Professional Documents
Culture Documents
Monthly
Market Review
MARCH2015 I SSUE 4 V OLUME 3
Contents
The First Page
Macro Developments
Fixed Income
Equity Markets
Commodities
Currency Markets
Core Schemes
Satellite Schemes
12
Scheme Recommendations
15
Model Portfolio
23
Product Labelling
25
Girish Venkat
Executive Vice - President &
Head- Wealth Management
Macro Developments
USA
The economic data from US remains strong and the Feb
employment data remained strong as it 295k jobs were added. If we
consider the 18k downward revision to Jan payrolls, the 3 month
average job gain has been around 287k, which is one of the highest
since 2009. The job growth was very broad based with private
service sector adding the most, government added 8k jobs and
construction sector added 29k for the month. Unemployment rate
fell to 5.5 per cent and is now close to the US Fed unemployment rate
target of 5.2-5.5 per cent which was the levels before the financial
crisis and the labor force participation rate fell to 62.8 per cent and
has been flat for the past six months. Although employment data
was strong, average hourly earnings was weak as it rose 0.1 per cent
M-o-M after a 0.5 per cent M-o-M in Jan.
U. S Unemployment Rate (%)
11.00
per cent from the year before and the data for Feb is expected to be
bad due to the harsh winter climate and sales will start improving
once the spring starts.
On the inflation front, CPI fell 0.7 per cent in Jan, the third straight
month of decline and the largest monthly drop since Dec08 mainly
on account of fall in gasoline prices. The fall of crude prices since
Sept14 by 50 per cent has led to a major fall in CPI but it is expected
to inch up in Feb as the gasoline prices rose 5.5 per cent during Feb.
The headline numbers remain weak but the underlying indicates
that weakness is due to temporary factors and should bounce back
soon. US Fed target for inflation is at 2 per cent and it will want CPI to
rise to the target levels while the core CPI rose to 0.2 per cent.
Europe
On the macro front, data from the region is pointing towards some
recovery and should be positive as the ECB has embarked on QE to
boost growth.
Percentage Change
10.00
9.00
8.00
7.00
6.00
5.00
1-Jan-07
1-Apr-07
1-Jul-07
1-Oct-07
1-Jan-08
1-Apr-08
1-Jul-08
1-Oct-08
1-Jan-09
1-Apr-09
1-Jul-09
1-Oct-09
1-Jan-10
1-Apr-10
1-Jul-10
1-Oct-10
1-Jan-11
1-Apr-11
1-Jul-11
1-Oct-11
1-Jan-12
1-Apr-12
1-Jul-12
1-Oct-12
1-Jan-13
1-Apr-13
1-Jul-13
1-Oct-13
1-Jan-14
1-Apr-14
1-Jul-14
1-Oct-14
1-Jan-15
4.00
Source: Reuters
Fixed Income
Fixed Income - Global
10 Year Benchmark Yields [%]
Date/
26-FebCountries 2015
13-Feb2015
30-Jan2015
15-Jan- 30-Dec2015
2014
15-Dec2014
US
2.01
2.02
1.68
1.78
2.19
2.12
UK
1.73
1.68
1.33
1.51
1.79
1.80
Japan
0.34
0.42
0.29
0.25
0.33
0.38
Spain
1.28
1.57
1.46
1.59
1.60
1.79
Germany
0.30
0.35
0.31
0.48
0.54
0.63
France
0.52
0.59
0.55
0.67
0.83
0.90
Italy
1.37
1.64
1.65
1.74
1.89
2.00
Brazil
12.65
12.59
11.97
12.16
12.43
12.70
China
3.36
3.40
3.51
3.57
3.65
3.77
India
7.74
7.70
7.69
7.70
7.87
7.84
Source: Reuters
Fixed Income
CPI Rural, Urban and Combined (in %)
Rural
Urban
Combined
11
10
9
8
7
6
5.69
4.89
6.93
5.43
6.13
5.06
45.86
7.54
7.09
10.11
11.53
8.21
8.36
2.38
4.69
3.80
2.16
2.73
3.74
3.41
6.84
6.71
6.97
5.25
5.51
6.15
6.51
6.53
CP
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
Dec-13
Source: CMIE
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Feb-14
Mar-14
Jan-14
Dec-13
Nov-13
-6.00
Oct-13
-4.00
5.11
7.84
5.11
7.84
10.07
Miscellaneous
Housing
3.44
4.11
2.62
3.71
2.98
3.95
28.32
Headline
5.25
4.71
4.96
5.32
5.11
5.00
100.00
Source: CMIE
Source: CMIE
IIP- Sector Wise Growth Rate (%)
Categories
Dec-14
Nov-14
Dec-13
Weight
Sector-Wise
(3.16)
3.88
2.57
14.16%
Manufacturing
2.06
3.14
(1.10)
75.53%
Electricity
4.84
9.97
7.49
Mining
10.32%
100.00%
Basic goods
2.43
7.10
3.00
Capital goods
4.13
6.62
(2.45)
45.68%
8.83%
Intermediate goods
0.06
4.50
5.22
15.69%
29.81%
0.73
(2.09)
(4.64)
(8.99)
(14.46)
(16.36)
8.46%
Consumer non-durables
5.73
6.18
2.80
21.35%
IIP
1.73
3.91
0.11
100.00%
Consumer goods
Consumer durables
Source: CMIE
Equity Markets
Equity - Global
Indices
BEL-20 (Belgium)
Bovespa (Brazil)
CAC 40 (France)
CNX Nifty Index (India)
DAX (Germany)
Dow Jones (USA)
FTSE 100 (UK)
Hang Seng (Hong Kong)
Jakarta Composite (Indonesia)
KLSE Composite (Malaysia)
Madrid General (Spain)
Nasdaq (USA)
Nikkei 225 (Japan)
S&P BSE SENSEX (India)
S&P 500 (U.S.A.)
Seoul Composite (S.Korea)
Shanghai Composite (China)
Straits Times (Singapore)
Swiss Market (Switzerland)
Taiwan Weighted (Taiwan)
Source: ACE MF
CAGR (%)
1 Month
1 Year
5.22
9.97
7.54
1.06
6.61
5.64
2.92
1.29
3.04
2.24
7.71
7.08
6.36
5.49
0.61
1.87
3.11
0.34
7.51
2.78
19.94
9.53
12.33
41.82
17.64
11.10
2.01
8.70
17.97
(0.79)
9.53
15.21
26.66
13.18
39.02
0.29
0.51
9.39
6.36
11.37
Global equity markets continued their good run into Feb as several
factors supported the rally such as ECB announcing its QE program,
a spate of positive economic data flows, reduction of tension in
Ukraine, crude prices continuing to remain low, supportive policy
actions by most central bankers and fears of Greece exiting from
EU receded. Most of the European indices performed well during
the month with Germany, France and Spain being the top gainers
while among the emerging markets Brazil and China were the top
gainers.
US Markets
US Equities posted strong gains during Feb as all the three major
indices rose around 5-6 per cent. Most indices are trading near life
time highs and in Feb, nine of the ten S&P 500 sectors posted gains
indicating a broad based gains. Top sectoral gainers was a mix of
cyclical and defensives such as consumer discretionary,
information technology and materials sectors.
Markets are rising on improving economic fundamentals coupled
with rising investor confidence on US equities. The rally till now has
been driven by improved earnings by its corporates coupled with
the Fed driven liquidity and price earnings expansion. Going ahead
markets may consolidate a bit after rising strongly in Feb as
investors look at when US Fed may hike interest rates and the
outlook very closely.
Some of the important factors which will influence equities in
March and April will be the employment data, the March FOMC
meeting, price of crude oil, domestic economic data and the
global economic and geopolitical conditions. The latest
employment data has been stronger than expectations and
unemployment has fallen to 5.5 per cent now, all eyes will be on
Equity Markets
Indices
CAGR (%)
1 Month
YTD
1 Year
1.06
1.03
0.92
0.95
-0.02
-0.63
4.00
-2.51
-0.64
1.20
7.07
3.72
0.67
-4.51
2.00
-1.25
0.58
0.61
-0.55
4.68
7.48
7.47
7.19
6.83
7.26
5.20
15.14
7.39
5.87
7.91
13.09
-1.70
4.23
-2.12
8.44
-1.51
17.16
6.77
1.62
9.96
41.82
44.23
47.29
48.57
58.61
83.76
71.36
74.55
26.81
46.26
22.23
22.04
66.31
14.95
48.45
46.92
51.39
39.02
74.81
22.11
franchisees. Our top picks are HUL, Marico, Dabur, Pidilite, Asian
Paints and United Spirits.
Financials: Downward trajectory in interest rates has begun which
shall lower the cost of funds for banks and NBFC. Here, we believe
the banks & NBFC having i) high proportion of bulk deposit, ii) high
proportion of fixed rate loan book and iii) the companies having
pricing power to retain the benefit of lower cost of fund shall
benefit the most. Credit growth will remain modest at 12-14 per
cent as economic reforms and policies take a while to revive the
capex cycle. Besides, i) CP rates are far lower at ~8-8.5 per cent
which is used by corporates for borrowing rather than bank loan
and ii) Lower tier 1 ratio of PSU banks would limit their ability to
lend. We expect private banks to grab significant market share
from their PSU counterparts in the years to come. NPAs of private
sector banks continue to remain at manageable levels while for
PSU banks, stress may continue for another couple of quarters.
Overall, we prefer banks and NBFC that are likely to benefit from
fall in interest rate. Yes Bank and Indusind are major beneficiaries.
Within the NBFC space, we prefer HDFC Ltd, Dewan Housing and
Bajaj Finance.
Pharma: Majority of the Pharmaceutical companies have come out
with in line street expectations results in Q3FY15 mainly led by
strong sales growth registered in the domestic formulations after
witnesing a slower growth over the past few quarters due to price
cuts on essential medicines. US formulations business grew at a
slower pace during the quarter primarily on account of delay in
approvals from USFDA, however long term growth prospects are
well intact. Revenue from emerging markets have also shown
steady improvement over past few quarters. US market will
continue to provide significant growth opportunities for Indian
Pharma companies as huge number of ANDA filings are pending for
approvals which also include complex generics (high margin & low
competition drugs). Companies with strong ANDA pipeline pending
with USFDA are tend to perform better in the short to medium term.
Power: Government has got a very strong response for the 1st
round of coal block auction and the 2nd round of auction will begin
this week. The main focus is to revive the ailing sector by getting
the stranded projects on stream. Govt is also focusing on nonconventional sources to generate power and reduce power deficit
and has set a target of renewable energy capacity of 175000 MW
till 2022(100000 MW Solar, 60000 MW Wind, 10000 MW Biomass
and 5000 MW Small Hydro). Overall Power sector had been marred
on account of under recoveries which put stress on their financials
and balance sheet. However, recent government steps and cooling
off of coal prices from their highs are likely to benefit these
companies in medium to long term. The sector is likely to benefit
from the increased clarity on the regulatory hurdle front and
reforms undertaken by the centre. PLF is expected to pick up on
back of improved clarity on fuel linkage.
Commodities
Precious Metals
Gold and silver prices nose-dived during February following
dollar rally and positive economic data from US which led stock
market rally and lured investors away from the yellow metal.
Gold fell by around 5 per cent and silver fell by around 4 per cent
last month.
On the domestic policy front, India, the biggest user of gold after
China, did not touch on any rules over gold import duty in
Budget, which was largely expected by most of the investors.
This led to expectation of dull demand from India.
Looking at overall scenario, the underlying fundamentals are
pointing towards a bearish scenario for gold and hence we
would look to remain on sell side at any bounce in the market
from positional perspective. For short term basis, daily
economic data will pave the way for intraday trading.
As per the recent gold demand numbers released by World Gold
Council, gold demand in 2014 dropped by 4 per cent to 3,923.7
MT. But the demand recovered during 4th quarter from key
consumers: India and China. The 4th quarter demand was
higher by 6 per cent on yearly basis against Q413 demand.
Having suffered weak year-on-year comparisons for much of
2014, jewellery demand rallied to a strong finish, reaching 575 T
in the fourth quarter 1 per cent higher than Q4 2013. The
sector was buoyed by good festival- and wedding-related
demand in India, as well as by the seasonal holiday effect in the
US and UK. Global annual jewellery demand of 2,152.9 T,
although down 10 per cent year-on-year, was above the fiveyear average by a comfortable 5 per cent margin.
From an overall perspective, we expect gold to remain choppy.
Prices will be driven by FOMC comments, dollar movements,
physical demand from China and India. We expect that prices
will remain under pressure as the recent comments from FOMC
member indicated that an interest rate hike is on the cards. Also
with the Greece issue being resolved, now safe haven demand
for gold is reduced for short term. Any rally will likely be short
lived until the safe haven demand for gold resurfaces amidst
geopolitical tension or strong physical demand.
Technical View: Trend is bearish. Prices are having resistance at
26,600 and 26,250 at MCX and at $1,190 at COMEX. Till prices
hold below 26,600 this week we will look to remain on sell side at
any bounce towards 26,250. Breach of 26,600 is important to
take prices up. Breach of 25,950 is important to create fresh
selling positions and this can take prices down towards 25,600.
Silver trend is looking down at MCX and Comex. Silver prices are
likely to take resistance around $16.30 on Comex and 36,500 at
MCX. Any bounce towards 36,200-36,400 can be taken as selling
opportunity. Important support now is at 35,700 for this week
and breach of this level is important to take prices further down
towards 34,600-34,200.
Base Metals
Copper prices traded positively throughout the month of
February 2015, as prices continued their strong recovery after
hitting their 5-1/2 year lows in the month of January 2015. The
recent prices gains remained supported by a series of
Currency Markets
31-Oct-14
28-Nov-14
31-Dec-14
30-Jan-15
27-Feb-15
61.36
1.25
112.30
1.60
0.96
0.88
62.03
1.25
118.61
1.56
0.97
0.85
63.03
1.21
119.68
1.56
0.99
0.82
61.86
1.13
117.44
1.51
0.92
0.78
61.83
1.12
119.51
1.54
0.95
0.78
INR
Euro
JPY
GBP
CHF
AUD
Source: Reuters
USD/INR
3-Jan-11
17-Feb-11
3-Apr-11
18-May-11
2-Jul-11
16-Aug-11
30-Sep-11
14-Nov-11
29-Dec-11
12-Feb-12
28-Mar-12
12-May-12
26-Jun-12
10-Aug-12
24-Sep-12
8-Nov-12
23-Dec-12
6-Feb-13
23-Mar-13
7-May-13
21-Jun-13
5-Aug-13
19-Sep-13
3-Nov-13
18-Dec-13
1-Feb-14
18-Mar-14
2-May-14
16-Jun-14
31-Jul-14
14-Sep-14
29-Oct-14
13-Dec-14
27-Jan-15
Currencies
40.00
45.00
50.00
55.00
60.00
65.00
70.00
75.00
Source: Reuters
EUR/USD
1.51
1.46
1.41
1.36
1.31
1.26
1.21
1.16
3-Jan-11
17-Feb-11
3-Apr-11
18-May-11
2-Jul-11
26-Aug-11
30-Sep-11
14-Nov-11
29-Dec-11
12-Feb-12
28-Mar-12
12-May-12
26-Jun-12
10-Aug-12
24-Sep-12
8-Nov-12
23-Dec-12
6-Feb-13
23-Mar-13
7-May-13
21-Jun-13
5-Aug-13
19-Sep-13
3-Nov-13
18-Dec-13
1-Feb-14
18-Mar-14
2-May-14
16-Jun-14
31-Jul-14
14-Sep-14
29-Oct-14
13-Dec-14
27-Jan-15
Source: Reuters
GBP/USD
1.75
1.70
1.65
1.60
1.55
1.50
1.45
3-Jan-11
17-Feb-11
3-Apr-11
18-May-11
2-Jul-11
26-Aug-11
30-Sep-11
14-Nov-11
29-Dec-11
12-Feb-12
28-Mar-12
12-May-12
26-Jun-12
10-Aug-12
24-Sep-12
8-Nov-12
23-Dec-12
6-Feb-13
23-Mar-13
7-May-13
21-Jun-13
5-Aug-13
19-Sep-13
3-Nov-13
18-Dec-13
1-Feb-14
18-Mar-14
2-May-14
16-Jun-14
31-Jul-14
14-Sep-14
29-Oct-14
13-Dec-14
27-Jan-15
Source: Reuters
Core Schemes
Axis Equity Fund
The Fund is 5 years old with 80 to 100 per cent allocation into
Equity and Equity Related instruments, while 0 to 20 per cent
into Debt and Money market Instruments. The Fund invests in a
diversified portfolio of strong growth companies with
sustainable business models. The Fund has generated one year
CAGR of around 48.97 per cent and has outperformed its
benchmark CNX Nifty Index by 7.16 per cent points as on 28th
February 2015.
No. Company Name
1
2
3
4
5
6
7
8
9
10
Holding
(%)
2.77
1.96
1.57
1.33
1.30
1.10
1.09
0.92
0.92
0.52
2.08
Cigarettes/Tobacco
2.53
3.39
Bank - Public
4.23
Automobiles-Trucks/Lcv
4.37
19.74
Bank - Private
1
2
3
4
5
6
7
8
9
10
Holding
(%)
4.46
3.33
3.27
2.15
1.75
1.53
1.37
1.23
0.88
0.48
0.88
1.37
Logistics
1.53
Paints
2.02
Finance - NBFC
2.30
2.57
Electronics - Components
2.79
7.05
7.11
IT - Software
10.90
Holding
(%)
1.90
1.80
1.62
1.10
1.03
0.69
0.29
0.29
0.28
0.27
Unspecified 0.02
Airlines 0.31
Port
0.54
0.62
0.64
1.30
1.82
Power Generation/Distribution
Refineries
Pharmaceuticals & Drugs
2.31
4.09
5.51
1
2
3
4
5
6
7
8
9
10
Holding
(%)
3.33
1.05
1.04
1.01
0.80
0.80
0.42
0.37
0.30
0.18
0.42
Automobiles-Tractors
0.54
1.80
Cigarettes/Tobacco
2.62
Automobiles-Trucks/Lcv
3.78
4.53
Bank - Public
13.78
Bank - Private
13.82
Source : ACE MF
Core Schemes
ICICI Pru Focused BlueChip Equity Fund
The Fund has locked a one year CAGR of 50.24 per cent vis--vis
its benchmark CNX Nifty Index of 41.81 per cent as on 28th
February 2015. It is new fund as compared to the long tenure of
the peers in the diversified equity category and adopts bottoms
up approach; it has performed in line with the peers and has outperformed its benchmark over one, three and five year timehorizon. The Fund Manager will always select stocks for
investment from among Top 200 stocks in terms of market
capitalization on the NSE.
22.80
1
2
3
4
5
6
7
8
9
10
Holding
(%)
6.49
6.07
4.67
4.59
3.96
3.45
2.98
2.68
2.52
1.49
1.49
2.67
3.37
Textile
3.95
Automobiles-Trucks/Lcv
4.59
4.67
6.07
9.71
11.67
Holding
(%)
3.92
3.18
2.76
1.78
1.71
1.54
0.88
0.87
0.74
0.50
2.08
2.2
2.36
Cigarettes/Tobacco
2.39
Auto Ancillary
3.85
Automobiles-Trucks/Lcv
3.92
Bank - public
7.00
7.77
Bank - Private
16.72
1
2
3
4
5
6
7
8
9
10
Infosys Ltd.
ICICI Bank Ltd.
Housing Development Finance Corporation Ltd.
Maruti Suzuki India Ltd.
ITC Ltd.
Lupin Ltd.
Larsen & Toubro Ltd.
Power Grid Corporation Of India Ltd.
Mahindra & Mahindra Ltd.
Oil & Natural Gas Corporation Ltd.
Holding
(%)
4.74
4.45
4.27
3.73
3.62
2.86
2.56
2.31
1.48
1.44
2.16
Finance - NBFC
2.47
Engineering - construction
2.56
Electric Equipment
2.64
Electronic - Components
3.92
Finance - Housing
4.27
IT - Software
13.83
Source : ACE MF
10
Scheme Recommendations
Core Schemes
Birla SL
Franklin India HDFC Top200
Frontline
High Growth
Fund(G)
Equity Fund(G) Cos Fund(G)
Scheme Name
Axis Equity
Fund(G)
Fund Manager
Pankaj
Murarka
Mahesh Patil
1,324
7,378
1,134
40.85
44.72
79.58
ICICI Pru
Reliance
Tata Pure
Kotak Select
Focused
Focused Large
BlueChip Eq Focus Fund(G)
Equity Fund(G)
Cap
Fund(G)
Fund-Reg(G)
Manish
Gunwani &
Shalya Shah
Harsha
Upadhyaya
Omprakash
Kuckian
Pradeep
Gokhale &
Nainesh Rajani
13,543
8,014
1,291
1,119
772
46.52
41.10
57.87
37.33
36.05
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
Dec 31, 2012 to Dec 31, 2013
13.49
9.25
9.22
4.05
10.21
6.13
9.25
7.96
31.54
35.85
42.27
32.23
26.63
33.24
41.02
28.29
14.10
24.99
15.11
22.66
17.25
16.21
9.71
23.72
14,085
14,472
17,958
14,652
14,110
15,787
13,733
13,605
11,349
10,925
10,922
10,405
11,021
10,613
10,925
10,796
13,154
13,585
14,227
13,223
12,663
13,324
14,102
12,829
19,310
157,040
28,483
422,972
28,630
22,192
22,529
347,059
5-Jan-10
30-Aug-02
26-Jul-07
3-Sep-96
23-May-08
11-Sep-09
28-Mar-06
7-May-98
Inception Date
Ratios
SD (%)
14.84
16.41
17.39
19.90
15.03
16.45
18.46
13.60
Treynor
1.5897
1.5489
2.3829
1.1615
1.3542
1.7286
1.2975
1.2961
1% on or
before 12M,
Nil after 12M
1% on or
before 1Y,
Nil after 1Y
1% on or
before 2Y
1% on or
before 18M,
Nil after 18M
1% on or
before 1Y,
Nil after 1Y
1% on or
before 1Y,
Nil after 1Y
1% on or
before 1Y,
Nil after 1Y
1% on or
before 365D
CNX Nifty
Index
CNX 200
CNX Nifty
Index
S&P BSE
SENSEX
29.89
Exit Load
Benchmark Name
CNX Nifty
Index
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
31.39
35.47
37.82
35.47
31.39
35.53
31.39
6.76
4.38
3.61
4.38
6.76
4.44
6.76
8.98
27.53
30.79
31.65
30.79
27.53
31.45
27.53
25.54
13,139
13,547
13,782
13,547
13,139
13,553
13,139
12,989
10,676
10,438
10,361
10,438
10,676
10,444
10,676
10,898
12,753
13,079
13,165
13,079
12,753
13,145
12,753
12,554
11
Satellite Schemes
Axis Midcap Fund
The Fund has a long track record for nearly 20 years. The scheme
follows a blend of value and growth style of investing. The fund
will follow a bottom-up approach to stock-picking and choose
companies across sectors. It has generated a one year CAGR of
88.51 per cent as on 28th February 2015 and has out-performed
both its benchmark CNX 500 Index and CNX Midcap over one,
three and five year time-horizon.
Holding
(%)
4.70
3.48
3.26
3.05
2.40
2.20
2.19
2.14
2.13
2.06
Bank - Public
2.96
Air Conditioners
3.01
Bearings
3.16
Fertilizers
3.35
Finance - NBFC
3.68
Automobiles-Trucks/Lcv
4.02
Gas Trasmission/Marketing
4.09
Finance - Investment
6.93
9.34
Bank - Private
10.72
Holding
(%)
4.80
3.21
3.16
2.71
2.62
2.57
2.56
2.41
2.19
2.04
2.60
Chemicals
2.75
3.36
Cable
3.43
Bearings
4.13
Finance - Housing
4.41
4.65
Auto Ancillary
4.66
IT - Software
6.56
Bank - Private
15.98
Investment Objective: The aim of the fund is to generate longterm capital appreciation from a portfolio that is substantially
constituted of equity and equity related securities of small and
mid-cap companies.
Holding
(%)
3.04
3.00
2.19
2.16
2.10
2.09
2.08
2.07
2.01
1.99
2.58
3.22
Textile
4.19
IT - Software
4.19
4.31
Engineering
4.70
Engineering - Construction
4.95
Auto Ancillary
5.33
7.54
11.19
The Fund has given one year CAGR of 74.63 per cent as on 28th
February 2015. Over funds seven year period, fund has given
consistent returns and has out-performed the benchmark CNX
Midcap which helped the fund to place itself in the upper
quartile of the midcap diversified equity funds.
Holding
(%)
2.84
2.45
2.35
2.32
2.23
2.21
2.10
2.10
2.02
2.01
3.51
3.65
Air Conditioners
3.73
Chemicals
3.76
3.92
Auto Ancillary
5.42
IT - Software
5.72
Bank - Private
Bank - Public
Pharmaceuticals & Drugs
7.24
9.87
11.46
Source : ACE MF
12
Satellite Schemes
ICICI Pru Value Discovery Fund
3.64
Refineries
3.69
Power Generation/Distribution
3.70
Logistics
3.73
Auto Ancillary
4.90
5.98
Engineering - Construction
6.52
IT - Software
Bank - Private
8.60
11.93
1
2
3
4
5
6
7
8
9
10
Allahabad Bank
Allsec Technologies Ltd.
Alstom T&D India Ltd.
Amara Raja Batteries Ltd.
Apollo Tyres Ltd.
Arvind Ltd.
Automotive Axles Ltd.
Bajaj Corp Ltd.
Bajaj Electricals Ltd.
Bharat Forge Ltd.
Holding
(%)
2.33
1.92
1.70
1.37
0.84
0.76
0.45
0.38
0.32
0.04
0.04
0.22
Automobiles-Tractors
0.30
Agriculture
0.64
Casting/Forgings
3.51
Automobiles-Trucks/Lcv
3.70
Bank - Public
Bank - Private
Auto Ancillary
4.32
5.36
6.84
Source : ACE MF
13
Scheme Recommendations
Satellite Schemes
Scheme Name
Axis Midcap
Fund(G)
Franklin India
Prima Fund(G)
HDFC Mid-Cap
Opportunities
Fund(G)
Fund Manager
Pankaj Murarka
Ravi
Gopalakrishnan &
Krishna Sanghavi
R. Janakiraman
& Roshi Jain
Chirag Setalvad
& Rakesh Vyas
Mrinal Singh
& Shalya Shah
Anoop Bhaskar
822
169
2,691
8,222
7,367
1,956
76.55
96.02
78.14
76.63
73.76
90.44
4.07
3.16
7.40
9.64
8.31
9.69
52.24
48.57
44.13
39.37
45.70
41.28
26.52
19.12
21.72
18.60
25.76
18.09
17,655
19,602
17,814
17,663
17,376
19,044
10,407
10,316
10,740
10,964
10,831
10,969
15,224
14,857
14,413
13,937
14,570
14,128
24,840
55,670
632,407
36,093
107,990
47,955
18-Feb-11
11-Mar-05
1-Dec-93
25-Jun-07
16-Aug-04
30-Jul-05
Ratios
SD (%)
19.94
21.74
17.30
18.26
18.76
19.81
Treynor
2.4923
2.7491
2.9680
2.6592
2.7017
2.9470
Exit Load
Benchmark Name
CNX Midcap
CNX Midcap
CNX Midcap
CNX Midcap
55.91
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
54.69
55.91
37.82
55.91
55.91
-5.73
-5.10
3.61
-5.10
-5.10
-5.10
38.27
38.91
31.65
38.91
38.91
38.91
15,469
15,591
13,782
15,591
15,591
15,591
9,427
9,490
10,361
9,490
9,490
9,490
13,827
13,891
13,165
13,891
13,891
13,891
14
Scheme Recommendations
Balanced Funds
Benchmark
Scheme Name
Scheme Name
Fund Manager
Quaterly AAUM (Rs. Crs.) Dec-2014
Birla SL '95
Fund(G)
HDFC Prudence
Fund(G)
Reliance
Reg Savings
Fund-Balanced
Plan(G)
1,058
7,605
1,290
821
1,438
25.34
Tata Balanced
Fund(G)
Crisil Balanced
Fund Index
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
48.56
51.76
45.56
43.20
49.61
6.10
2.06
11.18
3.52
7.54
6.05
24.45
29.90
29.20
33.64
30.36
21.21
22.26
20.74
15.60
14.94
17.30
14,856
15,176
14,556
14,320
14,961
12,534
10,610
10,206
11,118
10,352
10,754
10,605
12,121
12,445
12,990
12,920
13,364
13,036
545,502
516,095
90,160
37,866
215,708
10-Feb-95
1-Feb-94
3-Nov-99
10-Jun-05
8-Oct-95
1% on or before
540D, Nil
after 540D
Inception Date
1% on or before
540D, Nil
after 540D
Exit Load
Exposure (%)
Debt
20.15
24.78
21.15
24.19
23.31
Equity
71.16
71.48
71.35
72.44
74.07
8.68
3.74
7.50
3.37
2.62
Scheme Name
Axis LT Equity
Fund(G)
Birla SL Tax
Plan(G)
Birla SL Tax
Relief '96(G)
HDFC Tax
Saver(G)
Fund Manager
Jinesh Gopani
Ajay Garg
Ajay Garg
Vinay R. Kulkarni
& Rakesh Vyas
Ashwani Kumar
2,983
192
1,809
4,910
2,341
3,458
83.00
ELSS
66.18
52.91
54.55
56.36
50.82
16.51
8.53
9.09
5.09
10.15
3.47
33.47
36.18
36.32
26.43
37.39
45.75
23.42
12.01
10.93
29.66
23.68
18.07
16,618
15,291
15,455
15,636
15,082
18,300
11,651
10,853
10,909
10,509
11,015
10,347
13,347
13,618
13,632
12,643
13,739
14,575
28,690
25,490
20,273
1,308,119
262,601
46,726
Inception Date
Benchmark Name
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
Dec 31, 2012 to Dec 31, 2013
Dec 31, 2011 to Dec 31, 2012
Current Value of Investment of
INR 10,000 if invested from
Dec 31, 2013 to Dec 31, 2014
Dec 31, 2012 to Dec 31, 2013
Dec 31, 2011 to Dec 31, 2012
29-Dec-09
3-Oct-06
10-Mar-08
31-Mar-96
19-Aug-99
21-Sep-05
35.47
4.38
30.79
29.89
8.98
25.54
35.47
4.38
30.79
37.82
3.61
31.65
37.82
3.61
31.65
32.28
5.87
29.77
13,547
10,438
13,079
12,989
10,898
12,554
13,547
10,438
13,079
13,782
10,361
13,165
13,782
10,361
13,165
13,228
10,587
12,977
15
Scheme Recommendations
Arbitrage Funds
Scheme Name
IDFC Arbitrage
Fund-Reg(G)
Kotak Equity
Arbitrage
Scheme(G)
SBI Arbitrage
Opportunities
Fund-Reg(G)
Crisil Liquid
Fund Index
Fund Manager
Yogik Pitti
Deepak Gupta
Neeraj Kumar
944
1,132
2,275
339
2,274
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
8.54
8.58
8.53
8.99
8.62
9.21
9.45
9.80
9.23
9.18
9.03
9.03
10.41
10.05
9.27
9.53
9.06
8.50
7.94
8.13
7.52
7.87
7.86
10,854
10,858
10,853
10,899
10,862
10,921
10,945
10,980
10,923
10,918
10,903
10,903
10,850
11,041
11,005
10,927
10,953
10,906
20,810
18,700
17,904
20,168
18,547
31-May-05
30-Dec-06
21-Dec-06
29-Sep-05
3-Nov-06
0.50% on or
before 3M
0.50% on or
before 3M
0.25% on or
before 3M
0.50% on or
before 90D
0.50% on or before
3M, Nil after 3M
Inception Date
Exit Load
Source: ACEMF
Colour code for different schemes indicating the level of risk is given on page no. 25 along with other risk related information.
MIP
Benchmark
Scheme Name
Scheme Name
Franklin India
MIP(G)
Satyabrata
Anand
Mohanty &
Radhakrishnan &
Kaustubh Gupta Sachin Padwal-Desai
Fund Manager
Quaterly AAUM (Rs. Crs.) Dec-2014
HSBC MIPSavings(G)
ICICI Pru
MIP 25(G)
Reliance MIP(G)
Crisil MIP
Blended Index
Aditya Khemani
& Sanjay Shah
Sanjay Parekh
& Amit Tripathi
353
328
183
906
2,313
16.83
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
27.70
22.39
21.72
22.52
23.37
6.65
5.97
4.26
5.85
3.51
4.41
16.65
14.10
17.64
17.17
16.67
12.07
10.32
10.57
10.13
10.60
11.28
12,770
12,239
12,172
12,252
12,337
11,683
10,665
10,597
10,426
10,585
10,351
10,441
11,207
11,665
11,410
11,764
11,717
11,667
28,368
41,929
28,510
29,572
32,318
22-May-04
28-Sep-00
24-Feb-04
30-Mar-04
12-Jan-04
8.27
Inception Date
Average Maturity in Years
Dec-14
9.85
11.46
8.40
Jan-15
11.32
10.79
7.93
1% on or before
1095D, Nil after
1095D
1% on or
before 1Y
NIL
Exit Load
9.45
1.5% on or before
12M, 1% after 12M
1% on or before
but on or before
3Y, Nil after 3Y
24M, 0.50% after
24M but on or before
36M, Nil after 36M
Exposure (%)
Debt
64.19
77.42
69.53
75.30
76.08
Equity
29.46
19.53
24.80
22.06
19.76
16
Scheme Recommendations
Focus List - Additional Recommended Schemes
Debt Funds
Equity Funds
Kotak Bond-STP
Liquid Funds
Particulars
Axis Liquid
Fund(G)
Devang
Shah
Fund Manager
Quaterly AAUM (Rs. Crs.) Dec-2014
7,385
DWS Insta
Cash Plus
Fund(G)
Scheme Name
ICICIPru
JMHigh
HDFC Liquid
MoneyMarket Liquidity
Fund(G)
Fund-Reg(G)
Fund(G)
Benchmark
Religare
SBI Premier
UTI LiquidInvesco
Liquid
Cash Plan(G)
Liquid Fund(G) Fund(G)
Rahul
Shobhit
Kumaresh
Krishna Venkat
Shalini
Rajeev
Ramakrishnan Mehrotra & Goswami &
Cheemalapati
Manish Joshi
Tibrewala
& Rakesh Suri Rakesh Vyas Aditya Pagaria
& Nitish Sikand Radhakrishnan
6,319
17,292
5,989
5,135
7,939
24,419
16,637
Crisil Liquid
Fund Index
-
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
9.10
9.05
9.10
9.12
9.14
9.11
9.04
9.08
9.21
9.20
9.10
9.28
9.15
9.31
9.24
9.22
9.11
9.03
9.64
9.66
9.50
9.68
9.55
9.69
9.60
9.57
8.50
8.29
8.15
7.24
7.50
8.06
8.10
10.29
7.36
10,910
10,905
10,910
10,912
10,914
10,911
10,904
10,908
10,921
10,920
10,910
10,928
10,915
10,931
10,924
10,922
10,911
10,903
10,964
10,966
10,950
10,968
10,955
10,969
10,960
10,957
10,850
15,167
17,762
27,018
18,932
37,362
18,825
21,493
21,939
9-Oct-09
4-Sep-07
17-Oct-00
8-Mar-06
31-Dec-97
17-Nov-06
11-Mar-07
10-Dec-03
Dec-14
50
44
41
43
41
51
37
43
Jan-15
28
26
32
25
29
35
33
28
Inception Date
Average Maturity in Days
No Exit Load
Source: ACEMF
Colour code for all the above schemes is BLUE. Please refer to page no. 25 for product labels and other risk related information.
17
Scheme Recommendations
Ultra Short Term Funds
Scheme Name
Birla SL Savings
Fund(G)
Fund Manager
Sunaina da Cunha
Nitish Gupta
& Kumaresh
Ramakrishnan
10,909
2,789
6,769
Rahul Goswami
& Rohan Maru
12,323
Tata Floater(G)
UTI Treasury
Advantage Fund(G)
Akhil Mittal
Sudhir Agarwal
2,665
6,670
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
9.66
9.53
10.00
9.49
9.22
9.31
9.55
9.95
10.04
9.62
9.37
9.55
9.69
9.93
10.20
9.61
9.60
9.67
7.60
7.91
8.79
8.01
8.03
8.37
10,966
10,953
11,000
10,949
10,922
10,931
10,955
10,995
11,004
10,962
10,937
10,955
10,969
10,993
11,020
10,961
10,960
10,967
23,603
16,397
18,098
25,746
20,553
18,567
16-Apr-03
4-Jul-08
18-Dec-07
27-Sep-02
6-Sep-05
23-Apr-07
102
168
197
160
75
Jan-15
146
183
159
154
76
NIL
NIL
NIL
NIL
NIL
NIL
Crisil Liquid
Fund Index
Crisil Liquid
Fund Index
Crisil Liquid
Fund Index
Crisil Liquid
Fund Index
Crisil Liquid
Fund Index
10.47
9.21
9.21
9.21
9.21
Exit Load
Benchmark Name
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
9.21
8.27
9.03
9.03
9.03
9.03
9.03
9.10
8.50
8.50
8.50
8.50
8.50
11,047
10,921
10,921
10,921
10,921
10,921
10,827
10,903
10,903
10,903
10,903
10,903
10,910
10,850
10,850
10,850
10,850
10,850
No Exit Load
Source: ACEMF
Colour code for all the above schemes is BLUE. Please refer to page no. 25 for product labels and other risk related information.
18
Scheme Recommendations
Short Term Funds
Scheme Name
Birla SL ST
Opportunities
Fund(G)
Fund Manager
Sanjay Shah
Santosh
KaustubhGupta Nitish Gupta
Anil Bamboli &
& Piyush
Kamath &
& Kumaresh
& Sunaina
Rakesh
Vyas
da Cunha
Harlalka
Ramakrishnan Kunal Agrawal
DWS Short
Maturity
Fund(G)
Franklin India
HDFC STP(G)
ST Income
Plan(G)
HSBC Income
-Short Term
Plan(G)
ICICI Pru
Short Term
Plan-Reg(G)
Reliance
STF(G)
Tata ST
Bond(G)
Manish
Banthia
Prashant
Pimple
S. Raghupathi.
Archarya &
Akhil Mittal
3,796
1,914
9,904
2,253
943
3,622
4,757
1,546
11.33
10.62
11.65
10.96
9.90
11.55
11.33
10.56
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
Dec 31, 2012 to Dec 31, 2013
10.12
8.10
9.39
7.28
7.09
7.24
7.51
9.10
11.08
9.76
9.98
9.54
9.13
9.49
9.75
9.50
7.13
7.82
8.33
7.84
7.00
8.12
8.12
7.83
11,133
11,062
11,165
11,096
10,990
11,155
11,133
11,056
11,012
10,810
10,939
10,728
10,709
10,724
10,751
10,910
11,108
10,976
10,998
10,954
10,913
10,949
10,975
10,950
22,316
24,561
28,123
26,370
22,622
28,008
25,607
25,477
9-May-03
27-Jan-03
31-Jan-02
28-Feb-02
10-Dec-02
25-Oct-01
18-Dec-02
8-Aug-02
Inception Date
Average Maturity in Years
Dec-14
2.32
2.79
2.13
2.54
2.96
2.89
2.51
Jan-15
2.89
2.75
2.19
2.52
2.80
2.88
2.78
0.75% on or
before 6M,
Nil after 6M
0.50% on or
before 1Y
0.75% on or
before 12M,
NIL after 12M
Nil
0.50% on or
before 3M,
Nil after 3M
0.25% on or
before 1M,
Nil after 1M
0.50% on or
before 90D,
Nil after 90D
Crisil Short
Term Bond
Fund Index
Crisil Short
Term Bond
Fund Index
Crisil Short
Term Bond
Fund Index
Crisil Short
Term Bond
Fund Index
Crisil Short
Term Bond
Fund Index
Crisil Liquid
Fund Index
Crisil Short
Term Bond
Fund Index
10.47
Exit Load
Benchmark Name
1.50%onorbefore
365D, 0.50%
after 365D but on
or before 540D,
Nil after 540D
Crisil AA Short
Term Bond
Fund Index
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
10.47
10.47
10.47
10.47
10.47
9.21
8.27
8.27
8.27
8.27
8.27
9.03
8.27
9.10
9.10
9.10
9.10
9.10
8.50
9.10
11,047
11,047
11,047
11,047
11,047
10,921
11,047
10,827
10,827
10,827
10,827
10,827
10,903
10,827
10,910
10,910
10,910
10,910
10,910
10,850
10,910
Source: ACE MF
Colour code for different schemes indicating the level of risk is given on page no. 25 along with other risk related information.
