BIRLA SUN LIFE MUTUAL FUND

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1 BIRLA SUN LIFE MUTUAL FUND Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya Birla Group's experience in the Indian market and Sun Life's global experience. Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading flagships of Mutual Funds business managing assets of a large investor base. Our solutions offer a range of investment options, including diversified and sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and offshore funds. Vision: To be a leader and role model in a broad based and integrated financial services business. Birla Sun Life Asset Management Company has one of the largest team of research analysts in the industry, dedicated to tracking down the best companies to invest in. BSLAMC strives to provide transparent, ethical and research-based investments and wealth management services. Birla Sun Life Asset Management Company follows a long-term, fundamental research based approach to investment. The approach is to identify companies, which have excellent growth prospects and strong fundamentals. The fundamentals include the quality of the company s management, sustainability of its business model and its competitive position, amongst other factors. The fund has more than 224 schemes with AUM of Rs Crs

2 HDFC MUTUAL FUND HDFC Asset Management Company Limited (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the Mutual Fund by SEBI on July 3, In terms of the Investment Management Agreement, the Trustee has appointed the HDFC Asset Management Company Limited to manage the Mutual Fund. Vision: To be a dominant player in the Indian mutual fund space, recognized for its high levels of ethical and professional conduct and commitment towards enhancing investors interests. The paid up capital of the AMC is Rs crore. HDFC was incorporated in 1977 as the first specialised Mortgage Company in India. HDFC provides financial assistance to individuals, corporate and developers for the purchase or construction of residential housing. It also provides property related services (e.g. property identification, sales services and valuation), training and consultancy. Of these activities, housing finance remains the dominant activity. HDFC Asset Management Company (AMC) is the first AMC in India to have been assigned the CRISIL Fund House Level 1 rating. This is its highest Fund Governance and Process Quality Rating which reflects the highest governance levels and fund management practices at HDFC AMC. It is the only fund house to have been assigned this rating for third year in succession. The fund has more than 182 schemes with AUM of Rs. 95, crs.

3 UTI MUTUAL FUND UTI Mutual Fund is managed by UTI Asset Management Company Private Limited which was established on Jan 14, It has been appointed by the UTI Trustee Company Private Limited for managing the schemes of UTI Mutual Fund and the schemes transferred from UTI Mutual Fund. Vision: To be the most Preferred Mutual Fund. UTIAMC has a well-qualified, professional fund management team, which has been fully empowered to manage funds with greater efficiency and accountability in the sole interest of the unit holders. The fund managers are ably supported by a strong inhouse securities research department. To ensure investors interests, a risk management department is also in operation. UTI Mutual Fund s investment philosophy is to deliver consistent and stable returns in the medium to long term with a fairly lower volatility of fund returns compared to the broad market. It believes in having a balanced and well-diversified portfolio for all the funds and a rigorous in-house research based approach to all its investments. It is committed to adopt and maintain good fund management practices and a process based investment management. UTI Mutual Fund follows an investment approach of giving as equal an importance to asset allocation and sectoral allocation, as is given to security selection while managing any fund. It combines top-down and bottom-up approaches to enable the portfolios/funds to adapt to different market conditions so as to prevent missing an investment opportunity. The fund has more than 204 schemes with AUM of Rs. Rs. 79,310 Crs.

4 UTI commenced its operations from July 1964.The impetus for establishing a formal institution came from the desire to increase the propensity of the middle and lower groups to save and to invest. UTI came into existence during a period marked by great political and economic uncertainty in India. With war on the borders and economic turmoil that depressed the financial market, entrepreneurs were hesitant to enter capital market. The already existing companies found it difficult to raise fresh capital, as investors did not respond adequately to new issues. Earnest efforts were required to canalize savings of the community into productive uses in order to speed up the process of industrial growth. The then Finance Minister, T.T. Krishnamachari set up the idea of a unit trust that would be "open to any person or institution to purchase the units offered by the trust. However, this institution as we see it, is intended to cater to the needs of individual investors, and even among them as far as possible, to those whose means are small." His ideas took the form of the Unit Trust of India, an intermediary that would help fulfill the twin objectives of mobilizing retail savings and investing those savings in the capital market and passing on the benefits so accrued to the small investors. UTI commenced its operations from July 1964 "with a view to encouraging savings and investment and participation in the income, profits and gains accruing to the Corporation from the acquisition, holding, management and disposal of securities." Different provisions of the UTI Act laid down the structure of management, scope of business, powers and functions of the Trust as well as accounting, disclosures and regulatory requirements for the Trust. One thing is certain the fund industry is here to stay. Investment Philosophy of UTI Mutual Fund UTI Mutual Fund s investment philosophy is to deliver consistent and stable returns in the medium to long term with a fairly lower volatility of fund returns compared to the broad market. It believes in having a

5 balanced and well-diversified portfolio for all the funds and a rigorous in house research based approach to all its investments. It is committed to adopt and maintain good fund management practices and a process based investment management. UTI Mutual Fund follows an investment approach of giving as equal an importance to asset allocation and sectoral allocation, as is given to security selection while managing any fund. It combines top-down and bottom-up approaches to enable the portfolios/funds to adapt to different market conditions so as to prevent missing an investment opportunity. In terms of its funds performance, UTI Mutual Fund aims to consistently remain in the top quartile vis-à-vis the funds in the peer group. SPONSORS OF UTI MUTUAL FUNDS Three leading public sector banks Bank of Baroda (BOB), Punjab National Bank (PNB) and State Bank of India (SBI) and Life Insurance Corporation of India (LIC), the largest public financial investment institution and life insurer in India have entered into an agreement with the Government of India as Sponsors of the UTI Mutual Fund. The industry was one-entity show till 1986 when the UTI monopoly was broken when SBI and Canbank mutual fund entered the arena. This was followed by the entry of others like BOI, LIC, GIC, etc. sponsored by public sector banks. Starting with an asset base of Rs0.25bn in 1964 the industry has grown at a compounded average growth rate of 26.34% to its current size of Rs1130bn.The period can be termed as the period of public sector mutual funds (PMFs). From one player in 1985 the number increased to 8 in The party did not last long. When the private sector made its debut in , the stock market was booming. The opening up of the asset management business to private sector in 1993 saw international players like Jardine Fleming, JP Morgan, George Soros and Capital International along with the host of domestic players.

6 PRUDENTIAL ICICI The mutual fund of ICICI is a joint venture with Prudential Plc. of America, one of the largest life insurance companies in the US of A. Prudential ICICI Mutual Fund was setup on 13th of October, 1993 with two sponsor, Prudential Plc. and ICICI Ltd. The Trustee Company formed is Prudential ICICI Trust Ltd. and the AMC is Prudential ICICI Asset Management Company Limited incorporated on 22nd of June, Prudential ICICI is the largest private sector mutual fund in the country with assets of over Rs.43,281 crore under management as of February The sponsors of the fund are Prudential Plc, one of the largest insurance companies in Europe, and ICICI Bank, the second largest Indian bank. Prudential group has assets of over $300 billion under management globally. Apart from the main insurance operations, the group also owns fund management firm M&G and internet bank Egg. In all, 55 per cent of the asset management company, Prudential ICICI Asset Management Company, is held by Prudential Plc and the balance by ICICI Bank. There are reports that ICICI Bank is trying to acquire a 6 per cent stake in the AMC from Prudential and gain majority control.

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