The month of May 2016 marks the end of 2 year of Narendra Modi led

Monthly Update June 2016 The month of May 2016 marks the end of 2 year of Narendra Modi led BJPgovernment. The government came to power with its hands full of issues plaguing the economy. In the last 2 years, Indian economy had witnessed multiple Reforms / Acts with a motive to bring radical and structural changes to the economy. Initiatives like Jan Dhan Yojana, DBTL, Adhaar etc were a welcome move and will prove to be a major booster for Indian economy in the years to come. Other reforms like Bankruptcy Code are a step to address the NPA subject and revive banking segment. Such initiatives strengthen investor s confidence (Foreign & Domestic) and boost capital formation for long term. May 2016 saw Indian indices chartering in northward direction; breaking resistance level of 8000 on 26 May 2016. It seems quarterly results of Indian companies took the lime light, with clearance of NPA clouds and improvement in margins across the board. Majority of banks reported relatively higher NPAfigures and ran into losses which tank markets during the first half of May 16. However, equities recovered subsequently in last week as IMD reassured of an above average monsoon this season which may relieve the strain on agriculture segment and revive rural consumption cycle. This segment has been struggling because of two years of consecutive drought. May 2016 also marks an unparallel mood of stability in interest rates across the credit spectrum. Yields on Sovereign & Corporate bonds remained nearly stable inspite of the seasonal tightening of liquidity in banking system. Simultaneously, FII s withdrew monies worth INR 4400 cr from debt market after a long spree of continuous investing. Commercial banks also observed net outflow of deposits from system and net repayment of credit in the first fortnight of May 16. Overall, Indian markets, debt & equity, are observing an interim regime of consolidation awaiting confirmation over further economic trajectory and monetary policy regime. While the macro continue to post solidarity in trajectory the frequent set of numbers do reflect a mixed overview. Accordingly, it charts as an ideal time to initiate long on Indian markets as the overall risk reward profile remains favourable with limited downside risks. Happy Investing!

June 2016 Things to Know before investing in MF Special Review Always know what you are investing in: Although mutual funds are considered to be less risky than stocks, you can still lose quite a bit if you pick the wrong mutual fund. Do your research diligently in Fund Info section. Select right fund at right time: The point is not to buy every single type of mutual fund in the market, but the best possible option that will give you a well diversified portfolio. Average out Systematic Investment Plan (SIP): SIP teaches us to invest regularly. Mutual funds allow you to invest each month through SIPs. Equity Systematic Investment Plan (SIP) is an instrument which helps you avoid the risk of timing the markets and facilitate wealth creation in a disciplined manner by averaging cost of Investments. Small savings create the big corpus for future. Don't switch mutual funds constantly: Always invest for the long term. Every time you decide to sell a mutual fund and replace it with another, you incur additional costs; initial entry load for the new fund and exit loads from the old fund. Diversify your asset holdings: Do not have all your money in one type of mutual funds. Studies show that asset allocation has as much as 90% impact on a portfolio's returns. Form a portfolio of different assets according to your investment horizon. Watch your time horizon: You may have invested in higher risk mutual funds because you had a longer time horizon. But as your horizon nears, you have to remember to shift to lower risk mutual funds so that you preserve what you have gained. Take risk according to your investment horizon: If you have a long horizon, you may take on higher risk mutual funds. But if you have a short time frame, you should look at less risky, fixed income mutual funds.you shouldn't 'gamble' on a high risk product. Aim low: Be realistic. Do not expect your mutual fund to give 100% returns after one year (or every year). Set your sights lower, and hang on for the long run. Remember that TIME is your best ally in mutual fund investing. Identify Goal: There has to be a goal attached with every investment made by the investor. The investment goal decided by the investor should be a realistic and should be able to meet the investor s expectation. Setting of goal brings discipline and consistency in the investment in different market conditions. Select right fund at right time Always know what you are investing in Average out Systematic Investment Plan (SIP) Don t switch Mutual Funds Constantly Things to know before investing in Mutual Fund Diversify your asset holdings Watch your time horizon Take on risks according to your investment horizon Aim low Risk Tolerance: Risk tolerance indicates the capacity to take risk on the investment. The risk tolerance capacity varies from individual to individual with their age, income and financial goals. Risk tolerance is categorized by Zero or Low, Moderate and High. Investors who have low risk appetite should invest in fixed income securities. Moderate risk appetite investors should invest in hybrid funds and high risk appetite investors make their investment in market related securities. Fund Managers experience and performance: Experience and performance of fund manager is an important aspect when analyzing the performance of the fund. More the experience of the fund manager more the probability of fund to perform well even in adverse market conditions. Frequent change in fund manger effect the performance of the fund. Size of the fund: Assets under management (AUM) is a financial term denoting the market value of all the funds being managed by a asset management company on behalf of its investors. Large size of the fund is more stable than the small size fund. In large cap fund expense ratio is less in comparison to small size fund. Investment style: Investment style refers to the approach that investors take in selecting financial securities for assembling portfolios as they seek to achieve their investment goals. Evaluating a fund's investment style -- which is typically described as aggressive, moderate, conservative, or contrarian -- is an important consideration while choosing mutual funds. Investment Objective: Investment objective helps in determining the type of investment to be made. An investor may wish to maximize current income and capital gains with some capital appreciation. An investment objective helps in setting investment pattern and strategy to the investor to achieve investment goal within define period of time. Expense Ratio: The expense ratio is the fee that all Funds or ETFs charge from their unit holders annually. It includes 12B-1 fees (marketing and promotion), management fees, administrative fees, operating cost and all other asset-based costs incurred by the fund. The expense ratio is deducted from the fund's average net assets and is accrued on a daily basis. If the fund's assets are small, its expense ratio can be quite high because the fund must meet its expenses from a restricted asset base. Conversely, as the net assets of the fund are high, the expense percentage should ideally diminish as expenses spread across the wider base. Exit Load: Mutual funds companies charge to investors when they redeem or transfer an investment between schemes before exit load period. This fee charged is generally referred to as a 'load'. The exit load percentage is deducted from the NAV at the time of redemption or transfer between schemes. The aim behind charging the exit load is to discourage the investors from exit the investment. Tax implications: When you sell a mutual fund and make a profit on it that is known as capital gains. Capital gains are further split into long term and short term. The tax implication differs for equity and debt mutual funds : Tax implication on Mutual Fund category wise Short Term Long Term Category Holding period Tax Rate Holding period Tax Rate Equity < 12 months 15% > 12 months NIL Debt < 36 months As per individual's > 36 months 20% with indexation income tax slab 2

