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L&T Gilt Fund


1 Lakh

Investment Grown to
₹ 1.11 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.26 Lakh

Analyst's Choice?

Suitability:

This is a fund that invests mainly in bonds issued by the government of India. These bonds do not carry any risk of default since the repayment of investors' money is backed by the government. But they are prone to sharper ups and downs because of changes in interest rates.

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 2.31 -0.03 0.14 1.82 2.58 2.97 10.73 6.41 7.43 9.06 8.78
CCIL All Sovereign Bond - TRI 3.56 0.20 0.57 3.01 4.39 4.89 15.61 9.44 9.13 9.28 8.89
Debt: Gilt 2.65 -0.02 0.12 2.25 2.80 3.90 13.23 7.70 7.89 8.44 8.50
Rank within category 21 20 8 24 15 22 23 23 18 7 7
Number of funds in category 25 25 25 25 25 25 25 25 24 22 19

As on 25-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 7.46 (03-Oct-2008 - 10-Oct-2008) -6.13 (02-Jan-2009 - 09-Jan-2009)
Month 13.52 (29-Sep-2008 - 29-Oct-2008) -8.52 (02-Jan-2009 - 03-Feb-2009)
Quarter 21.10 (30-Sep-2008 - 30-Dec-2008) -16.70 (05-Jan-2009 - 06-Apr-2009)
Year 26.40 (04-Dec-2000 - 04-Dec-2001) -10.82 (02-Jan-2009 - 04-Jan-2010)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 4.75 3.89 -0.24 -0.38 0.71 -2.00
CCIL All Sovereign Bond - TRI 7.18 5.14 0.29 0.53 -- --
Debt: Gilt 5.92 4.17 0.07 0.17 0.76 -0.89
Rank within category 23 8 23 23 9 23
Number of funds in category 25 25 25 25 25 25

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 4 7 2 8
Modified Duration (yrs) 3.95 6.74 1.42 5.47
Average Maturity (yrs) 5.02 9.75 1.85 8.07
Yield to Maturity (%) 6.66 7.52 6.57 6.67

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 0.00 - 59.10 21.23
equal 7.27% GOI 2026 GOI Securities SOV 0.00 - 21.22 21.22
new 7.26% GOI 14/01/2029 GOI Securities SOV 0.00 - 70.48 21.09
equal 6.18% GOI 2024 GOI Securities SOV 0.00 - 20.35 20.35

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:


-0.03%

Change from previous, NAV as on 25-Feb-2020

Growth: ₹ 49.9810

Dividend Quarterly: ₹ 12.2652


Investment Strategy

The fund seeks to generate returns from a portfolio that is free from credit risk and invests in gilt securities with medium to long term residual maturity, with the average maturity of the portfolio normally not exceeding 12 years.

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: 29-Mar-2000
Return Since Launch: 8.41%
Benchmark: CRISIL Dynamic Gilt TRI
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 122 Cr (As on 31-Jan-2020)
Expense: 1.83% (As on 31-Jan-2020)
Risk Grade: Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly27-Dec-20190.1801

 24-Sep-20190.1801
 24-Jun-20190.1801
 22-Mar-20190.1441
 27-Dec-20180.1441
 27-Sep-20180.1441
 22-Jun-20180.1441
 23-Mar-20180.1445
 22-Dec-20170.1806
 20-Sep-20170.1806
 21-Jun-20170.2528
 23-Mar-20170.2167
 28-Dec-20160.2528
 28-Sep-20160.2528
 29-Jun-20160.2528
 23-Mar-20160.2528
 30-Dec-20150.2528
 29-Sep-20150.2528
 29-Jun-20150.1733
 26-Mar-20150.3194
 29-Dec-20140.1597
 24-Sep-20140.1714
 24-Jun-20140.2338
 24-Mar-20140.1870
 24-Dec-20130.1559

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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