| KOTAK LOW DURATION FUND
An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months.
A relatively high interest rate risk and moderate credit risk.
An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months.
A relatively high interest rate risk and moderate credit risk.
| KOTAK LOW DURATION FUND
An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months.
A relatively high interest rate risk and moderate 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 6.25% 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 low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months.
A relatively high interest rate risk and moderate credit risk.
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Investment Objective
The primary objective of the Scheme is to
generate income through investment
primarily in low duration debt & money
market securities. There is no assurance or
guarantee that the investment objective of
the scheme will be achieved.
The primary objective of the Scheme is to
generate income through investment
primarily in low duration debt & money
market securities. There is no assurance or
guarantee that the investment objective of
the scheme will be achieved.
| Issuer/Instrument | Industry/ Rating |
% to Net Assets |
|---|---|---|
| Reverse Repo | 1.10 | |
| Debt Instruments | ||
| Debentures and Bonds | ||
| Government Dated Securities | ||
| 8.51% Central Government | SOV | 6.52 |
| GS CG 19/03/2025 - (STRIPS) | SOV | 0.89 |
| 7.69% Central Government | SOV | 0.86 |
| GS CG 19/09/2025 - (STRIPS)(^) | SOV | 0.86 |
| GS CG 19/03/2026 - (STRIPS)(^) | SOV | 0.83 |
| GS CG 19/09/2026 - (STRIPS)(^) | SOV | 0.80 |
| GS CG 19/03/2028 - (STRIPS) | SOV | 0.35 |
| GS CG 19/09/2028 - (STRIPS) | SOV | 0.34 |
| 7.84% Tamil Nadu State Govt-Tamil Nadu | SOV | 0.02 |
| Government Dated Securities - Total | 11.47 | |
| Public Sector Undertakings | ||
| National Bank for Agriculture & Rural Development | CRISIL AAA | 3.11 |
| State Bank of India.(Basel III TIER II Bonds)(^) | CRISIL AAA | 2.56 |
| Rural Electrification Corporation Ltd. | CRISIL AAA | 2.37 |
| Power Finance Corporation Ltd. | CRISIL AAA | 1.64 |
| Small Industries Development Bank Of India | ICRA AAA | 0.28 |
| Public Sector Undertakings - Total | 9.96 | |
| Corporate Debt/Financial Institutions | ||
| HDFC Ltd. | CRISIL AAA | 7.24 |
| Embassy Office Parks REiT | CRISIL AAA | 4.61 |
| Muthoot Finance Ltd. (^) | ICRA AA+ | 2.63 |
| Bajaj Finance Ltd. | CRISIL AAA | 1.99 |
| Cholamandalam Investment And Finance Company Ltd. | ICRA AA+ | 1.53 |
| Tata Projects Ltd. (^) | FITCH IND AA | 1.41 |
| Kirloskar Ferrous Industries Ltd. | ICRA AA | 1.40 |
| India Grid Trust | CRISIL AAA | 1.36 |
| Mindspace Business Parks Reit | CRISIL AAA | 1.15 |
| HDB Financial Services Ltd. | CRISIL AAA | 1.14 |
| Bahadur Chand Investments Private Limited | ICRA AA | 1.14 |
| Sundaram Home Finance Ltd | CARE AA+ | 0.86 |
| Tata Capital Financial Services Limited | ICRA AAA | 0.85 |
| Shriram Finance Limited | FITCH IND AA+ | 0.74 |
| Hindustan Zinc Ltd. | CRISIL AAA | 0.68 |
| LIC Housing Finance Ltd. (^) | CRISIL AAA | 0.57 |
| Bharti Telecom Ltd. | CRISIL AA+ | 0.57 |
| Phoenix ARC Pvt Ltd | CRISIL AA | 0.56 |
| John Deere Financial India Private Limited | CRISIL AAA | 0.55 |
| DLF Cyber City Developers Ltd | CRISIL AA | 0.55 |
| PTC First Business Trust (Sr 24) 01/01/2026(First Business Receivables Trust) | CRISIL AAA(SO) | 0.53 |
| JM Financial Credit Solutions Ltd. | ICRA AA | 0.47 |
| Can Fin Homes Ltd.(^) | FITCH AA+(IND) | 0.29 |
| ICICI Home Finance Company Limited | CRISIL AAA | 0.28 |
| Poonawalla Fincorp Limited | CRISIL AAA | 0.17 |
| Godrej Industries Ltd(^) | CRISIL AA | 0.11 |
| Cholamandalam Investment And Finance Company Ltd.(^) | ICRA AA+ | 0.11 |
| Muthoot Finance Ltd. | CRISIL AA+ | 0.06 |
| Samvardhana Motherson International Ltd | FITCH AAA(IND) | 0.02 |
| Godrej Industries Ltd | CRISIL AA | 0.02 |
| Corporate Debt/Financial Institutions - Total | 33.59 | |
| Money Market Instruments | ||
| Commercial Paper(CP)/Certificate of Deposits(CD) | ||
| Public Sector Undertakings | ||
