Invesco India Tax Plan An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit

Transcription

1 Invesco India Tax Plan An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit July 2018 RISKOMETER Suitable for investors who are seeking*: Capital appreciation over long term Investment in equity and equity- related instruments * Investors should consult their financial advisers if in doubt about whether the product is suitable for them LOW HIGH Investors understand that their principal will be at moderately high risk

2 Plant a tree today, to yield its fruit tomorrow Warren Buffett Equity as an asset class has the potential to earn inflation beating returns Volatility has been part and parcel of equity investing, but also have potential for higher returns Systematic investment plans (SIP) can reduce volatility and help in wealth creation Also a convenient way to participate in the India growth story 2

3 Downside Risk Diminishes Over Time The percentage of time, the S&P BSE Sensex posted positive returns over different rolling time period 1 Year Period 3 Year Period 5 Year Period 10 Year Period 15 Year Period 19% 5% 2% 100% 100% 81% 95% 98% Probability of Positive Returns Probability of Negative Returns The probability of generating positive rate of return is higher when invested for a longer period Past performance may or may not be sustained in future Source: Invesco Asset Management (India) Private Limited Rolling returns calculated on a daily basis from July 31, 2003 to July 31, Disclaimer: The illustration above is merely indicative in nature and should not be construed as investment advice. It does not in any manner imply or suggest the performance of any Invesco Mutual Fund Scheme(s) 3

4 Why Invest in Tax Saver Fund (ELSS)? Dual benefit: Tax Saving as well as wealth creation over long term Higher returns potential as compared to other tax saving instruments Advantages of Tax Saver Fund (ELSS) Lock in period of only 3 years. Most have lock in period beyond 3 years 4

5 Advantage 1 Dual benefit: Tax Saving as well as wealth creation over long term Rolling returns on daily basis for various time period Max 120% % 100% Period: July 31, 2003 July 31, % Returns 60% 40% 20% 0% -20% 47.68% -1.45% 21.10% 18.03% 0.97% 4.93% 15 year average returns on daily basis: 13.00% -40% 5-60% -80% Minimum % 1 Year 5 Year 10 Year 15 Year Rolling Periods Daily basis By investing in ELSS (which predominantly invests in equities) you can not only avail tax benefit, but as well as build wealth On an average equities (as represented by S&P BSE Sensex) has delivered 13.00% returns over a period of 15 years, whereas the downside probability diminishes for longer horizon Past performance may or may not be sustained in future Data as on 31 July Source: MFIE. The rolling returns are calculated on daily basis for various time frame. The above simulation is for illustration purpose only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC/Mutual Fund is not guaranteeing or forecasting any returns. Please refer lumpsum performance table on slide 11. Data Period (July 31, 2003 July 31, 2018). Returns above 1 year are Compounded Annualised Growth Rate (CAGR)

6 Advantage 2 Higher Return Potential Value of Rs. 10,000 invested Period: 31 December December 2017 (Return - CAGR 253,182 Dec-00 Jun-01 Dec-01 Jun-02 Dec-02 Jun-03 Dec-03 Jun-04 Dec-04 Jun-05 Dec-05 Jun-06 Dec-06 Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Rs. 47,722 41,531 PPF NSC ELSS Composite* They invest in equities which despite the short term volatility have the potential to build wealth over the long term Past performance may or may not be sustained in future Initial investment of Rs. 10,000 is considered. CAGR Compounded Annualised Growth Rate. *Methodology: ELSS composite represents a set of top 5 ELSS schemes in terms of assets under management as on December 29, 2017 and which have been in existence for over 15 years. Data Source: ICRA MFIE for ELSS Schemes. For PPF and NSC Data 6 Disclaimer: The above investment simulations are for illustration purpose only and should not be constructed as a promise on minimum returns or safeguard of capital. The AMC/Mutual Fund is not guaranteeing, promising or forecasting any returns. Mutual Fund investments are subject to market risks. There is no assurance or guarantee that the amount at the time of redemption will be equal to the original amount of investment

