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Ultra Short Term Funds Vs Liquid Funds
Whenever we think of short-term investment in Mutual Funds, we often come across the terms such as ultra short term funds and Liquid Funds. Though both of them are categories of debt funds, however, they do possess the different characteristics. Ultra Short Term fund is a Debt fund category whose portfolio consists of fixed Income securities with a maturity period ranging between 91 days to one year. On the other hand, the liquid fund is a debt fund category whose portfolio consists of Fixed Income securities with a maturity period of less than or equal to 91 days.
So, let us understand the differences between both ultra short term funds and liquid funds with respect to various parameters.
What is an Ultra Short Term Fund?
Ultra short term fund is a category of debt fund that invests its corpus in fixed income securities. The fund’s portfolio maturity tenure extends between 91 days and normally less than 1 year. These schemes were earlier referred as Liquid Plus Funds. Ultra Short Term Funds is suitable for investors who are willing to take a marginally higher level of risk to earn higher returns. These schemes are a notch above liquid funds with respect to risk and returns.
What is a Liquid Fund?
Liquid fund refers to the Mutual Fund scheme that invests its accumulated fund money in fixed income securities having a maturity period of less than 91 days. Liquid funds are part of debt funds and are considered to be one of the safe investment avenues. People having idle funds lying in their Bank account can choose to invest in the money in liquid funds and earn more returns. These schemes have higher liquidity as compared to ultra short term fund.
Difference Between Ultra Short Term Fund Vs Liquid Fund
The different parameters that differentiate ultra short term funds and liquid funds are as follows.
Maturity Tenure of Underlying Assets
The Maturity tenure of Underlying assets in case of liquid funds is less as compared to ultra short term funds. These securities in most cases have a maturity profile of less than or equal to 91 days. However, in case of ultra short term funds, the maturity tenure of its underlying securities are more than 91 days and less than 1 year.
Liquidity
The liquidity of liquid funds is high as compared to ultra short term funds. In case liquid funds, some of the Mutual Fund companies do provide an instant Redemption Facility. By opting for this facility, one can ensure that they get their proceeds credited to the bank account within 30 minutes. However, this facility is not available in case of ultra short term funds. In ultra short term funds people get their money back on the next working day if they place their order before the cut-off time.
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Returns
The returns in case of ultra short term funds are slightly higher as compared to liquid funds. This higher return is due to the marginally higher risk which is present in ultra short term funds as compared to liquid funds.
Risk
The risk in case of liquid funds is very low as compared to ultra short term funds. This is because the underlying securities in liquid funds are mostly held till maturity instead of trading due to very low maturity tenure. However, in case of ultra short term funds, the risk is marginally higher as compared to liquid funds.
Exit Load
Most of the liquid funds do not have any exit loads attached to it due to which people get the entire redemption proceeds at the time of withdrawals. However, ultra short term funds may or may not have exit loads. Exit load in case of ultra short term fund is generally applicable if the redemption is done within a short period of time.
Taxation
Since both ultra short-term funds and liquid funds are a part of the debt funds; the taxation rules are same for both of them. If both the funds are sold within three years from the date of purchase, then Short Term Capital Gain (STCG) is applicable which is charged as per the individual’s tax slab. On the contrary, if the units are redeemed after three years then Long Term Capital Gain (LTCG) is applicable which is charged at 20% along with indexation benefits.
Cut-off Time
The cut-off time for placing an order with respect to purchase or redemption in case of the liquid fund is 2 PM, while in case of ultra short term funds the cut-off time is 3 PM.
The table given below sums up the differences between liquid funds and ultra short term funds.
| Parameters | Liquid Funds | Ultra Short Term Funds |
|---|---|---|
| Maturity Profile of Underlying Assets | The maturity profile of the assets is less than or equal to 91 days | The maturity profile of the assets is more than 91 days and less than one year |
| Liquidity | High liquidity | Low as compared to Liquid Funds |
| Returns | Lower as compared to ultra short term funds | Slightly higher than liquid funds |
| Risk | Very low | Marginally higher in comparison to liquid funds |
| Exit Load | Mostly does not have exit load | May or may not have exit loads |
| Taxation | Short-term: Taxed as per individual’s slab rates Long-term: Taxed at 20% and had taxation benefits | Same as Liquid Funds |
| Cut-off Time | 2 PM | 3 PM |
Best Funds to Invest in FY 22 - 23
After understanding the differences between liquid funds and ultra short term funds, let us have a look at some of the Best Liquid Funds and Best Ultra Short term funds which may suit your requirements.
