CANARA ROBECO FLOATING RATE FUND. Canara Robeco Floating Rate Fund

Transcription

1 Canara Robeco Floating Rate Fund

2 TRUSTEE REPORT Fund Performance, Future Outlook and Operations of the Funds A) Equity Funds Canara Robeco Equity Taxsaver Fund Canara Robeco Equity Taxsaver, an Equity Linked Savings Fund, seeks to provide long term capital appreciation by predominantly investing in equities. The fund has outperformed the benchmark index for the year ended March 09 and ranked 3 out of the 32 ELSS funds in the peerset by Value Research. The fund moved to CPR~1 ranking as of 31 st March 2009, as published by CRISIL. Return (%) Fund Benchmark (BSE 100) One year % % Since Inception 14.40% 10.32% Canara Robeco Infrastructure Fund Canara Robeco Infrastructure Fund seeks to generate capital appreciation by investing in equities and equity related instruments of companies in the infrastructure sector. The Fund has underperformed the benchmark index during the one year period under review due to sharp fall in the equity markets. The fund ranked 6 out of 13 comparable schemes in the peerset for the one year period ended March 31, 2009 by Value Research in the Infrastructure equity theme funds peer universe. The fund moved to CPR~3 rating from CPR~4 ranking as of 31 st March 2009, as published by CRISIL. Return (%) Fund Benchmark (BSE 100) One year % % Since Inception 2.88% 1.25% Canara Robeco Emerging Equities Fund Canara Robeco Emerging Equities is a fund which invests primarily in mid-cap stocks to seek price appreciation on the same. In , mid-cap stocks did not perform as well as its large-cap peers, and hence, the fund underperformed vis-à-vis the benchmark index. Return (%) Fund Benchmark (BSE 200) One year % % Since Inception -6.30% 5.38% Canara Robeco Equity Diversified Fund Canara Robeco Equity Diversified seeks to generate capital appreciation by investing in diversified equity and equity related securities listed in the Indian stock markets. The fund has outperformed the benchmark for the one year period under review. The Canara Robeco Equity Diversified Fund ranking was CPR~2 as per CRISIL CPR Report published on 31 st March

3 CANARA ROBECO FLOATING RATE FUND Return (%) Fund Benchmark (BSE 200) One year % % Since Inception 16.85% 13.96% Canara Robeco Multicap Fund The Canara Robeco Multicap fund aims to invest in fundamentally strong companies with good scope for appreciation in the long run, across the market capitalization spectrum. The fund underperformed for the financial year due to the sharp fall in the markets during the year. Return (%) Fund Benchmark (BSE 200) One year % % Since Inception % % Canara Robeco Nifty Index Fund Canara Robeco Nifty Index fund is an index linked fund which invests in companies whose securities are a part of the S&P CNX Nifty. The fund has performed in line with the benchmark index. Return (%) Fund Benchmark (S & P CNX Nifty) One year % % Since Inception 11.22% 11.97% B) Balance Funds Canara Robeco Balance Fund Canara Robeco Balance fund is an equity-oriented balanced fund which intends to generate returns from Equity as well as debt securities. The fund has underperformed the benchmark for the one year period under review. The fund moved to CPR~2 ranking from CPR~3 ranking as of CRISIL CPR report of March 31, Return (%) Fund Benchmark (Crisil Balance Fund Index) One year % % Since Inception 7.39% * * Not Comparable as fund was launched before the launch of the benchmark index. Canara Robeco Cigo Fund Canara Robeco Cigo fund is a debt-oriented balanced fund which intends to generate returns largely from debt as well as money market securities. The fund has generated returns in excess of the benchmark for the financial year FY09. Return (%) Fund Benchmark (Crisil MIP Blended Index) One year 6.09% 0.50% Since Inception 10.02% * * Not Comparable as fund was launched before the launch of the benchmark index. 2

