Q U A R T E R L Y F A C T S H E E T J U N E Schemes - Product Labeling

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1 TIMES Q U A R T E R L Y F A C T S H E E T J U N E Schemes - Product Labeling Name of the Scheme This product is suitable for Investors who are seeking* Riskometer Taurus Starshare An open - ended equity growth scheme Taurus Bonanza Fund An open - ended equity growth scheme Taurus Discovery Fund An open - ended equity growth scheme Taurus Nifty Index Fund An open - ended index linked equity scheme Long term capital appreciation Investment in equity & equity related instruments - multi-cap in nature Long term capital appreciation Investment in equity & equity related instruments - focus on large cap stocks Long term capital appreciation Investment in equity & equity related instruments through price discovery mechanism-mid cap in nature Long term capital appreciation Investment in equity securities by replicating Nifty 50 Taurus Tax Shield Long term capital appreciation An open - ended equity linked tax saving scheme Investment in equity & equity related instruments Taurus Ethical Fund An open - ended equity oriented scheme Taurus Infrastructure Fund An open - ended equity thematic scheme Taurus Banking & Financial Services Fund An open - ended sectoral equity scheme Taurus Dynamic Income Fund An open - ended income scheme Long term capital appreciation Investment in equity & equity related instruments based on the principles of Shariah Long term capital appreciation Investment in equity & equity related instruments of companies from Infrastructure Sector Long term capital appreciation Investment in equity & equity related instruments of companies from Banking & Financial sector Long term capital appreciation and current income with high liquidity Investment in Debt/ Money Market Instruments Low LOW Low Moderately Moderate Moderately High High HIGH Investors understand that their principal will be at moderately high risk Low LOW Low Moderately Moderate Moderately High HIGH Investors understand that their principal will be at high risk Low Moderately Moderate Moderately High High Low High LOW HIGH Investors understand that their principal will be at moderate risk Taurus Short Term Income Fund An open - ended bond scheme Medium term capital appreciation and current income with low volatility Investment in Debt/Money Market Instruments Low Moderately Moderate Moderately High Taurus Ultra Short Term Bond Fund An open - ended debt scheme Taurus Liquid Fund An open - ended liquid scheme Short term capital appreciation and current income with high liquidity & low volatility Investment in Debt/ Money Market Instruments Short term capital appreciation & current income with low risk & high liquidity Investment in Money Market Instruments /Short Term Debt Instruments upto a maturity of 91 days. Low LOW HIGH Investors understand that their principal will be at moderately low risk Low Moderately Moderate Moderately High High Low High LOW HIGH 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. Mutual Fund investments are subject to market risks, read all scheme related documents carefully

2 FROM THE INVESTMENT DESK Dear Friends, After 10 years of effort, India's new goods and services tax (GST) has taken effect on 1 July 2017, ushering in one of the most significant reforms in the country's history. This major reform opens a new chapter for India in terms of economic growth prospects, way of doing business and most importantly strengthening the formal economy and increasing the tax base of the country. The timing of the GST implementation in India could not have been better as inflation is under control, the Indian Rupee is stable, and digitization thrust is at its peak. GST would broaden the formal economy and increase the tax base in the country, directing the Governments focus in infrastructure development and easing Government control across sectors. Demonetization just before the GST implementation will now be seen as blessing in disguise as awareness of digitization increased even among the smaller businesses. India is set to climb up in ease of doing business ranking now. Infact the countries participating in the G20 Summit have praised the Indian government for its efforts in the areas of startup funding, ease of doing business and labour reforms. Even rating-agency Moody's said that over the medium term, GST will contribute to productivity gains and a higher GDP growth, thus boosting India's attractiveness as an investment destination. We feel all this may improve India's credit profile, sooner than later. GST is expected to have a benign impact on inflation and is expected to boost GDP by 1-2% in the long run with some short term disruption. Over the years, corporate India has postponed private investment in core sectors. We strongly believe that GST is likely to be game changer for India as idled capacities are likely to be rekindled giving operating leverage to companies and fresh capacities are likely to be added across sectors as the share of organized sector increases. Indian market is likely to remain volatile in the short to medium term as sentiments would be driven by hostile situations prevailing near Indo-China border and North Korea's Inter Ballistic Missile tests. Also, GST may distort earnings in the short term, may be a quarter, which may compel investors to remain on the sidelines. However, we strongly believe, against consensus belief, that the GST is likely to get absorbed sooner as businesses cannot do away with it, but to adopt it. Also, satisfactory monsoon progress and strong liquidity flows may absorb corrections in the market. On the Global front, macros appears to be improving supported by manufacturing activity, global trade growth and rising property prices in the major economies. Uneasiness amid the apparent shift among global central banks to a more-hawkish stance hampered the market sentiments. On geopolitics, situation in both Middle East and Korean peninsula remains fluid. Happy Investing! Prasanna Pathak Fund Manager - Equity

