This product is suitable for investors who are seeking*

• Income over medium term

• Investment predominantly in AA and below rated corporate bonds

*Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Investors understand that their principal

will be at Moderate risk

RelianceCredit Risk Fund

(Formerly Reliance Regular Savings Fund - Debt Option)(An open ended debt scheme predominantly investing

in AA and below rated corporate bonds (excluding AA+ rated corporate bonds))

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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Staying FIXEDgets you nowhere.

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Contact your financial advisor for further detailsCall 1800 300 11111 | www.reliancemutual.com

Sponsors: Reliance Capital

Nippon Life Insurance Company

Reliance Credit Risk Fund

Scheme Details

#Kinjal Desai: Dedicated Fund Manager for Overseas Investments

Fund at a Glance

Current Investment Strategy

• The fund strategy is to benefit from accrual based returns by running a moderate duration portfolio which maintains a prudent balance in exposure towards short to medium tenor corporate bonds and PTCs.

• It endeavors to generate alpha by investing in well researched private sector credit exposures in the plain vanilla and structured space.

• The endeavor is to limit duration risk by limiting individual asset duration to 4 years and overall duration range of 1 to 2 Years and thereby trying to reduce volatility and emphasize more on accruals over a period of time.

• To ensure reasonable liquidity in the portfolio at all points of time, the strategy is to ladder the portfolio in terms of maturity while striving to maintain modified duration in the range of 1 to 2 years.

• Going forward, fund will endeavor to maintain higher carry and run moderate duration strategy in line with market expectations.

• The primary investment objective of this Scheme is to generate optimal returns consistent with moderate level of risk. This income may be complemented by capital appreciation of the portfolio. Accordingly investments shall predominantly be made in Debt and Money Market Instruments

• The fund invests based on short to medium term interest rate view and shape of the yield curve. It typically maintains a moderate duration upto 2 years and invests in well researched credits/ structures for yield enhancement.

• It is ideal for investors who have a low appetite for interest rate volatility and seeking accrual returns.• The fund is intended for investors having a holding period of 3 years or more.

Why Invest in Reliance Credit Risk Fund

• Suitable fund for all kinds of interest rate scenario as the fund emphasis is on maintaining relatively high carry on an ongoing basis.

• The fund also endeavors to provide protection in a rising yield scenario on a steep yield curve mainly because of roll down in maturity and higher gross yields due to the exposure to high accrual assets.

• Dedicated credit team assessing the credit worthiness of the issuers ena-bling the fund manager to make investments in private sector credits.

• Tax efficient due to the indexation benefit available to debt fund if investment is long term as per definition of sec 2 (29A) of The Income Tax Act, 1961

• This fund is well positioned for investors with a holding period of 3 years

Rating Profile as on 28th February, 2019

• To maintain a healthy Risk Return Ratio, within these asset classes the fund manager strives to maintain a balanced exposure in the portfolio through different rating profile.

Portfolio Features as on 28th February, 2019

Weighted Average YTM1 11.29%

Modified Duration 1.68 Yrs

Weighted Average Maturity 2.29 Yrs

1The weighted average YTM displayed above is for the invested amount of the portfolio ( i.e. excluding other receivables) For the entire portfolio weighted average YTM , i.e. including other receivables is 11.02%

Inception Date

Fund Manager#

Fund Size

Benchmark(w.e.f. Oct 12, 2018)

Entry Load

Exit Load**

• 8th June 2005

• Month end AUM: Rs. 9628.23 Crs (Feb 2019)

• NIFTY Credit Risk Bond Index

• Prashant Pimple

• Nil

10% of the units allotted shall be redeemed with-out any exit load, on or before completion of 12 months from the date of allotment of units. Any redemption in excess of such limit in the first 12 months from the date of allotment shall be sub-ject to the following exit load. Redemption of units would be done on First in First out Basis (FIFO):• 1% if redeemed or switched out on or before

completion of 12 months from the date of al-lotment of units

• Nil, if redeemed or switched out after comple-tion of 12 months from the date of allotment of units.

** If charged, the same shall be credited to the scheme immediately net of goods & service tax, if any

RelianceCredit Risk

Fund

HighAccrual

LowVolatilityDedicated

CreditTeam

AAA/SOV/A1+/Cash & Other Receivables, 9.19%AA+, 2.16%AA, 21.20%AA-, 16.77%A+/A/A-/A1, 36.1%BBB+, 8.33%Unrated, 6.25%

