MUTUAL FUND OUTLOOK-AUGUST, 2016

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1 MUTUAL FUND OUTLOOK-AUGUST, 2016 KEY EVENTS OF JULY 16 Indian equities reported a strong performance in the month of July, 2016 on the back of strong inflows. The market sentiment was boosted by strong progress of monsoons in India, steady corporate earnings season, expectations of reform boost with the hope of the passage of the GST (Goods and Services Tax) Bill in the Upper House of Parliament during the monsoon session (which actually has been recently passed) and the continuation of a global risk-on trade. After strong performance in the past few months, markets are in fair value plus zone. Time in the market more important than timing the market volatility in markets to remain elevated Earnings so far have been mixed- globally exposed sectors (technology, pharma) have by and large seen earnings cut post their quarterly results; domestic focused themes (cement, autos, media, home building) have seen upgrades. A number of notable macro-economic events are lined up over the next few months, the outcome of which would have a bearing on the direction that the market would take. These include decisions related to monetary policy, the appointment of the new RBI Governor, the selection of the Monetary Policy Committee (MPC) and the determination of the five year CPI inflation target, the passage of GST Bill, FCNR (Foreign Currency Non Resident-B) redemptions and the US Federal reserve action amongst others. INDUSTRY UPDATE India s mutual fund (MF) sector hit a new milestone in July by topping Rs. 15 lakh crore in Assets Under Management (AUM), amid a sharp increase in the stock markets and encouraging flows from investors. The sector s assets stood at Rs 13.8 lakh crore at the end of June, after breaching Rs. 14 lakh crore in April. Helped by a 10 per cent increase in the benchmark Sensex, the latest addition of Rs 1 lakh crore in assets took only three months. Mutual funds ramped up their allocation for bank stocks to a record high of nearly Rs 94,000 crore by June-end, primarily on account of steps taken by the government and RBI to clean up the banking system. Private sector lender Yes Bank has received an in-principle approval from the capital markets regulator SEBI to sponsor a mutual fund and to set up an asset management company and a trustee company.

2 DID YOU KNOW??? SIPs Sleep In Peace!!! We earn regularly.we spend regularly Shouldn t we also invest regularly?? We all have various dreams that we want to realize owning a Car, a House or going on a Vacation. Besides these, we also need to plan for Children's Education, their Marriage and our Retirement. Achieving these dreams may seem like climbing Mount Everest, but it s possible if you prepare for it step by step. SIP or systematic investment planning is method through which you can invest in mutual funds through small and periodical installments instead of lump sum. What is SIP? Systematic Investment Plan (SIP) is a financial planning tool that helps you to create wealth, by investing a fixed sum, regularly, in a mutual fund scheme. An investor can invest a pre-determined fixed amount in a scheme every month or quarter, depending on his/her convenience A SIP is a strategy/vehicle offered by mutual funds to help investors invest regularly in a disciplined manner and it also free the investors from speculating in volatile markets. Further, as the investor is getting more units when the price is low and few units when the price is high, in the long run the average cost per unit is supposed to be lower Why SIP? Helps in inculcating financial discipline Harness the power of two powerful Investment strategies o Rupee Cost Averaging- Benefit from Volatility o Power of Compounding- Small Investments create big kitty overtime No need to time the market Lighter on wallet Reap benefits of starting early Easy Liquidity Flexible and Convenient How SIP works? SIP is a method of investing a fixed sum, regularly, in a mutual fund scheme. SIP allows one to buy units on a given date each month, so that one can implement a saving plan for themselves. Investors need to fill up an Application form and SIP mandate form on which they need to indicate their choice for the SIP date (on which the amount will be invested). Subsequent SIPs will be auto-debited from your bank account through a standing instruction given or post-dated cheques. The biggest advantage of SIP is that one need not time the market. You are allocated certain number of units based on the ongoing market rate (called NAV or net asset value) for the day.

