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Long Duration Fund


Investing in mutual funds requires understanding different categories, including long-duration mutual funds. These funds are designed for investors who are willing to take on higher risks in exchange for potentially greater returns. Read more..Unlike short-duration funds, long-duration funds invest primarily in government and corporate bonds with extended maturity periods, typically exceeding seven years. Given their volatility, they are suitable for investors with long-term financial goals, such as retirement planning, home purchase, or wealth accumulation over decades.

These funds aim to generate returns by holding fixed-income securities for an extended period, making them sensitive to interest rate fluctuations. While they offer the potential for high returns, they also come with significant risks. Understanding how long-duration funds work and their key characteristics can help investors make informed decisions about whether they align with their investment objectives. Read less

Long Duration Fund List

Name
AUM
1Y Returns

ICICI Pru Long Term Bond Fund - (IDCW-Q)

Debt|Long Duration Fund

Buy

 ₹1196.58 cr. 11.83%

ICICI Pru Long Term Bond Fund - (G)

Debt|Long Duration Fund

Buy

 ₹1196.58 cr. 11.84%

ICICI Pru Long Term Bond Fund - (IDCW-Q)

Debt|Long Duration Fund

Buy

 ₹1196.58 cr. 11.83%

SBI Long Duration Fund - Regular (G)

Debt|Long Duration Fund

Buy

 ₹2990.01 cr. 10.66%

SBI Long Duration Fund - Regular (IDCW)

Debt|Long Duration Fund

Buy

 ₹2990.01 cr. 10.66%

Aditya Birla SL Long Duration Fund (G)

Debt|Long Duration Fund

Buy

 ₹192.64 cr. 11.75%

Aditya Birla SL Long Duration Fund (IDCW) - Reinvestment

Debt|Long Duration Fund

Buy

 ₹192.64 cr. 11.75%

Aditya Birla SL Long Duration Fund (IDCW) - Payout

Debt|Long Duration Fund

Buy

 ₹192.64 cr. 11.75%

Franklin India Long Duration Fund - Regular (IDCW)

Debt|Long Duration Fund

Buy

 ₹27.59 cr. %

Nippon India Nivesh Lakshya Fund (IDCW-M) - Payout

Debt|Long Duration Fund

Buy

 ₹9863.12 cr. 11.01%
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What is a Long Duration Fund?

A long-duration mutual fund is an open-ended investment scheme that primarily invests in debt and money market instruments with a residual maturity of more than seven years. The Securities and Exchange Board of India (SEBI) mandates that these funds maintain an average portfolio duration exceeding this threshold, making them distinct from medium and short-duration debt funds.

These funds invest in long-term government securities and high-rated corporate bonds, making them highly sensitive to interest rate changes. The primary objective of long-duration funds is to provide investors with high returns by capitalising on the fluctuations in interest rates. As interest rates decline, the value of the fund’s underlying bonds increases, offering capital appreciation to investors.

Since these funds carry higher risks than short-duration funds, they are suitable for investors with a high-risk tolerance and a long investment horizon. Given their potential for superior returns, long-duration funds are often preferred by experienced investors who understand market cycles and can endure volatility.
 

How Does a Long Duration Fund Work?

Long-duration funds function by investing in fixed-income securities with extended maturity periods. Their performance is closely tied to interest rate movements, making them more volatile compared to other debt funds. Here’s how they work:

  • Investment in Long-Term Bonds - These funds allocate a significant portion of their corpus to government and corporate bonds that mature in more than seven years. The extended maturity period increases their exposure to interest rate fluctuations.
  • Interest Rate Sensitivity - Since bond prices and interest rates move inversely, long-duration funds benefit from falling interest rates, which increase the value of their holdings. Conversely, rising interest rates negatively impact their value.
  • Capital Appreciation - Investors in long-duration funds earn returns through interest income from bonds and potential capital gains when bond prices appreciate.
  • Market Exposure - Unlike short-term debt funds, long-duration funds are exposed to economic cycles, making them more volatile. Investors should be prepared for price fluctuations over the investment period.
  • Long-Term Financial Goals - Due to their extended holding period, these funds are suitable for investors planning for long-term financial objectives, such as wealth creation, retirement savings, or funding large future expenses.
     

What are the Features of Long Duration Funds?

