CIO LETTER - SEPTEMBER 2018 Mr. Sanjay Chawla Chief Investment Officer Dear Investors, Warm Greetings! Indian stock markets significantly underperformed global markets last month. In USD terms BSE Sensex corrected by 9% vs positive returns by most global indices. US and European markets were up by 2-2.5% during the month. BSE Midcap and Small cap indices underperformed broader indices. Year to date, Sensex is up by 5% vs negative return from BSE Midcap and Small cap indices. Amongst sectors other than IT, returns were negative for most of them. Realty, PSUs and Banks were the worst performers during the month. Globally, US- China trade war continued to make headline news with US now imposing tariffs on USD200bn of imports from China. China has retaliated with tariff on USD60bn of imports from US. Separately the Fed raised rates by 25bps to 2-2.25%, retaining its hawkish view. The US central bank still foresee another rate hike in December, three more next year and one increase in 2020. That would put the benchmark overnight lending rate at above the Fed s estimated neutral rate of interest, rates which neither stimulate nor restrict the economy. Locally, default at investment grade IL&FS and sharp decline in bond prices for housing finance companies have brought funding/liquidity situation of NonBanking Financial Companies (NBFCs) into fresh scrutiny and resulted in some sharp sell-offs. As markets turn cautious, we believe that borrowing costs may rise, although liquidity situation for most NBFCs is likely to remain manageable. Coming to progress of monsoon, till September 26th, cumulative rainfall was 9.1% below normal with the weekly rainfall 19.7% below normal. Out of the 36 sub-divisions across India, till date, 25 have received normal rainfall, 10 have received deficient rainfall while one has received excess rainfall. In September, while MFs were net buyers up to USD 844 mn while, Foreign Investors selling continued and stood at USD 1.1b. In FY18, Domestic Institutional Investors bought USD11.1b, while FPIs were net sellers to the tune of USD2.1b. The Index of Industrial Production grew 6.6% in Jul 18, down marginally, from 6.9% in the previous month. The growth came on low base IIP grew just 1% in Jul 17. Index heavyweight manufacturing contributed 540bps to the growth followed by electricity and mining (50bps each). Headline CPI inflation fell to its 10-month low of 3.69% in Aug 18. Sequentially, retail inflation fell 48 bps from 4.17% in Jul 18. In the near term, market direction will be led by quarterly earnings and management commentary. Besides earnings we are also heading in to elections. We have five state elections over Oct Nov and the general elections in 2019. Market volatility may remain high over the next few months. Considering the recent correction, we remain constructive on Indian equities on medium to long term horizon as reforms being implemented, are likely to start paying off over this period in terms of higher and sustainable growth and improved earning visibility. Happy Investing! Sources : Bloomberg, Economic Times 2
How To Read Factsheet Pg 3 Baroda Pioneer Multi Cap Fund (formerly known as Baroda Pioneer Growth Fund) Pg 4 Baroda Pioneer ELSS 96 Pg 5 Baroda Pioneer Mid Cap Fund Pg 6 Baroda Pioneer Large Cap Fund Pg 7 Baroda Pioneer Banking and Financial Services Fund Pg 8 Baroda Pioneer Hybrid Equity Fund (formerly known as Baroda Pioneer Balance Fund) Baroda Pioneer Conservative Hybrid Fund (formerly known as Baroda Pioneer Monthly Income Plan (MIP) Fund) (Monthly income is not assured and is subject to the availability of distributable surplus) Pg 9 Pg 10 INDEX Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. How To Read Factsheet? Baroda Pioneer Credit Risk Fund (formerly known as Baroda Pioneer Credit Opportunities Fund) Fund Manager : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount : This is the minimum investment amount for an existing investor in a mutual fund scheme. Yield to Maturity : The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, coupon interest rate and time to maturity. SIP : SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15 th of the month in an equity fund for a period of three years. NAV : The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. : A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. Entry Load : A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs. 101. Note : SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load : Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is Rs 100 and the exit load is 1%, the redemption price would be Rs 99 Per Unit. Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield Standard Deviation : Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio : The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta : Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM : AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings : The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of Scheme : The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile : Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds. Macaulay Duration: Is the weighted average term to maturity of the cash flows from an instrument. The weight of each cash flow is determined by dividing the present value of the cash flow by the price. Macaulay duration is a measure of interest rate sensitivity of a Fixed income instrument. Higher the Macaulay duration, higher would be the interest rate risk. Investors may refer to Scheme Information Document of the fund for further details. Pg 11 Baroda Pioneer Gilt Fund Pg 12 Baroda Pioneer Income Fund Pg 13 Baroda Pioneer Dynamic Bond Fund Pg 14 Baroda Pioneer Short Term Bond Fund Pg 15 Baroda Pioneer Treasury Advantage Fund Pg 16 Baroda Pioneer Ultra Short Duration Fund Pg 17 Baroda Pioneer Liquid Fund Pg 18 Investment Performance Pg 19 SIP Returns Pg 22 Dividend History Pg 23 3
