Table of Contents
Top 4 Debt - Government Bond Funds
Want to invest during falling interest rates? Gilt Funds in India are an answer to this! Gilt Mutual Funds provide good returns during times of falling interest rates depending upon its maturity (or duration). Investors Investing in these funds need to have enough time for tracking their investments since the NAVs of these funds move very sharply with movement in interest rates. One needs to be careful in the entry and exit of their investments accurately.
More importantly, considering important parameters to shortlist or invest in the best Gilt funds can be an optimal way to strengthen your Portfolio. We take you to some of those parameters, following the best Gilt funds or Best Performing Mutual Funds to Invest in 2024.
Corporations need money for their day-to-day requirements, and therefore borrow from lenders such as banks, mutual funds and Insurance companies. Similarly, when the Government of India needs money, it borrows through its banker, the Reserve Bank of India (RBI).
The RBI, in-turn, takes money from the lenders like banks, insurance companies and mutual funds; and passes it on to the government, and issues g-secs in return.
These g-secs have a specific tenure, at the end of which lenders give back the g-secs and take their money back. Many types of Debt fund invest in g-secs but g-sec funds invest only in g-secs. Although debt funds were introduced to the Indian mutual funds Industry in 1994, Kotak Mahindra Asset Management Co. Ltd launched India’s first gilt fund in December 1998.
If you understand debt markets well, then gilt funds are for you. If you expect interest rates to fall, then a small exposure to gilt funds is a good idea because, typically, these funds move the most of all debt funds when interest rate move. Remember: in such times, you make money only when you actually withdraw your money and encash.
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The Scheme aims to generate returns through investments in Central Govt Securities. DSP BlackRock Government Securities Fund is a Debt - Government Bond fund was launched on 30 Sep 99. It is a fund with Moderate risk and has given a Below is the key information for DSP BlackRock Government Securities Fund Returns up to 1 year are on IDFC – GSF -IP is an open ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing in Government Securities.However there is no assurance that the investment objective of the scheme will be realized. IDFC Government Securities Fund - Investment Plan is a Debt - Government Bond fund was launched on 3 Dec 08. It is a fund with Moderate risk and has given a Below is the key information for IDFC Government Securities Fund - Investment Plan Returns up to 1 year are on (Erstwhile ICICI Prudential Long Term Gilt Fund) To generate income through investment in Gilts of various maturities. ICICI Prudential Gilt Fund is a Debt - Government Bond fund was launched on 19 Aug 99. It is a fund with Moderate risk and has given a Below is the key information for ICICI Prudential Gilt Fund Returns up to 1 year are on The objective of the Scheme is to generate optimal returns by investing in a portfolio of securities issued and guaranteed by Central and State Government. Invesco India Gilt Fund is a Debt - Government Bond fund was launched on 9 Feb 08. It is a fund with Moderate risk and has given a Below is the key information for Invesco India Gilt Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2023 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity DSP BlackRock Government Securities Fund Growth ₹86.54
