FundSpeak M A R C H

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1 FundSpeak M A R C H

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3 Market Commentary Equity Indian Equity Markets continued their strong performance in 2012 with Nifty and BSE Sensex gaining over 3.25% in February. Nifty and Sensex were up by 16.45% and 14.87% respectively on a YTD basis. The broader markets have rallied more with the BSE Midcap up 8.77% and Small cap up by 6.14% in February. Strong foreign fund flows amid optimism of EU approval of Greek bailout and expectation of additional rate cut backed by lower inflation drove the market up. However, rising oil prices partially dampened market sentiment over the last week of the month The rupee gained by 0.8% in February and has strengthened by 7.6% against the dollar in Foreign institutional investors have bought more than Rs. 25,000 crores worth of Indian equity shares in February and net purchases crossed 7 billion USD in This is in stark contrast to 2011 when FII s were net sellers with net outflows of about $500 million. Inflows to emerging market equities continued to be strong in February. Improvement in Purchasing Managers Index (PMI) data & easing inflation supported the market. January wholesale inflation eased to 6.55% (MoM) against 7.47% last month. The annual consumer price inflation released for the first time was 7.65% in January. India PMI data jumped to 8-month high at 57.5 in January compared to 54.2 in December. However the eight core industries grew by 0.5% only in January compared to 6.4% in January 2011 mainly due to slackening output of crude oil, steel, and natural gas & petroleum refinery products. India's GDP slipped to 6.1% in the October-December quarter down from 8.3% a year ago. This is the lowest growth rate in more than 2 years and is due to poor performance of the manufacturing, mining and farm sectors. GDP for April-December period has moderated to 6.9% from 8.1% in the first nine months of The fiscal deficit during April to January was 4.35 trillion rupees, or 105.4% of the full-year target, government data showed. January exports rose 10.1% to $25.4 billion while imports rose 20.3% to $40.1 billion, leaving a trade deficit of $14.7 billion. Globally, data across markets is reflecting improving sentiments. US unemployment rate drops to a near-3-year low of 8.3% in January. GDP in the US grew by 3% in the fourth quarter of The growth rate had previously been estimated at 2.8%. The revision was mainly because of increased commercial construction, consumer spending and lower imports. It was the fastest increase in a year and a half. The People's Bank of China (PBOC), announced its decision to lower banks' reserve requirement ratio by 50 basis points to 20.5 % for large commercial banks and 17 % for mid- and small-sized banks. The move will release an estimated 400 billion yuan ($63.54 billion) capital. China's manufacturing sector rose to a 4 month high to 49.7 in February of although it remained in contraction territory. The European Central Bank (ECB) lent banks 530bn for 3 years at low interest rates in a bid to ease the eurozone debt crisis, compared to 489.2bn in December. Standard & Poor's Ratings said that Long Term Refinancing Operations (LTROs) have bought time for eurozone banks to shore up their balance sheets, but haven't cured underlying structural problems in the financial sector has begun on a strong note for global equity markets. Among BRIC countries, Russia leading the pack with 25.84% gains followed by Hang Seng and Nifty with 17.61% and 15.96% gains respectively. For February, Japan was the best performing market with 10.46% gains. Both Nymex and Brent Crude saw huge spikes in February considering the geo-political concerns relating to Iran with gains of 8.3% and 10.8% respectively. Nickel was the worst performing commodity in February with 7.74% losses. Gold saw some profit booking with 2.35% losses while Silver appreciated by 4.5% in February. YTD Silver is the best performing commodity with 24.5% gains. The equity market will continue to experience volatility in the short term and market movement in coming weeks will largely depend on how the domestic & global news flow pans out. Considering the sharp rally in 2012, India now trades at 14x FY'12 earnings (still at discount to 10 year average of 14.7), performance from hereon would be contingent on government s plan towards fiscal consolidation by raising indirect taxes, reducing fuel subsidies in the coming weeks. The key factor for nearterm performance would be crude oil because of India s large dependence