Edelweiss Emerging. Leaders Fund. Edelweiss Mutual Fund Factsheet - September Edelweiss Select Midcap Fund*

Transcription

1 Scan QR Code with your mobile and learn more. If you don t have the QR reader, simply download one of the many free applications available for your handset!!! Mutual Fund Factsheet - Select Midcap Fund* Emerging ^ Leaders Fund *The fundamental attributes of the scheme underwent a change w.e.f. August 5, whereby the Scheme name has been changed to Emerging Leaders Fund to better reflect the Investment Objective and philosophy of the Scheme. ^The Scheme is an open - ended equity Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns. to create wealth in long term investment predominantly in equity and equity related securities including equity derivatives of Mid and Small Cap companies. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH will be at moderately high risk Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

2 Reasons to invest in Emerging Leaders Fund å å å Flexibility: Mid and Small cap companies have more flexibility compared to larger companies to refine their product offering to meet the market demands : They have the potential to deliver higher returns in the long-term compared to large caps Multi Dimensional Approach: Emerging Leaders Fund follows a multi dimensional approach by evaluating companies on criteria like whether they are: emerging industry leaders, climbing value curve, consistent performers, counter cyclicals or companies with unique advantage. Who is it suitable for: å å Investors with a moderately high risk profile Investors looking to invest for a medium to long term in equities as an asset class EAML: Investment advantage Fundamental Factor Driven Approach Ÿ Ÿ Tested worldwide; roots in academic literature Bottom up stock selection based on fundamental data Systematic Process Ÿ Ÿ Clear identification of sources of risk and returns Disciplined and data driven process Multi factor approach Ÿ Ÿ Consistency across market scenarios No oversized bets on individual stocks and companies Quality at a reasonable price Ÿ Ÿ Quality, value and safety focus leading to lower volatility and drawdown Superior risk adjusted returns over the long term T O L L F R E E N O N T O L L F R E E S M S IQ to W E B S I T E INVESTORS emfhelp@edelweissfin.com

3 Index Markets & Beyond Equity Market Outlook PAGE NO. 6 Debt Market Outlook 7 Equity Funds Absolute Return Fund* An Open-ended Equity Scheme (*The Scheme is an equity-oriented Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns) Diversified Growth Equity Top 100 (E.D.G.E. Top 100) Fund An Open-ended Equity Scheme ELSS Fund An Open-ended Equity Linked Savings Scheme Emerging Leaders Fund An Open-ended Equity Scheme Opportunities Fund An Open-ended Equity Scheme Arbitrage Fund An Open Ended Equity Scheme PAGE NO Fixed Income Funds Liquid Fund An Open-ended Liquid Scheme Ultra Short Term Bond Fund An Open-ended Debt Scheme Short Term Income Fund An Open-ended Income Scheme Gilt Fund An Open-ended Gilt Scheme Debt and Corporate Opportunities Fund An Open-ended Hybrid Scheme PAGE NO

4 Markets & Beyond EQUITY MARKET OUTLOOK WHAT WE SAID LAST TIME In midst of stronger economic data and cautious commentary by the Fed president William Dudley, FED's decision to hike rates in FOMC meeting shall be one of the key events to be watch out for this month. The current crisis management by China will continue to be a overhang which could further dampen the sentiments. Weak commodities prices and lower than expected inflation numbers have resulted in abatement of inflationary risk for India to a large extent. This when coupled with downward revision of GDP expectations by Fitch and Moody's makes for a strong case for a benchmark rate cut by RBI later this month. Any deviations from this expectation will lead to increased volatility in the markets. We expect Nifty to be in the range to for the coming month, barring tail event. WHAT HAPPENED? Though domestic markets (Nifty: -0.3%) were flat on MoM basis, volatility did not subside amidst heightened global uncertainty. OECD lowered its global growth forecast to 3% in (3.1% earlier) and 3.6% in 2016 (3.8%) while IMF chief indicated global economic growth to be weak against earlier expectations. Further, Volkswagen's admission of fraud in emission software, risk of pricing control in biotechnology space in the US and Brazil's credit downgrade to junk multiplied risk aversion scenario. Global markets (MSCI World -3.9%) were impacted led by Germany (DAX: -5.8%) while the emerging markets (MSCI EM: -3.3%) continued to trend lower. FIIs were net sellers for second consecutive month to the extent of Rs. 6,475 crores. The US Fed delayed interest rate hike in its FOMC meeting led by fragile global environment, tepid recovery in commodities that led to minimal inflationary expectations, a rising dollar and elevated volatility. With the jobs data relatively weak (non-farm payrolls increased by 142,000 in against 203,000 expected) and flat hourly wage growth, probability of a possible rate hike in has further diminished. Following global cues, the RBI reduced the key benchmark rates by 50 bps to 6.75% (four-year low), and indicated it would maintain an accommodative stance. The central bank lowered its CPI forecast for Jan 2016 to 5.8% (6% earlier) and set new inflation target for March 2017 at 4.5%. However, it also downgraded India's FY16 GDP forecast to 7.4% from 7.6% earlier led by slack in demand. RBI has front-loaded its policy action and cited the transmission of lower rates (overall 125 bps reduction in ) to consumers as the agenda going ahead that could provide impetus to domestic growth given muted export environment. RBI also proposed a new method to calculate base rate for banks, based on marginal cost of funds, which could speed up the transmission process. IMD data suggests south-west monsoon (June- ) ended with 14% deficit as the country received mm rainfall as against normal average of mm. Nevertheless, inflation continued to remain stable as CPI for August came in at 3.66%, lowest in last nine quarters. IIP showed recovery with a growth 4.2%, higher than consensus expectations. OUTLOOK FOR THE COMING MONTH Though the central bank may not anchor its decision on one economic indicator, US non-farm payrolls data for were disappointing that could further postpone rate hike prospects. Hence, the FOMC meeting would be a key event to watch out for at the end of the month. This coupled with measures by Chinese authorities could dominate global news flow. With Q2FY16E earnings season set to kick in from the second week of October, company specific triggers could supersede trends in broader markets. Commentary from export-oriented companies (IT, autos) could provide insights in the global demand scenario while domestic players could highlight pickup in the investment cycle. Commodity consumers could continue to benefit from lower raw material inputs. We expect Nifty to be in the range to for the coming month, barring tail event. MACRO-ECONOMIC INDICATORS July IIP growth rose to 4.20% YoY vs % YoY in June August WPI inflation fell to -4.95% vs % in July August CPI inflation moderated to 3.66% YoY vs. 3.78% in July August imports fell by 10% YoY while exports plunged by 20.70% YoY India s Manufacturing Purchasing Managers Index (PMI) rose to 52.6 in August MARKET ACTIVITY AND VALUATION Performance of Nifty Sectors: Top Performers Bottom Performers CYTD Pharma (17.9%) IT (10.9%) Metals (-31.4%) Industrial Manufacturing (-22.5%) Performance of Size Indices: Flows: Valuation and earnings estimates: IT (4.2%) Median & Entertainment (2.0%) Metals (-10.2%) Industrial Manufacturing (-9.2%) Index CYTD Nifty Nifty Junior CNX Midcap -4.0% 5.0% 3.2% -0.3% -2.4% -0.6% Valuation and earnings estimates: CNX Nifty Index is currently trading at 17x forward 1Y PE multiple which is above its long term average. CNX Midcap is also trading at 18.3x forward 1Y PE which is above its long term average. Source: Bloomberg, NSE, Internal research as of October 05, 6

