Fund Scorebook

Edelweiss Fund Scorebook
Guide to the top Mutual Funds
Edelweiss – Ideas create, values protect

Oct - Dec Quarter – FY 2015-16
Strictly Private and Confidential
Industry AUM Trends
The industry grew for the eighth consecutive quarter, up by Rs 0.86 Lakh Cr crossed Rs 13 Lakh Cr in
the latest quarter, as per data released by the Association of Mutual Funds in India (AMFI).
Equity AUM, at INR4.08 Lakh Cr, up ~INR0.05 Lakh Cr MoM.
Debt AUM, at INR7.78 Lakh Cr, fell ~INR0.73 Lakh Cr MoM.
Net inflow to mutual funds at ~INR5444 Cr (net of NFOs + existing schemes – redemptions).
NFOs worth ~INR20 Cr in equity schemes.
Fund flow into existing schemes at ~INR0.12Lakh Cr.
Redemptions at ~INR0.07 Lakh Cr.
Mutual funds were net equity buyers at ~INR0.09Lakh Cr in September.
Total cash balance across AMCs slipped from August and stood at ~INR0.14Lakh Cr, constituting
~3.88% of the total corpus (~4.25% in August).
9 14
13.22
13.19
8 12.10 12.51 12.35
11.87 11.91 12.26 12
11.41
7 10.67 11.00 10.86 10.85
10.48
10.03 10
6
5 8
4 6
3
4
2
2
1
- -
Equity Debt Others Total AUM
All figures are as on 30th Sept 2015, in INR Lakh Crore

EQUITY MUTUAL FUNDS
Equity: What's in, What's out?
Inflow of ~INR5444 CR into equity schemes (net of NFOs + existing schemes – redemptions) in
September. For the seventeenth straight month, flows have remained positive. Fund flow into
existing schemes was at ~INR12532Cr, while redemptions stood at INR7108 Cr.
As equity markets world over displayed weakness in the early part of September, Nifty was no
different. However, with the FOMC dithering on the rate lift-off and RBI aggressively resorting to
monetary easing, sentiments have shown some signs of improvement. Key events like ongoing Bihar
elections and Q2FY16 earnings season should set the tone for October.
The correction offered funds a chance to lap up quality large-cap names like HDFC Bank, Infosys, L&T
and Axis Bank. On the other hand, funds trimmed positions in IDFC (ahead of demerger of IDFC
Bank), Maruti (expensive valuations), Wipro and Dr Reddys Labs.
Fair bit of churning was seen in the IT space. Funds were also seen adding beaten down erstwhile
Street favorites like Tata Motors and ONGC.
HDFC Mutual Fund's major additions were HDFC Bank (INR145Cr), ICICI Bank(INR87Cr) and Power
Grid (INR85 Cr). Its major reductions were Emami (INR 65Cr), BPCL (INR 62 Cr) and P&G (INR6 Cr).
Prabhat Dairy (IPO) was a fresh inclusion in the portfolio. Gateway Distriparks and Amtek Auto were
complete exits.
Reliance Mutual Fund's major additions were HDFC (INR 115Cr), SBI(INR 99Cr) and ICICI Bank(INR
9Cr). Its major reductions were Maruti (INR262 Cr), Indiabulls Housing Finance(INR 71 Cr) and Cadila
Healthcare(INR 71 Cr). Bajaj Corp and SMS Pharma were new additions in August. Kaveri Seed was a
prominent exit.
ICICI Prudential Mutual Fund's significant additions were Reliance (INR 345 Cr), L&T (INR 279Cr) and
Cipla(INR 249Cr).Its major reductions were IDFC(INR 308Cr), Dr.Reddy’s Lab (INR 215Cr) and Bata
India (INR 212 Cr). Allahabad Bank was prominent new entry, while Ceat was a complete exit in
September.
Franklin Templeton Mutual Fund's major additions were LT (INR 75 Cr), Ultratech Cement (INR 74 Cr)
and ICICI Bank (INR 68 Cr). It's major reductions were Bajaj Auto (INR 28 Cr), CRISIL (INR 25 Cr) and
Wipro(INR 24 Cr) . Adani Ports was a new entry and NMDC was a complete exit.
UTI Mutual Fund's major additions were IDFC and Mahindra & Mahindra Financial Services (INR122
Cr each) and Aditya Birla Nuvo (INR50 Cr). Its major reductions were ICICI Bank (INR79 Cr), Maruti
(INR 29Cr) and Bharat Forge (INR 28 Cr). SKS Microfinance was a new entrant while Amtek Auto was a
complete exit in September.
Birla SL Mutual Fund's major additions were Infosys (INR 223 Cr), Coal India (INR 187 Cr) and LT (INR
150 Cr). It's major reductions were Wipro (INR 141Cr), IDFC (INR120 Cr) and Motherson Sumi (INR 57
Cr). Adani Ports was the new entry and NALCO complete exit.
LARGE CAP FUNDS
• Birla SL Frontline Equity Fund
• SBI Bluechip Fund
• Franklin India Prima Plus Fund
• L&T Equity Fund
Birla SL Frontline Equity Large Cap
SCHEME DESCRIPTION SCHEME INFO

Birla SL Frontline Equity Fund has a large cap bias where in it AUM in Cr. 9,792
endeavours to keep sector weightage in line with the S&P BSE Benchmark S&P BSE 200 India INR
200 index. Expense Ratio 2.26
The scheme targets to maintain sector exposure within +/- Inception Date 30-08-2002
25% or absolute +/-3%, whichever is higher, of the sectoral Fund Manager Mahesh Patil
weight in the benchmark index i.e. S&P BSE 200. Exit Load 1% for 1Y
Birla SL AMC is positive on Banking & Finance, Autos & Infra
& Negative/Neutral on IT, FMCG in line with our house view. RATIOS (For 1 year ended Sept’15)
They believe asset quality stress of banks has peaked & prefer
Beta 0.95 Alpha 5.35
Pvt. banks over PSU banks due to better capital ratios, growth
outlook and profitability. Std Dev Scheme 19.09 Index 19.87
In Technology, changing nature of demand would impact MARKET CAP BREAK UP
near term growth & rupee depreciation would lead to tailwind 56.5
to earnings
While FMCG is showing weak momentum. Also expensive 33.8
valuations & weak monsoon is a concern
Fund has collected 1,100 Cr in last 6 months. 9.0
0.7
Fund Manager:
Mahesh Patil, CIO at Birla SL AMC, has over 20 years of Giant Large Mid Small
experience in fund management, equity research and
corporate finance. 200
His track record suggests he is at his best running diversified PERFORMANCE – 5 Years
strategies in the large-cap segment. 150
He also manages Top 100, Birla SL 95, Infrastructure & Pure
Value Funds. 100
He is managing 13,800 Cr AUM in total 10 funds of Birla SL
AMC.
50
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Sep-15
Sep-11
Sep-12
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Sep-14
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Scheme Benchmark Category
TOP 5 HOLDINGS
Sector Name % Holding Company Name % Holding
BEST/WORST RETURNS (as of 30th Sept 2015)
Financial Services 30.0 HDFC Bank Ltd 6.46
Technology 17.5 Infosys Ltd 6.16 Best Month Worst Month
Consumer Cyclical 12.9 ICICI Bank Ltd 4.29
Healthcare 9.3 ITC Ltd 3.38 Fund: 31.64% Fund: -21.06%
Index: 32.36% Index: -21.36%
Reliance
Basic Materials 7.5 Industries Ltd 3.37
ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

Stock wise (Over or Under weight):
Portfolio Benchmark Sector Stock Active
Return Contribution
Weights Weights Effect Effect Return
Industrials 7.13 5.58 -0.19 0.89 0.69 Top Contributors:
Financial Services 32.71 31.38 -0.02 0.34 0.31 • Cummins India Ltd: +0.76%,
TOP 3
Communication • TATA Motors Ltd: +0.25%.
Services 0.42 2.52 0.30 0.00 0.30
Real Estate 0.22 0.00 0.01 0.00 0.01 Top Detractors:
WORST 3 Technology 14.76 15.72 -0.12 -0.03 -0.15 • Motherson Sumi Sys Ltd: -0.34%,
Consumer Cyclical 13.48 10.09 -0.08 -0.07 -0.15 • Asian Paints: -0.28%,
Attribution Total 0.41 1.72 2.13
Market Cap Definition(INR Cr.): Giant Cap: >89,000, Large Cap: 20,000-89,000, Mid Cap: 5,900-20,000, Small Cap: 1,600-5,900 & Microcap: <1,600
Source: ACE MF, Morningstar Direct.
Data is as of 30th Sept 2015 wherever not mentioned. Best & Worst performance is calculated on YoY daily rolling basis.
SBI Bluechip Fund Large Cap

 The portfolio follows a bottom- up strategy combined AUM in Cr. 2,717
with a focus on change in sector dynamics that leads to Benchmark S&P BSE 100 India
sector overweight / underweight decision. Expense Ratio 2.47
Stock selection is done based on the below parameters: Inception Date 14-02-2006
- Management who tend to consistently perform in terms of Fund Manager Sohini Andani
growth and efficient capital allocation Exit Load 1% for 1Y
- Valuations: relative to own history and change in growth
profile
RATIOS (For 1 year ended Sept’15)
- Change in leadership which can impact significantly
positively or negatively. Beta 0.86 Alpha 9.88
- Monitoring key strategic decisions by the management Std Dev Scheme 17.90 Index 20.03
which will drive the growth in next 3-5
MARKET CAP BREAK UP
years.
 Focus on generating alpha by better stock selection 80
57.2
within a sector. 60
 Midcap allocation is with a view of better growth outlook
40 27.2
and valuation gap vis-à-vis large cap peers..
 Large cap exposure typically with one year perspective, 20 15.6
whereas midcap stocks are selected with a 2-3 0
years perspective.. Giant Large Mid
 Fund doesn’t take active cash calls. Cash is maintained at
a max of 10% for liquidity and portfolio rebalancing 200 PERFORMANCE – 5 Years
purposes..
Fund Manager: 150
Sohini Andani has over 11 years of experience in the
industry. She joined SBIFM as Head of Research in 2007 and 100
was subsequently promoted as a portfolio manager in 2010.
Prior to joining SBIFM, she was a senior research analyst at 50
ING Investment Management..
She is involved in planning the macro-level strategy and 0
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
tracks the economy as part of his research responsibilities.

