Baroda BNP Paribas
Ultra Short Duration Fund
       (An open ended ultra short term debt scheme
investing in instruments such that the Macaulay duration
of the portfolio is between 3 months and 6 months.
A Relatively Low Interest Rate Risk and Moderate Credit Risk Scheme)
Baroda BNP Paribas
Ultra Short Duration Fund
      (An open ended ultra short term debt scheme
investing in instruments such that the Macaulay duration
of the portfolio is between 3 months and 6 months.
A Relatively Low Interest Rate Risk and Moderate Credit Risk Scheme)
March 2025

March 2025


Investment Objective

The primary objective of the Scheme is to generate regular income by investing in a portfolio of debt and money market instruments such that the Macaulay duration of the portfolio is between 3 months 6 months. However there can be no assurance that the investment objective os the scheme will be realized. The scheme does not gurantee/indicate any returns.

NAV Details (As on March 28, 2025)

Regular Plan - Weekly IDCW Option : ₹ 1003.3188
Regular Plan - Growth Option : ₹ 1513.9390
Regular Plan - Daily IDCW Option : ₹ 1006.7995
Direct Plan - Weekly IDCW Option : ₹ 1003.3054
Direct Plan - Growth Option : ₹ 1532.9224
Direct Plan - Daily IDCW Option : ₹ 1007.6306

Benchmark Index (Tier 1)

CRISIL Ultra Short Duration Debt A-I Index

Date of Allotment

June 01, 2018

Fund Manager
Fund Manager Managing fund since Experience
Mr. Vikram Pamnani 14-Mar-22 14 years
Mr. Gurvinder Singh Wasan 21-Oct-24 21 years


Load Structure

Exit Load: Nil
For detailed load structure please refer Scheme Information Document of the scheme.


Lumpsum details

Minimum Amount: Lumpsum investment:
₹ 5,000 and in multiples of ₹ 1 thereafter.
Minimum Additional Application Amount:
₹ 1,000 and in multiples of ₹ 1 thereafter.

Monthly AAUM## As on March 28, 2025 : ₹ 1,282.91 Crores
AUM## As on March 28, 2025 : ₹ 1,073.05 Crores

## including inter-scheme Investments, if any, by other schemes of Baroda BNP Paribas Mutual Fund, as may be applicable

Fixed Income Holdings Rating % of Net Assets
CERTIFICATE OF DEPOSIT 46.05%
✔ Canara Bank CRISIL A1+ 9.30%
✔ Axis Bank Limited CRISIL A1+ 6.90%
✔ National Bank For Agriculture and RuralDevelopment CRISIL A1+ 5.37%
✔ IndusInd Bank Limited CRISIL A1+ 5.06%
✔ Kotak Mahindra Bank Limited CRISIL A1+ 4.82%
✔ Punjab National Bank CRISIL A1+ 4.43%
✔ HDFC Bank Limited CRISIL A1+ 3.63%
HDFC Bank Limited CARE A1+ 2.48%
Small Industries Dev Bank of India CRISIL A1+ 2.30%
Union Bank of India FITCH A1+ 1.76%
COMMERCIAL PAPER 20.88%
✔ Export Import Bank of India CRISIL A1+ 4.57%
Muthoot Finance Limited CRISIL A1+ 3.19%
Julius Baer Capital India Pvt Ltd CRISIL A1+ 2.65%
Piramal Capital & Housing FinanceLimited CRISIL A1+ 2.32%
Birla Group Holdings Private Limited CRISIL A1+ 2.30%
Motilal Oswal Financial Services Limited CRISIL A1+ 2.29%
Deutsche Investments India Pvt Limited CRISIL A1+ 2.25%
Hero Fincorp Limited CRISIL A1+ 0.87%
Tata Projects Limited CRISIL A1+ 0.44%
CORPORATE BOND 20.24%
✔ National Housing Bank CRISIL AAA 3.26%
Indian Railway Finance CorporationLimited CRISIL AAA 2.80%
Bharti Telecom Limited CRISIL AA+ 2.34%
Export Import Bank of India CRISIL AAA 2.33%
Embassy Office Parks REIT CRISIL AAA 2.31%
Hero Fincorp Limited CRISIL AA+ 2.24%
Godrej Industries Limited CRISIL AA+ 1.41%
Shriram Finance Limited CRISIL AA+ 1.41%
REC Limited CRISIL AAA 0.93%
✔60 One Prime Limited CRISIL AA 0.75%
Power Finance Corporation Limited CRISIL AAA 0.46%
TREASURY BILL 4.56%
✔ 182 Days Tbill (MD 31/07/2025) Sovereig 4.56%
PTC 0.97%
India Universal Trust CRISILAAA(SO) 0.97%
STATE GOVERNMENT BOND 0.47%
7.96% Maharashtra SDL (14/10/2025) Sovereign 0.47%
Corporate Debt Market DevelopmentFund 0.29%
Corporate Debt Market DevelopmentFund 0.29%
Total Fixed Income Holdings 93.46%
TREPS, Cash & Other Net CurrentAssets 6.54%
GRAND TOTAL 100.00%