on imports. In our funds, we have increased exposure to Banks, Integrated Oil & Gas, Auto & Auto Ancillaries and reduced exposure to Consumer Non-Durables, Pharmaceuticals & Software. Considering the strong FII flows and improving macro conditions, we believe dips should be utilized to increase allocation towards Indian equity. We think investors should not be perturbed by the market volatility and should remain focused on their long term goals. Investors should diversify their portfolio across asset classes. Investors should monitor their existing asset allocation in line with their long term goals for rebalancing their portfolios. We believe that investing systematically (or stagger in tranches) is the best approach to deal with the current equity market volatility. Source: Bloomberg Debt India s real GDP (Gross domestic product) growth fell sharply to an eleven-quarter low of 6.1% y-o-y in Q from 6.9% in Q3, due to a contraction in investments and a drag from net exports. Investments declined as domestic policy issues compounded negative effects from high interest rates and an uncertain global environment. Exports fell sharply, while domestic capacity constraints supported imports. As a result, net exports reduced Q4 GDP growth by 2.1% points from a 3.1% points contribution in Q3. Meanwhile, consumption remained strong, led by both government & private sector spending. The other data points released in early part of February also showed significant growth moderation across the economic activities. India's industrial output growth moderated to 1.8% y-o-y in December from 5.9% in November. The sectorial composition of IIP continued to show a contraction in mining output which was due to a fall in oil and gas production and a moderation in both manufacturing and electricity output growth India s WPI (Wholesale price index) inflation moderated to a less-than-expected 6.6% y-o-y in January from 7.5% in December, led by lower food and core inflation. Food inflation eased to 1.6% y-o-y in January from 2.6% in December, benefiting from a positive base effect since unseasonal rains last year fuelled food prices. Meanwhile, core (non-food manufactured) inflation eased to 6.7% from 7.7% as base effects and lower commodity prices in H offset higher price pressure from INR depreciation. The fall in headline inflation below the RBI s March projection of 7% and the second consecutive monthly fall in core inflation raises the probability of a repo rate cut in near future. However it is expected that Reserve Bank of India will now wait for data points on this year fiscal slippage and level consumption spending in FY13 to gauge government borrowing requirement in FY13 and thereby draft its more clear perspective on the liquidity and inflation management front. Brent crude is trading close to three-year highs at $123 per barrel, and geopolitical tensions in Iran and better economic growth prospects across the globe due to a sharp liquidity released by central banks will likely result in prices continuing to stay high, having a negative impact on the country s economic scenario. India is coming out of a period of high inflation, high interest rates and falling growth and if this trend continues on the back of rising oil prices, it will lead to a sharper fall in growth leading to a downward-spiral growth trend. Though the growth numbers are clearly indicating that economic activity is slowing and inflation is also falling but it is very difficult for RBI to start cutting the rates right now given the higher crude levels which could again trigger inflation, the government`s consumption spending could also fuel inflation. Higher fiscal deficit continues to be a worrisome factor amid private and government consumption demand remaining strong, but contraction in investment and a drag from net exports offset strong consumption demand. The composition of growth remains unfavorable, as a higher fiscal deficit is boosting consumption and crowding out investment. Given all these factors it is very important to understand demand supply equation in the coming financial year. One needs to consider the Budget numbers before one can take a call on rates, the magnitude of the gross government borrowing for next financial year will decide the direction of the longer term yields. RBI cannot make realistic forecasts on inflation to set its monetary policy stance, given the uneven pass-through of oil prices into the economy. The second issue the RBI faces is that it is forced to absorb part of rising government borrowing that arises out of funding the subsidy bill. India's fiscal