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1 B I R L A S U N L I F E A U G U S T 2 7 Toll Free: Non Toll Free: SMS GAIN to connect@birlasunlife.com

2 A u g u s t 2 7 Market Outlook Indian stock markets scaled new highs as BSE Sensex touched 15,794 before ending the month at 1555, rising 6.15% during July. BSE 5, the broader index, also returned a healthy 4.87%, while CNX Cap index closed the month 3.38% higher. Strong earnings growth has become a regular feature at the end of each quarter and a look at the corporate India's earnings scorecard reveals that the June quarter was no exception. Companies (excluding banks) YoY growth for Quarter Ended June 27* Part of BSE Sensex Part of BSE 5 Sales 15.7% 16.6% Adj. EBITDA 14.2% 25.% Adj. EBITDA Margin -33bps 114bps Adj. PAT 3.% 51.4% Key sectors that contributed to the robust profit growth include Capital Goods, Telecom, Construction, Power, Oil & Gas and related services like pipes, offshore services, Media, Logistics etc. Banking & Finance YoY growth for Quarter Ended June 27* Part of BSE Sensex Part of BSE 5 NII 17.9% 21.2% Adj. Operating Profit 39.5% 34.8% Adj. PAT 48.1% 49.1% * For companies that had reported June quarter earnings as on 3-Aug-27 Net FII inflows during July 27 amounted to US$ 5,855 mn vis-à-vis US $ 41 mn in June 27 and US $ 4,347 mn during Jan-Jun'7. Domestic mutual funds were net sellers during the month with negative flows of Rs. 91 Crs as compared to net purchases of Rs. 71 Crs in June 27 and net purchases of Rs. 191 Crs during Jan-Jun'7. Economic activity continued to cruise along in top gear. Industrial Production growth remained above 1% yoy in May, driven predominantly by robust growth in manufacturing and electricity output. Although, mining segment has been growing at a relatively slower pace, it is likely to gain traction once the government's endeavor to bring the new mining policy, which aims to encourage private investment in mining, fructify. RBI's Q1 review of the annual credit policy revealed encouraging trends in key lead indicators for the services sector. In the transport sector, cargo handled at major ports increased by 17.8%, railway freight revenue earnings increased 6. %, import and export cargo handled through civil aviation rose 21.7% and 1.6%, respectively. Passengers at domestic and international terminals EQUITY MARKET increased by 24.4% and 13.1 %. All of these bode well for solid growth in the services sector. Primary sector growth has been lagging in comparison to the expansion in manufacturing and services. However, to address the same, the government is taking concrete steps like increased spend on irrigation (+55%), higher targeted credit disbursement of US$ 7.8 bn to the farm sector and a larger outlay on Bharat Nirman - which covers a gamut of rural infrastructure development initiatives in the areas of roads, power, telecom and housing. Quite importantly, the government has been relaxing regulations for the private corporate sector's participation in the sector. Many states have recently amended the Agricultural Produce Marketing Committee (APMC) Act(s) to enable direct trade between farmers and corporates, which in turn could result I substantial gains for either side. As these measures, amongst others, start bearing fruits, India's growth curve would witness another step change into a much higher zone. A key trend to watch is that of global food prices, which has been a cause for concern the world over. In India also, the food inflation segment of WPI has been increasingly higher over past 3 years. The key driver for this has been the food grain segment, where inflation has increased from 1.% in FY4 to 1.1% in FY7. We believe the situation should improve as agricultural growth rises. In the near term, the on going monsoon assumes greater significance. The Met department has recorded cumulative rainfall upto 25th July at 4% above normal, which is prima facie positive for the agricultural sector and rural household income in turn. This also bodes well for consumer staples sector, which has been under performing the broader market until now. In late July 27, the global equity markets witnessed sharp corrections on account of heightened fears of a widespread contagion of losses from lower grade US mortgages (Alt-A, subprime etc.). The impact of yen appreciation on leveraged positions for carry trade exacerbated the market reaction. Reports of losses and restriction placed on redemptions by a few hedge funds, financing issues at a European bank and a US mortgage financier further added to an already jittery market sentiment. While no one knows where the sub prime risk resides, as these loans have been repackaged and sold multiple times over via MBSs and CDOs etc., we believe that the Indian markets are far from the jeremiads of subprime worries. We remain positive on long-term prospects of the Indian markets with economy still growing at a faster pace as compared to the rest of the world. In the shorter term, the stock market movement could be impacted from the global market cues and the consequent liquidity flows, perhaps leading to increased volatility on account of portfolio rebalancing by those impacted from these effects. While further re-rating (i.e., increase in the PE multiples) of the Indian markets may be limited in the near term, returns should be in line with the earnings growth over the longer term. In fact, choppiness in the markets could provide opportunities to pick up stocks at attractive valuations. 2 The month kicked off with the 1-year breaking the psychological level of 8% and continuing with the rally backed by ample liquidity. Buoyed by views that the central bank would not tinker with rates in the impending policy review, sentiment remained upbeat. As easy liquidity conditions in the banking system encouraged investors to build fresh positions, demand for SLR also remained high. Moreover, factors like a newspaper report stating a likely rise in the limit of foreign investment in government bonds added to the optimism. Frenzy among banks ahead of the review to park their surplus cash in high-yielding assets pushed yields across various fixed-income instruments down sharply. However, with the market having positioned for the risk of more bond auctions in a bid to drain excess liquidity, selling at higher levels provided interim jerks. Fears over continual rise in global oil prices too triggered some selling. Beliefs that the policy measures would leave less cash to invest in debt pushed bonds down from their multi-month highs. Large short term borrowing by the government led to a sharp increase in government spending. In addition to this, the central bank's intervention in the forex market to cap rupee's gains also kept the banking system awash with cash. Thus, call money rates traded near zero percent throughout the month and closed at.1-.2%. The 91-day commercial paper reference rate eased further to 6.6% from 8.56%. The yield on 91-day T-bills was sharply lower at 6.48% from 7.39%. In the corporate bond segment too, yields fell sharply. Liquidity driven corporate bond market also found support from wider credit spreads resulting in sharp fall in yields across the maturity spectrum. Our assessment of RBI's monetary policy and market outlook: The RBI's First Quarter Review of the Monetary Policy was on expected lines with emphasis on liquidity management. The stance of the monetary policy also assigned higher priority to the management of appropriate liquidity conditions. While the central bank maintained a status quo on the repo, reverse repo and bank rate, the cash reserve ratio (CRR) was increased by 5 basis points to 7% with effect from the fortnight beginning August 4, 27. In addition to the second LAF being withdrawn w.e.f. August 6, 27, the ceiling of Rs.3, crore on daily reverse repo under the LAF was also scrapped. DEBT MARKET RBI emphasized that domestic factors continue to play much more important role vis-à-vis global macro economic factors. RBI notes that monetary accommodation is being withdrawn globally and inflation remained at elevated levels. Our central bank considers both food and fuel inflation as important and permanent factor in the inflationary expectations across the globe and re-emphasizes the importance of 'overall price stability' in domestic economy as well. It also noted that managing liquidity is important and indicates that overhang of liquidity might have its negative repercussions on the health of the economy. There were some expectations that RBI would talk about curbs on ECB borrowings, however, it is constrained on this front due to a different view shared by the finance ministry. It's interesting to note that RBI has voiced concern on the quality of FDI flows as well; stating that there is a wide gap between FDI led physical investments and financial flows. Best of the liquidity is behind us; our assessment is that market has Rs. 3 crs liquidity surplus, and the coming week's auction along with CRR hike will take out large amount of surplus from the system. As we move towards busy season and government also starts building surplus, excess liquidity will vanish. Increase in currency with public will also put pressure on liquidity in banking system from September onwards. Call money rates will move back to the policy rate corridor i.e %. Short-term rates are likely to move up once market starts re-pricing the 'alternate deployment' level of 6% instead of %. 1-year CP/CD rates may not move up immediately but are likely to have an upward bias in the coming weeks. We expect credit spread to narrow in the coming weeks. Bringing call rates back to the corridor is bullish for rupee, but we believe that the currency movement will largely track the visibility of future capital flows. There is also a higher probability of intervention in the coming weeks, which will neutralize the bullish-effect of elevated overnight rates. We had long duration across our long-term funds expecting a good rally in both Government securities and corporate bonds. Our portfolios benefitted from absolute fall in yields as well as spread contraction. We booked profits across the board as yields fell during the month. We also increased cash levels in liquid and short term funds to take advantage of expected uptick in overnight rates and short term yields. We advise investors with long horizon and risk appetite to allocate part of their funds to Income funds.

3 From the Manager s Desk A u g u s t 2 7 Dear Investor, Don t run after money, Make it come to you ; I m sure this slogan from the Birla Sun Life Equity (BSLEF) advertisement has captivated you all. Let me take this opportunity to share with you what BSLEF is all about and some of the secrets behind its consistent performance. BSLEF is a diversified multi-cap equity fund with a growth oriented investment style. A significant portion of the funds corpus is invested in sectors with high growth prospects. Additionally, constant endeavor is towards identifying sunrise industries at an early stage of growth and riding their life cycle. The large in-house research team is especially helpful in identifying such stocks. The fund also takes medium-term bets on certain sectoral trends to ride on the growth momentum. The fund s foundation is built around a core portfolio of fundamentally strong companies which have a scalable business model and run by sound management. Around this core about 25-3% of the portfolio is towards opportunistic bets which the fund takes mostly in mid-cap stocks. While the core portfolio takes care of the long term performance, the satellite portfolio helps to sustain above average performance even in the short to medium term. Protection form Market Volatility BSLEF dynamically shifts weightages between the large-cap and mid-cap stocks depending on the market outlook and the relative valuation differential between these two categories. However, at any point in time the mid-cap/small-cap exposure will not exceed a maximum of 5% of the funds corpus. This strategy has helped the fund to take advantage during large market volatility. For example, after the market crash in May 26, the fund promptly increased the large cap exposure to protect from the sharp correction which one witnessed in the mid cap stocks as the market bottomed out in the subsequent months. After the market stabilized, sometime in September 26, the fund again increased exposure to mid-caps to take advantage of the valuation discount which was seen in some of the madcap stocks. Subsequently, there was a smart rally in the mid cap stocks which the fund benefited from. Presently, we feel the market valuations are slightly above the historical averages and it would be prudent to be inclined towards the large cap stocks and this would reflect in our portfolio action in the near term. Diverse The fund also invests part of the corpus in sectors which are sunrise in nature and having a sustained long-term growth potential, for example, retail, property, media, and telecom. The investment horizon for stocks in the sunrise sectors will be longterm (2-3 years) to realize their full potential and ride the early growth stage. At times some of these stocks may languish, but they have the potential to be multi-baggers over the investment horizon, generating superior returns. For example, Pantaloon which has been a part of the portfolio for long has appreciated by more than 12 times its average acquisition cost and with organized retail penetration still low at about 4-5%, there is still potential for high growth in future. BSLEF is overweight in high growth sectors like engineering/capital goods, telecom, construction and media. The overweight in these sectors indicates our bullish view on these sectors in the medium term. The engineering/capital goods sector, in particular is a direct beneficiary of the upturn in the capex cycle and the huge spend fund in infrastructure. The large order book enjoyed by the companies in this space provides visibility for earnings growth in the medium term and as order book increases it provides visibility even in the long term. Further, since these companies typically enjoy high return on capital employed, they can sustain high growth without the need for equity dilution enhancing shareholder value. The fund is relatively under weight in the sectors like oil and gas, commodities and automobiles. During the last couple of years the fund has moved form having a concentrated portfolio of about 25-3 stocks, to a well diversified portfolio covering about fifty stocks. This has been achieved by introducing new stock ideas backed by the strong in-house research support. The end result is lower volatility in the day to day portfolio returns, thus lowering the overall portfolio risk. Top 1 holdings account for about 37% of the portfolio assets. Consistent Performance The above portfolio actions and active management has made BSLEF one of the top performing funds within its class and it has returned top quartile performance on a 1 year, 3 year and 5 year basis. The performance has been recognized in the form of superior ratings from various agencies like ICRA, Crisil and Value Research. Please refer the fund page to see the latest ratings. The funds constant endeavor will be to meet long-term and short-term performance expectations through a careful bottoms-up stock selection approach and dynamic sector allocation. Outlook The Indian equity markets have delivered handsome returns in the past despite short term market corrections and as we look forward we expect the markets to deliver about 15% year on year returns on the back of strong GDP growth in the Indian economy of about 8% p.a. However, with overall market valuations slightly above the long term averages and the likely change in global risk appetite there is bound to be increase in market volatility in the short to medium term. We feel going forward right sector allocation and stock selection will be the key for outperform ace vis-à-vis the broader market. Also, to tide over market volatility the fund will use derivatives to hedge a part of the portfolio like it has done in the past. BSLEF has given sustainable long-term returns and with its truly multicap and diversified investment strategy it can form a core investment in any investor s portfolio. The risk mitigation strategy adopted by the fund through, sectoral diversity, lower stock concentration, hedging strategies, and careful bottoms up stock selection ensures investors stable risk adjusted returns over the long term. Mahesh Patil Manager - Birla Sun Life Equity 3

4 A u g u s t 2 7 Birla Sun Life Equity Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 9% equity and 1% debt and money market securities. Date of inception / takeover : August 27, 1998 Growth : Dividend : Manager : Mr. Mahesh Patil Entry Load : Rs. 5 crores % Exit Load : Rs. 5 crores -.5% if redeemed / switched out within 6 months Benchmark : BSE 2 Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Equity... Period Total (Rs.) Date of First Installment : October 1, 1998 Value (Rs.) of SIP in Returns (%)* BSE 2 Birla Sun Life Equity BSE 2 Birla Sun Life Equity Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Industrial Capital Goods Software 1.47% 13.9% 15.58% Telecom-Services 9.57% Other Equity Banks Construction Cement Finance Auto 6.97% 5.99% 4.97% 4.4% 8.79% 8.51% Birla SunLife Equity - Growth BSE 2 Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Consumer Non Durables Media & Entertainment Retailing Diversified Industries 3.27% 2.99% 2.76% 2.65% Industrial Capital Goods Bharat Heavy Electricals Ltd Crompton Greaves Ltd Bharat Bijlee Ltd RPG Transmission Ltd Thermax Ltd Siemens Ltd Aban Offshore Ltd Software Infosys Technologies Ltd Satyam Computer Services Ltd Tata Consultancy Services Ltd Megasoft Ltd Mphasis BFL Ltd Allsec Technologies Ltd Geometric Software Solution Ltd Telecom-Services Bharti Airtel Ltd Reliance Communications Ltd Spice Communications Ltd Banks ICICI Bank Ltd Oriental Bank of Commerce Kotak Mahindra Bank Ltd Andhra Bank Construction GVK Power & Infrastructure Ltd Gammon India Ltd D.S. Kulkarni Developers Ltd Mahindra Gesco Developers Ltd Nagarjuna Construction Co. Ltd Cement Grasim Industries Ltd India Cements Ltd Century Textile & Industries Ltd Finance United Breweries Holdings Ltd Auto Maruti Udyog Ltd Mahindra & Mahindra Ltd Consumer Non Durables United Spirits Ltd United Breweries Ltd Media & Entertainment Balaji Telefilims Ltd Jagran Prakashan Ltd New Delhi Television India Ltd Magnasound India Ltd.**.. Retailing Pantaloon Retail (India) Ltd Shoppers Stop Ltd Diversified Industries Aditya Birla Nuvo Ltd Industrial Products Cummins India Ltd Chemicals Bombay Dyeing & Mfg. Co. Ltd Ferrous Metals Welspun Gujarat Stahl Rohren Ltd Pharmaceuticals Wockhardt Ltd Maestro Mediline Systems Ltd Petroleum Products Reliance Industries Ltd Hotels Indian Hotels Co. Ltd Total Net Asset **Represents thinly traded/ non traded securities. Total outstanding exposure in derivatives as on 31st July, 27 is Rs Crores (Notional value). Value Research Rating Birla Sun Life Equity Equity: Diversified (18 Schemes), 5 Yrs ended MFR 1 by ICRA Birla Sun Life Equity Open Ended Diversified Equity Schemes - Defensive (32 Schemes), 3 Yrs ended 31-Dec-6 CRISIL~CPR 2^^ Birla Sun Life Equity Diversified Equity Scheme (6 Schemes), 2 Yrs ended 3-June-7 4 (Past performance is no guarantee of future results.) for methodology please refer page 39

