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IDBI Credit Risk Fund - Regular Plan


1 Lakh

Investment declined to
₹ 0.83 Lakh

₹ 10000

Monthly SIP Declined to
₹ 1.08 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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(₹)
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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 -10.65 0.30 0.99 1.30 -12.01 -11.11 -16.95 -2.63 1.46 -- --
CCIL T Bill Liquidity Weight 1.78 0.11 0.16 0.35 1.22 2.09 4.36 4.26 4.43 -- --
Debt: Credit Risk -4.86 0.21 0.46 -3.42 -5.49 -4.67 -5.09 0.73 3.73 -- --
Rank within category 16 3 3 2 17 16 17 15 13 -- --
Number of funds in category 19 19 19 19 19 19 19 17 15 6 3

As on 22-May-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.68 (24-Mar-2020 - 31-Mar-2020) -13.24 (04-Mar-2020 - 11-Mar-2020)
Month 2.15 (24-Mar-2020 - 23-Apr-2020) -15.08 (25-Feb-2020 - 26-Mar-2020)
Quarter 3.05 (02-Sep-2014 - 02-Dec-2014) -14.16 (29-Jan-2020 - 29-Apr-2020)
Year 10.30 (11-Apr-2014 - 13-Apr-2015) -19.78 (30-Apr-2019 - 29-Apr-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -3.14 8.79 -0.98 -0.55 -7.23 -18.09
CCIL T Bill Liquidity Weight 4.16 0.26 -5.00 -9.29 -- --
Debt: Credit Risk 0.99 6.28 -0.42 -0.22 -1.87 -6.94
Rank within category 16 16 17 15 2 17
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 30-Apr-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 10 12 10 28
Modified Duration (yrs) 1.93 2.12 1.89 --
Average Maturity (yrs) 2.43 2.81 2.39 --
Yield to Maturity (%) 9.57 10.49 8.70 --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 9.21% Punjab National Bank Bonds A 0.00 - 31.17 31.17
equal 7.99% Tata Power 16/11/2022 Debenture AA 10.58 - 21.24 21.24
equal 9.60% Hindalco Inds. 2022 Bonds/NCDs AA 10.09 - 16.80 16.80
up 8.37% HUDCO 25/03/2029 Debenture AAA 0.00 - 8.31 8.31
equal 11.00% JK Cement 24/01/2021 Debenture AA 5.07 - 9.99 6.63
down 8.50% Vedanta 2021 Debenture AA 2.14 - 15.53 2.14
equal 8.75% Axis Bank 28/06/2022 Bonds AA+ 1.07 - 2.10 2.10
down 9.25% Reliance Jio Infocomm 16/06/2024 Debenture AAA 1.40 - 9.91 1.40
equal Yes Bank Bonds/NCDs D 0.00 - 0.00 0.00
equal 8.90% Dewan Housing Fin. Corpn. 2021 Debenture D 0.00 - 3.58 0.00

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-Apr-2020

Fund Manager

— Bhupesh Kalyani since 01-Feb-2017

Education: Mr. Kalyani is a CA, ICWA and CISA.

Experience: Prior to joining IDBI AMC he was with LIC Mutual Fund, Edelweiss Mutual Fund, Tata Mutual Fund and Star Union Dai-ichi life Insurance C.o. Ltd.

Funds Managed:


0.30%

Change from previous, NAV as on 22-May-2020

Growth: ₹ 12.0874

Dividend Yearly: ₹ 9.0379

Dividend Quarterly: ₹ 8.5529


Investment Strategy

The Scheme seeks to generate regular income and opportunities for capital appreciation by investing predominantly in AA and below rated corporate bonds across maturity spectrum.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 5,000
Exit Load 1% for redemption within 365 days

Basic Details

Fund House: IDBI Mutual Fund
Launch Date: 03-Mar-2014
Return Since Launch: 3.05%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 46 Cr (As on 30-Apr-2020)
Expense: 1.38% (As on 30-Apr-2020)
Risk Grade: Above Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly21-Feb-20190.1785

 06-Nov-20180.1033
 22-May-20180.3899
 28-Jul-20170.2355
 21-Apr-20170.8315
 20-Oct-20150.1189
 07-Jul-20150.1780
 30-Mar-20150.3184
 30-Sep-20140.3117
Dividend Yearly22-May-20180.5795

 21-Apr-20171.0921
 30-Mar-20150.6304

Contact Information

AMC: IDBI Asset Management Ltd.

Address: 4th Floor, IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai - 400005

Phone: 022-66442800 / 1800-419-4324

Fax: 022-66442801

Email: [email protected]

Website: www.idbimutual.co.in

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016

Phone: 040-44857874

Email: [email protected]

Website: www.karvymfs.com

Upcoming Video

Investors' Hangout

Debt funds and the crisis

dateFriday, 29-May-2020
time12:30 PM - 01:00 PM