Best Floating Rate Funds

Best Floating Rate Funds

The table below shows the Best Floating Rate Funds based on AUM, NAV, and minimum SIP. 

NameAUMMinimum Lump SumNAV
HDFC Floating Rate Debt Fund14,765.0610046.12
Aditya Birla SL Floating Rate Fund11,705.151,000.00325.15
ICICI Pru Floating Interest Fund9,927.07500419.68
Nippon India Floating Rate Fund7,942.805,000.0042.88
Kotak Floating Rate Fund3,904.861001,393.67
UTI Floater Fund1,488.675001,431.35
SBI Floating Rate Debt Fund1,118.985,000.0012.18
DSP Floater Fund878.7810012
Franklin India Floating Rate Fund308.721,000.0040
Axis Floater Fund300.575,000.001,172.00

Floating Rate Funds

The table below shows Floating Rate Funds based on lowest to highest expense ratio. 

NameExpense Ratio
DSP Floater Fund0.2
Axis Floater Fund0.2
Kotak Floating Rate Fund0.22
Aditya Birla SL Floating Rate Fund0.23
Franklin India Floating Rate Fund0.23
Baroda BNP Paribas Floater Fund0.24
HDFC Floating Rate Debt Fund0.26
SBI Floating Rate Debt Fund0.27
Tata Floating Rate Fund0.3
Nippon India Floating Rate Fund0.31

Best Floating Rate Mutual Funds

The table below shows the Best Floating Rate Mutual Funds based on Highest 3Y CAGR.

NameCAGR 3Y
ICICI Pru Floating Interest Fund6.76
HDFC Floating Rate Debt Fund6.29
Franklin India Floating Rate Fund6.28
Kotak Floating Rate Fund6.17
Aditya Birla SL Floating Rate Fund6.15
SBI Floating Rate Debt Fund6.01
DSP Floater Fund5.87
Nippon India Floating Rate Fund5.86
UTI Floater Fund5.66
Bandhan Floating Rate Fund5.5

Best Floater Mutual Funds

The table below shows Best Floater Mutual Funds based on exit load i.e., the fee that the AMC charges investors when exiting or redeeming their fund units.

NameExit LoadAMC
Kotak Floating Rate Fund0Kotak Mahindra Asset Management Company Limited
UTI Floater Fund0UTI Asset Management Company Private Limited
Nippon India Floating Rate Fund0Nippon Life India Asset Management Limited
ICICI Pru Floating Interest Fund0ICICI Prudential Asset Management Company Limited
Aditya Birla SL Floating Rate Fund0Aditya Birla Sun Life AMC Limited
HDFC Floating Rate Debt Fund0HDFC Asset Management Company Limited
Franklin India Floating Rate Fund0Franklin Templeton Asset Management (India) Private Limited
Bandhan Floating Rate Fund0Bandhan AMC Limited
DSP Floater Fund0DSP Investment Managers Private Limited
Tata Floating Rate Fund0Tata Asset Management Private Limited

Top Floating Mutual Funds

The table below shows Floating Mutual Funds based on Absolute 1 Year Return and AMC. 

NameAbsolute Returns – 1YAMC
ICICI Pru Floating Interest Fund8.89ICICI Prudential Asset Management Company Limited
Franklin India Floating Rate Fund8.48Franklin Templeton Asset Management (India) Private Limited
DSP Floater Fund8.35DSP Investment Managers Private Limited
HDFC Floating Rate Debt Fund8.21HDFC Asset Management Company Limited
SBI Floating Rate Debt Fund8.18SBI Funds Management Limited
Aditya Birla SL Floating Rate Fund7.82Aditya Birla Sun Life AMC Limited
Kotak Floating Rate Fund7.82Kotak Mahindra Asset Management Company Limited
Nippon India Floating Rate Fund7.56Nippon Life India Asset Management Limited
UTI Floater Fund7.43UTI Asset Management Company Private Limited
Tata Floating Rate Fund7.36Tata Asset Management Private Limited

Best Floating Rate Funds – FAQs  

1. What are the Best Floating Rate Funds?

Best Money Market Funds  #1: HDFC Floating Rate Debt Fund

Best Money Market Funds  #2: Aditya Birla SL Floating Rate Fund

Best Money Market Funds  #3: ICICI Pru Floating Interest Fund

Best Money Market Funds  #4: Nippon India Floating Rate Fund

Best Money Market Funds  #5: Kotak Floating Rate Fund

These funds are listed based on the Highest AUM.

