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    Dspbrmf monthly factsheet_jul_312011 Dspbrmf monthly factsheet_jul_312011 Document Transcript

    • MONTHLY FACTSHEET July 31, 2011 Transact Online
    • Macro-economic Review• he Industrial Production (IP) growth growth (new base) decelerated to 5.6% in May (vs.5.8% growth in April). As per the old index, the IP growth decelerated to 3.6% YoY in May (vs. T 4.4% growth in April).• ­ he WPI headline inflation rose an annual 9.44 per cent in June, driven by higher manufactured goods and fuel prices. The manufactured products index, the largest constituent of T the wholesale price index inched up 0.1 percent, while the primary articles index rose by 2.8 percent. The index of food articles too increased by 8.38 percent in June, while that for fuels rose by 12.85 percent • India’s exports rose by 46.45 per cent to $29.21 billion during June 2011. Though imports grew by 42.46 per cent to $36.8 billion in June, the trade deficit of $7.6 billion was almost half the level of $14.9 billion seen in May. Equity Market:Overview• MSCI India underperformed emerging markets in July,. India’s performance ranking slipped among emerging markets, having risen in the previous month. Year to date, India continues to rank among the bottom four. Sensex/Sectors: The BSE Sensex closed the month down 3.4%. Telecoms was the best performing sector (for the second month running) while Energy was the worst during the • month. Year-to-date, Telecoms remains the worst performing sector and Consumer Staples, the best. Large/Mid/Small Cap: The small and mid-cap indices outperformed the large-cap index by significant margins, even as they continue to under perform the large-cap index year-to-• date. Flows: In July, FIIs remained buyers (worth USD1.2 bn) in the cash market for the 2nd consecutive month. FIIs sold in the derivatives segment. Options activity touched an all-time high • and, now accounts for 59% of total derivatives volumes. Overall domestic institutions remained buyers (at ~ USD 60mn). Domestic mutual funds were buyers for the 3rd consecutive month (at ~ USD120 mn) while domestic insurance companies remained sellers (at ~USD60 mn). Since the start of 2011, FIIs have bought ~ USD 2.3 bn worth of stocks in the cash market and domestic institutions have bought ~ USD 3.2bn worth of stocks.• Equity market activity: Market activity recovered MoM. Cash volumes and turnover rose 3.4% MoM. Cash turnover was off its 28-month low. Volumes in the derivatives market were up 6% MoM. Valuation: MSCI India’s absolute valuations fell to a 27-month low while relative valuations stood at 41% premium at the end of July.• Outlook•­ Equity market performance during July remained lackluster on the back of weak global cues. Further, the concerns over domestic inflation and its impact on consumption and the resulting RBI policy action have continued to be an overhang for the Indian stock market dragging the Benchmark BSE Sensex by 3.44% over the month. However in what can be termed as a sign delinking with global markets, Indian equities saw strong inflows of USD1.2bn during the same period.•­ The Reserve Bank of India (RBI) hiked both repo and reverse repo rates by 50 basis points clearly indicating their intention of controlling inflation at the cost of lower growth going forward. But with softening of commodity prices globally and expectations that the interest rate cycle is peaking out, there could be some respite. We could see one more round of rate hikes (25 BPS) in September which should be the last one for this calendar year •­ Corporate earnings released so far for April to June quarter have been mixed, and largely as per expectations, showing a 15% growth in earnings. The consensus earnings growth expectations for FY12 stand at 17-18%. On the back of higher input costs and high wage growth Indian companies are showing signs of margin pressure. •­ Global economic news, foreign fund flows and monsoon are the other key variables that could influence the direction of the market in the near to medium term. Additionally, an improvement in the fiscal situation and correction in commodity prices on the back of global concerns should augur well for domestic economic growth.General Update:• Currency: The INR appreciated vs. USD as well as Euro this month for the 2nd month running. Over the past 12-months INR has appreciated by 5.2% against the USD while it has depreciated 4.6% vs. the Euro. • Gold: Gold prices rallied by 8.5% in July to close the month at USD 1,627.9/ounce. • Oil: WTI crude rallied by 2.9% to close the month at USD 95.7/barrel. Source: Morgan Stanley Research, IIFL Research, Bloomberg, Internal as at July 31, 2011
    • Fixed Income Market:Overview• The Benchmark 10 Yr government bond yield moved from 8.33% pa in the beginning of the month to 8.45% pa as on July 31, 2011.• Money market rates moved up over the month. 3M Bank CD yields moved from 8.38% pa at the beginning of the month to around 9.13% pa as of July 31, 2011. The 12M Bank CD yields moved from 9.73% pa to around 9.80% pa during the same period. • Systemic liquidity in the banking system at the end of the month was on average Rs. 45,000cr (USD 10bn) negative.Outlook• The RBI has sent a clear and unambiguous signal to watch the headline inflation for any change in the stance and has surprised the market with a 50 basis-point rate hike. The RBI has kept the door open for more rate hikes even if it results in some economic slowdown. Considering the fact that headline inflation is likely to remain elevated (Headline Inflation target for March 2012 is increased from 6% to 7% YOY), market participants will begin to factor in possibility of more rate hikes as against the earlier expectations of no more rate hikes.• The RBI has also cautioned regarding the likely fiscal slippage in FY2012. We expect government bond yields to remain range-bound for some time and RBI will support the market by way of doing Open market operations as and when required. The Market will react negatively, if there is any extra borrowing above the scheduled borrowing for FY2011-12.• Systemic liquidity is likely to worsen from its current level by the beginning of second-half of the year on account of festival-related cash withdrawals and busy season credit off-take. Money market yields have inched up by 15-30 basis points across the curve. We expect money market curve will flatten as there will be more supply in 3M category than long term(1y).Source: Bloomberg, Internal as at July 31, 2011 AUM SNAPSHOT AUM AS ON LAST BUSINESS DAY OF JULY (IN ` CRORE) EQUITY ORIENTED SCHEMES DSP BlackRock Equity Fund 2,640.92 DSP BlackRock Small and Mid Cap Fund 1,294.72 DSP BlackRock Top 100 Equity Fund 3,005.69 DSP BlackRock Tax Saver Fund 809 .45 DSP BlackRock Opportunities Fund 728.62 DSP BlackRock Micro Cap Fund 483.79 DSP BlackRock India T.I.G.E.R. Fund 1,992.98 DSP BlackRock Natural Resources & New Energy Fund 144.76 (The Infrastructure Growth and Economic Reforms Fund) DSP BlackRock Focus 25 Fund 636.97 DSP BlackRock Technology.com Fund 60.21 FUND OF FUND SCHEMES DSP BlackRock World Gold Fund 1,040.36 DSP BlackRock World Mining Fund 147.38 DSP BlackRock World Energy Fund 264.09 HYBRID SCHEMES DSP BlackRock Balanced Fund 751.23 DSP BlackRock Savings Manager Fund 230.00 FIXED INCOME SCHEMES DSP BlackRock Liquidity Fund 4,251.08 DSP BlackRock Bond Fund 40.98 DSP BlackRock Floating Rate Fund 467.29 DSP BlackRock Strategic Bond Fund 597.80 DSP BlackRock Money Manager Fund 2,595.79 DSP BlackRock Government Securities Fund 95.52 DSP BlackRock Short Term Fund 546.54 DSP BlackRock Treasury Bill Fund 2.43
    • CRISIL MUTUAL FUND RANK 1* DSP BlackRock Equity FundFUND MANAGERApoorva Shah PortfolioTotal work experience of 24 years. Sr. Name of Instrument Rating/Industry Market value % to Net PREFERENCE SHARESManaging this Scheme since No. (` lakh) Assets Listed / awaiting listing on the stock exchangesJune 2006 74 Trent Series A - CCPS Retailing 884.54 0.33% EQUITY & EQUITY RELATED 75 Trent Series B - CCPS Retailing 852.57 0.32% Listed / awaiting listing on the stock exchanges Total 1,737.10 0.65% 1 HDFC Bank Banks 14,375.47 5.44%INVESTMENT OBJECTIVE Housing Development Finance CBLO / Reverse Repo Investments 9,179.15 3.47%An Open Ended growth Scheme, 2 Finance 12,485.09 4.73% Total 9,179.15 3.47% Corporationseeking to generate long term 3 Bharat Petroleum Corpn. Petroleum Products 9,391.61 3.56%capital appreciation, from a portfolio 4 Hindalco Industries Non - Ferrous Metals 6,365.00 2.41% Cash & Cash Equivalentsthat is substantially constituted of 5 Hindustan Unilever Diversified 6,158.81 2.33% Net Receivable/Payable 5,603.19 2.16%equity securities and equity related 6 Oil & Natural Gas Corpn Oil 5,862.50 2.22% Total 5,603.19 2.16%securities of issuers domiciled in 7 Larsen & Toubro Construction Project 5,760.09 2.18% Grand Total 264,091.94 100.00%India. 8 ITC Consumer Non Durables 5,614.56 2.13% Notes: 1. Portfolio Turnover Ratio (Last 12 months): 1.85 times. 2. Total Expense 9 Siemens Industrial Capital Goods 5,479.60 2.07% Ratio (F.Y. beginning to date): IP: 1.44% RP: 1.86% Since Inception Ratios: 1. Standard 10 Lupin Pharmaceuticals 5,360.07 2.03%ASSET ALLOCATION 11 Tata Power Company Power 5,294.99 2.00% Deviation: 24.66% 2. Beta: 0.81 3. R-Squared: 82.78% 4. Sharpe Ratio: 0.67Equity & Equity related securities: 12 Tata Chemicals Fertilisers 5,225.36 1.98%90% to 100% & Debt* & Money 13 Godrej Properties Construction 5,047.81 1.91%market securities: 0% to 10%. 14 EID Parry India Consumer Non Durables 4,904.96 1.86% Comparative performance 15 Info Edge (India) Software 4,729.10 1.79%* Debt securities/instruments are 16 Arvind Textile Products 4,596.77 1.74% COMPOUNDED ANNUALISED RETURN PERIODdeemed to include securitised debts 17 GlaxoSmithKline Pharmaceuticals Pharmaceuticals 4,226.64 1.60% DSPBREF (REGULAR PLAN) S&P CNX 500^ 18 Tata Motors Auto 4,177.25 1.58% Last 6 months 2.88% (0.01%) 19 Bayer Cropscience Pesticides 3,953.99 1.50% Last 1 Year 3.76% (1.14%) 20 Sun Pharmaceuticals Industries Pharmaceuticals 3,792.08 1.44%REDEMPTION 21 Godrej Industries Chemicals 3,741.18 1.42% Last 3 Years 16.49% 8.59% Last 5 Years 19.65% 11.55% PROCEEDS 22 Trent Retailing 3,708.74 1.40% Since Inception 23.87% 13.90% Normally within 3 Business Days 23 Cairn India Oil 3,526.28 1.34% NAV / Index Value (July 29) ` 48.448 4424.05from acceptance of redemption 24 Eicher Motors Auto 3,497.61 1.32% 25 Apollo Tyres Auto Ancillaries 3,490.34 1.32% Date of allotment 29th April, 1997request. 26 Suzlon Energy Industrial Capital Goods 3,416.61 1.29% 27 CMC Hardware 3,329.32 1.26% SIP PERFORMANCE* 28 Cadila Healthcare Pharmaceuticals 3,306.53 1.25% INVEST- DSPBREF (REGULAR PLAN) S&P CNX 500^FEATURES 29 ICICI Bank Banks 3,292.20 1.25% PERIOD MENT (`)• Minimum investment and minimum 30 Chambal Fertilizers & Chemicals Fertilisers 3,277.02 1.24% VALUE (`) CAGR (%) VALUE (`) CAGR (%) additional purchase 31 Kotak Mahindra Bank Banks 3,094.90 1.17% Last 1 Year 12,000 11,808 (2.95%) 11,396 (9.18%) - Regular Plan (RP): ` 5,000/- and 32 Tata Global Beverages Consumer Non Durables 3,012.49 1.14% Last 3 Years 36,000 48,921 20.97% 44,332 14.00% 33 Gujarat Pipavav Port Transportation 2,897.33 1.10% ` 1,000/- thereafter. 34 Redington (India) Hardware 2,874.78 1.09% Last 5 Years 60,000 88,861 15.71% 74,023 8.33% - Institutional Plan (IP): ` 1 crore 35 Hindustan Petroleum Corporation Petroleum Products 2,832.88 1.07% Since Inception 1,71,000 12,40,446 24.89% 6,01,816 16.17% and ` 1,000/- thereafter. 