5 Birla Sun Life Frontline Equity A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 1% equity by aiming at being as diversified across various industries and or sectors as its chosen benchmark index, BSE 2. Date of inception / takeover : August 3, 22 Growth : 6.21 Dividend : Manager : Mr. Mahesh Patil Entry Load : Rs. 5 crores % Exit Load : Rs. 5 crores -.5% if redeemed / switched out within 6 months Benchmark : BSE 2 Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Frontline Equity... Period Total (Rs.) Date of First Installment : October 1, 22 Value (Rs.) of SIP in Returns (%)* BSE 2 Birla Sun Life Frontline Equity BSE 2 Birla Sun Life Frontline Equity Since Inception Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Industrial Capital Goods 13.57% Software Banks 1.94% 12.54% Telecom-Services Cement 8.49% 8.27% 1.3% 3 2 Construction Consumer Non Durables Other Equity 5.15% 4.49% 7.18% 1 Petroleum Products Auto 3.95% 3.86% 1 Year 3 Years Since Inception Birla SunLife Frontline Equity - Growth BSE 2 Oil Finance Media & Entertainment 3.51% 2.89% 2.52% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Auto Ancillaries 2.33% Industrial Capital Goods Crompton Greaves Ltd Bharat Heavy Electricals Ltd Thermax Ltd Hindustan Dorr-Oliver Ltd AIA Engineering Ltd Siemens Ltd Software Infosys Technologies Ltd Tata Consultancy Services Ltd Wipro Ltd i Infotech Ltd Satyam Computer Services Ltd HCL Technologies Ltd Banks ICICI Bank Ltd HDFC Bank Ltd Oriental Bank of Commerce State Bank of India Indian Overseas Bank Telecom-Services Bharti Airtel Ltd Reliance Communications Ltd Spice Communications Ltd Cement Grasim Industries Ltd Century Textile & Industries Ltd India Cements Ltd Construction Ansal Properties & Infrastructure Ltd Punj Lloyd Ltd Larsen & Toubro Ltd Nagarjuna Construction Co. Ltd Gammon India Ltd Consumer Non Durables United Spirits Ltd Hindustan Lever Ltd McDowell Holdings Ltd Petroleum Products Reliance Industries Ltd Auto Mahindra & Mahindra Ltd Maruti Udyog Ltd Oil Oil & Natural Gas Corporation Ltd Finance Power Finance Corporation Ltd Housing Development Finance Corp. Ltd Media & Entertainment Balaji Telefilims Ltd Auto Ancillaries Motor Industries Company Ltd Kesoram Industries Ltd Apollo Tyres Ltd Pharmaceuticals Wockhardt Ltd Cipla Ltd Industrial Products Kirloskar Oil Engines Ltd Power Tata Power Company Ltd Total Net Asset Value Research Rating Birla Sun Life Frontline Equity Equity: Diversified ( 18 Schemes), 3 Yrs ended 31-July-7 CRISIL~CPR 1^^ Birla Sun Life Frontline Equity Large Cap Oriented Equity Scheme (26 Schemes), 2 Yrs ended 3-Jun-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 5

6 A u g u s t 2 7 Birla cap Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended growth scheme with the objective to achieve long-term growth of capital at controlled level of risk by primarily investing in midcap stocks. Date of inception / takeover : October 3, 22 Growth : 8.3 Dividend : Manager : Mr. Jayesh Gandhi Entry Load : Rs. 5 crores % Exit Load : Rs. 5 crores -.5% if redeemed / switched out within 6 months Benchmark : CNX cap Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla cap Period Total (Rs.) Date of First Installment - November 1, 22. Value (Rs.) of SIP in Returns (%)* CNX cap Birla cap CNX cap Birla cap Since Inception Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Year 3 Years Since Inception Birla Cap - Growth CNX cap Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Industrial Capital Goods Banks Power Auto Ancillaries Industrial Products Cement Consumer Non Durables Software Other Equity Pharmaceuticals Construction Ferrous Metals Diversified Industries Telecom-Services Fertilisers Auto Consumer Durables Finance Corporate Debt.16% 3.67% 3.58% 3.45% 3.6% 2.64% 2.48% 2.41% 2.6% 5.27% 4.97% 4.33% 3.85% 6.89% 6.79% 6.37% 7.94% 7.55% 11.27% 11.26% Industrial Capital Goods Bharati Shipyard Ltd Bharat Bijlee Ltd Thermax Ltd Kalpataru Power Transmission Ltd Crompton Greaves Ltd AIA Engineering Ltd Banks Federal Bank Ltd ING Vysya Bank Ltd Centurion Bank Of Punjab Ltd Dena Bank Indian Bank Power Monnet Ispat Energy Ltd CESC Ltd Tata Power Company Ltd Auto Ancillaries Apollo Tyres Ltd Kesoram Industries Ltd Automobile Corporation of Goa Ltd Amtek India Ltd Sundaram-Clayton Ltd Industrial Products Kirloskar Oil Engines Ltd Sintex Industries Ltd SKF Bearings India Ltd Cement Century Textile & Industries Ltd Birla Corporation Ltd Mangalam Cement Ltd Consumer Non Durables Tata Tea Ltd Marico Industries Ltd Shaw Wallace Company Ltd Software HCL Technologies Ltd i Infotech Ltd Infotech Enterprises Ltd Tata Consultancy Services Ltd Geodesic Information Systems Ltd Pharmaceuticals Pfizer Ltd Cipla Ltd Ranbaxy Laboratories Ltd Construction Housing Development & Infrastructure Ltd Ferrous Metals Jindal Saw Ltd Welspun Gujarat Stahl Rohren Ltd Diversified Industries Aditya Birla Nuvo Ltd Telecom-Services Reliance Communications Ltd Spice Communications Ltd Fertilisers Tata Chemicals Ltd Auto Mahindra & Mahindra Ltd Consumer Durables Blue Star Ltd Finance United Breweries Holdings Ltd Non - Ferrous Metals Sterlite Industries (India) Ltd Hotels Asian Hotels Ltd Media & Entertainment ZEE News Ltd Corporate Debt Trent Ltd Total Net Asset Value Research Rating Birla Cap Equity: Diversified ( 18 Schemes), 3 Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 CRISIL~CPR 2 Birla Cap Diversified Equity Scheme (6 Schemes), 2 Yrs ended 3-Jun-7

7 Birla Sun Life '95 A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Interest Rate Sensitivity: (Debt) Low Large Small An open-end balanced scheme with the objective of long term growth of capital and current income, through a portfolio of equity and fixed income securities Date of inception / takeover : February 1, 1995 Growth : Dividend : Manager : Mr. Navneet Munot Entry Load : Rs. 5 crores % Exit Load : Rs. 5 crores -.5% if redeemed / switched out within 6 months Benchmark : CRISIL Corpus : Rs Crores Balanced Index Average Maturity : 3.82 Years SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life '95... Period Total (Rs.) Date of First Installment : April 1, 1995 Value (Rs.) of SIP in Returns (%)* CRISIL Balanced Index Birla Sun Life '95 CRISIL Balanced Index Birla Sun Life '95 Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Birla SunLife 95 - Growth Crisil Balanced Index Corporate Debt Consumer Non Durables PSU/PFI Bonds/Banks Securitised Debt Pesticides Software Pharmaceuticals Finance Other Equity Petroleum Products Auto Banks Retailing Media & Entertainment Gas Industrial Products 5.57% 5.47% 5.23% 4.17% 4.16% 4.2% 3.1% 2.3% 2.21% 2.11% 2.7% 8.86% 8.% 7.76% 7.69% 12.88% 14.48% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Rating Profile Rating Corporate Debt Housing Development Finance Corp. Ltd. ** AAA Consumer Non Durables ITC Ltd Bombay Burmah Trading Corporation Ltd Nestle India Ltd Colgate Palmolive (I) Ltd Nirma Ltd United Breweries Ltd Procter & Gamble Hygiene & Health Care PSU/PFI Bonds/Banks National Bank for Agri & Rural Devp ** AAA Export-Import Bank of India ** AAA Securitised Debt Indian Retail ABS Trust Series 5 ** AAA(SO) Ind Ret ABS Trust Ser 49(A4) 18 MAY 21 ** AAA(SO) Fleet Trust July 24 A2 Series ** AAA(SO) Pesticides Rallis India Ltd United Phosphorous Ltd Software Infosys Technologies Ltd HCL Technologies Ltd Pharmaceuticals Cipla Ltd Cadila Healthcare Ltd Finance United Breweries Holdings Ltd Petroleum Products Reliance Industries Ltd Rating Auto Hero Honda Motors Ltd Banks Oriental Bank of Commerce Retailing Trent Ltd Media & Entertainment ETC Networks Ltd Magnasound India Ltd.** -. Gas Gujarat Gas Co. Ltd Industrial Products BOC India Ltd Fertilisers Rashtriya Chemicals & Fertilizers Ltd Telecom-Services Bharti Airtel Ltd Paper Ballarpur Industries Ltd Auto Ancillaries Subros Ltd Industrial Capital Goods Bharat Bijlee Ltd Total Net Asset Other AAA 2.3% 31.34% Winner of Best - Lipper Awards India 27 Mixed Asset INR Aggressive, 1 Yrs ended 31-Dec-6 (Past performance is no guarantee of future results.) for methodology please refer page % & ** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 31.34% 7

8 A u g u s t 2 7 Birla Sun Life Tax Relief '96 An Open-ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An open-end equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 8% equity, 2% debt and money market securities Manager : Mr. Ajay Garg Date of inception / takeover : March 29, 1996 Growth : Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : BSE 2 Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Relief '96... Period Total (Rs.) Date of First Installment : April 1, 1996 Value (Rs.) of SIP in Returns (%)* BSE 2 Birla Sun Life Tax Relief '96 BSE 2 Birla Sun Life Tax Relief '96 Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Finance Industrial Capital Goods Banks 11.63% 13.38% 2.44% Software Construction Auto Diversified Industries Other Equity Auto Ancillaries 7.29% 5.51% 4.88% 4.81% 4.48% 9.84% 1 Birla SunLife Tax Relief 96 BSE 2 Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Returns assume reinvestment of the tax free dividend declared. Hotels Telecom-Services Power Petroleum Products 4.28% 4.27% 3.28% 3.13% 2.79% Finance United Breweries Holdings Ltd Housing Development Finance Corp. Ltd ICRA Ltd Reliance Capital Ltd Industrial Capital Goods Siemens Ltd Crompton Greaves Ltd Bharat Bijlee Ltd Honeywell Automation India Ltd Banks HDFC Bank Ltd Kotak Mahindra Bank Ltd ICICI Bank Ltd Software Infosys Technologies Ltd Satyam Computer Services Ltd Construction Larsen & Toubro Ltd GVK Power & Infrastructure Ltd Auto Maruti Udyog Ltd Mahindra & Mahindra Ltd Diversified Industries Aditya Birla Nuvo Ltd Auto Ancillaries Motor Industries Company Ltd MRF Ltd Hotels Taj GVK Hotels & Resorts Ltd Asian Hotels Ltd Telecom-Services Bharti Airtel Ltd Spice Communications Ltd Power Reliance Energy Ltd Petroleum Products Reliance Industries Ltd % Pesticides United Phosphorous Ltd Industrial Products Kirloskar Brothers Ltd Consumer Non Durables Ruchi Soya Industries Ltd Trading Uniphos Enterprises Ltd Media & Entertainment.. Magnasound India Ltd.** Total Net Asset **Represents thinly traded/ non traded securities CRISIL~CPR 2^^ Birla Sun Life Tax Relief '96 Equity Linked Savings Scheme (14 Schemes), 2 Yrs ended 3-June-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 8

9 Birla Sun Life New Millennium A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small A multi-sector open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 1% equity, focusing on investing in technology and technology dependent companies, hardware, peripherals and components, software, telecom, media, internet and e-commerce and other technology enabled companies. Date of inception / takeover : January 15, 2 Growth : Dividend : Manager : Mr. Mahesh Patil Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : BSE Teck Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life New Millennium... Period Total (Rs.) Date of First Installment : March 1, 2 Value (Rs.) of SIP in Returns (%)* BSE Teck Birla Sun Life New Millennium BSE Teck Birla Sun Life New Millennium Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Software Telecom-Services 22.61% 53.83% 3 2 Media & Entertainment 16.7% % Birla SunLife New Millennium - Growth BSE Teck Other Equity 2.75% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Software Infosys Technologies Ltd Satyam Computer Services Ltd Tata Consultancy Services Ltd HCL Technologies Ltd I-Flex Solutions Ltd Mphasis BFL Ltd Subex Azure Ltd Megasoft Ltd Tech Mahindra Ltd i Infotech Ltd Nucleus Software Exports Ltd Infotech Enterprises Ltd KPIT Cummins Infosystem Ltd Allsec Technologies Ltd Hov Services Ltd Zensar Technolgies Ltd Geometric Software Solution Ltd Telecom-Services Bharti Airtel Ltd Reliance Communications Ltd Media & Entertainment Deccan Chronicle Holdings Ltd Jagran Prakashan Ltd UTV Software Communications Ltd Balaji Telefilims Ltd ZEE News Ltd PVR Ltd Cinemax India Ltd Dish TV India Ltd Magnasound India Ltd.**.. Hardware Allied Digital Services Ltd Telecom-Equipment & Accessories Avaya Global Connect Ltd Total Net Asset **Represents thinly traded/non traded securities. 9

