FUND FACTSHEET MUTUAL FUND. May Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

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1 MUTUAL FUND FUND FACTSHEET May 2018 (Large Cap Fund) This product is suitable for investors who are seeking* Capital appreciation over long-term A portfolio that is predominantly in equity and equity-related securities of blue-chip large-cap companies. Moderately High 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 How to read the Factsheet? May 2018 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 `500 every 15th of the month in an equity fund for a period of three years. NAV The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. Entry Load A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/ agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is `100 and the entry load is 1%, the investor will enter the fund at `101. Exit Load Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is `100 and the exit load is 1%, the redemption price would be `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. R Square The R-squared figure demonstrates how much of a fund's movements can be explained by the movements in its benchmark index. The higher the R-squared figure, the more closely the fund's performance can be explained by its index, whereas a fund with a lower R-squared doesn't behave much like its index. Beta Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being 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. 01

3 Equity Market Commentary May 2018 Key Domestic News The outcome of Karnataka state elections, wherein JD(S) & Congress entered into an alliance to keep BJP out of power and results of 15 by-elections (4 Lok Sabha & 11 Assembly), are an indicator of efficacy of opposition party strategy of consolidating into non-bjp fronts for electoral gains.the success in implementation ofthis strategy should keep the political uncertainty elevated and a key overhang forthe markets. The total revenue collection under GST for the month of May stood at Rs. 94,016 crores. In a seasonally weak month,the collections are above the monthly average of Rs.89,885 crores in FY18,reflecting better compliance. India's GDP growth accelerated to 7.7% y-o-y in Q4FY18 from 7% in Q3,above consensus expectation of a 7.4% reading led by strong government spending and investments.internals suggest strong cyclical recovery is underway and likelyto sustain into H1FY19 before cooling offtowards the H2FY19. IMD in its second stage forecast of Monsoon has indicated 43% probability of a normal monsoon (97% of LPA) and 28% probability of below-normal monsoon. On the aggregate monsoon is likely to be normal but spatial distribution may throw up some surprises. Central and North-West India are expected to get normal rains while South Peninsula and North-east India are predicted to receive below normal rainfall. Key Domestic Economic Data India's manufacturing PMI came in at 51.2 in May down from 51.6 in April led byweak domestic demand. India's Services PMI fell to 49.6 from 51.4 in April, for the first time in three months as the new orders stagnated. However the forward looking sub index, business optimism index came in atthe highest since 2015 indicating that corporates expect demand to turn around quickly. CPI for April 2018 rose to 4.58% ahead of consensus estimate of 4.4% reading and vs. 4.24% last month. The uptick was led mainly by core inflation, which exceeded expectations at 6.0% and uptick in food inflation. IIP growth for March 2018 came in below expectation at 4.4% against consensus estimate 6.1% and. 7.1% reading last month and 4.1% last year reflecting broad based weakness in manufacturing sector. Key Global Events Political crisis in Italy sparked fears of Europe crisis only to douse quickly as the populist parties the 5 Star Movement and the League agreed to form a coalition government. Triggering fears of trade wars, Trump administration imposed tariffs on steel and aluminum imports from Europe, Canada and Mexico. Also, The White House is proceeding with its proposal to impose 25% tariffs on $50B worth of goods from China, and place new limits on Chinese investments in U.S. hightech industries,violating the agreement reached in Washington a few days ago. Brent crude prices rose above $80 on growing concerns possible new sanctions against Iran, collapse of Venezuela's oil industry and continued supply discipline by OPEC & Russia. Emerging market currencies have been under pressure in recent months on account of strength in US Dollar and monetary policy tightening from major central banks,triggering fear offull blow sovereign default crisis. Outlook India's high frequency data continues to indicate that economic recovery continues to be robust. Improving GST collection numbers and a forecast for normal monsoon augurs well for Indian economy and markets. Q4FY18 earnings season was broadly in line with expectations,barring a few howlers,large cap space has held up well.we expect earning growth to remain strong for atleast next 6 quarters. Political uncertainty around 2019 general elections is likely to keep markets volatile. Also geo-politics, fears of trade war, emerging market currency depreciation,crude oil prices etc are key risks to our outlook.. We maintain our positive view on Indian equities over medium to long term and believe any small correction is a buying opportunity. STPs and SIPs should be preferred route in nearterm.we continue to prefer large caps over mid & small caps. Sumit Bhatnagar, CFA Head - Equity 02

