Mutual Funds

Value Research
w w w. v a l u e r e s e a r c h o n l i n e . c o m
MUTUAL FUND YEARBOOK

2013
How to build a winning portfolio Top picks from mutual fund experts Decisive information on all Indian funds
Contents
Index of Funds - Categories Index of Funds - Alphabetical Foreword How to Build A Winning Portfolio How to Track Your Portfolio Value Research Fund Classification Reading a Fund Report Analysts Choice - Cover - Description Analysts Choice - Equity Core Analysts Choice - Equity Supporting Analysts Choice - Income & Cash Analysts Choice - ETFs Analysts Choice - International Scorecard Guide Scorecard: Equity Scorecard: Balanced Scorecard: Bond Scorecard: Short-Term Bond Scorecard: Closed-end Scorecard: FMP Scorecard: Index About Value Research 5 7 9 11 17 19 21 27 29 65 79 97 113 130 132 152 160 165 172 175 182 192
Foreword
There is a popular series of self-learning books on technology called the The Missing Manual series. The books have titles like iPhone:The Missing Manual or Powerpoint 2010: The Missing Manual. The idea is that nowadays, many gadgets and software should have a comprehensive yet easy-to-use owners manual but they dont. The Missing Manual series plugs the gap. I like to think of our yearbooks as Mutual Fund Investing: The Missing Manual. Back in 2008, we conceived them to solve a specific problem that investors have. The problem is simplethere are too many funds of too many types and investors dont know how to begin understanding this universe. They dont have a framework within which to map their investing needs to the bewildering variety of funds that exist. Theres no clear way to know which funds should fit into this framework and which should be ignored. This book provides that frameworkas well as all the information needed to use itand thats why its that missing manual to mutual fund investing. Why does this complexity exist? Well, part of it is inherent to mutual funds and part of it is deliberate. It is inherent because there are many types of funds needed by investor and every fund company tries to cover as many bases as possible. However, fund companies have also been inventing many new fund types specifically so that they dont fit into any existing classification. This makes them easier to sell. For two decades now, Value Research has been working to bring order to this chaos. Over these years, we have evolved two different ways of classifying mutual funds. One is based on what investments funds invest in, and the other on what need they fulfil for the investor. An example of a category by the former system is Equity: Large & Mid-cap while one from latter is Equity Core. The former system is intended for experienced or professional investors and the latter for someone who just wants a solution to his needs without getting too deeply into the nitty-gritty. This volume has three types of content. One, articles that will help you with the basics of constructing a portfolio. Two, detailed on a set of
Mutual Fund Yearbook 2013
Foreword
funds hand-picked by our analysts to serve any kind of investing need. These investing needs themselves are the framework that will help you in choosing. And three, a comprehensive scorecard with detailed data on all mutual fund. This makes it a complete how-to manual for getting started with mutual fund investing. A special note about two of the categories of funds that are part of this book, Exchange-Traded Funds (ETFs) and International Funds. These dont actually fit neatly into the framework but weve put them as separate sections for a reason. Exchange-traded funds are the exact replica of an index. Theres no fund manager to actively decide which stocks to invest in. This means that they are studied and evaluated in a completely different manner from other funds. International funds are also a different kettle of fish, even though they should ideally not be. Ideally, investors should not have to decide whether or how much they should invest in international funds. Diversified equity funds should take some exposure to international equities, depending on the view that they take at any point of time. Unfortunately, this is not happening on any significant scale. At the same time, many global markets are consistently doing better than Indian ones. Therefore, for the time being, investors will have to evaluate and choose international funds themselves. However, you dont have to do this if you dont want to. The basic message of this book combines the spirit of do-it-yourself with that of simplicity. You should learn to take investment decisions yourself rather than rely on ready-made recipes. And our job is to create a framework that makes it easy to do so without spending too much time and effort on it.
(Dhirendra Kumar) Chief Executive Value Research
10
Reading a Fund Report - Equity

Value Research Rating, Risk and Return Top Holdings
A detailed report about the investment portfolio of a fund. Equity Holding: The name of each company, its sector, the maximum allocation in the last 3-years and the minimum allocation in the company has seen in the last 3years. It also has the current allocation of the portfolio as Assets. Fund Rating : The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that an equity fund has generated over the previous five years, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type. Return Grade : A measure of funds risk adjusted return compared to its peers Risk Grade : A measure of funds risk of loss compared to its peers Launch : The launch date of the fund Benchmark : The index against which the fund compares its performance Category : The Value Research category under which the fund is classified. ` Net Assets (` Cr) : The Net Assets of the fund Plans & NAV : The NAV under its Growth and Dividend plans
Fund Performance vs Index

The graph has been prepared to show the funds performance over the benchmark over the years. Above the graph, the funds investment style is portrayed in each year has been shown.
Top Sector Weights

The percentage of the equity investments of the fund that fall under each sector of the economy.
AIG India Equity Regular

Rating Return Grade Risk Grade Launch Benchmark Category Net Assets (`Cr) Plans & NAV : : : : : : : : Average Low May 2007 BSE 100 Equity: Multi Cap 142.96
Growth (10.95), Dividend (10.95)
NA 11000 NA NA NA NA
History
Data on the funds performance since its launch. NAV (Year End) : The last NAV of each year. Total Return : The percentage returns that an investor would have got over the year. +/- : In the given year, a comparison of the funds returns with that of two stock market indices Rank : The funds performance rank within its category for the year and the total number of funds out of which it has been ranked. 52-Week NAV Range : The highest and the lowest NAV that the fund recorded during that year Expense Ratio : The percentage of the average daily assets that the fund charged as its management expenses during the year. Net Assets : The total amount of investors assets that the fund was managing at the end of the year.
10000
Top Holdings (%)

Company Sector 3Y-High 3Y-Low Assets
Fund BSE 100 (Index is continuously rebased to 10,000)
9000
8000
Portfolio Characteristics & Fund Style

Portfolio Characteristics: Total number of stocks and bonds that are part of the portfolio. Aggregate measures regarding the funds investments. The market capitalisation, P/B ratio and P/E ratio are weighted averages of the latest numbers of the companies that the fund is invested in. Three Year Earnings Growth is the weighted average of the compounded average growth in the net profits of each company. Fund Style : A nine-cell matrix of the overall style of investment that the fund follows, based on its latest portfolio. On the vertical axis, the three steps denote the weighted average market capitalisation of the funds investments. The horizontal axis denotes, on a weighted average basis, whether the companies that the fund has invested in are value stocks, growth stocks, or a blend of the two.
Infosys Hero Motocorp HDFC Bank Jindal Steel & Power Petronet LNG Hindustan Zinc Indraprastha Gas Coromandel International Bosch Torrent Power Larsen & Toubro Sun Pharma Inds. Redington India Coal India GMDC Eicher Motors Castrol India -
Technology Automobile Financial Metals Energy Metals Services Chemicals Automobile Energy Diversied Healthcare Technology Energy Energy Automobile Energy -
6.71 9.99 5.72 8.51 4.95 4.81 4.77 4.63 4.56 5.24 4.81 3.86 3.21 2.63 2.48 2.41 3.58 -
2.00 2.11 1.43 0.87 0.43 0.53 0.26 1.79 2.13 1.89 1.96 2.49 0.52 1.13 0.20 1.53 0.12 -
6.71 5.98 5.72 5.10 4.95 4.81 4.72 4.53 4.03 3.93 3.58 3.27 3.21 2.63 2.39 2.35 2.03 -
History
NAV (`) Total Return (%) +/-S&P CNX Nifty (%) +/- BSE 100 (%) Rank (Fund/Category) 52 Week NAV High (`) 52 Week NAV Low (`) Expense Ratio (%) (Sep.) Net Assets (`Cr)
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
13.65
5.91
11.56 95.78 20.02 10.74 9/61 11.56 5.19
12.91 11.66 -6.29 -4.00 59/65 13.27 10.96
10.95 -15.18 9.44 10.55 1/44 12.94 10.75
- -56.74 - -4.95 - -1.46 - 50/59 13.65 14.13 9.52 5.32
2.33 2.40 2.28 2.17 2.05 - 1196.8 407.49 411.88 238.52 142.96
Trailing Returns (%)

