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4 star

Axis Credit Risk Fund - Direct Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.10 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 3.79 0.05 0.21 0.80 2.70 4.15 10.28 7.92 8.06 -- --
CCIL T Bill Liquidity Weight 0.86 0.02 0.05 0.20 0.51 0.97 2.16 3.59 3.79 -- --
Debt: Credit Risk 3.70 0.03 0.21 0.81 2.91 4.10 10.08 2.63 4.55 -- --
Rank within category 7 2 9 9 7 7 9 6 6 -- --
Number of funds in category 16 16 16 16 16 16 16 16 15 8 0

As on 14-Jun-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Axis Credit Risk Fund - Direct Plan
4 star
Jul-14 10.28 7.92 8.06 0.56 626
HDFC Credit Risk Debt Fund - Direct Plan  | Invest Online
5 star
Mar-14 13.33 9.77 9.10 1.10 7,631
ICICI Prudential Credit Risk Fund - Direct Plan  | Invest Now
5 star
Jan-13 10.99 9.70 9.33 0.90 7,443
SBI Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 9.66 8.40 8.28 0.91 3,497
Kotak Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 10.25 8.52 8.51 0.66 1,787

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 2.21 24-Mar-2020 - 31-Mar-2020 -3.46 03-Jun-2019 - 10-Jun-2019
Month 2.51 24-Mar-2020 - 23-Apr-2020 -3.12 31-May-2019 - 01-Jul-2019
Quarter 4.17 25-Aug-2016 - 24-Nov-2016 -2.11 02-Apr-2019 - 02-Jul-2019
Year 12.45 24-Nov-2015 - 24-Nov-2016 3.48 25-Mar-2019 - 24-Mar-2020

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 7.62 2.78 1.20 0.90 -0.57 2.89
CCIL T Bill Liquidity Weight 3.52 0.39 -2.00 -4.76 -- --
Debt: Credit Risk 2.84 6.70 0.56 0.66 -3.82 -4.41
Rank within category 6 6 6 6 13 5
Number of funds in category 16 16 16 16 16 16

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 31-May-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 46 46 37 29
Modified Duration (yrs) 1.39 2.10 1.10 1.65
Average Maturity (yrs) 1.65 2.80 1.60 2.13
Yield to Maturity (%) 6.79 8.71 6.79 6.38
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 Bahadur Chand Investments 2024 Zero Coupon Bonds AA 4.73 - 5.41 4.81
equal 9.10% India Grid Trust 2022 Debenture AAA 4.02 - 4.68 4.14
equal 9.50% Nirma Perpetual Bond AA- 3.84 - 4.37 3.99
equal 5.22% GOI 15/06/2025 GOI Securities SOV 0.00 - 4.00 3.98
equal 9.95% Narmada Wind Energy Pvt. 31/03/2023 Debenture A+ 3.74 - 5.65 3.74
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.00 - 3.79 3.44
down Embassy Office Parks REIT 2022 Non Convertible Debenture AAA 3.35 - 5.76 3.35
new 6.92% Godrej Industries 14/05/2025 Debenture AA 0.00 - 3.21 3.21
equal 8.72% PVR 14/04/2023 Debenture AA- 0.00 - 3.18 3.16
equal IIFL Finance 2021 Securitised Debt A1+ 0.00 - 3.32 3.02
equal IndInfravit Trust 2038 Non Convertible Debenture AAA 2.72 - 3.11 2.79
equal Tata Power Company Perpetual Bond AA 0.00 - 2.96 2.64
new 7.32% GOI 28/01/2024 GOI Securities SOV 0.00 - 12.75 2.55
equal 7.25% NUVOCO Vistas Corp. 25/09/2023 Debenture AA 0.00 - 2.70 2.44
equal 7.50% Godrej Properties 31/07/2023 Zero Coupon Bonds AA 0.00 - 2.73 2.42
equal 7.36% JK Cement 23/07/2024 Debenture AA 0.00 - 2.70 2.40
equal 8.25% DLF 25/03/2024 Debenture A+ 0.00 - 2.52 2.40
equal Bharti Hexacom 19/01/2024 Non Convertible Debenture AA 0.00 - 2.48 2.38
equal First Business Receivable Trust Securitised Debt AAA 1.96 - 2.39 2.22
equal 9.15% Birla Corporation 18/08/2021 Debenture AA 1.89 - 2.19 1.93
equal 11.25% Vivriti Capital 2022 Debenture A- 0.00 - 1.86 1.76
down 6.84% GOI 19/12/2022 GOI Securities SOV 0.00 - 8.80 1.66
equal 8.28% Oriental Nagpur Betul Highway 30/09/2022 Debenture AAA 1.55 - 1.85 1.64
equal 8.20% Aadhar Housing Finance 2023 Non Convertible Debenture AA 0.00 - 1.83 1.64
equal 8.41% Pune Solapur Expressways 30/03/2029 Debenture AA 0.00 - 1.83 1.64

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-2021

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.

Interviews:

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:


0.05%

Change from previous, NAV as on 14-Jun-2021

Growth: ₹ 17.9511

IDCW Weekly: ₹ 10.2461

IDCW Monthly: ₹ 10.2249


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
Lock-in Period Not Applicable
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: 8.82%
Benchmark: NIFTY Credit Risk Bond TRI
Riskometer: Moderately High
Type: Open-ended
Assets: ₹ 626 Cr (As on 31-May-2021)
Expense: 0.56% (As on 30-Apr-2021)
Risk Grade: Low
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Weekly14-Jun-20210.0215

 07-Jun-20210.0182
 31-May-20210.0174
 24-May-20210.0138
 17-May-20210.0162
 10-May-20210.0178
 03-May-20210.0216
 26-Apr-20210.0289
 19-Apr-20210.0147
 12-Apr-20210.0164
 05-Apr-20210.0261
 30-Mar-20210.0368
 22-Mar-20210.0223
 15-Mar-20210.0069
 08-Mar-20210.0166
 01-Mar-20210.0208
 22-Feb-20210.0036
 15-Feb-20210.0188
 08-Feb-20210.0007
 25-Jan-20210.0165
 11-Jan-20210.0138
 04-Jan-20210.0206
 28-Dec-20200.0184
 21-Dec-20200.0085
 14-Dec-20200.0116
IDCW Monthly25-May-20210.0619

 26-Apr-20210.0754
 25-Mar-20210.0400
 25-Feb-20210.0361
 25-Jan-20210.0736
 28-Dec-20200.0668
 25-Nov-20200.0684
 26-Oct-20200.0722
 25-Sep-20200.0684
 25-Aug-20200.0647
 27-Jul-20200.1073
 25-Jun-20200.0868
 26-May-20200.0667
 27-Apr-20200.0487
 25-Feb-20200.0610
 27-Jan-20200.0615
 26-Dec-20190.0396
 25-Nov-20190.0620
 25-Oct-20190.0251
 27-May-20190.0615
 25-Apr-20190.0375
 25-Mar-20190.0706
 25-Feb-20190.0467
 25-Jan-20190.0581
 26-Dec-20180.0758

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

Upcoming Video

Investors' Hangout

Your investment strategy for debt funds after the fiasco

DateFriday, 18-Jun-2021
Time12:30 PM - 01:00 PM