Mahindra Manulife
Ultra Short Duration Fund
(An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 to 6 months
(please refer to page no. 31 of SID).
A relatively low interest rate risk and moderate credit risk)
| One Pager | June 2023 |
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- Look to deploy dominant part of the portfolio in AAA rated assets
- Target a portfolio duration of 3 -6 months
- Aim to minimize concentration risk by controlling sector and group exposures
- Hold sizeable part of the portfolio in short tenor securities and other liquid instruments
- Laddered approach to liquidity
- The Residual maturity of the portfolio is around
188 days
- We will remain in this maturity segment as we move ahead through the next month
- The Annualised Portfolio YTM of the portfolio is
around 7.44%
| Asset Class | Indicative Allocation (%of net assets) | Risk Profile | |
| Minimum | Maximum | Low/ Moderate/ High | |
| Debt* & Money Market instruments | 0% | 100% | Low to Moderate |
| Units issued by REITs & InvITs | 0% | 10% | Moderately High |
* Includes securitized debt up to 30% of the net assets of the Scheme and structured
obligations (such as corporate / promoter guarantee, conditional and contingent liabilities,
covenants, pledge and / or Non Disposal Undertaking of shares etc) upto 25% of the net
assets of the Scheme.
Note: For detailed asset allocation pattern, please refer SID/KIM of the Scheme available on
our website www.mahindramanulife.com or visit the nearest ISC.
Entry Load: N.A.
Exit Load: Nil
FUND MANAGER : MR. RAHUL PAL
Total Experience : 22 years
Experience in managing this fund: 3 years and 8 months (Managing since October 17, 2019)
FUND MANAGER : MR. AMIT GARG
Total Experience : 19 years
Experience in managing this fund: 3 years and 1 month (Managing since June 8, 2020)
Note: The data/statistics given above are to explain general market trends in the securities market, it should not be construed as any research report/research recommendation.
| CURRENT MONTH June 30, 2023 |
|
| AUM (Rs. In Crore) | 197.39 |
| Quarterly AAUM (Rs. In Crore) | 176.12 |
| Monthly AAUM (Rs. In Crore) | 195.68 |
| Annualised Portfolio YTM* | 7.44% |
| Macaulay Duration (days) | 182.57 |
| Modified Duration | 0.48 |
| Residual Maturity (days) | 188.18 |
| PREVIOUS MONTH May 31, 2023 |
|
| AUM (Rs. In Crore) | 184.72 |
| Quarterly AAUM (Rs. In Crore) | - |
| Monthly AAUM (Rs. In Crore) | 179.64 |
| Annualised Portfolio YTM* | 7.35% |
| Macaulay Duration (days) | 137.79 |
| Modified Duration | 0.37 |
| Residual Maturity (days) | 139.81 |
*Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS. Data as on June 30, 2023
*Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS. Data as on June 30, 2023
| CURRENT MONTH June 30, 2023 | |
| Security | % to N.A. |
| Power Finance Corporation Limited (CRISIL AAA rated CB) | 5.14% |
| Power Grid Corporation of India Limited (CRISIL AAA rated CB) | 5.12% |
| Housing & Urban Development Corporation Limited (ICRA AAA rated CB) | 5.07% |
| L&T Metro Rail (Hyderabad) Limited (CRISIL A1+ rated CP) | 5.07% |
| JM Financial Services Limited (ICRA A1+ rated CP) | 5.06% |
| National Bank For Agriculture and Rural Development (CRISIL AAA / ICRA AAA rated CB) | 5.05% |
| Export Import Bank of India (CRISIL A1+ rated CD) | 5.03% |
| Godrej Properties Limited (ICRA A1+ rated CP) | 4.93% |
| 182 Days Tbill (MD 21/12/2023) (SOV) | 4.92% |
| 364 Days Tbill (MD 28/12/2023) (SOV) | 4.91% |
| Total | 50.28% |
| PREVIOUS MONTH May 31, 2023 | |
| Security | % to N.A. |
| Power Finance Corporation Limited (CRISIL AAA rated CB) | 5.50% |
| TATA Realty & Infrastructure Limited (ICRA AA+ rated CB) | 5.42% |
| Housing & Urban Development Corporation Limited (ICRA AAA rated CB) | 5.41% |
| ICICI Bank Limited (ICRA A1+ rated CD) | 5.39% |
| National Bank For Agriculture and Rural Development (CRISIL AAA / ICRA AAA rated CB) | 5.39% |
| L&T Metro Rail (Hyderabad) Limited (CRISIL A1+ rated CP) | 5.38% |
| JM Financial Services Limited (ICRA A1+ rated CP) | 5.37% |
| Export Import Bank of India (CRISIL A1+ rated CD) | 5.34% |
| Godrej Properties Limited (ICRA A1+ rated CP) | 5.23% |
| 364 Days Tbill (MD 28/12/2023) (SOV) | 5.22% |
| Total | 53.65% |
| FRESH ADDITIONS | COMPLETE EXITS |
| Security | Security |
| 182 Days Tbill (MD 21/12/2023) (SOV) | 182 Days Tbill (MD 07/09/2023) (SOV) |
| Embassy Office Parks REIT (CB) | ICICI Bank Limited (CD) |
| L&T Finance Limited (CP) | Kotak Mahindra Investments Limited (CP) |
| Northern Arc Capital Limited (CP) | TATA Realty & Infrastructure Limited (CB) |
| Power Grid Corporation of India Limited (CB) | |
| REC Limited (CB) | |
| TVS Credit Services Limited (CB) |
Note: The companies/stock(s) referred above are only for the purpose of disclosure of significant portfolio changes during the month and should not be construed as recommendation to buy/sell/ hold. The fund manager may or may not choose to hold these companies/stocks, from time to time. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s).
