INDEX QUANTUM DYNAMIC BOND FUND - QDBF QUANTUM NIFTY ETF - Q NIFTY HOW TO READ THE FACTSHEET. September 2017

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2 INDEX CONTENTS PAGE NO QUANTUM DYNAMIC BOND FUND - QDBF QUANTUM NIFTY ETF - Q NIFTY HOW TO READ THE FACTSHEET

3 QUANTUM VIEW FOR SEPTEMBER 2017 Equity Outlook Atul Kumar- Head - Equity Funds Nilesh Shetty - Associate Fund Manager - Equity I n the month of, S&P BSE Sensex lost 1.35% on a total return basis. Despite the fall, the index has gained 18.85% in first 9 months of S&P BSE Midcap index and S&P BSE Smallcap indices performed better than S&P BSE Sensex during the month with returns of -0.57% and +0.89% respectively. Both these indices have delivered stellar returns in 9 months 2017 of 29.74% and 34.67% respectively. Market Performance at a Glance Market Returns % * January-September 2017 S&P BSE SENSEX ** S&P BSE MIDCAP ** S&P BSE SMALL CAP ** BEST PERFORMER SECTORS Healthcare, Auto and Metal LAGGARD SECTORS Telecom, FMCG and Real estate * On Total Return Basis ** Source-Bloomberg India's broad macroeconomic indicators look stable, even as it has not fully capitalized on the opportunity offered by low commodity prices and political certainty in past 3 years. Inflation at 3.4% remains manageable and interest rates are at subdued level. Fiscal deficit and current account deficit remain under control. Crude oil prices remain under USD 60 a barrel, which provides a comfort to the economy from major external shocks. Exchange rate remains stable while country sits on all time high foreign currency reserves. Monsoon has been close to normal, with 5% deficiency. Events such as demonetization and poor implementation of GST have slowed down GDP growth considerably. GST system which was a landmark reform in indirect taxation, has a number of glitches. Companies are unaware of tax amount to be paid, which should be communicated by the system. This leaves room for confusion and litigations. Smaller businesses are in greater trouble to comply with the new tax system. These events, especially demonetization, put India on a path much below its potential growth rate. Right wing fundamentalism such as cow protection is having impact on animal husbandry and agriculture sector. Among sectors, healthcare, auto and metal were among the best performers for the previous month. Telecom, FMCG and real estate were laggard sectors for the month. TRAI announcement to reduce drastically the interconnect charges by 60% and later abolish them reflected on the performance of telecom stocks. Reliance Industries stock was down 2.05% during the month. One of the major constituents of GDP is investment spending. Investment cycle has remain subdued for many years now. Excess capacity creation till 2008, leveraged balance sheet of corporates is some of the reasons behind investment cycle remaining weak. We still see no rebound in the capex cycle, especially in private sector. Investment pick up is also required to create jobs, and that in turn drives consumption leading to a FIIs were net sellers during the month of USD 1.65 billion virtuous cycle. worth of equities. So far in the current calendar year, they have While animal spirits have not been unleashed in the purchased stocks worth USD 5.5 billion. Domestic institutions economy, the same is not true for equity markets. Primary (DIIs) countered the selling of FIIs with purchase of USD 3.2 billion issuance through IPOs in the current year is reaching new highs. during the month. While mutual funds bought for USD 2.4 billion, Companies have tapped the markets to raise 17 billion USD insurers also turned positive for the first time with buying of USD equity in 2017 year so far, which is the highest since the heady 797 million. INR had a significant depreciation during the month days of 2007.Valuation demanded by many of them leave no upside for the investor. of 2.15% against US dollar. Financial markets globally have been running on steroids of excess liquidity. There may be slight correction in that situation in future. US Fed in its September meeting has taken steps to reduce its balance sheet. It plans to sell securities that it bought since 2008 financial crisis. Of the USD 4.5 trillion expanded balance sheet, it will unwind starting with USD 10 billion per month. This amount will climb gradually over time. Europe on the other hand still continues to maintain interest rates at near zero levels. Despite the improvement in economic situation, it is unlikely to change interest rates in near term. Japan, the other major developed economy, is facing some political uncertainty. Its Prime Minister has called for snap elections, looking to consolidate his majority further. Outlook We remain positive on Indian equities over long term. High GDP growth relative to rest of the world, increasing consumption and likely investment in infrastructure are key drivers for equity returns. We are cautious on equities in the near term however. Markets have been running up which is not supported by earnings growth. Most sell side brokers continue to revise their earning estimates downward. This happens despite hopes since 2014 that there will be earning recovery. Upside in Indian equities is limited in the near term. The same is reflected in high cash levels held in our schemes. We suggest that investors don't make aggressive allocation to equities at this point of time. However, they can invest moderate sums of money. Data Source: Bloomberg QUANTUM VIEW 3

4 Debt Outlook Pankaj Pathak - Senior Manager - Fixed Income T he Indian bond yields grinded higher in September. The ascent in yields was in line with the up move in global yields after US Federal Reserve started the process of trimming down its USD 4.5 trillion balance sheet. Media reports said that government may expand fiscal deficit to stimulate growth also hit the market sentiment. The 10 year benchmark bond yield rose by 14 basis points (100 bps = 1%) to end the month at 6.66% as against the close of 6.52% in previous month. The Monetary Policy Committee (MPC) of the RBI kept the policy rates unchanged at 6% with a vote of 5-1. It retained the neutral stance with the objective of keeping the CPI inflation near 4% (with +/- 2% deviation), while supporting growth. month, it would reduce the holdings of US treasury bonds and mortgage-backed securities at a pace of USD 10 billion a month which will increase to USD 50 billion a month gradually. Additionally, the Fed was slightly hawkish on rates front and indicated a possibility of a rate hike end of 2017 and three hikes in European Central Bank (ECB) may also reduce the amount of bond purchases as economic data continue to surprise on the upside. Bank of Canada and Bank of England are also moving on the path of tightening. Outlook Despite the rollback of accommodative policies in developed economies, we expect that high real rates and comfortable balance of payments position will continue to attract foreigners into Indian debt market. Going ahead the bond market will face some tough times as fiscal and inflation risk play on investors mind in the backdrop of no monetary support from Though the move was broadly in line with our expectation the RBI. However, valuations have become attractive after the but we anticipated a dovish tone from RBI reflecting on slower recent sell off. economic momentum. The RBI did not pay much heed and Any increase in fiscal deficit remains the most critical risk to seemed optimistic about the growth recovery. It did, though, cut its GVA estimates down to 6.7% from 7.3% for FY 18. It also raised sentiment towards bonds and will be the key metric to track. A the CPI projection for H2FY18 marginally to 4.2%-4.6% and large increase (more than 0.5%/GDP) will be seen very negatively highlighted upside risk to inflation from farm loan waivers and by the bond market and can lead to a further sell off in bonds. Anything less than that can be absorbed by the market even at fiscal slippage. current levels. Consumer Price Inflation for the August rose to 3.36% yoy In the current inflation targeting regime of 4% (+/-2% ) (vs 2.36% in July) on the back of cyclical increase in food prices Headline CPI Inflation + (1%-2%) Real Interest Rates, there is very and sharp upward revision in prices of petrol and diesel. The core inflation which excludes food and fuel also shown sharp uptick in little chance for the Repo rate to meaningfully go and sustain August primarily due to hike in house rent allowance under 7th below 6%. In view of this we maintain our medium term neutral pay commission and initial effects of GST implementation. Going stance over rates. However, we will keep looking for signs forward as the base effect dissipates and the full effect of HRA mispricing in market and will positioned to exploit the opportunity tactically. revision shows up, we expect the CPI inflation will move towards RBI's medium term target of 4% by Q3FY18 and move up further Source: Bloomberg to around 4.5% by March These projections include the direct statistical effect of HRA hike for government employees Gold Outlook which RBI has long communicated that it will look through. Chirag Mehta - Senior Fund Manager Excluding housing from the headline CPI and recalculating CPI-ex Alternative Investments housing, suggests that CPI will remain below the 4% target and World View thus offer Real Interest Rates of well more than 2%. he specter of higher rates as implied by Fed's hawkish posture accompanied by a seeming attempt to unwind Liquidity with commercial banks remained in surplus to the Fed's bloated balance sheet led to a renewed strength in tune of `. 2 trillion. We expect that liquidity surplus will come down as currency withdrawal from banks may increase during the dollar and declining gold prices. Odds of a Fed rate hike by the festive months of October-December. However, the liquidity December rose to about 70 percent, up from less than 30 percent situation may still remain in surplus mode and RBI needs to a month ago. Markets perceived a remarkable shift in political continue the OMO(Open Markets Operations) sales to bring it to focus in Washington from the hapless health- care overhaul to more growth-friendly issues like tax cuts and reforms aggravated neutrality. pressure on gold prices. The backdrop of rising geopolitical Developed market central banks remain on track of policy tension didn't prove enough to stall the decline in gold prices. normalization as economic data continued to be supportive. US Gold prices ended the month below the psychological $1300 an Federal Reserve initiated the program to normalize its balance ounce mark at $1280, a decline of 3.1% for the month. sheet which swelled to USD 4.5 trillion following Quantitative A risk-on environment as well as a high probability that the Easing (QE) programs post 2008 financial crisis. Beginning this T 4 QUANTUM VIEW

