INDEX QUANTUM VIEW 03 QUANTUM LONG TERM EQUITY VALUE FUND - QLTEVF 06 QUANTUM TAX SAVING FUND - QTSF 10 QUANTUM EQUITY FUND OF FUNDS - QEFOF 14

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2 INDEX CONTENTS PAGE NO. QUANTUM VIEW 03 QUANTUM LONG TERM EQUITY VALUE FUND - QLTEVF 06 QUANTUM TAX SAVING FUND - QTSF 10 QUANTUM EQUITY FUND OF FUNDS - QEFOF 14 QUANTUM DYNAMIC BOND FUND - QDBF 18 QUANTUM LIQUID FUND - QLF 22 QUANTUM GOLD SAVINGS FUND - QGSF 26 QUANTUM MULTI ASSET FUND - QMAF 30 QUANTUM GOLD FUND - QGF 33 QUANTUM NIFTY ETF - QNIFTY 36 SCHEME PERFORMANCE - FUND MANAGER WISE 39 HOW TO READ THE FACTSHEET 42 STATUTORY DETAILS & RISK FACTORS 43 CONTACT US 43

3 QUANTUM VIEW FOR SEPTEMBER 2018 Equity Outlook Atul Kumar- Head - Equity Funds September turned out to be a volatile month for Indian financial markets including equities. Sensex fell by 6.21%. This was highest monthly fall in the calendar year so far. Mid cap and small cap stocks were meted even more severe treatment. Midcap index declines 12.44% while BSE Smallcap index was down 15.95% in September. For the 9 months of year 2018, Sensex has risen 7.44%. In comparison, Smallcap and Midcap have fallen 24.4% and 16.5% respectively. IT and FMCG were the two sectors which had positive returns during the month of September. Continuing currency depreciation was boon for exporters including IT services firms. Among losing sectors, real estate, telecom and banks were prominent. Markets were complacent for large parts of the year, as measured by VIX. This rose in the month of September as in early 2 months of FIIs sold stocks heavily in the month of September. Their sales were USD 1.31 Bn for the month. So far in current year, FIIs have offloaded stocks worth USD 2 Bn. Domestic institutions were buyers to the tune of USD 1.3 Bn during the month. Of this, USD 1.1 Bn came from mutual funds while insurers bought worth USD 630 Mn. USD 12.2 Bn has been pumped in equities by domestic institutions so far in current year. Indian rupee depreciated 2.1% during the month against US dollar. Market Performance at a Glance Market %* SENSEX * MIDCAP ** SMALL CAP ** BEST PERFORMER SECTORS LAGGARD SECTORS % % % IT and FMCG Telecom, Real Estate, and Banks * On Total Return Basis ** Source-Bloomberg In global markets, cost of money has risen and liquidity becomes tighter. US central bank raised interest rates by 0.25%, for the third time in There are expectations that it will hike once more in current year. Better wage growth and lesser employment are leading to tighter monetary policy in an economy which is growing strongly. Europe is also looking to reduce its asset purchases and rise in interest rates could be around the corner. Other developed countries such as UK have also been raising interest rates. Japan remains the only major economy which is unlikely to end loose monetary policy in the near future. As interest rates rise, there is risk of foreigners withdrawing from emerging markets. Most asset classes were inflated due to surge of liquidity at zero interest rates in developed markets post Lehman crisis. There could be decline in equity and other asset classes as foreigners prefer their home markets. Tariff war between US and China continues and higher duties has been implemented for goods worth USD 200 Bn. This has a disproportionate effect on Chinese economy and led to significant fall in its stock markets. There are expectations that the two countries could compromise after China making concessions. Brexit negotiations are also hanging in balance. Unfavourable outcome of the same could impact global financial markets The state of financial markets in India also was tumultuous during the month of September. It started with default made by ILFS on interest payments to some its creditors. This led to downgrade of its rating by several notches overnight. Many mutual funds were caught holding its paper in their debt schemes liquid as well as longer term schemes. They were forced to take a write down. Subsequent to this, there was news of a mutual fund selling paper of another NBFC at very high yield (meaning low price). This set rumors in debt/equity markets that there could be defaults/ liquidity crunch. Many NBFC stocks saw their stock price crashing. The contagion spread to stocks of other sectors as well. Many stocks which were quoting at rich valuations witnessed larger decline. MD of a decent size private sector bank saw non-renewal of his term by the regulator, RBI. Another bank, which listed on stock market few months back was constrained by RBI from opening new branches as it didn t meet its shareholding criteria. This was preceded by regulations from SEBI for mutual funds. SEBI announced a number of measures in investors interest including banning of upfront commission by AMCs. Regulatory risks came to the fore in the month and spooked investor wealth in those stocks. On the macroeconomic front, crude oil price surpassed USD 80/bbl as supply was constrained. Sanctions on Iran led to surge in oil. This doesn t bode well for India given the dependence on oil imports. Inflation was well contained at 3.7% for the month of August. RBI s monetary policy in early part of October has maintained status quo in interest rates. India s macro situation has worsened even as micro (companies level) continues to improve. There has been a good correction in stock prices and the same has been continuing. Many stocks which looked highly valued now seem to come within reach. We are likely to find new stocks for our portfolio and cash level can fall further. Over the long term, we remain optimistic on Indian equities. India is likely to grow faster than many nations. Investors can expect decent return from equities over a long period in future. Investors should take advantage of recent fall in stock markets and put more money. Data Source: Bloomberg 3