5 Markets & Beyond DEBT MARKET OUTLOOK WHAT WE SAID LAST TIME RBI although kept interest rates unchanged in August policy, however commentary was dovish. With crude oil prices at six year lows, and also the CPI inflation coming to an eight month low suggest that inflation pressures remain subdued. The latest release of GDP is likely to cement expectations of further monetary policy easing. With RBI maintaining status quo in last policy, we expect RBI to cut repo rate by 25 bps in its upcoming policy on account of record low retail inflation & negative whole sale inflation, possibility of a deferment of rate hike by US fed, fuel and commodity disinflation on back of lower crude oil prices. WHAT HAPPENED? RBI, in its fourth bi-monthly policy statement, reduced the policy rate by 50 basis points. The cut was on the back of continued disinflation falling to a nine month low, subdued investment and credit growth, improved actions by the government to manage supply and postponement of Federal Reserve policy normalization, while maintaining the accommodative stance of monetary policy. Additionally, RBI announced Medium Term Framework (MTF) for FPI limits in debt securities. FPI limits in G-Sec & SDL will be increased in phases to 5% and 2% respectively and is expected to bring in incremental FPI inflows of Rs 1,20,000 Cr into Gilts and Rs 50,000 Cr in SDL, thereby giving a major boost to the bond market. Wholesale Price Index based inflation eased to a record low of -4.95% in August from -4.05% in July, primarily due to statistical effect of a high base and on account of fall in prices of fuel products and metals. Primary articles inflation declined to -3.71% in August from -3.66% in the previous month. Food articles inflation rose slightly to -1.13% in August compared with % in July, while on a month on month basis, the food articles index was up by 2.60%. Within food, the vegetable index rose 16.7% month on month, mainly because prices of onion rose by 65.3%. Prices of potato decreased 51.8% month on month in August. Prices of pulses increased 2.6% month on month in August, while those of cereals declined by 1.65%. Fuel and power inflation declined to % in August from % in July. Manufactured products inflation declined -1.92% in August from -1.47% a month ago. The non-food manufactured products inflation, which is a proxy for the core inflation, was -1.9% in August, compared with -1.4% a month ago. The Consumer Price Index based inflation based on the new series fell to a nine month low at 3.66% in August from 3.69% in June mainly on account of statistical effect of a high base. India's industrial growth rose to 4.4% in July from 4.2% a month ago, The moderation in industrial growth rate was primarily because of a sharp deceleration in consumer goods, especially consumer non-durable goods. The output of capital goods segment, an indicator of investment demand, registered a growth of 10.6% in July against a contraction of -3.6% in June and. The manufacturing sector, which accounts for nearly three-fourth of the total weight of the Index of Industrial Production, slowed to 4.7% in July, from 5.4% in June. Within the consumer goods segment, output of consumer durables increased 11.4% in July, compared with a decline of 17.4% in June. Consumer non-durables goods output contracted 4.6% in July, against a growth of 2.2% in June. But the growth in the other two sectors, electricity and mining, improved in July. Electricity sector output rose 3.5% in July compared with 1.3% a month ago, while mining growth rose to 1.3% from (-)0.5% a month ago. Industrial growth in Apr-Jul was 3.5%, against 3.6% a year ago. The 10-year benchmark G-sec yield closed at 7.54%, marginally down by 25 bps from last month level of 7.79% while yield on the short-term 1-year bond fell by 20 bps to 7.25%. In the corporate bond segment, yields were range bound. The 10-year AAA bond yield closed at 8.41%, 4 bps lower than last month level while the short-term 1-year AAA bond yield hardened by 2 bps to close at 8.23%. Within the short term segment, the yield on 3-month certificate of deposit (CD) ended 29 bps lower at 7.12%, while that on the 1-year CD closed at 7.38%, down by 45 bps. Meanwhile, yield on 3-month commercial paper (CP) declined by 30 bps to 7.51% while yield on 1-year CP ended lower by 25 bps from last month level to close at 8.05%. 0.90% 0.80% 8.25% 8.00% 7.75% 7.50% 7.25% 7.00% 6.75% 31-Aug Aug Sept Sept-15 OUTLOOK FOR THE COMING MONTH RBI has cut the repo rate by total 125 bps since it first started lowering the rate in January this year. The onus is now on the government to remove impediments to transmission while following a prudent fiscal path, and for banks to pass on the rate cut. Bond yields are expected to soften sharply- as they reprice vis-à-vis the new repo rate at 6.75%. RBI's recent policy announcement comes against backdrop of need to boost growth amidst benign inflation pressures. The pressure on inflation is declining and the long-term inflation trajectory is on the downward slope, as supply bottlenecks continue to open up. If inflation shows a further downward movement, it will create an enabling environment for a more accommodative policy stance in future. Source: Bloomberg, Cogencis, Internal research as of October 5, 7

