Monthly Market Update by JM Financial Mutual Fund Market Update - Equity Economy GDP for 2Q FY 13 came in line with consensus expectations of 5.3% led by a pick-up in Services sector. Meanwhile, IIP for the month of September was -0.4%, much below the expectation of 2.9%. This came in the wake of strong Purchasing Managers Index (PMI) (52.9 in October v/s. 52.8 in September) and Infra Index (at a 5 month high of 5.1%) readings, earlier in the month. Capital Goods and Consumer Goods, both of which had shown some signs of recovery in the last month contracted, thus impacting the headline numbers negatively. The WPI in the month of October, surprised positively at 7.45% v/s. consensus expectations of 7.9% owing to INR appreciation in the month of September and easing global commodity prices. The core WPI came off to 5.2% v/s. 5.6% earlier. October Consumer Price Index (CPI) however remained almost unchanged at 9.75% v/s. 9.73% last month and the core CPI was only slightly higher at 8.24%. STOCK MarkeT In the month of November, Nifty went up by 4.6%. A kick off to government s dis programme for the fiscal year as well as the much awaited telecom spectrum auctions was seen. The government announcements on Cash transfer of subsidy, tough stand on FDI in retail along with the approval of the Greek assistance package by Eurozone ministers, provided the market enough steam to hit the 52-week high. In the month of November with 9 deals totaling $1.1bn including the QIPs, promoter as well as govt stake sales in the likes of DB Corp, Blue Dart and Hindustan Copper. FIIs continued to be net buyers of another $2bn. The total FII buying YTD stands at $20.6bn. DIIs net selling to the tune of $952mn. This increased the DII YTD net selling to $9bn. Among the DIIs, both Insurance companies and Mutual Funds once again contributed in the selling of $361mn and $591mn, respectively. Market Update - Derivatives The November expiry level of Nifty was around 2% higher than that of October level. Market-wide rollover on the last day of November expiry stood at ~77% which was higher than 73% rollovers seen in the last series. The December series may start with market wide future Open Interest of ~INR 446bn as against ~INR 438bn seen at the start of the November expiry. Nifty rollover on the last day stood at ~72% which was higher than ~63% rollovers seen in the last expiry. Overall rolls were at 75% as against the three-month average of 71%. Telecom stocks saw significantly higher rollover activity (87%) as compared to its three-month average while rolls in Real Estate (81%) & Technology (75%) lagged the average. Volatility in the markets may help to churn the arbitrage portfolio and generate good returns. Source: Bloomberg and JM AMC Research From The Debt Desk Key data and events November 2012 GDP Data: The GDP in Q2 of FY 2012-13 was at 5.30% as compared to 5.5% in the Q1 of FY 2012-13, with major decline in growth from agriculture, forestry & fishing industry. Further, growth from other industries also remained dim except for community, social & personal services industry. WPI Inflation: The provisional inflation for the month of October, 2012 was 7.45% as against 7.81% in the month of Sept 2012. IIP: The provisional Index of Industrial Production (IIP) for the month of Sept 2012 was at -0.4% as against revised IIP of 2.3% in the month of Aug 2012. Forex reserves: The Forex Reserves as on Nov 2012 was at USD 294.98 billion as against USD 295.24 billion as on Oct 2012. Domestic Liquidity: Liquidity remained tight as RBI received average daily bids of around INR 94,000 crores during the month, in the daily LAF repo auction. Fixed Income and Currency data: Indian 10 year government bond: The Government bond yield remained in range bound manner with a lower bias on expectations of OMO purchases by RBI. Towards the month, RBI announced OMO of government bonds worth INR 12,000 crs in view of tight liquidity situation. Indian 5 year corporate Bond yield ended lower by about 4-5 basis points on back of fall in government bond yields. 5-year AAA bond yield ended at 8.95%. 3 Month Certificate of Deposit ended higher at 8.45% in view of tight liquidity and upcoming supply. 12 Month Certificate of Deposit ended higher at 8.75% in view of tight liquidity and upcoming supply. USD/INR: The local currency appreciated by about 1% to end the month at 54.40 as against the US dollar on improvement in global risk aversion Global data: 10 year US bond yield ended lower at 1.62% in the month of November as compared to 1.69% in the previous month. Brent Crude ended higher at $112.01 per barrel in the month of November as against $109.41 in the previous month. Source: RBI WSS & Bloomberg 2
JM Equity Fund (An Open-Ended ) by sector : To provide optimum capital growth and appreciation. : Sanjay Chhabaria ( M a n a g i n g t h i s f u n d s i n ce December, 2007 & more than 12 yrs of experience in fund management & equity research) Inception @ : 1st April, 1995 NAV DETAILS : Option (Rs.) : 35.7079 Option (Rs.) : 14.5350 CORPUS (July 12 - Sept 12) Turnover Ratio : 0.0526 Issuer : Qtly - AAUM (Rs.) : 42.57 Crores % to NAV Housing Development 8.28 ICICI Bank 8.14 Larsen & Toubro 7.59 Reliance Industries 7.34 HDFC Bank 6.95 ITC 6.69 Grasim Industries 4.99 Infosys 4.37 Maruti Udyog 4.19 Tata Motors 3.95 Associated Cement Companies 3.71 Bharti Airtel 3.33 Mahindra & Mahindra 3.09 Tata Consultancy Service 2.97 LIC Housing 2.84 Dr Reddy's Lab 2.44 Bajaj 2.39 Bharat Heavy Electricals 2.22 State Bank Of India 2.04 National Thermal Power Corporation 2.00 Equity less than 2% of corpus 9.83 Total Equity Holdings 99.35 0.65 Banks Cement Consumer Non Durable Construction Project Software Petroleum Products Telecom-Services Power Pharmaceuticals Industrial Capital Goods Mineral/Mining Non Ferrous Metals Ferrous Metals Total Equity: 99.35% 1.42% 0.99% 0.98% 2.44% 2.22% 3.33% 3.27% 7.59% 7.34% 7.34% 8.70% 8.42% 12.55% 13.63% 19.11% RISK REPORT Name Beta Sharpe Std. Dev. JM Equity Fund - Option 1.07 (0.35) 20.02 Source: Mutual Funds India Explorer Note: Standard Deviation & Sharpe are calculated on Annualised basis using 3 years history of monthly returns (using daily frequency). Risk Free