↓ 0.00 ₹713 3.4 4.6 9 5.7 7.1 7.27% 10Y 6M 7D 26Y 3M 4D IDFC Government Securities Fund - Investment Plan Growth ₹32.0411
↓ -0.02 ₹1,543 3.9 5.4 8.8 5.3 6.8 7.27% 11Y 6M 27Y 2M 12D ICICI Prudential Gilt Fund Growth ₹92.449
↑ 0.07 ₹4,879 2.1 3.6 8.7 6 8.3 7.51% 4Y 11M 5D 9Y 6M 11D Invesco India Gilt Fund Growth ₹2,569.7
↓ -0.85 ₹247 3.4 5.1 8.7 4.7 6.6 7.25% 10Y 2M 8D 22Y 4M 20D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 26 Mar 24 1. DSP BlackRock Government Securities Fund
CAGR/Annualized
return of 9.2% since its launch. Ranked 9 in Government Bond
category. Return for 2023 was 7.1% , 2022 was 2.7% and 2021 was 3.1% . DSP BlackRock Government Securities Fund
Growth Launch Date 30 Sep 99 NAV (26 Mar 24) ₹86.54 ↓ 0.00 (0.00 %) Net Assets (Cr) ₹713 on 29 Feb 24 Category Debt - Government Bond AMC DSP BlackRock Invmt Managers Pvt. Ltd. Rating ☆☆☆ Risk Moderate Expense Ratio 1.09 Sharpe Ratio 1.13 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 500 Exit Load 0-7 Days (0.1%),7 Days and above(NIL) Yield to Maturity 7.27% Effective Maturity 26 Years 3 Months 4 Days Modified Duration 10 Years 6 Months 7 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,562 28 Feb 21 ₹12,469 28 Feb 22 ₹13,053 28 Feb 23 ₹13,469 29 Feb 24 ₹14,794 Returns for DSP BlackRock Government Securities Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.1% 3 Month 3.4% 6 Month 4.6% 1 Year 9% 3 Year 5.7% 5 Year 7.9% 10 Year 15 Year Since launch 9.2% Historical performance (Yearly) on absolute basis
Year Returns 2023 7.1% 2022 2.7% 2021 3.1% 2020 13.1% 2019 12.5% 2018 7.4% 2017 1.4% 2016 15.3% 2015 6.2% 2014 15% Fund Manager information for DSP BlackRock Government Securities Fund
Name Since Tenure Shantanu Godambe 1 Jun 23 0.75 Yr. Data below for DSP BlackRock Government Securities Fund as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 0.27% Debt 99.73% Debt Sector Allocation
Sector Value Government 99.73% Cash Equivalent 0.27% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2037
Sovereign Bonds | -34% ₹247 Cr 24,500,000
↑ 14,500,000 7.18% Govt Stock 2033
Sovereign Bonds | -23% ₹166 Cr 16,500,000
↑ 11,500,000 7.3% Govt Stock 2053
Sovereign Bonds | -22% ₹160 Cr 15,500,000
↑ 9,500,000 7.25% Govt Stock 2063
Sovereign Bonds | -21% ₹149 Cr 14,500,000
↓ -500,000 Treps / Reverse Repo Investments / Corporate Debt Repo
CBLO/Reverse Repo | -4% ₹28 Cr Net Receivables/Payables
Net Current Assets | -4% -₹26 Cr 6.99% Govt Stock 2051
Sovereign Bonds | -₹0 Cr 00
↓ -10,000,000 364 DTB 08022024
Sovereign Bonds | -₹0 Cr 00
↓ -5,000,000 7.36% Govt Stock 2052
Sovereign Bonds | -₹0 Cr 00
↓ -10,500,000 2. IDFC Government Securities Fund - Investment Plan
CAGR/Annualized
return of 7.9% since its launch. Ranked 14 in Government Bond
category. Return for 2023 was 6.8% , 2022 was 1.4% and 2021 was 2.1% . IDFC Government Securities Fund - Investment Plan
Growth Launch Date 3 Dec 08 NAV (26 Mar 24) ₹32.0411 ↓ -0.02 (-0.05 %) Net Assets (Cr) ₹1,543 on 29 Feb 24 Category Debt - Government Bond AMC IDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 1.24 Sharpe Ratio 1.02 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 7.27% Effective Maturity 27 Years 2 Months 12 Days Modified Duration 11 Years 6 Months Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,700 28 Feb 21 ₹12,588 28 Feb 22 ₹13,251 28 Feb 23 ₹13,417 29 Feb 24 ₹14,764 Returns for IDFC Government Securities Fund - Investment Plan
