Fact Sheet. July, Shinsei Mutual Fund. - INVESTORS - DISTRIBUTORS

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1 Fact Sheet July, 2010 Shinsei Mutual Fund TOLL FREE WEBSITE - INVESTORS investorcare@shinseifunds.com - DISTRIBUTORS distributorsupport@shinseifunds.com

2 FUND MANAGER SPEAK EQUITY MARKET Globally, investors rediscovered their appetite for risk in the month of July, Equities, corporate bonds and commodities sensitive to the economic cycle benefited. Treasuries also held up well, however, amid concern that the US economy is shifting into a lower gear. The US Dollar lost ground as expectations grew that the Federal Reserve might loosen monetary policy further. Developed countries have committed to fiscal austerity in unison and global growth prospects have become the first casualty. Fears of excessive tightening in China are likely to abate going ahead, as core inflation is at around 1%. As house prices have started to correct, the authorities are likely to view their current steps as having had the necessary impact, and Chinese growth dynamics are likely to reassert and positively impact equity and commodity markets. Closer home, credit growth has picked up sharply from the low of 10% in November last year to 18% now. The petroleum and infrastructure sectors have seen the biggest pick up in credit st growth so far. The Telecom Regulatory Authority of India (TRAI) has recommended that television cable services be completely digitalized by 31 December, A seven year tax holiday has been proposed for digital addressable system service providers, and also recommended that basic customs duty on set-top boxes and digital head-ends be waived. These recommendations are positive for the industry. State-owned oil companies had a poor first quarter, as they were hit by a sharp jump in subsidy due to the oil price which was 25% higher compared to last year. The outlook for these companies is much better from the second quarter, as subsidies would be lower and the oil price net of subsidy would be USD10/barrel higher compared to the previous quarter, due to the recent price hikes. Almost half to two thirds of the subsidy for this year is likely to be compensated by the government to Refining and Marketing companies. Auto sales continued to grow in July, All two-wheeler and four-wheeler majors continued to perform impressively, recording strong monthly sales growth; supply constraints at most vendors due to capacity issues have affected some manufacturers. This is despite the increase in prices, as companies have passed on the cost impact to consumers. The June quarter results have been slightly below expectations. Earnings for Autos, Capital Goods, Cement, Energy, Real Estate and Utilities came in below market estimates. This largely reflects competitive, supply-side or execution issues rather than a slackening of demand. Earnings for Financials, IT Services, Media and Pharma came in above market estimates. Overall, FY11 consensus EPS estimate for Sensex / Nifty has seen a 2% downgrade from the start of the reporting season, but the estimate for mid-caps has risen 3%. We continue to reiterate that domestic oriented stocks with reasonably secure growth prospects should continue to outperform. While the near term market direction is likely to remain positive, high valuation multiples will weigh on the markets at every rise. The overall market direction will also be determined to a certain extent by global developments and data releases. David Pezarkar Head - Equities DEBT MARKET The Reserve Bank of India (RBI) has announced its monetary policy during July, We are pleased to state that the announcements are broadly in line with our expectations. The RBI raised Repo rates by 25 bps to 4.50% and reverse repo by 50 bps to 5.75% with immediate effect. The RBI has kept Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) levels unchanged. The RBI has also increased the inflation outlook to 6% from its previous outlook of 5.50% by the end of fiscal year , while also increasing the Gross Domestic Product (GDP) growth estimate to 8.50% from its previous outlook of 8% respectively. It has kept its M3 and non-food credit offtake growth estimates unchanged at 17% and 20% respectively. We reiterate our views that Wholesale Price Index (WPI) inflation may soften in the coming months but it may not be a sudden and significant drop-off. The RBI may continue its policy of rapid steps to counter emerging economic scenarios. We also continue to hold that the RBI s monetary stance may continue to be hawkish and dominated by domestic drivers rather than international situations. The debt markets finally saw some easing in market liquidity during the end of the month with daily LAF slipping marginally into positive. MIBOR also softened significantly and was about 4.86% towards the end of July, The Gilt markets remained bearishness on the back of the RBI s action and inflation worries. The benchmark 10-year paper was at about 7.80% levels on July 30, The non SLR segment continued to be under pressure due to the liquidity situation though yields did see some relative softening, especially in the shorter end of the curve. Going ahead, we expect the gilt segment to remain broadly rangebound with a negative undertone, while the non SLR segment may see some easing in view of relatively better liquidity conditions. Overall, we retain our view of remaining neutral with a negative undertone with a short and medium term perspective. Killol Pandya Head - Fixed Income Sources: Reuters, Bloomberg