rate assumed to be 8.18% (91 day Treasury Bill yield as on Nov 30, 2012) for calculation of Sharpe Ratio. JM Basic Fund (An Open-Ended Sector ) : To provide capital appreciation to its Unitholders through judicious deployment of the corpus of the in sectors categorized under basic industry in the normal parlance and in context of the Indian economy, including but not limited to, energy, petrochemicals, oil & gas, power generation & distribution and electrical equipment suppliers, metals and building material. The fund would continue to remain open-ended with a sector focus. : Asit Bhandarkar (Managing this fund since December, 2006 & total 9 yrs of experience in fund management & equity research). Inception @ : 2nd June, 1997 NAV DETAILS : Option (Rs.) : 13.8852 Option (Rs.) : 9.6954 CORPUS (July 12 - Sept 12) Turnover Ratio : Qtly - AAUM (Rs.) : 203.65 Crores : 0.0757 Issuer % to NAV Larsen & Toubro 8.61 ICICI Bank 8.10 Housing Development 7.26 Tata Motors 5.99 Associated Cement Companies 4.66 HDFC Bank 4.14 Maruti Udyog 4.08 L&T Holdings 3.54 Mahindra & Mahindra 3.29 Jai Prakash Associates 3.20 Infrastructure Development Company 3.14 Thermax 3.04 AXIS Bank 2.96 JSW Steel 2.94 Bajaj 2.84 Mahindra & Mahindra Financial Services 2.74 Bharti Airtel 2.60 State Bank Of India 2.58 Exide Industries 2.39 Power Corporation 2.38 LIC Housing 2.36 Crompton Greaves 2.26 Cairn India 2.06 Equity less than 2% of corpus 12.82 Total Equity Holdings 99.98 0.02 by sector Banks Industrial Capital Goods Construction Project Construction Cement Ferrous Metals Telecom-Services Ancillaries Oil Non Ferrous Metals Petroleum Products Pharmaceuticals Industrial Products Consumer Non Durable Total Equity: 99.88% 0.52% 0.35% 2.06% 1.79% 1.72% 1.49% 2.60% 2.39% 4.65% 4.27% 5.16% 8.95% 8.61% 16.20% 17.78% 21.42% RISK REPORT Name Beta Sharpe Std. Dev. JM Basic Fund - Option 1.27 (0.52) 25.29 Source: Mutual Funds India Explorer Note: Standard Deviation & Sharpe are calculated on Annualised basis using 3 years history of monthly returns (using daily frequency). Risk Free rate assumed to be 8.18% (91 day Treasury Bill yield as on Nov 30, 2012) for calculation of Sharpe Ratio. JM Multi Strategy Fund (An Open-Ended Equity Oriented ) : To provide capital appreciation by investing in equity and equity related securities using a combination of strategies. : Sanjay Chhabaria (Managing this fund since February, 2009 & more than 12 years of experience in fund management & equity research). Inception @ : 23rd September, 2008 NAV DETAILS : Option (Rs.) : 13.2911 Option (Rs.) : 12.3614 CORPUS (July 12 - Sept 12) Turnover Ratio : Qtly - AAUM (Rs.) : 196.35 Crores : 0.0382 Issuer % to NAV ICICI Bank 9.71 Larsen & Toubro 9.41 Housing Development 8.91 Infosys 5.32 Maruti Udyog 4.87 Associated Cement Companies 4.59 Mahindra & Mahindra Financial Services 4.41 HDFC Bank 4.39 Reliance Industries 4.26 Tata Motors 4.08 Infrastructure Development Company 3.84 Bajaj 3.40 Eicher Motors 3.19 Bharti Airtel 3.13 Mahindra & Mahindra 2.79 Hindalco Industries 2.62 Punjab National Bank 2.60 LIC Housing 2.56 Bharat Heavy Electricals 2.48 Dr Reddy's Lab 2.31 Nestle India 2.09 Equity less than 2% of corpus 8.89 Total Equity Holdings 99.85 0.15 3
by sector 4 Banks Construction Project Software Cement Petroleum Products Industrial Capital Goods Pharmaceuticals Telecom-Services Non Ferrous Metals Consumer Non Durable Ancillaries Construction Ferrous Metals Total Equity: 99.85% 0.19% RISK REPORT Name Beta Sharpe Std. Dev. JM Multi Strategy Fund - 1.12 (0.45) 21.44 Option Source: Mutual Funds India Explorer Note: Standard Deviation & Sharpe are calculated on Annualised basis using 3 years history of monthly returns (using daily frequency). Risk Free rate assumed to be 8.18% (91 day Treasury Bill yield as on Nov 30, 2012) for calculation of Sharpe Ratio. JM Tax Gain Fund (An Open-Ended Equity Linked Savings ) : To generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities and to enable investors a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. However, there can be no assurance that the objective of the scheme will be achieved. : Sanjay Chhabaria: (Managing this fund since October 2010 & more than 12 yrs of experience in fund management & equity research). Inception @ : 31st March, 2008 NAV DETAILS : Option (Rs.) : 7.0157 Option (Rs.) : 7.0157 CORPUS (July 12 - Sept 12) : Qtly - AAUM (Rs.) : 36.87 Crores Turnover : 0.0291 Ratio 2.29% 1.90% 1.82% 3.27% 3.13% 2.62% 4.26% 3.66% 5.32% 4.59% Issuer % to NAV Housing Development 9.65 Eicher Motors 7.71 ICICI Bank 7.61 Larsen & Toubro 7.29 HDFC Bank 7.00 Grasim Industries 5.89 Maruti Udyog 4.91 Reliance Industries 4.73 Mahindra & Mahindra Financial Services 4.60 Divi'S Laboratories 4.42 Associated Cement Companies 4.11 Mahindra & Mahindra 3.98 Crompton Greaves 3.84 Tata Motors 3.53 Infrastructure Development Company 3.47 Thermax 3.26 Bajaj 3.02 Jai Prakash Associates 2.83 Sundaram 2.76 9.41% 18.33% 17.63% 21.41% SKF India 2.66 Equity less than 2% of corpus 2.52 Total Equity Holdings 99.79 0.21 by sector RISK REPORT Name Beta Sharpe Std. Dev. JM Tax Gain Fund - Option 1.06 (0.28) 20.58 Source: Mutual Funds India Explorer Note: Standard Deviation & Sharpe are calculated on Annualised basis using 3 years history of monthly returns (using daily frequency). Risk Free rate assumed to be 8.18% (91 day Treasury Bill yield as on Nov 30, 2012) for calculation of Sharpe Ratio. JM Balanced Fund (An Open-Ended Balanced ) : To provide steady current income as well as long term growth of capital. : Sanjay Chhabaria (Managing this fund since February, 2008 & more than 12 years of experience in fund management & equity research). Inception @ : 1st April, 1995 NAV DETAILS : Option (Rs.) : 24.3696 Option (Rs.) : 17.3816 CORPUS (July 12 - Sept 12) : Qtly - AAUM (Rs.) : 7.56 Crores Turnover : 0.0296 Ratio Banks Cement Construction Project Industrial Capital Goods Petroleum Products Pharmaceuticals Construction Industrial Products Total Equity: 99.79% 2.66% 4.73% 4.42% 3.41% 7.29% 7.09% 11.96% 14.61% 20.48% 23.15% Issuer % to NAV Larsen & Toubro 8.44 ICICI Bank 8.19 Eicher Motors 7.69 Associated Cement Companies 7.50 Housing Development 6.52 Maruti Udyog 6.33 HDFC