May 13, 2023
mayank
Mahindra Manulife Ultra Short Duration Fund
NAV Growth: Rs 1,203.2380
NAV IDCW Weekly: Rs 1,002.4083
NAV IDCW Daily: Rs 1,075.2009
Suitable For Which Investors?
“Ultra-short Duration debt funds predominantly invest in bonds maturing in three to six months. They aim to earn slightly better returns over liquid funds but with a marginally higher degree of volatility.
They are suitable to park the amount you have set aside to meet any emergency needs or any surplus money that you don’t need for the next six months up to 1-1.5 years. Investors who want to avoid the complexity of wading through the very finely classified categories of debt funds can simply give these funds a miss and stick to liquid funds for this investing need. But those, who want slightly better returns and can withstand a little more volatility, can consider ultra-short duration funds.
The risk of incurring a loss in these funds over the said timeframe is low but they do not guarantee returns or safety of capital. Remember, they are geared to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit, but are not suitable to build wealth in the long run.”
Fund’s Investment Strategy:
The Scheme seeks to generate regular income and capital appreciation through investment in a portfolio of short term debt & money market instruments such that the Macaulay duration of the portfolio is between 3 – 6 months.
Fund Manager:
1) Rahul Pal
Education: Mr. Pal is a B.Com (H) and Chartered Accountant.
Experience: Prior to joining Mahindra Manulife Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.
2) Amit Garg
Education: Mr Garg is a B.Com, MMS Finance, CFA
Experience: Prior to joining Mahindra Manulife Investment Management Pvt. Ltd., he has worked with Darashaw & Co. and Daiwa Asset Management (India) Pvt. Ltd.
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | Mahindra Manulife Mutual Fund |
| Launch Date | 17-Oct-19 |
| Return Since Launch | 5.32% |
| Benchmark | CRISIL Ultra Short Duration Debt B-I Index |
| Riskometer | Moderate |
| Type | Open-ended |
| Assets | Rs 157 Cr |
| (As on 30-Apr-2023) | |
| Expense | 0.35% |
| (As on 31-Mar-2023) | |
| Risk Grade | Below Average |
| Return Grade | Average |
Mahindra Manulife Ultra Short Duration Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mahindra Manulife Ultra SD Dir | 2.65 | 0.02 | 0.57 | 1.90 | 3.59 | 6.39 | 4.95 | — | — | — |
| CCIL T Bill Liquidity Weight | 1.46 | 0.03 | 0.37 | 1.10 | 2.08 | 3.55 | 2.55 | — | — | — |
| Debt: Ultra Short Duration | 2.61 | 0.02 | 0.56 | 1.87 | 3.56 | 6.29 | 5.01 | — | — | — |
| Rank within category | 12 | 7 | 8 | 13 | 15 | 9 | 9 | — | — | — |
| Number of funds in category | 25 | 25 | 25 | 25 | 25 | 25 | 23 | 13 | 12 | 11 |
Mahindra Manulife Ultra Short Duration Fund Peer Comparison
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | |
| Mahindra Manulife Ultra SD Dir | 3 star | 6.39 | 4.95 | — | 0.35 | 157 | 5.32 | — | 3yrs 6mo |
| HDFC Ultra ST Dir | 4 star | 6.34 | 5.17 | — | 0.34 | 13,098 | 6.22 | — | 4yrs 7mo |
| ICICI Pru Ultra ST Dir | 4 star | 6.53 | 5.80 | 6.78 | 0.39 | 12,645 | 8.09 | — | 10yrs 4mo |
| Axis Ultra ST Dir | 4 star | 6.60 | 5.29 | — | 0.31 | 5,226 | 6.31 | — | 4yrs 8mo |
| Nippon Ind Ultra SD Dir | 5 star | 6.78 | 7.05 | 5.95 | 0.38 | 5,103 | 7.10 | — | 10yrs 4mo |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 22 | 44 |
| Modified Duration (yrs) | 0.42 | 0.40 |
| Average Maturity (yrs) | 0.44 | 0.43 |
| Yield to Maturity (%) | 7.42 | 7.27 |
| Avg Credit Rating | AAA | — |
Chanakya’s Mutual Fund Guidance For Mahindra Manulife Ultra Short Duration Fund
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