M U T U A L F U N D REVIEW FUND

Transcription

1 M U T U A L F U N D REVIEW FUND MARCH 2011

2 Equity Commentary The key highlight of the month was the expectation of the budget and the deliverables thereof. The Political turmoil and uncertainty in Middle East and North Africa (MENA) and rising Oil prices ensured volatility in the capital markets. The tone of the budget was encouraging with government emphasizing the importance of growth, more importantly inclusive growth, improving regulatory practices and shift towards a transparent and result oriented budget. Real GDP growth pegged at 8.75% to 9.25% is optimistic but revenue growth assumptions are fine. The fiscal deficit target at 4.60% of the GDP is stretched in our estimate with lower provision for subsidies. With Oil, Food and Fertilizer prices at their highs one needs to see how achievable the Fiscal deficit target is. In addition, if the government decides to implement the Food Security Act during the year, there will be an additional expenditure on food subsidy. The budget addressed the following issues which we believe are enablers for a sustainable India Growth story- 1) Tax measures - broadly revenue neutral 2) Transparency and accountability Addresses leakages 3) Focus on raising the growth potential both agriculture and manufacturing 4) More Foreign Investments opens the window for Foreign investors 5) Inclusive Growth Increased allocation towards various social scheme to improve penetration. What we liked 1) Impetus to agriculture - the agricultural sector was a big beneficiary, including support to address bottlenecks in the supply-chain, processing and enhancing productivity. 2) Trying to bring in transparency and accountability thru fiscal responsibility, direct subsidy in lieu of opaque bonds and eventually direct cash transfer to end beneficiary 3) Determination to bring in DTC, GST, Insurance bills 4) Anti Inflationary No tax exemptions, no major increase in allocation to populist schemes 5) Foreign investors allowed to invest directly in SEBI Registered Mutual funds meeting KYC norms What we did not like 1) Optimistism of expenditure especially on the subsidy and hence likely slip up in the fiscal From an equity market perspective there are no radical changes that would warrant a significant change in current outlook. With the even behind us the focus shifts back to the core issues of political risk in the MENA region, high oil prices and inflation. In the longer term incomes would grow with the focus on the agrarian sector, which is good for the consumer economy. In the Investment economy the focus would be on companies with a good execution track record, which could leverage on the various options to raise long term capital. Market Indicators Security 28th February st January 2011 Month on Month Change Basis Points (bps). Yield % Yield % Policy Rates Reverse Repo Rate Repo Rate Cash Reserve Ratio (CRR) Liquidity Average Reverse Repo RsCrores Average Repo Rscrores Average Call Rate % Government Securities 91 Day T-Bill Day T-Bill Five Year Benchmark Ten Year Benchmark Currency USD/INR Rs % Inflation (% Change Year on Year) Month Ended January 2011 Month Ended December 2010 WPI Corporate Bonds 5 Year AAA Benchmark Month CD Benchmark Year CD Benchmark Interest Rate Swaps 1 Year OIS* Year OIS* *Overnight Index Swap Source : RBI, CCIL, Bloomberg Debt Commentary The major event in February for domestic bond markets was the presentation of the Union Budget by the finance minister. The key highlights are captured below: Budget Revised Estimates Estimates Year on Year Growth (%) Revenue Receipts 789, , % Tax Revenue (Net) 664, , % Non-Tax Revenue 125, , % Non-Debt Capital Receipts 55,020 31, % Receipts 844, , % Non-Plan Expenditure 816, , % Plan Expenditure 441, , % Expenditure 1,257,729 1,216, % Fiscal Deficit 412, , % Fiscal deficit as a % of market GDP has been pegged at 5.1% for FY 11 and 4.6% for FY 12. After the recent release of GDP figures for FY 11 by the Central Statistical Organization (CSO), market GDP for the year had been substantially revised upwards thereby providing ample room for the GOI to better fiscal deficit %ages both for the current year and the next. Using this advantage, the fiscal deficit for the current year has been pegged at 5.1% from 5.5% projected earlier even though the absolute deficit amount has actually been revised upward by almost INR 20,000 crores. The same advantage is evident in the fiscal deficit target of 4.6% for FY 12 as well. However, to be fair, the absolute growth projected in fiscal deficit target is also extremely small at INR 12,000 crores. As a result, the net market borrowing has been projected at INR 3,43,000 crores for FY 12 versus INR 3,35,414 crores for the current year. This compares with market expectation of INR 3,70,000 3,80,000 crores. The positive surprise has had a near term positive impact on bond yields. Internationally, the key development was a further spread in the public uprising in North Africa with Libya undergoing a strong backlash against the existing ruler. Given the significance of the country as an oil producer, along with signs of unrest in Middle East as well, oil prices rose sharply with Brent heading towards USD 120 per barrel at one point. The rise in oil prices is a fresh source of worry for policy makers around the world as it comes on the back of already elevated metal and food prices. Meanwhile, economic data points around the world continued their uptrend with latest releases on purchasing manager indices (PMIs) on both manufacturing and services indicating ongoing recovery in the developed world. Going Forward The projected fiscal deficit and net borrowing numbers come as a positive surprise for the market and have translated into near term bullish sentiment. This sentiment may keep bond prices supported into end of financial year especially since there is hardly any supply due from here till March 31st. Also, robust deposit accretion should ensure support from SLR demand as well. However, given that the supply calendar is typically front loaded, starting April it is likely that weekly auctions of INR 12,000 13,000 crores will re-start. As we have seen historically, it becomes very difficult for bond yields not to rise in the face of such steady supply. Additionally, the curve is extremely flat currently with 10 over 1 spreads at hardly 50 bps. Thus there is little to be said about attractiveness of government bond yields at current levels. We reiterate our view that the curve should begin to steepen starting April. This will be especially true for the corporate bond curve which is currently inverted. Triggers for the same would be improvement in system liquidity on the back of accelerated government spending from here towards fiscal end as well as lesser pressure on banks to continue to raise deposits starting the new financial year. The best place to play the trade would be the front end of the corporate curve (up to 1 year). Yield Curve 9.00% 8.00% 7.00% 6.00% 31st January th February

3 IDFC Classic Equity Fund (IDFC - CEF) An Open Ended Equity Fund Nature: Equity Fund Manager: Mr. Tridib Pathak Investment objective: The investment objective of the scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments.however there is no assurance that the investment objective of the scheme will be realized. Investment style: The Scheme seeks to achieve outperformance through sector rotation, theme selection, market cap bias and bottom up stock picking. Ideal investment horizon: 3 years or more Entry load : (Plan A & Plan B): Nil Exit load: (Plan A & Plan B): All investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options. (w.e.f. September 01, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option. Minimum investment amount ( Plan A & Plan B): `5,000 & in multiples of `1 Additional investment amount: `1 SIP (minimum amount) ( Plan A & Plan B): `1000 Inception Date (Plan A): 9 August 2005 Inception Date (Plan B): 2 April 2009 Statistical Measures: Beta 0.87 R Square 0.94 Standard deviation 8.59% Last 3 dividends (`/ unit): 22-Aug NAV May NAV Oct NAV NAV (`): Growth (A) (B) Dividend (A) (B) Face value (`/ unit): 10 Asset allocation(equity / debt / cash/derivatives):91.82%/5.14% 2.37%/0.66% Fund manager s comment: Run as a well-diversified portfolio, the opportunity for the fund is to capture the breadth of the market across sectors, market capitalizations, styles and themes. The fund has maintained exposure midcaps to around 30% and has maintained higher diversification across sectors. SIP Returns Period Investment Value Scheme Return Benchmark Return % 9.38% 3 year % 14.69% 2 year % 8.24% 1 year % % Name in Lac(`) % of NAV Mahindra & Mahindra Ltd TVS Motor Company Ltd Auto Jammu & Kashmir Bank Ltd Axis Bank Ltd ICICI Bank Ltd ICICI Bank Ltd. (Futures) Corporation Bank Banks Whirlpool Of India Ltd Consumer Durables I T C Ltd Consumer Non Durables VA Tech Wabag Engineering Services Jindal Steel & Power Ltd Ferrous Metals Bharat Heavy Electricals Ltd Industrial Capital Goods Cummins India Ltd Industrial Products Coal India Ltd Minerals/mining Manappuram General Finance and Leasing Ltd Miscellaneous Hindustan Zinc Ltd Non - Ferrous Metals Cairn India Ltd Oil & Natural Gas Corporation Ltd Oil Reliance Industries Ltd Castrol (India) Ltd Petroleum Products Torrent Pharmaceuticals Ltd Cipla Ltd Pharmaceuticals Infosys Technologies Ltd Tata Consultancy Services Ltd Mphasis Ltd Educomp Solutions Ltd HCL Technologies Ltd Everonn Systems India Ltd Software Bharti Airtel Ltd Telecom - Services IRB Infrastructure Developers Ltd Transportation Derivative CBLO Net Current Asset Grand Fund Performance under the IDFC-CEF-Growth % 44.56% %-10.83% -9.45% -5.08% 2.15% 5.48% -3.69% -0.48% 8.43% 11.03% 12.64% 15.37% month 6 month 1 year 2 year 3 year 5 year IDFC-CEF Growth BSE 200 Past performance may or may not be sustained in future. Benchmark: BSE 200 ( ) Transportation Industrial Products Engineering Services Consumer Non Durables Telecom - Services Consumer Durables Ferrous Metals Industrial Capital Goods Miscellaneous Non - Ferrous Metals Pharmaceuticals Auto Minerals/mining Oil Banks Petroleum Products Software 2

4 IDFC Imperial Equity Fund (IDFC - IEF) An Open Ended Equity Fund Nature: Equity Fund Manager: Mr. Tridib Pathak (w.e.f.26 April 2010) Investment objective: The investment objective is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or guarantee that the objectives of the scheme will be realized. Investment style: The Scheme seeks to invest predominantly in companies based on the potential value unlocking (subsidiary listing), strong growth in domestic demand and emerging sectors in the Indian economy. Ideal investment horizon: 3 years or more Entry load: (Plan A & Plan B): Nil Exit load: (Plan A & Plan B): All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options. (w.e.f. September 01, 2009). In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option. Minimum investment amount (Plan A & Plan B): `5,000 Additional investment amount: `1 SIP (minimum amount) (Plan A & Plan B: `1,000 Inception Date (Plan A): 16 March 2006 Inception Date (Plan B): 2 April 2009 Statistical Measures: Beta 0.86 R Square 0.96 Standard deviation 8.06% Last 3 dividends (`/ unit): 08-Jun NAV Plan A 15-Jun NAV Plan B 14-May NAV NAV (`): Growth (A) (B) Dividend (A) (B) Face value (`/ unit): 10 Asset allocation (equity/debt /cash/derivatives): 92.50% 5.79% / 1.29%/0.42% Fund manager s comment: Imperial fund is a diversified large cap biased fund. The portfolio construction has revolved around selecting well established companies which have high capital efficiency or are moving towards improving their capital efficiency further and are available at reasonable valuations and growth. SIP Returns Period Investment Value Scheme Return Benchmark Return % 8.85% 3 year % 13.94% 2 year % 8.84% 1 year % -7.60% Name in Lac(`) % of NAV Mahindra & Mahindra Ltd Bajaj Auto Ltd Auto Axis Bank Ltd HDFC Bank Ltd ICICI Bank Ltd. (Futures) ICICI Bank Ltd Bank of Baroda Corporation Bank Banks I T C Ltd Nestle India Ltd Consumer Non Durables Jindal Steel & Power Ltd Ferrous Metals Bharat Heavy Electricals Ltd Industrial Capital Goods Coal India Ltd Minerals/mining Sterlite Industries (India) Ltd Non - Ferrous Metals Cairn India Ltd Oil India Ltd Oil & Natural Gas Corporation Ltd Oil Reliance Industries Ltd Petroleum Products Cipla Ltd Torrent Pharmaceuticals Ltd Pharmaceuticals Infosys Technologies Ltd Tata Consultancy Services Ltd Wipro Ltd HCL Technologies Ltd Software Bharti Airtel Ltd Telecom - Services Derivative Other Equity CBLO Net Current Asset Grand Fund Performance under the IDFC-IEF-Growth 34.79% 38.85% Miscellaneous Consumer Durables Telecom - Services Non - Ferrous Metals Industrial Capital Goods Ferrous Metals Consumer Non Durables Minerals/mining Pharmaceuticals Oil Auto Petroleum Products Banks Software -9.76% -9.03% 3 month -4.17% -1.28% 6 month 5.75% 8.30% 1 year 2 year 4.58% 0.70% 3 year 13.04% 10.67% ( ) & Rankings IDFC-IEF Growth Past performance may or may not be sustained in future. Benchmark: S&P CNX Nifty S&P CNX Nifty Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page 57. 3

5 IDFC Nifty Fund (IDFC - NF) An Open Ended Index Linked Equity Scheme Nature: Equity Fund Manager: Mr. Tridib Pathak Investment objective: The investment objective of the scheme is to replicate the S&P CNX Nifty Index by investing in securities of the S&P CNX Nifty Index in the same proportion/weightage. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. Investment style: The Scheme will be managed passively with investments in stocks in a proportion that it is as close as possible to the weightages of these stocks in the S&P CNX Nifty Index. The investment strategy would revolve around reducing the tracking error to the least possible through rebalancing of the portfolio, taking into account the change in weights of stocks in the index as well as the incremental collections/redemptions from the Scheme. Ideal investment horizon: 3 years or more Entry load: Nil Exit load: Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed /switched out within seven days from the date of allotment. (w.e.f Jan 14, 2011) Options available: Growth, Dividend, Reinvestment facility is available under the Dividend Option. Minimum investment amount: `500/- & in multiples of `1 Additional investment amount: `1 SIP (minimum amount): `500 Inception Date: 30 April 2010 NAV (`): Growth Dividend Face value (`/ unit): 10 Asset allocation (equity / debt / cash/derivatives):79.14% /16.12 %/ 4.74%/ Benchmark: S&P CNX Nifty Index SIP Returns Period Investment Value Scheme Return Benchmark Return % % Name in Lac(`) % of NAV Tata Motors Ltd Mahindra & Mahindra Ltd Auto ICICI Bank Ltd HDFC Bank Ltd State Bank of India Axis Bank Ltd Banks Larsen & Toubro Ltd Construction Project I T C Ltd Consumer Non Durables Hindustan Unilever Ltd Diversified Tata Steel Ltd Jindal Steel & Power Ltd Ferrous Metals Housing Development Finance Corporation Ltd Finance Bharat Heavy Electricals Ltd Industrial Capital Goods Hindalco Industries Ltd Sterlite Industries (India) Ltd Non - Ferrous Metals Oil & Natural Gas Corporation Ltd Oil Reliance Industries Ltd Petroleum Products NTPC Ltd Power Infosys Technologies Ltd Tata Consultancy Services Ltd Wipro Ltd Software Bharti Airtel Ltd Telecom - Services NIFTY Futures Futures Other Equity CBLO Net Current Asset Grand Fund Performance under the IDFC NF-Growth % -9.03% -9.30% -2.07% 0.82% 1.05% month 6 month ( ) IDFC-NIFTY Growth Past performance may or may not be sustained in future. Benchmark: S&P CNX Nifty S&P CNX Nifty Construction Minerals/mining Gas Cement Diversified Telecom - Services Industrial Capital Goods Oil Non - Ferrous Metals Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto Petroleum Products Software Banks 4

6 IDFC Premier Equity Fund (IDFC - PEF) An Open Ended Equity Fund Nature: Equity Fund Manager: Mr. Kenneth Andrade Investment objective: The Scheme shall seek to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment style: Focus on buying great companies at low valuation with a longer term perspective. The scheme portfolio would seek to acquire, inter alia, small and medium size business with good long term potential, which are available at cheap valuation. Such securities would be identified through disciplined fundamental research keeping in view medium to long term trends in the business environment. The Scheme shall endeavor to accumulate long term investor wealth by opening subscriptions to units during periods when stocks are available at reasonable valuations. By doing so, the fund managers would endeavor to prevent short term money from flowing into the fund which can prove detrimental to the interest of long term investors. Ideal investment horizon: 3 years or more Entry load: (Plan A & Plan B): Nil Exit load: (Plan A & Plan B): All investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options. (w.e.f. September 01, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option. Minimum investment amount (Plan A & Plan B): `25,000 Additional investment amount: `1 SIP (minimum amount) (Plan A & Plan B: `2000 Inception Date (Plan A): 28 September 2005 Inception Date (Plan B): 2 April 2009 Statistical Measures: Beta 0.91 R Square 0.88 Standard deviation 9.51% Last 3 dividends (`/ unit): 28-Apr NAV Mar 2.40 NAV Plan A 29 March 2010 B 2.00 NAV Plan B NAV (`): Growth (A) (B) Dividend (A) (B) Face value (`/ unit): 10 Asset allocation (equity/debt/cash/derivatives):78.22% / 21.38% / 0.27% / 0.13% Fund manager s comment: The portfolio has attempted to identify emerging themes & segment leaders which have a strong correlation to the growth of the economy. The fund is invested close to 90% with the balance in cash. The investment process & the diversification have not undergone any radical shift. The focus remains on buying into emerging business & taking a call on the entrepreneur /organization to ride through successfully the growth curve of the business cycle. Name in Lac(`) % of NAV Shriram Transport Finance Co. Ltd GlaxoSmithkline Consumer Healthcare Ltd Asian Paints Ltd Coromandel Fertilisers Ltd Page Industries Ltd IRB Infrastructure Developers Ltd Sun TV Network Ltd Petronet LNG Ltd Bata India Ltd Torrent Power Ltd Motherson Sumi Systems Ltd Shree Renuka Sugars Ltd Blue Dart Express Ltd United Spirits Ltd eclerx Services Ltd Top 15 Equities Other Equity Derivative Money Market Floating Rate Note Other Debt Corporate Bond Certificate of Deposit CBLO Net Current Asset Grand SIP Returns Period Investment Value Scheme Return Benchmark Return % 9.03% 5 year % 9.02% 3 year % 14.71% 2 year % 8.29% 1 year % % Fund Performance under the IDFC-PEF-Growth 57.47% 45.51% 21.43% 22.02% %-11.29% %-6.03% 12.45% 5.07% 7.84% -1.22% 10.64% 13.04% 3 month 6 month 1 year 2 year 3 year 5 year ( ) IDFC-PEF Growth BSE 500 Past performance may or may not be sustained in future. Benchmark: BSE & Rankings Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page 57. Industrial Capital Goods Miscellaneous Industrial Products Software Auto Ancillaries Consumer Durables Media & Entertainment Fertilisers Power Finance Gas Textile Products Transportation Consumer Non Durables 5

7 IDFC Arbitrage Fund (IDFC - AF) An Open Ended Equity Fund Nature: Equity & Equity Derivatives Fund Manager: Mr. Ritesh Kumar & Mr. Suyash Choudhary (w.e.f. 23 Dec 2010) Investment objective: The investment objective is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments 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. Investment style: The Scheme seeks to capture the Cost of Carry by executing simultaneous buy (in the cash market) and sell (In the futures) trades. The amount not so invested is invested in FDs and money market instruments. Ideal investment horizon: 1 year or more Entry load: Nil Exit load: 0.25% in both Plan A and Plan B, if redemption / switch is requested within 30 days from the date of purchase, during ongoing period. (w.e.f. August 24, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Plans available: Plan A (Regular), Plan B (Institutional) Options available: Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount: Plan A: `5,000, Plan B: `25,00,000 (w.e.f. July 6, 2009) Additional investment amount: `1 SIP (minimum amount): NA Inception Date: 21 December 2006 Statistical Measures: Standard deviation 0.29% Dividend frequency: Monthly, subject to availability of distributable surplus Last 8 dividends (`/ unit): 26-Aug NAV Plan B 12-Nov NAV Plan A 12-Nov NAV Plan B 14-Dec NAV Plan A 14-Dec NAV Plan B 12-Jan NAV Plan A 12-Jan NAV Plan B 11-Feb NAV Plan A 11-Feb NAV Plan B 10-Mar NAV Plan A 10-Mar NAV Plan B 19-Apr NAV Plan B 11-May NAV Plan B 21-Jun NAV Plan B 12-Jul NAV Plan B NAV (`): Plan A (Regular) Growth Plan A (Regular) Dividend Plan B (Institutional) Growth Plan B (Institutional) Dividend Face value (` / unit): 10 Asset allocation (equity / debt / cash): 67.25%/30.27%/2.48% Fund manager s comment: Cash-future spreads remained attractive in October. The fund was able to successfully rollover its futures positions into November. Name in Lac(`) % of NAV Value of Futures Reliance Mediaworks Ltd Alok Industries Ltd Apollo Tyres Ltd Aurobindo Pharma Ltd Mphasis Limited Bharat Forge Ltd Central Bank Of India Development Credit Bank Ltd GVK Power & Infrastructure Ltd Hcl Technologies Ltd Hindustan Construction Co. Ltd Hindalco Industries Ltd Hindustan Petroleum Corporation Ltd Tata Teleservices (Mah) Limited Firstsource Solutions Limited IVRCL Infrastructures & Projects Ltd Indian Bank Jindal Steel & Power Ltd JSW Steel Ltd Lanco Infratech Limited Mercator Lines Limited Moser Baer India Limited Ispat Industries Ltd Orchid Chemicals & Pharmaceuticals Ltd Oriental Bank of Commerce Pantaloon Retail (India) Ltd Power Grid Corporation Ltd Petronet Lng Ltd PTC India Limited Rural Electrification Corp Ltd Reliance Industries Ltd Suzlon Energy Ltd UCO Bank Vijaya Bank Yes Bank Ltd Equities CBLO Margin Fixed Deposit Net Current Asset Grand Fund Performance under the IDFC-AF-Growth % 3.47% 6.32% 5.84% 4.73% 4.86% 5.24% 6.22% 6.44% 6.54% % 1.88% 3 month 6 month 1 year IDFC-AF Growth Past performance may or may not be sustained in future. Benchmark: Crisil Liquid Fund Index 2 year 3 year Crisil Liquid Fund Index ( ) Media & Entertainment Telecom - Services Construction Project Hardware Transportation Construction Non - Ferrous Metals Industrial Products Auto Ancillaries Finance Gas Textile Products Industrial Capital Goods Software Power Pharmaceuticals Retailing Petroleum Products Ferrous Metals Banks 6