4 Debt Outlook Pankaj Pathak - Fund Manager - Fixed Income Persistent weakness in the Emerging Markets and surging crude oil continues to weaken the investor sentiment in bonds markets. This led to the Indian Rupee touching the low of Rs.74 per USD and the 10 year government bond yields topping at 8.23% in the past month. An additional risk emerged in the corporate bonds space after the IL&FS and its subsidiaries defaulted on their debt repayments. This spread to broader NBFC companies as concerns on refinancing impacted share prices and bond yields of many NBFC issuers. Even the AAA PSUs were not spared and 2-3 year PSU bonds got traded at around the 9.0% mark at peak. The RBI released multiple press statements to assuage the market on meeting liquidity needs of the system and also announced Open Market Operations (OMO) and Term Liquidity Repos. The RBI conducted an OMO of Rs. 200 in September and announced to purchase total of Rs. 360bn of government securities under OMO in October. The government also moved in to ease the pressure from the bond markets by cutting its second half borrowing program by Rs. 200bn. These measures led to a relief rally in the bond markets and the 10 year yield dipped below 8.0% mark on the announcements. But it could not sustain there for long and retraced back to 8.20% following sharp rise in crude oil and the US treasury yields. Another positive surprise came from the RBI as in its bi-monthly monetary policy, the MPC decided to keep the policy rates unchanged at 6.5% against the market expectations of bps hike. Bond markets cheered the move as the 10 year bond yield eased again to near 8.0% post policy announcement. With this move, the RBI has sent a message to the markets that they won t use interest rates to defend the depreciating currency. But at the same time to maintain its inflation fighting credibility they changed the policy stance from Neutral to Calibrated Tightening to indicate that if Oil prices increases they will hike the Repo Rate in the coming months. This stance also clearly indicates that the RBI will not be cutting interest rates anytime soon. In July 2013, post the global episode of taper tantrum, the RBI had hiked interest rates by 300 bps (3%) to curb speculation on the Indian Rupee, which further depressed sentiment and led to an even sharper sell off in bonds, equities and currencies. With the Indian Rupee, depreciating now, market participants and analysts have been expecting a similar reaction by the RBI in hiking interest rates. With the RBI now pausing, at a time when the Indian rupee has sold off sharply and markets expectations were riding high on a 50 bps rate hike, the RBI seems to be signaling that they don t yet see the reason to panic on the external front. The Rupee is depreciating largely due to a rise in oil prices and the RBI has quite a few other means to manage the Rupee. They can sell dollars from their Forex Reserves, open a special window for Oil companies to borrow dollars directly from the RBI, offer higher interest rates on NRI Deposits to get inflows from NRIs. The other reason for them to not hike interest rates could have also been due to the turmoil in the equity and credit markets. The issue with the default by IL&FS and the steep fall in stock prices of some banks and NBFCs has impacted sentiment in the broader market. The RBI, by hiking interest rates could have further hampered sentiment. As it is, Indian bond yields are already high enough with the 10 year government bond yield at above 8.0% and 3 year AAA PSU bonds near 9.0%. A 50 bps rate hike at this juncture may have led to a further increase in market interest rates. The RBI having already raised the interest rate by 50 bps in the last 4 months also had the comfort from the slowing inflation. CPI inflation, especially food inflation, continues to shoot below RBIs projections and the previous two pre-emptive hikes does ensure that the RBI Repo rate is ahead of the current inflation trend. However, given the trajectory of oil prices, if it stays at the current levels or moves up further, we would see the RBI hiking rates in the forthcoming policies. We thus expect the Repo rate to move up to 7.0% from the current level of 6.5% by March With the OMO support and lower borrowing, the 10 year government Bond yield may hover around 8.0% for now and move towards 8.25% if the market expects RBI to hike by more than 50 bps. As for now, we still do not expect 10 year government bond yields to go up considerable above 8.25% unless macro situation changes materially. If the INR continues to depreciate on falling equity markets and higher oil prices, we expect market interest rates to move higher from the current levels. Also, risks in the system would rise and investment sentiment will fall. In such a scenario, we would advise investors to remain invested in debt funds which prioritize safety and high liquidity and manage money with prudence by being true to the investment objective of the fund. Quantum Liquid Fund prioritizes safety and liquidity over returns and is invested only in less than 91 day maturity instruments issued by Government Securities, treasury bills and AAA Rated PSU bonds. Quantum Dynamic Bond Fund, takes higher interest risks, but does not take any credit risks and is invested only in Government Securities, treasury bills and AAA Rated PSU bonds. We have always advised investors in general to have a longer time frame if they invest in bond funds and should also note that the bond fund returns are not like fixed deposit returns and can remain highly volatile or even negative in a shorter time frame. Data Source: Bloomberg, RBI * Controller General of Accounts, Ministry of Finance 4

5 Gold Outlook Chirag Mehta - Senior Fund Manager - Alternative Investments World View Gold has been negative for six straight months now. Last time when gold had such consecutive monthly losses was all the way back in 1997; this tells how hard gold s been hit. A combination of rising U.S interest rates, a strong dollar and a hawkish Fed has been a perfect recipe for gold s dire state. However, a bruising trade conflict between the U.S. and China has failed to revive demand for gold in a big way but has lent enough support for gold to cling to the $1200 an ounce levels. Gold prices decline by -0.7% for the month of September, taking the year to date losses to -8.5%. There are plenty of loose strings impacting the global macro environment right from trade wars, Brexit uncertainty, Italian crisis to the U.S midterm elections. With most of the negatives to a large extent priced in, any of these triggers can boost gold prices. Fed hiked rate by much anticipated 0.25% but more importantly, it laid the groundwork for one more rate hike this year. Markets predict about 77% probability that there will be one last rate hike for this year in December. While the financial markets had factored the September rate hike, it was a more hawkish demeanor that reignited selling pressure in gold as it has created strong tailwinds taking the U.S. dollar higher. Fed Chairman Powell spoke about the unique and sensitive balance act that the Federal Reserve must adhere to in order to allow economic growth to continue while not letting the current economic expansion overheat. However, it s easier said than done. History suggests that the central bank has accomplished this balance only once in its 104-years of operations i.e. deliberating a soft landing i.e. Prevent overheating by raising rates but not so much that they trigger a recession. Trump intensified an ongoing trade war by rolling out 10% tariffs on $200 bn worth of Chinese exports to the U.S., while threatening levies on another $267 bn of Chinese goods. China retaliated with tariffs on another $60 bn. Even though American companies have complained that such moves will raise business costs and eventually consumer costs, this will be the second time the U.S. places duties on Chinese goods. At one end, trade tensions are good for gold. Whereas on the other end, it could boost inflation more than desired by Federal Reserve policymakers, who might feel the need to raise rates more aggressively than planned. Outlook Markets base case still remains that Trump is simply using trade tactics to secure a better deal with Beijing and at some point will make a u-turn, strike a deal and register a political win before the mid-term elections. However, Investors are reluctant to appreciate that China will not let down and is gearing up for a prolonged period of trade friction, and dismissing optionality around potential macroeconomic shocks. If the posturing is for real and we do not see a deal, it will have profound implications which should not be underestimated as it will require a rethink on trade, investments and globalization as we know it today and have profound impact on global growth, inflation and currencies. The U.S. midterm elections could play a big part in shaping the outlook for gold. In the contests, control of the House of Representatives and Senate are up for grabs. Should Democrats regain majorities; that could put them in a position to step up scrutiny of Trump s administration and might raise the likelihood of Congressional gridlock that slows the president s policy initiatives? The polls are still indicating the Democrats winning back the House of Representatives. But it looks like a close race and turnout will be critical. The major risk for Trump is losing both the US congress and senate to the democrats, and if that happened he would face tremendous pressure to do something to remedy the growing isolation of America s government in the world government community. Although the headline level for the U.S. business cycle looks healthy thanks to Trump tax cuts, there are some concerns over credit stress, making it questionable whether the U.S. consumer can withstand materially higher interest rates. The Fed s reverse QE program, along with its eight rate hikes is putting pressure on the most interest rate sensitive parts of the U.S. economy. For example, the housing market is cooling. Existing Home Sales, which makes a large chunk of the housing market, has dropped 4 months in a row and are down 1.5% year-on-year. In addition, Pending Home Sales have suffered losses 7 months in a row and slumped 2.3% YoY. Not only is the next rate decision expected to be Hawkish in 14 out of the 20 nations but the pace of monthly Quantitative Easing on a net basis is projected to drop to zero by the end of 2018, from $180 billion at its peak in March of last year. These central banks are being forced into a tightening monetary policy due to rising consumer prices and asset bubbles that have become a major risk to economic stability. Otherwise, these countries risk intractable inflation and a destructive rise in long-term interest rates. Debt levels have seen a significant rise over the past decade. Debt has increased by $70 trillion since 2007, to reach $250 trillion--an increase of over 40%! Not only has the nominal level of debt soared but the leverage ratio is up too. The world economy suffers a debt to GDP ratio of 320%; it was 270% leading up to the financial crisis. The truth is as long as the bond bubble kept inflating it was able to mask the huge imbalances built up in debt and asset values. But, it no longer will be sustainable given that central banks are now forced to run a tighter monetary policy. The world continues to remain in state of great disequilibrium, both with respect to the global economy and geopolitics as well. Given the macroeconomic picture, gold will be a useful portfolio diversification tool and thereby helping you to reduce overall portfolio risk. Data Source: Bloomberg, World Gold Council Disclaimer: The views expressed above are for general information and reading purpose only and do not constitute any guidelines and recommendations on any course of action to be followed by the reader. Quantum AMC / Quantum Mutual Fund is not guaranteeing / offering / communicating any indicative yield on investments made in the scheme(s). The views are not meant to serve as a professional guide / investment advice / intended to be an offer or solicitation for the purchase or sale of any financial product or instrument or mutual fund units for the reader. The article has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst no action has been solicited based upon the information provided herein, due care has been taken to ensure that the facts are accurate and views given are fair and reasonable as on date. Readers of this article should rely on information/data arising out of their own investigations and advised to seek independent professional advice and arrive at an informed decision before making any investments. Mutual fund investments are subject to market risks read all scheme related documents carefully For Product Lable See Page No. 21, 25. 5