3 GOLD ETFs (EXCHANGE TRADED FUND) AND GOLD FUNDS Exchange Trade Funds (ETFs) are open ended mutual funds that are listed and traded on stock exchange like common stocks. The ETFs comprise of stocks, bonds or commodities that are passively managed and traded close to its NAV during a trading day. Gold ETFs is an investment tool through which an investor can be a part of gold bullion market. Gold ETFs are funds that invest in physical gold of 99.5 per cent purity. A gold ETF invests per cent in physical gold sourced from the RBI approved banks and 0-10 per cent in debt instruments. It is for this reason that Gold ETF returns are mostly in line with the prices of physical gold. One unit of ETF is equal to one gram of physical Gold. The units of gold ETFs are traded in exchanges and hence offer liquidity and the right price for both buyers and sellers. The value of Gold ETFs are directly dependent on the gold prices; so when gold prices rise, so does the ETF value and likewise is the effect of falling prices of gold on Gold ETFs value. The investments are electronic, i.e., one can invest in gold without actually holding it in physical form. However, one is required to have a Demat account to invest in a Gold ETF. On the other hands, Gold fund is an open-ended mutual fund that invests in gold ETF. For an investor, buying a gold fund is easier because you don't need a demat account, which is required to invest in a gold ETF. If the investor is unable to consistently track his or her investment or even if he is new to the investment world, it is a valuable option to invest in gold through Gold funds. Investors can invest through the SIP route, which is not possible when investing in the ETF. Similar to ETFs, one unit of gold fund is equal to one gram of physical gold. Investing in a gold fund can save you the hassle of deciding when to buy and going through the actual buying procedure all by yourself. As gold fund units can be bought and sold from the fund house, one does not face liquidity risk and can buy and sell at the NAV. However, both these forms of investments in gold track the price of physical gold. But still there are many advantages of having Gold funds and ETFs than having physical gold It provides an opportunity to investors to accumulate gold over a given period of time. Since gold can be purchased in small quantities through both the options, one can plan the procurement as per future requirements, say, for the marriage of children, etc. Since one have gold in Demat/paper form, its purity is never in question and one can easily avail a loan against these units from any gold financing company or a bank There is no risk of theft and one need not worry about the storage cost (as in case of physical gold) because such units are held in demat or paper form. In the case of physical gold, one ends up paying extra for making charges as well, but there is no extra charge applicable in gold ETFs and gold funds.

4 RETURN CHART Starting with top funds of the week in Equity and Debt categories EQUITY ORIENTED FUNDS Date05-Aug-2016 Fund Category 1- Month Mirae Asset Emerging Bluechip Fund - Reg-(G) 3- Month 1-Year 3-Year 5-Year EQ- Mid Cap Year UTI Mid Cap Fund-Reg-(G) EQ- Mid Cap Birla Sun Life Frontline Equity Fund-Reg-(G) EQ-Large Cap SBI Bluechip Fund-Reg-(G) EQ-Large Cap DSP BlackRock Micro Cap Fund - Reg-(G) EQ-Small Cap Source Value Research DEBT FUND DETAILS Date 05-Aug-2016 Fund Category 1- Month DSP BlackRock Income Opportunities Fund-Reg-(G) Debt Credit Opportunities 3- Month 1-Year 3-Year 5-Year Year ICICI Prudential Balanced Advantage Fund-Reg-(G) Hybrid-Equity Birla Sun Life Medium Term Plan-Reg-(G) Debt Credit Opportunities HDFC Income Fund-Reg-(G) Debt -Income HDFC Medium Term Opportunities Fund-Reg-(G) Debt- Income Source Value Research Factsheets of the above mentioned schemes are as follows