4 C) Fixed Income Funds Canara Robeco was adjudged the Bond Fund House of the Year 2008 as per Lipper, a Thomson Reuters Company for its performance across the Fixed Income Funds category. Canara Robeco Liquid Fund The fund has outperformed the peer group average by giving an annualized return of 8.81% for the year ended March 2009, while the average annualized return of the peer group during the same period was 7.93%. Canara Robeco Liquid Fund has been rated mfa1+ (top rating) from ICRA Ltd. Also Canara Robeco Liquid - Institutional Plan has been ranked as a Five Star Fund in the category of Open Ended Liquid Plus - Institutional Plan funds for its 3 year performance till December 31, 2008, by ICRA Online ltd Return (%) Benchmark (Crisil Liquid Fund Index) One year 8.81% 8.81% Since Inception 6.78% * * Not Comparable as fund was launched before the launch of the benchmark Calculated for Retail growth option Canara Robeco Treasury Advantage Fund Canara Robeco Liquid Plus Fund was renamed as Canara Robeco Treasury Advantage Fund in February 2009 as per SEBI directives. The fund has outperformed the peer group average by giving an annualized return of 8.88% for the year ended March 2009, while the average annualized return of the peer group during the same period was 8.38%. Canara Robeco Treasury Advantage Fund has been rated mfaaa (top rating) from ICRA Ltd. Return (%) Benchmark (Crisil Liquid Fund Index) One year 8.88% 8.81% Since Inception 6.87% Calculated for retail growth option Canara Robeco Floating Rate Fund Canara Robeco Floating Rate Fund has outperformed the peer group average by giving an annualized return of 9.30% for the year ended March 2009, while the average annualized return of the peer group during the same period was 8.62%. The Fund has been rated ICRA mf A1+ (top rating) by ICRA Ltd. The fund has been awarded 4 star rating by Value Research with risk grading of average and above average return grade. Also Canara Robeco Floating Rate Fund has been ranked as a Five Star Fund in the category of Open Ended Floating Rate Fund Funds for its 3 year performance till December 31, 2008, by ICRA Online Ltd. Return (%) Fund Benchmark (Crisil Liquid Fund Index) One year 9.30% 8.81% Since Inception 7.79% 6.84% 3

5 Canara Robeco Gilt PGS Fund Canara Robeco Gilt PGS Fund has been awarded the Morningstar Fund Award (India) in the India Open Ended Intermediate/Long Government category for its three-year performance ending December 31, 2008, by Morning Star India under India Intermediate/Long Government category. The fund has outperformed the peer group average by giving an annualized return of 21.89% for the year ended March 2009, while the average annualized return of the peer group during the same period was 12.20%. The fund has also outperformed the Benchmark, which delivered 14.99% for the same period. Return (%) Fund Benchmark (I-Sec Li Bex) One year 21.89% 14.99% Since Inception 10.33% * * Not Comparable as fund was launched before the launch of the benchmark index. Canara Robeco Gilt Fund The fund is a dedicated gilt fund, where in major funds are invested in Government Securities and Treasury Bills. Return (%) Fund Benchmark (I-Sec Li Bex) One year 3.28% 14.99% Since Inception 26.40% * * Not Comparable as fund was launched before the launch of the benchmark index. Canara Robeco Income Fund Canara Robeco Income Fund was awarded the Best Indian Rupee Bond Fund for the 5 year period ending 2008 as per Lipper, a Thomson Reuters Company. Canara Robeco Income Fund is rated 5 Star by Value Research, with risk grading of below average and high return grade. The fund has outperformed the peer group average by giving an annualized return of 27.95% for the year ended March 2009, while the average annualized return of the peer group during the same period was 9.29%. The fund has consistently performed better than the peers over the last one year. The fund has also outperformed the benchmark, which delivered 7.35% for the same period. Return (%) Fund Benchmark (Crisil Composite Bond Fund Index) One year 27.95% 7.35% Since Inception 9.52% 5.64% Canara Robeco Short Term Fund The fund was launched in March 2009 and units were allotted on March 31, Canara Robeco Short Term Fund is rated mfa1+ by ICRA Canara Robeco FMP 13 M SR I The Fund was launched in March 2007 and redeemed on

