DebtLow Duration FundDirectGrowthLow to Moderate

LIC MF Ultra Short to Short Term fund

Q: What is the NAV of LIC MF Ultra Short to Short Term fund?

As of 05 Oct 2026, the NAV of LIC MF Ultra Short to Short Term fund is ₹46.46 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has LIC MF Ultra Short to Short Term fund delivered?

LIC MF Ultra Short to Short Term fund has returned +6.36% over 1 year, +7.34% per year over 3 years, +6.56% per year over 5 years and +7.19% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund charges an expense ratio of 0.24% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund's largest holdings are LIC MF ULTRA SHRT DUR FD -DIRECT PLAN (5.3%), Punjab National Bank (5.1%), 7.64% REC Ltd. (4.1%), 364 DAYS TBILL RED 29-10-2026 (3.9%) and Time Technoplast Ltd. (3.9%). Holdings are disclosed monthly and change over time.

Q: How risky is LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.5% and its worst peak-to-trough fall in our sample was -6.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund is benchmarked against the CRISIL Low Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.

Q: Who manages LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund is managed by Pratik Harish Shroff and Rahul Singh at LIC.

Q: How is LIC MF Ultra Short to Short Term fund taxed?

LIC MF Ultra Short to Short Term fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

LIC Mutual Fund · Best Low Duration Mutual Funds

NAV

₹46.46

+0.08% 1D

as of 05 Oct 2026

This is the Direct plan of LIC MF Ultra Short to Short Term fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+6.33%absolute

52-week rangePrev NAV ₹46.42

Latest ₹46.46

Low ₹43.70100th percentile of its 52-week rangeHigh ₹46.46

Scorecard

★★★★☆4/5 vs 20 of 24 Low Duration Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Low Duration Fund (same plan and option). 20 of the 24 Low Duration Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +7.34% · ranks 9 of 20 Low Duration Funds

RiskLow

Volatility 0.5% vs 0.5% category avg

CostLow

0.2% expense vs 0.3% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Ranks #2 of 23 on 1-year return in its Low Duration Fund cohort
Less volatile than its Low Duration Fund peers (0.5% vs 0.5%)
Low expense ratio (0.24%) vs the Low Duration Fund average of 0.34%
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.24%

Category 0.34%▼0.10%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

—

Category 1.62

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

CRISIL Low Duration Debt A-I Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

02 Jan 2013

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.39%

Absolute return over the last 3 months (not annualized)

+1.47%

Absolute return over the last 6 months (not annualized)

+3.66%

Absolute return since 1 Jan of this year (not annualized)

+4.90%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+6.36%

3-year annualized return (CAGR)

+7.34%

5-year annualized return (CAGR)

+6.56%

10-year annualized return (CAGR)

+6.46%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+7.19%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.47%

Excess return per unit of total volatility (rf = 6.5%)

—

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

—

Largest peak-to-trough decline over full history

-6.18%

Benchmark ratios

Not shown for Low Duration Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Low Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.39%	+0.32%	+0.07%
3M abs	+1.47%	+1.33%	+0.14%
6M abs	+3.66%	+3.47%	+0.19%
1Y CAGR	+6.36%	+6.16%	+0.20%
3Y CAGR	+7.34%	+7.33%	+0.01%
5Y CAGR	+6.56%	+6.61%	-0.05%

Category average across peers in Low Duration Fund (up to 24 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 24 peers in Low Duration Fund

1Y return

+6.36%

Beats 95.5% · rank #2

3Y return

+7.34%

Beats 57.9% · rank #9

5Y return

+6.56%

Beats 43.8% · rank #10

Sharpe

—

Sortino

—

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.14L

Absolute

+18.94%

XIRR

+7.09%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into LIC MF Ultra Short to Short Term fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+4.90%
2025	+7.61%
2024	+7.89%
2023	+7.19%
2022	+4.41%
2021	+4.30%
2020	+7.57%
2019	+4.03%
2018	+7.74%
2017	+7.24%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

3,320

Expense ratio

0.24%

YTM

7.58%

Macaulay duration

0.72 years

Average maturity

0.73 years

Exit load

Nil

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Low Duration Fund

Compare all


LIC MF Ultra Short to Short Term fundThis fund LIC · Direct · Growth	★★★★☆	+6.36%	+7.34%	+6.56%	—	0.24%	—
HSBC Ultra Short to Short Term Fund HSBC · Direct · Growth	★★★★★	+6.25%	+7.82%	—	—	0.40%	—
Kotak Ultra Short to Short Term Fund Kotak Mahindra · Direct · Growth	★★★★☆	+6.23%	+7.44%	+6.74%	—	0.41%	—
Nippon India Ultra Short to Short Term Fund Nippon India · Direct · Growth	★★★★☆	+6.34%	+7.44%	+6.76%	—	0.39%	—
Mirae Asset Ultra Short to Short Term Fund Mirae Asset · Direct · Growth	★★★☆☆	+6.30%	+7.43%	+6.65%	—	0.21%	—
Mahindra Manulife Ultra Short to Short Term Fund Mahindra Manulife · Direct · Growth	★★☆☆☆	+6.32%	+7.43%	+6.70%	—	0.34%	—

