INDEX QUANTUM VIEW 03 QUANTUM LONG TERM EQUITY VALUE FUND - QLTEVF 08 QUANTUM TAX SAVING FUND - QTSF 12 QUANTUM EQUITY FUND OF FUNDS - QEFOF 16

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2 INDEX CONTENTS PAGE NO. QUANTUM VIEW 03 QUANTUM LONG TERM EQUITY VALUE FUND - QLTEVF 08 QUANTUM TAX SAVING FUND - QTSF 12 QUANTUM EQUITY FUND OF FUNDS - QEFOF 16 QUANTUM DYNAMIC BOND FUND - QDBF 20 QUANTUM LIQUID FUND - QLF 24 QUANTUM GOLD SAVINGS FUND - QGSF 28 QUANTUM MULTI ASSET FUND - QMAF 32 QUANTUM GOLD FUND - QGF 35 QUANTUM NIFTY ETF - QNIFTY 38 SCHEME PERFORMANCE - FUND MANAGER WISE 41 HOW TO READ THE FACTSHEET 44 STATUTORY DETAILS & RISK FACTORS 45 CONTACT US 45

3 QUANTUM VIEW FOR Equity Outlook Atul Kumar- Head - Equity Funds 2018 turned out to be an eventful year for economy and stock markets. In the beginning, equity markets were pretty complacent. This changed as the year progressed with volatility rising especially in the latter half of the year. Long term capital gain tax was introduced in Union Budget for equities, move not welcome by markets. Indian economy faced headwinds during the year. Crude oil rose to c85$/barrel. Inflation touched 5% levels. RBI raised interest rates twice during the year, after a 4 year pause. Indian rupee saw a sharp depreciation, similar to other economies as US dollar strengthened. The macroeconomic benefits that India reaped over the past 3 years seemed to reverse. However, crude prices have cooled as we come to end of the year. Economic sanction on Iran was among the drivers of crude prices. As India is exempted from the sanctions for 6 months, there has been a respite on macro front. Keeping with high gyrations, crude oil price has crashed to c50$/bbl. Inflation has also come down to very low levels. Low food prices have contributed to subdued inflation, which can be temporary. Many market participants now are looking at lower interest rates. Economy does face challenges on fiscal deficit, as tax collections remain lower in GST era. With elections around the corner, agriculture and rural spending remains the focus of Government. Desperation to get funds for spending, among few other issues also led to spat with RBI. This culminated into resignation by the Governor of Indian Central bank. Central bank of US played a crucial role in setting expectations for the global financial markets. Interest rates were hiked 4 times in the course of year by US Fed. Unemployment there has fallen to very low levels and economy continues to do well. This had impact of dollar liquidity waning and many emerging market stock markets took a beating. Fed later clarified that interest rates there are just below normal. Markets were relieved and now expect lesser rate hikes in Tightening of interest rates in the US and other developed markets are likely to lead to decline in equities markets in emerging markets including India. As western investors get higher interest rates in home economy, they would be less willing to take risk outside. Eurozone could also raise interest rates going ahead. US is also shrinking its balance sheet, which had expanded post financial crisis in This leaves Japan as one which may continue following loose monetary policy. Trade deficit and jobs moving overseas, which was a major election issue for President Trump came to roost in US and China fought each other with tariffs and counter-tariffs. This particularly hurt the Chinese economy as it runs a trade surplus. Its stock markets fell by c25% in As expected, India has been relatively insulated from US tariff/visa issues. There were fears in 2016 since Trump election that Indian IT firms will be impacted significantly. Measures taken since then weren t as harsh as expected and most IT companies adapted their business model. Corporate earnings have been recovering in India. However, markets were expecting earning of Sensex companies to grow at c20% in FY19. Progress so far suggests actual delivery to be much lower, touching early teens. Private companies aren t investing in capacity expansion yet. While capacity utilization in the economy has touched 75%, many companies are still awaiting election results and new party at government before committing capital expenditure. We expect corporate profitability to pick up significantly in future and achieve growth closer to market expectations. Many companies will reach optimum capacity and have pricing power as new production facilities will take months to fruition since committing to them. So far corporate profit has eluded investors for past 4 years will also be remembered for IL&FS saga, which created much upheaval in financial and money market. Default by IL&FS on debt, considered by many as quasi government company, took all by surprise. Many banks and mutual funds who lent to the former were trapped. This followed news of another MF selling a NBFC co. paper at discount triggering fears of default by a number of private companies. Many NBFCs were running mismatch on asset liability duration. Markets faced liquidity crunch and were gripped by fear that many may not be able to roll over their short term debt. Stocks of many NBFC and sectors depending on consumer finance (autos, 2 wheeler, etc) took a beating in September and October. Situation on the liquidity front has improved much since then. Many took recourse to selling their advances as means to free their balance sheet. Other sources of funds such as bank lending, higher tenor debentures also opened up. Valuation of Indian stocks saw a decent correction in 2018 led by events of September and October. Many sectors which were valued quite richly by investors saw a return to normal levels. Risk adjusted returns for equities look much favourable now than they were in year before. Companies raising money through IPO was much lower than in 2017, which was a record year. 311 Bn INR was raised in 2018 by investment bankers for IPO as compared to 671 Bn INR in Sensex gained 7.4% in 2018 (total return index), much lower than 29.6% in year before. Mid cap and Small cap indices faced significant pressure during the year. 12.5% and 23.1% was the decline in Mid cap and small cap indices respectively. These indices were performing much better than BSE Sensex for 4 years consecutively and correction was long due. Among sectors, IT did extremely well. Apart from visa/immigration worries waning, companies saw good orders as clients were more willing to spend. FMCG and banking were other sectors that gave positive returns. Telecom and real estate were among the biggest drags during the year. Intense competition among players has dented into business model of telcos. FIIs were net sellers in Indian equities in 2018, pulling out USD 4.38 Bn. Retail investors continued to show faith in Indian growth story. Retail flows have been very strong since 2014, when incumbent government was voted to power. Net equity money by investors in MFs was Rs 1,239 Bn (USD 17.7 Bn) in 11 months of 2018, similar to last year but much above past history. We remain long term bulls on the Indian economy and equities. It is likely to be one of fastest growing economies in the world for many years to come. Consumption and infrastructure investments are themes for India which have long legs. Being a domestic consumption led economy, India is well protected from any global problems. Fall in markets in past months gave us an opportunity to deploy significant part of our cash, after a long wait. Retail investors should continue to invest through systematic plans given that our portfolio offers a reasonable upside. Those with under-allocation to equities can consider putting lump sum to take advantage. Data Source: Bloomberg 3

4 Debt Outlook Pankaj Pathak - Fund Manager - Fixed Income Bond markets to face another year of Extreme Uncertainties After riding a roller coaster in 2017 and 2018 the bond markets are likely to face another year of extreme uncertainty in 2019 as well. Domestic inflation trajectory, political developments, crude oil prices and global rates may continue to defy any market expectations of stability. Bond yields have been on declining trend since mid-september 2018 following a sharp decline in crude oil prices, muted inflation trend and an aggressive OMO (government bond) purchases by the RBI. Moreover, the change in RBI s top management has also set an optimistic tone (easy liquidity; rate cuts) in the market going into the New Year. Chart-I: India bonds gyrate with Oil Prices Chart-II: Is this Indian QE? We acknowledge the recent improvements in the macroeconomic environment especially from the lower oil prices and softer global climate. But we see an increased uncertainty around the interest rate cycle emanating from (1) potential populist policy measures by the government to address rural distress, (2) sharp reversal in food prices and consequently in overall inflation, (3) uncertainty on crude oil prices and (4) political developments (uncertainty) around 2019 elections. The CPI inflation has been on declining trend throughout But the internal components of the CPI basket had shown a divergent trend. While the food price had been declining sharply which pulled down the headline CPI, the non-food CPI basket continued to move higher. The government sharply raised the minimum support prices (MSP) on various food items but till now it has failed to revive prices in the agricultural market. Chart-III: Food Prices shows that farmer distress is for real Chart-IV: BJP lost in 2004 on farmer angst, can they afford to ignore now? The current level of food inflation looks unsustainable for the agricultural economy; however if it continues it can further aggravate the rural distress. This can also derail the government s electoral promise of doubling the farm income by Given the rural influence in electoral outcomes, the government policies may also be shaped to push up the food prices. 4