5 Federal Reserve will implement one last interest rate hike for this year have weighed heavily on the price of gold. The signal that an interest-rate hike in December was probable was less impactful than the overall tone which suggested that the Fed would raise three additional times in Fed's hawkishness is largely relating to the urgency related to normalize monetary policy as opposed to the presence of an ideal economic backdrop. Yellen said that it would be imprudent to leave rates on hold until inflation reaches 2 percent this year. She also admitted that the Fed may have misjudged the recovery but insisted that rate hikes were coming and that gradually raising interest rates is the most appropriate policy approach amid higher uncertainty about inflation. Federal Reserve also announced the initiation of their process to liquidate the massive $4.5 trillion balance sheet starting October, with the initial liquidation of $10 billion. The great unwinding contains uncertainty. Never in the history of the Federal Reserve have they acquired such a massive balance sheet, nor have they moved towards a process of liquidating that balance sheet. In as much as the tension between North Korea and the United States has escalated to a new level, it is still for the most part based upon threats and rhetoric from both sides. Yellen's hawkish comments overshadowed the earlier heated North Korean war of words. Outlook As the Fed prepares to shrink its $4.5 trillion balance sheet from October, the bank could also lower its prediction for the pace of further rate hikes as price increases stay muted. The fact that the Fed members lowered their forecast for their own future Fed funds rate indicates that the Fed may again kind of undershoot what they're predicting they're going to do for rates. Gold could quickly recover from its recent slide as the Federal Reserve may raise interest rates less than forecast because of low inflation and also there lies high probability for U.S. tax reforms to disappoint, while global political risks abound. Tax cuts and infrastructure spending do help boost the economy. However, this requires huge funding and the more relevant question becomes where is the money coming from? It's premised on hope. Let's spend now and the resulting growth will pay the bill later. The deficit will balloon, and if the Fed raises rates, it will create higher borrowing costs to service the growing deficit and in no time the dollar will come under pressure. In conclusion, U.S. fiscal policy represents the biggest upside risk for gold and all the more when other central banks are looking to join the monetary policy tightening bandwagon. Given the current macroeconomic scenario, we expect downsides in gold to be capped and prices to move up gradually albeit with increased volatility. We reiterate that the real positive trigger for gold would be when market expects Fed to be unable to normalize monetary policy and see it reverse its course at first signs of crisis. The world is in 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 macro backdrop, gold will be a useful portfolio diversification tool and thereby helping you to reduce overall portfolio risk. Source:Bloomberg The intent may be there but it will remain data dependent and there is no certainty that U.S. economic growth can sustain that level of tightening. Unexpected decline in August retail sales raised concern over the economy's strength. The August decline in sales and downward revisions to the prior months make it more likely that consumption, the biggest part of the economy, will be hard-pressed to match the 3.3 percent growth pace of the prior quarter. Fed's Beige Book report also revealed that the majority of districts reported limited wage pressures and modest to moderate wage growth. Federal Reserve Governor Lael Brainard's comments also reflected a similar sentiment who said the U.S. central bank needs to pay careful attention to underlying inflation before raising rates again, as longer-run price pressure trends appear to be lower. 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. QUANTUM VIEW 5

6 QUANTUM LONG TERM EQUITY FUND An Open ended Equity Features Nature of Investment Objective An Open-ended Open-ended Equity Equity The investment objective of the is to achieve long-term capital appreciation by investing in shares companies that will The investment objective primarily of the is toofachieve long-term capital typically be included in the primarily S&P BSE 200 Index and are in a position to appreciation by investing in shares of companies that will typicallyfrom be included in the S&P BSE and 200 development Index and areofinthe a position benefit the anticipated growth Indian to benefit from anticipated growth and development of the Indian economy and the its markets. economy and its markets. Benchmark Index S&P BSE 30 Total Return Index Ÿ Long term capital appreciation. S&P BSE 30 Total Return Index Mr. Investments Atul Kumar (insince November 15,related 2006) securities of companies in Ÿ equity and equity Fund Manager Fund Manager s Total Experience Mr. Atul Kumar ~ ( Since November 15, 2006) S&P BSE 200 index yrs. yrs. Ÿ High Risk (BROWN) Mr. Mr. Nilesh NileshShetty Shetty(Since (SinceMarch March28, 28,2011) 2011) Associate Fund Manager yrs. yrs. Total Experience Inception Date (Date of Allotment) March 13, Mar % - (1.09% Management Fees % GST (18% GST on 1.09% Management Fees) 1.46% - (1.24% Management Fees % GST (18% GST on 1.24% Management Fees) Current Expense Ratio Direct Plan Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan Total Expense Ratio (Weighted Average for the Month) Regular Plan Investment Options 1.29% (Inclusive of Statutory Levies and Taxes) Minimum Application Amount (Under each Option) Purchase : ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase : ` 500/- and in multiples of ` 1/- thereafter/ Rs. 50 units. Every Business Day Every Business Day 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. Declaration of Net Asset Value (NAV) Redemption Proceeds Growth & Dividend (Dividend Option will in turn have two Facilities, Dividend Payout Facility and Dividend Re-investment Facility) Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. 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 Tax on Long Term Capital Gains - Nil Tax on Short Term Capital Gains - 15% Entry/ Sales Load Exit Load # Taxation Product Labeling Name of the 1.46% (Inclusive of Statutory Levies and Taxes) This product is suitable for investors who are seeking* Riskometer Moderate Mo d Hi era gh te LOW High Low ly Quantum Long Term Long term capital appreciation Equity Fund Invests Primarily in equity and equity related (An Open-ended Equity securities of companies in S&P BSE 200 index ) 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. #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. 6 QUANTUM LONG TERM EQUITY FUND Septembert 2017

7 Quantum Long Term Equity Fund Performance as on September 29, 2017 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.32 Mr. Atul Kumar is the Fund Manager effective from November 15,2006 Mr. Nilesh Shetty is the Associate Fund Manager effective from March 28,2011. Performance of the Current Value ` 10,000 Invested at the beginning of a giving period S&P BSE 30 TRI S&P BSE Sensex Returns (%) Returns (%) Returns (%) Returns (`) Quantum Long Term Equity Fund - Direct Plan - Growth Option S&P BSE 30 TRI S&P BSE Sensex Returns (`) Returns (`) September 30, 2016 to September 29, 2017 (1 year) ,270 11,374 11,227 September 30, 2014 to September 29, 2017 (3 years) ,856 12,249 11,747 September 28, 2012 to September 29, 2017 (5 years) ,997 17,942 16,673 September 30, 2010 to September 29, 2017 (7 years) ,641 17,310 15,588 September 28, 2007 to September 29, 2017 (10 years) ,350 20,899 18, ,770 34,262 Since Inception (13th March 2006) Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. 28,956 SIP Performance of Quantum Long Term Equity Fund as on September 29, 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) 1, , Mkt Value as on September 29, 2017 (` 000) 3, , , Returns (XIRR*) (%) Benchmark (XIRR*) (%) S&P BSE 30 TRI Additional Benchmark (XIRR*) (%) S&P BSE Sensex ^^Standard Deviation: 12.68% Beta: 0.87 Sharpe Ratio: 0.45 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. Brokerages & Commissions Details Brokerages on Investments for Distributor Commissions paid during NAV (as on September 29, 2017) ` 2,66, ` 13, AUM (as on September 30, 2017) Direct Plan (`/Unit) Regular Plan (`/Unit) Dividend Option Average AUM* Growth Option Absolute AUM `(In Crores) *Cumulative Daily AuM /No of days in the month QUANTUM LONG TERM EQUITY FUND 7