4 Debt Market Commentary May st May Month Opening Intra Month High Intra Month Low Month Closing Overnight Rate (NSE MIBOR) 10-Year G-Sec 3 Month Cds 6 Month Cds 12 Month Cds Currency - INR/USD 10 Year (U.S.) Treasury yield The Economy Inflation RBI - Monetary policy Liquidity India s economy continues to recover from the policy disruptions on account of demonetization and GST. GDP growth came in at 7.7% for the 4th quarter of FY2018, the highestin nearlytwoyears,led bya pickup in agriculture,manufacturing and construction.economic growth inthe justconcludedfinancialyearfy2018was 6.7%, a tad higher than previously estimated,but slower than 7.1% in the previous year.the finance ministry,has kept unchanged,its growth forecast for the current year at 7.5%. Industrial production (IIP) grew by 4.4% in March compared to 7.1% in the previous month. Cumulatively, industrial growth for FY2018 was 4.3%, down from 4.6% in FY2017.The infrastructure orcore sectorexpanded 4.7% inapril upfrom 4.4% in March. Trade deficit widened marginally to $13.72 billion in April from US$13.25 billion a year ago. The full year trade deficit for FY2018 grew to US$156.8 billion from US$ billion inthe previousyear,driven mainlybya rising oil importbill. The central government fiscal deficit for FY2018 came in at 5.92 lakh crore, 3.53% (of GDP), nearly matching its revised target of 3.5%.The government had revised its FY2018 fiscal deficittarget in Februaryto 3.5% from 3.2% previously.forthe currentfiscal year; the government has aimed to cutthe deficitto 3.3%.The deficitfor April came in at 1.52 lakh crore which is 24.3% of the government s estimate for the full financial year, lower than 37.6% during the corresponding period of the previous year. Foreign fund inflows continue to be impacted in the backdrop of exits across emerging markets assets. FPIs sold (net) debt worth 19,654 crores in May, taking the total to nearly 40,000 crores since February. Foreign exchange reserves decreased to US$412.8 billion as on May 25, 2018 from US$420.4 billion on April 27, The reserves fell for the 6th consecutive week, down from a record high of $ billion touched on April 13, 2018, partly due to central bank intervention in the foreign exchange marketto curb INRvolatility. CPI inflation hardened to a 3-month high of 4.58% in April from 4.24% in March, with the transport and communication sector inflation rising steeply. Core inflation which had remained anchored for many months, moved sharply higher in April. It rose to 5.92% from 5.37% in the previous month, due to a rise in inflation of education, clothing and footwear. Wholesale (WPI) inflation hardened to a 4 month high of 3.2% in April from 2.5% in the previous month led by higher inflation in bothfuel andfood. In its latest policy meeting from June 4-6,2018,the MPC 'hiked' the repo rate by 25 bps to 6.25% citing upside risks to inflation but kept the policy stance at 'neutral',given the impending uncertainty.the rationale behind the rate hike stems largelyfrom the recent spike in core inflation,rising crude oil prices and the INR movement amidstthe global financial market turbulence.the decision to maintain a neutral stance suggests that the MPC did not want to signal that it is embarking on a tightening cycle and remains data dependent. Inflation (CPI) projection revised higherto % in H1FY19 and 4.7% in H2,(April policyprojections: % in H1 and 4.4% in H2),with riskstiltedtothe upside. Economic (GDP) growth for FY 2019 is retained at 7.4% as in the April policy. is projected in the range of % in H1 and % in H2,with risks evenly balanced. Liquidity in the system remained generally in surplus during the month. Surplus liquidity moderated considerably in the 1st half of May and moved into deficit in the 3rdweekmainlydueto inflows on accountofgst. RBI conducted an OMO on May 17, 2018 to inject liquidity of 10,000 crore into the system. Liquidity turned surplus in the last week mainly on payment of food subsidies.surplus liquidityabsorbed underthe LAF on a dailynetaverage basis declinedto below 14,000 crores in Mayfrom nearly 50,000 crores inapril. The WACR at around 5.89% remained broadly at the April level.liquidity which is in surplus currently due to government spending is likely to move back to neutral in mid-june on advancetaxpayments. Outlook Indian debtmarkets closed lowerforthe 2nd consecutive month in Mayon higherdomestic inflation,tracking rising crude oil prices,asthe local currencyweakened by over 1.1% against the U.S dollar.brent crude oil contract rose over 5% in May touching $80.5 per barrel,a 3.5 year high.the 10-year U.S.treasury yield rose to a 7-year high of3.13% duringthe month.the benchmarksovereign 10-yearIndia g-secyield rose 6 bps in May,trading in awide 40 bps range. Beyondthe RBI policymeeting,marketswilltrade on incremental data-tracking crude oil prices,core inflation dynamics andthe monsoon.the markets have priced in higher policy rates and spreads remain at multi year highs.india s stronger macro fundamentals make it much more likelythat itwill be able to weather any global selloffin emerging marketassets relativelywell. The front end of the yield curve remains attractive providing a substantial carry at current yield levels. Duration funds could see higher volatility but the present yield levels provide an attractive opportunity for long-term deployment of funds with a 1-3 year time horizon. A low duration accrual strategy continues to remain our preferred strategy. We recommend lower maturity ultra-short-term and short term fund for deployment of temporary surpluses. Liquid fund will always continue to be smartinvestmentvehicleforovernightinvestments. Malay Shah Head Fixed Income 03

5 Capitalisation Large Medium Small Indiabulls Blue Chip Fund Large Cap Fund Investment Objective To provide long-term capital appreciation from a portfolio that is predominantly in equity and equity-related securities of blue-chip large-cap companies. However there can be no assurance that the investment objective of the scheme will be achieved. Standard Deviation Fund Snapshot Inception Date (Date of Allotment) 10th February, 2012 Nifty 50 TRI Mr. Sumit Bhatnagar (Managing Fund Since December 17, 2012) Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `.1/- thereafter Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: a) 1% if redeemed/ switched out within 1 year from the date of allotment. b) NIL, if redeemed/ switched out after 1 year from the date of allotment. Quantitative / Volatility Measures Sharpe Ratio* 0.42 Portfolio Turnover 3.06 Portfolio (Top 10 holdings) Company Name Category Industry % of Assets HDFC Bank Ltd Equity Shares Banks 8.88% Mahindra & Mahindra Ltd Equity Shares Auto 6.67% Housing Development Finance Corporation Ltd Equity Shares Finance 6.67% Reliance Industries Ltd Equity Shares Petroleum Products 6.60% Tata Consultancy Services Ltd Equity Shares Software 6.56% Yuken India Ltd Equity Shares Auto Ancillaries 5.56% Maruti Suzuki India Ltd Equity Shares Auto 5.16% Larsen & Toubro Ltd Equity Shares Construction Project 4.05% Kotak Mahindra Bank Ltd Equity Shares Banks 4.02% Britannia Industries Ltd Equity Shares Consumer Non Durables 3.89% Top of Top Ten Holdings 58.06% Total Holdings* 93.81% Cash & Cash Equivalents 6.19% Grand Total % *Including Futures Sectoral Allocation (TOP 10 Holdings) 16.00% 12.00% 8.00% 4.00% 14.46% 14.41% 12.63% 9.21% 8.22% 8.14% 6.57% 5.56% 4.72% 4.40% 5.49% Beta 1.01 R Square 0.85 Expense Ratio No. of Stocks * Annualised. Risk free rate assumed to be 6.00 (FBIL OVERNIGHT MIBOR) % Auto Banks Consumer Non Durables Software Finance Petroleum Products Construction Project Auto Ancillaries Gas Cement Others Dividend Half Yearly Div. Quarterly Div. Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM NAV of Plans / Options Per Unit ` ` ` ` ` Dividend Half Yearly Div. Quarterly Div. 0.93% 2.58% ` Crore ` Crore ` ` ` ` ` SIP Investment Amount (Rs.) Scheme * Additional ** 1,20, ,24, ,27, ,29,134 3,60, ,42, ,47, ,51,139 6,00, ,42, ,35, ,35,319 7,60, ,69, ,69, ,73,260 *NIFTY 50-TRI, **S&P BSE SENSEX-TRI. Systematic Investment Plan (SIP) returns are worked out assuming investment of /- every month at NAV per unit of the scheme as on the first working day for the respective time periods. The loads have not been taken into account. Past performance may or may not be sustained in future. The performance details provided herein are of. are for option only. Fund Style Performance Report () Investment Style Blend Value Scheme * Additional ** , , , , , , , , , , , , *NIFTY 50-TRI, **S&P BSE SENSEX-TRI. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 04