5 Chart-V: Low Rural wages Are they signs of increased unemployment? Table 1: Farm Economics is good politics? States Farm Loan Waiver (Rs. Crore) Karnataka 44,000 Madhya Pradesh 38,000 Uttar Pradesh 36,000 Maharashtra 3,400 Chhattisgarh 6,100 Tamil Nadu 1,800 Punjab 1,500 Andhra Pradesh 3,600 Telangana 300 Assam 650 Source- CMIE Source- Bloombergquint report Looking into the political campaigns for state assembly elections in the last two years, it is clearly evident that the populist spending in the rural economy is going to increase substantially in the form of farm loan waivers, income support schemes and/or other market intervention mechanism. These steps will boost the rural consumption going forward but will also put an upward pressure on the inflation cycle over the period. Additionally it will also require some reduction in capital expenditure budget and increase in fiscal deficit for states and the central governments. Indian governments have very high share of committed expenditure, like Salaries, Interest repayments, Subsidies and hence any increase in such populist schemes prior to elections should ideally lead to higher fiscal deficit. Apart from the worries on inflation and fiscal, the uncertainty in the global crude oil market may also continue. A sharp move in any direction can have a significant impact on the inflation trajectory and on the direction of the Indian Rupee. Though we do not expect CPI inflation to move higher into an alarming zone but there are significant upside risks to the current trajectory. The RBI in its latest monetary policy review had lowered its inflation forecast for the next year and also hinted towards a potential rate cut if inflation continues to remain low. The new RBI governor Mr. Shaktikanta Das in his initial comments seemed a lot more growth focused to us and we believe he will add a dovish (easing) tilt into the monetary policy committee (MPC). There is thus a reasonable probability of reduction in policy repo rates by basis points in next two quarters. However, we believe the uncertainty around the future inflation trajectory will pose a challenge in front of the MPC while setting the policy rates. The bond markets will also be watchful of the developments over the RBI s conflict with the government about its capital reserves position and request for surplus transfer to the government. The impact on the bond markets will be dependent on the modality of excess reserves transfer, if any. In near term bond yields may dip from the current levels in expectation of easier monetary policy. But considering the heightened uncertainties, we are cautious on the interest rate cycle over medium term and do not expect yields to fall and sustain substantially lower than current levels. We still see higher chance of rebound in the inflation readings and due to the likely compromise on fiscal targets by states and central government. The global situation also remains uncertain with concerns on the escalating trade war, global growth and on expectations of interest rate and liquidity changes by the central banks of US, EU and other developed market central banks. In 2019, for the first time since 2009, global central banks will tighten liquidity (Quantitative Tightening - QT) as against Quantitative Easing (QE). This is likely to have impact on global markets including India. Although, the Indian economy may not be impacted, but Indian Rupee, Equities and bonds will get impacted on foreign flows if global markets turn negative. Chart-VI: From QE to QT Chart-VII: Will Foreign investments revive in 2019? 5

6 In the current environment of heightened uncertainties, we advise investors to have a cautious approach about interest rate and credit risk in their portfolio. In our opinion it would be prudent for existing debt investors to reduce their exposure to long duration bond funds and credit funds in this current rally. For debt fund allocation, investors should focus only on debt funds with shorter maturity profile and good credit quality portfolio. Shorter-dated bonds are by no means immune to rising rates, but their returns tend to be less volatile than longer term bonds. Quantum Liquid Fund (QLF) prioritizes safety and liquidity over returns and invests only in less than 91 day maturity instruments issued by Government Securities, treasury bills and top rated PSUs. Quantum Dynamic Bond Fund (QDBF) takes higher interest risks, but does not take any credit risks and is invested only in Government Securities, treasury bills and top rated PSU bonds. In line with our interest rate view, we are keeping a shorter maturity profile in the QDBF portfolio with an objective to have lower interest rate risk. However, we keep looking for signs of mispricing in market and position the portfolio to exploit the opportunity tactically. We always advise investors 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 and can be highly volatile or even negative in a shorter time frame. Data Source: Bloomberg, RBI For Product Label See Page No. 23, 27 Gold Outlook Chirag Mehta - Senior Fund Manager - Alternative Investments World View The Year Gone by 2018 has been a choppy year for gold. Although ending lower for the year with its fair share of ups and downs, broadly speaking gold s held well given that dollar gained about 9% from the lows and commodities collapsed. Gold which traditionally does well in times of political uncertainty has a lot going for it. But gold prices have largely struggled this year as the market has had to readjust its expectations of Federal Reserve policy and its resulting impact in form of a stronger U.S Dollar. Investors have flocked to the U.S. where tax cuts and deregulation have sparked a pick-up in economic growth. This stability in the U.S. economy comes as sluggish growth and a loss of momentum are taking hold elsewhere, making U.S. Treasuries and the dollar the main focus on investor attraction. Two critical factors that have exerted the greatest selling pressure in gold has been the strong US dollar and the Federal Reserve s current monetary policy of quantitative normalization resulting in gold dipping below the $1200 an ounce levels in mid It s been trading sideways as Investors shunned gold and favored the dollar and Treasuries instead; as they weighed the uncertainties surrounding the impact of a U.S.-China trade war on global growth. Despite uncertainty with respect to Trumps unpredictability surrounding decisions still have investors place their bets in dollar for now as opposed to the yellow metal. Given the recent pessimism on outlook for growth in the U.S and other parts of the globe and the fact that Fed can only showcase limited aggression in such a decelerating economic environment, gold has attracted some buying as equity markets now look shaky. Although, prices have recovered from the lows, gold will still end the year with a loss of -3% for the year Outlook US Economy to slowdown US economic growth momentum continues on the back of tax cuts, fiscal stimulus and strong business and consumer confidence. However, there are now some definite signs of slowing and the momentum will certainly fade in the course of 2019 with rising interest rates, further Fed quantitative tightening and as the fiscal stimulus will have run its course. The impact of tightening is now really beginning to kick in, which is not so surprising with the Fed balance sheet having already shrunk by US$383bn since the commencement of the asset reduction plan in October 2017 and on course, under the current schedule, to shrink another US$50bn a month. It is important to look beyond the front-end-loaded impact on the data of tax reform to assess the cyclical threat posed by ongoing monetary tightening. Traditional sectors like housing and autos are well under pressure and will prove a big drag on the economy. The deflationary trend will sooner or later reassert itself as the cyclical momentum succumbs to prevailing high debt levels and higher interest rates. With further slowdown, it s highly expected that Trump in a bid to revive the economy will fire his second bazooka, his infrastructure agenda. But, his practical ability to do so has been significantly diminished by the outcome of the November mid-term elections. A lack of policy momentum resulting from the loss of House control, hence an inability to enact proactive policy to counter the looming fiscal cliff will be something that the markets will be seriously concerned. Fed may overtighten only to take a U-turn The Fed will continue along the lines of what it has been saying. Despite evidence of a slowing economy, it will be hard for it to stop tightening so long as measures of core CPI and wages appear to be trending up. There s really not an impetus for the Fed to halt what it has been doing as it seeks to rebuild credibility. The Fed has raised rates to 2.5% and the dots chart now guides for two more rate increases in 2019 to 3%. Adopting to continue to unwind the balance sheet, the Fed suggests that they are less worried on growth and more concerned to stop the economy from overheating. The difference between short-term and long-dated Treasury yields has been constantly narrowing. If short-term yields move above the long-end of the curve it will end up in what is known as an inverted yield curve. As the Fed continues to tighten in 2019, there is a clear risk that Fed tightens much more than the economy can handle as the underlying cyclical recovery is largely fueled by stimulus, tax cuts and cheap liquidity. The inverted yield curve with potentially put further brakes on economic expansion and undermine confidence and investments. This will have a profound impact on asset markets as this will fuel debate on recession and markets start pricing in a more pessimistic growth outlook than the Fed as it believes that the Fed will overtighten. Yet this will become a stance increasingly hard to maintain in the face of not only falling stocks but also, much more importantly, rising credit spreads as it will badly impact the high yield market which increasingly looks like a bubble. 6

