Seven Investment Ideas

23 April 2014 Seven Investment Ideas An (investment) t) idea can change your (financial) i life

Contents About Mutual Funds Performance of MF categories Seven Investment Ideas 1. Time to SIP in Banking 2. Think of Debt Funds with high yield accrual portfolio 3. Consider Fixed Maturity Plans (FMPs) for tax-efficiency 4. Have some exposure to good Company Fixed Deposits 5. Buy Tax-Free Bonds from secondary markets which offers yield better than Bank FDs 6. Start SIP in Equity Funds for long term financial goals 7. Use Liquid Funds for short term parking Online MF Purchase through MFSS MF Portfolio Login for Client MF Portfolio Analyzer

What is Mutual Funds? Passed back to Generates Returns = Investor Pools money with Fund House Fund Managers invest in Capital Market

Types of Mutual Funds By Investment Objectives By Constitution Equity Hybrid Debt Others Open End Closed End Interval Diversified Fund ELSS (Tax Saving) Sectoral Funds Index Funds ETFs Equity Oriented Debt Oriented Monthly Income Plans (MIPs) Liquid Funds Floating Rate Funds Income Funds Gilt Funds Fixed Maturity Plans (FMPs) Gold ETFs Arbitrage Funds Fund of Funds

Mutual Funds Risk / Return Return << < >> Debt Hybrid & MIP GILT & Bond Funds Short Term Funds Ultra Short Term Funds >> > Return << Equity Sectoral Funds Diversified Funds (ELSS) Index Fund Balanced Funds Liquid fund Arbitrage Funds Low Med High >> Risk << Low Med High >> Risk <<

Mutual Fund Performance

Fund Performance - Equity Category Name No. of Net Assets Absolute Ret % Compounded Ann. Ret % Fund (Cr) 1 mth 3 mth 1 yr 3 yr 5 yr 10 yr LargeCap 81 37,193 5.06 7.47 17.37 5.40 16.04 14.09 Large & MidCap 83 49,071 5.84 8.89 18.30 5.94 17.55 16.47 Mid & SmallCap 67 31,121 8.41 14.18 28.56 9.18 22.92 17.26 MultiCap 27 14,664 6.93 9.57 20.40 6.32 19.38 16.91 Tax Saving Funds 51 23,788 5.59 9.23 21.05 6.75 17.63 15.37 Equity Other 27 5,427 6.76 10.90 19.51 4.21 16.13 16.49 CNX Nifty 4.93 7.52 16.81 5.01 15.39 13.68 CNX Midcap 8.89 13.71 14.67 2.31 18.28 13.93 S&P BSE Small Cap 11.67 16.10 26.53 (4.92) 13.99 13.56 Almost all Equity categories bested Nifty across 1 month to 10 yrs time frame. Mid & Small Cap category has done exceedingly well consistently among others; Fetched 22.60% compounded annualized return in 5 years. Tax Saving Funds astoundingly managed to deliver 21.05 p.a. return in 1 yr time frame and 17.60% CAGR in 5 yrs time frame, though 3 yr returns are lackluster but above Nifty. Returns are as on 22 April 2014

Fund Performance Sector Funds Category Name No. of Net Assets Absolute Ret % Compounded Ann. Ret % Fund (Cr) 1 mth 3 mth 1 yr 3 yr 5 yr 10 yr Sectoral Banking 13 2,453 9.71 15.75 1.43 0.09 20.06 18.36 Sectoral FMCG 2 432 1.96 5.63 14.66 22.92 32.04 24.53 Sectoral Infrastructure 23 6,167 10.92 18.57 14.98 (1.51) 9.61 Sectoral Pharma 3 1,156156 117 1.17 288 2.88 28.92 18.09 31.24 16.53 Sectoral Technology 5 562 0.21 (6.47) 48.90 12.54 27.17 17.17 Global Funds 37 3,562 1.86 (0.02) 17.53 4.53 11.90 7.95 CNX Nifty 4.93 7.52 16.81 5.01 15.39 13.68 CNX Midcap 8.8989 13.71 14.67 2.31 18.28 13.93 S&P BSE Small Cap 11.67 16.10 26.53 (4.92) 13.99 13.56 Defensive sector funds - FMCG and Pharma Funds performed consistently across time periods; offered staggering 31%+ compounded annualized returns in 5 yrs. Technology, Banking and Global Funds showed more volatility in returns. Infrastructure Funds picked up performance in the recent time. In 1 yr horizon, Technology Funds offered blistering 48.90% p.a. returns. Returns are as on 22 April 2014

