Invest for Long Term Growth while Saving Taxes

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

2 CIO Letter Dear Investors, Warm Greetings! Markets closed positively during the month of December, registering gains of 2.7%. For the year 2017 markets are up by 28%. While data points were negative, BJP s win in both Gujarat and Himachal state elections helped drive positive sentiments. The performance of both developed and emerging markets were mixed with Dow Jones and Turkey stock index giving best returns of 5% and 6% respectively. In India, midcaps outperformed the Nifty by 3%. Auto, metals, FMCG and IT outperformed the Nifty, while banks and energy underperformed. As widely expected, federal reserve raised rates by 25bps from 1.25% to1.50%. Mr. Sanjay Chawla Chief Investment Officer Its statement is largely unchanged i.e. economic outlook with labour market is strengthening while inflation may remain below 2% target. US Fed policy is likely to remain accommodative & interest rates may rise gradually. Fed may be expected to stay on guided path, three rate hikes in 2018 with balance sheet tightening. Locally, CPI inflation accelerated to 4.9% in November from 3.7% in October, led partly by adverse base effect and also by across-the-board surge in food inflation and core inflation. Food inflation picked up to 4.4% as compared to 1.9% in October. On a sequential basis, the food index moved up 1.6% m-o-m primarily led by eggs, vegetables and sugar. Pulses price s continued to contract sequentially. Fuel and light inflation surged upto 8%, led by a 2% m-o-m increase reflecting the impact of higher prices of LPG, kerosene and electricity. IIP growth in October slowed to 2.2% compared to upwardly revised growth of 4.1% in September. Sectorwise, manufacturing growth was at 2.5% compared to a 10-month high of 3.8% in September. Sequentially manufacturing production contracted 1% m-o-m after two consecutive months of positive growth. Mining also recorded a sharp slowdown to 0.2% from 7.8% in September, led by adverse base effect, even though the sequential momentum remained firm at 7.1% m-o-m. Electricity grew by 3.2%. On use-based basis, capital goods posted the third consecutive growth at 6.8% suggesting nascent signs of stability on the investment activity. Infrastructure and construction sector also grew at a 10-month high of 5.2%. non-durables grew firm at 7.7%, while consumer durables contracted by 6.9%. The BJP s election momentum continued to hold sway. It has retained all-important part(s) of Gujarat with a clear majority and wrested power from Congress in Himachal Pradesh. The saffron party had its share of challenges-was up against rural distress, near-term disruption due to demonetisation & GST and two decades of anti-incumbency in Gujarat. That said, Gujarat s contest turned out to be a close fight, with BJP s tally at the lower end of exit polls. While it performed well in urban centres (despite GST/ demonetisation impact), it lost ground in rural areas amidst high farm distress. We may see a policy bias towards fiscal spend with rural focus. While we see the economic/earnings cycle picking up, the election cycle is probably now upon us, and this will add to the swings in the market. For the markets, the focus may shift back to earnings since now we would be entering the quarterly earnings season. Currently, Nifty is trading at PEof 16.5 for FY19 as per the consensus earnings estimates. Consensus expects earnings growth of 17% CAGR for two years which could see some moderation going forward. I take this opportunity to wish you a very happy and wonderful year ahead. Happy investing. Happy Investing! Sanjay Chawla Chief Investment Officer Sources : Bloomberg, Economic Times 2

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

4 How To Read Factsheet? Fund Manager : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount : This is the minimum investment amount for an existing investor in a mutual fund scheme. Yield to Maturity : The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, coupon interest rate and time to maturity. SIP : SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15 th of the month in an equity fund for a period of three years. V : The V or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The V is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. Benchmark : A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. : A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/ agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing V at the time of investment. For instance, if the V is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load : Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing V at the time of redemption. For instance, if the V is Rs 100 and the exit load is 1%, the redemption price would be Rs 99 Per Unit. Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield Standard Deviation : Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio : The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta : Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM : AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings : The holdings or the is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of Scheme : The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile : Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds. 4