7 Fed tightening stance continues to remain aggressive in comparison to other central banks. Major fallout of this is a relatively stronger dollar. The fact that Trump will find it difficult to deliver further fiscal or infrastructure boost as a response to economic slowdown; he will increase his attack on the Fed to force them towards further liquidity measures and ways to weaken the dollar. Such a scenario will make financial markets nervous and boost gold. If the Fed takes a u-turn in policy as a response to slowing growth and falling asset prices by beginning to cut rates or adopt further unconventional measures like QE; it will be perceived by the markets that the central banks will not be able to normalize monetary policy and that will be a big boost for gold prices. Europe s political crises set to get worsen The expansion in Europe is moderating as a toughening global economic environment challenges their external sector. However, the bigger challenge with Eurozone is concerning its political crises with Italy been a major issue. Last time Italy found itself near bankruptcy, it was saved by the ECB s decision to launch into a decade of money-printing, heavy intervention and massive government bond purchases. However, the ECB is now set to stop and reverse the measures that facilitated this favorable environment that supported the entire European economy after the last recession. This might prove catastrophic for Italy. Rising interest rates will make the debt near-impossible to service without impacting major spending programs and government services. Without external, systemic and extensive support, the country is bound to struggle heavily over the next years. Unlike Greece, Italy will be a far greater challenge to bail out and the failure to do so will have far grimmer implications. It might not be yet clear exactly what kind of move by the EU, the new Italian government would interpret as a step too far and cause them to make good on their warning to launch their alternative plan of considering to exit. However, what we can tell for sure is that the European project, the common currency and the Brussels supremacy will definitely not be able to sustain the blow of another exit, especially if it s Italy that decides to leave. That being said, it should also be obvious that the systemic problems that existed since 2008 have not disappeared; on the contrary, they just became worse. Conclusion Trade tensions, political risks, unwinding fiscal stimulus are the biggest risks to the global economy. Business cycles are maturing in most economies and growth rates are gradually reverting to slower trends in the medium-term. While global growth will continue to decelerate, the economy will also become increasingly vulnerable to shocks as liquidity measures from central banks also come to an end. On a global basis G7 central bank balance sheets have stopped expanding in US dollar terms since April and are on path to a complete stop. All this is likely to undermine confidence, business investment, global trade and growth next year and result in more geo-political tensions that will probably unnerve global financial markets a perfect mix for more volatility in equity, bond and currency markets globally. The financial, economic and political trends in many countries are increasingly getting more supportive of higher gold prices. The world continues to remain in state of great disequilibrium, both with respect to the global economy and geopolitics as well. The fallout of the geopolitics globally seems to now cap the downsides in gold. Given the macroeconomic picture, gold prices should move up gradually and prove to 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 7

8 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 Total Expense Ratio (As on month end) Regular Plan Total TER = 1.46% (Base TER 1.30 % ( inclusive of 0.85% Management Fees, 0.28% Other Expenses & 0.17 % Distributor Commission) % GST (18% GST on 0.85% Management Fees)) Direct Plan - Total TER = 1.29% (Base TER 1.13 % ( inclusive of 0.85% Management Fees & 0.28% Other Expenses) % GST (18% GST on 0.85% 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 December 31, 2018) Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM

9 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 12.99% ^^Beta 0.82 Brokerages on Investments for Distributor commissions paid during ` 38, NIL ^^Sharpe Ratio 0.37 Portfolio Turnover Ratio (Last one year): 6.32% Quantum Long Term Equity Value Fund Performance as on December 31, 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.41 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 (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) December 30, 2011 to December 31, 2018 (7 years) December 31, 2008 to December 31, 2018 (10 years) Since Inception (13th March 2006) ,061 10,723 10, ,755 14,374 14, ,785 18,258 18, ,338 25,869 25, ,246 43,140 41, ,210 40,051 39,698 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 (`) December 29, 2017 to December 31, 2018 (1 year) Since Inception (1st April 2017) ,045 10,723 10, ,151 12,460 12,130 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 9

10 SIP Performance SIP Performance of Quantum Long Term Equity Value Fund as on December 31, 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 December 31, 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 December 31, 2018 Software Finance 15.67% 14.77% Auto 13.80% Banks 11.59% Power 8.49% Pharmaceuticals Cement Hotels, Resorts And Other Recreational Activities Gas Ferrous Metals 4.26% 3.53% 3.16% 4.93% 5.54% Oil Construction Project Auto Ancillaries 1.95% 2.75% 2.47% 0% 2% 4% 6% 8% 10% 12% 14% 18% 16% 10

11 Name of Instrument Portfolio as on December 31, 2018 QUANTUM LONG TERM EQUITY VALUE FUND Industry / Rating Quantity Market Value In Lakhs % to Net Assets EQUITY & EQUITY RELATED A) Listed /Awaiting listing on Stock Exchanges 1. Housing Development Finance Corporation Limited Finance 3,73,763 7, % 2. Infosys Limited Software 10,24,210 6, % 3. Bajaj Auto Limited Auto 2,02,108 5, % 4. Hero MotoCorp Limited Auto 1,76,214 5, % 5. ICICI Bank Limited Banks 12,50,895 4, % 6. State Bank of India Banks 14,83,361 4, % 7. Wipro Limited Software 12,05,937 3, % 8. The Indian Hotels Company Limited Hotels, Resorts And Other Recreational Activities 26,60,205 3, % 9. Tata Consultancy Services Limited Software 1,95,873 3, % 10. GAIL (India) Limited Gas 9,02,910 3, % 11. LIC Housing Finance Limited Finance 6,64,315 3, % 12. Shriram Transport Finance Company Limited Finance 2,43,167 3, % 13. Tata Steel Limited Ferrous Metals 5,55,366 2, % 14. NTPC Limited Power 19,20,869 2, % 15. Power Grid Corporation of India Limited Power 13,83,168 2, % 16. Cipla Limited Pharmaceuticals 4,92,999 2, % 17. Lupin Limited Pharmaceuticals 3,01,353 2, % 18. Oil & Natural Gas Corporation Limited Oil 16,92,984 2, % 19. Ambuja Cements Limited Cement 10,94,810 2, % 20. Larsen & Toubro Limited Construction Project 1,58,466 2, % 21. PTC India Limited Power 23,81,506 2, % 22. ACC Limited Cement 1,38,046 2, % 23. Exide Industries Limited Auto Ancillaries 6,70,819 1, % 24. Yes Bank Limited Banks 9,85,420 1, % 25. Tata Motors Limited Auto 10,09,893 1, % 26. Tata Steel Limited - Partly Paid Share Ferrous Metals 24, % B) Unlisted NIL NIL Total of all Equity 85, % MONEY MARKET INSTRUMENTS A) Treasury Bills (T-Bill) Days Tbill (MD 31/01/2019) Sovereign 25,00,000 2, % Days Tbill (MD 13/06/2019) Sovereign 50, % Total of T-Bill 2, % B) TREP s* 3, % Total of Money Market Instruments 6, % Net Receivable/(payable) (3.01) 0.02% Grand Total 92, % * 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 6.73% (FBIL Overnight MIBOR for 31st ) 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 11

12 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 Total Expense Ratio (As on month end) Regular Plan - Total TER = 1.46 % (Base TER 1.30 % ( inclusive of 0.85% Management Fees, 0.28% Other Expenses & 0.17 % Distributor Commission) % GST (18% GST on 0.85% Management Fees)) Direct Plan - Total TER = 1.29% (Base TER 1.13 % ( inclusive of 0.85% Management Fees & 0.28% Other Expenses ) % GST (18% GST on 0.85% 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 December 31, 2018) Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) Dividend Option Growth Option AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 73.76