3 SHINSEI INDUSTRY LEADERS FUND (An open ended equity scheme) As on July 30, 2010 Investment Objective: The scheme seeks to generate income and long-term capital appreciation by investing in a diversified portfolio of predominantly equity and equity-related securities of companies identified as industry leaders. However, there can be no assurance that the investment objective of the scheme will be realized and the scheme does not assure or guarantee any returns. Details Date of Allotment September 09, 2009 NAV Details (In `) Growth Dividend Fund AUM ` Crs. Benchmark Index BSE 100 Index Expense Ratio * 2.50 % Minimum Subscription Initial Subscription : ` 5,000/- and in multiples Additional Subscription : ` 1,000/- and in multiples Load Structure Entry Load Not Applicable Exit Load (Including SIP / STP) If redeemed / switched-out within 6 months If redeemed / switched-out between 6 months-1 year If redeemed / switched-out after 1 year Fund Manager Mr. David Pezarkar ( Since Sept 2009) ( Experience: 16 years) 1% 0.5% NIL Portfolio Name of Instrument EQUITY & EQUITY RELATED Reliance Industries Infosys Technologies Larsen & Toubro HDFC Bank Housing Development Finance Corporation Bharat Heavy Electricals State Bank of India Oil & Natural Gas Corpn Bosch Tata Consultancy Services Axis Bank Vardhman Textiles Alstom Projects India Bharti Airtel ICICI Bank Grasim Industries Hindalco Industries ITC Cipla Mundra Port and Special Economic Zone Mahindra & Mahindra Sterlite Industries ( India ) Ranbaxy Laboratories EID Parry India Hindustan Petroleum Corporation Bharat Forge Tata Motors - A Class HCL Technologies IVRCL Infrastructures & Projects Pantaloon Retail (India) Tata Steel Biocon Nestle India Jaiprakash Associates Indiabulls Real Estate Siemens India Industry Petroleum Products Construction Project Finance Oil Auto Ancillaries Textiles - Cotton Telecom - Services Cement Non - Ferrous Metals Transportation Auto Non - Ferrous Metals Petroleum Products Industrial Products Auto Construction Retailing Ferrous Metals Cement Construction Market Value (In ` Lakhs) % to Net Assets 5.80% 5.52% 4.92% 4.38% 4.20% 4.00% 3.79% 3.73% 3.72% 3.55% 3.43% 2.99% 2.90% 2.48% 2.42% 2.27% 2.11% 2.05% 2.04% 1.97% 1.96% 1.96% 1.94% 1.83% 1.78% 1.72% 1.71% 1.53% 1.51% 1.25% 1.17% 1.06% 1.06% 1.02% 1.01% 0.95% 1, % CASH & CASH EQUIVALENT CBLO / Reverse Repo Investments Net Receivables / Payables Grand , % 1.60% 8.27% % Performance Scheme Name Shinsei Industry Leaders Fund 6 Months 7.63 Returns (%) Since Inception Benchmark Index - BSE 100 Index Note: As per SEBI standards for performance reporting, the since inception returns are calculated on ` 10/- invested at inception. For this purpose, inception date is deemed to be date of allotment i.e. September 09, Returns shown above are absolute returns and for the Growth Option only. Past performance may or may not be sustained in future Asset Allocation Industry Allocation Please refer the back cover page * Annualised from April 1, 2010 to date 8.27% Equity & Equity Related 91.73% Petroleum Products Construction Project Finance Non - Ferrous Metals Oil Auto Ancillaries Auto Cement Textiles - Cotton Construction Telecom - Services Transportation Industrial Products Retailing Ferrous Metals 5.04% 7.58% 7.85% 10.60% 14.02% 4.20% 4.92% 4.94% 4.07% 3.73% 3.72% 3.67% 3.29% 2.99% 1.25% 1.72% 1.97% 2.48% 2.52% 1.17% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00%12.00%14.00%16.00%

