Just like their equity counterparts, none of the debt mutual fund categories posted losses in March. The best-performing category among debt funds was Gilt Medium and Long Term which fetched 0.72 per cent return. Ultra Short Term was the worst-performing category with a return of 0.31 per cent.
Debt: Ultra Short Term
As mentioned already, this was the worst-performing category. At 0.83 per cent, its Year to Date (YTD) return has also been poor. The category had posted 0.24 per cent return in February and a similar 0.28 per cent in January this year.
All the 55 funds in this category managed to stay in the green. Quantum Liquid was the best-performing fund in March after clocking 0.39 per cent return; its YTD return has been 0.97 per cent. Sundaram BNP Paribas Income Plus posted the lowest 0.08 per cent return and its YTD return stood at 0.19 per cent.
The biggest fund in this category, LICMF Liquid, with AUM of Rs 5,286.54 crore as on March 31, 2010 posted 0.35 per cent return in March. The fund had posted 0.29 per cent return in February, which was less than the 0.35 per cent return it had clocked in January.
Floating Rate
The Long Term Floating rate category came up with a better performance than its Short Term counterparts in March. The Long Term Floating Rate category posted 0.43 per cent return while its YTD return stood at 1.16 per cent. The Long Term Floating Rate category was the best-performing category in February and had outperformed its Short Term counterparts in February as well.
Meanwhile Short Term Floating Rate Funds clocked 0.38 per cent return in March. This category had posted 0.30 per cent return in February while its YTD return stands at 1.01 per cent.
As far as the Long Term Floating Rate category is concerned, all the 10 funds managed to stay in the green in March. Birla Sun Life Floating Rate LT Ret posted the maximum 0.61 per cent return in March while Tata Floating Rate LT posted the least 0.28 per cent return. The latter had been the worst performer in February as well with 0.21 per cent return. The biggest fund in this category, Kotak Floater LT, with AUM of Rs 1,1327.21 crore as on March 31, 2010 posted 0.43 per cent return in March. In February it had posted 0.34 per cent return. Its YTD return stands at 1.16 per cent.
Coming to the short term category, all the 16 funds stayed in the green in March. Magnum Floating Rate ST was the best performing fund in March after clocking 0.50 per cent return. The worse performer was however HSBC Floating Rate ST Regular which posted 0.24 per cent return. LICMF Floating Rate ST, the biggest fund in this category with AUM of Rs 4,887.74 crore, was the second best performer in March after posting 0.49 per cent return. It had posted 0.36 per cent return in February.
Liquid Plus and Short Term
The Liquid Plus category posted 0.40 per cent return in March. This was the second best performing category after clocking 0.31 per cent return in February. It YTD return stands at 1.06 per cent. All the 53 funds in this category remained in the green. Two funds of DWS fund house were the best and worst performer in March. DWS Treasury Investment Reg posted the maximum 0.56 per cent return while DWS Money Plus Reg clocked the least 0.21 per cent return in March. LICMF Income Plus, the biggest fund in this category with AUM of Rs 17530.96 crore as on March 31, 2010 posted 0.48 per cent return in March.
On the other hand, Short Term category posted 0.54 per cent return in March while its YTD return stands at 1.08 per cent. All the 28 funds stayed in the green in March. HDFC HI Short-term was the best performing fund in March as it was the only fund to clock above one per cent return (1.02 per cent). Bharti AXA Short Term Income Reg however was the worst performing fund in March after clocking 0.12 per cent return. The biggest fund in this category, Templeton India Short-term Income Ret with AUM of Rs 4,205.56 crore, was the second best performing fund in March after clocking 0.99 per cent return. This fund had posted 0.14 per cent return in February.
Medium Term
This category posted 0.61 per cent return in March while its YTD stands at 0.99 per cent. After being the best performing category in January, this category went into the red in February as it clocked (-) 0.04 per cent returns. Out of the total 62 funds in this category, 29 had gone into the red in February.
Coming back to March, out of the total of 62 funds, one fund -- Canara Robeco Dynamic Bond Retail -- went into the red, posting (-) 0.07 per cent return. SBI Dynamic Bond was the best performing fund in March after it posted 1.51 per cent return. Two funds of Franklin Templeton – Templeton India Income Opportunities and Templeton India Income Builder too managed to post above one per cent return in March – 1.28 per cent and 1.08 per cent respectively. Altogether eight funds posted above one per cent returns during the month.
Reliance Medium Term, the biggest fund in this category with AUM of Rs 13,737.8 crore posted o.44 per cent return in March. This fund had posted 0.34 per cent return in February.
Gilts
The Gilt Medium and Long Term category outperformed its Short Term counterparts in March. Gilt Medium and Long Term category posted 0.72 per cent and was the second best performing category in March. Its YTD stands at 0.68 per cent. This category went into the red, posting 0.40 per cent in February. The category had posted positive returns in January at 0.37 per cent.
Out of all the 51 funds, only one -- L&T Gilt Investment – posted negative return of (-) 0.40 per cent in March. Back in February, eight funds had posted positive return. ICICI Prudential Gilt Investment, the biggest fund in this category with AUM of Rs 334.10 crore as on March 31, 2010, posted 0.39 per cent return.
As far as the Short Term category is concerned, it posted 0.36 per cent return in March. It was the second worst performer in March. Its YTD stands at 0.89 per cent. Back in February, it had posted 0.14 per cent return. Except one all the 17 funds managed to stay in the green in March. Religare Gilt Short Duration Retail was the worst-performing fund in March after clocking (-) 0.08 per cent return. The best performing fund in March was Magnum Gilt Short-term which clocked 0.96 per cent return.
The biggest fund in this category, Tata GSF Short Maturity with AUM of Rs 288.86 crore, posted 0.44 per cent return.
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