2. Infrastructure rally culminated in 2008 but seeds got sowed in 2003 with electricity bill, golden quadrilateral and NHAI etc.

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1 Mutual Fund January 2014 F A C T S H E E T CEO speak Dear Investors and my dear Advisor friends; I hope you may like the changes we are bringing in the way we present our factsheet to you. Over the years I have realized that all of us fund managers with whom you invest, instead of communicating to you what we are doing, we write on what is happening in the market, in the economy and what are our expectations on the same. Ultimately what happens there is not in our control. We should write to you about how we are managing your money and hence the new Insights section. Without getting into economics or market dynamics; I am tempted to highlight an important development as I write to you. Never ignore the power of sentiment, when it comes to moves in equity markets. In the last 2-3 months and more so in the first 7 days of December 2013 the possibility of new political formations has resulted in a palpable change in sentiment in the markets. If you are in the camp that is disillusioned with equity investing because equity has done nothing in the last 5 years you might want to re-check your position because the possibilities of the next 5 years may not have anything to do with disappointments of the last 5 years. As regards as future possibilities and the next bull market, let us remember that in the year 2000, there was a rally in Technology-Media- Telecom, in 2007 there was a rally in Infrastructure-Retailing-Real Estate. Currently, there is huge disenchantment with equity, instead of being despondent about equities, let us spend our time in figuring out where the next rally may be. Few pointers: 1. Rally doesn't come in a segment of the market that is completely unknown. Technology rally came in 2000 but computer and telecom revolution started in 1985, Infosys got listed in 1994 and many others followed and we knew about Y2K and India's technology prospects well before Infrastructure rally culminated in 2008 but seeds got sowed in 2003 with electricity bill, golden quadrilateral and NHAI etc. 3. So the next rally has possibly already started. It is already upon us, we need to position ourselves for it. Where is it? Having said so, we believe in focusing on what's in our control. What kind of companies we invest in, how do we go about formulating a process of identifying these companies, what are the performance attributes of these companies, and what is our expectation of the performance of these companies I think these are the areas we all should focus on so that we can not only deliver performance but also allow you to participate in the process of formulating that performance. For a few months now, instead of market commentary, I have taken the liberty to provide to you a commentary on our portfolio holdings with the hope that you can read why these companies are part of your investment portfolio. Also, in our ongoing efforts at innovation, I would like to take this opportunity to introduce the Value Index (MOVI). Most market indices are price indices that provide market levels and as time passes, fundamentals of the market change. Therefore, even when markets may be at a certain measured level, they may have become cheap or expensive. MOVI helps investors gauge the investment attractiveness of the markets. In essence, MOVI helps investors in understanding if the markets are cheap or expensive. The index is calculated taking into account Price to Earnings, Price to Book and Dividend yield of the CNX Nifty Index where a low MOVI level indicates that the market valuation appears to be cheap and one may allocate a higher percentage of their investments to Equity as an asset class. This is otherwise known as Indicative Buy Zone. On the other hand, a high MOVI level indicates that the market valuation appears to be expensive and that one may reduce their equity allocation. This is otherwise known as Indicative Sell Zone. For example, in April 2003, when MOVI was around the 67 levels and CNX Nifty Index was at 984, if one had invested entirely in equity using MOVI as an indicator, the investment a year later would have returned ~85%. 1