Timing the Market vs Time in the Market June 2016 Special Review Timing the Market It is a strategy in which investors tries to identify the best time to enter the market or the time to exit from the market. Relying heavily on the forecasts and market analysis, market timing is often used by brokers, financial analysts and mutual fund portfolio managers in attempt to reap good returns for their clients. In other words, it s the act of attempting to predict the future direction of the market by using technical indicators or economic data. Investing in mutual fund is a decision each investor takes after analyzing certain factors like past performance of the fund, fund manager, and how it is offering returns in comparison to other funds within the same asset class. Experts in timing the market say that successfully forecasting the market may result in higher returns than any other strategies. Their action for success can range from Pure timers to active strategic allocation. Pure timing requires the investor to determine whether to invest 100% or take out 100% from different asset class. A pure timing strategy is the most risky strategy. Active Strategic Allocation shifts its portfolio weights among various asset class based on expected market movements. Fund managers who manage funds often use this strategy in order to meet their fund s objective. Elements Of Buy and Hold Strategy Asset Allocation Diversifying the portfolio Investment Selection Monitoring portfolio Every investor has some goal in his/her mind while making investments. It can be to achieve a specific goal, to achieve a specified amount of wealth appreciation. The objective help the investor to decide when to sell and at what price. It is very difficult to time the market, so an investor has to decide the investment horizon, which is in turn linked to the investment goal of the investor. A fixed investment period allows the investor to track and review the investments. Investors can cash out their investment when their holding period ends. In order to fulfil the financial goal, investor has to rebalance the portfolio sometimes which helps in identifying the performance of investments and also helps in identifying which investment to keep and which to sell. It requires you to continuously track the performance of the investment. In case of some mutual funds, if the fund/scheme is continuously underperforming then it s the best time to exit from the fund. Investors should pay regard to market conditions. Timing the market indicates that investors who try to time the market are seen as short term investors and can t predict the market movement for long term. Investors who Time the market buy when the market is at low point and sell when the market is high. Risks of timing the market Professionals may be able to use market timing which in turn may give good returns but the biggest risk associated with this strategy is missing the market s best performing cycles. Time In Some individual investors having long term goals might purchase shares and hold on to them throughout market cycles. This is known as buy and hold strategy. Investor who want to stay in market for long horizon, time in the market. Holding Investments for long term require a well developed strategy which includes four elements - Asset Allocation Long term portfolio planning begins with an asset allocation plan that will help the investor to earn good returns with a level of risk that is acceptable by the investor. Combination of different asset class in portfolio will help the investor in earning good returns in future. Diversifying the portfolio Diversifying the portfolio means investing in different asset class to reduce the risk. Diversification in the portfolio can be done either by industry type, market capitalization or by management style. Investment Selection If the investor intends to hold the fund for long term then proper selection should be made before making the investment. The investor should choose the fund after analyzing the past track record of the fund for delivering returns. Monitoring portfolio - Proper Monitoring of the portfolio is required if the portfolio is intended to stay for long term.analyzing the portfolio is required if the objectives or the investment undergo a change. Conclusion: Timing the market is more riskier in comparison to time in the market. Market timing is difficult to carry out on a consistent basis especially for those investors who are not perfect in technical analysis. Timing the market is for those investors who are interested in short term investments whereas time in the market is for those investors who are interested in long term investments and it is also known as buy and hold strategy. Timing the market involves two strategies- Pure timers and active strategic allocation as it is for short time horizon Whereas Time in the market involves four strategies- Asset allocation from different asset class, Diversifying the portfolio, selection of the fund after analyzing the performance of the asset class chosen and lastly monitoring the portfolio. Time in the market is more important than timing the market as investment horizon increases, the impact of short term fluctuation decline. 3

June 2016 Fixed Income Update Equities Update Key Indices 31-May 30-Apr Chg. Crisil 10 Yr G-Sec Index 7.47 7.44 0.03 Crisil 1 Yr T-Bill Index 6.93 6.88 0.05 Forex / Call / Economic Indicators 31-May 30-Apr Rupee/$ 67.23 66.42 Call Rate 6.44 6.49 Total Forex (INR.bn) 24177.90 24041.40 Inflation -- 5.39% Fund Performance Institutional Activity ( May 01- May 31 ) (Rs cr) Debt Purchase Sales Net Inv FIIs 19,455.61 23,864.38-4408.77 Mutual Funds 125,069.00 126,161.60-1092.60 Simple Annualized Debt: Liquid 1M 3M 6M Birla Sun Life Cash Plus - Reg - Growth 7.78 8.60 8.18 ICICI Prudential Liquid - Reg - Growth 7.77 8.39 8.07 Reliance Liquid Fund - TP - Growth 7.75 8.37 8.06 SBI Magnum Insta Cash - Cash Plan 7.74 8.37 8.08 UTI Money Market - Ret - Growth 7.18 7.92 7.55 Key Indices 31-May 30-Apr %Chg. I Yr Ret BSE Sensex 26667.96 25606.62 4.14% -4.10% S&P CNX Nifty 8160.10 7849.80 3.95% -3.00% Other Indices 31-May 30-Apr %Chg. I Yr Ret BSE IT Index 11576.14 11330.17 2.17% 7.00% BSE Healthcare 15246.16 15582.33-2.16% -7.30% BSE FMCG Index 8045.03 7697.38 4.52% 3.10% BSE PSU Index 6256.79 6268.16-0.18% -20.20% BSE Bankex 20111.74 19114.83 5.22% -7.10% Equity Purchase Sales Net Inv FIIs 87,670.73 85,127.84 2542.89 Mutual Funds 23,890.10 17,561.60 6328.50 Fund Performance Equity : Large & Flexi Cap 3M 1Y Franklin India Prima Plus - Growth 61.34 13.25 6.81 HDFC Top 200 - Growth 85.70 10.20 2.83 ICICI Prudential Focused Bluechip Equity Fund 64.98 11.05 4.76 Kotak Select Focus Fund - Reg - Growth 67.19 10.62 7.94 SBI Bluechip Fund - Growth 63.34 16.97 10.50 Debt: Ultra Short Term 1M 3M 6M Equity : Mid & Small Cap 3M 1Y 3Y Birla Sun Life Savings Fund - Reg - Growth 8.65 10.40 9.00 HDFC F R I F - STF - WP - Growth 7.92 9.46 8.44 ICICI Prudential Flexible Income Plan - Reg - Growth 8.43 9.85 8.58 Reliance Money Manager Fund - Growth 8.07 9.46 8.32 UTI Treasury Advantage Fund - IP - Growth 8.17 9.70 8.60 Canara Robeco Emerging Equities - Growth 55.04 0.36 8.92 DSP BlackRock Micro Cap Fund - Reg - Growth 56.81 17.03 18.78 Franklin India Prima Fund - Growth 72.48 15.83 10.19 Franklin India Smaller Companies Fund - Growth 67.57 17.04 14.36 UTI Mid Cap Fund - Growth 38.76 5.88 7.19 Debt: Short Term 1M 3M 6M Equity: Tax Planning 3M 1Y 3Y Axis Short Term Fund - Growth 7.07 10.82 8.35 Birla Sun Life Short Term Fund - Reg - Growth 7.57 10.68 8.97 Birla Sun Life Treasury Optimizer Plan - Reg - Growth 7.17 13.42 9.85 HDFC Short Term Opportunities Fund - Growth 7.98 10.11 8.29 Reliance Short Term Fund - Growth 6.98 10.49 8.36 Debt: Income/ Dynamic 1M 3M 6M Birla Sun Life dynamic Bond Fund - Ret - Growth 8.03 18.27 10.20 ICICI Prudential dynamic Bond Fund - Reg - Growth 5.07 15.46 10.13 Kotak Bond Deposit - Reg - Growth 2.81 17.62 9.86 Reliance dynamic Bond Fund - Growth 4.88 15.00 9.01 Reliance Income Fund - G P - Growth 4.52 15.46 8.66 Debt: Accrual Funds 1M 3M 6M DSP BlackRock Income Opportunities - Reg - Growth 8.39 11.66 9.37 Franklin India Low Duration Fund - Growth 9.59 10.79 8.44 Franklin India Ultra Short Bond Fund - Retail - Growth 8.25 9.43 8.73 HDFC Short Term Plan - Growth 8.11 10.72 9.23 Kotak Income Opportunities Fund - Reg - Growth 8.72 10.35 9.11 Debt: Gilt 1M 3M 6M HDFC Gilt Fund - L T P - Growth 5.27 20.30 10.88 ICICI Prudential Long Term Gilt Fund - Growth 5.57 21.46 10.65 Reliance G Sec Fund - Growth 4.82 17.18 9.82 SBI Magnum Gilt LTP - Growth 4.85 13.49 8.21 Tata Gilt Mid Term Fund - Reg - Growth 5.90 14.48 9.84 Absolute CA* Birla Sun Life Tax Relief 96 - Growth 46.59 9.57 7.57 DSP BlackRock Tax Saver Fund - Growth 64.55 12.67 8.89 Franklin India Taxshield - Growth 61.93 12.40 6.49 ICICI Prudential Long Term Equity 29.59 1.86 4.60 Reliance Tax Saver (ELSS) Fund 52.52 5.03 1.20 Equity: Thematic 1M 3M 6M Birla Sun Life Manufacturing Equity Fund 41.59 6.02 3.22 Birla Sun Life MNC Fund - Growth 32.02 2.65 4.70 Reliance Banking Fund - Growth 113.09 13.81 3.89 Reliance Pharma Fund - Growth -15.83-20.02 1.80 UTI Transportation and Logistics Fund - Growth 51.74 4.87 7.20 Simple Annualized Hybrid: Equity-oriented 1M 3M 6M Birla Sun Life Balanced 95 83.57 64.94 41.45 Franklin India Balanced Fund 51.38 49.07 34.82 HDFC Balanced Fund 54.90 51.11 40.81 Reliance RSF - Balanced 23.14 49.94 35.23 Tata Balanced Fund - Reg 49.65 47.09 34.43 Hybrid: Debt-oriented 1M 3M 6M Birla Sun Life MIP II - Savings 5 - Reg 11.04 17.92 10.37 HDFC Multiple Yield Fund - Plan 2005 17.39 17.13 8.24 ICICI Prudential Regular Income Fund 7.31 10.49 8.78 IDFC Monthly Income Plan - Reg 19.24 16.24 7.29 UTI - MIS - Advantage Fund 21.54 18.49 10.09 3Y Portfolio Apr 30, 2016 & Return June 07, 2016 4 *CA : Compound Annualized