6 Fund Performance as on CANARA ROBECO FLOATING RATE FUND Absolute Return (%) Fund Benchmark (Crisil Composite Bond Fund Index) Since Inception 10.93% 7.84% Canara Robeco FMP 13 M SR II Return (%) Benchmark (Crisil Composite Bond Fund Index) One year 10.34% 7.35% Since Inception 10.25% Calculated for Institutional Growth option Canara Robeco FMP 14 M SR II The fund was launched in July 2008, units allotted on 8 th July, Absolute Return (%) Benchmark (Crisil Composite Bond Fund Index) Since Inception 7.46% Calculated for Institutional Growth option Canara Robeco FMP 19 M SR 4 The fund was launched in October 2008, units allotted on 14 th October, Absolute Return (%) Benchmark (Crisil Short Term Bond Fund Index) Since Inception 5.46% Calculated for Institutional Growth option Canara Robeco FMP SR3 (QP2) The fund was launched in July 2008, units allotted on 10 th July, Fund redeemed on 13 th October Fund Performance as on Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.67% 1.69% Canara Robeco FMP SR3 (QP3) The fund was launched in July 2008, units allotted on 18 th July, Fund redeemed on 21st October

7 Fund Performance as on CANARA ROBECO FLOATING RATE FUND Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.82% 1.89% Canara Robeco FMP SR3 (QP4) The fund was launched in August 2008, units allotted on 8 th August, Fund redeemed on 10 th November, Fund Performance as on Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.80% 2.00% Canara Robeco FMP SR3 (QP5) The fund was launched in August 2008, units allotted on 14 th August, Fund redeemed on 13 th November, Fund Performance as on Absolute Return (%) Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.66% Calculated for Institutional Growth option Canara Robeco FMP SR4 (QP4) The fund was launched in November 2008, units allotted on 11 th November, Fund redeemed on 10 th February, Fund Performance as on Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.49% 5.18% Canara Robeco FMP SR4 (QP3) The fund was launched in October 2008, units allotted on 21 st October, Fund redeemed on 20 th January, Fund Performance as on Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.54% 5.53% Canara Robeco FMP SR4 (QP2) The fund was launched in October 2008, units allotted on 14th October, Fund redeemed on 13 th January,

8 Fund Performance as on CANARA ROBECO FLOATING RATE FUND Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 3.01% 5.44% Canara Robeco FMP SR4 (QP1) The fund was launched in September 2008, units allotted on 1 st October, Fund redeemed on 31 st December Fund Performance as on Absolute Return (%) Fund Benchmark (Crisil Short Term Bond Fund Index) Since Inception 2.80% 4.96% Canara Robeco Monthly Interval Fund The fund was launched in January 2008 and redeemed on 27 th January, Fund Performance as on Absolute Return (%) Fund Benchmark (Crisil Liquid Fund Index) Since Inception 10.22% 8.73% Canara Robeco Quarterly Interval Fund The fund was launched in January 2008 and units were allotted on January 24, Return (%) Fund Benchmark (Crisil Liquid Fund Index) One year 9.63% 8.81% Since Inception 9.66% 8.60% Canara Robeco Interval SR2 (Quarterly Plan 1) Fund The fund was launched in August 2008 and units allotted on 29 th August, Absolute Return (%) Fund Benchmark (Crisil Liquid Fund Index) Since Inception 5.41% 5.49% Canara Robeco Interval SR2 (Quarterly Plan 2) Fund The fund was launched in September 2008 and units allotted on 10 th September, Absolute Return (%) Fund Benchmark (Crisil Liquid Fund Index) Since Inception 4.48% 5.15% 7

