August 16, 2023
mayank
Tata Floating Rate Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 11.1897
Quarterly NAV IDCW: Rs 11.1897
Periodic NAV IDCW: Rs 11.1897
NAV IDCW Monthly: Rs 11.1897
Suitable For Which Investors?
“This is a fund that invests mainly in bonds whose rate of interest keeps changing with the prevailing interest rates in the economy. Given their investment mandate, such funds are usually less volatile in response to changing interest rates.
They can be a viable option for the fixed-income allocation in your portfolio. However, we believe that retail investors can avoid these funds altogether. There are far too many kinds of debt funds with a highly nuanced classification based on the type or duration of bonds they can invest in. We believe that so many fund categories add to complexity which is easily avoidable. Retail investors can simply invest in Liquid funds for an investment horizon of up to one year and Short Duration funds for the fixed income allocation (which should be 100 per cent for an investment horizon of up to three years) in their longer-term portfolios.
If you do decide to invest in them, remember that they are meant to deliver steady, but low to moderate returns and are not suitable to build wealth in the long run.”
Fund’s Investment Strategy:
The scheme seeks to generate income through investment primarily in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and money market instruments.
Fund Manager:
1) Akhil Mittal
Education: Mr. Mittal is B.Com (H) and MBA from University Business School.
Experience: Prior to joining Tata AMC, he has worked with Canara Robeco AMC, Principal Asset Management Company, Edelweiss Securities Ltd. and Rallis India Ltd.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of Tata Floating Rate Fund
| Fund House | Tata Mutual Fund |
| Launch Date | 07-Jul-21 |
| Return Since Launch | 5.49% |
| Benchmark | CRISIL Short-Term Bond Index |
| Riskometer | Low to Moderate |
| Type | Open-ended |
| Assets | Rs 255 Cr |
| (As on 31-Jul-2023) | |
| Expense | 0.30% |
| (As on 30-Jun-2023) | |
| Risk Grade | Average |
| Return Grade | Above Average |
Tata Floating Rate Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Tata Floating Rate Dir | 4.75 | 0.05 | 0.62 | 1.87 | 3.93 | 6.96 | — | — | — | — |
| CCIL T Bill Liquidity Weight | 2.72 | 0.05 | 0.36 | 1.24 | 2.33 | 4.03 | — | — | — | — |
| Debt: Floater | 4.90 | 0.07 | 0.66 | 2.00 | 4.15 | 7.35 | — | — | — | — |
| Rank within category | 8 | 10 | 8 | 9 | 10 | 8 | — | — | — | — |
| Number of funds in category | 12 | 13 | 13 | 13 | 12 | 12 | 7 | 5 | 5 | 5 |
Tata Floating Rate 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 | |
| Tata Floating Rate Dir | 4 star | 6.96 | — | — | 0.30 | 255 | 5.49 | — | 2Y 1M |
| HDFC Floating Rate Debt Dir | 4 star | 7.83 | 5.82 | 7.06 | 0.26 | 17,080 | 7.83 | — | 10Y 7M |
| ABSL Floating Rate Dir | 5 star | 7.37 | 5.43 | 6.94 | 0.23 | 12,690 | 7.98 | — | 10Y 7M |
| ICICI Pru Floating Interest Dir | 2 star | 9.12 | 6.28 | 7.48 | 0.62 | 13,699 | 8.27 | — | 10Y 7M |
| Nippon Ind Floating Rate Dir | 3 star | 7.04 | 5.48 | 7.39 | 0.30 | 7,253 | 7.93 | — | 10Y 7M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 13 | 47 |
| Macaulay Duration (yrs) | 1.25 | 1.26 |
| Average Maturity (yrs) | 1.54 | 2.83 |
| Yield to Maturity (%) | 7.81 | 7.64 |
| Avg Credit Rating | AAA | — |
Chanakya’s Mutual Fund Guidance For Tata Floating Rate Fund
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