Investment update December 2016

Transcription

1 Investment update December 2016

2 Equity Fund Index From the Managing or s Desk Market Overview Equity Schemes Snapshot How to read Factsheet SBI Blue Chip Fund SBI Magnum Balanced Fund SBI Magnum Global Fund SBI Magnum MidCap Fund SBI Magnum Equity Fund SBI Magnum Taxgain Scheme SBI Emerging Businesses Fund SBI FMCG Fund SBI Pharma Fund SBI IT Fund SBI Contra Fund SBI Magnum Multicap Fund SBI Magnum Multiplier Fund SBI Nifty Index Fund SBI Magnum Comma Fund SBI PSU Fund SBI Infrastructure Fund SBI Arbitrage Opportunities Fund SBI Small & Midcap Fund SBI Banking And Financial Services Fund SBI Gold Fund SBI Equity Savings Fund

3 Debt Fund Index Debt and Liquid Schemes Snapshot SBI Ultra Short Term Debt Fund SBI Short Term Debt Fund SBI Magnum Monthly Income Plan SBI Premier Liquid Fund SBI Magnum Children' Benefit Plan SBI Magnum Income Fund SBI Magnum Gilt Fund Short Term Plan SBI Magnum Gilt Fund Long Term Plan SBI Magnum Monthly Income Plan Floater SBI Savings Fund SBI Dynamic Bond Fund SBI Corporate Bond Fund SBI Magnum InstaCash Fund SBI Magnum InstaCash Fund Liquid Floater SBI Treasury Advantage Fund SBI Dynamic Asset Allocation Fund Comparative Performance for all Schemes Systematic Investment Plan () Total Expense Ratios Disclaimer SBI Funds Management Pvt Ltd Branches History of Debt Funds

4 BALANCE FUND

5 From the Managing or s Desk Smt Anuradha Rao MD & CEO Dear Friends, The US Elections and Demonetization dominated the news in November with uncertainties around the impact of these two events, globally and domestically. The markets plunged as both of these events happened simultaneously on November 8 with the benchmarks retreating further due to the political deadlock in the winter session of Parliament. The Government and RBI continue to work in tandem to ensure measures are taken to ease any inconveniences to people and businesses at large. However markets are surely to be tested again as the effects of demonetisation are yet to be realised completely. It also remains to be seen what happens to the crucial GST Bill amidst these uncertainties. Mutual Funds saw these corrections as opportunities and continued to step up buying, investing over Rs. 13,000 crore in in equities in the past month. Retail investors continue to repose faith in mutual funds especially equity-based funds which continue to see an increase in inflows. The recent turn of events also presents an opportunity for us as asset managers to highlight the benefits of mutual funds as an investment option for all needs. One gets a range of options with mutual funds; from equity-based funds which can be used to create long term wealth to debt-based funds for short-term needs. Those who have deposited cash in banks should be looking to do more with their money. Merely by keeping money in bank saving accounts, they miss out on the opportunities which liquid/short-term mutual funds present in terms of better returns and tax efficiency. At SBI MF we are positioning our funds in the liquid/cash category as an alternate savings instrument. With fall in deposit rates, investors can use these funds to park their idle money in savings account to generate relatively better returns. Demonetization has also 1

6 brought in new account holders in the banking system, and in turn a large number of first time tax payers. ELSS funds could be a good option for them to save on their taxes and at the same time invest to create wealth through equity. We are ensuring all our digital assets like our investor app, SBI Savings Fund app are effectively used so that we are able to reach out better, and make convenient investing possible, for potential investors. At SBI MF, we have communicated with all our partners on the need to guide their clients into choosing the best wealth creating options for their money. Our new investor awareness campaign Ready.Steady.Grow! specifically communicates that mutual funds are also the better investment option which provide an opportunity to make more money. The world is becoming digital and SBIMF is taking big strides in providing digital solutions to investors and partners. Our InvesTap app provides our investors the convenience to manage their investments on the go. Our SBI Savings Fund app is the first fund specific app in the industry and can be used by investors to park their idle money with just click of a button. The SBIMF Partner app is helping our partners take proper control of their business and grow it further. We have launched our new website with focus on customer engagement, social integration and knowledge transmission. Going ahead we will be introducing many more digital initiatives which will enhance customer (investor and partners) experience with SBI Mutual Fund. As always, we value your investments and look forward to your continued patronage. Warm Regards, Smt Anuradha Rao Managing or & Chief Executive Officer 2

