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4 star

Axis Credit Risk Fund - Regular Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.08 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.24 Lakh

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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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 3.66 0.07 0.45 1.23 1.37 3.47 8.09 5.55 6.91 -- --
CCIL T Bill Liquidity Weight 2.02 0.02 0.05 0.25 0.87 1.95 4.02 4.18 4.33 -- --
Debt: Credit Risk -3.49 0.07 0.41 1.43 -2.15 -3.66 -1.22 0.91 3.85 -- --
Rank within category 5 10 4 12 10 5 6 6 6 -- --
Number of funds in category 19 19 19 19 19 19 19 17 15 6 3

As on 03-Jul-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Axis Credit Risk Fund - Regular Plan  | Invest Online
4 star
Jul-14 8.09 5.55 6.91 1.65 705
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 9.99 7.85 8.27 1.59 6,695
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
4 star
Mar-14 9.23 7.07 8.17 1.57 6,539
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 8.82 6.71 7.85 1.54 3,949
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 7.11 6.69 7.78 1.80 2,052

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.19 (24-Mar-2020 - 31-Mar-2020) -3.49 (03-Jun-2019 - 10-Jun-2019)
Month 2.42 (24-Mar-2020 - 23-Apr-2020) -3.23 (31-May-2019 - 01-Jul-2019)
Quarter 3.82 (25-Aug-2016 - 24-Nov-2016) -2.44 (02-Apr-2019 - 02-Jul-2019)
Year 11.10 (24-Nov-2015 - 24-Nov-2016) 2.25 (25-Mar-2019 - 24-Mar-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.35 2.81 0.02 0.01 0.48 0.64
CCIL T Bill Liquidity Weight 4.07 0.28 -4.34 -7.86 -- --
Debt: Credit Risk 1.18 6.40 -0.30 -0.09 -2.78 -7.53
Rank within category 6 6 6 6 15 5
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-Jun-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 42 91 42 27
Modified Duration (yrs) 1.90 1.90 1.50 1.56
Average Maturity (yrs) 2.40 2.40 1.80 1.91
Yield to Maturity (%) 9.16 10.86 9.05 9.39

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
new 7.32% GOI 28/01/2024 GOI Securities SOV 0.00 - 8.41 8.41
equal 9.95% Narmada Wind Energy Pvt. 31/03/2023 Debenture A+ 2.47 - 5.08 5.08
equal Essel Mining Industries 17/07/2022 Debenture AA- 0.00 - 5.02 5.02
new 6.19% GOI 16/09/2034 GOI Securities SOV 0.00 - 4.99 4.99
new 6.75% Power Finance Corp. 22/05/2023 Debenture AAA 0.00 - 4.98 4.98
equal 8.90% Vedanta 2021 Non Convertible Debenture AA 0.00 - 4.70 4.70
equal Bahadur Chand Investments 2024 Zero Coupon Bonds AA 0.00 - 4.26 4.26
equal Magma Fincorp 28/09/2023 Debenture AAA 2.87 - 4.23 4.23
down Embassy Office Parks REIT 2022 Non Convertible Debenture AAA 0.00 - 4.88 4.18
equal 9.10% India Grid Trust 2022 Debenture AAA 0.00 - 3.64 3.64
equal 9.50% Nirma Non Convertible Debenture AA- 0.00 - 3.49 3.49
equal Indostar Capital Finance 15/03/2021 Debenture AA- 0.00 - 3.48 3.48
equal Indiabulls Consumer Finance 2024 Securitised Debt AAA 0.00 - 3.29 3.29
equal 11.25% Hansdeep Industries & Trading 2021 Structured Obligation AA 0.00 - 2.86 2.86
equal 11.94% Ess Kay Fincorp 13/09/2022 Debenture A 0.00 - 2.85 2.85
equal 11.96% Northern ARC Capital 13/01/2022 Debenture A+ 0.00 - 2.85 2.85
equal 8.72% PVR 14/04/2023 Debenture AA 0.00 - 2.79 2.79
equal IndInfravit Trust 2038 Non Convertible Debenture AAA 0.00 - 2.43 2.43
equal India Infoline Finance 2020 Securitised Debt A1+ 0.00 - 2.27 2.27
equal 9.80% ECL Finance 31/12/2020 Debenture A+ 0.00 - 2.03 2.03
equal 9.45% Indostar Capital Finance 24/09/2021 Debenture AA- 0.82 - 1.79 1.79
equal 8.55% Talwandi Sabo Power 23/04/2021 Debenture AA 0.81 - 1.72 1.72
equal First Business Receivable Trust Securitised Debt AAA 0.00 - 1.71 1.71
down 9.15% Birla Corporation 18/08/2021 Debenture AA 1.70 - 4.18 1.70
down 8.28% Oriental Nagpur Betul Highway 30/09/2022 Debenture AAA 0.90 - 2.96 1.39

