July, 2009
IN CONTINUATION OF MY INVESTMENT CALL IN FORTIX FLEXI DEBT SCHEME
Further to my note on Fortis Flexi Debt & post my detailed discussion with the Fund Manager of the scheme Mr.Alok Singh, following more additional interesting facts have emerged. Also, I am detailing out the Fund Manger’s thoughts on the debt market journey going forward ( over next 3-6 months) & how he wishes to [...]
TRUE TO ITS NAME-FORTIS FLEXI DEBT SCHEME
Many schemes in the debt space have been termed as “FLEXI DEBT”, “ACTIVE INCOME”, etc. ;thereby giving the investors an impression that the fund manager of these schemes will actively manage the duration & create alpha or beat the benchmark for these debt schemes. However, the truth is that most of these schemes have fallen [...]
FROM DOVISH TO NEUTRAL STANCE BY RBI-MONETARY POLICY REVIEW JULY 28’2009
Most of the market participants had expected RBI to maintain its Dovish stance on interest rates prior to the announcement of RBI Monetary Policy review today. However, RBI’s stance has changed slightly from Dovish to Neutral on the interest rate stance with a bias for it to inch upward in future. RBI has maintained all [...]
SHOULD ONE EXIT OUT OF LONG END?
RBI announced lower than expected auction of Rs.12000 crs against their ongoing borrowing under auction of Rs.15000 crs. It had the desired effect by cooling the 10 year benchmark down to 6.79% from a high of 6.98% it had touched last week. Also, from a high of 7.05% it touched post the Budget announcements (due [...]
STAY CAUTIOUS
Debt market journey going forward seems to be very choppy and volatile. Announcement by Mr.Ashok Chawla, Finance Secretary should have unnerving impact on the debt markets for the next few months. He has clearly indicated that the Govt borrowing will be front loaded with only 50% of the requirement coming through OMOs. Govt borrowing for [...]