DSP Ultra Short Fund
Plan type

	CAGR since inception

Scheme Type:

Scheme Risk:
Low to Moderate Risk
Age:
18 years 10 months since Jul 31, 2006
AUM:
Rs. 4,010.78 crores as of May 31, 2025
Horizon:
7 Days+
Benchmark:
CRISIL Ultra Short Duration Debt …
Potential Risk Class Matrix
Benchmark Risk:
Low to Moderate Risk
Goal:
Income Generation

Scheme features

Performance

Cumulative returns

Returns from of Rs. invested

Show:

Annualized Returns

Absolute Returns

This scheme		CRISIL Ultr…	CRISIL 1 Ye…	Gold	PPF
NA	vs	NA	NA	NA	NA
NA	vs	NA	NA	NA	NA

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Returns calculator

	This scheme	CRISIL Ultr… ^#	CRISIL 1 Ye… ^#	Gold	PPF
# Returns do not reflect any income distribution cum capital withdrawal (IDCW) distribution

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Returns summary

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Rolling returns

	1 Year	3 Years	5 Years	10 Years
# Rolling returns have been calculated based on returns from regular plan growth option.

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Fund Managers

Karan Mundhra

Total work experience of 17 years. Managing this fund since May 2021. See all funds managed by Karan Mundhra »
Shalini Vasanta

Total work experience of 13 years. Managing this fund since August 2024. See all funds managed by Shalini Vasanta »

Investment Objective

The primary investment objective of the Scheme is to seek to generate returns commensurate with risk from a portfolio constituted of money market securities and/or debt securities.
There is no assurance that the investment objective of the ...more

Scheme Description

Investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months

Scheme Documents

KIM & Application

Historical Returns

In SEBI format

Comparative performance of DSP Ultra Short Fund as of
	DSP Ultra Short Fun…	CRISIL Ultr… ^{^}	CRISIL 1 Ye… ^#
Date of allotment: Jul 31, 2006. Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement Different plans shall have a different expense structure. The performance details provided herein are of Regular Plan. Since inception returns have been calculated from the date of allotment till June 28, 2013 See all funds managed by Karan Mundhra » See all funds managed by Shalini Vasanta » Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments ^ Fund Benchmark # Additional Benchmark

Scheme disclaimers »

Portfolio as of May 31, 2025

Equity

Market capitalization

No data to display

Sector allocation

No data to display

Top 5 stocks by holding
Name	% of Net Assets
ROADSTAR INFRA INVESTMENT TRUST	0.13%
See detailed equity holdings »

Debt & debt instruments

Credit rating profile

No data to display

Instrument break-up

No data to display

Top 5 instruments by holding
Name	% of Net Assets
AXIS BANK LIMITED	3.07%
ICICI BANK LIMITED	3.03%
BHARTI TELECOM LIMITED	2.67%
BANK OF BARODA	2.45%
364 DAYS T-BILL 2025	2.43%
See detailed debt holdings »

Prescribed Asset Allocation

0% - 100% *Debt and Money Market Securi…

*Debt securities may include securitised debts up to 50% of the net assets. The Scheme will invest in Debt and Money Market instruments such that the Macaulay duration of the portfolio is between 3 months - 6 months.

Current Asset Allocation as of May 31, 2025

Debt Instruments see breakup 101.11% (101.11}%)

Money market instruments 70.88% (70.88}%)
Bonds & NCDs 21.35% (21.35}%)
Government Securities (Central/State) 5.58% (5.58}%)
TREPS 2.41% (2.41}%)
Securitized Debt Instruments 0.69% (0.69}%)
Sbi Funds Management Pvt Ltd/fund Parent 0.2% (0.2}%)

Equity & equity related securities 0.13% (0.13}%)
Cash & cash equivalents -1.24% (-1.24}%)

Indicators

Yield to Maturity
6.55 %
Modified Duration
0.46 Years
Portfolio Macaulay Duration
0.49 Years
Average Maturity
0.51 Years

Karan Mundhra

Karan has a total work experience of over 9 years. He joined DSP Mutual Funds in April 2012 as part of Fund Administration team. In 2016, he joined the Fixed Income Investment team. He is a Chartered Accountant (ICAI India) and also holds a Bachelor of Commerce Degree.

All Funds managed by Karan Mundhra
Sr. No.	Scheme Name	Managing since	Period
Sr. No.	Scheme Name	Managing since	1 Year		3 Years		5 Years
Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Shalini Vasanta

Shalini has a total work experience of Over 11 years. She is part of the fixed income team at DSP Asset Manager's since 2017. Shalini has also worked with ICRA Ltd. as a Credit Rating Analyst in their Large Corporate Group. She holds a Master of Business Administration (Finance) degree from NMIMS, Mumbai and BA with Hons in Economics & Statistics from St. Xavier's College, Mumbai.

