How to Review a Debt Oriented Fund? | Explained with example of ICICI Pru Regular Savings Fund

ICICI Pru Regular Savings Fund is a Conservative Hybrid Fund with around 12-15% allocation to Equity and rest to Debt. Fund has given some good returns in last 2-3 years w.r.t. category average. But what about the risks?
Let's understand how to identify risk in Debt or Hybrid Funds esp. Debt related risks. It will be very useful esp. after Franklin's Debt fund closure.

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