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L&T Banking and PSU Debt Fund - Direct Plan


1 Lakh

Investment Grown to
₹ 1.12 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.26 Lakh

Analyst's Choice?

Suitability:

This is a fund that invests mainly in bonds issued by banks, public sector undertakings (PSUs) and public financial institutions.

Like most other debt fund categories, we believe that retail investors can avoid this one as well. In our opinion, debt funds make sense for retail investors only if they are investing for 3 years or less. For that kind of investment horizon, Liquid Debt funds and Short Term debt funds are much more suitable.

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 5.25 0.01 -0.01 2.06 2.81 5.53 11.55 8.57 8.69 8.73 --
CCIL T Bill Liquidity Weight 1.80 0.04 0.01 0.27 1.09 1.99 4.11 4.21 4.39 4.73 --
Debt: Banking and PSU 4.88 0.05 0.01 1.64 2.45 5.24 10.74 8.51 8.68 8.75 --
Rank within category 5 11 12 1 5 5 5 11 -- -- --
Number of funds in category 18 18 18 18 18 18 17 15 13 7 0

As on 05-Jun-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 3.81 (24-Mar-2020 - 31-Mar-2020) -2.54 (12-Mar-2020 - 19-Mar-2020)
Month 4.66 (24-Mar-2020 - 23-Apr-2020) -3.40 (20-Feb-2020 - 23-Mar-2020)
Quarter 4.74 (25-Aug-2016 - 24-Nov-2016) -1.29 (24-Dec-2019 - 24-Mar-2020)
Year 12.68 (23-May-2019 - 22-May-2020) 4.95 (11-Sep-2017 - 11-Sep-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 8.34 2.01 1.47 3.01 2.27 5.76
CCIL T Bill Liquidity Weight 4.15 0.27 -4.64 -8.65 -- --
Debt: Banking and PSU 8.30 2.24 1.43 3.01 2.96 6.58
Rank within category 12 7 10 10 6 12
Number of funds in category 17 17 17 17 17 17

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

As on 31-May-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 50 52 28 64
Modified Duration (yrs) 2.34 3.07 2.34 --
Average Maturity (yrs) 2.77 4.09 2.77 --
Yield to Maturity (%) 6.65 7.93 6.65 --

Value Research Fund Style*

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 6.55% NTPC 17/04/2023 Debenture AAA 0.00 - 8.54 7.96
up 6.44% Indian Oil Corp. 14/04/2023 Debenture AAA 0.00 - 6.91 6.91
down 8.50% National Bank Agr. Rur. Devp Debenture AAA 6.32 - 10.47 6.32
up 6.55% National Housing Bank 17/04/2023 Debenture AAA 0.00 - 6.15 6.15
equal 8.25% IRFC 28/02/2024 Debenture AAA 3.16 - 7.19 5.28
equal State Bank of India 2056 Debenture AA+ 4.47 - 8.27 5.00
new Export-Import Bank 19/05/2023 Certificate of Deposit AAA 0.00 - 4.59 4.59
down 9.05% HDFC 20/11/2023 Debenture AAA 4.57 - 9.47 4.57
down 8.85% HDFC Bank 31/12/2099 Bonds AA+ 3.77 - 8.92 3.77
equal 6.80% HPCL 15/12/2022 Debenture AAA 0.00 - 5.02 3.22
new 6.50% National Bank Agr. Rur. Devp 17/04/2023 Debenture AAA 0.00 - 3.20 3.20
equal 7.20% Reliance Industries 17/04/2023 Non Convertible Debenture AAA 0.00 - 2.71 2.53
equal 8.80% Power Grid Corporation 13/03/2023 Bonds AAA 0.00 - 3.41 2.49
equal 6.59% IRFC 14/04/2023 Debenture AAA 0.00 - 3.86 2.44
equal 8.90% State Bank of India 2028 Non Convertible Debenture AAA 0.00 - 2.93 2.03
equal 8.70% Power Grid Corporation 15/07/2023 Bonds AAA 1.89 - 7.28 1.89
new 5.80% National Housing Bank 15/05/2023 Debenture AAA 0.00 - 1.88 1.88
new 6.95% HDFC 27/04/2023 Debenture AAA 0.00 - 1.62 1.62
equal 7.27% Nat. Highways Authority 2022 Debenture AAA 1.00 - 3.37 1.55
equal 6.80% SIDBI 29/09/2022 Debenture AAA 0.00 - 2.41 1.54
down 7.60% Nat. Highways Authority 18/03/2022 Bonds AAA 1.37 - 6.77 1.37
equal HPCL 14/08/2024 Debenture AAA 0.00 - 3.88 1.31
equal 6.99% SIDBI 2022 Bonds/NCDs AAA 0.00 - 1.76 1.29
equal 6.99% HUDCO 2022 Debenture AAA 0.00 - 2.01 1.28
equal 8.02% BPCL 2024 Debenture AAA 0.00 - 3.33 1.27

