Mutual Funds deployed whopping one lakh crore in T-Bills

Mutual fund exposure to Treasury Bills increased to INR 1.82 lakh Cr in May’20 registering month-on-month increase of more than rupees one lakh crore ( the exposure to T-Bills in April was 0.816 lakh cr). Treasury bills or T-bills are short term debt instruments issued by the Government of India and are presently issued in three tenors, namely, 91 day, 182 day and 364 day. Treasury bills are zero coupon securities and pay no interest. Instead, they are issued at […]

Most Debt Mutual Funds witness good inflows – of course except for credit category !

Asset under Management data as on 29th May’20 (last working day of the month) shows that most of the debt mutual fund schemes witnessed good growth on a month-on-month basis – as illustrated below. Category wise AUM for May’20 : Category NameAUM as on May end (Crs)% Change (m-o-m)Liquid Fund4,95,04522%Short Duration Fund94,8284%Corporate Bond Fund91,6576%Banking and PSU Fund89,37613%Overnight Fund86,6385%Low Duration Fund77,1573%Ultra Short Duration Fund72,4575%Money Market Fund63,95115%Floater Fund32,4313%Credit Risk Fund30,262-16%Medium Duration Fund19,878-8%Dynamic Bond Fund17,0661%Gilt Fund16,28419%Medium to Long Duration Fund9,9203%Long Duration Fund2,31418%Gilt Fund […]

List of NCD Issuance’ till mid-May – its same old story!

The thirty day window for the fourth and last tranche of TLTRO-1 will close in another one week and its already been more than twenty days since bidding for TLTRO-2 took place, however the NCD issuance data till date (15th May) shows that there hasn’t been any trickle down of capital to lower rated entities yet. Almost rupees thirty thousand crore worth of NCDs have been raised during the first half of May – this excludes the publicly placed NCDs […]

India needs PCG 2.0 and not TLTRO 2.0!

Over the past few days, RBI Governor has been actively engaging with the various industry bodies of the financial sector – NBFCs, MFIs, HFCs, Mutual Fund, IBA ( PSU and Private Banks) to gauge the needs of the stakeholders and also to specifically understand the rationale for lower subscription of TLTRO 2.0. In the below article, we discuss ‘ Why the economy needs Partial Credit Guarantee Scheme (2.0) and not the much publicised TLTRO 2.0 ? ‘ : A. The […]

List of NCD Issuances for April

With the deployment of funds raised by banks under the TLTRO window taking place – April has been an unusually busy month for the Indian Corporate Bond Market witnessing a long list of NCD issuances getting placed. Approximately rupees eighty five thousand crore capital has been raised by thirty six companies across sectors from the market . This excludes the market linked debenture issuance, State Government’ Guaranteed bonds, unrated privately placed NCDs issued by few real estate/infra companies etc.

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