Fund Return Rank SIP Category Fund/Cat BSE 100 Return
Quarterly Returns (%)

Q1 Q2 Q3 Q4 Year
Top Sector Weights (%)

Fund BSE 100 3Y-High 3Y-Low
3-Month 6-Month 1-Year 2-Year 3-Year 5-Year 7-Year 10-Year
-8.14 -9.24 -12.27 -18.45 -15.18 -24.93 -2.68 -5.27 22.85 19.22 -
13/44 -7.96 -49.81 3/43 -19.13 -35.12 1/43 -25.73 -18.28 13/39 -7.32 -10.08 9/37 16.70 3.14 -
Return less than 1-year are absolute and over 1 year are annualised
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
-6.86 4.21 1.54 -27.81 -
3.80 1.73 47.99 -18.08 -
-4.49 4.58 22.58 -4.32 14.65 -
-8.14 0.70 6.29 -23.55 18.05 -
-15.18 11.66 95.78 -56.74 -
Energy Automobile Technology Metals Financial Services Chemicals Diversied
15.93 12.36 9.92 9.90 5.72 4.72 4.53 3.58
17.70 7.06 13.51 5.44 24.08 1.49 1.27 4.37
17.85 23.18 11.77 15.70 20.57 19.91 6.51 7.17

FUND STYLE Investment Style
Growth Blend Value
0.00 6.52 1.61 2.16 1.70 3.09 0.00 0.00
Best & Worst Returns (%)

Period Fund BSE 100
Risk Measures
Fund BSE 100 Cat Average
Best 3-Month Worst 3-Month Best 1-Year Worst 1-Year
09/03/09 - 10/06/09 75.30 02/09/08 - 02/12/08 -40.21 09/03/09 - 11/03/10 127.36 14/01/08 - 13/01/09 -58.87
93.51 -43.47 118.24 -58.94
Standard Deviation Sharpe Ratio Beta R-Squared
23.19 0.80 0.83 0.89
27.84 0.51
26.65 0.61 0.95 0.90
Portfolio Characteristics
Total Stocks 18 25868 Avg Mkt Cap (`Cr) Portfolio P/B Ratio 4.93 Portfolio P/E Ratio 19.47 3Y Earnings Growth (%) 15.47
Fund Review
OBJECTIVE The investment objective of this scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives. STRATEGY This fund invests across market capitalisation without any bias to any sector or a particular style of investing, however, the exposure to small-cap stocks never exceeds 15 per cent. Depending on the fund managers views and the market conditions, this fund invests across stocks having sustainable business models, and potential for capital appreciation representing a broad range of sectors to ensure adequate diversification. The fund manager takes a contrarian view, which sometimes does not pay off as expected. For instance, in recent times when most funds in this category had a high allocation to the financial sector; this fund had less than 7 per cent allocation. Likewise, popular stocks like Reliance Industries, ICICI Bank and SBI do not feature in this portfolio. PERFORMANCE Its not among the most consistent performers in the category but by showing periodic bursts of outperformance and limiting its fall; it does reward long term investors. In 2011 it was the best performing fund in the category despite the funds high exposure to automobile sector in the first half of 2011 and lower exposure to healthcare and FMCG sectors. PORTFOLIO MANAGER Huzaifa Husain: B.Tech and PGDM. He has over ten years experience in the asset management business and has been with AIG Investments since 2009. In the past he has worked with Tata AIG Life Insurance for over 2 years, with Principal PnB AMC and SBI Funds Management for over three years.
Large Medium Small
Capitalisation
Portfolio Concentration (%)

Top 10 Holdings Top 5 Holdings Top 3 Sectors 50.48 28.45 38.21
Asset Allocation (%)

Equity Debt Cash & Cash Eq. 93.13 0.00 6.87
Quarterly Returns
The funds returns over each quarter of the last five years, along with the entire years returns
Investment Information
AMC : AIG Global Asset Mgmt Co Pvt Ltd Website : www.aiginvestments.co.in Registrar : Computer Age Mgmt Services Ltd. Min Inv (`) : 5,000 Min SIP Inv (`) : 1,000 Exchange Availability : BSE, NSE Exit Load : 1% for redemption within 365 days
Portfolio Concentration & Asset Allocation

Portfolio Concentration :The percentage of the portfolio formed by the top 10, 5 and 3 holdings of the fund. Asset Allocation : The distribution of its investment between equity, debt and cash
All data as on 31/12/2011
Trailing Returns
Performance data for various standard periods, all ending on December 31st. All returns are in percentage. Periods greater than a year are annualised, shorter periods are not. Fund : The funds own returns. Category : The average returns for all funds in the category. Rank : The funds rank, out of the total number of funds in the category Index : The returns of the funds benchmark index. SIP Return (Annualised) : The return that an investor would have made by investing in the funds monthly systematic investment plan over the period.
Strategy & Review

Investment Strategy : The structural guideline that the fund manager will use to invest in the securities market. Analysis : A subjective view on the fund by a Value Research analyst. The analysis projects the funds prospects and takes a view on the origins and the attributes of the funds past performance.
Best & Worst Returns & Risk Measures

Best & Worst Returns : The best and worst one, three and twelve months periods in the funds history, along with its benchmark index during the period. All possible periods (rather than just calendar months, quarters and years) are evaluated for this. Risk Measures : A range of statistical measures that can be used to evaluate the performance, risk, and return of a mutual fund
Basic investment information for the fund. AMC : The name of the AMC Website : The name of the AMC Registrar : The registrar to be reached for information Min Inv : Minimum amount to be invested in the fund ` Min SIP Inv (`) : Minimum amount required for SIP Exchange Availability : Fund trades on exchanges Exit Load : Charges on exit from the fund
21
Reading a Fund Report - Hybrid

Top Holdings
A detailed report about the investment portfolio of a fund. Equity Holding: The name of each company, its sector, the maximum allocation in the last 3-years and the minimum allocation in the company has seen in the last 3-years. It also has the current allocation of the portfolio as Assets. Debt Holding- This has the name of the company, the sector it represents, debt instrument it holds, and the current allocation.
Value Research Rating, Risk and Return