7 Other Advantages Advantage 3 Lock-in Period of Only 3 years Minimum Lock-in period of 3 years, in comparison with the traditional tax savers such as NSC (5 yrs), Bank FD (5 yrs) and PPF 1 (15 yrs) Advantage 4 Tax Free Profits Under Section 80C of the Income-tax Act,1961, like NSC/Bank FD s, where you have to pay tax on the interest accrued/earned Investments in tax saver funds can be withdrawn after 3 years and capital gains (if any) arising at the time of redemption, if less than Rs. 1 Lakh is exempt from tax 1 PPF allows partial withdrawals at pre-defined intervals. NSC: National Savings Certificates. FD: Fixed Deposit. PPF: Public Provident Fund. 7

8 How Much Tax Can be Saved? Highest tax bracket assumed Without investments under 80C With investments under 80C 1 Gross Income 1,500,000 1,500,000 Investment in ELSS under 150,000 Section 80C 1 Net Taxable Income 1,500,000 1,350,000 Gross Tax Liability 262, ,500 Net Tax Liability 262, ,500 Plus Health and Educational 10,500 8,700 4% Total Tax Liability 273, ,200 Tax Saved 46,800 Income estimates for an individual of less than 60 years of age. The above simulation is for illustration purpose only. 1 As per the present tax laws, eligible investors (individual/huf) are entitled to deduction from their gross total income, of the amount invested in equity linked saving scheme (ELSS) up to Rs. 150,000/- (along with other prescribed investments) under Section 80C of the Income Tax Act, Tax benefits are subject to the provisions of the Income Tax Act, 1961 and are subject to amendments, from time to time. The tax saving has been shown for the highest income slab applicable to annual taxable income up to Rs. 50 lakhs p.a. under Section 80C of the Income Tax Act, 1961 for the Financial year

9 How does Tax Saver Funds (ELSS) Stack Up? PPF NSC ELSS ULIP Bank Deposits Returns 7.60% 7.60% Equity Market linked Market linked 6.85% 2 Lock-in Period 15 years 1 5 years 3 years 5 years 5 Years Interest Frequency Compounded Annually Compounded Annually Not Assured Not Assured Compounded Quarterly Maximum Investment amount for 80C benefit in a year 150,000 3 Minimum Investment Amount Depends on premium 1,000 Taxation of Income Tax Free Taxable Tax free upto Rs. 1 lakh 4 Tax free Taxable ELSS offers higher potential to build wealth in the long term as compared to other tax saving instruments and at lower lock-in period due to return potential of equities 1 Partial withdrawals at pre-determined intervals 2 SBI - Tax Savings Scheme Deposit (SBITSS) interest rate as applicable to General Public 3 As amended by, the Finance (No.2) Act, 2014 assented by the President of India on August 6, Effective April 01, 2018, all equity and equity related instruments such as listed equity shares, units of equity oriented mutual funds or any such instruments that have bearing of equities, will attract long-term capital gains 10% (plus cess) for gains exceeding Rs. 1 Lakh p.a., without any indexation benefit Source: sbi.co.in, Indiapost.gov.in, incometaxindia.gov.in. Data as on July 31,

10 It s your money, Keep more of what is yours Take the ELSS advantage! Presenting Invesco India Tax Plan (An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit) 10

11 Invesco India Tax Plan Lumpsum Performance Performance as on July 31, 2018 Fund Managers: Amit Ganatra and Dhimant Kothari Returns (%) CAGR Value of Rs. 10,000/- invested Period Invesco India Tax Plan Benchmark Additional Benchmark Invesco India Tax Plan Benchmark Additional Benchmark S&P BSE 200 Nifty 50 S&P BSE 200 Nifty 50 1 Year 15.62% 12.51% 14.20% 11,562 11,251 11,420 3 Years 12.02% 12.15% 11.42% 14,062 14,112 13,834 5 Years 23.18% 18.05% 16.03% 28,377 22,939 21,038 7 Years 16.29% 13.20% 12.33% 28,800 23,851 22, Years 17.50% 12.33% 11.45% 50,193 32,017 29,585 Since Inception (29 December, 2006) 15.30% 11.27% 10.83% 52,100 34,498 32,936 Past performance may or may not be sustained in future The performance details provided herein are of existing plan (non - direct plan) Growth Option. Different plans have different expense structure. For calculating returns since inception, NAV as on the date of allotment is taken as Rs. 10/-. Face Value per unit is Rs. 10/-. Returns above 1 year are Compounded Annualised Growth Rate (CAGR). Benchmark Returns are calculated using Total Return variant of respective Benchmark Index. Fund Managers : Mr. Amit Ganatra & Mr. Dhimant Kothari managing since 29 March For performance of other schemes managed by the fund managers, please refer to the slide on Performance of other schemes managed. Please also refer slides on SIP performance of the fund and SIP performance of other schemes managed by the fund managers. For performance of direct plans please refer to latest factsheet on our website or click on the link: 11

