February 2010 saw the debt categories beat their equity counterparts once again. For the second month running, the debt categories fared better with only three categories ending the month in red. The other categories finished the month on a positive high.
Leading from the front was Debt Floating Rate Long Term which posted 0.34 per cent returns in February. On the other hand, it was Gilt Medium and Long Term categories that posted the maximum negative returns (0.40 per cent) in February. The other two categories which went into the red were Monthly Income and Debt Medium Term, posting negative 0.05 and 0.04 per cent returns respectively.
It is worth a mention here that Debt Medium Term posted the maximum 0.43 per cent returns in January this year. The category had posted 1.02 per cent returns in 2009. However, Hybrid Monthly Income, which was the best performing category in 2009 after clocking 14.37 per cent returns, started off the year by posting -0.33 per cent returns.
Debt: Ultra Short Term
This category managed to stay in the green and posted 0.24 per cent returns in February. It had posted almost the same returns in January this year (0.28 per cent).
All the 56 funds in this category managed to remain in the green. Escorts Liquid remained the best fund in February after it posted 0.33 per cent returns. The latter was the best-performing fund of 2009 after it posted 7.38 per cent returns. In January, however, it had clocked a slight better 0.35 per cent. Birla Sun Life Cash Plus Sweep posted the minimal returns (0.12 per cent) in February. The latter had posted a minimal 0.05 per cent returns in January as well.
The biggest fund in this category – LIC MF Liquid with its AUM standing at Rs 9,352.23 crore as on January 31, 2010, posted 0.29 per cent returns in February, less than its 0.35 per cent returns in January.
Floating Rate
Long Term Floating Rate, apart from being the best performing category in February, yet again beat their Short term counterparts. The Long Term Floating Rate category posted 0.34 per cent returns in February while the Short Term floating rate category posted 0.30 per cent returns.
As far as the Long Term Floating Rate category is concerned, ICICI Prudential LT Floating Rate A posted the maximum returns (0.47 per cent) in February. Tata Floating Rate LT however was the worst performing fund; it posted 0.21 per cent returns. All the funds in this category remained in the green. The biggest fund in this category, Kotak Floater LT with its average AUM standing at Rs 15861.19 crore, posted 0.34 per cent returns.
Coming to the Short Term Floating Rate category, it was Escorts Floating Rate which posted the maximum returns (0.43 per cent). HSBC Floating Rate ST Regular was the worst performing fund in February, posting 0.17 per cent returns. The category’s biggest fund, LICMF Floating Rate ST with an average AUM of Rs 5715.06 crore, posted 0.36 per cent returns.
Liquid Plus and Short Term
The Liquid Plus category was the second best performing category after Long Term Floating Rate. The Liquid Plus category posted 0.31 per cent returns in February. In January, this category had posted 0.34 per cent returns. All the 51 funds remained in the green in February. JM Money Manager Super was the best performing fund in February after it posted 0.42 per cent returns. The worst performing fund however, was Mirae Asset Ultra Short Term Bond Regular which clocked 0.18 per cent returns. The biggest fund in this category LIC MF Income Plus, with average AUM standing at Rs 17267.31 crore posted, 0.36 per cent returns.
As far as the Short Term category is concerned, out of the total 29 funds, three funds posted negative returns. IDFC SSI Short-term Plan A, ICICI Prudential Short-term and AIG Short Term Ret posted negative 0.02 per cent returns. UTI Short-term Income Regular was the best performing fund in February after it posted 0.35 per cent returns. The biggest fund in this category, Templeton India Short-term Income Ret, with average AUM standing at Rs 3716.87 crore, posted 0.14 per cent returns.
Medium Term
This was one of the categories which went into red in February. Interestingly, this was the best performing category in January after it posted 0.43 per cent returns. However in February, it clocked a negative 0.04 per cent returns. Out of the total 62 funds in this category, 29 went into the red to post negative returns.
HDFC Income was the worst performing fund in February after it posted negative 0.88 per cent returns. Baroda Pioneer Income posted the maximum returns of 0.66 per cent. The biggest fund in this category, Reliance Medium Term, with average AUM standing at Rs 8977.23 crore, remained in the green in February to post 0.34 per cent returns.
Gilts
The most volatile of the debt categories (Medium and Long term), it went into red to post 0.40 per cent in February. The category had posted positive returns in January at 0.37 per cent. But out of the total 50 funds, only eight posted positive returns in February. In that, Baroda Pioneer Gilt which posted 0.48 per cent returns in February was the best performing fund. As far as the worst performing funds are concerned, Canara Robeco Gilt PGS and Escorts Gilt posted the maximum negative returns (-1.35 per cent and -1.03 per cent). The biggest fund in this category, ICICI Prudential Gilt Investment, with average AUM standing at Rs 488.30 crore, too went into the red to post negative 0.89 per cent returns.
The story of the Gilt Short Term Category however was much different. This category managed to stay in the green and posted 0.14 per cent returns. In January too, it had posted 0.39 per cent returns. Three funds out of the total 17 funds in this category went into the red in February. They were Tata GSF Short Maturity (-0.08 per cent), Religare Gilt Short Duration Retail (-0.02 per cent) and HDFC Gilt Short-term (-0.01 per cent). The best performing fund was ICICI Prudential Gilt Treasury PF which posted 0.34 per cent returns in February.
MIP
This was yet another category which saw itself in the red in February. The category posted 0.05 per cent returns. Out of the total 43 funds, 19 posted negative returns in February, the worst performer being Bharti AXA Regular Return Reg which posted negative 0.96 per cent returns. On the other hand, Baroda Pioneer MIP, which is the smallest fund in the category as far as AUM is concerned, posted the maximum 1.35 per cent returns. The biggest fund in this category, HDFC MIP Long-term, with AUM standing at Rs 3954.87 crore, posted 0.26 per cent returns.
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