Equity AUM (INR b)
AUM rises by 3.1x against Nifty’s
rise of 1.9x in last 5 years
Nifty Index
7,946
3,646
8,626
4,324
Equity AUM reached a new high; up for the
eighth consecutive month (up 3.6% MoM)
INR4.3t
4,624
1,406
6,304
5,905
1,665
1,584
8,283
2,832
INR87b
Net inflows towards equity in
October highest since August 2015
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Oct-16
Investors are advised to refer to important disclosures made at the last page of the Research Report.
November 2016

Contents
AUM:
Equity AUM up for eighth consecutive month – up 3.6% MoM in October
Flows:
Net inflows in October at INR87b – highest since August 2015
Top 20 funds:
Equity value up 4% MoM and 30% YoY
Sector-wise weight:
MoM increase seen in NBFC, Metals, Oil and Autos
Sectoral allocation of funds:
Capital Goods, Cement, Private Banks over-owned
Nifty-50 snapshot:
MFs net buyers in two-thirds of the stocks
Top schemes and NAV change:
92% of top-25 schemes outperformed market
Volume surprise:
Maximum MoM growth in Tech Mahindra, GAIL and Aurobindo
Funds snapshot:
Overview
About the product
Fund Folio
is a handbook on
the holdings of the top 20
domestic mutual funds in
India. This monthly report will
cover:
Trend in AUMs and flows
Sector allocation by funds
Stock-wise holding change
Top schemes and NAV chg.
Fund-wise snapshot on top
holdings.
Notes:
This report covers only the
top 20 mutual funds by
exposure to equity.
All aggregates pertain only
to the funds listed in this
report.
Sectors are as defined by
MOSL research.
Source: AMFI, NAVIndia
Axis
Birla Sun Life
BNP Paribas
Canara Robeco
DSP BlackRock
Franklin Templeton
HDFC
ICICI Prudential
IDFC
Invesco
Kotak Mahindra
L&T
Mirae Asset
Motilal Oswal
Principal
Reliance
SBI
Sundaram
Tata
UTI
Deven Mistry (Deven@MotilalOswal.com)
Fund Folio: Indian Mutual Fund Tracker | November 2016
2

AUM:
Equity AUM up for eighth consecutive month – up 3.6% MoM in October
Equity AUM rose 3.6% MoM in October, despite flat market indices. While the gross inflows remained steady (INR173b, down 10%
MoM), there was a meaningful decline in redemptions (INR86b, down 46% MoM). This led to the net inflows rising to INR87b in October
2016 v/s INR32b in September 2016. Equity AUM accounts for 3.8% of India’s market capitalization..
income funds (INR562b) and equity funds (INR151b).
Total AUM of the MF industry was up 3.1% MoM to an all-time high of INR16.3t. The MoM rise was primarily due to strong inflows in
In October 2016, domestic MFs accounted for INR91b of inflows into equity markets
–
highest since September 2015.
Trend in equity AUM
4.5
3.5
2.5
1.5
0.5
Trend in total AUM and equity AUM (as % of total)
Equity AUM % to Mktcap - RHS
4.3
4.0
3.5
3.0
2.5
2.0
17
14
11
8
5
9.0
10.1
Equity AUM (INR t)
Total AUM (INR t)
Equity as % to total AUM - RHS
14.2
11.8 12.0
13.2
15.2 16.3
31
27
23
19
15
What drove equity AUM in October (INR b)
173
-86
64
Domestic MFs’ investments in equity market (INR b)
Domestic MFs Investment in equity market (INR b)
92
70 59 70
54
51
43 39 42
42
33
17 9
1
103 105
93
65 7359
45
29
71
91
27 38
6
10
16
4,173
4,324
52
5 4 13
8 16 14 3
25
22 28
39 27
35
40
102
Sep-16
Sales
Redemption Capital Appreciation
Oct-16
Fund Folio: Indian Mutual Fund Tracker | November 2016
3

Flows:
Net inflows in October at INR87b - highest since August 2015
Mutual funds’ net inflows toward equity were INR87b in October 2016, up 167% MoM. Redemptions fell sharply by 46% MoM to
INR86b. Total scheme sales decreased 10% MoM to INR173b.
Trend of sales, redemptions and net amount raised by mutual funds (toward equity)
300
200
100
0
-100
-200
-86
-144
-159
Inflows in Equity (INR b)
Redemptions in Equity (INR b)
Net Inflow/Outflow in Equity (INR b)
205
191
173
87
Redemptions fell to
INR86b, down 46%
MoM
Trend of net inflows by mutual funds (toward equity)
Net Inflow/Outflow in Equity (INR b)
337
490
212
254
68
-1
-162
-141
-87
291
852
Break-up of inflows to mutual funds (toward equity)
Inflow in Existing Scheme (INR b)
Inflow in New Scheme (INR b)
0.0
5.5
1.8
3.1
0.1
1.5
1.6
0.7
0.7
0.4
0.6
4.5
2.6
220
128.1 115.8 122.7
98.8
124.4 131.6 116.8
96.1 109.6 103.1
205.0 187.0
170.0
Fund Folio: Indian Mutual Fund Tracker | November 2016
4

Top 20 funds:
Equity value up 4% MoM and 30% YoY
Total equity corpus of top 20 AMCs grew 4.3% MoM and 30.2% YoY in October 2016, as against the Nifty’s rise of 0.2% MoM and 6.9%
YoY.
Within the top 10 funds by equity value, the highest MoM increase was recorded in DSP BlackRock (+6.1%), ICICI Prudential (+5.6%),
Birla Sun Life (+5%), SBI (+4.8%) and Kotak Mahindra (+4.7%).
Value
(INR b)
Oct-16
773
687
575
514
412
400
378
212
177
165
128
116
111
107
68
57
34
28
23
22
4,988
8,626
Trend of top 20 mutual funds by equity value
MoM Change (%)
Oct-15 Nov-15 Dec-15
1.1
2.1
-0.8
1.6
2.1
0.7
1.3
0.9
0.2
5.3
5.1
7.3
2.6
1.5
0.8
1.5
-0.1
-0.1
2.9
1.8
1.6
2.1
4.0
1.1
2.5
4.2
-1.6
4.0
0.6
3.9
4.3
1.0
2.1
-0.3
2.6
-3.5
1.9
3.3
12.8
2.5
1.6
5.1
-0.1
7.5
4.7
3.9
3.8
5.7
4.5
4.4
2.5
2.8
4.5
5.7
1.8
0.5
0.4
16.1
0.8
-1.9
2.2
2.1
1.3
1.5
-1.6
0.1
Jan-16
-8.6
-2.9
-6.6
2.1
-3.5
-4.9
-3.1
-7.0
-3.5
-2.7
-3.4
-7.1
-6.7
-1.8
-3.7
0.9
-4.5
-4.3
-8.5
-3.8
-4.6
-4.8
Feb-16
-9.9
-7.3
-9.9
-1.2
-6.2
-7.7
-5.4
-9.1
-5.3
-4.5
-7.6
-9.3
-12.8
-7.3
-2.7
-0.5
-10.8
-4.5
-8.7
-8.4
-7.4
-7.6
Mar-16 Apr-16 May-16 June-16 July-16 Aug-16 Sep-16 Oct-16
11.5
3.1
4.3
3.4
5.2
4.6
-0.3
4.3
8.8
2.2
4.1
4.4
4.2
4.0
2.0
5.6
7.9
2.6
2.7
2.5
4.1
2.8
-1.4
3.6
16.1
4.6
8.0
4.2
7.5
5.0
4.4
4.8
9.2
4.8
6.9
3.8
6.7
2.7
2.0
5.0
11.9
2.2
3.8
2.6
4.9
2.0
-1.1
1.5
11.2
4.6
5.1
4.7
3.8
3.5
-0.1
3.8
13.8
2.9
4.2
5.3
7.1
3.8
1.9
6.1
8.1
2.9
9.5
0.9
7.3
8.6
1.4
4.7
12.9
5.9
7.2
2.6
7.4
2.4
0.4
3.6
13.9
0.7
7.3
3.8
6.1
2.7
1.5
4.1
3.7
2.3
2.0
-1.1
7.8
2.0
-0.9
4.6
5.0
2.0
3.1
4.9
7.0
4.5
0.0
6.9
10.0
3.2
3.7
3.7
5.6
1.1
0.6
0.1
9.9
7.6
4.9
5.9
7.9
1.0
5.7
4.4
13.1
7.7
11.9
8.3
9.2
7.1
7.9
12.1
15.8
1.6
1.8
7.1
6.3
3.7
3.2
0.9
15.5
6.1
4.9
5.7
5.5
0.0
-3.9
-0.8
9.4
4.6
5.1
3.9
4.6
4.4
-0.2
2.8
-25.3
4.2
5.5
2.1
3.5
1.2
0.5
2.5
10.4
3.3
4.9
3.6
5.6
3.6
0.9
4.3
10.8
1.4
4.0
1.6
4.2
1.7
-2.0
0.2
12M Chg
(INRb) (%)
121
18
162
31
44
8
247
92
114
38
51
15
99
35
57
37
53
42
52
46
33
35
2
2
26
31
23
27
27
67
32
130
9
34
8
38
3
18
-6
-21
1,156 30
7
Cash
Holding (%)
2.2
8.5
2.6
7.5
4.9
4.4
8.4
3.4
5.9
2.1
3.4
6.7
1.6
4.5
2.0
4.4
3.9
4.3
3.9
5.1
4.5
HDFC Mutual Fund
ICICI Prudential Mutual Fund
Reliance Mutual Fund
SBI Mutual Fund
Birla Sun Life Mutual Fund
UTI Mutual Fund
Franklin Templeton Mutual Fund
DSP BlackRock Mutual Fund
Kotak Mahindra Mutual Fund
AXIS Mutual Fund
L&T Mutual Fund
IDFC Mutual Fund
Sundaram Mutual Fund
Tata Mutual Fund
Motilal Oswal Mutual Fund
Mirae Asset Mutual Fund
Canara Robeco Mutual Fund
BNP Paribas Mutual Fund
PRINCIPAL Mutual Fund
Invesco Mutual Fund
Total of above
Nifty
Note:
Cash is derived by deducting equity AUM from total AUM. Only equity growth schemes have been considered for cash.
Fund Folio: Indian Mutual Fund Tracker | November 2016
5

