M O N T H L Y F A C T S H E E T N O V E M B E R Schemes - Product Labeling

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1 TIMES M O N T H L Y F A C T S H E E T N O V E M B E R Schemes - Product Labeling Name of the Scheme This product is suitable for Investors who are seeking* Riskometer Taurus Starshare (Multi Cap) Fund Multi Cap Fund - An open ended equity scheme investing across large cap, mid cap, small cap stocks. Taurus Largecap Equity Fund Large Cap Fund - An open ended equity scheme predominately investing in large cap stocks. Taurus Discovery (Midcap) Fund Midcap Fund - An Open ended equity scheme predominantly investing in mid cap stocks. Taurus Nifty Index Fund An open ended scheme replicating / tracking Nifty 50 index. Taurus Tax Shield An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit Taurus Ethical Fund An open ended equity scheme with investment in stocks from S&P BSE 500 Shariah Index universe. Taurus Infrastructure Fund An Open ended equity scheme investing in Infrastructure sector. Taurus Banking & Financial Services Fund An open ended equity scheme investing in stocks belonging to Banking & Financial Services (BFSI) sector. Taurus Liquid Fund An open - ended liquid scheme Long term capital appreciation Investment in equity & equity related instruments - multi-cap in nature Long term capital appreciation Investment in equity & equity related instruments - focus on large cap stocks Long term capital appreciation Investment in equity & equity related instruments predominantly in mid-cap stocks Long term capital appreciation Investment in equity securities by replicating Nifty 50 Long term capital appreciation Investment in equity & equity related instruments Long term capital appreciation Investment in equity & equity related instruments based on the principles of Shariah Long term capital appreciation Investment in equity & equity related instruments of companies from Infrastructure Sector Long term capital appreciation Investment in equity & equity related instruments of companies from Banking & Financial sector Short term capital appreciation & current income with low risk & high liquidity Investment in Money Market Instruments /Short Term Debt Instruments upto a maturity of 91 days. Low LOW Low Moderately Moderate Moderately High High HIGH Investors understand that their principal will be at moderately high risk Low LOW Low Moderately Moderate Moderately High High HIGH Investors understand that their principal will be at high risk Low Moderately Moderate Moderately High Low High LOW HIGH Investors understand that their principal will be at low risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Mutual Fund investments are subject to market risks, read all scheme related documents carefully

2 TAURUS STARSHARE (MULTI CAP) FUND- (earlier known as Taurus Starshare Fund) (An open ended equity scheme investing across large cap, mid cap, small cap stocks) SCHEME FEATURES Investment Objective The basic objective of the Scheme is to provide long-term capital appreciation. Emphasis will be on sharing growth through appreciation as well as on distribution of income by way of dividend. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment January 29, 1994 Benchmark S&P BSE 500 TRI Benchmark Index changed w.e.f. 23/03/2018 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.50% if exited on or before 180 days Nil if exited after 180 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: `61.76 (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Month End TER: *Please refer Annexure 1 Quantitative Data Regular Plan : Sharpe Ratio: 0.00 Standard Deviation: Beta: 1.05 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 3.75 Fund Manager's Comment: We continue to scout opportunities in a range-bound but a volatile market in terms of stock price movements. We maintain a positive stance on unique opportunities even as we maintain bias towards high quality large cap stocks widely distributed across sectors maintaining a judicious blend of large cap and mid-cap stocks. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets HDFC Bank Ltd. 8.77% Reliance Industries Ltd. 6.32% Housing Development Finance Corporation Ltd. 6.10% Larsen & Toubro Ltd. 5.33% ICICI Bank Ltd. 5.29% Axis Bank Ltd. 4.05% ITC Ltd. 3.46% Infosys Ltd. 3.18% Tata Consultancy Services Ltd. 3.09% State Bank of India 2.21% Total Top 10 Holdings 47.80% Total Equity 97.69% Cash & Cash Receivables 2.31% Total % Banks Consumer Non Durables Finance Software Pharmaceuticals Petroleum Products Industrial Capital Goods Construction Project Auto Industrial Products Cement Consumer Durables Gas Media & Entertainment Services Pesticides Ferrous Metals Auto Ancillaries Non - Ferrous Metals DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Net Dividend per unit(`) Net Dividend Per unit(`) *October *September *August *The above rate is net off Dividend Distribution Tax Pursuant to payment of dividend, the NAV of the Scheme fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to ww.taurusmutualfund.com 1 As on 30th November 2018