Baroda Pioneer Multi Cap Fund 1 Multi Cap Fund - An open ended equity scheme investing across large cap, mid-cap and small cap stocks. 1 Formerly known as Baroda Pioneer Growth Fund To generate long term capital appreciation from an actively managed portfolio of equity & equity related instruments. September 12, 2003 S&P BSE 200^ 5,000/- & in multiples of 1/- thereafter Exit Load: 1% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units B. Dividend Option 2. Re-investment (default sub-option in case C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 723.66 Crs AUM 686.91 Crs EQUITY & EQUITY RELATED Infosys Ltd. Software 7.44% HDFC Bank Ltd. Banks 6.43% ICICI Bank Ltd. Banks 4.67% Sun Pharmaceutical Ltd. Pharmaceuticals 3.22% Divi's Laboratories Ltd. Pharmaceuticals 3.05% Tech Mahindra Ltd. Software 2.93% Reliance Ltd. Petroleum Products 2.93% ITC Ltd. 2.82% Mahindra & Mahindra Financial Services Ltd. Finance 2.68% Britannia Ltd. 2.54% WABCO India Ltd. Auto Ancillaries 2.51% Kansai Nerolac Paints Ltd. 2.48% Mphasis Ltd. Software 2.39% Shriram Transport Finance Company Ltd. Finance 2.35% Larsen & Toubro Ltd. Construction Project 2.34% Maruti Suzuki India Ltd. Auto 2.25% RBL Bank Ltd. Banks 2.24% Jindal Steel & Power Ltd. Ferrous Metals 2.14% Whirlpool of India Ltd. Consumer 1.95% Housing Development Finance Finance 1.93% Titan Company Ltd. Consumer 1.88% Bharat Financial Inclusion Ltd. Finance 1.81% Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.68% Astral Poly Technik Ltd. Industrial Products 1.68% Coal India Ltd. Minerals/Mining 1.63% Axis Bank Ltd. Banks 1.56% Cummins India Ltd. Industrial Products 1.37% State Bank of India Banks 1.35% Blue Star Ltd. Consumer 1.32% SBI Life Insurance Company Ltd. Finance 1.30% Marico Ltd. 1.21% Security and Intelligence Services (I) Ltd. Commercial Services 1.20% Godrej Consumer Products Ltd. 1.12% Larsen & Toubro Infotech Ltd. Software 1.12% Oracle Financial Services Software Ltd. Software 1.11% Sun TV Network Ltd. Media & Entertainment 1.07% Mahindra & Mahindra Ltd. Auto 1.07% Bharat Forge Ltd. Industrial Products 1.01% Petronet LNG Ltd. Gas 0.98% Punjab National Bank Banks 0.96% Castrol India Ltd. Petroleum Products 0.83% Yes Bank Ltd. Banks 0.80% Shree Cement Ltd. Cement 0.79% Sadbhav Engineering Ltd. Construction Project 0.69% Bharti Airtel Ltd. Telecom - Services 0.67% Tata Motors Ltd. Auto 0.65% Natco Pharma Ltd. Pharmaceuticals 0.44% Bajaj Finance Ltd. Finance 0.32% Total 92.91% Margin Fixed Deposits HDFC Bank Ltd. Unrated 0.33% Total 0.33% CBLO / Reverse Repo Investments 6.66% Total 6.66% Net Receivable/Payable 0.10% Total 0.10% Risk Profile 28 September 2018 Standard deviation 13.09% BANK Top 10 Sectors Sharpe@ 0.004 Beta 1.02 Turnover (last 12 months) 0.88 @risk free rate (FBIL Overnight MIBOR) 6.60% Banks 18.01% Software 14.99% Finance 10.39% Consumer Non 10.17% Pharmaceuticals 8.39% Consumer 5.15% Industrial Products 4.06% Auto 3.97% Petroleum Products 3.76% Construction Project 3.03% 2.71% Growth 91.99 Plan B (Direct) 1.60% Dividend 31.80 Fund Manager Growth 96.86 Dividend 31.76 Mr. Sanjay Chawla & (Experience 29 Years) Mr. Dipak Acharya (Experience 13 Years) & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015 Capital appreciation over long term. Investment predominantly in equity and equity related instruments. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 ^ For Disclaimer please refer page no 21 4
Baroda Pioneer ELSS 96 An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The main objective of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, 1961. March 31, 1996 S&P BSE 200^ 500/- & in multiples of 1/- thereafter Exit Load: Nil B. Dividend Option C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 145.12 Crs AUM 137.18 Crs EQUITY & EQUITY RELATED Infosys Ltd. Software 7.19% HDFC Bank Ltd. Banks 6.58% Sun Pharmaceutical Ltd. Pharmaceuticals 3.64% Mphasis Ltd. Software 3.42% ICICI Bank Ltd. Banks 3.34% Axis Bank Ltd. Banks 3.13% Larsen & Toubro Ltd. Construction Project 3.01% Dabur India Ltd. Mahindra & Mahindra Financial Services Ltd. 2.96% Finance 2.92% City Union Bank Ltd. Banks 2.85% Reliance Ltd. Petroleum Products 2.75% V-Mart Retail Ltd. Retailing 2.74% ITC Ltd. Kansai Nerolac Paints Ltd. 2.71% 2.68% WABCO India Ltd. Auto Ancillaries 2.51% Tech Mahindra Ltd. Software 2.45% Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.41% Whirlpool of India Ltd. Consumer 2.37% Maruti Suzuki India Ltd. Auto 2.36% Tamil Nadu Newsprint & Papers Ltd. Shriram Transport Finance Company Ltd. Paper 2.36% Finance 2.35% RBL Bank Ltd. Banks 2.24% Bharat Financial Inclusion Ltd. Finance 2.08% Coal India Ltd. Minerals/Mining 2.04% Housing Development Finance Finance 1.92% Balkrishna Ltd. Auto Ancillaries 1.86% Gulf Oil Lubricants India Ltd. Petroleum Products 1.69% Security and Intelligence Services (I) Ltd. Commercial Services 1.49% Blue Star Ltd. Consumer 1.24% Tata Motors Ltd. Auto 1.22% Marico Ltd. 1.21% PNC Infratech Ltd. Construction 1.20% Abbott India Ltd. Pharmaceuticals 1.13% Tata Elxsi Ltd. Software 1.10% Mahindra & Mahindra Ltd. Auto 1.07% Petronet LNG Ltd. Gas 1.07% Indian Bank Banks 0.99% Gruh Finance Ltd. Finance 0.98% Yes Bank Ltd. Banks 0.94% Larsen & Toubro Infotech Ltd. Software 0.77% Bosch Ltd. Auto Ancillaries 0.73% Gabriel India Ltd. Auto Ancillaries 0.35% Total 94.05% CBLO / Reverse Repo Investments 9.46% Total 9.46% Net Receivable/Payable -3.51% Total -3.51% Top 10 Sectors Risk Profile 28 September 2018 Standard deviation 16.79% Sharpe@ 0.00 Beta 1.05 Turnover (last 12 months) 2.87% Plan B (Direct) 2.08% Fund Manager Mr. Sanjay Chawla & (Experience 29 Years) 1.04 @risk free rate (FBIL Overnight MIBOR) 6.60% Mr. Dipak Acharya (Experience 13 Years) & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015 BANK Banks 20.07% Software 14.93% Finance 10.25% Capital growth over long term. Investment predominantly in equity and equity related instruments. Growth 42.87 Bonus 42.87 Dividend 27.84 Growth 45.79 Bonus 45.79 Dividend 33.38 The Bonus Option in the Schemes has been discontinued effective June 08, 2015 ^ For Disclaimer please refer page no 21 Consumer Non 9.56% Pharmaceuticals 7.18% Auto Ancillaries 5.45% Auto 4.65% Petroleum Products 4.44% Consumer 3.61% Construction Project 3.01% 5