Sector-wise weight:
MoM increase seen in NBFC, Metals, Oil & Gas and Autos
In October, mutual funds showed interest in NBFCs, Metals, Oil & Gas, Autos and Textiles—these sectors saw an MoM increase in
weight. Technology, Capital Goods, Private Banks, Cement and Utilities saw an MoM decrease in weight.
Private Banks (16.5%) remained the top sector holding in October, followed by Autos (10.9%), Cap Goods (8.4%) and Healthcare (8.1%).
Metals, Textiles, NBFCs, Oil & Gas and Infrastructure saw the maximum positive MoM change in value.
Sector allocation (%):
NBFCs and Metals see highest increase
Oct Weight (%)
Banks Private
Auto
Capital Goods
Healthcare
Technology
NBFC
Consumer
Oil & Gas
Banks Public
Cement
Chemicals
Utilities
Metals
Textiles
Media
Infrastructure
Telecom
Retail
Real Estate
1.8
1.5
1.4
1.3
1.2
0.7
0.4
8.4
8.1
7.5
6.8
6.0
5.9
4.6
4.1
4.1
2.8
0.2
0.1
0.3
Sector value change MoM (%):
Metals, Textiles and NBFCs see rise
Metals
Textiles
0.1
MFs v/s BSE-200 weight (%):
17.4
BSE 200 Weight (%)
Banks Private
Consumer
Auto
Technology
NBFC
Oil & Gas
Healthcare
Capital Goods
Utilities
Cement
Banks Public
Metals
Telecom
Chemicals
Infrastructure
Media
Textiles
Retail
Real Estate
6.0
7.5
6.8
5.9
4.4
3.7
2.8
3.0
4.1
2.8
4.6
2.6
1.8
1.8
1.2
1.3
4.1
1.0
1.3
0.9
1.4
0.7
1.5
0.6
0.7
0.2
0.4
Capital Goods and PSU Banks o/w
MF Weight (%)
16.3
16.5
11.5
11.0
10.9
10.5
9.9
MoM Chg (pp)
16.5
10.9
8.7
8.7
6.2
6.1
5.3
5.1
5.0
4.3
4.3
4.0
3.9
3.8
3.6
2.7
2.6
2.5
2.2
0.5
NBFC
Oil & Gas
Infrastructure
Retail
Auto
Chemicals
Telecom
Healthcare
Consumer
Media
Banks Private
Banks Public
Capital Goods
Cement
Real Estate
Utilities
Technology
-
8.4
-
0.1
7.7
8.1
8.4
-
-
-
-
-
-
-
Fund Folio: Indian Mutual Fund Tracker | November 2016
6

Sectoral allocation of funds:
Capital Goods, Cement, Private Banks over-owned
Top sectors where ownership of mutual funds vis-à-vis BSE-200 is at least 1% higher:
Capital Goods (17 funds over-owned), Cement (12
funds over-owned), Private Banks (7 funds over-owned) and Autos (7 funds over-owned).
Top sectors where ownership of mutual funds vis-à-vis BSE-200 is at least 1% lower:
Consumer (20 funds under-owned), Technology
(18 funds under-owned), Oil & Gas (15 funds under-owned), Utilities (15 funds under-owned) and NBFCs (13 funds under-owned).
Sector-wise allocation of funds v/s BSE-200 (%)
Sector
Auto
Banks PVT
Banks PSU
Cap Goods
Cement
Chemicals
Consumer
Healthcare
Infra
Media
Metals
NBFC
Oil & Gas
Real Estate
Retail
Technology
Telecom
Textiles
Utilities
DSP Franklin
Birla
BNP
Canara
ICICI
Kotak
BSE200 Axis
IDFC Invesco
BlackRoc Templet HDFC
Pru
Sun Life Paribas Robeco
Mah.
on
k
11.0
16.3
2.8
4.4
3.0
1.3
11.5
7.7
1.0
0.9
2.6
9.9
8.4
0.2
0.6
10.5
1.8
0.7
3.7
16.0
17.1
0.8
7.4
0.7
6.3
7.7
10.4
0.9
1.4
0.1
14.9
1.0
0.0
0.2
6.9
0.5
0.9
1.7
11.8
16.6
2.3
7.4
4.5
4.1
8.8
9.2
0.7
2.1
2.0
11.6
5.7
0.3
0.4
5.5
0.6
1.0
2.1
7.6
23.4
1.4
6.9
9.4
3.4
7.0
6.9
1.1
4.0
0.5
9.3
3.1
1.6
1.2
2.8
1.3
1.9
12.9
12.7
2.5
9.0
7.8
7.2
9.1
5.8
1.9
1.2
0.4
4.3
6.3
0.9
0.6
4.0
0.1
3.3
1.2
8.9
15.3
5.2
8.8
4.8
7.9
4.1
7.5
1.8
1.3
2.7
6.6
6.8
0.4
3.9
4.7
0.3
14.5
24.8
3.9
5.9
4.9
2.3
4.7
6.6
1.1
0.9
0.4
2.8
6.0
0.5
1.5
8.0
4.5
1.5
1.8
9.7 9.2 11.0
13.8
18.2
8.1
12.3
2.1 1.4
12.2 5.8 10.2
2.0 3.6
4.3
3.9 3.7 5.0
2.0 5.9 8.5
5.2
10.5
5.9
2.1
1.2 0.6
1.6 0.5 1.6
3.6
1.6 2.9
4.0 6.0 9.9
6.9 4.4 5.2
0.2 0.3 0.8
0.3 0.3 1.0
8.5
11.5
4.1
0.9 2.6 0.6
0.4 0.2
5.0
3.5
7.6
1.7
12.7
15.9
1.0
5.8
2.9
2.1
4.6
7.6
0.4
3.4
1.5
10.6
8.1
0.5
1.0
7.9
0.5
0.1
6.0
11.8
19.8
3.0
5.9
8.2
3.3
7.6
5.1
0.3
1.7
0.8
8.4
10.3
0.6
0.2
5.1
0.5
2.0
1.5
L&T
7.2
14.2
3.7
9.3
10.0
4.3
5.4
6.1
1.6
1.1
3.7
7.4
5.9
0.4
1.0
4.8
0.4
2.7
0.9
Mirae
12.5
18.5
2.6
6.2
3.3
3.5
5.5
8.4
1.9
2.6
3.7
9.9
0.3
5.8
0.6
3.4
0.8
Motilal
Principal Reliance SBI Sundaram TATA UTI
Oswal
14.5
20.8
2.1
1.7
0.5
3.6
9.2
16.0
0.0
0.0
0.0
8.8
10.2
0.0
0.0
0.7
0.0
0.0
0.0
10.2
15.9
4.6
5.2
8.4
3.5
10.2
7.6
1.5
0.8
1.4
5.5
8.2
1.0
0.0
5.8
0.6
1.5
1.4
8.6
15.7
6.4
14.1
2.9
4.5
5.1
8.0
0.8
2.2
2.6
3.8
5.8
0.8
1.6
5.6
0.6
1.9
1.9
10.7
15.2
2.9
6.1
3.8
3.7
8.3
11.1
0.6
1.0
0.6
9.6
6.4
0.1
0.6
8.5
1.0
0.8
3.0
11.5
9.1
2.0
11.5
7.5
7.9
5.7
3.3
1.7
2.8
0.0
10.7
3.9
0.7
0.5
3.1
1.0
5.5
1.1
10.1
13.6
2.2
4.8
7.9
2.8
9.1
9.1
4.8
2.3
0.2
6.1
4.8
0.6
1.4
8.0
0.1
0.9
4.1
14.8
17.4
2.2
6.1
5.5
2.8
8.3
8.2
2.0
0.6
1.4
6.5
6.0
0.1
0.9
9.5
0.2
2.2
0.8
Note:
Green box indicates over ownership by +1% and orange box indicates under ownership by -1% of a sector vis-a-vis BSE200 weight.
Fund Folio: Indian Mutual Fund Tracker | November 2016
7

Nifty-50 snapshot:
MFs net buyers in two-thirds of the stocks
Highest net buying in October 2016 on MoM basis was witnessed in Hindalco (+58%), Tech Mahindra (+25%) and GAIL (+24%).
Number of Funds
Value Oct- Value Chg Shares Oct- Shares Chg
Company
Having Exposure
MoM (%)
16 (INR B) MoM (%)
16 (M)
>2%
<2%
Hindalco
5.4
55.1
35.9
58.2
16
Tech Mahindra
25.4
30.8
58.0
25.3
18
GAIL
20.2
42.9
46.8
23.7
1
17
Aurobindo Pharma
42.1
17.5
51.7
23.4
2
15
Wipro
24.7
16.7
53.2
20.5
1
14
Zee Entertainmen
18.0
7.3
34.8
13.0
20
ACC
11.8
6.5
7.8
12.3
17
Bajaj Auto
14.1
10.7
5.0
10.3
17
HUL
25.9
6.4
30.9
10.1
18
Tata Motors
61.7
9.4
115.5
9.5
2
18
Asian Paints
17.9
0.0
16.7
8.2
2
18
M&M
39.6
1.1
30.2
8.2
18
Bharti Airtel
38.9
9.0
122.0
7.3
3
14
Axis Bank
73.3
-4.5
150.5
6.1
4
14
Tata Steel
37.9
14.3
93.5
5.6
2
16
NTPC
27.9
7.4
184.1
5.1
1
13
HCL Tech.
52.7
0.3
68.8
4.8
2
15
Grasim Inds.
36.7
4.8
38.0
4.6
17
SBI
148.7
7.0
576.8
4.2
10
10
Lupin
28.0
4.9
18.6
3.7
1
18
ITC
74.6
3.5
307.9
3.1
5
15
Kotak Mah. Bank
76.8
8.2
93.7
2.6
8
12
Adani Ports & SEZ
21.8
22.3
71.3
2.5
16
Hero MotoCorp
27.6
0.6
8.2
2.5
2
16
ICICI Bank
182.3
11.9
658.1
1.9
12
8
Eicher Motors
19.6
-1.6
0.8
1.7
1
16
Ambuja Cements
10.3
-2.8
42.9
1.6
16
IndusInd Bank
77.6
1.7
64.8
1.6
10
10
Sun Pharma
72.3
1.9
96.8
1.3
4
16
Reliance Inds.
87.6
-1.6
83.2
1.3
5
15
Dr Reddys Labs.
14.9
8.9
4.5
1.1
15
L&T
123.5
4.2
83.5
1.0
7
13
HDFC Bank
289.0
-0.5
230.1
0.8
19
Company
Bosch
HDFC
Power Grid
Infosys
Coal India
Maruti Suzuki
Yes Bank
Cipla
UltraTech Cement
Bharti Infratel
ONGC
Tata Power
Idea Cellular
Bank of Baroda
TCS
BPCL
BHEL
OW/UW to Nifty(pp)
0.4
Value Oct- Value Chg Shares Oct-16 Shares Chg
(M)
16 (INR B) MoM (%)
MoM (%)
17.2
57.6
40.9
149.0
34.5
104.5
52.9
41.4
35.2
1.9
21.6
6.3
5.6
30.8
42.1
42.7
5.1
-3.7
-0.6
-0.4
-3.7
0.5
6.6
0.3
-2.0
1.4
-6.8
10.1
0.7
-6.7
-10.5
-6.7
3.2
-9.6
0.8
41.7
232.9
149.0
106.1
17.8
41.7
71.7
8.9
5.5
75.0
81.3
72.8
197.3
17.6
63.8
36.4
0.3
0.2
0.2
-0.1
-0.4
-0.8
-0.9
-1.6
-1.7
-1.9
-2.1
-2.9
-3.3
-4.0
-5.4
-5.5
-12.4
Number of Funds
Having Exposure
>2%
<2%
16
4
16
3
17
13
7
17
12
8
3
14
1
18
5
15
14
19
16
15
18
2
17
2
15
14
MFs weight in Nifty (%)
7.6
1.1
4.0
0.8
0.1
0.3
0.2
0.0
29.4
12.8 11.5
7.8
7.0
6.7
5.0
MFs Weight in Nifty (%)
4.6
4.3
3.7
2.3
1.8
1.7
0.9
0.7
Fund Folio: Indian Mutual Fund Tracker | November 2016
8

