March 2012

INDEX
Assets Trends For Indian Mutual Fund Industry
Mutual Fund Overview
Performance Of Recommended Schemes
Most Popular Scrips
Top Flavors Of Equity Diversified Schemes
Unique Holding By Mutual Fund
Stock-in Stock-out Of Top Equity Schemes
Bubble Graphs
Index Exposure Of Equity Funds
Debt Funds Portfolio Composition
Transaction Trends Of Mutual Funds And FIIs
Top 30 Equity Schemes With Highest Cash Allocation
Dividend History
Dividend History - MIP
Fixed Income Commentary
Key Mutual Fund News
Disclaimer
1
2
3
5
5
6
7
9
12
13
14
15
16
17
18
19
20

Assets trends for Indian Mutual Fund Industry in February 2012
Indian equity markets extended gains in the month of February driven by robust inflow from Foreign Institutional Investors (FII) and firm global
cues. However, the gains remained limited to around 3% due to uncertainties in Euro zone, coupled with rising crude oil prices. Favourable
equity market had a positive impact on Mutual Fund industry whose assets increased to Rs. 6,75,238 crore, registering an increase of Rs.
16,085 crore or 2.44% in corpus in the current month compared to 7.81% in January. The rise in Mutual Fund assets was mainly due to gains
in equity funds, whose assets rose by 3.25%, coupled with inflows in Money Market Fund.
In February, the overall industry corpus stood at Rs. 675,238 crore as against Rs. 659,153 crore in the previous month. Barring Income and
Gilt Fund, all the categories registered significant recovery in corpus. Money Market Fund remained the top gainer, whose corpus went up by
6.52% as against a significant growth of 22.45% in the previous month. Equity fund rose by 3.25%, which was in line with the rise in key
benchmark indices.
Net inflow declined sharply in February to the tune of Rs. 1,271 crore compared to Rs. 23,553 crore in the previous month. However, it
remained in the positive zone due to significant inflow of Rs. 6,860 crore in Money Market Fund category. Highest outflow of Rs. 2,680 crore
was witnessed in Equity category owing to redemptions by risk-averse investors, intending to book profits before major upcoming events like
Union budget and RBI Monetary Policy Review. This was the second consecutive month of outflow as the investors booked profits on recent
gains in the market. Other than Equity category, only Income category witnessed net outflow to the tune of Rs. 2,527 crore as against net
outflow of Rs. 2,926 crore in the previous month. Income category witnessed outflow for the fourth consecutive month. Gilt, ELSS and other
ETFs registered an outflow of Rs. 88 crore, Rs. 129 crore and Rs. 40 crore respectively.
With the end of the quarterly results of the corporate, the two crucial upcoming events-the Union Budget and RBI’s Monetary Policy will pave
way for the market sentiments. Rising crude oil prices, which could disrupt economic recovery and increase inflationary pressure on India,
will have severe impact on equity and Mutual Fund industry.
New Schemes Launched :
OPEN END INCOME : IDBI Dynamic Bond Fund; Morgan Stanley Multi Asset Fund; Pramerica Short Term Floating Rate Fund and Union KBC
Dynamic Bond Fund.
OPEN END EQUITY : Indiabulls Blue Chip Fund
OPEN END FUND OF FUNDS INVESTING OVERSEAS : FT India Feeder - Franklin U. S. Opportunities Fund
CLOSE END INCOME : Axis Capital Protection Oriented Fund - Series 4; Birla Sun Life FTP Series EG, Series EH, Series EI, Series EJ,
Series EK, Series EM, Series EN, Series EP; DSPBlackRock FMP Series 31 - 12M, Series 32 - 12M, Series 33 - 3M, Series 35 - 3M, FTP
Series 34 - 12M; DWS FMP Series 2, Series 3 and Series 5; FranklinTempleton Fixed Tenure Fund - Series XVI; HDFC FMP 92D January
2012 (3) Series XIX, February 2012 (1) Series XIX, February 2012 (2) Series XIX, 182D February2012 (1) Series XIX, 370D January 2012 (4)
Series XIX, February 2012 (1) Series XIX, February 2012 (2) Series XXI, 18M February 2012 (1) Series XX, 846D January2012 (1) Series XX
and 1203D January 2012 (1) Series XX; ICICI Prudential Multiple Yield Fund Series 2 Plan D, ICICI Prudential FMP Series 61 - 1 Year Plan A
andPlan E, 3 Year Plan F, Series 62 - 1 Year Plan A, Plan B and Plan C, 417 Days Plan D; IDBI FMP Series II 369 Days (February 2012) - C;
IDFC FMP QS 69, YS 47, YS48, YS 49, YS 50 and YS 51; Kotak FMP Series 73, Series 74 and Series 75; L & T FMP V (February 90 D A);
Reliance Fixed Horizon Fund - XXI - Series 6, Series 7and Series 8;
Religare FMP Series XII Plan B (14 Months), Plan C (368 Days), Plan D (14 Months) and Plan E (369 Days); Sundaram FTP - CH, CJ, CK and
CL; Tata FMP Series 39Scheme A, Scheme B, Scheme D and Scheme E; Taurus FMP 370 Days Series M and 91 Days Series N.
1

Mutual Fund Overview
Equity Funds Summary
The domestic equity markets slowed down in their upward climb after
the fast paced rally last month,that caught many by surprise. There
was a 7% return in the first half of this month but profit booking started
to set in during the latter half pf the month and sentiment turned
cautious. Global equity markets showed resilience as Greece made
further progress on its pledge to cut budget deficits and Europe
concluded its LTRO program which was positively received by the
markets. At home, with the curtains coming down on the earnings
season, political signposts and the Union Budget are now the
protagonists of the play and markets are set to be driven by those key
events next month. The results of the recently concluded state
elections in the five states is key event being watched by markets.
3QFY12 aggregate performance was in line with estimate while
Sensex companies PAT grew 11%, while broader MOSL Universe (ex
Sensex) PAT degrowth by 6% disappoints. Major reasons were
slowing revenues, margin pressures, and higher interest cost.
The domestic indices continued their winning streak; Nifty and Sensex
gained by 3.58 per cent and 3.25 per cent respectively. Almost all
major sectoral indices reported in positive. The top performers were
BSE Realty (14.49 per cent) and BSE Consumer Goods (11.09 per
cent). Other performers in line are BSE Power Index (9.86 per cent),
BSE Mid Cap (8.77 per cent), BSE Auto (8.14 per cent), BSE IT (6.63
per cent) and BSE Small Cap (6.14 per cent).
The whole euphoria in Indian market is due to FIIs pumping cheap
money into emerging economies. FIIs pumped its highest ever hot
money worth Rs. 25,212 crore into equity; it pumped Rs. 10,357.5
crore in Jan-12. In Debts too, it also put worth Rs. 10,015.7 crore in
Feb-12. Unlike FIIs, domestic mutual funds remained a dragger for
second consecutive month. It withdrew Rs. 2,171 crore from equity but
poured Rs. 20,712.2 crore in debt. Domestic investors utilized the
opportunity to exit the investments as the strong rally provided a good
opportunity to move out. However, the equity money is still flowing in
through SIPs.
The strong rally in equity indices led to similar performance from equity
mutual funds. Almost all categories showed a net positive return in
Jan. In Large Cap space, PRINCIPAL Growth Fund lead the pack with
a net monthly gain of 9.3 per cent. In the same category, the average
one year return is 2.37 per cent while the 3-years return is 25.78 per
cent CAGR. In multi-cap category, the best performer is HSBC
Progressive Themes Fund with a net absolute return of 14.71 per cent
in Feb-12; this is the highest return given by any fund in the universe.
In Small & Mid cap space, HSBC Midcap Equity Fund returned 13.16
per cent in the month under consideration; however, the average
yearly category return is 5.85 per cent. In ELSS category where
investments up to Rs. 1 lakh is allowed for tax deduction under Sec
80C, the best performer was PRINCIPAL Tax Savings Fund with a net
monthly absolute return 9.14 per cent.
Debt Funds Summary
India's 3QFY12 GDP growth figure at 6.1% came somewhat below
expectations. This was the lowest growth in three years taking it closer
to the post- Lehman and pre-boom period lows. All three sectors, viz,
agriculture, industry and services slowed down. RBI is unlikely to
propone rate cuts in view of GDP data as the slowdown was largely
anticipated.
Meanwhile, the industrial growth as measured by Index of Industrial
Production (IIP) dips to 1.8 per cent broadly in-line with the market
consensus. Among the major sectors, mining sector contracted which
was compensated by the double digit growth in the electricity sector.
Earlier, the headline inflation eased in-line including the manufacturing
inflation which also fell near to one-year’s low figure. It eased by 1 per
cent on softening commodity prices and firming INR. The headline
inflation touched its two-year low of 6.6 per cent mainly supported by
sharp fall in food prices. The inflation figure came as a comforting
number for RBI which has double sided – government and industry
pressure to ease policy rates as high monetary policy rates have
started eating into economy health and to some extent, some sectors
contracted too. However, the recent tensions arising out of Iran and
other OPEC regions have raised the crude oil prices which may in turn
bring in the imported inflation back to the country. India’s major crude
oil requirements are imported and have a major hit on fiscal numbers.
The bond market remained shaky but traded range bound with slight
easing towards the month end. During the month, the 10-year
benchmark paper 8.79% G-Sec 2021 closed at 8.20 bps, down by 7
bps. The other highly traded paper, 9.15% G-Sec 2024 closed at 8.29
per cent, down by 11 bps. We expect that bond yields will take cue
from the upcoming policy review in mid-Mar.
On the liquidity front, the systematic liquidity remained in deficit mode.
From a high deficit of Rs. 1.41 lakh crore in Jan end, it reached its
historic high deficit of Rs. 1.81 lakh crore at the fag end of Feb.
Though the RBI continued with OMOs and bought back bonds worth
Rs. 30,016 crore, it didn’t help the market. With the advanced tax
outflow date nearing, it may worsen the liquidity further. The RBI is
caught between inflation and slowdown and the situation warrants an
accommodative policy but the policy dilemma is to continue.
In MIP category, DWS Twin Advantage Fund returned 4.07 per cent
on absolute basis in the month of Feb. In one year category, it
returned 7.99 per cent as the upside in equity led to high performance
in MIP. In Income Fund category, Templeton India IBA - Plan A –
Growth topped the chart with a net return of 1.18 per cent, absolute. In
Ultra Short Term Fund category, JM Money Manager Fund - Reg -
Growth topped the chart with a net absolute return of 0.81 per cent. In
Liquid category, the best performer is Escorts Liquid Plan – Growth
with a net absolute return of 0.89 per cent in one month. In Gilt
category, Tata Gilt Mid Term Fund - Growth topped the chart with an
absolute return of 1.47 per cent.
2

