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3 star

L&T Banking and PSU Debt Fund


1 Lakh

Investment Grown to
₹ 1.05 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.23 Lakh

Suitability:

Banking and PSU funds invest mainly in bonds issued by banks, public sector undertakings (PSUs) and public financial institutions. They are suitable for a short investment horizon of two to three years, or for the fixed-income allocation in your longer-term portfolio. You can expect to earn higher returns than what a bank fixed deposit can fetch.

The risk of incurring a loss in these funds is low, but they do not guarantee returns or safety of capital like a bank deposit.

Remember, their returns may not be substantially higher than inflation. They are meant to deliver steady, but low to moderate returns and are not suitable 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 2.55 -0.07 -0.04 0.20 1.35 2.77 5.17 8.23 7.37 7.76 --
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 --
Debt: Banking and PSU 2.81 -0.09 -0.02 0.51 1.42 2.99 5.27 8.59 7.50 7.99 --
Rank within category 16 8 16 21 14 15 11 13 12 -- --
Number of funds in category 21 22 22 22 22 22 19 17 15 13 3

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 Banking and PSU Debt Fund  | Invest Online
3 star
Sep-07 5.17 8.23 7.37 0.61 5,164
IDFC Banking & PSU Debt Fund - Regular Plan
5 star
Mar-13 5.09 9.78 7.89 0.63 19,284
Aditya Birla Sun Life Banking & PSU Debt Fund - Regular Plan  | Invest Online
4 star
Apr-08 5.77 9.00 7.67 0.67 18,125
Axis Banking & PSU Debt Fund
4 star
Jun-12 4.78 9.00 7.91 0.62 16,786
Nippon India Banking & PSU Debt Fund  | Invest Online
5 star
May-15 5.66 9.30 7.85 0.79 6,785

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 3.81 24-Mar-2020 - 31-Mar-2020 -2.55 12-Mar-2020 - 19-Mar-2020
Month 4.63 24-Mar-2020 - 23-Apr-2020 -3.44 20-Feb-2020 - 23-Mar-2020
Quarter 7.81 24-Mar-2020 - 24-Jun-2020 -1.39 24-Dec-2019 - 24-Mar-2020
Year 12.46 02-Jul-2019 - 01-Jul-2020 -24.51 14-Sep-2011 - 13-Sep-2012

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 8.01 2.14 1.86 3.54 1.89 5.22
CCIL T Bill Liquidity Weight 3.37 0.39 -1.71 -4.34 -- --
Debt: Banking and PSU 8.12 2.44 1.81 3.37 2.27 5.58
Rank within category 12 5 13 8 4 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-Aug-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 48 50 44 84
Modified Duration (yrs) 1.68 2.35 1.68 2.32
Average Maturity (yrs) 1.85 2.75 1.85 3.15
Yield to Maturity (%) 4.41 5.34 4.41 4.81
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 7.32% GOI 28/01/2024 GOI Securities SOV 6.84 - 15.86 8.30
equal 6.18% GOI 2024 GOI Securities SOV 2.58 - 14.38 8.20
equal 6.55% NTPC 17/04/2023 Debenture AAA 5.49 - 8.06 6.35
equal 6.44% Indian Oil Corporation 14/04/2023 Debenture AAA 4.84 - 7.10 5.61
equal 5.04% Indian Railway Finance Corporation 2023 Debenture AAA 0.00 - 5.59 5.13
equal 6.55% National Housing Bank 17/04/2023 Debenture AAA 4.24 - 6.23 4.91
new HDFC Bank 17/08/2022 Certificate of Deposit A1+ 0.00 - 4.67 4.67
equal 6.40% National Bank Agr. Rur. Devp 31/07/2023 Non Convertible Debenture AAA 0.00 - 5.66 4.53
equal 8.50% National Bank Agr. Rur. Devp Debenture AAA 3.50 - 5.14 3.99
equal Export-Import Bank 19/05/2023 Certificate of Deposit AAA 3.14 - 4.60 3.87
equal 4.79% Hindustan Petroleum Corporation 23/10/2023 Debenture AAA 0.00 - 4.06 3.75
up 7.16% GOI 20/05/2023 Central Government Loan SOV 0.00 - 3.62 3.62
equal 5.47% Power Finance Corporation 19/08/2023 Debenture AAA 0.00 - 3.94 3.45
equal 9.05% HDFC 20/11/2023 Debenture AAA 2.67 - 4.22 3.31
equal 5.69% REC 30/09/2023 Non Convertible Debenture AAA 0.00 - 3.36 3.13
equal 6.80% Hindustan Petroleum Corporation 15/12/2022 Debenture AAA 2.27 - 3.34 2.62
equal 8.25% Indian Railway Finance Corporation 28/02/2024 Debenture AAA 2.12 - 5.57 2.12
equal 8.80% Power Grid Corporation 13/03/2023 Bonds AAA 1.73 - 2.54 1.97
equal 6.95% HDFC 27/04/2023 Debenture AAA 1.57 - 2.16 1.95
new Axis Bank 28/04/2022 Certificate of Deposit A1+ 0.00 - 1.89 1.89
equal 5.80% National Housing Bank 15/05/2023 Debenture AAA 1.30 - 1.90 1.51
equal 5.32% National Housing Bank 2023 Non Convertible Debenture AAA 0.00 - 1.61 1.49
equal 8.70% Power Grid Corporation 15/07/2023 Bonds AAA 1.29 - 1.89 1.47
equal 7.20% HDFC 13/04/2023 Non Convertible Debenture AAA 0.00 - 1.49 1.34
equal 6.99% Housing & Urban Development Corporation 2022 Debenture AAA 0.86 - 1.34 1.05

