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JM Low Duration Fund


1 Lakh

Investment declined to
₹ 0.88 Lakh

₹ 10000

Monthly SIP Declined to
₹ 1.14 Lakh

Analyst's Choice?

Suitability:

Low Duration debt funds invest in bonds maturing in 6 months to 1 year 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 1.10 0.04 0.06 0.69 1.61 -4.52 -11.77 0.16 3.37 4.96 6.00
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: Low Duration 0.89 0.06 0.07 0.61 1.18 2.63 2.12 5.24 6.31 7.03 7.22
Rank within category 18 25 19 12 16 24 25 25 22 21 14
Number of funds in category 26 26 26 26 26 26 26 26 24 23 16

As on 24-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.54 (29-Mar-2016 - 05-Apr-2016) -10.13 (03-Jun-2019 - 10-Jun-2019)
Month 1.29 (11-Mar-2016 - 12-Apr-2016) -10.20 (10-May-2019 - 10-Jun-2019)
Quarter 2.92 (24-Jul-2013 - 23-Oct-2013) -9.51 (30-Apr-2019 - 30-Jul-2019)
Year 10.26 (16-Sep-2011 - 17-Sep-2012) -12.22 (29-Jan-2019 - 29-Jan-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 0.28 6.64 -0.81 -0.38 2.13 -1.96
CCIL T Bill Liquidity Weight 4.06 0.27 -6.06 -10.48 -- --
Debt: Low Duration 5.08 3.25 0.69 1.45 1.93 2.52
Rank within category 24 21 25 25 21 24
Number of funds in category 25 25 25 25 25 25

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 2 52
Modified Duration (yrs) -- -- -- 0.74
Average Maturity (yrs) 0.92 0.92 0.05 0.92
Yield to Maturity (%) 6.03 8.24 5.21 6.93

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal National Bank Agr. Rur. Devp 18/02/2020 Commercial Paper A1+ 0.00 - 17.94 17.41
new Reserve Bank of India 63-D 17/03/2020 Treasury Bills SOV 0.00 - 17.34 17.34
equal Bank of Baroda 17/03/2020 Certificate of Deposit A1+ 0.00 - 17.87 17.34
equal 8.58% HDFC 18/03/2022 Debenture AAA 0.00 - 17.24 16.52
new 7.10% Power Finance Corp. 2022 Bonds/NCDs AAA 0.00 - 8.76 8.76
new 7.35% Bajaj Finance 2022 Non Convertible Debenture AAA 0.00 - 8.73 8.73
equal 7.32% GOI 28/01/2024 GOI Securities SOV 0.00 - 0.94 0.90

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 24-Sep-2014

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

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

Funds Managed:


0.04%

Change from previous, NAV as on 24-Feb-2020

Growth: ₹ 23.1444

Dividend Weekly: ₹ 9.2208

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Dividend Fortnightly: ₹ 8.9599

Dividend Daily: ₹ 8.7513

Bonus: ₹ 13.9438


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 6 months - 12 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: 6.45%
Benchmark: CRISIL Low Duration Debt
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 29 Cr (As on 31-Jan-2020)
Expense: 0.44% (As on 30-Sep-2019)
Risk Grade: Above Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily10-May-20190.0021

 09-May-20190.0025
 02-May-20190.0019
 30-Apr-20190.0083
 26-Apr-20190.0082
 24-Apr-20190.0008
 23-Apr-20190.0011
 22-Apr-20190.0035
 16-Apr-20190.0017
 15-Apr-20190.0046
 12-Apr-20190.0012
 11-Apr-20190.0015
 10-Apr-20190.0026
 09-Apr-20190.0004
 02-Apr-20190.0046
 29-Mar-20190.0207
 28-Mar-20190.0036
 27-Mar-20190.0015
 26-Mar-20190.0047
 25-Mar-20190.0053
 22-Mar-20190.0014
 18-Mar-20190.0051
 15-Mar-20190.0019
 14-Mar-20190.0051
 13-Mar-20190.0021
Dividend Fortnightly02-May-20190.0244

 16-Apr-20190.0147
 03-Apr-20190.0432
 19-Mar-20190.0246
 06-Mar-20190.0229
 20-Feb-20190.0075
 05-Feb-20190.0159
 22-Jan-20190.0223
 08-Jan-20190.0243
 26-Dec-20180.0299
 11-Dec-20180.0261
 27-Nov-20180.0268
 13-Nov-20180.0238
 30-Oct-20180.0174
 16-Oct-20180.0220
 03-Oct-20180.0148
 18-Sep-20180.0103
 04-Sep-20180.0167
 21-Aug-20180.0202
 07-Aug-20180.0227
 24-Jul-20180.0187
 10-Jul-20180.0231
 26-Jun-20180.0286
 12-Jun-20180.0166
 29-May-20180.0169
Dividend Weekly02-May-20190.0202

 23-Apr-20190.0048
 16-Apr-20190.0122
 09-Apr-20190.0029
 03-Apr-20190.0296
 26-Mar-20190.0148
 19-Mar-20190.0122
 12-Mar-20190.0132
 06-Mar-20190.0149
 26-Feb-20190.0086
 20-Feb-20190.0097
 12-Feb-20190.0012
 29-Jan-20190.0124
 22-Jan-20190.0083
 15-Jan-20190.0146
 08-Jan-20190.0144
 01-Jan-20190.0106
 26-Dec-20180.0158
 18-Dec-20180.0150
 11-Dec-20180.0111
 04-Dec-20180.0158
 27-Nov-20180.0129
 20-Nov-20180.0146
 13-Nov-20180.0130
 06-Nov-20180.0115

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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