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Nippon India Credit Risk Fund - Direct Plan


1 Lakh

Investment Grown to
₹ 1.03 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.21 Lakh

Analyst's Choice?

Suitability:

Credit risk funds invest mainly in corporate bonds which are below the highest rating assigned 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 of all types of debt funds. However, they compensate for this additional risk with a higher return potential as these bonds offer better rates of interest than highest rated bonds. Moreover, investors can also benefit if the rating of these bonds is subsequently upgraded.

But like most other debt fund categories, we believe that retail investors can avoid this one as well. In our opinion, debt funds make sense for retail investors only if they are investing for 3 years or less. For that kind of investment horizon, Liquid Debt funds and Short Term debt funds are much more suitable.

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 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 paid by the mutual fund scheme are taxed at the rate of 25% (effectively 29.12%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT). Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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(₹)
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Trailing Returns (%)

YTD 1 Month 3 Months 1 Years 3 Years 5 Years 10 Years
Fund 2.06 -0.33 0.12 2.76 5.72 7.56 --
CCIL T Bill Liquidity Weight 4.21 0.30 0.89 4.41 4.19 4.52 --
Debt: Credit Risk 0.75 0.16 1.09 1.10 4.57 7.68 --
Rank within category 14 19 15 13 10 8 --
Number of funds in category 20 20 20 20 17 13 0

As on 13-Dec-2019

Best & Worst Performance

Best (Period) Worst (Period)
Month 2.15 (20-Aug-2013 - 19-Sep-2013) -2.54 (05-Apr-2019 - 07-May-2019)
Quarter 3.82 (28-Aug-2013 - 27-Nov-2013) -2.14 (02-Apr-2019 - 02-Jul-2019)
Year 12.74 (31-Jan-2014 - 02-Feb-2015) 3.67 (29-Aug-2018 - 29-Aug-2019)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.48 2.33 -0.13 -0.12 4.60 7.38
CCIL T Bill Liquidity Weight 4.11 0.25 -6.57 -10.84 -- --
Debt: Credit Risk 4.52 4.22 0.10 0.32 2.93 3.65
Rank within category 10 7 11 11 18 3
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 30-Nov-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 69 107 69 54
Modified Duration (yrs) 1.62 1.75 1.47 1.63
Average Maturity (yrs) 2.23 2.43 1.96 1.96
Yield to Maturity (%) 13.98 13.98 10.82 9.67

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal RMZ Buildcon 14/06/2031 Non Convertible Debenture BBB+ 7.61 - 12.53 12.53
equal Yes Bank Bonds/NCDs BBB+ 0.00 - 8.87 8.56
down 14.50% Mariposa Agri Ventures And Hospitalities 17/09/2021 Non Convertible Debenture Unrated 0.62 - 6.25 7.20
equal Adani Rail Infra 27/04/2020 Zero Coupon Bonds A+ 2.92 - 6.11 6.11
equal Vineha Enterprises 2021 Zero Coupon Bonds Unrated 2.33 - 5.01 5.01
equal 9.60% Renew Wind Energy Delhi 31/03/2023 Debenture A+ 2.75 - 4.90 4.90
equal 9.08% Indiabulls Housing Finance 31/12/2021 Non Convertible Debenture AA+ 0.00 - 4.20 4.20
equal 11.95% Aqua Space Developers 27/06/2022 Non Convertible Debenture A 2.25 - 3.84 3.84
equal 9.70% Piramal Enterprises 24/12/2020 Non Convertible Debenture AA 1.67 - 3.68 3.68
equal Indian Receivable Trust 2019 Zero Coupon Bonds A 0.00 - 3.26 3.26
equal 9.60% Narmada Wind Energy Pvt. 31/03/2023 Debenture A+ 1.74 - 3.10 3.10
equal 9.75% Uttar Pradesh Power Corporation 20/10/2022 Debenture A+ 1.42 - 2.65 2.65
down 9.50% Nirma Non Convertible Debenture AA- 2.16 - 4.78 2.16
equal Indian Receivable Trust 26/01/2040 Zero Coupon Bonds A 0.00 - 2.01 2.01
equal 8.90% Indiabulls Housing Finance 26/09/2021 Bonds AA+ 0.00 - 1.95 1.95
equal Clix Capital Services 17/12/2021 Non Convertible Debenture AA- 0.96 - 1.79 1.79
equal 10.50% Sanghi Industries 2023 Non Convertible Debenture A 0.48 - 1.79 1.79
equal 9.75% Uttar Pradesh Power Corporation 20/10/2021 Debenture A+ 0.77 - 1.44 1.44
equal 9.50% Yes Bank Bonds BBB+ 0.00 - 1.30 1.29
equal 9.75% Uttar Pradesh Power Corporation 20/10/2023 Debenture A+ 0.65 - 1.20 1.20
equal Elena Renewable Energy Ltd. 16/11/2027 Zero Coupon Bonds AA 0.00 - 1.16 1.16
equal Pratyash Renewable Pvt. Ltd. 16/11/2027 Zero Coupon Bonds AA 0.00 - 1.16 1.16
equal Indian Receivable Trust 25/06/2021 Zero Coupon Bonds A 0.00 - 2.18 1.12
new 8.04% Vodafone Idea 27/01/2022 Debenture BBB- 0.00 - 1.08 1.08
equal 8.90% Reliance Home Finance 2020 Debenture D 0.00 - 0.89 0.89