Performance of Recommended Schemes as on 29 February 2012
Category - Equity
Large Cap Funds
Scheme Name
Fidelity Equity Fund - Growth
Franklin India Bluechip - Growth
HDFC Top 200 - Growth
ICICI Pru Focused Bluechip Eq Fund-Ret-Gr
UTI Opportunities Fund - Growth
Multi Cap Funds
Scheme Name
Birla Sun Life Dividend Yield Plus - Growth
HDFC Equity Fund - Growth
ICICI Prudential Discovery Fund - Growth
IDFC Premier Eq Fund-Plan A-Growth
Reliance Equity Opportunities Fund - Gr
Small & Mid Cap Funds
Scheme Name
DSP BlackRock Small and Midcap Fund-Gr
Franklin India Prima Fund - Growth
HDFC Mid-Cap Opportunities Fund - Gr
SBI Mag Sec Funds Umbrella-Emg Buss-Gr
Sundaram Select Midcap - Growth
ELSS
Scheme Name
Fidelity Tax Advantage Fund - Growth
HDFC Taxsaver - Growth
ICICI Prudential Taxplan - Growth
Index Funds
Scheme Name
Birla Sun Life Index Fund - Growth
HDFC Index Fund - Nifty Plan
Arbitrage Derivative Equity Funds
Scheme Name
Kotak Equity Arbitrage Fund - Growth
Reliance Arbitrage Advantage Fund - Growth
Balanced Funds
Scheme Name
Birla Sun Life 95 - Growth
HDFC Balanced Fund - Growth
NAV
QAAUM
Returns (%)
3 yrs
(Rs.) (Rs.Crs.) 6 mnths 1 yr
306.58
501.65
4.08
3.87
27.53
58.33
502.58
6.75
12.11
33.47
5 yrs
12.07
14.77
Treynor
Ratio
0.0047
0.0372
Std.Dev
(%)
13.62
12.88
NAV
(Rs.)
15.67
11.18
QAAUM
(Rs.Crs.) 6 mnths
125.61
3.69
1.65
3.92
Returns (%)
1 yr
3 yrs
7.42
6.29
8.02
--
5 yrs
7.19
--
Treynor
Ratio
0.1450
-0.0492
Std.Dev
(%)
1.78
2.27
NAV
(Rs.)
52.88
46.37
QAAUM
(Rs.Crs.) 6 mnths
29.28
8.68
81.82
8.48
Returns (%)
1 yr
3 yrs
0.09
24.08
0.39
22.92
5 yrs
6.74
4.72
Treynor
Ratio
-0.0011
-0.0008
Std.Dev
(%)
22.70
22.35
NAV
QAAUM
(Rs.) (Rs.Crs.) 6 mnths
21.13
1124.80
5.31
225.11 2880.17
6.77
137.51 1197.24
9.20
Returns (%)
1 yr
3 yrs
1.66
31.86
3.12
35.95
3.72
38.41
5 yrs
11.93
10.73
10.10
Treynor
Ratio
-0.0004
0.0080
0.0055
Std.Dev
(%)
18.29
17.42
17.42
NAV
QAAUM
Returns (%)
3 yrs
(Rs.) (Rs.Crs.) 6 mnths 1 yr
17.03
1168.31
2.79
8.10
41.14
266.12
706.48
5.77
8.51
36.88
16.18
1700.35
6.24
16.37
42.30
43.74
455.79
3.62
17.50
50.83
146.77 1998.67
1.47
9.48
40.85
5 yrs
11.39
6.42
--
9.05
10.80
Treynor
Ratio
0.0427
0.0412
0.0798
0.0706
0.0450
Std.Dev
(%)
20.02
19.65
17.20
20.90
21.70
NAV
QAAUM
Returns (%)
3 yrs
(Rs.) (Rs.Crs.) 6 mnths 1 yr
85.68
1073.86
6.14
9.51
35.40
264.53 9178.82
7.78
1.24
39.08
48.17
1664.73 11.61
6.46
45.25
32.59
2407.02
1.92
10.73
40.02
36.03
3159.22
8.93
10.22
42.97
5 yrs
16.43
13.36
13.96
19.66
11.95
Treynor
Ratio
0.0511
0.0017
0.0382
0.0491
0.0516
Std.Dev
(%)
15.88
20.26
17.70
18.57
19.64
NAV
QAAUM
Returns (%)
3 yrs
(Rs.) (Rs.Crs.) 6 mnths 1 yr
34.43
3370.77
6.34
2.19
31.46
216.28 4261.76 10.06
6.30
32.20
203.85 10537.06 9.28
3.16
34.11
16.62
3532.16 11.25
7.76
33.72
28.53
2385.16
9.60
12.82
34.38
5 yrs
11.22
12.05
14.55
--
16.66
Treynor
Ratio
0.0038
0.0148
0.0092
0.0235
0.0403
Std.Dev
(%)
18.33
18.42
20.45
20.12
19.38
Below 1 year absolute returns, above 1 year CAGR; Treynor Ratio is calculated on a daily rolling and daily frequency basis over a period of one year with Risk Free Rate of 8.51%.
Standard Deviation is annualized based on 3 years performance on a daily rolling and daily frequency.
QAAUM as on December 31, 2011
3

Category - Debt
MIP Aggressive (Equity > 15%)
Scheme Name
HDFC Multiple Yield Fund - Growth
Reliance MIP - Growth
MIP Defensive (Equity < 15%)
Scheme Name
Birla Sun Life MIP - Savings 5 - Growth
HDFC Multiple Yield Fund - Plan 2005 - Growth
Income Funds
Scheme Name
Birla SL Dynamic Bond Fund-Ret-Gr
Reliance Income Fund-Ret-GP-Growth
Gilt Funds
Scheme Name
Birla Sun Life G Sec Fund - LT - Growth
DSP BR Govt. Securities Fund-Gr
Short Term Funds
Scheme Name
ICICI Prudential STP - Growth
Templeton India STIP - Growth
Ultra Short Term Funds
Scheme Name
HDFC Cash Mgt Fund-Trsry Adv-Ret-Gr
Kotak Floater - LT - Growth
Liquid Funds
Scheme Name
HDFC Cash Mgmt Fund-Saving Plan-Gr
Reliance Liquid Fund - Cash Plan - Gr
Liquid Fund - IP
Scheme Name
HDFC Liquid Fund-Prem Plan-Gr
UTI Liquid Fund-Cash Plan-IP-Gr
Floating Rate Funds
Scheme Name
Birla Sun Life Fltng Rate Fund-LTP-Gr
UTI Floating Rate Fund - STP - Growth
NAV
QAAUM
(Rs.) (Rs.Crs.) 6 mnths
182.81
174.14
9.32
1717.25 1644.62
8.09
Returns (%)
1 yr
3 yrs
9.43
7.94
8.34
6.53
5 yrs
8.36
7.15
Treynor
Ratio
-0.2109
-0.8752
Std.Dev
(%)
0.16
0.09
NAV
QAAUM
(Rs.) (Rs.Crs.) 6 mnths
21.31 10168.04 9.25
1745.70 8710.18
9.29
Returns (%)
1 yr
3 yrs
9.20
6.73
9.18
6.67
5 yrs
7.46
7.33
Treynor
Ratio
0.0031
0.0017
Std.Dev
(%)
0.10
0.10
NAV
(Rs.)
22.21
17.23
QAAUM
(Rs.Crs.) 6 mnths
2738.68
9.13
1673.25
9.07
Returns (%)
1 yr
3 yrs
9.13
6.70
9.15
5.58
5 yrs
7.43
5.78
Treynor
Ratio
0.0027
0.0040
Std.Dev
(%)
0.10
0.15
NAV
(Rs.)
22.95
16.92
QAAUM
(Rs.Crs.) 6 mnths
16667.06 8.47
3689.90
9.12
Returns (%)
1 yr
3 yrs
8.72
6.54
9.39
6.99
5 yrs
7.30
7.85
Treynor
Ratio
-0.4718
0.5992
Std.Dev
(%)
0.09
0.10
NAV
QAAUM
(Rs.) (Rs.Crs.) 6 mnths
21.68
1097.26
8.87
2118.22 4673.89
8.51
Returns (%)
1 yr
3 yrs
9.51
6.77
9.48
8.55
5 yrs
8.95
9.38
Treynor
Ratio
0.0063
0.0167
Std.Dev
(%)
0.94
0.62
NAV
(Rs.)
30.98
35.36
QAAUM
(Rs.Crs.) 6 mnths
273.95
12.21
145.52
9.08
Returns (%)
1 yr
3 yrs
9.47
11.58
6.22
3.85
5 yrs
9.38
9.02
Treynor
Ratio
0.0032
-0.0034
Std.Dev
(%)
4.30
3.91
NAV
(Rs.)
17.88
34.92
QAAUM
Returns (%)
3 yrs
(Rs.Crs.) 6 mnths 1 yr
3593.43
9.60
10.39
7.74
129.23
9.87
9.21
6.00
5 yrs
9.48
8.59
Treynor
Ratio
0.0133
0.0016
Std.Dev
(%)
0.91
2.90
NAV
(Rs.)
19.04
17.65
QAAUM
Returns (%)
3 yrs
(Rs.Crs.) 6 mnths 1 yr
398.50
10.34
10.03
8.65
592.52
8.73
10.18
13.71
5 yrs
10.49
9.82
Treynor
Ratio
0.0162
0.1725
Std.Dev
(%)
2.07
2.33
NAV
(Rs.)
19.62
23.08
QAAUM
Returns (%)
3 yrs
(Rs.Crs.) 6 mnths 1 yr
78.27
12.75
13.27
14.44
5182.30 11.92
9.16
14.02
5 yrs
10.29
11.11
Treynor
Ratio
0.3046
0.0105
Std.Dev
(%)
3.72
4.44
Below 1 year simple annualized returns, above 1 year CAGR; Treynor Ratio is calculated on a daily rolling and daily frequency basis over a period of one year with Risk Free Rate of
8.51%.
Standard Deviation is annualized based on 3 years performance on a daily rolling and daily frequency.
QAAUM as on December 31, 2011
4

