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Tax saving tips ensuing this year's budget: http://economictimes.indiatimes.com/wealth/tax/budget-2017-how-to-cut-tax-outgo-and-maximise-your-take-home-salary/articleshow/56930105.cms?adcode=102
(Source: The Economic Times)

Income Tax Saving Window: How to cut tax outgo and maximise your take home salary - The Economic Times If your basic salary is over 1 lakh a month, most of your 80C limit will be used up by Provident Fund contribution alone, if you have opted for it.

ECONOMY AFTER TRUMP AND DEMONITIZATION

The US election in itself was very controversial, as everyone was looking forward to the victory of Hillary Clinton but her “damn emails” reportedly made her lose her won battle, however after the victory of the US Presidential candidate Donald Trump on 8th November led to a panic in investors. Investors in stock market currently regard the Trump Presidency as a relatively low probability development. The predictions by the economists clearly stated that the market would drop down by 10% , causing a huge panic state in the global stock market. The initial jitters however , gave way to strong market rally. The same day , the Indian Prime minister Narendra Damodardas Modi announced demonetization of Rs 500 and Rs 1000 notes, clearly stating them not to be a legal tender anymore leding to an heightened market votalitity.
The impact of these two spread across the asset classes which are discussed in brief as follows :

EQUITIES

The day after demonetization was announced and trump won the US Presidential Election , the BSE Sensex opened with a massive loss of 1300 points although it recovered later. It rallied on 10 November and reported net gains for these two days of trading, only to tank 700 points the next day. On the president elect- trump, market track news on the policy front as the focus is turned towards the US Fed policy meet. After the victory of trump however, the 10- year bond yield in the US has gone above 2%, after a gap of eight months, and the market has started factoring an 80% chance of a rate hike in December, which clearly states that the volatility will return. “The global unfolding of these two events and the market jitters created by them presented a value buying opportunity”. However, the impact of these events is not over and shouldn’t be ignored by the investors. The ripple effect of demonetization cannot be understated. There may be a negative impact on the GDP in the Oct– Dec quarter, as consumption shock gets transmitted into the system. Some rupee appreciation in the forex markets is also expected as notes in circulation will decrease. The sectors with a lower incidence of cash transactions may see rise in investment after demonetization in India. And the sectors with a higher incidence of cash transactions will suffer the most, including real estate, luxury items, jewellery, retailing, logistics, consumer durables, SME/rural lending, etc. Here the point to be noted is 86% of the currency in circulation has become unusable for commercial transactions. Consumption oriented sectors like building materials, consumer durables and retailing will be the biggest beneficiaries in 2017. Long term positive for banking sector due to expected push on CASA and expected increase in fee-based income. Infact , It is best to avoid realty stocks as the sector will be among the worst affected by the demonetization move. The housing finance sector, will also be under pressure. “Housing finance companies are likely to witness some stress on loans given to real estate developers who are likely to face a liquidity crunch in the short term.
Business domains with exposure to unaccounted wealth should be avoided. Even if 20% of the existing Rs 500 and Rs 1,000 notes are not exchanged, it will amount to a permanent wealth destruction of Rs 3 lakh crore. This could impact sectors such as real estate, jewellery and banks. The consumer non-durables sector is also likely to face some heat. While the impact on small-ticket discretionary spending will likely be minimal and short term, high-value items can experience long-term impact. The luxury goods market is likely to get affected as this move represents an erosion of real wealth to a large number of people. Mostly felt in luxury cars, SUVs, gems and jewellery and high-end branded products.
Since Trump has repeatedly said that his government will stop jobs from leaving the US, the BPO and the IT industry may suffer. Trump has talked about restricting entry of skilled labour from overseas countries to protect jobs in the US. So, the IT sector could remain under pressure, at least in the near term.
On the positive side, some export-oriented sectors may benefit if the next US president maintains his view of China as a potential adversary and increases imports.

