0ne of the largest short-duration funds in terms of AUM, it is an active, yet calculated, play on credit and duration. Maintaining a balance of risk and returns, the fund takes tactical lower-rated exposure alongside investing in bonds with a maturity over three years.
Exposure to lower-rated papers is well-contained at 10-15 per cent of the portfolio. However, in the last two years, it has averaged at around 7.74 per cent, which is still higher than many of its peers. Additionally, it takes exposure to additional tier-1 and tier-2 bonds, which are riskier than the plain-vanilla bonds.
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