2 200 CNX Nifty Nifty MOVI* NIFTY MOVI allocation remained 0 (zero ) in equity during this period CNX Nifty Nifty MOVI* The Nifty MOVI 90 DMA level was above 130. As per Allocation Matrix we were 100% in cash with zero exposure in equity market. 20 Dec-07 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 *Allocation matrix is based on the 90 Day Moving Average of Nifty MOVI. Past Performance may or may not be sustained in future. Data as on 31st December 2013; Data rebased to 100 on December 2007; Source: IISL, MOAMC Internal Analysis I would encourage you to look at some data on our website Services/Plans/movi-pack-plan which amply demonstrates the requirement of such a tool. In case of any views or feedback you would like to share with me, please write to me at aashishps@motilaloswal.com Wishing you a Happy and Prosperous Regards, Aashish P Somaiyaa Chief Executive Officer Our Philosophy It is our stated intent to build an Expert Equity House with a focused investment philosophy. Being focused requires discipline of adherence to stated philosophy; the key lies in ignoring short term volatility and keeping patience. Being focused helps avoid distraction of too many ideas and dilution of return from over-diversification; at the same time ensuring that returns from conviction are maximized. As a fund house our investment philosophy rests on following three pillars: Q-G-L: Q denoting Quality of the business and management, G denoting growth in earnings and sustained RoE and L denoting longevity of the competitive advantage or economic moat of the business. We are a value biased investment house. But Value to us does not necessarily mean buying cheap stocks only value to us also means buying those companies whose earnings longevity and earnings growth are not priced in by the market. We like to buy a good business for a fair price rather than buying a fair business for a good price. Buy and Hold: We are strictly buy and hold investors and believe that picking the right business needs skill and holding onto these business to enable our investors to benefit from the entire growth cycle, needs more skill. Focus: Our portfolios are high conviction portfolios with 15 to 20 stocks being our ideal number. We believe in adequate diversification but over-diversification results in diluting returns for our investors and adding market risk. Based on our investment philosophy, we have identified the following areas of business as our focus: i) Innovations through ETFs. ii) Active Equity Management. 2

3 Product Suitability Name of the This product is suitable for investors who are seeking* Name of the This product is suitable for investors who are seeking* MOSt Shares M50 ETF (MOSt Shares M50) MOSt Shares Midcap 100 ETF (MOSt Shares Midcap 100) MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100) Return that corresponds generally to the performance of the MOSt 50 Basket (Underlying Basket), subject to tracking error in equity securities of CNX Nifty Index High risk (BROWN) Return that corresponds generally to the performance of the CNX Midcap 100 Index, subject to tracking error in equity securities of CNX Midcap Index High risk (BROWN) Return that corresponds generally to the performance of the NASDAQ 100 Index, subject to tracking error in equity securities of NASDAQ 100 Index High risk (BROWN) MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund) MOSt Shares Gold ETF (MOSt Gold Shares) MOSt Focused 25 Fund (MOSt Focused 25 Fund) MOSt Ultra Short Term Bond Fund Long term capital appreciation in securities issued by the C e n t r a l G o v e r n m e n t a n d S t a t e Government. Low risk (BLUE) Return by investing in Gold Bullion, subject to tracking error over long term in Gold Bullion High risk (BROWN) Return by investing in upto 25 companies with long term sustainable competitive advantage and growth potential in Equity and equity related instruments subject to overall limit of 25 companies High risk (BROWN) Optimal returns consistent with moderate levels of risk in debt securities and money market securities with average maturity less than equal to 12 months Medium risk (YELLOW) *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Note: Risk is represented as (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk Risk Disclosure and Disclaimer Statutory Details: Constitution: Mutual Fund has been set up as a trust under the Indian Trust Act, Trustee: Trustee