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2 star

L&T Gilt Fund


Debt: Gilt

1 Lakh

Investment Grown to
₹ 1.09 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.27 Lakh

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 sharp ups and downs because of changes in interest rates.

However, retail investors can avoid these funds altogether. There are far too many kinds of debt funds with a highly nuanced classification based on the type or duration of bonds they can invest in. We believe that so many fund categories add to complexity which is easily avoidable. Retail investors can simply invest in Liquid funds for an investment horizon of up to one year and Short Duration funds for the fixed income allocation (which should be 100 per cent for an investment horizon of up to three years) in their longer-term portfolios.

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 8.69 -0.26 -0.16 0.66 2.66 6.94 8.81 7.06 8.60 9.60 9.60
CCIL All Sovereign Bond - TRI 10.91 -0.06 0.20 1.33 3.94 8.92 11.51 9.53 10.37 10.55 9.42
Debt: Gilt 8.77 -0.25 -0.16 0.51 2.06 6.99 9.56 7.72 9.07 9.32 8.89
Rank within category 13 13 12 6 3 13 18 19 17 8 7
Number of funds in category 25 25 25 25 25 25 25 25 24 22 20

As on 06-Aug-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
L&T Gilt Fund  | Invest Online
2 star
Mar-00 8.81 7.06 8.60 1.77 253
SBI Magnum Gilt Fund  | Invest Online
4 star
Dec-00 11.02 8.45 10.04 0.95 3,415
Nippon India Gilt Securities Fund  | Invest Online
5 star
Jul-03 10.77 8.98 10.46 1.59 1,452
Nippon India Gilt Securities PF
5 star
Aug-08 10.78 8.98 10.46 1.71 1,452
IDFC Government Securities Fund - Investment Plan - Regular Plan
5 star
Dec-08 13.13 9.59 10.28 1.16 1,163

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 7.11 3.67 0.51 1.04 0.72 -1.09
CCIL All Sovereign Bond - TRI 9.37 4.78 0.87 2.01 -- --
Debt: Gilt 7.73 3.92 0.65 1.49 0.76 -0.63
Rank within category 19 6 19 18 8 18
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-Jul-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 7 7 2 8
Modified Duration (yrs) 8.02 8.19 3.95 --
Average Maturity (yrs) 15.06 15.84 5.02 --
Yield to Maturity (%) 6.30 6.94 6.30 --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 7.26% GOI 14/01/2029 GOI Securities SOV 0.00 - 70.48 21.32
equal 7.57% GOI 17/06/2033 GOI Securities SOV 0.00 - 24.74 15.31
up 7.17% GOI 2028 GOI Securities SOV 0.00 - 20.88 14.84
up 6.79% GOI 15/05/2027 GOI Securities SOV 0.00 - 19.06 14.61
equal 7.19% GOI 15/09/2060 GOI Securities SOV 0.00 - 12.50 10.80
equal 7.16% GOI 20/09/2050 GOI Securities SOV 0.00 - 12.40 10.68
up 7.40% GOI 2035 Central Government Loan SOV 0.00 - 8.65 8.65

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 30-Jun-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:


-0.26%

Change from previous, NAV as on 06-Aug-2020

Growth: ₹ 53.0947

Dividend Quarterly: ₹ 12.5108


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: 8.54%
Benchmark: CRISIL Dynamic Gilt TRI
Riskometer: Moderate
Type: Open-ended
Assets: ₹ 253 Cr (As on 30-Jun-2020)
Expense: 1.77% (As on 30-Jun-2020)
Risk Grade: Average
Return Grade: Below Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Quarterly25-Jun-20200.2500

 20-Mar-20200.1801
 27-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

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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