6 FACTSHEET ABSOLUTE RETURN Fund* (*The Scheme is an equity - oriented Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns.) Mr. Absolute seeks to personify the characteristics of Absolute Return Fund: generate absolute returns with low volatility over a longer tenure of time. Equity Fund to create wealth over long term and prevent capital erosion in medium term investment predominantly in equity and equity related securities including through arbitrage opportunities with balance exposure to debt and money market securities *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The primary objective of the Scheme will be to generate absolute returns with low volatility over a longer tenure of time. The Scheme will accordingly invest in arbitrage opportunities and debt and money market instruments on the one hand and in pure equity investments and equity derivative strategies on the other. 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. TOP TWENTY EQUITY HOLDINGS INDUSTRY ALLOCATION Name of Instrument Industry % to Net Assets HDFC Bank Limited Maruti Suzuki India Limited Tata Consultancy Services Limited Reliance Industries Limited Infosys Limited Hindustan Unilever Limited HCL Technologies Limited Axis Bank Limited ICICI Bank Limited Cadila Healthcare Limited Torrent Limited Britannia Industries Limited Housing Development Corporation Limited Bharti Airtel Limited Cholamandalam Investment and Company Limited Abbott India Limited State Bank of India Emami Limited Page Industries Limited Divi's Laboratories Limited Notes: Fixed Deposit placed under margin : `1, Lakhs. Total Exposure to derivative instruments (excluding reversed positions) as on 30/09/ : `2, Lakhs. ASSET ALLOCATION as on 30, Equities Petroleum Products Telecom - Services Others include (Derivatives, Fixed Deposit, CBLO / Reverse Repo Investments and Cash & Cash Equivalents) Cash & Equivalent Unrated Petroleum Products Telecom - Services Index Future Ancillaries Healthcare Services Telecom - Equipment & Accessories Construction Project Chemicals Minerals/Mining Power Transportation Index Option Consumer Durables Industrial Capital Goods Oil DIVIDEND HISTORY 5.19% 4.08% 3.94% 2.70% 2.28% 2.28% 2.08% 1.72% 1.17% 1.07% 1.05% 1.04% 0.96% 0.88% 0.74% 0.57% 0.45% 0.24% 0.10% 7.23% 11.21% 10.27% 10.19% 9.82% 9.80% 8.94% Record Date Option Name V on Record Date (`) Amount of Dividend (`) 27/07/ Dividend Option /04/ Dividend Option /01/ Dividend Option /10/2014 Dividend Option /07/2014 Dividend Option /04/2014 Dividend Option /01/2014 Dividend Option /10/2013 Dividend Option /07/2013 Dividend Option /04/2013 Dividend Option /01/2013 Dividend Option /10/2012 Dividend Option /07/2012 Dividend Option /04/2012 Dividend Option /01/2012 Dividend Option /10/2011 Dividend Option /07/2011 Dividend Option /04/2011 Dividend Option /01/2011 Dividend Option Date of Allotment : August 20, 2009 Date of Inception (Direct Plan) : January 21, 2013 `1000/- per application & in multiples of `1/- thereafter Exit Load If the Units are redeemed / switched out on or before 365 days from the date of allotment 1.00% If the Units are redeemed / switched out after 365 days from the date of allotment Nil The entire exit load will be credited to the Scheme net of service tax, if any : Mr. Kartik Soral Managing the Scheme since: April 01, Co-: Mr. Bhavesh Jain Experience: 7 years Managing the Scheme since: - August 03, Ratios as on 30, Standard deviation 8.18% Sharpe ratio** 0.80 Portfolio beta 0.50 R squared 0.70 Portfolio Turnover Ratio^ 1.93 times ** Risk Free Rate considered for the above = 7.360% p.a. Financial Benchmarks India Interbank 3 Month Rate Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, Options: Growth, Dividend, Bonus Benchmark: CRISIL MIP Blended Index Total Expense Ratios : Existing Plan: 2.47% Direct Plan: 1.72% HIGH will be at moderately high risk Current Financial year to date ratio to average AUM. V as on 30, Growth Option Dividend Option Direct Plan - Growth Option Direct Plan - Dividend Option FUND PERFORMANCE AS ON SEPT 30, Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the V of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. 8 EDELWEISS ABSOLUTE RETURN FUND ( ARF) ARF ARF - (Direct Plan) Scheme Benchmark (Crisil MIP Blended Index ) Alternate Benchmark (CNX Nifty) ARF Risk Measurement - Standard Deviation CRISIL MIP Blended Index 30, , ^ 10.07% 11, % 11, % 11, % 9, % 3.45% 16.38% 30, , % 12, % 13, % 11, % 13, % 3.23% 13.44% 28, , 2013^ 3.42% 10, % 10, % 10, % 6.64% 17.16% Since Inception (CAGR) - ARF 10.67% 18, % 16, % 17, % 3.87% 17.11% Since Inception (CAGR) - ARF - Direct Plan 15.51% 14, % 12, % 13,069 Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. Performance of the Dividend Option for the investor would be net of the dividend CNX Nifty