All Funds managed by Shalini Vasanta
Sr. No.	Scheme Name	Managing since	Period
Sr. No.	Scheme Name	Managing since	1 Year		3 Years		5 Years
Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Equity holdings for DSP Ultra Short Fund

Transport Infrastructure
0.13%

Name	% of Net Assets
ROADSTAR INFRA INVESTMENT TRUST	0.13%

100% of Equity and equity related securities

Debt holdings for DSP Ultra Short Fund

Money market instruments70.88%

Name	Rating	% of Net Assets
AXIS BANK LIMITED	A1+	3.07%
ICICI BANK LIMITED	A1+	3.03%
BHARTI TELECOM LIMITED	A1+	2.67%
BANK OF BARODA	A1+	2.45%
364 DAYS T-BILL 2025	SOVEREIGN	2.43%
AXIS BANK LIMITED	A1+	2.42%
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	A1+	2.42%
CANARA BANK	A1+	1.84%
LIC HOUSING FINANCE LIMITED	A1+	1.83%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	A1+	1.81%
PUNJAB NATIONAL BANK	A1+	1.81%
HDFC BANK LIMITED	A1+	1.81%
UNION BANK OF INDIA	A1+	1.81%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	A1+	1.79%
182 DAYS T-BILL 2025	SOVEREIGN	1.61%
AXIS BANK LIMITED	A1+	1.23%
AXIS BANK LIMITED	A1+	1.23%
CANARA BANK	A1+	1.23%
HDFC BANK LIMITED	A1+	1.22%
HDFC BANK LIMITED	A1+	1.22%
AU SMALL FINANCE BANK LIMITED	A1+	1.22%
IDFC FIRST BANK LIMITED	A1+	1.21%
HDFC BANK LIMITED	A1+	1.21%
IDFC FIRST BANK LIMITED	A1+	1.21%
HERO FINCORP LIMITED	A1+	1.21%
UNION BANK OF INDIA	A1+	1.21%
EXPORT-IMPORT BANK OF INDIA	A1+	1.21%
INDUSIND BANK LIMITED	A1+	1.2%
AU SMALL FINANCE BANK LIMITED	A1+	1.2%
CANARA BANK	A1+	1.2%
EXPORT-IMPORT BANK OF INDIA	A1+	1.2%
CANARA BANK	A1+	1.2%
PIRAMAL CAPITAL & HOUSING FINANCE LIMITED	A1+	1.2%
364 DAYS T-BILL 2026	SOVEREIGN	1.19%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	A1+	1.18%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT	A1+	0.62%
182 DAYS T-BILL 2025	SOVEREIGN	0.62%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	A1+	0.62%
AU SMALL FINANCE BANK LIMITED	A1+	0.61%
AXIS BANK LIMITED	A1+	0.61%
AXIS BANK LIMITED	A1+	0.61%
BANK OF BARODA	A1+	0.61%
AXIS BANK LIMITED	A1+	0.61%
NUVAMA WEALTH AND INVESTMENT LIMITED	A1+	0.61%
HDFC BANK LIMITED	A1+	0.61%
PUNJAB NATIONAL BANK	A1+	0.6%
CANARA BANK	A1+	0.6%
HDFC BANK LIMITED	A1+	0.6%
KOTAK MAHINDRA BANK LIMITED	A1+	0.6%
HDFC BANK LIMITED	A1+	0.6%
CANARA BANK	A1+	0.6%
KOTAK MAHINDRA BANK LIMITED	A1+	0.6%
NUVAMA WEALTH AND INVESTMENT LIMITED	A1+	0.6%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	A1+	0.59%
CANARA BANK	A1+	0.59%
BAHADUR CHAND INVESTMENTS PRIVATE LIMITED	A1+	0.59%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	A1+	0.59%
364 DAYS T-BILL 2025	SOVEREIGN	0.49%
364 DAYS T-BILL 2025	SOVEREIGN	0.12%

70.1% of Debt instruments

Bonds & NCDs21.35%

Name	Rating	% of Net Assets
BHARTI TELECOM LIMITED	AA+	1.96%
SIKKA PORTS & TERMINALS LIMITED	AAA	1.88%
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	AA+	1.56%
TATA CAPITAL HOUSING FINANCE LIMITED	AAA	1.31%
MAHINDRA RURAL HOUSING FINANCE LIMITED	AAA	1.3%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT	AAA	1.3%
BAJAJ HOUSING FINANCE LIMITED	AAA	1.26%
TATA CAPITAL HOUSING FINANCE LIMITED	AAA	1.25%
BAJAJ FINANCE LIMITED	AAA	0.76%
LIC HOUSING FINANCE LIMITED	AAA	0.67%
ADITYA BIRLA RENEWABLES LIMITED	AA	0.67%
EXPORT-IMPORT BANK OF INDIA	AAA	0.67%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT	AAA	0.66%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT	AAA	0.66%
EXPORT-IMPORT BANK OF INDIA	AAA	0.65%
BHARTI TELECOM LIMITED	AA+	0.65%
MUTHOOT FINANCE LIMITED	AA+	0.65%
MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED	AAA	0.64%
BAJAJ FINANCE LIMITED	AAA	0.63%
POWER FINANCE CORPORATION LIMITED	AAA	0.63%
SUNDARAM FINANCE LIMITED	AAA	0.53%
TATA CAPITAL LIMITED	AAA	0.53%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	AAA	0.27%
SUNDARAM FINANCE LIMITED	AAA	0.26%