Bank 5.77 Mahindra & Mahindra Financial 4.99 Services Sun Pharmaceuticals Industries 4.40 State Bank Of India 4.12 ITC 3.95 Punjab National Bank 3.89 Thermax 3.20 Equity less than 2% of corpus 1.30 Total Equity Holdings 76.29 23.71 by sector Banks Construction Project Cement Pharmaceuticals Consumer Non Durable Industrial Capital Goods Oil Petroleum Products Total Equity: 76.29% JM Core 11 Fund (An Open-Ended equity oriented scheme) : To provide long-term growth by i nve s t i n g p re d o m i n a ntly i n a concentrated portfolio of equity / equity related instruments : Asit Bhandarkar (Managing this fund since February, 2009 & total 9 yrs of experience in fund management & equity research). Inception @ : 5th March, 2008 NAV DETAILS : Option (Rs.) : 3.7172 Option (Rs.) : 3.7172 CORPUS (July 12 - Sept 12) Turnover Ratio 1.25% 0.04% 3.95% 3.20% 4.40% : Qtly - AAUM (Rs.) : 53.16 Crores : 0.0071 Issuer % to NAV Infrastructure Development Company 10.17 $ Infosys 10.10 $ Larsen & Toubro 9.86 Bajaj 9.45 Maruti Udyog 9.33 Power Corporation 9.24 Tata Motors 9.19 Yes Bank 8.25 Dr Reddy's Lab 8.01 ICICI Bank 7.94 Tata Iron & Steel 6.12 Total Equity Holdings 97.66 2.34 $ increase over 10% on account of market movements/change in net assets of the scheme. by sector Banks Software Construction Project Pharmaceuticals Ferrous Metals Total Equity: 97.66% 6.12% 8.44% 7.50% 8.01% 10.11% 9.86% 11.52% 14.03% 16.19% 19.40% 21.97% 27.97%
RISK REPORT Name Beta Sharpe Std. Dev. JM Core 11 Fund - Option 1.41 (0.28) 28.02 Source: Mutual Funds India Explorer Note: Standard Deviation & Sharpe are calculated on Annualised basis using 3 years history of monthly returns (using daily frequency). Risk Free rate assumed to be 8.18% (91 day Treasury Bill yield as on Nov 30, 2012) for calculation of Sharpe Ratio. JM MIP Fund (An Open-Ended Monthly Income Fund with no assured return. Monthly Income is not assured and is subject to the availability of the distributable surplus.) : To generate regular income, primarily through s in fixed income securities so as to make monthly, quarterly and annual dividend distribution, declare bonus in the growth option. The Fund would also aim to achieve capital appreciation through investing a portion of its assets in equity and equity related securities. : Shalini Tibrewala (Managing this fund since September, 2003 & over 14 years of experience in fund management & financial services sector). Inception @ : 18th September, 2003 NAV DETAILS : Option (Rs.) : 17.2977 Option - Monthly (Rs.): 10.6189 Option - Quarterly (Rs.): 13.0339 Option - Annual (Rs.): 13.8962 CORPUS (July 12 - : Qtly - AAUM (Rs.) : 5.55 Crores Sept 12) Associated Cement Companies 3.70 Cairn India 2.00 HDFC Bank 4.96 Larsen & Toubro 5.32 Total Equity Holdings 15.98 Money Market Instruments 18.63 Commercial Paper Religare Finvest 18.63 ICRA A1+ Corporate Debt 3.18 Britannia Industries 3.18 CRISIL AAA Total Debt Holdings 21.81 62.21 by sector Money Market Instruments Larsen & Toubro HDFC Bank Associated Cement Companies Corporate Debt Cairn India 5.32% 4.96% 3.70% 3.18% 2.00% 18.63% 62.21% Kindly Refer Page No. 10 statistics Current Yield 8.21% Duration 0.0297 years Average Maturity 0.0298 years JM Arbitrage Advantage Fund (An Open-Ended Equity Oriented Interval ) : To generate income through arbitrage opportunities emerging out of mispricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments. : Chaitanya Choksi (Managing this fund since Feb 1, 2011 and has around 10 years of work experience in the field of equity research and capital markets.) Inception @ : 18th July, 2006 NAV DETAILS : Option (Rs.) : 10.5387 Option (Rs.) : 15.8659 CORPUS (July 12 - Sept 12) : Qtly - AAUM (Rs.) : 24.03 Crores Turnover : 0.2005 Ratio Issuer Market Value (Rs. In Lacs) % to NAV Market Value (Rs. In Lacs) Futures Ancillaries 98.14 4.41 (98.60) Apollo Tyre 98.14 4.41 Apollo Tyre - Futures (98.60) Banks 354.68 15.93 (357.83) Indian Overseas Bank 15.67 0.70 Indian Overseas Bank - Futures (15.82) Karnataka Bank 112.19 5.04 Karnataka Bank - Futures (113.15) Punjab National Bank 178.56 8.02 Punjab National Bank - Futures (180.12) UCO Bank 48.26 2.17 UCO Bank - Futures (48.74) Cement 184.82 8.30 (186.41) Grasim Industries 184.82 8.30 Grasim Industries - Futures (186.41) Consumer Non Durable 66.38 2.98 (66.86) Tata Tea 66.38 2.98 Tata Tea - Futures (66.86) 237.62 10.67 (239.04) Housing Development 134.96 6.06 Housing Development (135.39) - Futures IFCI 102.66 4.61 IFCI - Futures (103.65) Gas 63.80 2.86 (64.48) Indraprastha Gas 63.80 2.86 Indraprastha Gas - Futures (64.48) Hotels 22.54 1.01 (22.77) Indian Hotels Co 22.54 1.01 Indian Hotels Co - Futures (22.77) Pesticides 141.36 6.35 (142.98) United Phosphorous 141.36 6.35 United Phosphorous - Futures (142.98) Power 177.32 7.96 (179.10) National Hydroelec Power 125.55 5.64 Corporation National Hydroelec Power (126.90) Corporation - Futures PTC India 51.77 2.32 PTC India - Futures (52.20) Retailing 219.13 9.84 (221.00) Pantaloon Retail (India) 219.13 9.84 Pantaloon Retail (India) - (221.00) Futures Software 43.64 1.96 (43.87) I-Flex Solutions 43.64 1.96 I-Flex Solutions - Futures (43.87) Total Equity Holdings 1609.43 72.27 (1622.94) Fixed Deposit 500.00 22.45 HDFC Bank 100.00 4.49 Yes Bank 400.00 17.96 Total Debt Holdings 500.00 22.45 117.51 5.28 Total Assets 2226.94 100.00 Note: Nifty Futures that are sold is a complete hedge against the purchase of Nifty Basket. by sector Banks Retailing Cement Power Pesticides Ancillaries Consumer Non Durable Gas Software Hotels Total Equity: 72.27% 1.01% 1.96% 2.98% 2.86% 4.41% 6.35% 8.30% 7.96% 9.84% 10.67% 15.93% Although classified under Equity category, Risk ratios are not calculated for JM Arbitrage Advantage Fund as the scheme is benchmarked to CLFI. 5
