4/10/2003

3/27/2003

3/13/2003

2/27/2003

2/13/2003

1/30/2003

1/16/2003

1/2/2003

12/19/2002

12/5/2002

11/21/2002

11/7/2002

10/24/2002

10/10/2002

9/26/2002

9/12/2002

TFIFST-7d

8/29/2002

8/15/2002

8/1/2002

7/18/2002

7/4/2002

TMA-7d

6/20/2002

6/6/2002

5/23/2002

5/9/2002

4/25/2002

4/11/2002

3/28/2002

3/14/2002

2/28/2002

2/14/2002

Comparison of 7-day rolling returns - TMA v/s STIP

16%

14%

12%

10%

8%

6%
TILF-7d

4%

-2%

-4%

-6%
2-Jul-03

18-Jun-03

4-Jun-03

21-May-03

7-May-03

23-Apr-03

9-Apr-03

26-Mar-03

12-Mar-03

26-Feb-03

12-Feb-03

29-Jan-03

15-Jan-03

1-Jan-03

18-Dec-02

4-Dec-02

20-Nov-02

TFIFST-30d

6-Nov-02

23-Oct-02

9-Oct-02

25-Sep-02

11-Sep-02

STIP-30d

28-Aug-02

14-Aug-02

31-Jul-02

17-Jul-02

TMA-30d

3-Jul-02

19-Jun-02

5-Jun-02

22-May-02

8-May-02

24-Apr-02

10-Apr-02

27-Mar-02

13-Mar-02

Comparison of 30-day rolling returns - TMA v/s STIP

14%

12%

10%

8%

6%

4%

2%

0%
TILF-30d

7/6/2003

6/22/2003

6/8/2003

5/25/2003

5/11/2003

4/27/2003

4/13/2003

3/30/2003

3/16/2003

3/2/2003

2/16/2003

2/2/2003

1/19/2003

1/5/2003

TFIF-ST-90d

12/22/2002

12/8/2002

11/24/2002

11/10/2002

10/27/2002

STIP-90d

10/13/2002

9/29/2002

9/15/2002

9/1/2002

TMA-90d

8/18/2002

8/4/2002

7/21/2002

7/7/2002

6/23/2002

6/9/2002

5/26/2002

5/12/2002

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

TILF-90d

0.00%

6/25/2002

6/11/2002
TMA-120d

8/6/2002

7/23/2002

7/9/2002

STIP-120d

10/1/2002

9/17/2002

9/3/2002

8/20/2002

TFIF-ST-120d

11/26/2002

11/12/2002

10/29/2002

10/15/2002

TILF-120d

7/8/2003

6/24/2003

6/10/2003

5/27/2003

5/13/2003

4/29/2003

4/15/2003

4/1/2003

3/18/2003

3/4/2003

2/18/2003

2/4/2003

1/21/2003

1/7/2003

12/24/2002

12/10/2002

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

12%

Rolling return analysis - liquid funds - 180 days rolling

Returns (rolling 180 days)

