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3 star

DSP Credit Risk Fund


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.03 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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(₹)
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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 2.48 0.07 -0.03 -0.02 0.29 1.29 3.31 2.90 3.33 5.34 6.43
CCIL T Bill Liquidity Weight 1.61 -0.01 -0.03 0.11 0.50 1.06 2.04 3.32 3.61 4.05 4.52
Debt: Credit Risk 7.98 0.00 -0.01 2.57 3.69 5.93 9.73 2.77 3.67 6.39 7.56
Rank within category 15 2 11 15 16 16 15 12 12 10 4
Number of funds in category 16 16 16 16 16 16 16 16 15 12 4

As on 21-Oct-2021

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 3.31 2.90 3.33 1.62% 251
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 8.59 9.20 7.74 1.63% 8,607
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 7.02 8.80 7.86 1.56% 8,053
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 6.09 7.48 7.01 1.55% 3,380
Aditya Birla Sun Life Credit Risk Fund - Regular Plan  | Invest Online
4 star
Apr-15 7.36 6.33 6.55 1.92% 1,451

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) 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 2.72 3.36 -0.36 -0.27 -1.95 -2.41
CCIL T Bill Liquidity Weight 3.34 0.40 -1.54 -3.94 -- --
Debt: Credit Risk 3.10 7.16 0.60 0.71 -4.84 -3.81
Rank within category 13 8 14 14 9 10
Number of funds in category 16 16 16 16 16 16

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

As on 30-Sep-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 9 9 5 30
Modified Duration (yrs) 1.44 1.44 0.12 1.93
Average Maturity (yrs) 1.69 1.69 0.20 2.35
Yield to Maturity (%) 4.71 6.16 3.26 5.72
Avg Credit Rating AAA -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
new 6.79% GOI 15/05/2027 GOI Securities SOV 0.00 - 10.63 10.63
new 9.81% Tata Motors 20/08/2024 Debenture AA- 0.00 - 8.89 8.89
equal 6.50% Tata Realty and Infrastructure 23/09/2022 Debenture AA 0.00 - 8.39 8.39
new 6.92% Godrej Industries 14/05/2025 Debenture AA 0.00 - 8.39 8.39
equal 5.90% Bharti Hexacom 30/04/2024 Debenture AA+ 0.00 - 8.05 8.05
equal 9.25% Manappuram Finance 14/02/2022 Non Convertible Debenture AA 0.00 - 6.42 6.42
up 5.35% Telesonic Network 28/04/2023 Debenture AA+ 0.00 - 5.25 5.25
new 5.80% Aditya Birla Fashion and Retail 2024 Non Convertible Debenture AA 0.00 - 3.99 3.99
equal 9.60% Hindalco Inds. 2022 Bonds/NCDs AA+ 0.00 - 2.19 2.11

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-2021

Fund Manager

— Laukik Bagwe since 18-Jul-2016

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

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

Funds Managed:

— Vivekanand Ramakrishnan since 17-Jul-2021

Education: Mr. Ramakrishnan is a B.Tech from IIT Madras, MS and PHD from University of Southern California.

Experience: Prior to joining DSP Investment Managers. He has worked with ICICI Prudential Mutual Fund, Standard Chartered Bank, Vikram Ispat as Marketing Executive and with CRISIL as manager-rating.

Funds Managed:


0.07%

Change from previous, NAV as on 21-Oct-2021

Growth: ₹ 30.7217

IDCW Weekly: ₹ 10.2461

More

IDCW Quarterly: ₹ 10.7906

IDCW Monthly: ₹ 10.5718

IDCW Daily: ₹ 10.2456

IDCW: ₹ 11.5946


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 12
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 500
Lock-in Period Not Applicable
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: 6.27%
Benchmark: CRISIL Short Term Credit Risk
Riskometer: Moderately High
Type: Open-ended
Assets: ₹ 251 Cr (As on 30-Sep-2021)
Expense: 1.62% (As on 31-Aug-2021)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Monthly28-Sep-20210.0086

 27-Aug-20210.0101
 28-Jul-20210.0252
 28-Jun-20210.0210
 28-May-20210.0498
 28-Apr-20210.0389
 26-Mar-20210.0324
 26-Feb-20210.0312
 28-Jan-20210.0270
 28-Dec-20200.0258
 27-Nov-20200.0409
 28-Oct-20200.0463
 28-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
IDCW Quarterly28-Sep-20210.0535

 28-Jun-20210.1122
 26-Mar-20210.0820
 28-Dec-20200.1143
 28-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
IDCW Daily22-Sep-20210.0020

 21-Sep-20210.0003
 20-Sep-20210.0004
 19-Sep-20210.0011
 16-Sep-20210.0001
 14-Sep-20210.0012
 13-Sep-20210.0012
 12-Sep-20210.0021
 08-Sep-20210.0018
 06-Sep-20210.0014
 05-Sep-20210.0017
 02-Sep-20210.0004
 01-Sep-20210.0006
 31-Aug-20210.0023
 30-Aug-20210.0002
 29-Aug-20210.0016
 26-Aug-20210.0001
 25-Aug-20210.0004
 24-Aug-20210.0002
 23-Aug-20210.0006
 22-Aug-20210.0008
 19-Aug-20210.0006
 17-Aug-20210.0009
 16-Aug-20210.0014
 12-Aug-20210.0010
IDCW Weekly22-Sep-20210.0044

 15-Sep-20210.0040
 08-Sep-20210.0052
 01-Sep-20210.0049
 25-Aug-20210.0020
 19-Aug-20210.0039
 11-Aug-20210.0021
 04-Aug-20210.0018
 28-Jul-20210.0055
 21-Jul-20210.0053
 14-Jul-20210.0072
 07-Jul-20210.0060
 30-Jun-20210.0037
 23-Jun-20210.0048
 16-Jun-20210.0043
 09-Jun-20210.0062
 02-Jun-20210.0070
 26-May-20210.0052
 19-May-20210.0050
 13-May-20210.0277
 05-May-20210.0081
 28-Apr-20210.0100
 21-Apr-20210.0084
 14-Apr-20210.0089
 07-Apr-20210.0026
IDCW26-Mar-20210.4009

 27-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

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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