5 Baroda Pioneer Growth Fund An Open Ended Growth Scheme Investors understand that their principal will be at Moderately High risk Capital appreciation over long term Investment predominantly in equity and equity related instruments. To generate long term capital appreciation from an actively managed of equity & equity related instruments. Type of Scheme An Open Ended Growth Scheme Date of Allotment September 12, 2003 Fund Manager # Mr. Sanjay Chawla & (Experience 29 yrs) Mr. Dipak Acharya (Experience 13 yrs) Benchmark S&P BSE 200* Monthly Average Crs AUM () Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units Option A. Growth Option (default option in case no option specified by ; B. Dividend Option 1. Payout 2. Re-investment (default sub-option in case no option specified by C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 29 DECEMBER 2017 Standard deviation 14.19% 0.36 Beta 0.98 Portfolio Turnover (last 12 months) 1.12 V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Growth Dividend % Plan B (Direct) 2.07% EQUITY & EQUITY RELATED % to Net HDFC Bank Ltd. Banks 6.52% Maruti Suzuki India Ltd. Auto 4.52% Hindalco Ltd. Non - Ferrous Metals 3.43% ICICI Bank Ltd. Banks 3.40% Mahindra & Mahindra Financial Finance 3.37% Kansai Nerolac Paints Ltd. Non 3.29% Tata Steel Ltd. Ferrous Metals 3.29% Yes Bank Ltd. Banks 3.17% Petronet LNG Ltd. Gas 2.80% Motherson Sumi Systems Ltd. Auto Ancillaries 2.76% SBI Life Insurance Company Ltd. Finance 2.69% The Federal Bank Ltd. Banks 2.69% GAIL (India) Ltd. Gas 2.67% Britannia Ltd. Non 2.62% Whirlpool of India Ltd. 2.45% Bharti Airtel Ltd. Telecom - Services 2.29% State Bank of India Banks 2.16% Bharat Forge Ltd. Industrial Products 2.15% Indraprastha Gas Ltd. Gas 2.08% Blue Star Ltd. 2.02% Pidilite Ltd. Chemicals 2.02% HCL Technologies Ltd. Software 1.93% Godrej Products Ltd. Non 1.89% Apollo Tyres Ltd. Auto Ancillaries 1.87% Reliance Ltd. Petroleum Products 1.85% NBCC (India) Ltd. 1.81% Bank of Baroda Banks 1.74% Sadbhav Engineering Ltd. Project 1.72% Indian Oil Astral Poly Technik Ltd. Titan Company Ltd. Petroleum Products Industrial Products 1.56% 1.55% 1.46% Mahindra & Mahindra Ltd. Auto 1.39% Capital First Ltd. Finance 1.39% WABCO India Ltd. Auto Ancillaries 1.39% Central Depository Services (I) Ltd. Finance 1.38% The Ramco Cements Ltd. Cement 1.34% Larsen & Toubro Ltd. Project 1.31% Ultratech Cement Ltd. Cement 1.20% Ashok Leyland Ltd. Auto 1.20% % to Net Shriram Transport Finance Company Ltd. Finance 1.15% Eicher Motors Ltd. Auto 1.08% Vedanta Ltd. Non - Ferrous Metals 1.02% Bajaj Finserv Ltd. Finance 0.97% Engineers India Ltd. Project 0.93% Union Bank of India Banks 0.76% Security and Intelligence Services (I) Ltd. Commercial Services 0.65% NMDC Ltd. Minerals/Mining 0.53% Grasim Ltd. Cement 0.45% Syndicate Bank Banks 0.15% Total 98.06% CBLO / Reverse Repo Investments 2.77% Total 2.77% Net Receivable/Payable -0.83% Total -0.83% Non /Ratings Minerals/Mining Commercial Services Software Cash & Equivalent Chemicals Telecom - Services Cement Ferrous Metals Petroleum Products Industrial Products Project Non - Ferrous Metals Auto Ancillaries $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no *For Disclaimer please refer page no free rate (FBIL Overnight MIBOR) 6.20% & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, Gas Auto Finance Banks 0.53% 0.65% 1.81% 1.93% 1.94% 2.02% 2.29% 2.99% 3.29% 3.41% 3.70% 3.96% 4.45% 5.93% 6.02% 7.55% 7.80% 8.19% 10.95% 20.59%

6 Baroda Pioneer ELSS 96 An Open Ended Tax Benefit - Cum - Growth Scheme Investors understand that their principal will be at Moderately High risk Capital growth over long term Investment predominantly in equity and equity related instruments. The main objective of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, Type of Scheme An Open Ended Tax Benefit- Cum-Growth Scheme Date of Allotment March 31, 1996 Fund Manager # Mr. Sanjay Chawla & (Experience 29 yrs) Mr. Dipak Acharya (Experience 13 yrs) Benchmark S&P BSE 200* Monthly Average Crs AUM () Month end AUM () Crs Minimum Investment 500/- & in multiples of 1/- Exit Load Nil Option A. Growth Option (default option in case no option specified by ; B. Dividend Option C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 29 DECEMBER 2017 Standard deviation 17.74% 0.27 Beta 1.02 Portfolio Turnover (last 12 months) 1.22 V AS ON 29 DECEMEBER 2017 V (Per Unit) Dividend Bonus Growth Dividend Bonus Growth % Plan B (Direct) 1.89% EQUITY & EQUITY RELATED % to Net HDFC Bank Ltd. Banks 6.53% Maruti Suzuki India Ltd. Auto 4.34% Mahindra & Mahindra Financial Finance 3.67% Yes Bank Ltd. Banks 3.66% Non Kansai Nerolac Paints Ltd. 3.57% Hindalco Ltd. Non - Ferrous Metals 3.50% Tata Steel Ltd. Ferrous Metals 3.24% Whirlpool of India Ltd. 2.98% Petronet LNG Ltd. Gas 2.96% The Federal Bank Ltd. Banks 2.94% ICICI Bank Ltd. Banks 2.80% Motherson Sumi Systems Ltd. Auto Ancillaries 2.79% Bharat Financial Inclusion Ltd. Finance 2.71% GAIL (India) Ltd. Gas 2.71% Apollo Tyres Ltd. Auto Ancillaries 2.60% Britannia Ltd. Non 2.56% Carborundum Universal Ltd. Industrial Products 2.48% Bata India Ltd. 2.32% Bharti Airtel Ltd. Telecom - Services 2.26% Pidilite Ltd. Chemicals 2.10% Bajaj Finserv Ltd. Finance 2.03% Cholamandalam Investment and Finance Finance 2.01% Company Ltd. The Karnataka Bank Ltd. Banks 2.00% Indraprastha Gas Ltd. Gas 1.95% State Bank of India Banks 1.92% NBCC (India) Ltd. 1.91% Security and Intelligence Services (I) Ltd. Commercial Services 1.86% HCL Technologies Ltd. Software 1.73% WABCO India Ltd. Auto Ancillaries 1.71% Central Depository Services (I) Ltd. Finance 1.66% Vedanta Ltd. Non - Ferrous Metals 1.66% Symphony Ltd. 1.63% Capital First Ltd. Finance 1.61% Blue Star Ltd. 1.41% Ashok Leyland Ltd. Auto 1.39% Mahindra & Mahindra Ltd. Auto 1.28% Ambuja Cements Ltd. Cement 1.27% City Union Bank Ltd. Banks 1.12% Century Textiles & Ltd. Cement 1.11% Larsen & Toubro Ltd. Project % to Net 1.10% NMDC Ltd. Minerals/Mining 0.80% Can Fin Homes Ltd. Finance 0.55% GMR Infrastructure Ltd. Project 0.52% The South Indian Bank Ltd. Banks 0.48% Syndicate Bank Banks 0.37% Sadbhav Engineering Ltd. Project 0.07% Total 97.87% CBLO / Reverse Repo Investments 2.53% Total 2.53% Net Receivable/Payable -0.40% Total -0.40% Non /Ratings Minerals/Mining Project Software Commercial Services Chemicals Cash & Equivalent Telecom - Services Cement Industrial Products Ferrous Metals Non - Ferrous Metals Auto Auto Ancillaries Gas Finance Banks 0.80% 1.69% 1.73% 1.86% 1.91% 2.10% 2.13% 2.26% 2.38% 2.48% 3.24% 5.16% 6.13% 7.01% 7.10% 7.62% 8.34% 14.24% 21.82% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no free rate (FBIL Overnight MIBOR) 6.20% *For Disclaimer please refer page no 22 & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1,

