• Media Update
  • Service Update

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.



This should get your clients to stop procrastinating on tax saving

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.



Ask your clients not to be ‘Late Lateef’ in investing in ELSS

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.


Change in name of L&T Cash Fund

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”).



New addition of SIP 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.



Investments in the name of a minor

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:

  • Payment for investment by means of Cheque, Demand Draft or any other mode shall only be accepted from the bank account of the minor or from a joint account where the minor is one of the holders with the guardian.
  • Pay-out for redemption processed in minor folios, can be credited only into the bank account of the minor or to a joint account where minor is one of the holder. If in case any other bank account is registered in the folio, which is not in the name of the minor or if minor is not part of the account with the guardian, change of pay-out bank mandate would be insisted and only post registration of the minor account redemption would be processed.
  • Once the minor attains the status of a major, then the individual is required to complete necessary KYC formalities and update their bank account details to enable the change of status in folio from minor to major.
  • No further transactions will be allowed till such time the status of the folio is changed from minor to major.

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.



Disclaimer – This document is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing.


Mutual Fund investments are subject to market risks, read all scheme related documents carefully.