Company Ltd. Manager: Asset Management Company Ltd. Sponsor: Securities Ltd. Risk Factors: (1) All Mutual Funds and securities investments are subject to market risks and there can be no assurance that the 's objectives will be achieved (2) As the price / value / interest rates of the securities in which the invests fluctuates, the Net Asset Value (NAV) of units issued under the may go up or down depending upon the factors and forces affecting the securities market (3) Past performance of the Sponsor/AMC/Mutual Fund and its affiliates does not indicate the future performance of the and may not provide a basis of comparison with other investments (4) MOSt Shares M50 ETF (MOSt Shares M50), MOSt Shares Midcap 100 ETF (MOSt Shares Midcap 100), Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ100), MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund), MOSt Shares Gold ETF (MOSt Gold Shares), MOSt Focused 25 Fund and MOSt Ultra Short Term Bond Fund are the name of the s and does not in any manner indicate either the quality of the s, its future prospects and returns. Investors are therefore urged to study the terms of offer carefully and consult their Advisor before they invest in the (5) The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Mutual Fund beyond the initial contribution made by it of an amount of Rs. 1 Lac towards setting up of the Mutual Fund (6) The present s are not guaranteed or assured return s. Mutual Fund investments are subject to market risks, read all scheme related documents carefully 3 RR00004_40112_010

4 MOSl Focused 25 Fund (An open ended Equity ) Name Type of MOSt Focused 25 Fund An Open Ended Equity The investment objective of the is to achieve long term capital appreciation by investing in upto 25 companies with long term sustainable competitive advantage and growth potential. However, there can be no assurance or guarantee that the investment objective of the would be achieved. CNX Nifty Index Details NAV Quarterly AAUM (Dec. 31st, 2013) Standard Deviation 13 May 2013 Growth Plan ` Dividend Plan ` Direct Growth Plan ` Direct Dividend Plan ` `96.50 (` crores) Regular Plan 2.50% p.a. Direct Plan 1.00% p.a (per month) Continuous Offer Entry / Exit Load Minimum Application Amount : `5,000/- and in multiples of `1 /- thereafter. Additional Application Amount : `1,000/- and in multiples of `1/- thereafter. Nil Mr. Taher Badshah Sharpe Ratio Portfolio Turnover Ratio Beta* R-Squared* (per month) He has 18 years of experience in fund management and investment research. He has been managing this fund since inception ^Since inception till date, excluding applicable taxes. *Against the benchmark CNX Nifty Index. # Risk free returns based on 365-days T-bill cut-off of 8.84% as on the last auction. Industry Allocation Software Banks Auto Finance 8.53% Oil 6.01% Consumer Non Durables 5.98% Telecom - Services 5.24% Transportation 5.09% Pharmaceuticals 5.03% Consumer Durables 4.99% Chemicals 4.37% Textile Products 4.30% Construction Project 3.00% Industrial Products 2.51% Cash & Equivalent 6.51% 11.20% 11.16% 16.08% Holdings Sr. No. Scrip 1 Tata Consultancy Services 2 Tech Mahindra 3 HDFC Bank 4 ITC 5 Idea Cellular 6 Container Corporation of India 7 Divi's Laboratories 8 Bata India 9 Housing Development Finance Corporation 10 Kotak Mahindra Bank 11 Maruti Suzuki India 12 Pidilite Industries 13 Page Industries 14 Sundaram Finance 15 Tata Motors 16 Cairn India 17 Larsen & Toubro 18 Hero MotoCorp 19 Cummins India 20 Oil & Natural Gas Corporation Weightage in F % 7.47% 6.73% 5.98% 5.24% 5.09% 5.03% 4.99% 4.51% 4.47% 4.46% 4.37% 4.30% 4.02% 3.96% 3.58% 3.00% 2.74% 2.51% 2.43% Industry classification as recommended by AMFI Returns for MOSt Focused 25 Fund are not provided because the scheme has not completed 1 year. NOTE : Mr. Taher Badshah is also fund manager for MOSt Shares M50, MOSt Shares Midcap 100, MOSt Shares NASDAQ 100. The returns for which are on page no. 6, 7 and 8 respectively. 4