June 2016 This Month in Debt : This Month in Equity : 7.500 7.490 7.480 7.470 7.460 7.450 7.440 7.430 7.420 7.410 7.400 7.441 10 Yr GOI Yield 7.454 7.435 7.432 7.423 7.454 7.479 7.466 7.474 7.460 8200 Nifty 8150 8100 8050 8000 7950 7900 7900 7850 7861 7866 7806 7815 7800 7750 7747 7700 7783 8179 8157 8070 7935 7749 G-Sec Yield: The sovereign 10 Yr benchmark bond yields hardened by 3 bps and ended the month at 7.46%. This month- shift in the sovereign bond yields was heterogeneous across all maturities from 1Yr to 30Yrs. Short end segment (<3Yr) of yield curve has observed a hardening of ~3 bps while Long end (>3 Yr) observed no movement. Sovereign bond yield have inched up in tandem with the weakness in Rupee and rising prospects of a FED rate hike. Credit & deposit growth are hovering near multi years lows and stood at 9.80% in May'16. Credit deposit ratio stood at 76.01%. On the other hand, investment deposit ratio stood at 28.43% and incremental investment deposit ratio stood at 40.58% reflecting higher flows of monies into treasury and investing activities rather than credit deployment. On absolute basis, INR 9.30 bn are being deployed in the second fortnight of Apr'16 vs. INR 310.1 bn being deposited into the banks reflecting low incremental credit/ deposit growth. Globally, yields across major advanced economies but US have softened further inspite of remaining in ultra low/ negative territory. United States observed hardening in sovereign yields by 3 bps as retail inflation increased by 1.1% (YoY basis) inapr'16 highlighting better prospects of rate hike ahead. Euro Area continues to experience negative interest rates (-0.32%), where policy makers have agreed that risks associated to growth have moderated and focus is on implementation of stimulus package announced in Mar'16. Liquidity : Liquidity conditions tightened in May 2016 with average daily LAF borrowing ~ INR 219.96 bn in May'16 as against ~INR 67.35 bn in Apr'16. In May 2016, RBI conducted OMO worth 700 bn in past 2 months to infuse liquidity. If 1% of net NDTL is INR 80,000 Crores, then as per RBI it should 8 months to bring liquidity from deficit mode to neutral. WPI inflation increased for the fourth consecutive month and moved into positive terrain. WPI stood at 0.34% in Apr'16 as compared to -2.43% a year ago. Similarly, CPI increased from 4.87% (Apr'15) to 5.39% (Apr'16). Core inflation (ex. food and fuel) increased to -0.19% in Apr'16 as against -0.40% in Mar 16. Within core group, Non-Food articles observed the highest inflation of 7.12% followed by Beverage, Tobacco &Tobacco products @ 6.40% inapr 16. Fiscal Deficit for FY16 stood at INR 5.32 lakh cr against the target of 5.35 lakh cr i.e. @ 3.9% of GDP. GOI targets to bring down fiscal deficit to 3.5% of GDP in FY17. GDP growth for Q4 stood at 7.9% talking up total FY16 growth at 7.6%. Growth was led by services sector which grew by 8.75%. Outlook The current domestic macros reflect mixed sentiments led by a series of domestic and global macro footprints. While domestic macros continue to portray a mixed picture, FII after a long time turned net sellers in G-sec and sold INR 44.08 bn in May'16. On international front, the firming up of inflation and GDP numbers in US increases the expectation of a rate hike ahead which also drew FII s to divest from India. La Nina favoring monsoon may decide the upcoming trajectory of inflation. The banking system is caught in a viscous circle of rising NPA s & depleting margins, which does not allow aggressive policy transmission. While it may take a little longer to improve the systemic long term liquidity; the MCLR based lending system may ease short term liquidity instantly. Credit offtake is yet to take place supported by an increase in low cost incremental deposits. Accordingly, RBI kept policy rates on hold vouching for inflation and monsoon trajectory. In light of the current scenario, we recommend long term investors to continue core allocation in Accrual/short term funds for yield enhancement. Investors may also initiate tactical call in duration funds if benchmark yield hardens by 5/7 bps further. 5 Returns for May'16 Nifty Dow FTSE 100 Hang Seng Kospi Nasdaq Nikkei Sensex TTM -3.24% -0.58% 0.70% -24.57% -5.65% 2.07% -16.21% -4.24% May' 16 4.43% -1.40% -10.39% 0.66% 0.32% -2.65% 6.73% 4.83% May 2016 ended in positive with Sensex and Nifty up by 4.83% and 4.43% respectively. Amongst sectoral indices, Auto (4.67%), Capital Goods (9.61%), Realty (5.36%) ended in green while Oil & Gas (0.62%), Telecom (2.19%) ended in red. Markets went on an upswing led by strong better than expected corporate earnings and IMD s above average monsoon forecast (109% of LPA). Corporate results for Q4FY16 reveal ~4.6% top line growth and 8.7% bottom line growth led by improvement in margins and lower borrowing costs. Amongst domestic macros, Industrial output grew at a tepid rate of 0.1% in Mar'16 after registering a healthy growth of 2.00% in Feb'16. Within IIP, Manufacturing and Mining sector degrew by 1.20% and 0.1% while Electricity sector grew by 11.30% onyoybasis. Overall IIPgrowth stood at 2.49% in FY16 against 2.82% in FY15. Amongst advanced indicators, Core sector growth stood at 8.42% in Apr'16 as against 6.41% in Mar'16 with a sharp uptick in Electricity, Steel and Refinery products. Accordingly, manufacturing PMI for May'16 stood at 50.7 as against 50.5 inapr 16. The manufacturing sector witnessed inflow of new orders albeit at a tepid pace. Foreign Institutional Investors remained buyers in equities during May'16 for the third straight month in succession and poured funds to the tune of INR 2542.89 Crores. During the period (April-May'16), domestic institutional investors have poured INR 4203.72 Cr vs. 10958.20 Cr by Foreign Institutional Investors (FII). Foreign Institutional investors have continued to remain upbeat on Indian economy. On the other hand, foreign institutional investors remain cautious ahead of FOMC interest rate meet and draw funds to the tune of INR 4408.77 Cr in debt. Simultaneously, Foreign direct investment inflows stood at INR 2,623 bn during FY 15-16 representing a growth of 38.72% against FY 14-15. Trade Deficit: India s trade deficit for the period April 2016 stood at US $ 4.8 bn which is lower than the deficit of US $ 10.99 bn during the same period a year ago. India trade deficit narrowed further and hit five year low @ US $ 4.84 bn led by sharp fall in gold imports due to strike by jewellers. Exports declined for the nineteen month straight in succession. The fall in exports is line with the global muted demand. Despite of saving arising out of crude oil prices, Indian current account deficit may come under pressure on account of muted trade data. Globally, US economy expanded by 0.8% (Q1-2016) better than initial estimates of 0.50%. Consumption continued to increase growth as spending on home building increased more than expected. UK economy expanded by 0.40% (QoQ basis), slowing from 0.60% growth in the previous period. Household spending continuance has kept the growth momentum while exports shrank and business investment contracted amid uncertainty looming over EU membership referendum. Outlook The recently released growth numbers have brought optimism amongst market participants. The Indices continues to take northward direction led by positive triggers from macros. Quarter ending (Mar'16) results have mixed reactions with some segments exceeding investor expectations and others reporting margin pressure and bad assets escalation. Overall, Nifty EPS still appears to be in consolidation phase and a recovery is underway. On monsoon front, IMD & Skymet project an above average monsoon this year which so far (May-June) has been marginally deficient. On expected lines this should favour agricultural segment and boost rural consumption expenditure. In near term, domestic concerns remain alive from credit deployment, policy transmission and inflation trajectory. Internationally, concerns remain alive from Euro area & US Fed policy.