7 Market Overview Navneet Munot ED & CIO Indian markets witnessed a fall partly due to emerging markets sell-off after Donald Trump s victory and announcement of demonetization of high value notes by the Indian Government. Trump s election in US has strengthened market expectations of rate hikes in US, and the shift of growth mantle from monetary policy to fiscal policy. We had been increasingly getting skeptical of incremental efficacy of global monetary easing. The money-pumping exercise had been leading to asset prices reflation but without a commensurate impact on real economy. Stagnant real incomes and rising income and wealth inequality in developed market led to increased discontentment among the population at large. There are fears that the best of globalization cycle and liberal policies is behind us. Over the last two months, dollar has strengthened and bond yields across the globe including in emerging markets have risen sharply. India has been an exception to see bond yields falling massively. This has narrowed down India s interest differential vis-à-vis similar US treasury papers by at least 100 bps in last three months. Thus, Indian rupee, which has been a story of high carry and low volatility, will see some loss of attractiveness on the former. That said, RBI has the war-chest of $ 360 billion to contain volatility. In fact, while rupee depicted marginal depreciation against dollar, it strengthened against its trading partners in last three years. Given the depreciation in other emerging market currencies, rising crude prices and strengthening dollar, rupee has the potential to weaken further. To gauge the impact of demonetization on growth, one needs to distinguish between liquidity, wealth, and income effect. Loss of demand due to liquidity effect or as one would put it unavailability of adequate quantum of rupee notes would be transient and can be recouped to a large extent. Withdrawal of Specified Banking Notes from the system has also led to erosion of wealth for higher income sections of the society and to that extent may permanently impact the sectors which profoundly depend on demand from high income group. That said, in aggregate, the wealth effect might cancel itself in aggregate since one section of society would gain at the expense of the other. At last, consumption lost because of underlying incomes taking a hit may not necessarily be recouped. That said, the demonetization coupled with GST and other measures to improve India s governance are structurally positive for Indian growth story. While the stated objectives of withdrawing Specified banking Notes (SBNs) was to curb the fake currency generation which fund host of illegal activities (like terrorism) and black money in India, the exercise has had untended consequences to the Indian political, social and economic machinery. Apart from disrupting the business activity, it led to constrained consumption and potential balance sheet issues for household and businesses. We are into an uncharted territory and the clarity of future policy decisions has been marred, which makes the businesses postpone their investment decisions. Some of the sectors such as high end discretionary goods and services and real estate could be hit due to wealth effect. While government finances may benefit from better tax compliance, there could be adverse effect on indirect tax collections due to growth slowdown apart from the cost of this exercise to RBI and the government. 3

8 The RBI has clearly opined that the cancellation of legal tender status of SBN (specified bank notes) does not automatically cancel RBI s liability. This may nullify the hope of any near-term one time dividend transfer acting as a one-time fiscal bounty for the Government. Though (for longer-term), we refrain from concluding on that with certainty, as yet. The demonetization exercise has significantly catalyzed the vision of the policy makers to achieve financial inclusion, lower cash utilization for transactional purposes (a move towards cashless economy ) and to move the households towards financial products for savings (financialisation of savings). These achievements enhance the operational and cost productivity of the economy which may not be captured in linear projections of demand and supply. Better tax-compliance and increased government revenue on sustainable basis can boost the infrastructure investment by the government. Move towards a cashless economy will ensure lower cost and traceability of transactions and detecting the discrepancies between a person s actual income and his/her transactions. All said and done, longer-term gains depend on follow-up reforms. The present move of demonetization has laid its axe on the stock of blackwealth. The measure alone does not deal with the generation process of black money. This is a long drawn battle and the present government seems to be determined notwithstanding the near term pain. In the equity markets, Sensex is down 3% since 8th November. Performance down the capitalization curve worsened with the BSE Midcap index and the BSE Smallcap index underperforming the large cap Sensex by 2.8% and 4.5%, respectively. FIIs sold US$ 2 billion which was well-matched with significantly higher buying by domestic institutions. Valuations have corrected and are currently hovering at its long-term average of 16 times forward earnings. The demonetization impact might sustain for more than a quarter or two but given that there are too many moving parts, its bit too early to call. While the disruption in economic activity particularly on discretionary consumption may drive sentiments, one must not lose sight of the fact that a good part of index earnings (Technology, healthcare, energy, staples, telecom, global commodities etc) may remain largely insulated. Barring the risk of a deeper slowdown leading to systemic balance sheet issues, Digitalisation of finance and financialisation of savings actually augur very well for financials (almost 30% of index). While the demand weakness in India and improved agricultural supply lifts off some pressure from inflation, rupee depreciation and rising commodity prices leads to imported inflation in India. Also, as the governor pointed out, India s inflation ex-food and fuel has been persistently sticky. Expectations of likely rural support by the government (in the form of higher MSPs or other income support measures), implementation of 7th Pay commission by the states and decision on HRA aspects of the pay commission may add to the inflation pressure in the ensuing year. We sympathize with the predicament of the central bank which is bound by its inflation and currency stability objectives but cannot turn blind-eye to growth disruptions. Impossible trinity at its true test! In the bond market, given that market pricing prior to the policy seemed aggressive and could be justified only with a 50bps cut, we had reduced average duration across funds before the monetary policy. Exuberance driven by easier near term liquidity and hopes of policy easing have led to domestic yields getting disconnected from global trends. Yields have moved up by about bps across the curve from the recent lows. Markets could remain volatile leading into the US Fed meeting. We remain constructive, but with a slightly longer term approach as the monetary cycle remains accommodative and fiscal health is likely to improve structurally. Navneet Munot Executive or & CIO -SBI Funds Management Private Limited 4