8 IDFC Equity Fund (IDFC - EF) An Open Ended Equity Scheme Nature: Equity Fund Manager: Mr. Kenneth Andrade Investment objective: The investment objective of the scheme is to seek to generate capital growth from a portfolio of predominantly equity and equity related instruments (Including Equity derivatives). The scheme may also invest in debt and money market instruments to generate reasonable income. However there is no assurance that the investment objective of the scheme will be realized. Investment Strategy (in brief): The strategy of the fund is to create outperformance over the NIFTY by allocating money passively into the NIFTY sector weights and doing active stock selection within these sectors.. The fund will participate in IPO s and capture opportunities in cash future arbitrage (index and constituents) as well. Investment style: The Scheme endeavours to generate capital appreciation through investing in equities by inter alia adopting the mode of applying for IPOs or subsequent public offering made by companies. If well priced IPOs are not available the funds collected may be invested in the index, hence generating market return from the index and the alpha from the premium on listing of IPOs. Entry load: (Plan A & Plan B): Nil Exit load: (Plan A & Plan B): All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options. (w.e.f. September 01, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend Minimum investment amount (Plan A & Plan B): `5,000 (w.e.f. July 6, 2009) Additional investment amount: `1 SIP (minimum amount) (Plan A & Plan B): `1000 (w.e.f. July 6, 2009) Inception Date (Plan A): 9 June 2006 Inception Date(Plan B): 6 July 2009 Statistical Measures: Beta (BSE 200) 0.98 R Square (BSE 200) 0.92 Beta (Nifty) 0.97 R Square (Nifty) 0.91 Standard deviation 7.79% Last 3 dividends (`/ unit): 28-Jul NAV May NAV NAV (`): Growth (A ) (B) Dividend (A ) (B) Face value (` / unit): 10 Asset allocation (equity/debt/cash/derivatives):71.27%/24.69%/4.04%/ Fund Manager: IDFC Equity Fund is benchmarked to Nifty, mapping its sectors weightages with active stock selection within the sector. The portfolio will take advantage of cash future arbitrages (portfolio constituents) in addition to the primary and secondary market valuation arbitrages. SIP Returns Period Investment Value Scheme Return Benchmark Return % 9.14% 3 year % 14.31% 2 year % 9.04% 1 year % -7.60% Name in Lac(`) % of NAV Bajaj Auto Ltd Mahindra & Mahindra Ltd Tata Motors Ltd Auto ICICI Bank Ltd HDFC Bank Ltd State Bank of India Axis Bank Ltd Banks Larsen & Toubro Ltd Construction Project I T C Ltd Consumer Non Durables Hindustan Unilever Ltd Diversified Tata Steel Ltd Jindal Steel & Power Ltd Ferrous Metals Housing Development Finance Corporation Ltd Finance Bharat Heavy Electricals Ltd Industrial Capital Goods Sterlite Industries (India) Ltd Non - Ferrous Metals Oil & Natural Gas Corporation Ltd Oil Reliance Industries Ltd Petroleum Products NTPC Ltd Tata Power Co. Ltd Power Infosys Technologies Ltd Tata Consultancy Services Ltd Wipro Ltd Software Bharti Airtel Ltd Telecom - Services NIFTY Futures Tata Motors Ltd. Futures Futures Other Debt Other Equity Vijaya Bank Certificate of Deposit CBLO Net Current Asset Grand Fund Performance under the IDFC-EF-Growth 38.69% 38.76% Minerals/mining Gas Cement Diversified Telecom - Services Non - Ferrous Metals Industrial Capital Goods Oil Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto Petroleum Products Software Banks -8.77% -9.03% -0.57% -1.28% 3 month 6 month 9.40% 8.30% 1 year 2 year -0.07% 0.41% 3 year 9.35% 14.04% ( ) & Rankings IDFC-EF Growth Past performance may or may not be sustained in future. Benchmark: S&P CNX Nifty S&P CNX Nifty Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page 57. 7

9 IDFC Tax Saver (ELSS) Fund (IDFC TS (ELSS) Fund) A 10 Year Close Ended Equity Linked Saving Scheme Nature: Equity Fund Manager: Neelotpal Sahai. w.e.f. 22 Sep, 2010 Investment objective: The investment objective is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments. There can be no assurance that the investment objective of the scheme will be realised. Investment style: The Scheme will invest in well- managed growth companies that are available at reasonable value. Companies would be identified through a systematic process of forecasting earnings based on a deep understanding of the industry growth potential and interaction with company management. Entry load: Nil Exit load: Nil (w.e.f. 4th September, 2009) Options available: Growth, Dividend Minimum investment amount: ` 500 Additional investment amount: `500 Inception Date: 15 March 2007 Statistical Measures: Beta 0.82 R Square 0.91 Standard deviation 8.84% Dividends frequency: 20-Jan NAV Mar NAV NAV (`): Growth Dividend Face value (` / unit): 10 Asset allocation (equity / debt / cash): 97.36% / / 2.64% Fund manager s comment: The focus is to invest in long term growth stocks at reasonable price. The portfolio is an diverse mix of companies across sectors and is agnostic to capitalization bias. Given the plethora of opportunities which is there in domestic economy, the fund seeks to invest in companies with strong track record of execution, high operating leverage and reasonable valuations. SIP Returns Period Investment Value Scheme Return Benchmark Return % 10.27% 3 year % 14.69% 2 year % 8.24% 1 year % % Name in Lac(`) % of NAV Exide Industries Ltd Auto Ancillaries ICICI Bank Ltd Axis Bank Ltd Bank of Baroda Punjab National Bank Banks Larsen & Toubro Ltd Construction Project Asian Paints Ltd Shree Renuka Sugars Ltd Consumer Non Durables Jindal Steel & Power Ltd Tata Steel Ltd Ferrous Metals Shriram Transport Finance Co. Ltd Finance GAIL (India) Ltd Gas Eros International Media Ltd Media & Entertainment Sterlite Industries (India) Ltd Hindalco Industries Ltd Non - Ferrous Metals Reliance Industries Ltd Hindustan Petroleum Corporation Ltd Petroleum Products Cadila Healthcare Ltd Lupin Ltd Pharmaceuticals NTPC Ltd Power Infosys Technologies Ltd Tata Consultancy Services Ltd Software Bharti Airtel Ltd Telecom - Services Vardhman Textiles Ltd Textiles - Cotton IRB Infrastructure Developers Ltd Transportation Net Current Asset Grand Fund Performance under the IDFC TS (ELSS) Growth 39.47% 44.56% % % -6.66% -5.08% 7.21% 5.48% -1.16% -0.48% 7.95% 10.03% month 6 month 1 year Past performance may or may not be sustained in future. Benchmark : BSE year 3 year IDFC-TSF-ELSS Growth BSE 200 ( ) Power Gas Auto Ancillaries Media & Entertainment Textiles - Cotton Transportation Finance Telecom - Services Construction Project Non - Ferrous Metals Pharmaceuticals Consumer Non Durables Ferrous Metals Petroleum Products Software Banks 8

10 IDFC Arbitrage Plus Fund (IDFC - APF) An Open Ended Equity Fund Nature: Equity Derivatives Fund Manager: Mr. Ritesh Kumar & Mr. Suyash Choudhary (w.e.f. 23 Dec 2010) Investment objective: The investment objective of the scheme is to generate income (absolute to low volatility returns) by taking advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies 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. Investment style: The fund aimed to generate absolute returns by investing in trades in the equity and derivative markets. The trades can consist of cash-futures arbitrage as well as relative value (such as pair trades and corporate event- based strategies) and derivatives strategies. Ideal investment horizon: 1 year or more Entry load: Nil Exit load: IDFC- APF - Plan A & Plan B : 0.50% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days such from the date of effecting such purchase/switch in. (w.e.f. August 24, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount : Plan A : `5,000, Plan B: `25,00,000 (w.e.f. July 6, 2009) Additional investment amount: `1 Inception Date: 9 June 2008 Statistical measures: Standard deviation 0.65% Last 3 dividends (` / unit): 11-May-10 A 0.02 NAV Plan A 11-May-10 B 0.02 NAV Plan B 21-June-10 A 0.01 NAV Plan A 21-June-10 B 0.01 NAV Plan B 12-Jul-10 A 0.01 NAV Plan A 12-Jul-10 B 0.01 NAV Plan B Dividend frequency: Monthly, subject to availability of distributable surplus NAV (`): Growth (A) (B) Dividend (A) (B) Face value (` / unit): 10 Asset allocation (equity / debt / cash): 70.19% /15.78% / 14.03% Fund manager s comment: Cash-future spreads remained attractive in October. The fund was able to successfully roll-over its arbitrage positions into November. The fund also had positions in corporate action and pair trades. Name in Lac(`) % of NAV Value of Futures Aurobindo Pharma Ltd Bajaj Hindustan Ltd Bharat Forge Ltd Dena Bank Fortis Healthcare Limited Hcl Technologies Ltd Hindustan Construction Co. Ltd Hindustan Petroleum Corporation Ltd Tata Teleservices (Mah) Limited Firstsource Solutions Limited IVRCL Infrastructures & Projects Ltd Indian Bank Jaiprakash Associates Ltd JSW Steel Ltd Oriental Bank of Commerce Pantaloon Retail (India) Ltd Rural Electrification Corp Ltd Reliance Industries Ltd Rolta India Ltd Shipping Corporation Of India Ltd Shree Renuka Sugars Ltd Yes Bank Ltd Equities Nirma Ltd Pair Trade CBLO Corporate Bond Net Current Asset Grand Fund Performance under the IDFC-APF-Growth 11.75% 6.38% 5.84% 4.68% 4.86% 6.05% 6.03% 7.17% 7.52% 8.26% 1.94% 1.88% 3.89% 3.47% 1.46% 1.47% 1.49% 2.18% 2.73% 2.96% 3.01% 4.04% 4.05% 4.66% 4.81% 3 month 6 month IDFC-APF Growth Past performance may or may not be sustained in future. Benchmark: Crisil Liquid Fund Index 1 year 2 year Crisil Liquid Fund Index ( ) Construction Project Cement Construction Healthcare Services Finance Transportation Telecom - Services Pharmaceuticals Ferrous Metals Retailing Industrial Products Petroleum Products Software Consumer Non Durables Banks 9

11 IDFC Small & Midcap Equity (SME) Fund (IDFC SMEF) An Open Ended Equity Scheme Nature: Equity Fund Manager: Mr. Kenneth Andrade Investment objective: The investment objective is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments. The Scheme will predominantly invest in small and midcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index. The Scheme may also invest in stock other than mid cap stocks (i.e. in stocks, which have a market capitalization of above the market capitalization range of the defined small midcap stocks) and derivatives. On defensive considerations, the Scheme may also invest in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme will predominantly invest in small and mid-cap equity and equity related instruments. Small and Mid-cap equity and equity related instruments will be the stocks included in the CNX Mid-Cap Index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Mid-Cap Index. The scheme would predominantly create a portfolio of emerging business and companies that are aspiring leaders in their respective field of operations. Some part of the portfolio would be in stocks/ companies that do not have a significant history of being listed. Ideal Investment Horizon: More than 3 years Entry Load: Nil Exit load: The scheme is converted into open ended scheme w.e.f. September 11, W.e.f. September 11, 2009 Exit Load - If redeemed within 365 days from the date of purchase(s) applying First in First out basis (including purchase made through the STP/SIP) -1.00%.No exit load /CDSC will be chargeable in case of switches made between different options of the schemes. In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund (w.e.f. October 12, 2009) Options available: Growth, Dividend Minimum investment amount: `5,000 SIP (minimum amount): `1000 Additional investment amount: `1 Inception Date: 7 March 2008 Statistical Measures: Beta 0.76 R Square 0.89 Standard deviation 6.52% Last 3 dividends (`/ unit): 29-Sep NAV Apr NAV NAV (`): Growth Dividend Face value (`/ unit): 10 Asset allocation (equity / debt / cash/derivatives):81.32% /17.08% / 1.61%/ Fund manager s comment: The fund philosophy is to capture the potential of the small and mid - cap companies in the country. The underlying companies in the portfolio are growth oriented and at a second level the fund seeks to optimize valuations in this space. With markets buoyant the portfolio shifts have been reasonably aggressive in tune with the changing valuations. The strategy is expected to remain invested in smaller companies with low business risk and extreme valuation comfort. Name in Lac(`) % of NAV Siemens Ltd Mahindra & Mahindra Financial Services Ltd Titan Industries Ltd Union Bank of India Exide Industries Ltd Vardhman Textiles Ltd Shree Renuka Sugars Ltd Castrol (India) Ltd Hexaware Technologies Ltd Nestle India Ltd Tulip Telecom Ltd Mundra Port and Special Economic Zone Ltd Rallis India Ltd VST Industries Ltd Venky's (India) Ltd Top 15 Equities Other Equity Other Debt Corporate Bond Certificate of Deposit CBLO Net Current Asset Grand SIP Returns Period Investment Value Scheme Return Benchmark Return % 22.27% 2 year % 9.65% 1 year % % Fund Performance under the IDFC SMEF-Growth % 51.70% % % % % 3 month 6 month 11.52% 1 year 2.81% IDFC-SMC-EF Growth Past performance may or may not be sustained in future. Benchmark: CNX Midcap 2 year CNX Midcap 18.83% 4.30% ( ) Textiles - Synthetic Minerals/mining Power Miscellaneous Construction Textile Products Pharmaceuticals Pesticides Media & Entertainment Transportation Auto Telecom - Services Petroleum Products Software Industrial Capital Goods Finance Auto Ancillaries Textiles - Cotton Banks Consumer Non Durables 10

12 IDFC Strategic Sector (50-50) Equity Fund (IDFC SS (50-50)-EF) An Open Ended Equity Fund Nature: Equity Fund Manager: Mr. Kenneth Andrade Investment objective: The investment objective of the scheme is to seek to generate longterm capital appreciation by investing in Equity and Equity related instruments. The investment objective of the fund shall be achieved by investing up to fifty percent of the assets of the scheme in a chosen sector (sector specific exposure) while the balance amount may be invested in companies across market capitalizations and across sectors (diversified exposure). The scheme may also invest in debt and money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. Ideal investment horizon: 3 years or more Entry Load:(Plan A & Plan B): Nil Exit Load:(Plan A & Plan B): All investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Entry / Exit Loads / CDSC will be chargeable in case of switches made between different options. (w.e.f. September 01, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option. Minimum investment amount (Plan A & Plan B): `5,000 Additional investment amount: `1 SIP (minimum amount) ( Plan A & Plan B): `1000 Inception Date (Plan A): 3 October 2008 Inception Date (Plan B): 2 April 2009 Statistical Measures: Beta 0.80 R Square 0.92 Standard deviation 7.10% Dividend frequency: NA NAV (`): Growth (A) (B) Dividend (A) (B) Face value (`/ unit): 10 Asset allocation (equity / debt / cash/derivatives): 80.20% /16.74% /3.07%/ Fund manager s comment: The Fund is built around allocating 50% of its invested portfolio in one sector. The current sector concentration is around Banking and Financials. Financials is a direct play on the Indian economy which is on a sure and stable path of recovery. Credit growth is picking up, Margins are expanding, NPA risk is controlled and valuations are commensurate to growth. SIP Returns Period Investment Value Scheme Return Benchmark Return % 6.09% 1 year % -7.60% Name in Lac(`) % of NAV SECTOR - BANKING & FINANCE TOTAL 1, ICICI Bank Ltd Bank of Baroda HDFC Bank Ltd Punjab National Bank Axis Bank Ltd Shriram Transport Finance Co. Ltd FINANCE BANK NIFTY FUTURE TOTAL DIVERSIFIED TOTAL 1, Tata Motors Ltd Mahindra & Mahindra Ltd AUTOMOBILE Larsen & Toubro Ltd CONSTRUCTION I T C Ltd Hindustan Unilever Ltd CONSUMER GOODS Hindalco Industries Ltd Sterlite Industries (India) Ltd Tata Steel Ltd Jindal Steel & Power Ltd METALS Bharat Heavy Electricals Ltd INDUSTRIAL MANUFACTURING Reliance Industries Ltd Oil & Natural Gas Corporation Ltd Energy Infosys Technologies Ltd Tata Consultancy Services Ltd INFORMATION TECHNOLOGY Bharti Airtel Ltd TELECOM Other Equity CBLO Net Current Asset Grand Fund Performance under the IDFC Strategic Sector (50-50) Equity Fund-Growth % 31.93% 3 month % -9.03% 6 month -1.71% -1.28% IDFC-SSEF Growth 12.86% performance may or may not be sustained in future Benchmark: S&P CNX Nifty 1 year 8.30% 2 year S&P CNX Nifty 14.65% 14.90% ( ) Past Construction Minerals/mining Gas Cement Diversified Telecom - Services Industrial Capital Goods Oil Non - Ferrous Metals Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto 6.91 Petroleum Products 9.25 Software Banks 11

13 IDFC Tax Advantage (ELSS) Fund (IDFC TA (ELSS) Fund) An Open Ended Equity Linked Saving Scheme with Lock in Period of 3 Years Nature: Equity Fund Manager: Mr. Neelotpal Sahai. (w.e.f. 22 Sep, 2010) Investment objective: The investment objective is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realized. Investment style: The Scheme will invest in well-managed growth companies that are available at reasonable value. Companies would be identified through a systematic process of forecasting earnings based on a deep understanding of the industry growth potential and interaction with company management. Entry load: Nil Exit load: Nil (w.e.f. September 04, 2009) Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option. Minimum investment amount: `500 Additional investment amount: `500 SIP (minimum amount): `500 Inception Date: 26 December 2008 Statistical Measures: Beta 0.72 R Square 0.87 Standard deviation 6.84% Last 3 dividends (`/ unit): 20-Jan NAV Mar-10 1 NAV NAV (`): Growth Dividend Face value (`/ unit): 10 Asset allocation (equity / debt / cash/derivatives):88.68% /10.02 %/1.30%/ Fund manager s comment: The focus is to invest in long term growth stocks at reasonable price. The portfolio is an diverse mix of companies across sectors and is agnostic to capitalization bias. Given the plethora of opportunities which is there in domestic economy, the fund seeks to invest in companies with strong track record of execution, high operating leverage and reasonable valuations. SIP Returns Period Investment Value Scheme Return Benchmark Return % 0.77% 1 year % % Name in Lac(`) % of NAV Exide Industries Ltd Auto Ancillaries ICICI Bank Ltd Bank of Baroda Punjab National Bank Axis Bank Ltd Yes Bank Ltd Banks Phoenix Mills Ltd Construction Larsen & Toubro Ltd Construction Project Asian Paints Ltd Consumer Non Durables Jindal Steel & Power Ltd Tata Steel Ltd Ferrous Metals Shriram Transport Finance Co. Ltd Finance Eros International Media Ltd Media & Entertainment Sterlite Industries (India) Ltd Hindalco Industries Ltd Non - Ferrous Metals Shree Renuka Sugars Ltd Other Equity Reliance Industries Ltd Hindustan Petroleum Corporation Ltd Petroleum Products Cadila Healthcare Ltd Lupin Ltd Aurobindo Pharma Ltd Pharmaceuticals NTPC Ltd Power Tata Consultancy Services Ltd Infosys Technologies Ltd eclerx Services Ltd Software Bharti Airtel Ltd Telecom - Services K.P.R. Mill Ltd Arvind Ltd Textile Products Vardhman Textiles Ltd Textiles - Cotton IRB Infrastructure Developers Ltd Transportation CBLO Net Current Asset Grand Fund Performance under the IDFC TA (ELSS) -Growth % 36.22% % -4.54% % -5.08% 9.75% 5.48% month 6 month 1 year IDFC-TAF Growth BSE 200 Past performance may or may not be sustained in future Benchmark: BSE 200 ( ) Power Construction Auto Ancillaries Transportation Media & Entertainment Finance Telecom - Services Construction Project Consumer Non Durables Textiles - Cotton Textile Products Non - Ferrous Metals Petroleum Products Ferrous Metals Pharmaceuticals Software Banks 12