Equity : Diversified Fund Equity : Mid & Small Cap Fund Portfolio Apr 30, 2016 & Return June 07, 2016 June 2016 Mutual Fund Performance Update Auto Energy Fin. IT Pharma Services Others Corpus Absolute Compound Annualized Services (Cr.) 3M 6M 1Y 3Y Axis Equity Fund 10.07 5.72 32.50 14.43 7.01 4.94 25.33 2052.66 55.66 43.91 12.53 5.33 Axis Focused 25 Fund 12.98 0.00 30.22 11.91 6.21 2.29 36.39 375.08 66.39 50.70 14.55 5.27 Birla Sun Life Advantage Fund 17.98 6.99 33.28 6.55 9.66 0.86 24.68 1086.26 70.54 53.84 16.83 8.40 Birla Sun Life Equity Fund 7.59 4.87 30.04 6.55 15.05 1.60 34.30 2399.48 56.65 49.02 14.12 7.97 Birla Sun Life Advantage Fund 17.98 6.99 33.28 6.55 9.66 0.86 24.68 1086.26 70.54 53.84 16.83 8.40 BNP Paribas Equity Fund 6.24 2.92 33.66 6.41 4.83 6.52 39.42 1370.78 47.45 43.61 8.96 2.64 Canara Robeco Equity Diversified 9.53 11.96 22.85 9.67 4.82 5.08 36.09 712.06 58.09 38.73-1.81-1.06 DSP BlackRock Equity Fund 12.11 13.30 24.87 8.17 8.55 3.34 29.66 2298.07 46.97 40.57 1.93 2.95 DSP BlackRock Focus 25 Fund 20.79 9.57 29.94 6.52 10.40 6.14 16.64 1399.08 41.88 44.70 7.04 1.97 Franklin India Flexi Cap Fund 13.66 5.80 29.01 12.69 9.03 2.38 27.43 2795.34 55.32 41.09 8.97 3.32 Franklin India High Growth Companies 16.67 0.00 36.65 6.32 2.80 1.30 36.26 4349.17 75.70 52.68 4.87 2.03 Franklin India Prima Plus 11.48 2.75 30.38 10.06 7.83 2.03 35.47 7424.52 61.34 44.10 13.25 6.81 Goldman Sachs India Equity Fund 6.65 1.98 26.87 10.66 6.36 4.63 42.85 57.88 71.13 49.38 4.36 4.45 HDFC Capital Builder Fund 6.28 12.12 23.96 9.86 7.02 2.27 38.49 1156.94 58.51 45.15 6.14 6.19 HDFC Equity Fund 13.29 10.13 30.98 13.78 4.44 0.00 27.38 14706.36 87.71 59.10 6.53 1.15 HDFC Top 200 8.99 12.33 34.01 13.29 4.34 0.00 27.04 11990.28 85.70 56.49 10.20 2.83 HSBC India Opportunities Fund 8.52 3.97 34.62 15.05 8.22 0.00 29.62 470.65 85.08 58.92 20.40 6.09 ICICI Prudential Top 100 Fund 4.70 19.52 17.30 10.91 11.64 6.21 29.72 1475.41 50.56 34.42 9.26 1.95 ICICI Prudential Multicap Fund 6.45 8.40 30.38 5.61 15.63 8.30 25.23 1084.94 54.33 43.19 7.90 6.85 Kotak Select Focus Fund 11.10 13.08 25.92 8.17 4.59 1.85 35.29 4424.71 67.19 49.27 10.62 7.94 L&T Equity Fund 10.33 6.85 22.98 10.24 7.59 3.52 38.49 2839.83 72.50 41.73 9.14 1.29 Mirae Asset India Opportunities Fund 11.06 8.40 29.65 9.88 8.30 3.00 29.71 1803.43 79.48 50.54 13.85 8.38 Motilal Oswal MOSt Focused 25 Fund 14.04 4.14 30.11 15.20 2.49 13.67 20.35 403.39 35.27 30.50 3.40-0.70 Motilal Oswal MOSt Focused 25 Fund 14.04 4.14 30.11 15.20 2.49 13.67 20.35 403.39 35.27 30.50 3.40-0.70 Principal Growth Fund 10.31 6.35 22.10 9.13 6.43 5.57 40.11 355.70 61.78 47.29 6.70 5.94 Reliance Equity Opportunities Fund 3.68 0.69 24.82 7.79 10.80 6.55 45.67 10544.23 63.23 35.10-7.54-2.76 Reliance Growth 2.05 1.64 27.65 7.97 9.66 4.70 46.33 5047.99 77.47 50.95 3.59 3.58 Reliance RSF - Equity 6.67 2.87 17.44 11.09 6.63 6.88 48.42 2611.46 55.17 39.06-6.72 1.83 Reliance Vision 18.60 0.00 28.25 14.93 1.78 0.00 36.44 3075.27 70.76 42.77 10.18 2.21 Invesco India Growth Fund 12.16 9.26 30.46 17.76 2.46 0.00 27.90 125.26 73.20 46.31 11.90 2.77 SBI Magnum Equity Fund 6.22 8.45 31.76 14.55 5.95 7.42 25.65 1513.95 80.49 45.30 14.62 8.09 SBI Magnum Global Fund 94 6.50 0.00 14.59 1.96 3.09 8.33 65.53 2689.93 47.07 41.51 8.16 5.60 SBI Magnum Multi Cap Fund 8.63 8.90 25.89 10.35 7.34 3.07 35.82 718.23 61.90 50.59 16.24 11.59 SBI Magnum Multiplier Fund 7.41 12.61 21.99 7.99 7.97 1.96 40.07 1517.18 60.00 45.69 9.13 7.01 Tata Equity Opportunities Fund 12.97 7.28 20.04 7.54 9.47 4.82 37.88 1151.15 62.66 43.25 6.26 6.58 Tata Ethical Fund 15.50 4.77 0.00 16.52 11.00 1.21 51.00 448.09 30.41 23.43 1.95 1.53 Union KBC Equity Fund 15.99 3.21 27.30 13.36 6.20 0.00 33.94 148.84 75.88 44.99 5.89-1.76 UTI Equity Fund 11.87 2.05 30.03 14.70 13.73 0.00 27.62 4818.77 67.28 41.44 11.12 5.41 UTI Mastershare 8.81 9.13 27.94 13.65 7.26 1.79 31.42 3103.13 63.15 41.37 10.95 2.72 UTI Opportunities Fund 13.33 6.93 30.11 14.07 6.18 1.22 28.16 4738.43 77.79 44.70 10.53 0.56 Axis Midcap Fund 7.91 6.88 25.94 6.00 7.78 2.85 42.64 1203.19 35.24 40.81 0.82 0.20 BNP Paribas Mid Cap Fund 2.41 3.80 21.35 2.19 8.35 9.95 51.95 549.17 48.18 49.99 4.43 8.86 Canara Robeco Emerging Equities 6.80 9.14 15.96 3.95 5.70 6.09 52.36 992.51 55.04 52.33 0.36 8.92 DSP BlackRock Micro Cap Fund 5.09 1.48 9.22 6.19 5.06 0.13 72.83 2544.15 56.81 69.28 17.03 18.78 Franklin India Prima Fund 10.08 6.36 30.35 6.05 5.54 3.22 38.40 3845.72 72.48 60.32 15.83 10.19 HDFC Mid-Cap Opportunities Fund 7.81 4.57 20.85 6.87 9.11 2.08 48.71 10649.40 53.97 51.34 9.12 7.15 ICICI Prudential MidCap Fund 5.43 10.20 26.11 5.63 2.55 1.94 48.14 1130.46 25.00 31.07-5.68-0.24 IDFC Premier Equity Fund 8.32 3.83 10.93 0.15 5.18 15.51 56.08 5998.83 45.00 40.68 5.82 3.22 JPMorgan India Mid and Small Cap 11.48 1.75 20.84 3.79 4.41 3.12 54.61 588.94 55.33 45.47 3.34 4.09 Mirae Asset Emerging Bluechip 9.15 8.41 20.03 5.85 11.19 4.74 40.63 1464.50 72.38 51.22 11.90 15.65 Principal Emerging Bluechip Fund 12.34 8.99 15.22 4.07 9.77 4.35 45.26 510.37 51.85 55.92 12.41 7.30 Reliance Mid & Small Cap Fund 4.93 4.67 16.82 2.08 7.94 10.39 53.17 2069.53 72.56 61.87 2.73 8.49 Reliance Small Cap Fund 2.93 2.24 16.83 9.29 5.39 2.49 60.83 1994.66 37.87 47.02-4.39 14.73 SBI Magnum Midcap Fund 1.80 2.69 17.83 4.44 11.10 5.14 57.00 1776.62 66.62 67.88 17.54 14.86 Sundaram Select Midcap 10.42 5.64 17.76 3.37 2.11 2.42 58.28 3439.51 49.76 58.17 11.03 10.78 UTI Mid Cap Fund 13.49 5.75 17.38 3.31 4.33 0.83 54.91 3227.12 38.76 46.04 5.88 7.19 6

