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4 star

Kotak Credit Risk Fund Regular Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.07 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.24 Lakh

Suitability:

Credit risk funds invest mainly in bonds which are rated AA or below by credit rating agencies. The lower rating indicates a higher possibility of these bonds defaulting on repayment of investors' money. Therefore, these funds are the riskiest among debt fund categories. But they compensate for this additional risk with a higher return potential as these bonds offer better rates of interest than the highest rated bonds.

However, retail investors can avoid these funds altogether. There are far too many kinds of debt funds with a highly nuanced classification based on the type or duration of bonds they can invest in. We believe that so many fund categories add to complexity which is easily avoidable. Retail investors can simply invest in Liquid funds for an investment horizon of up to one year and Short Duration funds for the fixed income allocation (which should be 100 per cent for an investment horizon of up to three years) in their longer-term portfolios.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 3 years from the date of investment, gains are taxed at the rate of 20% after providing the benefit of inflation indexation.
  • If the mutual fund units are sold within 3 years from the date of investment, entire amount of gain is added to the investors' income and taxed according to the applicable slab rate.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends are added to the income of the investors and taxed according to their respective tax slabs. Further, if an investor's dividend income exceeds Rs. 5,000 in a financial year, the fund house also deducts a TDS of 10% before distributing the dividend.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 3.13 0.10 0.11 0.36 1.38 2.85 6.64 7.19 7.21 7.94 8.29
CCIL T Bill Liquidity Weight 1.13 -0.01 0.04 0.19 0.55 1.05 2.12 3.49 3.73 4.17 4.59
Debt: Credit Risk 4.18 0.03 0.04 0.93 1.96 3.87 8.49 1.68 3.53 6.31 7.64
Rank within category 10 1 3 15 9 9 11 4 4 4 2
Number of funds in category 16 16 16 16 16 16 16 16 15 10 4

As on 27-Jul-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 6.64 7.19 7.21 1.72 1,785
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 9.60 9.04 8.14 1.61 7,784
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 7.87 8.70 8.20 1.56 7,626
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 7.15 7.43 7.29 1.54 3,473
Axis Credit Risk Fund - Regular Plan
4 star
Jul-14 7.64 6.47 6.55 1.67 693

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 2.59 24-Mar-2020 - 31-Mar-2020 -2.15 22-Apr-2020 - 29-Apr-2020
Month 3.00 10-Jun-2020 - 10-Jul-2020 -3.57 25-Feb-2020 - 26-Mar-2020
Quarter 5.00 29-Apr-2020 - 29-Jul-2020 -3.07 20-May-2013 - 19-Aug-2013
Year 12.68 19-Aug-2013 - 19-Aug-2014 4.28 24-Feb-2020 - 23-Feb-2021

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 7.11 2.66 1.09 0.99 -1.28 1.94
CCIL T Bill Liquidity Weight 3.46 0.39 -1.92 -4.74 -- --
Debt: Credit Risk 1.94 6.69 0.33 0.46 -3.85 -5.15
Rank within category 4 5 5 5 10 5
Number of funds in category 16 16 16 16 16 16

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 30-Jun-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 47 52 45 29
Modified Duration (yrs) 2.35 2.39 1.28 1.77
Average Maturity (yrs) 3.67 3.67 1.78 2.18
Yield to Maturity (%) 6.48 9.41 6.33 6.13
Avg Credit Rating AA -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 9.23% Talwandi Sabo Power 30/07/2021 Debenture AA 9.56 - 10.88 10.87
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.00 - 9.59 9.59
equal 10.90% Punjab & Sind Bank Additional Tier 1 Bond A- 6.38 - 7.21 6.47
equal 9.90% Coastal Gujarat Power 27/08/2028 Debenture AA 5.16 - 6.33 6.28
equal 5.70% Bajaj Housing Finance 2024 Debenture AAA 0.00 - 5.59 5.59
equal Bahadur Chand Investments 2024 Zero Coupon Bonds AA 3.87 - 4.21 4.21
equal 9.25% Power Finance Corporation 25/09/2024 Additional Tier 2 Bond AAA 3.54 - 5.35 3.79
equal 9.20% Union Bank of India Additional Tier 1 Bond AA- 0.00 - 3.72 3.72
new GOI 22/09/2033 GOI Securities Floating Rate Bond SOV 0.00 - 3.27 3.27
equal 7.50% HDFC 2025 Debenture AAA 0.00 - 2.96 2.94
equal 7.20% Karnataka State 25/01/2027 State Development Loan SOV 0.00 - 2.90 2.90
equal 8.35% Tata Projects 17/12/2021 Zero Coupon Bonds AA 0.00 - 2.85 2.85
equal 7.50% Godrej Properties 31/07/2023 Zero Coupon Bonds AA 2.56 - 2.84 2.84
equal 7.25% NUVOCO Vistas Corp. 25/09/2023 Debenture AA 0.00 - 2.84 2.83
equal 6.12% Karnataka State 22/07/2027 State Development Loan SOV 2.56 - 2.75 2.74
equal Muthoot Finance 19/04/2023 Bonds/Debentures AA+ 0.00 - 2.23 2.23
equal 10.15% Uttar Pradesh Power Corporation 20/01/2022 Debenture A+ 1.82 - 2.41 1.82
equal 8.55% L&T Infrastructre Finance 29/11/2022 Non Convertible Debenture AAA 1.75 - 4.66 1.75
equal 6.57% Gujarat State 2029 State Development Loan SOV 1.55 - 1.67 1.67
equal 9.75% Uttar Pradesh Power Corporation 20/10/2021 Debenture A+ 1.52 - 4.91 1.52
equal 6.87% National Bank Agr. Rur. Devp 2030 Bonds/NCDs AAA 1.33 - 1.41 1.41
down 5.53% National Bank Agr. Rur. Devp 22/02/2024 Non Convertible Debenture AAA 0.00 - 4.24 1.41
equal 8.85% Power Finance Corporation 25/05/2029 Bonds/NCDs AAA 1.15 - 2.59 1.25
new HDFC 29/11/2028 Debenture AAA 0.00 - 1.25 1.25
equal 8.35% Manappuram Finance 18/02/2022 Non Convertible Debenture AA 0.00 - 1.14 1.14

