HELPING YOU SPOT OPPORTUNITIES

Transcription

1 HELPING YOU SPOT OPPORTUNITIES Investment update - April 2011

2 Give your investments a taste of experience. Invest in Magnum Equity. SBI Mutual has been actively managing investor s assets since With 20 years of rich experience in fund management, we have consistently delivered value to our investors. SBI Mutual presents Magnum Equity, an open-ended equity scheme which offers investors growth potential and capital appreciation to help you plan for your future needs in the medium to long term. Invest in Magnum Equity today and benefit from the long term growth potential! Call: SMS: 'SBIMF' to Visit: Risk Factors: Mutual s and Securities Investments are subject to market risks and there is no assurance or guarantee that the scheme's objectives will be achieved. As with any other investment in securities, the NAV of the Magnums/Units issued under the scheme(s) may go up or down depending upon the various factors and forces affecting the securities market. Past performance of the Sponsor/AMC/Mutual /Scheme(s) and their affiliates do not indicate the future performance of the Scheme(s) of the Mutual. Investment Objective: Magnum Equity (An open ended equity scheme) - To provide the investor long term capital appreciation by investing in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities and the balance in debt and money market instruments. Magnum Equity is only the name of the scheme and does not in any manner indicate the quality of the scheme, its future prospects and returns. Statutory details: SBI Mutual has been set up as a trust under the Indian TrustsAct, State Bank of India ('SBI'), the sponsor is not responsible or liable for any loss resulting from the operation of the schemes beyond the initial contribution made by it of an amount of Rs. 5 lakhs towards setting up of the mutual fund. Asset Management Company: SBI s Management Private Limited (Ajoint venture between SBI and Société GénéraleAsset Management). Trustee Company: SBI Mutual Trustee Company Pvt. Ltd. Please read the Scheme Information Document carefully before investing.

3 From the Managing Director s Desk Deepak Kumar Chatterjee MD & CEO A lot of volatility was seen in the markets during the month of March and eventually the equity markets ended the month with substantial gains. The geo-political unrest in the middle-east and the earthquake cum tsunami in Japan were together responsible for the initial downturn in the markets during the month. However, markets changed trend and posted handsome gains for the month with the BSE Sensex closing up 9.10% while S&P Nifty made a 9.38% gain. The other mega event of the month, ICC Cricket World Cup, also drew huge interest from all sections of society and the Indian Cricket team made all of us proud by winning the coveted tournament and exhibiting excellent all round performance. The volatile market conditions signify the importance of investing in the equity markets in a disciplined way. And or Systematic Investment Plan is perhaps one of the best ways of doing so without bothering about timing the market. is a very effective and useful tool for long term wealth creation. facility is available in our equity schemes with investment value as low as Rs. 500 per month. Please get in touch with our RMs at your nearest SBI MF Investor Service Centre / Investor Service Desk and they will assist you in enrolling for the same. I am glad to share with you that our quarterly average AUM for the period January - March 2011 stands at Rs. 41,671 crores. We have also had a sizeable amount of growth in assets during the year , thanks to the support from all our investors. As we enter the new financial year, let me take this opportunity to assure you that we would continue to offer innovative investment solutions to our investors. We are absolutely committed to providing unparalleled service to our investors and to cater to your information, investment and servicing needs. Please feel free to call at our dedicated customer care numbers (MTNL/BSNL users only) and from Monday to Saturday (8am 10pm) or write to us at customer.delight@sbimf.com with your queries. Alternatively you can also visit your nearest Investor Service Centre / Investor Service Desk for any assistance. Best regards, Deepak Kumar Chatterjee MD & CEO

4 Market Overview Navneet Munot Chief Investment Officer March turned out to be very volatile as series of negative newsflow gripped the market at the start of the month, however, investors mounted the wall of worry and Sensex gained 9% at close. Natural disaster in Japan, continued unrest in middle-east and North Africa region (MENA) pushing crude oil prices higher and worries over domestic macro-economic and political situation kept the markets under pressure, however, the trend reversed in the second half the month. Foreign investors turned net buyers and poured over a billion dollar in last few sessions as risk aversion receded and valuation started looking attractive. The legendary investor, Warren Buffet made his first visit to India and his remarks over the long term prospects of Indian economy helped in reversing the negative sentiments prevailing here. As the market views were getting polarized towards a bearish trend and positions were light, large buying by foreign investors amidst thin liquidity led to a swift rally. Dramatic turnaround in the equity markets matched the performance of Indian cricket team in the ICC world cup Geo-political situation in the middle-east remained fluid and crude oil prices climbed 10% during the month. We believe that monetary tightening in emerging world should put downward pressure on global commodities, however, a significant component of rise in crude oil price stems from the geo-political risk. This remains the single biggest cause of concern as higher crude oil prices will push up inflation and put pressure on current account as well as fiscal situation. Higher energy and food prices have created a policy dilemma for the central bank. To check the risk of potential spillover from higher food and energy prices into more generalized inflation, RBI has been pursuing a tight policy with a combination of liquidity measures and interest rate increases. The underlying assumption was that economic recovery remained robust and policy actions had to focus on the goal of price stability. economy is projected to grow at 8.6% for FY , there are signs that growth momentum is slowing down. There has been sharp decline in monthly Index of Industrial Production (IIP) data over the last few months. While the consumption component continues to show resilience, the slowdown in capital investment shows weakness in the investment climate. There has been an environment of uncertainty on the global as well as domestic front and a tighter policy with lagged effect could pose threat to the growth outlook going forward. The RBI Midquarter policy review in March continued to maintain the fine balancing act between the objectives of maintaining price stability by reining in demand side pressures while seeking to minimize downside risks to the growth momentum. RBI increased the policy rates by 25 bps and highlighted the risks emanating on both the policy objectives i.e. price stability and containing inflationary expectations and maintaining growth. The medium term economic growth trajectory would be guided by the progress on the reforms front and the supply side responses on the agricultural sector. The union budget announcement on increasing the share of manufacturing to GDP to 25% from the current 16% and the rollout of the GST and Direct Taxes Code are also expected to provide a structural impetus to maintaining the growth momentum. The finance minister has announced that a spate of legislative reforms pertaining to financial sector would be undertaken in the near term. The government has indicated steps towards addressing the critical issue of fuel, fertilizers and food subsidies which would go a long way in ensuring