deficit during January 2012 was Rs.1,05,673 cr and represented a rise of 9% over the fiscal deficit of Rs.96,677 cr in January The fiscal deficit during April-January accounted for % of the budgeted estimates of Rs.4,12,817 cr for In current fiscal subsidy bill is likely to overshoot the fiscal target by over Rs.80,000 cr. Because of which the government has reached highest recorded borrowings in a single fiscal. Now all eyes are set on budget to be announced mid next month it is expected that the fiscal deficit will be in the range of 4.6% which will result in market borrowing of around Rs lakh cr for next fiscal. System liquidity as measured by bids of repo in the LAF (Liquidity Adjustment Facility) of the RBI, was over Rs.1,50,000 cr on a daily basis last week. Money market yields rose on the back of tight liquidity conditions. 1 year certificate of deposits yields moved up to close at 10.15% levels. Yields at the short end of the yield curve will remain pressured due to tight liquidity conditions expected in March. However, the current liquidity situation can get further worse because of advance tax outflows in coming weeks. Because of year end it is expected that banks will raise more deposits. In tight liquidity situation banker`s chase for money will increase money market rates especially short term CD rates. Looking at the overall scenario, G-Sec will continue to be range bound and trade in the range of 8.00%- 8.30%. All data points are sourced from Bloomberg

4 Mirae Asset India Opportunities Fund (An open ended equity oriented scheme) th Factsheet data as on 29 February, 2012 Portfolio Top 10 Holdings Investment Objective To generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities, equity related securities. There is no assurance or guarantee of any returns. Key Information Fund Structure: Fund Managers: An open-ended equity oriented scheme Gopal Agrawal & Neelesh Surana Experience : Managing this fund since April 2008 Gopal Agrawal: Over 12 years of experience in fund management Neelesh Surana: 17 years of experience in Financial Services including Fund Management Allotment Date: April 04, 2008 Benchmark Index: BSE 200 Minimum Investment: Regular: Institutional: Systematic Investment Plan (SIP): Rs. 5,000/- (multiples of Re.1/- thereafter) Rs. 5 crores (multiples of Re.1/- thereafter) Rs. 1,000/- (multiples of Re.1/- thereafter), minimum 6 installments (Monthly), Rs. 1,500/- (multiples of Re.1/- thereafter), minimum 4 installments (Quarterly) ICICI Bank Ltd Infosys Ltd Reliance Industries Ltd HDFC Bank Ltd State Bank of India 3.62 Housing Development Finance Corporation Ltd ITC Ltd Oil & Natural Gas Corporation Ltd Lupin Ltd Bharti Airtel Ltd Asset Allocation Equity Holdings Cash & Other Receivables Non Convertible Debenture 4.52% 0.05% 95.43% Dividend History Record Date 09-Sep Dec-10 Portfolio Highlights Ratios** (Annualised) Dividend Rs per unit Rs per unit We have increased exposure to Banks, Auto, Auto Ancillaries & Gas while we have reduced exposure in Consumer Non - Durables, Petroleum Products and Non Ferrous Metals. Volatility 32.39% Beta 0.97 R Squared 0.97 Sharpe Ratio 0.28 Total Expense Ratio 2.38% Portfolio Turnover Ratio^ 0.93 times ** Risk free rate is assumed to be the 91 day T bill yield. Average calculated from Mar.'11 to ^ Feb.'12. Basis last rolling 12 months. Industrywise Equity Holdings* Banks Software Consumer Non Durables 9.73 Pharmaceuticals 7.18 Petroleum Products 6.35 Finance 5.73 Auto 5.11 Auto Ancillaries 4.40 Oil 3.34 Gas 2.65 Media & Entertainment 2.63 Telecom - Services 2.17 Transportation 2.12 Construction Project 1.98 Non - Ferrous Metals 1.98 Power 1.96 Chemicals 1.96 Minerals/Mining 1.73 Industrial Capital Goods 1.72 Ferrous Metals 1.55 Construction 1.02 Cement 0.90 Consumer Durables 0.40 *Industry wise classification as recommended by AMFI

5 Mirae Asset Global Commodity Stocks Fund (An open ended equity fund) th Factsheet data as on 29 February, 2012 Investment Objective To generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are engaged in commodity and commodities related sectors/sub sectors/industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets. There is no assurance or guarantee of any returns. Key Information Fund Structure: Fund Managers: Portfolio Highlights We have increased exposure to Oil & Gas Exploration & Production, Integrated Oil & Gas while we have reduced exposure to Diversified Metals & Mining and Steel. Country Allocation - Equity Country Name An open-ended equity fund $ $ Gopal Agrawal, Neelesh Surana (India Portion) & Basavraj Shetty $ Experience : Managing