L&T Low Duration Fund (Formerly known as L&T Short Term Income Fund)ᵟ

Data as on May 31, 2019

L&T Low Duration Fund (Formerly known as L&T Short Term Income Fund)ᵟ L&T Short Term Income Fund

Data as on May 31, 2019

Fund Details

NAV of Plans/Options
(as on May 31, 2019)

Dividend Option - Regular Plan
Annual Dividend Option - Regular Plan
Growth Option - Regular Plan
Dividend Option - Direct Plan
Annual Dividend Option - Direct Plan
Growth Option - Direct Plan
Date of Inception :
Regular PlanDecember 04, 2010
Direct PlanJanuary 01, 2013
Total Expense Ratio+ : 0.95% (Regular)
0.45% (Direct)
- Including Additional Expenses, B30 charges and GST on Management Fees
- Total Expense Ratio is as on the last business day of the month
Options• Growth
• Dividend option (Reinvestment and Payout)
• Annual option (Reinvestment and Payout))
Minimum Application size
Rs 10,000 per application
Additional InvestmentRs 1000 per application
Minimum Redemption SizeRs 500 or 50 units
Fund ManagerMr. Vikas Garg and Mr. Shriram Ramanathan (w.e.f. April 03, 2017)
BenchmarkCRISIL Short Term Bond Fund Index
Monthly Average AUM (Rs In Crs) 1,117.79
Month end AUM(Rs In Crs) 1,109.15

Portfolio Allocation
Name Of Instrument
% to Net Assets

Listed/Awaiting Listing on the Exchange
Non Convertible Debentures
Bharat Aluminium Company Limited ICRA AA- 7.62%
DLF Promenade Limited (Commercial Mortgage Backed Security)- CRISIL AA(SO) 6.77%
Indostar Capital Finance Limited CARE AA- 5.85%
National Bank for Agriculture & Rural Development CRISIL AAA 5.05%
Housing Development Finance Corporation Limited CRISIL AAA 4.53%
Hinduja Leyland Finance Limited CARE AA- 5.04%
Amba River Coke Limited (Subsidiary of JSW Steel Ltd) CARE AA 3.78%
Music Broadcast Private Limited (subsidiary of Jagran Prakashan Ltd) CRISIL AA 3.64%
Sikka Ports & Terminals Limited (erstwhile Reliance Ports & Terminals Ltd) CRISIL AAA 3.45%
Dewan Housing Finance Corporation Limited CARE BBB- 3.06%
HPCL-Mittal Energy Limited (Long term take or pay agreement with HPCL) ICRA AA+ 3.03%
LIC Housing Finance Limited CRISIL AAA 2.27%
Tata Power Company Limited ICRA AA 2.26%
Green Infra Wind Energy Limited (subsidiary of Sembcorp Energy India Ltd) CRISIL AA(SO) 2.26%
Sundaram BNP Paribas Home Finance Limited ICRA AA+ 2.25%
J M Financial Products Limited ICRA AA 2.66%
Reliance Industries Limited CRISIL AAA 2.23%
Muthoot Finance Limited CRISIL AA 2.23%
Name Of Instrument
% to Net Assets

India Infoline Finance Limited ICRA AA 1.81%
Aadhar Housing Finance Limited CARE AA 1.71%
Walwhan Renewables Energy Private Limited (Corporate guarantee of Tata Power Company Ltd) CARE AA(SO) 1.48%
State Bank Of India CRISIL AA+ 1.47%
National Housing Bank CARE AAA 1.36%
Oriental Nagpur Betul Highway Limited (Nhai Annuity Receivables) CRISIL AAA(SO) 1.27%
TMF Holdings Limited CRISIL AA 0.99%
Reliance Broadcast Network Limited (Letter of Comfort/DSRA Guarantee of Reliance Capital) CARE BBB-(SO) 0.84%
Bharat Petroleum Corporation Limited CRISIL AAA 0.46%
Tata Motors Limited CARE AA 0.45%
Vedanta Limited CRISIL AA 0.18%
Total 80.00%
Commercial Paper/Certificate of Deposit
Bank of Baroda CARE A1+ 2.14%
National Bank for Agriculture & Rural Development ICRA A1+ 2.11%
Total 4.25%
Rent-A-Device Trust(Backed by lease rentals from Reliance Retail Ltd) ICRA AAA(SO) 6.08%
Total 6.08%
Tri Party Repo Dealing System (TREPS)/Reverse Repo 6.61%
Net Receivable/Payable 3.06%
Grand Total 100.00%
Average Maturity 1.00 years
Modified Duration 0.80 years
YTM 9.13%

Pursuant to declaration/ payment of dividend, the NAV will fall to the extent of the payout and statutory levy (if applicable).
Face value Rs10/-.
Past performance of the aforesaid schemes may or may not be sustained in future.
Please note that the dividend rates mentioned are post applicable dividend distribution tax deduction.

Investment objective: To generate reasonable returns primarily through investments in fixed income securities and money market instruments. There is no assurance that the objective of the Scheme will be realised and the Scheme does not assure or guarantee any returns
Exit Load: If the units redeemed or switched out are upto 10% of the units purchased or switched in (“the limit”) within 3 months from the date of allotment: Nil. If units redeemed or switched out are over and above the limit within 3 months from the date of allotment: 1%. If units are redeemed or switched out on or after 3 months from the date of allotment: Nil (w.e.f. December 12, 2018)
ᵟ Pursuant to the circular issued by SEBI on 'Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective from May 14, 2018. For details of other funds managed by the Fund Manager and the performance of the schemes, please refer to 'Scheme Performance Section'
+ Please refer to note on expense ratios in 'Fund Manager wise Scheme Details'