The headline index has scaled a new high recently. However, the broad market has underperformed the large cap index over the past two years.The index has been kept buoyant by a supportive global macro environment, with key markets such as US doing extremely well and improving flows, from foreign institutional investors, given the expected earnings boost from corporate tax cuts announced by the government.
L&T Mutual Fund has launched an integrated digital campaign called ‘‘Late Lateef’ that reiterates the importance of early planning in ELSS for not only tax saving but also wealth creation. The idea of the campaign is to connect with the masses through the portrayal of the universal habit of procrastination in everyday life and the snowball effects of delaying important tasks.
It is that time of the year when investors rush to beat the deadline of furnishing proof of their tax saving investments to their employers. Investors usually start thinking about taxes after December and in the process put themselves under the pressure of garnering enough savings to make these tax saving investments.
The Board of L&T Mutual Fund Trustee Limited, Trustee to L&T Mutual Fund, has approved the change in name of L&T Cash Fund, an open ended debt scheme investing in overnight securities (“the Scheme”), with effect from February 01, 2020 (“Effective date”).
Effective January 14, 2020, 7 date of the month will be inserted in addition to the existing dates for applicable frequencies as offered to Investors under SIP, SWP and STP.
This is in line with SEBI circular No. SEBI/HO/IMD/DF3/CIR/P/2019/166 dated December 24, 2019, regarding investments in units of Mutual Fund in the name of Minor. In this regard, we would like to inform you the following changes with respect to investments in the name of Minor would be implemented shortly:
In view of the above changes that would be implemented, we request you to review the investments done in the name of a minor under your ARN code and update the bank details accordingly.
In order to update the bank details, please advice your customers to submit a duly completed service request form with the required documents to any of the nearest AMC branch offices or CAMS Investor Service Centre’s.
In case the bank details registered for these investments already belong to the minor or is a joint holding with the guardian, no further action is required.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.