L&T MIP - Wealth Builder Fund - NFO

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New Fund Offer NFO OPENS: SEPTEMBER 27, 2011 NFO CLOSES: OCTOBER 11, 2011 L&T MIP - WEALTH BUILDER FUND WWW.LNTMF.COM (Monthly income is not assured and is subject to availability of distributable surplus) Offer of units at Rs. 10/- per unit during NFO

Contents: 

Contents What is L&T MIP - Wealth Builder Fund ? Why L&T MIP - Wealth Builder Fund Now? Debt Market Scenario Why the Debt Markets may look reasonable? Why the Equity Market may look reasonable ? WWW.LNTMF.COM

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Investment Objective An Open Ended Income Scheme The primary investment objective is to generate monthly income through investments in a range of Debt, Equity and Money Market Instruments . Income will be distributed only if the same is earned by the Scheme and there can be no assurance that the objective of the Scheme will be realized Monthly income is not assured and is subject to availability of distributable surplus. WWW.LNTMF.COM L&T MIP - WEALTH BUILDER FUND New Fund Offer

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70% Can invest 70% to 100% in debt, MMI and Government Securities (Including CBLO/Reverse Repos) 30% Can invest upto 30% in well researched stocks. WWW.LNTMF.COM For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates

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MIP BLENDED FUND INDEX TO BE Benchmarked AGAINST WWW.LNTMF.COM CRISIL

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MINIMUM APPLICATION AMOUNT A minimum of Rs. 10,000/- per application and in multiples of Re. 1/- thereafter. Monthly Dividend Option & Quarterly Dividend Option A minimum of Rs. 5,000/- per application and in multiples of Re. 1/- thereafter. For Growth Option WWW.LNTMF.COM

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if redeemed > 1 year LOAD STRUCTURE if redeemed ≤ 1 year 1% NIL WWW.LNTMF.COM Entry Load : NIL Exit Load :

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SIP Systematic Investment Plan WWW.LNTMF.COM Available

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DIVIDENDS IN HANDS OF INDIVIDUAL INVESTORS tax-free Short Term Capital Gains will be as per individual slabs plus education cess of 2% & secondary and higher education cess @ 1% Long term capital gains will be 10 percent without Indexation or 20 percent with indexation benefit plus education cess of 2% & secondary and higher education cess @ 1% WWW.LNTMF.COM

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Why L&T MIP - Wealth Builder Fund Now? For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates WWW.LNTMF.COM

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2 Reasons to why L & T MIP – Wealth Builder Fund Now Current Equity Market Scenario Current Debt Market Scenario WWW.LNTMF.COM For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates

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Current Debt Market Scenario With a Combination of CPs, CD’s, Gilts and other debt instruments, the scheme could take benefit of a possible rally WWW.LNTMF.COM For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund. Views expressed here in are not recommendations from the AMC or its associates

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In this scheme, the fixed Income allocation would be managed by investments in CD’s, CP’s, government securities and other debt instruments which endeavor to generate returns while moderating credit & interest rate risk . Scheme Endeavors to identify securities that offer suitable levels of yield at moderate levels of risks. For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. Debt allocation in L&T MIP - Wealth Builder Fund WWW.LNTMF.COM

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Scheme Endeavors to hold securities, the duration management of which is aimed to be strategic and directional on the basis of the interest rate environment. Scheme Endeavors to make investments in debt securities having moderate to high rating so as to maintain the portfolio at minimal credit risk. Scheme Endeavors to make Investments, on the basis of thorough, in house credit research of companies which form a part of a well defined universe. For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. Contd.. WWW.LNTMF.COM

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Current Equity Market Scenario Current markets may offer opportunities to purchase quality stocks at attractive valuations Marginal Equity allocation may provide advantage of any possible upside in the equity markets. Scheme Endeavors to Invest in stocks having long term potential Scheme may take exposure to equity diversified across stocks and sectors WWW.LNTMF.COM For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates

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Up to 30 % Equity allocation of the Scheme will be prudently invested in Growth and Value stocks Key guiding principles for managing equity portion would be: Active cash call will be taken based on market view. Sector rotation strategies would be followed more actively. For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. Equity Allocation in L&T MIP – Wealth Builder Fund WWW.LNTMF.COM

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Debt Market Scenario For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. WWW.LNTMF.COM

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For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. Graph is only for illustration purposes only. Source Bloomberg Gilt yields have shown a rising trend. Indian Debt Market Scenario 10 Year G-sec from September 2008 to September 2011. WWW.LNTMF.COM