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-Nov-2019

Fund Manager

— Prashant R Pimple since 01-Jan-2013

Education: Mr. Pimple is a MBA (Finance) and CTM.

Experience: Prior to joining Reliance Mutual Fund he has worked with Fidelity Mutual Fund, ICICI Bank, Bank of Bahrain & Kuwait, Saraswat Co-op Bank Ltd. and SIDBI.

Funds Managed:


-0.01%

Change from previous, NAV as on 13-Dec-2019

Growth: ₹ 27.1059

Dividend Quarterly: ₹ 12.8063

Dividend: ₹ 14.6758


Investment Strategy

The scheme aims to generate optimal returns consistent with moderate levels of risk. It will invest atleast 65 per cent of its assets in debt instruments with maturity of more than 1 year and the rest in money market instruments (including cash or call money and reverse repo) and debentures with maturity of less than 1 year. The exposure in government securities will generally not exceed 50 percent of the assets.

Investment Details

Minimum Investment (₹) 500
Minimum Addl Investment (₹) 500
Minimum SIP Investment (₹) 100
Minimum No of Cheques 60
Minimum Withdrawal (₹) 100
Minimum Balance (₹) 1
Exit Load For units in excess of 10% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: Nippon India Mutual Fund
Launch Date: 01-Jan-2013
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 5,605 Cr (As on 30-Nov-2019)
Expense: 0.88% (As on 30-Nov-2019)
Risk Grade: Average
Return Grade: Average
Turnover: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly23-Sep-20190.1714

 21-Jun-20190.1714
 22-Mar-20190.1714
 21-Dec-20180.1714
 21-Sep-20180.1714
 21-Jun-20180.1714
 21-Mar-20180.1719
 21-Dec-20170.1719
 21-Sep-20170.2160
 21-Jun-20170.2160
 21-Mar-20170.1719
 21-Dec-20160.2160
 21-Sep-20160.2160
 21-Jun-20160.2160
 21-Mar-20160.1719
 21-Dec-20150.2029
 21-Sep-20150.1719
 22-Jun-20150.1719
 23-Mar-20150.2085
 22-Dec-20140.2170
 22-Sep-20140.2330
 23-Jun-20140.2330
 21-Mar-20140.1777
 24-Dec-20130.2330
 24-Sep-20130.1855

Contact Information

AMC: Nippon India Life Asset Management Ltd.

Address: Reliance Centre, 7th Floor, South Wing Off Western Express Highway Santacruz (East) Mumbai - 400055

Phone: 022-68334800 / 18602660111

Fax: 022-33037662

Email: [email protected]

Website: http://www.nipponindiamf.com

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: Karvy House, No. 46, 8-2-609/K, Avenue 4, Street No.1 Banjara Hills, Hyderabad - 500034

Phone: 040-23312454

Email: [email protected]

Website: www.karvymfs.com

Upcoming Video

Investors' Hangout

Why you should ditch dividend plans

dateFriday, 20-Dec-2019
time12:30 PM - 01:00 PM