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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
₹ 1.25 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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(₹)
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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 5.67 0.01 0.14 0.92 2.25 3.60 8.13 5.56 6.77 -- --
CCIL T Bill Liquidity Weight 2.47 0.00 0.03 0.12 0.49 1.42 3.34 3.95 4.16 -- --
Debt: Credit Risk -1.86 0.01 0.11 1.02 1.98 -0.31 -0.57 0.78 3.71 -- --
Rank within category 6 10 5 14 10 8 4 6 6 -- --
Number of funds in category 18 18 18 18 18 18 18 16 15 6 3

As on 29-Sep-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 8.13 5.56 6.77 1.67 593
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 9.87 7.94 8.21 1.65 6,503
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 9.18 7.12 8.10 1.59 6,181
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 8.41 6.66 7.68 1.56 3,765
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 7.26 6.93 7.83 1.73 1,911

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 5.34 2.83 0.07 0.06 0.13 0.35
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 7 6 7 7 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 31-Aug-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 41 83 37 25
Modified Duration (yrs) 1.60 2.10 1.50 1.53
Average Maturity (yrs) 2.80 2.80 1.80 1.88
Yield to Maturity (%) 8.18 10.86 8.10 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
new Reserve Bank of India 182-D 22/10/2020 Treasury Bills SOV 0.00 - 6.72 6.72
equal Essel Mining Industries 17/07/2022 Debenture AA- 2.57 - 5.97 5.97
equal Embassy Office Parks REIT 2022 Non Convertible Debenture AAA 0.00 - 5.27 5.27
equal Bahadur Chand Investments 2024 Zero Coupon Bonds AA 0.00 - 5.09 5.09
equal Magma Fincorp 28/09/2023 Debenture AAA 2.87 - 4.68 4.48
equal 9.10% India Grid Trust 2022 Debenture AAA 0.00 - 4.33 4.33
equal 9.50% Nirma Non Convertible Debenture AA- 0.00 - 4.11 4.11
equal 9.95% Narmada Wind Energy Pvt. 31/03/2023 Debenture A+ 2.70 - 5.65 3.98
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.00 - 3.44 3.44
equal 11.96% Northern ARC Capital 13/01/2022 Debenture A+ 0.00 - 3.40 3.40
equal 8.72% PVR 14/04/2023 Debenture AA 0.00 - 3.37 3.37
equal Indiabulls Consumer Finance 2024 Securitised Debt AAA 0.00 - 3.53 3.36
equal IndInfravit Trust 2038 Non Convertible Debenture AAA 0.00 - 2.90 2.90
equal Tata Power 21/08/2072 Debenture AA- 0.00 - 2.76 2.76
equal 7.50% India Infradebt 30/06/2025 Debenture AAA 0.00 - 2.53 2.53
equal 7.50% Godrej Properties 31/07/2023 Zero Coupon Bonds AA 0.00 - 2.51 2.51
equal 7.36% JK Cement 23/07/2024 Debenture AA 0.00 - 2.51 2.51
new 5.77% GOI 2030 GOI Securities SOV 0.00 - 2.47 2.47
equal First Business Receivable Trust Securitised Debt AAA 0.00 - 2.16 2.16
equal 9.45% Indostar Capital Finance 24/09/2021 Debenture AA- 0.92 - 2.14 2.14
equal 9.15% Birla Corporation 18/08/2021 Debenture AA 1.70 - 4.18 2.05
equal 8.55% Talwandi Sabo Power 23/04/2021 Debenture AA 0.90 - 2.05 2.05
new Muthoot Finance 2021 Non Convertible Debenture AA 0.00 - 1.74 1.74
equal 8.28% Oriental Nagpur Betul Highway 30/09/2022 Debenture AAA 1.00 - 2.96 1.70
equal 8.75% NUVOCO Vistas Corp. 15/09/2021 Non Convertible Debenture AA 0.00 - 1.70 1.70

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

— 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:

— Dhaval Patel since 04-Sep-2020

Education: Mr. Patel has done IBS from Hyderabad

Experience: Prior to joining Axis Mutual Fund he has worked with Credit Analysis & Research Ltd.

Funds Managed:


0.01%

Change from previous, NAV as on 29-Sep-2020

Growth: ₹ 15.6814

Dividend Weekly: ₹ 10.1669

Dividend Monthly: ₹ 10.1249


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: 7.51%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 593 Cr (As on 31-Aug-2020)
Expense: 1.67% (As on 31-Aug-2020)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Weekly28-Sep-20200.0198

 21-Sep-20200.0151
 14-Sep-20200.0034
 07-Sep-20200.0297
 31-Aug-20200.0168
 17-Aug-20200.0131
 10-Aug-20200.0040
 03-Aug-20200.0256
 27-Jul-20200.0085
 20-Jul-20200.0006
 13-Jul-20200.0437
 06-Jul-20200.0453
 29-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
Dividend Monthly25-Sep-20200.0555

 25-Aug-20200.0606
 27-Jul-20200.0996
 25-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

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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