8 Portfolio as on September 30, 2017 Industry / Rating Name of Instrument Quantity Market % to Net Value In Assets Lakhs EQUITY & EQUITY RELATED A) Listed /Awaiting listing on the Stock Exchanges 1. Bajaj Auto Limited Auto 2. Hero MotoCorp Limited Auto 3. Housing Development Finance Corporation Limited Finance 4. Infosys Limited Software 5. Tata Consultancy Services Limited Software 6. NTPC Limited Power 7. ICICI Bank Limited Banks 8. State Bank of India Banks 9. Exide Industries Limited Auto Ancillaries 10. GAIL (India) Limited Gas 11. PTC India Limited Power 12. Tata Motors Limited Auto 13. Cipla Limited Pharmaceuticals 14. Power Grid Corporation of India Limited Power 15. Oil & Natural Gas Corporation Limited Oil 16. The Indian Hotels Company Limited Hotels, Resorts And Other Recreational Activities 17. Wipro Limited Software 18. Lupin Limited Pharmaceuticals 19. Tata Steel Limited Ferrous Metals 20. Tata Chemicals Limited Chemicals 21. Larsen & Toubro Limited Construction Project 22. Bharti Airtel Limited Telecom - Services B) Unlisted Total of all Equity MONEY MARKET INSTRUMENTS A) Treasury Bills (T-Bill) Days Tbill (MD 21/06/2018) Sovereign Total of T-Bill B) Collateralised Borrowing & Lending Obligation (CBLO)* Total of Money Market Instruments Net Receivable/(payable) Grand Total 1,93,758 1,41,185 2,55,519 4,72,033 1,66,392 19,20,869 11,10,131 11,26,266 13,41,638 6,57,874 22,13,468 6,74,825 4,44,393 11,93,978 14,72,457 21,49,999 8,56,283 1,78,911 2,48,106 2,02,325 86,632 1,86,693 6, , , , , , , , , , , , , , , , , , , , , , , , , * Cash & Cash Equivalents Portfolio Turnover Ratio (Last one year): 19.82% Industry Allocation (% of Net Assets) as on September 30, 2017 Auto 17.48% Software 13. Power 10.51% Banks 7.37% Finance 5.53% Pharmaceuticals 5.49% Auto Ancillaries 3.43% Gas 3.43% Oil 3.13% Hotels, Resorts And Other Recreational Activities 3.11% Ferrous Metals 2.01% Chemicals 1.62% Construction Project 1.23% Telecom - Services 0.90% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% ^^ Note: Risk Free Rate assumed to be 6.05% (FBIL Overnight MIBOR for 30th ) 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. Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. 8 QUANTUM LONG TERM EQUITY FUND

9 QUANTUM TAX SAVING FUND An open ended Equity Linked Saving with a lock-in period of three years Features Benchmark Index Fund Manager Fund Manager s Total Experience An Open-ended Equity Linked Savings with a lock-in period of 3 years 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 S&P BSE 200 Index and are in a position to benefit from the anticipated growth and development of the Indian economy and its markets. S&P BSE 30 Total Return Index Mr. Atul Kumar ( Since December 23, 2008) 16 yrs. Associate Fund Manager Total Experience Mr. Sorbh Gupta ( Since October 1, 2016) 11 yrs. Inception Date (Date of Allotment) December 23, 2008 Current Expense Ratio Direct Plan 1.29% - (1.09% Management Fees % GST (18% GST on 1.09% Management Fees) 1.46% - (1.24% Management Fees % GST (18% GST on 1.24% Management Fees) Nature of Investment Objective Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan 1.28% (Inclusive of Statutory Levies and Taxes) Total Expense Ratio (Weighted Average for the Month) Regular Plan 1.46% (Inclusive of Statutory Levies and Taxes) Investment Options Growth & Dividend Minimum Application Amount (Under each Option) Purchase: ` 500/- and in multiples of ` 500/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 500/- thereafter. Lock-in 3 years from the date of allotment of the respective Units Declaration of Net Asset Value (NAV) Redemption Proceeds Redemption Proceeds Every Business Day 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. Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Nil Entry/ Sales Load Exit Load # Taxation Tax on Long Term Capital Gains - Nil Tax on Short Term Capital Gains - 15% Product Labeling Name of the This product is suitable for investors who are seeking* Riskometer Quantum Tax Saving Fund Long term capital appreciation (An Open-ended Equity Invests Primarily in equity and equity related securities of companies in S&P BSE 200 index and to Linked Savings ) save tax u/s 80 C of the Income Tax Act. Investments in this product are subject to lock in period of 3 years. Moderate Mo d Hi era gh te High Low ly 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. #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. QUANTUM TAX SAVING FUND 9

10 Quantum Tax Saving Fund Performance as on September 29, 2017 The is Co-Managed by Mr. Atul Kumar and Mr. Sorbh Gupta. For other s Managed by Mr. Atul Kumar and Mr. Sorbh Gupta please see page no. 32 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 Returns (%) S&P BSE 30 TRI S&P BSE Sensex Returns (%) Returns (%) Current Value ` 10,000 Invested at the beginning of a giving period Returns (`) Quantum Tax Saving Fund - Direct Plan - Growth Option S&P BSE 30 TRI S&P BSE Sensex Returns (`) Returns (`) September 30, 2016 to September 29, 2017 (1 year) ,287 11,374 11,227 September 30, 2014 to September 29, 2017 (3 years) ,815 12,249 11,747 September 28, 2012 to September 29, 2017 (5 years) ,013 17,942 16,673 September 30, 2010 to September 29, 2017 (7 years) ,428 17,310 15,588 Since Inception (23rd Dec 2008) ,260 36,754 32,295 Past performance may or may not be sustained in the future. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. SIP Performance of Quantum Tax Saving Fund as on September 29, Direct Plan - Growth Option Since Inception SIP 7 Years SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (` 000) 1, Mkt Value as on September 29, 2017 (` 000) 2, , Returns (XIRR*) (%) Benchmark (XIRR*) (%) S&P BSE 30 TRI Additional Benchmark (XIRR*) (%) S&P BSE Sensex ^^Standard Deviation: 12.95% Beta: 0.90 Sharpe Ratio: 0.43 Past performance may or may not be sustained in the future. performance has been calculated using applicable NAV on the SIP day (5th of every month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly subscriptions as on 5th day of every month (in case 5th is a non-business Day, then the next Business Day) and have been worked out using the Excel spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming ` 10,000 invested every month on 5th day of every month (in case 5th is a non-business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years, and since inception returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. Brokerages & Commissions Details. ` 32, ` Brokerages on Investments for Distributor Commissions paid during NAV (` in crores) (as on September 29, 2017) Direct Plan (`/Unit) Regular Plan (`/Unit) AUM (as on September 30, 2017) `(In Crores) Dividend Option Average AUM* Growth Option Absolute AUM *Cumulative Daily AuM /No of days in the month 10 QUANTUM TAX SAVING FUND

11 Portfolio as on September 30, 2017 Industry Name of Instrument Quantity Market % to Net Value In Assets Lakhs EQUITY & EQUITY RELATED A) Listed /Awaiting listing on the Stock Exchanges 1. Bajaj Auto Limited Auto 2. Hero MotoCorp Limited Auto 3. Housing Development Finance Corporation Limited Finance 4. Infosys Limited Software 5. Tata Consultancy Services Limited Software 6. NTPC Limited Power 7. ICICI Bank Limited Banks 8. Tata Motors Limited Auto 9. State Bank of India Banks 10. Exide Industries Limited Auto Ancillaries 11. Cipla Limited Pharmaceuticals 12. Oil & Natural Gas Corporation Limited Oil 13. PTC India Limited Power 14. GAIL (India) Limited Gas 15. The Indian Hotels Company Limited Hotels, Resorts And Other Recreational Activities 16. Power Grid Corporation of India Limited Power 17. Wipro Limited Software 18. Lupin Limited Pharmaceuticals 19. Tata Steel Limited Ferrous Metals 20. Larsen & Toubro Limited Construction Project 21. Tata Chemicals Limited Chemicals 22. Bharti Airtel Limited Telecom - Services B) Unlisted Total of all Equity MONEY MARKET INSTRUMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total 15,560 11,395 24,527 39,249 13,780 1,64,298 97,504 61,526 96,079 1,16,963 40,620 1,34,089 1,83,655 52,924 1,86,386 96,423 71,038 16,193 19,950 11,383 16,030 13, , , * Cash & Cash Equivalents Portfolio Turnover Ratio (Last one year): 18.28% Industry Allocation (% of Net Assets) as on September Auto 18.05% Software 13.81% Power 10.95% Banks 7.98% Finance 6.65% Pharmaceuticals 6.25% Auto Ancillaries 3.75% Oil 3.56% Gas 3.45% Hotels, Resorts And Other Recreational Activities 3.37% Construction Project 2.02% Ferrous Metals 2.02% Chemicals 1.60% Telecom - Services 0.85% 0% 5% 10% 15% 20% ^^ Note: Risk Free Rate assumed to be 6.05% (FBIL Overnight MIBOR for 30th ) 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. Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. QUANTUM TAX SAVING FUND 11