10%

8%

6%

4%

2%

TMA-180d

STIP-180d

TFIF-ST-180d

TILF-180d

0%

Time

Risk v/s return plot of liquid funds

Period starting 11-Feb-2002 till 6-Feb-2003
14.00%

12.00%

TMA-1d

TILF-1d

TFIF-ST-1d

STIP-1d

10.00%

Risk

8.00%

6.00%

4.00%

2.00%

0.00%
6.00%

6.50%

7.00%

7.50%

Average of 1 day rolling returns

8.00%

8.50%

Risk v/s return of 7 day rolling returns

5.00%
TMA 7d

TILF 7d

TFIF ST 7d

STIP 7d

4.50%

Risk as measured by standard deviation

4.00%

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%
6.00%

6.50%

7.00%

7.50%

Average of 7 day rolling returns

8.00%

8.50%

Risk return analysis of liquid funds over 15 day period

3.50%
TMA 15d

TILF 15d

TFIF ST 15d

STIP 15d

Risk as measured by standard deviation

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%
6.40%

6.60%

6.80%

7.00%
Average of 15 day rolling returns

7.20%

7.40%

7.60%

Risk-return analysis of liquid funds

2.90%
TMA 30d

TILF 30d

TFIF ST 30d

STIP 30d

Risk as measured by standard deviation

2.40%

1.90%

1.40%

0.90%

0.40%
6.00%

6.50%

7.00%

7.50%

Average of 30 day rolling returns

8.00%

8.50%

Risk-return analysis of liquid funds

1.90%
TMA 90d

TILF 90d

TFIF ST 90d

STIP 90d

Risk as measured by standard deviation

1.70%

1.50%

1.30%

1.10%

0.90%

0.70%

0.50%

0.30%
6.50%

6.70%

6.90%

7.10%

7.30%

7.50%

7.70%

Average of 90 day rolling returns

7.90%

8.10%

8.30%

8.50%

Riskreturn plot of liquid funds - 180 days rolling

1.40%
TMA 180d

TILF 180d

TFIF ST 180d

STIP 180d

Risk as measured by standard deviation

1.20%

1.00%

0.80%

0.60%

0.40%

0.20%

0.00%
6.00%

6.50%

7.00%

7.50%
Average reurns

8.00%

8.50%

Fund
TMA-1d
TMA 7d
TMA 15d
TMA 30d
TMA 90d
TMA 180d

Average

STIP-1d
STIP 7d
STIP 15d
STIP 30d
STIP 90d
STIP 180d

6.66%
6.62%
6.69%
6.67%
6.69%
6.75%
6.40%
6.41%
6.47%
6.44%
6.49%
6.57%
6.80%
6.81%
6.86%
6.79%
6.78%
6.82%
8.27%
8.01%
7.49%
8.18%
8.30%
8.33%

Latest date

11-Jul-03

TILF-1d
TILF 7d
TILF 15d
TILF 30d
TILF 90d
TILF 180d
TFIF-ST-1d
TFIF ST 7d
TFIF ST 15d
TFIF ST 30d
TFIF ST 90d
TFIF ST 180d

Max

Min

15.82%
1.64%
11.42%
4.33%
9.68%
5.26%
8.65%
5.33%
7.92%
5.45%
7.72%
5.67%
35.89%
0.00%
11.20%
4.49%
9.36%
5.02%
8.09%
5.18%
7.49%
5.29%
7.38%
5.55%
24.34%
0.00%
15.38%
3.23%
11.51%
4.79%
10.37%
5.56%
8.52%
5.82%
7.69%
5.97%
162.85% -41.66%
27.44% -8.63%
14.20% -5.58%
11.91% -3.27%
10.34%
3.90%
9.97%
6.19%

Std dev Count Count -ve % -ve Max-Min Latest

1.57%
0.98%
0.90%
0.85%
0.77%
0.64%
1.94%
0.99%
0.86%
0.77%
0.70%
0.59%
1.72%
1.02%
0.86%
0.69%
0.59%
0.46%
12.08%
4.75%
3.33%
2.75%
1.80%
1.33%

430
427
420
407
358
280
430
427
420
407
358
280
430
427
420
407
358
280
430
427
420
407
358
280

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
33
29
22
16
0
0

0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
7.67%
6.79%
5.24%
3.93%
0.00%
0.00%

14.18%
7.09%
4.41%
3.32%
2.47%
2.05%
35.89%
6.71%
4.34%
2.91%
2.20%
1.84%
24.34%
12.15%
6.72%
4.81%
2.71%
1.72%
204.51%
36.07%
19.78%
15.18%
6.45%
3.78%

5.68%
5.23%
5.26%
5.34%
5.51%
5.67%
5.04%
5.15%
5.10%
5.24%
5.35%
5.55%
8.29%
6.07%
5.96%
5.99%
6.10%
6.06%
6.75%
5.66%
5.49%
4.62%
7.41%
6.21%

13.9393
13.9418
13.9444
13.9476
13.9498
13.9525
13.9583
13.9619
13.9645
13.9668
13.9694
13.9719
13.9768
13.9792
13.9817
13.9839
13.9864
13.9889

13.9137
13.9212
13.9237
13.9265
13.9308
13.9338
13.9393
13.9418
13.9444
13.9476
13.9498
13.9525
13.9583
13.9619
13.9645
13.9668
13.9694
13.9719