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Index Markets & Beyond Equity Market Outlook PAGE NO. 4 Debt Market Outlook 5 Equity Funds Absolute Return Fund* An Open-ended Equity Scheme (*The Scheme is an equity-oriented Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns) Diversified Growth Equity Top 100 (E.D.G.E. Top 100) Fund An Open-ended Equity Scheme ELSS Fund An Open-ended Equity Linked Savings Scheme Select Midcap Fund** An Open-ended Equity Scheme (**Investors in the Scheme are not being offered any guaranteed/assured returns) Opportunities Fund An Open-ended Equity Scheme Arbitrage Fund An Open Ended Equity Scheme PAGE NO. 6 7 9 10 12 13 Fixed Income Funds Liquid Fund An Open-ended Liquid Scheme Ultra Short Term Bond Fund An Open-ended Debt Scheme Short Term Income Fund An Open-ended Income Scheme Gilt Fund An Open-ended Gilt Scheme Debt and Corporate Opportunities Fund An Open-ended Hybrid Scheme PAGE NO. 14 15 16 17 18 3
Markets & Beyond EQUITY MARKET OUTLOOK WHAT WE SAID LAST TIME RBI policy meeting scheduled in early part of the month shall be a keenly followed event. If RBI decreases the policy rates, there could be a substantial rally in the markets. However, the probability of such an event is low. We shall be starting off with the results season this month. With all the key events in the past, corporate earnings will regain their spot as the key driver of stock prices. Further, valuations for some stocks trade at uncomfortable levels. These levels may be tested in this result season. Globally, US economic data will continue to gather the eye balls from investors globally. Any major deviation from the street expectations is bound to drive up volatility in global markets. Further, political conditions in Middle East will be closely watched as they impact the crude oil prices directly. We expect Nifty to be in the range - 8200 to 9100 for the coming month, barring tail event. WHAT HAPPENED? Equity markets had a good start on back of good macroeconomic data, healthy foreign inflows and general macroeconomic optimism. Nifty gained close to 4% in the first seven days of trading. However, markets retracted strongly in the latter half of the month driven by disappointing corporate results, FII taxation concerns and expectation of bad monsoons. Nifty lost all its early gains and ended at -3.6% for the month. IT stocks, which are usually the first to declare results, were the leader of the pack in the downfall (CNX IT -9.0%) followed by Pharmaceuticals (CNX Pharma -6.1%) and Automobile (CNX Auto -5.0%) stocks. Metals (CNX Metals +3.4%) and Energy (CNX Energy +0.8%) stocks were bought into as investors chased value. Inflation data gave no cause for concern as both CPI (actual 5.17% YoY vs. expected 5.41% YoY) and WPI (actual -2.33% vs. expected -2.10%) were better than expectations. Industrial production for February surprised positively at 5.00% YoY as against an expectation of 3.30% YoY. In another positive, Moody's upgraded India's rating outlook from 'stable' to 'positive'. Trade data, however, was disappointing as exports fell -21.1% YoY and imports fell -13.4% YoY leading to a trade deficit of 11.79 billion for March. Globally, economic data indicated that economic activity across the globe still remains fragile. In US, the economy added just 126,000 new jobs in March against an expectation of 245,000 new jobs. Further, GDP data indicated that the US economy grew just 0.20% QoQ in first quarter of CY15 as against an expectation of 1.00% growth. In Japan, industrial production month-on-month growth was negative for second row in the month as production fell 0.3% in March. In UK, the economy grew by just 0.30% YoY as against an expectation of 0.50% YoY growth. In China, the Central Bank made a surprise move to cut reserve requirement to support the struggling economy. For the month: S&P +0.9%, DAX -4.3%, FTSE +2.8%, CAC +0.3%, Nikkei +1.6% and HSI 13.0%.. gain momentum. As a result, each US economic data will be discussed and debated intensely and may lead to market volatility. We expect Nifty to be in the range - 8100 to 8900 for the coming month, barring tail event. MACRO-ECONOMIC INDICATORS February IIP growth increased to 5.00% YoY vs. 2.80% YoY (revised upwards from 2.60%) in January March WPI inflation fell to -2.33% vs. -2.06% in February March CPI inflation fell to 5.17% YoY vs. 5.31% in February March exports fell by -21.10% YoY while imports fell by -13.40% YoY India's Manufacturing Purchasing Managers' Index (PMI) fell to 51.3 in MARKET ACTIVITY AND VALUATION Performance of Nifty Sectors: Top Performers Bottom Performers ` Index Nifty Nifty Junior CNX Midcap CYTD Pharmaceuticals (11.4%) Telecom (9.6%) Metals (-8.0%) Industrial Manufacturing (-10.3%) Performance of Size Indices: Flows: CYTD -1.2% 2.7% 0.8% FII Flows Metals (4.7%) Industrial Manufacturing (1.1%) Pharmaceuticals (-8.8%) IT (-8.9%) -3.6% -1.3% -2.4% OUTLOOK FOR THE COMING MONTH Earning results will continue to dominate investors' attention this month. With investor patience wearing thin, markets will not be in a mood to forgive underperforming companies while the outperforming companies will be quickly lapped up. Further, GDP data towards the end of this month and RBI meeting early next month will also occupy investor minds and may lead to market volatility. Globally, as June draws near, speculations on interest rate hike by US Fed will Valuation and earnings estimates: CNX Nifty Index is currently trading at 15.5 15.7x forward 1Y PE multiple which is close to its long term average. CNX Midcap is also trading at 15.5x forward 1Y PE which is slightly above its long term average. Source: Bloomberg, NSE, Internal research as of May 5, 4
