What is the L&T India Special Situations Fund?

Special situations are unusual or out-of-the-ordinary circumstances that a company or its stock can face. For instance, a
company could be in the midst of a merger or an acquisition, launching a new product or a new business stream. Or, a stock
could be selling at a discount to its underlying value or simply be out of favour. Each special situation presents an investment
opportunity that could provide potentially significant returns over time. L&T India Special Situations Fund is a fund which looks
for such stocks and companies and invests in them.

Of the many kinds of Special Situations, some common types are:

Recovery situations Companies that are turning around from a bad performance history

Under-appreciated growth Companies whose growth characteristics have not yet been recognised

Asset plays Companies which sell at a significant discount to their underlying assets

New product or new Companies launching a unique product or using existing resources to
business stream generate a new business stream

Out-of-favour stocks Unfashionable companies, which are fundamentally very strong

Corporate actions Companies that are potential candidates for mergers and acquisitions
or restructuring

Why invest in the L&T India Special Situations Fund?

Identifying special situations calls for skill, experience and rigorous research. The pre-requisites mirror L&T Mutual Fund’s
investment philosophy – delivering consistent and superior long-term investment performance. Our fund managers look
through hundreds of companies and employ bottom-up research and our proprietary GEM investment approach to identify
situations in the stock market that have the potential to deliver superior returns if spotted early, analysed carefully and held onto
for the right amount of time.

For an investor, the fund helps to add style diversification to the portfolio, because of its differentiated theme. The focus is
on delivering alpha over the longer term, and the investor needs to have a minimum investment horizon of 3-5 years.
Key Benefits
Out-of-the ordinary potential: Companies facing special situations often tend to significantly outperform the market

Ideal 'style’ diversifier: A touch of the special if your portfolio has several funds with similar investment styles

Diversified equity fund: 'Go anywhere' approach - no cap, sector or style bias, but a focus on investment opportunities in

special situations

Performance of L&T India Special Situations 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 Special Situations Fund (G) 34.95% 13.17% 18.75% 14.89% 49,561.00
S&P BSE-200 27.24% 8.83% 13.63% 11.55% 35,264.83
^
S&P BSE SENSEX 24.37% 4.92% 11.37% 10.50% 31,625.72

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.
2
Standard 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. Past performance may or may not be sustained in the future. 3Point to Point
(PTP) Returns in INR show the value of `10,000/- invested.
The fund managers for the scheme are Mr. S. N. Lahiri and Mr. Karan Desai. The performance (as on 30.11.2017) of all the schemes managed by Mr. S. N. Lahiri
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

Funds managed by Mr. S.N. Lahiri

L&T Equity Fund (G)€ 26.38% 10.21% 16.40% 18.08% 80,497.00
S&P BSE-200 27.24% 8.83% 13.63% 14.10% 52,362.74
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 13.82% 50,780.02
L&T Emerging Businesses Fund (G)€ 53.53% 26.42% 32.72% 27,364.00
S&P BSE Small Cap 47.85% 17.33% 27.74% 23,883.88
S&P BSE SENSEX^ 24.37% 4.92% 10.09% 14,075.56
L&T India Prudence Fund (G)¥ 22.67% 13.02% 18.39% 15.01% 25,948.00
Benchmark$ 20.56% 8.93% 12.36% 10.41% 19,641.08
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 9.34% 18,378.33
$
70% - S&P BSE 200 Index and 30% - CRISIL Short Term Bond Fund Index . €Fund is co-managed by Mr. Karan Desai
(for investments in Foreign Securities). ¥Fund is co-managed by Mr. Shriram Ramanathan (Debt Portion) & Mr. Karan Desai
(for investments in Foreign Securities).
L&T Tax Advantage Fund (G) 34.33% 14.98% 18.74% 27/Feb/2006 15.65% 55,341.00
S&P BSE-200 27.24% 8.83% 13.63% 11.27% 35,129.11
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 10.46% 32,239.89
L&T Midcap Fund (G)§ 43.67% 22.38% 28.51% 22.31% 1,46,110.00
Nifty Free Float Midcap 100 33.46% 17.05% 19.56% 18.32% 93,966.94
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 14.87% 63,344.20
§
Fund is co-managed by Mr. Vihang Naik.
L&T Infrastructure Fund (G) 50.95% 21.47% 23.08% 27/Sep/2007 6.12% 18,310.00
Nifty Infrastructure 25.98% 2.67% 5.99% -2.39% 7,812.93
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 6.69% 19,328.44
§
Fund is co-managed by Mr. Praveen Ayathan (Equity Portion) & Mr. Jalpan Shah (Debt Portion).
L&T Dynamic Equity Fund (G)§ 9.68% 5.48% 13.80% 12.59% 22,447.00
Benchmark$ 16.24% 7.09% 9.74% 9.66% 18,744.48
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 9.34% 18,378.33
$
50% S&P BSE 200 Index and 50% CRISIL Short Term Bond Fund Index
§
Fund is co-managed by Mr. Praveen Ayathan (Equity Portion) & Mr. Jalpan Shah (Debt Portion).
L&T Emerging Businesses Fund has launched on May 12, 2014 and has not completed 5 years of performance.

