Nippon India Floating Rate Fund Direct-IDCW Monthl...
(Scheme Rating)
NAV as of Aug 30, 2024
11.300.02%
- IDCW Monthly - Direct
(Earn upto 0.29% Extra Returns with Direct Plan)
Fund Category:
Debt: Floater
Expense Ratio:
0.31%(0.29% Category
average)Fund Size:
Rs. 7,764.33 Cr(14.55% of Investment in Category)
- Invest in MFADD TO PORTFOLIO
Nippon India Floating Rate Fund Direct-IDCW Monthly
(Scheme Rating)
NAV as of Aug 30, 2024
11.300.02%
Expense Ratio:
0.31%
Fund Size:
Rs. 7,764.33 Cr
Fund Category:
Debt: Floater
1. Current NAV: The Current Net Asset Value of the Nippon India Floating Rate Fund - Direct Plan as of Aug 30, 2024 is Rs 11.30 for IDCW Monthly option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 8.04% (1yr), 6.09% (3yr), 7.13% (5yr) and 7.94% (since launch). Whereas, Category returns for the same time duration are: 7.95% (1yr), 5.94% (3yr) and 6.39% (5yr).
3. Fund Size: The Nippon India Floating Rate Fund - Direct Plan currently holds Assets under Management worth of Rs 7764.33 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.31% for Direct plan as on Aug 02, 2024.
5. Exit Load: The given fund doesn't attract any Exit Load.
6. Minimum Investment: Minimum investment required is Rs 5000 and minimum additional investment is Rs 1000. Minimum SIP investment is Rs 100.
Nippon India Floating Rate Fund Direct-IDCW Monthly Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.73 2.24 4.31 8.04 6.07 7.14 Category Avg 0.71 2.26 4.33 7.92 5.93 6.39 Rank within Category 6 10 10 9 10 2 No. of funds within Category 13 13 13 13 12 7 - Loading...
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Return Comparison
- This Fund
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Nippon India Floating Rate Fund Direct-IDCW Monthly Fund Details
Investment Objective - The scheme aims to generate regular income through investment in a portfolio comprising substantially of floating rate debt. It would not invest more than 75% of its assets in fixed rate debt securities including fixed rate securitised debt, money market instruments and floating rate debt Instruments swapped for fixed returns.
Fund House | Nippon India Mutual Fund |
Launch Date | Jan 01, 2013 |
Benchmark | NIFTY Short Duration Debt Index A-II |
Return Since Launch | 7.94% |
Riskometer | Moderate |
Type | Open-ended |
Risk Grade | Average |
Return Grade | Below Average |
Nippon India Floating Rate Fund Direct-IDCW Monthly Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | 100.00 |
Minimum Withdrawal (Rs.) | 100.00 |
Exit Load | 0% |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | 2.74 | 9.43 | 0.44 | 3.2092 |
Average Maturity(Yrs) | 3.5 | 23.6 | 0.9972 | 6.9468 |
Yield to Maturity(%) | 7.68 | 8.4489 | 7.1642 | 7.6383 |
Avg Credit Rating | Average | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 18.33 | 42.39 |
Low Risk | 76.21 | 52.67 |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | 5.46 | 4.94 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | 14.88 | 39.28 |
CD | 1.23 | 0.92 |
T-Bills | - | 0.16 |
CP | 0.62 | 0.10 |
NCD & Bonds | 71.64 | 49.97 |
PTC | - | 0.09 |
Cash & Others | 8.91 | 8.11 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
GOI | Long-term Debt | Sovereign | SOV | 3,969.45 | 5.11 | 3,95,00,000 |
7.79% Small Industries Devp Bank of India Ltd 14/05/2027 | Long-term Debt | Financial | AAA | 3,263.57 | 4.20 | 32,500 |
GOI | Long-term Debt | Sovereign | SOV | 3,076.69 | 3.96 | - |
8.04% HDB Financial Services Ltd 25/02/2026 | Long-term Debt | Financial | AAA | 2,991.72 | 3.85 | 3,000 |
6.4% Jamnagar Utilities and Power Pvt Ltd 29/09/2026 | Long-term Debt | Capital Goods | AAA | 2,723.32 | 3.51 | 2,800 |
7.57% Indian Railway Finance Corporation Ltd 18/04/2029 | Long-term Debt | Financial | AAA | 2,515.76 | 3.24 | 25,000 |
REC Ltd | Long-term Debt | Financial | AAA | 2,506.98 | 3.23 | - |
7.77% Power Finance Corporation Ltd 15/07/2026 | Long-term Debt | Financial | AAA | 2,206.38 | 2.84 | 22,000 |
National Bank For Agriculture & Rural Development | Long-term Debt | Financial | AAA | 2,108.24 | 2.72 | - |