3 HOUSE OF TAURUS INDEX Page No. 1 TAURUS STARSHARE...1 (AN OPEN-ENDED EQUITY SCHEME WITH A FOCUS ON MULTI CAP STOCKS) 2 TAURUS ETHICAL FUND...2 (AN OPEN-ENDED EQUITY ORIENTED SCHEME) 3 TAURUS INFRASTRUCTURE FUND...3 (AN OPEN-ENDED EQUITY THEMATIC SCHEME) 4 TAURUS TAX SHIELD...4 (AN OPEN-ENDED EQUITY LINKED SAVING SCHEME (ELSS)) 5 TAURUS NIFTY INDEX FUND...5 (AN OPEN-ENDED INDEX LINKED EQUITY SCHEME) 6 TAURUS BONANZA FUND...6 (AN OPEN-ENDED EQUITY SCHEME WITH A LARGE CAP FOCUS) 7 TAURUS DISCOVERY FUND...7 (AN OPEN-ENDED EQUITY FUND WITH MID CAP AND SMALL CAP FOCUS) 8 TAURUS BANKING & FINANCIAL SERVICES FUND...8 (AN OPEN-ENDED SECTORAL EQUITY SCHEME) 9 TAURUS ULTRA SHORT TERM BOND FUND...9 (AN OPEN-ENDED DEBT SCHEME) 10 TAURUS LIQUID FUND...10 (AN OPEN-ENDED LIQUID SCHEME) 11 TAURUS SHORT TERM INCOME FUND...11 (AN OPEN-ENDED BOND SCHEME) 12 TAURUS DYNAMIC INCOME FUND...12 (AN OPEN-ENDED INCOME SCHEME)

4 TAURUS STARSHARE - (AN OPEN-ENDED EQUITY SCHEME WITH A FOCUS ON MULTI CAP STOCKS) SCHEME FEATURES Investment Objective The basic objective of the Scheme is to provide long-term capital appreciation. Emphasis will be on sharing growth through appreciation as well as on distribution of income by way of dividend. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment January 29, 1994 Benchmark S&P BSE 200 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.5% if exited on or before 180 days Nil if exited after 180 days Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: `72.78 (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 2.56% Direct Plan: 2.42% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.54 Standard Deviation: Beta: 1.16 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 0.90 Fund Manager's Comment: Scheme will remain oriented towards absolute ideas to generate its Alpha returns in the portfolio and it remains positive on themes like financial inclusion, formalization of economy, housing for all, agriculture and rural economy plays and increased government spend. Scheme will try to maintain a judicious blend of high quality large cap and mid-cap stocks. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets HDFC Bank Ltd ITC Ltd Reliance Industries Ltd ICICI Bank Ltd Housing Development Finance Corporation Ltd Maruti Suzuki India Ltd Godrej Industries Ltd Larsen & Toubro Ltd Aditya Birla Nuvo Ltd Motherson Sumi Systems Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 2.02 Total DIVIDEND HISTORY Banks Consumer Non Durables Finance Auto Software Petroleum Products Cement Chemicals Construction Project Gas Services Auto Ancillaries Industrial Capital Goods Power Hotels, Resorts And Other Recreational Activities Ferrous Metals Fertilisers Transportation Minerals/Mining Construction Pharmaceuticals Month & Year Regular Plan Direct Plan Gross Dividend per unit(`) Gross Dividend Per unit(`) June May Pursuant to payment of dividend, the NAV of the Scheme will fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to ww.taurusmutualfund.com Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June 2017