7 FACTSHEET Equity Fund EDGEMaster seeks to personify the attributes of E.D.G.E Top 100 Fund: A large cap Fund focusing on 100 largest corporates in India by market capitalization Invests in large caps which are resilient to downtrends Uses Quant style of investing that helps in sensing the change in the trend quickly and ensures that the portfolio has the potential to deliver returns higher than the benchmark index. ^The Scheme is an open - ended equity Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns. to create wealth in the long term investment predominantly in equity and equity-related securities including equity derivatives of the 100 largest companies by market capitalization, listed in India. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. An open ended diversified equity Scheme that seeks to generate capital appreciation, from a portfolio that is substantially constituted of equity securities and equity related securities of the 100 largest corporates by market capitalization, listed in India. 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. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets HDFC Bank Limited Infosys Limited Cadila Healthcare Limited Hindustan Unilever Limited Tata Consultancy Services Limited ICICI Bank Limited HCL Technologies Limited Indiabulls Housing Limited Axis Bank Limited Abbott India Limited Maruti Suzuki India Limited Housing Development Corporation Limited Bharti Airtel Limited Hero MotoCorp Limited Cholamandalam Investment and Company Limited Coal India Limited Emami Limited Britannia Industries Limited Reliance Industries Limited Welspun India Limited Notes: Fixed Deposit placed under margin : ` Lakhs. Total Exposure to derivative instruments (excluding reversed positions) as on 30/09/ : `1, Lakhs. DIVIDEND HISTORY Record Date Plan/ Option V on Record Amount of Name Date (`) Dividend (`) 09/03/ Dividend option per unit 08/08/2014 Dividend option per unit 06/12/2013 Dividend option per unit FUND PERFORMANCE AS ON SEPT 30, EDELWEISS DIVERSIFIED GROWTH EQUITY TOP 100 (E.D.G.E TOP 100) FUND E.D.G.E Top 100 Fund (Existing Plan) E.D.G.E Top 100 Fund (Direct Plan) E.D.G.E Top 100 Fund Plan B* Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the Scheme. shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as E.D.G.E Top 100 Fund Plan C* Scheme Benchmark (CNX Nifty ) Alternate Benchmark (S&P BSE SENSEX) Risk Measurement - Standard Deviation^^ applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Day is considered for computation of return. ^^Standard Deviation for E.D.G.E. Top 100 Fund - Existing Plan only Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. *Kindly refer addendum dated 29, 2012 for discontinued Plan viz Plan B & Plan C & addendum dated Oct 19, 2012 for standardizing the nomenclature for existing Plan / Options 30, , ^ 9.06% 10, % 10, % 10, % 10, % 9, % 9, % 16.38% 16.31% 30, , 2014^ 44.19% 14, % 14, % 14, % 14, % 13, % 13, % 13.44% 13.18% 28, , 2013^ 4.58% 10, % 10, % 10, % 10, % 10, % 17.16% 16.58% Since Inception (CAGR) - E.D.G.E. Top 100 Fund Since - Inception (CAGR) - E.D.G.E. Top 100 Fund - Direct Plan Telecom - Services Minerals/Mining Petroleum Products INDUSTRY ALLOCATION Index Future Telecom - Services Chemicals Petroleum Products Unrated Ancillaries Minerals/Mining Construction Project Power Telecom - Equipment & Accessories Healthcare Services Industrial Products Transportation Oil Consumer Durables Cash & Equivalent Index Option 1.28% 0.62% 0.52% 0.47% 0.45% 0.43% 0.39% 0.13% 0.09% 2.75% 2.71% 2.56% 2.43% 2.33% 1.98% 1.93% 1.49% 5.78% Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the V of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Date of Allotment: May 20, 2009 Date of Inception (Direct Plan) : January 7, 2013 `1000/- per application & in multiples of `1/- thereafter Exit Load If the Units are redeemed / switched out on or before 365 days from the date of allotment 1.00% If the Units are redeemed / switched out after 365 days from the date of allotment Nil The entire exit load will be credited to the Scheme net of service tax, if any Ratios as on 30, Standard deviation 13.37% Sharpe ratio** 0.80 Portfolio beta 0.91 R squared 0.87 Portfolio Turnover Ratio^ 2.38 times ** Risk Free Rate considered for the above = 7.360% p.a. Financial Benchmarks India Interbank 3 Month Rate Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, Options: Growth, Dividend, Bonus Benchmark: CNX Nifty Total Expense Ratios : Existing Plan: 2.69% Plan B*: 2.69% Plan C*: 2.69% Direct Plan: 1.94% Current Financial year to date ratio to average AUM. V as on 30, Growth Option Dividend Option Plan B* - Growth Option Plan B* - Dividend Option Plan C* - Growth Option Plan C* - Dividend Option Direct Plan - Growth Option Direct Plan - Dividend Option E.D.G.E Top 100 CNX Nifty S&P BSE SENSEX 15.59% 25, % 25, % 24, % 18, % 18, % 17.99% 17.67% 17.72% 15, % 13, % 13, % 11.10% 11.00% 12.88% 12.73% 12.65% HIGH will be at moderately high risk : Mr. Kartik Soral Managing the Scheme since: April 01, Co-: Mr. Bhavesh Jain Experience: 7 years Managing the Scheme since: - August 03, 9