Funds managed by Mr. Karan Desai

L&T India Large Cap Fund (G)€ 22.09% 7.78% 14.44% 9.63% 25,336.00
S&P BSE-100 26.25% 7.37% 12.61% 6.71% 19,280.13
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 5.94% 17,925.51
L&T India Value Fund (G)€ 31.29% 18.59% 25.72% 18.19% 37,434.00
S&P BSE-200 27.24% 8.83% 13.63% 9.49% 20,458.38
S&P BSE SENSEX^ 24.37% 4.92% 11.37% 8.39% 18,898.97
L&T Business Cycles Fund (G)€ 34.79% 14.58% 17.92% 17,179.00
S&P BSE 200 27.24% 8.83% 11.03% 14,097.10
S&P BSE SENSEX^ 24.37% 4.92% 7.29% 12,597.47
€
Fund is co-managed by Mr. Karan Desai (for investments in foreign securities).
L&T Arbitrage Opportunities Fund (G)§ 5.82% 6.74% 30/Jun/2014 6.86% 12,548.00
Nifty 50 Arbitrage Index 4.26% 6.30% 6.43% 12,378.57
CRISIL 1 Yr T-Bill Index2 5.67% 7.23% 7.40% 12,767.05
§
Fund is co-managed by Mr. Praveen Ayathan & Mr. Karan Desai (For investments in foreign securities.)
€
For investments in Foreign Securities. Performance of funds managed by Mr. Karan Desai which are co-managed by
Mr. S. N. Lahiri are shown above.
1
This material is exclusively for distributors and not for investors. Therefore, it excludes the performance of direct plans and
history of declaration of dividends under the direct plans. For complete performance details please refer to the factsheet.
2
Standard 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. Past
performance may or may not be sustained in the future. 3Point to Point (PTP) Returns in INR show the value of
`10,000/- invested.
 Fund Facts
Objective To generate long-term capital growth from a diversified portfolio of predominantly equity and
equity-related securities including equity derivatives.

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

Asset allocation 80% - 100% in equity and equity-related securities.

0 – 20% in money market instruments.

Lump sum Minimum application amount `5,000 per application

Additional investment `1,000 per application

SIP Minimum number of instalments 6 (Monthly) or 4 (Quarterly)

Minimum instalment amount `500
Minimum aggregate amount `3,000

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 S. N. Lahiri with total experience spanning 27 years

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

Benchmark S&P BSE-200 Index

SIP/SWP/STP Available

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 17,50,000 customer account folios across 375 cities and towns and close to over ` 61,000 Crores* in
managed assets*, we remain dedicated to building our customers’ futures

*Average assets Data for the quarter ended November 30, 2017

This product is suitable for investors who are seeking*

• Long term capital growth
• Investment predominantly in equity and equity-related securities, with key theme
focus being “Special Situations”, i.e. “situations that are out of the ordinary”

*Investors should consult their financial advisers if in

doubt about whether the product is suitable for them. Investors understand that their principal will be at moderately high risk

Mutual Fund investments are subject to market risks, read all scheme
related documents carefully. CL05081