6 QUANTUM LONG TERM EQUITY VALUE FUND An Open Ended Equity following a Value Investment Strategy Investment Objective : The investment objective of the is to achieve long-term capital appreciation by investing primarily in shares of companies that will typically be included in the 200 Index and are in a position to benefit from the anticipated growth and development of the Indian economy and its markets. Features ` Fund Manager & Associate Fund Manager Mr. Atul Kumar Work experience: 15 years. He has been managing this fund Since November 15, 2006 Mr. Nilesh Shetty Work experience: 14 years. He has been managing this fund Since March 28, 2011 Category of Value Fund Inception Date (Date of Allotment) March 13, 2006 Declaration of Net Asset Value (NAV) Every Business Day Entry / Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (1.24% Management Fees % GST (18% GST on 1.24% Management Fees) Direct Plan % - (1.09% Management Fees % GST (18% GST on 1.09% Management Fees) Benchmark Index Sensex Total Return Index Minimum Application Amount (Under each Option) Purchase: ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 1/- thereafter/ 50 units Investment Options Growth & Dividend (Dividend Option will in turn have two Facilities, Dividend Payout Facility and Dividend Re-investment Facility) Redemption Proceeds Processed through RTGS/NEFT mode on T+3 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+3 basis from the date of transaction where the required Bank details of investor are not available. Exit Load Repurchase/ Redemption/Switch Out - On or before 180 days from the date of allotment 4.00%, after 180 days but on or before 365 days from the date of allotment 3.00%, after 365 days but on or before 545 days from the date of allotment 2.00%, after 545 days but on or before 730 days from the date of allotment 1.00%, after 730 days from the date of allotment Nil Taxation # The amount of Long Term Capital Gain in excess of Rs 1,00,000/- in a year will be 10% Tax on Short Term Capital Gains - 15% #The mentioned Tax Rates shall be increased by applicable surcharge, If any, Health and Education 4% where ever as applicable. Equity oriented schemes will also attract Securities Transaction Tax 0.001% at the time of redemption and switch to other schemes. TRANSACTION CHARGES: No Transaction Charges shall be deducted from the investment amount for applications received in the Regular Plan. NAV (as on September 28, 2018) Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on September 30, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM

7 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 13.06% ^^Sharpe Ratio 0.54 ^^Beta 0.86 Brokerages on Investments for ` 2,63, Distributor Commissions paid during ` 49, Portfolio Turnover Ratio (Last one year): 7.95% Quantum Long Term Equity Value Fund Performance as on September 28, 2018 The is co-managed by Mr. Atul Kumar and Mr. Nilesh Shetty. For other s Managed by Mr. Atul Kumar and Mr. Nilesh Shetty please see page no.39 Mr. Atul Kumar is the Fund Manager effective from November 15, 2006 Mr. Nilesh Shetty is the Associate Fund Manager effective from March 28, Performance of the Quantum Long Term Equity Value Fund - Direct Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) Sensex TRI (%) Nifty 50 TRI (%) (`) Sensex TRI (`) Nifty 50 TRI (`) September 29, 2017 to September 28, 2018 (1 year) September 30, 2015 to September 28, 2018 (3 years) September 30, 2013 to September 28, 2018 (5 years) September 30, 2011 to September 28, 2018 (7 years) September 30, 2008 to September 28, 2018 (10 years) Since Inception (13th March 2006) ,553 11,713 11, ,667 14,408 14, ,040 20,017 20, ,446 24,371 24, ,837 32,491 31, ,580 40,130 39,870 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Performance of the Quantum Long Term Equity Value Fund - Regular Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) Sensex TRI (%) Nifty 50 TRI (%) (`) Sensex TRI (`) Nifty 50 TRI (`) September 29, 2017 to September 28, 2018 (1 year) Since Inception (1st April 2017) ,536 11,713 11, ,027 12,485 12,182 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Regular plan launched on 1 April 2017 but not yet completed 3 years period since its launch 7

8 SIP Performance SIP Performance of Quantum Long Term Equity Value Fund as on September 28, Direct Plan - Growth Option Since Inception SIP 10 Years SIP 7 Years SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (` 000) Mkt Value as on September 30, 18 (` 000) (XIRR*) (%) - SENSEX TRI (XIRR*) (%) NIFTY 50 TRI (XIRR*) (%) 1, , , , , Past performance may or may not be sustained in the future. Load is not taken into consideration using applicable NAV on the SIP day (5th of every month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly subscriptions as on 5th day of every month (in case 5th is a non-business Day, then the next Business Day) and have been worked out using the Excel spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming ` 10,000 invested every month on 5th day of every month (in case 5th is a non-business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years, 10 years and since inception returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years, 10 years and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. Industry Allocation (% of Net Assets) as on December 31, 2017 Industry Allocation (% of Net Assets) as on September 30, 2018 Software Auto Finance Power Banks Pharmaceuticals Hotels, Resorts And Other Recreational Activities Gas Oil Ferrous Metals Auto Ancillaries Construction Project Cement 17.43% 13.79% 10.59% 8.23% 8.16% 6.61% 4.05% 3.81% 3.05% 2.87% 1.98% 1.23% 0.08% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 8

