As on June 30, 2011, the fund delivered a one-year return of 8.25 per cent (category average: 6.29%), placing it amongst the top five in this category. In 2010, it was the second best performer amongst 24 funds.
Though the fund can keep the average maturity of the portfolio up to four years, it has never touched this limit. Only on five occasions has the average maturity crossed three years. It reached its highest in March 2011 at 3.80 years. Over the past one year, the average maturity of the portfolio has been at 1.67 years and currently is at 1.74 years.
The fund never dabbles in low quality paper to give that extra bit of return. The assets of the fund have reduced to `99 crore (June 30, 2011) from `317 crore (March 31, 2011), a decline of around 69 per cent.