10 A u g u s t 2 7 Birla Equity Plan An Open-ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years As on 31st July, 27 Style Box Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment. Date of inception / takeover : February 16, 1999 Growth* : 13. Dividend : 68.4 *Introduced with effect from 1st Oct, 26 Manager : Mr. Jayesh Gandhi Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : BSE Sensex Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Equity Plan Period Total (Rs.) Date of First Installment : March 1,1999 Value (Rs.) of SIP in Returns (%)* BSE Sensex Birla Equity Plan BSE Sensex Birla Equity Plan Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more Birla Equity Plan - Dividend BSE Sensex Software Telecom-Services Industrial Products Auto Auto Ancillaries Pharmaceuticals Banks Diversified Industries Construction Cement Consumer Non Durables Finance Ferrous Metals Power Industrial Capital Goods Gas Hotels Fertilisers Textile Products Other Equity 4.84% 4.55% 4.28% 3.89% 3.78% 3.13% 2.94% 2.72% 2.66% 2.62% 2.14% 2.12% 2.9% 2.2% 1.21% 9.56% 8.54% 7.64% 7.35% 6.4% 15.52% Software Satyam Computer Services Ltd Mphasis BFL Ltd i Infotech Ltd Tata Consultancy Services Ltd Everonn System India Ltd ** Telecom-Services Reliance Communications Ltd Bharti Airtel Ltd Industrial Products Kirloskar Oil Engines Ltd TRF Ltd Auto Maruti Udyog Ltd Mahindra & Mahindra Ltd Auto Ancillaries Goodyear India Ltd Automobile Corporation of Goa Ltd Pharmaceuticals Pfizer Ltd Cipla Ltd Torrent Pharmaceuticals Ltd Banks Federal Bank Ltd HDFC Bank Ltd Indian Bank Diversified Industries Aditya Birla Nuvo Ltd Construction Gammon India Ltd Cement Mangalam Cement Ltd Ultratech Cement Ltd Consumer Non Durables Tata Tea Ltd Ruchi Soya Industries Ltd Finance Infrastructure Development Fin. Co. Ltd Ferrous Metals Welspun Gujarat Stahl Rohren Ltd Power Tata Power Company Ltd Industrial Capital Goods Bharat Bijlee Ltd Bharat Electronics Ltd Gas Gujarat Gas Co. Ltd Hotels Taj GVK Hotels & Resorts Ltd Fertilisers Tata Chemicals Ltd Textile Products Gokaldas Exports Ltd Media & Entertainment Balaji Telefilims Ltd Total Net Asset **Represents thinly traded/ non traded securities Value Research Rating Birla Equity Plan Equity: Tax Planning (29 Schemes), 5 Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 1

11 Birla India GenNext A u g u s t 2 7 As on 31st July, 27 Style Box Style Value Blend Growth Size Large Small An Open-ended growth scheme with the objective to target growth of capital by investing in equity/equity related instruments of companies that are expected to benefit from the rising consumption patterns in India, which in turn is getting fuelled by high disposable incomes of the young generation (Generation Next). The scheme will invest in companies that have the following characteristics: 1. Companies that seek growth in revenues arising out of demand from the younger generation (GenNext) for their products or services. 2. They should be engaged in manufacturing of products or rendering of services that go directly to the consumer. 3. The products and services should have distinct brand identity, thereby enabling choice. Date of inception / takeover : August 5, 25 Growth : 18.3 Dividend : Manager : Mr. Jayesh Gandhi Entry Load : Rs. 5 crores % Exit Load : Rs. 5 crores -.5% if redeemed / switched out within 6 months Benchmark : S&P CNX NIFTY Corpus : Rs Crores Systematic Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla India GenNext... Period Total (Rs.) Date of First Installment : September 1, 25 Value (Rs.) of SIP in Returns (%)* S&P CNX NIFTY Birla India GenNext S&P CNX NIFTY Birla India GenNext Since Inception Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Consumer Non Durables 22.16% Telecom-Services 19.24% Banks 13.94% 3 2 Auto 1.25% 13.59% Media & Entertainment 8.64% 1 Pharmaceuticals 4.8% 1 Year Since Inception Birla India GenNext - Growth S&P CNX Nifty Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Finance Other Equity 3.14% 4.23% Consumer Non Durables United Spirits Ltd Tata Tea Ltd Britannia Industries Ltd Dabur India Ltd Colgate Palmolive (I) Ltd E.I.D. Parry (India) Ltd Eveready Industries Ltd Telecom-Services Reliance Communications Ltd Bharti Airtel Ltd Idea Cellular Ltd Banks Kotak Mahindra Bank Ltd Axis Bank Ltd Federal Bank Ltd Auto Maruti Udyog Ltd Mahindra & Mahindra Ltd Media & Entertainment Television Eighteen India Ltd HT Media Ltd Sun TV Ltd Pharmaceuticals Pfizer Ltd Finance Housing Development Finance Corp. Ltd Hotels Taj GVK Hotels & Resorts Ltd Retailing Shoppers Stop Ltd Total Net Asset

12 A u g u s t 2 7 Birla Advantage Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk through a diversified research based investment approach. Date of inception / takeover : February 24, 1995 Growth : Dividend : 1.14 Manager : Mr. Ajay Argal Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : BSE Sensex Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Advantage... Period Total (Rs.) Date of First Installment : March 1, 1995 Value (Rs.) of SIP in Returns (%)* BSE Sensex Birla Advantage BSE Sensex Birla Advantage Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Birla Advantage - Growth BSE Sensex Industrial Capital Goods Software Telecom-Services Consumer Non Durables Other Equity Petroleum Products Banks Construction Pharmaceuticals Ferrous Metals Pesticides Gas Finance 2.34% 2.25% 2.17% 2.15% 7.43% 7.15% 6.91% 6.6% 5.85% 9.42% 8.96% 11.% 13.97% 13.78% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Industrial Capital Goods Bharat Heavy Electricals Ltd Thermax Ltd AIA Engineering Ltd Bharat Electronics Ltd Bharati Shipyard Ltd Software Infosys Technologies Ltd Satyam Computer Services Ltd Subex Azure Ltd Tata Consultancy Services Ltd Mphasis BFL Ltd Telecom-Services Bharti Airtel Ltd Reliance Communications Ltd Spice Communications Ltd Consumer Non Durables ITC Ltd United Spirits Ltd Hindustan Lever Ltd Dabur India Ltd McDowell Holdings Ltd Petroleum Products Reliance Industries Ltd Hindustan Petroleum Corporation Ltd Banks ICICI Bank Ltd Axis Bank Ltd Oriental Bank of Commerce Indian Overseas Bank Construction Larsen & Toubro Ltd Nagarjuna Construction Co. Ltd IVRCL Infrastructures & Projects Ltd Dharti Dredging & Construction Ltd. **.. Pharmaceuticals Wockhardt Ltd Dishman Pharmaceuticals & Chemicals Ltd Nicholas Piramal India Ltd Glaxosmithkline Pharmaceuticals Ltd Ferrous Metals Maharashtra Seamless Ltd Pesticides United Phosphorous Ltd Gas Indraprastha Gas Ltd Finance Housing Development Finance Corp. Ltd Media & Entertainment Zee Entertainment Enterprises Ltd Deccan Chronicle Holdings Ltd Auto Ancillaries Kesoram Industries Ltd Amtek India Ltd Sundaram-Clayton Ltd Auto Tata Motors Ltd Oil Great Offshore Ltd Industrial Products Fag Bearings India Ltd Cement India Cements Ltd Paper Ballarpur Industries Ltd Fertilisers Deepak Fertilisers & Petrochemicals Corp Total Net Asset **Represents thinly traded/ non traded securities 12

13 Birla Infrastructure A u g u s t 2 7 As on 31st July, 27 Style Box Performance Style Value Blend Growth Size Large Small An open-end growth scheme with the objective to providing for medium to long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of companies that are participating in the growth and development of Infrastructure in India. Date of inception / takeover : March 17, 26 Growth : Dividend : Manager : Mr. Mahesh Patil Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : S&P CNX NIFTY Corpus : Rs Crores Year Since Inception Birla Infrastructure - Growth S&P CNX Nifty Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Industrial Capital Goods Construction Industrial Products Ferrous Metals Telecom-Services Cement Other Equity Auto Gas Petroleum Products Hotels 11.14% 8.5% 8.38% 8.32% 8.24% 7.21% 5.2% 4.48% 2.92% 2.6% 2.18% 31.1% Issuer Market Value % to Net Issuer Market Value % to Net Issuer Market Value % to Net Issuer Market Value % to Net Industrial Capital Goods Bharat Heavy Electricals Ltd Crompton Greaves Ltd Thermax Ltd Siemens Ltd Bharati Shipyard Ltd Bharat Electronics Ltd Jyoti Structures Ltd Kalpataru Power Transmission Ltd RPG Transmission Ltd Sadbhav Engineering Ltd Engineers India Ltd Hindustan Dorr-Oliver Ltd Construction Akruti Nirman Ltd Gammon India Ltd Nagarjuna Construction Co. Ltd Ansal Properties & Infrastructure Ltd Larsen & Toubro Ltd D.S. Kulkarni Developers Ltd Patel Engineering Ltd GVK Power & Infrastructure Ltd JMC Projects India Ltd IVRCL Infrastructures & Projects Ltd Simplex Projects Ltd. ** Industrial Products Kirloskar Oil Engines Ltd Cummins India Ltd Torrent Cables Ltd Kirloskar Brothers Ltd Ferrous Metals Jindal Steel & Power Ltd Jindal Saw Ltd Welspun Gujarat Stahl Rohren Ltd Telecom-Services Bharti Airtel Ltd Reliance Communications Ltd Cement Birla Corporation Ltd Grasim Industries Ltd India Cements Ltd Shree Cements Ltd Auto Mahindra & Mahindra Ltd Tata Motors Ltd Gas Gujarat Gas Co. Ltd Indraprastha Gas Ltd Petroleum Products Reliance Industries Ltd Hotels Taj GVK Hotels & Resorts Ltd Indian Hotels Co. Ltd Banks Andhra Bank ICICI Bank Ltd Finance Power Finance Corporation Ltd Transportation Container Corporation of India Ltd Power Power Trading Corporation of India Ltd Consumer Non Durables Hindustan Sanitaryware & Industries Ltd Total Net Asset Birla Index A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended index-linked growth scheme with the objective to generate returns commensurate with the performance of Nifty subject to tracking errors. Manager : Mr. Ajay Garg Date of inception / takeover : September 18, 22 Growth : Dividend : 17.7 Entry Load : NIL Exit Load : NIL Benchmark : S & P CNX Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Index Period Total (Rs.) Date of First Installment : October 1, 22 Value (Rs.) of SIP in Returns (%)* S&P CNX NIFTY Birla Index S&P CNX NIFTY Birla Index Since Inception Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Year 3 Years Since Inception Birla Index - Growth S&P CNX Nifty Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Issuer Market Value % to Gross Rs. in Lacs Assets 3, Total Net Asset 3, Total outstanding exposure in derivatives as on 31 July 27 is Rs Crores (Notional value). 13

14 A u g u s t 2 7 Birla Balance Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Interest Rate Sensitivity: (Debt) Medium Large Small An Open-ended balanced scheme with an objective to balance income requirements with growth of capital through a balance mix of investments in equity and debt at relatively moderate levels of risks through a diversified research based investment approach. Manager : Mr. Navneet Munot Date of inception / takeover : October 12, 1999 Growth : Dividend : 2.89 Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : CRISIL Corpus : Rs Crores Balanced Index Average Maturity : 3.88 Years SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Balance... Period Total (Rs.) Date of First Installment : November 1,1999 Value (Rs.) of SIP in Returns (%)* CRISIL Balanced Index Birla Balance CRISIL Balanced Index Birla Balance Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Consumer Non Durables PSU/PFI Bonds/Banks Auto Pharmaceuticals Corporate Debt Other Equity Software 5.72% 5.54% 4.84% 4.13% 9.62% 9.19% 17.82% 19.63% 1 5 Petroleum Products Fertilisers Pesticides 3.95% 3.95% 3.56% Birla Balance - Growth Crisil Balanced Index Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Banks Securitised Debt Industrial Products Government Bond 3.45% 3.34% 2.85% 2.42% Rating Profile Rating Rating Consumer Non Durables Hindustan Lever Ltd Radico Khaitan Ltd ITC Ltd E.I.D. Parry (India) Ltd United Spirits Ltd Glaxosmithkline Consumer Healthcare Ltd PSU/PFI Bonds/Banks Infrastructure Development Fin. Co. Ltd.** AAA Citibank N A** AAA National Bank for Agri & Rural Devp** AAA HDFC Bank Ltd.** AAA Auto Mahindra & Mahindra Ltd Hero Honda Motors Ltd Fertilisers Tata Chemicals Ltd Pesticides United Phosphorous Ltd Banks Oriental Bank of Commerce Securitised Debt Indian Retail ABS Trust Series 5** AAA(SO) Industrial Products BOC India Ltd Government Bond Govt Bond 7.61% Oil Company Sovereign Other AAA Sovereign 4.84% 2.42% 26.88% 65.87% Pharmaceuticals Pfizer Ltd Novartis India Ltd Wyeth Ltd Corporate Debt Housing Development Finance Corp. Ltd.** AAA Software Infosys Technologies Ltd HCL Technologies Ltd Telecom-Services Bharti Airtel Ltd Power Reliance Energy Ltd Oil Oil & Natural Gas Corporation Ltd Industrial Capital Goods Bharat Electronics Ltd Petroleum Products Reliance Industries Ltd Total Net Asset ** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 26.88% 14

15 Birla MNC A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk by making investments in securities of multi-national companies through a research based investment approach. Manager : Mr. Jayesh Gandhi Date of inception / takeover : December 27, 1999 Growth : Dividend : Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : S & P CNX MNC Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla MNC Period Total (Rs.) Date of First Installment : January 1, 2 Value (Rs.) of SIP in Returns (%)* S&P CNX MNC Birla MNC S&P CNX MNC Birla MNC Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Consumer Non Durables Pharmaceuticals Industrial Products Telecom-Services Industrial Capital Goods Banks Software Auto 8.38% 8.14% 7.88% 7.33% 6.3% 1.93% 13.6% 18.36% 5 Auto Ancillaries 5.74% Ferrous Metals 5.73% Birla MNC - Growth S&P CNX MNC Gas 5.46% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. 2.96% Consumer Non Durables Hindustan Lever Ltd Glaxosmithkline Consumer Healthcare Ltd Colgate Palmolive (I) Ltd ITC Ltd Kansai Nerolac Paints Ltd Pharmaceuticals Pfizer Ltd Fulford (India) Ltd Glaxosmithkline Pharmaceuticals Ltd Wyeth Ltd Industrial Products Cummins India Ltd ESAB India Ltd Fag Bearings India Ltd BOC India Ltd Telecom-Services Bharti Airtel Ltd Industrial Capital Goods Siemens Ltd ABB Ltd Banks ING Vysya Bank Ltd Software Mphasis BFL Ltd Subex Azure Ltd Allsec Technologies Ltd Auto Maruti Udyog Ltd Auto Ancillaries Sundaram-Clayton Ltd Federal Mogul Goetze (India) Ltd Ferrous Metals Sesa Goa Ltd Gas Gujarat Gas Co. Ltd Total Net Asset