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-May-2016

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 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:


-0.07%

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

Growth: ₹ 19.9082

IDCW Weekly: ₹ 10.8317

More

IDCW Monthly: ₹ 11.3279

IDCW Daily: ₹ 11.1076


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
Lock-in Period Not Applicable
Exit Load 0

Basic Details

Fund House: L&T Mutual Fund
Launch Date: 20-Sep-2007
Return Since Launch: 7.92%
Benchmark: NIFTY Banking and PSU Debt Index
Riskometer: Low to Moderate
Type: Open-ended
Assets: ₹ 5,164 Cr (As on 31-Aug-2021)
Expense: 0.61% (As on 31-Aug-2021)
Risk Grade: Below Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Daily20-Sep-20210.0033

 15-Sep-20210.0021
 13-Sep-20210.0029
 06-Sep-20210.0002
 02-Sep-20210.0013
 01-Sep-20210.0074
 31-Aug-20210.0033
 30-Aug-20210.0090
 27-Aug-20210.0003
 25-Aug-20210.0009
 20-Aug-20210.0027
 18-Aug-20210.0061
 17-Aug-20210.0101
 13-Aug-20210.0108
 12-Aug-20210.0029
 11-Aug-20210.0023
 05-Aug-20210.0023
 04-Aug-20210.0049
 03-Aug-20210.0052
 02-Aug-20210.0036
 30-Jul-20210.0037
 29-Jul-20210.0015
 28-Jul-20210.0032
 27-Jul-20210.0037
 26-Jul-20210.0057
IDCW Weekly20-Sep-20210.0059

 13-Sep-20210.0060
 06-Sep-20210.0087
 30-Aug-20210.0100
 23-Aug-20210.0014
 17-Aug-20210.0258
 09-Aug-20210.0001
 02-Aug-20210.0117
 26-Jul-20210.0056
 19-Jul-20210.0175
 12-Jul-20210.0291
 05-Jul-20210.0085
 14-Jun-20210.0164
 07-Jun-20210.0195
 24-May-20210.0119
 17-May-20210.0023
 10-May-20210.0143
 03-May-20210.0168
 26-Apr-20210.0274
 19-Apr-20210.0005
 06-Apr-20210.0183
 30-Mar-20210.0158
 22-Mar-20210.0299
 08-Mar-20210.0112
 01-Mar-20210.0084
IDCW Monthly25-Aug-20210.0500

 26-Jul-20210.0500
 25-Jun-20210.0500
 25-May-20210.0500
 26-Apr-20210.0500
 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-20200.0500
 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

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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