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.1% 3 Month 3.9% 6 Month 5.4% 1 Year 8.8% 3 Year 5.3% 5 Year 7.6% 10 Year 15 Year Since launch 7.9% Historical performance (Yearly) on absolute basis
Year Returns 2023 6.8% 2022 1.4% 2021 2.1% 2020 13.7% 2019 13.3% 2018 7.8% 2017 3.1% 2016 13.9% 2015 6% 2014 16.5% Fund Manager information for IDFC Government Securities Fund - Investment Plan
Name Since Tenure Suyash Choudhary 15 Oct 10 13.39 Yr. Sreejith Balasubramanian 31 Aug 23 0.5 Yr. Data below for IDFC Government Securities Fund - Investment Plan as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 1.09% Debt 98.91% Debt Sector Allocation
Sector Value Government 98.91% Cash Equivalent 1.09% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.3% Govt Stock 2053
Sovereign Bonds | -86% ₹1,320 Cr 129,800,000
↑ 18,800,000 7.18% Govt Stock 2037
Sovereign Bonds | -13% ₹200 Cr 19,900,000
↓ -20,700,000 7.17% Govt Stock 2028
Sovereign Bonds | -0% ₹0 Cr 6,300 Net Current Assets
Net Current Assets | -1% ₹18 Cr Triparty Repo
CBLO/Reverse Repo | -0% ₹5 Cr Cash Margin - Ccil
CBLO/Reverse Repo | -0% ₹0 Cr 7.18% Govt Stock 2033
Sovereign Bonds | -₹0 Cr 00
↓ -200,000 3. ICICI Prudential Gilt Fund
CAGR/Annualized
return of 9.5% since its launch. Ranked 5 in Government Bond
category. Return for 2023 was 8.3% , 2022 was 3.7% and 2021 was 3.8% . ICICI Prudential Gilt Fund
Growth Launch Date 19 Aug 99 NAV (26 Mar 24) ₹92.449 ↑ 0.07 (0.07 %) Net Assets (Cr) ₹4,879 on 29 Feb 24 Category Debt - Government Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆ Risk Moderate Expense Ratio 1.12 Sharpe Ratio 1.97 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 7.51% Effective Maturity 9 Years 6 Months 11 Days Modified Duration 4 Years 11 Months 5 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,344 28 Feb 21 ₹12,281 28 Feb 22 ₹12,855 28 Feb 23 ₹13,474 29 Feb 24 ₹14,671 Returns for ICICI Prudential Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.5% 3 Month 2.1% 6 Month 3.6% 1 Year 8.7% 3 Year 6% 5 Year 7.7% 10 Year 15 Year Since launch 9.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 8.3% 2022 3.7% 2021 3.8% 2020 12.6% 2019 10.8% 2018 6.8% 2017 2.1% 2016 18.2% 2015 5.5% 2014 18% Fund Manager information for ICICI Prudential Gilt Fund
Name Since Tenure Manish Banthia 22 Jan 24 0.11 Yr. Raunak Surana 22 Jan 24 0.11 Yr. Data below for ICICI Prudential Gilt Fund as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 5.97% Debt 94.03% Debt Sector Allocation
Sector Value Government 94.03% Cash Equivalent 5.97% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2033
Sovereign Bonds | -62% ₹3,049 Cr 302,974,590
↑ 112,500,000 8.25% Govt Stock 2033
Sovereign Bonds | -23% ₹1,103 Cr 108,971,700 7.69% Govt Stock 2028
Sovereign Bonds | -6% ₹294 Cr 29,490,899
↓ -13,333,750 7.18% Govt Stock 2037
Sovereign Bonds | -2% ₹75 Cr 7,500,000
↑ 7,500,000 8.1% Govt Stock 2034
Sovereign Bonds | -2% ₹74 Cr 7,500,000 7.37% Govt Stock 2028
Sovereign Bonds | -0% ₹3 Cr 266,550 08.03 GOI FCI 2024
Domestic Bonds | -0% ₹3 Cr 250,000 7.06% Govt Stock 2028
Sovereign Bonds | -0% ₹1 Cr 133,450
↓ -42,000,000 08.05 RJ Sdl 2025feb
Sovereign Bonds | -0% ₹1 Cr 56,000 7.38% Govt Stock 2027
Sovereign Bonds | -0% ₹0 Cr 10,470
↓ -52,823,930 4. Invesco India Gilt Fund
CAGR/Annualized
return of 6% since its launch. Ranked 10 in Government Bond
