L&t tax saver fund application form

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L&T Tax Saver Fund Application Form

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L&t tax saver fund application form

  1. 1. Combined Key Information Memorandum andCombined Application Form for Equity Schemes Offer of Units at NAV based prices Equity Schemes L&T Growth Fund L&T Midcap Fund L&T Opportunities Fund L&T Multi-Cap Fund L&T Global Advantage Fund L&T Contra Fund L&T Tax Saver Fund L&T Hedged Equity Fund L&T Infrastructure Fund L&T Small Cap Fund SPONSOR INVESTMENT MANAGER L&T Finance Limited L&T Investment Management Limited Registered Office: L&T House, Ballard Estate, P.O. Box 278, Mumbai - 400 001 Registered Office:* ‘Dare House’, No. 2, N S C Bose Road, Chennai - 600 001 TRUSTEE Head Office:* L&T Mutual Fund Trustee Limited 309, 3rd Floor, Trade Centre, Bandra Kurla Complex, Registered Office: L&T House, Ballard Estate, P.O. Box 278, Mumbai - 400 001 Bandra (East), Mumbai - 400 051. *Consequent to the change in controlling interest of the AMC, its registered office shall be shifted from the State of Tamil Nadu to the State of Maharashtra, upon receipt of requisite approvals. The registered office shall be shifted to L&T House, Ballard Estate, P.O. Box 278, Mumbai – 400 001. This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to know before investing. For further details of the Scheme / Mutual Fund, Due Diligence Certificate by the AMC, Key Personnel, Investors’ Rights & Services, Risk Factors, Penalties & Pending Litigations, Associate Transactions etc. investors should, before investment, refer to the Statement of Additional Information available free of cost at any of the Investor Service Centre or distributors or from the website www.lntmf.com The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended till date, and filed with Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of this KIM. Investors are advised to consult their Legal, Tax, Finance and other Professional Advisors before making decision to invest in or redeem the units in regard to tax / legal issues relating to their investments in the Scheme(s) / Plan(s). The date of this Key information Memorandum is April 19, 2011.
  2. 2. Name of Scheme L&T Growth Fund L&T Midcap FundNature of Scheme An Open Ended Growth Fund An Open Ended Equity SchemeInvestment Objective The Scheme primarily seeks to generate long term capital appreciation To generate capital appreciation by investing primarily in midcap income through investment in equity and equity related instruments; stocks. The scheme will invest in companies whose market the secondary objective is to generate some current income and capitalization falls between the highest and the lowest constituent of distribute dividend. However there is no assurance that the investment the CNX Midcap Index. objective of the Scheme will be achieved.Asset Allocation Pattern of the Type of Instrument Normal Allocation Type of Instrument Normal AllocationScheme (% of Net Assets) (% of Net Assets) Equity and Equity related 80-100 Equity and Equity related instruments 80-100 instruments Debt Securities, Money Market 0-20 Debt Securities, Securitised Debt, 0-20 instruments (including cash / call Money Market instruments (including money) cash / call money)Risk Profile of the Scheme (Mutual Fund investments are subject to market risks. Please read the Scheme Information Document and Statement of Additional Information carefully for details on risk factors before investment). Also, please refer to page 11 for the summarized Scheme Specific Risk Factors under “Information Common to Schemes”.Plans and Options Options* Facility Options* Facility Dividend Payout and Reinvestment** Dividend Payout and Reinvestment** Cumulative NIL Cumulative NIL * If no option is specified at the time of application, the default * If no option is specified at the time of application, the default option is Cumulative Option. option is Cumulative Option. ** If no facility is specified the default facility is dividend ** If no facility is specified the default facility is dividend re-investment re-investmentApplicable NAV The applicable NAV for purchase or redemption or switching of units will be based on the time of the Business Day on which the application is accepted. Please refer to “Applicable NAV and Cut off time“ on Page No. 11 for further details.Minimum Application/ Purchase / Options Minimum Amount/Units Purchase / Options Minimum Amount/UnitsRepurchase Amount Repurchase Repurchase First Purchase Dividend / Rs.5,000 and in multiples of Re. First Purchase Dividend / Rs. 5,000 and in multiples of Cumulative 1/- thereafter Cumulative Re. 1/- thereafter Additional Dividend / Rs.1,000 and in multiples of Re. Additional Dividend / Rs. 1,000 and in multiples of Purchase Cumulative 1/- thereafter Purchase Cumulative Re. 1/- thereafter Repurchase Dividend / Rs.500 or 50 units as the case Repurchase Dividend / Rs. 500 or 50 units as the case Cumulative may be Cumulative may beDespatch of Repurchase Within 10 working days of the receipt of the valid redemption request at the Investor Service Centres / Registrar or at the offices of the AMC(Redemption) requestBenchmark Index S&P CNX Nifty CNX Midcap Index Disclaimer: L&T Growth Fund, which is benchmarked to S&P CNX