INDEX MARKET OUTLOOK Equity Debt EQUITY Tata Large Cap (Erstwhile known as Tata Pure Equity ; renamed w.e.f February 29, 2016) Tata Equity Opportunities Tata Ethical Tata Equity P/E Tata Mid Cap Growth Tata Dividend Yield Tata India Tax Savings (Erstwhile known as Tata Long Term Equity ; renamed w.e.f December 21, 2015) 7 8 9 10 11 12 13 14 15 Tata Banking & Financial Services Tata Digital India Tata India Consumer Tata India Pharma & Healthcare Tata Resources & Energy Tata Infrastructure HYBRID Tata Balanced Tata Savings Equity 16 17 17 18 18 19 20 21 DEBT Tata Dynamic Bond Tata Income Plus Tata Long Term Debt (Erstwhile known as Tata Income ; renamed w.e.f December 1, 2016) Tata Short Term Bond Tata Treasury Manager Tata Floater 22 23 24 25 26 27 LIQUID Tata Money Market Tata Liquid 28 29 GILT Tata Gilt Securities Tata Gilt Mid Term Tata Gilt Short Maturity 30 31 32 SOLUTIONS Tata Retirement Savings - Progressive Tata Retirement Savings - Moderate Tata Retirement Savings - Conservative Tata Young Citizens SCHEMES PERFORMANCE COMPARATIVE PERFORMANCE OF ALL TATA FMP SCHEMES DIVIDEND / BONUS HISTORY HOW TO READ FACT SHEET 33 34 35 36 37-47 47-50 51-53 54 2
RISKOMETER Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Liquid Investment in Debt/Money Market instruments/government Securities. Tata Money Market Investment in Money Market instruments. Name of the Schemes Tata Floater Investment Objective Fixed Income for Short Term. Investment in Debt/Money Market instruments/government Securities. Riskometer Tata Treasury Manager Investment in Debt/Money Market instruments excluding Government Securities. Tata Short Term Bond Investment Objective Fixed Income for Short Term. Investment in Debt/Money market instruments /Government Securities. Name of the Schemes Investment Objective Generate Income and/or Capital Appreciation for a Fixed Term Tata Fixed Maturity Plan - Series 45 - Scheme D Tata Fixed Maturity Plan - Series 45 - Scheme E Tata Fixed Maturity Plan - Series 46 - Scheme E Tata Fixed Maturity Plan - Series 46 - Scheme H Tata Fixed Maturity Plan - Series 46 - Scheme I Tata Fixed Maturity Plan - Series 46 - Scheme L Tata Fixed Maturity Plan - Series 46 - Scheme O Tata Fixed Maturity Plan - Series 46 - Scheme P Tata Fixed Maturity Plan - Series 46 - Scheme S Tata Fixed Maturity Plan - Series 47 - Scheme A The investment objective of a scheme is to generate income and / or capital appreciation by investing in wide range of Fixed Income Instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or less than the maturity of the scheme. Tata Fixed Maturity Plan - Series 47 - Scheme I Tata Fixed Maturity Plan - Series 47 - Scheme M Tata Fixed Maturity Plan - Series 47 - Scheme N 3
RISKOMETER Name of the Schemes Investment Objective Fixed Income for Short Term. Riskometer Tata Dynamic Bond Investment Objective Short Term to Medium Capital Appreciation & Income. Investment in Debt/Money Market instruments/government securities. Tata Gilt Mid Term Investment Objective Medium Term Capital Appreciation. Investment predominantly in Government Securities (upto 15 years maturity). Tata Gilt Securities Investment Objective Long Term Capital Appreciation & Income. Investment predominantly in Government Securities. Tata Gilt Securities Short Maturity Investment Objective Short Term to Medium Capital Appreciation & Income. Investment predominantly in Government Securities (average maturity upto 6 years). Tata Long Term Debt (Erstwhile known as Tata Income ; renamed w.e.f December 1, 2016) Tata Income Plus Investment Objective Long Term Capital Appreciation & Income. Investment in Debt/Money Market instruments/government Securities. Investment Objective Long Term Capital Appreciation & Income. Investment in Debt/Money Market instruments/government Securities. Name of the Schemes Tata Fixed Maturity Plan - Series 44 - Scheme D Tata Fixed Maturity Plan - Series 46 - Scheme D Tata Fixed Maturity Plan - Series 46 - Scheme K Tata Fixed Maturity Plan - Series 46 - Scheme M Tata Fixed Maturity Plan - Series 46 - Scheme N Tata Fixed Maturity Plan - Series 46 - Scheme Q Tata Fixed Maturity Plan - Series 46 - Scheme R Tata Fixed Maturity Plan - Series 46 - Scheme T Tata Fixed Maturity Plan - Series 47 - Scheme C Tata Fixed Maturity Plan - Series 47 - Scheme D Tata Fixed Maturity Plan - Series 47 - Scheme E Tata Fixed Maturity Plan - Series 47 - Scheme F - Plan A Tata Fixed Maturity Plan - Series 47 - Scheme H Tata Fixed Maturity Plan - Series 47 - Scheme J Investment Objective Generate Income and/or Capital Appreciation for a Fixed Term The investment objective of a scheme is to generate income and / or capital appreciation by investing in wide range of Fixed Income Instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or less than the maturity of the scheme. 4
RISKOMETER Name of the Schemes Tata Balanced Tata Dividend Yield Tata Equity Opportunities Tata Equity P/E Tata Ethical Tata Mid Cap Growth Tata Large Cap (Erstwhile known as Tata Pure Equity ; renamed w.e.f February 29, 2016) Tata Retirement Savings - Moderate Plan Investment Objective Long Term Capital Appreciation Investment predominantly in equity & equity related instruments and some portion (between 25% to 35%) in fixed income instruments. Investment (minimum 70%) in equity & equity related instruments/stocks having dividend yield higher than dividend yield of stocks of BSE SENSEX. Investment in equity and equity related instruments of well researched value and growth oriented companies across all market capitalization. Investment (minimum 70%) in equity & equity related instruments of companies whose rolling P/E is lower than rolling P/E of BSE Sensex. Investment in equity and equity related instruments of Shariah Principles compliant companies and in other instruments allowed under Shariah principles. Investment