DSP Credit Risk Fund
An open ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds).
DSP Credit Risk Fund
An open ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds).

Short duration with credit risk (max 35% in AAA)
Suitable for investors seeking credit exposure, potential to earn higher, tax-efficient returns than traditional time deposit of >=3 years

Fund Manager

Saurabh Bhatia
Total work experience of 19 years.
Managing this Scheme since March 2019.

Laukik Bagwe
Total work experience of 18 years.
Managing this Scheme since July 2016.

Fund Category

Credit Risk

Inception date

May 13, 2003

Benchmark

CRISIL Short Term Credit Risk Index

NAV
Regular Plan  
Growth: ₹ 29.7663
Direct Plan  
Growth: ₹ 31.2947
Total aum

₹ 322 Cr

Monthly average aum

₹ 325 Cr

Month End Expense Ratio
Regular Plan : 1.57%
Direct Plan : 0.78%
Average Maturity

0.46 years

Investment Horizon (Minimum)

> 3years +

Quantitative Measures
Modified Duration 0.32 years
Yield To Maturity 6.06%
Portfolio Macaulay Duration 0.36 years
Exit Load

Holding Period :
< 12 months: 1%~; >= 12 months: Nil
~If the units redeemed or switched out are upto 10% of the units (the limit) purchased or switched: Nil.

Data As On October 31, 2020

Name of InstrumentRating% to Net Assets
DEBT INSTRUMENTS
BOND & NCD's
Listed / awaiting listing on the stock exchanges
Tata Motors Limited CARE AA- 0.16
Bharti Airtel Limited CRISIL AA 0.07
Total 0.23
Unlisted
Nayara Energy Limited CARE AA 47.82
Sintex-BAPL Limited@ BWR D 9.00
Total 56.82
MONEY MARKET INSTRUMENTS
TREPS / Reverse Repo Investments / Corporate Debt Repo 31.27
Total 31.27
Cash & Cash Equivalent
Net Receivables/Payables 11.68
Total 11.68
GRAND TOTAL 100.00

as on 30th Oct'20

DSP Credit Risk Fund erstwhile known as DSP Income Opportunities Fund
Notes:1.. All corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, IND, & BWR.
2. @security is below investment grade or default
3. In case of below securities, DSP Mutual Fund has ignored prices provided by valuation agencies.
Disclosure vide circular no. SEBI/HO/IMD/DF4/CIR/P/2019/41 dated March 22, 2019 & SEBI/HO/IMD/ DF4/CIR/P/2019/102 dated September 24,2019 for detailed rationale along with other details are available at the below mentioned links

Name of the securities No of Instances Links
0% Sintex Bapl Limited NCD Series B 31122021 309 https://www.dspim.com/docs/default-source/other-updates/sintex-bapl-limited.pdf?sfvrsn=2
0% Sintex Bapl Limited NCD Series C 31122022 309 https://www.dspim.com/docs/default-source/other-updates/sintex-bapl-limited.pdf?sfvrsn=2
0% Sintex Bapl Limited NCD Series A 31122020 309 https://www.dspim.com/docs/default-source/other-updates/sintex-bapl-limited.pdf?sfvrsn=2
Il&Fs Energy Development Company Limited (Maturity Date : 28-Jun-2019) 309https://www.dspim.com/docs/default-source/other-updates/il-amp-fs-energy-devlopment-company-limited.pdf?sfvrsn=2
Il&Fs Energy Development Company Limited (Maturity Date : 07-Jun-2019) 309 https://www.dspim.com/docs/default-source/other-updates/il-amp-fs-energy-devlopment-company-limited.pdf?sfvrsn=2
6% Coffee Day Nat Resources 23Dec19 NCD 19 https://www.dspim.com/docs/default-source/other-updates/coffee-day-natural-resources-private-limited.pdf?sfvrsn=2
9.5% NAYARA ENERGY 29JUL21 NCD 37 https://dspim.com/docs/default-source/other-updates/website-note_nayara-and-oriental-nagpur---27apr20.pdf?sfvrsn=4
4. Pursuant to SEBI circular SEBI/HO/IMD/DF4/CIR/P/2019/102 dated September 24, 2019 read with circular no. SEBI/HO/IMD/DF4/CIR/P/2019/41 dated March 22, 2019. Below are the details of the securities in case of which issuer has defaulted beyond its maturity date
Security ISIN Value of the security considered under net receivables (i.e. value recognized in NAV in absolute terms and as % to NAV) (Rs.in lakhs) Total amount (including principal and interest) that is due to the scheme on that investment (Rs.in lakhs)
0% IL&Fs Transportation Networks Limited Ncd Series A 23032019 INE975G081400.000.00%23,396.18
0% IL&Fs Energy Development Company Limited Ncd 07062019 INE938L08049 0.00 0.00% 13,861.96
0% IL&FS Energy Development Company Limited Ncd 28062019 INE938L08056 0.00 0.00% 10,645.02
6% Coffee Day Natural Resources Pvt Ltd Ncd 23122019 (P/C 24122017, Call 31102018 & 23062019) INE634N07075 3,787.45 11.77%7,881.79

Performance (CAGR Returns in %)
1 yr 3 yr5 yrSI*
5.081.974.74 6.44
*SI - Since inception
Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Returns are for Regular Plan - Growth Option Click here for performance in SEBI prescribed format.

Investment Objective

An Open ended income Scheme, seeking to generate returns commensurate with risk from a portfolio constituted of money market securities and/or debt securities.
There is no assurance that the investment objective of the Scheme will be realized.

Product Labelling

This Scheme is suitable for investors who are seeking*
• Income over a medium-term to long term investment horizon
• Investment predominantly in corporate bonds which are AA and below rated instruments

* Investors should consult their financial advisors if in doubt whether the product is suitable for them.