9 Name of Instrument Portfolio as on September 30, 2018 QUANTUM LONG TERM EQUITY VALUE FUND Industry / Rating Quantity Market Value In Lakhs % to Net Assets A) Listed /Awaiting listing on Stock Exchanges 1. Infosys Limited Software 10,24,210 7, Housing Development Finance Corporation Limited Finance 3,48,282 6, Bajaj Auto Limited Auto 2,02,108 5, Hero MotoCorp Limited Auto 1,60,666 4, Tata Consultancy Services Limited Software 1,95,873 4, Wipro Limited - Partly Paid Share Software 12,05,937 3, ICICI Bank Limited Banks 12,50,895 3, The Indian Hotels Company Limited Hotels, Resorts And Other Recreational Activities 26,60,205 3, State Bank of India Banks 13,22,740 3, GAIL (India) Limited Gas 9,02,910 3, Cipla Limited Pharmaceuticals 4,92,999 3, NTPC Limited Power 19,20,869 3, Oil & Natural Gas Corporation Limited Oil 15,48,367 2, Lupin Limited Pharmaceuticals 3,01,353 2, Power Grid Corporation of India Limited Power 13,83,168 2, Tata Steel Limited Ferrous Metals 4,37,273 2, LIC Housing Finance Limited Finance 5,56,691 2, Tata Motors Limited Auto 10,09,893 2, Exide Industries Limited Auto Ancillaries 6,70,819 1, PTC India Limited Power 23,81,506 1, Larsen & Toubro Limited Construction Project 86,632 1, Shriram Transport Finance Company Limited Finance 94,919 1, ACC Limited Cement 4, Tata Steel Limited - Partly Paid Share Ferrous Metals 24, B) Unlisted NIL NIL Total of all Equity 73, MONEY MARKET INSTRUMENTS A) Treasury Bills (T-Bill) Days Tbill (MD 13/06/2019) Sovereign 50, Total of T-Bill B) Collateralised Borrowing & Lending Obligation (CBLO)* 16, Total of Money Market Instruments 16, Net Receivable/(payable) Grand Total 89, * Cash & Cash Equivalents Product Labeling Name of the Quantum Long Term Equity Value Fund (An Open Ended Equity following a Value Investment Strategy) This product is suitable for investors who are seeking* Long term capital appreciation Invests primarily in equity and equity related securities of companies in 200 index. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Riskometer LOW HIGH Investors understand that their principal will be at Moderately High Risk ^^ Note: Risk Free Rate assumed to be 6.60% (FBIL Overnight MIBOR for 28 th ) for calculating Sharpe Ratio. Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns. Definitions Standard deviation measures historical volatility. A high standard deviation suggests high volatility, while lower standard deviation would refer to more stability. Beta is the tendency of a fund's returns to respond to market swings. A beta of 1 indicates that the fund price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market. Sharpe Ratio is used to characterise how well the return of an asset compensates the investor for the risk taken. The greater a portfolio's Sharpe ratio, the better its risk-adjusted performance has been. Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. Low Low Moderately Moderate Moderately High High 9

10 QUANTUM TAX SAVING FUND An Open Ended Equity Linked Saving with a Statutory Lock in of 3 years and Tax Benefit Investment Objective : The investment objective of the is to achieve long-term capital appreciation by investing primarily in shares of companies that will typically be included in the 200 Index and are in a position to benefit from the anticipated growth and development of the Indian economy and its markets. Features ` Fund Manager & Associate Fund Manager Mr. Atul Kumar Work experience: 15 years. He has been managing this fund since December 23, 2008 Mr. Sorbh Gupta Work experience: 12 years. He has been managing this fund since October 1, 2016 Category of Equity Linked Saving (ELSS) Inception Date (Date of Allotment) December 23, 2008 Declaration of Net Asset Value (NAV) Every Business Day Entry / Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (1.24% Management Fees % GST (18% GST on 1.24% Management Fees) Direct Plan % - (1.09% Management Fees % GST (18% GST on 1.09% Management Fees) Benchmark Index Sensex Total Return Index Minimum Application Amount (Under each Option) Purchase: ` 500/- and in multiples of ` 500/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 500/- thereafter Investment Options Growth & Dividend Redemption Proceeds Processed through RTGS/NEFT mode on T+3 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+3 basis from the date of transaction where the required Bank details of investor are not available. Exit Load Nil Taxation # The amount of Long Term Capital Gain in excess of ` 1,00,000/- in a year will be 10% Tax on Short Term Capital Gains - 15% Lock-in 3 years from the date of allotment of the respective Units #The mentioned Tax Rates shall be increased by applicable surcharge, If any, Health and Education 4% where ever as applicable. Equity oriented schemes will also attract Securities Transaction Tax 0.001% at the time of redemption and switch to other schemes. TRANSACTION CHARGES: No Transaction Charges shall be deducted from the investment amount for applications received in the Regular Plan. NAV (as on September 28, 2018) Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) Dividend Option Growth Option AUM `(In Crores) (as on September 30, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 71.21

11 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 13.22% ^^Beta 0.87 Brokerages on Investments for ` 16, Distributor Commissions paid during ` ^^Sharpe Ratio 0.55 Portfolio Turnover Ratio (Last one year): 7.10% Quantum Tax Saving Fund Performance as on September 28, 2018 The is Co-Managed by Mr. Atul Kumar and Mr. Sorbh Gupta. For other s Managed by Mr. Atul Kumar please see page no. 39 Mr. Atul Kumar is the Fund Manager effective from December 23, 2008 Mr. Sorbh Gupta is the Associate Fund Manager effective from October 1,2016 Performance of the Quantum Tax Saving Fund - Direct Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) Sensex TRI (%) Nifty 50 TRI (%) (`) Sensex TRI (`) Nifty 50 TRI (`) September 29, 2017 to September 28, 2018 (1 year) September 30, 2015 to September 28, 2018 (3 years) September 30, 2013 to September 28, 2018 (5 years) September 30, 2011 to September 28, 2018 (7 years) Since Inception (23rd Dec 2008) ,591 11,713 11, ,778 14,408 14, ,051 20,017 20, ,563 24,371 24, ,230 43,049 41,436 Past performance may or may not be sustained in the future. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Performance of the Quantum Tax Saving Fund - Regular Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) Sensex TRI (%) Nifty 50 TRI (%) (`) Sensex TRI (`) Nifty 50 TRI (`) September 29, 2017 to September 28, 2018 (1 year) Since Inception (1st April 2017) ,574 11,713 11, ,060 12,485 12,182 Past performance may or may not be sustained in the future. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Regular plan launched on 1 April 2017 but not yet completed 3 years period since its launch 11

12 SIP Performance Quantum Tax Saving Fund as on September 28, Direct Plan - Growth Option Since Inception SIP 7 Years SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (`. 000) Mkt Value as on September 30, 18 (` 000) (XIRR*) (%) - SENSEX TRI (XIRR*) (%) NIFTY 50 TRI (XIRR*) (%) 1, , , Past performance may or may not be sustained in the future. performance has been calculated using applicable NAV on the SIP day (5th of every month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly subscriptions as on 5th day of every month (in case 5th is a non-business Day, then the next Business Day) and have been worked out using the Excel spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming ` 10,000 invested every month on 5th day of every month (in case 5th is a non-business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years, and since inception returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. Industry Allocation (% of Net Assets) as on December 31, 2017 Industry Allocation (% of Net Assets) as on September 30, 2018 Software 18.30% Auto 13.59% Finance 10.50% Power Banks Pharmaceuticals Hotels, Resorts And Other Recreational Activities Gas Oil Auto Ancillaries Ferrous Metals Construction Project 4.07% 3.76% 3.34% 2.82% 2.76% 2.03% 7.17% 8.41% 8.34% Cement 0.10% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 12