Fund Rating : The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that an equity fund has generated over the previous five years, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type. Return Grade : A measure of funds risk adjusted return compared to its peers Risk Grade: A measure of funds risk of loss compared to its peers Launch: The launch date of the fund Benchmark: The index against which the fund compares its perfomance Category: The Value Research category under which the fund is classified. ` Net Assets (` Cr) : The Net Assets of the fund Plans & NAV: The NAV under its Growth and Dividend plans
Fund Performance vs Index

The graph has been prepared to show the funds performance with reapect to the benchmark over the years. Above the graph, the funds investment style is portrayed in each year.
Birla Sun Life 95
History
25000 20000
Top Sector Weights

Rating Return Grade Risk Grade Launch Benchmark Category Total Assets (`Cr) Plans & NAV
: : : : : : : :
Above Average Average February 1995 Crisil Balanced Fund Index Hybrid: Equity-oriented 501.65 Growth (277.77), Dividend (94.95)
Top Holdings (%)

Equity Holdings
Company Sector 3Y-High 3Y-Low Assets
Fund VR Balanced (Index is continuously rebased to 10,000)
15000 10000 5000
History
Technology Financial Technology Financial Energy Financial FMCG Financial Comm. Financial Financial Diversied Healthcare FMCG Energy
Sector
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011

Portfolio Characterstic : Total number of stocks and bonds that are part of the portfolio. Aggregate measures regarding the funds investments. The market capitalisation, P/B ratio and P/E ratio are weighted averages of the latest numbers of the companies that the fund is invested in. Three Year Earnings Growth is the weighted average of the compounded average growth in the net profits of each company. Fund Style : A nine-cell matrix of the overall style of investment that the fund follows, based on its latest portfolio. On the vertical axis, the three steps denote the weighted average market capitalisation of the funds investments. The horizontal axis denotes, on a weighted average basis, whether the companies that the fund has invested in are value stocks, growth stocks, or a blend of the two.
Infosys HDFC Bank TCS ICICI Bank Reliance Industries Axis Bank ITC HDFC Bharti Airtel State Bank of India Indusind Bank Larsen & Toubro Dr. Reddy's Lab Hindustan Unilever ONGC Debt Holdings
Company
4.61 3.95 4.38 3.85 3.60 2.98 5.84 2.36 3.81 2.36 2.36 2.87 2.29 1.66 2.29
2.24 1.46 2.25 1.09 1.32 0.72 1.04 0.76 0.66 1.43 1.99 0.65 0.33 0.75 1.23
3.95 3.91 3.83 3.14 2.82 2.63 2.37 2.36 2.16 2.14 2.07 2.03 1.67 1.66 1.57
Assets
NAV (`) Total Return (%) +/- VR Balanced (%) +/- S&P CNX Nifty (%) Rank (Fund/Category) 52 Week NAV High (`) 52 Week NAV Low (`) Expense Ratio (%) (Sep.) Net Assets (`Cr)
48.09 10.96 4.23 7.71 17/26 49.58 42.95
82.86 103.45 135.46 174.02 265.24 158.33 269.47 322.45 277.77 72.30 24.85 30.94 28.47 52.42 -40.31 70.20 19.66 -13.86 4.26 32.82 17.87 6.21 -0.38 9.56 -0.55 20.90 5.12 0.40 14.17 -5.40 -11.36 -2.35 11.48 -5.56 1.71 10.76 10/29 4/28 16/27 13/28 7/24 7/26 11/27 6/28 10/28 82.94 103.45 136.22 178.29 265.24 275.75 269.47 332.34 323.23 45.70 73.32 96.85 129.61 168.12 138.40 139.77 257.96 275.31
2.40 2.33 2.29 2.42 2.41 2.33 2.38 2.42 2.45 2.46 282.75 179.14 136.18 118.28 129.57 204.64 114.56 241.45 377.38 501.65

Fund Return Rank Category Fund/Cat VR Bal SIP Return

Q1 Q2 Q3 Q4 Year
Instruments
IDBI Bank L I C Housing Fin. Tata Sons HDFC IDBI Bank
Financial Financial Financial Financial Financial
Debenture Debenture Debenture Debenture Bonds
12.14 4.66 2.99 2.85 2.72
-5.74 -6.61 -11.79 -13.00 -13.86 -16.16 1.53 -1.57 20.61 15.41 9.80 4.64 15.15 11.57 20.41 17.69
10/29 -5.39 -37.92 12/29 -13.27 -25.41 10/28 -18.12 -16.56 8/28 -3.16 -7.22 5/27 11.87 4.61 4/26 3.80 7.99 4/23 9.90 11.11 3/19 11.92 17.30
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
-2.71 2.83 -1.48 -23.78 -0.84 14.07 -2.95 -0.98 -4.22 9.00
0.38 4.51 42.01 -11.15 15.90 -7.90 9.17 -7.26 18.95 -0.70
-6.42 10.75 16.68 -3.89 12.98 14.29 18.86 13.73 22.43 -4.99
-5.74 0.54 4.26 -8.29 17.39 6.99 3.98 19.54 23.52 7.90
-13.86 19.66 70.20 -40.31 52.42 28.47 30.94 24.85 72.30 10.96

Fund 3Y-Avg 3Y-High 3Y-Low
Best & Worst Returns

Period Fund VR Bal
Risk Measures
Fund VR Bal Cat Average
Financial Technology Energy Healthcare FMCG Automobile Diversied Engineering
15.66 9.59 8.16 6.61 5.09 4.61 3.50 3.12
12.11 6.15 6.79 5.23 5.31 2.46 8.57 5.11
18.40 9.59 10.07 7.51 10.98 5.14 16.95 6.99

Growth Blend Value
4.18 3.95 2.87 2.22 1.58 0.52 3.50 2.76
22/11/99 - 22/02/00 78.28 25/02/00 - 26/05/00 -34.69 22/02/99 - 22/02/00 218.82 12/04/00 - 12/04/01 -45.00
-16.51 -20.04
Standard Deviation Sharpe Ratio Beta R-Squared
19.76 0.81 1.00 0.90
18.74 0.44
19.59 0.60 0.98 0.89
Strategy & Review

