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:
|CCIL T Bill Liquidity Weight||1.80||0.04||0.01||0.27||1.09||1.99||4.11||4.21||4.39||4.73||4.79|
|Debt: Credit Risk||-5.20||0.02||0.11||0.65||-4.83||-4.88||-4.26||0.26||3.39||5.84||6.88|
|Rank within category||10||8||17||14||11||10||8||12||10||4||2|
|Number of funds in category||18||18||18||18||18||18||18||16||14||6||3|
As on 05-Jun-2020
|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)|
|CCIL T Bill Liquidity Weight||4.15||0.27||-4.64||-8.65||--||--|
|Debt: Credit Risk||1.02||6.36||-0.37||-0.17||-1.99||-6.83|
|Rank within category||14||10||17||17||11||9|
|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-May-2020
|Fund||1Y High||1Y Low||Category|
|Number of Securities||12||74||12||25|
|Modified Duration (yrs)||0.61||1.56||0.61||--|
|Average Maturity (yrs)||0.73||1.99||0.73||--|
|Yield to Maturity (%)||9.93||9.93||7.99||--|
|Company||Instrument||Credit Rating||1Y Range||% Assets|
|9.50% Nayara Energy 29/07/2021||Bonds/NCDs||AA||5.90 - 30.49||30.49|
|KKR India Financial Services 16/01/2021||Debenture||AA||0.00 - 4.90||4.90|
|KKR India Financial Services 16/01/2022||Debenture||AA||0.00 - 4.80||4.80|
|9.45% ECL Finance 2021||Debenture||AA-||0.00 - 4.34||4.34|
|KKR India Financial Services 2021||Debenture||AA||0.00 - 3.79||3.79|
|KKR India Financial Services 23/04/2021||Debenture||AA||0.00 - 3.55||3.55|
|8.60% Export-Import Bank 30/04/2099||Bonds||AA+||0.54 - 1.91||1.91|
|Sintex-BAPL 31/12/2022||Debenture||D||0.00 - 1.42||1.42|
|Sintex-BAPL 31/12/2020||Debenture||D||0.00 - 1.42||1.42|
|Sintex-BAPL 31/12/2021||Debenture||D||0.00 - 1.42||1.42|
|7.40% Tata Motors 29/06/2021||Bonds||AA-||0.00 - 0.08||0.08|
|8.35% Bharti Airtel 20/04/2021||Non Convertible Debenture||AA||0.01 - 2.49||0.03|
Indicates an increase or decrease or no change in holding since last portfolio
Indicates a new holding since last portfolio
As on 30-Apr-2020
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.
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.
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The scheme seeks to generate returns commensurate with risk from a portfolio constituted of money market securities and debt securities.
|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|
|Fund House:||DSP Mutual Fund|
|Return Since Launch:||6.34%|
|Benchmark:||CRISIL Short Term Credit Risk|
|Assets:||₹ 680 Cr (As on 30-Apr-2020)|
|Expense:||1.67% (As on 30-Apr-2020)|
|Risk Grade:||Above Average|
|Plan||Record Date||Dividend (₹ / Unit)|
Fund News - 12-Feb-2018
Fund News - 15-Jul-2016
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
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
Email: [email protected]