Equity Market Overview

Transcription

1 May 2018 Equity Market Overview Indian Benchmark indices continued their strong rally in the month of April too as Sensex & Nifty ended the month up by 6.4% & 5.7% respectively. Indian benchmark indices went on to even outperform other major global indices such as Shanghai, Nikkei, Hang Seng, Dow Jones & NASDAQ. Amongst sectors, IT, FMCG, Realty and Telecom were the key outperformers. IIP growth for the month of February came at 7.1% YoY which though was slightly lower than 7.4% YoY in January but still can be considered as a strong performance for the 4th month in a row. The growth was mainly driven by a robust performance of the manufacturing sector coupled with a higher off-take of capital goods and consumer durables. The manufacturing sector, which constitutes over 77 percent of the index, grew at 8.7% in February as compared to the almost flat growth of 0.7% YoY. Similarly, capital goods output rose by a robust 20% in Feb 2018 as against a contraction of 2.4% on a YoY basis. Consumer durables grew at 7.9% as against a contraction of 4.6% in February Electricity generation also grew by 4.5% compared to 1.2% YoY. However, mining output declined by 0.3% against a growth 4.6% earlier. GST collections for March 2018 improved substantially at Rs.1,03,458 crores, recording the highest ever collections since the start of GST era in July, Trade Deficit for March 2018 rose to US$13.69bn mainly on account of higher crude imports which was up by 13.92% increase YoY. CPI inflation slowed down for the 3rd straight month to 4.28% YoY in March 2018, down from 4.4% in February. Vegetables prices grew at a slower pace of 11.70% in March compared to 17.57% a month ago, while prices of pulses continued to fall at 13.4% compared with 17.35% a month ago. Core inflation, which excludes price changes in food and energy sector, increased by 5.37% compared to a revised 5.16% in February. Fuel inflation which has seen an uptick since July eased to 5.73% in March from 6.80% in February. Brent crude prices strengthened another 11.2% in March led by output cuts by OPEC and Russia. The rupee depreciated by 2.23% during the month against the dollar to close at 66.66/USD Nifty Apr 9-Apr 13-Apr 16-Apr 20-Apr 30-Apr BSE Consumer Durables BSE Communication Technology BSE FMCG BSE Cap Goods BSE Oil & Gas -1.3% BSE Power BSE Healthcare BSE Auto BSE IT BSE Bank BSE Metal BSE Realty Major Indices Change (%) 0.5% 5.8% 5.3% 5.3% 7.6% 7.4% 7.2% 9.0% 9.9% 9.0% 12.1% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% Global Indices Nasdaq 0.04% Dow Jones 0.25% Shanghai -2.73% Nikkei 4.72% Hang Seng 2.38% Sensex 6.65% NIFTY 6.19% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% Source: Bloomberg

2 Fixed Income Overview MACRO Economic Data for the month: As on 28/03/2018 As on 27/04/2018 Change 10 year Gsec 7.40% 7.77% 37 bps 5 year Corp bonds 7.82% 8.40% 58 bps 3 months Tbill 6.09% 6.19% 10 bps 3 month Cd 7.00% 7.10% 10 bps Brent Crude $ Inflation CPI 4.44% 4.28% -16 bps INR = USD The major macro events during the month: Highlights of RBI policy on April 05, 2018: The Monetary Policy Committee (MPC) kept the policy repo rate unchanged at 6.00%. The committee, however, maintained its Neutral stance on monetary policy. The RBI lowered inflation range to 4.7%-5.1% from 5.1%-5.6% in H1 and to 4.4% from 4.5%-4.6% in H2 of FY19 with upside risk. The RBI has projected GDP growth of 7.4% for FY 2019 with optimism. RBI Policy was perceived by market as dovish; however the minutes released on 19th April 2018 were hawkish Chart showing the movement of the 10 year Gsec yield over the past 3 months 6.80 Feb-2018 Mar-2018 Apr-2018 Inflation and IIP: CPI inflation in March further eased to 4.28% YoY (February: 4.44%) mainly on account of fall in vegetable inflation. Core (ex. food & fuel) inflation increased to 5.23% YoY (February: 5.04 %) on account of rising prices for services. March WPI inflation remained almost flat at 2.47% YoY (February: 2.48%) primarily on account of fall in vegetable prices and pulses. Core inflation fell to 3.60% YOY (February: 3.90%). Fall in basic metals, non-metallic mineral products and other transport equipment drives core inflation lower. February Industrial production came in at 7.10% (January: 7.40%) providing further evidence of investment revival. The expansion was led by Manufacturing sector, which recorded a rise of 8.7%. Mining and Electricity were at -0.3% and 4.5% respectively. Growth was led by auto, machinery, metals and minerals, though partly on lower base. Trade Deficit: India March trade deficit rise to USD 13.7bn (February: USD 12bn) driven by weak petro exports and normalization of imports. Numbers imply Current Account Deficit of around 2.0% of GDP in FY18. Cumulatively, India s FY18 trade deficit widened to USD 157 Bn vis-a-vis USD 109 Bn in FY17. Liquidity: Liquidity surprisingly tightened in second half of April as against liquidity easing out in the beginning of new financial year on account of government expenditure. Money market rates of Certificate of deposits and Commercial papers hardened by bps. Chart showing the Currency movement during the past 3 months Feb-2018 Mar-2018 Apr-2018 The content of the articles in Equity Market Overview & Fixed Income Overview represent the opinions of our Fund Management/Research team. Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Information and analysis above are derived from various sources and using methods believed to be reliable, but we do not assume responsibility and liability for any consequence of the investment decision taken by you based on this analysis. Investment decision taken by readers to this article will be at their sole discretion. The purpose of this article is intended to be used as an educational discussion of the issues involved. This is not to be construed as a solicitation to buy or sell securities. Source: Internal Research 2

3 HOW TO READ FACTSHEET? 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 Amount: This is the 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 of systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposits. For instance, an investor may opt for an SIP that invest 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. 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 G-Sec. 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 Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the 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 deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is Rs. 100 and the exit load is 1%, the redemption price would be Rs. 99 per unit. 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. 3 Sharpe Ratio: The Sharpe 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 Ratio: 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 manager. Nature of : The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile: Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. 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. Total Expense Ratio: The Expenses of a mutual fund include management fees and all the fees associated with the fund's daily operations. Expense Ratio refers to the annual percentage of fund's assets that is paid out in expenses. Average Maturity: The average time of maturity of all the debt securities held in a portfolio. It states the weighted average maturity of the assets in the portfolio. Portfolio Yield: The income return on an investment. This refers to the interest or dividends received from a security and are usually expressed annually as a percentage based on the investment's cost, its current market value or its face value. Risk Free Return: The theoretical rate of return attributed to an investment with zero risk. The risk-free rate represents the interest on an investor's money that he or she would expect from an absolutely risk-free investment over a specified period of time. Tracking Error: The divergence between the price behavior of a position or portfolio and the price behavior of a benchmark. Portfolio Turnover Ratio: This is a measure of the fund's trading activity, which is computed by taking the lesser of purchases or sales (excluding all securities with maturities of less than one year) and dividing by average monthly net assets.

4 IDBI Equity Advantage Fund (IEAF) (An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit) Features The will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C. There can be no assurance that the investment objective under the scheme will be realized. Mr. V. Balasubramanian 10th September, 2013 S&P BSE 200 Index (TRI) Total Experience: Over 36 Years (Managing the since inception) NAV as on 30th April 2018 (` per unit): Growth Dividend % to Net DEBENTURES 0.01 Blue Dart Express Ltd EQUITY & EQUITY RELATED Cholamandalam Investment and Finance Co Ltd TVS Motor Company Ltd Eicher Motors Ltd Gruh Finance Ltd MRF Ltd Page Industries Ltd Pidilite Industries Ltd Kotak Mahindra Bank Ltd WABCO India Ltd VST Industries Ltd ABB India Ltd Sundaram Finance Ltd Asian Paints Ltd Industry Classification (excluding CBLO and Cash & Cash Receivables) Petroleum Products 2.05% % to Net United Breweries Ltd Nestle India Ltd Thermax Ltd Colgate Palmolive (India) Ltd Bosch Ltd Bata India Ltd GlaxoSmithKline Consumer Healthcare Ltd CRISIL Ltd The Great Eastern Shipping Company Ltd Cummins India Ltd Castrol India Ltd Blue Dart Express Ltd Sundaram Finance Holdings Ltd CBLO 0.42 Cash & Cash Receivables 0.19 TOTAL ` Crs. ` Crs. Industrial Products Consumer Durables Transportation Banks 2.14% 2.43% 3.87% 4.48% : % : % Standard Deviation : Beta : Sharpe Ratio : Portfolio Turnover Ratio^^ : 0.48 Risk free rate: Overnight MIBOR (6.00% as on 27/04/18). Source: FIMMDA. Ratios calculated on monthly 3 years data point. ^^ Lower of Purchase or Sale for one year/average AUM for one year. Chemicals 5.24% Textile Products 5.74% Industrial Capital Goods 6.71% Auto Ancillaries 12.83% Auto 14.01% Consumer Non Durables 19.78% Finance 20.10% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil. Investment under the scheme is subject to a lock-in period of 3 Years. Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Equity Advantage Fund - Dividend ( Plan) 19th March, th September, th September, IDBI Equity Advantage Fund - Dividend ( Plan) 19th March, th September, th September, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. 4 Long term capital growth An Equity Linked Savings (ELSS) investing in equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-tax Act, 1961) on their investments, subject to a statutory lock-in of three years Investors understand that their principal will be at Moderately High risk

5 IDBI India Top 100 Equity Fund (IIT100EF) (Large Cap Fund - An open-ended equity scheme predominantly investing in large cap stocks) Features The Investment objective of the is to provide investors with the apportunities for long-term capital appreciation by investing predominantly in Equity and Equity related Instruments of Large Cap companies. However there can be no assurance that the investment objective under the will be realized. Total Experience: Over 15 Years Mrs. Uma Venkatraman (Managing the since 5th September 2017) 15th May, 2012 Nifty 100 Index (TRI) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. % to Net EQUITY & EQUITY RELATED HDFC Bank Ltd Maruti Suzuki India Ltd IndusInd Bank Ltd Housing Development Finance Corpn. Ltd Britannia Industries Ltd Larsen & Toubro Ltd Titan Co. Ltd Indian Oil Corpn. Ltd ICICI Bank Ltd Procter & Gamble Hygiene & Healthcare Ltd Piramal Enterprises Ltd ABB India Ltd Bajaj Finance Ltd Eicher Motors Ltd Petronet LNG Ltd Yes Bank Ltd Indiabulls Housing Finance Ltd Asian Paints Ltd Ultratech Cement Ltd Shriram Transport Finance Co. Ltd Emami Ltd % to Net State Bank of India 2.05 Hindustan Zinc Ltd Container Corpn. of India Ltd Infosys Ltd Motherson Sumi Systems Ltd Cummins India Ltd Shree Cements Ltd Bharat Electronics Ltd Pidilite Industries Ltd Icici Prudential Life Insurance Co. Ltd Bajaj Finserv Ltd Sun TV Network Ltd Bosch Ltd TATA Steel Ltd Hero MotoCorp Ltd Godrej Consumer Products Ltd Dabur India Ltd UPL Ltd Aurobindo Pharma Ltd CBLO 3.06 Cash & Cash Receivables Total ` Crs. : % : % Standard Deviation : Beta : Sharpe Ratio : Portfolio Turnover Ratio^^ : 0.49 Risk free rate: Overnight MIBOR (6.00% as on 27/04/18). Source: FIMMDA. Ratios calculated on monthly 3 years data point. ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load : for Lumpsum - 1% for exit (Redemption Switch-out/Transfer/SWP) within 12 months from the date of allotment. for SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) within 12 months from the date of allotment of each installment. Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI India Top 100 Equity Fund - Dividend ( Plan) 19th March, st May, th May, IDBI India Top 100 Equity Fund - Dividend ( Plan) 19th March, st May, th May, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. Industry Classification (for equity & equity related) Pesticides Ferrous Metals Media & Entertainment Chemicals Industrial Products Software Transportation Non -Ferrous Metals Gas Petroleum Products Consumer Durables Pharmaceuticals Auto Ancillaries Construction Project Cement Industrial Capital Goods Auto Consumer Non Durables Finance Banks 1.21% 1.51% 1.67% 1.85% 1.93% 1.99% 2.01% 2.02% 2.42% 3.24% 3.51% 3.53% 3.54% 3.81% 4.03% 4.46% 9.01% 13.76% 14.35% 17.40% 0.00% 4.00% 8.00% 12.00% 16.00% 20.00% Disclaimer of IISL: The IDBI India Top 100 Equity Fund offered by IDBI Mutual Fund or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI India Top 100 Equity Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI India Top 100 Equity Fund linked to Nifty 100 Index or particularly in the ability of the Nifty 100 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty100 Index in the Information Document. Long term capital growth Investments predominantly in large cap equity and equity related instruments Investors understand that their principal will be at Moderately High risk

