Invest for Long Term Growth while Saving Taxes

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1 Factsheet as on January 2017 Invest for Long Term Growth while Saving Taxes With ELSS Tax weighing scale u/s 80C Savings Taxes Invest Now In Baroda Pioneer ELSS'96 (An Open Ended Tax Benefit-Cum-Growth Scheme) Capital growth over long term Investment predominantly in equity and equity related instruments. about whether the product is suitable for them.

2 CIO Letter Dear Investors, Warm Greetings! The stock markets rallied by 4% during the month of January 17. Finally, the Sensex closed above pre demonetisation levels led by encouraging results by few sectors. Most emerging markets rallied during the month, with Brazilian markets up 13% during the month. Mr. Sanjay Chawla Chief Investment Officer Globally, US president Trump was sworn in as the 45th president of the United States. The first week, saw Trump signing executive orders for building a wall on the Southern US border, pulled US out of the Trans Pacific Partnership trade pact and banned entry of residents from seven countries. From an India perspective, Trump policies on H1B visa is something to be watched for and could weigh on the IT sector performance here. FIIs remained marginal net sellers in Jan with $152mn of outflows. Domestic investors continued to be buyers in the month, with net inflows of ~$697mn. Among DIIs, Mutual Funds led the buying with ~$803mn of inflows while Insurance companies accounted for ~$106mn of outflows. The IIP in Nov 16 grew 5.7% vs. -1.8% in Oct 16. Manufacturing grew 5.5% vs contraction of 2.4% in Oct 16. Mining growth turned positive 3.9% after three months. Electricity recorded the best figure 8.9% in seven months. After having been negative for 12 months, capital goods grew 15%. Consumer durables continued to be healthy 9.8% and consumer non-durables grew 2.9%. CPI inflation for Dec 16 fell further to 3.4% vs. 3.6% in Nov 16. Food inflation was 1.4% in Dec 16 vs. 2.1% the month prior, once again largely due to pulses and vegetable inflation. Vegetables and pulses were in deflation, at -14.6% and -1.6%, respectively. Fuel inflation hardened to 3.8%, from 2.8% the preceding month. Services inflation continued to rise at 4.6% in Dec 16. Core inflation was unchanged at 5% for a second month in a row. Both urban and rural inflation cooled to 2.9% and 3.8% respectively. We expect the ultra-short term rates to trade in softening bias due to ample liquidity in the system and accommodative stance by RBI. However, the short term rates may harden in March due to redemption from money market funds and increase in supply of CP/CDs. The CPI may stay below RBI s projection of 5% by end of FY 17. However, the core inflation may remain sticky. Higher crude and commodity prices may pose upside risk to inflation whereas demonetization may help in softening it. We are expecting the yield curve to move down marginally. We do not expect a sharp rally across the curve. The interest rate is likely to trade in a narrow range. At best, RBI may deliver one rate cut in CY 17 due to lower growth. The key risk to the bond market may be hike in US interest rate. If the US economy does well and FED hikes the rate faster than anticipated, it may cause disruption in the emerging markets including India. Risk may arise out of sharp increase in global crude and commodity prices. The Election Commission announced the dates and phases of election for five states- Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa. UP, the most populous state will have polls conducted between 11th Feb and 8th March, Uttarakhand will go to polls on 15th Feb and Manipur between 4-8th March. We had a good start. The quarter ahead will be dictated by the Union Budget and outcome of elections in UP and Punjab. Happy Investing! Sanjay Chawla Chief Investment Officer Source : Bloomberg, Economic Times 2

3 INDEX Title How To Read Factsheet Pg 4 Baroda Pioneer Growth Fund Pg 5 Baroda Pioneer ELSS 96 Pg 6 Baroda Pioneer Mid Cap Fund Pg 7 Baroda Pioneer Large Cap Fund Pg 8 Baroda Pioneer Banking and Financial Services Fund Pg 9 Baroda Pioneer Balance Fund Pg 10 Baroda Pioneer Monthly Income Plan (MIP) Fund (Monthly income is not assured and is subject to the availability of distributable surplus) Pg 11 Baroda Pioneer Credit Opportunities Fund Pg 12 Baroda Pioneer Gilt Fund Pg 13 Baroda Pioneer Income Fund Pg 14 Baroda Pioneer Dynamic Bond Fund Pg 15 Baroda Pioneer Short Term Bond Fund Pg 16 Baroda Pioneer Treasury Advantage Fund Pg 17 Baroda Pioneer Liquid Fund Pg 18 Investment Performance Pg 19 SIP Returns Pg 23 Dividend History Pg 24 3

4 How To Read Factsheet? Fund Manager : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount : This 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 Rs 500 every 15 th of the month in an equity fund for a period of three years. V : The V or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The V 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. : 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 V at the time of investment. For instance, if the V is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load : Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing V at the time of redemption. For instance, if the V is Rs 100 and the exit load is 1%, the redemption price would be Rs 99 Per Unit. Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield Standard Deviation : Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. 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 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 Scheme : 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. 4