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 30-Jun-2021

Fund Manager

— Deepak Agrawal since 12-Apr-2010

Education: Mr. Agrawal is Post Graduate in Commerce from Mumbai University, Chartered Accountant, Company Secretary and CFA.

Experience: He has been associated with Kotak AMC since 2000.

Funds Managed:


0.10%

Change from previous, NAV as on 27-Jul-2021

Growth: ₹ 23.8790

IDCW Yearly: ₹ 10.3847

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IDCW Weekly: ₹ 10.0888

IDCW Quarterly: ₹ 11.4284

IDCW Monthly: ₹ 10.7991


Investment Strategy

The scheme seeks to generate income by investing in debt /and money market securities across the yield curve and predominantly in AA rated and below corporate securities.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1,000
Lock-in Period Not Applicable
Exit Load For units in excess of 6% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: Kotak Mahindra Mutual Fund
Launch Date: 11-May-2010
Return Since Launch: 8.07%
Benchmark: NIFTY Credit Risk Bond TRI
Riskometer: High
Type: Open-ended
Assets: ₹ 1,785 Cr (As on 30-Jun-2021)
Expense: 1.72% (As on 30-Jun-2021)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Weekly27-Jul-20210.0028

 20-Jul-20210.0190
 13-Jul-20210.0006
 06-Jul-20210.0022
 22-Jun-20210.0055
 15-Jun-20210.0239
 08-Jun-20210.0169
 01-Jun-20210.0145
 25-May-20210.0176
 18-May-20210.0050
 11-May-20210.0103
 04-May-20210.0139
 27-Apr-20210.0579
 20-Apr-20210.0093
 15-Apr-20210.0257
 06-Apr-20210.0149
 12-Jan-20210.0139
 05-Jan-20210.0183
 29-Dec-20200.0195
 22-Dec-20200.0183
 15-Dec-20200.0071
 08-Dec-20200.0118
 02-Dec-20200.0174
 24-Nov-20200.0071
 13-Oct-20200.0627
IDCW Quarterly21-Jun-20210.1018

 21-Sep-20200.2223
 22-Jun-20200.1109
 20-Mar-20200.0446
 20-Dec-20190.1698
 20-Sep-20190.1810
 20-Jun-20190.1385
 20-Mar-20190.1296
 20-Dec-20180.1412
 21-Sep-20180.1119
 20-Jun-20180.0428
 20-Mar-20180.0938
 20-Dec-20170.0774
 20-Sep-20170.1219
 20-Jun-20170.1905
 20-Mar-20170.0770
 20-Dec-20160.1880
 20-Sep-20160.2606
 20-Jun-20160.1543
 21-Mar-20160.1289
 21-Dec-20150.0486
 21-Sep-20150.1353
 22-Jun-20150.1391
 20-Mar-20150.1417
 22-Dec-20140.2253
IDCW Monthly12-Mar-20210.0217

 12-Oct-20200.0664
 14-Sep-20200.0842
 12-Aug-20200.0462
 13-Jul-20200.0543
 13-Apr-20200.0178
 12-Mar-20200.0059
 12-Feb-20200.1068
 13-Jan-20200.0709
 12-Dec-20190.0315
 13-Nov-20190.0741
 15-Oct-20190.0463
 14-Oct-20190.0463
 12-Sep-20190.0624
 13-Aug-20190.0627
 12-Jul-20190.0656
 12-Jun-20190.0681
 13-May-20190.0270
 12-Apr-20190.0530
 12-Mar-20190.0409
 12-Feb-20190.0304
 14-Jan-20190.0757
 12-Dec-20180.0676
 12-Nov-20180.0418
 12-Oct-20180.0298
IDCW Yearly12-Mar-20210.6454

 12-Mar-20200.7027
 12-Mar-20190.4539
 12-Mar-20180.4581
 15-Mar-20170.7411
 14-Mar-20160.6162
 20-Mar-20150.7911
 20-Mar-20140.5735
 20-Mar-20130.8632
 20-Mar-20120.8300
 14-Mar-20110.2878

Contact Information

AMC: Kotak Mahindra Asset Management Company Ltd

Address: 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E) Mumbai - 400051

Phone: 022-61152100 / 1800-22-2626

Fax: 022-66384455

Email: [email protected]

Website: http://www.kotakmutual.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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