Short Term Funds

On The Basis Of Snapshot

Launch Category Rating Risk Return Fund Name 1 Year Expe

Date Grade Grade Return nse
Ratio
Jan-2003 Debt: Short- Above Above DWS Short 6.12 1.80
term Avg. Avg. Maturity Reg
Feb-2002 Debt: Short- Above High HDFC Short- 6.24 0.25
term Avg. term
Oct-2001 Debt: Short- High Avg. ICICI 5.72 1.25
term Prudential
Short-term
Jun-2002 Debt: Short- Avg. Avg. JM Short-term 5.69 0.88
term Reg
Apr-2002 Debt: Short- Avg. Above Kotak Bond 6.42 1.61
term Avg. Short-term
Dec-2002 Debt: Short- Avg. Above Reliance 6.00 0.64
term Avg. Short-term

On the basis of risk & volatility

Fund Name Fund Risk Standard Beta Alpha R-

Grade Deviation Squared
DWS Short Maturity Above Avg. 3.14 -0.04 6.72 0.00
Reg
HDFC Short-term Above Avg. 2.53 0.08 6.70 0.00
ICICI Prudential High 3.73 0.13 6.01 0.01
Short-term
JM Short-term Reg Avg. 2.99 -0.06 3.63 0.00

Kotak Bond Short- Avg. 2.28 -0.04 6.54 0.00

term
Reliance Short-term Avg. 2.40 0.01 6.50 0.00
On the basis of nav’s

Fund Name NAV As on Chg. 52 Weeks As on 52 Weeks As On

from High Low
previous
DWS Short Maturity 16.8 Jun 16, 0.00 16.84 Jun 16, 15.87 Jun 17,
Reg-G 4 2010 2010 2009
HDFC Short Term 18.2 Jun 16, 0.01 18.21 Jun 8, 17.14 Jun 17,
Plan-G 1 2010 2010 2009
ICICI Pru Short-term-G 19.3 Jun 16, 0.00 19.32 Jun 7, 18.27 Jun 17,
1 2010 2010 2009
JM Short Term Reg-G 18.2 Jun 16, 0.00 18.27 Jun 16, 17.29 Jun 17,
7 2010 2010 2009
Kotak Bond Short- 18.0 Jun 16, 0.00 18.03 Jun 14, 16.94 Jun 17,
term-G 3 2010 2010 2009
Reliance Short-term-G 17.6 Jun 16, 0.00 17.63 Jun 8, 16.63 Jun 17,
3 2010 2010 2009

Interpretation of Short Term Funds

 On the basis of return rate Kotak heads the first position with the highest
return rate of 6.42% where as Reliance seek 4th position with 6.00% return
and JM heads 6th position.
 On the basis of ratings Reliance heads the first position with four rating
star. These rating stars are given by either Crisil or ICRA. The more the
ratings star the more better the performance of the funds, so it tells us in
short term fund reliance is doing well as compared to others.
 Higher the expense ratio, the more the company has to expend. So DWS
short maturity has the highest expense ratio of 1.80 followed by Kotak
bond with 1.61 and reliance having the 2 nd least expense ratio which is 0.64.
So the company has very low expense which is very good for the company
and Reliance can easily more work on marketing strategy.
 The standard deviation of reliance is quite low which is only 2.40 which is a
good sign and shows that the fund is able to generate stable and avg.
returns over the year, whereas the standard deviation for ICICI prudential is
high which is 3.73 and is not able to generate good returns.
  The entire fund has equal R-square, this shows that all funds are equally
affected by factors other than market condition.
 Beta is the statistical measure of portfolio sensitivity to market movement,
if the beta is higher than it shows the fund is very sensitive to market and
vice-versa. So here only HDFC, ICICI and reliance have the positive value
whereas all the other funds have negative value.
 Alpha coefficient measures risk adjusted performance due to the specific
security rather than the overall market. A high value for alpha implies that
the stock or mutual fund has performed better. So here we see alpha value
for DWS is highest with 6.72 and reliance with the 3rd lowest value of
6.50.So this shows that DWS has perfumed much better than the others
funds and Reliance performed quite well.
 As this is the open ended scheme so there is neither the entry load nor the
exit load for any funds.
The NAV of the fund differs because of the launch date and the risk and return provided by the
fund company.