Most Popular Scrips held by Mutual Fund Houses as on February 29, 2012
Company Name
ICICI Bank Ltd.
Reliance Industries Ltd.
Infosys Ltd.
Bharti Airtel Ltd.
State Bank of India
HDFC Bank Ltd.
Housing Development Finance Corporation Ltd.
Larsen & Toubro Ltd.
ITC Ltd.
Oil & Natural Gas Corpn Ltd.
Tata Consultancy Services Ltd.
Axis Bank Ltd.
Mahindra & Mahindra Ltd.
Tata Motors Ltd.
Tata Steel Ltd.
Coal India Ltd.
Bharat Petroleum Corporation Ltd.
Sterlite Industries (India) Ltd.
Power Grid Corporation of India Ltd.
Hindustan Unilever Ltd.
Jindal Steel and Power Ltd.
Total
No.of
schemes
289
286
277
271
246
242
230
229
227
222
219
188
177
173
170
169
162
161
158
157
153
Sum of No.of
shares held
87,600,030
77,162,920
25,002,130
126,825,800
28,301,710
79,764,300
45,015,870
19,287,630
177,609,500
107,693,700
31,263,180
15,339,140
17,092,300
75,275,660
34,158,560
57,675,940
35,717,730
125,766,200
104,142,500
36,841,440
23,350,780
Sum of market
value (Rs.Crs.)
7,939
6,332
7,207
4,439
6,361
4,125
2,835
2,523
3,688
3,158
3,820
1,807
1,212
2,040
1,614
1,929
2,365
1,568
1,176
1,401
1,361
No. of schemes
having exposure>
5%
136
125
148
18
29
100
45
24
83
18
24
8
5
14
1
5
5
5
8
8
4
No. of schemes
having exposure
>10%
6
5
6
1
4
4
0
0
2
1
4
0
0
1
0
2
1
0
0
2
0
Top Flavours Of Equity Diversified MF Schemes as on February 29, 2012
Steel and Ferrous Metal
Construction materials
Telecom Services
Engineering and Capital Goods
FMCG
Pharmaceuticals & Biotechnology
Auto & Auto Ancillaries
Petrochemical
Software and Consultancy Services
Banks
0%
2%
4%
6%
8%
10%
12%
14%
16%
2.37%
2.45%
2.50%
2.60%
3.22%
2.74%
3.68%
3.86%
5.49%
5.35%
7.15%
6.52%
7.17%
7.58%
10.41%
9.87%
10.56%
10.81%
17.21%
16.78%
18%
20%
Jan-12
Feb-12
The top 10 sectors in the Equity Diversified category observed a slight plunge in its exposure to reach 68.56% from 69.75% in the prior month.
Although the exposure fell marginally than the previous month, the Banking sector remained the most favored sector for the fund managers,
taking cues from the ultra cheap loans granted by European Central Bank in an effort to boost lending in the real economy. Added to this,
China's central bank easing monetary policy by cutting reserve requirement ratio by 50 basis points also bolstered the market sentiments. BSE
Bankex surpassed BSE Sensex, which symbolizes the overall market on expectation of cut in CRR in the upcoming RBI monetary policy. The
broader market surged by 3.25% as against 5.12% rise witnessed by BSE Bankex. With 10.81% exposure, the Software sector seconded the
Banking sector in the list of sectoral exposure. Offsetting the impact of depreciated dollar owing to the Greece's approval of austerity measures,
Indian IT sector despite of being primarily export oriented, retained its superior position. However, huge inflows of FII and continued rally in
domestic stocks enabled the Indian currency to touch a three-month high against the greenback cushioned the sector. BSE IT observed a hike
of 6.63% during the month under review. Moreover, these two top favored sectors witnessed maximum movement in the employment front as
well. It was followed by the Petrochemical sector with 9.87% exposure, marginally lower than the previous month. The month witnessed surge
in the global crude oil prices. This can be attributed to the driving factors like lingering tensions over Iran's nuclear programme and a report
stating pipeline explosion in Saudi Arabia, both of which raised fears of supply disruptions. BSE Oil & Gas rose by 2.49%. Marginal increase in
exposure was observed in two more sectors namely- Auto & Auto Ancillaries and Engineering and Capital Goods. The rest sectors witnessed
marginal decline in exposures relative to the previous month. It can be concluded that the month ended witnessing gains in majority of the
sectoral indices, primarily on account of expectation of economic recovery in the upcoming financial year.
5

Unique Holding By Mutual Fund Schemes As On 29 February 2012
Scrip Name
Ahmednagar Forgings Ltd.
AllSec. Technology Ltd.
Anglo Platinum Ltd
Anton Oilfield Services Group
Asahi India Glass Ltd.
Asian Oilfield Services Ltd.
Astra Microwave Products Ltd.
Automotive Axles Ltd.
B F Utilities Ltd.
Balaji Telefilms Ltd.
Banco Products Ltd.
BASF India Ltd.
BHP Billiton Plc
Binani Industries Ltd.
BOC India Ltd.
Butterfly Gandhimathi Appliances Ltd
Camson Bio Tech.
Caterpillar
CCL Product Ltd.
Century Enka Ltd.
Chennai Interactive Business Services Pvt Ltd.
China Coal Energy Company Ltd
Chiyoda Corp NPV
Chongqing Machinery & Elec Co Ltd
Cockatoo Coal Ltd.
COSCO Pacific Ltd.
DCM Shriram Consolidated Ltd.
Deere & co. Ltd.
Dharti Dredging & Infrastructure Ltd.
DS Kulkarni Developers Ltd.
Easun Reyrolle Ltd.
Electrosteel Steels Ltd
Embotelladora Andina (Chile)
EMCO Ltd.
Enkei Wheels ( India ) Ltd
Essar Oil Ltd.
Eveready Industries India Ltd.
Everest Industries Ltd.
Galaxy Resources Limited
Garware Polyester Ltd.
Gayatri BioOrganics Ltd.
Godawari Power & Ispat Ltd.
Goodricke Group Ltd.
Greenply Inds Ltd.
GS Home Shopping
Gulf Oil Corporation Ltd.
Heritage Foods Ltd.
Hexa Tradex Ltd.
Hi- Tech Gears Ltd.
Hikal Ltd.
HIM Teknoforge Ltd.
Himadri Chemicals & Industries Ltd.
Himatsingka Seide Ltd.
Hindustan Copper Ltd.
Hindustan Oil Exploration Co. Ltd.
Hyderabad Industries Ltd.
IFGL Refractories Ltd.
India Nippon Electricals Ltd.
Indiabulls Power Ltd.
Indo Count Industries Ltd.
Indo Tech Transformers Ltd.
Ineos Abs (India) Ltd.
Innoventive Industries Ltd
IS Yatirim Menkul Degerler AS (Turkey)
ISMT Ltd.
Scheme
HDFC Mid-Cap Opportunities Fund - Gr
UTI Mid Cap Fund - Growth
Templeton India Equity Income Fund - Growth
Reliance Natural Resources Fund - Growth
UTI Transportation and Logistics Fund - Growth
Sahara Infra Fund-Fixed Pricing-Growth
Reliance Long Term Equity Fund - Growth
Reliance Vision - Growth
HSBC Midcap Equity Fund - Growth
Reliance Media & Entertainment Fund - Growth
ICICI Prudential MidCap Fund - Growth
IDFC Sterling Equity Fund - Growth
Reliance Natural Resources Fund - Growth
DSP BlackRock Micro Cap Fund-Regular-Gr
Edelweiss Select Midcap Fund - Growth
SBI Tax Advantage Fund - Series 1 - Growth
SBI Magnum COMMA Fund - Growth
Reliance Natural Resources Fund - Growth
Reliance Long Term Equity Fund - Growth
Reliance Small Cap Fund - Growth
Franklin India Opportunity Fund - Growth
Templeton India Equity Income Fund - Growth
Reliance Natural Resources Fund - Growth
Templeton India Equity Income Fund - Growth
Reliance Natural Resources Fund - Growth
Templeton India Equity Income Fund - Growth
Reliance Eq Linked Saving Fund-Series I-Gr
Reliance Natural Resources Fund - Growth
Birla Sun Life Advantage Fund - Growth
UTI Infrastructure Fund - Growth
Sundaram SMILE Fund - Growth
ICICI Prudential Infrastructure Fund - Growth
Templeton India Equity Income Fund - Growth
UTI Energy Fund - Growth
UTI Transportation and Logistics Fund - Growth
Kotak Equity Arbitrage Fund - Growth
UTI Master Value Fund - Growth
Reliance Long Term Equity Fund - Growth
Reliance Natural Resources Fund - Growth
Sundaram Select Midcap - Growth
SBI Magnum Multiplier Plus 93 - Growth
ICICI Prudential Discovery Fund - Growth
SBI Mag Sec Funds Umbrella-Emg Buss-Gr
HSBC Small Cap Fund - Growth
Templeton India Equity Income Fund - Growth
Reliance Long Term Equity Fund - Growth
Sundaram Rural India Fund - Growth
Birla Sun Life Small & Midcap Fund - Growth
Sahara Star Value Fund - Growth
Reliance Eq Linked Saving Fund-Series I-Gr
Franklin India Prima Fund - Growth
Sundaram Select Midcap - Growth
Mirae Asset Emerging Bluechip Fund - Growth
Baroda Pioneer PSU Equity Fund - Growth
DSP BlackRock Small and Midcap Fund-Gr
ICICI Prudential MidCap Fund - Growth
UTI Master Value Fund - Growth
ICICI Prudential Discovery Fund - Growth
Edelweiss Select Midcap Fund - Growth
UTI Mid Cap Fund - Growth
HSBC Small Cap Fund - Growth
Kotak Emerging Equity Scheme - Growth
Reliance Regular Savings Fund - Equity - Growth
Templeton India Equity Income Fund - Growth
UTI Equity Tax Savings Plan - Growth
No of
Mkt.Value Change in 1 Mnth
shares
(Rs. Crs.)
(% of shares)
-5.41
1,094,988
20.91
-1.25
453,013
0.59
0.00
100,000
21.39
--
7.14
-5.20
89,215
0.53
-78.78
6,365
0.02
-2.11
3,569,955
13.07
-1.05
1,339,007
66.48
0.00
28,650
1.14
-3.75
1,216,939
5.08
-4.18
761,439
5.07
-4.98
224,019
11.23
--
47.82
1.14
315,607
3.63
--
2,372
0.11
-2.52
158,077
5.89
-1.58
796,537
4.69
--
98.45
-2.11
1,296,877
20.13
-1.58
452,753
5.22
0.00
23,815
0.01
0.00
1,000,000
6.29
--
36.76
0.00
18,780,000
20.05
--
11.82
0.00
5,200,000
38.50
-3.58
762,803
3.12
--
11.80
--
0.54
10.51
239,876
1.43
4.92
782,186
5.23
-2.13
13,081,470
9.16
0.00
400,000
8.43
-7.65
180,967
0.65
-36.48
69,294
0.28
--
144,000
0.88
-75.00
1,420,464
3.97
-2.11
1,016,741
13.39
--
7.74
8.31
349,833
4.18
-32.91
156,332
0.07
-3.40
1,930,397
20.32
-7.04
434,083
5.56
0.33
12,864
0.27
0.00
25,000
13.18
-2.11
2,438,296
18.62
-0.33
69,208
1.16
--
0.08
-11.52
4,070
0.06
-60.73
63,128
1.70
0.00
170,000
0.00
10.01
2,514,423
10.46
3.35
351,455
1.20
-5.88
28,630
0.84
0.00
557,000
7.66
-5.18
154,366
5.34
-5.28
608,888
2.41
-3.40
192,978
3.30
--
19,162
0.03
-8.14
443,443
0.31
2.91
42,392
0.41
0.00
16,276
1.12
-2.56
3,298,380
34.27
0.00
4,355,582
19.77
-9.63
572,986
1.66
6