Baroda Pioneer Mid-Cap Fund Mid Cap Fund An open-ended equity scheme pre-dominantly investing in mid cap stocks. The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of growth oriented mid cap stocks. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized. October 4, 2010 S&P BSE Mid-cap index^ 5,000/- & in multiples of 1/- thereafter Exit Load: 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units. B. Dividend Option ; 2. Reinvestment (default sub-option in case C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 46.29 Crs AUM 43.64 Crs EQUITY & EQUITY RELATED Divi's Laboratories Ltd. Pharmaceuticals 4.51% RBL Bank Ltd. Banks 4.11% The Indian Hotels Company Ltd. Hotels, Resorts And Other Recreational Activities 4.08% WABCO India Ltd. Auto Ancillaries 3.95% Torrent Pharmaceuticals Ltd. Pharmaceuticals 3.79% AIA Engineering Ltd. Industrial Products 3.67% Bharat Financial Inclusion Ltd. Finance 3.57% Solar India Ltd. Chemicals 3.16% Cummins India Ltd. Industrial Products 3.08% City Union Bank Ltd. Banks 3.05% CESC Ltd. Power 3.01% Mphasis Ltd. Software 2.96% Balkrishna Ltd. Auto Ancillaries 2.92% Emami Ltd. 2.83% Alkem Laboratories Ltd. Pharmaceuticals 2.82% Whirlpool of India Ltd. Consumer 2.78% Persistent Systems Ltd. Software 2.71% Sundram Fasteners Ltd. Auto Ancillaries 2.66% Mahindra & Mahindra Financial Services Ltd. Finance 2.48% Castrol India Ltd. Petroleum Products 2.45% Jubilant Foodworks Ltd. 2.39% Astral Poly Technik Ltd. Industrial Products 2.26% Top 10 Sectors Kansai Nerolac Paints Ltd. Sterlite Technologies Ltd. Telecom - Equipment & Accessories 2.11% 2.02% Abbott India Ltd. Pharmaceuticals 2.00% Shriram Transport Finance Company Ltd. Dish TV India Ltd. Security and Intelligence Services (I) Ltd. Finance 1.98% Media & Entertainment 1.65% Commercial Services 1.56% Punjab National Bank Banks 1.37% Tata Elxsi Ltd. Software 1.32% Larsen & Toubro Infotech Ltd. Software 1.32% Simplex Infrastructures Ltd. Construction 1.14% Indian Bank Banks 1.04% Gruh Finance Ltd. Finance 0.98% Canara Bank Banks 0.61% Bank of India Banks 0.53% Union Bank of India Banks 0.53% Gabriel India Ltd. Auto Ancillaries 0.37% Total 89.77% CBLO / Reverse Repo Investments 7.94% Total 7.94% Net Receivable/Payable 2.29% Total 2.29% Risk Profile 28 September 2018 Standard deviation 15.00% Sharpe@ (0.06) Beta 0.89 Turnover (last 12 months) 1.24 @risk free rate (FBIL Overnight MIBOR) 6.60% Pharmaceuticals 13.12% BANK Banks 11.24% Auto Ancillaries 9.90% Industrial Products 9.01% Finance 9.01% Software 8.31% Consumer Non 7.33% Hotels, Resorts And Other Recreational Activities 4.08% Chemicals 3.16% Power 3.01% 3.15% Plan B (Direct) 2.11% Growth 8.69 Dividend 8.69 Growth 9.10 Fund Manager Dividend 9.10 Mr. Sanjay Chawla (Experience 29 Years) Mr. Dipak Acharya (Experience 13 Years) Capital appreciation over long term. Investment predominantly in equity and equity related securities of growth oriented Mid-Cap stocks. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 ^ For Disclaimer please refer page no 21 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 6
Baroda Pioneer Large Cap Fund Large Cap Fund An open-ended equity scheme pre-dominantly investing in large cap stocks. The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of large cap companies. The Scheme may also invest in debt and money market securities. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized. June 22, 2010 Nifty 100^ 5,000/- & in multiples of 1/- thereafter Exit Load: 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units. B. Dividend Option ; 2. Reinvestment (default sub-option in case C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 29.95 Crs AUM 29.37 Crs EQUITY & EQUITY RELATED Infosys Ltd. Software 7.46% Reliance Ltd. Petroleum Products 6.85% HDFC Bank Ltd. Banks 6.15% Larsen & Toubro Ltd. Construction Project 5.85% Hindustan Unilever Ltd. Housing Development Finance 5.48% Finance 5.38% ICICI Bank Ltd. Banks 5.20% ITC Ltd. 4.36% Axis Bank Ltd. Banks 3.76% Sun Pharmaceutical Ltd. Pharmaceuticals 3.18% State Bank of India Banks 3.16% Tata Consultancy Services Ltd. Software 2.97% Coal India Ltd. Minerals/Mining 2.72% GAIL (India) Ltd. Gas 2.58% Tech Mahindra Ltd. Software 2.44% Shriram Transport Finance Company Ltd. Finance 2.35% Maruti Suzuki India Ltd. Auto 2.25% Asian Paints Ltd. Mahindra & Mahindra Financial Services Ltd. 2.20% Finance 2.04% IndusInd Bank Ltd. Banks 1.73% ABB India Ltd. Industrial Capital Goods 1.68% Top 10 Sectors Zee Entertainment Enterprises Ltd. Media & Entertainment 1.64% Cummins India Ltd. Industrial Products 1.60% Titan Company Ltd. Consumer 1.37% Abbott India Ltd. Pharmaceuticals 1.32% Larsen & Toubro Infotech Ltd. Software 1.31% Tata Motors Ltd. Auto 1.14% Marico Ltd. 1.13% Bajaj Finance Ltd. Finance 1.11% Godrej Consumer Products Ltd. 1.05% Mahindra & Mahindra Ltd. Auto 1.03% Punjab National Bank Banks 0.81% Yes Bank Ltd. Banks 0.81% Bharti Airtel Ltd. Telecom - Services 0.75% Total 94.86% Margin Fixed Deposits HDFC Bank Ltd. Unrated 0.37% Total 0.37% CBLO / Reverse Repo Investments 7.46% Total 7.46% Net Receivable/Payable -2.69% Total -2.69% Risk Profile 28 September 2018 Standard deviation 13.31% Sharpe@ 0.09 Beta 0.73 Turnover (last 12 months) 1.11 BANK Banks 21.62% Consumer Non 14.22% Software 14.18% Finance 10.88% Petroleum Products 6.85% Construction Project 5.85% Pharmaceuticals 4.50% Auto 4.42% Minerals/ Mining 2.72% Gas 2.58% @risk free rate (FBIL Overnight MIBOR) 6.60% 2.94% Growth 13.59 Dividend 11.72 Plan B (Direct) 2.19% Growth 14.14 Fund Manager Dividend 12.25 Mr. Sanjay Chawla (Experience 29 Years) Mr. Dipak Acharya (Experience 13 Years) Capital appreciation over long term. Investment predominantly in a diversified portfolio of equity and equity related securities of Large Cap companies. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 ^ For Disclaimer please refer page no 21 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 7