Gold

Gold has been the most seriously impacted asset by the duo events, investors made the gold glitter more with the rise in their investments in it. The demonetization has boosted Indian investments sentiments such that it has reinforced the belief in gold as a safe heaven. Several households converted their currency into gold after the demonetization move was made public on the 8th of November. Infact several gold jewelers opened their shops uptil late midnight to facilitate the same.

Debt

The debt market reacted positively to the trump’s victory and demonetization effect leading to decline in inflationary pressures as demand comes down in the short term keeping prices in check as the ability to hoard commodities and other assets will be greatly reduced. Improvement in government finances due to shift of the black economy to white—increased tax compliance and better revenues for government— is another positive aspect. The debt market has also started expecting further rate cuts, which, again, is good news for debt investors. “With the household inflation expectations coming down, the possibility of rate cuts is increasing.”
Real estate
The real estate is the biggest receiver of black money. The short term impact on the sector would be very serious(adversely). The number of transactions and prices in residential and land markets may see a substantial downward trend. The impact will be felt across the board with tier-2 and tier-3 markets taking a larger hit .With the black money component going away, land prices will fall gradually. This will ultimately benefit the end users by bringing down per square feet prices.
Key macro implications-
We believe that this move is likely to bring down corruption in the economy, increase tax collection, broaden tax compliance substantially and provide a boost to economic growth by amalgamating shadow economy with the formal economy and lead to a marked shift towards organized players.

a) Higher GDP growth as black economy is subsumed in the formal economy- The World Bank in July, 2010 estimated the size of the shadow economy for India at 23.2% in 2007. Various studies now point this number to be higher at 25% (i.e. USD 500-550 billion). A parallel shadow economy generates inflation and reduces revenue inflows for the Government, which could have been otherwise used for welfare and developmental activities. This clampdown on black money would lead to integration of these unaccounted for transactions in the mainstream economy leading to higher reported GDP number.
b) Higher tax-to-GDP ratio from proper reporting of income: Income tax collection is expected to see an uptick as funds earlier unaccounted for enter the banking system and eventually get taxed. On a USD 2 trillion economic base, total unaccounted tax is estimated to be USD90-100billion as against the actual tax collection of USD225-250billion in FY16.
c) Higher household savings in financial assets: Household sector saves either in the form of a) financial assets (40% of total household savings) including currency, net deposits with banks, investment in shares and debentures, life insurance funds, provident and pension funds or b) physical savings (60% of total household savings) including real estate, gold, etc. Historically, savings in physical assets has been higher compared to financial assets. However, with the attractiveness of other asset classes diminishing due to expected fall in asset prices, skew in savings mix is likely to correct favouring financial products. Also, a huge upside can also be expected from the shift in unorganized money lending and informal investment schemes, such as Chit funds, to the formal system, thereby creating a robust demand for financial assets. We further believe that a higher proportion of savings in financial assets would get channelized through equity markets, including direct equity and mutual funds products, due to relatively higher return profile compared to other financial products.

Summary of macroeconomic impact

Macroeconomic Indicator
Short term Impact (H2FY17)
Long term impact (12 month and beyond)

GDP Negative – Consumption and investment demand to suffer due to cash crunch Positive – Rise in consumption due to efficient price discovery and higher investment in economy supported by the rise in tax collection to have a long term positive impact.

Fiscal deficit/ tax collection Neutral – Higher tax collection may come with a lag Positive – Better tax compliance and tax collection on nearly 25% of the unaccounted for funds to help improve fisc position.

