LIC MF Manufacturing Fund - Regular Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Portfolio Turnover Ratio : 78.00%. Category average turnover ratio is 153.01%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 95.41% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 95.41%

No of Stocks : 74 (Category Avg - 44.44) | Large Cap Investments : 15.49%| Mid Cap Investments : 16.19% | Small Cap Investments : 29.25% | Other : 34.45%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	74	43.41
Top 5 Stock Weight	18.44%	32.46%
Top 10 Stock Weight	30.9%	49.59%
Top 3 Sector Weight	30.4%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	26819.73	72450.77
Holdings in large cap stocks	15.49%	37.14%
Holdings in mid cap stocks	16.19%	14.47%
Holdings in small cap stocks	29.25%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
- Shakti Pumps (India) Ltd.	Compressors, pumps & diesel engines	429.4	5.12%	0.00%	5.42% (Jul 2025)	2.39% (Nov 2024)	5.24 L	0.00
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	298.4	3.56%	0.05%	4.19% (Apr 2025)	2.91% (Mar 2025)	85.57 k	0.00
Manorama Industries Ltd.	Other food products	291.5	3.48%	-0.02%	3.91% (Apr 2025)	0.64% (Nov 2024)	2.10 L	336.00
Garware Hi-Tech Films Ltd.	Plastic products - industrial	280.7	3.35%	0.45%	4.42% (May 2025)	1.6% (Nov 2024)	82.27 k	0.00
Cummins India Ltd.	Compressors, pumps & diesel engines	246.1	2.93%	0.27%	3.91% (Mar 2025)	2.66% (Sep 2025)	56.64 k	0.00
Carraro India Ltd.	Auto components & equipments	243.7	2.91%	0.36%	3.23% (Dec 2024)	0% (Nov 2024)	4.66 L	0.00
Bharat Bijlee Ltd.	Other electrical equipment	237.3	2.83%	0.29%	2.83% (Oct 2025)	1.67% (Feb 2025)	78.48 k	10.87 k
Hero Motocorp Ltd.	2/3 wheelers	200.1	2.39%	0.02%	3.17% (Aug 2025)	2.04% (Dec 2024)	36.10 k	0.00
Piramal Pharma Ltd.	Pharmaceuticals	185.5	2.21%	0.09%	2.21% (Oct 2025)	0.8% (May 2025)	9.29 L	0.00
Schneider Electric Infrastructure Ltd.	Heavy electrical equipment	177.8	2.12%	0.03%	2.47% (Jul 2025)	1.49% (Dec 2024)	2.13 L	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

Help me understand this table

Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
- Shakti Pumps (India) Ltd.	Compressors, pumps & diesel engines	14.69	429.4	5.12%	0.00%	5.42% (Jul 2025)	2.39% (Nov 2024)	5.24 L	0.00	Small Cap	29.25
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	5.42	298.4	3.56%	0.05%	4.19% (Apr 2025)	2.91% (Mar 2025)	85.57 k	0.00	Large Cap	15.49
Manorama Industries Ltd.	Other food products	3.48	291.5	3.48%	-0.02%	3.91% (Apr 2025)	0.64% (Nov 2024)	2.10 L	336.00	Other	34.45
Garware Hi-Tech Films Ltd.	Plastic products - industrial	3.35	280.7	3.35%	0.45%	4.42% (May 2025)	1.6% (Nov 2024)	82.27 k	0.00	Small Cap	29.25
Cummins India Ltd.	Compressors, pumps & diesel engines	14.69	246.1	2.93%	0.27%	3.91% (Mar 2025)	2.66% (Sep 2025)	56.64 k	0.00	Mid Cap	16.19
