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3 star

Baroda Credit Risk Fund- Plan A


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.02 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.26 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 1.40 -0.03 0.18 0.61 2.15 5.97 1.74 3.78 6.04 -- --
CCIL T Bill Liquidity Weight 0.29 0.01 0.01 0.18 0.43 1.07 2.84 3.75 3.97 -- --
Debt: Credit Risk 0.39 -0.03 0.01 0.03 0.94 3.74 -0.17 1.31 3.74 -- --
Rank within category 2 12 2 2 2 1 12 9 7 -- --
Number of funds in category 17 17 17 17 17 17 17 16 15 6 4

As on 26-Feb-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Baroda Credit Risk Fund- Plan A
3 star
Jan-15 1.74 3.78 6.04 1.83 202
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 7.78 8.47 8.49 1.59 7,007
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 8.81 8.41 8.39 1.71 6,848
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 7.40 7.24 7.71 1.55 3,632
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 4.53 7.02 7.55 1.75 1,850

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 2.25 24-Mar-2020 - 31-Mar-2020 -3.60 04-Mar-2020 - 11-Mar-2020
Month 2.30 24-Mar-2020 - 23-Apr-2020 -5.02 20-Apr-2020 - 20-May-2020
Quarter 5.21 05-Jun-2020 - 04-Sep-2020 -8.16 04-Mar-2020 - 03-Jun-2020
Year 12.23 26-Feb-2016 - 27-Feb-2017 -6.28 03-Jun-2019 - 02-Jun-2020

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 3.61 3.97 -0.27 -0.25 -3.08 -3.97
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 9 9 9 9 5 10
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 17 29 15 28
Modified Duration (yrs) 1.35 1.79 1.07 --
Average Maturity (yrs) 1.51 2.31 1.50 --
Yield to Maturity (%) 8.52 13.15 8.50 --
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 11.00% Motilal Oswal Home Finance 2026 Bonds A+ 8.77 - 17.21 12.17
down 9.18% Vedanta 2021 Debenture AA- 0.00 - 11.86 9.86
down 9.50% Indusind Bank Bonds AA 8.33 - 14.94 9.71
equal 8.90% Indiabulls Housing Finance 26/09/2021 Bonds AA 2.87 - 9.44 9.44
equal 8.84% Tata Power 21/11/2022 Non Convertible Debenture AA 3.04 - 8.80 8.80
equal 7.83% IRFC 21/03/2027 Bonds AAA 2.07 - 6.14 6.14
equal 10.00% Edelweiss Housing Finance 19/07/2026 Debenture A+ 0.00 - 5.45 5.45
equal Reserve Bank of India 182-D 18/03/2021 Treasury Bills SOV 0.00 - 4.94 4.94
equal Reliance Industries 327-D 15/06/2021 Commercial Paper A1+ 0.00 - 8.35 4.89
equal 8.35% Bharti Airtel 20/04/2021 Non Convertible Debenture AA 0.00 - 2.50 2.50
equal 8.15% National Bank Agr. Rur. Devp 28/03/2029 Non Convertible Debenture AAA 0.75 - 2.19 2.19
equal National Bank Agr. Rur. Devp 27/07/2021 Certificate of Deposit A1+ 0.00 - 7.49 1.46
equal 9.25% Dewan Housing Fin. Corpn. 2023 Debenture D 0.92 - 1.57 1.45
equal 7.90% National Bank Agr. Rur. Devp 18/04/2022 Non Convertible Debenture AAA 0.53 - 2.11 1.03
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.40 - 7.03 0.88
equal 9.30% Dewan Housing Fin. Corpn. 16/08/2026 Bonds/NCDs D 0.31 - 0.54 0.50
equal 6.68% GOI 17/09/2031 GOI Securities SOV 0.10 - 0.31 0.31

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

— Alok Sahoo since 08-Jan-2015

Education: Mr. Sahoo is a B.E and PGDM from XIM Bhubaneshwar.

Experience: Prior to joining Baroda AMC he has worked with UTI Mutual Fund and HSBC Mutual Fund.

Funds Managed:

— Karn Kumar since 24-Jul-2017

Education: Mr. Kumar is CA and B.com(Hons)

Experience: Prior to joining Baroda Pioneer Mutual Fund, he has worked with CRISIL Ltd, ICICI bank and Sterlite Industries ltd.

Funds Managed:


-0.03%

Change from previous, NAV as on 26-Feb-2021

Growth: ₹ 14.8635

Dividend Quarterly: ₹ 10.5458

Dividend Monthly: ₹ 10.3420


Investment Strategy

The Scheme seeks to generate returns by investing in debt and money market instruments across the credit spectrum.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 1
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: Baroda Mutual Fund
Launch Date: 23-Jan-2015
Return Since Launch: 6.71%
Benchmark: CRISIL Short Term Credit Risk
Riskometer: Moderately High
Type: Open-ended
Assets: ₹ 202 Cr (As on 31-Jan-2021)
Expense: 1.83% (As on 31-Jan-2021)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Monthly27-Feb-20200.0504

 27-Jan-20200.0504
 25-Oct-20190.0504
 27-Sep-20190.0504
 27-Aug-20190.0504
 26-Jul-20190.0504
 27-Jun-20190.0504
 27-May-20190.0504
 26-Apr-20190.0504
 27-Mar-20190.0504
 27-Feb-20190.0504
 25-Jan-20190.0504
 27-Dec-20180.0504
 27-Nov-20180.0504
 26-Oct-20180.0504
 27-Sep-20180.0504
 27-Aug-20180.0504
 27-Jul-20180.0504
 27-Jun-20180.0504
 25-May-20180.0504
 27-Apr-20180.0504
 27-Mar-20180.0506
 27-Feb-20180.0506
 25-Jan-20180.0506
 27-Dec-20170.0506
Dividend Quarterly24-Dec-20190.0360

 04-Oct-20190.0720
 27-Jun-20190.1080
 22-Mar-20190.1513
 26-Dec-20180.1513
 26-Sep-20180.1513
 02-Jul-20180.1513
 16-Mar-20180.1517
 29-Dec-20170.1517
 27-Sep-20170.1517
 30-Jun-20170.1517
 24-Mar-20170.1517
 30-Dec-20160.1300
 30-Sep-20160.1517
 24-Jun-20160.1517
 23-Mar-20160.1517
 30-Dec-20150.1517
 28-Sep-20150.1517
 26-Jun-20150.1517

Contact Information

AMC: Baroda Asset Management India Ltd

Address: 501, Raheja Titanium, Western Express Highway, Goregoan, (E) Mumbai - 400063

Phone: +91 22-3074 1000

Fax: +91 22-3074 1001

Email: [email protected]

Website: http://www.barodapioneer.in

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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