predominantly in equity & equity related instruments of growth oriented mid cap companies. Investment predominantly in equity & equity securities related securities of large cap companies. A predominantly equity oriented savings scheme which provides tool for retirement planning to individual investors. Riskometer Tata Savings Equity Tata Retirement Savings - Progresive Plan Tata India Tax Savings (Erstwhile known as Tata Long Term Equity ; renamed w.e.f December 21, 2015) Tata Young Citizens Tata Retirement Savings - Conservative Plan Predominantly investing in equity and equity related instruments, equity arbitrage opportunities and debt and money market instruments. A predominantly equity oriented savings scheme which provides tool for retirement planning to individual investors. An equity linked savings scheme (ELSS) Investing predominantly in Equity & Equity related instruments. Investment Objective Long Term Capital Appreciation & Current Income. Investment in equity & equity related instruments and in fixed income instruments. Investment Objective Long Term Capital Appreciation & Current Income. A predominantly debt oriented savings scheme which provides tool for retirement planning to individual investors. Name of the Schemes Tata Dual Advantage - Scheme B Tata Dual Advantage - Scheme C Investment objective Capital appreciation and current income by investing predominantly in fixed income instruments and some portions in equity/equity related instruments Generate income and / or capital appreciation by investing predominantly in portfolio of fixed income instruments having maturity on or before the date of the maturity of the scheme. The scheme will invest small portion (upto 30%) of the scheme assets in equity/equity related instrument including derivative instruments. Tata Dual Advantage - Series 2 - Scheme A Tata Dual Advantage - Series 2 - Scheme B Tata Dual Advantage - Series 2 - Scheme C Tata Dual Advantage - Series 3 - Scheme A Generate income and / or capital appreciation by investing predominantly in portfolio of fixed income instruments having maturity on or before the date of the maturity of the scheme. The scheme will invest small portion of the scheme assets in equity/equity related instrument including derivative instruments. 5
RISKOMETER Name of the Schemes Investment Objective Long Term Capital Appreciation. Riskometer Tata Banking & Financial Services Tata India Consumer Tata Digital India Tata India Pharma & Healthcare Tata Resources & Energy Tata Infrastructure Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Banking and Financial Services sector in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Consumption Oriented sectors in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Information Technology sector in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Pharma & Healthcare sectors in India. Primarily focuses on investment in at least 80% of its net assets in equity/equity related instruments of the companies in the Resources & Energy sectors in India. Investment Predominantly in equity / equity related instruments of the companies in the Infrastructure sector in India. Name of the Schemes Tata Infrastructure Tax Saving Investment objective Long term capital appreciation by investing in equity/equity related instruments of companies in the infrastructure sector in India Generate medium to long term capital gain by investing predominantly in equity / equity related instruments of the companies in infrastructure and infrastructure related sectors along with the income tax benefit to its unitholders. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. 6
MARKET OUTLOOK Equity market The Indian equity markets ended higher in the month of February 2017, as both Sensex and Nifty were up by 3.9% and 3.7% respectively. The broader market outperformed the Sensex, as reflected by the performance of the BSE Midcap and BSE 200 index at 5.4% and 4.3% respectively. In terms of sectors; IT, Consumer durables and Realty were outperformers whilst Auto, Metals and Power were the major underperformers. FII flows turned positive in February after 4 months of outflows, with net inflows to the tune of ~USD 1.5 bn. Consequently, FIIs net inflows in CYTD amounts to ~USD 1.3 bn. Domestic MFs witnessed net inflows of ~USD 300 m during the month. Index Name Nifty 50 Index S&P BSE Sensex S&P BSE MID CAP S&P BSE SMALL CAP S&P BSE 200 S&P BSE AUTO S&P BSE Bankex S&P BSE Consumer Durable S&P BSE Capital Good S&P BSE FMCG S&P BSE Health Care S&P BSE IT S&P BSE METAL S&P BSE Oil & Gas S&P BSE Power Index S&P BSE Realty As on Return in % 28-Feb-17 31-Jan-17 29-Feb-16 1 Month 1 Year 8880 28743 13552 13691 3859 21486 23482 13779 15333 8800 15385 10376 11893 13534 2196 1495 8561 27656 12857 12936 3701 21809 22312 12626 14783 8568 14797 9586 11672 12838 2168 1370 6987 23002 9575 9548 2947 15852 15815 11054 11239 7114 15208 10229 6759 8214 1582 1051 3.7 3.9 5.4 5.8 4.3-1.5 5.2 9.1 3.7 2.7 4.0 8.2 1.9 5.4 1.3 9.1 27.1 25.0 41.5 43.4 30.9 35.5 48.5 24.6 36.4 23.7 1.2 1.4 76.0 64.8 38.8 42.2 The Macro picture WPI CPI Index of Industrial Production Repo rate Marginal Standing Facility Rate Source RBI, MOSPI January-17 5.2% 3.2% -0.4% (for December 2016) 6.25% (as on February 28, 2017) 6.75% (as on February 28, 2017) December-16 3.4% 3.4% 5.7% (for November 2016) 6.25% (as on January 31, 2017) 6.75% (as on January 31, 2017) Growth India s GDP grew by 7% YoY for the quarter ended December 2017, a slight moderation versus 7.2% in the previous quarter. The dip in growth was milder than expected post demonetization, driven by expansion of both private and government consumption accompanied by a slight increase in growth in gross fixed capital formation. Inflation Consumer Price Inflation (CPI) index moderated to 3.2% YoY in January 2017 versus 3.4% YoY in