12 Invesco India Tax Plan SIP Performance SIP Analysis as on July 31, 2018 (Rs. 10,000 invested on the first business day of every month) Fund Managers: Amit Ganatra and Dhimant Kothari SIP investment Total amount invested Invesco India Tax Plan S&P BSE Nifty 50 2 Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR 1 Year 120, , % 129, % 132, % 3 Years 360, , % 466, % 468, % 5 Years 600, , % 890, % 867, % 7 Years 840,000 1,653, % 1,471, % 1,412, % 10 Years 1,200,000 3,129, % 2,562, % 2,427, % Since Inception 1,390,000 3,992, % 3,124, % 2,961, % Past performance may or may not be sustained in future. The performance details provided herein are of existing plan (non - direct plan) Growth Option. Different plans have different expense structure. Load is not taken into consideration. Benchmark Returns are calculated using Total Return variant of respective Benchmark Index. For performance of other schemes managed by the fund managers, please refer to the slide on Performance of other schemes managed. Please also refer slides on SIP performance of other schemes managed by the fund managers. 1 Scheme Benchmark. 2 Additional Benchmark. Inception date: 29 December Note: XIRR method is used to calculate SIP returns. The above investment simulation is for illustrative purpose only and should not be construed as a promise on minimum returns and safeguard of capital. Invesco Asset Management (India) Private Limited/Invesco Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not ensure a profit or guarantee protection against a loss in a declining market. Please refer SIP Enrolment Form or contact nearest ISC for Load Structure. 12

13 Investment Strategy & Portfolio Construction Guidelines The fund invests across market cap and sectors utilizing the bottom up approach The portfolio has a growth bias Well diversified portfolio No. of holdings: stocks 1 Owns our best 2 Largecap & Midcap ideas The fund uses Stock selection, Capitalization bias & Sector allocation to generate alpha Note: For definition of largecaps and midcaps kindly refer to slide: Annexure - Definition for Large Cap / Mid Cap / Small Cap. 1 Based on our current views on equity market, the number of stocks may change from time to time. 2 Reference to best ideas in Largecap and Midcap stocks is as per our internal research & analysis and should not be construed as recommendation from Invesco Asset Management (India) Private Limited / Invesco Mutual Fund. Our view is subject to change from time to time based on the prevailing market conditions. The schemes of Invesco Mutual Fund may or may not hold any position in these stocks. 13

14 Portfolio Update and Outlook The fund is managed with a long term perspective Invests in companies which are growing their business on a sustainable and profitable basis and are available at a reasonable price Has a well diversified portfolio with a significant deviation from benchmark Currently invested about 74.62% 1 in Large Caps and rest in Mid and Small Caps At present, we are overweight in sectors 2 : Consumer Discretionary Industrials The fund is currently underweight in sectors 2 : Consumer Staples Materials 1 As on July 31, Based on Global Industry Classification Standard (GICS) Sector classification. The sectors referred above should not be construed as recommendations from Invesco Asset Management (India) Private Limited and/or Invesco Mutual Fund. The Scheme may or may not have any present or future positions in these sectors. For definition of largecaps, midcaps and small caps kindly refer to slide: Annexure - Definition for Large Cap / Mid Cap / Small Cap. 14