8 THE POWER OF HOLDING HIGH VALUE STOCKS THROUGH YOUR MUTUAL FUND INVESTMENTS The table below shows the number of shares, forming part of the Top 10 Equity Holdings of the portfolio of the Scheme as on 30,, that will be notionally held by an investor who invests an assumed amount of `10 lakhs in each Scheme. (An Open Ended Equity scheme) Diversified Growth Equity Top 100 (E.D.G.E. Top 100) Fund Top 10 stocks in the Portfolio as on 30, (An Open Ended Equity scheme) Top 10 stocks in the Portfolio as on 30, Absolute Return Fund Top 10 Equity Holdings % to Net Assets Shares notionally of the Scheme held by an investor* Top 10 Equity Holdings % to Net Assets Shares notionally of the Scheme held by an investor* , 10 Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

9 ELSS Fund (An Open-ended Equity Linked Savings Scheme) FACTSHEET Equity Fund to create wealth in the long term investment in equity and equity-related securities that will be locked-in for the first three years. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH will be at moderately high risk The primary objective of the scheme is to generate long-term capital appreciation with an option of periodic payouts at the end of lock in periods from a portfolio that invests predominantly in equity and equity related instruments. 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. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets ICICI Bank Limited Tube Investments of India Limited Ancillaries Emami Limited HDFC Bank Limited Axis Bank Limited Cadila Healthcare Limited Infosys Limited Tata Consultancy Services Limited Hindustan Unilever Limited Jagran Prakashan Limited Media & Entertainment Bajaj Finserv Limited Abbott India Limited Wipro Limited Reliance Capital Limited HCL Technologies Limited Britannia Industries Limited Gujarat Fluorochemicals Limited Chemicals Bharti Airtel Limited Telecom - Services Marico Limited Cholamandalam Investment and Company Limited DIVIDEND HISTORY FUND PERFORMANCE AS ON SEPT 30, Record Date Option Name V on Record Date (`) Amount of Dividend (`) 26/03/ Dividend Option per unit 09/03/ Dividend Option per unit 27/01/ Dividend Option per unit ELSS Fund INDUSTRY ALLOCATION Ancillaries Transportation Industrial Products Chemicals Media & Entertainment Petroleum Products Power Telecom - Services Cash & Equivalent Industrial Capital Goods Construction Project Non - Ferrous Metals Trading Construction Telecom - Equipment Accessories & Fertilisers EDELWEISS ELSS FUND ELSS Fund (Direct Plan) 0.82% 0.75% 0.65% Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the V of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Scheme Benchmark (CNX 500) Alternate Benchmark (CNX Nifty) Date of Allotment: December 30, 2008 Date of Inception (Direct Plan) : January 21, 2013 `500/- per application & in multiples of `500/- thereafter Exit Load: NIL The entire exit load will be credited to the scheme net of service tax, if any : Mr. Kartik Soral Managing the Scheme since: April 01, Co-: Mr. Bhavesh Jain Experience: 7 years Managing the Scheme since: - August 07, 2013 Ratios as on 30, Standard deviation 13.23% Sharpe ratio** 1.02 Portfolio beta 0.89 R squared 0.83 Portfolio Turnover Ratio^ 3.04 times ** Risk Free Rate considered for the above = 7.360% p.a. Financial Benchmarks India Interbank 3 Month Rate Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, Options: Growth, Dividend Benchmark: CNX 500 Total Expense Ratios : Existing Plan:2.68% Direct Plan: 1.93% Current Financial year to date ratio to average V as on 30, Growth Option Dividend Option Direct Plan - Growth Option Direct Plan - Dividend Option Risk Measurement -Standard Deviation ELSS Fund 30, , ^ 15.65% 11, % 11, % 10, % 9, % 16.57% 16.38% 30, , 2014^ 46.87% 14, % 14, % 14, % 13, % 13.49% 13.44% 28, , 2013^ 3.90% 10, % 9, % 10, % 16.31% 17.16% Since Inception (CAGR) - Existing Plan 20.77% 35, % 28, % 26, % 19.66% 20.53% Since Inception (CAGR) - Direct Plan 21.24% 16, % 13, % 13, % 1.63% 1.61% 1.54% 1.37% 0.99% 0.98% 2.72% 2.45% 2.42% 2.04% 3.58% 3.18% 3.07% 4.82% 9.22% 10.72% 14.40% 13.55% 15.59% AUM. CNX 500 CNX Nifty Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. 11