STOCK-IN STOCK-OUT IN THE TOP PERFORMING EQUITY DIVERSIFIED SCHEMES
AS On 29 February 2012
Scheme Name
Birla Sun Life 95 - Growth
Stock-in
Canara Bank Ltd.
Century Textiles & Industries Ltd.
Everonn Education Ltd.
GVK Power & Infrastructure Ltd.
JSW Steel Ltd.
PTC India Ltd.
Sterlite Industries (India) Ltd.
Tata Motors Ltd.
United Spirits Ltd.
Andhra Bank
Industrial Development Bank of India Ltd.
Nil
Ashok Leyland Ltd.
IndusInd Bank Ltd.
Lanco Infratech Ltd.
Max India Ltd.
Stock-out
Cipla Ltd.
Power Grid Corporation of India Ltd.
Birla Sun Life Dividend Yield Plus - Growth
Alstom Projects India Ltd.
Geometric Ltd.
Nil
Dish TV India Ltd.
Financial Technologies Ltd.
IVRCL Ltd.
Oriental Bank of Commerce Ltd.
United Spirits Ltd.
Bharat Heavy Electricals Ltd.
Hindustan Zinc Ltd.
Rural Electrification Corporation
Siemens Ltd.
Escorts Ltd.
Taj G V K Hotels & Resorts Ltd.
Titan Industries Ltd.
Union Bank Of India Ltd.
Aurobindo Pharma Ltd.
Bharat Petroleum Corporation Ltd.
Coal India Ltd.
Oracle Financial Services Software Ltd.
Birla Sun Life Index Fund - Growth
DSP BlackRock Small and Midcap Fund-Gr
Franklin India Bluechip - Growth
Bank of Baroda
ITC Ltd.
Franklin India Prima Fund - Growth
Britannia Industries Ltd.
Dish TV India Ltd.
Voltas Ltd.
HDFC Balanced Fund - Growth
Nil
7

STOCK-IN STOCK-OUT IN THE TOP PERFORMING EQUITY DIVERSIFIED SCHEMES
AS On 29 February 2012
Scheme Name
HDFC Equity Fund - Growth
Stock-in
Balkrishna Industries Ltd.
ITC Ltd.
Motherson Sumi Systems Ltd.
Raymond Ltd.
Reliance Capital Ltd.
Nil
Stock-out
Axis Bank Ltd.
HT Media Ltd.
HDFC Index Fund - Nifty Plan
HDFC Mid-Cap Opportunities Fund - Gr
Nil
Castrol India Ltd.
Natco Pharma Ltd.
NRB Bearings Ltd.
Sun Pharmaceuticals Industries Ltd.
HDFC Taxsaver - Growth
HDFC Top 200 - Growth
Federal Bank Ltd.
Adani Ports and Special Economic Zone Ltd. Gas Authority of India Ltd.
Tata Power Co. Ltd.
NTPC Ltd.
Texmaco Rail & Engineering Ltd
Eveready Industries India Ltd.
IPCA Laboratories Ltd.
Kesoram Industries Ltd.
Nil
ICICI Prudential Discovery Fund - Growth
ICICI Pru Focused Bluechip Eq Fund-Ret-Gr
Coal India Ltd.
Housing Dev Fin Corp Ltd.
Bharat Petroleum Corporation Ltd.
Coal India Ltd.
Great Eastern Shipping Co. Ltd.
Housing Dev Fin Corp Ltd.
ITC Ltd.
Wipro Ltd.
ICICI Prudential Taxplan - Growth
Axis Bank Ltd.
Bajaj Auto Ltd.
HCL Technologies Ltd.
Infrastructure Development Finance Co. Ltd.
Jagran Prakashan Ltd.
Oil India Ltd.
Voltamp Transformers Ltd.
Larsen & Toubro Ltd.
IDFC Premier Eq Fund-Plan A-Growth
Ambuja Cements Ltd.
MRF Ltd.
Max India Ltd.
Infosys Ltd.
ITC Ltd.
Torrent Pharmaceuticals Ltd.
Adani Power Ltd
Bata India Ltd.
Canara Bank Ltd.
Hathway Cable & Datacom Ltd
Magma Fincorp Ltd
Sundaram Clayton Ltd.
Tata Communications Ltd.
Time Technoplast Ltd.
WABCO India Ltd.
Nil
Reliance Equity Opportunities Fund - Gr
SBI Mag Sec Funds Umbrella-Emg Buss-Gr
Crompton Greaves Ltd.
Manappuram Finance Ltd.
Reliance Industries Ltd.
Tata Consultancy Services Ltd.
Apollo Tyres Ltd.
Power Finance Corporation Ltd.
Sterlite Technologies Ltd.
Voltas Ltd.
Sundaram Select Midcap - Growth
UTI Opportunities Fund - Growth
Nil
8

Risk Return Matrix - Large Cap Funds
Risk Return Matrix(7 Days Rolling)
Higher Risk
Lower Returns
HDFC Top 200 - Growth
0.9824
ICICI Prudential Focused
Bluechip Equity Fund - Ret -
Growth
Higher Risk
Higher Returns
0.9324
Tata Pure Equity Fund - Growth
0.8824
Franklin India Prima Plus -
Growth
Fidelity India Growth Fund -
Growth
-0.0088
-0.0038
0.0012
0.0062
0.8324 0.0112
0.0162
0.0212
0.0262
Fidelity Equity Fund - Growth
Franklin India Bluechip - Growth
0.7824
UTI Opportunities Fund - Growth
UTI Equity Fund - Growth
0.7324
Lower Risk
Lower Returns
Canara Robeco Equity
Diversified - Growth
0.6824
Lower Risk
Higher Returns
==Average Rolling Returns (X axis)====>
The above charts give you a brief snapshot how the mutual funds have performed on the historical risk-return constraints. Here, we
have used the Bubble Analysis method to measure their performances on three parameters risk, returns and fund size. The Standard
Deviation (SD) supports the risk factor which measures the average deviation of the returns generated by a scheme from its mean
return. The size of the bubble indicates the size of the fund. The diagram comprises of four quadrants on which the x-axis represents
the Average Rolling Returns while y-axis represents the Standard Deviation.
The funds falling in the High-Risk, High-Return quadrant follows an aggressive approach and delivers high absolute return compared
to its other peers albeit at a higher risk. The fund in High-Risk, Low-Return quadrant underperforms the peers as they fail to
compensate the risks taken by the fund. The funds in Low-Risk, Low Return quadrant are not very aggressive. For all funds, risk is
measured in terms of two years' volatility while returns are measured as three months' average rolling returns as on February 2012.
9