December 2016. Moderation in inflation continued in food & beverages, clothing and footwear, while fuel inflation inched up. Wholesale Price Inflation (WPI) index rose significantly to 5.2% YoY in January 2017 from 3.4% YoY in December 2016, reflecting rising commodity prices viz. coal and mineral oils. Monetary Policy The Reserve Bank of India (RBI) left the policy rates unchanged while moving the policy stance from accommodative towards neutral. RBI is of the view that risks to inflation are to the upside from the current benign inflation environment. Other macro developments India s trade deficit declined to a four-month low of US$9.8bn in January 2017 from US$10.4bn in December 2016 even as imports growth outpaced exports growth. Non-oil exports growth remained muted at 1.6% YoY while non-oil, non-gold imports were up 4% YoY. Foreign currency reserves stood at ~USD363bn as on February 19, 2017 as compared to ~USD362bn towards the end of January 2017. Market Outlook February was a good month for global equity markets. During the month many developed markets and emerging markets, including India, performed well. The Indian markets continued to rally on account of flows from both domestic and foreign institutional investors. The increase in markets is also reflective, to a certain extent, of the milder than expected impact of demonetization, as visible in the third quarter results. A balanced approach to union budget with continued focus on infrastructure and fiscal consolidation also aided positive sentiments in the market. Going ahead, on the domestic front, the outcome of elections in five states including India s largest state, Uttar Pradesh and successful implementation of GST are the events to watch out for. In the near term, global liquidity flows and economic policies of developed nations continue to be a key determinant for emerging market performance including India. Reversal of FII flows due to global events remains a key risk to the Indian market, however, it is important to note that India is much better placed to handle such an event given its healthy macro-economic parameters. Strong macro position, reforms and long-term structural drivers like demographic advantage, low household debt, limited penetration across different consumer categories, increased potential for financial savings and urbanization makes India a compelling equity story from medium to long term perspective. We believe investors would be well advised to use volatility to increase exposure to Indian equity markets. Disclaimer The views expressed are in no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Please consult your Financial/Investment Adviser before investing. The views expressed may not reflect in the scheme portfolios of Tata Mutual. This note has been prepared using information believed to be accurate at the time of its use. 7
MARKET OUTLOOK Debt market 28-Feb-17 31-Jan-17 Change (bps) 10 Year Benchmark Yield (s.a) 10 Year AAA (PSU) (ann) 5 Year AAA (PSU) (ann) 3 Month T Bill 3 Month CD 12 Month CD 10 Year AAA Spread 5 Year AAA Spread 6.87% 7.74% 7.43% 6.10% 6.38% 6.56% 0.75% 0.44% 6.41% 7.29% 7.13% 6.20% 6.33% 6.55% 0.78% 0.62% 46 45 30-10 5 1-3 -18 Sovereign bond market remained volatile throughout the month after witnessing a massive sell off as RBI announced a change in stance from accommodative to neutral. Globally, bond yields remained volatile with US 10 year trading in the range of 2.32-2.52 and closing the period at 2.39. For the period under review, the 10year benchmark yield hardened by 46 bps to close at 6.87%. The corporate bonds also followed G-Sec, with 10year AAA yields up by 45 bps, while the 5year AAA bond yields were up by 30 bps. On the contrary, yield movement on the money market instruments at the shorter end was a mixed bag because of excess liquidity in the system. While the 3month Treasury bill rates eased by 10 bps, 3month CD yields hardened by 5 bps and 1year CD yield eased by 1 bps. The Reserve Bank of India in its 6th bi-monthly monetary policy, maintained HOLD on key rates and changed the monetary policy stance to Neutral from Accommodative. Although market was divided on policy rate cut, with a section expecting a 25bps cut, the change of stance by RBI took market by surprise. The rate decision has been taken by a six-member monetary policy committee (MPC) with all 6 members voting in favor of monetary policy decision. RBI has taken note of persistence of inflation, excluding food and fuel, and has reiterated that stickiness in core inflation could set a floor on further downward movements in headline inflation. RBI expects inflation to pick up in H2-FY2018 and hence with the objective of achieving the medium term target of 4% within a band of +/- 2%, has adopted neutral stance of monetary policy. On the macro economic data released during the period, January CPI printed a series low of 3.17% YoY, from 3.41% YoY in December. CPI inflation fell for the 6th consecutive month driven mainly by fall in vegetable and pulses prices. In sequential terms, CPI fell by 0.08% MoM due to sharp fall in vegetable and pulses prices. Outsized decline in perishable items was the key driver, with vegetables declining 4.71% MoM. Food and beverages (weight of 45.86% in CPI) grew by 1.29% YoY during the month compared to 1.98% in December. On the other hand, Core inflation rose to 5.2% YoY in January versus 4.90% YoY in December. January WPI inflation rose to a 30-month high of 5.2% YoY compared to 3.39% YoY in December, beating market expectation of 4.35%. The acceleration was driven by higher input costs (non-food primary articles, minerals, fuel, basic metals), which more than offset the tepid food inflation reading (barring sugar) caused by demonetization. The Index of Industrial Production moderated to -0.40% YoY in December from 5.70% YoY in November, below consensus of 1.2%. The moderation is not a surprise; weak demand since demonetization has likely forced companies to cut production in order to clear the excess inventory. Output growth contracted in consumer goods (more in durables than in non-durables), capital goods and intermediate goods segments, suggesting that both consumption and investment demand weakened after demonetization. 