21.1% of Debt instruments

Government Securities (Central/State)5.58%

Name	Rating	% of Net Assets
5.15% GOI 2025	SOVEREIGN	2.37%
8.42% JHARKHAND SDL 2026	SOVEREIGN	1.04%
8.25% MADHYA PRADESH SDL 2025	SOVEREIGN	0.89%
7.99% KARNATAKA SDL 2025	SOVEREIGN	0.63%
7.71% GUJARAT SDL 2027	SOVEREIGN	0.26%
8.31% TELANGANA SDL 2026	SOVEREIGN	0.26%
8.39 % MADHYA PRADESH SDL 2026	SOVEREIGN	0.13%

5.5% of Debt instruments

TREPS2.41%

Name	Rating	% of Net Assets
TREPS / REVERSE REPO INVESTMENTS	--	2.41%

2.4% of Debt instruments

Securitized Debt Instruments0.69%

Name	Rating	% of Net Assets
INDIA UNIVERSAL TRUST	AAA(SO)	0.69%

0.7% of Debt instruments

Mutual-funds0.2%

Name	Rating	% of Net Assets
SBI FUNDS MANAGEMENT PVT LTD/FUND PARENT	Mutual Funds	0.2%

0.2% of Debt instruments

Interest Rate Swaps

Disclosure in Derivatives	Industry	Notional Value	% of Net Assets
INTEREST RATE SWAPS PAY FIXED AND RECEIVE FLOATING	Others	750,000,000	0.00%
INTEREST RATE SWAPS PAY FIXED AND RECEIVE FLOATING	Others	250,000,000	0.00%
INTEREST RATE SWAPS PAY FIXED AND RECEIVE FLOATING	Others	500,000,000	0.00%

For lumpsum investments, if the investment period is less than 1 year then same return values are displayed for absolute & XIRR. For periods above 1 year, they are annualized. 1 Year is assumed as 365 days.
Returns for investments in income distribution cum capital withdrawal (IDCW) plans of schemes are calculated after assuming that the net income distribution cum capital withdrawal (IDCW) payouts post statutory taxes & levies, are re-invested back in the scheme.
Income distribution cum capital withdrawals (IDCW) declared from benchmark's constituents isn't taken into account when comparing with investment in fund's income distribution cum capital withdrawal (IDCW) plans.
Performance is always compared against the latest benchmark of the fund irrespective of the date of change of fund's benchmark, if any.
Except when SIP tenure is since inception, for all tenures, the start day for SIP investments is considered as 1st of every month. There is no end date to SIPs for the purpose of graphs.
For the purpose of NAV date applicability, if the investment date happens to be a non-business day, next business day's NAV is applied. Investment on inception date can happen on a non-business day.
Gold prices are available post 29 JAN, 2005 & are based on daily closing values on MCX.
Investment in gold has a strong global market demand and gold is highly liquid asset.
PPF interest rate is assumed at 8.7% p.a. & interest received is compounded daily for the returns illustration in the charts.
The comparison with PPF (and other traditional saving instruments/assets) has been given for the purpose of the general information only. Investments in mutual funds should not be construed as a promise, guarantee on or a forecast of any minimum returns. Unlike traditional saving instruments there is no capital protection guarantee or assurance of any return in mutual fund investment. Traditional savings instruments are comparatively low risk products and are generally backed by the Government. Investment in mutual funds carries high risk as compared to the traditional saving instruments and any investment decision needs to be taken only after consulting the Tax Consultant or Mutual Fund Distributor.
Past performance may or may not sustain in future and should not be used as a basis for comparison with other investments. There is no assurance of any returns/capital protection/capital guarantee to the investors in any scheme of DSP Mutual Fund.
Pursuant to payments of Income Distribution cum Capital Withdrawal, the NAV of the IDCW option(s) of Schemes would fall to the extent of payout, and statutory levy, if any.
The sector(s)/stock(s)/issuer(s) mentioned in this document do not constitute any recommendation of the same and the Fund may or may not have any future position in these sector(s)/stock(s)/issuer(s).
The investment approach / framework/ strategy / portfolio / other data mentioned herein are dated and currently followed by the scheme and the same may change in future depending on market conditions and other factors.
The SIP returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash infows and outflows with the correct allowance for the time impact of the transactions. Load is not taken into consideration for computation of performance.

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Performance

Historical Returns

Portfolio as of May 31, 2025

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DSP Equity Savings Fund presentation

Karan Mundhra

Shalini Vasanta

Equity holdings for DSP Ultra Short Fund

Transport Infrastructure 0.13%

Debt holdings for DSP Ultra Short Fund

Money market instruments70.88%

Bonds & NCDs21.35%

Government Securities (Central/State)5.58%

TREPS2.41%

Securitized Debt Instruments0.69%

Mutual-funds0.2%

Interest Rate Swaps

DSP Ultra Short Fund presentation

Transport Infrastructure
0.13%