Top schemes and NAV change:
92% of top-25 schemes outperformed market
Within the top 25 schemes by AUM, the five schemes registering the highest rise are:
DSP BR Micro-Cap Fund (+5.8% MoM change in
Top schemes by AUM
Scheme Name
HDFC Equity Fund - (G)
ICICI Pru Value Discovery Fund (G)
Birla Sun Life Frontline Equity Fund (G)
HDFC Mid-Cap Opportunities Fund (G)
HDFC Top 200 Fund (G)
ICICI Pru Focused Bluechip Equity Fund (G)
AXIS Long Term Equity Fund (G)
Reliance Equity Opportunities Fund (G)
Franklin India Prima Plus - (G)
SBI BlueChip Fund (G)
Franklin India Bluechip Fund - (G)
Kotak Select Focus Fund (G)
IDFC Premier Equity Fund (G)
Reliance Tax Saver (ELSS) Fund - (G)
Reliance Growth Fund - (G)
ICICI Pru Dynamic Plan (G)
HDFC Tax Saver Fund (G)
UTI-Equity Fund (G)
Franklin India High Growth Companies Fund (G)
SBI Magnum Tax Gain Scheme (G)
Franklin India Prima Fund - (G)
UTI-Opportunities Fund (G)
Motilal Oswal Most Focused Multicap 35 Fund (G)
Sundaram Select Midcap - (G)
DSP BR Micro-Cap Fund (G)
Total AUM (INR B)
162
150
144
135
131
119
110
102
95
95
78
67
62
60
59
59
54
53
52
50
48
47
47
45
43
Equity AUM (INR B)
162
138
135
128
130
110
109
101
89
80
70
63
58
60
58
45
53
51
47
49
44
47
46
44
40
MoM NAV Chg (%)
2.6
1.1
1.1
2.0
1.8
1.2
1.9
0.8
1.4
0.8
0.7
1.7
1.7
2.5
2.4
1.7
3.1
0.1
2.4
0.1
2.7
0.4
2.5
4.9
5.8
12M NAV Chg (%)
13.4
10.9
14.2
23.5
13.4
12.3
9.0
1.5
11.6
14.6
9.7
16.5
11.6
14.7
16.9
14.2
13.0
9.0
11.8
8.1
21.0
8.4
18.6
25.3
29.2
NAV), Sundaram Select Midcap (+4.9% MoM change in NAV), HDFC Tax Saver Fund (+3.1% MoM change in NAV), Franklin India Prima
Fund (+2.7% MoM change in NAV) and HDFC Equity Fund (+2.6% MoM change in NAV).
Note:
Equity growth schemes considered for this comparison
Fund Folio: Indian Mutual Fund Tracker | November 2016
9

Volume surprise:
Maximum MoM growth in Tech Mahindra, GAIL and Aurobindo
In October, mutual funds showed interest in stocks such as Tech Mahindra, GAIL, Aurobindo, LIC Housing Finance and Wipro; these
stocks saw an MoM increase in volumes.
Volume shocks were seen in IOCL, Bharat Electronics, BoB, TCS and BPCL, which were sold the most on MoM basis.
Top 10 stocks by change in shares (%)
Company
Tech Mah
GAIL (India)
Aurobindo Pharma
LIC Housing Fin
Wipro
Zee Entert.
ACC
Bajaj Auto
HUL
Tata Motors
Value Oct-16
(INR B)
25.4
20.2
42.1
12.4
24.7
18.0
11.8
14.1
25.9
61.7
Value Chg
MoM (%)
30.8
42.9
17.5
24.6
16.7
7.3
6.5
10.7
6.4
9.4
Value Oct-16
(INR B)
4.49
4.04
1.22
0.31
0.23
0.22
0.19
0.10
0.09
0.06
0.05
0.02
0.01
Shares Oct-16
(M)
58.0
46.8
51.7
21.0
53.2
34.8
7.8
5.0
30.9
115.5
Shares Oct-16
(M)
5.8
6.5
2.8
13.5
0.1
0.3
0.7
0.3
0.6
0.2
0.2
0.1
0.0
Shares Chg
MoM (%)
25.3
23.7
23.4
22.8
20.5
13.0
12.3
10.3
10.1
9.5
Mcap (INR
B)
134.1
82.0
79.2
31.9
19.6
2.7
12.2
6.1
31.0
1.8
51.1
1.6
19.9
Bottom 10 stocks by change in shares (%)
Company
IOCL
Bharat Electronics
BOB
TCS
BPCL
TVS Motor Co
Bajaj Finserv
United Breweries
Crompton Grv Con El.
PNB
Value Oct-16
(INR B)
24.4
25.5
30.8
42.1
42.7
19.1
28.7
11.7
17.2
13.8
Value Chg
MoM (%)
7.9
2.1
-10.5
-6.7
3.2
4.5
4.5
-10.3
10.7
-5.8
Shares Oct-16
(M)
75.3
19.4
197.3
17.6
63.8
47.2
8.4
13.4
93.2
95.8
Shares Chg
MoM (%)
-2.8
-3.1
-4.0
-5.4
-5.5
-5.7
-6.1
-6.9
-7.5
-8.1
Stocks added for the first time in funds’ portfolio
Company
PNB Housing Finance
Endurance Technologies
Varun Beverages
Future Consumer Enterprise
Nilkamal
Rajratan Global Wire
Aban Offshore
Jay Bharat Maruti
Kwality
Amulya Leasing & Finance
Hatsun Agro Product
Valiant Organics
Tide Water Oil Co
Fund Folio: Indian Mutual Fund Tracker | November 2016
10

HDFC
ICICI Prudential
Reliance
SBI
Birla Sun Life
UTI
Franklin Templeton
DSP BlackRock
Kotak Mahindra
Axis
L&T
IDFC
Sundaram
Tata
Motilal Oswal
Mirae Asset
Canara Robeco
BNP Paribas
Principal
Invesco
IN ORDER OF EQUITY AUM, CLICK ON THE FUND NAME FOR DETAILS
FUNDS
SNAPSHOT
Fund Folio: Indian Mutual Fund Tracker | November 2016
11

HDFC:
Equity AUM INR773b
Top company holdings (%)
Oct-16
SBI
ICICI Bk
L&T
Infosys
HDFC Bk
Maruti
Tata Steel
Aurobindo
TTMT-DVR
Reliance Inds
2.8
2.5
2.3
2.1
2.1
Chg MoM (pp)
6.2
0.1
6.2
0.8
0.1
4.6
4.0
3.9
-0.2
-0.2
0.0
0.2
-0.2
-0.1
0.2
ICICI Prudential:
Equity AUM INR687b
Top company holdings (%)
Oct-16
HDFC Bk
ICICI Bk
Infosys
Cipla
Bajaj Finserv
L&T
Bharti Airtel
Wipro
NTPC
Sun Pharma
3.9
3.3
2.9
2.6
2.5
2.4
2.4
2.3
5.3
Chg MoM (pp)
7.7
-0.4
0.0
0.0
-0.2
-0.2
0.1
0.3
0.6
0.1
-0.1
Banks Pvt
Technology
Healthcare
Auto
Utilities
NBFC
Consumer
Cap Goods
Oil & Gas
Chemicals
Weight (%)
Chg MoM (pp)
0.5
13.8
-0.1
12.3
12.2
9.7
8.5
6.9
5.2
4.0
3.9
3.6
-0.1
-0.1
-0.3
0.2
-0.3
0.2
0.1
0.2
Weight (%)
Back to
Snapshot
Chg MoM (pp)
18.2
-0.1
0.6
-0.5
0.2
-0.1
0.1
0.4
0.2
-0.5
-0.1
Top sector allocation (%)
Banks Pvt
Banks PSU
Cap Goods
Auto
Technology
Oil & Gas
Healthcare
NBFC
Chemicals
Metals
Top sector allocation (%)
11.5
10.5
9.2
7.6
6.0
5.9
5.8
4.4
3.7
Top change by market value
Company
ICICI Bk
SBI
Tata Steel
L&T
Reliance Inds
Adani Ports
Cairn India
City Union Bank
Aarti Inds
REC
Mkt Value Shares Chg
Chg (INR b)
('000)
7.61
13,351
2.69
5,736
2.25
2,048
1.88
505
1.85
2,105
1.77
553
1.17
4,286
1.02
6,515
0.93
0
0.84
2,520
Top change in weight (%)
Company
ICICI Bk
Tata Steel
Adani Ports
Reliance Inds
Cairn India
City Union Bk
SBI
Aarti Inds
REC
Dish TV
Chg MoM Current
(pp)
Weight
0.76
6.16
0.20
2.49
0.18
1.29
0.16
2.06
0.14
0.35
0.13
0.18
0.10
6.19
0.10
0.67
0.09
0.64
0.08
0.32
Top change by market value
Company
Wipro
Axis Bk
Bharti Airtel
Tata Motors
HUL
Tech Mahindra
ICICI Bk
L&T
Infosys
ACC
Mkt Value Shares Chg
Chg (INR b)
('000)
4.50
10,471
4.11
9,698
2.97
8,650
2.53
4,796
2.29
3,069
1.93
3,495
1.83
-5,753
1.79
898
1.60
2,414
1.54
1,145
Top change in weight (%)
Company
Wipro
Axis Bk
Tata Motors
Bharti Airtel
HUL
Tech Mahindra
ACC
Britannia Inds
LIC Hsg Fin
Tata Steel
Chg MoM Current
(pp)
Weight
0.56
2.40
0.55
1.51
0.34
0.92
0.31
2.52
0.26
1.61
0.21
1.49
0.19
0.80
0.18
0.54
0.17
0.45
0.16
0.41
Top scheme by NAV change
Scheme Name
HDFC Infrastructure Fund (G)
HDFC Tax Saver Fund (G)
HDFC Small Cap Fund (G)
HDFC Long Term Advantage Fund (G)
HDFC Growth Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
13.0
13.0
3.7
54.0
53.1
3.1
9.7
9.0
2.9
12.8
12.4
2.8
10.4
10.0
2.7
Top scheme by NAV change
Scheme Name
ICICI Pru MidCap Fund (G)
ICICI Pru Banking & Financial Services (G)
ICICI Pru Value Fund - Series 5 - Regular (G)
ICICI Pru Long Term Equity Fund - (G)
ICICI Pru Multicap Fund - (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
11.9
11.4
3.9
11.9
10.8
3.0
4.4
4.2
3.0
37.4
36.8
2.5
17.8
16.9
2.0
Fund Folio: Indian Mutual Fund Tracker | November 2016
12

