L&T Credit Risk Fund

Data as on March 31, 2020


L&T Credit Risk Fund

Data as on March 31, 2020


Fund Details

NAV of Plans/Options
(as on March 31, 2020)

Rs
Dividend - Regular Plan
10.4152
Annual Dividend - Regular Plan
10.7937
Growth - Regular Plan
21.6335
Bonus - Regular Plan
21.2853
Dividend - Direct Plan
10.8286
Annual Dividend - Direct Plan
11.1493
Growth - Direct Plan
22.4393
Date of Inception :
Regular Plan October 08, 2009
Direct Plan January 01, 2013
Total Expense Ratio+ : 1.68% (Regular)
0.89% (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
• Annual Dividend
Minimum Application size
(Initial)
Rs 10,000 per application and in multiples of Rs 1 thereafter.
Additional Investment Rs 1000 per application and in multiples of Rs 1 thereafter.
Minimum Redemption Size Rs Retail Option : Rs 500/- per application or 50 units Dividend/ Growth/ Bonus: Rs 500 per application or 50 units
Fund Manager Mr. Shriram Ramanathan and Mr. Jalpan Shah (w.e.f March 21, 2020)
Benchmark CRISIL Composite Credit Risk Index
Monthly Average AUM (Rs In Crs) 1,537.01
Month end AUM(Rs In Crs) 1,420.75

Portfolio Allocation
Name Of Instrument
Rating/Industry
% to Net
Assets

DEBT INSTRUMENTS
GOVERNMENT BONDS
07.32% GOI 28-JAN-2024 SOVEREIGN 1.86%
Total 1.86%
Listed/Awaiting Listing on the Exchange
Non Convertible Debentures
Green Infra Wind Energy Limited (subsidiary of Sembcorp Energy India Ltd) CRISIL AA 10.58%
Samasta Microfinance Limited (Subsidiary of India Infoline Group) CARE A 10.54%
Renew Power Limited CARE A+ 8.43%
Vizag General Cargo Berth Private Limited (Corporate guarantee of Vedanta Ltd) CRISIL AA (CE) 7.02%
National Bank for Agriculture & Rural Development CRISIL AAA 6.06%
Indofil Industries Limited CRISIL A+ 5.30%
SP Jammu Udhampur Highway Limited (NHAI Annuity Receivables) IND AAA 3.95%
Indian Railway Finance Corporation Limited CARE AAA 3.78%
L&T Metro Rail (Hyderabad) Limited (Put Option On L&T Limited ) IND AAA (CE) 3.73%
Andhra Pradesh Expressway Limited (Nhai Annuity Receivables) IND AAA 3.31%
Indian Railway Finance Corporation Limited CRISIL AAA 3.26%
IIFL Home Finance Limited ICRA AA 3.15%
Hinduja Leyland Finance Limited CRISIL AA- 3.14%
Name Of Instrument
Rating/Industry
% to Net
Assets

Aadhar Housing Finance Limited CARE AA 2.82%
Indostar Capital Finance Limited CARE AA- 2.79%
Oriental Nagpur Betul Highway Limited (Nhai Annuity Receivables) CRISIL AAA 2.77%
Tata Power Renewable Energy Limited (Corporate guarantee of Tata Power Company Ltd) CARE AA (CE) 2.13%
National Bank for Agriculture & Rural Development ICRA AAA 1.81%
National Highways Authority of India CRISIL AAA 1.81%
Kudgi Transmission Limited (Fixed pooled transmission charges collected by PGCIL) ICRA AAA 0.85%
HPCL-Mittal Energy Limited (Long term take or pay agreement with HPCL) ICRA AA+ 0.62%
Amba River Coke Limited (Subsidiary of JSW Steel Ltd) CARE AA- 0.37%
Tata Steel Limited BWR AA 0.33%
Reliance Broadcast Network Limited (Letter of Comfort/DSRA Guarantee of Reliance Capital) CARE D (LT) 0.29%
Dewan Housing Finance Corporation Limited CARE D (LT) 0.00%
Total 88.84%
Others
Tri Party Repo Dealing System (TREPS)/Reverse Repo 4.27%
Net Receivable/Payable 5.03%
Net Assets 100.00%
Average Maturity 2.75 years
Modified Duration 1.86 years
YTM 9.21%




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 regular returns and capital appreciation by investing predominantly in AA and below rated corporate bonds, debt, government securities and money market instruments.
Exit Load:If the units redeemed or switched out are upto 10% of the units purchased or switched in (“the limit”) within 1 year from the date of allotment – Nil. If units redeemed or switched out are over and above the limit within 1 year from the date of allotment – 1%. If units are redeemed or switched out on or after 1 year from the date of allotment – Nil.
For details of expenses charged to Retail Plan (subscriptions under which are not accepted w.e.f. October 01, 2012), please refer to the respective fund page under “Our Funds” on our website
www.ltfs.com
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'

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