36 Lakshmi Machine Works Industrial Capital Goods 2,739.42 1.04% Start date of SIP 29th April, 1997 37 Torrent Pharmaceuticals Pharmaceuticals 2,708.61 1.03%• Options available (for both plans): ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are 38 GlaxoSmithKline Consumer Healthcare Consumer Non Durables 2,706.56 1.02% • Growth calculated on ` 10/- invested at inception, viz. date of allotment. All returns are 39 SRF Auto Ancillaries 2,597.40 0.98% for Regular Plan - Reinvest Dividend Option, assuming reinvestment of dividend. • Dividend 40 Zuari Industries Fertilisers 2,594.31 0.98% DSPBREF, which is benchmarked to the S&P CNX 500 Index, is not sponsored, - Payout Dividend 41 Areva T&D India Industrial Capital Goods 2,498.64 0.95% endorsed, sold or promoted by India Index Services & products Limited (IISL). IISL is not responsible for any errors or omissions or the results obtained from - Reinvest Dividend 42 Praj Industries Industrial Capital Goods 2,230.94 0.84% the use of such index and in no event shall IISL have any liability to any party for 43 Sintex Industries Industrial Products 2,230.56 0.84% any damages of whatsoever nature (including lost profits)resulted to such party • Entry load: Nil due to purchase or sale or otherwise of DSPBREF marked to such index. *The SIP 44 Grasim Industries Textile Products 2,229.09 0.84% investment returns table assumes monthly investments of ` 1,000 being invested 45 Bharat Forge Industrial Products 2,218.67 0.84% since the Date of Allotment. The SIP returns are computed on the assumption that • Exit load (both plans): 46 Dr. Reddys Laboratories Pharmaceuticals 2,212.86 0.84% the monthly installments were received across time periods from the start date of Holding Period: 47 Thermax Industrial Capital Goods 2,184.84 0.83% SIP. The CAGR is computed based on IRR since the SIP instalments are received at < 12 months: 1% 48 Fortis Healthcare Healthcare Services 2,135.40 0.81% different intervals across the SIP period. XIRR calculates internal rate of return for a series of cash flows. The benchmark returns are computed on the assumption >= 12 months: Nil 49 Power Finance Corporation Finance 2,126.03 0.81% that the value of the benchmark index is the price of one unit and “Since inception” 50 Gujarat State Petronet Gas 2,110.93 0.80% returns are computed from the “Start date of SIP”. Past performance may or may 51 ING Vysya Bank Banks 2,110.69 0.80% not be sustained in future and should not be used as a basis for comparison with other investments. 52 Power Grid Corporation of India Power 2,103.56 0.80%NAV AS ONJuly 29, 2011 53 54 KPIT Cummins Infosystems Alstom Projects India Software Industrial Capital Goods 2,086.37 1,988.24 0.79% 0.75% Sectoral Allocation 55 Bajaj Finserv Finance 1,979.04 0.75% BANKS 9.39% AUTO ANCILLARIES 2.30%Regular Plan 56 Punjab National Bank Banks 1,938.41 0.73% INDUSTRIAL CAPITAL GOODS 8.47% RETAILING 2.28% 57 Bajaj Finance Finance 1,928.75 0.73% PHARMACEUTICALS 8.19% PESTICIDES 2.02%Growth: ` 16.491 FINANCE 7.90% CONSTRUCTION 1.91%Dividend: ` 48.448 58 Jet Airways (India) Transportation 1,880.95 0.71% CONSUMER NON DURABLES 6.80% TRANSPORTATION 1.81% 59 NIIT Software 1,853.96 0.70% PETROLEUM PRODUCTS 4.63% INDUSTRIAL PRODUCTS 1.74% 60 NMDC Minerals/Mining 1,852.50 0.70% FERTILISERS 4.20% CHEMICALS 1.42%Institutional Plan SOFTwARE 3.78% MINERALS/MINING 1.39% 61 Tecpro Systems Industrial Capital Goods 1,842.02 0.70%Growth: ` 13.079 OIL 3.56% HEALTHCARE SERVICES 0.81% 62 Gujarat Mineral Development Corporation Minerals/Mining 1,831.96 0.69% AUTO 3.51% GAS 0.80% 63 Nagarjuna Construction Co. Construction Project 1,780.38 0.67% CONSTRUCTION PROJECT 3.06% TEXTILES - COTTON 0.63% 64 Radico Khaitan Consumer Non Durables 1,711.45 0.65% POwER 2.80% TELECOM - SERVICES 0.54% 65 Vardhman Textiles Textiles - Cotton 1,662.36 0.63% NON - FERROUS METALS 2.64% FERROUS METALS 0.53% 66 Tata Motors - A Class Auto 1,608.95 0.61% TEXTILE PRODUCTS 2.58% MEDIA & ENTERTAINMENT 0.00% 67 Idea Cellular Telecom - Services 1,430.64 0.54% HARDwARE 2.35% CASH & EQUIVALENT 5.63% DIVERSIFIED 2.33% 68 Monsanto India Pesticides 1,380.88 0.52% 69 Monnet Ispat Ferrous Metals 1,375.32 0.52% 70 Tata Consultancy Services Software 1,315.49 0.50% *‘Open End Consistent Equity’ category, ranks within Top 10 percentile of the 52 Cumulative value of securities with holdings less than 0.5% (as a %age 71 4,286.35 1.62% schemes considered, 5 year period ending Jun 30, 2011. Past performance is to net assets) Total 247,572.50 93.72% no guarantee of future results. Please refer page no. 27 for details on the Ranking Methodology. Unlisted 72 Magnasound (India) Media & Entertainment 0.00 0.00% 73 SIP Technologies & Export Software 0.00 0.00% Total 0.00 0.00% 4
    • DSP BlackRock Top 100 Equity FundPortfolio Comparative performance FUND MANAGER Apoorva Shah Sr. Name of Instrument Rating/Industry Market value % to Net COMPOUNDED ANNUALISED RETURN Total work experience of 24 years. No. (` lakh) Assets PERIOD Managing this Scheme since DSPBRTEF (REGULAR PLAN) BSE 100^ April 2006 Last 6 months (0.00%) (0.33%) EQUITY & EQUITY RELATED Last 1 Year 4.86% (0.20%) Listed / awaiting listing on the stock exchanges 1 HDFC Bank Banks 24,114.17 8.02% Last 3 Years 14.14% 8.41% INVESTMENT OBJECTIVE Housing Development Finance Last 5 Years 17.56% 11.96% An Open Ended growth Scheme, 2 Finance 24,071.22 8.01% seeking to generate capital Corporation Since Inception 31.36% 24.21% appreciation, from a portfolio 3 Larsen & Toubro Construction Project 18,498.74 6.15% NAV/Index Value (July 29) ` 98.647 9,537.41 that is substantially constituted 4 ITC Consumer Non Durables 16,395.85 5.45% of equity securities and equity Date of allotment 10th March, 2003 5 Tata Consultancy Services Software 14,727.25 4.90% related securities of the 100 largest 6 Oil & Natural Gas Corpn Oil 14,719.09 4.90% SIP PERFORMANCE* corporates, by market capitalisation, 7 Hindustan Unilever Diversified 13,952.27 4.64% DSPBRTEF (REGULAR listed in India. 8 Bharat Petroleum Corpn. Petroleum Products 12,416.21 4.13% INVEST- BSE 100^ PERIOD PLAN) 9 Tata Motors Auto 12,089.18 4.02% MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) 10 Siemens Industrial Capital Goods 10,980.39 3.65% ASSET ALLOCATION Last 1 Year 12,000 11,742 (3.95%) 11,393 (9.22%) Equity and Equity related securities 11 Lupin Pharmaceuticals 8,583.20 2.86% Last 3 Years 36,000 45,980 16.56% 44,225 13.83% - 90% - 100% 12 Hindalco Industries Non - Ferrous Metals 7,792.22 2.59% Last 5 Years 60,000 83,471 13.17% 74,330 8.50% 13 GAIL (India) Gas 7,670.07 2.55% Debt, Securitised Debt and Money 14 GlaxoSmithKline Pharmaceuticals Pharmaceuticals 7,548.82 2.51% Since Inception 1,00,000 2,62,079 22.33% 1,99,744 16.10% market securities - 0% - 10% 15 Tata Power Company Power 7,494.37 2.49% Start date of SIP 10th March, 2003 16 Kotak Mahindra Bank Banks 7,000.29 2.33% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns 17 Dabur India Consumer Non Durables 6,836.24 2.27% are calculated on ` 10/- invested at inception, viz. date of allotment. All returns REDEMPTION 18 Power Grid Corporation of India Power 6,499.48 2.16% are for Regular Plan - Growth Option. *The SIP investment returns table assumes 19 ABB Industrial Capital Goods 5,533.58 1.84% monthly investments of ` 1,000 being invested since the Date of Allotment. The PROCEEDS SIP returns are computed on the assumption that the monthly installments were Normally within 3 Business Days 20 ICICI Bank Banks 4,666.72 1.55% from acceptance of redemption received across time periods from the start date of SIP. The CAGR is computed 21 Grasim Industries Textile Products 4,491.96 1.49% request. based on IRR since the SIP instalments are received at different intervals across 22 Cairn India Oil 4,453.63 1.48% the SIP period. XIRR calculates internal rate of return for a series of cash flows. 23 Power Finance Corporation Finance 4,220.63 1.40% The benchmark returns are computed on the assumption that the value of the 24 Sun Pharmaceuticals Industries Pharmaceuticals 4,199.35 1.40% benchmark index is the price of one unit and “Since inception” returns are FEATURES 25 Cadila Healthcare Pharmaceuticals 4,090.02 1.36% computed from the “Start date of SIP”. Past performance may or may not be • Minimum investment and sustained in future and should not be used as a basis for comparison with other minimum additional purchase 26 DLF Construction 3,881.42 1.29% investments. - Regular Plan (RP): ` 5,000/- 27 Wipro Software 3,586.66 1.19% 28 Punjab National Bank Banks 2,877.20 0.96% and ` 1,000/- thereafter. - Institutional Plan (IP): ` 1 crore 29 30 Dr. Reddys Laboratories NTPC Pharmaceuticals Power 2,607.34 2,599.44 0.87% 0.86% Sectoral Allocation and ` 1,000/- thereafter. 31 Cipla Pharmaceuticals 2,589.92 0.86% BANKS 13.11% DIVERSIFIED 4.64% • Options available (for both plans) 32 NMDC Minerals/Mining 2,189.13 0.73% PHARMACEUTICALS 9.86% AUTO 4.64% • Growth 33 Indian Oil Corporation Petroleum Products 2,185.44 0.73% FINANCE 9.41% NON - FERROUS METALS 2.82% • Dividend 34 Tata Motors - A Class Auto 1,872.04 0.62% CONSUMER NON DURABLES 7.72% GAS 2.55% - Payout Dividend 35 Idea Cellular Telecom - Services 1,633.99 0.54% OIL 6.38% TEXTILE PRODUCTS 1.49% - Reinvest Dividend Cumulative value of securities with holdings less than 0.5% (as a %age CONSTRUCTION PROJECT 6.15% CONSTRUCTION 1.29% • Entry load: Nil 36 1,439.85 0.48% SOFTwARE 6.09% MINERALS/MINING 0.73% to net assets) INDUSTRIAL CAPITAL GOODS 5.89% TELECOM - SERVICES 0.54% • Exit load (both plans): Total 280,507.38 93.28% POwER 5.51% CASH & EQUIVALENT 6.32% Holding Period: PETROLEUM PRODUCTS 4.86% < 12 months: 1% DERIVATIVES 37 ABB Aug 2011 Industrial Capital Goods 1,207.49 0.40% >= 12 months: Nil Total 1,207.49 0.40% CBLO / Reverse Repo Investments 12,192.53 4.05% NAV AS ON Total 12,192.53 4.05% July 29, 2011 Cash & Cash Equivalents Regular Plan Net Receivable/Payable 6,661.56 2.27% Growth - ` 98.647 Total 6,661.56 2.27% Dividend - ` 20.928 Grand Total 300,568.96 100.00% Institutional PlanNotes: 1. Portfolio Turnover Ratio (Last 12 months): 2.53 times. 2. Total Expense Growth - ` 13.557Ratio (F.Y. beginning to date): IP: 1.44% RP: 1.84% Since Inception Ratios: 1. Dividend - ` 13.557Standard Deviation: 23.79% 2. Beta: 0.83 3. R-Squared: 92.83% 4. Sharpe Ratio: 1.01 5
    • DSP BlackRock Opportunities FundFUND MANAGERAnup Maheshwari PortfolioTotal work experience of 19 years. Sr. Name of Instrument Rating/Industry Market value % to Net 67 Bajaj Auto Aug 2011 Auto 529.13 0.73%Managing this Scheme since No. (` lakh) Assets 68 Titan Industries Aug 2011 Consumer Non Durables 376.28 0.52%November 2006 69 Index Derivatives Index Derivatives 6.57 0.01% EQUITY & EQUITY RELATED Total 1,931.97 2.66% Listed / awaiting listing on the stock exchangesINVESTMENT OBJECTIVE 1 Bharti Airtel Telecom - Services 3,908.49 5.36% BONDS & NCDsAn Open Ended growth Scheme, 2 HDFC Bank Banks 2,849.53 3.91% Listed / awaiting listing on the stock exchangesseeking to generate long term capital appreciation and whose 3 ITC Consumer Non Durables 2,782.55 3.82% 70 Britannia Industries AAA 65.06 0.09%secondary objective is income 4 Karur Vysya Bank Banks 2,508.68 3.44% Total 65.06 0.09%generation and the distribution of 5 Tata Consultancy Services Software 2,480.87 3.40%dividend from a portfolio constituted 6 Bharat Petroleum Corpn. Petroleum Products 2,397.64 3.29% CBLO / Reverse Repo Investments 719.73 0.98%of equity and equity related securities concentrating on the 7 ICICI Bank Banks 2,334.53 3.20% Total 719.73 0.98%investment focus of the Scheme. Housing Development Finance 8 Finance 2,243.47 3.08% Corporation Cash & Cash Equivalents 9 Reliance Industries Petroleum Products 2,184.99 3.00% Net Receivable/Payable 78.02 0.11%ASSET ALLOCATION 10 Infosys Software 2,082.51 2.86% Total 78.02 0.11%Equity & Equity related securities: 11 Nestle India Consumer Non Durables 1,448.34 1.99% Grand Total 72,862.44 100.00%80% - 100% 12 Larsen & Toubro Construction Project 1,447.60 1.99%Fixed Income securities (Debt* & 13 Bharat Electronics Industrial Capital Goods 1,180.58 1.62% Notes: 1. Portfolio Turnover Ratio : (Last 12 months): 0.79 times. 2. Total Expense Money market securities): 14 Cadila Healthcare Pharmaceuticals 1,165.47 1.60% Ratio (F.Y. beginning to date): RP: 2.14%. Since Inception Ratios: 1. Standard 0% - 20%. 15 Oracle Financial Services Software Software 1,130.41 1.55% Deviation: 25.36% 2. Beta: 0.87 3. R-Squared: 86.22% 4. Sharpe Ratio: 0.54* Debt securities/ instruments are 16 GAIL (India) Gas 1,095.01 1.50%deemed to include securitised debts 17 18 Motherson Sumi Systems Dr. Reddys Laboratories Auto Ancillaries Pharmaceuticals 1,088.47 1,066.21 1.49% 1.46% Comparative performance 19 Chambal Fertilizers & Chemicals Fertilisers 1,060.77 1.46% COMPOUNDED ANNUALISED RETURNREDEMPTION 20 Lupin Pharmaceuticals 1,013.15 1.39% PERIOD DSPBROF (REGULAR PLAN) S&P CNX 500^PROCEEDS 21 GlaxoSmithKline Pharmaceuticals Pharmaceuticals 998.22 1.37% Last 6 months 0.26% (0.01%)Normally within 3 Business Days 22 Oil & Natural Gas Corpn Oil 995.71 1.37% 23 Bank of Baroda Banks 975.12 1.34% Last 1 Year 1.50% (1.14%)from acceptance of redemption 24 Tata Steel Ferrous Metals 970.50 1.33% Last 3 Years 14.73% 8.59% request. 25 Sterlite Industries ( India ) Non - Ferrous Metals 946.48 1.30% Last 5 Years 14.52% 11.55% 26 Tata Motors - A Class Auto 938.81 1.29% Since Inception 21.06% 14.83% 27 Indian Oil Corporation Petroleum Products 858.54 1.18% NAV/Index Value (July 29) ` 85.189 4,424.05FEATURES 28 Dish TV India Media & Entertainment 854.98 1.17% Date of allotment 16th May, 2000• Minimum investment and minimum 29 NIIT Technologies Software 853.66 1.17% additional purchase 30 Oil India Oil 794.78 1.09% SIP PERFORMANCE* - Regular Plan (RP): ` 5,000/- 31 Voltas Construction Project 790.88 1.09% INVEST- DSPBROF (REGULAR PLAN) S&P CNX 500^ and ` 1,000/- thereafter. PERIOD - Institutional Plan (IP): ` 1 crore 32 IPCA Laboratories Pharmaceuticals 790.64 1.09% MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) and ` 1,000/- thereafter. 