Baroda Pioneer Banking and Financial Services Fund An open ended equity scheme investing in the Banking and Financial Services sector. The investment objective is to generate long-term capital appreciation for unit holders from a portfolio invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector. June 22, 2012 Nifty Bank Index^ 5,000/- & in multiples of 1/- thereafter Exit Load: 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units B. Dividend Option ; 2. Reinvestment (default sub-option in case C. Bonus Option EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 22.19% ICICI Bank Ltd. Banks 15.63% Axis Bank Ltd. Banks 11.19% Kotak Mahindra Bank Ltd. Banks 8.68% State Bank of India Banks 8.44% Bharat Financial Inclusion Ltd. Finance 7.18% RBL Bank Ltd. Banks 3.54% Mahindra & Mahindra Financial Services Ltd. Finance 3.32% City Union Bank Ltd. Banks 2.70% Yes Bank Ltd. Banks 1.52% Housing Development Finance Shriram Transport Finance Company Ltd. Finance 1.46% Finance 1.27% Indian Bank Banks 0.94% Top Sectors Bajaj Finance Ltd. Finance 0.90% Karur Vysya Bank Ltd. Banks 0.83% Punjab National Bank Banks 0.83% Bank of India Banks 0.53% Union Bank of India Banks 0.45% Total 91.60% Margin Fixed Deposits HDFC Bank Ltd. Unrated 0.41% Total 0.41% CBLO / Reverse Repo Investments 6.01% Total 6.01% Net Receivable/Payable 1.98% Total 1.98% 500/month - 12 Installments 1500/quarter - 4 Installments BANK Banks 77.47% Finance 14.13% Unrated 0.41% Cash & Equivalent 7.99% AAUM 38.66 Crs AUM 36.17 Crs Risk Profile 28 September 2018 Standard deviation 15.51% Sharpe@ 0.18 Beta 0.93 Turnover (last 12 months) 0.60 @risk free rate (FBIL Overnight MIBOR) 6.60% Growth 19.68 Bonus 19.68 Dividend 15.00 Growth 20.59 Dividend 15.82 2.90% Plan B (Direct) 2.13% Fund Manager Mr. Dipak Acharya (Experience 13 Years) Capital appreciation over long term. Investment predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector. * Investors should consult their financial advisers if in doubt The Bonus Option in the Schemes has been discontinued effective June 08, 2015 ^ For Disclaimer please refer page no 21 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 8
Baroda Pioneer Hybrid Equity Fund 2 An open ended hybrid scheme investing predominantly in equity and equity related instruments. 2 Formerly known as Baroda Pioneer Balance Fund The scheme is targeted for long-term capital appreciation along with stability through a well balanced portfolio comprising of equity, equity related instruments, money market instrument and debt securities. September 12, 2003 CRISIL Hybrid 35+65 Aggressive Index (effective February 1, 2018) 5,000/- & in multiples of 1/- thereafter Exit Load: 1% if redeemed on or before 12 months from the date of allotment of units, Nil if redeemed after 12 months from the date of allotment of units B. Dividend Option ; 2. Reinvestment (default sub-option in case C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 728.45 Crs AUM 705.03 Crs Risk Profile 28 September 2018 Standard deviation 9.94% Sharpe@ 0.16 Beta 1.15 Turnover (last 12 months) 2.68% Plan B (Direct) 1.36% Fund Manager 1.13 @risk free rate (FBIL Overnight MIBOR) 6.60% % to Net EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 5.12% Infosys Ltd. Software 4.14% Axis Bank Ltd. Banks 3.26% ICICI Bank Ltd. Banks 2.93% Divi's Laboratories Ltd. Pharmaceuticals 2.79% Sun Pharmaceutical Ltd. Pharmaceuticals 2.74% Mphasis Ltd. Software 2.66% ITC Ltd. 2.53% Dabur India Ltd. 2.42% Tech Mahindra Ltd. Software 2.33% Kansai Nerolac Paints Ltd. 2.28% Shriram Transport Finance Company Ltd. Finance 2.20% Tata Consultancy Services Ltd. Software 2.17% Mahindra & Mahindra Financial Services Ltd. Finance 1.99% Maruti Suzuki India Ltd. Auto 1.98% WABCO India Ltd. Auto Ancillaries 1.95% Coal India Ltd. Minerals/Mining 1.81% Bharat Financial Inclusion Ltd. Finance 1.77% Housing Development Finance Finance 1.74% Reliance Ltd. Petroleum Products 1.61% GlaxoSmithKline Consumer Healthcare Ltd. 1.54% Emami Ltd. 1.39% City Union Bank Ltd. Banks 1.38% Larsen & Toubro Ltd. Construction Project 1.37% State Bank of India Banks 1.22% Whirlpool of India Ltd. Consumer 1.15% Larsen & Toubro Infotech Ltd. Software 1.09% Solar India Ltd. Chemicals 1.05% Cummins India Ltd. Industrial Products 1.05% KEC International Ltd. Construction Project 1.03% Bharat Forge Ltd. Industrial Products 1.02% Security and Intelligence Services (I) Ltd. Commercial Services 0.88% Yes Bank Ltd. Banks 0.86% Marico Ltd. 0.83% Supreme Ltd. Industrial Products 0.76% RBL Bank Ltd. Banks 0.73% Tata Motors Ltd. Auto 0.63% BANK Banks 15.50% Software 12.39% Consumer Non 10.99% Finance 7.70% Top 10 Sectors Pharmaceuticals 5.53% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Growth 53.74 Dividend 16.28 Growth 57.48 Dividend 18.16 % to Net Container Corporation of India Ltd. Transportation 0.62% Bharti Airtel Ltd. Telecom - Services 0.55% Simplex Infrastructures Ltd. Construction 0.50% Total 70.07% Margin Fixed Deposits HDFC Bank Ltd. Unrated 0.33% Total 0.33% CENTRAL GOVERNMENT SECURITIES 8.24% CGL 2027 Sovereign 0.19% 7.88% CGL 2030 Sovereign 0.10% 7.17% CGL 2028 Sovereign 0.06% 8.28% CGL 2027 Sovereign 0.01% Total 0.36% STATE GOVERNMENT SECURITIES 09.72% SDL 2023 Sovereign 0.44% Total 0.44% HDFC Bank Ltd. CRISIL AA+ 3.49% ICICI Bank Ltd. [ICRA]AA+ 3.44% PNB Housing Finance Ltd. IND AAA 2.92% Muthoot Finance Ltd. CRISIL AA 2.72% Dewan Housing Finance BWR AAA 2.25% Bank of Baroda CRISIL AA+ 1.92% Indian Railway Finance CRISIL AAA 1.58% Reliance Ltd. CRISIL AAA 0.27% IndusInd Bank Ltd. CRISIL AA 0.14% Total 18.73% Unlisted IIFL Wealth Finance Ltd. [ICRA]AA 1.54% Total 1.54% CBLO / Reverse Repo Investments 8.01% Total 8.01% Net Receivable/Payable 0.52% Total 0.52% CRISIL AA+ 5.41% [ICRA] AA+ 3.44% IND AAA 2.92% CRISIL AA 2.86% Industrial Products 2.83% Mr. Sanjay Chawla & (Experience 29 Years) Mr. Dipak Acharya (Experience 13 Years) & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015 Capital appreciation along with stability over long term. Investment predominantly in equity and equity related instruments with balance exposure to money market instruments and debt securities. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 9