13 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 13.18% ^^Beta 0.83 Brokerages on Investments for Distributor Commissions paid during ` NIL ^^Sharpe Ratio 0.37 Portfolio Turnover Ratio (Last one year): 8.59% Quantum Tax Saving Fund Performance as on December 31, 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. 41 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 (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) December 30, 2011 to December 31, 2018 (7 years) December 31, 2008 to December 31, 2018 (10 years) Since Inception (23rd Dec 2008) ,036 10,723 10, ,817 14,374 14, ,823 18,258 18, ,354 25,869 25, ,766 43,140 41, ,680 42,964 41,258 Past performance may or m ay 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 (`) December 29, 2017 to December 31, 2018 (1 year) Since Inception (1st April 2017) ,019 10,723 10, ,150 12,460 12,130 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 13

14 SIP Performance Quantum Tax Saving Fund as on December 31, 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 December 31, 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, 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 December 31, 2018 Software Finance 15.47% 14.58% Auto 13.45% Banks 11.68% Power 8.55% Pharmaceuticals 5.69% Cement Hotels, Resorts And Other Recreational Activities Gas Ferrous Metals 4.34% 4.27% 3.45% 3.04% Oil Construction Project Auto Ancillaries 2.51% 1.94% 2.72% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 14

15 Name of Instrument Portfolio as on December 31, 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. Housing Development Finance Corporation Limited Finance 29, % 2. Infosys Limited Software 81, % 3. Hero MotoCorp Limited Auto 13, % 4. Bajaj Auto Limited Auto 15, % 5. ICICI Bank Limited Banks 1,02, % 6. State Bank of India Banks 1,17, % 7. The Indian Hotels Company Limited Hotels, Resorts And Other Recreational Activities 2,13, % 8. Wipro Limited Software 93, % 9. Tata Consultancy Services Limited Software 15, % 10. LIC Housing Finance Limited Finance 52, % 11. GAIL (India) Limited Gas 70, % 12. NTPC Limited Power 1,64, % 13. Shriram Transport Finance Company Limited Finance 19, % 14. Tata Steel Limited Ferrous Metals 42, % 15. Lupin Limited Pharmaceuticals 25, % 16. Cipla Limited Pharmaceuticals 39, % 17. Power Grid Corporation of India Limited Power 1,04, % 18. Oil & Natural Gas Corporation Limited Oil 1,34, % 19. Ambuja Cements Limited Cement 83, % 20. Larsen & Toubro Limited Construction Project 12, % 21. PTC India Limited Power 1,91, % 22. Exide Industries Limited Auto Ancillaries 53, % 23. Yes Bank Limited Banks 78, % 24. Tata Motors Limited Auto 79, % 25. ACC Limited Cement 8, % 26. Tata Steel Limited - Partly Paid Share Ferrous Metals 1, % B) Unlisted NIL NIL Total of all Equity 6, % MONEY MARKET INSTRUMENTS A) TREP s* % Net Receivable/(payable) % Grand Total 7, % * Cash & Cash Equivalents Product Labeling Name of the Quantum Tax Saving Fund (An Open Ended Equity Linked Saving with a Statutory Lock in of 3 years and Tax Benefit) 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 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. *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 6.73% (FBIL Overnight MIBOR for 31st ) 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. Low Low Moderately Moderate Moderately High High 15

16 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 Total Expense Ratio (As on month end) Regular Plan Total TER = 0.63 % (Base TER 0.59 % ( inclusive of 0.21% Management Fees, 0.26% Other Expenses & 0.12 % Distributor Commission) % GST (18% GST on 0.21% Management Fees)) Direct Plan - Total TER = 0.51 % (Base TER 0.47 % ( inclusive of 0.21% Management Fees & 0.26% Other Expenses ) % GST (18% GST on 0.21% 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 December 31, 2018) Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 30.14

17 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 14.43% ^^Beta 0.95 Brokerages on Investments for Distributor Commissions paid during ` NIL ^^Sharpe Ratio 0.32 Quantum Equity Fund of Funds Performance as on December 31, 2018 For other s Managed by Mr. Chirag Mehta please see page no.41, 42 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 (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) December 30, 2011 to December 31, 2018 (7 years) Since Inception (20th July 2009) ,450 10,082 10, ,607 14,338 14, ,470 19,671 18, ,655 27,795 25, ,011 28,712 27,189 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns 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 (`) December 29, 2017 to December 31, 2018 (1 year) Since Inception (1st April 2017) ,439 10,082 10, ,268 11,929 12,460 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 17

18 SIP Performance SIP Performance of Quantum Equity Fund of Funds as on December 31, 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 December 31, 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 December 31, 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 8,86, % 2. ICICI Prudential Bluechip Fund-Direct Plan-Growth Option 9,90, % 3. Aditya Birla Sun Life Frontline Equity Fund-Direct Plan-Growth Option 1,84, % 4. Invesco India Growth Opportunities Fund-Direct Plan-Growth Option 11,44, % 5. Franklin India Equity Fund-Direct Plan-Growth Option 67, % 6. Franklin India PRIMA FUND-Direct Plan-Growth Option 40, % 7. L&T Mid Cap Fund-Direct Plan-Growth Option 2,81, % Total of Mutual Fund Units 2, % MONEY MARKET INSTRUMENTS A) TREP s* % Net Receivable/(payable) % Grand Total 3, % * Cash & Cash Equivalents 18

19 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 6.73% (FBIL Overnight MIBOR for 31st ) 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. 19

20 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 Total Expense Ratio (As on month end) Regular Plan Total TER = 0.79 % (Base TER 0.73 % ( inclusive of 0.35% Management Fees, 0.26% Other Expenses & 0.12 % Distributor Commission) % GST (18% GST on 0.35% Management Fees)) Direct Plan - Total TER = 0.67 % (Base TER 0.61 % ( inclusive of 0.35% Management Fees & 0.26% Other Expenses ) % GST (18% GST on 0.35% 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 December 31, 2018) Monthly Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 57.63

21 Weighted Average Maturity as on December 31, 2018 (Years) Brokerages & Commissions Details At the end of the month 2.60 Brokerages on Investments for NIL Modified Duration 1.94 Distributor commissions paid during ` Portfolio Yield 7.32% 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-Oct Nov Dec Asset Allocation & Rating Profile (% of Net Assets) as on December 31, 2018 TREP s & Net Receivable / (Payable) 13.61% Govt. Securities & Treasury Bills Finance 34.71% Finance TREP s & Net Receivable / (Payable) Govt. Securities & Treasury Bills, 51.68% TREP s & Net Receivable / (Payable), 13.61% AAA, 34.71% Sovereign AAA TREP s & Net Receivable / (Payable) Sovereign 51.68% 21

22 Quantum Dynamic Bond Fund Performance as on December 31, 2018 For other s Managed by Mr. Pankaj Pathak please see page no.43 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 (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) Since Inception (19th May 2015) ,413 10,595 10, ,680 12,526 12, ,378 13,180 12,709 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 (`) December 29, 2017 to December 31, 2018 (1 year) Since Inception (1st April 2017) ,403 10,595 10, ,891 11,001 10,549 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 22

23 Name of Instrument Portfolio as on December 31, 2018 QUANTUM DYNAMIC BOND FUND Rating Market Value In Lakhs % to Net Assets DEBT INSTRUMENTS 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 % % SIDBI NCD SrXII (MD 15/04/2021) CRISIL AAA % % NABARD NCD SR 18 G (MD 30/09/2020) CRISIL AAA % Total of Bonds 1, % II) Government Securities % GOI (MD 08/01/2028) Sovereign % % GOI (MD 09/06/2020) Sovereign % % GOI (MD 19/12/2022) Sovereign % Total of Government Securities 1, % B) Privately Placed/Unlisted NIL NIL C) Securitized Debt Instruments NIL NIL Total of Debt Instruments 3, % MONEY MARKET INSTRUMENTS A) Treasury Bills (T-Bill) Days Tbill (MD 24/10/2019) Sovereign % Days Tbill (MD 21/11/2019) Sovereign % Days Tbill (MD 12/12/2019) Sovereign % Total of T-Bills 1, % B) Commerical Papers (CP) Total of CPs - - C) TREP s* % Total of Money Market Instruments 2, % 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. 23

