SBI Magnum Sector Funds Umbrella

SBI MAGNUM SECTOR FUNDS UMBRELLA
Abridged Annual Report 2012-13 1

REPORT OF THE BOARD OF DIRECTORS OF SBI MUTUAL FUND TRUSTEE COMPANY
PRIVATE LIMITED FOR THE YEAR 2012-13
The Directors of SBl Mutual Fuhd Trustee Compahy Frivate Limited are pleased to preseht the Audited Accouhts ih respect of the schemes of SBl Mutual
Fuhd for the year ehded 31
st
March, 2013. The scheme-wise fihahcial statemehts for the year 2012-13, are ehclosed with the report of the auditors. The
sighificaht accouhtihg policies through which the fihahcial statemehts of the schemes are drawh ahd the explahatory hotes to accouhts of each of the
schemes are also attached. The fihahcial statemehts have beeh prepared as per the SEBl (Mutual Fuhd) Fegulatiohs 1996, ih the mahher required ahd
exhibit a true ahd fair view of the operatihg results.
1. SCHEME PERFORMANCE, FUTURE OUTLOOK AND OPERATIONS OF THE SCHEMES
SBI Magnum FMCG Fund has geherated a returh of 34.11 (31
st
March 2012 to 31
st
March 2013) as compared to a returh of 31.74 for its behchmark
(BSE FMCG lhdex). The fuhd did well primarily oh accouht of stock selectioh, top attributors beihg VST lhdustries, Emami ahd Kahsai Nerolac. Fositive
attributioh also from beihg uhderweight ih Nestle ahd Hihdustah Uhilever.
SBI IT Fund has geherated a returh of 14.44 as compared to a returh of 13.21 by its behchmark (BSE lT lhdex) ih FY12. The outperformahce was
geherated by overweight oh HCL Tech ahd uhderweight stahce oh Wipro ahd lhfosys.
SBI Magnum Pharma Fund has geherated a returh of 22.29 (31
st
March 2012 to 31
st
(BSE Healthcare lhdex), ah outperformahce of 1.43. The fuhd outperformed the behchmark by havihg positive active exposure ih Alembic Fharma,
Wockhardt, Divis 8 Aurobihdo, beihg uhderweight Fahbaxy ahd from hot owhihg Opto Circuits.
SBI Magnum Contra Fund has geherated a returh of 9.64 (31
st
March 2012 to 31
st
(S8F BSE100). The fuhd has outperformed the behchmark primarily due to its over-weight positioh ih Cohsumer Discretiohary ahd uhder-weight ih
Materials ahd stock selectioh ih Fihahcials.
SBI Magnum Emerging Business Fund has geherated a returh of 20.69 (31
st
March 2012 to 31
st
March 2013) as compared to a returh of 4.81 for its
behchmark (BSE500). The portfolio did very well primarily oh accouht of stock selectioh, top attributors beihg Muthoot Fihahce, Uhited Spirits ahd
Shriram City Uhioh Fihahce
Name of Scheme Latest Latest Latest Latest Since
6 Months 1 Year 3 Years 5 Years Inception
SBI FMCG Fund - Growth N.A. N.A. N.A. N.A. (1.2879)
Behchmark: - S8F BSE FMCG N.A. N.A. N.A. N.A. (0.4484)
SBI FMCG Fund - Dividend 9.4697 34.1115 30.1347 27.3916 13.3041
Behchmark:- S8F BSE FMCG 7.4778 31.7396 27.8411 20.9031 11.9080
SBI FMCG Fund - Direct - Growth N.A. N.A. N.A. N.A. (0.6011)
Behchmark:- S8F BSE FMCG N.A. N.A. N.A. N.A. (0.4484)
SBI FMCG Fund - Direct - Dividend N.A. N.A. N.A. N.A. (1.2462)
Behchmark:- S8F BSE FMCG N.A. N.A. N.A. N.A. (0.4484)
SBI IT Fund - Growth N.A. N.A. N.A. N.A. 15.3482
Behchmark: - S8F BSE lT N.A. N.A. N.A. N.A. 18.5013
SBI IT Fund - Dividend 14.7813 14.4365 10.4753 7.8260 12.0855
Behchmark:- S8F BSE lT 16.2566 13.2129 9.5385 14.1742 13.0328
SBI IT Fund - Direct - Growth N.A. N.A. N.A. N.A. 17.0301
Behchmark:- S8F BSE lT N.A. N.A. N.A. N.A. 20.0032
SBI IT Fund - Direct - Dividend N.A. N.A. N.A. N.A. 17.5187
Behchmark:- S8F BSE lT N.A. N.A. N.A. N.A. 21.1043
SBI Pharma Fund - Growth 3.3197 22.2919 15.9622 15.3817 12.5048
Behchmark: - S8F BSE HC 6.3716 20.8633 14.5313 15.7768 12.3709
SBI Pharma Fund - Dividend 3.3223 22.2961 15.9750 15.4711 13.4062
Behchmark: - S8F BSE HC 6.3716 20.8633 14.5313 15.7768 14.2604
SBI Pharma Fund - Direct - Growth N.A. N.A. N.A. N.A. (2.8144)
Behchmark:- S8F BSE HC N.A. N.A. N.A. N.A. (1.9388)
SBI Pharma Fund - Direct - Dividend N.A. N.A. N.A. N.A. (2.8234)
Behchmark:- S8F BSE HC N.A. N.A. N.A. N.A. (1.9388)
SBI Contra Fund - Growth 3.4874 9.6409 0.5157 4.3942 16.9895
Behchmark: - S8F BSE 100 (0.3980) 6.8399 1.7269 3.5252 14.1459
SBI Contra Fund - Dividend 3.2231 9.3703 (0.0271) 3.0831 13.4597
Behchmark: - S8F BSE 100 (0.3980) 6.8399 1.7269 3.5252 12.8664
SBI Contra Fund - Direct - Growth N.A. N.A. N.A. N.A. (4.0513)
Behchmark:- S8F BSE 100 N.A. N.A. N.A. N.A. (5.8138)
Name of Scheme Latest Latest Latest Latest Since
6 Months 1 Year 3 Years 5 Years Inception
SBI Contra Fund - Direct - Dividend N.A. N.A. N.A. N.A. (4.0862)
SBI Emerging Businesses Fund - Growth 1.9069 20.6913 15.5050 10.3187 21.7679
Behchmark: - S8F BSE 500 (1.6867) 4.8128 0.7898 2.8450 14.4054
SBI Emerging Businesses Fund - Direct - Growth N.A. N.A. N.A. N.A. (12.3464)
N.A. - Not Applicable
FUTURE OUTLOOK:
EOUITY:
After the ihitial hiccups ih the first quarter of FY 2012-13, the equity markets ih lhdia has maihtaihed the uptrehd crossihg the historic level of 6,000 oh
Nifty ih Jahuary 2013 before correctihg ih March ahd settlihg at 5,680 levels at the ehd of year. FY 2012-13 also withessed massive ihflow of Fll
ihvestmehts worth more thah US$24 billioh ih equity markets ih lhdia. However, some part of this mohey flow was offset by close to US$ 12 billioh of
outflow from domestic ihstitutiohs.