Best Liquid Funds
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 2021 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Baroda Pioneer Liquid Fund Growth ₹2,510.41
↑ 0.43 ₹5,817 0.5 1.5 2.7 4.5 3.3 6.67% 1M 6D 1M 9D Axis Liquid Fund Growth ₹2,426.12
↑ 0.44 ₹29,703 0.5 1.5 2.7 4.5 3.3 6.32% 1M 11D 1M 12D Canara Robeco Liquid Growth ₹2,623.61
↑ 0.45 ₹2,261 0.6 1.5 2.7 4.5 3.2 6.56% 1M 5D 1M 7D JM Liquid Fund Growth ₹59.64
↑ 0.01 ₹1,553 0.5 1.5 2.7 4.5 3.3 6.24% 1M 4D 1M 6D DSP BlackRock Liquidity Fund Growth ₹3,114.82
↑ 0.55 ₹12,947 0.5 1.4 2.7 4.5 3.3 6.58% 29D 1M 2D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Nov 22
Best Ultra Short Term Funds
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2021 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Aditya Birla Sun Life Savings Fund Growth ₹453.152
↑ 0.06 ₹14,075 1.3 2.7 4.4 5.2 3.9 7.45% 6M 6M 11D Nippon India Ultra Short Duration Fund Growth ₹3,374.1
↑ 0.62 ₹4,915 1.2 2.6 4.3 5.8 7.8 7.18% 5M 13D 6M 1D ICICI Prudential Ultra Short Term Fund Growth ₹23.0636
↑ 0.00 ₹11,752 1.3 2.6 4.2 5 4 6.92% 4M 2D 4M 20D Kotak Savings Fund Growth ₹35.8556
↑ 0.01 ₹12,853 1.2 2.5 4.1 4.4 3.2 6.89% 4M 13D 6M 4D SBI Magnum Ultra Short Duration Fund Growth ₹4,976.41
↑ 0.91 ₹11,433 1.3 2.6 4.1 4.5 3.4 6.76% 5M 8D 5M 19D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 23 Nov 22
*Above is the detailed list of Liquid / Ultrashort funds having Net Assets more than 1000 Crore and have been managing funds for atleast 3 Years. Sorted based on 1 Year returns.
*Below is the detailed list of Liquid / Ultrashort funds having Net Assets more than 1000 Crore and have been managing funds for atleast 3 Years. Sorted based on last yield to maturity.
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. Aditya Birla Sun Life Savings Fund is a Debt - Ultrashort Bond fund was launched on 16 Apr 03. It is a fund with Moderately Low risk and has given a Below is the key information for Aditya Birla Sun Life Savings Fund Returns up to 1 year are on (Erstwhile Reliance Liquid Fund - Cash Plan) The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and high liquidity. Accordingly, investments shall predominantly be made in Debt and Money Market Instruments. Nippon India Ultra Short Duration Fund is a Debt - Ultrashort Bond fund was launched on 7 Dec 01. It is a fund with Low risk and has given a Below is the key information for Nippon India Ultra Short Duration Fund Returns up to 1 year are on "The primary investment objective of the Scheme is to seek to generate reasonable returns commensurate with low risk and a high degree of liquidity, from a portfolio constituted of money market securities and high quality debt securities. However, there can be no assurance that the investment objective of the Scheme will be realized." DSP BlackRock Money Manager Fund is a Debt - Ultrashort Bond fund was launched on 31 Jul 06. It is a fund with Moderately Low risk and has given a Below is the key information for DSP BlackRock Money Manager Fund Returns up to 1 year are on (Erstwhile Principal Retail Money Manager Fund) To generate steady return by investing in debt and money market securities.