24 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 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 Entry/ Sales Load ` Not Applicable Total Expense Ratio (As on month end) Regular Plan Total TER = 0.24 % (Base TER 0.22 % ( inclusive of 0.07% Management Fees, 0.09% Other Expenses & 0.06 % Distributor Commission) % GST (18% GST on 0.07% Management Fees)) Direct Plan - Total TER = 0.18 % (Base TER 0.16 % ( inclusive of 0.07% Management Fees & 0.09% Other Expenses ) % GST (18% GST on 0.07% 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 December 31, 2018) Daily Dividend Option Monthly Dividend Option Growth Option Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM

25 Weighted Average Maturity as on December 31, 2018 (Days) Brokerages & Commissions Details At the end of the month 34 Brokerages on Investments for ` 11, Average during the month 40 Modified Duration 32 Distributor commissions paid during ` 3, Portfolio Yield 6.69% 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-Oct Nov Dec Asset Allocation & Rating Profile (% of Net Assets) as on December 31, 2018 Finance 21.08% TREP s & Net Receivable / (Payable) 11.23% TREP s & Net Receivable / (Payable) Govt. Securities Power, 17.45% Power Finance Govt. Securities 50.24% TREP s & Net Receivable / (Payable) 11.23% TREP s & Net Receivable / (Payable) A1+ Sovereign Sovereign 50.24% A % 25

26 Quantum Liquid Fund Performance as on December 31, 2018 For other s Managed by Mr. Pankaj Pathak please see page no.43 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 (`) December 24, 2018 to December 31, 2018 (7 Days)* December 16, 2018 to December 31, 2018 (15 Days)* November 30, 2018 to December 31, 2018 (1 Month)* December 31, 2017 to December 31, 2018 (1 year)** December 31, 2015 to December 31, 2018 (3 years)** December 31, 2013 to December 31, 2018 (5 years)** December 30, 2011 to December 31, 2018 (7 years)** December 31, 2008 to December 31, 2018 (10 years)** Since Inception (07th April 2006)** ,013 10,015 10, ,028 10,030 10, ,057 10,065 10, ,658 10,758 10, ,077 12,334 12, ,179 14,580 14, ,840 17,255 16, ,300 20,570 18, ,072 24,999 21,857 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 (`) December 24, 2018 to December 31, 2018 (7 Days)* December 16, 2018 to December 31, 2018 (15 Days)* November 30, 2018 to December 31, 2018 (1 Month)* December 31, 2017 to December 31, 2018 (1 Year)** Since Inception (1st April 2017)** ,013 10,015 10, ,027 10,030 10, ,056 10,065 10, ,652 10,758 10, ,123 11,289 11,133 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 26

27 High Name of Instrument Rating Residual Maturity (in days) Market Value In Lakhs % to Net Assets DEBT INSTRUMENTS A) Listed /Awaiting listing on Stock Exchanges NIL NIL NIL % SIDBI NCD (MD 26/02/2019) CARE A , % % EXIM NCD (MD 22/01/2019) CRISIL A % Total of Bonds 2, % B) Privately Placed/Unlisted NIL NIL NIL C) Securitized Debt Instruments NIL NIL NIL Total of Debt Instruments 2, % MONEY MARKET INSTRUEMENTS A) Commerical Papers (CP) 1. NTPC Ltd CP (MD 18/02/2019) CRISIL A , % 2. IRFC LTD CP (MD 23/01/2019) CRISIL A , % 3. Power Grid Corporation Ltd CP (MD 13/02/2019) CRISIL A , % 4. National Bank For Agri & Rural CP (MD 03/01/2019) CRISIL A % 5. National Bank For Agri & Rural CP (MD 21/01/2019) CRISIL A % 6. Power Grid Corporation Ltd CP (MD 29/01/2019) CRISIL A % Total of CPs 6, % B) Treasury Bills (T-Bill) Days Tbill (MD 10/01/2019) Sovereign 10 1, % Days Tbill (MD 31/01/2019) Sovereign 31 1, % Days Tbill (MD 14/02/2019) Sovereign 45 1, % Days Tbill (MD 28/02/2019) Sovereign 59 1, % Days Tbill (MD 14/03/2019) Sovereign 73 1, % Days Tbill (MD 03/01/2019) Sovereign % Days Tbill (MD 08/02/2019) Sovereign % Total of T-Bills 11, % C) TREP s* 2, % Total of Money Market Instruments 20, % Net Receivable / (Payables) % Grand Total 22, % * Cash & Cash Equivalents Product Labeling Portfolio as on December 31, 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 LOW HIGH Investors understand that their principal will be at Low risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 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. 27

28 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) Every Business Day Entry / Sales Load Not Applicable Total Expense Ratio (As on month end) Regular Plan Total TER = 0.18 % (Base TER 0.18 % ( inclusive of 0.06 % Other Expenses & 0.12 % Distributor Commission)) Direct Plan - Base TER (Other Expenses) & Total TER = 0.06 % 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 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 December 31, 2018) Direct Plan Regular Plan (`/Unit) Regular (`/Unit) Plan ( ` / Unit) Growth Option AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 14.92

29 Brokerages & Commissions Details Brokerages on Investments for ` 1, Distributor Commissions paid during ` *Portfolio Turnover Ratio (Last one year): 15.23% Asset Allocation (% of Net Assets) as on December 31, 2018 TREP s & Net Receivable / (Payable) 0.30% TREP s & Net Receivable / (Payable) Units of Quantum Gold Fund Units of Quantum Gold Fund, 99.70% Quantum Gold Savings Fund Performance as on December 31, 2018 For other s Managed by Mr. Chirag Mehta please see page no.41, 42 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 (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) December 30, 2011 to December 31, 2018 (7 years) Since Inception (19th May 2011) ,690 10, ,132 12, ,114 11, ,680 11, ,039 14,403 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calucation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). 29

30 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 (`) December 29, 2017 to December 31, 2018 (1 year) Since Inception (1st April 2017) ,677 10, ,690 10,952 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 December 31, 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 December 31, 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 December 31, 2018 QUANTUM GOLD SAVINGS FUND Quantity Market Value In Lakhs % to Net Assets A) EXCHANGE TRADED FUND UNITS 1. Quantum Gold Fund 1,06,391 1, % Total of Exchange Traded Funds 1, % B) MONEY MARKET INSTRUMENTS 1. TREP s* % Net Receivable/(payable) % Grand Total 1, % * Cash & Cash Equivalents 30

31 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. *Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. 31

32 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 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 Declaration of Net Asset Value (NAV) Every Business Day Entry/ Sales Load Not Applicable Total Expense Ratio (As on month end) Regular Plan Total TER = 0.38 % (Base TER 0.38 % ( inclusive of 0.26 % Other Expenses & 0.12 % Distributor Commission)) Direct Plan - Base TER (Other Expenses) & Total TER = 0.26 % 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 - 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 December 31, 2018) Growth Option Direct Plan (`/Unit) Regular Regular Plan Plan (`/Unit) ( ` / Unit) AUM `(In Crores) (as on December 31, 2018) Average AUM* *Cumulative Daily AuM /No of days in the month Absolute AUM 16.09