Carraro India Ltd.	Auto components & equipments	7.17	243.7	2.91%	0.36%	3.23% (Dec 2024)	0% (Nov 2024)	4.66 L	0.00	Other	34.45
Bharat Bijlee Ltd.	Other electrical equipment	4.83	237.3	2.83%	0.29%	2.83% (Oct 2025)	1.67% (Feb 2025)	78.48 k	10.87 k	Other	34.45
Hero Motocorp Ltd.	2/3 wheelers	3.51	200.1	2.39%	0.02%	3.17% (Aug 2025)	2.04% (Dec 2024)	36.10 k	0.00	Large Cap	15.49
Piramal Pharma Ltd.	Pharmaceuticals	6.09	185.5	2.21%	0.09%	2.21% (Oct 2025)	0.8% (May 2025)	9.29 L	0.00	Other	34.45
Schneider Electric Infrastructure Ltd.	Heavy electrical equipment	8.54	177.8	2.12%	0.03%	2.47% (Jul 2025)	1.49% (Dec 2024)	2.13 L	0.00	Small Cap	29.25
Bharat Forge Ltd.	Castings & forgings	2.02	169.4	2.02%	0.16%	4.36% (Jan 2025)	1.71% (Aug 2025)	1.28 L	0.00	Mid Cap	16.19
Grindwell Norton Ltd.	Abrasives & bearings	2.02	169.4	2.02%	0.11%	2.23% (Nov 2024)	1.79% (Jul 2025)	1.00 L	0.00	Small Cap	29.25
Avalon Technologies Ltd.	Other electrical equipment	4.83	167.3	2.00%	0.10%	2% (Oct 2025)	0% (Nov 2024)	1.41 L	-0.16 L	Other	34.45
Ingersoll Rand (india) Ltd.	Compressors, pumps & diesel engines	14.69	162.6	1.94%	-0.07%	2% (Sep 2025)	1.5% (Jun 2025)	42.55 k	0.00	Small Cap	29.25
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	5.42	156.2	1.86%	0.01%	2.75% (Dec 2024)	0.77% (Aug 2025)	9.65 k	0.00	Large Cap	15.49
Hindustan Unilever Ltd.	Diversified fmcg	3.1	155.3	1.85%	-0.04%	3.75% (Jul 2025)	1.75% (May 2025)	62.97 k	0.00	Large Cap	15.49
Honeywell Automation India Ltd.	Industrial products	5.92	153.6	1.83%	0.01%	2.05% (Jan 2025)	1.32% (Nov 2024)	4.21 k	0.00	Mid Cap	16.19
TD Power Systems Ltd.	Heavy electrical equipment	8.54	143.5	1.71%	0.02%	2.69% (Apr 2025)	1.69% (Sep 2025)	1.85 L	-0.54 L	Other	34.45
GE T&D India Ltd.	Heavy electrical equipment	8.54	142.8	1.70%	0.04%	1.79% (Aug 2025)	0.75% (Nov 2024)	47.01 k	0.00	Small Cap	29.25
S H Kelkar & Company Ltd.	Personal care	2.48	140.9	1.68%	-0.08%	1.92% (Aug 2025)	0.95% (Jan 2025)	6.37 L	0.00	Small Cap	29.25
Cyient DLM Ltd.	Industrial products	5.92	140.5	1.67%	0.11%	1.67% (Oct 2025)	1.28% (Nov 2024)	3.11 L	0.00	Other	34.45
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	8.54	139.5	1.66%	0.16%	2.49% (Apr 2025)	1.32% (Aug 2025)	5.25 L	0.00	Mid Cap	16.19
Gabriel India Ltd.	Auto components & equipments	7.17	132.9	1.58%	-0.31%	2.05% (Aug 2025)	0% (Nov 2024)	1.04 L	-0.29 L	Small Cap	29.25
Afcons Infrastructure Ltd.	Civil construction	3.4	130.2	1.55%	-0.03%	1.81% (Dec 2024)	0% (Nov 2024)	2.91 L	0.00	Other	34.45
Mahindra Lifespace Developers Ltd.	Residential, commercial projects	1.5	126.2	1.50%	0.12%	1.5% (Oct 2025)	0% (Nov 2024)	3.27 L	0.00	Small Cap	29.25
Kirloskar Oil Engines Ltd.	Compressors, pumps & diesel engines	14.69	118.3	1.41%	0.11%	1.41% (Oct 2025)	0.7% (Feb 2025)	1.18 L	0.00	Small Cap	29.25
Syngene International Ltd.	Healthcare research, analytics & technology	1.35	113.4	1.35%	0.05%	1.44% (Jul 2025)	0.72% (Nov 2024)	1.74 L	0.00	Mid Cap	16.19