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Money market rates have fallen since March 2011 however post July 2011 rates have risen again The graph shows 3 Month and 1 Year Certificate of Deposit rates from September 2008 to 2011 Source : Bloomberg Data as on 21-sept-11 For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates Indian Debt Market Scenario WWW.LNTMF.COM

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Corporate bond yields have shown mixed trend , the yields have been supported by demand from insurance companies, FII buying and attractive spreads. OIS ( Overnight Indexed Swap )rates have shown significant volatility (fallen in long end and risen in short end) as compared to gilts due to global developments and expectation of peaking of interest rate hike cycle by RBI Reserve bank of India has hiked key repo rate 12 times in the past 18 months. Banking system liquidity has remained in deficit mode so far in this fiscal For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. Indian Debt Market Scenario WWW.LNTMF.COM

Global Debt Market Developments: 

Yields of US treasuries have shown a declining trend as slower growth and weaker economic environment have led movement towards risk free assets. Continuing woes in the euro zone have also led investors towards flight to safety Crude oil prices have fallen from108.30 /$ in 31 Mar 2011 to 86.89/$ as on Septemebr 20, 2011 as concerns of slowdown of global economy have increased. Gold prices have risen significantly on investor demand for safe haven assets, high inflation and central bank rate rise actions eroding value of paper money For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund. Views expressed here in are not recommendations from the AMC or its associates. Source : Bloomberg Global Debt Market Developments WWW.LNTMF.COM

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Why the Debt Markets may look reasonable ? For information purposes only and should not be construed as solicitation for purchase of L&T MIP-Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates WWW.LNTMF.COM

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The environment may turn favorable for a medium to long term bond portfolio as yields on debt instruments seem to be at reasonable levels. The Reserve Bank of India might be few steps close to the end of its rate tightening cycle, as inflationary pressures are likely to ease which might provide impetus for a pause. Slowdown in global economies could also impact domestic growth environment as export growth might slowdown. WWW.LNTMF.COM Interest Rate Outlook For information purposes only and should not be construed as solicitation for purchase of L&T MIP-Wealth Builder Fund. Views expressed here in are not recommendations from the AMC or its associates . Source : Bloomberg. Outlook as on Sep 2011

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Incremental deposit growth of Rs. 3,01,131 Crore in this fiscal has far outpaced credit growth of Rs. 1,02,779 Crore. This could lead to bank demand for SLR to remain robust and short term rates may remain stable going forward as bank CD issuances may not be high as in previous fiscal. Current rates of interest may open reasonable avenues to lock in the investments. Interest rates are not expected to remain high on a sustained basis, therefore investment at current levels may provide opportunity when the cycle reverses. WWW.LNTMF.COM Contd.. For information purposes only and should not be construed as solicitation for purchase of L&T MIP-Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. Source : Bloomberg. Outlook as on Sep 2011

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Does the Equity Market look reasonable now? For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund. Views expressed here in are not recommendations from the AMC or its associates WWW.LNTMF.COM

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WWW.LNTMF.COM Equity Markets Scenario Markets seem to be trading at reasonable levels. (Market PE trading at a discount to historical average). Current Valuations below 10 Yrs Avg. For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates. The above graph is for illustration purposes only. Source: Motilal Oswal Research | As of August 2011 The market Sensex is currently (June 2011 QTR) trading at P/E of 13.5 vis-à-vis P/E of 14.5 of last 10 year (June 2011 Qtr ) This could offer an opportunity to build your wealth. Hence the current volatility in the market may provide a suitable entry point to generate long term wealth.

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WWW.LNTMF.COM Contd.. Current weakness and uncertainty may provide an entry point for long term portfolios Indian growth seems to be relatively strong in relation to the global and developed market growth Currently Indian economy is most likely to be at the end of rate tightening, which may be a favorable environment to invest in equities Benign commodity prices & cooling of Oil prices internationally may favor Indian economy . For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates.

