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Premium member Presentation Transcript PowerPoint Presentation: L&T Gilt Fund An open-ended Dedicated Gilt (Government Securities) Fund December 2011 1 www.LNTMF.comPowerPoint Presentation: Why Invest in Gilts? • Government securities as the name suggests are issued by the government of India. • Zero default risk*, as there is a sovereign guarantee. • Fairly liquid market as g-secs are traded by banks, mutual funds, insurance companies, financial institutions etc. • Broad range of maturity bucket - ranging from 91 days to 30 years - which may suit investor’s investment horizon. * Please note that government securities carry sovereign risk which is minimal as compared to other securities. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. 2 www.LNTMF.comPowerPoint Presentation: Why invest in Gilts through Mutual Funds? • Low ticket size - Investors can invest as little as Rs 10,000 in a Gilt Fund, whereas investing directly into g-secs requires a minimum investment of Rs 10 lakhs provided a security is bought at par value. • No entry load and relatively lower exit load, which may result in reduced cost for retail investors. • Open ended structure - enabling subscription / withdrawal at any business day, of a Gilt Fund, subject to exit load, as applicable. • Economies of scale - as Mutual Fund can trade in G-secs in market lot. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. 3 www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Characteristics • L&T Gilt Fund invests in securities of Central and State Government(s) and a small portion of corpus in Money Market instruments. • In-depth study of the macro economic conditions, including the political, economic environment and factors affecting liquidity and interest rates, to arrive at an investment decision. • The fund is managed actively and tries to predict the likely direction of interest rates and position the portfolio appropriately to take possible advantage of the same. • Invests a minimum of 80% of its net assets in g-secs and t-bills. • Maximum portfolio maturity of the scheme shall not exceed 12 years. • SIP facility can be availed in the fund with a frequency of 5 th /15 th /25 th / 30 th (28 th for the month of February) of every month. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 4 information purpose only. www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Portfolio Characteristics • The fund has increased modified duration in the last month, which may help it to take possible advantage of interest rate movement. • Below is the Average Maturity trend of the fund, in the last 6 months Source: ICRA mfie. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 5 information purpose only. www.LNTMF.comPowerPoint Presentation: Why Gilts Now? • RBI seems to be in its last leg of interest rate cycle, and may look to maintain the status quo for now, before reversing the rate cycle. • The latest borrowing calendar announced by the GoI increased additional borrowing in dated securities by Rs 40,000 crores in Dec 2011. Additional supply might provide an opportunity to enter the markets at suitable levels. • Inflation has come off its peak in recent months, but is still quoting above RBI’s comfort zone of 7%. • Deficit liquidity in the system and a fall in demand in the economy however leaves little room for RBI to continue with its hardening interest rate stance. • OMO announcements in Jan 2012 may ease the liquidity and could provide demand for G-Sec. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 6 information purpose only. www.LNTMF.comPowerPoint Presentation: RBI - from watchful to normal • RBI has hiked rates for 13 consecutive times in the past 18 months, before taking a pause recently. • The stance now seems to be changed from anti-inflationary to neutral but watchful. • Possible reversal of interest rate cycle if inflation cools off and growth falters further. Source: RBI Source: Bloomberg 7 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: Yield curve expected to flatten • The long term rates and short terms rates seems to be on a flat note as of now. • Any rate cut in future may lead to an opportunity in the medium to long term segment in the market. • Benchmark 10 year g-sec may have factored in the news flow. Source: Bloomberg The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 8 