14 IDFC India GDP Growth Fund (IDFC - IGGF) An Open Ended Equity Scheme Nature: Equity Fund Manager: Mr. Neelotpal Sahai. (w.e.f 23 Dec 2010) Investment objective: The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity and Equity related instruments. The scheme aims to capture the growth in India's Gross Domestic Product (GDP). The scheme would endeavour to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in debt and money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. Investment style: The Scheme will invest in well- managed growth companies that are available at reasonable value. Companies would be identified through a systematic process of forecasting earnings based on a deep understanding of the industry growth potential and interaction with company management. Entry Load: Nil Exit load: All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options. (w.e.f. September 01, 2009) In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund. (w.e.f. October 12, 2009.) Options available: Growth, Dividend. Reinvestment facility is also available under the dividend option. Minimum investment amount: `5000 Additional investment amount: `1 SIP (minimum amount): `2000 Inception Date: 11 March 2009 Statistical Measures: Beta 0.52 R Square 0.68 Standard deviation 5.53% Last 3 dividends (`/unit): Date 31-May NAV NAV (`): Growth Dividend Face value (`/ unit): 10 Asset allocation (equity / debt / cash/derivatives):95.91% / % /4.09%/ % Fund manager s comment: The fund is benchmarked to the components of India s GDP in the proportion of the contribution of each component to GDP growth. The fund is invested mainly in the services sector, followed by industrials and then agriculture. Around 60% of the fund s portfolio is currently invested in midcap stocks. SIP Returns Period Investment Value Scheme Return Benchmark Return % -3.51% 1 year % % Data as of 28 February2011 Name in Lac(`) % of NAV Exide Industries Ltd Auto Ancillaries ICICI Bank Ltd Bank of Baroda Punjab National Bank Axis Bank Ltd Banks Phoenix Mills Ltd Construction Larsen & Toubro Ltd Construction Project Asian Paints Ltd Shree Renuka Sugars Ltd McLeod Russel India Ltd Consumer Non Durables Jindal Steel & Power Ltd Tata Steel Ltd Ferrous Metals Shriram Transport Finance Co. Ltd Finance GAIL (India) Ltd Gas Eros International Media Ltd Media & Entertainment Sterlite Industries (India) Ltd Hindalco Industries Ltd Non - Ferrous Metals Rallis India Ltd Pesticides Reliance Industries Ltd Hindustan Petroleum Corporation Ltd Petroleum Products Cadila Healthcare Ltd Lupin Ltd Aurobindo Pharma Ltd Pharmaceuticals NTPC Ltd Power Infosys Technologies Ltd Tata Consultancy Services Ltd eclerx Services Ltd Software Bharti Airtel Ltd Telecom - Services Arvind Ltd Textile Products IRB Infrastructure Developers Ltd Transportation Other Equity Net Current Asset Grand Fund Performance under the IDFC-GDP-Growth % % % -8.11% -6.03% 8.91% 5.07% 24.99% month 6 month 1 year IDFC-GDP Growth BSE 500 Past performance may or may not be sustained in future. Benchmark: BSE 500 ( ) Gas Power Auto Ancillaries Textile Products Media & Entertainment Construction Transportation Telecom - Services Pesticides Construction Project Non - Ferrous Metals Finance Pharmaceuticals Ferrous Metals Consumer Non Durables Petroleum Products Software Banks 13

15 IDFC Super Saver Income Fund Investment Plan (IDFC SSIF-IP) An Open Ended Income Fund Nature: Debt Fund Manager: Mr. Suyash Choudhary (w.e.f. 15 Oct 2010) Investment objective: Seek to generate stable returns by creating a portfolio that is invested in good quality fixed income and money market securities. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and aims to generate stable long-term returns through mix of accrual income and capital appreciation. Ideal investment horizon: 1 year or more Entry load: Nil Exit load: IDFC-SSIF-IP - Plan A, Plan B, Plan C & Plan F : 1.00% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days such from the date of effecting such purchase/switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. Options available: Growth, Dividend & Dividend Sweep Minimum investment amount: `5,000 and in multiples of ` 1 in Plan A (Regular Plan), ` 25 Lakh and in multiples of ` 1 in Plan B (Institutional Plan), ` 5 Crores and in multiples of ` 1 in Plan C, ` 5,000 and in multiples of ` 1 in Plan D. Additional investment amount: `1 SIP (minimum amount): in Plan A `1,000 Inception date: 14 July 2000 Statistical Measures: Standard deviation 1.56% Modified duration 1.39 Years Dividend frequency: Quarterly, Half Yearly, Annually Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC-SSIF-IP-Plan A 30-Jun Quarterly Mar Quarterly Jun Quarterly Sep Half Yearly Sep Half Yearly Mar Half Yearly Mar Annual IDFC-SSIF-IP-Plan B 30-Jun Quarterly Dec Quarterly IDFC-SSIF-IP-Plan C 30-Jun Quarterly Dec Quarterly NAV (`): Plan A Growth Plan A Dividend Annual Plan A Dividend Quarterly Plan A Dividend Half Yearly Plan B Growth Plan B Dividend Plan C Growth Plan C Dividend Plan F Growth Face value (` / unit): 10 Fund manager's comment: The fund is predominantly invested in bank CDs given the attractive carry provided by these instruments currently. Approximately 20% of the portfolio is in bonds maturing between 4 and 10 years.. The fund will actively monitor the dynamic interest rate and credit spread environment to optimize performance. Benchmark: Crisil Composite Bond Fund Index (CCBFI) Name % of NAV CBLO 6.96 Indian Bank F Punjab National Bank PR State Bank of Bikaner & Jaipur P State Bank Of Patiala P State Bank Of Patiala A Canara Bank PR Corporation Bank P Bank Of India P State Bank Of Mysore P Canara Bank P Bank Of Baroda A State Bank Of Travancore P Certificate of Deposit IDFC CF-Plan C-Growth 0.00 Mutual Fund Units: Debt 0.00 Reliance Utilities & Power Pvt.Ltd. AAA HDFC Bank Ltd. AAA 5.23 Power Grid Corporation Ltd. AAA 1.59 Corporate Bond Net Current Asset 0.27 Grand Certificate of Deposit: 72.18% 2 Corporate Bond: 20.59% 3 CBLO: 6.96% 4 Net Current Asset: 0.27% 1 5 Mutual Fund Units: Debt: 0.00% Fund Performance under the IDFC-SSIF-IP-Growth 7.29% 7.49% 8.15% 4.59% 4.99% 4.61% 5.64% 5.74% 3.23% 1 year 2 year 3 year 5 year (14/07/2000) IDFC-SSIF-IP Growth CRISIL Composite Bond Fund Index Past performance may or may not be sustained in future 14

16 IDFC Dynamic Bond Fund (IDFC DBF) An Open Ended Income Fund Nature: Debt Fund manager: Mr. Suyash Choudhary (w.e.f. 15 Oct 2010) Investment objective: Seek to generate optimal returns with high liquidity by active management of the portfolio; by investing in high quality money market & debt instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and seeks to generate returns by actively managing the interest rate volatility. Ideal investment horizon: 1 year or more Entry load: Nil Exit load: IDFC-DBF - Plan A & Plan B: Nil. (w.e.f. August 24, 2009) Options available: Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount: `5,000 and in multiples of `1 in Plan A (Regular Plan), `25 Lakh and in multiples of `1 in plan B (Institutional Plan). (w.e.f. July 6, 2009) Additional investment amount: `1 SIP (minimum amount): in Plan A `1,000 Inception date: 25 June 2002 Statistical Measures: Standard deviation 1.61% Modified duration 0.81 Years Dividend frequency: Quarterly & Annually Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC- DBF - Plan A 31-Dec Quarterly Mar Quarterly Jun Quarterly Mar Annual IDFC- DBF - Plan B 06-Jul Annual NAV (`): Plan A Growth Plan A Dividend Annual Plan A Dividend Quarterly Plan B Growth Plan B Dividend Name % of NAV CBLO 0.53 Bank Of India P Indian Bank F Punjab National Bank PR Bank Of Baroda A State Bank Of Mysore P State Bank of Bikaner & Jaipur P State Bank Of Patiala P State Bank Of Patiala A Canara Bank PR Certificate of Deposit Net Current Asset Grand Face value (`/ unit): 10 Fund manager's comment: The fund is predominantly invested in bank CDs given the attractive carry available on these instruments. Government security investments will be considered on an opportunistic basis given the underlying expected trend of rising yields. The fund will move dynamically between cash, government bonds, money market and corporate bonds to optimize performance. Benchmark: Crisil Composite Bond Fund Index (CCBFI) Certificate of Deposit: % 2 CBLO: 0.53% 3 Net Current Asset: -1.28% Fund Performance under the IDFC-DBF-Growth 7.74% 8.14% 7.52% & Rankings 4.21% 4.99% 4.61% 5.64% 5.74% 5.80% 3.03% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page year 2 year 3 year 5 year ( ) IDFC-DBF Growth CRISIL Composite Bond Fund Index Past performance may or may not be sustained in future. 15

17 IDFC Super Saver Income Fund Medium Term (IDFC SSIF-MT) An Open Ended Income Fund Nature: Debt Fund manager: Mr. Anupam Joshi Investment objective: Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and aims to generate stable long-term returns through mix of accrual income and capital appreciation. Ideal investment horizon: 6 months or more Entry load: Nil Exit load: IDFC-SSIF-MT - Plan A, Plan B & Plan F : 0.50% of NAV shall be the exit load payable by investors who purchase / switch in and seek to redeem / switch out such units within 182 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. Options available: Growth, Dividend, Dividend Sweep& Dividend Payout & Reinvestment option. Minimum investment amount: `5,000 and in multiples of `1 in Plan A (Regular Plan), `25 Lakh and in multiples of `1 in Plan B (Institutional Plan), `5,000 and in multiples of `1 in Plan F Additional investment amount: `1 SIP (minimum amount): in Plan A `1,000 Inception date: 8 July 2003 Statistical Measures: Standard deviation 0.97% Modified duration 1.32 Years Dividend frequency: Bi-monthly, Monthly, Fortnightly & Daily Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC- SSIF-MT Plan A 28 Feb Daily Feb Daily Feb Daily Jan Bimonthly Nov Bimonthly Sep Bimonthly Feb Fortnightly Feb Fortnightly Jan Fortnightly Feb Monthly Jan Monthly Dec Monthly Dec Quarterly Sep Quarterly IDFC- SSIF-MT Plan B 28 Feb Monthly Jan Monthly Dec Monthly Dec Annual NAV (`): Plan A Growth Plan A Dividend Bimonthly Plan A Dividend Fortnightly Plan A Dividend Monthly Plan A Dividend Quarterly Plan A Dividend Daily Plan B Growth Plan B Dividend Plan B Dividend Monthly 10 Plan F Growth Plan F Dividend Face value (` / unit): 10 Fund manager s comment: The fund is invested in a mix of medium tenor corporate bonds and certificate of deposits. Exposure to government securities has been reduced to less than 5% of the portfolio. Benchmark: CRISIL Short-Term Bond Fund Index (CSTBFI) & Rankings Name % of NAV CBLO 4.05 Punjab & Sindh Bank Ltd A Central Bank Of India PR Bank Of India P Punjab National Bank PR Union Bank of India P Certificate of Deposit % GOI (MD 14/06/2015) SOV 2.89 Govt Bond 2.89 Reliance Utilities & Power Pvt.Ltd. AAA L&T Finance Ltd AA Shriram Transport Finance Co Ltd. AA 7.50 State Bank Of India AAA 3.05 Sundaram BNP Paribas Home Fina Ltd. AA Corporate Bond Net Current Asset 5.71 Grand Fund Performance under the IDFC-SSIF-MT-Growth 6.05% 4.87% 8.36% % % 1 Certificate of Deposit: 45.94% 2 Corporate Bond: 41.40% 3 Net Current Asset: 5.71% 4 CBLO: 4.05% 5 Govt Bond: 2.89% 8.28% 6.85% 6.90% 6.74% 5.90% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page year 2 year 3 year 5 year ( ) IDFC-SSIF-MT Growth CRISIL Short Term Bond Fund Index Past performance may or may not be sustained in futures 16

18 IDFC Super Saver Income Fund Short Term (IDFC SSIF-ST) An Open Ended Income Fund Nature: Debt Fund manager: Mr. Anupam Joshi Investment objective: Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and aims to generate stable long-term returns through mix of accrual income and capital appreciation. Ideal investment horizon: 6 months or more Entry load: Nil Exit load: Exit Load 0.50% of NAV on investors who purchase / switch in and seek to redeem / switch out such units within 6 months from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f March 01, 2011) Options available: Growth, Dividend & Dividend Sweep Minimum investment amount: ` 5,000 and in multiples of ` 1 in Plan A (Regular Plan), `25 Lakh and in multiples of ` 1 in Plan B (Institutional Plan), ` 5 Crores and in multiples ` 1 in Plan C, `5000 and in multiples of ` 1 in Plan D (MF Plan), ` 5000 and in multiples of ` 1 in Plan F. Additional investment amount: `1 SIP (minimum amount): Plan A ` 1,000 Inception date:14 December 2000 Statistical Measures: Standard deviation 0.72% Modified duration 1.11 Years Dividend frequency: Monthly, Fortnightly, Quarterly Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC- SSIF-ST Plan A 28 Jan Fortnightly Jan Fortnightly Dec Fortnightly Feb Monthly Jan Monthly Dec Monthly IDFC- SSIF-ST Plan B 02 Jul Fortnightly Jun Fortnightly Jun Fortnightly Sep Monthly Jun Monthly IDFC-SSIF-ST Plan C 18 Jun Fortnightly Jun Fortnightly May Fortnightly Apr Monthly IDFC-SSIF-ST Plan D 03 Dec Fortnightly Nov Fortnightly Nov Fortnightly Nov Monthly Sep Monthly Aug Monthly NAV (`): Plan A Growth Plan A Dividend Fortnightly Plan A Dividend Monthly Plan B Growth Plan B Dividend Fortnightly Plan B Dividend Monthly Plan C Growth Plan C Dividend Fortnightly Plan C Dividend Monthly Plan D Growth Plan D Dividend Fortnightly Plan D Dividend Monthly Plan F Growth Face value (` / unit): 10 Fund manager s comment: The fund is invested in a mix of certificate of deposits and short duration corporate bonds to optimize performance. Benchmark: CRISIL Short-Term Bond Fund Index (CSTBFI) Name % of NAV CBLO 3.45 Bank Of India P Bank Of Baroda A Punjab National Bank PR State Bank Of Travancore P Certificate of Deposit Aditya Birla Nuvo Ltd. LAA L&T Finance Ltd AA Corporate Bond Net Current Asset 0.42 Grand Fund Performance under the IDFC-SSIF-ST-Growth 3.98% 4.87% % 5.11% Certificate of Deposit: 68.44% 2 Corporate Bond: 27.69% 3 CBLO: 3.45% 7.21% 7.49% 6.85% 6.90% 4 Net Current Asset: 0.42% 6.95% 1 year 2 year 3 year 5 year (14/12/2000) IDFC-SSIF-ST Growth CRISIL Short Term Bond Fund Index Past performance may or may not be sustained in future. 17

19 IDFC Cash Fund (IDFC CF) An Open Ended Liquid Fund Nature: Liquid Fund Fund manager: Mr. Anupam Joshi Investment objective: IDFC-CF is an open-ended liquid fund with an objective to generate optimal returns with high liquidity by investing in high quality money market and debt instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme aims to invest in a highly quality money market instruments with high liquidity and seeks to generate accrual income with low volatility. Ideal investment horizon: 1 day or more Entry load: Nil Exit load: Nil Options available: Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount: ` 5,000 and in multiples of ` 1 in Plan A (Regular Plan), ` 1 Crore and in multiples of ` 1 in Plan B (Institutional Plan), ` 5 Crores and in multiples ` 1 in Plan C (Super Institutional Plan). Additional investment amount: `1 SIP (minimum amount): NA Inception date: 2 July 2001 Statistical Measures: Standard deviation 0.11% Modified duration Days Dividend frequency: Daily, Weekly with compulsory re-investment, Periodic (in Plan B only) and Monthly (in Plan C only) Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC-CF Plan A 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly IDFC-CF Plan B 28 Feb Daily Feb Daily Feb Daily IDFC-CF Plan C 28 Feb Daily Feb Daily Feb Daily Oct Weekly Sep Weekly Sep Weekly NAV (`): Plan A Growth Plan A Dividend Daily Plan A Dividend Weekly Plan B Growth (IP) Plan B Dividend (IP)Daily Plan C Growth Plan C Dividend Daily Face value (` / unit): 10 Fund manager s comment: The scheme is invested in short maturity liquid instruments in line with its objectives Benchmark: Crisil Liquid Fund Index (CLFI) Name % of NAV CBLO 6.29 Indusind Bank Ltd 5.09 Bills Rediscounting 5.09 State Bank Of India P Vijaya Bank PR Oriental Bank of Commerce P Central Bank Of India PR Allahabad Bank P Yes Bank Ltd. A Indusind Bank Ltd P Indian Overseas Bank A Axis Bank Limited P Punjab National Bank P Punjab National Bank PR Bank Of India P Andhra Bank Ltd PR Canara Bank P Syndicate Bank Ltd. PR Axis Bank Limited A Union Bank of India P IDBI Bank Ltd A ICICI Bank Ltd. A Jammu & Kashmir Bank Limited P Standard Chartered Bank P Certificate of Deposit National Bank For Agri. & Rural Dev P Bajaj Finance Ltd. P Aditya Birla Finance Ltd A Securities Trading Corp Ind Ltd P Commercial Paper 3.97 Net Current Asset Grand Certificate of Deposit: 69.61% 2 CBLO: 6.29% 3 Bills Rediscounting: 5.09% 4 Commercial Paper: 3.97% 1 5 Net Current Asset: 15.03% Fund Performance under the IDFC-CF-Growth & Rankings 8.06% 8.02% 7.94% 7.76% 7.64% 7.54% 5.67% 5.84% 4.93% 4.86% 6.46% 6.22% 5.92% 6.02% 5.83% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page 57. (Annualised) 7 days (Annualised) 15 days (Annualised) 30 days 1 year IDFC-CF Growth Past performance may or may not be sustained in future. 2 year 3 year 5 year Crisil Liquid Fund Index ( ) 18

20 IDFC Ultra Short Term Fund (IDFC USTF) An Open Ended Income Fund Nature : Income Fund Fund manager : Anupam Joshi Investment objective : To offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. There can be no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme aims to invest predominantly in the overnight money market so as to represent the returns of that part of the money market. Ideal investment horizon : 1 Month or more Entry load : Nil Exit load : Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed / switched out within 45 days from the date of allotment. (w.e.f February 28, 2011) Options available : Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount : Minimum of ` 5,000 and in multiples of ` 1. Additional investment amount :`1 SIP (minimum amount) :` 1,000 Inception date : 17 January 2006 Statistical Measures : Standard deviation 0.13% Modified duration Days Dividend frequency : Daily with compulsory re-investment, Weekly with compulsory reinvestment and Monthly. Last 3 dividends (` / unit) : Date NAV Freq. Other I & H 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly Name % of NAV CBLO 0.40 Axis Bank Limited P State Bank Of Mysore P UCO Bank P Punjab & Sindh Bank Ltd A Central Bank Of India PR State Bank Of Travancore A IDBI Bank Ltd A Indusind Bank Ltd A Oriental Bank of Commerce P Certificate of Deposit Net Current Asset Grand NAV (`): Plan A Growth Plan A Dividend Daily Plan A Dividend Monthly Plan A Dividend Weekly Face Value (` / unit): 10 Fund manager's comment The scheme is invested in short maturity liquid instruments in line with its objectives. Benchmark :Crisil Liquid Fund Index (CLFI) Certificate of Deposit: % 2 CBLO: 0.40% 1 3 Net Current Asset: % Fund performance under the IDFC-USTF-Growth & Rankings 8.31% 8.50% 8.06% 8.02% 7.85% 7.94% 6.34% 5.84% 5.33% 4.86% 6.22% 6.43% 5.66% 5.87% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page 57. (Annualised) 7 days (Annualised) 15 days (Annualised) 30 days 1 year IDFC-USTF Growth Past performance may or may not be sustained in future. 2 year 3 year Crisil Liquid Fund Index ( ) 19

