CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

Transcription

1 CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 11th September, 2017

2 INDUSTRY & FUND UPDATE RBI Committee proposes single license for advisors offering different financial products The Reserve Bank of India committee, headed by Dr. Tarun Ramadorai, Professor of Financial Economics, Imperial College London, has proposed uniformity in guidelines for advisors across all financial products. The committee wants advisors to offer all the financial products such as insurance, mutual funds, National Pension Scheme, and Alternative Investment Funds with a single license. Currently, all the financial regulators have different rules and regulations for their intermediaries and advisors registered with them. The committee has recommended introduction of an independent body, which can be managed by all these regulators to form a unique guidelines for financial advisors. Industry AUM data comes in at Rs lakh crore in Aug 2017 According to data from AMFI, the corpus of the mutual fund industry increased from Rs lakh crore in Jul 2017 to Rs lakh crore in Aug Maximum inflow was seen in the liquid category funds to the extent of Rs. 21,352 crore followed by equity (including ELSS fund category) with an inflow of Rs. 20,362 crore in Aug The income category funds witnessed inflow of Rs. 8,390 crore in the month under review. LIC Mutual Fund revises the exit load of LIC MF Children s Fund LIC Mutual Fund has revised the exit load of LIC MF Children s Fund to nil with effect from Sep 6. Previous an exit load of 1% was charged if units are redeemed or switched out on or before completion of 1 year from the date of allotment of units. SEBI planning to come out with definitions for all categories of mutual fund schemes The Securities and Exchange Board of India (SEBI) is planning to come out with the uniform definitions for all categories of mutual fund schemes. The matter was taken up for discussion in a meeting held by SEBI s Mutual Fund Advisory Committee. Currently, the mutual fund industry has over 2,000 schemes. The presence of multiple funds in the category from the same fund house creates confusion among distributors and investors. The capital market regulator has been pushing fund houses to merge schemes to reduce confusion among investors. SEBI wants MF industry to benchmark returns of its equity schemes The Securities and Exchange Board of India would like the mutual fund industry to benchmark the returns of its equity schemes against a total return index. The step is expected to reduce the alpha generated by these schemes and enable investors to evaluate the returns more effectively. Mutual Funds hiked exposure to banking, financial stocks in July Banking and financial services were the most favoured sectors for equity mutual funds in July, with both sectors seeing their share in equity fund AUMs inching steadily higher. Sebi data shows these two sectors accounted for 31.2 per cent of total equity asset under management at the end of July compared with 27.8 per cent in last July. Banking is already the top sector holding for most mutual funds given the share the sector has in the market. Funds had begun turning wary of banks in the previous months, opting instead for NBFCs. But the past six months has seen a sharp surge in share of AUM, moving from 20.9 per cent in January 2017 to 22.6 per cent in July 2017 (latest available data). The value of fund holdings in banking is up by a strong 42 per cent in July 2017 from January, and even more by 57 per cent from a year ago. IDFC AMC introduces 'insta-redemption' facility in IDFC Cash Fund IDFC AMC is introducing 'insta-redemption' facility under the IDFC Cash Fund. This facility will enable investors to get redemption proceeds in their registered bank accounts instantly. The fund house provides the option of seamlessly updating the bank IFSC code for smooth completion of the insta-redemption process. A few clicks enable money transfer from the cash fund to the savings account, which can then be easily withdrawn. The transfers will be done using the Immediate Payment Service (IMPS) provided by various banks and the entire process should take a few minutes. The facility will be available on all days and at all points of time through the online transaction mode. AMFI directs R&T agents to take investor s consent on linking Aadhaar with their folios In the wake of the Supreme Court s order on Right to Privacy, the Association of Mutual Funds in India (AMFI) has directed registrar and transfer (R&T) agents to obtain consent of investors to access their Aadhaar data from UIDAI platform. Presently, the mutual fund industry regulator is working on the guidance note and is likely to issue it to R&T agents shortly. Earlier, the government had directed registrar and transfer agents of mutual funds to link Aadhaar number of mutual fund investors with their folios. The mutual fund investors will have to update their Aadhaar number before Dec 31,

3 NEW FUND OFFER Growth Scheme Name ICICI Prudential Value Fund - Series 17 - Regular Plan (G) Fund Type Close-Ended Fund Class Growth Opens on 29-Aug-2017 Closes on 12-Sep-2017 Investment Objective To provide capital appreciation by investing in a well-diversified portfolio of stocks through fundamental analysis. Min. Investment Rs Fund Manager Ihab Dalwai / Sankaran Naren / Priyanka Khandelwal Scheme Name Fund Type Fund Class Opens on Closes on Investment Objective Sundaram Long Term Micro Cap Tax Advantage Fund - Sr. - VI - Reg. (G) Close-Ended Growth 23-Jun Sept-2017 Min. Investment Rs Fund Manager To generate capital appreciation over a period of ten years by predominantly investing in equity and equity-related instruments of companies that can be termed as micro-cap. S Krishnakumar / Dwijendra Srivastava 2