information purpose only. www.LNTMF.comPowerPoint Presentation: Borrowing Programme • Government has announced an additional borrowing of Rs 40,000 crores in dated securities in Dec 2011. • In October,2011 government had raised its additional borrowing plan by around Rs 53,000 crores; taking the total additional borrowing to approx 1 trillion for the fiscal year. • This seems to be have been factored in the yields. Source: RBI 9 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: Inflation - the bone of contention • RBI policy in the last 18 months has been centered around managing Inflation concerns and expectation. • RBI has chosen to curb inflation down even at the cost of growth. • However, with Inflation cooling off a bit - specially food inflation - hopes of a rate cut may be high in near to medium term, specially with growth tapering off sharply. WPI Inflation YoY (%) Source: Office of the Economic Advisor 10 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Performance L&T Gilt Fund -Investment Plan (Nav as on December 31, 2011 - 23.2384) NAV Per Unit Date (Rs.) Scheme Benchmark Additional Returns (%) Returns # Benchmark ^ (%) Returns # # (%) Current Value of Standard Investment of Rs 10000 in the Scheme (Rs) ^Benchmark Additional #(Rs) Benchmark # # (Rs) Since inception till December 31, 2011** 10.0000 7.43% 7.81% 7.15% 23,243 20,836 20,421 December 31, 2010 to December 31, 2011* 22.2417 4.50% 6.08% 1.91% December 31, 2009 to December 31, 2010* 21.6790 2.60% 6.31% 3.11% December 31, 2008 to December 31, 2009* 24.0109 -9.71% -8.43% -8.66% Not applicable ^ Past performance may or may not be sustained in the future Inception date : (29/03/2000) *Absolute Returns **CAGR Returns # I‐Sec Li‐ BEX ‐Returns from 31.03.02 ## Crisil 10 year Gilt Index - Returns from 01.09.01. Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend Distribution Tax, as applicable. Load is not considered for computation of returns Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 11 information purpose only. www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Scheme Facts Type An Open-Ended Dedicated Gilt (Government Securities) Scheme Investment The investment objective of the scheme will be to generate returns from a portfolio from investments in Objective government securities. Asset Allocation Instruments Min% - Risk Profile Max% Government securities 80% - 100% Low Money market instruments (including cash / call money) 0% - 20% Low to Medium Maximum Portfolio Maturity of the scheme shall not exceed 12 years. Minimum Application Rs 10,000 per application and in multiples of Re. 1 thereafter. Amount Options Investment Plan - This offers two options: Dividend and Cumulative Option Sub Option: Dividend (Reinvestment and Payout ) - Quarterly Dividend. Loads (including Entry Load: Nil SIP/ STP/ SWP/ DIP) In terms of SEBI circular no. SEBI/IMD/CTR No. 4/168230/09 dated June 30, 2009, no entry load will be charged on Purchase/Additional Purchase/Switch-ins. The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor. Exit Load: • 0.25% if redeemed ≤ 1 month; • Nil if redeemed > 1 month Fund Manager Bekxy Kuriakose Benchmark I-Sec Li-Bex For further details, please refer SID / KIM of the scheme. 12 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: Other Schemes managed by the Fund Manager L&T Liquid Fund Regular Plan -Cumulative Option (Nav as on December 31, 2011 - 2069.8985) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Returns for 7 Days 8.40% 8.92% 8.26% NA NA NA Returns for 14 Days 8.34% 8.50% 8.58% NA NA NA Returns for 30 Days 8.23% 8.15% 8.92% NA NA NA Since inception till December 31, 2011 1000.0000 6.68% 5.95% 6.19% 20,699 17,576 13,188 December 31, 2010 to December 31, 2011 1909.9600 8.37% 8.15% 3.39% December 31, 2009 to December 31, 2010 1819.7800 4.96% 5.12% 3.08% December 31, 2008 to December 31, 2009 1735.5300 4.85% 4.86% 4.93% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Liquid Fund Index -Returns from 30.03.02 ## Crisil 91 Day T-Bill Index - Returns from 01.04.06 L&T Floating Rate Fund Regular Cumulative Option (Nav as on December 31, 2011 - 15.2196) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 13.7463 9.06% 8.01% 6.28% 11,075 10,950 10,744 December 31, 2010 to December 31, 2011 13.9267 9.32% 8.15% 6.42% December 31, 2009 to December 31, 2010 NA NA NA NA December 31, 2008 to December 31, 2009 NA NA NA NA Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Liquid Fund Index ## Crisil 1 Year T-Bill Index Returns from 27/10/10 Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend Distribution Tax, as applicable. Load is not considered for computation of returns. 