9 EQUITY SCHEMES SNAPSHOT Fund Name SBI Magnum Balanced Fund SBI Magnum Taxgain Scheme SBI Magnum Multicap Fund SBI Magnum Equity Fund SBI Nifty Index Fund (Previously known as SBI Magnum Index Fund) SBI Magnum Multiplier Fund (Previously known as SBI Magnum Multiplier Plus Scheme) SBI Blue Chip Fund SBI Contra Fund (Previously known as SBI MSFU - Contra Fund) SBI Emerging Businesses Fund (Previously known as SBI MSFU - Emerging Businesses Fund) SBI FMCG Fund (Previously known as SBI MSFU - FMCG Fund) Type of the Scheme Allotment Date An Open-ended Balanced Scheme 31/12/1995 An Openended Equity Linked Savings Scheme 31/03/1993 An Open-ended Scheme 29/09/2005 An Open ended Equity Scheme 01/01/1991 An Open-ended Index Fund 17/01/2002 An Openended Equity Scheme 28/02/1993 An Openended Scheme 14/02/2006 An Open-ended Equity Fund 14/07/1999 An Openended Equity Fund 11/10/2004 An Openended Equity Fund 14/07/1999 Mr. R. Srinivasan Mr. Dinesh Ahuja Mr. Dinesh Balachandran Mr. Richard D'souza Mr. R. Srinivasan Mr. Raviprakash Sharma Mr. Saurabh Pant Ms. Sohini Andani Mr. R. Srinivasan Mr. R. Srinivasan Mr. Saurabh Pant Jan-2012 Sep-2016 Dec-2011 May-2009 Feb-2011 Sep-2016 Sep-2010 Jun-2011 May-2009 Jun-2011 Ideal Investment Horizon Minimum Investment Amount 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 500 & in multiples of ` Year + ` 1000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 3 Year + ` 5000 & in multiples of ` 1 Additional Investment Amount ` 1000 & in multiples of ` 1 ` 500 & in multiples of ` 500 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 ` 1000 & in multiples of ` 1 For exit within 12 months from the date of allotment: For 10% of investment - Nil For remaining investments %; For exit after 12 months from the date of allotment - Nil NIL For exit within 6 months from the date of allotment - 1%; For exit after 6 months but within one year from the date of allotment 0.50% For exit after one year from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil Nil For exit within 12 months from the date of allotment %; For exit after 12 months from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil For exit within 1 year from the date of allotment 1%; For exit after 1 year from the date of allotment Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil For exit within 15 days from the date of allotment %; For exit after 15 days from the date of allotment - Nil Available,,,,,,,,, (Minimum Amount) Weekly - Weekly & in & in multiples multiples of `1 of ` 500 thereafter for a thereafter for a minimum of 6 minimum of 6 Monthly - Monthly & in & in multiples multiples of ` of ` thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in multiples of ` 1 thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in multiples of ` 1 thereafter for minimum one year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in multiples of ` 1 thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in multiples of ` 1 thereafter for minimum one year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in multiples of ` 1 thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in multiples of ` 1 thereafter for minimum one year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in multiples of ` 1 thereafter for minimum one year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in multiples of ` 1 thereafter for minimum one year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in thereafter for year Dates Weekly Monthly Quarterly 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) CRISIL Balanced Fund - Aggressive Index S&P BSE 100 Index S&P BSE 500 Index Nifty 50 Index Nifty 50 Index S&P BSE 200 Index S&P BSE 100 Index S&P BSE 100 Index S&P BSE 500 Index S&P BSE Fast Moving Consumer Goods Index Please consult your financial advisor before investing. 5