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-May-2020

*As on 30-Apr-2020

Fund Manager

— Jalpan Shah since 30-May-2016

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:

— Shriram Ramanathan since 03-Apr-2017

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:


0.01%

Change from previous, NAV as on 05-Jun-2020

Growth: ₹ 19.0858

Dividend Weekly: ₹ 10.8489

Dividend Monthly: ₹ 11.5842


Investment Strategy

The scheme aims to generate reasonable returns by primarily investing in debt and money market securities that are issued by Banks, Public Sector Undertakings and Public Financial Institutions in India.

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: 01-Jan-2013
Return Since Launch: 8.72%
Benchmark: NIFTY Banking and PSU Debt TRI
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 4,029 Cr (As on 31-May-2020)
Expense: 0.21% (As on 30-Apr-2020)
Risk Grade: Below Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily26-May-20200.0046

 22-May-20200.0021
 21-May-20200.0020
 20-May-20200.0081
 19-May-20200.0021
 18-May-20200.0060
 15-May-20200.0021
 14-May-20200.0049
 13-May-20200.0171
 12-May-20200.0037
 08-May-20200.0188
 06-May-20200.0246
 23-Apr-20200.0165
 22-Apr-20200.0117
 21-Apr-20200.0146
 20-Apr-20200.0354
 17-Apr-20200.0053
 04-Mar-20200.0128
 26-Feb-20200.0043
 24-Feb-20200.0002
 17-Feb-20200.0047
 14-Feb-20200.0016
 13-Feb-20200.0015
 12-Feb-20200.0016
 11-Feb-20200.0016
Dividend Monthly26-May-20200.0500

 27-Apr-20200.0500
 26-Mar-20200.0360
 25-Feb-20200.0360
 27-Jan-20200.0360
 26-Dec-20190.0360
 25-Nov-20190.0360
 25-Oct-20190.0360
 25-Sep-20190.0360
 26-Aug-20190.0360
 25-Jul-20190.0360
 25-Jun-20190.0360
 27-May-20190.0360
 25-Apr-20190.0360
 25-Mar-20190.0360
 25-Feb-20190.0360
 25-Jan-20190.0360
 26-Dec-20180.0360
 26-Nov-20180.0360
 25-Oct-20180.0360
 25-Sep-20180.0360
 27-Aug-20180.0360
 25-Jul-20180.0360
 25-Jun-20180.0360
 25-May-20180.0360
Dividend Weekly26-May-20200.0219

 18-May-20200.0168
 11-May-20200.0164
 04-May-20200.0276
 20-Apr-20200.0341
 13-Apr-20200.0053
 30-Mar-20200.0538
 24-Feb-20200.0040
 17-Feb-20200.0107
 10-Feb-20200.0107
 03-Feb-20200.0108
 27-Jan-20200.0154
 20-Jan-20200.0134
 13-Jan-20200.0082
 06-Jan-20200.0175
 30-Dec-20190.0079
 23-Dec-20190.0243
 02-Dec-20190.0108
 25-Nov-20190.0108
 18-Nov-20190.0214
 04-Nov-20190.0094
 29-Oct-20190.0109
 22-Oct-20190.0248
 14-Oct-20190.0180
 07-Oct-20190.0146

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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