The Franklin fiasco may have put Indian debt funds in bad light, but a top fixed income specialist on Dalal Street says every portfolio does need these instruments to provide the much-needed ‘shade’. “If your overall portfolio is a tree, debt funds are there to do the job of providing shade while equity funds bring the fruits and flowers. Fruits and flowers are seasonal products. You need that shade to stay intact as you wait for the fruits and flowers to bloom,” said Saurabh Bhatia, Head of Fixed Income at DSP Mutual Fund.
Irdai directs cos to meet social sector obligations
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