5 Tel , FaxNo, Mirae Asset Emerging Bluechip Fund - Regular Plan Growth Benchmark NIFTY FREE FLOAT MIDCAP 100 Scheme Obj Equity Mid Cap Scheme Type Open-ended Launch Date Jul 09, 2010 Fund Manager Neelesh Surana To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs.100 Crores at the time of investment. Equity Debt Other Alpha Beta Trailing s (%) 1 M 3.99 Corpus (Cr.) 52 Week High 52 Week Low Mean Std. Deviation Sharpe Ratio 3 M 6 M 1 Y 2 Y 3 Y 1, (08/08/2016) (25/02/2016) Y 10 Y 1.78 Abs Ret for <=1 Yr & CAGR for >1 Yr Entry N.A. Exit 2% for redemption within 182 days 1% for redemption between days Ex. Ratio 2.45 Current Nav ( ) Holding Instrument Net Asset (%) Indusind Bank Equity 3.80 HPCL Equity 3.56 Kotak Mahindra Bank Equity 3.50 Federal Bank Equity 3.11 Exide Inds. Equity 3.02 Torrent Pharmaceuticals Equity 2.92 Motherson Sumi Systems Equity 2.62 Voltas Equity 2.58 Lupin Equity 2.53 Tata Chemicals Equity 2.46 Natco Pharma Equity 2.31 Dabur India Equity 2.30 Gateway Distriparks Equity 2.21 ICICI Bank Equity 2.14 Info Edge (India) Equity 2.12 Credit Analysis & Research Equity 1.96 AIA Engineering Equity 1.90 Sundaram Finance Equity 1.88 TVS Motor Co. Equity 1.83 Ceat Equity 1.80 Zee Entertainment Ent. Equity 1.78 The Ramco Cements Equity 1.73 Vinati Organics Equity 1.69 eclerx Services Equity 1.67 Crompton Greaves Equity 1.61 Others Metals FMCG Cons Durable 1.7% 1.9% 2.3% 2.6% Energy Chemicals Engineering 3.6% 4.2% 4.6% Automobile 6.3% Healthcare Services 7.8% 7.8% Financial 16.4% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0%

6 Tel , FaxNo, UTI - Mid Cap Fund Growth Plan Scheme Obj Equity Mid Cap Launch Date Apr 07, 2004 An open-ended equity fund with the objective to provide `Capital appreciation` by investing primarily in mid cap stocks. Benchmark NIFTY FREE FLOAT MIDCAP 100 Scheme Type Open-ended Fund Manager Lalit Gopalan Nambiar Entry N.A. Exit 1% for redemption within 364 days Ex. Ratio 2.44 Current Nav ( ) Equity Corpus (Cr.) 3, Holding Instrument Net Asset (%) Debt 0.83 M&M Financial Services Equity Week High (08/08/2016 SRF Equity 2.69 Other Week Low (25/02/2016) Titan Company Equity 2.40 Cholamandalam Invest. & Fin. Equity 2.37 Mphasis Equity 2.36 Alpha Mean Indraprastha Gas Equity 2.28 Eicher Motors Equity 2.24 Beta 0.97 Std. Deviation JK Lakshmi Cement Equity 1.99 Sharpe Ratio 1.60 Crompton Greaves Consumer ElectricEquity 1.79 Indusind Bank Equity 1.78 Apollo Tyres Equity 1.66 Whirlpool Equity 1.50 Trailing s (%) Karur Vysya Bank Equity 1.48 Abs Ret for <=1 Yr & CAGR for >1 Yr Britannia Inds. Equity 1.44 Exide Inds. Equity M 3 M 6 M 1 Y 2 Y 3 Y 5 Y 10 Y United Spirits Equity Pidilite Industries Equity 1.41 Bajaj Corp Ltd. Equity 1.41 Arvind Equity 1.39 Ujjivan Financial Services Equity 1.39 Indoco Remedies Equity 1.38 Tata Chemicals Equity 1.31 Federal Bank Equity 1.31 NCC Equity 1.31 Petronet LNG Equity 1.28 Others Engineering 1.4% 1.4% Technology Chemicals 2.4% 2.7% Construction Energy Automobile Textiles FMCG 3.3% 3.6% 3.9% 4.1% 4.3% Cons Durable 5.7% Financial 13.3% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0%