5 TAURUS ETHICAL FUND - (AN OPEN-ENDED EQUITY ORIENTED SCHEME) SCHEME FEATURES Investment Objective To provide capital appreciation and income distribution to unitholders through investment in a diversified portfolio of equities, which are based on the principles of Shariah. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment April 6, 2009 Benchmark S&P BSE 500 Shariah Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.5% if exited on or before 180 days Nil if exited after 180 days Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) (B) per unit. Direct Plan: ` (D), (G) (B) per unit. Note : Bonus option discontinued for fresh / additional subscription w.e.f. 15/06/2015 NAV Calculation: All Business days. Expense Ratio: Regular Plan: 2.69% Direct Plan: 1.94% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.61 Standard Deviation: Beta: 1.02 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 1.18 Fund Manager's Comment: Portfolio composition has decisively moved towards absolute ideas with growth tailwinds. Portfolio is underweight in Pharma and IT sector while being overweight in Oil and Gas, Consumption and Capital Goods. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION DIVIDEND HISTORY The scheme has not declared any dividend in last three months % to Net Assets Maruti Suzuki India Ltd Motherson Sumi Systems Ltd Petronet LNG Ltd Indraprastha Gas Ltd Tata Consultancy Services Ltd Infosys Ltd Gujarat State Petronet Ltd Container Corporation of India Ltd The Ramco Cements Ltd Ultratech Cement Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 2.48 Total Gas Software Cement Consumer Non Durables Auto Ancillaries Industrial Products Auto Transportation Industrial Capital Goods Pesticides Consumer Durables Chemicals Telecom - Equipment & Accessories Finance Pharmaceuticals Healthcare Services Textile Products Commercial Services Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June

6 TAURUS INFRASTRUCTURE FUND - (AN OPEN-ENDED EQUITY THEMATIC SCHEME) SCHEME FEATURES Investment Objective To provide capital appreciation and income distribution to unitholders by investing predominantly in equity and equity related securities of the companies belonging to infrastructure sector, it's related industries inclusive of suppliers of capital goods, raw materials and other supportive services to infrastructure companies and balance in debt and money market instruments. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment March 5, 2007 Benchmark S&P BSE 200 Monthly AUM Monthly Average AUM: ` 4.87 Cr. Month End AUM: ` 4.81 Cr. Load Structure Entry Load - NIL Exit Load - NIL Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: `20.65 (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 2.66% Direct Plan: 2.06% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.58 Standard Deviation: Beta: 1.13 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 1.31 Fund Manager's Comment: True to its mandate, the portfolio maintained its character for infrastructure themes. The recent effort in pushing massive infrastructure project has induced positive sentiments in the sector. The significant policy reforms in coal, gas, infrastructure and power sector is providing significant boost to the sector's future outlook. Infrastructure remains an important pillar of India growth story and we have strong conviction of its come back in near future. Sector has been under pressure since last few years due to multiple factors. We expect the sector to outperform in the coming times. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets Larsen & Toubro Ltd Power Grid Corporation of India Ltd Container Corporation of India Ltd Bharat Electronics Ltd ICICI Bank Ltd State Bank of India 4.00 Hindalco Industries Ltd Indraprastha Gas Ltd PTC India Ltd Ultratech Cement Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 3.22 Total Banks Power Gas Construction Project Industrial Products Industrial Capital Goods Cement Non - Ferrous Metals Ferrous Metals Transportation Petroleum Products Construction Pharmaceuticals Telecom - Equipment & Accessories Auto Ancillaries Fertilisers Minerals/Mining DIVIDEND HISTORY The scheme has not declared any dividend in last three months Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June 2017

7 TAURUS TAX SHIELD - (AN OPEN-ENDED EQUITY LINKED SAVING SCHEME (ELSS)) SCHEME FEATURES Investment Objective To provide long term capital appreciation over the life of the scheme through investment predominantly in equity shares, besides tax benefits. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment March 31, 1996 Benchmark S&P BSE 200 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Up to any amount (Including SIP) : NA (lock - in period of 3 years) Switch to any (Debt/Equity) schemes after 3 years; Exit Load : Nil. Minimum Application Amount: ` 500/- & multiples of ` 500/- thereafter. Liquidity Sale on all business days. As per Income Tax Laws, the redemption facility is available after a lock-in period of 3 years from the date of investment. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 2.67% Direct Plan: 2.27% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.70 Standard Deviation: Beta: 1.07 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 0.94 Fund Manager's Comment: The scheme will try to invest in emerging themes in the next few years and play it through a blend of mid-cap and large cap stocks. For example, the Indian government's ambitious target of doubling farm income by 2022 should benefit stocks in the rural theme. Similarly, GST will lead to formalisation of economy and benefit sectors where the share of unorganised players is higher. Again, government's 'Housing for All' project will benefit cement, building material players and Housing Finance companies. The scheme will try to construct a portfolio in-and-around such emerging themes. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets HDFC Bank Ltd ITC Ltd Maruti Suzuki India Ltd Housing Development Finance Corporation Ltd Reliance Industries Ltd ICICI Bank Ltd Larsen & Toubro Ltd L&T Finance Holdings Ltd NCC Ltd The Ramco Cements Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 2.07 Total Banks Finance Consumer Non Durables Auto Construction Project Auto Ancillaries Power Petroleum Products Cement Software Chemicals Pharmaceuticals Construction Non - Ferrous Metals Healthcare Services Fertilisers Minerals/Mining Gas Ferrous Metals Consumer Durables DIVIDEND HISTORY The scheme has not declared any dividend in last three months Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June

