(Previously known as IDFC Super Saver Income Fund - Short
Term Plan)
(Previously known as IDFC Super Saver Income Fund - Short Term Plan)
An open ended short term debt scheme investing in instruments
such that the Macaulay duration of the portfolio is between 1
year and 3 years.
A Short Term Income Fund, the portfolio is mostly a mix
of short duration debt and money market instruments.
The average portfolio maturity will be ordinarily
anchored around 2 years.
The government has been prudent so far in rationing its stimulus
response, focusing first on sustenance and keeping a growth stimulus for
later. Despite the government’s prudence so far, however, the load on the
fiscal is heavy. A necessary condition for financing this is a
well-functioning bond market. The measures announced in August should
now restore normal functioning and allow the substantial borrowing
requirement to start going through without undoing the transmission
channel.
Having said that, it is also true that more than 50% of an INR 20 lakh crore
plus (center and states combined) borrowing program is still ahead of us.
One shouldn’t expect a very large sustainable rally in bonds basis just the
current set of triggers, although one should reasonably expect most of the
recent aggressive sell-off to get unwound. However re-instatement of
orderly functioning now allows participants to start deploying risk capital
with more confidence to take advantage of what are quite attractive
valuations given the underlying backdrop of an unprecedented growth
drawdown and a collapse in credit growth.
The external account is our one significant macro strength today and
provides adequate cushion to RBI to persist with a dovish policy for the
time-being. For all these reasons, our view remains that the important
current pillars of policy will sustain for the foreseeable future. The spike in
inflation presents an interpretation problem for now and it remains our
base case that it will not shift the narrative away from growth for
monetary policy, despite throwing up higher average CPI prints for the
year. In our opinion, focus has to be on best quality AAA and sovereign /
quasi sovereign. There is no macro logic whatsoever for pursuing high
yield strategies.
Category: Short Duration
Monthly Avg AUM: Rs13,126.84 Crores
Inception Date: 14th December 2000
Fund Manager:
Mr. Suyash
Choudhary (Since 11th March 2011)
Standard Deviation (Annualized): 2.09%
Modified duration 1.80 years
Average Maturity: 2.05 years
Macaulay Duration: 1.89 years
Yield to Maturity: 4.81%
Benchmark: NIFTY AAA Short
Duration Bond Index (w.e.f 11/11/2019)
Minimum Investment Amount: Rs5,000/- and any amount thereafter
Exit Load: Nil (w.e.f. 23rd May 2016)
Options Available : Growth, Dividend - Fortnightly (Payout, Reinvestment & Sweep), Monthly, Quarterly, Annual & Periodic
Maturity Bucket:
PORTFOLIO | (31 August 2020) |
Name | Rating | Total (%) |
Corporate Bond | 94.40% | |
NABARD | AAA | 11.88% |
Reliance Industries | AAA | 11.66% |
LIC Housing Finance | AAA | 9.25% |
HDFC | AAA | 9.24% |
Power Finance Corporation | AAA | 8.88% |
Indian Railway Finance Corporation | AAA | 8.67% |
REC | AAA | 7.02% |
National Housing Bank | AAA | 6.63% |
Small Industries Dev Bank of India | AAA | 5.24% |
National Highways Auth of Ind | AAA | 3.74% |
NTPC | AAA | 3.21% |
Power Grid Corporation of India | AAA | 2.45% |
Larsen & Toubro | AAA | 2.29% |
Bajaj Finance | AAA | 1.81% |
HDB Financial Services | AAA | 1.40% |
Sundaram Finance | AAA | 0.58% |
Indian Oil Corporation | AAA | 0.40% |
Export Import Bank of India | AAA | 0.04% |
Certificate of Deposit | 1.32% | |
Axis Bank | A1+ | 0.95% |
Export Import Bank of India | A1+ | 0.38% |
PTC | 0.64% | |
First Business Receivables Trust^ | AAA(SO) | 0.64% |
Treasury Bill | 0.38% | |
182 Days Tbill - 2020 | SOV | 0.38% |
Net Cash and Cash Equivalent | 3.26% | |
Grand Total | 100.00% |
This product is suitable for investors who are seeking*:
• To generate optimal returns over short to medium term
• Investments in Debt & Money Market securities such that the Macaulay duration of the portfolio is between 1 year and 3 years
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
![]() | Contact your Financial Advisor |
![]() | Call toll free 1800-2-6666-88 |
![]() Contact your Financial Advisor | ![]() Call toll free 1800-2-6666-88 |
![]() Invest online at www.idfcmf.com | ![]() www.facebook.com/idfcamc |
![]() @IDFCMF |