21 IDFC Savings Advantage Fund (IDFC SAF) An Open Ended Income Fund (w.e.f. March 03, 2010) Nature: Open ended Income scheme Fund manager: Mr.Anupam Joshi Investment objective: To offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. There can be no assurance that the investment objective of the scheme will be 20ealized. Investment Style: The Scheme aims to invest in a highly quality money market instruments with high liquidity and seeks to generate accrual Income with low volatility. Ideal investment horizon: 1 Month or more Entry load: Nil Exit load:plan A,F& D: Exit Load for all investment including SIP/Micro SIP/STP shall be 0.25% of the applicable NAV if redeemed / switched out within 31 days from the date of allotment. (w.e.f March 03, 2011) Options available: Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount: Minimum of `5,000 and in multiples of `1 in Plan A, `10,000 and in multiples of `1 in Plan F, `500 & in multiples of `1 in Plan D. Additional investment amount: `1 SIP (minimum amount): `1,000 (Plan A) Inception date: 27 March 2006 Statistical Measures: Standard deviation 0.13% Modified duration Days Dividend frequency: Daily & Weekly (with Compulsory re-investment) Monthly Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC-LF Plan A 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly IDFC-LF Plan D 28 Feb Daily Feb Daily Feb Daily Name % of NAV CBLO Indian Overseas Bank A Andhra Bank Ltd PR Syndicate Bank Ltd. PR Federal Bank Ltd. P Yes Bank Ltd. A Union Bank of India P Punjab National Bank PR Karnataka Bank Ltd A IDBI Bank Ltd A ING Vysya Bank Ltd. P Certificate of Deposit Morgan Stanley (I) Capital Pvt Ltd F Aditya Birla Finance Ltd A Mahindra & Mahindra Fin Ser Ltd. P Securities Trading Corp Ind Ltd P Commercial Paper Net Current Asset Grand NAV (`): Plan A Growth Plan A Dividend Daily Plan A Dividend Monthly Plan A Dividend Weekly Plan D Growth Plan D Dividend Daily Plan F Growth Plan F Dividend Annual Plan D Weekly Face value (` / unit): 10 Fund manager's comment: The scheme is invested in short maturity liquid instruments in line with its objectives Benchmark: Crisil Liquid Fund Index (CLFI) Certificate of Deposit: 62.67% 2 Commercial Paper: 27.20% 3 CBLO: 10.23% 1 4 Net Current Asset: -0.10% Fund Performance under the IDFC-SAF Growth 10.32% 9.31% 9.05% & Rankings 8.06% 8.02% 7.94% 6.57% 5.84% 5.39% 4.86% 6.01% 6.62% 6.22% 6.47% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page No 27. (Annualised) 7 days (Annualised) 15 days (Annualised) 30 days 1 year IDFC-SAF Growth Past performance may or may not be sustained in future. 2 year 3 year Crisil Liquid Fund Index ( ) 20

22 IDFC Money Manager Fund Treasury Plan (IDFC MMF-TP) An Open Ended Income Fund Nature: Debt Fund Fund manager: Mr. Anupam Joshi Investment objective: Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme aims to invest only in highly rated money market instruments including floating rate instruments with short term benchmarks. The Scheme seeks to generate returns predominantly through accrual income. Ideal investment horizon: 1 day or more Entry load: Nil Exit load: IDFC-MMF TP: Plan A, Plan B, Plan C, Plan D & Plan F : Nil. Options available: Growth, Dividend & Dividend Sweep Minimum investment amount: `5,000 and in multiples of `1 in Plan A (Regular Plan), `1 Crore and in multiples of `1 in Plan B (Institutional Plan), `5 Crores and in multiples `1 in Plan C (Super Institutional Plan), `25,000 and in multiples `1 in Plan D, `5,000 and in multiples of `1 in Plan F. Additional investment amount: `1 SIP (minimum amount): `1,000 (Plan A) Inception date: 18 Feb 2003 Statistical Measures: Standard deviation 0.10% Modified duration Days Dividend frequency: Monthly & Daily / Weekly with compulsory reinvestment Last 3 dividends (`/ unit) : Date NAV Freq. Other I & H IDFC- MMF -TP Plan A 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly IDFC-MMF -TP Plan B 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly IDFC-MMF -TP Plan C 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly IDFC-MMF -TP Plan D 28 Feb Daily Feb Daily Feb Daily NAV (`): Plan A Growth Plan A Dividend Daily Plan A Dividend Weekly Plan A Dividend Monthly Plan B Growth Plan B Dividend Daily Plan B Dividend Weekly Plan B Dividend Monthly Plan C Growth Plan C Dividend Daily Plan C Dividend Weekly Plan C Dividend Monthly 10 Plan D Growth Plan D Dividend Daily Plan F Growth Plan F Dividend Face value (` / unit): 10 Fund manager s comment: The scheme is invested in short maturity liquid instruments in line with its objectives. Benchmark: NSE MIBOR INDEX Name % of NAV CBLO 5.73 Indusind Bank Ltd 4.95 Bills Rediscounting 4.95 Central Bank Of India PR Canara Bank P UCO Bank P Indian Overseas Bank A Bank of Maharashtra. P Punjab National Bank P State Bank of Hyderabad P Axis Bank Limited PR Indusind Bank Ltd P Dhanlaxmi Bank Ltd P Allahabad Bank P ING Vysya Bank Ltd. P Indian Bank F Axis Bank Limited P Karnataka Bank Ltd A Syndicate Bank Ltd. P Corporation Bank P ICICI Bank Ltd. A United Bank Of India Ltd. A Indian Overseas Bank P Vijaya Bank PR Bank Of India P Dena Bank P State Bank of Bikaner & Jaipur P United Bank Of India Ltd. P Federal Bank Ltd. P Punjab & Sindh Bank Ltd A Yes Bank Ltd. A State Bank Of Mysore P State Bank Of Mysore A IDBI Bank Ltd A Andhra Bank Ltd PR Indusind Bank Ltd A Certificate of Deposit ECL Finance Limited A Commercial Paper 0.99 ICICI Bank Ltd. LAAA 0.30 Floating Rate Note Days Tbill (MD 29/04/2011) SOV 0.29 Treasury Bills 0.29 Tata Capital Limited AA Aditya Birla Nuvo Ltd. LAA Reliance Utilities & Power Pvt.Ltd. AAA 0.03 Tata Sons Ltd. AAA 0.02 Tata Motors Ltd. AAA 0.01 Power Finance Corporation Limited AAA 0.00 Corporate Bond 1.03 Net Current Asset Grand Fund Performance under the IDFC-MMF-TP-Growth 7.92% 7.82% 7.78% (Annualised) 7 days & Rankings % 6.84% 6.80% (Annualised) 15 days (Annualised) 30 days 5.77% 5.75% 1 year IDFC-MMF-TP Growth 5.25% 4.61% 2 year Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page Certificate of Deposit: 71.98% 2 CBLO: 5.73% 3 Bills Rediscounting: 4.95% 4 Corporate Bond: 1.03% 5 Commercial Paper: 0.99% 6 Floating Rate Note: 0.30% 7 Treasury Bills: 0.29% 8 Net Current Asset: 14.72% 6.12% 6.13% 5.66% 3 year 6.08% 5 year NSE MIBOR Index 5.71% 5.73% ( ) 21

23 IDFC Money Manager Fund Investment Plan (IDFC MMF-IP) An Open Ended Income Fund Nature: Debt Fund Manager: Mr. Anupam Joshi Investment objective: Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme aims to invest in highly rated money market instruments including floating rate instruments with short term benchmarks. The Scheme seeks to generate returns predominantly through accrual income. Ideal investment horizon: 1 Month or more Entry Load: Nil Exit Load: Plan A, Plan B & Plan F: Exit Load for all investment including SIP/Micro SIP/STP shall be 0.25% of the applicable NAV if redeemed / switched out within One Month from the date of allotment. (w.e.f 1 March 2011 ) Options available: Growth, Dividend & Dividend Sweep Minimum investment amount: `5000 and in multiples of `1 in plan A (Regular Plan), `1 Crore and in multiplies of `1 in plan B (institutional Plan), `5000 and in multiples of `1 in plan F. Additional investment amount: `1 SIP (minimum amount): `1000 (Plan A) Inception Date: 9 August 2004 Statistical Measures: Standard deviation 0.12% Modified duration Days Dividend frequency: Daily, weekly (with reinvest facility in both plan A & plan B), Monthly, Quarterly & Annual. Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC-MMF-IP Plan A 28 Feb Daily Feb Daily Feb Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly Dec Quarterly Sep Quarterly IDFC-MMF-IP Plan B 07 Dec Daily Dec Daily Dec Daily Feb Weekly Feb Weekly Feb Weekly Feb Monthly Jan Monthly Dec Monthly NAV (`): Plan A Growth Plan A Dividend Annual Plan A Dividend Daily 10 Plan A Dividend Monthly Plan A Dividend Quarterly Plan A Dividend Weekly Plan B Growth Plan B Dividend Daily Plan B Dividend Monthly Plan B Dividend Weekly Plan F Growth Face value (` / unit): 10 Fund Manager s comment: The scheme is invested in CDs upto 1 year maturity in order to optimize portfolio yields. Benchmark: NSE MIBOR INDEX & Rankings Name % of NAV CBLO 3.31 Bank Of India P State Bank Of Patiala P Andhra Bank Ltd PR State Bank Of Travancore P Indian Overseas Bank A Indian Bank F State Bank of Bikaner & Jaipur P Certificate of Deposit Net Current Asset 3.70 Grand Fund Performance Under the IDFC-MMF-IP Growth % 6.84% 6.80% 4.92% 4.78% % 5.17% 5.29% 5.21% 4.61% 1 Certificate of Deposit: 92.99% 2 Net Current Asset: 3.70% 3 CBLO: 3.31% 6.08% 5.66% 6.40% 6.08% 6.11% 5.93% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page 57. (Annualised) 7 days (Annualised) 15 days (Annualised) 30 days 1 year IDFC-MMF-IP Growth Past performance may or may not be sustained in future. 2 year 3 year 5 year NSE MIBOR Index ( ) 22

24 IDFC Government Securities Fund Investment Plan (IDFC GSF-IP) An Open Ended Dedicated Gilt Fund Nature : Debt Fund Manager : Mr. Suyash Choudhary (w.e.f. 15 Oct 2010) Investment objective : IDFC GSF -IP is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized. Investment Style : The Scheme proposes to invest only in government securities with the aim of generating stable medium-term returns. Ideal investment horizon : 1 year or more Entry Load : Nil Exit Load : IDFC-GSF - IP : Plan A & Plan B : 1.00% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days from the date of effecting such purchase/switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009) Options available : Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount :` 5000 and in multiples of ` 1 in Plan A (Regular Plan), ` 25 Lakh and in multiples of ` 1 in Plan B (Institutional Plan). (w.e.f. July 6, 2009) Additional investment amount :` 1 SIP (minimum amount) :` 1000 (Plan A) Inception Date : 9 March 2002 Statistical Measures : Standard deviation 1.93% Modified duration 0.68 Years Dividend frequency : Quarterly / Half yearly / Yearly. Last 3 Dividends (` / unit) : Date NAV Freq. Other I & H IDFC-GSF-IP Plan A 29-Sep Half Yearly Sep Half Yearly Jun Quarterly Mar Quarterly Dec Quarterly Mar Half Yearly Mar Annual Mar Annual IDFC-GSF-IP Plan B 30-Jun NAV (`) : Plan A Growth Plan A Dividend Annual Plan A Dividend Half Yearly Plan A Dividend Quarterly Plan B Growth Plan B Dividend Name % of NAV CBLO % GOI (MD 14/06/2015) SOV Govt Bond Days Tbill (MD 29/04/2011) SOV Treasury Bills Net Current Asset Grand Face Value (` / unit) : 10 Benchmark : ISEC Composite INDEX Fund manager's comment The funds are positioned in the segments of the yield curve where returns are expected to be optimum Treasury Bills: 50.20% 2 CBLO : % 3 Govt Bond: 16.64% 4 Net Current Asset: -1.16% 1 Fund performance IDFC-GSF-IP Growth 6.22% 6.69% 7.13% 7.36% 7.09% 6.88% 5.15% 3.91% 2.16% 1.66% 3.14% 3.23% 2.74% 3 month 6 month 1 year IDFC-GSF-IP Growth 2 year 3 year 5 year ISEC Composite Index ( ) Past performance may or may not be sustained in future. 23

25 IDFC Government Securities Fund Provident Fund Plan (IDFC GSF-PF) An Open Ended Dedicated Gilt Fund Nature : Debt Fund Manager : Mr. Suyash Choudhary (w.e.f. 15 Oct 2010) Investment objective : Seek to generate optimal returns with high liquidity by investing in Government Securities. However there is no assurance that the investment objective of the scheme will be realized. Investment Style : The Scheme propose to invest only in government securities with the aim of generating stable medium-term returns. Ideal investment horizon : 1 year or more Entry Load : Nil Exit Load : IDFC- GSF- PF Plan A & Plan B : Exit load of 1.00% of NAV shall be applicable in case of investors who redeem / switch out such investments within 365 days such from the date of effecting such purchase / switch. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. Options available : Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount :` 5000 and in multiples of ` 1 in plan A (Regular Plan), ` 25,00,000 and in multiplies of `1 in plan B (institutional Plan). (w.e.f. July 6, 2009) Additional investment amount :` 1 SIP (minimum amount) :` 1000(Plan A) Inception Date : 29 March 2004 Statistical Measures : Standard deviation 1.98% Modified duration 0.69 Years Dividend frequency : Quarterly / Yearly Last 3 Dividends (` / unit) : Date NAV Freq. Other I & H IDFC-GSF-PF Plan A 30-Jun Quarterly Jun Quarterly Mar Annual IDFC-GSF-PF Plan B 31 Dec Quarterly Jun Quarterly Dec Quarterly NAV (`) : Plan A Growth Plan A Dividend Annual Plan A Dividend Quarterly Plan B Growth Plan B Dividend Quarterly Face Value (` / unit) : 10 Fund Manager's comment : The funds are positioned in the segments of the yield curve where returns are expected to be optimum. Benchmark : ISEC Composite Index Name % of NAV CBLO % GOI (MD 14/06/2015) SOV Govt Bond Days Tbill (MD 29/04/2011) SOV Treasury Bills Net Current Asset Grand Treasury Bills: 52.34% 4 2 CBLO : 31.39% 3 Govt Bond: 17.04% 4 Net Current Asset: -0.77% 1 & Rankings Fund performance IDFC-GSF-PF Growth 6.22% 7.96% 8.07% 7.13% 7.36% 6.39% 5.90% 5.05% 2.10% 1.66% 3.02% 3.23% 3.96% 3.91% Past performance is no guarantee of future results. For Methodology of Ranking Please refer Page month 6 month 1 year 2 year IDFC-GSF-PF Growth Past performance may or may not be sustained in future. 3 year 5 year ISEC Composite Index ( ) 24

26 IDFC Government Securities Fund Short Term Plan (IDFC GSF-ST) An Open Ended Dedicated Gilt Fund Nature : Debt Fund Manager : Mr. Suyash Choudhary (w.e.f. 15 Oct 2010) Investment objective : IDFC GSF-ST is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized. Investment Style : The Scheme proposes to invest only in government securities with the aim of generating stable medium-term returns. Ideal investment horizon :30 days or more Entry Load : Nil Exit Load : IDFC-GSF - ST Plan A & Plan B: 0.25% of NAV on investors who purchase / switch in and seek to redeem / switch out such units within 30 days from the date of effecting such purchase / switch in. Investors opting for PEP/Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009) Options available : Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount : ` 5000 and in multiples of ` 1 in Plan A (Regular Plan), ` 25 Lakh and in multiples of ` 1 in Plan B (Institutional Plan) (w.e.f. July 6, 2009) Additional investment amount :` 1 SIP (minimum amount) :` 1000 (Plan A) Inception Date : 9 March 2002 Statistical Measures : Standard deviation 0.52% Dividend frequency : Quarterly /Monthly Last 3 Dividends (` / unit) : Date NAV Freq. Other I & H IDFC-GSF-ST Plan A 07 Aug Weekly Jul Weekly Jul Weekly Feb Monthly Jan Monthly Dec Monthly Dec Quarterly Sep Quarterly Jun Quarterly IDFC-GSF-ST Plan B 21 Aug Weekly Aug Weekly Jul Weekly Mar Quarterly Dec Quarterly NAV (`) : Plan A Growth Plan A Dividend Monthly Plan A Dividend Quarterly Face Value (` / unit) : 10 Fund manager s comment : The fund is mostly into overnight assets. Name % of NAV CBLO Net Current Asset Grand Benchmark : ISEC Composite INDEX 1 C BLO : 73.79% 2 Net Current Asset: 26.21% 1 Fund performance IDFC-GSF-ST Growth 6.22% 7.13% 7.36% 3.23% 3.68% 2.84% 3.91% 2.37% 3.51% 4.04% 1.66% 1.69% 0.82% 3 month 6 month 1 year IDFC-GSF-ST Growth 2 year 3 year 5 year ISEC Composite Index ( ) Past performance may or may not be sustained in futurere 25

27 IDFC All Seasons Bond Fund (IDFC ASBF) An Open Ended Fund of Funds Scheme Nature: Debt Fund Manager: Mr. Suyash Choudhary (w.e.f. 21 oct 2010). Investment objective: Seek to generate optimal returns with high liquidity by active management of the portfolio, by investing predominantly in debt oriented mutual fund schemes and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment Style: The Scheme aims to actively manage the interest rate environment by allocating funds to various fixed income schemes based on the interest rate outlook. Ideal investment horizon:1 year or more Entry Load: Nil Exit Load: IDFC-ASBF - Plan A: 0.75% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days from the date of effecting such purchase/switch in Plan A. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009) Options available: Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Minimum investment amount: `5,000 and in multiples of `1 in plan A (Regular Plan). Additional investment amount: `1 SIP (minimum amount): `1000 Inception Date: 13 September 2004 Statistical Measures: Standard deviation 1.55% Dividend frequency: Quarterly, Half Yearly & Annual Last 3 dividends (`/ unit): Date NAV Freq. Other I & H IDFC-ASBF Plan A 29-Sep Half Yearly Jun Quarterly Jun Quarterly Mar Quarterly Mar Half Yearly Mar Half Yearly Mar Annual NAV (`): Plan A Growth Plan A Dividend Quarterly Plan A Dividend Half Yearly Plan A Dividend Annual Face value (` / unit): 10 Fund Manager's comment: The fund is invested across duration products to optimize mix between accrual and positions around interest rate movements. Benchmark: Crisil Composite Bond Fund Index (CCBFI) Name % of NAV CBLO 2.45 IDFC - SSIF - Investment Plan - Growth Option IDFC Saving Advantage Fund - Growth Mutual Fund Units: Debt Net Current Asset Grand Mutual Fund Units: Debt: % 2 CBLO : 2.45% 1 3 Net Current Asset: -5.35% Fund Performance under the IDFC-ASBF Growth 7.17% 7.33% 6.72% 4.19% 4.99% 4.61% 5.64% 5.74% 5.33% 3.45% 1 year 2 year 3 year 5 year ( ) IDFC-ASBF Growth CRISIL Composite Bond Fund Index Past performance may or may not be sustained in future. 26

28 IDFC Fund Aggressive Plan (IDFC AAF-AP) An Open Ended Fund of Funds Scheme Nature: Fund of Fund Fund Manager: Mr. Kenneth Andrade & Mr. Suyash Choudhary (w.e.f. 23 Dec 2010) Investment objective: The primary objective of Scheme is to generate capital appreciation through investment in different Mutual Funds schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. Investment Style: IDFC (AA) Fund aims to generate capital appreciation through investments in different mutual fund schemes based on a defined asset allocation model. The fund offers 3 different plans with different asset allocations linked to the targeted risk profiles for investors. Conservative plan offers the lowest risk profile followed by Moderate plan. Aggressive plan offers the highest risk profile amongst the 3 plans. Asset allocation allows investors to improve their risk adjusted returns as different asset classes such as equity, fixed income and commodities offer lower correlations with each other. The scheme will be a Fund of Fund scheme that can invest in a mix of ETFs, domestic and offshore Mutual Fund schemes. FoFs give fund manager the flexibility of tailoring portfolios by participating in funds with different styles within each asset class and to easily switch styles depending on the view of the markets. Ideal investment horizon: 1 year or more Entry Load: Nil Exit Load: IDFC-AAF -AP (for all plans) : 1.50% of the NAV shall be applicable if investor who redeem/switch out such investment within 18 months from the date of subscription applying First in First out basis, (including investments through SIP/STP). Switches between plans (within the scheme) shall not attract load. The exit load/cdsc of up to 1% of the redemption value charged to the unit holder by the Fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN Holder and to meet other marketing and selling expenses. Any amount in excess of 1% of the redemption value charged to the unit holder as exit load/ CDSC shall be credited to the respective scheme immediately Options available: Growth, Dividend (payout & reinvestment) Minimum investment amount: Purchase (non SIP) `5,000/- & in multiples of `1/- for purchases and in multiples of `0.01 for switches. Additional ongoing purchase (Non SIP) `1,000/- and in multiples of `1/- thereafter SIP purchase - `1,000/- (subject to minimum of 6 installments of `1,000/- each). Additional investment amount: `1 SIP (minimum amount): `1000 Inception Date: 11 February 2010 Dividend frequency: Such other frequency as decided from time to time. Last 3 dividends (`/ unit): Date NAV Freq. Other I & H 01-Jun NAV (`): Dividend Growth Face value (` / unit): 10 Fund Manager's comment: Equity allocation was divided into large-cap (IDFC imperial equity fund) and Small and Midcap (IDFC SME Fund). On the debt side, duration of the portfolio was stable during the month. The alternate allocation was made to Gold ETF. Benchmark: Crisil Balanced Fund Index Name % of NAV CBLO 1.45 Benchmark Mutual Fund Exchange Traded Funds IDFC Sup Saver Inc Fund - Invest Plan - Plan F Gr IDFC Money Manager Fd - Treas Plan - Plan F - Gr IDFC Super Saver Inc Fund - MediTerm - Plan F - Gr 6.36 IDFC Money Manager Fund - Invt Plan - Plan F - Gr 3.12 Mutual Fund Units: Debt IDFC Imperial Equity Fund-Plan A - Growth IDFC Small & Midcap Equity (SME) Fund - Growth Mutual Fund Units: Equity Net Current Asset Grand Mutual Fund Units: Equity: 45.84% 2 Mutual Fund Units: Debt: 44.48% 3 Exchange Traded Funds: 10.42% 4 CBLO: 1.45% 1 5 Net Current Asset: -2.19% Fund Performance under the IDFC-AAF-AP-Growth 6.30% 7.49% 7.07% 8.56% -1.80% -5.57% -1.25% -4.95% -1.95% 0.09% 1 month 3 month 6 month 1 year ( ) IDFCAAF-AP Growth Past performance may or may not be sustained in future. Crisil Balanced Fund Index 27