5 Baroda Pioneer Growth Fund An Open Ended Growth Scheme Investors understand that their principal will be at Moderately High risk Capital appreciation over long term Investment predominantly in equity and equity related instruments. To generate long term capital appreciation from an actively managed of equity & equity related instruments. Type of Scheme An Open Ended Growth Scheme Date of Allotment September 12, 2003 Fund Manager # Mr. Sanjay Chawla & (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs) Benchmark S&P BSE 200 Monthly Average AUM () Month end AUM () Crs Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1% if redeemed on or before 365 days from the date of allotment, Nil if redeemed after 365 days from the date of allotment of units Option A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout 2. Reinvestment C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 31 JANUARY 2017 Standard deviation 14.94% 0.78 Beta 0.98 Portfolio Turnover (last 12 months) 2.07 V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Growth Dividend % Plan B (Direct) 2.13% EQUITY & EQUITY RELATED % to Net Infosys Ltd. Software 4.77% HCL Technologies Ltd. Software 4.17% HDFC Bank Ltd. Banks 3.83% Reliance Ltd. Petroleum 3.53% State Bank of India Banks 3.31% Maruti Suzuki India Ltd. Auto 3.27% Hindalco Ltd. Indian Oil Oil & Natural Gas Non - Ferrous Metals Petroleum 3.08% 2.97% Oil 2.74% Tech Mahindra Ltd. Software 2.69% Mahindra & Mahindra Ltd. Auto 2.68% Yes Bank Ltd. Banks 2.57% DCB Bank Ltd. Banks 2.56% Vedanta Ltd. Non - Ferrous Metals 2.40% IndusInd Bank Ltd. Banks 2.37% The Federal Bank Ltd. Banks 2.36% GAIL (India) Ltd. Gas 2.22% Tata Motors Ltd. Auto 2.16% Britannia Ltd. Hindustan Petroleum Consumer Non Petroleum 2.12% 2.11% Divi's Laboratories Ltd. Pharmaceuticals 2.08% RBL Bank Ltd. Banks 2.07% Blue Star Ltd. Motherson Sumi Systems Ltd. Shriram City Union Finance Ltd. Consumer 2.02% Auto Ancillaries 1.97% Finance 1.95% JSW Steel Ltd. Ferrous Metals 1.93% Pidilite Ltd. Chemicals 1.91% Larsen & Toubro Ltd. Emami Ltd. Sadbhav Engineering Ltd. Healthcare Global Enterprises Ltd. Mahindra & Mahindra Financial Services Ltd. Construction Project Consumer Non Construction Project Healthcare Services 1.76% 1.67% 1.65% 1.40% Finance 1.37% Capital First Ltd. Finance 1.35% Gujarat State Petronet Ltd. Gas 1.35% FAG Bearings India Ltd. Sun Pharmaceuticals Ltd. Industrial 1.21% Pharmaceuticals 1.20% NBCC (India) Ltd. Construction 1.17% ITC Ltd. Consumer Non 1.12% ICICI Bank Ltd. Banks 1.09% Indraprastha Gas Ltd. Gas 1.02% The Ramco Cements Ltd. Cement 0.95% Eicher Motors Ltd. Auto 0.93% Engineers India Ltd. Astral Poly Technik Ltd. TeamLease Services Ltd. HPL Electric & Power Ltd. Multi Commodity Exchange of India Ltd. D.B.Corp Ltd. Construction Project Industrial Commercial Services Consumer % to Net 0.90% 0.79% 0.73% 0.68% Finance 0.63% Media & Entertainment 0.61% Aurobindo Pharma Ltd. Pharmaceuticals 0.37% Total 95.79% DERIVATIVES ICICI Bank Ltd. Stock Futures 1.37% Total 1.37% Fixed Deposit CITI Bank Unrated 0.98% Total 0.98% CBLO / Reverse Repo Investments 3.84% Total 3.84% Net Receivable/Payable -1.98% Total -1.98% Media & Entertainment Commercial Services Cement Unrated Construction Stock Futures Healthcare Services Cash & Equivalent Chemicals Ferrous Metals Auto Ancillaries Industrial Consumer Oil Pharmaceuticals Construction Project Gas Consumer Non Finance Non - Ferrous Metals Petroleum Auto Software Banks /Ratings 0.61% 0.73% 0.95% 0.98% 1.17% 1.37% 1.40% 1.86% 1.91% 1.93% 1.97% 2.00% 2.70% 2.74% 3.65% 4.31% 4.59% 4.91% 5.30% 5.48% 8.61% 9.04% 11.63% 20.16% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 *For Disclaimer please refer page no free rate (FBIL Overnight MIBOR) 6.25% & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1,

6 Baroda Pioneer ELSS 96 An Open Ended Tax Benefit - Cum - Growth Scheme Investors understand that their principal will be at Moderately High risk Capital growth over long term Investment predominantly in equity and equity related instruments. The main objective of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, Type of Scheme An Open Ended Tax Benefit- Cum-Growth Scheme Date of Allotment March 31, 1996 Fund Manager # Mr. Sanjay Chawla & (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs) Benchmark S&P BSE 200 Monthly Average Crs AUM () Month end AUM () Crs Minimum Investment 500/- & in multiples of 1/- Nil Exit Load Nil A. Growth Option (default Option option in case no option specified by investor); B. Dividend Option C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 31 JANUARY 2017 Standard deviation 17.03% 0.68 Beta 1.00 Portfolio Turnover (last 12 months) 2.34 V AS ON 31 JANUARY 2017 V (Per Unit) Dividend Bonus Growth Dividend Bonus Growth % Plan B (Direct) 2.25% EQUITY & EQUITY RELATED % to Net HCL Technologies Ltd. Software 4.12% Infosys Ltd. Software 4.05% Reliance Ltd. Petroleum 3.80% HDFC Bank Ltd. Banks 3.74% Maruti Suzuki India Ltd. Auto 3.51% Hindalco Ltd. Non - Ferrous Metals 3.45% DCB Bank Ltd. Banks 3.44% State Bank of India Banks 3.40% Indian Oil Shriram City Union Finance Ltd. Petroleum 3.19% Finance 3.16% Tech Mahindra Ltd. Software 2.96% Mahindra & Mahindra Ltd. Auto 2.70% IDFC Bank Ltd. Banks 2.70% Yes Bank Ltd. Banks 2.64% Divi's Laboratories Ltd. Pharmaceuticals 2.54% Oil & Natural Gas Oil 2.35% JSW Steel Ltd. Ferrous Metals 2.30% Hindustan Petroleum Petroleum 2.27% Pidilite Ltd. Chemicals 2.20% Rural Electrification Finance 2.07% GAIL (India) Ltd. Gas 2.04% Motherson Sumi Systems Ltd. Auto Ancillaries 1.99% NBCC (India) Ltd. Construction 1.97% Tata Motors Ltd. Auto 1.93% Vedanta Ltd. Gujarat State Petronet Ltd. Non - Ferrous Metals 1.84% Gas 1.77% Karnataka Bank Ltd. Banks 1.70% The Federal Bank Ltd. Banks 1.66% HPL Electric & Power Ltd. Larsen & Toubro Ltd. Blue Star Ltd. Healthcare Global Enterprises Ltd. Emami Ltd. Consumer Construction Project Consumer 1.63% 1.58% 1.54% Healthcare Services 1.52% Consumer Non 1.50% IndusInd Bank Ltd. Banks 1.46% Capital First Ltd. Finance 1.43% Britannia Ltd. Consumer Non 1.36% ICICI Bank Ltd. Banks 1.17% Indraprastha Gas Ltd. Gas 1.02% Sadbhav Engineering Ltd. Construction Project 1.01% Eicher Motors Ltd. Auto 1.00% RBL Bank Ltd. Banks 1.00% Mahindra & Mahindra Financial Services Ltd. ITC Ltd. Finance 0.97% Consumer Non 0.94% Engineers India Ltd. Construction Project % to Net 0.86% AIA Engineering Ltd. Industrial 0.77% Multi Commodity Exchange of India Ltd. Finance 0.68% Total 96.93% Fixed Deposit CITI Bank Unrated 1.05% Total 1.05% CBLO / Reverse Repo Investments 2.55% Total 2.55% Net Receivable/Payable -0.53% Total -0.53% **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Industrial Unrated Healthcare Services Construction Auto Ancillaries Cash & Equivalent Chemicals Ferrous Metals Oil Pharmaceuticals Consumer Construction Project Consumer Non Gas Non - Ferrous Metals Finance Auto Petroleum Software Banks /Ratings 0.77% 1.05% 1.52% 1.97% 1.99% 2.02% 2.20% 2.30% 2.35% 2.54% 3.17% 3.45% 3.80% 4.83% 5.29% 8.31% 9.14% 9.26% 11.13% 22.91% $ The Bonus Option in the Schemes has been discontinued effective June 08, free rate (FBIL Overnight MIBOR) 6.25% & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1,