9 Equity Markets Outlook for Financial Year For the year gone by the Markets across the world saw fund flows moving from riskier asset class (Equity) to safer asset class (Bond) and the same was true for India as well. Developed nations like US, Europe and Japan are facing recession resulting into slowing down of the global economy. India has its own problems of rising fiscal deficit and increasing gap in Balance of Payment. The Sensex and CNX Nifty after touching their lows of 8160 and 2524 in September 08 and October 08 respectively have recovered since then due to pro-active decision of Government and Central bank of announcing stimulus packages and easing monetary policies to help stabilize the economy in these uncertain times. Despite all the above concerns, the Game Changer, strong secular and centrist mandate in favour of UPA coalition led by Indian National Congress is a clear signal to purport economic reforms. This is the strongest electoral mandate to any alliance in India s Parliamentary elections since The nation s economic reform process would no longer be held hostage by alliance parties. Indian equities could enter a virtuous cycle somewhat decoupled from the global market dynamics. A strong, stable and pro-reforms government would be seen as a big positive by the foreign investors investing in India in these uncertain times. The said game changer would bring about opening up of various sectors like Insurance, Retail, Aviation and Infrastructure which would attract huge FDI and FII flows in the country on continuing basis. The India story is still intact despite slowdown. The basic themes of Infrastructure development and changing consumption patterns will continue to place India among the attractive investment destinations in the world. Fixed Income Markets Outlook for Financial Year We believe that there will be ample liquidity in the system in the first quarter of FY But, going ahead, we believe that RBI would not hesitate to increase CRR or take appropriate steps to absorb excess liquidity in the system. Inflation which had touched a low of 0.26% in March 2009, could touch 6% by March 10 as the base effect gradually wears off. Following our view on WPI, we could see interest rates hardening towards end of the year. Also the ten year benchmark GOI bond yield could touch 7.50% - 8% in last quarter of this calendar year, while corporate bond spreads over underlying sovereign yield could range between bps. Further supply of corporate bonds would determine the increase in spreads. Given the governments endeavor to stimulate growth and possibility of another stimulus package, there are chances that this fiscal deficit would increase further. Accordingly, government borrowings could increase substantially. Brief background of Sponsors, Trust and Asset Management Company. a. Canara Robeco Mutual Fund Canara Robeco Mutual Fund (CRMF) was set up as a Trust by the Settler, Canara Bank on 17/12/1987 in accordance with the provisions of the Indian Trust Act, 1882 and is duly registered under the Indian Registration Act, CRMF is managed by the Board of Trustees. CRMF appointed Canara Robeco Asset Management Company Ltd. (AMC) as Investment Manager under Investment Management Agreement dated 16/06/1993 for all the Funds of CRMF. CRMF was registered with SEBI on 19/10/1993. Investment Objectives of the Funds Canara Robeco Equity Diversified: To generate capital appreciation by investing in equity and equity related securities. Canara Robeco Equity Tax Saver: ELSS seeking to provide long term capital appreciation by predominantly investing in equities. 8

10 Canara Robeco Emerging Equities: To generate capital appreciation by primarily investing in diversified mid cap stocks. Canara Robeco Nifty Index: To generate income/capital appreciation by investing in companies whose securities are included in the S & P CNX Nifty. Canara Robeco Infrastructure: To generate income/capital appreciation by investing in equities and equity related instruments of companies in the infrastructure sector. Canara Robeco Multicap: The objective of the Fund is to generate income/capital appreciation by investing in equities and equity related instruments of companies spanning the entire market capitalisation spectrum. Canara Robeco Balance: To seek to generate long term capital appreciation and / or income from a portfolio constituted of equity and equity related securities as well as fixed income securities (debt and money market securities). Canara Robeco Cigo: To generate income by investing in a wide range of debt securities and money market instruments of various maturities and risk profile and a small portion of investments in equities and equity related investments Canara Robeco Income: To generate income through investment in Debt and Money Market securities of different maturity and issuers of different risk profiles. Canara Robeco Gilt PGS: To achieve risk free return (except interest rate risk), while maintaining stability of the capital and liquidity. Canara Robeco Gilt: The investment objective of the Fund is to provide a minimum annualized return of 12.25%, distributable half yearly by investing only in Government Securities, PSU Bonds and Money Market Instruments. Canara Robeco Liquid: The investment objective of the Fund is to enhance income, while maintaining reasonably high level of liquidity, through investments in a mix of Money Market Instruments and Debt Securities. Canara Robeco Treasury Advantage: To generate income/capital appreciation through a low risk strategy by investment in debt securities and money market instruments. Canara Robeco Floating Rate: To generate income as well as capital appreciation by mitigating interest rate risk by investing in floating & fixed rate debt instruments. Canara Robeco Short Term Fund: The objective of the Fund is to generate income from a portfolio constituted of short to medium term debt and money market securities. Canara Robeco FMP: The objective of the Fund is to generate returns by investing in fixed income debt securities, the maturity of which would be in tune with the maturity of the respective plans/ series so as to insulate the portfolio from the interest rate volatility, if the investors remain in the fund till maturity. Canara Robeco Interval : To generate returns and growth of capital by investing in Central and State Govt. Securities and other fixed income/ debt securities normally maturing within the maturity of interval plan to insulate the portfolio from interest rate volatility. Significant Accounting Policies: (a Note confirming that Accounting policies are in accordance with Securities Exchange Board of India (Mutual Fund) Regulations Deviation, if any, should be reported.) The Accounting policies of the Fund are in accordance with Securities Exchange Board Of India (Mutual Fund) Regulations