6 Capitalisation Large Medium Small Indiabulls Tax Savings Fund ELSS Investment Objective The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity- related Securities. The scheme shall offer tax benefits under Section 80C of the Income Tax Act. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. Fund Snapshot Inception Date (Date of Allotment) 28th December, 2017 S&P BSE 500 TRI Mr. Sumit Bhatnagar (Managing Fund ) Mr. Malay Shah (Managing Fund ) Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `500/- thereafter Minimum Additional Investment `500 and in multiples of `500/- thereafter. Portfolio (Top 10 holdings) Company Name Category Industry % of Assets Yuken India Ltd Equity Shares Auto Ancillaries 9.47% Mahindra & Mahindra Ltd Equity Shares Auto 6.45% HDFC Bank Ltd Equity Shares Banks 6.43% Kotak Mahindra Bank Ltd Equity Shares Banks 4.97% Larsen & Toubro Ltd Equity Shares Construction Project 4.90% Reliance Industries Ltd Equity Shares Petroleum Products 4.84% Maruti Suzuki India Ltd Equity Shares Auto 4.71% Mindtree Ltd Equity Shares Software 3.63% Bombay Burmah Trading Corporation Ltd Equity Shares Consumer Non Durables 3.47% Nestle India Ltd Equity Shares Consumer Non Durables 3.39% Top of Top Ten Holdings 52.26% Total Holdings 95.28% Cash & Cash Equivalents 4.72% Grand Total % Load Structure (as % of NAV) Entry Load : Not Applicable Exit Load : Nil. Standard Deviation Beta 0.91 Quantitative / Volatility Measures Sharpe Ratio* R Square 0.86 Expense Ratio Portfolio Turnover 0.38 No. of Stocks * Annualised. Risk free rate assumed to be 6.00 (FBIL OVERNIGHT MIBOR) % 12.00% 8.00% 4.00% 0.00% Sectoral Allocation (TOP 10 Holdings) 15.12% 13.45% 11.49% 11.16% Consumer Non Durables Banks Auto Ancillaries Auto 6.72% 6.71% 6.60% Construction Project Software Petroleum Products 13.84% 4.18% 3.12% 2.89% Construction Retailing Textile Products Others 1.82% 2.74% Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM ` Crore ` Crore NAV of Plans / Options Per Unit Dividend ` ` Dividend ` ` Fund Style Investment Style Blend Value Since the fund is in existence for less than one year, the performance of the same is not shown. 05

7 Capitalisation Large Medium Small Indiabulls Value Discovery Fund Value Fund Investment Objective The primary objective of the Scheme is to seek to generate capital appreciation by investing in a portfolio of Equity and Equity related securities of companies that meet the relative value criteria and fall within top 500 by market cap. A company is considered as showing high relative value if it has a combination of higher RoCE and higher earnings yield. However, there can be no assurance that the investment objective of the scheme will be achieved. Standard Deviation Beta 0.99 Fund Snapshot Inception Date (Date of Allotment) 8th September, 2015 S&P BSE 500 TRI Mr. Sumit Bhatnagar (Managing Fund ) Mr. Malay Shah (Managing Fund ) Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `.1/- thereafter Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: a) 1% if redeemed/ switched out within 1 year from the date of allotment. b) NIL, if redeemed/ switched out after 1 year from the date of allotment Quantitative / Volatility Measures Sharpe Ratio* 0.27 R Square 0.80 Expense Ratio NAV of Plans / Options Per Unit Portfolio Turnover 1.03 No. of Stocks * Annualised. Risk free rate assumed to be 6.00 (FBIL OVERNIGHT MIBOR) Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM Dividend Half Yearly Div. Quarterly Div. ` ` ` ` ` Dividend Half Yearly Div. Quarterly Div % 2.94% ` Crore ` Crore ` ` ` ` ` Portfolio (Top 10 holdings) Company Name Industry % of Assets Hexaware Technologies Ltd Software 4.51% Sterlite Technologies Ltd Telecom - Equipment & Accessories 4.01% Infotech Enterprises Ltd Software 3.85% GHCL Ltd Chemicals 3.56% Tata Global Beverages Ltd. (Ex- Tata Tea Ltd) Consumer Non Durables 3.52% JSW Steel Ltd Ferrous Metals 3.50% Exide Industries Ltd Auto Ancillaries 3.48% Phillips Carbon Black Ltd Chemicals 3.48% Kalpataru Power Transmission Ltd Power 3.35% Supreme Industries Ltd Industrial Products 3.28% Top of Top Ten Holdings 36.54% Total Holdings* 89.67% Cash & Cash Equivalents 10.33% Grand Total % *Including Futures 24.00% 20.00% 16.00% 12.00% 8.00% 4.00% 0.00% Sectoral Allocation (TOP 10 Holdings) SIP 9.28% 8.36% 8.04% 8.03% 7.80% 7.50% 6.62% 5.18% 4.01% 3.35% Chemicals Software Investment Amount (Rs.) Auto Ancillaries Gas Consumer Non Durables Scheme * Additional ** 1,20, ,16, ,25, ,27,190 NA NA 3,30, ,76, ,12, ,07,779 *S&P BSE 500-TRI, **Nifty 50-TRI. Systematic Investment Plan (SIP) returns are worked out assuming investment of /- every month at NAV per unit of the scheme as on the first working day for the respective time periods. The loads have not been taken into account. Past performance may or may not be sustained in future. The performance details provided herein are of. are for option only. Pesticides Ferrous Metals Industrial Products Telecom - Equipment & Accessories Power 20.40% Others Fund Style Performance Report () Investment Style Blend Value Scheme * Additional ** , , , , , , *S&P BSE 500-TRI, **Nifty 50-TRI. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 06