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WWW.LNTMF.COM India is considered as one of the fastest growing economies in the World . Source: Tradingeconomics.com | As of June 2011 World GDP Performance Compared with Indian GDP For illustration purposes only For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates

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Where are we in the Market Cycle? We may be somewhere here WWW.LNTMF.COM Source :Enam Answer is Exactly where we were in September 2008 For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates

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For information purposes only and should not be construed as solicitation for purchase of L&T MIP - Wealth Builder Fund . Views expressed here in are not recommendations from the AMC or its associates

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This presentation has been prepared by L&T Investment Management Limited (LTIML) for information purposes only and should not be construed as an offer or solicitation of an offer for purchase of any securities/ instruments or any of the Schemes of L&T Mutual Fund. Views expressed herein are for general information only and do not have regards to specific investment objectives, financial situation and the particular needs of any specific person who may have receive this information. These views alone are not sufficient and should not be used for the development or implementation of an investment strategy. It should not be construed as investment advice to any party. All opinions and estimates included here constitute our view as of this date and are subject to change without notice. Neither L&T Investment Management Ltd, nor any person connected with it, accepts any liability arising from the use of this information. The recipient of this material should rely on their investigations and take their own professional advice. Recipient of this document should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ instruments/ sectors/ market conditions in this presentation is only for illustration purpose and are should not be construed as any recommendations from the Author or the AMC or any of its associates. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions . DISCLAIMER WWW.LNTMF.COM WWW.LNTMF.COM

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Statutory Details: L&T Mutual Fund has been established as a trust under the Indian Trust Act, 1882 by L&T Finance Limited, Sponsor/ Settlor (liability restricted to the seed corpus of Rs. 1 lakh) with L&T Mutual Fund Trustee Limited as the Trustee Company and L&T Investment Management Limited as the Investment Manager. Risk Factors: All investments in mutual funds and securities are subject to market risks and the NAV of the Scheme of the Fund may go up or down depending upon the factors and forces affecting the securities market. Investment in mutual fund units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal. Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future performance of the Scheme. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond the initial contribution of Rs. 1 lakh made by it towards setting up the Fund. L&T MIP – Wealth Builder Fund do not in any manner indicate either the quality of the Scheme or its future prospects and returns; and is only the name of the Scheme. There can be no assurance that the objectives of the Scheme/ Mutual Fund will be achieved. Scheme Specific Risk Factors: Monthly Income is not assured and is subject to availability of distributable surplus. Investment in the Scheme shall be subject to various risks including but not limited to risk associated with: Investment in Equity and Equity related Instruments & Fixed Income Securities such as Performance Risk, Credit Risk, Reinvestment Risk, Interest Rate Risk, Investment in Derivatives, Securitized Debt, etc. Please read the Scheme Information Document (SID) and Statement of Additional Information (SAI) carefully before investing. . STATUTORY DETAILS AND RISK FACTORS WWW.LNTMF.COM WWW.LNTMF.COM

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Investment objective and classification : L&T MIP – Wealth Builder Fund ( An Open Ended Income Scheme ) : The primary investment objective is to generate monthly income through investments in a range of Debt, Equity and Money Market Instruments. Income will be distributed only if the same is earned by the Scheme and there can be no assurance that the objective of the Scheme will be realized. Load Structure: Entry Load: Nil, Exit Load: 1% if redeemed ≤ 1 year; Nil - if redeemed > 1 year. Bonus units and units issued on reinvestment of dividends shall not be subject to exit load. The investor is requested to check the prevailing load structure of the Scheme before investing. Asset Allocation: Debt, Money Market Instruments & Government Securities (including CBLO/ reverse repos): 70%-100% and Equity & Equity Related Instruments: 0%-30%. The Scheme may invest upto 50% of its net assets in Securitized debt. The Scheme shall have derivatives exposure as per the SEBI/ RBI Guidelines issued from time to time. The stock lending, if undertaken, would not exceed 15% of the net assets of the Scheme. For further details, Investors are requested to refer Section on "Asset Allocation" in Scheme Information Document. Terms of issue and mode of sale and redemption of units: Units of the Scheme are being offered at Rs. 10/- per unit during NFO and at NAV based prices, subject to the prevailing loads, upon re-opening. The AMC shall calculate and publish the NAV of the Scheme on all Business Days. Investors are requested to note that ASBA facility is also available as an additional mode of payment during NFO (for lumpsum investments). Units of the Scheme can also be transacted in demat mode (only) on the Mutual Fund Service System (MFSS) of NSE and/ or (StAR MF) of BSE. SID, SAI, Key Information Memorandum and Application Forms are available at AMC Branches/ Collecting Bankers/ Investor Service Centres/ Distributors and at Mutual Fund website www.lntmf.com. STATUTORY DETAILS AND RISK FACTORS WWW.LNTMF.COM WWW.LNTMF.COM

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