11 UNCLAIMED DIVIDENDS & REDEMPTIONS Summary of No. of Investors & Corresponding amount fundwise Fund Name Unclaimed Dividends Unclaimed Redemptions Amount No. of Amount No. of (Rs.) Investors (Rs.) Investors Canara Robeco Balance (Red) Canara Robeco Diver Canara Robeco Expo Canara Robeco Index Canara Robeco Equity Tax Saver Canara Robeco Income Canara Robeco Cigo Canara Robeco Fortune Canara Robeco Balance II Canara Robeco Multicap Canara Robeco Emerging Equity Canara Robeco Infrastructure Canara Robeco Gilt Pgs Gic Tax Saver Growth Gic Tax Saver Gic Growth Plus Gic Big Value Gic Suraksha Gic Rise Gic Rise II Canstock Canpep Canpep Canpep Cangrowth Canshare Can80cc Canstar Double Rollover Stock Rollover Double Redemption Cantriple Can Demat Can Growth Plus Statutory Information a. Canara Bank and Robeco Groep N. V., being the Sponsors are not responsible or liable for any loss resulting from the operation of the Funds of the Fund beyond their initial contribution (to the extent contributed) of Rs. 10 lakhs 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 ( 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. Place : Mumbai Chairman Date : June 12, 2009 Board of Trustees 10

12 AUDITORS REPORT CANARA ROBECO FLOATING RATE FUND To the Trustees of CANARA ROBECO MUTUAL FUND CANARA ROBECO FLOATING RATE 1. We have audited the attached balance sheet* of CANARA ROBECO MUTUAL FUND CANARA ROBECO FLOATING RATE ( the Scheme ) as at 31 March 2009 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 Canara Robeco Asset Management Company 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 and revenue account 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 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 31 March 2009; b) in the case of the revenue account, of the surplus for the year ended on that date; and c) in the case of the cash flow statement, of the cash flows for the year ended on that date. For S.R. BATLIBOI & CO. Chartered Accountants per Surekha Gracias Place : Mumbai Partner Date : Membership No: * The abridged financial statements that have been attached have been derived from the audited financial statements referred to in the audit report. 11

13 ABRIDGED BALANCE SHEET AS AT 31ST MARCH, 2009 Rupees in Lakhs CANARA ROBECO FLOATING RATE FUND As at As at LIABILITIES 1. Unit Capital 6, , Reserves & Surplus 2.1 Unit Premium Reserves (244.86) (336.61) 2.2 Unrealised Appreciation Reserve Other Reserves 1, , Loans & Borrowings 4. Current Liabilities & Provisions 4.1 Provision for doubtful Income/Deposits 4.2 Other Current Liabilities & Provisions TOTAL 8, , ASSETS 1. Investments 1.1. Listed Securities: Equity Shares Preference Shares Equity Linked Debentures Other Debentures & Bonds Securitised Debt securities 1.2 Securities Awaited Listing: Equity Shares Preference Shares Equity Linked Debentures Other Debentures & Bonds Securitised Debt securities 1.3 Unlisted Securities Equity Shares Preference Shares Equity Linked Debentures Other Debentures & Bonds 3, Securitised Debt securities 2, Government Securities 1.5 Treasury Bills

14 1.6 Commercial Paper 3, Certificate of Deposits 7, , Bill Rediscounting 1.9 Units of Domestic Mutual Fund 2, Foreign Securities 2. Deposits Total Investments 7, , Other Current Assets 3.1 Cash & Bank Balance CBLO/ Reverse Repo Lending Others Deferred Revenue Expenditure (to the extent not written off) TOTAL 8, , Notes to Accounts - Annexure I CANARA ROBECO FLOATING RATE FUND As at As at ABRIDGED REVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31ST MARCH, 2009 Rupees in Lakhs CANARA ROBECO FLOATING RATE FUND Current Previous Year / Period Year / Period ended ended INCOME 1.1 Dividend 1.2 Interest , Realised Gain / (Loss) on Foreign Exchange Transactions 1.4 Realised Gains / (Losses) on Interscheme sale of investments , Realised Gains / (Losses) on External sale / redemption of investments , Realised Gains / (Losses) on Derivative Transactions 1.7 Other Income 1.82 (A) 1, ,