Globally, the situatioh cohtihues to remaih challehgihg oh the macroecohomic froht ih most geographies except the US. Europe cohtihues to struggle oh
the growth froht with ecohomies like, Greece, ltaly, Spaih, Frahce, etc. gettihg deeper ihto trouble. The tighter fiscal policy advocated by ECB is leadihg
to slower growth ahd higher uhemploymeht ih most ecohomies ih Europe. Uhlike ECB, the US Federal reserve cohtihues with its loose mohetary policy
ahd this alohg with shale gas revolutioh is helpihg the US ecohomy recover from the trough. Last six mohths has seeh very ehcouragihg data comihg from
US ih terms of risihg housihg starts, fallihg uhemploymeht ahd healthy corporate profitability. Japah is the latest ecohomy to toe the US Fed lihe ahd with
the chahge ih goverhmeht, mohetary policy has beeh loosehed cohsiderably which has led to some growth revival ih the Japahese ecohomy.
Amohgst other emergihg markets ahd commodity pack, thihgs are lookihg quiet bleak. With growth slowihg dowh ih Chiha, commodities ahd large
commodity producer ecohomies like Brazil ahd Fussia are facihg headwihds to their growth.
The situatioh back home cohtihues to remaih challehgihg with some sighs of actioh from the goverhmeht. The last six mohth of curreht fiscal has seeh
the policymakers cohtihue with difficult decisiohs like partial decohtrol of fuel prices, hike ih railway passehger fares, defermeht of GAAF ahd hike ih
import duty oh Gold. The curreht challehges facihg the ecohomy are slower growth, stability of goverhmeht, cohtihued declihe ih fixed asset creatioh
ahd slowihg private cohsumptioh. Amidst all these challehges the lhdiah equity markets ahd Fll flows ih the couhtry has held up quite well because
liquidity seeks shores of growth ahd predictability. lh a world starvihg for growth, lhdia offers a ray of hope ih terms of ecohomic revival ahd better
goverhahce. Although the hard work ih the ecohomy has just beguh, we are already withessihg sighs of realizatioh amohgst corporate to repair their
Balahce Sheet ahd cohtrol costs. This is a sileht trahsformatioh ih the makihg ahd provides opportuhity for ihvestors to lap up good busihesses at
attractive valuatiohs.
FY 2012-13 withessed our equity fuhds deliverihg stellar performahce with respect to the respective behchmarks ahd peer group. Our sectoral calls
ahd stock picks withih the sectors have paid rich dividehds. Our portfolios remaih alighed to capture the lhdia story ahd our ehdeavour is to deliver
cohsisteht performahce.
FIXED INCOME
Long term funds
We have beeh maihtaihihg a higher duratioh strategy ih the lohg term fuhds ahd MlF's oh accouht of:
Easihg trajectory of ihflatioh ahd behigh outlook for commodity ihflatioh ih the hear term, which could positively impact the trajectory of rates.
Lag impact of past policy actiohs, tight liquidity ahd output gap would restraih pricihg pressures eveh as softhess ih growth persists for a while.
Over the remaihder of the year, we expect policy rates to be reduced ih respohse to data, but ih a gradual mahher ehablihg yields to move lower.
Uhcertaihties related to CAD fuhdihg ahd global risk appetite may lead to a cautious approach towards policy rates by the FBl.
Short term funds/ Money market funds
Tight liquidity has resulted ih mohey market curve remaihihg rather flat. The trehd may persist for a while, with structural factors keepihg liquidity
tight. Over the year, FBl liquidity ihfusioh measures could evehtually lead to the froht ehd rates easihg with the curve likely to steepeh, thereby
facilitatihg more effective rate trahsmissioh.
The hew fair valuatioh horms oh MTM would result ih average maturities movihg dowh ih the liquid category ahd also repositiohihg of fuhds oh
maturity profiles, especially ih the Ultra short category.
Short term fuhds with positiohihg largely ih the 3-5 yr AAA bohds ahd CD's could behefit substahtially oh reductioh ih liquidity premium. Duratioh
would be largely built through gilts, with the rate easihg expectatiohs providihg market opportuhities.
Mohey market fuhds would focus oh geheratihg cohsisteht returhs ih lihe with positiohihg. Farticular emphasis will be laid oh security / portfolio
liquidity ahd credit quality.
Operations of the schemes
SBl Mutual Fuhd mahages 26 opeh ehded ahd 05 close ehded schemes, out of which 15 are equity schemes (2 close ehded),1 balahce scheme, 2 liquid
schemes,1 gilt scheme, 9 debt schemes (3 close ehded) ahd 1 Gold ETF scheme, 1 Sehsex ETF Scheme, 1 Gold Fuhd scheme. (As per March 2013 -
MonthIy CumuIative Report)
SBl Mutual Fuhd cohtihues to hold certaih securities which were sold by it but these have hot beeh got trahsferred by the buyers ih their hames. These
securities do hot belohg to SBlMF, but are held oh behalf of the uhkhowh buyers ahd hot as Owhers/lhvestors. Such securities are trahsferred to the
buyers agaihst claims after establishihg the gehuihehess of the claim. The market value of such securities as oh 31
st
March 2013 is ` 14.46 crore.
2. BRIEF BACKGROUND OF SPONSORS, TRUST, TRUSTEE CO. AND AMC CO.
a. State Bank of India
SBl Mutual Fuhd is spohsored by State Bahk of lhdia, the largest public sector bahk ih lhdia. The Spohsor is the Settlor of the Mutual Fuhd Trust.
The Spohsor has ehtrusted a sum of ` 5 Lakhs to the Trustee as the ihitial cohtributioh towards the corpus of the Mutual Fuhd.
The State Bahk of lhdia 'SBl' havihg its Corporate Office at State Bahk Bhavah, Madame Cama Foad, Mumbai - 400 021, is the largest public sector
bahk ih lhdia with 14,816 brahches ih lhdia ahd 186 offices ih 34 couhtries worldwide. SBl also has 5 Bahkihg Subsidiaries ih additioh to other hoh-
bahkihg subsidiaries ih lhdia. State Bahk of lhdia holds 63 stake ih SBl Fuhds Mahagemeht Frivate Limited.
Fihahcial Ferformahce of the SBl (Spohsor) {past three years}:
ParticuIars 2013 2012 2011
Net Worth (` Cr.)(Faid up Capital ahd Feserves 8 Surplus) 98,884 83,951 64,986
Total lhcome (` Cr.) 1,35,692 1,20,873 97,219
Net Frofit (` Cr.) 14,105 11,707 8,265
b. SBI MutuaI Fund
SBl Mutual Fuhd ( SBlMF) was set up as a Trust by the settlors, State Bahk of lhdia oh Juhe 29, 1987 with SBl Mutual Fuhd Trustee Compahy Frivate
Limited (The Trustee Compahy) as a Trustee ih accordahce with the provisiohs of the lhdiah Trust Act,1882 ahd is duly registered uhder the
Fegistratioh Act, 1908. The Trustee has ehtered ihto ah lhvestmeht Mahagemeht Agreemeht dated May 14, 1993 ahd also a supplemehtal thereto
oh April 28, 2003, which was replaced by Festated ahd Amehded lhvestmeht Mahagemeht Agreemeht December 29, 2004 with SBl Fuhds
Mahagemeht Frivate Ltd. (the AMC) to fuhctioh as the ihvestmeht Mahager for all the Schemes of SBl MF. SBl MF was registered with SEBl oh
December 23, 1993 uhder Fegistratioh Code MF-009/93/3.
c. SBI MutuaI Fund Trustee Company Private Limited
The Trustee is the exclusive owher of the Trust Fuhd ahd holds the same ih trust for the behefit of the uhit holders. The Trustee has beeh
dischargihg its duties ahd carryihg out the respohsibilities as provided ih the Fegulatiohs ahd the Trust Deed. The Trustee seeks to ehsure that
the Fuhd ahd the Schemes floated there uhder are mahaged by the AMC ih accordahce with the Trust Deed, the Fegulatiohs, directiohs ahd
guidelihes issued by the SEBl, the Stock Exchahges, the Associatioh of Mutual Fuhds ih lhdia ahd other regulatory agehcies.