KSB Ltd.	Compressors, pumps & diesel engines	14.69	113.4	1.35%	0.03%	1.35% (Oct 2025)	0.22% (Nov 2024)	1.43 L	8.73 k	Other	34.45
Bharat Electronics Ltd.	Aerospace & defense	2.66	111.6	1.33%	0.06%	1.82% (Nov 2024)	1.16% (Jul 2025)	2.62 L	0.00	Mid Cap	16.19
Hindustan Aeronautics Ltd.	Aerospace & defense	2.66	111.4	1.33%	-0.02%	2.37% (Apr 2025)	1.04% (Nov 2024)	23.80 k	0.00	Other	34.45
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	6.09	107	1.28%	0.07%	1.29% (Apr 2025)	1.09% (May 2025)	63.28 k	0.00	Large Cap	15.49
ITC Limited	Diversified fmcg	3.1	105.1	1.25%	0.05%	2.02% (Nov 2024)	0% (Nov 2024)	2.50 L	0.00	Large Cap	15.49
Tata Power Co. Ltd.	Integrated power utilities	1.24	104.1	1.24%	0.05%	2.35% (Apr 2025)	1.16% (Aug 2025)	2.57 L	0.00	Mid Cap	16.19
Vinati Organics Ltd.	Specialty chemicals	1.7	103.7	1.24%	-0.07%	1.41% (Jun 2025)	0.62% (Jan 2025)	62.73 k	0.00	Other	34.45
Arvind Ltd.	Garments & apparels	1.19	99.8	1.19%	0.05%	1.45% (Apr 2025)	0.73% (Nov 2024)	3.13 L	0.00	Small Cap	29.25
TVS Motor Company Ltd.	2/3 wheelers	3.51	92.6	1.10%	0.02%	2.12% (Apr 2025)	1.09% (Sep 2025)	26.38 k	0.00	Mid Cap	16.19
- 3M India Ltd.	Diversified	1.1	92.1	1.10%	0.00%	1.2% (Apr 2025)	1.01% (Jun 2025)	3.12 k	0.00	Mid Cap	16.19
Kirloskar Pneumatic Co. Ltd.	Compressors, pumps & diesel engines	14.69	87.5	1.04%	-0.08%	1.65% (Apr 2025)	0% (Nov 2024)	78.20 k	0.00	Small Cap	29.25
Larsen & Toubro Ltd.	Civil construction	3.4	83.1	0.99%	0.09%	0.99% (Oct 2025)	0% (Nov 2024)	20.62 k	0.00	Large Cap	15.49
Texmaco Rail & Engineering Ltd.	Industrial products	5.92	79.7	0.95%	-0.01%	1.38% (Jan 2025)	0.95% (Oct 2025)	5.84 L	0.00	Small Cap	29.25
Siemens Ltd.	Heavy electrical equipment	8.54	79.6	0.95%	-0.01%	1.65% (May 2025)	0% (Nov 2024)	25.70 k	0.00	Large Cap	15.49
Motherson Sumi Wiring India Ltd.	Auto components & equipments	7.17	78.4	0.94%	0.03%	1.17% (Apr 2025)	0.71% (Jul 2025)	16.61 L	0.00	Other	34.45
Campus Activewear Ltd.	Footwear	0.93	78.1	0.93%	0.03%	0.93% (Oct 2025)	0% (Nov 2024)	2.79 L	0.00	Other	34.45
Schaeffler India Ltd.	Auto components & equipments	7.17	76.6	0.91%	-0.05%	2.72% (Apr 2025)	0.89% (Aug 2025)	19.06 k	0.00	Other	34.45
Roto Pumps Ltd.	Compressors, pumps & diesel engines	14.69	75.1	0.90%	-0.10%	1.6% (May 2025)	0% (Nov 2024)	10.72 L	0.00	Other	34.45
Kennametal India Ltd.	Industrial products	5.92	74.8	0.89%	-0.01%	0.91% (Aug 2025)	0.69% (Jul 2025)	35.85 k	0.00	Small Cap	29.25
- ISGEC Heavy Engineering Ltd.	Civil construction	3.4	72	0.86%	0.00%	1.34% (Dec 2024)	0.38% (Nov 2024)	81.88 k	0.00	Other	34.45
Abbott India Ltd.	Pharmaceuticals	6.09	69.8	0.83%	-0.01%	1.55% (Nov 2024)	0.65% (May 2025)	2.41 k	0.00	Mid Cap	16.19
Foseco India Ltd.	Chemicals - speciality	0.82	68.9	0.82%	0.05%	0.91% (Aug 2025)	0.31% (Nov 2024)	12.07 k	0.00	Small Cap	29.25