Reliance:
Equity AUM INR575b
Top company holdings (%)
Oct-16
HDFC Bk
SBI
ICICI Bk
L&T
Infosys
Axis Bk
Divis Lab
HCL Tech
ITC
TVS Motor
2.3
2.0
1.9
1.7
1.6
2.5
3.8
3.2
Chg MoM (pp)
5.9
-0.4
5.0
0.0
0.1
-0.2
-0.1
-0.4
-0.1
-0.1
0.0
0.1
SBI:
Equity AUM INR514b
Top company holdings (%)
Oct-16
HDFC Bk
Infosys
Kotak Mah Bk
Reliance Inds
SBI
HDFC
ITC
Aurobindo
Sun Pharma
L&T
Chg MoM (pp)
6.8
-0.4
3.8
-0.3
0.0
2.8
-0.2
2.7
0.3
2.7
-0.1
0.0
0.6
0.1
0.1
Chg MoM (pp)
15.7
-0.4
14.1
8.6
8.0
6.4
5.8
5.6
5.1
4.5
3.8
-0.5
0.2
-0.2
0.1
0.6
-0.5
-0.1
0.0
0.2
Weight (%)
Banks Pvt
Healthcare
Auto
NBFC
Technology
Consumer
Oil & Gas
Cap Goods
Cement
Chemicals
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Banks Pvt
Cap Goods
Auto
Healthcare
Banks PSU
Oil & Gas
Technology
Consumer
Chemicals
NBFC
Top sector allocation (%)
Chg MoM (pp)
15.2
-0.2
0.6
11.1
10.7
9.6
8.5
8.3
6.4
6.1
3.8
3.7
-0.1
0.3
-0.3
-0.1
-0.2
0.0
0.0
0.0
2.5
2.3
2.0
2.0
2.0
Top change by market value
Company
M&M
Grasim Inds
Reliance Inds
GAIL
ICICI Bk
NCC
Kotak Mah Bk
SBI
TVS Motor
IOCL
Mkt Value Shares Chg
Chg (INR b)
('000)
1.61
1,287
1.52
1,578
1.36
1,476
1.30
1,739
1.30
-2,592
1.27
13,116
1.11
1,147
1.09
1,349
0.82
-225
0.77
-199
Top change in weight (%)
Company
M&
Grasim Inds
NCC
GAIL
Reliance Inds
Kotak Mah Bk
RBL Bank
Birla Corp.
ICICI Bk
Federal Bk
Chg MoM Current
(pp)
Weight
0.27
0.47
0.26
0.37
0.22
0.27
0.20
0.84
0.19
1.54
0.17
0.74
0.12
0.25
0.11
0.59
0.10
3.80
0.09
1.00
Top change by market value
Company
Aurobindo
GRUH Finance
SBI
ICICI Bk
L&T
HCL Tech
Kotak Mah Bk
Nestle India
Adani Ports
Sun Pharma
Mkt Value Shares Chg
Chg (INR b)
('000)
3.35
4,467
2.05
6,064
1.88
6,078
1.21
1,249
1.12
578
0.88
1,396
0.87
176
0.79
94
0.74
-209
0.74
893
Top change in weight (%)
Company
Aurobindo
GRUH Finance
SBI
ICICI Bk
Nestle India
L&T
HCL Tech
Adani Ports
Sundaram Clayton
Strides Shasun
Chg MoM Current
Weight
(pp)
0.58
2.02
0.39
0.55
0.25
2.72
0.15
1.95
0.14
0.51
0.13
1.96
0.12
1.11
0.10
0.97
0.10
0.46
0.09
0.82
Top scheme by NAV change
Scheme Name
Reliance Small Cap Fund (G)
Reliance Capital Builder Fund - Series A (G)
Reliance Diversified Power Sector (G)
Reliance Mid & Small Cap Fund (G)
Reliance Tax Saver (ELSS) Fund - (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
27.3
26.2
8.0
2.7
2.7
4.7
15.8
15.3
4.5
25.5
25.0
4.3
60.3
60.0
2.5
Top scheme by NAV change
Scheme Name
SBI Small & Midcap Fund (G)
SBI PSU Fund (G)
SBI Magnum Comma Fund (G)
SBI Infrastructure Fund (G)
SBI Banking & Financial Services Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
8.5
8.1
6.1
1.8
1.7
5.4
2.4
2.3
5.0
5.4
5.1
3.9
3.1
3.1
3.2
Fund Folio: Indian Mutual Fund Tracker | November 2016
13

Birla Sun Life:
Equity AUM INR412b
Top company holdings (%)
Oct-16
HDFC Bk
Tata Motors
Maruti
ICICI Bk
Kotak Mah Bk
Infosys
IndusInd Bk
Reliance Inds
ITC
Yes Bk
2.8
2.7
2.6
2.5
2.3
2.0
1.9
1.9
1.9
Chg MoM (pp)
4.9
-0.2
0.5
0.0
0.1
0.0
-0.2
0.0
-0.3
0.0
0.0
Banks Pvt
Auto
NBFC
Healthcare
Consumer
Cap Goods
Oil & Gas
Technology
Cement
Chemicals
5.7
5.5
4.5
4.1
8.8
7.4
UTI:
Equity AUM INR400b
Top company holdings (%)
Oct-16
HDFC Bk
Infosys
ICICI Bk
IndusInd Bk
Maruti Suzuki
ITC
Axis Bk
Sun Pharma
Shree Cem.
Reliance Inds
2.9
2.7
2.4
2.4
2.3
2.2
2.1
4.1
3.2
Chg MoM (pp)
5.7
-0.1
-0.2
0.3
0.0
0.1
0.1
-0.4
0.0
-0.1
0.0
Banks Pvt
Auto
Technology
Consumer
Healthcare
NBFC
Cap Goods
Oil & Gas
Cement
Chemicals
-0.2
0.5
0.7
0.8
-0.4
-0.4
-0.1
-0.4
-0.3
-0.2
Chg MoM (pp)
16.6
11.8
11.6
Weight (%)
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Top sector allocation (%)
Chg MoM (pp)
17.4
-3.4
-2.9
14.8
-2.1
-1.5
-1.8
-1.0
-1.3
-0.7
-1.2
-0.5
9.2
9.5
8.3
8.2
6.5
6.1
6.0
5.5
2.8
Top change by market value
Company
Tata Motors
Aurobindo
Glenmark Pharma
Vedanta
L&T Finance
Dr Reddys Lab
ICICI Bk
Crompton Gr. Con
Shriram City Uni
Sun Pharma
Mkt Value Shares Chg
Chg (INR b)
('000)
2.69
5,138
2.07
2,740
1.43
1,513
1.34
5,195
1.27
10,405
0.85
225
0.82
-646
0.75
1
0.71
0
0.69
868
Top change in weight (%)
Company
Tata Motors
Aurobindo
Glenmark Pharma
Vedanta
L&T Finance
Dr Reddys Labo
Tech Mahindra
Crompton Gr. Con
Shriram City Uni
Sundaram Clayton
Chg MoM Current
(pp)
Weight
0.54
2.79
0.45
1.45
0.33
0.63
0.30
0.71
0.30
0.51
0.19
0.56
0.15
0.55
0.14
1.08
0.13
0.95
0.13
0.63
Top change by market value
Company
ICICI Bk
Maruti
Adani Ports
GAIL
Kotak Mah Bk
ITC
IOCL
NCC
L&T
ICICI Pru. Life
Mkt Value Shares Chg
Chg (INR b)
('000)
1.29
620
0.73
1
0.58
471
0.49
626
0.48
358
0.39
1,347
0.33
278
0.31
104
0.30
63
0.30
981
Top change in weight (%)
Company
Endurance Tech
PNB Housing
Tata Steel
Bajaj Finance
HCL Tech
DCB Bk
Reliance Capital
India Cements
JSPL
Sintex Inds
Chg MoM Current
(pp)
Weight
0.07
0.07
0.05
0.05
0.04
0.06
0.03
0.13
0.02
0.09
0.01
0.01
0.01
0.03
0.01
0.01
0.01
0.01
0.00
0.01
Top scheme by NAV change
Scheme Name
Birla Sun Life Dividend Yield Plus (G)
Birla Sun Life Banking & Financial Services (G)
Birla Sun Life Midcap Fund - (G)
Birla Sun Life Equity Fund (G)
Birla Sun Life Pure Value Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
10.7
10.4
2.8
8.2
7.9
2.4
19.0
17.5
2.4
31.7
29.8
2.0
6.8
6.5
2.0
Top scheme by NAV change
Scheme Name
UTI-Banking Sector Fund (G)
UTI-Mid Cap Fund (G)
UTI-Infrastructure Fund (G)
UTI-Long Term Advantage Fund - Sr.III (G)
UTI-Dividend Yield Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
4.7
4.5
2.2
37.4
35.1
2.1
15.1
14.9
2.0
2.9
2.8
1.8
27.1
26.5
1.7
Fund Folio: Indian Mutual Fund Tracker | November 2016
14