8 TAURUS NIFTY INDEX FUND - (AN OPEN-ENDED INDEX LINKED EQUITY SCHEME) SCHEME FEATURES Investment Objective The investment objective of the scheme is to replicate the S&P Nifty 50 by investing in securities of the Nifty 50 in the same proportion/ weightage. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment June 19, 2010 Benchmark Nifty 50 Monthly AUM Monthly Average AUM: ` 0.38 Cr. Month End AUM: ` 0.38 Cr. Load Structure Entry Load - NIL Exit Load - Up to any amount (Including SIP ) 0.5% if exited on or before 30 days. Nil if exited after 30 days Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 1.48% Direct Plan: 0.98% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.41 Standard Deviation: Beta: 0.99 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 1.21 Tracking Error : 0.66 Fund Manager's Comment: The index fund continues to track the performance of its benchmark indices Nifty. The fund portfolio consists of the stocks in the same weight as they are in the Nifty Index. The strategy of the investment is to mirror the index return by minimizing the tracking error with its benchmark. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION DIVIDEND HISTORY The scheme has not declared any dividend in last three months % to Net Assets HDFC Bank Ltd ITC Ltd Housing Development Finance Corporation Ltd Reliance Industries Ltd Infosys Ltd ICICI Bank Ltd Larsen & Toubro Ltd Tata Consultancy Services Ltd Kotak Mahindra Bank Ltd Maruti Suzuki India Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 2.53 Total Banks Software Consumer Non Durables Auto Petroleum Products Finance Pharmaceuticals Construction Project Power Cement Non - Ferrous Metals Telecom - Services Auto Ancillaries Oil Ferrous Metals Minerals/Mining Transportation Media & Entertainment Gas Telecom - Equipment & Accessories Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June 2017

9 TAURUS BONANZA FUND - (AN OPEN-ENDED EQUITY SCHEME WITH A LARGE CAP FOCUS) SCHEME FEATURES Investment Objective Taurus Bonanza Fund is an open-end growth scheme. The investment objective is to provide investors long-term capital appreciation. Investments shall be primarily in Equity and Equity related instruments that offer scope for long-term capital appreciation. The Fund will also be invested in debt and money market instruments. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment February 28, 1995 Benchmark S&P BSE 100 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - NIL Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan:` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 2.69% Direct Plan: 1.94% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.56 Standard Deviation: Beta: 1.03 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 2.55 Fund Manager's Comment: Scheme has bias towards high quality large cap stocks with overweight position in BFSI and rural consumption plays. The sustained regulatory change and positive policy frame work coupled with economic recovery should prove to be tailwind for the stocks in the BFSI sector. The Indian government's ambitious target of doubling farm income by 2022 should benefit stocks in the rural theme. Increase in weight in the cyclical commodity sector is tactical in nature. PORTFOLIO Name of the scrip EQUITY SECTOR ALLOCATION DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Gross Dividend per unit(`) Gross Dividend Per unit(`) March September % to Net Assets Top 10 Holdings ITC Ltd HDFC Bank Ltd Housing Development Finance Corporation Ltd Reliance Industries Ltd ICICI Bank Ltd Larsen & Toubro Ltd Maruti Suzuki India Ltd Ultratech Cement Ltd Bajaj Auto Ltd Zee Entertainment Enterprises Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 2.91 Total Banks Auto Consumer Non Durables Finance Cement Petroleum Products Construction Project Software Industrial Products Media & Entertainment Non - Ferrous Metals Power Fertilisers Consumer Durables Telecom - Equipment & Accessories Ferrous Metals Pursuant to payment of dividend, the NAV of the Scheme will fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June