Disclaimer: L&T Midcap Fund, which is benchmarked to CNX Midcap Nifty is not sponsored, endorsed, sold or promoted by India Services Index is not sponsored, endorsed, sold or promoted by India Services & Products Limited (IISL). IISL is not responsible for any errors or & Products Limited (IISL). IISL is not responsible for any errors or omissions or the results obtained from the use of such index and in omissions or the results obtained from the use of such index and in no event shall IISL have any liability to any party for any damages or no event shall IISL have any liability to any party for any damages or whatsoever nature (including lost profits) resulted to such party due whatsoever nature (including lost profits) resulted to such party due to purchase or sale or otherwise of such product benchmarked to to purchase or sale or otherwise of such product benchmarked to such index. such index.Dividend Policy Please refer to Page No. 11 for details Please refer to Page No. 11 for detailsName of the Fund Manager Mr. Pankaj Gupta Mr. Anant Deep KatareName of the Trustee Company L&T Mutual Fund Trustee Limited L&T Mutual Fund Trustee LimitedPerformance of the Scheme Returns Data Returns Data(As at March 31, 2011) Compounded Annualised Scheme Benchmark Compounded Annualised Scheme Benchmark Returns Returns % Returns %* Returns Returns % Returns %* For the Last 1 year 12.63 11.14 For the Last 1 year 5.13 4.35 For the Last 3 years 5.49 7.21 For the Last 3 years 10.90 8.81 For the Last 5 years 8.38 11.38 For the Last 5 years 9.79 10.92 Since Inception (17/09/2001) 24.40 22.04 Since Inception (09/08/2004) 22.81 22.24 *S&P CNX Nifty is the Benchmark index for the Scheme. * CNX Midcap Index is the Benchmark index for the Scheme. (Calculations based on cumulative NAV) (Calculations based on cumulative NAV) Year-wise returns for the last 5 financial years Year-wise returns for the last 5 financial years 160 160 Scheme Returns Benchmark Returns 140.94 140 140 126.12 Scheme Returns Benchmark Returns 120 120 100 84.57 100 80 73.76 80 60 60 40 23.89 40 28.67 20 12.63 11.40 14.81 10.95 12.31 17.52 20 5.13 4.35 0 0 -0.45 1.31 -20 -36.19 -20 -40 -43.52 -46.15 -45.40 -40 -60 -60 2010-11 2009-10 2008-09 2007-08 2006-07 2010-11 2009-10 2008-09 2007-08 2006-07 Past Performance may or may not be sustained in future. Past Performance may or may not be sustained in future.Expenses of the Scheme Continuous Offer Period Continuous Offer Period 2 2
  3. 3. (i) Load Structure Entry Load (including SIP/STP/DIP): NIL In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor. Investment Exit Load (including SIP/STP/SWP/DIP) Investment Exit Load (including SIP/STP/SWP/DIP) For all 1.00% if redeemed <= 1 year For all 1.00% if redeemed <= 1 year investments NIL if redeemed > 1 year investments NIL if redeemed > 1 year Pursuant to SEBI circular no. SEBI / IMD / CIR No. 6 /172445/ 2009 dated August 7, 2009 and SEBI / IMD / CIR No. 7 /173650 / 2009 dated August 17, 2009, the Scheme shall not be permitted to make distinction between unitholders by charging differential exit loads based on the amount of subscription and such parity shall be made applicable at the portfolio level respectively.(ii) Actual Expenses for 2010-11 Actual expenses for the scheme were Rs. 41.93 lacs amounting to Actual expenses for the scheme were Rs. 109.90 lacs amounting to 2.50% of Average Daily Net Assets for the financial year 2010-11 2.50% of Average Daily Net Assets for the financial year 2010-11(iii) Recurring Expenses (% of Net Assets % of daily Average Net Assets Net Assets % of daily Average Net Assetsdaily Average Net Assets) First Rs. 100 crores 2.50 First Rs. 100 crores 2.50 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.00 Next Rs. 300 crores 2.00 Balance 1.75 Balance 1.75 The AMC would update the current expense ratios on the website within two working days mentioning the effective date of the change.Tax Treatment for the Investors Investors are advised to refer the details on page no. 12 of this document or refer Statement of Additional Information. Investors are also(Unitholders) advised to independently consult their tax advisor.Daily Net Asset Value (NAV) Please refer to page 13 under “Information Common to Schemes”.PublicationFor investor Grievances please Please refer to page 13 under “Information Common to Schemes”.contactUnitholder’s Information Please refer to page 14 under “Information Common to Schemes”.Name of Scheme L&T Opportunities Fund L&T Multi-Cap FundNature of Scheme An Open Ended Growth Fund An Open Ended Equity SchemeInvestment Objective The Scheme will invest mainly to generate long term capital appreciation To provide long term capital appreciation by investing in a well- from a diversified portfolio of equity and equity related securities. The diversified portfolio of equity & equity related instruments across all fund will invest in a universe of stocks, which will be identified using ranges of market capitalisation. fundamental analysis. The fund will invest in a portfolio of both value and growth stocks. The strategy will be to build up diversified portfolio of quality stocks, with medium to long term potentialAsset Allocation Pattern of the Type of Instrument Normal Allocation (% of Net Type of Instrument Normal Allocation (% of NetScheme Assets) Assets) Equity and Equity