L&T Mutual Fund
L&T Mutual Fund

L&T Monthly Income Plan

L&T MIP - Fund Facts
Fund objective
The primary investment objective is to generate monthly income through investments in a range of Debt, Equity and Money Market Instruments. Income will be distributed only if the same is earned by the scheme and there can be no assurance that the objective of the scheme will be realized.
Inception date
July 31, 2003
Fund Managers
Mr. Venugopal Manghat and Mr. Jalpan Shah
Benchmark index
CRISIL MIP Blended Fund Index
SIP availability
SIP is available in L&T Monthly Income Plan. The frequency for installments shall be monthly on the 1st/ 5th/ 10th / 15th / 20th or 25th of the month (28th for the month of February) and on the next Business Day if it happens to be a non business day.
Options
Dividend (Payout and Reinvestment)
1. Monthly Dividend
2. Quarterly Dividend
3. Growth
All Plans/ Options have a common portfolio.
Minimum Investment
Dividend: A minimum of Rs. 10,000/- per application and in multiples of Re. 1/- thereafter Cumulative: A minimum of Rs. 5000/- per application and in multiples of Re. 1/- thereafter
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 NAV)
If the units redeemed or switched-out are upto 10% of the units (the limit) purchased or switched within 1 year from the date of allotment Nil
If units redeemed or switched out 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

A switch-out or a withdrawal under SWP may also attract an 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 respect of redemption/switch out of
(i) Units allotted on account of dividend re-investments; and
(ii) Units issued by way of bonus, if any.

Annual Recurring Expenses (As on 18th February, 2017)
2.43%
Annual Recurring Expenses for Direct Plan (As on 18th February, 2017)
1.83%
Note:
The above ratio includes 20 bps of additional expenses.
Apart from the above-mentioned expenses, additional expenses of up to 0.30% of daily net assets of the scheme, in compliance with the conditions prescribed and service tax on investment management fees are also being charged.
Dividend History
Click here to view dividend history.
L&T MIP - Overview
Want to generate regular income? Choose the L&T Monthly Income Plan. The fund predominantly invests in debt and money market instruments with a small portion (upto 20%) in equity securities for capital appreciation. This ensures a balance between stability, liquidity and return on investments.
L&T MIP - Key Benefits
Moderate risk appetite - Investors who are looking for safety of debt with a marginal exposure of equities on their investment can consider this fund in their portfolio.

The overall portfolio structuring would be aimed at controlling risks at moderate level.

Exposure to quality rated debt papers, ensuring higher safety.

The Scheme actively manages its duration for Debt portion.
L&T MIP - Features
Investment Style Details
Scheme Classification
An Open Ended Income Scheme with no assured returns. Monthly Income is not assured & is subject to the availability of distributable surplus.
Investment Objective
The primary investment objective is to generate monthly income through investments in a range of Debt, Equity and Money Market Instruments. Income will be distributed only if the same is earned by the scheme and there can be no assurance that the objective of the scheme will be realized.
This product is suitable for investors who are seeking*
  • Generation of monthly income over medium to long term
  • Investment in debt, equity and money market instruments
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Normal Asset Allocation
Debt, Money Markets & Government Securities (including cash/call money) 80 to 100%
Equity & Equity related instruments 0 to 20%
Securitised Debt 0 to 40%

Terms of issue
Minimum purchase amount Dividend: A minimum of Rs. 10,000/- per application and in multiples of Re. 1/- thereafter Cumulative: A minimum of Rs. 5000/- per application and in multiples of Re. 1/- thereafter
Minimum additional purchase amount Dividend and Cumulative:
A minimum of Rs. 1,000/- per application and in multiples of Re. 1/- thereafter
Minimum redemption amount/units A minimum of Rs. 500/- per application or 50 units.

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 NAV)
If the units redeemed or switched-out are upto 10% of the units (the limit) purchased or switched within 1 year from the date of allotment Nil
If units redeemed or switched out 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

A switch-out or a withdrawal under SWP may also attract an 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 respect of redemption/switch out of
(i) Units allotted on account of dividend re-investments; 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 / 1800 180 8000". 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 MIP - 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 MIP, 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 MIP - Downloads