| 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.
| 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.

  

  
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
Mutual Fund Units - Total 4.04
Embassy Office Parks REIT Realty 2.30
Brookfield India Real Estate Trust Realty 1.28
Mindspace Business Parks REIT Realty 0.46
Debt Instruments
Debentures and Bonds
Government Dated Securities
5.53% Central Government(^) SOV 7.55
5.74% Central Government SOV 1.54
6.12% Karnataka State Govt-Karnataka SOV 1.53
Government Dated Securities - Total 10.62
Public Sector Undertakings
National Bank for Agriculture & Rural Development ICRA AAA 6.31
Power Finance Corporation Ltd. CRISIL AAA 4.13
Export-Import Bank of India CRISIL AAA 3.14
U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(CE) 3.10
THDC India Ltd. (THDCIL) CARE AA 1.61
Punjab National Bank(Basel III TIER II Bonds) CRISIL AA+ 0.32
Public Sector Undertakings - Total 18.61
Corporate Debt/Financial Institutions
Tata Power Company Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(CE) 6.95
Aadhar Housing Finance Limited CARE AA 6.29
DLF Cyber City Developers Ltd CRISIL AA 6.21
Prestige Projects Pvt. Ltd ICRA A+(CE) 6.01
Bahadur Chand Investments Private Limited ICRA AA 4.80
Bajaj Housing Finance Ltd. CRISIL AAA 4.68
Godrej Industries Ltd CRISIL AA 3.79
Tata Motors Finance Solutions Ltd. CARE AA- 3.54
Godrej Properties Limited ICRA AA 3.22
Godrej Industries Ltd CRISIL AA 1.89
Century Textiles & Industries Ltd. CRISIL AA 1.58
Tata Projects Ltd. FITCH IND AA 1.55
Muthoot Finance Ltd. CRISIL AA+ 0.96
Muthoot Finance Ltd. CRISIL AA+ 0.84
Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 0.65
Tata Projects Ltd. FITCH IND AA 0.32
LIC Housing Finance Ltd. CRISIL AAA 0.05
Corporate Debt/Financial Institutions - Total 53.33
Money Market Instruments
Commercial Paper(CP)/Certificate of Deposits(CD)
Treasury Bills
182 Days Treasury Bill 04/08/2022 SOV 1.28
Treasury Bills - Total 1.28
Public Sector Undertakings
Small Industries Development Bank Of India CARE A1+ 3.17
Public Sector Undertakings - Total 3.17
Corporate Debt/Financial Institutions
Vedanta Ltd. CRISIL A1+ 3.06
Corporate Debt/Financial Institutions - Total 3.06
Triparty Repo 2.06
Net Current Assets/(Liabilities) 3.83
Grand Total 100.00

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) 14,70,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Total Value as on July 29, 2022 ( Rs) 22,86,207 16,75,222 10,22,658 6,77,528 3,78,836 1,19,453
Scheme Returns (%) 6.94 6.50 5.55 4.82 3.36 -0.86
NIFTY Credit Risk Bond Index CIII Returns (%) 9.13 8.91 8.45 8.31 7.74 5.49
Alpha -2.18 -2.41 -2.90 -3.49 -4.38 -6.35
NIFTY Credit Risk Bond Index CIII ( Rs)# 26,39,704 19,00,602 11,33,847 7,39,279 4,04,399 1,23,472
NIFTY Credit Risk Bond Index Returns (%) 8.85 8.62 8.22 8.11 7.51 5.03
Alpha -1.90 -2.12 -2.67 -3.29 -4.15 -5.89
NIFTY Credit Risk Bond Index ( Rs)# 25,91,256 18,72,276 11,24,706 7,35,678 4,03,015 1,23,185
CRISIL 10 Year Gilt Index ( Rs)^ 21,40,380 16,03,218 9,91,343 6,63,839 3,66,588 1,19,103
CRISIL 10 Year Gilt Index (%) 5.93 5.66 4.67 4.01 1.19 -1.40

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.
NAV
Growth OptionRs24.1562
Direct Growth OptionRs26.4319
Annual-Reg-Plan-IDCW Rs10.5052
Annual-Dir-Plan-IDCW Rs19.8529

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. 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 dateMay 11, 2010
AAUMRs1,570.30 crs
AUMRs1,556.28 crs
Folio count13,627

IDCW Frequency

At discretion of trustees


Ratios
Portfolio Average Maturity 2.71 yrs
IRS Average Maturity* 0.10 yrs
Net Average Maturity 2.80 yrs
Portfolio Modified Duration 1.45 yrs
IRS Modified Duration* 0.09 yrs
Net Modified Duration 1.54 yrs
Portfolio Macaulay Duration 1.55 yrs
IRS Macaulay Duration* 0.09 yrs
Net Macaulay Duration 1.64 yrs
YTM 7.49%
$Standard Deviation 2.78%
*Interest Rate Swap
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: 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: 1.71%; Direct: 0.74%


Data as on July 31, 2022

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 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 31 Jul 2022 is 4.87% 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'