5 Mosl ULTRA SHORT TERM BOND FUND (An open ended Debt ) Name Type of Continuous Offer Entry / Exit Load MOSt Ultra Short Term Bond Fund An Open Ended Debt The investment objective of the is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. However, there can be no assurance or guarantee that the investment objective of the would be achieved. CRISIL Short Term Bond Fund Index. Minimum Application Amount : `5,000/- and in multiples of `1/- thereafter. Additional Application Amount : `1000/- and in multiples of `1/- thereafter. Nil Details NAV 6 September 2013 Direct Plan- Growth Direct Plan-Daily Dividend Option Direct Plan-Fortnightly Dividend Option Regular Plan- Growth Regular Plan-Daily Dividend Option Regular Plan-Fortnightly Dividend Option ` Regular Plan-Monthly Dividend Plan Quarterly AAUM (Dec. 31st, 2013) `53.89 (` crores) Regular Plan-Weekly Dividend Option Regular Plan Direct Plan 1.00% p.a. 0.25% p.a. ` ` ` ` ` ` ` Portfolio Security Issuer % of holding (as on ) IDBI Bank CD Indusind Bank CD PUNJAB NATIONAL BANK CD J AND K BANK LTD CD CANARA BANK CD Indian Bank LTD CD Reverse REPO/Cash/Others IDBI Bank Indusind Bank Punjab National Bank J&K Bank Canara Bank Indian Bank Quantitative Indicators Average Maturity * YTM Mr. Abhiroop Mukherjee 0.11 Years / days % *For USTBF Modified Duration is equal to its Average maturity. He has over 6 years of experience in the Financial Services Industry. He has been managing this fund since inception. Returns for MOSt Ultra Short Term Bond Fund are not provided because the scheme has not completed 1 year. NOTE : Mr. Abhiroop Mukherjee is also fund manager for MOSt 10 Year Gilt Fund. The returns for which are on page no. 9. 5

6 (An open ended Exchange Traded Fund) Name MOSt Shares M50 ETF (MOSt Shares M50) Type of An open ended Exchange Traded Fund Details NAV - Growth Plan Quarterly AAUM (Dec. 31st, 2013) 28 July 2010 ` `43.19 (` crores) The seeks investment return that corresponds Tracking Error* 0.31% (Annualised) (before fees and expenses) generally to the Performance of the MOSt 50 Basket (Underlying Basket), subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the would be achieved. Standard Deviation Sharpe Ratio# Portfolio Turnover Ratio 1.25% p.a (Annualised) (Annualised) 0.67 Continuous Offer MOSt 50 Basket and CNX Nifty Index On NSE: Investors can buy/sell units of the in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy/sell units of the only in creation unit size i.e. 50,000 units and in multiples thereof. Beta R-Squared *Against the benchmark MOSt 50 Basket ^Year-to-date, excluding applicable taxes. #Risk free returns based on 365- days T-bill cut-off of 8.84% as on the last auction. NSE & BSE Symbol Bloomberg Code Reuters Code M50 MOSTM50 M50.NS MOSt ISIN Code Entry Load Exit Load CNX Nifty INF247L01015 Mr. Taher Badshah He has 18 years of experience in the Financial Services Industry. He has been managing this fund from June 26, 2013 Performance Date Since Inception till Dec. 31, 2013 Dec. 31, 2012 to Dec. 31, 2013 Dec. 31, 2011 to Dec. 31, 2012 Dec. 31, 2010 to Dec. 31, 2011 MOSt Shares M50 Returns (%)^ 3.69% 7.06% 34.09% % MOSt 50 Basket Returns (%) 4.92% 8.51% 35.22% % Current Value of Standard of Rs. 10,000/- CNX Nifty Returns (%)* 4.63% 6.76% 27.70% % MOSt Shares M50 Returns (INR) ^ MOSt 50 Basket Returns (INR) 11,322 11,790 N. A. CNX Nifty Returns (INR) 11,679 NAV per unit : Rs (Dec 31, 2013); Rs (Dec 31, 2012); Rs (Dec 31, 2011); Rs (Dec 31, 2010); Rs (July 28, 2010) Returns for one year are absolute. Returns for more than one year are compounded annualized; Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. *Also represents Additional Industry Allocation Top 10 Holdings Banks Construction Auto Power 8.55% 12.52% 14.33% 13.90% Sr. No. 1 Scrip Jaiprakash Associates Weightage in M50^ 8.76% Finance Construction Project 8.13% 8.01% 2 Larsen & Toubro 8.01% Non - Ferrous Metals Software Cement 6.38% 5.61% 4.77% 3 4 Hindalco Industries DLF 6.38% 5.14% Minerals/Mining Petroleum Products 4.63% 4.09% 5 Mahindra & Mahindra 4.84% Pharmaceuticals Consumer Non Durables Ferrous Metals 2.87% 1.54% 1.35% 6 7 Tata Power Company Housing Development Finance Corporation 4.72% 4.28% Oil Industrial Capital Goods 1.11% 0.63% 8 Axis Bank 4.04% Gas Telecom - Services Cash & Equivalent 0.57% 0.54% 0.47% 9 10 IDFC ICICI Bank 3.85% 3.78% Industry classification as recommended by AMFI NOTE : Mr. Taher Badshah is also fund manager for MOSt Shares Midcap 100 & MOSt Shares NASDAQ 100. The returns for which are on page no. 7 and 8 respectively. Mr. Taher Badshah has been appointed as fund manager of this scheme w.e.f. June 26, 2013 vide addendum dated June 25, ^MOSt Shares M50 6

