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3 star

DSP Credit Risk Fund


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.05 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 4.08 0.01 0.09 0.47 2.63 4.13 5.24 1.96 4.74 6.34 6.92
CCIL T Bill Liquidity Weight 2.75 0.01 0.07 0.25 0.62 1.30 3.29 3.95 4.14 4.57 4.76
Debt: Credit Risk -0.91 -0.02 0.11 1.01 2.39 4.64 -0.02 0.92 3.73 6.11 7.17
Rank within category 11 7 12 16 7 12 11 11 10 4 2
Number of funds in category 18 18 18 18 18 18 18 16 15 6 3

As on 27-Oct-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
DSP Credit Risk Fund  | Invest Online
3 star
May-03 5.24 1.96 4.74 1.58 328
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 10.24 8.18 8.28 1.63 6,563
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 9.99 7.38 8.22 1.68 6,189
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 8.92 6.97 7.78 1.56 3,721
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 6.24 6.73 7.65 1.77 1,905

Best & Worst Performance

Best (Period) Worst (Period)
Week 1.53 (24-Mar-2020 - 31-Mar-2020) -4.19 (11-Dec-2018 - 18-Dec-2018)
Month 1.95 (20-Aug-2013 - 19-Sep-2013) -3.78 (05-Dec-2018 - 04-Jan-2019)
Quarter 3.85 (29-Aug-2013 - 28-Nov-2013) -3.62 (18-Sep-2018 - 18-Dec-2018)
Year 11.81 (04-Mar-2014 - 04-Mar-2015) -4.71 (21-Aug-2018 - 21-Aug-2019)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 2.04 3.81 -0.79 -0.67 -1.31 -4.53
CCIL T Bill Liquidity Weight 3.90 0.32 -3.63 -6.95 -- --
Debt: Credit Risk 1.17 6.57 -0.17 0.01 -3.10 -7.48
Rank within category 12 8 15 16 9 10
Number of funds in category 17 17 17 17 17 17

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

As on 30-Sep-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 6 33 6 26
Modified Duration (yrs) 0.35 1.26 0.35 1.63
Average Maturity (yrs) 0.50 1.52 0.50 1.97
Yield to Maturity (%) 6.24 12.69 6.24 7.97
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 9.50% Nayara Energy 29/07/2021 Bonds/NCDs AA 12.79 - 49.01 46.49
equal Sintex-BAPL 31/12/2022 Debenture D 0.57 - 2.95 2.95
equal Sintex-BAPL 31/12/2021 Debenture D 0.58 - 2.95 2.95
equal Sintex-BAPL 31/12/2020 Debenture D 0.59 - 2.95 2.95
equal 7.40% Tata Motors 29/06/2021 Bonds AA- 0.00 - 0.16 0.16
equal 8.35% Bharti Airtel 20/04/2021 Non Convertible Debenture AA 0.01 - 0.06 0.06

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-Sep-2020

Fund Manager

— Laukik Bagwe since 18-Jul-2016

Education: Mr. Bagwe is a B.Com (H) and PGDBA (Finance)

Experience: Prior to joining DSPBR he has worked with Derivium Capital and Securities Pvt. Ltd. and with Birla Sun Life Securities Ltd.

Funds Managed:

— Saurabh Bhatia since 01-Mar-2019

Education: Mr. Bhatia holds Post Graduation Diploma in Business Management, Finance.

Experience: Prior to joining DSPBR Mutual Fund, had worked with ICICI Bank, HSBC Global Asset Management.

Funds Managed:


0.01%

Change from previous, NAV as on 27-Oct-2020

Growth: ₹ 29.7602

Dividend Weekly: ₹ 10.2563

More

Dividend Quarterly: ₹ 10.8081

Dividend Monthly: ₹ 10.5927

Dividend Daily: ₹ 10.2505

Dividend: ₹ 11.6261


Investment Strategy

The scheme seeks to generate returns commensurate with risk from a portfolio constituted of money market securities and debt securities.

