Best Debt Mutual Funds in India for 2026 | Top Funds by Tenure & Tax Benefits

Updated on January 28, 2026 , 65150 views

Best debt funds vary according to the tenor of investment of the investor. Investors need to be clear on their time horizon of investment when selecting the best debt fund for their investment and also factor in the interest rate scenario.

For investors with a very short holding period, say for a couple of days to a month, Liquid Funds and ultra-short term funds may be relevant. When the time horizon is one to two years then short-term funds may be the desired vehicle. For longer tenors, for more than 3 years, long-term debt funds are the most preferred instruments by investors, especially during falling interest rates. Above all, debt funds have proved to be less risky than equities when looking for short-term investments, however, the Volatility of long-term income funds may match that of equities.

As debt funds invest in fixed income instruments like government securities, treasury bills, corporate Bonds, etc., they have the capacity of generating consistent and regular returns over time. However, there are many qualitative and quantitative factors that one needs to understand before selecting the best debt funds to invest, viz - AUM, Average Maturity, Taxation, the credit quality of the Portfolio, etc. Below we have listed the top 5 best debt funds to invest across the various categories of debt funds - Best Liquid Funds, best ultra short-term funds, best short-term funds, best long-term funds and best Gilt Funds to invest in 2026 - 2027.

Quick Summary

✅ Best for short-term: Liquid, Ultra-Short, and Money market funds

✅ Best for 1–2 years: Short-term bond funds

✅ Best for 3+ years: Gilt funds, Corporate bond funds, Dynamic Bond Funds

✅ Risks: Credit risk, Interest rate risk

✅ Tax: 20% with indexation if held for more than 3 years

Why To Invest in Debt Mutual Funds?

Debt funds are considered to be an ideal investment for generating regular income. For example, choosing dividend payout can be an option for regular income.
In debt funds, investors can withdraw required money from the investment at any point in time and can let the remaining money stay invested.
Since debt funds largely invest in government securities, corporate debt and other securities like treasury bills, etc., they are not affected by equity market volatility.
If an investor is planning to achieve short-term Financial goals or invest for short periods then debt funds can be a good option. Liquid funds, ultra short-term funds, and short-term income funds may be the desired options.
In debt funds, investors can generate fixed income every month by starting a Systematic Withdrawal Plan (SWP is a reverse of SIP / STP) to withdraw a fixed amount on a monthly basis. Also, you can change the amount of the SWP when required.

Key Benefits of Debt Funds in 2026

Safer than equities in volatile markets
Offer liquidity and low lock-in
Tax-efficient with indexation benefit after 3 years
Flexible options for all durations and risk profiles
Suitable for conservative and semi-aggressive investors alike

Risks in Debt Mutual Funds

While Investing in debt funds, investors should be cautious about two major risks associated with them - credit risk and interest rate risk.

Credit Risk

A credit risk arises when a company that has issued the debt instruments does not make regular payments. In such cases, it has a major impact on the fund, depending on how much portion the fund has in the portfolio. Hence, it is suggested to be in debt instruments with a rating higher credit rating. An AAA rating is considered to be the highest quality with little or negligible payment default risk.

Interest Risks

The interest rate risk refers to a change in the bond price due to the change in the prevailing interest rate. When the interest rate rises in the economy the bond prices fall down and vice versa. The higher the maturity of the funds’ portfolio, the more prone it is to the interest rate risk. So in a rising interest rate scenario, it is advisable to go for lower maturity debt funds. And the reverse in a falling interest rate scenario.

Debt Mutual Fund Taxation

Tax implication on debt funds is computed in the following manner-

a. Short Term Capital Gains

If the holding period of a debt investment is less than 36 months, then it is classified as a short-term investment and these are taxed as per individual's tax slab.

b. Long Term Capital Gains

If the holding period of debt investment is more than 36 months, then it is classified as a long-term investment and is taxed at 20% with an indexation benefit.

Capital Gains	Investment Holding Gains	Taxation
Short Term Capital Gains	Less than 36 months	As per individual's tax slab
Long Term Capital Gains	More than 36 months	20% with indexation benefits

📌 Note: Indexation helps adjust the purchase price with inflation, effectively reducing your tax liability.

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Best Debt Mutual Funds in India for Investments FY 26 - 27

Fund Selection Methodology used to find 5 funds

Category: Debt
Sub-category: Liquid%20Fund
AUM Range: 10000 to 100000 Cr
Sorted On : drat (high to low)
Tags: fcpro
No Of Funds: 5

Top 5 Liquid Mutual Funds

Top Liquid funds with AUM/Net Assets > 10,000 Crore.

Fund	NAV	Net Assets (Cr)	Min Investment	1 MO (%)	3 MO (%)	6 MO (%)	1 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
Axis Liquid Fund Growth	₹3,005.44 ↑ 0.47	₹35,653	500	0.5	1.4	2.9	6.4	6.6	6.06%	1M 28D	2M 2D
Aditya Birla Sun Life Liquid Fund Growth	₹434.877 ↑ 0.06	₹47,273	5,000	0.5	1.4	2.9	6.4	6.5	6.19%	2M 1D	2M 1D
Tata Liquid Fund Growth	₹4,250.61 ↑ 0.63	₹18,946	5,000	0.5	1.4	2.9	6.4	6.5	6.08%	1M 28D	1M 28D
Invesco India Liquid Fund Growth	₹3,709.53 ↑ 0.51	₹16,203	5,000	0.5	1.4	2.9	6.4	6.5	5.92%	1M 14D	1M 14D
ICICI Prudential Liquid Fund Growth	₹399.472 ↑ 0.06	₹45,244	500	0.5	1.4	2.9	6.3	6.5	6.04%	1M 17D	1M 21D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	Axis Liquid Fund	Aditya Birla Sun Life Liquid Fund	Tata Liquid Fund	Invesco India Liquid Fund	ICICI Prudential Liquid Fund
Point 1	Lower mid AUM (₹35,653 Cr).	Highest AUM (₹47,273 Cr).	Bottom quartile AUM (₹18,946 Cr).	Bottom quartile AUM (₹16,203 Cr).	Upper mid AUM (₹45,244 Cr).
Point 2	Established history (16+ yrs).	Oldest track record among peers (21 yrs).	Established history (21+ yrs).	Established history (19+ yrs).	Established history (20+ yrs).
Point 3	Top rated.	Rating: 4★ (upper mid).	Rating: 4★ (lower mid).	Rating: 4★ (bottom quartile).	Rating: 4★ (bottom quartile).
Point 4	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.
Point 5	1Y return: 6.40% (top quartile).	1Y return: 6.37% (upper mid).	1Y return: 6.37% (lower mid).	1Y return: 6.37% (bottom quartile).	1Y return: 6.34% (bottom quartile).
Point 6	1M return: 0.49% (top quartile).	1M return: 0.48% (upper mid).	1M return: 0.48% (lower mid).	1M return: 0.48% (bottom quartile).	1M return: 0.48% (bottom quartile).
Point 7	Sharpe: 3.47 (top quartile).	Sharpe: 3.21 (bottom quartile).	Sharpe: 3.23 (lower mid).	Sharpe: 3.28 (upper mid).	Sharpe: 2.99 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: -0.22 (bottom quartile).
Point 9	Yield to maturity (debt): 6.06% (lower mid).	Yield to maturity (debt): 6.19% (top quartile).	Yield to maturity (debt): 6.08% (upper mid).	Yield to maturity (debt): 5.92% (bottom quartile).	Yield to maturity (debt): 6.04% (bottom quartile).
Point 10	Modified duration: 0.16 yrs (lower mid).	Modified duration: 0.17 yrs (bottom quartile).	Modified duration: 0.16 yrs (bottom quartile).	Modified duration: 0.12 yrs (top quartile).	Modified duration: 0.13 yrs (upper mid).

Axis Liquid Fund

Lower mid AUM (₹35,653 Cr).
Established history (16+ yrs).
Top rated.
Risk profile: Low.
1Y return: 6.40% (top quartile).
1M return: 0.49% (top quartile).
Sharpe: 3.47 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.06% (lower mid).
Modified duration: 0.16 yrs (lower mid).

Aditya Birla Sun Life Liquid Fund

Highest AUM (₹47,273 Cr).
Oldest track record among peers (21 yrs).
Rating: 4★ (upper mid).
Risk profile: Low.
1Y return: 6.37% (upper mid).
1M return: 0.48% (upper mid).
Sharpe: 3.21 (bottom quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.19% (top quartile).
Modified duration: 0.17 yrs (bottom quartile).

Tata Liquid Fund

Bottom quartile AUM (₹18,946 Cr).
Established history (21+ yrs).
Rating: 4★ (lower mid).
Risk profile: Low.
1Y return: 6.37% (lower mid).
1M return: 0.48% (lower mid).
Sharpe: 3.23 (lower mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.08% (upper mid).
Modified duration: 0.16 yrs (bottom quartile).

Invesco India Liquid Fund

Bottom quartile AUM (₹16,203 Cr).
Established history (19+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Low.
1Y return: 6.37% (bottom quartile).
1M return: 0.48% (bottom quartile).
Sharpe: 3.28 (upper mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 5.92% (bottom quartile).
Modified duration: 0.12 yrs (top quartile).

ICICI Prudential Liquid Fund

Upper mid AUM (₹45,244 Cr).
Established history (20+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Low.
1Y return: 6.34% (bottom quartile).
1M return: 0.48% (bottom quartile).
Sharpe: 2.99 (bottom quartile).
Information ratio: -0.22 (bottom quartile).
Yield to maturity (debt): 6.04% (bottom quartile).
Modified duration: 0.13 yrs (upper mid).

About the Fincash Research Team

At Fincash, our mission is to help investors make informed, confident decisions. With over 10 years in Mutual Fund distribution, our team blends deep industry expertise with a commitment to transparency, accuracy, and investor education.

Who We Are

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Location: Thane, Maharashtra, India
Experience: 10+ years in Mutual Fund distribution

Our Expertise

Certified Mutual Fund Distributors with hands-on advisory experience.
Market analysts tracking performance, macro trends, and sectors.
Data specialists processing NAVs, allocations, and risk metrics from Morning Star.