TOP 5 HOLDINGS
Sector Name % Holding Company Name % Holding BEST/WORST RETURNS (as of 30th Sept 2015)
Consumer Cyclical 14.8 Maruti Suzuki 6.30 Best Month Worst Month
Healthcare 12.6 Infosys Ltd 6.14 Fund: 34.10% Fund: -20.87%
Technology 11.5 RIL 5.18 Index: 31.29% Index: -25.97%
Industrials 10.0 Sun Pharma Ltd 5.14

Portfolio Benchmark Sector Stock Active Return Contribution
Healthcare 11.74 NA 1.27 NA 1.27 Top Contributors:
TOP 3 Technology • Maruti Suzuki (O/W): +1.15%
8.38 NA 0.99 NA 0.99
• Hdfc Bank (O/W): +0.30%
Consumer Defensive 7.10 NA 0.15 NA 0.15
Energy 7.73 NA -0.51 NA -0.51 Top Detractors:
WORST 3 Basic Materials 9.13 NA -0.51 NA -0.51 • Motherson Sumi (U/W): -0.51%
Industrials 10.75 NA -0.89 NA -0.89 • Tata Motors (O/W): -0.30%
Attribution Total 100.00 NA 0.00 NA 0.00
Franklin India Prima Plus Large Cap

Invests primarily in wealth creating companies (companies AUM in Cr. 5,566
that generate return on capital in excess of their cost of Benchmark IISL CNX 500 PR INR
capital) with high growth Expense Ratio 2.43
Fund Manager, Anand Radhakrishnan is benchmark Inception Date 29-09-1994
agnostic while constructing the portfolio and selects stocks Fund Manager Anand Radhakrishnan
using a bottom-up approach. Exit Load 1% for 1Y
He prefers private sector entities over their public sector
counterparts, in line with his belief that the former offer RATIOS (For 1 year ended Sept’15)
more robust business models and superior operational Beta 0.85 Alpha 10.99
efficiencies. Volatility Scheme 17.62 Index 20.08
Plying a bottom-up approach, he scouts for companies
with clean balance sheets, strong business models,
80 MARKET CAP BREAK UP
sustainable competitive strengths and high corporate
governance standards. 60
Fund generated 800 Cr flows in 6 months.
40
Fund Manager: 20
Anand Radhakrishnan, has over 18 years of experience
overall. Currently, he is CIO for Franklin India (Equity), 0
position assumed after Siva Subramanian retired on 28 Feb Giant Large Mid
2014.
He had a three-year stint with Franklin Templeton’s PMS 250.0 PERFORMANCE – 5 Years
division as a portfolio manager before he started managing
200.0
funds for AMC in April 2007.
150.0
He also manages Bluechip fund, Tax shield, Dynamic P/E &
Build India fund. 100.0
He is managing 14,500 Cr AUM in total 18 funds of Franklin 50.0
Templeton fund house. 0.0
01-Mar-12
01-Mar-11
01-Mar-13
01-Mar-14
01-Mar-15
01-Sep-15
01-Sep-10
01-Sep-11
01-Sep-12
01-Sep-13
01-Sep-14
TOP 5 HOLDINGS
Industrials 13.9 Infosys Ltd 4.99 Best Month Worst Month
Technology 13.1 ICICI Bank Ltd 4.13 Fund: 29.25% Fund: -21.93%
Consumer Cyclical 12.9 IndusInd Bank Ltd 3.72 Index: 34.43% Index: -27.23%
Healthcare 10.6 Bharti Airtel Ltd 3.70
Portfolio Benchmark Sector Stock Active Stock wise (Over or Under weight):
Weights Weights Effect Effect Return Return Contribution
Basic Materials 7.30 7.73 0.03 1.46 1.49
TOP 3 Industrials Top Contributors:
15.24 5.58 -1.24 2.49 1.25
• Indusind Bank (O/W): +0.51%,
Healthcare 11.09 7.60 0.35 0.71 1.06
• HDFC Bank (O/W): +0.40%.
Communication 4.98 2.52 -0.35 0.07 -0.29
WORST 3 Consumer Defensive 4.09 8.32 -0.19 -0.22 -0.42 Top Detractors:
Technology 12.52 15.72 -0.49 -0.15 -0.63 • Tata Motors (O/W): -0.61%,
Attribution Total -1.28 5.13 3.85 • Larsen & Toubro (O/W): -0.43%,
L&T Equity Large Cap

Invests in both growth & value stock with biasedness AUM in Cr. 2,971
towards Large Cap. Every stock is handpicked and stock Benchmark S&P BSE 200 India INR
selection is underpinned by first-hand research. Expense Ratio 2.26
An experienced fund manager, S.N.Lahiri, playing a Inception Date 16-05-2005
workable process with adequate focus on risk management Fund Manager Soumendra Nath Lahiri
has produced pleasing results for this fund. Exit Load 1% for 1Y
The analysts derive price targets for the stocks and also
run sector neutral portfolios for the sectors, which serve as RATIOS (For 1 year ended Sept’15)
guides to the fund manager while investing. Beta 0.93 Alpha 6.33
The fund (up 23% annualised) has managed to beat the
benchmark (up 17% annualised) as well as the peer group Std Dev Scheme 19.03 Index 19.87
average (up 22% annualised) since November 2012.
60 MARKET CAP BREAK UP
L&T AMC is overweight on Banks, Autos & Infrastructure
while underweight on Consumer Staples & Pharmaceuticals.
Scheme is overweight on Infrastructure through positions 40
in Shree Cement, Ramco , Ambuja & Ultratech
Fund generated 300 Cr flows in 6 months. 20
Fund Manager: 0
Soumendra Nath Lahiri, who has about 20 years of Giant Large Mid Small
experience on the investment side, has been managing or
advising on portfolios for the past eight years. PERFORMANCE – 5 Years
He also manages Emerging Business, Mid cap fund, Tax 180
Advantage & Special Situations fund. 150
He is managing 6,700 Cr AUM in total 8 funds of L&T AMC.
120
90
60
30
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Sep-10
Mar-11
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Mar-12
Mar-13
Mar-14
Mar-15
TOP 5 HOLDINGS Scheme Benchmark Category
Financial Services 26.7 Infosys Ltd 7.04
Industrials 16.0 HDFC Bank Ltd 6.01
Consumer Cyclical 15.0 Larsen & Toubro Ltd 3.97 Best Month Worst Month
Kotak Mahindra
Technology 12.8 Bank Ltd 3.67 Fund: 26.67% Fund: -21.49%
Tata Consultancy Index: 32.36% Index: -26.36%
Basic Materials 9.9 Services Ltd 3.51
Consumer Cyclical 15.27 10.09 -0.13 1.20 1.07
TOP 3 Energy 4.35 8.14 0.41 0.40 0.81 Top Contributors:
• TATA Motors (U/W): +0.73%,
Basic Materials 10.31 7.73 -0.27 0.86 0.59
• Gateway Distriparks (O/W): +0.54%.
Real Estate 0.41 0.00 -0.09 0.00 -0.09
Consumer Top Detractors:
WORST 3
Defensive 5.93 8.32 -0.09 -0.31 -0.40 • Asian Paints Ltd (U/W): -0.45%,
Technology 10.67 15.72 -0.80 -0.16 -0.96 • Motherson Sumi(U/W): -0.22%,
Attribution Total -2.19 4.61 2.42
MID CAP FUNDS
• Franklin India Prima Fund
• HDFC Mid Cap Opportunities Fund
• Canara Robeco Emerging Equities Fund
• ICICI Pru Mid Cap Fund
Franklin India Prima Fund Mid Cap

Invests predominantly in small and mid-sized companies AUM in Cr. 3,781
that helps investors buy into tomorrow's blue chips and Benchmark IISL CNX 500 PR INR
market leaders at today's prices. Expense Ratio 2.35
Fund Manager, R. Janakiraman’s style of investing in high- Inception Date 01-12-1993
quality mid-caps with predictable businesses has Fund Manager R. Janakiraman
contributed to this fund’s success over the past three years. Exit Load 1% for 1Y
He will pay what he feels is the right price for a stock with
regard to the growth prospects of the business and
generally avoids expensive areas of the market
He is aware that it is difficult to forecast earnings in Beta 0.83 Alpha 13.08
small/mid-caps over a longer time frame given the Volatility Scheme 17.88 Index 20.08
unpredictable nature of their cash flow hence he uses
MARKET CAP BREAK UP
historical five-year data as a yardstick to project five years
ahead 60 50.1
He is prepared to be patient as his stock ideas play out and
his investment horizon typically spans a business cycle, as is 40 30.2
borne out by the low turnover ratios (March 2014: 31%,
20 9.3 10.5
March 2013: 39%, March 2012: 57%).
Fund generated 400 Cr flows in 6 months. 0
Giant Large Mid Small
Fund Manager:
R. Janakiraman, has over 18 years of experience overall.
He was named co-manager in Feb 2008 and later was PERFORMANCE – 5 Years
250
elevated to his current position.
He has had extensive experience in small/mid-caps 200
research and brings this experience to the fore in managing
this fund 150
He also manages Flexi Cap, co manages Prima plus fund. 100
He is managing 10,000 Cr AUM in 3 funds of Franklin
Templeton. 50
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Mar-11
Mar-12
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Sep-10
Sep-11
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Sep-13
Sep-14
Sep-15
TOP 5 HOLDINGS
Financial Services 24.9 Yes Bank Ltd 4.34
Torrent
Best Month Worst Month
Industrials 18.9 Pharmaceuticals Ltd 3.28
Amara Raja Batteries Fund: 36.59% Fund: -26.41%
Consumer Cyclical 13.8 Ltd 2.97 Index: 38.66% Index: -28.30%
Technology 13.4 HDFC Bank Ltd 2.64
Basic Materials 11.5 IndusInd Bank Ltd 2.58
Consumer Cyclical 12.52 16.64 0.12 0.92 1.04
TOP 3 Basic Materials 12.29 11.04 -0.10 0.29 0.19 Top Contributors:
Consumer Defensive 0.00 9.64 0.11 0.00 0.11 • Motherson Sum (U/W): +0.58%,
Real Estate 1.33 0.82 0.09 -0.55 -0.47 • Himatsingka Seide Ltd (O/W): +0.53%.
WORST 3 Industrials 19.17 13.50 -0.11 -0.39 -0.51
Financial Services 25.00 17.70 0.16 -1.23 -1.07 Top Detractors:
Attribution Total -0.02 -1.69 -1.71 • Indiabulls Housing Fin (U/W): -0.95%,
• Yes Bank (O/W): -0.79%
HDFC Mid Cap Opp Fund Mid Cap

