Edelweiss Fund Score Book (Jul-Sep 2008)

Edelweiss Fund Score Book (Jul-Sep 2008)

Mutual Funds are becoming the most popular investment vehicle offering various kinds of schemes with different investment objectives. Mutual Funds offer investors the facility to easily invest in increasingly more complicated financial markets. The key benefits offered by Mutual Funds are diversification, professional management and liquidity. At Edelweiss, we offer life-cycle financial solutions to high net-worth individuals, families, Non-Resident Indians, Trusts & Corporations. For facilitating the same we have a dedicated Mutual Fund Advisory Desk (MFA Desk). We have constructed a comprehensive Mutual Funds research model Edelweiss Fu n d S c o r e b o o k. E d e l w e i s s Fu n d Scorebook is the product of extensive research done by us over a period of time. We have zeroed in on certain schemes that have passed the acid test and appeal to us as the better funds on a risk return spectrum. The Edelweiss Edge:????? Dedicated Mutual Fund Research Analysis Need base advisory fully backed with solid research Get Advisory Execution and Monitoring services under one roof Regular (Monthly) and stringent Monitoring of your portfolio Knowledge sharing through educational seminars and workshops

1. Equity Funds Recommendation Process 2. Large-Cap Funds 6-15 (a) DSP ML Equity Fund 6-7 75 (b) SBI Magnum Equity Fund 8-9 75 (c) Birla Sun Life Frontline Equity Fund 10-11 73 (d) Franklin India Prima Plus 12-13 68 (e) HDFC Top 200 14-15 66 3. Mid-Cap Funds 16-23 (a) Reliance Growth 16-17 83 (b) Sundaram BNP Paribas Select Mid Cap 18-19 72 (c) Birla Sun Life Mid Cap Fund 20-21 69 (d) ICICI Prudential Emerging STAR Fund 22-23 59 4. Opportunity Funds 24-31 (b) Birla Sun Life Equity Fund 26-27 71 (c) SBI Magnum Multiplier Plus 93 28-29 71 (d) DSP ML Opportunities Fund 30-31 68 5. Thematic Funds 32-35 (a) Tata Infrastructure Fund 32-33 75 (b) DSP ML India Tiger Fund 34-35 72 6. Value Funds 36-37 (a) SBI Magnum Sector Umbrella Contra 36-37 92 7. Tax Planning Funds 38-45 (a) Principal Tax Savings Fund 38-39 78 (b) Sundaram BNP Paribas Tax Saver 40-41 78 (c) SBI Magnum Tax Gain Scheme 93 42-43 76 (d) Birla Sun Life Tax Relief 96 44-45 72 (a) Kotak Opportunities Fund 24-25 79

1. Due diligence on Asset Management Companies (AMCs) Focus on various qualitative parameters such as AMCs pedigree, sponsors background, Assets under Management, service capabilities and management team Regular interaction with AMC marketing or product team & fund managers for appraising any change in investment process and philosophy Quarterly update on the fund in terms of the fund manager s view on the fund 2. Classifying schemes by their investment style Diversified Equity Funds: - Large Cap Funds Mid Cap Funds Opportunity Funds Thematic Funds Value Funds Tax Planning Funds 3. Assets Under Management & Period of Existence Select Funds having Performance Track Record with consistent AUM. Smaller sized funds are exposed to risk of huge recommendations from single investor. Compute the individual scheme AUM average over last three months, then shortlist the funds if the average for:- Diversified Equity scheme is above Rs. 200 crore and has completed one-year performance Equity Linked Saving Scheme is above Rs. 75 crore and has completed one-year performance 4. Risk Return Analysis Risk Parameters: - Beta, Semi-Standard Deviation and Standard Deviation. Consistency Parameters: - R-Squared Risk Adjusted Returns Parameters: - Treynor Ratio, Information Ratio and Sortino Ratio Pure Return/Performance Parameters: - Jenson s Alpha, Average Returns and 1&3 year returns

DSP Merrill Lynch Equity Fund LARGE CAP FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 11.02 0.00 Fund Information NAV Growth Plan Rs. 9.98, Dividend Plan Rs. 38.17 Corpus Inception Date Rs. 1090.63 crores 15-Apr-97 52 Week High Growth Rs. 15.83, Dividend Rs. 69.13 52 Week Low Growth Rs. 9.80, Dividend Rs. 38.17 Benchmark Fund Manager Entry Load Exit Load Investment Objective S&P Nifty Apoorva Shah Amount Bet. 0 to 49999999 then Entry load is 2.25% and Amount greater than 50000000 then Entry load is 0%. If redeemed bet. 0 Months to 6 Months; Exit load is 1%. If redeemed bet. 6 Months to 12 Months; Exit load is 0.5%. Aims to provide long term capital appreciation from a portfolio substantially constituted of equity and equity related securities. Fund Strategy With a blend of large caps & larger mid-cap stocks, the fund bears a risk profile similar to that of a typical diversified fund. The portfolio is tightly packed with around 80 stocks. The fund does not take concentrated bets; exposure to any single stock is restricted to maximum four per cent in most cases. In a rising market, this level of diversification might not help performance, as sharp price movements of a single stock would not have a significant impact on returns. Risk - Return Attributes 88.98 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 40.35 P/B Ratio 6.07 Div. Yield 1.24% Market Cap Rs. 26995.31 crores Description Large Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 75 6 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 32.73% Top 5 Holdings 17.20% Top 10 Holdings 28.92% Market Capitalisation Range Categorisation % of Net Assets Very Large 45.52 Large 20.06 Mid 19.43 Small 2.71 Very Small -- Debt & Cash 12.29 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 25-Jan-08 70 49.05 25-Jan-07 70 40.66 19-Dec-05 60 31.12 14-Jun-05 40 26.71 26-Mar-04 40 20.60 60% 50% 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% 4.70 6.44 7.24 Sectoral Allocation 2.98 3.02 3.17 7.93 Computers - Software & Education Engineering & Industrial Machinery Food & Dairy Products Steel Oil & Gas, Petroleum & Refinery 11.64 9.72 Telecom Finance Pharmaceuticals Entertainment 11.36 Fertilizers, Pesticides & Agrochemicals Holdings Top Ten Holding % of NAV Bharti Airtel Ltd. 4.33 Reliance Industries Ltd. 3.65 Infosys Technologies Ltd. 3.31 Hindustan Lever Ltd. 2.99 Tata Consultancy Services Ltd. 2.92 Larsen & Toubro Limited 2.76 Nestle India Ltd. 2.64 Housing Dev. Finance Corp. Ltd. 2.27 Cairn India Ltd. 2.12 Bharat Electronics Ltd. 1.93 Performance (%) DSP Merrill Lynch Equity Fund S&P Nifty Rel Return 3 Months -12.45-18.24 5.79 6 Months -33.96-33.54-0.42 1 Year -4.09-6.40 2.31 2 Years 22.07 13.63 8.44 3 Years 31.49 22.06 9.43 5 Years 43.06 28.89 14.17 Since Inception 25.63 12.74 12.89 DSP Merrill Lynch Equity Fund S&P Nifty Relative Performance Comparison Edelweiss Benchmark (S&P Nifty) Category Average DSP Merrill Lynch Equity Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -40-20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 7 Mutual Funds Advisory

SBI Magnum Equity Fund LARGE CAP FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 9.44 0.00 Fund Information NAV Growth Plan Rs. 27.68, Dividend Plan Rs. 24.34 Corpus Rs. 279.53 crores Inception Date 1-Jan-91 52 Week High Growth Rs. 48.49, Dividend Rs. 42.62 52 Week Low Growth Rs. 27.68, Dividend Rs. 24.34 Benchmark BSE100 Fund Manager Jayesh Shroff Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25% and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Months to 6 Months; and Amount Bet. 0 to 49999999 then Exit load is 1%. If redeemed bet. 6 Months to 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 0.5%. If redeemed after 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 0%. and Amount greater than 50000000 then Exit load is 0%. Investment The scheme invests in companies having sustainable Objective competitive advantage owing to their leadership in either technology, brands, distribution network and adopts bottom-up approach in choosing companies. Fund Strategy? A diversified equity fund, focusing on aggressive growth through investments in large cap stocks. Ideal for investors who wish to benefit from the growth of the equity markets and are comfortable with the attendant volatility.? The fund is a good concentrated bet in the large cap fund space. Also, the fund size being small the fund is able to take significant stakes in less number of stocks.? The fund has a concentrated portfolio with approximately 20 stocks with focused large cap picks Risk - Return Attributes 90.56 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 29.47 P/B Ratio 4.9 Div. Yield 0.71% Market Cap Rs. 44207.63 crores Description Large Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 75 8 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 26.45% Top 5 Holdings 34.34% Top 10 Holdings 56.43% Market Capitalisation Range Categorisation % of Net Assets Very Large 61.90 Large 26.66 Mid 2.01 Small -- Very Small -- Debt & Cash 9.44 Dividend History (Last 5 dividend) Month Dividend (%) Ex-Dividend NAV 7-Nov-07 50 36.17 3-Oct-06 50 23.82 29-Dec-03 20 12.89 23-Oct-03 14 11.87 15-Mar-00 22 29.99 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Jun-06 Mar-07 Mar-08 Dec-05 Mar-06 Sep-06 Dec-06 Jun-07 Sep-07 Dec-07 Jun-08-40% 5.99 6.93 Sectoral Allocation 5.78 7.22 Pharmaceuticals Textiles Fertilizers, Pesticides & Agrochemicals Electricals & Electrical Equipments Banks 7.66 4.62 10.66 7.74 Telecom Steel 7.91 7.89 Housing & Construction Oil & Gas, Petroleum & Refinery Engineering & Industrial Machinery Holdings Top Ten Holding % of NAV Sun Pharmaceuticals Industries Ltd. 7.90 Jindal Steel and Power Ltd. 7.74 Bharat Heavy Electricals Ltd. 6.93 Reliance Industries Ltd. 5.99 Kotak Mahindra Bank Ltd. 5.78 Bharti Airtel Ltd. 5.16 Larsen & Toubro Limited 4.62 Aditya Birla Nuvo Limited. 4.18 Tata Chemicals Ltd. 4.15 JaiPrakash Associates Ltd. 3.99 Performance (%) SBI Magnum Equity Fund BSE 100 Rel Return 3 Months -18.83-18.30-0.53 6 Months -40.66-36.49-4.17 1 Year -9.52-7.53-1.99 2 Years 14.56 14.27 0.29 3 Years 26.15 22.73 3.42 5 Years 36.56 31.00 5.56 Since Inception 15.22 -- SBI Magnum Equity Fund BSE 100 Edelweiss Benchmark (S&P Nifty) Category Average SBI Magnum Equity Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 9 Mutual Funds Advisory

Birla SunLife Frontline Equity Fund LARGE CAP FUND Market Capitalisation Small Mid Large 14.63 0.00 Investment Style Growth Blend Value Asset Allocation Fund Information NAV Growth Plan Rs. 52.88, Dividend Plan Rs. 18.57 Corpus Inception Date Investment Objective Rs. 351.46 crores 30-Aug-02 52 Week High Growth Rs. 83.52, Dividend Rs. 29.33 52 Week Low Growth Rs. 52.88, Dividend Rs. 18.57 Benchmark Fund Manager BSE200 Mahesh Patil Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. Exit Load If redeemed bet. 0 Year to 1 Year; and Amount Bet. 0 to 49999999 then Exit load is 1%. Primary objective is growth of capital and secondary objective is income generation and distribution of dividend. Fund Strategy Birla Sun Life Frontline Equity Fund is a diversified equity fund that invests in handpicked frontline stocks (i.e. stocks which have the potential of providing superior growth opportunities) ensuring exposure to all leading sectors of its chosen benchmark, thus resulting in a well diversified portfolio. Investing across sectors ensures diversification and at the same time investing in frontline stocks provides for a possibility of higher returns. The scheme targets the same sectoral weights within its portfolio as the benchmark, the BSE 200. However, the choice of stocks is not limited to the benchmark, thus providing a wider universe of investible stocks. Birla Sun Life Frontline Equity Fund is ideal for investors looking at investing in quality stocks across the leading sectors of the economy. Risk - Return Attributes 85.37 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 20.65 P/B Ratio 4.23 Div. Yield 1.24% Market Cap Rs. 39658.42 crores Description Large Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 73 10 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 33.99% Top 5 Holdings 21.78% Top 10 Holdings 34.81% Market Capitalisation Range Categorisation % of Net Assets Very Large 55.83 Large 19.15 Mid 7.66 Small 1.13 Very Small -- Debt & Cash 16.22 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 29-Jun-07 40 19.86 28-Aug-06 60 17.65 27-Feb-06 80 20.88 14-Oct-04 10 15.74 31-Mar-04 20 16.87 30% 20% 10% 0% -10% -20% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-30% 3.81 3.87 5.02 3.69 Sectoral Allocation 3.60 9.15 3.44 Oil & Gas, Petroleum & Refinery Computers - Software & Education Electricals & Electrical Equipments Pharmaceuticals Banks 14.71 9.39 Finance Tobacco & Pan Masala Telecom Steel Power Generation, Transmission & Equip 9.89 Holdings Top Ten Holding % of NAV Reliance Industries Ltd. 6.35 Bharti Airtel Ltd. 4.99 ITC Ltd. 3.69 Tata Consultancy Services Ltd. 3.53 Reliance Communication Ventures Ltd. 3.22 Oil & Natural Gas Corpn. Ltd. 2.77 Tata Steel Ltd. 2.74 Infosys Technologies Ltd. 2.57 Larsen & Toubro Limited 2.53 ICICI Bank Ltd. 2.41 Performance (%) Birla SunLife Frontline Equity Fund BSE 200 Rel Return 3 Months -16.59-18.31 1.72 6 Months -34.20-37.53 3.33 1 Year -6.54-8.85 2.31 2 Years 18.58 13.72 4.86 3 Years 27.51 21.20 6.31 5 Years 33.96 29.43 4.53 Since Inception 18.42 23.44-5.02 Birla SunLife Frontline Equity Fund BSE 200 Edelweiss Benchmark (S&P Nifty) Category Average Birla SunLife Frontline Equity Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -40-20 0 20 40 Edelweiss Fund Score Book (Jul-Sep 2008) 11 Mutual Funds Advisory

Franklin India Prima Plus LARGE CAP FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 5.42 0.01 Fund Information NAV Growth Plan Rs. 137.12, Dividend Plan Rs. 26.23 Corpus Inception Date Rs. 1306.84 crores 28-Sep-94 52 Week High Growth Rs. 217.08, Dividend Rs. 48.67 52 Week Low Growth Rs. 137.12, Dividend Rs. 26.23 Benchmark Fund Manager Entry Load CNX500 Anand Radhakrishnan Amount Bet. 0 to 49999999 then Entry load is 2.25% and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Months to 6 Months; and Amount Bet. 0 to 49999999 then Exit load is 1%. If redeemed bet. 6 Months to 12 Months; and Amount greater than 50000000 then Exit load is 0.5%. Investment Objecitve Aims to achieve growth of capital and dividend through a diversified portfolio. Fund Strategy Franklin India Prima Plus invests in wealth creating companies (generate return on capital in excess of their cost of capital). The fund covers predominantly large cap stocks with some exposures to mid/small cap stocks. Portfolio is adequately diversified across sectors and across stocks within a sector. This ensures that the downside risk of a single sector or stock not doing well is minimized. Key Factors -? Focus on company fundamentals and not on momentum? Independent thinking? Avoid fads and unsustainable trends? Identify emerging category leaders? Read changes in industry trends early? Continuous increase in depth of research Risk - Return Attributes 94.57 Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 27.99 P/B Ratio 7.21 Div. Yield 0.99% Market Cap Rs. 30381.87 crores Description Mid Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev Quartile Analysis Sortino Information Treynor R-Squared Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 68 12 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 30.05% Top 5 Holdings 33.91% Top 10 Holdings 50.67% Market Capitalisation Range Categorisation % of Net Assets Very Large 62.70 Large 15.82 Mid 12.41 Small 1.72 Very Small -- Debt & Cash 7.35 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 13-Feb-08 60 34.89 7-Mar-07 30 28.98 15-Nov-06 60 32.59 9-Nov-05 55 23.95 27-Oct-04 40 19.00 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% 4.82 6.88 4.79 Sectoral Allocation 8.58 4.19 3.94 8.69 Computers - Software & Education Entertainment Food & Dairy Products Auto & Auto ancilliaries Finance 13.51 Telecom 9.66 10.88 Oil & Gas, Petroleum & Refinery Engineering & Industrial Machinery Banks Electricals & Electrical Equipments Holdings Top Ten Holding % of NAV Infosys Technologies Ltd 9.38 Bharti Airtel Ltd 6.94 Reliance Industries Ltd 6.63 Housing Dev. Finance Corp. Ltd 6.14 Nestle India Ltd 4.82 Infrastructure Dev Finance company 3.72 Satyam Computer Services Ltd 3.54 Larsen & Toubro Limited 3.25 Tata Steel Ltd. 3.19 ABB Ltd 3.06 Performance (%) Franklin India Prima Plus CNX500 Rel Return 3 Months -16.60-19.33 2.73 6 Months -34.58-39.38 4.80 1 Year -12.05-11.59-0.46 2 Years 16.90 11.79 5.11 3 Years 25.66 18.87 6.79 5 Years 36.32 29.03 7.29 Since Inception 20.96 8.16 12.8 Franklin India Prima Plus CNX500 Edelweiss Benchmark (S&P Nifty) Category Average Franklin India Prima Plus Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -40-20 0 20 40 Edelweiss Fund Score Book (Jul-Sep 2008) 13 Mutual Funds Advisory

HDFC Top 200 LARGE CAP FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 5.84 0.00 Fund Information NAV Growth Plan Rs. 115.42, Dividend Plan Rs. 34.19 Corpus Rs. 2026.83 crores Inception Date 31-Aug-96 52 Week High Growth Rs. 173.74, Dividend Rs. 57.46 52 Week Low Growth Rs. 115.42, Dividend Rs. 34.19 Benchmark BSE 200 Fund Manager Prashant Jain Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Months to 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 1%. and Amount greater than 50000000 then Exit load is 0%. Investment To generate long term capital appreciation by investing in a portfolio of equities and equity linked instruments drawn from the BSE 200 Index. Fund Strategy HDFC Top 200 Fund offers an exposure to a diversified basket of large-cap stocks well-suited to conservative investors. The fund offers a relatively high degree of comfort in a volatile market due to its long track record of market out-performance, ability to handle downside risks well and a portfolio of quality stocks with a large-cap orientation. The fund is an "index-plus" fund, which draws its portfolio mainly from the BSE 200 basket. Despite the defined investment universe, the fund is quite actively managed on two counts.? One, the fund usually holds no more than 50-60 stocks of the BSE-200 constituents, allowing investors to participate in select stocks with good potential.? Second, it takes significant overweight and underweight positions in sectors and stocks relative to the index. Its substantial outperformance of the BSE-200 over a five-year period shows that these active calls have added significant value over the years despite its "indexplus" mandate. Risk - Return Attributes 94.16 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 21.89 P/B Ratio 5.51 Div. Yield 1.02% Market Cap Rs. 33410.95 crores Description Large Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 66 14 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 37.62% Top 5 Holdings 24.89% Top 10 Holdings 40.86% Market Capitalisation Range Categorisation % of Net Assets Very Large 55.23 Large 31.53 Mid 7.40 Small -- Very Small -- Debt & Cash 5.84 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 7-Feb-08 50 43.13 7-Feb-07 50 37.97 17-Feb-06 45 31.81 15-Dec-04 30 21.12 8-Mar-04 15 20.46 30% 20% 10% 0% -10% -20% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-30% 4.47 5.25 4.36 6.15 Banks Sectoral Allocation 3.89 3.77 8.29 Oil & Gas, Petroleum & Refinery Food & Dairy Products Finance Pharmaceuticals 15.63 9.36 12.63 Auto & Auto ancilliaries Engineering & Industrial Machinery Computers - Software & Education Electricals & Electrical Equipments Tobacco & Pan Masala Holdings Top Ten Holding % of NAV ICICI Bank Ltd. 7.39 Infosys Technologies Ltd. 5.23 Reliance Industries Ltd. 4.65 ITC Ltd. 3.89 Dr Reddys Laboratories Ltd. 3.73 Larsen & Toubro Limited 3.61 Bharti Airtel Ltd. 3.27 Sun Pharmaceuticals Industries Ltd. 3.26 Crompton Greaves Ltd. 3.23 Tata Steel Ltd. 2.60 Performance (%) HDFC Top 200 BSE 200 Rel Return 3 Months -15.13-18.31 3.18 6 Months -31.25-37.53 6.28 1 Year -4.06-8.85 4.79 2 Years 15.94 13.72 2.22 3 Years 26.23 21.20 5.03 5 Years 37.60 29.43 8.17 Since Inception 25.05 15.18 9.87 HDFC Top 200 BSE 200 Edelweiss Benchmark (S&P Nifty) Category Average HDFC Top 200 Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -40-20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 15 Mutual Funds Advisory

Reliance Growth MID CAP FUND Market Capitalisation Small Mid Large 27.59 Investment Style Growth Blend Value Asset Allocation Fund Information NAV Growth Plan Rs. 301.71, Dividend Plan Rs. 45.81 Corpus Rs. 4511.13 crores Inception Date 7-Oct-95 52 Week High Growth Rs. 491.00, Dividend Rs. 84.76 52 Week Low Growth Rs. 288.14, Dividend Rs. 45.81 Benchmark BSE100 Fund Manager Sunil Singhania Entry Load Amount Bet. 0 to 19999999 then Entry load is 2.25%. and Amount Bet. 20000000 to 49999999 then Entry load is 1.25%. and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Year to 1 Year; and Amount Bet. 0 to 49999999 then Exit load is 1%. and Amount greater than 50000000 then Exit load is 0%. Investment Seeks to provide Long Term Capital Appreciation Objective Fund Strategy? The fund is a 12 year old mid cap focused fund and presently is the largest mid cap fund? Also the fund has consistently demonstrated the ability to deliver the market and competition beating returns especially in buoyant market conditions.? The fund also maintains an exciting mix of both large cap and mid cap holdings to boost the portfolio returns.? The fund is suitable for investors with moderate risk appetite. Also the fund is moderately diversified with 25 odd stocks in its portfolio. 0.00 72.41 Risk - Return Attributes Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 32.14 P/B Ratio 4.31 Div. Yield 0.44% Market Cap Rs. 28102.52 crores Description Mid Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 83 16 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 18.73% Top 5 Holdings 16.95% Top 10 Holdings 27.68% Market Capitalisation Range Categorisation % of Net Assets Very Large 14.87 Large 16.05 Mid 13.67 Small 2.21 Very Small -- Debt & Cash 53.19 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 19-Mar-08 65 47.42 17-Aug-07 35 52.04 12-Mar-07 75 47.16 30-Oct-06 25 53.08 29-Mar-06 75 50.90 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% 2.36 2.37 Sectoral Allocation 2.32 3.02 Pharmaceuticals 2.06 Oil & Gas, Petroleum & Refinery Fertilizers, Pesticides & Agrochemicals Mining & Minerals Plastic 1.93 3.59 7.14 Steel 5.21 Telecom Trading 6.39 Auto & Auto ancilliaries Housing & Construction Holdings Top Ten Holding % of NAV Divis Laboratories Limited 4.57 Jindal Steel and Power Ltd. 3.60 Reliance Industries Ltd. 3.42 Jindal Saw Ltd. 2.78 Lupin Ltd. 2.57 Adani Enterprises Ltd. 2.37 Gujarat Mineral Dev. Corporation Ltd. 2.36 Jain Irrigation Systems Ltd. 2.06 Reliance Communication Ventures Ltd. 2.00 JaiPrakash Associates Ltd. 1.93 Performance (%) Reliance Growth BSE100 Rel Return 3 Months -11.84-18.30 6.46 6 Months -35.03-36.49 1.46 1 Year -1.86-7.53 5.67 2 Years 22.94 14.27 8.67 3 Years 30.83 22.73 8.10 5 Years 50.79 31.00 19.79 Since Inception 30.67 14.09 16.58 Reliance Growth BSE 100 Edelweiss Benchmark (CNX Midcap) Category Average Reliance Growth Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -50 0 50 100 Edelweiss Fund Score Book (Jul-Sep 2008) 17 Mutual Funds Advisory

Sundaram BNP Paribas Select Midcap MID CAP FUND Market Capitalisation Small Mid Large 26.85 Investment Style Growth Blend Value Asset Allocation Fund Information NAV Growth Plan Rs. 87.31, Dividend Plan Rs. 14.96 Corpus Inception Date Rs. 1408.00 crores 19-Jul-02 52 Week High Growth Rs. 155.36, Dividend Rs. 26.62 52 Week Low Growth Rs. 87.31, Dividend Rs. 14.96 Benchmark Fund Manager BSE MID CAP Satish Ramanathan Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. and Amount greater than 50000000 then Entry load is 0%. Exit Load Investment Objective If redeemed bet. 0 Months to 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 1%. and Amount greater than 50000000 then Exit load is 0%. To achieve capital appreciation Fund Strategy A large part of Sundaram Select Midcap s impressive showing can be attributed to its fund management style and stock picks. The fund has a propensity for holding a well-diversified stock portfolio. The fund generally holds between 55-60 stocks in its portfolio with no stock accounting for more than 5% of the corpus. This style of fund management helps de-risk the portfolio especially while dealing with high risk investment propositions like mid cap stocks. Also the fund has not shied away from erring on the side of caution and holding a portion of its assets in cash/current assets for want of attractive investment opportunities. Clearly, the fund s portfolio management style has yielded attractive dividends. 0.00 73.15 Risk - Return Attributes Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 19.05 P/B Ratio 2.58 Div. Yield 1.42% Market Cap Rs. 3622.22 crores Description Mid Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 72 18 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 22.70% Top 5 Holdings 13.35% Top 10 Holdings 23.41% Market Capitalisation Range Categorisation % of Net Assets Very Large -- Large 24.93 Mid 43.19 Small 2.32 Very Small -- Debt & Cash 29.56 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 9-Feb-07 25 16.28 27-Oct-06 40 17.10 18-Aug-06 20 19.10 17-Feb-06 25 17.42 23-Sep-05 20 15.76 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% Banks 4.04 4.91 Sectoral Allocation 3.00 2.87 5.00 Housing & Construction Pharmaceuticals 2.70 Oil & Gas, Petroleum & Refinery Cement 5.37 8.97 5.74 7.99 Fertilizers, Pesticides & Agrochemicals Auto & Auto ancilliaries Steel Textiles Chemicals Holdings Top Ten Holding % of NAV Tata Chemicals Ltd. 3.46 Monnet Ispat Ltd. 2.62 Trent Ltd. 2.47 Union Bank Of India Ltd. 2.40 Chambal Fertilisers & Chemicals Ltd. 2.39 Tata Tea Ltd. 2.10 Dr Reddys Laboratories Ltd. 2.10 Federal Bank Ltd. 2.04 Gujarat Alkalies & Chemicals Ltd. 1.94 Madhucon Project Ltd. 1.87 Performance (%) Sundaram BNP Paribas Select Midcap BSE Mid Cap Rel Return 3 Months -14.76-17.42 2.66 6 Months -41.27-43.74 2.47 1 Year -12.17-17.39 5.22 2 Years 8.55 10.87-2.32 3 Years 28.54 17.60 10.94 5 Years 45.87 33.25 12.62 Since Inception 44.17 33.40 10.77 Sundaram BNP Paribas Select Midcap BSE Mid Cap Edelweiss Benchmark (BSE 200) Category Average Sundaram BNP Paribas Select Midcap Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 19 Mutual Funds Advisory

Birla Sun Life Mid Cap Fund MID CAP FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 4.81 0.12 Fund Information NAV Growth Plan Rs. 66.02, Dividend Plan Rs. 18.30 Corpus Inception Date Rs. 487.86 crores 1-Oct-02 52 Week High Growth Rs. 120.00, Dividend Rs. 39.91 52 Week Low Growth Rs. 66.02, Dividend Rs. 18.30 Benchmark Fund Manager CNX Midcap A Balasubramaniam, Sanjay Chawla Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. Exit Load Investment Objecitve If redeemed bet. 0 Year to 1 Year; and Amount Bet. 0 to 49999999 then Exit load is 1%. To achieve long term growth of capital at controlled level of risk by primarily investing in mid-cap stocks. Fund Strategy It seeks to invest in Mid & Small cap stocks by identifying them before the market. It will predominantly focus on stocks between market capitalizations up to 5000 crores. It has an average of 50 stocks in the portfolio. The fund has a higher risk profile than those of most diversified equity funds. Its returns have, however, more than adequately compensated for the risk element. The fund has managed to generate returns for its investors by riding on the several bouts of rerating in mid-cap stocks. Its sector and stock selection have ensured that it has stayed well clear of the BSE 100, its benchmark, as well as most peer funds during the past three years. Risk - Return Attributes 95.07 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 20.89 P/B Ratio 4.19 Div. Yield 0.99 % Market Cap Rs. 7695.36 crores Description Mid Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 69 20 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 20.04% Top 5 Holdings 19.55% Top 10 Holdings 36.11% Market Capitalisation Range Categorisation % of Net Assets Very Large 9.15 Large 41.23 Mid 39.10 Small 4.32 Very Small Debt & Cash 6.19 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 27-Jun-08 20 18.85 28-Dec-07 60 34.50 22-Dec-06 35 22.44 3-Feb-06 20 20.82 28-Jan-05 10 13.95 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% 4.76 5.23 Sectoral Allocation 4.74 7.90 5.31 Housing & Construction Banks 4.08 5.37 Power Generation, Transmission & Equip Consumer Durables Computers - Software & Education 5.52 Chemicals Steel 6.55 5.58 Electricals & Electrical Equipments Textiles Tobacco & Pan Masala Holdings Top Ten Holding % of NAV Solar Explosives Ltd. 4.32 ITC Ltd 4.08 Tata Chemicals Ltd 3.76 Nava Bharat Ventures Ltd 3.73 Monnet Ispat Ltd 3.66 Blue Star Ltd 3.58 Sintex Industries Ltd 3.54 Simplex Infrastructures Ltd. 3.38 IVRCL Infrastructure & Projects Ltd. 3.07 Aditya Birla Nuvo Limited. 2.99 Performance (%) Birla Sun Life Mid Cap Fund CNX Mid Cap Rel Return 3 Months -17.72-17.54-0.18 6 Months -41.36-42.23 0.87 1 Year -11.24-12.27 1.03 2 Years 17.64 15.22 2.42 3 Years 24.98 19.61 5.37 5 Years 38.74 32.35 6.39 Since Inception 38.89 25.33 13.56 Birla Sun Life Mid Cap Fund CNX Mid Cap Edelweiss Benchmark (CNX Midcap) Category Average Birla Sun Life Mid Cap Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 21 Mutual Funds Advisory

ICICI Prudential Emerging STAR Fund MID CAP FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 8.48 0.00 Fund Information NAV Growth Plan Rs. 25.33, Dividend Plan Rs. 15.37 Corpus Rs. 516.53 crores Inception Date 25-Sep-04 52 Week High Growth Rs.47.68, Dividend Rs. 31.21 52 Week Low Growth Rs. 25.33, Dividend Rs. 15.37 Benchmark CNX Nifty Junior Fund Manager Deven Sangoi,Amit Mehta Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25% and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Months to 6 Months; and Amount Bet. 0 to 49999999 then Exit load is 1%. If redeemed bet. 6 Months to 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 0.5%. and Amount greater than 50000000 then Exit load is 0%. Investment To generate capital appreciation by actively investing in Objective diversified mid cap stocks. Fund Strategy The fund identifies and focuses on such stocks, and seeks to bring you the benefit of investing in the leaders of tomorrow, today. It follows a fundamentally driven bottom-up approach to investing, identifying stocks that have the potential to grow many folds. The investment philosophy is growth-oriented, and diversified within the specific theme of mid-cap stocks. The fund also promotes the fund on a high-risk high-return strategy. The fund is ideal for clients willing to take short-term risks for long-term benefits. Risk - Return Attributes 91.52 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 25.22 P/B Ratio 2.89 Div. Yield 0.65% Market Cap Rs. 2104.37 crores Description Mid Cap Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 59 22 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 26.87% Top 5 Holdings 22.33% Top 10 Holdings 37.77% Market Capitalisation Range Categorisation % of Net Assets Very Large -- Large 18.08 Mid 37.88 Small 19.01 Very Small 5.63 Debt & Cash 19.40 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 18-Jan-08 20 25.60 20-Jul-07 25 22.04 12-Jan-07 25 21.73 18-May-06 30 20.08 19-Jul-05 10 14.25 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Jun-06 Mar-07 Mar-08 Dec-05 Mar-06 Sep-06 Dec-06 Jun-07 Sep-07 Dec-07 Jun-08-40% 7.13 4.57 Sectoral Allocation 7.37 4.40 Computers - Software & Education Engineering & Industrial Machinery Printing & Stationary Rubber & Tyres Steel 7.71 3.61 9.30 7.75 Finance Pharmaceuticals Textiles Plastic 9.04 8.53 Housing & Construction Holdings Top Ten Holding % of NAV Deccan Chronicle Holdings Ltd. 5.05 Dishman Pharmaceuticals & Chemicals 4.57 Provogue (India) Limited 4.43 Sintex Industries Ltd. 4.40 AIA Engineering Limited. 3.87 Phillips Carbon Black Ltd. 3.61 Sterlite Optical Technologies 3.51 Patel Engineering Ltd. 3.07 Welspun Gujarat Stahl Rohren Ltd. 2.64 Geodesic Information Systems Ltd. 2.61 ICICI Prudential Emerging STAR Fund Performance (%) CNX Nifty Junior Rel Return 3 Months -19.82-24.87 5.05 6 Months -43.23-49.59 6.36 1 Year -22.15-28.22 6.07 2 Years 10.44 8.80 1.64 3 Years 23.29 12.36 10.93 5 Years -- 28.4 -- Since Inception 28.78 26.99 1.79 ICICI Prudential Emerging STAR Fund CNX Nifty Junior Edelweiss Benchmark (CNX Midcap) Category Average ICICI Prudential Emerging STAR Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 23 Mutual Funds Advisory

Kotak Opportunities Fund OPPORTUNITY FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 5.00 3.75 Fund Information NAV Growth Plan Rs. 32.29, Dividend Plan Rs. 12.50 Corpus Inception Date Rs. 739.53 crores 25-Aug-04 52 Week High Growth Rs. 56.28, Dividend Rs. 31.71 52 Week Low Growth Rs. 30.55, Dividend Rs. 12.50 Benchmark CNX 500 Fund Manager Entry Load Exit Load Investment Objective Anurag Jain, Krishna Sanghvi Amount Bet. 0 to 49999999 then Entry load is 2.25%. and Amount greater than 50000000 then Entry load is 0%. If redeemed within 1 year from investments and is less than Rs 5 Crores - Exit load is 1%. For exit on or after 1 year and less than 5 Crores - Exit Load is Nil To generate capital appreciation from a diversified portfolio of equity and equity related securities. Fund Strategy? Kotak Opportunities is a diversified equity scheme that has a flexibility to invest across market capitalisation and sectors.? The fund has the flexibility to tap opportunities that come up from time to time as the market evolve & grow.? This scheme is suitable for investors who want to capitalize on the momentum of performing sectors and have a long term horizon to ride out cyclical downturns.? Bottom-up stock picking approach using the Business Management & Valuation (BMV) Model is used in the investment strategy.? An aggressive scheme that endeavours to capture market opportunities to create wealth. Risk - Return Attributes 91.25 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 25.66 P/B Ratio 5 Div. Yield 0.63% Market Cap Rs. 41012.06 crores Description Opportunity Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 79 24 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 37.03% Top 5 Holdings 18.78% Top 10 Holdings 32.15% Market Capitalisation Range Categorisation % of Net Assets Very Large 55.70 Large 22.55 Mid 7.45 Small -- Very Small -- Debt & Cash 14.31 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 214-Mar-08 20 14.05 25-Jan-08 60 20.97 28-Sep-07 30 21.72 27-Sep-06 15 16.29 21-Mar-06 45 17.16 50% 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% 5.13 5.53 Banks Steel 5.12 Sectoral Allocation 6.98 4.79 Pharmaceuticals Textiles Oil & Gas, Petroleum & Refinery 4.05 14.17 7.28 9.98 12.88 Housing & Construction Telecom Computers - Software & Education Finance Engineering & Industrial Machinery Holdings Top Ten Holding % of NAV Reliance Industries Ltd. 4.53 Infosys Technologies Ltd. 3.99 Larsen & Toubro Limited 3.84 Bharti Airtel Ltd. 3.41 Glenmark Pharmaceuticals Ltd. 3.00 ITC Ltd. 2.79 Reliance Petroleum Ltd. 2.77 UTI Bank Ltd. 2.66 Aditya Birla Nuvo Limited. 2.62 Tata Chemicals Ltd. 2.52 Performance (%) Kotak Opportunities Fund CNX 500 Rel Return 3 Months -17.32-19.33 2.01 6 Months -39.76-39.38-0.38 1 Year 0.29-11.59 11.88 2 Years 19.47 11.79 7.68 3 Years 30.03 18.87 11.16 5 Years -- 29.03 -- Since Inception 36.05 24.32 11.73 Kotak Opportunities Fund CNX 500 Edelweiss Benchmark (CNX 500) Category Average Kotak Opportunities Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 25 Mutual Funds Advisory

Birla Sunlife Equity Fund OPPORTUNITY FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 20.50 0.00 79.50 Fund Information NAV Growth Plan Rs. 178.57, Dividend Plan Rs. 57.54 Corpus Inception Date Rs. 994.25 crores 27-Aug-98 52 Week High Growth Rs. 315.96, Dividend Rs. 101.83 52 Week Low Growth Rs. 178.57, Dividend Rs. 57.54 Benchmark Fund Manager BSE200 Mahesh Patil Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. Exit Load Investment Objective If redeemed bet. 0 Year to 1 Year; and Amount Bet. 0 to 49999999 then Exit load is 1%. Aims to provide long term capital appreciation through a portfolio with target allocation of 90 percent in equity. Risk - Return Attributes Quartile Analysis Fund Strategy? Birla Sun Life Equity Fund is a diversified equity fund enabling investors to capitalize on the immense growth opportunities provided by the stock market while at the same time minimizing the risk.? The fund focuses on identifying sunrise and high growth sectors like Retail, Telecom, Entertainment, etc.? The fund is an open-ended growth scheme with a Multicap theme. It dynamically shifts weightages between large-cap and mid-cap stocks depending on the market outlook.? The fund is well diversified with more than 50 stocks.? The fund also takes medium-term bets on certain sectoral trends to ride on the growth momentum.? Significant portion of the scheme is invested in sectors with high growth prospects. Additional focus is kept in identifying sunrise industries / concept stocks.? The large in-house research team is especially helpful in identifying such stocks for the fund. Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 27.74 P/B Ratio 4.79 Div. Yield 0.91% Market Cap Rs. 34236.18 crores Description Opportunity Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 71 26 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 26.73% Top 5 Holdings 22.16% Top 10 Holdings 35.63% Market Capitalisation Range Categorisation % of Net Assets Very Large 49.29 Large 16.34 Mid 11.17 Small 1.36 Very Small 0.09 Debt & Cash 21.76 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 31-Aug-07 100 69.98 23-Mar-07 100 64.45 10-Feb-06 50 58.94 20-Oct-04 10 29.00 8-Mar-04 30 27.64 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08-40% 4.07 4.24 3.78 5.19 Sectoral Allocation 3.60 Computers - Software & Education Banks Electricals & Electrical Equipments Finance Housing & Construction 3.506 9.02 8.55 Telecom 8.73 Oil & Gas, Petroleum & Refinery Steel Power Generation, Transmission & Equip Engineering & Industrial Machinery 8.98 Holdings Top Ten Holding % of NAV Reliance Industries Ltd. 6.49 Bharti Airtel Ltd. 6.13 ITC Ltd. 3.44 ICICI Bank Ltd. 3.05 Tata Steel Ltd. 3.05 Housing Dev. Finance Corporation Ltd. 2.86 Reliance Communication Ventures Ltd. 2.84 Satyam Computer Services Ltd. 2.76 Bharat Heavy Electricals Ltd. 2.52 Tata Consultancy Services Ltd. 2.48 Performance (%) Birla Sunlife Equity Fund BSE200 Rel Return 3 Months -18.64-18.31-0.33 6 Months -40.87-37.53-3.34 1 Year -13.93-8.85-5.08 2 Years 16.89 13.72 3.17 3 Years 24.39 21.20 3.19 5 Years 41.64 29.43 12.21 Since Inception 34.00 20.42 13.58 Birla Sunlife Equity Fund BSE 200 Edelweiss Benchmark (CNX 500) Category Average Birla SunLife Equity Fund Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 27 Mutual Funds Advisory

SBI Magnum Multiplier Plus 93 OPPORTUNITY FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 19.73 0.63 79.64 Fund Information NAV Growth Plan Rs. 52.17, Dividend Plan Rs. 42.30 Corpus Rs. 788.22 crores Inception Date 28-Feb-93 52 Week High Growth Rs. 91.62, Dividend Rs. 74.29 52 Week Low Growth Rs. 52.17, Dividend Rs. 42.30 Benchmark BSE100 Fund Manager Jayesh Shroff Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Months to 6 Months; and Amount Bet. 0 to 49999999 then Exit load is 1%. If redeemed bet. 6 Months to 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 0.5%. If redeemed after 12 Months; and Amount Bet. 0 to 49999999 then Exit load is 0%. and Amount greater than 50000000 then Exit load is 0%. Investment Focus is on sound investment opportunities with Objective excellent potential for capital appreciation Risk - Return Attributes Quartile Analysis Fund Strategy? The fund is positioned as an aggressive diversified fund, investing both in large cap and mid cap stocks. Being aggressive and having concentrated portfolio, the fund has potential to give returns in excess of the benchmark. This is also proven by its past track record.? A portfolio of large cap and mid cap assures you of a wide spectrum of growth possibility. It also adopts a blend of both top down as well as bottom up approach? Being quite aggressive and concentrated, we would recommend a 2 year plus minimum horizon to take advantage of the strategy, followed by this fund.? An aggressive strategy with a concentrated portfolio of around 30 stocks : high conviction bets Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 30.01 P/B Ratio 4.8 Div. Yield 0.95% Market Cap Rs. 16385.98 crores Description Opportunity Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 71 28 4th

PORTFOLIO SUMMARY PERFORMANCE TRACK RECORD Portfolio Concentration Top 3 Sectors 41.97% Top 5 Holdings 27.20% Top 10 Holdings 44.39% Market Capitalisation Range Categorisation % of Net Assets Very Large 32.88 Large 26.06 Mid 17.38 Small 0.66 Very Small 0.34 Debt & Cash 22.68 Dividend History (Last 5 dividends) Month Dividend (%) Ex-Dividend NAV 24-Aug-07 60 48.02 31-May-05 21 21.78 19-Jan-04 20 15.85 8-Sep-00 20 23.99 27-Sep-99 15 20.58 40% 30% 20% 10% 0% -10% -20% -30% Sep-05 Qtr on Qtr Performance Jun-06 Mar-07 Mar-08 Dec-05 Mar-06 Sep-06 Dec-06 Jun-07 Sep-07 Dec-07 Jun-08-40% 6.50 Sectoral Allocation 3.34 3.56 6.14 Banks 7.80 3.29 Housing & Construction Engineering & Industrial Machinery Fertilizers, Pesticides & Agrochemicals Finance 2.65 10.67 20.44 Electricals & Electrical Equipments 10.86 Auto & Auto ancilliaries Pharmaceuticals Metals Food & Dairy Products Holdings Top Ten Holding % of NAV Kotak Mahindra Bank Ltd. 6.58 Crompton Greaves Ltd 5.49 Bharat Heavy Electricals Ltd. 5.37 JaiPrakash Associates Ltd. 4.96 Blue Dart Express Ltd. 4.80 Thermax Limited 4.04 United Phosphorus Limited (New) 3.56 Lupin Ltd. 3.41 Sterlite Industries (India) Ltd. 3.34 Nagarjuna Construction Company Ltd. 2.85 Performance (%) SBI Magnum Multiplier Plus 93 BSE100 Rel Return 3 Months -18.01-18.30 0.29 6 Months -41.09-36.49-4.60 1 Year -12.56-7.53-5.03 2 Years 14.58 14.27 0.31 3 Years 29.31 22.73 6.58 5 Years 44.62 31.00 13.62 Since Inception 14.32 -- SBI Magnum Multiplier Plus 93 BSE 100 Relative Performance Comparison Edelweiss Benchmark (CNX 500) Category Average SBI Magnum Multiplier Plus 93 Returns are calculated on compounded annualised basis for a period of more than a year & absolute basis for a period of less than or equal a year. 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 1 Month -60-40 -20 0 20 40 60 Edelweiss Fund Score Book (Jul-Sep 2008) 29 Mutual Funds Advisory

DSP Merrill Lynch Opportunities Fund OPPORTUNITY FUND Market Capitalisation Small Mid Large Investment Style Growth Blend Value Asset Allocation 5.18 0.00 Fund Information NAV Growth Plan Rs. 53.62, Dividend Plan Rs. 20.90 Corpus Rs. 1021.02 crores Inception Date 10-Apr-00 52 Week High Growth Rs. 93.37, Dividend Rs. 42.29 52 Week Low Growth Rs. 53.62, Dividend Rs. 20.90 Benchmark S&P Nifty Fund Manager Anup Maheshwari Entry Load Amount Bet. 0 to 49999999 then Entry load is 2.25%. and Amount greater than 50000000 then Entry load is 0%. Exit Load If redeemed bet. 0 Months to 6 Months; Exit load is 1%. If redeemed bet. 6 Months to 12 Months; Exit load is 0.5%. Investment Objective The Scheme aims to generate long term capital appreciation, and the secondary objective is income generation and distribution of dividend, from a portfolio constituted of equity and equity-related securities, concentrating on the investment focus of the Scheme. Fund Strategy The fund has manages a diversified portfolio of mid cap & large cap stocks presently consisting of more than 80 stocks. The fund adopts an opportunistic investment approach with aggressive sectoral & stock positions aiming to maximize performance, relative to the benchmark and peer group, without affecting the diversified nature of the scheme. The fund has currently higher exposure to large cap stocks. Fund manager has complete flexibility to change the portfolio composition of the scheme to aim to maximize performance from current market trends. Risk - Return Attributes 94.82 Quartile Analysis Equity Debt Cash & Equivalent Fundamental Attributes P/E Ratio 32.15 P/B Ratio 5.31 Div. Yield 1.13% Market Cap Rs. 28647.26 crores Description Opportunity Fund Quartiles 1st 2nd 3rd Beta Std Dev Semi Std Dev R-Squared Treynor Information Sortino Jensen s Alpha Average Returns 1 Year Return 3 Year Returns Edelweiss Fund Score 68 30 4th