Franklin:
Equity AUM INR378b
Top company holdings (%)
Oct-16
HDFC Bk
ICICI Bk
Bharti Airtel
Yes Bk
SBI
IndusInd Bk
Infosys
Axis Bk
L&T
Kotak Mah Bk
Chg MoM (pp)
7.5
-0.3
0.2
4.3
0.0
3.3
-0.1
0.0
-0.1
-0.2
-0.3
0.0
0.0
DSP
BlackRock:
Equity AUM INR212b
Top company holdings (%)
Oct-16
HDFC Bk
SBI
Maruti
IndusInd Bk
ICICI Bk
Yes Bk
L&T
UltraTech
BPCL
SRF
2.1
2.1
2.0
2.0
1.9
1.9
Chg MoM (pp)
4.7
-0.5
0.1
4.3
3.1
2.9
0.0
-0.2
1.2
-0.2
0.2
-0.1
0.1
-0.1
Chg MoM (pp)
Weight (%)
Banks Pvt
Auto
Cap Goods
Chemicals
Healthcare
Oil & Gas
NBFC
Banks PSU
Cement
Textiles
8.8
7.9
7.5
6.8
6.6
5.2
4.8
4.7
24.8
-0.4
-0.2
14.5
-0.1
8.0
0.2
6.6
6.0
5.9
4.9
4.7
4.5
3.9
0.1
0.1
-0.3
0.1
0.0
-0.1
8.9
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Banks Pvt
Auto
Technology
Healthcare
Oil & Gas
Cap Goods
Cement
Consumer
Telecom
Banks PSU
Top sector allocation (%)
Chg MoM (pp)
0.2
15.3
-0.2
0.1
0.6
-0.4
-0.1
0.2
0.2
-0.2
0.0
3.2
3.1
2.8
2.8
2.8
2.2
2.1
Top change by market value
Mkt Value Shares Chg
Chg (INR b)
('000)
ICICI Bk
1.44
-4
Tech Mahindra
1.24
2,619
HUL
0.95
1,174
Dr Reddys Lab
0.88
114
Aditya Birla Fashion
0.83
1,400
Power Grid
0.79
4,554
Arvind
0.77
598
BPCL
0.67
39
Ashoka Buildcon
0.58
3,623
Bharti Airtel
0.57
1,224
Company
Top change in weight (%)
Chg MoM Current
(pp)
Weight
Tech Mahindra
0.30
1.00
HUL
0.24
0.51
ICICI Bk
0.23
4.26
Power Grid
0.19
0.65
Aditya Birla Fashion
0.18
1.21
Arvind
0.18
0.81
Dr Reddys Lab
0.17
1.82
Ashoka Buildcon
0.15
0.18
Info Edge
0.13
0.15
Bajaj Auto
0.12
0.75
Company
Top change by market value
Company
ICICI Bk
SBI
NCC
L&T
HDFC
Whirlpool
Sanghvi Movers
Maruti
BPCL
Advanced Enzyme
Mkt Value Shares Chg
Chg (INR b)
('000)
2.60
8,719
0.80
2,315
0.74
7,309
0.69
396
0.55
405
0.52
456
0.50
1,812
0.46
0
0.43
125
0.39
-33
Top change in weight (%)
Company
ICICI Bk
NCC
Whirlpool
Sanghvi Movers
HDFC
L&T
Tata Steel
Advanced Enzyme
SBI
PNB Housing
Chg MoM Current
(pp)
Weight
1.17
2.12
0.33
0.56
0.25
0.25
0.24
0.24
0.23
0.75
0.22
2.05
0.15
0.37
0.14
0.85
0.14
4.25
0.14
0.14
Top scheme by NAV change
Scheme Name
Templeton India Growth Fund - (G)
Franklin Build India Fund (G)
Franklin India Smaller Companies Fund (G)
Franklin India Prima Fund - (G)
Franklin India High Growth Companies Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
5.4
5.1
4.4
7.0
6.5
2.7
41.1
36.9
2.7
47.5
43.7
2.7
51.8
47.2
2.4
Top scheme by NAV change
Scheme Name
DSP BR Micro-Cap Fund (G)
DSP BR 3 Years Close Ended Equity Fund (G)
DSP BR Small And Mid Cap Fund (G)
DSP BR India T.I.G.E.R. Fund (G)
DSP BR Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
42.6
39.7
5.8
8.8
8.7
4.9
25.6
24.3
4.3
14.4
14.2
3.3
23.6
23.2
2.3
Fund Folio: Indian Mutual Fund Tracker | November 2016
15

Kotak Mahindra
:
Equity AUM INR177b
Top company holdings (%)
Oct-16
HDFC Bk
ICICI Bk
Reliance Ind
IndusInd Bk
Axis Bk
Infosys
ITC
Hero Moto
UltraTech
Maruti
3.5
3.4
3.0
2.8
2.7
2.6
2.6
2.2
2.2
Chg MoM (pp)
7.4
-0.1
-0.2
-0.2
-0.1
-0.7
-0.2
-0.3
0.2
-0.1
0.3
Banks Pvt
Auto
Oil & Gas
NBFC
Cement
Consumer
Cap Goods
Healthcare
Technology
Chemicals
Axis:
Equity AUM INR165b
Top company holdings (%)
Oct-16
HDFC Bk
Kotak Mah Bk
HDFC
Maruti
Sun Pharma
Motherson S
L&T
Pidilite Inds
TCS
Bajaj Finance
3.5
3.3
2.7
2.7
3.8
5.3
5.2
4.8
Chg MoM (pp)
7.5
-0.2
7.4
0.5
-0.6
0.4
0.2
0.2
-0.4
0.1
-0.7
0.1
Banks Pvt
Auto
NBFC
Healthcare
Consumer
Cap Goods
Technology
Chemicals
Utilities
Media
Weight (%)
Back to
Snapshot
Chg MoM (pp)
Top sector allocation (%)
Weight (%)
Chg MoM (pp)
19.8
-1.0
0.6
11.8
1.2
0.5
-0.3
-0.4
0.3
-0.2
-0.6
0.0
Top sector allocation (%)
17.1
0.1
16.0
1.1
14.9
0.2
0.1
10.4
0.7
7.7
-0.5
7.4
0.1
6.9
-0.5
6.3
-0.1
-0.3
10.3
8.4
8.2
7.6
5.9
5.1
5.1
3.3
1.7
1.4
Top change by market value
Company
GAIL
Zee Ent.
Maruti
Hero Moto
Petronet LNG
HDFC Bk
IGL
Eicher Motors
Arvind
Asian Paints
Mkt Value Shares Chg
Chg (INR b)
('000)
1.04
2,325
0.93
1,840
0.72
80
0.62
206
0.59
964
0.44
503
0.39
204
0.36
15
0.34
10
0.33
348
Top change in weight (%)
Company
GAIL
Zee Ent.
Maruti
Petronet LNG
Hero Moto
Eicher Motors
Asian Paints
IGL
Arvind
Reliance Capital
Chg MoM Current
(pp)
Weight
0.58
0.71
0.52
0.75
0.32
2.19
0.29
1.37
0.25
2.59
0.20
0.25
0.17
0.55
0.16
1.42
0.16
1.02
0.15
0.32
Top change by market value
Company
Endurance Tech
Tech Mahindra
Kotak Mah Bk
Maruti
SBI
Bajaj Finserv
Symphony
Sun Pharma
Cadila Health
Motherson S
Mkt Value Shares Chg
Chg (INR b)
('000)
1.45
2,345
1.43
3,258
1.17
684
0.93
58
0.84
3,273
0.60
163
0.59
271
0.53
635
0.51
387
0.49
713
Top change in weight (%)
Company
Endurance Tech
Tech Mahindra
SBI
Kotak Mah Bk
Maruti
Bajaj Finserv
Symphony
Chola. Invest
Cadila Health
TTK Prestige
Chg MoM Current
(pp)
Weight
0.88
0.88
0.87
0.89
0.51
0.51
0.47
7.39
0.39
5.21
0.36
0.61
0.31
1.56
0.26
1.58
0.24
0.94
0.21
2.22
Top scheme by NAV change
Scheme Name
Kotak Emerging Equity Fund (G)
Kotak Midcap (G)
Kotak Tax Saver (G)
Kotak Opportunities (G)
Kotak Select Focus Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
12.4
11.6
3.6
5.0
4.8
3.1
5.3
5.2
2.5
9.6
8.9
1.9
67.0
62.6
1.7
Top scheme by NAV change
Scheme Name
AXIS Small Cap Fund (G)
AXIS Focused 25 Fund (G)
AXIS Long Term Equity Fund (G)
AXIS Midcap Fund (G)
AXIS Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
3.7
3.5
3.6
7.4
6.8
2.2
110.0
108.8
1.9
12.6
12.1
1.4
21.1
20.3
-0.1
Fund Folio: Indian Mutual Fund Tracker | November 2016
16