Baroda Pioneer Conservative Hybrid Fund 3 An open ended hybrid scheme investing pre-dominantly in debt instruments. 3 Formerly known as Baroda Pioneer Monthly Income Plan (MIP) Fund (Monthly income is not assured and is subject to the availability of distributable surplus) To generate regular income through investment in debt and money market instruments and also to generate long term capital appreciation by investing a portion in equity and equity related instruments. September 08, 2004 CRISIL Hybrid 85+15 - Conservative Index (effective February 1, 2018) 5,000/- & in multiples of 1/- thereafter Exit Load: NIL B. Monthly Dividend (default) 2. Re-investment (default sub-option in case C. Quarterly Dividend 2. Reinvestment (default sub-option in case D. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 21.69 Crs AUM 20.98 Crs Characteristic Average Maturity (Days) 3435 Modified Duration (Years) 6.26 Yield (%) 7.54 EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 1.91% Housing Development Finance Finance 1.25% Divi's Laboratories Ltd. Pharmaceuticals 1.25% Mahindra & Mahindra Financial Services Ltd. Finance 1.24% Infosys Ltd. Software 1.04% Sun Pharmaceutical Ltd. Pharmaceuticals 1.04% ICICI Bank Ltd. Banks 1.02% Dabur India Ltd. 1.02% Larsen & Toubro Infotech Ltd. Software 1.00% ITC Ltd. 0.99% Axis Bank Ltd. Banks 0.88% Kansai Nerolac Paints Ltd. 0.88% Shriram Transport Finance Company Ltd. Finance 0.82% RBL Bank Ltd. Banks 0.49% Bosch Ltd. Auto Ancillaries 0.47% Marico Ltd. 0.40% Titan Company Ltd. Consumer 0.38% Maruti Suzuki India Ltd. Auto 0.35% Abbott India Ltd. Pharmaceuticals 0.28% Total 16.71% 16.71% Instruments 2.86%-1.27% Central Government 9.22% Securities 72.48% EQUITY & EQUITY RELATED CBLO / Reverse Repo Investments Cash & Cash Equivalents CENTRAL GOVERNMENT SECURITIES 6.68% CGL 2031 Sovereign 31.68% 7.17% CGL 2028 Sovereign 31.51% 7.59% CGL 2026 Sovereign 4.62% 8.24% CGL 2027 Sovereign 2.39% 7.59% CGL 2029 Sovereign 2.28% Total 72.48% Power Finance CRISIL AAA 2.39% IndusInd Bank Ltd. CRISIL AA 0.47% Total 2.86% CBLO / Reverse Repo Investments 9.22% Total 9.22% Net Receivable/Payable -1.27% Total -1.27% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. Sovereign Banks Finance Pharmaceuticals CRISIL AAA Software CRISIL AA Auto Ancillaries Consumer Auto Cash & Equivalent Ratings 4.30% 3.31% 3.29% 2.57% 2.39% 2.04% 0.47% 0.47% 0.38% 0.35% 7.95% 72.48% 2.10% Plan B (Direct) 1.34% Fund Manager Ms. Hetal Shah (Experience 15 Years) Regular Income and capital appreciation over medium term with providing liquidity. Investment in debt and money market instruments and in equity and equity related instruments. * Investors should consult their financial advisers if in doubt Growth 22.0568 Dividend - Monthly 12.9064 Dividend - Quarterly 12.5180 Growth 23.1680 Dividend - Monthly 13.3747 Dividend - Quarterly NA The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 10
Baroda Pioneer Credit Risk Fund 4 An open ended debt scheme predominantly investing in AA and below rated corporate bonds. (Excluding AA+ rated corporate bonds) 4 Formerly known as Baroda Pioneer Credit Opportunities Fund The primary objective of the Scheme is to generate returns by investing in debt and money market instruments across the credit spectrum. There is no assurance or guarantee that the investment objective of the Scheme will be realized. January 23, 2015 CRISIL Short Term Bond Fund Index 5,000/- & in multiples of 1/- thereafter Exit Load: If units are redeemed upto 10% of the units, on or before one year from the date of allotment : Nil If units are redeemed over and above the 10% limit, on or before one year from the date of allotment : 1% of the applicable Net Asset Value (NAV) If units are redeemed after one year from the date of allotment: Nil B. Monthly Dividend 2. Re-investment (default sub-option in case C. Quarterly Dividend 2. Reinvestment (default sub-option in case D. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 968.70 Crs AUM 966.71 Crs Characteristic Average Maturity (Days) 700 Modified Duration (Years) 1.48 Yield (%) 10.03 24.56% 2.36% 2.04% 0.33% 2.56% 7.18% Instruments 60.97% Unlisted Commercial Paper Central Government Securities CBLO / Reverse Repo Investments Cash & Cash Equivalents State Government Securities MONEY MARKET INSTRUMENT Commercial Paper** Simplex Infrastructures Ltd. CARE A1 5.13% Muthoot Fincorp Ltd. CRISIL A1 2.05% Total 7.18% CENTRAL GOVERNMENT SECURITIES 7.17% CGL 2028 Sovereign 2.05% 6.68% CGL 2031 Sovereign 0.51% Total 2.56% STATE GOVERNMENT SECURITIES 08.11% SDL 2028 Sovereign 0.33% Total 0.33% Piramal Enterprises Ltd. [ICRA]AA 10.25% Apollo Hospitals Enterprise Ltd. CRISIL AA 9.55% Edelweiss Commodities Services Ltd. [ICRA]AA 5.63% Aspire Home Finance [ICRA]A+ 5.14% IndusInd Bank Ltd. CRISIL AA 4.71% Dewan Housing Finance BWR AAA 3.79% IIFL Home Finance Ltd. CRISIL AA 3.59% Edelweiss Commodities Services Ltd. CARE AA 2.78% Edelweiss Housing Finance Ltd. [ICRA]AA 2.55% ICICI Bank Ltd. [ICRA]AA+ 2.51% Yes Bank Ltd. [ICRA]AA 2.44% Indiabulls Housing Finance Ltd. BWR AAA 2.02% Indiabulls Housing Finance Ltd. CARE AAA 1.54% Edelweiss Asset [ICRA]AA (SO) Reconstruction Company Ltd. 1.13% [ICRA]AA CRISIL AA BWR A1+ (SO) BWR AAA BWR A+ (SO) [ICRA]A+ CARE A1 Sovereign CARE AA [ICRA]AA+ CRISIL A1 [ICRA]BBB CARE AAA [ICRA]AA (SO) CRISIL AAA CRISIL AA+ CRISIL AAA (SO) CARE AA- [ICRA]AA- Cash & Equivalent Indian Railway Finance CRISIL AAA 1.11% Bank of Baroda CRISIL AA+ 1.10% JSW Steel Ltd. CARE AA- 0.52% Vijaya Bank [ICRA]AA- 0.51% Bank of Baroda CARE AA 0.10% Total 60.97% Unlisted ARM Infra & Utilities Private Ltd. BWR A1+ (SO) 9.47% Tanglin Developments Ltd. BWR A+ (SO) 5.16% IIFL Wealth Finance Ltd. [ICRA]AA 4.50% Cyquator Media Services Private Ltd. BWR A1+ (SO) 2.58% Jana Small Finance Bank Ltd [ICRA]BBB 1.82% Powergrid Vizag Transmission Ltd. CRISIL AAA (SO) 1.03% Total 24.56% CBLO / Reverse Repo Investments 2.36% Total 2.36% Net Receivable/Payable 2.04% Total 2.04% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Ratings 25.37% 17.85% 12.05% 5.81% 5.16% 5.14% 5.13% 2.89% 2.88% 2.51% 2.05% 1.82% 1.54% 1.13% 1.11% 1.10% 1.03% 0.52% 0.51% 4.40% 1.82% Plan B (Direct) 0.80% Fund Manager Mr. Alok Sahoo (Experience 17 Years) Mr. Karn Kumar & (Experience 13 Years) & Mr. Karn Kumar is managing the Scheme along with Mr. Alok Sahoo effective July 24, 2017 Income over medium term. Investment in a mix of debt and money market instruments across the credit and maturity spectrum. Growth 13.7066 Dividend - Monthly 10.5525 Dividend - Quarterly 10.4233 Growth 14.3001 Dividend - Monthly 11.1070 Dividend - Quarterly 10.9187 The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 11