4 PERFORMANCE OF EQUITY FUNDS Equity Diversified Funds: Scheme Name NAV QAAUM 1 Mon 3 Mon 6 Mon 1 Y 3 Y 5 Y S.I Std. Dev. Beta Jensen DSP BlackRock Natural Resources & New Energy F-R-G L&T Emerging Businesses Fund - Reg - Growth N.A IDFC Sterling Equity Fund - Reg - Growth L&T Midcap Fund - Reg - Growth Reliance Small Cap Fund - Growth Motilal Oswal MOSt Focused Multicap 35 F-R-G N.A Tata Equity P/E Fund - Reg - Growth SBI Magnum COMMA Fund - Growth Aditya Birla Sun Life Pure Value Fund - Growth Canara Robeco Emerging Equities - Growth L&T India Value Fund - Reg - Growth Principal Emerging Bluechip Fund - Growth Nifty N.A N.A S&P BSE Sensex N.A N.A Index Funds: Scheme Name NAV QAAUM 1 Mon 3 Mon 6 Mon 1 Y 3 Y 5 Y S.I Std. Dev. Beta Jensen ICICI Prudential Nifty Next 50 Index Fund - G IDBI Nifty Junior Index Fund - Growth HDFC Index Fund - Sensex Plus Plan N.A UTI Nifty Fund - Growth N.A HDFC Index Fund - Nifty Plan N.A IDFC Nifty Fund - Reg - Growth N.A SBI Nifty Index Fund - Growth ICICI Prudential Nifty Index Fund - Reg - Growth Principal Index Fund - Nifty - Growth Franklin India Index Fund - NSE Nifty Plan - G Aditya Birla Sun Life Index Fund - Growth LIC MF Index Fund - Nifty - Growth Nifty N.A N.A S&P BSE Sensex N.A N.A Sectoral Funds: Scheme Name NAV QAAUM 1 Mon 3 Mon 6 Mon 1 Y 3 Y 5 Y S.I Std. Dev. Beta Jensen IDFC Infrastructure Fund - Reg - Growth Reliance Diversified Power Sector Fund - Growth L&T Infrastructure Fund - Reg - Growth Tata Banking And Financial Services Fund - R-G N.A N.A ICICI Pru Banking and Financial Services F-R-G Aditya Birla Sun Life Infrastructure Fund-G Invesco India Banking Fund - Reg - Growth Reliance Banking Fund - Growth Aditya Birla Sun Life Banking and Fin Services F-R-G N.A UTI Banking Sector Fund - Growth SBI Banking & Financial Services F- Reg - G N.A N.A Sundaram Infrastructure Advantage F-R-G Nifty N.A N.A S&P BSE Sensex N.A N.A 3

5 PERFORMANCE OF BALANCED FUNDS Tax saving Funds: Scheme Name NAV QAAUM 1 Mon 3 Mon 6 Mon 1 Y 3 Y 5 Y S.I Std. Dev. Beta Jensen Motilal Oswal MOSt Focused Long Term Fund - Reg - G N.A N.A Mirae Asset Tax Saver Fund - Reg - Growth N.A N.A IDFC Tax Advantage (ELSS) Fund - Reg - Growth L&T Tax Advantage Fund - Reg - Growth Tata India Tax Savings Fund - Reg - Growth N.A N.A Principal Tax Savings Fund HSBC Tax Saver Equity Fund - Growth Reliance Tax Saver (ELSS) Fund - Growth HDFC Taxsaver - Growth HDFC Long Term Advantage Fund - Growth Aditya Birla Sun Life Tax Relief 96 - Growth Aditya Birla Sun Life Tax Plan - Growth Nifty N.A N.A S&P BSE Sensex N.A N.A PERFORMANCE OF BALANCED MUTUAL FUNDS Balanced Funds: Scheme Name NAV QAAUM 1 Mon 3 Mon 6 Mon 1 Y 3 Y 5 Y S.I Std. Dev. Jensen Reliance RSF - Balanced - Growth L&T India Prudence Fund - Reg - Growth Mirae Asset Prudence Fund - Reg - Growth N.A N.A HDFC Balanced Fund - Growth HDFC Prudence Fund - Growth Aditya Birla Sun Life Balanced 95 - Growth ICICI Prudential Balanced - Growth Aditya Birla Sun Life Balanced Advantage Fund - Growth UTI Balanced Fund - Growth Canara Robeco Balance - Growth SBI Magnum Balanced Fund - Growth DSP BlackRock Balanced Fund - Growth CRISIL Balanced Fund - Aggressive Index N.A N.A N.A 4