L&T:
Equity AUM INR128b
Top company holdings (%)
Oct-16
HDFC Bk
ICICI Bk
L&T
ITC
Infosys
SBI
HPCL
Ramco Cem.
IndusInd Bk
Federal Bk
2.7
2.6
2.4
2.2
2.1
1.7
1.7
1.7
Chg MoM (pp)
4.2
3.6
-0.2
0.2
0.1
-0.2
0.0
0.1
0.3
0.0
-0.1
0.4
Banks Pvt
Cement
Cap Goods
NBFC
Auto
Healthcare
Oil & Gas
Consumer
Technology
Chemicals
IDFC:
Equity AUM INR116b
Top company holdings (%)
Oct-16
HDFC Bk
Maruti
Bharat Fin.
Asian Paints
Voltas
MCX
Vardhman Tex
GSPL
Sun Pharma
Fag Bearings
1.9
1.9
1.9
1.9
1.7
14.2
10.0
9.3
7.4
7.2
6.1
5.9
5.4
4.8
4.3
0.0
0.0
-0.4
0.4
-0.4
0.0
0.8
-1.2
-0.2
0.2
Chg MoM (pp)
3.3
-0.2
0.1
3.0
2.7
2.5
2.4
0.1
-0.2
-0.1
-0.2
0.0
-0.1
0.0
-0.1
Weight (%)
Chg MoM (pp)
Weight (%)
Auto
Cap Goods
NBFC
Consumer
Banks Pvt
Healthcare
Oil & Gas
Chemicals
Textiles
Cement
5.9
5.2
5.0
5.0
4.3
Back to
Snapshot
Top sector allocation (%)
Top sector allocation (%)
Chg MoM (pp)
11.0
10.2
9.9
8.5
8.1
0.6
-0.4
1.0
-0.4
-0.9
-0.6
0.5
0.1
0.1
-0.2
Top change by market value
Company
GAIL
Federal Bk
Endurance Tech
HPCL
NMDC
Birla Corp.
ICICI Bk
PNC Infratech
IOCL
SBI
Mkt Value Shares Chg
Chg (INR b)
('000)
0.52
1,191
0.52
3,606
0.50
794
0.43
435
0.40
2,888
0.38
420
0.36
-181
0.31
2,483
0.28
646
0.25
717
Top change in weight (%)
Company
GAIL
Endurance Tech
Federal Bk
NMDC
Birla Corp.
HPCL
PNC Infratech
IOCL
Dishman Pharma
Nilkamal
Chg MoM Current
Weight
(pp)
0.41
0.43
0.39
0.39
0.35
1.65
0.31
0.40
0.28
0.67
0.27
2.13
0.23
0.45
0.20
0.75
0.16
0.84
0.16
0.16
Top change by market value
Company
JSW Steel
JM Financial
Hero MotoCorp
Zee Ent.
Tata Chemicals
RBL Bank
PNB
MMFS
Reliance Inds
Maruti
Mkt Value Shares Chg
Chg (INR b)
('000)
0.61
379
0.48
-18
0.33
101
0.33
725
0.29
462
0.27
572
0.27
1,875
0.27
744
0.27
283
0.26
2
Top change in weight (%)
Company
JSW Steel
JM Financial
Hero Moto
Zee Ent.
PNB
MMFS
RBL Bank
Tata Elxsi
Tata Chemicals
Skipper
Chg MoM Current
Weight
(pp)
0.52
0.81
0.36
1.59
0.28
0.53
0.25
1.06
0.23
0.23
0.23
0.24
0.23
0.36
0.22
0.24
0.20
1.40
0.19
0.19
Top scheme by NAV change
Scheme Name
L&T Emerging Businesses Fund (G)
L&T India Value Fund (G)
L&T Midcap Fund (G)
L&T India Special Situations Fund (G)
L&T Tax Advantage Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
3.8
3.4
4.4
20.6
19.3
4.3
5.3
5.1
4.2
9.5
9.4
2.5
18.5
18.0
2.4
Top scheme by NAV change
Scheme Name
IDFC Infrastructure Fund (G)
IDFC Sterling Equity Fund (G)
IDFC Tax Advantage (ELSS) Fund (G)
IDFC Classic Equity Fund (G)
IDFC Premier Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
1.4
1.4
6.3
13.3
12.9
4.2
4.9
4.6
2.4
4.1
3.5
2.3
62.4
57.7
1.7
Fund Folio: Indian Mutual Fund Tracker | November 2016
17

Sundaram:
Equity AUM INR111b
Top company holdings (%)
Oct-16
Ramco Cem
SRF
Bajaj Finserv
HDFC Bk
Fag Bearings
IGL
Arvind
UPL
PNB Hsg Fin.
Ujjivan Fin.
Chg MoM (pp)
2.5
0.0
2.1
-0.1
0.1
2.0
2.0
1.8
1.8
1.8
1.7
1.5
1.4
-0.2
0.0
-0.1
0.4
-0.2
1.5
0.2
Cap Goods
Auto
NBFC
Banks Pvt
Chemicals
Cement
Consumer
Textiles
Oil & Gas
Healthcare
Tata:
Equity AUM INR107b
Top company holdings (%)
Oct-16
HDFC Bk
Power Grid
Infosys
HCL Tech
Yes Bk
Glenmark Ph.
UltraTech
Reliance Inds
ICICI Bk
Shree Cem.
3.0
2.8
2.6
2.6
2.3
2.1
1.9
1.9
1.9
Chg MoM (pp)
5.0
-0.1
0.0
-0.1
-0.1
0.2
0.2
0.1
-0.1
0.2
0.0
Banks Pvt
Auto
Healthcare
Consumer
Technology
Cement
NBFC
Oil & Gas
Cap Goods
Infra
11.5
11.5
10.7
9.1
7.9
7.5
5.7
5.5
3.9
3.3
-0.5
0.4
1.6
-1.2
-0.2
0.0
1.0
0.3
-0.1
0.0
Chg MoM (pp)
Weight (%)
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Top sector allocation (%)
Chg MoM (pp)
-0.2
0.5
0.4
-0.3
-0.6
0.5
-0.1
-0.5
0.0
0.3
13.6
10.1
9.1
9.1
8.0
7.9
6.1
4.8
4.8
4.8
Top change by market value
Company
PNB Hsg Fin.
Varun Beverages
LIC Hsg Fin.
Arvind
Sundaram Clayton
Shriram City
Ujjivan Fin.
Ashok Leyland
Bajaj Finserv
Federal Bk
Mkt Value Shares Chg
Chg (INR b)
('000)
1.65
2,130
1.22
2,753
0.62
1,054
0.58
615
0.38
-2
0.34
104
0.27
640
0.23
1,733
0.22
-3
0.19
200
Top change in weight (%)
Chg MoM Current
Weight
(pp)
PNB Hsg Fin.
1.48
1.48
Varun Beverages
1.10
1.10
LIC Hsg Fin.
0.55
0.65
Arvind
0.43
1.75
Shriram City
0.29
0.61
Sundaram Clayton
0.26
1.40
Ashok Leyland
0.17
0.62
Ujjivan Fin.
0.17
1.40
Endurance Tech
0.12
0.12
Mahindra Holidays
0.11
0.35
Company
Top change by market value
Company
Ashok Leyland
Dalmia Bharat
Aurobindo
BOB
Future Consumer
Yes Bk
ICICI Bk
ITC
Engineers India
SBI
Mkt Value Shares Chg
Chg (INR b)
('000)
0.54
6,000
0.49
238
0.49
600
0.31
2,000
0.31
13,495
0.24
164
0.23
170
0.22
896
0.22
655
0.21
640
Top change in weight (%)
Company
Ashok Leyland
Dalmia Bharat
Aurobindo
BOB
Future Consumer
Yes Bk
ICICI Bk
ITC
Engineers India
SBI
Chg MoM Current
(pp)
Weight
0.51
0.51
0.46
0.46
0.45
0.49
0.29
0.29
0.29
0.29
0.23
2.60
0.21
1.95
0.21
1.86
0.20
0.61
0.20
1.80
Top scheme by NAV change
Scheme Name
Sundaram S.M.I.L.E Fund (G)
Sundaram Select Midcap - (G)
Sundaram Equity Multiplier Fund (G)
Sundaram Rural India Fund (G)
Sundaram Infrastructure Advantage Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
11.8
11.7
6.6
44.8
44.3
4.9
2.7
2.6
4.1
5.5
5.2
4.0
6.0
6.0
2.7
Top scheme by NAV change
Scheme Name
Tata Equity P/E Fund - (G)
Tata Mid Cap Growth Fund - (G)
Tata Dividend Yield Fund (G)
Tata Equity Opportunities Fund - Regular (G)
Tata Infrastructure Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
6.8
6.5
3.0
5.8
5.6
2.1
3.1
3.0
1.4
12.8
12.3
0.8
6.6
6.2
0.5
Fund Folio: Indian Mutual Fund Tracker | November 2016
18

Motilal Oswal:
Equity AUM INR68b
Top company holdings (%)
Oct-16
HDFC Bk
IndusInd Bk
RBL Bk
Max Financial
HPCL
Eicher Motors
BPCL
Maruti
Ajanta Pharma
Interglobe Avi.
5.9
5.5
5.2
4.8
4.8
4.8
4.7
4.5
Chg MoM (pp)
7.3
-0.2
7.0
0.1
3.1
0.0
0.0
-0.9
0.3
0.0
-0.3
-0.2
Banks Pvt
Healthcare
Auto
Oil & Gas
Consumer
NBFC
Chemicals
Banks PSU
Cap Goods
Technology
3.6
2.1
1.7
0.7
9.2
8.8
Mirae Asset:
Equity AUM INR57b
Top company holdings (%)
Oct-16
ICICI Bk
HPCL
IndusInd Bk
HDFC Bk
Kotak Mah Bk
SBI
Tata Steel
Federal Bk
GAIL
Voltas
2.6
2.6
2.3
2.3
2.3
Chg MoM (pp)
4.9
0.5
0.0
3.9
3.8
3.7
3.4
-0.2
-0.4
0.5
0.3
0.5
0.1
1.3
0.1
Chg MoM (pp)
20.8
3.0
3.8
16.0
-0.6
14.5
0.3
-1.4
0.1
1.6
0.0
-0.1
-5.6
Weight (%)
Banks Pvt
Auto
Oil & Gas
Healthcare
Cap Goods
Technology
Consumer
NBFC
Chemicals
Textiles
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Top sector allocation (%)
Chg MoM (pp)
18.5
0.4
-0.9
12.5
0.7
9.9
-1.4
8.4
-0.3
6.2
-0.7
5.8
-0.4
5.5
3.7
3.5
3.4
0.1
0.4
0.4
10.2
Top change by market value
Company
Jubilant Life Sci.
RBL Bk
Advanced Enzyme
Bajaj Finance
Force Motors
BPCL
IndusInd Bk
Max Financial
HPCL
Maruti
Mkt Value Shares Chg
Chg (INR b)
('000)
3.04
4,419
2.17
3,921
1.10
331
0.41
351
0.40
86
0.31
53
0.26
222
0.16
190
0.15
-418
0.12
-20
Top change in weight (%)
Company
Jubilant Life Sci.
RBL Bk
Advanced Enzyme
Force Motors
Bajaj Finance
BPCL
PNB Hsg Fin.
IndusInd Bk
Can Fin Homes
Timken India
Chg MoM Current
Weight
(pp)
4.46
4.46
3.06
5.91
1.54
3.23
0.59
0.59
0.51
2.58
0.26
4.78
0.15
0.15
0.09
7.00
0.08
0.20
0.03
0.46
Top change by market value
Company
GAIL
Cera Sanitaryware
ICICI Bk
Kaveri Seed
Kotak Mah Bk
Tata Steel
SBI
Tata Chemicals
Grasim Inds
Raymond
Mkt Value Shares Chg
Chg (INR b)
('000)
0.81
1,690
0.56
216
0.56
1,235
0.48
1,019
0.45
453
0.43
855
0.33
1,170
0.30
500
0.30
309
0.26
305
Top change in weight (%)
Company
GAIL
Cera Sanitaryware
Kaveri Seed
Tata Steel
Grasim Inds
ICICI Bk
Kotak Mah Bk
Tata Chemicals
SBI
Raymond
Chg MoM Current
(pp)
Weight
1.31
2.26
0.98
0.98
0.80
1.22
0.54
2.56
0.52
0.52
0.51
4.86
0.48
3.39
0.36
1.94
0.33
2.65
0.33
1.56
Top scheme by NAV change
Total AUM Equity AUM MoM NAV
Scheme Name
(INR B)
(INR B)
Chg (%)
Motilal Oswal Most Focused Long Term Fund (G)
2.1
2.1
2.8
Motilal Oswal MoSt Focused 25 Fund (G)
3.8
3.8
2.6
Motilal Oswal Most Focused Multicap 35 Fund (G)
47.2
46.1
2.5
Motilal Oswal Most Focused Midcap 30 Fund (G)
13.4
13.3
1.9
Top scheme by NAV change
Scheme Name
Mirae Asset Emerging Bluechip Fund (G)
Mirae Asset Tax Saver Fund (G)
Mirae Asset India Opportunities Fund (G)
Mirae Asset Great Consumer Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
30.9
28.8
4.0
1.4
1.3
3.9
24.4
24.1
2.6
0.6
0.4
2.3
Motilal Oswal Securities Limited is the Sponsor of Motilal Oswal Mutual Fund. The Sponsor is not responsible or liable for any loss or
shortfall resulting from the operation of the Mutual Fund beyond the initial contribution made by it of an amount of Rs. 1 Lac towards setting
up of the Mutual Fund. Mutual fund investments are subject to market risks, read all scheme related documents carefully.
Fund Folio: Indian Mutual Fund Tracker | November 2016
19