Investments Negative – Short term working capital constraints and refinement of upcoming tendering process may cause some delays Positive – Higher tax collection to provide flexibility for increasing investments in creating infrastructure
Inflation Positive – To lower as downward pressure on prices persist due to lower demand Neutral – Unlikely to impact the long-term trend

Digital payment Positive – Higher incentive to use digital payment platforms Positive – Larger population base to be brought on board the digital ecosystem

Sectoral implications: Sudden tightening of liquidity is likely to impact demand across many sectors in the near term. With 86% of the currency in circulation becoming unusable for commercial transactions we believe that the sectors with a higher incidence of cash transactions will suffer the most, including real estate, luxury items, jewelry, retailing, logistics, consumer durables, SME/rural lending, etc. Thus, the widely anticipated demand upturn in the second half of FY17 on the back of good monsoon, pay bonanza for government employees and festive-season buying may see some disruption. Despite near term glitches in specific sectors, expecting significant long-term benefits to emanate from this move. We believe that across sectors a structural shift would be visible due to
a) Rising adoption of high end technology creating a robust digital financial ecosystem- we expect private sector banks to be the key beneficiary of this trend leading to higher fee based income and increase in savings deposits
b) Clear incentivization to shift from the unorganized to the organized platforms – Consumption oriented sectors like building materials, consumer durables and retailing would be the biggest beneficiary of the shift
c) Improvement in transparency leading to better governance standards. – this will have a far-reaching effect across all the sectors in the form of efficient price discovery, higher transactions through the formal system, etc.
Impact of this move on the performance of specific sectors and companies is analyzed below.
Sector Impact Factors Impact on companies under coverage:-

Real estate- Negative Negatives
• Project ex*****on delays: Black component in real estate transaction would reduce impacting working capital availability with the builders
• Lowering of demand: Micro markets with high investment demand to suffer the most in the medium term.
• Price correction: Reduction in land cost and lowering of demand to put pressure on prices.
Positives:-
• Shift towards organized players: Curb on cash transactions will impact unorganized players, creating a shift towards the organized segment
• Efficient price discovery: Transparency in the system will lead to efficient price discovery for genuine buyers Long term positive for organized players like Godrej Properties
Banks Positive Negatives
• LAP portfolios to suffer: LTVs on LAP loans to rise making these assets riskier
• Retail portfolio slowdown in short-term: Banks may have to relook underwriting processes for retail and rural financing for the next few months implying potential slowdown
• Asset quality dip:a) Cash based EMI collection to be impacted leading to higher NPLsb) Rising risk on the LAP portfolio due to asset value contraction leading to high LTVc) Small business owners (SMEs/MSME) will find difficult to make payments on time
Positives:-
• Liability profile to improve- CASA improvement as unaccounted cash finds way in the mainstream banking system
• Higher fee income: Higher e-transactions, rising demand for credit and debit cards to result in higher fee income for the banks equipped with latest technology Long term positive for IndusInd Bank and Axis Bank due to expected push on CASA and expected increase in fee-based income.
NBFCs Negative Negatives:-
• Pressure on LAP portfolio: May slow down due to rising risks
• Rural lending slowdown: Lending to rural markets would be impacted as collection is mostly in cash
• Asset quality dip:
a) Cash based EMI collection to be impacted leading to higher NPLsb) LTVs on LAP loans to rise making these assets riskierc) Small business owners (SMEs/MSME) will find difficult to make payments on time
Positives
• Demand pick up in CD financing: Cashless transaction will spur demand for CD financing options Pressure expected in H2FY17 on the LAP, SME and rural portfolios of Capital First, Bajaj Finance, Edelweiss and L&T Finance but over 12-15 months this trend is expected to even out.
Housing Finance Negative Negatives
• Loan growth to slow down: Anticipated project delays and overall price correction to impact loan book growth in the medium term. However, in the long term it is a positive for the HFCs due to rising eligibility limits and no cash component in transactions.
Positive
• Current Portfolio: May not be impacted as most lending is to genuine home buyers Negative for the loan book growth in the medium term for Repco and DHFL, asset quality however may remain intact.
Cement Negative Negatives
• Indirect impact on demand: – 60-65% of consumption is by the real estate sector, therefore demand may be impacted due to expected slowdown in the real estate sector
• Pricing pressure – Cement companies may cut down prices to tackle low demand, a rising cost scenario does not bode well for profitability of the sector. Neutral impact on Ultratech as we expect demand contraction from housing to be compensated by the rise in infrastructure demand. Also, despite pricing pressure co. is expected to report better profitability supported by improving efficiency.
Building material Negative Negatives
• Demand slowdown: Demand for building materials such as tiles, sanitary ware, plywood, laminates, etc. would see an indirect impact due to lower demand from the real estate segment.
• Pressure on receivables: Companies focused on tier-2 and 3 cities/towns, where a large part of the transaction is on cash basis, may face cash crunch in the short-term
Positives
• Move towards organized segment: Sector to benefit from the shift towards organized players Long term positive for building products players due to increasing shift in trade towards organized players including Cera Sanitayerware and Greenply.
Retailing Short term negative Negatives
• Gold and jewelry- Demand for gold and jewelry is expected to drop as traditionally large unaccounted cash transactions are a common occurrence in this segment
• Consumer Durables- Most consumption is B2C and ticket size is small prompting cash transactions (70-75% of current sales), temporary dip in volumes expected
Positives
• Discretionary items– Demand for high-value luxury items may not be impacted as PAN disclosure is mandatory for Rs 2 lakh plus transactions, even currently.
• Non-discretionary goods– Demand is sticky, therefore no long-lasting impact anticipated on these products
• Move towards organized segment in jewelry – Curb on cash transactions will be a huge positive for the organized players. Neutral for the luxury watch retailer, KDDL as plus Rs.2 lakh transactions already have a mandatory PAN disclosure requirement.
Long-term positives for the Consumer Durable plays, like Havells and Crompton Greaves Consumer electrical due to increasing shift towards organized segment.

