| KOTAK CREDIT RISK FUND
An open-ended debt scheme predominantly investing in aa and below rated corporate bonds (excluding AA+ rated corporate bonds)
| KOTAK CREDIT RISK FUND
An open-ended debt scheme predominantly investing in aa and below rated corporate bonds (excluding AA+ rated corporate bonds)

  

  
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
Brookfield India Real Estate Trust Construction 0.84
Mutual Fund Units - Total 0.84
Debt Instruments
Debentures and Bonds
Government Dated Securities
7.20% State Government-Karnataka SOV 2.80
6.12% State Government-Karnataka SOV 2.65
6.57% State Government-Gujarat SOV 1.59
6.97% State Government-Maharashtra SOV 1.09
Government Dated Securities - Total 8.13
Public Sector Undertakings
Union Bank of India (Basel III TIER I Bonds) CARE AA- 8.59
Punjab & Sind Bank (Basel III TIER I Bonds) ICRA A- 7.03
Power Finance Corporation Ltd.(^) CRISIL AAA 4.86
U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(CE) 4.66
National Bank for Agriculture & Rural Development(^) ICRA AAA 1.35
National Highways Authority Of India(^) CRISIL AAA 0.56
Punjab National Bank (Basel III TIER II Bonds) CRISIL AA+ 0.29
Small Industries Development Bank Of India CARE AAA 0.25
National Bank for Agriculture & Rural Development CRISIL AAA 0.16
Public Sector Undertakings - Total 27.75
Corporate Debt/Financial Institutions
Talwandi Sabo Power Ltd. ( Unconditional and Irrevocable Corporate Guarantee of Vedanta Ltd.) CRISIL AA-(CE) 10.58
Tata Steel Ltd. CARE AA 9.19
Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) (^) CARE AA(CE) 5.99
L & T Infrastructure Finance Company Ltd.(^) CRISIL AAA 4.53
Bahadur Chand Investments Private Limited ICRA AA 4.10
Tata Projects Ltd. FITCH IND AA 2.79
Godrej Properties Limited(^) ICRA AA 2.74
Nuvoco Vistas Corporation Ltd. ( ) (^) CRISIL AA 2.70
Muthoot Finance Ltd.(^) ICRA AA 2.16
Dalmia Cement (Bharat) Ltd ( ) ICRA AA 0.72
Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) (^) CRISIL AAA 0.58
Reliance Industries Ltd. CRISIL AAA 0.54
SEI Enerstar Renewable Energy Pvt. Ltd. # CARE AA(CE) 0.43
Fullerton India Credit Co. Ltd. CRISIL AAA 0.19
Zuvan Energy Pvt. Ltd. # CARE AA(CE) 0.18
SEI Baskara Power Pvt. Ltd. # CARE AA(CE) 0.18
Divyesh Power Pvt. Ltd. # CARE AA(CE) 0.18
Shreyas Renwable Energy Pvt. Ltd. # CARE AA(CE) 0.18
Aashman Energy Pvt. Ltd. # CARE AA(CE) 0.18
Elena Renewable Energy Pvt. Ltd. # CARE AA(CE) 0.18
Aarish Solar Power Ltd. # CARE AA(CE) 0.18
Pratyash Renewable Pvt. Ltd. # CARE AA(CE) 0.18
Shriram City Union Finance Ltd. CARE AA 0.07
HDFC Ltd. CRISIL AAA 0.06
LIC Housing Finance Ltd. CRISIL AAA 0.05
JM Financial Credit Solutions Ltd. ICRA AA 0.01
Corporate Debt/Financial Institutions - Total 48.87
Treasury Bills
364 Days Treasury Bill 29/04/2021 SOV 0.54
Treasury Bills - Total 0.54
Triparty Repo 6.34
Net Current Assets/(Liabilities) 99.16
Net Current Assets/(Liabilities) 7.53
Net Current Assets/(Liabilities) 0.84
Grand Total 100.00

# (Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd.)

Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month
Monthly SIP of (₹) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Total amount invested (Rs) 13,00,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Total Value as on Feb 26, 2021 (Rs) 20,28,574 18,00,621 10,91,713 7,13,739 3,99,085 1,23,853
Scheme Returns (%) 7.94 7.88 7.39 6.90 6.85 6.13
NIFTY Credit Risk Bond Index Returns (%) 9.29 9.28 8.99 8.91 9.56 9.47
Alpha -1.35 -1.40 -1.61 -2.00 -2.71 -3.34
NIFTY Credit Risk Bond Index (Rs)# 21,92,248 19,38,138 11,55,931 7,50,292 4,15,311 1,25,920
CRISIL 10 Year Gilt Index (Rs)^ 19,45,848 17,50,734 10,89,040 7,12,826 4,03,787 1,20,790
CRISIL 10 Year Gilt Index (%) 7.22 7.35 7.32 6.85 7.64 1.25

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. # Benchmark ; ^ Additional Benchmark.
Alpha is difference of scheme return with benchmark return.
(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 31 Jan 2021 is 21.51% of the net assets.
NAV
Growth OptionRs23.1651
Direct Growth OptionRs24.9935
Weekly Dividend Rs10.0226
Direct Weekly Dividend Rs10.4254
Monthly Dividend Rs10.4979
Direct Monthly Dividend Rs10.5516
Quarterly Dividend Rs11.1858
Direct Quarterly Dividend Rs10.256
Annual Dividend Rs10.7187
Direct Annual Dividend Rs18.7725

Available Plans/Options

A) Regular Plan B) Direct Plan
Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)


Fund Manager Mr. Deepak Agrawal*
BenchmarkNifty Credit Risk Bond Index
Allotment dateMay 11, 2010
AAUMRs1,832.93 crs
AUMRs1,830.39 crs
Folio count16,068

Dividend Frequency

Weekly (Every Monday), Monthly (12th of every Month), Quarterly (20th of Mar, Jun, Sep and Dec of every Year), Annual (12th of March).


Ratios
Average Maturity1.78 yrs
Modified Duration1.28 yrs
Portfolio Yield6.99%
Macaulay Duration1.38 yrs
$Standard Deviation4.27%
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
Ideal Investments Horizon: 3 year & above


Load Structure

Entry Load: Nil. (applicable for all plans)
Exit Load: 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: 1.75%; Direct: 0.67%


Data as on February 28, 2021


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 advisers if in doubt about whether the product is suitable for them.


(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 28 Feb 2021 is 21.86% of the net assets.
**Total Expense Ratio includes applicable B30 fee and GST.

* For Fund Manager experience, please refer 'Our Fund Managers'
For last three dividends, please refer 'Dividend History'.
For scheme performance, please refer 'Scheme Performances'