10 TAURUS DISCOVERY FUND - (AN OPEN-ENDED EQUITY FUND WITH MID CAP AND SMALL CAP FOCUS) SCHEME FEATURES Investment Objective The primary objective of the Scheme is to identify and select low priced stocks through price discovery mechanism, which would broadly include: To capitalise on available opportunity on growth potential offered by undervalued penny stocks. Such stocks being low priced and if dividend paying, decent dividend yield will give desired cushion in the volatile capital market. Lower side risk is minimum in such investments. Many of such cases where investment will be made, may be turnaround cases, therefore, greater potential for improvement in NAV. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment September 5, 1994 Benchmark Nifty Free Float Midcap 100 Benchmark Index renamed w.e.f. 28/03/2016 Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.5% if exited on or before 180 days Nil if exited after 180 days Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Fund Manager's Comment: Scheme has bias towards undervalued mid-cap stocks with overweight position in BFSI, rural consumption plays, industrials and commodities. We have positioned our portfolio across these themes and companies that will have sustainable growth in coming years. We see larger upside to these ideas than some of the large well run efficient companies. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets L&T Finance Holdings Ltd Tata Chemicals Ltd Godrej Industries Ltd Bharat Electronics Ltd Aditya Birla Nuvo Ltd The South Indian Bank Ltd Motherson Sumi Systems Ltd NCC Ltd The Ramco Cements Ltd Piramal Enterprises Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 3.45 Total Finance Auto Ancillaries Banks Gas Industrial Capital Goods Consumer Non Durables Chemicals Power Transportation Pharmaceuticals Services Construction Project Cement Hotels, Resorts And Other Recreational Activities Construction Non - Ferrous Metals Healthcare Services Pesticides Consumer Durables Media & Entertainment Regular Plan: 2.68% Direct Plan: 2.33% (Excluding service tax on investment management fees) Quantitative Data Regular Plan : Sharpe Ratio: 0.97 Standard Deviation: Beta: 1.10 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: 1.99 DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Gross Dividend per unit(`) Gross Dividend Per unit(`) December Pursuant to payment of dividend, the NAV of the Scheme will fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June 2017

11 TAURUS BANKING & FINANCIAL SERVICES FUND-(AN OPEN-ENDED SECTORAL EQUITY SCHEME) SCHEME FEATURES Investment Objective The primary objective of the Scheme is to generate capital appreciation through a portfolio that invests predominantly in equity and equity related instruments of Banking, Financial and Non Banking Financial Companies that form a part of the BFSI Sector. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. Fund Manager Mr. Prasanna Pathak - Total work exp. 14 yrs Date of Allotment May 22, 2012 Benchmark S&P BSE Bankex Monthly AUM Monthly Average AUM: ` 6.52 Cr. Month End AUM: ` 6.36 Cr. Load Structure Entry Load - NIL Exit Load - NIL Switch: Equity to Equity-Exit Load Nil, Equity to ELSS/Debt exit load applicable as mentioned above. Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Fund Manager's Comment: Our overcall call has been inspired by the revival of the demand in the areas of specific focus by Government. We have added few more NBFC's to take advantage of this. We have maintained a positive bias on Private Banks given their resilience to generate profitability in stressed times. In PSU banks the exposure has been restricted to larger players with relatively improving asset quality outlook and faster prospects of stabilisation. PORTFOLIO Name of the scrip Top 10 Holdings EQUITY SECTOR ALLOCATION % to Net Assets HDFC Bank Ltd ICICI Bank Ltd Kotak Mahindra Bank Ltd State Bank of India 9.68 Axis Bank Ltd IndusInd Bank Ltd Aditya Birla Nuvo Ltd Bank of Baroda 2.47 Yes Bank Ltd The South Indian Bank Ltd Total Top 10 Holdings Total - Equity Cash & Cash Receivables 1.48 Total Banks Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Finance 8.85 Regular Plan:2.67% Direct Plan: 1.82% (Excluding service tax on investment management fees) Quantitative Data Services 2.66 Regular Plan : Sharpe Ratio: 0.48 Standard Deviation: Beta: 0.94 (Based on monthly returns over the past 3 years Mibor has been assumed as the risk-free rate of return) Portfolio Turnover: DIVIDEND HISTORY The scheme has not declared any dividend in last three months Note: Mr. Sadanand Shetty has since resigned from the services of the Company and Mr. Prasanna Pathak has been appointed as the new Fund Manager Equity w.e.f June 30, As on 30th June