7 IMidcap 100 (An open ended Index Exchange Traded Fund) MOSt Shares Midcap 100 ETF Name (MOSt Shares Midcap100) Details NAV - Growth Plan 31 January 2011 ` Type of An open ended Index Exchange Traded Fund Quarterly AAUM (Dec. 31st, 2013) `34.90(` crores) The seeks investment return that corresponds (before fees and expenses) to the performance of CNX Midcap Index (Underlying Index), subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the would be achieved. Tracking Error* Standard Deviation Sharpe Ratio# Portfolio Turnover Ratio Beta* 0.43% (Annualised) 1.00% p.a (Annualised) (Annualised) CNX Midcap Index R-Squared* 1.00 Continuous Offer * On NSE/BSE : Investors can buy/sell units of the in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy/sell units of the only in creation unit size i.e. 2,50,000 units and in multiples thereafter. *Against the benchmark CNX Midcap Total Return Index ^Year-to-date. # Risk free returns based on 365-days T-bill cut-off of 8.84% as on the last auction. NSE / BSE Symbol M100 ISIN Code INF247L01023 Bloomberg Code MOST100 Entry Load Reuters Code M100.NS Exit Load *The units of MOSt Share Midcap100 is listed on BSE w.e.f. December 6, 2013 Mr. Taher Badshah Performance He has 18 years of experience in the Financial Services Industry. He has been managing this fund from June 26, 2013 Additional Date MOSt Shares Midcap100 Returns (%) ^ CNX Midcap Returns (%) CNX Nifty Returns (%) December 31, 2012 to December 31, % -5.10% 6.76% December 31, 2011 to December 31, % 39.16% 27.70% Returns for one year are absolute. Returns for more than one year are compounded annualized; Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Additonal for equity scheme is CNX Nifty Industry Allocation Pharmaceuticals Banks Consumer Non Durables Finance Auto Ancillaries Industrial Capital Goods Power Transportation Software Cement Ferrous Metals Telecom -Services Petroleum Products Trading Consumer Durables Gas Healthcare Services Auto Services Oil Pesticides Industrial Products Media & Entertainment Construction Project Chemicals Telecom - Equipment & Accessories Hotels Non - Ferrous Metals Construction Cash & Equivalent 5.83% 5.79% 5.63% 4.41% 3.56% 2.47% 2.42% 2.29% 2.23% 2.05% 1.97% 1.93% 1.91% 1.90% 1.79% 1.76% 1.65% 1.59% 1.45% 1.43% 1.28% 0.85% 0.83% 0.82% 0.55% 0.14% 11.30% 11.07% 10.13% 8.97% Top 10 Holdings Sr. No. Scrip 1 Mahindra & Mahindra Financial Services 2 Reliance Communications 3 Adani Ports and Special Economic Zone 4 Divi's Laboratories 5 Glenmark Pharmaceuticals 6 Adani Enterprises 7 Apollo Hospitals Enterprise 8 Oracle Financial Services Software 9 Aditya Birla Nuvo 10 Oil India Weightage in Midcap 100^ 2.31% 2.29% 2.13% 2.06% 1.98% 1.91% 1.91% 1.84% 1.79% 1.76% Industry classification as recommended by AMFI ^MOSt Shares Midcap 100 NOTE : Mr. Taher Badshah is also fund manager for MOSt Shares M50 & MOSt Shares NASDAQ 100. The returns for which are on page no. 6 and 8 respectively. Mr. Taher Badshah has been appointed as fund manager of this scheme w.e.f. June 26, 2013 vide addendum dated June 25,

8 nasdaq 100 (An open ended Index Exchange Traded Fund) I I Name MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100) Details NAV - Growth Plan 29 March 2011 ` Type of An open ended Index Exchange Traded Fund Quarterly AAUM (Dec. 31st, 2013) `83.59 (` crores) The seeks investment return that corresponds (before fees and expenses) generally to the performance of the NASDAQ-100 Index, subject to tracking error. However, there can be no assurance or guarantee that the Tracking Error* Standard Deviation Sharpe Ratio# 0.42% (Annualised) 1.00% p.a (Annualised) 1.74 (Annualised) investment objective of the would be achieved. Portfolio Turnover Ratio 0.24 Continuous Offer NASDAQ-100 Index On NSE & BSE: Investors can buy/sell units of the in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy/sell units of the only in creation unit size i.e. 100,000 units and in multiples thereafter. Beta* R-Squared* *Against the benchmark with NASDAQ 100 Total Return Index ^Year-to-date. # Risk free returns based on 365-days T- bill cut-off of 8.84% as on the last auction. NSE & BSE Symbol Bloomberg Code Reuters Code N100 MOSTNDX N100.NS or N100.BO ISIN Code Entry Load Exit Load INF247L01031 Mr. Taher Badshah Performance He has 18 years of experience in the Financial Services Industry. He has been managing this fund from June 26, 