7 Baroda Pioneer Mid-Cap Fund An Open Ended Equity Scheme Investors understand that their principal will be at High risk Capital appreciation over long term. Investment predominantly in equity and equity related securities of growth oriented Mid-Cap stocks. The primary objective of the Scheme is generate capital appreciation by investing predominantly in a diversified of equity and equity related securities of growth oriented mid cap stocks. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized Type of Scheme An Open Ended Equity Scheme Date of Allotment October 4, 2010 Fund Manager # Mr. Sanjay Chawla (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs) Benchmark S&P BSE Mid-cap index (For disclaimer refer pg 22) Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment Exit Load Option SIP (Minimum) 5,000/- & in multiples of 1/- 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option in case no option specified by investor) C. Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 31 JANUARY 2017 Standard deviation 19.67% 0.20 Beta 1.01 Portfolio Turnover (last 12 months) 2.43 V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Growth Dividend % Plan B (Direct) 2.34% EQUITY & EQUITY RELATED % to Net Gujarat State Petronet Ltd. Gas 6.53% Muthoot Finance Ltd. Finance 4.72% PTC India Ltd. Power 4.33% Essel Propack Ltd. AIA Engineering Ltd. Industrial Industrial 3.71% 3.48% Kajaria Ceramics Ltd. Construction 3.38% Arvind Ltd. Textile 3.16% Bharat Electronics Ltd. Crompton Greaves Consumer Electricals Ltd. Industrial Capital Goods Consumer 2.64% 2.62% Syngene International Ltd. Pharmaceuticals 2.62% The Federal Bank Ltd. Banks 2.61% The Indian Hotels Company Ltd. Hotels, Resorts And Other Recreational Activities 2.59% IDFC Bank Ltd. Banks 2.57% NRB Bearings Ltd. Industrial 2.52% UPL Ltd. Pesticides 2.49% Rural Electrification Finance 2.44% V.S.T Tillers Tractors Ltd. Auto 2.35% Schneider Electric Infrastructure Ltd. Industrial Capital Goods 2.21% Shriram City Union Finance Ltd. Finance 2.04% Whirlpool of India Ltd. Consumer 1.96% Alembic Pharmaceuticals Ltd. Pharmaceuticals 1.92% Blue Star Ltd. Britannia Ltd. Consumer Consumer Non 1.81% 1.61% Igarashi Motors India Ltd. Auto Ancillaries 1.50% IDFC Ltd. Finance 1.41% NBCC (India) Ltd. Construction 1.39% Johnson Controls-Hitachi Air Conditioning India Ltd. Gulf Oil Lubricants India Ltd. Consumer Petroleum 1.27% 1.23% Divi's Laboratories Ltd. Pharmaceuticals 1.20% Equitas Holdings Ltd. Finance 1.13% RBL Bank Ltd. Banks 1.05% Dynamatic Technologies Ltd. Auto Ancillaries 1.02% DCB Bank Ltd. Banks 1.01% Max Financial Services Ltd. Finance 0.97% Indraprastha Gas Ltd. Gas 0.97% Cyient Ltd. Software 0.95% Mahindra & Mahindra Financial Services Ltd. Finance 0.92% Motherson Sumi Systems Ltd. Auto Ancillaries 0.91% Tube Investments of India Ltd. Auto Ancillaries 0.89% Multi Commodity Exchange of India Ltd. HPL Electric & Power Ltd. % to Net Finance 0.80% Consumer 0.65% Karnataka Bank Ltd. Banks 0.59% JK Cement Ltd. Cement 0.33% Total 86.47% Fixed Deposit CITI Bank Unrated 2.98% Total 2.98% NTPC Limited CRISIL AAA 0.46% Total 0.46% CBLO / Reverse Repo Investments 3.72% Total 3.72% Net Receivable/Payable 6.37% Total 6.37% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. /Ratings Cement CRISIL AAA Software Petroleum Consumer Non Auto Pesticides Hotels, Resorts And Other Recreational Activities Unrated Textile Auto Ancillaries Power Construction Industrial Capital Goods Pharmaceuticals Gas Banks Consumer Industrial Cash & Equivalent Finance 0.33% 0.46% 0.95% 1.23% 1.61% 2.35% 2.49% 2.59% 2.98% 3.16% 4.32% 4.33% 4.77% 4.85% 5.74% 7.50% 7.83% 8.31% 9.70% 10.09% 14.43% $ The Bonus Option in the Schemes has been discontinued effective June 08, free rate (FBIL Overnight MIBOR) 6.25% 7