Our Research Process

Data sourcing: SEBI-registered fund houses & verified third-party provider Morning Star
Screening: Returns, manager track record, expenses, sector mix, risk-adjusted metrics.
Expert review: Senior team members review every article and list for accuracy.
Updates: Regular refreshes so performance data reflects current market conditions.

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Content is for educational and informational purposes only and is not investment advice. Please consider your risk profile and consult a financial advisor before investing.

Top 5 Ultra Short Term Bond Mutual Funds

Top Ultra Short Bond funds with AUM/Net Assets > 1,000 Crore.

Fund	NAV	Net Assets (Cr)	Min Investment	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
Aditya Birla Sun Life Savings Fund Growth	₹567.716 ↑ 0.25	₹23,615	1,000	1.2	2.8	7.1	7.4	7.4	6.81%	5M 19D	6M 11D
UTI Ultra Short Term Fund Growth	₹4,374.97 ↑ 1.42	₹3,655	5,000	1.2	2.6	6.4	6.8	6.6	6.78%	5M 21D	6M 24D
ICICI Prudential Ultra Short Term Fund Growth	₹28.6537 ↑ 0.01	₹16,907	5,000	1.3	2.8	6.8	7.1	7.1	6.82%	5M 19D	7M 10D
SBI Magnum Ultra Short Duration Fund Growth	₹6,178.05 ↑ 1.84	₹14,639	5,000	1.3	2.8	6.7	7.1	7	6.49%	5M 5D	5M 23D
Kotak Savings Fund Growth	₹44.2942 ↑ 0.02	₹14,243	5,000	1.2	2.7	6.6	6.9	6.8	6.66%	5M 26D	6M 25D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	Aditya Birla Sun Life Savings Fund	UTI Ultra Short Term Fund	ICICI Prudential Ultra Short Term Fund	SBI Magnum Ultra Short Duration Fund	Kotak Savings Fund
Point 1	Highest AUM (₹23,615 Cr).	Bottom quartile AUM (₹3,655 Cr).	Upper mid AUM (₹16,907 Cr).	Lower mid AUM (₹14,639 Cr).	Bottom quartile AUM (₹14,243 Cr).
Point 2	Established history (22+ yrs).	Established history (22+ yrs).	Established history (14+ yrs).	Oldest track record among peers (26 yrs).	Established history (21+ yrs).
Point 3	Top rated.	Rating: 4★ (upper mid).	Rating: 3★ (lower mid).	Rating: 3★ (bottom quartile).	Rating: 3★ (bottom quartile).
Point 4	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Low.	Risk profile: Moderately Low.
Point 5	1Y return: 7.08% (top quartile).	1Y return: 6.40% (bottom quartile).	1Y return: 6.83% (upper mid).	1Y return: 6.74% (lower mid).	1Y return: 6.60% (bottom quartile).
Point 6	1M return: 0.31% (bottom quartile).	1M return: 0.34% (lower mid).	1M return: 0.34% (bottom quartile).	1M return: 0.36% (upper mid).	1M return: 0.36% (top quartile).
Point 7	Sharpe: 3.14 (top quartile).	Sharpe: 1.85 (bottom quartile).	Sharpe: 2.94 (upper mid).	Sharpe: 2.90 (lower mid).	Sharpe: 2.06 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 6.81% (upper mid).	Yield to maturity (debt): 6.78% (lower mid).	Yield to maturity (debt): 6.82% (top quartile).	Yield to maturity (debt): 6.49% (bottom quartile).	Yield to maturity (debt): 6.66% (bottom quartile).
Point 10	Modified duration: 0.47 yrs (upper mid).	Modified duration: 0.47 yrs (bottom quartile).	Modified duration: 0.47 yrs (lower mid).	Modified duration: 0.43 yrs (top quartile).	Modified duration: 0.49 yrs (bottom quartile).

Aditya Birla Sun Life Savings Fund

Highest AUM (₹23,615 Cr).
Established history (22+ yrs).
Top rated.
Risk profile: Moderately Low.
1Y return: 7.08% (top quartile).
1M return: 0.31% (bottom quartile).
Sharpe: 3.14 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.81% (upper mid).
Modified duration: 0.47 yrs (upper mid).

UTI Ultra Short Term Fund

Bottom quartile AUM (₹3,655 Cr).
Established history (22+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderately Low.
1Y return: 6.40% (bottom quartile).
1M return: 0.34% (lower mid).
Sharpe: 1.85 (bottom quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.78% (lower mid).
Modified duration: 0.47 yrs (bottom quartile).

ICICI Prudential Ultra Short Term Fund

Upper mid AUM (₹16,907 Cr).
Established history (14+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
1Y return: 6.83% (upper mid).
1M return: 0.34% (bottom quartile).
Sharpe: 2.94 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.82% (top quartile).
Modified duration: 0.47 yrs (lower mid).

SBI Magnum Ultra Short Duration Fund

Lower mid AUM (₹14,639 Cr).
Oldest track record among peers (26 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Low.
1Y return: 6.74% (lower mid).
1M return: 0.36% (upper mid).
Sharpe: 2.90 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.49% (bottom quartile).
Modified duration: 0.43 yrs (top quartile).

Kotak Savings Fund

Bottom quartile AUM (₹14,243 Cr).
Established history (21+ yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 6.60% (bottom quartile).
1M return: 0.36% (top quartile).
Sharpe: 2.06 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.66% (bottom quartile).
Modified duration: 0.49 yrs (bottom quartile).

Top and Best Floating Rate Mutual Funds

Fund	NAV	Net Assets (Cr)	Min Investment	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
Aditya Birla Sun Life Floating Rate Fund - Long Term Growth	₹359.896 ↑ 0.22	₹13,416	1,000	1.1	2.6	7.2	7.6	7.7	6.79%	1Y 25D	1Y 9M 11D
ICICI Prudential Floating Interest Fund Growth	₹439.713 ↑ 0.24	₹7,282	5,000	1.3	2.8	7.4	7.8	7.7	6.81%	1Y 1M 10D	3Y 2M 19D
Nippon India Floating Rate Fund Growth	₹46.647 ↑ 0.03	₹8,202	5,000	0.8	2.2	7.3	7.6	7.9	7.06%	1Y 7M 17D	1Y 10M 13D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 3 Funds showcased

Commentary	Aditya Birla Sun Life Floating Rate Fund - Long Term	ICICI Prudential Floating Interest Fund	Nippon India Floating Rate Fund
Point 1	Highest AUM (₹13,416 Cr).	Bottom quartile AUM (₹7,282 Cr).	Lower mid AUM (₹8,202 Cr).
Point 2	Established history (16+ yrs).	Established history (20+ yrs).	Oldest track record among peers (21 yrs).
Point 3	Top rated.	Rating: 3★ (lower mid).	Rating: 3★ (bottom quartile).
Point 4	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Moderately Low.
Point 5	1Y return: 7.25% (bottom quartile).	1Y return: 7.44% (upper mid).	1Y return: 7.32% (lower mid).
Point 6	1M return: 0.20% (lower mid).	1M return: 0.21% (upper mid).	1M return: 0.11% (bottom quartile).
Point 7	Sharpe: 2.19 (upper mid).	Sharpe: 2.17 (lower mid).	Sharpe: 1.33 (bottom quartile).
Point 8	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 6.79% (bottom quartile).	Yield to maturity (debt): 6.81% (lower mid).	Yield to maturity (debt): 7.06% (upper mid).
Point 10	Modified duration: 1.07 yrs (upper mid).	Modified duration: 1.11 yrs (lower mid).	Modified duration: 1.63 yrs (bottom quartile).

Aditya Birla Sun Life Floating Rate Fund - Long Term

Highest AUM (₹13,416 Cr).
Established history (16+ yrs).
Top rated.
Risk profile: Moderately Low.
1Y return: 7.25% (bottom quartile).
1M return: 0.20% (lower mid).
Sharpe: 2.19 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.79% (bottom quartile).
Modified duration: 1.07 yrs (upper mid).

ICICI Prudential Floating Interest Fund

Bottom quartile AUM (₹7,282 Cr).
Established history (20+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
1Y return: 7.44% (upper mid).
1M return: 0.21% (upper mid).
Sharpe: 2.17 (lower mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.81% (lower mid).
Modified duration: 1.11 yrs (lower mid).

Nippon India Floating Rate Fund

Lower mid AUM (₹8,202 Cr).
Oldest track record among peers (21 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 7.32% (lower mid).
1M return: 0.11% (bottom quartile).
Sharpe: 1.33 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.06% (upper mid).
Modified duration: 1.63 yrs (bottom quartile).