10 EMERGING LEADERS FUND (An Open-ended Equity Scheme) Formerly, Select Midcap Fund~ FACTSHEET Equity Fund to create wealth in the long term Investment predominantly in equity and equity related securities including equity derivatives of Mid and Small Cap Companies. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The primary investment objective of the Scheme is to generate income and capital appreciation from a diversified portfolio predominantly comprising of equity and equity related securities of Mid and Small Cap Companies. 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 TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets Aditya Birla Nuvo Limited Abbott India Limited Welspun India Limited Fiem Industries Limited L&T Holdings Limited Torrent Limited Page Industries Limited MT Educare Limited APL Apollo Tubes Limited Tube Investments of India Limited Bajaj Finserv Limited Cyient Limited WABCO India Limited Ajanta Pharma Limited Cholamandalam Investment and Company Limited Bajaj Corp Limited Claris Lifesciences Limited PTC India Financial Services Limited Strides Arcolab Limited SRF Limited Services Ancillaries Diversified Consumer Services Ferrous Metals Ancillaries Ancillaries Notes: Fixed Deposit placed under margin : `40.00 Lakhs. Total Exposure to derivative instruments (excluding reversed positions) as on 30/09/ : ` Lakhs. FUND PERFORMANCE AS ON SEPT 30, INDUSTRY ALLOCATION Ancillaries Services Consumer Durables Ferrous Metals Diversified Consumer Services Construction Cement Hotels, Resorts And Other Recreational Activities Other Elect. Equip./Prod. Chemicals Textiles - Cotton Unrated Cash & Equivalent 1.91% 1.89% 1.88% 1.86% 1.34% 1.07% 0.60% 3.04% 2.23% 2.06% 3.35% 6.26% 5.49% 5.37% 6.79% Emerging Leaders Fund Emerging Emerging Scheme Benchmark Alternate Benchmark Risk Measurement Leaders Fund Leaders Fund (Direct Plan) (CNX Midcap Index) (CNX Nifty) -Standard Deviation CNX Midcap CNX Emerging Index Nifty 30, , ^ 19.77% 11, % 12, % 11, % 9, % 19.15% 16.38% 30, , 2014^ 60.70% 16, % 16, % 16, % 13, % 17.22% 13.44% 28, , 2013^ 0.74% 10, % 8, % 10, % 17.23% 17.16% Since Inception (CAGR) - ELF 19.77% 20, % 18, % 16, % 18.03% 16.83% Since Inception (CAGR) - ELF - Direct Plan 24.10% 18, % 15, % 13, % 10.78% 16.55% 15.74% HIGH will be at moderately high risk Inception date ELF : August 25, 2011 ELF (Direct Plan) : January 1, 2013 `5000/- per application & in multiples of `1/- thereafter Exit Load: If the Units are redeemed / switched out on or before 365 days from the date of allotment % If the Units are redeemed / switched out after 365 days from the date of allotment Nil The entire exit load will be credited to the Scheme net of service tax, if any : Mr. Kartik Soral Managing the Scheme since: April 01, Co-: Mr. Bhavesh Jain Experience:- 7 years Managing the Scheme since: - August 07, 2013 Ratios as on 30, Standard deviation 15.00% Sharpe ratio** 1.15 Portfolio beta 0.93 R squared 0.71 Portfolio Turnover Ratio^ 3.04 times ** Risk Free Rate considered for the above = 7.360% p.a. Financial Benchmarks India Interbank 3 Month Rate Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, Options: Growth, Dividend, Bonus Benchmark: CNX Midcap Index Total Expense Ratios : Existing Plan: 2.67% Direct Plan: 1.97% Current Financial year to date ratio to average AUM. V as on 30, Growth Option Dividend Option Direct Plan - Growth Option Direct Plan - Dividend Option Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. ~ Please refer Page 21 for change in fundamental attributes of this scheme effective from August 5, 12

11 THE POWER OF HOLDING HIGH VALUE STOCKS THROUGH YOUR MUTUAL FUND INVESTMENTS The table below shows the number of shares, forming part of the Top 10 Equity Holdings of the portfolio of the Scheme as on 30,, that will be notionally held by an investor who invests an assumed amount of `10 lakhs in each Scheme. ELSS Fund Emerging Leaders Fund (An Open-ended Equity Linked Savings Scheme) (An Open-ended Equity scheme) Top 10 stocks in the Portfolio as on 30, Top 10 stocks in the Portfolio as on 30, Top 10 Equity Holdings % to Net Assets Shares notionally of the Scheme held by an investor* Top 10 Equity Holdings % to Net Assets Shares notionally of the Scheme held by an investor* Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 13