Launched just six months before the economic crisis in AUM in Cr. 10,531
2008, the fund proved its mettle immediately when it Benchmark IISL CNX Mid Cap PR INR
managed to contain the downside better than its peers. In Expense Ratio 2.29
fact, the fund manages to do well in both bull and bear Inception Date 25-06-2007
phases of the market. Fund Manager Chirag Setalvad
The second largest fund in the category, its asset size has Exit Load 1% for 1Y
almost doubled this year owing to its improved equity
performance. RATIOS (For 1 year ended Sept’15)
An impressive performer on fund manager, Chirag Beta 0.80 Alpha 3.78
Setalvad, watch (since June 2007), fund has given 18%
annualized, outperforming CNX Midcap by 8%. Std. Dev Scheme 19.38 Index 23.26
Fund Manager is benchmark agnostic & has shown
willingness to go against it. E.g. in a rising market of 2009, MARKET CAP BREAK UP
when high beta stocks fared the best, his quality & valuation
50 44.9
consciousness led him to be overweight on consumer
defensive. 40 33.1
His investing style can be characterised as growth at a 30
reasonable price. Emerging businesses with untested 18.3
20
models or simply attracted business don’t find favor with
10 3.7
him.
Fund generated 800 Cr flows in last 6 months is very high 0
as compared to its peers which are at 100-200 Cr flows. Giant Large Mid Small
Fund Manager: PERFORMANCE - 5 Years

Chirag Setalvad, boasts roughly 13 years of experience in 300
research & portfolio management, making him one of the 250
200
most seasoned investors in the category.
150
He has had 2 stints with HDFC AMC, initially from June
100
2000 to Aug 2004 & then from Mar 2007 till now, both as
50
fund manager.
0
He also manages Balanced, Long Term Advantage, Capital
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Builder and Mid & Small cap fund.
He is managing 17,000 Cr AUM in 8 funds of HDFC AMC.
TOP 5 HOLDINGS
Basic Materials 12.6 CBLO 5.09 Best Month Worst Month
Consumer
Cyclical 18.6 Bajaj Finance Ltd 2.80 Fund: 28.30% Fund: -23.91%
Index: 38.66% Index: -28.30%
Financial Services 22.5 Torrent Pharma Ltd 2.43
Healthcare 11.1 Aurobindo Pharma Ltd 2.26
Industrials 19.5 Divi's Laboratories Ltd 2.25

Consumer Cyclical 17.05 16.64 -0.06 1.58 1.52
Top Contributors:
TOP 3 Technology 10.56 5.88 0.15 0.44 0.59
• Motherson Sumi(U/W): +0.77%,
Consumer Defensive 2.23 9.64 0.08 0.06 0.14 • Jagran Prakashan Ltd(O/W): +0.39%.
Healthcare 10.72 13.32 -0.23 0.15 -0.08
WORST 3 Real Estate 0.00 0.82 -0.16 0.00 -0.16 Top Detractors:
Financial Services 22.46 17.70 0.10 -1.21 -1.11 • Indiabulls Housing (U/W): -0.86%,
Attribution Total -0.54 1.48 0.94 • Ashok Leyland (U/W): -0.56%,
Canara Robeco Emerging Equities Fund Mid Cap
SCHEME DESCRIPTION
SCHEME INFO
Canara Robeco Emerging Equities follows bottom up
AUM in Cr. 755
approach to predominantly invest in mid & small cap
Benchmark CNX Midcap INR
companies. The fund defines mid & small cap companies as
the companies which fall in the range of 151 to 500 ranked Expense Ratio 2.93
on the basis of market capitalisation. The fund seeks to Inception Date 11-03-2005
identify those companies that have the potential to become Fund Manager Ravi Gopalakrishnan
leaders of tomorrow in their respective sectors. Exit Load 1% for 1.5Y
Invests into stocks whose market capitalization could be RATIOS (For 1 year ended Sept’15)
considered as medium (mid-cap stocks) with an intention to
provide long term growth opportunities to investors.
Std Dev Scheme 22.88 Index 23.26
 The investment process displays a growth bias. Fund
Manager seeks out companies with scalable businesses that MARKET CAP BREAK UP
they believe can double profits in three to four years.
 The fund follows a blend of 'Growth' and 'Value' style of 60
45.5
Investing 36.1
40
20 12.6
Fund Manager: 1.6 4.2
 Ravi Gopalakrishnan is the Head - Equities for Canara 0
Robeco Asset Management Company. He has been with Giant Large Mid Small Micro
Canara Robeco AMC since September 2012.
 He brings to this position over 23 years of rich experience PERFORMANCE – 5 Years
in research and asset management. Prior to joining Canara 300
Robeco, Mr. Gopalakrishnan served as Chief Investment 250
Officer of Equity at Pramerica Asset Managers Pvt Ltd.
200
 At present he manages Canara Robeco Equity Diversified, 150
Canara Robeco Large Cap+ Fund, Canara Robeco Emerging 100
Equities & Canara Robeco MIP. 50
0
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
TOP 5 HOLDINGS

Industrials 25.7 Cblo 3.85 Scheme Benchmark Category
Basic Materials 15.8 IndusInd Bank Ltd 3.50 BEST/WORST RETURNS (as of 30th Sept 2015)
Divi's Laboratories
Consumer Cyclical 12.3 Ltd 2.49 Best Month Worst Month
Britannia
Technology 12.3 Industries Ltd 2.44 Fund: 44.49% Fund: -31.65%
Financial Services 11.5 Atul Ltd 2.16 Index: 38.66% Index: -28.30%
Industrials 26.62 5.58 -2.79 5.32 2.53
Top Contributors:
TOP 3 Consumer Cyclical 11.82 10.09 -0.04 2.23 2.19 • Maruti Suzuki (O/W): +0.85%,
Basic Materials 17.58 7.73 -1.11 2.94 1.83 • Tata Motors (U/W): +0.65%.
Real Estate 0.01 0.00 0.01 0.00 0.01
WORST 3 Healthcare 4.26 7.60 -0.45 0.22 -0.23 Top Detractors:
Technology 10.35 15.72 -0.80 -1.21 -2.00 • Motherson Sumi (O/W): -0.41%,
Attribution Total -4.58 11.36 6.78 • Asian Paints (U/W): -0.39%,
ICICI Pru Mid Cap Mid Cap

The Scheme focuses on identifying high growth companies AUM in Cr. 1,285
operating in midcap space that are likely to transform into Benchmark IISL CNX Mid Cap PR INR
tomorrow’s market leaders resulting in capital appreciation Expense Ratio 2.80
over time. Inception Date 28-10-2004
Launched in October 2004 as ICICI Prudential Emerging Fund Manager Mrinal Singh
S.T.A.R. Fund, it underwent a transformation in September Exit Load 1% for 1Y
2011 and was rechristened as ICICI Prudential Midcap Fund.
The fund’s investment universe was redefined to stocks
that fall within the market capitalisation range of CNX
Midcap index, resulting in at least 70% of stocks in the Beta 0.87 Alpha 1.22
portfolio now within this range. Std dev Scheme 21.32 Index 23.26
Fund Manager, Mrinal Singh has expertise in value
MARKET CAP BREAK UP
investing & mid/small cap is his forte, both of which he is
playing here.
He is averse to investing in highly leveraged businesses. 50 42.40
He is patient with his investments, which is a strategy that 40 32.40
gels well with his investment philosophy and fund’s mid-cap 30
focus. 17.10
20
He prefers to manage the fund rather aggressively by 5.90
10 2.10
maintaining a concentrated portfolio, with top 10 stocks
accounting for 45-50% of assets. 0
Giant Large Mid Small Micro
Fund Manager:
Mrinal Singh, has experience of over 8 years in the PERFORMANCE – 5 Years
industry. He is associated with ICICI Pru AMC form June 250
2008 till date. He started with ICICI Pru as an Equity Analyst.
200
He also manages Technology Fund, Value Discovery fund,
Dividend yield Equity Fund & Cap Pros. 150
He is managing 11,500 Cr AUM in total 11 funds of ICICI
100
Pru AMC.
During his stint as an analyst, he was the investment 50
team’s small/mid-cap specialist. His willingness to be patient 0
with smaller-cap fare gels well with the valuation-conscious
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
approach.

