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ICICI Prudential Credit Risk Fund download report

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Debt: Credit Risk

Analysts' Choiceunlock it

1 Lakh

Investment Grown to
₹ 1.05 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.22 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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(₹)
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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
ICICI Pru Credit Risk-G 1.75 0.08 0.20 0.39 0.26 1.75 4.53 7.68 7.29 7.78 8.24
CCIL T Bill Liquidity Weight 0.91 0.05 0.07 0.27 0.34 0.91 1.99 2.70 3.31 3.68 4.25
Debt: Credit Risk 10.08 0.07 0.17 0.28 -0.46 10.08 15.52 5.43 4.05 5.51 7.19
Rank within category 3 7 3 1 1 3 7 3 1 1 1
Number of funds in category 15 15 15 15 15 15 15 15 15 14 4

As on 01-Jul-2022

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
ICICI Prudential Credit Risk Fund  | Invest Now
4 star
 Dec-10 4.53 7.68 7.29 1.54% 8,022
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
 Mar-14 3.40 7.59 6.90 1.58% 8,640
SBI Credit Risk Fund  | Invest Online
4 star
 Jul-04 3.78 6.62 6.22 1.55% 3,035
Axis Credit Risk Fund - Regular Plan
4 star
 Jul-14 3.69 6.51 5.59 1.68% 690
Kotak Credit Risk Fund Regular Plan  | Invest Online
3 star
 May-10 0.93 5.08 5.60 1.71% 1,645

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 1.99 24-Mar-2020 - 31-Mar-2020 -1.72 10-Jul-2013 - 17-Jul-2013
Month 2.69 20-Aug-2013 - 19-Sep-2013 -2.02 15-Jul-2013 - 14-Aug-2013
Quarter 4.36 29-Apr-2020 - 29-Jul-2020 -2.86 20-May-2013 - 19-Aug-2013
Year 12.63 19-Aug-2013 - 19-Aug-2014 3.85 15-Jun-2021 - 15-Jun-2022

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
ICICI Pru Credit Risk-G 7.49 1.68 2.37 3.55 0.50 4.39
CCIL T Bill Liquidity Weight 2.69 0.37 -2.20 -4.41 -- --
Debt: Credit Risk* 6.85 9.53 0.72 0.98 -4.76 -0.66
Rank within category* 3 2 1 1 14 2
Number of funds in category* 15 15 15 15 15 15

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

As on 31-May-2022

* As on 30-Jun-2022

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 96 96 85 30
Modified Duration (yrs) 1.77 1.97 1.57 1.71
Average Maturity (yrs) 2.84 2.84 2.26 2.37
Yield to Maturity (%) 7.99 7.99 6.74 7.14
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
up 6.54% GOI 17/01/2032 GOI Securities SOV 0.00 - 6.51 6.51
equal 10.50% Prestige Estates Projects 2023 Non Convertible Debenture A+ 2.99 - 3.28 3.14
equal 8.75% Nayara Energy 13/08/2024 Non Convertible Debenture AA- 0.00 - 3.03 3.03
equal Aditya Birla Fashion and Retail 2022 Debenture AA 2.55 - 2.72 2.72
equal 6.63% ONGC Petro Additions 2024 Non Convertible Debenture AA 0.00 - 2.57 2.43
equal 8.35% JM Financial Credit Solutions 26/04/2024 Non Convertible Debenture AA 0.00 - 2.23 2.17
equal 7.99% The Great Eastern Shipping Company 18/01/2024 Non Convertible Debenture AA+ 2.10 - 2.33 2.15
equal 8.25% DLF 25/03/2024 Debenture AA- 0.00 - 2.04 2.04
equal 7.30% Torrent Power 2023 Non Convertible Debenture AA+ 0.00 - 1.87 1.87
equal 10.25% RBL Bank 30/06/2022 Debenture AA- 1.79 - 2.00 1.87
equal 7.55% Mahindra Rural Housing Finance 15/09/2023 Debenture AA+ 1.80 - 2.01 1.87
equal 7.90% SIS 30/03/2023 Non Convertible Debenture AA- 1.78 - 1.97 1.85
equal 8.80% Pune Solapur Expressways 31/03/2029 Debenture AA- 1.76 - 2.03 1.80
equal 7.45% Land Kart Builders 13/12/2024 Non Convertible Debenture AA 0.00 - 1.52 1.52
equal 9.65% NUVOCO Vistas Corp. 2077 Floating Rate Debenture AA- 0.00 - 1.50 1.50
equal 10.50% Indusind Bank Additional Tier 1 Bond AA 1.40 - 1.50 1.49
equal Varanasi Sangam Expressway 29/12/2034 Non Convertible Debenture AAA 1.38 - 1.56 1.44
equal 9.15% NUVOCO Vistas Corp. 30/08/2022 Non Convertible Debenture AA 1.21 - 1.36 1.26
equal 9.50% Nirma Debenture AA- 1.20 - 1.31 1.25
new ICICI Securities 2027 Interest Rate Swap -- 0.00 - 1.25 1.25
new IDFC First Bank 24/05/2027 Interest Rate Swap -- 0.00 - 1.25 1.25
new HDFC Bank 27/05/2024 Interest Rate Swap -- 0.00 - 1.25 1.25
new HDFC Bank 24/05/2027 Interest Rate Swap -- 0.00 - 1.25 1.25
new Axis Bank 27/05/2024 Interest Rate Swap -- 0.00 - 1.25 1.25
equal 8.76% TMF Holdings Non Convertible Debenture AA- 0.42 - 0.87 1.24

