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3 star

IDFC Credit Risk Fund - Direct Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.07 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.23 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 2.93 0.03 0.20 0.71 1.56 3.17 6.55 8.13 -- -- --
CCIL T Bill Liquidity Weight 1.18 -0.01 0.05 0.20 0.55 1.09 2.12 3.48 -- -- --
Debt: Credit Risk 4.76 0.01 0.10 1.02 2.12 4.52 9.00 2.46 -- -- --
Rank within category 13 6 1 6 10 13 14 4 -- -- --
Number of funds in category 16 16 16 16 16 16 16 16 15 10 0

As on 03-Aug-2021

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
3 star
Mar-17 6.55 8.13 -- 0.66 846
HDFC Credit Risk Debt Fund - Direct Plan  | Invest Online
5 star
Mar-14 10.09 9.53 8.80 1.06 7,784
ICICI Prudential Credit Risk Fund - Direct Plan  | Invest Now
5 star
Jan-13 8.57 9.41 9.02 0.88 7,626
SBI Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 7.80 8.09 8.03 0.91 3,473
Kotak Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 7.71 8.21 8.19 0.74 1,785

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) 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 7.86 2.22 1.69 1.75 0.15 3.84
CCIL T Bill Liquidity Weight 3.44 0.39 -1.76 -4.38 -- --
Debt: Credit Risk 2.77 6.75 0.57 0.69 -3.97 -4.08
Rank within category 4 3 4 4 16 3
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-Jul-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 21 39 21 29
Modified Duration (yrs) 2.79 2.93 2.64 1.77
Average Maturity (yrs) 3.77 3.95 3.37 2.18
Yield to Maturity (%) 6.55 7.28 6.54 6.13
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 - 16.03 14.73
equal First Business Receivable Trust Securitised Debt AAA 0.36 - 0.67 8.14
equal 8.45% Tata Power Renewable Energy 25/05/2022 Structured Obligation AA 6.04 - 6.47 6.08
equal 8.95% Reliance Industries 2028 Debenture AAA 5.96 - 6.87 5.96
equal Bharti Hexacom 19/01/2024 Non Convertible Debenture AA 0.00 - 6.04 5.84
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.00 - 5.37 5.32
equal 8.60% Afcons Infrastructure 2021 Debenture A+ 0.00 - 6.34 5.17
equal 9.55% Hindalco Inds. 27/07/2022 Bonds/NCDs AA 0.00 - 5.13 4.94
equal 9.50% Indusind Bank Additional Tier 1 Bond AA 4.12 - 5.81 4.12
equal 5.22% GOI 15/06/2025 GOI Securities SOV 0.00 - 3.64 3.50
equal 8.50% Bank of Baroda Additional Tier 1 Bond AA 0.00 - 3.18 2.99
equal 7.59% GOI 2026 GOI Securities SOV 2.52 - 2.74 2.52
equal 8.44% Indian Bank Additional Tier 1 Bond AA 0.58 - 4.80 2.33
equal 8.27% Nat. Highways Authority 28/03/2029 Debenture AAA 1.91 - 2.08 1.92
equal 7.49% Nat. Highways Authority 2029 Debenture AAA 1.83 - 1.99 1.84
equal 8.49% Nat. Highways Authority 2029 Non Convertible Debenture AAA 1.29 - 1.40 1.29
equal 8.23% Indian Railway Finance Corporation 29/03/2029 Debenture AAA 1.27 - 3.34 1.28
equal 9.05% HDFC 20/11/2023 Debenture AAA 0.64 - 0.69 0.64
equal 8.36% Nat. Highways Authority 20/05/2029 Debenture AAA 0.64 - 0.70 0.64
equal 7.99% Tata Power Company 16/11/2023 Bonds/NCDs AA 0.61 - 0.65 0.62
equal 5.15% GOI 2025 GOI Securities SOV 0.00 - 0.60 0.58
equal Others Margin Money -- - 0.00

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-Jun-2021

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 03-Aug-2021

Growth: ₹ 13.8862

IDCW Yearly: ₹ 10.4083

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IDCW Quarterly: ₹ 10.4895

IDCW: ₹ 10.3438


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
Lock-in Period Not Applicable
Exit Load 1% for redemption within 365 days

Basic Details

Fund House: IDFC Mutual Fund
Launch Date: 03-Mar-2017
Return Since Launch: 7.71%
Benchmark: Nifty AA Short Duration Bond (65), Nifty AAA Short Duration Bond (35)
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 846 Cr (As on 30-Jun-2021)
Expense: 0.66% (As on 30-Jun-2021)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Quarterly28-Jun-20210.2546

 24-Dec-20200.2586
 28-Sep-20200.1574
 26-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
IDCW25-Mar-20210.8184

 24-Mar-20201.7457
IDCW Yearly24-Mar-20210.8212

 24-Mar-20200.5620
 27-Mar-20190.5047
 20-Mar-20180.5175
IDCW 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

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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