Markets & Beyond DEBT MARKET OUTLOOK WHAT WE SAID LAST TIME The immediate trigger for RBI to do an off-cycle rate cut could have been more of an affirmation of effective coordination and cooperation between RBI and the government, especially after the announcement of the agreement of monetary policy framework and the consequent monetary policy independence that it highlighted. The outlook for fixed income continues to remain positive. The benign inflation outlook has led the RBI to lower repo rate by 50 bps in less than two months. We expect the central bank to lower interest rates further over the course of the year conditioned on indicators of the supply side, fiscal, interest rate transmission, outturn of monsoon, and global developments. WHAT HAPPENED? RBI in its monetary policy review on 7th left all key rates unchanged as broadly expected by the market. The central bank said that going forward, the accommodative stance of monetary policy will be maintained, but monetary policy actions will be conditioned by incoming data. Wholesale Price Index based inflation fell to a record low of -2.33% in March, primarily on the back of statistical effect of a high base and fall in prices of food products, especially vegetables. Fuel and power inflation declined 12.56% in March from -14.72% in February. Food articles inflation rose 6.31% in March from 7.74% in February, while on a month-on-month basis, the food articles index fell 0.4%. Within food, the vegetable index declined 4.69% month on month, while prices of potato declined by 7.51%. Prices of onion declined 4.10% month on month in March. Prices of cereals contracted 1.37% month on month in March, while those of pulses increased by 0.35%. Primary articles inflation rose 0.08% in March from 1.43% in the previous month. Fuel and power inflation declined 12.56% in March from - 14.72% in February. Manufactured products inflation declined 0.19% in March from growth of 0.33% a month ago. The non-food manufactured products inflation, which is a proxy for core inflation, declined 0.3% from growth of 0.1% in February. The inflation rate for January was revised to - 0.95% from provisional -0.39%. The Consumer Price Index based inflation based on the new series moderated to a three-month low of 5.17% in March from 5.37% in February, primarily due to statistical effect of a high base and lower inflation in food. India's industrial growth rose to a three-month high of 5.0% in February from 2.8% a month ago on the back of growth in the output of capital goods, consumer goods, and electricity and manufacturing sectors. The output of capital goods segment rose 8.8% against a contraction of 17.6% a year ago. The manufacturing sector, which accounts for nearly three-fourths of the total weight of the Index of Industrial Production, posted a rise of 5.2% in February, as against contraction of 3.9% a year ago. Within the consumer goods segment, consumer durables contracted 3.4% in February, compared with a contraction of 9.8% a year ago. Consumer non-durables goods sector recorded a growth of 10.7% in February, as against a contraction of 2.0% a year ago. Growth in core infrastructure sectors such as electricity was at 5.9%, down from 11.5% a year ago, while mining activity grew 2.5% against 2.3% growth a year ago. The growth in output of basic goods was 5.0% in February, while intermediate goods output rose 1.1%. In Apr-Feb, the first 11 months of this financial year, the industrial output has grown 2.8% from contraction of 0.1% a year ago. Industrial output growth for January was revised upwards to 2.8% from the provisional estimate of 2.6%. Industrial growth for November was also revised upwards, registering a sharp uptick to 5.2% from 3.8% previous estimate. The 10-year benchmark G-sec yield closed at 7.86%, up by 12 bps from last month level of 7.74% while that on the short-term 1-year bond rose by 4 bps to 7.92%. In the corporate bond segment, yields ended lower as compared to last month levels. The 10-year AAA bond yield closed at 8.34%, 6 bps lower than last month level while the short-term 1-year AAA bond yield declined by 12 bps to close at 8.42%. Within the short term segment, the yield on 3-month certificate of deposit (CD) ended 27 bps lower at 8.25%, while that on the 1-year CD closed at 8.34%, down by 3 bps. Meanwhile, yield on 3-month commercial paper (CP) declined by 30 bps to 8.56% while yield on 1-year CP ended higher by 6 bps from last month level to close at 8.85%. OUTLOOK FOR THE COMING MONTH Going forward, critical trigger for fixed income markets would be evolving disinflation trajectory, outturn of monsoon, and global developments. The recent Monetary Policy framework agreed by the government and RBI, measures announced to revive investments, better targeting of subsidies and more active supply side management along with fiscal consolidation should enable a gradual and durable lower inflationary environment. Lower consumer inflation will likely pave the way for the RBI to bring about a medium to long-term structural decline in interest rates. Source: Bloomberg, Cogencis, Internal research as of May 4, 5