7 Tel , FaxNo, Birla Sun Life Frontline Equity Fund -Growth-Regular Plan Benchmark S&P BSE 200 Scheme Obj Equity Large Cap Scheme Type Open-ended Launch Date Aug 30, 2002 Fund Manager Mahesh Patil The Scheme aims to generate long term growth of capital, through a portfolio with a target allocation of 100% equity by aiming at being as diversified across various industries and or sectors as its chosen benchmark index. Equity Debt Other Alpha Beta Trailing s (%) 1 M 3.25 Corpus (Cr.) 52 Week High 52 Week Low Mean Std. Deviation Sharpe Ratio 3 M 6 M 1 Y 2 Y 3 Y 12, (08/08/2016) (25/02/2016) Y 10 Y 0.95 Abs Ret for <=1 Yr & CAGR for >1 Yr Entry N.A. Exit 1% for redemption within 365 days Ex. Ratio 2.25 Current Nav ( ) Holding Instrument Net Asset (%) HDFC Bank Equity 6.78 Infosys Equity 5.36 Reliance Industries Equity 4.16 ITC Equity 3.72 Larsen & Toubro Equity 3.59 ICICI Bank Equity 2.98 Tata Motors Equity 2.71 Indusind Bank Equity 2.53 HCL Technologies Equity 2.43 Maruti Suzuki India Equity 2.34 Grasim Industries Equity 2.30 Axis Bank Equity 2.20 Sun Pharmaceutical Inds. Equity 2.14 HDFC Equity 2.09 Yes Bank Equity 1.92 NTPC Equity 1.84 Crompton Greaves Consumer ElectricEquity 1.71 Kotak Mahindra Bank Equity 1.70 Indian Oil Corp. Equity 1.62 Zee Entertainment Ent. Equity 1.56 Hindustan Unilever Equity 1.53 State Bank of India Equity 1.52 Coal India Equity 1.43 Muthoot Finance Equity 1.36 Cummins India Equity 1.34 Engineering Services Cons Durable Healthcare 1.3% 1.6% 1.7% 2.1% Automobile FMCG Diversified 5.0% 5.3% 5.9% Technology 7.8% Energy 9.1% Financial 23.1% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 24.0%

8 Tel , FaxNo, SBI Blue Chip Fund - Regular Plan - Growth Scheme Obj Equity Large Cap Launch Date Feb 14, 2006 The scheme would invest in stocks of companies whose market capitalization is atleast equal to or more than the least market capitalised stock of BSE 100 Index. Benchmark S&P BSE 100 Scheme Type Open-ended Fund Manager Sohini Andani Entry N.A. Exit 1% for redemption within 365 days Ex. Ratio 2.11 Current Nav ( ) Equity Corpus (Cr.) 7, Holding Instrument Net Asset (%) Debt HDFC Bank Equity Week High (08/08/2016 Infosys Equity 4.62 Other Week Low (25/02/2016 Reliance Industries Equity 4.09 Sun Pharmaceutical Inds. Equity 3.61 Larsen & Toubro Equity 2.71 Alpha 9.73 Mean Indusind Bank Equity 2.68 HPCL Equity 2.64 Beta 0.90 Std. Deviation Mahindra & Mahindra Equity 2.61 Sharpe Ratio 1.17 Divi`s Laboratories Equity 2.52 Ultratech Cement Equity 2.40 UPL Equity 2.31 The Ramco Cements Equity 2.28 Trailing s (%) Shriram Transport Finance Equity 2.18 Abs Ret for <=1 Yr & CAGR for >1 Yr Cholamandalam Invest. & Fin. Equity 2.16 Tata Consultancy Services Equity M 3 M 6 M 1 Y 2 Y 3 Y 5 Y 10 Y Grasim Industries Equity M&M Financial Services Equity 2.06 Bharat Electronics Equity 1.97 Tata Motors DVR Equity 1.90 Maruti Suzuki India Equity 1.87 Voltas Equity 1.66 Aurobindo Pharma Equity 1.65 HDFC Equity 1.54 Motherson Sumi Systems Equity 1.53 Titan Company Equity 1.50 Engineering Chemicals 2.0% 2.3% Cons Durable 3.2% Construction Diversified 4.7% 4.8% Technology Energy 6.7% 6.7% Healthcare Automobile 7.8% 7.9% Financial 17.1% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0%