3 TAURUS ETHICAL FUND - (An open ended equity scheme with investment in stocks from S&P BSE 500 Shariah Index universe.) SCHEME FEATURES Investment Objective To provide capital appreciation and income distribution to unitholders through investment in a diversified portfolio of equities, which are based on the principles of Shariah. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment April 6, 2009 Benchmark S&P BSE 500 Shariah TRI Benchmark Index renamed w.e.f. 01/02/2018 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.50% if exited on or before 180 days Nil if exited after 180 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) (B) per unit. Direct Plan: ` (D), (G) (B) per unit. Note : Bonus option discontinued for fresh / additional subscription w.e.f. 15/06/2015 NAV Calculation: All Business days. Month End TER: *Please refer Annexure 1 Quantitative Data Regular Plan : Sharpe Ratio: 0.08 Standard Deviation: Beta: 0.91 Fund Manager's Comment: Here, investment strategy is stock specific through bottom up approach. Considering the volatility in the market we have chosen to remain well diversified across sectors. Portfolio is underweight in Auto and IT sector while being overweight in Oil and Gas, Consumption, pharma and Capital Goods. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets Tata Consultancy Services Ltd. 5.17% Infosys Ltd. 4.98% GAIL (India) Ltd. 2.73% ABB India Ltd. 2.66% Torrent Pharmaceuticals Ltd. 2.50% Dr. Reddy's Laboratories Ltd. 2.46% Berger Paints India Ltd. 2.22% 3M India Ltd. 2.17% Petronet LNG Ltd. 1.97% Trent Ltd. 1.94% Total Top 10 Holdings 28.79% Total Equity 98.28% Cash & Cash Receivables 1.72% Total % Software Pharmaceuticals Consumer Non Durables Consumer Durables Gas Industrial Products Cement Industrial Capital Goods Auto Ancillaries Retailing Auto Commercial Services Fertilisers Healthcare Services Textile Products Non - Ferrous Metals Transportation (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 2.35 DIVIDEND HISTORY The scheme has not declared any dividend As on 30th November

4 TAURUS INFRASTRUCTURE FUND - (An Open ended equity scheme investing in Infrastructure sector) SCHEME FEATURES Investment Objective To provide capital appreciation and income distribution to unitholders by investing predominantly in equity and equity related securities of the companies belonging to infrastructure sector and it's related industries. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment March 5, 2007 Benchmark Nifty Infrastructure Index TRI Benchmark Index changed w.e.f. 23/03/2018 Monthly AUM Monthly Average AUM: ` 4.32 Cr. Month End AUM: ` 4.35 Cr. Load Structure Entry Load - NIL Exit Load % if exited on or before 7 days. Nil, if exited after 7 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Fund Manager's Comment: True to its mandate, the portfolio maintained its character for infrastructure themes. Infrastructure remains an important pillar of India growth story. Sector has been under pressure since last few years due to multiple factors. We expect the sector to outperform in the coming times. With all eyes on growth in this space, companies with good financial health and strong ratios now have improved outlook and we continue to expect these stocks to move up as Government thrust increases. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets Larsen & Toubro Ltd. 9.88% Reliance Industries Ltd. 7.45% Indraprastha Gas Ltd. 3.95% Mahindra & Mahindra Ltd. 3.85% Engineers India Ltd. 3.82% AIA Engineering Ltd. 3.39% MRF Ltd. 3.09% Container Corporation of India Ltd. 2.97% Power Grid Corporation of India Ltd. 2.85% Havells India Ltd. 2.36% Total Top 10 Holdings 43.61% Total Equity 98.23% Cash & Cash Receivables 1.77% Total % Construction Project Industrial Products Auto Ancillaries Net Asset Value (NAV) Consumer Durables 8.53 Face Value `10/- Regular Plan: `22.65 (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Petroleum Products Gas Auto Industrial Capital Goods Month End TER: *Please refer Annexure 1 Cement Construction Power Quantitative Data Regular Plan : Sharpe Ratio: 0.36 Standard Deviation: Beta: 0.87 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 2.26 Transportation Ferrous Metals Consumer Non Durables Hotels, Resorts And Other Recreational Activities Commercial Services Fertilisers DIVIDEND HISTORY The scheme has not declared any dividend Note: With reference to our Notice cum Addendum dated March 26, 2018, there is change in the Fundamental Attributes of the Scheme effective from May 03, 2018 whereby scheme classified as sectoral fund inplace of thematic fund. 3 As on 30th November 2018