Fund Performance - Hybrid Category Name No. of Net Assets Absolute Ret % Compounded Ann. Ret % Funds (Cr) 1 mth 3 mth 1 yr 3 yr 5 yr 10 yr Gold Funds 25 13,041 (2.66) 0.99 6.40 7.84 13.14 Arbitrage Funds 11 4,816 0.81 2.12 8.85 8.78 7.43 AssetAllocation 6 1,355 3.34 6.28 13.29 4.65 9.44 14.86 Hybrid Debt Aggressive 27 8,527 2.57 4.37 9.51 7.46 11.56 10.59 Hybrid Debt Conservative 226 28,290 2.12 4.00 9.16 7.51 8.47 8.09 Hybrid Equity Oriented 31 13,880 4.69 7.46 17.45 7.69 16.01 13.39 Hybrid Other 19 1,360 2.04 3.37 9.02 7.51 5.05 2.79 Gold India (1.21) (0.91) 10.04 10.57 15.31 17.70 CiilBl Crisil Balanced dindex 383 3.83 596 5.96 13.58 537 5.37 12.52 11.03 Crisil MIP Index 1.22 2.42 6.65 6.19 7.17 6.70 Gold Funds continued to lose shine. 5 yr returns are commendable but short term returns remain lackluster. Equity oriented hybrid funds [a.k.a. balanced funds] performed in line with Equity Funds categories. Returns are as on 22 April 2014

Fund Performance - Debt Category Name No. of Net Assets Annualized Ret % Compounded Ann. Ret % Funds (Cr) 1 mth 3 mth 1 yr 3 yr 5 yr 10 yr Income Funds Med/Long 87 112,997 10.43 6.00 4.44 8.13 6.44 6.19 Liquid Funds 59 245,455 9.80 8.82 9.14 9.14 7.59 7.04 Liquid Plus 86 98,752 9.67 8.98 8.93 9.21 7.82 7.03 Short Term Income Fund 48 47,725725 10.1414 8.45 7.47 8.90 7.37 7.43 Gilt Med/Long Term 43 5,766 9.98 3.59 1.41 6.94 5.34 5.73 Gilt Short Term 13 1,078 8.63 6.16 8.17 8.17 6.22 5.93 Medium Long Term Income/Gilt Funds 1 yr returns are lower due to rising yield curve during the period. Recent ease up in the yields helped Income Funds to deliver double digit annualised returns in the past 1 month. Returns are as on 22 April 2014

Investment Idea 1 Start SIP/STP in Equity Funds to achieve long term financial goals The most ignored but highly important investment idea is aligning long term financial goals with systematic investment plan (SIP). A financial goal of say Rs 12 lakhs for daughter s marriage hence in 10 yrs can be met by investing Rs. 6, 000 per month by assuming a 10% p.a. return on the conservative side. Is it not wise to start planning for it from now than waiting for a last minute hassle? In Systematic ti Transfer Plan (STP), oneinvest entire money in dbtf debt fund especially liquidid fund then transfer money systematically into equity fund.

How do I do Investment Planning? Start S early Invest regularly Plan for the future

Start Early Start Investing at age 50yrs 45 yrs 40 yrs 35 yrs 30 yrs 25 yrs Monthly Investment t Rs 5,000 Stop Investing at age 60 yrs Investment Period 10 yrs 15 yrs 20 yrs 25 yrs 30 yrs 35 yrs Total Investment (Rs) 6.0 lacs 9.0 lacs 12.0 lacs 15.0 lacs 18.0 lacs 21.0 lacs Current Value (Rs) 11.6 lacs 25.2 lacs 50.0 lacs 94.9 lacs 1.77 3.25 crores crores * Assumes compounded annual returns of 12% over the entire period Difference in returns is almost Rs 2.30 crores! (Investment amount difference is just Rs. 6 lakhs) the sooner you start, makes a difference! The Power of Compounding is the Eighth Wonder of The World Albert Einstein