33 3M India Trading 756.02 1.04% 34 Jubilant Organosys Pharmaceuticals 741.94 1.02% Last 1 Year 12,000 11,618 (5.84%) 11,396 (9.18%)• Options available (for both plans) 35 Coal India Minerals/Mining 734.54 1.01% Last 3 Years 36,000 48,120 19.79% 44,332 14.00% • Growth 36 Sun Pharmaceuticals Industries Pharmaceuticals 707.80 0.97% Last 5 Years 60,000 82,421 12.66% 74,023 8.33% • Dividend 37 eClerx Services Software 706.66 0.97% - Payout Dividend Since Inception 1,34,000 6,24,159 25.59% 3,85,045 17.77% - Reinvest Dividend 38 ING Vysya Bank Banks 697.83 0.96% Start date of SIP 16th May, 2000 39 Divis Laboratories Pharmaceuticals 681.28 0.94%• Entry load: Nil 40 Crompton Greaves Industrial Capital Goods 668.42 0.92% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are 41 Cipla Pharmaceuticals 650.46 0.89% calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for • Exit load (both plans): Regular Plan - Growth Option. DSPBROF, which is benchmarked to the S&P CNX 42 United Phosphorus Pesticides 647.51 0.89% 500 Index, is not sponsored, endorsed, sold or promoted by India Index Services & Holding Period: 43 Hindustan Zinc Non - Ferrous Metals 624.97 0.86% products Limited (IISL). IISL is not responsible for any errors or omissions or the < 12 months: 1% 44 Emami Consumer Non Durables 624.61 0.86% results obtained from the use of such index and in no event shall IISL have any >= 12 months: Nil 45 CMC Hardware 573.30 0.79% liability to any party for any damages of whatsoever nature (including lost profits) resulted to such party due to purchase or sale or otherwise of DSPBROF marked 46 United Breweries Consumer Non Durables 545.07 0.75% to such index.*The SIP investment returns table assumes monthly investments of 47 Cummins India Industrial Products 535.92 0.74% ` 1,000 being invested since the Date of Allotment. The SIP returns are computed NAV AS ON 48 Suzlon Energy Industrial Capital Goods 513.62 0.70% on the assumption that the monthly installments were received across time periods from the start date of SIP. The CAGR is computed based on IRR since the 49 IndusInd Bank Banks 507.40 0.70%July 29, 2011 50 Power Finance Corporation Finance 488.94 0.67% SIP instalments are received at different intervals across the SIP period. XIRR calculates internal rate of return for a series of cash flows. The benchmark returns 51 Britannia Industries Consumer Non Durables 474.67 0.65% are computed on the assumption that the value of the benchmark index is the price Regular Plan 52 Arvind Textile Products 463.26 0.64% of one unit and “Since inception” returns are computed from the “Start date of SIP”. Growth - ` 85.189 Past performance may or may not be sustained in future and should not be usedDividend - ` 27.657 53 HCL Technologies Software 450.19 0.62% as a basis for comparison with other investments. 54 Power Grid Corporation of India Power 438.82 0.60%As there were no investors in the 55 KEC International Power 438.80 0.60% Sectoral AllocationInstitutional Plan, NAVs have not 56 Cairn India Oil 433.08 0.59%been shown. 57 Kotak Mahindra Bank Banks 427.98 0.59% BANKS 15.84% GAS 1.85% 58 Godrej Industries Chemicals 423.83 0.58% PHARMACEUTICALS 11.30% POwER 1.69% 59 Wyeth Pharmaceuticals 416.83 0.57% SOFTwARE 10.75% PESTICIDES 1.68% 60 Apollo Tyres Auto Ancillaries 415.21 0.57% CONSUMER NON DURABLES 9.40% FERROUS METALS 1.60% 61 Grasim Industries Textile Products 389.15 0.53% PETROLEUM PRODUCTS 7.47% TEXTILE PRODUCTS 1.17% 62 Rallis India Pesticides 370.91 0.51% TELECOM - SERVICES 5.36% HARDwARE 1.06% FINANCE 5.11% TRADING 1.04% 63 UTV Software Communications Media & Entertainment 367.76 0.50% CONSTRUCTION PROJECT 3.37% MINERALS/MINING 1.01% 64 Mahindra & Mahindra Financial Services Finance 366.59 0.50% INDUSTRIAL CAPITAL GOODS 3.24% INDUSTRIAL PRODUCTS 0.74% Cumulative value of securities with holdings less than 0.5% (as a %age OIL 3.05% CHEMICALS 0.58% 65 4,546.70 6.23% to net assets) MEDIA & ENTERTAINMENT 2.42% CONSTRUCTION 0.55% Total 70,067.66 96.16% NON - FERROUS METALS 2.16% RETAILING 0.29% AUTO ANCILLARIES 2.06% DEBT INSTRUMENTS 0.09% DERIVATIVES AUTO 2.02% INDEX DERIVATIVES 0.01% FERTILISERS 2.00% CASH & EQUIVALENT 1.09% 66 State Bank of India Aug 2011 Banks 1,019.98 1.40% 6
    • DSP BlackRock India T.I.G.E.R. Fund (The Infrastructure Growth and Economic Reforms Fund) Portfolio FUND MANAGER Anup MaheshwariSr. Name of Instrument Rating/Industry Market value % to Net Cash & Cash Equivalents Total work experience of 19 years. No. (` lakh) Assets Net Receivable/Payable 5,082.31 2.53% Managing this Scheme since Total 5,082.31 2.53% March 2008 EQUITY & EQUITY RELATED Grand Total 199,297.66 100.00% Rohit Singhania Listed / awaiting listing on the stock exchanges Notes: 1. Portfolio Turnover Ratio (Last 12 months): 0.63 times. 2. Total Total work experience of 11 years. 1 Larsen & Toubro Construction Project 7,371.93 3.70% Expense Ratio (F.Y. beginning to date): IP: 1.44% RP: 1.88% Since Inception Managing this Scheme since June 2 Reliance Industries Petroleum Products 7,305.68 3.67% Ratios: 1. Standard Deviation: 25.86% 2. Beta: 0.91 3. R-Squared: 93.21% 20103 ICICI Bank Banks 6,683.34 3.35% 4. Sharpe Ratio: 0.594 Bharti Airtel Telecom - Services 6,582.94 3.30%5 ING Vysya Bank Banks 6,523.34 3.27% INVESTMENT OBJECTIVE An open ended diversified equity 67 State Bank of India Indraprastha Gas Banks Gas 6,330.68 6,157.66 3.18% 3.09% Comparative performance Scheme, seeking to generate capital appreciation, from a portfolio 8 Cummins India Industrial Products 6,149.59 3.09% COMPOUNDED ANNUALISED RETURN that is substantially constituted PERIOD of equity securities and equity 9 Bharat Heavy Electricals Industrial Capital Goods 6,009.66 3.02% DSPBRITF (REGULAR PLAN) BSE 100^ related securities of corporates, 10 Sterlite Industries ( India ) Non - Ferrous Metals 5,452.47 2.74% Last 6 months (2.81%) (0.33%) which could benefit from structural 11 Havells India Consumer Durables 5,274.95 2.65% changes brought about by Last 1 Year (9.54%) (0.20%) continuing liberalization in economic 12 HDFC Bank Banks 4,759.49 2.39% Last 3 Years 6.15% 8.41% policies by the Government and/13 GAIL (India) Gas 4,628.59 2.32% or from continuing investments in 14 Grasim Industries Textile Products 4,543.26 2.28% Last 5 Years 12.67% 11.96% infrastructure, both by the public and 15 Idea Cellular Telecom - Services 4,282.54 2.15% private sector. Since Inception 22.78% 20.15% 16 Siemens Industrial Capital Goods 3,905.11 1.96% NAV / Index Value (July 29) ` 43.247 9,537.4117 Coal India Minerals/Mining 3,753.02 1.88%18 Tata Power Company Power 3,567.83 1.79% Date of allotment 11th June, 2004 ASSET ALLOCATION19 Mahindra & Mahindra Financial Services Finance 3,454.67 1.73% Equity and Equity related securities - 90% - 100%20 Bharat Electronics Industrial Capital Goods 3,395.86 1.70% SIP PERFORMANCE* Debt, Securitised Debt and Money 21 Oil & Natural Gas Corpn Oil 3,296.95 1.65% INVEST- DSPBRITF (REGULAR PLAN) BSE 100^ PERIOD market securities - 0% - 10% 22 Indian Oil Corporation Petroleum Products 3,209.87 1.61% MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) ADR, GDR and Foreign securities 23 IndusInd Bank Banks 3,129.48 1.57% - 0% - 25% Last 1 Year 12,000 10,962 (15.60%) 11,393 (9.22%)24 IL & FS Transportation Networks Transportation 3,043.12 1.53%25 Oil India Oil 3,041.71 1.53% Last 3 Years 36,000 41,257 9.06% 44,225 13.83%26 Cairn India Oil 3,023.99 1.52% Last 5 Years 60,000 69,600 5.87% 74,330 8.50% REDEMPTION27 KEC International Power 2,792.38 1.40% Since Inception 85,000 1,38,361 13.50% 1,35,735 12.98% PROCEEDS28 GlaxoSmithKline Pharmaceuticals Pharmaceuticals 2,791.88 1.40% Start date of SIP 11th June, 2004 Normally within 3 Business Days 29 Bajaj Electricals Consumer Durables 2,628.59 1.32% from acceptance of redemption 30 Engineers India Engineering 2,538.18 1.27% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns request. are calculated on ` 10/- invested at inception, viz. date of allotment. All returns 31 Tata Steel Ferrous Metals 2,506.78 1.26% are for Regular Plan - Growth Option.*The SIP investment returns table assumes 32 Bharat Petroleum Corpn. Petroleum Products 2,423.93 1.22% monthly investments of ` 1,000 being invested since the Date of Allotment. The FEATURES33 Jindal Steel & Power Ferrous Metals 2,182.98 1.10% SIP returns are computed on the assumption that the monthly installments were • Minimum investment and minimum 34 Torrent Power Power 2,095.96 1.05% received across time periods from the start date of SIP. The CAGR is computed additional purchase35 Power Grid Corporation of India Power 2,049.82 1.03% based on IRR since the SIP instalments are received at different intervals across - Regular Plan (RP): ` 5,000/- the SIP period. XIRR calculates internal rate of return for a series of cash flows. and ` 1,000/- thereafter. 36 AstraZeneca Pharma India Pharmaceuticals 2,034.66 1.02% The benchmark returns are computed on the assumption that the value of the - Institutional Plan (IP): ` 1 crore 37 Hindustan Petroleum Corporation Petroleum Products 2,028.11 1.02% benchmark index is the price of one unit and “Since inception” returns are 38 NHPC Power 2,026.58 1.02% computed from the “Start date of SIP”. Past performance may or may not be and ` 1,000/- thereafter.39 Adani Power Power 1,993.56 1.00% sustained in future and should not be used as a basis for comparison with other • Options available (for both plans): 40 Pantaloon Retail (India) Retailing 1,850.28 0.93% investments. • Growth 41 Gateway Distriparks Transportation 1,780.42 0.89% • Dividend 4243 Bosch Hindustan Zinc Auto Ancillaries Non - Ferrous Metals 1,772.23 1,748.35 0.89% 0.88% Sectoral Allocation - Payout Dividend - Reinvest Dividend44 Voltas Construction Project 1,690.23 0.85% BANKS 15.00% PHARMACEUTICALS 2.42% • Entry load: Nil45 NTPC Power 1,623.71 0.81% POwER 10.02% FERROUS METALS 2.36%46 Thermax Industrial Capital Goods 1,617.82 0.81% INDUSTRIAL CAPITAL GOODS 8.91% TEXTILE PRODUCTS 2.28% PETROLEUM PRODUCTS 7.52% MINERALS/MINING 2.24% • Exit load (both plans):47 Union Bank of India Banks 1,564.92 0.79% GAS 5.60% RETAILING 1.35% Holding Period:48 Bayer Cropscience Pesticides 1,511.07 0.76% TELECOM - SERVICES 5.45% ENGINEERING 1.27% < 12 months: 1%49 Hathway Cable & Datacom Media & Entertainment 1,361.22 0.68% CONSTRUCTION PROJECT 5.04% CEMENT 0.93% >= 12 months: Nil OIL 4.70% CONSTRUCTION 0.92%50 Crompton Greaves Industrial Capital Goods 1,231.93 0.62% CONSUMER DURABLES 3.97% AUTO ANCILLARIES 0.89%51 Jyoti Structures Power 1,183.19 0.59% NON - FERROUS METALS 3.62% PESTICIDES 0.76% TRANSPORTATION 3.49% MEDIA & ENTERTAINMENT 0.68%52 Spicejet Transportation 1,151.07 0.58% INDUSTRIAL PRODUCTS 3.38% AUTO 0.50% NAV AS ON53 GVK Power & Infrastructure Power 1,080.75 0.54%54 L&T Finance Holdings # Finance 1,055.99 0.53% FINANCE 3.02% CASH & EQUIVALENT 3.68% July 29, 201155 Sadbhav Engineering Construction 1,032.02 0.52% Regular Plan56 Century Textiles & Industries Cement 1,005.10 0.50% Growth - ` 43.24757 Ashok Leyland Auto 1,002.47 0.50% Dividend - ` 16.601 Cumulative value of securities with holdings 58 11,682.12 5.87% Institutional Plan less than 0.5% (as a %age to net assets) Growth - ` 12.421 Total 191,916.05 96.32% Dividend - ` 8.848 CBLO / Reverse Repo Investments 2,299.30 1.15% Total 2,299.30 1.15% 7