33 Key Statistics Brokerages & Commissions Details ^^Standard Deviation 4.78% ^^Beta 0.77 Brokerages on Investments for Distributor Commissions paid during ` NIL ^^Sharpe Ratio 0.44 Quantum Multi Asset Fund Performance as on December 31, 2018 The is Co-Managed by Chirag Mehta and Nilesh Shetty. For other s Managed by Chirag Mehta and Nilesh Shetty. please see page no.41, 42 Mr. Chirag Mehta & Mr. Nilesh Shetty are Fund Managers effective from July 11, 2012 Performance of the scheme Quantum Multi Asset Fund - Direct Plan Current Value ` 10,000 Invested at the beginning of a given period (%) Benchmark (%)#@ (`) Benchmark (`)#@ December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) Since Inception (11th July 2012) ,511 10, ,984 13, ,713 15, ,954 17,777 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calucation. Different Plans shall have a different expense structure. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). # Indicates CRISIL Composite Bond Fund Index (40%) + SENSEX Total Return Index (40%) + Domestic price of Gold (20%) Performance of the scheme Quantum Multi Asset Fund - Regular Plan Current Value ` 10,000 Invested at the beginning of a given period (%) Benchmark (%)#@ (`) Benchmark (`)#@ December 29, 2017 to December 31, 2018 (1 year) Since Inception (1st April 2017) ,498 10, ,170 11,600 Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns 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 # Indicates CRISIL Composite Bond Fund Index (40%) + SENSEX Total Return Index (40%) + Domestic price of Gold Benchmark Return for the scheme till August 2018 is calculated and shown excluding daily rebalancing of weights of 3 Asset Classes in which invests i.e. Equity, Debt and Gold. As the is a daily price scheme and to represent daily rebalancing of weights of the Asset Classes in the Benchmark to make fair comparison with scheme performance, the Benchmark computation as of 30th November, 2018 is done to daily rebalancing of weights of the Asset Classes effective from inception date of the scheme i.e. July 11, 2012 in case of Direct Plan and April 1, 2017 in case of the Regular Plan. 33

34 SIP Performance SIP Performance of Quantum Multi Asset Fund as on December 31, Direct Plan Since Inception SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (` 000) Mkt Value as on December 31, 18 (` 000) (XIRR*) (%) CRISIL Composite Bond Fund Index (40%) + Sensex Total Return Index (40%) + Domestic price of Gold (20%) (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 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 and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. Name of Instrument Quantity Market Value In Lakhs % to Net Assets A) MUTUAL FUND UNITS 1. Quantum Liquid Fund - Direct Plan Growth Option 29,95, % 2. Quantum Long Term Equity Value Fund - Direct Plan Growth Option 8,12, % 3. Quantum Dynamic Bond Fund - Direct Plan Growth Option 1,49, % Total of Mutual Fund Units 1, % B. EXCHANGE TRADED FUND UNITS 1. Quantum Gold Fund 17, % 2. Quantum Nifty ETF 11, % Total of Exchange Traded Fund Units % Total (A+B) 1, % MONEY MARKET INSTRUEMENTS A) TREP s* % Net Receivable/(payable) % Grand Total 1, % * Cash & Cash Equivalents ^^ Note: Risk Free Rate assumed to be 6.73% (FBIL Overnight MIBOR for 31st ) 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. Product Labeling Portfolio as on December 31, 2018 QUANTUM MULTI ASSET FUND Name of the Quantum Multi Asset Fund (An Open Ended Fund of Funds Investing in schemes of Quantum Mutual Fund) This product is suitable for investors who are seeking* Long term capital appreciation & Current income Investments in portfolio of schemes of Quantum Mutual Fund whose underlying investments are in equity, debt/ money market instruments and 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 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. 34

35 QUANTUM GOLD FUND An Open Ended Replicating / Tracking Gold Investment Objective : The Investment Objective of the is to generate returns that are in line with the performance of gold and gold related instruments subject to tracking errors. However, investment in gold related instruments will be made if and when SEBI permits mutual funds to invest, in gold related instruments. The is designed to provide returns that before expenses, closely correspond to the returns provided by gold. Features Fund Manager Mr. Chirag Mehta Work experience: 14 years. He has been managing this fund Since May 01, 2009 Category of Exchange Traded Fund Inception Date (Date of Allotment) February 22, 2008 Benchmark Index Domestic Price of Physical Gold Minimum Application Amount (Under each Option) Directly with Fund: The investors can create / redeem in exchange of Portfolio Deposit and Cash Component in creation unit size at NAV based Price. On the Exchange: Approx equal to price of 1/2 gram of Gold quoted on the NSE. On NSE, the units can be purchased / sold in minimum lot of 1 units and in multiples therefore. Declaration of Net Asset Value (NAV) Investment Options Growth Every Business Day Redemption Proceeds Entry/ Sales Load Not Applicable Current Total Expense Ratio (As on month end) Total TER = 1.03 % (Base TER 0.91 % ( inclusive of 0.70% Management Fees & 0.21 % Other Expenses ) % GST (18% GST on 0.70% Management Fees)) 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 (retail investor can exit the scheme only through secondary market) NAV (as on December 31, 2018) (`/Unit) AUM `(In Crores) (as on December 31, 2018) Growth Option Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month

36 Key Statistics Brokerages & Commissions Details ^^Tracking Error 0.099% Brokerages on Investments for Distributor Commissions paid during NIL NIL *Portfolio Turnover Ratio (Last one year): 1.13% Asset Allocation (% of Net Assets) as on December 31, 2018 TREP s 0.18% Net Receivables/ (Payables), -0.21% GOLD TREP s Net Receivables/(Payables) GOLD, % Quantum Gold Fund Performance as on December 31, 2018 For other s Managed by Mr. Chirag Mehta please see page no.41, 42 Mr. Chirag Mehta is the Fund Manager effective from May 01,2009. Performance of the scheme Quantum Gold Fund Current Value ` 10,000 Invested at the beginning of a given period (%) Domestic Price of Gold (%) (`) Domestic Price of Gold (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) December 30, 2011 to December 31, 2018 (7 years) December 31, 2008 to December 31, 2018 (10 years) Since Inception (22nd Feb 2008) ,697 10, ,138 12, ,260 11, ,742 11, ,905 23, ,689 25,655 Past performance may or may not be sustained in the future. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). The being Exchange Traded Fund has one plan to invest through stock exchange and having a single expense structure. 36

37 Name of Instrument Quantity Market Value In Lakhs % to Net Assets GOLD 1. 1 KG Bar (995 fineness) 173 5, % Gms Bar (999 fineness) % Total of Gold 5, % MONEY MARKET INSTRUMENTS A) TREP s* % Net Receivable/(payable) % Grand Total 5, % * Cash & Cash Equivalents Portfolio as on December 31, 2018 QUANTUM GOLD FUND Product Labeling Name of the Quantum Gold Fund (An Open Ended Replicating / Tracking Gold) This product is suitable for investors who are seeking* Long term returns Investments in physical gold. Low Low Moderately Riskometer Moderate Moderately High High 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. # 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. ^^ Note: Tracking Error is calculated on Annualised basis using 3 years history of daily returns. ^^ Definitions Tracking Error is a measure of how closely a fund follows the index to which it is benchmarked. The more passively the fund is managed, the smaller the tracking error. In the case of Exchange Traded Funds, the lower the Tracking Error, the better. *Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. 37

38 QUANTUM NIFTY ETF An Open Ended Replicating / Tracking Nifty 50 Index Investment Objective : The investment objective of the scheme is to invest in stocks of companies comprising Nifty 50 Index and endeavour to achieve return equivalent to Nifty by Passive investment. The will be managed by replicating the index in the same weightage as in the Nifty 50 Index with the intention of minimizing the performance differences between the scheme and the Nifty 50 Index in capital terms, subject to market liquidity, costs of trading, managing expenses and other factors which may cause tracking error. Features Fund Manager Mr. Hitendra Parekh Work experience: 23 years. He has been managing this fund since July 10, 2008 Category of Exchange Traded Fund Inception Date (Date of Allotment) July 10, 2008 Benchmark Index Nifty 50 TRI Minimum Application Amount (Under each Option) Directly with Fund: The investors can create / redeem in exchange of Portfolio Deposit and Cash Component in creation unit size at NAV based Price. On the Exchange: At prices which may be close to the NAV of QNIFTY Units. On NSE, the units can be purchased / sold in minimum lot of 1 unit and in multiples thereof. The units of QNIFTY issued under the scheme will be approximately equal to the price of 1/10 (one-tenth) of the Nifty 50 Index. Investment Options Growth Declaration of Net Asset Value (NAV) Every Business Day Entry/ Sales Load Not Applicable Current Total Expense Ratio (As on month end) Total TER = % (Base TER % ( inclusive of 0.040% Management Fees & % Other Expenses) % GST (18% GST on 0.040% Management Fees)) 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 (retail Investor can exit the scheme only through secondary market) 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. NAV (as on December 31, 2018) Growth Option Regular Plan ( ` / Unit) (`/Unit) AUM `(In Crores) (as on December 31, 2018) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month