2. Are floating rate funds a good investment?

Floating-rate bonds are favorable investments, especially in rising interest rate scenarios. Their returns, while unpredictable, often outperform many other instruments.

3. When should I invest in floating rate funds?

Floating-rate funds become attractive to investors during rising interest rates because these funds yield higher interest or coupon payments in response to the increased rates. 

4. Are floating rate bonds risky?

Floating-rate bonds carry interest rate risk, although typically lower than fixed-rate bonds.

5. Who should invest in a floater fund?

Floater funds are ideal for risk-averse investors, providing security for the principal amount. Compared to equities, they offer lower risk, making them a preferred choice for individuals with a conservative risk tolerance.

Introduction to Best Floating Rate Funds

Best Floating Rate Funds – AUM, NAV

HDFC Floating Rate Debt Fund

The HDFC Floating Rate Debt Fund-Growth is a floating-rate mutual fund scheme offered by HDFC Mutual Fund. With a 16-year history, this fund currently manages assets worth ₹15992 crores.

Aditya Birla SL Floating Rate Fund

The Aditya Birla Sun Life Floating Rate Direct Fund-Growth, provided by Aditya Birla Sun Life Mutual Fund, has a track record of 10 years and 9 months. Currently, it manages assets worth ₹13031 crores.

ICICI Pru Floating Interest Fund

The ICICI Prudential Floating Interest Fund Direct Plan-Growth, offered by ICICI Prudential Mutual Fund, has been operational for 10 years and 9 months. Currently, it manages assets worth ₹12575 crores.

Floating Rate Funds – Expense Ratio

Kotak Floating Rate Fund

The Kotak Floating Rate Fund Direct-Growth, managed by Kotak Mahindra Mutual Fund, has been active for 4 years and 5 months. It comes with an expense ratio of 0.22.

DSP Floater Fund

The DSP Floater Fund Direct-Growth, offered by DSP Mutual Fund, has a tenure of 2 years and 7 months. It has an expense ratio of 0.21.

Axis Floater Fund

The Axis Floater Fund Direct-Growth, offered by Axis Mutual Fund, has been operational for 2 years and 3 months. It has an expense ratio of 0.21.

Best Floating Rate Mutual Funds – CAGR 3Y

Franklin India Floating Rate Fund

The Franklin India Floating Rate Fund Direct-Growth, managed by Franklin Templeton Mutual Fund, has a history of 10 years and 9 months. It has achieved a Compound Annual Growth Rate (CAGR) of 5.57% over the past 3 years.

Nippon India Floating Rate Fund

The Nippon India Floating Rate Fund Direct-Growth, offered by Nippon India Mutual Fund, has a tenure of 10 years and 9 months. It has achieved a Compound Annual Growth Rate (CAGR) of 5.32% over the past 3 years.

UTI Floater Fund

The UTI Floater Fund Direct-Growth, managed by UTI Mutual Fund, has a tenure of 5 years. It has achieved a Compound Annual Growth Rate (CAGR) of 5.02% over the past 3 years.

Best Floater Mutual Funds – Exit Load 

Bandhan Floating Rate Fund

The Bandhan Floating Rate Fund Direct-Growth, offered by Bandhan Mutual Fund, has been active for 2 years and 8 months. Notably, it has an expense ratio of 0, indicating that investors do not incur any additional charges for managing their investments in this fund.

Top Floating Mutual Funds – Absolute Returns – 1Y

SBI Floating Rate Debt Fund

The SBI Floating Rate Debt Fund Direct-Growth, managed by SBI Mutual Fund, has been operational for 3 years. It has delivered an absolute return of 7.94% over the past year.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change over time.

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