JM High Liquidity Fund (An Open - Ended Liquid ) Fund Manager 6 : To provide income by way of dividend (dividend plans) and capital gains (growth plan) through investing in debt and money market instruments. : Shalini Tibrewala (Managing this fund since December, 1997 & over 14 years of experience in fund management & financial services sector). Inception @ : Option: 31st December, 1997 Weekly Option: 31st December, 1997 Daily Option: 2nd July, 2001 Quarterly Option.: 23rd Sept, 2003 Bonus Option: 17th August, 2002 Institutional Plan - : 4th April, 2003 Institutional Plan - WDO: 4th April, 2003 Institutional Plan - DDO: 28th July, 2003 Super Institutional Plan - :19th May, 2004. Super Institutional Plan - DDO:19th May, 2004. Super Institutional Plan - WDO: 19th May, 2004. NAV DETAILS : Option (Rs.): 31.0893 Weekly Option (Rs.): 11.0111 Daily Option (Rs.): 10.4302 Bonus Option (Rs.): 16.3261 Quarterly Option (Rs.): 17.5968 Institutional Plan Option (Rs.): 18.7811 Weekly Option (Rs.): 10.7632 Daily Option (Rs.): 10.0159 Super Institutional Plan Option (Rs.): 17.8800 Weekly Option (Rs.): 10.1572 Daily Option (Rs.): 10.0165 CORPUS (July 12 - Sept 12) : Qtly - AAUM (Rs.) : 3195.61 Crores Money Market Instruments 86.43 Certificate of Deposits Axis Bank 2.02 CRISIL A1+ Bank of Maharashtra 3.99 CRISIL A1+ Canara Bank 1.51 CRISIL A1+ ICICI Bank 3.02 ICRA A1+ IDBI Bank 4.01 CRISIL A1+ Indian Overseas Bank 1.01 ICRA A1+ Indusind Bank 2.00 CRISIL A1+ ING Vysya Bank 1.98 CRISIL A1+ Oriental Bank of Commerce 2.99 CRISIL A1+ Punjab National Bank 2.52 CARE A1+ State Bank of Travancore 1.01 CRISIL A1+ State Bank of Hyderabad 1.01 ICRA A1+ State Bank of Mysore 5.04 ICRA A1+ State Bank of Patiala 2.01 ICRA A1+ Syndicate Bank 1.51 CARE A1+ Union Bank of India 2.00 CRISIL A1+ Vijaya Bank 2.01 CARE A1+ Commercial Paper Berger Paints India 3.33 CRISIL A1+ Blue Star 0.91 CARE A1+ Century Textiles & Industries 6.00 CARE A1+ Cholamandalam & 1.51 ICRA A1+ Co. Deepak Fertilisers & Petrochemical 1.01 CARE A1+ Corp. Dewan Housing Corporation 1.00 CRISIL A1+ First Blue Home 0.50 CRISIL A1+ Godrej & Boyce Mfg. Co. 0.81 CRISIL A1+ HCL Infosystems 0.99 ICRA A1+ India Infoline 4.01 ICRA A1+ Indian Oil Corporation 0.50 ICRA A1+ Jindal Saw 2.01 ICRA A1+ Jindal Steel & Power 6.01 ICRA A1+ National Housing Bank 2.62 ICRA A1+ Nirma 3.01 CRISIL A1+ Orient Paper & Industries 0.50 ICRA A1+ Redington India 1.51 ICRA A1+ Reliance Capital 1.01 CRISIL A1+ Religare Finvest 2.00 ICRA A1+ Srei Equipment 1.01 ICRA A1+ Sterlite Energy 1.01 CRISIL A1+ (SO) Sundaram BNP Paribas Home 1.01 CRISIL A1+ Tata Teleservices 2.51 CARE A1+ Vardhman Textiles 2.01 CRISIL A1+ Treasury Bills 0.08 91Days T-Bill 0.08 GOI SOV Total Debt Holdings 86.51 13.49 Money Market Instruments Treasury Bills Kindly Refer Page No. 10 statistics Current Yield 8.56% Duration 0.0718 years Average Maturity 0.0718 years JM Money Manager Fund - Regular Plan (An Open - Ended Debt ) : To generate stable long term returns with low risk strategy and capital appreciation/accretion through s in debt instruments and related securities besides preservation of capital. : Vikas Agrawal (Managing this fund since July, 2011 & has total 9 years of experience in fixed income market). Inception @ : Regular Plan - : 27th Sept, 2006 Regular Plan - DDO: 27th Sept, 2006 Regular Plan - WDO: 26th July, 2007 Regular Plan - FDO: 26th Sept, 2008 NAV DETAILS : Regular Plan - Option (Rs.) : 15.8289 Daily Option (Rs.) : 10.0350 Weekly Option (Rs.) : 10.6162 Fortnightly Option (Rs.) : 10.2587 CORPUS (July 12 - Sept 12) 0.08% 13.49% : Qtly - AAUM (Rs.) : 242.09 Crores 86.43% Money Market Instruments 96.56 Certificate of Deposits Indusind Bank 14.25 CRISIL A1+ ING Vysya Bank 14.18 CRISIL A1+ Commercial Paper Alkem Laboratories 14.18 CRISIL A1+ HSIL 14.18 ICRA A1+ India Infoline 14.15 ICRA A1+ Kindly Refer Page No. 10 National Housing Bank 11.41 ICRA A1+ RHC Holding 14.21 ICRA A1+ (SO) Total Debt Holdings 96.56 3.44 Money Market Instruments statistics Current Yield 9.19% Duration 0.0516 years Average Maturity 0.0516 years JM Money Manager Fund - Super Plan (An Open - Ended Debt ) Larsen & Toubro HDFC Bank Associated Cement Companies Corporate Debt Cairn India 5.32% 4.96% 3.70% 3.18% 2.00% 18.63% 62.21% : To generate stable long term returns with low risk strategy and capital appreciation/ accretion through s in debt instruments and related securities besides preservation of capital. : Vikas Agrawal (Managing this fund since July, 2011 & has total 9 years of experience in fixed income market). Inception @ : Super Plan - : 27th Sept, 2006 Super Plan - DDO: 27th Sept, 2006 Super Plan - WDO: 12th October, 2007 Super Plan - FDO: 2nd April, 2008 NAV DETAILS : Super Plan Option (Rs.) : 16.2835 Daily Option (Rs.) : 10.0090 Weekly Option (Rs.) : 10.6490 Fortnightly Option (Rs.) : 10.3076 CORPUS : Qtly - AAUM (Rs.) : 235.69 Crores (July 12 - Sept 12) Money Market Instruments 84.12 Certificate of Deposits AXIS Bank 11.06 CRISIL A1+ Canara Bank 10.91 CRISIL A1+ Indusind Bank 11.05 CRISIL A1+ Commercial Paper Cholamandalam & 7.03 ICRA A1+ India Infoline 11.07 ICRA A1+ Indian Oil Corporation 11.03 ICRA A1+ RHC Holding 11.11 ICRA A1+ (SO) Tata Teleservices 10.86 CARE A1+ Total Debt Holdings 84.12 15.88
Money Market Instruments Kindly Refer Page No. 10 statistics Current Yield 9.03% Duration 0.1252 years Average Maturity 0.1252 years JM Money Manager Fund - Super Plus Plan (An Open - Ended Debt ) 15.88% 84.12% : To generate stable long term returns with low risk strategy and capital appreciation/ accretion through s in debt instruments and related securities besides preservation of capital. : Shalini Tibrewala (Managing this fund since September, 2006 & has over 14 years of experience in fund management & financial services sector). Inception @ : Super Plus Plan - : 27th Sept, 2006 Super Plus Plan - DDO: 27th Sept, 2006 Super Plus Plan - WDO: 16th July, 2007 Super Plus Plan - FDO: 12th July, 2007 NAV DETAILS : Super Plus Plan - Option (Rs.) : 16.1598 Daily Option (Rs.) : 10.0060 Weekly Option (Rs.) : 10.6452 Fortnightly Option (Rs.) : 10.3590 CORPUS (July 12 - : Qtly - AAUM (Rs.) : 1080.81 Crores Sept 12) Money Market Instruments 98.36 Certificate of Deposits Andhra Bank 8.63 CARE A1+ Bank of Maharashtra 1.32 CRISIL A1+ Canara Bank 6.60 CRISIL A1+ ICICI Bank 6.48 ICRA A1+ Indian Overseas Bank 11.00 ICRA A1+ Punjab National Bank 2.20 CARE A1+ South Indian Bank 4.32 CARE A1+ The Ratnakar Bank 4.35 ICRA A1+ Commercial Paper Alembic Pharmaceuticals 4.37 CRISIL A1+ Alkem Laboratories 8.75 CRISIL A1+ Century Textiles & Industries 4.40 CARE A1+ Ericsson India 2.19 ICRA A1+ India Infoline 11.88 