39 Key Statistics Brokerages & Commissions Details ^^Tracking Error 0.049% Brokerages on Investments for Distributor Commissions paid during NIL NIL Portfolio Turnover Ratio (Last one year): 45.84% Quantum Nifty ETF Performance as on December 31, 2018 Mr. Hitendra Parekh is the Fund Manager effective from July 10, Performance of the scheme Quantum Nifty ETF Current Value `10,000 Invested at the beginning of a given period (%) Nifty 50 Total Index (%) Sensex TRI (%) (`) Nifty 50 Total Index (`) Sensex TRI (`) December 29, 2017 to December 31, 2018 (1 year) December 31, 2015 to December 31, 2018 (3 years) December 31, 2013 to December 31, 2018 (5 years) December 30, 2011 to December 31, 2018 (7 years) December 31, 2008 to December 31, 2018 (10 years) Since Inception (10th July 2008) ,443 10,464 10, ,129 14,230 14, ,153 18,342 18, ,282 25,657 25, ,931 41,390 43, ,619 29,616 30,087 Past performance may or may not be sustained in the future. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). The being Exchange Traded Fund has one plan to invest through stock exchange and having a single expense structure. Dividend of Rs. 80 was declared on 9 March return calculated above is inclusive of dividend amount. Industry Allocation (% of Net Assets) as on December 31, 2018 Banks Software Petroleum Products Finance Consumer Non Durables Auto Construction Project Pharmaceuticals Power Cement Ferrous Metals 2.43% 2.13% 1.70% 1.64% 4.09% 7.28% 10.60% 10.37% 9.98% 13.59% 27.42% Non - Ferrous Metals Oil Telecom - Services Consumer Durables Minerals/Mining Gas Transportation Pesticides 1.63% 0.98% 0.95% 0.89% 0.76% 0.75% 0.70% 0.64% Media & Entertainment Telecom - Equipment & Accessories 0.61% 0.51% 0% 5% 10% 15% 20% 25% 30% 39

40 Name of Instrument Product Labeling Portfolio as on December 31, 2018 QUANTUM NIFTY ETF Industry+ Quantity Market Value In Lakhs % to Net Assets EQUITY & EQUITY RELATED A) Listed /Awaiting listing on Stock Exchanges 1. HDFC Bank Limited Banks 2, % 2. Reliance Industries Limited Petroleum Products 4, % 3. Housing Development Finance Corporation Limited Finance 2, % 4. Infosys Limited Software 4, % 5. ITC Limited Consumer Non Durables 10, % 6. ICICI Bank Limited Banks 8, % 7. Tata Consultancy Services Limited Software 1, % 8. Larsen & Toubro Limited Construction Project 1, % 9. Kotak Mahindra Bank Limited Banks 1, % 10. Hindustan Unilever Limited Consumer Non Durables % 11. State Bank of India Banks 4, % 12. Axis Bank Limited Banks 2, % 13. Maruti Suzuki India Limited Auto % 14. IndusInd Bank Limited Banks % 15. Mahindra & Mahindra Limited Auto 1, % 16. Bajaj Finance Limited Finance % 17. Asian Paints Limited Consumer Non Durables % 18. HCL Technologies Limited Software % 19. Sun Pharmaceutical Industries Limited Pharmaceuticals 1, % 20. NTPC Limited Power 3, % 21. Power Grid Corporation of India Limited Power 2, % 22. Tech Mahindra Limited Software % 23. Oil & Natural Gas Corporation Limited Oil 3, % 24. Bharti Airtel Limited Telecom - Services 1, % 25. UltraTech Cement Limited Cement % 26. Hero Name MotoCorp of Instrument Limited Auto % 27. Tata Steel Limited Ferrous Metals % 28. Bajaj Finserv Limited Finance % 29. Titan Company Limited Consumer Durables % 30. Vedanta Limited Non - Ferrous Metals 2, % 31. Wipro Limited Software 1, % 32. Bajaj Auto Limited Auto % 33. Yes Bank Limited Banks 2, % 34. Hindalco Industries Limited Non - Ferrous Metals 1, % 35. Coal India Limited Minerals/Mining 1, % 36. Grasim Industries Limited Cement % 37. GAIL (India) Limited Gas 1, % 38. Tata Motors Limited Auto 2, % 39. JSW Steel Limited Ferrous Metals 1, % 40. Dr. Reddy's Laboratories Limited Pharmaceuticals % 41. Eicher Motors Limited Auto % 42. Adani Ports and Special Economic Zone Limited Transportation % 43. Indian Oil Corporation Limited Petroleum Products 2, % 44. Indiabulls Housing Finance Limited Finance % 45. Bharat Petroleum Corporation Limited Petroleum Products % 46. UPL Limited Pesticides % 47. Zee Entertainment Enterprises Limited Media & Entertainment % 48. Cipla Limited Pharmaceuticals % 49. Bharti Infratel Limited Telecom - Equipment & Accessories 1, % 50. Hindustan Petroleum Corporation Limited Petroleum Products % 51. Tata Steel Limited - Partly Paid Share Ferrous Metals % B). Unlisted NIL NIL Total of all Equity % MONEY MARKET INSTRUMENTS A) TREP s* % Net Receivable/(payable) % Grand Total % * Cash & Cash Equivalents ^^ Note: Tracking Error is calculated on Annualised basis using 3 years history of daily returns. Definitions Tracking Error is a measure of how closely a fund follows the index to which it is benchmarked. The more passively the fund is managed, the smaller the tracking error. In the case of Exchange Traded Funds, the lower the Tracking Error, the better. Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. Name of the Quantum Nifty ETF (An Open Ended Replicating / Tracking Nifty 50 Index) This product is suitable for investors who are seeking* Long term capital appreciation Investments in equity and equity related securities of companies in Nifty 50 Index. Low Low Moderately Riskometer Moderate Moderately LOW HIGH Investors understand that their principal will be at Moderately High Risk High High *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 40

41 SCHEME PERFORMANCE - FUND MANAGER-WISE ATUL KUMAR / NILESH SHETTY QUANTUM LONG TERM EQUITY VALUE FUND Mr. Atul Kumar effective from November 15, 2006 / Mr. Nilesh Shetty effective from March 28, 2011 December 29, 2017 to Dec. 31, 2018 (1 year) December 31, 2015 to Dec. 31, 2018 (3 years) December 31, 2013 to Dec. 31, 2018 (5 years) Sensex TRI (%) Sensex TRI (%) Sensex TRI (%) Quantum Long Term Equity Value Fund - Direct Plan - Growth Option Quantum Long Term Equity Value Fund - Regular Plan - Growth Option NA NA NA NA Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Atul Kumar & Mr. Nilesh Shetty co-manages 2 schemes of Quantum Mutual Fund. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its launch. ATUL KUMAR / SORBH GUPTA QUANTUM TAX SAVING FUND Mr. Atul Kumar effective from December 23, 2008 / Mr. Sorbh Gupta effective from October 1, 2016 December 29, 2017 to Dec. 31, 2018 (1 year) December 31, 2015 to Dec. 31, 2018 (3 years) December 31, 2013 to Dec. 31, 2018 (5 years) Sensex TRI (%) Sensex TRI (%) Sensex TRI (%) Quantum Tax Saving Fund - Direct Plan - Growth Option Quantum Tax Saving Fund - Regular Plan - Growth Option NA NA NA NA Past performance may or may not be sustained in the future. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Atul Kumar manages 2 schemes, Mr. Sorbh Gupta co-manages 1 scheme of the Quantum Mutual Fund. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its launch. CHIRAG MEHTA / NILESH SHETTY QUANTUM MULTI ASSET FUND Mr. Chirag Mehta, Mr. Nilesh Shetty effective from July 11, 2012 December 29, 2017 to Dec. 31, 2018 (1 year) December 31, 2015 to Dec. 31, 2018 (3 years) December 31, 2013 to Dec. 31, 2018 (5 years) 41 Benchmark Return #@ (%) Benchmark Return #@ (%) Benchmark Return #@ (%) Quantum Multi Asset Fund - Direct Plan Quantum Multi Asset Fund - Regular Plan NA NA NA NA Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. # Indicates CRISIL Composite Bond Fund Index (40%) + SENSEX Total Return Index (40%) + Domestic price of Gold (20%) are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Chirag Mehta manages 4 schemes of the Quantum Mutual Fund. Mr. Nilesh Shetty manages 2 schemes of the Quantum Mutual Fund. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its Benchmark Return for the scheme till August 2018 is calculated and shown excluding daily rebalancing of weights of 3 Asset Classes in which invests i.e. Equity, Debt and Gold. As the is a daily price scheme and to represent daily rebalancing of weights of the Asset Classes in the Benchmark to make fair comparison with scheme performance, the Benchmark computation as of 30 th November, 2018 is done to daily rebalancing of weights of the Asset Classes effective from inception date of the scheme i.e. July 11, 2012 in case of Direct Plan and April 1, 2017 in case of the Regular Plan. SCHEME PERFORMANCE - FUND MANAGER-WISE