16 A u g u s t 2 7 Birla Top 1 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An open-ended growth scheme with the objective to provide medium to longterm c a p i t a l a p p r e c i a t i o n, b y i n v e s t i n g predominantly in a diversified portfolio of equity and equity related securities of top 1 companies as measured by market capitalization. Date of inception / takeover : October 24, 25 Growth : 17.8 Dividend : Manager : Mr. Ajay Argal Entry Load : Rs. 5 crores % Exit Load : Rs. 5 crores -.5% if redeemed / switched out within 6 months Benchmark : S & P CNX Nifty Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Top 1... Period Total (Rs.) Date of First Installment : November 1, 25 Value (Rs.) of SIP in Returns (%)* S&P CNX NIFTY Birla Top 1 S&P CNX NIFTY Birla Top 1 Since Inception Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Software Telecom-Services Other Equity Petroleum Products 9.31% 9.83% 1.35% 11.72% 12.86% Consumer Non Durables Industrial Capital Goods Banks 7.82% 8.94% 8.9% 37 Construction 5.64% Year Since Inception Birla Top 1 - Growth S&P CNX Nifty Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Pharmaceuticals Auto Ancillaries Non - Ferrous Metals Finance 2.51% 2.2% 4.33% 5.58% Software Infosys Technologies Ltd Satyam Computer Services Ltd Tata Consultancy Services Ltd Subex Azure Ltd Telecom-Services Bharti Airtel Ltd Reliance Communications Ltd Petroleum Products Reliance Industries Ltd Reliance Petroleum Ltd Hindustan Petroleum Corporation Ltd Consumer Non Durables ITC Ltd United Spirits Ltd Hindustan Lever Ltd McDowell Holdings Ltd Asian Paints (India) Ltd Industrial Capital Goods Bharat Heavy Electricals Ltd Bharat Electronics Ltd Banks ICICI Bank Ltd HDFC Bank Ltd Oriental Bank of Commerce Construction Larsen & Toubro Ltd Nagarjuna Construction Co. Ltd Pharmaceuticals Dishman Pharmaceuticals & Chemicals Ltd Nicholas Piramal India Ltd Glaxosmithkline Pharmaceuticals Ltd Ranbaxy Laboratories Ltd Auto Ancillaries Motor Industries Company Ltd Apollo Tyres Ltd Non - Ferrous Metals Sterlite Industries (India) Ltd Finance Housing Development Finance Corp. Ltd Pesticides United Phosphorous Ltd Media & Entertainment Zee Entertainment Enterprises Ltd Ferrous Metals Jindal Saw Ltd Cement Grasim Industries Ltd Auto Tata Motors Ltd Oil Oil & Natural Gas Corporation Ltd Transportation Container Corporation of India Ltd Total Net Asset

17 Birla Sun Life Buy India A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small A multi-sector open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 1% equity, focusing on investing in businesses that are driven by India's large population and inherent consumption patterns. The focus of the scheme will be in the consumer and healthcare sectors. Date of inception / takeover : January 15, 2 Growth : Dividend : 2.51 Manager : Mr. Jayesh Gandhi Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : BSE 2 Corpus : Rs. 8.2 Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Buy India... Period Total (Rs.) Date of First Installment : March 1, 2 Value (Rs.) of SIP in Returns (%)* BSE 2 Birla Sun Life Buy India BSE 2 Birla Sun Life Buy India Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Consumer Non Durables Pharmaceuticals Telecom-Services Hotels 1.69% 13.64% 15.15% 26.51% Auto Auto Ancillaries 5.8% 5.48% 9.8% 1 Media & Entertainment 5.45% Birla SunLife Buy India - Growth BSE 2 Pesticides Gas 2.85% 4.48% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Other Equity.16% Consumer Non Durables United Spirits Ltd Kajaria Ceramics Ltd Tata Tea Ltd Marico Industries Ltd E.I.D. Parry (India) Ltd Ruchi Soya Industries Ltd Pharmaceuticals Sun Pharmaceutical Industries Ltd Cadila Healthcare Ltd Pfizer Ltd Telecom-Services Reliance Communications Ltd Bharti Airtel Ltd Hotels Asian Hotels Ltd Taj GVK Hotels & Resorts Ltd Auto Maruti Udyog Ltd Auto Ancillaries MRF Ltd Media & Entertainment PVR Ltd UTV Software Communications Ltd Magnasound India Ltd.**.. Pesticides Rallis India Ltd Gas Indraprastha Gas Ltd Retailing Trent Ltd. - Warrants** Total Net Asset **Represents thinly traded/non traded securities. 17

18 A u g u s t 2 7 Birla Sun Life Basic Industries Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small A multi-sector open-end growth scheme with the objective of long term growth capital, through a portfolio with a target allocation of 1% equity, focusing on investing in companies sensitive to economic cycles and commodity pricing cycles. The investments will be in companies which are often referred to as cyclical companies. Manager : Mr. Mahesh Patil Date of inception / takeover : January 15, 2 SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Basic Industries... Period Total (Rs.) Value (Rs.) of SIP in Returns (%)* BSE 2 Birla Sun Life Basic Industries BSE 2 Birla Sun Life Basic Industries Since Inception Last 5 years Last 3 years Last 1 year Growth : Dividend : Entry Load : Rs. 5 crores % Exit Load : NIL Date of First Installment : March 1, 2 The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. Benchmark : BSE 2 Corpus : Rs Crores *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Industrial Capital Goods Industrial Products Petroleum Products Ferrous Metals Construction Birla SunLife Basic Industries - Growth BSE 2 Finance 2.39% Cement Other Equity Auto Banks Industrial Services Fertilisers Power 2.47% 3.18% 2.58% 4.21% 5.37% 5.13% 5.7% 1.45% 1.33% 9.65% 8.82% 7.91% 22.45% Industrial Capital Goods Bharat Heavy Electricals Ltd Crompton Greaves Ltd Bharati Shipyard Ltd Thermax Ltd Action Construction Equipment Ltd Siemens Ltd Jyoti Structures Ltd AIA Engineering Ltd Industrial Products Kirloskar Oil Engines Ltd Cummins India Ltd Kirloskar Brothers Ltd BOC India Ltd Sintex Industries Ltd Petroleum Products Apar Industries Ltd Reliance Industries Ltd Chennai Petroleum Corporation Ltd Indian Oil Corporation Ltd Ferrous Metals Jindal Steel & Power Ltd Jindal Saw Ltd JSW Steel Ltd Maharashtra Seamless Ltd Construction Patel Engineering Ltd Nagarjuna Construction Co. Ltd Larsen & Toubro Ltd Akruti Nirman Ltd Gammon India Ltd Mahindra Gesco Developers Ltd Cement Grasim Industries Ltd Birla Corporation Ltd Mangalam Cement Ltd Auto Mahindra & Mahindra Ltd Maruti Udyog Ltd Banks ICICI Bank Ltd Andhra Bank Industrial Services South East Asia Marine Engin & Const Ltd Fertilisers Tata Chemicals Ltd Power Monnet Ispat Energy Ltd Finance Housing Development Finance Corp. Ltd Oil Oil & Natural Gas Corporation Ltd Pesticides United Phosphorous Ltd Consumer Non Durables SPL Industries Ltd Auto Ancillaries Kesoram Industries Ltd Chemicals Aarti Industries Ltd Paper Tamil Nadu Newsprint & Papers Ltd Total Net Asset

19 Birla India Opportunities A u g u s t 2 7 Style Box As on 31st July, 27 Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended growth scheme with the objective to achieve superior long-term growth of capital by investing in shares of companies that do one or more of the following: Leverage India's intellectual capital for providing services, research and creative inputs; Seek to use current and impending changes in patent laws / import tariffs / quotas to supply goods and services; Leverage India's lower labour costs for providing services and manufactured goods; Leverage India's large population of English speaking people for providing services. Date of inception / takeover : December 27, 1999 Growth : 54.6 Dividend : Manager : Mr. Ajay Garg Entry Load : Rs. 5 crores % Exit Load : Nil Benchmark : S & P CNX 5 Corpus : Rs Crores SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla India Opportunities... Period Total (Rs.) Date of First Installment : January 1, 2 Value (Rs.) of SIP in Returns (%)* S&P CNX 5 Birla India Opportunities S&P CNX 5 Birla India Opportunities Since Inception Last 5 years Last 3 years Last 1 year The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Software 38.27% Industrial Capital Goods Finance Pharmaceuticals Auto Ancillaries Industrial Products Pesticides 9.16% 8.31% 6.98% 4.76% 4.26% 18.37% 1 Telecom-Services 4.12% Textile Products Other Equity 1.55% 3.89% Birla India Opportunities - Growth S&P CNX 5.33% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Software Infosys Technologies Ltd Subex Azure Ltd Satyam Computer Services Ltd Tata Consultancy Services Ltd I-Flex Solutions Ltd Wipro Ltd Allsec Technologies Ltd Nucleus Software Exports Ltd KPIT Cummins Infosystem Ltd Industrial Capital Goods Siemens Ltd Crompton Greaves Ltd ABB Ltd Honeywell Automation India Ltd Finance United Breweries Holdings Ltd Pharmaceuticals Wockhardt Ltd Aventis Pharma Ltd Cipla Ltd Auto Ancillaries Bharat Forge Ltd Amtek India Ltd Industrial Products Cummins India Ltd Pesticides United Phosphorous Ltd Telecom-Services Videsh Sanchar Nigam Ltd Textile Products Raymond Ltd Gokaldas Exports Ltd IT Consulting & Services Innosoft Technology Ltd Total Net Asset

20 A u g u s t 2 7 Birla Dividend Yield Plus As on 31st July, 27 Style Box Systematic Plan (SIP) Style Value Blend Growth Size Large Small An Open-ended growth scheme with the objective to provide capital growth and income by investing primarily in a well-diversified portfolio of dividend paying companies that have a relatively high dividend yield. SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Dividend Yield Plus... Period Total (Rs.) Value (Rs.) of SIP in Returns (%)* S&P CNX 5 Birla Dividend Yield Plus S&P CNX 5 Birla Dividend Yield Plus Manager : Mr. Mahesh Patil Date of inception / takeover : February 26, 23 Since Inception Last 3 years Growth : Dividend : Entry Load : Rs. 5 crores % Exit Load : NIL Benchmark : S & P CNX 5 Corpus : Rs Crores Last 1 year Date of First Installment : March 1, 23 The data assumes the investment of Rs.1,/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) Performance Banks 44. Petroleum Products Consumer Non Durables Industrial Products Pharmaceuticals Other Equity Auto Fertilisers Paper 3.38% Hardware 3.35% Software 3.35% Chemicals 2.97% Transportation 2.75% 1 Year 3 Years Since Inception Oil 2.21% Birla Dividend Yield Plus - Growth S&P CNX 5 Power 2.6% 5.4% 4.55% 6.95% 9.85% 9.27% 9.19% 11.92% 11.47% 11.32% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Banks Andhra Bank Vijaya Bank Union Bank of India Indian Overseas Bank Bank of Baroda Canara Bank Petroleum Products Chennai Petroleum Corporation Ltd Indian Oil Corporation Ltd Castrol (India) Ltd Apar Industries Ltd Hindustan Petroleum Corporation Ltd Consumer Non Durables Kansai Nerolac Paints Ltd Hindustan Lever Ltd Glaxosmithkline Consumer Healthcare Ltd Berger Paints India Ltd Procter & Gamble Hygiene & Health Care Nestle India Ltd Godrej Consumer Products Ltd Eveready Industries Ltd Colgate Palmolive (I) Ltd Industrial Products Greaves Cotton Ltd ESAB India Ltd Cosmo Films Ltd ABC Bearings Ltd Pharmaceuticals Wyeth Ltd Pfizer Ltd Ranbaxy Laboratories Ltd Glaxosmithkline Pharmaceuticals Ltd Novartis India Ltd Auto Tata Motors Ltd Mahindra & Mahindra Ltd Ashok Leyland Ltd Hero Honda Motors Ltd Fertilisers Tata Chemicals Ltd Rashtriya Chemicals & Fertilizers Ltd Paper Tamil Nadu Newsprint & Papers Ltd Hardware Tata Elxsi Ltd HCL Infosystems Ltd Software HCL Technologies Ltd NIIT Technologies Ltd Chemicals Clariant Chemicals India Ltd Transportation The Great Eastern Shipping Co. Ltd Varun Shipping Company Ltd Oil Oil & Natural Gas Corporation Ltd Power Neyveli Lignite Corporation Ltd Monnet Ispat Energy Ltd Auto Ancillaries Sundaram-Clayton Ltd Goodyear India Ltd Rane (Madras) Ltd Wheels India Ltd Ferrous Metals Tata Metaliks Ltd Tata Sponge Iron Ltd Media & Entertainment Balaji Telefilims Ltd Gas Indraprastha Gas Ltd Finance LIC Housing Finance Ltd Telecom-Services Mahanagar Telephone Nigam Ltd Telecom-Equipment & Accessories Avaya Global Connect Ltd Total Net Asset

