GILT FUND

PRESENTED BY GROUP NO-07 VARUN RAJASEKARAN SHASHI BHUSHAN PARAS GANDHI GANGADHAR KALESHE KOMAL MANE SANDHYA RAWAT SHEETAL DHORE

INTRODUCTION
These are mutual fund schemes. Invest in medium and long term government securities and money market instrument. Originated in Britain Stick to high quality low risk debt. First Gilt fund December 1998 RBI provides liquidity and other support

Facilities Provided To Gilt Funds

Liquidity support: to support short-term liquidity requirements of such mutual funds SGL and current accounts: opens one SGL account and one current account Funds transfer facility :transfer of funds from one center to another under Access to call market: the call money market as lenders Ready forwards: undertake ready forward transactions in Government securities market.

Eligibility for Liquidity support

All gilt funds public and private sector, open-ended or close-ended Have the approval of SEBI

Conditions

Re-purchase agreements Price of securities Securities in multiples of Rs. 10 lakh Maximum period of 14 days at a time The repo rate Remittance facility scheme Cannot be used for on-lending in the call/notice money market Right to partially accept/reject any application Can call for all relevant information w.r.t their operations

Requirement for Drawl

1.

2. 3. 4.

5.
6.

Application to chief general manager, internal Debt management cell, Reserve Bank of India ,central office. Submission to internal Debt management cell. Return of duplicate copy and lodge SGL transfer form to security department RBI Current account Debit authority to RBI Arrangement for repurchase of securities Receive the liquidity amount

Snapshot on 18th jan 2008. Scheme Objective Scheme Sub-Objective

HDFC Debt-short term Gilt

ICICI Prudential
Debt-short term Gilt

DBS Chola Debt-short term Gilt

Templeton India
Debt-short term Gilt

Birla Sun Life

Debt-short term Gilt

Scheme Type
Latest NAV (Rs/Unit) Minimum Investment (Rs)

Open
10.61 500

Open
11.61 25000

Open
10.88 10000

Open
10.53 5000

Open
10.17 25000

Launch Date
Entry Load Exit Load Absolute Returns as on Jan18-2008 1 week 3 Months 6 Months 1 Year 3 Years

16-Jul-01
No Load No Load

21-Jul-99
No Load No Load

28-Mar-00
No Load No Load

11-Feb-02
No Load No Load

15-Oct-99
No Load No Load

0.10% 2.24% 3.14% 6.31% 4.98%

0.40% 7.04% 8.01% 13.52% 8.09%

0.08% 2.18% 3.34% 5.92% 3.50%

0.08% 1.89% 3.01% 6.38% 5.53%

0.10% 1.41% 2.60% 5.52% 5.32%

NAV of short term gilt funds

ICICI PRUDENTIAL

BIRLA SUN LIFE

TEMPLETON INDIA

DBS CHOLA HDFC

Snapshot on 18th jan 2008.

Scheme Objective Scheme Sub-Objective Scheme Type Latest NAV (Rs/Unit) Minimum Investment (Rs) Launch Date Entry Load Exit Load Absolute Returns as on Jan-18-2008 3 Months 6 Months 1 Year 2 Years 3 Years 5 Years

HDFC
Debt-long term Gilt Open 10.69 5000 Jul-25-2001 No Load No Load

ICICI Prudential Debt-long term Gilt Open 11.6 5000 Aug-09-1999 No Load No Load

DBS Chola
Debt-long term Gilt Open 10.87 10000 Mar-29-2000 No Load No Load

DSP-Merrill Debt-long term Gilt Open 11.8 5000 Sep-23-1999 No Load No Load

2.20% 3.10% 6.30% 11.00% 15.80% 25.80%

7.00% 8.20% 13.40% 20.50% 13.40% 26.40%

2.20% 3.40% 5.90% 6.80% 11.10% 24.50%

4.30% 5.20% 9.00% 12.80% 20.80% 29.60%

BIBLIOGRAPHY
WWW.MYIRIS.COM WWW.RBI.COM WWW.MUTUALFUNDINDIA.COM WWW.MONEYCONTROL.COM