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4 star

L&T Ultra Short Term Fund


1 Lakh

Investment Grown to
₹ 1.03 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.22 Lakh

Suitability:

Ultra Short Duration debt funds invest in bonds maturing in three to six months. 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 over the said timeframe is low but they do not guarantee returns or safety of capital.

Such funds are usually more suited to institutional investors. 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 three months maturity, from the one that invests in bonds maturing in three to six 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 a year in a Liquid fund.

If you do decide to invest in them, remember that these funds usually deliver low returns which are only marginally higher than your bank account. They are not suitable if your aim is to build wealth in the long run.

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 2.45 0.00 0.03 0.24 0.89 1.73 3.47 5.98 6.33 6.99 7.74
CCIL T Bill Liquidity Weight 1.54 0.03 0.04 0.20 0.62 1.10 2.20 3.43 3.66 4.10 4.54
Debt: Ultra Short Duration 2.59 -0.01 0.07 0.30 0.99 1.90 3.67 5.51 5.70 6.44 7.52
Rank within category 11 9 9 12 12 14 15 7 6 6 3
Number of funds in category 27 28 28 28 28 27 26 19 14 14 12

As on 24-Sep-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
L&T Ultra Short Term Fund  | Invest Online
4 star
Apr-03 3.47 5.98 6.33 0.39 2,461
Aditya Birla Sun Life Savings Fund  | Invest Online
5 star
Nov-01 4.42 6.99 7.07 0.48 18,973
HDFC Ultra Short Term Fund - Regular Plan  | Invest Online
4 star
Sep-18 3.94 -- -- 0.64 17,843
Kotak Savings Fund Regular Plan  | Invest Online
4 star
Aug-04 3.50 6.13 6.41 0.77 14,237
SBI Magnum Ultra Short Duration Fund  | Invest Online
4 star
May-99 3.63 6.25 6.53 0.49 12,277

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 1.43 24-Mar-2020 - 31-Mar-2020 -0.89 17-Mar-2020 - 24-Mar-2020
Month 2.08 24-Mar-2020 - 23-Apr-2020 -0.55 25-Feb-2020 - 26-Mar-2020
Quarter 3.45 24-Mar-2020 - 24-Jun-2020 0.23 24-Dec-2019 - 24-Mar-2020
Year 10.29 26-Jul-2013 - 28-Jul-2014 3.38 13-Jul-2020 - 13-Jul-2021

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.87 0.73 2.51 5.80 1.50 2.83
CCIL T Bill Liquidity Weight 3.37 0.39 -1.71 -4.34 -- --
Debt: Ultra Short Duration 5.24 1.61 1.63 3.53 1.15 1.96
Rank within category 7 6 7 6 15 7
Number of funds in category 18 18 18 18 18 18

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

As on 31-Aug-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 23 35 23 43
Modified Duration (yrs) 0.32 0.47 0.32 0.39
Average Maturity (yrs) 0.33 0.48 0.33 0.41
Yield to Maturity (%) 3.41 3.72 3.29 4.00
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
equal 8.20% GOI 15/02/2022 Central Government Loan SOV 0.00 - 16.65 16.65
equal 8.79% GOI 2021 Central Government Loan SOV 0.00 - 20.15 15.39
equal Export-Import Bank 181-D 21/12/2021 Certificate of Deposit A1+ 0.00 - 7.04 7.04
equal Axis Bank 28/01/2022 Certificate of Deposit A1+ 0.00 - 7.01 7.01
equal Reserve Bank of India 364-D 17/02/2022 Treasury Bills SOV 0.00 - 6.00 6.00
new Indian Oil Corporation 17-D 17/09/2021 Commercial Paper A1+ 0.00 - 4.06 4.06
down HDFC-Warrant 347-D 24/09/2021 Commercial Paper A1+ 0.00 - 9.90 4.06
equal Reserve Bank of India 182-D 14/10/2021 Treasury Bills SOV 0.00 - 4.05 4.05
equal Reserve Bank of India 91-D 30/09/2021 Treasury Bills SOV 0.00 - 4.05 4.05
equal Reserve Bank of India 182-D 30/12/2021 Treasury Bills SOV 0.00 - 4.02 4.02
equal National Bank Agr. Rur. Devp 27/01/2022 Certificate of Deposit A1+ 0.00 - 4.39 4.01
equal National Bank Agr. Rur. Devp 2022 Commercial Paper A1+ 0.00 - 4.38 4.00
down 7.17% Nat. Highways Authority 23/12/2021 Non Convertible Debenture AAA 0.00 - 5.26 3.88
new Sikka Ports and Terminals 184-D 23/02/2022 Commercial Paper A1+ 0.00 - 3.00 3.00
equal Kotak Mahindra Bank 27/01/2022 Certificate of Deposit A1+ 0.00 - 2.19 2.00
equal Reserve Bank of India 364-D 11/03/2022 Treasury Bills SOV 0.00 - 2.00 2.00
equal SIDBI 18/03/2022 Commercial Paper A1+ 0.00 - 1.99 1.99
equal 4.23% HDFC 18/02/2022 Debenture AAA 0.00 - 1.04 1.04
down National Bank Agr. Rur. Devp 164-D 27/09/2021 Commercial Paper A1+ 0.00 - 1.82 1.01
equal Axis Bank 22/10/2021 Certificate of Deposit A1+ 0.00 - 7.41 1.01
new SIDBI 25/03/2022 Commercial Paper A1+ 0.00 - 1.00 1.00
equal Reserve Bank of India 364-D 24/03/2022 Treasury Bills SOV 0.00 - 1.00 1.00
equal Axis Bank 13/05/2022 Certificate of Deposit A1+ 0.00 - 0.66 0.66