Equity : Tax Saving Funds June 2016 Mutual Fund Performance Update Auto Energy Fin IT Pharma Services Others Corpus Absolute Compound Annualized Services (Cr.) 3M 6M 1Y 3Y Compound Annualized Axis Long Term Equity Fund 13.64 2.30 32.20 10.08 10.09 1.21 30.48 8244.80 63.70 39.01 10.77 5.66 Birla Sun Life Tax Plan 15.05 2.70 23.42 5.92 8.53 5.71 38.67 340.49 45.81 40.93 9.38 7.16 Birla Sun Life Tax Relief 96 15.09 2.71 23.54 5.95 8.55 5.73 38.43 2121.37 46.59 42.41 9.57 7.57 BNP Paribas Long Term Equity Fund 6.22 2.69 29.97 5.39 4.71 7.96 43.06 446.19 40.89 39.77 6.56 2.56 Canara Robeco Equity Taxsaver 7.83 13.90 23.84 6.76 5.95 4.98 36.74 796.18 45.51 39.58 2.70 1.19 DSP BlackRock Tax Saver Fund 11.90 12.66 22.29 7.55 11.73 0.92 32.95 1176.52 64.55 51.37 12.67 8.89 Franklin India Taxshield 11.23 2.66 29.53 9.26 7.95 1.88 37.49 2064.68 61.93 43.54 12.40 6.49 HDFC Long Term Advantage Fund 13.86 11.43 22.31 13.50 1.46 1.96 35.48 1108.19 77.29 56.04 18.59 7.87 HDFC Taxsaver 8.99 12.20 27.09 11.25 3.26 0.28 36.93 4642.45 70.71 48.46 1.63-1.06 ICICI Prudential LT Equity (Tax Saving) 5.14 1.49 23.76 5.64 19.57 10.28 34.12 3025.17 29.59 33.36 1.86 4.60 IDBI Equity Advantage Fund - Reg 23.07 3.08 21.29 0.00 3.07 3.42 46.07 456.10 54.29 40.56 7.52 5.52 Invesco India Tax Plan 13.60 12.47 27.90 15.40 4.02 1.55 25.06 282.06 65.34 44.58 9.39 4.38 L&T Tax Advantage Fund 5.25 4.85 21.73 10.23 6.36 2.80 48.78 1505.01 66.85 46.38 10.34 6.57 Reliance Tax Saver (ELSS) Fund 15.18 1.99 19.36 1.73 3.57 7.85 50.32 4841.49 52.52 43.88 5.03 1.20 SBI Magnum Tax Gain Scheme 93 8.73 11.69 24.38 10.84 6.44 6.62 31.30 4456.77 61.39 45.12 6.99 1.79 Equity : Large Cap Funds Birla Sun Life Frontline Equity Fund 7.50 11.56 28.77 11.02 8.44 0.00 32.71 11201.74 75.98 45.26 15.66 6.41 Birla Sun Life Top 100 Fund 7.39 14.34 26.63 13.36 8.53 0.00 29.75 1878.59 71.26 43.39 12.47 6.22 DSP BlackRock Top 100 Equity Fund 18.55 14.43 28.36 9.37 9.63 3.34 16.32 3309.61 54.35 47.88 8.17 2.87 Franklin India Bluechip 10.35 8.50 30.05 15.06 7.12 0.71 28.21 6949.68 73.89 45.10 15.65 5.71 ICICI Prudential Focused Bluechip Equity 8.47 9.41 36.31 12.51 7.96 1.01 24.33 10398.36 64.98 45.41 11.05 4.76 ICICI Prudential Select Large Cap 8.13 11.72 30.51 10.23 5.53 0.00 33.88 551.30 67.03 46.79 13.27 2.14 IDBI India Top 100 Equity Fund 20.46 5.35 22.10 3.63 8.39 2.13 37.94 354.94 47.91 36.17 7.07 2.19 Reliance Focused Large Cap Fund 7.90 7.54 24.30 12.74 6.96 3.64 36.92 980.98 70.98 37.93-2.01-0.56 Reliance Top 200 Fund 12.39 12.51 26.32 8.58 3.29 3.53 33.38 2072.88 74.73 38.25 1.95 0.77 SBI Bluechip Fund 9.59 7.87 28.70 9.36 10.27 0.46 33.75 5624.47 63.34 48.21 16.97 10.50 Tata Large Cap Fund 10.15 9.90 23.54 11.86 8.59 2.79 33.17 771.58 69.80 39.54 9.92 4.49 UTI Mastershare Fund 8.81 9.13 27.94 13.65 7.26 1.79 31.42 3103.13 63.15 41.37 10.95 2.72 Equity : Index Funds Birla Sun Life Index Fund 8.84 8.92 34.82 13.38 5.88 0.61 27.55 133.25 79.34 43.43 15.09 2.88 Franklin India Index Fund - NSE Nifty Plan 11.04 11.18 29.19 16.80 7.38 0.75 23.66 213.41 79.85 42.73 14.65 3.04 Goldman Sachs CNX 500 Fund 9.53 10.35 25.90 13.04 7.70 1.85 31.63 59.15 66.43 40.69 10.56 3.28 HDFC Index Fund - Nifty Plan 11.02 11.14 29.04 16.73 7.35 0.75 23.97 179.95 81.04 43.29 15.24 3.47 HDFC Index Fund - Sensex Plan 11.20 10.70 29.14 17.63 8.36 0.94 22.03 89.62 83.87 40.60 14.65 3.10 HDFC Index Fund - Sensex Plus Plan 9.76 12.46 27.06 15.33 7.30 0.81 27.28 111.80 72.87 40.12 11.91 1.04 ICICI Prudential Index Fund 10.83 10.94 28.53 16.43 7.22 0.74 25.31 198.68 79.80 43.54 15.17 3.27 ICICI Prudential Nifty Junior Index Fund 5.06 10.76 18.21 1.52 9.22 2.16 53.07 28.53 33.81 34.98 5.32 5.02 IDBI Nifty Index Fund 11.13 11.24 29.20 16.86 7.42 0.76 23.39 119.65 78.39 41.31 13.53 2.17 IDBI Nifty Junior Index Fund 5.12 10.84 18.38 1.54 9.34 2.19 52.59 32.45 33.06 33.56 4.01 3.93 IDFC Nifty Fund - Reg 10.46 10.61 27.61 15.89 7.00 0.71 27.72 71.11 81.33 43.71 15.64 3.61 Reliance Index Fund - Nifty Plan 11.11 11.23 29.26 16.86 7.41 0.76 23.37 73.17 80.16 42.93 14.65 2.72 SBI Nifty Index Fund 10.41 10.53 28.35 15.77 6.96 0.70 27.28 205.79 80.68 43.10 14.83 2.90 UTI Nifty Fund 11.11 11.23 29.34 16.87 7.41 0.76 23.28 386.31 80.76 43.43 15.41 3.62 Equity : Dividend Yield Funds Birla Sun Life Dividend Yield Plus 4.84 9.69 22.51 10.91 7.55 2.38 42.12 1037.53 55.66 31.62 0.00-1.38 BNP Paribas Dividend Yield Fund 1.92 4.18 25.87 5.46 4.40 4.38 53.79 196.30 42.97 38.70 7.13 1.99 Principal Dividend Yield Fund 20.10 15.99 16.95 6.94 2.16 1.57 36.29 102.86 61.00 47.34 3.59 2.39 Tata Dividend Yield Fund - Reg 7.66 4.49 24.10 22.38 8.98 0.00 32.39 287.54 74.51 45.47 8.56 5.91 UTI Dividend Yield Fund 3.91 12.85 24.53 19.14 4.01 4.38 31.18 2624.56 63.39 42.61 9.26 1.90 Portfolio Apr 30, 2016 & Return June 07, 2016 7

