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Unrated

L&T Credit Risk Fund - Retail Plan


1 Lakh

Investment Grown to
₹ 1.06 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.23 Lakh

Suitability:

Credit risk funds invest mainly in bonds which are rated AA or below by credit rating agencies. The lower rating indicates a higher possibility of these bonds defaulting on repayment of investors' money. Therefore, these funds are the riskiest among debt fund categories. But they compensate for this additional risk with a higher return potential as these bonds offer better rates of interest than the highest rated bonds.

However, retail investors can avoid these funds altogether. There are far too many kinds of debt funds with a highly nuanced classification based on the type or duration of bonds they can invest in. We believe that so many fund categories add to complexity which is easily avoidable. Retail investors can simply invest in Liquid funds for an investment horizon of up to one year and Short Duration funds for the fixed income allocation (which should be 100 per cent for an investment horizon of up to three years) in their longer-term portfolios.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 3 years from the date of investment, gains are taxed at the rate of 20% after providing the benefit of inflation indexation.
  • If the mutual fund units are sold within 3 years from the date of investment, entire amount of gain is added to the investors' income and taxed according to the applicable slab rate.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends are added to the income of the investors and taxed according to their respective tax slabs. Further, if an investor's dividend income exceeds Rs. 5,000 in a financial year, the fund house also deducts a TDS of 10% before distributing the dividend.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 2.39 0.05 0.06 0.67 1.19 2.80 6.07 4.05 5.26 6.65 7.13
CCIL T Bill Liquidity Weight 1.18 -0.01 0.05 0.20 0.55 1.09 2.12 3.48 3.73 4.16 4.59
Debt: Credit Risk 4.27 0.01 0.08 0.96 1.92 4.11 8.12 1.64 3.48 6.31 7.64

As on 03-Aug-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
L&T Credit Risk Fund - Retail Plan  | Invest Online
Unrated
Oct-09 6.07 4.05 5.26 1.64 202
HDFC Credit Risk Debt Fund - Regular Plan  | Invest Online
5 star
Mar-14 9.53 8.99 8.09 1.61 7,784
ICICI Prudential Credit Risk Fund  | Invest Now
5 star
Dec-10 7.82 8.66 8.16 1.56 7,626
SBI Credit Risk Fund  | Invest Online
4 star
Jul-04 7.12 7.40 7.27 1.54 3,473
Kotak Credit Risk Fund Regular Plan  | Invest Online
4 star
May-10 6.58 7.16 7.17 1.72 1,785

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 3.12 03-Jul-2020 - 10-Jul-2020 -3.13 23-Apr-2020 - 30-Apr-2020
Month 4.12 12-Jun-2020 - 13-Jul-2020 -4.44 31-Mar-2020 - 30-Apr-2020
Quarter 5.22 05-Jun-2020 - 04-Sep-2020 -4.95 09-Mar-2020 - 08-Jun-2020
Year 12.60 19-Aug-2013 - 19-Aug-2014 -3.41 03-Jun-2019 - 02-Jun-2020

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 3.44 0.39 -1.76 -4.38 -- --
Debt: Credit Risk* 1.97 6.75 0.35 0.48 -3.97 -4.88

The Risk Measures have been calculated using calendar month returns for the last three years.

As on

* As on 31-Jul-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 18 18 12 29
Modified Duration (yrs) 1.72 2.51 1.61 1.77
Average Maturity (yrs) 2.25 3.18 1.93 2.18
Yield to Maturity (%) 5.86 9.35 5.86 6.13
Avg Credit Rating AAA -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
new Reserve Bank of India 182-D 30/12/2021 Treasury Bills SOV 0.00 - 11.88 11.88
equal 9.90% Coastal Gujarat Power 27/08/2028 Debenture AA 5.40 - 8.35 8.35
equal 8.93% IIFL Home Finance 14/04/2023 Debenture AA 4.90 - 7.73 7.73
equal 9.60% Hindalco Inds. 2022 Bonds/NCDs AA 0.00 - 5.63 5.63
equal 11.10% Hinduja Leyland Finance 2022 Additional Tier 2 Bond AA- 4.17 - 5.66 5.60
equal 7.45% REC 30/11/2022 Non Convertible Debenture AAA 0.00 - 5.35 5.35
equal 6.59% Indian Railway Finance Corporation 14/04/2023 Debenture AAA 0.00 - 5.34 5.34
equal 9.75% Manappuram Finance 31/12/2021 Debenture AA 0.00 - 5.30 5.30
equal 8.50% Bank of Baroda Additional Tier 1 Bond AA 0.00 - 5.27 5.27
equal 7.50% Tata Motors 20/10/2021 Debenture AA- 0.00 - 5.27 5.27
equal 8.35% Tata Projects 17/12/2021 Zero Coupon Bonds AA 0.00 - 5.25 5.25
equal 5.47% Power Finance Corporation 19/08/2023 Debenture AAA 0.00 - 5.23 5.23
equal 6.50% National Bank Agr. Rur. Devp 17/04/2023 Debenture AAA 0.00 - 8.63 5.16
equal 6.92% Godrej Industries 14/05/2025 Debenture AA 0.00 - 5.00 5.00
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.00 - 4.47 4.47
equal 8.28% Oriental Nagpur Betul Highway 30/09/2024 Debenture AAA 3.08 - 4.44 4.44
down 6.79% GOI 15/05/2027 GOI Securities SOV 0.00 - 10.44 1.03
equal 10.75% Dewan Housing Finance Corporation Perpetual Bond D 0.00 - 0.00 0.00

