M O N T H L Y R E P O R T N O V E M B E R

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1 TIMES M O N T H L Y R E P O R T N O V E M B E R Past performance may or may not sustain in the future TAURUS TAX SHIELD - An open-end equity linked saving scheme Taurus Tax Shield has been rated amongst the top by several reputed organisations for its performance and consistency in the ELSS category. You can Save Tax up to ` 30,900/- on an investment of ` 1 lac u/s 80C*, along with Capital Appreciation. 6 Reasons, why Save Tax with Taurus Tax Shield: SAVE TAX & GET RETURNS WITH AMONGST THE BEST ELSS Best ELSS by Business World MF Awards Platinum Edge by ET - Investor s Guide Nov., Star Fund by Money Control - Nov., Star Fund by Value Research - Nov., 2010 Shortest lock-in period of 3 years vis-a-vis other tax saving instruments Save tax. Invest in performance. SMS TTS to To invest, contact your financial advisor or call us on the below mentioned numbers: Ahmedabad: Bangalore: Chandigarh: Chennai: C o c h i n : / 3 1 D e l h i : / Hyderabad: Jaipur: Kanpur: Kolkata: /2 Lucknow: Ludhiana: Madurai: Mumbai: / Pune: /13 customercare@taurusmutualfund.com Dividend Payouts: Record Date NAV Dividend / Unit 19/12/ ` /01/ ` /03/ ` /11/ ` /01/ ` /02/ ` /03/ `2.25 Face Value `10/- Disclaimers - Money Control Rating Methodology: The overall calculation is based on sum of percentile ranks for total return metrics over 3 months, 6 months, 1 year, 2 years, and 3 years periods (as applicable) with maximum weightage given to the 1-year returns. The scores are subject to change every month. The resulting scores are converted into ranks and the rating is assigned as per the following distribution: 5 star - Top 10%, 4 star - next 22.5%, 3 star - middle 35%, 2 star - next 22.5%, 1 star - bottom 10%. ET Platinum edge Rating Methodology: Ratings are given based on last three years performance by the funds in their respective category. Value Research Rating Methodology: The Value Research Ratings are published in Monthly Mutual Fund Performance Report and Mutual Fund Insight. The Ratings are subject to change every month. The Rating is based on primary data provided by respective funds, Value Research does not guarantee the accuracy. Businessworld Mutual Fund Awards methodology: For Equity Tax Planning, all funds compliant with Section 80C of the IT Act were included. Data for the past 3 years were considered. The methodology used to rank them is based on risk-adjusted returns but widened to take a composite measure of the returns a fund generates and the risk it takes. Statutory Details: Taurus Mutual Fund has been constituted as a Trust under the Indian Trust Act, Sponsor: HB Portfolio Ltd., Trustee: Taurus Investment Trust Company Limited, Investment Manager: Taurus Asset Management Company Ltd. Scheme Nature & Objective: Taurus Tax Shield is an open - end equity linked tax saving scheme. Scheme objective is to provide long term capital appreciation over the life of the scheme through investment pre-dominantly in equity shares, besides tax benefits. Asset Allocation: Equity and related instruments: %, Debt instrument: 0-20%, Money market instruments: 0-20%. Load Structure:, Exit Load: Upto any amount (Including SIP application): NA (Switch: Taurus Tax Shield to other schemes after lock in period of 3 years Exit Load: Nil) Lock-in-period: 3 years from the date of allotment. *: As per Section 80C of the Income Tax Act, an individual or a HUF is allowed deduction from income to an amount upto a maximum of Rs. 1 Lakh by investment in the scheme. Tax free dividends in the hands of investors. Application Form: Key Information Memorandum cum Application Form is available with the offices of the Fund, designated points of transactions of Karvy Computershares Pvt. Ltd., R&T Agents. Forms can also be downloaded from the website of the Fund. Risk Factors: All Investments in mutual funds and securities are subject to market risks and the NAV of the Scheme may go up or down depending upon the factors and forces affecting the securities market. There can be no assurance that the Scheme s investment objective will be achieved. The past performance of the Mutual Fund is not indicative of the future performance of the Scheme. The Sponsor is not responsible or liable for any loss resulting from operation of the Scheme beyond the initial contribution of Rs.2 Lacs made towards setting up the Mutual Fund. Taurus Tax Shield is only the name of the Scheme and does not in any manner indicate the quality of the Scheme or it s future prospects or returns. There is no guarantee or assurance as to any return on investment of the unitholders. The investments made by the Scheme are subject to external risk on transfers, pricing, trading volumes, settlement risks, etc. of securities. Please read the Scheme Information Document/ Statement of Additional Information and Key Information Memorandum carefully before investing.

2 HOUSE OF TAURUS INDEX Page No. 1 TAURUS STARSHARE...4 AN OPEN-END EQUITY SCHEME WITH A FOCUS ON MULTI CAP STOCKS 2 TAURUS INFRASTRUCTURE FUND...5 AN OPEN-END EQUITY THEMATIC SCHEME 3 TAURUS ETHICAL FUND...6 AN OPEN-END EQUITY ORIENTED SCHEME 4 TAURUS TAX SHIELD...7 AN OPEN-END EQUITY LINKED SAVING SCHEME (ELSS) 5 TAURUS NIFTY INDEX FUND... 8 AN OPEN-ENDED INDEX LINKED EQUITY SCHEME 6 TAURUS BONANZA FUND...9 AN OPEN-END EQUITY SCHEME WITH A LARGE CAP FOCUS 7 TAURUS DISCOVERY FUND...10 AN OPEN-END EQUITY FUND WITH MID CAP AND SMALL CAP FOCUS 8 TAURUS ULTRA SHORT TERM BOND FUND...11 AN OPEN-END DEBT SCHEME 9 TAURUS LIQUID FUND...12 AN OPEN-END LIQUID SCHEME 10 TAURUS SHORT TERM INCOME FUND...13 AN OPEN-END BOND SCHEME TAURUS GILT FUND...14 AN OPEN-END GILT SCHEME TAURUS MIP ADVANTAGE...15 AN OPEN - ENDED INCOME SCHEME

