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DSP Banking & PSU Debt Fund - Direct Plan


1 Lakh

Investment Grown to
₹ 1.11 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.26 Lakh

Analyst's Choice?

Suitability:

This is a fund that invests mainly in bonds issued by banks, public sector undertakings (PSUs) and public financial institutions.

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 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 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-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 0.80 0.09 0.33 0.82 1.95 4.97 10.56 7.53 8.33 -- --
CCIL T Bill Liquidity Weight 0.25 0.01 0.06 0.25 0.81 1.86 4.14 4.14 4.47 -- --
Debt: Banking and PSU 0.78 0.08 0.31 0.83 2.12 4.75 10.52 7.74 8.35 -- --
Rank within category 9 6 9 10 14 8 11 13 10 -- --
Number of funds in category 19 19 19 19 19 18 17 15 13 4 0

As on 27-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 1.17 (09-Jan-2015 - 16-Jan-2015) -0.92 (01-Dec-2016 - 08-Dec-2016)
Month 2.36 (25-Oct-2016 - 24-Nov-2016) -1.02 (25-Nov-2016 - 27-Dec-2016)
Quarter 4.52 (25-Aug-2016 - 24-Nov-2016) -0.43 (06-Dec-2016 - 07-Mar-2017)
Year 12.50 (24-Nov-2015 - 24-Nov-2016) 3.78 (11-Sep-2017 - 11-Sep-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 7.29 1.93 0.81 1.38 4.88 9.58
CCIL T Bill Liquidity Weight 4.08 0.26 -6.21 -10.52 -- --
Debt: Banking and PSU 7.53 2.04 1.02 1.97 4.74 9.59
Rank within category 16 8 15 13 11 11
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 31-Dec-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 53 57 38 66
Modified Duration (yrs) 2.29 2.78 1.34 2.63
Average Maturity (yrs) 2.99 4.32 2.07 3.40
Yield to Maturity (%) 6.73 7.87 6.50 6.91

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
up 7.93% NTPC 2022 Non Convertible Debenture AAA 0.00 - 6.91 6.91
up 6.99% SIDBI 2022 Bonds/NCDs AAA 0.00 - 5.55 5.55
up 6.80% HPCL 15/12/2022 Debenture AAA 0.00 - 5.14 5.14
up 6.70% IRFC 24/11/2021 Bonds/NCDs AAA 0.00 - 4.72 4.12
new 6.18% GOI 2024 GOI Securities SOV 0.00 - 4.02 4.02
equal 8.02% BPCL 2024 Debenture AAA 0.00 - 9.55 3.63
new 7.24% REC 31/12/2022 Non Convertible Debenture AAA 0.00 - 3.62 3.62
up 8.45% Power Finance Corp. 2022 Non Convertible Debenture AAA 0.00 - 3.73 3.57
equal 8.30% Reliance Industries 2022 Debenture AAA 0.00 - 5.31 3.49
equal 7.11% Nat. Highways Authority 2022 Non Convertible Debenture AAA 0.00 - 4.07 3.27
equal 6.98% National Bank Agr. Rur. Devp 19/09/2022 Debenture AAA 0.00 - 3.92 3.26
equal 7.34% Power Grid Corporation 15/07/2024 Bonds/NCDs AAA 0.00 - 3.76 3.12
equal 7.09% REC 17/10/2022 Debenture AAA 0.00 - 3.04 2.36
equal 8.88% Export-Import Bank 18/10/2022 Bonds AAA 0.00 - 2.41 2.29
down 7.18% National Bank Agr. Rur. Devp 2022 Non Convertible Debenture AAA 0.00 - 3.44 2.20
equal 7.10% Power Finance Corp. 2022 Bonds/NCDs AAA 0.00 - 2.29 2.18
new 7.00% Reliance Industries 31/08/2022 Non Convertible Debenture AAA 0.00 - 2.18 2.18
equal 7.28% HDFC 26/09/2022 Debenture AAA 0.00 - 3.76 2.17
equal 7.35% Power Finance Corp. 15/10/2022 Debenture AAA 0.00 - 2.51 2.17
equal 8.90% State Bank of India 2028 Non Convertible Debenture AAA 2.17 - 6.41 2.17
new 7.17% Reliance Industries 2022 Non Convertible Debenture AAA 0.00 - 3.69 2.16
equal 6.70% National Bank Agr. Rur. Devp 2022 Debenture AAA 0.00 - 2.25 2.14
equal 8.81% SIDBI 25/01/2022 Debenture AAA 0.00 - 3.40 1.91
equal 8.15% REC 2022 Non Convertible Debenture AAA 0.00 - 2.45 1.81
equal 7.45% REC 30/11/2022 Non Convertible Debenture AAA 0.00 - 2.14 1.72

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-2019

Fund Manager

— Saurabh Bhatia since 14-Feb-2018

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:

— Vikram Chopra since 18-Jul-2016

Education: Mr. Chopra is B.Com (H) and MBA from Institute of Management.