5 fiscal consolidation. The need of the hour is to focus on giving a significant push towards building physical and social infrastructure to maintain the growth trajectory. While there are some dark clouds on the horizon, we believe that given the multiple growth drivers, structural factors and low base, Indian economy would continue to post one of the highest growth rates and throw several opportunities for patient long term investors. Having witnessed a sharp rally in March, the equity market is likely to move in narrow range over the next few months and trend would depend on the cues from global markets, incremental economic data and corporate earnings. Given the backdrop of macro concerns, outlook on corporate earnings growth has weakened. Margins could be under pressure due to increase in raw material prices, wages and interest rates. Higher inflation, rising rates and tight liquidity could also impact discretionary spending. Market would also be watching the progress of Monsoon and outcome of several state elections due in this quarter. We have been recommending investors to take advantage of the downturn in equity market as long term outlook remained positive. It is always difficult to time the market and best way is to build exposure to equities through a systematic investment plan. The recent rally highlights the importance of maintaining discipline of asset allocation. Short term rates have moved up over the last quarter as tight systemic liquidity coupled with large supply from banks resulted in money market rates moving up to near 10.20% in the 3 month segment towards the March-end. The one year CD rates remained supported near 10.15%-10.20% levels on account of demand from Mutual funds for Fixed maturity Plans. Market has witnessed tight liquidity since the beginning of June 2011 when 3G/ BWA auction payment outflows to the Government of India hit the banking system. The frictional source of liquidity deficit has been the large government balances being built up with the RBI. This has got accentuated during the times of Advance tax outflows. On a more structural side, the huge imbalance between the credit and deposit growth of the banking sector and the increased currency in circulation with the public has pressurized the banking system liquidity. Going forward, the overall liquidity situation is expected to move close to the comfort level of the Reserve Bank at +/- 1% of NDTL as the frictional factor unwinds. Short term money market rates are expected to ease substantially going forward, especially in the first half of April. However, the structural factors would take time to unwind and the rollover of bank CD s towards May-June could again put an upward pressure on rates, even as the peaks witnessed in the Jan-Mar 2011 quarter are unlikely to be retested. The Government s fiscal position has been better than market expectations which led to a rally in Government bonds after the Union Budget. In view of the under budgeting of subsidies the eventual evolution of the borrowing program would still be challenging, especially in a stubbornly inflationary scenario. The first half borrowings of Rs 2.5 lakh crores have been in line with the market estimates. Maintaining the FY deficit target of 4.6% and net borrowing of Rs lakh crores (including T-bills of Rs. 15,000 crores) look challenging to achieve as subsidies are seriously under-estimated. Revenue growth targets look achievable but expenditure containment would be challenging., continued global uncertainty, recent growth in Bank NDTL and bleak prospects of growth in the developed economies along with RBI s current significant moves to tackle inflation would keep a check on rising bond yields. On balance, it is expected that long term interest rates would see an upward bias and could peak out in this quarter.