Baroda Pioneer Gilt Fund An open ended debt scheme investing in government securities across maturity. To generate income by investing in a portfolio of Government securities. March 21, 2002 I SEC-MI BEX 5,000/- & in multiples of 1/- thereafter Exit Load: 0.25% if redeemed on or before 1 month (30 days) from the date of allotment of units. Nil if redeemed after 1 month (30 days) from the date of allotment of units. CENTRAL GOVERNMENT SECURITIES 7.17% CGL 2028 Sovereign 23.35% 6.68% CGL 2031 Sovereign 23.16% 8.24% CGL 2027 Sovereign 11.34% 7.59% CGL 2029 Sovereign 9.45% 8.28% CGL 2027 Sovereign 8.53% 6.79% CGL 2027 Sovereign 3.25% 7.59% CGL 2026 Sovereign 1.71% 7.88% CGL 2030 Sovereign 0.20% Total 80.99% STATE GOVERNMENT SECURITIES 09.39% SDL 2023 Sovereign 9.10% Total 9.10% CBLO / Reverse Repo Investments 9.03% Total 9.03% Net Receivable/Payable 0.88% Total 0.88% B. Dividend 2. Re-investment (default sub-option in case C. Bonus Option 9.10% 9.03% Instruments 0.88% Central Government Securities State Government Securities CBLO / Reverse Repo Investments Sovereign Ratings 90.09% 80.99% Cash & Cash Equivalents 500/month - 12 Installments 1500/quarter - 4 Installments Cash & Equivalent 9.91% AAUM 28.22 Crs AUM 28.32 Crs Characteristic Average Maturity (Days) 3200 Modified Duration (Years) 5.92 Yield (%) 7.69 Growth 26.5218 Dividend 18.8073 Plan B- Direct Growth 27.9330 Dividend 24.1823 1.93% Plan B (Direct) 1.07% Fund Manager Ms. Hetal Shah (Experience 15 Years) Credit risk free regular Income over long term. Investment only in Government (both Central and State Government) Securities. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 12
Baroda Pioneer Income Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years (please refer to pg 32 of SID). To generate regular income by investing in a portfolio of good quality Fixed Income Securities by maintaining a balance between Risk & Return. March 21, 2002 CRISIL Composite Bond Fund Index 5,000/- & in multiples of 1/- thereafter Exit Load: If units are redeemed upto 10% of the units, on or before one year from the date of allotment: Nil If units are redeemed over and above the 10% limit, on or before one year from the date of allotment : 1% of the applicable Net Asset Value (NAV) If units are redeemed after one year from the date of allotment: Nil B. Dividend 2. Re-investment (default sub-option in case C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 16.84 Crs AUM 16.79 Crs Instruments 2.00% 1.65% 44.09% Central Government 12.32% Securities 39.94% CENTRAL GOVERNMENT SECURITIES State Government Securities Cash & Cash Equivalents 6.68% CGL 2031 Sovereign 15.84% 7.59% CGL 2026 Sovereign 14.45% 6.79% CGL 2027 Sovereign 10.95% 7.59% CGL 2029 Sovereign 2.85% Total 44.09% STATE GOVERNMENT SECURITIES 09.35% SDL 2024 Sovereign 4.64% 08.58% SDL 2023 Sovereign 4.22% 09.39% SDL 2023 Sovereign 2.66% 08.60% SDL 2023 Sovereign 0.80% Total 12.32% CBLO / Reverse Repo Investments Edelweiss Commodities Services Ltd. Indian Railway Finance Dewan Housing Finance All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. Ratings [ICRA]AA 11.59% CRISIL AAA 10.10% BWR AAA 10.09% IndusInd Bank Ltd. CRISIL AA 8.16% Total 39.94% CBLO / Reverse Repo Investments 1.65% Total 1.65% Net Receivable/Payable 2.00% Total 2.00% Sovereign [ICRA]AA CRISIL AAA BWR AAA CRISIL AA 11.59% 10.10% 10.09% 8.16% 56.41% Characteristic Average Maturity (Days) 2478 Modified Duration (Years) 4.74 Yield (%) 8.90 Macaulay duration (Years) 5.14 2.48% Plan B (Direct) 1.87% Cash & Equivalent 3.65% Growth 26.0306 Dividend 21.2067 Growth 27.2265 Dividend 21.6084 Fund Manager Ms. Hetal Shah (Experience 15 Years) Mr. Karn Kumar @ (Experience 13 Years) @ Mr. Karn Kumar is managing the Scheme along with Ms. Hetal Shah effective Jan 6, 2018 Regular Income over long term. Investment predominantly in good quality Fixed Income Securities by maintaining a balance between Risk & Return. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 13
Baroda Pioneer Dynamic Bond Fund An open-ended dynamic debt scheme investing across duration. The investment objective of the scheme is to generate returns with liquidity by managing the portfolio dynamically through interest rate cycles. June 30, 2012 CRISIL Composite Bond Fund Index 5,000/- & in multiples of 1/- thereafter Exit Load: 0.50% if redeemed within 3 months from the date of allotment of units, Nil if redeemed after 3 months from the date of allotment of units. B. Dividend 2. Re-investment (default sub-option in case C. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 18.12 Crs AUM 17.53 Crs Instruments 4.74% 0.02% 49.89% Central Government 11.88% Securities 33.47% CENTRAL GOVERNMENT SECURITIES State Government Securities CBLO / Reverse Repo Investments Cash & Cash Equivalents 8.28% CGL 2027 Sovereign 14.36% 6.79% CGL 2027 Sovereign 10.49% 6.68% CGL 2031 Sovereign 7.58% 7.59% CGL 2029 Sovereign 6.54% 7.59% CGL 2026 Sovereign 5.53% 7.17% CGL 2028 Sovereign 5.39% Total 49.89% STATE GOVERNMENT SECURITIES 09.72% SDL 2023 Sovereign 11.88% Total 11.88% Edelweiss Asset Reconstruction Company Ltd. [ICRA]AA (SO) 11.37% Aspire Home Finance Dewan Housing Finance All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. Ratings [ICRA]A+ 11.36% BWR AAA 10.74% Total 33.47% CBLO / Reverse Repo Investments 4.74% Total 4.74% Net Receivable/Payable 0.02% Total 0.02% Sovereign [ICRA]AA (SO) [ICRA]A+ BWR AAA 11.37% 11.36% 10.74% 61.77% Characteristic Average Maturity (Days) 2236 Modified Duration (Years) 4.32 Yield (%) 8.91 1.62% Plan B (Direct) 1.09% Fund Manager Mr. Alok Sahoo (Experience 17 Years) Ms. Hetal Shah (Experience 15 Years) Regular Income over medium term with providing liquidity. Investment in medium to long term corporate bonds and / or government securities and manage the portfolio dynamically through different interest rate cycles. Cash & Equivalent 4.76% Growth 16.4580 Dividend 12.5536 Growth 17.2166 Dividend 13.2680 The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 14