12 TAURUS ULTRA SHORT TERM BOND FUND - (AN OPEN-ENDED DEBT SCHEME) SCHEME FEATURES Investment Objective To generate returns with higher liquidity and low volatility from a portfolio of money market and debt instruments. However, there is no assurance that the investment objective of the scheme will be realised. Fund Manager Mr. Dheeraj Singh - Total work exp. 24 yrs Date of Allotment December 1, 2008 PORTFOLIO Name of the scrip Industry / Rating % to Net Assets CBLO The Clearing Corporation of India Ltd Total - CBLO Cash & Cash Receivables 0.51 Total Benchmark Crisil Liquid Fund Index Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - NIL Switch to any (Debt/Equity) schemes; Exit Load Nil Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: Retail ` (D), (G), (W) per unit. Super Institutional ` (D), (G), (W) per unit. Direct Plan: Super Institutional ` (D), (G), (W) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 0.75% Direct Plan: 0.10% (Excluding service tax on investment management fees) Quantitative Data Portfolio Yield : 6.14% Average Maturity Period: 0.01 years Modified Duration : 0.01 years Asset Allocation CBLO Cash & Cash Receivables Rating Profile CBLO Cash & Cash Receivables Note: 1. With reference to Notice cum Addendum dated February 23, 2017, all subscriptions including SIP/STP/Switch-in applications have been temporarily suspended till further notice. 2. Mr. Archit Shah has since resigned from the services of the Company and Mr. Dheeraj Singh, Head of Investments has been assigned additional duty to act as the Fund Manager Fixed Income w.e.f June 30, As on 30th June 2017

13 TAURUS LIQUID FUND - (AN OPEN-ENDED LIQUID SCHEME) SCHEME FEATURES Investment Objective To generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of money market securities and high quality debt. Fund Manager Mr. Dheeraj Singh - Total work exp. 24 yrs Date of Allotment August 31, 2006 Benchmark Crisil Liquid Fund Index Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - NIL Switch to any (Debt/Equity) schemes; Exit Load Nil Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. PORTFOLIO Name of the scrip Industry / Rating % to Net Assets CBLO The Clearing Corporation of India Ltd Total - CBLO Cash & Cash Receivables 0.88 Total Asset Allocation Cblo Cash & Cash Receivables Rating Profile CBLO Cash & Cash Receivables Net Asset Value (NAV) Face Value `1000/- Face Value changed from `10 to `1000 w.e.f. 20/02/2010. Historical NAV adjusted as per new Face value of `1000 Regular Plan: Retail ` (D), (G), per unit. Institutional ` (G) per unit. Super Institutional ` (D), (G), (W) per unit. Direct Plan: Super Institutional ` (D), (G), (W) per unit. NAV Calculation: All Calender days. Institutional and Super Institutional plan introduced w.e.f. 26/09/2008. Retail & Institutional Plans discontinued for fresh subscription /additional purchase /switch-in w.e.f. 01/10/2012 Expense Ratio: Regular Plan: 0.18% Direct Plan: 0.10% (Excluding service tax on investment management fees) Quantitative Data Portfolio Yield : 6.14% Average Maturity Period: 0.01 years Modified Duration : 0.01 years DIVIDEND HISTORY The scheme has not declared any dividend in last three months Note: 1. With reference to Notice cum Addendum dated February 23, 2017, all subscriptions including SIP/STP/Switch-in applications have been temporarily suspended till further notice. 2. Mr. Archit Shah has since resigned from the services of the Company and Mr. Dheeraj Singh, Head of Investments has been assigned additional duty to act as the Fund Manager Fixed Income w.e.f June 30, 2017 As on 30th June

14 TAURUS SHORT TERM INCOME FUND - (AN OPEN-ENDED BOND SCHEME) SCHEME FEATURES Investment Objective To generate income and capital appreciation with low volatility by investing in a diversified portfolio of short term debt and money market instruments. Fund Manager Mr. Dheeraj Singh - Total work exp. 24 yrs Date of Allotment August 18, 2001 Benchmark Crisil Short Term Bond Fund Index Monthly AUM Monthly Average AUM: ` Cr. Month End AUM: ` Cr. Load Structure Entry Load - NIL Exit Load - Upto any amount (Including SIP): 0.25% if exited on or before 30 days Nil if exited after 30 days Switch to any (Debt/Equity) schemes - exit load applicable as mentioned above Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. PORTFOLIO Name of the scrip Industry / Rating % to Net Assets CBLO The Clearing Corporation of India Ltd Total - CBLO Cash & Cash Receivables 0.69 Total Asset Allocation Cblo Cash & Cash Receivables *Industry exposure, scrip aum, asset aum scrip investment, asset investment not available as listing is awaited Rating Profile CBLO Cash & Cash Receivables Net Asset Value (NAV) Face Value `1000/- Face Value changed from `10 to `1000 w.e.f. 26/04/2010. Historical NAV adjusted as per new Face value of ` 1000 Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 0.30% Direct Plan: 0.10% (Excluding service tax on investment management fees) DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Gross Dividend per unit(`) Gross Dividend Per unit(`) February January December Pursuant to payment of dividend, the NAV of the Scheme will fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to Quantitative Data Portfolio Yield : 6.14% Average Maturity Period: 0.01 years Modified Duration : 0.01 years Note: 1. With reference to Notice cum Addendum dated February 23, 2017, all subscriptions including SIP/STP/Switch-in applications have been temporarily suspended till further notice. 2. Mr. Archit Shah has since resigned from the services of the Company and Mr. Dheeraj Singh, Head of Investments has been assigned additional duty to act as the Fund Manager Fixed Income w.e.f June 30, As on 30th June 2017

