The investment objective of the Scheme is to seek to optimize returns by from a portfolio comprising investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 year and 4 years. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/indicate any returns.
Regular Plan - Growth Option | : ₹ 17.5901 |
Regular Plan - Annual IDCW Option | : ₹ 10.8412 |
Regular Plan - Half Yearly IDCW Option | : ₹ 10.5325 |
Regular Plan - Calendar Quarterly IDCW Option | : ₹ 10.3687 |
Regular Plan - Monthly IDCW Option | : ₹ 10.2589 |
Direct Plan - Growth Option | : ₹ 18.7572 |
Direct Plan - Annual IDCW Option | : ₹ 11.0011 |
Direct Plan - Monthly IDCW Option | : ₹ 10.6593 |
Direct Plan - Calendar Quarterly IDCW Option | : ₹ 10.2923 |
Direct Plan - Half Yearly IDCW Option | : ₹ 10.0000 |
(w.e.f. March 12, 2024) CRISIL Medium Duration Debt A-III Index
March 05, 2014
Fund Manager | Managing fund since | Experience |
Prashant Pimple* | 11-Jul-24 | 24 years |
Vikram Pamnani* | 11-Jul-24 | 14 years |
μ Dedicated Fund Manager for Overseas Investments: Mr. Jay Sheth (Managing fund w.e.f. September 01, 2023)
Entry Load : Not Applicable.
Exit Load: Redeemed or switched out from the date of
allotment: upto 12 month: 1% after 12 month: Nil
For detailed load structure please refer Scheme Information
Document of the scheme.
Minimum Application Amount:
₹ 5,000 and in multiples of ₹ 1 thereafter.
Minimum Additional Application Amount:
₹ 1,000 and in multiples of ₹ 1 thereafter.
Monthly AAUM## As on July 31, 2024 | : ₹ 28.29 Crores |
AUM## As on July 31, 2024 | : ₹ 28.35 Crores |
## excluding inter-scheme Investments, if any, by other schemes of BNP Paribas Mutual Fund, as may be applicable
Fixed Income Holdings | Rating | % of Net Assets |
CORPORATE BOND | 61.16% | |
✔REC Limited | CRISIL AAA | 9.30% |
✔Food Corporation Of India | CRISIL AAA(CE) | 7.44% |
✔National Highways Authority Of India | CRISIL AAA | 7.29% |
✔JM Financial Products Limited | ICRA AA | 7.01% |
✔Muthoot Finance Limited | CRISIL AA+ | 7.00% |
✔Hindustan Petroleum Corporation Limited | CRISIL AAA | 5.34% |
✔National Bank For Agriculture and Rural Development | CRISIL AAA | 5.29% |
✔Bharat Sanchar Nigam Limited | CRISIL AAA(CE) | 5.11% |
✔Power Grid Corporation of India Limited | CRISIL AAA | 3.92% |
State Bank of India | CRISIL AAA | 3.46% |
GOVERNMENT BOND | 5.37% | |
7.38% GOI (MD 20/06/2027) | Sovereign | 3.58% |
7.17% GOI (MD 17/04/2030) | Sovereign | 1.79% |
STATE GOVERNMENT BOND | 13.76% | |
✔6.91% Maharashtra SDL (MD 15/09/2033) | Sovereign | 13.76% |
REDUCED FACE VALUE BONDS | 3.21% | |
Power Grid Corporation of India Limited | CRISIL AAA | 3.21% |
CORPORATE DEBT MARKET DEVELOPMENT FUND | 0.33% | |
Corporate Debt Market Development Fund | Others | 0.33% |
Total Fixed Income Holdings | 83.83% | |
TREPS, Cash & Other Net Current Assets | 16.17% | |
GRAND TOTAL | 100.00% |
Investment in Top 10 scrips constitutes 71.46% of the portfolio
Note on Segregated Portfolio: Due to credit event (Default of debt servicing by Yes Bank on March 6, 2020), securities of Yes Bank have been
segregated from the scheme’s portfolio w.e.f March 6, 2020. Yes Bank had, on March 14, 2020, informed the Stock Exchanges that the AT1 bonds
were fully written down and had extinguished with immediate effect pursuant to Master Circular- Basel III Capital Regulations dated July 01, 2015
read with Section 45 of the Banking Regulation Act, 1949. On March 16, 2020, Axis Trustee Services Ltd.,debenture trustee for the AT1 bonds, had filed
a writ petition in the Hon’ble High Court, Mumbai, inter alia seeking relief from the Court to set aside the decision to write off the AT1 bonds, and that
the matter was sub-judice before the Hon’ble Court. Kindly refer to SID/ KIM for complete details on segregation of portfolio.
Segregated portfolio1 BONDS & NCDs Listed / awaiting listing on the stock exchanges | ||
Yes Bank Ltd.N@@B@@$& | [ICRA]D | 0.00% |
Total | 0.00% |
Pursuant to distribution under Income Distribution cum Capital Withdrawal (‘IDCW’) option, NAV of the IDCW option of the scheme(s) would fall to the extent of payout and statutory levy (if applicable). The
amounts under IDCW options can be distributed out of investors capital (Equalization Reserve), which is part of sale price that represents realized gains. Past performance may or may not be sustained in future.
The above stated distribution rate per unit is net distribution rate after deducting applicable taxes. The above distribution rates are on face value of ₹ 10 per unit.
TER - Regular Plan (%) | 0.97 |
TER - Direct Plan (%) | 0.69 |
Average Maturity (years) | 4.33 |
Modified Duration (years) | 3.22 |
YTM (%) | 7.45% |
Macaulay Duration† (years) | 3.4 |
* The information contained in this report has been obtained from sources considered to be authentic and reliable. The quantitative data does not purport to be an offer for purchase and sale of mutual fund units.
†Concept of Macaulay duration: The Macaulay Duration is a
measure of a bond’s sensitivity to interest rate changes. It is
expressed in annual terms. It is the weighted average term to
maturity of the cash flows from a bond. The weight of each
cash flow is determined by dividing the present value of the
cash flow by the price. Factors like a bond’s price, maturity,
coupon, yield to maturity among others impact the calculation
of Macaulay duration. The Macaulay duration can be viewed as
the economic balance point of a group of cash flows. Another
way to interpret the statistic is that it is the weighted average
number of years an investor must maintain a position in the
bond until the present value of the bond’s cash flows equals
the amount paid for the bond. As it provides a way to estimate
the effect of certain market changes on a bond’s price, the
investor can choose an investment that will better meet his
future cash needs.
Credit Risk → | Relatively Low Class A (CRV>=12) | Moderate (CRV>=10) | Relatively High: Class C (CRV<10) |
Interest Rate Risk ↓ | |||
Relatively Low: Class I (MD<=1 year) | |||
Moderate: Class II (MD<=3 year) | |||
Relatively High: Class III (Any MD) | B-III |
MD=Macaulay Duration, CRV=Credit Risk Value.
‡ The PRC matrix denotes the maximum risk that the respective Scheme can take i.e. maximum interest rate risk (measured
by MD of the Scheme) and maximum credit risk (measured by CRV of the Scheme)