related 80-100 Equity and Equity related 80-100 of which instruments instruments • Large Cap Stocks (25-75) Debt Securities, Money Market 0-20 • Midcap Stock (25-75) instruments (including cash / call • Small Cap Stocks (0-15) money) Money Market Instruments 0-20Risk Profile of the Scheme (Mutual Fund investments are subject to market risks. Please read the Scheme Information Document and Statement of Additional Information carefully for details on risk factors before investment). Also, please refer to page 11 for the summarized Scheme Specific Risk Factors under “Information Common to Schemes”.Plans and Options Options* Facility Options* Facility Dividend Payout and Reinvestment** Dividend Payout and Reinvestment** Cumulative NIL Cumulative NIL * If no option is specified at the time of application, the default option * If no option is specified at the time of application, the default is Cumulative Option. option is Cumulative Option. ** If no facility is specified the default facility is dividend re-investment ** If no facility is specified the default facility is dividend re-investmentApplicable NAV The applicable NAV for purchase or redemption or switching of units will be based on the time of the Business Day on which the application is accepted. Please refer to “Applicable NAV and Cut off time“ on Page No. 11 for further details.Minimum Application/Repurchase Purchase / Repurchase Options Minimum Amount/Units Purchase / Repurchase Options Minimum Amount /UnitsAmount First Purchase Dividend / Cumulative Rs. 3,000 and in multiples of Re. 1/- thereafter First Purchase Dividend / Cumulative Rs. 5,000 and in multiples of Re. 1/- thereafter Additional Purchase Dividend / Cumulative Rs. 1,000 and in multiples of Re. 1/- thereafter Additional Purchase Dividend / Cumulative Rs. 1,000 and in multiples of Re. 1/- thereafter Repurchase Dividend / Cumulative Rs. 500 or 50 units as the case may be Repurchase Dividend / Cumulative Rs. 500 or 50 units as the case may beDespatch of Repurchase (Redemption) Within 10 working days of the receipt of the valid redemption request at the Investor Service Centres / Registrar or at the offices of the AMCrequestBenchmark Index S&P CNX Nifty S&P CNX 500 Disclaimer : L&T Opporutnities Fund, which is benchmarked to S&P Disclaimer : L&T Multi-cap Fund, which is benchmarked to S&P CNX CNX Nifty is not sponsored, endorsed, sold or promoted by India 500 Index is not sponsored, endorsed, sold or promoted by India Services & Products Limited (IISL). IISL is not responsible for any errors Services & Products Limited (IISL). IISL is not responsible for any errors or omissions or the results obtained from the use of such index and in or omissions or the results obtained from the use of such index and in no event shall IISL have any liability to any party for any damages or no event shall IISL have any liability to any party for any damages or whatsoever nature (including lost profits) resulted to such party due to whatsoever nature (including lost profits) resulted to such party due to purchase or sale or otherwise of such product benchmarked to such purchase or sale or otherwise of such product benchmarked to such index. index.Dividend Policy Please refer to Page No. 11 for details Please refer to Page No. 11 for detailsName of the Fund Manager Mr. Pankaj Gupta Mr. Anant Deep KatareName of the Trustee Company L&T Mutual Fund Trustee Limited L&T Mutual Fund Trustee Limited 3 3
  4. 4. Performance of the Scheme Returns Data Returns Data(As at March 31, 2011) Compounded Annualised Scheme Returns Benchmark Returns Compounded Annualised Scheme Benchmark Returns % %* Returns Returns % Returns %* For the Last 1 year 3.71 11.14 For the Last 1 year 4.16 7.26 For the Last 3 years 5.14 7.21 For the Last 3 years 2.41 6.54 For the Last 5 years 15.26 11.38 For the Last 5 years 1.84 9.71 Since Inception 20.07 18.43 Since Inception 10.52 16.47 (11/12/2003)** (28/01/2005) *S&P CNX Nifty is the Benchmark index for the Scheme. *S&P CNX 500 is the Benchmark index for the Scheme. (Calculations **The scheme was repostioned as L&T Opportunities Fund on 11th based on cumulative NAV) Dec. 2003. (Calculations based on cumulative NAV) Year-wise returns for the last 5 financial years Year-wise returns for the last 5 financial years 160 160 140 Scheme Returns Benchmark Returns 140 120 Scheme Returns Benchmark Returns 100 120 111.32 87.17 87.95 100 80 80 73.70 60 60 40 43.87 20 4.16 7.26 8.07 40 23.89 21.73 0.12 1.64 1.89 20 11.14 0 3.71 12.31 0 -20 -40 -44.90 -40.02 -20 -40 -46.97 -36.19 -60 2010-11 2009-10 2008-09 2007-08 2006-07 -60 2010-11 2009-10 2008-09 2007-08 2006-07 Past Performance may or may not be sustained in future. Past Performance may or may not be sustained in future.Expenses of the Scheme Continuous Offer Period Continuous Offer Period(i) Load Structure Entry Load (including SIP/STP/DIP): NIL In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor. Investment Exit Load (including SIP/STP/SWP/DIP) Investment Exit Load (including SIP/STP/SWP/DIP) For all investments 1.00% if redeemed <= 1 year For all investments 1.00% if redeemed <= 1 year NIL if redeemed > 1 year NIL if redeemed > 1 year Pursuant to SEBI circular no. SEBI / IMD / CIR No. 6 /172445/ 2009 dated August 7, 2009 and SEBI / IMD / CIR No. 7 /173650 / 2009 dated August 17, 2009, the Scheme shall not be permitted to make distinction between unitholders by charging differential exit loads based on the amount of subscription and such parity shall be made applicable at the portfolio level respectively.