Baroda Pioneer Short Term Bond Fund An open-ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years (please refer to pg 31 of SID). The objective of the Scheme is to generate income from a portfolio constituted of short term debt and money market securities. June 30, 2010 CRISIL Short Term Bond Fund Index 5,000/- & in multiples of 1/- thereafter Exit Load: 0.25% if redeemed on or before 15 days from the date of allotment of units. Nil if redeemed after 15 days from the date of allotment of units. B. Monthly Dividend^ 2. Re-investment (default sub-option in case C. Quarterly Dividend^ 2. Re-investment (default sub-option in case 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 220.84 Crs AUM 222.07 Crs Characteristic Average Maturity (Days) 382 Modified Duration (Years) 0.89 Yield (%) 9.25 Macaulay duration (Years) 0.97 1.30% Plan B (Direct) 0.57% Fund Manager 28.95% Instruments 4.19% 2.13% 1.07% Unlisted 9.44% CBLO / Reverse Repo Investments 54.22% Certificate of Deposits Central Government Securities Cash & Cash Equivalents Manappuram Finance Ltd. CRISIL AA- 12.65% Reliance Ltd. CRISIL AAA 9.99% Edelweiss Commodities Services Ltd. [ICRA]AA 6.57% PNB Housing Finance Ltd. IND AAA 6.19% Edelweiss Asset Reconstruction Company Ltd. Indiabulls Housing Finance Ltd. [ICRA]AA (SO) 4.49% CARE AAA 4.47% India Infoline Finance Ltd. [ICRA]AA 2.74% Piramal Enterprises Ltd. [ICRA]AA 2.23% L&T Finance Ltd. [ICRA]AAA 2.20% Edelweiss Commodities Services Ltd. Aspire Home Finance CARE AA 1.79% [ICRA]A+ 0.90% Total 54.22% Unlisted IIFL Wealth Finance Ltd. [ICRA]AA 12.25% ARM Infra & Utilities Private Ltd. Cyquator Media Services Private Ltd. BWR A1+ (SO) 6.87% BWR A1+ (SO) 6.75% Jana Small Finance Bank Ltd [ICRA]BBB 3.08% Total 28.95% Certificate of Deposits Utkarsh Small Finance Bank Ltd. Ratings Growth 18.9460 Dividend 10.0312 All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Growth 19.6315 Dividend 10.0077 [ICRA]A1 4.19% Total 4.19% CENTRAL GOVERNMENT SECURITIES 7.17% CGL 2028 Sovereign 2.13% Total 2.13% CBLO / Reverse Repo Investments 9.44% Total 9.44% Net Receivable/Payable 1.07% Total 1.07% [ICRA]AA BWR A1+ (SO) CRISIL AA- CRISIL AAA IND AAA [ICRA]AA (SO) CARE AAA [ICRA]A1 [ICRA]BBB [ICRA]AAA Sovereign CARE AA [ICRA]A+ Cash & Equivalent 4.49% 4.47% 4.19% 3.08% 2.20% 2.13% 1.79% 0.90% 6.19% 13.62% 12.65% 9.99% 10.51% 23.79% Mr. Alok Sahoo (Experience 17 Years) Ms. Hetal Shah (Experience 15 Years) Regular Income over short term. Investment predominantly in Money Market Instruments (i.e. CP/ CD) and Short Term Debt Market Instruments. ^ The Dividend Option has been renamed as Monthly Dividend Option and a Quarterly Dividend Option has been introduced effective December 23, 2016. Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. 15
Baroda Pioneer Treasury Advantage Fund An open-ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months (please refer to pg 32 of SID). The main objective of the scheme is to provide optimal returns and liquidity through a portfolio comprising of debt securities and money market instruments. June 24, 2009 CRISIL Liquid Fund Index 5,000/- & in multiples of 1/- thereafter Exit Load: NIL B. Daily Dividend 1. Re-investment C. Weekly Dividend 1. Re-investment C. Monthly Dividend 2. Re-investment (default sub option in case D. Quarterly Dividend 2. Re-investment (default sub option in case E. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 1,628.52 Crs AUM 1,542.35 Crs Characteristic Average Maturity (Days) 312 Modified Duration (Years) 0.72 Yield (%) 8.71 Macaulay duration (Months) 9.60 0.81% Plan B (Direct) 0.52% Fund Manager Mr. Alok Sahoo (Experience 17 Years) Ms. Hetal Shah (Experience 15 Years) MONEY MARKET INSTRUMENT Certificate of Deposit** Axis Bank Ltd. CRISIL A1+ 7.86% IndusInd Bank Ltd. CRISIL A1+ 6.28% HDFC Bank Ltd. IND A1+ 4.70% Utkarsh Small Finance Bank Ltd. [ICRA]A1 1.81% Export-Import Bank of India CRISIL A1+ 1.57% Total 22.22% Commercial Paper** Reliance Ltd. CRISIL A1+ 7.85% Edelweiss Housing Finance Ltd. [ICRA]A1+ 4.78% Shapoorji Pallonji and Company Private Ltd. [ICRA]A1+ 3.19% Edelweiss Commodities Services Ltd. CRISIL A1+ 3.18% Muthoot Fincorp Ltd. CRISIL A1 2.89% Total 21.89% Indiabulls Housing Finance Ltd. CARE AAA 8.37% Dewan Housing Finance BWR AAA 7.87% Piramal Enterprises Ltd. [ICRA]AA 6.10% Manappuram Finance Ltd. CRISIL AA- 3.06% Yes Bank Ltd. [ICRA]AA 3.03% Aspire Home Finance [ICRA]A+ 2.97% Edelweiss Commodities Services Ltd. CARE AA 2.84% IndusInd Bank Ltd. CRISIL AA 1.65% Power Finance CRISIL AAA 1.59% Bank of Baroda CARE AA 1.55% 21.89% 22.22% Instruments 6.51% 1.16% 41.65% 6.57% Certificate of Deposits Commercial Paper Unlisted CBLO / Reverse Repo Investments Cash & Cash Equivalents Regular income over short term with maintaining a balance between returns and liquidity. Investment predominantly in Money Market (i.e. CP/CDs) and Debt Market Instruments. Muthoot Finance Ltd. CRISIL AA 0.93% India Infoline Finance Ltd. [ICRA]AA 0.59% Apollo Hospitals Enterprise Ltd. CRISIL AA 0.52% Indiabulls Housing Finance Ltd. BWR AAA 0.32% Edelweiss Asset Reconstruction Company [ICRA]AA (SO) 0.13% Edelweiss Commodities Services Ltd. [ICRA]AA 0.13% Total 41.65% Unlisted ARM Infra & Utilities Private Ltd. BWR A1+ (SO) 4.95% Cyquator Media Services Private Ltd. BWR A1+ (SO) 1.62% Total 6.57% CBLO / Reverse Repo Investments 6.51% Total 6.51% Net Receivable/Payable 1.16% Total 1.16% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Ratings Regular Growth 2038.4510 Dividend - Daily 1006.2270 Dividend - Weekly 1001.8272 Dividend - Monthly 1000.8079 Bonus 2075.1111 Growth 2090.2463 Dividend - Daily 1030.3371 Dividend - Weekly 1001.7090 Dividend - Monthly 1000.8079 Dividend - Quarterly 1025.9441 Growth 2128.9030 Dividend - Daily 1008.6210 Dividend - Weekly 1001.9636 Dividend - Monthly 1000.8290 Dividend - Quarterly 1036.2273 The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Treasury Advantage Fund (earlier called Institutional Plan) *For Disclaimer please refer page no 21 Pursuant to the SEBI circulars issued by SEBI on Categorisation and Rationalisation of mutual fund schemes, there has been change in the fundamental attributes of the scheme effective June 6, 2018. Ltd. CRISIL A1+ [ICRA]AA CARE AAA BWR AAA [ICRA]A1+ BWR A1+ (SO) IND A1+ CARE AA CRISIL AA CRISIL AA- [ICRA]A+ CRISIL A1 [ICRA]A1 CRISIL AAA [ICRA]AA (SO) Cash & Equivalent 9.85% 8.37% 8.19% 7.97% 6.57% 4.70% 4.39% 3.10% 3.06% 2.97% 2.89% 1.81% 1.59% 0.13% 7.67% 26.74% 16
