India’s central bank earlier this month lowered its economic growth forecast and announced a raft of new measures to support businesses, as new strains of the virus threaten recoveries in emerging and developed nations. Fixed income managers in India have favored safer credits this quarter, with the extra spread that investors demand to hold BBB rated notes over top-rated peers near a 2005-high recorded in April.
Dalal’s Edelweiss Banking and PSU Debt Fund is the best performer among India’s mutual funds focused on such securities over the past year, returning 7.65% on its regular investment plan, according to data from the Association of Mutual Funds in India.
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