12 QUANTUM EQUITY FUND OF FUNDS An Open ended Equity Fund of Funds Features Nature of Investment Objective An Open-ended Equity Fund of Funds 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. Benchmark Index Fund Manager S&P BSE 200 Index Mr. Chirag Mehta (Since November 1, 2013) Fund Manager s Total Experience Inception Date (Date of Allotment) 13 yrs. July 20, % - (0.43% Management Fees % GST (18% GST on 0.43% Management Fees) 0.63% - (0.53% Management Fees % GST (18% GST on 0.53% Management Fees) Current Expense Ratio Direct Plan Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan 0.51% (Inclusive of Statutory Levies and Taxes) Total Expense Ratio (Weighted Average for the Month) Regular Plan Investment Options 0.62% (Inclusive of Statutory Levies and Taxes) Growth & Dividend (Dividend Option will in turn have two Facilities, Dividend Payout Facility and Dividend Re-investment Facility) Purchase: ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 1/- thereafter/ 50 units Minimum Application Amount ( Under each Option) Minimum Application Amount (Under each Option) Declaration of Net Asset Value (NAV) Every Business Day Redemption Proceeds Declaration of Net Asset Value (NAV) 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. Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Entry/ Sales Load Repurchase/ Redemption/ Switch Out On or before 365 days from the date of allotment 1.5 %. Quantum Information Services Private Limited (QIS) which owns the website 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. Exit Load Research Services Product Labeling Name of the This product is suitable for investors who are seeking* Riskometer Moderate Mo d Hi era gh te High Low ly Quantum Equity Fund Long term capital appreciation of Funds Investments in portfolio of open-ended diversified (An Open-ended Equity equity schemes of mutual funds registered with SEBI Fund of Funds ) whose underlying investments are in equity and equity related securities of diversified companies HIGH LOW 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 Long Term Short Term 20% with Indexation Maximum FII s / Overseas Financial Organisations 10% without Indexation Partnership Firm 20% with Indexation Non Resident Indians 10% without Indexation (on transfer of long term capital assets being unlisted securities) Maximum Indian Companies 20% with Indexation Foreign Companies 10% without Indexation (on transfer of long term capital assets being unlisted securities) 40% #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. 12 QUANTUM EQUITY FUND OF FUNDS

13 Quantum Equity Fund of Funds Performance as on September 29, 2017 For other s Managed by Mr. Chirag Mehta please see page no.32, 33 Mr. Chirag Mehta is the Fund Manager effective from November 01,2013. Performance of the Returns (%) S&P BSE 200 Index Returns (%) S&P BSE Sensex Returns (%) Current Value ` 10,000 Invested at the beginning of a giving period Returns (`) Quantum Equity Fund of Funds - Direct Plan - Growth Option S&P BSE 200 Index Returns (`) S&P BSE Sensex Returns (`) September 30, 2016 to September 29, 2017 (1 year) ,640 11,509 11,227 September 30, 2014 to September 29, 2017 (3 years) ,646 13,164 11,747 September 28, 2012 to September 29, 2017 (5 years) ,607 18,551 16,673 September 30, 2010 to September 29, 2017 (7 years) ,638 16,917 15,588 Since Inception (20th July 2009) ,522 23,158 20,594 Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. SIP Performance of Quantum Equity Fund of Funds as on September 29, Direct Plan - Growth Option Since Inception SIP Total Amount Invested (` 000) 7 Years SIP 5 Years SIP 3 Years SIP 1 Year SIP , , Returns (XIRR*) (%) Benchmark (XIRR*) (%) S&P BSE 30 TRI Mkt Value as on September 29, 2017 (` 000) Additional Benchmark (XIRR*) (%) S&P BSE Sensex ^^Standard Deviation: 13.12% Beta: 0.97 Sharpe Ratio: 0.58 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. Brokerages & Commissions Details. Brokerages on Investments for Distributor Commissions paid during NAV (as on September 29, 2017) ` AUM (as on September 30, 2017) Direct Plan (`/Unit) Regular Plan (`/Unit) Dividend Option Average AUM* Growth Option Absolute AUM ` (In Crores) *Cumulative Daily AuM /No of days in the month QUANTUM EQUITY FUND OF FUNDS 13

14 Portfolio as on September 30, 2017 Quantity Name of Instrument MUTUAL FUND UNITS 1. HDFC Mid Cap Opportunities Fund -Direct Plan - Growth Option 2. Mirae Asset India Opportunities Fund - Direct Plan - Growth 3. Adiyta Birla Sun Life Frontline Equity Fund - Growth - Direct Plan 4. SBI Magnum Multiplier Fund -Direct Plan -Growth 5. ICICI Prudential Focused Bluechip Equity Fund - Direct Plan - Growth 6. Franklin India Prima Plus - Direct - Growth 7. Franklin India High Growth Companies Fund - Direct - Growth Total of Mutual Fund Units MONEY MARKET INSTRUMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total 3,98,956 4,65,328 93,205 99,924 5,06,873 34,477 5,10,683 Market Value In Lakhs % to Net Assets , , * Cash & Cash Equivalents ^^ Note: Risk Free Rate assumed to be 6.05% (FBIL Overnight MIBOR for 30th ) 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. 14 QUANTUM EQUITY FUND OF FUNDS

15 QUANTUM DYNAMIC BOND FUND An Open-ended Debt with Defined Credit Exposure and Dynamic Maturity Profile Features An Open-ended Debt with Defined Credit Exposure and Dynamic Maturity Profile Nature of Investment Objective Benchmark Index Fund Manager To generate income and capital appreciation through active management of portfolio consisting of short term, long term debt and money market instruments. CRISIL Composite Bond Fund Index Mr. Pankaj Pathak (Since March 01, 2017) Fund Manager s Total Experience 8 yrs. Inception Date (Date of Allotment) May 19, 2015 Current Expense Ratio Direct Plan 0.67% - (0.57% Management Fees % GST (18% GST on 0.57% Management Fees) 0.79% - (0.67% Management Fees % GST (18% GST on 0.67% Management Fees) Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan Total Expense Ratio (Weighted Average for the Month) Regular Plan 0.60% (Inclusive of Statutory Levies and Taxes) 0.70% (Inclusive of Statutory Levies and Taxes) Investment Options Growth Option, Monthly Dividend Payout Option and Monthly Dividend Reinvestment Option 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 Declaration of Net Asset Value (NAV) Every Business Day 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. Entry/ Sales Load Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load Nil Product Labeling This product is suitable for investors who are seeking* Regular income over short to medium term and capital appreciation Riskometer Moderate Mo d Hi era gh te ly Low Investment in Debt / Money Market Instruments / Government Securities. High Name of the Quantum Dynamic Bond Fund (An Open-ended Debt with Defined Credit Exposure and Dynamic Maturity Profile) HIGH LOW Investors understand that their principal will be at Moderate 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 Long Term Short Term 20% with Indexation Maximum FII s / Overseas Financial Organisations 10% without Indexation Partnership Firm 20% with Indexation Non Resident Indians 10% without Indexation (on transfer of long term capital assets being unlisted securities) Maximum Indian Companies 20% with Indexation Foreign Companies 10% without Indexation (on transfer of long term capital assets being unlisted securities) 40% #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. QUANTUM DYNAMIC BOND FUND 15