15 CANARA ROBECO FLOATING RATE FUND Current Previous Year / Period Year / Period ended ended EXPENSES 2.1 Management fees Service tax on Management fees Transfer agents fees and expenses Custodian fees Trusteeship fees 2.6 Commission to Agents Marketing & Distribution expenses Audit fees Other operating expenses (B) NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD (A -B = C) 1, , Change in Unrealised Depreciation in value of investments (D) 5. NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D)) 1, , Change in unrealised appreciation in the value of investments (F) (369.98) NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIOD ( E + F = G ) , Add: Balance transfer from Unrealised Appreciation Reserve Less: Balance transfer to Unrealised Appreciation Reserve Add / (Less): Equalisation (711.41) (6,028.28) 8. Total (8.65) 9. Dividend appropriation 9.1 Income Distributed during the year / period , Tax on income distributed during the year / period Retained Surplus / (Deficit) carried forward to Balance sheet (3,148.17) NOTES TO ACCOUNTS - ANNEXURE I 14

16 NOTES TO ACCOUNTS - ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31ST MARCH, Investments: The Investments of the Schemes are registered in the name of the Trustees of Canara Robeco Mutual Fund for the benefits of the Schemes Unitholders Open Position of derivatives : Nil 1.3. Investments in Associates and Group Companies: Aggregate value of Purchases (Rs. in Lakhs) Market Value as on (Rs. in Lakhs) Investment made in the Certificate of Deposit issued by Allahabad Bank Nil Nil Nil 1.4. Open position of Securities Borrowed and / or Lend by the scheme, along with interest : Lending Rs lakhs (Previous year Rs lakhs ) 1.5. Details of NPA: Nil 1.6. Aggregate Unrealised Gain / (Loss) as at the end of the Financial Year / Period and percentage to net assets. : Nil% (Previous year : 0.44%) 1.7. Aggregate Value of Purchase and Sale with Percentage to average assets. (Rs. in lakhs) % of average daily net assets Particulars Purchases 193, ,403, , , Sales 205, ,416, , , Non-Traded securities in the portfolio: As per Portfolio details attached 2. Details of Transaction with Associates under regulation 25(8) 2.1 Bank charges for normal banking transaction(s) paid / payable to Canara Bank during the year is Rs lakhs. (Previous year Rs lakhs). 2.2 Brokerage/Trail fee for marketing the units paid/payable to Canara Bank during the year is Rs lakhs (Previous year Rs lakhs). 2.3 Brokerage for secondary market transactions paid/payable to Gilt Securities Trading Corporation Ltd., a subsidiary of Canara Bank during the year Nil. (Previous year Nil) 3. Large Holdings in the Scheme (i.e. in excess of 25% of the net assets) : Nil 15

17 4. Unit Capital movement during the year ended / period ended No. of Units No. of Units UNIT CAPITAL OF RS 10/- EACH Short Term Plan (Dividend Option) Opening Balance 2,453,776 6,604,287 Sale of units during the year 282,985 8,258,755 Less: Repurchase of units during the year 780,090 12,409,267 Closing Balance 1,956,671 2,453,776 Short Term Plan (Weekly Dividend Option) Opening Balance 3,651,309 28,200,184 Sale of units during the year 7,157, ,318,526 Less: Repurchase of units during the year 6,124, ,867,402 Closing Balance 4,684,524 3,651,309 Short Term Plan (Daily Dividend Option) Opening Balance 112,684, ,319,633 Sale of units during the year 955,278,477 5,760,970,274 Less: Repurchase of units during the year 1,046,537,491 5,900,605,613 Closing Balance 21,425, ,684,294 Short Term Plan (Growth Option) Opening Balance 50,903, ,437,616 Sale of units during the year 1,334,469,639 6,420,332,105 Less: Repurchase of units during the year 1,348,369,654 6,637,866,287 Closing Balance 37,003,419 50,903, Previous years figures have been regrouped wherever necessary. 6. Contingent Liability : a) Underwriting commitments NIL NIL b) Uncalled liability on partly paid shares/debentures NIL NIL c) Other commitments NIL NIL Note: The abridged financial statements have been derived from the audited financial statements of the scheme. 16

