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5 star

IDFC Credit Risk Fund - Regular Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.08 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.25 Lakh

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 4.05 0.03 0.61 1.98 3.15 3.71 8.15 6.75 -- -- --
CCIL T Bill Liquidity Weight 2.04 0.00 0.04 0.24 0.86 1.94 3.94 4.14 -- -- --
Debt: Credit Risk -2.75 0.05 0.74 1.89 -0.76 -3.03 -0.78 1.08 -- -- --
Rank within category 7 12 3 9 8 7 6 4 -- -- --
Number of funds in category 19 19 19 19 19 19 19 17 15 6 3

As on 09-Jul-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
5 star
Mar-17 8.15 6.75 -- 1.51 837
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 10.04 7.89 8.32 1.59 6,695
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
4 star
Mar-14 9.25 7.12 8.24 1.57 6,309
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 8.83 6.75 7.90 1.54 3,949
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 7.14 6.77 7.85 1.80 2,004

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 3.33 (26-Mar-2020 - 25-Jun-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 6.40 2.27 0.49 0.58 0.06 1.18
CCIL T Bill Liquidity Weight 4.07 0.28 -4.34 -7.86 -- --
Debt: Credit Risk 1.18 6.40 -0.30 -0.09 -2.78 -7.53
Rank within category 5 3 4 4 14 3
Number of funds in category 18 18 18 18 18 18

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

As on 30-Jun-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 22 62 22 25
Modified Duration (yrs) 2.62 2.62 2.03 --
Average Maturity (yrs) 3.54 3.54 2.74 --
Yield to Maturity (%) 7.52 8.71 7.52 --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal First Business Receivable Trust Securitised Debt AAA 0.17 - 0.58 8.93
equal Aditya Birla Fashion and Retail 2022 Debenture AA 0.00 - 8.15 8.15
equal 8.95% Reliance Industries 2028 Debenture AAA 3.30 - 6.58 6.58
equal 8.60% Afcons Infrastructure 2021 Debenture AA- 0.00 - 6.56 6.56
equal 8.45% Tata Power Renewable Energy 25/05/2022 Structured Obligation AA 1.60 - 5.93 5.93
down 9.50% Indusind Bank Bonds AA 4.83 - 6.08 5.69
equal 8.05% HDFC 20/06/2022 Debenture AAA 0.00 - 4.92 4.92
equal 8.18% National Bank Agr. Rur. Devp 26/12/2028 Debenture AAA 2.28 - 4.59 4.59
equal 8.45% IRFC 2028 Debenture AAA 1.64 - 3.31 3.31
equal 8.23% IRFC 29/03/2029 Debenture AAA 1.62 - 3.27 3.27
equal 11.50% Tata Steel Debenture AA- 0.00 - 3.03 3.03
equal 8.50% Vedanta 2021 Debenture AA 0.00 - 2.91 2.91
equal 7.85% LIC Housing Fin. 23/09/2022 Debenture AAA 0.00 - 2.44 2.44
equal 8.30% IRFC 25/03/2029 Debenture AAA 0.98 - 1.97 1.97
equal 8.27% Nat. Highways Authority 28/03/2029 Debenture AAA 0.74 - 1.95 1.95
equal 7.49% Nat. Highways Authority 2029 Debenture AAA 0.00 - 1.87 1.87
equal 8.55% IRFC 21/02/2029 Non Convertible Debenture AAA 0.66 - 1.33 1.33
equal 8.35% IRFC 13/03/2029 Debenture AAA 0.65 - 1.32 1.32
equal 8.49% Nat. Highways Authority 2029 Non Convertible Debenture AAA 0.66 - 1.32 1.32
equal 8.36% Nat. Highways Authority 20/05/2029 Debenture AAA 0.33 - 0.66 0.66
equal 9.05% HDFC 20/11/2023 Debenture AAA 0.00 - 0.64 0.64
equal 7.99% Tata Power 16/11/2023 Bonds/NCDs AA 0.00 - 0.59 0.59

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-May-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:


0.03%

Change from previous, NAV as on 09-Jul-2020

Growth: ₹ 12.5750

Dividend Yearly: ₹ 10.4647

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Dividend Quarterly: ₹ 10.3384

Dividend Half Yearly: ₹ 10.4438

Dividend: ₹ 10.4581


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: 7.07%
Benchmark: Nifty AA Short Duration Bond (65), Nifty AAA Short Duration Bond (35)
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 837 Cr (As on 31-May-2020)
Expense: 1.51% (As on 31-May-2020)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly26-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 Half Yearly24-Mar-20200.2364

 25-Sep-20190.3234
 27-Mar-20190.3164
 24-Sep-20180.1060
 20-Mar-20180.0898
 21-Sep-20170.3034
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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