6 PERFORMANCE OF DEBT FUNDS Income Funds: Scheme Name NAV QAAUM 3 Days 1 Week 2 Weeks 1 Mon 2 Mon 3 Mon 1 Y S.I Std. Dev. Sharpe DHFL Pramerica Dynamic Bond Fund - Growth UTI Dynamic Bond Fund - Reg - Growth ICICI Prudential LTP - Growth ICICI Prudential Dynamic Bond Fund - Prem Plus-G Franklin India Dynamic Accrual Fund - Growth UTI Bond Fund - Growth Baroda Pioneer Credit Opportunities F-R-G SBI Dynamic Bond Fund - Growth Aditya Birla Sun Life Corporate Bond F-R-G Franklin India Income Opportunities Fund-G SBI Magnum Income Fund - Growth IDFC D B F - Reg - Growth (Re-Launched) BOI AXA Corporate Credit Spectrum F-R-G IDFC SSIF - Invt Plan - Reg - Growth Franklin India Corporate Bond Opportunities F-G Crisil Composite Bond Fund Index N.A N.A Top Floating Rate Funds: Scheme Name NAV QAAUM 3 Day 1 Week 2 Weeks 1 Mon 2 Mon 3 Mon 1 Y S.I Std. Dev. Sharpe L&T Floating Rate Fund - Reg - Cumulative Reliance FRF - ST - Growth Franklin India Savings Plus Fund - Growth Canara Robeco Savings Plus Fund - Reg - Growth HDFC F R I F - LTF - Growth SBI Savings Fund - Growth Crisil Composite Bond Fund Index N.A N.A Ultra Short Term Funds: Due to their inherent short term nature, the following has been sorted on the basis of 3 month returns Scheme Name NAV QAAUM 3 Day 1 Week 2 Weeks 1 Mon 2 Mon 3 Mon 1 Y S.I Std. Dev. Sharpe Franklin India Low Duration Fund - Growth IDFC Money Manager - Invt Plan - Reg - Growth L&T Banking and PSU Debt Fund - Growth Franklin India Ultra Short Bond Fund - Retail - Growth ICICI Prudential Ultra Short Term Plan - Reg - Growth Aditya Birla Sun Life Savings Fund - Reg - Growth Aditya Birla Sun Life Floating Rate Fund - LTP - Reg - Growth Principal Low Duration Fund - Growth Reliance Medium Term Fund - Growth BOI AXA Treasury Advantage Fund - Reg - Growth DHFL Pramerica Short Term FRF - Growth Baroda Pioneer Treasury Advantage Fund - Plan A - Growth Tata Corporate Bond Fund - Reg - Growth ICICI Prudential Flexible Income Plan - Reg - Growth Kotak Low Duration Fund - Std - Growth Crisil Composite Bond Fund Index N.A N.A

7 PERFORMANCE OF FUNDS OF FUNDS MIP Funds: Scheme Name NAV QAAUM 3 Day 1 Week 2 Weeks 1 Mon 2 Mon 3 Mon 1 Y S.I Std. Dev. Sharpe Aditya Birla Sun Life MIP II - Wealth 25 - Reg - Growth ICICI Prudential MIP 25 - Growth BOI AXA Regular Return Fund - Eco - Growth BOI AXA Regular Return Fund - Reg - Growth SBI Magnum MIP - Growth HDFC MIP - STP - Growth Reliance MIP - Growth UTI - MIS - Advantage Fund - Growth ICICI Prudential MIP - Cumulative HDFC MIP - LTP - Growth Sundaram MIP - Aggressive - Reg - Growth DSP BlackRock MIP Fund - Growth UTI Monthly Income Scheme - Growth IDFC Monthly Income Plan - Reg - Growth Kotak Monthly Income Plan - Reg - Growth Crisil MIP Blended Index N.A N.A N.A PERFORMANCE OF GILT FUNDS Gilt Funds: Scheme Name NAV QAAUM 3 Day 1 Week 2 Weeks 1 Mon 2 Mon 3 Mon 1 Y S.I Std. Dev. Sharpe UTI Gilt Advantage Fund - L T - PF Plan - Growth SBI Magnum Gilt LTP - Growth IDFC G-Sec Fund - PF Plan - Reg - Growth Aditya Birla Sun Life GPPFP - Reg - Growth IDFC G Sec Fund - Invt Plan - Reg - Growth (Re-launched) Reliance G Sec Fund - Growth Canara Robeco Gilt PGS - Growth ICICI Prudential Gilt Fund - Investment - PF - Reg - Growth SBI Magnum Gilt STP - Growth Invesco India Gilt Fund - Growth Tata Gilt High Investment Fund - Growth ICICI Prudential Gilt Fund - Treasury - PF - Growth ICICI Prudential Long Term Gilt Fund - Growth IDFC G Sec Fund - Short Term - Reg - Growth ICICI Prudential Constant Maturity Gilt Fund - Reg - Growth Crisil 10 Yr Gilt Index N.A N.A N.A PERFORMANCE OF FUND OF FUNDS FUND OF FUNDS: Scheme Name NAV QAAUM 3Day 1 Week 2 Weeks 1 Mon 2 Mon 3 Mon 1 Y S.I Std. Dev. Sharpe HSBC Managed Solutions India - Growth - Reg - Growth Aditya Birla Sun Life Financial Planning FoF Aggressive - G HSBC Managed Solutions India - Moderate - Reg - Growth IDFC Asset Allocation FoF - Aggressive - Reg - Growth HDFC Dynamic PE Ratio Fund of Funds - Growth Kotak Asset Allocator Fund - Reg - Growth Franklin India Life Stage - 20s Plan - Growth Aditya Birla Sun Life Financial Planning FoF Prudent - G IDFC Asset Allocation FoF - Moderate - Reg - Growth Franklin India Life Stage - 40s Plan - Growth Franklin India Dynamic PE Ratio FoF - Growth IDFC Asset Allocation FoF - Conservative - Reg - Growth ICICI Prudential Dynamic Accrual Plan - Growth Franklin India Life Stage - 50s Plus Floating Rate Plan - G ICICI Prudential Cautious Plan - Growth Note: Indicative Quarterly Average Assets Under Management QAAUM (Latest) is including Growth & Dividend option. The above-mentioned data is on the basis of 08/09/2017 Beta, Jensen, Sharpe and Standard Deviation is calculated for the period: 1 Year, Frequency: Weekly Monday, RF: 7%. For debt fund the return are calculated annualized basis for less than 1 year. 6

