HSBC's short-duration fund (the erstwhile L&T Short Term Bond Fund) has had an okay 2023, delivering 5.91 per cent against the category return of 6.18 per cent. Although it still ranks among the category's bottom performers, the fund's underperformance has shrunk from -0.55 in 2022 to -0.27 in 2023. Reasons for the slight recovery As a stickler for quality bonds, this fund avoids dipping its toes in lower-rated bonds, though it takes selective bets on the duration front. The fund has been pushing the average maturity higher, a call that is helping the fund catc
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