5 TAURUS TAX SHIELD - ( An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit) SCHEME FEATURES Investment Objective To provide long term capital appreciation over the life of the scheme through investment predominantly in equity shares, besides tax benefits. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment March 31, 1996 Benchmark S&P BSE 200 TRI Benchmark Index renamed w.e.f. 01/02/2018 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Up to any amount (Including SIP) : NA (lock - in period of 3 years) Switch to any (Debt/Equity) schemes after 3 years; Exit Load : Nil. Minimum Application Amount: ` 500/- & multiples of ` 500/- thereafter. Liquidity Sale on all business days. As per Income Tax Laws, the redemption facility is available after a lock-in period of 3 years from the date of investment. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Month End TER: *Please refer Annexure 1 Quantitative Data Regular Plan : Sharpe Ratio: 0.36 Standard Deviation: Beta: 1.01 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 3.95 Fund Manager's Comment: The scheme will try to invest in themes which get boost from the intention and efforts of the Government to move increasingly towards recovery mode and play it through a blend of mid-cap and large cap stocks. It maintains a judicious mix of high beta and defensive at top, stock specific ideas in middle and opportunistic bets in the bottom. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION DIVIDEND HISTORY The scheme has not declared any dividend % to Net Assets HDFC Bank Ltd. 8.20% Reliance Industries Ltd. 6.08% Housing Development Finance Corporation Ltd. 5.26% ICICI Bank Ltd. 4.21% ITC Ltd. 3.64% Axis Bank Ltd. 3.59% Infosys Ltd. 3.48% Tata Consultancy Services Ltd. 3.42% Larsen & Toubro Ltd. 2.98% Hindustan Unilever Ltd. 2.73% Total Top 10 Holdings 43.57% Total Equity 97.55% Cash & Cash Receivables 2.45% Total % Banks Software Consumer Non Durables Pharmaceuticals Finance Petroleum Products Cement Consumer Durables Auto Construction Project Auto Ancillaries Fertilisers Retailing Ferrous Metals Industrial Capital Goods Commercial Services Gas Industrial Products Construction Non - Ferrous Metals As on 30th November

6 TAURUS NIFTY INDEX FUND - (An open ended scheme replicating / tracking Nifty 50 index) SCHEME FEATURES Investment Objective The investment objective of the scheme is to replicate the Nifty 50 by investing in securities of the Nifty 50 Index in the same proportion/ weightage. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment June 19, 2010 Benchmark Nifty 50 TRI Benchmark Index renamed w.e.f. 01/02/2018 Monthly AUM Monthly Average AUM: ` 9.30 Cr. Month End AUM: ` 8.47 Cr. Load Structure Entry Load - NIL Exit Load - Up to any amount (Including SIP ) 0.50% if exited on or before 180 days. Nil if exited after 180 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Month End TER: *Please refer Annexure 1 Quantitative Data Regular Plan : Sharpe Ratio: 0.23 Standard Deviation: Beta: 0.97 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 2.05 Tracking Error : 1.62 Fund Manager's Comment: The index fund continues to track the performance of its benchmark indices Nifty. The fund portfolio consists of the stocks in the same weight as they are in the Nifty Index. The strategy of the investment is to mirror the index return by minimizing the tracking error with its benchmark. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets Reliance Industries Ltd. 9.72% HDFC Bank Ltd. 9.57% Housing Development Finance Corporation Ltd. 7.86% Infosys Ltd. 6.86% ITC Ltd. 5.88% ICICI Bank Ltd. 5.25% Tata Consultancy Services Ltd. 4.36% Larsen & Toubro Ltd. 4.32% Kotak Mahindra Bank Ltd. 3.83% Hindustan Unilever Ltd. 3.23% Total Top 10 Holdings 60.87% Total Equity 99.63% Cash & Cash Receivables 0.37% Total % DIVIDEND HISTORY Banks Software Petroleum Products Consumer Non Durables Finance Auto Construction Project Pharmaceuticals Power Ferrous Metals Non - Ferrous Metals Cement Telecom -Services Oil Minerals/Mining Transportation Pesticides Media & Entertainment Gas Telecom - Equipment & Accessories Consumer Durables Month & Year Regular Plan Direct Plan Dividend per unit(`) Dividend Per unit(`) March Pursuant to payment of dividend, the NAV of the Scheme fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to 5 As on 30th November 2018