8.37% Madhya Pradesh State 05/12/2028 | Long-term Debt | Others | SOV | 2,088.21 | 2.69 | 2,00,00,000 |
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Peer Comparison
Cumulative Returns
SIP returns
Discrete Returns
Quant Measures
Asset Allocation
Scheme Name NAV(Rs./Unit) Scheme Rating AUM(Rs. Cr) 1M 1Y 3Y 5Y Nippon India Floating Rate Fund Direct-IDCW Monthly 11.30 7,764.33 0.73 8.04 6.07 7.14 HDFC Floating Rate Debt Fund Direct Plan-IDCW Monthly 10.15 15,189.39 0.71 8.29 6.53 7.00 Bandhan Floating Rate Fund Direct-IDCW Monthly 10.06 277.49 0.72 7.96 6.06 - Tata Floating Rate Fund Direct - IDCW Monthly 12.09 215.33 0.64 7.58 6.27 - SBI Floating Rate Debt Fund Direct-IDCW Monthly 12.57 1,126.76 0.70 8.42 6.39 -
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Standard Deviation
Standard Deviation
Standard deviation is the deviation of the fund's return around mean.
Moderate Volatility
0.90VS0.90Fund Vs Category Avg
Beta
Beta
Beta shows the portfolio risk in relation to the market. A beta of less than 1 means that the fund returns are less volatile compared to the broader market. A beta of more than 1 means that the fund returns are more volatile than the broader markets. A beta equal to 1 means that fund's volatility is in line with the broader market.
High Volatality
1.80VS1.55Fund Vs Category Avg
Sharpe Ratio
Sharpe Ratio
Sharpe ratio is a risk adjusted performance measure. A fund with a higher Sharpe ratio is considered better than a fund with a lower Sharpe ratio.
Poor risk-adjusted returns
0.38VS0.67Fund Vs Category Avg
Treynor's Ratio
Treynor's Ratio
Treynor is a risk adjusted performance measure. A fund with a higher Treynor ratio is considered better than a fund with a lower Treynor ratio.
Poor risk-adjusted returns
0.19VS0.40Fund Vs Category Avg
Jensen's Alpha
Jensen's Alpha
Alpha shows the ability of the fund manager to outperform the market. A higher Alpha is preferred.
Better risk-adjusted returns
4.02VS3.76Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Poor average monthly returns
5.88VS6.14Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Fund Manager
- A.C.Anju ChhajerSince Feb 20205 schemes
Ms. Chhajer is a B.Com (H) and a Chartered Accountant. Prior to joining Nippon India Mutual Fund Ltd. as a fund manager, she has worked with National Insurance Company as a Money Maker Instruments and D.C Dharewa & Co.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Nippon India Arbitrage Fund Direct-IDCW Monthly Arbitrage 14.13 15,616.73 8.22 Nippon India Money Market Fund Direct-IDCW Monthly Money Market 1,017.87 17,694.49 7.71 Nippon India Liquid Fund Direct-IDCW Monthly Liquid 1,588.28 32,733.81 7.44 Nippon India Low Duration Fund Direct-IDCW Monthly Low Duration 1,036.06 6,227.95 7.61 Nippon India India Equity Savings Fund - Segregated Portfolio 1 Direct-IDCW Monthly Equity Savings 0.26 Unrated 25.81 -
More Nippon India Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Nippon India Small Cap Fund Direct- Growth | 46,044.13 | -1.89 | 4.83 | 11.55 | 52.33 | 33.78 | |
Nippon India Liquid Fund Direct-Growth | 35,418.60 | 0.60 | 1.86 | 3.61 | 7.32 | 5.41 | |
Nippon India Multi Cap Fund Direct-Growth | 26,808.69 | 1.42 | 8.40 | 13.33 | 48.44 | 28.32 | |
Nippon India Growth Fund Direct- Growth | 24,480.78 | -0.98 | 5.09 | 15.37 | 54.08 | 27.49 | |
Nippon India Large Cap Fund Direct-Growth | 22,766.78 | 3.09 | 10.12 | 15.89 | 43.69 | 23.39 | |
Nippon India ELSS Tax Saver Fund Direct-Growth | 14,287.55 | 2.03 | 8.51 | 16.27 | 41.23 | 20.60 | |
Nippon India Arbitrage Fund Direct-Growth | 13,853.85 | 0.66 | 2.29 | 4.01 | 8.27 | 6.18 | |
Nippon India Money Market Fund Direct-Growth | 13,164.78 | 0.73 | 1.95 | 3.72 | 7.76 | 5.79 | |
Nippon India Floating Rate Fund Direct-Growth | 7,844.38 | 0.76 | 2.09 | 3.68 | 8.27 | 5.92 | |
Nippon India Focused Equity Fund Direct-Growth | 7,655.12 | -0.46 | 1.41 | 6.65 | 30.84 | 16.03 |
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1. Nippon India Floating Rate Fund - Direct Plan is Open-ended Floater Debt scheme which belongs to Nippon India Mutual Fund House.