Experience: Prior to joining DSP Mutual Fund he has worked with L&T Mutual Fund, IDBI Bank Ltd. and Axis Bank Ltd.

Funds Managed:


0.09%

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

Growth: ₹ 17.3673

Dividend Weekly: ₹ 10.1773

More

Dividend Quarterly: ₹ 10.2687

Dividend Monthly: ₹ 10.2370

Dividend Daily: ₹ 10.1600

Dividend: ₹ 11.0393


Investment Strategy

The Scheme seeks to generate income and capital appreciation by primarily investing in a portfolio of high quality debt and money market securities that are issued by banks and public sector entities/undertakings.

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 0

Basic Details

Fund House: DSP Mutual Fund
Launch Date: 14-Sep-2013
Return Since Launch: 9.05%
Benchmark: NIFTY Banking and PSU Debt TRI
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 2,354 Cr (As on 31-Dec-2019)
Expense: 0.25% (As on 31-Dec-2019)
Risk Grade: Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily26-Jan-20200.0064

 23-Jan-20200.0061
 22-Jan-20200.0031
 21-Jan-20200.0057
 20-Jan-20200.0031
 19-Jan-20200.0040
 16-Jan-20200.0031
 12-Jan-20200.0016
 08-Jan-20200.0005
 07-Jan-20200.0048
 06-Jan-20200.0031
 05-Jan-20200.0004
 02-Jan-20200.0037
 03-Dec-20190.0043
 02-Dec-20190.0022
 01-Dec-20190.0011
 28-Nov-20190.0020
 27-Nov-20190.0050
 26-Nov-20190.0016
 25-Nov-20190.0009
 24-Nov-20190.0072
 21-Nov-20190.0002
 20-Nov-20190.0019
 19-Nov-20190.0029
 18-Nov-20190.0024
Dividend Weekly22-Jan-20200.0196

 15-Jan-20200.0010
 08-Jan-20200.0175
 01-Jan-20200.0047
 27-Nov-20190.0150
 20-Nov-20190.0203
 13-Nov-20190.0094
 06-Nov-20190.0076
 30-Oct-20190.0357
 23-Oct-20190.0351
 16-Oct-20190.0170
 09-Oct-20190.0087
 02-Oct-20190.0120
 18-Sep-20190.0095
 11-Sep-20190.0043
 04-Sep-20190.0147
 28-Aug-20190.0162
 21-Aug-20190.0131
 07-Aug-20190.0434
 31-Jul-20190.0411
 24-Jul-20190.1305
 17-Jul-20190.0250
 10-Jul-20190.0159
 03-Jul-20190.0120
 26-Jun-20190.0148
Dividend Quarterly27-Dec-20190.1393

 27-Sep-20190.2171
 28-Jun-20190.1778
 28-Mar-20190.1924
 28-Dec-20180.2059
 30-Sep-20180.1121
 28-Jun-20180.0468
 28-Mar-20180.0931
 28-Dec-20170.0436
 28-Sep-20170.1272
 28-Jun-20170.2086
 27-Mar-20170.0399
 28-Dec-20160.1890
 28-Sep-20160.2718
 28-Jun-20160.1654
 28-Mar-20160.1570
 28-Dec-20150.1577
 28-Sep-20150.1722
 26-Jun-20150.1251
 27-Mar-20150.1939
 26-Dec-20140.2403
 26-Sep-20140.1501
 27-Jun-20140.2325
 28-Mar-20140.1752
 27-Dec-20130.1196
Dividend Monthly28-Nov-20190.0865

 25-Oct-20190.0977
 27-Sep-20190.0006
 28-Aug-20190.1170
 26-Jul-20190.0853
 28-Jun-20190.0331
 28-May-20190.1122
 28-Mar-20190.1002
 28-Feb-20190.0510
 28-Jan-20190.0468
 28-Dec-20180.0841
 28-Nov-20180.0766
 26-Oct-20180.0455
 30-Sep-20180.0188
 28-Aug-20180.0441
 27-Jul-20180.0603
 28-Jun-20180.0163
 28-Mar-20180.0809
 28-Feb-20180.0162
 25-Jan-20180.0118
 28-Nov-20170.0087
 27-Oct-20170.0374
 28-Sep-20170.0243
 28-Aug-20170.0436
 28-Jul-20170.0727
Dividend28-Mar-20190.5737

 28-Mar-20180.4851
 27-Mar-20170.6927
 28-Mar-20160.6310
 27-Mar-20150.4401
 26-Sep-20140.1500
 27-Jun-20140.2325
 28-Mar-20140.1763
 27-Dec-20130.1196

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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