7 TAURUS LARGECAP EQUITY FUND - (An open ended equity scheme predominately investing in large cap stocks) (earlier known as Taurus Bonanza Fund) SCHEME FEATURES Investment Objective The investment objective is to provide investors long-term capital appreciation. Investments shall be primarily in Equity and Equity related instruments of large cap companies. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment February 28, 1995 Benchmark S&P BSE 100 TRI Benchmark Index renamed w.e.f. 01/02/2018 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load % if exited on or before 7 days. Nil, if exited after 7 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan:` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Month End TER: *Please refer Annexure 1 Fund Manager's Comment: Scheme has bias towards high quality large cap stocks with overweight position in Banks and consumption plays. The recent NBFC crisis indirectly helps banking sector. Consumption trends show sustained growth. Increase/decrease in weight in the cyclical commodity sector is tactical in nature. PORTFOLIO Name of the scrip EQUITY SECTOR ALLOCATION % to Net Assets Top 10 Holdings HDFC Bank Ltd. 9.25% Reliance Industries Ltd. 8.98% ICICI Bank Ltd. 5.67% Housing Development Finance Corporation Ltd. 5.51% Larsen & Toubro Ltd. 4.53% Infosys Ltd. 4.46% Tata Consultancy Services Ltd. 4.06% Axis Bank Ltd. 3.91% ITC Ltd. 3.86% Mahindra & Mahindra Ltd. 2.62% Total Top 10 Holdings 52.85% Total Equity 96.67% Cash & Cash Receivables 3.33% Total % Banks Software Finance Consumer Non Durables Petroleum Products Auto Pharmaceuticals Construction Project Cement Ferrous Metals Quantitative Data Regular Plan : Sharpe Ratio: Standard Deviation: Beta: 0.98 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 4.64 Consumer Durables Gas Non - Ferrous Metals DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Dividend per unit(`) Dividend Per unit(`) January November July Pursuant to payment of dividend, the NAV of the Scheme fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to Note: With reference to our Notice cum Addendum dated March 26, 2018, there is change in the Fundamental Attributes of the Scheme effective from May 03, 2018 whereby minimum 80% of AUM is invested in large cap stocks as defined by SEBI. As on 30th November

8 TAURUS DISCOVERY (MIDCAP) FUND - (An Open ended equity scheme predominantly investing in mid cap stocks) (earlier known as Taurus Discovery Fund) SCHEME FEATURES Investment Objective The prime objective of the Scheme is to achieve long term capital appreciation by investing in a portfolio consisting of equity and equity related securities predominantly of mid cap companies. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment September 5, 1994 Benchmark Nifty Midcap 100 TRI Benchmark Index renamed w.e.f. 02/04/2018 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.50% if exited on or before 180 days Nil if exited after 180 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Month End TER: *Please refer Annexure 1 Quantitative Data Regular Plan : Sharpe Ratio: 0.30 Standard Deviation: Beta: 0.88 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 4.64 Fund Manager's Comment: Considering the volatility in the market we have chosen to remain well diversified across emerging sectors. Companies with better visibility for growth have been preferred. We see larger upside to these ideas than some of the large well run efficient companies. As the fund remains sector-agnostic, we reiterate our call to look at stock opportunities over sector movements. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Dividend per unit(`) Dividend Per unit(`) December % to Net Assets Gruh Finance Ltd. 2.99% The Federal Bank Ltd. 2.85% Coromandel International Ltd. 2.47% DCB Bank Ltd. 2.40% Torrent Pharmaceuticals Ltd. 2.31% Mahindra & Mahindra Financial Services Ltd. 2.00% Tata Chemicals Ltd. 1.94% WABCO India Ltd. 1.90% GlaxoSmithKline Consumer Healthcare Ltd. 1.88% Exide Industries Ltd. 1.87% Total Top 10 Holdings 22.61% Total Equity 97.32% Cash & Cash Receivables 2.68% Total % Banks Pharmaceuticals Industrial Products Consumer Non Durables Auto Ancillaries Software Finance Consumer Durables Industrial Capital Goods Fertilisers Cement Retailing Hotels, Resorts And Other Recreational Activities Gas Chemicals Commercial Services Healthcare Services Ferrous Metals Textile Products Telecom - Equipment & Accessories Construction Project Construction Petroleum Products Auto Pursuant to payment of dividend, the NAV of the Scheme fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to Note: With reference to our Notice cum Addendum dated March 26, 2018, there is change in the Fundamental Attributes of the Scheme effective from May 03, 2018 whereby minimum 65% of AUM of scheme is invested in Midcap stock as defined by SEBI As on 30th November 2018