10 EQUITY SCHEMES SNAPSHOT Fund Name SBI IT Fund SBI Pharma Fund SBI Magnum COMMA Fund SBI Magnum Global Fund SBI Magnum Midcap Fund SBI Arbitrage Opportunities Fund SBI Infrastructure Fund SBI PSU Fund SBI Small & Midcap Fund (Previously known as SBI MSFU - IT Fund) (Previously known as SBI MSFU - Pharma Fund) Fund invests in stocks of commodity based companies (Previously known as SBI Infrastructure Fund- Series 1) Type of the Scheme An Openended Equity Fund An Openended Equity Fund An Open-ended Equity Scheme An Open-ended Scheme An Open-ended Scheme An Open-ended Scheme An Open-ended Scheme An Open-ended Equity Fund An Open-ended Equity Scheme Allotment Date 14/07/ /07/ /08/ /09/ /03/ /11/ /07/ /07/ /09/2009 Mr. Anup Upadhyay Mr. Tanmaya Desai Mr. Richard D'souza Mr. R. Srinivasan Ms. Sohini Andani Mr. Neeraj Kumar Mr. Richard D'souza Mr. Richard D'souza Mr. R. Srinivasan Jun-2011 Jun-2011 Aug-2014 May-2009 July-2010 Oct-2012 Aug-2014 Aug-2014 Nov Ideal Investment Horizon 3 Year + 3 Year + 3 Year + 3 Year + 3 Year + 1 Year + 3 Year + 3 Year + 3 Year + Minimum Investment Amount ` 5000 & in ` 5000 & in ` 5000 & in ` 5000 & in ` 5000 & in ` 5000 & in ` 5000 & in ` 5000 & in NA Additional Investment Amount ` 1000 & in ` 1000 & in ` 1000 & in ` 1000 & in ` 1000 & in ` 1000 & in ` 1000 & in ` 1000 & in NA For exit within 15 days from the date of allotment %; For exit after 15 days from the date of allotment - Nil For exit within 15 days from the date of allotment %; For exit after 15 days from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil For exit within 12 months from the date of allotment %; For exit after 12 months from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil For exit within 1 month from the date of allotment %; For exit after 1 month from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil For exit within 1 year from the date of allotment - 1%; For exit after 1 year from the date of allotment - Nil Available,,,,,,,, (Minimum Amount) Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for minimum one year Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in multiples of ` 1 thereafter for year Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly - Monthly & in 1000 & in thereafter for thereafter for minimum six minimum six months (or) months (or) minimum ` 500 minimum ` 500 & in multiples & in multiples of of ` 1 thereafter ` 1 thereafter for minimum for minimum one year one year Quarterly - Quarterly & in 1500 & in thereafter for thereafter for year year NA Dates Weekly Monthly Quarterly 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25t h/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th /30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25 th/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th/3 0th (in case of February last business day) S&P BSE - Information Technology Index S&P BSE HEALTH CARE Index Nifty Commodities Index S&P BSE Midcap Index (w.e.f. 26/11/2016) Nifty MidSmallcap 400 Index CRISIL Liquid Fund Index Nifty Infrastructure Index S&P BSE PSU INDEX S&P BSE Small Cap Index Please consult your financial advisor before investing. 6

11 EQUITY SCHEMES SNAPSHOT Fund Name SBI Banking & Financial Services Fund SBI Gold Fund SBI Equity Savings Fund Type of the Scheme An Open Ended Sector Fund An Open Ended Fund of Fund Scheme An Open Ended Equity Scheme Allotment Date 26/02/ /09/ /05/2015 Ms. Sohini Andani Mr. Raviprakash Sharma Mr. Neeraj Kumar - Arbitrage Portion Mr. Ruchit Mehta - Equity, Debt Feb-2015 Sep-2011 May-2015 Ideal Investment Horizon 3 Year + 3 Year + 3+ Minimum Investment Amount ` 5000 & in multiples of ` 1 ` 5000 & in ` 5000 & in Additional Investment Amount ` 1000 & in multiples of ` 1 ` 1000 & in ` 1000 & in For exit within 12 months from the date of allotment %; For exit after 12 months from the date of allotment - Nil Exit after 1 year from the date of allotment - Nil. Exit within 1 year from the date of allotment 1% For exit within 1 year from the date of allotment: For 9 % of the investments - Nil; For remaining investments % Switches made to all open ended equity schemes of SBI Mutual Fund and SBI Magnum Balanced Fund within 1 year from the date of allotment Nil For exit after 1 year from the date of allotment Nil. Available,,, (Minimum Amount) Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in thereafter for minimum six months (or) minimum ` 500 & in thereafter for minimum 12 months Quarterly & in thereafter for year Weekly & in multiples of `1 thereafter for a minimum of 6 The minimum amount of investment for transactions is `6000 (aggregate) either through: (1) `100/- per month and in multiples of `1/- thereafter for minimum 60 months (2) `500/- per month and in multiples of `1/- thereafter for minimum 12 months (3) `1000/- per month and in multiples of `1/- thereafter for minimum 6 months (4) `500/- per quarter and in multiples of `1/- thereafter for minimum 12 quarters (5) `1500/- per quarter and in multiples of `1/- thereafter for minimum 4 quarters Weekly & in multiples of `1 thereafter for a minimum of 6 Monthly & in multiples of Re. 1 thereafter for minimum 6 months (or) minimum `500 & in multiples of Re. 1 thereafter for year Quarterly & in multiples of Re. 1 thereafter for year Dates Weekly Monthly Quarterly 1st/8th/15th/ 22nd 1st/5th/10th/ 15th/20th/25th/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/5th/20th/25th/30th (in case of February last business day) 1st/8th/15th/ 22nd 1st/5th/10th/5th/20th/25th/30th (in case of February last business day) Nifty Financial Services Price of Physical Gold 30% Nifty % Crisil Liquid Fund Index Please consult your financial advisor before investing. 7

