Volatility in the markets and concerns surrounding payment defaults at the IL&FS group left debt mutual fund investors worrying about their money.
This not only impacted the performance and portfolio of debt funds—generally considered safer than equity schemes—but also their rankings. As of September, Crisil ranked 462 funds based on factors such as performance, duration, exposure to sensitive sectors, concentration of individual issuer and asset quality, among others. Of the total funds ranked, 200 are equity, 214 are debt and 48 are hybrid. Among debt funds, L&T Mutual Fund topped the CRISIL Mutual Fund Ranking. Axis Mutual Fund was ranked second.