3 FROM THE CEO'S DESK DearInvestor, DuringearlypartofNovemberaroundthefestivalofDiwali,bothSensex&Niftyclosedatheir al-timehighbutcouldnotsustainathosehighlevels.aseriesofinternational&domesticevents overthenextfewdaysdampenedthesentimentsandbroughtabouthecorectionsinthequity markets.bothsensex&niftyclosedthemonthwithamonthlylosof2.5%&2.58% respectively.fiscontinuedtobenetbuyers.withanetinflowsofusd4.12bnduringnovember theirnetinvestmentduringcalendar2010hasalreadycrosedusd28.91bn.thecorectionin themarketwasusedbymajorityofthemutualfundstoadontotheirportfolios. TheresultspostedbyCorporateIndia,thequarterlyGDPnumbers,thepick-upinthedomestic demandaresomepointerstothefacthatindiagrowthstoryremainsintact.anyrunupinthe marketswhichistoswiftwilbemetwithintermitentcorections.investorshouldlokathelong termpictureandthoseinvestorswhohavebenwaitingonthesidelinescanusetheongoingcorectionstogradualybuildup theirequityportfolios. Withinflationstilrulinghigh,furthertighteningmeasuresbyRBIcanotberuledout.HDFCBank,ICICIBankincreasingthehome loaninterestratesby50to75bpsisanindicatorthatinterestratesaregoingtogoup.decembershouldseliquidityremaintight. Withdemandslackening&creditcostgoingup,propertypricesinMumbaiandothermajormetrosmaysesomecorectionin thenextfewmonths.gold&silverpricescontinuedtosoarandcrosedtheirearlierhighs.withmajorpartofeuropeundersnow thedemandforenergyhasgoneupandfuelpricesarexpectedtorisebutnotbeyondanunreasonablelevelsinceeuropedoes notsemtohavingagreatcapacitytopayforhighcrudeprices. ElectionresultsinBiharwereaneyeopenerformany-godgovernanceandstepstakenfortheconomicupliftmentoftheState aparentlywereapreciatedbythelectorate. TaurusSchemescontinuedowel.Inthecurentscenario,wefindTaurusMIPAdvantage(withexposuretoGoldETFsin aditiontodebt&equity)tobethesuitableproductforisk-averseinvestorswhoaretargetingdoubledigitreturnsinthenextone year.taurusmipadvantagewhichadeclaredamonthlydividendofre0.05inoctoberwithinthremonthsofitslaunch declaredthesecondividendofre0.05inthemonthofnovember. Asweaproachthelastquarterofthefiscal,itisthatimeoftheyearwheninvestorstakestockoftheirtaxliabilitiesandplantheir taxsavinginvestmentstrategy.wedefinitelyurgetheinvestorstolokattaurustaxshieldwhichasmanyrecentrecognitionsto boastof:5staratingfrommoneycontrol,4starfromvalueresearchandplatinum-edgefrometinvestor'sguide.witha consistentperformanceandanatractivedividendtrackrecord,thisfundeservestofindaplaceinyourportfolio. IhavealwaysmaintainedthatinvestorswhogetunervedbyvolatiltyinthemarketshouldalwaysinvesthroughtheSIProute whichalowsinvestorstorideoverthevolatilitybyinvestingsmalquantitiesatregularintervals.investorscouldlokattaurus Starshare,TaurusEthicalFund&TaurusDiscoveryFundfortheirSIPinvestments. WishingalourinvestorsaMeryChristmasandaveryhapyNewYear. Kindregards, Yourstruly, WaqarNaqvi ChiefExecutive

4 TAURUS STARSHARE - AN OPEN-END EQUITY SCHEME WITH A FOCUS ON MULTI CAP STOCKS ThebasicobjectiveoftheSchemeistoprovidelong-termcapitalapreciation. Emphasiswilbeonsharingrowththroughapreciationaswelason distributionofincomebywayofdividend. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV BSE 200* 1Year Years (6.05) (0.04) 5Years SinceInception Date of Allotment: Jan29,194. Dividend Option introduced on Jan 1, Net Asset Value (NAV) ` 41.47(D),58.90(G)perunit. AAUM: ` Cr. Minimum Application Amount: ` 50/-&multiplesof` 10/thereof. Sharpe Ratio: 2.28Standard Deviation:13.32Alpha: 13.7 Beta: 0.75 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1year periodfrom30thnovember,209to30thnovember,2010.) Fund Manager: Mr.SadanandShety Exit Load - Uptoanyamount(IncludingSIPaplication): 1%ifexitedbefore1year Nilifexitedafter1year Switch:EquitytoEquity-ExitLoadNil,EquitytoDebt-Relevantexitloadaplicableasmentioned above,equitytoels-relevantexitloadaplicableasmentionedabove. Note:Returnsarecalculatedoncompoundedanualisedbasisforaperiodof morethanoneyearandabsolutebasisforaperiodlesthanorequaltone year,withreinvestmentofdividends/bonus,ifany. NAV movement in the last one year vis-a-vis BSE 200 DIVIDEND HISTORY ` 5perunitdividendinJuly209 ` 3perunitdividendinNovember209 ` 5perunitdividendinMarch RelianceIndustriesLimited 7.34 StateBankofIndia 2.81 InfosysTechnologiesLtd BhartiAirtelLtd TataMotorsLtd BharatHeavyElectricalsLtd PantalonRetailIndiaLtd BGREnergySystemsLtd ITCLtd ApoloHospitalsEnterpriseLtd OnmobileGlobalLtd DLFLtd Oil&NaturalGasCorporationLtd TitanIndustries 1.7 ICICIBankLtd FederalBankLtd RalisIndiaLtd KotakMahindraBankLtd Mahindra&MahindraLtd DenaBank 1.4 HCLTechnologies 3.58 Larsen&ToubroLtd PunjabNationalBank 3.58 Gail(India)Ltd ThermaxIndiaLtd WelwinIndustryLtd* 0.0 HousingDevelopmentFinanceCorpo AgreDevelopersLtd* 0.0 SiemensLtd Total - Equity CoromandelInternationalLtd Cash&Others 5.7 TataChemicalsLtd. 3.0 TOTAL TataStelLtd *Industryexposure,scripaum,asetaumscripinvestment,asetinvestmentnotavailable aslistingisawaited. Fund Manager's Comment: Theschemeisadiversifiedmulticapfundwithamixof largeandmidcapstocks.curentequityexposureofthefundstandsat94.97%.portfolio hasbuiltupofcompaniesgetingbenefitofincreasedconsumerdiscretionaryexpenditure andincreasedgovernmentspending.thelargesectorexposureisinagriculturalinputs, nondurableconsumergods,capitalgodsandbankingisreflectingourthoughtproces ofbuildingportfoliowithsectorwhicharexpectedtogetbenefitedbythechangeinthe Governmentpolicy,consumerdemandandsustainablearningrowth.Amongthetop 10stocks,TATAMotorsandInfosysTechnologyhasoutperformedthemarketwhile RelianceIndustries,ICICIBankunderperformedthemarket.KeyAditionisBhartiAirtel andbgrenergy EQUITY SECTOR ALLOCATION Banks Software Auto PetroleumProducts Fertilisers ConsumerNonDurables Retailing Telecom-Equipment&Acesories Oil Pesticides Finance FerousMetals Telecom-Services HealthcareServices Construction ConstructionProject Gas TaurusStarshare BSE Nov