Oct. 11 -- New data shows a surge in money leaving China in yuan rather than in dollars. Goldman Sachs says the outflows may be bigger than they look. Bloomberg's Tom Mackenzie reports on "Bloomberg Daybreak: Asia."

China’s currency outflows may be bigger than they look, with Goldman Sachs Group Inc. warning that a rising amount of capital is exiting the country in yuan rather than in dollars.

While the nation’s foreign-exchange reserves have stabilized and lenders’ net foreign-exchange purchases for clients have fallen close to a one-year low, official data show that $27.7 billion in yuan payments left China in August. That’s compared with a monthly average of $4.4 billion in the five years through 2014. Such large cross-border moves can’t be explained by market-driven factors and need to be taken into account when measuring currency outflows, according to MK Tang, Hong Kong-based senior China economist at Goldman Sachs.



Any sign of increased capital outflows could disturb a recent calm in China’s foreign-exchange market, adding to pressure from a potential Federal Reserve interest-rate increase and denting the yuan’s image as the world’s newest globalreserve currency. The yuan fell to a six-year low on Monday, adding to outflow pressures.

“There is some window guidance from the central bank that limits companies’ dollar conversion onshore, so they need to move the money overseas in yuan," said Harrison Hu, chief Greater China economist at Royal Bank of Scotland Plc in Singapore. "But they don’t have a strong willingness to hold the yuan due to depreciation expectations, so they sell it to offshore banks. This pressures the offshore yuan’s exchange rate."



Figures on the size of Hong Kong’s pool of the Chinese currency suggest cross-border transfers aren’t staying there for long. Yuan deposits in the city dwindled to a three-year low of 653 billion yuan in August, indicating that some of the inflows are being used to buy foreign currency, said Li Liuyang, a market analyst at Bank of Tokyo-Mitsubishi UFJ in Shanghai.

Goldman Sachs started including yuan funds in its analysis of outflows in July, after noting that cross-border movement of the currency masked actual pressures. The bank estimates that 56 percent and 87 percent of outflows took place through the offshore yuan market in July and August, respectively. A Bloomberg gauge -- which doesn’t include direct yuan outflows -- estimates that more than $550 billion left the country this year through August.

“There have been $265 billion in net yuan outflows since last October through August, primarily due to trade settlement in yuan,” said Goldman’s Tang, citing data from the People’s Bank of China and the State Administration of Foreign Exchange. “This flow has helped lessen the overall outflow pressure faced by China because it means that importers did not have to buy as much foreign exchange to pay for imports.”