Investment Details

Minimum Investment (₹) 500
Minimum Addl Investment (₹) 500
Minimum SIP Investment (₹) 500
Minimum No of Cheques 6
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 500
Exit Load For units in excess of 10% of the investment,1% will be charged for redemption within 364 days

Basic Details

Fund House: DSP Mutual Fund
Launch Date: 13-May-2003
Return Since Launch: 6.44%
Benchmark: CRISIL Short Term Credit Risk
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 328 Cr (As on 30-Sep-2020)
Expense: 1.58% (As on 30-Sep-2020)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily26-Oct-20200.0007

 25-Oct-20200.0035
 22-Oct-20200.0011
 21-Oct-20200.0028
 20-Oct-20200.0011
 19-Oct-20200.0011
 18-Oct-20200.0039
 15-Oct-20200.0011
 14-Oct-20200.0018
 13-Oct-20200.0020
 12-Oct-20200.0028
 11-Oct-20200.0032
 08-Oct-20200.0054
 07-Oct-20200.0014
 06-Oct-20200.0024
 05-Oct-20200.0022
 04-Oct-20200.0044
 30-Sep-20200.0020
 29-Sep-20200.0011
 28-Sep-20200.0011
 25-Sep-20200.0033
 24-Sep-20200.0011
 23-Sep-20200.0011
 22-Sep-20200.0011
 21-Sep-20200.0029
Dividend Weekly21-Oct-20200.0099

 14-Oct-20200.0152
 07-Oct-20200.0104
 30-Sep-20200.0086
 23-Sep-20200.1183
 22-Apr-20200.0234
 02-Apr-20200.0342
 04-Mar-20200.0064
 29-Aug-20180.0055
 22-Aug-20180.0122
 15-Aug-20180.0037
 08-Aug-20180.0080
 01-Aug-20180.0188
 25-Jul-20180.0079
 18-Jul-20180.0146
 11-Jul-20180.0141
 04-Jul-20180.0137
 04-Apr-20180.0150
 02-Apr-20180.0466
 21-Mar-20180.0113
 14-Mar-20180.0242
 07-Mar-20180.0133
 14-Feb-20180.0025
 07-Feb-20180.0094
 24-Jan-20180.0074
Dividend Monthly28-Sep-20200.1659

 27-Mar-20200.0158
 28-Aug-20180.0443
 27-Jul-20180.0553
 28-Jun-20180.0115
 28-Mar-20180.0993
 28-Feb-20180.0002
 25-Jan-20180.0303
 28-Nov-20170.0104
 27-Oct-20170.0386
 28-Sep-20170.0252
 28-Aug-20170.0402
 28-Jul-20170.0688
 28-Jun-20170.0574
 26-May-20170.0514
 28-Apr-20170.0453
 27-Mar-20170.0332
 27-Jan-20170.0593
 28-Nov-20160.1150
 28-Oct-20160.0537
 28-Sep-20160.0841
 26-Aug-20160.0648
 28-Jul-20160.1067
 28-Jun-20160.0508
 27-May-20160.0433
Dividend Quarterly28-Sep-20200.1590

 27-Mar-20200.0212
 28-Jun-20180.0100
 28-Mar-20180.0891
 28-Dec-20170.0510
 28-Sep-20170.1307
 28-Jun-20170.1709
 27-Mar-20170.0955
 28-Dec-20160.1489
 28-Sep-20160.2422
 28-Jun-20160.1720
 28-Mar-20160.1590
 28-Dec-20150.1502
 28-Sep-20150.1718
 26-Jun-20150.1333
 27-Mar-20150.1726
 26-Dec-20140.2016
 26-Sep-20140.1213
 27-Jun-20140.2254
 28-Mar-20140.1572
 27-Dec-20130.1985
 27-Sep-20130.0552
 28-May-20130.1938
 28-Mar-20130.1535
 28-Dec-20120.1348
Dividend27-Mar-20200.0379

 28-Mar-20180.4838
 27-Mar-20170.7571
 28-Mar-20160.7293
 27-Mar-20150.4258
 26-Sep-20140.1304
 27-Jun-20140.2420
 28-Mar-20140.1692
 27-Dec-20130.2131
 27-Sep-20130.0593
 28-May-20130.2085
 28-Mar-20130.1649
 28-Dec-20120.1447
 28-Sep-20120.2149
 28-Jun-20120.1941
 28-Mar-20120.1380
 28-Dec-20110.1679
 29-Sep-20110.1879
 28-Jun-20110.1730
 28-Mar-20110.1614
 28-Dec-20100.1304
 28-Sep-20100.1086
 28-Jun-20100.0952
 26-Mar-20100.0865
 28-Dec-20090.0899

Contact Information

AMC: DSP Investment Managers Pvt. Ltd.

Address: NATRAJ, Office No. 302-3rd Floor-Plot No. 194, MV Road Junction Western Express Highway, Andheri East Mumbai - 400069

Phone: 022-66178000

Fax: 022-56578181

Website: https://www.dspim.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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