    • DSP BlackRock Technology.com FundFUND MANAGERApoorva Shah Portfolio Comparative performanceTotal work experience of 24 years. Sr. Name of Instrument Rating/Industry Market value % to Net COMPOUNDED ANNUALISED RETURNManaging this Scheme since No. (` lakh) Assets PERIODApril 2006 DSPBRTF (REGULAR PLAN) BSE TECk^ EQUITY & EQUITY RELATED Last 6 months (3.87%) (2.43%)INVESTMENT OBJECTIVE Listed / awaiting listing on the stock exchanges Last 1 Year (4.42%) 7.14% An Open Ended growth Scheme, 1 Infosys Software 1,766.47 29.34%seeking to generate long term Last 3 Years 9.44% 6.69% 2 Tata Consultancy Services Software 969.43 16.10%capital appreciation, and whose Last 5 Years 14.94% 6.89% secondary objective is income 3 HCL Technologies Software 372.58 6.19%generation and the distribution of 4 CMC Hardware 332.22 5.52% Since Inception 10.89% 4.72% dividend from a portfolio constituted 5 NIIT Technologies Software 289.74 4.81% NAV/Index Value (July 29) ` 31.843 3,642.86of equity and equity related securities 6 Bharti Airtel Telecom - Services 275.56 4.58% Date of allotment 16th May, 2000concentrating on the investment focus of the Scheme. 7 Take Solutions Software 232.90 3.87% 8 Entertainment Network (India) Media & Entertainment 210.56 3.50% SIP PERFORMANCE* 9 Wipro Software 210.29 3.49% INVEST- DSPBRTF (REGULAR PLAN) BSE TECk^ASSET ALLOCATION 10 KPIT Cummins Infosystems Software 179.53 2.98% PERIOD MENT (`)Equity & Equity related securities: VALUE (`) CAGR (%) VALUE (`) CAGR (%) 11 Oracle Financial Services Software Software 173.45 2.88% Last 1 Year 12,000 11,582 (6.38%) 11,828 (2.64%)80% - 100% Fixed Income securities (Debt* & 12 Idea Cellular Telecom - Services 168.73 2.80% Last 3 Years 36,000 47,356 18.65% 45,382 15.64%Money market securities) : 13 Tulip Telecom Telecom - Services 124.84 2.07% Last 5 Years 60,000 77,932 10.40% 70,856 6.59%0% - 20%. 14 Info Edge (India) Software 104.40 1.73%* Debt securities/instruments are 15 HT Media Media & Entertainment 86.31 1.43% Since Inception 1,34,000 4,60,429 20.67% 2,97,400 13.55%deemed to include securitised debts 16 Allied Digital Services Hardware 82.15 1.36% Start date of SIP 16th May, 2000 17 Hindustan Media Ventures Media & Entertainment 74.15 1.23% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are 18 eClerx Services Software 63.93 1.06%REDEMPTION calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for 19 UTV Software Communications Media & Entertainment 62.87 1.04% Regular Plan - Growth Option. *The SIP investment returns table assumes monthly PROCEEDS 20 Hathway Cable & Datacom Media & Entertainment 42.06 0.70% investments of ` 1,000 being invested since the Date of Allotment. The SIP returns Normally within 3 Business Days are computed on the assumption that the monthly installments were received 21 NIIT Software 32.87 0.55% across time periods from the start date of SIP. The CAGR is computed based on IRR from acceptance of redemption request. 22 Satyam Computer Services Software 32.70 0.54% since the SIP instalments are received at different intervals across the SIP period. Cumulative value of securities with holdings less than 0.5% (as a XIRR calculates internal rate of return for a series of cash flows. The benchmark 23 48.99 0.81% returns are computed on the assumption that the value of the benchmark index is %age to net assets)FEATURES Total 5,936.71 98.58% the price of one unit and “Since inception” returns are computed from the “Start • Minimum investment and minimum date of SIP”. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. additional purchase CBLO / Reverse Repo Investments 69.97 1.16% - Regular Plan (RP): ` 5,000/- Total 69.97 1.16% and ` 1,000/- thereafter. - Institutional Plan (IP): ` 1 crore and ` 1,000/- thereafter. Cash & Cash Equivalents Sectoral Allocation • Options available (for both plans) Net Receivable/Payable 13.97 0.26% SOFTwARE 73.92% HARDwARE 6.88% Total 13.97 0.26% TELECOM - SERVICES 9.45% ISP 0.00% • Growth Grand Total 6,020.65 100.00% MEDIA & ENTERTAINMENT 8.33% CASH & EQUIVALENT 1.42% • Dividend - Payout Dividend Notes: 1. Portfolio Turnover Ratio (Last 12 months): 0.61 times. 2. Total Expense - Reinvest Dividend Ratio (F.Y. beginning to date): RP: 2.48% Since Inception Ratios: 1. Standard • Entry load: Nil Deviation: 30.55% 2. Beta: 0.79 3. R-Squared: 82.18% 4. Sharpe Ratio: 0.11• Exit load (both plans): Holding Period: < 12 months: 1% >= 12 months: NilNAV AS ONJuly 29, 2011Regular PlanGrowth - ` 31.843Dividend - ` 23.238As there were no investors in the Institutional Plan, NAVs have not been shown. 8
    • DSP BlackRock Small and Mid Cap FundPortfolio FUND MANAGER Apoorva Shah CBLO / Reverse Repo Investments 2,234.33 1.73% Total work experience of 24 years. Sr. Name of Instrument Rating/Industry Market value % to Net Total 2,234.33 1.73% Managing this Scheme since No. (` lakh) Assets March 2008 EQUITY & EQUITY RELATED Cash & Cash Equivalents Anup Maheshwari Listed / awaiting listing on the stock exchanges Net Receivable/Payable 991.80 0.77% Total work experience of 19 years. 1 Trent Retailing 4,796.51 3.70% Total 991.80 0.77% Managing this Scheme since 2 EID Parry India Consumer Non Durables 4,539.41 3.51% Grand Total 129,472.21 100.00% March 2008 3 Hindustan Petroleum Corporation Petroleum Products 4,017.96 3.10% Notes: 1. Classification of % of holdings based on Market Capitalisation: Large- 4 Gujarat Mineral Development Minerals/Mining 3,958.48 3.06% Cap 4.36%, Mid-Cap 34.13%, Small-Cap 25.13%, Micro-Cap 33.38% 2. Portfolio INVESTMENT OBJECTIVE Corporation Turnover Ratio (Last 12 months): 1.15 times. 3. Total Expense Ratio (F.Y. beginning An Open ended equity growth scheme, 5 Chambal Fertilizers & Chemicals Fertilisers 3,687.39 2.85% to date): RP: 1.98%. Since Inception Ratios: 1. Standard Deviation: 23.66% primarily seeking to generate long 6 Godrej Properties Construction 3,371.12 2.60% 2. Beta: 0.81 3. R-Squared: 90.61% 4. Sharpe Ratio: 0.26 term capital appreciation from a 7 Bayer Cropscience Pesticides 3,325.72 2.57% portfolio substantially constituted of equity and equity related securities, 8 9 Tata Chemicals Arvind Fertilisers Textile Products 3,224.93 3,200.31 2.49% 2.47% Comparative performance which are not part of top 100 stocks by market capitalization. From time 10 Biocon Pharmaceuticals 3,101.49 2.40% COMPOUNDED ANNUALISED RETURN to time, the Investment Manager 11 Info Edge (India) Software 3,097.70 2.39% will also seek participation in other PERIOD equity and equity related securities 12 Bharat Forge Industrial Products 2,920.60 2.26% DSPBRSMF (REGULAR PLAN) CNX MID CAP^ 13 Godrej Industries Chemicals 2,828.55 2.18% to achieve optimal portfolio Last 6 months 7.71% 1.20% construction. 14 CMC Hardware 2,640.62 2.04% 15 Apollo Tyres Auto Ancillaries 2,603.28 2.01% Last 1 year 5.18% (4.74%) 16 Eicher Motors Auto 2,473.69 1.91% ASSET ALLOCATION 17 Bombay Dyeing & Mfg Co. Textiles - Cotton 2,442.44 1.89% Last 3 Year 22.59% 13.16% Equity and equity related securities 18 KPIT Cummins Infosystems Software 2,398.46 1.85% Since Inception 13.55% 10.44% which are: 19 Areva T&D India Industrial Capital Goods 2,348.72 1.81% 1. (A) not part of top 100 stocks by NAV / Index Value (July 29) ` 18.186 8,017.35 20 Bajaj Finserv Finance 2,342.47 1.81% market cap: 65% - 100%, 21 KEC International Power 2,325.14 1.80% Date of allotment 14th Nov. 2006 (B) in the top 100 stocks by market 22 Gruh Finance Finance 2,286.50 1.77% cap: 0% - 35%; 23 SRF Auto Ancillaries 2,220.37 1.71% SIP PERFORMANCE* 24 TTK Prestige Consumer Non Durables 2,105.24 1.63% Of 1(A) & 1(B), investments in DSPBRSMF (REGULAR ADRs, GDRs & foreign securities: 25 Gujarat Pipavav Port Transportation 2,083.45 1.61% INVEST- CNX MID CAP^ PERIOD PLAN) 0% - 25%; 26 ING Vysya Bank Banks 2,035.27 1.57% MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) 27 Lakshmi Machine Works Industrial Capital Goods 1,970.11 1.52% 2. Debt and Money Market 28 Kajaria Ceramics Construction 1,928.26 1.49% Last 1 year 12,000 12,117 1.81% 11,385 (9.35%) Securities: 0% - 10%. 29 Tata Coffee Consumer Non Durables 1,903.22 1.47% Last 3 Year 36,000 56,463 31.54% 48,356 20.14% 30 Tata Global Beverages Consumer Non Durables 1,902.90 1.47% Since Inception 56,000 88,222 19.63% 74,821 12.40% 31 Zuari Industries Fertilisers 1,898.88 1.47% Start date of SIP 14th Nov. 2006 REDEMPTION 32 Alstom Projects India Industrial Capital Goods 1,863.59 1.44% PROCEEDS 33 Redington (India) Hardware 1,774.53 1.37% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are calculated on ` 10/- invested at inception, viz. date of allotment. All returns are Normally within 3 Business Days 34 Suzlon Energy Industrial Capital Goods 1,759.91 1.36% for Growth Option. DSPBRSMF, which is benchmarked to the CNX Midcap Index, from acceptance of redemption 35 Torrent Pharmaceuticals Pharmaceuticals 1,752.80 1.35% is not sponsored, endorsed, sold or promoted by India Index Services & products request. 36 GlaxoSmithKline Consumer Healthcare Consumer Non Durables 1,737.33 1.34% Limited (IISL). IISL is not responsible for any errors or omissions or the results 37 Praj Industries Industrial Capital Goods 1,735.85 1.34% obtained from the use of such index and in no event shall IISL have any liability to any party for any damages of whatsoever nature (including lost profits)resulted to 38 NIIT Software 1,725.92 1.33% such party due to purchase or sale or otherwise of DSPBRSMF marked to such FEATURES 39 Bharat Electronics Industrial Capital Goods 1,625.41 1.26% index. *The SIP investment returns table assumes monthly investments of ` 1,000 • Minimum investment and minimum 40 Sintex Industries Industrial Products 1,589.08 1.23% being invested since the Date of Allotment. The SIP returns are computed on the additional purchase 41 Thermax Industrial Capital Goods 1,485.50 1.15% assumption that the monthly installments were received across time periods from - Regular Plan (RP): ` 5,000/- the start date of SIP. The CAGR is computed based on IRR since the SIP instalments 42 Fresenius Kabi Oncology Pharmaceuticals 1,450.55 1.12% are received at different intervals across the SIP period. XIRR calculates internal and ` 1,000/- thereafter. 43 Radico Khaitan Consumer Non Durables 1,313.99 1.01% rate of return for a series of cash flows. The benchmark returns are computed - Institutional Plan (IP): ` 1 crore 44 Bajaj Finance Finance 1,312.63 1.01% on the assumption that the value of the benchmark index is the price of one unit and “Since inception” returns are computed from the “Start date of SIP”. Past and ` 1,000/- thereafter. 45 Vardhman Textiles Textiles - Cotton 1,169.21 0.90% performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. • Options available (for both plans): 46 Unichem Laboratories Pharmaceuticals 1,159.14 0.90% 47 Titagarh Wagons Industrial Capital Goods 1,153.91 0.89% • Growth 48 49 Tecpro Systems Mcleod Russel India Industrial Capital Goods Consumer Non Durables 1,132.52 1,124.47 0.87% 0.87% Sectoral Allocation • Dividend - Payout Dividend - Reinvest Dividend 50 Nagarjuna Construction Co. Construction Project 1,072.97 0.83% INDUSTRIAL CAPITAL GOODS 12.15% MINERALS/MINING 3.06% 51 Monsanto India Pesticides 1,058.33 0.82% CONSUMER NON DURABLES 11.30% TEXTILES - COTTON 2.79% • Entry load: Nil 52 Pfizer Pharmaceuticals 1,051.10 0.81% FERTILISERS 6.81% TEXTILE PRODUCTS 2.47% 53 Gujarat State Petronet Gas 1,035.05 0.80% PHARMACEUTICALS 6.58% POwER 2.32% • Exit load (both plans): 54 IL & FS Transportation Networks Transportation 1,003.72 0.78% FINANCE 5.76% CHEMICALS 2.18% Holding Period: 55 Fortis Healthcare Healthcare Services 978.03 0.76% SOFTwARE 5.57% AUTO 1.91% < 12 months: 1% RETAILING 5.35% BANKS 1.57% >= 12 months: Nil 56 Jet Airways (India) Transportation 915.40 0.71% CONSTRUCTION 4.09% CONSTRUCTION PROJECT 0.83% 57 SKS Microfinance Finance 910.47 0.70% AUTO ANCILLARIES 3.72% GAS 0.80% 58 CESC Power 675.30 0.52% INDUSTRIAL PRODUCTS 3.54% HEALTHCARE SERVICES 0.76% 59 TRF Industrial Capital Goods 660.71 0.51% HARDwARE PESTICIDES 3.41% 3.39% FERROUS METALS 0.51% NAV AS ON 60 Monnet Ispat Ferrous Metals 642.10 0.50% CONSUMER DURABLES 0.27% Cumulative value of securities with PETROLEUM PRODUCTS 3.10% MEDIA & ENTERTAINMENT 0.16% July 29, 2011 61 holdings less than 0.5% (as a %age to 1,545.83 1.18% TRANSPORTATION 3.10% CASH & EQUIVALENT 2.50% Regular Plan net assets) Growth - ` 18.186 Total 124,394.57 96.07% Dividend - ` 15.268 PREFERENCE SHARES Listed / awaiting listing on the stock exchanges As there were no investors in the Institutional Plan, NAVs have not 62 Trent Series B - CCPS Retailing 1,070.88 0.83% been shown. 63 Trent Series A - CCPS Retailing 780.63 0.60% Total 1,851.51 1.43% 9