The portfolio will be predominantly invested in overnight repo, CBLO, floating rate instruments and other fixed income instruments. Principal Ultra Short Term Fund is a Debt - Ultrashort Bond fund was launched on 28 Dec 07. It is a fund with Moderately Low risk and has given a Below is the key information for Principal Ultra Short Term Fund Returns up to 1 year are on (Erstwhile ICICI Prudential Regular Income Fund) The fund’s objective is to generate regular income through investments primarily in debt and money market instruments. As a secondary objective, the Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme. ICICI Prudential Ultra Short Term Fund is a Debt - Ultrashort Bond fund was launched on 3 May 11. It is a fund with Moderate risk and has given a Below is the key information for ICICI Prudential Ultra Short Term Fund Returns up to 1 year are on 1. Aditya Birla Sun Life Savings Fund
CAGR/Annualized return of 7.4% since its launch. Ranked 6 in Ultrashort Bond category. Return for 2021 was 3.9% , 2020 was 7% and 2019 was 8.5% . Aditya Birla Sun Life Savings Fund
Growth Launch Date 16 Apr 03 NAV (23 Nov 22) ₹453.152 ↑ 0.06 (0.01 %) Net Assets (Cr) ₹14,075 on 31 Oct 22 Category Debt - Ultrashort Bond AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk Moderately Low Expense Ratio 0.49 Sharpe Ratio -0.48 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 7.45% Effective Maturity 6 Months 11 Days Modified Duration 6 Months Growth of 10,000 investment over the years.
Date Value 31 Oct 17 ₹10,000 31 Oct 18 ₹10,672 31 Oct 19 ₹11,646 31 Oct 20 ₹12,491 31 Oct 21 ₹12,991 31 Oct 22 ₹13,551 Returns for Aditya Birla Sun Life Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 23 Nov 22 Duration Returns 1 Month 0.6% 3 Month 1.3% 6 Month 2.7% 1 Year 4.4% 3 Year 5.2% 5 Year 6.3% 10 Year 15 Year Since launch 7.4% Historical performance (Yearly) on absolute basis
Year Returns 2021 3.9% 2020 7% 2019 8.5% 2018 7.6% 2017 7.2% 2016 9.2% 2015 8.9% 2014 9.7% 2013 9.5% 2012 9.7% Fund Manager information for Aditya Birla Sun Life Savings Fund
Name Since Tenure Sunaina Cunha 14 Jun 14 8.39 Yr. Kaustubh Gupta 15 Jul 11 11.31 Yr. Monika Gandhi 22 Mar 21 1.61 Yr. Data below for Aditya Birla Sun Life Savings Fund as on 31 Oct 22
Asset Allocation
Asset Class Value Cash 61.67% Debt 38.33% Debt Sector Allocation
Sector Value Corporate 46.28% Cash Equivalent 27.8% Government 25.92% Credit Quality
Rating Value AA 14.21% AAA 85.79% Top Securities Holdings / Portfolio
Name Holding Value Quantity Housing Development Finance Corporation Ltd
Debentures | -4% ₹600 Cr 6,000 Shriram Transport Finance Company Limited
Debentures | -2% ₹279 Cr 2,750 Reliance Industries Limited
Debentures | -2% ₹255 Cr 2,500 Cholamandalam Investment And Fin. Co. Ltd
Debentures | -2% ₹250 Cr 2,500 08.54 MH Sdl 2023
Sovereign Bonds | -2% ₹247 Cr 24,500,000 Housing Development Finance Corporation Ltd
Debentures | -2% ₹245 Cr 2,450 08.21 HR UDAY 2023
Domestic Bonds | -2% ₹236 Cr 23,500,000 08.39 RJ UDAY 2023
Domestic Bonds | -1% ₹216 Cr 21,477,000 08.24 GJ Sdl 2023
Sovereign Bonds | -1% ₹211 Cr 21,000,000 08.48 KA Sdl 2022
Sovereign Bonds | -1% ₹200 Cr 20,000,000 2. Nippon India Ultra Short Duration Fund
CAGR/Annualized return of 6% since its launch. Ranked 62 in Ultrashort Bond category. Return for 2021 was 7.8% , 2020 was 4.9% and 2019 was 0.9% . Nippon India Ultra Short Duration Fund
Growth Launch Date 7 Dec 01 NAV (23 Nov 22) ₹3,374.1 ↑ 0.62 (0.02 %) Net Assets (Cr) ₹4,915 on 31 Oct 22 Category Debt - Ultrashort Bond AMC Nippon Life Asset Management Ltd. Rating ☆☆ Risk Low Expense Ratio 1.12 Sharpe Ratio -0.92 Information Ratio 0 Alpha Ratio 0 Min Investment 100 Min SIP Investment 100 Exit Load NIL Yield to Maturity 7.18% Effective Maturity 6 Months 1 Day Modified Duration 5 Months 13 Days Growth of 10,000 investment over the years.