OBJECTIVE The objective of this scheme is to generate long-term growth of capital and current income, through a portfolio with a target allocation of 60 per cent equity and 40 per cent debt and money market securities. The secondary objective is income generation and distribution of dividend. STRATEGY The fund managers follow a flexible approach to investing across market capitalisation and have a dynamic asset allocation which is based on their view on each asset class such as bond yield versus dividend yield, inflation and interest rates. The exposure to mid-cap stocks increases every time the market picks up to gain from the upswing, just the way the exposure to large-cap stocks increase during the bear phase. For instance, the allocation to largecaps went up from 40 per cent in September 2010 to 63 per cent by April 2011. On the debt side it manages an active portfolio unlike its peers and has placed bets on bonds and debentures without hesitating to take high maturity calls. PERFORMANCE This fund has regularly outperformed the category average and in its 15-year history it has underperformed the category average only on three occasions. A well diversified portfolio, with tactical exposure to mid-caps has helped with consistent returns in the long run. Over the past 15 years, the fund has returned an annualised 25.68 per cent as on December 31, 2011. PORTFOLIO MANAGERS Satyabrata Mohanty: B.Com, C.A. and CFA. He has over 12 years experience and has handled responsibilities across fund management, trading and credit research. In the past he has worked with Aditya Birla Management. Nishit Dholakia: B.Com and C.A. he has over 11 years experience in the mutual fund industry with the last 8 with BSLAMC. He has worked with IDFC Investment Advisors and Reliance Capital in the past.
Data on the funds performance since its launch. NAV (Year End): The last NAV of each year. Total Return: The percentage returns that an investor would have got over the year. +/-: In the given year, a comparison of the funds returns with that of two stock market indices Rank: The funds performance rank within its category for the year and the total number of funds out of which it has been ranked. 52-Week NAV Range: The highest and the lowest NAV that the fund recorded during that year Expense Ratio: The percentage of the average daily assets that the fund charged as its management expenses during the year. Net Assets : The total amount of investors assets that the fund was managing at the end of the year.
Total Stocks 61 15 Total Bonds 44578 Avg Mkt Cap (`Cr) Portfolio P/B Ratio 4.72 19.67 Portfolio P/E Ratio 3Y Earnings Growth (%) 19.13
Large Medium Small
Capitalisation
Quarterly Returns
The funds returns over each quarter of the last five years, along with the entire years returns.


AMC : Birla Sun Life Asset Mgmt Co. Ltd Website : www.birlasunlife.com Registrar : Computer Age Mgmt Services Ltd. Min Inv (`) : 5,000 Min SIP Inv (`) : 1,000 Exchange Availability : BSE, NSE Exit Load : 1% for redemption within 365 days All data as on 31/12/2011

Portfolio Concentration: The percentage of the portfolio formed by the top 10,5 and 3 holdings of the fund. Asset Allocation: The distribution of its investment between equity, debt and cash
Trailing Returns
Performance data for various standard periods, all ending on December 31st. All returns are in percentage. Periods greater than a year are annualised, shorter periods are not. Fund: The funds own returns. Category: The average returns for all funds in the category. Rank: The funds rank, out of the total number of funds in the category Index: The returns of the funds benchmark index/internal index. SIP Return (Annualised): The return that an investor would have made by investing in the funds monthly systematic investment plan over the period.
Strategy & Review

Investment Strategy: The structural guideline that the fund manager will use to invest in the securities market. Analysis: A subjective view on the fund by a Value Research analyst. The analysis projects the funds prospects and takes a view on the origins and the attributes of the funds past performance.

Best & Worst Returns: The best and worst one, three and twelve months periods in the funds history, along with its benchmark index during the period. All possible periods (rather than just calendar months, quarters and years) are evaluated for this. Risk Measures: A range of statistical measures that can be used to evaluate the performance, risk, and return of a mutual fund
Basic investment information for the fund. AMC: The name of the AMC Website: Website of the AMC Registrar: The registrar to be reached for information Min Inv: Minimum amount to be invested in the fund ` Min SIP Inv (`): Minimum amount required for SIP Exchange Availability: Fund trades on exchanges Exit Load: Charges on exit from the fund
22
Reading a Fund Report - Debt

Fund Rating : The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that the fund has generated over the previous 18 months, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type. Return Grade : A measure of funds risk adjusted return compared to its peers Risk Grade : A measure of funds risk of loss compared to its peers Launch : The launch date of the fund Benchmark : The index against which the fund compares its performance Category : The Value Research category under which the fund is classified. ` Net Assets (` Cr) : The Net Assets of the fund Plans & NAV : The NAV under its Growth and Dividend plans
Fund Performance
The graph has been prepared to show the funds performance over the years. Above the graph, the funds investment style is portrayed in each year.
Top Holdings
A detailed report about the investment portfolio of a fund. This has the name of the company, the sector it represents, debt instrument it holds, and the current allocation.
Birla Sun Life Dynamic Bond Retail
Credit Rating & Instrument Break-up

Credit Rating Break-up : The proportion of the portfolio that is invested in instruments of different credit quality. Instrument Break-up : The proportion of the funds holdings that are held in different types if fixed-income instruments.
Rating Return Grade Risk Grade Launch Benchmark Category Net Assets (`Cr) Plans & NAV
: : Above Average : Below Average : September 2004 : Crisil Composite Bond Index : Debt: Income : 3593.43 : Growth (17.55), Dividend Quarterly (11.30), Dividend Monthly (10.51), Discipline Advantage (12.14)
NA 18000 16000 14000 12000 10000
History
NA
Fund (Rebased to 10,000)
History Top Holdings (%)

Company Sector Instruments Assets
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011

Portfolio Characterstic: Aggregate measures regarding the funds investments. It carries total number of securities. The average maturity, the 52 week high and low in terms of maturity. And the average credit rating of the fund. Fund Style: A nine-cell matrix of the overall style of investment that the fund follows, based on its latest portfolio. On the vertical axis, the three steps denote the weighted average market capitalisation of the funds investments. The horizontal axis denotes, on a weighted average basis, whether the companies that the fund has invested in are value stocks, growth stocks, or a blend of the two.
L I C Housing Fin. HDFC Power Finance Corp. Reliance Utilities and Power Power Finance Corp. IDBI Bank Godrej Consumer Products NABARD Reliance Ports & Terminals Tata Capital Kotak Mahindra Prime Rural Electrication Fullerton India Credit Shriram Transport Finance Chola Invest. & Fin. ICICI Home Finance Co. Aditya Birla Nuvo Reliance Gas Transp. Infra. Tata Motors IRFC
Financial Financial Services Engineering Services Financial FMCG Financial Energy Financial Financial Energy Financial Financial Financial Financial Diversied Energy Automobile Financial
Debenture 13.34 Debenture 10.91 Debenture 7.78 Debenture 7.42 6.83 FRD Debenture 6.18 Debenture 5.66 Debenture 4.67 Debenture 4.26 Debenture 3.98 3.81 CP Debenture 2.96 2.46 CP Debenture 2.46 Debenture 2.45 Debenture 2.45 Debenture 1.69 Debenture 0.87 0.85 SO Debenture 0.75
NAV (`) Total Return (%) +/- NSE G-Sec Rank (Fund/Category) 52 Week NAV High (`) 52 Week NAV Low (`) Expense Ratio (%) (Sep.) Net Assets (`Cr)
10.10 1.58 55.72
10.65 5.39 1.92 13/61 10.65 10.11 0.75 25.00
11.29 6.01 5.25 19/57 11.29 10.65 0.75 5.52
12.32 9.16 3.87 10/52 12.32
14.16 14.96 -5.82 28/54 14.16
15.22 7.45 13.85 4/63 15.22
16.07 5.55 3.00 19/79 16.07
17.55 9.24 6.35 15/86 17.55
11.28 12.35 14.11 15.22 16.08 0.15 0.28 0.88 1.48 0.98 9.62 292.18 6221.6 5305.2 3593.4