(ii) Actual Expenses for 2010-11 Actual expenses for the scheme were Rs. 182.33 lacs amounting to Actual expenses for the scheme were Rs. 46.99 lacs amounting to 2.50% of Average Daily Net Assets for the financial year 2010-11 2.50% of Average Daily Net Assets for the financial year 2010-11(iii) Recurring Expenses (% of daily Net Assets % of daily Average Net Assets Net Assets % of daily Average Net AssetsAverage Net Assets) First Rs. 100 crores 2.50 First Rs. 100 crores 2.50 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.00 Next Rs. 300 crores 2.00 Balance 1.75 Balance 1.75 The AMC would update the current expense ratios on the website within two working days mentioning the effective date of the change.Tax Treatment for the Investors Investors are advised to refer the details on page no. 12 of this document or refer Statement of Additional Information. Investors are also(Unitholders) advised to independently consult their tax advisor.Daily Net Asset Value (NAV) Please refer to page 13 under “Information Common to Schemes”.PublicationFor investor Grievances please Please refer to page 13 under “Information Common to Schemes”.contactUnitholder’s Information Please refer to page 14 under “Information Common to Schemes”.Name of Scheme L&T Global Advantage Fund L&T Contra FundNature of Scheme An Open Ended Equity Scheme An Open Ended Equity SchemeInvestment Objective To provide long term capital appreciation and / or income distribution by investing To generate capital appreciation by investing in equity and equity related instruments by predominantly in equity / equity related instruments of Indian companies with export using a ‘contrarian strategy’. Contrarian investing refers to buying into fundamentally competitiveness and Indian companies which have or which are expanding their business sound scripts which have underperformed / not performed to their full potential in their in global markets. recent past.Asset Allocation Pattern of the Type of Instrument Normal Allocation (% of Net Assets) Type of Instrument Normal Allocation (% of Net Assets)Scheme Equity and Equity related 80-100 Equity and Equity related 65-100 instruments # instruments Debt Money Market 0-20 Debt, Money Market 0-35 instruments* instruments* #including investments in ADR / GDR upto 25% (subject to maximum # including investments in ADR / GDR upto 25% (subject to maximum of US$ 50 million such limits as specified by SEBI from time to time), of US$ 50 million as specified by SEBI), exposure in derivatives upto a exposure in derivatives upto a maximum of 25% (subject to limit as maximum of 25% (subject to limit as specified by SEBI from time to specified by SEBI from time to time). time). At the time of investment, investments in derivative instruments *Investment in Securitised debt, if undertaken, would not exceed 20% may be done for hedging and portfolio balancing. of the net assets of the Scheme. *Investment in Securitised debt, if undertaken, would not exceed 30% A maximum of 40% of net assets may be deployed in securities lending of the net assets of the Scheme. and the maximum single party exposure may be restricted to 10% of net A maximum of 40% of net assets may be deployed in securities lending assets outstanding at any point of time. and the maximum single party exposure may be restricted to 10% of net assets outstanding at any point of time.Risk Profile of the Scheme (Mutual Fund investments are subject to market risks. Please read the Scheme Information Document and Statement of Additional Information carefully for details on risk factors before investment). Also, please refer to page 11 for the summarized Scheme Specific Risk Factors under “Information Common to SchemesPlans and Options Options* Facility Options* Facility Dividend Payout and Reinvestment** Dividend Payout and Reinvestment** Cumulative NIL Cumulative NIL * If no option is specified at the time of application, the default option * If no option is specified at the time of application, the default option is Cumulative Option. is Cumulative Option. ** If no facility is specified the default facility is dividend re-investment ** If no facility is specified the default facility is dividend re-investmentApplicable NAV The applicable NAV for purchase or redemption or switching of units will be based on the time of the Business Day on which the application is accepted. Please refer to “Applicable NAV and Cut off time“ on Page No. 11 for further details. 4 4