9 Tel , FaxNo, DSP Blackrock Micro Cap Fund - Regular Plan - Growth Benchmark S&P BSE SMALL CAP Scheme Obj Equity Small Cap Scheme Type Open-ended Launch Date Jun 14, 2007 Fund Manager Jay Kothari The aim of the fund is to seek long-term capital appreciation by investing in a portfolio that is substantially constitutes of stocks that are not part of the top 300 companies by market capitalisation. Focus of the scheme is to deliver superior long term performance by selecting stocks of companies those are uncorrelated to broader markets & not sector specific. Equity Debt Other Alpha Beta Trailing s (%) 1 M 2.07 Corpus (Cr.) 52 Week High 52 Week Low Mean Std. Deviation Sharpe Ratio 3 M 6 M 1 Y 2 Y 3 Y 3, (09/08/2016) (29/02/2016) Abs Ret for <=1 Yr & CAGR for >1 Yr Y 10 Y Entry N.A. Exit 1% for redemption within 364 days Ex. Ratio 2.54 Current Nav ( ) Holding Instrument Net Asset (%) Sharda Cropchem Equity 4.47 KPR Mills Equity 4.11 SRF Equity 3.97 Navin Fluorine International Equity 2.94 Eveready Industries (I) Equity 2.93 Finolex Cables Equity 2.87 Cera Sanitaryware Equity 2.73 Manappuram Finance Equity 2.69 Atul Equity 2.64 APL Apollo Tubes Equity 2.56 Thyrocare Technologies Equity 2.53 NIIT Technologies Equity 2.48 V-Guard Industries Equity 2.46 Aarti Industries Equity 2.35 DCB Bank Equity 2.34 Solar Industries Equity 2.27 Repco Home Finance Ltd. Equity 2.20 Somany Ceramics Equity 2.14 Finolex Inds. Equity 2.07 Indoco Remedies Equity 2.01 Majesco Equity 1.71 Suprajit Eng Equity 1.71 Symphony Equity 1.69 Chambal Fertilisers & Chem. Equity K Miles Software Services Equity 1.52 Others 1.7% Metals Engineering FMCG 2.6% 2.9% 2.9% Cons Durable Healthcare Construction 4.2% 4.5% 4.9% Technology 5.7% Financial 7.2% Textiles 8.1% Chemicals 18.3% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0%

10 Tel , FaxNo, DSP Blackrock Income Opportunities Fund - Direct Plan - Growth Benchmark CRISIL LT GILT Scheme Obj Debt Credit Opportunities Scheme Type Open-ended Launch Date Jan 01, 2013 Fund Manager Laukik Bagwe The scheme seeks to generate returns commensurate with risk from a portfolio constituted of money market securities and debt securities. Equity Debt Other Alpha Beta Avg. Mat M. Duration Yr YTM % Entry N.A. Exit 1% for redemption within 365 days Ex. Ratio 1.20 Current Nav ( ) Corpus (Cr.) 3, Holding Instrument Net Asset (%) IL&FS Transportation Networks 2019Structured Week High (10/08/2016 Obligation 52 Week Low (13/08/ % DLF Emporio 2021 Bonds/NCDs % Sobha 2019 Debenture % Power Grid Corp Bonds 3.00 Prism Cement 2019 Bonds 3.00 Mean % National Bank Agr. Rur. Devp 20Bonds % LIC Housing Fin Bonds 2.93 Std. Deviation % Janalakshmi Financial ServicDebenture 2.84 Sharpe Ratio % Aspire Home Finance Corp. 201Debenture 2.81 IL&FS Energy Development 2019 Debenture % Hinduja Leyland Finance 201Debenture 2.79 IL&FS Energy Development 2017 Debenture 2.70 Coffee Day Enterprises 2017 Structured 2.58 Obligation 8.23% PNB Housing Finance 2019 Bonds % Coffee Day Natural Resources 2Debenture 2.34 Liquid Investment and Trading 2016 Debenture % Reliance Jio Infocomm 2020 Debenture % Rural Electrification 2020 Bonds % Reliance Utilities and Power 20Debenture % Power Finance Corp Bonds % Power Grid Corp Bonds % Reliance Gas Transportation Bonds/NCDs 1.57 India Infoline Housing Finance 2018 Debenture % Rural Electrification 2019 Bonds % Janalakshmi Financial ServicDebenture 1.44 AA+ 2.4% A- 3.0% AA- 5.4% AA 5.8% A 7.8% A+ 12.6% AAA 27.5% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 24.0% 28.0%

