Debt mutual fund (MF) schemes are set to register the best calendar year (CY) performance in the last four years despite no changes in the interest rate.
An analysis of one-year performance of debt funds shows that many of the schemes are set to deliver double-digit returns in CY24. Long-duration funds have been the best performers among schemes that invest only in top-rated papers. All seven schemes in the category have delivered more than 10 per cent in the last one year.
Most gilt funds and dynamic bond funds are also up more than 9 per cent, shows data from Value Research.
The strong performance, according to experts, can be attributed to several positive developments during the year, including the inclusion in global bond indices and fiscal prudence.
"Bond yields started the year at elevated levels, under tight liquidity conditions, high inflation, and a cautious Reserve Bank of India (RBI) stance. During the year, a number of factors turned positive for domestic bonds. Headline inflation started easing and core inflation, i.e., headline minus food and fuel, collapsed to multi-year lows," said Sandeep Bagla, chief executive officer (CEO), Trust Mutual Fund.
Indian government bonds got included in the JP Morgan Global Bond Index this year. Domestic bonds are also set to get included in FTSE Russell EMGB Index and Bloomberg EM Local Currency Government Index in 2025.
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