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SBI Credit Risk Fund

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Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.07 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.24 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 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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Annual Returns
Quarterly Returns
Monthly Returns
Weekly Returns

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(₹)
cal
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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 0.48 0.01 0.11 0.92 1.63 3.68 6.51 6.38 7.78 8.63 8.54
Debt: Credit Risk -0.37 -0.51 -0.66 -0.09 0.58 1.14 -0.38 3.32 6.44 7.25 7.21
Rank within category 4 15 9 2 10 7 6 4 4 -- --
Number of funds in category 20 20 20 20 20 20 20 17 13 7 2

As on 17-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week -- ( - ) -- ( - )
Month 2.77 (17-Nov-2008 - 17-Dec-2008) -1.38 (02-Apr-2019 - 02-May-2019)
Quarter 4.35 (15-Oct-2008 - 14-Jan-2009) -0.22 (02-Apr-2019 - 02-Jul-2019)
Year 11.63 (31-Jan-2014 - 02-Feb-2015) 4.10 (25-Sep-2017 - 25-Sep-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.35 1.73 0.37 0.44 4.16 7.47
Debt: Credit Risk 3.83 4.18 -0.14 0.04 2.63 2.43
Rank within category 5 3 5 5 18 1
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-Dec-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 89 96 80 51
Modified Duration (yrs) 1.92 1.99 1.41 1.51
Average Maturity (yrs) 2.49 2.63 1.82 1.92
Yield to Maturity (%) 8.69 13.39 8.66 9.77

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 7.90% Bharat Aluminium Co. 31/07/2020 Non Convertible Debenture AA- 0.00 - 3.91 3.91
equal 9.90% Sadbhav Engineering 14/09/2021 Debenture A 0.00 - 3.75 3.75
equal Embassy Office Parks REIT 2022 Non Convertible Debenture AAA 0.00 - 3.82 3.68
equal Tata Realty and Infrastructure 2021 Debenture AA 0.00 - 3.65 3.65
equal 7.90% Nirma 28/02/2020 Debenture AA 1.79 - 3.25 3.25
equal 12.30% Sterlite Power Grid Ventures 28/03/2022 Debenture A+ 0.00 - 2.96 2.96
equal Tata Realty and Infrastructure 20/04/2021 Zero Coupon Bonds AA 2.43 - 2.85 2.85
equal 10.10% L&T Vadodara Bharuch Tollway 30/06/2021 Debenture A 2.31 - 2.54 2.54
equal TMF Holdings 28/03/2022 Zero Coupon Bonds AA- 0.00 - 2.53 2.53
equal Pune Solapur Expressways 31/03/2029 Debenture A 2.31 - 2.50 2.50
equal KKR India Financial Services 2020 Structured Obligation AA 0.00 - 2.18 2.18
equal 9.70% Coastal Gujarat Power 27/08/2023 Non Convertible Debenture AA 1.81 - 2.02 2.02
equal 8.29% Century Textiles & Inds. 15/04/2020 Bonds AA 0.72 - 1.98 1.98
equal 6.98% National Bank Agr. Rur. Devp 19/09/2022 Debenture AAA 0.00 - 1.88 1.88
equal 8.84% Tata Power 21/02/2023 Debenture AA 0.00 - 1.80 1.80
equal 8.60% IDFC Infrastructure Finance 2024 Debenture AAA 0.00 - 1.94 1.71
equal 9.21% Punjab National Bank Bonds A 0.00 - 1.60 1.60
equal 8.57% NUVOCO Vistas Corp. 14/09/2020 Debenture AA 0.54 - 1.58 1.58
equal 8.27% Nat. Highways Authority 28/03/2029 Debenture AAA 0.00 - 2.27 1.54
equal 7.69% National Bank Agr. Rur. Devp 29/05/2024 Non Convertible Debenture AAA 0.00 - 1.52 1.51
equal 11.50% Gateway Distriparks 2021 Non Convertible Debenture AA- 0.09 - 1.39 1.49
equal 8.25% Quess Corp 23/01/2022 Debenture AA 0.00 - 1.48 1.48
equal 10.90% AU Small Finance Bank 30/05/2025 Debenture AA- 1.37 - 1.48 1.48
equal 8.48% L&T Housing Finance 29/11/2022 Non Convertible Debenture AAA 0.00 - 1.47 1.47
equal 8.30% L&T Housing Finance 29/11/2021 Non Convertible Debenture AAA 0.00 - 1.47 1.47

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

— Lokesh Mallya since 01-Feb-2017

Education: Mr. Mallya is MBA and FRM.

