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Invesco India Corporate Bond Fund


1 Lakh

Investment Grown to
₹ 1.11 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.26 Lakh

Analyst's Choice?

Suitability:

Corporate Bond funds have a narrow mandate of investing mainly in the highest rated corporate bonds.

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 0.75 0.08 0.30 0.80 1.97 5.01 11.05 5.45 6.83 7.25 7.73
VR Bond 0.39 0.06 0.22 0.53 1.41 1.87 8.01 6.19 6.99 7.43 7.23
Debt: Corporate Bond 0.67 0.06 0.29 0.78 1.91 4.17 8.21 6.42 7.35 7.85 7.80
Rank within category 6 3 9 7 7 3 5 12 10 7 3
Number of funds in category 20 20 20 20 20 20 18 14 13 9 6

As on 24-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 7.33 (11-Dec-2008 - 18-Dec-2008) -6.20 (02-Jan-2009 - 09-Jan-2009)
Month 11.35 (03-Dec-2008 - 02-Jan-2009) -6.16 (02-Jan-2009 - 03-Feb-2009)
Quarter 13.42 (03-Oct-2008 - 02-Jan-2009) -6.61 (05-Jan-2009 - 06-Apr-2009)
Year 17.51 (24-Nov-2015 - 24-Nov-2016) -7.42 (02-Jan-2009 - 04-Jan-2010)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.47 3.32 -0.08 -0.10 1.18 -0.71
VR Bond 6.11 2.14 0.18 0.33 -- --
Debt: Corporate Bond 6.35 2.59 0.59 1.09 0.61 0.40
Rank within category 12 11 12 12 13 12
Number of funds in category 14 14 14 14 14 14

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

As on 31-Dec-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 36 36 12 67
Modified Duration (yrs) 2.25 2.53 2.14 2.27
Average Maturity (yrs) 2.47 3.06 2.47 2.91
Yield to Maturity (%) 7.03 8.55 6.82 7.20

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 8.45% Power Finance Corp. 2022 Non Convertible Debenture AAA 0.00 - 8.20 7.50
up 7.29% SIDBI 2022 Debenture AAA 0.00 - 7.31 7.31
equal 7.17% Reliance Industries 2022 Non Convertible Debenture AAA 5.00 - 8.39 6.96
equal 9.95% Food Corporation of India 2022 Bonds AAA 0.00 - 8.08 4.88
equal 8.54% Bajaj Finance 2022 Debenture AAA 0.00 - 6.63 4.68
equal 8.34% HUDCO 2022 Debenture AAA 4.31 - 11.37 4.31
up 8.50% National Bank Agr. Rur. Devp Debenture AAA 3.84 - 5.71 4.20
equal 8.83% HDB Financial Services 2022 Debenture AAA 4.02 - 9.75 4.02
equal 7.87% Larsen & Toubro 18/04/2022 Non Convertible Debenture AAA 0.00 - 5.18 4.01
equal 8.69% LIC Housing Fin. 19/04/2022 Zero Coupon Bonds AAA 3.67 - 9.66 3.67
equal 8.58% HDFC 18/03/2022 Debenture AAA 0.00 - 5.93 3.36
new 8.02% Larsen & Toubro 22/05/2022 Non Convertible Debenture AAA 0.00 - 3.35 3.35
equal 8.59% Bajaj Housing Finance 2022 Bonds/Debentures AAA 0.00 - 4.83 3.34
equal Bajaj Housing Finance 2022 Debenture AAA 3.16 - 11.91 3.16
equal 9.35% REC 15/06/2022 Bonds AAA 0.00 - 2.67 2.05
equal 8.55% HDB Financial Services 17/06/2022 Non Convertible Debenture AAA 0.00 - 2.91 2.00
equal 7.45% REC 30/11/2022 Non Convertible Debenture AAA 0.00 - 2.16 1.97
up 6.99% HUDCO 2022 Debenture AAA 0.00 - 1.97 1.97
equal 7.09% REC 17/10/2022 Debenture AAA 0.00 - 2.14 1.95
equal 8.70% Reliance Jio Infocomm 18/07/2021 Debenture AAA 1.88 - 8.13 1.88
equal 7.90% National Bank Agr. Rur. Devp 18/04/2022 Non Convertible Debenture AAA 0.00 - 2.51 1.61
equal 8.50% LIC Housing Fin. 20/06/2022 Non Convertible Debenture AAA 0.00 - 2.09 1.61
equal 7.00% Reliance Industries 31/08/2022 Non Convertible Debenture AAA 0.96 - 1.93 1.57
equal 7.61% HUDCO 22/06/2022 Debenture AAA 0.00 - 1.86 1.53
equal 7.95% SIDBI 26/04/2022 Debenture AAA 0.00 - 2.10 1.35

