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2 star

PGIM India Credit Risk Fund - Regular Plan


Debt: Credit Risk

1 Lakh

Investment declined to
₹ 0.98 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 1.68 0.03 0.39 0.54 2.90 6.21 -2.26 2.30 4.73 -- --
CCIL T Bill Liquidity Weight 0.28 0.01 -0.01 0.20 0.45 1.09 2.87 3.74 3.97 -- --
Debt: Credit Risk 0.42 0.01 0.04 0.15 1.01 4.02 -0.19 1.30 3.80 -- --
Rank within category 1 5 1 3 1 2 13 10 9 -- --
Number of funds in category 17 17 17 17 17 17 17 16 15 6 4

As on 25-Feb-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
PGIM India Credit Risk Fund - Regular Plan
2 star
Sep-14 -2.26 2.30 4.73 1.76 48
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 7.83 8.46 8.55 1.59 7,007
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 8.87 8.33 8.45 1.71 6,848
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 7.39 7.21 7.75 1.55 3,632
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 4.35 6.98 7.59 1.75 1,850

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 5.26 26-Sep-2019 - 03-Oct-2019 -6.92 04-Mar-2020 - 11-Mar-2020
Month 6.05 25-Sep-2019 - 25-Oct-2019 -8.09 25-Feb-2020 - 26-Mar-2020
Quarter 6.76 24-Sep-2019 - 24-Dec-2019 -8.20 26-Feb-2020 - 27-May-2020
Year 11.98 01-Oct-2014 - 01-Oct-2015 -5.59 30-Apr-2019 - 30-Apr-2020

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 2.20 5.08 -0.49 -0.35 -3.53 -5.81
CCIL T Bill Liquidity Weight 3.72 0.36 -2.62 -5.07 -- --
Debt: Credit Risk 1.63 6.69 0.12 0.28 -3.25 -6.11
Rank within category 11 11 11 13 4 12
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-Jan-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 12 21 11 28
Modified Duration (yrs) 0.58 1.58 0.58 --
Average Maturity (yrs) 0.66 1.85 0.66 --
Yield to Maturity (%) 13.51 13.70 9.05 --
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 10.25% SD Corporation 17/04/2021 Debenture A- 0.00 - 22.43 22.43
equal 9.50% Nirma Non Convertible Debenture AA- 7.60 - 34.63 20.64
equal 10.50% Sunny View Estates 2021 Debenture BBB 0.00 - 17.84 17.84
equal 8.28% Oriental Nagpur Betul Highway 30/09/2021 Debenture AAA 1.53 - 10.51 10.51
new Reserve Bank of India 364-D 25/03/2021 Treasury Bills SOV 0.00 - 10.32 10.32
equal 9.35% REC 15/06/2022 Bonds AAA 0.00 - 9.90 9.90
equal 9.47% Shriram Transport Finance 2021 Non Convertible Debenture AA+ 2.36 - 7.27 7.27
equal 5.09% GOI 13/04/2022 GOI Securities SOV 0.00 - 2.10 2.10
equal 7.67% L&T Infrastructre Finance 18/03/2022 Non Convertible Debenture AAA 0.00 - 1.69 1.69
equal Canara Bank Debenture AA 0.00 - 0.43 0.43
equal 11.25% Hansdeep Industries & Trading 2021 Structured Obligation AA 0.00 - 0.42 0.42
equal 10.75% Dewan Housing Fin. Corpn. Debenture D 0.00 - 0.00 0.00

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-Jan-2021

Fund Manager

— Kumaresh Ramakrishnan since 08-Mar-2016

Education: Mr. Ramakrishnan is a B.E from Mumbai University and MBA from NMIMS (Mumbai).

Experience: Prior to joining PGIM India Mutual Fund he has worked with DWS AMC, Societe Generale and CARE.

Funds Managed:


0.03%

Change from previous, NAV as on 25-Feb-2021

Growth: ₹ 14.5626

Dividend Yearly: ₹ 11.8656

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Dividend Quarterly: ₹ 10.2244

Dividend Monthly: ₹ 9.9235


Investment Strategy

The Scheme seek to generate income and capital appreciation by investing predominantly in AA and below rated corporate debt (excluding AA+ rated corporate bonds).

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 5
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: PGIM India Mutual Fund
Launch Date: 29-Sep-2014
Return Since Launch: 6.03%
Benchmark: NIFTY Credit Risk Bond TRI
Riskometer: Very High
Type: Open-ended
Assets: ₹ 48 Cr (As on 31-Jan-2021)
Expense: 1.76% (As on 31-Jan-2021)
Risk Grade: Above Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Yearly27-Mar-20200.5042

 25-Mar-20190.6483
 23-Mar-20180.6500
 24-Mar-20170.0650
Dividend Monthly28-Feb-20200.0486

 31-Jan-20200.0486
 29-Nov-20190.0486
 25-Oct-20190.0396
 26-Apr-20190.0288
 29-Mar-20190.0396
 22-Feb-20190.0396
 25-Jan-20190.0396
 28-Dec-20180.0396
 30-Nov-20180.0504
 26-Oct-20180.0504
 28-Sep-20180.0504
 31-Aug-20180.0504
 27-Jul-20180.0504
 29-Jun-20180.0504
 25-May-20180.0504
 27-Apr-20180.0504
 23-Mar-20180.0506
 23-Feb-20180.0506
 25-Jan-20180.0506
 29-Dec-20170.0506
 24-Nov-20170.0506
 27-Oct-20170.0506
 29-Sep-20170.0506
 24-Aug-20170.0506
Dividend Quarterly26-Dec-20190.1008

 30-Sep-20190.0648
 25-Mar-20190.1080
 28-Dec-20180.1080
 28-Sep-20180.1080
 28-Jun-20180.1080
 23-Mar-20180.1589
 29-Dec-20170.1589
 28-Sep-20170.1589
 29-Jun-20170.1589
 24-Mar-20170.1589
 29-Dec-20160.1733
 29-Sep-20160.1733
 27-Jun-20160.1517
 28-Mar-20160.1517
 23-Dec-20150.1517
 24-Sep-20150.1517
 26-Jun-20150.1517
 27-Mar-20150.1524
 26-Dec-20140.0508
Dividend28-Jun-20190.1945

 25-Mar-20190.1945
 28-Dec-20180.1945
 28-Sep-20180.1945
 28-Jun-20180.1945
 23-Mar-20180.1950
 28-Dec-20170.1950
 28-Mar-20160.1517
 27-Mar-20150.1524

Contact Information

AMC: PGIM India Asset Management Pvt. Ltd.

Address: 2nd Floor - Nirlon House, Dr. Annie Besant Road, Worli, Mumbai - 400030

Phone: 022-61593000 / 1800-266-2667

Email: [email protected]

Website: https://www.pgimindiamf.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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dateFriday, 26-Feb-2021
time12:30 PM - 01:00 PM