Download Tax Saving Mutual Fund Application Forms
Invest In Tax Saving Mutual Funds Online
Leave a missed Call on
94 8300 8300
Launched in June 2010, HDFC Short Term Opportunities Fund is an open- ended short- term income fund. It has been ranked CRISIL Fund Rank 2 (good performance) in the short- term income fund category according to the CRISIL Mutual Fund Ranking for the quarter ended September 2013. The fund was within the Top 30 percentile (Fund Rank 1 or Fund Rank 2) of its peer group since its inclusion in the CRISIL Mutual Fund Ranking in the short- term income category. It is managed by Anil Bamboli.
In the past year, the fund's assets under management (AUM) rose from ₹ 212 crore for the quarter ended September 2012 to ₹ 2,389 crore for the quarter ended September 2013. During the period, the category's AUM increased 78 per cent.
Objective The scheme's objective is to generate regular income through investments in debt/ money market instruments and government securities with maturities not exceeding 36 months.
According to its scheme information document ( SID), the fund intends to invest in debt securities ( including securitised debt) with high credit quality to minimise liquidity and credit risk. Also, the fund intends to limit the average maturity/ modified duration of portfolio to less than 36 months.
If redeemed before three months of investment, investors have to pay a 0.50 per cent exit load. There is no load for investments redeemed after three months of investments. The fund has an expense ratio of 0.33 per cent for the regular option and 0.23 per cent for the direct investment option.
Investors can consider short- term income funds to take advantage of high- interest rates in the shorter tenure papers.
Risk/ return attributes The fund has outperformed its benchmark ( CRISIL Short Term Bond Fund Index or CRISIL STBEX) and the category across various time frames as on December 31, 2013.
Of its 14 quarters of existence, the fund has outperformed its benchmark in 11 and the category in eight quarters as on December 31, 2013.
The fund is less volatile compared to its category due to its conservative approach. Annualised volatility for the year ended December 2013 is 2.66 per cent whereas the category average is 2.92 per cent.
This has resulted in higher riskadjusted returns ( represented by Sharpe ratio) of 1.41 for the fund versus 1.21 by the category.
The fund had a yield to maturity of 9.74 per cent as of November 2013. The average maturity of the portfolio is 1.33 years.
Portfolio analysis The fund manager has changed the asset allocation and average maturity of portfolio ( sensitivity to interest rate risk) strategically. Between its inception and until August 2012, when short- term rates were high, the fund was running on an average 44- day maturity portfolio of certificates of deposit ( CDs) and commercial paper ( CP) only. The fund had higher allocation to CDs when their yields started rising. Between December 2010 and August 2012, the fund maintained an average 89 per cent exposure to CDs and CPs to take advantage of high short- term interest rates. During this period, the three- month CD rates had gone up to levels as high as 11.43 per cent.
From September 2012 to November 2013, the fund reduced its average exposure to CD and CP to 13 per cent. During the same period, the fund maintained an average exposure of 80 per cent to NCDs and bonds. Also, average maturity of the portfolio was increased to 1.47 years when short term- interest rates were expected to fall. However, as stated in the SID, the fund has never increased its average maturity higher than 36 months. The fund has not had any exposure to government securities in its entire tenure.
Over the past three years, an average 84 per cent of its debt portfolio has been invested in the highest rated papers. The fund has never invested in securities with rating below
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them
OR
You can write back to us at
PrajnaCapital [at] Gmail [dot] Com
---------------------------------------------
Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs
Download Mutual Any Fund Application Forms
---------------------------------------------
Best Performing Mutual Funds
- Largecap Funds Invest Online
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Franklin India Bluechip
- ICICI Prudential Top 100 Fund
B. Large and Midcap Funds Invest Online
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Birla Sun Life Front Line Equity Fund
- Franklin India Prima
C. Mid and SmallCap Funds Invest Online
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Birla Sun Life Dividend Yield Plus
- SBI Emerging Businesses Fund
- HDFC Mid-Cap Opportunities Fund
- ICICI Prudential Discovery Fund
D. Small and MicroCap Funds Invest Online
- DSP BlackRock MicroCap Fund
2. Franklin India Smaller Companies
E. Sector Funds Invest Online
- Reliance Banking Fund
- Reliance Banking Fund
- ICICI Prudential Banking and Financial Services Fund
F. Tax Saver Mutual Funds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
- DSP BlackRock Tax Saver Fund
- Reliance Tax Saver (ELSS) Fund
G. Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
- Birla Sun Life Gold
H. International funds Invest Online
1. Birla Sun Life International Equity Plan A
2. DSP BlackRock US Flexible Equity
3. FT India Feeder Franklin US Opportunities
4. ICICI Prudential US Bluechip Equity
5. Motilal Oswal MOSt Shares NASDAQ-100 ETF
0 comments:
Post a Comment