8 Baroda Pioneer Large Cap Fund An Open Ended Equity Scheme Investors understand that their principal will be at Moderately High risk Capital appreciation over long term Investment predominantly in a diversified of equity and equity related securities of Large Cap companies. The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified of equity and equity related securities of large cap companies. The Scheme may also invest in debt and money market securities. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized. Type of Scheme An Open Ended Equity Scheme Date of Allotment June 22, 2010 Fund Manager # Mr. Sanjay Chawla (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs) Benchmark Nifty 100 (For disclaimer refer pg 22) Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units Option SIP (Minimum) A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option in case no option specified by investor) C. Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 31 JANUARY 2017 Standard deviation 18.56% 0.80 Beta 1.08 Portfolio Turnover (last 12 months) 3.01 V (Per Unit) V AS ON 31 JANUARY 2017 Growth Dividend Growth Dividend % Plan B (Direct) 2.37% EQUITY & EQUITY RELATED % to Net Indian Oil Petroleum 8.45% Reliance Ltd. Petroleum 6.96% State Bank of India Banks 6.00% HDFC Bank Ltd. Banks 5.93% Larsen & Toubro Ltd. Hindalco Ltd. Construction Project Non - Ferrous Metals 5.93% 5.84% GAIL (India) Ltd. Gas 5.28% JSW Steel Ltd. Ferrous Metals 4.57% Tech Mahindra Ltd. Software 4.40% HCL Technologies Ltd. Software 4.16% ICICI Bank Ltd. Banks 4.13% Infosys Ltd. Software 3.81% Tata Motors Ltd. Auto 3.58% Maruti Suzuki India Ltd. Auto 3.02% Cipla Ltd. Pharmaceuticals 2.95% Zee Entertainment Enterprises Ltd. Vedanta Ltd. Media & Entertainment Non - Ferrous Metals 2.76% 2.59% Kotak Mahindra Bank Ltd. Banks 2.58% Mahindra & Mahindra Ltd. Auto 2.54% Divi's Laboratories Ltd. Pharmaceuticals 1.79% Hindustan Petroleum Petroleum 1.74% Yes Bank Ltd. Banks 1.43% ITC Ltd. Consumer Non 1.32% Eicher Motors Ltd. Auto 1.18% Cummins India Ltd. Industrial 1.07% Siemens Ltd. Industrial Capital Goods 0.88% Total 94.89% DERIVATIVES ICICI Bank Ltd. Stock Futures 0.69% Total 0.69% NTPC Ltd. CRISIL AAA 0.31% Total 0.31% CBLO / Reverse Repo Investments 5.84% Total 5.84% Net Receivable/Payable -1.73% Total -1.73% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. /Ratings CRISIL AAA 0.31% Stock Futures 0.69% Industrial Capital Goods 0.88% Industrial 1.07% Consumer Non 1.32% Media & Entertainment 2.76% Cash & Equivalent 4.11% Ferrous Metals 4.57% Pharmaceuticals 4.74% Gas 5.28% Construction Project 5.93% Non - Ferrous Metals 8.43% Auto 10.32% Software 12.37% Petroleum 17.15% Banks 20.07% $ The Bonus Option in the Schemes has been discontinued effective June 08, free rate (FBIL Overnight MIBOR) 6.25% 8

9 Baroda Pioneer Banking and Financial Services Fund An Open Ended Sectoral Scheme /Ratings Investors understand that their principal will be at High risk Capital appreciation over long term Investment predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector The investment objective is to generate long-term capital appreciation for unit holders from a invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector. Type of Scheme An Open Ended Sectoral Scheme Date of Allotment June 22, 2012 Fund Manager # Mr. Dipak Acharya (Experience 12 yrs) Benchmark Nifty Bank Index* Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Option Exit Load % if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option in case no option specified by investor) C. Bonus Option $ EQUITY & EQUITY RELATED % to Net HDFC Bank Ltd. Banks 17.98% Yes Bank Ltd. Banks 9.48% Kotak Mahindra Bank Ltd. Banks 9.28% ICICI Bank Ltd. Banks 9.13% State Bank of India Banks 8.84% IndusInd Bank Ltd. Banks 6.25% DCB Bank Ltd. Banks 4.73% The Federal Bank Ltd. Banks 3.04% Karnataka Bank Ltd. Banks 2.85% IDFC Bank Ltd. Banks 2.69% Bank of Baroda Banks 2.64% IDFC Ltd. Finance 2.64% Muthoot Finance Ltd. Finance 2.44% Rural Electrification Shriram City Union Finance Ltd. Finance 2.13% Finance 1.89% Axis Bank Ltd. Banks 1.86% Bajaj Finance Ltd. Finance 1.55% L&T Finance Holdings Ltd. Finance 1.36% Capital First Ltd. Finance 1.30% Power Finance Mahindra & Mahindra Financial Services Ltd. Finance 1.30% Finance 1.07% RBL Bank Ltd. Banks 0.99% Multi Commodity Exchange of India Ltd. Finance 0.59% Total 96.03% DERIVATIVES ICICI Bank Ltd. Stock Futures 1.35% Total 1.35% CBLO / Reverse Repo Investments 4.97% Total 4.97% Net Receivable/Payable -2.35% Total -2.35% Stock Futures Cash & Equivalent Finance Banks 1.35% 2.62% 16.27% 79.76% SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 31 JANUARY 2017 Standard deviation 19.95% 0.82 Beta 0.92 Portfolio Turnover (last 12 months) 2.03 V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Bonus Growth Dividend Bonus 3.06% Plan B (Direct) 2.33% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 *For Disclaimer please refer page no free rate (FBIL Overnight MIBOR) 6.25% 9

