The fund posted its highest ever annual return of 7.15 per cent for the year ended February 23, 2003.The fund has managed this stellar performance without taking any extraordinary risk in either the quality of portfolio or the average maturity profile.
The fund has largely maintained a quality portfolio keeping majority of its portfolio in AAA rated securities and P1+ instruments-as on June 30, 2005 the fund held 60.79 per cent. The fund has always been risk averse as the maturity profile of the portfolio is on the lower side. The fund has never crossed the 95-day mark on its average maturity profile-as on June 30, 2005, the average maturity stood at 40 days.
The fund's expense ratio of 0.49 per cent as on March 31, 2005, is lower than average peers' expense ratio of 0.63 per cent. The minimum investment limit of Rs 10,000 is an added advantage of this fund. This is one of the best performing and the most prolific funds available in the category, that too at a below average level of risk.
This article was originally published on July 25, 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.