Top 5 Best Money Market Mutual Funds

Fund	NAV	Net Assets (Cr)	Min Investment	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
Aditya Birla Sun Life Money Manager Fund Growth	₹383.022 ↑ 0.14	₹27,449	1,000	1.2	2.7	7	7.4	7.4	6.62%	6M 11D	6M 11D
ICICI Prudential Money Market Fund Growth	₹393.286 ↑ 0.18	₹31,851	500	1.4	2.8	7.2	7.4	7.4	6.19%	2M 26D	3M 3D
UTI Money Market Fund Growth	₹3,195.63 ↑ 1.19	₹19,301	10,000	1.3	2.8	7.2	7.5	7.5	6.33%	4M 6D	4M 6D
Kotak Money Market Scheme Growth	₹4,651.19 ↑ 1.85	₹32,188	5,000	1.3	2.8	7.1	7.4	7.4	6.3%	4M 13D	4M 13D
Franklin India Savings Fund Growth	₹51.9903 ↑ 0.02	₹3,830	10,000	1.4	2.8	7.2	7.4	7.4	6.21%	3M 4D	3M 11D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	Aditya Birla Sun Life Money Manager Fund	ICICI Prudential Money Market Fund	UTI Money Market Fund	Kotak Money Market Scheme	Franklin India Savings Fund
Point 1	Lower mid AUM (₹27,449 Cr).	Upper mid AUM (₹31,851 Cr).	Bottom quartile AUM (₹19,301 Cr).	Highest AUM (₹32,188 Cr).	Bottom quartile AUM (₹3,830 Cr).
Point 2	Established history (20+ yrs).	Established history (19+ yrs).	Established history (16+ yrs).	Established history (22+ yrs).	Oldest track record among peers (23 yrs).
Point 3	Top rated.	Rating: 4★ (upper mid).	Rating: 4★ (lower mid).	Rating: 4★ (bottom quartile).	Rating: 3★ (bottom quartile).
Point 4	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Moderately Low.
Point 5	1Y return: 7.02% (bottom quartile).	1Y return: 7.19% (upper mid).	1Y return: 7.18% (lower mid).	1Y return: 7.09% (bottom quartile).	1Y return: 7.20% (top quartile).
Point 6	1M return: 0.30% (bottom quartile).	1M return: 0.39% (upper mid).	1M return: 0.36% (bottom quartile).	1M return: 0.36% (lower mid).	1M return: 0.41% (top quartile).
Point 7	Sharpe: 3.04 (top quartile).	Sharpe: 2.81 (bottom quartile).	Sharpe: 3.02 (upper mid).	Sharpe: 2.84 (lower mid).	Sharpe: 2.75 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 6.62% (top quartile).	Yield to maturity (debt): 6.19% (bottom quartile).	Yield to maturity (debt): 6.33% (upper mid).	Yield to maturity (debt): 6.30% (lower mid).	Yield to maturity (debt): 6.21% (bottom quartile).
Point 10	Modified duration: 0.53 yrs (bottom quartile).	Modified duration: 0.24 yrs (top quartile).	Modified duration: 0.35 yrs (lower mid).	Modified duration: 0.37 yrs (bottom quartile).	Modified duration: 0.26 yrs (upper mid).

Aditya Birla Sun Life Money Manager Fund

Lower mid AUM (₹27,449 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Low.
1Y return: 7.02% (bottom quartile).
1M return: 0.30% (bottom quartile).
Sharpe: 3.04 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.62% (top quartile).
Modified duration: 0.53 yrs (bottom quartile).

ICICI Prudential Money Market Fund

Upper mid AUM (₹31,851 Cr).
Established history (19+ yrs).
Rating: 4★ (upper mid).
Risk profile: Low.
1Y return: 7.19% (upper mid).
1M return: 0.39% (upper mid).
Sharpe: 2.81 (bottom quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.19% (bottom quartile).
Modified duration: 0.24 yrs (top quartile).

UTI Money Market Fund

Bottom quartile AUM (₹19,301 Cr).
Established history (16+ yrs).
Rating: 4★ (lower mid).
Risk profile: Low.
1Y return: 7.18% (lower mid).
1M return: 0.36% (bottom quartile).
Sharpe: 3.02 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.33% (upper mid).
Modified duration: 0.35 yrs (lower mid).

Kotak Money Market Scheme

Highest AUM (₹32,188 Cr).
Established history (22+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Low.
1Y return: 7.09% (bottom quartile).
1M return: 0.36% (lower mid).
Sharpe: 2.84 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.30% (lower mid).
Modified duration: 0.37 yrs (bottom quartile).

Franklin India Savings Fund

Bottom quartile AUM (₹3,830 Cr).
Oldest track record among peers (23 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 7.20% (top quartile).
1M return: 0.41% (top quartile).
Sharpe: 2.75 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.21% (bottom quartile).
Modified duration: 0.26 yrs (upper mid).

Top 5 Short Term Bond Mutual Funds

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
PGIM India Short Maturity Fund Growth	₹39.3202 ↓ 0.00	₹28	1.2	3.1	6.1	4.2		7.18%	1Y 7M 28D	1Y 11M 1D
ICICI Prudential Short Term Fund Growth	₹62.2041 ↑ 0.04	₹20,935	1.1	2.4	7.5	7.6	8	7.32%	2Y 6M 29D	4Y 7M 24D
Nippon India Short Term Fund Growth	₹54.4212 ↑ 0.04	₹9,723	0.7	2.1	7.2	7.4	7.9	0%
Aditya Birla Sun Life Short Term Opportunities Fund Growth	₹49.0155 ↑ 0.04	₹10,575	0.7	2.1	7	7.4	7.7	7.22%	2Y 9M 18D	3Y 6M 25D
UTI Short Term Income Fund Growth	₹32.6129 ↑ 0.02	₹3,181	0.7	1.9	6.7	7.2	7.3	7.02%	2Y 6M 4D	3Y 3M 18D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Sep 23

Research Highlights & Commentary of 5 Funds showcased

Commentary	PGIM India Short Maturity Fund	ICICI Prudential Short Term Fund	Nippon India Short Term Fund	Aditya Birla Sun Life Short Term Opportunities Fund	UTI Short Term Income Fund
Point 1	Bottom quartile AUM (₹28 Cr).	Highest AUM (₹20,935 Cr).	Lower mid AUM (₹9,723 Cr).	Upper mid AUM (₹10,575 Cr).	Bottom quartile AUM (₹3,181 Cr).
Point 2	Established history (23+ yrs).	Oldest track record among peers (24 yrs).	Established history (23+ yrs).	Established history (22+ yrs).	Established history (18+ yrs).
Point 3	Top rated.	Rating: 4★ (upper mid).	Rating: 4★ (lower mid).	Rating: 4★ (bottom quartile).	Rating: 4★ (bottom quartile).
Point 4	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Moderate.
Point 5	1Y return: 6.08% (bottom quartile).	1Y return: 7.47% (top quartile).	1Y return: 7.22% (upper mid).	1Y return: 6.98% (lower mid).	1Y return: 6.72% (bottom quartile).
Point 6	1M return: 0.43% (top quartile).	1M return: 0.18% (upper mid).	1M return: 0.09% (lower mid).	1M return: -0.02% (bottom quartile).	1M return: 0.04% (bottom quartile).
Point 7	Sharpe: -0.98 (bottom quartile).	Sharpe: 1.58 (top quartile).	Sharpe: 1.15 (upper mid).	Sharpe: 1.14 (lower mid).	Sharpe: 0.96 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 7.18% (lower mid).	Yield to maturity (debt): 7.32% (top quartile).	Yield to maturity (debt): 0.00% (bottom quartile).	Yield to maturity (debt): 7.22% (upper mid).	Yield to maturity (debt): 7.02% (bottom quartile).
Point 10	Modified duration: 1.66 yrs (upper mid).	Modified duration: 2.58 yrs (bottom quartile).	Modified duration: 0.00 yrs (top quartile).	Modified duration: 2.80 yrs (bottom quartile).	Modified duration: 2.51 yrs (lower mid).

PGIM India Short Maturity Fund

Bottom quartile AUM (₹28 Cr).
Established history (23+ yrs).
Top rated.
Risk profile: Moderate.
1Y return: 6.08% (bottom quartile).
1M return: 0.43% (top quartile).
Sharpe: -0.98 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.18% (lower mid).
Modified duration: 1.66 yrs (upper mid).

ICICI Prudential Short Term Fund

Highest AUM (₹20,935 Cr).
Oldest track record among peers (24 yrs).
Rating: 4★ (upper mid).
Risk profile: Moderate.
1Y return: 7.47% (top quartile).
1M return: 0.18% (upper mid).
Sharpe: 1.58 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 7.32% (top quartile).
Modified duration: 2.58 yrs (bottom quartile).

Nippon India Short Term Fund

Lower mid AUM (₹9,723 Cr).
Established history (23+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately Low.
1Y return: 7.22% (upper mid).
1M return: 0.09% (lower mid).
Sharpe: 1.15 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 0.00% (bottom quartile).
Modified duration: 0.00 yrs (top quartile).

Aditya Birla Sun Life Short Term Opportunities Fund

Upper mid AUM (₹10,575 Cr).
Established history (22+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderate.
1Y return: 6.98% (lower mid).
1M return: -0.02% (bottom quartile).
Sharpe: 1.14 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.22% (upper mid).
Modified duration: 2.80 yrs (bottom quartile).

UTI Short Term Income Fund

Bottom quartile AUM (₹3,181 Cr).
Established history (18+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderate.
1Y return: 6.72% (bottom quartile).
1M return: 0.04% (bottom quartile).
Sharpe: 0.96 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.02% (bottom quartile).
Modified duration: 2.51 yrs (lower mid).

Top 5 Medium to Long Term Bond Mutual Funds

Top Medium to Long Term Bond funds with AUM/Net Assets > 500 Crore.