Risk Return Matrix - Multi Cap Funds
Risk Return Matrix(7 Days Rolling)
Higher Risk
Lower Returns
0.9290
HDFC Growth Fund - Growth
Reliance Equity Opportunities
Fund - Growth
Higher Risk
Higher Returns
0.8790
HDFC Equity Fund - Growth
Birla Sun Life India GenNext
Fund - Growth
ICICI Prudential Discovery Fund
- Growth
0.8290
0.0059
0.0109
0.0159
0.0209
0.0259
0.0309
0.0359
0.0409
IDFC Premier Equity Fund - Plan
A - Growth
0.7790
Tata Dividend Yield Fund -
Growth
HDFC Capital Builder Fund -
Growth
0.7290
Lower Risk
Lower Returns
UTI Wealth Builder Fund - Series
II - Growth
Birla Sun Life Dividend Yield
Plus - Growth
0.6790
Lower Risk
Higher Returns
==Average Rolling Returns (X axis)====>
The above charts give you a brief snapshot how the mutual funds have performed on the historical risk-return constraints. Here, we
have used the Bubble Analysis method to measure their performances on three parameters risk, returns and fund size. The Standard
Deviation (SD) supports the risk factor which measures the average deviation of the returns generated by a scheme from its mean
return. The size of the bubble indicates the size of the fund. The diagram comprises of four quadrants on which the x-axis represents
the Average Rolling Returns while y-axis represents the Standard Deviation.
The funds falling in the High-Risk, High-Return quadrant follows an aggressive approach and delivers high absolute return compared
to its other peers albeit at a higher risk. The fund in High-Risk, Low-Return quadrant underperforms the peers as they fail to
compensate the risks taken by the fund. The funds in Low-Risk, Low Return quadrant are not very aggressive. For all funds, risk is
measured in terms of two years' volatility while returns are measured as three months' average rolling returns as on February 2012.
10

Risk Return Matrix - Small Cap Funds
Risk Return Matrix(7 Days Rolling)
Higher Risk
Lower Returns
Sundaram Select Midcap -
Growth
Higher Risk
Higher Returns
0.9502
UTI Mid Cap Fund - Growth
DSP BlackRock Small and
Midcap Fund - Growth
0.9002
SBI Magnum Sector Funds
Umbrella - Emerg Buss Fund -
Growth
0.8502
-0.0032
0.0068
0.0168
Birla Sun Life Small & Midcap
Fund - Growth
0.8002
0.0268
0.0368
Religare Mid Cap Fund - Growth
0.0468
Franklin India Prima Fund -
Growth
0.7502
Canara Robeco Emerging
Equities - Growth
HDFC Mid-Cap Opportunities
Fund - Growth
Lower Risk
Lower Returns
SBI Magnum Global Fund 94 -
Growth
0.7002
Lower Risk
Higher Returns
==Average Rolling Returns (X axis)====>
The above charts give you a brief snapshot how the mutual funds have performed on the historical risk-return constraints. Here, we
have used the Bubble Analysis method to measure their performances on three parameters risk, returns and fund size. The Standard
Deviation (SD) supports the risk factor which measures the average deviation of the returns generated by a scheme from its mean
return. The size of the bubble indicates the size of the fund. The diagram comprises of four quadrants on which the x-axis represents
the Average Rolling Returns while y-axis represents the Standard Deviation.
The funds falling in the High-Risk, High-Return quadrant follows an aggressive approach and delivers high absolute return compared
to its other peers albeit at a higher risk. The fund in High-Risk, Low-Return quadrant underperforms the peers as they fail to
compensate the risks taken by the fund. The funds in Low-Risk, Low Return quadrant are not very aggressive. For all funds, risk is
measured in terms of two years' volatility while returns are measured as three months' average rolling returns as on February 2012.
11

Equity Funds - Holding by Market Cap & Concentration
Scheme Name
Large Cap Funds
Fidelity Equity Fund - Growth
#
Franklin India Bluechip - Growth
HDFC Top 200 - Growth
ICICI Pru Focused Bluechip Eq Fund-Ret-Gr
UTI Opportunities Fund - Growth
Multi Cap Funds
Birla Sun Life Dividend Yield Plus - Growth
HDFC Equity Fund - Growth
ICICI Prudential Discovery Fund - Growth
IDFC Premier Eq Fund-Plan A-Growth
Reliance Equity Opportunities Fund - Gr
Small & Mid Cap Funds
DSP BlackRock Small and Midcap Fund-Gr
Franklin India Prima Fund - Growth
HDFC Mid-Cap Opportunities Fund - Gr
SBI Mag Sec Funds Umbrella-Emg Buss-Gr
Sundaram Select Midcap - Growth
ELSS
Fidelity Tax Advantage Fund - Growth
#
HDFC Taxsaver - Growth
ICICI Prudential Taxplan - Growth
Index Funds
Birla Sun Life Index Fund - Growth
HDFC Index Fund - Nifty Plan
Arbitrage Derivative Equity Funds
Kotak Equity Arbitrage Fund - Growth
Reliance Arbitrage Advantage Fund - Growth
Balanced Funds
Birla Sun Life 95 - Growth
HDFC Balanced Fund - Growth
QAAUM
(Rs. Crs.)
3370.77
4261.76
10537.06
3532.16
2385.16
No.of
stocks
63.00
43.00
33.00
26.00
39.00
Average
Exposure
53.50
99.11
319.30
135.85
61.16
BSE
Sensex
55.01
52.72
56.77
67.07
52.15
Index
BSE
Midcap
10.43
1.59
N.A
N.A
9.71
BSE Small
Cap
2.13
N.A
N.A
N.A
N.A
Portfolio Diversification (%)
Top 5
Top 10
Holdings
Holdings
25.50
30.67
28.74
35.18
23.94
41.96
46.02
45.07
59.21
43.10
1073.86
9178.82
1664.73
2407.02
3159.22
76.00
34.00
60.00
29.00
36.00
14.13
269.97
27.75
83.00
87.76
22.82
42.74
22.18
N.A
29.98
29.90
7.04
36.30
37.06
25.69
8.51
N.A
18.62
7.05
7.85
16.16
28.22
24.54
21.32
23.00
27.40
42.33
39.42
37.44
38.11
1168.31
706.48
1700.35
455.79
1998.67
65.00
54.00
40.00
24.00
61.00
17.97
13.08
42.51
18.99
32.77
N.A
4.55
N.A
16.38
N.A
81.24
54.94
32.66
23.27
59.80
12.66
7.86
13.44
37.58
11.80
17.54
20.11
18.60
32.53
23.90
31.26
34.37
31.59
54.05
40.30
1124.80
2880.17
1197.24
59.00
38.00
53.00
19.06
75.79
22.59
54.44
33.65
53.20
10.86
21.12
8.29
3.90
0.89
13.68
25.41
23.96
32.01
41.28
37.77
46.36
29.28
81.82
50.00
51.00
0.59
1.60
76.73
85.91
N.A
N.A
N.A
N.A
32.42
36.23
50.34
56.42
125.61
1.65
49.00
16.00
2.56
0.10
14.73
18.93
32.56
31.41
2.92
10.71
27.25
33.30
40.60
59.07
501.65
502.58
63.00
32.00
7.96
15.71
38.87
17.11
8.92
15.19
0.35
2.58
16.86
13.38
28.68
24.11
# Data is as of January, 2012.
QAAUM as on December 31, 2011
12

Debt Funds - Portfolio Composition
Scheme Name
Income Funds
Birla SL Dynamic Bond Fund-Ret-Gr
Reliance Income Fund-Ret-GP-Growth
Short Term Funds
ICICI Prudential STP - Growth
Templeton India STIP - Growth
Floating Rate Funds
Birla Sun Life Fltng Rate Fund-LTP-Gr
UTI Floating Rate Fund - STP - Growth
Liquid Funds
HDFC Cash Mgmt Fund-Saving Plan-Gr
Reliance Liquid Fund - Cash Plan - Gr
Liquid Fund - IP
HDFC Liquid Fund-Prem Plan-Gr
UTI Liquid Fund-Cash Plan-IP-Gr
Ultra Short Term Funds
HDFC Cash Mgt Fund-Trsry Adv-Ret-Gr
Kotak Floater - LT - Growth
Gilt Funds
Birla Sun Life G Sec Fund - LT - Growth
DSP BR Govt. Securities Fund-Gr
QAAUM
(Rs. Crs.)
3593.43
129.23
Average
Maturity
(Days)
650.00
$
3086.00
AAA/P+
AA/AA+ Below AA Sovereign
Equity
Call &
Cash
12.49
12.09
Unrated
58.26
57.62
29.26
0.00
0.00
0.00
0.00
30.29
0.00
0.00
0.00
0.00
1097.26
4673.89
759.00
325.00
69.24
61.73
25.94
25.71
0.00
11.49
0.00
0.00
0.00
0.00
4.82
1.07
0.00
0.00
174.14
1644.62
73.00
$
42.00
94.27
90.61
0.00
0.33
0.00
0.00
0.00
0.00
0.00
0.00
5.73
9.06
0.00
0.00
2738.68
1673.25
50.00
37.00
74.18
80.70
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
25.82
19.30
0.00
0.00
10168.04
8710.18
36.00
24.00
61.39
88.60
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
38.61
11.40
0.00
0.00
16667.06
3689.90
42.00
99.00
71.31
90.82
0.00
7.01
0.00
0.00
0.02
0.00
0.00
0.00
28.67
2.17
0.00
0.00
273.95
145.52
2354.00
$
3734.00
^
0.00
0.00
0.00
0.00
0.00
0.00
90.79
86.32
0.00
0.00
9.21
13.68
0.00
0.00
QAAUM as on December 31, 2011; $ indicates Modified Duration (Days); ^ indicates Average Maturity (Days) as on January 2012
13