7 Baroda Pioneer Mid-Cap Fund An Open Ended Equity Scheme Investors understand that their principal will be at High risk Capital appreciation over long term. Investment predominantly in equity and equity related securities of growth oriented Mid-Cap stocks. The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified of equity and equity related securities of growth oriented mid cap stocks. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized Type of Scheme An Open Ended Equity Scheme Date of Allotment October 4, 2010 Fund Manager # Mr. Sanjay Chawla (Experience 29 yrs) Mr. Dipak Acharya (Experience 13 yrs) Benchmark S&P BSE Mid-cap index* Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units Option A. Growth Option (default option in case no option specified by ; B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 29 DECEMBER 2017 Standard deviation 16.43% Beta 0.92 Portfolio Turnover (last 12 months) 1.67 V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Growth Dividend % Plan B (Direct) 2.29% % to Net EQUITY & EQUITY RELATED Whirlpool of India Ltd. 3.74% Symphony Ltd. 3.64% Carborundum Universal Ltd. Industrial Products 3.43% BEML Ltd. Industrial Capital Goods 3.37% City Union Bank Ltd. Banks 3.37% Mahindra & Mahindra Financial Finance 3.33% Bata India Ltd. 3.31% Astral Poly Technik Ltd. Industrial Products 3.30% Bharat Financial Inclusion Ltd. Finance 3.26% Gujarat State Fertilizers & Chemicals Ltd. Fertilisers 3.25% Kalpataru Power Transmission Ltd. Power 3.08% Crompton Greaves Electricals Ltd. 2.87% The Karnataka Bank Ltd. Banks 2.77% Raymond Ltd. Textile Products 2.76% K.P.R. Mill Ltd. Textile Products 2.72% Bajaj Electricals Ltd. 2.59% NBCC (India) Ltd. 2.57% Cholamandalam Investment and Finance Company Ltd. Finance 2.54% The Federal Bank Ltd. Banks 2.47% Indraprastha Gas Ltd. Gas 2.41% PC Jeweller Ltd. 2.38% Blue Dart Express Ltd. Transportation 2.37% GMR Infrastructure Ltd. Project 2.34% Jubilant Foodworks Ltd. Non 2.30% National Aluminium Company Ltd. Security and Intelligence Services (I) Ltd. Non - Ferrous Metals Commercial Services 2.24% 2.19% Rallis India Ltd. Pesticides 2.07% Solar India Ltd. Chemicals 2.00% Tata Sponge Iron Ltd. Ferrous Metals 1.93% Gulf Oil Lubricants India Ltd. Petroleum Products 1.93% WABCO India Ltd. Auto Ancillaries 1.91% Century Textiles & Ltd. Cement 1.87% Blue Star Ltd. 1.71% JK Cement Ltd. Cement 1.45% Century Plyboards (India) Ltd. 1.33% Bajaj Corp Ltd. Non 1.25% Balkrishna Ltd. Auto Ancillaries 1.25% Can Fin Homes Ltd. Finance 1.23% % to Net Sundram Fasteners Ltd. Auto Ancillaries 1.14% Union Bank of India Banks 0.70% Syndicate Bank Banks 0.50% Orient Cement Ltd. Cement 0.47% Total 97.34% CBLO / Reverse Repo Investments 1.84% Total 1.84% Net Receivable/Payable 0.82% Total 0.82% Petroleum Products Ferrous Metals Chemicals Pesticides Commercial Services Non - Ferrous Metals Project Transportation Gas Cash & Equivalent Power Fertilisers Industrial Capital Goods Non Cement Auto Ancillaries Textile Products Industrial Products Banks Finance /Ratings 1.93% 1.93% 2.00% 2.07% 2.19% 2.24% 2.34% 2.37% 2.41% 2.57% 2.66% 3.08% 3.25% 3.37% 3.55% 3.79% 4.30% 5.48% 6.73% 9.81% 10.36% 21.57% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 *For Disclaimer please refer page no 22 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no free rate (FBIL Overnight MIBOR) 6.20% 7

