Canara Robeco Mutual Fund and Mahindra Manulife Mutual Fund have announced benchmark revisions for several of their schemes, effective from March 11, 2024.
This move possibly comes in response to the Securities and Exchange Board of India's (SEBI's) advice to the
Association of Mutual Funds in India (AMFI) to provide comprehensive guidelines, encouraging actively managed debt-oriented mutual fund schemes to align their reference benchmarks with the PRC matrix-based Tier-1 variant.
Canara Robeco Mutual Fund has decided to update benchmarks for the following funds:
| Scheme Name | Existing Benchmark | Revised Benchmark |
|---|
| Canara Robeco Ultra Short Term Fund | CRISIL Ultra Short Duration Debt B-I Index | CRISIL Ultra Short Duration Debt A-I Index |
| Canara Robeco Savings Fund | CRISIL Low Duration Debt B-I Index | CRISIL Low Duration Debt A-I Index |
| Canara Robeco Short Duration Fund | CRISIL Short Duration Debt B-II Index | CRISIL Short Duration Debt A-II Index |
| Canara Robeco Income Fund | CRISIL Medium to Long Duration Debt B-III Index | CRISIL Medium to Long Duration Debt A-III Index |
| Canara Robeco Dynamic Bond Fund | CRISIL Dynamic Bond B-III Index | CRISIL Dynamic Bond A-III Index |
| Canara Robeco Corporate Bond Fund | CRISIL Corporate Bond B-III | CRISIL Corporate Debt A-II Index |
| Canara Robeco Banking and PSU Debt Fund | CRISIL Banking and PSU Debt Index | CRISIL Banking and PSU Debt A-II Index |
(Source: Value Research)
Mahindra Manulife Mutual Fund has decided to update benchmarks for the following funds:
| Scheme Name | Existing Benchmark | Revised Benchmark |
|---|
| Mahindra Manulife Dynamic Bond Fund | CRISIL Dynamic Bond B-III Index | CRISIL Dynamic Bond A-III Index |
| Mahindra Manulife Liquid Fund | CRISIL Liquid Debt B-I Index | CRISIL Liquid Debt A-I Index |
| Mahindra Manulife Low Duration Fund | CRISIL Low Duration Debt B-I Index | CRISIL Low Duration Debt A-I Index |
| Mahindra Manulife Short Duration Fund | CRISIL Short Duration Debt B-II Index | CRISIL Short Duration Debt A-II Index |
| Mahindra Manulife Ultra Short Duration Fund | CRISIL Ultra Short Duration Debt B-I Index | CRISIL Ultra Short Duration Debt A-I Index |
(Source: Value Research)
Investors should be attentive to these changes, as they can impact fund performance and risk profiles, experts say.
It is recommended that investors review their portfolios, understand the implications of benchmark changes, consult financial advisors, and stay informed about any additional guidelines from SEBI that may affect
mutual fund investments.
