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HDFC Credit Risk Debt Fund - Regular Plan

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Debt: Credit Risk

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1 Lakh

Investment Grown to
₹ 1.09 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.26 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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Annual Returns
Quarterly Returns
Monthly Returns
Weekly Returns

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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 6.71 0.01 0.10 1.02 2.78 4.25 9.19 7.12 8.17 -- --
CCIL T Bill Liquidity Weight 2.47 -0.02 0.02 0.12 0.49 1.42 3.35 3.97 4.18 -- --
Debt: Credit Risk -1.87 0.03 0.16 1.01 2.06 -0.32 -0.58 0.78 3.77 -- --
Rank within category 2 13 11 10 9 6 2 2 2 -- --
Number of funds in category 18 18 18 18 18 18 18 16 15 6 3

As on 28-Sep-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
 Mar-14 9.19 7.12 8.17 1.59 6,181
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
 Dec-10 9.89 7.94 8.28 1.65 6,503
SBI Credit Risk Fund  | Invest Online
4 star
 Jul-04 8.43 6.67 7.75 1.56 3,765
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
 May-10 7.29 6.93 7.89 1.73 1,911
IDFC Credit Risk Fund - Regular Plan
5 star
 Mar-17 7.20 6.42 -- 1.59 813

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.37 (24-Mar-2020 - 31-Mar-2020) -1.75 (12-Mar-2020 - 19-Mar-2020)
Month 3.48 (10-Jun-2020 - 10-Jul-2020) -2.24 (25-Feb-2020 - 26-Mar-2020)
Quarter 5.44 (04-May-2020 - 03-Aug-2020) -0.89 (10-Feb-2020 - 11-May-2020)
Year 12.68 (24-Nov-2015 - 24-Nov-2016) 3.05 (31-Oct-2017 - 31-Oct-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.79 2.74 0.60 0.78 -0.59 0.95
CCIL T Bill Liquidity Weight 3.97 0.31 -3.79 -6.90 -- --
Debt: Credit Risk 1.28 6.73 -0.23 -0.05 -3.11 -7.50
Rank within category 2 5 2 2 12 4
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-Aug-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 92 207 92 25
Modified Duration (yrs) 2.06 2.20 1.78 1.53
Average Maturity (yrs) 2.85 3.07 2.31 1.88
Yield to Maturity (%) 9.79 10.90 8.47 8.03
Avg Credit Rating AA -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 8.95% Pipeline Infrastructure 22/03/2024 Non Convertible Debenture AAA 0.00 - 7.27 7.27
equal IndInfravit Trust 2038 Non Convertible Debenture AAA 0.00 - 5.73 5.73
equal 9.10% Power Finance Corp. 23/03/2029 Non Convertible Debenture AAA 0.11 - 5.00 4.99
equal 8.98% Punjab National Bank Zero Coupon Bonds A 1.99 - 4.39 4.33
equal 9.70% Shriram City Union Finance 2022 Non Convertible Debenture AA 0.00 - 4.24 4.24
equal 9.25% DLF 17/03/2023 Non Convertible Debenture A+ 0.00 - 4.06 4.06
equal 8.75% Vedanta 15/09/2021 Debenture AA 1.56 - 3.61 3.61
equal 8.50% Tata Motors 29/01/2027 Non Convertible Debenture AA- 0.00 - 3.20 3.19
equal 8.50% Tata Motors 30/12/2026 Non Convertible Debenture AA- 0.00 - 3.05 3.05
equal 9.50% DLF 17/03/2023 Non Convertible Debenture A+ 0.00 - 2.40 2.40
equal 8.50% Vedanta 2021 Debenture AA 1.35 - 2.38 2.38
down 9.55% Shriram City Union Finance 30/04/2021 Non Convertible Debenture AA 1.33 - 2.33 1.97
equal 8.75% Indiabulls Housing Finance 26/09/2021 Debenture AA 0.00 - 1.84 1.84
equal 8.95% Punjab National Bank Bonds A 1.07 - 2.37 1.76
equal Shriram Transport Finance Non Convertible Debenture AAA 0.80 - 1.62 1.58
equal JM Fin Asset Reconstruction co 27/09/2021 Zero Coupon Bonds AA- 0.55 - 1.47 1.47
equal 7.95% REC 2027 Bonds AAA 0.57 - 1.45 1.45
equal 8.20% Power Finance Corp. 2025 Bonds AAA 0.00 - 1.31 1.30
new Federal Bank 23/11/2020 Certificate of Deposit A1+ 0.00 - 1.28 1.28
equal 9.00% Reliance Jio Infocomm 21/01/2025 Debenture AAA 0.34 - 1.17 1.17
equal Magma Fincorp 27/10/2023 Zero Coupon Bonds AAA 0.64 - 1.29 1.16
equal 2.60% Sadbhav Infrastructure Project 15/04/2022 Structured Obligation A- 0.00 - 1.10 1.10
equal 2.60% Sadbhav Infrastructure Project 15/04/2021 Structured Obligation A- 0.00 - 1.10 1.10
new 7.50% PNB Housing Finance 15/09/2020 Debenture AA 0.00 - 1.05 1.05
equal JM Fin Asset Reconstruction co 15/09/2021 Zero Coupon Bonds AA- 0.37 - 0.97 0.97

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-Aug-2020

Fund Manager

— Shobhit Mehrotra since 06-Mar-2014

Education: He is an MBA from Clemson University, USA.

Experience: Prior to joining HDFC AMC he has worked with Templeton AMC, and ICRA.

Funds Managed:

Invest Online
0.01%

Change from previous, NAV as on 28-Sep-2020

Growth: ₹ 17.3116

Dividend Quarterly: ₹ 10.2867

Dividend: ₹ 15.9401

Investment Strategy

The scheme seeks to generate income/capital appreciation by investing predominantly in AA and below rated corporate debt.

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
Exit Load For units in excess of 15% of the investment,1% will be charged for redemption within 365 days
For units in excess of 15% of the investment,0.5% will be charged for redemption between 366 - 540 days

Basic Details

Fund House: HDFC Mutual Fund
Launch Date: 25-Mar-2014
Return Since Launch: 8.78%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 6,181 Cr (As on 31-Aug-2020)
Expense: 1.59% (As on 31-Aug-2020)
Risk Grade: Below Average
Return Grade: High

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly25-Jun-20200.1970

 18-Mar-20200.0785
 26-Dec-20190.1743
 25-Sep-20190.1577
 25-Jun-20190.1426
 25-Mar-20190.1401
 26-Dec-20180.2168
 25-Sep-20180.0533
 25-Jun-20180.0370
 26-Mar-20180.2889
 25-Sep-20170.3159
 27-Mar-20170.3051
 26-Sep-20160.4842
 28-Mar-20160.1560
 28-Sep-20150.3229
 25-Mar-20150.3397
 25-Sep-20140.3745

Contact Information

AMC: HDFC Asset Management Company Ltd

Address: "HDFC House"-2nd Floor, H.T. Parekh Marg - 165-166, Backbay Reclamation, Churchgate Mumbai - 400020

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 022-22821144

Website: http://www.hdfcfund.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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