ICRA A1+ Madras Cements 4.40 ICRA A1+ Mahindra & Mahindra Financial Services 2.20 CRISIL A1+ Reliance Capital 6.60 CRISIL A1+ Religare Finvest 4.28 ICRA A1+ RHC Holding 4.39 ICRA A1+ (SO) Corporate Debt 1.15 ICICI Bank 0.27 CARE AAA Rural Electrification Corporation 0.88 CRISIL AAA Treasury Bills 0.18 91Days T-Bill 0.18 GOI SOV Total Debt holdings 99.69 0.31 Money Market Instruments Corporate Debt Treasury Bills Kindly Refer Page No. 10 statistics Current Yield 9.08% Duration 0.0986 years Average Maturity 0.0993 years JM Floater Fund - Long Term Plan (An Open-Ended Income ) : To provide regular income and capital appreciation through in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and also fixed rate instruments and money market instruments. : Shalini Tibrewala (Managing this fund since March, 2006 & has over 14 years of experience in fund management & financial services sector). Inception @ : : 25th June, 2003 : 25th June, 2003 Daily Option: 22nd May, 2007 Weekly Option: 22nd May, 2007 Premium Plan - : 13th October, 2004 Premium Plan - : 13th October, 2004 Premium Plan - DDO: 15th May, 2007 Premium Plan - WDO: 18th May, 2007 NAV DETAILS : Option (Rs.): 17.5273 Option (Rs.): 17.5878 Daily Option (Rs.): 10.0031 Wkly Option (Rs.): 10.5525 CORPUS (July 12 - Sept 12) 0.31% 0.17% 1.15% Premium Plan - Option (Rs.): 16.9202 Option (Rs.): 10.3694 Daily Option (Rs.): 10.0031 Wkly Option (Rs.): 10.5880 : Qtly - AAUM (Rs.) : 1.06 Crores 98.36% 100.00 Kindly Refer Page No. 10 statistics Current Yield 7.25% Duration 0.0027 years Average Maturity 0.0027 years JM Floater Fund - Short Term Plan (An Open-Ended Liquid ) Inception @ : 25th June, 2003 NAV DETAILS CORPUS (July 12 - Sept 12) : To provide regular income and capital appreciation through in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and also fixed rate instruments and money market instruments. : Shalini Tibrewala (Managing this fund since September, 2006 & over 14 years of experience in fund management & financial services sector). : Floater Fund Short Term Plan Option (Rs.) : 17.9400 Daily Option (Rs.) : 10.0883 : Qtly - AAUM (Rs.) : 4.39 Crores 100.00 Kindly Refer Page No. 10 100.00% 100.00% statistics Current Yield 7.25% Duration 0.0027 Years Avg. Maturity 0.0027 Years 7
JM Short Term Fund (An Open-Ended Income ) : To generate regular returns and high level of liquidity with low risk strategy and capital appreciation / accretion through in debt instruments and related securities besides preservation of capital. : Girish Hisaria (Managing this fund since July 2009 & has total 7 years of experience in Fixed Income Markets). Inception @ : Regular Plan - : 24th June, 2002 Regular Plan - : 24th June, 2002 Regular Plan - DDO: 31st March, 2011 : 4th April, 2003 : 4th April, 2003 Daily Option: 6th April, 2011 NAV DETAILS : option (Rs.): 16.3132 option (Rs.): 10.5830 Daily option (Rs.): 10.0455 Regular Plan - option (Rs.): 22.4710 option (Rs.): 11.6562 Daily option (Rs.): 10.0374 CORPUS (July 12 - Sept 12) : Qtly - AAUM (Rs.) : 181.29 Crores Money Market Instruments 63.64 Certificate of Deposits Corporation Bank 10.07 CRISIL A1+ Punjab National Bank 10.08 CARE A1+ Commercial Paper Cholamandalam & Co. 3.66 ICRA A1+ India Infoline 5.33 ICRA A1+ Power Corporation 9.82 CRISIL A1+ RHC Holding 10.28 ICRA A1+ (SO) Vodafone India 14.40 CRISIL A1+ Government Securities 1.23 8.20% GOI 2025 1.23 GOI SOV Corporate Debt 26.47 Bajaj 4.13 ICRA AA+ Rural Electrification Corporation 1.67 CRISIL AAA Sundaram BNP Paribas Home 4.12 CARE AA+ Hindalco Industries 2.08 CRISIL AA+ Power Corporation 2.06 CRISIL AAA Reliance Gas Transportation & Infrastructure 2.10 CRISIL AAA Rural Electrification Corporation 8.25 CRISIL AAA Shriram Transport Company 2.07 CARE AA+ Treasury Bills 0.82 91Days T-Bill 0.82 GOI SOV Total Debt Holdings 92.16 7.84 Money Market Instruments Corporate Debt Government Securities Treasury Bills 1.23% 0.82% 7.84% 26.47% 63.64% statistics Current Yield 9.14% Duration 1.0873 Years Avg. Maturity 1.3708 Years JM Income Fund (An Open-Ended Income ) : To generate stable long term returns with low risk strategy and capital appreciation / accretion through in debt instruments and related securities besides preservation of capital. : Girish Hisaria (Managing this fund since July 2009 & has total 7 years of experience in Fixed Income Markets). Inception @ : Option: 1st April, 1995 Option: 1st April, 1995 Bonus Option: 18th March, 2002 NAV DETAILS : Option (Rs.) : 33.7205 Option (Rs.) : 11.9301 Bonus Option (Rs.) : 13.7953 CORPUS (July 12 - Sept 12) : Qtly - AAUM (Rs.) : 9.87 Crores Money Market Instruments 45.44 Certificate of Deposits AXIS Bank 10.22 CRISIL A1+ Canara Bank 4.86 CRISIL A1+ Vijaya Bank 10.22 CARE A1+ Yes Bank 10.22 ICRA A1+ Commercial Paper India Infoline 9.92 ICRA A1+ Government Securities 39.92 8.15% GOI 2022 39.92 GOI SOV Corporate Debt 10.09 Rural Electrification Corporation 10.09 CRISIL AAA Total Debt Holdings 95.45 4.55 Money Market Instruments Government Securities Corporate Debt 4.55% 10.09% 39.92% 45.44% statistics Current Yield 8.64% Duration 3.1888 Years Avg. Maturity 4.4780 Years JM G-Sec Fund (An Open-Ended Dedicated Gilt ) : To provide ultimate level of safety to its unitholders through s in sovereign securities issued by the Central and State Government. : Girish Hisaria (Managing this fund since July 2009 & has total 7 years of experience in Fixed Income Markets). Inception @ : Regular Plan - Option : 29th September, 1999 Regular Plan - Option : 29th September, 1999 Regular Plan - Bonus Option : 30th November, 2002 NAV DETAILS : Regular Plan - Option (Rs.) : 36.1029 Option (Rs.) : 16.9596 Bonus Option (Rs.) : 17.5571 CORPUS (July 12 - : Qtly - AAUM (Rs.) : 20.20 Crores Sept 12) Government Securities 84.57 8.15% GOI 2022 4.66 GOI SOV 8.20% GOI 2025 55.63 GOI SOV 8.83% GOI 2041 24.28 GOI SOV Treasury Bills 9.24 91Days T-Bill 9.24 GOI SOV Total Debt Holdings 93.81 6.19 Government Securities Treasury Bills 6.20% 9.24% 84.57% statistics Current Yield 8.17% Duration 7.0362 Years Avg. Maturity 13.9516 Years 8 (*) Others may include net receivables / payables, cash, cash equivalents, stocks in transition and other instruments such as warrants, convertibles etc.