Long-duration mutual funds are known for their potential to generate high returns over an extended investment horizon. However, they come with inherent risks due to their exposure to market fluctuations. Here are the key features of long-duration mutual funds:

  • Long Investment Horizon - These funds invest in bonds with a maturity period of over seven years, making them suitable for long-term financial goals.
  • Market-Linked Returns - Unlike fixed-income instruments, long-duration funds are subject to market volatility, and their returns depend on interest rate movements.
  • Higher Risk, Higher Returns - Given their longer tenure, these funds can go through full economic cycles, exposing them to interest rate risks but also offering the potential for higher returns.
  • Diversified Portfolio - These funds invest in a mix of government bonds, corporate bonds, and money market instruments to manage risks while seeking optimal returns.
  • Interest Rate Sensitivity - Long-duration funds are highly sensitive to changes in interest rates, with their Net Asset Value (NAV) fluctuating based on prevailing economic conditions.
  • Tax Implications - Capital gains from these funds are taxed as per the investor’s income tax slab if redeemed within three years. If held for more than three years, they attract long-term capital gains tax with indexation benefits.
     

Types of Long Duration Funds

Long-duration mutual funds come in different types based on the securities they invest in. Here are the major categories:

  1. Government Bond Funds - These funds primarily invest in long-term government securities, offering relative stability due to sovereign backing. However, they remain sensitive to interest rate changes.
  2. Corporate Bond Funds - Investing in high-rated corporate bonds, these funds offer higher yields than government bond funds. The risk level depends on the creditworthiness of the issuing companies.
  3. Gilt Funds - These funds exclusively invest in government securities with no credit risk. They are ideal for conservative investors seeking exposure to long-duration debt instruments.
  4. Dynamic Bond Funds - These funds adjust their portfolio based on changing interest rates. Fund managers actively switch between short- and long-duration bonds to optimise returns.
  5. Fixed Maturity Plans (FMPs) - FMPs are closed-ended funds with a fixed tenure, investing in long-duration debt instruments. Investors must stay invested until maturity to realise potential returns.

Each type of long-duration fund caters to different risk appetites and financial objectives. Investors should consider their investment horizon and risk tolerance before choosing the right fund.
 

Who Should Invest in Long Duration Funds?

Long-duration mutual funds are best suited for investors who are comfortable with short-term volatility and have a long-term investment horizon. These funds are designed for individuals who can withstand market fluctuations and aim for substantial returns over an extended period.

Here are some key factors to consider before investing in long-duration funds:

  • Long-term financial goals – These funds are ideal for those planning for major future expenses, such as retirement, buying a house, or funding a child’s education.
  • Higher risk tolerance – Since long-duration funds are exposed to interest rate fluctuations and economic cycles, they are better suited for investors willing to take on greater risk.
  • No need for immediate liquidity – Investors who do not require immediate access to their funds and can stay invested for a decade or more may benefit the most.
  • Seeking potentially higher returns – Compared to short and medium-duration debt funds, long-duration funds have the potential to generate higher returns over time.
  • Portfolio diversification – These funds can be a good option for investors looking to diversify their investment portfolio with debt instruments that offer long-term growth potential.
     

How to Invest in Long Duration Funds?

Investing in long-duration mutual funds is a straightforward process. Follow these steps to start your investment journey:

  1. Define Your Investment Goals
    • Identify the purpose of your investment and the timeframe for which you plan to stay invested.
    • Assess your risk tolerance and ensure long-duration funds align with your financial objectives.
  2. Research and Select a Suitable Fund
    • Compare different long-duration mutual funds based on historical performance, expense ratio, and risk levels.
    • Check the fund’s portfolio composition, including government and corporate bond holdings.
    • Evaluate the consistency of returns over multiple market cycles.
  3. Choose an Investment Mode
    • Decide between a lump sum investment or a Systematic Investment Plan (SIP) based on your financial strategy.
    • SIPs allow for disciplined investing by spreading investments over time, reducing the impact of market fluctuations.
  4. Complete KYC (Know Your Customer) Formalities
    • Ensure you have completed KYC verification, which includes submitting identity and address proof as required by regulatory authorities.
  5. Make the Investment
    • Invest through a trusted platform that provides access to mutual funds.
    • Select your preferred payment method, such as net banking or UPI, for seamless transactions.
    • If investing through SIP, set up an automatic mandate for hassle-free monthly contributions.
  6. Monitor Your Investment Regularly
    • Track fund performance periodically and assess whether it continues to align with your financial goals.
    • Be prepared for market fluctuations and stay invested for the long term to maximise returns.


By following these steps, you can make informed decisions and benefit from the long-term growth potential of long-duration mutual funds.
 