10 Baroda Pioneer Balance Fund An Open Ended Balanced Scheme Investors understand that their principal will be at Moderately High risk Capital appreciation along with stability over long term Investment predominantly in equity and equity related instruments with balance exposure to money market instruments and debt securities. The scheme is targeted for long-term capital appreciation along with stability through a well balanced comprising of equity,equity related instruments, money market instrument and debt securities. Type of Scheme An Open Ended Balanced Scheme Date of Allotment September 12, 2003 Fund Manager # Mr. Sanjay Chawla & (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs) Benchmark CRISIL Balanced Fund Aggressive index (effective April 4, 2016) Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1% if redeemed on or before 365 days from the date of allotment, Nil if redeemed after 365 days from the date of allotment of units Option A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option in case no option specified by investor) C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 31 JANUARY 2017 Standard deviation 11.34% 0.73 Beta 1.06 Portfolio Turnover (last 12 months) 2.57 V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Bonus Growth Dividend % Plan B (Direct) 1.57% $ The Bonus Option in the Schemes has been discontinued effective June 08, free rate (FBIL Overnight MIBOR) 6.25% & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, EQUITY & EQUITY RELATED % to Net HDFC Bank Ltd. Banks 5.10% HCL Technologies Ltd. Software 3.05% Hindalco Ltd. Non - Ferrous Metals 3.01% Maruti Suzuki India Ltd. Auto 2.80% State Bank of India Banks 2.68% IndusInd Bank Ltd. Banks 2.68% Indian Oil Petroleum 2.61% Mahindra & Mahindra Ltd. Auto 2.21% Infosys Ltd. Software 2.21% Yes Bank Ltd. Banks 2.10% Hindustan Petroleum Petroleum 2.07% Oil & Natural Gas Oil 2.01% Tech Mahindra Ltd. Software 1.97% JSW Steel Ltd. Ferrous Metals 1.88% Shriram City Union Finance Ltd. Finance 1.83% IDFC Bank Ltd. Banks 1.78% Larsen & Toubro Ltd. Construction Project 1.78% Muthoot Finance Ltd. Finance 1.70% Divi's Laboratories Ltd. Pharmaceuticals 1.66% The Federal Bank Ltd. Banks 1.63% NBCC (India) Ltd. Construction 1.61% Pidilite Ltd. Chemicals 1.60% Healthcare Global Healthcare Enterprises Ltd. Services 1.54% DCB Bank Ltd. Banks 1.41% Vedanta Ltd. Non - Ferrous Metals 1.40% GAIL (India) Ltd. Gas 1.30% Motherson Sumi Systems Ltd. Auto Ancillaries 1.24% RBL Bank Ltd. Banks 1.21% Rural Electrification Finance 1.13% ICICI Bank Ltd. Banks 1.07% Tata Motors Ltd. Auto 1.06% Capital First Ltd. Finance 1.03% Blue Star Ltd. Consumer 0.92% Indraprastha Gas Ltd. Gas 0.74% TeamLease Services Ltd. Commercial Services 0.71% HPL Electric & Power Ltd. Consumer 0.71% Engineers India Ltd. Construction Project 0.64% FAG Bearings India Ltd. Industrial 0.63% D.B.Corp Ltd. Media & Entertainment 0.59% Multi Commodity Exchange of India Ltd. Finance 0.56% Mahindra & Mahindra Financial Services Ltd. Finance 0.42% ITC Ltd. Consumer Non 0.41% % to Net Max Financial Services Ltd. Finance 0.16% Total 68.85% DERIVATIVES ICICI Bank Ltd. Stock Futures 2.68% Total 2.68% Fixed Deposit CITI Bank Unrated 1.90% Total 1.90% CENTRAL GOVERNMENT SECURITIES 7.61% CGL 2030 Sovereign 4.27% 7.88% CGL 2030 Sovereign 1.54% 8.24% CGL 2027 Sovereign 1.13% 8.83% CGL 2023 Sovereign 0.44% 8.60% CGL 2028 Sovereign 0.09% 8.28% CGL 2027 Sovereign 0.09% Total 7.56% Vijaya Bank [ICRA]AA- 2.40% Dewan Housing Finance BWR AAA 1.57% Total 3.97% CBLO / Reverse Repo Investments 17.50% Total 17.50% Net Receivable/Payable -2.46% Total -2.46% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. Consumer Non Media & Entertainment Industrial Commercial Services Auto Ancillaries Healthcare Services BWR AAA Chemicals Construction Consumer Pharmaceuticals Ferrous Metals Unrated Oil Gas [ICRA]AA- Construction Project Stock Futures Non - Ferrous Metals Petroleum Auto Finance Software Sovereign Cash & Equivalent Banks /Ratings 0.41% 0.59% 0.63% 0.71% 1.24% 1.54% 1.57% 1.60% 1.61% 1.63% 1.66% 1.88% 1.90% 2.01% 2.04% 2.40% 2.42% 2.68% 4.41% 4.68% 6.07% 6.83% 7.23% 7.56% 15.04% 19.66%

11 Baroda Pioneer Monthly Income Plan (MIP) Fund An Open Ended Income Scheme with no assured returns. (Monthly income is not assured and is subject to the availability of distributable surplus.) Investors understand that their principal will be at Moderate risk Regular Income and capital appreciation over medium term with providing liquidity Investment in debt and money market instruments and in equity and equity related instruments. To generate regular income through investment in debt and money market instruments and also to generate longterm capital appreciation by investing a portion in equity and equity related instruments. Type of Scheme An Open Ended Income Scheme with no assured returns. Date of Allotment September 08, 2004 Fund Manager Ms. Hetal Shah # (Experience 12 yrs) Benchmark CRISIL MIP Blended Index Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load NIL Options SIP (Minimum) Growth Monthly Dividend 1. Payout 2. Reinvestment Quarterly Dividend 1. Payout 2. Reinvestment Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend - Monthly Dividend - Quarterly Growth Dividend - Monthly Dividend - Quarterly Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 4.52 Portfolio Yield (%) % Plan B (Direct) 1.41% % to Net EQUITY & EQUITY RELATED Hindustan Petroleum Petroleum 0.46% HDFC Bank Ltd. Banks 0.43% Indian Oil Petroleum 0.42% DCB Bank Ltd. Banks 0.40% GAIL (India) Ltd. Gas 0.39% Mahindra & Mahindra Ltd. Auto 0.39% State Bank of India Banks 0.38% Tech Mahindra Ltd. Software 0.38% Divi's Laboratories Ltd. Pharmaceuticals 0.29% Maruti Suzuki India Ltd. Auto 0.25% Multi Commodity Exchange of India Ltd. Finance 0.10% Total 3.89% Fixed Deposit CITI Bank Unrated 9.65% Total 9.65% CENTRAL GOVERNMENT SECURITIES 8.60% CGL 2028 Sovereign 14.11% 7.61% CGL 2030 Sovereign 13.52% 7.88% CGL 2030 Sovereign 11.30% 7.59% CGL 2026 Sovereign 4.48% 8.24% CGL 2027 Sovereign 2.29% 7.59% CGL 2029 Sovereign 2.22% Total 47.92% Piramal Enterprises Ltd. [ICRA]AA 6.28% Power Finance Rural Electrification India Infoline Housing Finance Ltd. Power Grid Corporation of India Ltd. CRISIL AAA 5.56% CRISIL AAA 3.82% [ICRA]AA 3.10% CRISIL AAA 2.67% IIFL Facilities Services Ltd. [ICRA]AA 2.52% IDBI Bank Ltd. CRISIL A 2.46% Total 26.41% CBLO / Reverse Repo Investments 9.40% Total 9.40% Net Receivable/Payable 2.73% Total 2.73% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. Petroleum Cash & Equivalent 9.65% Pharmaceuticals 26.41% Finance Software Gas Auto Banks CRISIL A Unrated [ICRA]AA CRISIL AAA Sovereign Rating Profile 0.10% 0.29% 0.38% 0.39% 0.64% 0.88% 1.21% 2.46% 9.65% 11.90% 12.05% 12.13% instruments 47.92% 47.92% 3.89% 2.73% CENTRAL GOVERNMENT 9.40% SECURITIES Fixed Deposit CBLO / Reverse Repo Investments EQUITY & EQUITY RELATED Cash & Cash Equivalents $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 *Monthly income is not assured and is subject to the availability of distributable surplus. 11