8 Baroda Pioneer Large Cap Fund An Open Ended Equity Scheme /Ratings Investors understand that their principal will be at Moderately High risk Capital appreciation over long term Investment predominantly in a diversified of equity and equity related securities of Large Cap companies. The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified of equity and equity related securities of large cap companies. The Scheme may also invest in debt and money market securities. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized. Type of Scheme An Open Ended Equity Scheme Date of Allotment June 22, 2010 Fund Manager # Mr. Sanjay Chawla (Experience 29 yrs) Mr. Dipak Acharya (Experience 13 yrs) Benchmark Nifty 100* Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units Option SIP (Minimum) A. Growth Option (default option in case no option specified by ; B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option C. Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 29 DECEMBER 2017 Standard deviation 15.30% 0.10 Beta 0.99 Portfolio Turnover (last 12 months) 1.39 V (Per Unit) V AS ON 29 DECEMEBER 2017 Growth Dividend Growth Dividend % to Net EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 7.59% Maruti Suzuki India Ltd. Auto 6.57% Reliance Ltd. Petroleum Products 6.22% Hindalco Ltd. Non - Ferrous Metals 6.01% Larsen & Toubro Ltd. Project 5.10% ICICI Bank Ltd. Banks 4.77% GAIL (India) Ltd. Gas 4.56% Ultratech Cement Ltd. Cement 4.38% Yes Bank Ltd. Banks 4.26% Tata Steel Ltd. Ferrous Metals 3.71% Bharti Airtel Ltd. Telecom - Services 3.22% Hindustan Unilever Ltd. Non 2.77% Ambuja Cements Ltd. Cement 2.76% State Bank of India Banks 2.62% MRF Ltd. Auto Ancillaries 2.44% Mahindra & Mahindra Financial Finance 2.40% Godrej Products Ltd. Non 2.36% Grasim Ltd. Cement 2.36% Zee Entertainment Enterprises Ltd. Colgate Palmolive (India) Ltd. Nestle India Ltd. Media & Entertainment Non Non 2.16% 2.04% 1.99% Indian Oil Petroleum Products 1.97% Container Corporation of India Ltd. Transportation 1.86% PNB Housing Finance Ltd. Finance 1.81% ABB India Ltd. Industrial Capital Goods 1.66% Bank of Baroda Banks 1.63% Mahindra & Mahindra Ltd. Auto 1.52% HCL Technologies Ltd. Software 1.50% NMDC Ltd. Minerals/Mining 1.16% Vedanta Ltd. Non - Ferrous Metals 1.11% Cadila Healthcare Ltd. Pharmaceuticals 1.10% Hindustan Zinc Ltd. Non - Ferrous Metals 1.04% Adani Ports and Special Economic Zone Ltd. Transportation 0.96% Total 97.61% CBLO / Reverse Repo Investments 10.00% Total 10.00% Net Receivable/Payable -7.61% Total -7.61% Pharmaceuticals Minerals/Mining Software Industrial Capital Goods Media & Entertainment Cash & Equivalent Auto Ancillaries Transportation Telecom - Services Ferrous Metals Finance Gas Project Auto Non - Ferrous Metals Petroleum Products Non Cement Banks 1.10% 1.16% 1.50% 1.66% 2.16% 2.39% 2.44% 2.82% 3.22% 3.71% 4.21% 4.56% 5.10% 8.09% 8.16% 8.19% 9.16% 9.50% 20.87% 3.23% Plan B (Direct) 2.16% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no *For Disclaimer please refer page no free rate (FBIL Overnight MIBOR) 6.20% 8

9 Baroda Pioneer Banking and Financial Services Fund An Open Ended Sectoral Scheme Investors understand that their principal will be at High risk Capital appreciation over long term Investment predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector The investment objective is to generate long-term capital appreciation for unit holders from a invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector. Type of Scheme An Open Ended Sectoral Scheme Date of Allotment June 22, 2012 Fund Manager # Mr. Dipak Acharya (Experience 13 yrs) Benchmark Nifty Bank Index* Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Exit Load % if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units Option SIP (Minimum) A. Growth Option (default option in case no option specified by ; B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option C. Bonus Option $ 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 29 DECEMBER 2017 Standard deviation 17.87% 0.13 Beta 0.92 Portfolio Turnover (last 12 months) 1.19 V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Bonus Growth Dividend Bonus 3.15% Plan B (Direct) 2.49% EQUITY & EQUITY RELATED % to Net HDFC Bank Ltd. Banks 23.47% ICICI Bank Ltd. Banks 10.87% Yes Bank Ltd. Banks 9.78% Bharat Financial Inclusion Ltd. Finance 9.55% State Bank of India Banks 8.14% Kotak Mahindra Bank Ltd. Banks 6.63% The Federal Bank Ltd. Banks 3.47% Mahindra & Mahindra Finance 3.39% Financial City Union Bank Ltd. Banks 3.01% Axis Bank Ltd. Banks 2.69% Bank of Baroda Banks 2.69% Bajaj Finserv Ltd. Finance 2.50% Cholamandalam Investment Finance 2.33% and Finance Company Ltd. IIFL Holdings Ltd. Finance 1.75% Shriram Transport Finance Finance 1.41% Company Ltd. The Karnataka Bank Ltd. Banks 1.36% Central Depository Finance 1.28% Services (I) Ltd. The South Indian Bank Ltd. Banks 1.11% The Jammu & Kashmir Banks 1.03% Bank Ltd. Union Bank of India Banks 0.98% Syndicate Bank Banks 0.68% Karur Vysya Bank Ltd. Banks 0.38% Total 98.50% CBLO / Reverse Repo Investments 2.02% Total 2.02% Net Receivable/Payable -0.52% Total -0.52% /Ratings Cash & Equivalent 1.50% Finance 22.21% Banks 76.29% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no *For Disclaimer please refer page no free rate (FBIL Overnight MIBOR) 6.20% 9