9 TAURUS BANKING & FINANCIAL SERVICES FUND (An open ended equity scheme investing in stocks belonging to Banking & Financial Services (BFSI) sector.) SCHEME FEATURES Investment Objective The primary objective of the Scheme is to generate capital appreciation through a portfolio that invests predominantly in equity and equity related instruments of Banking, Financial and Non Banking Financial Companies that form a part of the BFSI Sector. Fund Manager Mr. Prasanna Pathak (w.e.f. June 30, 2017) Total work experience: 15 yrs Date of Allotment May 22, 2012 Benchmark S&P BSE Bankex TRI Benchmark Index renamed w.e.f. 01/02/2018 Monthly AUM Monthly Average AUM: ` 5.77 Cr. Month End AUM: ` 5.94 Cr. Load Structure Entry Load - NIL Exit Load % if exited on or before 7 days. Nil, if exited after 7 days Switch: Equity to Equity/Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Fund Manager's Comment: We have maintained a positive bias on Private Banks as the recent NBFC crisis coupled with increase in credit demand, helps them. In NBFC the exposure has been restricted to players which have clear resilience to liquidity shortage and a strong growth prospect. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets HDFC Bank Ltd % ICICI Bank Ltd % Kotak Mahindra Bank Ltd % Axis Bank Ltd % State Bank of India 4.99% IndusInd Bank Ltd. 4.94% Bajaj Finance Ltd. 4.81% The Federal Bank Ltd. 3.05% Housing Development Finance Corporation Ltd. 2.36% ICICI Prudential Life Insurance Company Ltd. 2.33% Total Top 10 Holdings 88.39% Total Equity 98.49% Cash & Cash Receivables 1.51% Total % Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), 23.23(G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Month End TER: Banks *Please refer Annexure 1 Quantitative Data Finance Regular Plan : Sharpe Ratio: 0.32 Standard Deviation: Beta: 0.94 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: DIVIDEND HISTORY The scheme has not declared any dividend As on 30th November

10 TAURUS LIQUID FUND - (AN OPEN-ENDED LIQUID SCHEME) SCHEME FEATURES Investment Objective To generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of money market securities and high quality debt. Fund Manager Mr. Dheeraj Singh - (w.e.f. June 30, 2017) Total work exp. 25 yrs PORTFOLIO Name of the scrip Industry / Rating % to Net Assets Triparty Repo The Clearing Corporation of India Ltd TOTAL - TRIPARTY REPO CASH & CASH RECEIVABLES 1.76 Total Date of Allotment August 31, 2006 Benchmark Crisil Liquid Fund Index Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - NIL Switch to any (Debt/Equity) schemes; exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Growth & Weekly plan Rs & multiple of Rs.1 thereafter Daily divided Rs. 1,00,000 & multiple of Rs.1 thereafter Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `1000/- Face Value changed from `10 to `1000 w.e.f. 20/02/2010. Historical NAV adjusted as per new Face value of `1000 Regular Plan: Super Institutional ` (D), (G), (W) per unit. Direct Plan: Super Institutional ` (D), (G), (W) per unit. NAV Calculation: All Calender days Asset Allocation Triparty Repo Cash & Cash Receivables Rating Profile Triparty Repo Cash & Cash Receivables Month End TER: *Please refer Annexure 1 Quantitative Data Portfolio Yield : 6.21% Average Maturity Period: 0.01 years Modified Duration : 0.01 years DIVIDEND HISTORY The scheme has not declared any dividend. Note: W.e.f. May 03, 2018, three Income Schemes viz ; Taurus Ultra Short Term Bond Fund, Taurus Short Term Income Fund and Taurus Dynamic Income Fund stand merged with Taurus Liquid Fund. 9 As on 30th November 2018