this fund since August 2008 Gopal Agrawal: Over 12 years years of experience in fund management Neelesh Surana: 17 years of experience in Financial Services including Fund Management Basavraj Shetty: 7.5 years of experience in Equity Research Analysis including Fund Management (Overseas Investments) Allotment Date: August 20, 2008 Benchmark Index: Minimum Investment: Regular: Systematic Investment Plan (SIP): MSCI Asia Pacific ex Japan and India Energy and Materials Index (55%) + MSCI Brazil Energy and Materials Index (10%) + MSCI India Energy and Materials Index (35%) (with MSCI's 10/40 Equity Index Methodology). Rs. 5,000/- (multiples of Re.1/- thereafter) Rs. 1,000/- (multiples of Re.1/- thereafter), minimum 6 installments (Monthly), Rs. 1,500/- (multiples of Re.1/- thereafter), minimum 4 installments (Quarterly) % of Net Assets India China Australia Brasil 8.22 Indonesia 7.31 Korea 1.80 Russia 1.39 Portfolio Holdings Equity Shares (International - Top 10 Holdings) BHP Billiton Ltd Rio Tinto Ltd Tambang Batubara Bukit Asam Ltd China National Building Materia Ltd Oil Search Ltd Cnooc Ltd Orica Ltd Woodside Petroleum Ltd Jiangxi Copper Company Ltd Beijing Enterprises Holdings Ltd Equity Shares (Domestic - Top 10 Holdings) Reliance Industries Ltd Oil & Natural Gas Corporation Ltd Hindalco Industries Ltd Jindal Steel & Power Ltd Coal India Ltd GAIL (India) Ltd Tata Steel Ltd Asian Paints Ltd Ambuja Cements Ltd Ultratech Cement Ltd Industrywise Equity Holdings Industry Allocation (Domestic Equities)* Petroleum Products 9.04 Ferrous Metals 5.32 Non - Ferrous Metals 4.02 Cement 3.19 Oil 2.97 Minerals/Mining 2.40 Gas 2.31 Consumer Non Durables 1.25 Pesticides 0.98 International Equities, ADR & GDR Diversified Metals & Mining Oil & Gas Exploration & Production Integrated Oil & Gas 8.01 Coal & Consumable Fuels 7.38 Steel 6.89 Construction Materials 6.21 Commodity Chemicals 3.31 Industrial Conglomerates 2.81 Gold 1.43 Fertilizers & Agricultural Chemicals 1.39 Aluminum 1.07 * Industrywise classification as recommended by AMFI Ratios* * (Annualised) Volatility 29.53% Beta 0.99 R Squared 0.97 Sharpe Ratio 0.09 Total Expense Ratio 2.50% Portfolio Turnover Ratio^ 0.41 Times **Risk free rate is assumed to be the 91 day T bill yield. Average calculated from Mar.'11 ^ to Feb. 12. Basis last rolling 12 months. Asset Allocation International 1.39% 3.23% Equity Holdings 8.22% Domestic Equity Holdings American Depository Receipt Global 31.48% Depository Receipt Cash & Other Receivables 55.68%

6 Mirae Asset China Advantage Fund (An open ended Fund of Funds Scheme) th Factsheet data as on 29 February, 2012 Investment Objective The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns. Portfolio Top 10 Holdings Mutual Fund Units & ETF Mirae Asset China Sector Leader Equity Fund Key Information Fund Structure: An open ended Fund of Funds Scheme Fund Managers: Gopal Agrawal & Neelesh Surana Experience : Managing this fund since Nov 2009 Gopal Agrawal: Over 12 years of experience in fund management Neelesh Surana: 17 years of experience in Financial Services including Fund Management Allotment Date: November 05, 2009 Benchmark Index: MSCI China (in INR Terms) Minimum Investment: Regular: Rs. 5,000/- (multiples of Re.1/- thereafter) Systematic Investment Plan (SIP): Rs. 1,000/- (multiples of Re.1/- thereafter), minimum 6 installments (Monthly), Rs. 1,500/- (multiples of Re.1/- thereafter), minimum 4 installments (Quarterly) Portfolio Highlights Policy normalization remains the medium-term investment strategy in the underlying funds portfolios. Over the last month, the fund manager of the underlying funds have raised the exposure to the consumer discretionary sector including auto and retail. On the other hand, the fund manager of the underlying funds has added to policy easing beneficiary names in the financial sector such as insurance and property names. On the contrary, the fund manager of the underlying funds has trimmed some holdings in energy. Ratios* * (Annualised) Volatility 19.35% Beta 1.06 R Squared 0.87 Sharpe Ratio Total Expense Ratio 2.14% **Risk free rate is assumed to be the 91 day T bill yield. Average calculated from Mar.'11 to Feb.'12. The investors, in addition to the above recurring expense shall also bear the recurring expenses of the underlying scheme. However, the total recurring expenses (including the recurring expenses of the underlying scheme) will not exceed 2.50% p.a. Underlying Fund Top 10 Holdings* st as on 31 December, 2011 Mirae Asset China Sector Leader Equity Fund Equity Shares Kunlun Energy 7.30 China Merchant Bank 6.20 China Unicom(HK) Ltd