16 Quantum Dynamic Bond Fund Performance as on September 29, 2017 For other s Managed by Mr. Pankaj Pathak please see page no.34 Mr. Pankaj Pathak is the Fund Manager effective from March 01,2017. Performance of the Returns (%) CRISIL Composite CRISIL 10 Year Bond Fund Index Gilt Index Returns (%) Returns (%) Current Value ` 10,000 Invested at the beginning of a giving period Returns (`) Quantum Dynamic Bond Fund - Direct Plan - Growth Option CRISIL Composite CRISIL 10 Year Bond Fund Index Gilt Index Returns (`) Returns (`) September 30, 2016 to September 29, 2017 (1 year) ,036 10,792 10,681 Since Inception (19th May 2015) ,956 12,506 12,323 Past performance may or may not be sustained in the future. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. The scheme has been in existence for more than 1 year but has not yet completed 3 years period from inception. Weighted Average Maturity as on September 30, 2017 (In Yrs.) At the end of the month Modified Duration 7.33 Portfolio Yield 6.95% Dividend History - Monthly Dividend option Brokerages & Commissions Details. Brokerages on Investments for ` 4, Distributor Commissions paid during ` 2, Regular Plan Direct Plan Net Dividend per unit(`) (Post Dividend Distribution Tax) Individual Non Individual Record Date Net Dividend per unit(`) (Post Dividend Distribution Tax) Individual Non Individual 25-Jul Aug Sep NAV (as on September 29, 2017) Direct Plan (`/Unit) Regular Plan (`/Unit) Growth Option Monthly Dividend Option AUM (as on September 30, 2017) `(In Crores) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month 16 QUANTUM DYNAMIC BOND FUND

17 Portfolio as on September 30, 2017 Rating Name of Instrument DEBT INSTRUMENTS A) Listed /Awaiting listing on Stock Exchanges I) Government Securities % GOI (MD 17/09/2031) % GOI (MD 19/12/2034) % GOI (M/D 21/09/2027) % GOI (MD 05/12/2030) % GOI (MD 25/05/2025) Total of Government Securities II) Corporate Bonds RECL Ltd NCD (MD 21/10/2021) B) Privately Placed/Unlisted C) Securitized Debt Instruments Total of Debt Instruments MONEY MARKET INSTRUMENTS A) Treasury Bills (T-Bill) Days Tbill (MD 21/12/2017) Total of T-Bills B) Collateralised Borrowing & Lending Obligation (CBLO)* Total of Money Market Instruments Net Receivable / (Payables) Grand Total Market Value In Lakhs % to Net Assets Sovereign Sovereign Sovereign Sovereign Sovereign 2, , , , , ICRA AAA , Sovereign , , (410.30) 9, * Cash & Cash Equivalents Asset Allocation (% of Net Assets) as on September 30, 2017 Rating Profile (% of Net Asset) as on September 30, 2017 CBLO & Net Receivable / Public Financial (Payable) 7.25% Institution 5.54% AAA 5.54% CBLO & Net Receivable / (Payable) 7.25% Sovereign 87.21% Govt. Securities & Treasury Bills, 87.21% Govt. Securities & Treasury Bills Sovereign Public Financial Institution AAA CBLO & Net Receivable / (Payable) CBLO & Net Receivable / (Payable) QUANTUM DYNAMIC BOND FUND 17

18 QUANTUM LIQUID FUND An Open ended Liquid Features Nature of 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. Benchmark Index Crisil Liquid Fund Index Fund Manager Mr. Pankaj Pathak (Since March 01, 2017) Fund Manager s Total Experience 8 yrs. Inception Date (Date of Allotment) April 7, % - (0.22% Management Fees % GST (18% GST on 0.22% Management Fees) 0.32% - (0.27% Management Fees % GST (18% GST on 0.27% Management Fees) Current Expense Ratio Direct Plan Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan Total Expense Ratio (Weighted Average for the Month) Regular Plan 0.22% (Inclusive of Statutory Levies and Taxes) 0.27% (Inclusive of Statutory Levies and Taxes) Investment Options Growth, Daily Dividend Reinvestment & Monthly Dividend Option Two facilities (i) Dividend Re- Investment Facility, (ii) Dividend Payout Facility 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) Declaration of Net Asset Value (NAV) Every Business Day 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. Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Nil Entry/ Sales Load Exit Load Product Labeling Name of the This product is suitable for investors who are seeking* Quantum Liquid Fund (An Open- ended Liquid ) Income over the short term Investments in debt / money market instruments Riskometer Moderate Mo d Hi era gh te High Low ly HIGH LOW 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 Long Term Short Term 20% with Indexation Maximum FII s / Overseas Financial Organisations 10% without Indexation Partnership Firm 20% with Indexation Non Resident Indians 10% without Indexation (on transfer of long term capital assets being unlisted securities) Maximum Indian Companies 20% with Indexation Foreign Companies 10% without Indexation (on transfer of long term capital assets being unlisted securities) 40% #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. 18 QUANTUM LIQUID FUND

19 Quantum Liquid Fund Performance as on September 30, 2017 For other s Managed by Mr. Pankaj Pathak please see page no.34 Mr. Pankaj Pathak is the Fund Manager effective from March 01,2017. Performance of the Benchmark Crisil LiquidAdditional Crisil 1 year Returns (%) ReturnsReturns (%) T-bill Index Fund (%) #Index Benchmark Returns (%) Reutrns (%)Returns (%) ## Current Value ` 10,000 Invested at the beginning of a giving period (`) Crisil Liquid Returns (`) Fund Index Reutrns (`) Quantum QuantumLiquid Tax Saving Fund Fund - Direct Plan - Growth Option September 23, 2017 to September 30, 2017 (7 Days)* ,011 Crisil 1 year T-bill Index Returns (`) 10,013 10,013 September 15, 2017 to September 30, 2017 (15 Days)* ,024 10,026 10,025 August 31, 2017 to September 30, 2017 (1 Month)* ,047 10,052 10,050 September 30, 2016 to September 30, 2017 (1 year)** ,610 10,670 10,608 September 30, 2014 to September 30, 2017 (3 years)** ,298 12,474 12,397 September 30, 2012 to September 30, 2017 (5 years)** ,551 14,831 14,198 September 30, 2010 to September 30, 2017 (7 years)** ,229 17,365 16,176 September 30, 2007 to September 30, 2017 (10 years)** ,913 20,757 18,686 Since Inception (07th April 2006)** ,186 22,873 20,174 Past performance may or may not be sustained in the future. * Simple Annualized. ** Returns for 1 year and above period are Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. Weighted Average Maturity as on September 30, 2017 (Days) Brokerages & Commissions Details. At the end of the month Average during the month Modified Duration Brokerages on Investments for ` 4, Distributor Commissions paid during ` Portfolio Yield 5.99% Dividend History - Monthly Dividend option Regular Plan Direct Plan Record Date Net Dividend per unit(`) (Post Dividend Distribution Tax) Individual Non Individual Net Dividend per unit(`) (Post Dividend Distribution Tax) Individual Non Individual 25-Jul Aug Sep NAV (as on September 30, 2017) Direct Plan (`/Unit) Daily Dividend Option Growth Option Monthly Dividend Option Regular Plan (`/Unit) AUM (as on September 30, 2017) `(In Crores) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month QUANTUM LIQUID FUND 19

20 Portfolio as on September 30, 2017 Rating Residual Maturity (in days) Market Value In Lakhs % to Net Assets CRISIL A Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign , , , , , , , , , Name of Instrument DEBT INSTRUMENTS A) Listed /Awaiting listing on Stock Exchanges B) Privately Placed/Unlisted C) Securitized Debt Instruments Total of Debt Instruments MONEY MARKET INSTRUMENTS A) Commerical Papers (CP) 1. National Bank For Agri & Rural CP (MD 08/12/2017) Total of CPs B) Treasury Bills (T-Bill) Days Tbill (MD 09/11/2017) Days Tbill (MD 30/11/2017) Days Tbill (MD 26/10/2017) Days Tbill (MD 07/12/2017) Days Tbill (MD 21/12/2017) Days Tbill (MD 12/10/2017) Total of T-Bills C) Collateralised Borrowing & Lending Obligation (CBLO)* Total of Money Market Instruments Net Receivable / (Payables) Grand Total * Cash & Cash Equivalents Asset Allocation (% of Net Assets) as on September 30, 2017 Public Financial Institution CBLO & Net Receivable /(Payable) 7.80% 17.89% CBLO & Net Receivable / (Payable) Govt. Securities Public Financial Institution Govt. Securities 74.31% Rating Profile (% of Net Asset) as on September 30, 2017 CBLO & Net Receivable /(Payable) 17.89% CBLO & Net Receivable / (Payable) A % A1+ Sovereign Sovereign 74.31% 20 QUANTUM LIQUID FUND