category. Return for 2023 was 6.6% , 2022 was 2.3% and 2021 was 0.7% . Invesco India Gilt Fund
Growth Launch Date 9 Feb 08 NAV (26 Mar 24) ₹2,569.7 ↓ -0.85 (-0.03 %) Net Assets (Cr) ₹247 on 29 Feb 24 Category Debt - Government Bond AMC Invesco Asset Management (India) Private Ltd Rating ☆☆☆ Risk Moderate Expense Ratio 1.25 Sharpe Ratio 1.09 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 100 Exit Load NIL Yield to Maturity 7.25% Effective Maturity 22 Years 4 Months 20 Days Modified Duration 10 Years 2 Months 8 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,196 28 Feb 21 ₹11,617 28 Feb 22 ₹11,850 28 Feb 23 ₹12,250 29 Feb 24 ₹13,421 Returns for Invesco India Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.1% 3 Month 3.4% 6 Month 5.1% 1 Year 8.7% 3 Year 4.7% 5 Year 5.9% 10 Year 15 Year Since launch 6% Historical performance (Yearly) on absolute basis
Year Returns 2023 6.6% 2022 2.3% 2021 0.7% 2020 8.2% 2019 9.6% 2018 6.2% 2017 1.2% 2016 16.6% 2015 4.2% 2014 17% Fund Manager information for Invesco India Gilt Fund
Name Since Tenure Krishna Cheemalapati 27 Jul 21 2.6 Yr. Vikas Garg 26 Sep 20 3.43 Yr. Data below for Invesco India Gilt Fund as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 8.06% Debt 91.94% Debt Sector Allocation
Sector Value Government 91.94% Cash Equivalent 8.06% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.3% Govt Stock 2053
Sovereign Bonds | -52% ₹86 Cr 8,470,000
↑ 4,900,000 7.18% Govt Stock 2037
Sovereign Bonds | -40% ₹65 Cr 6,500,000
↑ 2,900,000 Triparty Repo
CBLO/Reverse Repo | -7% ₹12 Cr Net Receivables / (Payables)
Net Current Assets | -1% ₹2 Cr
The Scheme aims to provide reasonable returns by investing in portfolio of Government Securities with average maturity of around 10 years. However, there can be no assurance that the investment objective of the
Scheme will be realized. ICICI Prudential Constant Maturity Gilt Fund is a Debt - 10 Yr Govt Bond fund was launched on 12 Sep 14. It is a fund with Moderate risk and has given a Below is the key information for ICICI Prudential Constant Maturity Gilt Fund Returns up to 1 year are on (Erstwhile SBI Magnum Gilt Fund Short Term) To provide the investors with the returns generated through investments in government securities issued by the Central Govt. and State Govt. SBI Magnum Constant Maturity Fund is a Debt - 10 Yr Govt Bond fund was launched on 30 Dec 00. It is a fund with Moderately Low risk and has given a Below is the key information for SBI Magnum Constant Maturity Fund Returns up to 1 year are on (Erstwhile IDFC Government Securities Fund - Short Term Plan) IDFC – GSF -ST is an open ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities.
However there is no assurance that the investment objective of the scheme will be realized. IDFC Government Securities Fund - Constant Maturity Plan is a Debt - 10 Yr Govt Bond fund was launched on 9 Mar 02. It is a fund with Moderate risk and has given a Below is the key information for IDFC Government Securities Fund - Constant Maturity Plan Returns up to 1 year are on (Erstwhile DSP BlackRock Constant Maturity 10Y G-Sec Fund) The investment objective of the Scheme is to seek to generate returns commensurate with risk from a portfolio of Government Securities with weighted average maturity of around 10 years. There is no assurance that the investment objective of the Scheme will be realized. DSP BlackRock 10Y G-Sec Fund is a Debt - 10 Yr Govt Bond fund was launched on 26 Sep 14. It is a fund with Moderate risk and has given a Below is the key information for DSP BlackRock 10Y G-Sec Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2023 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity ICICI Prudential Constant Maturity Gilt Fund Growth ₹21.9363