4 SHINSEI LIQUID FUND (An open ended liquid scheme) As on July 30, 2010 Credit Risk Rating mf by ICRA* Investment Objective: The Scheme seeks to generate reasonable returns commensurate with low risk and high liquidity, from a portfolio constituted of money market instruments and short term debt instruments with a residual maturity of up to 91 days. 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. Details Date of Allotment July 09, 2009 NAV Details (In `) Retail Plan Growth 1, Daily Dividend Weekly Dividend 1, Institutional Plan Growth Daily Dividend Weekly Dividend Fund AUM ` Crs. Benchmark Index CRISIL Liquid Fund Index 3 Expense Ratio Retail Plan : 0.59% Institutional Plan : 0.59% Quantitative Indicators Average Maturity : Days Modified Duration : 0.04 Minimum Subscription Retail Plan Load Structure Entry Load Not Applicable Exit Load - Nil Fund Manager Mr. Killol Pandya ( Since July 2009) ( Experience: 11 years) 1, , , Initial Subscription : ` 10,000/- and in multiples Additional Subscription : ` 1,000/- and in multiples Institutional Plan Initial Subscription 1 2 : ` 1 crore and in multiples Additional Subscription : ` 1 lac and in multiples Portfolio Market Value Name of Instrument (` in Lakhs) Rating % to Net Assets MONEY MARKET INSTRUMENTS Certificate of Deposit Punjab & Sind Bank State Bank of Patiala Canara Bank Bank of Maharashtra Union Bank of India Motherson Sumi Systems Triveni Engineering & Industries Religare Finvest BONDS & NCDs Floating Rate Instruments (Daily Put / Call) Electrosteel Castings Simplex Infrastructures Lanco Industries First Leasing Company of India JM Financial Products Mahindra & Mahindra Financial Services CASH & CASH EQUIVALENT CBLO / Reverse Repo Investments Net Receivables / Payables Grand Performance Scheme Name Shinsei Liquid Fund - Institutional Plan Shinsei Liquid Fund - Retail Plan , , , , , , , , , , Returns (%) Benchmark Index - Crisil Liquid Fund Index Note: As per SEBI standards for performance reporting, the since inception returns are calculated on ` 1,000/- invested at inception. For this purpose, inception date is deemed to be date of allotment i.e. July 9, Returns shown above are absolute returns and for the Growth Option only. Performance of the Dividend Option for the investor would be net of the applicable dividend distribution tax. Past performance may or may not be sustained in future. Asset Allocation , Rating Profile % 6.01% 6.01% 4.00% 3.99% 26.05% 4.02% 4.00% 2.01% 10.03% 14.13% 8.07% 8.07% 7, % 3, Days 15 Days 30 Days 3 Months 6 Months 1 Year 4.04% 4.04% 4.04% 12.12% 0.21% 21.32% 21.53% % Since Inception 21.53% 26.05% Certificate of Deposit 21.53% 34.31% Floating Rate Instruments 1 Weekly dividend is declared every Monday 12.12% 10.03% 18.09% 26.07% 2 There are no investors under this option 3 Annualised from April 1, 2010 to date 30.27% Please refer the back cover page *This rating is the highest-credit-quality short-term rating assigned by ICRA to debt funds. Debt funds rated in this category carry the lowest credit risk in the short term and are similar to that of fixed income obligations of highestcredit-quality category with maturity of upto one year. This rating should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns. This rating should not be treated as a recommendation to buy, sell or hold the Units issued by the Mutual Fund.

5 SHINSEI TREASURY ADVANTAGE FUND (An open ended income scheme) As on July 30, 2010 Credit Risk Rating mf by ICRA* Investment Objective: The Scheme seeks to generate regular income through a judicious mix of portfolio comprising, predominantly of money market instruments and short term debt securities with a residual maturity of up to three years. 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. Details Date of Allotment October 09, 2009 NAV Details (In `) Growth 1, Daily Dividend Weekly Dividend Monthly Dividend Fund AUM ` Crs. Benchmark Index CRISIL Liquid Fund Index Expense Ratio % Quantitative Indicators Average Maturity : Days Modified Duration : 0.15 Minimum Subscription Initial Subscription Load Structure Entry Load Not Applicable Exit Load - Nil Fund Manager 1 2 1, , , : ` 10,000/- and in multiples Additional Subscription : ` 1,000/- and in multiples Mr. Killol Pandya ( Since October 2009) ( Experience: 11 years) Portfolio Name of Instrument MONEY MARKET INSTRUMENTS Certificate of Deposit Bank of India Bank of Baroda IDBI Bank Market Value (` in Lakhs) Rating % to Net Assets 7.86% 7.86% 7.79% 2, % Religare Finvest % % BONDS & NCDs Floating Rate Instruments (Daily Put / Call) Magma Fincorp Usha Martin Simplex Infrastructures CASH & CASH EQUIVALENT CBLO / Reverse Repo Investments Net Receivables / Payables Grand 3, , , , , % 20.32% 11.39% 60.17% First Leasing Company of India 8.13% Dividend History (Shinsei Treasury Advantage Fund Monthly Dividend Option) Record Date* Dividend Per Unit (in `) Cum-Dividend NAV (in `) 22-Jul Jun , May , , % 0.99% 3.14% 4.13% % * Monthly Dividend is declared on 25th of every month. If it is a non business day, Dividend will be declared on the previous business day. Dividend is declared on the face value of ` 1,000/- per unit. Pursuant to payment of dividend, NAV of the dividend option of the Scheme would fall to the extent of dividend payout and statutory levy, if any. Dividend will be declared subject to availability and adequacy of distributable surplus. Past performance may or may not be sustained in future. Performance Scheme Name 6 Months Returns (%) Since Inception Shinsei Treasury Advantage Fund Benchmark Index - Crisil Liquid Fund Index Note: As per SEBI standards for performance reporting, the since inception returns are calculated on ` 1,000/- invested at inception. For this purpose, inception date is deemed to be date of allotment i.e. October 9, Returns shown above are absolute returns and for the Growth Option only. Performance of the Dividend Option for the investor would be net of the applicable dividend distribution tax. Past performance may or may not be sustained in future. Asset Allocation Rating Profile 8.13% 4.13% 23.51% Certificate of Deposit 68.30% 4.13% 4.06% Floating Rate Instruments 7.86% 1 Weekly dividend is declared every Monday 2 th Monthly dividend is declared on 25 of every month 60.17% 19.71% 3 Annualised from April 1, 2010 to date Please refer the back cover page *This rating is the highest-credit-quality short-term rating assigned by ICRA to debt funds. Debt funds rated in this category carry the lowest credit risk in the short term and are similar to that of fixed income obligations of highestcredit-quality category with maturity of upto one year. This rating should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns. This rating should not be treated as a recommendation to buy, sell or hold the Units issued by the Mutual Fund.