Baroda Pioneer Ultra Short Duration Fund (An open ended ultra short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months) (please refer to pg 37 of SID) The primary objective of the Scheme is to generate regular income by investing in a portfolio of debt and money market instruments such that the Macaulay duration of the portfolio is between 3 months 6 months (please refer to page no.37 of SID). However, there can be no assurance that the investment objective of the Scheme will be realized. June 1, 2018 CRISIL Ultra Short Fund Index* 5,000/- & in multiples of 1/- thereafter Entry Load: Not Applicable Exit Load: NIL B. Daily Dividend 1. Re-investment C. Weekly Dividend 1. Re-investment MONEY MARKET INSTRUMENT Certificate of Deposit** Export-Import Bank of India CRISIL A1+ 12.10% Utkarsh Small Finance Bank Ltd. [ICRA]A1 4.67% Total 16.77% Commercial Paper** Housing Development Finance CRISIL A1+ 12.14% Reliance Ltd. CRISIL A1+ 12.14% Shapoorji Pallonji and Company Private Ltd. [ICRA]A1+ 9.87% Muthoot Fincorp Ltd. CRISIL A1 7.46% Edelweiss Commodities Services Ltd. CRISIL A1+ 7.39% Simplex Infrastructures Ltd. CARE A1 4.97% Total 53.97% Indiabulls Housing Finance Ltd. CARE AAA 12.44% Total 12.44% Unlisted ARM Infra & Utilities Private Ltd. Cyquator Media Services Private Ltd. BWR A1+ (SO) 10.20% BWR A1+ (SO) 5.01% Total 15.21% CBLO / Reverse Repo Investments 0.93% Total 0.93% Net Receivable/Payable 0.68% Total 0.68% All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Instruments Ratings 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 328.88 Crs AUM 199.45 Crs Characteristic 15.21% 0.93% 0.68% Commercial Paper 12.44% Certificate of Deposits 16.77% 53.97% Unlisted CBLO / Reverse Repo Investments Cash & Cash Equivalents CRISIL A1+ BWR A1+ (SO) CARE AAA [ICRA]A1+ CRISIL A1 15.21% 12.44% 9.87% 7.46% 43.77% Average Maturity (Days) 155 Modified Duration (Years) 0.39 CARE A1 4.97% Yield (%) 8.81 Macaulay duration (Months) 5.04 [ICRA]A1 4.67% Cash & Equivalent 1.61% 0.54% Plan B (Direct) 0.24% Fund Manager Mr. Alok Sahoo (Experience 17 Years) Ms. Hetal Shah (Experience 15 Years) Reasonable returns with convenience of liquidity over ultra-short Term. Investments in a basket of debt and money market in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months. *For Disclaimer please refer page no 21 Growth 1026.5119 Dividend - Daily 1003.2822 Dividend - Weekly 1002.0222 Growth 1027.0388 Dividend - Daily 1003.0662 Dividend - Weekly 1002.1028 17
Baroda Pioneer Liquid Fund An open ended liquid scheme To generate income with a high level of liquidity by investing in a portfolio of money market and debt securities. February 5, 2009 CRISIL Liquid Fund Index 5,000/- & in multiples of 1/- thereafter Exit Load: NIL B. Daily Dividend 1. Re-investment C. Weekly Dividend 1. Re-investment D. Bonus Option 500/month - 12 Installments 1500/quarter - 4 Installments AAUM 7,390.20 Crs AUM 4,798.52 Crs Characteristic Average Maturity (Days) 45 Modified Duration (Years) 0.11 Yield (%) 7.44 0.17% Plan B (Direct) 0.07% Fund Manager Mr. Alok Sahoo (Experience 17 Years) Ms. Hetal Shah (Experience 15 Years) MONEY MARKET INSTRUMENT Certificate of Deposit** 15.59% Instruments 4.62% -3.96% Commercial Paper 6.18% CBLO / Reverse Repo Investments 12.50% Fixed Deposits 65.07% Regular income over short term with maintaining a balance between returns and liquidity. Investment predominantly in Money Market (i.e. CP/CDs) and Debt Market Instruments. The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Liquid Fund (earlier called Institutional Plan) *For Disclaimer please refer page no 21 Certificate of Deposits Treasury Bills Cash & Cash Equivalents Axis Bank Ltd. CRISIL A1+ 5.67% IndusInd Bank Ltd. CRISIL A1+ 0.51% Total 6.18% Commercial Paper** SREI Equipment Finance Ltd. [ICRA]A1+ 6.31% IIFL Facilities Services Ltd. [ICRA]A1+ 5.15% Reliance Ltd. CRISIL A1+ 5.10% Piramal Enterprises Ltd. [ICRA]A1+ 4.12% Nabha Power Ltd. CRISIL A1+ 4.12% Housing Development Finance CRISIL A1+ 4.11% PNB Housing Finance Ltd. CRISIL A1+ 4.11% Gruh Finance Ltd. CRISIL A1+ 4.11% Capital First Ltd. [ICRA]A1+ 4.11% Shapoorji Pallonji and Company Private Ltd. [ICRA]A1+ 3.69% Edelweiss Commodities Services Ltd. CRISIL A1+ 3.29% Aspire Home Finance CRISIL A1+ 3.12% Aditya Birla Housing Finance Ltd. [ICRA]A1+ 3.09% S D Corporation Pvt. Ltd. [ICRA]A1+ 2.18% Muthoot Fincorp Ltd. CRISIL A1 2.07% IIFL Home Finance Ltd. CRISIL A1+ 2.06% Reliance Jio Infocomm Ltd. CRISIL A1+ 1.54% Godrej Properties Ltd. CRISIL A1+ 1.04% Simplex Infrastructures Ltd. CARE A1 0.72% Regular Ratings Growth 3032.1256 Dividend 2597.7931 Dividend - Daily 1006.0602 Growth 2060.5736 Dividend - Daily 1001.1996 Dividend - Weekly 1000.7783 All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR. **Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. NAV as on 30 September 2018 Growth 2071.8019 Dividend - Daily 1002.0849 Dividend - Weekly 1220.1943 Kotak Commodity Services Private Ltd. [ICRA]A1+ 0.52% ECL Finance Ltd. [ICRA]A1+ 0.51% Total 65.07% Treasury Bills TBILL 91 DAY 06 Sep 18 Sovereign 4.62% Total 4.62% Fixed Deposit Equitas Small Finance Bank Ltd. Unrated 4.16% AU Small Finance Bank Ltd. Unrated 3.13% RBL Bank Ltd. Unrated 3.13% RBL Bank Ltd. Unrated 2.08% Total 12.50% CBLO / Reverse Repo Investments 15.59% Total 15.59% Net Receivable/Payable -3.96% Total -3.96% CRISIL A1+ [ICRA]A1+ Unrated Sovereign CRISIL A1 CARE A1 Cash & Equivalent 4.62% 2.07% 0.72% 12.50% 11.63% 29.68% 38.78% 18