↑ 0.01 ₹2,457 2.3 3.8 8.2 5.1 7.7 7.27% 6Y 6M 29D 9Y 6M SBI Magnum Constant Maturity Fund Growth ₹56.8439
↓ -0.01 ₹1,637 2.3 3.7 8 5 7.5 7.23% 6Y 10M 10D 9Y 9M 25D IDFC Government Securities Fund - Constant Maturity Plan Growth ₹40.5756
↑ 0.01 ₹341 2.5 4.1 8.2 4.6 7.4 7.23% 7Y 25D 10Y 5M 26D DSP BlackRock 10Y G-Sec Fund Growth ₹19.4919
↑ 0.01 ₹49 2.3 3.7 8.2 3.7 7.7 7.2% 6Y 8M 8D 9Y 4M 10D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 26 Mar 24 1. ICICI Prudential Constant Maturity Gilt Fund
CAGR/Annualized
return of 8.6% since its launch. Ranked 6 in 10 Yr Govt Bond
category. Return for 2023 was 7.7% , 2022 was 1.2% and 2021 was 2.8% . ICICI Prudential Constant Maturity Gilt Fund
Growth Launch Date 12 Sep 14 NAV (26 Mar 24) ₹21.9363 ↑ 0.01 (0.05 %) Net Assets (Cr) ₹2,457 on 29 Feb 24 Category Debt - 10 Yr Govt Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.39 Sharpe Ratio 0.84 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load 0-7 Days (0.25%),7 Days and above(NIL) Yield to Maturity 7.27% Effective Maturity 9 Years 6 Months Modified Duration 6 Years 6 Months 29 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,629 28 Feb 21 ₹12,530 28 Feb 22 ₹13,149 28 Feb 23 ₹13,397 29 Feb 24 ₹14,636 Returns for ICICI Prudential Constant Maturity Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.4% 3 Month 2.3% 6 Month 3.8% 1 Year 8.2% 3 Year 5.1% 5 Year 7.7% 10 Year 15 Year Since launch 8.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 7.7% 2022 1.2% 2021 2.8% 2020 13.6% 2019 12.8% 2018 9.7% 2017 2.4% 2016 16.2% 2015 6.9% 2014 Fund Manager information for ICICI Prudential Constant Maturity Gilt Fund
Name Since Tenure Manish Banthia 22 Jan 24 0.11 Yr. Raunak Surana 22 Jan 24 0.11 Yr. Data below for ICICI Prudential Constant Maturity Gilt Fund as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 0.28% Debt 99.72% Debt Sector Allocation
Sector Value Government 99.72% Cash Equivalent 0.28% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2033
Sovereign Bonds | -100% ₹2,434 Cr 241,845,100
↑ 11,000,000 Treps
CBLO/Reverse Repo | -0% ₹6 Cr Net Current Assets
Net Current Assets | -0% ₹1 Cr 2. SBI Magnum Constant Maturity Fund
CAGR/Annualized
return of 7.8% since its launch. Ranked 1 in 10 Yr Govt Bond
category. Return for 2023 was 7.5% , 2022 was 1.3% and 2021 was 2.4% . SBI Magnum Constant Maturity Fund
Growth Launch Date 30 Dec 00 NAV (26 Mar 24) ₹56.8439 ↓ -0.01 (-0.02 %) Net Assets (Cr) ₹1,637 on 29 Feb 24 Category Debt - 10 Yr Govt Bond AMC SBI Funds Management Private Limited Rating ☆☆☆☆ Risk Moderately Low Expense Ratio 0.64 Sharpe Ratio 0.77 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.23% Effective Maturity 9 Years 9 Months 25 Days Modified Duration 6 Years 10 Months 10 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,536 28 Feb 21 ₹12,195 28 Feb 22 ₹12,769 28 Feb 23 ₹13,043 29 Feb 24 ₹14,226 Returns for SBI Magnum Constant Maturity Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.3% 3 Month 2.3% 6 Month 3.7% 1 Year 8% 3 Year 5% 5 Year 7.1% 10 Year 15 Year Since launch 7.8% Historical performance (Yearly) on absolute basis
Year Returns 2023 7.5% 2022 1.3% 2021 2.4% 2020 11.6% 2019 11.9% 2018 9.9% 2017 6.2% 2016 12.8% 2015 9.1% 2014 12.6% Fund Manager information for SBI Magnum Constant Maturity Fund
