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Unrated

Mahindra Credit Risk Yojana - Regular Plan


1 Lakh

Investment Grown to
₹ 1.08 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.25 Lakh

Analyst's Choice?

Suitability:

Credit risk funds invest mainly in corporate bonds which are below the highest rating assigned 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 of all types of debt funds. However, they compensate for this additional risk with a higher return potential as these bonds offer better rates of interest than highest rated bonds. Moreover, investors can also benefit if the rating of these bonds is subsequently upgraded.

But like most other debt fund categories, we believe that retail investors can avoid this one as well. In our opinion, debt funds make sense for retail investors only if they are investing for 3 years or less. For that kind of investment horizon, Liquid Debt funds and Short Term debt funds are much more suitable.

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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(₹)
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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 1.53 -0.02 -0.02 1.12 1.79 3.98 8.08 -- -- -- --
CCIL T Bill Liquidity Weight 0.51 0.02 0.10 0.34 0.89 1.83 4.10 -- -- -- --
Debt: Credit Risk 0.51 0.01 -0.26 0.83 0.81 1.98 0.47 -- -- -- --
Rank within category 12 19 15 14 10 9 5 -- -- -- --
Number of funds in category 20 20 20 20 20 20 20 17 14 7 2

As on 18-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.64 (31-Jan-2020 - 07-Feb-2020) -0.40 (18-Sep-2018 - 25-Sep-2018)
Month 1.60 (01-Mar-2019 - 02-Apr-2019) -0.64 (27-Aug-2018 - 26-Sep-2018)
Quarter 2.62 (01-Mar-2019 - 03-Jun-2019) 0.69 (28-Aug-2018 - 27-Nov-2018)
Year 8.41 (06-Nov-2018 - 08-Nov-2019) 6.61 (30-Aug-2018 - 30-Aug-2019)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 4.06 0.27 -6.06 -10.48 -- --
Debt: Credit Risk* 3.44 4.43 -0.21 -0.02 2.67 2.06
Rank within category -- -- -- -- -- --
Number of funds in category -- -- -- -- -- --

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

As on

* As on 31-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 22 22 15 45
Modified Duration (yrs) 1.64 1.93 1.64 1.52
Average Maturity (yrs) 1.97 2.41 1.97 2.00
Yield to Maturity (%) 9.30 10.01 9.30 9.40

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal JM Fin Asset Reconstruction co 27/09/2021 Zero Coupon Bonds AA- 6.49 - 7.82 7.53
equal IIFL Home Finance 2021 Debenture AA 6.50 - 7.82 7.40
equal 9.70% Coastal Gujarat Power 27/08/2023 Non Convertible Debenture AA 6.18 - 7.62 6.95
equal Edelweiss Rural & Corporate Services 15/07/2021 Deep Discount Bonds AA- 0.00 - 6.93 6.93
equal Reliance Jio Infocomm 2023 Non Convertible Debenture AAA 6.02 - 7.36 6.89
equal 8.45% Sikka Ports and Terminals 2023 Debenture AAA 6.06 - 7.46 6.81
equal Tata Housing Devp. Co. 27/02/2020 Debenture AA 6.15 - 7.58 6.73
equal 9.50% Nayara Energy 29/07/2021 Bonds/NCDs AA 6.12 - 7.66 6.70
new 8.60% National Bank Agr. Rur. Devp 31/01/2022 Debenture AAA 0.00 - 3.49 3.49
equal 8.27% REC 2025 Bonds AAA 0.00 - 3.48 3.48
equal 12.00% Northern ARC Capital 25/06/2021 Debenture A+ 0.00 - 3.39 3.39
equal 10.50% Manappuram Finance 27/09/2022 Non Convertible Debenture AA 0.00 - 3.38 3.38
equal 8.75% Muthoot Finance 24/06/2020 Debenture AA 0.00 - 3.38 3.38
equal 10.15% Uttar Pradesh Power Corporation 20/01/2021 Debenture A+ 3.05 - 3.84 3.37
new 7.82% Godrej Properties 25/09/2020 Bonds/Debentures AA 0.00 - 3.37 3.37
down 7.26% GOI 14/01/2029 GOI Securities SOV 0.00 - 5.15 2.07
equal 11.43% Asirvad Microfinance 22/06/2020 Debenture AA- 0.00 - 3.30 1.68
equal 8.55% Power Finance Corp. 2021 Bonds AAA 0.00 - 1.32 1.32
down 9.50% Yes Bank Bonds BBB 0.00 - 1.83 1.07
new 7.57% GOI 17/06/2033 GOI Securities SOV 0.00 - 1.06 1.06
new 6.45% GOI 2029 GOI Securities SOV 0.00 - 1.00 1.00
new Reserve Bank of India 70-D 17/03/2020 Treasury Bills SOV 0.00 - 0.33 0.33

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

— Rahul Pal since 27-Jul-2018

Education: Mr. Pal is a B.Com (H) and Chartered Accountant.

Experience: Prior to joining Mahindra Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.

Funds Managed:


-0.02%

Change from previous, NAV as on 18-Feb-2020

Growth: ₹ 11.1106

Dividend Quarterly: ₹ 10.6998

Dividend: ₹ 11.1106


Investment Strategy

The Scheme seeks to generate regular returns and capital appreciation by investing predominantly in AA and below rated corporate bonds, debt, government securities and money market instruments while maintaining the optimum balance of yield, safety and liquidity.

Investment Details

Minimum Investment (₹) 1,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1
Exit Load For units in excess of 10% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: Mahindra Mutual Fund
Launch Date: 20-Aug-2018
Return Since Launch: 7.28%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 149 Cr (As on 31-Jan-2020)
Expense: 1.87% (As on 31-Jan-2020)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly20-Dec-20190.1441

 20-Sep-20190.1441

Contact Information

AMC: Mahindra Asset Management Company Private Limited

Address: 1st Floor - Sadhana House, Behind Mahindra Towers, 570 - P.B. Marg, Worli, Mumbai - 400018

Phone: 022-66327900

Email: [email protected]

Website: www.mahindramutualfund.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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dateFriday, 28-Feb-2020
time12:30 PM - 01:00 PM