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L&T Banking and PSU Debt Fund


1 Lakh

Investment Grown to
₹ 1.11 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.27 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 2.09 0.04 0.25 1.77 2.70 5.62 10.97 7.71 8.09 8.20 --
CCIL T Bill Liquidity Weight 0.45 0.00 0.04 0.33 0.88 1.81 4.08 4.15 4.44 4.78 --
Debt: Banking and PSU 1.96 0.06 0.25 1.71 2.63 5.17 10.87 7.92 8.21 8.44 --
Rank within category 7 10 10 8 8 4 11 13 -- -- --
Number of funds in category 19 19 19 19 19 18 17 15 13 5 3

As on 14-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 1.17 (09-Nov-2016 - 16-Nov-2016) -0.82 (06-Dec-2016 - 13-Dec-2016)
Month 2.59 (25-Oct-2016 - 24-Nov-2016) -1.03 (25-Nov-2016 - 27-Dec-2016)
Quarter 4.62 (25-Aug-2016 - 24-Nov-2016) -0.75 (06-Dec-2016 - 07-Mar-2017)
Year 11.95 (24-Nov-2015 - 24-Nov-2016) -24.51 (14-Sep-2011 - 13-Sep-2012)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.93 1.80 0.70 1.14 4.19 7.99
CCIL T Bill Liquidity Weight 4.06 0.27 -6.06 -10.48 -- --
Debt: Banking and PSU 7.18 2.04 0.86 1.66 4.66 9.00
Rank within category 15 5 12 13 4 14
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-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 50 50 12 68
Modified Duration (yrs) 2.52 3.08 0.04 2.52
Average Maturity (yrs) 3.02 4.09 0.05 3.22
Yield to Maturity (%) 6.90 8.33 6.79 6.78

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
up 8.50% National Bank Agr. Rur. Devp Debenture AAA 0.00 - 9.87 9.32
equal 9.05% HDFC 20/11/2023 Debenture AAA 0.00 - 9.47 8.05
up 8.85% HDFC Bank 31/12/2099 Bonds AA+ 0.00 - 8.92 7.39
up 8.25% IRFC 28/02/2024 Debenture AAA 0.00 - 5.97 5.97
equal 7.60% Nat. Highways Authority 18/03/2022 Bonds AAA 0.00 - 6.77 5.74
up State Bank of India 2056 Debenture AA+ 0.00 - 8.27 5.12
equal 6.80% HPCL 15/12/2022 Debenture AAA 0.00 - 5.02 3.66
new 6.59% IRFC 14/04/2023 Debenture AAA 0.00 - 3.64 3.64
equal 7.61% HUDCO 22/06/2022 Debenture AAA 0.00 - 6.29 3.56
new 6.44% Indian Oil Corp. 14/04/2023 Debenture AAA 0.00 - 3.49 3.49
up 8.80% Power Grid Corporation 13/03/2023 Bonds AAA 0.00 - 3.26 2.84
up 8.90% State Bank of India 2028 Non Convertible Debenture AAA 0.00 - 2.93 2.32
down REC 13/12/2022 Debenture AAA 0.00 - 4.00 2.18
equal 8.70% Power Grid Corporation 15/07/2023 Bonds AAA 0.00 - 8.72 2.16
equal 7.29% SIDBI 2022 Debenture AAA 0.00 - 5.48 2.07
new 7.21% HDFC 30/12/2022 Debenture AAA 0.00 - 1.89 1.89
equal 7.93% NTPC 2022 Non Convertible Debenture AAA 0.00 - 8.08 1.87
equal 7.27% Nat. Highways Authority 2022 Debenture AAA 0.00 - 3.37 1.77
equal 6.80% SIDBI 29/09/2022 Debenture AAA 0.00 - 2.41 1.76
equal 8.75% LIC Housing Fin. 2023 Debenture AAA 0.00 - 7.13 1.66
equal 6.99% SIDBI 2022 Bonds/NCDs AAA 0.00 - 1.73 1.47
equal 6.99% HUDCO 2022 Debenture AAA 0.00 - 2.01 1.46
equal HPCL 14/08/2024 Debenture AAA 0.00 - 3.88 1.46
equal 8.02% BPCL 2024 Debenture AAA 0.00 - 3.33 1.44
equal 9.08% LIC Housing Fin. 17/10/2023 Bonds AAA 0.00 - 4.92 1.43

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-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:


0.04%

Change from previous, NAV as on 14-Feb-2020

Growth: ₹ 17.9526

Dividend Weekly: ₹ 10.7467

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Dividend Monthly: ₹ 11.1110

Dividend Daily: ₹ 10.9091


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: 20-Sep-2007
Return Since Launch: 8.20%
Benchmark: NIFTY Banking and PSU Debt TRI
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 3,442 Cr (As on 31-Jan-2020)
Expense: 0.61% (As on 31-Jan-2020)
Risk Grade: Below Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily14-Feb-20200.0015

 13-Feb-20200.0015
 12-Feb-20200.0014
 11-Feb-20200.0015
 10-Feb-20200.0044
 07-Feb-20200.0015
 06-Feb-20200.0123
 05-Feb-20200.0019
 04-Feb-20200.0026
 03-Feb-20200.0146
 28-Jan-20200.0052
 27-Jan-20200.0065
 24-Jan-20200.0039
 23-Jan-20200.0048
 22-Jan-20200.0078
 21-Jan-20200.0046
 20-Jan-20200.0072
 17-Jan-20200.0003
 13-Jan-20200.0024
 09-Jan-20200.0004
 08-Jan-20200.0050
 07-Jan-20200.0051
 03-Jan-20200.0079
 02-Jan-20200.0026
 01-Jan-20200.0000
Dividend Weekly10-Feb-20200.0101

 03-Feb-20200.0102
 27-Jan-20200.0131
 20-Jan-20200.0128
 13-Jan-20200.0077
 06-Jan-20200.0170
 30-Dec-20190.0073
 23-Dec-20190.0239
 02-Dec-20190.0102
 25-Nov-20190.0103
 18-Nov-20190.0202
 04-Nov-20190.0089
 29-Oct-20190.0104
 22-Oct-20190.0228
 14-Oct-20190.0175
 07-Oct-20190.0141
 30-Sep-20190.0183
 09-Sep-20190.0043
 03-Sep-20190.0101
 26-Aug-20190.0104
 19-Aug-20190.0090
 13-Aug-20190.0121
 05-Aug-20190.0247
 29-Jul-20190.0071
 15-Jul-20190.0107
Dividend Monthly27-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-20180.0288
 25-Oct-20180.0288
 25-Sep-20180.0288
 27-Aug-20180.0360
 25-Jul-20180.0360
 25-Jun-20180.0360
 25-May-20180.0360
 25-Apr-20180.0360
 26-Mar-20180.0361
 26-Feb-20180.0361
 25-Jan-20180.0361

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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