TOP 5 HOLDINGS
Industrials 20.8 Welspun India 4.84
Consumer Cyclical 19.3 Bharat Forge Ltd 4.27 Best Month Worst Month
Basic Materials 7.1 Bajaj Finserv Ltd 3.82 Fund: 30.28% Fund: -24.31%
Technology 5.4 Federal Bank Ltd 3.21 Index: 43.19% Index: -31.16%

Basic Materials 7.03 11.04 0.35 0.42 0.77 Top Contributors:
TOP 3 Consumer Cyclical 21.08 16.64 -0.14 0.60 0.46 • Welspun (O/W): +1.67%,
Financial Services 29.57 17.70 0.20 -0.02 0.18 • Bank of baroda (O/W): +0.61%.
Utilities 4.95 4.29 0.01 -0.23 -0.22
WORST 3 Industrials 19.88 13.50 -0.07 -0.37 -0.44 Top Detractors:
Healthcare 3.88 13.32 -0.83 0.35 -0.48 • Indiabulls Housing (U/W): -1.11%,
Attribution Total -0.61 0.66 0.05 • Ashok Leyland (U/W): -0.69%
FLEXI CAP FUNDS
• ICICI Pru Value Discovery Fund
• Birla SL Advantage Fund
• Motilal Oswal Most Focussed Multicap 35 Fund
ICICI Pru Value Discovery Fund Flexi Cap

The scheme focuses on identifying value stocks that are AUM in Cr. 10,252
likely to transform into tomorrow’s market leaders resulting Benchmark IISL CNX Mid Cap PR INR
in potential capital appreciation over time. Expense Ratio 2.34
A competent manager, Mrinal Singh and a sound Inception Date 16-08-2004
investment approach are this fund’s most appealing aspects. Fund Manager Mrinal Singh
Until mid-2014, Singh invested predominantly in the Exit Load 1% for 1Y
small/mid-cap segment. However, since then, the allocation
to large-cap in the portfolio has increased significantly.
Under his watch (since Feb 2011), the fund has produced RATIOS (For 1 year ended Sept’15)
competent showing on the returns. It has posted CAGR of Beta 0.76 Alpha 0.38
22% and outscored the benchmark CNX Midcap (by 10%
p.a.) and the category average (by 4% p.a.) Std Dev Scheme 18.80 Index 23.26
Fund Manager believes that Indian IT peers may benefit
from several billion dollar worth of renewal deals which has
potential to power growth in the sector and thus the MARKET CAP BREAK UP
scheme is overweight on Software.
Scheme remained relatively overweight on Software, Auto 50 38.1
and Transportation sectors. It is relatively underweight on 40 30.4
30 24.4
Pharma & Healthcare Services, Consumer Non-Durables &
Retailing and Banks & Finance sectors. 20 6.3
10 0.7
Fund has collected 1200 Cr+ corpus in last 6 months
0
showing high acceptance in the market.
Fund Manager:
Mrinal Singh, has experience of over 8 years in the PERFORMANCE – 5 Years
industry. He is associated with ICICI Pru AMC form June
2008 till date. He started with ICICI Pru as an Equity Analyst. 300.0
He also manages Technology Fund, Midcap fund, Dividend 200.0
yield Equity Fund & Cap Pros.
100.0
Pru AMC. 0.0
Mar-15
Mar-11
Mar-12
Mar-13
Mar-14
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
During his stint as an analyst, he was the investment
team’s small/mid-cap specialist. He plays to his strengths
here, running a small/mid-cap portfolio and his willingness
to be patient with smaller-cap fare gels well with the Scheme Benchmark Category
valuation-conscious approach.
TOP 5 HOLDINGS BEST/WORST RETURNS (as of 30th Sept 2015)

Industrials 21.4 NTPC Ltd 6.63 Best Month Worst Month
Fund: 32.22% Fund: -25.81%
Consumer Cyclical 14.2 Larsen & Toubro Ltd 3.54
Index: 28.07% Index: -26.41%
Technology 11.6 Reliance Industries Ltd 3.19
Basic Materials 10.0 Infosys Ltd 3.16

Industrials 21.14 5.58 -1.90 3.01 1.11
TOP 3 Financial Services 18.40 31.38 0.08 1.00 1.07 Top Contributors:
• Amara Raja Batteries(O/W): +0.57%,
Basic Materials 10.00 7.73 -0.27 1.16 0.89
• Maruti Suzuki (O/W): +0.49%.
Utilities 6.90 2.92 -0.12 0.17 0.06
WORST 3 Technology 11.32 15.72 -0.68 0.22 -0.46 Top Detractors:
Consumer Defensive 5.06 8.32 -0.14 -0.36 -0.50 • TATA Motors (O/W): -0.78%,
Attribution Total -2.70 6.11 3.41 • L&T (O/W): -0.33%,
Data is as of 30th Sept2015 wherever not mentioned. Best & Worst performance is calculated on YoY daily rolling basis.
Birla SL Advantage Fund Flexi Cap

Fund adopts a flexi cap strategy with emphasis on Mid and AUM in Cr. 570
Small caps and plays the broader business cycles. Benchmark S&P BSE 200 India INR
The fund intends to play the broader long term economic Expense Ratio 2.82
recovery and not just a cyclical recovery thereby it has Inception Date 24-02-1995
focused investments in Private banks where asset quality Fund Manager Satyabrata Mohanty
concerns and growth trajectory seem to be better than their Exit Load 1% for 1Y
PSU counterparts
A blend of bottom up approach (for stock selection) and
top down approach (for sector allocation) is used for RATIOS (For 1 year ended Sept’15)
portfolio construction. Top Down Approach - continuous Beta 1.07 Alpha 14.96
efforts made on evaluating global and India macro trends &
Bottom up stock picking - risk reward is hugely in favour to Std Dev Scheme 22.93 Index 19.87
take advantage of mispriced opportunities.
Focus on high growth and fundamentally strong
companies has led to investments multiplying 28x compared MARKET CAP BREAK UP
to 9x in the S&P BSE 200
The Mid and Small cap exposure in the fund has over the 60 43.8
past few years has been ~45%, giving an opportunity to
40 24.1
create incremental alpha 22.4
20 8.9
0.8
Fund Manager:
0
Satyabrata Mohanty, has total experience of over 15 years
incl. 12 years in Finance & Research. He has been associated
with Birla SL AMC since 2007
200 PERFORMANCE – 5 Years
He also manages Asset Allocation funds, Equity Savings,
Emerging Leaders, MIPs & Nifty ETF. 150
100
50
TOP 5 HOLDINGS 0
May-12
Apr-15
Sep-10
Feb-11
Jul-11
Dec-11
Aug-13
Nov-14
Sep-15
Jan-14
Mar-13
Jun-14
Oct-12

Financial Services 30.2 Eicher Motors Ltd 5.83
Consumer Cyclical 17.9 HDFC Bank Ltd 5.22
Maruti Suzuki
Industrials 16.3 India Ltd 4.97
Healthcare 15.5 Axis Bank Ltd 4.32
Basic Materials 9.0 Natco Pharma Ltd 4.13 Best Month Worst Month
Fund: 36.94% Fund: -23.09%

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015) Index: 28.07% Index: -26.41%

Basic Materials 10.35 7.73 -0.29 1.91 1.61 Stock wise (Over or Under weight):
TOP 3 Industrials 16.75 5.58 -1.50 2.91 1.41 Return Contribution
Healthcare 14.04 7.60 0.84 0.26 1.10
Consumer Cyclical 21.23 10.09 -0.30 0.27 -0.03 Top Contributors:
Consumer • TATA Motors (U/W): +1.45%,
WORST 3
Defensive 2.21 8.32 -0.28 0.01 -0.27 • Cummins India (O/W): +0.85%.
Technology 6.91 15.72 -1.37 -0.39 -1.76
Attribution Total -1.44 5.52 4.09 Top Detractors:
• Motherson Sumi (O/W): -0.69%,
• Yes Bank (O/W): -0.35%,
Motilal MOST Focused Multicap 35 Flexi Cap

 The investment objective of the Scheme is to achieve AUM in Cr. 2775
long term capital appreciation by primarily investing in a Benchmark IISL CNX 500 PR INR
maximum of 35 equity & equity related instruments across Expense Ratio 1.45
sectors and market-capitalization levels. Inception Date 4/28/2014
Fund Manager Gautam Sinha Roy
The Allocations in equities varies from (65 – 100%), Debt Exit Load 0%
(0 – 35%) and the fund can invest upto 10% in Foreign
Equities.
MOSt Focused Multicap 35 would endeavour to construct
such a portfolio that the product is best suited for medium Beta Alpha
and long term investment.
Std Dev Scheme 20.29 Index 19.87
 Fund is presently heavy on Banks & Auto.
MARKET CAP BREAK UP
60 46.9
Fund Manager: 41
 Mr. Gautam Sinha Roy is B.E (Honors) from Jadavpur 40
University, Kolkata and PGDM from IIM-Calcutta. Mr. Roy
20 12.2
has 11 years of rich experience in fund management and
research.
0
 He also manages Motilal Oswal MOSt Focused Long Term Giant Large Mid
Fund.
PERFORMANCE – 1 Years
200
150
100
TOP 5 HOLDINGS 50
Sector Name % Holding Company Name % Holding 0
Jun-14
Jun-15
Oct-14
Apr-14
Apr-15
Aug-14
Aug-15
Dec-14
Feb-15
Maruti Suzuki
Financial Services 32.1 India Ltd 9.45
Consumer Cyclical 17.8 HDFC Bank Ltd 8.84
Britannia Fund Benchmark category
Technology 12.4 Industries Ltd 7.95
Energy 11.9 IndusInd Bank Ltd 7.84 BEST/WORST RETURNS (as of 30th Sept 2015)
Tata Consultancy
Healthcare 11.5 Services Ltd 7.67 Best Month Worst Month
Fund: 10.11% Fund: -6.05%

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015) Index: 10.41% Index: -6.15%

Basic Materials 10.35 7.73 -0.29 1.91 1.61 Stock wise (Over or Under weight):
TOP 3 Industrials 16.75 5.58 -1.50 2.91 1.41 Return Contribution
Healthcare 14.04 7.60 0.84 0.26 1.10
Consumer Cyclical 21.23 10.09 -0.30 0.27 -0.03 Top Contributors:
Consumer • Hindustan Petro(O/W): +2.16%,
WORST 3
Defensive 2.21 8.32 -0.28 0.01 -0.27 • Tata Motors (U/W): +1.66%.
Technology 6.91 15.72 -1.37 -0.39 -1.76
Attribution Total -1.44 5.52 4.09 Top Detractors:
• Ajantha Pharma (O/W): -0.62%,
• United Spirits (O/W): -0.32%,
THEMATIC FUNDS
• Franklin Build India Fund
• Reliance Banking Fund
Franklin Build India Fund Thematic

