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5 star

IDFC Credit Risk Fund - Direct Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.08 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.24 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 4.57 -0.03 -0.17 -0.17 3.25 2.81 8.09 7.44 -- -- --
CCIL T Bill Liquidity Weight 2.20 -0.03 0.05 0.13 0.64 1.77 3.58 4.06 -- -- --
Debt: Credit Risk -1.71 0.05 0.05 0.57 3.55 -2.76 -0.12 1.81 -- -- --
Rank within category 8 19 19 18 12 9 8 4 -- -- --
Number of funds in category 19 19 19 19 19 19 19 17 15 6 0

As on 10-Aug-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 - Direct Plan
5 star
Mar-17 8.09 7.44 -- 0.66 836
ICICI Prudential Credit Risk Fund - Direct Plan  | Invest Now
5 star
Jan-13 10.67 8.72 9.21 0.96 6,556
HDFC Credit Risk Debt Fund - Direct Plan  | Invest Online
4 star
Mar-14 9.83 7.73 9.05 1.13 6,258
SBI Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 9.00 7.32 8.54 0.91 3,848
Kotak Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 8.10 7.69 8.94 0.76 1,949

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.49 (24-Mar-2020 - 31-Mar-2020) -1.77 (23-Apr-2020 - 30-Apr-2020)
Month 2.44 (24-Mar-2020 - 23-Apr-2020) -2.26 (25-Feb-2020 - 26-Mar-2020)
Quarter 4.22 (30-Apr-2020 - 31-Jul-2020) -0.69 (14-Feb-2020 - 15-May-2020)
Year 11.23 (27-Feb-2019 - 27-Feb-2020) 4.21 (04-Oct-2017 - 04-Oct-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 7.38 2.25 0.96 1.13 -0.14 1.99
CCIL T Bill Liquidity Weight 4.03 0.29 -4.08 -7.51 -- --
Debt: Credit Risk 2.22 6.74 0.01 0.18 -3.33 -6.96
Rank within category 4 3 2 3 15 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 31-Jul-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 22 62 22 27
Modified Duration (yrs) 2.71 2.71 2.03 1.69
Average Maturity (yrs) 3.58 3.58 2.74 2.37
Yield to Maturity (%) 6.98 8.47 6.89 9.28

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
down First Business Receivable Trust Securitised Debt AAA 0.17 - 0.62 9.03
equal Aditya Birla Fashion and Retail 2022 Debenture AA 0.00 - 8.46 8.46
equal 8.95% Reliance Industries 2028 Debenture AAA 3.30 - 6.87 6.87
equal 8.60% Afcons Infrastructure 2021 Debenture AA- 0.00 - 6.65 6.16
equal 8.45% Tata Power Renewable Energy 25/05/2022 Structured Obligation AA 1.60 - 6.10 6.04
equal 9.50% Indusind Bank Bonds AA 4.83 - 6.08 5.23
equal 8.05% HDFC 20/06/2022 Debenture AAA 0.00 - 5.06 5.04
equal 8.18% National Bank Agr. Rur. Devp 26/12/2028 Debenture AAA 2.28 - 4.69 4.69
equal 8.45% IRFC 2028 Debenture AAA 1.64 - 3.37 3.37
equal 8.23% IRFC 29/03/2029 Debenture AAA 1.62 - 3.34 3.34
equal 11.50% Tata Steel Debenture AA- 0.00 - 3.07 3.06
up 7.59% GOI 2026 GOI Securities SOV 0.00 - 2.64 2.64
equal 7.85% LIC Housing Fin. 23/09/2022 Debenture AAA 0.00 - 2.52 2.52
equal 8.30% IRFC 25/03/2029 Debenture AAA 0.98 - 2.01 2.01
equal 8.27% Nat. Highways Authority 28/03/2029 Debenture AAA 0.74 - 1.99 1.99
equal 7.49% Nat. Highways Authority 2029 Debenture AAA 0.00 - 1.90 1.90
equal 8.55% IRFC 21/02/2029 Non Convertible Debenture AAA 0.66 - 1.36 1.36
equal 8.35% IRFC 13/03/2029 Debenture AAA 0.65 - 1.34 1.34
equal 8.49% Nat. Highways Authority 2029 Non Convertible Debenture AAA 0.66 - 1.34 1.34
equal 8.36% Nat. Highways Authority 20/05/2029 Debenture AAA 0.33 - 0.67 0.67
equal 9.05% HDFC 20/11/2023 Debenture AAA 0.00 - 0.66 0.66
equal 7.99% Tata Power 16/11/2023 Bonds/NCDs AA 0.00 - 0.61 0.61

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-Jul-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 10-Aug-2020

Growth: ₹ 13.0097

Dividend Yearly: ₹ 10.5410

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Dividend Quarterly: ₹ 10.4682

Dividend Half Yearly: ₹ 10.4761

Dividend: ₹ 10.4758


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: 7.95%
Benchmark: Nifty AA Short Duration Bond (65), Nifty AAA Short Duration Bond (35)
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 836 Cr (As on 31-Jul-2020)
Expense: 0.66% (As on 31-Jul-2020)
Risk Grade: Below Average
Return Grade: High

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly26-Jun-20200.1023

 24-Mar-20200.0991
 26-Dec-20190.1619
 25-Sep-20190.1796
 25-Jun-20190.1677
 27-Mar-20190.1523
 27-Dec-20180.1719
 26-Sep-20180.0862
 26-Jun-20180.0411
 22-Mar-20180.0797
 21-Dec-20170.0787
 21-Sep-20170.1445
 27-Jun-20170.1733
Dividend24-Mar-20201.7457
Dividend Half Yearly24-Mar-20200.2771

 25-Sep-20190.3553
 27-Mar-20190.3517
 24-Sep-20180.1503
 20-Mar-20180.1317
 21-Sep-20170.3467
Dividend Yearly24-Mar-20200.5620

 27-Mar-20190.5047
 20-Mar-20180.5175

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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