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December 2010
Source: Bloomberg
G sec 10 yr
AAA10yr
This could be an opportunity for investors looking for higher returns through dynamic portfolio management while sticking to the risk profile of debt markets
Approximate absolute returns calculated based on FIMMDA/Bloomberg curves Returns shown only for the purpose of comparison
SBI Dynamic Bond Fund Investment objective and proposed asset allocation
Investment objective: To actively manage a portfolio of good quality debt as well as money market instruments so as to provide reasonable returns and liquidity to the unit holders
Proposed allocation in
Risk Profile
Debt# Instruments including Government Securities and Corporate Debt Money Market Instruments
Medium
0-100%
Low
#Debt
is no guarantee or assurance that the investment objective of the scheme will be achieved. h h b f h h ll b h d The scheme does not assure or guarantee any returns.
*There h
Top Down Analysis Duration Investment objective & bj i Internal guidelines Quantitative Analysis Credit Trading Sector Yield Curve Portfolio Construction
Risk Management
Focus on consistent g above average risk adjusted returns Fundamental research based approach h Focus on risk management Identifying multiple sources of alpha
Fundamental research based approach and focus on risk management to generate consistent above average returns
Capturing inefficiencies in the Fixed income markets that g give rise to multiple sources of alpha through disciplined p p g p risk taking Risk management is crucial to achieving the investment objective and is an integral part of portfolio management and is not just a tool for post investment analysis j p y Sharper focus on credit research: credit cycles will be shorter and lack of liquidity pose another challenge
SBI Dynamic Bond Fund would aim to generate better returns by actively managing the portfolio based on the evolution of the above factors
Inflation trajectory
Duration adjustment
Choice of instruments
Bond markets warrant a dynamic approach with selective curve play based on the above
Portfolio Analysis*
Asset Allocation
80% 70% 60% Percentage 74.62%
AUM Benchmark
TOP HOLDINGS
Issuer GOI 8.08% 02.08.2022 GOI 8.26% 02.08.2027 ALLAHABAD BANK CD CORPORATION BANK CD Total
0% G Sec CD NCA
Performance Report*
3Y 1.83% 5.85%
5Y 2.19% 5.65%
Past performance may or may not be sustained in future. Returns are CAGR and are for growth option. NAV (Growth) as on 30/12/2010 is Rs. 11.53. Date of inception is 09.02.2004.
Thank you
Disclaimer
Risk Factors: Mutual Funds and Securities Investments are subject to market risks and there is no assurance or guarantee that the objective of scheme(s)/plan(s) will be achieved. As with any other investment in securities, the NAV of the Units issued under the scheme(s)/plan(s) can go up or down depending on the factors and forces affecting the securities market. Past performance of the Sponsor/AMC/Mutual Fund/Scheme(s)/Plan(s) and their affiliates do not indicate the future performance of the scheme(s) of the Mutual Fund. Investment Objective: SBI Dynamic Bond Fund (An OpenEnded Income Scheme): The investment objective will be to actively manage a portfolio of good quality debt as well as Money Market Instruments so as to provide reasonable returns and liquidity to the Unit holders. However there is no guarantee or assurance that the investment objective of the scheme will be achieved. The scheme doesnt assure or guarantee any returns. SBI Dynamic Bond doesn t Fund is only the name of the scheme and does not in any manner indicate either the quality of the scheme, its future prospects and returns. Statutory Details: SBI Mutual Fund has been set up as a Trust under The Indian Trusts Act, 1882. State Bank of India (SBI), the sponsor is not responsible or liable for any loss resulting from the operation of the schemes beyond the initial contribution made by it of an amount of Rs. 5 lacs towards setting up of the Mutual Fund. Asset Management Company- SBI Funds Management Private Limited (A joint venture with SBI and Socit Gnrale Asset Management). Trustee Company: SBI Mutual Fund Trustee Company Private Limited. Please read the Scheme Information Document carefully before investing. This presentation is for information purposes only and is not an offer to sell or a solicitation to buy any mutual fund units/securities These views alone are not sufficient and should not be used for the units/securities. development or implementation of an investment strategy. It should not be construed as investment advice to any party. All opinions and estimates included here constitute our view as of this date and are subject to change without notice. Neither SBI Funds Management Private Limited, nor any person connected with it, accepts any liability arising from the use of this information. The recipient of this material should rely on their investigations and take their own professional advice