15 Invesco India Tax Plan Growth bias Composition of Growth & Value Stocks (in %) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Growth Stocks Value Stocks Source: Internal. Based on internal stock classification and is subject to change from time to time without notice. Growth stocks include Leader, Warrior and Star stock categories; Value stocks include Diamond, Frog Prince, Shotgun and Commodity stock categories. Please refer slide Annexure- Stock Categorization Framework for details 15

16 Invesco India Tax Plan Focus on quality portfolio Average Return on Equity (ROE) of portfolio companies Fund Benchmark Past performance may or may not be sustained in future. The above graph is for illustration purpose only and should not be construed as a promise on minimum returns and safeguard of capital. Invesco Asset Management (India) Pvt. Ltd. is not guaranteeing or forecasting any returns. Average Return on Equity is from March 2014 till June Scheme Benchmark: S&P BSE 200. Source: FactSet (Financial research and analytics tool) Note: Portfolio ROE is calculated by FactSet using Weighted Average Harmonic Mean methodology as it reduces impact of extremes/outliers. The above data shows that due to quality stock picking, the portfolio has higher Return on Equity (ROE) vis-à-vis benchmark. ROE should not be construed as performance of the Scheme as the Scheme would be constituted of number of stocks having different weights and the individual stock held by the Scheme may or may not give positive returns. Please refer slide on Lumpsum Performance for performance of the Scheme. 16

17 Invesco India Tax Plan Top 10 holdings Top 10 holdings % of Net Assets HDFC Bank Limited 9.38% Reliance Industries Limited 8.96% Infosys Limited 6.37% Maruti Suzuki India Limited 5.69% ICICI Bank Limited 5.45% Portfolio Details* Fund Benchmark Index Standard Deviation (Monthly) 4.08% 4.04% Sharpe Ratio (Monthly) Beta R Squared IndusInd Bank Limited 5.31% Market Cap Break up % of Net Assets Larsen & Toubro Limited 4.97% L&T Finance Holdings Limited 3.32% Kotak Mahindra Bank Limited 3.32% Large Cap 74.62% Mid Cap 12.65% Small Cap 10.74% Mahindra & Mahindra Limited 3.14% Total 55.91% Weighted Average Market Cap Median Market Cap Rs. 211,151 Crs Rs. 34,047 Crs Past performance may or may not be sustained in future *Risk ratios based on 3 years, monthly data history. (Risk- free rate of 6.25% based on overnight MIBOR). Data as on July 31, Benchmark S&P BSE 200. Benchmark Returns are calculated using Total Return variant of respective Benchmark Index. The stocks referred above should not be construed as recommendations from Invesco Asset Management (India) Private Limited and/or Invesco Mutual Fund. The Scheme may or may not have any present or future positions in these stocks. 17

18 Invesco India Tax Plan Top 10 active holdings Top 10 Active Holdings % Weight (Fund) % Weight (Benchmark) % Overweight Indusind Bank Ltd 5.31% 1.74% 3.57% Maruti Suzuki India Ltd 5.69% 2.17% 3.52% L&T Finance Holdings Ltd 3.32% 0.19% 3.13% Mphasis Ltd 2.71% 0.15% 2.56% Reliance Industries Ltd 8.96% 6.57% 2.39% Larsen & Toubro Ltd 4.97% 2.72% 2.25% Cipla Ltd 2.73% 0.56% 2.17% ICICI Bank Ltd 5.45% 3.34% 2.11% Cyient Ltd 2.06% 0.00% 2.06% Infosys Ltd 6.37% 4.45% 1.92% Data as of July 31, Benchmark- S&P BSE 200 Source: Bloomberg/Internal. Fund: Invesco India Tax Plan. The stocks referred above should not be construed as recommendations from Invesco Asset Management (India) Private Limited and/or Invesco Mutual Fund. The Scheme may or may not have any present or future positions in these stocks. 18