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 30-Jun-2021

Fund Manager

— Jalpan Shah since 21-Mar-2020

Education: Mr. Shah is a B.E. (Mechanical) and holds a PGDM.

Experience: Prior to joining L&T Mutual Fund, he was associated with FIL Fund Management Private Limited (Dec 2007-Nov 2012), Lotus India Asset Management Company Private Limited (Sep 2007-Nov 2007) as a Research Analyst, UTI Asset Management Company Private Limited (July 2006-Aug 2007) as a Research Analyst and UTI Asset Management Company Private Limited(May 2004-June 2006) as a Sales & Marketing Manager.

Interviews:

Funds Managed:

— Shriram Ramanathan since 24-Nov-2012

Education: Shriram is a B.E. (Electrical), PGDBM from XLRI Jamshedpur and CFA.

Experience: Prior to joining L&T Mutual Fund he has worked with FIL Fund Management Pvt. Ltd., ING Investment Management, Zurich Asset Management Co., ICICI Ltd., and L&T Ltd.

Funds Managed:


0.05%

Change from previous, NAV as on 03-Aug-2021

Bonus: ₹ 22.3477


Investment Strategy

The scheme seeks to generate regular returns and capital appreciation by investing predominantly in AA and below rated corporate bonds, debt, government securities and money market instruments.

Investment Details

Minimum Investment (₹) 10,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) --
Minimum No of Cheques --
Minimum Withdrawal (₹) 1,00,000
Minimum Balance (₹) --
Lock-in Period Not Applicable
Exit Load For units in excess of 10% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: L&T Mutual Fund
Launch Date: 08-Oct-2009
Return Since Launch: 7.04%
Benchmark: CRISIL Composite Credit Risk
Riskometer: Moderately High
Type: Open-ended
Assets: ₹ 202 Cr (As on 30-Jun-2021)
Expense: 1.64% (As on 28-Feb-2017)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Monthly25-Oct-20160.0506

 26-Sep-20160.0433
 25-Aug-20160.0433
 25-Jul-20160.0433
 27-Jun-20160.0506
 25-May-20160.0361
 25-Apr-20160.0361
 28-Mar-20160.0361
 25-Feb-20160.0361
 25-Jan-20160.0361
 28-Dec-20150.0506
 26-Nov-20150.0506
 26-Oct-20150.0650
 28-Sep-20150.0433
 25-Aug-20150.0433
 27-Jul-20150.0578
 25-Jun-20150.0506
 25-May-20150.0289
 27-Apr-20150.0650
 25-Mar-20150.0436
 25-Feb-20150.0363
 27-Jan-20150.0653
 26-Dec-20140.0436
 25-Nov-20140.0798
 27-Oct-20140.0726
IDCW Quarterly28-Sep-20160.1806

 29-Jun-20160.1445
 23-Mar-20160.1589
 30-Dec-20150.1589
 29-Sep-20150.1589
 29-Jun-20150.1589
 26-Mar-20150.1669
 29-Dec-20140.1524
 24-Sep-20140.1636
 24-Jun-20140.2416
 24-Mar-20140.1559
 24-Dec-20130.1870
 25-Sep-20130.0623
 26-Jun-20130.1247
 25-Mar-20130.1409
 26-Dec-20120.1409
 27-Sep-20120.1409
 27-Jun-20120.1762
 27-Mar-20120.1762
 27-Dec-20110.1762
 27-Sep-20110.1321
 28-Jun-20110.1321
 28-Mar-20110.1318
 27-Dec-20100.0878
 27-Sep-20100.0878

Contact Information

AMC: L&T Investment Management Ltd

Address: Brindavan Plot No. 177, CST Road Kalina, Santacruz (East) Mumbai - 400098

Phone: 022-66554000 / 1800-2000-400

Fax: 022-66554002

Email: [email protected]

Website: http://www.lntmf.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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