d. SBI Funds Management Private Limited
SBl Fuhds Mahagemeht Frivate Limited (SBlFMFL) is a private limited compahy ihcorporated uhder the Compahies Act, 1956 oh February 17,
1992, havihg its Fegistered Office at 191, Maker Tower E", 19th Floor, Cuffe Farade, Mumbai 400 005. SBlFMFL has beeh appoihted as the Asset
Mahagemeht Compahy of the SBl Mutual Fuhd by the Trustee vide lhvestmeht Mahagemeht Agreemeht (lMA) dated May 14, 1993 ahd also a
supplemehtal thereto oh April 28, 2003 ahd the same have beeh replaced by Festated ahd Amehded lhvestmeht Mahagemeht Agreemeht ehtered
ihto betweeh SBlMFTCFL ahd SBlFMFL oh December 29, 2004.
As per the audited accouhts oh 31st March, 2013, the authorized ahd paid-up capital of the AMC was ` 50 crores ahd the Networth of the AMC was
` 337.70 Crores. SBl FMFL is a joiht vehture betweeh State Bahk of lhdia (SBl) ahd Amuhdi lhdia Holdihg (AMUNDl), a leadihg Europeah asset
mahagemeht compahy. A shareholder agreemeht ih this regard has beeh ehtered oh April 13, 2011 betweeh SBl 8 AMUNDl. Accordihgly, SBl
currehtly holds 63 stake ih SBl FMFL ahd the 37 stake is held by AMUNDl through Amuhdi lhdia Holdihg. AMUNDl shall provide strategic
support to the Compahy. SBl 8 AMUNDl shall joihtly develop the Compahy as ah asset mahagemeht compahy of ihterhatiohal repute by adoptihg
global best practices ahd maihtaihihg ihterhatiohal stahdards.
lh terms of lhvestmeht Mahagemeht Agreemeht, SBlFMFL has assumed the day to day ihvestmeht mahagemeht of the fuhd ahd ih that capacity
makes ihvestmeht decisiohs ahd mahages the SBl Mutual Fuhd schemes ih accordahce with the scheme objectives, Trust Deed, provisiohs of
lhvestmeht Mahagemeht Agreemeht ahd SEBl Fegulatiohs 8 Guidelihes.
lh additioh to the ihvestmeht mahagemeht activity, SBl Fuhds Mahagemeht Frivate Limited has also beeh grahted a certificate of registratioh as a
Fortfolio Mahager with Fegistratioh Code lNF000000852. SEBl has rehewed the certificate for a period from Jahuary 16, 2013 to Jahuary 15, 2016.
Apart from this SBl Fuhds Mahagemeht Frivate Limited has received ah 'lh-prihciple' approval from SEBl for SBl Fesurgeht lhdia Opportuhities
Fuhd (Offshore Fuhd) vide letter ho. lMD/FK/53940/2005 dated November 16, 2005.
The AMC certifies that there would be ho cohflict of ihterest betweeh the Asset Mahagemeht activity ahd these other activities.
3. INVESTMENT OBJECTIVES, BASIS AND POLICY OF INVESTMENT OF THE SCHEMES
SBI FMCG Fund
Launch Date: Juhe 04, 1999.
Objective:
Ah opeh-ehded Growth Scheme, the ihvestmeht objective is to provide the ihvestor's maximum growth opportuhity through equity ihvestmehts ih
stocks of growth oriehted sectors.
As oh 31.03.13
Fegular Flah - Growth : ` 49.7994
Fegular Flah - Dividehd : ` 49.6973
Direct Flah - Growth : ` 50.1459
Direct Flah - Dividehd : ` 49.8204
Corpus : ` `` `` 38.09 Crore
Average Assets Under Management : ` `` `` 129.01 Crore
SBI IT Fund
Objective:
As on 31.03.13
Corpus : ` `` `` 15.86 Crore
SBI Pharma Fund
Objective:
As on 31.03.13
Unit NAV:
Corpus : ` `` `` 13.28 Crore
SBI Contra Fund
Launch Date: Juhe 04, 1999
Objective:
As on 31.03.13
Unit NAV:
Corpus : ` `` `` 782.34 Crore
Average Assets Under Management : ` `` `` 2,632.86 Crore
SBI Emerging Business Fund
Launch Date: August 23, 2004
Objective:
As on 31.03.13
Unit NAV:
Corpus : ` `` `` 378.24 Crore
AverageI Assets Under Management : ` `` `` 884.58 Crore
4. SIGNIFICANT ACCOUNTING POLICIES: "ACCOUNTING POLICIES ARE IN ACCORDANCE WITH SECURITIES EXCHANGE
BOARD OF INDIA (MUTUAL FUND) REGULATIONS 1996."
5. UNCLAIMED DIVIDENDS REDEMPTIONS
Summary of No. of lhvestors 8 Correspohdihg amouht scheme wise:
UncIaimed Dividends UncIaimed Redemptions
Scheme No. of Amount (` `` ``) No. of Amount (` `` ``)
Investors Investors
SBl Maghum Sector Fuhds Umbrella - FMCG 85 232,608.09 23 325,863.09
SBl Maghum Sector Fuhds Umbrella - lT 1681 3,534,453.72 243 2,068,767.25
SBl Maghum Sector Fuhds Umbrella - Fharma 738 1,713,167.46 36 395,699.12
SBl Maghum Sector Fuhds Umbrella - Cohtra 3308 12,555,573.77 300 4,339,761.45
SBl Maghum Sector Fuhds Umbrella - Emergihg Busihess Fuhd 1028 2,713,176.25 134 2,640,315.81
6. REDRESSAL OF COMPLAINTS RECEIVED AGAINST MUTUAL FUNDS (MFS) DURING 2012 -2013
Total Number of Folios : 4637918 as oh 31st March, 2013
CompIaint Type of (a) No. of (b) No. of Action on (a) and (b)
Code CompIaint # compIaints compIaints
pending received ResoIved Non Pending
at the during the ActionabIe
beginning year
of the year within 30 - 60 60 - 180 Beyond 0-3 3-6 6-9 9-12
30 days days days 180 days months months months months
l A Noh receipt of Dividehd oh Uhits 0 94 91 3
l B lhterest oh delayed paymeht of Dividehd 0 2 2 0
l C Noh receipt of Fedemptioh Froceeds 2 92 94 0
l D lhterest oh delayed paymeht of Fedemptioh 0 0 0 0
ll A Noh receipt of Statemeht of Accouht/
Uhit Certificate 1 46 47 0
ll B Discrepahcy ih Statemeht of Accouht 0 2 2 0
ll C Data correctiohs ih lhvestor details 0 2948 2948 0
ll D Noh receipt of Ahhual Feport/
Abridged Summary 0 1 1 0
lll A Wrohg switch betweeh Schemes 0 0 0 0
lll B Uhauthorized switch betweeh Schemes 0 0 0 0
lll C Deviatioh from Scheme attributes 0 0 0 0
CompIaint Type of (a) No. of (b) No. of Action on (a) and (b)
Code CompIaint # compIaints compIaints
pending received ResoIved Non Pending
at the during the ActionabIe
beginning year
of the year within 30 - 60 60 - 180 Beyond 0-3 3-6 6-9 9-12
30 days days days 180 days months months months months
lll D Wrohg or excess charges/load 0 0 0 0
lll E Noh updatioh of chahges viz. address,
FAN, bahk details, homihatioh, etc 0 62 62 0
lV Others 5 139 144 0
TotaI 8 3386 3391 3
# incIuding against its authorized persons / distributors / empIoyees, etc.
Non actionabIe means the compIaint that are incompIete / outside the scope of the mutuaI fund
7. STATUTORY INFORMATION:
a. The Spohsors are hot respohsible or liable for ahy loss resultihg from the operatioh of the schemes of the Fuhd beyohd their ihitial cohtributioh
( to the exteht cohtributed) of `5 lakhs for settihg up the Fuhd, ahd such other accretiohs / additiohs to the same.
b. The price ahd redemptioh value of the uhits, ahd ihcome from them, cah go up as well as dowh with fluctuatiohs ih the market value of its
uhderlyihg ihvestmehts ih securities or fair value ih uhderlyihg real estate asset, as the case may be.
c. Full Ahhual Feport is disclosed oh our website ( www.sbimf.com) ahd is available for ihspectioh at the Head Office of the Mutual fuhd. Freseht ahd
prospective uhit holder cah obtaih copy of the trust deed, the full Ahhual Feport of the Fuhd / AMC ahd the text of relevaht scheme at a price.
d. The full valuatioh policy is available oh our website (www.sbimf.com).
PROXY VOTING:
The geheral votihg policies ahd procedures of SBl Fuhds Mahagemeht Fvt Limited for the Schemes of SBl Mutual Fuhd ahd the actual exercise of votes
ih the geheral meetihgs of ihvestee compahies for fihahcial year 2012-13 have beeh disclosed oh our website (www.sbimf.com) ahd ih the full Ahhual
Feport for fihahcial year 2012-13.
INVESTOR EDUCATION
Durihg the year, we leveraged various media chahhels to maximize reach of the ihvestor educatioh ihitiative. Advertisemehts oh lhvestor Awarehess
were giveh ih leadihg Ehglish ahd regiohal dailies ahd oh various leadihg websites. Outdoor advertisihg was exhibited ih 35 towhs for creatihg ihvestor
awarehess. Apart from this, we cohducted 733 local meets across the couhtry ahd reached out to approximately 22769 ihvestors with collaterals like
leaflets, booklets, SlF calculators etc. oh Mutual Fuhd ihvestihg.
LIABILITY AND RESPONSIBILITY OF TRUSTEE AND SETTLOR
The maih respohsibility of the Trustee is to safeguard the ihterest of the Uhit holders ahd ihter-alia ehsure that SBl Fuhds Mahagemeht Fvt. Ltd. (SBlFM)
fuhctiohs ih the ihterest of the ihvestors ahd ih accordahce of the Securities ahd Exchahge Board of lhdia (Mutual Fuhds) Fegulatiohs, 1996, the
provisiohs of the Trust Deed ahd the Scheme lhformatioh Documeht of the respective schemes. From the ihformatioh provided to the Trustee ahd the
reviews the Trustee has uhdertakeh, the Trustee believes SBlFM has operated ih the ihterest of the Uhit holders.
The settlor is hot respohsible or liable for ahy loss or shortfall resultihg from the operatioh of the Schemes beyohd the ihitial cohtributioh of Fs 5 lacs
made by it towards settihg of SBl Mutual Fuhd.
ACKNOWLEDGEMENT
The Directors take this opportuhity to express their gratitude for the cohtihued support ahd co-operatioh extehded by the State Bahk of lhdia, AMUNDl,
the Fegistrars 8 Trahsfer Agehts, the Custodiahs, the multiple bahks dealihg with SBl Mutual Fuhd both for collectiohs as well as paymehts, Goverhmeht
Agehcies, Auditors, SEBl, AMFl, the Board of Directors of SBl Fuhds Mahagemeht Frivate Limited, market ihtermediaries ahd the large body of ihvestors
ih various schemes of the Fuhd.
For ahd oh behalf of the Board of Directors
SBI MutuaI Fund Trustee Company Pvt. Ltd.
Sd/-
Flace : Mumbai T. L. PaIani Kumar
Date : Juhe 4, 2013 (Director)
FINANCIAL STATEMENTS ~ MARCH 31, 2013 TOGETHER WITH AUDITOR'S REPORT
To the Board of Directors of
SBI MUTUAL FUND TRUSTEE COMPANY PRIVATE LIMITED - SBI MAGNUM SECTOR FUNDS UMBRELLA
1. We have audited the attached Balahce Sheet of SBI Magnum Sector Funds UmbreIIa, (the Scheme) of the SBl Mutual Fuhd (the Fuhd) as at March
31, 2013, the Fevehue Accouht ahd Cash Flow Statemeht for the year ehded oh that date ahhexed thereto. These fihahcial statemehts are the
respohsibility of the mahagemehts of the Trustees ahd the Asset Mahagemeht Compahies. Our respohsibility is to express ah opihioh oh these
fihahcial statemehts based oh our audit.
2. We cohducted our audit ih accordahce with geherally accepted auditihg stahdards ih lhdia. Those stahdards require that we plah ahd perform the
audit to obtaih reasohable assurahce about whether the fihahcial statemehts are free of material misstatemehts. Ah audit ihcludes examihihg, oh
a test basis, evidehce supportihg the amouhts ahd disclosures ih the fihahcial statemehts. Ah audit also ihcludes assessihg the accouhtihg
prihciples used ahd sighificaht estimates made by mahagemeht, as well as evaluatihg the overall fihahcial statemeht presehtatioh. We believe that
our audit provides a reasohable basis for our opihioh.
3. We report that:
i) We have obtaihed all ihformatioh ahd explahatiohs, which, to the best of our khowledge ahd belief were hecessary for the purpose of our
audit.
ii) The Balahce Sheet ahd the Fevehue Accouht dealt with by this report are ih agreemeht with the books of accouhts of the scheme ahd are ih
accordahce with the accouhtihg policies ahd stahdards as specified ih Nihth schedule to the Securities ahd Exchahge Board of lhdia (Mutual
Fuhds) Fegulatiohs, 1996.
iii) lh our opihioh, valuatioh method for Noh Traded Securities, adopted by the scheme are fair ahd reasohable.
iv) lh our opihioh ahd to the best of our ihformatioh ahd accordihg to the explahatioh giveh to us, the said accouhts read together with the hotes
thereoh, gives a true ahd fair view ih cohformity with the accouhtihg prihciples geherally accepted ih lhdia:
a. lh case of the Balahce Sheet, of the state of affairs of the Scheme as at March 31, 2013;
b. lh case of Fevehue Accouht, of the surplus of the scheme for the year ehded oh March 31, 2013; ahd
c. lh the case of Cash Flow Statemeht, of the cash flow of the scheme for the year ehded oh March 31, 2013.
For Chandabhoy Jassoobhoy
Chartered Accouhtahts
Firm Fegh. No.: 101647W
Flace : Mumbai Samir M. Chinoy
Date : Juhe 4, 2013 (Farther)
Membership No.: F 40853
NOTES TO ACCOUNTS - ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR / PERIOD
ENDED 31ST MARCH 2013
Amount in ` `` `` in Lakhs unIess otherwise stated
1 Investments :-
1.1 The ihvestmehts of the Scheme are held ih the custody of the Fuhd's custodiah HDFC Bahk Ltd. lhvestmehts are registered ih the hame of
the scheme except where dispute exist or where the delivery has hot become due.
1.2 Opeh Fositioh of derivatives (outstahdihg market value 8 to Net Assets as of the Year ehd).
Options As at 31st March 2013 As at 31st March 2012
Market VaIue % to Net Assets Market VaIue % to Net Assets
MSFU -FMCG Nil Nil Nil Nil
MSFU -IT Nil Nil Nil Nil
MSFU- PHARMA Nil Nil Nil Nil
MSFU -CONTRA Nil Nil Nil Nil
MSFU -EBF 3,549.60 2.88 6,122.62 11.19
1.3 Disclosure ih accordahce with SEBl Circular No. Cir/lMD/DF/11/2010 dated August 18, 2010:
i. Hedgihg Fositiohs through Futures :
Options As on UnderIying Long/Short Future Price Current Price Margin
when Purchased of the Contract Maintained
(In Lakhs)
MSFU-FMCG 31-03-2013 Nil Nil Nil Nil Nil
31-03-2012 Nil Nil Nil Nil Nil
MSFU -IT 31-03-2013 Nil Nil Nil Nil Nil
MSFU-PHARMA 31-03-2013 Nil Nil Nil Nil Nil
MSFU -CONTRA 31-03-2013 Nil Nil Nil Nil Nil
MSFU -EBF 31-03-2013 Nil Nil Nil Nil Nil
Total exposure due to futures(hedgihg positiohs)as a 0.0 age of het assets
The followihg hedgihg trahsactiohs through futures have beeh squared off/expired :
MSFU-FMCG- NIL
MSFU -IT - NIL
MSFU-PHARMA- NIL
MSFU -CONTRA - NIL
MSFU -EBF
For the period 01-04-2012 to 01-04-2011 to
31-03-2013 31-03-2012
Total Number of cohtracts where futures were bought 850.00 Nil
Total Number of cohtracts where futures were sold 850.00 Nil
Gross Notiohal Value of cohtracts where futures were bought (ih `) 25,69,85,635.00 Nil
Gross Notiohal Value of cohtracts where futures were sold (ih `) 21,36,45,834.00 Nil
Net Frofit/Loss value oh all cohtracts combihed (ih `) (4,33,39,801.00) Nil
Excludihg brokerage oh derivatives
ii. Other thah hedgihg Fositiohs through Futures:
Options As on UnderIying Long/Short Future Price Current Price Margin
when Purchased of the Contract Maintained
(In Lakhs)
MSFU-FMCG 31-03-2013 Nil Nil Nil Nil Nil
MSFU -IT 31-03-2013 Nil Nil Nil Nil Nil
MSFU-PHARMA 31-03-2013 Nil Nil Nil Nil Nil
MSFU -CONTRA 31-03-2013 Nil Nil Nil Nil Nil
MSFU -EBF 31-03-2013 State Bahk of lhdia Lohg 2,052.01 2,088.00 556.58
Total exposure due to futures(hoh hedgihg positiohs)as a 2.88age of het assets
31-03-2012 Dr. Feddy's Lohg 1,695.35 1,780.40 360.85
Laboratories Ltd.
Hihdustah Lohg 304.95 306.80 180.25
Fetroleum
Corporatioh Ltd.
Uhited Spirits Ltd. Lohg 600.57 613.25 439.03
Zee Ehtertaihmeht Lohg 125.06 128.30 172.08
Ehterprises Ltd.
Total exposure due to futures(hoh hedgihg positiohs)as a 11.19age of het assets
The followihg hedgihg trahsactiohs through futures have beeh squared off/expired :
MSFU-FMCG- NIL
MSFU -IT - NIL
MSFU-PHARMA- NIL
MSFU -CONTRA- NIL
MSFU -EBF
For the period 01-04-2012 to 01-04-2011 to
31-03-2013 31-03-2012
Total Number of cohtracts where futures were bought 25,710.00 11,998.00
Total Number of cohtracts where futures were sold 28,652.00 12,983.00
Gross Notiohal Value of cohtracts where futures were bought (ih `) 7,32,11,94,964.75 299,68,99,295.56
Gross Notiohal Value of cohtracts where futures were sold (ih `) 7,26,84,44,367.20 316,07,74,655.66
Net Frofit/Loss value oh all cohtracts combihed (ih `) 71,96,909.31 (84,84,314.90)
ParticuIars As at 31
st
March 2013 As at 31
st
March 2012
Hedgihg Fositiohs through Fut Optiohs Nil Nil
Other thah Hedgihg Fositiohs through Optiohs Nil Nil
Hedgihg Fositioh through swaps Nil Nil
1.4 lhvestmeht ih Spohsors / Associates ahd Group Compahies by all schemes.
MSFU - CONTRA
Issuer and instrument Under this scheme AII schemes of the Fund
As at 31-03-13 As at 31-03-12 As at 31-03-13 As at 31-03-12
Equity shares of State Bahk of lhdia 12,229.23 10,684.50 41,043.95 32,534.48
Noh Cohvertible Debehtures of State Bahk of lhdia Nil Nil 440.95 426.10
TotaI 12,229.23 10,684.50 41,484.90 32,960.58
MSFU - FMCG, MSFU - PHARMA, MSFU- IT, MSFU - EBF
Issuer and instrument Under this scheme AII schemes of the Fund
As at 31-03-13 As at 31-03-12 As at 31-03-13 As at 31-03-12
Equity shares of State Bahk of lhdia Nil Nil 41,043.95 32,534.48
Noh Cohvertible Debehtures of State Bahk of lhdia Nil Nil 440.95 426.10
TotaI NiI NiI 41,484.90 32,960.58
1.5 Opeh positioh of Securities Borrowed ahd /or Lehd by the scheme : NlL (Frevious Year : NlL)
1.6 Details of NFA: Aggregate market value ahd provisioh thereof.
Investment category As at 31st March 2013 As at 31st March 2012
Outstanding Provision Made Book VaIue Outstanding Provision Made Book VaIue
- Nil Nil Nil Nil Nil Nil
1.7 Aggregate Uhrealised Gaih / Loss as at the ehd of the Fihahcial Year / Feriod ahd percehtage to het assets.
Amount % to Net Assets Amount % to Net Assets
MSFU -FMCG 2,964.50 15.66 1,141.15 15.97
MSFU -IT 1,081.76 25.58 1,150.17 26.77
MSFU-PHARMA 902.84 12.86 856.29 20.72
MSFU -CONTRA 10,199.24 4.31 4,370.05 1.58
MSFU -EBF 4,709.88 3.82 3,751.01 6.86
1.8 Aggregate Value of Furchase ahd Sale with Fercehtage to average het assets.
Options Current Year Previous Year
Purchase % to Avg SaIe % to Avg Purchase % to Avg SaIe % to Avg
DaiIy Net DaiIy Net DaiIy Net DaiIy Net
Assets VaIue Assets VaIue Assets VaIue Assets VaIue
MSFU-FMCG 16,246.36 125.93 8,350.09 64.72 7,649.88 134.48 5,465.42 96.08
MSFU-IT 2,312.39 57.68 2,959.98 73.83 2,133.54 50.11 2,625.30 61.66
MSFU-PHARMA 6,017.37 109.32 4,262.40 77.44 1,782.26 43.54 1,882.17 45.98
MSFU- CONTRA 2,70,950.99 102.91 3,43,549.32 130.49 578,926.24 204.11 599,651.15 211.42
MSFU-EBF 1,59,917.14 180.78 1,00,936.81 114.11 62,634.40 143.47 54,381.06 124.56
1.9 Noh-Traded securities ih the portfolio :
Market VaIue % to Net Assets Market VaIue % to Net Assets
VaIue VaIue
MSFU -FMCG Nil Nil Nil Nil
MSFU -IT Nil Nil 0.00 0.00
MSFU -PHARMA Nil Nil Nil Nil
MSFU -CONTRA Nil Nil 6,779.46 2.45
MSFU -EBF Nil Nil Nil Nil
2. DetaiIs of Transaction with Associates under reguIation 25(8).
a. Brokerage Faid to Associates/Felated Farties/ Group Compahies of Spohsor/AMC by all schemes
Segment Name of ReIated Party Nature of Period VaIue of Transaction and % Brokerage % of TotaI
ReIationship Covered of TotaI VaIue of Transactions Brokerage
% %
Equity
SBlCAF Securities Ltd. Group Compahy Curreht Year 87,352.70 3.40 120.90 3.52
CLSA lhdia Ltd. Group Compahy Curreht Year 1,01,134.30 3.94 145.25 4.22
Futures
SBlCAF Securities Ltd. Group Compahy Curreht Year 3,096.35 0.76 0.99 0.03
Options
CLSA lhdia Ltd. Group Compahy Curreht Year 1,244.25 0.31 0.58 0.02
Debt No Trahsactioh Executed Through Felated Farty
Segment Name of ReIated Party Nature of Period VaIue of Transaction and % Brokerage % of TotaI
ReIationship Covered of TotaI VaIue of Transactions Brokerage
% %
Equity
SBlCAF Securities Ltd. Group Compahy Frevious Year 1,24,342.18 4.05 207.97 4.07
CLSA lhdia Ltd. Group Compahy Frevious Year 126,969.99 4.14 229.60 4.50
Futures
SBlCAF Securities Ltd. Group Compahy Frevious Year 29.11 0.01 0.01 0.01
Options
CLSA lhdia Ltd. Group Compahy Frevious Year 413.34 0.12 0.12 0.11
Debt No Trahsactioh Executed Through Felated Farty
b. Commissioh Faid to Associates/Felated Farties/ Group Compahies of Spohsor/AMC by all schemes
Name of ReIated Party Nature of Period Business Given and %of Commission paid %
ReIation Covered TotaI Business Received of TotaI Commission
paid by the Fund
% %
SBl DFHl Ltd. Group Compahy Curreht Year 2,140.03 0.01 0.00 0.00
SBlCAF Securities Ltd. Group Compahy Curreht Year 8,04,793.18 1.96 21.10 0.12
State Bahk of Bikaher 8 Jaipur Group Compahy Curreht Year 51,291.21 0.12 35.39 0.20
State Bahk of Hyderabad Group Compahy Curreht Year 1,84,654.43 0.45 37.59 0.22
State Bahk of lhdia Spohsor Curreht Year 32,34,951.20 7.86 3,402.23 19.47
State Bahk of Mysore Group Compahy Curreht Year 2,44,266.44 0.59 95.69 0.55
State Bahk of Fatiala Group Compahy Curreht Year 4,02,138.67 0.98 159.63 0.91
State Bahk of Travahcore Group Compahy Curreht Year 89,885.76 0.22 93.96 0.54
Malwa Gramih Bahk Associate Curreht Year 31.05 0.00 0.00 0.00
Uttarahchal Gramih Bahk Associate Curreht Year - - - -
Chattisgarh Gramih Bahk Associate Curreht Year 21.19 0.00 0.26 0.00
Vahahchal Gramih Bahk Associate Curreht Year 2.10 0.00 0.00 0.00
TotaI 50,14,175.26 12.18 3,845.85 22.01
Name of ReIated Party Nature of Period Business Given and %of Commission paid %
ReIation Covered TotaI Business Received of TotaI Commission
paid by the Fund
% %
SBl DFHl Ltd. Group Compahy Frevious Year 10,350.18 0.03 0.35 0.00
SBlCAF Securities Ltd. Group Compahy Frevious Year 2,82,997.55 0.77 20.22 0.14
State Bahk of Bikaher 8 Jaipur Group Compahy Frevious Year 36,671.84 0.10 43.08 0.30
State Bahk of Hyderabad Group Compahy Frevious Year 5,33,699.43 1.46 56.65 0.40
State Bahk of lhdia Spohsor Frevious Year 40,79,648.40 11.14 2,757.83 19.36
State Bahk of Mysore Group Compahy Frevious Year 2,50,560.17 0.68 47.59 0.33
State Bahk of Fatiala Group Compahy Frevious Year 5,88,104.52 1.61 109.58 0.77
State Bahk of Travahcore Group Compahy Frevious Year 1,27,216.43 0.35 96.34 0.68
Malwa Gramih Bahk Associate Frevious Year 0.15 0.00 0.21 0.00
Uttarahchal Gramih Bahk Associate Frevious Year 0.00 0.00 0.00 0.00
Chattisgarh Gramih Bahk Associate Frevious Year 68.68 0.00 0.24 0.00
Vahchal Gramih Bahk Associate Frevious Year 0.00 0.00 0.01 0.00
TotaI 59,09,317.36 16.13 3,132.10 21.99
0.00 lhdicate amouht less thah ` 500
ihdicate Associate as per SEBl Fegulatiohs
c. The trahsactiohs ehtered ihto durihg the year by the scheme with the related parties are as uhder:
MSFU -FMCG
Type of Transaction Name of ReIated Party Current Year Previous Year
Bahk Charges State Bahk of Bikaher 8 Jaipur 0.01 0.01
State Bahk of Hyderabad 0.04 0.02
State Bahk of lhdia 3.57 1.65
State Bahk of Mysore 0.01 0.01
State Bahk of Fatiala 0.42 0.14
State Bahk of Travahcore 0.29 0.00
Mahagemeht Fees SBl Fuhds Mahagemeht Fvt. Ltd. 139.67 71.11
Other Operatihg Charges Clearihg Corporatioh of lhdia Ltd. 0.07 0.06
Trusteeship Fee SBl Mutual Fuhd Trustee Compahy Fvt. Ltd. 1.29 0.57
Brokerage oh lssue of Uhits SBlCAF Securities Ltd. 0.35 0.10
State Bahk of Bikaher 8 Jaipur 0.03 0.03
Chhattisgarh Gramih Bahk 0.00 0.00
Brokerage oh lhvestmehts CLSA lhdia Ltd 1.00 0.55
SBlCAF Securities Ltd. 0.27 0.01
lhterest Feceived State Bahk of lhdia 1.62 Nil
MSFU -IT
Brokerage oh lhvestmehts SBlCAF Securities Ltd. 0.19 0.14
CLSA lhdia Limited 0.01 Nil
MSFU -PHARMA
MSFU -CONTRA
Dividehd Faid Vahahchal Gramih Bahk Nil 3.83
Vahahchal Gramih Bahk- Dumka Nil 18.06
Dividehd Feceived State Bahk of lhdia 165.55 30.08
Mahagemeht Fees SBl Fuhds Mahagemeht Fvt. Ltd. 2,920.43 2,099.90
lssue/Feissue of Uhits (lh Lakhs) Vahahchal Gramih Bahk- Dumka Nil 2.76
Sale of Securities State Bahk of lhdia Nil 7,971.10
State Bahk of Fatiala Nil 996.37
State Bahk of Hyderabad 3,387.87 Nil
Brokerage oh lssue of Uhits SBl DFHl Ltd. Nil 0.01
SBlCAF Securities Ltd. 0.68 1.07
Malwa Gramih Bahk Nil 0.00
Uttarahchal Gramih Bahk Nil 0.00
Vahahchal Gramih Bahk Nil 0.00
CLSA lhdia Ltd. 28.11 77.24
MSFU -EBF
Furchase of Securities State Bahk of Fatiala Nil 1,995.35
Brokerage oh lssue of Uhits State Bahk of Bikaher 8 Jaipur 0.94 0.67
SBlCAF Securities Ltd. 1.58 Nil
Malwa Gramih Bahk 0.00 Nil
Vahahchal Gramih Bahk 0.00 Nil
SBl Capital Markets Ltd Nil 0.71
CLSA lhdia Ltd. 11.03 3.60
lssue/Feissue of Uhits (lh Lakhs) Vahahchal Gramih Bahk Nil 4.20
Dividehd Faid Vahahchal Gramih Bahk Nil 10.51
0.00 lhdicate amouht less thah ` 500
3. Large Holdihgs ih the Scheme (i.e. ih excess of 25 of the het assets) : NlL ( Frevious year : NlL )
4. Uhit Capital movemeht durihg the year ehded / period ehded. Flah wise details of movemeht ih uhits - opehihg, subscriptioh, redemptioh, closihg.
lhdicate plahwise face value of uhits.
MSFU-IT
Current Year Previous Year
ReguIar PIan No. of Units in Lakhs No. of Units in Lakhs
Dividend Growth TotaI Dividend Growth TotaI
Face Value 10.00 10.00 10.00 N.A.
Opehihg 183.74 - 183.74 208.16 N.A. 208.16
Subscriptioh 24.69 2.26 26.95 19.60 N.A. 19.60
Dividehd Feihvestmeht - - - 0.00 N.A. 0.00
Fedemptioh 52.75 0.68 53.43 44.02 N.A. 44.02
CIosing 155.68 1.58 157.25 183.74 N.A. 183.74
Direct PIan No. of Units in Lakhs No. of Units in Lakhs
Face Value 10.00 10.00 N.A. N.A.
Opehihg - - - N.A. N.A. N.A.
Subscriptioh 0.65 0.98 1.62 N.A. N.A. N.A.
Dividehd Feihvestmeht - - - N.A. N.A. N.A.
Fedemptioh 0.26 0.05 0.31 N.A. N.A. N.A.
CIosing 0.38 0.93 1.32 N.A. N.A. N.A.
MSFU-PHARMA
Face Value 10.00 10.00 10.00 10.00
Opehihg 71.35 27.42 98.77 81.65 22.11 103.76
Subscriptioh 17.04 48.32 65.37 6.82 14.19 21.01
Dividehd Feihvestmeht - - - (0.00) - (0.00)
Fedemptioh 15.82 17.56 33.37 17.12 8.88 26.00
CIosing 72.58 58.18 130.76 71.35 27.42 98.77
CIosing 0.31 1.74 2.05 N.A. N.A. N.A.
MSFU-FMCG
Face Value 10.00 10.00 10.00 10.00
Opehihg 192.87 - 192.87 123.14 - -
Subscriptioh 267.47 28.85 296.33 122.84 - -
Dividehd Feihvestmeht - - - - -
Fedemptioh 120.45 0.50 120.95 53.11 - -
CIosing 339.89 28.35 368.24 192.87 - 192.87
CIosing 3.49 9.15 12.64 N.A. N.A. N.A.
MSFU-CONTRA
Face Value 10.00 10.00 10.00 10.00
Opehihg 5,967.12 3,400.03 9,367.15 5,821.72 3,432.29 9,254.01
Subscriptioh 524.86 530.88 1,055.74 888 867 1,755
Dividehd Feihvestmeht 320.17 - 320.17 502 - 502
Fedemptioh 1,676.79 1,255.23 2,932.02 1,245 899 2,144
CIosing 5,135.36 2,675.68 7,811.04 5,967.12 3,400.03 9,367.15
CIosing 7.32 5.02 12.34 N.A. N.A. N.A.
MSFU-EBF
Face Value 10.00 10.00 10.00 10.00
Opehihg 1,698.40 680.66 2,379.06 1,299.35 358.08 1,657.43
Subscriptioh 943.11 1,236.85 2,179.96 569.80 554.66 1,124.47
Dividehd Feihvestmeht 0.11 0.00 0.11 115.34 - 115.34
Fedemptioh 466.60 373.43 840.03 286.09 232.09 518.18
CIosing 2,175.02 1,544.08 3,719.10 1,698.40 680.66 2,379.06
CIosing 18.64 44.61 63.25 N.A. N.A. N.A.
5. Expehses other thah mahagemeht fees are disclosed ihclusive of service tax.
6. lh compliahce with the SEBl Circular No. ClF/lMD/DF/21/2012 dated September 13, 2012 ahd SEBl (Mutual Fuhds) (Secohd Amehdmeht)
Fegulatioh 2012:-
i) A Direct Flah havihg lower expehse ratio has beeh ihtroduced for processihg applicatiohs hot routed through a distributor. Such Direct Flah
has a separate NAV.
ii) Service Tax oh Mahagemeht Fees is accrued ih additioh to the maximum limit of Total Expehse Fatio (TEF) as per SEBl regulatioh 52.
iii) Ah additiohal expehse hot exceedihg of 0.30 per ceht of daily het assets is accrued over ahd above the maximum limit as per Fegulatioh 52
ih case of hew ihflows comihg from beyohd top 15 cities as specified by SEBl.
iv) A separate expehse of 0.02 per ceht oh daily het assets has beeh accrued for ihvestor educatioh ahd awarehess ihitiatives.
7. Figures of the previous year have beeh regrouped, wherever hecessary to cohfirm with the curreht year's figures.
8. Cohtihgeht liability ih respect of Uhderwritihg Commitmehts, Uhcalled liability oh partly paid shares ahd other commitmehts are Nil (Frevious Year
Nil).
9. The hame of the Scheme has beeh chahged w.e.f. 25th April, 2012 as SBl Maghum Sector Fuhds Umbrella (Freviously khowh as Maghum Sector
Fuhds Umbrella)
KEY STATISTICS FOR THE YEAR / PERIOD ENDED 31/03/2013
Current Previous
Year / Period Year / Period
ended 31/03/2013 ended 31/03/2012
SBI MAGNUM SECTOR FUNDS UMBRELLA - FMCG FUND
1. NAV per uhit (`):
Opeh
Growth N.A. N.A.
Dividehd 37.05 29.24
Direct Growth N.A. N.A.
Direct Dividehd N.A. N.A.
High
Growth 50.6500 N.A.
Dividehd 51.0100 37.05
Direct Growth 50.9400 N.A.
Direct Dividehd 50.6100 N.A.
Low
Growth 48.0005 N.A.
Dividehd 37.4200 29.56
Ehd
Growth 49.7994 N.A.
Dividehd 49.6973 37.05
2. Closihg Assets Uhder Mahagemeht (` ih Lakhs)
Ehd 18936.32 7145.02
Average (AAuM) 12901.03 5688.50
3. Gross ihcome as of AAuM
1
13.56 14.77
4. Expehse Fatio:
a. TotaI Expense as % of AAuM (pIan wise) ### 2.72 2.50
b. Management Fee as % of AAuM (pIan wise) 1.09 1.25
5. Net lhcome as a percehtage of AAuM
2
10.84 12.27
6. Fortfolio turhover ratio
4
0.62 0.94
7. Total Dividehd per uhit distributed durihg the year / period (plah wise) NlL NlL
8. Returns:
a. Last One Year
Scheme
Dividehd 34.1115 26.6300
Growth N.A. N.A.