I Invest Regularly l Inculcate a HABIT to SAVE a certain sum of money each month It is very easy to spend WEALTH, but very difficult to SAVE Weekend trips Entertainment Apparels Leisure Tickets - movie Holidaying We EARN regularly We SPEND regularly So should we not INVEST regularly? Time in the market is more important than timing the market. - Warren Buffett

Plan for the Future A proper planning is required for accomplishing future financial goals.. Housing Children's Education Retirement Children s Marriage Dream Car Holiday Abroad Plan for the future because that s where you re going to be spending the rest of your life - Mark Twain

SIP Performance of Rs 10,000 per month SIP for 10 Yrs SIP for 15 Yrs Total Investment 12.00 Lakh 18.00 Lakh Scheme Name Present Value (Rs.) XIRR (%) Present Value (Rs.) XIRR (%) Reliance Growth 25.26 Lakh 14.45% 141.58 Lakh 24.62% HDFC Equity 28.99 Lakh 17.04% 126.11 Lakh 23.31% Franklin India Prima Plus 26.62 Lakh 15.43% 101.59 Lakh 20.86% HDFC Top 200 28.24 Lakh 16.55% 116.20 Lakh 22.38% # SIP Returns as on 22 April 2014 Additional Investment of Rs 6 lakhs over 5 yrs; is worth Rs 1.15 crores the sooner you start, makes a difference!

Start Systematic Investment Plan (SIP) Systematic Investment (SIP) into Equity Fund is recommended with long term horizon of 5 to 10 yrs. SIP is a method of investing a fixed sum, at a regular interval in a mutual fund. It is very similar to monthly saving schemes like a recurring monthly deposit. SIP offers convenience as direct debit (ECS) option is available. You can continue for as long as you want. Benefits Noneed to time the market Encourages disciplined approach to investments Harness the power of two powerful Investment strategies: Rupee Cost Averaging Benefit from Volatility Power of Compounding Small investments create Big Kitty over time Suitable for Salaried Lighter on the wallet Reap benefits of starting early

Recommended Equity Funds for SIP/ STP Performance of Rs. 1,000 SIP 12 Month SIP 36 Month SIP 60 Month SIP 120 Month SIP Value of Return Value of Return Value of Return Value of Return Scheme Name Rs. 12k XIRR(%) Rs. 36k XIRR(%) Rs. 60k XIRR(%) Rs. 120k XIRR(%) Large Cap Funds Birla SL Top 100 Fund 13,990 38.65 47,210 19.48 83,973 13.85 ICICI Pru Top 100 Fund 13,858 35.96 46,763 18.76 83,294 13.51 256,089 14.71 UTI Opportunities Fund 13,498 28.69 44,644 15.32 81,669 12.69 Mid & Small Cap Funds Franklin India Smaller Cos Fund 15,315 66.73 54,192 30.09 97,246 20.02 HDFC Mid Cap Opportunities Fund 15,058 61.16 49,982 23.81 94,777 18.93 IDFC Premier Equity Fund 14,264 44.32 47,721 20.29 89,490 16.51 T ax Saving Funds Axis LT Equity Fund 14,363 46.39 50,278 24.26 BNP Paribas Tax Adv Fund 13,594 30.62 45,838 17.27 82,588 13.15 ICICI Pru Tax Plan 14,434 47.86 48,103 20.89 86,659 15.16 273,445 15.95 Index Performance S&P BSE SENSEX 13,400 26.74 44,294 14.74 75,843 9.61 219,375 11.78 CNX Nifty Index 13,449 27.71 44,064 14.35 75,625 9.49 217,020 11.57 S&P BSE Small Cap 15,050 60.98 42,052 10.95 64,832 3.16 162,874 6.05 S&P BSE Mid Cap 14,248 43.98 42,467 11.66 69,339 5.92 180,162 8.00 Returns are as on 22 April 2014

Investment Idea 2 Time to SIP in Banking

Time to SIP in Banking We gave a call to invest in ICICI Pru Banking and Financial Services Fund on 14 th March 2014 since then the fund has given 10.78% absolute return till 22 April2014. Bank Nifty: Trending Upward could touch 16,000 by Sept 2015 with some hiccups in between.