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-Dec-2019

Fund Manager

— Sujoy Kumar Das since 09-Sep-2010

Education: Mr. Das is a B.Sc.(Economics) and PGDBA (Finance and International Business)

Experience: Prior to joining Invesco Mutual Fund he has worked with BOI AXA Mutual Fund, DSP Mutual Fund and HDFC Bank.

Funds Managed:


0.08%

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

Growth: ₹ 2,266.1233

Dividend Yearly: ₹ 1,992.9038

More

Dividend Quarterly: ₹ 1,134.7213

Dividend Monthly: ₹ 1,410.5375

Discretionary Dividend: ₹ 2,376.7445


Investment Strategy

The fund generates regular and stable income by investing predominantly in bonds issued by corporates. The scheme will invest in bonds which are rated AA+/ AAA by credit rating agencies.

Investment Details

Minimum Investment (₹) 1,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 100
Minimum No of Cheques 12
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) --
Exit Load 0

Basic Details

Fund House: Invesco Mutual Fund
Launch Date: 02-Aug-2007
Return Since Launch: 6.77%
Benchmark: CRISIL AAA ST Bond Index
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 764 Cr (As on 31-Dec-2019)
Expense: 0.60% (As on 31-Dec-2019)
Risk Grade: Above Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly15-Dec-201914.9496

 15-Sep-201916.1586
 14-Jun-201915.3380
 15-Mar-201921.4573
 14-Dec-201812.4872
 15-Sep-20176.0087
 15-Dec-201626.3448
 15-Sep-201617.6147
 15-Jun-201629.7192
 15-Mar-20164.2160
 15-Dec-201512.2663
 15-Sep-201512.0474
 15-Mar-201510.9998
 15-Dec-201418.1196
 15-Jun-201435.2664
 15-Jun-201326.9340
 15-Mar-20130.2519
 15-Dec-20120.2472
 14-Sep-20120.2308
 15-Jun-20120.2308
 15-Mar-20120.1917
 15-Dec-20110.1762
 15-Sep-20110.2807
 15-Jun-20110.1713
 15-Mar-20110.1399
Dividend Monthly28-Nov-20199.7134

 30-Oct-201919.0179
 27-Sep-201976.3350
 29-Aug-201960.8274
 30-Jul-201913.2592
 29-May-201324.8407
 26-Apr-201314.2018
 27-Feb-20130.0740
 30-Jan-20130.1252
 28-Dec-20120.0933
 29-Nov-20120.0300
 30-Oct-20120.0869
 27-Sep-20120.0905
 30-Aug-20120.0773
 30-Jul-20120.0917
 28-Jun-20120.0848
 30-May-20120.0326
 30-Mar-20120.0629
 28-Feb-20120.2707
 27-Jul-20110.0957
 29-Jun-20110.0088
 30-May-20110.0587
 28-Apr-20110.0606
 30-Mar-20110.0277
 25-Feb-20110.0473
Discretionary Dividend23-Jul-20120.0572

 27-Jun-20120.4519
Dividend Yearly15-Mar-20120.8109

 15-Mar-20110.3955
 15-Mar-20100.0140

Contact Information

AMC: Invesco Asset Management (India) Pvt. Ltd

Address: 2101 - A-A Wing - 21st Floor, Marathon Futurex, N.M. Joshi Marg, Lower Parel, Mumbai - 400013

Phone: 022-67310000 / 1800-209-0007

Fax: 022-23019422

Email: [email protected]

Website: www.invescomutualfund.com

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: Karvy House, No. 46, 8-2-609/K, Avenue 4, Street No.1 Banjara Hills, Hyderabad - 500034

Phone: 040-23312454

Email: [email protected]

Website: www.karvymfs.com

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