11 Tel , FaxNo, ICICI Prudential Balanced Advantage Fund - Growth Benchmark CRISIL BALANCED FUND AGGRESS Scheme Obj Hybrid Equity Oriented Scheme Type Open-ended Launch Date Dec 30, 2006 Fund Manager Ashwin Jain The scheme seeks to provide capital appreciation and income distribution to the investors by using equity derivatives strategies, arbitrage opportunities and pure equity investments. Equity Debt Other Alpha Beta Trailing s (%) 1 M 1.90 Corpus (Cr.) 52 Week High 52 Week Low Mean Std. Deviation Sharpe Ratio 3 M 6 M 1 Y 2 Y 3 Y 12, (08/08/2016) (25/02/2016) Abs Ret for <=1 Yr & CAGR for >1 Yr Y 10 Y Entry N.A. Exit 1% for redemption within 540 days Ex. Ratio 2.26 Current Nav ( ) Holding Instrument Net Asset (%) HDFC Bank Equity 5.29 National Bank Agr. Rur. Devp 90-D 27Commercial Paper % GOI 2023 GOI Securities % GOI 2028 Central 2.82 ICICI Bank Equity 2.47 ITC Equity 2.29 Coal India Equity 2.25 Cipla Equity 2.15 HCL Technologies Equity 2.11 Motherson Sumi Systems Equity 2.02 Tech Mahindra Equity 1.96 Maruti Suzuki India Equity % GOI 2026 GOI Securities 1.93 Axis Bank Equity % HDFC 2018 Bonds/Debentures % GOI 2029 GOI Securities 1.77 NTPC Equity 1.75 Bajaj Finserv Equity 1.73 Infosys Equity 1.71 Reliance Industries Equity 1.68 Power Grid Corp. Equity 1.57 Lupin Equity 1.56 Wipro Equity 1.48 Larsen & Toubro Equity 1.42 ACC Equity 1.29 Others 4.8% AAA FMCG Diversified 1.8% 2.3% 2.6% Automobile 4.0% Healthcare 6.0% Technology 7.3% Energy A1+ 8.2% 8.7% Financial 12.5% SOV 14.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0%

12 Tel , FaxNo, BSL Medium Term Plan - Growth-Regular Plan Benchmark CRISIL AA ST BOND INDEX Scheme Obj Debt Credit Opportunities Scheme Type Open-ended Launch Date Mar 25, 2009 Fund Manager Maneesh Dangi The primary investment objective of the Scheme is to generate regular income through investments in debt & money market instruments in order to make regular dividend payments to unitholders. The Fund intends to optimise returns by keeping its portfolio duration between 1 year to 5 years. At anytime the maturity of the portfolio will be governed by the fund manager`s perception of the interest rate scenario prevailing in the economy. Entry N.A. Exit 2% for redemption within 365 days 1% for redemption between days Ex. Ratio 1.65 Current Nav ( ) Equity 0.00 Corpus (Cr.) 6, Holding Instrument Net Asset (%) Debt ECL Finance 2017 Debenture Week High (10/08/2016 7% RKN Retail Pvt Debenture 6.29 Other Week Low (13/08/ % GOI 2044 Central % SD Corporation 2021 Structured 4.31 Obligation Alpha 4.13 Mean % RHC Holdings 2019 Debenture 4.25 Beta 2.18 Std. Deviation % Relationship Properties 2018 Debenture 3.63 Adani Power 2018 Structured 3.49 Avg. Mat. Obligation Sharpe Ratio % RHC Holdings 2019 Structured M. Duration Yr Obligation 3.23 YTM % 11% IL&FS Education and TechnologDebenture 3.21 Trailing s (%) 9.84% Tata Motors Finance SolutionsPrivately Placed 3.20 Abs Ret for <=1 Yr & CAGR for >1 Yr Debts 1 M 3 M 6 M 1 Y 2 Y 3 Y 5 Y 10 Y 8.13% GOI 2045 GOI Securities 2.17 Dewan Housing Fin. Corpn Debenture % IL&FS Education and TechnoDebenture % Dewan Housing Fin. Corpn. 201Debenture % Coffee Day Natural Resources 2Debenture % Tata Realty and Infrastructure Debenture % Hero Realty 2019 Debenture % Coffee Day Enterprises 2018 Debenture % Bank of India 2050 Debenture % Indiabulls Housing Finance 20Debenture % Securities Trading Corpn. 201Debenture 1.17 Tata Power Renewable Energy 2025 Debenture % Syndicate Bank 2050 Debenture % Grand View Estates 2019 Debenture 0.80 Pune Solapur Expressways 2029 Debenture 0.71 A+ 1.6% AAA 5.0% SOV 8.4% A 16.1% AA- 17.1% AA 18.3% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0%

