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4 star

Kotak Credit Risk Fund Regular Plan

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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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Annual Returns
Quarterly Returns
Monthly Returns
Weekly Returns

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(₹)
cal
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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 3.36 0.05 0.10 1.06 4.36 1.64 7.02 6.71 7.80 8.56 8.29
CCIL T Bill Liquidity Weight 2.23 0.03 0.05 0.20 0.67 1.81 3.70 4.08 4.26 4.78 4.78
Debt: Credit Risk -2.23 0.00 0.05 0.50 3.27 -3.12 -0.92 0.95 3.75 6.20 7.05
Rank within category 11 1 6 6 6 11 8 3 3 2 1
Number of funds in category 19 19 19 19 19 19 19 17 15 6 3

As on 07-Aug-2020

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 7.02 6.71 7.80 1.86 2,004
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
 Dec-10 10.12 7.87 8.30 1.60 6,562
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
4 star
 Mar-14 9.34 7.05 8.22 1.58 6,258
SBI Credit Risk Fund  | Invest Online
4 star
 Jul-04 8.42 6.57 7.78 1.54 3,895
IDFC Credit Risk Fund - Regular Plan
5 star
 Mar-17 7.21 6.38 -- 1.59 829

Best & Worst Performance

Best (Period) Worst (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) 4.56 (30-Apr-2019 - 29-Apr-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.60 2.70 0.51 0.49 -2.11 -1.12
CCIL T Bill Liquidity Weight 4.03 0.29 -4.08 -7.51 -- --
Debt: Credit Risk 1.39 6.73 -0.22 -0.04 -3.33 -7.79
Rank within category 3 4 4 5 8 6
Number of funds in category 18 18 18 18 18 18

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

As on 31-Jul-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 49 91 46 25
Modified Duration (yrs) 2.33 2.33 1.69 --
Average Maturity (yrs) 3.31 3.31 2.20 --
Yield to Maturity (%) 9.94 11.16 8.49 --

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 3.71 - 9.11 9.09
equal 10.99% Union Bank of India 31/08/2050 Bonds A+ 0.00 - 6.97 6.97
equal 10.90% Punjab & Sind Bank 31/12/2099 Bonds A- 0.00 - 6.87 6.87
equal 8.85% Power Finance Corp. 25/05/2029 Bonds/NCDs AAA 0.00 - 6.35 6.35
down 9.25% Power Finance Corp. 25/09/2024 Non Convertible Debenture AAA 2.18 - 5.60 5.60
equal 9.90% Coastal Gujarat Power 27/08/2028 Debenture AA 2.03 - 5.09 5.09
equal 8.70% Future Lifestyle Fashion 2022 Bonds/Debentures A+ 0.00 - 4.91 4.91
equal 9.75% Uttar Pradesh Power Corporation 20/10/2021 Debenture A+ 1.76 - 4.64 4.64
equal 8.55% L&T Infrastructre Finance 29/11/2022 Non Convertible Debenture AAA 0.00 - 4.09 4.09
equal Bahadur Chand Investments 2024 Zero Coupon Bonds AA 0.00 - 3.76 3.76
new 7.25% HDFC 17/06/2030 Debenture AAA 0.00 - 3.29 3.29
equal 9.20% Union Bank of India Bonds/Debentures A+ 0.00 - 3.19 3.19
new 9.05% Reliance Industries 17/10/2028 Debenture AAA 0.00 - 2.85 2.85
equal 9.25% Reliance Jio Infocomm 16/06/2024 Debenture AAA 0.00 - 2.48 2.48
equal 8.25% Vizag General Cargo Berth 30/09/2020 Structured Obligation AA 0.00 - 2.47 2.47
equal 9.75% Uttar Pradesh Power Corporation 20/10/2020 Debenture A+ 1.33 - 2.34 2.34
equal Muthoot Finance 19/04/2023 Bonds/Debentures AA 1.52 - 2.80 2.16
equal 10.15% Uttar Pradesh Power Corporation 20/01/2022 Debenture A+ 0.80 - 2.12 2.12
down 10.25% Shriram Transport Finance 27/12/2024 Non Convertible Debenture AA+ 1.37 - 3.06 1.99
equal 8.30% REC 25/06/2029 Non Convertible Debenture AAA 0.00 - 1.34 1.34
new 8.30% Reliance Industries 2022 Debenture AAA 0.00 - 1.31 1.31
new 6.57% National Bank Agr. Rur. Devp 2027 Debenture AAA 0.00 - 1.26 1.26
equal Aashman Energy Ltd. 16/11/2027 Zero Coupon Bonds AA 0.00 - 0.63 0.63
equal Aarish Solar Power Ltd. 16/11/2027 Zero Coupon Bonds AA 0.00 - 0.63 0.63
equal Divyesh Power Ltd. 16/11/2027 Zero Coupon Bonds AA 0.00 - 0.63 0.63

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-2020

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:

Invest Online
0.05%

Change from previous, NAV as on 07-Aug-2020

Growth: ₹ 22.4477

Dividend Yearly: ₹ 10.3868

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Dividend Weekly: ₹ 10.0113

Dividend Quarterly: ₹ 11.0592

Dividend Monthly: ₹ 10.3676

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
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: 8.21%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 2,004 Cr (As on 30-Jun-2020)
Expense: 1.86% (As on 30-Jun-2020)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Weekly04-Aug-20200.0197

 28-Jul-20200.0088
 14-Jul-20200.0785
 07-Jul-20200.0017
 25-Feb-20200.0100
 18-Feb-20200.0169
 11-Feb-20200.0515
 04-Feb-20200.0180
 28-Jan-20200.0211
 21-Jan-20200.0095
 14-Jan-20200.0095
 07-Jan-20200.0211
 31-Dec-20190.0092
 24-Dec-20190.0072
 03-Dec-20190.0104
 26-Nov-20190.0268
 19-Nov-20190.0203
 13-Nov-20190.0010
 05-Nov-20190.0234
 30-Oct-20190.0201
 23-Oct-20190.0220
 15-Oct-20190.0179
 09-Oct-20190.0154
 01-Oct-20190.0030
 17-Sep-20190.0082
Dividend Monthly13-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
 12-Sep-20180.0030
 13-Aug-20180.0553
 12-Jul-20180.0736
 12-Jun-20180.0084
Dividend Quarterly22-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
 22-Sep-20140.1628
 20-Jun-20140.2523
Dividend Yearly12-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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