13 Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose. www.LNTMF.comPowerPoint Presentation: Other Schemes managed by the Fund Manager L&T Ultra Short Term Fund Regular Plan - Cumulative Option (Nav as on December 31, 2011 - 16.5524) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 8.05% 5.95% 6.29% 29,802 17,576 23,645 December 31, 2010 to December 31, 2011 15.1754 9.10% 8.15% 6.42% December 31, 2009 to December 31, 2010 14.4349 5.13% 5.12% 2.81% December 31, 2008 to December 31, 2009 13.6863 5.47% 4.86% 2.88% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Liquid Fund Index -Returns from 30.03.02 ## Crisil 1 Year T-Bill Index Bonus issued @ 5:9 in Feb 2004 has to ploughed back into NAV for calculating accurate returns L&T Select Income Fund - Flexi Debt Fund Retail Plan - Growth Option (Nav as on December 31, 2011 - 11.6303) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 7.02% 6.00% 3.33% 11,633 11,388 10,758 December 31, 2010 to December 31, 2011 10.6499 9.23% 6.90% 1.91% December 31, 2009 to December 31, 2010 10.1064 5.38% 4.96% 3.11% December 31, 2008 to December 31, 2009 NA NA NA NA Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Composite Bond Fund Index -Returns from 08.10.09 ## Crisil 10 Year Gilt Index Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose. Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend Distribution Tax, as applicable. Load is not considered for computation of returns. 14 www.LNTMF.comPowerPoint Presentation: Other Schemes managed by the Fund Manager L&T Triple Ace Fund (Nav as on December 31, 2011 - 27.7158) Regular Cumulative Option NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs) ^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 7.15% 5.95% 7.15% 27,721 17,577 20,421 December 31, 2010 to December 31, 2011 26.0307 6.50% 6.90% 1.91% December 31, 2009 to December 31, 2010 25.1099 3.67% 4.96% 3.11% December 31, 2008 to December 31, 2009 25.5181 -1.60% 3.50% ‐8.66% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Composite Bond Fund Index -Returns from 30.03.02 ## Crisil 10 Year Gilt Index - Returns from 01.09.01 L&T Monthly Income Plan (Nav as on December 31, 2011 - 19.9895) Cumulative Option NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs) ^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 8.57% 7.42% 4.32% 19,993 18,281 14,277 December 31, 2010 to December 31, 2011 19.7145 1.41% 1.72% 1.91% December 31, 2009 to December 31, 2010 18.6753 5.56% 7.00% 3.11% December 31, 2008 to December 31, 2009 16.5623 12.76% 12.99% ‐8.66% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL MIP Blended Index ## Crisil 10 Year Gilt Index The scheme is co-managed by Pankaj Gupta for Equity Portion Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend 15 Distribution Tax, as applicable. Load is not considered for computation of returns. www.LNTMF.comPowerPoint Presentation: Disclaimers Disclaimer: 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 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. 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. The name of the Scheme/Plan/Mutual Fund do not in any manner indicate either the quality of the Scheme/ Plan or its future prospects and returns; and are only the name of the Scheme/ Plan. There can be no assurance that the objective of the Scheme/ Mutual Fund will be achieved. Scheme Specific Risk Factors: Investment in the Scheme shall be subject to various risks including but not limited to risk associated with: Investment in Fixed Income Securities such as Performance Risk, Credit Risk, Reinvestment Risk, Interest Rate Risk, etc. Please read the Scheme Information Document and Statement of Additional Information carefully before investing. 16 www.LNTMF.com You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