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-May-2020

Fund Manager

— Devang Shah since 25-Jun-2014

Education: Mr. Shah is B.Com and ACA.

Experience: Prior to joining Axis AMC he has worked with ICICI Prudential AMC, Deutsche Asset Management (India) Pvt. Ltd. and Pricewaterhouse Coopers.

Funds Managed:


0.07%

Change from previous, NAV as on 03-Jul-2020

Growth: ₹ 15.3841

Dividend Weekly: ₹ 10.1977

Dividend Monthly: ₹ 10.1464


Investment Strategy

The scheme seeks to generate stable returns by investing in debt & money market instruments across the yield curve & credit spectrum.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 100
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1
Exit Load For units in excess of 10% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: Axis Mutual Fund
Launch Date: 15-Jul-2014
Return Since Launch: 7.48%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 705 Cr (As on 31-May-2020)
Expense: 1.65% (As on 31-May-2020)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Weekly29-Jun-20200.0451

 22-Jun-20200.0372
 08-Jun-20200.0122
 01-Jun-20200.0124
 26-May-20200.0032
 20-Apr-20200.0080
 09-Mar-20200.0105
 02-Mar-20200.0006
 24-Feb-20200.0130
 17-Feb-20200.0167
 10-Feb-20200.0436
 03-Feb-20200.0192
 27-Jan-20200.0183
 20-Jan-20200.0060
 13-Jan-20200.0126
 06-Jan-20200.0144
 30-Dec-20190.0140
 23-Dec-20190.0117
 02-Dec-20190.0141
 25-Nov-20190.0138
 18-Nov-20190.0224
 03-Jun-20190.0071
 27-May-20190.0218
 20-May-20190.0106
 13-May-20190.0142
Dividend Monthly25-Jun-20200.0781

 26-May-20200.0571
 27-Apr-20200.0339
 25-Feb-20200.0542
 27-Jan-20200.0543
 26-Dec-20190.0306
 25-Nov-20190.0452
 27-May-20190.0534
 25-Apr-20190.0298
 25-Mar-20190.0641
 25-Feb-20190.0397
 25-Jan-20190.0517
 26-Dec-20180.0695
 26-Nov-20180.0526
 25-Oct-20180.0372
 27-Aug-20180.0503
 25-Jul-20180.0472
 25-Jun-20180.0375
 25-Apr-20180.0190
 26-Mar-20180.0474
 26-Feb-20180.0145
 25-Jan-20180.0226
 26-Dec-20170.0160
 27-Nov-20170.0456
 25-Oct-20170.0399

Contact Information

AMC: Axis Asset Management Company Ltd.

Address: "Axis House" - 1st Floor, C-2 - Wadia International Centre, Pandurang Budhkar Marg , Worli, Mumbai - 400025

Phone: 022-24255161

Fax: 022-43255199

Email: [email protected] / [email protected]

Website: http://www.axismf.com

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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