Time to SIP in Banking What makes our call continue to be a good option: Improved fiscal & current account deficit (estimated to be 4.5% & 2% of GDP for FY2013 2013 1414 respectively) Stable currency Expectations of business friendly government in the general election Optimistic forecast of GDP growth (5.4% by IMF) Improving liquidity conditions and More importantly, shortly expected downward trajectory of rate cut Reasonable Valuation: Bank Nifty currently trading at 1.89x P/B which less than 50% of its life time high of 3.86x P/B touched in December 2007. Performance of Our Recommended Banking Fund: Fund Rating Launch ICICI Pru Banking and Fin Ser Fund Corpus (Cr) 1Mth 3Mth 1Yr 3Yr 5Yr ***** Aug-08 248 10.19 15.78 11.04 8.18 24.88 Returns less than 1 year are absolute and for more than 1 year is compounded dannualized as on 22 April, 2014.

Investment Strategy Released on 14 th March We believe Banking Sector can go up 20 25% over the next 18 months, may be with some hiccups in the short term. Rate cut may take some time to come into reality, hence we have time in hand to accumulate systematically over a period of time. At this juncture we recommend following 18 months strategy i. Start a SIP/ STP^ in Banking Fund NOW for the next 6 months. ii. Then hold for the next 12 months. This strategy provides the scope for accumulation over the next 6 months and then staying put for the next 12 months. In STP mode initial investment can be made in ICICI Pru Savings Fund. ^ Monthly Systematic Investment Plan / Systematic Transfer Plan

Investment Idea 3 Think of Debt Funds with high yield accrual portfolio

Debt Funds having accrual portfolio At this juncture Debt Market is highly volatile thanks to RBI s moves and FIIs participation. Exposure to Long Term Income Funds/ d/g sec Funds attracts interest rate risk ikas yields ild going upward will have negative impact on returns. [If you are willing to take exposure in long term income fund or G sec fund, do it only when 10 yr G sec yield goes above 9.15%] To play safe bet we are advising to invest in high yield accrual debt funds with a time frame of 15 to 18 months to avoid interest rate risk besides locking funds in the prevalent high yield. Below mentioned are the recommend debt funds having high yield accrual portfolios. Scheme Name Rating Launch YTM % Corpus (Cr) Avg Mat (Yrs) Exit Load % (Tenure) HDFC Corporate Debt Opp Fund N.A. Mar-14 11.38 197 1.00 2% (12M) / 1 % (18M) ICICI Prudential Regular Savings Fund **** Nov-10 10.75 3,757 2.35 1% (15M) We expect more than 10% p.a. return from these funds in the next 15 to 18 months time horizon.

Investment Idea 4 Consider Fixed Maturity Plans (FMPs) for Tax- Efficiency

Fixed Maturity Plans (FMPs) Fixed Maturity Plans (FMPs) is like a bank FD with a LOW taxation structure. FMPs invest in Bank Certificate of Deposits, Corporate Bonds, Commercial Paper (CPs), Money Market Instruments etc. whose maturity coincides with that of the scheme; hence blocking the Interest rate risk. Current Yields: 1 yr Bank CDs: 9.25% p.a. 1 yr AAA rated paper: 9.35% p.a. 2 yrs AAA rated paper: 9.42% p.a. Before rates go down it makes sense to lock-in funds at prevalent rates. We can expect around 9% p.a. yield on the FMPs. The tax-effectiveness is very significant for highest tax bracket individuals.

FMP Tax-effectiveness illustration Illustration of FMP vis à vis Bank FD Fixed Deposit 370Days FMP 370Days FMP 730Days Amount Invested (Rs.) 100,000 100,000 100,000 Assumed Returns (p.a.) 9.00% 9.00% 9.00% Maturity / Repurchase Amount 109,123 109,123 118,000 Indexed Value @7% p.a. inflation rate 107,000 114,490 Taxable Gain (Rs.) 9,123 2,123 3,510 Applicable tax rate^ 30.90% 20.30% # 20.30% # Tax liability (Rs.) 2,819 431 713 Returns after paying tax (Rs.) 6,304 8,692 17,287 Post Tax Annualized Yield (G/A) 6.22% 8.57% 8.64% Effective rate of TAX 30.90% 4.72% 3.96% # LTCG Tax on FMPs is taxed at 10% without Indexation or 20% with Indexation, whichever is lower. ^Highest tax slab considered for the investor. FMP with more than 1 yr tenure is eligible for single indexation benefit and more than 1yrFMPs Effective rate of TAX on FMP in this illustration is 4.72% & 3.96% respectively for 1 yr and 2 yr FMP which is way below 30.90% tax.