ANNEXURE FOR RETURNS OF ALL THE SCHEMES Performance as on September 30, 2012 Name Equity s Funds Managed by Sanjay Chhabaria Sept 30, 2011 to Sept 30, 2012 Sept 30, 2010 to Sept 30, 2011 Sept 30, 2009 to Sept 30, 2010 Since inception till Sept 30, 2012 (CAGR) Inception Date@ JM Balanced Fund 11280 12.80 8470 (15.30) 11234 12.34 69870 11.74 1-Apr-95 Bench Mark Crisil Balanced Fund Index 11372 13.72 8996 (10.04) 11421 14.21 N A N A Crisil 1 Year T Bill* 10811 8.11 10538 5.38 10242 2.42 34102 7.26 S & P Nifty Index* 11538 15.38 8198 (18.02) 11861 18.61 57595 10.52 JM Equity Fund 11245 12.45 7708 (22.92) 11066 10.66 34478 7.33 1-Apr-95 Bench Mark BSE Sensex 11403 14.03 8199 (18.01) 11718 17.18 57537 10.51 S & P Nifty Index* 11538 15.38 8198 (18.02) 11861 18.61 57595 10.52 JM Multi Strategy Fund 11144 11.44 7057 (29.43) 10907 9.07 12695 6.12 23-Sep-08 Bench Mark BSE 500 11285 12.85 7998 (20.02) 12185 21.85 13883 8.51 S & P Nifty Index* 11538 15.38 8198 (18.02) 11861 18.61 13820 8.39 JM Tax Gain Fund 11301 13.01 7398 (26.02) 11979 19.79 6638 (8.71) 31-Mar-08 Bench Mark BSE 500 11285 12.85 7998 (20.02) 12185 21.85 11704 3.56 S & P Nifty Index* 11538 15.38 8198 (18.02) 11861 18.61 12046 4.23 Funds Managed by Asit Bhandarkar JM Basic Fund 11885 18.85 6180 (38.20) 9937 (0.63) 106923 16.71 2-June-97 Bench Mark BSE 200 Index 11377 13.77 8015 (19.85) 12079 20.79 63057 12.76 S & P Nifty Index* 11538 15.38 8198 (18.02) 11861 18.61 53555 11.56 JM Core 11 Fund 11410 14.10 6402 (35.98) 10112 1.12 3565 (20.20) 5-Mar-08 Bench Mark BSE Sensex 11403 14.03 8199 (18.01) 11718 17.18 11342 2.79 S & P Nifty Index* 11538 15.38 8198 (18.02) 11861 18.61 11589 3.28 Funds Managed by Chaitanya Choksi JM Arbitrage Advantage Fund 10957 9.57 10794 7.94 10427 4.27 15684 7.53 18-July-06 Bench Mark Crisil Liquid Fund Index 10865 8.65 10777 7.77 10405 4.05 15194 6.97 S & P Nifty Index # 11538 15.38 8198 (18.02) 11861 18.61 19051 10.95 # performance may not be strictly comparable with that of its Additional Benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities, etc. Performance as on September 30, 2012 Name Debt s Funds Managed by Girish Hisaria Sept 30, 2011 to Sept 30, 2012 Sept 30, 2010 to Sept 30, 2011 Sept 30, 2009 to Sept 30, 2010 Since inception till Sept 30, 2012 (CAGR) Inception Date@ JM Gsec Fund 11350 13.50 10365 3.65 10423 4.23 35773 10.29 29-Sep-99 Bench Mark I Sec Composite Index 11007 10.07 10630 6.30 10565 5.65 N A N A Crisil 10 Year G Sec Paper* 10803 8.03 10320 3.20 10395 3.95 N A N A JM Income Fund 10991 9.91 10470 4.70 10389 3.89 33363 7.12 1-Apr-95 Bench Mark Crisil Composite Bond Fund Index 10953 9.53 10558 5.58 10547 5.47 N A N A Crisil 10 Year G Sec Paper* 10803 8.03 10320 3.20 10395 3.95 N A N A JM Short Term Fund 11023 10.23 10840 8.40 10587 5.87 22165 8.06 24-June-02 Bench Mark Crisil Liquid Fund Index 10867 8.67 10776 7.76 10404 4.04 18413 6.12 Crisil 1 Year T Bill* 10814 8.14 10538 5.38 10241 2.41 17151 5.39 9
ANNEXURE FOR RETURNS OF ALL THE SCHEMES Name Funds Managed by Vikas Agrawal Sept 30, 2011 to Sept 30, 2012 Sept 30, 2010 to Sept 30, 2011 Sept 30, 2009 to Sept 30, 2010 Since inception till Sept 30, 2012 (CAGR) Inception Date@ JM Money Manager Fund Regular Plan 11037 10.37 10920 9.20 10493 4.93 15587 7.67 27-Sep-06 Bench Mark Crisil Liquid Fund Index 10867 8.67 10776 7.76 10404 4.04 15033 7.01 Crisil 1 Year T Bill* 10814 8.14 10538 5.38 10241 2.41 13865 5.58 JM Money Manager Fund Super Plan 11035 10.35 10911 9.11 10581 5.81 16037 8.18 27-Sep-06 Bench Mark Crisil Liquid Fund Index 10867 8.67 10776 7.76 10404 4.04 15033 7.01 Crisil 1 Year T Bill* 10814 8.14 10538 5.38 10241 2.41 13865 5.58 Funds Managed by Shalini Tibrewala JM Floater Fund - Long Term Plan 10807 8.07 10778 7.78 10467 4.67 17311 6.10 25-June-03 Bench Mark Crisil Liquid Fund Index 10867 8.67 10776 7.76 10404 4.04 17442 6.18 Crisil 1 Year T Bill* 10814 8.14 10538 5.38 10241 2.41 16047 5.23 JM MIP Fund 11005 10.05 10231 2.31 10479 4.79 17059 6.09 18-Sep-03 Bench Mark Crisil MIP Blended Index 11038 10.38 10221 2.21 10768 7.68 19513 7.67 S & P Nifty Index* 11371 13.71 8371 (16.29) 11966 19.66 43792 17.76 Crisil 1 Year T Bill* 10814 8.14 10538 5.38 10241 2.41 15826 5.21 JM Money Manager Fund Super Plus Plan 11019 10.35 10853 9.11 10492 5.81 15918 8.18 27-Sep-06 Bench Mark Crisil Liquid Fund Index 10867 8.67 10776 7.76 10404 4.04 15033 7.01 Crisil 1 Year T Bill* 10814 8.14 10538 5.38 10241 2.41 13865 5.58 Performance for Liquid s Name Funds Managed by Shalini Tibrewala Sept 30, 2011 to Sept 30, 2012 Sept 30, 2010 to Sept 30, 2011 Sept 30, 2009 to Sept 30, 2010 Since inception till Sept 30, 2012 (CAGR) Inception Date@ JM High Liquidity Fund 10972 9.72 10847 8.47 10462 4.62 30654 7.89 31-Dec-97 Bench Mark Crisil Liquid Fund Index 10869 8.69 10777 7.77 10405 4.05 N A N A Crisil 1 Year T Bill* 10816 8.16 10538 5.38 10242 2.42 24959 6.39 JM Floater Fund - Short Term Plan 10889 8.89 10719 7.19 10443 4.43 17722 6.36 25-June-03 Bench Mark Crisil Liquid Fund Index 10869 8.69 10777 7.77 10404 4.04 17442 6.18 Crisil 1 Year T Bill* 10816 8.16 10538 5.38 10241 2.41 16047 5.23 Performance for Liquid s Simple Annualised Name 7 Days 15 Days 1 mth 3 mths 6 mths Funds Managed by Shalini Tibrewala Inception Date@ JM High Liquidity Fund 8.35 8.43 8.53 8.93 9.51 31-Dec-97 Bench Mark Crisil Liquid Fund Index 7.54 7.50 7.49 7.74 8.25 Crisil 1 Year T Bill* 8.13 7.96 8.89 8.06 8.30 JM Floater Fund - Short Term Plan 7.48 7.41 7.30 7.43 9.01 25-June-03 Bench Mark Crisil Liquid Fund Index 7.54 7.50 7.49 7.74 8.25 Crisil 1 Year T Bill* 8.13 7.96 8.89 8.06 8.30 *Additional Benchmark @ Inception Date is considered as the date of first time allotment of units. Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other. Absolute returns are computed on s of Rs 10,000. are computed on Compounded Annual Rate (CAGR) basis. Load is not considered for computation of returns. Option has been considered for calculating the performance of the above mentioned schemes. Mutual Fund s are subject to market risks, read all scheme related documents carefully. 10