10 Baroda Pioneer Balance Fund An Open Ended Balanced Scheme Investors understand that their principal will be at Moderately High risk Capital appreciation along with stability over long term Investment predominantly in equity and equity related instruments with balance exposure to money market instruments and debt securities. The scheme is targeted for long-term capital appreciation along with stability through a well balanced comprising of equity, equity related instruments, money market instrument and debt securities. Type of Scheme An Open Ended Balanced Scheme Date of Allotment September 12, 2003 Fund Manager # Mr. Sanjay Chawla & (Experience 29 yrs) Mr. Dipak Acharya (Experience 13 yrs) Benchmark CRISIL Balanced Fund Aggressive index (effective April 4, 2016) Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 1% if redeemed on or before 12 months from the date of allotment of units, Nil if redeemed after 12 months from the date of allotment of units Option A. Growth Option (default option in case no option specified by ; B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option C. Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Risk profile 29 DECEMBER 2017 Standard deviation 10.94% 0.53 Beta 1.08 Portfolio Turnover (last 12 months) 1.47 V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Bonus Growth Dividend % Plan B (Direct) 1.22% % to Net EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 5.32% Maruti Suzuki India Ltd. Auto 3.32% Kansai Nerolac Paints Ltd. Non 2.78% Yes Bank Ltd. Banks 2.51% Mahindra & Mahindra Financial Finance 2.38% ICICI Bank Ltd. Banks 2.26% Hindalco Ltd. Non - Ferrous Metals 2.26% Tata Steel Ltd. Ferrous Metals 2.08% Ambuja Cements Ltd. Cement 2.06% The Federal Bank Ltd. Banks 2.06% Cholamandalam Investment and Finance Company Ltd. Finance 1.97% Bata India Ltd. 1.91% Pidilite Ltd. Chemicals 1.88% NBCC (India) Ltd. 1.87% Motherson Sumi Systems Ltd. Auto Ancillaries 1.87% Petronet LNG Ltd. Gas 1.83% Whirlpool of India Ltd. 1.81% GAIL (India) Ltd. Gas 1.80% KEC International Ltd. Project 1.78% Indraprastha Gas Ltd. Gas 1.59% Container Corporation of India Ltd. Transportation 1.57% WABCO India Ltd. Auto Ancillaries 1.53% Carborundum Universal Ltd. Industrial Products 1.50% Security and Intelligence Services (I) Ltd. Commercial Services 1.39% Bharat Financial Inclusion Ltd. Finance 1.33% Rallis India Ltd. Pesticides 1.32% Bharti Airtel Ltd. Telecom - Services 1.31% Bajaj Finserv Ltd. Finance 1.29% Bharat Forge Ltd. Industrial Products 1.25% State Bank of India Banks 1.17% Bajaj Electricals Ltd. 1.13% Ashok Leyland Ltd. Auto 1.13% Shriram Transport Finance Company Ltd. Finance 1.12% Supreme Ltd. Industrial Products 1.10% Apollo Tyres Ltd. Auto Ancillaries 1.09% City Union Bank Ltd. Banks 1.02% Central Depository Services (I) Ltd. Finance 1.02% The South Indian Bank Ltd. Banks 0.71% MRF Ltd. Auto Ancillaries 0.69% Grasim Ltd. Cement 0.66% Larsen & Toubro Ltd. Project 0.55% NMDC Ltd. Minerals/Mining 0.52% Emami Ltd. Non 0.51% HCL Technologies Ltd. Software 0.51% Hindustan Zinc Ltd. Non - Ferrous Metals 0.44% GMR Infrastructure Ltd. Project 0.34% Syndicate Bank Banks 0.18% Total 71.72% CENTRAL GOVERNMENT SECURITIES 07.61% CGL 2030 Sovereign 0.95% % to Net 07.88% CGL 2030 Sovereign 0.35% 08.24% CGL 2027 Sovereign 0.26% 08.83% CGL 2023 Sovereign 0.10% 08.60% CGL 2028 Sovereign 0.02% 08.28% CGL 2027 Sovereign 0.02% Total 1.70% STATE GOVERNMENT SECURITIES 09.72% SDL 2023 Sovereign 0.62% Total 0.62% BONDS & NCDs HDFC Bank Ltd. CRISIL AA+ 3.80% ICICI Bank Ltd. [ICRA]AA+ 2.87% Yes Bank Ltd. [ICRA]AA 2.77% Bank of Baroda CRISIL AA+ 2.62% PNB Housing Finance Ltd. IND AAA 2.07% Edelweiss Commodities CARE AA 1.92% Indian Railway Finance CRISIL AAA 1.89% Vijaya Bank [ICRA]AA- 0.96% Dewan Housing Finance BWR AAA 0.39% Total 19.29% Unlisted IIFL Wealth Finance Ltd. [ICRA]AA 1.95% Total 1.95% CBLO / Reverse Repo Investments 3.87% Total 3.87% Net Receivable/Payable 0.85% Total 0.85% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. BWR AAA Software Minerals/Mining [ICRA]AA- Telecom - Services Pesticides Commercial Services Transportation Chemicals CRISIL AAA CARE AA IND AAA Ferrous Metals Sovereign Project Non - Ferrous Metals Cement [ICRA]AA+ Non Industrial Products Auto [ICRA]AA Cash & Equivalent Auto Ancillaries Gas CRISIL AA+ Finance Banks /Ratings 0.39% 0.51% 0.52% 0.96% 1.31% 1.32% 1.39% 1.57% 1.87% 1.88% 1.89% 1.92% 2.07% 2.08% 2.32% 2.67% 2.70% 2.72% 2.87% 3.29% 3.85% 4.45% 4.72% 4.72% 4.85% 5.18% 5.22% 6.42% 9.11% 15.23% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no free rate (FBIL Overnight MIBOR) 6.20% & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1,