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 31-May-2022

Fund Manager

— Akhil Kakkar since 05-Jun-2017

Education: Mr. Kakkar is B.Tech (IIT Roorkee) and PGDM (Finance)

Experience: Prior to Joining ICICI Prudential Mutual Fund he has worked with Kotak Mahindra Bank in Debt Capital Markets, SBI Capital Markets in Project Advisory & Structured Finance and Goldman Sachs Services Pvt Ltd as Analyst Developer.

— Manish Banthia since 07-Nov-2016

Education: Mr. Banthia is B.Com, CA and MBA

Experience: He is associated with ICICI Prudential Asset Management Company since Oct 2005, ICICI Prudential AMC - Fixed Income Investments - Aug 2007 to Oct 2009, ICICI Prudential AMC - New Product Development - Oct 2005 to Jul 2007, Aditya Birla Nuvo Ltd. - From May 2005 to Oct 2005, Aditya Birla Management Corporation Ltd. - From May 2004 to May 2005.

Funds Managed:

Invest Now
0.08%

Change from previous, NAV as on 01-Jul-2022

Growth: ₹ 25.2403

IDCW Yearly: ₹ 10.1501

More

IDCW Quarterly: ₹ 10.8428

IDCW Half Yearly: ₹ 10.4315

Investment Strategy

The scheme seeks to generate income through investing predominantly in AA and below rated corporate bonds while maintaining the optimum balance of yield, safety and liquidity.

Investment Details

Min. Investment (₹) 100
Min. Addl Investment (₹) 100
Min. SIP Investment (₹) 100
Min. No of Cheques 6
Min. Withdrawal (₹) 100
Min. Balance (₹) --
Lock-in Period Not Applicable
Exit Load For units in excess of 10% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: ICICI Prudential Mutual Fund
Launch Date: 03-Dec-2010
Return Since Launch: 8.32%
Benchmark: CRISIL Credit Risk Fund CII Index
Riskometer: High
Type: Open-ended
Assets: ₹ 8,022 Cr (As on 31-May-2022)
Expense: 1.54% (As on 31-May-2022)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Quarterly31-Mar-20220.1412

 30-Dec-20210.1181
 30-Sep-20210.1592
 30-Jun-20210.2671
 25-Mar-20210.0567
 30-Dec-20200.2763
 30-Sep-20200.4759
 27-Mar-20200.0272
 30-Dec-20190.2106
 27-Sep-20190.1771
 27-Jun-20190.1431
 28-Mar-20190.1267
 28-Dec-20180.1703
 28-Sep-20180.0965
 28-Jun-20180.0758
 27-Mar-20180.1124
 27-Dec-20170.0629
 28-Sep-20170.1260
 30-Jun-20170.1577
 31-Mar-20170.1226
 29-Dec-20160.1443
 30-Sep-20160.2427
 30-Jun-20160.1677
 29-Mar-20160.0841
 29-Dec-20150.1374
IDCW Half Yearly28-Mar-20220.2624

 27-Sep-20210.4171
 25-Mar-20210.3319
 30-Sep-20200.6807
 26-Mar-20200.2497
 26-Sep-20190.3189
 28-Mar-20190.3267
 26-Sep-20180.1753
 27-Mar-20180.1767
 27-Sep-20170.2980
 31-Mar-20170.2674
 30-Sep-20160.4281
 30-Mar-20160.2307
 28-Sep-20150.2993
 30-Mar-20150.3974
 29-Sep-20140.3935
 27-Mar-20140.4067
 27-Sep-20130.0828
 24-May-20130.1856
 28-Mar-20130.3584
 27-Sep-20120.4169
 29-Mar-20120.3432
 23-Sep-20110.2144
 26-May-20110.1085
 28-Mar-20110.1829
IDCW Yearly21-Mar-20220.6502

 18-Mar-20210.9327
 20-Mar-20200.6955
 20-Mar-20190.4835
 20-Mar-20180.4721
 23-Mar-20170.7281
 18-Mar-20160.5020

Contact Information

AMC: ICICI Prudential Asset Management Company Ltd

Address: One BKC , A Wing , 13th Floor, Bandra Kurla Complex, Mumbai - 400051

Fax: 022-26528100

Website: http://www.icicipruamc.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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