  5. 5. Minimum Application/Repurchase Amount Purchase / Options Minimum Amount /Units Purchase / Options Minimum Amount /Units Repurchase Repurchase First Purchase Dividend / Rs. 5,000 and in multiples of Re. First Purchase Dividend / Rs. 5,000 and in multiples of Re. Cumulative 1/- thereafter Cumulative 1/- thereafter Additional Dividend / Rs. 1,000 and in multiples of Re. Additional Dividend / Rs. 1,000 and in multiples of Re. Purchase Cumulative 1/- thereafter Purchase Cumulative 1/- thereafter Repurchase Dividend / Rs. 500 or 50 units as the case Repurchase Dividend / Rs. 500 or 50 units as the case Cumulative may be Cumulative may beDespatch of Repurchase (Redemption) request Within 10 working days of the receipt of the valid redemption request at the Investor Service Centres / Registrar or at the offices of the AMCBenchmark Index S&P CNX 500 S&P CNX 500 Disclaimer : L&T Global Advantage Fund, which is benchmarked to Disclaimer : L&T Contra Fund, which is benchmarked to S&P CNX S&P CNX 500 is not sponsored, endorsed, sold or promoted by India 500 is not sponsored, endorsed, sold or promoted by India Services & Services & Products Limited (IISL). IISL is not responsible for any errors Products Limited (IISL). IISL is not responsible for any errors or omissions or omissions or the results obtained from the use of such index and in or the results obtained from the use of such index and in no event no event shall IISL have any liability to any party for any damages or shall IISL have any liability to any party for any damages or whatsoever whatsoever nature (including lost profits) resulted to such party due to nature (including lost profits) resulted to such party due to purchase or purchase or sale or otherwise of such product benchmarked to such sale or otherwise of such product benchmarked to such index. index.Dividend Policy Please refer to Page No. 11 for details Please refer to Page No. 11 for detailsName of the Fund Manager Mr. Pankaj Gupta Mr. Pankaj GuptaName of the Trustee Company L&T Mutual Fund Trustee Limited L&T Mutual Fund Trustee LimitedPerformance of the Scheme Returns Data Returns Data(As at March 31, 2011) Compounded Annualised Scheme Benchmark Compounded Annualised Scheme Returns Benchmark Returns Returns % Returns %* Returns % Returns %* For the Last 1 year -1.78 7.26 For the Last 1 year 6.64 7.26 For the Last 3 years 0.00# 6.54 For the Last 3 years -7.32 6.54 For the Last 5 years 0.00# 9.71 For the Last 5 years -7.19 9.71 Since Inception (27/02/2006) 0.85 11.48 Since Inception (30/05/2005) -0.14 17.34 *S&P CNX 500 is the Benchmark index for the Scheme. (Calculations *S&P CNX 500 is the Benchmark index for the Scheme. (Calculations based on cumulative NAV) based on cumulative NAV) # No charge in NAV hence returns are Nil. Year-wise returns for the last 5 financial years Year-wise returns for the last 5 financial years 160 160 140 140 Scheme Returns Benchmark Returns Scheme Returns Benchmark Returns 120 120 100 87.95 100 83.33 87.95 80 80 60.57 60 60 40 40 21.64 21.64 20 1.78 7.26 8.07 20 6.64 7.26 8.07 0 -3.93 -9.99 0 -3.15 3.26 -20 -20 -40 -49.52 -40.02 -40 -48.75 -40.02 -60 -60 2010-11 2009-10 2008-09 2007-08 2006-07 2010-11 2009-10 2008-09 2007-08 2006-07 Past Performance may or may not be sustained in future. Past Performance may or may not be sustained in future.Expenses of the Scheme Continuous Offer Period Continuous Offer Period(i) Load Structure Entry Load (including SIP/STP/DIP): NIL In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor. Investment Exit Load (including SIP/STP/SWP/DIP) Investment Exit Load (including SIP/STP/SWP/DIP) For all investments 1.00% if redeemed <= 1 year For all investments 1.00% if redeemed <= 1 year NIL if redeemed > 1 year NIL if redeemed > 1 year Pursuant to SEBI circular no. SEBI / IMD / CIR No. 6 /172445/ 2009 dated August 7, 2009 and SEBI / IMD / CIR No. 7 /173650 / 2009 dated August 17, 2009, the Scheme shall not be permitted to make distinction between unitholders by charging differential exit loads based on the amount of subscription and such parity shall be made applicable at the portfolio level respectively.(ii) Actual Expenses for 2010-11 Actual expenses for the scheme were Rs. 14.15 lacs amounting to Actual expenses for the scheme were Rs. 24.04 lacs amounting to 2.50% of Average Daily Net Assets for the financial year 2010-11 2.50% of Average Daily Net Assets for the financial year 2010-11(iii) Recurring Expenses (% of daily Net Assets % of daily Average Net Assets Net Assets % of daily Average Net AssetsAverage Net Assets) First Rs. 100 crores 2.50 First Rs. 100 crores 2.50 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.00 Next Rs. 300 crores 2.00 Balance 1.75 Balance 1.75 The AMC would update the current expense ratios on the website within two working days mentioning the effective date of the change.Tax Treatment for the Investors Investors are advised to refer the details on page no. 12 of this document or refer Statement of Additional Information. Investors are also(Unitholders) advised to independently consult their tax advisor.Daily Net Asset Value (NAV) Please refer to page 13 under “Information Common to Schemes”.PublicationFor investor Grievances please Please refer to page 13 under “Information Common to Schemes”.contactUnitholder’s Information Please refer to page 14 under “Information Common to Schemes”. 5 5