8 Indiabulls Arbitrage Fund Arbitrage Fund Investment Objective To generate income by predominantly investing in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. There is no assurance or guarantee that the investment objective of the scheme will be realized. Fund Snapshot Inception Date (Date of Allotment) 19th December, 2014 CRISIL Liquid Fund Index Mr. Sumit Bhatnagar (Managing Fund ) Mr. Malay Shah (Managing Fund ) Minimum Investment Amount (for fresh application) ForLumpsum : `500 and in multiples of `1/-thereafter ForSIP : `1,000 and in multiples of` 1/-thereafter Minimum Additional Investment `500 and in multiples of `1/- thereafter. Portfolio (Top holdings) Company Name Industry/Rating % of Assets Equity & Equity Related Sun Pharmaceuticals Industries Ltd Pharmaceuticals 5.88% Dewan Housing Finance Corp. Ltd Finance 5.57% Housing Development Finance Corporation Ltd Finance 5.49% State Bank Of India Banks 4.25% Reliance Industries Ltd Petroleum Products 3.97% Bharti Airtel Ltd Telecom - Services 3.85% L&T Finance Holdings Ltd Finance 3.27% United Spirits Ltd Consumer Non Durables 3.25% Infibeam Incorporation Ltd Software 2.60% Century Textiles & Industries Ltd Cement 2.42% Total Of Top Ten Holdings 40.55% Total Holdings 65.06% Margin Fixed Deposits 14.53% Debt Securities Shapoorji Pallonji & Co. Pvt Ltd A % Bajaj Finance Ltd A % State Bank Of Patiala AAA 0.92% NABARD A % Sub-Total 23.09% Cash & Cash Equivalents/CBLO -2.68% Grand Total % Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: a) 0.25%, if redeemed/ switched out within one month from the date of allotment. b) Nil, if redeemed/ switched out after one month from the date of allotment. Standard Deviation Beta 0.93 Quarterly Div. Half Yearly Div. Yearly Div. Quantitative / Volatility Measures Expense Ratio Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM NAV of Plans / Options Per Unit ` ` ` ` ` Sharpe Ratio* 0.76 R Square 0.28 Quarterly Div. Half Yearly Div. Yearly Div. Portfolio Turnover 1.76 No. of Stocks * Annualised. Risk free rate assumed to be 6.00 (FBIL OVERNIGHT MIBOR) % 1.00% ` Crore ` Crore ` ` ` ` ` % 16.00% 12.00% 8.00% 4.00% 0.00% 18.11% Finance Sectoral Allocation (TOP 10 Holdings) 6.83% 5.37% 3.97% 3.85% 3.46% 3.25% 3.06% 2.60% 2.44% 07 Pharmaceuticals SIP Investment Amount (Rs.) Banks Petroleum Products Telecom - Services Performance Report () Textile Products Consumer Non Durables Cement Software Non - Ferrous Metals 12.12% Scheme * Additional ** *CRISILLiquid Fund Index, **CRISIL1 Yr T-Bill Index Systematic Investment Plan (SIP) returns are worked out assuming investment of /- every month at NAV per unit of the scheme as on the first working day for the respective time periods. The loads have not been taken into account. Past performance may or may not be sustained in future. The performance details provided herein are of. are for option only. Scheme * Additional ** *CRISILLiquid Fund Index, **CRISIL1 Yr T-Bill Index greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. Others 1,20, ,23, ,24, ,23,645 3,60, ,95, ,00, ,95,620 NA 4,20, ,69, ,76, ,70, , , , , , , , , ,623.01