6 EQUITY Schemes: Large Cap & Blend Schemes opedia Magnum Multicap : To provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks spanning the entire market capitalization spectrum and in debt and money market instruments. Magnum Equity : To provide the investor long-term capital appreciation by investing in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities and the balance in debt and money market instruments. Magnum Index : The scheme will adopt a passive investment strategy. The scheme will invest in stocks comprising the S&P CNX Nifty index in the same proportion as in the index with the objective of achieving returns equivalent to the Total Returns Index of S&P CNX Nifty index by minimizing the performance difference between the benchmark index and the scheme. The Total Returns Index is an index that reflects the returns on the index from index gain/loss plus dividend payments by the constituent stocks. Magnum Multiplier Plus: To provide investors long term capital appreciation along with the liquidity of an open-ended scheme. The scheme will invest in a diversified portfolio of equities of high growth companies. SBI Blue Chip: To provide investors with opportunities for long-term growth in capital through an active management of investments in a diversified basket of equity stocks of companies whose market capitalization is at least equal to or more than the least market capitalized stock of BSE 100 Index. Magnum Taxgain Scheme: The prime objective of this scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under Section 80 C of the Income-tax Act, It also seeks to distribute income periodically depending on distributable surplus. SBI One India : To provide investors with opportunities for long term growth in capital through an active management of investments in a diversified basket of equity stocks focusing on all four regions of India and in debt and money market instruments. Magnum Sector s Umbrella-Contra : To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Magnum Sector s Umbrella-Emerging Businesses : The investment objective of the Emerging Business would be to participate in the growth potential presented by various companies that are considered emergent and have export orientation/outsourcing opportunities or are globally competitive. The fund may also evaluate emerging business with growth potential and domestic focus. Sectorial Schemes Magnum Sector s Umbrella-FMCG : To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Magnum Sector s Umbrella-IT : To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Magnum Sector s Umbrella-Pharma : To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Magnum Comma : To generate opportunities for growth along with possibility of consistent returns by investing predominantly in a portfolio of stocks of companies engaged in the commodity business within the following sectors - Oil & Gas, Metals, Materials & Agriculture and in debt & money market instruments. SBI Infrastructure : To provide investors with opportunities for long-term growth in capital through an active management of investments in a diversified basket of equity stocks of companies directly or indirectly involved in the infrastructure growth in the Indian economy and in debt & money market instruments. SBI PSU : The objective of the scheme would be to provide investors with opportunities for long- term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings and in debt and money market instruments issued by PSUs and others.

7 EQUITY Schemes: Small & Mid cap Schemes opedia Magnum Global : To provide investors maximum growth opportunity through well researched investments in Indian equities, PCDs and FCDs from selected industries with high growth potential and in Bonds. Magnum Midcap : To provide investors with opportunities for long-term growth in capital alongwith the liquidity of an open-ended scheme by investing predominantly in a well diversified basket of equity stocks of Midcap companies. Midcap companies are those companies whose market capitalization at the time of investment is lower than the last stock in the S&P CNX Nifty Index less 20% (upper range) and above Rs.200 crores. Market neutral Strategy SBI Arbitrage Opportunities : To provide capital appreciation and regular income for unit holders by identifying profitable arbitrage opportunities between the spot and derivative market segments as also through investment of surplus cash in debt and money market instruments. Hybrid Schemes - Equity Oriented Magnum Balanced : To provide investors long term capital appreciation along with the liquidity of an open-ended scheme by investing in a mix of debt and equity. The scheme will invest in a diversified portfolio of equities of high growth companies and balance the risk through investing the rest in a relatively safe portfolio of debt. Magnum NRI Investment : To provide attractive returns to the Magnum holders either through periodic dividends or through capital appreciation through an actively managed portfolio of debt, equity and money market instruments.

8 An Open-ended Balanced Scheme Date of Inception : 31/12/1995 An Open-ended Balanced Scheme To provide investors long term capital appreciation along with the liquidity of an open-ended scheme by investing in a mix of debt and equity. The scheme will invest in a diversified portfolio of equities of high growth companies and balance the risk through investing the rest in a relatively safe portfolio of debt. Mr. Dharmendra Grover - Equity Mr. Dinesh Ahuja - Debt 13 yrs. 9 months 12 yrs. 11 months 8 months 2 months : Crisil Balanced Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs year 3 years 5 years Since Inception 4.23% 7.49% 9.94% 17.13% 9.37% 8.13% 10.59% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Ratio Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio 25.24% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 28-Mar Nov Nov Nov INFOSYS TECHNOLOGIES LIMITED 6.36% HINDUSTAN UNILEVER LIMITED 4.79% RELIANCE INDUSTRIES LIMITED 4.71% STATE BANK OF INDIA 4.11% BHARTI AIRTEL LTD 3.71% ICICI BANK LTD 3.37% BANK OF INDIA 3.21% BHARAT ELECTRONICS LTD 2.91% BANK OF BARODA 2.62% LARSEN & TOUBRO LIMITED 2.59% Total 38.38% AUTOMOBILE CEMENT & CEMENT PRODUCTS CHEMICALS CONSTRUCTION CONSUMER GOODS ENERGY ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT METALS MISCELLANEOUS PAPER PHARMA PRECIOUS METALS SERVICES SOVEREIGN TELECOM TEXTILES SECTORAL BREAKDOWN % 7.45% % Large Cap Small Cap 64.83% Mid Cap Other Current Assets 1

