Reliance Capital Asset Management Limited A Reliance Capital Company 12th floor, One Indiabulls Centre, Tower 1, Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Abridged Annual Report 2014-2015 An Open-ended Power Sector Scheme Reliance Mutual Fund (A Trust under the Indian Trust Act, 1882) SPONSOR Reliance Capital Limited (Incorporated under the Companies Act, 1956) Regd. Office : H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Navi Mumbai - 400 710. Tel.: +9122 3032 7000, Fax: +9122 3032 7202 TRUSTEE Reliance Capital Trustee Co. Limited [CIN - U65910MH1995PLC220528] (Incorporated under the Companies Act, 1956) Corporate Office : 12th floor, One Indiabulls Centre, Tower 1, Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Tel.: 022-30994600 Fax: 022-30994699 Website : www.reliancemutual.com Regd. Office : H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Navi Mumbai - 400 710. DIRECTORS OF RELIANCE CAPITAL TRUSTEE CO. LIMITED Mr. A. N. Shanbhag Mr. P. P. Vora Mr. S. Santhanakrishnan CA. Uttam Prakash Agarwal INVESTMENT MANAGER Reliance Capital Asset Management Limited [CIN - U65910MH1995PLC220793] (Incorporated under the Companies Act, 1956) Corporate Office : 12th floor, One Indiabulls Centre, Tower 1, Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Tel.: 022-30994600 Fax: 022-30994699 Website : www.reliancemutual.com Regd. Office : H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Navi Mumbai - 400 710. DIRECTORS OF RELIANCE CAPITAL ASSET MANAGEMANT LIMITED Mr. Soumen Ghosh Mr. Kanu Doshi Mr. S. C. Tripathi Mr. Shinichi Okamoto Ms. Ameeta Chatterjee AUDITORS Haribhakti & Co. LLP Chartered Accountants 705, Leela Business Park, Andheri Kurla Road, Andheri (E), Mumbai 400 059, INDIA CUSTODIAN Deutsche Bank A.G. Deutsche Bank House, Hazarimal Somani Marg Fort, Mumbai 400 001, INDIA REGISTRAR Karvy Computershare Private Limited Karvy Selenium Tower B, Plot number 31 & 32, Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad 500032, India. Ph : 040-3321500 Fax : 040-67162220 INTERNAL AUDITORS Price Waterhouse 252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai 400 028 Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Trustee Report 1. Scheme Performance, Future Outlook and Operations of the Scheme Name of the Scheme / Date of Compounded Annualised Returns Benchmarks Inception as on 31.03.2015 (in %) Reliance Diversified Power 1 year 3 years 5 years Since Sector Fund*** Inception Reliance Diversified Power Sector 7-Sep-13 39.98 NA NA 47.04 Fund - Growth S&P BSE Power Index 23.15 NA NA 26.30 Reliance Diversified Power Sector 7-Sep-13 40.78 NA NA 47.89 Fund - Direct - Growth S&P BSE Power Index 23.15 NA NA 26.30 Past performance may or may not be sustained in future. Returns are of Growth Option. Calculation assume that all payouts during the period have been re-invested in the units of the scheme at the then prevailing NAV. Returns less than 1 year are on absolute basis and more than or equal one year is on compounded annualised basis. ***Reliance Infrastructure Fund merged with Reliance Diversified Power Sector Fund (RDPSF), effective post the closure of business hours on 6th September 2013. pursuant to the same fundamental attributes along with Benchmark of RDPSF were changed w.e.f. 7th September 2013. focuses on companies engaged in the power sector. The fund maintains a diversified portfolio across the segment with investments in power generation co s, equipment manufacturers, utilities, power finance etc. The fund has outperformed the benchmark since inception. Future Outlook - The Indian Mutual Fund industry is one of the fastest growing industries in the financial services sector with 44 AMCs currently operating in the country. The industry AAUM has changed with an absolute growth rate of 32% over last year with Rs. 10,88,908 crore of average assets as on March 31, 2015. Your Company intends to aggressively pursue growth opportunities in the mutual fund industry both domestic and international and therefore be the most preferred investment choice for investors. Your Company expects that an emerging market like India would experience a sustained higher growth rate. Given the country s high household savings rate along with the current low levels of investments by retail investors where only less than 3% of the household savings is channeled into capital markets, your Company believes that the Mutual Fund Industry is still in a nascent stage and has a huge opportunity for growth and expansion. Being one of the large players in the Industry, your Company will continue investing in growing the market size, achieving product innovation, educating the investors, increasing the distribution reach, enhancing customer service infrastructure with aggressive expansion strategies. 2. Brief background of Sponsors, Trust, Trustee Co. and AMC. a. Reliance Capital Limited [Sponsor] Reliance Mutual Fund has been sponsored by Reliance Capital Limited (RCL), which also happens to be the Settler of this Trust i.e. Reliance Mutual Fund. RCL is a RBI registered Non-Banking Finance Company (NBFC) and has its business interests in Asset Management, Life Insurance, General Insurance, Private Equity, Proprietary Investments, Stock Broking, & other activities in the Financial Services Sector. b. Reliance Mutual Fund [Trust] Reliance Mutual Fund (RMF) has been set up as a Trust in accordance with the provisions of the Indian Trust Act, 1882 by RCL acting as its Settlor / Sponsor. The Trust came into being vide Trust Deed dated April 25, 1995 (the Original Trust Deed ), which was duly registered under the Indian Registration Act, 1908. The Original Trust Deed has also been subsequently amended from time to time. In order to consolidate all amendments to the Original Trust Deed, an Amended and Restated Trust Deed was executed on March 15, 2011 (the Amended and Restated Trust Deed ), which was then duly registered under the Indian Registration Act, 1908 and also submitted with the Securities & Exchange Board of India (SEBI). c. Reliance Capital Trustee Co Limited [Trustee] Reliance Capital Trustee Co. Limited (RCTC) is an unlisted Public Limited Company incorporated under the Companies Act, 1956 on February 24, 1995, having its registered office at H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Navi Mumbai 400710 and its Corporate Office at One Indiabulls Centre Tower One, 12th floor, Jupiter Mills Compound, Elphinstone Road, Mumbai 400 013. RCTC is a subsidiary of RCL. RCTC has been appointed as the Trustee of RMF vide Trust Deed dated April 25, 1995 and which Trust Deed has been amended from time to time. As Trustee to RMF, RCTC is discharging its duties and carrying out its responsibilities in terms of the applicable SEBI Regulations and as more particularly provided in the Trust Deed. d. Reliance Capital Asset Management Limited [Asset Manager] Reliance Capital Asset Management Limited (RCAM) is an unlisted Public Limited Company incorporated under the Companies Act, 1956 on February 24, 1995, having its registered office at H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Navi Mumbai 400710 and its Corporate Office at One Indiabulls Centre Tower One, 12th floor, Jupiter Mills Compound, Elphinstone Road, Mumbai 400 013. RCAM is a subsidiary of RCL. RCAM has been appointed as an Asset Manager of Reliance Mutual Fund by the Trustee i.e. RCTC, vide Investment Management Agreement (IMA) dated May 12, 1995. The IMA has been executed between RCTC and RCAM and has since been amended on August 12, 1997, on January 20, 2004 and then on February 17, 2011. 3. Investment Objective of the Scheme The primary investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies in the power sector 4. Significant Accounting Policies: Accounting policies followed by Reliance Mutual Fund are in accordance with Securities Exchange Board of India (Mutual Funds) Regulations, 1996. 5. Unclaimed Dividend & Redemptions: Unclaimed Dividend Unclaimed Redemptions No. of investors Amount (Rs) No. of investors Amount (Rs.) 6296 131,48,571.48 2142 319,80,672.61 6. Details of Investor Complaints: The Statement on Status of Redressal of Complaints received against Reliance Mutual Fund during the financial year 2014-15 is annexed as Annexure A and forms part of the Trustee Report. 7. Role of Mutual Funds In Corporate Governance Of Public Listed Companies: In terms of the circular no. SEBI/ IMD/ CIR No. 18/198647/ 2010 dated March 15, 2010 & circular no. CIR/IMD/DF/05/2014 dated March 24, 2014 issued by SEBI,, Reliance Capital Asset Management Company Limited ( RCAM ) has framed a Voting Policy and relevant procedures ( Voting Policy ) for the purposes of exercising the voting rights in respect of shares held by the Schemes of Reliance Mutual Fund. This Voting Policy has also been adopted & approved by the Board of Directors of Reliance Capital Trustee Co. Limited. As required in terms of the regulatory requirements, RCAM has voted on all material resolutions, keeping in view the interests of the investors. For the financial year 2014-15, the Voting Policy along with the details of proxy votes exercised at the meetings of the investee companies and the required certificate from the Auditor have been appropriately disclosed on RCAM s website i.e. www.reliancemutual.com. In case any investor desires to have a physical copy of the Voting Policy and other relevant details, then the same will be available at request at the corporate office of the Company at 12th floor, One Indiabulls Centre, Tower 1, Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Phone Number- 022-30994600 8. Statutory Information: a. The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes of the Fund beyond their initial contribution (to the extent contributed) of Rs. 1 Lakh for setting up the Fund, and such other accretions / additions to the same. b. The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market value of its underlying investments. c. Full Annual Report shall be disclosed on the website (www.reliancemutual. com) and shall be available for inspection at the Head Office of the mutual fund. Present and prospective unit holder can obtain copy of the trust deed, the full Annual Report of the Fund / AMC at a price. For and on behalf of Reliance Capital Trustee Co. Limited Place: Mumbai A.N. Shanbhag P.P. Vora Date: June 29, 2015 Director Director Abridged Annual Report 2014-2015 2 Name of the Scheme / Date of Compounded Annualised Returns Benchmarks Inception (till 06.09.2013) (in %) Reliance Diversified Power 1 year 3 years 5 years Since Sector Fund (till 06 Sep 2013)*** Inception Reliance Diversified Power Sector 10-May- Fund - Growth 04-19.19-19.37 3.09-1.34 India Power Index -18.65-20.06 0.26 4.65 Reliance Diversified Power Sector Fund - Direct - Growth 1-Jan-13 N.A N.A N.A -31.51 India Power Index N.A N.A N.A -28.77
Annexure to Trustee Report Redressal of Complaints received during 2014-2015 Name of the Mutual Fund : Reliance Mutual Fund Total Number of Folios : 5560420 (as on 31 st March, 2015) Annexure - A Complaint code Type of complaint# (a) No. of complaints pending at the beginning of the year (b) No of complaints received during the year Within 30 days 30-60 days Resolved 60-180 days Action on (a) and (b) Beyond 180 days Non Actionable* I A Non receipt of Dividend on Units 0 10 10 0 0 0 0 0 0 0 0 I B Interest on delayed payment of Dividend 0 0 0 0 0 0 0 0 0 0 0 I C Non receipt of Redemption 0 168 165 2 0 0 0 1 0 0 0 Proceeds I D Interest on delayed payment of 0 23 23 0 0 0 0 0 0 0 0 Redemption II A Non receipt of Statement of Account/Unit Certificate 0 1 1 0 0 0 0 0 0 0 0 II B Discrepancy in Statement of 0 1318 1316 0 0 0 0 2 0 0 0 Account II C Data corrections in Investor 0 0 0 0 0 0 0 0 0 0 0 details II D Non receipt of Annual Report/ 0 0 0 0 0 0 0 0 0 0 0 Abridged Summary III A Wrong switch between Schemes 0 57 57 0 0 0 0 0 0 0 0 III B Unauthorized switch between 0 0 0 0 0 0 0 0 0 0 0 Schemes III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0 III D Wrong or excess charges/load 0 0 0 0 0 0 0 0 0 0 0 III E Non updation of changes viz. 0 78 77 0 0 0 0 1 0 0 0 address, PAN, bank details, nomination, etc IV Others ** 3 644 630 4 1 0 0 12 0 0 0 Total 3 2299 2279 6 1 0 0 16 0 0 0 Particulars Count Total Complaints Received During 2014-2015 2299 Total Number of Folios 5560420 Percentage Complaints Against Folios 0.04 ** If others include a type of complaint which is more than 10% of overall complaint, provide that reason separately. # including against its authorized persons/ distributors/ employees. etc. *Non actionable means the complaint that are incomplete / outside the scope of the mutual fund. Classification of complaints Type of Complaint TYPE I Delay/Non-receipt of money TYPE III Service related I A Dividend on Units III A Wrong switch between Schemes I B Interest on delayed payment of Dividend III B Unauthorized switch between Schemes I C Redemption Proceeds III C Deviation from Scheme attributes I D Interest on delayed payment of Redemption III D Wrong or excess charges/load TYPE II Statement of Account/Unit Certificate/Annual Report III E Non updation of changes viz. address, PAN, bank details, nomination, etc II A Non receipt of Statement of Account/Unit Certificate TYPE IV Others II B Discrepancy in Statement of Account II C Non receipt of Annual Report/Abridged Summary 0-3 months 3-6 months Pending 6-9 months 9-12 months Abridged Annual Report 2014-2015 3
INDEPENDENT AUDITORS REPORT To The Trustees of Reliance Mutual Fund Report on the Financial Statements We have audited the accompanying financial statements of the Reliance Diversified Power Sector Fund ( the Scheme ), which comprise the Balance Sheet as at March 31, 2015, the Revenue Account, the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information. Management s Responsibility for the Financial Statements The Trustee of Reliance Mutual Fund and Reliance Capital Asset Management Limited, the Scheme Investment Manager are responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flow of the Scheme in accordance with the accounting principles generally accepted in India, including the accounting policies as specified in the Ninth Schedule of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and amendments thereto ( the Regulations ). This responsibility also includes the design, implementation and maintenance of adequate internal financial controls and ensuring their operating effectiveness and the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements of the Scheme that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Reliance Mutual Fund has in place an adequate internal financial controls system over financial reporting and operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Regulations as applicable in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Scheme as at 31st March, 2015, its Surplus, and its cash flow of the Scheme for the year ended on that date. Report on Other Legal and Regulatory Requirements As required under the Regulations, we report that: 1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; 2. The Balance Sheet, Revenue Account and Cash Flow Statement dealt with by this Report are in agreement with the books of account of the Scheme; 3. In our opinion, the Balance Sheet, Revenue Account and Cash Flow Statement dealt with by this report have been prepared in accordance with the accounting policies and standards as specified in Ninth Schedule of the Regulations. 4. The methods used to value non traded securities, as determined by Reliance Capital Asset Management Limited and as approved by the Trustee of Reliance Mutual Fund are in good faith and in accordance with the guidelines for valuation of securities for mutual funds as mentioned in the Eighth Schedule of the Regulations issued by the Securities and Exchange Board of India, and are fair and reasonable. For HARIBHAKTI & CO. LLP Chartered Accountants ICAI Firm Membership No.103523W CHETAN DESAI (Partner) Membership No. 017000 Place: Mumbai Date: 29 th June, 2015 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements. Abridged Annual Report 2014-2015 4
Abridged Balance Sheet as at March 31, 2015 Rupees in Lakhs Reliance Diversified Power Sector Fund As at 31.03.2015 As at 31.03.2014 LIABILITIES 1 Unit Capital 37,236.71 42,991.01 2 Reserves & Surplus 164,788.16 130,878.53 2.1 Unit Premium Reserves 22,451.50 32,979.42 2.2 Unrealised Appreciation Reserve 47,527.33-2.3 Other Reserves 94,809.33 97,899.11 3 Loans & Borrowings - - 4 Current Liabilities & Provisions 1,601.12 3,450.92 4.1 Provision for doubtful Income/Deposits - - 4.2 Other Current Liabilities & Provisions 1,601.12 3,450.92 TOTAL 203,625.99 177,320.46 ASSETS 1 Investments 1.1 Listed Securities: 197,814.57 171,170.18 1.1.2 Equity Shares 197,814.57 171,170.18 1.1.3 Preference Shares - - 1.1.4 Equity Linked Debentures - - 1.1.5 Other Debentures & Bonds - - 1.1.6 Securitised Debt securities - - 1.1.7 Derivatives - - 1.1.8 Others - - 1.2 Securities Awaited Listing: - 176.96 1.2.1 Equity Shares - 176.96 1.2.2 Preference Shares - - 1.2.3 Equity Linked Debentures - - 1.2.4 Other Debentures & Bonds - - 1.2.5 Securitised Debt securities - - 1.3 Unlisted Securities - - 1.3.1 Equity Shares - - 1.3.2 Preference Shares - - 1.3.3 Equity Linked Debentures - - 1.3.4 Other Debentures & Bonds - - 1.3.5 Securitised Debt securities - - 1.4 Government Securities - - 1.5 Treasury Bills - - 1.6 Commercial Paper - - 1.7 Certificate of Deposits 1,994.36 1,998.03 1.8 Bill Rediscounting - - 1.9 Units of Domestic Mutual Fund - - 1.10 Foreign Securities - - Total Investments 199,808.93 173,345.17 2 Deposits 5.58-3 Other Current Assets 3,811.48 3,975.29 3.1 Cash & Bank Balance 691.32 480.83 3.2 CBLO/ Reverse Repo Lending 1,420.28 309.19 3.3 Others 1,699.88 3,185.27 4 Deferred Revenue Expenditure - - (to the extent not written off) TOTAL 203,625.99 177,320.46 Notes to Accounts - Annexure I Abridged Revenue Account For The Year Ended March 31, 2015 Rupees in Lakhs Reliance Diversified Power Sector Fund Year Ended 31.03.2015 Year Ended 31.03.2014 1 INCOME 1.1 Dividend 2,413.45 2,794.50 1.2 Interest 786.31 654.03 1.3 Realised Gain / (Loss) on Foreign - - Exchange Transactions 1.4 Realised Gains / (Losses) on Interscheme - - sale of investments 1.5 Realised Gains / (Losses) on External 1,830.87 (17,228.92) sale / redemption of investments 1.6 Realised Gains / (Losses) on Derivative (119.97) 9.53 Transactions 1.7 Other Income 160.53 35.17 ( A ) 5,071.19 (13,735.69) 2 EXPENSES 2.1 Management fees 3,169.34 2,298.47 2.2 Service tax on Management fees 391.73 284.09 2.3 Transfer agents fees and expenses - - 2.4 Custodian fees - - 2.5 Trusteeship fees 1.01 0.51 2.6 Commission to Agents 1,398.42 940.17 2.7 Marketing & Distribution expenses 4.66 46.00 2.8 Audit fees 1.22 1.02 2.9 Investor education expense 43.40 30.71 2.10 Other operating expenses 1.00 0.96 2.11 Deferred Revenue Expenses written off - - ( B ) 5,010.78 3,601.93 3 NET REALISED GAINS / (LOSSES) FOR THE 60.41 (17,337.62) YEAR / PERIOD (A - B = C) 4 Change in Unrealised Depreciation in value of 20,009.42 41,233.00 investments (D) 5 NET GAINS / (LOSSES) FOR THE YEAR / 20,069.83 23,895.38 PERIOD (E = C+D) 6 Change in unrealised appreciation in the value 47,527.33 - of investments (F) 7 NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIOD ( E + F = G ) 67,597.16 23,895.38 7.1 Add: Balance transfer from Unrealised - - Appreciation Reserve 7.2 Less: Balance transfer to Unrealised 47,527.33 - Appreciation Reserve 7.3 Add / (Less): Equalisation (17,262.14) (3,162.22) 7.4 Net Gain/(Loss) Brought Forward From Previous Year 97,899.11 81,128.53 8 Total 100,706.80 101,861.69 9 Dividend appropriation 5,897.47 3,962.58 9.1 Income Distributed during the year / 5,897.47 3,962.58 period 9.2 Tax on income distributed during the year / period - - 10 Retained Surplus / (Deficit) carried forward 94,809.33 97,899.11 to Balance sheet Notes to Accounts - Annexure I Abridged Annual Report 2014-2015 5
Notes to Accounts - Annexure I to the Abridged Balance Sheet and Revenue Account for the Year Ended March 31, 2015 1. Investments:- 1.1. All the investments are held in the name of the Scheme, (except for Government Securities and Treasury Bills which are held in the name of the fund) as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996. 1.2. Open Position of derivatives :- NIL. For details on derivative positions please refer to Annexure III. 1.3. Investments in Associates and Group Companies. Scheme Name Issuer Instrument 2014-2015 2013-2014 Reliance Diversified Power Sector Fund Amount (Rs. In lakhs) Aggregate Investments (Rs. In lakhs) Amount (Rs. In lakhs) Aggregate Investments (Rs. In lakhs) Reliance Infrastructure Ltd Equity - - 6,617.98 9,653.53 Reliance Power Ltd Equity 4,421.16 9,212.35 6,588.15 7,906.90 1.4. There are NIL Open position of Securities Borrowed and / or Lent by the scheme. 1.5. There are no NPA s as on March 31, 2015. 1.6. Aggregate Unrealised Gain / Loss as at the end of the Financial Year and percentage to net assets. Scheme Name 2014-2015 2013-2014 Aggregate Unrealised Gain / (Loss) (Rs. In lakhs) % of Net Assets Aggregate Unrealised Gain / (Loss) (Rs. In lakhs) % of Net Assets 47,527.33 23.53% (20,009.42) -11.51% 1.7. Aggregate Value of Purchase and Sale with Percentage to average assets. Amount (Rs. in lakhs) 2014-2015 2013-2014 Purchases Sales Purchases Sales % to average Net Assets Amount (Rs. in lakhs) % to average Net Assets Amount (Rs. in lakhs) % to average Net Assets Amount (Rs. in lakhs) % to average Net Assets Reliance Diversified Power Sector Fund 103687.24 47.79% 146655.60 67.59% 39865.76 25.97% 68807.61 44.82% 1.8. Non-Traded securities in the portfolio. Scheme Name 2014-2015 2013-2014 Amount (Rs. In lakhs) % to Net Assets Amount (Rs. In lakhs) % to Net Assets Equity - - 176.96 0.10% Debt - - - - Money market 1,994.36 0.99% 1,998.03 1.15% 2 Details of Transaction with Associates under regulation 25(8). Brokerage paid to associates/related parties/group companies of Sponsor/AMC Name of associate/related parties/ group companies of Sponsor/ AMC Nature of Association/ Nature of relation Period covered Value of transaction ( in Rs. Cr. & % of total value of transaction of the fund ) Brokerage( Rs Cr & % of total brokerage paid by the fund) Reliance Securities Limited Associate 2014-2015 - - - - 2013-2014 3.25 0.37% 0.00 0.34% Commission Paid to associates/related parties/group companies of Sponsor/AMC Name of associate/related parties/group companies of sponsor/amc Nature of Association/ Nature of relation Period covered Business given (Rs. Cr. & % of total business received by the fund) Commission paid (Rs Cr& % of total commission paid by the fund) Indusind Bank Limited ** Associate 2014-2015 3.50 0.99% 0.05 0.37% 2013-2014 0.07 0.06% 0.01 0.09% Quant Capital Advisors Private 2014-2015 0.10 0.00% 0.00 0.00% Associate Limited 2013-2014 - - - - Reliance Securities Limited Associate 2014-2015 0.45 0.11% 0.09 0.55% 2013-2014 0.48 0.43% 0.07 0.69% ** - Commission paid to Indusind Bank Ltd. is considered only till 13 February 2015, since w.e.f. 14 February 2015, Indusind Bank Ltd. ceases to be a group/associate company Abridged Annual Report 2014-2015 6
3 Large Holdings in the Scheme (i.e. in excess of 25% of the net assets) as on March 31, 2015 is NIL. 4 Unit Capital movement during the year ended :Refer ANNEXURE II. 5 Prior Year Comparatives: The figures of the previous Year have been regrouped / rearranged, wherever applicable, to conform to current year s presentation. 6 Contingent Liability - NIL. 7 Expenses other than management fee is inclusive of service tax where applicable. 8 Other Income : Other Income includes exit load income (net of Service Tax) and miscellaneous income (if any). 9 Details of Credit Default Swap as follows- 1. No. of transactions during the year - NIL (Previous Year- NIL) 2. Amount of protection bought during the year - NIL (Previous Year- NIL) 3. No. of transactions where credit event payment was received during the year: a. Pertaining to current years transactions. - NIL (Previous Year- NIL) b. Pertaining to previous year (s) transactions- NIL (Previous Year- NIL) 4. Outstanding transactions as on year end: a. No. of transactions - NIL (Previous Year- NIL) b. Amount of protection - NIL (Previous Year- NIL) 5. Net income/ expense in respect of CDS transactions during year-to-date: a. Premium Paid - NIL (Previous Year- NIL) b. Credit event payments received (net of value of derivable obligations)- NIL (Previous Year- NIL) Abridged Annual Report 2014-2015 7
Key Statistics for the year ended March 31, 2015 Year Ended March 31, 2015 Year Ended March 31, 2014 1. NAV per unit (Rs.): Growth Plan Open 53.9904 48.2050 High 79.3994 53.9904 Low 54.1042 38.5972 End 75.6673 53.9904 Bonus Plan Open 53.9904 48.2051 High 79.3994 53.9904 Low 54.1042 38.5972 End 75.6673 53.9904 Dividend Plan Open 25.1590 24.3410 High 36.9982 26.2328 Low 25.2120 19.4899 End 32.0751 25.1590 Direct Plan-Growth Plan Open 54.3248 48.2294 High 80.2586 54.3248 Low 54.4408 38.6914 End 76.5676 54.3248 Direct Plan-Bonus Plan Open 54.3248 48.2301 High 80.2586 54.3248 Low 54.4408 38.6913 End 76.5676 54.3248 Direct Plan-Dividend Plan Open 25.3759 24.3728 High 37.5295 26.2905 Low 25.4298 19.5631 End 32.6216 25.3759 2. Closing Assets Under Management (Rs. in Lakhs) End 202,024.88 173,869.54 Average (AAuM) 216,985.34 153,528.21 3. Gross income as % of AAuM 1 2.34% -8.95% 4. Expense Ratio: a. Total Expense as % of AAuM (plan wise) Other than Direct Plan 2.32% 2.35% Direct Plan 1.67% 1.72% b. Management Fee as % of AAuM (plan wise) Other than Direct Plan 1.46% 1.50% Direct Plan 1.46% 1.50% Year Ended March 31, 2015 Year Ended March 31, 2014 5. Net Income as a percentage of AAuM 2 0.03% -11.29% 6. Portfolio turnover ratio 3 0.53 0.26 7. Total Dividend per unit distributed during the year (plan wise) Dividend Plan 3.25 2.00 Direct Plan-Dividend Plan 3.25 2.00 8. Returns: a. Last One Year Growth Plan/Option Growth Plan 39.98% NA Direct Plan-Growth Plan 40.78% NA Benchmark (S&P BSE Power Index) 23.15% NA b. Since Inception Growth Plan/Option Growth Plan 47.04% 29.86% Direct Plan-Growth Plan 47.89% 30.30% Benchmark (S&P BSE Power Index) Growth Plan 26.30% 16.50% Direct Plan-Growth Plan 26.30% 16.50% 1. Gross income = amount against (A) in the Revenue account i.e. Income. 2. Net income = amount against (C) in the Revenue account i.e. NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD 3. Portfolio Turnover = Lower of sales or purchase divided by the Average AuM for the year/period. 4. AAuM=Average daily net assets For and on behalf of Reliance Capital Asset Management Limited Soumen Ghosh Director Kanu Doshi Director Sundeep Sikka CEO Sunil Singhania Fund Manager/ CIO-Equity Investments Place : Mumbai Date : June 29, 2015 For and on behalf of Reliance Capital Trustee Co. Limited A.N. Shanbhag Director P.P. Vora Director Abridged Annual Report 2014-2015 8
ANNEXURE II Unit Capital movement during the year ended 31st March 2015 Scheme/Plan Name Unit Capital (Opening Balance) Add : Subscription during Initial Offer period Add: Allotted on Merger during the year Add : Subscription during the year / period Less : Redemption during the year / period Unit Capital (Closing Balance) Units Amount (Rs.) Units Amount (Rs.) Units Amount (Rs.) Units Amount (Rs.) Units Amount (Rs.) Units Amount (Rs.) RELIANCE DIVERSIFIED POWER SECTOR FUND (Face Value of Rs. 10 Each) 2014-2015 Growth Plan 224,556,093 2,245,560,925 - - 36,309,312 363,093,125 75,698,891 756,988,909 185,166,514 1,851,665,141 Bonus Plan 1,639,530 16,395,302 - - 32,477 324,767 356,867 3,568,670 1,315,140 13,151,399 Dividend Plan 201,398,753 2,013,987,528 - - 31,188,800 311,887,998 50,981,352 509,813,515 181,606,201 1,816,062,011 Direct Plan-Growth Plan 1,671,976 16,719,762 - - 3,790,359 37,903,591 2,611,544 26,115,438 2,850,792 28,507,915 Direct Plan-Bonus Plan 12,372 123,720 - - 76,191 761,906 44,694 446,942 43,868 438,684 Direct Plan-Dividend Plan 631,412 6,314,117 - - 1,702,089 17,020,885 948,866 9,488,663 1,384,634 13,846,339 Total 429,910,135 4,299,101,354 - - 73,099,227 730,992,273 130,642,214 1,306,422,137 372,367,149 3,723,671,489 2013-2014 Growth Plan 219,866,813 2,198,668,133 - - 54,820,389 548,203,895 16,504,952 165,049,516 66,636,062 666,360,618 224,556,093 2,245,560,925 Bonus Plan 1,635,045 16,350,451 - - 296,353 2,963,534 23,030 230,298 314,898 3,148,981 1,639,530 16,395,302 Dividend Plan 199,988,888 1,999,888,875 - - 45,339,954 453,399,536 11,931,470 119,314,696 55,861,558 558,615,580 201,398,753 2,013,987,528 Direct Plan-Growth Plan 366,735 3,667,347 - - 1,082,081 10,820,809 1,466,106 14,661,064 1,242,946 12,429,459 1,671,976 16,719,762 Direct Plan-Bonus Plan 3,632 36,322 - - 1,493 14,933 14,599 145,992 7,353 73,527 12,372 123,720 Direct Plan-Dividend Plan 156,425 1,564,254 - - 102,729 1,027,286 547,355 5,473,547 175,097 1,750,971 631,412 6,314,117 Total 422,017,538 4,220,175,382 - - 101,642,999 1,016,429,993 30,487,511 304,875,114 124,237,913 1,242,379,135 429,910,135 4,299,101,354 Abridged Annual Report 2014-2015 9
Annexure III Derivatives Disclosure A. Hedging Positions through Futures as on March 31, 2015: NIL. Total %age of existing assets hedged through futures NIL. For the Year ended March 31, 2015 following details specified for hedging transactions through futures which have been squared off/expired: Scheme Name RELIANCE DIVERSIFIED POWER SECTOR FUND Total Number of contract where future were bought Total Number of contract where future were sold Gross Notional Value of contracts where futures were bought ( In Rs.) Gross Notional Value of contracts where futures were sold ( In Rs.) Net Profit/Loss value on all contracts combined (In Rs.) 200 200 104,450,000 92,492,000 (11,958,000) B. Other than Hedging Position through Futures as on March 31, 2015: NIL. Total exposure due to futures (non hedging positions) as a %age of net assets : NIL. For the Year ended March 31, 2015 following details specified for non-hedging transactions through futures which have been squared off/expired: NIL C. Hedging Position through Put Options as on March 31, 2015 : NIL Total % age of existing assets hedged through Put Options : NIL For the Year ended March 31, 2015 following details specified for hedging transactions through options which have already been exercised/expired : NIL. D. Other than Hedging Position through Options as on March 31, 2015; NIL. Total Exposure through options as a %age of net assets NIL. For the Year ended March 31, 2015 following details specified with regard to non-hedging transactions through options which have already been exercised/expired: NIL. E. Hedging Positions through swaps as on March 31, 2015 : NIL Note on derivatives: The disclosure with respect to Investments in derivatives have been made on the basis of SEBI Circular on Abridged Scheme-wise Annual Report Format and periodic disclosures to the unitholders vide reference IMD/CIR No.8/132968/2008 dated July 24, 2008 and Review of norms for investment and disclosure by Mutual Funds in derivatives vide reference Cir/ IMD/ DF/ 11/ 2010 dated August 18, 2010. Abridged Annual Report 2014-2015 10
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