Date Value 31 Oct 17 ₹10,000 31 Oct 18 ₹10,667 31 Oct 19 ₹10,795 31 Oct 20 ₹11,347 31 Oct 21 ₹12,267 31 Oct 22 ₹12,778 Returns for Nippon India Ultra Short Duration Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 23 Nov 22 Duration Returns 1 Month 0.6% 3 Month 1.2% 6 Month 2.6% 1 Year 4.3% 3 Year 5.8% 5 Year 5% 10 Year 15 Year Since launch 6% Historical performance (Yearly) on absolute basis
Year Returns 2021 7.8% 2020 4.9% 2019 0.9% 2018 7.3% 2017 5.8% 2016 6.8% 2015 7.6% 2014 8.4% 2013 8.5% 2012 9.2% Fund Manager information for Nippon India Ultra Short Duration Fund
Name Since Tenure Vivek Sharma 1 Oct 13 9.09 Yr. Kinjal Desai 25 May 18 4.44 Yr. Data below for Nippon India Ultra Short Duration Fund as on 31 Oct 22
Asset Allocation
Asset Class Value Cash 68.76% Debt 31.24% Debt Sector Allocation
Sector Value Corporate 45.48% Cash Equivalent 37.13% Government 17.38% Credit Quality
Rating Value AA 21.33% AAA 78.67% Top Securities Holdings / Portfolio
Name Holding Value Quantity 182 DTB 22122022
Sovereign Bonds | -4% ₹222 Cr 22,500,000 Tata Realty And Infrastructure Limited
Debentures | -3% ₹148 Cr 1,500 Shriram Transport Finance Company Limited
Debentures | -2% ₹105 Cr 1,050
↑ 1,050 Reliance Industries Limited
Debentures | -2% ₹102 Cr 1,000 08.39 RJ UDAY 2024
Domestic Bonds | -2% ₹101 Cr 10,000,000
↑ 10,000,000 Shriram Housing Finance Limited
Debentures | -2% ₹101 Cr 1,000 National Housing Bank
Debentures | -2% ₹100 Cr 1,000 Axis Bank Ltd.
Debentures | -2% ₹93 Cr 2,000
↑ 2,000 Shriram Transport Finance Company Limited
Debentures | -2% ₹91 Cr 900 Samvardhana Motherson International Limited
Debentures | -1% ₹74 Cr 750 3. DSP BlackRock Money Manager Fund
CAGR/Annualized return of 6.7% since its launch. Ranked 75 in Ultrashort Bond category. Return for 2021 was 2.9% , 2020 was 4.7% and 2019 was 7.3% . DSP BlackRock Money Manager Fund
Growth Launch Date 31 Jul 06 NAV (23 Nov 22) ₹2,858.91 ↑ 0.50 (0.02 %) Net Assets (Cr) ₹2,449 on 31 Oct 22 Category Debt - Ultrashort Bond AMC DSP BlackRock Invmt Managers Pvt. Ltd. Rating ☆☆ Risk Moderately Low Expense Ratio 1.69 Sharpe Ratio -2.75 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.1% Effective Maturity 4 Months 13 Days Modified Duration 4 Months 2 Days Growth of 10,000 investment over the years.