13 Name of Instrument Portfolio as on September 30, 2018 QUANTUM TAX SAVING FUND Industry Quantity Market % to Net Value In Assets Lakhs EQUITY & EQUITY RELATED a) Listed /Awaiting listing on Stock Exchanges 1. Infosys Limited Software 81, Housing Development Finance Corporation Limited Finance 27, Bajaj Auto Limited Auto 15, Tata Consultancy Services Limited Software 18, Hero MotoCorp Limited Auto 12, ICICI Bank Limited Banks 1,02, Wipro Limited - Partly Paid Share Software 93, The Indian Hotels Company Limited Hotels, Resorts And Other Recreational Activities 2,11, Cipla Limited Pharmaceuticals 43, State Bank of India Banks 1,05, NTPC Limited Power 1,64, GAIL (India) Limited Gas 70, Oil & Natural Gas Corporation Limited Oil 1,34, Lupin Limited Pharmaceuticals 25, Exide Industries Limited Auto Ancillaries 75, Power Grid Corporation of India Limited Power 1,04, Tata Steel Limited Ferrous Metals 33, LIC Housing Finance Limited Finance 43, Tata Motors Limited Auto 79, Larsen & Toubro Limited Construction Project 11, PTC India Limited Power 1,91, Shriram Transport Finance Company Limited Finance 7, ACC Limited Cement Tata Steel Limited - Partly Paid Share Ferrous Metals 1, B) Unlisted NIL NIL Total of all Equity 6, MONEY MARKET INSTRUEMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* 1, Net Receivable/(payable) Grand Total 7, * Cash & Cash Equivalents Product Labeling Name of the This product is suitable for investors who are seeking* Riskometer Quantum Tax Saving Fund (An Open Ended Equity Linked Saving with a Statutory Lock in of 3 years and Tax Benefit) Long term capital appreciation Invests primarily in equity and equity related securities of companies in 200 index and to save tax u/s 80 C of the Income Tax Act. Investments in this product are subject to lock in period of 3 years. LOW HIGH Investors understand that their principal will be at Moderately High Risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them Low Low Moderately Moderate Moderately High High ^^ Note: Risk Free Rate assumed to be 6.60% (FBIL Overnight MIBOR for 28 th ) for calculating Sharpe Ratio. Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns. Definitions Standard deviation measures historical volatility. A high standard deviation suggests high volatility, while lower standard deviation would refer to more stability. Beta is the tendency of a fund's returns to respond to market swings. A beta of 1 indicates that the fund price will move with the market. A beta of less than 1 means that these curity will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market. Sharpe Ratio is used to characterise how well the return of an asset compensates the investor for the risk taken. The greater a portfolio's Sharpe ratio, the better its risk-adjusted performance has been. Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. 13

14 QUANTUM EQUITY FUND OF FUNDS An Open Ended Fund of Funds scheme Investing in Open Ended Diversified Equity s of Mutual Fund Investment Objective : The investment objective of the scheme is to generate long-term capital appreciation by investing in a portfolio of open-ended diversified equity schemes of mutual funds registered with SEBI. There can be no assurance of positive returns from following the stated investment strategy. Features ` Fund Manager Mr. Chirag Mehta Work experience: 14 years. He has been managing this fund since November 1, 2013 Category of Fund of Funds Domestic Inception Date (Date of Allotment) July 20, 2009 Declaration of Net Asset Value (NAV) Every Business Day Entry / Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (0.53% Management Fees % GST (18% GST on 0.53% Management Fees) Direct Plan % - (0.43% Management Fees % GST (18% GST on 0.43% Management Fees) Benchmark Index 200 TRI Minimum Application Amount (Under each Option) Purchase: ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 1/- thereafter/ 50 units Investment Options Growth & Dividend (Dividend Option will in turn have two Facilities, Dividend Payout Facility and Dividend Re-investment Facility) Redemption Proceeds Processed through RTGS/NEFT mode on T+3 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+3 basis from the date of transaction where the required Bank details of investor are not available. Exit Load Repurchase/ Redemption/ Switch Out - On or before 365 days from the date of allotment 1.5 %. Research Services Quantum Information Services Private Limited (QIS) which owns the website is the designated agency to provide a recommended list of diversified equity schemes to Quantum Equity Fund of Funds. The investments in diversified equity schemes is made by Quantum Equity Fund of Funds based on / from that recommended list of diversified equity schemes provide by QIS. NAV (as on September 28, 2018) Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on September 30, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 25.73

15 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 14.24% ^^Beta 0.96 Brokerages on Investments for Distributor Commissions paid during ` NIL ^^Sharpe Ratio 0.34 Quantum Equity Fund of Funds Performance as on September 28, 2018 For other s Managed by Mr. Chirag Mehta please see page no.39, 40 Mr. Chirag Mehta is the Fund Manager effective from November 01,2013. Performance of the Quantum Equity Fund of Funds - Direct Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) 200 TRI (%) Sensex TRI (%) (`) 200 TRI (`) Sensex TRI (`) September 29, 2017 to September 28, 2018 (1 year) September 30, 2015 to September 28, 2018 (3 years) September 30, 2013 to September 28, 2018 (5 years) September 30, 2011 to September 28, 2018 (7 years) Since Inception (20th July 2009) ,276 10,954 11, ,642 14,366 14, ,281 21,695 20, ,411 25,210 24, ,421 28,507 27,243 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme retuarns calucation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Performance of the Quantum Equity Fund of Funds - Regular Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) 200 TRI (%) Sensex TRI (%) (`) 200 TRI (`) Sensex TRI (`) September 29, 2017 to September 28, 2018 (1 year) Since Inception (1st April 2017) ,264 10,954 11, ,075 11,844 12,485 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme retuarns calucation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Regular plan launched on 1 April 2017 but not yet completed 3 years period since its launch 15

16 SIP Performance SIP Performance of Quantum Equity Fund of Funds as on September 28, Direct Plan - Growth Option Since Inception SIP 7 Years SIP 5 Years SIP 3 Year SIP 1 Year SIP Total Amount Invested (` 000) Mkt Value as on September 30, 18 (` 000) (XIRR*) (%) 200 TRI (XIRR*) (%) SENSEX TRI (XIRR*) (%) 1, , , Past performance may or may not be sustained in the future. Load is not taken into consideration using applicable NAV on the SIP day (5th of every month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly subscriptions as on 5th day of every month (in case 5th is a non-business Day, then the next Business Day) and have been worked out using the Excel spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming ` 10,000 invested every month on 5th day of every month (in case 5th is a non-business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years and since inception returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. Name of Instrument Portfolio as on September 30, 2018 QUANTUM EQUITY FUND OF FUNDS Quantity Market Value In Lakhs % to Net Assets MUTUAL FUND UNITS 1. Mirae Asset India Equity Fund-Direct Plan-Growth Option 7,81, ICICI Prudential Bluechip Fund-Direct Plan-Growth Option 8,70, Aditya Birla Sun Life Frontline Equity Fund-Direct Plan-Growth Option 1,61, Franklin India Equity Fund-Direct Plan-Growth Option 59, Invesco India Growth Opportunities Fund-Direct Plan-Growth Option 9,99, Franklin India PRIMA FUND-Direct Plan-Growth Option 35, L&T Mid Cap Fund-Direct Plan-Growth Option 2,43, Total of Mutual Fund Units 2, MONEY MARKET INSTRUMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total 2, * Cash & Cash Equivalents 16

17 Product Labeling Name of the This product is suitable for investors who are seeking* Riskometer Quantum Equity Fund of Funds (An Open Ended Fund of Funds scheme Investing in Open Ended Diversified Equity s of Mutual Funds) Long term capital appreciation Investments in portfolio of open-ended diversified equity schemes of mutual funds registered with SEBI whose underlying investments are in equity and equity related securities of diversified companies. LOW HIGH Investors understand that their principal will be at Moderately High Risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Low Low Moderately Moderate Moderately High High Tax on Capital Gains # Resident Individuals & HUF FII s / Overseas Financial Organisations Partnership Firm Non Resident Indians Indian Companies Foreign Companies Long Term 20% with Indexation 10% without Indexation 20% with Indexation 10% without Indexation (on transfer of long term capital assets being unlisted securities) 20% with Indexation 10% without Indexation (on transfer of long term capital assets being unlisted securities) Short Term Maximum 30% 30% 30% Maximum 30% 30% 40% #The mentioned Tax Rates shall be increased by applicable surcharge, If any, Health and Education 4% where ever as applicable. Equity oriented schemes will also attract Securities Transaction Tax 0.001% at the time of redemption and switch to other schemes. The s which are selected for investments in QEFOF based on QIS / PFN Research. TRANSACTION CHARGES: No Transaction Charges shall be deducted from the investment amount for applications received in the Regular Plan. ^^ Note: Risk Free Rate assumed to be 6.60% (FBIL Overnight MIBOR for 28 th ) for calculating Sharpe Ratio. Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns. Definitions Standard deviation measures historical volatility. A high standard deviation suggests high volatility, while lower standard deviation would refer to more stability. Beta is the tendency of a fund's returns to respond to market swings. A beta of 1 indicates that the fund price will move with the market. A beta of less than 1 means that thesecurity will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market. Sharpe Ratio is used to characterise how well the return of an asset compensates the investor for the risk taken. The greater a portfolio's Sharpe ratio, the better its risk-adjusted performance has been. 17