19 Invesco India Tax Plan Sector Allocation Significant deviation from benchmark Sector Portfolio Weight (%) Benchmark Weight (%) Overweight/underweight vis-à-vis benchmark (%) Consumer Discretionary 20.97% 10.79% 10.18% Industrials 11.45% 6.39% 5.06% Energy 12.29% 9.82% 2.47% Information Technology 11.14% 10.71% 0.43% Health Care 4.66% 4.59% 0.07% Real Estate 0.00% 0.31% -0.31% Telecommunication Services 0.00% 1.33% -1.33% Utilities 1.61% 3.14% -1.53% Financials 30.59% 34.08% -3.49% Materials 1.84% 8.52% -6.68% Consumer Staples 3.46% 10.32% -6.86% Due to our pro-cyclical bias, we are overweight in consumer discretionary and Industrials We are overweight in healthcare and information technology which are beneficiaries of rupee depreciation Data as of July 31, Benchmark: S&P BSE 200 Source: Bloomberg. Based on Global Industry Classification Standard (GICS) Sector classification. The sectors referred above should not be construed as recommendations from Invesco Asset Management (India) Private Limited and/or Invesco Mutual Fund. The Scheme may or may not have any present or future positions in these sectors 19

20 Invesco India Tax Plan Flexibility to move across market cap Weighted Average Market Cap 250,000 Large Cap biased 200,000 Mid Cap biased 150, ,000 50,000 0 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Rs. Crs Jun-18 Fund Benchmark Source: Bloomberg. The above chart denotes the weighted average market cap of scheme versus benchmark. The purpose of this slide is to bring out the fact that the scheme has flexibility to move across market cap. Benchmark: S&P BSE 100 (March 2014 to March 2018) and S&P BSE 200 from April 2018 (changed pursuant to categorization and rationalization of mutual fund schemes in accordance with SEBI circular dated October 06, 2017). The market cap categorization was based on our internal definitions upto March From April 2018, market cap categorization is as defined under SEBI circular dated October 06, 2017 read with SEBI Circular dated December 4, For further details kindly refer to slide: Annexure - Definition for Large Cap / Mid Cap / Small Cap 20

21 Performance of the fund on a rolling 3-year & 5- year basis had you invested on any day 3 years daily rolling performance 5 year daily rolling performance Fund Benchmark Fund Benchmark +ve 98.63% +ve 96.08% +ve 100% +ve 98.52% -ve 1.37% -ve 3.92% -ve 0.00% -ve 1.48% 3 years daily rolling performance 5 year daily rolling performance Outperformed the Outperformed the 16.69% benchmark in 99.53% of benchmark in 100% of 16.02% the rolling 3-year periods the rolling 5-year periods 11.60% 11.23% Fund Average Returns Benchmark Fund Benchmark Average Returns 21 The probability of generating positive rate of return is higher when invested for a longer period Past performance may or may not be sustained in future. Data as on 31 July Source: MFIE. The performance details provided herein are of existing plan (non - direct plan) Growth Option. Different plans have different expense structure. The rolling returns are calculated on daily basis for various time frame. The above simulation is for illustration purpose only and should not be construed as a promise on minimum returns and safeguard of capital. Invesco Asset Management (India) Private Limited/Invesco Mutual Fund is not guaranteeing or forecasting any returns. Please refer scheme performance table on slide 17. For performance of other schemes managed by the fund manager, please refer to the slide on Performance of other schemes managed. Data Period : 3 years rolling - 31 December, 2009 July 31, 2018, 5 years rolling - 30 December, 2011 July 31, Returns are Compounded Annualised Growth Rate (CAGR). In 3 years rolling period maximum return deliver by fund is 35.63% and minimum is -1.27% vs 32.80% and -3.34% by benchmark. In 5 years rolling period maximum return deliver by fund is 25.72% and minimum is 3.40% vs 23.70% and -0.73% by benchmark. Benchmark: S&P BSE 200. Benchmark Returns are calculated using Total Return variant of respective Benchmark Index.