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
SBI Magnum Income Fund Growth	₹71.7079 ↑ 0.06	₹2,159	0.4	1	5	6.9	5.9	7.32%	5Y 22D	8Y 10M 13D
ICICI Prudential Bond Fund Growth	₹41.0674 ↑ 0.04	₹2,922	0.9	1.2	6.1	7.6	6.7	7.14%	5Y 9M 14D	16Y 11D
Aditya Birla Sun Life Income Fund Growth	₹126.589 ↑ 0.12	₹2,035	0.2	0.4	4.3	6.5	5.1	7.24%	6Y 8M 23D	14Y 5M 23D
Kotak Bond Fund Growth	₹77.585 ↑ 0.06	₹2,064	0.2	0.5	4.5	6.7	5.4	6.96%	5Y 11M 19D	12Y 7D
HDFC Income Fund Growth	₹58.7491 ↑ 0.04	₹881	0.5	0.4	4.4	6.7	5.5	6.98%	6Y 9M 14D	13Y 22D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	SBI Magnum Income Fund	ICICI Prudential Bond Fund	Aditya Birla Sun Life Income Fund	Kotak Bond Fund	HDFC Income Fund
Point 1	Upper mid AUM (₹2,159 Cr).	Highest AUM (₹2,922 Cr).	Bottom quartile AUM (₹2,035 Cr).	Lower mid AUM (₹2,064 Cr).	Bottom quartile AUM (₹881 Cr).
Point 2	Established history (27+ yrs).	Established history (17+ yrs).	Oldest track record among peers (30 yrs).	Established history (26+ yrs).	Established history (25+ yrs).
Point 3	Top rated.	Rating: 3★ (upper mid).	Rating: 3★ (lower mid).	Rating: 2★ (bottom quartile).	Rating: 2★ (bottom quartile).
Point 4	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.
Point 5	1Y return: 5.02% (upper mid).	1Y return: 6.15% (top quartile).	1Y return: 4.25% (bottom quartile).	1Y return: 4.49% (lower mid).	1Y return: 4.44% (bottom quartile).
Point 6	1M return: -0.06% (upper mid).	1M return: 0.26% (top quartile).	1M return: -0.08% (bottom quartile).	1M return: -0.07% (lower mid).	1M return: -0.10% (bottom quartile).
Point 7	Sharpe: -0.05 (upper mid).	Sharpe: 0.22 (top quartile).	Sharpe: -0.27 (bottom quartile).	Sharpe: -0.19 (bottom quartile).	Sharpe: -0.15 (lower mid).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 7.32% (top quartile).	Yield to maturity (debt): 7.14% (lower mid).	Yield to maturity (debt): 7.24% (upper mid).	Yield to maturity (debt): 6.96% (bottom quartile).	Yield to maturity (debt): 6.98% (bottom quartile).
Point 10	Modified duration: 5.06 yrs (top quartile).	Modified duration: 5.79 yrs (upper mid).	Modified duration: 6.73 yrs (bottom quartile).	Modified duration: 5.97 yrs (lower mid).	Modified duration: 6.79 yrs (bottom quartile).

SBI Magnum Income Fund

Upper mid AUM (₹2,159 Cr).
Established history (27+ yrs).
Top rated.
Risk profile: Moderate.
1Y return: 5.02% (upper mid).
1M return: -0.06% (upper mid).
Sharpe: -0.05 (upper mid).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.32% (top quartile).
Modified duration: 5.06 yrs (top quartile).

ICICI Prudential Bond Fund

Highest AUM (₹2,922 Cr).
Established history (17+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderate.
1Y return: 6.15% (top quartile).
1M return: 0.26% (top quartile).
Sharpe: 0.22 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 7.14% (lower mid).
Modified duration: 5.79 yrs (upper mid).

Aditya Birla Sun Life Income Fund

Bottom quartile AUM (₹2,035 Cr).
Oldest track record among peers (30 yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
1Y return: 4.25% (bottom quartile).
1M return: -0.08% (bottom quartile).
Sharpe: -0.27 (bottom quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 7.24% (upper mid).
Modified duration: 6.73 yrs (bottom quartile).

Kotak Bond Fund

Lower mid AUM (₹2,064 Cr).
Established history (26+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderate.
1Y return: 4.49% (lower mid).
1M return: -0.07% (lower mid).
Sharpe: -0.19 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.96% (bottom quartile).
Modified duration: 5.97 yrs (lower mid).

HDFC Income Fund

Bottom quartile AUM (₹881 Cr).
Established history (25+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderate.
1Y return: 4.44% (bottom quartile).
1M return: -0.10% (bottom quartile).
Sharpe: -0.15 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.98% (bottom quartile).
Modified duration: 6.79 yrs (bottom quartile).

Top 5 Banking and PSU Debt Mutual Funds

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
UTI Banking & PSU Debt Fund Growth	₹22.6364 ↑ 0.02	₹1,015	0.9	2.3	7.3	7.3	7.8	6.67%	1Y 3M 11D	1Y 5M 8D
HDFC Banking and PSU Debt Fund Growth	₹23.6237 ↑ 0.02	₹5,719	0.5	1.8	6.7	7.2	7.5	6.99%	3Y 2M 19D	4Y 6M 18D
ICICI Prudential Banking and PSU Debt Fund Growth	₹33.7588 ↑ 0.03	₹9,728	1	2.3	7.1	7.5	7.6	6.93%	2Y 7M 6D	5Y
Kotak Banking and PSU Debt fund Growth	₹67.3831 ↑ 0.05	₹5,608	0.9	2.2	7	7.4	7.7	6.93%	3Y 1M 17D	4Y 9M 4D
Aditya Birla Sun Life Banking & PSU Debt Fund Growth	₹376.092 ↑ 0.33	₹9,064	0.4	1.7	6.5	7.2	7.3	7.02%	3Y 6M 29D	4Y 10M 13D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	UTI Banking & PSU Debt Fund	HDFC Banking and PSU Debt Fund	ICICI Prudential Banking and PSU Debt Fund	Kotak Banking and PSU Debt fund	Aditya Birla Sun Life Banking & PSU Debt Fund
Point 1	Bottom quartile AUM (₹1,015 Cr).	Lower mid AUM (₹5,719 Cr).	Highest AUM (₹9,728 Cr).	Bottom quartile AUM (₹5,608 Cr).	Upper mid AUM (₹9,064 Cr).
Point 2	Established history (12+ yrs).	Established history (11+ yrs).	Established history (16+ yrs).	Oldest track record among peers (27 yrs).	Established history (17+ yrs).
Point 3	Top rated.	Rating: 5★ (upper mid).	Rating: 4★ (lower mid).	Rating: 4★ (bottom quartile).	Rating: 4★ (bottom quartile).
Point 4	Risk profile: Moderate.	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Moderately Low.	Risk profile: Moderate.
Point 5	1Y return: 7.30% (top quartile).	1Y return: 6.65% (bottom quartile).	1Y return: 7.06% (upper mid).	1Y return: 7.03% (lower mid).	1Y return: 6.52% (bottom quartile).
Point 6	1M return: 0.16% (top quartile).	1M return: -0.06% (bottom quartile).	1M return: 0.11% (upper mid).	1M return: 0.05% (lower mid).	1M return: -0.05% (bottom quartile).
Point 7	Sharpe: 1.48 (top quartile).	Sharpe: 0.74 (bottom quartile).	Sharpe: 1.11 (upper mid).	Sharpe: 0.86 (lower mid).	Sharpe: 0.67 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 6.67% (bottom quartile).	Yield to maturity (debt): 6.99% (upper mid).	Yield to maturity (debt): 6.93% (lower mid).	Yield to maturity (debt): 6.93% (bottom quartile).	Yield to maturity (debt): 7.02% (top quartile).
Point 10	Modified duration: 1.28 yrs (top quartile).	Modified duration: 3.22 yrs (bottom quartile).	Modified duration: 2.60 yrs (upper mid).	Modified duration: 3.13 yrs (lower mid).	Modified duration: 3.58 yrs (bottom quartile).

UTI Banking & PSU Debt Fund

Bottom quartile AUM (₹1,015 Cr).
Established history (12+ yrs).
Top rated.
Risk profile: Moderate.
1Y return: 7.30% (top quartile).
1M return: 0.16% (top quartile).
Sharpe: 1.48 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.67% (bottom quartile).
Modified duration: 1.28 yrs (top quartile).

HDFC Banking and PSU Debt Fund

Lower mid AUM (₹5,719 Cr).
Established history (11+ yrs).
Rating: 5★ (upper mid).
Risk profile: Moderately Low.
1Y return: 6.65% (bottom quartile).
1M return: -0.06% (bottom quartile).
Sharpe: 0.74 (bottom quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.99% (upper mid).
Modified duration: 3.22 yrs (bottom quartile).

ICICI Prudential Banking and PSU Debt Fund

Highest AUM (₹9,728 Cr).
Established history (16+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderate.
1Y return: 7.06% (upper mid).
1M return: 0.11% (upper mid).
Sharpe: 1.11 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.93% (lower mid).
Modified duration: 2.60 yrs (upper mid).

Kotak Banking and PSU Debt fund

Bottom quartile AUM (₹5,608 Cr).
Oldest track record among peers (27 yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 7.03% (lower mid).
1M return: 0.05% (lower mid).
Sharpe: 0.86 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.93% (bottom quartile).
Modified duration: 3.13 yrs (lower mid).

Aditya Birla Sun Life Banking & PSU Debt Fund

Upper mid AUM (₹9,064 Cr).
Established history (17+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderate.
1Y return: 6.52% (bottom quartile).
1M return: -0.05% (bottom quartile).
Sharpe: 0.67 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.02% (top quartile).
Modified duration: 3.58 yrs (bottom quartile).

Top 5 Credit Risk Mutual Funds

Top Credit Risk funds with AUM/Net Assets > 500 Crore.

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
HDFC Credit Risk Debt Fund Growth	₹24.9007 ↑ 0.02	₹6,974	1	2.7	7.4	7.5	8	8.1%	2Y 5M 16D	3Y 11M 5D
SBI Credit Risk Fund Growth	₹47.1741 ↑ 0.03	₹2,175	1.1	2.6	7.4	8	7.9	8.15%	2Y 1M 24D	2Y 10M 17D
Kotak Credit Risk Fund Growth	₹30.6947 ↑ 0.03	₹707	1.1	3.3	8.5	7.5	9.1	7.8%	1Y 9M 11D	2Y 1M 13D
Nippon India Credit Risk Fund Growth	₹36.4037 ↑ 0.03	₹1,016	1.2	2.9	8.5	8.3	8.9	6.91%	8M 19D	9M 7D
ICICI Prudential Regular Savings Fund Growth	₹33.3259 ↑ 0.02	₹5,920	1.7	3.9	9.1	8.4	9.5	8.28%	1Y 10M 24D	2Y 11M 19D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	HDFC Credit Risk Debt Fund	SBI Credit Risk Fund	Kotak Credit Risk Fund	Nippon India Credit Risk Fund	ICICI Prudential Regular Savings Fund
Point 1	Highest AUM (₹6,974 Cr).	Lower mid AUM (₹2,175 Cr).	Bottom quartile AUM (₹707 Cr).	Bottom quartile AUM (₹1,016 Cr).	Upper mid AUM (₹5,920 Cr).
Point 2	Established history (11+ yrs).	Oldest track record among peers (21 yrs).	Established history (15+ yrs).	Established history (20+ yrs).	Established history (15+ yrs).
Point 3	Top rated.	Rating: 4★ (upper mid).	Rating: 3★ (lower mid).	Rating: 2★ (bottom quartile).	Rating: 1★ (bottom quartile).
Point 4	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Moderate.
Point 5	1Y return: 7.42% (bottom quartile).	1Y return: 7.40% (bottom quartile).	1Y return: 8.54% (upper mid).	1Y return: 8.49% (lower mid).	1Y return: 9.13% (top quartile).
Point 6	1M return: 0.23% (bottom quartile).	1M return: 0.20% (bottom quartile).	1M return: 0.42% (upper mid).	1M return: 0.28% (lower mid).	1M return: 0.56% (top quartile).
Point 7	Sharpe: 1.63 (bottom quartile).	Sharpe: 1.80 (bottom quartile).	Sharpe: 2.21 (lower mid).	Sharpe: 2.73 (upper mid).	Sharpe: 3.32 (top quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 8.10% (lower mid).	Yield to maturity (debt): 8.15% (upper mid).	Yield to maturity (debt): 7.80% (bottom quartile).	Yield to maturity (debt): 6.91% (bottom quartile).	Yield to maturity (debt): 8.28% (top quartile).
Point 10	Modified duration: 2.46 yrs (bottom quartile).	Modified duration: 2.15 yrs (bottom quartile).	Modified duration: 1.78 yrs (upper mid).	Modified duration: 0.72 yrs (top quartile).	Modified duration: 1.90 yrs (lower mid).