11 Total Expense Ratio (TER) for Taurus Mutual Fund Schemes Annexure - 1* Scheme No. Scheme Name Date (DD/MM/YYYY) Base TER (%) 1 Additional expense as per Regulation 52(6A)(b) (%) 2 Regular Plan Direct Plan Additional expense as per Regulation 52(6A)(c) (%) 3 GST (%) 4 Total TER (%) Base TER (%) 1 Additional expense as per Regulation 52(6A)(b) (%) 2 Additional expense as per Regulation 52(6A)(c) (%) 3 GST (%) 4 Total TER (%) TBF Taurus Largecap Equity Fund TBFS Taurus Banking & Financial Services TDF Taurus Discovery (Midcap) Fund TEF Taurus Ethical Fund TISF Taurus Infrastructure Fund TLF Taurus Liquid Fund TLF-RP Taurus Liquid Fund - Retail* TNI Taurus Nifty Index Fund TSS Taurus Starshare (Multi Cap) Fund TTS Taurus Tax Shield # - Existing old plans closed for further subscription ## - Taurus Ultra Short Term Bond Fund, Taurus Short Term Income Fund and Taurus Dynamic Income Fund schemes are merged with Taurus Liquid Fund wef Base TER excludes additional expenses provided in Regulation 52(6A)(b) and 52(6A)(c) of SEBI (Mutual Funds) Regulations, 1996 and Goods and Services Tax (GST) on investment and advisory fees as per applicable rate. 2. Additional Expenses not exceeding 0.30% in terms of Regulation 52(6A)(b) of SEBI (Mutual Funds) Regulations, Additional Expenses not exceeding 0.05% (0.20% till 4th June 2018 ) in terms of Regulation 52(6A)(c) of SEBI (Mutual Funds) Regulations, Present GST rate is 18 %. 5. Percentages mentioned above are annualized. 6. Base TER of direct plan shall have a lower expense ratio excluding distribution expenses, commission, etc., and no commission shall be paid from such plans.

12 Fund Manager's Comment (Equity Schemes): Rising crude prices and currency depreciation, the key macro concerns for the market, have alleviated significantly. Crude oil prices have corrected by 29% to USD61/barrel from the recent peak of USD86/barrel in October, while the INR too has recovered appreciating from a low of 74/$ to 70/$. With credit growth numbers showing some pick up, we need to wait for the liquidity squeeze on NBFC's to tide over. Infact bankers are suggesting that there is an increasing willingness to lend to firms and households. On the global front, China and US have attempted to bridge their differences via new talks aimed at reaching a deal. This helped ease the global trade tensions, at least temporarily. Going forward, upcoming OPEC meet and outcome of assembly elections in Dec 18 will be crucial for sustaining the current rally. SCHEME PERFORMANCE FUND MANAGER WISE (As on 30th November 2018) Mr. Prasanna Pathak Designation: Fund Manager - Equity Mr. Prasanna Pathak is PGDBM (Finance) from S.P. Jain, Mumbai with 15 years of experience. Prior to joining Taurus Asset Management Co. Ltd, Prasanna Pathak was associated with organizations like Hindustan Unilever as research analyst for 2 years, UTI Mutual Fund as Asst. Fund Manager & research analyst for 4.5 years, Taurus Mutual Fund as Fund Manager-Equity for 1.5 years & IndiaFirst Life as Fund Manager-Equity for 5.5 years Responsibilities: At Taurus Mutual Fund, he has been managing all the Equity Schemes Taurus Starshare (Multi Cap) Fund - Regular Plan Growth Option Scheme (5.62) 9, , , , S&P BSE 500 TRI (Benchmark) , , , NA* NA* Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : ) Taurus Starshare (Multi Cap) Fund - Direct Plan Growth Option Scheme (5.48) 9, , , , S&P BSE 500 TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : ) Taurus Ethical Fund - Regular Plan Growth Option Scheme , , , , S&P BSE 500 Shariah TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 49.99) Taurus Ethical Fund - Direct Plan Growth Option Scheme , , , , S&P BSE 500 Shariah TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 52.25) * Benchmark value for inception date is not available 10

13 Taurus Infrastructure Fund - Regular Plan Growth Option Scheme (5.63) 9, , , , Nifty Infrastructure Index TRI (Benchmark) (10.52) 8, , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 24.12) Taurus Infrastructure Fund - Direct Plan Growth Option Scheme (5.05) 9, , , , Nifty Infrastructure Index TRI (Benchmark) (10.52) 8, , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 25.17) Taurus Tax Shield - Regular Plan Growth Option Scheme , , , , S&P BSE 200 TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 75.66) Taurus Tax Shield - Direct Plan Scheme , , , , S&P BSE 200 TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 78.82) Taurus Nifty Index Fund - Regular Plan Growth Option Scheme , , , , Nifty 50 TRI (Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : ) Taurus Nifty Index Fund - Direct Plan Growth Option Scheme , , , , Nifty 50 TRI (Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : )

14 Taurus Largecap Equity Fund - Regular Plan Growth Option Scheme (2.40) 9, , , , S&P BSE 100 TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 72.04) Taurus Largecap Equity Fund - Direct Plan Growth Option Scheme (1.69) 9, , , , S&P BSE 100 TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 75.52) Taurus Discovery (Midcap) Fund - Regular Plan Growth Option Scheme (6.61) 9, , , , Nifty Midcap 100 TRI (Benchmark) (11.17) 8, , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 41.85) Taurus Discovery (Midcap) Fund-Direct Plan-Growth Option Scheme (6.19) 9, , , , Nifty Midcap 100 TRI (Benchmark) (11.17) 8, , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 43.04) Taurus Banking & Financial Services Fund - Regular Plan Growth Option Scheme , , , , S&P BSE Bankex Index TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 23.23) Taurus Banking & Financial Services Fund - Direct Plan Growth Option Scheme , , , , S&P BSE Bankex Index TRI (Benchmark) , , , , Nifty 50 TRI (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 24.67) Past performance may or may not be sustained in the future. Returns are calculated on compounded annualised basis (CAGR). Based on the applicable NAV as on the last business day of the month/period. Returns are given separately for Regular & Direct Plan - Growth option. Different Plans have different expense structure. Mr. Prasanna Pathak is the Fund Manager - All the Equity Schemes w.e.f. June 30,

15 Fund Manager's Comment (Fixed Income Schemes): Significant developments/data releases in November 2018 were as under: CPI based inflation for October 2018 came in at 3.31% vs 3.77% seen in the previous month. This inflation print is a 13 month low, and is also well below RBI's target of 4%. Core CPI inflation was however higher at 6.18% vs 5.81% seen last month. WPI based inflation for October 2018, however, came in at 5.28% vs 5.13% in the previous month. Core WPI inflation also rose to 5.15% from the 4.88% print seen last month. YoY growth in the index of industrial production (IIP) came in at 4.5% for September India's trade deficit widened to USD Bn in October compared to USD Bn a year ago. Trade deficit in the April-October period widened to USD billion as against USD Bn a year ago. Imports rose 17.62% to USD Bn while exports jumped 17.82% to USD Bn in October. India's GDP growth for Q2 of FY (Quarter ended September 2018) came in at a lower than expected 7.1%. While this is lower than the 8.2% growth recorded in the previous quarter, India remains one of the fastest growing economies in the world. The fiscal deficit for the period April-October has breached the budgeted fiscal deficit figure for the full year. It stood at 103.9% of the full year budgeted deficit at INR 6.5 trn. The government also released revised growth statistics for the previous decade by rebasing the GDP based on series to By this exercise the average growth for the period 2005 to 2012 came down to 6.9% compared to 8.2% in the original series. International crude oil prices fell sharply during the month. The benchmark ICE Brent Futures Contract for 3 months delivery fell to levels below USD 60 per barrel. Nymex WTI contract fell to approx. USD 50 per barrel. The Indian Rupee too rose in sympathy with the fall in oil prices and closed the month trading at approx to the US dollar. RBI conducted open market purchase of securities worth crores during the month, to infuse enduring liquidity into the money market. The much awaited RBI board meeting also took place during the third week of the month. Amongst measures announced were the postponement of meeting Basel III requirements for banks by a year to 2020 and setting up of a committee (jointly by RBI and Government) to discuss and give recommendations on the issue of "Economic Capital Requirement" of RBI The benchmark 10 year government bond closed the month trading at a yield of 7.61%, down by 17 basis point from the closing levels of the previous month. Yield on 10 year AAA PSU bond traded at approx. 8.65%, a fall of 5 basis points from the previous month. One year CDs yielded about 8.30%, lower by 5 basis points over the previous month. Mr. Dheeraj Singh Designation: Head of Investments and Fund Manager - Fixed Income Mr. Dheeraj Singh is B.E (Hons), PGD in Management from IIM Bangalore with over 25 years of experience. Prior to that, he served as Head Fixed Income with Sundaram Asset Management Company. He has extensive experience of consultancy in Banking & Financial Service industry. Responsibilities: He is the Head - Investments for the all the Schemes of Taurus Mutual Fund. He monitors the Equity & Debt segment investments. Taurus Liquid Fund - Regular Plan Super Institutional Growth Option Scheme , , , , Crisil liquid fund Index (Benchmark) , , , , CRISIL 1 Year T-Bill Index (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 1, ) 1, , , , Taurus Liquid Fund - Direct Plan Super Institutional Growth Option Scheme , , , , Crisil liquid fund Index (Benchmark) , , , , CRISIL 1 Year T-Bill Index (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on November 30, 2018 : 1, ) 1, , , , Past performance may or may not be sustained in the future. Returns are calculated on compounded annualised basis (CAGR). Based on the applicable NAV as on the last Calendar day of the month/period. Returns are given separately for Regular & Direct Plan - Growth option. Different Plans have different expense structure. Mr. Dheeraj Singh is the Fund Manager - Fixed Income w.e.f. June 30,