China Agri-Industries Holding Ltd Industrial & Commercial Bank of China 5.20 Dongfang Electric 4.90 China Construction Bank 4.90 Sinopharm 4.80 Weichai Power 4.50 PICC Property and Casualty 4.50 * The Underlying Fund holdings are given with a 2 months lag as per the internal portfolio holding release guidelines for SICAV Funds. Asset Allocation International Mutual Fund Units Cash & Other Receivables 99.22% 0.78% Market Overview - February 2012 The Chinese market went up in February continuing on the strong run in January. MSCI China rose 6.53% in USD terms for the month of February, capping two months of gains. China s stock market rose due to better-than-expected global macro data (e.g. fewer jobless claims in U.S., improving business/consumer confidence in Germany, etc.); easing concerns on EU-debt issues and local factors like central bank s RRR cut and speculation on local governments property easing led the stock market rally. China s central bank cut banks reserve requirements by 50bps to 20.5% for the first time this year. Moreover, introduction of additional economic measures such as additional aid packages to help and focus on newly established small enterprises raised the expectation that Chinese government will continue its fine-tuning economic policies and discretionary monetary policies to bolster economic growth in China s January inflation and exports data were disappointing at 4.5% and -0.5% yoy, respectively, largely due to Chinese New Year effects. China s PMI, on the other hand, improved for a second month, posting 50.5 in January.

7 Mirae Asset Emerging Bluechip Fund (An open ended equity fund) th Factsheet data as on 29 February, 2012 Investment Objective Portfolio Top 10 Holdings To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of at least Rs. 100 Crores at the time of investment. From time to time, the fund manager may also seek participation in other Indian equity and equity related securities to achieve optimal portfolio construction. The Scheme does not guarantee or assure any returns. Apollo Tyres Ltd Federal Bank Ltd Amara Raja Batteries Ltd Titan Industries Ltd Gateway Distriparks Ltd Bank of Baroda 3.12 Divis Laboratories Ltd Eicher Motors Ltd Rallis India Ltd CMC Ltd Key Information Fund Structure: Fund Managers: An open-ended equity fund Gopal Agrawal & Neelesh Surana Experience : Managing this fund since July Gopal Agrawal: Over 12 years of experience in fund management. Neelesh Surana: 17 years of experience in Financial Services including Fund Management Allotment Date: July 09, 2010 Benchmark Index: Minimum Investment: Regular: Systematic Investment Plan (SIP): CNX Midcap Index Rs. 5,000/- (multiples of Re.1/- thereafter) Rs. 1,000/- (multiples of Re.1/- thereafter), minimum 6 installments (Monthly), Rs. 1,500/- (multiples of Re.1/- thereafter), minimum 4 installments (Quarterly) Asset Allocation Equity Holdings Cash & Other Receivables 2.21% 97.79% Portfolio Highlights We have increased exposure to Banks, Auto Ancillaries, Cement, Industrial Capital Goods while reduced exposure to Software, Consumer Non - Durables and Chemicals. Ratios* * (Annualised) Volatility 19.39% Beta 0.79 R Squared 0.93 Sharpe Ratio 0.07 Total Expense Ratio 2.50% Portfolio Turnover Ratio^ 1.12 times ** Risk free rate is assumed to be the 91 day T bill yield. Average calculated from Mar. '11 to ^ Feb.'12. Basis last rolling 12 months. Industrywise Equity Holdings* Banks Consumer Non Durables Pharmaceuticals Auto Ancillaries 9.56 Finance 7.69 Software 5.44 Gas 4.08 Cement 3.96 Media & Entertainment 3.58 Transportation 3.48 Auto 3.09 Industrial Capital Goods 2.97 Pesticides 2.80 Chemicals 2.56 Industrial Products 2.10 Minerals/Mining 1.50 Oil 1.28 Paper 1.23 Textile Products 1.09 Consumer Durables 0.83 Power 0.83 Petroleum Products 0.67 *Industry wise classification as recommended by AMFI

8 Mirae Asset India-China Consumption Fund (An open ended equity oriented scheme) th Factsheet data as on 29 February, 2012 Investment Objective The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are likely to benefit either directly or indirectly from consumption led demand in India/ China. The Scheme does not guarantee or assure any returns. Key Information Fund Structure: Fund Managers: Portfolio Highlights An Open Ended Equity Oriented Scheme Gopal Agrawal, Neelesh Surana (India Portion) & Basavraj Shetty (overseas portion) Experience : Managing this fund since March Gopal Agrawal: Over 12 years of experience in fund management. Neelesh Surana: 17 years of experience in Financial Services including Fund Management Basavraj Shetty: 7.5 