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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 (%) 2022 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity ICICI Prudential Long Term Plan Growth ₹31.4868
₹10,214 2.7 4.1 9.3 6.1 4.5 7.94% 2Y 11M 12D 6Y 5M 1D PGIM India Credit Risk Fund Growth ₹15.5876
₹39 0.6 4.4 8.4 3 5.01% 6M 14D 7M 2D UTI Banking & PSU Debt Fund Growth ₹18.943
₹859 3.1 4 8 6.9 10.3 7.52% 3Y 3M 25D 4Y 18D HDFC Corporate Bond Fund Growth ₹27.7232
₹26,612 2.7 3.9 7.8 5.7 3.3 7.65% 2Y 7M 16D 5Y 19D Aditya Birla Sun Life Corporate Bond Fund Growth ₹96.03
₹16,897 2.5 3.9 7.6 6 4.1 7.69% 1Y 3M 11D 1Y 7M 6D Axis Credit Risk Fund Growth ₹18.3127
₹596 2.4 3.8 7.1 6.4 4 8.31% 1Y 6M 1Y 8M 23D Aditya Birla Sun Life Money Manager Fund Growth ₹317.682
₹13,881 2.2 3.8 6.9 5 4.8 7.46% 7M 6D 7M 6D HDFC Banking and PSU Debt Fund Growth ₹19.7567
₹5,831 2.5 3.8 6.8 5.5 3.3 7.48% 2Y 6D 3Y 1M 27D Aditya Birla Sun Life Savings Fund Growth ₹470.777
₹14,525 2 3.6 6.5 5.2 4.8 7.56% 5M 8D 5M 16D PGIM India Short Maturity Fund Growth ₹38.7791
₹28 2.3 3.4 6.3 4.5 3.3 7.43% 1Y 8M 8D 2Y 4D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Jun 23
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