9 Interest Rate Sensitivity Indiabulls Savings Income Fund Conservative Hybrid Fund Investment Objective The primary objective of the Scheme is to generate regular monthly returns through investment primarily in debt securities. The secondary objective of the Scheme is to generate long-term capital appreciation by investing a portion of the Scheme's assets in equity securities. Fund Snapshot Inception Date (Date of Allotment) 02th December, 2015 CRISIL Hybrid Conservative Index Mr. Malay Shah (Managing Fund ) Mr. Sumit Bhatnagar () Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `1/- thereafter Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: a) 1%, if redeemed/ switched out within 1 year from the date of allotment. b) Nil, if redeemed/ switched out after 1 year from the date of allotment. Quantitative / Volatility Measures Portfolio (Top holdings) Company Name Industry/ % of Rating Assets NON - CONVERTIBLE DEBENTURES Reliance Gas Transportation AAA 9.70% Infrastructure Ltd Tanglin Developments Ltd A-(SO) 9.64% Indiabulls Housing Finance Ltd AAA 9.60% Reliance Big Entertainment Pvt Ltd AA+(SO) 9.48% Dewan Housing Finance Corp. Ltd AAA 9.46% Reliance Broadcast Network Ltd AA+(SO) 9.41% Avanse Fin Ser Ltd AA+(SO) 9.36% North Karnataka Expressway AAA 3.16% LIC Housing Finance Ltd AAA 2.84% ONGC Mangalore AAA 2.21% Petrochemicals Ltd Forbes Technosys Ltd AA-(SO) 1.89% Hero Wind Energy Ltd A 1.71% Reliance Jio Infocomm Ltd AAA 0.57% Sub-Total 79.03% Company Name Industry/ % of Rating Assets EQUITY SHARES Yuken India Ltd Auto Ancillaries 9.58% Indian Oil Corporation Ltd Petroleum Products 1.20% Maruti Suzuki India Ltd Auto 1.12% Mahindra & Mahindra Ltd Auto 1.11% Bombay Burmah Trading Consumer 1.00% Corporation Ltd Non Durables Dewan Housing Finance Corp. Ltd Finance 0.94% Mindtree Ltd Software 0.91% KNR Constructions Ltd Construction 0.48% NCC Ltd Construction 0.44% (Ex-Nagarjuna Constrn Co. Ltd) Project Action Const Equip Ltd Industrial 0.41% Capital Goods Sub-Total 17.19% Cash & Cash Equivalents 3.78% Net Receivable/Payable Grand Total % Standard Deviation Beta 0.49 Sharpe Ratio* 0.86 R Square 0.20 Expense Ratio Portfolio Turnover N.A No. of Stocks * Annualised. Risk free rate assumed to be 6.00 (FBIL OVERNIGHT MIBOR) Maturity and Yield Average Maturity 1.16 Years Modified Duration 1.00 Years Gross YTM 8.37% 10 Sectoral Allocation Auto Ancillaries Auto Petroleum Products Consumer Non Durables Finance Software Construction 1.00% 0.94% 0.91% 0.48% 2.23% 1.20% 9.58% Rating Profile AA+(SO) 28.25% AA-(SO) A 1.89% 1.71% AAA 37.54% Fund Size (as on May 31, 2018) 0.35% 2.70% Construction Project Industrial Capital Goods 0.44% 0.41% A-(SO) 9.64% Monthly Average AUM Month End AUM ` Crore ` Crore Note : CBLO/Reverse Repo/Net Current Assets of 20.97% NAV of Plans / Options Per Unit ` ` Fund Style Credit Quality ` ` Performance Report () Scheme * Additional ** , , , , , , *CRISILHybrid Conservative Index, **CRISIL1 Yr T-Bill Index. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 08

10 Interest Rate Sensitivity Indiabulls Short Term Fund Short Duration Fund Credit Quality Rating-IVR AAAmfs Investment Objective The Scheme will endeavor to generate stable returns over short term with a low risk strategy while maintaining liquidity through a portfolio comprising debt and money market instruments such that the Macaulay duration of the portfolio is between 1 year 3 years. However, there can be no assurance that the investment objective of the scheme will be achieved. Fund Snapshot Inception Date (Date of Allotment) 13th September, 2013 CRISIL Short-Term Bond Fund Index Mr. Karan Singh (Managing Fund Since April 16, 2018) Total Work Experience: 14 years Minimum Investment Amount (for fresh application) Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: Nil Maturity and Yield Portfolio (Top 10 holdings) Company Name Category Rating % of Assets Tanglin Developments Ltd Fixed rates bonds - Corporate A-(SO) 21.98% Forbes Technosys Ltd Fixed rates bonds - Corporate AA-(SO) 17.71% Avanse Financial Services Ltd. Fixed rates bonds - Corporate AA+(SO) 10.96% State Bank Of Patiala Fixed rates bonds - Corporate AAA 9.36% Reliance Broadcast Network Limited Mumbai Fixed rates bonds - Corporate AA+(SO) 9.18% Reliance Big Entertainment Private Ltd Fixed rates bonds - Corporate AA+(SO) 8.78% India Infoline Housing Finance Ltd Commercial Papers A % L&T Housing Finance Ltd. Commercial Papers A % Energy Efficiency Services Ltd. Fixed rates bonds - Corporate AA 2.76% Punjab & Sind Bank Fixed rates bonds - Corporate AA 2.47% Total of Top Ten Holdings 90.98% Total Holdings 95.06% CBLO/Reverse Repo/Net current assets 4.94% Grand Total % Rating Profile Composition of Asset Modified Duration 1.26 Years Average Maturity 1.48 Years Gross YTM 11.09% A % A % AAA 12.03% CBLO/Reverse Repo/ Net Current Assets 4.94% Commercial Papers 7.78% Expense Ratio Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM 0.50% 1.50% ` Crore ` Crore For Lumpsum & SIP : `500 and in multiples of `1/- thereafter AA % AA 5.86% AA % Note : CBLO/Reverse Repo/Net Current Assets of 4.94% Fixed Rates Bonds - Corporate 87.28% Weekly Div. Fortnightly Div. NAV of Plans / Options Per Unit ` ` ` ` Fund Style Credit Quality Weekly Div. Fortnightly Div. ` ` ` ` Performance Report () Scheme * Additional ** , , , , , , , , , *CRISILShort Term Bond Fund Index, **CRISIL1 Yr T-Bill Index. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 09

11 Interest Rate Sensitivity Indiabulls Income Fund Medium Duration Fund Investment Objective The primary investment objective of the Scheme is to generate a steady stream of income and medium to long term capital appreciation/gain through investment in fixed income securities such that the Macaulay duration of the portfolio is between 3 years 4 years. Portfolio Macaulay duration under anticipated adverse situation is 1 year to 4 years. However, there can be no assurance that the investment objective of the Scheme will be achieved. Fund Snapshot Inception Date (Date of Allotment) 04th March, 2013 CRISIL Composite Bond Fund Index Mr. Karan Singh (Managing Fund Since April 16, 2018) Total Work Experience: 14 years Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `1/- thereafter Minimum Additional Investment `500 and in multiples of `1/- thereafter. Portfolio (Top holdings) Company Name Category Rating % of Assets Energy Efficiency Services Ltd. Fixed rates bonds - Corporate AA 30.26% 7.17% GOI - 08-Jan-2028 Fixed rates bonds - Government SOV 20.91% Tanglin Developments Ltd Fixed rates bonds - Corporate A-(SO) 9.10% Reliance Jio Infocomm Ltd Fixed rates bonds - Corporate AAA 8.80% Edelweiss Commodities Services Ltd Fixed rates bonds - Corporate AA 8.78% Avanse Financial Services Ltd. Fixed rates bonds - Corporate AA+(SO) 6.40% Dewan Housing Finance Corp. Ltd Fixed rates bonds - Corporate AAA 5.05% 6.97% GOI - 06-Sep-2026 Fixed rates bonds - Government SOV 3.07% 7.61% GOI 09-May-2030 Fixed rates bonds - Government SOV 0.02% Total Holdings 92.39% CBLO/Reverse Repo/Net current assets 7.61% Grand Total % Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: Nil Modified Duration 3.09 Years Maturity and Yield Average Maturity 4.24 Years Expense Ratio Gross YTM 9.28% Rating Profile SOV 24.00% AAA 13.85% AA+ 6.40% Composition of Asset Fixed rates bonds - Government 24.00% CBLO/Reverse Repo/ Net Current Assets 7.61% 0.26% 0.77% A- 9.10% AA 39.04% Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM ` 9.21 Crore ` 9.15 Crore Note : CBLO/Reverse Repo/Net Current Assets of 7.61% Fixed rates bonds - Corporate 68.39% Quarterly Div. Half Yearly Div. NAV of Plans / Options Per Unit ` ` ` ` Fund Style Credit Quality Quarterly Div. Half Yearly Div. ` ` ` ` Performance Report () Scheme * Additional ** , , , , , , , , , , , , *CRISILComposite Bond Fund Index, **CRISIL1 Yr T-Bill Index. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 10