  6. 6. Name of Scheme L&T Tax Saver Fund L&T Hedged Equity FundNature of Scheme An Open Ended Equity Linked Tax Savings Scheme An Open Ended Equity SchemeInvestment Objective To provide long term capital appreciation by investing predominantly To generate long term capital appreciation by investing in equity, in equity and equity related instruments and also enabling investor to equity related and derivative instruments. The fund seeks to minimize get income tax rebate as per the prevailing Tax Laws and subject to risk by use of hedging instruments such as index and stock derivative applicable conditions instruments. The aim is to generate returns with a lower volatility.Lock-in Period The scheme is open for continuous redemption subject to the Not Applicable completion of a lock-in period of 3 years from the date of allotment as prescribed in the ELSS guidelines. Currently, the tax benefits are restricted to an investment amount of Rs. 1,00,000/-. However, any amount in excess of Rs. 1,00,000/- would also be subject to the lock-in period of 3 years. However, in the event of the death of the assessee, the nominee or legal heir, as the case may be, shall be able to withdraw the investment anytime after the completion of 1 year from the date of allotment of units.Asset Allocation Pattern of the Type of Instrument Normal Allocation (% of Net Type of Instrument Normal Allocation (% of NetScheme Assets) Assets) Equity and Equity related 80-100 Equities and Equity Related 65 - 100 instruments Instruments (including equity Debt* and Money Market 0-20 derivatives instruments) # instruments Debt and Money Market 0 - 35 Instruments* *Investment in Securitised debt, if undertaken, will not exceed 20% of #Investment in equity derivative instruments would not exceed 50% of corpus of the scheme. the net assets of the scheme. A maximum of 40% of net assets may be deployed in securities lending and the maximum single party exposure may be restricted to 10% of net assets outstanding at any point of time. *Investment in Securitised debt, if undertaken, would not exceed 30% of the net assets of the scheme.Risk Profile of the Scheme (Mutual Fund investments are subject to market risks. Please read the Scheme Information Document and Statement of Additional Information carefully for details on risk factors before investment). Also, please refer to page 11 for the summarized Scheme Specific Risk Factors under “Information Common to SchemesPlans and Options Options* Facility Options* Facility Dividend Payout and Reinvestment** Dividend Payout and Reinvestment** Cumulative NIL Cumulative NIL * If no option is specified at the time of application, the default option * If no option is specified at the time of application, the default option is Cumulative Option. is Cumulative Option. ** If no facility is specified the default facility is dividend re-investment ** If no facility is specified the default facility is dividend re-investmentApplicable NAV The applicable NAV for purchase or redemption or switching of units will be based on the time of the Business Day on which the application is accepted. Please refer to “Applicable NAV and Cut off time“ on Page No. 11 for further details.Minimum Application/Repurchase Purchase Options Minimum Amount /Units Purchase / Options Minimum Amount /UnitsAmount Repurchase First Purchase Dividend / Rs. 500 and in multiples of Rs. First Purchase Dividend / Rs. 5,000 and in multiples of Re. Cumulative 500/- thereafter Cumulative 1/- thereafter Additional Dividend / Rs. 500 and in multiples of Rs. Additional Dividend / Rs. 1,000 and in multiples of Re. Purchase Cumulative 500/- thereafter Purchase Cumulative 1/- thereafter Repurchase Dividend / Rs. 500 per application and in Repurchase Dividend / Rs. 500 or 50 units as the case Cumulative multiples of Rs. 500/- Cumulative may beDespatch of Repurchase (Redemption) Within 10 working days of the receipt of the valid redemption request at the Investor Service Centres / Registrar or at the offices of the AMCrequestBenchmark Index S&P CNX Nifty S&P CNX Nifty Disclaimer: L&T Tax Saver Fund, which are benchmarked to S&P CNX Disclaimer: L&T Hedged Equity Fund, which are benchmarked to S&P Nifty is not sponsored, endorsed, sold or promoted by India Services CNX Nifty is not sponsored, endorsed, sold or promoted by India & Products Limited (IISL). IISL is not responsible for any errors or Services & Products Limited (IISL). IISL is not responsible for any errors omissions or the results obtained from the use of such index and in or omissions or the results obtained from the use of such index and no event shall IISL have any liability to any party for any damages or in no event shall IISL have any liability to any party for any damages whatsoever nature (including lost profits) resulted to such party due to or whatsoever nature (including lost profits) resulted to such party purchase or sale or otherwise of such product benchmarked to such due to purchase or sale or otherwise of such product benchmarked index. to such index.Dividend Policy Please refer to Page No. 11 for details Please refer to Page No. 11 for detailsName of the Fund Manager Mr. Anant Deep Katare Mr. Anant Deep KatareName of the Trustee Company L&T Mutual Fund Trustee Limited L&T Mutual Fund Trustee LimitedPerformance of the Scheme Returns Data Returns Data **(As at March 31, 2011) Compounded Scheme Benchmark Compounded Scheme Returns Benchmark Annualised Returns Returns % Returns %* Annualised Returns % Returns %* For the Last 1 year 7.57 11.14 For the Last 1 year 10.78 11.14 For the Last 3 years 7.07 7.21 For the Last 3 years 3.39 7.21 For the Last 5 years 5.96 11.38 Since Inception 9.24 10.04 Since Inception 9.29 16.08 (19/04/2007) (18/11/2005) *S&P CNX Nifty is the Benchmark index for the Scheme. (Calculations *S&P CNX Nifty is the Benchmark index for the Scheme. (Calculations based on cumulative NAV). ** Date of inception is April 19, 2007. based on cumulative NAV) Hence 5 year returns are not available. Year-wise returns for the last 5 financial years Year-wise returns for the last 4 financial years 160 160 140 140 Scheme Returns Benchmark Returns Scheme Returns Benchmark Returns 120 120 105.04 100 100 80 74.15 73.76 80 73.70 60 60 40 40 28.30 23.89 18.43 20 11.14 20 10.78 11.14 7.57 4.43 4.21 12.31 0 0 -20 -20 -44.35 -36.19 -40 -42.71 -36.19 -40 -60 -60 2010-11 2009-10 2008-09 2007-08 2006-07 2010-11 2009-10 2008-09 2007-08 Past Performance may or may not be sustained in future. Past Performance may or may not be sustained in future. 6 6
