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Franklin India Credit Risk Fund

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Debt: Credit Risk

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1 Lakh

Investment Grown to
₹ 1.05 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.27 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
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 0.79 0.15 0.23 1.68 5.77 7.31 5.14 4.15 5.85 7.14 --
CCIL T Bill Liquidity Weight 0.05 0.02 0.02 0.13 0.50 1.08 2.99 3.79 4.02 4.44 --
Debt: Credit Risk 0.18 0.04 -0.04 0.44 1.77 4.15 0.46 1.30 3.79 6.01 --

As on 20-Jan-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Franklin India Credit Risk Fund  | Invest Online Now
Unrated
 Dec-11 5.14 4.15 5.85 0.64 3,638
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
 Dec-10 9.46 8.58 8.39 1.65 6,735
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
 Mar-14 10.65 8.27 8.47 1.57 6,601
SBI Credit Risk Fund  | Invest Online
4 star
 Jul-04 9.18 7.34 7.86 1.56 3,671
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
 May-10 6.21 7.18 7.70 1.73 1,845

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.63 (24-Mar-2020 - 31-Mar-2020) -4.86 (09-Jan-2020 - 16-Jan-2020)
Month 2.79 (20-Aug-2013 - 19-Sep-2013) -6.13 (20-Feb-2020 - 23-Mar-2020)
Quarter 6.33 (24-Sep-2020 - 24-Dec-2020) -8.46 (24-Dec-2019 - 24-Mar-2020)
Year 13.71 (19-Aug-2013 - 19-Aug-2014) -7.35 (08-Aug-2019 - 07-Aug-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 4.07 4.92 -0.14 -0.14 -3.31 -3.96
CCIL T Bill Liquidity Weight 3.78 0.34 -2.89 -5.80 -- --
Debt: Credit Risk 1.66 6.60 0.06 0.23 -3.35 -6.40

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

As on 31-Dec-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 51 90 51 27
Modified Duration (yrs) 1.58 2.20 1.58 1.57
Average Maturity (yrs) 2.45 3.35 2.45 1.97
Yield to Maturity (%) 8.98 26.64 8.98 7.39
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 10.25% Shriram Transport Finance 26/04/2024 Debenture AA+ 6.78 - 10.79 10.63
equal 11.90% Rishanth Wholesale Trading 20/10/2023 Debenture A+ 0.00 - 6.77 6.22
equal 10.32% Andhra Pradesh Capital Region Development Authority 16/08/2026 Debenture A+ 3.53 - 6.06 5.62
equal 9.50% Piramal Capital & Housing Finance 15/04/2022 Debenture AA 2.89 - 4.93 4.68
equal 9.90% Coastal Gujarat Power 27/08/2028 Debenture AA 2.15 - 3.65 3.56
equal 10.21% Five-Star Business Finance 28/03/2023 Debenture A 1.13 - 1.92 3.54
equal 10.32% Andhra Pradesh Capital Region Development Authority 16/08/2027 Debenture A+ 1.93 - 3.32 3.09
equal 9.90% Shriram Transport Finance 21/06/2024 Debenture AA+ 1.68 - 2.71 2.67
equal 9.20% Hinduja Leyland Finance 13/09/2024 Debenture AA- 1.38 - 2.35 2.16
equal Renew Wind Energy Delhi 30/09/2030 Structured Obligation A+ 1.43 - 2.34 2.03
equal Sadbhav Infrastructure Project 23/04/2023 Debenture BBB+ 0.00 - 1.89 1.85
equal 10.50% Vistaar Financial Services 22/06/2023 Debenture A- 1.15 - 1.95 1.80
equal 10.50% Vistaar Financial Services 23/07/2024 Debenture A- 1.14 - 1.93 1.79
equal 10.15% Uttar Pradesh Power Corporation 20/01/2027 Debenture A+ 1.10 - 1.84 1.78
equal 10.15% Uttar Pradesh Power Corporation 20/01/2023 Debenture A+ 1.08 - 1.78 1.67
equal 9.75% Uttar Pradesh Power Corporation 20/10/2022 Debenture A+ 0.97 - 1.61 1.51
equal Edelweiss Rural & Corporate Services 29/11/2021 Debenture AA- 0.98 - 1.65 1.49
equal 9.95% Molagavalli Renewable 31/03/2023 Debenture A+ 0.96 - 1.58 1.44
equal 9.40% Hinduja Leyland Finance 28/08/2024 Debenture AA- 0.90 - 1.53 1.41
equal Aptus Value Housing Finance India 20/06/2025 Debenture A+ 0.87 - 1.49 1.36
equal 8.70% Edelweiss Rural & Corporate Services 30/06/2027 Debenture A+ 0.00 - 1.62 1.29
equal 10.25% lnCred Financial Services 26/04/2021 Debenture A 0.79 - 1.35 1.24
equal India Shelter Finance Corporation 2025 Debenture A 1.20 - 1.54 1.22
equal 10.15% Uttar Pradesh Power Corporation 20/01/2028 Debenture A+ 0.59 - 0.99 0.97
equal 10.15% Uttar Pradesh Power Corporation 20/01/2022 Debenture A+ 0.63 - 1.04 0.97

