Gilt Funds

Gilt Funds - Invset Online

 

The flows into gilt funds have risen lately due to a number of favourable factors, including removal or reduction of exit load

 

In March 2015, 41 gilt funds have attracted assets of R14,140 crore. This can be attributed to a number of reasons. First, since the RBI looks poised to cut interest rates, fund managers are locking in higher rates. Second, income funds are moving money into G-secs. Finally, reduction or complete removal of exit load on gilt funds has also boosted flows into G-secs. Also, in some cases the cut off period for the levy of exit load has been reduced.

 

Exit load is the fees charged by mutual funds at the time of redemption, especially before a certain period. This charge is calculated as a percentage of the amount invested. The two accompanying tables detail the change in AUMs and exit loads (tenure) of gilt funds.

 

Indiabulls Gilt fund is the only fund which has increased its load percentage as well as exit load tenure to 1 per cent for redemption within one year. Earlier there was no exit load.

 

Gilt Fund AUM (Rcr)

	Scheme name		Mar-15		Dec-14		Difference
HDFC Gilt-LT Plan		2464.88		988.04		1477
SBI Magnum Gilt-LT Plan		1233.26		515.21		718
ICICI Prudential LT Gilt		1585.27		1044.58		541
Kotak Gilt Investment		833.01		445.22		388
Reliance Gilt Securities		1012.8		651.78		361
IDFC Govt Securities-Inv Plan		1050.9		705.85		345
UTI Gilt Advantage LT Plan		613		273.99		339
ICICI Pru Gilt-Inv Plan-PF Option		776.67		445.42		331
BSL Govt Securities-LT Plan		888.88		646.16		243
JP Morgan India Govt Securities		797.04		638.03		159

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