Name Since Tenure Rajeev Radhakrishnan 1 Nov 23 0.33 Yr. Tejas Soman 1 Dec 23 0.25 Yr. Data below for SBI Magnum Constant Maturity Fund as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 1.39% Debt 98.61% Debt Sector Allocation
Sector Value Government 98.61% Cash Equivalent 1.39% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.26% Govt Stock 2033
Sovereign Bonds | -63% ₹1,030 Cr 102,000,000 7.18% Govt Stock 2037
Sovereign Bonds | -19% ₹306 Cr 30,500,000 7.18% Govt Stock 2033
Sovereign Bonds | -17% ₹282 Cr 28,000,000
↑ 1,000,000 Treps
CBLO/Reverse Repo | -1% ₹11 Cr Net Receivable / Payable
CBLO | -0% ₹8 Cr 3. IDFC Government Securities Fund - Constant Maturity Plan
CAGR/Annualized
return of 6.6% since its launch. Ranked 2 in 10 Yr Govt Bond
category. Return for 2023 was 7.4% , 2022 was 0.7% and 2021 was 1.8% . IDFC Government Securities Fund - Constant Maturity Plan
Growth Launch Date 9 Mar 02 NAV (26 Mar 24) ₹40.5756 ↑ 0.01 (0.02 %) Net Assets (Cr) ₹341 on 29 Feb 24 Category Debt - 10 Yr Govt Bond AMC IDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.63 Sharpe Ratio 0.87 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 7.23% Effective Maturity 10 Years 5 Months 26 Days Modified Duration 7 Years 25 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,807 28 Feb 21 ₹12,602 28 Feb 22 ₹13,101 28 Feb 23 ₹13,319 29 Feb 24 ₹14,561 Returns for IDFC Government Securities Fund - Constant Maturity Plan
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.3% 3 Month 2.5% 6 Month 4.1% 1 Year 8.2% 3 Year 4.6% 5 Year 7.4% 10 Year 15 Year Since launch 6.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 7.4% 2022 0.7% 2021 1.8% 2020 13.2% 2019 14.2% 2018 11.8% 2017 6.2% 2016 10.1% 2015 9% 2014 12.6% Fund Manager information for IDFC Government Securities Fund - Constant Maturity Plan
Name Since Tenure Harshal Joshi 15 May 17 6.8 Yr. Sreejith Balasubramanian 31 Aug 23 0.5 Yr. Data below for IDFC Government Securities Fund - Constant Maturity Plan as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 3.81% Debt 96.19% Debt Sector Allocation
Sector Value Government 96.19% Cash Equivalent 3.81% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2037
Sovereign Bonds | -50% ₹171 Cr 17,000,000
↑ 1,000,000 6.54% Govt Stock 2032
Sovereign Bonds | -26% ₹87 Cr 9,050,000 7.26% Govt Stock 2032
Sovereign Bonds | -19% ₹66 Cr 6,500,000 8.24% Govt Stock 2027
Sovereign Bonds | -1% ₹2 Cr 217,000 6.79% Govt Stock 2027
Sovereign Bonds | -0% ₹2 Cr 152,000 7.17% Govt Stock 2028
Sovereign Bonds | -0% ₹1 Cr 71,000 Triparty Repo
CBLO/Reverse Repo | -3% ₹10 Cr Net Current Assets
Net Current Assets | -1% ₹2 Cr Cash Margin - Ccil
CBLO/Reverse Repo | -0% ₹0 Cr 4. DSP BlackRock 10Y G-Sec Fund
CAGR/Annualized
return of 7.3% since its launch. Ranked 8 in 10 Yr Govt Bond
category. Return for 2023 was 7.7% , 2022 was 0.1% and 2021 was 0.7% . DSP BlackRock 10Y G-Sec Fund
Growth Launch Date 26 Sep 14 NAV (26 Mar 24) ₹19.4919 ↑ 0.01 (0.05 %) Net Assets (Cr) ₹49 on 29 Feb 24 Category Debt - 10 Yr Govt Bond AMC DSP BlackRock Invmt Managers Pvt. Ltd. Rating ☆☆☆ Risk Moderate Expense Ratio 0.52 Sharpe Ratio 0.83 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 500 Exit Load 0-7 Days (0.1%),7 Days and above(NIL) Yield to Maturity 7.2% Effective Maturity 9 Years 4 Months 10 Days Modified Duration 6 Years 8 Months 8 Days Growth of 10,000 investment over the years.