9 An Open-ended Equity Linked Savings Scheme Date of Inception : 31/03/1993 An Open-ended Equity Linked Savings Scheme The prime objective of this scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under Section 80 C of the Incometax Act, It also seeks to distribute income periodically depending on distributable surplus. FUND MANAGER/S Mr. Jayesh Shroff 9 yrs. 9 months 4 yrs. 3 months : BSE 100 Index NIL 1 year 3 years 5 years Since Inception 3.93% 5.56% 10.41% 17.64% 8.55% 7.04% 11.32% 13.56% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 32.07% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 18-Mar Mar May Feb ICICI BANK LTD 5.98% INFOSYS TECHNOLOGIES LIMITED 5.81% STATE BANK OF INDIA 4.95% TATA CONSULTANCY SERVICES LIMITED 4.59% HDFC BANK LIMITED 4.19% RELIANCE INDUSTRIES LIMITED 3.74% GAIL (INDIA) LTD 3.14% MAHINDRA & MAHINDRA LIMITED 3.00% CADILA HEALTHCARE LIMITED 2.86% DR.REDDYS LABORATORIES LIMITED 2.71% Total 40.97% 18.10% Large Cap Small Cap 2.55% 2.15% 77.20% Mid Cap Other Current Assets s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs. 500 Rs. 500 SECTORAL BREAKDOWN AUTOMOBILE 5.19 CEMENT & CEMENT PRODUCTS 2.45 CHEMICALS CONSTRUCTION 3.13 CONSUMER GOODS 9.34 ENERGY ENGINEERING 0.86 FERTILISERS & PESTICIDES 2.64 FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING 7.61 IT MEDIA & ENTERTAINMENT 1.84 METALS 3.95 MISCELLANEOUS PAPER PHARMA 9.36 PRECIOUS METALS SERVICES 0.92 SOVEREIGN TELECOM TEXTILES

10 Date of Inception : 14/10/2005 An Open-ended Scheme To provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks spanning the entire market capitalization spectrum and in debt and money market instruments. 1 year 3 years 5 years Since Inception -0.95% 2.11% 4.81% 10.89% 8.55% 7.04% 11.32% 16.65% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 30.89% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 18-Jan Jan FUND MANAGER/S: Mr. Dharmendra Grover 13 yrs. 9 months 9 months : BSE 100 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs RELIANCE INDUSTRIES LIMITED 7.57% HDFC BANK LIMITED 6.21% ICICI BANK LTD 6.12% INFOSYS TECHNOLOGIES LIMITED 4.80% BHARTI AIRTEL LTD 4.63% ITC LIMITED 4.38% ORACLE FINANCIAL SERVICES SOFTWARE LIMITED 3.12% OIL & NATURAL GAS CORPN LTD 3.09% LARSEN & TOUBRO LIMITED 3.04% CANARA BANK 2.83% Total 45.79% AUTOMOBILE CEMENT & CEMENT PRODUCTS CHEMICALS CONSTRUCTION CONSUMER GOODS ENERGY ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT METALS MISCELLANEOUS PAPER PHARMA PRECIOUS METALS SERVICES SOVEREIGN TELECOM TEXTILES SECTORAL BREAKDOWN % Large Cap Small Cap 4.07% 0.37% 74.20% Mid Cap Other Current Assets

11 Mr. R. Srinivasan 18 yrs, 6 months An Open ended Equity Scheme Date of Inception : 01/01/1991 An Open-ended Equity Sheme To provide the investor long-term capital appreciation by investing in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities and the balance in debt and money market instruments. 1 yr, 10 Months : BSE 100 Index (by Value Research) For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters 1 year 3 years 5 years Since Inception 10.69% 10.03% 13.85% 15.64% 8.55% 7.04% 11.32% 15.92% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 33.02% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data BENEFITS OF SYSTEMATIC INVESTMENT PLAN () If you had invested in a monthly of Rs. 1000/- for 5 yrs in Magnum Equity, your investment of Rs. 60,000/- would be worth Rs against BSE 100 () which would be worth Rs It is assumed that the date of 1st instalment of was 5th April, Value of is computed using accumulated units multiplied by NAV as on 31th March, 2011.The data assumes the investment of Rs. 1000/- on 5th day of every month or the subsequent working day. Load and taxes are not considered for computation of returns. Past performance may or may not be sustained in future. RELIANCE INDUSTRIES LIMITED 8.87% INFOSYS TECHNOLOGIES LIMITED 8.14% HDFC BANK LIMITED 7.72% STATE BANK OF INDIA 7.41% ICICI BANK LTD 7.38% ITC LIMITED 5.81% SUN TV NETWORK LTD 3.19% BOSCH LIMITED 3.12% BHARTI AIRTEL LTD 3.03% CADILA HEALTHCARE LIMITED 2.99% Total 57.66% SECTORAL BREAKDOWN LAST DIVIDENDS: Record Date (in Rs./Unit) 28-Jan Dec Nov Oct Large Cap Small Cap 3.74% 96.26% Mid Cap Other Current Assets Rs Rs. 500 AUTOMOBILE 7.25 CEMENT & CEMENT PRODUCTS CHEMICALS CONSTRUCTION 2.65 CONSUMER GOODS ENERGY ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING 4.02 IT MEDIA & ENTERTAINMENT 3.19 METALS 5.02 MISCELLANEOUS PAPER PHARMA 4.99 PRECIOUS METALS SERVICES SOVEREIGN TELECOM 3.03 TEXTILES