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-Aug-2021

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 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 21-Mar-2020

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:


0.00%

Change from previous, NAV as on 24-Sep-2021

Growth: ₹ 34.7916

IDCW Weekly: ₹ 11.1297

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IDCW Monthly: ₹ 12.7547

IDCW Daily: ₹ 10.3216

Bonus: ₹ 18.9776


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
Lock-in Period Not Applicable
Exit Load 0

Basic Details

Fund House: L&T Mutual Fund
Launch Date: 10-Apr-2003
Return Since Launch: 7.19%
Benchmark: NIFTY Ultra Short Duration Debt
Riskometer: Low to Moderate
Type: Open-ended
Assets: ₹ 2,461 Cr (As on 31-Aug-2021)
Expense: 0.39% (As on 31-Aug-2021)
Risk Grade: Below Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Daily23-Sep-20210.0005

 22-Sep-20210.0002
 21-Sep-20210.0007
 20-Sep-20210.0026
 17-Sep-20210.0010
 16-Sep-20210.0011
 15-Sep-20210.0002
 14-Sep-20210.0008
 13-Sep-20210.0036
 09-Sep-20210.0003
 08-Sep-20210.0009
 07-Sep-20210.0007
 06-Sep-20210.0026
 03-Sep-20210.0009
 02-Sep-20210.0010
 01-Sep-20210.0019
 31-Aug-20210.0009
 30-Aug-20210.0027
 27-Aug-20210.0010
 26-Aug-20210.0006
 25-Aug-20210.0012
 24-Aug-20210.0006
 23-Aug-20210.0029
 20-Aug-20210.0023
 18-Aug-20210.0015
IDCW Weekly20-Sep-20210.0052

 13-Sep-20210.0053
 06-Sep-20210.0071
 30-Aug-20210.0061
 23-Aug-20210.0056
 17-Aug-20210.0094
 09-Aug-20210.0055
 02-Aug-20210.0060
 26-Jul-20210.0067
 19-Jul-20210.0071
 12-Jul-20210.0085
 05-Jul-20210.0085
 28-Jun-20210.0063
 21-Jun-20210.0041
 14-Jun-20210.0066
 07-Jun-20210.0068
 31-May-20210.0047
 24-May-20210.0058
 17-May-20210.0054
 10-May-20210.0041
 03-May-20210.0078
 26-Apr-20210.0073
 19-Apr-20210.0077
 12-Apr-20210.0010
 06-Apr-20210.0054
IDCW Monthly25-Aug-20210.0400

 26-Jul-20210.0400
 25-Jun-20210.0400
 25-May-20210.0400
 26-Apr-20210.0400
 25-Mar-20210.0500
 25-Feb-20210.0500
 25-Jan-20210.0500
 28-Dec-20200.0500
 25-Nov-20200.0500
 26-Oct-20200.0500
 25-Sep-20200.0500
 25-Aug-20200.0500
 27-Jul-20200.0500
 25-Jun-20200.0500
 26-May-20200.0800
 27-Apr-20200.0800
 26-Mar-20200.0576
 25-Feb-20200.0576
 27-Jan-20200.0576
 26-Dec-20190.0576
 25-Nov-20190.0576
 25-Oct-20190.0576
 25-Sep-20190.0576
 26-Aug-20190.0576
IDCW 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: 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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