18 KEY STATISTICS FOR THE YEAR / PERIOD ENDED 31ST MARCH, 2009 CANARA ROBECO FLOATING RATE FUND Current Previous Year / Period Year / Period ended ended a. NAV per unit - Income Plan (Rs.): Open High Low End b. NAV per unit - Growth Plan (Rs.): Open High Low End c. NAV per unit - Weekly Dividend Plan (Rs.): Open High Low End d. NAV per unit - Daily Dividend Plan (Rs.): Open High Low End Closing Assets Under Management (Rs. in Lakhs) End 7, , Average (AAuM) 4 10, , Gross income as % of AAuM Expense Ratio: a. Total Expense as % of AAuM (plan wise) b. Management Fee as % of AAuM (plan wise) Net Income as a percentage of AAuM Portfolio turnover ratio 3 1, , Total Dividend per unit distributed during the year / period (plan wise) Nil Nil Daily Dividend Reinvestment Plan Weekly Dividend Reinvestment Plan Returns: a. Last One Year Growth Plan Benchmark (Crisil Liquid Fund Index) b. Since Inception Growth Plan Benchmark (Crisil Liquid Fund Index) 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 17

19 SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRYWISE CLASSIFICATION OF CANARA ROBECO FLOATING RATE FUND Details of investment portfolio and industrywise classification of the Scheme s investments in each category of investments at March 31, 2009 are presented below. The industry and company exposures are stated as a percentage of the Scheme s net assets as at March 31, 2009, as well as the aggregate investments in each investment category. Amount Percentage Percentage Industry and Company Particulars Quantity (Rupees in to Net to Investment thousands) Assets category CERTIFICATE OF DEPOSIT Banks 6, , Punjab & Sindh Bank* 2, , Punjab National Bank* 1, , State Bank of Indore* 2, , State Bank of Patiala* , Total 625, Finance 1, , Export Import Bank of India* 1, , Total 145, COLLATERALISED LENDING 23, NET CURRENT ASSETS 1,298 0 NET ASSETS 795, * Non-traded / thinly traded investments 18

20 Unitholders, if they so desire, may access the Annual Report of the Asset Management Company Canara Robeco Asset Management Company Ltd. at our Website: R & T AGENT M/S. COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. CANARA ROBECO FLOATING RATE FUND 178/10 K.H. Road, Opp. Palmgroove, Hotel Nungambakkam, Chennai Tel. : (044) , enq_n@camsonline.com 19

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22 Please read the instructions given at the bottom before filling in the details (Name and addres of the Unitholders) From (Date) CUT HERE Canara Robeco Mutual Fund Construction House, 4th Floor, 5, Walchand Hirachand Marg, Ballard Estate, Mumbai Dear Sirs, Re. : BANK MANDATE Name of the Scheme: I / We give my / our Bank Mandate as below : Bank A/c Details Bank Name Branch A/c No. Folio No. Type of A/c Savings Current Overdraft Other (specify) MICR No. IFSC Code Address (only if change is required) Tel. No. / Mobile No. 9 digits ID: Please update my/our above given bank mandate in your records. (Holder 1) (Holder 2) (Holder 3) INSTRUCTIONS: 1. For receiving direct credit of dividend proceeds in your Bank A/c, Please furnish the 9 digit MICR number /IFSC code appearing at the bottom margin of the cheque issued by your bank. Please enclose a cancelled cheque. 2. If the units are held jointly, all the unitholders are required to sign, while Bank details of the first holder alone are to be furnished. 3. Asper SEBI Regulations it is mandatory for all the investors to provide Bank Account details. So please furnish current Bank Account details to update the records.