19
Scheme Recommendations
Accrual Funds
Scheme Name
Fund Manager
Santosh Kamath
& Sumit Gupta
Rahul Bhuskute
Prashant Pimple
4,150
4,611
4,868
11.65
10.97
10.97
8.64
7.50
7.99
10.11
9.38
9.57
9.34
9.14
6.65
11,165
11,097
11,097
10,864
10,750
10,799
11,011
10,938
10,957
15,711
14,289
18,515
11-Dec-09
3-Dec-10
10-Jun-05
3.10
2.95
2.07
Jan-15
3.25
2.82
2.02
3% on or before 12M,
2% after 12M but
on or before 18M,
1% after 18M but
on or before 24M
1% on or before 18M,
Nil after 18M
1% on or Before 1Y,
NIL after 1Y.
Crisil Composite
Bond Fund Index
Crisil Composite
Bond Fund Index
10.47
14.31
14.31
Exit Load
Benchmark Name
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
Dec 31, 2012 to Dec 31, 2013
8.27
3.79
3.79
9.10
9.34
9.34
11,047
11,431
11,431
10,827
10,379
10,379
10,910
10,934
10,934
Source: ACEMF
Colour code for different schemes indicating the level of risk is given on page no. 25 along with other risk related information.
20
Scheme Recommendations
Income Funds
Scheme Name
Birla SL Income
Plus(G)
HDFC Income
Fund(G)
Kotak Bond
Fund - Plan A(G)
Reliance
Income(G)
Fund Manager
Prasad Dhonde
Shobhit Mehrotra
& Rakesh Vyas
Manish Banthia
Manish Banthia
Deepak Agrawal
& Abhishek Bisen
Prashant Pimple
3,444
2,354
1,805
3,069
3,543
1,890
16.03
15.68
14.54
16.92
15.13
14.81
2.65
2.17
4.24
0.86
2.10
2.80
10.64
10.45
11.20
10.16
12.86
11.04
9.91
8.26
10.45
9.21
9.42
9.19
11,603
11,568
11,454
11,692
11,513
11,481
10,265
10,217
10,424
10,086
10,210
10,280
11,064
11,045
11,120
11,016
11,286
11,104
61,412
31,140
18,840
42,753
38,970
44,609
21-Oct-95
11-Sep-00
18-Aug-08
9-Jul-98
25-Nov-99
1-Jan-98
14.00
6.87
15.06
13.17
15.82
Jan-15
15.19
7.04
13.47
14.64
15.72
NIL
0.50% on or before
6M, Nil after 6M
1% on or before
1Y, Nil after 1Y
1% on or before
1Y, Nil after 1Y
NIL
NIL
Crisil Composite
Bond Fund Index
Crisil Composite
Bond Fund Index
Crisil Composite
Bond Fund Index
Crisil Composite
Bond Fund Index
Crisil Composite
Bond Fund Index
Crisil Composite
Bond Fund Index
14.31
14.31
14.31
14.31
14.31
Exit Load
Benchmark Name
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
14.31
3.79
3.79
3.79
3.79
3.79
3.79
9.34
9.34
9.34
9.34
9.34
9.34
11,431
11,431
11,431
11,431
11,431
11,431
10,379
10,379
10,379
10,379
10,379
10,379
10,934
10,934
10,934
10,934
10,934
10,934
Source: ACEMF
Colour code for different schemes indicating the level of risk is given on page no. 25 along with other risk related information.
21
Scheme Recommendations
Long Term Gilt
Scheme Name
Birla SL GSec-LT(G)
Kotak GiltInvest-Reg(G)
Reliance Gilt
Securities Fund(G)
Fund Manager
Prasad Dhonde
& Kaustubh Gupta
Rahul Goswami
& Anuj Tagra
Deepak Agrawal
& Abhishek Bisen
Prashant Pimple
S. Raghupathi.
Archarya & Akhil Mittal
415
299
407
463
78
17.70
17.54
20.53
17.09
18.64
3.05
1.40
0.06
3.27
5.20
11.15
9.53
14.54
12.96
10.34
9.63
9.24
10.07
9.21
9.47
11,754
12,053
11,709
11,864
11,770
10,305
10,140
10,006
10,327
10,520
11,115
10,953
11,454
11,296
11,034
40,397
26,737
46,476
17,518
40,046
28-Oct-99
19-Nov-03
29-Dec-98
22-Aug-08
4-Sep-99
20.52
15.45
17.80
13.84
Jan-15
19.56
16.93
19.26
15.62
NIL
NIL
NIL
NIL
0.50% on or before
180D, Nil after 180D
I-Sec Li-BEX
I-Sec Li-BEX
I-Sec Composite
Gilt Index
I-Sec Li-BEX
I-Sec Composite
Gilt Index
19.74
15.12
19.74
15.12
Exit Load
Benchmark Name
CAGR (%)
Dec 31, 2013 to Dec 31, 2014
19.74
1.38
1.38
4.12
1.38
4.12
12.81
12.81
11.05
12.81
11.05
11,974
11,974
11,512
11,974
11,112
10,138
10,138
10,412
10,138
10,492
11,281
11,281
11,105
11,281
11,007
Source: ACEMF
Colour code for all the above schemes is BLUE. Please refer to page no. 25 for product labels and other risk related information.
22
Model Portfolio
Wealth
Guard (%)
Low Risk Debt
Wealth
Keeper (%)
Wealth
Builder (%)
Wealth
Enhancer (%)
Wealth
Multiplier (%)
60
50
30
20
15
35
35
30
20
15
15
30
40
50
10
20
20
100
100
100
100
100
Corporate/Bank Deposits
Post Office & RBI/ PSU Bonds
Fixed Maturity Plans (FMPs)
Liquid/Ultra Short Term Funds
Long/Short Term Debt
Short Term Funds
Income Funds
Monthly Income Plans (MIPs)
Gilt - Medium to Long Term
Equity
Diversified Equity Funds
Direct Equity/Derivatives
Private Equity
Equity PMS
Alternate
Other Asset Class (Gold, etc.)
Structured Products (Capital protected)
Structured Products (Non-Capital protected)
Total
23
joseph.thomas@adityabirla.com
022-6132 5221
sanket.desai@adityabirla.com
Sravan Kumar
022-6132 5214
sravan.kumar@adityabirla.com
Ananth Sundur
022-6180 2841
ananth.sundur@adityabirla.com
Swarashree Bhosale
022-6132 5216
swarashree.bhosale@adityabirla.com
Shrenik Daga
022-6132 5211
shrenik.daga@adityabirla.com
Rajneet Singh
022-6132 5215
rajneet.singh@adityabirla.com
Akanksha Mehta
022-6132 5217
akanksha.mehta@adityabirla.com
Gargi Bhattacharjee
022-6132 5219
gargi.b@adityabirla.com
Aditya Mehta
022-6132 5213
aditya.mehta@adityabirla.com
Tushar Patil
022-6132 5212
tushar.patil@adityabirla.com
Nilesh Shinde
022-6132 5226
nilesh.shinde@adityabirla.com
Disclaimer:
This document is prepared by the Research Division of Aditya Birla Money Mart Limited (ABMML/ the Company) on the basis of publicly available information,
internally developed data and other sources believed to be reliable. Whilst no action has been taken based upon this information, ABMML does not warranty either
expressly or impliedly, the accuracy, completeness or reliability of any information provided herein. Neither ABMML nor any of its employees / directors /
authorized representatives shall be liable for any direct, indirect, special, consequential, punitive or exemplary damages including lost profits arising in any way
from the information contained in this material, and hereby disclaims any liability with regard to the same. This report is disseminated for the information of
authorized recipients only and is not to be relied upon or taken in substitution for the exercise of due diligence and judgment by any recipient. This report does not
provide individually tailored investment advice; investors should seek independent financial advice with respect to the merits and risks involved in any of the
matters concerning investments in the Schemes/products mentioned in the report. MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS READ ALL
SCHEME RELATED DOCUMENTS CAREFULLY BEFORE INVESTING. PAST PERFORMANCE MAY OR MAY NOT BE SUSTAINED IN FUTURE. Returns are for Growth Option.
Calculations of return assume that all payouts during the period have been reinvested in the Scheme at the then prevailing NAV. Returns of less than one year are
absolute returns and returns of one year and more are compounded annualized returns.
This document is meant solely for the selected recipient to whom it has been specifically made available for general reading purposes. Nothing in this document
should be construed as an investment/financial advice or solicitation to purchase or sell, units of Scheme of any particular fund house or any financial product
referred to in this document. Investment decision if any taken will be at your sole and absolute discretion after due assessment and understanding of your
investment objective, appropriateness and risk averseness including indicated under product labeling of mutual fund scheme. ABMML shall not be held
responsible in any manner whatsoever for the consequences resulting from you taking the decision based on the use of this information. You may therefore obtain
your own legal, tax and financial advice before making a decision. Aditya Birla Money Mart Ltd is registered with AMFI as a distributor of mutual fund [ARN 0003]
and being engaged in the distribution of Mutual Fund products may receive fees / commission from the asset management companies. The indicative range of
commission receivable from AMCs is from 0% to 6.5% depending on the schemes and as notified by the AMCs from time to time. For more details about the
Company, its businesses and other information including the commissions received from asset management companies you may visit the website
www.adityabirlamoney.com under the Products Mutual Fund section or can seek direct information from your relationship manager at the time of investment.
ABMML is an also an associate / group company of Birla Sun Life Asset Management Company Limited and trustees and sponsor of Birla Sun Life Mutual Fund
(BSLMF), and also acts as a distributor of BSLMF. Any recommendation or reference of schemes of BSLMF made here if any is based on the standard evaluation and
selection process, which would apply uniformly for all mutual fund schemes. The payment of commission (upfront /annualized & trail) for any Schemes of BSLMF to
ABMML would be as per prevailing market practices. You may execute the mutual fund transactions using the execution services of the Company. These services
shall be as per the SEBI guidelines issued from time to time and you may quote the EUIN number of the relationship manager in case of such transactions is
executed based on the advice provided by the Company.
24
Product Labelling
Core Schemes
Axis Equity Fund
Birla SL Frontline Equity Fund
Franklin India High Growth Cos Fund
HDFC Top 200 Fund
ICICI Pru Focused BlueChip Eq Fund
Kotak Select Focus Fund
Reliance Focused Large Cap Fund
Tata Pure Equity Fund
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Satellite Schemes
Axis Midcap Fund
Canara Rob Emerg Eq Fund
Franklin India Prima Fund
HDFC Mid-Cap Opportunities Fund
ICICI Pru Value Discovery Fund
UTI Mid Cap Fund
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
Brown
Brown
Brown
Brown
Brown
Brown
ELSS
Axis LT Equity Fund
Birla SL Tax Plan
Birla SL Tax Relief '96
HDFC TaxSaver
ICICI Pru Tax Plan
Reliance Tax Saver (ELSS) Fund
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
Brown
Brown
Brown
Brown
Brown
Brown
Balanced Funds
Birla SL '95 Fund
HDFC Prudence Fund
ICICI Pru Balanced Fund
Reliance Reg Savings Fund-Balanced Plan
Tata Balanced Fund
High Risk
High Risk
High Risk
High Risk
High Risk
Brown
Brown
Brown
Brown
Brown
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
High Risk
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Brown
Arbitrage Funds
ICICI Pru Blended-A
ICICI Pru Equity-Arbitrage Fund
IDFC Arbitrage Fund
Kotak Equity Arbitrage Scheme
SBI Arbitrage Opportunities Fund
Medium Risk
Medium Risk
Low Risk
Low Risk
High Risk
Yellow
Yellow
Blue
Blue
Brown
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Blue
Blue
Blue
Blue
Blue
Blue
Blue
Blue
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Blue
Blue
Blue
Blue
Blue
Blue
Medium Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Medium Risk
Yellow
Blue
Blue
Blue
Blue
Blue
Blue
Yellow
Medium Risk
Low Risk
Low Risk
Low Risk
Low Risk
Low Risk
Yellow
Blue
Blue
Blue
Blue
Blue
Birla SL G-Sec-LT
ICICI Pru Gilt-Invest-PF
Kotak Gilt-Invest
Reliance Gilt Securities Fund
Tata Gilt Securities Fund
Accrual Funds
Low Risk
Low Risk
Low Risk
Low Risk
Medium Risk
Blue
Blue
Blue
Blue
Yellow
MIP
Birla SL MIP II-Wealth 25
Franklin India MIP
HSBC MIP-Savings
ICICI Pru MIP 25
Reliance MIP
Liquid Funds
Axis Liquid Fund
DWS Insta Cash Plus Fund
HDFC Liquid Fund
ICICI Pru Money Market Fund
JM High Liquidity Fund
Religare Invesco Liquid Fund
SBI Premier Liquid Fund
UTI Liquid-Cash Plan
Ultra Short Term Funds
Blue
Blue
Blue
Blue
Yellow
Blue
Blue
Yellow
Medium Risk
Medium Risk
Medium Risk
Medium Risk
Medium Risk
Yellow
Yellow
Yellow
Yellow
Yellow
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them
25
Contact Information
Aditya Birla Money Mart Limited
Corporate Office: One Indiabulls Centre, Tower 1, 14th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013.
Registered Office: Indian Rayon Compound, Veraval, Gujarat 362 266. E-mail: abmm.helpdeskonline@adityabirla.com,
CIN U61190GJ1997PLC062406, Tel: +91 22 43568300, Website: www.adityabirlamoney.com, Fax: +91 22 43568310