Gujarat Gas Ltd.	Gas transmission/marketing	0.8	67.1	0.80%	-0.05%	0.96% (Jan 2025)	0.54% (Nov 2024)	1.65 L	0.00	Other	34.45
Gillette India Ltd.	Personal care	2.48	66.8	0.80%	-0.04%	0.93% (Jul 2025)	0% (Nov 2024)	7.41 k	0.00	Mid Cap	16.19
- K.P.R. Mill Ltd.	Other textile products	0.79	66.3	0.79%	0.00%	0.82% (Jul 2025)	0% (Nov 2024)	61.97 k	0.00	Other	34.45
Siemens Energy India Ltd.	Power generation	0.7	58.5	0.70%	-0.06%	1.12% (Aug 2025)	0% (Nov 2024)	18.35 k	0.00	Other	34.45
J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	6.09	57.4	0.68%	-0.01%	1.1% (Nov 2024)	0.46% (May 2025)	34.09 k	0.00	Other	34.45
Ador Welding Ltd.	Electrodes & refractories	0.82	52.5	0.63%	0.09%	0.63% (Oct 2025)	0.22% (Nov 2024)	48.97 k	2.19 k	Small Cap	29.25
Cipla Ltd.	Pharmaceuticals	6.09	51.4	0.61%	0.00%	0.66% (Aug 2025)	0% (Nov 2024)	34.26 k	0.00	Large Cap	15.49
JNK India Ltd.	Industrial products	5.92	49	0.58%	0.02%	1.06% (Dec 2024)	0.56% (Sep 2025)	1.67 L	0.00	Other	34.45
Tata Steel Ltd.	Iron & steel products	0.96	47.9	0.57%	0.04%	0.57% (Oct 2025)	0% (Nov 2024)	2.62 L	0.00	Other	34.45
# TML Commercial Vehicles Ltd.	Commercial vehicles	0.57	47.7	0.57%	0.57%	0.57% (Oct 2025)	0% (Nov 2024)	1.83 L	1.83 L	Other	34.45
# LG Electronics India Pvt. Ltd.	Consumer electronics	0.53	44.9	0.53%	0.53%	0.53% (Oct 2025)	0% (Nov 2024)	26.96 k	26.96 k	Other	34.45
DEE Development Engineers Ltd.	Construction projects	0.52	43.6	0.52%	-0.02%	0.61% (Jun 2025)	0.17% (Nov 2024)	1.69 L	0.00	Other	34.45
# Bosch Ltd.	Auto components & equipments	7.17	42.1	0.50%	0.50%	0.5% (Oct 2025)	0% (Nov 2024)	1.13 k	1.13 k	Large Cap	15.49
- Onesource Specialty Pharma Ltd.	Pharmaceuticals	6.09	40.5	0.48%	0.00%	0.5% (Aug 2025)	0% (Nov 2024)	21.85 k	0.00	Other	34.45
Hitachi Energy India Ltd.	Heavy electrical equipment	8.54	33.6	0.40%	-0.01%	1.66% (Apr 2025)	0.25% (Nov 2024)	1.89 k	0.00	Other	34.45
Ratnamani Metals & Tubes Ltd.	Iron & steel products	0.96	32.8	0.39%	0.01%	0.39% (Oct 2025)	0% (Nov 2024)	13.54 k	332.00	Small Cap	29.25
Savita Oil Technologies Ltd.	Lubricants	0.36	30.4	0.36%	-0.01%	0.43% (Dec 2024)	0.24% (Nov 2024)	76.98 k	0.00	Other	34.45
S.J.S. Enterprises Ltd.	Auto components & equipments	7.17	27.5	0.33%	0.03%	0.33% (Oct 2025)	0% (Nov 2024)	17.02 k	0.00	Other	34.45
- Bikaji Foods International Ltd.	Packaged foods	0.3	25	0.30%	-0.01%	0.33% (Aug 2025)	0% (Nov 2024)	34.15 k	0.00	Other	34.45
Kirloskar Ferrous Industries Ltd.	Pig iron	0.28	23.5	0.28%	0.04%	0.28% (Oct 2025)	0% (Nov 2024)	45.42 k	7.74 k	Small Cap	29.25
# Pidilite Industries Ltd.	Specialty chemicals	1.7	20.8	0.25%	0.25%	0.25% (Oct 2025)	0% (Nov 2024)	14.40 k	14.40 k	Large Cap	15.49
Godfrey Phillips India Ltd.	Cigarettes & tobacco products	0.24	20	0.24%	-0.02%	0.33% (Apr 2025)	0% (Nov 2024)	6.48 k	0.00	Small Cap	29.25
Galaxy Surfactants Ltd.	Specialty chemicals	1.7	17.5	0.21%	0.01%	0.21% (Oct 2025)	0% (Nov 2024)	7.86 k	478.00	Small Cap	29.25