5 TAURUS INFRASTRUCTURE FUND - AN OPEN-END EQUITY THEMATIC SCHEME Toprovidecapitalapreciationandincomedistributiontounitholdersby investingpre-dominantlyinequityandequityrelatedsecuritiesofthe companiesbelongingtoinfrastructuresector,it'srelatedindustriesinclusiveof supliersofcapitalgods,rawmaterialsandothersuportiveservicesto infrastructurecompaniesandbalanceindebtandmoneymarketinstruments. Saleandrepurchaseonalbusinesdays. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV BSE 200* 1Year Years (2.1) (0.04) SinceInception Date of Allotment: Mar5,207. Net Asset Value (NAV) ` 13.75(D),14.65(G)perunit. AAUM: ` 2.29Cr. Minimum Application Amount: ` 50/-&multiplesof` 10/thereof. Sharpe Ratio: 1.73Standard Deviation:13.39Alpha: 7.7 Beta: 0.7 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1yearperiod from30thnovember,209to30thnovember,2010.) Fund Manager: Mr.SadanandShety Exit Load - Uptoanyamount(IncludingSIPaplication): 1%ifexitedbefore1year Nilifexitedafter1year Best Turnaround Fund by Businessworld for the year Switch:EquitytoEquity-ExitLoadNil,EquitytoDebt-Relevantexitload aplicableasmentionedabove,equitytoels-relevantexitloadaplicable asmentionedabove. Note:Returnsarecalculatedonacompoundedanualisedbasisforaperiod ofmorethanoneyearandabsolutebasisforaperiodlesthanorequaltone NAV movement in the last one year vis-a-vis BSE 200 year,withreinvestmentofdividends/bonus,ifany. DIVIDEND HISTORY ` 1perunitdividendinAug RelianceIndustriesLimited 8.07 Larsen&ToubroLtd GujaratStatePetronetLtd BhartiAirtelLtd AdaniExportsLtd RelianceInfrastructureLtd BharatHeavyElectricalsLtd HindalcoIndustriesLtd PunjabNationalBank 5.5 SintexIndustriesLtd CoalIndiaLtd DLFLtd HathwayCableAndDatacomLtd SterliteIndustriesLtd MundraPortAndSpl.Eco.ZoneLtd.4.78 KirloskarOilEnginesLtd GVKPowerAndInfrastructureLtd GamonIndiaLtd TataStelLtd TataMotorsLtd DenaBank 4.20 Total - Equity MercatorLinesLtd Cash&Others 6.19 IDFCLtd TOTAL Fund Manager's Comment: BeinganInfrastructurefund,theportfoliois designedaroundcompanieshavingstrongorderbokandexecutioncapabilitiesin theirrespectiveinfrastructuredevelopmentfield.wefavourcompanieshaving strongbalanceshetandachieveoptimumfinancialclosureforitsinfrastructure projects.amongthetop10stocks,gsplandadanienterpriseunderperformedthe market.keyaditionisdlfanddenabank EQUITY SECTOR ALLOCATION Banks PetroleumProducts Power Gas Trading Non-ferousMetals Minerals/mining Media&Entertainment IndustrialProducts ConstructionProject FerousMetals Finance Telecom-services Construction Auto TaurusInfrastructureFund BSE Nov

6 TAURUS ETHICAL FUND - AN OPEN-END EQUITY ORIENTED SCHEME Toprovidecapitalapreciationandincomedistributiontounitholdersthrough investmentinadiversifiedportfoliofequities,whicharebasedonthe principlesofshariah. TaxfredividendsinthehandsofInvestor,NoGiftTax,NoWealthTaxasper NAV S&P CNX 500 Shariah Index* 3Months Months Year SinceInception ` 2perunitdividendinFeb.2010,` 1perunitdividendinSeptember209,` 1.5perunit dividendinjuly209. Date of Allotment: April6,209 Net Asset Value (NAV) ` 18.37(D),24.50(G),24.49(B)perunit. AAUM: ` 25.48Cr. Minimum Application Amount: ` 50/-&multiplesofRe.1/-thereof. Sharpe Ratio: 2.81Standard Deviation: 12.41Alpha: 2.53 Beta: 0.56 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1yearperiod from30thnovember,209to30thnovember,2010.) Fund Manager: Mr.SadanandShety Exit Load - Uptoanyamount(IncludingSIPaplication): 1%ifexitedbefore1year Nilifexitedafter1year Switch:EquitytoEquity-ExitLoadNil,EquitytoDebt-Relevantexitload aplicableasmentionedabove,equitytoels-relevantexitloadaplicable Note:Returnsarecalculatedonacompoundedanualisedbasisforaperiodofmore asmentionedabove. thanoneyearandabsolutebasisforaperiodlesthanorequaltoneyear,with reinvestmentofdividends/bonus,ifany. NAV movement in the last one year vis-a-vis S&P CNX 500 Shariah DIVIDEND HISTORY Fund Manager's Comment: Beingathematicfund,theportfolioisbuilt withshariahcompliantstockselectedoutofbenchmark.duetolimited investmentoportunitieswelokforcompanieswithsustainablearning growthaswebelievethisasaleadingindicatorforstockapreciation.among thetop10stocks,hcltechasoutperformedthemarketwhile,apolo Hospitalunderperformedthemarket. 6 HCLTechnologies 7.37 GreavesCotonLtd RelianceIndustriesLtd TitanIndustries 3.37 ApoloHospitalsEnterpriseLtd AdaniExportsLtd DLFLtd EnginersIndiaLtd. 2.7 Oil&NaturalGasCorporationLtd.5.69 DrRedyLaboratoriesLtd RalisIndiaLtd MundraPortAndSpl.Eco.ZoneLtd.2.0 BajajAutoLtd RelianceInfrastructureLtd BhartiAirtelLtd. 5.4 RedingtonIndiaLtd ThermaxIndiaLtd KirloskarOilEnginesLtd GVKPowerAndInfrastructureLtd.4.43 Total - Equity IPCALabsLtd Cash&Others 8.93 DivisLaboratoriesLtd. 3.9 TOTAL RanbaxyLaboratoriesLtd EQUITY SECTOR ALLOCATION Pharmaceuticals Software PetroleumProducts Power HealthcareServices Construction Oil Pesticides Auto Telecom-services IndustrialProducts ConsumerNonDurables Trading Enginering Transportation Hardware TaurusEthicalFund S&PCNX50Shariah Nov