6 ABSOLUTE RETURN Fund* (*The Scheme is an equity - oriented Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns.) Mr. Absolute seeks to personify the characteristics of Absolute Return Fund: generate absolute returns with low volatility over a longer tenure of time. FACTSHEET Equity Fund This product is suitable for investors who are seeking*: To create wealth over long term and prevent capital erosion in medium term Investment predominantly in equity and equity related securies including through arbitrage opportunies with balance exposure to debt and money market securies High risk (BROWN) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk The primary objective of the Scheme will be to generate absolute returns with low volatility over a longer tenure of time. The Scheme will accordingly invest in arbitrage opportunities and debt and money market instruments on the one hand and in pure equity investments and equity derivative strategies on the other. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets HDFC Bank Banks 4.48 ICICI Bank Banks 3.74 Housing Development Finance Corporation Finance 2.88 IDFC Finance 2.42 HCL Technologies Software 2.12 Cadila Healthcare Pharmaceuticals 2.01 Infosys Software 2.00 Axis Bank Banks 1.98 Britannia Industries Consumer Non Durables 1.98 Hindustan Unilever Consumer Non Durables 1.96 State Bank of India Banks 1.75 Indiabulls Housing Finance Finance 1.58 IndusInd Bank Banks 1.58 Bajaj Finance Finance 1.38 Larsen & Toubro Construction Project 1.34 Bharat Forge Industrial Products 1.29 CMC Software 1.27 Lupin Pharmaceuticals 1.16 Torrent Pharmaceuticals Pharmaceuticals 1.08 Aurobindo Pharma Pharmaceuticals 1.07 Notes: Fixed Deposit placed under margin : `900 Lakhs. Total Exposure to derivative instruments (excluding reversed positions) as on 30/04/ : `354.06 Lakhs. ASSET ALLOCATION as on 30, 60.56 Equities 39.44 EDELWEISS ABSOLUTE RETURN FUND ( ARF) ARF INDUSTRY ALLOCATION DIVIDEND HISTORY Record Date Opon Name NAV on Record Amount of Date (`) Dividend (`) 22/04/ Dividend Op on 13.81 0.22 27/01/ Dividend Op on 14.08 0.30 31/10/2014 Dividend Op on 13.24 0.22 25/07/2014 Dividend Op on 12.64 0.22 25/04/2014 Dividend Op on 11.16 0.22 31/01/2014 Dividend Op on 10.87 0.22 25/10/2013 Dividend Op on 11.20 0.22 26/07/2013 Dividend Op on 11.06 0.22 26/04/2013 Dividend Op on 10.98 0.18 24/01/2013 Dividend Op on 11.08 0.18 29/10/2012 Dividend Op on 11.06 0.18 27/07/2012 Dividend Op on 10.88 0.18 27/04/2012 Dividend Op on 10.84 0.18 27/01/2012 Dividend Op on 10.92 0.18 28/10/2011 Dividend Op on 10.88 0.18 29/07/2011 Dividend Op on 11.05 0.18 29/04/2011 Dividend Op on 11.10 0.18 28/01/2011 Dividend Op on 11.20 0.165 Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the NAV of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Others include (Derivatives, Fixed Deposit, CBLO / Reverse Repo Investments and Cash & Cash Equivalents) Performance may or may not be sustained in the future. FUND PERFORMANCE AS ON MARCH 31, ARF - (Direct Plan) Banks Finance Consumer Non Durables Pharmaceuticals Software Telecom - Services Consumer Durables Auto Construction Project Industrial Products Textile Products Telecom - Equipment & Accessories Petroleum Products Pesticides Industrial Capital Goods Auto Ancillaries Transportation Scheme Benchmark (Crisil MIP Blended Index ) Date of Allotment : August 20, 2009 Date of Inception (Direct Plan) : January 21, 2013 `1000/- per application & in multiples of `1/- Exit Load If the Units are redeemed / switched out on or before 365 days from the date of allotment 1.00% If the Units are redeemed / switched out after 365 days from the date of allotment Nil The entire exit load will be credited to the Scheme net of service tax, if any Ratios as on March 31, Standard deviation 9.65% Sharpe ratio** 1.61 Portfolio beta 0.55 R squared 0.83 Portfolio Turnover Ratio^ 2.19 times ** Risk Free Rate considered for the above = 7.738%p.a. (IGB 8.4 07/28/24) Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, NAV as on 30, Growth Option 18.63 Dividend Option 13.59 Direct Plan - Growth Option 18.81 Direct Plan - Dividend Option 14.96 Alternate Benchmark (CNX Nifty) (INR) Options: Growth, Dividend, Bonus Benchmark: CRISIL MIP Blended Index Total Expense Ratios : Existing Plan: 2.54% Direct Plan: 1.79% ARF Risk Measurement - Standard Deviation CRISIL MIP Blended Index March 31, 2014 - March 31, ^ 35.52% 13,552 36.16% 13,616 16.45% 11,645 26.65% 12,665 8.98% 3.01% 13.74% March 28, 2013 - March 31, 2014^ 9.92% 10,992 10.31% 11,031 6.52% 10,652 17.98% 11,798 9.35% 6.93% 18.15% March 30, 2012 - March 28, 2013^ 7.14% 10,714 NA NA 9.06% 10,906 7.31% 10,731 4.77% 2.15% 13.04% Since Inception (CAGR) ARF 11.87% 18,770 NA NA 8.67% 15,946 12.18% 19,066 6.74% 3.88% 17.02% Since Inception (CAGR) ARF - Direct Plan NA NA 19.73% 14,832 10.24% 12,378 16.46% 13,960 NA NA NA Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, 2011. In case start /end date of the relevant period is a non-business Day, the NAV of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. Performance of the Dividend Option for the investor would be net of the dividend 2.21% 2.12% 1.63% 1.48% 1.35% 1.19% 1.16% 1.05% 1.01% 2.74% 2.42% 2.23% 12.23% 11.62% 13.96% 24.04% 17.55% : Mr. Ashish Sahay Experience: 5 years Managing the Scheme since: June 23, 2014 Co-: Mr. Kartik Soral Experience:- 9 years Managing the Scheme since: - 1, CNX Nifty
FACTSHEET Equity Fund EDGEMaster seeks to personify the aribut es of E.D.G.E Top 100 Fund: A large cap Fund focusing on 100 largest corporates in India by market capitaliza on Invests in large caps which are resilient to downtrends Uses Quant style of invesng that helps in sensing the change in the trend quickly and ensures that the por olio has the potenal to deliver returns higher than the benchmark index. ^The Scheme is an open - ended equity Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns. This product is suitable for investors who are seeking*: To create wealth in the long term Investment predominantly in equity and equity-related securies including equity deriva ves of the 100 largest companies by market capitalizaon, listed in India High risk (BROWN) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk An open ended diversified equity Scheme that seeks to generate capital appreciation, from a portfolio that is substantially constituted of equity securities and equity related securities of the 100 largest corporates by market capitalization, listed in India. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets HCL Technologies Software 4.52 Infosys Software 3.47 ICICI Bank Banks 3.47 Housing Development Finance Corporation Finance 2.94 Larsen & Toubro Construction Project 2.70 Marico Consumer Non Durables 2.67 HDFC Bank Banks 2.65 Aurobindo Pharma Pharmaceuticals 2.38 Emami Consumer Non Durables 2.35 Hindustan Unilever Consumer Non Durables 2.25 State Bank of India Banks 2.24 ITC Consumer Non Durables 2.15 Coal India Minerals/Mining 1.96 Oil India Oil 1.95 Motherson Sumi Systems Auto Ancillaries 1.94 NTPC Power 1.93 Cairn India Oil 1.88 Tata Consultancy Services Software 1.86 MindTree Software 1.83 Axis Bank Banks 1.83 Notes: Fixed Deposit placed under margin : `150 Lakhs. Total Exposure to derivative instruments (excluding reversed positions) as on 30/04/ : ` 497.55 Lakhs. INDUSTRY ALLOCATION Banks Software Finance Consumer Non Durables Pharmaceuticals Oil Minerals/Mining Auto Ancillaries Power Construction Project Auto Pesticides Telecom - Services Industrial Capital Goods Telecom - Equipment & Accessories Petroleum Products Consumer Durables Textile Products Transportation 1.52% 1.32% 1.18% 0.91% 0.50% 0.45% Industrial Products 0.45% 3.36% 3.16% 2.25% 2.11% 1.97% 4.47% 4.19% 3.72% 13.45% 10.73% 14.54% 14.98% 14.75% Date of Allotment: May 20, 2009 Date of Inception (Direct Plan) : January 7, 2013 `1000/- per application & in multiples of `1/- Exit Load If the Units are redeemed / switched out on or before 365 days from the date of allotment 1.00% If the Units are redeemed / switched out after 365 days from the date of allotment Nil The entire exit load will be credited to the Scheme net of service tax, if any : Mr. Ashish Sahay Experience: 5 years Managing the Scheme since: June 23, 2014 Co-: Mr. Kartik Soral Experience:- 9 years Managing the Scheme since: - 1, Ratios as on March 31, Standard deviation 13.70% Sharpe ratio** 1.21 Portfolio beta 0.82 R squared 0.92 Portfolio Turnover Ratio^ 2.46 times ** Risk Free Rate considered for the above = 7.738%p.a. (IGB 8.4 07/28/24) Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, DIVIDEND HISTORY Record Date Plan/ Option NAV on Record Amount of Name Date (`) Dividend (`) 09/03/ Dividend option 18.80 1.00 per unit 08/08/2014 Dividend option 15.71 0.50 per unit 06/12/2013 Dividend option 13.27 0.50 per unit FUND PERFORMANCE AS ON MARCH 31, EDELWEISS DIVERSIFIED GROWTH EQUITY TOP 100 (E.D.G.E TOP 100) FUND E.D.G.E Top 100 Fund (Existing Plan) (INR) E.D.G.E Top 100 Fund (Direct Plan) (INR) E.D.G.E Top 100 Fund Plan B* Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the Scheme. shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as E.D.G.E Top 100 Fund Plan C* Scheme Benchmark (CNX Nifty ) (INR) Alternate Benchmark (S&P BSE SENSEX) Risk Measurement - Standard Deviation^^ applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, 2011. In case start /end date of the relevant period is a non-business Day, the NAV of the previous Business Day is considered for computation of return. ^^Standard Deviation for E.D.G.E Top 100 Fund - Existing Plan only Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. *Kindly refer addendum dated September 29, 2012 for discontinued Plan viz Plan B & Plan C & addendum dated Oct 19, 2012 for standardizing the nomenclature for existing Plan / Options (INR) (INR) E.D.G.E Top CNX S&P BSE 100 Fund Nifty SENSEX March 31, 2014 - March 31, ^ 44.24% 14,424 44.92% 14,492 44.24% 14,424 44.19% 14,419 26.65% 12,665 24.89% 12,489 12.99% 13.74 13.78% March 28, 2013 - March 31, 2014^ 16.99% 11,699 17.43% 11,743 16.97% 11,697 17.07% 11,707 17.98% 11,798 18.85% 11,885 15.90% 18.15 17.45% March 30, 2012 - March 28, 2013^ 10.06% 11,006 NA NA 10.09% 11,009 10.00% 11,000 7.31% 10,731 8.23% 10,823 11.01% 13.04 12.68% Since Inception (CAGR) E.D.G.E Top 100 Fund Since Inception (CAGR) E.D.G.E Top 100 - FundDirect Plan Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the NAV of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Options: Growth, Dividend, Bonus Benchmark: CNX Nifty Total Expense Ratios : Existing Plan: 2.67% Plan B*: 2.67% Plan C*: 2.67% Direct Plan: 1.92% NAV as on 30, Growth Option 25.35 Dividend Option 17.09 Plan B* - Growth Option 25.48 Plan B* - Dividend Option 25.78 Plan C* - Growth Option 25.14 Plan C* - Dividend Option 20.55 Direct Plan - Growth Option 25.60 Direct Plan - Dividend Option 18.75 17.71% 26,020 NA NA 17.81% 26,150 17.54% 25,810 12.43% 19,884 12.43% 19,883 16.29% 17.98 % NA NA 23.77% 16,081 NA NA NA NA 16.97% 14,179 17.04% 14,198 NA NA NA 17.64% 7
THE POWER OF HOLDING HIGH VALUE STOCKS THROUGH YOUR MUTUAL FUND INVESTMENTS The table below shows the number of shares, forming part of the Top 10 Equity Holdings of the portfolio of the Scheme as on 30,, that will be notionally held by an investor who invests an assumed amount of in each Scheme. `10 lakhs Absolute Return Fund (An Open Ended Equity scheme) Top 10 stocks in the Portfolio as on 30, Diversified Growth Equity Top 100 (E.D.G.E. Top 100) Fund (An Open Ended Equity scheme) Top 10 stocks in the Portfolio as on 30, Top 10 Equity Holdings % to Net Assets of the Scheme Shares notionally held by an investor* Top 10 Equity Holdings % to Net Assets of the Scheme Shares notionally held by an investor* HDFC Bank 4.48 45 HCL Technologies 4.52 51 ICICI Bank 3.74 113 Infosys 3.47 18 Housing Development Finance Corporation 2.88 25 ICICI Bank 3.47 105 IDFC 2.42 144 Housing Development Finance Corporation 2.94 25 HCL Technologies 2.12 24 Larsen & Toubro 2.70 70 Cadila Healthcare 2.01 12 Marico 2.67 67 Infosys 2.00 10 HDFC Bank 2.65 27 Axis Bank 1.98 35 Aurobindo Pharma 2.38 18 Britannia Industries 1.98 9 Emami 2.35 25 Hindustan Unilever 1.96 23 Hindustan Unilever 2.25 26 8 *This hypothetical illustration