6 IDBI Diversified Equity Fund (IDEF) (Multi Cap Fund - An open-ended equity scheme investing across large cap, mid cap, small cap stocks) 6 Features The Investment objective of the is to provide investors with the opportunities for long-term capital appreciation by investing in a diversified portfolio of Equity and Equity related Instruments across market capitalization. However there can be no assurance that the investment objective under the will be realized. Total Experience: Over 11 Years Mr. Ashish Mishra (Managing the since 5th September 2017) 28th March, 2014 S&P BSE 500 Index (TRI) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. ` Crs. : % : % Standard Deviation : Beta : Sharpe Ratio : Portfolio Turnover Ratio^^ : 0.53 Risk free rate: Overnight MIBOR (6.00% as on 27/04/18). Source: FIMMDA. Ratios calculated on monthly 3 years data point. ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load : For Lumpsum - 1% for exit (Redemption/Switch-out/Transfer/SWP) within 12 months from the date of allotment. For SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) within 12 months from the date of allotment of each installment. Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Diversified Equity Fund - Dividend ( Plan) 19th March, th September, th September, IDBI Diversified Equity Fund - Dividend ( Plan) 19th March, th September, th September, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. % to Net DEBENTURES 0.01 Blue Dart Express Ltd EQUITY & EQUITY RELATED Phillips Carbon Black Ltd Eicher Motors Ltd Hindustan Unilever Ltd Bharat Forge Ltd PVR Ltd Pidilite Industries Ltd Abbott India Ltd Cholamandalam Investment and Finance Co. Ltd Britannia Industries Ltd WABCO India Ltd HDFC Bank Ltd Mahindra & Mahindra Ltd MRF Ltd Shree Cements Ltd Gillette India Ltd Camlin Fine Sciences Ltd Kotak Mahindra Bank Ltd The Great Eastern Shipping Co. Ltd Thermax Ltd Cummins India Ltd Petronet LNG Ltd Bosch Ltd VST Industries Ltd Schaeffler India Ltd. (Prev FAG Bearings India Ltd.) 1.66 Long term capital appreciation Investments in a diversified portfolio consisting of equity & equity related instruments across market capitalization Industry Classification (excluding CBLO and Cash & Cash Receivables) Ferrous Metals Consumer Durables Gas Transportation Petroleum Products Cement IndustrialCapital Goods Media&Entertainment Pharmaceuticals Auto Finance Banks IndustrialProducts Auto Ancillaries Chemicals Consumer Non Durables 0.89% 1.21% 1.93% 2.14% 2.65% 2.77% 3.43% 3.90% 4.58% % to Net SKF India Ltd Indian Oil Corpn. Ltd Procter & Gamble Hygiene & Healthcare Ltd Goodyear India Ltd IndusInd Bank Ltd ABB India Ltd Bajaj Finance Ltd Grindwell Norton Ltd Sundaram Finance Ltd Titan Co. Ltd General Insurance Corpn. of India 1.20 Jubilant Life Sciences Ltd ITC Ltd GNA Axles Ltd State Bank of India 1.11 Kansai Nerolac Paints Ltd BASF India Ltd Castrol India Ltd TATA Steel Ltd Indian Energy Exchange Ltd Precision Camshafts Ltd Sundaram Finance Holdings Ltd CBLO 5.37 Cash & Cash Receivables TOTAL % 7.65% 7.83% 10.61% 10.67% 11.52% 15.63% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% Investors understand that their principal will be at Moderately High risk

7 IDBI Nifty Index Fund (INIF) (An open-ended scheme replicating/ tracking the Nifty 50 Index [Total Returns Index]) Features The investment objective of the scheme is to invest only in and all the stocks comprising the Nifty 50 Index in the same weights of these stocks as in the Index with the objective to replicate the performance of the Total Returns Index of Nifty 50 Index. The scheme may also invest in derivatives instruments such as Futures and Options linked to stocks comprising the Index or linked to the Nifty 50 Index. The scheme will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Nifty 50 Index (Total Returns Index) and the. Total Experience: Over 15 Years Mrs. Uma Venkatraman (Managing the since 5th September 2017) 25th June, 2010 Nifty 50 Index (TRI) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. ` Crs. : % : % Portfolio Turnover Ratio^^ : 0.61 Tracking Error : % Annualised tracking error for last 12 month's period. ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Nifty Index Fund - Dividend ( Plan) 14th October, st August, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. % to Net EQUITY & EQUITY RELATED HDFC Bank Ltd Reliance Industries Ltd Housing Development Finance Corpn. Ltd ITC Ltd Infosys Ltd ICICI Bank Ltd TATA Consultancy Services Ltd Larsen & Toubro Ltd Kotak Mahindra Bank Ltd Maruti Suzuki India Ltd Hindustan Unilever Ltd IndusInd Bank Ltd State Bank of India 2.16 Axis Bank Ltd Mahindra & Mahindra Ltd Yes Bank Ltd TATA Motors Ltd Sun Pharmaceutical Industries Ltd HCL Technologies Ltd Vedanta Ltd Bharti Airtel Ltd NTPC Ltd Asian Paints Ltd Oil & Natural Gas Corpn. Ltd Hero MotoCorp Ltd Power Grid Corpn. of India Ltd Industry Classification (for equity & equity related) Pesticides Telecom - Equipment & Accessories Gas Transportation Media & Entertainment Minerals/Mining Consumer Durables Ferrous Metals Oil Telecom - Services Cement Non -Ferrous Metals Power Pharmaceuticals Construction Project Auto Consumer Non Durables Petroleum Products Finance Software Banks 0.63% 0.63% 0.66% 0.68% 0.75% 0.88% 0.97% 1.10% 1.20% 1.28% 2.04% 2.13% 2.38% 3.17% 4.07% % to Net TATA Steel Ltd Bajaj Finance Ltd Grasim Industries Ltd Ultratech Cement Ltd Indiabulls Housing Finance Ltd Eicher Motors Ltd Tech Mahindra Ltd Titan Co. Ltd Bajaj Auto Ltd Coal India Ltd Hindalco Industries Ltd Indian Oil Corpn. Ltd Bajaj Finserv Ltd Zee Entertainment Enterprises Ltd Wipro Ltd Cipla Ltd Bharat Petroleum Corpn. Ltd Adani Port and Special Economic Zone Ltd GAIL (India) Ltd Bharti Infratel Ltd UPL Ltd Dr. Reddy's Laboratories Ltd Hindustan Petroleum Corpn. Ltd Lupin Ltd CBLO 0.13 Cash & Cash Receivables 0.10 Total % 9.47% 9.93% 10.26% 12.65% 25.67% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% Disclaimer of IISL : The IDBI Nifty Index Fund offered by IDBI Mutual Fund or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI Nifty Index Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI Nifty Index Fund linked to Nifty 50 Index or particularly in the ability of the Nifty 50 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty 50 Index in the Information Document. Long Term growth in a passively managed scheme tracking Nifty 50 Index (TRI) Investments only in and all stocks comprising Nifty 50 Index in the same weight of these stocks as in Index with objective to replicate performance of Nifty 50 Index (TRI) 7 Investors understand that their principal will be at Moderately High risk

8 IDBI Nifty Junior Index Fund (INJIF) (An open-ended scheme replicating/ tracking the Nifty Next 50 Index [Total Returns Index]) Features The investment objective of the scheme is to invest only in and all the stocks comprising the Nifty Next 50 Index in the same weights of these stocks as in the Index with the objective to replicate the performance of the Total Returns Index of Nifty Next 50 Index. The scheme may also invest in derivatives instruments such as Futures and Options linked to stocks comprising the Index or linked to the Nifty Next 50 Index as and when the derivative products on the same are made available. The scheme will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Nifty Next 50 Index (Total Returns Index) and the. Total Experience: Over 15 Years Mrs. Uma Venkatraman (Managing the since 5th September 2017) 20th September, 2010 Nifty Next 50 Index (TRI) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. % To Net EQUITY & EQUITY RELATED JSW Steel Ltd Britannia Industries Ltd Motherson Sumi Systems Ltd Godrej Consumer Products Ltd Ashok Leyland Ltd Shriram Transport Finance Co. Ltd Piramal Enterprises Ltd Dabur India Ltd Shree Cements Ltd United Spirits Ltd MRF Ltd Ambuja Cements Ltd Aurobindo Pharma Ltd Bosch Ltd Marico Ltd Petronet LNG Ltd Pidilite Industries Ltd LIC Housing Finance Ltd Colgate Palmolive (India) Ltd Container Corpn. of India Ltd Bank of Baroda 1.93 ACC Ltd Havells India Ltd Interglobe Aviation Ltd Idea Cellular Ltd Bharat Heavy Electricals Ltd Industry Classification (for equity & equity related) % To Net ICICI Prudential Life Insurance Co. Ltd NMDC Ltd L&T Finance Holdings Ltd Bharat Electronics Ltd Rural Electrification Corpn. Ltd Cadila Healthcare Ltd Cummins India Ltd Avenue Supermarts Ltd Siemens Ltd Punjab National Bank 1.36 DLF Ltd Oracle Financial Services Software Ltd Procter & Gamble Hygiene & Healthcare Ltd SBI Life Insurance Co. Ltd Aditya Birla Capital Ltd Sun TV Network Ltd General Insurance Corpn. of India 1.18 Hindustan Zinc Ltd Steel Authority of India Ltd Power Finance Corpn. Ltd ABB India Ltd Emami Ltd NHPC Ltd Oil India Ltd CBLO 0.51 Cash & Cash Receivables 0.06 Total ` Crs. : % : % Portfolio Turnover Ratio^^ : 0.51 Tracking Error : % Annualised tracking error for last 12 month's period. ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil Oil 0.87% Power 0.89% Non -Ferrous Metals 1.14% Media & Entertainment 1.19% Software 1.32% Construction 1.36% Retailing 1.41% Industrial Products 1.43% Minerals/Mining 1.53% Telecom - Services 1.69% Consumer Durables 1.78% Chemicals 2.29% Gas 2.33% Auto 3.23% Banks 3.29% Transportation 3.73% Industrial Capital Goods 5.45% Ferrous Metals 5.81% Pharmaceuticals 7.04% Cement 7.23% Auto Ancillaries 9.07% Finance 14.67% Consumer Non Durables 20.67% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% Disclaimer of IISL: The IDBI Nifty Junior Index Fund offered by IDBI Mutual Fund or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI Nifty Junior Index Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI Nifty Junior Index Fund linked to Nifty Next 50 Index or particularly in the ability of the Nifty Next 50 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty Next 50 Index in the Information Document. Long Term growth in a passively managed scheme tracking Nifty Next 50 Index (TRI) Investments only in and all stocks comprising Nifty Next 50 Index in the same weight of these stocks as in Index with objective to replicate performance of Nifty Next 50 Index (TRI) 8 Investors understand that their principal will be at Moderately High risk