  7. 7. Expenses of the Scheme Continuous Offer Period Continuous Offer Period(i) Load Structure Entry Load (including SIP/STP/DIP): NIL In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor. Investment Exit Load (including SIP/STP/SWP/DIP) Exit Load (including SIP/STP/SWP/DIP): NIL For all investments 1.00% if redeemed <= 1 year NIL if redeemed > 1 year Pursuant to SEBI circular no. SEBI / IMD / CIR No. 6 /172445/ 2009 dated August 7, 2009 and SEBI / IMD / CIR No. 7 /173650 / 2009 dated August 17, 2009, the Scheme shall not be permitted to make distinction between unitholders by charging differential exit loads based on the amount of subscription and such parity shall be made applicable at the portfolio level respectively.(ii) Actual Expenses for 2010-11 Actual expenses for the scheme were Rs. 75.58 lacs amounting to Actual expenses for the scheme were Rs. 34.46 lacs amounting to 2.50% of Average Daily Net Assets for the financial year 2010-11 2.50% of Average Daily Net Assets for the financial year 2010-11(iii) Recurring Expenses (% of daily Net Assets % of daily Average Net Assets Net Assets % of daily Average Net AssetsAverage Net Assets) First Rs. 100 crores 2.50 First Rs. 100 crores 2.50 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.00 Next Rs. 300 crores 2.00 Balance 1.75 Balance 1.75 The AMC would update the current expense ratios on the website within two working days mentioning the effective date of the change.Tax Treatment for the Investors Investors are advised to refer the details on page no. 12 of this document or refer Statement of Additional Information. Investors are also(Unitholders) advised to independently consult their tax advisor. DEDUCTION FROM INCOME UNDER SECTION 80C L&T Tax Saver Fund, including the Options contained therein, is launched as an Equity Linked Tax Saving Scheme under Section 80C(2) (xiii) of Income Tax Act, 1961. Thus, individuals and HUFs will be entitled to deduction from their Gross Total Income as provided under clause (xiii) of section 80C(2) of the Income Tax Act, 1961 for subscription to any units not exceeding Rs. 1,00,000/- in a year, depending upon the gross total income of the assessee. The deduction is available only if the investment is made out of income chargeable to tax.Daily Net Asset Value (NAV) Please refer to page 13 under “Information Common to Schemes”.PublicationFor investor Grievances please Please refer to page 13 under “Information Common to Schemes”.contactUnitholder’s Information Please refer to page 14 under “Information Common to Schemes”.Name of Scheme L&T Infrastructure Fund L&T Small Cap FundNature of Scheme An Open Ended Equity Scheme An Open Ended Equity SchemeInvestment Objective The scheme seeks to generate capital appreciation by investing To generate long term capital appreciation by investing predominantly in predominantly in equity and equity related instruments of companies equity and equity related instruments of companies with “small market in the infrastructure sector. capitalization”. “Small - cap companies for the purpose of this Fund, are companies whose market capitalization is in between the highest and lowest market capitalization of small-cap companies on BSE Small Cap Index at the time of investment.”Asset Allocation Pattern of the Type of Instrument Normal Allocation Type of Instrument Normal AllocationScheme (% of Net Assets) (% of Net Assets) Equity and equity related instruments 65-100 Equity & equity related instruments of small-cap 65-100 (including equity derivative instruments) companies Debt and Money Market Instruments* 0-35 Equity & equity related instruments of any other 0-35 companies Debt Securities and money market instruments* 0-35 * Investment in Securitized debt, if undertaken, would not exceed 35% * Investment in Securitized debt, if undertaken, would not exceed 35% of the net assets of the scheme. of the net assets of the scheme.Risk Profile of the Scheme (Mutual Fund investments are subject to market risks. Please read the Scheme Information Document and Statement of Additional Information carefully for details on risk factors before investment). Also, please refer to page 11 for the summarized Scheme Specific Risk Factors under “Information Common to Schemes”.Plans and Options Options* Facility Options* Facility Dividend Payout and Reinvestment** Dividend Payout and Reinvestment** Cumulative NIL Cumulative NIL * If no option is specified at the time of application, the default * If no option is specified at the time of application, the default option option is Cumulative Option. is Cumulative Option. ** If no facility is specified the default facility is dividend re- ** If no facility is specified the default