12 VALUE OPPORTUNITIES Fund (An Open-ended Equity scheme) Formerly, Equity Enhancer Fund~ FACTSHEET Equity Fund 14 to create wealth in the long term investment in equity and equity-related securities including equity derivatives *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The objective of the Scheme is to generate returns through a combination of dividend income and capital appreciation by investing primarily in a well-diversified portfolio of Stocks. Stocks are those stocks, which tend to trade at a lower price relative to their fundamentals (i.e. dividends, earnings, sales, etc.) and thus considered undervalued by investors. They have attractive valuations in relation to earnings or book value or current and/or future dividends. 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. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets SJVN Limited Abbott India Limited Avanti Feeds Limited Piramal Enterprises Limited HCL Technologies Limited TVS Srichakra Limited J.Kumar Infraprojects Limited Techno Electric & Engineering Company Limited Indiabulls Housing Limited Welspun India Limited JK Lakshmi Cement Limited Advanta Limited Entertainment Network (India) Limited SRF Limited JB Chemicals & Limited Tube Investments of India Limited The Great Eastern Shipping Company Limited Motilal Oswal Financial Services Limited Timken India Limited INDUSTRY ALLOCATION PERFORMANCE OF EDELWEISS EQUITY ENHANCER FUND (EEF)~ AS ON JUNE 30, 2014 Power Ancillaries Construction Construction Project Cement Media & Entertainment Ancillaries Transportation Industrial Products Equity Enhancer Fund (Existing Plan) MphasiS Limited Notes: Total Exposure to derivative instruments (excluding reversed positions) as on 30/09/ : `4.50 Lakhs. Equity Enhancer Fund (Direct Plan) Equity Enhancer Fund - Plan B* Scheme Benchmark (CNX NIFTY )*** Inception date EEF : August 12, 2009 EEF (Plan B): June 16, 2009 EEF (Direct Plan) : January 7, 2013 VOF : 10, 2014 `1000/- per application & in multiples of `1/- thereafter Exit Load: NIL Options: Growth, Dividend, Bonus Benchmark: CNX 200 Index Total Expense Ratio : Existing Plan: 2.67% Plan B: 2.67% Direct Plan: 2.27% Current Financial year to date ratio to average AUM. V as on 30, Growth Option Dividend Option Plan B* - Growth Option Plan B* - Dividend Option Direct Plan - Growth Option Direct Plan - Dividend Option Alternate Benchmark (S&P BSE SENSEX) Risk Measurement - Standard Deviation^^ Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Past performance may or may not be sustained in future and should not be used as a basis for Day is considered for computation of returns. comparison with other investments. ^^Standard Deviation for Equity Enhancer - Existing Plan only Since Inception returns are calculated on `10/- invested at inception of the Scheme. shown above are for Growth Option only. ***CNX Nifty was the erstwhile benchmark of the Scheme as on the date of performance i.e. 30, 2014 ^^^Revised benchmark w.e.f 10, 2014 Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. *Kindly refer addendum dated 29, 2012 for discontinued Plan viz Plan B & addendum dated Oct 19, 2012 for standardizing the nomenclature for existing Plan / Options Equity June 28, June 30, 2014^ 34.33% 13, % 13, % 13, % 13, % 13, % 17.26% 16.65% June 29, June 28, 2013^ -1.60% 9, % 9, % 11, % 11, % 13.63% 13.28% June 30, June 29, 2012^ -3.91% 9, % 9, % 9, % 9, % 20.60% 20.32% Since Inception (CAGR) - Equity Enhancer Fund 10.91% 16, % 17, % 16, % 17.64% 17.31% Since Inception - Plan B (CAGR) 10.19% 16, % 16, % 16,990 Since Inception (CAGR) - Equity Enhancer Fund - Direct Plan 18.81% 12, % 12, % 12,906 Inception date: EEF : August 12, 2009, Inception date: EEF (Plan B): June 16, 2009, EEF (Direct Plan) : January 7, 2013 PERFORMANCE OF EDELWEISS VALUE OPPORTUNITIES FUND (VOF)~ AS ON SEPT 30, Opportunities Fund Index Future Cash & Equivalent Consumer Durables Power Ancillaries Construction Industrial Products Opportunities Fund (Direct Plan) Oil Construction Project Cement Media & Entertainment Transportation Pesticides Non - Ferrous Metals Telecom - Equipment & Accessories Minerals/Mining Index Option Opportunities Fund - Plan B* Scheme Benchmark (CNX 200 Index)^^^ Alternate Benchmark (CNX NIFTY) CNX Nifty S&P BSE SENSEX Risk Measurement - Standard Deviation^^ EVO CNX CNX 200 Nifty 30, , ^ 11.43% 11, % 11, % 11, % 10, % 9, % 16.68% 16.38% Since Inception - VOF^ 9.39% 10, % 11, % 10, % 9, % 16.60% 16.23% Since Inception - VOF - Direct Plan^ 9.93% 11, % 10, % 9,821 VOF : 10, 2014 ~ Equity Enhancer Fund was launched on August 12, Subsequently, the fundamental attributes of the Scheme (including the Scheme name, the asset allocation and the benchmark index) were changed w.e.f. 10, Refer Notice cum Addendum dated August 5, 2014 for further details. 1.20% 1.07% 0.95% 0.81% 0.34% 2.00% 1.98% 1.91% 1.78% 1.67% 3.01% 2.59% 4.19% 4.06% 3.62% 5.42% 5.38% 5.16% 6.68% 8.45% 7.66% 9.73% 9.10% 11.27% HIGH will be at moderately high risk : Mr. Kartik Soral Managing the Scheme since: August 03, Co-: Mr. Bhavesh Jain Experience:- 7 years Managing the Scheme since: - August 07, 2013