16 SIP Returns in Equity Schemes (As on 30th November 2018) Taurus Starshare (Multi Cap) Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 500 TRI) (% CAGR) Taurus Starshare (Multi Cap) Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 500 TRI) (% CAGR) Taurus Ethical Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 500 Shariah TRI) (% CAGR) Taurus Ethical Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 500 Shariah TRI) (% CAGR) Taurus Infrastructure Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (Nifty Infrastructure Index TRI) (% CAGR) Taurus Infrastructure Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (Nifty Infrastructure Index TRI) (% CAGR) Taurus Tax Shield - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 200 TRI) (% CAGR) Taurus Tax Shield - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 200 TRI) (% CAGR)

17 Taurus Nifty Index Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Taurus Nifty Index Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Taurus Largecap Equity Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 100 TRI) (% CAGR) Taurus Largecap Equity Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark Returns (S&P BSE 100 TRI) (% CAGR) Taurus Discovery (Midcap) Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark (Nifty Midcap 100 TRI) Returns (% CAGR) Taurus Discovery (Midcap) Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark (Nifty Midcap 100 TRI) Returns (% CAGR) Taurus Banking & Financial Services Fund - Regular Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark (S&P BSE Bankex TRI) Returns (% CAGR) Taurus Banking & Financial Services Fund - Direct Plan Total Amount Invested (Rs '000) Market Value as on Month End (Rs '000) Scheme Returns(% CAGR) Benchmark (S&P BSE Bankex TRI) Returns (% CAGR) Past performance may or may not be sustained in the future. Returns are calculated on compounded annualised basis (CAGR). Based on the applicable NAV as on the last business day of the month/period. Returns are given separately for Regular & Direct Plan - Growth option. Different Plans have different expense structure. 15

18 How to read Factsheet Fund Manager : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount : This I s minimum investment amount for an existing investor in a mutual fund scheme. Yield to Maturity : The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, coupon interest rate and time to maturity. SIP : SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs. 500 every 15th of the month in an equity fund for a period of three years. NAV : The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. Benchmark : A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10 - Year Gsec. Entry Load : A Mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs. 101 Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load : Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is reduced from the prevailing NAV at the time of redemption. The investor will receive redemption proceed at net value of NAV less Exit Load. For instance if the NAV is Rs. 100 and the exit load is 1% the investor will receive Rs.99. Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield Standard Deviation : Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharp Ratio : The Sharp Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta : Beta is a measure of an investment s volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM : AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings : The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manger. Nature of Scheme : The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or incoem fund. Each of these categories may have sub-categories. Rating Profile : Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the rating. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds. Tax Benefits / Consequences: The Dividend Distribution Tax on distribution of income by equity oriented fund to all the investors shall be payable at the rate of %* and no distribution of income by other than equity oriented fund to an individual / HUF shall be payable at the rate of 29.12%* and at the rate of %* on distribution of income to any other investor. Such income distributed by the Scheme(s) is free from Income tax in the hands of Investors. Units of the Scheme(s) are not subject to Wealth -tax and Gift-tax. Unitholders are required to pay Securities Transaction Tax (STT) at the rate of 0.001% at the time of redemption / switch-out of units of an equity-oriented fund. *including applicable surcharge, health and education cess. Investors should be aware that the fiscal rules/tax laws may change and there can be no guarantee that the current tax position may continue indefinitely. In view of individual nature of tax consequences, each investor is advised to consult his /her own professional tax advisor. Direct Plan was introduced for all schemes with effect from January 1,