facility is dividend re-investment investmentApplicable NAV The applicable NAV for purchase or redemption or switching of units will be based on the time of the Business Day on which the application is accepted. Please refer to “Applicable NAV and Cut off time“ on Page No. 11 for further details.Minimum Application/ Purchase / Options Minimum Amount /Units Purchase / Options Minimum Amount /UnitsRepurchase Amount Repurchase Repurchase First Purchase Dividend / Rs. 5,000 and in multiples of First Purchase Dividend / Rs. 5,000 and in multiples of Re. Cumulative Re. 1/- thereafter Cumulative 1/- thereafter Additional Dividend / Rs. 1,000 and in multiples of Additional Dividend / Rs. 1,000 and in multiples of Re. Purchase Cumulative Re. 1/- thereafter Purchase Cumulative 1/- thereafter Repurchase Dividend / Rs. 500 or 50 units as the case Repurchase Dividend / Rs. 500 or 50 units as the case Cumulative may be Cumulative may beDespatch of Repurchase Within 10 working days of the receipt of the valid redemption request at the Investor Service Centres / Registrar or at the offices of the AMC(Redemption) request 7 7
  8. 8. Benchmark Index S&P CNX Nifty BSE Small Cap Index Disclaimer : L&T Infrastructure Fund, which is benchmarked to S&P CNX Nifty is not sponsored, endorsed, sold or promoted by India Services & Products Limited (IISL). IISL is not responsible for any errors or omissions or the results obtained from the use of such index and in no event shall IISL have any liability to any party for any damages or whatsoever nature (including lost profits) resulted to such party due to purchase or sale or otherwise of such product benchmarked to such index.Dividend Policy Please refer to Page No. 11 for details Please refer to Page No. 11 for detailsName of the Fund Manager Mr. Pankaj Gupta Mr. Anant Deep KatareName of the Trustee Company L&T Mutual Fund Trustee Limited L&T Mutual Fund Trustee LimitedPerformance of the Scheme Returns Data** Returns Data**(As at March 31, 2011) Compounded Annualised Scheme Returns Benchmark Compounded Annualised Scheme Benchmark Returns % Returns %* Returns Returns % Returns %* For the Last 1 year -7.15 12.14 For the Last 1 year -14.88 -3.78 For the Last 3 years -7.93 7.21 For the Last 3 years -9.37 1.40 Since Inception (27/09/2007) -9.41 4.49 Since Inception (10/01/2008) -19.76 -13.11 *S&P CNX Nifty is the Benchmark index for the Scheme. * BSE Small Cap Index is the Benchmark index for the scheme. ** (Calculations based on cumulative NAV) Units allotted on January 10, 2008. Hence, the returns for 5 years is ** Units allotted on September 27, 2007. Hence, the returns for not available. 5 years is not available. Year-wise returns for the last 4 financial years Year-wise returns for the last 4 financial years Scheme Returns Benchmark Returns 160 180 140 161.73 Scheme Returns Benchmark Returns 160 120 140 100 86.45 120 114.07 80 73.76 100 60 80 40 60 20 12.14 -9.40 -5.32 -33.90 -23.10 40 0 -7.15 -14.88 20 -20 0 -3.78 -40 -55.19 -36.19 -20 -60 -40 -59.15 -58.80 2010-11 2009-10 2008-09 2007-08 -60 Past Performance may or may not be sustained in future. 2010-11 2009-10 2008-09 2007-08 Past Performance may or may not be sustained in future.Expenses of the Scheme Continuous Offer Period Continuous Offer Period(i) Load Structure Entry Load (including SIP/STP/DIP): NIL In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor. Investment Exit Load (including SIP/STP/SWP/DIP) Investment Exit Load (including SIP/STP/SWP/DIP) For all investments 1.00% if redeemed <= 1 year For all investments 1.00% if redeemed <= 1 year NIL if redeemed > 1 year NIL if redeemed > 1 year Pursuant to SEBI circular no. SEBI / IMD / CIR No. 6 /172445/ 2009 dated August 7, 2009 and SEBI / IMD / CIR No. 7 /173650 / 2009 dated August 17, 2009, the Scheme shall not be permitted to make distinction between unitholders by charging differential exit loads based on the amount of subscription and such parity shall be made applicable at the portfolio level respectively.(ii) ) Actual Expenses for 2010-11 Actual expenses for the scheme were Rs. 91.92 lacs amounting to Actual expenses for the scheme were Rs. 52.19 lacs amounting to 2.47% 2.49% of Average Daily Net Assets for the financial year 2010-11 of Average Daily Net Assets for the financial year 2010-11(iii) Recurring Expenses (% of Net Assets % of daily Average Net Assets Net Assets % of daily Average Net Assetsdaily Average Net Assets) First Rs. 100 crores 2.50 First Rs. 100 crores 2.50 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.25 Next Rs. 300 crores 2.00 Next Rs. 300 crores 2.00 Balance 1.75 Balance 1.75 The AMC would update the current expense ratios on the website within two working days mentioning the effective date of the change.Tax Treatment for the Investors Investors are advised to refer the details on page no. 12 of this document or refer Statement of Additional Information. Investors are also advised(Unitholders) to independently consult their tax advisor.Daily Net Asset Value (NAV) Please refer to page 13 under “Information Common to Schemes”.PublicationFor investor Grievances please Please refer to page 13 under “Information Common to Schemes”.contactUnitholder’s Information Please refer to page 14 under “Information Common to Schemes”. 8 8

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