assumes a sum of `10 Lakhs invested in each Scheme as on 30,. Number of Shares notionally held are calculated based on the percentage of Top 10 Equity Holdings to the net assets of the Schemes as on 30,. Market Price of each share as on 30, is as follows: Aurobindo Pharma @ `1,285.65 Axis Bank @ `567.80 Britannia Industries @ `2,197.85 Cadila Healthcare @ `1,701.80 Emami @ `930.45 HCL Technologies @ `880.55 HDFC Bank @ `988.80 Hindustan Unilever @ `850.35 Housing Development Finance Corporation @ `1,170.00 ICICI Bank @ `331.15 IDFC @ `167.90 Infosys @ `1,942.25 Larsen & Toubro @ `385.75 Marico @ `401.70 Past performance may or may not be sustained in the market. This is a hypothetical exercise for improving the understanding of the investor on the deployment of his funds in the equity component of the portfolio and should not be construed to be actual holdings accruing to the Unitholder. The stocks referred to in this literature are not an endorsement by the Mutual Fund and AMC of their soundness or a recommendation to buy or sell these stocks. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
ELSS Fund (An Open-ended Equity Linked Savings Scheme) FACTSHEET Equity Fund This product is suitable for investors who are seeking*: To create wealth in the long term Investment in equity and equity-related securies that will be locked-in for the first three years High risk (BROWN) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk The primary objective of the scheme is to generate long-term capital appreciation with an option of periodic payouts at the end of lock in periods from a portfolio that invests predominantly in equity and equity related instruments. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets ICICI Bank Banks 5.87 Hindustan Unilever Consumer Non Durables 3.78 Torrent Pharmaceuticals Pharmaceuticals 3.35 Bajaj Finserv Finance 3.30 UPL Pesticides 3.30 HCL Technologies Software 2.84 Infosys Software 2.67 Aurobindo Pharma Pharmaceuticals 2.64 MindTree Software 2.49 L&T Finance Holdings Finance 2.41 State Bank of India Banks 2.27 Reliance Capital Finance 2.20 Motherson Sumi Systems Auto Ancillaries 2.04 Britannia Industries Consumer Non Durables 1.99 Larsen & Toubro Construction Project 1.93 Bharat Electronics Industrial Capital Goods 1.75 Tube Investment of India Auto Ancillaries 1.64 Axis Bank Banks 1.63 The Federal Bank Banks 1.63 HDFC Bank Banks 1.56 INDUSTRY ALLOCATION Banks Finance Pharmaceuticals Software Consumer Non Durables Auto Ancillaries Pesticides Construction Project Industrial Products Chemicals Industrial Capital Goods Consumer Durables Cement Telecom - Services Transportation Telecom - Equipment & Accessories Oil Petroleum Products Power Textile Products Construction Services Media & Entertainment 1.64% 1.59% 1.58% 1.49% 1.13% 1.09% 1.09% 1.04% 1.04% 0.93% 0.86% 0.86% 2.84% 2.60% 1.90% 1.79% 6.29% 3.35% 10.92% 12.99% 11.70% 16.60% 14.70% Date of Allotment: December 30, 2008 Date of Inception (Direct Plan) : January 21, 2013 `500/- per application & in multiples of `500/- Exit Load: NIL The entire exit load will be credited to the scheme net of service tax, if any : Mr. Ashish Sahay Experience: 5 years Managing the Scheme since: 1, Asst. : Mr. Bhavesh D. Jain Experience: 7 years Managing the Scheme since: August 07, 2013 Ratios as on March 31, Standard deviation 13.47% Sharpe ratio** 1.76 Portfolio beta 0.74 R squared 0.76 Portfolio Turnover Ratio^ 2.99 times ** Risk Free Rate considered for the above = 7.738%p.a. (IGB 8.4 07/28/24) Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, DIVIDEND HISTORY Record Date Option Name NAV on Record Date (`) Amount of Dividend (`) 26/03/ Dividend Option 17.37 0.50 per unit 09/03/ Dividend Option 18.48 0.50 per unit 27/01/ Dividend Option 18.60 0.50 per unit FUND PERFORMANCE AS ON MARCH 31, ELSS Fund EDELWEISS ELSS FUND ELSS Fund (Direct Plan) Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the NAV of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Scheme Benchmark (CNX 500) Alternate Benchmark (CNX Nifty) Options: Growth, Dividend Benchmark: CNX 500 Total Expense Ratios : Existing Plan:2.67% Direct Plan: 1.92% NAV as on 30, Growth Option 35.21 Dividend Option 16.77 Direct Plan - Growth Option 35.95 Direct Plan - Dividend Option 19.41 Risk Measurement -Standard Deviation ELSS Fund March 31, 2014 - March 31, ^ 47.25% 14,725 47.87% 14,787 33.56% 13,356 26.65% 12,665 13.35% 14.13% 13.74% March 28, 2013 - March 31, 2014^ 20.03% 12,003 20.50% 12,050 17.72% 11,772 17.98% 11,798 14.99% 16.91% 18.15% March 30, 2012 - March 28, 2013^ 6.74% 10,674 NA NA 5.13% 10,513 7.31% 10,731 10.29% 12.53% 13.04% Since Inception (CAGR) - Existing Plan 22.79% 36,090 NA NA 19.39% 30,282 18.24% 28,498 16.98% 19.74% 20.71% Since Inception (CAGR) - Direct Plan NA NA 27.10% 16,904 18.01% 14,370 16.46% 13,960 NA NA NA CNX 500 CNX Nifty Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, 2011. In case start /end date of the relevant period is a non-business Day, the NAV of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. 9