years of experience in Equity Research Analysis including Fund Management Allotment Date: March 29, 2011 Benchmark Index: MSCI India Consumption Index (65%) + MSCI China Consumption Index (35%) (With Quarterly rebalancing) Minimum Investment: Regular: Systematic Investment Plan (SIP): Country Allocation - Equity Country Name Rs. 5,000/- (multiples of Re.1/- thereafter) Rs. 1,000/- (multiples of Re.1/- thereafter), minimum 6 installments (Monthly), Rs. 1,500/- (multiples of Re.1/- thereafter), minimum 4 installments (Quarterly) % of Net Assets India China We have increased exposure to Banks, Auto Ancillaries & Packaged Foods & Meat while we have reduced exposure to Pharmaceuticals & Consumer Non - Durables. Ratios* * (Annualised) Volatility 11.90% Beta 0.89 R Squared 0.87 Sharpe Ratio 0.02 Total Expense Ratio 2.50% Portfolio Turnover Ratio^ 1.54 times ** Risk free rate is assumed to be the 91 day T bill yield. Average calculated from Mar.'11 to ^ Feb.'12. Basis last rolling 12 months. Portfolio Holdings Equity Shares (International - Top 10 Holdings) China Mobile 8.52 Ind & Comm Bk - H 2.28 Belle Intl Hldgs 1.76 Hengan International Group Co. Ltd China Unicom 1.71 Bank Of China Ltd Dongfeng Motor Group Company Ltd Want Want China Holdings Ltd Tingyi (Cayman Islands) Holdings Corp Golden Eagle Retail Group Ltd Equity Shares (Domestic - Top 10 Holdings) ITC Ltd Tata Motors Ltd Hindustan Unilever Ltd Bharti Airtel Ltd Mahindra & Mahindra Ltd ICICI Bank Ltd GAIL (India) Ltd Titan Industries Ltd Gateway Distriparks Ltd Zee Entertainment Enterprises Ltd Industrywise Equity Holdings Industry Allocation (Domestic Equities)* Consumer Non Durables Auto Banks 4.22 Pharmaceuticals 3.98 Telecom - Services 3.84 Auto Ancillaries 3.55 Gas 2.71 Media & Entertainment 2.57 Transportation 2.20 Textile Products 2.03 Finance 1.84 Cement 1.42 Pesticides 1.41 International Equities Wireless Telecommunication Services 8.52 Diversified Banks 5.31 Packaged Foods & Meats 3.20 Integrated Telecommunication Services 2.97 Automobile Manufacturers 2.60 Apparel Retail 1.76 Personal Products 1.74 Department Stores 1.39 Distributors 1.09 Real Estate Development 0.99 Computer & Electronics Retail 0.97 Health Care Supplies 0.47 * Industrywise classification as recommended by AMFI Asset Allocation Domestic Equity Holdings International Equity Holdings Cash & Other Receivables 31.01% 4.15% 64.84%

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12 Investment Objective: Mirae Asset India Opportunities Fund (An open-ended equity oriented scheme): To generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities, equity related securities. There is no assurance or guarantee of returns. Asset Allocation: (1) Indian Equities and Equity Related Securities: 65% to 100% (2) Money market instruments / debt securities Instruments: 0% to 35% (Including up to 25% of corpus in securitized debt).transparency: The NAV will be calculated at the close of every working day and shall be published in two daily newspapers. Investment Objective: Mirae Asset Global Commodity Stocks Fund (An open-ended equity fund): To generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are engaged in commodity and commodities related sectors/sub sectors/industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets. There is no assurance or guarantee of returns. Asset Allocation: (1) Asia Pacific and/or Emerging Markets Equities and Equity Related Securities (excluding Indian equities and equities related securities) of companies that are engaged in commodity and commodities related sectors/sub sectors/industries: 65% to 100% (2) Indian Equities and Equity Related Securities, including but not limited to those that are engaged in commodity and commodities related sectors/sub sectors/industries: 0% to 35% (3) Money market instruments / debt securities Instruments** (Including upto 25% of corpus in securitized debt) : 0% to 35%. Transparency: The NAV will be calculated at the close of every working day and shall be published in two daily newspapers. Investment Objective: Mirae Asset China Advantage Fund (An open-ended fund of funds scheme): The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns. Asset Allocation: (1) Units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of ETFs investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong*: % (2) Money market instruments / debt securities Instruments** and/or units of debt/liquid schemes of domestic Mutual Funds.: 0-20% (*Equity and Equity related instruments include convertible debentures, equity warrants, convertible preference shares, equity derivatives