15 TAURUS DYNAMIC INCOME FUND - (AN OPEN ENDED INCOME SCHEME) SCHEME FEATURES Investment Objective To generate optimal returns with high liquidity through active management of the portfolio by investing in Debt and Money Market Instruments. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. Fund Manager Mr. Dheeraj Singh - Total work exp. 24 yrs Date of Allotment PORTFOLIO Name of the scrip Industry / Rating % to Net Assets CBLO The Clearing Corporation of India Ltd Total - CBLO Cash & Cash Receivables 1.58 Total Asset Allocation 1.58 Rating Profile 1.58 Feb 14, Benchmark Crisil Composite Bond Fund Index Monthly AUM Monthly Average AUM: ` 4.34 Cr. Month End AUM: ` 3.52 Cr. Load Structure Entry Load - NIL Exit Load - 1% if exited on or before 90 days - Nil if exited after 90 days Switch to any (Debt/Equity) schemes - exit load applicable as mentioned above CBLO Cash & Cash Receivables CBLO Cash & Cash Receivables Minimum Application Amount: ` 5000/- & multiples of ` 1/- thereafter. Liquidity Sale & repurchase on all business days. Net Asset Value (NAV) Face Value `10/- Regular Plan: ` (D), (G) per unit. Direct Plan: ` (D), (G) per unit. NAV Calculation: All Business days. Expense Ratio: Regular Plan: 0.89% Direct Plan: 0.14% (Excluding service tax on investment management fees) DIVIDEND HISTORY Month & Year Regular Plan Direct Plan Gross Dividend per unit(`) Gross Dividend Per unit(`) December September June Pursuant to payment of dividend, the NAV of the Scheme will fall to the extent of the dividend and statutory levy, if any. Past performance may or may not be sustained in the future. All dividends are on face value of `10 per unit. For complete details of the dividend declared please log on to Quantitative Data Portfolio Yield : 6.14% Average Maturity Period: 0.01 years Modified Duration : 0.01 years Note: 1. With reference to Notice cum Addendum dated February 23, 2017, all subscriptions including SIP/STP/Switch-in applications have been temporarily suspended till further notice. 2. Mr. Archit Shah has since resigned from the services of the Company and Mr. Dheeraj Singh, Head of Investments has been assigned additional duty to act as the Fund Manager Fixed Income w.e.f June 30, 2017 As on 30th June

16 SCHEME PERFORMANCE FUND MANAGER WISE (As on 30th June 2017) Mr. Prasanna Pathak Designation: Fund Manager - Equity Mr. Prasanna Pathak is PGDBM (Finance) from S.P. Jain, Mumbai with 14 years of experience Prior to joining Taurus Asset Management Co. Ltd, Prasanna Pathak was associated organizations like Hindustan Unilever as research analyst for 2 years, UTI Mutual Fund as Asst. Fund Manager & research analyst for 4.5 years, Taurus Mutual Fund as Fund Manager-Equity for 1.5 years & IndiaFirst Life as Fund Manager-Equity for 5.5 years Responsibilities: At Taurus Mutual Fund, he has been managing all the Equity Schemes Taurus Starshare - Regular Plan Scheme , , , , S&P BSE 200 (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : ) Taurus Starshare - Direct Plan Scheme , , , S&P BSE 200 (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : ) Taurus Ethical Fund - Regular Plan Scheme , , , , S&P BSE 500 Shariah (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 43.13) Taurus Ethical Fund - Direct Plan Scheme , , , S&P BSE 500 Shariah (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 44.61) Taurus Infrastructure Fund - Regular Plan Scheme , , , , S&P BSE 200 (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 21.95) Taurus Infrastructure Fund - Direct Plan Scheme , , , S&P BSE 200 (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 22.72)

