The fund employs an investment process with a focus on safety, liquidity, and returns
ICICI Prudential Gilt remains an ideal choice for investors seeking to invest in long-term government bond funds. The objective of this fund is limited to generating returns through investment predominantly in debt securities issued by the government.
Rahul Goswami is fund’s investment strategist and Anuj Tagra is the co-manager of the fund.
The fund employs an investment process with a focus on safety, liquidity, and returns. It has a comprehensive in-house investment approach driven by a seasoned group of investment and risk management professionals.
Close communication between the managers and analysts is encouraged for idea generation. The emphasis is on top-down macro analysis and call on duration is determined by conducting a detailed analysis of various influencing factors such as inflation, GDP growth, trade deficit, money supply, private sector and government borrowings, currency movement, fiscal/monetary policy, and global factors.
The interest-rate direction call, the shape of the yield curve, and anticipation of yield-curve movement form the basis of portfolio positioning. Portfolio construction is further strengthened by incorporating short-term factors that are expected to influence price behaviour. Rahul Goswami pays heed to valuation conduct spread analysis and seeks opportunities other investors may have overlooked. He scouts for government securities that are mispriced. He doesn’t mind taking bets against the grain if the risk/reward is favourable. That said, trading is not the core of the investment process, as the main focus is on getting the interest-rate directional calls right. Goswami is focused mainly on medium- to longer-term trends but has displayed an ability to combine them with shorter-term cyclical considerations to build portfolios that are well-positioned to take advantage of all market conditions.
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