Depreciation Pressure

The yuan has weakened 3.3 percent against the dollar this year, the most in a ranking of Asian currencies, while a Bloomberg survey’s median estimate predicts a further decline of 0.5 percent the rest of this year. The currency traded onshore fell to 6.7154 against the dollar on Tuesday, the weakest since September 2010, and was trading at 6.7143 as of 1:57 p.m. in Shanghai. While necessary to help an economy growing at the slowest pace since the 1990s, the Chinese currency’s weakness has exacerbated outflow pressures, which have in turn prompted the authorities to clamp down on channels of taking money out of the country.

Stricter Controls

Curbs were tightened after a yuan devaluation last year spurred an exodus of funds, while the overnight cost to borrow the offshore currency in Hong Kong surged above 20 percent twice this year amid speculation the PBOC mopped up liquidity to boost the exchange rate. The central bank last month denied it intervened.

China’s foreign-exchange reserves, the world’s largest, have hovered around the $3.2 trillion level since February, after shrinking $323 billion in four months as the PBOC sold dollars to limit declines in the yuan. The hoard declined to $3.17 trillion in September.

“We have seen a structural change in China’s capital outflows, with net outbound payments predominantly in yuan this year,” said Raymond Yeung, chief economist at Australia & New Zealand Banking Group in Hong Kong. “This relieves the pressure of yuan depreciation in the onshore market. Currency conversion is not taking place onshore. That is why we are not surprised that the foreign reserves have been preserved.”

*Ban on circulation of trading tips via social media - 8 things you should know*

The SEBI has issued consultation paper proposing amendments or clarifications to the investment adviser regulations. The objective of the consultation paper is to specify uniform standards across all the intermediaries/persons engaged in providing investment advisory services irrespective of whether such activity is incidental to their primary activity or not and to address the gaps or overlaps in legal or regulatory standards.

The key highlights of consultative papers are as under:
*1. Ban on circulation of trading tips via social media platform:* SEBI has proposed to curb the practice of providing trading tips (containing buy or sell recommendation on securities) to the general public through any social media platform such as SMSs, email, telephonic call, whatsapp, ChatOn, Wechat, Twitter, Facebook, etc.

*2. Restrictions on mutual fund distributors:* Under the existing norms, a mutual fund distributor can sell mutual fund products and he can also provide basic advice on mutual fund products and in executing the transactions. It has been proposed that only corporate entities registered as investment advisers should offer ex*****on or distribution services. Further, mutual fund distributors should be registered as investment advisors if they want to engage themselves in providing incidental or basic investment advisory services on mutual fund products.

*3. No exemption for professionals:* Under the existing norms Chartered Accountants, Company Secretaries, Portfolio investors, stock brokers, etc., are exempted from registration to act as investment advisors. But now SEBI has proposed that all the persons engaged in financial planning services shall mandatorily be required to register themselves as investment advisors.

*4. Banon schemes, games, and competitions:* It is observed that various entities are offering schemes, competitions, games, leagues, etc., related to securities market. Such Schemes are generally based on predicting the price movement of securities and they are neither approved nor endorsed by SEBI. In order to protect the interest of the investors in the securities market and to curb such practice of offering schemes, etc., it is proposed to add new provision to restrict such activities.

*5. Compliance Audit:* An investment adviser shall conduct yearly audit in respect of compliance with regulations from a CA or CS. Now it has been proposed that the compliance audit shall be completed within 3 months after the end of financial year and adverse observances or comments shall be brought to the notice of market regulator SEBI.

*6. Mode of acceptance of fee:* Under the existing norms an investment advisor can accept fees in any mode including cash. Now SEBI has proposed that an investment adviser shall accept fees strictly by account by payee crossed cheque/demand draft or by NEFT/ RTGS/IMPS or any other mode allowed by RBI.