7 TAURUS TAX SHIELD - AN OPEN-END EQUITY LINKED SAVING SCHEME (ELSS) Toprovidelongtermcapitalapreciationoverthelifeoftheschemethrough investmentpre-dominantlyinequityshares,besidestaxbenefits. Saleonalbusinesdays.AsperIncomeTaxLaws,theredemptionfacilityis availableafteralock-inperiodof3yearsfromthedateofinvestment. AsperSection80CoftheIncomeTaxAct,anindividualoraHUFisalowed deductionfromincometoanamountuptoamaximumofrs.1lakhby investmentinthescheme.tax-fredividendsinthehandsofinvestors. NAV BSE 200* 1Year Years 6.46 (0.04) 5Years SinceInception Note:Returnsarecalculatedonacompoundedanualisedbasisforaperiodofmorethanone yearandabsolutebasisforaperiodlesthanorequaltoneyear,withreinvestmentof dividends/bonus,ifany. DIVIDEND HISTORY Growthplan:` 3.5perunitinDec.205,1.6perunitinFeb.204,1.1perunitinSept. ` ` 203,Dividendplan:` 2.25perunitinMar.2010,` 2perunitinFeb.2010,` 1.5perunitin Jan.2010,` 1perunitinNov.209,`1perunitinMar.209,` 1perunitinJan.209, ` 1perunitinDec.208. *Industryexposure,scripaum,asetaumscripinvestment,asetinvestmentnotavailableaslistingis awaited. Fund Manager's Comment: Beingalongtermfocusfund,ourstrategyremainsidentifycompaniesand sectorswhichareundervaluedandthosepresentaspectaculargrowthoportunity.equityexposureofthe fundstandsat95.1%.thefundportfoliomaintainsdiversifiedcharacteralbeitsometiltowardsconsumer productsbfsiandautomobiles.weselectstockswithstrongearningmomentumandbusinestability resultinginstrongapreciationinthelongterm.amongthetop10stocks,aurobindopharma,andvoltas hasoutperformedthemarketwhileicicibankandhathwaycablehaveunderperformedthemarket.key AditionincludesBGREnergyandOrientalBankofComerce. Date of Allotment: Mar31,196. Dividend Option introduced on May 6, Net Asset Value (NAV) ` 2.53(D),37.9(G)perunit. AAUM: ` 6.5Cr. Minimum Application Amount: ` 50/-&multiplesof` 50/thereof. Sharpe Ratio: 2.27Standard Deviation: 13.36Alpha: Beta: 0.75 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1yearperiod from30thnovember,209to30thnovember,2010.) Fund Manager: Mr.SadanandShety Best Equity Tax Planning Fund by Businessworld for the year Exit Load - Uptoanyamount(IncludingSIPaplication):NA Switch:TaurusTaxShieldtotherschemeafterlock-inperiodof3yearsexitloadNil. NAV movement in the last one year vis-a-vis BSE RelianceIndustriesLimited 5.82 StateBankofIndia 2.47 AurobindoPharmaLtd TataChemicalsLtd ICICIBankLtd OrientalBankofComerce 2.38 VoltasLtd TataStelLtd EQUITY SECTOR ALLOCATION DenaBank 3.94 Larsen&ToubroLtd InfosysTechnologiesLtd HousingDevelopmentFinanceCorporation1.87 Network18Media&InvestmentsLtd EnginersIndiaLtd HathwayCableAndDatacomLtd AshokLeylandLtd Mahindra&MahindraLtd TataMotorsLtd BajajAutoLtd BharatPetroleumCorpLtd BGREnergySystemsLtd ApoloHospitalsEnterpriseLtd UnitedSpiritsLtd BharatHeavyElectricalsLtd ITCLtd SpicejetLtd SintexIndustriesLtd KotakMahindraBankLtd OnmobileGlobalLtd DivisLaboratoriesLtd Oil&NaturalGasCorporationLtd AgreDevelopersLtd.* 0.0 SundaramFastenersLtd Total - Equity ShriramTransportFinanceCo.Ltd Cash&Others 4.89 IndianHotelLtd TOTAL PantalonRetailIndiaLtd Telecom- 5.0 Dec Jan -10 Feb -10 Mar -10 Apr -10 Banks Auto Finance PetroleumProducts ConsumerNonDurables Pharmaceuticals ConstructionProject Software Media&Entertainment IndustrialProducts Equipment&Acesories Oil AutoAncilaries Hotels Retailing Fertilisers FerousMetals Enginering HealthcareServices Transportation May -10 Jun -10 Jul -10 Aug -10 TaurusTaxShield BSE20 Sep -10 Oct -10 Nov

8 TAURUS NIFTY INDEX FUND - AN OPEN-ENDED INDEX LINKED EQUITY SCHEME PERFORMANCE TheinvestmentobjectiveoftheschemeistoreplicatetheS&PCNXNiftyIndex byinvestinginsecuritiesofthecnxniftyindexinthesameproportion/ weightage. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV S&P CNX Nifty Index 1Month (2.54) (2.58) 3Months SinceInception Note:Returnsarecalculatedoncompoundedanualisedbasisforaperiodof morethanoneyearandabsolutebasisforaperiodlesthanorequaltone year,withreinvestmentofdividends/bonus,ifany. RelianceIndustriesLimited 9.53 MarutiSuzukiIndiaLtd InfosysTechnologiesLtd HeroHondaMotorsLtd ICICIBankLtd CiplaLtd. 0.9 Larsen&ToubroLtd SunPharmaceuticalsLtd ITCLtd KotakMahindraBankLtd HousingDevelopmentFinanceCorpo.5.08 PunjabNationalBank 0.93 HDFCBank 4.64 CairnIndiaLtd StateBankofIndia 4.40 JaiprakashAsociatesLtd TataConsultancyServicesLtd RelianceInfrastructureLtd BhartiAirtelLtd SesaGoaLtd Oil&NaturalGasCorporationLtd SiemensLtd. 0.6 TataMotorsLtd AmbujaCementsLtd. 0.6 TataStelLtd DLFLtd AxisBankLtd. 2.0 StelAuthorityOfIndiaLtd BharatHeavyElectricalsLtd. 1.9 ACLtd Mahindra&MahindraLtd HCLTechnologies 0.5 HindustanUnileverLtd RelianceComunicationsLtd HindalcoIndustriesLtd BharatPetroleumCorpLtd SterliteInd 1.46 RanbaxyLaboratoriesLtd JindalStel&PowerLtd RelianceCapitalLtd NationalThermalPowerCorporation1.34 PowerGridCorporationofIndiaLtd0.35 DrRedyLaboratoriesLtd ReliancePowerLtd 0.34 Gail(India)Ltd SuzlonEnergyLtd 0.20 BajajAutoLtd. 1.2 Total - Equity WiproLtd 1.21 Cash&Others 1.01 TataPowerCompanyLtd TOTAL IDFCLtd Fund Manager's Comment: Theperformanceoftheindexfundcontinues tomirorthereturnofthenifty.theindexsawsomepresureduringthemonth whichisreflectedinitsperformance.butwithastrongearningsgrowthand sustainablegdpgrowth,webelieveindianequityindicescontinuetoremain atractiveforthequityinvestmentandshouldremainonuptrend.theindex fundisagodtolforachievingdiversificationbenefit. Date of Allotment: June19,2010 Net Asset Value (NAV) ` 1.19(D),1.18(G)perunit. AAUM: ` 1.40Cr. Minimum Application Amount: ` 50/-&inmultiplesof` 10/ thereof. Fund Manager: Mr.SadanandShety Exit Load - Uptoanyamount(IncludingSIPaplication):NA Switch: ExitLoad-NIL EQUITY SECTOR ALLOCATION Banks Software PetroleumProducts Auto Finance ConstructionProject ConsumerNonDurables FerousMetals Power Pharmaceuticals Oil Telecom-Services Non-FerousMetals Cement Diversified Gas Minerals/mining 0.67 Construction