    • DSP BlackRock Tax Saver FundFUND MANAGERAnup Maheshwari PortfolioTotal work experience of 19 years. Sr. Name of Instrument Rating/Industry Market value % to Net CBLO / Reverse Repo Investments 1,979.44 2.45%Managing this Scheme since No. (` lakh) Assets Total 1,979.44 2.45%January 2007 EQUITY & EQUITY RELATED Cash & Cash EquivalentsMayana Sobti Rajani Listed / awaiting listing on the stock exchanges Net Receivable/Payable 442.61 0.55%Total work experience of 8 years. 1 ITC Consumer Non Durables 3,822.61 4.72% Total 442.61 0.55%Managing this Scheme since 2 HDFC Bank Banks 3,304.93 4.08% Grand Total 80,944.81 100.00%June 2009 (till July 04, 2011) 3 Tata Consultancy Services Software 3,025.70 3.74% 4 ICICI Bank Banks 2,864.66 3.54% Note: 1. Portfolio Turnover Ratio (Last 12 months): 0.64 times. 2. Total Expense 5 Reliance Industries Petroleum Products 2,863.19 3.54% Ratio (F.Y. beginning to date): 2.09% Since Inception Ratios: 1. Standard Deviation: INVESTMENT OBJECTIVE 6 Infosys Software 2,627.44 3.25% 25.41 % 2. Beta: 0.83 3. R-Squared: 92.48% 4. Sharpe Ratio: 0.17An Open ended equity linked savings 7 Cadila Healthcare Pharmaceuticals 2,206.10 2.73%scheme, whose primary investment objective is to seek to generate 8 9 Larsen & Toubro Tata Steel Construction Project Ferrous Metals 2,006.99 1,872.95 2.48% 2.31% Comparative performancemedium to long-term capital 10 Sterlite Industries ( India ) Non - Ferrous Metals 1,833.05 2.26% COMPOUNDED ANNUALISED RETURNappreciation from a diversified 11 State Bank of India Banks 1,812.88 2.24% PERIODportfolio that is substantially DSPBRTSF S&P CNX 500^ 12 Nestle India Consumer Non Durables 1,802.51 2.23%constituted of equity and equity 13 IPCA Laboratories Pharmaceuticals 1,797.33 2.22% Last 6 months 0.23% (0.01%)related securities of corporates, 14 CRISIL Finance 1,776.41 2.19% Last 1 year (2.50%) (1.14%)and to enable investors avail of a 15 Kajaria Ceramics Construction 1,705.70 2.11% Last 3 years 12.21% 8.59% deduction from total income, as 16 Karur Vysya Bank Banks 1,603.44 1.98%permitted under the Income Tax Since Inception 11.86% 5.88% 17 Siemens Industrial Capital Goods 1,592.16 1.97%Act,1961 from time to time. NAV / Index Value (July 29) ` 16.612 4,424.05 18 Oil India Oil 1,572.15 1.94% 19 Bank of Baroda Banks 1,562.44 1.93% Date of allotment 18th Jan. 2007 20 Bharat Petroleum Corpn. Petroleum Products 1,472.22 1.82%ASSET ALLOCATION 21 Bajaj Electricals Consumer Durables 1,399.49 1.73% SIP PERFORMANCE*Equity and equity related securities: Procter & Gamble Hygiene and Health INVEST- DSPBRTSF S&P CNX 500^80% to 100% 22 Consumer Non Durables 1,385.23 1.71% PERIOD Care MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) 23 Bharti Airtel Telecom - Services 1,263.20 1.56%Of above, investments in ADRs, Last 1 year 12,000 11,441 (8.50%) 11,396 (9.18%) 24 Dr. Reddys Laboratories Pharmaceuticals 1,260.26 1.56%GDRs and foreign equity securities: 25 Jyothy Laboratories Consumer Non Durables 1,239.68 1.53% Last 3 year 36,000 46,956 18.04% 44,332 14.00%0% to 20% 26 Gujarat State Petronet Gas 1,228.84 1.52% Since Inception 54,000 71,073 12.20% 65,171 8.30%Debt, securitised debt* and money 27 Axis Bank Banks 1,227.29 1.52% Start date of SIP 18th Jan. 2007market securities: 0% to 20% 28 Oil & Natural Gas Corpn Oil 1,182.15 1.46% 29 Lupin Pharmaceuticals 1,100.43 1.36% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are 30 Jindal Steel & Power Ferrous Metals 1,082.71 1.34% calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for * Exposure to securitised debt will Growth Option. DSPBRTSF, which is benchmarked to the S&P CNX 500 Index, is not not exceed 10% of the net assets of 31 CMC Hardware 1,066.83 1.32% sponsored, endorsed, sold or promoted by India Index Services & products Limited the Scheme. 32 Voltas Construction Project 1,056.92 1.31% (IISL). IISL is not responsible for any errors or omissions or the results obtained 33 HCL Technologies Software 1,048.86 1.30% from the use of such index and in no event shall IISL have any liability to any party 34 Biocon Pharmaceuticals 1,030.93 1.27% for any damages of whatsoever nature (including lost profits)resulted to such party REDEMPTION 35 Tata Motors - A Class Auto 997.23 1.23% due to purchase or sale or otherwise of DSPBRTSF marked to such index. *The SIP 36 Prestige Estate Project Construction 949.67 1.17% investment returns table assumes monthly investments of ` 1,000 being invested PROCEEDS 37 Hindustan Petroleum Corporation Petroleum Products 892.44 1.10% since the Date of Allotment. The SIP returns are computed on the assumption that Normally within 3 Business Days the monthly installments were received across time periods from the start date of from acceptance of redemption Housing Development Finance SIP. The CAGR is computed based on IRR since the SIP instalments are received 38 Finance 889.50 1.10%request (subject to completion of Corporation at different intervals across the SIP period. XIRR calculates internal rate of return the 3 year Lock-in Period). 39 ING Vysya Bank Banks 851.04 1.05% for a series of cash flows. The benchmark returns are computed on the assumption 40 Suzlon Energy Industrial Capital Goods 832.70 1.03% that the value of the benchmark index is the price of one unit and “Since inception” 41 Emami Consumer Non Durables 821.48 1.01% returns are computed from the “Start date of SIP”. Past performance may or may not be sustained in future and should not be used as a basis for comparison withFEATURES 42 Yes Bank Banks 812.37 1.00% other investments.• Repurchase of Units only after 43 Tilaknagar Industries Consumer Non Durables 783.25 0.97% completion of 3 year lock-in period 44 NTPC Power 776.08 0.96% 45 Jubilant Organosys Pharmaceuticals 761.36 0.94%• Minimum investment ` 500/-• Minimum additional purchase 46 Crompton Greaves Industrial Capital Goods 722.43 0.89% Sectoral Allocation ` 500/- 47 Cipla Pharmaceuticals 706.83 0.87% 48 Zuari Industries Fertilisers 703.19 0.87% BANKS 17.83% HARDwARE 1.65%• Options available: CONSUMER NON DURABLES 13.36% TELECOM - SERVICES 1.56% • Growth 49 India Cements Cement 633.99 0.78% PHARMACEUTICALS 11.37% AUTO 1.23% • Dividend 50 Power Finance Corporation Finance 546.24 0.67% SOFTwARE 8.29% POwER 0.96% - Payout Dividend 51 Adhunik Metaliks Ferrous Metals 512.40 0.63% PETROLEUM PRODUCTS 6.46% FERTILISERS 0.87% - Reinvest Dividend 52 Britannia Industries Consumer Non Durables 490.94 0.61% FINANCE 4.98% CEMENT 0.78% Infrastructure Development Finance INDUSTRIAL CAPITAL GOODS 4.36% TRANSPORTATION 0.53%• Entry load : Nil 53 Finance 441.41 0.55% Company FERROUS METALS 4.28% MINERALS/MINING 0.53% 54 Gateway Distriparks Transportation 428.90 0.53% CONSTRUCTION PROJECT 3.79% RETAILING 0.39%• Exit load: N.A. 55 Coal India Minerals/Mining 425.39 0.53% CONSTRUCTION 3.54% TEXTILE PRODUCTS 0.37% Cumulative value of securities with OIL 3.40% CHEMICALS 0.24% 56 holdings less than 0.5% (as a %age to 3,780.32 4.66% NON - FERROUS METALS 2.26% MEDIA & ENTERTAINMENT 0.21%NAV AS ON net assets) GAS 1.95% DEBT INSTRUMENTS 0.08% CONSUMER DURABLES 1.73% CASH & EQUIVALENT 3.00%July 29, 2011 Total 78,456.88 96.92%Growth - ` 16.612 BONDS & NCDsDividend - ` 11.853 Listed / awaiting listing on the stock exchanges 57 Britannia Industries AAA 65.88 0.08% Total 65.88 0.08% 10
    • DSP BlackRock Micro Cap FundPortfolio Comparative performance FUND MANAGER Apoorva Shah Total work experience of 24 years. Sr. Name of Instrument Rating/Industry Market value % to Net COMPOUNDED ANNUALISED RETURN Managing this Scheme since No. (` lakh) Assets PERIOD March 2008 DSPBRMCF - REGULAR PLAN BSE SMALL CAP^ Vinit Sambre EQUITY & EQUITY RELATED Total work experience of 12 years. Last 6 months 5.26% (2.03%) Managing this Scheme since June Listed / awaiting listing on the stock exchanges Last 1 Year (4.15%) (11.16%) 2010. 1 Rallis India Pesticides 2,887.09 5.97% 2 Indoco Remedies Pharmaceuticals 2,210.45 4.57% Last 3 Year 20.11% 6.24% Mehul Jani (Dedicated fund manager for overseas investment) 3 eClerx Services Software 2,182.57 4.51% Since Inception 11.60% 3.11% Total work experience of 7 years. 4 Chambal Fertilizers & Chemicals Fertilisers 2,054.98 4.25% NAV / Index Value (July 29) ` 15.727 8,305.58 Managing this Scheme since June 5 Kennametal India Ferrous Metals 1,750.78 3.62% 2010. Date of allotment 14th June, 2007 6 TTK Prestige Consumer Non Durables 1,647.84 3.41% 7 Karur Vysya Bank Banks 1,587.88 3.28% INVESTMENT OBJECTIVE SIP PERFORMANCE* An open ended diversified equity 8 Sadbhav Engineering Construction 1,528.11 3.16% growth scheme seeking to generate 9 KPIT Cummins Infosystems Software 1,497.01 3.09% DSPBRMCF - REGULAR long term capital appreciation from INVEST- BSE SMALL CAP^ 10 APL Apollo Tubes Ferrous Metals 1,370.65 2.83% PERIOD PLAN a portfolio that is substantially MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) constituted of equity and equity 11 Timken India Industrial Products 1,285.93 2.66% related securities, which are not 12 Bayer Cropscience Pesticides 1,271.33 2.63% Last 1 Year 12,000 11,739 (4.00%) 10,978 (15.36%) part of the top 300 companies by 13 Bajaj Finance Finance 1,244.89 2.57% Last 3 Years 36,000 58,011 33.69% 46,846 17.93% market capitalisation. From time to time, the Investment Manager 14 Tecpro Systems Industrial Capital Goods 1,156.67 2.39% Since Inception 49,000 76,211 22.07% 59,170 9.22% will also seek participation in other 15 Take Solutions Software 993.69 2.05% equity and equity related securities Start date of SIP 14th June, 2007 t o a c h i e v e o p t i m a l p o r t f o l i o 16 Supreme Industries Industrial Products 936.19 1.94% construction. 17 Zuari Industries Fertilisers 929.48 1.92% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are calculated on ` 10/- invested at inception, viz. date of allotment. All returns 18 IPCA Laboratories Pharmaceuticals 926.09 1.91% are for Regular Plan - Growth Option. *The SIP investment returns table assumes ASSET ALLOCATION 19 Unichem Laboratories Pharmaceuticals 836.01 1.73% monthly investments of ` 1,000 being invested since the Date of Allotment. The 1 (a) Equity and equity related 20 K.P.R. Mill Textile Products 833.40 1.72% SIP returns are computed on the assumption that the monthly installments were securities which are not part of 21 Hindustan Dorr-Oliver Industrial Capital Goods 829.15 1.71% received across time periods from the start date of SIP. The CAGR is computed the top 300 stocks by market based on IRR since the SIP instalments are received at different intervals across capitalization: 65% - 100%, 22 JMC Projects (India) Construction 811.78 1.68% 1 (b) Equity and equity related 23 Tata Elxsi (India) Software 772.12 1.60% the SIP period. XIRR calculates internal rate of return for a series of cash flows. The benchmark returns are computed on the assumption that the value of the securities which are in the top 300 24 Steel Strips Wheels Auto Ancillaries 769.56 1.59% benchmark index is the price of one unit and “Since inception” returns are stocks by market capitalization: 25 Career Point Infosystems Software 764.89 1.58% computed from the “Start date of SIP”. Past performance may or may not be 0% - 35% 26 Vivimed Labs Chemicals 737.69 1.52% sustained in future and should not be used as a basis for comparison with other of 1 (a) & (b) above, investments in investments. ADRs, GDRs and foreign securities: Cholamandalam Investment and 0% - 25% 27 Finance 731.06 1.51% Finance Company 2. Debt* and Money Market 28 Titagarh Wagons Industrial Capital Goods 715.55 1.48% Securities: 0% - 35% 29 30 Alstom Projects India Suzlon Energy Industrial Capital Goods Industrial Capital Goods 679.52 659.99 1.40% 1.36% Sectoral Allocation *Debt Instruments may include securitised debts up to 10% of the net assets of the Scheme. 31 Navneet Publications India Consumer Non Durables 611.94 1.26% SOFTwARE 13.80% CONSTRUCTION 4.84% 32 City Union Bank Banks 609.98 1.26% INDUSTRIAL CAPITAL GOODS 10.91% BANKS 4.54% 33 Jubilant Organosys Pharmaceuticals 606.35 1.25% PHARMACEUTICALS 10.48% TEXTILE PRODUCTS 3.58% REDEMPTION 34 Nilkamal Industrial Products 591.17 1.22% PESTICIDES 9.29% AUTO ANCILLARIES 2.55% PROCEEDS 35 Kirloskar Pneumatic Co. Industrial Products 565.39 1.17% INDUSTRIAL PRODUCTS 6.99% CHEMICALS 2.25% Normally within 10 Business Days FERROUS METALS 6.45% POwER 1.15% 36 PTC India Power 556.92 1.15% from acceptance of redemption FERTILISERS 6.17% TEXTILES - COTTON 0.84% 37 Bharat Bijlee Industrial Capital Goods 556.19 1.15% CONSUMER NON DURABLES 6.02% CASH & EQUIVALENT 4.17% request during the specified 38 Kewal Kiran Clothing Textile Products 551.51 1.14% FINANCE 5.97% redemption period. 39 Zydus Wellness Consumer Non Durables 533.38 1.10% 40 Binani Industries Finance 521.16 1.08% FEATURES 41 Wyeth Pharmaceuticals 492.97 1.02% • Minimum investment and minimum 42 NIIT Technologies Software 467.91 0.97% additional purchase - Regular Plan (RP): ` 5,000/- 43 Rane (Madras) Auto Ancillaries 465.16 0.96% 44 Sanghvi Movers Industrial Capital Goods 464.07 0.96% and ` 1,000/- thereafter. - Institutional Plan (IP): ` 1 45 Bombay Dyeing & Mfg Co. Textiles - Cotton 407.10 0.84% crore and ` 1,000/- thereafter. 46 GIC Housing Finance Finance 392.88 0.81% • Options available (for both plans): 47 India Glycols Chemicals 353.03 0.73% • Growth 48 Lovable Lingerie Textile Products 349.65 0.72% • Dividend Cumulative value of securities with - Payout Dividend 49 holdings less than 0.5% (as a %age to 676.42 1.40% - Reinvest Dividend net assets) • Entry load: Nil Total 46,375.52 95.83% • Exit load: (for both plans) CBLO / Reverse Repo Investments 1,579.56 3.26% Holding period <24 months: 1% Holding period >=24 months: Nil Total 1,579.56 3.26% Cash & Cash Equivalents Net Receivable/Payable 423.60 0.91% NAV AS ON Total 423.60 0.91% July 29, 2011 Grand Total 48,378.68 100.00%Note: 1. Portfolio Turnover Ratio (Last 12 months): 0.75 times. 2. Total Expense Regular PlanRatio (F.Y. beginning to date): RP: 2.25% 3. Classification of % of holdings based Growth - ` 15.727on Market Capitalisation: Large-Cap 4.36% Mid-Cap 34.13%, Small-Cap 25.13%, Dividend - ` 9.551Micro-Cap 65.81% Since Inception Ratios: 1. Standard Deviation: 45.49% 2. Beta: 0.86 As there were no investors in the3. R-Squared: 93.64% 4. Sharpe Ratio: 0.09 Institutional Plan, NAVs have not been shown. 11