11 Baroda Pioneer Monthly Income Plan (MIP) Fund An Open Ended Income Scheme with no assured returns. (Monthly income is not assured and is subject to the availability of distributable surplus.) Investors understand that their principal will be at Moderate risk Regular Income and capital appreciation over medium term with providing liquidity Investment in debt and money market instruments and in equity and equity related instruments. To generate regular income through investment in debt and money market instruments and also to generate longterm capital appreciation by investing a portion in equity and equity related instruments. Type of Scheme An Open Ended Income Scheme with no assured returns. Date of Allotment September 08, 2004 Fund Manager Ms. Hetal Shah # (Experience 15 yrs) Benchmark CRISIL MIP Blended Index Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load NIL Options Growth (default option in case no option specified by ; Monthly Dividend (default) 1. Payout 2. Reinvestment (default sub-option Quarterly Dividend 1. Payout 2. Reinvestment (default sub-option Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend - Monthly Dividend - Quarterly Growth Dividend - Monthly Dividend - Quarterly Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 6.05 Portfolio Yield (%) % Plan B (Direct) 1.37% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no % to Net EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 1.42% MRF Ltd. Auto Ancillaries 1.37% Kansai Nerolac Paints Ltd. Non 1.20% ICICI Bank Ltd. Banks 1.19% Mahindra & Mahindra Financial Finance 1.16% Hindalco Ltd. Non - Ferrous Metals 1.03% Britannia Ltd. Non 0.89% GAIL (India) Ltd. Gas 0.76% Maruti Suzuki India Ltd. Auto 0.74% Tata Steel Ltd. Ferrous Metals 0.69% Pidilite Ltd. Chemicals 0.68% BEML Ltd. Industrial Capital Goods 0.61% Carborundum Universal Ltd. Industrial Products 0.57% Ashok Leyland Ltd. Auto 0.54% Can Fin Homes Ltd. Finance 0.54% Apollo Tyres Ltd. Auto Ancillaries 0.53% NMDC Ltd. Minerals/Mining 0.52% Bharti Airtel Ltd. Telecom - Services 0.50% National Aluminium Non - Ferrous Company Ltd. Metals 0.49% Nestle India Ltd. Non 0.45% Gujarat State Fertilizers & Chemicals Ltd. Fertilisers 0.44% PC Jeweller Ltd. 0.43% Petronet LNG Ltd. Gas 0.39% IIFL Holdings Ltd. Finance 0.38% Container Corporation of India Ltd. Transportation 0.37% Yes Bank Ltd. Banks 0.36% Ambuja Cements Ltd. Cement 0.31% Rallis India Ltd. Pesticides 0.30% The Federal Bank Ltd. Banks 0.29% Tata Sponge Iron Ltd. Ferrous Metals 0.28% Total 19.43% CENTRAL GOVERNMENT SECURITIES 06.68% CGL 2031 Sovereign 17.70% 08.60% CGL 2028 Sovereign 12.16% 07.61% CGL 2030 Sovereign 11.33% 07.88% CGL 2030 Sovereign 9.66% 07.59% CGL 2026 Sovereign 3.82% 08.24% CGL 2027 Sovereign 1.97% 07.59% CGL 2029 Sovereign 1.89% Total 58.53% BONDS & NCDs IndusInd Bank Ltd. CRISIL AA 3.81% Tata Capital Financial [ICRA]AA+ 3.75% India Infoline Housing Finance Ltd. [ICRA]AA 3.03% IIFL Facilities [ICRA]AA 2.46% % to Net Power Grid Corporation of India Ltd. CRISIL AAA 2.37% Total 15.42% CBLO / Reverse Repo Investments 3.22% Total 3.22% Net Receivable/Payable 3.40% Total 3.40% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. Pesticides Cement Transportation Fertilisers Telecom - Services Minerals/Mining Industrial Products Industrial Capital Goods Chemicals Ferrous Metals Gas Auto Non - Ferrous Metals Auto Ancillaries Finance CRISIL AAA Non Banks [ICRA]AA+ CRISIL AA [ICRA]AA Cash & Equivalent Sovereign 15.42% 19.43% Rating Profile 0.30% 0.31% 0.37% 0.43% 0.44% 0.50% 0.52% 0.57% 0.61% 0.68% 0.97% 1.15% 1.28% 1.52% 1.90% 2.08% 2.37% 2.54% 3.26% 3.75% 3.81% 5.49% 6.62% instruments 58.53% 3.40% 3.22% CENTRAL GOVERNMENT SECURITIES EQUITY & EQUITY RELATED BONDS & NCDs Cash & Cash Equivalents CBLO / Reverse Repo 58.53% Investments

12 Baroda Pioneer Credit Opportunities Fund An Open Ended Debt Scheme Investors understand that their principal will be at Moderate risk Income over medium term. Investment in a mix of debt and money market instruments across the credit and maturity spectrum. The primary objective of the Scheme is to generate returns by investing in debt and money market instruments across the credit spectrum. There is no assurance or guarantee that the investment objective of the Scheme will be realized. Type of Scheme An Open Ended Debt Scheme Date of Allotment January 23, 2015 Fund Manager Mr. Alok Sahoo # (Experience 17 yrs), Mr. Karn Kumar & (Experience 13 yrs) Benchmark CRISIL Short Term Bond Fund Index Monthly Average Crs AUM () Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load If units are redeemed upto 10% of the units, on or before one year from the date of allotment : Nil If units are redeemed over and above the 10% limit, on or before one year from the date of allotment : 1% of the applicable Net Asset Value (V) If units are redeemed after one year from the date of allotment : Nil Options Growth (default option in case no option specified by ; Monthly Dividend 1.Payout 2.Reinvestment (default suboption Quarterly Dividend 1.Payout 2.Reinvestment (default suboption Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 2.13 Portfolio Yield (%) % Plan B (Direct) 0.80% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds, if any, managed by the said Fund manager, either individually or jointly, please refer page no & Mr. Karn Kumar is managing the Scheme along with Mr. Alok Sahoo effective July 24, % to Net MONEY MARKET INSTRUMENT Commercial Paper** Peninsula Land Ltd. [ICRA]A1 6.43% Adani Enterprises Ltd. BWR A % Total 9.13% CENTRAL GOVERNMENT SECURITIES 06.68% CGL 2031 Sovereign 1.02% 08.40% CGL 2024 Sovereign 0.34% 07.61% CGL 2030 Sovereign 0.11% Total 1.47% BONDS & NCDs Piramal Enterprises Ltd. [ICRA]AA 7.64% Apollo Hospitals Enterprise Ltd. CRISIL AA 7.51% Edelweiss Commodities [ICRA]AA 6.10% Aspire Home Finance [ICRA]AA- 5.68% IndusInd Bank Ltd. CRISIL AA 4.95% Dewan Housing Finance BWR AAA 4.37% IIFL Facilities [ICRA]AA 4.20% India Infoline Housing Finance Ltd. CRISIL AA 3.90% Edelweiss Housing Finance Ltd. [ICRA]AA 2.86% Edelweiss Commodities CARE AA 2.77% ICICI Bank Ltd. [ICRA]AA+ 2.76% Indiabulls Housing Finance Ltd. BWR AAA 2.24% Indiabulls Housing Finance Ltd. CARE AAA 1.66% Indian Railway Finance CRISIL AAA 1.24% Bank of Baroda CRISIL AA+ 1.18% Edelweiss Asset Reconstruction Company Ltd. [ICRA]AA 1.10% HDFC Bank Ltd. CRISIL AA+ 1.09% Yes Bank Ltd. [ICRA]AA 1.07% Janalakshmi Financial [ICRA]A- 0.65% JSW Steel Ltd. CARE AA- 0.56% Bank of Baroda CARE AA 0.11% Total 63.64% Unlisted ARM Infra & Utilities Private Ltd. BWR A1+ (SO) 6.52% IIFL Wealth Finance Ltd. [ICRA]AA 4.49% Cyquator Media Services BWR A1+ (SO) 4.37% Private Ltd. Janalakshmi Financial [ICRA]A- 1.92% Powergrid Vizag CRISIL AAA 1.12% Transmission Ltd. (SO) Total 18.42% Investment Funds/Mutual Funds Baroda Pioneer Liquid Fund - [ICRA]A1+mfs 3.28% Plan B (Direct) - Growth Option Total 3.28% CBLO /Reverse Repo investments 1.39% Total 1.39% Net Receivable/Payable 2.67% Total 2.67% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. CRISIL AAA (SO) Cash & Equivalent 9.13% 18.42% CRISIL AAA Sovereign CARE AAA CRISIL AA+ [ICRA]AA- [ICRA]A- BWR A1+ [ICRA]AA+ CARE AA [ICRA]A1+mfs [ICRA]A1 BWR AAA BWR A1+ (SO) CRISIL AA [ICRA]AA 2.67% 1.47% 1.39% 3.28% Rating Profile 0.56% 1.12% 1.24% 1.47% 1.66% 2.27% 2.57% 2.70% 2.76% 2.88% 3.28% 4.06% 5.68% 6.43% 6.61% 10.89% CARE AAinstruments 63.64% 16.36% 27.46% BONDS & NCDs Unlisted MONEY MARKET INSTRUMENT Investment Funds/Mutual Funds Cash & Cash Equivalents CENTRAL GOVERNMENT SECURITIES CBLO /Reverse Repo Investments V AS ON 29 DECEMEBER 2017 V (Per Unit) Bonus Growth Dividend - Quarterly Dividend - Monthly Bonus Growth Dividend - Quarterly Dividend - Monthly