Fund Return Rank Category Fund/Cat NSE G-Sec NSE T Bill

Q1 Q2 Q3 Q4 Year
1-Week 1-Month 3-Month 6-Month 1-Year 2-Year 3-Year 5-Year
0.05 1.13 2.45 4.87 9.24 7.38 7.41 9.23
-0.03 1.23 2.37 4.49 8.24 6.43 4.41 6.99
51/90 45/90 27/89 24/89 15/84 15/72 2/55 4/45
0.21 2.85 1.04 1.79 2.89 2.72 -0.42 4.66
0.14 0.80 2.11 3.46 7.33 5.89 5.96 6.69
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
1.90 1.89 1.29 2.92 1.44 1.05 1.33 -
2.22 1.50 2.71 2.35 1.99 1.37 1.60 -
2.36 1.12 1.72 2.60 2.41 1.96 1.22 -
2.45 0.94 1.54 6.38 3.03 1.50 1.13 0.98 -
9.24 5.55 7.45 14.96 9.16 6.01 5.39 -
Credit Rating Break-up (%)

GOI Securities AAA P1+ AA A and Below Unrated Treasury Bills Term Deposit Cash Equivalent Mutual Fund Debt 0.12 65.58 6.28 23.26 0 0 0 0 4.77 0
Instrument Break-up (%)

Debenture FRD Commercial Paper Cash & Cash Eq. Structured Obligation GOI Securities FUND STYLE Credit Quality

Period Fund NSE G-Sec
Risk Measures
Fund NSE G-Sec Cat Average
80.91 7.07 6.28 4.77 0.85 0.12 -
06/10/08 - 05/01/09 09/11/04 - 08/02/05 04/01/08 - 05/01/09 08/06/05 - 08/06/06
7.28 0.34 15.75 4.54
18.82 5.15 21.31 -0.74
Standard Deviation Sharpe Ratio
0.91 2.02
6.95 -0.42
1.25 1.73
Strategy & Review

OBJECTIVE This scheme aims to generate optimal returns with high liquidity through active management of the portfolio by investing in high quality debt and money market instruments. STRATEGY This scheme has a dynamic portfolio that tracks interest rate movements in the short term by reducing duration in a rising rate environment while increasing duration in a falling interest rate environment. The investment policy revolves around structuring the portfolio so as to capture the positive price movements and minimise the impact of adverse price movements. In order to maximise returns the fund manager may look at curve spreads both on the gilt as well as the bond markets to gain maximum value out of any security. PERFORMANCE This fund has had an impressive track record having outperformed the category average since inception. The fund has not witnessed a declining rate cycle since its launch and has delivered extremely consistent returns with conservatively built high quality fixed income portfolio. The portfolio has over 70 per cent AAA rated papers, reflecting quality investments. However, during the brief and abrupt change in the interest rate outlook in 2008, the fund showed sharp reflexes to take advantage to post handsome gains. In 2011, its average maturity has been in the range of 0.94 years to 4.3 years and its low expense ratio in comparison to the category average further adds to the performance. PORTFOLIO MANAGER Maneesh Dangi: MBA and FRM (Financial Risk Management). He has over 11 years of experience in rate trading and research. He has been with Birla Sunlife for the past 6 years. In the past he has worked with Pioneer Investcorp as a head of fixed-income investment consultancy and merchant banking division.
Data on the funds performance since its launch. NAV (Year End) : The last NAV of each year. Total Return : The percentage returns that an investor would have got over the year. +/- : In the given year, a comparison of the funds returns with that of index. Rank : The funds performance rank within its category for the year and the total number of funds out of which it has been ranked. 52-Week NAV Range : The highest and the lowest NAV that the fund recorded during that year Expense Ratio : The percentage of the average daily assets that the fund charged as its management expenses during the year. Net Assets : The total amount of investors assets that the fund was managing at the end of the year.
Total Securities Avg Maturity (Yrs.) Avg Maturity 52W High (Yrs.) Avg Maturity 52W Low (Yrs.) Avg Credit Rating 31 2.98 4.30 0.94 AA
Interest Rate Sensitivity
High Medium Low High Medium Low
Quarterly Returns
AMC : Birla Sun Life Asset Mgmt Company Ltd Website : www.birlasunlife.com Registrar : Computer Age Mgmt Services Ltd. Min Inv (Rs.) : 5,000 Min SIP Inv (Rs.) : Exchange Availability : Exit Load : 0.5% for redemption within 180 days; 0.25% for redemption between 181 - 269 days All data as on 31/12/2011
Trailing Returns Strategy & Review Investment Information

Basic investment information for the fund. AMC : The name of the AMC Website : Website of the AMC Registrar : The registrar to be reached for information Min Inv : Minimum amount to be invested in the fund ` Min SIP Inv (`) : Minimum amount required for SIP Exchange Availability : Fund trades on exchanges Exit Load : Charges on exit from the fund Investment Strategy: The structural guideline that the fund manager will use to invest in the securities market. Analysis: A subjective view on the fund by a Value Research analyst. The analysis projects the funds prospects and takes a view on the origins and the attributes of the funds past performance.

Best & Worst Returns : The best and worst, three months and one year periods in the funds history, along with its benchmark index during the period. All possible periods are evaluated for this. Risk Measures : A range of statistical measures that can be used to evaluate the performance, risk, and return of a mutual fund
Performance data for various standard periods, all ending on December 31st. All returns are in percentage. Periods greater than a year are annualised, shorter periods are not. Fund : The funds own returns. Category : The average returns for all funds in the category. Rank : The funds rank, out of the total number of funds in the category Index : The returns of the funds benchmark index.
23
Reading a Fund Report - MIP

Fund Rating : The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that the fund has generated over the previous 18 months, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type. Return Grade : A measure of funds risk adjusted return compared to its peers Risk Grade : A measure of funds risk of loss compared to its peers Launch : The launch date of the fund Benchmark : The index against which the fund compares its performance Category : The Value Research category under which the fund is classified. ` Net Assets (` Cr) : The Net Assets of the fund Plans & NAV : The NAV under its Growth and Dividend plans
Top Holdings
A detailed report about the investment portfolio of a fund. Debt Holding: This has the name of the company, the sector it represents, debt instrument it holds, and the current allocation. Equity Holding: The name of each company, its sector, the maximum allocation in the last 3-years and the minimum allocation in the company has seen in the last 3years. It also has the current allocation of the portfolio as Assets.
Fund Performance
The graph has been prepared to show the funds performance over the years. Above the graph, the funds investment style is portrayed in each year.
History
Birla Sun Life Monthly Income
Rating Return Grade Risk Grade Launch Benchmark Category Total Assets (`Cr) Plans & NAV : : Above Average : Below Average : July 1999 : Crisil MIP Blended Index : Hybrid: Debt-oriented Conservative : 538.52 : Growth (37.53), Dividend Quarterly (11.54), Dividend Monthly (11.05)
30000 25000 20000
15000 10000 5000
Credit Rating, Instrument Break-up & Asset Allocation

Credit Rating Break-up: The proportion of the portfolio that is invested in instruments of different credit quality. Instrument Break-up: The proportion of the funds holdings that are held in different types if fixed-income instruments. Asset Allocation: The distribution of its investment between equity, debt and cash
Top Holdings (%)

Debt Holdings
Company Sector Instruments Assets
History
NAV (`) Total Return (%) +/- VR MIP (%) Rank (Fund/Category) 52 Week NAV High (`) 52 Week NAV Low (`) Expense Ratio (%) (Sep) Net Assets (`Cr)
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
16.46 14.21 4.46 9/23 16.46 14.40
19.77 20.14 7.21 9/26 19.77 16.27
20.89 5.65 3.28 14/29 20.89 19.55
22.42 7.31 -1.76 38/55 22.46 20.63
25.14 12.12 1.76 19/58 25.28 22.42
29.40 16.96 -0.47 16/59 29.40 24.91
28.71 -2.36 3.53 17/58 29.80 25.94
33.72 17.45 2.81 23/55 33.72 27.96
36.32 7.74 -0.48 18/57 36.32 33.67
37.53 3.32 7.05 13/58 37.70 35.78
Financial IDBI Bank Energy Rural Electrication Financial L I C Housing Fin. Reliance Ports&Terminals Energy Services Power Finance Corp. Services Power Finance Corp. Financial IDFC Diversied Aditya Birla Nuvo Energy Power Grid Corp. Reliance Utilities & Power Engg. Financial State Bank of India Financial HDFC Financial Tata Sons Financial NABARD Financial IDBI Bank Equity Holdings
Company Sector
Debenture Bonds Debenture Debenture Bonds FRD Debenture Debenture Bonds SO Debenture Debenture Debenture Bonds Bonds
14.91 13.29 10.36 10.10 9.68 9.29 5.02 4.93 2.98 2.93 1.04 0.69 0.24 0.24 0.19
2.17 2.19 2.14 2.04 2.09 2.06 2.18 1.95 2.15 1.98 372.65 369.64 260.33 156.23 130.93 182.57 127.24 288.63 692.70 538.52

Fund Return Rank Category Fund/Cat VR MIP SWP Return

Q1 Q2 Q3 Q4 Year
3Y-High 3Y-Low Assets
1-Week 1-Month 3-Month 6-Month 1-Year 2-Year 3-Year 5-Year
0.02 0.17 0.23 0.95 3.32 5.51 9.35 8.35
-0.13 -0.18 0.03 0.32 1.94 4.64 8.05 6.79
20/64 19/64 29/62 25/62 13/58 14/51 12/47 11/45
-0.39 -0.32 -0.85 -3.39 -3.73 2.07 6.10 5.71
1.63 3.48 -1.62 0.80 4.97 5.82 10.85 8.38
Infosys TCS Nestle India Glaxo Cons. Healthcare HDFC
Technology Technology FMCG FMCG Financial
1.08 0.68 0.97 0.56 0.50
0.27 0.00 0.00 0.00 0.00
0.67 0.65 0.58 0.56 0.50
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
0.82 1.21 -0.07 -5.90 -0.01 4.24 -0.18 2.14 0.42 4.30
1.51 2.19 10.47 -2.22 4.93 -0.19 2.53 -2.79 6.29 2.86
0.73 2.96 3.76 0.35 5.12 4.79 3.61 2.08 6.24 1.58
0.23 1.18 2.54 5.76 6.05 2.85 1.20 4.23 5.94 4.80
3.32 7.74 17.45 -2.36 16.96 12.12 7.31 5.65 20.14 14.21

Period Fund VR MIP
Risk Measures
Fund VR MIP Cat Average
Credit Rating Break-up (%)
Instrument Break-up (%)

Debenture 47.28 Bonds 26.39 Floating Rate Debenture 9.29 Structured Obligation 2.93 Cash & Cash Eq. 2.66

Portfolio Characterstic: Aggregate measures regarding the funds investments. It carries total number of securities. The average maturity, the 52 week high and low in terms of maturity. And the average credit rating of the fund. Fund Style: A nine-cell matrix of the overall style of investment that the fund follows, based on its latest portfolio. On the vertical axis, the three steps denote the weighted average market capitalisation of the funds investments. The horizontal axis denotes, on a weighted average basis, whether the companies that the fund has invested in are value stocks, growth stocks, or a blend of the two.
GOI Securities AAA P1+ AA A and Below Unrated Treasury Bills Term Deposit Cash Equivalent Mutual Fund Debt
0 65.86 0 20.03 0 0 0 0 2.66 0
22/11/99 - 22/02/00 04/01/08 - 04/04/08 20/11/08 - 20/11/09 26/10/07 - 27/10/08
18.30 -7.68 28.02 -8.30
-6.93 21.07 -9.91
Standard Deviation Sharpe Ratio
4.20 1.03
6.07 0.23
4.85 0.72
Data on the funds performance since its launch. NAV (Year End) : The last NAV of each year. Total Return : The percentage returns that an investor would have got over the year. +/- : In the given year, a comparison of the funds returns with that of index. Rank : The funds performance rank within its category for the year and the total number of funds out of which it has been ranked. 52-Week NAV Range : The highest and the lowest NAV that the fund recorded during that year Expense Ratio : The percentage of the average daily assets that the fund charged as its management expenses during the year. Net Assets : The total amount of investors assets that the fund was managing at the end of the year.
Strategy & Review

OBJECTIVE This fund scheme primarily seeks regular monthly income and also aims at capital growth with a predominant exposure to debt and money market instruments. The fund invests in a mix of high quality fixed income securities and a small portion in equities that is capped at 15 per cent. STRATEGY The fund managers adopt the bottom-up approach for equity investing, with the fixed income investment emphasising on investments in instruments that generate consistently superior yields at low risk levels. From 20 stocks in mid-2009 the portfolio has diversified to 32 stocks to spread the risk. The equity allocation is restricted at 15 per cent and has seldom breached this limit with Gujarat Gas, United Breweries, Infosys, Hero Motorcorp and Magnasound India amongst its favourite stock picks. The debt allocation is maintained at around 80 per cent consistently and constitutes government securities, call money and treasury bills, corporate debt and certificate of deposit. PERFORMANCE The fund has an impressive track record and has consistently outperformed the category. The fund has been regular in paying dividends and in its 135 month history; it has paid out dividends on 126 occasions. In 2011 the fund's performance was marginally better than the category average, unlike 2010 when it had under performed the same. PORTFOLIO MANAGERS Satyabrata Mohanty: B.Com, C.A. and CFA. He has over 12 years experience and has handled responsibilities across fund management, trading and credit research. In the past he has worked with Aditya Birla Management. Nishit Dholakia: B.Com and C.A. he has over 11 years experience in the mutual fund industry with the last 8 with BSLAMC. He has worked with IDFC Investment Advisors and Reliance Capital in the past.

Equity Debt Cash & Cash Eq.
FUND STYLE Credit Quality
High Medium Low High Medium Low
11.45 85.89 2.66
Total Bonds Total Stocks Avg Maturity (Yrs.) Avg Maturity 52W High (Yrs.) Avg Maturity 52W Low (Yrs.) Avg Credit Rating 15 32 3.49 4.24 0.51 AA
Quarterly Returns
Interest Rate Sensitivity
AMC : Birla Sun Life Asset Mgmt Co Ltd Website : www.birlasunlife.com Registrar : Computer Age Mgmt Services Ltd. Min Inv (`) : 5,000 Min SIP Inv (`) : 1,000 Exchange Availability : Exit Load : 1% for redemption within 365 days
Trailing Returns
Performance data for various standard periods, all ending on December 31st. All returns are in percentage. Periods greater than a year are annualised, shorter periods are not. Fund : The funds own returns. Category : The average returns for all funds in the category. Rank : The funds rank, out of the total number of funds in the category Index : The returns of the funds benchmark index. SWP Return: The return that an investor would have got when withdrawing from the funds on a systematic withdrawal plan (SWP).
Strategy & Review


Best & Worst Returns : The best and worst, three months and one year periods in the funds history, along with its benchmark index during the period. All possible periods are evaluated for this. Risk Measures : A range of statistical measures that can be used to evaluate the performance, risk, and return of a mutual fund
Basic investment information for the fund. AMC : The name of the AMC Website : Website of the AMC Registrar : The registrar to be reached for information Min Inv : Minimum amount to be invested in the fund ` Min SIP Inv (`) : Minimum amount required for SIP Exchange Availability : Fund trades on exchanges Exit Load : Charges on exit from the fund
24
Reading a Fund Report - ETF
Top Holdings
A detailed report about the investment portfolio of a fund. Equity Holding: The name of each company, its sector, the maximum allocation in the last 3-years and the minimum allocation in the company has seen in the last 3years. It also has the current allocation of the portfolio as Assets.

Launch: The launch date of the fund Benchmark: The index against which the fund compares its performance Category: The Value Research category under which the fund is classified. ` Net Assets (` Cr): The Net Assets of the fund Plans & NAV: The NAV under its Growth and Dividend plans
Fund Performance vs Index, Volume Traded and Premium/Discount

The graph has been prepared to show the funds performance over the benchmark over the years. Above the graph, the funds investment style is portrayed in each year has been shown. Volume Traded: This shows the volumes traded at the exchange. Premium/Discount: If the fund is available at premium or discount.
Top Sector Weights

ICICI Prudential SPIcE

Rating Return Grade Risk Grade Launch Benchmark Category Total Assets (`Cr) Plans & NAV : : : : : : : : Not Rated Not Rated Not Rated January 2003 BSE Sensex Equity: Large Cap 0.94 Growth (163.46)
Sector 3Y-High 3Y-Low Assets
NA 70000 60000 50000 40000 30000 20000 10000 0
Top Holdings (%)

Company
History
Volume Traded

Portfolio Characteristics: Total number of stocks and bonds that are part of the portfolio. Aggregate measures regarding the funds investments. The market capitalisation, P/B ratio and P/E ratio are weighted averages of the latest numbers of the companies that the fund is invested in. Three Year Earnings Growth is the weighted average of the compounded average growth in the net profits of each company. Fund Style: A nine-cell matrix of the overall style of investment that the fund follows, based on its latest portfolio. On the vertical axis, the three steps denote the weighted average market capitalisation of the funds investments. The horizontal axis denotes, on a weighted average basis, whether the companies that the fund has invested in are value stocks, growth stocks, or a blend of the two.
Infosys Reliance Industries ITC HDFC HDFC Bank ICICI Bank TCS Larsen & Toubro State Bank of India Bharti Airtel Hindustan Unilever ONGC Tata Motors Mahindra & Mahindra NTPC Wipro Bajaj Auto Tata Steel Sun Pharma Inds. BHEL
Technology 10.48 Energy 16.22 FMCG 8.48 7.02 Financial 6.36 Financial 8.51 Financial 5.29 Technology 7.32 Diversied 5.85 Financial 6.10 Comm. 3.98 FMCG 4.49 Energy 2.74 Automobile 2.88 Automobile 3.27 Energy 1.90 Technology 1.81 Automobile 2.96 Metals 1.62 Healthcare Engineering 3.42
6.96 9.68 4.32 4.41 4.40 4.91 1.53 4.25 3.60 2.53 1.95 3.07 0.51 0.79 1.85 0.87 1.26 1.27 0.80 1.59
10.48 9.68 8.48 7.02 6.19 6.11 5.29 4.25 3.60 3.54 3.41 3.41 2.61 2.61 2.06 1.90 1.80 1.75 1.59 1.59
Premium Discount to NAV (%)
History
Avg. Premium/Discount (%) 52 Week High - Premium (%) 52 Week Low - Discount (%) Market Return (%) NAV (`) Total Return (%) +/- BSE Sensex (%) Rank (Fund/Category) 52 Week NAV High (`) 52 Week NAV Low (`) Expense Ratio (%) (Sep) Net Assets (`Cr)
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
-1.45 4.11 -5.74 76.15 58.84 58.84 29.26 0.80 16.52
-1.92 -3.20 16.79 13.00 253.78 11.41 -14.25 -8.10 -16.50 11.02 136.55 -2.80 67.01 13.89 0.81 17/37 67.01 45.55 0.80 0.90 95.51 42.54 0.21 6/33 95.51 61.96 0.80 0.79 47.69 0.99 5/35
-0.25 2.26 0.66 11.43 15.50 15.43 -10.15 -19.39 -13.13 32.45 -52.24 86.84 46.78 -51.12 -0.37 1.33 25/36 17/39 89.50 0.80 0.54 78.41 -2.62 9/46
-0.50 -1.83 18.42 15.68 -9.47 -14.93 9.84 -18.79 18.77 -23.77 0.87 1.34 15/55 32/73
141.06 207.04 101.20 180.55 214.44 163.46

Fund Sensex 3Y-High 3Y-Low
Financial Energy Technology FMCG Automobile Metals Diversied Communication
22.92 17.75 17.68 11.89 9.52 5.49 4.72 3.54
23.37 18.05 17.97 12.15 9.31 5.57 4.81 3.60
25.46 25.99 17.68 11.89 9.69 8.57 9.90 7.72

Growth Blend Value
18.15 17.11 9.48 6.56 2.50 2.87 4.72 3.45
143.15 207.81 212.82 180.55 217.84 214.96 91.37 127.48 0.80 0.80 0.76 1.11 86.92 163.87 160.55 0.80 0.80 0.80 0.95 1.12 0.94

Fund Return Rank SIP Sensex Category Fund/Cat Return

Q1 Q2 Q3 Q4 Year
Total Stocks 30 Avg Mkt Cap (`Cr) 99956 Portfolio P/B Ratio 4.78 Portfolio P/E Ratio 20.12 3Y Earnings Growth (%) 15.67
-6.02 -17.65 -23.77 -4.85 17.33 2.99 13.59 -
-6.59 -17.15 -23.31 -4.83 15.80 2.87 12.46 -
17/76 36/75 32/73 29/63 17/56 16/41 10/35 -
-6.07 -17.99 -24.64 -5.93 17.01 2.31 12.92 -
-47.06 -30.77 -24.04 -13.14 -1.12 1.54 6.48 -


