Tata Floating Rate Fund Direct Growth

Overview

Fund Size (AUM)

₹129.02 Cr

as on 14 Sept 2025

CAGR

8.21%

1 Year

as on 31 Aug 2025

Expense Ratio

0.3 %

as on 31 Aug 2025

Fund Age

4 years 2 months

since 07 Jul 2021

Exit Load

Nil% of NAV

Nil

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Summary

An open-ended debt scheme investing predominantly in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps/ derivatives). A relatively high interest rate risk and moderate credit risk. The objective of the scheme is to generate income through investment primarily in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and money market instruments. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved. The scheme doesn’t assure or guarantee any returns.

Investment Philosophy

The fund invests in either floating rate instruments (instruments whose yields change with change in benchmark rates) or in fixed coupon instruments which are converted to floating rate by using Swaps/Overnight Index Swap (OIS).

Tata Floating Rate fund provides flexibility in response to a changing interest rate environment. The fund aims to utilize the flexibility to manage interest rate risk and enable investors earn reasonable accrual returns. The Fund aims to create a portfolio of optimal credit quality along with lower net duration risk enabling investors to earn reasonable accrual returns.

Portfolio Positioning and Construction

The portfolio must hold at least 65% of the fund in floating rate instruments, which are of two types:

Pure floating rate instruments – Benchmark + Speed
- Better and diversified universe available
- Benchmark generally treasury bill yields and repo rate
Synthetic Instruments which convert fixed rate securities into floating instruments through swaps. – Buy Cash and Pay OIS)
- Normal bonds/G-Sec buy
- Pay OIS
- Position Becomes floating rate (receive fixed coupon- pay fixed OIS – receive floating overnight)

The portfolio of a Floating Rate Fund may be positioned along 3 broad lines:

Buying into a particular maturity and swapped using OIS. The fund manager can then let the maturity of the portfolio run down over time.
A credit strategy where the portfolio is built by buying higher yield papers and gaining accrual returns.
A Flexible strategy where the position is built to sit astride the accrual cycle in order to generate reasonable accrual returns with flexibility in terms of maturity and duration.

Exit Load

NIL

Minimum Investment Amount

SIP

₹ 1,000

Lumpsum

₹ 5,000

Key Measures**	Fund	Benchmark
Standard Deviation	1	0.8
Sharp Ratio
Portfolio Beta	0.92	NA
R Squared	0.57	NA
Treynor	0.13	NA
Jenson	-0.02	NA

Portfolio Macauley Duration
Modified Duration
Average Maturity
YTM*	NA

				Current value of ₹10,000 invested
	Annualized (%)	CRISIL Short Duration Debt A-II IndexBenchmark(%)	CRISIL 10 Year Gilt IndexAdditional Benchmark(%)	Scheme	CRISIL Short Duration Debt A-II IndexBenchmark(%)	CRISIL 10 Year Gilt IndexAdditional Benchmark(%)
Since Inception	6.68%	6.40%	5.57%	₹13,075	₹12,935	₹12,522
Last 5 Years	NA	NA	NA	NA	NA	NA
Last 3 Years	7.58%	7.47%	7.82%	₹12,449	₹12,414	₹12,534
Last 1 Year	8.21%	8.27%	7.77%	₹10,819	₹10,825	₹10,775

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