April 18, 2023
mayank
IDBI Ultra Short Term Fund
NAV Growth: Rs 2,505.4551
NAV IDCW Weekly: Rs 1,103.4595
NAV IDCW Monthly: Rs 1,459.3347
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 provide investors with regular income for there investments by investing in Debt/ Money market instruments with relatively lower interest rate risk such that the Macaulay duration of the portfolio is maintained between 3 months to 6 months.
Fund Manager:
1) Raju Sharma
Education: Mr. Sharma is a Commerce Graduate and holds a degree of CA and LLB.
Experience: Prior to joining IDBI Mutual Fund, he has worked with Tata Mutual Fund, Indiabulls Mutual Fund, JM Morgan Stanley and DHFL.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 5,000 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | IDBI Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 7.18% |
| Benchmark | CRISIL Ultra Short Duration Debt B-I Index |
| Riskometer | Low to Moderate |
| Type | Open-ended |
| Assets | Rs 198 Cr |
| (As on 28-Feb-2023) | |
| Expense | 0.25% |
| (As on 28-Feb-2023) | |
| Risk Grade | Average |
| Return Grade | Above Average |
IDBI Ultra Short Term Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| IDBI Ultra ST Dir | 2.04 | 0.07 | 0.73 | 1.74 | 3.43 | 5.74 | 5.05 | 5.88 | 6.35 | 7.11 |
| CCIL T Bill Liquidity Weight | 1.13 | -0.03 | 0.42 | 1.00 | 2.03 | 3.11 | 2.52 | 3.23 | 3.51 | 4.09 |
| Debt: Ultra Short Duration | 2.14 | 0.07 | 0.77 | 1.84 | 3.55 | 5.81 | 5.01 | 5.56 | 6.10 | 7.22 |
| Rank within category | 23 | 10 | 23 | 23 | 23 | 17 | 8 | 6 | 7 | 7 |
| Number of funds in category | 25 | 25 | 25 | 25 | 25 | 25 | 23 | 12 | 12 | 11 |
IDBI Ultra Short Term Fund Peer Comparison
| Fund name | Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age |
| IDBI Ultra ST Dir | 3 star | 5.74 | 5.05 | 5.88 | 0.25 | 198 | 7.18 | — | 10yrs 3mo |
| HDFC Ultra ST Dir | 4 star | 5.86 | 5.24 | — | 0.34 | 11,347 | 6.20 | — | 4yrs 6mo |
| ICICI Pru Ultra ST Dir | 4 star | 6.06 | 5.71 | 6.72 | 0.39 | 10,735 | 8.10 | — | 10yrs 3mo |
| Nippon Ind Ultra SD Dir | 5 star | 6.31 | 6.88 | 5.94 | 0.38 | 3,907 | 7.10 | — | 10yrs 3mo |
| Axis Ultra ST Dir | 4 star | 6.11 | 5.23 | — | 0.31 | 3,643 | 6.30 | — | 4yrs 7mo |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 16 | 43 |
| Modified Duration (yrs) | 0.32 | 0.37 |
| Average Maturity (yrs) | 0.38 | 0.41 |
| Yield to Maturity (%) | 7.15 | 7.53 |
| Avg Credit Rating | AAA | — |
Chanakya’s Mutual Fund Guidance For IDBI Ultra Short Term Fund
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