12 How to read Factsheet? : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount : This is the minimum investment amount for an existing investor in a mutual fund scheme. Yield to Maturity : The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond's current market price, par value, coupon interest rate and time to maturity. : or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an that invests Rs 500 every 15th of the month in an equity fund for a period of three years. NAV : The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. : A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. : A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs 101. Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor : Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is Rs 100 and the exit load is 1%, the redemption price would be Rs 99 Per Unit. Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield Standard Deviation : Standard deviation is a statistical measure of the range of an investment's performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio : The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta : Beta is a measure of an investment's volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security's price will be more volatile than the market. AUM : AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings : The holdings or the portfolio is a mutual fund's latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of Scheme : The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile : Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds. Tracking Error : Measure that indicates how closely the portfolio return tracks the benchmark return. Tracking error is the standard deviation of the difference of returns between a portfolio and the benchmark over a specified holding period. 8

13 Investment Objective To provide investors with opportunities for long-term growth in capital through an active management of investments in a diversified basket of equity stocks of companies whose market capitalization is at least equal to or more than the least market capitalized stock of S&P BSE 100 Index. An Open - Ended Scheme 14/02/2006 ` 9, Crores ` 9, Crores Ms. Sohini Andani Sep-2010 Over 21 years S&P BSE 100 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil Weekly & in multiples of ` 1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in thereafter for year Quarterly & in multiples of ` 1 thereafter for year. ` 5000 & in ` 1000 & in Standard Deviation Beta Sharpe Ratio Portfolio Turnover* : 13.41% : 0.85 : 1.00 : 0.84 Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: FBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan EQUITY DEBT TOP 10 HOLDINGS SBI Blue Chip Fund Of HDFC BANK LTD SUN PHARMACEUTICALS INDUSTRIES LTD BHARAT ELECTRONICS LTD MAHINDRA & MAHINDRA LTD RELIANCE INDUSTRIES LTD HINDUSTAN PETROLEUM CORPORATION LTD LARSEN & TOUBRO LTD HCL TECHNOLOGIES LTD INFOSYS LTD MANAPPURAM FINANCE LTD Grand Total will be at Moderately risk ASSET ALLOCATION FINANCIAL SERVICES AUTOMOBILE PHARMA ENERGY 7.36 IT 7.34 CEMENT & CEMENT PRODUCTS 5.24 INDUSTRIAL MANUFACTURING 5.13 CONSUMER GOODS 4.70 CONSTRUCTION 4.60 FERTILISERS & PESTICIDES 3.69 HEALTHCARE SERVICES 1.11 CHEMICALS 0.72 METALS 0.71 LAST DIVIDENDS Record Date Nav ( `) (in `/Unit) 23-Sep-16 (Reg Plan) Sep-16 (Dir Plan) Jul-15 (Reg Plan) Jul-15 (Dir Plan) Mar-14 (Reg Plan) Nov Nov Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. RATING CLASS 14.06% Large Cap 16.94% Cash & Other Current Assets Other Current Assets comprise of Futures 9.84% Long term capital appreciation. Investment in equity shares of companies whose market capitalization is atleast equal to or more than the least market capitalized stock of S&P BSE 100 index to provide long term capital growth opportunities % Midcap 9