| Small Industries Development Bank Of India | CARE A1+ | 4.60 |
| National Bank for Agriculture & Rural Development | CRISIL A1+ | 3.76 |
| Indian Bank | CRISIL A1+ | 2.69 |
| Union Bank of India | ICRA A1+ | 2.48 |
| Union Bank of India | FITCH IND A1+ | 2.17 |
| Punjab National Bank | CRISIL A1+ | 2.15 |
| Bank of Baroda | FITCH IND A1+ | 1.37 |
| Union Bank of India | FITCH A1+(IND) | 1.08 |
| State Bank of India | FITCH A1+(IND) | 1.07 |
| Export-Import Bank of India | CRISIL AAA | 1.07 |
| Public Sector Undertakings - Total | 22.44 | |
| Corporate Debt/Financial Institutions | ||
| Axis Bank Ltd. | CRISIL A1+ | 4.35 |
| ICICI Bank Ltd. | CRISIL A1+ | 3.75 |
| Hindustan Zinc Ltd. | CRISIL A1+ | 3.54 |
| Piramal Enterprises Ltd. | CRISIL A1+ | 1.62 |
| HDFC Bank Ltd. | CRISIL A1+ | 1.11 |
| Indusind Bank Ltd. | CRISIL A1+ | 1.08 |
| HDFC Ltd. | CRISIL A1+ | 0.82 |
| Standard Chartered Capital Ltd. | CRISIL A1+ | 0.28 |
| Corporate Debt/Financial Institutions - Total | 16.55 | |
| Triparty Repo | 3.40 | |
| Net Current Assets/(Liabilities) | 1.49 | |
| Grand Total | 100.00 | |
| Monthly SIP of (₹) 10000 | Since Inception | 10 years | 7 years | 5 years | 3 years | 1 year |
| Total amount invested (₹) | 18,30,000 | 12,00,000 | 8,40,000 | 6,00,000 | 3,60,000 | 1,20,000 |
| Total Value as on May 31, 2023 (₹) | 32,58,060 | 16,83,093 | 10,36,626 | 6,88,686 | 3,87,222 | 1,24,282 |
| Scheme Returns (%) | 7.17 | 6.59 | 5.92 | 5.46 | 4.80 | 6.71 |
| Nifty Low Duration Debt Index B-I Returns (%) | 7.37 | 6.71 | 6.21 | 5.91 | 5.61 | 7.66 |
| Alpha | -0.20 | -0.12 | -0.28 | -0.45 | -0.80 | -0.95 |
| Nifty Low Duration Debt Index B-I (₹)# | 33,13,939 | 16,93,851 | 10,47,129 | 6,96,494 | 3,91,903 | 1,24,879 |
| Nifty Low Duration Debt Index Returns (%) | 7.24 | 6.55 | 6.03 | 5.69 | 5.38 | 7.39 |
| Alpha | -0.07 | 0.04 | -0.10 | -0.23 | -0.58 | -0.67 |
| Nifty Low Duration Debt Index (₹)# | 32,77,274 | 16,79,586 | 10,40,498 | 6,92,610 | 3,90,587 | 1,24,705 |
| CRISIL 1 Year T-Bill Index (₹)^ | 29,96,339 | 16,21,808 | 10,17,771 | 6,81,930 | 3,86,945 | 1,24,333 |
| CRISIL 1 Year T-Bill Index Returns (%) | 6.17 | 5.88 | 5.41 | 5.07 | 4.75 | 6.80 |
Scheme Inception : - March 06, 2008. 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
| Regular Plan-Growth Option | Rs2891.8485 |
| Direct Plan- Growth Option | Rs3103.188 |
| Monthly-Reg-Plan-IDCW | Rs1102.2801 |
| Monthly-Dir-Plan-IDCW | Rs1318.7129 |
Available Plans/Options
A) Regular Plan B) Direct Plan
Options: Payout of IDCW, Reinvestment of
IDCW & Growth (payout of IDCW is
available under monthly IDCW only)
(applicable for all plans)
| Fund Manager* | Mr. Deepak Agrawal,
Mr. Manu Sharma &
Mr. Vihag Mishra (Dedicated fund manager for investments in foreign securities) |
| Benchmark***: | Nifty Low Duration Debt Index B-I (Tier 1) Nifty Low Duration Debt Index (Tier 2) |
| Allotment date | March 6, 2008 |
| AAUM | Rs8,514.70 crs |
| AUM | Rs8,811.74 crs |
| Folio count | 87,391 |
IDCW Frequency
At discretion of trustees
Ratios
| Portfolio Average Maturity | 2.03 yrs |
| IRS Average Maturity* | -0.08 yrs |
| Net Average Maturity | 1.95 yrs |
| Portfolio Modified Duration | 1.03 yrs |
| IRS Modified Duration* | -0.07 yrs |
| Net Modified Duration | 0.95 yrs |
| Portfolio Macaulay Duration | 1.08 yrs |
| IRS Macaulay Duration* | -0.08 yrs |
| Net Macaulay Duration | 1.00 yrs |
| Annualised YTM* | 7.64% |
| $Standard Deviation | 0.54% |
*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.
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 for purchase and for Rs0.01
for switches.
Ideal Investment Horizon: 6-9 months
Load Structure
Entry Load: Nil.
Exit Load:
Nil.
Any exit load charged (net off Service Tax, if
any) shall be credited back to the Scheme;
Total Expense Ratio**
Regular: 1.17%; Direct: 0.42%
Data as on May 31, 2023
Fund
Benchmark
Benchmark
This product is suitable for investors who are seeking*:
- Regular Income over short term
- Income by focussing on low duration securities with portfolio Macaulay duration between 6 months and 12 months
* 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 6.25% 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'