9 IDBI Midcap Fund (IMF) (Mid Cap Fund - An open-ended equity scheme predominantly investing in mid cap stocks.) Features The objective of the scheme is to provide investors with the opportunities for longterm capital appreciation by investing predominantly in Equity and Equity related instruments of Midcap Companies. However there can be no assurance that the investment objective under the scheme will be realized. Total Experience: Over 11 Years Mr. Ashish Mishra (Managing the since 5th September 2017) 25th January 2017 Nifty Midcap TRI NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. ` Crs. : % : % Portfolio Turnover Ratio^^ : 0.70 ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load : 1% for exit within 12 months from the date of allotment. Dividend History Record Date Individual / HUF Others (Face Value: ` 1000/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Midcap Fund - Dividend ( Plan) 19th March IDBI Midcap Fund - Dividend ( Plan) 19th March Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. % To Net EQUITY & EQUITY RELATED Phillips Carbon Black Ltd Sterlite Technologies Ltd Dewan Housing Finance Corpn. Ltd Procter & Gamble Hygiene & Healthcare Ltd 3.52 Shriram Transport Finance Co. Ltd Supreme Industries Ltd Mahindra CIE Automotive Ltd Jubilant Life Sciences Ltd The Federal Bank Ltd Trent Ltd TATA Elxsi Ltd Endurance Technologies Ltd Indraprastha Gas Ltd Minda Industries Ltd RBL Bank Ltd Finolex Cables Ltd Gillette India Ltd Akzo Nobel India Ltd Bharat Financial Inclusion Ltd Amara Raja Batteries Ltd Gujarat State Petronet Ltd Motherson Sumi Systems Ltd Dalmia Bharat Ltd CESC Ltd Minda Corpn. Ltd AIA Engineering Ltd Heritage Foods Ltd The Ramco Cements Ltd Industry Classification (for equity & equity related) Pesticides Textile Products Industrial Capital Goods Engineering Services Non -Ferrous Metals Power Retailing Consumer Durables Cement Software Telecom -Equipment &Accessories Banks Gas Chemicals Pharmaceuticals Industrial Products Finance Auto Ancillaries Consumer Non Durables % To Net Sanofi India Ltd National Aluminium Co. Ltd General Insurance Corpn. of India 1.62 Crompton Greaves Consumer Electrical Ltd Emami Ltd CCL Products (India) Ltd Info Edge (India) Ltd Johnson Controls-Hitachi Air Conditioning 1.27 India Ltd. Gujarat Gas Ltd Bosch Ltd PNB Housing Finance Ltd Cadila Healthcare Ltd Navin Fluorine Int. Ltd VA Tech Wabag Ltd BEML Ltd Aurobindo Pharma Ltd Trident Ltd Century Plyboard (India) Ltd UPL Ltd Vinati Organics Ltd Timken India Ltd Cummins India Ltd Housing And Urban Development Corpn. Ltd Preference Shares 0.06 Vedanta Ltd CBLO 3.67 Cash & Cash Receivables Total % 0.84% 0.93% 0.97% 1.68% 1.94% 2.93% 3.60% 3.67% 4.03% 4.19% 5.28% 5.50% 6.05% 6.71% 11.54% 11.80% 11.81% 12.25% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% Disclaimer of IISL: The IDBI Midcap Fund offered by IDBI Mutual Fund is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of IDBI Midcap Fund or any member of the public regarding the advisability of investing in securities generally or in the IDBI Midcap Fund linked to Nifty Free Float Midcap 100 Index or particularly in the ability of the Nifty Free Float Midcap 100 Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty Free Float Midcap 100 Index in the Information Document. Long term capital growth Investment predominantly in equity & equity related instruments of Midcap companies 9 Investors understand that their principal will be at Moderately High risk

10 IDBI Small Cap Fund (ISF) (Small Cap Fund - An open-ended equity scheme predominantly investing in small cap stocks) Features The Investment objective of the is to provide investors with the opportunities for long-term capital appreciation by investing predominantly in Equity and Equity related instruments of Small Cap companies. However there can be no assurance that the investment objective under the will be realized. Total Experience: Over 15 Years Mrs. Uma Venkatraman (Managing the since 5th September 2017) 21st June 2017 Nifty Smallcap 250 Index (TRI) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. ` Crs. : % : % Entry Load : Not Applicable Exit Load : 1% for exit within 12 months from the date of allotment. % To Net EQUITY & EQUITY RELATED General Insurance Corpn. of India M India Ltd Cholamandalam Investment and Finance Co. Ltd Camlin Fine Sciences Ltd Mahindra & Mahindra Financial Services Ltd KEI Industries Ltd V.S.T Tillers Tractors Ltd Voltas Ltd Elantas Beck India Ltd GNA Axles Ltd NRB Bearing Ltd Ahluwalia Contracts (India) Ltd Transport Corp of India Ltd JK Cement Ltd ISGEC Heavy Engineering Ltd Kansai Nerolac Paints Ltd Goodyear India Ltd V-Mart Retail Ltd AIA Engineering Ltd Cochin Shipyard Ltd NCC Ltd Grindwell Norton Ltd Ingersoll Rand (India) Ltd Muthoot Capital Services Ltd Mold-Tek Packaging Ltd Mahindra Logistics Ltd Industry Classification (for equity & equity related) Consumer Durables Minerals/Mining Gas Retailing Textile Products Pharmaceuticals Auto Banks Chemicals Commercial Services Consumer Non Durables Cement Transportation Construction Project Industrial Capital Goods Auto Ancillaries Construction Finance Industrial Products 1.03% 1.21% 1.75% 2.10% 2.32% 2.41% 2.77% 3.05% 3.28% 3.76% 3.80% 4.06% 4.10% 4.69% 5.32% 6.71% 7.02% % To Net Star Cement Ltd Cera Sanitaryware Ltd Garware Wall Ropes Ltd Timken India Ltd City Union Bank Ltd Aegis Logistics Ltd Somany Ceramics Ltd Ineos Styrolution India Ltd Dishman Carbogen Amcis Ltd ABB India Ltd Hatsun Agro Product Ltd Honeywell Automation India Ltd Vijaya Bank 1.29 Indian Energy Exchange Ltd Gravita India Ltd WABCO India Ltd Capacite Infraprojects Ltd MM Forgings Ltd Greenply Industries Ltd Sundaram Clayton Ltd Caplin Point Laboratories Ltd Sintex Plastics Technology Ltd Rajapalayam Mills Ltd CBLO 0.90 Cash & Cash Receivables 1.80 Total % 23.03% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% Long term capital growth Investment predominantly in equity & equity related instruments of Small Cap companies 10 Investors understand that their principal will be at Moderately High risk

11 IDBI Focused 30 Equity Fund (IF30EF) (An open-ended equity scheme investing in maximum 30 stocks (predominantly large cap)) Features The investment objective of the is to provide long term capital appreciation by investing in concentrated portfolio of large cap focused equity and equity related instruments of up to 30 companies and balance in debt and money market Instruments. However there can be no assurance that the investment objective of the will be realized. Mr. V. Balasubramanian 17th November, 2017 Nifty 100 Index (TRI) Total Experience: Over 36 Years (Managing the since inception) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. ` Crs. : % : % Issuer Name % To Net Issuer Name EQUITY & EQUITY RELATED HDFC Bank Ltd Larsen & Toubro Ltd Hindustan Unilever Ltd Housing Development Finance Corpn. Ltd ITC Ltd Asian Paints Ltd Mahindra & Mahindra Ltd Reliance Industries Ltd Bharat Forge Ltd TATA Steel Ltd Power Grid Corpn. of India Ltd TATA Motors Ltd Shree Cements Ltd Indiabulls Housing Finance Ltd Cipla Ltd Industry Classification (for equity & equity related) Industrial Capital Goods Gas Auto Ancillaries Pharmaceuticals Power Ferrous Metals Construction Project Cement Petroleum Products Industrial Products Banks Auto Finance Consumer Non Durables 1.06% 1.18% 2.19% 2.57% 2.93% 3.36% 4.35% 4.41% 5.25% % To Net Yes Bank Ltd ICICI Prudential Life Insurance Co. Ltd Bajaj Finserv Ltd Motherson Sumi Systems Ltd Maruti Suzuki India Ltd Mahindra CIE Automotive Ltd GlaxoSmithKline Consumer Healthcare Ltd Hindustan Petroleum Corpn. Ltd ISGEC Heavy Engineering Ltd Grasim Industries Ltd GAIL (India) Ltd Honda Siel Power Products Ltd CBLO Cash & Cash Receivables Total % 8.04% 8.56% 11.55% 13.67% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% Asset Profile Entry Load Exit Load : Not Applicable : 1% for exit within 12 months from the date of allotment % 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% % 76.18% 24.34% Equity &Equity Related CBLO Cash &Cash Receivables -0.52% Long term capital growth Investment predominantly in large cap focused equity & equity related instruments of upto 30 companies and balance in debt & money market instruments 11 Investors understand that their principal will be at Moderately High risk