2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
-5.16 0.73 0.69 -23.87 -4.78 20.24 -1.80 -4.31 -
-2.40 1.14 48.16 -12.97 12.14 -5.38 11.33 -13.38 19.05 -
-12.38 13.49 17.36 -3.82 17.67 17.57 20.00 16.94 24.51 -
-6.02 2.72 1.91 -23.30 16.82 10.41 8.64 17.49 30.42 -
-23.77 18.77 78.41 -51.12 46.78 47.69 42.54 13.89 -
Data on the funds performance since its launch. NAV (Year End): The last NAV of each year. Total Return: The percentage returns that an investor would have got over the year. +/- : In the given year, a comparison of the funds returns with that of two stock market indices Rank: The funds performance rank within its category for the year and the total number of funds out of which it has been ranked. 52-Week NAV Range: The highest and the lowest NAV that the fund recorded during that year Expense Ratio: The percentage of the average daily assets that the fund charged as its management expenses during the year. Net Assets: The total amount of investors assets that the fund was managing at the end of the year.
Large Medium Small
Capitalisation
Strategy & Review

OBJECTIVE: This open ended exchange traded fund (ETF) passively replicates the Sensex and provide s returns that, before expenses, closely correspond to the total return of the Sensex. The fund takes exposure to the identical stocks that comprise the Sensex, in the same proportion. However, the fund manager has the leeway to go up to 10 per cent in debt or money market securities. The face value of one SPIcE unit is equal to 1/100th of the Sensex value. TRADING STATS: This fund traded on 72 days in 2011 and on 374 days out of 742 trading days over the past three years. The trading volume of this fund ranged from 1 to 2,600 units in 2011, with the average daily trading volume of 194 units in 2011. In 2011 this ETF traded at an average discount of 1.83 per cent (range: -14.93 per cent to 15.68 per cent) to its NAV.
AMC Website Registrar Min Inv (`) Min SIP Inv (`) Exchange Availability Exit Load : Nil : : : : : : ICICI Prudential Asset Mgmt Co Ltd www.icicipruamc.com Computer Age Mgmt Services Ltd 5,000 -

Portfolio Concentration: The percentage of the portfolio formed by the top 10, 5 and 3 holdings of the fund. Asset Allocation: The distribution of its investment between equity, debt and cash
Quarterly Returns
The funds returns over each quarter of the last five years, along with the entire years returns
Strategy & Review

Trailing Returns
Performance data for various standard periods, all ending on December 31st. All returns are in percentage. Periods greater than a year are annualised, shorter periods are not. Fund: The funds own returns. Category: The average returns for all funds in the category. Rank: The funds rank, out of the total number of funds in the category Index: The returns of the funds benchmark index. SIP Return (Annualised): The return that an investor would have made by investing in the funds monthly systematic investment plan over the period.
Basic investment information for the fund. AMC: The name of the AMC Website: The name of the AMC Registrar: The registrar to be reached for information Min Inv: Minimum amount to be invested in the fund ` Min SIP Inv (`): Minimum amount required for SIP Exchange Availability: Fund trades on exchanges Exit Load: Charges on exit from the fund
25
How to build a winning portfolio How to track your investments smartly Hand picked funds by Value Research's analysts to build a winning portfolio Details on all International funds available to Indian investors Profile, trading review, key stats on all Exchange Traded Funds Complete mutual fund database with fund ratings,
Value Research
w w w. v a l u e r e s e a r c h o n l i n e . c o m
Price: `595
ISBN: 978-81-908220-9-1
9 788190 822091

Mutual Funds

Cargado por

Información del documento

Descripción original:

Título original

Derechos de autor

Formatos disponibles

Compartir este documento

Compartir o incrustar documentos

Opciones para compartir

¿Le pareció útil este documento?

¿Este contenido es inapropiado?

Copyright:

Formatos disponibles

Mutual Funds

Cargado por

Copyright:

Formatos disponibles

Value Research

MUTUAL FUND YEARBOOK

Mutual Fund Yearbook 2013

(Dhirendra Kumar) Chief Executive Value Research

Mutual Fund Yearbook 2013

Reading a Fund Report - Equity

Fund Performance vs Index

Top Sector Weights

AIG India Equity Regular

Top Holdings (%)

Fund BSE 100 (Index is continuously rebased to 10,000)

Portfolio Characteristics & Fund Style

11.56 95.78 20.02 10.74 9/61 11.56 5.19

12.91 11.66 -6.29 -4.00 59/65 13.27 10.96

10.95 -15.18 9.44 10.55 1/44 12.94 10.75

- -56.74 - -4.95 - -1.46 - 50/59 13.65 14.13 9.52 5.32

Trailing Returns (%)

Quarterly Returns (%)

Top Sector Weights (%)

3-Month 6-Month 1-Year 2-Year 3-Year 5-Year 7-Year 10-Year

-6.86 4.21 1.54 -27.81 -

3.80 1.73 47.99 -18.08 -

-4.49 4.58 22.58 -4.32 14.65 -

-8.14 0.70 6.29 -23.55 18.05 -

-15.18 11.66 95.78 -56.74 -

Energy Automobile Technology Metals Financial Services Chemicals Diversied

15.93 12.36 9.92 9.90 5.72 4.72 4.53 3.58

17.70 7.06 13.51 5.44 24.08 1.49 1.27 4.37

17.85 23.18 11.77 15.70 20.57 19.91 6.51 7.17

0.00 6.52 1.61 2.16 1.70 3.09 0.00 0.00

Best & Worst Returns (%)

Best 3-Month Worst 3-Month Best 1-Year Worst 1-Year

93.51 -43.47 118.24 -58.94

Standard Deviation Sharpe Ratio Beta R-Squared

23.19 0.80 0.83 0.89

26.65 0.61 0.95 0.90

Portfolio Concentration (%)

Asset Allocation (%)

Portfolio Concentration & Asset Allocation

All data as on 31/12/2011

Strategy & Review

Best & Worst Returns & Risk Measures

Mutual Fund Yearbook 2013

Reading a Fund Report - Hybrid

Value Research Rating, Risk and Return

Fund Performance vs Index

Birla Sun Life 95

Top Sector Weights

Top Holdings (%)

Fund VR Balanced (Index is continuously rebased to 10,000)

15000 10000 5000

Portfolio Characteristics & Fund Style

48.09 10.96 4.23 7.71 17/26 49.58 42.95

Trailing Returns (%)

Quarterly Returns (%)

IDBI Bank L I C Housing Fin. Tata Sons HDFC IDBI Bank

Financial Financial Financial Financial Financial

Debenture Debenture Debenture Debenture Bonds

12.14 4.66 2.99 2.85 2.72

3-Month 6-Month 1-Year 2-Year 3-Year 5-Year 7-Year 10-Year

Top Sector Weights (%)

Best & Worst Returns