Advantages of Investing in Long Duration Funds

Long duration mutual funds offer several potential benefits for investors with long-term financial goals. Here’s why they can be a valuable addition to an investment portfolio:

  • Higher Return Potential – Compared to short-term debt funds and fixed deposits, long-duration funds have the potential to generate higher returns over time. This is because they invest in bonds with extended maturities, which typically offer better yields.
  • Effective for Medium to Long-Term Goals – These funds are well-suited for investors planning for future financial milestones such as home ownership, higher education, or retirement. Their long investment horizon aligns with these goals.
  • Tax Efficiency for High-Income Investors – Investors in higher tax brackets may benefit from indexation, which adjusts the purchase price of the investment for inflation. This can reduce capital gains tax liability, making long-duration funds more tax-efficient than fixed deposits.
  • Diversification Benefits – Including long-duration funds in a portfolio can enhance diversification. These funds invest in government and corporate bonds, which behave differently from equity investments, reducing overall portfolio risk.
  • Potential for Higher After-Tax Returns – In a favourable interest rate environment, these funds can deliver strong after-tax returns, often exceeding those of traditional savings or fixed-income instruments.
  • Stability During Market Volatility – While these funds are subject to interest rate risk, they generally provide more stability compared to equity investments, especially during economic downturns.
     

Risks Involved in Long Duration Funds

Despite their benefits, long-duration funds come with certain risks that investors should be aware of. Here are the key risks associated with these funds:

  • Interest Rate Risk – The performance of long-duration funds is highly sensitive to changes in interest rates. If interest rates rise, the value of long-term bonds falls, leading to a decline in the fund’s Net Asset Value (NAV).
  • Credit Risk – These funds may invest in corporate bonds, which carry the risk of default if the issuer fails to meet payment obligations. While government bonds are generally safer, corporate bonds require careful evaluation.
  • Market Volatility – As these funds invest in bonds with extended maturity periods, they are exposed to fluctuations across different economic cycles, making them riskier than short-duration debt funds.
  • Liquidity Risk – Some long-duration bonds may have lower trading volumes, making it difficult to sell them quickly without affecting their price. This can be a concern during periods of financial instability.
  • Economic and Policy Risks – Government policies, inflation, and economic downturns can impact bond yields and affect the returns from long-duration funds. Policy changes, such as fiscal tightening, may reduce demand for long-term bonds.
  • Expense Ratio Impact – A high expense ratio can erode overall returns, particularly if the fund underperforms. Investors should carefully review the costs associated with managing the fund before making a decision.


By understanding both the advantages and risks of long-duration funds, investors can make informed decisions based on their risk tolerance, investment horizon, and financial goals.
 

Factors To Consider Before Investing in Long Duration Fund

Before investing in long-duration funds, it is essential to evaluate various factors that influence their performance and suitability for your financial goals. Here are the key aspects to consider:

  • Investment Goals – Long-duration funds are typically used to achieve medium to long-term financial objectives. These funds may be suitable for investors looking to build wealth over an extended period rather than seeking immediate returns.
  • Investment Horizon – These funds generally require a time commitment of at least 5–7 years to deliver optimal returns. Investing in them for a shorter duration may expose you to unnecessary market volatility.
  • Risk Profile – Long-duration funds are more susceptible to interest rate fluctuations. Rising interest rates may negatively impact returns, making these funds riskier than short-duration debt funds. Investors must be prepared for periods of volatility.
  • Return Potential – The performance of long-duration funds is significantly influenced by the interest rate cycle. In a declining interest rate environment, these funds tend to deliver higher returns. Analysing historical returns over different time frames (3–10 years) can help assess their consistency.
  • Expense Ratio – The expense ratio is the annual fee charged by the fund house for managing the investment. A high expense ratio can reduce overall returns, making it crucial to choose funds with a competitive cost structure.
  • Financial Metrics – Evaluating financial metrics such as the Sharpe ratio, standard deviation, alpha, and beta can provide insights into the fund’s risk-adjusted returns. A higher Sharpe ratio indicates better risk-adjusted performance, while lower standard deviation and beta suggest reduced volatility.
  • Portfolio Composition – Reviewing the fund’s portfolio can help determine the quality of underlying bonds. Funds investing in government securities tend to be more stable, whereas those with corporate bonds carry credit risk.


By carefully considering these factors, investors can make informed decisions that align with their financial strategy and risk appetite.
 