23 CANARA ROBECO MUTUAL FUND SALES OFFICES AHMEDABAD Tower A, Unit No: 402/B, 4th Floor, Ganesh Plaza, Opp. Navrangpura Bus Stand, Off. C. G. Road, Ahmedabad , INDIA. Tel.: (079) BANGALORE 4&5, Ground Floor, Business Point, Next to Brigade Towers, 137, Brigade Road, Bangalore , INDIA. Tel.: (0080) /01 Fax: crmf.bangalore@canararobeco.com BHOPAL Kay Kay Business Centre, 1st Floor, 133 Zone 1, M.P. Nagar, Bhopal , INDIA. Tel.: crmf.bhopal@canararobeco.com CHANDIGARGH SCO , 1st Floor, Sector 35B, Chandigargh , INDIA. Tel.: (0172) crmf.chandigarh@canararobeco.com CHENNAI 770-A, 1st Floor, Spencer Annexe, Anna Salai, Chennai , INDIA. Tel.: (044) crmf.chennai@canararobeco.com COIMBATORE Door No. A/1, Thiruvenkataswamy Road (East), R. S. Puram, Coimbatore , INDIA. Tel.: (0422) crmfcoimbatore@canararobeco.com DELHI 306, Kanchen Junga Bldg., 18, Barakambha Road, Delhi , INDIA. Tel.: (011) crmf.delhi@canararobeco.com GOA Shop No 3, Kamat Chamber, Opp. Hotel Neptune, Panajim Goa , INDIA. Tel.: (0832) , crmf.goa@canararobeco.com HYDERABAD Flat No: , IInd Floor, Sanatana Eternal Door No: /1, Road No. 19, Himayat Nagar, Hyderabad , INDIA. Tel.: (040) , crmf.hyderabad@canararobeco.com INDORE Bansi Trade Centre, 107, 1st Floor, 581/5 M.G. Road, Indore , INDIA. Tel.: crmf. indore@canrarobeco.com KOCHI Door No. XL/6030, 1st Floor, Al-Falah Plaza, (Opp. Oriental Bank of Commerce), Broadway North End, Kochi , INDIA. Tel.: (0484) crmf.kochi@canararobeco.com KOLKATA Horizon, Block B, 5th Floor, 57, Chowringhee Road, Kolkata , INDIA. Tel.: (033) , crmf.kolkata@canararobeco.com LUDHIANA Room No. 328, 3rd Floor, Ludhiana Stock Exchange Building, Feroz Gandhi Market, Ludhiana , INDIA. Tel.: (0161) crmf.ludhiyana@canararobeco.com MANGALORE 1st Floor, Essel Towers, Bunts Hostel Circle, Mangalore , INDIA. Tel.: (0824) crmf.manglore@canararobeco.com MUMBAI Construction House, 4th Floor, 5, Walchand Hirachand Marg, Mumbai , INDIA. Tel.: (0712) , crmf.nagpur@canararobeco.com NAGPUR Unit No. C/6, 4th Floor, Indu Yash II, 186 Cement Road, Dharampeth Extension, Nagpur , INDIA. Tel.: (022) crmf.mumbai@canararobeco.com PATNA 401/402, Aashiana, Hariniwas, 4th Floor, Dak Bungalow Road, Patna , INDIA. Tel.: (0612) crmf.patna@canararobeco.com PUNE Deccan Mall, Office No - 2nd Floor, Deccan Gymkhana, Pune , INDIA. Tel.: (020) Tel Fax: (020) crmf.pune@canararobeco.com SURAT Unit Nols.HG1, 2, Megharatna Complex, Near State Bank of India, Athugar Street, Nanpura, Surat , INDIA. Tel.: (0261) crmf.surat@canararobeco.com TRICHY Srinivasa Complex, No. 145/74 C, Salai Road, Thillainagar, Trichy , INDIA. Tel.: (0431) crmf.trichy@canararobeco.com VADODARA 116, Siddharth Complex, R.C Dutt Road, Alkapuri, Vadodara , INDIA. Tel.: (0265) crmf.vadodara@canararobeco.com VISAKHAPATNAM Vidisha Towers, , Flat No.3, 3rd Floor, Dwarkanagar Main Road, Visakhapatnam , INDIA. Tel.: (08910) Tel. fax: (0891) crmf.vizag@canararobeco.com