Date Value 31 Oct 17 ₹10,000 31 Oct 18 ₹10,561 31 Oct 19 ₹11,268 31 Oct 20 ₹11,837 31 Oct 21 ₹12,173 31 Oct 22 ₹12,605 Returns for DSP BlackRock Money Manager Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 23 Nov 22 Duration Returns 1 Month 0.6% 3 Month 1.2% 6 Month 2.3% 1 Year 3.7% 3 Year 3.8% 5 Year 4.7% 10 Year 15 Year Since launch 6.7% Historical performance (Yearly) on absolute basis
Year Returns 2021 2.9% 2020 4.7% 2019 7.3% 2018 5% 2017 6% 2016 7.5% 2015 7.9% 2014 8.8% 2013 9.2% 2012 8.9% Fund Manager information for DSP BlackRock Money Manager Fund
Name Since Tenure Kedar Karnik 17 Jul 16 6.3 Yr. Karan Mundhra 31 May 21 1.42 Yr. Data below for DSP BlackRock Money Manager Fund as on 31 Oct 22
Asset Allocation
Asset Class Value Cash 89.92% Debt 10.08% Debt Sector Allocation
Sector Value Corporate 45.11% Cash Equivalent 41% Government 13.88% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 6.84% Govt Stock 2022
Sovereign Bonds | -4% ₹87 Cr 8,500,000 364 Dtb 16022023
Sovereign Bonds | -2% ₹49 Cr 5,000,000 364 Dtb 02032023
Sovereign Bonds | -2% ₹49 Cr 5,000,000 ICICI Bank Ltd.
Debentures | -2% ₹48 Cr 1,000
↑ 1,000 Larsen And Toubro Limited
Debentures | -1% ₹36 Cr 350 Housing Development Finance Corporation Ltd
Debentures | -1% ₹26 Cr 250 Sikka Ports & Terminals Limited
Debentures | -1% ₹26 Cr 250 Jamnagar Utilities & Power Private Limited
Debentures | -1% ₹25 Cr 250 Power Finance Corporation Ltd.
Debentures | -1% ₹16 Cr 160 Treps / Reverse Repo Investments / Corporate Debt Repo
CBLO/Reverse Repo | -10% ₹247 Cr 4. Principal Ultra Short Term Fund
CAGR/Annualized return of 5.7% since its launch. Ranked 43 in Ultrashort Bond category. Return for 2021 was 2.7% , 2020 was 4.1% and 2019 was 6.5% . Principal Ultra Short Term Fund
Growth Launch Date 28 Dec 07 NAV (23 Nov 22) ₹2,288.85 ↑ 0.36 (0.02 %) Net Assets (Cr) ₹1,111 on 31 Oct 22 Category Debt - Ultrashort Bond AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd. Rating ☆☆☆ Risk Moderately Low Expense Ratio 1.25 Sharpe Ratio -5.36 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 2,000 Exit Load NIL Yield to Maturity 6.93% Effective Maturity 2 Months 30 Days Modified Duration 2 Months 28 Days Growth of 10,000 investment over the years.
Date Value 31 Oct 17 ₹10,000 31 Oct 18 ₹10,069 31 Oct 19 ₹10,792 31 Oct 20 ₹11,262 31 Oct 21 ₹11,559 31 Oct 22 ₹11,929 Returns for Principal Ultra Short Term Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 23 Nov 22 Duration Returns 1 Month 0.5% 3 Month 1.1% 6 Month 2.1% 1 Year 3.3% 3 Year 3.4% 5 Year 3.6% 10 Year 15 Year Since launch 5.7% Historical performance (Yearly) on absolute basis
Year Returns 2021 2.7% 2020 4.1% 2019 6.5% 2018 1.2% 2017 6.3% 2016 7.9% 2015 8.8% 2014 9.4% 2013 9.8% 2012 10% Fund Manager information for Principal Ultra Short Term Fund
Name Since Tenure Dwijendra Srivastava 16 May 22 0.46 Yr. Sandeep Agarwal 1 Jan 22 0.83 Yr. Data below for Principal Ultra Short Term Fund as on 31 Oct 22
Asset Allocation
Asset Class Value Cash 92.3% Debt 7.7% Debt Sector Allocation
Sector Value Cash Equivalent 55.07% Corporate 33.36% Government 11.57% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity LIC Housing Finance Limited
Debentures | -5% ₹50 Cr 500 182 Dtb 01122022
Sovereign Bonds | -2% ₹25 Cr 2,500,000 Citicorp Finance (India) Limited
Debentures | -2% ₹25 Cr 250 364 Dtb 08122022
Sovereign Bonds | -1% ₹10 Cr 1,000,000 LIC Housing Finance Limited