12 Baroda Pioneer Credit Opportunities Fund An Open Ended Debt Scheme Investors understand that their principal will be at Moderate risk Income over medium term. Investment in a mix of debt and money market instruments across the credit and maturity spectrum. The primary objective of the Scheme is to generate returns by investing in debt and money market instruments across the credit spectrum. There is no assurance or guarantee that the investment objective of the Scheme will be realized. Type of Scheme An Open Ended Debt Scheme Date of Allotment January 23, 2015 Fund Manager Mr. Alok Sahoo # (Experience 13 yrs), Ms. Hetal Shah # (Experience 12 yrs) Benchmark Monthly Average AUM () Month end AUM () CRISIL Short Term Bond Fund Index Crs Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Options 1%, if redeemed on or before 365 days from the date of allotment of Units. Nil, if redeemed after 365 days from the date of allotment of Units. Growth Monthly Dividend 1.Payout 2.Reinvestment Quarterly Dividend 1.Payout 2.Reinvestment Bonus Option $ MONEY MARKET INSTRUMENT Commercial Paper** % to Net Peninsula Land Ltd. [ICRA]A1 8.51% Simplex Infrastructures Ltd. CARE A1 6.36% Adani Enterprises Ltd. BWR A % IIFL Facilities Services Ltd. CRISIL A % Total 23.27% CENTRAL GOVERNMENT SECURITIES 7.59% CGL 2026 Sovereign 3.11% 7.61% CGL 2030 Sovereign 2.55% 8.40% CGL 2024 Sovereign 0.71% Total 6.37% Dewan Housing Finance BWR AAA 8.28% IIFL Facilities Services Ltd. [ICRA]AA 7.62% Apollo Hospitals Enterprise Ltd. CRISIL AA 7.20% Edelweiss Housing Finance Ltd. [ICRA]AA 5.42% Edelweiss Commodities Services Ltd. CARE AA 4.57% JSW Steel Ltd. CARE AA- 4.52% Aspire Home Finance India Infoline Housing Finance Ltd. Janalakshmi Financial Services Ltd. [ICRA]AA- 3.95% CRISIL AA 2.33% [ICRA]A+ 1.32% India Infoline Finance Ltd. [ICRA]AA 0.91% IDBI Bank Ltd. CRISIL A 0.23% Total 46.35% Unlisted ARM Infra & Utilities Private Ltd. BWR A1+(SO) 7.10% Janalakshmi Financial [ICRA]A+ 4.05% Services Ltd. Tanglin Developments Ltd. BWR A+(SO) 3.34% Total 14.49% CBLO /Reverse Repo investments 7.48% Total 7.48% Net Receivable/Payable 2.04% Total 2.04% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. BWR A1+(SO) Cash & Equivalent 14.49% CRISIL A1+ BWR A+(SO) CARE AA- [ICRA]AA- BWR A1+ Sovereign BWR AAA CRISIL AA 7.48% CRISIL A CARE AA [ICRA]A+ CARE A1 [ICRA]A1 [ICRA]AA 23.27% Rating Profile 0.23% 2.86% 3.34% 3.95% 4.52% 4.57% 5.37% 5.54% 6.36% 6.37% instruments 46.35% 7.10% 8.28% 8.51% 9.52% 9.53% 6.37% 2.04% 13.95% Commercial Paper Unlisted CBLO / Reverse Repo Investments CENTRAL GOVERNMENT SECURITIES Cash & Cash Equivalents V AS ON 31 JANUARY 2017 V (Per Unit) Bonus Growth Dividend - Quarterly Dividend - Monthly Bonus Growth Dividend - Quarterly Dividend - Monthly SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 2.23 Portfolio Yield (%) % Plan B (Direct) 0.54% $ The Bonus Option in the Schemes has been discontinued effective June 08,

13 Baroda Pioneer Gilt Fund An Open Ended Gilt Scheme Investors understand that their principal will be at Moderate risk Credit risk free regular Income over long term Investment only in Government (both Central and State Government) Securities To generate income by investing in a of Government securities. Type of Scheme An Open Ended Gilt Scheme Date of Allotment March 21, 2002 Fund Manager Ms. Hetal Shah # (Experience 12 yrs) Benchmark Monthly Average AUM () Month end AUM () I SEC-MI BEX Crs Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Options SIP (Minimum) 0.25% if redeemed on or before 1 month (30 days) from the date of allotment. Nil if redeemed after 1 month (30 days) from the date of allotment Growth Dividend 1.Payout 2.Reinvestment Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 7.05 Portfolio Yield (%) % Plan B (Direct) 1.11% CENTRAL GOVERNMENT SECURITIES % to Net 7.59% CGL 2029 Sovereign 38.49% 7.59% CGL 2026 Sovereign 15.30% 7.88% CGL 2030 Sovereign 9.84% 8.33% CGL 2026 Sovereign 7.90% 8.24% CGL 2027 Sovereign 7.16% 8.28% CGL 2027 Sovereign 5.40% 8.83% CGL 2023 Sovereign 2.72% 7.61% CGL 2030 Sovereign 2.20% 8.60% CGL 2028 Sovereign 1.61% Total 90.62% STATE GOVERNMENT SECURITIES 9.39% SDL 2023 Sovereign 5.69% Total 5.69% CBLO / Reverse Repo Investments 1.89% Total 1.89% Net Receivable/Payable 1.80% Total 1.80% Cash & Equivalent Sovereign rating profile 3.69% instruments 1.89% 1.80% 5.69% CENTRAL GOVERNMENT SECURITIES 90.62% 96.31% STATE GOVERNMENT SECURITIES CBLO / Reverse Repo Investments Cash & Cash Equivalents $ The Bonus Option in the Schemes has been discontinued effective June 08,

14 Baroda Pioneer Income Fund An Open Ended Income Scheme Investors understand that their principal will be at Moderate risk Regular Income over long term Investment predominantly in good quality Fixed Income Securities by maintaining a balance between Risk & Return. To generate regular income by investing in a of good quality Fixed Income Securities by maintaining a balance between Risk & Return. Type of Scheme Date of Allotment March 21, 2002 Fund Manager Ms. Hetal Shah # Benchmark Monthly Average AUM () Month end AUM () An Open Ended Income Scheme (Experience 12 yrs) CRISIL Composite Bond Fund Index Crs Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1% if redeemed on or before 365 days from the date of allotment. Nil if redeemed after 365 days from the date of allotment Options SIP (Minimum) Growth Dividend 1.Payout 2.Reinvestment Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 5.43 Portfolio Yield (%) % Plan B (Direct) 1.53% MONEY MARKET INSTRUMENT Commercial Paper** % to Net Peninsula Land Ltd. [ICRA]A1 7.23% Total 7.23% CENTRAL GOVERNMENT SECURITIES 7.59% CGL 2026 Sovereign 10.22% 8.40% CGL 2024 Sovereign 8.36% 7.88% CGL 2030 Sovereign 8.25% 7.61% CGL 2030 Sovereign 8.23% 8.83% CGL 2023 Sovereign 7.64% 8.33% CGL 2026 Sovereign 6.33% 8.60% CGL 2028 Sovereign 3.86% 7.59% CGL 2029 Sovereign 2.02% Total 54.91% STATE GOVERNMENT SECURITIES 9.35% SDL 2024 Sovereign 3.22% 8.58% SDL 2023 Sovereign 2.90% 9.39% SDL 2023 Sovereign 1.84% 8.60% SDL 2023 Sovereign 0.55% Total 8.51% Dewan Housing Finance BWR AAA 8.75% IDBI Bank Ltd. CRISIL A 8.62% Janalakshmi Financial Services Ltd. [ICRA]A+ 8.58% Total 25.95% CBLO / Reverse Repo Investments 1.64% Total 1.64% Net Receivable/Payable 1.76% Total 1.76% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Cash & Equivalent 8.51% 25.95% [ICRA]A1 [ICRA]A+ CRISIL A BWR AAA Sovereign rating profile 3.40% 7.23% 8.58% 8.62% 8.75% instruments 54.91% 63.42% 1.76% 1.64% 7.23% CENTRAL GOVERNMENT SECURITIES STATE GOVERNMENT SECURITIES Commercial Paper Cash & Cash Equivalents CBLO / Reverse Repo Investments $ The Bonus Option in the Schemes has been discontinued effective June 08,

