Mahindra Manulife
Short Duration Fund
(An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years (please refer to page no. 39 of SID)
A moderate interest rate risk and moderate credit risk)
| One Pager | September 30, 2024 |
|
|
|
|
@Refer SID for details
- Overarching Fund Positioning
- Accrual/Credit calls at the short end of the yield curve
- Rates call with a mix of short and long highly rated securities.
- Enhance risk adjusted return through asset allocation within credits and sovereign securities basis underlying demand supply scenario and evolving macro views.
- Endeavour would be to complement fund performance through tactical positioning across term structure at appropriate times.
- The Annualised Portfolio YTM of the portfolio is
around 7.57%
- The Modified duration of the portfolio is around 2.70
years and would target being in quartile one till the time
anecdotal data suggests a weak growth outlook.
- Our portfolio continues to have a large allocation towards
gilts, accounting for around 50% of the duration as we are
wary of the spreads increasing in AAA credits.
| Instruments | Indicative Allocation (%of net assets) | Risk Profile | |
| Minimum | Maximum | Low/ Moderate/ High | |
| Debt* and Money Market Instruments | 0% | 100% | Low to Moderate |
| Units issued by REITs & InvITs | 0% | 10% | Moderately High |
*Includes securitized debt (excluding foreign securitized debt) and debt instruments having structured obligations/ credit enhancements (such as corporate / promoter guarantee, conditional and contingent liabilities, covenants, pledge and / or Non Disposal Undertaking of shares etc) upto 35% 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 7 months (Managing since February 23, 2021)
FUND MANAGER : Mr. Pranav Patel^
^(Dedicated Fund Manager for overseas Investment)
Total Experience : 9 years
Experience in managing this fund: 9 months (Managing since January 05, 2024)
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 September 30, 2024 |
|
| AUM (Rs. In Crore) | 63.48 |
| Quaterly AAUM (Rs. In Crore) | 59.09 |
| Monthly AAUM (Rs. In Crore) | 65.26 |
| Annualised Portfolio YTM*1 | 7.75% |
| Macaulay Duration (Years) | 2.82 |
| Modified Duration | 2.70 |
| Residual Maturity (Years) | 3.39 |
| PREVIOUS MONTH August 31, 2024 | |
| AUM (Rs. In Crore) | 63.68 |
| Quaterly AAUM (Rs. In Crore) | - |
| Monthly AAUM (Rs. In Crore) | 60.77 |
| Annualised Portfolio YTM*1 | 7.61% |
| Macaulay Duration (Years) | 2.82 |
| Modified Duration | 2.69 |
| Residual Maturity (Years) | 3.77 |
1Yield to maturity should not be construed as minimum return offered by the Scheme
**Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS. Data as on September 30, 2024
**Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS. Data as on September 30, 2024
| CURRENT MONTH September 30, 2024 | |
| Security | % to N.A. |
| 7.32% GOI (MD 13/11/2030) (SOV) | 31.67% |
| Kotak Mahindra Bank Limited (CRISIL A1+ rated CD) | 7.42% |
| Bajaj Housing Finance Limited (CRISIL AAA rated CB) | 5.51% |
| Muthoot Finance Limited (CRISIL AA+ rated CB) | 4.75% |
| Mindspace Business Parks REIT (CRISIL AAA rated CB) | 4.74% |
| Cholamandalam Investment and Finance Company Ltd (ICRA AA+ rated CB) | 4.73% |
| Godrej Industries Limited (CRISIL AA rated CB) | 4.73% |
| LIC Housing Finance Limited (CRISIL AAA rated CB) | 4.60% |
| 7.1% GOI (MD 08/04/2034) (SOV) | 4.03% |
| Shriram Finance Limited (CRISIL AA+ rated CB) | 3.95% |
| Total | 76.14% |
| PREVIOUS MONTH August 31, 2024 | |
| Security | % to N.A. |
| 7.32% GOI (MD 13/11/2030) (SOV) | 31.38% |
| Mindspace Business Parks REIT (CRISIL AAA rated CB) | 4.72% |
| Cholamandalam Investment and Finance Company Ltd (ICRA AA+ rated CB) | 4.72% |
| Godrej Industries Limited (CRISIL AA rated CB) | 4.70% |
| Power Finance Corporation Limited (CRISIL AAA rated CB) | 4.67% |
| LIC Housing Finance Limited (CRISIL AAA rated CB) | 4.57% |
| 4.7% GOI FRB (MD 22/09/2033) (SOV) | 4.04% |
| 7.1% GOI (MD 08/04/2034) (SOV) | 3.99% |
| Shriram Finance Limited (CRISIL AA+ rated CB) | 3.93% |
| Bajaj Housing Finance Limited (CRISIL AAA rated CB) | 3.92% |
| Total | 70.65% |
| FRESH ADDITIONS | COMPLETE EXITS |
| Security | Security |
| Kotak Mahindra Bank Limited (CD) | 4.7% GOI FRB (MD 22/09/2033) (SOV) |
| - | Power Finance Corporation 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: 23-Feb-21. ##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.
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. Pranav Patel is managing the scheme since January 05, 2024.
^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 11 schemes of Mahindra Manulife Mutual Fund and Mr. Pranav Patel$ manages 5 schemes
of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.
Mahindra Manulife Short Duration Fund
This product is suitable for investors who are seeking*:
• Income over short to medium
term.
• Investment in debt and money
market instruments.
CRISIL Short Duration Debt A-II Index
Benchmark Riskometer
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Get in Touch: Unit No. 204, 2nd Floor, Amiti Building, Piramal Agastya Corporate Park, LBS Road, Kamani Junction, Kurla (W), Mumbai – 400 070.
Phone: +91-22-66327900, Fax: +91-22-66327932 Toll Free No.: 1800 419 6244
Website: www.mahindramanulife.com