21 Birla Cash Plus A u g u s t 2 7 As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High Low Corpus : Rs Crores Benchmark : Crisil Liquid Index An Open-ended liquid scheme with the objective to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments. Manager : Mr. Navneet Munot Date of inception /takeover : June 16,1997 Load Structure Entry Load : NIL Exit Load : NIL Average Maturity :.17 Years Retail Growth : Retail Dividend : Institutional Growth : Institutional Dividend : Institutional Plan - Weekly Dividend Option : Institutional Plan - Fortnightly Dividend Option : Institutional Premium Plan - Growth : Institutional Premium Plan - Dividend : Institutional Premium Plan - Weekly Div. Option : Institutional Premium Plan - Fortnightly Div. Option : Institutional Premium Plan - Monthly Dividend : 1. Performance Money Market Instruments Floating Rate Instruments 14.38% 33.15% 43.26% Corporate Debt Securitised Debt Treasury Bills Rating Profile.32% 2.5% 6.83% 1 15 days 1 Month 3 Months Since Inception Birla Cash Plus - Retail - Growth Crisil Liquid Index Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. AAA AA Unrated Sovereign 2.4%.61%.32% 43.26% 53.78% Rating Rating Rating Money Market Instruments 355, ICICI Bank Ltd. 78, A1+ Union Bank of India 53, A1+ UCO Bank Ltd. 29, P1+ Industrial Development Bank of India Ltd 26, P1+ Punjab National Bank 11, P1+ ABN Amro Bank 11, P1+ State Bank of Patiala 1, A1+ Union Bank of India 1, P1+ Tata Motors Ltd. 9, P1+ Standard Chartered Bank 9, P1+ Federal Bank Ltd. 9, P1+ National Housing Bank 7, A1+ Aditya Birla Nuvo Ltd. 6, A1+ The Jammu and Kashmir Bank Ltd. 6, P1+ IndusInd Bank Ltd. 6, A1+ Allahabad Bank 5, PR1+ Canara Bank 5, P1+ GE Capital Services India Ltd. 4, P1+ State Bank of Saurashtra 4, A1+ Rabo India Finance Private Ltd. 4, P1+ State Bank of Travancore 3, A1+ Infrastructure Development Finance Co. 3, A1+ State Bank Of Bikaner And Jaipur 3, P1+ Reliance Capital Ltd. 2, A1+ Supreme Industries Ltd. 2, P1 Axis Bank Ltd. 2, P1+ Tata Power Company Ltd. 2, P1+ Export-Import Bank of India 2, P1+ Yes Bank Ltd. 2, A1+ State Bank of Mysore 2, A1+ OCL India Ltd. 1, A1+ Kotak Mahindra Bank Ltd. 1, P1+ IDBI Bank 1, A1+ NRB Bearing Ltd. 1, P1+ LIC Housing Finance Ltd. 1, P1+ Adlabs Films Ltd. 1, A1+ Allahabad Bank 1, P1+ Hongkong & Shanghai Banking Corp. Ltd. 1, F1+ Larsen & Toubro Finance Ltd. 1, PR1+ HCL Infosystems Ltd A1+ Rico Auto Industries Ltd A1+ Century Enka Ltd P1+ Karnataka Bank Ltd A1+ Floating Rate Instruments 154, ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 8.88% Housing Development Finance Corp. Ltd. 16, LAAA Reliance Capital Ltd. 16, A1+ ICICI Securities Ltd. 12, P1+ LIC Housing Finance Ltd. 7, AAA Industrial Development Bank of India Ltd 6, AA+ Cholamandalam s & Finance Ltd. 6,5..61 A1+ Citicorp Finance India Ltd. 6, AAA CitiFinancial Consumer Finance India Ltd 6,4..6 AAA Dr. Reddys Laboratories Ltd. 5,..47 P1+ Chambal Fertilizers & Chemicals Ltd. 5,..47 P1+ Fullerton India Credit Co. Ltd. 5,..47 A1+ Larsen & Toubro Ltd. 5,..47 P1+ Indian Railway Finance Corporation Ltd. 4, AAA Larsen & Toubro Finance Ltd. 4,..37 PR1+ UTI Bank Ltd. 3, LAA+ Global Trade Finance Pvt. Ltd. 3,4..32 P1+ ICICI Bank Ltd. 3,3..31 AAA Tata Motors Ltd. 3,..28 P1+ Power Finance Corp. Ltd. 2, AAA ICICI Bank Ltd. 2, CARE AAA Finolex Cables Ltd. 2,5..23 P1+ Dewan Housing Finance Corporation Ltd 2,5..23 P1+ Kotak Securities Ltd. 2,5..23 A1+ Raymond Ltd. 2,5..23 PR1+ Rabo India Finance Private Ltd. 2,5..23 AAA United Phosphorus Ltd. 2, AA Infrastructure Development Finance Co. 2, AAA Industrial Development Bank of India Ltd 1, CARE AA+ Cholamandalam s & Finance Ltd. 1,5..14 LAA Cholamandalam s & Finance Ltd. 1,5..14 LAA(So) Navneet Publications (India) Ltd. 1,5..14 P1+ Cholamandalam s & Finance Ltd. 1,..9 MAA+ Motherson Sumi Systems Ltd. 1,..9 A1+ Blue Star Ltd PR1+ ICICI Securities Ltd AAA Hero Honda Finlease Ltd P1+ Housing Development Finance Corp. Ltd AAA Union Bank of India AA+ IndiaRetail ABS Tr AAA(SO) Secured Loan Rec.Sec.Trust Sr3 (ICICI) LAAA Corporate Debt 73, DSP Merrill Lynch Capital. ** 2, P1+ Chambal Fertilizers & Chemicals Ltd. ** 1,..93 P1+ Multifaced Finstock Pvt Ltd. ** 1,..93 P1+ Kotak Securities Ltd. ** 5,..47 A1+ GE Capital Services India Ltd. ** 5,..47 AAA Ballarpur Industries Ltd. ** 3,5..33 Dewan Housing Finance Corporation Ltd ** 2, P1+ Ballarpur Industries Ltd. ** 2,5..23 F1+ United Phosphorus Ltd. ** 2,5..23 Blue Star Ltd. ** 2,..19 PR1+ Redington (India) Ltd. ** 1,5..14 P1+ Tata Sons Ltd. ** 1, AAA Hindalco Industries Ltd. ** 1, AA IL&FS Investmart Limited ** 1, F1+ Citicorp Maruti Finance Ltd. ** 1, AAA Berger Paints India Ltd ** 1,..9 P1+ Housing Development Finance Corp. Ltd. ** AAA Hindalco Industries Ltd. ** AAA Essel Propack Ltd. ** 5..5 Tata Steel Ltd. ** AAA Securitised Debt 21, Credit Asset Trust-V Hutch (27-Sep-27) ** 5, F1+ (SO) Corporate Loan Sec Sr 26 Trust 28 (A2) ** 3, P1+ (SO) Indian Ret ABS 78 Ser A1 (26 FEB 8) ** 2, A1+ (SO) Credit AssetTrust III (Hutchison Essar) ** 2, F1+ (SO) GPL Loan Trust Series I (GLENMAK PHARM) ** 2, F1+ (SO) Corporate Loan Sec Sr A1 LIC 6JUN8 ** 1, P1+ (SO) Indian Retail Abs Trust 63(A1) 24 Aug 7 ** LAAA (SO) BHPC Auto SecTrust Ser A1 TELCO 15Jun4 ** AAA (SO) TML Financial Services Ltd. ** P1+ (SO) Collateralised Debt Tr Sr V1-A2 25Apr8 ** P1+ (SO) Indian Corp Loan Sec Tr Sr 28 A2 27Apr8 ** P1+ (SO) Indian Retail ABS Trust Series 56 (A1X) ** AAA (SO) Auto Receivable Trust Aug 25 Series A1 ** AAA (SO) Corporate Loan Sec Tr Sr-V A1 (HCL) 28 ** A1+ (SO) Videsh Sanchar Nigam Ltd. ** P1+ (SO) BHPC Auto Sec Trust Jun 25 Series A1 ** AAA (SO) Retail Trust Hdfc Sr.-A1 (24-Sep-27) ** A1+ (SO) GoldStar Trust July 24 Series A2 PTC ** AAA (SO) UBL Trust Series 12 - A1 (27-Mar-26) ** AAA (SO) BHPC Auto SecTrust Ser A1 TELCO 15Jun4 ** AAA (SO) Indian Retail ABS Trust Series XXV - A2 ** AAA (SO) India Infrastructure Developers Limited ** AAA (SO) Treasury Bills 3, Days T-Bill 1 AUG 27 1, Sovereign 182 Days Tbill 28 DEC Sovereign 182 Day T-Bill 1 AUG Sovereign 464, Total Net Asset 1,72, Value Research Rating Birla Cash Plus - Institutional Premium Debt: Ultra Short-term Institutional (47 Schemes), 18 month ended 31-July-7 Value Research Rating Birla Cash Plus - Retail Debt: Ultra Short-term (47 Schemes), 18 month ended 31-July-7 CRISIL~CPR 2^^ Birla Cash Plus - Retail Plan Liquid Scheme (24 Schemes), 1 Yrs ended MFR 1 by ICRA Birla Cash Plus - Institutional Plan Open Ended Liquid Schemes - Institutional Plan (13 Schemes), 3 Yrs ended 31-Dec-6 CRISIL~CPR 2^^ Birla Cash Plus - Institutional Premium Plan Liquid Super Institutional Scheme (15 Schemes), 1 Yrs ended 3-June-7 CRISIL~CPR 2^^ Birla Cash Plus - Institutional Plan Liquid Institutional Scheme (13 Schemes), 1 Yrs ended 3-June-7 + mfa1+ by ICRA Birla Cash Plus + The grading has been assigned by ICRA and indicates highest quality. The investment quality is similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual scheme or of volatility in its returns. (Past performance is no guarantee of future results.) for methodology please refer page 39 21

22 A u g u s t 2 7 Style Box Birla MIP An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus As on 31st July, 27 Credit Quality High Med Low Interest Rate Sensivity High An Open-ended income scheme with the objective to generate regular income so as to make monthly distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus. Low Manager : Mr. Navneet Munot Date of inception/takeover : November 2, 2 Payment / Growth : Dividend : Benchmark : CRISIL MIP Blended Index Entry Load : NIL Exit Load : Rs 1 lakhs:.6% if redeemed / switched out with in 9 days from the date of allotment. > 1 Lakhs: Nil Average Maturity : 2.18 Years Corpus : Rs Crores Performance % 14 Corporate Debt 25.76% Equity PSU/PFI Bonds/Banks Securitised Debt 4.21% 3.4% 1.81% 8 6 Mutual Units.24% 4 Rating Profile 2 AAA 28.72% 55.94% Birla MIP - Growth Crisil MIP Blended Index Equity 11.5% AA 4.29% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Rating Corporate Debt 3, State Bank of India ** 1, AAA Great Eastern Shipping Company Ltd. ** AAA Sundaram Finance Ltd. ** AA+ Housing Development Finance Corp. Ltd. ** AAA EQUITY 1, Rallis India Ltd Pfizer Ltd Radico Khaitan Ltd ITC Ltd Hero Honda Motors Ltd Hindustan Lever Ltd Novartis India Ltd Oriental Bank of Commerce Rating Mahindra & Mahindra Ltd Reliance Industries Ltd United Phosphorous Ltd Reliance Energy Ltd Bharti Airtel Ltd United Spirits Ltd Allied Digital Services Ltd Everonn System India Ltd PSU/PFI Bonds/Banks Power Grid Corporation of India Ltd. ** AAA Indian Railways Finance Corp. Ltd. ** AAA Securitised Debt Ind Ret ABS Trust Ser 49(A4) 18 MAY 21 ** AAA(SO) Rating Mutual Units Birla Fixed Term Debt Ser 3-36 B , Total Net Asset 13, ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 33.1% 22

23 Birla Sun Life Monthly Income An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus As on 31st July, 27 A u g u s t 2 7 Style Box Credit Quality High Med Low Interest Rate Sensivity High An open-end income scheme with the primary objective to generate regular income so as to make monthly and quarterly distributions to Unitholders and the secondary objective as growth of capital. Monthly income is not assured and is subject to availability of distributable surplus. Low Manager : Mr. Navneet Munot Date of inception/takeover : July 14, 1999 Growth : Monthly Dividend : Quarterly Dividend : Benchmark : CRISIL MIP Blended Index Entry Load : NIL Exit Load : For redemption / switch out of units within 12 months from the date of allotment: 1% Average Maturity : 2.17 Years Corpus : Rs Crores Performance % Corporate Debt 3.71% PSU/PFI Bonds/Banks 18.7% Equity 12.9% Securitised Debt 3.24% 6 4 Rating Profile 2 Birla SunLife MIP - Growth Crisil MIP Blended Index AAA Equity AA 2.47% 12.9% 35.26% 5.18% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Rating Corporate Debt 4, Housing Development Finance Corp. Ltd.** 1, AAA Reliance Industries Ltd.** 1, AAA CitiFinancial Consumer Finance India Ltd** AAA Sundaram Finance Ltd.** AA+ State Bank of India** AAA PSU/PFI Bonds/Banks 2, Export-Import Bank of India** 1, AAA Infrastructure Development Fin. Co. Ltd.** AAA National Bank for Agri & Rural Devp** AAA Power Finance Corporation Ltd.** AAA EQUITY 1, Oriental Bank of Commerce United Breweries Holdings Ltd Rating Mahindra & Mahindra Ltd Rallis India Ltd Hero Honda Motors Ltd BOC India Ltd Cipla Ltd Pritish Nandy Communications Ltd McDowell Holdings Ltd ETC Networks Ltd Nirma Ltd United Phosphorous Ltd Nestle India Ltd Trent Ltd Gujarat Gas Co. Ltd Rashtriya Chemicals & Fertilizers Ltd Bharti Airtel Ltd Hindustan Sanitaryware & Industries Ltd Rating Subros Ltd United Breweries Ltd Magnasound India Ltd.** -. Securitised Debt Indian Retail ABS Trust Series 5** AAA(SO) India Infrastructure Developers Limited** AAA(SO) Fleet Trust July 24 A2 Series** AAA(SO) Fleet Trust April 24 Series** AAA(SO) 4, Total Net Asset 14, ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 52.65% Value Research Rating Birla Sun Life Monthly Income Plan Hybrid: Monthly Income (39 Schemes), 3 & 5 Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 CRISIL~CPR 1^^ Birla Sun Life Monthly Income MIP Conservative Scheme (9 Schemes), 2 Yrs ended 3-June-7 23

24 A u g u s t 2 7 Style Box Birla MIP II - Wealth 25 Plan An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus As on 31st July, 27 Credit Quality High Med Low Interest Rate Sensivity High An Open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus. Low Manager : Mr. Navneet Munot Date of inception/takeover : May 22, 24 Payment / Growth : Dividend : Benchmark : CRISIL MIP Blended Index Entry Load : NIL Exit Load : For redemption / switch out of units within 12 months from the date of allotment: 1% Average Maturity : 3.3 Years Corpus : Rs Crores Performance % Corporate Debt 29.75% Equity Government Bond 6.46% 18.73% PSU/PFI Bonds/Banks Mutual Units.33% 5.% 4 Rating Profile % 1 Year 3 Years Since Inception Birla MIP - Wealth 25 - Growth Crisil MIP Blended Index AAA Equity AA 9.8% 19.6% 24.95% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Sovereign 6.46% Rating Corporate Debt State Bank of India ** AAA Sundaram Finance Ltd. ** AA+ Great Eastern Shipping Company Ltd. ** AAA Housing Development Finance Corp. Ltd. ** AAA EQUITY Hindustan Lever Ltd Rallis India Ltd Hero Honda Motors Ltd Oriental Bank of Commerce Novartis India Ltd ITC Ltd Radico Khaitan Ltd Mahindra & Mahindra Ltd Pfizer Ltd Infosys Technologies Ltd Rating HCL Technologies Ltd ZF Steering Gear (India) Ltd Subros Ltd Aventis Pharma Ltd Reliance Industries Ltd Hindustan Sanitaryware & Industries Ltd BOC India Ltd Ballarpur Industries Ltd United Phosphorous Ltd Reliance Energy Ltd Bharti Airtel Ltd Tata Chemicals Ltd United Spirits Ltd Government Bond Govt Bond 8.2% OIL MKT & COS Sovereign Govt Bond 7.61% Oil Company Sovereign Rating PSU/PFI Bonds/Banks Export-Import Bank of India ** AAA Mutual Units Birla Fixed Term Debt Ser 3-36 B Total Net Asset ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 34.75% 24 Value Research Rating Birla MIP II Wealth 25 Plan Hybrid: Monthly Income (39 Schemes), 3 & 5Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39

25 Birla MIP II - Savings 5 Plan An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus As on 31st July, 27 A u g u s t 2 7 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus. Low Manager : Mr. Navneet Munot Date of inception/takeover : May 22, 24 Payment / Growth : Dividend : Entry Load : NIL Exit Load : NIL Average Maturity :.63 Years Benchmark : CRISIL MIP Blended Index Corpus : Rs Crores Performance Money Market Instruments 84.66% Securitised Debt 15.4% Rating Profile 2 1 Year 3 Years Since Inception Birla MIP - Savings 5 - Growth Crisil MIP Blended Index AAA 1% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Rating Money Market Instruments 55, ICICI Bank Ltd. 18, A1+ Housing Development Finance Corp. Ltd. 9, A1+ Allahabad Bank 8, PR1+ Hongkong And Shanghai Banking Corporation 7, F1+ Industrial Development Bank of India Ltd 6, P1+ Union Bank of India 4, P1+ State Bank of Patiala A1+ LIC Housing Finance Ltd P1+ Rating UCO Bank P1+ Securitised Debt 1, Corporate Loan Sec Sr A2 LIC 6JUN8 ** 1, P1+(SO) (38.9) -.6 Total Net Asset 65, ** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 15.4% 25