Taxability of Long Duration Fund

Understanding the tax implications of long-duration funds is crucial for maximising post-tax returns. Here’s how these funds are taxed:

  • Capital Gains Tax – Gains from long-duration mutual funds are taxed based on the holding period:
    • If held for less than 36 months, they are considered short-term capital gains (STCG) and taxed as per the investor’s applicable income tax slab.
    • If held for more than 36 months, they qualify as long-term capital gains (LTCG) and are taxed at 20% with indexation benefits. Indexation allows investors to adjust the purchase price for inflation, reducing taxable gains.
  • Dividend Taxation – Any dividends received from long-duration funds are added to the investor’s total taxable income and taxed as per their income slab. If dividend income exceeds ₹5,000 in a financial year, a 10% TDS (Tax Deducted at Source) is applicable.
  • Comparative Tax Efficiency – Investors in the highest tax bracket may find long-duration funds more tax-efficient than traditional fixed-income instruments such as fixed deposits due to the indexation benefit.


By factoring in tax implications, investors can make better investment decisions and enhance their overall returns from long-duration funds.
 

Popular Banking and PSU Fund in India

Banking and PSU funds primarily invest in debt instruments issued by banks, public sector undertakings (PSUs), and public financial institutions. These funds offer stability and moderate returns, making them a preferred choice for conservative investors. Below is a table highlighting some of the popular Banking and PSU funds in India:

Name of the Fund

AUM (₹ Cr)

Expense Ratio

Average YTM

Category YTM

CAGR 5Y

CAGR 10Y

Nippon India Banking & PSU Debt Fund

10,512.36

0.32%

7.05%

7.10%

6.82%

7.24%

HDFC Banking and PSU Debt Fund

8,734.52

0.28%

7.08%

7.10%

6.90%

7.15%

SBI Banking and PSU Fund

6,903.44

0.29%

7.09%

7.10%

6.78%

7.10%

ICICI Pru Banking and PSU Debt Fund

4,215.63

0.30%

7.07%

7.10%

6.85%

7.18%

Axis Banking and PSU Debt Fund

3,421.87

0.31%

7.06%

7.10%

6.80%

7.12%

The above funds are listed based on AUM as of January 2025 and are provided for informational purposes only, not as recommendations.
 

Top 5 Individual Equity Funds in India

Equity funds are mutual funds that invest in stocks and shares of companies with the goal of generating high returns. These funds are suitable for investors willing to take risks for potentially better long-term gains. Below are five of the most popular individual equity funds in India:

  1. Nippon India Nivesh Lakshya Fund
    • AUM: ₹9,411.44 crore
    • Expense Ratio: 0.30%
    • Average YTM: 7.08%
    • CAGR 5Y: 7.36%
    • CAGR 10Y: Not available
    • This fund has the highest AUM among the listed funds and offers a strong long-term growth potential.
  2. HDFC Long Duration Debt Fund
    • AUM: ₹5,683.66 crore
    • Expense Ratio: 0.30%
    • Average YTM: 7.13%
    • CAGR 5Y: Not available
    • CAGR 10Y: Not available
    • This fund has the highest Average YTM, making it a competitive option among long-duration funds.
  3. SBI Long Duration Fund
    • AUM: ₹2,830.38 crore
    • Expense Ratio: 0.28%
    • Average YTM: 7.11%
    • CAGR 5Y: Not available
    • CAGR 10Y: Not available
    • With the lowest expense ratio in the list, this fund provides cost-efficient investment opportunities.
  4. ICICI Pru Long Term Bond Fund
    • AUM: ₹1,033.69 crore
    • Expense Ratio: 0.40%
    • Average YTM: 7.12%
    • CAGR 5Y: 6.50%
    • CAGR 10Y: 7.82%
    • This fund offers the highest 10-year CAGR, making it an attractive long-term investment.
  5. Axis Long Duration Fund
    • AUM: ₹527.44 crore
    • Expense Ratio: 0.32%
    • Average YTM: 7.11%
    • CAGR 5Y: Not available
    • CAGR 10Y: Not available
    • With a balanced risk-return ratio, this fund is suitable for investors looking for long-term stability.


The funds mentioned above are for informational purposes only and are not recommendations. Investors should conduct their own research before making investment decisions.
 

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The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at https://www.nseindia.com/

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : https://www.bajajbroking.in/pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

MARKETSMITH / GOLDENPI / SOVEREIGN GOLD BONDS

Bajaj Financial Securities Limited is only distributor of this product. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism. Bajaj Financial Securities Limited is not a registered Investment Advisory. User discretion is required before investing. Client is requested to independently evaluate and/or consult their professional advisors before arriving at any conclusion to make any investment. The decision to invest shall be the sole responsibility of the Client and shall not hold Bajaj Financial Securities Limited, its employees and associates responsible for any losses, damages of any type whatsoever. 

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites. 

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.