This is a fund that invests mainly in bonds whose rate of interest keeps changing with the prevailing interest rates in the economy. Given their investment mandate, such funds are usually less volatile in response to changing interest rates.
They can be a viable option for the fixed-income allocation in your portfolio. However, we believe that 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.
If you do decide to invest in them, remember that they are meant to deliver steady, but low to moderate returns and are not suitable to build wealth in the long run.
Taxability of earnings:
|CCIL T Bill Liquidity Weight||--||0.03||0.04||0.20||0.62||1.10||--||--||--||--||--|
|Rank within category||--||10||1||2||4||5||--||--||--||--||--|
|Number of funds in category||8||12||12||12||10||10||7||5||5||5||5|
As on 24-Sep-2021
|Fund name||Rating||Launch Date||1-Year Return||3-Year Return||5-Year Return||Expense Ratio||Assets (Cr)|
|DSP Floater Fund - Regular Plan||Mar-21||--||--||--||0.53||2,001|
|HDFC Floating Rate Debt Fund | Invest Online||Oct-07||6.00||7.85||7.47||0.48||22,077|
|Aditya Birla Sun Life Floating Rate Fund | Invest Online||Mar-09||4.95||7.60||7.36||0.42||21,707|
|Aditya Birla Sun Life Floating Rate Fund - Retail Plan | Invest Online||Jun-03||4.95||7.60||7.36||0.28||21,707|
|Nippon India Floating Rate Fund | Invest Online||Aug-04||6.08||8.77||7.44||0.57||18,784|
|Best Performance||Worst Performance|
|Return (%)||Period||Return (%)||Period|
|Week||0.50||13-Jul-2021 - 20-Jul-2021||-0.26||29-Jun-2021 - 06-Jul-2021|
|Month||1.01||06-Aug-2021 - 06-Sep-2021||-0.42||11-Jun-2021 - 13-Jul-2021|
|Quarter||1.73||22-Mar-2021 - 21-Jun-2021||0.86||08-Apr-2021 - 08-Jul-2021|
|CCIL T Bill Liquidity Weight*||3.37||0.39||-1.71||-4.34||--||--|
|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 31-Aug-2021
|Fund||1Y High||1Y Low||Category|
|Number of Securities||5||5||3||96|
|Modified Duration (yrs)||1.69||1.93||1.67||1.15|
|Average Maturity (yrs)||2.06||2.40||2.03||2.67|
|Yield to Maturity (%)||4.43||4.93||4.43||4.43|
|Avg Credit Rating||GOI/Cash||--||--||--|
|Company||Instrument||Credit Rating||1Y Range||% Assets|
|5.15% GOI 2025||GOI Securities||SOV||31.41 - 59.52||40.80|
|5.22% GOI 15/06/2025||GOI Securities||SOV||0.00 - 31.77||31.77|
|5.88% Gujarat State 31/03/2025||State Development Loan||SOV||11.46 - 18.89||13.59|
|6.69% Madhya Pradesh State 17/03/2025||State Development Loan||SOV||6.96 - 16.12||6.96|
|8.03% Gujarat State 16/04/2025||State Development Loan||SOV||0.00 - 2.78||2.78|
Indicates an increase or decrease or no change in holding since last portfolio
Indicates a new holding since last portfolio
As on 31-Aug-2021
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. Bagwe is a B.Com (H) and PGDBA (Finance)
Experience: Prior to joining DSP Mutual Fund he has worked with Derivium Capital and Securities Pvt. Ltd. and with Birla Sun Life Securities Ltd.
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The scheme seeks to generate regular income through investment predominantly in floating rate and fixed rate debt instruments (including money market instruments).
|Minimum Investment (₹)||500|
|Minimum Addl Investment (₹)||500|
|Minimum SIP Investment (₹)||500|
|Minimum No of Cheques||12|
|Minimum Withdrawal (₹)||500|
|Minimum Balance (₹)||--|
|Lock-in Period||Not Applicable|
|Fund House:||DSP Mutual Fund|
|Return Since Launch:||3.51%|
|Benchmark:||Crisil Short Term Gilt Index|
|Riskometer:||Low to Moderate|
|Assets:||₹ 2,001 Cr (As on 31-Aug-2021)|
|Expense:||0.53% (As on 31-Aug-2021)|
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]