29 IDFC Fund Conservative Plan (IDFC AAF-CP) An Open Ended Fund of Funds Scheme Nature: Fund of Fund Fund Manager: Mr. Kenneth Andrade & Mr. Suyash Choudhary (w.e.f. 23 Dec 2010) Investment objective: The primary objective of Scheme is to generate capital appreciation through investment in different Mutual Funds schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. Investment Style: IDFC (AA) Fund aims to generate capital appreciation through investments in different mutual fund schemes based on a defined asset allocation model. The fund offers 3 different plans with different asset allocations linked to the targeted risk profiles for investors. Conservative plan offers the lowest risk profile followed by Moderate plan. Aggressive plan offers the highest risk profile amongst the 3 plans. Asset allocation allows investors to improve their risk adjusted returns as different asset classes such as equity, fixed income and commodities offer lower correlations with each other. The scheme will be a Fund of Fund scheme that can invest in a mix of ETFs, domestic and offshore Mutual Fund schemes. FoFs give fund manager the flexibility of tailoring portfolios by participating in funds with different styles within each asset class and to easily switch styles depending on the view of the markets. Ideal investment horizon: 1 year or more Entry Load: Nil Exit Load: IDFC-AAF -CP (for all plans): 1.50% of the NAV shall be applicable if investor who redeem/ switch out such investment within 18 months from the date of subscription applying First in First out basis, (including investment s through SIP/STP). Switches between plans (within the scheme) shall not attract load. The exit load/ CDSC of up to 1% of the redemption value charged to the unit holder by the Fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN Holder and to meet other marketing and selling expenses. Any amount in excess of 1% of the redemption value charged to the unit holder as exit load/ CDSC shall be credited to the respective scheme immediately Options available: Growth, Dividend (payout & reinvestment) Minimum investment amount: Purchase (non SIP) ` 5,000/- & in multiples of `1/- for purchases and in multiples of `0.01 for switches. Additional ongoing purchase (Non SIP) `1,000/- and in multiples of `1/- thereafter SIP purchase - `1,000/- (subject to minimum of 6 installments of `1,000/- each). Additional investment amount: `1 SIP (minimum amount): `1000 Inception Date: 11 February 2010 Dividend frequency: Such other frequency as decided from time to time Last 3 dividends (`/ unit): Date NAV Freq. Other I & H 12-Jul Jun NAV (`): Dividend Growth Face value (` / unit): 10 Fund Manager's comment: Equity allocation was divided into large-cap (IDFC imperial equity fund) and Small and Midcap (IDFC SME Fund). On the debt side, duration of the portfolio was stable during the month. Benchmark: Crisil MIP Blended Index Name % of NAV CBLO 0.75 IDFC Sup Saver Inc Fund - Invest Plan - Plan F Gr IDFC Money Manager Fd - Treas Plan - Plan F - Gr IDFC Super Saver Inc Fund - MediTerm - Plan F - Gr 5.92 Mutual Fund Units: Debt IDFC Small & Midcap Equity (SME) Fund - Growth 7.55 IDFC Imperial Equity Fund-Plan A - Growth 7.18 Mutual Fund Units: Equity Net Current Asset Grand Mutual Fund Units: Debt: 84.79% Mutual Fund Units: Equity: 14.73% 3 CBLO: 0.75% 1 4 Net Current Asset: -0.27% Fund Performance under the IDFC-AAF-CP-Growth 5.67% 5.88% 4.19% 4.35% 1.72% 0.79% -0.16% 0.06% -0.54% -0.60% 1 month 3 month 6 month 1 year ( ) IDFCAAF-CP Growth Past performance may or may not be sustained in future. Crisil MIP Blended Index 28

30 IDFC Fund Moderate Plan (IDFC AAF-MP) An Open Ended Fund of Funds Scheme Nature: Fund of Fund Fund Manager: Mr. Kenneth Andrade & Mr. Suyash Choudhary (w.e.f. 23 Dec 2010) Investment objective: The primary objective of Scheme is to generate capital appreciation through investment in different Mutual Funds schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. Investment Style: IDFC Fund aims to generate capital appreciation through investments in different mutual fund schemes based on a defined asset allocation model. The fund offers 3 different plans with different asset allocations linked to the targeted risk profiles for investors. Conservative plan offers the lowest risk profile followed by Moderate plan. Aggressive plan offers the highest risk profile amongst the 3 plans. Asset allocation allows investors to improve their risk adjusted returns as different asset classes such as equity, fixed income and commodities offer lower correlations with each other. The scheme will be a Fund of Fund scheme that can invest in a mix of ETFs, domestic and offshore Mutual Fund schemes. FoFs give fund manager the flexibility of tailoring portfolios by participating in funds with different styles within each asset class and to easily switch styles depending on the view of the markets. Ideal investment horizon: 1 year or more Entry Load: Nil Exit Load: IDFC-AAF -MP (for all plans): 1.50% of the NAV shall be applicable if investor who redeem/switch out such investment within 18 months from the date of subscription applying First in First out basis, (including investment s through SIP/STP). Switches between plans (within the scheme) shall not attract load. The exit load/ CDSC of up to 1% of the redemption value charged to the unit holder by the Fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN Holder and to meet other marketing and selling expenses. Any amount in excess of 1% of the redemption value charged to the unit holder as exit load/ CDSC shall be credited to the respective scheme immediately Options available: Growth, Dividend (payout & reinvestment) Minimum investment amount: Purchase (non SIP) `5,000/- & in multiples of `1/- for purchases and in multiples of `0.01 for switches. Additional ongoing purchase (Non SIP) `1,000/- and in multiples of `1/- thereafter SIP purchase - `1,000/- (subject to minimum of 6 installments of `1,000/- each). Additional investment amount: `1 SIP (minimum amount): `1000 Inception Date: 11 February 2010 Dividend frequency: Such other frequency as decided from time to time Last 3 dividends (`/ unit): Date NAV Freq. Other I & H 01-Jun NAV (`): Growth Dividend Face value (`/ unit): 10 Fund Manager's comment: Equity allocation was divided into large-cap (IDFC imperial equity fund) and Small and Midcap (IDFC SME Fund). On the debt side, duration of the portfolio was stable during the month. The alternate allocation was made to Gold ETF. Benchmark: Crisil MIP Blended Index Name % of NAV CBLO 0.46 Benchmark Mutual Fund 5.24 Exchange Traded Funds 5.24 IDFC Sup Saver Inc Fund - Invest Plan - Plan F Gr IDFC Money Manager Fd - Treas Plan - Plan F - Gr IDFC Super Saver Inc Fund - MediTerm - Plan F - Gr IDFC Money Manager Fund - Invt Plan - Plan F - Gr 6.01 Mutual Fund Units: Debt IDFC Small & Midcap Equity (SME) Fund - Growth IDFC Imperial Equity Fund-Plan A - Growth Mutual Fund Units: Equity Net Current Asset Grand Mutual Fund Units: Debt: 72.89% Mutual Fund Units: Equity: 22.77% 3 Exchange Traded Funds: 5.24% 4 CBLO: 0.46% 1 5 Net Current Asset: -1.35% Fund Performance under the IDFC-AAF-MP-Growth 6.09% 5.67% 6.50% 5.88% 1.72% -0.43% 0.06% -1.88% 0.34% -0.60% 1 month 3 month 6 month 1 year ( ) IDFCAAF-MIP Growth performance may or may not be sustained in future. Crisil MIP Blended Index Past 29

31 IDFC Monthly Income Plan (IDFC MIP) An Open Ended Fund of Funds Scheme Nature: Fund of Fund Fund Manager: Mr. Kenneth Andrade & Mr. Suyash Choudhary (w.e.f. 23 Dec 2010) Investment objective: The primary objective of Scheme is to generate regular returns through investment primarily in debt oriented Mutual Fund schemes (such as Income and Liquid funds). The secondary objective is to generate long-term capital appreciation by investing a portion 's assets in equity oriented schemes. Monthly Income is not assured and the same is subject to availability of distributable surplus Investment Style: The scheme will be a fund of fund that will combine the benefits of asset allocation and diversification in a single product. The fund of fund approach allows the fund manager to participate in funds with different styles within various funds available for investments. Ideal investment horizon: - 1 year or more Entry Load: Nil Exit Load: 1% of the NAV shall be applicable if investors who redeem/switch out such investments within one year (365 Days) from the date of subscription applying First in First Out basis, (including investments through SIP/STP).Noload shall be applicable for switches between options of the schemes. (w.e.f 7 Jan 2011) Options available: Growth, Dividend (payout, reinvestment and auto sweep) Minimum investment amount: `5,000/- & in multiples of `1/- for purchases and inmultiples of `0.01 for switches. Additional ongoing purchase (Non SIP) `1,000/- and in multiples of `1/- thereafter SIP purchase - `1,000/- (subject to minimum of 6 installments of `1,000/- each). Additional investment amount: `1 SIP (minimum amount): `1000 Inception Date: 25 February 2010 Dividend frequency: Monthly, Quarterly and such other frequency as decided from time to time. Last 3 dividends (`/ unit): Date NAV Freq. Other I & H 05-Jul Jun NAV (`): Growth Dividend Quarterly Dividend Plan A Face value (`/ unit): 10 Fund Manager's comment: The Equity allocation was divided into IDFC Imperial, SME, Strategic sector and GDP fund. On the debt side, the duration of the portfolio was stable during the month. Benchmark: Crisil MIP Blended Index Name % of NAV CBLO 0.37 IDFC Sup Saver Inc Fund - Invest Plan - Plan F Gr IDFC Super Saver Inc Fund - MediTerm - Plan F - Gr IDFC Saving Advantage Fund - Plan F - Growth IDFC Dynamic Bond Fund -Plan B Growth 5.72 IDFC Money Manager Fund - Invt Plan - Plan F - Gr 2.63 Mutual Fund Units: Debt IDFC Small & Midcap Equity (SME) Fund - Growth IDFC Imperial Equity Fund-Plan A - Growth 5.94 IDFC India GDP Growth Fund - Growth Plan 3.36 IDFC Strategic Sector Fund - Plan A - Growth 2.79 Mutual Fund Units: Equity Net Current Asset Grand Fund Performance under the IDFC-MIP-Growth 5.67% 5.81% 4.38% 4.65% -0.61% 0.06% -1.95% -0.60% 1.72% 2 1 Mutual Fund Units: Debt: 78.52% 1 month 3 month 6 month -0.29% 1 year ( ) Mutual Fund Units: Equity: 22.55% 3 CBLO: 0.37% IDFC-MIP Growth Past performance may or may not be sustained in future. Crisil MIP Blended Index 1 4 Net Current Asset: -1.45% 30

32 IDFC HYBRID PORTFOLIO FUND - SERIES I (IDFC HPFS-I) A Close Ended Debt Scheme Nature : Debt Fund Manager : Mr. Kenneth Andrade (w.e.f. 23 Dec 2010) Investment objective : The scheme endeavors to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. There can be no assurance that the investment objective of the scheme will be realised. Investment Style : It will follow a passive investment style on both debt and equity. The debt portfolio has been constructed such that it matures around the maturity date of the portfolio. Initial equity allocation was within 10% of AUM. Entry Load : Nil Exit Load : Nil Options available : Growth, Dividend Minimum investment amount :` 5,000/- per application and in multiples of ` 10/- thereafter. Inception Date : 31 March, 2010 Nav (`) : Dividend Growth Name in Lac(`) % of NAV CBLO IDFC Cash Fund - Plan B (G) (Institutional Plan) Mutual Fund Units: Debt Housing Development Finance Cor Ltd Zero Coupon Bonds Shriram Transport Finance Co Ltd Rural Electrification Corp Ltd Sundaram Finance Limited LIC Housing Finance Ltd Power Finance Corporation Limited Corporate Bond Other Equity Net Current Asset Grand Face Value (` / unit) : 10 Asset allocation (equity / debt / cash ) : 9.40% /86.88% / 3.72% Benchmark : Crisil MIP Blended Index 1.86 Fund Performance under the IDFC-HPFS-I-Growth % % % -0.60% 3 month IDFC-HPFS1 Growth Past performance may or may not be sustained in future. ( ) Crisil MIP Blended Index Construction Minerals/mining Gas Cement Diversified Telecom - Services Industrial Capital Goods Oil Non - Ferrous Metals Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto Petroleum Products Software Banks 31

33 IDFC CAPITAL PROTECTION ORIENTED FUND - SERIES I (IDFC CPOF-S-I) A Three Year Close Ended Scheme Nature : Debt Fund Manager : Mr. Kenneth Andrade (w.e.f. 23 Dec 2010) Investment objective : The scheme endeavours to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. However, there can be no assurance that the investment objective of the scheme will be realized. Investment Style : It will follow a passive investment style on both debt and equity. The debt portfolio has been constructed such that it matures around the maturity date of the portfolio and is of the highest credit quality (AAA rated). Initial equity allocation was within 15% of AUM. Entry Load : Nil Exit Load : Nil Options available : Growth, Dividend Minimum investment amount :` 5000/- per application and in multiples of ` 10/- thereafter. Inception Date : 31 March, 2010 Nav (`): Dividend Growth Face Value (` / unit) : 10 Asset allocation (equity / debt / cash ): 13.81% / 83.08% /3.12% Benchmark :Crisil MIP Blended Index Name in Lac(`) % of NAV CBLO Reliance Industries Ltd Petroleum Products Infosys Technologies Ltd Software IDFC CF-Plan C-Growth Mutual Fund Units: Debt Export Import Bank Of India Power Finance Corporation Limited LIC Housing Finance Ltd ICICI Bank Ltd Rural Electrification Corp Ltd Housing Development Finance Cor Ltd Tata Motors Ltd Britannia Industries Ltd Corporate Bond Other Equity Net Current Asset Grand Fund Performance under the IDFC-CPOF-Series I-Growth % % -0.60% 3 month IDFC-CPOS1 Growth 0.18% Past performance may or may not be sustained in future 1.72% 6 month 1.87% ( ) IDFC-CPOS1 Growth Crisil MIP Blended Index Construction Minerals/mining 0.17 Gas Cement Diversified Telecom - Services Pharmaceuticals Industrial Capital Goods Oil Non - Ferrous Metals Power 0.64 Ferrous Metals Construction Project Consumer Non Durables Auto Finance Petroleum Products Software Banks 32

34 IDFC CAPITAL PROTECTION ORIENTED FUND - SERIES II (IDFC CPOF-S-II) A Three Year Close Ended Scheme Nature : Debt Fund Manager : Mr. Kenneth Andrade (w.e.f. 23 Dec 2010) Investment objective :The scheme endeavours to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. However, there can be no assurance that the investment objective of the scheme will be realized. Investment Style :It will follow a passive investment style on both debt and equity. The debt portfolio has been constructed such that it matures around the maturity date of the portfolio and is of the highest credit quality (AAA rated). Initial equity allocation was within 15% of AUM. Entry Load : Nil Exit Load : Nil Options available : Growth, Dividend Minimum investment amount :Rs. 5000/- per application and in multiples of ` 10/- thereafter. Inception Date : 09 July, 2010 Nav (Rs.): Dividend Growth Face Value (` / unit) : 10 Asset allocation (equity / debt / cash ) : 13.47% /81.32% /5.21% Benchmark :Crisil MIP Blended Index Name in Lac(`) % of NAV Other Equity Reliance Industries Ltd Petroleum Products Infosys Technologies Ltd Software Tata Motors Ltd Power Finance Corporation Limited Power Grid Corporation Ltd Hindustan Petroleum Corporation Ltd LIC Housing Finance Ltd Britannia Industries Ltd National Bank For Agri. & Rural Dev Corporate Bond Net Current Asset Grand Fund Performance under the IDFC-CPOF-Series I I-Growth % % -0.60% 0.31% month IDFC-CPOS2 Growth Past performance may or may not be sustained in future. ( ) Crisil MIP Blended Index Construction Minerals/mining Gas Cement Diversified Telecom - Services Industrial Capital Goods Oil Non - Ferrous Metals Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto Petroleum Products Software Banks 33

35 IDFC CAPITAL PROTECTION ORIENTED FUND -SERIES III (IDFC CPOF-S-III) A Three Year Close Ended Scheme Nature : Debt Fund Manager : Mr. Kenneth Andrade (w.e.f. 23 Dec 2010) Investment objective :The scheme endeavours to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. However, there can be no assurance that the investment objective of the scheme will be realized. Investment Style :It will follow a passive investment style on both debt and equity. The debt portfolio has been constructed such that it matures around the maturity date of the portfolio and is of the highest credit quality (AAA rated). Initial equity allocation was within 15% of AUM. Entry Load : Nil Exit Load : Nil Options available : Growth, Dividend Minimum investment amount :Rs. 5000/- per application and in multiples of ` 10/- thereafter. Inception Date :20 August, 2010 Nav (Rs.) : Dividend Growth Face Value (` / unit) : 10 Asset allocation (equity / debt / cash ) : 13.28% /82.49% / 4.22% Benchmark :Crisil MIP Blended Index (A) (A) Name in Lac(`) % of NAV CBLO Reliance Industries Ltd Petroleum Products Infosys Technologies Ltd Software National Bank For Agri. & Rural Dev Tata Motors Ltd ICICI Bank Ltd Power Finance Corporation Limited LIC Housing Finance Ltd Rural Electrification Corp Ltd Britannia Industries Ltd Corporate Bond Other Equity Net Current Asset Grand Fund Performance under the IDFC-CPOF-Series III-Growth % % ( ) IDFC-CPOS3 Growth Past performance may or may not be sustained in future. Crisil MIP Blended Index Construction Minerals/mining Gas Cement Diversified Telecom - Services Industrial Capital Goods Oil Non - Ferrous Metals Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto Petroleum Products Software Banks 34

36 IDFC SAVING SCHEME - SERIES I (IDFC SSS-I) A Close Ended Debt Scheme Nature : Debt Fund Manager : Mr. Kenneth Andrade (w.e.f. 23 Dec 2010) Investment objective : The scheme endeavors to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. There can be no assurance that the investment objective of the scheme will be realized. Entry Load : Nil Exit Load : Nil Options available : Growth, Dividend Minimum investment amount : ` 5,000/- per application and in multiples of ` 10/- thereafter. Inception Date : 08 Nov, 2010 Nav (`): Growth Dividend Face Value (` / unit) : 10 Asset allocation (equity / debt / cash ) : 11.76% /86.03% / 2.20% Benchmark : Crisil MIP Blended Index Name in Lac(`) % of NAV CBLO Reliance Industries Ltd Petroleum Products Infosys Technologies Ltd Software IDFC CF-Plan C-Growth Mutual Fund Units: Debt IDFC Small & Midcap Equity (SME) Fund - Growth IDFC Nifty Fund - Growth Mutual Fund Units: Equity Housing Development Finance Cor Ltd Zero Coupon Bonds Power Finance Corporation Limited Infrastructure Development Finance Company Ltd National Housing Bank LIC Housing Finance Ltd Corporate Bond Other Equity Net Current Asset Grand Fund Performance under the IDFC-SSS-I-Growth 1.74 ( ) -1.45% % IDFC-SSS1 Growth Past performance may or may not be sustained in future. Crisil MIP Blended Index Construction Minerals/mining Gas Cement Diversified Telecom - Services Industrial Capital Goods Oil Non - Ferrous Metals Pharmaceuticals Power Ferrous Metals Construction Project Consumer Non Durables Finance Auto Petroleum Products Software Banks 35

37 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 30 Mar 2010) IDFC-FMP Thirteen Months Series 5 Date of Maturity 28 Apr 2011 % to Net Current Asset A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub C Money Market s (VII) CPs - - (VIII) CDs 13, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub 13, D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets (8.63) (0.06) G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 13, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Dividend Plan A Growth *Face value per unit = Rs 10/- Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Guarantor / Details of Underlying Security Pool (VI) Originator Seller Trust Details Type of Pool C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) s of the Scheme CPs CDs Karnataka Bank Ltd A IDBI Bank Ltd A Federal Bank Ltd P ICICI Bank Ltd A Kotak Mahindra Bank Ltd P , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 36

38 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 17 Mar 2010) IDFC-FMP Fourteen Months Series - 1 Date of Maturity 16 May 2011 A Bonds & Debentures of : (I) Private Corporate Bodies 1, (II) PSUs 1, (III) Banks/FI (including NBFC) 3, (IV) Others - - Sub (A=I+II+III+IV) B Securitised Debt s (V) Single Loan 2, (VI) Pool - - Sub (B=V+VI) 2, C Money Market s (VII) CPs 4, (VIII) CDs 8, (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Ministry Of Railways, GOI Pool Contd % to Net Asset of the Scheme Sub (C=VII+VIII+IX+X+XI+XII) 13, D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets G Others (Pls specify) - - Net Assets 22, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies Kesoram Industries LTD AA 4.40 Tata Motors Ltd AAA , PSUs LIC Housing Finance Ltd. 1, AAA , Banks/FI (including NBFC) Housing Development Finance Cor Ltd 1, AAA 7.54 Infrastructure Development Finance Company Ltd. 1, AAA 5.14 Bajaj Finance Ltd LAA , Others Guarantor / Details of Underlying Security Level of Guarantee (as % of Loan) Indian Railways Finance Nova IV Trust - Lease Agreement for Rolling Stock- Corporation Ltd LOCOMOTIVE Like Locomotive 0.00% 2, AAA(IND)(SO) 2, (VI) Originator Seller Trust Details Type of Pool C) Money Market s the Issuer (in Rs.lakh) Credit enhancement (as % of Loan) s of the Scheme (VII) CPs L&T FINANCE LTD 4, PR , (VIII) CDs IDBI Bank Ltd 5, A Karnataka Bank Ltd 3, A , (IX) T Bills (X) CBLOs/Repos - - CBLO/Repo Transaction (XI) Bills Rediscounting/BRDS - - (XII) Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 37