DIVIDEND HISTORY (for past 3 years) JM Equity Fund FY 2012-13 NIL - FY 2011-12 NIL - FY 2010-11 NIL - The face value per unit is Rs. 10/-. JM Basic Fund FY 2012-13 NIL - FY 2011-12 NIL - FY 2010-11 NIL - The face value per unit is Rs. 10/- JM Balanced Fund Plan FY 2012-13 NIL - FY 2011-12 NIL - FY 2010-11 NIL - The face value per unit is Rs. 10/-. JM Multi Strategy Fund Plan FY 2012-13 NIL - FY 2011-12 NIL - FY 2010-11 NIL - The face value per unit is Rs. 10/-. JM Tax Gain Fund Plan FY 2012-13 NIL - FY 2011-12 NIL - FY 2010-11 NIL - The face value per unit is Rs. 10/-. JM Core 11 Fund Plan FY 2012-13 NIL - FY 2011-12 NIL - FY 2010-11 NIL - The face value per unit is Rs. 10/-. JM MIP Fund JM MIP Fund - Option - Monthly FY 2012-13 $ Oct 12 - Dec 12 0.10 July 12 - Sept 12 0.15 April 12 - June 12 0.15 FY 2011-12 $ Jan 12 - Mar 12 0.10 Oct 11 - Dec 11 0.10 July 11 - Sept 11 0.09 April 11 - June 11 0.15 FY 2010-11 $ Jan 11 - March 11 NIL Oct 10 - Dec 10 0.15 July 10 - Sept 10 0.15 April 10 - June 10 0.15 JM MIP Fund - Option - Quarterly FY 2012-13 $ - - FY 2011-12 $ - - FY 2010-11 $ - - JM MIP Fund - Option - Annual FY 2012-13 $ NIL - FY 2011-12 $ NIL - FY 2010-11 $ NIL - taxes wherever applicable. Past performance may or may not be sustained in future. The face value per unit is Rs. 10/-. $ Includes Distribution Tax. JM Arbitrage Advantage Fund Plan FY 2012-13 September 2012 0.225 June 2012 0.20 FY 2011-12 March 2012 0.200 December 2011 0.160 September 2011 0.160 June 2011 0.175 FY 2010-11 March 2011 0.175 December 2010 0.175 September 2010 0.12 June 2010 0.08 The face value per unit is Rs. 10/- JM High Liquidity Fund Financial Plan Year (Rs. per unit) FY 2012-13 $ Weekly Option 0.6068 Daily Option 0.6320 Quarterly Option - Inst. Plan - Weekly option 0.5981 Inst. Plan - Daily option 0.6119 Super Inst. Plan - Weekly Div. option 0.5689 Super Inst. Plan - Daily Div. option 0.6171 FY 2011-12 $ Regular Plan - Weekly Option 0.8290 Regular Plan - Daily Option 0.9338 Regular Plan - Quarterly Option - Inst. Plan - Weekly option 0.8161 Inst. Plan - Daily option 0.9039 Super Inst. Plan - Weekly Div. option 0.5613 Super Inst. Plan - Daily Div. option 0.9116 FY 2010-11 $ Regular Plan - Weekly Option 0.5849 Regular Plan - Daily Option 0.6665 Regular Plan - Quarterly Option - Inst. Plan - Weekly option 0.5713 Inst. Plan - Daily option 0.6403 Super Inst. Plan - Weekly Div. option 0.2032 Super Inst. Plan - Daily Div. option 0.6400 The face value per unit is Rs.10/-. $ Includes Distribution Tax JM Money Manager Fund Financial Plan Year (Rs. per unit) FY 2012-13 $ Regular Plan - Daily option 0.6241 Regular Plan - Weekly option 0.6182 Regular Plan - Fortnightly option 0.6168 Super Plan - Daily option 0.6546 Super Plan - Weekly option 0.6217 Super Plan - Fortnightly option 0.6242 Super Plus Plan - Daily option 0.6397 Super Plus Plan - Weekly option 0.6128 Super Plus Plan - Fortnightly option 0.6164 FY 2011-12 $ Regular Plan - Daily option 0.9680 Regular Plan - Weekly option 0.8560 Regular Plan - Fortnightly option 0.9048 Super Plan - Daily option 0.9545 Super Plan - Weekly option 0.8455 Super Plan - Fortnightly option 0.8965 Super Plus Plan - Daily option 0.9240 Super Plus Plan - Weekly option 0.8190 Super Plus Plan - Fortnightly option 0.8730 FY 2010-11 $ Regular Plan - Daily option 0.6856 Regular Plan - Weekly option 0.6038 Regular Plan - Fortnightly option 0.6383 Super Plan - Daily option 0.7006 Super Plan - Weekly option 0.6158 Super Plan - Fortnightly option 0.6573 Super Plus Plan - Daily option 0.6251 Super Plus Plan - Weekly option 0.5509 Super Plus Plan - Fortnightly option 0.5877 The face value per unit is Rs.10/-. $ Includes Distribution Tax. JM Floater Fund - LTP Financial Year Plan (Rs. per unit) FY 2012-13 $ option - Daily option 0.4956 Weekly option 0.4709 Premium Plan - option 0.4958 Premium Plan - Weekly option 0.4788 Premium Plan - Daily Option 0.5014 FY 2011-12 $ Regular Plan - option - Regular Plan - Daily option 0.8030 Regular Plan - Weekly option 0.7154 Premium Plan - option 0.7804 Premium Plan - Weekly option 0.7262 Premium Plan - Daily Option 0.8130 FY 2010-11 $ Regular Plan - option - Regular Plan - Daily option 0.5950 Regular Plan - Weekly option 0.5182 Premium Plan - option 0.5665 Premium Plan - Weekly option 0.5284 Premium Plan - Daily Option 0.6052 The face value per unit is Rs. 10/-. $ Includes Distribution Tax. JM Floater Fund - STP Financial Year Plan (Rs. per unit) FY 2012-13 $ Short Term Plan - Daily Option 0.5681 FY 2011-12 $ Short Term Plan - Daily Option 0.7877 FY 2010-11 $ Short Term Plan - Daily Option 0.5733 The face value per unit is Rs.10/-. $ Includes Distribution Tax JM Short Term Fund Financial Year Plan (Rs. per unit) FY 2012-13 $ Regular - Option 0.6853 Option 0.6384 Regular - Daily Option 0.6044 Daily Option 0.6139 FY 2011-12 $ Regular Plan - Option 0.9954 Inst. Plan - Option 0.9295 Regular Plan - Daily Option 0.9314 Inst. Plan - Daily Option 0.9401 FY 2010-11 $ Regular Plan - Option 0.6807 Inst. Plan - Option 0.6516 The face value per unit is Rs. 10/-. $ Includes Distribution Tax. JM Income Fund Option (Rs. per unit) FY 2012-13 $ - FY 2011-12 $ - FY 2010-11 $ - The face value per unit is Rs.10/-. $ Includes Distribution Tax. JM G-Sec Fund Regular Plan - Option (Rs. per unit) FY 2012-13 $ - FY 2011-12 $ - FY 2010-11 $ 0.25 The face value per unit is Rs.10/-. $ Includes Distribution Tax. 11
JM EQUITY SCHEMES AT A GLANCE Introduction of no Entry Load and treatment of Exit Load. In accordance with the requirements specified by the SEBI circular no. SEBI/IMD/CIR No.4/168230/09 dated June 30, 2009, no entry load will be charged for fresh purchase / additional purchase / switch-in transactions accepted by the Fund with effect from August 1, 2009. Similarly, no entry load will be charged with respect to applications for fresh registrations under Systematic Plan/Systematic Transfer Plan accepted by the Fund with effect from August 1, 2009. Also, in compliance with SEBI Circular no. SEBI / IMD / CIR No. 7 /173650 / 2009 dated August 17, 2009, parity among all classes of unit holders in terms of charging exit load shall be made applicable at the portfolio level with effect from August 24, 2009. Load Structure: Entry Load: NIL for all Open-ended Equity s. Exit Load: As mentioned in the table hereunder: Minimum criteria for & Redemption Purchase : As mentioned in the reckoner table for normal transactions other than through SIP/STP. Additional Purchase : Rs. 1,000/- or any amount thereafter in all schemes except JM Tax Gain Fund. Repurchase : Minimum redemption from existing Unit Accounts for normal transactions other than through STP/SWP would be a) Rs. 500 and any amount thereafter OR b) 50 units or any number of units there after subject to keeping a minimum balance of 500 units or Rs. 5000/- whichever is less. c) for all the units in the folio for the