Why does the NAV of debt funds like Birla Sunlife Dynamic Bond Fund & SBI Dynamic Bond Fund (both Growth Option) come down on a few days?
Since the equity component is zero, the daily NAV should keep increasing owing to accruing of interest. But I have observed that on certain days it actually goes down?
Does anyone know the reason behind this.
For eg, Yesterday (18/06/12) the NAV of SBI Dynamic Bond Fund had actually gone down!!!
Thanks
Ramprakash