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||1.78||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 (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)|
|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
|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||--|
|Company||Instrument||Credit Rating||1Y Range||% Assets|
|9.21% Punjab National Bank||Bonds||A||0.00 - 31.17||31.17|
|7.99% Tata Power 16/11/2022||Debenture||AA||10.58 - 21.24||21.24|
|9.60% Hindalco Inds. 2022||Bonds/NCDs||AA||10.09 - 16.80||16.80|
|8.37% HUDCO 25/03/2029||Debenture||AAA||0.00 - 8.31||8.31|
|11.00% JK Cement 24/01/2021||Debenture||AA||5.07 - 9.99||6.63|
|8.50% Vedanta 2021||Debenture||AA||2.14 - 15.53||2.14|
|8.75% Axis Bank 28/06/2022||Bonds||AA+||1.07 - 2.10||2.10|
|9.25% Reliance Jio Infocomm 16/06/2024||Debenture||AAA||1.40 - 9.91||1.40|
|Yes Bank||Bonds/NCDs||D||0.00 - 0.00||0.00|
|8.90% Dewan Housing Fin. Corpn. 2021||Debenture||D||0.00 - 3.58||0.00|
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. 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.
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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.
|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|
|Fund House:||IDBI Mutual Fund|
|Return Since Launch:||3.05%|
|Benchmark:||NIFTY Credit Risk Bond|
|Assets:||₹ 46 Cr (As on 30-Apr-2020)|
|Expense:||1.38% (As on 30-Apr-2020)|
|Risk Grade:||Above Average|
|Return Grade:||Below Average|
|Plan||Record Date||Dividend (₹ / Unit)|
Fund News - 06-Nov-2019
AMC: IDBI Asset Management Ltd.
Address: 4th Floor, IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai - 400005
Phone: 022-66442800 / 1800-419-4324
Email: [email protected]
Registrar & Transfer Agent: KFin Technologies Pvt Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016
Email: [email protected]