Ultra Short Duration debt funds invest in bonds maturing in 3 to 6 months' time. They aim to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit. The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.
Retail investors can avoid these funds altogether. Here's why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there's a different category of funds that invests in bonds of up to 3 months maturity, from the one that invests in bonds maturing in 3-6 months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don't need for up to the next one year in a Liquid fund.
Taxability of earnings:
|CCIL T Bill Liquidity Weight*||0.52||-0.03||0.04||0.28||0.83||1.77||4.03||4.10||4.46||4.76||4.71|
|Debt: Ultra Short Duration*||0.72||0.05||0.09||0.52||1.28||2.82||5.98||5.84||6.76||7.73||7.86|
As on 20-Feb-2020
* As on 24-Feb-2020
|Best (Period)||Worst (Period)|
|Week||0.56 (29-Aug-2013 - 05-Sep-2013)||-0.95 (17-Dec-2018 - 24-Dec-2018)|
|Month||1.51 (30-Aug-2013 - 01-Oct-2013)||-0.46 (27-Aug-2018 - 26-Sep-2018)|
|Quarter||3.30 (24-Jul-2013 - 23-Oct-2013)||0.69 (27-Jun-2018 - 26-Sep-2018)|
|Year||10.15 (24-Jul-2013 - 24-Jul-2014)||3.46 (30-Jun-2009 - 30-Jun-2010)|
|CCIL T Bill Liquidity Weight||4.06||0.27||-6.06||-10.48||--||--|
|Debt: Ultra Short Duration||6.14||1.64||1.35||3.07||1.48||2.85|
The Risk Measures have been calculated using calendar month returns for the last three years.
As on 31-Jan-2020
|Fund||1Y High||1Y Low||Category|
|Number of Securities||47||66||44||40|
|Modified Duration (yrs)||0.37||0.46||0.35||0.36|
|Average Maturity (yrs)||0.40||0.49||0.37||0.43|
|Yield to Maturity (%)||5.84||8.06||5.65||6.22|
|Company||Instrument||Credit Rating||1Y Range||% Assets|
|Bank of Baroda 2020||Certificate of Deposit||A1+||0.00 - 7.96||6.79|
|8.53% Power Finance Corp. 24/07/2020||Bonds/Debentures||AAA||0.00 - 5.57||5.57|
|Kotak Mahindra Bank 26/06/2020||Certificate of Deposit||A1+||0.00 - 3.98||3.98|
|Bajaj Finance 366-D 24/06/2020||Commercial Paper||A1+||0.00 - 4.09||3.97|
|6.87% REC 24/09/2020||Debenture||AAA||0.00 - 4.09||3.97|
|Axis Bank 24/07/2020||Certificate of Deposit||A1+||0.00 - 4.07||3.95|
|Kotak Mahindra Prime 264-D 20/07/2020||Commercial Paper||A1+||0.00 - 4.06||3.95|
|Axis Bank 29/04/2020||Certificate of Deposit||A1+||0.00 - 3.01||3.01|
|Export-Import Bank 180-D 27/05/2020||Commercial Paper||A1+||0.00 - 2.99||2.99|
|HDFC 337-D 26/05/2020||Commercial Paper||A1+||0.00 - 3.08||2.99|
|National Bank Agr. Rur. Devp 2020||Certificate of Deposit||A1+||0.00 - 3.08||2.99|
|Standard Chartered Invest&Loan 176-D 09/06/2020||Commercial Paper||A1+||0.00 - 2.24||2.18|
|7.78% LIC Housing Fin. 24/06/2020||Debenture||AAA||0.00 - 2.20||2.14|
|8.37% REC 14/08/2020||Bonds||AAA||0.00 - 2.14||2.08|
|6.83% REC 29/06/2020||Debenture||AAA||0.00 - 2.24||2.04|
|Tata Capital Financial Services 180-D 18/05/2020||Commercial Paper||A1+||0.00 - 2.05||2.00|
|Reliance Industries 166-D 05/05/2020||Commercial Paper||A1+||0.00 - 2.00||2.00|
|Indian Bank 2020||Certificate of Deposit||A1+||0.00 - 2.06||2.00|
|Axis Bank 29/06/2020||Certificate of Deposit||A1+||0.00 - 2.05||1.99|
|SIDBI 24/06/2020||Certificate of Deposit||A1+||0.00 - 2.05||1.99|
|Reliance Industries 179-D 29/05/2020||Commercial Paper||A1+||0.00 - 2.05||1.99|
|Indian Bank 15/07/2020||Certificate of Deposit||A1+||0.00 - 2.04||1.98|
|ICICI Bank 14/09/2020||Certificate of Deposit||A1+||0.00 - 3.03||1.96|
|Kotak Mahindra Bank 23/10/2020||Certificate of Deposit||A1+||0.00 - 3.34||1.95|
|Export-Import Bank 2020||Certificate of Deposit||A1+||0.00 - 1.99||1.94|
Indicates an increase or decrease or no change in holding since last portfolio
Indicates a new holding since last portfolio
As on 31-Jan-2020
Education: Mr. Karnik is a BE and has done his Masters in Management Studies from Jamnalal Bajaj Institute of Management Studies.
Experience: Prior to joining DSP Mutual Fund he was associated with Axis Asset Management. He has also worked with HSBC and CRISIL Ltd..
Education: Mr. Vakaria is CA and pursuing CFA Level II.
Experience: Prior to joining DSP Mutual Fund he has worked with Axis mutual Fund as a Fund Manager.
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The scheme aims to generate reasonable returns commensurate with low risk and a high degree of liquidity, from a portfolio constituted of money market securities and high quality debt securities.
|Minimum Investment (₹)||500|
|Minimum Addl Investment (₹)||500|
|Minimum SIP Investment (₹)||500|
|Minimum No of Cheques||6|
|Minimum Withdrawal (₹)||500|
|Minimum Balance (₹)||500|
|Fund House:||DSP Mutual Fund|
|Return Since Launch:||7.25%|
|Benchmark:||CRISIL Ultra ST Debt|
|Assets:||₹ 2,461 Cr (As on 31-Jan-2020)|
|Expense:||1.00% (As on 31-Jan-2020)|
|Return Grade:||Below Average|
|Plan||Record Date||Dividend (₹ / Unit)|
Fund News - 15-Jul-2016
AMC: DSP Investment Managers Pvt. Ltd.
Address: NATRAJ, Office No. 302-3rd Floor-Plot No. 194, MV Road Junction Western Express Highway, Andheri East Mumbai - 400069
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
Email: [email protected]