14 Investment Objective To provide investors long term capital appreciation along with the liquidity of an open-ended scheme by investing in a mix of debt and equity. The scheme will invest in a diversified portfolio of equities of high growth companies and balance the risk through investing the rest in a relatively safe portfolio of debt. An Open - Ended Balanced Scheme 31/12/1995 ` 7, Crores ` 7, Crores s Mr. R. Srinivasan -Equity Mr. Dinesh Ahuja -Debt Jan-2012 Mr. R. Srinivasan -Over 24 years Mr. Dinesh Ahuja -Over 18 years CRISIL Balanced Fund - Aggressive Index For exit within 12 months from the date of allotment: For 10% of investment - Nil For remaining investments %; For exit after 12 months from the date of allotment - Nil. Weekly & in multiples of ` 1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in thereafter for year Quarterly & in multiples of ` 1 thereafter for year. ` 5000 & in ` 1000 & in Standard Deviation : 10.52% Beta : 0.96 Sharpe Ratio : 1.15 Portfolio Turnover* : 0.19 Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: FFBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan EQUITY DEBT TOP 10 HOLDINGS SBI Magnum Balanced Fund Of HDFC BANK LTD STATE BANK OF INDIA 5.23 KOTAK MAHINDRA BANK LTD INFOSYS LTD SUNDARAM CLAYTON LTD GRUH FINANCE LTD AUROBINDO PHARMA LTD DIVI'S LABORATORIES LTD SUNDARAM FINANCE LTD ECLERX SERVICES LTD % CGL % CGL % CGL CHOLAMANDALAM INVESTMENT AND FINANCE CO. LTD L&T METRO RAIL (HYDERABAD) LTD EQUITAS FINANCE LTD SVL LTD % CGL MANAPPURAM FINANCE LTD NATIONAL WAYS AUTHORITY OF INDIA 0.90 Grand Total will be at Moderately risk LAST DIVIDENDS Record Date Nav ( `) (in `/Unit) 30-Sep-16 (Reg Plan) Sep-16 (Dir Plan) Jun-16 (Reg Plan) Jun-16 (Dir Plan) Mar-16 (Reg Plan) Mar-16 (Dir Plan) Dec-15 (Reg Plan) Dec-15 (Dir Plan) Sep-15 (Reg Plan) Sep-15 (Dir Plan) Jun-15 (Reg Plan) Jun-15 (Dir Plan) Mar-15 (Reg Plan) Mar-15 (Dir Plan) Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. ASSET ALLOCATION FINANCIAL SERVICES SOVEREIGN IT 9.94 SERVICES 8.67 AUTOMOBILE 6.40 PHARMA 5.03 CONSUMER GOODS 3.82 INDUSTRIAL MANUFACTURING 2.88 ENERGY 2.66 CONSTRUCTION 2.57 CEMENT & CEMENT PRODUCTS 2.46 CHEMICALS 1.76 METALS 1.67 HEALTHCARE SERVICES 1.48 MEDIA & ENTERTAINMENT 0.33 Long term capital appreciation. RATING CLASS 29.53% 4.12% Large Cap 26.88% Cash & Other Current Assets (Include Debt) Investment in a mix of debt and equity through stocks of high growth companies and relatively safe portfolio of debt to provide both long term capital appreciation and liquidity % Midcap Small Cap 10

15 Investment Objective To provide investors maximum growth opportunity through well researched investments in Indian equities, PCDs and FCDs from selected industries with high growth potential and in Bonds. An Open - Ended Equity Scheme 30/09/1994 ` 2, Crores ` 2, Crores Mr. R. Srinivasan May-2009 Over 24 years S&P BSE Midcap Index (w.e.f. 26/11/2016) For exit within 12 months from the date of allotment %; For exit after 12 months from the date of allotment - Nil Weekly & in multiples of ` 1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in thereafter for year Quarterly & in multiples of ` 1 thereafter for year. ` 5000 & in ` 1000 & in Standard Deviation Beta Sharpe Ratio Portfolio Turnover* : 13.89% : 0.67 : 1.22 : 0.31 Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: FFBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan TOP 10 HOLDINGS Of MRF LTD DIVI'S LABORATORIES LTD PROCTER & GAMBLE HYGIENE AND HEALTH CARE LTD GRUH FINANCE LTD UNITED BREWERIES LTD SOLAR INDUSTRIES INDIA LTD SUNDARAM FINANCE LTD CRISIL LTD WHIRLPOOL OF INDIA LTD BLUE DART EXPRESS LTD Grand Total SBI Magnum Global Fund will be at Moderately risk LAST DIVIDENDS Record Date Nav ( `) (in `/Unit) 25-Nov-16 (Reg Plan) Nov-16 (Dir Plan) Oct-15 (Reg Plan) Oct-15 (Dir Plan) Jun-14 (Reg Plan) May Mar Mar Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. ASSET ALLOCATION CONSUMER GOODS INDUSTRIAL MANUFACTURING FINANCIAL SERVICES AUTOMOBILE SERVICES 9.78 CHEMICALS 7.24 TEXTILES 5.21 PHARMA 4.47 HEALTHCARE SERVICES 3.05 IT 2.39 CONSTRUCTION 1.85 MEDIA & ENTERTAINMENT 1.33 Long term capital appreciation. RATING CLASS Large Cap 6.10% 6.64% 67.59% Cash & Other Current Assets Investments in Indian equities, PCDs and FCDs from selected industries with high growth potential to provide investors maximum growth opportunity % Midcap Small Cap 11

