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L&T Ultra Short Term Fund


1 Lakh

Investment Grown to
₹ 1.07 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.24 Lakh

Analyst's Choice?

Suitability:

Ultra Short Duration debt funds invest in bonds maturing in 3 to 6 months' time. They aim to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit. The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.

Retail investors can avoid these funds altogether. Here's why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there's a different category of funds that invests in bonds of up to 3 months maturity, from the one that invests in bonds maturing in 3-6 months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don't need for up to the next one year in a Liquid fund.

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 paid by the mutual fund scheme are taxed at the rate of 25% (effectively 29.12%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT).Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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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 0.88 0.05 0.08 0.50 1.38 3.07 7.26 7.19 7.64 8.12 8.19
CCIL T Bill Liquidity Weight 0.52 -0.03 0.04 0.28 0.83 1.77 4.03 4.10 4.46 4.76 4.71
Debt: Ultra Short Duration 0.76 0.05 0.09 0.52 1.31 2.98 6.51 6.19 6.98 7.85 7.96
Rank within category 14 23 24 16 13 13 12 7 7 6 4
Number of funds in category 28 29 29 28 27 26 24 17 17 15 13

As on 24-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.60 (29-Mar-2016 - 05-Apr-2016) -0.49 (29-Mar-2007 - 05-Apr-2007)
Month 1.32 (30-Aug-2013 - 01-Oct-2013) -0.08 (19-Oct-2003 - 18-Nov-2003)
Quarter 3.08 (24-Jul-2013 - 23-Oct-2013) 0.71 (10-Feb-2005 - 12-May-2005)
Year 10.29 (26-Jul-2013 - 28-Jul-2014) 3.65 (06-May-2004 - 06-May-2005)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.95 0.54 2.36 5.39 1.45 3.60
CCIL T Bill Liquidity Weight 4.06 0.27 -6.06 -10.48 -- --
Debt: Ultra Short Duration 6.14 1.64 1.35 3.07 1.48 2.85
Rank within category 9 8 8 4 12 7
Number of funds in category 19 19 19 19 19 19

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

As on 31-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 34 54 34 40
Modified Duration (yrs) 0.44 0.47 0.34 0.36
Average Maturity (yrs) 0.46 0.49 0.36 0.43
Yield to Maturity (%) 5.85 7.60 5.35 6.22

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal Bank of Baroda 2020 Certificate of Deposit A1+ 0.00 - 8.96 8.29
up ICICI Bank 18/12/2020 Certificate of Deposit A1+ 0.00 - 8.02 8.02
equal Reliance Industries 179-D 29/05/2020 Commercial Paper A1+ 0.00 - 5.97 5.52
up Kotak Mahindra Bank 26/06/2020 Certificate of Deposit A1+ 0.00 - 5.50 5.50
up Indian Bank 2020 Certificate of Deposit A1+ 0.00 - 4.60 4.60
equal 7.40% HDFC 17/11/2020 Non Convertible Debenture AAA 0.00 - 4.10 3.77
equal Export-Import Bank 180-D 27/05/2020 Commercial Paper A1+ 0.00 - 3.99 3.68
down Export-Import Bank 24/06/2020 Certificate of Deposit A1+ 0.00 - 4.96 3.67
new National Bank Agr. Rur. Devp 151-D 22/06/2020 Commercial Paper A1+ 0.00 - 3.67 3.67
equal HDFC 364-D 09/09/2020 Commercial Paper A1+ 0.00 - 3.90 3.62
equal Axis Bank 17/11/2020 Certificate of Deposit A1+ 0.00 - 3.87 3.58
equal 8.02% National Housing Bank 31/01/2022 Debenture AAA 0.00 - 3.68 3.38
new Reliance Retail Ltd. 28/03/2020 Securitised Debt AAA 0.00 - 3.36 3.36
up SIDBI 15/05/2020 Securitised Debt A1+ 0.00 - 2.77 2.77
up Indian Bank 27/05/2020 Certificate of Deposit A1+ 0.00 - 2.76 2.76
down Axis Bank 23/06/2020 Certificate of Deposit A1+ 0.00 - 3.97 2.75
new JSW Steel 155-D 10/06/2020 Commercial Paper A1+ 0.00 - 2.19 2.19
equal 9.02% LIC Housing Fin. 2020 Debenture AAA 0.00 - 2.08 1.91
equal 8.14% LIC Housing Fin. 2020 Debenture AAA 0.00 - 2.06 1.89
new HDFC 120-D 15/05/2020 Commercial Paper A1+ 0.00 - 1.84 1.84
equal LIC Housing Fin. 344-D 28/05/2020 Commercial Paper A1+ 0.00 - 1.99 1.84
new SBI Cards & Payments Services 361-D 29/06/2020 Commercial Paper A1+ 0.00 - 1.83 1.83
new First Business Receivable Trust Securitised Debt AAA 0.00 - 0.38 1.82
equal Kotak Mahindra Prime 264-D 20/07/2020 Commercial Paper A1+ 0.00 - 1.97 1.82
down ICICI Bank 14/09/2020 Certificate of Deposit A1+ 0.00 - 2.94 1.81

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 31-Jan-2020

Fund Manager

— Jalpan Shah since 30-Jun-2014

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

Experience: Prior to joining L&T, 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.