2016 has been a disappointing year for the industrial sector, with output growth almost flat at 0.3% y-o-y versus 3.2% in 2015, due to weak investment and external demand. Central Statistics Office (CSO) released second advanced estimates of FY17 GDP, estimating real growth at 7.1% significantly higher than the market consensus of 6.8%. The reading remains unchanged vis-a-vis the first advance estimate, which is surprising as the impact of the currency swap process wasn t captured in the previous release. GDP growth for Q3FY17 which was supposed to capture the currency swap exercise disruption was reported at 7.0% higher than the market consensus of 6.1%. Going further, the third provisional estimate due on May 31 might reveal the full impact of demonetization. Going forward, we expect inflation would be around 4.00%-4.50% by June 2017 and RBI target of 5.00% to be comfortably met. On the policy front, we believe that change of stance from accommodative to neutral means that floor of policy rates has already been achieved and we may enter into a phase of prolonged pause in policy rates going ahead. We expect 10-year G-sec yield to trade range-bound in near term, within a band of 6.70%-7.00%. We expect liquidity to remain comfortable and in surplus mode for a few months going ahead which will limit upside in short-term rates. Disclaimer The views expressed are in no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Please consult your Financial/Investment Adviser before investing. The views expressed may not reflect in the scheme portfolios of Tata Mutual. This note has been prepared using information believed to be accurate at the time of its use. 8
Tata Large Cap (Erstwhile known as Tata Pure Equity ; renamed w.e.f February 29, 2016) (An Open-Ended Equity Scheme) Primarily invests in equity and equity related instruments of large market cap companies. To provide income distribution and / or medium to long term capital gains while at all times emphasising the importance of capital appreciation. May 7, 1998 FUND MAGER Pradeep Gokhale (Managing Since Jan-12 and overall experience of 25 years) S&P BSE Sensex V - Growth - Dividend Reg - Growth Reg - Dividend Rs.824.27 (Rs. in Cr.) Rs.835.1 (Rs. in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 29.17% 29.17% 1.02 2.72 **Note The rates specified are the actual weighted average expenses charged for the month of Feb 2017. The above ratio includes the Service tax on Investment Management Fees. The above ratio includes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-15 cities assets, wherever applicable. Sharpe Ratio 13.95 0.19 0.95 0.91 0.81 0.33 MINIMUM INVESTMENT / Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS Rs. 1,000/- and multiples of Re. 1/- thereafter. 187.2395 45.9761 178.4494 42.3836 13.96 0.12 0.47 Risk-free rate based on the FBIL Overnight MIBOR rate of 6.05% as on Feb 28, 2017 For calculation methodology please refer to Pg 50 Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Tata Motors Ltd. Mahindra & Mahindra Ltd. Tata Motors - DVR Auto Ancillaries Motherson Sumi Systems Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. State Bank Of India Indusind Bank Ltd. Yes Bank Ltd. Cement Ultratech Cement Ltd. Ambuja Cements Ltd. Grasim Industries Ltd. Construction Project Larsen & Toubro Ltd. Consumer Non Durables ITC Ltd. Hindustan Unilever Ltd. Finance Bajaj Finance Ltd. Housing Development Finance Ltd. Gas Gail ( India ) Ltd. Industrial Capital Goods Bharat Electronics Ltd. Siemens Ltd. No. of Shares 48000 445000 118000 353443 250000 566000 1822500 1200000 115000 102000 65000 600000 100000 124567 1522500 120000 100000 71000 365000 195000 92000 78425.70 2842.97 2029.87 1542.20 978.51 874.38 7862.87 5037.39 3230.40 1510.99 1481.86 2452.09 1372.80 992.55 1831.45 3991.23 1037.88 1107.30 971.85 1887.42 2954.15 1109.75 % of Assets 95.15 3.45 2.46 1.87 1.19 1.06 9.54 6.11 3.92 1.83 1.80 2.97 1.67 1.20 2.22 4.84 1.26 1.34 1.18 2.29 3.58 1.35 Industrial Products Cummins India Ltd. Non - Ferrous Metals Vedanta Ltd. Hindustan Zinc Ltd. Media & Entertainment Zee Entertainment Enterprises Ltd. Minerals/Mining Coal India Ltd. Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Pharmaceuticals Glenmark Pharmaceuticals Ltd. Sun Pharmaceutical Industries Ltd. Power Power Grid Corporation Of India Ltd. Software Infosys Ltd. HCL Technologies Ltd. Tech Mahindra Ltd. Transportation Container Corporation Of India Ltd. Other Equities^ Repo Net Current Liabilities No. of Shares SIP - If you had invested INR 10000 every month 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception Total Amount Invested (Rs.) Total Value as on Dec 31, 2016 (Rs.) Returns Total Value of B S&P BSE Sensex B S&P BSE Sensex 120,000 120,536 0.83% 120,756 1.17% 360,000 390,192 5.30% 369,668 1.73% 600,000 780,044 10.44% 715,735 6.99% 840,000 1,195,199 9.91% 1,070,189 6.81% 1,200,000 2,089,321 10.69% 1,762,496 7.46% 2,230,000 16,620,849 18.84% 7,979,061 12.35% (Inception date 07-May-1998) (First Installment date 01-Jun-1998) Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 37-47. *B Benchmark Source MFI Explorer 200000 400000 300000 324000 312000 278500 240000 242000 200000 1755000 401000 396350 250000 120000 ^ Exposure less than 1% has been clubbed under Other Equities 1771.10 1036.40 924.15 1648.03 1004.02 3448.53 923.88 2239.71 1357.90 3369.60 4059.32 3329.74 1249.63 1462.26 3501.52 4093.55 82519.25-92.18 82427.07 % of Assets 2.15 1.26 1.12 2.00 1.22 4.18 1.12 2.72 1.65 4.09 4.92 4.04 1.52 1.77 4.25 4.97 100.12-0.12 100.00 Entry Load Not Applicable Exit Load 1% if redeemed on or before expiry of 365 days from the date of allotment. Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. ICICI Bank Ltd. Infosys Ltd. ITC Ltd. Reliance Industries Ltd. Power Grid Corporation Of India Ltd. HCL Technologies Ltd. State Bank Of India Tata Motors Ltd. Bharat Electronics Ltd. Total % to V 9.54 6.11 4.92 4.84 4.18 4.09 4.04 3.92 3.65 3.58 48.87 Industry Allocation Banks 25.94% Software 10.48% Auto 9.81% Consumer Non Durables 6.66% Cement 5.84% Petroleum Products 5.30% Industrial Capital Goods 4.93% Pharmaceuticals 4.36% Power 4.09% Finance 2.52% Non - Ferrous Metals 2.38% Gas 2.29% Construction Project 2.22% Industrial Products 2.15% Media & Entertainment 2.11% Transportation 1.77% Minerals/mining 1.22% Auto Ancillaries 1.06% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 100.00% 0.00% 0.00% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 100 (Based on internal calculation). V Movement 160 Tata Large Cap - Reg - Growth S&P BSE Sensex 146 132 118 104 90 Feb-14 Feb-15 Feb-16 Feb-17 9
Tata Equity Opportunities (An Open-Ended Equity Scheme) Sharpe Ratio Primarily focuses on investing in equity and equity related instruments of well researched value and growth oriented companies across all market capitalization. To provide income distribution and / or medium to long term capital gains while at all times emphasizing the importance of capital appreciation. February 25,1993 FUND MAGER Rupesh Patel (Managing Since Jun - 13 and overall experience of 15 years) (Equity) & Pradeep Gokhale (Managing Since Jun - 13 and overall experience of 25 years) S&P BSE 200 V - Growth - Dividend Reg - Growth Reg - Dividend Rs.1209.62 (Rs. in Cr.) Rs.1236.54 (Rs. in Cr.) 15.64 0.25 1.01 0.90 1.12 0.30 173.9099 37.1143 166.3426 29.9363 TURN OVER Portfolio Turnover (Total) 42.81% Portfolio Turnover (Equity component only) 42.81% 1.01 2.50 **Note The rates specified are the actual weighted average expenses charged for the month of Feb 2017. The above ratio includes the Service tax on Investment Management Fees. The above ratio includes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-15 cities assets, wherever applicable. MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 14.75 0.20 0.83 Risk-free rate based on the FBIL Overnight MIBOR rate of 6.05% as on Feb 28, 2017 For calculation methodology please refer to Pg 50 1% if redeemed on or before expiry of 365 days from the date of allotment. Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Tata Motors Ltd. Bajaj Auto Ltd. TVS Motor Company Ltd. Auto Ancillaries Amara Raja Batteries Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. Yes Bank Ltd. Kotak Mahindra Bank Ltd. State Bank Of India Bank Of Baroda Cement Ultratech Cement Ltd. The Ramco Cements Ltd. Dalmia Bharat Ltd. Shree Cement Ltd. Construction KNR Constructions Ltd. Construction Project Sadbhav Engineering Ltd. Larsen & Toubro Ltd. No. of Shares 66750 805000 100000 380000 170000 568335 2350000 292000 450000 1191300 1020000 101475 493100 133000 14900 1900000 1234437 174555 NCC Ltd. 3050000 Engineers India Ltd. 1200000 Sadbhav Infrastructure Project Ltd. 1456235 Techno Electric And Engineering Company Ltd. 337400 Consumer Non Durables ITC Ltd. 2330000 SIP - If you had invested INR 10000 every month Total Amount Invested (Rs.) Total Value as on Dec 31, 2016 (Rs.) Returns Total Value of B S&P BSE 200 B S&P BSE 200 Total Value of AB S&P BSE Sensex AB S&P BSE Sensex (Inception date 25-Feb-1993) (First Installment date 01-Mar-1993) 119414.67 3953.50 3672.01 2758.25 1628.11 1459.45 7895.31 6495.40 4242.18 3604.50 3206.98 1683.51 3828.09 3283.80 2531.59 2397.36 3419.05 3404.58 2566.39 2548.28 1802.40 1352.11 1256.82 6108.10 % of Assets 98.72 3.27 3.04 2.28 1.35 1.21 6.53 5.37 3.51 2.98 2.65 1.39 3.16 2.71 2.09 1.98 2.83 2.81 2.12 2.11 1.49 1.12 1.04 5.05 Other Equities^ Repo Net Current Liabilities ^ Exposure less than 1% has been clubbed under Other Equities 7501.57 1987.98 121402.65-440.49 120962.16 Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 37-47. *B Benchmark, AB Additional Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name HDFC Bank Ltd. ICICI Bank Ltd. ITC Ltd. Yes Bank Ltd. Maruti Suzuki India Ltd. Ultratech Cement Ltd. Tata Motors Ltd. Kotak Mahindra Bank Power Grid Corporation Of India Ltd. KNR Construction Total % of Assets 6.20 1.64 100.36-0.36 100.00 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception 120,000 360,000 600,000 840,000 1,200,000 2,860,000 120,828 408,556 855,124 1,323,313 2,264,433 29,108,811 1.28% 8.40% 14.15% 12.76% 12.20% 17.12% 121,789 387,443 762,418 1,136,711 1,890,441 14,857,842 2.78% 4.83% 9.52% 8.50% 8.80% 12.46% 120,756 369,668 715,735 1,070,189 1,762,496 12,395,871 1.17% 1.73% 6.99% 6.81% 7.46% 11.18% % to V 6.53 5.37 5.05 3.51 3.27 3.16 3.04 2.98 2.97 2.83 38.71 No. of Shares Gas Gujarat State Petronet Ltd. 1543000 Pharmaceuticals Glenmark Pharmaceuticals Ltd. 275000 Strides Shasun Ltd. 200000 Sun Pharmaceutical Industries Ltd. 340000 Dishman Pharmaceu & Chem Ltd. 700000 Finance Multi Commodity Exchange Of Ind Ltd. 240000 Cholamandalam Investment & Finance Co Ltd. 238000 ICICI Prudential Life Insurance Company Ltd. 550000 Industrial Capital Goods Bharat Electronics Ltd. 150000 Petroleum Products Indian Oil Corporation Ltd. 690000 Power Power Grid Corporation Of India Ltd. 1870000 Retailing Aditya Birla Fashion & Retail Ltd. 1360000 Software Infosys Ltd. 312600 HCL Technologies Ltd. 357000 Transportation Container Corporation Of India Ltd. 149500 Industry Allocation Banks Construction Project Cement Auto Pharmaceuticals Consumer Non Durables Finance Software Power Construction Transportation Petroleum Products Gas Industrial Capital Goods Retailing Auto Ancillaries Media & Entertainment 10.69% 9.95% 9.93% 8.90% 5.99% 5.77% 5.10% 2.97% 2.83% 2.28% 2.20% 1.98% 1.88% 1.77% 1.21% 0.02% 2390.88 2545.13 2325.00 2308.43 1614.90 2682.96 2314.43 1985.23 2272.43 2656.16 3590.40 2144.04 3164.45 2999.16 1821.73 25.27% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 1.98 2.10 1.92 1.91 1.34 2.22 1.91 1.64 1.88 2.20 2.97 1.77 2.62 2.48 1.51 Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 72.94% 22.42% 4.63% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 100 (Based on internal calculation). V Movement 180 Tata Equity Opportunities - Reg - Growth S&P BSE 200 162 144 126 108 90 Feb-14 Feb-15 Feb-16 Feb-17 10