FMPs Closing Shortly Fund Name Tenure (Days) Open Close Estimated Indicative Portfolio Yield^ Composition Birla Sun Life FTP Series LI 366 28 Apr 29 Apr 9.10 80 Bank + 20 AA+ ICICI Prudential FMP Series 74 367 Days Plan D 367 21 Apr 28 Apr 9.05 80 Bank + 20 AA+ Birla Sun Life Fixed Term Plan Series LG 367 28 Apr 28 Apr 9.10 80 Bank + 20 AA+ Birla Sun Life Fixed Term Plan Series LF 368 23 Apr 25 Apr 9.10 80 Bank + 20 AA+ Reliance FHF XXVI Series 18 369 23 Apr 29 Apr 9.30 100 CPs [mixed rating] Reliance Fixed Horizon Fund XXVI Series 14 ICICI Prudential Fixed Maturity Plan Series 74 780 Days Plan E Reliance Fixed Horizon Fund XXVI Series 16 775 16 Apr 28 Apr 9.75 100 AA 780 21 Apr 28 Apr 9.00 50 AAA/AA+ 50AA/AA 1093 21 Apr 28 Apr 9.45 100 AA/A ^ Yields are not guaranteed but estimated based on current Bank CDs, CPs yield and it can vary based on the prevalent yields on the closing date of the FMPs.

Investment Idea 5 Have some exposure to good Company Fixed Deposits What's wrong in investing AAA rated companies and getting 10 to 11% p.a. return that too for a year or so horizon?

Focused Company Fixed Deposit Company Fixed Deposits are offering promising interest rates over 1 yr to 3 yrs+ period at a time when Bank FD is offering 8.50-9.00% p.a. When your investment horizon is known to you, itmakessenseto lock-in your investments in good company FD at high interest rate. Min. Deposit Interest Rate (%) for Cumulative option Extra % For Company Name Amount / Multiple 12M 14/15/18M 24M 36M S. Citizen 9.75 Bajaj Capital 150,000/1000 9.25 9.40 9.65 0.25% [15 M] [yearly compounding] Value of Rs. 1 lac 109,250 112,333 119,684 131,834 DHFL Aashray 10.50 36 84M 2,000/1000 10.00 10.00 0.50% Deposit Plus [14 M] 10.00 [half yearly compdng] Value of Rs. 1 lac 110250 1,10,250 121551 1,21,551 134010^ 1,34,010 9.75 Mahindra Finance 10,000/1000 9.25 10.00 10.25 0.25% [18 M] [yearly compounding] Value of Rs. 1 lac 109,250 114,976 121,000 134,010 Shriram Transport Unnati [yearly compounding] 25,000/1000 9.25 9.75 10.75 0.25% Value of Rs. 1 lac 109,250 120,451 135,841 HDFC Platinum 20,000/1000 15M 9.60 22M 9.60 33M 9.50 0.25% [yearly compounding] Value of Rs. 1 lac 112,141 118,300 128,348 ^ In case of DHFL, value of Rs. 1 lac is given for 36 months period.

Investment Idea 6 Buy Tax-Free Bonds from secondary markets which offers yield better than Bank FDs

Tax Free Bond from Secondary Market Till this March, many PSUs/Infra Cos. raised thousands of crores by issuing Tax Free Bonds. As the financial year ended, the flow of issues also stopped. At present many tax free bonds are trading at 5 7% premium to their face value due to higher demand and low supply. It is feared that new tax free bond issues (to be issued this year, if approved in the July budget) are likely to offer lower yields compared to recently listed tax free bonds. For high tax bracket individual the tax free bonds which are available in the secondarymarket offersanattractive investment proposition. A tax free yield of say 8.50% p.a. is comparable with 12.30% p.a. pre tax returns. Which is quite good! The bonds buying from the secondary market depends on availability of liquidity.