Funds Managed:

— Vikas Garg since 03-Apr-2017

Education: Mr. Garg is CFA MBA Finance, B-Tech and M- Tech

Experience: Prior to joining L&T Mutual Fund he has worked with Fidelity International as Credit analyst and Research Associate- Credit, ICRA as Sr Analyst and Indian Oil Corporation Ltd as Project manager

Funds Managed:


0.05%

Change from previous, NAV as on 24-Feb-2020

Growth: ₹ 32.4570

Dividend Weekly: ₹ 11.1413

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Dividend Monthly: ₹ 12.8841

Dividend Daily: ₹ 10.2784

Bonus: ₹ 17.7038


Investment Strategy

The scheme seeks to provide regular and stable return and invests only in corporate bonds and government securities predominantly with a rating of AA or above.

Investment Details

Minimum Investment (₹) 10,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 6
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 500
Exit Load 0

Basic Details

Fund House: L&T Mutual Fund
Launch Date: 10-Apr-2003
Return Since Launch: 7.45%
Benchmark: NIFTY Ultra Short Duration Debt
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 2,666 Cr (As on 31-Jan-2020)
Expense: 0.56% (As on 31-Jan-2020)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily20-Feb-20200.0010

 18-Feb-20200.0010
 17-Feb-20200.0029
 14-Feb-20200.0011
 13-Feb-20200.0015
 12-Feb-20200.0013
 11-Feb-20200.0018
 10-Feb-20200.0041
 07-Feb-20200.0017
 06-Feb-20200.0034
 05-Feb-20200.0013
 04-Feb-20200.0014
 03-Feb-20200.0035
 31-Jan-20200.0009
 30-Jan-20200.0011
 29-Jan-20200.0009
 28-Jan-20200.0011
 27-Jan-20200.0032
 24-Jan-20200.0014
 23-Jan-20200.0016
 22-Jan-20200.0010
 21-Jan-20200.0013
 20-Jan-20200.0030
 17-Jan-20200.0011
 16-Jan-20200.0011
Dividend Weekly17-Feb-20200.0075

 10-Feb-20200.0113
 03-Feb-20200.0069
 27-Jan-20200.0078
 20-Jan-20200.0066
 13-Jan-20200.0073
 06-Jan-20200.0101
 30-Dec-20190.0068
 23-Dec-20190.0048
 16-Dec-20190.0066
 09-Dec-20190.0029
 02-Dec-20190.0085
 25-Nov-20190.0081
 18-Nov-20190.0095
 11-Nov-20190.0047
 04-Nov-20190.0079
 29-Oct-20190.0083
 22-Oct-20190.0101
 14-Oct-20190.0101
 07-Oct-20190.0113
 30-Sep-20190.0133
 23-Sep-20190.0014
 16-Sep-20190.0092
 09-Sep-20190.0067
 03-Sep-20190.0107
Dividend Monthly27-Jan-20200.0576

 26-Dec-20190.0576
 25-Nov-20190.0576
 25-Oct-20190.0576
 25-Sep-20190.0576
 26-Aug-20190.0576
 25-Jul-20190.0504
 25-Jun-20190.0504
 27-May-20190.0504
 25-Apr-20190.0504
 25-Mar-20190.0504
 25-Feb-20190.0504
 25-Jan-20190.0504
 26-Dec-20180.0504
 26-Nov-20180.0504
 25-Oct-20180.0504
 25-Sep-20180.0504
 27-Aug-20180.0504
 25-Jul-20180.0504
 25-Jun-20180.0504
 25-May-20180.0504
 25-Apr-20180.0504
 26-Mar-20180.0433
 26-Feb-20180.0433
 25-Jan-20180.0433
Dividend Half Yearly23-Sep-20091.8833

 27-Mar-20090.1752
 25-Sep-20070.4380
 27-Sep-20040.0884
 25-Mar-20040.2000
 25-Sep-20030.3500
 28-Apr-20030.6500

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: 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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