    • CRISIL MUTUAL FUND RANK 1* DSP BlackRock Natural Resources and New Energy FundFUND MANAGERAnup Maheshwari Portfolio Comparative performanceTotal work experience of 19 years. Managing this Scheme since Sr. Name of Instrument Rating/Industry Market value (` % to Net COMPOUNDED ANNUALISED RETURNApril 2008 No. lakh) Assets PERIOD DSPBRNRNEF COMPOSITEMehul Jani (Dedicated fund - REGULAR PLAN BENCHMARK^manager for overseas investment) EQUITY & EQUITY RELATED Last 6 months 6.86% (6.98%)Total work experience of 7 years. Listed / awaiting listing on the stock exchangesManaging this Scheme since June 1 Castrol India Petroleum Products 1,366.76 9.44% Last 1 year 8.14% 0.94% 2010. 2 Reliance Industries Petroleum Products 728.65 5.03% Last 3 years 15.31% 0.33% 3 Gujarat Fluorochemicals Gas 671.38 4.64% Since Inception 13.16% (3.60%) 4 SRF Auto Ancillaries 616.19 4.26%INVESTMENT OBJECTIVE 5 Petronet LNG Gas 595.62 4.11% NAV / Index Value (July 29) ` 14.964 88.73An Open ended equity growth Scheme 6 Hindustan Petroleum Corporation Petroleum Products 591.97 4.09%seeking to generate long term capital Date of allotment 25th April, 2008appreciation and provide long term growth 7 Bharat Petroleum Corpn. Petroleum Products 576.28 3.98%opportunities by investing in equity and 8 Gujarat Gas Company Gas 521.88 3.61%equity related securities of companies SIP PERFORMANCE*domiciled in India whose pre-dominant 9 Oil India Oil 477.34 3.30%economic activity is in the: (a) discovery, 10 Sterlite Industries ( India ) Non - Ferrous Metals 473.57 3.27% DSPBRNRNEF COMPOSITE INVEST- - REGULAR PLAN BENCHMARK^development, production, or distribution 11 Indraprastha Gas Gas 461.74 3.19% PERIODof natural resources, viz., energy, mining MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%)etc; (b) alternative energy and energy 12 Gujarat State Fertilizers & Chemicals Fertilisers 430.66 2.98%technology sectors, with emphasis given 13 GAIL (India) Gas 415.22 2.87% Last 1 year 12,000 12,221 3.43% 12,894 14.09% to renewable energy, automotive and on- 14 EID Parry India Consumer Non Durables 408.10 2.82%site power generation, energy storage Last 3 years 36,000 50,042 22.61% 43,226 12.25%and enabling energy technologies. The 15 Chambal Fertilizers & Chemicals Fertilisers 391.72 2.71%Scheme will also invest a certain portion Since Inception 39,000 54,484 21.07% 46,026 10.19% 16 Jindal Steel & Power Ferrous Metals 375.76 2.60%of its corpus in the equity and equity 17 Hindustan Zinc Non - Ferrous Metals 347.62 2.40% Start date of SIP 25th April, 2008related securities of companies domiciled overseas, which are principally engaged 18 Tata Steel Ferrous Metals 319.82 2.21%in the discovery, development, production Returns < 1 year are absolute returns. ^Composite Benchmark = 30% BSE Metals 19 Coromandel International Fertilisers 313.25 2.16%or distribution of natural resources and + 35% BSE Oil & Gas + 35% MSCI World Energy Index (Net & Expressed in INR; alternative energy and/or the units/shares Gujarat Mineral Development Normalised Values). “Since inception” returns are calculated on ` 10/- invested 20 Minerals/Mining 313.22 2.16%of BlackRock Global Funds – New Energy Corporation at inception, viz. date of allotment. All returns are for Growth Option. *The SIP Fund, BlackRock Global Funds – World 21 Coal India Minerals/Mining 305.27 2.11%Energy Fund and similar other overseas investment returns table assumes monthly investments of ` 1,000 being invested mutual fund schemes. 22 Phillips Carbon Black Auto Ancillaries 302.84 2.09% since the Date of Allotment. The SIP returns are computed on the assumption that 23 Indian Oil Corporation Petroleum Products 288.39 1.99% the monthly installments were received across time periods from the start date of 24 Rallis India Pesticides 257.70 1.78% SIP. The CAGR is computed based on IRR since the SIP instalments are received at ASSET ALLOCATION 25 Suzlon Energy Industrial Capital Goods 242.74 1.68% different intervals across the SIP period. XIRR calculates internal rate of return for 1. Equity and Equity related Securities of companies domiciled in India, and 26 Gujarat State Petronet Gas 231.16 1.60% a series of cash flows. The benchmark returns are computed on the assumption principally engaged in the discovery, 27 Tata Chemicals Fertilisers 214.66 1.48% that the value of the benchmark index is the price of one unit and “Since inception” development, production or distribution returns are computed from the “Start date of SIP”. Past performance may or mayof Natural Resources and Alternative 28 Hindalco Industries Non - Ferrous Metals 181.39 1.25%Energy: 65% - 100%, 2. (a) Equity and not be sustained in future and should not be used as a basis for comparison with 29 Zuari Industries Fertilisers 171.39 1.18%Equity related Securities of companies other investments.domiciled overseas, and principally 30 JSW Steel Ferrous Metals 126.77 0.88%engaged in the discovery, development, 31 Cairn India Oil 118.35 0.82%production or distribution of Natural 32 NMDC Minerals/Mining 114.29 0.79%Resources and Alternative Energy (b) Units/Shares of (i) BGF – New Energy 33 Deep Industries Gas 108.73 0.75% Sectoral AllocationFund (ii) BGF – World Energy Fund and Shiv-Vani Oil & Gas Exploration (iii) Similar other overseas mutual fund 34 Oil 104.58 0.72% Services PETROLEUM PRODUCTS 24.93% MINERALS/MINING 5.78%schemes: 0% - 35% 3. Debt and Money Market Securities: 0% - 20% 35 Sesa Goa Minerals/Mining 97.27 0.67% GAS 20.77% CONSUMER NON DURABLES 2.82% 36 Adhunik Metaliks Ferrous Metals 95.28 0.66% FERTILISERS 10.51% FOREIGN SECURITIES 2.29% 37 Selan Exploration Technology Oil 79.91 0.55%REDEMPTION Cumulative value of securities with holdings less than 0.5% (as a %age OIL 8.05% INDUSTRIAL CAPITAL GOODS 2.04% 38 59.16 0.41% NON - FERROUS METALS 6.92% PESTICIDES 1.78%PROCEEDS to net assets) AUTO ANCILLARIES 6.35% CASH & EQUIVALENT 1.41%Normally within 3 Business Days from Total 13,496.65 93.24% FERROUS METALS 6.35%acceptance of redemption request. DERIVATIVESFEATURES 39 Oil & Natural Gas Corpn Aug 2011 Oil 385.60 2.66%• Minimum investment and minimum 40 Reliance Industries Aug 2011 Petroleum Products 58.11 0.40% additional purchase Total 443.71 3.06% *‘Open End Infrastructure Equity’ category, ranks within Top 10 percentile of the - Regular Plan: ` 5,000/- 18 schemes considered, 2 year period ending Jun 30, 2011. Past performance and ` 1000/- thereafter. Investment in Foreign Securities is no guarantee of future results. - Institutional Plan: ` 1 crore and ` 1000/- thereafter. BlackRock Global Funds - World 41 NA 330.81 2.29% Please refer page no. 27 for details on the Ranking Methodology.• Options available: Energy Fund (Class I2 USD Shares)^^ • Growth Total 330.81 2.29% • Dividend - Payout Dividend CBLO / Reverse Repo Investments 249.91 1.73% - Reinvest Dividend Total 249.91 1.73%• Entry load: Nil• Exit load (both plans): Cash & Cash Equivalents Holding Period: Net Receivable/Payable (45.41) (0.32%) < 12 months: 1% Total (45.41) (0.32%) >= 12 months: Nil Grand Total 14,475.67 100.00%NAV AS ON Notes: 1. ^^Fund domiciled in Luxembourg 2. Portfolio Turnover Ratio (Last 12 July 29, 2011 months): 0.50 times. 3. Total Expense Ratio (F.Y. beginning to date): RP: 2.30%. Since Inception Ratios: 1. Standard Deviation: 23.10% 2. Beta: 0.65 3. R-Squared: Regular Plan 70.81% 4. Sharpe Ratio: 0.28Growth - ` 14.964Dividend - ` 13.369 Investors in DSPBRNRNEF shall bear the proportionate recurring expenses of As there were no investors in the underlying schemes in addition to the expenses of the Scheme.Institutional Plan, NAVs have notbeen shown. 12
    • DSP BlackRock world Gold FundINVESTMENT OBJECTIVE Comparative performance FUND MANAGERAn open ended Fund of Funds scheme seeking to generate capital (for both Schemes)appreciation by investing predominantly in units of BlackRock Global COMPOUNDED ANNUALISED RETURN Mehul Jani (Dedicated fund Funds - World Gold Fund (BGF-WGF). The Scheme may, at the discretion PERIOD manager for overseas investment) DSPBRwGF (REGULAR PLAN) FTSE GOLD MINES (CAP)^ Total work experience of 7 years. of the Investment Manager, also invest in the units of other similar Managing this Scheme since June overseas mutual fund schemes, which may constitute a significant part Last 6 months 4.32% 2.01% 2010.of its corpus. Last 1 Year 19.21% 11.45% Last 3 Year 11.55% 11.18% ASSET ALLOCATIONPortfolio Since Inception 16.88% 12.41% DSPBRwGF: Units of BGF – WGF# or Sr. Name of Instrument Rating/Industry Market value % to Net NAV / Index Value (July 29) ` 18.2962 164,004.99 other similar overseas mutual fund No. (` lakh) Assets scheme(s): 90% to 100%; Money Date of allotment 14th September, 2007 market securities and/or units of Investment in Foreign Securities money market/liquid schemes of BlackRock Global Funds - World Gold DSP BlackRock Mutual Fund: 0% 1 NA 102,557.83 98.58% SIP PERFORMANCE* Fund (Class I2 USD Shares)^^ to 10%. DSPBRwGF Total 102,557.83 98.58% INVEST- FTSE GOLD MINES (CAP)^ PERIOD (REGULAR PLAN) #In MENT (`) the shares of BGF-WGF, VALUE (`) CAGR (%) VALUE (`) CAGR (%) CBLO / Reverse Repo Investments 2,029.42 1.95% an Undertaking for Collective Last 1 Year 12,000 12,162 2.52% 11,808 (2.95%) Investment in Transferable Total 2,029.42 1.95% Last 3 Years 36,000 47,137 18.33% 43,806 13.18% Securities (UCITS) III Fund. Cash & Cash Equivalents Since Inception 46,000 60,137 14.07% 57,074 11.27% DSPBRwEF: Units of BGF – WEF# Net Receivable/Payable (550.99) (0.53%) Start date of SIP 14th September, 2007 or other similar overseas mutual Total (550.99) (0.53%) ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are calculated on fund scheme(s): 50% to 100% 2. Grand Total ` 10/- invested at inception, viz. date of allotment. All returns are for Growth Option. *The SIP 104,036.26 100.00% Units of BGF – NEF# or other similar investment returns table assumes monthly investments of ` 1,000 being invested since the Date overseas mutual fund scheme(s): 0% of Allotment. The SIP returns are computed on the assumption that the monthly installments Notes: 1. ^^Fund domiciled in Luxembourg 2. Total Expense Ratio (F.Y. beginning were received across time periods from the start date of SIP. The CAGR is computed based to 30% 3. Money market securities to date): RP: 1.38%. on IRR since the SIP instalments are received at different intervals across the SIP period. and/or units of money market/liquid XIRR calculates internal rate of return for a series of cash flows. The benchmark returns are schemes of DSP BlackRock Mutual computed on the assumption that the value of the benchmark index is the price of one unit Investors in DSPBRWGF shall bear the recurring expenses of the Scheme in and “Since inception” returns are computed from the “Start date of SIP”. Past performance Fund: 0% to 20%addition to the expenses of the underlying scheme(s) in which the Scheme will make may or may not be sustained in future and should not be used as a basis forinvestment. comparison with other investments. # in the shares of BGF – WEF and BGF – NEF, Undertaking for Collective Investment in Transferable NAV AS ON July 29, 2011 Securities (UCITS) III fund Regular Plan As there were no investors in the Institutional Plan, NAVs have not Growth - ` 18.2962 been shown. Dividend - ` 14.9821 REDEMPTION PROCEEDS (for both Schemes) Normally within 5 Business Days DSP BlackRock world Energy Fund from acceptance of redemption requestINVESTMENT OBJECTIVE Comparative performance FEATURES (for both Schemes)An open ended Fund of Funds Scheme seeking to generate capital • Minimum investment and minimum ABSOLUTE RETURNappreciation by investing predominantly in the units of BlackRock Global additional purchase PERIOD DSPBRwEF COMPOSITEFunds- World Energy Fund (BGF-WEF) and BlackRock Global Funds- - Regular Plan (RP): ` 5,000/- and (REGULAR PLAN) BENCHMARK^New Energy Fund (BGF-NEF). The Scheme may, at the discretion of the ` 1,000/- thereafter. Investment Manager, also invest in the units of other similar overseas Last 6 months (3.08%) (1.94%) - Institutional Plan (IP): ` 1 crore mutual fund schemes, which may constitute a significant part of its corpus. Last 1 Year 22.86% 26.99% and ` 1,000/- thereafter. Since Inception 7.82% 15.44% • Options available: (for both plans):Portfolio NAV / Index Value (July 29) ` 11.5865 