Notes:

1. Data sourced from Google Finance. We do not take any responsibility of its accuracy.

2. We are not biased towards HDFC and are neither promoting them. One is free to choose an AMC of their liking. We chose HDFC because they are generally in the top 5 ranked based on AUM in every debt segment. So the testing is easier and we get safety in herd.

3. We assume that the performance of other AMCs in each debt segment, and the average performance of the entire debt segment will be similar. Though we have not tested this.

4. Data is from inception of the fund to 1st week of October, 2021.

5. Winning probability criterion is 7% CAGR in the respective period. Winning probability = no. Of winning periods/total periods. For ex., 1 yr rolling periods, we calculate the 1 yr rolling returns for each days since inception. Ex. T0 is inception day so 1st 1 yr rolling period is T0 to T365. Next is T1 to T366 and so on till present day. Then you count the number of periods above which meet your winning ceiterion, in this case 7%, and divide it by the total number of such periods.

6. Debt segments that are excluded are FMP, long duration and constant duration GILTs.

7. If you wish to do similar analysis for any stock, index or mutual that has its data on Google Finance, you can use this tool I have created: https://docs.google.com/spreadsheets/d/17fLhGV_lBmRbdiNlf2SAvg0Q7JrBiK_OamFlVYhnuWY/edit#gid=744304526

8. Happy Investing.

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Disclaimer:

1. This model and information is being freely shared for the benefit of all. No capital, fee, commission etc. is being solicited.

2. Do not construe this as investing recommendation or advice.

3. This study was not sponsored by anyone.