February 3, 2024
mayank
Bank of India Ultra Short Duration Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 2,958.2052
Weekly NAV IDCW: Rs 1,007.7228
Daily NAV IDCW: Rs 1,011.9280
NAV Bonus: Rs 2,943.6698
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 fund aims to generate reasonable market related returns by investing in Money Market instruments. Also seeks to provide high liquidity to investors. The scheme would be investing more than 50% into instruments having maturity less than or equal to 1 year and rest having maturity more than 1 year with low /medium risk appetite.
Fund Manager:
1) Mithraem Bharucha
Education: Mr. Bharucha is a BMS and MBA
Experience: Prior to joining BOI AXA Investment Managers Private Limited, he has worked with YES Asset Management (India) Limited and BNP Paribas Asset Management India Pvt. Ltd.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | Bank of India Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 7.33% |
| Benchmark | CRISIL Ultra Short Duration Debt B-I Index |
| Riskometer | Low to Moderate |
| Type | Open-ended |
| Assets | Rs 131 Cr |
| (As on 31-Dec-2023) | |
| Expense | 0.77% |
| (As on 31-Dec-2023) | |
| Risk Grade | Above Average |
| Return Grade | Below Average |
Trailing Returns (%) of Bank of India Ultra Short Duration Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Bank of India Ultra Short Duration Dir | 0.61 | 0.03 | 0.53 | 1.60 | 3.17 | 6.73 | 5.02 | 5.51 | 6.15 | 7.11 |
| CCIL T Bill Liquidity Weight | 0.46 | 0.07 | 0.37 | 1.24 | 2.27 | 4.55 | 3.14 | 3.29 | 3.53 | 4.03 |
| Debt: Ultra Short Duration | 0.67 | 0.03 | 0.59 | 1.77 | 3.49 | 7.30 | 5.52 | 5.93 | 5.96 | 6.81 |
| Rank within category | 23 | 10 | 23 | 23 | 24 | 23 | 21 | 16 | 7 | 4 |
| Number of funds in category | 24 | 24 | 24 | 24 | 24 | 24 | 23 | 18 | 11 | 11 |
Peer Comparison of Bank of India Ultra Short Duration Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | |
| Bank of India Ultra Short Duration Dir | 1 star | 6.73 | 5.02 | 5.51 | 0.77 | 131 | 7.33 | — | 11Y 1M |
| ICICI Pru Ultra Short Term Dir | 5 star | 7.46 | 5.80 | 6.61 | 0.39 | 13,112 | 8.04 | — | 11Y 1M |
| Nippon Ind Ultra SD Dir | 5 star | 7.63 | 7.35 | 5.74 | 0.38 | 5,445 | 7.13 | — | 11Y 1M |
| Axis Ultra Short Term Dir | 4 star | 7.55 | 5.68 | 6.25 | 0.33 | 4,318 | 6.45 | — | 5Y 4M |
| UTI Ultra SD Dir | 4 star | 7.40 | 6.39 | 5.68 | 0.44 | 1,869 | 7.41 | — | 11Y 1M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 13 | 47 |
| Macaulay Duration (yrs) | 0.46 | 0.40 |
| Average Maturity (yrs) | 0.46 | 0.43 |
| Yield to Maturity (%) | 7.41 | 7.64 |
| Avg Credit Rating | AAA | — |
How to invest in Bank of India Ultra Short Duration Fund?
Chanakya’s Mutual Fund Guidance For Bank of India Ultra Short Duration Fund
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