The Scheme invests in stocks of companies engaged in the
area of infrastructure across industries like Banking & AUM in Cr. 535
Financial Services, Capital Goods, Cement, Construction, Benchmark S&P BSE SENSEX India INR
Power, Ports, Telecommunication, Transportation etc Expense Ratio 2.91
Fund has collected 200 Cr+ corpus in last 6 months Inception Date 04-09-2009
Fund Manager Anand Radhakrishnan
View on Infrastructure Sector Exit Load 1% for 2Y
We believe the construction sector is on a structural
uptrend with economic recovery likely to lead to strong
growth accompanied by significantly improved operating
performance, driving robust shareholder returns RATIOS (For 1 year ended Sept’15)
Key drivers are: Regulatory reform process gathering
pace, leading to relief on execution front, faster clearances,
new dispute resolution mechanism and amendment of
regulatory framework to drive infra growth Volatility Scheme 19.44 Index 19.73
Planned infrastructure spend on roads is 8 lakh cr and
rail 8.5 lakh cr in next 5-7 years compared to around 2.5 MARKET CAP BREAK UP
lakh cr for last 5 years 50 45.5
Fresh impetus of investment in Power distribution
with Coal auction unlocked total INR 40,000 cr till March 40
27.6
30
Fund Manager: 17.5
20
Anand Radhakrishnan, has over 18 years of experience 10 6.5
2.9
overall. Currently, he is CIO for Franklin India (Equity),
position assumed after Siva Subramanian retired on 28 Feb 0
2014. Giant Large Mid Small Micro
He had a three-year stint with Franklin Templeton’s PMS
division as a portfolio manager before he started managing
funds for AMC in April 2007. PERFORMANCE – 5 Years
He also manages Franklin Prima Plus, Bluechip fund, Tax
shield & Dynamic P/E. 250.0
He is managing 14,500 Cr AUM in total 18 funds of Franklin 200.0
Templeton fund house. 150.0
100.0
50.0
0.0
Mar-14
Mar-11
Mar-12
Mar-13
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
TOP 5 HOLDINGS Scheme Benchmark Category
Maruti Suzuki India
Consumer Cyclical 24.8 Ltd 6.13
Industrials 15.1 Axis Bank Ltd 6.11 Fund: 15.86% Fund: -10.71%
Index: 11.67% Index: -10.64%
Basic Materials 10.0 State Bank of India 5.98
Communication
Services 8.5 ICICI Bank Ltd 5.81
Reliance Banking Fund Thematic
SCHEME DESCRIPTION
SCHEME INFO
Reliance Banking Fund follows an active strategy of
management with endeavor to generate alpha and
outperform the Banking Index. AUM in Cr. 2,129
Combination of large and mid cap companies that may Benchmark CNX Bank
provide rapid growth along with some steady performers. Expense Ratio 2.37
Fund is overweight on Private Banks with allocation % at Inception Date 26-05-2003
65%, Public banks – 13% , NBFC – 13%, Housing – 4% & rest Fund Manager Sanjay Parekh
others. Exit Load 1% for 1Y
View on Banking Sector

With RBI as a regulator, Indian banking system remains
healthy to cope up with this prolonged slowdown
With GDP growth at its trough and interest rates at its
interim peak (especially on the short end) - valuations have
corrected meaningfully, and risk-reward ratio remains Beta 0.90 Alpha 0.59
favorable from a medium term time frame (1-2 years) Std Dev Scheme 25.83 Index 28.27
Private Banks segment continues to be preferable over
Public Banks due to improved profile on account of
deleveraging risky assets, more durable NIMs and better risk
to reward ratio. MARKET CAP BREAK UP
Fund Manager:
Sanjay Parekh, Senior Fund Manager at Reliance AMC has 80
61.8
more than 20 years of experience in Capital Market. 60
He also manages Regular Savings Balanced plan, Monthly
Income Plan & Retirement plans 40
19.6 15.4
20
2.9 0.3
0
200
TOP 5 HOLDINGS
150
100
Banks 78.73 HDFC Bank Ltd 27.62
Finance 19.09 ICICI Bank Ltd 13.77 50
Others 1.94 Axis Bank Ltd 10.93
Cash & Cash 0
Equivalent 0.24 Yes Bank Ltd 6.52
Jun-12
Jan-13
Mar-14
Oct-14
Aug-13
May-15
Apr-11
Sep-10
Nov-11
State Bank of India 5.01
Scheme Benchmark
BALANCED FUNDS
• HDFC Balanced Fund
• ICICI Pru Balanced Advantage Fund
• Edelweiss Absolute Return Fund
HDFC Balanced Fund Balanced

Invests in both equities and in debt - to benefit from both AUM in Cr. 4,570
asset classes Benchmark CRISIL Balanced Fund
Expense Ratio 2.11
Equity strategy focuses on long term focus, multi cap
strategy, high quality companies & effective diversification Inception Date 11-09-2000
to reduce risks Fund Manager Chirag Setalvad
Exit Load 1% for 1Y
Debt strategy - Actively managed based on the interest
rate outlook. Securities are selected after assessing credit,
interest rate and liquidity risk RATIOS (For 1 year ended Sept’15)
Fund with a track record of 20 years (with 20% CAGR) Beta 0.79 Alpha 6.25
across several cycles, across good and bad times, is well Volatility Scheme 14.52 Benchmark 9.99
positioned to benefit from improving economic
environment, and from positive outlook of equities and
bonds MARKET CAP BREAK UP
Currently portfolio holds 70% in Equity & 30% in debt with
Mod Duration at 6.16 yrs & YTM at 8.41% with an 60
46.3
expectation of rate cut in 15-18 months period.
40
Fund has collected 900 Cr+ corpus in last 6 months 24.5
16.8
20 10.3
2.1
Fund Manager: 0
Chirag Setalvad, boasts roughly 13 years of experience in
research & portfolio management, making him one of the
250 PERFORMANCE – 5 Years
most seasoned investors in the category.
200
He has had 2 stints with HDFC AMC, initially from June 150
2000 to Aug 2004 & then from Mar 2007 till now, both as
fund manager. 100
50
He also manages Mid cap fund, Long Term Advantage,
0
Capital Builder and Mid & Small cap fund.
May-11
Sep-11
May-12
May-13
May-14
May-15
Sep-10
Sep-12
Sep-13
Sep-14
Jan-11
Jan-12
Jan-13
Jan-14
Jan-15
9/30/2015
He is managing 17,000 Cr AUM in 8 funds of HDFC AMC.

TOP 5 HOLDINGS
Financial Services 25.9 CBLO 8.68
Technology 16.7 Infosys Ltd 5.97 Best Month Worst Month
Industrials 13.3 HDFC Bank Ltd 4.63
Fund: 20.42% Fund: -19.52%
Healthcare 11.0 ICICI Bank Ltd 4.08 Index: 20.42% Index: -18.46%
Consumer Cyclical 10.9 Reliance Industries Ltd 3.79
Return Contribution
Basic Materials 9.71 7.73 -0.24 1.29 1.05
Communication Top Contributors:
TOP 3
Services 1.88 2.52 0.09 -0.02 0.07 • Abbott India (O/W): +0.64%,
Consumer Cyclical 12.80 10.09 -0.08 0.38 0.30 • TATA Motors (U/W): +0.36%.
Industrials 14.03 5.58 -1.09 1.67 0.57
WORST 3 Technology 14.20 15.72 -0.24 0.37 0.13 Top Detractors:
Utilities 1.41 2.92 0.09 0.11 0.21 • ITC Ltd (U/W): -0.38%,
Attribution Total -0.91 4.80 3.90 • Symphony Ltd (O/W): -0.33%,
ICICI Pru Balanced Advantage Fund Balanced

Generates low volatility returns by investing in a judicious AUM in Cr. 9,019
mix of cash equities, equity derivatives and debt markets. Benchmark CRISIL Balanced Fund
The Scheme uses an in-house model, based on a long- Expense Ratio 2.66
term historical mean Price to Book Value (P/BV), with a view Inception Date 30-12-2006
to limit the downside risk during a falling market, while Fund Manager Manish Gunwani
aiming to capture the upside in a rising market. Exit Load 1% for 1.5Y
Net Equity Exposure can go down to as low as 30%,
depending on market valuation.
The Scheme will use derivative instruments for the RATIOS (For 1 year ended Sept’15)
purpose of hedging or portfolio rebalancing or for any other
stock and/or index strategies. Beta 0.45 Alpha 4.53
The scheme remained relatively overweight on Volatility Scheme 7.91 Benchmark 9.99
Agriculture & Agri Input, Power and Auto Ancillaries. It
remained relatively underweight on Software, Consumer MARKET CAP BREAK UP
Non Durables & Retailing and Banks & Finance. 60 52
Fund Manager believes the uncertainty around monsoon, 50
timing of rate hike by the US Fed, Greece situation and
40 30.8
subdued corporate earnings could keep equity markets on
edge and volatility may continue in the near term. But long 30
term India growth story remains intact. 20 15.4
Fund has collected 1,700 Cr+ corpus in last 6 months 10 1.8
showing huge acceptance in the market 0.1
0
Fund Manager:
Manish Gunwani has over 17 years of experience in the PERFORMANCE – 5 Years
industry. He was associated with ICICI Pru’s PMS division 200
since June 2010, before joining the mutual fund arm in Jan
2012. 150
He also manages Focused Bluechip, 3 series of equity 100
growth fund. 50
He is managing 15,000 Cr AUM in total 7 funds of ICICI Pru
AMC. 0
May-13
May-11
May-12
May-14
May-15
Sep-11
Sep-10
Sep-12
Sep-13
Sep-14
Sep-15
Jan-15
Jan-11
Jan-12
Jan-13
He is involved in planning the macro-level strategy and Jan-14

tracks the economy as part of his research responsibilities.

TOP 5 HOLDINGS
Financial Services 25.7 1.44% Inflation Index 7.27
Technology 18.3 HDFC Bank Ltd 5.44
Consumer Cyclical 11.8 8.60% Govt Stock 2028 4.94
Basic Materials 9.7 Cnx Nifty Index $$ 4.42 Fund: 14.71% Fund: -15.87%
Healthcare 9.2 7.72% GS 2025 4.10 Index: 15.42% Index: -17.46%
Financial Services 26.56 31.38 0.04 1.14 1.17
TOP 3 Healthcare 9.49 7.60 0.34 0.63 0.97 Top Contributors:
Industrials 4.06 5.58 0.21 0.61 0.81 • TATA Motors (U/W): +0.55%,
Utilities 4.02 2.92 0.06 -0.09 -0.03 • Alembic Pharma (O/W): +0.41%.
WORST 3 Consumer Defensive 7.91 8.32 0.02 -0.08 -0.06
Top Detractors:
Consumer Cyclical 12.27 10.09 -0.05 -0.37 -0.42
• TCS (U/W): -0.51%,
Attribution Total 1.03 2.30 3.34 • Tech Mahindra (O/W): -0.45%,
Edelweiss Absolute Return Fund Balanced

Scheme invests 65-85% in long only Equity, 5-10% in AUM in Cr. 482
Special Situation trades(if available) & Rest in short NIFTY, Benchmark CRISIL MIP Blended
Debt or Arbitrage trades depending on markets. Hedging Expense Ratio 2.86
portfolio levels depend on 3 factors: Volatility and NIFTY Inception Date 20-08-2009
Short term & long term trends. Fund Manager Ashish Sahay, Kartik Soral
Fund’s endeavor is to capture at-least 60% of market in Exit Load 1% for 1Y
upside and to protect by restricting the participation at 20%
on downside.
Key Benefits: RATIOS (For 1 year ended Sept’15)
Participation on the upside: Endeavour to provide
investors with 60%-70% of the Nifty upside in any twelve Beta 0.62 Alpha 10.09
months period. Volatility Scheme 10.66 Benchmark 9.99
Protection from the downside: Endeavour to restrict
investor losses to less than one fifth in any 12 months period MARKET CAP BREAK UP
Low volatility: Protect investors from the volatility that is
60 52.2
inherent in Indian equity markets by keeping its volatility
less than one third of NIFTY.
The fund provides uncorrelated returns to the market by 40 29.6
using a multi strategy approach & has a low beta of ~0.15 18.1
relative to Nifty. 20
0.1
Fund Manager: 0
Ashish Sahay, has an overall work experience of more Giant Large Mid Micro
than 5 years. He has been associated with the AMC since
November 2012 in the Equity Fund Management function. PERFORMANCE – 5 Years
200
Prior to joining the AMC, Mr. Sahay was associated with
150
Procter & Gamble Ltd., India, as Senior Financial Analyst for
over 2 years. 100
He also manages all the Equity funds at Edelweiss AMC 50
like EDGE TOP 100, ELSS, Select Midcap & Value 0
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Opportunities Fund.
He is managing 15,000 Cr AUM in total 7 funds of ICICI Pru
AMC.
Scheme Benchmark
TOP 5 HOLDINGS

Healthcare 14.2 Bank Nifty Future 3.74 BEST/WORST RETURNS (as of 30th Sept 2015)
Consumer
Defensive 14.1 Maruti Suzuki India Ltd 3.44 Best Month Worst Month
Tata Consultancy
Technology 14.1 Services Ltd 3.27 Fund: 7.62% Fund: -3.94%
Consumer Cyclical 11.2 Reliance Industries Ltd 3.21 Index: 7.02% Index: -4.06%

Consumer Cyclical 7.68 10.09 0.07 0.97 1.04
TOP 3 Basic Materials 2.50 7.73 0.54 0.40 0.94 Top Contributors:
Financial Services 34.91 31.38 -0.02 0.92 0.90 • Britannia Ind (O/W): +0.79%,
Consumer Defensive 14.55 8.32 0.29 -0.58 -0.29 • Bajaj Finance (O/W): +0.49%.
Communication
WORST 3 Top Detractors:
Services 6.66 2.52 -0.57 0.06 -0.51
• IDFC (O/W): -0.54%,
Technology 11.64 15.72 -0.58 -0.88 -1.46
• TCS (U/W): -0.31%,
Attribution Total -0.13 2.52 2.39
Data is as of 30th Sept2015 wherever not mentioned. Best & Worst performance is calculated on YoY daily rolling basis.
ARBITRAGE FUNDS
• Edelweiss Arbitrage Fund
• ICICI Pru Equity Arbitrage Fund
Edelweiss Arbitrage Fund Arbitrage
Expertise in arbitrage strategies – Edelweiss group’s AUM in Cr. 865

expertise in identifying arbitrage positions will be an Benchmark CRISIL Liquid Fund
advantage. As an AMC also, they follow the same strategy in
its Absolute Return Fund, which has performed well. Expense Ratio 1.05
Concentrated Portfolio – Maximum 15-20 stocks in the Inception Date 27-06-2014
portfolio compared to 40-50 stocks in other arbitrage funds.
Fund Manager Bhavesh Jain
The Fund is a good instrument to give returns similar to
any liquid fund with taxation benefit, leading to higher post Exit Load 0.50% for 3M
tax returns.
Fund has CBLO in debt category & has locked the spread
of 7.50% in the month of June.
TOP 10 HOLDINGS ASSET ALLOCATION
Company Name % Holding

1%
Hdfc Bank Limited (Maturity Date 30th Sept
2015) -9.48
Stock
HDFC Bank Ltd 9.41
40% Bond
Reliance Industries Limited (Maturity Date 30th
Sept 2015) -9.37 Cash
58%
Reliance Industries Ltd 9.34 Other
HDFC Ltd (Maturity Date 30th Sept 2015) -6.30
1%
HDFC Ltd 6.26
Icici Bank Limited (Maturity Date 30th Sept 2015) -5.43
ICICI Bank Ltd 5.40
Axis Bank Limited(Maturity Date 30th Sept 2015) -4.75

Axis Bank Ltd 4.71
112
110
108
106
104
102
100
98
96
94
Jun-14
Oct-14
Jan-15
Mar-15
Jun-15
May-15
Aug-14
Apr-15
Aug-15
Jul-14
Sep-14
Nov-14
Feb-15
Jul-15
Sep-15
Dec-14
Scheme Benchmark

Data is as of 30th Sept 2015 wherever not mentioned.
ICICI Pru Equity Arbitrage Fund Arbitrage
Ÿ ICICI Pru Equity Arbitrage is actively managed by the AUM in Cr. 3,671
AMC unlike other arbitrage funds with equity exposure up Benchmark CRISIL Liquid Fund
63%, amongst the highest in the category.
Expense Ratio 1.00
Arbitrage funds give returns similar to a liquid fund with
taxation benefit (0% DDT, 15% STCG tax & Nil LTCG tax), Inception Date 30-12-2006
leading to higher post tax returns Fund Manager Kayzad Eghlim, Manish Banthia
Fund has CBLO in debt category & has locked the spread of Exit Load 0.25% for 3M
7.50% in the month of June.
TOP 10 HOLDINGS
ASSET ALLOCATION
Icici Bank Ltd. $$ -3.71
Axis Bank Ltd. $$ -3.71

40%
ICICI Bank Ltd 3.70 Stock
Axis Bank Ltd 3.69 Cash

60%
Maruti Suzuki India Ltd. $$ -3.47
Maruti Suzuki India Ltd 3.46
Infosys Ltd 3.00
Infosys Ltd. $$ -2.99
Wipro Ltd. $$ -2.94
Wipro Ltd 2.93 PERFORMANCE – 5 Years
180
160
140
120
100
80
60
40
20
0
Mar-13
Jun-14
Oct-12
Jan-14
May-12
Apr-15
Aug-13
Nov-14
Sep-10
Feb-11
Jul-11
Sep-15
Dec-11
Scheme Category

DEBT MUTUAL FUNDS
Debt: What’s Happening?
Assets Under Management (AUM) in debt funds, remained flat to 7.74 Lakh Cr in July-Sept qtr, given
the huge inflows in Liquid funds in July & August and outflows September & Gilt funds got good
inflows in Sept.
Long term debt funds, especially long term gilt funds, are seeing an increased pie of investment flows
over the past few months owing to rate cut from RBI in the month of September.
For the Long-term debt funds quarter remained net positive with AUM crossing 5.36 Lakh cr as
compared to 5.11 in quarter ending June, while the gilt funds’ AUM rose to the highest level ever at
Rs 0.20 Lakh Cr.
Liquid funds posted a big rise in average AUM in the month of July & August but saw outflows in the
month of September. The category’s AUM saw outflows of Rs 0.29 Lakh Cr to Rs 2.19 Lakh Cr in the
latest quarter.
AUM Trends in Debt Market
In INR May-
Lakh Cr Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 15 Jun-15 Jul-15 Aug-15 Sep-15
Overall
AUM 10.96 11.44 10.98 12.01 12.28 11.14 12.23 12.83 12.62 13.57 13.59 12.81
Income 4.36 4.64 4.71 4.93 4.97 4.88 5.01 5.00 5.11 5.38 5.59 5.36
Liquid 2.67 2.64 2.00 2.53 2.62 1.59 2.56 2.91 2.48 2.91 2.84 2.19
Gilt 0.07 0.08 0.10 0.13 0.15 0.16 0.17 0.18 0.17 0.18 0.18 0.20
Debt
Total 7.09 7.36 6.81 7.58 7.75 6.63 7.73 8.09 7.77 8.47 8.61 7.74
ACCRUAL FUNDS - ST
• ICICI Pru Short Term Fund
• IDFC SSIF ST Fund
ICICI Pru Short Term Income Plan Accrual ST

Invests predominantly in debt instruments of good credit Fund Size 5,145
quality with long-term rating between AAA and AA. The Benchmark CRISIL Short-Term Fund
fund also aims to capture credit spread opportunities to Expense Ratio 1.11
generate returns.
Inception Date 25-10-2001
Fund manager, Manish Banthia’s investment approach is
Fund Manager Manish Banthia
reasonably straight forward, studies fundamental factors
such as the economic growth rate and inflation to formulate Exit Load 0.50% for 3M
his view on rates and manoeuvres the portfolio’s average
maturity within the broader range of 1-3 years.
While picking securities, Banthia attempts to capture RATIOS
spreads between gilts and corporate bonds by studying YTM 8.17
historical spreads between the two. Mod Duration 3.34
Avg Maturity 4.60
Fund Manager:
Manish Banthia joined the AMC in Oct 2005 in the
products function. Later, he took on varied roles in functions
such as credit research and dealing, before assuming CREDIT PROFILE
portfolio management responsibilities for this fund in Nov
2009.
He also manages Income Opp, Income and Debt part for AA & Equivalent 23.9
Balanced & Balanced Adv.
Pru AMC. 76.1
AAA & Equivalent
TOP 5 HOLDINGS DURATION MANAGEMENT

4.0
8.27% Govt Stock 2020 9.80
7.35% Govt Stock 2024 4.95 3.0
Tata Motors Finance Solutions Private Limited 4.39 2.0
7.68% Govt Stock 2023 4.27 1.0
8.60% Govt Stock 2028 4.14
0.0
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Oct-13
Oct-10
Oct-11
Oct-12
Oct-14
MATURITY PROFILE PERFORMANCE – 5 Years
50 200
40.5
40 150
30 24.5 100
20 11.6 50
8.0 8.4
10 0
May-12
Mar-13
Oct-12
Jan-14
Jun-14
Aug-13
Apr-15
Sep-10
Feb-11
Jul-11
Nov-14
Sep-15
Dec-11
0
1-3 Yr 3-5 Yr 5-7 Yr 7-10 Yr 10-15 Yr
Scheme Category

IDFC SSIF – ST Fund Accrual ST

Scheme is an accrual portfolio with high credit quality Fund Size 4,201
focusing largely on the corporate bonds and a discipline of Benchmark CRISIL Short-Term Fund
not investing in government bonds. The average portfolio
Expense Ratio 1.02
maturity will not ordinarily exceed 2 years.
Fund always has portfolio with 70-80% in AAA rated
Fund Manager Suyash Chowdhary
papers. For conservative clients, who are averse to credits
can invest in this fund. Exit Load 0.25% for 1 Y
RATIOS
Fund Manager:
YTM 8.09
Suyash Choudhary, Head of Fixed Income, IDFC Asset
Management has over 11 years of experience in fund Mod Duration 1.73
management. He joined the firm on October 15, 2010 Avg Maturity 2.10
He also manages Dynamic Bond Fund, G sec funds, SSIF -
IP & All season bond fund.
CREDIT PROFILE
AA & Equivalent 14.9
AAA & Equivalent 85.1

2.0
Power Grid Corporation Of India Limited 7.64
Bajaj Finance Limited 6.55 1.5
National Bank For Agriculture And Rural Development 4.41
1.0
Power Finance Corporation Ltd. 4.17
Rural Electrification Corporation Limited 3.65 0.5
0.0
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
50
160
38.6
40 140
120
30 27.4 25.6 100
80
20
60
10 40
20
0 0
1-3 Yr 3-5 Yr 5-7 Yr
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-13
Sep-10
Sep-11
Sep-12
Sep-14
Sep-15
Scheme Category
ACCRUAL FUNDS – LT
• Birla SL Medium Term Fund
• ICICI Pru Regular Savings Fund
Birla SL Medium Term Fund Accrual LT

The scheme intends to run the portfolio on an accrual Fund Size 4,488
which would involves buying a bond and holding it till Benchmark CRISIL AA Short Term Fund
maturity thereby earning from the accruing of interest. This Expense Ratio 1.59
would enable to minimize the interest rate risk to a large
extent.
Fund Manager Maneesh Dangi
The Fund intends to optimise returns by keeping its Exit Load 2%for 2Y, 1% for 1Y
portfolio duration between 1 year to 5 years.
Fund has high YTM in the category with below average
expense ratio. RATIOS
YTM 9.84
Mod Duration 2.78
Fund Manager:
Avg Maturity 3.90
Maneesh Dangi, Co-CIO at Birla SL AMC, has over 11 years
of experience in fund management & Research.
He also manages Dynamic Bond Fund & Corporate Bond CREDIT PROFILE
Fund.
A & Equivalent 34.6
30 32 34 36

Company Name % Holding 3.0
ECL Finance Limited 9.45 2.5
Rkn Retail Private Limited 8.41 2.0
7.72% GS 2025 8.12 1.5
7.68% Govt Stock 2023 7.28 1.0
RHC Holding Private Limited 5.79 0.5
0.0
Oct-10
Mar-11
Jan-12
Jun-12
May-15
Aug-11
Apr-13
Nov-12
Sep-13
Feb-14
Jul-14
Dec-14
40.0 37.2
200
30.0 26.4 26.6
150
20.0 100
10.0 50
0.5
0.0 0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
1-3 Yr 3-5 Yr 5-7 Yr 7-10 Yr
Scheme Category

ICICI Pru Regular Savings Fund Accrual LT

Scheme intends to take advantage of internal credit
Fund size 5,743
research to generate credit alpha for the portfolio from any
potential rating upgrades of debt instruments. Benchmark Crisil Composite Fund
Invests predominantly in well researched AA and A rated Expense Ratio 1.79
debt instruments & maintains a static duration in the range Inception Date 03-12-2010
of 1.5 to 2.5 years Fund Manager Rahul Bhuskute
The fund’s investment strategy entails taking credit bets, Exit Load 1% for 1Y
with little room for duration plays & company-specific
research is integral to the investment approach.
Fund Manager looks for securities that may benefit from RATIOS (For 1 year ended Sept’15)
certain events such as domestic acquisition and promoter
YTM 9.90
financing or may be rated lower but are potential
candidates for an upgrade. Mod Duration 2.02
Avg Maturity 2.72
Fund Manager:
Rahul Bhuskute has been with ICICI group for the past 15
years. He joined the group’s AMC arm in May 2013 as Head - CREDIT PROFILE
Structured & Credit Investments and is currently responsible
for managing credit-centric bond funds.
He has extensive experience on the credit side, having A & Equivalent 43.2
earlier worked in profiles that entailed taking credit calls.
He also manages Corporate Bond Fund & FMPs.
Pru AMC.
0 10 20 30 40 50

2.5
MA Dairy Products Private Limited 4.80 2.0
Asian Satellite Broadcast Private Limited 3.22 1.5
Rural Electrification Corporation Limited 3.17 1.0
JSW Steel Limited 3.05 0.5
Jindal Steel & Power Limited 2.91 0.0
Jun-11
Jun-12
Jun-13
Jun-14
Jun-15
Dec-10
Dec-11
Dec-12
Dec-13
Dec-14
40 37.2 200.0
30 150.0
24.6
20 100.0
14.4
50.0
10
3.0
0.6 0.0
0
May-11
Aug-12
Nov-13
Apr-14
Jul-15
Sep-14
Feb-15
Dec-10
Oct-11
Mar-12
Jan-13
Jun-13
1-3 Yr 3-5 Yr 5-7 Yr 7-10 Yr 10-15 Yr
Scheme Category

DYNAMIC FUNDS
• IDFC Dynamic Bond Fund
• Reliance Dynamic Fund
IDFC Dynamic Bond Fund Dynamic

The fund is positioned in the income fund category to take Fund size 6,142
exposure across the curve depending upon the fund Benchmark Crisil Composite Fund
manager’s underlying interest rate view where we employ Expense Ratio 1.64
the majority of the portfolio.
The fund will move dynamically between government Fund Manager Suyash Chowdhary
bonds, corporate bonds, money market instruments and Exit Load 0.5% for 3M
cash to optimize performance.
Fund Manager believes that Tactical calls on bond funds
basis expectation of near term rate cuts constitute a very RATIOS
superficial view of the asset class. Indian bond yields remain YTM 7.76
very attractive on a real yield basis and for the first time in Mod Duration 8.80
many years.
Avg Maturity 15.90
Fund Manager:
Suyash Choudhary, Head of Fixed Income, IDFC Asset
Management has over 11 years of experience in fund CREDIT PROFILE
management. He joined the firm on October 15, 2010
He also manages SSIF – ST fund, G sec funds, SSIF - IP &
All season bond fund.
0 50 100 150
Company Name % Holding 10

7.88% GS 2030 49.50 8
8.24% Govt Stock 2033 25.09
6
8.32% Govt Stock 2032 24.40
4
Cblo 0.51
2
Rural Electrification Corporation Limited 0.03
0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
MATURITY PROFILE 180 PERFORMANCE – 5 Years

160
60 140
49.5 49.5 120
50
100
40 80
30 60
20 40
20
10 0
0
10-15 Yr 15-20 Yr
Scheme category

Reliance Dynamic Fund Dynamic

An all-weather fund which varies its duration and portfolio
Fund Size 5,517
characteristics as per the changing market dynamics.
The fund's asset allocation allows complete flexibility for Benchmark Crisil Composite Fund
investments in debt instruments which may include Expense Ratio 1.77
investments in corporate and PSU bonds, Government Inception Date 15-11-2004
securities, money market instruments, securitized debt, etc Fund Manager Prashant R.Pimple
of varying tenors. Exit Load 1% for 1Y
Prashant Pimple maintains a strategic allocation of 60-70%
that reflects his view on medium- term rates, while the
remaining 30-40% is managed tactically to take advantage RATIOS
of any short-term movements. YTM 7.84
Average duration between 2 years to 9 years depending Mod Duration 8.24
upon the interest rate scenario. The fund can invest in liquid Avg Maturity 16.15
assets across the curve and across maturity.
Currently mod duration is 8 years, indication his bullish
view on markets.
CREDIT PROFILE
Fund Manager:
Prashant Pimple has overall experience of 14 years on the
fixed income side. He has been with Reliance AMC for nine
years, during which time he has exhibited a flair for
managing duration strategies.
He also manages Short Term & Income Fund. AAA & Equivalent 100
He is managing 15,000 Cr AUM in total 4 funds of Reliance
AMC.

10
7.88% GS 2030 18.60
8
8.24% Govt Stock 2033 12.05
6
8.30% Govt Stock 2040 9.88
4
8.17% Govt Stock 2044 9.05
2
8.30% Govt Stock 2042 6.45
0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
200
150
35 31.2
30 26.6 100
24.4
25
50
20
14.0
15 0
10 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15
5 1.2 Scheme category
0.4
0
3-5 Yr 5-7 Yr 7-10 Yr 10-15 15-20 20-30
Yr Yr Yr

INCOME FUNDS
• IDFC G sec – Invest Plan
• Reliance Gilt Securities Fund
• ICICI Pru Long Term Gilt Fund
IDFC G sec – Invest Plan Income

A dedicated gilt fund with an objective to generate optimal Fund size 1,059
returns with high liquidity by investing in Government Benchmark I-Sec Composite
Securities. Expense Ratio 1.47
Suyash Choudhary, is an expert in fixed income market & 0Inception Date 03-12-2008
actively manages duration in all his funds. In mid 2013, Fund Manager Suyash Chowdhary
when there was an expectation of rate hike, he kept more Exit Load Nil
than 50% of the portfolio in cash to protect the returns.
Fund Manager: RATIOS

Suyash Choudhary, Head of Fixed Income, IDFC Asset YTM 7.78
Management has over 11 years of experience in fund Mod Duration 9.09
management. He joined the firm on October 15, 2010
Avg Maturity 17.30
He also manages SSIF – ST fund, G sec funds, SSIF - IP &
All season bond fund
CREDIT PROFILE
AAA & Equivalent 100