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-Dec-2020

Fund Manager

— Kunal Agrawal since 25-Oct-2018

Education: Mr. Agrawal is a B.Tech from IIT Delhi and PGDM from IIM C.

Experience: Prior to joining Franklin India AMC he has worked with Credits- Portfolio Management, CRISIL Ltd., IBM Ltd. & Infosys Ltd.

Funds Managed:

— Santosh Kamath since 15-Apr-2014

Education: Mr. Kamath is a B.E ( Electronics ) from REC Bhopal and PGDM (Management) from XLRI Jamshedpur.

Experience: Prior to joining Franklin Templeton Investments he has worked with ING Vysya AMC, Zurich Asset Management, SBI Mutual, CRISIL and Jardine Fleming Asset Management.

Interviews:

Funds Managed:

0.15%

Change from previous, NAV as on 20-Jan-2021

Growth: ₹ 20.0615

Dividend: ₹ 10.7580

Investment Strategy

The Scheme seeks to provide regular income and capital appreciation through a focus on corporate securities.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1,000
Exit Load For units in excess of 10% of the investment,3% will be charged for redemption within 365 days
For units in excess of 10% of the investment,2% will be charged for redemption between 366 - 730 days
For units in excess of 10% of the investment,1% will be charged for redemption between 731 - 1095 days

Basic Details

Fund House: Franklin Templeton Mutual Fund
Launch Date: 07-Dec-2011
Return Since Launch: 7.92%
Benchmark: NIFTY Credit Risk Bond TRI
Riskometer: Very High
Type: Open-ended
Assets: ₹ 3,638 Cr (As on 31-Dec-2020)
Expense: 0.64% (As on 30-Nov-2020)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend20-Dec-20190.1585

 20-Sep-20190.1585
 21-Jun-20190.1585
 22-Mar-20190.1585
 21-Dec-20180.1585
 21-Sep-20180.1585
 15-Jun-20180.1585
 16-Mar-20180.1589
 15-Dec-20170.1589
 15-Sep-20170.1589
 16-Jun-20170.1589
 17-Mar-20170.1589
 16-Dec-20160.1589
 16-Sep-20160.1589
 17-Jun-20160.1589
 28-Mar-20160.1625
 18-Dec-20150.1625
 18-Sep-20150.1625
 19-Jun-20150.1625
 20-Mar-20150.1633
 19-Dec-20140.1633
 19-Sep-20140.1714
 20-Jun-20140.1753
 21-Mar-20140.2338
 27-Dec-20130.2727

Contact Information

AMC: Franklin Templeton Asset Management India Private Ltd

Address: Indiabulls Finance Center, Tower 2, 12th and 13th Floor, Senapati Bapat Marg, Elphinstone Road (West) Mumbai - 400013

Phone: 1800-425-4255 / 60004255

Email: [email protected]

Website: http://www.franklintempletonindia.com

Registrar & Transfer Agent: Franklin Templeton Asset Management (India) Pvt. Ltd.

Address: Unit 301, III Floor, Campus 4B, RMZ Millenia Business Park, 143 Dr. MGR Road, Kandanchavadi Chennai - 600096

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