18 QUANTUM DYNAMIC BOND FUND An Open Ended Dynamic Debt Investing Across Duration Investment Objective : To generate income and capital appreciation through active management of portfolio consisting of short term, long term debt and money market instruments. Features Fund Manager Mr. Pankaj Pathak Work experience: 08 years. He has been managing this fund since March 01, 2017 Benchmark Index CRISIL Composite Bond Fund Index Category of Dynamic Bond Fund Inception Date (Date of Allotment) May 19, 2015 Declaration of Net Asset Value (NAV) Every Business Day Minimum Application Amount (Under each Option) Purchase: ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 1/- thereafter/ 50 units Investment Options Growth Option, Monthly Dividend Payout Option and Monthly Dividend Reinvestment Option ` Entry/ Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (0.67% Management Fees % GST (18% GST on 0.67% Management Fees) Direct Plan % - (0.57% Management Fees % GST (18% GST on 0.57% Management Fees) Redemption Proceeds Processed through RTGS/NEFT mode on T+1 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+1 basis from the date of transaction where the required Bank details of investor are not available. Exit Load Nil NAV (as on September 28, 2018) Monthly Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on September 30, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 59.88

19 Weighted Average Maturity as on September 30, 2018 (Years) Brokerages & Commissions Details At the end of the month 3.71 Brokerages on Investments for `10, Modified Duration 2.84 Distributor commissions paid during ` Portfolio Yield 7.50% Dividend History - Monthly Dividend option Direct Plan Regular Plan Regular Plan Record Date Net Dividend per unit (`) (Post Dividend Distribution Tax) Net Dividend per unit (`) (Post Dividend Distribution Tax) Individual Non Individual Individual Non Individual 25-Jul Aug Sep-18 Nil Nil Nil Nil Nil Nil Nil Nil Asset Allocation & Rating Profile (% of Net Assets) as on September 30, 2018 CBLO & Net Receivable / (Payable), 17.39% Govt. Securities & Treasury Bills Public Financial Institution Public Financial Institution, 24.86% Govt. Securities & Treasury Bills, 57.75% CBLO & Net Receivable / (Payable) CBLO & Net Receivable / (Payable), 17.39% Sovereign AAA CBLO & Net Receivable / (Payable) AAA, 24.86% Sovereign, 57.75% 19

20 Quantum Dynamic Bond Fund Performance as on September 28, 2018 For other s Managed by Mr. Pankaj Pathak please see page no.41 Mr. Pankaj Pathak is the Fund Manager effective from March 01,2017. Performance of the scheme Quantum Dynamic Bond Fund - Direct Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) CRISIL Composite Bond Fund Index (%) CRISIL 10 Year Gilt Index (%) (`) CRISIL Composite Bond Fund Index (`) CRISIL 10 Year Gilt Index (`) September 29, 2017 to September 28, 2018 (1 year) September 30, 2015 to September 28, 2018 (3 years) Since Inception (19th May 2015) ,075 10,054 9, ,355 12,098 11, ,053 12,574 11,954 Past performance may or may not be sustained in the future. Different Plans shall have a different expense structure. The has been in existence for more than 3 year but has not yet completed 5 years period from inception. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Performance of the scheme Quantum Dynamic Bond Fund - Regular Plan - Growth Option Current Value ` 10,000 Invested at the beginning of a given period (%) CRISIL Composite Bond Fund Index (%) CRISIL 10 Year Gilt Index (%) (`) CRISIL Composite Bond Fund Index (`) CRISIL 10 Year Gilt Index (`) September 29, 2017 to September 28, 2018 (1 year) Since Inception (1st April 2017) ,065 10,054 9, ,629 10,495 9,922 Past performance may or may not be sustained in the future. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Regular plan launched on 1 April 2017 but not yet completed 3 years period since its launch 20

21 Name of Instrument Portfolio as on September 30, 2018 QUANTUM DYNAMIC BOND FUND Rating Market Value In Lakhs % to Net Assets DEBT INSTRUEMENTS A) Listed /Awaiting listing on Stock Exchanges i) Bonds % EXIM Bank NCD (MD 12/07/2022) CRISIL AAA % IRFC NCD Series 128 (MD 07/06/2019) CRISIL AAA % NABARD NCD SR 18 G (MD 30/09/2020) CRISIL AAA Total of Bonds 1, ii) Government Securities % GOI (MD 19/12/2022) Sovereign 2, % GOI (MD 08/01/2028) Sovereign Total of Government Securities 3, B) Privately Placed/Unlisted NIL NIL C) Securitized Debt Instruments NIL NIL Total of Debt Instruments 4, MONEY MARKET INSTRUMENTS A) Treasury Bills (T-Bill) Days Tbill (MD 13/12/2018) Sovereign Total of T-Bills B) Commercial Papers (CP) Total of CPs C) Collateralised Borrowing & Lending Obligation (CBLO)* Total of Money Market Instruments 1, Net Receivable / (Payables) Grand Total 5, * Cash & Cash Equivalents Product Labeling Name of the Quantum Dynamic Bond Fund (An Open Ended Dynamic Debt Investing Across Duration) This product is suitable for investors who are seeking* Regular income over short to medium term and capital appreciation Investment in Debt / Money Market Instruments / Government Securities. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Low Low Moderately Riskometer Moderate Moderately LOW HIGH Investors understand that their principal will be at Moderate Risk High High Tax on Capital Gains # Resident Individuals & HUF FII s / Overseas Financial Organisations Partnership Firm Non Resident Indians Indian Companies Foreign Companies Long Term 20% with Indexation 10% without Indexation 20% with Indexation 10% without Indexation (on transfer of long term capital assets being unlisted securities) 20% with Indexation 10% without Indexation (on transfer of long term capital assets being unlisted securities) Short Term Maximum 30% 30% 30% Maximum 30% 30% 40% #The mentioned Tax Rates shall be increased by applicable surcharge, If any, Health and Education 4% where ever as applicable. Equity oriented schemes will also attract Securities Transaction Tax 0.001% at the time of redemption and switch to other schemes. TRANSACTION CHARGES: No Transaction Charges shall be deducted from the investment amount for applications received in the Regular Plan. 21