*7. Uniform advertisement code:* Under the existing framework, there are no guidelines prescribed forissuing advertisement on mutual funds. Now SEBI has proposed uniform guidelines for issuing advertisement on mutual funds.

*8. Details of website:* Many investment advisers are providing investment advisory services through websites without disclosing their details in a proper manner and thereby creating confusion to the investors with regard to authenticity of their registration. To clear the ambiguity, it has been proposed that all investment advisers shall display following details more prominently -
- Their name as registered with SEBI,
- Registration number, validity of registration, own logo, if any, and
- Complete address with telephone numbers on its portal /website, if any,
- Notice/display boards, advertisements, publications, know your client forms, client agreements and correspondences with the clients

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Top 10 Mutual Funds in India



The number of mutual funds made available to the general public has increased significantly over the past few years. As a result, you now have an impressive number of options to choose from, and regardless of which category you wish to invest in, following are the top 10 mutual funds in each, as rated by CRISIL.

Top 10 Large Cap-oriented Equity Funds

Funds that invest a relatively large percentage of their corpus in companies that have large market capitalisation are known as Large Cap-oriented Equity Funds. Following are the top 10 Large Cap-oriented Equity Funds:

1. Franklin India Opportunities Fund

2. Kotak Select Focus Fund

3. SBI Blue Chip Fund

4. Birla Sun Life Frontline Equity Fund

5. Birla Sun Life Top 100 Fund

6. BNP Paribas Equity Fund

7. Franklin India Bluechip Fund

8. IDBI India Top 100 Equity Fund

9. JP Morgan India Equity Fund

10. Religare Invesco Business Leaders Fund

Top 10 Diversified Equity Funds

Diversified equity funds are those that focus or specialise funds, which focus on stocks in particular industries such as utilities, pharmaceuticals, biotechnology, etc., or in specific regions such as South America, Asia, etc. Following are the top 10 Diversified Equity Funds:

1. ICICI Prudential Exports and Other Services Fund

2. L&T India Value Fund

3. Principal Emerging Bluechip Fund

4. SBI Magnum MultiCap Fund

5. UTI MNC Fund

6. Birla Sun Life Advantage Fund

7. Franklin India Flexi Cap Fund

8. ICICI Prudential Value Discovery Fund

9. Religare Invesco Contra Fund

10. Tata Ethical Fund

Top 10 Small and Mid-Cap Equity Funds

Small and Mid-Cap Equity Funds are those that invest their corpus in small- and mid-sized companies. Since market capitalisation determines the size of a company, small and mid-sized organisations are usually those that range between $2 billion and $10 billion in terms of market capital. Following are the top 10 Small and Mid-Cap Equity Funds:

1. DSP BlackRock Micro Cap Fund

2. Franklin India Smaller Companies Fund

3. Mirae Asset Emerging Bluechip Fund

4. Birla Sun Life MNC Fund

5. Canara Robeco Emrging Equities

6. Franklin India Prima Fund

7. JP Morgan India Mid and Small Cap Fund

8. Reliance Small Cap Fund

9. SBI Magnum Midcap Fund

10. Birla Sun Life Midcap Fund

Top 10 Thematic – Infrastructure Funds

Thematic funds, as the name might suggest, are those that invest money into certain themes. Following are the top 10 Thematic – Infrastructure Funds that invest their corpus into the infrastructure industry:

1. Franklin Build India Fund

2. Kotak Infrastructure and Economic Reform Fund

3. Birla Sun Life India Reforms Fund

4. Canara Robeco Infrastructure Fund

5. L&T Infrastructure Fund

6. Birla Sun Life Infrastructure Fund

7. DSP BlackRock India T.I.G.E.R Fund

8. HSBC Infrastructure Equity Fund

9. JM Basic Fund

10. Sundaram Infrastructure Advantage Fund

Top 10 Consistent Performers – Equity Funds

Equity funds are those that invest mainly in stocks. They are also called stock funds, and are categorised based on the size of the company, the geography, and the investment style of the holdings in its portfolio. Following are the top 10 consistent performers so far as equity funds are concerned:

1. Birla Sun Life India GenNext Fund

2. Birla Sun Life MNC Fund

3. Birla Sun Life Top 100 Fund

4. DSP BlackRock Micro Cap Fund

5. Franklin India High Growth Companies Fund

6. Franklin India Smaller Companies Fund

7. ICICI Prudential Exports and Other Services Fund

8. SBI Blue Chip Fund

9. Tata Ethical Fund

10. UTI MNC Fund

Top 10 Equity Linked Savings Schemes

Abbreviated as ELSS, Equity-Linked Savings Schemes are diversified, open-ended equity schemes that offer tax benefits. Following are the top 10 Equity-Linked Savings Schemes:

1. Axis Long Term Equity Fund

2. Birla Sun Life Tax Relief 96

3. Birla Sun Life Tax Plan

4. Franklin India Taxshield Fund

5. Religare Invesco Tax Plan

6. Tata India Tax Savings Fund

7. BNP Paribas Long Term Equity Fund

8. DSP BlackRock Tax Saver Fund

9. ICICI Prudential Long Term Equity Fund (Tax Saving)

10. IDFC Tax Advantage Fund

Top 10 Index Funds

Index funds are those that comprise a portfolio which is created to track or match the components of a market index, like S&P 500 (Standard & Poor’s 500 index). Index funds usually offer broad market exposure, low portfolio turnover and low operating expenses. Following are the top 10 index funds:

1. Goldman Sachs Nifty Exchange Traded Scheme

2. Kotak Nifty ETF

3. ICICI Prudential Nifty ETF

4. IDBI Nifty Index Fund

5. UTI Nifty Index Fund

6. HDFC Index Fund – Nifty Plan

7. HDFC Index Fund – Sensex Plan

8. IDFC Nifty Fund

9. Principal Index Fund

10. Reliance Index Fund – Nifty Plan

Top 10 Balanced Funds

Balanced funds are those that maintain a healthy balance of bond and stock investments, usually a 50-50 mix. Following are the top 10 balanced funds in India:

1. Franklin India Balanced Fund

2. L&T India Prudence Fund

3. Birla Sun Life Balanced 95 Fund

4. HDFC Balanced Fund

5. Tata Balanced Fund

6. Canara Robeco Balance

7. DSP BlackRock Balanced Fund

8. ICICI Prudential Balanced Fund

9. Reliance Regular Savings Fund – Balanced

10. SBI Magnum Balanced Fund

Top 10 Aggressive Monthly Income Plans

Monthly income plans are those that offer a predetermined monthly payment to the investor. Senior citizens or retired individuals are the main targets for these plans as they provide a stable form of income. Following are the top 10 aggressive monthly income plans in India.

1. Franklin India Monthly Income Plan

2. UTI MIS Advantage Plan

3. Birla Sun Life MP II – Wealth 25 Plan

4. ICICI Prudential MP 25

5. Reliance Monthly Income Plan

6. BNP Paribas Monthly Income Plan

7. HDFC Monthly Income Plan – LTP

8. HSBC MIP – Savings

9. IDFC Monthly Income Plan

10. Kotak Monthly Income Plan

Top 10 Long Term Gilt Funds

Long Term Gilt Funds are those that invest only in government securities that offer long-term benefits and are preferred by conservative and risk averse investors. Following are the top 10 long term gilt funds in India:

1. L&T Gilt

2. SBI Magnum Gilt Fund – Long Term

3. Franklin India G-Sec Fund – Long Term

4. ICICI Prudential Gilt – Investment – PF Option

5. HDFC Gilt Fund – Long Term Plan

6. Reliance Gilt Securities Fund

7. Birla Sun Life Govt. Securities – Long Term

8. Canara Robeco Gilt PGS

9. Franklin India G-Sec Fund – Composite Plan

10. ICICI Prudential Long Term Gilt Fund

Top 10 Long Term Income Funds

Long Term Income Funds are like fixed deposits that actively invest in long term instruments. Following are the top 10 long term income funds in India:

1. Axis Income Fund

2. DSP BlackRock Strategic Bond Fund

3. HDFC High Interest Fund – Dynamic Plan

4. Axis Dynamic Bond Fund

5. BNP Paribas Flexi Debt Fund

6. ICICI Prudential Dynamic Bond Fund

7. IDFC Dynamic Bond Fund

8. Reliance Dynamic Bond Fund

9. Tata Dynamic Bond Fund

10. Birla Sun Life Income Plus

Top 10 Consistent Performers – Debt Funds

Debt funds are those in which core holdings are investments that provide a fixed income. Debt funds can invest in specialised products, short-term or long-term bonds, floating rate debt or money market instruments. Following are the top 10 consistent performers in the debt funds category:

1. HDFC High Interest Fund – Dynamic Plan

2. IDFC Dynamic Bond Fund

3. BNP Paribas Flexi Debt Fund

4. Reliance Dynamic Bond Fund

5. UTI Bond Fund

6. Birla Sun Life Income Plus

7. HDFC Income Fund

8. ICICI Prudential Income Plan

9. Kotak Bond

10. Tata Income Fund

Top 10 Credit Opportunities Funds

Credit opportunities funds are those that offer high returns by investing in low credit-rated funds. Following are the top 10 credit opportunities funds in India:

1. Birla Sun Life Short Term Opportunities Fund

2. SBI Corporate Bond Fund

3. DSP BlackRock Income Opportunities Fund

4. HDFC Short Term Plan

5. Kotak Income Opportunities Fund

6. UTI Income Opportunities Fund

7. Birla Sun Life Medium Term Plan

8. BOI AXA Corporate Credit Spectrum Fund

9. Franklin India Low Duration Fund

10. ICICI Prudential Corporate Bond Fund

Top 10 Short Term Income Funds

Short Term Income Funds are like fixed deposits that actively invest in short term instruments. Following are the top 10 short term income funds in India:

1. HDFC Medium Term Opportunities Fund

2. ICICI Prudential Banking & PSU Debt Fund

3. L&T Short Term Opportunities Fund

4. Axis Short Term Fund

5. Birla Sun Life Short Term Fund

6. DHFL Pramerica Banking & PSU Debt Fund

7. DSP BlackRock Banking & PSU Debt Fund

8. IDFC Super Saver Income Fund – Short Term

9. Kotak Flexi Debt

10. HSBC Income Fund – Short Term Plan

Top 10 Ultra Short-term Debt Funds

Ultra short-term debt funds are those that invest in instruments that offer a fixed income, and the instruments in which these funds invest are mostly liquid and come with short-term maturity periods. Following are the top 10 ultra short-term debt funds in India:

1. Axis Banking Debt Fund

2. IDFC Banking Debt Fund

3. Religare Invesco Credit Opportunities Fund

4. Sundaram Flexible Fund – Short Term Plan

5. DHFL Pramerica Ultra Short Term Fund

6. DSP BlackRock Ultra Short Term Fund

7. Indiabulls Ultra Short Term Fund

8. JM Money Manager Fund – Super Plus

9. Kotak Treasury Advantage Fund

10. L&T Ultra Short Term Fund

Top 10 Liquid Funds

Liquid funds are basically debt mutual funds through which money is invested in very short-term market instruments like call money, government securities and treasury bills that hold relatively low risk. The maturity period for these instruments usually does not exceed 91 days. Following are the top 10 liquid funds in India.

1. Indiabulls Liquid Fund

2. L&T Liquid Fund

3. Sundaram Money Fund

4. Axis Liquid Fund

5. DSP BlackRock Liquidity Fund

6. HDFC Liquid Fund

7. Religare Invesco Liquid Fund

8. Tata Liquid Fund

9. Union KBC Liquid Fund

10. UTI Liquid Cash Plan