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2 star

IDBI Credit Risk Fund - Direct Plan


Debt: Credit Risk

1 Lakh

Investment declined to
₹ 0.91 Lakh

₹ 10000

Monthly SIP Declined to
₹ 1.16 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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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund -7.12 0.05 0.14 0.82 5.38 -8.72 -9.15 -1.23 2.68 -- --
CCIL T Bill Liquidity Weight 2.20 -0.03 0.05 0.13 0.64 1.77 3.58 4.06 4.26 -- --
Debt: Credit Risk -1.71 0.05 0.05 0.57 3.55 -2.76 -0.12 1.81 4.64 -- --
Rank within category 16 10 4 4 3 16 17 15 13 -- --
Number of funds in category 19 19 19 19 19 19 19 17 15 6 0

As on 10-Aug-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
IDBI Credit Risk Fund - Direct Plan
2 star
Mar-14 -9.15 -1.23 2.68 0.67 38
ICICI Prudential Credit Risk Fund - Direct Plan  | Invest Now
5 star
Jan-13 10.67 8.72 9.21 0.96 6,556
HDFC Credit Risk Debt Fund - Direct Plan  | Invest Online
4 star
Mar-14 9.83 7.73 9.05 1.13 6,258
SBI Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 9.00 7.32 8.54 0.91 3,848
Kotak Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 8.10 7.69 8.94 0.76 1,949

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.70 (24-Mar-2020 - 31-Mar-2020) -13.23 (04-Mar-2020 - 11-Mar-2020)
Month 3.21 (29-Apr-2020 - 29-May-2020) -15.04 (25-Feb-2020 - 26-Mar-2020)
Quarter 6.63 (29-Apr-2020 - 29-Jul-2020) -14.03 (29-Jan-2020 - 29-Apr-2020)
Year 11.17 (11-Apr-2014 - 13-Apr-2015) -19.27 (30-Apr-2019 - 29-Apr-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -0.72 9.07 -0.66 -0.38 -9.28 -16.98
CCIL T Bill Liquidity Weight 4.03 0.29 -4.08 -7.51 -- --
Debt: Credit Risk 2.22 6.74 0.01 0.18 -3.33 -6.96
Rank within category 16 15 15 13 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 31-Jul-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 8 11 8 27
Modified Duration (yrs) 1.96 2.03 1.89 --
Average Maturity (yrs) 2.43 2.55 2.39 --
Yield to Maturity (%) 8.22 10.49 8.22 --

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 20.67 - 38.97 38.97
equal 7.99% Tata Power 16/11/2022 Debenture AA 13.81 - 26.53 26.53
equal 9.60% Hindalco Inds. 2022 Bonds/NCDs AA 11.12 - 21.05 21.05
equal 8.75% Axis Bank 28/06/2022 Bonds AA+ 1.41 - 2.68 2.68
equal 8.50% Vedanta 2021 Debenture AA 2.14 - 15.53 2.54
down 8.37% HUDCO 25/03/2029 Debenture AAA 0.00 - 8.89 1.48
equal 8.90% Dewan Housing Fin. Corpn. 2021 Debenture D 0.00 - 3.58 0.00
equal Yes Bank Bonds/NCDs D 0.00 - 0.00 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 31-Jul-2020

*As on 30-Jun-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:


0.05%

Change from previous, NAV as on 10-Aug-2020

Growth: ₹ 13.2403

Dividend Yearly: ₹ 10.1331

Dividend Quarterly: ₹ 9.0306


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: 4.42%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 38 Cr (As on 31-Jul-2020)
Expense: 0.67% (As on 30-Jun-2020)
Risk Grade: Above Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly21-Feb-20190.1923

 06-Nov-20180.1299
 22-May-20180.4985
 28-Jul-20170.3052
 21-Apr-20170.9376
 20-Oct-20150.1311
 07-Jul-20150.1348
 30-Mar-20150.3108
 30-Sep-20140.3507
Dividend Yearly22-May-20182.2136

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: http://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

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dateFriday, 14-Aug-2020
time12:30 PM - 01:00 PM