15 Baroda Pioneer Dynamic Bond Fund An Open Ended Income Scheme Investors understand that their principal will be at Moderate risk Regular Income over medium term with providing liquidity Investment in medium to long term corporate bonds and / or government securities and manage the dynamically through different interest rate cycles The investment objective of the scheme is to generate returns with liquidity by managing the dynamically through interest rate cycles. Type of Scheme Date of Allotment June 30, 2012 Fund Manager Benchmark Monthly Average AUM () Crs Month end AUM () An Open Ended Income Scheme Mr. Alok Sahoo # (Experience 13 yrs), Ms. Hetal Shah # (Experience 12 yrs) CRISIL Composite Bond Fund Index Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Options SIP (Minimum) 0.50% if redeemed within 3 months from the date of allotment of units, Nil if redeemed after 3 months from the date of allotment of units Growth Dividend 1. Payout 2. Reinvestment Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 3.95 Portfolio Yield (%) % Plan B (Direct) 0.74% MONEY MARKET INSTRUMENT Commercial Paper** % to Net Peninsula Land Ltd. [ICRA]A1 8.57% Total 8.57% CENTRAL GOVERNMENT SECURITIES 7.61% CGL 2030 Sovereign 9.75% 8.28% CGL 2027 Sovereign 8.31% 8.83% CGL 2023 Sovereign 5.03% 7.59% CGL 2029 Sovereign 3.83% 7.59% CGL 2026 Sovereign 3.23% 8.60% CGL 2028 Sovereign 1.02% Total 31.17% STATE GOVERNMENT SECURITIES 9.72% SDL 2023 Sovereign 17.06% Total 17.06% Vijaya Bank [ICRA]AA- 6.09% Dewan Housing Finance Janalakshmi Financial Services Ltd. BWR AAA 6.01% [ICRA]A+ 5.55% IDBI Bank Ltd. CRISIL A 2.96% L&T Finance Ltd. [ICRA]AA+ 0.76% Total 21.37% CBLO / Reverse Repo Investments 19.43% Total 19.43% Net Receivable/Payable 2.40% Total 2.40% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Cash & Equivalent 17.06% 19.43% [ICRA]AA+ CRISIL A [ICRA]A+ BWR AAA [ICRA]AA- [ICRA]A1 Sovereign 8.57% rating profile 0.76% 2.96% 5.55% 6.01% 6.09% 8.57% instruments 21.83% 2.40% 31.17% CENTRAL GOVERNMENT SECURITIES 21.37% 48.23% CBLO / Reverse Repo Investments STATE GOVERNMENT SECURITIES Commercial Paper Cash & Cash Equivalents $ The Bonus Option in the Schemes has been discontinued effective June 08,

16 Baroda Pioneer Short Term Bond Fund An Open Ended Income Scheme Investors understand that their principal will be at Moderately Low risk Regular Income over short term Investment predominantly in Money Market Instruments (i.e. CP/CD) and Short Term Debt Market Instruments The objective of the Scheme is to generate income from a constituted of short term debt and money market securities. Type of Scheme Date of Allotment June 30, 2010 Fund Manager Benchmark Monthly Average AUM () Crs Month end AUM () An Open Ended Income Scheme Mr. Alok Sahoo # (Experience 13 yrs), Ms. Hetal Shah # (Experience 12 yrs) CRISIL Short Term Bond Fund Index Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 0.25% if redeemed on or before 15 days from the date of allotment. Nil if redeemed after 15 days from the date of allotment Options SIP (Minimum) Growth Monthly Dividend^ Quarterly Dividend^ 1. Payout 2. Reinvestment 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 31 JANUARY 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 0.96 Portfolio Yield (%) % Plan B (Direct) 0.45% MONEY MARKET INSTRUMENT Certificate of Deposit** % to Net State Bank of Hyderabad CRISIL A % Total 2.28% Commercial Paper** Edelweiss Agri Value Chain Ltd. CRISIL A % Peninsula Land Ltd. [ICRA]A1 5.54% Adani Enterprises Ltd. BWR A % Edelweiss Commodities Services Ltd. CRISIL A % IIFL Facilities Services Ltd. CRISIL A % Total 23.06% Manappuram Finance Ltd. CRISIL AA- 6.48% JSW Steel Ltd. CARE AA- 6.06% Dewan Housing Finance BWR AAA 5.74% Piramal Enterprises Ltd. [ICRA]AA 5.11% Indiabulls Housing Finance Ltd. Small Development Bank of India Edelweiss Asset Reconstruction Company Ltd. Edelweiss Commodities Services Ltd. BWR AAA 4.58% CRISIL AAA 4.22% [ICRA]AA 3.48% CARE AA 2.55% JSW Steel Ltd. CARE AA- 2.53% Aspire Home Finance Power Grid Corporation of India Ltd. Janalakshmi Financial Services Ltd. Aspire Home Finance Power Finance India Infoline Housing Finance Ltd. CRISIL A+ 2.10% CRISIL AAA 1.17% [ICRA]A+ 1.17% [ICRA]AA- 0.94% CRISIL AAA 0.87% CRISIL AA 0.60% India Infoline Finance Ltd. [ICRA]AA 0.49% Vedanta Ltd. CRISIL AA- 0.23% Rural Electrification CRISIL AAA 0.23% Rural Electrification Power Grid Corporation of India Ltd. CRISIL AAA 0.14% CRISIL AAA 0.12% Total 48.81% Unlisted ARM Infra & Utilities Private Ltd. BWR A1+(SO) 5.50% Tanglin Developments Ltd. BWR A+(SO) 2.30% Janalakshmi Financial Services Ltd. [ICRA]A+ 1.68% Total 9.48% Cash Management Bill % to Net CMB 49 DAY 2017 Sovereign 8.66% Total 8.66% CBLO / Reverse Repo Investments 5.60% Total 5.60% Net Receivable/Payable 2.11% Total 2.11% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Cash & Equivalent 8.66% 9.48% CRISIL AA CRISIL AA- [ICRA]AA- CRISIL A+ BWR A+(SO) CARE AA BWR A1+ BWR A1+(SO) CRISIL AAA CARE AA- Sovereign [ICRA]AA BWR AAA CRISIL A % 23.06% [ICRA]A+ [ICRA]A1 rating profile 0.60% 0.94% 2.10% 2.30% 2.55% 2.85% 5.45% 5.50% 5.54% instruments 48.81% 6.71% 6.75% 7.71% 8.59% 8.66% 9.08% 10.32% 14.35% 2.28% 2.11% Commercial Paper Unlisted Cash Management Bill CBLO / Reverse Repo Investments Certificate of Deposit Cash & Cash Equivalents ^ The Dividend Option has been renamed as Monthly Dividend Option and a Quarterly Dividend Option has been introduced effective December 23, $ The Bonus Option in the Schemes has been discontinued effective June 08,

