| KOTAK CREDIT RISK FUND
An open ended debt scheme predominantly investing in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds).
A relatively high interest rate risk and relatively high credit risk.
An open ended debt scheme predominantly investing in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds).
A relatively high interest rate risk and relatively high credit risk.
| KOTAK CREDIT RISK FUND
An open ended debt scheme predominantly investing in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds).
A relatively high interest rate risk and relatively high credit risk.
*Interest Rate Swap
*in case of semi annual YTM, it will be annualized.
Source: $ICRAMFI Explorer. Standard
Deviation is calculated on Annualised basis
using 3 years history of monthly returns.
This product is suitable for investors who are seeking*:
(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 31 May 2023 is 4.55% of the net assets.
**Total Expense Ratio includes applicable B30 fee and GST.
***As per SEBI circular no. SEBI/HO/IMD/IMD-11 DF3/P/CIR/2021 /652 dated October 27, 2021; AMFI letter no. 35P/MEM-COR/70/2021-22 dated November 25, 2021 and AMFI letter no. 35P/ MEM-COR/ 131 / 2021-22 dated March 31, 2022 with effect from April 01, 2022 ("Effective date"), the first tier benchmark index of the scheme. Existing benchmark will be Second Tier benchmark for aforementioned scheme.
* For Fund Manager experience, please refer 'Our Fund Managers'
For last three IDCW, please refer 'Dividend History'.
For scheme performance, please refer 'Scheme Performances'
An open ended debt scheme predominantly investing in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds).
A relatively high interest rate risk and relatively high credit risk.
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Investment Objective
The investment objective of the scheme is to
generate income by investing in debt /and
money market securities across the yield
curve and predominantly in AA rated and
below corporate securities. The scheme
would also seek to maintain reasonable
liquidity within the fund. There is no
assurance that the investment objective of
the Schemes will be realised.
The investment objective of the scheme is to
generate income by investing in debt /and
money market securities across the yield
curve and predominantly in AA rated and
below corporate securities. The scheme
would also seek to maintain reasonable
liquidity within the fund. There is no
assurance that the investment objective of
the Schemes will be realised.
| Issuer/Instrument | Industry/ Rating |
% to Net Assets |
|---|---|---|
| Mutual Fund Units | ||
| Embassy Office Parks REIT | Realty | 4.39 |
| Brookfield India Real Estate Trust | Realty | 1.54 |
| Mutual Fund Units - Total | 5.93 | |
| Debt Instruments | ||
| Debentures and Bonds | ||
| Government Dated Securities | ||
| 8.51% Central Government(^) | SOV | 7.70 |
| 7.38% Central Government | SOV | 2.31 |
| 7.06% Central Government | SOV | 2.29 |
| Government Dated Securities - Total | 12.30 | |
| Public Sector Undertakings | ||
| Power Finance Corporation Ltd. | CRISIL AAA | 4.08 |
| U P Power Corporation Ltd ( Guaranteed By UP State Government ) | CRISIL A+(CE) | 3.79 |
| THDC India Ltd. (THDCIL) | CARE AA | 2.26 |
| Public Sector Undertakings - Total | 10.13 | |
| Corporate Debt/Financial Institutions | ||
| Aadhar Housing Finance Limited | CARE AA | 8.97 |
| Tata Power Company Ltd. | CARE AA | 8.95 |
| DLF Cyber City Developers Ltd | CRISIL AA | 8.88 |
| Bahadur Chand Investments Private Limited | ICRA AA | 6.84 |
| Tata Projects Ltd. | FITCH IND AA | 6.77 |
| Godrej Industries Ltd. | CRISIL AA | 6.70 |
| Vivriti Capital Private Limited | CARE A | 4.58 |
| JM Financial Products Limited | ICRA AA | 4.48 |
| Century Textiles & Industries Ltd. | CRISIL AA | 3.82 |
| AU Small Finance Bank Ltd. | CRISIL AA | 3.21 |
| Piramal Pharma Limited | CARE AA- | 2.71 |
| Corporate Debt/Financial Institutions - Total | 65.91 | |
| Triparty Repo | 0.13 | |
| Net Current Assets/(Liabilities) | 5.60 | |
| Grand Total | 100.00 | |
| Monthly SIP of (₹) 10000 | Since Inception | 10 years | 7 years | 5 years | 3 years | 1 year |
| Total amount invested (₹) | 15,70,000 | 12,00,000 | 8,40,000 | 6,00,000 | 3,60,000 | 1,20,000 |
| Total Value as on May 31, 2023 (₹) | 24,95,533 | 16,49,172 | 10,14,046 | 6,77,369 | 3,82,100 | 1,23,922 |
| Scheme Returns (%) | 6.80 | 6.20 | 5.30 | 4.80 | 3.92 | 6.14 |
| NIFTY Credit Risk Bond Index C-III Returns (%) | 9.20 | 8.95 | 8.65 | 8.74 | 8.39 | 10.44 |
| Alpha | -2.40 | -2.75 | -3.34 | -3.94 | -4.47 | -4.29 |
| NIFTY Credit Risk Bond Index C-III (₹)# | 29,59,238 | 19,05,375 | 11,42,338 | 7,47,617 | 4,08,399 | 1,26,620 |
| NIFTY Credit Risk Bond Index Returns (%) | 8.88 | 8.62 | 8.35 | 8.42 | 7.88 | 9.79 |
| Alpha | -2.08 | -2.42 | -3.04 | -3.61 | -3.96 | -3.65 |
| NIFTY Credit Risk Bond Index (₹)# | 28,92,607 | 18,72,557 | 11,30,252 | 7,41,539 | 4,05,344 | 1,26,217 |
| CRISIL 10 Year Gilt Index (₹)^ | 24,16,836 | 16,44,142 | 10,18,678 | 6,85,930 | 3,85,222 | 1,27,225 |
| CRISIL 10 Year Gilt Index (%) | 6.34 | 6.14 | 5.43 | 5.30 | 4.46 | 11.41 |
Scheme Inception : - May 11, 2010. The returns are calculated by XIRR approach assuming investment of ₹10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of
cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. The SIP Performance is for Regular Plan –
Growth Option Different plans have different expense structure.