26 A u g u s t 2 7 Birla As on 31st July, 27 Aggressive Plan - Style Box Moderate Plan - Style Box Conservation Plan- Style Box Credit Quality Credit Quality Credit Quality High Med Low Interest Rate Sensivity High High Med Low Interest Rate Sensivity High High Med Low Interest Rate Sensivity High Low Low Low An Open-ended of s scheme with the objective to provide income and capital appreciation along with diversification by investing in a basket of debt and equity Mutual schemes in line with the risk profile of the investors. Managers : Mr. Satyabrata Mohanty & Mr. Ajay Garg Aggressive Plan Growth : Dividend : Conservative Plan Growth : Dividend : Moderate Plan Growth : Dividend : Date of inception / takeover : February 24, 24 Entry Load : Aggressive Plan : 1.5% Moderate Plan : 1.% Conservative Plan :.5% Exit Load : NIL Benchmark Aggressive Plan : S&P CNX Nifty Moderate Plan : Crisil Balanced Index Conservative Plan : Crisil MIP Blended Index Corpus Aggressive Plan : Rs Crores Moderate Plan : Rs. 4.6 Crores Conservative Plan : Rs Crores Performance - Aggressive Plan Performance - Moderate Plan Performance - Conservation Plan Year 3 Years Since Inception Birla AAF - Aggressive Plan - Growth S&P CNX Nifty 1 Year 3 Years Since Inception Birla AAF - Moderate Plan - Growth Crisil Balanced Index 1 Year 3 Years Since Inception Birla AAF - Conservative Plan - Growth Crisil MIP Blended Index Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. - Aggressive Plan - Moderate Plan - Conservation Plan Mutual Units Birla Sunlife Equity Birla cap Birla Sun Life New Millennium Birla Dynamic Bond Birla Sunlife Cash Manager-Retail Growth Birla Sunlife Short Term - Growth Birla Gilt Plus Inv Total Net Asset Mutual Units Birla cap Birla Dynamic Bond Birla Sunlife Equity Birla Sun Life New Millennium Birla Sunlife Short Term - Growth Birla Sunlife Cash Manager - Retail Growth Total Net Asset Mutual Units Birla Sunlife Short Term - Growth Birla Sun Life Income - Growth Birla cap Birla Sunlife Equity Birla Sun Life New Millennium Birla Dynamic Bond Total Net Asset Value Research Rating Birla - Aggressive Equity: Diversified (18 Schemes), 3 & 5 Yrs ended 31-July-7 Value Research Rating Birla - Moderate Hybrid: Equity-oriented (32 Schemes), 3 & 5 Yrs ended 31-July-7 Value Research Rating Birla - Conservative Hybrid: Debt-oriented (32 Schemes), 3 & 5 Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 26

27 Birla Sun Life Income A u g u s t 2 7 As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended income scheme with the objective to generate income and capital appreciation by investing 1% of the corpus in a diversified portfolio of debt and money market securities. Low Manager : Mr. Navneet Munot Date of inception/takeover : March 3, 1997 Growth : Half Yearly - Dividend : Quarterly Dividend : EA Growth : EA Dividend : EB Growth : EB Dividend : Entry Load : NIL Exit Load : Rs 1 lakhs:.6% if redeemed / switched out with in 18 days from the date of allotment. > 1 Lakhs: Nil Average Maturity : 3. Years Corpus : Rs Crores Benchmark : CRISIL Composite Bond Index Performance Corporate Debt PSU/PFI Bonds/Banks Treasury Bills Money Market Instruments 6.92% 12.77% 12.13% 16.99% 44.34% Floating Rate Instruments Securitised Debt 4.85% 1.99% 4 Rating Profile 2 AAA 67.91% 12.77% Birla SunLife Income - Growth Crisil Composite Bond Index Sovereign 12.13% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. AA 7.19% Rating Corporate Debt GE Money Financial Services Ltd. ** AAA Punjab National Bank ** AAA Housing Development Finance Corp. Ltd. ** AAA Sundaram Finance Ltd. ** LAA CitiFinancial Consumer Finance India Ltd. ** AAA LIC Housing Finance Ltd. ** AAA PSU/PFI Bonds/Banks Export-Import Bank of India ** AAA Rating Power Finance Corporation Ltd AAA Power Finance Corporation Ltd. ** AAA Treasury Bills Days T - Bill 1 AUG Sovereign Money Market Instruments State Bank of Saurashtra A1+ State Bank of Indore P1+ Rating Floating Rate Instruments Housing Development Finance Corp. Ltd LAAA Securitised Debt India Infrastructure Developers Ltd. ** AAA(SO) Fleet Trust April 24 Series **.75.2 AAA(SO) Total Net Asset ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 56.28% Value Research Rating Birla Sun Life Income Debt: Medium Term (5 Schemes), 3 Yrs ended 31-July-7 CRISIL~CPR 1^^ Birla Sun Life Income Income Scheme (17 Schemes), 2 Yrs ended 3-June-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 27

28 A u g u s t 2 7 Birla Sun Life Short Term As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended short term income scheme with the objective to generate income and capital appreciation by investing 1% of the corpus in a diversified portfolio of debt and money market securities with relatively low levels of interest rate risk. Low Manager : Mr. Navneet Munot Date of inception/takeover : April 19, 22 Growth : Monthly Dividend : Fortnightly Dividend : Benchmark : CRISIL Short-Term Bond Index Entry Load : NIL Exit Load :.25% for redemption / switch-out of units within fifteen (15) days from the date of allotment. Average Maturity : 1.14 Years Corpus : Rs Crores Performance 12 Money Market Instruments 38.12% Corporate Debt 33.28% Securitised Debt 2.8% Treasury Bills 2.23% 5.58% 4 Rating Profile 2 AAA 8.14% AA 12.6% Birla SunLife Short Term - Growth CRISIL Short-Term Bond Index 5.58% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Sovereign 2.23% Rating Money Market Instruments State Bank of Patiala A1+ ICICI Bank Ltd A1+ Punjab National Bank P1+ State Bank of Indore P1+ UCO Bank P1+ Housing Development Finance Corp. Ltd A1+ Allahabad Bank PR1+ Canara Bank P1+ Corporate Debt GE Money Financial Services Ltd. ** AAA CitiFinancial Consumer Finance India Ltd. ** AAA Housing Development Finance Corp. Ltd. ** AAA Sundaram Finance Ltd. ** LAA Rating Sundaram Finance Ltd. ** AA+ Securitised Debt Ind Ret ABS Trust Series 49(A4) 21 ** AAA(SO) Corporate Loan Sec Series 3 Trust 28 L&T Finance ** PR1+(SO) Credit Asset Trust Series XI (Hutch) 28 ** F1(IND)(SO) BHPC Auto Sec Trust Jun 5-Series A3 28 ** AAA(SO) Auto Receivable Trust- Aug-25 (Sundaram Finance) ** LAAA(SO) Treasury Bills Day T Bill 1 AUG Sovereign Total Net Asset **Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 54.8% Value Research Rating Birla Sun Life Short Term Debt: Short-term (22 Schemes), 18 months & 3 Yrs ended 31-July-7 CRISIL~CPR 1^^ Birla Sun Life Short Term Debt Short Term Scheme (13 Schemes), 1 Yrs ended 3-June-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 28

29 Birla Floating Rate A u g u s t 2 7 As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High Low An Open-ended income scheme with the objective to generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments. Manager : Mr. Satyabrata Mohanty Date of inception / takeover : June 5, 23 Long Term: Growth : Dividend : Weekly Dividend : 1.64 Short Term: Growth : Daily Dividend : 1.15 Weekly Dividend : Institutional Plan-Growth : Institutional Plan-Daily Dividend : 1.86 Institutional Plan-Weekly Dividend : Load Structure : Long Term (Incl. for SIP) Entry Load : Nil Exit Load : For any redemption / switch out of units within 7 days from the date of allotment :-.1% Short Term Entry Load : NIL Exit Load : NIL Average Maturity Long Term :.8 Years Short Term :.1 Years Corpus Long Term : Rs Crores Short Term : Rs Crores Benchmark Long Term : Crisil Liquid Index Short Term : Crisil Liquid Index Performance - Long Term Plan Year 3 Years Since Inception Birla Floating Rate - LTP - Growth Crisil Liquid Index Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Performance - Short Term Plan Past performance may or may not be sustained in future. Returns are in % and simple annualized for period less than 1 year & CAGR for period 1 year or more days 1 Month 3 Months Since Inception Birla Floating Rate - STP - Growth Crisil Liquid Index - Long Term Plan Rating Profile - Long Term Plan - Short Term Plan Rating Profile - Short Term Plan Cash & Current Assets Floating Rate Instruments Corporate Debt 3.16% 39.82% 57.2% Cash & Current Assets AAA AA 18.99% 23.99% 57.2% Floating Rate Instruments Money Market Instruments 1.87% 42.1% 56.12% AAA AA 14.29% 43.7% 42.1% - Long Term Plan Rating Floating Rate Instruments 3, LIC Housing Finance Ltd. 1, AAA Industrial Development Bank of India Ltd 1, AA+ Sundaram Finance Ltd LAA+ Corporate Debt Citicorp Finance India Ltd.** AAA 5, Total Net Asset 9, Short Term Plan Rating Floating Rate Instruments 8, Kotak Mahindra Prime Ltd. 2, P1+ Industrial Development Bank of India Ltd. 2, AA+ LIC Housing Finance Ltd. 2, AAA Citicorp Finance India Ltd. 1, AAA ICICI Bank Ltd AAA United Phosphorous Ltd AA Money Market Instruments ICICI Bank Ltd A1+ 6, Total Net Asset 14, ** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 3.16% + mfaaa by ICRA Birla Floating Rate + The grading has been assigned by ICRA and indicates highest quality. The investment quality is similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual scheme or of volatility in its returns. (Past performance is no guarantee of future results.) for methodology please refer page 39 29

30 A u g u s t 2 7 Birla Sun Life Liquid Plus (Earlier known as Birla Bond Plus) As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended short term income scheme with the objective to generate regular returns through investments in debt and money market securities. Low Insititutional Plan- Daily Dividend : 1.68 Insititutional Plan- Weekly Dividend : Institution Plan- Fortnightly Dividend : Institutional Growth : Retail - Monthly Dividend : Retail - Weekly Dividend : Retail Fortnightly Dividend : Retail Growth : Manager : Mr. Navneet Munot Date of inception / takeover Retail Plan : November 27, 21 Institutional Plan : April 16, 23 Entry Load : NIL Exit Load : For redemption / switch out of units within seven days from the date of allotment:.1% Average Maturity :.37 Years Corpus : Rs Crores Benchmark : CRISIL Short-Term Bond Index Performance Money Market Instruments 48% Securitised Debt Corporate Debt 5% 11% 34.6% 5 PSU/PFI Bonds/Banks 1% Floating Rate Instruments % Rating Profile 1 AAA 55.46% 34.6% Birla SunLife Liquid Plus - Retail - Growth CRISIL Short-Term Bond Index AA 6.51% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Unrated 3.43% Rating Money Market Instruments State Bank of Patiala A1+ ICICI Bank Ltd A1+ Union Bank of India A1+ Canara Bank P1+ Hongkong And Shanghai Banking Corporation F1+ Punjab National Bank P1+ ABN Amro Bank P1+ Karnataka Bank Ltd A1+ UCO Bank P1+ Yes Bank Ltd A1+ GE Money Financial Services Ltd P1+ Industrial Development Bank of India Ltd P1+ Edelweiss Securities Ltd P1+ GE Capital Services India Ltd P1+ Apollo Tyres Ltd P1+ Allahabad Bank PR1+ Infrastructure Development Finance Co. Ltd A1+ State Bank of Indore P1+ Securitised Debt Credit Asset Trust Series XI (Hutch) 28 ** F1(IND)(SO) Corporate Loan Sec Series 29 (A2) Trust 28 ** A1+(SO) GE Cap Services (I) KGL Loan Trust Series A2 27 ** A1+(SO) Corporate Loan Sec Series 27 Trust 28 (A2) ** P1+(SO) Corporate Loan Sec Series 3 Trust 28 L&T Finance ** PR1+(SO) Loan Sec Trust Series XVI NTPC (ICICI Bank) ** AAA(SO) Rating Loan Sec Trust Series XII NTPC (ICICI) ** AAA(SO) Indian Retail ABS Trust Series 5 ** AAA(SO) Corporate Loan Sec Series 29(A1) Trust 28 ** A1+(SO) Corporate Loan Sec Series 3 A1 28 L&T Finance ** PR1+(SO) Corporate Debt Nicholas Piramal India Ltd. ** Unrated Ranbaxy Holding Company ** Unrated United Phosphorus Ltd. ** Unrated Kotak Securities Ltd. ** A1+ L&T Finance Ltd. ** Unrated Housing Development Finance Corp. Ltd. ** AAA Tata Sons Ltd. ** AAA CitiFinancial Consumer Finance India Ltd AAA Sundaram Finance Ltd. ** AA+ Export-Import Bank of India ** AAA GE Money Financial Services Ltd. ** AAA PSU/PFI Bonds/Banks National Bank for Agricultural & Rural Development ** AAA Infrastructure Development Finance Co. Ltd. ** AAA Floating Rate Instruments Tata Sons Ltd AAA Total Net Asset **Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 16.88% 3 * AAAf by CRISIL Birla Sun Life Liquid Plus (Past performance is no guarantee of future results.) for methodology please refer page 39

31 Birla Dynamic Bond A u g u s t 2 7 As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended income scheme with the objective to generate optimal returns with high liquidity through active management of the portfolio by investing in high quality debt and money market instruments. Low Retail Growth : Retail Dividend : Manager : Mr. Navneet Munot Entry Load : NIL Exit Load : NIL Date of inception / takeover : September 27, 24 Average Maturity :.84 Years Corpus : Rs Crores Benchmark : CRISIL Composite Bond Index Performance Rating Money Market Instruments ICICI Bank Ltd A Money Market Instruments Corporate Debt 16.43% 82.64% Corporate Debt ICICI Bank Ltd. ** AAA CitiFinancial Consumer Finance India Ltd. ** AAA Total Net Asset Year Since Inception Birla Dynamic Bond - Retail - Growth Crisil Composite Bond Index.93% Rating Profile AAA.93% 99.7% ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 16.43% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Birla Bond Index A u g u s t 2 7 As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High Low An Open-ended income scheme with the objective of tracking the CRISIL Composite Bond Index which has been introduced by CRISIL to track the returns on a composite portfolio that includes call instruments, commercial papers, government securities, AAA & AA rated instruments. Manager : Mr. Satyabrata Mohanty Date of inception / takeover : May 9, 23 Growth : Dividend : Average Maturity :.87 Years Entry Load : NIL > 1 Lakhs: Nil Exit Load : Rs 1 lakhs:.25% if redeemed / switched out with in 9 days from the date of allotment. Corpus Benchmark : : Rs..47 Crores CRISIL Composite Bond Index Performance Rating Corporate Debt Oriental Bank of Commerce ** AA+ PSU/PFI Bonds/Banks Power Finance Corporation Ltd AAA Government Bond Govt Bond 9.39% Sovereign Corporate Debt PSU/PFI Bonds/Banks Government Bond 4.42% Rating Profile 21.16% 2.63% 53.8% % Total Net Asset ** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 21.16% 1 Year 3 Years Since Inception Birla Bond Index - Growth Crisil Composite Bond Index Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. AA AAA Sovereign 4.42% 21.16% 2.63% 31