L&T_Gilt_Fund_-_Dec_2011 lntmf Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 14 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: January 19, 2012 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript PowerPoint Presentation: L&T Gilt Fund An open-ended Dedicated Gilt (Government Securities) Fund December 2011 1 www.LNTMF.comPowerPoint Presentation: Why Invest in Gilts? • Government securities as the name suggests are issued by the government of India. • Zero default risk*, as there is a sovereign guarantee. • Fairly liquid market as g-secs are traded by banks, mutual funds, insurance companies, financial institutions etc. • Broad range of maturity bucket - ranging from 91 days to 30 years - which may suit investor’s investment horizon. * Please note that government securities carry sovereign risk which is minimal as compared to other securities. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. 2 www.LNTMF.comPowerPoint Presentation: Why invest in Gilts through Mutual Funds? • Low ticket size - Investors can invest as little as Rs 10,000 in a Gilt Fund, whereas investing directly into g-secs requires a minimum investment of Rs 10 lakhs provided a security is bought at par value. • No entry load and relatively lower exit load, which may result in reduced cost for retail investors. • Open ended structure - enabling subscription / withdrawal at any business day, of a Gilt Fund, subject to exit load, as applicable. • Economies of scale - as Mutual Fund can trade in G-secs in market lot. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. 3 www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Characteristics • L&T Gilt Fund invests in securities of Central and State Government(s) and a small portion of corpus in Money Market instruments. • In-depth study of the macro economic conditions, including the political, economic environment and factors affecting liquidity and interest rates, to arrive at an investment decision. • The fund is managed actively and tries to predict the likely direction of interest rates and position the portfolio appropriately to take possible advantage of the same. • Invests a minimum of 80% of its net assets in g-secs and t-bills. • Maximum portfolio maturity of the scheme shall not exceed 12 years. • SIP facility can be availed in the fund with a frequency of 5 th /15 th /25 th / 30 th (28 th for the month of February) of every month. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 4 information purpose only. www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Portfolio Characteristics • The fund has increased modified duration in the last month, which may help it to take possible advantage of interest rate movement. • Below is the Average Maturity trend of the fund, in the last 6 months Source: ICRA mfie. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 5 information purpose only. www.LNTMF.comPowerPoint Presentation: Why Gilts Now? • RBI seems to be in its last leg of interest rate cycle, and may look to maintain the status quo for now, before reversing the rate cycle. • The latest borrowing calendar announced by the GoI increased additional borrowing in dated securities by Rs 40,000 crores in Dec 2011. Additional supply might provide an opportunity to enter the markets at suitable levels. • Inflation has come off its peak in recent months, but is still quoting above RBI’s comfort zone of 7%. • Deficit liquidity in the system and a fall in demand in the economy however leaves little room for RBI to continue with its hardening interest rate stance. • OMO announcements in Jan 2012 may ease the liquidity and could provide demand for G-Sec. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 6 information purpose only. www.LNTMF.comPowerPoint Presentation: RBI - from watchful to normal • RBI has hiked rates for 13 consecutive times in the past 18 months, before taking a pause recently. • The stance now seems to be changed from anti-inflationary to neutral but watchful. • Possible reversal of interest rate cycle if inflation cools off and growth falters further. Source: RBI Source: Bloomberg 7 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: Yield curve expected to flatten • The long term rates and short terms rates seems to be on a flat note as of now. • Any rate cut in future may lead to an opportunity in the medium to long term segment in the market. • Benchmark 10 year g-sec may have factored in the news flow. Source: Bloomberg The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 8 information purpose only. www.LNTMF.comPowerPoint Presentation: Borrowing Programme • Government has announced an additional borrowing of Rs 40,000 crores in dated securities in Dec 2011. • In October,2011 government had raised