9 TAURUS BONANZA FUND - AN OPEN-END EQUITY SCHEME WITH A LARGE CAP FOCUS Date of Allotment: Feb28,195. TaurusBonanzaFundisanopen-endgrowthscheme.Theinvestmentobjective istoprovideinvestorslong-termcapitalapreciation.investmentshalbe Dividend Option introduced on May 6, Net Asset Value (NAV) ` 4.6(D),4.37(G)perunit. primarilyinequityandequityrelatedinstrumentsthatoferscopeforlong-term capitalapreciation.thefundwilalsobeinvestedindebtandmoneymarket instruments. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxas per AAUM: ` 37.37Cr. Minimum Application Amount: ` 50/-&multiplesof` 10/-thereof. Sharpe Ratio: 1.63Standard Deviation: 14.35Alpha: 3.89 Beta: 0.8 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1year periodfrom30thnovember,209to30thnovember,2010.) Fund Manager: Mr.SadanandShety NAV BSE 100* 1Year Years (6.9) (0.3) 5Years SinceInception Exit Load - Uptoanyamount(IncludingSIPaplication): NIL Switch:ExitLoadNIL NAV movement in the last one year vis-a-vis BSE 100 Note:Returnsarecalculatedonacompoundedanualisedbasisforaperiodofmorethanone yearandabsolutebasisforaperiodlesthanorequaltoneyear,withreinvestmentof dividends/bonus,ifany. Bonusintheratiof1:3inOctober203.Dividend-` 2.5perunitinJuly,206from growthoption RelianceIndustriesLimited 7.25 MarutiSuzukiIndiaLtd InfosysTechnologiesLtd 5.63 GujaratStatePetronetLtd HousingDevelopmentFinanceCorporation4.60 BhartiAirtelLtd ITCLtd. 4.4 CoalIndiaLtd UnitedSpiritsLtd TataMotorsLtd ICICIBankLtd TataStelLtd Oil&NaturalGasCorporationLtd Mahindra&MahindraFncialServicesLtd.2.01 StateBankofIndia 3.64 Larsen&ToubroLtd. 1.7 HCLTechnologies 3.52 IndianHotelLtd HDFCBank 3.40 HindalcoIndustriesLtd GrasimIndustriesLtd KotakMahindraBankLtd SunPharmaceuticalsLtd RelianceInfrastructureLtd PantalonRetailIndiaLtd EnginersIndiaLtd TataConsultancyServicesLtd SterliteIndustries 0.92 ThermaxIndiaLtd AgreDevelopersLtd* 0.0 DLFLtd Total - Equity RanbaxyLaboratoriesLtd Cash&Others 3.31 Mahindra&MahindraLtd TOTAL BharatHeavyElectricalsLtd *Industryexposure,scripaum,asetaumscripinvestment,asetinvestmentnotavailable aslistingisawaited. Fund Manager's Comment: Thefundcontinuedtobefulyinvestedwith96.7%asthequity portion,wearekeping3.3%cashcomponentogeneratealphasoutofmispricedsecurities duringvolatilemarkets.asafirmbelieverofindia'slongtermgrowthstory,theportfolioisfocused onthelargecapcompaniesthosehavepositionedthemselvestotakemaximumadvantageof growingeconomywithrelativelystrongacumen.topsectoralocationscontinuestobe dominatedbybfsi,software'sandconsumernondurable.beingalargecapfundswelokfor asustainableandconvincingideainthelimiteduniverseofstocks.amongthetop10stocks, Infosystechnologyhasoutperformedthemarketwhile,RelianceIndustries,underperformedthe market.keyaditionduringthemonthwassunpharmandbhartiairtel EQUITY SECTOR ALLOCATION Banks Software ConsumerNonDurables Auto PetroleumProducts Finance Pharmaceuticals Oil Cement Retailing Construction Gas Telecom-Services Non-FerousMetals Minerals/mining FerousMetals FerousMetals Hotels Power Enginering TaurusBonanzaFund BSE Nov

