Securities and Exchange Board of India (SEBI) introduced new and broad categories in Mutual Funds in order to bring uniformity in similar schemes launched by the different Mutual Funds. This is to aim and ensure that investors can find it easier to compare the products and evaluate the different options available before Investing in a scheme.
SEBI intends to make Mutual Fund investment easier for the investors. Investors could invest according to their needs, Financial goals and risk ability. SEBI has circulated new Mutual Fund categorisation on 6th October 2017. This mandates Mutual Fund Houses to categories all their debt schemes (existing & future scheme) into 16 distinct categories. SEBI has also introduced 10 new categories in Equity Mutual Funds.
As per SEBI’s new categorisation, Debt fund schemes will have 16 categories. Here’s the list:
This debt scheme will invest in overnight securities having a maturity of one day.
These schemes will invest in debt and money market securities with a maturity of up to 91 days.
This scheme will invest in debt and money market securities with a Macaulay duration between three to six months. Macaulay duration measures how long it will take the scheme to recoup the investment.
The scheme will invest in debt and money market securities with a Macaulay duration between six to 12 months.
This scheme will invest in money market instruments having a maturity up to one year.
This scheme will invest in debt and money market instruments with a Macaulay duration of one to three years.
This scheme will invest in debt and money market instruments with a Macaulay duration of three to four years.
This scheme will invest in debt and money market instruments with a Macaulay duration of four to seven years.
This scheme will invest in debt and money market instruments with a Macaulay duration greater than seven years.
This is a debt scheme that invests across all the duration.
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This debt scheme mainly invests in the highest rated corporate Bonds. The fund can invest a minimum 80 percent of its total assets in the highest-rated corporate bonds
This scheme will invest in below the high-rated corporate bonds. The Credit Risk Fund should invest at least 65 percent of its assets below the highest-rated instruments.
This scheme predominantly invests in debt instruments of Banks, Public Financial Institutional, Public Sector Undertakings.
This scheme invests in government securities across maturity. Gilt Funds will invest a minimum 80 percent of its total assets in government securities.
This scheme will invest in government securities with a maturity of 10 years. 15. Gilt Fund with 10-year Constant Duration will invest a minimum 80 percent in government securities.
This debt scheme mainly invests in floating rate instruments. Floater Fund will invest a minimum of 65 percent of its total assets in floating rate instruments.
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2020 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity UTI Dynamic Bond Fund Growth ₹23.3627
₹221 10.2 10.9 11.6 4.9 5.9 3.23% 1Y 2M 12D 3Y 8M 23D PGIM India Credit Risk Fund Growth ₹15.4932
₹44 3.9 4.8 11.5 3.6 -2.2 4.95% 1Y 14D 1Y 2M 8D Axis Credit Risk Fund Growth ₹16.8944
₹724 1.7 3.4 7.1 6.7 8.2 6.21% 1Y 5M 16D 2Y 22D Baroda Pioneer Treasury Advantage Fund Growth ₹1,582.98
₹31 0.8 1.7 6.9 -8.9 -11.1 3.6% 9M 11D 11M 8D ICICI Prudential Long Term Plan Growth ₹28.8872
₹6,036 1.6 2.9 5.5 9.5 11.8 6.1% 4Y 25D 7Y 3M 4D Aditya Birla Sun Life Corporate Bond Fund Growth ₹88.6389
₹24,413 1.4 2.8 5.2 9.2 11.9 4.74% 1Y 8M 19D 2Y 1M 2D HDFC Corporate Bond Fund Growth ₹25.7445
₹27,568 1.6 2.9 5 9.3 11.8 5.09% 2Y 6M 3Y 10M 28D HDFC Banking and PSU Debt Fund Growth ₹18.3767
₹9,735 1.3 2.6 4.7 8.9 10.6 5.31% 2Y 7M 6D 3Y 9M 22D Aditya Birla Sun Life Savings Fund Growth ₹432.348
₹18,973 1 2.1 4.2 6.9 7 4.06% 6M 6M 4D Aditya Birla Sun Life Money Manager Fund Growth ₹290.951
₹16,634 0.9 2 3.9 6.6 6.6 3.67% 3M 25D 3M 25D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 14 Oct 21
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