L&T Equity Fund Completes 10 Years of Superior Performance*

L&T Mutual Fund announced the 10th anniversary of L&T Equity Fund, its flagship fund. The fund opened for ongoing subscriptions on 18th May 2005 with an aim to generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related securities in the Indian markets. True to this objective, L&T Equity Fund invests across large, mid and small caps, growth and value stocks and has no style or trend bias. This level of diversification has helped its investors to get a five-in-one fund advantage. The fund is also credited with an industry first – it pioneered SIP investments beginning at the NFO stage, which was not possible earlier.

The fund’s superior risk-adjusted performance vis-à-vis its benchmark over most periods has resulted in a decade of wealth creation for investors around 375 touch points in the country. Over the last 10 years, L&T Equity Fund has managed assets for close to 7 lakh investor folios.

Speaking on the fund’s anniversary, Kailash Kulkarni, Chief Executive Officer, L&T Mutual Fund, said, “L&T Equity Fund is backed by a disciplined investment approach and has given superior risk-adjusted returns viz a viz its benchmark over most periods. Given its performance to date, long-term investors who stayed put in this fund over the past 10 years would certainly be a happy lot. For instance, Rs 1 lakh invested in May 2005 would have grown to about Rs. 6.28 lakhs by May 2015, which works out to over 20 percent in compounded annualized returns*.”

Soumendra Nath Lahiri, Head of Equities and Fund Manager of L&T Equity Fund said: “Such consistent long term outperformance is an outcome of our clear and consistent investment philosophy and experienced investment teams at work, across research, dealing and portfolio management. We focus on owning high quality, scalable businesses at reasonably attractive valuations and that has clearly contributed to performance. We do not get swayed by short term market movements. For example, there have been phases in the market over the past 10 years, when overvalued stocks have continued to rally backed by strong momentum and liquidity. However, L&T Equity Fund has preferred to stay away from such stocks. So, the fund has been a consistent performer across all time periods, instead of being at the top of the performance league during some periods and at bottom of the league in others.”

Since inception, L&T Equity Fund has outperformed both the scheme and standard benchmarks by 5.03 percent and 4.55 percent respectively as on May 2015.

Performance Vs Scheme Benchmark and Standard Benchmark

This product is suitable for investors who are seeking*

• Long term capital growth

• Investment predominantly in equity and equity-related securities

• High risk (BROWN)

Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk; (YELLOW) investors understand that their principal will be at medium risk, (BROWN) investors understand that their principal will be at high risk.

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

The fund managers for the scheme are Mr. Soumendra Nath Lahiri and Mr. Abhijeet Dakshikar (for investments in foreign securities). The performance (as on 31.03.2015) of all the schemes managed by Mr. Soumendra Nath Lahiri and Mr. Abhijeet Dakshikar is shown below.

Funds managed by Mr. Soumendra Nath Lahiri

Performance of all other schemes managed by  Abhijeet Dakshikar (for investments in foreign securities)

Past performance may or may not be sustained in the future. * Point to Point (PTP) Returns in INR show the value of Rs10,000/- invested ^Standard Benchmark. Note: As per the SEBI standards for performance reporting, the since inception return is calculated on NAV of `10/- invested at inception. CAGR is compounded annualized. Date of inception is deemed to be date of allotment. # For L&T India Prudence Fund and L&T India Equity and Gold Fund, the performance shown is from 28-Mar-14 to 31-Mar-15 as 31-Mar-14 was a non-business day for these schemes. $70% - S&P BSE 200 Index, 20% - Gold Prices and 10% - CRISIL Short Term Bond Fund Index. @ 70% - S&P BSE 200 Index and 30% - CRISIL Short Term Bond Fund Index. + A custom benchmark which is a blend of the following indices-MSCI ACWI Industrials, MSCI ACWI Real Estate, MSCI ACWI Utilities, MSCI Materials and MSCI Energy. The weights assigned to each individual index while calculating the custom benchmark are 20%, 20%, 10%, 20% and 30% respectively. Performance of L&T Emerging Businesses Fund, L&T Business Cycles Fund and L&T Arbitrage Opportunities Fund has not been shown as they have not completed 1 year since their inception.

About L&T Mutual Fund

L&T Mutual Fund has over Rs. 22,497 crores (as on 31^st March 2015) in average assets under management from more than 800,000 customers. A fund suite that spans 30 funds across asset classes, risk profiles and time horizons, proven track record, investment management expertise, best-in-class practices and a branch network of over 56 branches positions the business well in the Indian Asset Management landscape.

This document must not be reproduced or circulated without prior permission. This article is being circulated for information purposes only and not for solicitation of business or trading purposes. L&T Investment Management and the content providers of this article shall not be liable for any errors in the content or for any actions taken in reliance thereon. The recipient should note that the views expressed above are solely the views of the Fund Managers and it should not be construed as a recommendation to buy or sell any securities. The recipient of this document should rely on their investigations and take their own professional advice.

Risk Factors: Mutual funds investments are subject to market risks, read all scheme related documents carefully.