its additional borrowing plan by around Rs 53,000 crores; taking the total additional borrowing to approx 1 trillion for the fiscal year. • This seems to be have been factored in the yields. Source: RBI 9 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: Inflation - the bone of contention • RBI policy in the last 18 months has been centered around managing Inflation concerns and expectation. • RBI has chosen to curb inflation down even at the cost of growth. • However, with Inflation cooling off a bit - specially food inflation - hopes of a rate cut may be high in near to medium term, specially with growth tapering off sharply. WPI Inflation YoY (%) Source: Office of the Economic Advisor 10 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Performance L&T Gilt Fund -Investment Plan (Nav as on December 31, 2011 - 23.2384) NAV Per Unit Date (Rs.) Scheme Benchmark Additional Returns (%) Returns # Benchmark ^ (%) Returns # # (%) Current Value of Standard Investment of Rs 10000 in the Scheme (Rs) ^Benchmark Additional #(Rs) Benchmark # # (Rs) Since inception till December 31, 2011** 10.0000 7.43% 7.81% 7.15% 23,243 20,836 20,421 December 31, 2010 to December 31, 2011* 22.2417 4.50% 6.08% 1.91% December 31, 2009 to December 31, 2010* 21.6790 2.60% 6.31% 3.11% December 31, 2008 to December 31, 2009* 24.0109 -9.71% -8.43% -8.66% Not applicable ^ Past performance may or may not be sustained in the future Inception date : (29/03/2000) *Absolute Returns **CAGR Returns # I‐Sec Li‐ BEX ‐Returns from 31.03.02 ## Crisil 10 year Gilt Index - Returns from 01.09.01. Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend Distribution Tax, as applicable. Load is not considered for computation of returns Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose. The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for 11 information purpose only. www.LNTMF.comPowerPoint Presentation: L&T Gilt Fund - Scheme Facts Type An Open-Ended Dedicated Gilt (Government Securities) Scheme Investment The investment objective of the scheme will be to generate returns from a portfolio from investments in Objective government securities. Asset Allocation Instruments Min% - Risk Profile Max% Government securities 80% - 100% Low Money market instruments (including cash / call money) 0% - 20% Low to Medium Maximum Portfolio Maturity of the scheme shall not exceed 12 years. Minimum Application Rs 10,000 per application and in multiples of Re. 1 thereafter. Amount Options Investment Plan - This offers two options: Dividend and Cumulative Option Sub Option: Dividend (Reinvestment and Payout ) - Quarterly Dividend. Loads (including Entry Load: Nil SIP/ STP/ SWP/ DIP) In terms of SEBI circular no. SEBI/IMD/CTR No. 4/168230/09 dated June 30, 2009, no entry load will be charged on Purchase/Additional Purchase/Switch-ins. The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor. Exit Load: • 0.25% if redeemed ≤ 1 month; • Nil if redeemed > 1 month Fund Manager Bekxy Kuriakose Benchmark I-Sec Li-Bex For further details, please refer SID / KIM of the scheme. 12 The above should not be construed as solicitation for purchase of schemes of L&T Mutual Fund. The same is for information purpose only. www.LNTMF.comPowerPoint Presentation: Other Schemes managed by the Fund Manager L&T Liquid Fund Regular Plan -Cumulative Option (Nav as on December 31, 2011 - 2069.8985) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Returns for 7 Days 8.40% 8.92% 8.26% NA NA NA Returns for 14 Days 8.34% 8.50% 8.58% NA NA NA Returns for 30 Days 8.23% 8.15% 8.92% NA NA NA Since inception till December 31, 2011 1000.0000 6.68% 5.95% 6.19% 20,699 17,576 13,188 December 31, 2010 to December 31, 2011 1909.9600 8.37% 8.15% 3.39% December 31, 2009 to December 31, 2010 1819.7800 4.96% 5.12% 3.08% December 31, 2008 to December 31, 2009 1735.5300 4.85% 4.86% 4.93% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Liquid Fund Index -Returns from 30.03.02 ## Crisil 91 Day T-Bill Index - Returns from 01.04.06 L&T Floating Rate Fund Regular Cumulative Option (Nav as on December 31, 2011 - 15.2196) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 13.7463 9.06% 8.01% 6.28% 11,075 10,950 10,744 December 31, 2010 to December 31, 2011 13.9267 9.32% 8.15% 6.42% December 31, 2009 to December 31, 2010 NA NA NA NA December 31, 2008 to December 31, 2009 NA NA NA NA Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Liquid Fund Index ## Crisil 1 Year T-Bill Index Returns from 27/10/10 Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend Distribution Tax, as applicable. Load is not considered for computation of returns. 