17 Baroda Pioneer Treasury Advantage Fund An Open Ended Debt Scheme [ICRA] A1+ mfs* Investors understand that their principal will be at Moderately Low risk Regular income over short term with maintaining a balance between returns and liquidity Investment predominantly in Money Market (i.e. CP/ CDs) and Debt Market Instruments The main objective of the scheme is to provide optimal returns and liquidity through a comprising of debt securities and money market instruments Type of Scheme Date of Allotment June 24, 2009 An Open Ended Debt Scheme Fund Manager Mr. Alok Sahoo # (Experience 13 yrs), Ms. Hetal Shah # (Experience 12 yrs) Benchmark Monthly Average AUM () Month end AUM () CRISIL Liquid Fund Index Crs Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Nil Options Growth Daily Dividend 1.Reinvestment Weekly Dividend 1.Reinvestment Monthly Dividend 1.Payout 2.Reinvestment Quarterly Dividend 1.Payout 2.Reinvestment Bonus Option $ SIP (Minimum) 500/month - 12 Instalments 1500/quarter - 4 Instalments Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 0.69 Portfolio Yield (%) % Plan B (Direct) 0.41% MONEY MARKET INSTRUMENT % to Net Certificate of Deposit** ICICI Bank Ltd. [ICRA]A % Credit Suisse Ag CRISIL A % State Bank of Hyderabad CRISIL A % Total 2.20% Commercial Paper** JSW Steel Ltd. CARE A % Edelweiss Commodities Services Ltd. CRISIL A % Adani Enterprises Ltd. BWR A % Edelweiss Agri Value Chain Ltd. CRISIL A % Adani Ports and Special Economic Zone Ltd. [ICRA]A % Housing Development Finance CRISIL A % Peninsula Land Ltd. [ICRA]A1 2.19% IIFL Facilities Services Ltd. CRISIL A % Kotak Commodity Services Private Ltd. [ICRA]A % Godrej Properties Ltd. [ICRA]A % Total 36.78% India Infoline Housing Finance Ltd. [ICRA]AA 5.71% Dewan Housing Finance BWR AAA 5.27% Indiabulls Housing Finance Ltd. CARE AAA 3.77% Aspire Home Finance [ICRA]AA- 3.00% Apollo Hospitals Enterprise Ltd. CRISIL AA 2.65% Power Finance CRISIL AAA 2.30% Manappuram Finance Ltd. CRISIL AA- 1.77% Edelweiss Commodities Services Ltd. CARE AA 1.62% Janalakshmi Financial Services Ltd. [ICRA]A+ 1.33% JSW Steel Ltd. CARE AA- 1.32% Piramal Enterprises Ltd. [ICRA]AA 1.16% India Infoline Housing Finance Ltd. CRISIL AA 0.85% Aspire Home Finance Edelweiss Asset Reconstruction Company Ltd. CRISIL A+ 0.61% [ICRA]AA 0.38% Edelweiss Commodities Services Ltd. [ICRA]AA 0.34% Rural Electrification CRISIL AAA 0.32% Power Grid Corporation of India Ltd. CRISIL AAA 0.28% Steel Authority of India Ltd. IND AA 0.19% Indiabulls Housing Finance Ltd. BWR AAA 0.19% Total 33.06% Unlisted ARM Infra & Utilities Private Ltd. BWR A1+(SO) 2.83% Tanglin Developments Ltd. BWR A+(SO) 0.92% ARM Infra & Utilities Private Ltd. BWR A1+(SO) 0.63% Powergrid Vizag Transmission Ltd. CRISIL AAA (SO) 0.39% Total 4.77% Cash Management Bill CMB 49 DAY 2017 Sovereign 11.12% CMB 63 DAY 2017 Sovereign 4.25% Total 15.37% Fixed Deposit IDFC Bank Ltd. Unrated 0.22% Total 0.22% CBLO / Reverse Repo Investments 6.65% Total 6.65% Net Receivable/Payable 0.95% Total 0.95% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. IND AA Unrated CRISIL AAA (SO) CRISIL A+ BWR A+(SO) CARE AA- [ICRA]A+ CARE AA CRISIL AA- [ICRA]A1 CRISIL AAA [ICRA]AA- BWR A1+(SO) CRISIL AA CARE AAA BWR AAA BWR A1+ [ICRA]A1+ CARE A1+ [ICRA]AA Cash & Equivalent Sovereign CRISIL A % 33.06% Rating Profile 0.19% 0.22% 0.39% 0.61% 0.92% 1.32% 1.33% 1.62% 1.77% 2.19% 2.90% 3.00% 3.46% 3.50% 3.77% 5.46% 5.51% 6.48% 7.39% 7.59% 7.60% instruments 2.20% 0.22% 4.77% 0.95% 36.78% 6.65% 15.37% 17.41% Commercial Paper Cash Management Bill CBLO / Reverse Repo Investments Unlisted Certificate of Deposit Cash & Cash Equivalents Fixed Deposit V AS ON 31 JANUARY 2017 V (Per Unit) Regular Growth Dividend - Daily Dividend - Weekly Dividend - Monthly Dividend - Quarterly Bonus Growth Dividend - Daily Dividend - Weekly Dividend - Monthly Dividend - Quarterly Bonus Growth Dividend - Daily Dividend - Weekly Dividend - Monthly Dividend - Quarterly $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Treasury Advantage Fund (earlier called Institutional Plan) *For Disclaimer please refer page no 22 17