Date Value 28 Feb 19 ₹10,000 29 Feb 20 ₹11,431 28 Feb 21 ₹12,210 28 Feb 22 ₹12,358 28 Feb 23 ₹12,545 29 Feb 24 ₹13,710 Returns for DSP BlackRock 10Y G-Sec Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 26 Mar 24 Duration Returns 1 Month 0.4% 3 Month 2.3% 6 Month 3.7% 1 Year 8.2% 3 Year 3.7% 5 Year 6.4% 10 Year 15 Year Since launch 7.3% Historical performance (Yearly) on absolute basis
Year Returns 2023 7.7% 2022 0.1% 2021 0.7% 2020 11.8% 2019 10.8% 2018 5.9% 2017 2.3% 2016 15.5% 2015 6.6% 2014 Fund Manager information for DSP BlackRock 10Y G-Sec Fund
Name Since Tenure Laukik Bagwe 1 Aug 21 2.58 Yr. Shantanu Godambe 1 Jul 23 0.67 Yr. Data below for DSP BlackRock 10Y G-Sec Fund as on 29 Feb 24
Asset Allocation
Asset Class Value Cash 1.23% Debt 98.77% Debt Sector Allocation
Sector Value Government 98.77% Cash Equivalent 1.23% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2033
Sovereign Bonds | -99% ₹48 Cr 4,790,000 Treps / Reverse Repo Investments / Corporate Debt Repo
CBLO/Reverse Repo | -1% ₹0 Cr Net Receivables/Payables
Net Current Assets | -0% ₹0 Cr
Since g-secs are the most liquid of all instruments in the debt Market, g-sec funds carry no credit risk because the Government of India is the borrower. Since the government typically doesn’t Default unlike a corporate, gilt funds don’t carry a credit risk.
That is also why government securities are sovereign rated. That’s as good as—or considered to be better than—a AAA rating.
Does that mean g-sec funds carry no risk? No. They carry interest rate risk. Typically, g-sec funds invest in securities that mature over a long period of time. As a debt security’s maturity goes up, it becomes more sensitive to interest rate movements.
If interest rates drop, prices of debt securities rise. The higher maturity scrips’ prices rise sharper than the rest. Similarly, when interest rates rise, prices of debt securities fall. Here’s where g-sec funds can suffer the most, as their average maturity is typically the highest.
Typically, a g-sec fund’s average maturity is higher than the fund house’s own bond fund that invests a part of its portfolio in gilts. In fact, for a bond fund manager, the easiest way to increase a bond fund’s maturity is by buying gilts. Hence, gilt funds are usually more volatile than bond funds.
As per figures provided to us by Crisil, a rating agency, gilt funds have given 3-year returns of as high as 16%
and as low as little less than zero returns—which means they have also lost money—between January 2007 and now. The 5-year returns in the same period have gone as high as 13%
and as low as 1.02%.
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A: Government securities also work like government Bonds, but their origin is slightly different. The government issues a g-sec at the behest of the Reserve Bank of India. When the government borrows money from the RBI, the central bank gathers the money from banks and insurance companies. It then passes the government's debt, and the government gathers the money from investors in the form of government securities.
A: Earlier only major business enterprises would invest in government securities. However, nowadays, individual investors can purchase government bonds by investing in government securities like Edelweiss Government Securities Fund, Axis Gilt Fund, and ICICI Prudential Gilt Fund.
A: Yes, the profit you earn from government bonds is taxable, but only if you fall under the taxable slab.
A: Yes, some tax-free government bonds such as those issued by the public sector enterprises such as the Rural Electrification Corporation or REC and the Housing Development Corporation or HUDCO. However, the Earnings from the tax-free government bonds are always lower than the taxable ones.
A: Yes, you will have to pay 10% tax on your tax-free government bonds if you sell these after one year. In this case, it will be categorized under long-term Capital gains and hence, become taxable.
A: There is hardly any risk of default involved with government bonds. If you invest in government bonds, you can be assured that you will get good returns on your investment. Additionally, these bonds are always adversely affected by market Volatility. Hence, these provide a certain amount of stability to your investments.
A: When you invest in government bonds, you have to consider the NAV and the historical growth rate. For example, if you consider Edelweiss Government Securities Fund, which has a NAV of Rs. 18.7977 and a growth rate of 13.6% and compare it to ICICI Prudential Gilt Fund, which has a NAV of Rs. 77.1462 and a growth rate of 12.6%, then the former is a better investment than the latter. Thus, while when you compare government bonds, you will have to consider NAV and growth rate.
A: Investing in government bonds is ideally suited for individuals who are averse to taking risks. Since the bonds issued by the government are not affected by Inflation and market volatility, you can be assured of an inevitable Return on Investment are the bond matures. Therefore, it is the ideal form of investment for individuals who want to protect their investment portfolio and not take risks.
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