Short Term Plans
ONCE AGAIN TIME TO RELOOK AT AXIS SHORT TERM FUND
As expected, 3G money outflow has resulted into a deficit in system liquidity (+42000cr surplus for week ended 21st May to -59990cr deficit for week ended 11th June). As a result, short term rates have reacted upwards – overnight MIBOR at 5.35% (3.80% in May), 3m CD at 6.15% and long rates as follows: AAA [...]
LONG END & SHORT END MOVING IN OPPOSITE DIRECTIONS
Short End & Long End of the curve are moving in opposite directions. Reasons are obvious and some of them can be traced to the same economic and commercial activities happening in the markets. Like better than expected ( almost double) collections in 3 G Auction of Rs.68000 crs is one of the reasons for [...]
AXIS SHORT TERM PLAN : AN INVESTMENT OPPORTUNITY
I have been recommending investments in AXIS STP since their NFO on January 20’2010. Since then, I have recommended this scheme from time to time as the Fund Manager has stuck to his mandate & delivered performance over various time horizons: Purchase Date Current Date Period % Return 20-Jan-10 13-May-10 113 5.67 11-Feb-10 13-May-10 91 [...]
PERFORMANCE OF OUR OWN RECOMMENDATIONS OF STPS
I have been recommending one asset class viz. Short Term Plans from June 2009 onwards or even prior to that. On various occasions I had recommended different STP schemes of various AMCs based on their underlying portfolio and other macro factors prevalent in the market. Some of the themes that I had picked up were [...]
GOING FORWARD SHORT TERM PLANS – WHICH ONES? AND WHY?
With the possible scenario of further rate hikes in June/July, I would recommend a more defensive portfolio of creation of Short Term Plans as mentioned below & for the reasons mentioned. I would advise the investors to refrain from taking interest rate calls for some more time as direction of RBI is clear on increasing [...]