12 49.53 Divided TRACKING ERROR 1.54% An Open-ended Index Scheme Date of Inception : 04/02/2002 An Open-ended Passively Managed Scheme The scheme will adopt a passive investment strategy. The scheme will invest in stocks comprising the S&P CNX Nifty index in the same proportion as in the index with the objective of achieving returns equivalent to the Total Returns Index of S&P CNX Nifty index by minimizing the performance difference between the benchmark index and the scheme. The Total Returns Index is an index that reflects the returns on the index from index gain/loss plus dividend payments by the constituent stocks. 1 year 3 years 5 years Since Inception 11.04% 6.01% 10.19% 18.98% 11.14% 7.21% 11.38% 20.27% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 32.68% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 23-Mar Mar Mr. Raviprakash Sharma 11 years, 5 months 2 months : S & P CNX NIFTY Index 1.00% for exit within 7 business days from the date of investment RELIANCE INDUSTRIES LIMITED 9.94% INFOSYS TECHNOLOGIES LIMITED 8.74% ICICI BANK LTD 7.19% ITC LIMITED 5.40% HDFC LIMITED 5.09% LARSEN & TOUBRO LIMITED 4.94% HDFC BANK LIMITED 4.67% STATE BANK OF INDIA 3.99% TATA CONSULTANCY SERVICES LIMITED 3.36% TATA MOTORS LIMITED 2.44% Total 55.76% 1.78% 98.22% Large Cap Mid Cap Small Cap Other Current Assets s AUTOMOBILE CEMENT & CEMENT PRODUCTS CHEMICALS SECTORAL BREAKDOWN Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters CONSTRUCTION CONSUMER GOODS ENERGY ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES Rs HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT Rs METALS MISCELLANEOUS PAPER 7.87 PHARMA 3.40 PRECIOUS METALS SERVICES SOVEREIGN TELECOM 2.81 TEXTILES

13 An Open-ended Equity Scheme Date of Inception : 28/02/1993 An Open-ended Equity Sheme To provide investors long term capital appreciation along with the liquidity of an open-ended scheme. The scheme will invest in a diversified portfolio of equities of high growth companies. Mr. Jayesh Shroff 9 yrs. 9 months 1 year 3 years 5 years Since Inception 4.52% 8.05% 11.14% 14.59% 8.55% 7.04% 11.32% 12.44% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 30.53% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 1-Oct Oct Aug May yrs. 8 months : BSE 100 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil STATE BANK OF INDIA 5.80% INFOSYS TECHNOLOGIES LIMITED 5.64% BANK OF INDIA 5.27% NESTLE (I) LIMITED 5.18% MAHINDRA & MAHINDRA LIMITED 4.90% ICICI BANK LTD 4.83% LUPIN LIMITED 4.35% BLUE DART EXPRESS LIMITED 3.54% FEDERAL BANK LTD 3.51% THERMAX LTD 3.37% Total 46.39% 4% 6% 28% 62% Large Cap Mid Cap Small Cap Other Current Assets s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs. 500 SECTORAL BREAKDOWN AUTOMOBILE 7.66 CEMENT & CEMENT PRODUCTS 1.50 CHEMICALS 0.01 CONSTRUCTION 3.59 CONSUMER GOODS ENERGY 7.41 ENGINEERING FERTILISERS & PESTICIDES 2.10 FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING 9.74 IT MEDIA & ENTERTAINMENT METALS 0.69 MISCELLANEOUS PAPER PHARMA 8.70 PRECIOUS METALS SERVICES 3.54 SOVEREIGN TELECOM TEXTILES

14 An Open-ended Scheme Date of Inception : 17/02/2006 An Open-ended Scheme To provide investors with opportunities for long-term growth in capital through an active management of investments in a diversified basket of equity stocks of companies whose market capitalization is at least equal to or more than the least market capitalized stock of BSE 100 Index. Please note that past performance may or may not be sustained in future. Date of 1st NAV - 31/12/1995 QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 33.15% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 04- Nov Nov year 3 years 5 years Since Inception 3.26% 5.70% 6.23% 7.60% 8.55% 7.04% 11.32% 6.56% Ms. Sohini Andani 15 yrs, 10 months 6 months : BSE 100 Index Nil s ICICI BANK LTD 6.22% RELIANCE INDUSTRIES LIMITED 6.12% GRASIM INDUSTRIES LIMITED 4.38% LARSEN & TOUBRO LIMITED 4.35% HDFC BANK LIMITED 4.09% YES BANK LIMITED 3.99% OIL & NATURAL GAS CORPN LTD 3.75% INFOSYS TECHNOLOGIES LIMITED 3.74% ITC LIMITED 3.42% TATA MOTORS LIMITED 3.25% Total 43.31% 6.79% 13.49% 79.72% Large Cap Mid Cap Small Cap Other Current Assets Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs SECTORAL BREAKDOWN AUTOMOBILE 5.19 CEMENT & CEMENT PRODUCTS 1.36 CHEMICALS 0.87 CONSTRUCTION 7.19 CONSUMER GOODS 7.79 ENERGY ENGINEERING 1.53 FERTILISERS & PESTICIDES 2.98 FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING 6.75 IT 8.07 MEDIA & ENTERTAINMENT 2.73 METALS 3.89 MISCELLANEOUS PAPER PHARMA 3.26 PRECIOUS METALS SERVICES SOVEREIGN TELECOM 2.36 TEXTILES