17 Taurus Tax Shield - Regular Plan Scheme , , , , S&P BSE 200 (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 66.95) Taurus Tax Shield - Direct Plan Scheme , , , S&P BSE 200 (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 69.19) Taurus Nifty Index Fund - Regular Plan Scheme , , , , Nifty 50 (Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : ) Taurus Nifty Index Fund - Direct Plan Scheme , , , Nifty 50 (Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : ) Taurus Bonanza Fund - Regular Plan Scheme , , , , S&P BSE 100 (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 69.45) Taurus Bonanza Fund - Direct Plan Scheme , , , S&P BSE 100 (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 72.06)

18 Taurus Discovery Fund - Regular Plan Scheme , , , , Nifty Free Float Midcap 100 (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 39.33) Taurus Discovery Fund - Direct Plan Scheme , , , Nifty Free Float Midcap 100 (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 40.21) Taurus Banking & Financial Services Fund - Regular Plan Scheme , , , , S&P BSE Bankex Index (Benchmark) , , , , Nifty 50 (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 21.02) Taurus Banking & Financial Services Fund - Direct Plan Scheme , , , S&P BSE Bankex Index (Benchmark) , , , Nifty 50 (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 22.05) Past performance may or may not be sustained in the future. Returns are calculated on compounded annualised basis (CAGR). Returns are given separately for Regular & Direct Plan - Growth option. Different Plans shall have different expense structure. Direct Plan was introduced for all schemes w.e.f. January 1, 2013 and have not been in existence for more than 5 years, no returns are available. Taurus Banking & Financial Services Fund - Regular Plan has not been in existence for more than 5 years, no returns are available. 15

19 Fund Manager's Comment (Debt Schemes): The consumer price inflation (CPI) index came in at 2.18% for the month of May 2017, indicating benign inflationary conditions in the economy. The monetary policy committee (MPC) of the Reserve Bank of India (RBI) kept policy interest rates on hold during their meeting in June. Statutory Liquidity Ratio (SLR) was however reduced by 0.5%. At least one member of the committee however wanted a 0.5% reduction in policy interest rates in view of the benign inflationary conditions in the economy. Some other members were however of the view that it was preferable to wait for the transitory effects (on inflation) to wear off before making a change in the policy interest rates. The RBI also unexpectedly announced an open market sale of securities for the first week of July. In view of this benchmark 10 year government bond yield rose by 10 basis points from approx. 6.45% to 6.55%. Liquidity situation within the system did not witness any material change with the surplus reducing gradually. Currency in circulation has been going up progressively and was at about INR 15.3 trn by the end of June. The Assets under management for the fund have reduced significantly and hence it is not economical to deploy the funds in assets. Consequently, the entire fund has been invested in the CBLO segment of the overnight money market. Returns from the fund therefore mirror the overnight money market rates. Mr. Dheeraj Singh Designation: Head of Investments and Fund Manager - Fixed Income Mr. Dheeraj Singh is B.E (Hons), PGD in Management from IIM Bangalore with over 24 years of experience. Prior to that, he served as Head Fixed Income with Sundaram Asset Management Company. He has extensive experience of consultancy in Banking & Financial Service industry. Responsibilities: He is the Head - Investments for the all the Schemes of Taurus Mutual Fund. He monitors the Equity & Debt segment investments. Taurus Ultra Short Term Bond Fund - Regular Plan Scheme (6.11) 9, , , , CRISIL Liquid Fund Index (Benchmark) , , , , CRISIL 1 Year T-Bill Index (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 1, ) 1, , , , Taurus Ultra Short Term Bond Fund - Direct Plan Scheme (5.49) 9, , , CRISIL Liquid Fund Index (Benchmark) , , , CRISIL 1 Year T-Bill Index (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 1, ) 1, , , Taurus Liquid Fund - Regular Plan Scheme (1.03) 9, , , , Crisil liquid fund Index (Benchmark) , , , , CRISIL 1 Year T-Bill Index (Additional Benchmark) , , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 1, ) 1, , , , Taurus Liquid Fund - Direct Plan Scheme (0.95) 9, , , Crisil liquid fund Index (Benchmark) , , , CRISIL 1 Year T-Bill Index (Additional Benchmark) , , , NAV [Rs.] Per Unit (as on June 30, 2017 : 1, ) 1, , ,