2013 Additional Date MOSt Shares N100 ETF Returns (%) ^ NASDAQ-100 Index (In INR) (%) CNX Nifty Returns (%) December 31, 2012 to December 31, % 54.77% 6.76% December 31, 2011 to December 31, % 17.51% 27.70% Returns for one year are absolute. Returns for more than one year are compounded annualized; Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Additonal for equity scheme is CNX Nifty Industry Allocation Software & Services Technology Hardware & Equipment Pharmaceuticals, Biotechnology Retailing Media Semiconductors & Semiconductor Internet Software & Services Health Care Equipment & Services Food Products Consumer Services Food & Staples Retailing Biotechnology Semiconductors Telecommunication Services Capital Goods Wireless Telecommunication Services Consumer Durables & Apparel Computers & Peripherals AutoMobile Transportation Hotels Restaurants & Leisure Life Sciences Tools & Services Professional Services Food Beverages & Tobacco Materials Semiconductors & Semiconductor Beverages Internet & Catalog Retail Specialty Retail Commercial & Professional Services Health Care Providers & Servic Cash & Equivalent 9.24% 8.77% 8.18% 6.88% 2.71% 2.49% 2.33% 1.96% 1.82% 1.32% 1.19% 0.96% 0.87% 0.82% 0.63% 0.49% 0.46% 0.45% 0.36% 0.35% 0.28% 0.28% 0.28% 0.28% 0.28% 0.26% 0.26% 0.25% 0.24% 0.20% 25.29% 19.82% Top 10 Holdings Sr. No. Scrip 1 Apple 2 Microsoft Corporation 3 Google 4 Amazon.com 5 Intel Corporation 6 QUALCOMM 7 Cisco Systems 8 Gilead Sciences 9 Comcast Corporation 10 Facebook Weightage in N100^ 12.40% 7.74% 7.63% 4.48% 3.19% 3.09% 2.96% 2.86% 2.75% 2.50% Industry Classification is as per Global Industry Classification Standard (GICS). ^MOSt Shares NASDAQ 100 NOTE : Mr. Taher Badshah is also fund manager for MOSt Shares M50 & MOSt Shares Midcap 100. The returns for which are on page no. 6 and 7 respectively. Mr. Taher Badshah has been appointed as fund manager of this scheme w.e.f. June 26, 2013 vide addendum dated June 25,

9 Mosl10 Year gilt fund (An open ended Gilt ) Name Type of Continuous Offer Load Portfolio MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund) An Open Ended Gilt The primary investment objective of the scheme is to generate credit risk - free return by investing in a portfolio of securities issued by the Central Government & State Government. However there can be no assurance or guarantee that the investment objective of the would be achieved. CRISIL 10 Year Gilt Index Minimum Application Amount : `10,000 /- and in multiples of `1 /- thereafter. Additional Application Amount : `1000 /- and in multiples of `1/- thereafter. Entry - Nil; Exit % if redeemed within 30 days.* Security Issuer % of holding 8.83% GOI 2023 Reverse REPO/Cash/Others Quantitative Indicators Average Maturity Modified Duration YTM Mr. Abhiroop Mukherjee Government of India Years 6.31 Years % He has over 6 year experience in the Financial Services Industry. He has been managing this fund since inception. Details Quarterly AAUM (Dec. 31st, 2013) Dividend History Record Date Dividend Option Rate(Re/Unit) May 17, December 2011 Growth Plan Dividend Plan Direct Dividend Plan `66.51 (` crores) Cum Dividend NAV ` ` NAV Direct Growth Plan ` Regular Plan Direct Plan ` % p.a. 0.91% p.a. ^Year-to-date. Ex Dividend NAV* January 8, Past performance may or may not be sustained in the future; Dividend distribution is subject to availability & adequacy of distributable surplus. After the payment of dividend, the per unit NAV falls to the extent of the dividend payout and distribution taxes, if any. Performance of dividend plan/option would be net of applicable statutory levy, if any. * NAV on the 1st transaction day after Record Date, which includes the mark to market impact also. Performance Period December to December MOSt 10 Year Gilt Fund Returns (%)^ -2.24% CRISIL 10 Year Gilt Index -2.05% Returns for one year are absolute, ^ Past performance may or may not be sustained in the future *The exit load structure has been changed from 0.50% to 0.25% w.e.f. March 14, 2013 vide addendum dated March 13, NOTE : Mr. Abhiroop Mukherjee is also fund manager for MOSt Ultra Short Term Bond Fund. Past Performance of the said scheme has not been provided as the scheme has not completed 1 year. 9