12 Interest Rate Sensitivity Indiabulls Gilt Fund Gilt Fund Investment Objective The scheme seeks to generate income and capital appreciation by investing predominantly in sovereign securities issued by Central Government (including Treasury Bills) and/or by State Government, without any restriction on the maturity of the portfolio. However, there is no assurance that the investment objective of the scheme will be realized and the scheme does not assure or guarantee any returns. Fund Snapshot Inception Date (Date of Allotment) 10th January, 2013 I-Sec Composite Index Mr. Karan Singh (Managing Fund Since April 16, 2018) Total Work Experience: 14 years Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `1/- thereafter Portfolio (Top holdings) Company Name Category Rating % of Assets 7.17% GOI - 08-Jan-2028 Fixed rates bonds - Government SOV 59.77% 91 days Treasury Bill 26-Jul-2018 Treasury Bills SOV 16.51% 6.97% GOI - 06-Sep-2026 Fixed rates bonds - Government SOV 10.38% 7.20% Karnataka SDL 25-Jan-2027 Fixed rates bonds - Government SOV 3.24% Total Holdings 89.90% CBLO/Reverse Repo/Net current assets 10.10% Grand Total % Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: Nil Maturity and Yield Rating Profile SOV 89.90% Composition of Asset CBLO/Reverse Repo/ Net Current Assets 10.10% Treasury Bills 16.51% Modified Duration 4.79 Years Average Maturity 7.0s Gross YTM 7.49% Expense Ratio Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM 0.27% 1.25% ` Crore ` 4.80 Crore Note : CBLO/Reverse Repo/Net Current Assets of 10.10% Fixed rates bonds - Government 73.39% Weekly Div. Fortnightly Div. NAV of Plans / Options Per Unit ` ` ` ` Fund Style Credit Quality Weekly Div. Fortnightly Div. ` ` ` ` Performance Report () Scheme * Additional ** , , , , , , , , , , , , *I-Sec Composite Gilt Index, **CRISIL1 Yr T-Bill Index. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 11

13 Interest Rate Sensitivity Indiabulls Liquid Fund Liquid Fund Credit Quality Rating-CRISIL AAAmfs & IVR AAAmfs Investment Objective To provide a high level of liquidity with returns commensurate with low risk through a portfolio of money market and debt securities with maturity of upto 91 days. However, there can be no assurance that the investment objective of the scheme will be achieved. Modified Duration Days Fund Snapshot Inception Date (Date of Allotment) 25th October, 2011 CRISIL Liquid Fund Index Mr. Malay Shah (Managing Fund Since August 22, 2014) Minimum Investment Amount (for fresh application) For Lumpsum & SIP : `500 and in multiples of `1/- thereafter Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: Nil Maturity and Yield Average Maturity Days Gross YTM 7.10% Portfolio (Top 10 holdings) Company Name Category Rating % of Assets Treasury Bills Treasury Bills SOV 8.89% National Bank for Agriculture and Rural Development Commercial Papers A % Shapoorji Pallonji & Company Pvt Ltd. Commercial Papers A % The South Indian Bank Ltd Certificate of Deposit A % Dewan Housing Finance Corp. Ltd Commercial Papers A % Karnataka Bank Ltd Certificate of Deposit A % IDFC Bank Ltd Certificate of Deposit A % L&T Housing Finance Ltd. Commercial Papers A % Indusind Bank Ltd Certificate of Deposit A % Axis Bank Ltd Certificate of Deposit A % Total of Top Ten Holdings 51.95% Total Holdings % CBLO/Reverse Repo/Net current assets -2.15% Grand Total % Rating Profile AAA 2.16% Composition of Asset Fixed Rates Bonds - Corporate 2.16% CBLO/Reverse Repo/ Net Current Assets -2.15% Certificate Of Deposit 30.56% Expense Ratio Daily Div. Weekly Div. Fortnightly Div. Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM NAV of Plans / Options Per Unit ` ` ` ` ` Fund Style Credit Quality Daily Div. Weekly Div. Fortnightly Div. 0.07% 0.17% ` Crore ` Crore ` ` ` ` ` A1+/SOV/FD 99.99% Note : CBLO/Reverse Repo/Net Current Assets of -2.15% Performance Report () Scheme * Additional ** Commercial Papers 59.89% Treasury Bills 8.89% Fixed Deposit 0.65% , , , , , , , , , , , , *CRISILLiquid Fund Index, **CRISIL1 Yr T-Bill Index. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 12