Reliance Credit Risk Fund

Portfolio as on 28th February, 2019

Company/Issuer Rating % of Assets

Commercial Paper 1.00

S.D. Corporation Pvt Limited CARE A1+(SO) 1.00

Corporate Bond 77.46

U.P. Power Corporation Limited CRISIL A+(SO)/FITCH AA(SO) 8.34

RMZ Buildcon Private Limited ICRA BBB+(SO) 8.33

Yes Bank Limited ICRA AA- 7.02

Indiabulls Housing Finance Limited CRISIL AAA/CARE AAA 4.98

Vodafone Mobile Services Limited CRISIL A+ 4.40

Reliance Home Finance Limited CARE AA 3.86

Renew Power Limited CARE A+ 3.44

Mariposa Agri Ventures And Hospitalities Private Limited UNRATED 3.29

Nirma Limited CRISIL AA- 3.03

Renew Wind Energy (Raj One) Private Limited CARE A+(SO) 2.99

Aqua Space Developers Pvt Ltd FITCH A 2.60

Narmada Wind Energy Private Limited CARE A+(SO) 2.20

Piramal Enterprises Limited ICRA AA 1.99

Talwandi Sabo Power Limited CRISIL AA(SO) 1.76

Hansdeep Industries & Trading Company Limited CARE AA-(SO) 1.63

Aasan Corporate Solutions Private Limited ICRA AA-(SO) 1.45

United Bank of India CRISIL A+ 1.39

Ess Kay Fincorp Limited CARE A- 1.30

Walwhan Renewable Energy Limited CARE AA(SO) 1.17

Clix Capital Services Pvt Ltd CARE AA- 1.04

Sanghi Industries Limited ICRA A 1.04

Asirvad Microfinance Ltd CRISIL A+ 1.04

Shriram Transport Finance Company Limited CRISIL AA+ 1.02

Aavas Financiers Limited CARE A+ 1.00

Vodafone Idea Limited CARE AA- 0.90

Tata Power Renewable Energy Limited CARE AA(SO) 0.69

Belstar Investment and Finance Private Limited CARE A+ 0.62

Coastal Gujarat Power Limited CARE AA(SO) 0.51

DLF Promenad Ltd CRISIL AA(SO) 0.51

G R Infra Projects Limited CRISIL AA- 0.37

Muthoot Finance Limited CRISIL AA 0.34

Reliance Commercial Finance Limited CARE AA 0.33

Vistaar Financial Services Private Limited ICRA A- 0.30

Dewan Housing Finance Corporation Limited CARE AA+ 0.25

Company/Issuer Rating % of Assets

India Infoline Finance Limited CRISIL AA 0.25

Gruh Finance Limited CRISIL AAA 0.25

JM Financial Credit Solution Limited ICRA AA 0.24

Clix Finance India Private Limited CARE AA- 0.21

IKF Finance Limited CARE A- 0.19

PVR Limited CRISIL AA- 0.16

Aarish Solar Power Private Limited CARE AA-(SO) 0.10

Aashman Energy Private Limited CARE AA-(SO) 0.10

Divyesh Power Private Limited CARE AA-(SO) 0.10

Elena Renewable Energy Private Limited CARE AA-(SO) 0.10

Pratyash Renewable Private Limited CARE AA-(SO) 0.10

SEI Baskara Power Private Limited CARE AA-(SO) 0.10

SEI Enerstar Renewable Energy Private Limited CARE AA-(SO) 0.10

SEI Mihir Energy Private Limited CARE AA-(SO) 0.10

Shreyas Renewable Energy Private Limited CARE AA-(SO) 0.10

Zuvan Energy Private Limited CARE AA-(SO) 0.10

Tata Motors Limited CARE AA 0.05

Reliance Jio Infocomm Limited CRISIL AAA 0.02

Hinduja Leyland Finance Limited CARE AA- 0.01

Oriental Nagpur Betul Highway Limited CRISIL AAA(SO) 0.01

Tata Power Company Limited CARE AA 0.00

Promont Hillside Private Limited CARE AA(SO) 0.00

Floating Rate Note 1.29

Jhajjar Power Limited FITCH A+ 0.78

Dewan Housing Finance Corporation Limited CARE AA+ 0.51

Zero Coupon Bond 10.82

Adani Rail Infra Private Limited BWR A+(SO) 3.23

Vineha Enterprises Private Limited UNRATED 2.59

Essel Corporate Resources Pvt Ltd BWR A+(SO) 2.54

Morgan Credits Private Limited CARE A- 1.12

TATA Realty & Infrastructure Limited CRISIL AA 0.60

KKR India Financial Services Private Limited CRISIL AA+ 0.38

Avantha Realty Limited UNRATED 0.37

PTC 6.49

Indian Receivable Trust 18 CARE AA(SO) 6.49

Cash & Other Receivables 2.94

Grand Total 100.00

Risk factors: Trading volumes and settlement periods may restrict liquidity and debt investments. Investment in Debt is subject to price, credit, and interest rate risk. The NAV of the Scheme may be affected, inter alia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures. The NAV may also be subjected to risk associated with investment in derivatives, foreign securities or script lending as may be permissible by the Scheme Information Document.

Disclaimers:The information herein above is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the read-ers. Before making any investments, the readers are advised to seek independent professional advice, verify the contents in order to arrive at an informed investment decision. None of the Sponsors, the Investment Manager, the Trustee, their respective directors, employees, affiliates or representatives shall be liable in any way for any direct, indirect, special, in-cidental, consequential, punitive or exemplary damages, including on account of lost profits arising from the information contained in this material.

Mutual Fund Investments are subject to market risks,read all scheme related documents carefully.