Gold ETF witnessed positive return across all time horizon
Domestic equity market declined amid weakness in the global equity markets, concerns over higher U.S. Treasury yields and escalating geopolitical tensions in the Middle East. However market players were able to curtail their losses by purchasing excellent equities that had been marked down to lower prices. The markets received additional support from favorable macroeconomic data released domestically.
Bond yields increased during the month as investors were surprised by RBI's announcement of conducting open market sale of bonds through auctions. Meanwhile, during its fourth bi-monthly monetary policy review of FY24, the Monetary Policy Committee (MPC) maintained the key policy repo rate at 6.50% for the fourth consecutive time. U.S. Treasury yields climbed in tandem with investor confidence that the Federal Reserve of the United States would sustain high interest rates for a prolonged period of time. However, losses were constrained due to the worldwide decline in crude oil prices and the strong demand seen during one of the weekly auctions of government debt.
Following are the trends spotted in the Equity Mutual Fund category in this month:
From a 6-month to a 10-year period, all fund types in the debt category saw positive returns. From one month to three years, the Credit Risk Fund offered the highest return. The Long Duration Fund generated the highest return for a week.
For a time frame ranging from six months to ten years, all fund types in the hybrid and solution-oriented market had positive returns.
Within the Other scheme segment, the Gold ETF saw positive returns for the whole-time frame.
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