13 Baroda Pioneer Gilt Fund An Open Ended Gilt Scheme Investors understand that their principal will be at Moderate risk Credit risk free regular Income over long term Investment only in Government (both Central and State Government) Securities To generate income by investing in a of Government securities. Type of Scheme An Open Ended Gilt Scheme Date of Allotment March 21, 2002 Fund Manager Ms. Hetal Shah # (Experience 15 yrs) Benchmark I SEC-MI BEX Monthly Average Crs AUM () Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 0.25% if redeemed on or before 1 month (30 days) from the date of allotment of units. Nil if redeemed after 1 month (30 days) from the date of allotment of units Options Growth (default option in case no option specified by ; Dividend 1.Payout 2.Reinvestment (default suboption Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 5.61 Portfolio Yield (%) % Plan B (Direct) 1.16% % to Net CENTRAL GOVERNMENT SECURITIES 07.59% CGL 2029 Sovereign 17.13% 07.61% CGL 2030 Sovereign 13.13% 06.68% CGL 2031 Sovereign 10.26% 07.88% CGL 2030 Sovereign 9.99% 08.24% CGL 2027 Sovereign 7.32% 08.28% CGL 2027 Sovereign 5.51% 08.83% CGL 2023 Sovereign 2.82% 08.60% CGL 2028 Sovereign 1.64% 07.59% CGL 2026 Sovereign 1.11% Total 68.91% STATE GOVERNMENT SECURITIES 09.39% SDL 2023 Sovereign 5.91% Total 5.91% CBLO / Reverse Repo Investments 22.20% Total 22.20% Net Receivable/Payable 2.98% Total 2.98% Cash & Equivalent 22.20% Sovereign rating profile 25.18% instruments 68.91% 74.82% 5.91% 2.98% CENTRAL GOVERNMENT SECURITIES CBLO / Reverse Repo Investments STATE GOVERNMENT SECURITIES Cash & Cash Equivalents $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no

14 Baroda Pioneer Income Fund An Open Ended Income Scheme Investors understand that their principal will be at Moderate risk Regular Income over long term Investment predominantly in good quality Fixed Income Securities by maintaining a balance between Risk & Return. To generate regular income by investing in a of good quality Fixed Income Securities by maintaining a balance between Risk & Return. Type of Scheme An Open Ended Income Scheme Date of Allotment March 21, 2002 Fund Manager Ms. Hetal Shah # (Experience 15 yrs) Benchmark CRISIL Composite Bond Fund Index Monthly Average AUM Crs () Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load If units are redeemed upto 10% of the units, on or before one year from the date of allotment : Nil If units are redeemed over and above the 10% limit, on or before one year from the date of allotment : 1% of the applicable Net Asset Value (V) If units are redeemed after one year from the date of allotment : Nil Options Growth (default option in case no option specified by ; Dividend 1.Payout 2.Reinvestment (default suboption Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic % to Net CENTRAL GOVERNMENT SECURITIES 07.59% CGL 2026 Sovereign 11.53% 08.40% CGL 2024 Sovereign 9.60% 07.88% CGL 2030 Sovereign 9.34% 08.83% CGL 2023 Sovereign 8.83% 08.60% CGL 2028 Sovereign 4.41% 07.59% CGL 2029 Sovereign 2.29% Total 46.00% STATE GOVERNMENT SECURITIES 09.35% SDL 2024 Sovereign 3.72% 08.58% SDL 2023 Sovereign 3.37% 09.39% SDL 2023 Sovereign 2.13% 08.60% SDL 2023 Sovereign 0.64% Total 9.86% BONDS & NCDs IndusInd Bank Ltd. CRISIL AA 9.20% Edelweiss Commodities Dewan Housing Finance Indian Railway Finance [ICRA]AA 9.11% BWR AAA 8.37% CRISIL AAA 8.22% Total 34.90% CBLO / Reverse Repo Investments 6.90% Total 6.90% Net Receivable/Payable 2.34% Total 2.34% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. CRISIL AAA BWR AAA [ICRA]AA CRISIL AA Cash & Equivalent Sovereign rating profile 8.22% 8.37% 9.11% 9.20% 9.24% instruments 55.86% 46.00% 6.90% 2.34% CENTRAL GOVERNMENT 9.86% SECURITIES BONDS & NCDs STATE GOVERNMENT SECURITIES CBLO / Reverse Repo Investments Cash & Cash 34.90% Equivalents Average Maturity (Days) Modified Duration (Years) 4.73 Portfolio Yield (%) % Plan B (Direct) 1.88% $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no