16 NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan LAST DIVIDENDS Record Date Nav ( `) (in `/Unit) 30-Jun-16 (Reg-Plan) Jun-16 (Dir-Plan) Mar-15 (Reg-Plan) Mar-15 (Dir-Plan) Aug-13 (Reg-Plan) Dec Investment Objective To provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme by investing predominantly in a well diversified basket of equity stocks of Midcap companies. An Open - Ended Scheme 29/03/2005 ` 2, Crores ` 2, Crores Ms. Sohini Andani July-2010 Over 21 years Nifty MidSmallcap 400 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil Weekly & in multiples of ` 1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in thereafter for year Quarterly & in multiples of ` 1 thereafter for year. ` 5000 & in ` 1000 & in Standard Deviation Beta Sharpe Ratio Portfolio Turnover* : 0.28 : 15.62% : 0.68 : 1.45 Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: FBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points DEBT EQUITY TOP 10 HOLDINGS SBI Magnum MidCap Fund Of MUTHOOT FINANCE LTD STRIDES SHASUN LTD THE RAMCO CEMENTS LTD CHOLAMANDALAM INVESTMENT AND FINANCE CO. LTD CARBORUNDUM UNIVERSAL LTD MANPASAND BEVERAGES LTD GREAVES COTTON LTD DR. LAL PATHLABS LTD SHRIRAM CITY UNION FINANCE LTD PI INDUSTRIES LTD 2.37 Grand Total will be at Moderately risk ASSET ALLOCATION FINANCIAL SERVICES INDUSTRIAL MANUFACTURING PHARMA CONSUMER GOODS 9.18 FERTILISERS & PESTICIDES 7.46 HEALTHCARE SERVICES 6.43 CONSTRUCTION 5.39 CEMENT & CEMENT PRODUCTS 4.93 SERVICES 2.80 ENERGY 2.26 IT 2.24 AUTOMOBILE 2.18 MEDIA & ENTERTAINMENT 1.99 TEXTILES 0.55 Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. Long term capital appreciation RATING CLASS 10.45% Large Cap 12.96% Cash & Other Current Assets Investment predominantly in a well diversified equity stocks of Midcap companies. 7.30% 69.29% Midcap Small Cap Other Current Assets comprise of Futures 4.40% 12

17 Investment Objective To provide the investor long-term capital appreciation by investing in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities and the balance in debt and money market instruments. An Open - Ended Equity Fund 01/01/1991 ` 1, Crores ` 1, Crores Mr. R. Srinivasan May-2009 Over 24 years Nifty 50 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil Weekly & in multiples of ` 1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in thereafter for year Quarterly & in multiples of ` 1 thereafter for year. ` 5000 & in NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan TOP 10 HOLDINGS Of HDFC BANK LTD INFOSYS LTD STATE BANK OF INDIA 6.27 HCL TECHNOLOGIES LTD RELIANCE INDUSTRIES LTD KOTAK MAHINDRA BANK LTD ITC LTD COAL INDIA LTD AUROBINDO PHARMA LTD HINDUSTAN PETROLEUM CORPORATION LTD Grand Total LAST DIVIDENDS ASSET ALLOCATION FINANCIAL SERVICES IT ENERGY PHARMA 8.39 CONSUMER GOODS 7.43 AUTOMOBILE 6.22 METALS 5.22 SERVICES 5.05 MEDIA & ENTERTAINMENT 2.13 CONSTRUCTION 1.09 Record Date Nav ( `) (in `/Unit) 29-Apr-16 (Reg Plan) Apr-16 (Dir Plan) Apr-15 (Reg Plan) Apr-15 (Dir Plan) May-14 (Reg Plan) Dec Jan Dec Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. RATING CLASS Large Cap 2.27% 4.42% Cash & Other Current Assets 93.31% Midcap ` 1000 & in Standard Deviation Beta Sharpe Ratio Portfolio Turnover* : 0.58 : 14.32% : 0.95 : 0.73 SBI Magnum Equity Fund Long term capital appreciation Investments in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities. Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. FBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points will be at Moderately risk 13