22 Invesco India Tax Plan Portfolio Characteristics Characteristic Fund S&P BSE Month Trailing Price to Earnings Historical 3 year EPS Growth2 16.2% 12.2% 12 Month Trailing Price to Cash flow Month Trailing Price to Book Value ROE-FY % 12.6% Source: Factset. Data as on July 31, Weighted Harmonic Mean 2 Weighted Arithmetic Mean. Weighted Arithmetic Mean is an average resulting from the multiplication of observation for each company by the weightage of that stock in the portfolio/index. Weighted Harmonic Mean is an average resulting from the multiplication of the reciprocal of the observation for each component by the weightage of that stock in the portfolio/index. It reduces the impact of outliers. ROE: Return on Equity. EPS: Earnings Per Share. EPS growth for FY15-FY18. 22

23 Dividend Track Record Year Record Date Dividend Per unit Cum-Dividend NAV p.u Jan Nov Jan Mar Dec Dec Dec Dec Jan Past performance may or may not be sustained in future Dividend is on face value of Rs. 10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme. Per unit dividend (in Rs.) declared by direct plan: (Cum-dividend NAV p.u. Rs ), (Cum-dividend NAV p.u. Rs ), (Cum-dividend NAV p.u. Rs ), (Cum-dividend NAV p.u. Rs ), (Cum-dividend NAV p.u. Rs ) 23

24 Key Facts Type Investment Objective Asset Allocation An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. To generate long term capital appreciation from a diversified portfolio of predominantly equity and equity-related Instruments. Type of Instruments Indicative Allocations (% of Net Assets) Risk Profile Equity & Equity Related Instruments % High Minimum Application Amount Money Market Instruments 0 20% Low to medium The Scheme may use derivatives for the purpose as may be permitted from time to time. The maximum derivative position will be restricted to 50% of the Net assets of the Scheme, subject to the limits as specified by SEBI, from time to time. The cumulative gross exposure through equity, debt and derivative positions shall not exceed 100% of the net assets of the scheme, subject to provisions of SEBI circular dated August 18, 2010 w.r.t. investment in derivatives. Lumpsum: Rs. 500/- and in multiples of Rs. 500/- thereafter. Systematic Investment Plan (SIP): Options Minimum Amount Minimum Installments Monthly Rs. 500/- per month and in multiples of Rs. 500/- thereafter Quarterly Rs. 500/- per quarter and in multiples of Rs 500 thereafter 4 12 (where each installment is Rs. 500 per month but less than Rs. 1,000 per month) 6 (where SIP installment is Rs. 1,000 or more per month) Plans 1 /Options 4 (Applicable for Direct Plan also) Growth Option Dividend Payout Loads (For Lumpsum/SIP purchase) Entry Load: Nil 2 Exit Load: Nil 3 Redemption of units can be made only after 3 years of lock-in period from the date of allotment of the units proposed to be redeemed. Fund Manager Amit Ganatra & Dhimant Kothari Benchmark S&P BSE Direct Plan will have a lower expense ratio excluding distribution expenses, commission for distribution of Units etc. 2 The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor 3 Exit load charged, if any, will be credited back to the scheme, net of Goods and Services Tax 4 Dividend Reinvestment facility has been discontinued w.e.f. January 16, 2015 Benchmark based on Total Return variant of respective Benchmark Index.

25 Performance of other schemes managed Performance as on July 31, 2018 Period Returns (% CAGR) 1 Year 3 Years 5 Years 7 Years 10 Years Fund Benchmark Fund Benchmark Fund Benchmark Fund Benchmark Fund Benchmark Fund Managers: Taher Badshah & Amit Ganatra Invesco India Contra Fund 18.29% 11.48% 14.58% 12.27% 27.26% 18.53% 17.06% 13.13% 17.69% 12.26% Invesco India Growth Opportunities Fund 13.65% 12.20% 11.90% 12.98% 20.70% 20.26% 14.95% 14.14% 14.50% 13.30% Fund Managers: Amit Ganatra & Dhimant Kothari Invesco India Financial Services Fund 6.10% 14.24% 15.14% 15.93% 23.67% 23.35% 15.33% 16.32% - - Fund Managers: Amit Ganatra & Nitin Gosar Invesco India Largecap Fund 12.22% 14.20% 10.49% 11.42% 17.96% 16.03% 13.38% 12.33% - - Past performance may or may not be sustained in future. The performance details provided herein are of existing plan (non - direct plan) Growth Option. Different plans have different expense structure. Face Value per unit is Rs. 10/-. Returns above 1 year are Compounded Annualised Growth Rate (CAGR). Benchmark Returns are calculated using Total Return variant of respective Benchmark Index. No. of schemes managed - Mr. Amit Ganatra : 6. Mr. Dhimant Kothari: 2. Funds benchmark- Invesco India Contra Fund: S&P BSE 500; Invesco India Largecap Fund: Nifty 50; Invesco India Financial Services Fund: Nifty Financial Services; Invesco India Growth Opportunities Fund: S&P BSE 250 Large Midcap 65:35. Performance details of schemes that have not yet completed 10 years have not been provided. Fund Managers managing the schemes since: Invesco India Largecap Fund- Amit Ganatra and Nitin Gosar March 29, 2018; Invesco India Contra Fund Taher Badshah January 13, 2017 and Amit Ganatra - August 14, 2012; Invesco India Financial Services Fund- Amit Ganatra November 9, 2010 & Dhimant Kothari June 1, 2018; Invesco India Growth Opportunities Fund Taher Badshah January 13, 2017 & Amit Ganatra June 23, 2014; Invesco India Equity & Bond Fund Amit Ganatra, Taher Badshah (For equity investments) and Krishna Cheemalapati (For debt investments) June 30, Invesco India Equity & Bond Fund has not completed 1 year, hence performance data is not provided. For performance of direct plans please refer to latest factsheet on our website or click on the link: 25