21 QUANTUM GOLD SAVINGS FUND An Open ended Fund of Fund Features Nature of An Open ended Fund of Fund Investment Objective The investment objective of the is to provide capital appreciation by predominantly investing in units of Quantum Gold Fund Exchange Traded Fund (QGF). 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. Benchmark Index Fund Manager Domestic Price of Gold Mr. Chirag Mehta (Since May 19, 2011) Fund Manager s Total Experience 13 yrs. Inception Date (Date of Allotment) May 19, 2011 Current Expense Ratio Direct Plan 0.11% - (0.09% Other Expenses % GST (18% GST on 0.09% Other Expenses ) 0.22% - (0.19% Other Expenses % GST (18% GST on 0.19% Other Expenses ) Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan Total Expense Ratio (Weighted Average for the Month) Regular Plan Investment Options 0.11% (Inclusive of Statutory Levies and Taxes) 0.22% (Inclusive of Statutory Levies and Taxes) Growth 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 Declaration of Net Asset Value (NAV) Every Business Day 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. Entry/ Sales Load Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load Repurchase/ Redemption/ Switch Out On or before 365 days from the date of allotment 1.5 %. Product Labeling Name of the This product is suitable for investors who are seeking* Riskometer Moderate Mo d Hi era gh te High Low ly Quantum Gold Savings Long term returns Fund Investments in units of Quantum Gold Fund Exchange (An Open-ended Fund Traded Fund whose underlying investments are in of Funds ) physical gold. HIGH LOW 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 Long Term Short Term 20% with Indexation Maximum FII s / Overseas Financial Organisations 10% without Indexation Partnership Firm 20% with Indexation Non Resident Indians 10% without Indexation (on transfer of long term capital assets being unlisted securities) Maximum Indian Companies 20% with Indexation Foreign Companies 10% without Indexation (on transfer of long term capital assets being unlisted securities) 40% #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. QUANTUM GOLD SAVINGS FUND 21

22 Quantum Gold Savings Fund Performance as on September 29, 2017 For other s Managed by Mr. Chirag Mehta please see page no.32, 33 Mr. Chirag Mehta is the Fund Manager effective from May 19,2011. Performance of the Returns (%) Returns (%) Domestic Price of Gold Returns (%) Current Value ` 10,000 Invested at the beginning of a giving period Domestic Price of Gold Returns (%) (`) Returns (`) Quantum QuantumGold Tax Saving SavingsFund Fund - Direct Plan September 30, 2016 to September 29, 2017 (1 year) ,406 9,401 September 30, 2014 to September 29, 2017 (3 years) ,593 11,178 September 28, 2012 to September 29, 2017 (5 years) ,821 9,422 Since Inception (19th May 2011) ,388 13,565 Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. SIP Performance of Quantum Gold Savings Funds as on September 29, Direct Plan Since Inception SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (` 000) Mkt Value as on September 29, 2017 (` 000) Returns (XIRR*) (%) Benchmark (XIRR*) (%)Dommestic Price of Gold 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. Brokerages & Commissions Details. ` 5, ` Brokerages on Investments for Distributor Commissions paid during NAV (as on September 29, 2017) Direct Plan (`/Unit) Regular Plan (`/Unit) Growth Option AUM (as on September 30, 2017) ` (In Crores) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month 22 QUANTUM GOLD SAVINGS FUND

23 Portfolio as on September 30, 2017 Name of Instrument A) EXCHANGE TRADED FUND UNITS 1. Quantum Gold Fund Total of Exchange Traded Funds B) MONEY MARKET INSTRUMENTS 1. Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total Quantity Market Value In Lakhs % to Net Assets 1,05,478 1, , , * Cash & Cash Equivalents Portfolio Turnover Ratio (Last one year): 7.40% Asset Allocation (% of Net Assets) as on September 30, 2017 CBLO & Net Receivable / (Payable) 0.23% Units of Quantum Gold Fund Units of Quantum Gold Fund 99.77% CBLO & Net Receivable / (Payable) ^^ Definitions Portfolio Turnover Ratio is the percentage of a funds assets that have changed over the course of a year. QUANTUM GOLD SAVINGS FUND 23

24 QUANTUM MULTI ASSET FUND An Open-ended Fund of Funds Features An Open-ended Fund of Funds 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. Crisil Composite Bond Fund Index (40%)+S&P BSE Sensex Total return Index (40%)+Domestic price of gold (20%) Mr. Chirag Mehta (Since July 11, 2012) 13 yrs Mr. Nilesh Shetty (Since July 11, 2012) 13 yrs July 11, 2012 Nature of Investment Objective Benchmark Index Fund Manager Fund Manager s Total Experience Fund Manager Total Experience Inception Date (Date of Allotment) 0.26% - (0.22% Other Fees % GST (18% GST on 0.22% Other Expenses ) 0.38% - (0.32% Other Fees % GST (18% GST on 0.32% Other Expenses ) Current Expense Ratio Direct Plan Current Expense Ratio Regular Plan Total Expense Ratio (Weighted Average for the Month) Direct Plan Total Expense Ratio (Weighted Average for the Month) Regular Plan Investment Options Minimum Application Amount (Under each Option) 0.26% (Inclusive of Statutory Levies and Taxes) 0.38% (Inclusive of Statutory Levies and Taxes) Growth Purchase: ` 500/- and in multiples of ` 1/- thereafter. Additional Purchase: ` 500/- and in multiples of ` 1/- thereafter/ 50 units Every Business Day Declaration of Net Asset Value (NAV) 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. Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. 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 Redemption Proceeds Entry/ Sales Load Exit Load Riskometer Long term capital appreciation & Current income Investments in portfolio of schemes of Quantum Mutual Fund whose underlying investments are in quity and equity related securities of companies, debt and money market instruments and physical gold. Moderate Mo d Hi era gh te ly High Quantum Multi Asset Fund (An Open-ended Fund of Funds ) This product is suitable for investors who are seeking* Low Product Labeling Name of the HIGH LOW 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 Long Term Short Term 20% with Indexation Maximum FII s / Overseas Financial Organisations 10% without Indexation Partnership Firm 20% with Indexation Non Resident Indians 10% without Indexation (on transfer of long term capital assets being unlisted securities) Maximum Indian Companies 20% with Indexation Foreign Companies 10% without Indexation (on transfer of long term capital assets being unlisted securities) 40% #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. 24 QUANTUM MULTI ASSET FUND

25 Quantum Multi Asset Fund Performance as on September 29, 2017 The is Co-Managed by Chirag Mehta and Nilesh Shetty. For other s Managed by Chirag Mehta and Nilesh Shetty. please see page no.32, 33 Mr. Chirag Mehta & Mr. Nilesh Shetty are Fund Managers effective from July 11, 2012 Performance of the Benchmark Returns (%) Returns (%) (%) # Returns Benchmark Additional Returns Benchmark (%) # Returns (%) ## Current Value ` 10,000 Invested at the beginning of a giving period (`) Returns (`) Quantum QuantumMulti Tax Saving Asset Fund - Direct Plan S&P BSE S&P BSE- Benchmark 30 Sensex TRI (RS.)Returns # (`) # (RS.) ## September 30, 2016 to September 29, 2017 (1 year) ,814 10,856 September 30, 2014 to September 29, 2017 (3 years) ,762 12,574 September 28, 2012 to September 29, 2017 (5 years) ,878 15, ,680 16,159 Since Inception (11th July 2012) 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%) + S&P BSE Total Return Index (40%) + Domestic price of Gold (20%) Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Different Plans shall have different expense structure. SIP Performance of Quantum Multi Asset Fund as on September 29, Direct Plan Since Inception SIP 5 Years SIP 3 Years SIP 1 Year SIP Total Amount Invested (` 000) Mkt Value as on September 29, 2017 (` 000) Returns (XIRR*) (%) Benchmark (XIRR*) (%) # ^^Standard Deviation: 4.84% Beta: 0.74 Sharpe Ratio: 0.46 Past performance may or may not be sustained in the future. # Crisil Composite Bond Fund Index (40%)+ S&P BSE Sensex Total return Index (40%)+ Domestic price of gold (20%) 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. Brokerages & Commissions Details. Brokerages on Investments for Distributor commissions paid during NAV (as on September 29, 2017) Direct Plan (`/Unit) Growth Option ` 1, ` 7.93 AUM (as on September 30, 2017) Regular Plan (`/Unit) `(In Crores) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month QUANTUM MULTI ASSET FUND 25

