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A value fund follows the strategy of investing in valuation anomalies, typically caused when

companies experience temporary setbacks that tend to push their stock price down. These could
occur due to short-term adverse movements in some areas of the business, or simply because
some stocks dominate the rest. A value fund manager picks these ignored or unsought stocks that
are believed to be trading at less than their assessed values, and when they bounce back to their
real worth, investors in the fund could stand to gain. But the challenge is finding hidden
potential. And that is where the L&T India Value Fund comes in.

Presenting the L&T India Value Fund


The L&T India Value Fund invests predominantly in undervalued stocks. To seek out potential winners from the
multitude of stocks in the market, we employ a proprietary investment process and dig deep for information. In depth
research includes a scrutiny of balance sheets, cash flows, receivables and risks, tangible and intangible assets, and any
information that is an advantage. We then handpick each stock purely for its core strength so it could add true value to
your portfolio when its true worth is realised.

Key Benefits
• Focus on fundamentals - ensures that the business and not popularity of the stock are what determine its
underlying potential for investors
• Long-term wealth creation - helps investors benefit from long-term performance potential of undervalued
companies
• Invests with a “margin of safety” - helps reduce risk as stocks are generally bought below their intrinsic value
• Allows style diversification - invests in stocks across sectors and market capitalisations with a strong value bias

Indicators to spot Value opportunities


Steady businesses offering Businesses that are likely
steady income streams by to see revival with an improving
way of high dividend yield macro-environment

Higher Cyclically
dividend low
yield earnings
Using appropriate Assessing a company’s intrinsic
valuation metrics to worth by adding up valuations
Embedded
invest in businesses value - EV/tonne,
Sum of of all individual businesses
across sectors parts and subsidiaries
EV/EBITDA,
valuations
Cash Flow/Yield

Attractive
Business valuation
revival based on
growth
Industry
prospects
leader/
growing
Business recovery Businesses that are likely
company gaining
after a prolonged market share to be re-rated on account
underperformance of higher growth

Industry leader or a rapidly growing


company gaining market share
Performance of L&T India Value Fund Vs. Benchmarks1

CAGR Returns (%) (Period) Since Inception


1 year 3 year 5 year Date of CAGR PTP Returns3
Inception of Returns (%) (in `)
the Scheme

L&T India Value Fund(G)€ 11.75% 14.94% 25.46% 08/Jan/2010 16.84% 35,953.00
S&P BSE-200 TRI 12.49% 9.31% 15.77% 10.37% 22,509.34
^
S&P BSE SENSEX TRI 12.70% 7.14% 13.48% 9.57% 21,195.98
1
This material is only for distributors and not for investors and excludes performance of direct plans. For complete performance details please refer to the factsheet. Past
performance may or may not be sustained in the future. 2Standard Benchmark. As per the SEBI standards for performance reporting, the since inception return is
calculated on NAV of `10 invested at inception. CAGR is compounded annualised. Date of inception is deemed to be date of allotment. 3Point to Point (PTP) Returns in INR
show the value of `10,000/- invested. The fund managers for the scheme are Mr. Venugopal Manghat and Mr. Karan Desai (for investments in foreign securities). The
performance (as on 31.03.2018) of all the schemes managed by Mr. Venugopal Manghat and Mr. Karan Desai is shown below.

CAGR Returns (%) (Period) Since Inception


1 year 3 year 5 year Date of CAGR PTP
Inception of Returns (%) Returns3
the Scheme (in `)

Funds managed by Venugopal Manghat


L&T India Large Cap Fund(G)€ 9.60% 5.88% 15.37% 9.17% 24,986.00
S&P BSE-100 TRI 12.12% 8.39% 14.73% 7.77% 21,835.72
S&P BSE SENSEX TRI^ 12.70% 7.14% 13.48% 7.20% 20,655.30

L&T Business Cycles FundG) 12.54% 9.53% 14.45% 16,268.00
S&P BSE 200 TRI 12.49% 9.31% 10.72% 14,438.46
^
S&P BSE SENSEX TRI 12.70% 7.14% 7.81% 13,114.16

Fund is co-managed by Mr. Karan Desai (for investments in foreign securities).
L&T Monthly Income Plan(G)¥ 3.89% 5.65% 7.90% 8.42% 32,756.10
CRISIL Hybrid 85+15 - Conservative Index 6.26% 8.42% 9.78% 8.57% 33,383.73
CRISIL 10 Yr Gilt Index^ -0.42% 6.36% 6.42% 5.56% 22,120.79
¥
Fund is co-managed by Mr. Jalpan Shah (Debt Portion).
L&T Equity Savings Fund (G)£ 7.34% 6.27% 9.33% 8.70% 17,119.00
Nifty 50 Arbitrage (75%) + 6.44% 6.74% 9.21% 9.18% 17,614.66
S&P BSE 200 TRI (25%)
CRISIL 10 Yr Gilt Index2 -0.42% 6.36% 6.42% 7.32% 15,772.09
L&T Arbitrage Opportunities Fund(G)§ 6.22% 6.39% 6.80% 12,795.00
Nifty 50 Arbitrage Index 4.36% 5.65% 6.27% 12,559.75
CRISIL 1 Yr T-Bill Index2 5.87% 6.91% 7.30% 13,021.66
§
Fund is co-managed by Mr. Praveen Ayathan & Mr. Karan Desai (For investments in foreign securities.)

