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Variety of Debt funds

It is not easy to choose a debt fund, given the huge variety of schemes available in the category


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Fixed income fund was supposed to be the simple choice for risk-averse investor: decide on the term of investment and put your money in the appropriate kind. But, is it really that simple given the huge variety of debt funds available with not much to separate when it comes to their investment mandate? This story follows our earlier report on debt schemes and explores the variety of debt schemes offered by HDFC and ICICI.

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HDFC Mutual Fund

Income Funds
HDFC Income Fund Fund manages assets worth Rs 4,676 crore. It is a long term bond fund, and its maturity has hardly gone below 2.5 years
HDFC Medium Term Opportunities Fund manages assets worth Rs 1,826 crore and invests in instruments with less than 5 years maturity
HDFC High Interest Dynamic Fund manages Rs 167 crore, and like other income funds, maturity of its holdings has never gone below 2 years

Liquid Funds
HDFC Liquid Fund manages assets worth Rs 4,690 crore. This fund is the cheapest liquid fund of the AMC
HDFC Cash Mgmt Savings Fund manages Rs 2,008 crore and maturity profile of holdings is in range of the liquid fund
HDFC Cash Mgmt Call manages Rs 13 crore and the maturity of its holdings hasn't exceeded 7 days since May 2010

Short Term Funds
HDFC HI Short Term Fund manages assets worth Rs 2,423 crore and the average maturity of its holdings hasn't exceeded 2.5 years in its lifetime
HDFC Short Term Fund manages Rs 2,493 crore and aims to maintain an average maturity profile of 9 to 18 months
HDFC Short Term Opportunities Fund manages Rs 1,956 crore and invests in instruments with less than 30 month maturity

Ultra Short Term Funds
HDFC Cash Mgmt Treasury Adv Fund manages assets worth Rs 8,077 crore and invests in debt and money market instruments
HDFC Floating Rate Income ST Fund manages Rs 5,838 crore and minimum investment in the fund is fixed at Rs 10 lakh
HDFC Floating Rate Income LT Fund manages Rs 1,975 crore and minimum investment is fixed at Rs 5,000

Medium Long Term Gilt Fund
HDFC Gilt Long-term Fund manages assets worth Rs 338 crore and invest in G-secs with medium- to long-term maturities

Short Term Gilt Fund
HDFC Gilt ST Fund manages assets worth Rs 9 crore and invests in G-secs with short to medium-term maturities

ICICI Mutual Fund

Income Funds
ICICI Pru Income Fund manages assets worth Rs 3,950 crore and takes duration risk
ICICI Pru Regular Savings Fund manages Rs 2,819 crore and invests in AA and lower rated papers with maturity of 2-3 years
ICICI Pru Income Opportunities Fund manages Rs 2,493 crore and repositioned itself as a 10-year maturity fund
ICICI Pru LT Fund manages Rs 581 crore and the fund intends to limit its maturity between 2.5 to 3.5 years
ICICI Pru Dynamic Bond Fund manages Rs 431 crore and varies its maturity with prevailing interest rates
ICICI Pru Banking & PSU Debt Fund manages Rs 14 crore and invests in short maturity banking and PSU debt papers

Liquid Funds
ICICI Pru Liquid Plan manages assets worth Rs 9,144 crore and has lower flexibility with duration as compared to the money market fund
ICICI Pru Money Market Fund manages Rs 1,128 crore and has greater flexibility with average maturity

Short Term Funds
ICICI Pru Short-term Fund manages assets worth Rs 4,922 crore and invests in papers of 18-36 months maturity
ICICI Pru Corporate Bond Fund manages Rs 1,502 crore and takes credit risk but maturity can go up to 5 years

Ultra Short Term Funds
ICICI Pru Flexible Income Fund manages assets worth Rs 7,908 crore and is a 90-day duration fund
ICICI Pru Floating Rate Fund manages Rs 1,079 crore and focuses on Accrual by investing in floating rate papers
ICICI Pru Ultra Short Term Fund manages Rs 1,819 crore and its average maturity remains close to 1 year

Medium Long Term Gilt Funds
ICICI Pru Gilt Investment PF manages Rs 508 crore and it is the PF option of the Gilt investment fund
ICICI Pru Long Term Gilt Fund manages Rs 411 crore and invests in G-secs of longer maturity

Short Term Gilt Funds
ICICI Pru Short Term Gilt Fund manages Rs 478 crore and makes short-term investment in G-Secs with low volatility
ICICI Pru Gilt Treasury PF manages Rs 33 crore and it's the PF option of the Gilt Treasury fund

Debt schemes if ICICI Prudential Mutual Fund will follow soon. Watch this space for next update.

 
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