Meet Master Midcap ** showcasing Select Midcap Fund^ (An Open-ended Equity Scheme) **Master Midcap seeks to personify the aribut es of Select Midcap Fund: to generate long term capital appreciaon from a por olio predominantly comprising of equity and equity related securies of Mid Cap Companies, selected for their growth potenal from a primary universe of stocks comprising of the top 101-300 companies in India by market capitaliza on. ^The Scheme is an open - ended equity Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns. FACTSHEET Equity Fund This product is suitable for investors who are seeking*: To create wealth in the long term Investment predominantly in equity and equity related securi es including equity deriva ves of Mid Cap companies High risk (BROWN) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk The primary investment objective of the Scheme is to generate long term capital appreciation from a portfolio predominantly comprising of equity and equity related securities of MidCap Companies. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets Page Industries Textile Products 3.85 UPL Pesticides 3.35 Piramal Enterprises Pharmaceuticals 3.15 Ajanta Pharma Pharmaceuticals 2.88 Abbott India Pharmaceuticals 2.86 SJVN Power 2.78 WABCO India Auto Ancillaries 2.37 Tube Investments of India Auto Ancillaries 2.05 Alembic Pharmaceuticals Pharmaceuticals 1.96 Cyient Software 1.93 Canara Bank Banks 1.91 Sesa Sterlite Non - Ferrous Metals 1.88 National Aluminium Company Non - Ferrous Metals 1.87 Cholamandalam Investment and Finance Company Finance 1.80 Hindustan Petroleum Corporation Petroleum Products 1.74 Kansai Nerolac Paints Consumer Non Durables 1.69 Symphony Consumer Durables 1.68 Cairn India Oil 1.67 The Federal Bank Banks 1.67 L&T Finance Holdings Finance 1.65 Notes: Fixed Deposit placed under margin : `40 Lakhs. Total Exposure to derivative instruments (excluding reversed positions) as on 30/04/ : `49.82 Lakhs. DIVIDEND HISTORY Record Date Opon Name NAV on Record Date (`) Amount of Dividend (`) 01/08/2014 Dividend Op on 15.64 0.5 25/02/2014 Dividend Op on 12.50 0.5 FUND PERFORMANCE AS ON MARCH 31, INDUSTRY ALLOCATION Finance Pharmaceuticals Banks Auto Ancillaries Consumer Non Durables Consumer Durables Industrial Products Pesticides Textile Products Non - Ferrous Metals Power Software Transportation Chemicals Petroleum Products Oil Construction Industrial Capital Goods Cement Construction Project Media & Entertainment Services 2.15% 1.91% 1.84% 1.78% 1.55% 1.55% 1.44% 1.20% 2.57% 1.17% 4.23% 4.12% 3.06% 7.02% 5.81% 4.93% 4.88% 9.03% 7.93% EDELWEISS SELECT MIDCAP FUND Select Select Midcap Scheme Benchmark Alternate Benchmark Risk Measurement Midcap Fund Fund (Direct Plan) (CNX Midcap Index) (CNX Nifty) -Standard Deviation Select CNX Midcap CNX (INR) (INR) (INR) (INR) Midcap Fund Index Nifty March 31, 2014 - March 31, ^ 54.61% 15,461 55.26% 15,526 50.96% 15,096 26.65% 12,665 14.97% 17.87% 13.74% March 28, 2013 - March 31, 2014^ 26.78% 12,678 27.23% 12,723 16.36% 11,636 17.98% 11,798 14.39% 17.02% 18.15% March 30, 2012 - March 28, 2013^ 2.83% 10,283 NA NA -4.02% 9,598 7.31% 10,731 11.85% 14.28% 13.04% Since Inception (CAGR) - Existing Plan 22.30% 20,640 NA NA 17.87% 18,074 16.90% 17,545 14.27% 17.41% 16.63% Since Inception (CAGR) - Direct Plan NA NA 29.14% 17,749 20.21% 15,113 17.17% 14,269 NA NA NA 3.01% 13.62% 15.21% Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the NAV of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Date of Allotment: August 25, 2011 Date of Inception (Direct Plan) : January 1, 2013 `5000/- per application & in multiples of `1/- Exit Load: If the Units are redeemed / switched out on or before 365 days from the date of allotment 1.00% If the Units are redeemed / switched out after 365 days from the date of allotment NIL The entire exit load will be credited to the scheme net of service tax, if any : Mr. Ashish Sahay Experience: 5 years Managing the Scheme since: 1, Asst. : Mr. Bhavesh D. Jain Experience: 7 years Managing the Scheme since: August 07, 2013 Ratios as on March 31, Standard deviation 13.91% Sharpe ratio** 1.23 Portfolio beta 0.69 R squared 0.63 Portfolio Turnover Ratio^ 2.52 times ** Risk Free Rate considered for the above = 7.738%p.a. (IGB 8.4 07/28/24) Please note: Standard deviation and Sharpe ratio are annualized. ^ Lower of sales or purchase divided by average AUM for last rolling 12 months. Ratio as on 30, Options: Growth, Dividend, Bonus Benchmark: CNX Midcap Index Total Expense Ratios : Existing Plan: 2.65% Direct Plan: 1.95% NAV as on 30, Growth Option 20.31 Dividend Option 18.90 Direct Plan - Growth Option 20.51 Direct Plan - Dividend Option 19.89 Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the scheme shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, 2011. In case start /end date of the relevant period is a non-business Day, the NAV of the previous Business Day is considered for computation of returns. Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. 10
THE POWER OF HOLDING HIGH VALUE STOCKS THROUGH YOUR MUTUAL FUND INVESTMENTS The table below shows the number of shares, forming part of the Top 10 Equity Holdings of the portfolio of the Scheme as on 30,, that will be notionally held by an investor who invests an assumed amount of in each Scheme. `10 lakhs ELSS Fund (An Open-ended Equity Linked Savings Scheme) Top 10 stocks in the Portfolio as on 30, Select Midcap Fund (An Open Ended Equity scheme) Top 10 stocks in the Portfolio as on 30, Top 10 Equity Holdings % to Net Assets of the Scheme Shares notionally held by an investor* Top 10 Equity Holdings % to Net Assets of the Scheme Shares notionally held by an investor* ICICI Bank 5.87 177 Page Industries 3.85 3 Hindustan Unilever 3.78 44 UPL 3.35 68 Torrent Pharmaceuticals 3.35 28 Piramal Enterprises 3.15 34 Bajaj Finserv 3.30 23 Ajanta Pharma 2.88 23 UPL 3.30 67 Abbott India 2.86 7 HCL Technologies 2.84 32 SJVN 2.78 1156 Infosys 2.67 14 WABCO India 2.37 4 Aurobindo Pharma 2.64 21 Tube Investments of India 2.05 56 MindTree 2.49 20 Alembic Pharmaceuticals 1.96 41 L&T Finance Holdings 2.41 382 Cyient 1.93 40 *This hypothetical illustration assumes a sum of `10 Lakhs invested in each Scheme as on 30,. Number of Shares notionally held are calculated based on the percentage of Top 10 Equity Holdings to the net assets of the Schemes as on 30,. Market Price of each share as on 30, is as follows: Abbott India @ `3,940.35 Ajanta Pharma @ `1,263.00 Aurobindo Pharma @ `1,285.65 Alembic Pharmaceuticals @ `473.35 Bajaj Finserv @ `1,434.90 Cyient @ `481.20 HCL Technologies @ `880.55 Hindustan Unilever @ `850.35 ICICI Bank @ `331.15 Infosys @ `1,942.25 L&T Finance Holdings @ `63.05 MindTree @ `1,219.30 Page Industries @ `13,654.05 Piramal Enterprises @ `938.10 SJVN @ `24.05 Torrent Pharmaceuticals @ `1,201.85 Tube Investments of India @ `365.65 UPL @ `490.65 WABCO India @ `5,594.00 Past performance may or may not be sustained in the market. This is a hypothetical exercise for improving the understanding of the investor on the deployment of his funds in the equity component of the portfolio and should not be construed to be actual holdings accruing to the Unitholder. The stocks referred to in this literature are not an endorsement by the Mutual Fund and AMC of their soundness or a recommendation to buy or sell these stocks. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 11
VALUE OPPORTUNITIES Fund (An Open-ended Equity scheme) Formerly, Equity Enhancer Fund~ FACTSHEET Equity Fund This product is suitable for investors who are seeking*: To create wealth in the long term Investment in equity and equity-related securies including equity deriva ves High risk (BROWN) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk The objective of the Scheme is to generate returns through a combination of dividend income and capital appreciation by investing primarily in a well-diversified portfolio of Stocks. Stocks are those stocks, which tend to trade at a lower price relative to their fundamentals (i.e. dividends, earnings, sales, etc.) and thus considered undervalued by investors. They have attractive valuations in relation to earnings or book value or current and/or future dividends. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. TOP TWENTY EQUITY HOLDINGS Name of Instrument Industry % to Net Assets Abbott India Pharmaceuticals 4.61 Hindustan Unilever Consumer Non Durables 3.53 Cadila Healthcare Pharmaceuticals 2.88 Bharti Infratel Telecom - Equipment 2.85 & Accessories MindTree Software 2.67 NMDC Minerals/Mining 2.54 SJVN Power 2.44 Emami Consumer Non Durables 2.41 Grasim Industries Cement 2.40 Asian Paints Consumer Non Durables 2.39 Cairn India Oil 2.34 Hero MotoCorp Auto 2.33 HCL Technologies Software 2.24 Piramal Enterprises Pharmaceuticals 2.04 Alembic Pharmaceuticals Pharmaceuticals 1.42 Torrent Pharmaceuticals Pharmaceuticals 1.40 Marico Consumer Non Durables 1.31 Colgate Palmolive (India) Consumer Non Durables 1.29 Britannia Industries Consumer Non Durables 1.28 Sesa Sterlite Non - Ferrous Metals 1.28 Notes: Total Exposure to derivative instruments (excluding reversed positions) as on 30/04/ : `4.62 Lakhs. INDUSTRY ALLOCATION PERFORMANCE OF EDELWEISS EQUITY ENHANCER FUND (EEF)~ AS ON JUNE 30, 2014 Equity Enhancer Fund (Existing Plan) Equity Enhancer Fund (Direct Plan) Based on standard investment of `10,000 made at the beginning of the relevant period. ^Absolute Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception returns are calculated on `10/- invested at inception of the Scheme. shown above are for Growth Option only. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. Standard Benchmark prescribed by SEBI vide circular dated August 22, 2011. Equity Enhancer Fund - Plan B* Scheme Benchmark (CNX NIFTY )*** Inception date EEF : August 12, 2009 EEF (Plan B): June 16, 2009 EEF (Direct Plan) : January 7, 2013 VOF : September 10, 2014 `1000/- per application & in multiples of `1/- Exit Load: NIL : Mr. Ashish Sahay Experience: 5 years Managing the Scheme since: 1, Asst. : Mr. Bhavesh D. Jain Experience: 7 years Managing the Scheme since: August 07, 2013 Ratios for Opportunities Fund have not been provided as the Scheme has not completed one year since change in Fundamental Attributes. Options: Growth, Dividend, Bonus Benchmark: CNX 200 Index Total Expense Ratio : Existing Plan: 0.99% Plan B: 0.99% Direct Plan: 0.59% NAV as on 30, Growth Option 18.97 Dividend Option 17.27 Plan B* - Growth Option 18.69 Plan B* - Dividend Option 19.05 Direct Plan - Growth Option 19.09 Direct Plan - Dividend Option 17.43 Alternate Benchmark (S&P BSE SENSEX) In case start /end date of the relevant period is a non-business Day, the NAV of the previous Business Day is considered for computation of returns. ^^Standard Deviation for Equity Enhancer - Existing Plan only ***CNX Nifty was the erstwhile benchmark of the Scheme as on the date of performance i.e. September 30, 2014 ^^^Revised benchmark w.e.f September 10, 2014 Note: For the performance of other Schemes managed by the s, please refer to the relevant scheme. 12 *Kindly refer addendum dated September 29, 2012 for discontinued Plan viz Plan B & addendum dated Oct 19, 2012 for standardizing the nomenclature for existing Plan / Options (INR) Risk Measurement - Standard Deviation^^ Equity June 28, 2013 - June 30, 2014^ 34.33% 13,433 34.52% 13,452 34.35% 13,435 30.28% 13,028 31.03% 13,103 14.74% 17.26% 16.65% June 29, 2012 - June 28, 2013^ -1.60% 9,840 NA NA -1.70% 9,830 10.67% 11,067 11.28% 11,128 10.78% 13.63% 13.28% June 30, 2011 - June 29, 2012^ -3.91% 9,609 NA NA -3.89% 9,611-6.53% 9,347-7.51% 9,249 18.36% 20.60% 20.32% Since Inception (CAGR) Equity Enhancer Fund 10.91% 16,550 NA NA NA NA 11.58% 17,075 11.37% 16,920 15.95% 17.64% 17.31% Since Inception - Plan B (CAGR) NA NA NA NA 10.19% 16,310 10.90% 16,847 11.09% 16,990 NA NA NA Since Inception (CAGR) Equity Enhancer Fund - Direct Plan NA NA 18.81% 12,898 NA NA 17.63% 12,710 18.86% 12,906 NA NA NA Opportunities Fund Opportunities Fund (Direct Plan) Pharmaceuticals Consumer Non Durables Inception date: EEF : August 12, 2009, Inception date: EEF (Plan B): June 16, 2009, EEF (Direct Plan) : January 7, 2013 PERFORMANCE OF EDELWEISS VALUE OPPORTUNITIES FUND (VOF)~ AS ON MARCH 