132.42 • Growth • Dividend Date of allotment 14th August, 2009 Sr. Market value % to Net - Payout Dividend Name of Instrument Rating/Industry No. (` lakh) Assets SIP PERFORMANCE* - Reinvest Dividend DSPBRwEF COMPOSITE • Entry load: Nil Investment in Foreign Securities INVEST- (REGULAR PLAN) BENCHMARK^ PERIOD BlackRock Global Funds - World MENT (`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) • Exit load (both plans): 1 NA 24,408.13 92.43% Energy Fund (Class I2 USD Shares)^^ Last 1 Year 12,000 12,597 9.37% 12,640 10.05% Holding Period: BlackRock Global Funds - New Energy < 12 months: 1% 2 NA 1,505.86 5.70% Since Inception 23,000 25,427 10.42% 26,212 13.73% Fund (Class I2 USD Shares)^^ >= 12 months: Nil Total 25,913.99 98.13% Start date of SIP 14th August, 2009 ^Composite Benchmark = 30% MSCI World Index + 70% MSCI World Energy Index CBLO / Reverse Repo Investments (Net & Expressed in INR; Normalised Values). ^Benchmark. Returns < 1 year 584.80 2.22% are absolute returns. “Since inception” returns are calculated on ` 10/- invested Total at inception, viz. date of allotment. All returns are for Growth Option. *The SIP 584.80 2.22% investment returns table assumes monthly investments of ` 1,000 being invested since the Date of Allotment. The SIP returns are computed on the assumption that Cash & Cash Equivalents the monthly installments were received across time periods from the start date of Net Receivable/Payable (90.24) SIP. The CAGR is computed based on IRR since the SIP instalments are received at (0.35%) different intervals across the SIP period. XIRR calculates internal rate of return for Total (90.24) (0.35%) a series of cash flows. The benchmark returns are computed on the assumption that the value of the benchmark index is the price of one unit and “Since inception” Grand Total 26,408.55 100.00% returns are computed from the “Start date of SIP”. Past performance may or may not be sustained in future and should not be used as a basis for comparison withNotes: 1. ^^Fund domiciled in Luxembourg 2. Total Expense Ratio (F.Y. beginning other investments.to date): RP: 1.40%.Investors in DSPBRWEF shall bear the recurring expenses of the Scheme in addition to the expenses of the underlying scheme(s) in which the Scheme will make NAV AS ON July 29, 2011 Regular Plan As there were no investors in the Institutional Plan, NAVs have not investment. Growth - ` 11.5865 been shown. Dividend - ` 11.5865 13
    • DSP BlackRock world Mining FundFUND MANAGER INVESTMENT OBJECTIVEMehul Jani (Dedicated fund The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in the units of BlackRock Global Funds manager for overseas investment)Total work experience of 7 years. – World Mining Fund (BGF-WMF). The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas Managing this Scheme since June mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money 2010. market securities and/or money market/liquid schemes of DSP BlackRock Mutual Fund, in order to meet liquidity requirements from time to time. There is no assurance that the investment objective of the Scheme will be realised.ASSET ALLOCATION Portfolio Comparative performanceUnits of BGF – WMF# or other similar overseas mutual fund Sr. Name of Instrument Rating/Industry Market value (` % to Net COMPOUNDED ANNUALISED RETURNscheme(s): 80% to 100%; Money No. lakh) Assets PERIOD DSPBRwMF (REGULAR PLAN) HSBC MINING INDEX^market securities and/or units of money market/liquid schemes of Investment in Foreign Securities Last 6 months (4.15%) (3.43%)DSP BlackRock Mutual Fund: 0% BlackRock Global Funds - World Mining 1 NA 14,400.00 97.71% Last 1 Year 21.98% 22.71% to 20%. Fund (Class I2 USD Shares)^^ Since Inception 10.35% 10.18% #In the shares of BGF – WMF, Total 14,400.00 97.71%an Undertaking for Collective NAV / Index Value (July 29) ` 11.6853 32,140.25Investment in Transferable CBLO / Reverse Repo Investments 454.83 3.09% Date of allotment 29th December, 2009Securities (UCITS) III fund. Total 454.83 3.09% SIP PERFORMANCE* Cash & Cash Equivalents DSPBRwMF (REGULAR HSBC GLOBAL MININGREDEMPTION Net Receivable/Payable (116.79) (0.80%) PERIOD INVEST- PLAN) INDEX^ Total (116.79) (0.80%) MENT (`)PROCEEDS Grand Total 14,738.04 100.00% VALUE (`) CAGR (%) VALUE (`) CAGR (%)Normally within 5 Business Days Last 1 year 12,000 12,153 2.41% 12,233 3.68%from acceptance of redemption Notes: 1. ^^Fund domiciled in Luxembourg 2. Total Expense Ratio (F.Y. beginning Since Inception 18,000 19,507 10.72% 19,683 11.96%request to date): RP: 1.40%. Start date of SIP 29th December, 2009 Investors in DSPBRWMF shall bear the recurring expenses of the Scheme in ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are addition to the expenses of the underlying scheme(s) in which the Scheme will calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for FEATURES make investment. Growth Option. *The SIP investment returns table assumes monthly investments of • Minimum investment and minimum ` 1,000 being invested since the Date of Allotment. The SIP returns are computed additional purchase on the assumption that the monthly installments were received across time periods from the start date of SIP. The CAGR is computed based on IRR since the - Regular Plan (RP): ` 5,000/- and SIP instalments are received at different intervals across the SIP period. XIRR ` 1,000/- thereafter. calculates internal rate of return for a series of cash flows. The benchmark returns - Institutional Plan (IP): ` 1 crore are computed on the assumption that the value of the benchmark index is the price and ` 1,000/- thereafter. of one unit and “Since inception” returns are computed from the “Start date of SIP”. Past performance may or may not be sustained in future and should not be used• Options available: (for both plans): as a basis for comparison with other investments. • Growth • Dividend - Payout Dividend - Reinvest Dividend• Entry load: Nil• Exit load (both plans): Holding Period: < 12 months: 1% >= 12 months: Nil NAV AS ON July 29, 2011 Regular Plan Growth - ` 11.6853 Dividend - ` 11.6853 As there were no investors in the Institutional Plan, NAVs have not been shown. 14
    • DSP BlackRock Focus 25 FundINVESTMENT OBJECTIVE FUND MANAGERThe primary investment objective of the Scheme is to generate long-term capital growth from a portfolio of equity and equity-related securities Apoorva Shahincluding equity derivatives. The portfolio will largely consist of companies, which are amongst the top 200 companies by market capitalisation. The Total work experience of 24 portfolio will limit exposure to companies beyond the top 200 companies by market capitalization upto 20% of the net asset value. The Scheme will years. Managing this Scheme normally hold equity and equity-related securities including equity derivatives, of upto 25 companies. Further, the Scheme will also have at least since June 201095% of the invested amount (excluding investments in debt securities, money market securities and cash and cash equivalents) across the top Mehul Jani (dedicated fund 25 holdings in the portfolio. The Scheme may also invest in debt and money market securities, for defensive considerations and/or for managing manager for managing overseas liquidity requirements. There can be no assurance that the investment objective of the Scheme will be realized. investments) Total work experience of 7 years. Portfolio Comparative performance Managing this Scheme since June 2010 Sr. Market value ABSOLUTE RETURN Name of Instrument Rating/Industry % to Net Assets PERIOD No. (` lakh) DSPBRF25F BSE SENSEX^ ASSET ALLOCATION Last 6 months 3.67% (0.71%) 1(a) Equity and equity related EQUITY & EQUITY RELATED Listed / awaiting listing on the stock exchanges Last 1 Year 2.08% 1.85% securities, which are amongst 1 HDFC Bank Banks 5,835.95 9.16% Since Inception 5.14% 6.61% the top 200 companies by market Housing Development Finance capitalization* - 65% - 100%; 2 Finance 5,498.70 8.63% NAV / Index Value (July 29) ` 10.585 18,197.20 1(b) Equity and equity related Corporation Date of allotment 10th June, 2010 securities, which are beyond the 3 Larsen & Toubro Construction Project 4,264.66 6.70% top 200 companies by market 4 Tata Chemicals Fertilisers 3,967.71 6.23% SIP PERFORMANCE* capitalization – 0% - 20%; Of 1(a) Consumer Non 5 ITC 3,630.99 5.70% and 1(b) above, investments in Durables INVEST- DSPBRF25F BSE SENSEX^ PERIOD ADRs, GDRs and foreign securities 6 Godrej Industries Chemicals 3,617.60 5.68% MENT(`) VALUE (`) CAGR (%) VALUE (`) CAGR (%) – 0% - 25%; 2. Debt securities, 7 Hindustan Unilever Diversified 3,107.92 4.88% money market securities and cash Last 1 Year 12,000 11,885 (1.77%) 11,428 (8.70%) 8 Bharat Petroleum Corpn. Petroleum Products 2,885.14 4.53% and cash equivalents – 0% - 35%. 9 Tata Motors Auto 2,466.96 3.87% Since Inception 13,000 12,917 (1.09%) 12,467 (6.98%) *The portfolio will largely consist 10 ING Vysya Bank Banks 2,457.00 3.86% Start date of SIP 10th June, 2010 of companies, which are amongst Consumer Non ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are the top 200 companies by market 11 EID Parry India 2,420.48 3.80% Durables calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for capitalisation. The portfolio will 12 Siemens Industrial Capital Goods 2,368.93 3.72% Growth Option. *The SIP investment returns table assumes monthly investments limit exposure to companies 13 Lupin Pharmaceuticals 2,275.60 3.57% of ` 1,000 being invested since the Date of Allotment. The SIP returns are beyond the top 200 companies by 14 Apollo Tyres Auto Ancillaries 2,025.68 3.18% computed on the assumption that the monthly installments were received across market capitalization to 20% of time periods from the start date of SIP. The CAGR is computed based on IRR the net asset value. The Scheme 15 Cadila Healthcare Pharmaceuticals 1,987.30 3.12% since the SIP instalments are received at different intervals across the SIP period. will also have at least 95% of 16 Power Finance Corporation Finance 1,659.31 2.61% XIRR calculates internal rate of return for a series of cash flows. The benchmark the invested amount (excluding 17 Lakshmi Machine Works Industrial Capital Goods 1,589.75 2.50% returns are computed on the assumption that the value of the benchmark index investments in debt securities, 18 Suzlon Energy Industrial Capital Goods 1,513.66 2.38% is the price of one unit and “Since inception” returns are computed from the “Start date of SIP”. Past performance may or may not be sustained in future and money market securities and cash 19 Arvind Textile Products 1,472.31 2.31% and cash equivalents) across the should not be used as a basis for comparison with other investments. 20 Hindustan Petroleum Corporation Petroleum Products 1,354.82 2.13% top 25 holdings in the portfolio. 21 Areva T&D India Industrial Capital Goods 1,221.84 1.92% 22 23 Zuari Industries SKS Microfinance Fertilisers Finance 1,011.97 968.13 1.59% 1.52% Sectoral Allocation REDEMPTION Total 59,602.41 93.59% BANKS 13.02% PETROLEUM PRODUCTS 6.66% PROCEEDS Normally within 3 Business Days FINANCE 12.76% CHEMICALS 5.68% CBLO / Reverse Repo Investments 1,474.56 2.32% from acceptance of redemption INDUSTRIAL CAPITAL GOODS 10.52% DIVERSIFIED 4.88% request. Total 1,474.56 2.32% CONSUMER NON DURABLES 9.50% AUTO 3.87% FERTILISERS 7.82% AUTO ANCILLARIES 3.18% Cash & Cash Equivalents Net Receivable/Payable 2,619.74 4.09% CONSTRUCTION PROJECT 6.70% TEXTILE PRODUCTS 2.31% FEATURES PHARMACEUTICALS 6.69% CASH & EQUIVALENT 6.41% • Minimum investment and minimum Total 2,619.74 4.09% additional purchase Grand Total 63,696.72 100.00% ` 5,000/- and ` 1,000/- thereafter.Note: 1. Portfolio Turnover Ratio (Last 12 months): 2.61 times. 2. Total Expense Ratio • Options available(F.Y. beginning to date): 2.17% Since Inception Ratios: 1. Standard Deviation: 14.98% • Growth2. Beta: 0.80 3. R-Squared: 81.52% 4. Sharpe Ratio: (0.15) • Dividend - Payout Dividend - Reinvest Dividend • Entry load: Nil • Exit load: Holding period <12 months: 1% Holding period >=12 months: Nil NAV AS ON July 29, 2011 Growth - ` 10.585 Dividend - ` 10.585 15