Asset allocation

As on 30 Sep 2026 · AMC disclosure

Debt88.70%
Cash & Equivalents5.76%
Other5.56%

Cash & cash-like: 7.34% — the 5.76% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 30 Sep 2026 · AMC disclosure

LIC MF ULTRA SHRT DUR FD -DIRECT PLAN

5.27%

Punjab National Bank

5.11%

Time Technoplast Ltd.

3.88%

ICICI Bank Ltd.

3.09%

Axis Bank Ltd.

2.58%

National Bk for Agriculture & Rural Dev.

2.58%

Bank of Baroda

2.56%

ICICI Bank Ltd.

2.55%

Small Industries Development Bk of India

2.55%

Embassy Office Parks REIT

2.55%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-6.2%10 May 2019 → 04 Jun 2019
Fell over 25 days, back to the old high on 30 Oct 2019 — 5 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

LIC Mutual Fund is sponsored by the Life Insurance Corporation of India and has been in business since 1989. It absorbed IDBI Mutual Fund's schemes in 2023 and runs a mix of equity, debt and index funds.

Launched

19 Apr 1994

Total AUM

₹49,535Cr+6.6% QoQ

Avg AUM · April - June 2026

Website

licmf.com

Fund Managers

PSPratik Harish ShroffStart date not disclosed

Role

Fund Manager – Fixed Income

Experience

Over 18 years of experience in the Banking and Financial Services Industry. • Fund Manager (Fixed Income)- LIC Mutual Fund Asset Management Ltd. (with effect from 18th September 2023) • Senior Associate Director Treasury – CTBC Bank LTD (February 2023 to September 2023) • Deputy Vice president GMG – IndusInd Bank Limited (August 2021 to February 2023) • Vice President Treasury – Industrial and Commercial Bank of China (November 2018 to August 2021) • Dealer Fixed Income – Tata Mutual Fund (October 2012 to November 2018) • Associate Vice President – LKP Securities (May 2007 – October 2012)

Funds managed (15)

All schemes Pratik Harish Shroff runs →

RSRahul SinghStart date not disclosed

Role

Senior Fund Manager – Debt

Education

• Bsc. Economics Hons., • PGDM (MBA) – IIM Ahmedabad debt

Experience

Around 21 years experience in Financial Services Industry • Senior Fund Manager, Fixed Income – LIC Mutual Fund (w.e.f. 17/05/2021) • Fund Manager, Fixed Income - LIC Mutual Fund (07/09/2015 16/05/2021) • Dealer - Fixed Income - BOI AXA Investment Managers (August 2009 August 2015) • Credit Analyst – ING Investment Management (May 2008 – August 2009) • Internship – Standard Chartered Bank (April 2007 – May 2007) • Research Analyst Ashika Capital (Jan 2004 to April 2006)

Funds managed (10)

All schemes Rahul Singh runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Pratik Harish Shroff Rahul Singh

LIC in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Low Duration funds

Low duration funds run a Macaulay duration of 6 to 12 months. They sit between ultra short and short duration funds, aimed at money with a horizon of about a year.

Frequently asked questions

What is the NAV of LIC MF Ultra Short to Short Term fund?

As of 05 Oct 2026, the NAV of LIC MF Ultra Short to Short Term fund is ₹46.46 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has LIC MF Ultra Short to Short Term fund delivered?

LIC MF Ultra Short to Short Term fund has returned +6.36% over 1 year, +7.34% per year over 3 years, +6.56% per year over 5 years and +7.19% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund charges an expense ratio of 0.24% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund's largest holdings are LIC MF ULTRA SHRT DUR FD -DIRECT PLAN (5.3%), Punjab National Bank (5.1%), 7.64% REC Ltd. (4.1%), 364 DAYS TBILL RED 29-10-2026 (3.9%) and Time Technoplast Ltd. (3.9%). Holdings are disclosed monthly and change over time.

How risky is LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.5% and its worst peak-to-trough fall in our sample was -6.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund is benchmarked against the CRISIL Low Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.

Who manages LIC MF Ultra Short to Short Term fund?

LIC MF Ultra Short to Short Term fund is managed by Pratik Harish Shroff and Rahul Singh at LIC.

How is LIC MF Ultra Short to Short Term fund taxed?

LIC MF Ultra Short to Short Term fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.