31, Opportunities Fund - Plan B* Scheme Benchmark (CNX 200 Index)^^^ CNX Nifty S&P BSE SENSEX Alternate Benchmark (CNX NIFTY) Since Inception - VOF^ 8.92% 10,892 NA NA 8.88% 10,888 6.53% 10,653 4.90% 10,490 Since Inception - VOF - Direct Plan^ NA NA 9.11% 10,911 NA NA 6.53% 10,653 4.90% 10,490 VOF : September 10, 2014 ~ Equity Enhancer Fund was launched on August 12, 2009. Subsequently, the fundamental attributes of the Scheme (including the Scheme name, the asset allocation and the benchmark index) were changed w.e.f. September 10, 2014. Refer Notice cum Addendum dated August 5, 2014 for further details. Finance Software Power Oil Cement Telecom - Equipment & Accessories Minerals/Mining Petroleum Products Non - Ferrous Metals Auto Auto Ancillaries Industrial Products Transportation Banks Media & Entertainment Gas Construction Project 2.86% 2.81% 2.35% 2.24% 2.00% 1.47% 1.43% 1.42% Chemicals 1.13% Consumer Durables 0.88% Textile Products 0.70% Industrial Capital Goods 0.53% Construction 0.49% 4.75% 3.49% 3.12% 3.09% 3.08% 5.98% 5.88% 8.17% 7.37% 16.73% 18.05%
ARBITRAGE Fund (An Open-ended Equity scheme) FACTSHEET Equity Fund This product is suitable for investors who are seeking*: To generate income by predominantly invesng in arbitrage opportunies Investments predominantly in arbitrage opportunies in the cash and deriva ve segments of the equity markets and the arbitrage opportunies available within the deriva ve segment and by invesng the balance in debt and money market instruments Low risk (BLUE) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk The investment objective of the Scheme is to generate income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. EQUITY HOLDINGS Name of Instrument Industry % to Net Assets EQUITIES 67.90 HDFC Bank Banks 9.17 Reliance Industries Petroleum Products 9.12 IDFC Finance 8.41 IndusInd Bank Banks 6.02 Maruti Suzuki India Auto 4.75 Grasim Industries Cement 4.30 Lupin Pharmaceuticals 3.21 NTPC Power 3.13 Axis Bank Banks 2.90 Sun Pharmaceuticals Pharmaceuticals 2.61 Oil & Natural Gas Corporation Oil 2.57 ICICI Bank Banks 2.32 Housing Development Finance Finance 2.00 Corporation Tata Global Beverages Consumer Non Durables 1.78 Yes Bank Banks 0.93 Power Grid Corporation of Power 0.90 India Century Textiles & Industries Cement 0.81 Reliance Communications Telecom - Services 0.65 Infosys Software 0.54 Unitech Construction 0.51 Tata Steel Ferrous Metals 0.48 Engineers India Construction Project 0.44 Tata Communications Telecom - Services 0.21 Punjab National Bank Banks 0.09 Wipro Software 0.05 DERIVATIVES -68.40 Wipro Software -0.06 Punjab National Bank Banks -0.09 Tata Communications Telecom - Services -0.21 Engineers India Construction Project -0.44 Tata Steel Ferrous Metals -0.48 Unitech Construction -0.52 Infosys Software 0.54 Reliance Communications Telecom - Services -0.65 Century Textiles & Industries Cement -0.82 Power Grid Corporation of Power -0.90 India Yes Bank Banks -0.94 Tata Global Beverages Consumer Non Durables -1.80 Housing Development Finance Finance 2.02 Corporation ICICI Bank Banks -2.34 Oil & Natural Gas Corporation Oil -2.59 Sun Pharmaceuticals Pharmaceuticals -2.64 Industries Axis Bank Banks -2.92 NTPC Power -3.15 Lupin Pharmaceuticals -3.23 Grasim Industries Cement -4.34 Maruti Suzuki India Auto -4.79 IndusInd Bank Banks -6.07 IDFC Finance -8.50 Reliance Industries Petroleum Products -9.10 HDFC Bank Banks -9.26 Money Market Instrument 0.18 CARE A1+ Punjab National Bank 0.18 Bonds & NCDs** Listed / awaiting listing on the stock exchanges 3.01 CRISIL AAA LIC Housing Finance 0.99 Housing Development Finance Corporation 0.94 Housing Development Finance Corporation 0.65 Power Finance Corporation 0.24 Rural Electrification Corporation 0.06 ICICI Bank 0.05 Housing Development Finance Corporation 0.02 ICRA AAA ICICI Bank 0.06 INDUSTRY ALLOCATION Notes: Fixed Deposit placed under margin : ` 6,681.00 Lakhs. DIVIDEND HISTORY Record Date Performance of the Scheme has not been provided, as it has not completed one year. Banks Finance Petroleum Products Pharmaceuticals Cement Auto Power Oil Consumer Non Durables Telecom - Services Software Construction Ferrous Metals Construction Project 3.78% 2.62% 1.26% 0.88% 0.76% 0.70% 0.64% Opon Name 7.00% 5.93% 7.53% 15.34% 13.43% 8.57% NAV on Record Date (`) 31.56% OTHERS 97.31 Fixed Deposit 12.42 CBLO / Reverse Repo Investments 21.65 Cash & Cash Equivalents Net Receivable/Payable 63.24 Grand Total 100.00 **Thinly traded/non traded securities as defined in SEBI Regulations and Guidelines. Amount of Dividend (`) 22/04/ Dividend Op on 10.4041 0.05 16/03/ Dividend Op on 10.3715 0.08 31/12/2014 Dividend Op on 10.3361 0.14 Dividend is declared on the face value of `10/- per unit. Dividend is paid subject to availability of distributable surplus. After payment of dividend the NAV of the Dividend Option of the Scheme falls to the extent of the dividend pay out and statutory levy if any. Past Performance may or may not be sustained in the future. Date of Allotment: June 27, 2014 `5000/- per application & in multiples of `1/- Exit Load: If redeemed within three months from the date of allotment 0.50% If redeemed after three months from the date of allotment - NIL The entire Exit Load, net of service tax, shall be credited to the Scheme. : Mr. Bhavesh D. Jain Experience: 7 years Managing the Scheme since: June 27, 2014 Co-: Mr. Ashish Sahay Experience: 5 years Managing the Scheme since: 1, Options: Growth, Dividend, Bonus Benchmark: CRISIL Liquid Fund Index Total Expense Ratio : Regular Plan: 1.00% Direct Plan: 0.70% NAV as on 30, Regular Plan - Growth Option 10.7655 Regular Plan - Dividend Option 10.3744 Regular Plan - Bonus Option 10.7655 Direct Plan - Growth Option 10.7994 Direct Plan - Dividend Option 10.3659 13