22 QUANTUM LIQUID FUND An Open Ended Liquid Investment Objective : The primary investment objective of the is to provide optimal returns with low to moderate levels of risk and high liquidity through judicious investments in money market and debt instruments. Features ` Fund Manager Mr. Pankaj Pathak Work experience: 08 years. He has been managing this fund since March 01, 2017 Category of Liquid Fund Inception Date (Date of Allotment) April 07, 2006 Declaration of Net Asset Value (NAV) Every Business Day Entry/ Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (0.20% Management Fees % GST (18% GST on 0.20% Management Fees) Direct Plan % - (0.15% Management Fees % GST (18% GST on 0.15% Management Fees) Benchmark Index Crisil Liquid Fund Index Minimum Application Amount (Under each Option) Growth Option: ` 5,000/-and in multiples of ` 1/- thereafter. Monthly Dividend Option: ` 10,000/- and in multiples of ` 1/- thereafter. Daily Dividend Reinvestment Option: ` 1,00,000/- and in multiples of ` 1/- thereafter. Additional Investment: ` 500/- and in multiples of ` 1/- thereafter /50 units (For all options) Investment Options Growth, Daily Dividend Reinvestment & Monthly Dividend Option Two facilities (i) Dividend Re - Investment Facility, (ii) Dividend Payout Facility Redemption Proceeds Processed through RTGS/NEFT mode on T+1 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+1 basis from the date of transaction where the required Bank details of investor are not available. Exit Load Nil NAV (as on September 30, 2018) Daily Dividend Option Monthly Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on September 30, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM

23 Weighted Average Maturity as on September 30, 2018 (Days) Brokerages & Commissions Details At the end of the month 46 Brokerages on Investments for `8, Average during the month 46 Modified Duration 43 Distributor commissions paid during ` Portfolio Yield 6.60% Dividend History - Monthly Dividend option Record Date Direct Plan Net Dividend per unit (`) (Post Dividend Distribution Tax) Regular Plan Net Dividend per unit (`) (Post Dividend Distribution Tax) Individual Non Individual Individual Non Individual 25-Jul Aug Sep Asset Allocation & Rating Profile (% of Net Assets) as on September 30, 2018 Energy, 5.92% Petroleum, 5.94% CBLO & Net Receivable / (Payable), 11.03% Public Financial Institution, 11.86% CBLO & Net Receivable / (Payable) Govt. Securities Public Financial Institution Petroleum Energy Govt. Securities, 65.25% CBLO & Net Receivable / (Payable), 11.03% A1+, 23.72% CBLO & Net Receivable / (Payable) A1+ Sovereign Sovereign, 65.25% 23

24 Quantum Liquid Fund Performance as on September 28, 2018 For other s Managed by Mr. Pankaj Pathak please see page no.41 Mr. Pankaj Pathak is the Fund Manager effective from March 01,2017. Performance of the scheme Quantum Liquid Fund - Direct Plan - Growth Option Current Value `10,000 Invested at the beginning of a given period (%) Crisil Liquid Fund Index (%) Crisil 1 year T-bill Index (%) (`) Crisil Liquid Fund Index (`) Crisil 1 year T-bill Index (`) September 23, 2018 to September 30, 2018 (7 Days)* September 15, 2018 to September 30, 2018 (15 Days)* August 31, 2018 to September 30, 2018 (1 Month)* September 30, 2017 to September 30, 2018 (1 year)** September 30, 2015 to September 30, 2018 (3 years)** September 30, 2013 to September 30, 2018 (5 years)** September 30, 2011 to September 30, 2018 (7 years)** September 30, 2008 to September 30, 2018 (10 years)** Since Inception (07th April 2006)** ,014 10,013 10, ,029 10,030 10, ,053 10,059 10, ,632 10,721 10, ,079 12,320 12, ,253 14,643 14, ,918 17,275 16, ,470 20,693 18, ,651 24,523 21,302 Past performance may or may not be sustained in the future. Different Plans shall have a different expense structure. * Simple Annualized ** for 1 year and above period are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Performance of the scheme Quantum Liquid Fund - Regular Plan - Growth Option Current Value `10,000 Invested at the beginning of a given period (%) Crisil Liquid Fund Index (%) Crisil 1 year T-bill Index (%) (`) Crisil Liquid Fund Index (`) Crisil 1 year T-bill Index (`) September 23, 2018 to September 30, 2018 (7 Days)* September 15, 2018 to September 30, 2018 (15 Days)* August 31, 2018 to September 30, 2018 (1 Month)* September 30, 2017 to September 30, 2018 (1 year)** Since Inception (1st April 2017)** ,014 10,013 10, ,029 10,030 10, ,055 10,059 10, ,626 10,721 10, ,938 11,074 10,850 Past performance may or may not be sustained in the future. Different Plans shall have a different expense structure. * Simple Annualized ** for 1 year and above period are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Regular plan launched on 1 April 2017 but not yet completed 3 years period since its launch 24

25 High Name of Instrument Rating Residual Maturity (in days) Market Value In Lakhs % to Net Assets DEBT INSTRUEMENTS A) Listed /Awaiting Listing on Stock Exchanges NIL NIL NIL B) Privately Placed/Unlisted NIL NIL NIL C) Securitized Debt Instruments NIL NIL NIL Total of Debt Instruments NIL NIL MONEY MARKET INSTRUMENTS A) Commercial Papers (CP) 1. Indian Oil Corporation Ltd CP (MD 15/11/2018) CRISIL A Power Grid Corporation Ltd CP (MD 29/11/2018) CRISIL A Rural Electrification Corp Ltd CP (MD 03/12/2018) CRISIL A National Bank For Agri & Rural CP (MD 31/10/2018) CRISIL A National Bank For Agri & Rural CP (MD 05/11/2018) CRISIL A Total of CPs 3, B) Treasury Bills (T-Bill) Days Tbill (MD 01/11/2018) Sovereign 32 1, Days Tbill (MD 15/11/2018) Sovereign 46 1, Days Tbill (MD 14/12/2018) Sovereign 75 1, Days Tbill (MD 11/10/2018) Sovereign Days Tbill (MD 22/11/2018) Sovereign Days Tbill (MD 29/11/2018) Sovereign Days Tbill (MD 21/12/2018) Sovereign Days Tbill (MD 27/12/2018) Sovereign Days Tbill (MD 25/10/2018) Sovereign Total of T-Bills 10, C) Collateralised Borrowing & Lending Obligation (CBLO)* 2, Total of Money Market Instruments 17, Net Receivable / (Payables) (796.19) Grand Total 16, * Cash & Cash Equivalents Product Labeling Portfolio as on September 30, 2018 QUANTUM LIQUID FUND Name of the Quantum Liquid Fund (An Open Ended Liquid ) This product is suitable for investors who are seeking* Income over the short term Investments in debt / money market instruments. Low Moderately Riskometer Moderate Moderately High Low *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. LOW HIGH Investors understand that their principal will be at Low risk Tax on Capital Gains # Resident Individuals & HUF FII s / Overseas Financial Organisations Partnership Firm Non Resident Indians Indian Companies Foreign Companies Long Term 20% with Indexation 10% without Indexation 20% with Indexation 10% without Indexation (on transfer of long term capital assets being unlisted securities) 20% with Indexation 10% without Indexation (on transfer of long term capital assets being unlisted securities) Short Term Maximum 30% 30% 30% Maximum 30% 30% 40% #The mentioned Tax Rates shall be increased by applicable surcharge, If any, Health and Education 4% where ever as applicable. Equity oriented schemes will also attract Securities Transaction Tax 0.001% at the time of redemption and switch to other schemes. TRANSACTION CHARGES: No Transaction Charges shall be deducted from the investment amount for applications received in the Regular Plan. 25

