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

Sn ap sho t o n 18 th jan 2 00 8. Sche me Obj ective Sche me Sub- Obj ective Sche me Typ e Lates t NA V (Rs/Uni t) Min imum Inves tment (R s) Lau nch D ate Entry Lo ad Exit Lo ad Abs olute R eturns as o J an- 18 -200 8 1 w eek 3 Mo nt hs 6 Mo nt hs 1 Ye ar 3 Ye ars n

HDF C Debt-short term Gilt Open 10.61 500 16-Jul-01 No Load No Load

ICICI Pruden tia l Debt-short term Gilt Open 11.61 25000 21-Jul-99 No Load No Load

DBS Cho la Debt-short term Gilt Open 10.88 10000 28-Mar-00 No Load No Load

Te mp leto n I ndia Debt-short term Gilt Open 10.53 5000 11-Feb-02 No Load No Load

Birla Sun Lif e Debt-short term Gilt Open 10.17 25000 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

Sn ap sho t o n 18 th jan 2 00 8. Sche me Ob jective Sche me Sub- Ob jective Sche me Typ e Lates t NA V (Rs/Uni t) Min imum Inves tment (R s) Lau nch D ate Entry Lo ad Exit L oad Abs olu te Returns as o 18 -200 8 3 Mont hs 6 Mont hs 1 Year 2 Years 3 Years 5 Years n Jan -

HDF C Debt-long term Gilt Open 10.69 5000 Jul-25-2001 No Load No Load   2.20% 3.10% 6.30% 11.00% 15.80% 25.80%

ICICI Pruden tial Debt-long term Gilt Open 11.6 5000 Aug-09-1999 No Load No Load   7.00% 8.20% 13.40% 20.50% 13.40% 26.40%

DBS Cho la Debt-long term Gilt Open 10.87 10000 Mar-29-2000 No Load No Load   2.20% 3.40% 5.90% 6.80% 11.10% 24.50%

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

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