32 A u g u s t 2 7 Birla Income Plus As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended income scheme with the objective to generate consistent income through superior yields on its investments at moderate levels of risk through a diversified investment approach. Low Manager : Mr. Navneet Munot Date of inception/takeover : October 21, 1995 Growth : Dividend : Benchmark : CRISIL Composite Bond Index Entry Load : NIL Exit Load : Rs 1 lakhs:.6% if redeemed / switched out with in 18 days from the date of allotment. > 1 Lakhs: Nil Average Maturity : 6.37 Years Corpus : Rs Crores Performance 12 Corporate Debt 55.56% % PSU/PFI Bonds/Banks 12.86% 8 Government Bond 9.64% Money Market Instruments.62% 4 Rating Profile 2 AAA 55.5% 21.32% Birla Income Plus - Growth Crisil Composite Bond Index AA 13.54% Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Sovereign 9.64% Issuer Market Value % to Net Rating Corporate Debt Housing Development Finance Corp. Ltd. ** AAA Sundaram Finance Ltd. ** LAA Punjab National Bank ** AAA GE Money Financial Services Ltd. ** AAA CitiFinancial Consumer Finance India Ltd. ** AAA State Bank of India ** AAA State Bank of Travancore ** AAA LIC Housing Finance Ltd. ** AAA Sundaram Finance Ltd. ** AA+ Citicorp Finance India Ltd. ** AAA Kotak Mahindra Prime Ltd. ** LAA Mahindra & Mahindra Financial Services Ltd. ** AA+ Issuer Market Value % to Net Rating Cholamandalam DBS Finance Ltd. ** AA+ IL&FS Investmart Ltd. ** LAAA(SO) Hindalco Industries Ltd. ** AA Reliance Industries Ltd. ** AAA Oriental Bank of Commerce ** AA+ PSU/PFI Bonds/Banks Export-Import Bank of India ** AAA Indian Railways Finance Corp. Ltd. ** AAA Power Grid Corporation of India Ltd. ** AAA Power Finance Corporation Ltd AAA Power Finance Corporation Ltd AAA Power Finance Corporation Ltd. ** AAA Issuer Market Value % to Net Rating National Bank for Agricultural & Rural Development ** AAA Government Bond Govt Bond 8.2% OIL MKT & COS Sovereign Money Market Instruments State Bank of Saurashtra A Total Net Asset ** Represents thinly traded/non traded securities. Total Percentage of thinly/non traded securities is 66.61% Value Research Rating Birla Income Plus Debt: Medium-term (5 Schemes), 3 yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 32

33 Birla Sun Life Cash Manager An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus As on 31st July, 27 A u g u s t 2 7 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended liquid scheme with the objective to provide current income which is consistent with a portfolio that offers investors superior liquidity by investing 1% in a diversified portfolio of debt (Fixed Income) and money market securities. Low Manager : Mr. Navneet Munot Date of inception/takeover : May 14, 1998 Retail Growth : Retail Weekly Dividend : 1.11 Institutional Growth : Institutional Daily Dividend : 1.3 Institutional Weekly Dividend : Load Structure Entry Load : NIL Exit Load : NIL Average Maturity :.11 Years Benchmark : Crisil Liquid Index Corpus : Rs Crores Performance Money Market Instruments 76.6% % Rating Profile 1 15 days 1 Month 3 Months Since Inception AAA 76.6% Birla SunLife Cash Manager - Growth Crisil Liquid Index 23.94% Past performance may or may not be sustained in future. Returns are in % and simple annualized for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Rating Money Market Instruments 21, Industrial Development Bank of India Ltd. 6, P1+ State Bank of Patiala 4, A1+ UCO Bank 3, P1+ Karnataka Bank Ltd. 3, A1+ State Bank of Mysore P1+ ABN Amro Bank P1+ ICICI Bank Ltd A1+ Rating Axis Bank Ltd P1+ 6, Total Net Asset 27, AAAf by CRISIL* Birla Sun Life Cash Manager (Past performance is no guarantee of future results.) for methodology please refer page 39 33

34 A u g u s t 2 7 Birla Sun Life Government Securities As on 31st July, 27 Long Term - Style Box Short Term - Style Box Credit Quality High Med Low Interest Rate Sensivity High Credit Quality High Med Low Interest Rate Sensivity High An Open-ended Gilt scheme with the objective to provide investors current income consistent with a portfolio invested 1% in securities issued by the Government of India or the State Governments, and the secondary objective is capital appreciation. Low Low Manager : Mr. Navneet Munot Long Term Plan Growth : Dividend : Short Term Plan Growth : Dividend : Entry Load : NIL Exit Load : NIL Benchmark Long Term Plan : I-Sec Li-BEX Short Term Plan : I-Sec Si-BEX Date of inception / takeover : October 28, 1999 Average Maturity Long Term Plan :.4 Years Short Term Plan :.38 Years Corpus Long Term Plan : Rs Crores Short Term Plan : Rs..32 Crores Long Term Plan - Performance Short Term Plan - Performance Birla SunLife G Sec - LT - Growth I-Sec Li-BEX Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Birla SunLife G Sec - STD - Growth I-Sec Si-BEX Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. - Long Term Plan - Short Term Plan Treasury Bills 96.5% Treasury Bills 91.54% 3.5% 8.46% - Long Term Plan Rating Treasury Bills Day TBill 28 DEC Sovereign Total Net Asset Short Term Plan Rating Treasury Bills Day TBill 28 DEC Sovereign Total Net Asset Value Research Rating Birla Sun Life Government Securities - Short Term Plan Gilt: Short-term (16 Schemes), 18 months & 3 Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page 39 34

35 Birla Gilt Plus A u g u s t 2 7 As on 31st July, 27 Style Box Credit Quality High Med Low Interest Rate Sensivity High An Open-ended government securities scheme with the objective to generate income and capital appreciation through investments exclusively in Government Securities. Low Liquid Plan Growth : Quarterly Dividend : Annual Dividend : PF Plan Growth : Quarterly Dividend : Annual Dividend : Regular Plan Growth : Quarterly Dividend : Annual Dividend : Manager : Mr. Navneet Munot Date of inception / takeover : October 12, 1999 Liquid Plan, Regular Plan & PF Plan-Quarterly / Annual Dividend: Entry Load : NIL Exit Load : NIL PF Plan - Growth: Entry Load : NIL Exit Load : 1.% if redeemed / switched out within 365 days from date of allotment. Average Maturity Liquid Plan :.14 Years PF Plan : 1.44 Years Regular Plan : 1.84 Years Benchmark Liquid Plan : I-Sec Si-BEX PF Plan : I-Sec Li-BEX Regular Plan : I-Sec Li-BEX Corpus Liquid Plan : Rs Crores PF Plan : Rs Crores Regular Plan : Rs Crores Performance - Liquid Plan Performance - PF Plan Performance - Regular Plan Birla Gilt Plus Liquid Plan I-Sec Si-BEX 2 Birla Gilt Plus PF Plan - Growth I-Sec Li-BEX 2 Birla Gilt Plus Regular Plan - Growth I-Sec Li-BEX Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown. - Liquid Plan - PF Plan - Regular Plan 66.69% 92.69% 9.59% Treasury Bills 33.31% Government Bond 7.31% Government Bond 9.41% - Liquid Plan - PF Plan - Regular Plan Rating Treasury Bills Day TBill 28 DEC Sovereign Total Net Asset Rating Government Bond Govt Bond 8.23% FCI SB Sovereign Total Net Asset Rating Government Bond Govt Bond 8.23% FCI SB Sovereign Total Net Asset Value Research Rating Birla Gilt Plus - Liquid Plan Gilt: Short-term (16 Schemes), 18 months & 3 Yrs ended 31-July-7 & Best -Lipper Awards India 27 Birla Gilt Plus - Regular Plan Bond Indian Rupee-Government, 5 Yrs ended 31-Dec-6 CRISIL~CPR 2^^ Birla Gilt Plus - Regular Plan Gilt Scheme (15 Schemes), 2 Yrs ended 3-June-7 Value Research Rating Birla Gilt Plus - Regular Plan Gilt: Medium & Long-term (43 Schemes), 18 months & 3 Yrs ended 31-July-7 (Past performance is no guarantee of future results.) for methodology please refer page MFR 1 by ICRA Birla Gilt Plus - Liquid Plan Open Ended Gilt Schemes - ShortTerm(12 Schemes), 3 Yrs ended 31-Dec-6 35

36 A u g u s t 2 7 India Advantage Ltd. (For Non-Resident Indians and Eligible Foreign Nationals) As on 31st July, 27 Style Box Style Value Blend Growth Size Large An Open-ended growth scheme with the objective of long-term appreciation through investment primarily in equity related securities of companies in India that are run by efficient management, have a sustainable and robust business model and are available at reasonable valuations. Small Manager : Mr. Ajay Argal Date of inception / takeover : August 8, 1996 NAV $ per Class C Share : Benchmark : BSE Sensex and MSCI (India) Conversion Rate 1 USD : INR 4.44 AUM : USD Million Bloomberg Ticker Code : INDADVC MP Performance CAGR Returns (%) 8% Industrial Capital 14.9% 7% 65.99% 68.23% Software Telecom-Services Petroleum Products 9.6% 1.55% 14.85% 6% 5% 4% 3% 44.74% 48.62% 49.37% 47.21% 42.57% 44.35% 41.33% 56.41% 42.39% 39.6% 29.96% 32.13% Consumer Non Banks Pharmaceuticals Construction Industrial Products Ferrous Metals Pesticides Finance Gas 3.66% 2.84% 2.52% 2.48% 2.36% 4.62% 5.3% 7.68% 9.5% 2% 13.69% 15.16% Shipping Auto Ancillaries 1.75% 1.49% 1% Auto Cement 1.44% 1.2% % 1 Year 2 Year 3 Year 5 Year 1 year Since Inception Oil Health Care Communications 1.7%.86%.75% India Advantage BSE Sensex MSCI (India) Chemicals Fertilisers.68%.65% Broadcasting & Cable TV.4% Trent Ltd - Warrants.11% Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. The returns for BSE Sensex are in Indian Rupees while the returns for IAF & MSCI (India) are in US Dollars. Name of the Security Sector Market Value Percentage (US Dollars) of Bharti Airtel Ltd Telecom-Services 13,739, Bharat Heavy Electricals Ltd. Industrial Capital Goods 13,33, Reliance Industries Ltd. Petroleum Products 11,698, Infosys Technologies Ltd. Software 9,778, ITC Ltd. Consumer Non Durables 6,927, Satyam Computers Services Ltd. Software 5,639, ICICI Bank Ltd. Banks 5,51, United Spirits Ltd. Consumer Non Durables 5,441, Reliance Communications Ventures Ltd Telecom-Services 5,319, Maharashtra Seamless Ltd Ferrous Metals 5,132, Larsen & Toubro Ltd. Construction 5,27, United Phosphorus Ltd. Pesticides 4,545, Housing Development Finance Corporation Ltd. Finance 4,487, Tata Consultancy Services Ltd Software 4,468, Subex Systems Ltd. Software 4,359, Wockhardt Ltd Pharmaceuticals 4,31, Indraprastha Gas Gas 4,272, Thermax Ltd. Industrial Capital Goods 4,219, Bharat Electronics Ltd. Industrial Capital Goods 3,847, Aia Engineering Ltd. Industrial Capital Goods 3,734, Fag Bearings India Ltd. Industrial Products 3,73, Hindustan Lever Ltd. Consumer Non Durables 3,571, Oriental Bank Of Commerce Banks 3,52, Nagarjuna Construction Co. Ltd. Construction 3,318, Union Bank Of India Banks 2,984, Greaves Cotton Ltd. Industrial Products 2,885, Great Offshore Ltd. Shipping 2,735, Tata Motors Ltd. Auto 2,593, Mphasis BFL Ltd. Software 2,591, Glaxo Smithkline Pharma Ltd. Pharmaceuticals 2,581, Hindustan Petroleum Corporation Ltd. Petroleum Products 2,462, Amtek India Ltd. Auto Ancillaries 2,268, Name of the Security Sector Market Value Percentage (US Dollars) of Reliance Petro Ltd. Petroleum Products 2,27, India Cements Ltd Cement 2,165, Oil & Natural Gas Corporation Ltd. Oil 1,929, Indian Overseas Bank Banks 1,868, Engineers (India) Industrial Capital Goods 1,817, Dabur India Ltd Health Care Equipment 1,553, Spice Communications Communications 1,35, Bombay Dyeing Ltd. Chemicals 1,233, Tata Chemicals Ltd. Fertilisers 1,173, Dishman Pharmaceuticals PHARMACEUTICALS 863, Pfizer India Ltd. Pharmaceuticals 74, Zee Telefilms Ltd. Broadcasting & Cable TV 73, Nicholas Piramal India Ltd. Pharmaceuticals 63, Bharat Forge Ltd. Auto Ancillaries 423, Bharti Shipyard Shipping 423, Mcdowell Holdings Ltd. Consumer Non Durables 41, Total Equity Holdings 18,477, CALL & CALL EQUIVALENTS : BCPB Cash and Cash Equivalent CORPORATE DEBT : Trent Ltd Trent Ltd - Warrants 197, TOTAL 18,675, OTHER NET ASSETS (SUB FUND) 15,87, OTHER NET ASSETS (MAIN FUND) 25,942.1 NET ASSETS 195,968, via sub-fund, India Advantage (Offshore), are stated at market/fair value at the date of determination. Securities listed on a recognised stock exchange are valued at the last quoted closing price on the principal exchange on which the security istraded Non-traded securities are valued at amortised cost and/or fair value as determined in good faith by Birla Sun Life Asset Management Company Limited, India, Conversion Rate: 1 USD = INR 4.44 'C' Class shares of India Advantage Ltd. listed on Channel Islands Stock Exchange (CISX) with effect from 15th February CISX Mnemonic Code - IAFC

37 Dividend History (For select Schemes) A u g u s t 2 7 EQUITY SCHEMES EQUITY SCHEMES Declared Dividend Dividend Face value Cum Dividend NAV on date (%) (Rs. per unit) (Rs.) (Rs. per unit) Birla Advantage 27-Aug Mar Nov Jan Mar Mar Dec Birla Equity Plan 31-Mar Feb Oct Mar Oct Dec Feb Birla Sun Life Equity 1-Feb Mar Birla India Opportunities 4-Feb Jan Feb Oct Sep Birla India GenNext 19-Jun Birla MNC 22-Feb Aug Jan Aug Birla cap 24-Jan Jun Jul Dec Oct Jan Feb Dec Birla Dividend Yield Plus 3-May Jun EQUITY SCHEMES Declared Dividend Dividend Face value Cum Dividend NAV on date (%) (Rs. per unit) (Rs.) (Rs. per unit) Birla Dividend Yield Plus 24-Jul Sept Oct Dec Feb Sep Dec Mar July Oct Jan April Oct April Birla Index 17-Oct Feb Mar Birla Balance 17-Oct Jan Birla Sun Life New Millennium 27-Jan Birla Sun Life Frontline Equity 27-Feb Aug Jun Birla Sun Life Basic Industries 24-Mar Dividend 19-Jan Birla Sun Life Buy India - 28-Mar Dividend Birla Sun Life '95 -Dividend 1-Mar Birla Sun Life Tax Relief Apr Dec Jan Mar Birla Top 1 - Dividend 12-Jan DEBT SCHEMES Non Corporate Corporate DEBT SCHEMES Date Face Value Dividend Dividend Dividend Dividend Cum Dividend NAV (%) (Rs. per unit) (%) (Rs. per unit) (Rs. per unit) Birla Income Plus 16-Mar June Sep Dec Mar Jun Birla Bond Index 16-Mar June Sep Dec Mar Jun Birla Gilt Plus - Liquid Plan - 16-Mar (Quarterly Dividend) 26-June Dec Sep Mar Jun Birla Gilt Plus - PF Plan 16-Mar (Quarterly Dividend) 26-June Dec Sep Mar Jun Birla Gilt Plus - Regular Plan 16-Mar (Quarterly Dividend) 26-June Dec Sep Mar Jun Birla MIP (Monthly Dividend Plan) 26-June July Aug Sep Oct