15 Baroda Pioneer Dynamic Bond Fund An Open Ended Income Scheme Investors understand that their principal will be at Moderate risk Regular Income over medium term with providing liquidity Investment in medium to long term corporate bonds and / or government securities and manage the dynamically through different interest rate cycles The investment objective of the scheme is to generate returns with liquidity by managing the dynamically through interest rate cycles. Type of Scheme Date of Allotment June 30, 2012 An Open Ended Income Scheme Fund Manager Mr. Alok Sahoo # (Experience 17 yrs), Ms. Hetal Shah # (Experience 15 yrs) Benchmark CRISIL Composite Bond Fund Index Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load Options 0.50% if redeemed within 3 months from the date of allotment of units, Nil if redeemed after 3 months from the date of allotment of units Growth (default option in case no option specified by ; Dividend 1. Payout 2. Reinvestment (default sub-option Bonus Option $ SIP (Minimum) 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 3.63 Portfolio Yield (%) % Plan B (Direct) 1.09% % to Net CENTRAL GOVERNMENT SECURITIES 08.28% CGL 2027 Sovereign 12.37% 08.83% CGL 2023 Sovereign 7.60% 07.59% CGL 2029 Sovereign 5.68% 07.59% CGL 2026 Sovereign 4.76% 08.60% CGL 2028 Sovereign 1.52% Total 31.93% STATE GOVERNMENT SECURITIES 09.72% SDL 2023 Sovereign 10.30% Total 10.30% BONDS & NCDs Dewan Housing Finance BWR AAA 9.61% Indian Railway Finance CRISIL AAA 8.49% Janalakshmi Financial [ICRA]A- 8.47% IndusInd Bank Ltd. CRISIL AA 4.75% Total 31.32% CBLO / Reverse Repo Investments 24.41% Total 24.41% Net Receivable/Payable 2.04% Total 2.04% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. CRISIL AA [ICRA]A- CRISIL AAA BWR AAA Cash & Equivalent Sovereign rating profile 4.75% 8.47% 8.49% 9.61% instruments 26.45% 42.23% 10.30% 24.41% 2.04% 31.93% CENTRAL GOVERNMENT SECURITIES BONDS & NCDs CBLO/Reverse Repo Investments STATE GOVERNMENT SECURITIES Cash & Cash 31.32% Equivalents $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no

16 Baroda Pioneer Short Term Bond Fund An Open Ended Income Scheme Investors understand that their principal will be at Moderately Low risk Regular Income over short term Investment predominantly in Money Market Instruments (i.e. CP/CD) and Short Term Debt Market Instruments The objective of the Scheme is to generate income from a constituted of short term debt and money market securities. Type of Scheme An Open Ended Income Scheme Date of Allotment June 30, 2010 Fund Manager Mr. Alok Sahoo # (Experience 17 yrs), Ms. Hetal Shah # (Experience 15 yrs) Benchmark CRISIL Short Term Bond Fund Index Monthly Average AUM () Crs Month end AUM () Crs Minimum Investment 5,000/- & in multiples of 1/- Exit Load 0.25% if redeemed on or before 15 days from the date of allotment of units. Nil if redeemed after 15 days from the date of allotment of units Options SIP (Minimum) Growth (default option in case no option specified by ; Monthly Dividend^ 1. Payout 2. Reinvestment (default sub-option Quarterly Dividend^ 1. Payout 2. Reinvestment (default sub-option 500/month - 12 Installments 1500/quarter - 4 Installments V AS ON 29 DECEMEBER 2017 V (Per Unit) Growth Dividend Growth Dividend Portfolio characteristic Average Maturity (Days) Modified Duration (Years) 1.57 Portfolio Yield (%) % Plan B (Direct) 0.57% MONEY MARKET INSTRUMENT Commercial Paper** % to Net Peninsula Land Ltd. [ICRA]A1 1.83% Total 1.83% BONDS & NCDs Piramal Enterprises Ltd. [ICRA]AA 9.29% Indiabulls Housing Finance Ltd. CARE AAA 8.05% Power Finance CRISIL AAA 7.92% Manappuram Finance Ltd. CRISIL AA- 7.54% Dewan Housing Finance BWR AAA 6.74% L&T Finance Ltd. [ICRA]AA+ 6.62% Tata Capital Financial [ICRA]AA+ 6.32% PNB Housing Finance Ltd. IND AAA 6.32% Edelweiss Commodities CARE AA 5.93% Housing Development Finance CRISIL AAA 5.36% Edelweiss Commodities [ICRA]AA 3.97% Edelweiss Asset Reconstruction Company Ltd. [ICRA]AA 3.48% Aspire Home Finance CRISIL A+ 2.41% Janalakshmi Financial [ICRA]A- 1.90% India Infoline Finance Ltd. [ICRA]AA 1.66% Aspire Home Finance [ICRA]AA- 1.09% Power Grid Corporation of India Ltd. CRISIL AAA 0.13% Total 84.73% Unlisted IIFL Wealth Finance Ltd. [ICRA]AA 6.82% Janalakshmi Financial [ICRA]A- 1.81% Total 8.63% CBLO / Reverse Repo Investments 0.60% Total 0.60% Net Receivable/Payable 4.21% Total 4.21% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. rating profile Cash & Equivalent 8.63% [ICRA]A1 CRISIL A+ CARE AA IND AAA BWR AAA CARE AAA [ICRA]AA+ CRISIL AAA [ICRA]AA 4.21% 1.83% 0.60% 1.09% 1.83% 2.41% 3.71% 4.81% 5.93% 6.32% 6.74% 7.54% 8.05% CRISIL AA- [ICRA]A- [ICRA]AAinstruments 84.73% 12.94% 13.41% 25.22% BONDS & NCDs Unlisted Cash & Cash Equivalents MONEY MARKET INSTRUMENT CBLO / Reverse Repo Investments ^ The Dividend Option has been renamed as Monthly Dividend Option and a Quarterly Dividend Option has been introduced effective December 23, $ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no