Canara Robeco:
Equity AUM INR34b
Top company holdings (%)
Oct-16
HDFC Bk
IndusInd Bk
Infosys
SBI
Century Tex
UltraTech
Divis Lab
Force Motors
HPCL
IOCL
2.1
2.1
2.1
2.0
1.9
1.9
1.9
1.8
Chg MoM (pp)
3.6
-0.1
3.0
-0.1
-0.2
0.3
0.4
0.0
0.0
0.4
0.2
0.2
BNP Paribas:
Equity AUM INR28b
Top company holdings (%)
Oct-16
HDFC Bk
IndusInd Bk
ICICI Bk
Federal Bk
Shriram City
Maruti
UltraTech
Bharat Elect.
Bharti Airtel
PVR
Chg MoM (pp)
-0.4
-0.2
1.1
0.5
0.7
0.3
0.1
0.3
-1.0
0.1
Banks Pvt
Cement
NBFC
Auto
Consumer
Healthcare
Cap Goods
Media
Chemicals
Oil & Gas
6.7
5.5
4.5
4.0
3.4
3.3
3.1
3.0
2.7
2.6
Chg MoM (pp)
12.9
0.9
12.7
0.6
1.2
9.1
9.0
7.8
7.2
-0.6
0.0
-1.1
0.8
-0.9
0.2
-0.3
Weight (%)
9.4
9.3
7.6
7.0
6.9
6.9
4.0
3.4
3.1
Back to
Snapshot
Top sector allocation (%)
Weight (%)
Auto
Banks Pvt
Consumer
Cap Goods
Cement
Chemicals
Oil & Gas
Healthcare
NBFC
Technology
4.3
4.0
Top sector allocation (%)
Chg MoM (pp)
23.4
0.2
-0.6
1.4
-0.9
-1.0
0.3
-0.2
0.0
0.5
0.2
6.3
5.8
Top change by market value
Company
Tata Global
Petronet LNG
Century Textiles
Force Motors
RBL Bank
Max Financial
UPL
Kotak Mah Bk
Sundram Fasteners
SBI
Mkt Value Shares Chg
Chg (INR b)
('000)
0.32
2,256
0.19
485
0.15
189
0.15
0
0.15
390
0.14
241
0.12
171
0.11
101
0.11
332
0.10
319
Top change in weight (%)
Company
Tata Global
Petronet LNG
RBL Bank
Century Textiles
Force Motors
Max Financial
UPL
Sundram Fasteners
Kotak Mah Bk
SBI
Chg MoM Current
(pp)
Weight
0.93
0.93
0.56
0.56
0.44
0.46
0.44
2.08
0.43
1.87
0.40
0.84
0.35
0.35
0.31
0.31
0.31
1.63
0.28
2.09
Top change by market value
Company
Power Grid
ICICI Bk
LIC Hsg Fin.
Shriram City
Federal Bank
Interglobe Avi.
Max Financial
SBI
Endurance Tech
PNB Hsg Fin
Mkt Value Shares Chg
Chg (INR b)
('000)
0.40
2,300
0.29
707
0.19
318
0.18
17
0.14
0
0.13
136
0.13
220
0.12
428
0.11
180
0.10
129
Top change in weight (%)
Company
Power Grid
ICICI Bk
LIC Hsg Fin.
Shriram City
Federal Bank
Interglobe Avi.
Max Financial
SBI
Endurance Tech
PNB Hsg Fin
Chg MoM Current
(pp)
Weight
1.44
1.74
1.07
4.55
0.66
0.85
0.66
3.42
0.51
3.96
0.49
1.92
0.47
1.69
0.43
1.37
0.40
0.40
0.36
0.36
Top scheme by NAV change
Scheme Name
Canara Robeco Emerging Equities (G)
Canara Robeco F.O.R.C.E. Fund (G)
Canara Robeco India Opportunities (G)
Canara Robeco Equity Diversified (G)
Canara Robeco Large Cap+ Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
13.6
13.1
2.7
1.3
1.2
2.3
1.2
1.2
1.6
7.5
7.3
1.2
1.1
1.1
1.1
Top scheme by NAV change
Scheme Name
BNP Paribas Dividend Yield Fund (G)
BNP Paribas Mid Cap Fund (G)
BNP Paribas Long Term Equity Fund (G)
BNP Paribas Equity Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
2.7
2.6
2.6
7.2
6.9
2.3
5.1
4.9
1.1
13.7
13.2
0.7
Fund Folio: Indian Mutual Fund Tracker | November 2016
20

Principal:
Equity AUM INR23b
Top company holdings (%)
Oct-16
HDFC Bk
Infosys
SBI
ICICI Bk
HPCL
ITC
HDFC
Maruti
Britannia
India Cem.
Chg MoM (pp)
5.1
-0.4
0.7
0.2
0.4
0.3
0.0
-0.3
0.2
-0.1
0.2
Banks Pvt
Consumer
Auto
Cement
Oil & Gas
Healthcare
Technology
NBFC
Cap Goods
Banks PSU
Invesco:
Equity AUM INR22b
Top company holdings (%)
Oct-16
HDFC Bk
Infosys
Maruti
HPCL
IDFC
LIC Hsg Fin.
Tata Motors
Sun Pharma
IndusInd Bk
Shriram Trans.
3.5
3.3
2.8
2.6
2.4
2.4
2.4
2.4
2.2
Chg MoM (pp)
7.0
-0.5
-0.1
0.2
0.3
0.0
-0.1
0.0
-0.1
0.0
-0.1
Banks Pvt
Auto
NBFC
Oil & Gas
Technology
Healthcare
Utilities
Cap Goods
Consumer
Media
Weight (%)
Chg MoM (pp)
Weight (%)
15.9
0.2
0.9
10.2
-0.5
10.2
0.1
8.4
0.3
8.2
0.1
7.6
5.8
5.5
5.2
4.6
0.6
-0.7
-0.2
0.2
Back to
Snapshot
Top sector allocation (%)
Top sector allocation (%)
Chg MoM (pp)
15.9
-1.0
0.3
12.7
0.0
10.6
0.1
8.1
0.0
7.9
0.3
7.6
0.0
6.0
0.0
5.8
0.4
4.6
-0.5
3.4
3.3
3.1
3.0
2.8
2.5
2.4
2.4
2.3
2.3
Top change by market value
Company
Infosys
Dabur India
ICICI Bk
Bajaj Auto
Kotak Mah Bk
Cipla
HPCL
Birla Corp.
Federal Bk
SBI
Mkt Value Shares Chg
Chg (INR b)
('000)
0.17
190
0.16
559
0.11
191
0.10
35
0.08
76
0.08
133
0.07
34
0.07
79
0.07
597
0.07
214
Top change in weight (%)
Company
Dabur India
Infosys
Bajaj Auto
ICICI Bk
Cipla
Kotak Mah Bk
Birla Corp.
Bharti Airtel
Federal Bk
United Spirits
Chg MoM Current
(pp)
Weight
0.72
0.72
0.68
3.30
0.42
0.87
0.41
3.03
0.34
0.34
0.32
2.13
0.31
0.71
0.31
0.32
0.30
1.01
0.26
0.71
Top change by market value
Mkt Value Shares Chg
Chg (INR b)
('000)
Ashok Leyland
0.13
1,302
MMFS
0.11
310
Karnataka Bk
0.11
907
HPCL
0.09
66
Tata Elxsi
0.07
57
Coal India
0.07
204
J K Cements
0.06
64
Wonderla Holidays
0.06
118
Sintex Inds.
0.05
584
Maruti
0.05
0
Company
Top change in weight (%)
Chg MoM Current
(pp)
Weight
Ashok Leyland
0.57
0.91
MMFS
0.50
0.67
Karnataka Bk
0.50
0.50
HPCL
0.32
2.80
Tata Elxsi
0.31
0.52
Coal India
0.28
1.54
J K Cements
0.27
0.27
Sintex Inds.
0.24
0.24
Wonderla Holidays
0.24
1.03
Titan Company
0.23
0.23
Company
Top scheme by NAV change
Scheme Name
Principal Dividend Yield Fund (G)
Principal Tax Saving Fund
Principal Growth Fund - (G)
Principal Emerging Bluechip Fund (G)
Principal Large Cap Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
1.2
1.2
2.9
2.9
2.8
2.6
4.2
4.0
2.6
6.7
6.5
2.0
3.1
3.0
1.2
Top scheme by NAV change
Scheme Name
Invesco India PSU Equity Fund (G)
Invesco India Mid Cap Fund (G)
Invesco India Mid N Small Cap Fund (G)
Invesco India Banking Fund (G)
Invesco India Contra Fund (G)
Total AUM Equity AUM MoM NAV
(INR B)
(INR B)
Chg (%)
0.9
0.9
4.8
1.5
1.5
2.6
4.6
4.5
2.4
0.9
0.9
1.4
2.9
2.8
1.3
Fund Folio: Indian Mutual Fund Tracker | November 2016
21

