SHRIRAM RAMANATHAN
ETMarkets Smart Talk| Higher yields offer opportunities, but investors need not rush into long-duration funds: Shriram Ramanathan
In this edition of ETMarkets Smart Talk, Shriram Ramanathan, CIO–Fixed Income at HSBC Mutual Fund, discusses the changing dynamics in India’s bond market, the outlook for interest rates and yields, and how investors should navigate the choice between debt mutual funds, fixed deposits and government securities. He also explains why liquidity and flexibility could matter more than rushing to lock into longer-duration bets in the current environment.
HSBC Mutual Fund’s RedHex Hybrid Long-Short Fund crosses Rs 1,000 crore AUM with nearly 2000 unique folios
HSBC Mutual Fund's RedHex Hybrid Long-Short Fund has impressively reached a whopping Rs 1,000 crore in assets under management within just two months. This unique investment strategy has drawn in nearly 1,950 individual investor folios, providing an innovative blend of fixed income, equity arbitrage, REITs, and INVITs aimed at optimizing risk-adjusted returns. The fund's rapid growth illustrates an increasing interest in diverse mutual fund options.
Delayed, Not Denied: India’s BGAI entry waits on market access
India’s potential inclusion in the Bloomberg Global Aggregate Bond Index remains delayed, not denied, with operational accessibility the key hurdle. Inclusion could attract $15–25 billion in foreign inflows, diversify India’s bond investor base, ease borrowing pressures, and strengthen its global investment appeal. A phased inclusion remains likely, supporting India’s long-term bond-market integration.
NFO Alert: HSBC Mutual Fund launches hybrid long-short fund under its SIF segment RedHex
HSBC Mutual Fund has launched the RedHex Hybrid Long-Short Fund, a Specialised Investment Fund strategy aimed at generating regular income and capital appreciation through a diversified mix of fixed income, equity arbitrage, REITs and InvITs. The fund targets risk-adjusted returns with lower volatility and offers weekly redemption opportunities.
Why fixed-income investors should shift focus from duration to yield in 2026, says Shriram Ramanathan
Indian bond markets are shifting after a strong rally. Investors should now focus on stable returns from attractive yields and selective credit. Aggressive duration bets are less advisable. Opportunities exist in money markets, State Development Loans, and short-term corporate bonds. Currency stability and global developments will also shape investor interest in 2026.
Wealthy investors turn to Income Plus Arbitrage Fund-of-Funds for tax efficiency and higher returns
Income Plus Arbitrage Fund-of-Funds are gaining traction among wealthy investors and family offices due to their tax-efficient structure. With assets surging to ₹19,919 crore, these funds allocate just under 65% to fixed income and the rest to equity arbitrage. The appeal lies in long-term capital gains being taxed at a favorable 12.5% rate.
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Corporate bonds in 2–3 year segment offer ‘best bang for buck’: Shriram Ramanathan
Investors might consider shifting to shorter-maturity corporate bonds. Shriram Ramanathan from HSBC Mutual Fund suggests focusing on two- to three-year bonds. These bonds offer attractive yields with lower risk. Rate cuts depend on growth and US Federal Reserve actions. Short-duration funds and medium-duration funds are good options. Income-plus-arbitrage funds offer tax efficiency.
Tall ask for policymakers as growth risks persist despite positive rural signals: HSBC MF
Despite RBI's confidence in maintaining a 6.5% GDP growth for FY26 and projecting 6.6% for Q1 FY27, HSBC Mutual Fund's Shriram Ramanathan expresses caution. He acknowledges tailwinds from rural consumption and resilient services but notes concerns about urban discretionary spending and tepid private capex. Ramanathan emphasizes the need for policymakers to balance growth confidence with macro stability amid global uncertainties.
RBI rate cut: Impact on bond market and what it means for bond holders
Lower interest rates generally push bond prices higher as investors lock in better yields from existing bonds. However, Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities, noted that India's 10-year bond yields spiked after the rate cut since the market had already factored in the decision, reflecting anticipated movements in fixed-income securities.
Budget 2025: Agri industry lauds focus on pulses, seeds, tech; some concerns remain
Industry leaders have praised the Union Budget 2025-26 for its agricultural initiatives, especially the focus on technology and seed development, though some sector-specific demands remain unmet. Highlights include a Rs 5 lakh Kisan Credit Card loan limit, emphasis on climate-resilient crops, and support for reducing import dependencies. Effective implementation is crucial for achieving these goals.
