L&T Mutual Fund
L&T Mutual Fund

L&T Floating Rate Fund

L&T Floating Rate Fund - Fund Facts
Fund objective
The primary objective of the scheme is to generate regular income through investment in a portfolio comprising substantially of floating rate debt/ money market instruments, fixed rate debt / money market instruments swapped for floating rate returns, and fixed rated debt securities, government securities and money market instruments.
Inception date
October 27, 2010 The scheme was earlier known as L&T Short Term Floating Rate Fund & was renamed as L&T Floating Rate Fund w.e.f. October 27, 2010.
The Scheme has been repositioned as L&T Floating rate fund w.e.f. October 27, 2010
Fund Managers
Mr. Shriram Ramanathan
Benchmark index
CRISIL Liquid Fund Index
SIP availability
Yes
Options
- Dividend
1. Daily Dividend
2. Weekly Dividend
3. Monthly Dividend
Under daily and weekly dividend facility the dividend amount will compulsorily be reinvested. In case of monthly dividend facility, unless opted for dividend payout, the dividend amount will compulsorily be reinvested.
- Cumulative
All Plans/ Options have a common portfolio.
Minimum Investment
A minimum of Rs. 10,000/- per application and in multiples of Re. 1/- thereafter under both Dividend and Cumulative Option
Lump sum
Initial Investment: Rs.10,000 and in multiples of Re. 1/- thereafter
SIP
Minimum installment amount: Rs. 1,000
Minimum no. of installments: Monthly - 6 | Quarterly - 4
Minimum aggregate investment amount: Rs. 6,000
All the above three conditions are to be jointly fulfilled.
Entry Load
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.
Exit Load

For Redemption Load (% of Applicable Net Asset Value )
Within 60 days from the date of allotment or Purchase applying First in First out basis. 0.5
After 60 days from the date of allotment or Purchase applying First in First out basis NIL

A switch-out or a withdrawal under SWP or a transfer under STP (except a switch-out or a transfer under STP into any of the Equity Schemes or fund of fund schemes) may also attract and Exit Load like any Redemption.

No Exit Load will be chargeable in case of (i) Units allotted on account of dividend reinvestments; and (ii) Units issued by way of bonus, if any.

Annual Recurring Expenses (w.e.f 31st March, 2017)
0.72%
Annual Recurring Expenses for Direct Plan (w.e.f 31st March, 2017)
0.29%
Dividend History
Click here to view dividend history.
L&T Floating Rate Fund - Overview
The L&T Floating Rate Fund is an open ended pure income fund which aims to generate regular and stable income for the unit holders of the scheme. The corpus of the scheme would be invested primarily in floating rate securities and money market instruments.

The scheme would invest predominantly in top rated securities with relatively low marked to market risk.
L&T Floating Rate Fund - Key Benefits

The fund invests primarily in floating rate securities and money market instruments.

This fund endeavours to invest in quality instruments with relatively low marked to market risk.

L&T Floating Rate Fund - Features
Investment Style Details
Scheme Classification
An Open Ended Income Scheme
Investment Objective
The primary objective of the scheme is to generate regular income through investment in a portfolio comprising substantially of floating rate debt/ money market instruments, fixed rate debt / money market instruments swapped for floating rate returns, and fixed rated debt securities, government securities and money market instruments.
This product is suitable for investors who are seeking*
  • Generation of regular income over short to medium term
  • Investment substantially in floating rate debt/money market instruments, fixed rate debt/money market instruments swapped for floating rate returns, and fixed rated debt securities, Government securities and money market instruments

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Normal Asset Allocation
Floating Rate Securities and Money Market Instruments 65% - 100%
Debt Instruments including Floating Rate Securities 0% - 35%
Terms of issue
Minimum purchase amount A minimum of Rs. 10,000/- per application and in multiples of Re. 1/- thereafter under both Dividend and Cumulative Option
Minimum additional purchase amount A minimum of Rs.1,000/- per application and in multiples of Re. 1/- thereafter under both Dividend and Cumulative Option
Minimum redemption amount/units A minimum of Rs. 500/- per application or 50 units both Dividend and Cumulative Option
Statutory
L&T Mutual Fund has been established as a trust under the Indian Trust Act, 1882 by L&T Finance Holdings 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 lnvestment Management Limited as the Investment Manager.
Loads
Entry
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.
Exit
For Redemption Load (% of Applicable Net Asset Value )
Within 60 days from the date of allotment or Purchase applying First in First out basis. 0.5
After 60 days from the date of allotment or Purchase applying First in First out basis NIL

A switch-out or a withdrawal under SWP or a transfer under STP (except a switch-out or a transfer under STP into any of the Equity Schemes or fund of fund schemes) may also attract and Exit Load like any Redemption.

No Exit Load will be chargeable in case of switches made between different options of the Scheme.

No Exit Load will be chargeable in case of (i) Units allotted on account of dividend reinvestments; and (ii) Units issued by way of bonus, if any.

General Services

Investors can contact any of the ISCs at its toll-free number " 1800 2000 400 ". NAVs will be calculated and published on all Business Days. Purchase/Redemption on all Business Days.

Risk factors
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
L&T Floating Rate Fund - How to Invest
To invest online

Click here to invest online instantly*.

In case you require any more information on investing in the L&T Floating Rate Fund, please call our toll-free Investor Line on 1800 2000 400 between 9am to 6pm on any business day.
To invest offline

Click here to download the KIM and Application form.
Or
Contact your Relationship Manager at your bank, your adviser or your distributor for an application form.
L&T Floating Rate Fund - Downloads