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JM Ultra Short Duration Fund - Regular Plan


1 Lakh

Investment declined to
₹ 0.98 Lakh

₹ 10000

Monthly SIP Declined to
₹ 1.19 Lakh

Analyst's Choice?

Suitability:

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:

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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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 0.80 0.01 0.08 0.53 1.28 -0.25 -2.35 3.46 5.55 6.55 7.24
CCIL T Bill Liquidity Weight 0.55 0.04 0.10 0.36 0.91 1.88 4.15 4.15 4.46 4.78 4.71
Debt: Ultra Short Duration 0.71 0.03 0.10 0.54 1.30 2.99 6.52 6.19 6.99 7.85 7.98
Rank within category 17 27 28 13 20 25 24 16 16 14 11
Number of funds in category 28 29 29 28 27 26 24 17 17 15 12

As on 20-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.58 (26-Mar-2008 - 02-Apr-2008) -5.16 (03-Jun-2019 - 10-Jun-2019)
Month 1.26 (06-Sep-2013 - 08-Oct-2013) -4.82 (03-Jun-2019 - 03-Jul-2019)
Quarter 2.98 (31-Jul-2013 - 30-Oct-2013) -3.95 (02-Apr-2019 - 02-Jul-2019)
Year 10.45 (16-Sep-2011 - 17-Sep-2012) -2.39 (29-Jan-2019 - 29-Jan-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 3.44 3.39 -0.66 -0.28 1.28 -0.17
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
Rank within category 18 18 18 18 9 18
Number of funds in category 19 19 19 19 19 19

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

As on 31-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 7 16 6 40
Modified Duration (yrs) -- -- -- 0.36
Average Maturity (yrs) 0.62 0.62 0.18 0.43
Yield to Maturity (%) 5.57 8.23 5.12 6.22

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal Bank of Baroda 17/03/2020 Certificate of Deposit A1+ 0.00 - 22.95 22.95
equal National Bank Agr. Rur. Devp 18/02/2020 Commercial Paper A1+ 0.00 - 19.20 19.20
new 7.10% Power Finance Corp. 2022 Bonds/NCDs AAA 0.00 - 9.66 9.66
new 7.35% Bajaj Finance 2022 Non Convertible Debenture AAA 0.00 - 9.63 9.63
equal Reliance Jio Infocomm 100-D 13/03/2020 Commercial Paper A1+ 0.00 - 7.65 7.65
equal ICICI Bank 20/03/2020 Certificate of Deposit A1+ 0.00 - 7.65 7.65
equal 8.58% HDFC 18/03/2022 Debenture AAA 0.00 - 1.58 1.58

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-Jan-2020

Fund Manager

— Vikas Agrawal since 27-Jul-2011

Education: Mr. Agarwal is a B.Com and PGDBM (Finance)

Experience: He has been associated with JM Financials since 2011.

Funds Managed:


0.01%

Change from previous, NAV as on 20-Feb-2020

Growth: ₹ 25.1762

Dividend Weekly: ₹ 10.1787

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Dividend Fortnightly: ₹ 9.8197

Dividend Daily: ₹ 9.6558

Bonus: ₹ 25.3961


Investment Strategy

The scheme seeks to generate stable long term returns with low risk strategy and capital appreciation/ accretion besides preservation of capital through investments in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 5,000
Exit Load 0

Basic Details

Fund House: JM Financial Mutual Fund
Launch Date: 27-Sep-2006
Return Since Launch: 7.13%
Benchmark: CRISIL Ultra ST Debt
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 26 Cr (As on 31-Jan-2020)
Expense: 0.98% (As on 30-Sep-2019)
Risk Grade: Above Average
Return Grade: Low

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily03-Jun-20190.0055

 31-May-20190.0018
 30-May-20190.0003
 29-May-20190.0017
 28-May-20190.0011
 27-May-20190.0055
 24-May-20190.0021
 23-May-20190.0032
 22-May-20190.0006
 21-May-20190.0006
 20-May-20190.0050
 17-May-20190.0019
 14-May-20190.0001
 13-May-20190.0018
 10-May-20190.0016
 09-May-20190.0014
 08-May-20190.0018
 07-May-20190.0022
 06-May-20190.0038
 02-May-20190.0022
 30-Apr-20190.0035
 26-Apr-20190.0011
 25-Apr-20190.0002
 24-Apr-20190.0011
 23-Apr-20190.0006
Dividend Fortnightly28-May-20190.0203

 14-May-20190.0130
 02-May-20190.0143
 16-Apr-20190.0135
 03-Apr-20190.0291
 19-Mar-20190.0209
 06-Mar-20190.0190
 20-Feb-20190.0220
 05-Feb-20190.0159
 22-Jan-20190.0207
 08-Jan-20190.0222
 26-Dec-20180.0239
 11-Dec-20180.0220
 27-Nov-20180.0228
 13-Nov-20180.0215
 30-Oct-20180.0172
 16-Oct-20180.0220
 03-Oct-20180.0192
 18-Sep-20180.0136
 04-Sep-20180.0171
 21-Aug-20180.0199
 07-Aug-20180.0200
 24-Jul-20180.0173
 10-Jul-20180.0218
 26-Jun-20180.0240
Dividend Weekly28-May-20190.0132

 21-May-20190.0079
 14-May-20190.0071
 07-May-20190.0063
 02-May-20190.0085
 23-Apr-20190.0063
 16-Apr-20190.0080
 09-Apr-20190.0061
 03-Apr-20190.0221
 26-Mar-20190.0080
 19-Mar-20190.0129
 12-Mar-20190.0088
 06-Mar-20190.0113
 26-Feb-20190.0084
 20-Feb-20190.0107
 12-Feb-20190.0120
 05-Feb-20190.0055
 29-Jan-20190.0109
 22-Jan-20190.0100
 15-Jan-20190.0115
 08-Jan-20190.0127
 01-Jan-20190.0104
 26-Dec-20180.0123
 18-Dec-20180.0125
 11-Dec-20180.0105

Contact Information

AMC: JM Financial Asset Management Ltd.

Address: Office B-8th Floor-Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025

Phone: 022-33797777 / 1800-103-8345

Fax: 022-26528388

Email: [email protected]

Website: www.JMFinancialmf.com

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016

Phone: 040-44857874

Email: [email protected]

Website: www.karvymfs.com

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