G-Sec market to attract $100 billion in five years
India’s government bond market could see inflows worth $100 billion over the next three to five years as operational issues are streamlined, prompting large institutional investors such as sovereign wealth funds and central bank reserve managers to favor debt in the world’s fastest-growing major economy, HSBC Asset Management India said.
L&T Mutual Fund, former officials pay Rs 1.1 crore to settle case with Sebi
Sebi alleged that L&T Investment Management failed to ensure that the transfers of investments from one scheme to another scheme were allowed only if such transfers were done at the prevailing market price for quoted instruments on spot basis and that the securities so transferred should be in conformity with the investment objective of the scheme to which such transfer had been made.
HSBC Mutual Fund to keep L&T MF's entire team
The Indian asset management arm of the British bank has introduced a new management structure where its existing head Ravi Menon and L&T Mutual's Kailash Kulkarni would be the co-chief executive officers, the people said. Kulkarni was CEO of L&T Mutual.
Fund review: L&T India Prudence Fund
The fund, managed by Soumendra Nath Lahiri, Shriram Ramanathan and Karan Desai, invests 65-75% of its portfolio in equities and the rest in debt.
Invest in balanced funds to ride out volatility
“Valuations are high and corporate earnings are taking the time to catch up,” says Vishal Dhawan, chief financial planner, Plan Ahead Wealth Advisors.
Shriram AMC to launch two new schemes in current fiscal
Shriram Asset Management Company is in the process of launching two new schemes - one pure equity and another a hybrid plan with a high debt orientation.
Shriram AMC wants to take the top spot in 5-7 years
Shriram Asset Management Company (AMC) is working on a plan to become the leader of the pack in the mutual fund space in the next 5-7 years.
Shriram Mutual Fund targeting non-salaried investors with ‘Any Day SIP’
Shriram Mutual Fund has introduced Any Day SIP which allows an investor to choose the day of the SIP. Till now, mutual fund investors could choose only specified dates
Investors hungry for higher returns allocating money to credit opportunity funds
Investors hungry for higher returns from debt funds are allocating money to credit opportunity funds.
NBFCs reduce corporate fixed deposit rates by up to 40 bps
In comparison, bank fixed deposit rates are now in the range of 8-8.5% for similar maturities. Abasis point is one-hundredth of a percentage point.
NBFCs reduce corporate deposit rates by five to 40 basis points
In comparison, bank fixed deposit rates are now in the range of 8-8.5% for similar maturities. A basis point is one-hundredth of a percentage point.
TPG Capital to buy Janalakshmi Financial Services Ltd minority stake for Rs 610 crore
“The valuation exercise and the exact stake which will be owned by TPG will be finalised soon,” one of the two persons said.
Microfinance companies Bandhan, Janalakshmi to apply for banking licence
Microfinance cos Bandhan Financial Services and Janalakshmi Financial Services are set to file applications to acquire a banking licence.
Bank aspirants rush for talent, bring big biz for headhunters Egon Zender, Randstad, Vito India
Executives at headhunters are on their toes in a dull hiring market as bank aspirants such as RIL, L&T Finance, Religare rush for talent.
Mohandas Pai, former Citibank executive Ramesh Ramanathan in race for licence to start a bank
Mohandas Pai and Ramesh Ramanathan will be part of the business groups throwing their hats in the ring for a licence to start a bank.
L&T Finance completes acquisition of Fidelity's Indian MF biz
L&T Finance, a part of diversified group Larsen & Toubro, today said it has completed the acquisition of Fidelity's mutual fund business in India for an undisclosed amount.
Fidelity MF unitholders get 30 days to redeem holdings without a fee
Fidelity Mutual Fund will open a 30-day window from October 15 to allow unitholders to redeem their holdings without a fee.
Market will hold around current levels: Ramanathan K, ING Investment Management India
In an interview with ET Now, Ramanathan K, CIO, ING Investment Management India, talks about the market and commodities. Excerpts:
Fidelity MF to come up with more funds in Jan-March qtr
Fidelity MF, whose new fund offer 'Short Term Income Fund' is currently open, today said it will come out with more products in the January-March period.
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