HDFC Credit Risk Debt Fund

Highest AUM (₹6,974 Cr).
Established history (11+ yrs).
Top rated.
Risk profile: Moderate.
1Y return: 7.42% (bottom quartile).
1M return: 0.23% (bottom quartile).
Sharpe: 1.63 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 8.10% (lower mid).
Modified duration: 2.46 yrs (bottom quartile).

SBI Credit Risk Fund

Lower mid AUM (₹2,175 Cr).
Oldest track record among peers (21 yrs).
Rating: 4★ (upper mid).
Risk profile: Moderate.
1Y return: 7.40% (bottom quartile).
1M return: 0.20% (bottom quartile).
Sharpe: 1.80 (bottom quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 8.15% (upper mid).
Modified duration: 2.15 yrs (bottom quartile).

Kotak Credit Risk Fund

Bottom quartile AUM (₹707 Cr).
Established history (15+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
1Y return: 8.54% (upper mid).
1M return: 0.42% (upper mid).
Sharpe: 2.21 (lower mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 7.80% (bottom quartile).
Modified duration: 1.78 yrs (upper mid).

Nippon India Credit Risk Fund

Bottom quartile AUM (₹1,016 Cr).
Established history (20+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderate.
1Y return: 8.49% (lower mid).
1M return: 0.28% (lower mid).
Sharpe: 2.73 (upper mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.91% (bottom quartile).
Modified duration: 0.72 yrs (top quartile).

ICICI Prudential Regular Savings Fund

Upper mid AUM (₹5,920 Cr).
Established history (15+ yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderate.
1Y return: 9.13% (top quartile).
1M return: 0.56% (top quartile).
Sharpe: 3.32 (top quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 8.28% (top quartile).
Modified duration: 1.90 yrs (lower mid).

Top 5 Dynamic Bond Mutual Funds

Top Dynamic Bond funds with AUM/Net Assets > 500 Crore.

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
SBI Dynamic Bond Fund Growth	₹36.239 ↑ 0.03	₹4,469	0.5	1.2	5	7	5.5	6.49%	2Y 10M 24D	4Y 4M 17D
Axis Dynamic Bond Fund Growth	₹30.2643 ↑ 0.02	₹1,175	0.6	1.6	6.2	7.3	7.1	6.7%	5Y 5M 16D	10Y 5M 1D
Aditya Birla Sun Life Dynamic Bond Fund Growth	₹47.3393 ↑ 0.05	₹1,878	0.6	1.4	6.1	7.4	7	7.69%	6Y 11D	12Y 7M 28D
HDFC Dynamic Debt Fund Growth	₹90.3418 ↑ 0.07	₹727	0.5	0.5	4	6.6	4.7	7.03%	7Y 1M 10D	17Y 9M 18D
Bandhan Dynamic Bond Fund Growth	₹34.0502 ↑ 0.02	₹2,435	0.5	0.5	2.9	6.4	3.4	6.69%	3Y 5M 1D	4Y 1M 10D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	SBI Dynamic Bond Fund	Axis Dynamic Bond Fund	Aditya Birla Sun Life Dynamic Bond Fund	HDFC Dynamic Debt Fund	Bandhan Dynamic Bond Fund
Point 1	Highest AUM (₹4,469 Cr).	Bottom quartile AUM (₹1,175 Cr).	Lower mid AUM (₹1,878 Cr).	Bottom quartile AUM (₹727 Cr).	Upper mid AUM (₹2,435 Cr).
Point 2	Established history (21+ yrs).	Established history (14+ yrs).	Established history (21+ yrs).	Oldest track record among peers (28 yrs).	Established history (17+ yrs).
Point 3	Top rated.	Rating: 3★ (upper mid).	Rating: 3★ (lower mid).	Rating: 3★ (bottom quartile).	Rating: 3★ (bottom quartile).
Point 4	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.
Point 5	1Y return: 5.01% (lower mid).	1Y return: 6.24% (top quartile).	1Y return: 6.14% (upper mid).	1Y return: 3.97% (bottom quartile).	1Y return: 2.86% (bottom quartile).
Point 6	1M return: 0.19% (top quartile).	1M return: -0.03% (bottom quartile).	1M return: 0.08% (lower mid).	1M return: 0.17% (upper mid).	1M return: 0.02% (bottom quartile).
Point 7	Sharpe: -0.17 (lower mid).	Sharpe: 0.32 (top quartile).	Sharpe: 0.30 (upper mid).	Sharpe: -0.34 (bottom quartile).	Sharpe: -0.45 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 6.49% (bottom quartile).	Yield to maturity (debt): 6.70% (lower mid).	Yield to maturity (debt): 7.69% (top quartile).	Yield to maturity (debt): 7.03% (upper mid).	Yield to maturity (debt): 6.69% (bottom quartile).
Point 10	Modified duration: 2.90 yrs (top quartile).	Modified duration: 5.46 yrs (lower mid).	Modified duration: 6.03 yrs (bottom quartile).	Modified duration: 7.11 yrs (bottom quartile).	Modified duration: 3.42 yrs (upper mid).

SBI Dynamic Bond Fund

Highest AUM (₹4,469 Cr).
Established history (21+ yrs).
Top rated.
Risk profile: Moderate.
1Y return: 5.01% (lower mid).
1M return: 0.19% (top quartile).
Sharpe: -0.17 (lower mid).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.49% (bottom quartile).
Modified duration: 2.90 yrs (top quartile).

Axis Dynamic Bond Fund

Bottom quartile AUM (₹1,175 Cr).
Established history (14+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderate.
1Y return: 6.24% (top quartile).
1M return: -0.03% (bottom quartile).
Sharpe: 0.32 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.70% (lower mid).
Modified duration: 5.46 yrs (lower mid).

Aditya Birla Sun Life Dynamic Bond Fund

Lower mid AUM (₹1,878 Cr).
Established history (21+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
1Y return: 6.14% (upper mid).
1M return: 0.08% (lower mid).
Sharpe: 0.30 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 7.69% (top quartile).
Modified duration: 6.03 yrs (bottom quartile).

HDFC Dynamic Debt Fund

Bottom quartile AUM (₹727 Cr).
Oldest track record among peers (28 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderate.
1Y return: 3.97% (bottom quartile).
1M return: 0.17% (upper mid).
Sharpe: -0.34 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.03% (upper mid).
Modified duration: 7.11 yrs (bottom quartile).

Bandhan Dynamic Bond Fund

Upper mid AUM (₹2,435 Cr).
Established history (17+ yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderate.
1Y return: 2.86% (bottom quartile).
1M return: 0.02% (bottom quartile).
Sharpe: -0.45 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.69% (bottom quartile).
Modified duration: 3.42 yrs (upper mid).

Top 5 Corporate Bond Mutual Funds

Top Corporate Bond funds with AUM/Net Assets > 500 Crore.

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
HDFC Corporate Bond Fund Growth	₹33.3601 ↑ 0.03	₹34,805	0.4	1.6	6.4	7.5	7.3	7.13%	4Y 6M 11D	7Y 9M 18D
Aditya Birla Sun Life Corporate Bond Fund Growth	₹115.736 ↑ 0.12	₹29,856	0.5	1.6	6.4	7.5	7.4	7.12%	4Y 10M 24D	7Y 6M 14D
ICICI Prudential Corporate Bond Fund Growth	₹30.8304 ↑ 0.02	₹33,871	0.9	2.4	7.4	7.8	8	7.02%	2Y 11M 1D	5Y 5M 12D
Kotak Corporate Bond Fund Standard Growth	₹3,886.28 ↑ 4.18	₹18,841	0.7	2	7.1	7.5	7.8	7.04%	2Y 11M 12D	4Y 6M 14D
Nippon India Prime Debt Fund Growth	₹61.6804 ↑ 0.05	₹10,431	0.6	1.8	7	7.6	7.8	7.71%	3Y 10M 20D	5Y 9M 29D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	HDFC Corporate Bond Fund	Aditya Birla Sun Life Corporate Bond Fund	ICICI Prudential Corporate Bond Fund	Kotak Corporate Bond Fund Standard	Nippon India Prime Debt Fund
Point 1	Highest AUM (₹34,805 Cr).	Lower mid AUM (₹29,856 Cr).	Upper mid AUM (₹33,871 Cr).	Bottom quartile AUM (₹18,841 Cr).	Bottom quartile AUM (₹10,431 Cr).
Point 2	Established history (15+ yrs).	Oldest track record among peers (28 yrs).	Established history (16+ yrs).	Established history (18+ yrs).	Established history (25+ yrs).
Point 3	Top rated.	Rating: 5★ (upper mid).	Rating: 4★ (lower mid).	Rating: 4★ (bottom quartile).	Rating: 4★ (bottom quartile).
Point 4	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.
Point 5	1Y return: 6.43% (bottom quartile).	1Y return: 6.39% (bottom quartile).	1Y return: 7.42% (top quartile).	1Y return: 7.10% (upper mid).	1Y return: 7.02% (lower mid).
Point 6	1M return: -0.12% (bottom quartile).	1M return: -0.13% (bottom quartile).	1M return: 0.15% (top quartile).	1M return: 0.05% (upper mid).	1M return: 0.03% (lower mid).
Point 7	Sharpe: 0.63 (bottom quartile).	Sharpe: 0.66 (bottom quartile).	Sharpe: 1.43 (top quartile).	Sharpe: 1.02 (upper mid).	Sharpe: 0.87 (lower mid).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 7.13% (upper mid).	Yield to maturity (debt): 7.12% (lower mid).	Yield to maturity (debt): 7.02% (bottom quartile).	Yield to maturity (debt): 7.04% (bottom quartile).	Yield to maturity (debt): 7.71% (top quartile).
Point 10	Modified duration: 4.53 yrs (bottom quartile).	Modified duration: 4.90 yrs (bottom quartile).	Modified duration: 2.92 yrs (top quartile).	Modified duration: 2.95 yrs (upper mid).	Modified duration: 3.89 yrs (lower mid).