12 IDBI Hybrid Equity Fund (IHEF) (An open-ended hybrid scheme investing pedominantly in equity and equity related instruments) Features The investment objective of the scheme would be to generate opportunities for capital appreciation along with income by investing in a diversified basket of equity and equity related instruments, debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be realized. Fund Managers: V. Balasubramanian (Equity Portion) Mr. Raju Sharma (Debt Portion) 24th October 2016 CRISIL Hybrid Aggressive Index Total Experience: Over 36 Years (Managing the since inception) Over 25 Years (Managing the since 3rd May, 2017) NAV as on 30th April 2018 (` per unit): Growth Dividend ` Crs. ` Crs. : % : % YTM : 8.04% Average Maturity : 5.62 Years Modified Duration : 3.98 Years Portfolio Turnover Ratio^^ : 3.08 ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load : 1% for exit within 12 months from the date of allotment. (for Lumpsum & SIP) No load on exit after the aforementioned period. Dividend History Record Date Individual / HUF Others (Face Value: ` 1000/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Hybrid Equity Fund - Monthly Dividend ( Plan) 30th October, st August, IDBI Hybrid Equity Fund - Monthly Dividend ( Plan) 30th October, st August, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. Issuer / Rating % To Net Commercial Papers 2.16 Housing & Urban Dev Corp Ltd. CARE A EQUITY & EQUITY RELATED Godrej Consumer Products Ltd. N.A 3.78 Pidilite Industries Ltd. N.A 3.61 Yes Bank Ltd. N.A 3.61 HDFC Bank Ltd. N.A 3.45 Bharat Forge Ltd. N.A 2.58 Nestle India Ltd. N.A 2.50 Dewan Housing Finance Corpn. Ltd. N.A 2.34 Aarti Industries Ltd. N.A 2.32 TVS Motor Co. Ltd. N.A 2.22 Larsen & Toubro Ltd. N.A 2.17 IndusInd Bank Ltd. N.A 2.10 Hindustan Unilever Ltd. N.A 2.01 Hero MotoCorp Ltd. N.A 1.90 ITC Ltd. N.A 1.87 Hindalco Industries Ltd. N.A 1.83 JSW Steel Ltd. N.A 1.80 Maruti Suzuki India Ltd. N.A 1.56 Exide Industries Ltd. N.A 1.49 Godrej Industries Ltd. N.A 1.46 Jain Irrigation Systems Ltd. N.A 1.42 Finolex Cables Ltd. N.A 1.40 Eicher Motors Ltd. N.A 1.38 Sundram Fasteners Ltd. N.A 1.32 Vedanta Ltd. N.A 1.32 Housing Development Finance Corpn. Ltd. N.A 1.25 Kansai Nerolac Paints Ltd. N.A 1.21 Heidelbergcement India Ltd. N.A 1.07 Aditya Birla Capital Ltd. N.A 1.06 Reliance Infrastructure Ltd. N.A 1.00 TI Financial Holdings Ltd. N.A 0.96 CESC Ltd. N.A 0.94 Fixed Deposits placed for margin purpose for Derivative Exposure Total Outstanding exposure in Derivative Instruments as on April 30, 2018: Rs /- (Market Value in Lakhs) Industry Classification (for equity & equity related) Textile Products Pharmaceuticals Software Pesticides Media & Entertainment Ferrous Metals Construction Project Power Non-Ferrous Metals Cement Auto Ancillaries Finance Chemicals Industrial Products Auto Banks Consumer Non Durables 0.53% 0.71% 0.78% 0.81% 0.98% 2.46% 2.86% 2.88% 3.15% 3.22% 3.69% Issuer / Rating % To Net JSW Energy Ltd. N.A 0.94 Birla Corpn. Ltd. N.A 0.88 UPL Ltd. N.A 0.81 Bajaj Auto Ltd. N.A 0.79 Tata Consultancy Services Ltd. N.A 0.78 Inox Leisure Ltd. N.A 0.76 IDFC Bank Ltd. N.A 0.74 Shree Cements Ltd. N.A 0.71 Aurobindo Pharma Ltd. N.A 0.71 NCC Ltd. N.A 0.69 Tata Steel Ltd. N.A 0.66 Timken India Ltd. N.A 0.66 TVS Srichakra Ltd. N.A 0.57 Sintex Plastics Technology Ltd. N.A 0.54 Raymond Ltd. N.A 0.53 Force Motors Ltd. N.A 0.34 Tube Investment of India Ltd. N.A 0.31 Century Textiles & Industries Ltd. N.A 0.31 Grasim Industries Ltd. N.A 0.24 Sun TV Network Ltd. N.A 0.21 FIXED DEPOSITS 1.77 HDFC Bank Ltd. N.A 1.77 GOV'T SECURITIES GOI 2028 SOV GOI 2027 SOV GOI 2023 SOV 2.18 Debentures 9.76 Bank of Baroda CRISIL AA Fullerton India Credit Co. Ltd. CARE AAA 1.10 LIC Housing Finance Ltd. CRISIL AAA 2.18 Punjab National Bank BWR AA 2.16 CBLO 0.94 Cash & Cash Receivables 0.43 TOTAL % 5.93% 6.59% 8.19% 9.90% 12.84% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% This product is suitable for investors who are seeking*: Long term capital appreciation with income Investments in equity & equity related instruments as well as debt and money market instruments Investors understand that their principal will be at Moderately High risk 12 Asset Profile 80.00% 60.00% 40.00% 20.00% 2.16% 0.00% % 71.14% 1.77% 13.79% 9.76% -2.50% Commercial Papers Equity &Equity Related Fixed Deposits Gov't Securities Debentures Stock Futures CBLO Cash &Cash Receivables 0.94% 2.93%

13 IDBI Equity Savings Fund (IESF) (An open-ended equity scheme investing in equity, arbitrage and debt) 13 Features The investment objective of the is to generate regular income by investing in Debt and money market instruments and using arbitrage and other derivative strategies. The also intends to generate long capital appreciation through unhedged exposure to equity and equity related instruments. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved. Mr. Raju Sharma (Debt Portion) Mrs. Uma Venkatraman (Equity Portion) Total Experience: Over 25 Years (Managing the since 3rd May, 2017) Over 15 Years (Managing the since 5th September, 2017) 7th March, % of CRISIL Liquid Fund Index + 30% CRISIL Short term Bond Fund Index + 30% of Nifty 50 Index - TRI NAV as on 30th April 2018 (` per unit): Growth Monthly Dividend Quarterly Dividend NAV: indicates that there is no investment under the option. ` Crs. ` Crs. : % : % YTM : 8.46% Average Maturity : 1.74 Years Modified Duration : 0.53 Years Portfolio Turnover Ratio^^ : 4.36 ^^ Lower of Purchase or Sale for one year/average AUM for one year. Entry Load : Not Applicable Exit Load : for Lumpsum - 1% for exit (New/ Purchase/Switch-out/Transfer/SWP) within 12 months from the date of allotment. for SIP - 1% for exit (New/ Purchase/Switch-out/Transfer/SWP) within 12 months from the date of allotment of each installment. Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Equity Savings Fund - Monthly Dividend ( Plan) 25th April, th December, th November, IDBI Equity Savings Fund - Monthly Dividend ( Plan) 25th April, th January, th October, IDBI Equity Savings Fund - Quarterly Dividend ( Plan) 20th April, th July, th March, IDBI Equity Savings Fund - Quarterly Dividend ( Plan) 29th September, th April, rd April, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. Issuer / Rating % To Net FIXED DEPOSITS 7.09 HDFC Bank Ltd. N.A 7.09 EQUITY & EQUITY RELATED GMR Infrastructure Ltd. N.A 6.97 Hindalco Industries Ltd. N.A 6.23 Jindal Steel & Power Ltd. N.A 5.90 Ultratech Cement Ltd. N.A 3.88 NCC Ltd. N.A 3.03 TVS Srichakra Ltd. N.A 2.61 Grasim Industries Ltd. N.A 2.38 ABB India Ltd. N.A 2.15 Petronet LNG Ltd. N.A 2.14 Carborundum Universal Ltd. N.A 2.14 Mahindra Logistics Ltd. N.A 2.07 Infosys Ltd. N.A 1.98 GAIL (India) Ltd. N.A 1.89 Asian Paints Ltd. N.A 1.87 Shree Cement Ltd. N.A 1.83 UPL Ltd. N.A 1.72 Shriram Transport Finance Co. Ltd. N.A 1.52 HDFC Bank Ltd. N.A 1.49 Bharat Electronics Ltd. N.A 1.42 Larsen & Toubro Ltd. N.A 1.41 Fixed Deposits placed for margin purpose for Derivative Exposure Total Outstanding exposure in Derivative Instruments as on April 30, 2018: Rs /- (Market Value in Lakhs) Industry Classification (for equity & equity related) Petroleum Products Auto Pesticides Software Transportation Auto Ancillaries Industrial Products Banks Industrial Capital Goods Finance Gas Consumer Non Durables Ferrous Metals Cement Non -Ferrous Metals Construction Project Asset Profile Rating Profile 80.00% 60.00% 40.00% 20.00% 0.00% % % 0.49% 1.54% 1.72% 1.98% 2.07% 2.61% 3.13% 3.21% 3.57% 3.99% 4.04% 4.71% 5.90% 8.09% 8.34% 11.41% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 7.09% 66.79% 21.73% % 2.45% 26.47% Fixed Coupon Bonds Equity &Equity Related Debentures Stock Futures CBLO Cash &Cash Receivables 80.00% AA % AA 60.00% AAA A % 28.91% Fixed Coupon Bonds Equity&Equity Related 20.00% 5.53% 11.05% 4.75% 7.09% Stock Futures 0.40% CBLO and Cash & 0.00% Cash Receivables % % Issuer / Rating % To Net IndusInd Bank Ltd. N.A 1.36 Nestle India Ltd. N.A 1.33 Housing Development Finance Corpn. Ltd. N.A 1.25 SREI Infrastructure Finance Ltd. N.A 1.22 Hero MotoCorp Ltd. N.A 1.13 Vedanta Ltd. N.A 1.09 Hindustan Zinc Ltd. N.A 1.01 Jain Irrigation Systems Ltd. N.A 0.99 Procter & Gamble Hygiene& HealthCare Ltd. N.A 0.79 Hindustan Unilever Ltd. N.A 0.71 Indian Oil Corpn. Ltd. N.A 0.49 Mahindra & Mahindra Ltd. N.A 0.41 State Bank of India N.A 0.35 Debentures Bank of Baroda CRISIL AA JK Cement Ltd. BWR AA 4.94 NTPC Ltd. CRISIL AAA 0.40 Piramal Enterprises Ltd. [ICRA]AA 6.11 Ujjivan Financial Services Ltd. [ICRA]A CBLO 2.45 Cash & Cash Receivables 1.94 Total %