Orient Refractories Ltd.	Electrodes & refractories	0.82	16.3	0.19%	0.01%	0.2% (Aug 2025)	0% (Nov 2024)	34.16 k	0.00	Small Cap	29.25
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	3.51	1.8	0.02%	0.00%	0% (Dec 2025)	0% (Dec 2025)	1.75 L	0.00	Other	34.45
Quality Power Electrical Equipments Ltd.	Heavy electrical equipment	8.54	16.6	0.00%	-0.20%	-	-	-	-	Other	34.45
Tata Motors Ltd.	Passenger cars & utility vehicles	5.42	107.4	0.00%	-1.29%	-	-	-	-	Large Cap	15.49

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Pidilite Industries Ltd.	Specialty chemicals	20.8	0.25%	0.25%	0.25% (Oct 2025)	0% (Nov 2024)	14.40 k	14402
# Bosch Ltd.	Auto components & equipments	42.1	0.50%	0.50%	0.5% (Oct 2025)	0% (Nov 2024)	1.13 k	1131
# TML Commercial Vehicles Ltd.	Commercial vehicles	47.7	0.57%	0.57%	0.57% (Oct 2025)	0% (Nov 2024)	1.83 L	182785
# LG Electronics India Pvt. Ltd.	Consumer electronics	44.9	0.53%	0.53%	0.53% (Oct 2025)	0% (Nov 2024)	26.96 k	26962

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Quality Power Electrical Equipments Ltd.	Heavy electrical equipment	16.6	0.00%	-0.20%	0.5% (Feb 2025)	0% (Nov 2024)	0.00	-15526
Tata Motors Ltd.	Passenger cars & utility vehicles	107.4	0.00%	-1.29%	1.29% (Sep 2025)	0% (Nov 2024)	0.00	-157873

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
Shakti Pumps (India) Ltd.	5.12%	5.12%	5.11%	5.42%	3.87%	3.34%	3.23%	3.84%	3.77%	3.63%	3.34%	2.39%	2.34%
Mahindra & Mahindra Ltd.	3.56%	3.51%	3.31%	3.99%	3.68%	3.47%	4.19%	2.91%	3.08%	3.02%	3.73%	3.60%	2.24%
Cummins India Ltd.	2.93%	2.66%	3.12%	3.23%	3.80%	3.68%	3.63%	3.91%	3.80%	3.36%	3.56%	3.70%	2.78%
Manorama Industries Ltd.	3.48%	3.49%	3.43%	3.69%	3.73%	3.80%	3.91%	3.53%	3.42%	3.11%	2.40%	0.64%	0.21%
Garware Hi-Tech Films Ltd.	3.35%	2.90%	2.68%	3.30%	3.92%	4.42%	3.34%	3.64%	3.69%	2.42%	1.91%	1.60%	0.94%
Bharat Forge Ltd.	2.02%	1.86%	1.71%	1.73%	1.90%	2.29%	2.27%	3.48%	4.26%	4.36%	4.35%	2.84%	2.05%
Carraro India Ltd.	2.91%	2.54%	2.31%	2.60%	2.41%	2.44%	2.22%	1.87%	2.13%	3.23%	3.23%	-	-
Hero Motocorp Ltd.	2.39%	2.36%	3.17%	2.55%	2.48%	2.55%	2.52%	2.50%	2.70%	2.70%	2.04%	2.28%	1.83%
Hindustan Unilever Ltd.	1.85%	1.90%	3.60%	3.75%	3.52%	1.75%	1.95%	2.12%	2.24%	2.15%	1.90%	2.00%	-
Tata Consumer Products Ltd.	-	-	-	-	-	-	-	2.18%	2.29%	2.54%	2.22%	2.27%	1.39%
TD Power Systems Ltd.	1.71%	1.69%	1.97%	2.12%	2.03%	2.35%	2.69%	2.60%	2.14%	1.93%	1.95%	2.27%	2.09%
Grindwell Norton Ltd.	2.02%	1.91%	1.90%	1.79%	1.97%	2.06%	2.16%	2.21%	1.95%	2.22%	2.08%	2.23%	2.40%
Bharat Bijlee Ltd.	2.83%	2.54%	2.25%	1.76%	1.79%	1.73%	1.89%	1.79%	1.67%	1.74%	1.84%	1.70%	-
Tata Power Co. Ltd.	1.24%	1.20%	1.16%	2.21%	2.21%	2.16%	2.35%	2.35%	2.32%	2.11%	1.72%	1.77%	1.93%
Bharat Heavy Electricals Ltd.	1.66%	1.50%	1.32%	1.45%	1.59%	1.96%	2.49%	2.23%	2.02%	1.99%	1.92%	2.05%	2.00%