HDFC Corporate Bond Fund

Highest AUM (₹34,805 Cr).
Established history (15+ yrs).
Top rated.
Risk profile: Moderately Low.
1Y return: 6.43% (bottom quartile).
1M return: -0.12% (bottom quartile).
Sharpe: 0.63 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.13% (upper mid).
Modified duration: 4.53 yrs (bottom quartile).

Aditya Birla Sun Life Corporate Bond Fund

Lower mid AUM (₹29,856 Cr).
Oldest track record among peers (28 yrs).
Rating: 5★ (upper mid).
Risk profile: Moderately Low.
1Y return: 6.39% (bottom quartile).
1M return: -0.13% (bottom quartile).
Sharpe: 0.66 (bottom quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 7.12% (lower mid).
Modified duration: 4.90 yrs (bottom quartile).

ICICI Prudential Corporate Bond Fund

Upper mid AUM (₹33,871 Cr).
Established history (16+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately Low.
1Y return: 7.42% (top quartile).
1M return: 0.15% (top quartile).
Sharpe: 1.43 (top quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 7.02% (bottom quartile).
Modified duration: 2.92 yrs (top quartile).

Kotak Corporate Bond Fund Standard

Bottom quartile AUM (₹18,841 Cr).
Established history (18+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 7.10% (upper mid).
1M return: 0.05% (upper mid).
Sharpe: 1.02 (upper mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.04% (bottom quartile).
Modified duration: 2.95 yrs (upper mid).

Nippon India Prime Debt Fund

Bottom quartile AUM (₹10,431 Cr).
Established history (25+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 7.02% (lower mid).
1M return: 0.03% (lower mid).
Sharpe: 0.87 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.71% (top quartile).
Modified duration: 3.89 yrs (lower mid).

Top 5 Gilt Mutual Funds

Top GILT funds with AUM/Net Assets > 500 Crore.

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
ICICI Prudential Gilt Fund Growth	₹105.054 ↑ 0.10	₹9,181	1	1.2	6.4	7.8	6.8	7.25%	6Y 6M 7D	18Y 4M 17D
SBI Magnum Constant Maturity Fund Growth	₹64.7696 ↑ 0.04	₹1,801	0.7	0.9	5.7	7.7	6.7	6.79%	6Y 11M 8D	9Y 10M 2D
UTI Gilt Fund Growth	₹63.632 ↑ 0.11	₹545	1	0.8	4.5	6.9	5.1	6.65%	5Y 2M 1D	7Y 1M 2D
SBI Magnum Gilt Fund Growth	₹66.5257 ↑ 0.08	₹10,817	0.4	0.6	4	7	4.5	6.44%	5Y 1M 6D	8Y 2M 16D
Nippon India Gilt Securities Fund Growth	₹37.9676 ↑ 0.03	₹1,850	0.1	-0.4	2.7	6.3	3.7	0%
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jan 26

Research Highlights & Commentary of 5 Funds showcased

Commentary	ICICI Prudential Gilt Fund	SBI Magnum Constant Maturity Fund	UTI Gilt Fund	SBI Magnum Gilt Fund	Nippon India Gilt Securities Fund
Point 1	Upper mid AUM (₹9,181 Cr).	Bottom quartile AUM (₹1,801 Cr).	Bottom quartile AUM (₹545 Cr).	Highest AUM (₹10,817 Cr).	Lower mid AUM (₹1,850 Cr).
Point 2	Oldest track record among peers (26 yrs).	Established history (25+ yrs).	Established history (24+ yrs).	Established history (25+ yrs).	Established history (17+ yrs).
Point 3	Top rated.	Rating: 4★ (upper mid).	Rating: 4★ (lower mid).	Rating: 4★ (bottom quartile).	Rating: 4★ (bottom quartile).
Point 4	Risk profile: Moderate.	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderate.
Point 5	1Y return: 6.35% (top quartile).	1Y return: 5.65% (upper mid).	1Y return: 4.47% (lower mid).	1Y return: 4.02% (bottom quartile).	1Y return: 2.67% (bottom quartile).
Point 6	1M return: 0.36% (top quartile).	1M return: -0.13% (bottom quartile).	1M return: 0.25% (upper mid).	1M return: 0.19% (lower mid).	1M return: -0.12% (bottom quartile).
Point 7	Sharpe: 0.24 (top quartile).	Sharpe: 0.21 (upper mid).	Sharpe: -0.20 (lower mid).	Sharpe: -0.32 (bottom quartile).	Sharpe: -0.47 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 7.25% (top quartile).	Yield to maturity (debt): 6.79% (upper mid).	Yield to maturity (debt): 6.65% (lower mid).	Yield to maturity (debt): 6.44% (bottom quartile).	Yield to maturity (debt): 0.00% (bottom quartile).
Point 10	Modified duration: 6.52 yrs (bottom quartile).	Modified duration: 6.94 yrs (bottom quartile).	Modified duration: 5.17 yrs (lower mid).	Modified duration: 5.10 yrs (upper mid).	Modified duration: 0.00 yrs (top quartile).

ICICI Prudential Gilt Fund

Upper mid AUM (₹9,181 Cr).
Oldest track record among peers (26 yrs).
Top rated.
Risk profile: Moderate.
1Y return: 6.35% (top quartile).
1M return: 0.36% (top quartile).
Sharpe: 0.24 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.25% (top quartile).
Modified duration: 6.52 yrs (bottom quartile).

SBI Magnum Constant Maturity Fund

Bottom quartile AUM (₹1,801 Cr).
Established history (25+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderately Low.
1Y return: 5.65% (upper mid).
1M return: -0.13% (bottom quartile).
Sharpe: 0.21 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.79% (upper mid).
Modified duration: 6.94 yrs (bottom quartile).

UTI Gilt Fund

Bottom quartile AUM (₹545 Cr).
Established history (24+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderate.
1Y return: 4.47% (lower mid).
1M return: 0.25% (upper mid).
Sharpe: -0.20 (lower mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.65% (lower mid).
Modified duration: 5.17 yrs (lower mid).

SBI Magnum Gilt Fund

Highest AUM (₹10,817 Cr).
Established history (25+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderate.
1Y return: 4.02% (bottom quartile).
1M return: 0.19% (lower mid).
Sharpe: -0.32 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.44% (bottom quartile).
Modified duration: 5.10 yrs (upper mid).

Nippon India Gilt Securities Fund

Lower mid AUM (₹1,850 Cr).
Established history (17+ yrs).
Rating: 4★ (bottom quartile).
Risk profile: Moderate.
1Y return: 2.67% (bottom quartile).
1M return: -0.12% (bottom quartile).
Sharpe: -0.47 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 0.00% (bottom quartile).
Modified duration: 0.00 yrs (top quartile).

1. PGIM India Credit Risk Fund

(Erstwhile DHFL Pramerica Credit Opportunities Fund)

The investment objective of the Scheme is to generate income and capital appreciation by investing predominantly in corporate debt. There can be no assurance that the investment objective of the Scheme will be realized.

Research Highlights for PGIM India Credit Risk Fund

Bottom quartile AUM (₹39 Cr).
Established history (11+ yrs).
Top rated.
Risk profile: Moderate.
1Y return: 8.43% (top quartile).
1M return: 0.27% (lower mid).
Sharpe: 1.73 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 5.01% (bottom quartile).
Modified duration: 0.54 yrs (lower mid).
Average maturity: 0.59 yrs (lower mid).
Exit load: 0-1 Years (1%),1 Years and above(NIL).