26 Portfolio as on September 30, 2017 Name of Instrument Quantity Market Value In Lakhs % to Net Assets 19,41,907 6,81,415 11,35, ,456 8, , , A) MUTUAL FUND UNITS 1. Quantum Liquid Fund - Direct Plan Growth Option 2. Quantum Long Term Equity Fund - Direct Plan Growth Option 3. Quantum Dynamic Bond Fund - Direct Plan Growth Option Total of Mutual Fund Units B) EXCHANGE TRADED FUND UNITS 1. Quantum Gold Fund (an ETF) 2. Quantum Nifty ETF Total of Exchange Traded Fund Units Total (A+B) MONEY MARKET INSTRUMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total * Cash & Cash Equivalents ^^ Note: Risk Free Rate assumed to be 6.05% (FBIL Overnight MIBOR for 30th ) 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. 26 QUANTUM MULTI ASSET FUND

27 QUANTUM GOLD FUND An Open ended Exchange Traded Fund - Gold Features Nature of An Open ended Exchange Traded Fund - 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. Benchmark Index Fund Manager Domestic Price of Physical Gold Mr. Chirag Mehta (Since May 01, 2009) Fund Manager s Total Experience 13 yrs Inception Date (Date of Allotment) February 22, 2008 Current Expense Ratio 1.03% - (0.87% Management Fees % GST (18% GST on 0.87% Management Fees) Total Expense Ratio (Weighted Average for the Month) 1.02% (Inclusive of Statutory Levies and Taxes) Investment Options Growth 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. Every Business Day Minimum Application Amount (Under each Option) Declaration of Net Asset Value (NAV) 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. Entry/ Sales Load Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load (retail investor can exit the scheme only through secondary market) Product Labeling Name of the This product is suitable for investors who are seeking* Quantum Gold Fund (An Open-ended Exchange Traded Fund- Gold) Long term returns Investments in physical gold. Riskometer Moderate Mo d Hi era gh te High Low ly HIGH LOW 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 Long Term Short Term 20% with Indexation Maximum FII s / Overseas Financial Organisations 10% without Indexation Partnership Firm 20% with Indexation Non Resident Indians Indian Companies 20% with Indexation (on transfer of long term capital assets being listed securities) 20% with Indexation Maximum Foreign Companies 20% with Indexation (on transfer of long term capital assets being listed securities) 40% #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. QUANTUM GOLD FUND 27

28 Quantum Gold Fund Performance as on September 29, 2017 For other s Managed by Mr Chirag Mehta please see page no.32, 33 Mr. Chirag Mehta is the Fund Manager effective from May 01,2009. Performance of the Benchmark (%) (%) # Returns (%) Returns Returns Domestic Additional price of Gold Benchmark Returns (%)(%) ## Returns Current Value ` 10,000 Invested at the beginning of a giving period (`) Returns (`) Quantum QuantumGold Tax Saving Fund Fund September 30, 2016 to September 29, 2017 (1 year) September 30, 2014 to September 29, 2017 (3 years) September 28, 2012 to September 29, 2017 (5 years) September 30, 2010 to September 29, 2017 (7 years) Since Inception (22nd Feb 2008) S&P BSE- 30Domestic TRI (RS.) #price of Gold Returns (`) ,306 9, ,830 11, ,951 9, ,338 15, ,597 24,163 Past performance may or may not be sustained in the future. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). ^^Tracking Error :0.099% The being Exchange Traded Fund has one plan to invest through stock exchange and having a single expense structure. Portfolio as on September 30, 2017 Name of Instrument Quantity Market Value In Lakhs % to Net Asset , , , GOLD 1. 1 KG Bar (995 fineness) Gms Bar (999 fineness) Total of Gold MONEY MARKET INSTRUMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total * Cash & Cash Equivalents Brokerages & Commissions Details Brokerages on Investments for Distributor Commissions paid during NAV (as on September 29, 2017) Growth Option AUM (as of September 30, 2017) ` (In Crores) Average AUM* Absolute AUM *Cumulative Daily AuM /No of days in the month (`/Unit) Portfolio Turnover Ratio (Last one year): 1.51% Asset Allocation (% of Net Assets) as on September 30, 2017 CBLO Net Receivables / (Payable) -0.26% 0.13% 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. GOLD CBLO Net Receivables / (Payable) 28 QUANTUM GOLD FUND GOLD %

29 QUANTUM NIFTY ETF An Open ended Exchange Traded Fund Features Nature of An Open-ended Exchange Traded Fund 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. Benchmark Index Fund Manager Nifty 50 TRI Index Mr. Hitendra Parekh (Since July 10,2008) Fund Manager s Total Experience 22 yrs. July 10, % - (0.22% Management Fees % GST (18% GST on 0.22% Management Fees) Inception Date (Date of Allotment) Current Expense Ratio Total Expense Ratio (Weighted Average for the Month) 0.26% (Inclusive of Statutory Levies and Taxes) Investment Options Growth Minimum Application Amount (Under each Option) Declaration of Net Asset Value (NAV) Redemption Proceeds Entry/ Sales Load Exit Load Taxation# 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. Every Business Day 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. Not Applicable Upfront commission to distributors will be paid by the investor directly to the distributor, based on hisassessment of various factors including the service rendered by the distributor. (retail Investor can exit the scheme only through secondary market) Tax on Long Term Capital Gains - Nil Tax on Short Term Capital Gains - 15% Product Labeling Name of the This product is suitable for investors who are seeking* Riskometer Moderate Mo d Hi era gh te LOW High Low ly Quantum Nifty ETF Long term capital appreciation (An Open- ended Investments in equity and equity related securities of Exchange Traded Fund) companies in Nifty 50 Index. 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. #The mentioned Tax Rates shall be increased by applicable surcharge, if any Education 2% and Secondary higher education 1% 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. QUANTUM NIFTY ETF 29

30 Quantum Nifty ETF Performance as on September 29, 2017 Mr. Hitendra Parekh is the Fund Manager effective from July 10, Performance of the Benchmark Nifty 50 Total Additional S&P BSE Sensex Returns Returns (%) (%) Returns Returns (%)Index # (%) Benchmark Returns (%) Current Value ` 10,000 Invested at the beginning of a giving period Returns (%) ## S&PSensex BSE Total S&P BSE Nifty (`) 50S&P BSE- 30 Returns (`) Returns Index Sensex TRI (RS.) (`) Returns # (`) (RS.) ## Quantum QuantumNifty Tax Saving ETF Fund September 30, 2016 to September 29, 2017 (1 year) ,480 11,512 11,227 September 30, 2014 to September 29, 2017 (3 years) ,656 12,746 11,747 September 28, 2012 to September 29, 2017 (5 years) ,042 18,237 16,673 September 30, 2010 to September 29, 2017 (7 years) ,404 17,673 15, ,347 26,277 22,464 Since Inception (10th July 2008) Past performance may or may not be sustained in the future. Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). ^^Tracking Error :0.071% The being Exchange Traded Fund has one plan to invest through stock exchange and having a single expense structure. Portfolio as on September 30, 2017 Name of Instrument Industry+ Quantity Market % to Net Value In Assets Lakhs EQUITY & EQUITY RELATED A) Listed /Awaiting listing on the Stock Exchanges 1. HDFC Bank Limited 2. Housing Development Finance Corporation Limited 3. Reliance Industries Limited 4. ITC Limited 5. Infosys Limited 6. ICICI Bank Limited 7. Larsen & Toubro Limited 8. Kotak Mahindra Bank Limited 9. Tata Consultancy Services Limited 10. Maruti Suzuki India Limited 11. State Bank of India 12. Axis Bank Limited 13. IndusInd Bank Limited 14. Hindustan Unilever Limited 15. Tata Motors Limited 16. Yes Bank Limited 17. Mahindra & Mahindra Limited 18. Vedanta Limited 19. Sun Pharmaceutical Industries Limited 20. Bharti Airtel Limited 21. Asian Paints Limited 22. NTPC Limited 23. Hero MotoCorp Limited 24. HCL Technologies Limited 25. Oil & Natural Gas Corporation Limited 26. Power Grid Corporation of India Limited 27. Tata Steel Limited 28. Bajaj Finance Limited 29. Bajaj Auto Limited 30. Indian Oil Corporation Limited 31. Eicher Motors Limited 32. UltraTech Cement Limited 33. Indiabulls Housing Finance Limited 34. Bharat Petroleum Corporation Limited 35. Wipro Limited 30 Banks Finance Petroleum Products Consumer Non Durables Software Banks Construction Project Banks Software Auto Banks Banks Banks Consumer Non Durables Auto Banks Auto Non - Ferrous Metals Pharmaceuticals Telecom - Services Consumer Non Durables Power Auto Software Oil Power Ferrous Metals Finance Auto Petroleum Products Auto Cement Finance Petroleum Products Software QUANTUM NIFTY ETF 2,356 1,842 3,832 9,850 2,309 7,413 1,424 1, ,288 1, ,168 2, ,147 1,275 1, , ,262 2, , ,