14 Interest Rate Sensitivity Indiabulls Ultra Short Term Fund Ultra Short Duration Fund Credit Quality Rating-CRISIL AAAmfs Investment Objective To provide liquidity with returns commensurate with low risk through a portfolio of money market and debt securities such that the Macaulay duration of the portfolio is between 3 months - 6 months. Modified Duration Days Fund Snapshot Inception Date (Date of Allotment) 06th January, 2012 CRISIL Liquid Fund Index Mr. Malay Shah (Managing Fund Since August 22, 2014) Minimum Investment Amount (for fresh application) Minimum Additional Investment `500 and in multiples of `1/- thereafter. Load Structure (as % of NAV) Entry Load: Not Applicable Exit Load: Nil Maturity and Yield Average Maturity Days Gross YTM 7.96% Portfolio (Top 10 holdings) Company Name Category Rating % of Assets Bajaj Finance Ltd Fixed rates bonds - Corporate AAA 16.08% Shapoorji Pallonji & Company Pvt Ltd. Commercial Papers A % L&T Finance Ltd Commercial Papers A % National Bank for Agriculture and Rural Development Commercial Papers A % Dewan Housing Finance Corp. Ltd Fixed rates bonds - Corporate AAA 7.80% Dewan Housing Finance Corp. Ltd Commercial Papers A % North Karnataka Expressway Fixed rates bonds - Corporate AAA 6.27% Axis Bank Ltd Certificate of Deposit A % ONGC Mangalore Petrochemicals Ltd Fixed rates bonds - Corporate AAA 4.62% SBI Cards and Payment Services Pvt. Ltd. Commercial Papers A % Total of Top Ten Holdings 88.51% Total Holdings 98.46% CBLO/Reverse Repo/Net current assets 1.54% Grand Total % Rating Profile AAA 41.03% For Lumpsum & SIP : `500 and in multiples of `1/- thereafter AA- 1.23% Composition of Asset Fixed Rates Bonds - Corporate 42.26% CBLO/Reverse Repo/ Net Current Assets 1.54% Certificate Of Deposit 5.82% Expense Ratio Fund Size (as on May 31, 2018) Monthly Average AUM Month End AUM 0.30% 0.70% ` Crore ` Crore Note : CBLO/Reverse Repo/Net Current Assets of 1.54% A1+/SOV 56.20% Commercial Papers 50.38% NAV of Plans / Options Per Unit (as on May 31, 2018) ` Daily Div. ` Weekly Div. ` Fortnightly Div. - ` Fund Style Credit Quality Daily Div. Weekly Div. Fortnightly Div. ` ` ` ` ` Performance Report () Scheme * Additional ** , , , , , , , , , , , , *CRISILLiquid Fund Index, **CRISIL1 Yr T-Bill Index. greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 13

15 Riskometer May 2018 Riskometer Scheme name and Type of scheme This product is suitable for investors who are seeking* Riskometer Indiabulls Blue Chip Fund (Large Cap Fund) Indiabulls Tax Savings Fund (ELSS) Indiabulls Value Discovery Fund (Value Fund) Capital appreciation overlong-term Aportfoliothatis predominantlyin equityand equity-related securities ofblue-chip large-cap companies. ModeratelyHigh Risk The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantlyequityand equity-related Securities. An ELSS Scheme offeringtaxbenefits undersection 80C ofthe IncomeTaxAct ModeratelyHigh Risk Capital appreciation and provide long-term Capital growth. Investment primarily in companies that offer high relative value vis a-vis other companies and fall within top 500 by market capitalization. ModeratelyHigh Risk Indiabulls Savings Income Fund (Conservative Hybrid Fund) Indiabulls Short Term Fund (Short Duration Fund) Indiabulls Income Fund (Medium Duration Fund) Indiabulls Gilt Fund (Gilt Fund) Capital appreciation and provide regularincome overa long period oftime. Investment primarily in debt securities to generate regular returns and investment of a portion of the Scheme's assets in equitysecuritiesto generate long-term capital appreciation. Moderate Risk Stable returns overshorttermwhile maintaining liquidity. Through investmentin debtand moneymarketinstruments. Moderate Risk Regularincome and/orcapital appreciation overmediumto longterm. Through investmentinfixed income securities. Moderate Risk Income and capital appreciation overmediumto longterm. Through investment in sovereign securities issued by Central Government (including Treasury Bills) and/ or by State Government,withoutanyrestriction onthe maturityofthe portfolio. Moderate Risk Indiabulls Arbitrage Fund (Arbitrage Fund) Indiabulls Ultra Short Term Fund (Ultra Short Duration Fund) To generate reasonable returns overshortto mediumterm. Investment predominantly in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. Moderately Low Risk Liquiditywith commensurate returns overshortterm. Through investmentin moneymarketand debtsecurities. Moderately Low Risk Indiabulls Liquid Fund (Liquid Fund) High level ofliquiditywith commensurate returns overshortterm. Through investmentin moneymarket & debtsecuritieswith maturityofupto 91 days. Low Risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 14

16 PERFORMANCE DISCLOSURE May 2018 Disclosure on performance of other schemes managed by the fund manager Indiabulls Blue Chip Fund(G) Indiabulls Blue Chip Fund(G)- Scheme return % 1 year 3 years 5 years return Scheme return % Funds Managed by Mr. Sumit Bhatnagar return Scheme return % return Funds Managed by Mr. Sumit Bhatnagar & Mr. Malay Shah Indiabulls Value Discovery Fund-Reg(G) Indiabulls Value Discovery Fund(G) N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. Indiabulls Arbitrage Fund-Reg(G) N.A. N.A. Indiabulls Arbitrage Fund(G) N.A. N.A. Funds Managed by Mr. Malay Shah & Mr. Sumit Bhatnagar Indiabulls Savings Income Fund(G) Indiabulls Savings Income Fund(G) N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. Funds Managed by Mr. Malay Shah Indiabulls Liquid Fund(G) Indiabulls Liquid Fund(G)- Indiabulls Ultra Short Term Fund(G) Indiabulls Ultra Short Term Fund(G) Funds Managed by Mr. Karan Singh Indiabulls Short Term Fund(G) N.A. N.A. Indiabulls Short Term Fund(G) N.A. N.A. Indiabulls Income Fund-Reg(G) Indiabulls Income Fund(G)- Indiabulls Gilt Fund(G) Indiabulls Gilt Fund(G) Note: Indiabulls Value Discovery Fund, Indiabulls Savings Income Fund are in existence for more than 1 year but less than 3 years Indiabulls Short Term Fund and Indiabulls Arbitrage Fund are in existence for more than 3 years but less than 5 years NA - Not Applicable above are Compounded Annualised (CAGR). Past performance may or may not be sustained in future. All returns are for Option only. Details: Fund Name Indiabulls Blue Chip Fund(G) Indiabulls Value Discovery Fund-Reg(G) Indiabulls Savings Income Fund Indiabulls Arbitrage Fund-Reg(G) Indiabulls Liquid Fund(G) Indiabulls Ultra Short Term Fund(G) Indiabulls Short Term Fund(G) Indiabulls Income Fund-Reg(G) Indiabulls Gilt(G) Nifty 50 TRI S&P BSE 500-TRI CRISIL Hybrid Conservative Index CRISIL Liquid Fund Index CRISIL Short Term Bond Fund Index CRISIL Composite Bond Fund Index I-Sec Composite Index 15