42 CHIRAG MEHTA QUANTUM GOLD SAVINGS FUND Mr. Chirag Mehta effective from May 19, December 29, 2017 to Dec. 31, 2018 (1 year) Domstic Price of Gold (%) December 31, 2015 to Dec. 31, 2018 (3 years) Domstic Price of Gold (%) December 31, 2013 to Dec. 31, 2018 (5 years) Domstic Price of Gold (%) Quantum Gold Savings Fund - Direct Plan Quantum Gold Savings Fund - Regular Plan NA NA NA NA Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Chirag Mehta manages 4 schemes of the Quantum Mutual Fund. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its launch. CHIRAG MEHTA QUANTUM GOLD FUND Mr. Chirag Mehta effective from May 01, December 29, 2017 to Dec. 31, 2018 (1 year) Domstic Price of Gold (%) December 31, 2015 to Dec. 31, 2018 (3 years) Domstic Price of Gold (%) December 31, 2013 to Dec. 31, 2018 (5 years) Domstic Price of Gold (%) Quantum Gold Fund (ETF) Past performance may or may not be sustained in the future. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Mr. Chirag Mehta manages 4 schemes of the Quantum Mutual Fund. The being Exchange Traded Fund has one plan to invest through stock exchange and having a single expense structure. CHIRAG MEHTA QUANTUM EQUITY FUND OF FUNDS Mr. Chirag Mehta effective from November 1, December 29, 2017 to Dec. 31, 2018 (1 year) 200 TRI (%) December 31, 2015 to Dec. 31, 2018 (3 years) 200 TRI (%) December 31, 2013 to Dec. 31, 2018 (5 years) 200 TRI (%) Quantum Equity Fund of Funds - Direct Plan - Growth Option Quantum Equity Fund of Funds - Regular Plan - Growth Option NA NA NA NA Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Chirag Mehta manages 4 schemes of the Quantum Mutual Fund. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its launch. SCHEME PERFORMANCE - FUND MANAGER-WISE 42

43 PANKAJ PATHAK QUANTUM LIQUID FUND Mr. Pankaj Pathak effective from March 1, 2017 December 29, 2017 to Dec. 31, 2018 (1 year) Crisil Liquid Fund Index (%) December 31, 2015 to Dec. 31, 2018 (3 years) Crisil Liquid Fund Index (%) December 31, 2013 to Dec. 31, 2018 (5 years) Crisil Liquid Fund Index (%) Quantum Liquid Fund - Direct Plan - Growth Option Quantum Liquid Fund - Regular Plan - Growth Option NA NA NA NA Past performance may or may not be sustained in the future. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Pankaj Pathak manages 2 schemes of the Quantum Mutual Fund. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its launch. PANKAJ PATHAK QUANTUM DYNAMIC BOND FUND Mr. Pankaj Pathak effective from March 01, 2017 December 29, 2017 to Dec. 31, 2018 (1 year) December 31, 2015 to Dec. 31, 2018 (3 years) December 31, 2013 to Dec. 31, 2018 (5 years) Crisil Composite Bond Fund Index (%) Quantum Dynamic Bond Fund - Direct Plan - Growth Option NA NA Quantum Dynamic Bond Fund - Regular Plan - Growth Option NA NA NA NA Past performance may or may not be sustained in the future. are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Mr. Pankaj Pathak manages 2 schemes of the Quantum Mutual Fund. The Direct Plan has been in existence for more than 3 year but less than 5 years from inception. Regular plan launched on 1 st April 2017 but not yet completed 3 years period since its launch. Crisil Composite Bond Fund Index (%) Crisil Composite Bond Fund Index (%) SCHEME PERFORMANCE - FUND MANAGER-WISE 43

44 HOW TO READ THE FACTSHEET Fund Manager : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount : This 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 or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests ` 500 every 15th of the month in an equity fund for a period of three years. NAV : The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. Benchmark : A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. Entry Load : A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is ` 100 and the entry load is 1%, the investor will enter the fund at Rs 101. Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that 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 ` 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. 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 : Beta is a measure of an investment's volatility vis-à-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. 44

45 STATUTORY DETAILS & RISK FACTORS Disclaimer, Statutory Details & Risk Factors: Mutual fund investments are subject to market risks read all scheme related documents carefully. Please visit to read scheme specific risk factors. Investors in the (s) are not being offered a guaranteed or assured rate of return and there can be no assurance that the schemes objective will be achieved and the NAV of the scheme(s) may go up and down depending upon the factors and forces affecting securities market. Investment in mutual fund units involves investment risk such as trading volumes, settlement risk, liquidity risk, default risk including possible loss of capital. Past performance of the sponsor / AMC / Mutual Fund does not indicate the future performance of the (s). Statutory Details: Quantum Mutual Fund (the Fund) has been constituted as a Trust under the Indian Trusts Act, Sponsor : Quantum Advisors Private Limited. (liability of Sponsor limited to `1,00,000/-) Trustee : Quantum Trustee Company Private Limited Investment Manager : Quantum Asset Management Company Private Limited. The Sponsor, Trustee and Investment Manager are incorporated under the Companies Act, Specific Risk Factors : The investors of Quantum Equity Fund of Funds, Quantum Gold Savings Fund and Quantum Multi Asset Fund will bear the recurring expenses, transaction charges and loads if any of the s in addition to the expenses, transaction charges and loads of the underlying s. Disclaimer of IISL: Quantum Nifty ETF (Q NIFTY) is benchmarked to Nifty 50 TRI Index are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL is not responsible for any errors or omissions or the results obtained from the use of such index and in no event shall IISL have any liability to any party for any damages of whatsoever nature (including lost profits) resulted to such party due to purchase or sale or otherwise of such product benchmarked to such index. Please refer SID of the Q NIFTY for full Disclaimer clause in relation to the Nifty 50 TRI Index". Disclaimer of NSE: It is to be distinctly understood that the permission given by National Stock Exchange of India Limited (NSE) should not in any way be deemed or construed that the Information Document (SID) of Quantum Gold Fund (QGF) and Quantum Nifty ETF (Q NIFTY) has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the SIDs. The investors are advised to refer to the SID of Q NIFTY for the full text of the Disclaimer clause of NSE. Want To Have The Latest Information About Us? REACH US AT Website Toll Free Helpline / CustomerCare@QuantumAMC.com SMS <QUANTUM> TO Registered Office: Quantum Asset Management Company Pvt Ltd. 7th Floor, Hoechst House, Nariman Point, Mumbai Corporate Identity Number(CIN): U65990MH2005PTC The Factsheet Published as on 12 January