Debentures | -1% ₹10 Cr 100 Power Grid Corporation Of India Limited
Debentures | -1% ₹7 Cr 55 Treps
CBLO/Reverse Repo | -25% ₹274 Cr Export-Import Bank Of India
Commercial Paper | -5% ₹49 Cr 1,000 Punjab & Sind Bank
Certificate of Deposit | -4% ₹49 Cr 1,000 Birla Group Holdings Private Limited
Commercial Paper | -4% ₹45 Cr 900 5. ICICI Prudential Ultra Short Term Fund
CAGR/Annualized return of 7.5% since its launch. Ranked 27 in Ultrashort Bond category. Return for 2021 was 4% , 2020 was 6.5% and 2019 was 8.4% . ICICI Prudential Ultra Short Term Fund
Growth Launch Date 3 May 11 NAV (23 Nov 22) ₹23.0636 ↑ 0.00 (0.02 %) Net Assets (Cr) ₹11,752 on 15 Nov 22 Category Debt - Ultrashort Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.93 Sharpe Ratio -1.55 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load 0-1 Months (0.5%),1 Months and above(NIL) Yield to Maturity 6.92% Effective Maturity 4 Months 20 Days Modified Duration 4 Months 2 Days Growth of 10,000 investment over the years.
Date Value 31 Oct 17 ₹10,000 31 Oct 18 ₹10,646 31 Oct 19 ₹11,586 31 Oct 20 ₹12,400 31 Oct 21 ₹12,908 31 Oct 22 ₹13,432 Returns for ICICI Prudential Ultra Short Term Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 23 Nov 22 Duration Returns 1 Month 0.6% 3 Month 1.3% 6 Month 2.6% 1 Year 4.2% 3 Year 5% 5 Year 6.1% 10 Year 15 Year Since launch 7.5% Historical performance (Yearly) on absolute basis
Year Returns 2021 4% 2020 6.5% 2019 8.4% 2018 7.5% 2017 6.9% 2016 9.8% 2015 9.1% 2014 14.8% 2013 3.1% 2012 9.4% Fund Manager information for ICICI Prudential Ultra Short Term Fund
Name Since Tenure Manish Banthia 15 Nov 16 5.96 Yr. Ritesh Lunawat 15 Jun 17 5.38 Yr. Data below for ICICI Prudential Ultra Short Term Fund as on 15 Nov 22
Asset Allocation
Asset Class Value Cash 65.66% Debt 34.34% Debt Sector Allocation
Sector Value Cash Equivalent 53.93% Corporate 30.47% Government 15.6% Credit Quality
Rating Value A 0.98% AA 16.24% AAA 82.78% Top Securities Holdings / Portfolio
Name Holding Value Quantity 182 Dtb 24112022
Sovereign Bonds | -7% ₹894 Cr 90,000,000 National Bank For Agriculture And Rural Development
Debentures | -4% ₹570 Cr 5,750 182 Dtb 01122022
Sovereign Bonds | -3% ₹447 Cr 45,000,000 National Bank For Agriculture And Rural Development
Debentures | -3% ₹426 Cr 4,250 Housing Development Finance Corporation Ltd
Debentures | -3% ₹419 Cr 4,200 182 Dtb 17112022
Sovereign Bonds | -3% ₹378 Cr 38,000,000 Housing Development Finance Corporation Ltd
Debentures | -2% ₹307 Cr 3,100 Housing Development Finance Corporation Ltd
Debentures | -2% ₹250 Cr 2,500 Shriram Transport Finance Company Limited
Debentures | -2% ₹201 Cr 2,000 Axis Bank Ltd.
Debentures | -1% ₹186 Cr 4,000
↑ 4,000
Conclusion
To conclude, it can be said that both ultra short term funds and liquid funds have their own set of characteristics. However, people while choosing any scheme should check and ensure whether the scheme is in-line with their determined objective. They should also check the modalities of the scheme completely. Moreover, they may even consult a financial advisor if required to ensure that their investment helps them to attain their desired objectives.
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.
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Great alternative for FD - Fixed Deposit Investment. Nice article explains each fund very well.