respective plan if the available balance is less than Rs. 500/- or less than 50 units on the day of submission of valid redemption request. Reckoner and Default Options In case an investor fails to specify his preference of Options/Sub-Options, in the below mentioned schemes, the default Options/ Sub-Options would be as under : Sr. no. 1 s JM - Arbitrage Advantage Fund Allotment Date Min. amnt. July 18, 2006 Rs. 5000/- 2 JM Balanced Fund April 1, 1995 Rs. 5000/- 3 JM Basic Fund June 2, 1997 Rs. 5000/- 4 JM Core 11 Fund March 5, 2008 Rs. 5000/- 5 JM Equity Fund April 1, 1995 Rs. 5000/- 6 JM Multi Strategy Fund 7 JM Tax Gain Fund September 23, 2008 March 31, 2008 Rs. 5000/- Rs. 500/- or in multiples of Rs. 500/- each EQUITY SCHEMES Currently available facilities Options Sub Options Default Option Payout / Re Payout / Re Payout / Re Payout / Re Payout / Re Payout / Re Payout Default Sub Option Exit Load @@@ Lock-in Periods @@@ Re 0.50% 30 Days Redemption Time# T+3 (*) Business Days Re 1.00% 365 Days T+3 Business Days Re 1.00% 365 Days T+3 Business Days Re 1.00% 365 Days T+3 Business Days Re 1.00% 365 Days T+3 Business Days Re 1.00% 365 Days T+3 Business Days Payout NIL && T+3 Business Days && JM Tax Gain Fund :- The scheme falls in the ELSS category and is eligible for tax benefits under section 80C of Income Tax Act. There is a lock-in period of 3 years under the. # AMC would adhere to the aforesaid service standards for redemption payments on best efforts basis under normal circumstances subject to the overall 10 business days as stipulated by SEBI. *JM - Arbitrage Advantage Fund: The redemption shall be in terms of Interval Period defined hereinbelow. Redemption request can be submitted to the official point of acceptance on any business day till 3.00 pm. All redemption requests received till Friday (in case such Friday is a holiday then the last business day) of the week preceding the interval period, would be processed at the NAV of the Interval Period. The Interval period will be the settlement Thursday (the settlement day for derivatives segment in the NSE which is currently last Thursday of the month) or any day which is declared as the settlement day for Derivatives segment by the NSE. Illustrative Example: Interval Cycle Cut-off for for redemption / switch-out requests Applicable NAV for redemption / switchout For Nov-Dec 2010 All redemptions / switch-out requests received till 24.12.2010 before 3 p.m. NAV of 30.12.2010 For Dec - Jan 2011 All redemptions / switch-out requests received after 3 p.m. on 24.12.2010 till 3.00 pm 21.01.2011 NAV of 27.01.2011 It is clarified that the cut-off timings will also be applicable to s made through sweepmode. @@@ The exit load shown in the above table are applicable for allotment of units for made through fresh purchases/switch-in/shift-in or through respective SIP/STP/SWP Instalments out of the fresh registration effected during the period when above exit load rates are applicable. The exit load are subject to change at any time. Hence, all Investors are advised to check the current exit load from the nearest Investor Service Centers before. Intra & Inter Equity Switches: No exit load for inter and intra equity switches except in case of (i) switches by SIP/STP investors within 24 months (for cases registered from 4.1.2008 up to 2.10.2008) and within 12 months (for cases registered upto 3.1.2008) of respective SIP/STP installments (ii) switches by STP investors (for cases registered w.e.f. 3.10.2008) within 24 months of respective STP installments (iii) switches by SIP investors (for cases registered w.e.f. 3.10.2008) within 12 months of respective SIP installments (iv) switches to / from JM Arbitrage Advantage Fund to any equity schemes. Exit load on intra-scheme redemptions/switch outs:it load on intra-scheme redemptions/switch outs : The applicable exit load, if any, will be charged for redemptions/ switch outs of the scheme (i.e. at portfolio level) before the completion of the stipulated load/lock-in period. The stipulated load/lock-in period will be reckoned from the date of allotment of units for a particular transaction in the scheme (i.e. at portfolio level) till the date of redemption/ switch out from that scheme, irrespective of the number of intra-scheme switches by the investor between the aforementioned two dates (e.g switches between options/sub-options within the scheme having the same portfolio). However, Government levies eg. STT (wherever applicable) will continue to be deducted for every intra-scheme and inter-scheme switch-out/redemption transactions. The above details are subject to provisions laid down in the respective Information Documents and Addenda issued from time to time.
Load Structure: Entry Load: NIL for all Open-ended Debt & Liquid s. Exit Load: As mentioned in the table hereunder: Minimum Amount: Rs. 5000/- and any amount thereafter. Additional Purchase Amount:: Rs. 1000/- and any amount thereafter. Reckoner and Default Options: Sr. no. Type of JM DEBT SCHEMES AT A GLANCE DEBT SCHEMES Plan(s) / Option(s) available for fresh subscription s Plan Options Sub Options 1 Liquid JM High Liquidity Fund - 2 Liquid 3 Debt JM Floater Fund - Short Term Plan JM Money Manager Fund - Regular Plan Super Plan Super Plus Plan 4 Income JM Short Term Fund - 5 Gilt JM G Sec Fund Regular Plan 6 Income JM Income Fund - 7 Income JM Floater Fund - Long Term Plan 8 Income JM MIP Fund - - Daily Weekly Quarterly Bonus Daily Daily Weekly Fortnightly Daily Weekly Fortnightly Daily Weekly Fortnightly Daily Bonus Bonus Daily Weekly Option - Monthly Option - Quarterly Option - Annual Re Payout*/ Re Payout*/ Re Principal Units Re Re Re Re Payout*/ Re Re Payout*/ Re Principal Units Payout*/ Re Principal Units Re Payout*/ Re Payout*/ Re Capital Appreciation Withdrawal Fixed Amount Withdrawal - - Default Plan Super Plus Plan Super Plus Plan Super Plus Plan Default Option Daily Daily Daily Daily Daily - - - - - Daily Monthly Default Sub- Option Re Exit Load @@@ NIL Lock-in Periods @@@ NIL Re NIL NIL Re Re Re Re Re Re Re 0.25% 45 Days 0.10% 30 Days NIL NIL 0.25% 30 Days NIL NIL 1.00% 365 Days NIL NIL Payout* 0.50% 182 Days Redemption Time# T+1 Business Day T+1 Business Day T+1 Business Day T+1 Business Day T+1 Business Day T+1 Business Day T+1 Business Day T+2 Business Day # AMC would adhere to the aforesaid service standards for redemption payments on best efforts basis under normal circumstances subject to the overall 10 business