Tax Free Bond: Yield Better than Bank FD Issuer Traded data as per ISIN Symbol Credit Rating Date of Allotment Coupon Rate(%) Residual Last Trade Maturity Price (Rs) YTM (%) HUDCO BSE INE031A07AG1 961863 AA+ 24 Mar 14 8.98% 14.96 Years 1,030 8.68% HUDCO BSE INE031A07915 961782 AA+ 25 Oct 13 8.51% 14.55 Years 1,020 8.76% HUDCO BSE INE031A07AH9 961865 AA+ 24 Mar 14 8.96% 19.96 Years 1,025 8.48% IIFCL BSE INE787H07438 961897 AAA 27 Mar 14 8.80% 19.97 Years 1,030 8.52% IIFCL BSE INE787H07313 961798 AAA 12 Nov 13 8.75% 19.60 Years 1,062 8.48% IIFCL BSE INE787H07180 961771 AAA 26 Mar 13 7.08% 18.97 Years 840 8.92% IRFC NSE INE053F07579 IRFCN4 AAA 19 Feb 13 13 7.34% 13.87 Years 930 8.68% NHB NSE INE557F07132 NHBTF2014N6 AAA 13 Jan 14 9.01% 19.77 Years 5,341 8.52% NHB NSE INE557F07199 NHBTF2023 N7 AAA 24 Mar 14 8.90% 19.96 Years 5,225 8.48% NHPC BSE INE848E07559 961791 AAA 02 Nov 13 8.79% 14.57 Years 1,012 8.68% NHPC BSE INE848E07567 961792 AAA 02 Nov 13 8.92% 19.58 Years 1,080 8.12% NTPC BSE INE733E07JJ9 961810 AAA 16 Dec 13 8.91% 19.70 Years 1,098 8.20% PFC BSE INE134E07364 961773 AAA 28 Mar 13 7.04% 13.97 Years 862 8.84% PFC BSE INE134E07463 961804 AAA 16 Nov 13 8.92% 19.61 Years 1,089 8.36% PFC BSE INE134E07455 961801 AAA 16 Nov 13 8.67% 19.61 Years 1,015 8.88% REC BSE INE020B07IG5 961875 AAA 24 Mar 14 8.88% 88% 14.96 Years 1,049 8.36% REC BSE INE020B07HS2 961779 AAA 24 Sep 13 8.71% 14.47 Years 1,052 8.48% REC BSE INE020B07IH3 961877 AAA 24 Mar 14 8.86% 19.96 Years 1,030 8.60% Data on 15 April 2014. The prices and other details of these tax-free bonds can be seen on the BSE and NSE website.

Investment Idea 7 Use Liquid Funds for short term parking

How much interest your saving bank account is offering?

Yes, it is paltry 4% p.a. in most of the banks & upto 7.50% p.a. in flexi bank account.

Liquid Funds for Short Term Parking: If you are holding larger sum of money in bank saving account, then you are destroying your wealth. The meager returns earned in saving account doesn't even beat inflation and offers negative real rate of return on investment. Therefore, we recommend to park short term money in liquid funds to earn appx. 9% p.a. returns which can be withdrawn anytime. The settlement cycle next day you will get money in your bank account. is T+1, meaning if you withdraw today, then by List of Performing Liquid Funds is given on the next slide.

Performing Liquid Funds Scheme Name Rating Launch YTM % Corpus (Cr) Annualized % CAGR % 1 Mth 3 Mth 1 Yr 3 Yr Axis Treasury Advantage Fund **** Mar 10 9.41 1,358 9.84 9.28 9.58 9.51 ICICI Pru Savings Fund *** Nov 05 9.57 1,017 9.24 8.88 9.24 9.37 Reliance Money Manager Fund **** Mar 07 9.40 7,652 10.08 9.16 9.54 9.47 SBI Magnum Income FRP Saving Plus Bond ***** Jul 04 9.70 484 10.32 9.00 9.34 9.49 Sundaram Ultra Short Term Fund ***** Apr 07 9.00 982 10.08 9.40 9.85 9.84 Returns are as on 21 April 2014

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Disclaimer Risk Factors: Mutual funds, like securities investments, are subject to market risks and there is no guarantee against loss in the schemes or that the schemes objectives will be achieved. As with any investment in securities, the NAV of the units issued under the schemes can go up or down depending on various factors and forces affecting capital markets. Past performance of the Sponsor /the AMC/the Mutual Fund does not indicate the future performance of the schemes. Please read the scheme information documents of the scheme and the statement of additional information before investing.