Highlight This fund can generate consistent returns with a high-quality portfolio tilted towards AAA-rated assets. It is suitable if you are looking to invest for one to three years. It is also a good fit for the fixed-income allocation in your longer-term portfolio. Why do we like it With its high-quality, low-risk strategy, limited and selective non-AAA exposures and reasonable expenses, this fund makes up for a fairly good fit for your core debt portfolio. Devang Shah, Co-Head-Fixed Income, Axis Mutual Fund, has been managing this fund for around eight years. It has a decent performance record. Across any one-year period since 2013, broadly, this fund would have given you an average return of about 9 per cent, with the minimum and maximum return oscillating somewhere between 4-13 per cent. It has a history of staying one-up over the average category returns pretty consistently without taking any unnecessary risks. The fund's direct plan comes with an expense ratio of 0.30 per cent, which is lower than the expenses of many peers. With over Rs 1 lakh crore of debt as
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