Tata Ethical (An Open-Ended Equity Scheme) Sharpe Ratio An equity scheme which invests primarily in equities of Shariah compliant companies and other instrument if allowed under Shariah principles. To provide medium to long- term capital gains by investing in Shariah compliant equity and equity related instruments of well-researched value and growth - oriented companies. May 24,1996 FUND MAGER Pradeep Gokhale (Managing Since Jan-12 and overall experience of 25 years) Nifty 500 Shariah V - Growth - Dividend Reg - Growth Reg - Dividend Rs.472.55 (Rs. in Cr.) Rs.475.4 (Rs. in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 12.87 0.19 0.90 0.82 0.79-0.13 MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. 136.2231 81.9021 131.6739 63.6645 41.19% 41.19% 2.14 2.34 **Note The rates specified are the actual weighted average expenses charged for the month of Feb 2017. The above ratio includes the Service tax on Investment Management Fees. The above ratio includes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-15 cities assets, wherever applicable. 12.96 0.25 0.94 Risk-free rate based on the FBIL Overnight MIBOR rate of 6.05% as on Feb 28, 2017 For calculation methodology please refer to Pg 50 Equity & Equity Related Total Auto Maruti Suzuki India Ltd. Bajaj Auto Ltd. Hero Motocorp Ltd. Auto Ancillaries Bosch Ltd. WABCO India Ltd. Amara Raja Batteries Ltd. Cement Shree Cement Ltd. Ultratech Cement Ltd. Ambuja Cements Ltd. Chemicals Vinati Organics Ltd. Construction Project Voltas Ltd. Consumer Non Durables Hindustan Unilever Ltd. Britannia Industries Ltd. Glaxo Smithkline Con Healthcar Ltd. Colgate-Palmolive India Ltd. Fertilisers Coromandel International Ltd. Gas Gail ( India ) Ltd. Industrial Capital Goods Siemens Ltd. No. of Shares 52500 55000 19000 5200 20200 104849 9147 36500 455000 120668 150000 232000 45000 20000 86100 199875 218000 78000 46787.13 3109.50 1517.04 595.65 1122.57 1097.14 900.13 1471.72 1376.94 1041.04 876.65 558.00 2006.57 1453.14 1020.24 775.33 658.79 1127.28 940.88 % of Assets 99.01 6.58 3.21 1.26 2.38 2.32 1.90 3.11 2.91 2.20 1.86 1.18 4.25 3.08 2.16 1.64 1.39 2.39 1.99 Thermax Ltd. Ge T & D India Ltd. Ge Power India Ltd. Industrial Products Cummins India Ltd. Finolex Cables Ltd. Aia Engineering Ltd. Timken India Ltd. Fag Bearings Ltd. Pesticides Rallis India Ltd. UPL Ltd. Petroleum Products Reliance Industries Ltd. Castrol India Ltd. Indian Oil Corporation Ltd. Pharmaceuticals Cipla Ltd. Glenmark Pharmaceuticals Ltd. Sun Pharmaceutical Industries Ltd. Aurobindo Pharma Ltd. IPCA Laboratories Ltd. Sanofi India Ltd. Transportation Gujarat Pipavav Port Ltd. Other Equities^ Cash / Net Current Asset No. of Shares 76196 178000 79300 138743 181271 53000 122000 16000 412000 70000 223000 389000 252000 263469 166000 160300 145000 105836 12400 459000 656.05 531.69 476.00 1228.64 805.48 784.53 742.61 677.18 964.70 502.71 2761.30 1583.81 970.07 1536.55 1536.33 1088.36 981.94 586.01 511.73 700.89 5511.94 46787.13 467.92 47255.05 % of Assets 1.39 1.13 1.01 2.60 1.70 1.66 1.57 1.43 2.04 1.06 5.84 3.35 2.05 3.25 3.25 2.30 2.08 1.24 1.08 1.48 11.66 99.01 0.99 100.00 SIP - If you had invested INR 10000 every month ^ Exposure less than 1% has been clubbed under Other Equities 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception Total Amount Invested (Rs.) Total Value as on Dec 31, 2016 (Rs.) Returns Total Value of B Nifty 500 Shariah B Nifty 500 Shariah Total Value of AB Nifty 50 AB Nifty 50 120,000 113,686-9.63% 122,662 4.15% 121,039 1.61% 360,000 375,363 2.73% 402,580 7.40% 375,663 2.79% 600,000 794,605 11.18% 817,823 12.35% 728,381 7.69% 840,000 1,255,530 11.29% 1,239,982 10.94% 1,091,651 7.37% 1,200,000 2,240,445 12.00% 2,051,051 10.34% 1,805,100 7.92% 2,440,000 21,007,343 18.22% 4,855,658 6.31% 9,612,776 12.01% (Inception date 24-May-1996) (First Installment date 01-Sep-1996) Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 37-47. *B Benchmark, AB Additional Benchmark Source MFI Explorer ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 1% of the applicable V, if redeemed on or before 365 days from the date of allotment. (w.e.f. 6th April, 2015) Top 10 Holdings Equity Issuer Name Maruti Suzuki India Ltd. Reliance Industries Ltd. Hindustan Unilever Ltd. Castrol India Ltd. Cipla Ltd. Glenmark Pharmaceuticals Ltd. Bajaj Auto Ltd. Shree Cement Ltd. Britannia Industries Ltd. Ultratech Cement Ltd. Total % to V 6.58 5.84 4.25 3.35 3.25 3.25 3.21 3.11 3.08 2.91 38.83 Industry Allocation Pharmaceuticals Consumer Non Durables Petroleum Products Auto Industrial Products Cement Auto Ancillaries Industrial Capital Goods Gas Pesticides Software Chemicals Consumer Durables Transportation Fertilisers Construction Project Oil Retailing Healthcare Services Ferrous Metals 3.24% 3.11% 1.94% 1.86% 1.67% 1.48% 1.39% 1.18% 0.61% 0.53% 0.39% 0.36% 8.23% 6.60% 6.40% 14.19% 13.35% 11.25% 11.05% 10.17% 0.00% 5.00% 10.00% 15.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 69.42% 28.97% 1.61% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 100 (Based on internal calculation). V Movement 170 Tata Ethical - Reg - Growth Nifty 500 Shariah 154 138 122 106 90 Feb-14 Feb-15 Feb-16 Feb-17 11