Equity : Balanced Funds June 2016 Mutual Fund Performance Update Auto Energy Fin IT Pharma Services Others Corpus Absolute Compound Annualized Services (Cr.) 3M 6M 1Y 3Y Birla Sun Life Balanced 95 5.85 8.80 22.72 6.87 6.12 0.64 49.00 2702.38 64.94 41.45 14.44 9.52 Canara Robeco Balance 4.52 12.06 20.46 3.40 3.80 2.91 52.85 492.55 37.99 37.42 1.51 5.18 DSP BlackRock Balanced Fund 8.53 13.45 27.73 4.87 10.14 1.61 33.67 1074.28 51.02 39.53 9.05 7.61 HDFC Balanced Fund 6.61 8.24 19.89 8.47 4.54 2.84 49.41 5543.32 51.11 40.81 10.98 7.19 HDFC Prudence Fund 7.85 5.38 24.01 7.24 2.32 1.21 51.99 8021.14 59.81 44.94 5.02 5.21 ICICI Prudential Balanced 6.48 16.71 25.05 6.36 6.64 2.80 35.96 2752.30 33.63 29.79 6.85 5.28 ICICI Prudential Balanced Advantage 5.76 6.90 21.00 9.69 6.01 1.85 48.79 11360.23 43.52 33.56 9.02 6.95 Reliance RSF - Balanced 13.66 9.26 31.16 5.99 5.40 1.03 33.50 2261.35 49.94 35.23 7.54 8.38 SBI Magnum Balanced Fund 4.67 3.92 23.05 13.18 1.02 12.29 41.87 4393.18 53.21 34.22 9.68 7.84 Tata Balanced Fund - Reg 5.54 4.86 23.19 7.23 8.29 2.77 48.12 5814.97 47.09 34.43 7.27 4.15 UTI Balanced Fund 6.81 13.02 24.37 9.97 6.00 5.03 34.80 1352.72 58.44 41.26 11.26 6.64 Equity : ETF Funds GS Bank BeES 0.00 0.00 99.93 0.00 0.00 0.00 0.07 589.07 116.86 74.22 13.42 3.02 GS Hang Seng BeES 0.00 11.72 43.81 0.64 0.00 2.40 41.43 5.43 79.46 25.09-4.22-16.43 GS Nifty BeES 11.13 11.25 29.31 16.89 7.42 0.76 23.24 973.38 81.13 43.56 15.45 3.63 ICICI Prudential CNX 100 ETF 9.98 10.95 27.05 14.22 7.54 0.95 29.31 26.06 72.32 41.63 13.69 3.98 ICICI Prudential Nifty ETF 11.11 11.23 29.27 16.86 7.41 0.76 23.36 511.70 81.51 43.92 15.89 4.03 Kotak Nifty ETF 11.13 11.25 29.33 16.89 7.42 0.76 23.22 309.76 64.67 37.82 12.87 2.59 MOSt Shares M100 6.68 10.26 15.92 6.53 11.31 5.02 44.28 36.94 27.18 32.50 4.91 6.95 MOSt Shares NASDAQ 100 1.56 0.00 0.64 48.67 14.50 3.50 31.13 60.31 64.79 19.83-6.63 5.95 R*Shares Banking ETF 0.00 0.00 99.95 0.00 0.00 0.00 0.05 320.37 117.37 74.70 13.79 3.31 R*Shares CNX 100 ETF 10.04 11.00 27.17 14.29 7.58 0.96 28.96 6.39 72.12 41.27 13.22 3.37 R*Shares Nifty ETF 11.03 11.16 29.10 16.76 7.36 0.75 23.84 24.86 81.05 44.00 15.93 4.15 SBI ETF Sensex 11.20 10.70 29.13 17.61 8.35 0.94 22.07 1853.25 83.34 40.55 14.64 3.08 Equity : Arbitrage Funds Birla Sun Life Enhanced Arbitrage 9.35 10.93 49.38 3.57 7.62 1.92 17.23 1027.36 5.32 5.23 5.95 5.93 DHFL Pramerica Equity Income Fund 2.06-0.07 13.70 3.83-0.04 9.14 71.38 38.77 25.46 17.05 9.34 7.76 HDFC Arbitrage Fund - Ret 6.23 8.37 50.11 2.38 7.52 5.86 19.53 2055.83 5.80 4.61 5.99 6.21 ICICI Prudential Equity - Arbitrage 2.75 15.27 41.48 6.84 6.17 1.89 25.60 4060.69 5.21 5.20 6.25 6.11 IDFC Arbitrage Fund - Reg -0.06-0.05 24.13-0.02-0.07-0.02 76.09 2552.90 5.24 4.82 5.94 6.02 IDFC Arbitrage Plus Fund - Reg -0.05-0.04 17.24-0.02-0.07 0.00 82.94 463.82 5.24 5.90 6.08 6.14 Invesco India Arbitrage Fund -0.01-0.08 18.91 0.00-0.01-0.01 81.20 575.63 5.76 4.52 6.02 6.14 JM Arbitrage Advantage Fund - Reg 3.11 10.64 50.95 2.68 3.06 3.24 26.32 2093.91 5.72 5.23 6.01 6.01 Kotak Equity Arbitrage Fund - Reg -0.05-0.06 21.99-0.03-0.04-0.02 78.21 4067.05 5.82 5.07 6.23 6.30 Reliance Arbitrage Advantage 6.14 10.14 43.82 4.33 7.35 4.79 23.43 3031.15 5.89 4.60 5.93 6.13 SBI Arbitrage Opportunities 7.19 16.90 48.72 2.66 11.31 0.38 12.84 1195.62 5.78 4.78 5.84 5.66 UTI Spread Fund - Growth 10.87 8.49 47.99 1.88 2.56 3.95 24.26 593.99 4.76 4.43 5.77 6.05 Equity : Thematic Funds Birla Sun Life India GenNext 11.62 0.00 30.34 0.00 10.44 1.92 45.68 376.13 72.32 54.21 17.79 8.93 Birla Sun Life MNC Fund 16.87 0.18 15.49 0.54 13.06 7.39 46.47 3220.61 32.02 38.73 2.65 4.70 Franklin Build India Fund 16.70 3.86 36.94 0.00 1.23 1.61 39.66 573.78 73.92 58.09 10.75 4.56 ICICI Pru Exports & other Services Fund 6.59 0.00 5.76 19.38 33.38 6.95 27.94 795.08 29.48 6.23-9.09 4.07 L&T India Special Situations Fund 5.48 6.52 23.72 12.66 5.39 3.64 42.59 931.28 68.43 39.60 5.66 1.91 Reliance Pharma Fund 0.00 0.00 0.00 0.00 97.32 0.00 2.68 1447.73-15.83-18.51-20.02 1.80 SBI Pharma Fund 0.00 0.00 0.00 0.00 86.67 0.00 13.33 1005.40-11.23-8.37-15.59 2.68 UTI MNC Fund 17.01 1.27 3.06 5.42 7.54 1.40 64.30 1913.36 36.38 32.25 0.76 3.15 UTI Transportation & Logistics Fund 66.13 1.76 1.67 0.00 0.00 13.53 16.91 676.58 51.74 42.98 4.87 7.20 Portfolio Apr 30, 2016 & Return June 07, 2016 *CA : Compound Annualized 8

June 2016 Mutual Fund Performance Update AAA & AA & AA+ Sov. A & A+ Others Cash Equity Corpus Avg. Exp. Simple Annualized CA* A1 Plus & A1 & A- (Cr.) Maturity 1M 3M 6M 1Y Debt : MIP Funds Axis Income Saver Fund 50.69 16.23 0.00 2.28 30.30 0.50 24.79 607.61 1.10 2.15 19.10 14.04 7.29 7.15 Birla Sun Life MIP II - Savings 5 14.69 1.29 53.77 8.39 9.89 11.97 9.89 245.36 6.29 1.42 11.04 17.92 10.37 8.97 Birla Sun Life MIP II - Wealth 25 0.49 0.86 56.61 3.05 29.87 9.12 29.50 1060.97 7.57 2.19 28.10 29.66 12.10 8.69 Birla Sun Life Monthly Income 15.33 0.00 45.51 12.77 14.84 11.55 14.84 253.28 5.81 2.57 12.47 16.91 9.72 7.98 BNP Paribas MIP 22.26 6.03 36.70 0.00 22.51 12.50 19.57 183.60 4.92 2.41 12.03 18.95 8.84 6.44 Canara Robeco Monthly Income Plan 24.49 4.33 35.60 0.00 27.07 8.51 23.83 300.35 0.00 2.48 14.51 17.31 3.02 4.63 DSP BlackRock MIP Fund 22.96 8.93 35.12 0.00 