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4 star

Axis Credit Risk Fund - Direct 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
₹ 1.25 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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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 4.60 0.03 0.19 0.84 1.82 4.30 8.70 7.66 7.84 8.71 --
CCIL T Bill Liquidity Weight 1.18 -0.01 0.05 0.20 0.55 1.09 2.12 3.48 3.73 4.16 --
Debt: Credit Risk 4.76 0.01 0.10 1.02 2.12 4.52 9.00 2.46 4.36 7.20 --
Rank within category 7 4 2 2 8 5 7 6 6 5 --
Number of funds in category 16 16 16 16 16 16 16 16 15 10 0

As on 03-Aug-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 8.70 7.66 7.84 0.74 693
HDFC Credit Risk Debt Fund - Direct Plan  | Invest Online
5 star
 Mar-14 10.09 9.53 8.80 1.06 7,784
ICICI Prudential Credit Risk Fund - Direct Plan  | Invest Now
5 star
 Jan-13 8.57 9.41 9.02 0.88 7,626
SBI Credit Risk Fund - Direct Plan  | Invest Online
4 star
 Jan-13 7.80 8.09 8.03 0.91 3,473
Kotak Credit Risk Fund - Direct Plan  | Invest Online
4 star
 Jan-13 7.71 8.21 8.19 0.74 1,785

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 7.44 2.78 1.19 0.91 -0.52 2.95
CCIL T Bill Liquidity Weight 3.44 0.39 -1.76 -4.38 -- --
Debt: Credit Risk 2.77 6.75 0.57 0.69 -3.97 -4.08
Rank within category 6 6 6 6 13 6
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-Jul-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 49 49 40 29
Modified Duration (yrs) 1.43 2.10 1.10 1.77
Average Maturity (yrs) 1.87 2.80 1.60 2.18
Yield to Maturity (%) 6.81 8.55 6.79 6.13
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
up 2.00% Tata Steel 23/04/2022 Debenture AA 3.31 - 4.42 4.42
equal Bahadur Chand Investments 2024 Zero Coupon Bonds AA 4.34 - 5.41 4.34
up 7.59% GOI 2026 GOI Securities SOV 0.01 - 3.86 3.86
equal 9.10% India Grid Trust 2022 Debenture AAA 3.74 - 4.68 3.74
new 7.15% Flometallic India 20/06/2025 Non Convertible Debenture AA+ 0.00 - 3.62 3.62
equal 9.50% Nirma Perpetual Bond AA- 3.60 - 4.37 3.60
equal 9.95% Narmada Wind Energy Pvt. 31/03/2023 Debenture A+ 3.36 - 4.23 3.36
equal Embassy Office Parks REIT 2022 Non Convertible Debenture AAA 3.03 - 5.76 3.03
equal 6.92% Godrej Industries 14/05/2025 Debenture AA 0.00 - 3.21 2.89
equal 8.72% PVR 14/04/2023 Debenture AA- 0.00 - 3.18 2.84
up 8.75% NUVOCO Vistas Corp. 15/09/2021 Non Convertible Debenture AA 1.62 - 2.70 2.70
equal IIFL Finance 2021 Securitised Debt A1+ 0.00 - 3.32 2.63
equal IndInfravit Trust 2038 Non Convertible Debenture AAA 2.50 - 3.11 2.50
equal Tata Power Company Perpetual Bond AA 0.00 - 2.96 2.37
equal 7.32% GOI 28/01/2024 GOI Securities SOV 0.00 - 7.07 2.29
equal 7.25% NUVOCO Vistas Corp. 25/09/2023 Debenture AA 0.00 - 2.70 2.19
equal 7.50% Godrej Properties 31/07/2023 Zero Coupon Bonds AA 2.19 - 2.73 2.19
new 9.60% Aadhar Housing Finance 29/09/2021 Non Convertible Debenture AA 0.00 - 2.19 2.19
equal 8.25% DLF 25/03/2024 Debenture A+ 0.00 - 2.52 2.16
equal 7.36% JK Cement 23/07/2024 Debenture AA 2.16 - 2.70 2.16
new 7.15% Tata Motors Finance 25/06/2024 Non Convertible Debenture AA- 0.00 - 2.15 2.15
equal Bharti Hexacom 19/01/2024 Non Convertible Debenture AA 0.00 - 2.48 2.14
equal First Business Receivable Trust Securitised Debt AAA 2.00 - 2.39 2.00
equal 9.15% Birla Corporation 18/08/2021 Debenture AA 1.74 - 2.19 1.74
new 7.15% G R Infraprojects 31/05/2024 Debenture AA 0.00 - 1.72 1.72

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 30-Jun-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:

0.03%

Change from previous, NAV as on 03-Aug-2021

Growth: ₹ 18.0919

IDCW Weekly: ₹ 10.2496

IDCW Monthly: ₹ 10.1744

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: 8.76%
Benchmark: NIFTY Credit Risk Bond TRI
Riskometer: High
Type: Open-ended
Assets: ₹ 693 Cr (As on 30-Jun-2021)
Expense: 0.74% (As on 30-Jun-2021)
Risk Grade: Low
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Weekly02-Aug-20210.0195

 26-Jul-20210.0122
 19-Jul-20210.0292
 12-Jul-20210.0148
 05-Jul-20210.0009
 14-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
IDCW Monthly26-Jul-20210.0582

 25-Jun-20210.0718
 25-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

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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