Investment in Top 10 scrips constitutes 51.90% of the portfolio




For Scheme Performance please click here

The scheme currently does not have Distribution History.

TER - Regular Plan (%) 0.48%
TER - Direct Plan (%) 0.30%

* The information contained in this report has been obtained from sources considered to be authentic and reliable. The quantitative data does not purport to be an offer for purchase and sale of mutual fund units.

Average Maturity (years) 0.54
Modified Duration (years) 0.51
YTM (%) 7.24%
Macaulay Duration† (years) 0.52

†Concept of Macaulay duration: The Macaulay Duration is a measure of a bond’s sensitivity to interest rate changes. It is expressed in annual terms. It is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the cash flow by the price. Factors like a bond’s price, maturity, coupon, yield to maturity among others impact the calculation of Macaulay duration. The Macaulay duration can be viewed as the economic balance point of a group of cash flows. Another way to interpret the statistic is that it is the weighted average number of years an investor must maintain a position in the bond until the present value of the bond’s cash flows equals the amount paid for the bond. As it provides a way to estimate the effect of certain market changes on a bond’s price, the investor can choose an investment that will better meet his future cash needs.

Credit Risk (Max) → Relatively Low Class A (CRV>=12) Moderate: Class B (CRV>=10) Relatively High: Class C (CRV<10)
Interest Rate Risk (Max) ↓
Relatively Low: Class I (MD<=1 year)   
Moderate: Class II (MD<=3 year)  B-II 
Relatively High: Class III (Any MD)   

MD=Macaulay Duration, CRV=Credit Risk Value.
‡ The PRC matrix denotes the maximum risk that the respective Scheme can take i.e. maximum interest rate risk (measured by MD of the Scheme) and maximum credit risk (measured by CRV of the Scheme)

This product is suitable for investors who are seeking*:

➤ Regular income with convenience of liquidity over ultra-short term.
➤ Investments in a basket of debt and money market instruments such that the Macaulay duration† of the portfolio is between 3 months and 6 months.

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Scheme Riskometer^^
Investors understand that their principal will be at Low to Moderate risk.


Benchmark (Tier 1) Riskometer^
Benchmark riskometer is at Low to Moderate risk.


^^Riskometer For Scheme: basis it’s portfolio, ^Riskometer For Benchmark (CRISIL Ultra Short Duration Debt A-I Index): basis it’s constituents; As on March 28, 2025

** Care Mutual Fund ratings are not recommended for the purpose of buying, selling or holding a fund or scheme. These ratings do not comment on the volatility of the Net Asset Value (NAV) of the scheme or the level of NAV compared to the face value during the tenure of the scheme any time before maturity.

†† The rating, as aforesaid, however, should not be treated as a recommendation to buy, sell or hold the units issued by you. The rating is restricted to your debt fund only. ICRA does not assume any responsibility on its part, for any liability, that may arise consequent to your not complying with any guidelines or directives issued by SEBI or any other mutual fund regulatory body.

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