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IDFC Credit Risk Fund - Regular Plan

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Debt: Credit Risk

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1 Lakh

Investment Grown to
₹ 1.08 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 5.98 0.10 0.22 1.28 1.98 3.92 7.70 6.70 -- -- --
CCIL T Bill Liquidity Weight 2.74 0.03 0.07 0.27 0.61 1.26 3.37 3.98 -- -- --
Debt: Credit Risk -0.98 0.02 0.17 0.98 2.34 0.45 -0.26 0.95 -- -- --
Rank within category 7 1 7 6 13 9 6 5 -- -- --
Number of funds in category 18 18 18 18 18 18 18 16 15 6 3

As on 23-Oct-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
IDFC Credit Risk Fund - Regular Plan
4 star
 Mar-17 7.70 6.70 -- 1.61 795
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
 Dec-10 10.28 8.17 8.27 1.63 6,563
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
 Mar-14 10.04 7.48 8.21 1.68 6,189
SBI Credit Risk Fund  | Invest Online
4 star
 Jul-04 8.99 6.97 7.78 1.56 3,721
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
 May-10 6.24 6.75 7.64 1.77 1,905

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.48 (24-Mar-2020 - 31-Mar-2020) -1.79 (23-Apr-2020 - 30-Apr-2020)
Month 2.37 (24-Mar-2020 - 23-Apr-2020) -2.34 (25-Feb-2020 - 26-Mar-2020)
Quarter 3.99 (30-Apr-2020 - 31-Jul-2020) -0.92 (14-Feb-2020 - 15-May-2020)
Year 10.30 (27-Feb-2019 - 27-Feb-2020) 2.94 (04-Oct-2017 - 04-Oct-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.30 2.30 0.54 0.64 0.22 1.49
CCIL T Bill Liquidity Weight 3.90 0.32 -3.63 -6.95 -- --
Debt: Credit Risk 1.17 6.57 -0.17 0.01 -3.10 -7.48
Rank within category 5 3 5 4 15 3
Number of funds in category 17 17 17 17 17 17

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

As on 30-Sep-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 18 62 18 26
Modified Duration (yrs) 2.66 2.71 2.03 1.63
Average Maturity (yrs) 3.38 3.58 2.74 1.97
Yield to Maturity (%) 6.93 8.11 6.89 7.97
Avg Credit Rating AAA -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 7.17% GOI 2028 GOI Securities SOV 0.00 - 15.90 15.90
equal First Business Receivable Trust Securitised Debt AAA 0.17 - 0.65 9.54
equal Aditya Birla Fashion and Retail 2022 Debenture AA 0.00 - 8.99 8.99
equal 8.60% Afcons Infrastructure 2021 Debenture AA- 0.00 - 6.65 6.54
equal 8.45% Tata Power Renewable Energy 25/05/2022 Structured Obligation AA 1.60 - 6.44 6.44
equal 8.95% Reliance Industries 2028 Debenture AAA 3.30 - 6.87 6.41
equal 9.50% Indusind Bank Bonds AA 4.83 - 6.08 5.77
equal 8.05% HDFC 20/06/2022 Debenture AAA 0.00 - 5.28 5.28
equal 11.50% Tata Steel Debenture AA- 0.00 - 3.23 3.23
equal 7.59% GOI 2026 GOI Securities SOV 0.00 - 2.73 2.73
equal 7.85% LIC Housing Fin. 23/09/2022 Debenture AAA 0.00 - 2.64 2.64
equal 8.27% Nat. Highways Authority 28/03/2029 Debenture AAA 0.74 - 2.05 2.05
equal 7.49% Nat. Highways Authority 2029 Debenture AAA 0.35 - 1.96 1.96
equal 8.49% Nat. Highways Authority 2029 Non Convertible Debenture AAA 0.66 - 1.38 1.38
equal 8.23% IRFC 29/03/2029 Debenture AAA 1.35 - 3.34 1.37
equal 8.36% Nat. Highways Authority 20/05/2029 Debenture AAA 0.33 - 0.69 0.69
equal 9.05% HDFC 20/11/2023 Debenture AAA 0.00 - 0.69 0.69
equal 7.99% Tata Power 16/11/2023 Bonds/NCDs AA 0.00 - 0.65 0.65

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-Sep-2020

Fund Manager

— Arvind Subramanian since 14-Feb-2017

Education: Mr. Subramanian is a B.E (Electrical & Electronics Engineering ) and MBA ( Post Graduate Diploma in Management).

Experience: Prior to joining IDFC AMC he worked as a Senior Analyst at ICRA Limited ( Apr. 2009 - Aug. 2011

Funds Managed:

0.10%

Change from previous, NAV as on 23-Oct-2020

Growth: ₹ 12.8087

Dividend Yearly: ₹ 10.6593

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Dividend Quarterly: ₹ 10.3967

Dividend Half Yearly: ₹ 10.2397

Dividend: ₹ 10.6525

Investment Strategy

The Fund seeks to generate returns by predominantly investing AA and below rated corporate debt securities across maturities.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 6
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 1
Exit Load 1% for redemption within 365 days

Basic Details

Fund House: IDFC Mutual Fund
Launch Date: 03-Mar-2017
Return Since Launch: 7.03%
Benchmark: Nifty AA Short Duration Bond (65), Nifty AAA Short Duration Bond (35)
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 795 Cr (As on 30-Sep-2020)
Expense: 1.61% (As on 30-Sep-2020)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Half Yearly28-Sep-20200.3934

 24-Mar-20200.2364
 25-Sep-20190.3234
 27-Mar-20190.3164
 24-Sep-20180.1060
 20-Mar-20180.0898
 21-Sep-20170.3034
Dividend Quarterly28-Sep-20200.1323

 26-Jun-20200.1738
 24-Mar-20200.0843
 26-Dec-20190.1467
 25-Sep-20190.1648
 25-Jun-20190.1539
 27-Mar-20190.1396
 27-Dec-20180.1540
 26-Sep-20180.0662
 26-Jun-20180.0200
 22-Mar-20180.0591
 21-Dec-20170.0589
 21-Sep-20170.1300
 27-Jun-20170.1445
Dividend24-Mar-20201.4608
Dividend Yearly24-Mar-20200.5249

 27-Mar-20190.4212
 20-Mar-20180.4284

Contact Information

AMC: IDFC Asset Management Company Limited

Address: Unit No. 27, Ground Floor, Khetan Bhavan,198, Jamshedji Tata Road, Churchgate, Mumbai - 400020

Phone: 022-24398777 / 24399999 / 66289999

Fax: 24215052 / 24215051

Email: [email protected]

Website: http://www.idfcmf.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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