Below is the key information for PGIM India Credit Risk Fund

PGIM India Credit Risk Fund Growth
Launch Date	29 Sep 14
NAV (21 Jan 22)	₹15.5876 ↑ 0.00 (0.01 %)
Net Assets (Cr)	₹39 on 31 Dec 21
Category	Debt - Credit Risk
AMC	Pramerica Asset Managers Private Limited
Rating	☆☆☆☆☆
Risk	Moderate
Expense Ratio	1.85
Sharpe Ratio	1.73
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	0-1 Years (1%),1 Years and above(NIL)
Yield to Maturity	5.01%
Effective Maturity	7 Months 2 Days
Modified Duration	6 Months 14 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,860

PGIM India Credit Risk Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹194,235.
Net Profit of ₹14,235 Invest Now

Returns for PGIM India Credit Risk Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jan 22

Duration	Returns
1 Month	0.3%
3 Month	0.6%
6 Month	4.4%
1 Year	8.4%
3 Year	3%
5 Year	4.2%
10 Year
15 Year
Since launch	6.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015

Fund Manager information for PGIM India Credit Risk Fund

Name	Since	Tenure

Data below for PGIM India Credit Risk Fund as on 31 Dec 21

Asset Allocation

Asset Class	Value

Debt Sector Allocation

Sector	Value

Credit Quality

Rating	Value

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity

2. Axis Credit Risk Fund

(Erstwhile Axis Fixed Income Opportunities Fund)

To generate stable returns by investing in debt & money market instruments across the yield curve & credit spectrum. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns

Research Highlights for Axis Credit Risk Fund

Bottom quartile AUM (₹368 Cr).
Established history (11+ yrs).
Rating: 5★ (upper mid).
Risk profile: Moderate.
1Y return: 8.25% (upper mid).
1M return: 0.19% (bottom quartile).
Sharpe: 2.72 (lower mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 8.22% (top quartile).
Modified duration: 2.16 yrs (bottom quartile).
Average maturity: 2.49 yrs (bottom quartile).
Exit load: 0-12 Months (1%),12 Months and above(NIL).
Top sector: Real Estate.
Higher exposure to Corporate (bond sector) vs peer median.
Debt-heavy allocation (~89%).
High-quality debt (AAA/AA ~81%).
Largest holding 7.18% Govt Stock 2033 (~4.8%).

Below is the key information for Axis Credit Risk Fund

Axis Credit Risk Fund Growth
Launch Date	15 Jul 14
NAV (30 Jan 26)	₹22.2932 ↑ 0.03 (0.12 %)
Net Assets (Cr)	₹368 on 31 Dec 25
Category	Debt - Credit Risk
AMC	Axis Asset Management Company Limited
Rating	☆☆☆☆☆
Risk	Moderate
Expense Ratio	1.57
Sharpe Ratio	2.72
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	0-12 Months (1%),12 Months and above(NIL)
Yield to Maturity	8.22%
Effective Maturity	2 Years 5 Months 26 Days
Modified Duration	2 Years 1 Month 28 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,598
31 Dec 22	₹11,024
31 Dec 23	₹11,797
31 Dec 24	₹12,746
31 Dec 25	₹13,861

Axis Credit Risk Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Axis Credit Risk Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jan 22

Duration	Returns
1 Month	0.2%
3 Month	1.3%
6 Month	3.3%
1 Year	8.2%
3 Year	7.8%
5 Year	6.7%
10 Year
15 Year
Since launch	7.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	8.7%
2023	8%
2022	7%
2021	4%
2020	6%
2019	8.2%
2018	4.4%
2017	5.9%
2016	6.4%
2015	9.8%

Fund Manager information for Axis Credit Risk Fund

Name	Since	Tenure
Devang Shah	15 Jul 14	11.47 Yr.
Akhil Thakker	9 Nov 21	4.15 Yr.

Data below for Axis Credit Risk Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	6.38%
Equity	4.52%
Debt	88.61%
Other	0.49%

Debt Sector Allocation

Sector	Value
Corporate	80.5%
Government	8.11%
Cash Equivalent	6.38%

Credit Quality

Rating	Value
A	19.37%
AA	62.19%
AAA	18.45%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
7.18% Govt Stock 2033 Sovereign Bonds \| -	5%	₹18 Cr	1,700,000 ↑ 500,000
Jubilant Bevco Limited Debentures \| -	4%	₹16 Cr	1,500
Jtpm Metal TRaders Limited Debentures \| -	4%	₹15 Cr	1,500
Narayana Hrudayalaya Limited Debentures \| -	4%	₹15 Cr	1,500
Aditya Birla Renewables Limited Debentures \| -	4%	₹15 Cr	1,500
Altius Telecom Infrastructure Trust Debentures \| -	4%	₹15 Cr	1,500
Infopark Properties Limited Debentures \| -	4%	₹15 Cr	1,500
Aditya Birla Digital Fashion Ventures Limited Debentures \| -	4%	₹15 Cr	1,500
Vedanta Limited Debentures \| -	3%	₹12 Cr	1,200
Jubilant Beverages Limited Debentures \| -	3%	₹11 Cr	1,000

3. UTI Banking & PSU Debt Fund

The investment objective of the scheme is to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of predominantly debt & money market securities by Banks and Public Sector Undertakings (PSUs).

Research Highlights for UTI Banking & PSU Debt Fund

Lower mid AUM (₹1,015 Cr).
Established history (12+ yrs).
Rating: 5★ (lower mid).
Risk profile: Moderate.
1Y return: 7.30% (lower mid).
1M return: 0.16% (bottom quartile).
Sharpe: 1.48 (bottom quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.67% (lower mid).
Modified duration: 1.28 yrs (bottom quartile).
Average maturity: 1.44 yrs (bottom quartile).
Exit load: NIL.
Top bond sector: Corporate.
Debt-heavy allocation (~88%).
High-quality debt (AAA/AA ~100%).
Largest holding 7.38% Govt Stock 2027 (~8.6%).

Below is the key information for UTI Banking & PSU Debt Fund

UTI Banking & PSU Debt Fund Growth
Launch Date	3 Feb 14
NAV (30 Jan 26)	₹22.6364 ↑ 0.02 (0.07 %)
Net Assets (Cr)	₹1,015 on 31 Dec 25
Category	Debt - Banking & PSU Debt
AMC	UTI Asset Management Company Ltd
Rating	☆☆☆☆☆
Risk	Moderate
Expense Ratio	0.54
Sharpe Ratio	1.48
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.67%
Effective Maturity	1 Year 5 Months 8 Days
Modified Duration	1 Year 3 Months 11 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,282
31 Dec 22	₹11,342
31 Dec 23	₹12,097
31 Dec 24	₹13,021
31 Dec 25	₹14,037

UTI Banking & PSU Debt Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹203,125.
Net Profit of ₹23,125 Invest Now

Returns for UTI Banking & PSU Debt Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jan 22

Duration	Returns
1 Month	0.2%
3 Month	0.9%
6 Month	2.3%
1 Year	7.3%
3 Year	7.3%
5 Year	7.1%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.8%
2023	7.6%
2022	6.7%
2021	10.3%
2020	2.8%
2019	8.9%
2018	-1%
2017	6.8%
2016	6.4%
2015	11.7%

Fund Manager information for UTI Banking & PSU Debt Fund

Name	Since	Tenure
Anurag Mittal	1 Dec 21	4.09 Yr.

Data below for UTI Banking & PSU Debt Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	11.8%
Debt	87.93%
Other	0.27%

Debt Sector Allocation

Sector	Value
Corporate	57.66%
Government	31.19%
Cash Equivalent	10.87%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
7.38% Govt Stock 2027 Sovereign Bonds \| -	9%	₹87 Cr	850,000,000 ↓ -50,000,000
Kotak Mahindra Bank Ltd. Debentures \| -	7%	₹71 Cr	750,000,000 ↑ 750,000,000
Axis Bank Limited Debentures \| -	5%	₹55 Cr	550
Export Import Bank Of India Debentures \| -	5%	₹51 Cr	5,000
Small Industries Development Bank Of India Debentures \| -	5%	₹51 Cr	5,000
Power Finance Corporation Limited Debentures \| -	4%	₹41 Cr	400
Rural Electrification Corporation Limited Debentures \| -	4%	₹36 Cr	3,500
National Housing Bank Debentures \| -	3%	₹35 Cr	3,500
HDFC Bank Limited Debentures \| -	3%	₹35 Cr	350
National Bank For Agriculture And Rural Development Debentures \| -	3%	₹30 Cr	3,000

4. Aditya Birla Sun Life Savings Fund

The primary objective of the schemes is to generate regular income through investments in debt and money market instruments. Income maybe generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets in fixed income securities, money market instruments, cash and cash equivalents.

Research Highlights for Aditya Birla Sun Life Savings Fund

Upper mid AUM (₹23,615 Cr).
Oldest track record among peers (22 yrs).
Rating: 5★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 7.08% (bottom quartile).
1M return: 0.31% (top quartile).
Sharpe: 3.14 (top quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.81% (upper mid).
Modified duration: 0.47 yrs (top quartile).
Average maturity: 0.53 yrs (top quartile).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~48%).
High-quality debt (AAA/AA ~100%).
Largest holding Shriram Finance Limited (~2.6%).

Below is the key information for Aditya Birla Sun Life Savings Fund

Aditya Birla Sun Life Savings Fund Growth
Launch Date	16 Apr 03
NAV (30 Jan 26)	₹567.716 ↑ 0.25 (0.04 %)
Net Assets (Cr)	₹23,615 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	Birla Sun Life Asset Management Co Ltd
Rating	☆☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.55
Sharpe Ratio	3.14
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.81%
Effective Maturity	6 Months 11 Days
Modified Duration	5 Months 19 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,389
31 Dec 22	₹10,884
31 Dec 23	₹11,664
31 Dec 24	₹12,580
31 Dec 25	₹13,510

Aditya Birla Sun Life Savings Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Aditya Birla Sun Life Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jan 22

Duration	Returns
1 Month	0.3%
3 Month	1.2%
6 Month	2.8%
1 Year	7.1%
3 Year	7.4%
5 Year	6.2%
10 Year
15 Year
Since launch	7.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.4%
2023	7.9%
2022	7.2%
2021	4.8%
2020	3.9%
2019	7%
2018	8.5%
2017	7.6%
2016	7.2%
2015	9.2%

Fund Manager information for Aditya Birla Sun Life Savings Fund

Name	Since	Tenure
Sunaina Cunha	20 Jun 14	11.54 Yr.
Kaustubh Gupta	15 Jul 11	14.48 Yr.
Monika Gandhi	22 Mar 21	4.78 Yr.

