Gilt funds top performance chart

Gilt funds were the best performers across the 22 mutual fund categories for the quarter ended June, according to a CRISIL Mutual Fund Rankings released on Monday. Gilt funds returned 3.1 per cent over the quarter, outperforming both equity and other debt oriented categories. This was mainly on account of the softening of yields on the back of the Reserve Bank of India (RBI) reducing the repo rate by 50 basis points to eight per cent in its annual monetary policy for 2012-13 in April 2012.