2. The fund was launched on Jan 01, 2013.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme aims to generate regular income through investment in a portfolio comprising substantially of floating rate debt. It would not invest more than 75% of its assets in fixed rate debt securities including fixed rate securitised debt, money market instruments and floating rate debt Instruments swapped for fixed returns. "
2. It is benchmarked against NIFTY Short Duration Debt Index A-II.
Asset Allocation & Portfolio Composition
1. The portfolio allocation of debt securities primarily have 2 kinds of risks: interest rate risk & credit risk. While the interest rate movements are driven by the fund's duration, credit quality of debt securities are based on the weighted average credit ratings of a fund. Generally, funds with high credit quality will have the weighted average credit rating of AA- and higher rated securities, funds with medium credit quality will hold securities having credit rating lying between A- to BBB- and funds with low credit quality will hold securities having average credit rating of less than BBB-. Credit rating is a qualitative tool that basically assesses the creditworthiness and financial soundness of a company and takes into consideration several factors including the default rate and solvency of the concerned business entity.
2. The portfolio of the fund has securities with varying levels of maturities. Duration takes into consideration the sensitivity of the average maturity of these securities with respect to the interest rate changes. The Average Maturity of Nippon India Floating Rate Fund - Direct Plan is 3.5 years and Duration is 2.73533809 years. Generally, securities with high maturity are more sensitive to interest rate changes. So, an investor with a low risk appetite may look to invest in a fund with low maturity and duration vis-a-vis category levels.
3. All these parameters - average maturity, duration, interest rate changes, credit quality, credit rating, liquidity etc. need to be looked at in conjunction with each other to determine the quality of portfolio of a fund.
Tax Implications on Nippon India Floating Rate Fund Direct-IDCW Monthly
Capital Gains Tax Implications:
If the investment is made after Apr 1, 2023:
1. The entire amount of gain will be added to the investor's income (irrespective of the period of investment) and will be taxed as per his/her applicable slab rate.
If the investment is made before Apr 1, 2023:
1. If units are redeemed within 3 years of investment, the whole gain will be added to the investor's income and taxed as per his/her applicable slab rate.
2. For units redeemed after 3 years of investment, gains will be taxed at a rate of 20% post-indexation benefits. Indexation is a process of recalculating the purchase price after accounting for inflation into it. The benefit of indexation lies in lowering one's capital gains which brings down the taxable income and thereby reduces taxes on it.
Dividend Tax Implications:
1. For Dividend Distribution Tax, the dividend income from this fund will get added to an investor’s income and taxed according to his/her respective tax slabs.
2. Also, for dividend income more than Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
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FAQs about Nippon India Floating Rate Fund Direct-IDCW Monthly
- Is it safe to invest in Nippon India Floating Rate Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Nippon India Floating Rate Fund - Direct Plan comes under Moderate risk category.
- What is the category of Nippon India Floating Rate Fund - Direct Plan?Nippon India Floating Rate Fund - Direct Plan belongs to the Debt : Floater category of funds.
- How Long should I Invest in Nippon India Floating Rate Fund - Direct Plan?The suggested investment horizon of investing into Nippon India Floating Rate Fund - Direct Plan is <1 years. The suggested investment horizon is the minimum time required for holding investments in the fund to reduce its downside risk and ensure that the returns become more predictable.
- Who manages the Nippon India Floating Rate Fund - Direct Plan?The Nippon India Floating Rate Fund - Direct Plan is managed by Anju Chhajer (Since Feb 01, 2020).
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