| SYSTEMATIC INVESTMENT PLAN |
| WITH THIS YOU CAN • Build corpus in the long term • Take advantage of rupee cost averaging • Experience the power of compounding even on small investments |
| CHOICE OF FREQUENCIES • Weekly • Monthly • Quarterly |
| CHOICE OF DATES Any date of your choice |
| MINIMUM AMOUNTS / INSTALMENTS • 6 instalments of ₹ 500 each under weekly frequency • 6 instalments of ₹ 500 each under monthly frequency • 4 instalments of ₹ 1500 each under quarterly frequency |
| SYSTEMATIC TRANSFER PLAN |
| WITH THIS YOU CAN • Take measured exposure into a new asset class • Rebalance your portfolio |
| CHOICE OF FREQUENCIES • Daily • Weekly • Monthly • Quarterly |
| CHOICE OF DATES Any date^ of your choice |
| MINIMUM AMOUNTS / INSTALMENTS • 6 instalments of ₹500 each under daily, weekly and monthly frequency • 4 instalments of ₹1500 each under quarterly frequency |
| SYSTEMATIC WITHDRAWAL PLAN |
| WITH THIS YOU CAN • Meet regular expenses |
| CHOICE OF FREQUENCIES • Monthly • Quarterly |
| CHOICE OF DATES Any date of your choice |
| MINIMUM AMOUNTS / INSTALMENTS • 2 instalments of ₹ 500 each under monthly / quarterly frequency |
^STP can be registered for any date under the monthly and quarterly frequencies and for any business day under the weekly frequency.
^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 17-Oct-19.
Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Since inception returns of the scheme is calculated on face value of Rs. 1,000 invested at inception. The performance details provided above are of Growth Option under Regular Plan. Different Plans i.e Regular Plan and Direct Plan under the scheme has different expense structure. *Based on standard investment of Rs. 10,000 made at the beginning of the relevant period. Mr Amit Garg is managing this scheme since June 8, 2020. Performance details of other schemes managed by the Fund Manager(s) is available at the end of the document.
^Benchmark CAGR – Compounded Annual Growth Rate.
$Dedicated Fund Manager for Overseas Investments
Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. The performance details provided above are of Growth Option under Regular Plan Different Plans i.e Regular Plan and Direct Plan under the scheme has different expense structure. Mr. Rahul Pal manages 10 schemes of
Mahindra Manulife Mutual Fund and Mr. Amit Garg manages 4 schemes of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.
Note: ##Pursuant to change in Fund Management Responsibilities, the scheme shall be co-managed by Mr. Manish Lodha, Mr. Renjith Sivaram, Mr. Rahul Pal and Mr. Kush Sonigara (Dedicated Fund Manager for Overseas Investments)effective July 3, 2023.
Note: ^^Pursuant to change in Fund Management Responsibilities, the scheme shall be managed by Mr. Kush Sonigara (Dedicated Fund Manager for Overseas Investments) and Mr. Amit Garg effective July 3, 2023.
Matrix for debt schemes based on Interest Rate Risk and Credit Risk is as follows:
Mahindra Manulife Ultra Short Duration Fund
This product is suitable for investors who are seeking*:
• Regular Income over short term.
• Investment in a portfolio of short
term debt and money market
instruments.
CRISIL Ultra Short Duration Debt B-I Index
Benchmark Riskometer
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Get in Touch: Sadhana House, 1st Floor, 570,
P.B. Marg, Worli, Mumbai - 400 018, India.
Phone: +91-22-66327900, Fax: +91-22-66327932
Website: www.mahindramanulife.com