10
7.88% GS 2030 38.37
8
8.24% Govt Stock 2033 34.63 6
8.32% Govt Stock 2032 13.61 4
8.30% Govt Stock 2042 6.44 2
0
8.30% Govt Stock 2040 3.29
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
60 50.3 200
50
38.4 150
40
30 100
20
9.7 50
10
0 0
May-12
Aug-13
Apr-15
Sep-10
Feb-11
Jul-11
Nov-14
Sep-15
Dec-11
Oct-12
Mar-13
Jan-14
Jun-14
10-15 Yr 15-20 Yr 20-30 Yr
Scheme Category

Reliance Gilt Securities Fund Income

A Gilt fund is a long duration fund which typically invests Fund size 1,081
in a portfolio of securities issued and guaranteed by the Benchmark ICICI Securities Libex TR INR
Central & State Government to generate optimal credit risk
Expense Ratio 1.76
free returns with an aim to generate returns in a falling
interest rate scenario by managing duration. Inception Date 22-08-2008
Fund Manager Prashant Pimple
In light of the expectations of improving macro story, fund Exit Load Nil
intends to run higher duration above 8 yrs by consistent
higher allocation to longer maturity G-Secs.
Currently, ~30% is invested in longer maturity G – Secs (20 RATIOS
Yrs and above maturity) & rest into belly of the curve (10 yr YTM 7.77
to 20 yr maturity with no exposure in below 10 yr G-Secs.
Mod Duration 9.08
Avg Maturity 18.62
Fund Manager:
Prashant Pimple has overall experience of 14 years on the
fixed income side. He has been with Reliance AMC for nine CREDIT PROFILE
years, during which time he has exhibited a flair for
managing duration strategies.
He also manages Short Term & Income Fund.
He is managing 15,000 Cr AUM in total 4 funds of Reliance AAA & Equivalent 100
AMC.

10
7.88% GS 2030 30.54
8
8.24% Govt Stock 2033 16.64 6
8.17% Govt Stock 2044 14.43 4
8.32% Govt Stock 2032 11.63 2
8.15% Govt Stock 2026 8.54 0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-13
Sep-10
Sep-11
Sep-12
Sep-14
Sep-15
50 41.5 200
40
28.3 28.1 150
30
20 100
10 50
0 0
10-15 Yr 15-20 Yr 20-30 Yr
May-12
Apr-15
Sep-10
Nov-14
Feb-11
Jul-11
Aug-13
Sep-15
Dec-11
Mar-13
Jan-14
Jun-14
Oct-12

ICICI Pru Long Term Gilt Fund Income

The fund offers a rather straightforward investment Fund size 1,642
proposition, which is to scout for opportunities in the Benchmark ICICI Securities Ibex TR INR
government bond segment. Expense Ratio 1.50
Rahul Goswami, fund manager, took the helm in Sept Inception Date 19-08-1999
2012 after having run the fund from Oct 2005 to Oct 2009 in Fund Manager Rahul Goswami
an earlier stint with the AMC that produced an impressive Exit Load Nil
performance.
RATIOS
Fund Manager:
YTM 7.49
Rahul Goswami (CIO-Fixed Income) has been the portfolio Mod Duration 8.93
manager here since Sept 2012. This is his second stint at
ICICI Prudential AMC. Avg Maturity 19.71
He also manages Blended B, Savings fund, Money market
fund & liquid fund.
CREDIT PROFILE
Pru AMC.
AAA & Equivalent 100

10
7.88% GS 2030 23.27
8
8.30% Govt Stock 2042 18.35
6
8.17% Govt Stock 2044 14.56
4
8.24% Govt Stock 2033 11.92
2
7.95% Govt Stock 2032 10.65
0
Sep-12
Sep-10
Sep-11
Sep-13
Sep-14
Sep-15
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
46.8 200
50
150
40 100
50
30 23.3 22.6 0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
20
10 5.0
0
7-10 Yr 10-15 Yr 15-20 Yr 20-30 Yr

LIQUID FUNDS
• Reliance Liquidity Fund
• DWS Cash Opportunities Fund
Reliance Liquidity Fund Liquid

AUM in Cr. 4,525
The scheme seeks to provide optimal return consistent Benchmark CRISIL Liquid Fund
with moderate level of risk and high liquidity. Expense Ratio 0.17
Reliance Liquidity Fund is one of the Consistent funds in
Fund Manager Amit Tripathi
the liquid category, is outperforming its peers as well as
benchmark. Exit Load Nil
Most of the portfolio is invested in money market

instrument, thereby providing high level of liquidity to the RATIOS
clients. YTM 7.71
Mod Duration 0.14
Fund has very high quality of Credit to provide the highest
level of liquidity and safety to the clients with low expense. Avg Maturity 0.15
CREDIT PROFILE
0 50 100 150

0.2
Punjab & Sind Bank (13-Nov-15) 10.95
91 Days Treasury Bill - 19-Nov-2015 7.04 0.2
Deutsche Bank A G 6.63
0.1
IndusInd Bank Ltd. 6.62
Corporation Bank (23-Nov-15) 5.46 0.1
0.0
Sep-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
150
200
100.0
100 150
100
50
50
0
0
<1 Yr
May-12
Apr-15
Aug-13
Nov-14
Feb-11
Sep-10
Jul-11
Sep-15
Dec-11
Mar-13
Jun-14
Oct-12
Jan-14
Scheme Category
DWS Cash Opportunities Fund Liquid

Enhances income consistent with a high level of liquidity, AUM in Cr. 668
through a judicious portfolio mix of money market and debt Benchmark CRISIL Liquid Fund
instruments
Expense Ratio 1.08
It has highest YTM in the category with duration of only Inception Date 22-06-2007
0.7 yr. Fund Manager Sunaina da Cunha
Exit Load Nil
Most of the portfolio is invested in shorter tenor papers,
thereby optimizing the volatility on the MTM front
RATIOS
YTM 10.11
Mod Duration 0.72
Avg Maturity 0.84
CREDIT PROFILE
A & Equivalent 46.1
0 20 40 60

0.8
Aspire Home Finance Corporation Limited 7.50
0.6
Janalakshmi Financial Services Private Ltd 5.24
Dalmia Cement (Bharat) Limited 3.75 0.4
AU Housing Finance Limited 3.75 0.2
Janalakshmi Financial Services Private Ltd 3.04 0.0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15

100
77.3 200
80
60 150
40
22.7 100
20
50
0
< 1 Yr 1-3 Yr 0
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15

Data is as of 30th Sept2015 wherever not mentioned.
Disclosures
Benchmark for Attribution Market Capitalization Range (INR)
Giant Cap > 89,000 Cr.

Large Cap Funds CNX Nifty
Large Cap Between 20,000-89000 Cr.
Mid Cap Funds CNX Midcap
Mid Cap Between 5,900 – 20,000 Cr.
Infrastructure Fund CNX Infra
Banking Fund CNX Bank Small Cap Between 1,600 - 5,900 Cr
Balanced Funds CNX Nifty Micro Cap <1,600 Cr
For Mutual Fund Industry Snapshot:

Equity includes: Large Cap, Mid Cap, Flexi Cap, Tax Planning, Index,
Thematic, Balanced & Arbitrage
Debt includes: MIP, Accrual ST, Accrual LT, Liquid, Dynamic & Income
Others include: ETF, Money Market, Inter-Scheme
Note:
 For Equity Funds, returns are calculated on Compounded Annualized basis for a period of more
than a year and Absolute basis for a period of less than a year
 For Debt Funds, returns are calculated on Compounded Annualized basis for a period of more than
a year and Simple Annualized basis for a period of less than a year
 Data is as on Sept 30th , 2015 wherever not mentioned
 Source of Data – AMFI Website, Morningstar Direct, Edelweiss Research
Safe Harbor
Investment Advisory Group
Alok Saigal Pradyuman Singh

Alok.saigal@edelweissfin.com pradyuman.rathore@edelweissfin.com
+91 22 4088 5917 +91 22 4342 8286
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Edelweiss Fund Scorebook

Guide to the top Mutual Funds

Edelweiss – Ideas create, values protect

Equity Debt Others Total AUM

All figures are as on 30th Sept 2015, in INR Lakh Crore

SCHEME DESCRIPTION SCHEME INFO

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

Scheme Benchmark Category

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

SCHEME DESCRIPTION SCHEME INFO

Fund Manager: PERFORMANCE - 5 Years

Scheme Benchmark Category

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

Sector Name % Holding Company Name % Holding

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

Scheme Benchmark Category

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

TOP 5 HOLDINGS BEST/WORST RETURNS (as of 30th Sept 2015)

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

Sector Name % Holding Company Name % Holding

Fund: 36.94% Fund: -23.09%

Portfolio Benchmark Sector Stock Active

SCHEME DESCRIPTION SCHEME INFO

Fund: 10.11% Fund: -6.05%

Portfolio Benchmark Sector Stock Active

SCHEME DESCRIPTION SCHEME INFO

TOP 5 HOLDINGS Scheme Benchmark Category

View on Banking Sector

State Bank of India 5.01

SCHEME DESCRIPTION SCHEME INFO

Scheme Benchmark Category

SCHEME DESCRIPTION SCHEME INFO

He is involved in planning the macro-level strategy and Jan-14

Scheme Benchmark Category

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

Sector Name % Holding Company Name % Holding

ATTRIBUTION ANALYSIS (Qtr ended Sept 2015)

SCHEME DESCRIPTION SCHEME INFO

Expertise in arbitrage strategies – Edelweiss group’s AUM in Cr. 865

TOP 10 HOLDINGS ASSET ALLOCATION

Company Name % Holding

Axis Bank Limited(Maturity Date 30th Sept 2015) -4.75

Source: ACE MF, Morningstar Direct.

SCHEME DESCRIPTION SCHEME INFO

Icici Bank Ltd. $$ -3.71

Axis Bank Ltd. $$ -3.71

Axis Bank Ltd 3.69 Cash

Maruti Suzuki India Ltd 3.46

Infosys Ltd 3.00

Infosys Ltd. $$ -2.99

Wipro Ltd. $$ -2.94

Wipro Ltd 2.93 PERFORMANCE – 5 Years

Source: ACE MF, Morningstar Direct.

AUM Trends in Debt Market