Funds managed by Mr. Karan Desai1


L&T Equity Fund(G)€ 11.59% 8.00% 17.73% 17.51% 79,813.00
1
S&P BSE-200 TRI 12.49% 9.31% 15.77% 14.84% 59,360.01 This material is only for distributors and
S&P BSE SENSEX TRI^ 12.70% 7.14% 13.48% 14.77% 58,924.67 not for investors and excludes performance
of direct plans. For complete performance
L&T India Special Situations Fund(G)€ 13.38% 10.37% 19.02% 14.16% 48,077.00
details please refer to the factsheet.
S&P BSE-200 TRI 12.49% 9.31% 15.77% 12.40% 39,977.29 2
Standard Benchmark Note: As per the SEBI
S&P BSE SENSEX TRI^ 12.70% 7.14% 13.48% 11.59% 36,698.19
€ standards for performance reporting, the
L&T Emerging Businesses Fund(G) 27.34% 22.83% 28.93% 26,796.00
since inception return is calculated on NAV
S&P BSE Small Cap TRI 18.55% 17.00% 24.04% 23,066.52
of `10/- invested at inception. CAGR is
S&P BSE SENSEX TRI^ 12.70% 7.14% 10.67% 14,820.74
compounded annualised. Date of
L&T India Prudence Fund(G)¥ 10.49% 9.89% 18.70% 14.06% 25,573.00
inception is deemed to be date of
Benchmark$ 10.66% 9.10% 13.80% 11.05% 21,135.67
allotment. Past performance may or
S&P BSE SENSEX TRI^ 12.70% 7.14% 13.48% 10.43% 20,305.43
may not be sustained in the future.
$
70% - S&P BSE 200 TRI Index and 30% - CRISIL Short Term Bond Fund Index €Fund is co-managed by Mr. Karan Desai (for 3
Point to Point (PTP) Returns in INR show
investments in Foreign Securities). ¥Fund is co-managed by Mr. Shriram Ramanathan (Debt Portion) & Mr. Karan Desai(for the value of `10,000/- invested.
investments in Foreign Securities).
Why invest with L&T Mutual Fund?
• The aim of L&T Mutual Fund is to create prosperity for all stakeholders by delivering consistent long-term investment
performance, product innovation and quality service
• Our commitment to answering different customer needs has resulted in a range of funds that span asset classes, risk
profiles, time horizons and geographies
• We build our investments on a foundation of in-depth research and fundamental analysis. GEM, our proprietary
investment process comprises three rigorous steps - Generation of ideas, Evaluation of companies and Manufacturing
and monitoring of portfolios
• With over 24,40,000 customer account folios across 375 cities and towns and close to ` 62,000 crores in managed
assets^, we remain dedicated to building our customers’ futures.

Fund Facts
Objective To generate long-term capital appreciation from a diversified portfolio of predominantly equity and
equity-related securities, in the Indian markets with higher focus on undervalued securities. The
scheme could also additionally invest in foreign securities in international markets.

Options Growth and Dividend. The Dividend option offers dividend payout and dividend reinvestment
facilities.

Asset allocation 80% - 100% in equity and equity-related securities (includes investments in equity derivatives)
0% - 10% in foreign securities including overseas ETFs (as permitted by SEBI/RBI)
0% - 20% in debt securities (including securitized debt), money market instruments,
cash and domestic ETFs

Lump sum Minimum application amount `5,000 per application and in multiple of `1 thereafter
Additional investment `1,000 per application and in multiple of `1 thereafter

SIP Minimum aggregate amount `3,000


Minimum number of instalments 6 (Monthly) or 4 (Quarterly)
Minimum instalment amount `500

Load structure Entry load Exit load


Nil For redemption within 1 year For redemption beyond 1 year
1% of applicable NAV Nil
(From date of allotment or purchase applying First-in First-out basis)

Fund managers Venugopal Manghat with a total experience spanning 23 years


Karan Desai (for investments in foreign securities) with more than 9 years experience

Benchmark S&P BSE-200 TRI Index

SIP/SWP/STP Available

*Average assets. Data for the quarter ended March 31, 2018
This product is suitable for investors who are seeking*
• Long term capital appreciation
• Investment predominantly in equity and equity-related securities in Indian
markets and foreign securities with higher focus on undervalued securities
*Investors should consult their financial advisers if in
doubt about whether the product is suitable for them.

Mutual Fund investments are subject to market risks, read all scheme
CL05442
related documents carefully.