26 QUANTUM GOLD SAVINGS FUND An Open Ended Fund of Fund Investing in Quantum Gold Fund Investment Objective : The investment objective of the is to provide capital appreciation by predominantly investing in units of Quantum Gold Fund Replicating / Tracking Gold an Exchange Traded Fund The performance of the may differ from that of Quantum Gold Fund and the domestic prices of gold due to expenses and certain other factors. There can be no assurance or guarantee that the investment objective of the will be achieved. Features Fund Manager Mr. Chirag Mehta Work experience: 14 years. He has been managing this fund since May 19, 2011 Category of Fund of Fund Domestic Inception Date (Date of Allotment) May 19, 2011 Declaration of Net Asset Value (NAV) Benchmark Index Domestic Price of Gold Minimum Application Amount (Under each Option) Purchase : ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 1/- thereafter / 50 units Investment Options Growth Every Business Day ` Entry / Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (0.15% Other Expenses % GST (18% GST on 0.15% Other Expenses ) Direct Plan % - (0.05% Other Expenses % GST (18% GST on 0.05% Other Expenses ) Redemption Proceeds Processed through RTGS/NEFT mode on T+2 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+2 basis from the date of transaction where the required Bank details of investor are not available. Exit Load The exit load will be NIL for the prospective investments made on or after December 11, NAV (as on September 28, 2018) Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) Growth Option AUM `(In Crores) (as on September 30, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 14.11

27 Brokerages & Commissions Details Brokerages on Investments for ` 1, Distributor Commissions paid during ` *Portfolio Turnover Ratio (Last one year): 17.95% *Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. Asset Allocation & Rating Profile (% of Net Assets) as on September 30, 2018 CBLO & Net Receivable / (Payable), 0.26% CBLO & Net Receivable / (Payable) Units of Quantum Gold Fund Units of Quantum Gold Fund, 99.74% Quantum Gold Savings Fund Performance as on September 28, 2018 For other s Managed by Mr. Chirag Mehta please see page no.39, 40 Mr. Chirag Mehta is the Fund Manager effective from May 19,2011. Performance of the Quantum Gold Savings Fund - Direct Plan Current Value ` 10,000 Invested at the beginning of a given period (%) Domestic Price of Gold (%) (`) Domestic Price of Gold (`) September 29, 2017 to September 28, 2018 (1 year) September 30, 2015 to September 28, 2018 (3 years) September 30, 2013 to September 28, 2018 (5 years) September 30, 2011 to September 28, 2018 (7 years) Since Inception (19th May 2011) ,136 10, ,046 11, ,498 10, ,606 11, ,557 13,817 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme retuarns calucation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). 27

28 Performance of the Quantum Gold Savings Fund - Regular Plan Current Value ` 10,000 Invested at the beginning of a given period (%) Domestic Price of Gold (%) (`) Domestic Price of Gold (`) September 29, 2017 to September 28, 2018 (1 year) Since Inception (1st April 2017) ,125 10, ,298 10,507 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme retuarns calucation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Regular plan launched on 1 April 2017 but not yet completed 3 years period since its launch SIP Performance SIP Performance of Quantum Gold Savings Funds as on September 28, Direct Plan Since Inception SIP 7 Years SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (` 000) Mkt Value as on September 30, 18 (` 000) (XIRR*) (%) Domestic Price of Gold (XIRR*) (%) Past performance may or may not be sustained in the future. Load is not taken into consideration using applicable NAV on the SIP day (5th of every month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly subscriptions as on 5th day of every month (in case 5th is a non-business Day, then the next Business Day) and have been worked out using the Excel spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming `10,000 invested every month on 5th day of every month (in case 5th is a non-business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years and since inception returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. Name of Instrument Portfolio as on September 30, 2018 QUANTUM GOLD SAVINGS FUND Quantity Market Value In Lakhs % to Net Assets A) EXCHANGE TRADED FUND UNITS 1. Quantum Gold Fund 1,04,536 1, Total of Exchange Traded Funds 1, B) MONEY MARKET INSTRUMENTS 1. Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total 1, * Cash & Cash Equivalents 28

29 Product Labeling Name of the Quantum Gold Savings Fund (An Open Ended Fund of Fund Investing in Quantum Gold Fund) This product is suitable for investors who are seeking* Long term returns Investments in units of Quantum Gold Fund - Exchange Traded Fund whose underlying investments are in physical gold. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Low Low Moderately Riskometer Moderate Moderately LOW HIGH Investors understand that their principal will be at Moderately High Risk High High Tax on Capital Gains # Resident Individuals & HUF FII s / Overseas Financial Organisations Partnership Firm Non Resident Indians Indian Companies Foreign Companies Long Term 20% with Indexation 10% without Indexation 20% with Indexation 20% with Indexation (on transfer of long term capital assets being listed securities) 20% with Indexation 20% with Indexation (on transfer of long term capital assets being listed securities) Short Term Maximum 30% 30% 30% Maximum 30% 30% 40% #The mentioned Tax Rates shall be increased by applicable surcharge, If any, Health and Education 4% where ever as applicable. Equity oriented schemes will also attract Securities Transaction Tax 0.001% at the time of redemption and switch to other schemes. TRANSACTION CHARGES: No Transaction Charges shall be deducted from the investment amount for applications received in the Regular Plan. 29

30 QUANTUM MULTI ASSET FUND An Open Ended Fund of Funds Investing in schemes of Quantum Mutual Fund Investment Objective : The investment objective of the is to generate modest capital appreciation while trying to reduce risk (by diversifying risks across asset classes) from a combined portfolio of equity, debt / money markets and Gold schemes of Quantum Mutual Fund. The may invest in the units of debt / money market schemes of other mutual funds to gain exposure to debt as an asset class to manage any investment and regulatory constraints that arise/ that prevent the from increasing investments in the schemes of Quantum Mutual Fund. There can be no assurance that the investment objective of the will be realized. Features Fund Manager Mr. Chirag Mehta & Mr. Nilesh Shetty Work experience: 14 years Respectively. Both have been managing this fund since July 11, 2012 Benchmark Index Crisil Composite Bond Fund Index (40%)+ SENSEX Total Return Index (40%)+ Domestic price of gold (20%) Category of Fund of Funds Domestic Inception Date (Date of Allotment) July 11, 2012 Declaration of Net Asset Value (NAV) Minimum Application Amount (Under each Option) Purchase: `500/- and in multiples of `1/- thereafter. Additional Purchase: `500/- and in multiples of `1/- thereafter/ 50 units Investment Options Growth Every Business Day Redemption Proceeds Entry/ Sales Load Not Applicable 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. Total Expense Ratio (As on month end) Regular Plan % - (0.32% Other Fees % GST (18% GST on 0.32% Other Expenses) Direct Plan % - (0.22% Other Fees % GST (18% GST on 0.22% Other Expenses ) Processed through RTGS/NEFT mode on T+3 basis from the date of transaction where the investor s Bank details are available. Processed through cheque on T+3 basis from the date of transaction where the required Bank details of investor are not available. Exit Load Repurchase/ Redemption/ Switch Out - a) On or before 90 days from the date of allotment 1.00%. b) After 90 days from the date of allotment Nil NAV (as on September 28, 2018) Growth Option Direct Regular AUM `(In Crores) Plan Regular Plan (as on September 30, 2018) (`/Unit) Plan (`/Unit) ( ` / Unit) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month