10 Mosl GOLD SHAREs (An open ended Exchange Traded Fund) Name Type of Continuous Offer Portfolio Security Type Gold Cash & Other Receivables Net Assets MOSt Shares Gold ETF An Open Ended Exchange Traded Fund The objective of the scheme is to provide return by investing in Gold Bullion. The performance of the fund will be benchmarked to the Spot Gold Price. However, the performance of the schame may differ from that of the index due to tracking error. There can be no assurance or gurantee of the investment objective of the scheme would be achived. Spot Domestic Gold Price On NSE & BSE: Investor can buy/sell units in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund : Investor can buy / sell units of the scheme in creation of Unit Size. Mr. Anubhav Srivastava % of holding 98.81% 1.19% % He has 17 years of experience in the Financial Services Industry. He has been managing this fund from June 26, Details NAV - Growth Plan Quarterly AAUM (Dec. 31st, 2013) Tracking Error NSE & BSE Symbol Bloomberg Code ISIN Code Performance Period December 31, 2012 to December 31, 2013 MGOLD MOSTGLD INF247L March 2012 ` `55.71 (` crores) 1.50% p.a. 0.30% (Annualised) Entry Load Exit Load MOSt Gold Shares ETF Returns (%) ^ % Returns for one year are absolute. Returns for more than one year are compounded annualized; ncase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. ^Year-to-date. Spot Domestic Gold Price Returns (%) ^ % NOTE : Mr. Anubhav Srivastava has been appointed as fund manager of this scheme w.e.f. June 26, 2013 vide addendum dated June 25,

11 India's 1st Fundamentally weighted ETF based on CNX Nifty Index (Nifty50) which consists of a diversified portfolio of top 50 Indian companies which are part of Nifty50. M50 Basket (also referred as Nifty50 Re-mixed), consists of all stocks of Nifty50 with Capital allocation determined by AMC's proprietary 4 factor methodology based on: i) Shareholders funds / Networth / Shareholders Equity ii) Return on Equity iii) Plowback Ratio iv) Price This eliminates the bias of size and expensiveness in an investment portfolio through higher allocation to constituents with good financial performance & reasonable valuation and lower allocation to constituents with poor financial performance & high valuation. Capital allocation rebalanced whenever there is change in Nifty 50 constituents or 12 months from last rebalance, whichever is earlier. M50 basket is calculated and maintained by India Index Service Limited. The active mutual funds in the industry has expense ratios ranging between 2 to 3 percent (Source: MFI Explorer) where as ETFs like M50 levy 1.25 percent. Mutual Fund IMidcap 100 While the index corrected sharply and then rebound, the valuations remain below 2012 levels. Price/EPS for CY 2012 was whereas currently its around However, Price/Sales for the Index is close to where it was last year (0.98 v/s 0.97) and EV/EBITDA is similarly at v/s showing a possible revival in fortunes of underlying companies and making the CNX Midcap Index attractive. This is an ideal product to if you expect that the markets will get into bullish mode for next 5 years. Source: Bloomberg Data as on 31st Dec Mutual Fund nasdaq 100 I I The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial securities listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies. A recent example (of companies in NASDAQ 100 Index) has been of Tesla Motors which returned a handsome 344% CYTD. The other companies like Google, Microsoft and Qualcomm have returned 57.99%, 40.03% and 20.03% respectively. Source: Bloomberg Data as on 31st Dec To know more about ETFs, please visit: Mutual Fund Mosl10 Year gilt fund The fund is a play on the interest rate cycle where illiquidity premiums are the low (10 year benchmark G-Sec is the most liquid segment of the market) and provides Credit risk free returns (the exposure to sovereign risk). Interest rates have been hovering near 9 percent for some time, making it a good time to invest should an investor have possible capital appreciation as an investment objective. As there are no active duration calls or duration management, advisors and investors alike can look at this fund to either benefit from the interest rate cycle or to manage duration of their portfolios. Since there is no index exposure available in the debt market, MOSt 10 Year Gilt Fund may be used for exposure to one of the most liquid debt securities. 11

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