14 Snapshot of IDBI Mutual Fund s IEAF IF30EF ISF IIT100EF INIF INJIF IHEF IESF ILQF IDBF IGF IUSTF ISTBF ICRF IDEF IMF IGFOF IDBIGOLD Benchmark S&P BSE Nifty 100 Nifty Smallcap Nifty 100 Nifty 50 Nifty Next 50 CRISIL Hybrid 40% of CRISIL Liquid Fund Index + CRISIL Crisil CRISIL Gilt CRISIL Crisil Short Crisil Short S&P BSE 500 Nifty Midcap Domestic Domestic price of Physical Gold 200 Index (TRI) Index (TRI) 250 Index (TRI) Index (TRI) Index (TRI) Index (TRI) Aggressive Index 30% CRISIL Short term Bond Fund Index + 30% of Nifty 50 Index - TRI Liquid Fund Index Composite Bond Fund Index Index Liquid Fund Index Term Bond Fund Index Term Bond Fund Index Index (TRI) TRI price of Gold Fund Manager Mr. V. Balasubramanian Mrs. Uma Venkatraman Mr. V. Balasubramanian (Equity Portion) Mrs. Uma Venkatraman (Equity portion) Mr. Raju Sharma (Debt portion) Mr. Raju Sharma (Debt portion) Mr. Raju Sharma Mr. Bhupesh Kalyani Mr. Ashish Mishra Minimum / Maximum Application Amount Minimum Investment SIP Minimum Application Amount (Lumpsum) New Purchase Rs. 5000/- and in multiples of Re. 1/- thereafter For IEAF Rs. 500/- and in multiples of Rs. 500/- thereafter Rs. 1000/- and in multiples of Re. 1/- thereafter For IEAF Rs. 500/- and in multiples of Rs. 500/- thereafter Maximum Application Amount (Lumpsum) New & Purchase: No limit Rs. 500 per month for a minimum period of 12 months. Rs per month for a minimum period of 6 months. Rs per quarter for a minimum period of 4 quarters. Only for IUSTF: Rs. 500 per day for a minimum of 30 installments continuously for all business days. Investments above minimum amount mentioned shall be made in multiples of Re.1/- for all SIP, except for IEAF it shall be made in multiples of Rs. 500/-. In case of SIP transactions, statutory lock-in period of 3 years is applicable to every installment made to IEAF. SWP & STP Minimum balance in the should be Rs.25,000/- at the time of enrollment. SWP/STP from IEAF to any other s of IDBI Mutual Fund is available only after completion of lock-in period of 3 years. STP: Sub-options for STP Eligible dates for effect Minimum amount per transfer* Daily STP amount per transfer Minimum term / duration applicable Daily (only offered under ILIQF, IUSTF and ISTBF) All Business days Rs. 200/- Rs. 200/- to less than Rs. 500/- 30 Business days Weekly 1st Business day of the week Rs. 1,000/- Rs. 500/- to less than Rs. 1,000/- 12 Business days Monthly 1st, 5th, 10th, 15th, 20th and 25th of the month Rs. 1,000/- Rs. 1,000/- and above 6 Business days Quarterly 1st, 5th, 10th, 15th, 20th and 25th of the each quarter Rs. 2,500/- Weekly & Monthly STP: 12 Installments; Quarterly STP: 4 Installments (*Multiples of Re.1/- thereafter except under IEAF where STP will be made at a minimum of Rs.500/- and in multiples of Rs.500/- thereafter.) SWP: Minimum amount for each withdrawal is Rs.1000/- and in multiples of Re.1/- thereafter for a minimum period of 6 months. Withdrawal on 25 th of each month or, if 25 th is a holiday, then the next effective business day. Full Form of SIP, SWP & STP is Systematic Investment Plan, Systematic Withdrawal Plan & Systematic Transfer Plan Plans, options and sub-options No Plan* Option Sub-option / Frequency of Dividend Mode of dividend payment 1 IEAF & Dividend NA Payout/ Sweep 2 IIT100EF & Dividend NA Reinvestment / Payout/ Sweep 3 IDEF & Dividend NA Reinvestment / Payout/ Sweep 4 INIF & Dividend NA Reinvestment / Payout/ Sweep 5 INJIF & Dividend NA Reinvestment / Payout/ Sweep 6 IMF & Dividend NA Reinvestment / Payout/ Sweep 7 ISF & Dividend NA Reinvestment / Payout/ Sweep 8 IHEF & Dividend NA Reinvestment / Payout/ Sweep 9 IF30EF & Dividend NA Reinvestment / Payout/ Sweep 10 IESF & Dividend Monthly/ Quarterly Reinvestment / Payout/ Sweep Growth / Growth with Cash Flow Plan (RCFP) NA NA 11 ILIQF & Dividend Daily/ Weekly/ Monthly Reinvestment / Payout/ Sweep 12 IUSTF & Dividend Daily/ Weekly/ Monthly Reinvestment / Payout/ Sweep Statutory Details: IDBI Mutual Fund has been set up as a trust sponsored by IDBI Bank Ltd. with IDBI MF Trustee Company Ltd. as the Trustee (Trustee under the Indian Trusts Act, 1882) and with IDBI Asset Management Ltd. as the Investment Manager. Mutual fund investments are subject to market risks, read all scheme related documents carefully. 14 For IDBI Gold : Authorized participants & Large investors - In creation unit lot of 1000 units and multiples of 1000 units thereof or in equivalent amount in cash. No Plan* Option Sub-option / Frequency of Dividend Mode of dividend payment 13 ICRF & Dividend Quarterly/Annually Reinvestment / Payout/ Sweep 14 ISTBF & Dividend Weekly/ Monthly Reinvestment / Payout/ Sweep 15 IDBF & Dividend Quarterly/Annually Reinvestment / Payout/ Sweep 16 IGF & Dividend Quarterly/Annually Reinvestment / Payout/ Sweep 17 IGFOF & *All plans other than plan will be treated as Plan. For all schemes, Sweep facility is allowed only if dividend amount is Rs.1000/- & above. The Mutual Fund is not assuring any dividend nor is it assuring that it will make any dividend distributions. All dividend distributions are subject to the availability of distributable surplus and would depend on the performance of the scheme(s) and will be at the discretion of the IDBIAMC and IDBIMF Trustee Company. Load Structure (for lumpsum & SIP) Entry Load (For normal transactions / Switch-in and SIP) Not applicable Exit Load (Redemption / Switch-out/ Transfer/ SWP): For INIF, INJIF, ILIQF, IUSTF, ISTBF & IDBIGOLD : Nil For IDBF, IHEF, IF30EF, IESF, IIT100EF, IDEF, IMF, ISF & IGFOF- 1% for exit within 12 months from the date of allotment. For IEAF: Nil. (Statutory lock-in of 3 years). For IDBI Gilt Fund: 0.50% for exit within 30 days from the date of allotment. For ICRF: 2% for exit up to & including 18 months from the date of allotment. The exit load will be applicable for both normal transactions and SIP transactions. In case of SIP, the date of allotment for each installment for subscription will be reckoned for charging exit load on redemption. - NA NA 15

15 IDBI Liquid Fund (ILIQF) (An open-ended liquid scheme) 16 Features The investment objective of the will be to provide investors with high level of liquidity along with regular income for their investment. The will endeavour to achieve this objective through an allocation of the investment corpus in a low risk portfolio of money market and debt instruments with maturity of up to 91 days. However, there can be no assurance that the investment objective of the will be realized. Total Experience: Over 25 Years Mr. Raju Sharma (Managing the since 3rd May, 2017) 9th July, 2010 CRISIL Liquid Fund Index NAV as on 30th April 2018 (` per unit): Growth Daily Dividend Weekly Dividend Monthly Dividend Bonus^ ^ Bonus option in this scheme has been discontinued from 15th July, ` 6, Crs. ` 6, Crs. : % : % YTM : 6.92% Average Maturity : 52 Days Modified Duration : 52 Days Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil Dividend History Record Date Individual / HUF Others (Face Value: ` 1000/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Liquid Fund - Monthly Dividend ( Plan) 25th April, , , th March, , , th February, IDBI Liquid Fund - Monthly Dividend ( Plan) 25th April, , , th March, , , th February, , , Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. Issuer Name Rating % To Net CERTIFICATE OF DEPOSITS IDFC Bank Ltd. [ICRA]A Ujjivan Small Finance Bank Ltd. CRISIL A IndusInd Bank Ltd. CRISIL A Equitas Small Finance Bank Ltd. CRISIL A AU Small Finance Bank Ltd. CRISIL A ICICI Bank Ltd. [ICRA]A COMMERCIAL PAPERS Reliance Industries Ltd. CRISIL A SBI Cards & Payment Services Pvt. Ltd. CRISIL A PNB Housing Finance Ltd. CRISIL A National Bank for Agriculture & Rural Development CRISIL A Cholamandalam Investment & Finance Co. Ltd. [ICRA]A National Fertilizers Ltd. [ICRA]A Indian Oil Corpn. Ltd. [ICRA]A SREI Equipment Finance Ltd. [ICRA]A IL&FS Financial Services Ltd. [ICRA]A NTPC Ltd. [ICRA]A TATA Projects Ltd. CRISIL A Capital First Ltd. [ICRA]A SBI Global Factors Ltd. CRISIL A PTC India Financial Services Ltd. CRISIL A Smartchem Technologies Ltd. [ICRA]A Navneet Education Ltd. CRISIL A TATA Power Renewable Energy Ltd. CRISIL A Maithon Power Ltd. CRISIL A Asset Profile % 80.00% 60.00% 40.00% 20.00% 0.00% % % Rating Profile % % 80.00% 60.00% 40.00% 20.00% 0.00% % % 14.22% 95.32% 81.09% 7.38% 7.38% High level of liquidity along with regular income for short term Investments in Debt / Money Market Instruments with maturity / residual maturity up to 91 days 0.37% Issuer Name Rating % To Net Housing Development Finance Corpn. Ltd. CARE A Raymond Ltd. CRISIL A JK Lakshmi Cement Ltd. CRISIL A Fiat India Automobiles Pvt. Ltd. [ICRA]A TVS Srichakra Ltd. CRISIL A IL & FS Securities Services Ltd. [ICRA]A Housing Development Finance Corpn. Ltd. CRISIL A Kirloskar Ferrous Industries Ltd. [ICRA]A APL Apollo Tubes Ltd. CRISIL A Housing & Urban Dev Corpn. Ltd. IND A Rupa & Co. Ltd. CRISIL A Sudarshan Chemical Industries Ltd. IND A Fedbank Financial Services Ltd. CRISIL A Godrej Industries Ltd. CRISIL A Century Textiles & Industries Ltd. CARE A Eveready Industries India Ltd. IND A Relaxo Footwears Ltd. [ICRA]A Cox & Kings Ltd. BWR A Fixed Deposits 7.38 Bandhan Bank Ltd. N.A 2.95 The Lakshmi Vilas Bank Ltd. N.A 4.43 Debentures 0.37 Aadhar Housing Finance Ltd. CARE AA T-Bills Reserve Bank of India SOV Cash & Cash Receivables TOTAL % 0.37% % Certificate of Deposits Commercial Papers Fixed Deposits Debentures T-Bills Cash &Cash Receivables A1+ Fixed Deposits AA+ SOV Cash &Cash Receivables 16.64% % Investors understand that their principal will be at Low risk

16 IDBI Ultra Short Term Fund (IUSTF) (An open ended ultra short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months to 6 months.#) Features The objective of the will be to provide investors with regular income for their investment by investing in debt and money market instruments with relatively lower interest rate risk, such that the Macaulay duration of the portfolio is maintained between 3 months to 6 months. However, there can be no assurance that the investment objective of the will be realized. Total Experience: Over 15 Years Mr. Bhupesh Kalyani (Managing the since 1st February, 2017) 3rd September, 2010 CRISIL Liquid Fund Index NAV as on 27th April 2018 (` per unit): Growth Daily Dividend Weekly Dividend Monthly Dividend Bonus^ ^Bonus option in this scheme has been discontinued from 15th July, ` Crs. Issuer Name Rating % To Net CERTIFICATE OF DEPOSITS IDFC Bank Ltd. [ICRA]A Ujjivan Small Finance Bank Ltd. CRISIL A Axis Bank Ltd. CRISIL A IndusInd Bank Ltd. CRISIL A The Jammu & Kashmir Bank Ltd. CRISIL A COMMERCIAL PAPERS Cox & Kings Ltd. BWR A Housing & Urban Dev Corpn. Ltd. CARE A PTC India Financial Services Ltd. CRISIL A National Bank for Agriculture & Rural Development CRISIL A PNB Housing Finance Ltd. CRISIL A Capital First Ltd. [ICRA]A SREI Equipment Finance Ltd. [ICRA]A Cholamandalam Investment & Finance Co. Ltd. [ICRA]A Asset Profile Debentures 25.38% Issuer Name Rating % To Net IL&FS Financial Services Ltd. [ICRA]A Debentures Aadhar Housing Finance Ltd. CARE AA JK Cement Ltd. BWR AA 4.20 Punjab National Bank BWR AA 2.44 ECL Finance Ltd. [ICRA]AA 2.21 Aditya Birla Finance Ltd. [ICRA]AA Power Finance Corpn. Ltd. CRISIL AAA 2.09 Cholamandalam Investment & Finance Co. Ltd. [ICRA]AA 2.09 Ujjivan Financial Services Ltd. [ICRA]A Piramal Enterprises Ltd. [ICRA]AA 1.67 Adani Transmission Ltd. IND AA CBLO 8.84 Cash & Cash Receivables 1.19 Total CBLO 8.84% Cash &Cash Rececivables 1.19% Certificate of Deposits 27.84% Commercial Papers 36.76% ` Crs. : % : % YTM : 7.35% Average Maturity : 170 Days Modified Duration : 147 Days Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil Rating Profile A+ 1.89% AAA 2.09% AA 12.61% AA+ 8.78% CBLO and Cash & Cash Receivables 10.03% A % 17 Dividend History Record Date Individual / HUF Others (Face Value: ` 1000/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Ultra Short Term Fund - Monthly Dividend ( Plan) 26th April, , , th March, , , th February, IDBI Ultra Short Term Fund - Monthly Dividend ( Plan) 26th April, , , th March, , , th February, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. # please refer to the Information Document (SID) on which the concept of Macaulay s duration has been explained. income for short term Investments in Debt/Money market instruments with relatively lower interest rate risk, such that the Macaulay duration of the portfolio is maintained between 3 months to 6 months Investors understand that their principal will be at Moderately Low risk