Motilal Oswal Securities Limited
MEMBER OF BSE AND NSE
Disclosures
Motilal Oswal Tower, Sayani Road, Prabhadevi, Mumbai 400 025, INDIA
BOARD: +91 22 3982 5500 | WEBSITE:
www.motilaloswal.com
This document has been prepared by Motilal Oswal Securities Limited (hereinafter referred to as Most) to provide information about the company (ies) and/sector(s), if any, covered in the report and may
be distributed by it and/or its affiliated company(ies). This report is for personal information of the selected recipient/s and does not construe to be any investment, legal or taxation advice to you. This
research report does not constitute an offer, invitation or inducement to invest in securities or other investments and Motilal Oswal Securities Limited (hereinafter referred as MOSt) is not soliciting any
action based upon it. This report is not for public distribution and has been furnished to you solely for your general information and should not be reproduced or redistributed to any other person in any
form. This report does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Before acting on any advice or
recommendation in this material, investors should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. The price and value of the investments
referred to in this material and the income from them may go down as well as up, and investors may realize losses on any investments. Past performance is not a guide for future performance, future
returns are not guaranteed and a loss of original capital may occur.
MOSt and its affiliates are a full-service, integrated investment banking, investment management, brokerage and financing group. We and our affiliates have investment banking and other business
relationships with a some companies covered by our Research Department. Our research professionals may provide input into our investment banking and other business selection processes. Investors
should assume that MOSt and/or its affiliates are seeking or will seek investment banking or other business from the company or companies that are the subject of this material and that the research
professionals who were involved in preparing this material may educate investors on investments in such business . The research professionals responsible for the preparation of this document may
interact with trading desk personnel, sales personnel and other parties for the purpose of gathering, applying and interpreting information. Our research professionals are paid on twin parameters of
performance & profitability of MOSt.
MOSt generally prohibits its analysts, persons reporting to analysts, and members of their households from maintaining a financial interest in the securities or derivatives of any companies that the
analysts cover. Additionally, MOSt generally prohibits its analysts and persons reporting to analysts from serving as an officer, director, or advisory board member of any companies that the analysts
cover. Our salespeople, traders, and other professionals or affiliates may provide oral or written market commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions
expressed herein, and our proprietary trading and investing businesses may make investment decisions that are inconsistent with the recommendations expressed herein. In reviewing these materials,
you should be aware that any or all of the foregoing among other things, may give rise to real or potential conflicts of interest. MOSt and its affiliated company(ies), their directors and employees and
their relatives may; (a) from time to time, have a long or short position in, act as principal in, and buy or sell the securities or derivatives thereof of companies mentioned herein. (b) be engaged in any
other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as an advisor or
lender/borrower to such company(ies) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions.; however the same shall have
no bearing whatsoever on the specific recommendations made by the analyst(s), as the recommendations made by the analyst(s) are completely independent of the views of the affiliates of MOSt even
though there might exist an inherent conflict of interest in some of the stocks mentioned in the research report Reports based on technical and derivative analysis center on studying charts company's
price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamental analysis. In
addition MOST has different business segments / Divisions with independent research separated by Chinese walls catering to different set of customers having various objectives, risk profiles, investment
horizon, etc, and therefore may at times have different contrary views on stocks sectors and markets.
Fund Folio: Indian Mutual Fund Tracker | November 2016

Unauthorized disclosure, use, dissemination or copying (either whole or partial) of this information, is prohibited. The person accessing this information specifically agrees to exempt MOSt or any of its affiliates or
employees from, any and all responsibility/liability arising from such misuse and agrees not to hold MOSt or any of its affiliates or employees responsible for any such misuse and further agrees to hold MOSt or any of its
affiliates or employees free and harmless from all losses, costs, damages, expenses that may be suffered by the person accessing this information due to any errors and delays. The information contained herein is based
on publicly available data or other sources believed to be reliable. Any statements contained in this report attributed to a third party represent MOSt’s interpretation of the data, information and/or opinions provided by that
third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. This Report is not intended to be a complete statement or summary of the securities,
markets or developments referred to in the document. While we would endeavor to update the information herein on reasonable basis, MOSt and/or its affiliates are under no obligation to update the information. Also there
may be regulatory, compliance, or other reasons that may prevent MOSt and/or its affiliates from doing so. MOSt or any of its affiliates or employees shall not be in any way responsible and liable for any loss or damage
that may arise to any person from any inadvertent error in the information contained in this report. MOSt or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind,
regarding any matter pertaining to this report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. The recipients of this report should rely on their own
investigations.
This report is intended for distribution to institutional investors. Recipients who are not institutional investors should seek advice of their independent financial advisor prior to taking any investment decision based on this
report or for any necessary explanation of its contents.
Most and it’s associates may have managed or co-managed public offering of securities, may have received compensation for investment banking or merchant banking or brokerage services, may have received any
compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months.
Most and it’s associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
Subject Company may have been a client of Most or its associates during twelve months preceding the date of distribution of the research report
MOSt and/or its affiliates and/or employees may have interests/positions, financial or otherwise of over 1 % at the end of the month immediately preceding the date of publication of the research in the securities mentioned
in this report. To enhance transparency, MOSt has incorporated a Disclosure of Interest Statement in this document. This should, however, not be treated as endorsement of the views expressed in the report.
Motilal Oswal Securities Limited is registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014. SEBI Reg. No. INH000000412
Pending Regulatory inspections against Motilal Oswal Securities Limited:
SEBI pursuant to a complaint from client Shri C.R. Mohanraj alleging unauthorized trading, issued a letter dated 29th April 2014 to MOSL notifying appointment of an Adjudicating Officer as per SEBI regulations to hold
inquiry and adjudge violation of SEBI Regulations; MOSL replied to the Show Cause Notice whereby SEBI granted us an opportunity of Inspection of Documents. Since all the documents requested by us were not covered
we have requested to SEBI vide our letter dated June 23, 2015 to provide pending list of documents for inspection.
List of associate companies of Motilal Oswal Securities Limited -Click
here to access detailed report
Analyst Certification
The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly
or indirectly related to the specific recommendations and views expressed by research analyst(s) in this report. The research analysts, strategists, or research associates principally responsible for preparation of MOSt
research receive compensation based upon various factors, including quality of research, investor client feedback, stock picking, competitive factors and firm revenues
Disclosure of Interest Statement
Companies where there is interest
Analyst ownership of the stock
No
Served as an officer, director or employee
No
Fund Folio: Indian Mutual Fund Tracker | November 2016

A graph of daily closing prices of securities is available at www.nseindia.com and
http://economictimes.indiatimes.com/markets/stocks/stock-quotes
Regional Disclosures (outside India)
This report is not directed or intended for distribution to or use by any person or entity resident in a state, country or any jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or
which would subject MOSt & its group companies to registration or licensing requirements within such jurisdictions.
For Hong Kong: This report is distributed in Hong Kong by Motilal Oswal capital Markets (Hong Kong) Private Limited, a licensed corporation (CE AYY-301) licensed and regulated by the Hong Kong Securities and Futures
Commission (SFC) pursuant to the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) “SFO”. As per SEBI (Research Analyst Regulations) 2014 Motilal Oswal Securities (SEBI Reg No.
INH000000412) has an agreement with Motilal Oswal capital Markets (Hong Kong) Private Limited for distribution of research report in Kong Kong. This report is intended for distribution only to “Professional Investors” as
defined in Part I of Schedule 1 to SFO. Any investment or investment activity to which this document relates is only available to professional investor and will be engaged only with professional investors.” Nothing here is an
offer or solicitation of these securities, products and services in any jurisdiction where their offer or sale is not qualified or exempt from registration. The Indian Analyst(s) who compile this report is/are not located in Hong Kong
& are not conducting Research Analysis in Hong Kong.
For U.S
Motilal Oswal Securities Limited (MOSL) is not a registered broker - dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition MOSL
is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States.
Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by MOSL, including the products and services described herein are not available to or intended for U.S.
persons.
This report is intended for distribution only to "Major Institutional Investors" as defined by Rule 15a-6(b)(4) of the Exchange Act and interpretations thereof by SEC (henceforth referred to as "major institutional investors"). This
document must not be acted on or relied on by persons who are not major institutional investors. Any investment or investment activity to which this document relates is only available to major institutional investors and will be
engaged in only with major institutional investors. In reliance on the exemption from registration provided by Rule 15a-6 of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act") and interpretations
thereof by the U.S. Securities and Exchange Commission ("SEC") in order to conduct business with Institutional Investors based in the U.S., MOSL has entered into a chaperoning agreement with a U.S. registered broker-
dealer, Motilal Oswal Securities International Private Limited. ("MOSIPL"). Any business interaction pursuant to this report will have to be executed within the provisions of this chaperoning agreement.
The Research Analysts contributing to the report may not be registered /qualified as research analyst with FINRA. Such research analyst may not be associated persons of the U.S. registered broker-dealer, MOSIPL, and
therefore, may not be subject to NASD rule 2711 and NYSE Rule 472 restrictions on communication with a subject company, public appearances and trading securities held by a research analyst account.
For Singapore
Motilal Oswal Capital Markets Singapore Pte Limited is acting as an exempt financial advisor under section 23(1)(f) of the Financial Advisers Act(FAA) read with regulation 17(1)(d) of the Financial Advisors Regulations and is
a subsidiary of Motilal Oswal Securities Limited in India. This research is distributed in Singapore by Motilal Oswal Capital Markets Singapore Pte Limited and it is only directed in Singapore to accredited investors, as defined
in the Financial Advisers Regulations and the Securities and Futures Act (Chapter 289), as amended from time to time.
In respect of any matter arising from or in connection with the research you could contact the following representatives of Motilal Oswal Capital Markets Singapore Pte Limited:
Varun Kumar
Varun.kumar@motilaloswal.com
Contact : (+65) 68189232
Office Address:21 (Suite 31),16 Collyer Quay,Singapore 04931
Fund Folio: Indian Mutual Fund Tracker | November 2016

Quant Research & India Strategy Gallery