Experience: Prior to SBI Mutual Fund, he has worked with Aditya Birla Sun Life AMC as fund manager (Sept 2009-Sept 2014) and as Credit Analyst (July 2006 - Aug 2009).

— Mansi Sajeja since 01-Feb-2017

Education: Ms. Sajeja is a CFA and has done Post Graduate Diploma in Business Management.

Experience: She was a Rating Analyst at ICRA Limited

Invest Online
0.01%

Change from previous, NAV as on 17-Jan-2020

Growth: ₹ 31.1943

Dividend Quarterly: ₹ 14.1024

Dividend Daily: ₹ 10.5000

Investment Strategy

The scheme seeks to provide the investors an opportunity to predominantly invest in corporate bonds rated AA and below(excluding AA+ rated corporate bonds) so as to generate attractive returns while maintaining moderate liquidity in the portfolio through investment in money market securities.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 1,000
Exit Load For units in excess of 8% of the investment,3% will be charged for redemption within 365 days
For units in excess of 8% of the investment,1.5% will be charged for redemption between 366 - 730 days
For units in excess of 8% of the investment,0.75% will be charged for redemption between 731 - 1095 days

Basic Details

Fund House: SBI Mutual Fund
Launch Date: 14-Jul-2004
Return Since Launch: 7.61%
Benchmark: CRISIL Composite Credit Risk
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 5,076 Cr (As on 31-Dec-2019)
Expense: 1.55% (As on 31-Dec-2019)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily16-Jan-20200.0008

 15-Jan-20200.0028
 14-Jan-20200.0008
 10-Jan-20200.0036
 08-Jan-20200.0035
 07-Jan-20200.0019
 27-Nov-20190.0053
 26-Nov-20190.0028
 25-Nov-20190.0039
 22-Nov-20190.0080
 21-Nov-20190.0022
 20-Nov-20190.0023
 19-Nov-20190.0049
 18-Nov-20190.0086
 15-Nov-20190.0068
 14-Nov-20190.0050
 13-Nov-20190.0050
 11-Nov-20190.0052
 08-Nov-20190.0012
 06-Nov-20190.0005
 01-Nov-20190.0038
 31-Oct-20190.0047
 30-Oct-20190.0079
 29-Oct-20190.0054
 25-Oct-20190.0049
Dividend Quarterly27-Dec-20190.1549

 27-Sep-20190.1441
 28-Jun-20190.1441
 29-Mar-20190.1441
 28-Dec-20180.1441
 07-Sep-20180.1441
 23-Mar-20180.1445
 29-Dec-20170.1806
 29-Sep-20170.1806
 30-Jun-20170.1806
 24-Mar-20170.1445
 30-Dec-20160.1445
 30-Sep-20160.1445
 30-Jun-20160.1445
 23-Mar-20160.1445
 23-Dec-20150.1445
 24-Sep-20150.1445
 26-Jun-20150.1661
 20-Mar-20150.1452
 29-Dec-20140.1815
 29-Sep-20140.1995
 27-Jun-20140.2494
 28-Mar-20140.1559
 27-Dec-20130.3000
 26-Dec-20120.1762

Contact Information

AMC: SBI Funds Management Ltd

Address: 9th Floor-Crescenzo, C-38 & 39- G Block, Bandra-Kurla Complex, Bandra (East) Mumbai - 400051

Phone: 022-61793000 / 1800-425-5425

Fax: 022-22189663

Email: [email protected]

Website: www.sbimf.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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