13 Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose. www.LNTMF.comPowerPoint Presentation: Other Schemes managed by the Fund Manager L&T Ultra Short Term Fund Regular Plan - Cumulative Option (Nav as on December 31, 2011 - 16.5524) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 8.05% 5.95% 6.29% 29,802 17,576 23,645 December 31, 2010 to December 31, 2011 15.1754 9.10% 8.15% 6.42% December 31, 2009 to December 31, 2010 14.4349 5.13% 5.12% 2.81% December 31, 2008 to December 31, 2009 13.6863 5.47% 4.86% 2.88% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Liquid Fund Index -Returns from 30.03.02 ## Crisil 1 Year T-Bill Index Bonus issued @ 5:9 in Feb 2004 has to ploughed back into NAV for calculating accurate returns L&T Select Income Fund - Flexi Debt Fund Retail Plan - Growth Option (Nav as on December 31, 2011 - 11.6303) NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs)^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 7.02% 6.00% 3.33% 11,633 11,388 10,758 December 31, 2010 to December 31, 2011 10.6499 9.23% 6.90% 1.91% December 31, 2009 to December 31, 2010 10.1064 5.38% 4.96% 3.11% December 31, 2008 to December 31, 2009 NA NA NA NA Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Composite Bond Fund Index -Returns from 08.10.09 ## Crisil 10 Year Gilt Index Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose. Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend Distribution Tax, as applicable. Load is not considered for computation of returns. 14 www.LNTMF.comPowerPoint Presentation: Other Schemes managed by the Fund Manager L&T Triple Ace Fund (Nav as on December 31, 2011 - 27.7158) Regular Cumulative Option NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs) ^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 7.15% 5.95% 7.15% 27,721 17,577 20,421 December 31, 2010 to December 31, 2011 26.0307 6.50% 6.90% 1.91% December 31, 2009 to December 31, 2010 25.1099 3.67% 4.96% 3.11% December 31, 2008 to December 31, 2009 25.5181 -1.60% 3.50% ‐8.66% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL Composite Bond Fund Index -Returns from 30.03.02 ## Crisil 10 Year Gilt Index - Returns from 01.09.01 L&T Monthly Income Plan (Nav as on December 31, 2011 - 19.9895) Cumulative Option NAV Per Unit Scheme Benchmark Additional Current Value of Standard Investment of Rs 10000 in Date (Rs.) Returns (%) ^ Returns # (%) Benchmark the Returns # # Scheme (Rs) ^ Benchmark Additional Benchmark (%) #(Rs) # # (Rs) Since inception till December 31, 2011 10.0000 8.57% 7.42% 4.32% 19,993 18,281 14,277 December 31, 2010 to December 31, 2011 19.7145 1.41% 1.72% 1.91% December 31, 2009 to December 31, 2010 18.6753 5.56% 7.00% 3.11% December 31, 2008 to December 31, 2009 16.5623 12.76% 12.99% ‐8.66% Not applicable ^ Past performance may or may not be sustained in the future # CRISIL MIP Blended Index ## Crisil 10 Year Gilt Index The scheme is co-managed by Pankaj Gupta for Equity Portion Refer slide no 13 to 15 for performance of other schemes managed by the fund manager of L&T Gilt Fund i.e. Ms. Bekxy Kuriakose Since inception returns are computed on Rs. 10 invested at inception. Performance of dividend option would be net of Dividend 15 Distribution Tax, as applicable. Load is not considered for computation of returns. www.LNTMF.comPowerPoint Presentation: Disclaimers Disclaimer: 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 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. 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. The name of the Scheme/Plan/Mutual Fund do not in any manner indicate either the quality of the Scheme/ Plan or its future prospects and returns; and are only the name of the Scheme/ Plan. There can be no assurance that the objective of the Scheme/ Mutual Fund will be achieved. Scheme Specific Risk Factors: Investment in the Scheme shall be subject to various risks including but not limited to risk associated with: Investment in Fixed Income Securities such as Performance Risk, Credit Risk, Reinvestment Risk, Interest Rate Risk, etc. Please read the Scheme Information Document and Statement of Additional Information carefully before investing. 16 www.LNTMF.com