13 FACTSHEET Equity Fund ARBITRAGE Fund (An Open-ended Equity scheme) To generate income by predominantly investing in arbitrage opportunities Investments 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. HIGH will be at moderately low risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The investment objective of the Scheme is to generate income by predominantly investing in arbitrage opportunities in the cash and the 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. However, there is no assurance that the investment objective of the Scheme will be realized. TOP TWENTY EQUITY HOLDINGS Name of Instrument % to Net Assets EQUITIES Cash & Equivalent Unrated Petroleum Products Cement 1.71 Media & Entertainment DERIVATIVES Media & Entertainment Oil Minerals/Mining Industrial Capital Goods Pesticides Services Cement Media & Entertainment Construction Project Telecom - Services Petroleum Products 2.04 Petroleum Products Oil `5000/- per application & in multiples of `1/thereafter INDUSTRY ALLOCATION Industry : Mr. Bhavesh D. Jain Experience: 7 years Managing the Scheme since: June 27, 2014 Co-: Mr. Kartik Soral Managing the Scheme since: August 7, 2013 Ratios as on 30, *N/A. Since the fund has not completed three years from the date of allotment. Options: Growth, Dividend, Bonus Benchmark: CRISIL Liquid Fund Index Total Expense Ratio: Regular Plan: 1.00% Direct Plan: 0.70% Current Financial year to date ratio to average AUM. V as on 30, Regular Plan - Growth Option Regular Plan - Dividend Option Regular Plan - Bonus Option Direct Plan - Growth Option Direct Plan - Dividend Option Record Date Option Name V on Record Date (`) Amount of Dividend (`) /09/ Dividend Option /07/ Dividend Option Construction Project /06/ Dividend Option Media & Entertainment Services Dividend is declared on the face value of `10/- per unit. Dividend is dividend the V of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Telecom - Services Construction Project Pesticides paid subject to availability of distributable surplus. After payment of Exit Load: If redeemed within three months from the date of allotment 0.50% If redeemed after three months from the date of allotment - NIL The entire Exit Load, net of service tax, shall be credited to the Scheme. DIVIDEND HISTORY % 12.84% 8.23% 8.09% 1.16% 0.58% 0.58% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.01% -0.01% -0.01% -0.01% -0.01% -0.02% -0.02% -0.04% -0.04% -0.05% -0.16% Notes: Fixed Deposit placed under margin : `11, Lakhs % Date of Allotment: June 27, 2014 FUND PERFORMANCE AS ON SEPT 30, EDELWEISS ARBITRAGE FUND ( ARB) ARB (Regular Plan) Scheme Benchmark (Crisil Liquid Fund Index) ARB (Direct Plan) Alternate Benchmark Risk Measurement Standard Deviation (CNX Nifty) CNX Crisil Liquid Nifty ARB 30, , ^ 8.44% 10, % 10, % 10, % 9, % 0.35% 16.38% Since Inception (CAGR) - ARB - Regular Plan 8.65% 11, % 11, % 10, % 0.35% 15.67% 9.01% 11, % 11, % 10,586 Since Inception (CAGR) - ARB - Direct Plan Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. 15

14 LIQUID Fund (An Open-ended Liquid Scheme) FACTSHEET Liquid Fund regular fixed income for short term investment in Money Market Instruments and Debt instruments *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The objective of the Scheme is to provide optimal returns, commensurate with low risk and high degree of liquidity, through a portfolio constituted of money market & short term debt instruments. 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. PORTFOLIO Name of Instrument % to Net Assets **Thinly traded/non traded securities as defined in SEBI Regulations and Guidelines. DIVIDEND HISTORY FUND PERFORMANCE AS ON SEPT 30, ASSET ALLOCATION Money Market Instruments Cash & Equivalent Dividend is declared on the Face of `1000/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the V of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. RATING PROFILE Bonds and NCDs Record Date Plan/ Option Name V on Amount of Amount of Record Date Dividend - Retail Dividend - Corporate (`) (`) (`) 30/09/ Dividend (Monthly) per unit per unit 31/08/ Dividend (Monthly) per unit per unit 31/07/ Dividend (Monthly) per unit per unit EDELWEISS LIQUID FUND ( LF) Date of Allotment Existing Plan: August 12, 2011 Retail Plan: 9, 2008 Date of Inception (Direct Plan) : January 10, 2013 `10,000/- & in multiples of `1/- thereafter. Exit Load: NIL : Mr. Rahul Aggarwal Managing the Scheme since: March 11, 2014 Assistant : Mr. Bhavesh D. Jain Experience: 7 years Managing the Scheme since: January 4, 2014 Benchmark: CRISIL Liquid Fund Index Modified Duration: Years Average Maturity: Years Total Expense Ratio : Existing Plan: 0.25% Retail Plan*: 0.97% Direct Plan: 0.15% Current Financial year to date ratio to average AUM. HIGH HIGH will be at low risk Options: Growth, Dividend, Bonus V as on 30, Growth Option Daily Dividend Option Weekly Dividend Option Fortnightly Dividend Option^ - Monthly Dividend Option Retail Plan* Growth Option Daily Dividend Option Weekly Dividend Option Fortnightly Dividend Option^ - Monthly Dividend Option Direct Plan Growth Option Daily Dividend Option Monthly Dividend Option Weekly / Fortnightly Dividend Option^ Bonus Option^ - ^ There were no investors under this option LF (Existing Plan) LF (Direct Plan) *As there was no investor under these Plans during certain intervals returns for the specified / since inception is not provided. Based on standard investment of `10,000 made at the beginning of the relevant ^Absolute. Annualized Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at Inception/ date of the initial investment under the plans. shown above are for Growth Option only. LF (Retail Plan)* Scheme Benchmark (Crisil Liquid Fund Index) Alternate Benchmark (Crisil 1 Year T bill) Last 7 days@ 7.77% 10, % 10, % 10, % 10, % 10,043 Last 15 days@ 7.44% 10, % 10, % 10, % 10, % 10,052 Last 30 days@ 7.22% 10, % 10, % 10, % 10, % 10,092 30, , ^ 7.83% 10, % 10, % 10, % 10, % 10,886 30, , 2014^ 8.46% 10, % 10, % 10, % 10, % 10,835 28, , 2013^ 8.71% 10, % 10, % 10, % 10,570 Since Inception (CAGR) LF 8.72% 14, % 14, % 13,568 Since Inception (CAGR) LF - Retail Plan 6.85% 15, % 16, % 15,746 Since Inception (CAGR) LF - Direct Plan 8.40% 12, % 12, % 12,185 Performance of the Dividend Option for the investor would be net of DDT, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, In case start /end date of the relevant period is a non-business Day, the V of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. 16 *Kindly refer addendum dated 29, 2012 for discontinued Plan viz Retail and addendum dated Oct 19, 2012 for standardizing the nomenclature for existing Plan / Options