6 CONTACT DETAILS Shinsei Asset Management (India) Pvt. Ltd. - Office Addresses st Ahmedabad: Broadway Business Centre, 1 Floor, Sahajanand Complex, Opposite Citibank, CG Road, Ahmedabad Tel (079) (George Stephen) Bangalore: Newbridge Business Centre, No. 40, Ulsoor Road, Bangalore Tel (080) (Maria Praveena) st Delhi: C/o DBS Business Centre, Private Office # 665, 1 Floor, World Trade Tower, Barakhamba Lane, Connaught Place, New Delhi Tel (011) ( Vinita Srivastava) Kolkata: Apeejay Business Centre, Suite# 3, Block - A, 8th Floor, Apeejay House, 15 Park Street, Kolkata Tel (033) Mumbai: 5th Floor, Harchandrai House, 81, Maharshi Karve Road, Marine Lines, Mumbai Tel (022) (Akhil Chaturvedi / Chandrakant Soni) In accordance with the SEBI circular no. SEBI/IMD/CIR No.4/168230/09 dated June 30, 2009, no entry load will be charged for purchase/additional purchase/switch-in accepted by the Fund. Similarly, no entry load will be charged with respect to applications for registrations under systematic investment plans/systematic transfer plans accepted by the Fund. The upfront commission on investment made by the investor, if any, shall be paid to the AMFI registered distributor directly by the investor, based on the investor s assessment of various factors including service rendered by the distributor. Disclaimer : Any views or opinions expressed in this document alone are not sufficient and should not be used for the development or implementation of an investment strategy. Information provided in this document does not seek to influence the opinions/behaviour of the recipient(s) of this document and shall not be construed as investment advice to any party. Any views or opinions presented in this document constitute our views as on date of this document and are subject to change without notice. Risk Factors : All mutual funds and securities investments are subject to market risks, and there can be no assurance that the objectives of the schemes will be achieved. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market. Investment in mutual fund units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal. As the price/value/interest rates of the securities in which the schemes invest fluctuate, the value of your investment in the scheme(s) may go up or down. Investors in the schemes are not being offered any guaranteed or assured returns. Dividend is not guaranteed or assured and will be declared subject to availability and adequacy of distributable surplus. Past performance of the Sponsor and its affiliates do not indicate the future performance of the Mutual Fund or any of its schemes. The names of the schemes do not in any manner indicate either the quality of the schemes, their future prospects or returns. The Sponsor is not responsible or liable for any loss resulting from the operation of the schemes beyond the initial contribution of ` 1,00,000/- made by it towards setting up the Mutual Fund. Please refer to the respective Scheme Information Document for details on scheme specific risk factors. Copies of the Scheme Information Document (SID), Statement of Additional Information (SAI) and Key Information Memorandum along with application form can be obtained from any of our offices / website ( / Investor Service Centres / Distributors. Please read the SAI/SID carefully in their entirety before investing and retain the SAI/SID for future references. Statutory details: Shinsei Mutual Fund has been established as a trust sponsored by Shinsei Bank, Limited (liability restricted to ` 1 lakh) with Shinsei Trustee Company (India) Private Limited (Trustee under the Indian Trusts Act, 1882) as the Trustee and with Shinsei Asset Management (India) Private Limited as the Investment Manager.

Quantum Index Fund. Factsheet for the month of August, 2010

Quantum Index Fund. Factsheet for the month of August, 2010 Quantum Index Fund Factsheet for the month of August, 2010 Quantum Index Fund An Open ended Exchange Traded Fund Fact Sheet as on 31st August 2010 Net Asset Value as on August 31, 2010 (Rs./Unit) Growth