39 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 17 Feb 2011) IDFC-FMP SIXTEEN MONTHS SERIES 3 Date of Maturity 17 Jun 2012 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) 1, (IV) Others - - Sub (A=I+II+III+IV) 1, B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 9, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub (C=VII+VIII+IX+X+XI+XII) 9, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) Net Assets (A+B+C+D+E+F+G) 10, NAV (As on 28 th Feb 2011) Annexure A) Bonds & Debentures Category of Issuer the Issuer (in Rs.lakh) (I) (II) (III) (IV) Private Corporate Bodies PSUs PLAN (Rs./Unit*) Plan Dividend Plan Growth *Face value per unit = Rs 10/- s of the Scheme Banks/FI (including NBFC) Housing Development Finance Cor Ltd 1, AAA , Others B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Guarantor / Details of Underlying Security Pool (VI) Originator Seller Trust Details Type of Pool Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) C) Money Market s (VII) (VIII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs Axis Bank Limited 2, P Canara Bank 2, P Oriental Bank of Commerce 2, P State Bank Of Travancore 1, P Andhra Bank Ltd PR , (ix) TBills - - (x) CBLOs/Repos CBLO/REPO Transaction (xi) Bills Rediscounting/BRDS - - (xii) Others - - D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 38

40 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 23 Dec 2009) IDFC-FMP Seventeen Months Series 1 Date of Maturity 22 May 2011 A Bonds & Debentures of : (I) Private Corporate Bodies (II) PSUs (III) Banks/FI (including NBFC) (IV) Others - - Sub (A=I+II+III+IV) 1, B Securitised Debt s (V) Single Loan (VI) Pool - - Sub (B=V+VI) C Money Market s (VII) CPs - - (VIII) CDs - - (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub (C=VII+VIII+IX+X+XI+XII) D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) Net Assets (A+B+C+D+E+F+G) 2, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Dividend Plan A Growth Plan B Growth *Face value per unit = Rs 10/- Annexure A) Bonds & Debentures Category of Issuer the Issuer (in Rs.lakh) (I) (II) (III) (IV) B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Ministry Of Railways, GOI s of the Scheme Private Corporate Bodies Tata Motors Ltd AAA Tata Sons Ltd AAA PSUs LIC Housing Finance Ltd AAA Banks/FI (including NBFC) Infrastructure Development Finance Company Ltd AAA Kotak Mahindra Prime Ltd LAA Housing Development Finance Cor Ltd AAA Others Guarantor / Details of Underlying Security Level of Guarantee (as % of Loan) Indian Railways Finance Lease Agreement for Rolling Stock- Nova IV Trust - LOCOMOTIVE Corporation Ltd Like Locomotive 0.00% AAA(SO) Pool (VI) Originator Seller Trust Details Type of Pool C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) Credit enhancement (as % of Loan) s of the Scheme CPs CDs T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 39

41 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 04 Nov 2010) IDFC-FMP Eighteen Months Series - 7 Date of Maturity 03 May 2012 A Bonds & Debentures of : (I) Private Corporate Bodies 1, (II) PSUs - - (III) Banks/FI (including NBFC) 8, (IV) Others - - Sub (A=I+II+III+IV) 10, B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs - - (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub (C=VII+VIII+IX+X+XI+XII) - - D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 10, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) B) Securitised Debt s Single Loan the Issuer (V) Obligor Originator Trust Details Pool (in Rs.lakh) s of the Scheme Private Corporate Bodies Tata Sons Ltd. 1, AAA , PSUs Banks/FI (including NBFC) Kotak Mahindra Prime Ltd. 1, LAA SREI Equipment Finance Pvt Ltd 1, AA SREI Infrastructure Finance Ltd. 1, AA Bajaj Finance Ltd. 1, LAA Tata Capital Limited 1, AA Mahindra & Mahindra Fin Ser Ltd. 1, AA , Others Guarantor / Details of Underlying Security Level of Guarantee (as % of Loan) - (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as % of Loan) - C) Money Market s the Issuer (in s of (VII) CPs (VIII) CDs - - Indusind Bank Limited (IX) T Bills - - (X) CBLOs/Repos CBLO/Repo Transaction - - (XI) Bills Rediscounting/BRDS - - (XII) Others D) Government Securities E) Fixed Deposits Details of Securities Bank Name Amount s - 40

42 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 21 Dec 2010) IDFC-FMP Quarterly Series - 61 Date of Maturity 21 Mar 2011 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub C Money Market s (VII) CPs - - (VIII) CDs 74, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) B) Securitised Debt s Single Loan the Issuer Contd Sub (C=VII+VIII+IX+X+XI+XII) 74, D Government Securities - - E Fixed Deposits 18, F Cash and Net Current Assets G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 93, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others (V) Obligor Originator Trust Details Guarantor / Details of Underlying Security Pool (VI) Originator Seller Trust Details Type of Pool C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) s of the Scheme CPs CDs Allahabad Bank 24, P Punjab National Bank 19, P Kotak Mahindra Bank Ltd. 9, P Yes Bank Ltd. 9, A Bank of Maharashtra. 8, P Andhra Bank Ltd PR Federal Bank Ltd P , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Secities s E) Fixed Deposits Bank Name Amount s Indusind Bank Limited 9, Karur Vysya Bank Ltd. 9, ,

43 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 21 Jan 2011) IDFC-FMP Quarterly Series - 62 Date of Maturity 21 April 2011 A Bonds & Debentures of : - - (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub B Securitised Debt s - - (V) Single Loan - - (VI) Pool - - Sub C Money Market s (VII) CPs - - (VIII) CDs 30, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) B) Securitised Debt s Single Loan the Issuer Contd Sub (C=VII+VIII+IX+X+XI+XII) 30, D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 30, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others (V) Obligor Originator Trust Details Guarantor / Details of Underlying Security Pool (VI) Originator Seller Trust Details Type of Pool C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) s of the Scheme CPs CDs Axis Bank Limited 8, P Standard Chartered Bank 8, P Jammu & Kashmir Bank Limited 7, P Bank of Maharashtra. 4, A , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s - 42

44 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 18 Aug 2010) IDFC-FMP Yearly Series - 32 Date of Maturity 19 Aug 2011 A Bonds & Debentures of : (I) Private Corporate Bodies (II) PSUs - - (III) Banks/FI (including NBFC) 5, (IV) Others - - Sub (A=I+II+III+IV) 5, B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs 8, (VIII) CDs 21, (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub (C=VII+VIII+IX+X+XI+XII) 29, D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 34, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) B) Securitised Debt s Single Loan the Issuer (V) Obligor Originator Trust Details Pool (in Rs.lakh) s of the Scheme Private Corporate Bodies Tata Sons Ltd AAA 0.69 Tata Motors Ltd AAA PSUs Banks/FI (including NBFC) L&T FINANCE LTD 4, AA Kotak Mahindra Prime Ltd LAA , Others Guarantor / Details of Underlying Security (VI) Originator Seller Trust Details Type of Pool Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in s of CPs Morgan Stanley (I) Capital Pvt Ltd 8, F , CDs ICICI Bank Ltd. 9, A Yes Bank Ltd. 9, A Oriental Bank of Commerce 1, P , T Bills CBLOs/Repos Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 43

45 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 14 Sep 2010) IDFC-FMP Yearly Series - 33 Date of Maturity 20 Sep 2011 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 17, (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub (C=VII+VIII+IX+X+XI+XII) 17, D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 17, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- Annexure A) Bonds & Debentures Category of Issuer the Issuer (in Rs.lakh) s of the Scheme (I) Private Corporate Bodies (II) PSUs (III) Banks/FI (including NBFC) - - (IV) Others Private Corporate Bodies - - B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Pool Guarantor / Details of Underlying Security (VI) Originator Seller Trust Details Type of Pool Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in s of CPs CDs Bank of India 4, P Yes Bank Ltd. 4, A Punjab & Sindh Bank Ltd 4, A Andhra Bank Ltd 3, PR Oriental Bank of Commerce P , T Bills CBLOs/Repos Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 44

46 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Fund (Allotment Date 05 Oct 2010) IDFC-FMP Yearly Series - 34 Date of Maturity 05 Oct 2011 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs 14, (VIII) CDs - - (IX) T Bills (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Contd Sub (C=VII+VIII+IX+X+XI+XII) 14, D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets G Others (Pls specify) - - Net Assets (A+B+C+D+E+F+G) 14, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- Annexure A) Bonds & Debentures Category of Issuer the Issuer (in Rs.lakh) s of the Scheme (I) Private Corporate Bodies (II) PSUs (III) Banks/FI (including NBFC) - - (IV) Others Private Corporate Bodies - - B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Pool Guarantor / Details of Underlying Security (VI) Originator Seller Trust Details Type of Pool Level of Guarantee (as % of Loan) Credit enhancement (as % of Loan) C) Money Market s the Issuer (in s of (VII) CPs (VIII) CDs State Bank Of Patiala 3, P State Bank Of Mysore 3, A Yes Bank Ltd. 2, A Bank of India 2, A State Bank Of Travancore 1, P Oriental Bank of Commerce P , (IX) T Bills (X) CBLO/Repo Transaction (XI) Bills Rediscounting/BRDS (XII) Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s

47 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 14 Jan 2011) IDFC-FMP Yearly Series - 35 Date of Maturity 14 Jan 2012 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 49, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Sub (C=VII+VIII+IX+X+XI+XII) 49, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets (6.54) (0.01) G Others (Pls specify) - - Net Assets 49, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs Bank of India 11, P State Bank Of Bikaner & Jaipur 9, P Axis Bank Limited 9, P ICICI Bank Ltd. 9, A State Bank of Hyderabad 4, P Indian Bank 4, F Canara Bank P Corporation Bank P State Bank Of Travancore P , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 46

48 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 02 Feb 2011) IDFC-FMP Yearly Series - 36 Date of Maturity 04 Feb 2012 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 14, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Sub (C=VII+VIII+IX+X+XI+XII) 14, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) - - Net Assets 14, NAV (As on Feb 28th 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs Punjab National Bank 3, PR Union Bank of India 3, P Indian Bank 2, F ICICI Bank Ltd. 2, A Axis Bank Limited 2, A , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 47

49 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 15 Feb 2011) IDFC-FMP Yearly Series - 37 Date of Maturity 16 Feb 2012 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 64, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Sub (C=VII+VIII+IX+X+XI+XII) 64, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) - - Net Assets 64, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs ICICI Bank Ltd. 18, A Axis Bank Limited 18, A Karur Vysya Bank Ltd. 9, P Indian Overseas Bank 4, A Bank Of Baroda 4, P Punjab National Bank 4, P Kotak Mahindra Bank Ltd. 4, P Indusind Bank Ltd A , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 48

50 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 23 Feb 2011) IDFC-FMP Yearly Series - 38 Date of Maturity 27 Feb 2012 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 24, (IX) T Bills - - (X) CBLOs/Repos (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer Sub (C=VII+VIII+IX+X+XI+XII) 24, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) - - Net Assets 24, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs Oriental Bank of Commerce 6, P Axis Bank Limited 6, P Canara Bank 4, P Andhra Bank Ltd 3, PR Corporation Bank 2, P , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 49

51 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 18 Nov 2010) IDFC-FMP Half Yearly Series - 12 Date of Maturity 18 May 2011 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 21, (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Sub (C=VII+VIII+IX+X+XI+XII) 21, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) - - Net Assets 21, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs IDBI Bank Ltd 4, A Andhra Bank Ltd 4, P Dhanalaxmi Bank Ltd 4, PR Indusind Bank Limited 4, A ICICI Bank Ltd. 2, A , T Bills CBLOs/Repos Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 50

52 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 04 Feb 2011) IDFC FMP Series - I Date of Maturity 15 May 2011 A Bonds & Debentures of : (I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - - Sub (A=I+II+III+IV) - - B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 27, (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Sub (C=VII+VIII+IX+X+XI+XII) 27, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets 2.67 (0.01) G Others (Pls specify) - - Net Assets 27, NAV (As on28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies PSUs Banks/FI (including NBFC) Others Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs Vijaya Bank 7, PR UCO Bank 7, P Punjab National Bank 7, PR Karur Vysya Bank Ltd. 4, P , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 51

53 IDFC Fixed Maturity Plan (IDFC FMP) An Close Ended Income Scheme (Allotment Date 25 Jan 2011) IDFC-FMP Thirty Six Months Series 2 Date of Maturity 24 Jan 2014 A Bonds & Debentures of : (I) Private Corporate Bodies (II) PSUs - - (III) Banks/FI (including NBFC) (IV) Others - - Sub (A=I+II+III+IV) 1, B Securitised Debt s (V) Single Loan - - (VI) Pool - - Sub (B=V+VI) - - C Money Market s (VII) CPs - - (VIII) CDs 2, (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - - (XII) Others - - Annexure A) Bonds & Debentures Category of Issuer (I) (II) (III) (IV) the Issuer B) Securitised Debt s Single Loan (V) Obligor Originator Trust Details Sub (C=VII+VIII+IX+X+XI+XII) 2, D Government Securities - - E Fixed Deposits F Cash and Net Current Assets G Others (Pls specify) - - Net Assets 4, NAV (As on 28 th Feb 2011) PLAN (Rs./Unit*) Plan A Growth Plan A Dividend *Face value per unit = Rs 10/- (in Rs.lakh) s of the Scheme Private Corporate Bodies Aditya Birla Nuvo LTD LAA PSUs Banks/FI (including NBFC) L&T FINANCE LTD AA Sundaram BNP Paribas Home Fina Ltd AA Others Guarantor / Details of Underlying Security Level of Guarantee (as% of Loan) - Pool (VI) Originator Seller Trust Details Type of Pool Credit enhancement (as% of Loan) - C) Money Market s (VII) (VIII) (IX) (X) (XI) (XII) the Issuer (in Rs.lakh) s of the Scheme CPs CDs Union Bank of India 1, P IDBI Bank Ltd A State Bank Of Travancore P , T Bills CBLOs/Repos CBLO/Repo Transaction Bills Rediscounting/BRDS Others D) Government Securities Details of Securities s E) Fixed Deposits Bank Name Amount s 52

54 Equity Snap Shot IDFC Arbitrage Plus Fund (IDFC - APF) IDFC Classic Equity Fund (IDFC - CEF) IDFC Premier Equity Fund (IDFC - PEF) IDFC Small & Midcap Equity Fund (IDFC - SMEF) IDFC Imperial Equity Fund (IDFC - IEF) IDFC Strategic Sector Equity Fund (IDFC - SSEF) IDFC Equity Fund (IDFC - EF) IDFC India GDP Growth Fund (IDFC - IGGF) Nature Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Fund +Inception Date June 9, 2008 August 9, 2005 September 28, 2005 March 7, 2008 March 16, 2006 October 3, 2008 June 9, 2006 March 11, 2009 Investment Objective The investment objective of the Scheme is to generate income (absolute to low volatility returns) by taking advantage of opportunities in the cash and the derivative segments of the equity The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments. However, there is no markets including the arbitrage assurance or guarantee that opportunities available within the objectives of the scheme the derivative segment, by will be realized. using other derivative based strategies and by investing the balance in debtand money market instruments. However there is no assurance that the investment objective of the scheme will be realized. The Scheme shall seek to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments. However there is no assurance or guarantee that the objectives of the scheme will be realized. The investment objective of the Scheme is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments. The Scheme will predominantly invest in small and midcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index. The Scheme may also invest in stock other than mid cap stocks (i.e. in stocks, which have a market capitalisation of above the market capitalisation range of the defined small midcap stocks) and derivatives. On defensive consideration, the Scheme may also invest in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. The investment objective of the scheme is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or guarantee that the objectives of the scheme will be realized. The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity & Equity related instruments. The investment objective of the fund shall be achieved by investing up to fifty percent of the asset of the scheme in a chosen sector (Sector Specific Exposure) while the balance amount may be invested in companies across market capitalizations The investment objective of the scheme is to seek to generate capital growth from a portfolio of predominantly equity and equity related instruments (including Equity Derivatives). The scheme may also invest in debt & money market instruments to generate reasonable income. However there and across sectors (Diversified is no assurance or Exposure). The scheme may guarantee that the also invest in debt & money objectives of the market instruments. There is scheme will be no assurance or guarantee realized. that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in equity and equity related instruments. The scheme aims to capture the growth in India s Gross Domestic Product (GDP). The scheme would endeavour to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in debt & money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. Fund Manager Ritesh Kumar & Suyash Choudhary Tridib Pathak Kenneth Andrade Kenneth Andrade Tridib Pathak Kenneth Andrade Kenneth Andrade Neelotpal Sahai Ideal Investment Horizon 1 Year or more 3 Years or more 3 Years or more 3 Year or more 3 Year or more 3 Year or more 3 Year or more 3 Year or more Minimum Investment Amount Plan A ` 5,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. ` 25,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter ` 5,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. Plan B ` 25 Lacs and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. ` 25,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. ` 5,000/- and in multiples of ` 1/- thereafter. Additional Investment Amount ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- Entry Load Nil Nil Nil Nil Nil Nil Nil Nil Exit Load Plan A & Plan B: 0.50% if redeemed before 365 days from the date of investment. (w.e.f. 24 Aug 2009) Plan A & Plan B: 1.00% if redeemed before 365 days from the date of investment. (w.e.f. 1 Sept 2009) Plan A & Plan B: 1.00% if Plan A & Plan B: 1.00% if redeemed before 365 days redeemed before 365 days from from the date of the date of investment. investment. (w.e.f. 11 Sept 2009) (w.e.f. 1 Sept 2009) Plan A & Plan B: 1.00% if redeemed before 365 days from the date of investment. (w.e.f. 1 Sept 2009) Plan A & Plan B: 1.00% if redeemed before 365 days from the date of investment. (w.e.f. 1 Sept 2009) Plan A & Plan B: 1.00% if redeemed before 365 days from the date of investment. (w.e.f. 1 Sept 2009) 1% if redeemed before 365 days from the date of investment. (w.e.f.) 01 Sept 2009) Options Available Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Grow Growth & Dividend Reinvestment facility is available under the Dividend Option Growth & Dividend Reinvestment facility is available under the Dividend Option. Growth & Dividend Growth & Dividend Growth,& Dividend Growth & Dividend Reinvestment facility is.reinvestment facility is available under the available under the Dividend Dividend Option. Option. Growth & Dividend Reinvestment facility is also available under the dividend option. Dividend Frequency When available Dividend Re-investment At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV SIP (MinimumAmount) NA Plan A: ` 1,000/- Plan B: ` 1,000/- Plan A: ` 2,000/- Plan B: ` 2,000/- ` 1,000/- Plan A: ` 1,000/- Plan B: ` 1,000/- Plan A: ` 1,000/- Plan B: ` 1,000/- Plan A: ` 1,000/- Plan B: ` 1,000/- ` 2,000/- SIP Frequency NA Daily, Weekly, Fortnightly, Monthly Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly SIP DatesWeekly Fortnightly Monthly NA 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month Lock in Period Nil Nil Nil Nil Nil Nil Nil Nil Face Value (`/Unit) ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- NAV Frequency All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days Benchmark Crisil Liquid Fund Index BSE 200 BSE 500 CNX Midcap S&P CNX Nifty S&P CNX Nifty S&P CNX Nifty BSE