17 IDBI Short Term Bond Fund (ISTBF) (An open-ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year to 3 years.#) Features The investment objective of the is to provide investors with regular income by investing in debt and money market instruments, such that the Macaulay duration of the portfolio is maintained between 1 year to 3 years. However, there can be no assurance that the investment objective of the will be realized. Total Experience: Over 15 Years Mr. Bhupesh Kalyani (Managing the since 1st February, 2017) 23rd March, 2011 CRISIL Short Term Bond Fund Index NAV as on 27th April 2018 (` per unit): Growth Weekly Dividend Monthly Dividend Issuer Name Rating % To Net CERTIFICATE OF DEPOSITS 2.87 Ujjivan Small Finance Bank Ltd. CRISIL A FIXED COUPON BONDS JK Cement Ltd. BWR AA 9.31 Piramal Enterprises Ltd. [ICRA]AA 8.63 Punjab National Bank BWR AA 8.47 Reliance Gas Transportation Infra Ltd. CRISIL AAA 7.33 Export-Import Bank of India CRISIL AAA 7.29 Rural Electrification Corpn. Ltd. CRISIL AAA 7.28 Power Finance Corpn. Ltd. CRISIL AAA 7.27 Dewan Housing Finance Corpn. Ltd. BWR AAA 7.25 Tata Capital Financial Services Ltd. CRISIL AA Cholamandalam Investment & Fin Co. Ltd. [ICRA]AA 7.18 Adani Transmission Ltd. IND AA LIC Housing Finance Ltd. CRISIL AAA 4.34 Vedanta Ltd. CRISIL AA 2.88 Bank of Baroda CRISIL AA CBLO 2.58 Cash & Cash Receivables 4.32 TOTAL Asset Profile ` Crs. ` Crs. : % : % YTM : 8.48% Average Maturity : 1.53 Years Modified Duration : 1.27 Years Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil % 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Rating Profile 2.87% CBLO and Cash & Cash Receivables 6.90% AA % AAA 40.76% 90.23% 2.58% 4.32% A % Certificate of Deposits Fixed Coupon Bonds CBLO Cash &Cash Receivables AA 36.46% 18 Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Short Term Bond Fund - Monthly Dividend ( Plan) 26th March, th February, th January, IDBI Short Term Bond Fund - Monthly Dividend ( Plan) 26th April, th March, th June, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. # please refer to the Information Document (SID) on which the concept of Macaulay s duration has been explained. income for short term Investments in Debt/Money market instruments such that the Macaulay duration of the portfolio is maintained between 1 year to 3 years Investors understand that their principal will be at Moderately Low risk

18 IDBI Credit Risk Fund (ICRF) (An open-ended debt scheme predominantly investing in AA and below rated corporate bonds) Features The investment objective of the is to generate regular income and opportunities for capital appreciation by investing predominantly in AA and below rated corporate bonds across maturity spectrum. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved. Total Experience: Over 15 Years Mr. Bhupesh Kalyani (Managing the since 1st February, 2017) 3rd March, 2014 CRISIL Short Term Bond Fund Index NAV as on 27th April 2018 (` per unit): Growth Quarterly Dividend Annual Dividend ` Crs. ` Crs. Issuer Name Rating % To Net Debentures Punjab National Bank BWR AA Piramal Enterprises Ltd. [ICRA]AA Vedanta Ltd. CRISIL AA 9.60 JK Cement Ltd. BWR AA 9.53 Hindalco Industries Ltd. CRISIL AA 9.06 Reliance Jio Infocomm Ltd. CRISIL AAA 9.01 Yes Bank Ltd. [ICRA]AA 8.48 Tata Power Co. Ltd. IND AA 8.44 Indian Railway Finance Corpn. Ltd. CRISIL AAA 4.57 NTPC Ltd. CRISIL AAA 4.38 ECL Finance Ltd. [ICRA]AA 3.98 LIC Housing Finance Ltd. CRISIL AAA 1.32 CBLO 3.89 Cash & Cash Receivables 3.82 Total Asset Profile Cash & Cash Receivables 3.82% : % : % YTM : 8.97% Average Maturity : 3.35 Years Modified Duration : 2.59 Years Entry Load : Not Applicable Exit Load : for Lumpsum - 2% for exit (Redemption/Switch-out/Transfer/SWP) upto & including 18 months from the date of allotment. for SIP - 2% for exit (Redemption/Switch-out/Transfer/SWP) upto & including 18 months from the date of allotment of each installment. Rating Profile CBLO 3.89% CBLO andcash & Cash Receivables 7.71% AAA 19.28% Debentures 92.29% AA 73.01% 19 Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Credit Risk Fund - Quarterly Dividend ( Plan) 27th July, th April, th October, IDBI Credit Risk Fund - Quarterly Dividend ( Plan) 27th July, th April, th October, IDBI Credit Risk Fund - Annual Dividend ( Plan) 20th April, th March, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. income & capital appreciation through active management for at least medium term horizon Investments predominantly in AA and below rated corporate bonds across maturity spectrum Investors understand that their principal will be at Moderate risk

19 IDBI Dynamic Bond Fund (IDBF) (An open-ended dynamic debt scheme investing across duration) Features The objective of the scheme is to generate regular income while maintaining liquidity through active management of a portfolio comprising of debt and money market instruments. Total Experience: Over 25 Years Mr. Raju Sharma (Managing the since 3rd May, 2017) 21st February 2012 CRISIL Composite Bond Fund Index NAV as on 27th April 2018 (` per unit): Growth Quarterly Dividend Annual Dividend ` Crs. ` Crs. : % : % Issuer Name Rating % To Net GOV'T SECURITIES % GOI 2027 SOV % GOI 2031 SOV % GOI 2028 SOV % GOI 2023 SOV 7.95 FIXED COUPON BONDS Bank of Baroda CRISIL AA Vedanta Ltd. CRISIL AA 9.19 Piramal Enterprises Ltd. [ICRA]AA 9.18 Punjab National Bank BWR AA 9.01 JK Cement Ltd. BWR AA 8.17 LIC Housing Finance Ltd. CRISIL AAA 2.31 CBLO 0.67 Cash & Cash Receivables 6.37 Total Asset Profile CBLO 0.67% Fixed Coupon Bonds 50.47% Cash & Cash Receivables 6.37% Gov't Securities 42.49% YTM : 8.65% Average Maturity : 6.23 Years Modified Duration : 4.26 Years Entry Load : Not Applicable Exit Load : for Lumpsum - 1% for exit (Redemption/Switch-out/Transfer/SWP) on or before 12 months from the date of allotment. For SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) on or before 12 months from the date of allotment of each installment. Rating Profile AAA 2.31% AA 35.56% CBLO and Cash & Cash Receivables 7.04% SOV 42.49% AA % 20 Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Dynamic Bond Fund - Quarterly Dividend ( Plan) 27th July, th April, th October, IDBI Dynamic Bond Fund - Quarterly Dividend ( Plan) 29th September, th April, IDBI Dynamic Bond Fund - Annual Dividend ( Plan) 20th April, th March, th April, IDBI Dynamic Bond Fund - Annual Dividend ( Plan) 27th March, th April, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. Generate income along with attendant liquidity through active management of portfolio with at least medium term horizon Investments in Debt (including Government Securities) / Money Market Instruments Investors understand that their principal will be at Moderate risk

20 IDBI Gilt Fund (IGF) (An open-ended debt scheme investing in government securities across maturity) 21 Features The investment objective of the scheme would be to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of central government dated securities, state government securities and treasury bills. However, there can be no assurance that the investment objective of the scheme will be realized / achieved. Total Experience: Over 25 Years Mr. Raju Sharma (Managing the since 3rd May, 2017) 21st December, 2012 CRISIL Gilt Index NAV as on 27th April 2018 (` per unit): Growth Quarterly Dividend Annual Dividend ` Crs. ` Crs. : % : % YTM : 7.68% Average Maturity : 9.11 Years Modified Duration : 6.04 Years Entry Load : Not Applicable Exit Load : for Lumpsum % for exit (Redemption/Switch-out/Transfer/SWP) within 30 days from the date of allotment. For SIP % for exit (Redemption/Switch-out/Transfer/SWP) within 30 days from the date of allotment of each installment. Dividend History Record Date Individual / HUF Others (Face Value: ` 10/- Per Unit) Cum Dividend NAV** (in `) Ex Dividend NAV (in `) IDBI Gilt Fund - Quarterly Dividend ( Plan) 27th July, th October, th July, IDBI Gilt Fund - Quarterly Dividend ( Plan) 27th July, th October, th July, IDBI Gilt Fund - Annual Dividend ( Plan) 20th April, th March, th April, IDBI Gilt Fund - Annual Dividend ( Plan) 20th April, th March, th April, Past performance may or may not be sustained in the future. After the payment of dividend, the per unit NAV of the Dividend option of the will fall to the extent of the dividend payout and statutory levy, if any. All dividend distribution is subject to availability of distributable surplus on the record date and will be at the discretion of IDBI Asset Management Ltd. and IDBI MF Trustee Company Ltd. For complete dividend history including daily dividend history, please refer to our website. ** NAV of the record date. Issuer Name Rating % to Net GOV'T SECURITIES GOI 2028 SOV GOI 2031 SOV GOI 2023 SOV GOI 2027 SOV CBLO 6.49 Cash & Cash Receivables 1.67 TOTAL Asset Profile CBLO 6.49% Cash &Cash Receivables 1.67% Long term regular income along with capital appreciation with at least medium term horizon Investments in dated Central & State Government Securities / T-Bills / Money Market Instrument Gov t Securities 91.84% Investors understand that their principal will be at Moderate risk

21 IDBI Gold Fund (IGFOF) (An open-ended fund of fund scheme investing in IDBI Gold Exchange Traded Fund [IDBI Gold ETF]) Features The investment objective of the will be to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund. Total Experience: Over 11 Years Mr. Ashish Mishra (Managing the since 5th September 2017) 14th August, 2012 Domestic price of Gold NAV as on 27th April 2018 (` per unit): Growth ` Crs. ` Crs. : % : % Entry Load : Not Applicable Exit Load : for Lumpsum - 1% for exit (Redemption/Switch-out/Transfer/SWP) within 12 months from the date of allotment. for SIP - 1% for exit (Redemption/Switch-out/Transfer/SWP) within 12 months from the date of allotment of each installment. Issuer Name % To Net Units of IDBI Gold Exchange Traded Fund CBLO 0.53 Cash & Cash Receivables Total Asset Profile % % 80.00% 60.00% 40.00% 20.00% 0.00% % 99.64% 0.53% -0.17% Units of IDBI Gold ETF CBLO Cash&Cash Receivables The Total Expense Ratio (TER) including the weighted average of charges levied by the underlying schemes will not exceed 1.70% p.a. of the daily net assets. The maximum TER after including the additional expense towards distribution of assets to cities beyond Top 15 cities, if any, that may be charged to the will not exceed 2.00% p.a of the daily net assets. The expense ratio under direct plan shall exclude distribution expenses, commission, etc. To replicate returns of IDBI Gold ETF with atleast medium term horizon Investments in units of IDBI Gold ETF / Money Market Instruments / IDBI Liquid Fund Investors understand that their principal will be at Moderately High risk AUM REPORT FOR THE QUARTER ENDED 31/03/2018 Rs. in Lakhs Asset class wise disclosure of AUM & AAUM Disclosure of percentage of AUM by geography Category AUM as on the last day of the Quarter Average AUM for the Quarter Geographical Spread % of Total AUM as on the last day of the Quarter Income 49, , Top 5 Cities 64.47% Equity (other than ELSS) 184, , Next 10 Cities 15.74% Balanced 45, , Next 20 Cities 8.63% Liquid 368, , Next 75 Cities 7.82% Gilt 2, , Others 3.33% Equity - ELSS 64, , Total % GOLD ETF 6, , Other ETF Fund of Fund investing overseas Total 720, ,075, Note : Since IDBI Gold Fund (FOF Domestic) invests predominently in units of IDBI Gold Exchange Traded Fund, the AUM and Average AUM of IDBI Gold Fund are disclosed separately below: Rs. in Lakhs Asset class wise disclosure of AUM & AAUM Category AUM as on the last day of the Quarter Average AUM for the Quarter FOF (Domestic) 3, ,

22 23 Features To invest in physical gold and gold related instruments with the objective to replicate the performance of gold in domestic prices. The ETF will adopt a passive investment strategy and will seek to achieve the investment objective by minimizing the tracking error between the Fund and the underlying asset. Total Experience: Over 11 Years Mr. Ashish Mishra (Managing the since 5th September 2017) 9th November, 2011 Domestic price of Physical Gold NAV as on 27th April 2018 (` per unit): NAV Physical Gold Price* Cash Component * Source: Bank of Nova Scotia (Custodian for IDBI Gold ETF) ` Crs. ` Crs. : % Tracking Error : % Annualised tracking error for last 12 month's period. Entry Load : Not Applicable Exit Load (for Lumpsum & SIP) : Nil Listing: The is listed on National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Ltd. (BSE). IDBI Gold Exchange Traded Fund (IDBIGOLD) (An open-ended scheme replicating/ tracking the performance of gold in domestic prices) Issuer Name % To Net Physical Gold & Gold Related Instruments # CBLO 2.23 Cash & Cash Receivables Total # Comprises of 30 Kgs deposited in the Gold Monetisation of Bank of Nova Scotia. Asset Profile % % 80.00% 60.00% 40.00% 20.00% 0.00% % 97.84% 2.23% To replicate the performance of gold in domestic prices with at least medium term horizon Investments in physical gold and gold related instruments / debt & money market instruments Physical Gold&GoldRelated Instruments CBLO Cash &Cash Receivables -0.07% Investors understand that their principal will be at Moderately High risk NSE Disclaimer for IDBI Gold Exchange Traded Fund : It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Draft Information Document. The investors are advised to refer to the Information Document for the full text of the Disclaimer Clause of NSE. BSE Disclaimer for IDBI Gold Exchange Traded Fund : It is to be distinctly understood that the permission given by BSE Ltd. should not in any way be deemed or construed that the SID has been cleared or approved by BSE Ltd. nor does it certify the correctness or completeness of any of the contents of the SID. The investors are advised to refer to the SID for the full text of the Disclaimer Clause of BSE Ltd. Contact us IDBI Asset Management Limited (Investment Manager to IDBI Mutual Fund) CIN: U65100MH2010PLC Registered Office: IDBI Tower, WTC Complex, Cuffe parade, Colaba, Mumbai Corporate Office: 5th Floor, Mafatlal Centre, Nariman Point, Mumbai Phone: Fax: contactus@idbimutual.co.in Website: SMS: IDBIMF on Toll-free: (from any landline or mobile number across India, between 9 am-6 pm from Monday to Saturday) Our Branches: Ahmedabad : IDBI Mutual Fund, IDBI Complex, 3rd Floor, Near Lal Bungalows, Off. C G Road, Ahmedabad Tel.: / 30. Fax: Bengaluru : IDBI Mutual Fund, No.7, First Level, Unit No. 116, Prestige Centre Point, Cunningham Road, Bengaluru Tel.: Chandigarh : IDBI Mutual Fund, IDBI Bank Ltd., First Floor, SCO , Sector - 9C, Chandigarh Tel.: Chennai : IDBI Mutual Fund, No. 115, Anna Salai, P.B. No. 805, Saidapet, Chennai Tel.: Delhi : IDBI Mutual Fund, IDBI Bank, 5th Floor, Red Cross Building, Red Cross Road, Parliament Street, New Delhi Tel.: Fax: Hyderabad : IDBI Mutual Fund, 3rd Floor, /1, Chapel Road, Hyderabad Tel.: Fax: Indore : IDBI Mutual Fund, IDBI Bank Ltd., Ground Floor, 16-C, Omni Palace, Ratlam Kothi Main Road, Indore Tel.: Jaipur : IDBI Mutual Fund, D-24, Durlabh Niwas, Prithvi Raj Road, C-, Jaipur Kochi : IDBI Mutual Fund, IDBI Bank, Corporate Office, Near Passport Office, Panampally Nagar, Kochi Tel.: Kolkata : IDBI Mutual Fund, IDBI House, 6th Floor, 44, Shakespeare Sarani, Kolkata Tel.: Fax: Lucknow : IDBI Mutual Fund, IDBI Bank, 2 M G Marg, Kisan Sekhari Bhawan, Hazratganj, Lucknow Tel.: / Mumbai : IDBI Mutual Fund, Mafatlal Center, 5th Floor, Nariman Point, Mumbai Tel.: Pune : IDBI Mutual Fund, Shreenath Plaza, Office No. 91, C Wing, 5th Floor, Dyaneshwar Paduka Chowk, F. C. Road, Opp. IDBI Bank, Pune

23 SCHEME PERFORMANCE - REGULAR PLANS (As of last business day of the month) 24 s Managed by Fund Manager (FM) - Mr. V. Balasubramanian Total Experience: Over 36 Years IDBI Equity Advantage Fund (IEAF) Inception date: 10th September, 2013 Period # # Last 1 year ,870 11,714 11,900 Last 3 years ,297 14,367 13,572 Since Inception ,180 21,593 18,680 FM Managing this since inception. The Plan of this scheme is in existence for a period less than 5 years. # S&P BSE 200 Index-TRI, ## S&P BSE Sensex-TRI. s Managed by Fund Manager (FM) - Ms. Uma Venkatraman Total Experience: Over 15 Years IDBI India Top 100 Equity Fund (IIT100EF) Inception date: 15th May 2012 Period # # Last 1 year ,668 11,701 11,701 Last 3 years ,664 14,088 13,640 Last 5 years ,917 20,392 19,286 Since Inception ,960 24,948 23,443 FM Managing this since 5th September # Nifty 100 Index-TRI, ## Nifty 50 Index-TRI. IDBI Nifty Index Fund (INIF) Inception date: 25th June, 2010 Period Last 1 year ,432 11,701 Last 3 years ,867 13,640 Last 5 years ,704 19,286 Since Inception ,758 22,378 FM Managing this since 5th September # Nifty 50 Index-TRI. IDBI Nifty Junior Index Fund (INJIF) Inception date: 20th September, 2010 Period # # Last 1 year ,456 11,789 11,701 Last 3 years ,684 16,729 13,640 Last 5 years ,576 27,300 19,286 Since Inception ,084 26,578 19,650 FM Managing this since 5th September # Nifty Next 50 Index-TRI, ## Nifty 50 Index-TRI. s Managed by Fund Manager (FM) - Mr. Ashish Mishra Total Experience: Over 11 Years IDBI Diversified Equity Fund (IDEF) Inception date: 28th March, 2014 Period # # Last 1 year ,576 11,732 11,900 Last 3 years ,701 14,632 13,572 Since Inception ,250 19,220 16,663 FM Managing this since 5th September The Plan of this scheme is in existence for a period less than 5 years. # S&P BSE 500-TRI, ## S&P BSE Sensex-TRI. IDBI Midcap Fund (IMF) Inception date: 25th January, 2017 Period # # Last 1 year ,387 11,335 11,701 Since Inception ,230 13,294 12,688 FM Managing this since 5th September The Plan of this scheme is in existence for a period less than 3 years. # Nifty Midcap TRI, ## Nifty 50 Index-TRI. Managed by Fund Managers (FM) - Mr. V Balasubramanian (Equity Portion) - Total Experience: Over 36 Years & Mr. Raju Sharma (Debt Portion) Total Experience: Over 25 Years IDBI Hybrid Equity Fund (IHEF) 24th October, 2016 Period # # Last 1 year ,967 11,245 11,701 Since Inception ,359 11,962 12,542 Mr. V Balasubramanian (Equity Portion) since 24th October 2016 & Mr. Raju Sharma Managing this (Debt Portion) since 3rd May, 2017 The Plan of this scheme is in existence for a period less than 3 years. # CRISIL Hybrid Aggressive Index, ## Nifty 50 Index-TRI. Managed by Fund Managers (FM) - Mr. Raju Sharma (Debt Portion) - Total Experience: Over 25 Years & Ms. Uma Venkatraman (Equity Portion) - Total Experience: Over 15 Years IDBI Equity Savings Fund (IESF) Inception date: 7th March, 2011 Period # # Last 1 year ,344 10,954 9,901 Last 3 years ,572 12,834 11,827 Last 5 years ,615 16,194 13,129 Since Inception ,177 19,062 15,337 Mr. Raju Sharma Managing this (Debt Portion) since 3rd May 2017 & Ms. Uma Venkatraman Managing this (Equity Portion) since 5th September % of CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index + 30% of Nifty 50 Index, ## CRISIL 10 Year Gilt Index. NA Not Applicable. s Managed by Fund Manager (FM) - Mr. Raju Sharma - Total Experience: Over 25 Years IDBI Liquid Fund (ILIQF) Inception date: 9th July, 2010 Period # # Last 1 year ,677 10,685 10,613 Last 3 years ,348 12,354 12,222 Last 5 years ,676 14,730 14,008 1 month NA NA NA 2 weeks NA NA NA 1 week NA NA NA Since Inception ,610 18,285 16,826 FM Managing this since 3rd May 2017 # CRISIL Liquid Fund Index, ## CRISIL 1 Year T-Bill Index, NA Not Applicable. IDBI Dynamic Bond Fund (IDBF) Inception date: 21st February, 2012 Period # # Last 1 year ,948 10,372 9,901 Last 3 years ,269 12,450 11,827 Last 5 years ,543 14,606 13,129 Since Inception ,122 16,385 14,669 FM Managing this since 3rd May 2017 # CRISIL Composite Bond Fund Index, ## CRISIL 10 Year Gilt Index. IDBI Gilt Fund (IGF) Inception date: 21st December, 2012 Period # # Last 1 year ,720 10,176 9,901 Last 3 years ,186 12,091 11,827 Last 5 years ,222 14,001 13,129 Since Inception ,803 14,876 13,862 FM Managing this since 3rd May 2017 # CRISIL Gilt Index, ## CRISIL 10 Year Gilt Index.