24.67 8.32 24.67 388.19 4.39 2.53 14.02 18.58 4.66 6.13 Franklin India MIP 10.48 6.11 49.73 0.00 29.17 4.51 20.11 418.89 6.73 2.26 17.91 20.06 9.75 7.67 HDFC MIP - LTP 7.70 5.44 46.43 2.93 34.37 3.13 24.75 3602.93 6.67 2.03 26.43 25.94 8.57 7.79 HDFC MIP - STP 26.00 4.37 34.16 6.63 25.63 3.21 18.32 277.48 3.72 2.54 15.79 19.06 6.50 5.71 HDFC Multiple Yield Fund - Plan 2005 44.40 17.38 0.00 0.00 34.13 4.09 18.88 171.35 0.37 1.94 17.39 17.13 8.24 7.44 HSBC MIP - Savings Plan 20.13 1.65 45.80 0.00 24.31 8.11 24.30 214.30 4.83 2.32 23.83 21.37 7.97 6.94 ICICI Prudential MIP - Cumulative 17.94 15.60 29.10 2.68 27.04 7.64 13.26 332.61 4.84 2.15 14.80 17.30 6.09 6.62 ICICI Prudential MIP 25 25.22 3.49 37.69 0.77 28.90 3.93 23.04 1173.60 4.81 1.88 23.62 23.72 8.78 8.24 IDFC Monthly Income Plan 12.89 2.63 57.53 0.00 23.46 3.49 23.47 261.95 3.86 2.36 19.24 16.24 7.29 6.61 Kotak Monthly Income Plan 0.08 0.00 63.66 0.00 19.69 16.57 19.20 124.07 4.80 1.91 22.73 24.47 11.32 9.56 Reliance MIP 12.76 10.98 29.29 12.02 30.83 4.12 19.73 2534.98 5.01 1.82 16.12 17.43 6.71 6.49 SBI Magnum MIP 5.09 6.65 53.06 18.20 14.46 2.54 14.46 388.74 4.31 2.75 15.34 18.22 10.96 9.60 UTI - MIS - Advantage Fund - Growth 24.29 4.85 33.55 0.00 28.60 8.71 25.06 682.44 0.00 2.20 21.54 18.49 10.09 8.35 UTI Monthly Income Scheme 29.59 5.57 29.75 0.00 24.46 10.63 14.80 274.77 0.00 2.15 19.94 17.03 9.19 7.34 AAA & A1 AA & Sov. A & A+ Others Cash Corpus Avg. Exp. Simple Annualized CA* Plus AA+ &A1 &A- (Cr.) Maturity 7D 1M 3M 6M 1Y Debt: Short-term Funds Birla Sun Life Medium Term 18.24 13.70 26.07 21.08 18.39 2.52 5643.65 3.19 1.66 10.28 7.56 12.28 9.36 9.92 Birla Sun Life Short Term Fund 50.09 9.42 34.68 0.00 2.09 3.72 10782.03 2.24 0.36 9.64 7.57 10.68 8.97 9.14 Birla Sun Life Treasury Optimizer Plan 34.08 9.00 52.13 0.00 0.00 4.79 5297.43 3.68 0.63 9.72 7.17 13.42 9.85 9.65 DSP BlackRock Income Opportunities 44.04 20.53 0.00 27.68 5.20 2.55 2800.54 1.94 1.80 11.16 8.39 11.66 9.37 9.83 Franklin India STIP 6.29 4.68 0.00 58.72 28.27 2.04 8165.59 1.72 1.56 10.57 9.63 10.24 4.62 6.91 HDFC HIF - S T P 28.48 17.79 36.02 3.39 11.49 2.83 1506.71 3.40 1.05 9.49 6.60 11.74 8.53 8.37 HDFC Short Term Opportunities Fund 72.25 14.51 9.27 0.00 0.00 3.97 6733.08 1.36 0.33 9.14 7.98 10.11 8.29 8.54 HDFC Short Term Plan 15.37 15.55 1.01 36.69 20.24 11.14 2646.03 1.43 1.58 9.84 8.11 10.72 9.23 9.52 ICICI Pru Banking & PSU Debt Fund 54.59 0.00 40.20 0.00 0.01 5.20 3877.90 3.45 0.66 9.10 6.67 14.32 9.82 9.81 ICICI Pru STP 48.83 13.95 32.18 0.00 0.86 4.18 5869.45 2.77 1.14 9.04 6.93 12.51 9.03 9.06 IDFC SSIF - MTP 69.92 2.31 26.01 0.00 0.01 1.75 3696.00 2.15 1.20 8.96 6.82 10.19 8.00 8.22 IDFC SSIF - Short Term 87.40 9.12 0.00 0.00 0.00 3.48 4463.52 1.82 0.83 10.42 7.17 10.23 8.01 8.37 Reliance Medium Term Fund 49.21 30.67 0.00 3.93 13.34 2.85 4719.94 0.85 0.64 8.94 8.30 9.67 8.30 8.57 Reliance Short Term Fund 54.21 14.14 26.89 0.00 0.01 4.75 10091.28 2.40 1.05 9.29 6.98 10.49 8.36 8.55 SBI Short Term Debt Fund 54.64 15.97 22.53 0.00 0.12 6.74 4345.30 2.23 0.83 9.35 6.94 10.69 8.38 8.58 Tata Short Term Bond Fund 71.55 4.96 19.15 0.00 0.00 4.34 5000.24 0.00 1.08 9.21 7.04 10.15 7.92 8.35 Taurus Short Term Income Fund 91.06 8.17 0.24 0.00 0.00 0.53 423.45 0.08 1.00 7.48 7.78 8.33 8.29 8.54 UTI Short Term Income Fund - Ret 63.41 9.29 17.22 0.00 8.05 2.03 6386.03 1.77 1.01 9.07 6.43 9.02 7.38 8.16 Debt: Income Funds Birla Sun Life Income Plus 10.16 0.00 87.39 0.00 0.00 2.45 3615.41 8.12 1.86 10.65 2.16 16.97 8.51 7.57 DHFL Pramerica Banking & PSU Debt 81.29 0.00 5.95 0.00 0.00 12.76 1182.26 1.86 0.77 9.90 6.94 10.82 8.40 8.57 DHFL Pramerica Medium Term Income 67.63 0.00 24.94 0.00 0.00 7.43 768.02 4.52 1.03 6.64 6.84 13.67 9.06 9.52 DSP BlackRock Strategic Bond Fund 10.61 0.68 88.34 0.00-0.01 0.38 3109.90 7.22 1.07 10.34 4.90 13.24 8.56 8.58 DSP BlackRock Strategic Bond Fund 10.61 0.68 88.34 0.00-0.01 0.38 3109.90 7.22 1.07 10.34 4.90 13.24 8.56 8.58 HDFC Corporate Debt Opportunities 23.58 12.20 0.00 38.12 19.43 6.67 6802.57 2.46 1.81 8.55 7.12 11.27 9.50 9.57 ICICI Prudential Income Opportunities 95.70 0.00 0.00 0.00 0.00 4.30 3207.24 4.23 0.89 5.20 3.94 12.49 7.67 8.92 ICICI Prudential LTP 29.90 0.00 62.23 0.00 0.00 7.87 822.09 5.73 1.22 12.12 4.79 19.60 10.90 9.92 IDFC D B F (Re-Launched) 19.20 0.00 78.36 0.00 0.00 2.44 6159.56 3.97 1.65 8.52 5.83 10.48 7.60 8.09 IDFC SSIF - Invt Plan 21.60 0.00 75.82 0.00 0.00 2.58 2225.14 3.97 1.84 8.52 5.67 10.24 7.32 7.87 Reliance Corporate Bond Fund 34.83 20.29 0.00 8.48 31.94 4.46 1409.86 3.53 1.67 6.93 6.90 10.45 8.68 8.96 Portfolio Apr 30, 2016 & Return June 07, 2016 *CA : Compound Annualized 9

