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Aditya Birla Sun Life Credit Risk Fund - Direct Plan


1 Lakh

Investment Grown to
₹ 1.03 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.21 Lakh

Analyst's Choice?

Suitability:

Credit risk funds invest mainly in corporate bonds which are below the highest rating assigned 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 of all types of debt funds. However, they compensate for this additional risk with a higher return potential as these bonds offer better rates of interest than highest rated bonds. Moreover, investors can also benefit if the rating of these bonds is subsequently upgraded.

But like most other debt fund categories, we believe that retail investors can avoid this one as well. In our opinion, debt funds make sense for retail investors only if they are investing for 3 years or less. For that kind of investment horizon, Liquid Debt funds and Short Term debt funds are much more suitable.

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 paid by the mutual fund scheme are taxed at the rate of 25% (effectively 29.12%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT). Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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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 0.82 0.09 0.28 0.89 -0.92 0.07 3.42 6.54 -- -- --
CCIL T Bill Liquidity Weight* 0.28 0.03 0.11 0.28 0.84 1.89 4.22 4.14 -- -- --
Debt: Credit Risk* -0.15 0.04 0.23 -0.09 0.95 1.61 -0.07 3.57 -- -- --

As on 27-Jan-2020

* As on 28-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 1.09 (09-Nov-2016 - 16-Nov-2016) -3.47 (18-Nov-2019 - 25-Nov-2019)
Month 2.07 (26-Oct-2016 - 25-Nov-2016) -2.79 (25-Oct-2019 - 25-Nov-2019)
Quarter 4.34 (25-Aug-2016 - 24-Nov-2016) -3.08 (19-Sep-2019 - 19-Dec-2019)
Year 12.71 (24-Nov-2015 - 24-Nov-2016) 2.91 (15-Jan-2019 - 15-Jan-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.49 2.52 0.31 0.32 2.60 5.04
CCIL T Bill Liquidity Weight 4.08 0.26 -6.21 -10.52 -- --
Debt: Credit Risk 4.67 4.19 0.20 0.47 2.64 3.29

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

As on 31-Dec-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 118 145 117 51
Modified Duration (yrs) 1.56 1.87 1.35 1.51
Average Maturity (yrs) 1.99 2.50 1.79 1.92
Yield to Maturity (%) 11.20 14.07 10.89 9.77

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal SP Imperial Star 23/03/2022 Debenture A- 0.00 - 4.73 4.73
equal 6.99% Air India Assets Holdings 16/12/2022 Debenture AAA 0.00 - 3.27 3.27
equal 10.10% L&T Vadodara Bharuch Tollway 30/06/2021 Debenture A 2.12 - 3.16 3.16
equal 7.68% ONGC Petro Additions 18/05/2020 Structured Obligation AAA 1.88 - 2.80 2.80
equal 8.45% Power Finance Corp. 2022 Non Convertible Debenture AAA 0.00 - 2.78 2.78
equal 8.81% JM Financial Products 13/11/2020 Debenture AA 1.84 - 2.73 2.73
equal Asirvad Microfinance 31/03/2021 Debenture AA- 0.00 - 2.90 2.49
equal 8.90% State Bank of India 2028 Non Convertible Debenture AAA 1.49 - 2.28 2.28
equal 7.35% Power Finance Corp. 15/10/2022 Debenture AAA 0.00 - 1.87 1.87
new 8.40% JSW Energy 18/09/2020 Non Convertible Debenture AA- 0.00 - 1.86 1.86
new Reserve Bank of India 76-D 17/03/2020 Cash Management Bill SOV 0.00 - 1.85 1.85
down Adani Properties 27/04/2021 Debenture AA- 1.83 - 2.82 1.83
new Axis Bank 13/11/2020 Certificate of Deposit A1+ 0.00 - 1.77 1.77
new Axis Bank 18/12/2020 Certificate of Deposit A1+ 0.00 - 1.76 1.76
down 8.50% National Bank Agr. Rur. Devp Debenture AAA 0.77 - 3.33 1.75
equal 7.85% Bhopal Dhule Transmission 2022 Debenture AAA 1.08 - 1.59 1.59
equal 9.37% State Bank of India 21/12/2023 Debenture AA+ 1.33 - 1.91 1.54
equal 9.15% Coastal Gujarat Power 14/06/2021 Debenture AA 0.00 - 1.53 1.53
equal 7.61% HUDCO 22/06/2022 Debenture AAA 0.00 - 1.52 1.52
equal 7.62% HUDCO 15/07/2022 Debenture AAA 0.00 - 1.42 1.42
equal 6.90% REC 30/06/2022 Debenture AAA 0.00 - 1.39 1.39
equal 9.21% Punjab National Bank Bonds AA 0.91 - 1.38 1.38
equal Indusind Bank 28/03/2024 Non Convertible Debenture AA 0.00 - 1.30 1.30
equal 11.25% Syndicate Bank Bonds AA- 0.00 - 1.24 1.24
new 7.03% LIC Housing Fin. 28/12/2021 Non Convertible Debenture AAA 0.00 - 1.21 1.21

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-Dec-2019

Fund Manager

— Maneesh Dangi since 30-Mar-2015

Education: Mr. Dangi is an MBA and FRM.

Experience: Prior to joining Birla Sun Life Asset Management Company he has worked with Pioneer Investcorp.

Funds Managed:

— Sunaina da Cunha since 01-Apr-2017

Education: Ms. Cunha is a B.Com (H) and MBA from FMS, Delhi.

Experience: Prior to joining Birla Sun Life Asset Management Company, she has worked with Aditya Birla Management Corporation Ltd.

Funds Managed:


0.09%

Change from previous, NAV as on 27-Jan-2020

Growth: ₹ 14.5218

Dividend: ₹ 10.9310

Bonus: ₹ 14.5217


Investment Strategy

The scheme seeks to generate returns by predominantly investing in a portfolio of corporate debt securities with short to medium term maturities across the credit spectrum within the investment grade.

Investment Details

Minimum Investment (₹) 100
Minimum Addl Investment (₹) 100
Minimum SIP Investment (₹) 100
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1
Minimum Balance (₹) --
Exit Load For units in excess of 15% of the investment,3% will be charged for redemption within 365 days
For units in excess of 15% of the investment,2% will be charged for redemption between 366 - 730 days
For units in excess of 15% of the investment,1% will be charged for redemption between 731 - 1095 days

Basic Details

Fund House: Aditya Birla Sun Life Mutual Fund
Launch Date: 17-Apr-2015
Return Since Launch: 8.11%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 5,362 Cr (As on 31-Dec-2019)
Expense: 0.82% (As on 31-Dec-2019)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend31-Dec-20190.1225

 30-Sep-20190.1657
 25-Jun-20190.1657
 22-Mar-20190.1729
 21-Dec-20180.1729
 25-Sep-20180.1729
 22-Jun-20180.1873
 16-Mar-20180.1733
 22-Dec-20170.1733
 25-Sep-20170.1733
 27-Jun-20170.1733
 15-Mar-20170.1661
 30-Dec-20160.1661
 30-Sep-20160.1661

Contact Information

AMC: Aditya Birla Sun Life AMC Ltd.

Address: One India Bulls Center - Tower 1, 17th Floor - Jupiter Mills Compound, 841 Senapati Bhawan, Elphinstone Road, Mumbai - 400013

Phone: 022-43568000 / 1800-270-7000 / 1800-22-7000

Fax: 022-43568110

Website: mutualfund.adityabirlacapital.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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dateFriday, 31-Jan-2020
time12:30 PM - 01:00 PM