Ultra Short Duration debt funds invest in bonds maturing in 3 to 6 months' 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:
|Debt: Ultra Short Duration||0.17||0.05||-0.07||0.31||1.24||3.15||6.56||6.19||7.01||7.87||7.96|
|Rank within category||18||21||14||15||13||12||13||3||4||4||6|
|Number of funds in category||28||28||28||28||27||26||23||17||17||15||12|
As on 20-Jan-2020
|Best (Period)||Worst (Period)|
|Week||-- ( - )||-- ( - )|
|Month||1.76 (30-Aug-2013 - 01-Oct-2013)||-0.19 (24-Jun-2013 - 24-Jul-2013)|
|Quarter||3.44 (20-Aug-2013 - 19-Nov-2013)||0.86 (21-May-2013 - 20-Aug-2013)|
|Year||10.61 (20-Aug-2013 - 20-Aug-2014)||4.18 (17-Jun-2009 - 17-Jun-2010)|
|Debt: Ultra Short Duration||6.27||1.54||1.59||3.37||1.45||2.93|
|Rank within category||4||3||2||3||7||8|
|Number of funds in category||19||19||19||19||19||19|
The Risk Measures have been calculated using calendar month returns for the last three years.
As on 31-Dec-2019
|Fund||1Y High||1Y Low||Category|
|Number of Securities||13||16||10||40|
|Modified Duration (yrs)||0.03||0.04||0.03||0.37|
|Average Maturity (yrs)||0.44||0.50||0.39||0.45|
|Yield to Maturity (%)||5.73||9.19||5.59||6.25|
|Company||Instrument||Credit Rating||1Y Range||% Assets|
|9.49% Avendus Finance 31/01/2020||Debenture||A+||7.47 - 10.32||8.87|
|6.72% NTPC 24/11/2021||Bonds||AAA||0.00 - 8.60||8.60|
|9.34% M&M Financial Services 17/03/2020||Bonds/Debentures||AAA||0.00 - 8.59||8.59|
|7.65% National Housing Bank 25/03/2022||Debenture||AAA||0.00 - 8.57||8.57|
|HDFC 362-D 02/03/2020||Commercial Paper||A1+||0.00 - 8.46||8.46|
|ICICI Bank 2020||Certificate of Deposit||A1+||0.00 - 8.45||8.45|
|Export-Import Bank 25/03/2020||Certificate of Deposit||A1+||0.00 - 8.43||8.43|
|Indian Bank 2020||Certificate of Deposit||A1+||0.00 - 8.34||8.34|
|Axis Bank 28/10/2020||Certificate of Deposit||A1+||0.00 - 8.12||8.12|
|National Bank Agr. Rur. Devp 18/03/2020||Commercial Paper||A1+||0.00 - 7.09||7.09|
|REC 274-D 07/02/2020||Commercial Paper||A1+||0.00 - 6.79||6.79|
|8.35% REC 13/03/2022||Debenture||AAA||0.00 - 1.75||1.75|
|Power Finance Corp. 18/03/2023||Bonds||AAA||0.00 - 1.72||1.72|
Indicates an increase or decrease or no change in holding since last portfolio
Indicates a new holding since last portfolio
As on 31-Dec-2019
Education: Mr. Modani is Chartered Accountant
Experience: Prior to joining BOI AXA Mutual Fund, he has worked with Quantum Asset Management Company Private Limited and Pramerica Asset Managers Pvt. Ltd.
Education: Mr. Gupta is a BE and MBA.
Experience: Prior to joining BOI AXA Mutual Fund he has worked with PGIM India Mutual Fund as a Fund Manager.
Personal finance advice and mutual fund ideas delivered to your inbox every Monday
The fund aims to generate reasonable market related returns by investing in Money Market instruments. Also seeks to provide high liquidity to investors. The scheme would be investing more than 50% into instruments having maturity less than or equal to 1 year and rest having maturity more than 1 year with low /medium risk appetite.
|Minimum Investment (₹)||5,000|
|Minimum Addl Investment (₹)||1,000|
|Minimum SIP Investment (₹)||1,000|
|Minimum No of Cheques||6|
|Minimum Withdrawal (₹)||1,000|
|Minimum Balance (₹)||--|
|Fund House:||BOI AXA Mutual Fund|
|Return Since Launch:||7.86%|
|Assets:||₹ 293 Cr (As on 31-Dec-2019)|
|Expense:||0.58% (As on 31-Dec-2019)|
|Risk Grade:||Below Average|
|Return Grade:||Above Average|
|Plan||Record Date||Dividend (₹ / Unit)|
AMC: BOI AXA Investment Managers Private Ltd.
Address: B/204-Tower 1, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013
Email: [email protected]
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
Email: [email protected]