January, 2010
How Does One Read the Credit Policy Review
Whew, RBI Policy Review is behind us. Though there was an unpleasant surprise of 75 bps CRR hike (against market expectation of 50 bps) & there was knee jerk reaction in the equity markets (corrected by more than 300 points post the announcement before settling down & currently (2:20 PM) only 13 points down on [...]
Follow up note to the NFO of AXIS Short Term Plan
Thank you all for investing & supporting the NFO of AXIS Short Term Plan which closed on January 20’2010. The said NFO collected a decent sum of close to Rs.300 crs. As was discussed with most of our investors, 50% of these funds are already invested in 2-5 year corporate bonds & balance 50% is [...]
An Alternate Asset Class between Liquid Plus & Short Term Plans
As is the practice every year, there are rumours once again circulating that Government might increase Dividend Distribution Tax (DDT) on debt schemes (other than Liquid Schemes- which already attracts higher DDT of 28% v/s 22% in other debt schemes) in the current Budget to be announced in February 2010. Also, there is a fear [...]
Article in Economic Times Delhi
SOURCE : Economic Times – Delhi – Page 11 – 18 January 2010
Axis Short Term Plan : NFO
As mentioned in my earlier notes, too much negative news is already priced into the debt markets. The same is reflecting in 10 year benchmark hovering around 7.63% levels & also in the 3-5 year corporate bond rates. Markets have started discounting rate hikes coupled with CRR hike. However, most of the bankers & Mr. [...]