8 Corporate Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi Tel: Mumbai Office: Lotus Corporate Park, A Wing 401 / 402, 4th Floor,Graham Firth Steel Compound, Off Western Express Highway, Jay Coach Signal, Goreagon (East) Mumbai Tel: , Fax: Kolkata Office: 18, Rabindra Sarani, Poddar Court,Gate No.- 4, 5th Floor, Kolkata Tel: , Fax: SMC Global Securities Ltd. (hereinafter referred to as SMC ) is regulated by the Securities and Exchange Board of India ( SEBI ) and is licensed to carry on the business of broking, depository services and related activities. SMC is a registered member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited, MSEI (Metropolitan Stock Exchange of India Ltd) and M/s SMC Comtrade Ltd is a registered member of National Commodity and Derivative Exchange Limited and Multi Commodity Exchanges of India and other commodity exchanges in India. SMC is also registered as a Depository Participant with CDSL and NSDL. SMC s other associates are registered as Merchant Bankers, Portfolio Managers, NBFC with SEBI and Reserve Bank of India. It also has registration with AMFI as a Mutual Fund Distributor. SMC is a SEBI registered Research Analyst having registration number INH SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities market. SMC or its associates or its Research Analyst or his relatives do not hold any financial interest in the subject company interest at the time of publication of this Report. SMC or its associates or its Research Analyst or his relatives do not hold any actual/beneficial ownership of more than 1% (one percent) in the subject company, at the end of the month immediately preceding the date of publication of this Report. SMC or its associates its Research Analyst or his relatives does not have any material conflict of interest at the time of publication of this Report. SMC or its associates/analyst has not received any compensation from the subject company covered by the Research Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or its associates has not received any compensation or other benefits from the subject company covered by analyst or third party in connection with the present Research Report. The Research Analyst has not served as an officer, director or employee of the subject company covered by him/her and SMC has not been engaged in the market making activity for the subject company covered by the Research Analyst in this report. The views expressed by the Research Analyst in this Report are based solely on information available publicly available/internal data/ other reliable sources believed to be true. SMC does not represent/ provide any warranty expressly or impliedly to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision. The research analysts who have prepared this Report hereby certify that the views /opinions expressed in this Report are their personal independent views/opinions in respect of the subject company. Disclaimer: This Research Report is for the personal information of the authorized recipient and doesn't construe to be any investment, legal or taxation advice to the investor. It is only for private circulation and use. The Research Report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of this Research Report. The Research Report should not be reproduced or redistributed to any other person(s)in any form without prior written permission of the SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this Research Report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn't guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions. Please note that SMC its affiliates, Research Analyst, officers, directors, and employees, including persons involved in the preparation or issuance if this Research Report: (a) from time to time, may have long or short positions in, and buy or sell the securities thereof, of the subject company(ies) mentioned here in; or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company(ies) discussed herein or may perform or seek to perform investment banking services for such company(ies) or act as advisor or lender/borrower to such subject company(ies); or (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of Delhi High court. 7