15 An open-ended growth scheme Date of Inception : 17/01/2007 An Open-ended Scheme To provide investors with opportunities for long term growth in capital through an active management of investments in a diversified basket of equity stocks focusing on all four regions of India and in debt and money market instruments. 1 year 3 years 5 years Since Inception 1.50% 3.04% 1.92% 8.15% 7.17% 8.42% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 33.88% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data FUND MANAGER/S Ms. Sohini Andani 15 years, 10 months 9 months : BSE 200 Index For exit within 1 year from the date of allotment 1 % For exit after 1 year from the date of allotment Nil RELIANCE INDUSTRIES LIMITED 5.14% INFOSYS TECHNOLOGIES LIMITED 4.51% BOSCH LIMITED 4.37% BHARAT HEAVY ELECTRICALS LIMITED 4.03% MAHINDRA & MAHINDRA LIMITED 3.87% LARSEN & TOUBRO LIMITED 3.82% ICICI BANK LTD 3.81% OIL & NATURAL GAS CORPN LTD 3.79% ITC LIMITED 3.15% CROMPTON GREAVES LIMITED 3.02% Total 39.51% 1.04% 6.44% 26.24% Large Cap Small Cap 66.28% Mid Cap Other Current Assets AUTOMOBILE SECTORAL BREAKDOWN s CEMENT & CEMENT PRODUCTS CHEMICALS CONSTRUCTION CONSUMER GOODS ENERGY ENGINEERING 1.73 Rs FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES Rs INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT METALS 6.43 MISCELLANEOUS PAPER 0.47 PHARMA 3.15 PRECIOUS METALS SERVICES 0.10 SOVEREIGN TELECOM 0.29 TEXTILES

16 An Open-ended Equity Scheme Date of Inception : 14/07/1999 An Open-ended Equity To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Ms. Sohini Andani 15 yrs, 10 months 1 year 3 years 5 years Since Inception -0.22% 6.81% 11.50% 25.25% 8.55% 7.04% 11.32% 14.66% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 33.25% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 13- Aug Jul May May months : BSE 100 Index For exit within 1 year from the date of allotment 1 %; For exit after 1 year from the date of allotment Nil RELIANCE INDUSTRIES LIMITED 6.56% ICICI BANK LTD 6.10% NTPC LIMITED 3.74% OIL & NATURAL GAS CORPN LTD 3.63% BHARTI AIRTEL LTD 3.19% ITC LIMITED 3.11% HINDUSTAN UNILEVER LIMITED 3.05% INDIAN HOTELS COMPANY LIMITED 2.82% HINDUSTAN ZINC LIMITED 2.72% BHARAT HEAVY ELECTRICALS LIMITED 2.65% Total 37.57% 4.14% 5.29% 23.28% 67.29% Large Cap Mid Cap Small Cap Other Current Assets s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs. 500 SECTORAL BREAKDOWN AUTOMOBILE 2.30 CEMENT & CEMENT PRODUCTS 4.20 CHEMICALS 0.28 CONSTRUCTION 8.01 CONSUMER GOODS 8.61 ENERGY ENGINEERING 0.16 FERTILISERS & PESTICIDES 2.49 FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING 5.72 IT 2.76 MEDIA & ENTERTAINMENT 3.63 METALS 4.47 MISCELLANEOUS PAPER 0.99 PHARMA 2.38 PRECIOUS METALS SERVICES 4.13 SOVEREIGN TELECOM 4.21 TEXTILES

17 An Open-ended Equity Scheme Date of Inception : 11/10/2004 An Open-ended Equity The investment objective of the Emerging Business would be to participate in the growth potential presented by various companies that are considered emergent and have export orientation/outsourcing opportunities or are globally competitive. The fund may also evaluate emerging business with growth potential and domestic focus. Mr. R. Srinivasan 18 yrs, 6 months 1 yr, 10 months : BSE 500 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil 1 year 3 years 5 years Since Inception 13.65% 6.41% 7.49% 23.45% 7.48% 6.50% 10.48% 19.47% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 46.16% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 28-Mar Jul Mar Oct PAGE INDUSTRIES LIMITED 8.64% MANAPPURAM GENERAL FINANCE & LEASIN 7.28% HDFC BANK LIMITED 7.09% AGRO TECH FOODS LTD 5.68% SIEMENS LIMITED 5.09% MOTHERSON SUMI SYSTEMS LTD 4.52% GILLETTE INDIA LIMITED 4.51% REDINGTON (INDIA) LTD 3.82% SUN TV NETWORK LTD 3.81% HAWKINS COOKERS LTD 3.30% Total 53.74% 39.71% Large Cap Small Cap 8.05% 16.00% 36.24% Mid Cap Other Current Assets s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs. 500 SECTORAL BREAKDOWN AUTOMOBILE 9.58 CEMENT & CEMENT PRODUCTS 5.10 CHEMICALS CONSTRUCTION 2.74 CONSUMER GOODS ENERGY ENGINEERING FERTILISERS & PESTICIDES 1.98 FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT 3.81 METALS MISCELLANEOUS PAPER PHARMA 1.21 PRECIOUS METALS SERVICES 5.23 SOVEREIGN TELECOM TEXTILES