Tata Equity P/E (An Open-Ended Equity Scheme) Primarily invests at least 70% of the net assets in equity shares whose rolling P/E ratio on past four quarter earnings for individual companies is less than rolling P/E of the S&P BSE SENSEX stocks. To provide reasonable and regular income and/ or possible capital appreciation to its Unitholder. June 29, 2004 FUND MAGER Sonam Udasi (Managing Since Apr - 16 and overall experience of 19 years) S&P BSE Sensex V - Growth - Dividend (Trigger Option A 5%) - Dividend (Trigger Option B 10%) Reg - Growth Reg - Dividend (Trigger Option A 5%) Reg - Dividend (Trigger Option B 10%) Rs.854.79 (Rs. in Cr.) Rs. 819.43 (Rs. in Cr.) TURN OVER Portfolio Turnover (Total) Portfolio Turnover (Equity component only) 114.9573 53.8421 50.9896 112.0946 53.4039 49.2223 102.72% 102.72% 2.13 3.34 **Note The rates specified are the actual weighted average expenses charged for the month of Feb 2017. The above ratio includes the Service tax on Investment Management Fees. The above ratio includes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-15 cities assets, wherever applicable. Sharpe Ratio PE MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 18.83 0.34 1.17 0.75 1.57 1.28 20.08 13.96 0.12 0.47 21.85 Risk-free rate based on the FBIL Overnight MIBOR rate of 6.05% as on Feb 28, 2017 For calculation methodology please refer to Pg 50 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) Equity & Equity Related Total Auto Bajaj Auto Ltd. Tata Motors Ltd. Auto Ancillaries Ceat Ltd. Banks Yes Bank Ltd. City Union Bank Ltd. Cement Grasim Industries Ltd. Chemicals Tata Chemicals Ltd. Atul Ltd. Construction KNR Constructions Ltd. Consumer Non Durables Heritage Foods Ltd. Finance Muthoot Finance Ltd. Dewan Housing Finance Corporation Ltd. Power Finance Corporation Ltd. Max Financial Services Ltd. Gas Gail ( India ) Ltd. Gujarat State Petronet Ltd. Indraprastha Gas Ltd. Industrial Products Finolex Cables Ltd. Greaves Cotton Ltd. Media & Entertainment Sun TV Network Ltd. No. of Shares 90000 360000 227000 483000 972400 399000 437000 40300 1222500 92100 1130000 1010000 2050000 170000 850000 1032079 96500 779500 1250000 145000 81025.88 2482.43 1642.14 2681.78 7017.02 1407.06 3960.27 2450.91 897.20 2199.89 1020.65 4017.72 3366.84 2786.98 959.40 4395.35 1599.21 1006.21 3463.71 2050.00 1033.71 % of Assets 94.79 2.90 1.92 3.14 8.21 1.65 4.63 2.87 1.05 2.57 1.19 4.70 3.94 3.26 1.12 5.14 1.87 1.18 4.05 2.40 1.21 Other Equities^ Repo Net Current Liabilities 1125000 400000 610000 3230000 775000 499620 480000 275000 400000 215000 107000 3620.25 1232.20 2348.20 6201.60 1589.53 1255.79 1081.92 1634.88 894.60 1348.48 1303.85 8076.10 4970.77 85996.65-517.56 85479.09 SIP - If you had invested INR 10000 every month 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception 4.24 1.44 2.75 7.26 1.86 1.47 1.27 1.91 1.05 1.58 1.53 9.45 5.82 100.61-0.61 100.00 Total Amount Invested (Rs.) Total Value as on Dec 31, 2016 (Rs.) Returns Total Value of B S&P BSE Sensex B S&P BSE Sensex (Inception date 29-Jun-2004) (First Installment date 01-Jul-2004) 120,000 133,031 20.78% 120,756 1.17% 360,000 460,069 16.61% 369,668 1.73% 600,000 992,562 20.25% 715,735 6.99% 840,000 1,522,273 16.69% 1,070,189 6.81% 1,200,000 2,767,673 15.95% 1,762,496 7.46% 1,500,000 4,647,374 16.82% 2,783,229 9.41% Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 37-47. *B Benchmark Source MFI Explorer Top 10 Holdings Equity Issuer Name Yes Bank Ltd. Power Grid Corporation Of India Ltd. Gail (india) Ltd. Muthoot Finance Ltd. Grasim Industries Ltd. Coal India Ltd. Finolex Cables Ltd. Dewan Housing Fin Corporation Ltd. Power Finance Corporation Ceat Ltd. Total % to V 8.21 7.26 5.14 4.70 4.63 4.24 4.05 3.94 3.26 3.14 48.57 Minerals/Mining Coal India Ltd. Non - Ferrous Metals Hindustan Zinc Ltd. Petroleum Products Indian Oil Corporation Ltd. Power Power Grid Corporation Of India Ltd. Torrent Power Ltd. Retailing Future Retail Ltd. Services Talwalkars Better Value Fitness Ltd. Software Mphasis Ltd. Hexaware Technologies Ltd. Textile Products Raymond Ltd. Transportation Container Corporation Of India Ltd. No. of Shares ^ Exposure less than 1% has been clubbed under Other Equities % of Assets Industry Allocation Finance 13.93% Banks 11.66% Power 9.11% Gas 8.19% Industrial Products 6.45% Minerals/mining 5.21% Auto 4.83% Cement 4.63% Software 3.95% Chemicals 3.92% Construction 3.34% Auto Ancillaries 3.14% Petroleum Products 2.75% Textile Products 2.42% Media & Entertainment 2.10% Consumer Non Durables 1.68% Transportation 1.53% Retailing 1.47% Non - Ferrous Metals 1.44% Services 1.27% Consumer Durables 0.98% Fertilisers 0.81% 0.00% 5.00% 10.00% 15.00% Market Capitalisation wise Exposure Large Cap Mid Cap Small Cap 49.77% 42.56% 7.67% Market Capitalisation includes only domestic listed Equity exposure in BSE. Large Cap Companies are top 125 stocks by market capitalisation on S&P BSE 500 Index and Mid Cap stocks are those between 126 to 499 stocks by market capitalisation and 500 & above being classified as Small cap. For calculation purpose, the previous month market capitalisation data have been used. All the figures has been rebased to 100 (Based on internal calculation). V Movement 220 Tata Equity P/E - Reg - Growth S&P BSE Sensex 194 168 142 116 90 Feb-14 Feb-15 Feb-16 Feb-17 12
Tata Mid Cap Growth (An Open-Ended Equity Scheme) An equity scheme with focus towards mid cap stocks. To provide income distribution and / or medium to long term capital gains. Investments would be focused towards mid-cap stocks. July 1, 1994 FUND MAGER Rupesh Patel (Managing Since Apr - 16 and overall experience of 15 years) (Equity), Danesh Mistry (Managing Since Apr - 16 and overall experience of 13 years) Nifty Free Float Midcap 100 V - Growth - Dividend - Bonus Reg - Growth Reg - Dividend Reg - Bonus Rs.571.11 (Rs. in Cr.) MINIMUM INVESTMENT/ Rs. 5,000/- and in multiples of Re. 1/- thereafter. ADDITIOL INVESTMENT/ MULTIPLES FOR EXISTING INVESTORS Rs. 1,000/- and multiples of Re. 1/- thereafter. Entry Load Not Applicable Exit Load 118.7370 44.9540 108.9534 # 115.1441 37.6273 107.1855 # Plans are available for subscription under all open ended schemes of Tata Mutual w.e.f 1st January 2013. Separate V will be calculated & published for respective option(s) of the Plan upon initial subscription. Rs.571.44 (Rs. in Cr.) TURN OVER Portfolio Turnover (Total) 44.59% Portfolio Turnover (Equity component only) 44.59% 2.11 2.68 **Note The rates specified are the actual weighted average expenses charged for the month of Feb 2017. The above ratio includes the Service tax on Investment Management Fees. The above ratio includes, proportionate charge (out of maximum 30 bps on daily average net assets allowed) in respect sales beyond T-15 cities assets, wherever applicable. Sharpe Ratio 19.20 0.34 1.04 0.90 1.78 0.03 17.56 0.35 1.76 Risk-free rate based on the FBIL Overnight MIBOR rate of 6.05% as on Feb 28, 2017 For calculation methodology please refer to Pg 50 1% if redeemed on or before expiry of 365 days from the date of allotment (w.e.f. 6th April, 2015) Equity & Equity Related Total Auto Atul Auto Ltd. Auto Ancillaries Exide Industries Ltd. WABCO India Ltd. Amara Raja Batteries Ltd. Banks Yes Bank Ltd. City Union Bank Ltd. DCB Bank Ltd. Satin Creditcare Netwotk Ltd. Cement Shree Cement Ltd. The Ramco Cements Ltd. Dalmia Bharat Ltd. J K Cement Ltd. Chemicals Navin Fluorine International Ltd. Vinati Organics Ltd. Solar Industries India Ltd. Construction KNR Constructions Ltd. Somany Ceramics Ltd. NBCC India Ltd. Construction Project Sadbhav Engineering Ltd. NCC Ltd. Sadbhav Infrastructure Project Ltd. Engineers India Ltd. Consumer Durables IFB Industries Ltd. Blue Star Ltd. Consumer Non Durables CCL Products India Ltd. Finance Muthoot Finance Ltd. Multi Commodity Exchange Of Ind Ltd. Power Finance Corporation Ltd. Gas Gujarat State Petronet Ltd. Top 10 Holdings Equity Issuer Name Yes Bank Ltd. Future Retail Ltd. Glenmark Pharmaceuticals Ltd. KNR Construction Shree Cement Ltd. Exide Industries Ltd. Future Consumer Ltd. Strides Shasun Ltd. Sadbhav Engineering Ltd. IFB Industries Ltd. Total No. of Shares 160000 700000 25000 150000 163000 800000 600000 158394 10000 200000 61000 100000 49999 145000 125000 1000000 157800 375000 500000 1400000 1000000 400000 225000 200000 225000 225000 65000 425000 750000 56015.93 670.24 1482.60 1357.85 1287.75 2368.06 1157.60 935.70 658.60 1608.97 1331.90 1161.10 884.20 1272.65 1053.43 893.44 1799.50 979.54 633.38 1379.00 1169.70 928.50 600.80 1364.29 1130.00 769.05 799.99 726.64 577.79 1162.13 % of Assets 98.08 1.17 2.60 2.38 2.25 4.15 2.03 1.64 1.15 2.82 2.33 2.03 1.55 2.23 1.84 1.56 3.15 1.72 1.11 2.41 2.05 1.63 1.05 2.39 1.98 1.35 1.40 1.27 1.01 2.03 % to V 4.15 3.30 3.24 3.15 2.82 2.60 2.53 2.44 2.41 2.39 29.03 Petronet Lng Ltd. Hotels, Resort, And Recreational Activities Adlabs Entertainment Ltd. Industrial Capital Goods Bharat Electronics Ltd. Industrial Products AIA Engineering Ltd. Fag Bearings Ltd. Mahindra CIE Automotive Ltd. Media & Entertainment Inox Leisure Ltd. Pesticides Rallis India Ltd. P.I. Industries Ltd. Bayer Cropscience Ltd. Dhanuka Agritech Ltd. Pharmaceuticals Glenmark Pharmaceuticals Ltd. Strides Shasun Ltd. Piramal Enterprises Ltd. Sequent Scientific Ltd. Retailing Future Retail Ltd. Future Consumer Ltd. Aditya Birla Fashion & Retail Ltd. Software Tata Elxsi Ltd. Textile Products Trident Ltd. Other Equities^ Repo Net Current Liabilities No. of Shares 200000 750000 70000 85000 25000 400000 425000 550000 100000 20000 82000 200000 120000 60000 491000 750000 5100000 800000 50000 1200000 ^ Exposure less than 1% has been clubbed under Other Equities 812.20 645.00 1060.47 1258.21 1058.09 800.00 1043.38 1287.83 848.00 773.70 637.71 185 1395.00 1106.61 673.16 1885.13 1443.30 1261.20 750.68 861.60 2419.26 1597.08 57613.01-502.13 57110.88 % of Assets 1.42 SIP - If you had invested INR 10000 every month 1 Year 3 Year 5 Year 7 Year 10 Year Since Inception Total Amount Invested (Rs.) Total Value as on Dec 31, 2016 (Rs.) Returns Total Value of B Nifty Free Float Midcap 100 B Nifty Free Float Midcap 100 Total Value of AB Nifty 50 AB Nifty 50 120,000 119,860-0.22% 124,103 6.41% 121,039 1.61% 360,000 424,625 11.03% 432,405 12.28% 375,663 2.79% 600,000 981,853 19.80% 894,722 15.99% 728,381 7.69% 840,000 1,563,119 17.43% 1,328,799 12.88% 1,091,651 7.37% 1,200,000 2,780,290 16.03% 2,305,459 12.54% 1,805,100 7.92% 2,700,000 14,973,873 16.56% 12,876,236 15.20% 8,691,245 11.56% (Inception date 01-Jul-1994) (First Installment date 01-Jul-1994) Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized. Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken in to consideration. For SIP returns, monthly investment of equal amounts invested on the 1st day of every month has been considered. For scheme performance refer pages 37-47 *B Benchmark, AB Additional Benchmark Source MFI Explorer 1.13 1.86 2.20 1.85 1.40 1.83 2.26 1.48 1.35 1.12 3.24 2.44 1.94 1.18 3.30 2.53 2.21 1.31 1.51 4.24 2.80 100.88-0.88 100.00 Industry Allocation Banks 9.95% Pharmaceuticals 8.80% Cement 8.73% Retailing 8.04% Auto Ancillaries 7.23% Construction Project 7.14% Industrial Products 6.26% Pesticides 6.21% Construction 5.98% Chemicals 5.64% Consumer Durables 4.37% Finance 3.68% Gas 3.46% Software 2.26% V Industrial Capital Goods 1.86% Media & Entertainment 1.83% Textile Products 1.51% Transportation 1.50% Consumer Non Durables 1.35% Auto 1.17% Hotels, Resort And Other Recreational 1.13% 0.00% 5.00% 10.00% 15.00% V Movement 230 Tata Mid Cap Growth - Reg - Dividend Nifty Free Float Midcap 100 204 178 152 126 100 Feb-14 Feb-15 Feb-16 Feb-17 13