24 SCHEME PERFORMANCE - REGULAR PLANS (As of last business day of the month) (contd...) s Managed by Fund Manager (FM) - Mr. Bhupesh Kalyani Total Experience: Over 15 Years IDBI Ultra Short Term Fund (IUSTF) Inception date: 3rd September, 2010 Period # # Last 1 year ,604 10,685 10,613 Last 3 years ,235 12,354 12,222 Last 5 years ,453 14,730 14,008 Since Inception ,260 18,133 16,778 FM Managing this since 1st February # CRISIL Liquid Fund Index, ## CRISIL 1 Year T-Bill Index. IDBI Short Term Bond Fund (ISTBF) Inception date: 23rd March, 2011 Period # # Last 1 year ,556 10,554 10,613 Last 3 years ,187 12,468 12,222 Last 5 years ,243 14,885 14,008 Since Inception ,308 17,832 16,336 FM Managing this since 1st February # CRISIL Short Term Bond Fund Index, ## CRISIL 1 Year T-Bill Index IDBI Credit Risk Fund (ICRF) Inception date: 3rd March, 2014 Period # # Last 1 year ,529 10,554 10,613 Last 3 years ,323 12,468 12,222 Since Inception ,780 13,992 13,456 FM Managing this since 1st February The Plan of this scheme is in existance for a period less than 5 years. # CRISIL Short Term Bond Fund Index, ## CRISIL 1 Year T-Bill Index s Managed by Fund Manager (FM) - Mr. Ashish Mishra Total Experience: Over 11 Years IDBI Gold Fund (IGFOF) Inception date: 14th August, 2012 Period Last 1 year ,405 10,661 Last 3 years ,556 11,377 Last 5 years ,145 11,316 Since Inception ,026 10,263 FM Managing this since 5th September # Domestic price of physical Gold. IDBI Gold Exchange Traded Fund (IDBIGOLD) Inception date: 9th November, 2011 Period Last 1 year ,624 10,661 Last 3 years ,169 11,377 Last 5 years ,882 11,316 Since Inception ,156 10,732 FM Managing this since 5th September # Domestic price of physical Gold. # Benchmark; ## Benchmark as per SEBI Circular dated August 22, Past performance may or may not be sustained in the future. Returns pertain to growth option under Plan. The returns are Compounded Annual Growth Returns (CAGR) for past 1 year, 3 years, 5 years & since inception period and annualised for the period below 1 year. The and Plan of IDBI Mutual Fund have different expense structure. Systematic Investment Plan (SIP) PERFORMANCE EQUITY FUNDS - REGULAR PLANS (As on 30th April, 2018) IDBI Equity Advantage Fund (IEAF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 10th September, 2013 Since Inception 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (S&P BSE 200 Index-TRI#) return (% XIRR) Benchmark (S&P BSE Sensex-TRI##) return (%XIRR) IDBI India Top 100 Equity Fund (IIT100 EF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 15th May, 2012 Since Inception 5 years 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (Nifty 100-TRI#) return (% XIRR) Benchmark (Nifty 50 Index-TRI##) return (%XIRR) IDBI Diversified Equity Fund (IDEF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 28th March, 2014 Since Inception 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (S&P BSE 500 Index-TRI#) return (% XIRR) Benchmark (S&P BSE Sensex-TRI##) return (%XIRR) IDBI Nifty Index Fund (INIF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 25th June, 2010 Since Inception 5 years 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (Nifty 50 Index-TRI #) return (% XIRR) Benchmark (Nifty 50 Index-TRI ##) return (%XIRR) IDBI Nifty Junior Index Fund (INJIF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 20th September, 2010 Since Inception 5 years 3 years 1 year Total amount invested (Rs. in '000) Market value as on30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (Nifty Next 50 Index-TRI#) return (% XIRR) Benchmark (Nifty 50 Index-TRI##) return (%XIRR) # Benchmark ## Benchmark as per SEBI Circular dated August 22, Past Performance may or may not be sustained in the future. Returns pertain to growth option under Plan and the same have been computed using XIRR by excel spreadsheet function. XIRR helps in calculating return on investments based on cash flows that are uniform and regular monthly subscriptions. The and Plan of IDBI Mutual Fund have different expense structure.

25 SCHEME PERFORMANCE - DIRECT PLANS (As of last business day of the month) 26 s Managed by Fund Manager (FM) - Mr. V. Balasubramanian Total Experience: Over 36 Years IDBI Equity Advantage Fund (IEAF) Inception date: 10th September, 2013 Period # # Last 1 year ,082 11,714 11,900 Last 3 years ,847 14,367 13,572 Since Inception ,590 21,593 18,680 FM Managing this since inception. The Plan of this scheme is in existence for a period less than 5 years. # S&P BSE 200 Index-TRI, ## S&P BSE Sensex-TRI. s Managed by Fund Manager (FM) - Ms. Uma Venkatraman Total Experience: Over 15 Years IDBI India Top 100 Equity Fund (IIT100EF) Inception date: 1st January, 2013 Period # # Last 1 year ,867 11,701 11,701 Last 3 years ,140 14,088 13,640 Last 5 years ,905 20,392 19,286 Since Inception ,750 20,250 19,244 FM Managing this since 5th September # Nifty 100 Index-TRI, ## Nifty 50 Index-TRI. IDBI Nifty Index Fund (INIF) Inception date: 1st January, 2013 Period Last 1 year ,581 11,701 Last 3 years ,327 13,640 Last 5 years ,461 19,286 Since Inception ,389 19,244 FM Managing this since 5th September # Nifty 50 Index-TRI. IDBI Nifty Junior Index Fund (INJIF) Inception date: 1st January, 2013 Period # # Last 1 year ,597 11,789 11,701 Last 3 years ,263 16,729 13,640 Last 5 years ,727 27,300 19,286 Since Inception ,790 26,392 19,244 FM Managing this since 5th September # Nifty Next 50 Index-TRI, ## Nifty 50 Index-TRI. s Managed by Fund Manager (FM) - Mr. Ashish Mishra Total Experience: Over 11 Years IDBI Diversified Equity Fund (IDEF) Inception date: 28th March, 2014 Period # # Last 1 year ,821 11,732 11,900 Last 3 years ,259 14,632 13,572 Since Inception ,300 19,220 16,663 FM Managing this since 5th September The Plan of this scheme is in existence for a period less than 5 years. # S&P BSE 500-TRI, ## S&P BSE Sensex-TRI. IDBI Midcap Fund (IMF) Inception date: 25th January, 2017 Period # # Last 1 year ,711 11,701 11,701 Since Inception ,660 13,294 12,688 FM Managing this since 5th September The Plan of this scheme is in existence for a period less than 3 years. # Nifty Midcap TRI, ## Nifty 50 Index-TRI. Managed by Fund Managers (FM) - Mr. V Balasubramanian (Equity Portion) - Total Experience: Over 36 Years & Mr. Raju Sharma (Debt Portion) Total Experience: Over 25 Years IDBI Hybrid Equity Fund (IHEF) 24th October, 2016 Period # # Last 1 year ,200 11,245 11,701 Since Inception ,728 11,962 12,542 Mr. V Balasubramanian (Equity Portion) since 24th October 2016 & Mr. Raju Sharma Managing this (Debt Portion) since 3rd May, 2017 The Plan of this scheme is in existence for a period less than 3 years. # CRISIL Hybrid Aggressive Index, ## Nifty 50 Index-TRI. Managed by Fund Managers (FM) - Mr. Raju Sharma (Debt Portion) - Total Experience: Over 25 Years & Ms. Uma Venkatraman (Equity Portion) - Total Experience: Over 15 Years IDBI Equity Savings Fund (IESF) Inception date: 1st January, 2013 Period # # Last 1 year ,499 10,954 9,901 Last 3 years ,911 12,834 11,827 Last 5 years ,152 16,194 13,129 Since Inception ,545 16,513 13,695 Mr. Raju Sharma Managing this (Debt Portion) since 3rd May 2017 & Ms. Uma Venkatraman Managing this (Equity Portion) since 5th September % of CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index + 30% of Nifty 50 Index, ## CRISIL 10 Year Gilt Index. s Managed by Fund Manager (FM) - Mr. Raju Sharma - Total Experience: Over 25 Years IDBI Liquid Fund (ILIQF) Inception date: 1st January, 2013 Period # # Last 1 year ,691 10,685 10,613 Last 3 years ,388 12,354 12,222 Last 5 years ,755 14,730 14,008 1 month NA NA NA 2 weeks NA NA NA 1 week NA NA NA Since Inception ,176 15,119 14,412 FM Managing this since 3rd May 2017 # CRISIL Liquid Fund Index, ## CRISIL 1 Year T-Bill Index, NA Not Applicable. IDBI Dynamic Bond Fund (IDBF) Inception date: 1st January, 2013 Period # # Last 1 year ,095 10,372 9,901 Last 3 years ,619 12,450 11,827 Last 5 years ,042 14,606 13,129 Since Inception ,552 15,198 13,695 FM Managing this since 3rd May 2017 # CRISIL Composite Bond Fund Index, ## CRISIL 10 Year Gilt Index. IDBI Gilt Fund (IGF) Inception date: 1st January, 2013 Period # # Last 1 year ,833 10,176 13,129 Last 3 years ,481 12,091 11,827 Last 5 years ,643 14,001 9,901 Since Inception ,173 14,672 13,695 FM Managing this since 3rd May 2017 # CRISIL Gilt Index, ## CRISIL 10 Year Gilt Index.

26 SCHEME PERFORMANCE - DIRECT PLANS (As of last business day of the month) (contd...) s Managed by Fund Manager (FM) - Mr. Bhupesh Kalyani Total Experience: Over 15 Years IDBI Ultra Short Term Fund (IUSTF) Inception date: 1st January, 2013 Period # # Last 1 year ,701 10,685 10,613 Last 3 years ,539 12,354 12,222 Last 5 years ,906 14,730 14,008 Since Inception ,361 15,119 14,412 FM Managing this since 1st February # CRISIL Liquid Fund Index, ## CRISIL 1 Year T-Bill Index. IDBI Short Term Bond Fund (ISTBF) Inception date: 1st January, 2013 Period # # Last 1 year ,681 10,554 10,613 Last 3 years ,558 12,468 12,222 Last 5 years ,883 14,885 14,008 Since Inception ,425 15,348 14,412 FM Managing this since 1st February # CRISIL Short Term Bond Fund Index, ## CRISIL 1 Year T-Bill Index. IDBI Credit Risk Fund (ICRF) Inception date: 3rd March, 2014 Period # # Last 1 year ,656 10,554 10,613 Last 3 years ,701 12,468 12,222 Since Inception ,332 13,992 13,456 FM Managing this since 1st February The Plan of this scheme is in existance for a period less than 5 years. # CRISIL Short Term Bond Fund Index, ## CRISIL 1 Year T-Bill Index s Managed by Fund Manager (FM) - Mr. Ashish Mishra Total Experience: Over 11 Years IDBI Gold Fund (IGFOF) Inception date: 1st January, 2013 Period Last 1 year ,463 10,676 Last 3 years ,716 11,559 Last 5 years ,359 11,410 Since Inception ,225 10,106 FM Managing this since 5th September # Domestic price of physical Gold. # Benchmark; ## Benchmark as per SEBI Circular dated August 22, Past performance may or may not be sustained in the future. Returns pertain to growth option under Plan. The returns are Compounded Annual Growth Returns (CAGR) for past 1 year, 3 years, 5 years & since inception period and annualised for the period below 1 year. The and Plan of IDBI Mutual Fund have different expense structure. Systematic Investment Plan (SIP) PERFORMANCE EQUITY FUNDS - DIRECT PLANS (As on 30th April, 2018) IDBI Equity Advantage Fund (IEAF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 10th September, 2013 Since Inception 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (S&P BSE 200 Index-TRI#) return (% XIRR) Benchmark (S&P BSE Sensex-TRI##) return (%XIRR) IDBI India Top 100 Equity Fund (IIT100 EF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 1st January, 2013 Since Inception 5 years 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (Nifty 100-TRI#) return (% XIRR) Benchmark (Nifty 50 Index-TRI##) return (%XIRR) IDBI Diversified Equity Fund (IDEF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 28th March, 2014 Since Inception 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (S&P BSE 500 Index-TRI#) return (% XIRR) Benchmark (S&P BSE Sensex-TRI##) return (%XIRR) IDBI Nifty Index Fund (INIF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 1st January, 2013 Since Inception 5 years 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (Nifty 50-TRI#) return (% XIRR) Benchmark (Nifty 50 Index-TRI##) return (%XIRR) IDBI Nifty Junior Index Fund (INJIF) Instalment amount: ` 10,000/- Frequency: Monthly Investment date: 1st of every month Inception date: 1st January, 2013 Since Inception 5 years 3 years 1 year Total amount invested (Rs. in '000) Market value as on 30th April, 2018 (Rs. in '000) Return (% XIRR) Benchmark (Nifty Next 50 Index-TRI #) return (% XIRR) Benchmark (Nifty 50 Index-TRI##) return (%XIRR) # Benchmark ## Benchmark as per SEBI Circular dated August 22, Past Performance may or may not be sustained in the future. Returns pertain to growth option under Plan and the same have been computed using XIRR by excel spreadsheet function. XIRR helps in calculating return on investments based on cash flows that are uniform and regular monthly subscriptions. The and Plan of IDBI Mutual Fund have different expense structure. MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

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