38 A u g u s t 2 7 Dividend History (For select Schemes) 38 Non Corporate Corporate DEBT SCHEMES Date Face Value Dividend Dividend Dividend Dividend Cum Dividend NAV (%) (Rs. per unit) (%) (Rs. per unit) (Rs. per unit) Birla MIP (Monthly Dividend Plan) DEBT SCHEMES 24-Nov Dec Jan Feb Mar April May Jun July Birla MIP II - Savings 5 Plan (Monthly Dividend Plan) 26-June-6 28-July Aug Sep Oct Nov Dec Jan Feb Mar April May Jun July Birla MIP II - Wealth 25 Plan 26-June (Monthly Dividend Plan) 28-July Aug Sep Oct Nov Dec Jan Feb Mar April May Jun July Birla Sun Life Monthly Income - 3-June Monthly Dividend 28-July Aug Sep Oct Nov Dec Jan Feb Mar April May Jun July Birla Sun Life Monthly Income - 31-Mar Quarterly Dividend 29-Sep Dec Mar Jun July Birla Sun Life Income - 16-Mar Quarterly Dividend 15-Sep Dec Jun Mar Jun Birla Sun Life Income - 16-Mar Half Yearly Dividend 15-Sep Mar Birla Sun Life Govt. Securities - 16-Mar Long Term Dividend 15-Sep Mar Birla Sun Life Govt. Securities - 16-Mar Short Term Dividend 26-June Dec Sep Mar Jun Birla Dynamic Bond - Retail - 29-Sep Quarterly Dividend 29-Dec Mar July

39 Methodology of Ranking A u g u s t 2 7 Value Research Ratings The Ratings are a Composite Measure of historical Risk-Adjusted Returns. For Equity and Hybrid s, Ratings for the two time periods (3 and 5 years) are combined to give a single assessment of each fund s risk rating vis-à-vis other funds in the category. For Debt funds and Long & Medium-term Gilt funds, the Ratings are arrived at by combining the assessment for 2 time periods (18 months and 3 years), based on weekly risk-adjusted performance. For Short-term and Ultra Short-term debt funds and Short-term Gilt funds, the Ratings are based on 18-month weekly risk-adjusted performance, relative to the other funds in category. Entry/Exit Loads not considered. 5-stars indicate that fund is in top 1% of its category. 4-stars indicate that fund is in next 22.5% of its category. Following is the number of schemes in each category: Equity Diversified (18), Equity: Index (22), Equity Tax Planning (29), Hybrid: Equity Oriented (32), Hybrid: Debtoriented (34), Hybrid: Monthly Income (39), Debt: MT (5), Debt: ST (22), Debt: Ultra ST (47), Debt: Ultra ST-Inst. (47), Debt: Floating Rate ST (22) Debt: Floating Rate LT (13), Gilt: Medium and LT (43), Gilt: ST (16). Ratings are as on 31 July 7. Ranking Source: Mutual s ICRA Ranking Methodology and Disclaimer Birla Sun Life Equity (Category: Open Ended Diversified Equity Defensive, No of Schemes = 32), Birla Gilt Plus Liquid Plan (Category: Open Ended Gilt Short Term, No of Schemes = 12), Birla Cash Plus Institutional Plan (Category: Open Ended Liquid Institutional Plan, No of Schemes = 13): are ranked ICRA MFR 1 by ICRA Mutual s Awards 27 for 3 yr performance for period ended 31 Dec. 6 indicating performance within top 1% of the category. Ranks are based on in-depth analysis of critical parameters, including: risk-adjusted performance; portfolio concentration characteristics; liquidity; corpus size; average maturity; and portfolio turnover. Entry/Exit Loads not considered. Ranking Source & Publisher: ICRA Online. + ICRA mfaaa and mfa1+ Rating Methodology for Birla Floating Rate (Short Term & Long Term) and Birla Cash Plus Respectively Birla Floating Rate Short Term & Birla Floating Rate Long Term: The credit risk rating assigned to the schemes is mfaaa. The rating is the highest-credit-quality rating assigned by ICRA to debt funds. Birla Cash Plus: The credit risk rating assigned to the scheme is mfa1+. The highest-credit-quality short-term rating assigned by ICRA to debt funds. Rating methodology used by ICRA is based on evaluating the inherent credit quality of the funds portfolio. As a measure of the credit quality of a debt fund s assets, ICRA uses the concept of credit scores, based on ICRA s assessment of credit risk associated with each exposure of the portfolio taking into account its maturity, investment objectives and policies, its management characteristics and the creditworthiness of its investment portfolio. ICRA reviews relevant fund information on an ongoing basis to support its published rating opinions. Source: ICRA Ltd. * CRISIL AAAf Rating Methodology for Birla Sun Life Liquid Plus and Birla Sun Life Cash Manager AAAf The fund s portfolio holdings provide very strong protection against losses from credit defaults. Aaf The fund s portfolio holdings provide strong protection against losses from credit defaults. The credit quality ratings are based on an analysis of the fund s investment philosophy, its management, investment strategies, operational policies and internal controls. Credit quality incorporates the credit risk of securities and the counter-party risk involved in transactions CRISIL has developed a Credit Quality Matrix to evaluate a bond fund s overall level of protection against losses associated with credit default. The matrix is a set of credit factors & credit scores derived scientifically from CRISIL s rating default and transition rates over past ten years. Ranking source: CRISIL Services, CRISIL Ltd. ^^Crisil CPR Ranking Methodology & Disclaimer Birla Sun Life Frontline Equity : CRISIL~CPR 1 - Large Cap Oriented Equity Scheme Category (26 Schemes). Birla Sun Life Income : CRISIL~CPR 1 - Income Scheme Category (17 Schemes). Birla Sun Life Short Term : CRISIL~CPR 1 - Debt ST Scheme Category (13 Schemes). Birla Cash Plus: Institutional Premium: CRISIL~CPR 2 - Liquid Super Inst. Scheme Category (16 Schemes). Birla Sun Life Equity : CRISIL~CPR 2 - in Diversified Equity Scheme Category (6 schemes) Birla Sun Life Tax Relief 96: CRISIL~CPR 2 - ELSS Category (14 schemes) Birla Cash Plus - Retail: CRISIL~CPR 2 - Liquid Scheme Category (24 schemes) Birla Cash Plus - Institutional: CRISIL~CPR 2 - Liquid Inst. Scheme Category (13 schemes) Birla Gilt Plus Regular Plan: CRISIL~CPR 2 - Gilt Scheme Category (15 schemes) Birla Sun Life Monthly Income: CRISIL~CPR 1 - MIP Conservative Scheme Category (9 schemes) Birla cap : CRISIL~CPR 2 - Diversified Equity Scheme Category (6 Schemes) Birla MIP - Growth: CRISIL~CPR 2 - MIP Conservative Scheme Category (9 Schemes) CRISIL~Composite Performance Ranking - (CRISIL~CPR) is the relative performance ranking of mutual fund schemes within the peer group. The criteria used for computing the ranking are AUM in excess of category cut-off limits & portfolio disclosure and performance in case of Liquid Plans, Floating Rate and Debt-Short funds Last 1 years; All other Schemes Last 2 years. Ratings are as on 3 June 7. Ranking is done on the following parameters depending on scheme category. Parameters Superior Return Score Mean Return and Volatility Concentration Analysis Liquidity Analysis Asset Quality Average Maturity Downside Risk Probability Asset Size Scheme Category Large Cap Oriented Equity, Diversified Equity, ELSS, Sectoral-IT, Debt, Balance, Monthly Income Plan (Aggressive & Conservative) and Gilt categories. Liquid Plans, Floating Rate and Debt- Short term schemes All Schemes All Schemes Debt Schemes Debt Schemes Debt- Short Term, Floating Rate s, Liquid, Liquid- Institutional & Super Institutional. Debt- Short Term, Floating Rate s, Liquid, Liquid- Institutional & Super Institutional. CRISIL~CPR 1 - indicates Very Good" performance & ranks within top 1% of the respective category. CRISIL~CPR 2 - indicates Good" performance & ranks within top 3% of the respective category. Ranking Source: Crisil Services, CRISIL Limited & Lipper Awards 27 Ranking Methodology & Disclaimer Birla Sun Life 95 Growth (BSL 95): Best - Mixed Asset INR Aggressive, Birla Gilt Plus Regular Plan (BGP - Reg): Best - Bond Indian Rupee Government, BSL 95 & BGP Reg are awarded on the basis of Consistent Return (Effective Return) value within the 5 funds in the Mixed Asset INR Aggressive category and 28 funds in the Bond Indian Rupee Government category, respectively. Entry/Exit load not considered. Ranking source: Lipper - A Reuter S & P Management Rating Standard & Poor s A: The fund demonstrates high standards of quality based on its investment process, risk awareness and consistency of performance relative to its own objectives. Ranking Methodology: The has provided consistent, above average, risk-adjusted returns relative to its peers over a three-year period ending December 31, 26. The is assessed by S&P on basis of quantitative factors viz. historical performance for consistency, discrete period performance comparisons and measurement over 3 discrete twelve-month periods, including 6 month moving average size, turnover, dealing, liquidity of portfolio, gearing, client base, cost, fees and on evaluation of qualitative factors viz. fund management group, portfolio manager and investment team that contributes to long term performance. Our Team (In alphabetical order): A. Balasubramanian Chief Officer Ajay Argal Senior Manager-Equity Ajay Garg Manager-Equity Atul Penkar Research Analyst-Equity Gaurav Kapur Research Analyst-Equity Hemang Dagli Dealer Jayesh Gandhi Lokesh Mallya Mahesh Patil Maneesh Dangi Navneet Munot Naysar Shah Manager-Equity Credit Analyst-Fixed Income Manager-Equity Manager-Fixed Income CIO-Fixed Income, Hybrid s Equity Analyst Prasad Dhonde Satyabrata Mohanty Sujit Patki Sunaina da Cunha Vineet Maloo Credit Analyst Manager-Fixed Income Dealer-Equity Credit Analyst-Fixed Income Manager - Equity AGRA : AHMEDABAD : /48 AURANGABAD : BANGALORE : / 2 / 3 BARODA : / 2986 BHUBANESHWAR : / 3413 CHANDIGARH : / 73 CHENNAI : / COCHIN : / COIMBATORE : / 64 GOA : / 29 GUWAHATI : / For further details on our s, please contact our Customers Service Centres at details given below. BIRLA SUN LIFE AMC LTD. BRANCHES INDORE : / JAIPUR : /9115 JALANDHAR : JAMSHEDPUR : KANPUR : / 1121 KOLKATA : / 94 / 95 LUCKNOW : LUDHIANA : / MADHURAI : /67 MUMBAI (FORT) : MUMBAI (HEAD OFFICE) : MUMBAI (PRABHADEVI) : / 36 NAGPUR : / 43 NASHIK : NEW DELHI : PATNA : / 723 PUNE : / 66 / 67 RAIPUR : SECUNDARABAD : / 358 SURAT : / 178 TRIVANDRUM : VARANASI : / 56 VISHAKAPATNAM : Disclaimer: Any information contained in this publication does not constitute and shall be deemed not to constitute an advice, an offer to sell/ purchase or as an invitation or solicitation to do so for any securities of any entity, and further, Birla Sun Life AMC Ltd./ its subsidiaries / affiliates / sponsors / trustee or their officers, employees, personnel, directors shall not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising from the use or access of any information that may be displayed in this publication from time to time. Recipients of the information contained herein should exercise due care and caution and read the offer documents (including if necessary, obtaining the advice of tax / legal / accounting / financial / other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained herein. Editorial opinions expressed in the 'Connect' are not necessarily those of Birla Sun Life AMC Ltd. or any of their officers, employees, personnel, directors and Birla Sun Life AMC Ltd. and its officers, employees, personnel, directors do not accept responsibility for the editorial content. Birla Sun Life AMC Ltd. or any of its officers, employees, personnel, directors make no representation as to the accuracy, completeness or reliability of the editorial content and hereby disclaim any liability with regard to the same. Statutory Details: Constitution: Birla Sun Life Mutual (BSLMF) has been set up as a Trust under the Indian Trust Act, Sponsors: Aditya Birla Nuvo Limtied and Sun Life (India) AMC s Inc. (liability restricted to seed corpus of Rs. 1 Lac). Trustee: Birla Sun Life Trustee Company Pvt. Ltd. Manager: Birla Sun Life Asset Management Company Ltd.Risk Factors: Mutual s and securities investments are subject to market risks and there can be no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsor / Manager / Mutual does not indicate the future performance of the Schemes and may not necessarily provide a basis of comparison with other investments. The names of the Schemes do not, in any manner, indicate either the quality of the Schemes or their future prospects or returns. Unitholders in the schemes are not being offered any guaranteed/assured returns. Please refer to the Addendum / Offer Document for scheme specific risk factors before investing. Investors should read the Offer Document/ Key Information Memorandum available at Investor Service Centers and with distributors carefully before investing. The Material provided in the Connect cannot be reproduced or quoted anywhere without express permission from Birla Sun Life Asset Management Company Ltd. 39

40 Rs.1 lac invested on Aug 27, 1998 in Birla Sun Life Equity is worth Rs lacs as on July 31, 27. A similar investment in the benchmark BSE2 would have been worth Rs. 6.9 lacs Past performance may or may not be sustained in future. Statutory Details: Constitution: Birla Sun Life Mutual (BSLMF) has been set up as a Trust under the Indian Trust Act, Sponsors: Aditya Birla Nuvo Limtied and Sun Life (India) AMC s Inc. [liability restricted to seed corpus of Rs. 1 Lac] Trustee: Birla Sun Life Trustee Company Pvt. Ltd. Manager: Birla Sun Life Asset Management Company Ltd. : Birla Sun Life Equity is an open-end growth scheme with the objective of long-term growth of capital through a portfolio with a target allocation of 9% equity and 1% debt and money market securities. Load Sturcture: Entry - For Purchase / switch in of units less than Rs. 5 Crores in value: 2.25% For Purchase / switch in of units equal to or greater than Rs. 5Crores in value: Nil. Exit - For Purchase / switch in of units upto and including Rs. 5 crore in value, an Exit load of.5% is payable if the units are Redeemed/Switch out within six months form the date of allotment. For Purchase / switch in of units, greater than 5 crores in value, no exit load is payable. Risk Factors: Mutual s and securities investments are subject to market risks and there can be no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsors / Manager / Mutual does not indicate the future performance of the Scheme and may not necessarily provide a basis of comparison with other investments. Birla Sun Life Capital Protection Oriented is only the name of the Scheme and does not in any manner, indicate either the quality of the Scheme or its future prospects or returns. Unitholders in the scheme are not being offered any guaranteed/assured returns. Investors should read the Offer Document/ Key Information Memorandum available at Investor Service Centres and with Distributors carefully before investing.