etc. ** Debt instruments include securitized debt upto 20% of corpus.). Transparency: The NAV will be calculated at the close of every working day and shall be published in two daily newspapers and on the AMFI website by 10 a.m. of the following Business Day. Investment Objective: Mirae Asset Emerging Bluechip Fund (An Open ended Equity Fund) - To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs. 100 Crores at the time of investment. From time to time, the fund manager may also seek participation in other Indian equity and equity related securities to achieve optimal portfolio construction. The Scheme does not guarantee or assure any returns. Asset Allocation: (1) Indian Equities and Equity Related Securities of companies, which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs.100 Crores at the time of investment: 65%-100% (2) Other Indian Equities and Equity Related Securities: 0%-35%; Money market instruments / debt securities Instruments (Including upto 20% of corpus in securitized debt): 0%-35%. Transparency: The NAV will be calculated at the close of every working day and shall be published in two daily newspapers. Investment Objective: Mirae Asset India-China Consumption Fund (An Open ended Equity Oriented Scheme) - The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are likely to benefit either directly or indirectly from consumption led demand in India/ China. The Scheme does not guarantee or assure any returns. Asset Allocation : (1) Indian Equities and Equity Related Securities of companies that are likely to benefit either directly or indirectly from consumption led demand: 65%-90% (2) Chinese Equities and Equity Related Securities of companies that are likely to benefit either directly or indirectly from consumption led demand: 10%-35%; (3) Money market instruments / debt securities Instruments and/or units of debt/liquid schemes of domestic Mutual Funds : 0%-25%. Transparency: The NAV will be calculated at the close of every working day and shall be published in two daily newspapers. Load structure of all the schemes : Entry Load: Nil. In terms of SEBI circular no. SEBI/IMD/CIR No.4/ /09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors' assessment of various factors including the service rendered by the distributor. Exit Load: Redemption within 1 year (365 days) from the date of allotment (Including SIP/STP/SWP) %. Redemption after 1 year (365 days) from the date of allotment - NIL. For Mirae Asset China Advantage Fund (MACAF) : Investors should also be aware that the underlying scheme(s) could charge entry load/exit load which may affect the returns to the investors. The load structure of the underlying scheme(s) may change from time to time. The investor shall bear the scheme recurring expenses in addition to the scheme recurring expenses of underlying scheme. Statutory Details: Sponsor: Mirae Asset Investments Company Limited. Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Global Investments (India) Private Limited. Risk Factors: Mutual fund investments are subject to market risks and there is no assurance or guarantee that the objectives of the scheme will be achieved. As with any investment in securities, the Net Asset Value (NAV) of the units issued under the Schemes can go up or down depending on the factors and forces affecting the capital markets. Investments in mutual funds are prone to risks of fluctuation in NAVs, uncertainty of dividend distributions etc. Past performance of the Sponsor / AMC / Mutual Fund does not guarantee the future performance of the Schemes of Mirae Asset Mutual Fund and may not necessarily provide a basis for comparison with other investments. Mirae Asset India Opportunities Fund, Mirae Asset Global Commodity Stocks Fund, Mirae Asset China Advantage Fund, Mirae Asset Emerging Bluechip Fund & Mirae Asset India-China Consumption Fund are only the names of the schemes and do not in any manner indicate either the quality of the schemes or their future prospects or returns. Please read the respective Scheme Information Document for scheme specific details. Unit holders in the Scheme are not being offered any guaranteed / indicative / assured returns. A copy of SAI / SID / Key Information Memorandum cum Application form will be available at AMC offices / AMC website / Investor Service Centre / Distributors on request. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully (Toll free) customercare@miraeasset.com Mirae Asset Global Investments (India) Private Limited th Unit No. 606, 6 Floor, Windsor Building, Off C. S. T. Road, Kalina, Santacruz - (East), Mumbai Distributed by: