SBI Short Term Debt Fund one- and three-year returns are 9.4 per cent and 9.35 per cent, respectively. The three-year returns are 40 basis points ahead of the category returns and 146 basis points ahead of the benchmark returns.
SBI Short Term Debt Fund has a very low-risk approach to portfolio construction. Over the past one year, the fund has relied almost entirely on AAA rated corporate bonds and sovereign debt for its returns. The fund, however, actively juggles between AAA rated bonds and gilt exposures to take advantage of narrowing or widening credit spreads.
While very conservative on credit, it does stretch the duration to three plus years based on rate expectations. In the last one year, the average maturity has swung between two and 3.1 years.
SBI Short Term Debt Fund expense ratio for the regular plan is somewhat high within this selection, at 0.91 per cent. But the direct plan is considerably cheaper, at 0.31 per cent.
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