Transaction Trends of Mutual Funds and FIIs in Domestic Equity Market
Mutual Funds Transactions
Equity
Date
01/02/2012
02/02/2012
03/02/2012
06/02/2012
07/02/2012
08/02/2012
09/02/2012
10/02/2012
13/02/2012
14/02/2012
15/02/2012
16/02/2012
17/02/2012
21/02/2012
22/02/2012
23/02/2012
24/02/2012
27/02/2012
28/02/2012
29/02/2012
Total
Purchase
950.0
802.7
471.2
727.6
476.3
716.9
439.7
674.5
312.9
536.4
1299.0
672.5
1291.1
634.1
667.4
751.5
1659.7
514.7
686.4
655.8
14940.4
Sale
765.5
915.5
860.0
638.3
757.3
687.0
821.0
717.4
574.1
484.1
1084.7
1104.9
1305.1
971.6
1327.3
974.6
960.0
863.1
578.0
722.0
17111.5
Net
184.5
-112.8
-388.8
89.3
-281.0
29.9
-381.3
-42.9
-261.2
52.3
214.3
-432.4
-14.0
-337.5
-659.9
-223.1
699.7
-348.4
108.4
-66.2
-2171.1
Purchase
7069.1
3121.3
5727.3
3913.5
4445.9
4908.1
3068.9
3987.2
4800.6
4108.1
3710.7
8.7
5375.2
5142.8
4374.0
5198.5
5031.2
5328.2
3534.3
5726.0
88579.6
Debt
Sale
2650.3
2540.3
2776.8
3693.9
3689.4
3155.5
2937.9
4232.5
2256.4
1881.7
3033.6
4.6
1938.4
3188.9
2481.3
3262.5
5446.9
5002.4
5670.6
8023.5
67867.4
Net
4418.8
581.0
2950.5
219.6
756.5
1752.6
131.0
-245.3
2544.2
2226.4
677.1
4.1
3436.8
1953.9
1892.7
1936.0
-415.7
325.8
-2136.3
-2297.5
20712.2
The Indian markets registered positive
movement during the month of February
following robust FII inflows along with
good manufacturing sector growth for
January 2012. Majority of the gains can be
attributed to the first half of the month on
the back of certain positive economic
indicators such as strong growth in the
service sector and better than expected
WPI numbers, which raised the hope of
rate cut by RBI in upcoming monetary
policy. However, second half of the month
witnessed some profit booking on
concerns of rising global crude oil prices
which might affect the fiscal deficit position
of India which imports around 80% of its
oil requirements.Sensex and Nifty gained
3.24% and 3.57% respectively during the
month. Indian rupee which gained 0.8%
during the month further drove the
markets northward.
Fll Transactions
Equity
Date
01/02/2012
02/02/2012
03/02/2012
06/02/2012
07/02/2012
08/02/2012
09/02/2012
10/02/2012
13/02/2012
14/02/2012
15/02/2012
17/02/2012
21/02/2012
22/02/2012
23/02/2012
24/02/2012
27/02/2012
28/02/2012
29/02/2012
Total
Purchase
3459.7
5227.2
5124.8
3192.3
3509.8
2893.4
4405.4
3988.6
2666.4
2591.6
2971.7
7863.8
4095.0
4093.7
4024.0
4080.6
9675.9
3079.3
2955.4
79898.6
Sale
2814.6
3134.5
2989.9
2218.4
2405.5
2201.1
3954.9
2538.2
2323.1
1944.0
1825.0
5678.5
3500.4
2599.2
3057.0
3703.8
2077.8
3621.7
2099.0
54686.6
Net
645.1
2092.7
2134.9
973.9
1104.3
692.3
450.5
1450.4
343.3
647.6
1146.7
2185.3
594.6
1494.5
967.0
376.8
7598.1
-542.4
856.4
25212.0
Purchase
259.2
319.8
1441.5
663.0
785.5
410.8
1409.8
433.3
2402.1
288.2
332.1
713.9
419.9
397.0
805.0
1199.1
4104.1
3789.6
3561.4
23735.3
Debt
Sale
150.3
287.5
991.1
921.7
918.8
645.5
582.6
959.0
676.5
479.9
646.3
1401.0
582.6
337.9
381.9
1007.4
367.4
1286.5
1095.7
13719.6
Net
108.9
32.3
450.4
-258.7
-133.3
-234.7
827.2
-525.7
1725.6
-191.7
-314.2
-687.1
-162.7
59.1
423.1
191.7
3736.7
2503.1
2465.7
10015.7
Mutual Funds stood as net sellers of equiy
to the tune of Rs. 2171.1 crore as
compared to Rs. 1858 in the previous
month. In the Debt segment net purchase
rose sharply to Rs. 20712.2 crore in the
current month from Rs. 9440 crore in
January 2012.
FIIs stood as net buyers in both equity and
debt space to the tune of Rs. 25212 crore
and Rs. 10015.7 crore respectively as
compared to Rs. 10357 crore and Rs.
15971 crore in equity and debt segment
in the month of January. The primary
reason for the increase in FII inflow was
strong manufacturing sector growth which
was highest since May 2011 couple with
growth in the services sector , which stood
at six month high. Moreover increasing
Purchasing Managers index representing
growth in factory production stood at 57.5
as comapred to 54.2 in the previous
month also boosted the sentiments of the
investors. Better than expected WPI
growth of 6.55% for the month of January
as against 7.4 % in the previous month
further increased the confidence of the
overseas investors in Indian markets.
14

Top 30 Equity Schemes with Highest Cash Allocation
Schemes
Tata Growing Economies Infra Fund - Plan A - Gr
Religare Equity Fund - Growth
Edelweiss Absolute Return Fund - Growth
ICICI Prudential Dynamic Plan - Growth
Taurus Nifty Index Fund - Growth
Tata Growing Economies Infra Fund - Plan B - Gr
Union KBC Tax Saver Fund - Growth
Tata Indo-Global Infrastructure Fund - Growth
SBI Mag Sec Funds Umbrella-Emg Buss-Gr
Birla Sun Life Com Eq Fund-Gbl Pre Metals-Ret-Gr
Edelweiss Divrsfied Gr Eq Top 100 Fnd-Plan A-Gr
Sahara Super 20 Fund - Growth
Edelweiss Select Midcap Fund - Growth
Reliance Eq Linked Saving Fund-Series I-Gr
Franklin Build India Fund - Growth
Taurus Bonanza Fund - Growth
Kotak Contra Fund - Growth
Principal Retail Equity Savings Fund
Peerless Equity Fund - Growth
IDFC Premier Eq Fund-Plan A-Growth
HDFC Taxsaver - Growth
Taurus Infrastructure Fund - Growth
IDFC Strategic Sector (50-50) Eq Fund-Plan A-Gr
Reliance Banking Fund - Growth
Taurus Taxshield - Growth
SBI Magnum Bluechip Fund - Growth
Quantum Tax Saving Fund - Growth
Tata Ethical Fund - Growth
Taurus Discovery Fund - Growth
Reliance Infrastructure Fund - Retail - Growth
QAAUM (Rs.
Crs.)
23.47
17.92
37.81
3962.49
1.29
86.27
3.20
663.61
455.79
4.70
16.36
1.22
4.78
129.85
66.41
29.80
57.13
23.44
23.86
2407.02
2880.17
13.58
25.91
1574.35
65.99
692.87
4.40
102.07
22.28
671.24
Equity
11.13
11.66
25.04
3000.39
1.03
69.21
2.74
540.38
383.39
3.99
12.92
1.05
3.93
112.11
58.28
26.16
48.04
20.68
21.13
1902.90
2553.55
12.08
23.19
1413.50
59.40
624.16
3.97
92.01
20.13
606.71
Debt
(Rs. Crs.)
0.00
0.30
2.30
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.97
0.00
0.19
0.00
0.00
0.00
2.16
0.00
0.00
230.13
8.64
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Cash
12.35
5.96
10.47
962.10
0.26
17.05
0.61
123.23
72.38
0.71
2.47
0.17
0.65
17.74
8.12
3.64
6.93
2.76
2.73
273.99
317.97
1.49
2.72
160.84
6.58
68.73
0.43
10.06
2.15
64.52
Cash &
Equivalents (%)
52.60
33.26
27.70
24.28
19.97
19.77
19.03
18.57
15.88
15.21
15.09
14.04
13.71
13.66
12.23
12.21
12.13
11.79
11.44
11.38
11.04
11.01
10.50
10.22
9.98
9.92
9.86
9.86
9.65
9.61
QAAUM as on December 31, 2011
Tata Growing Economies Infrastructure Fund - Plan A -Growth continued to hold the maximum of cash and cash equivalents as a percentage of
QAAUM at 52.60% in the month under review, marginally lower than the prior month. Being primarily focused towards infrastructure and related
sectors, the scheme invests 51% of its net assets in equities of geographies outside India. Further it has been observed that the scheme has
comfortably beaten its benchmark index, BSE Sensex by considerable extent over the 1 year time frame. Followed by it were the Religare Equity
Fund-Growth, Edelweiss Absolute Return Fund - Growth, ICICI Prudential Dynamic Plan - Growth and Taurus Nifty Index Fund - Growth which
constituted cash in their portfolios to the tune of 33.26%, 27.70%, 24.28% and 19.97% respectively.
In terms of value, ICICI Prudential Dynamic Plan - Growth continued to hold cash to the tune of Rs. 962.10 crore, which accounts for 44.54 per
cent of the total cash exposure held by the top 30 schemes. Sahara Super 20 Fund - Growth held the lowest quarterly corpus of Rs.1.22 crore.
Additionally, this particular scheme held the minimum cash to the extent of Rs.0.17 crore. Taurus Taxshield - Growth, SBI Magnum Bluechip
Fund - Growth, Quantum Tax Saving Fund - Growth, Tata Ethical Fund - Growth, Taurus Discovery Fund - Growth and Reliance Infrastructure
Fund - Retail - Growth accounted for the minimum exposure towards in the range of 9%.
15

