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Liquid Fund SEBI Risk: Low AMC: SBI Mutual Fund

SBI Liquid Fund - Direct Plan - Growth

Benchmark: CRISIL Liquid Debt Index • Manager: Ardhendu Bhattacharya • Portfolio Date: 2026-09-30
Composite Health Score
90.7/100
INSTITUTIONAL_ALPHA
⚠️ Fiduciary Surveillance Alerts Triggered (1)
  • Speculative Churn Alert: Portfolio Turnover of 320.0% indicates high transaction drag and brokerage leakage.
🔒 Deep Dive

Look-Through Forensics & Audit Narrative

The free report already shows fees, active share, holdings and the headline health score. The Deep Dive opens up what sits underneath the portfolio.

  • Weighted moat score and the top compounder holdings
  • Look-through accounting risk (ASRI) and promoter pledge exposure, with the flagged holdings named
  • Weighted margin of safety: is the portfolio at a DCF discount or premium
  • The written 7-pillar audit narrative, and the Forensic Desk can answer questions on all of it
One-time, permanent for this scheme

01: Dual-Sleeve Constituent Decomposition

Equity holdings evaluated via Forensic Equity Engine; Debt/bonds evaluated via Credit & Solvency Engine.
Equity: 0.0% (Score: 72.0) Debt: 62.0% (Score: 85.1) Cash / TREPS: 38.0%
Identifier Security Name Type Weight Sector / Rating Engine Score Diagnostic Notes
IN0020230085 ↗ 91-Day Central Government Sovereign T-Bills DEBT 42.0% SOVEREIGN 92.0 Rating: SOVEREIGN
TREPS Tri-Party Repo (TREPS) & Call Reserves CASH_EQUIVALENT 38.0% CASH 100.0 Liquid Cash / Sovereign Collateral
INE040A08377 ↗ HDFC Bank 90-Day Certificate of Deposit DEBT 20.0% CRISIL A1+ 70.5 CRISIL AAA | YTM: 7.98%

02: True Diversification & Active Share

Exposing Closet Indexing: Active Share AS = 0.5 × ∑|w_fund - w_bench|
Active Share Score
20.0%
CLOSET_INDEX_FUND

CRITICAL ALERT: Closet Index Fund! Paying high active management fees for an index mimic.

Top 10 Holdings Concentration: 100.0%

03 & 04: Risk-Adjusted Alpha & Downside Capture

Evaluating asymmetrical compounding: Downside Capture Ratio vs Upside Capture Ratio.
Sortino Ratio
4.1
Downside Risk Only
Downside Capture
1.0%
Benchmark: ≤ 75%
Capture Spread
+29.0%
UCR (30.0%) - DCR
Hurst Exponent (H)
0.5
Persistent Momentum
3-Year Rolling Return Consistency: 99.5% of windows

05: Intermediary Fee Drag & Wealth Destruction

Direct Plan vs Regular Plan: Compounded wealth transfer to distributor commissions over time.
Annual Distributor Commission Drag
10.0 bps / yr (0.28% - 0.18%)
Time Horizon Direct Plan Value (Net) Regular Plan Value (Net) Cumulative Wealth Lost Percentage Corpus Destroyed
5 Years ₹1,748,225 ₹1,740,422 -₹7,803 0.4%
10 Years ₹3,056,292 ₹3,029,070 -₹27,223 0.9%
15 Years ₹5,343,088 ₹5,271,860 -₹71,227 1.3%
20 Years ₹9,340,922 ₹9,175,263 -₹165,659 1.8%

💡 Fiduciary Takeaway: A ₹10.0 Lakh investment loses ₹27,223 over 10 years purely to distributor commissions in the Regular plan.

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