10 TAURUS DISCOVERY FUND - AN OPEN-END EQUITY FUND WITH MID CAP AND SMALL CAP FOCUS TheprimaryobjectiveoftheSchemeistoidentifyandselectlowpricedstocks throughpricediscoverymechanism,whichwouldbroadlyinclude: To capitaliseonavailableoportunityongrowthpotentialoferedby undervaluedpenystocks. Suchstocksbeinglowpricedandifdividend paying,decentdividendyieldwilgivedesiredcushioninthevolatilecapital market. Lowersideriskisminimuminsuchinvestments. Manyofsuchcases whereinvestmentwilbemade,maybeturnaroundcases,therefore,greater potentialforimprovementinnav. 10 Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV CNX Midcap Index* 1Year Years (15.03) Years SinceInception Note:Returnsarecalculatedonacompoundedanualisedbasisforaperiodofmore thanoneyearandabsolutebasisforaperiodlesthanorequaltoneyear,with reinvestmentofdividends/bonus,ifany. Nameofthescrip %tonetasets Nameofthescrip %tonetasets UnitedSpiritsLtd KotakMahindraBankLtd SundaramFastenersLtd RalisIndiaLtd. 2.9 Network18Media&InvestmentsLtd IndianHotelLtd. 2.8 AurobindoPharmaLtd GujaratStatePetronetLtd VoltasLtd FederalBankLtd ThermaxIndiaLtd TitanIndustries 2.18 HathwayCableAndDatacomLtd DenaBank 1.92 SpicejetLtd StridesArcolabLtd OrientalBankofComerce 4.27 PiramalGlasLtd OnmobileGlobalLtd DivisLaboratoriesLtd SintexIndustriesLtd KirloskarOilEnginesLtd GVKPowerAndInfrastructureLtd AgreDevelopersLtd* 0.0 PantalonRetailIndiaLtd Total - Equity AndhraBank 3.60 Cash&others 8.26 MercatorLinesLtd TOTAL *Industryexposure,scripaum,asetaumscripinvestment,asetinvestmentnot availableaslistingisawaited. Date of Allotment: Sep5,194. Net Asset Value (NAV) ` 16.95(D),16.94(G)perunit. AAUM: ` 31.54Cr. Minimum Application Amount: ` 50/-&multiplesof` 10/-thereof. Sharpe Ratio: 2.12Standard Deviation: 14.42Alpha:15.1 Beta: 0.7 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1year periodfrom30thnovember,209to30thnovember,2010.) Fund Manager: Mr.SadanandShety Fund Manager's Comment: Valuecreationthroughinvestmentsinmidand Media&Entertainment smalcapcompaniesisbasicthemeofthefund.weincludecompaniesinthe portfoliowithduediligenceandthosequalifyonparameterslikesignsofimproving IndustrialProducts businesenvironment,strongfundamentalsbutundervalued.thequityinvestment Telecom-Equipment&Acesories standsat91.7%.thisportfolioisdesignedtoprovideinvestorslargealphas Power matchingwithacomfortablerisk.pharmaceuticals,consumernondurableand Bankscontinuetoremainourtopsectorsforinvestment.Amongthetop10stocks, Retailing AurobindoPharmandSundaramfastenersoutperformedthemarketwhile Pesticides HathwayCablesunderperformedthemarket.KeyAditionincludesOBCand Hotels GVKPower. Gas Exit Load - Uptoanyamount(IncludingSIPaplication): 1%ifexitedbefore1year Nilifexitedafter1year Switch:EquitytoEquity-ExitLoadNil,EquitytoDebt-Relevantexitload aplicableasmentionedabove,equitytoels-relevantexitloadaplicable asmentionedabove. NAV movement in the last one year vis-a-vis CNX Midcap Index EQUITY SECTOR ALLOCATION Banks ConsumerNonDurables Pharmaceuticals Transportation AutoAncilaries Finance ConstructionProject TaurusDiscoveryFund CNXMidcapIndex Nov

11 TAURUS ULTRA SHORT TERM BOND FUND - AN OPEN-END DEBT SCHEME Togeneratereturnswithigherliquidityandlowvolatilityfromaportfoliof moneymarketandebtinstruments.however,thereisnoasurancethathe investmentobjectiveoftheschemewilberealised. for Dividend Distribution Entry Load Switch:ExitLoadNIL. Exit Load NIL Retail Plan: Nil Institutional Plan: Nil Super Institutional Plan: Nil Fund Manager's Comment: situationcontinuedtoremaintightduring NovemberonacountofvariousequityIPO'sandlargesurplusesofGOIwithRBI.The AUMofthefundwitnesedahealthyincreaseduringthemonthandtheincrementalcash wasdeployedinbankasetstherebyshowingahealthyincreaseinbankasetalocation overthepreviousmonthandtheschemealsoreduceditsaveragematuritycomparedto thepreviousmonth.theacrualsoftheschemeincreasedbecausetheincremental flows/maturitieswereredeployedathigherlevels.wecontinuedtodeliverconsistent performanceduringthepreviousmonth.wewouldcontinuetohaveajudiciousmixof asetsinordertodeliverconsistentoptimalperformance. CRISIL Rated AAAf Fund, CARE Rated AAAf Fund Date of Allotment: December1,208. Net Asset Value (NAV): Retail ` 1, (D),1,14.712(G),1, (W)perunit. Institutional ` 1, (D),1,17.626(G)perunit. Super Institutional ` 1, (D),1, (G),1,01.72(W)perunit. Average Maturity Period: 0.28years. AAUM: ` Cr. Retail: Sharpe Ratio: 12.79Standard Deviation: 0.12Alpha: 1.5 Institutional: Sharpe Ratio:13.51Standard Deviation: 0.12Alpha: 1.62 Super Institutional: Sharpe Ratio:15.42Standard Deviation: 0.1Alpha:1.7 Minimum Application Amount: Individuals Corporate NRI Retail Plan: ` 5,0/-peraplicationandthereafterinmultiples Short Term 12.5%+7.5% 20%+7.5%12.5%+7.5% of` 1,0/-.thereof Bond Fund surcharge+surcharge+surcharge+ Institutional Plan: ` 1cr.peraplicationandthereafterin 3%ces 3%ces 3%ces multiplesof` 10/-thereof. Total Tax % 2.145%13.841% Super Institutional Plan: ` 5crs.peraplicationandthereafterin multiplesof` 10/-thereof. Additional Subscription Amount: Money Market and 25%+7.5%25%+7.5%25%+7.5% Retail Plan: ` 1,0/-peraplicationandthereafterinmultiplesof` 1,0/-. Liquid Schemes surcharge+surcharge+surcharge+ Institutional Plan: ` 1lakhperaplicationandthereafterin 3%ces 3%ces 3%ces multiplesof` 10/-. Super Institutional Plan: ` 1lakhperaplicationandthereafter Total Tax %27.681%27.681% inmultiplesof` 10/-. Fund Manager: Mr.RahulPal&Mr.PankajJain(Co-FundManager) NAV Rated AAAf by CARE Retail Institutional Super Institutional Rated AAAf by CRISIL Crisil Liquid Fund Index* 3Months Months Year SinceInception Thepastperformancemayormaynotbesustainedinfuture. : Note:(1)Returnsarecalculatedonacompoundedanualisedbasisfora periodofmorethanoneyearandabsolutebasisforaperiodlesthanorequal toneyear,withreinvestmentofdividends/bonus,ifany. CDs Rating NCDs Rating CentralBankofIndia PR DecanChronicleHoldingsLtd. PR PunjabNationalBank P FulertonIndiaCreditCo.Ltd. LA+4.43 StateBankofIndia P IndiaInfolineInvestmentServLtd.A StateBankofHyderabad P NamanFinance&InvestmentPvtLtd.LA1.16 StateBankofPatiala P TOTAL NCDs CorporationBank P PTCs IDBIBankLtd. A CLS17TRUST201SRACAREA4.60 TOTAL CDs Originator-KotakMahindraPrim CPs Rating UnderlyingAsetExposure-Borowforgeneral corporateloan ReligareFinvestLtd. A Total PTCs 4.60 FutureCapitalHoldingsLtd. PR CBLOTransaction FutureCapitalFinancialSerLtd. A Cash&CashReceivables 1.32 JMFinancialProductsPrivateLtd.P TOTAL IndiaInfolineLtd. A1+1.9 FulertonIndiaCreditCo.Ltd. RelianceCapitalLtd. A A TOTAL CPs NAV movement in the last one year vis-a-vis Crisil Liquid Fund Index Taurus Ultra ShortTermBondFund- SuperInsti CrisilLiquidfundindex FaceValuechangedfrom` 10tò10w.e.f.20thFeb.,2010.HistoricalNAVadjustedaspernew Facevalueof` 10 N0v-10 11