55 Equity Snap Shot IDFC Nifty Fund (IDFC-NF) IDFC Tax Advantage (ELSS) Fund (IDFC-TA(ELSS) IDFC Arbitrage Fund (IDFC-AF) IDFC Tax Saver (ELSS) Fund (IDFC-TS(ELSS) IDFC Asset Allocation Fund - Aggressive Plan (IDFC-AAF-AP) IDFC Asset Allocation Fund - Conservative Plan (IDFC-AAF-CP) IDFC Asset Allocation Fund - Moderate Plan (IDFC-AAF-MP) IDFC Monthly Income Plan (IDFC-MIP) IDFC Hybrid Fund - Series I (IDFC-HPF-S-I) IDFC Capital Protection Oriented Fund - Series 1 (IDFC-CPOF-S-I) Nature Open-Ended Index Linked Equity Scheme Open ended Equity Open-ended Equity Linked Saving Scheme Fund with lock in period of 3 years 10 year closed ended Equity Linked Saving Scheme Open - Ended Fund of Funds Scheme Open - Ended Fund of Funds Scheme Open - Ended Fund of Funds Scheme Open - Ended Fund of Funds Scheme A Close - Ended Debt Scheme A Close - Ended Scheme Inception Date April 30, 2010 December 26, 2008 December 21, 2006 March 15, 2007 February 11, 2010 February 11, 2010 February 11, 2010 February 25, 2010 March 31, 2010 March 31, 2010 Investment Objective The investment objective of the scheme is to replicate the S&P CNX Nifty Index by investing in securities of the S&P CNX Nifty Index in the same proportion/wightage. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments 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.. The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments. There can be no assurance that the investment objective of the scheme will be realised. The primary objective of Scheme is to generate capital appreciation through investment in different Mutual Funds schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. The primary objective of Scheme is to generate capital appreciation through investment in different Mutual Funds schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. The primary objective of Scheme is to generate capital appreciation through investment in different Mutual Funds schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. The primary objective of Scheme is to generate regular returns through investment primarily in debt oriented Mutual Fund schemes (such as Income and Liquid funds). The secondary objective is to generate long-term capital appreciation by investing a portion 's assets in equity oriented MF schemes. Monthly Income is not assured and the same is subject to availability of distributable surplus The scheme endeavors to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. There can be no assurance that the investment objective of the scheme will be realised. The scheme endeavours to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. However, there can be no assurance that the investment objective of the scheme will be realized.. Fund Manager Tridib Pathak Neelotpal Sahai (w.e.f. 22 Sep, 2010) Ritesh Kumar & Suyash Choudhary Neelotpal Sahai. (w.e.f. 22 Sep, 2010) Kenneth Andrade &. Suyash Choudhary Kenneth Andrade &. Suyash Choudhary Kenneth Andrade &. Suyash Choudhary Kenneth Andrade &. Suyash Choudhary Kenneth Andrade Kenneth Andrade Ideal Investment Horizon 3 years or more 3 Years or more 1 Year or more 3 Years or more 1 Year or more 1 Year or more 1 Year or more 1 Year or more 18 Months 36 Months Minimum Investment Amount Plan A Plan B `500 and in multiples of 1/- `500 `5,000 `25,00,000 (w.e.f. 6 July, 2009) `500 `5,000 and in multiples of 1/- thereafter `5,000 and in multiples of 1/- thereafter `5,000 and in multiples of 1/- thereafter `5,000 and in multiples of 1/- thereafter `5,000 and in multiples of 10/- thereafter. `5,000 and in multiples of 10/- thereafter. Additional Investment Amount `1/- `500/- `1/- `500/- `1/- ` 1/- ` 1/- ` 1/- NA NA Entry Load Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Exit Load Exit Load for all Nil Plan A & Plan B : investment including 0.25% if redeemed SIP/Micro SIP/STP within 30 days from shall be 1.00% of the the date of purchase. (w.e.f. 12 Oct, 2009) applicable NAV if redeemed /switched out within seven days from the date of allotment. (w.e.f Jan 14, 2011) Nil (w.e.f. 4 Sep,2009) 1.50% if redeemed before 18 months from the date of investment. 1.50% if redeemed before 18 months from the date of investment. 1.50% if redeemed before 18 months from the date of investment. 1% of the NAV shall be Nil applicable if investors who redeem/switch out such investments within one year (365 Days) from the date of subscription applying First in First Out basis, (including investments through SIP/STP).Noload shall be applicable for switches between options of the schemes. (w.e.f 7 Jan 2011) Nil Options Available Growth & Dividend Reinvestment facility is available under the Dividend Option Growth & Dividend Growth, Dividend & Reinvestment facility is Dividend Sweep available under the (w.e.f. 16-Nov-2009) Dividend Option Growth, Dividend Growth, Dividend & (payout & reinvestment) Growth, Dividend & (payout & reinvestment) Growth, Dividend & (payout & reinvestment) Growth, Dividend & (payout, reinvestment & auto sweep) Growth & Dividend Growth & Dividend Dividend Frequency Dividend Re-investment At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV SIP (MinimumAmount) `500/- `500/- NA NA `1,000/- `1,000/- `1,000/- `1,000/- NA NA SIP Frequency Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly NA NA Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly NA NA SIP DatesWeekly Fortnightly Monthly 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month NA NA 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month NA NA Lock in Period Nil N 3 Years Nil Nil Nil Nil Nil Nil Nil Nil Face Value (`/Unit) `10/- ` `10/- `10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- NAV Frequency All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days Benchmark S&P CNX Nifty Index BSE 200 Crisil Liquid Fund Index BSE 200 Crisil Balanced Fund Index Crisil MIP Blended Index Crisil MIP Blended Index Crisil MIP Blended Index Crisil MIP Blended Index Crisil MIP Blended Index 54

56 Debt Snap Shot IDFC Cash Fund IDFC Money Manager Fund - Treasury Plan IDFC Money Manager Fund - Investment Plan IDFC Saving Advantage Fund IDFC Super Saver Income Fund - Short Term Plan IDFC Ultra Short Term Fund Nature Open-ended Liquid Fund Open-ended Income Fund Open-ended Income Fund Open Ended - Income Scheme Open-ended Income Fund Open-ended Income Fund Inception Date July 2, 2001 February 18, 2003 August 9, 2004 March 27, 2006 December 14, 2000 January 17, 2006 Investment Objective IDFC - CF is an open- ended liquid fund with an objective to generate optimal returns with high liquidity by investing in high quality money market and debt instruments. However, there can be no assurance that the investment objectives of the scheme will be realized. Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However, there can be no assurance that the investment objectives of the scheme will be realized. Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. To offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. There can be no assurance that the investment objective of the scheme will be realised. The primary investment objective of the scheme is to seek to generate stable returns with a low-risk strategy by creating a portfolio that is invested in good quality fixed income & Money Market securities. However, there can be no assurance that the investment objectives of the scheme will be realized. To offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. There can be no assurance that the investment objective of the scheme will be realised. Fund Manager Anupam Joshi Anupam Joshi Anupam Joshi Anupam Joshi Anupam Joshi Anupam Joshi Ideal Investment Horizon Minimum Investment Amount 1 Day or more 1 Day or more 1 Month or more 1 Month or more 6 Months or more 1 Month or more Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 1 Crore and in multiples of ` 1/- thereafter, Plan C: ` 5 Crores and in multiples ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 1 Crore and in multiples of ` 1/- thereafter, Plan C: ` 5 Crores and in multiples ` 1/- thereafter, Plan D: ` 25,000/- and in multiples of `1/- thereafter, Plan F: ` 5,000/- and in multiples of `1/- thereafter. Plan A: ` 5,000 and in multiples Plan A: ` 5,000 and in multiples of of ` 1/- thereafter, Plan B: ` 1 ` 1/- thereafter, Plan F: ` 10,000 Crore and in multiples of ` 1/- and in multiples of ` 1/- thereafter. thereafter, Plan F: ` 5,000 and thereafter.plan D: ` 500 and in in multiples ` 1/- thereafter, multiples of ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter, Plan C: ` 5 Crores and in multiples ` 1/- thereafter, Plan D: ` 5,000/- and in multiples of `1/- thereafter. Plan F: ` 5,000/- and in multiples of `1/- thereafter. `5,000 and in multiples of `1/- thereafter. Additional Investment Amount ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- Entry Load Nil Nil Nil Nil Nil Nil Exit Load Nil Plan A: Nil Plan B: Nil Plan C: Nil Plan D: Nil Plan E: Nil Plan A, Plan B & Plan F: Exit Load for all investment including SIP/Micro SIP/STP shall be 0.25% of the applicable NAV if redeemed / switched out within One Month from the date of allotment. (w.e.f 01 March, 2011) Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed / switched out within 91 days from the date of allotment. 0.50% of NAV on investors who purchase / switch in and seek to redeem / switch out such units within 6 months from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f 01 March, 2011) Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed /switched out within 45 days from the date of allotment. (w.e.f February 28, 2011) Options Available Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Growth, Dividend & Dividend Sweep Growth, Dividend & Dividend Sweep Growth & Dividend Dividend Sweep (w.e.f. 16 Nov 2009) Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Growth, Dividend & Dividend Sweep Dividend Frequency Daily, Weekly with Compulsory reinvestment, Periodic (in Plan B investment & Monthly Daily & Weekly with Compulsory re- only) and Monthly (in Plan C only) Daily & Weekly (with reinvest Daily &Weekly (with Compulsory facility in both plan A & plan B), re-investment) Monthly. Monthly, Quarterly & Annual. Fortnightly & Monthly Daily & Weekly (with Compulsory reinvestment) Monthly. Dividend Re-investment At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV SIP (MinimumAmount) NA ` 1,000/- Plan A: ` 1,000/- Plan A: ` 1,000/- Plan A: ` 1,000/- ` 1,000/- SIP Frequency NA Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly SIP DatesWeekly Fortnightly Monthly NA 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month Lock in Period Nil Nil Nil Nil Nil Nil Face Value (`/Unit) ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- NAV Frequency Daily All Business Days All Business Days All Business Days All Business Days All Business Days Benchmark Crisil Liquid Fund Index NSE MIBOR Index NSE MIBOR Index Crisil Liquid Fund Index (CLFI) CRISIL Short Term Bond Fund Index Crisil Liquid Fund Index (CLFI) 55

57 Debt Snap Shot IDFC Super Saver Income Fund - Medium Term Plan IDFC Super Saver Income Fund - Investment Plan IDFC Dynamic Bond Fund IDFC All Seasons Bond Fund IDFC Government Securities Fund - Provident Fund Plan IDFC Government Securities Fund - Investment Plan IDFC Government Securities Fund - Short Term Plan Nature Open-ended Income Fund Open-ended Income Fund Open-ended Income Fund Open-ended Fund of Funds Scheme Open Ended - Dedicated Gilt Fund Open Ended - Dedicated Gilt Fund Open Ended - Dedicated Gilt Fund Inception Date July 8, 2003 July 14, 2000 June 25, 2002 September 13, 2004 March 29, 2004 March 9, 2002 March 29, 2004 Investment Objective The primary investment objective of the scheme is to seek to generate stable returns with a low-risk strategy by creating a portfolio that is invested in good quality fixed income & Money Market securities. However, there can be no assurance that the investment objectives of the scheme will be realized. The primary investment objective of the scheme is to seek to generate stable returns with a low-risk strategy by creating a portfolio that is invested in good quality fixed income & Money Market securities. However, there can be no assurance that the investment objectives of the scheme will be realized. Seek to generate optimal returns with high liquidity by active management of the portfolio; by investing in high quality money market & debt instruments. However there can be no assurance that the investment objectives of the Scheme will be realized. Seek to generate optimal returns with Seek to generate optimal high liquidity by active management of returns with high liquidity by the portfolio by investing investing in Government predominantly in debt oriented mutual Securities. fund schemes and money market instruments. However, there can be no assurance that the investment objectives will be realized IDFC GSF -IP is an open ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC GSF -ST is an open ended dedicated giltscheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized.. Fund Manager Anupam Joshi Suyash Choudhary (w.e.f. 15 Oct 2010) Suyash Choudhary (w.e.f. 15 Oct 2010) Suyash Choudhary (w.e.f. 15 Oct 2010) Suyash Choudhary (w.e.f. 15 Oct 2010) Suyash Choudhary (w.e.f. 15 Oct 2010) Suyash Choudhary (w.e.f. 15 Oct 2010) Ideal Investment Horizon 6 Months or more 1 Year or more 1 Year or more 1 Year or more 1 Year or more 1 Year or more 30 days or more Minimum Investment Amount Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter, Plan F: ` 5,000 and in multiples of ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter, Plan C: ` 5 Crores and in multiples ` 1/- thereafter,plan F: ` 5,000 and in multiples of ` 1/- thereafter Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter. Plan A: ` 5,000 and in multiples of ` 1/- thereafter, Plan B: ` 25 Lacs and in multiples of ` 1/- thereafter. Additional Investment Amount ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- ` 1/- Entry Load Nil Nil Nil Nil Nil Nil Nil Exit Load Plan A, Plan B & Plan C : Plan A, Plan B, Plan C & Plan 0.50% if redeemed before 182 D: 1.00% if redeemed before days from the date of investment. 365 days from the date of investment. Plan A: Nil Plan B: Nil (w.e.f. 24 Aug 2009) Plan A: 0.75% if redeemed before 365 days from the date of investment. (w.e.f. 24 Aug 2009) Plan A & Plan B: 1.00% if redeemed before 365 days from the date of investment. (w.e.f. 24 Aug 2009) Plan A & Plan B: 1.00% if redeemed before 365 days from the date of investment. (w.e.f. 24 Aug 2009) Plan A & Plan B: 0.25% if redeemed before 30 days from the date of investment. (w.e.f. 24 Aug 2009) Options Available Growth, Dividend, Dividend Sweep & Dividend Payout & Reinvestment option Growth, Dividend & Dividend Sweep Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009) Dividend Frequency Daily, Bi - Monthly (once in two months) i.e. in the months of March, May, July, September, November & January, Fortnightly, Monthly& Quarterly (with reinvestment facility) (for Plan A) Monthly and Quarterly (with reinvestment) under Plan B Quarterly (March, June, September & December), Half Yearly (March & September) & Annual (March) Quarterly (March, June, September & December) & Annual (March) Quarterly, Half Yearly, Annual Quarterly (March, June, Quarterly / Half yearly / September & December) & Yearly Annual (March) Quarterly / Monthly Dividend Re-investment At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV At Ex-Dividend NAV SIP (MinimumAmount) Plan A: ` 1,000/- Plan A: ` 1,000/- Plan A: ` 1,000/- ` 1,000/- Plan A: ` 1,000/- Plan A: ` 1,000/- Plan A: ` 1,000/- SIP Frequency Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly Daily, Weekly, Fortnightly, Monthly SIP DatesWeekly Fortnightly Monthly 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month 7,14,21,28 1, 16 Any day of Month Lock in Period Nil Nil Nil Nil Nil Nil Nil Face Value (`/Unit) ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- ` 10/- NAV Frequency All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days All Business Days Benchmark CRISIL Short Term Bond Fund Index CRISIL Composite Bond Fund Index CRISIL Composite Bond Fund Index CRISIL Composite Bond Fund Index ISEC Composite Index ISEC Composite Index ISEC Composite Index 56

58 Methodology of Ranking Value Research Value Research Fund s are a composite measure of historical risk-adjusted returns. In the case of equity and hybrid funds this rating is based on the weighted average monthly returns for the last 3 and 5-year periods. In the case of debt funds this rating is based on the weighted average weekly returns for the last 18 months and 3-year periods and in case of short-term debt funds - weekly returns for the last 18 months. These ratings do not take into consideration any entry or exit load. Each category must have a minimum of 10 funds for it to be rated. Effective, July 2008, we have put an additional qualifying criteria, whereby a fund with less than Rs 5 crore of average AUM in the past six months will not be eligible for rating. Five-stars indicate that a fund is in the top 10% of its category in terms of historical risk-adjusted returns. Four stars indicate that a fund is in the next 22.5%, middle 35% receive three stars, the next 22.5% are assigned two stars while the bottom 10% receive one star. The number of schemes in each category is mentioned along side the categories name. Equity: Large Cap (35), Equity: Large & Mid Cap (57), Equity: Multi Cap (45), Equity: Mid & Small Cap (54) Equity: Tax Planning (28), Equity: Infrastructure (18), Hybrid: Equity-oriented (25), Hybrid: Debt-oriented Aggressive (11), Hybrid: Debt-oriented Conservative (43), Hybrid: Arbitrage (14) Debt: Income (54), Debt: Gilt Medium & Long Term (31), Debt: Gilt Short Term (10), Debt: Short Term (23), Debt: Ultra Short Term (126), Debt: Liquid (94). These Fund s are as on February 28, The Value Research s are published in Monthly Mutual Fund Performance Report and Mutual Fund Insight. The s are subject to change every month. The is based on primary data provided by respective funds, Value Research does not guarantee the accuracy. ICRA Mutual Fund Awards Disclaimer IDFC Premier Equity Fund Plan A has been ranked as a Seven Star Fund in the category of 'Open Ended Equity Diversified - Defensive' schemes for its 3 years performance till December 31, The rank is an outcome of an objective and comparative analysis against various parameters, including: risk adjusted return, fund size, company concentration and liquidity. The ranking methodology did not take into account entry and exit loads imposed by the Fund. There were 81 schemes considered in 'Open Ended Equity Diversified - Defensive' category for the ranking exercise. The rank is neither a certificate of statutory compliance nor any guarantee on the future performance of IDFC Premier Equity Fund Plan A. Ranking Source & Publisher: ICRA Online Limited ICRA Credit Risk IDFC Money Manager Fund - Treasury Plan: Credit Risk mfaaa - The Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category. IDFC Money Manager Fund Investment Plan: Credit Risk mfaaa - The Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category. IDFC Cash Fund: Credit Risk mfa1+ - 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 highest-credit-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. IDFC Super Saver Income Fund - Short Term Plan: Credit Risk mfaaa - The Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category. Source: ICRA Ltd. CRISIL Credit Quality IDFC Super Saver Income Fund - Investment Plan: Credit Quality AAAf - The assigned rating AAAf is valid only for IDFC Super Saver Income Fund - Investment Plan. The rating of CRISIL is not an opinion on the Asset Management Company s willingness or ability to make timely payments to the investor. The rating is also not an opinion on the stability of the NAV of the Fund, which could vary with market developments. CRISIL Credit Quality Methodology CRISIL's credit quality ratings are based on the analysis of the credit risk of securities held by the fund. CRISIL has developed a Credit Quality Matrix to evaluate fund s overall level of protection against losses associated with credit default. The matrix is a set of credit factors and credit scores derived scientifically from CRISIL s rating default and transition rates. Morningstar This Morningstar-sourced information is provided to you by IDFC AMC and is at your own risk. Morningstar is not responsible for any damages or losses arising from any use of this information. Also, this information must not be relied upon without appropriate verification. IDFC AMC informs you as follows: (i) no investment decision should be made in relation to any of the information provided other than on the advice of a professional financial advisor; (ii) past performance is no guarantee of future results; and (iii) the value and income derived from investments can go down as well as up. The Morningstar fund rating methodology is based on a fund's risk-adjusted return within a given Morningstar category. Morningstar ratings are calculated every month for the 3 year, 5 year and 10 year period. Within each rating period, the top 10% funds receive a five star rating, the next 22.5% earn a four star rating, the next 35% get three stars, the next 22.5% receive two stars, and the bottom 10% get one star. Loads are not considered for the rating purpose. The rating is based on NAV provided by respective funds. The current fund rating is for the 3 year period as of December 31, IDFC Imperial Equity Fund Growth has been rated 5-Star fund in the category of Large Cap schemes (342 Schemes), IDFC Premier Equity Fund Growth has been rated 5-Star fund in the category of Small/Mid Cap schemes, IDFC Dynamic Bond Fund Growth has been rated 5-Star fund in the category of Intermediate Bond schemes (174 Schemes), IDFC Savings Advantage Fund Growth has been rated 4-Star fund in the category of Liquid schemes (366 Schemes), IDFC Gov Sec PF Fund Growth has been rated 4-Star fund in the category of Intermediate Government schemes (77 Schemes), IDFC SS Inc M/T Fund Growth has been rated 4-Star fund in the category of Short-term Bond schemes, IDFC MMF IP Fund Growth has been rated 4-Star fund in the category of Ultra Short Term Bond schemes (391 Schemes), IDFC SS Inc IP Fund Growth has been rated 4-Star fund in the category of Intermediate Bond schemes (171 Schemes). Lipper Fund Awards, India, 2010 IDFC Premier Equity Fund Plan A Methodology Classification averages are calculated with all eligible share classes for each eligible classification. The calculation periods extend over 36, 60, and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five, or ten years. There were 189 funds under the category - Global classification. The lowest average decile1 rank of the three years Consistent Return measure of the eligible funds per asset class and group will determine the asset class group award winner over the threeyear period. In cases of identical results the lower average percentile rank will determine the winner. The decile ranking is obtained by the percentile ranking according to the formula: INT(((( Percentile Rank 1 ) * ( )) / 10 ) +1 ). Disclaimer Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user s own risk. This is not an offer to buy or sell securities. 57

