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4 star

Mahindra Manulife Credit Risk Fund - Regular Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.06 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 4.21 0.00 0.05 0.73 1.40 2.49 6.40 -- -- -- --
CCIL T Bill Liquidity Weight 2.47 -0.02 0.02 0.12 0.49 1.42 3.35 -- -- -- --
Debt: Credit Risk -1.87 0.03 0.16 1.01 2.06 -0.32 -0.58 -- -- -- --
Rank within category 9 16 15 15 14 12 8 -- -- -- --
Number of funds in category 18 18 18 18 18 18 18 16 15 6 3

As on 28-Sep-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Mahindra Manulife Credit Risk Fund - Regular Plan
4 star
Aug-18 6.40 -- -- 1.84 114
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 9.89 7.94 8.28 1.65 6,503
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 9.19 7.12 8.17 1.59 6,181
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 8.43 6.67 7.75 1.56 3,765
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 7.29 6.93 7.89 1.73 1,911

Best & Worst Performance

Best (Period) Worst (Period)
Week 2.05 (24-Mar-2020 - 31-Mar-2020) -1.37 (12-Mar-2020 - 19-Mar-2020)
Month 2.28 (24-Mar-2020 - 23-Apr-2020) -1.83 (25-Feb-2020 - 26-Mar-2020)
Quarter 2.90 (23-Mar-2020 - 22-Jun-2020) 0.02 (26-Dec-2019 - 26-Mar-2020)
Year 8.41 (06-Nov-2018 - 08-Nov-2019) 5.27 (27-Mar-2019 - 26-Mar-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 3.97 0.31 -3.79 -6.90 -- --
Debt: Credit Risk* 1.28 6.73 -0.23 -0.05 -3.11 -7.50
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-Aug-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 20 22 15 25
Modified Duration (yrs) 1.72 1.83 1.59 1.53
Average Maturity (yrs) 2.24 2.32 1.97 1.88
Yield to Maturity (%) 7.51 9.83 7.31 8.03
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 5.79% GOI 2030 GOI Securities SOV 0.00 - 11.63 11.63
equal Godrej Agrovet 163-D 18/09/2020 Commercial Paper A1+ 0.00 - 8.78 8.78
down Edelweiss Rural & Corporate Services 15/07/2021 Deep Discount Bonds A+ 0.00 - 8.73 7.08
equal JM Fin Asset Reconstruction co 27/09/2021 Zero Coupon Bonds AA- 4.98 - 9.49 5.25
equal 8.27% REC 2025 Bonds AAA 3.07 - 5.01 4.71
equal 8.60% National Bank Agr. Rur. Devp 31/01/2022 Debenture AAA 0.00 - 4.96 4.65
equal 7.40% Power Finance Corp. 30/09/2021 Bonds AAA 0.00 - 4.53 4.53
equal 10.50% Manappuram Finance 27/09/2022 Non Convertible Debenture AA 3.06 - 4.80 4.52
equal 7.82% Godrej Properties 25/09/2020 Bonds/Debentures AA 0.00 - 4.69 4.40
equal 8.79% IDFC First Bank 15/09/2020 Debenture AA 0.00 - 4.40 4.40
equal IDFC First Bank 2020 Certificate of Deposit A1+ 0.00 - 4.59 4.35
equal Northern ARC Capital 91-D 19/10/2020 Commercial Paper A1+ 0.00 - 4.34 4.34
new Transport Corporation 90-D 25/11/2020 Commercial Paper A1+ 0.00 - 4.34 4.34
equal 9.50% Nayara Energy 29/07/2021 Bonds/NCDs AA 4.07 - 8.00 4.23
equal IIFL Home Finance 2021 Debenture AA 2.96 - 9.30 3.11
equal 6.18% GOI 2024 GOI Securities SOV 0.00 - 2.45 2.27
equal 10.15% Uttar Pradesh Power Corporation 20/01/2021 Debenture A+ 2.12 - 3.50 2.20
equal 6.45% GOI 2029 GOI Securities SOV 0.00 - 3.33 1.78
equal 8.55% Power Finance Corp. 2021 Bonds AAA 1.19 - 1.87 1.75
equal 7.57% GOI 17/06/2033 GOI Securities SOV 0.00 - 1.55 1.44

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-Aug-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:


0.00%

Change from previous, NAV as on 28-Sep-2020

Growth: ₹ 11.4043

Dividend Quarterly: ₹ 10.3689

Dividend: ₹ 10.7811


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 Manulife Mutual Fund
Launch Date: 20-Aug-2018
Return Since Launch: 6.43%
Benchmark: NIFTY Credit Risk Bond
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 114 Cr (As on 31-Aug-2020)
Expense: 1.84% (As on 31-Aug-2020)
Risk Grade: Low
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly18-Sep-20200.1500

 19-Jun-20200.1500
 20-Mar-20200.2161
 20-Dec-20190.1441
 20-Sep-20190.1441
Dividend20-Mar-20200.4322

Contact Information

AMC: Mahindra Manulife Investment Management Private Limited

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

Phone: 022-66327900

Email: [email protected]

Website: http://www.mahindramanulife.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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