17 Performance Report () May 2018 Indiabulls Blue Chip Fund Scheme NIFTY 50-TRI # S&P BSE SENSEX-TRI ## , , , , , , , , , , , , Indiabulls Value Discovery Fund Indiabulls Arbitrage Fund Indiabulls Liquid Fund Scheme S&P BSE 500-TRI # Nifty 50-TRI ## , , , , , , Scheme CRISIL Liquid Fund Index # CRISIL 1 Yr T-Bill Index ## , , , , , , , , , Scheme CRISIL Liquid Fund Index # CRISIL 1 Yr T-Bill Index ## , , , , , , , , , , , , Indiabulls Ultra Short Term Fund Scheme CRISIL Liquid Fund Index # CRISIL 1 Yr T-Bill Index ## Indiabulls Savings Income Fund Indiabulls Short Term Fund Indiabulls Income Fund Indiabulls Gilt Fund , , , , , , , , , , , , Scheme CRISIL Hybrid Conservative Index # CRISIL 1 Yr T-Bill Index ## , , , , , , Scheme CRISIL Short Term Bond Fund Index # CRISIL 1 Yr T-Bill Index ## , , , , , , , , , Scheme CRISIL Composite Bond Fund Index # CRISIL 1 Yr T-Bill Index ## , , , , , , , , , , , , Scheme I-Sec Composite Gilt Index # CRISIL 1 Yr T-Bill Index ## , , , , , , , , , , , , # ##, Additional greater than 1 year period are compounded annualized returns (CAGR). Load is not taken into consideration. Different plans shall have different expense structure. The performance details provided herein are of. are for Option only. In case the start/end date is non business day, the NAV of previous working day is used for computation. Please refer page no.15 for name of the other schemes currently managed by the s and relevant scheme for performance. Past performance may or may not be sustained in future. 16

18 Dividend History May 2018 Retail Investor INDIABULLS LIQUID FUND - MONTHLY OPTION ,000 1, , ,000 1, , ,000 1, , INDIABULLS ULTRA SHORT-TERM FUND - MONTHLY OPTION ,000 1, , ,000 1, , ,000 1, , INDIABULLS SHORT TERM FUND - MONTHLY OPTION ,000 1, , ,000 1, , ,000 NA 1, NA INDIABULLS INCOME FUND - MONTHLY OPTION NA NA INDIABULLS INCOME FUND - QUARTERLY OPTION INDIABULLS INCOME FUND - HALF YEARLY OPTION INDIABULLS GILT FUND - MONTHLY OPTION ,000 1, , ,000 1, , ,000 1, , INDIABULLS ARBITRAGE FUND - MONTHLY OPTION ^ ^ INDIABULLS ARBITRAGE FUND - HALF YEARLY OPTION NA NA INDIABULLS BLUE CHIP FUND - DIVIDEND OPTION NA NA * * INDIABULLS SAVINGS INCOME FUND - MONTHLY OPTION Corporate INDIABULLS LIQUID FUND - MONTHLY OPTION ,000 1, , NA ,000 1, , NA ,000 1, , NA INDIABULLS ULTRA SHORT-TERM FUND - MONTHLY OPTION ,000 1, , NA ,000 1, , NA ,000 1, , NA INDIABULLS SHORT TERM FUND - MONTHLY OPTION ,000 1, , NA ,000 1, , NA ,000 NA 1, NA NA INDIABULLS INCOME FUND - MONTHLY OPTION NA NA NA NA NA NA INDIABULLS INCOME FUND - QUARTERLY OPTION INDIABULLS INCOME FUND - HALF YEARLY OPTION INDIABULLS GILT FUND - MONTHLY OPTION ,000 1, , NA NA ,000 1, , NA NA ,000 1, , NA NA INDIABULLS ARBITRAGE FUND - MONTHLY OPTION ^ ^ INDIABULLS ARBITRAGE FUND - HALF YEARLY OPTION NA NA INDIABULLS BLUE CHIP FUND - DIVIDEND OPTION NA NA INDIABULLS SAVINGS INCOME FUND - MONTHLY OPTION NA NA NA INDIABULLS VALUE DISCOVERY FUND - MONTHLY OPTION No Dividend has been declared in this scheme * The record date being a non-business day, the NAV is shown of the earlier business day i.e. June 16, ^ The record date being a non-business day, the NAV is shown of the earlier business day i.e. May 25, For all above, Pursuant to payment of dividend, the NAV of the scheme will fall to the extent of dividend distribution and statutory levy (if any). Past performance may or may not be sustained in future. 17

19 Don't let your money remain idle even for 1 day. Let it earn more for you, without having to worry about liquidity. Instant access to your money 24x7 and 365 days a year (including on weekends, bank holidays & late nights). Redemption credit upto maximum `50,000 or 90% of the latest value of investment in the scheme (whichever is lower), per day, from Indiabulls Liquid Fund into your bank account.