26 SIP Performance of other schemes managed SIP Analysis as on July 31, 2018 (Rs. 10,000 invested on the first business day of every month) Fund Managers: Taher Badshah & Amit Ganatra SIP investment Total amount invested Invesco India Contra Fund S&P BSE Nifty 50 2 Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR 1 Year 120, , % 128, % 132, % 3 Years 360, , % 464, % 468, % 5 Years 600,000 1,013, % 892, % 867, % 7 years 840,000 1,768, % 1,476, % 1,412, % 10 years 1,200,000 3,253, % 2,570, % 2,427, % Since Inception 1,360,000 3,945, % 3,018, % 2,861, % SIP investment Total amount invested Invesco India Growth Opportunities Fund S&P BSE 250 Large Midcap 65:35 1 Nifty 50 2 Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR 1 Year 120, , % 127, % 132, % 3 Years 360, , % 466, % 468, % 5 Years 600, , % 921, % 867, % 7 Years 840,000 1,580, % 1,543, % 1,412, % 10 Years 1,200,000 2,822, % 2,730, % 2,427, % Since Inception 1,320,000 3,200, % 3,072, % 2,736, % Past performance may or may not be sustained in future. The performance details provided herein are of existing plan (non - direct plan) Growth Option. Different plans have different expense structure. Load is not taken into consideration. Benchmark Returns are calculated using Total Return variant of respective Benchmark Index. For performance of other schemes managed by the fund managers, please refer to the slide on Performance of other schemes managed. 1 Scheme Benchmark. 2 Additional Benchmark. Inception date: Invesco India Contra Fund 11 April, 2007 ; Invesco India Growth Opportunities Fund 09 August Note: XIRR method is used to calculate SIP returns. The above investment simulation is for illustrative purpose only and should not be construed as a promise on minimum returns and safeguard of capital. Invesco Asset Management (India) Private Limited/Invesco Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not ensure a profit or guarantee protection against a loss in a declining market. Please refer SIP Enrolment Form or contact nearest ISC for Load Structure. 26