# Benchmark ; ^ Additional Benchmark. Alpha is difference of scheme return with benchmark return.
NAV
| Growth Option | Rs25.2743 |
| Direct Growth Option | Rs27.8805 |
| Annual-Reg-Plan-IDCW | Rs10.9914 |
| Annual-Dir-Plan-IDCW | Rs20.9409 |
Available Plans/Options
A) Regular Plan B) Direct Plan
Options: Payout of IDCW, Reinvestment of
IDCW & Growth (applicable for all plans)
| Fund Manager* | Mr. Deepak Agrawal,
Mr. Sunit Garg &
Mr. Vihag Mishra (Dedicated fund manager for investments in foreign securities) |
| Benchmark*** | Nifty Credit Risk Bond
Index C-III (Tier 1) Nifty Credit Risk Bond Index (Tier 2) |
| Allotment date | May 11, 2010 |
| AAUM | Rs1,104.65 crs |
| AUM | Rs1,099.50 crs |
| Folio count | 10,825 |
IDCW Frequency
At discretion of trustees
Ratios
| Portfolio Average Maturity | 2.88 yrs |
| IRS Average Maturity* | 0.24 yrs |
| Net Average Maturity | 3.12 yrs |
| Portfolio Modified Duration | 1.68 yrs |
| IRS Modified Duration* | 0.20 yrs |
| Net Modified Duration | 1.88 yrs |
| Portfolio Macaulay Duration | 1.79 yrs |
| IRS Macaulay Duration* | 0.21 yrs |
| Net Macaulay Duration | 2.00 yrs |
| Annualised YTM* | 8.26% |
| $Standard Deviation | 1.38% |
*in case of semi annual YTM, it will be annualized.
Minimum Investment Amount
Initial Investment:Rs5000 and in multiple
of Rs1 for purchase and for Rs0.01 for switches
Additional Investment: Rs1000 & in multiples of Rs1
Ideal Investments Horizon: 3 year & above
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: a) For redemption / switch out of
upto 6% of the initial investment amount
(limit) purchased or switched in within 1
year from the date of allotment: Nil.
b) If units redeemed or switched out are in
excess of the limit within 1 year from the
date of allotment: 1%
c) If units are redeemed or switched out on
or after 1 year from the date of allotment:
NIL
Total Expense Ratio**
Regular: 1.70%; Direct: 0.74%
Data as on May 31, 2023
Fund
Benchmark
Benchmark
This product is suitable for investors who are seeking*:
- Income over a medium term investment horizon
- Investment predominantly in in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds)
* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
The above risk-o—meter is based on the scheme portfolio as on 31st May, 2023. An addendum may be issued or updated on the website for new riskometer.
(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 31 May 2023 is 4.55% of the net assets.
**Total Expense Ratio includes applicable B30 fee and GST.
***As per SEBI circular no. SEBI/HO/IMD/IMD-11 DF3/P/CIR/2021 /652 dated October 27, 2021; AMFI letter no. 35P/MEM-COR/70/2021-22 dated November 25, 2021 and AMFI letter no. 35P/ MEM-COR/ 131 / 2021-22 dated March 31, 2022 with effect from April 01, 2022 ("Effective date"), the first tier benchmark index of the scheme. Existing benchmark will be Second Tier benchmark for aforementioned scheme.
* For Fund Manager experience, please refer 'Our Fund Managers'
For last three IDCW, please refer 'Dividend History'.
For scheme performance, please refer 'Scheme Performances'