18 29.24 An Open-ended Equity Scheme Date of Inception : 14/07/1999 An Open-ended Equity To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Ms. Sohini Andani 15 yrs, 10 months 11 months : BSE FMCG Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil s 1 year 3 years 5 years Since Inception 29.78% 25.48% 13.21% 12.52% 27.02% 16.23% 10.21% 9.15% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 21.75% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data BENEFITS OF SYSTEMATIC INVESTMENT PLAN () If you had invested in a monthly of Rs. 1000/- for 5 yrs in Magnum Sector s Umbrella-FMCG, your investment of Rs. 60,000/- would be worth Rs against BSE FMCG () which would be worth Rs It is assumed that the date of 1st instalment of was 5th April, Value of is computed using accumulated units multiplied by NAV as on 31th March, 2011.The data assumes the investment of Rs. 1000/- on 5th day of every month or the subsequent working day. Load and taxes are not considered for computation of returns. Past performance may or may not be sustained in future. ITC LIMITED 28.06% GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITED 9.49% ZYDUS WELLNESS LTD. 7.64% ASIAN PAINTS LIMITED 6.71% PROCTER & GAMBLE HYGINE & HEALTHCARE LIMITED 6.68% AKZO NOBEL INDIA LIMITED 6.47% NAVNEET PUBLICATIONS (I) LIMITED 5.16% PIDILITE INDUSTRIES LIMITED 5.07% UNITED BREWERIES LIMITED 4.66% NESTLE (I) LIMITED 4.56% Total 84.50% SECTORAL BREAKDOWN LAST DIVIDENDS: Record Date (in Rs./Unit) 3-Mar % Large Cap Small Cap 35.35% 3.69% 47.57% Mid Cap Other Current Assets Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs. 500 AUTOMOBILE CEMENT & CEMENT PRODUCTS CHEMICALS 5.07 CONSTRUCTION CONSUMER GOODS ENERGY ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT METALS MISCELLANEOUS PAPER PHARMA PRECIOUS METALS SERVICES SOVEREIGN TELECOM TEXTILES

19 24.06 An Open-ended Equity Scheme Date of Inception : 14/07/1999 An Open-ended Equity To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. 1 year 3 years 5 years Since Inception 21.70% 9.57% 7.81% 13.80% 25.02% 22.67% 10.19% 14.28% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 36.55% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 4-Jul Ms. Sohini Andani 15 yrs, 10 months 11 months : BSE - IT Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil INFOSYS TECHNOLOGIES LIMITED 51.78% TATA CONSULTANCY SERVICES LIMITED 17.56% INFOTECH ENTERPRISES LIMITED 5.42% KPIT CUMMINS INFOSYSTEMS LTD. 4.36% HCL TECHNOLOGIES LIMITED 3.76% NIIT LIMITED 2.68% CMC LTD. 2.52% REDINGTON (INDIA) LTD 2.03% ORACLE FINANCIAL SERVICES SOFTWARE LIMITED 1.98% WIPRO LIMITED 1.91% Total 94.00% 8.88% 9.97% Large Cap Small Cap 4.17% 76.98% Mid Cap Other Current Assets AUTOMOBILE SECTORAL BREAKDOWN s CEMENT & CEMENT PRODUCTS CHEMICALS CONSTRUCTION CONSUMER GOODS ENERGY Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT METALS MISCELLANEOUS Rs. 500 PAPER PHARMA PRECIOUS METALS SERVICES 2.03 SOVEREIGN TELECOM TEXTILES

20 An Open-ended Equity Scheme Date of Inception : 14/07/1999 An Open-ended Equity To provide the investors maximum growth opportunity through equity investments in stocks of growth oriented sectors of the economy. There are five sub-funds dedicated to specific investment themes viz. Information Technology, Pharmaceuticals, FMCG, Contrarian (investment in stocks currently out of favour) and Emerging Businesses. Ms. Sohini Andani 15 yrs, 10 months 11 months : BSE HEALTH CARE Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil 1 year 3 years 5 years Since Inception 16.29% 15.10% 4.11% 15.87% 13.05% 16.11% 9.31% 13.70% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 34.92% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data DR.REDDYS LABORATORIES LIMITED 15.10% SUN PHARMACEUTICAL INDUSTRIES LIMITED 14.28% CADILA HEALTHCARE LIMITED 8.90% LUPIN LIMITED 8.76% TORRENT PHARMACEUTICALS LTD 8.38% CIPLA LIMITED 7.61% IPCA LABORATORIES LTD. 7.34% WYETH LIMITED 6.71% DIVIS LABORATORIES LIMITED 4.33% GLAXOSMITHKLINE PHARMACEUTICALS LIMITED 3.84% Total 85.25% 36.36% Large Cap Small Cap 0.07% 5.09% 58.48% Mid Cap Other Current Assets AUTOMOBILE SECTORAL BREAKDOWN s CEMENT & CEMENT PRODUCTS CHEMICALS CONSTRUCTION CONSUMER GOODS ENERGY Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT Rs MEDIA & ENTERTAINMENT METALS MISCELLANEOUS Rs. 500 PAPER PHARMA PRECIOUS METALS SERVICES SOVEREIGN TELECOM TEXTILES