Benchmark-SP BSE -FMCG@
Dividehd 31.7396 24.9400
Growth N.A. N.A.
b. Since Inception
Scheme
Dividehd 13.3041 13.5700
Growth (1.2879) N.A.
Direct Growth (0.6011) N.A.
Direct Dividehd (1.2462) N.A.
Benchmark-SP BSE-FMCG@
Dividehd 11.9080 10.3100
Growth (0.4484) N.A.
1. Gross ihcome = amouht agaihst (A) ih the Fevehue accouht i.e. lhcome.
2. Net ihcome = amouht agaihst (C) ih the Fevehue accouht i.e. NET FEALlSED GAlNS / (LOSSES) FOF THE YEAF / FEFlOD
3. AAuM=Average daily het assets
4. Fortfolio Turhover = Lower of sales or purchase divided by the Average AuM for the year/period.
5 w.e.f 12th February, 2013 NAV's are published ih 4 decimals
### Total Expehditure does hot ihclude loss oh sale/redemptioh of ihvestmehts, loss oh ihter-scheme trahfer/sale of ihvestmehts, het chahge
ih uhrealised depreciatioh ih value of ihvestmehts, deferred revehue expehditure amortised ahd Frovisioh for Doubtful Debt, lhcome, Deposits.
@ Behchmark hame has beeh chahged from BSE FMCG to S8F BSE FMCG w.e.f. 14th March, 2013.
Current Previous
ended 31/03/2013 ended 31/03/2012
SBI MAGNUM SECTOR FUNDS UMBRELLA - IT FUND
Opeh
Growth N.A. N.A.
High
Growth 27.3557 N.A.
Dividehd 27.3524 24.57
Low
Growth 22.9100 N.A.
Dividehd 20.4700 18.22
Ehd
Growth 26.7041 N.A.
Dividehd 26.6993 23.39
Ehd 4233.87 4,297.26
Average (AAuM) 4008.93 4,257.40
1
17.63 21.78
4. Expehse Fatio:
2
15.04 19.65
4
0.57 0.50
7. Total Dividehd per uhit distributed durihg the year / period (plah wise)
Dividehd NlL NlL
8. Returns:
a. Last One Year
Scheme
Dividehd 14.4365 (3.15)
Growth N.A. N.A.
Benchmark - SP BSE IT@
Dividehd 13.2129 N.A.
Growth N.A. N.A.
Benchmark - BSE - IT N.A. (7.12)
b. Since Inception
Scheme
Dividehd 12.0855 12.36
Growth 15.3482 N.A.
Benchmark - SP BSE IT@
Growth 18.5013 N.A.
Benchmark - BSE - IT N.A. 12.43
ih uhrealised depreciatioh ih value of ihvestmehts, deferred revehue expehditure amortised ahd Frovisioh for Doubtful Debt, lhcome, Deposits.
@ Behchmark hame has beeh chahged from BSE lT to S8F BSE lT w.e.f. 14th March, 2013.
Current Previous
ended 31/03/2013 ended 31/03/2012
SBI MAGNUM SECTOR FUNDS UMBRELLA-PHARMA
Opeh
Growth 47.84 43.62
High
Dividehd 50.4600 39.72
Growth 61.0400 48.06
Low
Dividehd 39.0900 34.85
Growth 47.2900 42.17
Ehd
Dividehd 48.2861 39.54
Growth 58.4110 47.84
Ehd 7,019.53 4132.76
Average (AAuM) 5504.28 4093.44
1
19.62 9.36
4. Expehse Fatio:
2
16.87 7.02
4
0.75 0.43
7. Total Dividehd per uhit distributed durihg the year / period (plah wise) NlL NlL
8. Returns:
a. Last One Year
Scheme
Growth 22.2919 9.66
Direct Growth N.A. N.A
Direct Dividehd N.A. N.A
Benchmark - BSE - HC
Growth N.A. 10.0000
Dividehd NA. 10.0000
Benchmark -SP BSE HC@
Growth 20.8633 N.A.
b. Since Inception
Scheme
Growth 12.5048 11.2200
Dividehd 13.4062 15.4000
Direct Growth (2.8144) N.A
Current Previous
ended 31/03/2013 ended 31/03/2012
Benchmark - BSE - HC
Growth N.A. 11.2500
Dividehd N.A. 13.4000
Benchmark - SP BSE HC@
Growth 12.3709 N.A.
ih uhrealised depreciatioh ih value of ihvestmehts, deferred revehue expehditure amortised ahd Frovisioh for Doubtful Debt, lhcome, Deposits
@ Behchmark hame has beeh chahged from BSE HC to S8F BSE HC w.e.f. 14th March, 2013.
Current Previous
ended 31/03/2013 ended 31/03/2012
SBI MAGNUM SECTOR FUNDS UMBRELLA-CONTRA
Opeh
Growth 51.62 55.57
High
Growth 60.8600 57.31
Dividehd 18.3000 22.85
Low
Growth 48.1500 43.12
Dividehd 15.8200 14.16
Ehd
Growth 56.6185 51.62
Dividehd 16.5524 16.95
Ehd 236901.51 276663.93
Average (AAuM) 263285.72 283629.37
1
9.64 2.81
4. Expehse Fatio:
2
7.60 0.95
4
0.85 1.51
7. Total Dividehd per uhit distributed durihg the year / period (plah wise)
Dividehd Optioh 2.00 3.50
8. Returns:
a. Last One Year
Scheme
Growth 9.6409 (7.16)
Dividehd 9.3703 (7.15)
Benchmark - BSE 100
Growth N.A. (9.23)
Dividehd N.A. (9.23)
Benchmark - SP BSE 100@
Growth 6.8399 N.A.
b. Since Inception
Scheme
Growth 16.9895 22.65
Dividehd 13.4597 18.09
Current Previous
ended 31/03/2013 ended 31/03/2012
Benchmark - BSE 100
Growth N.A. 12.58
Dividehd N.A. 15.25
Benchmark - SP BSE 100@
Growth 14.1459 N.A.
@ Behchmark hame has beeh chahged from BSE 100 to S8F BSE 100 w.e.f. 14th March, 2013.
Current Previous
ended 31/03/2013 ended 31/03/2012
SBI MAGNUM SECTOR FUNDS UMBRELLA - EMERGING BUSINESS FUND
Opeh
Growth Optioh 44.54 39.64
High
Low
Ehd
Ehd 123,465.27 54,716.84
Average (AAuM) 88,457.60 43,657.33
1
13.44 8.85
4. Expehse Fatio:
2
11.1 6.57
4
1.7 1.61
7. Total Dividehd per uhit distributed durihg the year / period (plah wise) NlL 2.50
8. Returns:
a. Last One Year
Scheme
Growth 20.6913 12.35
Direct Growth N.A N.A.
Benchmark - BSE 500
Growth N.A. (9.11)
Direct Growth N.A N.A.
Benchmark -SP BSE 500@
Growth 4.8128 N.A.
b. Since Inception
Scheme
Growth 21.7679 21.91
Benchmark - BSE 500
Growth N.A. 15.18
Benchmark -SP BSE 500@
Growth 14.4054 N.A.
@ Behchmark hame has beeh chahged from BSE 500 to S8F BSE 500 w.e.f. 14th March, 2013.

SBI Magnum Sector Funds Umbrella

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SBI MAGNUM SECTOR FUNDS UMBRELLA

Abridged Annual Report 2012-13 1

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