27 SIP Performance of other schemes managed SIP Analysis as on July 31, 2018 (Rs. 10,000 invested on the first business day of every month) SIP investment Total amount invested Fund Managers: Amit Ganatra and Dhimant Kothari Invesco India Financial Services Fund Nifty Financial Services 1 Nifty 50 2 Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR 1 Year 120, , % 134, % 132, % 3 Years 360, , % 512, % 468, % 5 Years 600, , % 1,018, % 867, % 7 Years 840,000 1,667, % 1,707, % 1,412, % 10 Years 1,200,000 3,115, % 3,218, % 2,427, % Since Inception 1,210,000 3,170, % 3,275, % 2,459, % Fund Managers: Amit Ganatra and Nitin Gosar SIP investment Total amount invested Invesco India Largecap Fund Nifty 50 1 S&P BSE Sensex 2 Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR Market value SIP returns (%) XIRR 1 Year 120, , % 132, % 134, % 3 Years 360, , % 468, % 475, % 5 Years 600, , % 867, % 873, % 7 Years 840,000 1,464, % 1,412, % 1,424, % Since Inception 1,080,000 2,064, % 1,978, % 1,996, % Past performance may or may not be sustained in future. The performance details provided herein are of existing plan (non - direct plan) Growth Option. Different plans have different expense structure. Load is not taken into consideration. Benchmark Returns are calculated using Total Return variant of respective Benchmark Index. For performance of other schemes managed by the fund managers, please refer to the slide on Performance of other schemes managed. 1 Scheme Benchmark. 2 Additional Benchmark. Inception date: Invesco India Financial Services Fund- 14 July 2008; Invesco India Largecap Fund 21 August 2009 Note: XIRR method is used to calculate SIP returns. The above investment simulation is for illustrative purpose only and should not be construed as a promise on minimum returns and safeguard of capital. Invesco Asset Management (India) Private Limited/Invesco Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not ensure a profit or guarantee protection against a loss in a declining market. Please refer SIP Enrolment Form or contact nearest ISC for Load Structure. 27

28 Annexure Definition for Large Cap / Mid Cap / Small Cap In terms of full market capitalization Large Cap Mid Cap Small Cap 1 st 100 th company 101 st 250 th company 251 st company onwards Market Cap Range (Rs. Crs) Large Cap 30,609 6,09,949 Mid Cap 9,984 29,338 Small Cap Less than 9,948 Source: AMFI. Data as at 30 June 2018 Note: Pursuant to SEBI Circular no. SEBI/HO/IMD/DF3/CIR/P/2017/114 dated October 6, 2017 read with Circular No. SEBI/HO/IMD/DF3/CIR/P/2017/126 dated December 4, 2017 on Categorization and Rationalization of Mutual Fund Schemes: Large Cap companies mean 1st - 100th company, Mid Cap companies mean 101st - 250th and Small Cap companies mean : 251st company onwards in terms of full market capitalization based on average of full market capitalization of the stock on all such stock exchange or such other companies specified by SEBI, which is updated every six months as on end of June and December, each year 28

29 Annexure Stock Categorization Framework Stock Category Leader Warrior Descriptions (e.g.) Established companies Young/established companies Growth Prospects (e.g.) In line or better than industry Better than industry Company Attribute (e.g.) Track record of leadership, globally competitive Unique proposition and/or right place, right time Star Young companies High growth Entrepreneur vision, scalability Diamond Frog Prince Shotgun Company with valuable assets Company in a turnaround situation Opportunistic investment Low growth Back to growth Positive surprise Management intent to unlock value Intrinsic strengths in core business Corporate event, restructuring, earnings news Financial Parameter (e.g.) Industry leading margin/roe Margin & ROE Expansion Operating Leverage Value of asset/business P2P, ROE expansion Event visibility Growth Value Event Commodities Call on the cycle is paramount Positive Integration, cost efficiency, globally competitive Profit leverage The categorization framework enables us to filter the universe and identify the best investment opportunities P2P: Path to Profit; ROE: Return on Equity. The above table is internal proprietary stock categorization 29

30 Disclaimer Disclaimer: This presentation is for information purposes only and is not an offer to sell or a solicitation to buy any mutual fund units/securities. The Fund may or may not have any present or future positions in these stocks. This document alone is not sufficient and shouldn t be used for the development or implementation of an investment strategy. It should not be construed as investment advice to any party. All figures, charts/graphs and data included in this document are as on date and are subject to change without notice. The data used in this document is obtained by Invesco Asset Management (India) Private Limited from the sources which it considers reliable. While utmost care has been exercised while preparing this document, Invesco Asset Management (India) Private Limited does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. The content of this document is intended solely for the use of the addressee. If you are not the addressee or the person responsible for delivering it to the addressee, any disclosure, copying, distribution or any action taken or omitted to be taken in reliance on it is prohibited and may be unlawful. The recipient(s) before acting on any information herein should make his/their own investigation and seek appropriate professional advice. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 30

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