HDFC Credit Risk Debt Fund - Regular Plan

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Debt: Credit Risk

1 Lakh

Investment Grown to

₹ 1.09 Lakh

₹ 10000

Monthly SIP Grown to

₹ 1.26 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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Amount (₹)

Start date

End date

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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	0.87	0.06	0.34	0.96	2.43	4.52	9.15	6.76	7.99	--	--
CCIL T Bill Liquidity Weight	0.24	0.00	0.07	0.28	0.84	1.91	4.21	4.15	4.45	--	--
Debt: Credit Risk	-0.17	-0.01	0.20	-0.10	0.52	1.31	-0.26	3.34	6.44	--	--
Rank within category	2	4	3	1	3	3	4	3	3	--	--
Number of funds in category	20	20	20	20	20	20	20	17	13	7	2

As on 24-Jan-2020

Best & Worst Performance

	Best (Period)	Worst (Period)
Week	1.09 (09-Nov-2016 - 16-Nov-2016)	-0.86 (01-Dec-2016 - 08-Dec-2016)
Month	2.06 (04-Nov-2016 - 05-Dec-2016)	-1.17 (17-Apr-2018 - 17-May-2018)
Quarter	4.36 (07-Jul-2016 - 06-Oct-2016)	-0.39 (06-Apr-2018 - 06-Jul-2018)
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	6.66	1.85	0.51	0.83	3.84	7.24
CCIL T Bill Liquidity Weight	4.08	0.26	-6.21	-10.52	--	--
Debt: Credit Risk	3.83	4.18	-0.14	0.04	2.63	2.43
Rank within category	4	5	4	3	14	2
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	200	229	200	51
Modified Duration (yrs)	1.87	1.97	1.74	1.51
Average Maturity (yrs)	2.51	2.53	2.26	1.92
Yield to Maturity (%)	9.00	9.99	9.00	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
9.30% Tata International	Bonds	A+	4.10 - 4.81	4.81
9.10% Power Finance Corp. 23/03/2029	Non Convertible Debenture	AAA	0.00 - 2.74	2.74
8.45% Sikka Ports and Terminals 2023	Debenture	AAA	2.03 - 2.68	2.67
8.75% Muthoot Finance 19/06/2021	Bonds/NCDs	AA	1.89 - 2.59	2.59
2.00% Tata Steel 23/04/2022	Debenture	AA	1.93 - 2.46	2.46
Tata Sky 18/03/2020	Zero Coupon Bonds	AA	1.71 - 2.16	2.16
8.85% HDFC Bank 31/12/2099	Bonds	AA+	2.09 - 2.73	2.13
8.98% Punjab National Bank	Zero Coupon Bonds	A	0.00 - 2.04	2.04
7.85% Talwandi Sabo Power 2020	Structured Obligation	AA	1.93 - 2.25	1.96
Tata Power 2021	Bonds/NCDs	AA-	1.54 - 1.78	1.78
8.95% Jamnagar Utilities and Power 26/04/2023	Debenture	AAA	1.63 - 2.29	1.66
8.75% Vedanta 15/09/2021	Debenture	AA	1.35 - 1.60	1.60
9.25% Reliance Jio Infocomm 16/06/2024	Debenture	AAA	1.35 - 1.56	1.56
Tata Power 21/08/2072	Debenture	AA-	1.23 - 1.43	1.43
8.50% Vedanta 2021	Debenture	AA	1.16 - 1.37	1.37
9.55% Shriram City Union Finance 30/04/2021	Non Convertible Debenture	AA	0.00 - 1.34	1.34
8.95% Punjab National Bank	Bonds	A	0.00 - 1.09	1.09
8.97% REC 28/03/2029	Non Convertible Debenture	AAA	0.00 - 1.09	1.07
9.90% Coastal Gujarat Power 27/08/2028	Debenture	AA	0.89 - 1.06	1.06
9.55% Hindalco Inds. 25/04/2022	Bonds/NCDs	AA	0.48 - 0.96	0.96
Prism Johnson 22/06/2021	Zero Coupon Bonds	A	0.00 - 0.95	0.95
9.55% Hindalco Inds. 27/07/2022	Bonds/NCDs	AA	0.36 - 0.94	0.94
Shriram Transport Finance	Non Convertible Debenture	AAA	0.00 - 1.49	0.92
7.50% Tata Motors 22/06/2022	Debenture	AA-	0.00 - 0.91	0.91
9.70% Coastal Gujarat Power 27/08/2023	Non Convertible Debenture	AA	0.74 - 0.89	0.89

Indicates an increase or decrease or no change in holding since last portfolio
Indicates a new holding since last portfolio

As on 31-Dec-2019

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

0.08%

Change from previous, NAV as on 27-Jan-2020

Growth: ₹ 16.3767

Dividend Quarterly: ₹ 10.3581

Dividend: ₹ 15.0793

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

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

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

Fund House:	HDFC Mutual Fund
Launch Date:	25-Mar-2014
Return Since Launch:	8.80%
Benchmark:	NIFTY Credit Risk Bond
Riskometer:	Moderate
Type:	Open-ended
Assets:	₹ 14,475 Cr (As on 31-Dec-2019)
Expense:	1.47% (As on 31-Dec-2019)
Risk Grade:	Average
Return Grade:	Above Average

Plan

Record Date

Dividend (₹ / Unit)

Dividend Quarterly

26-Dec-2019

0.1743

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	25-Sep-2019	0.1577
	25-Jun-2019	0.1426
	25-Mar-2019	0.1401
	26-Dec-2018	0.2168
	25-Sep-2018	0.0533
	25-Jun-2018	0.0370
	26-Mar-2018	0.2889
	25-Sep-2017	0.3159
	27-Mar-2017	0.3051
	26-Sep-2016	0.4842
	28-Mar-2016	0.1560
	28-Sep-2015	0.3229
	25-Mar-2015	0.3397
	25-Sep-2014	0.3745

Fund News - 07-Oct-2019

Benchmark Changes in Schemes of HDFC Mutual Fund
Fund News - 16-Aug-2018

Renaming of Dividend Option of HDFC Credit Risk Debt Fund
Fund News - 28-Mar-2018

Name Change in Two Schemes of HDFC Mutual Fund
Fund News - 21-Aug-2017

Exit Load change in Three Funds of HDFC Mutual Fund
Fund News - 20-Jul-2016

Revision of exit load under HDFC MF schemes

HDFC Credit Risk Debt Fund - Regular Plan

₹ 1.09 Lakh

₹ 1.22 Lakh

₹ 1.47 Lakh

₹ 1.26 Lakh

₹ 4.03 Lakh

₹ 7.28 Lakh

Trailing Returns (%)

Best & Worst Performance

Risk Measures (%)

Portfolio Aggregates

Value Research Fund Style

Credit Rating vis-à-vis Category

Top Holdings

Fund Manager

0.08%

Investment Strategy

Investment Details

Basic Details

Most Recent Dividends

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