59 Risk Factors Risk Factors: Mutual Funds and securities investments are subject to market risks, reinvestment risk, changes in political, economic environment and government policy and there is no assurance or guarantee that the objectives of the Scheme/s will be achieved. The NAV /s can go up or down depending on factors and forces affecting the Securities Market including fluctuation in interest rates, trading volumes and reinvestment risk. Past performance of the Sponsor/AMC/Mutual Fund is not necessarily indicative of the future performance /s and may not necessarily provide a basis for comparison with other investments. IDFC Classic Equity Fund (IDFC - CEF), IDFC Imperial Equity Fund (IDFC - IEF), IDFC Nifty Fund (IDFC NF), IDFC Premier Equity Fund (IDFC - PEF), IDFC Arbitrage Fund (IDFC - AF), IDFC Equity Fund (IDFC - EF),IDFC Tax Saver (ELSS) Fund(IDFC TS[ELSS]), IDFC Arbitrage Plus Fund (IDFC - APF), IDFC Small & Midcap Equity (SME) Fund (IDFC - SMEF), IDFC Strategic Sector (50-50) Equity Fund IDFC-SS (50-50)-EF, IDFC Tax Advantage (ELSS) Fund (IDFC TA-ELSS), IDFC India GDP Growth Fund (IDFC-IGGF), IDFC Super Saver Income Fund - Investment Plan (IDFC - SSIF-IP), IDFC Dynamic Bond Fund (IDFC - DBF), IDFC Super Saver Income Fund - Medium Term (IDFC-SSIF-MT), IDFC Super Saver Income Fund - Short Term (IDFC-SSIF-ST), IDFC Cash Fund (IDFC-CF), IDFC Ultra short term Fund (IDFC-USTF), IDFC Savings Advantage Fund (IDFC-SAF), IDFC Money Manager Fund - Treasury Plan (IDFC-MMF-TP), IDFC Money Manager Fund - Investment Plan(IDFC MMF-IP), IDFC Government Securities Fund - Investment Plan (IDFC-GSF-IP), IDFC Government Securities Fund Short Term Plan (IDFC-GSF-ST), IDFC Government Securities Fund Provident Fund Plan (IDFC-GSF-PF), IDFC All Seasons Bond Fund (IDFC-ASBF), IDFC Fund Aggressive Plan (IDFC-AAF-AP) IDFC Fund Conservative Plan (IDFC-AAF-CP), IDFC Fund Moderate Plan (IDFC-AAF-MP), IDFC Fixed Maturity Plan- Hybrid Fund Series 1,IDFC Monthly Income Plan( IDFC MIP), IDFC Fixed Maturity Plan- Capital Protection Fund Series I, IDFC Fixed Maturity Plan- Capital Protection Fund Series II,, IDFC Fixed Maturity Plan- Capital Protection Fund Series III, IDFC Savings Scheme Series 1, IDFC Fixed Maturity Plan Thirteen Months Series 5 (IDFC-FMP - TMS-5), IDFC Fixed Maturity Plan Sixteen Months Series 3 (IDFC-FMP - SMS-3), IDFC Fixed Maturity Plan Seventeen Months Series 1 (IDFC-FMP-SMS-1), IDFC Fixed Maturity Plan-Yearly series 32 (IDFC- FMP-YS-32), IDFC Fixed Maturity Plan-Yearly series 33 (IDFC-FMP-YS-33), IDFC Fixed Maturity Plan-Yearly series 34 (IDFC-FMP-YS-34), IDFC Fixed Maturity Plan-Yearly series 35 (IDFC-FMP-YS-35), IDFC Fixed Maturity Plan-Yearly series 36 (IDFC-FMP-YS-36), IDFC Fixed Maturity Plan-Yearly series 37 (IDFC-FMP-YS-37), IDFC Fixed Maturity Plan-Yearly series 38 (IDFC-FMP-YS-38), IDFC Fixed Maturity Plan-Yearly series 39 (IDFC-FMP-YS-39), IDFC Fixed Maturity Plan-Fourteen Months series 1 (IDFC-FMP-FMS-1), IDFC Fixed Maturity Plan-Quarterly series 61(IDFC-FMP-QS-61), IDFC Fixed Maturity Plan-Quarterly series 62 (IDFC-FMP-QS-62), IDFC Fixed Maturity Plan- 100 days Series-1 (IDFC FMP -100DS-1), IDFC Fixed Maturity Half Yearly Series 12 (IDFC-FMP-HYS12), IDFC Fixed Maturity Eighteen Months Series 7 (IDFC-FMP-EMS7) and IDFC Fixed Maturity Plan - Thirty-Six Months Series 2 (IDFC FMP 36mts 2) are names s and do not in any manner indicate either the quality s, their future prospects or returns. The Sponsor or any of its associates is not responsible or liable for any loss resulting from the operation s beyond the corpus of the Trust of Rs. 30,000/-. Terms of Issue & Load Structure: IDFC-CEF, IDFC-IEF, IDFC NF IDFC-PEF, IDFC-AF, IDFC - EF, IDFC TS[ELSS], IDFC-APF, IDFC-SMEF, IDFC-SS(50-50)-EF, IDFC TA( ELSS ), IDFC-IGGF, IDFC-SSIF (IP), IDFC-DBF, IDFC-SSIF (MT), IDFC-SSIF (ST), IDFC-CF, IDFC- USTF, IDFC-SAF, IDFC-MMF-TP,IDFC-MMF-IP, IDFC-GSF-IP, IDFC-GSF-ST, IDFC-GSF-PF, IDFC-ASBF, IDFC-AAF-AP IDFC-AAF-CP, IDFC-AAF-MP, IDFC-FMP HPS1, IDFC-MIP, IDFC CPOF I, IDFC CPOF II,IDFC CPOF III, IDFC SSS-1), IDFC-FMP - TMS-5, IDFC-FMP-SMS- 1,IDFC-FMP-YS-32, IDFC-FMP-YS-34, IDFC-FMP-FMS-3, IDFC-FMP-FMS-1,IDFC FMP-SMS-3,IDFC-FMP-QS-61 and IDFC-FMP-QS-62,IDFC-FMP-YS-33, IDFC-FMP-YS-35, IDFC-FMP-YS-36, IDFC-FMP-YS-37, IDFC-FMP-YS-38, IDFC-FMP-YS-39, IDFC FMP 100 DS - 1,IDFC-FMP-HYS12, IDFC-FMP-EMS7 and IDFC FMP 36mts 2: During the continuous offer the AMC calculates and publishes NAVs and offers for sale and redemption of units on all Business days. Entry Loads Nil for all the schemes. Exit Load - For all the equity schemes (other than IDFC Arbitrage Fund, IDFC Arbitrage Plus Fund and ELSS Schemes of IDFC) : All investment including SIP/STP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment-1%. No Entry Load/ Exit Loads/CDSC shall be chargeable in case of switches made between different options of the scheme. IDFC-AF - (Plan A & Plan B): is an Open Ended Equity scheme. 0.25% if redemption / switch is requested within 30 days from the date purchase during on going period.idfc Tax Saver (ELSS) Fund: Nil. IDFC-APF - (Plan A& Plan B): 0.50% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. IDFC-SMEF: The scheme is converted into open ended scheme w.e.f. September 11, After then during the Ongoing Offer Period load will be charged as follows: If redeemed within 1 year from the date of purchase(s) applying First in First out basis (including purchase made through the STP/SIP) -1.00%.No exit load /CDSC will be chargeable in case of switches made between different options of the schemes IDFC Tax Advantage (ELSS) Fund: Nil. India IDFC-SSIF Investment Plan (IP) Plan A Plan B, plan C & Plan F - 1% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC DBF (Plan A & Plan B):-Nil, IDFC-SSIF Medium Term Plan (MT) Plan A, Plan B& Plan F: 0.50% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 182 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC-SSIF Short Term Plan (ST) Plan A, B, C, D & F: Exit Load for all investment including SIP/Micro SIP/STP shall be 0.50% of the applicable NAV if redeemed /switched out within 3 months from the date of allotment. IDFC CF Plan A & Plan B; Nil. IDFC Ultra Short Term: Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed /switched out within 31 days from the date of allotment. IDFC Savings Advantage Fund (IDFC-SAF) (Plan A & Plan F) ; Exit Load for all investment including SIP/Micro SIP/STP shall be 0.25% of the applicable NAV if redeemed /switched out within 31 days from the date of allotment. IDFC MMF TP (Plan A, Plan B, Plan C, Plan D & Plan F) Nil, IDFC-MMF-IP-(Plan A, Plan B & Plan F): Exit Load for all investment including SIP/Micro SIP/STP shall be 0.25% of the applicable NAV if redeemed / switched out within one months from the date of allotment.idfc-gsf Investment Plan (IP) Plan A & Plan B - 1% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC-GSF Short Term Plan (ST) Plan A & Plan B 0.25% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 30 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC-GSF Provident Fund (PF) Plan A & Plan B - 1% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC NF Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed /switched out within seven days from the date of allotment. IDFC-ASBF % of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC-AAF-AP, IDFC-AAF-CP, and IDFC-AAF-MP: 1.50% of the NAV shall be applicable if investors who redeem / switch out such investments within months from the date of subscription applying First in First Out basis, (including investments through SIP/STP). Switches between Plans (within the scheme) shall not attract load. IDFC MIP: 1.00% of the NAV shall be applicable if investors who redeem / switch out such investments within 365 days from the date of subscription applying First in First Out basis, (including investments through SIP/STP). W.ef. January 07, 2011.No load shall be applicable for switches between between options of the schemes. The exit load/ CDSC of up to 1% of the redemption value charged to the unit holder by the Fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN Holder and to meet other marketing and selling expenses. Any amount in excess of 1% of the redemption value charged to the unit holder as exit load/ CDSC shall be credited to the respective scheme immediately. IDFC USTF: Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed /switched out within 45 days from the date of allotment. IDFC-FMP - TMS-5: Nil. IDFC-FMP-SMS-1: Nil. IDFC-FMP HPS1: Nil. IDFC CPOF I, IDFC CPOF II, IDFC CPOF III: Nil, IDFC SSS -1: NIL, IDFC-FMP-YS-32, IDFC-FMP-YS-33, IDFC-FMP-YS-34,IDFC-FMP-YS-35, IDFC-FMP-YS- 36, IDFC-FMP-YS-37, IDFC-FMP-YS-38, IDFC-FMP-YS-39: NIL.IDFC FMP-SMS- 3: NIL, IDFC-FMP-FMS-1: NIL, and IDFC-FMP-QS-61 & IDFC-FMP-QS-61:NIL. IDFC-FMP-HYS12 :NIL, IDFC-FMP-EMS7: NIL, IDFC FMP 100 DS- 1:NIL and IDFC FMP 36mts 2: NIL Investment Objective: IDFC CEF: The investment objective of the scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-IEF: The investment objective is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC-IEF: The investment objective is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC-PEF: The Scheme shall seek to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-AF & IDFC APF: The investment objective is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments 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. The recurring expenses of the scheme is in addition to the expenses of the schemes in which the Fund of Fund scheme makes investment.idfc-ef: The investment objective of the scheme is to seek to generate capital growth from a portfolio of predominantly equity and equity related instruments (Including Equity derivatives). The scheme may also invest in debt and money market instruments to generate reasonable income. However there is no assurance that the investment objective of the scheme will be realized. IDFC - TS [ELSS]: The investment objective is to seek to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities. There can be no assurance that the investment objective of the scheme will be realized IDFC-APF: The investment objective of the scheme is to generate income (absolute to low volatility returns) by taking advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies 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. IDFC-SMEF: The investment objective is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments. The Scheme will predominantly invest in small and midcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index. The Scheme may also invest in stock other than mid cap stocks (i.e. in stocks, which have a market capitalization of above the market capitalization range of the defined small midcap stocks) and derivatives. On defensive consideration, the Scheme may also invest in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-SS (50-50)-EF: The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity and Equity related instruments. The investment objective of the fund shall be achieved by investing up to fifty percent of the assets of the scheme in a chosen sector (sector specific exposure) while the balance amount may be invested in companies across market capitalizations and across sectors (diversified exposure). The scheme may also invest in debt and money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. IDFC TA (ELSS): The investment objective is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realized. IDFC IGGF: The investment objective of the scheme is seek to generate long term capital appreciation by investing in Equity and Equity related instruments. The scheme aims to capture the growth in India s Gross Domestic Product (GDP). The scheme would endevour to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in Debt and money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. IDFC - SSIF-IP: Seek to generate stable returns by creating a portfolio that is invested in good quality fixed income and money market securities.however there is no assurance that the investment objective of the scheme will be realized. IDFC NF: The investment objective of the scheme is to replicate the S&P CNX Nifty Index by investing in securities of the CNX Nifty Index in the same proportion/weigtage. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. IDFC DBF: Seek to generate optimal returns with high liquidity by active management of the portfolio; by investing in high quality money market & debt instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-SSIF-MT: Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-SSIF-ST: Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-CF: IDFC-CF is an open-ended liquid fund with an objective to generate optimal returns with high liquidity by investing in high quality money market and debt instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-USTF: To offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. There can be no assurance that the investment objective of the scheme will be realized. IDFC-SAF: To offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. There can be no assurance that the investment objective of the scheme will be realized. IDFC-MMF-TP& IDFC-MMF-IP: Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-GSF-IP: IDFC GSF -IP is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-GSF-ST: IDFC-GSF-ST is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-GSF-PF: Seek to generate optimal returns with high liquidity by investing in government securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-ASBF: Seek to generate optimal returns with high liquidity by active management of the portfolio, by investing predominantly in debt oriented mutual fund schemes and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-AAF-AP, IDFC- AAF-CP, and IDFC-AAF-MP: The primary objective of Scheme is to generate capital appreciation through investment in different mutual fund schemes primarily local funds based on a defined asset allocation model. However, there can be no assurance that the investment objective of the scheme will be realized. The recurring expenses of the scheme is in addition to the expenses of the schemes in which the Fund of Fund scheme makes investment. IDFC MIP: The primary objective of Scheme is to generate regular returns through investment primarily in debt oriented Mutual Fund schemes (such as Income and Liquid funds). The secondary objective is to generate long-term capital appreciation by investing a portion 's assets in equity oriented MF schemes. Monthly Income is not assumed and the same is subject to availability of distributable surplus. IDFC-FMP - TMS-5: The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC-FMP-SMS-1: The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the duration of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized IDFC-FMP HPS1: The scheme endeavors to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. There can be no assurance that the investment objective of the scheme will be realized. IDFC CPOF1, IDFC CPOF II, and IDFC CPOF III: The scheme endeavors to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. There can be no assurance that the investment objective of the scheme will be realized. IDFC SSS 1: The scheme endeavors to generate income by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. There can be no assurance that the investment objective of the scheme will be realized. IDFC-FMP-YS-32, IDFC-FMP-YS-33, IDFC-FMP-YS-34 and IDFC-FMP-YS-35: The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the duration of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC-FMP-FMS-1: The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the duration of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC-FMP-QS-61 and FMP-QS-62: The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the duration of the scheme. IDFC-FMP-HYS12,IDFC FMP-SMS-3 and IDFC-FMP-EMS7:The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC FMP 36mts 2: The investment objective is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized. IISL Disclaimer: S&P and Standard and Poor s are trademarks of the McGraw-hill Companies, Inc. ( S&P ), and have been licensed for use by India Index Services & Products Limited in connection with the S&P CNX Nifty Index. The Product is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL") or Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P"). Neither IISL nor S&P makes any representation or warranty, express or implied, to the owners of the Product or any member of the public regarding the advisability of investing in securities generally or in the Product. Please read the full Disclaimers in relation to the S&P CNX Nifty Index in the Offer Document / Prospectus / Information Statement." Statutory Details: IDFC Mutual Fund has been set up as a trust by Infrastructure Development Finance Company Limited (IDFC) (liability restricted to corpus of Trust of Rs. 30,000) with IDFC AMC Trustee Company Ltd as the trustee and IDFC Asset Management Company Ltd as the investment manager. Investors in the scheme(s) are not being offered any guaranteed or assured rate of return. Copy of Scheme Information Document and Key Information Memorandum along with application form for all the schemes may be obtained from the office of IDFC Mutual Fund, One India Bulls Centre, 841, Jupiter Mills Compound, Senapati Bapat Marg,, Elphinstone Road, (West), Mumbai Contact for details. For details please read the respective Scheme Information Document (SID) (including those of FMPs)/ Offer Document (OD) / Statement of Additional Information (SAI) carefully before investing. 58

60 A rejection can cost you dear! Rejection is not something most of us take lightly, be it in any walk of life. The same holds true while investing. Our records point out that most of the rejected applications are for the simple reason of oversight. Most of the times it is the inconsistency in entering the data, that proves to be the stumbling block. REJECTE D And what does it result in? You stand not only to lose the time & effort, but also the investing opportunity because sometimes the financial markets don t wait for you to correct the mistakes. Important Tips to ensure successful SIP.?????????? You need to fill 2 forms. a) Common Application Form ( CAF ) and b) SIP Forms. The SIP start date and End date should tally in the CAF and SIP Form. The SIP Frequency should be the same across all forms. The Scheme Name and the SIP amount should tally in both forms. Mandatory to state the 9 digit MICR code. It is on the basis of this that your bank account is correctly debited. Your signature is needed in 2 places in the Mandate Form for ECS viz. below the Signatures section & Authorization of the Bank Account Holder. Please do submit a copy of the cheque along with the Mandate form for ECS at the time of subscription. In case you change your bank account no, please do let us know else your SIP will be rejected. Please keep sufficient balance in your bank account on SIP due date. In case of any overwriting in the ECS/ Standing Instruction Form, please ensure the same is authenticated by your Signature. In case of Payable at par cheques, please check with your bank for the branch MICR code. Note: Form #2 (HDFC/ SCB Standing Instructions) & Form #3 (Mandate Form for ECS) will be sent to your bank to process your request. Therefore, it is essential that you update all your information correctly to avoid your request being rejected by your bank. Please Turn Overleaf for Contact Details. 29

61 IDFC AMC Offices WEST Ahmedabad : Ground Floor, Zodiac Avenue, Opp. Mayor s Bunglow, Near Law Garden, Ahmedabad Tel.: / Goa : Advani Bussiness Centre, Neelkamal Arcade, A. B. Road, Panjim, Goa Tel.: , Fax: Mobile: Indore : 405, 4th Floor, 21/ 1, D. M. Tower, Race Course Road, Indore Tel.: / Fax: Mumbai : 17/18, 3rd Floor, Vasvani Mansion, 120, Dinshaw Vachha Road, Opp. K. C. College, Churchgate, Mumbai Tel.: Mumbai (Thane) : Shop 25, Rajdeep Society, Gokhale Road, Opp. Income Tax Office, Thane (West) Nagpur : Fortune Business Centre, First Floor, 6, VasantVihar, W. H. C. Rd., Shankar Nagar, Nagpur Tel.: / Nashik : Kavita Complex, 2nd Floor, Madan Services, Near Big Bazar, College Road, Nasik Mobile: Pune : 1st Floor, Dr. Herekar Park Building, Next to Kamala Nehru Park, Off. Bhandarkar Road, Pune Tel.: / 4. Raipur : , 2nd Floor, Lalganga Shopping Mall, G. E. Road, Raipur Mobile: Rajkot : Star Plaza, 2nd Floor, Office 201, Phulchab Chowk, Rajkot Tel.: Surat : U 15/16, Jolly Plaza, Athvagate, Surat Tel.: , Vadodara : Ground Floor, Akash Ganga Complex, Adjacent to Vanijya Bhavan, Race Course Circle, Vadodara Tel.: / 39. NORTH Agra : Amritsar : 6-FUF, 4th Floor, Central Mall, 32, Mall Road, Amritsar Mobile: , Tel.: Chandigarh : SCO , 1st Floor, Sector 22, Chandigarh Tel.: / 19/ 21/ 22, Fax: Dehradun : C/o. EBD BUSINESS CENTRE, Cubicle 3, 49, Rajpur Road, Dehradun Tel.: Jaipur : G-7, G-8, Anukampa Towers, Church Road, Jaipur Tel.: , Jalandhar : 1st floor, Satnam Complex, BMC Chowk, G.T.Road, Jalandhar Punjab-India. Tel.: / / 88. Kanpur : Office , IInd Floor, KAN Chambers, 14/113, Civil Lines, Kanpur Tel.: , Lucknow : Flat 2, 1st Floor, SAS House, 6B, Tej Bhadur Sapru Marg, Lucknow Tel.: / 01/ 02/ 03/ 04/ 05.Fax: Ludhiana : SCO 122, 2nd Floor, Feroze Gandhi Market, Ludhiana Tel.: , Moradabad : New Delhi : 4th Floor, NarainManzil, 23, Barakhamba Road, New Delhi Tel.: / 02/ 03/ 04/ 05. Varanasi : SOUTH Bangalore : 6th Floor, East Wing, Raheja Towers, #26 & 27, M. G. Road, Bangalore Tel.: / 05/ 06. Chennai : KRM Tower, 8th floor, 1, Harrington Road, Chetpet, Chennai Tel.: / 202. Cochin : 39/3993 B2, Gr. Floor, Vantage Point, VRM Rd, Ravipuram, Cochin Tel: / , Fax: Coimbatore : Red Rose Plaza, 509 H, II Floor, D. B. Road, R. S. Puram, Coimbatore Tel.: , Hyderabad : 4th Floor, Central Plaza, # /A, Raj Bhavan Road, Somajiguda, Hyderabad Tel.: / 47, Fax: Madurai : Shop No 9, 2nd Floor, Ram Niwas, Door 279, Goodshed Street, Madurai , Tel.: Mangalore : Raj Business Centre, 3rd Floor, Raj Towers, Balmatta Road, Manglore Tel. : Trivandrum : Cabin 502, 5th Floor, Karimpanal Statue Avenue, G.H.Road, Statue, TRIVANDRUM (Contact : Raj Narayanan ) Visakhapatnam :Visakha Executive Centre, /5, Eswar Arcade, Dwarakanagar,1st Lane, Visakhapatnam , Tel.: EAST Bhubaneswar : Shop 208, 2nd Floor, Janpath Tower, Ashok Nagar, Bhubaneswar Guwahati : 4E, 4th Floor, Ganapati Enclave, G. S. Road, Ulubari, Opp. Bora Service Station, Guwahati Mobile: Jamshedpur : Room No 111, Ist Floor, Yash Kamal Complex, Main Road, Bishtupur, Jamshedpur Mobile Kolkata : Oswal Chambers, 1st Floor, 2 Church Lane, Kolkata Tel.: / Patna : 406, AshianaHariniwas, New Dakbanglow Road, Patna Tel.: