AUDITORS REPORT To the Board of Directors of Trustees of FRANKLIN TEMPLETON MUTUAL FUND TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT 1. We have audited the attached balance sheet of FRANKLIN TEMPLETON MUTUAL FUND TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT (the Scheme ) as at March 31, 2011 and also the revenue account and cash flow statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the management of Franklin Templeton Asset Management (India) Private Limited, the Scheme s asset managers. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. We report that: i. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; ii. The balance sheet, revenue account and cash flow statement dealt with by this report are in agreement with the books of account; iii. In our opinion, the balance sheet, revenue account and cash flow statement dealt with by this report have been prepared in conformity with the accounting policies and standards specified in the Ninth Schedule to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (the SEBI Regulations ); iv. In our opinion, and on the basis of information and explanations given to us, the methods used to value non traded securities as at March 31, 2011 are in accordance with the SEBI Regulations and other guidelines issued by the Securities and Exchange Board of India as applicable and approved by the Board of Directors of Franklin Templeton Trustee Services Private Limited, and are fair and reasonable;
v. In our opinion, and to the best of our information and according to the explanations given to us, the said financial statements give the information required by the SEBI Regulations as applicable and give a true and fair view in conformity with the accounting principles generally accepted in India: a) in the case of the balance sheet, of the state of affairs of the Scheme as at March 31, 2011; b) in the case of the revenue account, of the surplus for the year ended on that date; and c) in the case of cash flow statement, of the cash flows for the year ended on that date. For S.R. Batliboi & Co. Firm Registration Number - 301003E Chartered Accountants Sd/- per Shrawan Jalan Partner Membership No.: 102102 Mumbai, July 8, 2011
FRANKLIN TEMPLETON MUTUAL FUND BALANCE SHEET AS AT MARCH 31, 2011 (All amounts in thousands of Rupees) SOURCES OF FUNDS Schedules TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT As at As at March 31, 2011 March 31, 2010 1 Unit Capital 2(b) & 3 11,742,529 10,193,150 2 Reserves and Surplus 4 2.1 Retained Surplus 4,706,387 4,289,468 3 Current Liabilities and Provisions 5 3.1 Current Liabilities 5,806,010 642,620 TOTAL 22,254,926 15,125,238 APPLICATION OF FUNDS 1 Investments 2(c), 6 & 18 1.1 Unlisted Securities 1.1.1 Privately Placed Debentures and Bonds - 750,000 1.1.2 Securitised Debt Securities 863,641-1.2 Commercial Papers 1,371,245 1,997,574 1.3 Certificate of Deposits 13,128,250 7,732,825 2 Deposits 7 4,800,000 2,637,000 3 Other Current Assets 8 3.1 Cash and Bank Balances 80,558 509 3.2 CBLO/ Reverse Repo Lending 33,681 49,922 3.3 Others 133,172 175,196 4 Accumulated Unit Discount, Net 9 1,844,379 1,782,212 TOTAL 22,254,926 15,125,238 Notes to Accounts 1 to 18 The accompanying schedules are an integral part of this Balance Sheet. As per our attached report of even date For Franklin Templeton Asset Management (India) Private Limited For S.R. Batliboi and Co. For Franklin Templeton Trustee Sd/- Sd/- Firm Registration no. 301003E Services Private Limited Harshendu Bindal Navroz Seervai Chartered Accountants President Director Sd/- Sd/- Sd/- Anand J. Vashi Vivek Kudva Sachin Padwal - Desai Director Director Vice President & Portfolio Manager Sd/- per Shrawan Jalan Sd/- Sd/- Sd/- Partner Indu Shahani Pallab Roy Vivek Pai Membership No. 102102 Director Senior Manager & Portfolio Vice President Manager July 8, 2011 Mumbai
FRANKLIN TEMPLETON MUTUAL FUND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011 (All amounts in thousands of Rupees) Schedules TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT Year ended Year ended March 31, 2011 March 31, 2010 1 INCOME 1.1 Interest 2(d),10 & 15 2,699,945 1,040,073 1.2 Realised Gain on Interscheme Sale of Investments, ne 2(d) 261 697 1.3 Realised Gain on External Sale / Redemption of Investments, net 2(d) - 39,731 1.4 Other Income - - 2,700,206 1,080,501 2 EXPENSES 2.1 Realised Loss on External Sale / Redemption of Investments, net 2(d) 109,360-2.2 Management Fees 11 79,470 71,600 2.3 Service Tax on Management Fees 11 8,185 7,375 2.4 Transfer Agents Fees and Expenses 7,288 4,763 2.5 Custodian Fees 990 651 2.6 Trusteeship Fees 11 1,072 694 2.7 Commission to Agents 18,883 14,461 2.8 Marketing and Distribution Expenses 653 1,183 2.9 Audit Fees 511 453 2.10 Other Operating Expenses 7,573 6,428 233,985 107,608 2.11 Expenses Written Back pertaining to previous year (132) - 233,853 107,608 3 NET REALISED GAINS / (LOSSES) FOR THE YEAR 2,466,353 972,893 4 Change in Unrealised Depreciation in value of Investments 2(c) & 6(ii) 7,255 (57,525) 5 NET GAINS / (LOSSES) FOR THE YEAR (3-4) 2,459,098 1,030,418 6 Change in Unrealised Appreciation in the value of Investments - - 7 NET GAINS / (LOSSES) FOR THE YEARAFTER CHANGE IN (5+6) UNREALISED APPRECIATION 2,459,098 1,030,418 7.1 Add / (Less): Equalisation Credit/(Debit) 2(e) (1,202,695) (1,134,254) 8 Total 1,256,403 (103,836) 9 Dividend Appropriation 9.1 Income Distributed during the Year 16 (650,252) (302,380) 9.2 Tax on Income Distributed during the Year 16 (189,232) (85,649) 10 NET SURPLUS / (DEFICIT) FOR THE YEARTRANSFERRED TO BALANCE SHEET (8+9) 4 416,919 (491,865) *- Amount is less than rupees one thousand. Notes to Accounts 1 to 18 The accompanying schedules are an integral part of this Revenue Account. As per our attached report of even date For Franklin Templeton Asset Management (India) Private Limited For S.R. Batliboi and Co. For Franklin Templeton Trustee Sd/- Sd/- Firm Registration no. 301003E Services Private Limited Harshendu Bindal Navroz Seervai Chartered Accountants President Director Sd/- Sd/- Sd/- Anand J. Vashi Vivek Kudva Sachin Padwal - Desai Director Director Vice President & Portfolio Manager Sd/- per Shrawan Jalan Sd/- Sd/- Sd/- Partner Indu Shahani Pallab Roy Vivek Pai Membership No. 102102 Director Senior Manager & Portfolio Vice President Manager July 8, 2011 Mumbai
FRANKLIN TEMPLETON MUTUAL FUND CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2011 (All amounts in thousands of Rupees) TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT March 31, 2011 March 31, 2010 A. Cashflow from Operating Activities Net Gains / (Losses) for the Year 2,459,098 1,030,418 Add / (Less) : Change in Unrealised Appreciation in the value of Investments 7,255 (57,525) Adjustments for:- (Increase)/Decrease in Investments at Cost (4,739,991) (3,246,003) (Increase)/Decrease in Other Current Assets (92,517) 4,895,956 Increase/(Decrease) in Current Liabilities 5,787,545 (11,753) Initial Issue Expenses (incurred) / recovered during the Year - - Net Cash Generated from/(used in) Operations ( A ) 3,421,390 2,611,093 B Cashflow from Financing Activities Increase/(Decrease) in Unit Capital 909,458 (2,529,385) Increase/(Decrease) in Unit Premium (1,284,284) (1,032,856) Adjustments for:- Increase/(Decrease) in Sundry Creditors for Units Redeemed by Investors (624,156) 622,922 (Increase)/Decrease in Sundry Debtors for Units Issued to Investors 778 (779) Dividend paid during the year (including tax on income distributed during the year) (180,137) (85,649) Net Cash (used in)/generated from Financing Activities ( B ) (1,178,341) (3,025,747) Net Increase/(Decrease) in Cash and Cash Equivalents (A+B) 2,243,049 (414,654) Cash and Cash Equivalents as at the beginning of the Year 2,637,509 3,052,163 Cash and Cash Equivalents as at the end of the Year 4,880,558 2,637,509 Components of Cash and Cash Equivalents Balances with Banks in Current Accounts 80,558 509 Deposits with Scheduled Banks 4,800,000 2,637,000 4,880,558 2,637,509 As per our attached report of even date For Franklin Templeton Asset Management (India) Private Limited For S.R. Batliboi and Co. For Franklin Templeton Trustee Sd/- Sd/- Firm Registration no. 301003E Services Private Limited Harshendu Bindal Navroz Seervai Chartered Accountants President Director Sd/- Sd/- Sd/- Anand J. Vashi Vivek Kudva Sachin Padwal - Desai Director Director Vice President & Portfolio Manager Sd/- per Shrawan Jalan Sd/- Sd/- Sd/- Partner Indu Shahani Pallab Roy Vivek Pai Membership No. 102102 Director Senior Manager & Portfolio Vice President Manager July 8, 2011 Mumbai
FRANKLIN TEMPLETON MUTUAL FUND SCHEDULES TO THE BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011 (All amounts in thousands of Rupees unless specified otherwise) 1. BACKGROUND Franklin Templeton Mutual Fund ( the Fund ) was established as a trust under the Indian Trusts Act, 1882, by way of a trust deed dated January 4, 1996, a supplementary trust deed dated March 30, 1996 and August 26, 2005 executed by Templeton International Inc. USA, the sponsor of the Fund. Templeton International Inc. is a part of the Franklin Templeton Investments group. In accordance with the Securities and Exchange Board of India ( SEBI ) (Mutual Funds) Regulations, 1996 ( the SEBI Regulations ), the Board of Directors of Franklin Templeton Trustee Services Private Limited ( the Trustee ) has appointed Franklin Templeton Asset Management (India) Private Limited ('the AMC') to manage the Fund s affairs and operate its Schemes. The objective and other feature of the schemes covered in the financial statement are as under: Scheme Name Nature of the Scheme Date of Allotment Scheme Objective Plans Offered Templeton India Treasury Management Account Open ended mutual fund scheme April 29, 1998 The Scheme seeks to provide The Scheme offered its investors three plans: Regular, current income along with high Institutional and Liquid plan with growth, daily liquidity and safety. dividend and weekly dividend options ('the options') in each of the plans. On September 2, 2005 a new plan namely, Super Institutional plan with growth, daily and weekly dividend options ('the options') was launched by the Scheme. The merger as described in note no. 2 (g), of Templeton India Money Market Account Dividend Plan and Bonus Plan ( MMA ) (the Transferor Scheme ) into Templeton India Treasury Management Account ( TMA ) Daily Dividend Reinvestment Option Liquid Plan and Growth Option Liquid Plan (the Transferee Scheme ) respectively has been accounted as an amalgamation in the nature of purchase as prescribed by Accounting Standard 14 on Accounting for Amalgamations issued by the Institute of Chartered Accountants of India. Accordingly new units in Transferee Schemes respective plans having face value of Rs. 1000 each have been issued to the unit holders of the Transferor Scheme based on exchange ratio calculated with reference to the prevailing per unit Net Asset Value s (NAV s) of the Transferee Scheme and the Transferor Scheme respectively The Board of Directors of Franklin Templeton Trustee Services Private Limited and Franklin Templeton Asset Management (India) Private Limited vide circular resolutions passed on February 1, 2011 have, approved the merger of Templeton India Treasury Management Account Liquid Plan (the 'Merging Plan') into Templeton India Treasury Management Account Regular Plan (the 'Merged Plan'). SEBI has via its letter dated May 20, 2011 conveyed its no objection to the proposed merger of the Plans. Pending completion of the procedural formalities as at March 31, 2011, no adjustments are required to be made to the financial statements of the Scheme. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are marked-to-market. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Board of Directors of the AMC and the Trustee, are stated below. (a) (b) (c) Determination of net asset value - The net asset value of the units of the Scheme is determined separately for units issued under the Plans after including the respective unit capital and reserves and surplus, and reducing net deficit and accumulated discount, if any. - For reporting the net asset values, the daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments, and expenses incurred by the Scheme, are allocated to the Plans in proportion to their respective daily net assets as at the end of the immediately preceding day. Unit capital - Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the year ended on that date. - Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of the Scheme, after an appropriate portion of the issue proceeds and redemption payouts is credited or debited respectively to the equalisation account, a mandatory requirement for open ended mutual fund Schemes. Prior to March 15, 2010, the Unit Premium Reserve was available for dividend distribution except to the extent it is represented by unrealised net appreciation in value of investments. Investments Accounting for investment transactions - Purchase and sale of investments are recorded on the date of the transaction, at cost and sale price respectively, after considering brokerage, commission, securities transaction tax and fees payable or receivable, if any. The front end fee receivable, if any, is reduced from the cost of investment. Valuation of investments - Investments in Central Government securities are valued based on the average of the prices provided by the CRISIL and ICRA on the valuation date with effect from September 1, 2010, as suggested by the Association of Mutual Funds in India ('the AMFI') against the earlier practice of valuing it based on the prices provided by the CRISIL. - Pursuant to SEBI Circular no. SEBI/IMD/CIR No.16/ 193388/2010 dated February 02, 2010, w.e.f July 1, 2010 Traded Debt Securities (other than Government Securities) are valued at the weighted average traded price as on the date of valuation with effect from July 01, 2010 as against the earlier practice of valuing it at the closing market price as on the date of valuation, provided there is an individual trade in that security in marketable lot. - - Non-traded / thinly traded / unlisted debt securities over 91days to maturity, if not traded on the valuation day, are valued using average of benchmark yields/matrix of spreads over risk free benchmark yield obtained from the CRISIL and ICRA as against the earlier practice of valuing Non-traded / thinly traded / unlisted debt securities over 182 days to maturity, if not traded on the valuation day, are valued using average of benchmark yields/matrix of spreads over risk free benchmark yield obtained from the CRISIL and ICRA The securities with call option are valued at the lower of the value as obtained by valuing the security to final maturity and valuing the security to call option. In case there are multiple call options, the lowest value obtained by valuing to the various call dates and valuing to the maturity date is taken as the value of the instrument. The securities with put option are valued at the higher of the value as obtained by valuing the security to final maturity and valuing the security to put option. In case there are multiple put options, the highest value obtained by valuing to the various put dates and valuing to the maturity date is taken as the value of the instruments. - - - Pursuant to SEBI Circular no. SEBI/IMD/CIR No.16/ 193388/2010 dated February 02, 2010, w.e.f July 1, 2010, non-traded / thinly traded / unlisted debt securities of upto 91 days to maturity, if not traded on the valuation day, are valued at cost or last valuation price (in case of securities having maturity period of more than 91 days at the time of purchase) plus difference between the redemption value and the cost or last valuation price spread uniformly over the remaining maturity period of the instrument as against the earlier practice of valuing non-traded / thinly traded / unlisted debt securities of upto 182 days to maturity, if not traded on the valuation day, are valued at cost or last valuation price (in case of securities having maturity period of more than 91 days at the time of purchase) plus difference between the redemption value and the cost or last valuation price spread uniformly over the remaining maturity period of the instrument. In case of floating rate securities with floor and caps on coupon rate and residual maturity of upto 91 days then those are valued on amortization basis taking the coupon rate as floor. Pursuant to SEBI Circular no. SEBI/IMD/CIR No.16/ 193388/2010 dated February 02, 2010, w.e.f July 1, 2010, money market instruments (commercial paper and commercial deposits) with residual maturity of over 91 days, if not traded on the valuation day, are valued using average of benchmark yields/matrix of spreads over risk free benchmark yield obtained from the CRISIL and ICRA as against the earlier practice of valuing them at the last traded yield on the valuation date. - Money market instruments with residual maturity of upto 91 days, if not traded on the valuation day, are valued at the last traded yield on the valuation day. - Treasury bills with residual maturity over 91 days are valued based on the average of prices provided by the CRISIL and ICRA w.e.f. August 13, 2010 as against earlier practice of valuing it at the last traded yield on the valuation day. - Treasury bills with residual maturity of upto 91 days, if not traded on the valuation day, are valued at the last traded yield on the valuation day.
(d) (e) - All other investments are stated at their fair value as determined in good faith by the AMC in accordance with the SEBI Regulations and reviewed by the Trustee. - The net unrealised gain or loss in the value of investments is determined separately for each category of investments. The change in the net unrealised loss, if any, between two balance sheet dates is recognised in the revenue account and the change in net unrealised gain, if any, is adjusted in an unrealised appreciation reserve. The loss on investments sold/transferred during the year is charged to the revenue account. Revenue recognition - Interest on fixed income securities is recognised as income on an accrual basis. - Profit or loss on sale of investments is determined on the basis of the weighted average cost method. - The discount or premium, if any, to the redemption value of debt securities is amortised and recognised as interest income or expense, as the case may be, over the period to redemption. Equalisation account - The purpose of equalization account is to maintain per unit amount of a Plan s/option s share of the Scheme s undistributed income, so that continuing unit holders share of undistributed income remains unchanged on issue or redemption of units under that Plan/Option. - Prior to March 15, 2010, when units were issued or redeemed, the total undistributed income from the beginning of the accounting year to the date of the transaction was determined. Based on the number of units outstanding on the transaction date, the undistributed income associated with each unit was computed. The per unit amount so determined was credited and debited to the equalization account on issue and redemption of each unit respectively. - Pursuant to SEBI circular dated March 15, 2010, the Trustee/AMC has changed the method of calculating equalization per unit w.e.f. that date viz: a) When the sale price is higher than the face value of the unit, the total accumulated undistributed income (including realized gains) till the date of the transaction is determined. Based on the number of units outstanding on the transaction date, the undistributed income (including realized gains) associated with each unit is computed. The per unit amount so determined is credited and debited to the equalization account on issue and redemption of each unit respectively. b) When the sale price is lower than the face value of the unit, the difference between the Net asset value and the par value is debited and credited to the equalization account on issue and redemption of unit respectively. - Pursuant to SEBI circular dated March 15, 2010, an appropriate amount of the realized / unrealized gain has been reallocated between the plans of the Scheme, based on the plans AUM as on March 15, 2010. (f) Load charges - All load, including Contingent and Deferred Sales Charges, charged at the time of purchase and sale of units, is being utilised towards meeting distribution and marketing expenses. The utilization from the balances as at July 31, 2009 is restricted to a maximum of one third of the load balances as at July 31, 2009 as required by the SEBI Circular no. CIR/IMD/DF/4/2011 dated March 09, 2011. With effect from August 01, 2009, exit load upto 1% charged at the time of sale of units, is being utilised towards meeting distribution and marketing expenses. Exit load charged in excess of 1% is credited to the respective Schemes immediately as Other Income. Unutilised amount of load is carried forward to subsequent period. If the amount is considered in excess by the AMC / Trustees, then such excess amount is credited to the respective Schemes as Other Income. (g) Merger of Templeton India Money Market Account ( MMA ) Dividend Plan and Bonus Plan (the Transferor Scheme ) into Templeton India Treasury Management Account ( TMA ) Daily Dividend Reinvestment Option Liquid Plan and Growth Option Liquid Plan (the Transferee Scheme ) respectively. - The merger was approved by the board of directors of the trustee and the AMC vide circular resolution passed on April 08, 2010. SEBI has accorded its no objection for the merger; vide its letter dated August 23, 2010. The investment objective, asset allocation pattern, annual recurring expenses and all other provisions as contained in the Scheme Information Document of Transferee Scheme remains unchanged post the merger. As required by the SEBI Regulations, the AMC had sent letters to unit-holders of both the schemes seeking their approval for the merger with an option to redeem their units at the prevailing NAV at their discretion. The Unit holders who consented to the merger were allotted Units in Templeton India Treasury Management Account ( TMA ) Daily Dividend Reinvestment Option Liquid Plan and Growth Option Liquid Plan based on October 22, 2010 closing NAV of Templeton India Treasury Management Account ( TMA ) Daily Dividend Reinvestment Option Liquid Plan and Growth Option Liquid Plan respectively (THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK)
FRANKLIN TEMPLETON MUTUAL FUND SCHEDULE TO THE BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011 TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT Quantity Amount Schedules March 31, 2011 March 31, 2010 March 31, 2011 March 31, 2010 3 UNIT CAPITAL Units of Rs 1000 each fully paid up Growth Plan Outstanding, beginning of year 425,033.849 375,403.113 425,034 375,403 Issued during the year 939,677.627 1,320,864.856 939,678 1,320,865 Redeemed during the year (1,031,756.502) (1,271,234.120) (1,031,757) (1,271,234) Outstanding, end of year 332,954.974 425,033.849 332,955 425,034 Dividend Plan - Weekly Outstanding, beginning of year 766,473.716 428,911.755 766,474 428,912 Issued during the year 713,852.198 1,586,392.514 713,852 1,586,393 Redeemed during the year (1,152,886.945) (1,248,830.553) (1,152,887) (1,248,831) Outstanding, end of year 327,438.969 766,473.716 327,439 766,474 Dividend Plan - Daily Outstanding, beginning of year 416,701.509 1,370,977.109 416,702 1,370,977 Issued during the year 4,997,274.654 5,220,815.885 4,997,275 5,220,816 Redeemed during the year (5,126,657.269) (6,175,091.485) (5,126,657) (6,175,091) Outstanding, end of year 287,318.894 416,701.509 287,320 416,702 Liquid - Growth Plan Outstanding, beginning of year 270,558.701 243,037.964 270,559 243,038 Issued during the year 1,027,830.034 634,656.792 1,027,830 634,657 Redeemed during the year (1,065,452.496) (607,136.055) (1,065,452) (607,136) Outstanding, end of year 232,936.239 270,558.701 232,937 270,559 Liquid - Weekly Dividend Plan Outstanding, beginning of year 172,744.794 169,053.041 172,745 169,053 Issued during the year 201,048.612 458,682.905 201,049 458,683 Redeemed during the year (268,115.080) (454,991.152) (268,115) (454,991) Outstanding, end of year 105,678.326 172,744.794 105,679 172,745 Liquid - Daily Dividend Option Outstanding, beginning of year 57,405.502 66,364.310 57,405 66,364 Issued during the year 386,146.374 333,120.969 386,146 333,121 Redeemed during the year (321,097.176) (342,079.777) (321,097) (342,080) Outstanding, end of year 122,454.700 57,405.502 122,454 57,405 Institutional - Growth Plan Outstanding, beginning of year 75,951.851 98,420.242 75,951 98,420 Issued during the year 1,884,972.789 4,135,273.362 1,884,973 4,135,273 Redeemed during the year (1,848,186.319) (4,157,741.753) (1,848,186) (4,157,742) Outstanding, end of year 112,738.321 75,951.851 112,738 75,951 Institutional - Weekly Dividend Option Outstanding, beginning of year 26,578.654 10,448.477 26,578 10,448 Issued during the year 420,279.456 240,469.478 420,279 240,469 Redeemed during the year (366,227.748) (224,339.301) (366,228) (224,339) Outstanding, end of year 80,630.362 26,578.654 80,629 26,578 Institutional - Daily Dividend Option Outstanding, beginning of year 92,867.549 237,026.213 92,867 237,026 Issued during the year 5,289,732.007 3,856,420.001 5,289,732 3,856,420 Redeemed during the year (5,183,800.607) (4,000,578.665) (5,183,801) (4,000,579) Outstanding, end of year 198,798.949 92,867.549 198,798 92,867 Super Institutional - Growth Option Outstanding, beginning of year 3,701,924.235 4,767,938.046 3,701,924 4,767,938 Issued during the year 738,768,051.378 433,771,848.016 738,768,051 433,771,848 Redeemed during the year (738,278,010.208) (434,837,861.827) (738,278,010) (434,837,862) Outstanding, end of year 4,191,965.405 3,701,924.235 4,191,965 3,701,924 Super Institutional - Weekly Dividend Option Outstanding, beginning of year 3,163,635.090 2,064,890.113 3,163,635 2,064,890 Issued during the year 14,203,818.269 5,554,956.878 14,203,818 5,554,957 Redeemed during the year (14,015,039.911) (4,456,211.901) (14,015,040) (4,456,212) Outstanding, end of year 3,352,413.448 3,163,635.090 3,352,413 3,163,635 Super Institutional - Daily Dividend Option Outstanding, beginning of year 1,023,274.580 2,608,585.836 1,023,276 2,608,586 Issued during the year 344,467,439.566 152,919,065.168 344,467,440 152,919,065 Redeemed during the year (343,093,513.588) (154,504,376.424) (343,093,514) (154,504,375) Outstanding, end of year 2,397,200.558 1,023,274.580 2,397,202 1,023,276 Total Outstanding, beginning of year 10,193,150.030 12,441,056.219 10,193,150 12,441,055 Issued during the year 1,113,300,122.964 610,032,566.824 1,113,300,123 610,032,567 Redeemed during the year (1,111,750,743.849) (612,280,473.013) (1,111,750,744) (612,280,472) Outstanding, end of year 11,742,529.145 10,193,150.030 11,742,529 10,193,150
FRANKLIN TEMPLETON MUTUAL FUND SCHEDULES TO THE BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011 TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT Schedules March 31, 2011 March 31, 2010 4. RESERVES AND SURPLUS Retained surplus Balance, beginning of year 4,289,468 4,781,333 Net surplus transferred from revenue accoun 416,919 (491,865) Balance, end of year 4,706,387 4,289,468 Total reserves and surplus 4,706,387 4,289,468 5. CURRENT LIABILITIES AND PROVISIONS Current Liabilities Management fees 9,858 7,068 Trusteeship fees 132 51 Registrar service charges 896 - Load pending utilisation 1 - Sundry creditors for units redeemed by investor 1,341 625,497 Dividend payable 3 -* Unclaimed distributed income - -* Unclaimed redemption payable 2 1 Loan Payable 5,750,000 - Other current liabilities 43,779 10,003 5,806,010 642,620 *- Amount is less than rupees one thousand 6. INVESTMENTS (i) (ii) The investments of the Scheme are registered in the name of the Fund for the benefit of the Scheme's unitholders. Aggregate appreciation and depreciation in the value of investments are as follows: Unlisted Securities (Equity linked debentures / Privately placed debentures and bonds / Securitised debt securities) - appreciation - - - depreciation 935 - Money Market Instruments (Commercial papers / Certificate of deposits) - appreciation - - - depreciation 6,404 84 (iii) The aggregate value of investments purchased and sold / redeemed by the Schemeduring the year and these amounts as a percentageof averagedaily net assets are as follows: Purchases - amount 259,516,559 246,773,113 - as a percentage of average daily net assets 723.75 1,065.00 Sales / redemptions - amount 124,521,573 166,366,673 - as a percentage of average daily net assets 347.27 717.99
FRANKLIN TEMPLETON MUTUAL FUND SCHEDULES TO THE BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011 TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT Schedules March 31, 2011 March 31, 2010 (iv) During the year, the Scheme has invested in the equity shares / debentures and bonds of certain companies, which have invested in some of the schemes of the Fund in excess of five percent of those schemes' Net Assets. The Scheme's investmentsin these companies (except for investments in subsidiaries of these companies) as at March 31, 2011 are provided in Annexure 1. 7. DEPOSITS Deposits with scheduled banks 4,800,000 2,637,000 4,800,000 2,637,000 8. OTHER CURRENT ASSETS Cash and Bank Balance Balances with banks in current accounts 80,558 509 80,558 509 CBLO/ Reverse Repo Lending Collateralised securities lending 33,681 49,922 33,681 49,922 Others Sundry debtors for units issued to investors - 778 Outstanding and accrued income 61,204 16,647 Contracts for sale of investments - 150,003 Advances and deposits 38 38 Margin money 71,930 7,730 133,172 175,196 TOTAL 247,411 225,627 *- Amount is less than rupees one thousand. 9. ACCUMULATED UNIT DISCOUNT, NET Balance, beginning of year 1,782,212 1,904,511 Net premiumon ( issue) / redemption of units 62,167 (122,299) Balance, end of year 1,844,379 1,782,212 10 INTEREST Gross Interest Debentures and bonds 2,117,494 682,273 Fixed deposits 309,335 118,448 Collateralised lending / Reverse repo 274,212 239,352 Total Gross Interest 2,701,041 1,040,073 Borrowing cost borne by Scheme 1,096 - Total Net Interest 2,699,945 1,040,073 11. INCOME AND EXPENDITURE The total incomeand expenditure and these amounts as a percentage of the Scheme s average daily net assets on an annualised basis are provided below: Income - amount 2,590,846 1,080,501 - as a percentage of average daily net assets 7.23 4.66 Expenditure (excluding deferred revenue expenditure - amount 124,493 107,608 - as a percentage of average daily net assets Regular Plan 0.85 0.85 Liquid Plan 1.10 1.10 Institutional Plan 0.60 0.60 Super Institutional Plan 0.30 0.38 Management fees (including service tax) - amount 87,655 78,975 - as a percentage of average daily net assets Regular Plan 0.54 0.61 Liquid Plan 0.63 0.75 Institutional Plan 0.40 0.45 Super Institutional Plan 0.22 0.28 Trusteeship fees (including service tax) - amount 1,072 694 - as a percentage of average daily net assets 0.003 0.003
FRANKLIN TEMPLETON MUTUAL FUND SCHEDULES TO THE BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011 TEMPLETON INDIA TREASURY MANAGEMENT ACCOUNT Schedules March 31, 2011 March 31, 2010 13. NET ASSET VALUE Net asset value of each unit of Rs. 1000 of the Scheme Growth Plan (Rs) 2,403.8849 2,267.0900 Weekly Dividend Plan (Rs.) 1,245.4670 1,244.8960 Daily Dividend Plan (Rs.) 1,512.3400 1,512.3400 Institutional Growth Plan (Rs.) 1,527.7787 1,437.2411 Institutional Weekly Plan (Rs.) 1,055.7166 1,055.2252 Institutional Daily Plan (Rs.) 1,000.6730 1,000.6730 Liquid Growth (Rs.) 1,463.7687 1,383.9269 Liquid Weekly (Rs.) 1,001.4667 1,001.0145 Liquid Daily (Rs.) 1,000.6730 1,000.6730 Super Institutional Growth Option (Rs) 1,457.7409 1,367.2477 Super Institutional Weekly Option (Rs) 1,022.1241 1,021.6401 Super Institutional Daily Dividend Option(Rs) 1,000.6730 1,000.6730 The net asset value of the Scheme's unit is determined after including unit capital and any reserves and surplus, and reducing net deficit and accumulated unit discount, if any 14. SEGMENT REPORTING The scheme operates only in one segment viz. to primarily generate returns based on schemes' investment objective. 15. BORROWINGS : During the year, Templeton India Treasury Management Account ( the Scheme ) has entered into a Credit Line arrangement for financial assistance to meet the requirements of its mutual fund business and in particular for funding of the redemption from the unit-holders. During the year, the Scheme had made borrowings within the limits permissible under the SEBI Regulations. The outstanding borrowing as at March 31, 2011 was Rs.575 Crores (Rupees Five Hundred Seventy Five crores Only). As per the terms of the agreement entered with the bank, the borrowing has been secured by a floating charge on rated Public sector bonds, Corporate bonds and Certificate of deposits held by the Scheme. The cost of the borrowing has been shared between the Scheme and the AMC in such a manner that the residual investors of Templeton India Treasury Management Account do not suffer at the cost of the redeeming investors. The borrowing costs of Rs.1,096,438(Rupees Ten Lakh Ninety Six Thousand Four Hundred Thirty Eight Only) to the extent of the returns of the Scheme has been borne by the Scheme and adjusted against interest income 16. INCOME DISTRIBUTION: In case the Scheme having Net Gain / Losses for the period after adjustment of income equalisation lower than the amount of distributed income, the income is distributed to its unitholders out of the distributable surplus available with the respective Schemes, which consists of the net gain / losses for the period after adjustment of income equalisation and the retained earnings / accumulated reserves of earlier periods. 17. PRIOR YEAR COMPARATIVES Prior year amounts have been reclassified, wherever applicable, to conform to the current year's presentation. (THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK)
12. RELATED PARTY DISCLOSURES (i) The Scheme has entered into transactions with certain related parties. The information required in this regard in accordance with Accounting Standard 18 on Related Party Disclosures issued by the ICAI and Regulation 25(8) of the SEBI Regulations, is provided below. Related party relationships Name Templeton International Inc, USA Franklin Templeton Trustee Services Private Limited Franklin Templeton Asset Management (India) Private Limited Franklin Templeton AMC Limited Franklin Templeton International Services (India) Private Limited Templeton Asset Management Ltd - India Darby Asia Investors (India) Private Limited Franklin Resources Inc Franklin Templeton Holding Limited, Mauritius ITI Capital Markets Limited Description of relationship Sponsor of the Fund Trustee of the Fund Subsidiary of the Sponsor and the Scheme's asset manager Subsidiary of the Scheme's asset manager Subsidiary of the Sponsor. Subsidiary of the Sponsor. Subsidiary of the Sponsor. Ultimate holding Company of the sponsor. Holding company of the scheme's asset manager. ITI Capital Markets Limited is a wholly owned subsidiary of Franklin Templeton Asset Management (India) Private Limited Mahindra & Mahindra Financial Services Limited (ceased to be an Associate w.e.f Associate of Franklin Templeton Asset Management (India) October 08,2010) Private Limited (in terms of Regulation 25 (8) of SEBI Regulation) Schemes of the Fund, under common control of the Sponsor Templeton India Low Duration Fund (Formerly Known As Templeton Monthly Income Plan - Debt) Templeton India Pension Plan Templeton India Treasury Management Account Templeton India Short-Term Income Plan Templeton India Money Market Account (merged with Templeton India Treasury Management Account w.e.f October 22, 2010) Templeton India Cash Management Account Templeton India Income Fund Templeton India Government Securities Fund Templeton India Children s Asset Plan Templeton Floating Rate Income Fund Templeton India Growth Fund FT India Monthly Income Plan Franklin India Flexicap Fund FT India Balanced Fund Franklin FMCG Fund FT India Life Stage Fund of Funds Templeton India Income Builder Account Franklin Templeton Fixed Tenure Fund Series I - 60 Month Plan Franklin Templeton Fixed Tenure Fund Series II - 60 Months Plan Franklin Templeton Fixed Tenure Fund Series III - 36 Months Plan Franklin Templeton Fixed Tenure Fund Series IV - 60 Month Plan Franklin Templeton Fixed Tenure Fund Series VI - 60 Months Plan Franklin Templeton Fixed Tenure Fund Series VIII - 60 Months Plan - Plan A Franklin Templeton Capital Safety Fund - 3 Years Plan Franklin Templeton Capital Safety Fund - 5 Years Plan Templeton Fixed Horizon Fund - 13 Months Plan Templeton Fixed Horizon Fund - 15 Months Plan Templeton India Equity Income Fund Franklin Templeton Capital Protection Oriented Fund - 3 Years Plan Franklin Templeton Capital Protection Oriented Fund - 5 Years Plan Franklin Templeton Fixed Tenure Fund Series IX - Plan A Franklin Templeton Fixed Tenure Fund Series IX - Plan B Franklin Templeton Fixed Tenure Fund Series X - Plan A Franklin Templeton Fixed Tenure Fund Series X - Plan B Franklin Templeton Fixed Tenure Fund Series X - Plan C Franklin Templeton Fixed Tenure Fund Series X - Plan D Templeton Fixed Horizon Fund - Series IX - Plan A Templeton Fixed Horizon Fund - Series IX - Plan B Templeton Fixed Horizon Fund - Series IX - Plan C Templeton Fixed Horizon Fund - Series IX - Plan D Templeton Fixed Horizon Fund - Series IX - Plan E Templeton Fixed Horizon Fund Series VIII - Plan A Franklin Pharma Fund Franklin Templeton Fixed Tenure Fund - Series XII - Plan A Franklin Templeton Fixed Tenure Fund - Series XIII- Plan A Templeton India Income Opportunities Fund Franklin Templeton Fixed Tenure Fund - Series XIV- Plan A Franklin Templeton Fixed Tenure Fund - Series XV Franklin India Opportunities Fund Franklin Infotech Fund Franklin India Build Fund Franklin IndiaTaxshield Franklin India Prima Plus Franklin India Prima Fund Franklin India Bluechip Fund Franklin India International Fund Franklin India Index Tax Fund Franklin India Index Fund Franklin India Growth Fund Franklin India Balanced Fund FT India Dynamic PE Ratio Fund of Funds Franklin India Smaller Companies Fund Franklin India High Growth Companies Fund Templeton Fixed Horizon Fund - Series II - Plan A Templeton Fixed Horizon Fund - Series II - Plan B Templeton Fixed Horizon Fund - Series III - Plan A Templeton Fixed Horizon Fund - Series IV - Plan A Templeton Quarterly Interval Plan - Plan A Templeton Quarterly Interval Plan - Plan B Templeton Quarterly Interval Plan - Plan C Templeton India Ultra-short Bond Fund Franklin Asian Equity Fund Templeton Fixed Horizon Fund - Series VII - Plan A Templeton Fixed Horizon Fund - Series VII - Plan B Templeton Fixed Horizon Fund - Series VII - Plan C Templeton Fixed Horizon Fund - Series VII - Plan D Templeton Fixed Horizon Fund Series VIII - Plan B Templeton Fixed Horizon Fund Series VIII - Plan C Templeton Fixed Horizon Fund Series VIII - Plan D Templeton Fixed Horizon Fund Series VIII - Plan E Templeton Fixed Horizon Fund Series VIII - Plan F Templeton Fixed Horizon Fund - Series X - Plan A Templeton Fixed Horizon Fund - Series X - Plan B Templeton Fixed Horizon Fund - Series X - Plan C Templeton Fixed Horizon Fund - Series X - Plan D Templeton Fixed Horizon Fund - Series X - Plan E Templeton Fixed Horizon Fund - Series XI - Plan G Templeton Fixed Horizon Fund - Series XI- Plan A Templeton Fixed Horizon Fund - Series XI- Plan B Templeton Fixed Horizon Fund - Series XI- Plan C Templeton Fixed Horizon Fund - Series XI- Plan H Templeton Fixed Horizon Fund - Series XI- Plan D Franklin Templeton Fixed Tenure Fund - Series XII- Plan B Franklin Templeton Fixed Tenure Fund - Series XII- Plan C Franklin Templeton Fixed Tenure Fund Series XIV - Plan B
(ii) Transactions, if any, with the above mentioned related parties as defined under Accounting Standard 18 and Regulation 25(8) of the SEBI Regulations are provided below Templeton India Treasury Management Accoun Name of related party Nature of transactions Year ended 2011 Balance as at March 31, 2011 Year ended 2010 Balance as at March 31, 2010 Schemes under common control Purchase of investments 51,181,169-36,658,935 - Franklin Templeton Fixed Tenure Fund Series VIII - 60 Months Pl - - 48,087.1 - Franklin Templeton Capital Safety Fund 5 Years Plan 29,699 - - - Franklin Templeton Fixed Tenure Fund Series X - Plan A 149,776 - - - Franklin Templeton Fixed Tenure Fund Series X - Plan B 19,923 - - - Franklin Templeton Fixed Tenure Sr VI - 60 Month Plan 299,552 - - - Franklin Templeton Fixed Tenure Fund Series XIV - Plan B 49,033 - - - Franklin Templeton Fixed Tenure Fund Series II - 60 Months Plan - - 60,239 - FT India Monthly Income Plan 296,311-99,636 - Templeton Fixed Horizon Fund Series VIII - Plan A - - 147,292 - Templeton Fixed Horizon Fund Series VIII - Plan F - - 356,261 - Templeton Fixed Horizon Fund - Series II - Plan A - - 72,174 - Templeton Fixed Horizon Fund - Series II - Plan B - - 24,970 - Templeton Fixed Horizon Fund - Series IX - Plan B - - 754,217.5 - Templeton Fixed Horizon Fund - Series IX - Plan C - - 1,311,437.1 - Templeton Fixed Horizon Fund - Series IX - Plan D - - 1,057,012.9 - Templeton Fixed Horizon Fund Series VIII - Plan E - - 696,955.4 - Templeton Fixed Horizon Fund - Series XI- Plan C - - 4,864.5 - Templeton Floating Rate Income Fund - Long Term Plan 6,728,361-6,585,060 - Templeton Floating Rate Income Fund - Short Term Plan 1,887,126-2,023,457 - Templeton India Cash Management Account 4,122,688-598,788 - Templeton India Income Fund 790,384-78,899 - Templeton India Money Market Account 148,934-94,857 - Templeton India Pension Plan 48,944 - - - Templeton India Short Term Income Plan 5,793,075-728,230 - Templeton India Ultra-Short Bond Fund 28,846,187-20,841,661 - Templeton Fixed Horizon Fund - Series XI- Plan B - - 1,074,835 - Templeton India Income Opportunities Fund 1,792,915 - - - Templeton India Low Duration Fund 178,259 - - - Sale of investments 46,929,906-20,296,920 - Franklin Templeton Fixed Tenure Fund Series IX - Plan A 608,165 - - - Franklin Templeton Fixed Tenure Fund Series X - Plan A 149,616 - - - Franklin Templeton Fixed Tenure Fund Series XII - Plan A 99,628 - - - Franklin Templeton Fixed Tenure Fund Series XII - Plan B 99,628 - - - Franklin Templeton Fixed Tenure Fund Series XIII - Plan A 149,616 - - - Franklin Templeton Fixed Tenure Fund Series XIV - Plan A 49,872 - - - Franklin Templeton Fixed Tenure Fund Series XIV - Plan B 199,256 - - - Franklin Templeton Fixed Tenure Fund Series XV 19,931 - - - Franklin Templeton Fixed Tenure Sr II - 60 Month Plan 159,523 - - - Franklin Templeton Fixed Tenure Sr IV - 60 Month Plan 129,516 - - - Franklin Templeton Fixed Tenure Sr VI - 60 Month Plan 418,786 - - - FT India Monthly Income Plan 1,228,415 - - - FT India Balanced Fund 649,605 - - - Templeton Fixed Horizon Fund Series VIII - Plan B - - 153,349 - Templeton Fixed Horizon Fund Series VIII - Plan D - - 96,415 - Templeton Floating Rate Income Fund - Long Term Plan 10,292,494-3,917,316 - Templeton Floating Rate Income Fund - Short Term Plan 1,742,232-4,432,889 - Templeton India Cash Management Account 6,335,679-3,079,688 - Templeton India Income Opportunities Fund 309,108-2,097,801 - Templeton India Income Builder Account 199,878 - - - Templeton India Income Fund 647,722 - - - Templeton India Money Market Account 129,252-347,481 - Templeton India Pension Plan 848,860 - - - Templeton India Short Term Income Plan 1,526,060 - - - Templeton India Ultra-Short Bond Fund 20,887,472-6,043,946 - Templeton Fixed Horizon Fund - Series III - Plan A - - 128,035 - Templeton India Low Duration Fund 49,592 - - -
Franklin Templeton Trustee Services Private Limited Fees for trusteeship services 1,072 132 694 51 Franklin Templeton Asset Management (India) Private Limited Registrar service charges 7,288 896 4,763 - Fees for management services 87,655 9,858 78,975 7,068 Franklin Templeton Asset Management (India) Private Limited Investment in the plan Super Institutional Plan - Growth Subscriptions (No. of units in '000) 1,228 90 Redemptions (No. of units in '000) 531 - Net Asset Value of investment at Balance Sheet date 1,146,947 123,145.4 Super Institutional Plan - Weekly Dividend Subscriptions (No. of units in '000) -** 451 Redemptions (No. of units in '000) 21 1,376 Net Asset Value of investment at Balance Sheet date - 20,773 Franklin Templeton Trustee Services Pvt Ltd Franklin Templeton International Services (India) Private Limited Darby Asia Investors (India) Private Limited ITI Capital Markets Limited Schemes under common control Franklin India Blue Chip Fund Regular Plan - Growth Subscriptions (No. of units in '000) - - Redemptions (No. of units in '000) - - Net Asset Value of investment at Balance Sheet date - 1,299-1,225 Regular Plan - Weekly Dividend Subscriptions (No. of units in '000) -** -** Redemptions (No. of units in '000) 1 - Net Asset Value of investment at Balance Sheet date - 11,801-12,708 Super Institutional Plan -Daily Dividend Subscriptions (No. of units in '000) 557 750 Redemptions (No. of units in '000) 260 972 Net Asset Value of investment at Balance Sheet date 437,912 140,753 Regular Plan - Daily Dividend Subscriptions (No. of units in '000) - 3 Redemptions (No. of units in '000) - 10 Net Asset Value of investment at Balance Sheet date - - Regular Plan - Weekly Dividend Subscriptions (No. of units in '000) -** -** Redemptions (No. of units in '000) 2 2 Net Asset Value of investment at Balance Sheet date - 2,162 Investment in the Plan Super Institutional Plan - Growth Subscriptions (No. of units in '000) 482 - Redemptions (No. of units in '000) 482 - Net asset value of investment at balance sheet date - - Franklin India Flexi Cap Fund Franklin India Smaller Companies Fund Franklin India Prima Plus Franklin India High Growth Companies Fund Franklin Asian Equity Fund Franklin India Prima Fund Super Institutional Plan - Growth Subscriptions (No. of units in '000) 489 - Redemptions (No. of units in '000) 489 - Net asset value of investment at balance sheet date - - Super Institutional Plan - Growth Subscriptions (No. of units in '000) 220 - Redemptions (No. of units in '000) 220 - Net asset value of investment at balance sheet date - - Super Institutional Plan - Growth Subscriptions (No. of units in '000) 227 - Redemptions (No. of units in '000) 227 - Net asset value of investment at balance sheet date - - Super Institutional Plan - Growth Subscriptions (No. of units in '000) 121 - Redemptions (No. of units in '000) 121 - Net asset value of investment at balance sheet date - - Super Institutional Plan - Growth Subscriptions (No. of units in '000) 92 - Redemptions (No. of units in '000) 92 - Net asset value of investment at balance sheet date - - Super Institutional Plan - Growth Subscriptions (No. of units in '000) 142 - Redemptions (No. of units in '000) 142 - Net asset value of investment at balance sheet date - - ITI Capital Markets Limited Commission for distribution of the Scheme's units (#) 3* - 4* - Mahindra & Mahindra Financial Services Limited Commission for distribution of the Scheme's units (# 46* 71* # The commission is at rates similar to those offered to other distributors by the scheme. * This represents the amount paid / payable for the year and does not necessarily reflect the amount charged to the scheme's Revenue Account. ** - Amount is less than one thousand.
18. SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRYWISE CLASSIFICATION Details of investment portfolio and industrywise classification of the Scheme's investments in each category of investments as at March 31, 2011 are presented below. The industry and company exposure are stated as a percentage of the Scheme's net assets as at March 31, 2011, as well as the aggregate investments in each investment category. Templeton India Treasury Management Account Industry and Company Particulars Quantity Amount Percentage to Net Assets Percentage to Investment category DEBT INSTRUMENTS (a) Securitised Debt Instruments 115 863,641 5.91 100.00 IRST - SERIES VII-Vodafone Essar South Limited 115 863,641 5.91 100.00 Total 863,641 5.91 100.00 Money Market Instruments Commercial Paper 2,800 1,371,245 9.39 100.00 NABARD 2,000 979,866 6.71 71.46 Reliance Capital Limited 800 391,379 2.68 28.54 Total 1,371,245 9.39 100.00 Certificate of Deposit 132,500 13,128,250 89.90 100.00 Vijaya Bank Limited 30,800 3,050,880 20.89 23.24 Corporation Bank Limited 20,000 1,960,796 13.43 14.94 State Bank Of Hyderabad 17,500 1,734,455 11.88 13.21 Punjab National Bank 15,700 1,550,049 10.61 11.81 Andhra Bank 14,500 1,446,411 9.90 11.02 Uco Bank Limited 11,500 1,147,679 7.86 8.74 State Bank Of Travancore 10,000 998,343 6.84 7.60 Canara Bank Limited 7,500 746,946 5.11 5.69 Oriental Bank Of Commerce 2,500 247,773 1.70 1.89 Central Bank Of India 2,500 244,918 1.68 1.86 Total 13,128,250 89.90 100.00 Industry and Company Particulars Quantity Amount Percentage to Net Assets Percentage to Investment category Fixed Deposit 4,800,000 32.87 100.00 Axis Bank Limited 2,000,000 13.69 41.67 Kotak Mahindra Bank Limited 1,050,000 7.19 21.88 Union Bank Of India 1,000,000 6.85 20.83 Yes Bank Limited 750,000 5.14 15.62 Total 4,800,000 32.87 100.00 OTHER CURRENT ASSETS 247,411 1.70 TOTAL ASSETS 20,410,547 139.77 LESS : CURRENT LIABILITIES 5,806,010 39.77 NET ASSETS 14,604,537 100.00