Launched in June 1998, the fund managed Rs 5,479.26 crore as on June 30, 2005. Between 2000 and 2003, the fund saw frequent changes in its fund managers.
Although the fund has managed to beat the category average by a few basis points between 2000-2004, its rank vis-à-vis peers has steadily declined.
In the year 2004 it was ranked 22 out of 37 funds. The fund missed the category average by 0.02 per cent. The fund has received a three star rating consistently in the past two years.
The average maturity of its holdings has been increasing in the past six months. The fund maintains the cash components in a higher proportion. As on April 30, 2005 it had close to 40 per cent in cash and its equivalents, out of which over 25 per cent was in bank deposits.
The fund would do much better if it could limit its expenses. Many of the top rated funds in the category have limited their expenses while this fund has its average expenses close to 0.88 per cent.
This article was originally published on July 18, 2005.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