Dividend History
Schemes
Large Cap Funds
Canara Robeco Equity Diversified - Income
DSP BlackRock Top 100 Equity Fund - Dividend
Fidelity Equity Fund - Dividend
Fidelity India Growth Fund - Dividend
Franklin India Bluechip - Dividend
Franklin India Prima Plus - Dividend
HDFC Top 200 - Dividend
ICICI Prudential Focused Bluechip Equity Fund - Retail - Dividend
ICICI Prudential Top 100 Fund - Dividend
Kotak 50 - Dividend
SBI Magnum Equity Fund - Dividend
Tata Pure Equity Fund - Dividend
UTI Dividend Yield Fund - Dividend
UTI Equity Fund - Dividend
UTI Opportunities Fund - Dividend
Small & Mid Cap Funds
Birla Sun Life Pure Value Fund - Dividend
Birla Sun Life Small & Midcap Fund - Dividend
Canara Robeco Emerging Equities - Dividend
DSP BlackRock Micro Cap Fund - Regular - Dividend
DSP BlackRock Small and Midcap Fund - Dividend
Franklin India Prima Fund - Dividend
HDFC Mid-Cap Opportunities Fund - Dividend
Reliance Long Term Equity Fund - Dividend
Religare Mid Cap Fund - Dividend
SBI Magnum Global Fund 94 - Dividend
SBI Magnum Sector Funds Umbrella - Emerg Buss Fund - Dividend
Sundaram Select Midcap - Dividend
Sundaram SMILE Fund - Dividend
Tata Midcap Fund - Dividend
UTI Mid Cap Fund - Dividend
Multi Cap Funds
Birla Sun Life Dividend Yield Plus - Dividend
Birla Sun Life India GenNext Fund - Dividend
Franklin India Flexi Cap Fund - Dividend
HDFC Capital Builder Fund - Dividend
HDFC Equity Fund - Dividend
HDFC Growth Fund - Dividend
ICICI Prudential Discovery Fund - Dividend
ICICI Prudential Dynamic Plan - Dividend
IDFC Premier Equity Fund - Plan A - Dividend
Mirae Asset India Opportunities Fund - Regular - Dividend
Reliance Equity Opportunities Fund - Dividend
Tata Dividend Yield Fund - Dividend
Taurus Starshare Fund - Dividend
UTI Master Value Fund - Dividend
UTI Wealth Builder Fund - Series II - Dividend
Inception
Date
16-Sep-03
10-Mar-03
16-May-05
23-Oct-07
01-Dec-93
29-Sep-94
11-Sep-96
23-May-08
09-Jul-98
22-Dec-98
01-Jan-91
07-May-98
23-May-05
20-Apr-92
20-Jul-05
1 Yr(%)
3 Yr(%)
5 Yr(%)
Dividends Since
Inception (%)
175.00
298.00
105.00
Nil
542.50
500.00
448.00
7.50
401.00
390.00
334.00
326.00
106.00
107.00
83.00
10.00
Nil
10.00
Nil
30.00
Nil
40.00
Nil
40.00
Nil
Nil
Nil
9.00
Nil
8.00
50.00
32.50
35.00
Nil
110.00
90.00
110.00
7.50
85.00
60.00
85.00
40.00
40.00
10.00
33.00
80.00
132.50
85.00
Nil
210.00
205.00
160.00
7.50
155.00
180.00
135.00
70.00
78.00
10.00
68.00
27-Mar-08
31-May-07
11-Mar-05
02-Aug-10
14-Nov-06
01-Dec-93
25-Jun-07
26-Dec-06
19-Apr-07
30-Sep-94
17-Sep-04
30-Jul-02
15-Feb-05
11-Jul-05
09-Apr-04
Nil
Nil
Nil
Nil
12.50
60.00
15.00
Nil
Nil
50.00
25.00
Nil
10.00
Nil
Nil
10.00
Nil
Nil
Nil
25.00
200.00
15.00
15.00
27.00
100.00
50.00
70.00
60.00
15.00
42.00
10.00
Nil
30.00
Nil
25.00
320.00
15.00
15.00
27.00
150.00
75.00
70.00
120.00
25.00
42.00
10.00
Nil
50.00
Nil
25.00
650.00
15.00
15.00
27.00
251.00
147.00
340.00
160.00
25.00
82.00
26-Feb-03
05-Aug-05
02-Mar-05
01-Feb-94
01-Jan-95
11-Sep-00
16-Aug-04
09-Jan-04
28-Sep-05
04-Apr-08
31-Mar-05
22-Nov-04
10-Dec-08
01-Jun-98
17-Dec-08
11.00
Nil
15.00
Nil
40.00
30.00
15.00
5.00
24.00
Nil
20.00
10.00
Nil
20.00
10.00
53.90
50.00
50.00
67.50
110.00
87.50
52.00
49.00
63.00
24.00
40.00
60.00
130.00
62.50
38.00
71.90
80.00
105.00
102.50
215.00
150.00
96.00
115.00
63.00
24.00
55.00
70.00
130.00
76.50
38.00
231.90
80.00
125.00
302.50
450.00
265.00
161.00
175.00
63.00
24.00
80.00
94.00
130.00
416.50
38.00
16

Dividend History - MIP
Monthly Income Plans
Birla Sun Life MIP - Wealth 25 - Monthly Dividend
Birla Sun Life Monthly Income - Monthly Dividend
Canara Robeco Monthly Income Plan - Monthly Dividend
DSP BlackRock MIP Fund - Monthly Dividend
DWS Twin Advantage Fund - Monthly Dividend
HDFC Monthly Income Plan - Long Term Plan - Monthly Div
HDFC Monthly Income Plan - Short Term Plan - Monthly Div
HSBC MIP - Regular Plan - Monthly Dividend
HSBC MIP - Savings Plan - Monthly Dividend
ICICI Prudential MIP 25 - Monthly Dividend
Kotak Monthly Income Plan - Monthly Dividend
LIC Nomura MF Floater - Monthly Income Plan - Monthly Div
LIC Nomura Monthly Income Plan - Monthly Dividend
Principal Debt Savings Fund - Retail Plan - Monthly Dividend
Reliance Monthly Income Plan - Monthly Dividend
Tata MIP Plus - Monthly Dividend
UTI - MIS - Advantage Fund - Monthly Dividend
UTI Monthly Income Scheme - Dividend
Inception Date
22-May-04
14-Jul-99
01-Apr-88
11-Jun-04
29-Jan-04
26-Dec-03
26-Dec-03
24-Feb-04
24-Feb-04
30-Mar-04
02-Dec-03
29-Oct-04
19-Aug-98
30-Dec-03
12-Jan-04
19-Mar-04
16-Dec-03
12-Sep-02
Total Dividends declared as on 29 February 2012
1 Yr
Missed*
3 Yrs
Missed*
5 Yrs
Missed*
6.05
0
17.88
3
31.74
12
6.61
0
19.57
1
36.27
7
10.57
0
25.48
7
32.48
30
6.60
1
24.49
9
32.94
24
5.02
0
17.12
0
27.28
6
7.20
0
22.20
0
40.70
3
6.00
0
17.00
2
24.80
13
4.18
1
21.82
1
32.68
3
3.30
2
22.60
3
35.48
5
8.65
0
20.19
0
38.33
3
0.93
1
13.09
6
24.51
11
2.20
9
20.54
13
35.16
25
Nil
12
14.64
19
27.87
32
6.69
1
26.60
1
42.19
1
6.91
0
30.79
1
55.42
4
6.26
0
17.55
1
26.64
5
9.16
0
24.42
0
39.13
0
9.16
0
22.81
0
35.17
0
* The column represents the number of dividends missed in the corresponding year.
**Dividend declarations has been considered for a period if the scheme has completely existed during that period. The dividend shown under a period has been summed for that period.
MIP schemes are suited for conservative investors who seek capital protection with marginal exposure to the equity market. Apart from
guaranteed monthly income, these schemes offer liquidity to the investors' portfolio. The MIP schemes declared dividends in the range of 0.93%
to 10.57% over the one-year time frame. Having declared the highest dividend of 10.57%, Canara Robeco Monthly Income Plan - Monthly
Dividend Scheme remained the best dividend paying scheme. The scheme declared the last dividend on February 24, 2012 to the tune of 0.88%.
Despite underperforming its benchmark index, Crisil MIP Blended Index, marginally over one-year time span, it did not miss declaration of any of
the monthly dividends during the said period, offsetting the volatility all around. It was followed by two schemes from UTI Mutual Fund, namely
UTI - MIS - Advantage Fund - Monthly Dividend and UTI Monthly Income Scheme - Dividend, both of which declared dividend of 9.16% during
the period. These two schemes have proved that they are capable of fulfilling their commitment towards safeguarding the investors' interest by
providing them dividends regularly without failing for a single month during the period under consideration.
On the other hand, Kotak Monthly Income Plan - Monthly Dividend declared the lowest quantum of dividends over the timeframe of one, three
and five years. Although the scheme underperformed its index, Crisil MIP Blended Index, over the three and five year period, it managed to
outpace its index during the one-year time span. Reliance Monthly Income Plan - Monthly Dividend declared the maximum quantum of dividends
over the three and five year timeframe. However, it skipped monthly dividends once in three-year period and four times in five-year period. LIC
Nomura Monthly Income Plan - Monthly Dividend could not optimize its earnings properly and therefore ended skipping dividends numerous
times across all the periods under consideration. It underperformed its benchmark in all the timeframe of one, three and five years.
17