21 An Open-ended Equity Scheme Investing In Stocks Of Commodity Based Companies Date of Inception : 24/08/2005 An Open-ended Scheme To generate opportunities for growth along with possibility of consistent returns by investing predominantly in a portfolio of stocks of companies engaged in the commodity business within the following sectors - Oil & Gas, Metals, Materials & Agriculture and in debt & money market instruments. Mr. Ajit Dange 1 year 3 years 5 years Since Inception -0.50% 5.31% 11.25% 16.87% 8.15% 7.17% 10.98% 17.11% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 33.42% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 15-Mar Jul Nov yrs, 6 months 2 months : BSE 200 Index For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil s COAL INDIA LIMITED 11.10% RELIANCE INDUSTRIES LIMITED 6.51% UNITED PHOSPHORUS LIMITED 4.94% HINDUSTAN ZINC LIMITED 4.78% GUJARAT MINERAL DEVLOPMENT CORPORATION 4.74% OIL & NATURAL GAS CORPN LTD 4.38% TATA POWER COMPANY LIMITED 4.12% GUJARAT NARMADA VALLEY FERTILIZERS CO LIMITED 3.74% SHREE RENUKA SUGARS LTD. 3.71% GRASIM INDUSTRIES LIMITED 3.62% Total 51.64% SECTORAL BREAKDOWN 10.73% 8.59% 53.10% 27.58% Large Cap Mid Cap Small Cap Other Current Assets Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs AUTOMOBILE CEMENT & CEMENT PRODUCTS 7.18 CHEMICALS 1.34 CONSTRUCTION 0.99 CONSUMER GOODS 3.81 ENERGY ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES 5.83 HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING IT MEDIA & ENTERTAINMENT METALS MISCELLANEOUS PAPER 1.34 PHARMA PRECIOUS METALS SERVICES SOVEREIGN TELECOM TEXTILES

22 An Open-ended Equity Scheme Date of Inception : 30/09/1994 An Open-ended Equity To provide investors maximum growth opportunity through well researched investments in Indian equities, PCDs and FCDs from selected industries with high growth potential and in Bonds. Mr. R. Srinivasan 18 yrs, 6 months 1 yr, 10 months : BSE 100 Index 1 year 3 years 5 years Since Inception 5.76% 5.68% 8.65% 13.71% 8.55% 7.04% 11.32% 10.18% Please note that past performance may or may not be sustained in future. QUANTITATIVE DATA : Standard Beta R-Squared Sharpe *Portfolio Total Expense Deviation Ratio Turnover Ratio Ratio 41.53% # Source: CRISIL Analyser Portfolio Turnover = lower of total sale or total purchase for the last 12 months upon Avg. AUM of trailing twelve months. Risk Free rate: 91-days Treasury Bill yield (7.25% as on 31st March, 11). Basis for Ratio Calculation: 3 year Monthly Data LAST DIVIDENDS: Record Date (in Rs./Unit) 12-Mar Mar Jun For exit within 1 year from the date of allotment - 1 %; For exit after 1 year from the date of allotment - Nil s Rs. 500/month - 12 months Rs. 1000/month - 6 months Rs. 1500/quarter - 4 quarters Rs Rs. 500 REDINGTON (INDIA) LTD 4.76% BOSCH LIMITED 4.55% MRF LTD 3.67% ASIAN PAINTS LIMITED 3.65% BLUE STAR LTD 3.45% WYETH LIMITED 3.37% PAGE INDUSTRIES LIMITED 3.29% SKF INDIA LIMITED 3.20% BAJAJ HOLDINGS & INVESTMENT LTD. 3.19% CADILA HEALTHCARE LIMITED 3.18% Total 36.31% SECTORAL BREAKDOWN 9.75% 22.47% 11.68% 9.66% 0.35% 20.57% 56.10% 69.42% Large Large Cap Cap Mid Mid Cap Cap Small Small Cap Cap Other Other Current Assets AUTOMOBILE CEMENT & CEMENT PRODUCTS 3.17 CHEMICALS CONSTRUCTION 2.27 CONSUMER GOODS ENERGY 0.79 ENGINEERING FERTILISERS & PESTICIDES FINANCIAL SERVICES HEALTHCARE SERVICES INDUSTRIAL MANUFACTURING 4.50 IT 1.30 MEDIA & ENTERTAINMENT 5.64 METALS 0.13 MISCELLANEOUS PAPER PHARMA PRECIOUS METALS SERVICES 7.84 SOVEREIGN TELECOM TEXTILES