A stable fund

FUND PICK/ Grindlays Floating Rate Fund

Value (Cr)

Net
Assets
(%)

Punjab National Bank164.907.31 ICICI Bank  (term deposit)159.937.09 HDFC  (debentures)159.937.09 ING Vysya Bank154.976.87 UCO Bank140.086.21 Infra. Devp. Fin.(debentures)124.745.53 Allahabad Bank110.084.88 Rabo India Finance105.124.66 J&K Bank104.894.65 HDFC (commercial paper)98.804.38 GE Capital Services74.893.32 ICICI Bank (CP)69.033.06 Union Bank of India60.002.66 IDBI (bonds)50.32.23 Citicorp Finance (CP)

49.63

2.20 Infra. Devp. Fin. (CP)49.182.18 Treasury bills44.661.98 Indian Overseas Bank34.961.55 Citibank N A.30.001.33 ICICI Bank (bonds)25.941.15   Outlook: Considering reasonably good returns from a quality portfolio and low expenses, the fund is a good choice for cautious investors.

- Value Research