13 Tel , FaxNo, HDFC Income Fund - Regular Plan - Growth Scheme Obj Debt Income Launch Date Sep 11, 2000 The scheme seeks to optimise returns while maintaining a balance of safety, yield and liquidity from a portfolio of debt and money market instruments. Benchmark CRISIL COMPOSITE BOND Scheme Type Open-ended Fund Manager Shobhit Mehrotra Entry N.A. Exit 0.5% for redemption within 180 days Ex. Ratio 1.81 Current Nav ( ) Equity 0.00 Corpus (Cr.) 2, Holding Instrument Net Asset (%) Debt % GOI 2040 Central Week High (10/08/2016 Other Week Low (24/08/ % GOI 2033 Central % GOI 2032 Central % GOI 2027 Central 9.32 Alpha Mean 7.43 Beta 2.21 Std. Deviation % GOI 2034 GOI Securities % GOI 2044 Central 5.63 Avg. Mat. Sharpe Ratio 0.48 M. Duration Yr 8.33% GOI 2036 Central 5.17 YTM % 9.2% GOI 2030 Central 4.04 Trailing s (%) Abs Ret for <=1 Yr & CAGR for >1 Yr 7.95% GOI 2032 GOI Securities M 3 M 6 M 1 Y 2 Y 3 Y 5 Y 10 Y 8.3% GOI 2042 Central % GOI 2028 Central 2.14 Tata Power Bonds/NCDs % Food Corporation of India 2028Bonds % State Bank of Travancore 2026Bonds % State Bank of India 2023 Bonds % Rajasthan State 2025 State Development % Rajasthan State 2026 State Development % Rajasthan State 2024 State Development % Rajasthan State 2022 State Development % Rajasthan State 2023 State Development % GOI 2043 Central % Tata Steel Debenture % NTPC 2024 Debenture 0.95 Bank of Baroda Bonds % GOI 2041 Central 0.60

14 HDFC Income Fund - Regular Plan - Growth Scheme Obj Debt Income Launch Date Sep 11, 2000 Benchmark CRISIL COMPOSITE BOND Scheme Type Open-ended Fund Manager Shobhit Mehrotra AA+ 0.9% AA 1.0% AA- 2.1% AAA 5.7% SOV 83.3% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0%

15 Tel , FaxNo, HDFC Medium Term Opportunities Fund - Regular Plan - Growth Benchmark CRISIL COMPOSITE BOND Scheme Obj Debt Income Scheme Type Open-ended Launch Date Jun 29, 2010 Fund Manager Anupam Joshi The scheme seeks to generate regular income through investments in Debt/Money Market Instruments and Government Securities with maturities not exceeding 60 months. Entry N.A. Exit N.A. Ex. Ratio 0.27 Current Nav ( ) Equity 0.00 Corpus (Cr.) 4, Holding Instrument Net Asset (%) Debt % HDFC 2020 Debenture Week High (10/08/ % Rajasthan State 2021 State Development 4.54 Other Week Low (13/08/ % Rural Electrification 2020 Bonds % Rural Electrification 2019 Bonds % Power Finance Corp Bonds 4.25 Alpha 2.28 Mean % State Bank of Punjab 2019 State Development 4.17 Beta 0.93 Std. Deviation % Export-Import Bank 2021 Bonds 4.00 Avg. Mat. Sharpe Ratio % ONGC Mangalore PetrochemiDebenture % Power Finance Corp Bonds 3.56 M. Duration Yr 8.73% LIC Housing Fin Debenture 3.03 YTM % 8.01% Rajasthan State 2020 State Development 3.01 Trailing s (%) Abs Ret for <=1 Yr & CAGR for >1 Yr 7.85% Power Finance Corp Bonds/Debentures M 3 M 6 M 1 Y 2 Y 3 Y 5 Y 10 Y 8.33% NTPC 2021 Bonds/NCDs % HDFC 2020 Debenture % National Bank Agr. Rur. Devp 2Debenture % Power Grid Corp Bonds % GOI 2021 Central % Petronet LNG 2019 Bonds/NCDs % Rural Electrification 2020 Debenture % L&T Finance 2017 Bonds % Power Grid Corp Bonds % HDFC 2019 Debenture % National Bank Agr. Rur. Devp 2Bonds/NCDs % Ultratech Cement 2018 Debenture % Power Finance Corp Non Convertible 1.11 Debenture AA+ 3.7% SOV 13.8% AAA 52.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%