June 2016 Mutual Fund Performance Update AAA & AA & AA+ Sov. A & A+ Others Cash Corpus Modified Exp. SimpleAnnualized CA* A1 Plus & A1 & A- (Cr.) Duration 7D 1M 3M 6M 1Y Return % Debt: Ultra Short-term Funds Axis Treasury Advantage Fund - Growth 84.46 4.71 0.00 1.96 6.97 1.90 1662.77 0.47 0.56 8.80 7.74 9.14 8.26 8.42 Baroda Pioneer Treasury Advantage A 36.59 35.46 0.00 8.25 4.56 15.14 1506.88 0.65 0.84 8.65 8.54 10.45 9.09 9.03 Birla Sun Life Cash Manager 52.26 27.32 8.47 3.05 2.08 6.82 6952.49 1.02 1.10 8.03 7.70 9.32 8.10 8.10 Birla Sun Life Floating Rate LTP 51.66 17.71 26.41 0.00 0.01 4.21 1668.02 1.08 0.36 9.00 8.47 10.78 8.85 8.93 Birla Sun Life Savings Fund 61.79 11.25 17.00 4.84 2.98 2.14 13230.40 1.02 0.44 9.43 8.65 10.40 9.00 8.90 DHFL Pramerica Low Duration Fund 38.22 12.07 0.00 33.46 7.98 8.27 768.70 0.55 1.21 9.46 8.23 9.43 8.98 9.17 DHFL Pramerica Ultra Short-Term Fund 64.38 11.79 0.00 0.00 14.46 9.37 1712.35 0.30 0.57 8.71 7.98 9.12 8.45 8.62 DSP BlackRock Money Manager 75.13 14.85 3.40 0.00 3.66 2.96 2062.38 0.30 1.00 8.22 7.47 8.23 7.35 7.57 Franklin India Low Duration Fund 27.62 0.53 0.00 46.57 24.09 1.19 1704.62 0.83 0.78 9.99 9.59 10.79 8.44 9.29 Franklin India Ultra Short Bond Retail 35.40 13.78 0.00 26.39 22.69 1.74 4685.88 0.41 0.86 7.94 8.25 9.43 8.73 8.92 HDFC Cash Mgmt - Treasury Advantage 51.95 25.38 8.35 1.29 8.07 4.96 8909.88 1.04 1.36 8.25 7.13 8.97 7.64 7.60 HDFC F R I F - STF - Growth 75.06 13.59 5.72 1.35 1.86 2.42 11054.11 0.87 0.36 9.04 7.72 9.26 8.23 8.38 ICICI Prudential FIP Reg - Growth 74.42 13.80 5.40 0.00 6.72-0.34 15897.45 0.82 0.44 9.53 8.43 9.85 8.58 8.67 ICICI Prudential Savings Fund - Growth 42.49 21.22 14.47 3.12 17.18 1.52 4805.42 0.86 1.38 8.71 8.24 9.51 8.20 8.26 ICICI Prudential Ultra ST Plan 71.42 6.71 22.40 0.00 0.00-0.53 6670.67 1.88 0.65 8.96 7.55 10.89 8.82 8.94 IDFC Money Manager - Invt Plan 90.79 5.48 0.00 0.00 0.00 3.73 1732.78 1.66 0.49 9.23 7.61 10.31 7.89 8.59 IDFC Money Manager - Treasury Plan 78.11 13.04 5.62 0.00 0.00 3.23 1798.81 0.93 0.95 8.67 7.48 9.29 7.80 8.23 IDFC Ultra Short Term Fund 74.86 17.90 6.55 0.00 0.00 0.69 3778.77 1.07 0.59 9.38 8.01 9.75 8.41 8.56 JM Floater Long Term Fund 77.31 12.94 0.00 0.00 0.00 9.75 154.07 0.08 0.60 8.60 7.97 8.61 8.42 8.74 JM Money Manager Fund - Super Plus Plan 82.54 4.44 2.14 0.00 0.00 10.88 1045.15 0.96 0.50 9.32 7.82 9.68 8.40 8.27 JPMorgan India Treasury Fund - Ret 62.59 0.00 3.28 0.00 0.00 34.13 154.45 0.09 0.00 6.50 6.90 7.80 7.54-1.89 Religare Invesco Credit Opportunities Fund 91.02 4.14 0.00 0.00 1.76 3.08 2404.52 0.08 0.65 7.71 7.83 8.30 8.13 8.39 Religare Invesco Ultra Short Term Fund 78.45 14.84 0.00 0.00 1.73 4.98 2040.81 0.67 0.80 8.75 8.18 9.15 8.11 8.25 Kotak Treasury Advantage Fund 88.88 7.65 0.00 0.00 3.05 0.42 4748.90 0.53 0.73 9.03 8.10 8.89 7.86 8.26 L&T Ultra Short Term Fund 93.71 4.30 0.00 0.00 0.00 1.99 2373.81 0.00 0.53 9.67 7.99 9.50 8.35 8.37 LIC Nomura MF Savings Plus Fund 58.50 28.93 0.00 0.00 3.43 9.14 1136.04 0.49 1.29 8.46 7.21 8.70 7.76 7.78 Principal low Duration Fund 56.76 25.82 0.98 3.55 7.33 5.56 285.67 0.56 0.77 7.66 8.28 9.81 8.58 8.38 Reliance Money Manager Fund 77.48 11.62 1.73 2.43 4.50 2.24 13971.09 0.75 0.52 8.79 8.07 9.46 8.32 8.37 SBI Ultra Short Term Debt Fund - Growth 73.97 14.76 4.06 0.00 3.32 3.89 9399.16 0.60 0.41 8.57 7.68 9.30 8.28 8.38 Sundaram Ultra Short Term 72.20 7.75 0.00 0.00 3.42 16.63 2076.25 0.00 0.91 8.86 7.55 9.08 8.07 7.96 Tata Floater Fund 84.15 12.29 0.00 0.00 0.00 3.56 3237.44 0.00 0.38 8.57 7.95 9.32 8.20 8.36 Taurus Ultra Short Term Bond Fund - Ret 87.81 0.00 1.02 0.00 0.00 11.17 98.36 0.07 0.48 6.64 6.93 7.81 7.68 8.04 UTI Floating Rate Fund - STP 57.11 21.54 0.00 0.00 18.33 3.02 4443.88 0.93 0.95 8.94 8.12 10.15 8.63 8.58 UTI Treasury Advantage Fund 73.38 10.79 0.00 0.00 13.21 2.62 11156.84 0.55 0.23 8.04 7.66 9.18 8.04 8.09 Debt: Liquid Funds Axis Liquid Fund 77.26 1.45 6.71 0.00 9.64 4.94 11134.43 0.08 0.12 7.56 7.70 8.30 8.02 8.08 Birla Sun Life Cash Plus 78.52 4.10 0.09 0.00 18.95-1.66 30296.87 0.11 0.17 7.76 7.78 8.60 8.18 8.16 DHFL Pramerica Insta Cash Plus 78.07 0.07 4.83 0.00 17.31-0.28 6905.11 0.10 0.14 7.81 7.83 8.41 8.15 8.19 DSP BlackRock Liquidity Fund 79.39 2.51 1.85 0.00 8.99 7.26 6161.50 0.07 0.25 7.36 7.51 8.18 7.90 7.92 Franklin India TMA 91.07 0.00 0.00 6.37 1.51 1.05 2629.05 0.07 0.86 7.13 7.10 7.70 7.41 7.52 HDFC Cash Mgmt Fund - Savings Plan 86.65 0.00 4.79 0.00 9.24-0.68 9190.83 0.08 0.41 7.50 7.59 8.21 7.92 7.96 HDFC Liquid Fund 84.19 1.11 5.30 0.00 11.19-1.79 34190.35 0.09 0.22 7.60 7.70 8.32 8.04 8.09 ICICI Prudential Liquid 101.84 0.81 1.05 0.00 8.03-11.73 31061.38 0.10 0.15 7.75 7.77 8.39 8.07 8.09 ICICI Prudential Money Market 95.48 0.00 0.00 0.00 11.85-7.33 11365.64 0.09 0.21 7.76 7.77 8.39 8.08 8.11 IDFC Cash Fund 88.23 0.95 11.51 0.00 10.45-11.14 11012.43 0.10 0.13 7.55 7.66 8.33 8.01 8.07 Invesco India Liquid Fund 101.24 0.00 0.00 0.00 8.28-9.52 4889.45 0.11 0.10 7.66 7.77 8.34 8.04 8.12 Kotak Floater - ST 93.54 0.00 0.00 0.00 4.22 2.24 7976.43 0.12 0.29 7.72 7.76 8.41 8.11 8.17 Kotak Liquid Scheme - Plan A 99.39 0.00 0.00 0.00 0.00 0.61 8290.32 0.10 0.11 7.49 7.67 8.35 8.04 8.08 L&T Liquid Fund 99.87 0.00 0.00 0.00 2.49-2.36 8054.78 0.00 0.15 7.61 7.71 8.34 8.04 8.09 LIC MF Liquid Fund 93.77 0.00 0.00 0.00 2.49 3.74 8002.79 0.06 0.21 7.66 7.71 8.27 8.00 8.07 Reliance Liquid Fund - TP 87.06 0.45 0.00 0.00 9.85 2.64 25384.82 0.09 0.18 7.65 7.75 8.37 8.06 8.09 SBI Premier Liquid Fund 87.22 0.13 8.21 0.00 11.97-7.53 31111.13 0.09 0.28 7.53 7.71 8.45 8.07 8.08 UTI-Liquid Cash Plan 85.56 0.00 5.05 0.00 10.96-1.57 16894.93 0.00 0.10 6.71 7.13 7.91 7.49 7.42 Portfolio Apr 30, 2016 & Return June 07, 2016 *CA : Compound Annualized 10