18 Investment Objective The prime objective of this scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under Section 80 C of the Incometax Act, It also seeks to distribute income periodically depending on distributable surplus. An Open - Ended Equity Linked Saving Scheme 31/03/1993 ` 4, Crores ` 4, Crores Mr. Dinesh Balachandran Sep-2016 Over 20 years S&P BSE 100 Index NIL Weekly & in multiples of ` 500 thereafter for a minimum of 6 Monthly & in multiples of ` 500. ` 500 & in multiples of ` 500 ` 500 & in multiples of ` 500 Standard Deviation Beta Sharpe Ratio Portfolio Turnover* : 15.09% : 0.96 : 0.78 : 0.41 NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan TOP 10 HOLDINGS Of AXIS BANK LTD INFOSYS LTD HDFC BANK LTD STATE BANK OF INDIA 4.77 TATA MOTORS LTD SHREE CEMENTS LTD RELIANCE INDUSTRIES LTD BAJAJ FINANCE LTD HOUSING DEVELOPMENT FINANCE CORPORATION LTD AUROBINDO PHARMA LTD Grand Total LAST DIVIDENDS ASSET ALLOCATION FINANCIAL SERVICES ENERGY 9.62 IT 9.32 CONSUMER GOODS 8.95 AUTOMOBILE 8.50 PHARMA 8.38 CEMENT & CEMENT PRODUCTS 5.44 SERVICES 5.35 INDUSTRIAL MANUFACTURING 4.79 CONSTRUCTION 4.79 TEXTILES 1.88 FERTILISERS & PESTICIDES 1.34 CHEMICALS 1.22 Record Date Nav ( `) (in `/Unit) 11-Mar-16 (Reg Plan) Mar-16 (Dir Plan) Mar-15 (Reg Plan) Mar-15 (Dir Plan) Mar-14 (Reg Plan) Mar-13 (Reg Plan) Mar Mar Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. RATING CLASS 21.51% Large Cap 3.80% 2.43% Cash & Other Current Assets 72.26% Midcap Small Cap Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. FBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points SBI Magnum Taxgain Scheme Long term capital appreciation Investment in a portfolio of equity shares, while offering deduction under Section 80 C of IT Act, will be at Moderately risk Investment under the Scheme has a lock-in period of 3 years. 14

19 (Previously known as SBI MSFU - Emerging Businesses Fund) Investment Objective The investment objective of the Emerging Businesses Fund would be to participate in the growth potential presented by various companies that are considered emergent and have export orientation/outsourcing opportunities or are globally competitive by investing in the stock representing such companies. The fund may also evaluate Emerging Businesses with growth potential and domestic focus. An Open - Ended Equity Fund 11/10/2004 ` 1, Crores ` 1, Crores Mr. R. Srinivasan May-2009 Over 24 years S&P BSE 500 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil. Weekly & in multiples of ` 1 thereafter for a minimum of 6 Monthly & in multiples of ` 1 thereafter for minimum six months (or) minimum ` 500 & in thereafter for year Quarterly & in multiples of ` 1 thereafter for year. ` 5000 & in ` 1000 & in Standard Deviation Beta Sharpe Ratio Portfolio Turnover* : 14.36% : 0.83 : 1.06 : 0.40 Source: CRISIL Fund Analyser *Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. FBIL Overnight Mibor rate (6.51% as on 30th November 2016) Basis for Ratio Calculation: 3 Years Monthly Data Points NET ASSET VALUE Reg-Plan Reg-Plan Dir-Plan Dir-Plan TOP 10 HOLDINGS Of DIVI'S LABORATORIES LTD HDFC BANK LTD PROCTER & GAMBLE HYGIENE AND HEALTH CARE LTD SOLAR INDUSTRIES INDIA LTD THE GREAT EASTERN SHIPPING CO. LTD GRUH FINANCE LTD ELGI EQUIPMENTS LTD KOTAK MAHINDRA BANK LTD M INDIA LTD EQUITAS HOLDING LTD Grand Total SBI Emerging Businesses Fund will be at Moderately risk LAST DIVIDENDS Record Date Nav ( `) (in `/Unit) 07-Apr-16 (Reg Plan) Apr-16 (Dir Plan) Nov-14 (Reg Plan) Apr-13 (Reg Plan) Mar Jul Mar Oct Pursuant to payment of dividend, the NAV of Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. ASSET ALLOCATION FINANCIAL SERVICES SERVICES CONSUMER GOODS INDUSTRIAL MANUFACTURING PHARMA CHEMICALS 6.64 HEALTHCARE SERVICES 2.93 AUTOMOBILE 2.69 Long term capital appreciation RATING CLASS 12.12% 44.48% Large Cap 4.09% Cash & Other Current Assets Investments in companies that are considered emergent and have export orientation/outsourcing opportunities or are globally competitive to participate in growth potential of Indian businesses % Midcap Small Cap 15