12 TAURUS LIQUID FUND - AN OPEN-END LIQUID SCHEME Togeneratesteadyandreasonableincome,withlowriskandhighlevelof liquidityfromaportfoliofmoneymarketsecuritiesandhighqualitydebt. Taxfredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV Crisil Liquid Fund Index* 3Months Months Year Years SinceInception Thepastperformancemayormaynotbesustainedinfuture. : Note:Returnsarecalculatedonacompoundedanualisedbasisforaperiod ofmorethanoneyearandabsolutebasisforaperiodlesthanorequaltone year,withreinvestmentofdividends/bonus,ifany. Name of the scrip Rating % to Net Assets CRISIL Rated AAAf Fund InstitutionalandSuperInstitutionalplanintroducedw.e.f.26thSep,208 Date of Allotment: Aug31,206. Net Asset Value (NAV) ` 1, (D),1, (G)perunit. Institutional ` 1, (G)perunit. Super Institutional ` 1,0.0214(D),1, (G),1,0.9746(W)perunit. Average Maturity Period: 0.04years. AAUM: ` Cr. Minimum Application Amount: Retail Plan: ` 5,0/-peraplicationandthereafterinmultiples of` 1,0/-thereof. Institutional Plan: ` 1cr.peraplicationandthereafterin multiplesof` 10/-thereof. Super Institutional Plan: ` 5crs.peraplicationandthereafterin multiplesof` 10/-thereof. Additional Subscription Amount: Retail Plan: ` 1,0/-peraplicationandthereafterinmultiples of` 1,0/-. Institutional Plan: ` 1lakhperaplicationandthereafterin multiplesof` 10/-. Super Institutional Plan: ` 1lakhperaplicationandthereafter inmultiplesof` 10/-. Sharpe Ratio: 7.05Standard Deviation: 0.16Alpha: 1.13 (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1year periodfrom30thnovember,209to30thnovember,2010.) CDs UcoBankLtd. P BankofBaroda P Fund Manager: Mr.PankajJain CentralBankofIndia PR PunjabNationalBank PR CanaraBank P YesBankLtd A DhanalaxmiBankLtd. PR CorporationBank P Total CDs CPs Switch:ExitLoadNIL. IndiabulsSecuritiesLtd. P NAV movement in the last one year vis-a-vis Crisil EdelweisCapitalLtd. P JMFinancialProductsPrivateLtd. P Liquid Fund Index IVRCLInfraAndProjectsLtd. F1+(ind) EdelweisSecuritiesLtd. P RaymondLtd. PR RelianceCapitalLtd. A MagmaFincorpLtd. PR TelevisionEightenIndiaLtd. A TataMotorsLtd. P HindustanConstructionCompanyLtd. P ReligareFinvestLtd. A Total CPs TaurusLiquidFund NCDs KotakMahindraPrimusLtd. P CrisilLiquidFundIndex Total NCDs 2.15 CBLOTransaction Cash&CashReceivables 0.14 TOTAL FaceValuechangedfrom`10tò10w.e.f.20thFeb.,2010.HistoricalNAVadjusted Fund Manager's Comment: situationcontinuedtoremaintightduringnovember onacountofvariousequityipo'sandlargesurplusesofgoiwithrbi.theaumofthefund aspernewfacevalueof` 10 witnesedahealthyincreaseduringthemonthandtheincrementalcashathemonthendwould bedeployedtogeneratehigheracrualsforthescheme.theacrualsoftheschemeincreased becauseoftheriseinshorttermratesandincrementalflows/maturitieswereredeployedat higherlevels.wecontinuedtodeliverconsistentperformanceduringthepreviousmonth.we wouldcontinuetohaveajudiciousmixofasetsinordertodeliverconsistentoptimal performance. Dec -09 Jan -10 Feb -10 Mar -10 Apr -10 May -10 Jun -10 Jul -10 Aug -10 Rated AAAf by CRISIL Sep -10 Oct -10 Nov

13 TAURUS SHORT TERM INCOME FUND - AN OPEN-END BOND SCHEME (formerly known as Taurus Income Fund) Togenerateincomeandcapitalapreciationwithlowvolatilitybyinvestingin adiversifiedportfoliofshortermdebtandmoneymarketinstruments. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV Crisil Short Term Bond Fund Index* 6Months Year Years Years SinceInception *Benchmarkindexchangedfrom9thApril,2010. Note:Returnsarecalculatedonacompoundedanualisedbasisfora periodofmorethanoneyearandabsolutebasisforaperiodlesthanor equaltoneyear,withreinvestmentofdividends/bonus,ifany. DIVIDEND HISTORY ` 12perunitdividendinJuly2010. ` 0.30perunitdividendinFebruary202. Fund Manager's Comment: Theschemecontinuestoberuninavery conservativemanerkepingalowaveragematurity/durationforthe portfolio.thishasresultedinmaintainingperformanceintheschemeinarising interestratescenario.withtheuncertainliquidityenvironmentinthecoming monthsandlikelypresureoninterestratestocontinue,wewilcontinuewith ourpolicyofmaintaininglowportfolioduration.wewouldcontinuetohavea judiciousmixofasetsinordertodeliverconsistentoptimalperformance. Date of Allotment: Aug18,201. Net Asset Value (NAV) `1,529.15(D),1, (G)perunit. AAUM: ` 37.59Cr. Minimum Application Amount: ` 50/-&multiplesof` 10/- thereof. Fund Manager: Mr.RahulPal&Mr.PankajJain(Co-FundManager) Exit Load - Uptoanyamount(IncludingSIPaplication): 0.25%ifexitedbefore1month Nilifexitedafter1month Switch:Debtodebt/Equity-relevantexitloadaplicableasmentionedabove. Name of the scrip % to Net Assets CDs Rating StateBankofIndia P DhanalaxmiBankLtd. PR Total CDs CPs EdelweisCapitalLtd P ReligareFinvestLtd A EdelweisSecuritiesLtd P Total CPs CBLOTransaction 0.61 Cash&CashReceivables 0.9 TOTAL NAV movement in the last one year vis-a-vis Crisil Short Term Bond Fund Index TaurusShortTermIncomeFund CrisilShortTermBondFundIndex 1460 Nov-10 FaceValuechangedfrom`10tò10w.e.f.26thApr.,2010.HistoricalNAV adjustedaspernewfacevalueof` 10 13

14 TAURUS GILT FUND - AN OPEN-END GILT SCHEME Toprovideriskfrereturnstotheinvestorsevenforashorterdurationthrough investmentinsecuritiesisuedbycentralgovernmentorstategovernmentor anysecurityunconditionalyguarantedbygovernmentofindia.investment wilalsobemadeinreposandreverserepos. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV I-Sec Composite Index 6Months Year Years Years SinceInception Note:Returnsarecalculatedonacompoundedanualisedbasisfora periodofmorethanoneyearandabsolutebasisforaperiodlesthanor equaltoneyear,withreinvestmentofdividends/bonus,ifany. ` 0.30perunitdividendeclaredintheschemeinFebruary202. Fund Manager's Comment: Theschemecontinuestomaintaincash becauseofitslowasetundermanagement. Date of Allotment: Aug18,201. Net Asset Value (NAV) ` (D), (G)perunit. AAUM: ` 0.01Cr. Minimum Application Amount: ` 50/-&multiplesof` 10/- thereof. Sharpe Ratio: -5.32Standard Deviation: 0.32Alpha: (TheabovemeasureshavebencalculatedbytakingmonthendNAVfor1yearperiod from30thnovember,209to30thnovember,2010.) Fund Manager: Mr.PankajJain. Exit Load - Uptoanyamount(IncludingSIPaplication): 1%ifexitedbefore1year Nilifexitedafter1month Switch:Debtodebt/Equity-relevantexitloadaplicableasmentioned above. Name of the scrip % to Net Assets CBLOTransaction Cash&CashReceivables TOTAL NAV movement in the last one year vis-a-vis I Sec Composite Index TaurusGiltFund ISecCompositeIndex 1.50 Nov-10 14

15 TAURUS MIP ADVANTAGE - AN OPEN - ENDED INCOME SCHEME Togenerateregularincomethroughaportfoliofixedincomesecurities,Gold ETFsandequity&equityrelatedinstruments. Tax-fredividendsinthehandsofinvestors,noGiftTax,noWealthTaxasper NAV 75% - CRISIL MIP Blended fund Index & 25% Price of Gold 1Month (0.59) Months SinceInception Note:Returnsarecalculatedoncompoundedanualisedbasisforaperiodof morethanoneyearandabsolutebasisforaperiodlesthanorequaltone year,withreinvestmentofdividends/bonus,ifany. DIVIDEND HISTORY ` 0.05perunitdividendinOctober2010. RelianceIndustriesLtd TataMotorsLtd AurobindoPharmaLtd SpicejetLtd UnitedSpiritsLtd DenaBank 0.50 BGREnergySystemsLtd AshokLeylandLtd TataChemicalsLtd SiemensLtd BhartiAirtelLtd Total - Equity SundaramFastenersLtd DEBT IndianHotelLtd. 1.1 Exchange Traded Funds HCLTechnologies 1.1 GoldBenchmarkETF(GoldBes) 9.59 HathwayCableAndDatacomLtd Corporate Bond ICICIBankLtd NamanFinance&InvestmentPvtLtd CoalIndiaLtd RelianceCapitalLtd BajajAutoLtd IDBIBankLtd GVKPowerAndInfrastructureLtd Commercial Paper OnmobileGlobalLtd FulertonIndiaCreditCo.Ltd Network18Media&InvestmentsLtd Floating Rate Note Fund Manager's Comment: Theschememaintainedahighalocationtomoney marketinstrumentshavinglowmaturityandalsocreatedtradingoportunitiesinthe 10yearGOIsecuritybenchmark.Wewilcontinuewithourstrategyoftradingin giltsinthescheme.wewilgradualyincreasethematurityprofileofthedebtportion oftheschemeasclarityonthedirectionofratesincrease. Date of Allotment: August6,2010 Net Asset Value (NAV) ` (D), (G)perunit. AAUM: ` 86.38Cr. Minimum Investment Amount: a)growthoption:` 50/-&multiplesof` 10/-thereof b)dividendoption:` 250/-&multiplesof` 10/-thereof c)aditionalpurchase:`10/-&multiplesof` 10/-thereof Fund Manager: Mr.RahulPal(Debt)&Mr.SadanandShety(Equity& GoldETFs) Investment Amount - Uptoanyamount Exit Load GujaratStatePetronetLtd KotakMahindraBankLtd Media&Entertainment TataStelLtd CBLOTransaction 6.65 Minerals/mining VoltasLtd Cash&CashReceivables 2.95 DLFLtd. 0.6 TOTAL Telecom-Equipment&Acesories - RelianceInfrastructureLtd Uptoanyamount(IncludingSIP) 1.0%ifexitedupto1year&Nilifexitedafter 1yearfromthedateofalotment Revised Exit Load %ifexitedupto6months (w.e.f. 1/12/2010) 1.0%ifexitedafter6months &upto1yearnilifexitedafter1year i)aswitch-out/withdrawalunderswpwilalsoatractanexitloadlikeanyredemption. i)incaseofsip/stp,theabovecriteriaforexitloadwilbeaplicableforeachinstalment. i)exitloadisaplicableforaltheoptionsundertheschemebyaplyingfirstinfirstbasis iv)noexitloadischargeableincaseofswitchesmadebetwendiferentsub-optionsofthe sameoption. EQUITY SECTOR ALLOCATION Auto PetroleumProducts Banks Power Pharmaceuticals ConsumerNonDurables Fertilisers Telecom-Services AutoAncilaries Hotels Software Finance Gas FerousMetals ConstructionProject Construction Transportation