L&T Mutual Fund, has declared dividend of 50% on face value of RS 10 per unit in its ‘L&T Tax Advantage Fund’ – Series I Regular Plan – Dividend Payout Option. The record date for the dividend payout is March 22, 2010.The fund was launched on 27th March 2009 and in less than a year it has given the first dividend to its investors.
L&T Tax Advantage Fund - Series I is a 10 years close ended Equity Linked Saving Scheme ,subject to a lock in for a period of three years from the date of allotment.
Pursuant to the payment of dividend, the NAV of the above-mentioned Scheme/Plan/Option will fall to the extent of payout and statutory levy, (if any).
This dividend payout is subject to availability of distributable surplus on the record date.
Statutory Details: L&T Mutual Fund has been established as a trust under the Indian Trust Act, 1882 by L&T Finance 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 Investment Management Limited as the Investment Manager.
Risk Factors: All investments in mutual funds and securities are subject to market risks and the NAV of the Scheme of the Fund may go up or down depending upon the factors and forces affecting the securities market. Investment in mutual fund units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal. Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future performance of the Scheme. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond the initial contribution of Rs. 1 lakh made by it towards setting up the Fund. L&T Tax Advantage Fund - Series I do not in any manner indicate either the quality of the Scheme or its future prospects and returns; and is only the name of the Scheme. There can be no assurance that the objective of the Scheme/Plan/Mutual Fund will be achieved. Scheme specific risk factors: Investment in the Scheme shall be subject to various risks including but not limited to risk associated with: Investment in Equity and Equity related Instruments & Bonds such as Performance Risk, Credit Risk, Reinvestment Risk, Interest Rate Risk, Settlement Risk and etc. Please read the Scheme Information Document and Statement of Additional Information carefully before investing.
Investment objective and classification: L&T Tax Advantage Fund - Series I (a 10 years close ended Equity Linked Saving Scheme, subject to a lock in for a period of three years from date of allotment): To generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities and also enabling investors to get income tax rebate as per the prevailing Tax Laws and subject to applicable conditions.
Terms of Issue: Units of the Scheme are being offered at NAV based prices, subject to the prevailing loads; provided the units can be redeemed only after expiry of lock-in period of 3 years from the date of allotment. The AMC calculates and publishes NAVs and offers for sale, redemption and switch outs, units of the Scheme on all Business Days, at the Applicable NAV of the Scheme.