31 36. Coal India Limited Minerals/Mining 37. Hindalco Industries Limited Non - Ferrous Metals 38. Hindustan Petroleum Corporation Limited Petroleum Products 39. Cipla Limited Pharmaceuticals 40. Adani Ports and Special Economic Zone Limited Transportation 41. Tech Mahindra Limited Software 42. Zee Entertainment Enterprises Limited Media & Entertainment 43. Dr. Reddy's Laboratories Limited Pharmaceuticals 44. UPL Limited Pesticides 45. Bharti Infratel Limited Telecom - Equipment & Accessories 46. GAIL (India) Limited Gas 47. Lupin Limited Pharmaceuticals 48. Ambuja Cements Limited Cement 49. Aurobindo Pharma Limited Pharmaceuticals 50. Bosch Limited Auto Ancillaries B) Unlisted Total of all Equity MONEY MARKET INSTRUMENTS A) Collateralised Borrowing & Lending Obligation (CBLO)* Net Receivable/(payable) Grand Total 1,506 1, * Cash & Cash Equivalents Portfolio Turnover Ratio (Last one year): 31.12% Industry Allocation (% of Net Assets) as on September 30, 2017 Banks Software Auto Petroleum Products Finance Consumer Non Durables Pharmaceuticals Construction Project Power Non - Ferrous Metals Cement Telecom - Services Oil Ferrous Metals Minerals/Mining Transportation Media & Entertainment Pesticides Telecom - Equipment & Accessories Gas Auto Ancillaries 26.78% 10.99% 9.86% 9.78% 9.53% 9.42% 4.18% 3.73% 2.58% 2.48% 1.59% 1.36% 1.28% 1.16% 0.94% 0.79% 0.76% 0.75% 0.74% 0.71% 0.47% 0% Brokerages & Commissions Details. Brokerages on Investments for Distributor Commissions paid during NAV (as on September 29, 2017) Growth Option (`/Unit) % 10% 15% 20% 25% ` 3, AUM (as on September 30, 2017) ` (In Crores) Average AUM* 4.44 Absolute AUM 4.35 *Cumulative Daily AuM /No of days in the month ^^ 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. QUANTUM NIFTY ETF 31

32 SCHEME PERFORMANCE - FUND MANAGER-WISE ATUL KUMAR / ESH SHETTY QUANTUM LONG TERM EQUITY FUND Mr. Atul Kumar effective from November 15, 2006 Name of Name of Instrument Instrument Mr. Nilesh Shetty effective from March 28, 2011 Quantity % to to Net Net Quantity Market % Assets Value In Assets September 30, 2014 to September Lakhs 28, 2012 to September 30, 2016 to September 29, 2017 (1 year) September 29, 2017 (3 years) September 29, 2017 (5 years) S&P BSE 30 TRI S&P BSE 30 TRI S&P BSE 30 TRI Return % Return % Return % Quantum Long Term Equity Fund - Direct Plan - Growth Option Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. Returns 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 the Quantum Mutual Fund. ATUL KUMAR / SORBH GUPTA QUANTUM TAX SAVING FUND Name of Instrument Mr. Atul Kumar effective from December 23, 2008 Mr. Sorbh Gupta effective from October 1, 2016 Industry / Rating Industry / Rating September 30, 2016 to Market28, 2012 to September 30, 2014 to September Value29,In2017 (5 years) September 29, 2017 (1 year) September 29, 2017 (3 years) September Lakhs S&P BSE 30 TRI S&P BSE 30 TRI S&P BSE 30 TRI Return % Return % Return % Quantum Tax Saving Fund - Direct Plan - Growth Option Past performance may or may not be sustained in the future. Returns 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. CHIRAG MEHTA / ESH SHETTY QUANTUM MULTI ASSET FUND Name ofmehta, Instrument Mr. Chirag Mr Nilesh Shetty effective from July 11,2012 Industry / Rating Industry / Rating30, 2016 to September Market 28, 2012 to September 30, 2014 to September Value29, In2017 (5 years) September 29, 2017 (1 year) September 29, 2017 (3 years) September Lakhs Benchmark Benchmark Benchmark Benchmark Benchmark Return % Return % (%)# ReturnsReturn (%) # %Return % Return Returns Returns (%) # Return (%)#(%) # Quantum Multi Asset Fund - Direct Plan 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%) + S&P BSE Total Return Index (40%) + Domestic price of Gold (20%) Returns 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. 32 SCHEME PERFORMANCE - FUND MANAGER - WISE

33 CHIRAG MEHTA QUANTUM GOLD SAVINGS FUND Mr. Chirag Mehta effective from May 19, Name Name of of Instrument Instrument September 30, 2016 to September 30, 2014 to September 28, 2012 to September 29, 2017 (1 year) September 29, 2017 (3 years) September 29, 2017 (5 years) Domestic price Domestic price Domestic price of Gold of Gold of Gold Return % Return % Return % Quantum Gold Savings Funds - Direct Plan Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. Returns 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. CHIRAG MEHTA QUANTUM GOLD FUND Name of Instrument Name ofmehta Instrument Mr. Chirag effective from May 01, September 30, 2016 to September 30, 2014 to September 28, 2012 to September 29, 2017 (1 year) September 29, 2017 (3 years) September 29, 2017 (5 years) Domestic price Domestic price Domestic price of Gold of Gold of Gold Return % Return % Return % Quantum Gold Fund (ETF) Past performance may or may not be sustained in the future. Returns 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. ChiragofMehta effective from November 1, 2013 Name Instrument Quantum Equity Fund of Funds - Direct Plan - Growth Option September 30, 2016 to September 30, 2014 to September 28, 2012 to September 29, 2017 (1 year) September 29, 2017 (3 years) September 29, 2017 (5 years) S&P BSE S&P BSE S&P BSE 200 Index 200 Index 200 Index Return % Return Return % Return % (%) Past performance may or may not be sustained in the future. Load is not taken into consideration in Return Calculation. Returns 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. SCHEME PERFORMANCE - FUND MANAGER - WISE 33

34 PANKAJ PATHAK QUANTUM LIQUID FUND Mr. Pankaj effective from March 1, 2017 Name ofpathak Instrument Name of Instrument Quantum Liquid Fund - Direct Plan - Growth Option Market Market28, 2012 to September 30, 2016 to September 30, 2014 to September Value Value29,In In2017 (5 years) September 29, 2017 (1 year) September 29, 2017 (3 years) September Lakhs Crisil Liquid Crisil Liquid Lakhs Crisil Liquid Fund Index Return % Fund Index Fund Index Return % Return % Past performance may or may not be sustained in the future. Returns 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. PANKAJ PATHAK QUNATUM DYNAMIC BOND FUND Mr. Pankaj effective from March 01, 2017 Name ofpathak Instrument Quantum Dynamic Bond Fund - Direct Plan - Growth Option Market28, 2012 to September 30, 2016 to September 30, 2014 to September Value29,In2017 (5 years) September 29, 2017 (1 year) September 29, 2017 (3 years) September CRISIL Composite CRISIL Composite CRISIL Composite LakhsBenchmark Fund Index Return % Bond Fund Index Return % Bond Fund Index Return % Bond Return % Return (%)#(%) Return Past performance may or may not be sustained in the future. Returns 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 scheme has been in exitstence for more than 1 year but less than 3 years from inception. 34 SCHEME PERFORMANCE - FUND MANAGER - WISE

35 DetailsTHE & Risk Factors HOW TOStatutory 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 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 Rs. 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 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 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. SCHEME PERFORMANCE - FUND MANAGER - WISE 35

36 Details & Risk STATUTORYStatutory DETAILS & Factors 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 Rs. 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 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 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? Registered Office: Quantum Asset Management Company Pvt Ltd. 505, Regent Chambers, 5th floor, Nariman Point, Mumbai Corporate Identity Number (CIN): U65990MH2005PTC The Factsheet Published as on 16 October SCHEME PERFORMANCE - FUND MANAGER - WISE