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Amidst prevailing moderate El Nino conditions over the equatorial Pacific region, the India Meteorological Department (IMD) has predicted an above-normal rainfall season across the country during the southwest monsoon. El Nino and La Nina are climate patterns in the Pacific Ocean that can affect weather worldwide. According to IMD’s forecast, the seasonal June to September rainfall is expected to be above normal, with quantitative estimates indicating it could reach 106 per cent of the Long Period Average (LPA). The LPA for the period 1971-2020 stands at 87 cm.
Presently, neutral Indian Ocean Dipole (IOD) conditions prevail over the Indian Ocean. Nonetheless, IMD’s latest climate model forecasts hint at the likelihood of positive IOD conditions emerging during the later part of the southwest monsoon season, adding another dimension to the monsoon dynamics. IMD said that the northern hemisphere snow cover extent during the last three months (January to March 2024) has been below normal. Such deviations from the norm in snow cover extent could influence weather patterns, including the forthcoming monsoon season.
The forecast of above-normal rainfall raises prospects for agricultural productivity and water reserves across the country. However, it also underscores the importance of preparedness measures to mitigate potential risks associated with flooding and landslides, particularly in vulnerable regions. IMD emphasizes the need for stakeholders to closely monitor evolving climate patterns and undertake proactive measures to ensure the safety and well-being of communities, as well as to optimize agricultural planning and water resource management strategies.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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