Data below for Aditya Birla Sun Life Savings Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	47.86%
Debt	51.91%
Other	0.24%

Debt Sector Allocation

Sector	Value
Corporate	53.86%
Cash Equivalent	29.6%
Government	16.31%

Credit Quality

Rating	Value
AA	25.17%
AAA	74.83%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Shriram Finance Limited Debentures \| -	3%	₹615 Cr	60,000
National Bank For Agriculture And Rural Development Debentures \| -	2%	₹547 Cr	54,000
Nirma Limited Debentures \| -	2%	₹486 Cr	48,500
Bharti Telecom Limited Debentures \| -	2%	₹399 Cr	40,000 ↑ 5,000
07.22 GJ Sdl 2028 Sovereign Bonds \| -	2%	₹376 Cr	37,500,000
Muthoot Finance Limited Debentures \| -	1%	₹352 Cr	35,000
Mankind Pharma Limited Debentures \| -	1%	₹347 Cr	34,500
National Bank For Agriculture And Rural Development Debentures \| -	1%	₹304 Cr	30,000
Avanse Financial Services Limited Debentures \| -	1%	₹301 Cr	30,000
Power Finance Corporation Limited Debentures \| -	1%	₹298 Cr	30,000

5. Aditya Birla Sun Life Money Manager Fund

(Erstwhile Aditya Birla Sun Life Floating Rate Fund - Short Term)

The primary objective of the schemes is to generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments. The schemes may invest a portion of its net assets in fixed rate debt securities and money market instruments.

Research Highlights for Aditya Birla Sun Life Money Manager Fund

Highest AUM (₹27,449 Cr).
Established history (20+ yrs).
Rating: 5★ (bottom quartile).
Risk profile: Low.
1Y return: 7.02% (bottom quartile).
1M return: 0.30% (upper mid).
Sharpe: 3.04 (upper mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.62% (bottom quartile).
Modified duration: 0.53 yrs (upper mid).
Average maturity: 0.53 yrs (upper mid).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Top bond sector: Corporate.
Conservative stance with elevated cash (~86%).
High-quality debt (AAA/AA ~100%).
Largest holding 5.63% Govt Stock 2026 (~2.8%).

Below is the key information for Aditya Birla Sun Life Money Manager Fund

Aditya Birla Sun Life Money Manager Fund Growth
Launch Date	13 Oct 05
NAV (30 Jan 26)	₹383.022 ↑ 0.14 (0.04 %)
Net Assets (Cr)	₹27,449 on 31 Dec 25
Category	Debt - Money Market
AMC	Birla Sun Life Asset Management Co Ltd
Rating	☆☆☆☆☆
Risk	Low
Expense Ratio	0.35
Sharpe Ratio	3.04
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.62%
Effective Maturity	6 Months 11 Days
Modified Duration	6 Months 11 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,384
31 Dec 22	₹10,887
31 Dec 23	₹11,695
31 Dec 24	₹12,604
31 Dec 25	₹13,536

Aditya Birla Sun Life Money Manager Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Aditya Birla Sun Life Money Manager Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jan 22

Duration	Returns
1 Month	0.3%
3 Month	1.2%
6 Month	2.7%
1 Year	7%
3 Year	7.4%
5 Year	6.3%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.4%
2023	7.8%
2022	7.4%
2021	4.8%
2020	3.8%
2019	6.6%
2018	8%
2017	7.9%
2016	6.8%
2015	7.7%

Fund Manager information for Aditya Birla Sun Life Money Manager Fund

Name	Since	Tenure
Kaustubh Gupta	15 Jul 11	14.48 Yr.
Anuj Jain	22 Mar 21	4.78 Yr.
Mohit Sharma	1 Apr 17	8.76 Yr.

Data below for Aditya Birla Sun Life Money Manager Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	85.58%
Debt	14.14%
Other	0.27%

Debt Sector Allocation

Sector	Value
Corporate	43.32%
Cash Equivalent	41.17%
Government	15.23%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
5.63% Govt Stock 2026 Sovereign Bonds \| -	3%	₹770 Cr	77,000,000
India (Republic of) - \| -	2%	₹497 Cr	50,000,000
India (Republic of) - \| -	1%	₹384 Cr	40,000,000
07.49 GJ Sgs 2026 Sovereign Bonds \| -	1%	₹329 Cr	32,500,000
7.59% Govt Stock 2026 Sovereign Bonds \| -	1%	₹240 Cr	24,000,000
Treasury Bill Sovereign Bonds \| -	1%	₹239 Cr	25,000,000
07.57 GJ Sgs 2026 Sovereign Bonds \| -	1%	₹239 Cr	23,500,000
Karur Vysya Bank Ltd. Debentures \| -	1%	₹235 Cr	5,000
Treasury Bills Sovereign Bonds \| -	1%	₹217 Cr	22,500,000 ↑ 22,500,000
Union Bank of India Domestic Bonds \| -	1%	₹195 Cr	4,000

How to Evaluate Best Debt Mutual Funds

In order to select the best debt funds you wish to invest in, it is necessary to consider some of the important parameters such as average maturity, credit quality, AUM, expense ratio, tax implication., etc. Let's have an in-depth look-

1. Average Maturity/Duration

Average maturity is an essential parameter in debt funds that is sometimes overlooked by investors, who tend to invest for a long period without considering the risks involved. Investors need to decide their debt fund investment based on its maturity period, Matching the time period of investment with the maturity period of the debt fund is a good way to ensure you don't end up taking unnecessary risk. Thus, it is advisable to know the average maturity of a debt fund, before investing, in order to aim for optimum risk returns in debt funds. Looking at the average maturity (duration is a similar factor) is important, for example, a liquid fund may have an average maturity of a couple of days to maybe a month, this would mean it is a great option for an investor who is looking to invest money for a couple of days. Similarly, if you are looking at the time frame of one-year Investment plan then, a short-term debt fund can be ideal.

2. Interest Rate Scenario

Understanding the market environment is very important in debt funds which are affected by interest rates and its fluctuations. When the interest rate rises in the economy, the bond price falls and vice-versa. Also, during the time when the interest rates rise, new bonds are issued in the market with a higher yield than the older bonds, making those older bonds of lower value. Therefore, investors are more attracted towards newer bonds in the market and also a re-pricing of older bonds takes place. In case a debt fund is having an exposure to such "older bonds" then when the interest rates rise, the NAV of the debt fund would be impacted negatively. Furthermore, as debt funds are exposed to interest rate fluctuations, it disturbs the prices of the underlying bonds in the fund portfolio. For instance, long-term debt funds are at a higher risk during times of rising interest rates. During this time making a short-term investment plan will lower your interest rate risks.

If one has good knowledge of interest rates and can monitor the same, one can even take advantage of this. In a falling interest rate market, long-term debt funds would be a good choice. However, during the times of rising interest rates then it would be wise to be in funds with shorter average maturities like short-term funds, Ultra Short Term fund or even liquid funds.

3. Current Yield or Portfolio Yield

The yield is a measure of the interest income generated by the bonds in the portfolio. Funds that invest in debt or bonds that have a higher coupon rate (or yield) would have a higher overall portfolio yield. The yield to maturity(YTM) of a debt mutual fund indicates the running yield of the fund. When comparing debt funds on the basis of YTM, one should also look at that fact that how is the extra yield being generated. Is this at the cost of as lower portfolio quality? Investing in not so good quality instruments has its own issues. You don't want to end up investing in a debt fund which has such bonds or securities that may default later on. So, always look at the portfolio yield and balance it off with the credit quality.

4. Credit Quality of Portfolio

In order to invest in best debt funds, checking the credit quality of the bonds and debt securities is an essential parameter. Bonds are assigned a credit rating by various agencies based on their ability to pay the money back. A bond with AAA rating is considered to be the best credit rating and also implies a safe and secure investment. If one truly wants safety and considers this as the paramount parameter in selecting the best debt fund, then getting into a fund with very high-quality debt instruments (AAA or AA+) may be the desired option.

5. Assets Under Management (AUM)

This is the foremost parameter to consider while choosing the best debt funds. AUM is the total amount invested in a particular scheme by all investors. Since, most Mutual Funds’ total AUM is invested in debt funds, investors need to select scheme assets that have a considerable AUM. Being in a fund which has a large exposure to corporates may be risky, since their withdrawals may be large which may affect the overall fund performance.

6. Expense Ratio

An important factor to be considered in debt funds is its expense ratio. A higher expense ratio creates a larger impact on the funds’ performance. For example, liquid funds have the lowest expense ratios which are up to 50 bps (BPS is a unit to measure interest rates wherein one bps is equal to 1/100th of 1%) whereas, other debt funds could charge up to 150 bps. So to make a choice between one debt mutual fund, it is important to consider the management fee or the fund running expense.

7. Taxation Impacts

Debt funds offer the benefit of long-term capital gains (more than 3 years) with indexation benefits. And the short term capital gains (less than 3 years) is taxed at 30%.

Things to consider as an investor

1. Fund Objectives

Debt Fund aims to earn optimal returns by maintaining a diversified portfolio of various types of securities. You can expect them to perform in a predictable manner. It is because of this reason, that debt funds are popular among conservative investors.

2. Fund Types

Debt funds are further divided into various categories like liquid funds, Monthly Income Plan (MIP), fixed maturity plans (FMP), dynamic bond funds, income funds, credit opportunities funds, GILT funds, short-term funds and ultra short-term funds.

3. Risks

Debt funds are basically exposed to interest rate risk, credit risk, and liquidity risk. The fund value may fluctuate due to the overall interest rate movements. There’s a risk of default in the payment of interest and principal by the issuer. Liquidity risk happens when the fund manager is unable to sell the underlying security due to lack of demand.

4. Cost

Debt funds charge an expense ratio to manage your money. Till now SEBI had mandated the upper limit of expense ratio to be 2.25% (Might change time to time with regulations.).

5. Investment Horizon

An investment of 3 months to 1 year would be ideal for liquid funds. If you have a longer horizon of say 2 to 3 years, you may go for short-term bond funds.

6. Financial Goals

Debt funds can be used to achieve a variety of goals like earning additional income or for purpose of liquidity.

How to Invest in Best Debt Funds Online?

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Conclusion

Debt funds are one of the best ways to invest your money and generate income on a regular basis by choosing the relevant product matching your risk profile. So, investors looking to generate steady income or take advantage of the debt markets, can consider the above best debt funds for 2026 - 2027 and start investing!_

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.