Fixed Income Commentary
RBI caught between inflation and slowdown; policy dilemma to continue
The RBI is caught in a Catch-22 situation where they face the danger of economy with faltering growth; on the other hand, the inflation trends are
back in danger zone with crude oil trending high. The latest GDP figure at 6.1 per cent for Q3FY12 suggests that the economy is contracting
given the tight monetary stance and high borrowing costs. This is the lowest GDP growth in three years close to post-Lehman/pre-boom lows. All
major three sectors, viz, agriculture, industry and services slowed down. On the demand side, investment continues to de-grow at (-) 1.2 per cent
though it improved its figure from Q2FY12 de-growth of 4 per cent. The government consumption growth also fell; however, the private
consumption growth held up fairly well, in consonance with the trend seen in the consumer sectors of IIP. Meanwhile, the industrial growth as
measured by Index of Industrial Production (IIP) dips to 1.8 per cent broadly in-line with the market consensus. Among the major sectors, mining
sector contracted which was compensated by the double digit growth in the electricity sector.
Earlier, the headline inflation eased in-line including the manufacturing inflation which also fell near to one-year’s low figure. It eased by 1 per cent
on softening commodity prices and firming INR. The headline inflation touched its two-year low of 6.6 per cent mainly supported by sharp fall in
food prices. The inflation figure came as a comforting number for RBI which has double sided – government and industry pressure to ease policy
rates as high monetary policy rates have started eating into economy health and to some extent, some sectors contracted too. However, the
recent tensions arising out of Iran and other OPEC regions have raised the crude oil prices which may in turn bring in the imported inflation back
to the country. India’s major crude oil requirements are imported and have a major hit on fiscal numbers.
The bond market remained shaky but traded range bound with slight easing towards the month end. During the month, the 10-year benchmark
paper 8.79% G-Sec 2021 closed at 8.20 bps, down by 7 bps. The other highly traded paper, 9.15% G-Sec 2024 closed at 8.29 per cent, down by
11 bps. We expect that bond yields will take cue from the upcoming policy review in mid-Mar.
On the liquidity front, the systematic liquidity remained in deficit mode. From a high deficit of Rs. 1.41 lakh crore in Jan end, it reached its historic
high deficit of Rs. 1.81 lakh crore at the far end of Feb. Though the RBI continued with OMOs and bought back bonds worth Rs. 30,016 crore, it
didn’t help the market. With the advanced tax outflow date nearing, it may worsen the liquidity further. The market expects a CRR cut of 50 bps in
upcoming policy review but it may not help the market much as the cut would make an inflow of Rs. 32,000 crore only. The only option left is SLR
cut which is again in limbo as banks are already sitting at 4-5 per cent of extra NDTL investments in SLR securities. So, the RBI is caught
between inflation and slowdown and the situation warrants an accommodative policy but the policy dilemma is to continue.
18

Key Mutual Fund News
Motilal Oswal Mutual Fund unveils Motilal Oswal MOSt Shares
Gold ETF
Motilal Oswal Mutual Fund has unveiled a new fund namely, Motilal
Oswal MOSt Shares Gold ETF (MOSt Gold Shares), an open ended
exchange traded fund. The new issue will be open for subscription
from 2nd March 2012 and close on 16th March 2012. MOSt Gold
Shares will be listed on the NSE and BSE. The investment objective
of the scheme is to provide return by investing in Gold Bullion. The
performance of the scheme will be benchmarked against Spot Gold
Price and will be managed by Mr. Rajnish Rastogi.
Birla Sun Life Mutual Fund launches Birla Sun Life Gold Fund
Birla Sun Life Mutual Fund has launched a new fund named as Birla
Sun Life Gold Fund, an open ended fund of fund scheme. The new
issue will be open for subscription from 1st March 2012 and close on
15th March 2012. The investment objective of the scheme is to
provide returns that track returns provided by Birla Sun Life Gold ETF
(BSL Gold ETF). Exit load of 2% will be charged if units are redeemed
or switched out within 365 days from the date of allotment. The
performance of the scheme will be benchmarked against domestic
price of physical gold and will be managed by Mr. Satyabrata
Mohanty.
Religare Mutual Fund launches Religare Fixed Maturity Plan –
Series XII – Plan C
Religare Mutual Fund has launched a new fund namely, Religare
Fixed Maturity Plan - Series XII - Plan C (368 Days), a close ended
debt scheme. The face value of the scheme is Rs. 10 per unit. The
new issue will be open for subscription from 1st February and closes
on 2nd February 2012. The investment objective of the scheme is to
generate income by investing in a portfolio of debt and money market
instruments maturing on or before the date of maturity of the scheme.
The performance of the scheme will be benchmarked against CRISIL
Short Term Bond Fund Index and will be managed by Mr. Nitish
Sikand.
Pramerica Mutual Fund launches Pramerica Short Term Floating
Rate Fund
Pramerica Mutual Fund has launched a new fund namely, Pramerica
Short Term Floating Rate Fund, an open ended income scheme. The
new issue will be open for subscription from 7th February and closes
on 9th February 2012. The investment objective of the scheme is to
generate regular income through investment in a portfolio comprising
primarily in short maturity floating rate debt/money market
instruments. No exit load will be charged under the scheme. The
performance of the scheme will be benchmarked against CRISIL
Short Term Bond Fund Index and will be managed by Mr. Mahendra
Jajoo.
Birla Sun Life Mutual Fund launches Birla Sun Life Fixed Term
Plan - Series EI
Birla Sun Life Mutual Fund has launched a new fund namely, Birla
Sun Life Fixed Term Plan - Series EI, a close ended income scheme
with duration of 368 days from the date of allotment. The face value of
the scheme is Rs. 10 per unit. The new issue will be open for
subscription from 7th February and closes on 9th February 2012. The
investment objective of the scheme is to generate income by investing
in a portfolio of fixed income securities maturing on or before the
duration of the scheme. The performance of the scheme will be
benchmarked against CRISIL Short Term Bond Fund Index and will
be managed by Mr. Kaustubh Gupta.
L&T Mutual Fund unveils L&T FMP – V (February366D A)
L&T Mutual Fund has launched a new fund namely, L&T FMP – V
(February366D A), a close ended income scheme. The new issue will
be open for subscription from 9th February 2012 and close on 13th
February 2012. The investment objective of the scheme is to achieve
growth of capital through investments made in a basket of debt / fixed
income securities maturing on or before the maturity of the scheme.
ICICI Prudential Mutual Fund unveils ICICI Prudential Capital
Protection Oriented Fund II-Series VII-24 Months Plan
ICICI Prudential Mutual Fund has launched a new fund namely, ICICI
Prudential Capital Protection Oriented Fund II – Series VII – 24
Months Plan, a close ended capital protection oriented scheme with
duration of 740 days from the date of allotment. The face value of
scheme is Rs.10 per unit. The new issue will be open for subscription
from 14th February 2012 and close on 27th February 2012. The
investment objective of the scheme is to seek to protect capital by
investing a portion of the portfolio in good quality debt securities and
money market instruments and also to provide capital appreciation by
investing the balance in equity and equity related securities. The
performance of the scheme will be benchmarked against CRISIL MIP
Blended Index and will be managed by Mr. Chaitanya Pande (for Debt
portion) and Mr. Rajat Chandak (For Equity portion).
UTI Mutual Fund announces merger of its schemes
UTI Mutual Fund has announced merger of S&P CNX Nifty UTI
Notional Depository Receipt (SUNDER) and UTI-Master Index Fund
with UTI-Nifty Index Fund, effective from 14th March 2012.
Accordingly, all the existing unit holders of S&P CNX Nifty UTI
Notional Depository Receipt (SUNDER) and UTI-Master Index Fund
who are not in agreement with the merger may redeem their units at
the prevailing NAV without payment of any exit load from 13th
February 2012 to 14th March 2012.
Reliance Mutual Fund appoints new fund manager
Reliance Mutual Fund has appointed Mr. Sanjay Parekh as Senior
Fund Manager- Equity Investment of Reliance Capital Asset
Management Limited, with effect from 1st February 2012. He has over
17 years of experience in capital market.
Fidelity Mutual Fund announces change in fund management
responsibilities
Fidelity Mutual fund has announced to change in fund management
responsibilities under certain schemes, effective from 15th February
2012. Accordingly, Mr. Shriram Ramanathan and Mr. Mahesh A.
Chhabria will manage Fidelity Cash Fund, Fidelity Ultra Short Term
Debt Fund, Fidelity Wealth Builder Fund, Fidelity Fixed Maturity Plan
Series V-Plan A, Plan C, Plan E, Plan F and Fidelity Fixed Maturity
Plan Series VI-Plan A - Plan F. Furthermore, Mr. Shriram
Ramanathan and Mr. Vikram Chopra will jointly manage Fidelity Short
Term Income Fund, Fidelity Flexi Bond Fund, Fidelity Flexi Gilt Fund,
Fidelity India Childrens Plan - Education Fund, Marriage Fund and
Savings Fund (investments in debt and money market instruments).
UTI Mutual Fund announces change in fund management
responsibilities
UTI Mutual Fund has announced change in fund management
responsibilities, with immediate effect. Accordingly, Mr. Amandeep S
Chopra, Head - Fixed Income, is designated as the fund manager for
UTI-Bond Fund, UTI-Gilt Advantage Fund, UTI-G Sec Fund, UTI
Short Term Income Fund and UTI Treasury Advantage Fund.
DSP BlackRock Mutual Fund renames DSP BlackRock Floating
Rate Fund
DSP BlackRock Mutual Fund has decided to rename DSP BlackRock
Floating Rate Fund to DSP BlackRock Income Opportunities Fund,
with effect from 12th March 2012. Furthermore, the revised exit load
of 1% will be charged if holding period less than or equal to 9 months
from the date of allotment.
Edelweiss Mutual Fund announces change in benchmark index
Edelweiss Mutual Fund has announced to change in benchmark index
of Edelweiss ELSS Fund, an open ended ELSS scheme, effective
from 1st March 2012. Accordingly, the benchmark index for the
scheme will be S&P CNX 500. The existing benchmark index of the
scheme is S&P CNX Nifty.
19

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Amar Ranu
Vinith Poojari
Research & Product Team
Senior Manager - Third Party Products Research
Manager - Product
amar.ranu@motilaloswal.com
vinith.poojari@motilaloswal.com
Motilal Oswal Securities Limited
91/92, 9th Floor, Bajaj Bhawan, Nariman Point, Mumbai-400021
Board: +91 22 39804200
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