    • CRISIL MUTUAL FUND RANK 1* DSP BlackRock Balanced FundFUND MANAGERApoorva Shah PortfolioTotal work experience of 24 years. Sr. Name of Instrument Rating/Industry Market value % to Net MONEY MARKET INSTRUMENTManaging this Scheme since No. (` lakh) Assets Certificate of DepositJune 2006 68 Axis Bank P1+ 2,285.38 3.04% EQUITY & EQUITY RELATED 69 HDFC Bank PR1+ 1,372.55 1.83%Kushal M. Choksi Listed / awaiting listing on the stock exchanges Total 3,657.94 4.87%Total work experience of 10 years. 1 HDFC Bank Banks 3,032.92 4.04%Managing this Scheme since Housing Development Finance Commercial Paper 2 Finance 2,634.50 3.51% 70 Fullerton India Credit Company A1+ 470.75 0.63%March 2011 Corporation 3 Bharat Petroleum Corpn. Petroleum Products 1,981.46 2.64% Total 470.75 0.63% 4 Hindalco Industries Non - Ferrous Metals 1,342.83 1.79%INVESTMENT OBJECTIVE 5 Hindustan Unilever Diversified 1,299.74 1.73% CENTRAL GOVERNMENT SECURITIESAn Open Ended balanced Scheme, 6 Oil & Natural Gas Corpn Oil 1,236.89 1.65% 71 07.80% CGL 2021 SOV 957.10 1.27%seeking to generate long term capital 7 Larsen & Toubro Construction Project 1,214.55 1.62% Total 957.10 1.27%appreciation and current income 8 ITC Consumer Non Durables 1,183.76 1.58%from a portfolio constituted of equity 9 Siemens Industrial Capital Goods 1,155.91 1.54% BONDS & NCDsand equity related securities as well 10 Lupin Pharmaceuticals 1,130.89 1.51% Listed / awaiting listing on the stockas fixed income securities (debt and 11 Tata Power Company Power 1,117.17 1.49% exchanges 12 Tata Chemicals Fertilisers 1,102.46 1.47% 72 LIC Housing Finance FRN AAA 2,486.85 3.31%money market securities). 13 Godrej Properties Construction 1,065.01 1.42% 73 Tata Capital AA+ 1,999.21 2.66% 14 Info Edge (India) Software 1,049.34 1.40% 74 Axis Bank FRN LAAA 1,983.62 2.64%ASSET ALLOCATION 15 EID Parry India Consumer Non Durables 1,034.87 1.38% 75 Hindustan Petroleum Corporation AAA 1,944.87 2.59%Equity & equity related securities : 16 Arvind Textile Products 969.85 1.29% 76 Reliance Ports And Terminals AAA 1,518.65 2.02%65% - 75%. 17 GlaxoSmithKline Pharmaceuticals Pharmaceuticals 891.77 1.19% 77 Kotak Mahindra Prime LAA 1,490.54 1.98% 18 Tata Motors Auto 881.33 1.17% 78 Shriram Transport Finance Company F1+ 1,000.59 1.33% 19 Bayer Cropscience Pesticides 834.23 1.11% 79 Power Finance Corporation @ AAA 1,000.00 1.33%Fixed income securities (Debt 20 Sun Pharmaceuticals Industries Pharmaceuticals 805.48 1.07% 80 Sundaram Finance LAA+ 980.32 1.30%securities, Securitised debt & 21 Godrej Industries Chemicals 789.33 1.05% Total 14,404.64 19.16%Money market securities): 25% 22 Trent Retailing 782.48 1.04%- 35%. 23 CMC Hardware 776.29 1.03% CBLO / Reverse Repo Investments 1,404.56 1.87% 24 Cairn India Oil 743.94 0.99% Total 1,404.56 1.87% 25 Eicher Motors Auto 737.94 0.98%REDEMPTION 26 Apollo Tyres Auto Ancillaries 736.42 0.98% Cash & Cash Equivalents 27 Suzlon Energy Industrial Capital Goods 720.59 0.96% Net Receivable/Payable 1,347.53 1.75%PROCEEDS 28 Cadila Healthcare Pharmaceuticals 696.18 0.93% Total 1,347.53 1.75%Normally within 3 Business Days 29 ICICI Bank Banks 695.83 0.93% Grand Total 75,123.39 100.00%from acceptance of redemption 30 Chambal Fertilizers & Chemicals Fertilisers 690.71 0.92%request 31 Kotak Mahindra Bank Banks 652.43 0.87% Notes: 1. Modified Duration (Debt Securities) 0.47 years 2. Average Maturity 0.72 32 Tata Global Beverages Consumer Non Durables 635.59 0.85% years. 3. All corporate ratings are assigned by rating agencies like CRISIL, CARE, 33 Lakshmi Machine Works Industrial Capital Goods 611.67 0.81% ICRA, FITCH. 4. Total Expense Ratio (F.Y. beginning to date): 2.08% 5. Portfolio FEATURES 34 Gujarat Pipavav Port Transportation 611.29 0.81% Turnover Ratio (Last 12 months): 2.00 times. 5. @Pending Allotment• Minimum first purchase: ` 5,000 35 Redington (India) Hardware 604.19 0.80%• Minimum additional purchase: 36 Hindustan Petroleum Corporation Petroleum Products 597.59 0.80% 37 GlaxoSmithKline Consumer Healthcare Consumer Non Durables 571.04 0.76% ` 1,000• Options available: 38 Torrent Pharmaceuticals Pharmaceuticals 569.93 0.76% Comparative performance • Growth 39 SRF Auto Ancillaries 548.01 0.73% • Dividend 40 Zuari Industries Fertilisers 547.36 0.73% COMPOUNDED ANNUALISED RETURN 41 Areva T&D India Industrial Capital Goods 527.17 0.70% PERIOD - Payout Dividend DSPBRBalF CRISIL BALANCED FUND INDEX^ 42 Thermax Industrial Capital Goods 484.08 0.64% - Reinvest Dividend 43 Praj Industries Industrial Capital Goods 470.69 0.63% Last 6 months 3.16% 1.09% 44 Sintex Industries Industrial Products 470.61 0.63% Last 1 Year 4.30% 3.60% • Entry load: Nil 45 Grasim Industries Textile Products 470.30 0.63% Last 3 Years 13.98% 9.08% 46 Bharat Forge Industrial Products 468.10 0.62% Last 5 Years 16.05% 10.66% • Exit load: 47 Dr. Reddys Laboratories Pharmaceuticals 467.28 0.62% Since Inception 16.81% NA# Holding Period: 48 Fortis Healthcare Healthcare Services 450.54 0.60% 49 Power Finance Corporation Finance 447.51 0.60% NAV / Index Value (July 29) ` 66.350 3,478.18 < 12 months: 1% 50 ING Vysya Bank Banks 445.26 0.59% Date of allotment 27th May, 1999 >= 12 months: Nil 51 Power Grid Corporation of India Power 444.35 0.59% 52 Gujarat State Petronet Gas 441.10 0.59% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for NAV AS ON 53 KPIT Cummins Infosystems Software 440.19 0.59% Growth Option.#Since historical data for the benchmark is not available,performance 54 Alstom Projects India Industrial Capital Goods 419.49 0.56%July 29, 2011 55 Bajaj Finserv Finance 417.56 0.56% has not been compared. Past performance may or may not be sustained in future 56 Punjab National Bank Banks 408.52 0.54% and should not be used as a basis for comparison with other investments.Growth - ` 66.350 57 Bajaj Finance Finance 406.94 0.54% 58 Jet Airways (India) Transportation 396.11 0.53%Dividend - ` 21.820 59 NIIT Software 391.09 0.52% Sectoral Allocation 60 NMDC Minerals/Mining 390.66 0.52% 61 Tecpro Systems Industrial Capital Goods 388.64 0.52% BANKS 6.97% RETAILING 1.82% *‘Open End Consistent 62 Gujarat Mineral Development Corporation Minerals/Mining 386.64 0.51% INDUSTRIAL CAPITAL GOODS 6.36% DIVERSIFIED 1.73% 63 Nagarjuna Construction Co. Construction Project 375.63 0.50% PHARMACEUTICALS 6.08% AUTO ANCILLARIES 1.71% Balanced Schemes Cumulative value of securities with holdings less than 0.5% (as a %age FINANCE 5.86% PESTICIDES 1.50% category, ranks within Top 64 3,131.64 4.18% to net assets) CONSUMER NON DURABLES 5.05% CONSTRUCTION 1.42% 10 percentile of the 14 Total 52,423.84 69.84% schemes considered, 5 year PETROLEUM PRODUCTS 3.44% TRANSPORTATION 1.34% period ending Jun 30, 2011. FERTILISERS 3.12% INDUSTRIAL PRODUCTS 1.31% Unlisted SOFTwARE 2.89% CHEMICALS 1.05% Past performance is 65 SIP Technologies & Export Software 0.00 0.00% OIL 2.64% MINERALS/MINING 1.03% no guarantee of future Total 0.00 0.00% LAAA 2.64% HEALTHCARE SERVICES 0.60% results. AUTO 2.60% GAS 0.59% PREFERENCE SHARES CONSTRUCTION PROJECT 2.28% TEXTILES - COTTON 0.49% Please refer page no. 27 Listed / awaiting listing on the stock exchanges POwER 2.08% TELECOM - SERVICES 0.40% for details on the Ranking 66 Trent Series A - CCPS Retailing 232.73 0.31% 67 Trent Series B - CCPS Retailing 224.31 0.30% NON - FERROUS METALS 1.94% FERROUS METALS 0.40% Methodology TEXTILE PRODUCTS 1.92% DEBT INSTRUMENTS 23.29% Total 457.04 0.61% HARDwARE 1.83% CASH & EQUIVALENT 3.62% 16
    • DSP BlackRock Savings Manager FundPortfolio Comparative performance FUND MANAGER Kushal M. Choksi Sr. Name of Instrument Rating/Industry Market value % to Net COMPOUNDED ANNUALISED RETURN Total work experience of 10 years. No. (` lakh) Assets PERIOD Managing this Scheme since CRISIL MIP DSPBRSF March 2011 BLENDED INDEX^ EQUITY & EQUITY RELATED Apoorva Shah Last 6 months 2.56% 2.96% Listed / awaiting listing on the stock exchanges Total work experience of 24 years. 1 Indian Oil Corporation Petroleum Products 656.96 2.86% Last 1 Year 5.77% 5.05% Managing this Scheme since 2 Chambal Fertilizers & Chemicals Fertilisers 485.08 2.11% Last 3 Years 8.80% 7.94% April 2006 3 ABB Industrial Capital Goods 367.36 1.60% Last 5 Years 9.01% 7.50% 4 Gujarat Alkalies and Chemicals Chemicals 339.80 1.48% Since Inception 9.76% 7.55% 5 Fortis Healthcare Healthcare Services 317.40 1.38% NAV / Index Value (July 29) ` 19.4377 2,078.56 INVESTMENT OBJECTIVE 6 Indian Hotels Co. Hotels 299.89 1.30% An Open Ended Income Scheme, 7 Areva T&D India Industrial Capital Goods 218.76 0.95% Date of allotment 11th June, 2004 seeking to generate income, consistent 8 Hindustan Petroleum Corporation Petroleum Products 197.77 0.86% with prudent risk, from a portfolio which 9 Nagarjuna Fertilizer & Chemicals Fertilisers 133.34 0.58% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are calculated on ` 10/- invested at inception, viz. date of allotment. All returns are is substantially constituted of quality 10 Tata Global Beverages Consumer Non Durables 116.41 0.51% debt securities. The scheme will also 11 Divis Laboratories Pharmaceuticals 116.26 0.51% for Growth Option. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. seek to generate capital appreciation by Cumulative value of securities with holdings less than 0.5% (as a %age investing a smaller portion of its corpus 12 415.03 1.81% to net assets) in equity and equity related securities of Total 3,664.05 15.95% issuers domiciled in India. MONEY MARKET INSTRUMENT Sectoral Allocation Certificate of Deposit PETROLEUM PRODUCTS 3.72% PHARMACEUTICALS 0.51% ASSET ALLOCATION 13 IndusInd Bank P1+ 496.22 2.16% *Debt and Money Market Securities INDUSTRIAL CAPITAL GOODS 3.18% PESTICIDES 0.39% Total 496.22 2.16% 75% - 100% FERTILISERS 2.69% AUTO ANCILLARIES 0.33% Equity and Equity Related Securities CHEMICALS 1.48% FINANCE 0.30% Commercial Paper 0% - 25% HEALTHCARE SERVICES 1.38% BANKS 0.16% 14 Fullerton India Credit Company A1+ 4,146.28 18.03% HOTELS 1.30% DEBT INSTRUMENTS 69.78% *Debt securities may include Total 4,146.28 18.03% CONSUMER NON DURABLES 0.51% CASH & EQUIVALENT 14.27% securitised debts upto 50% of the net assets CENTRAL GOVERNMENT SECURITIES 15 07.80% CGL 2021 SOV 957.10 4.16% Total 957.10 4.16% REDEMPTION PROCEEDS Normally within 2 Business Days BONDS & NCDs from acceptance of redemption Listed / awaiting listing on the stock exchanges request 16 Kotak Mahindra Prime LAA 2,953.65 12.84% 17 Mahindra & Mahindra Financial Services AA+ 2,493.00 10.84% 18 Reliance Ports And Terminals AAA 1,012.43 4.40% FEATURES 19 Shriram Transport Finance Company F1+ 1,000.59 4.35% • Minimum first purchase: 20 Power Finance Corporation @ AAA 1,000.00 4.35% ` 5,000 21 LIC Housing Finance FRN AAA 994.74 4.32% • Minimum additional purchase: 22 Tata Capital AA+ 499.80 2.17% ` 1,000 23 Axis Bank FRN LAAA 495.90 2.16% • Options available: Total 10,450.11 45.43% • Growth • MIP* CBLO / Reverse Repo Investments 809.71 3.52% - Payout Dividend Total 809.71 3.52% - Reinvest Dividend • QIP Cash & Cash Equivalents - Payout Dividend Net Receivable/Payable 2,476.51 10.75% - Reinvest Dividend Total 2,476.51 10.75% Grand Total 22,999.97 100.00% • Entry load: NilNotes: 1. Modified Duration (Debt Securities) 1.34 years 2. Average Maturity 1.97 • Exit load:years 3. All corporate ratings are assigned by rating agencies like CRISIL, CARE, Holding Period:ICRA, FITCH. 4. Total Expense Ratio (F.Y. beginning to date): 2.09% 5. @Pending < 12 months: 1%Allotment >= 12 months: Nil NAV AS ON July 29, 2011 Growth - ` 19.4377 MIP - ` 10.9228 QIP - ` 11.6029 *Monthly income is not assured and is subject to availability of distributable surplus. 17
    • RATED RATED AAAf AAAf by CRISIL* by CRISIL* DSP BlackRock Liquidity FundFUND MANAGER PortfolioDhawal DalalTotal work experience of 14 years. Sr. Name of Instrument Rating/Industry Market value % to Net Cash & Cash EquivalentsManaging this Scheme since No. (` lakh) Assets Net Receivable/Payable 201.60 0.02%September 2007 Total 201.60 0.02%Laukik Bagwe MONEY MARKET INSTRUMENT Grand Total 425,107.88 100.00%Total work experience of 9 years. Certificate of DepositManaging this Scheme since June Notes: 1. Modified Duration 0.09 years. 2. Average Maturity 0.10 years. 3. All 2010. 1 Central Bank of India PR1+ 17,306.32 4.08% 2 IndusInd Bank P1+ 17,097.60 4.02% corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, FITCH. 4. Total Expense Ratio (F.Y. beginning to date): IP: 0.35% RP: 0.55% 3 UCO Bank P1+ 14,832.60 3.49% 4 Vijaya Bank PR1+ 10,691.51 2.51%INVESTMENT OBJECTIVE 5 Canara Bank P1+ 9,980.47 2.35%An Open Ended income Scheme, seeking to generate a reasonable 6 State Bank of Travancore P1+ 9,873.22 2.32% Comparative performancereturn commensurate with low risk 7 HDFC Bank PR1+ 9,250.21 2.18%and a high degree of liquidity, from 8 South Indian Bank PR1+ 6,946.57 1.63%a portfolio constituted of money COMPOUNDED ANNUALISED RETURNmarket securities and high quality 9 Corporation Bank P1+ 4,990.26 1.17% CRISILdebt securities. 10 Vijaya Bank P1+ 4,949.53 1.16% PERIOD CRISIL DSPBRLF - DSPBRLF - LIQUID 11 State Bank of Hyderabad A1+ 4,942.12 1.16% LIQUID FUND REGULAR INSTITUTIONAL FUND 12 Axis Bank P1+ 4,924.28 1.16% INDEX^ASSET ALLOCATION 13 Allahabad Bank P1+ 4,820.04 1.13% INDEX^Money market securities and/or Last 7 days 0.17% 0.14% 0.17% 0.14% Debt securities* with maturity of 91 14 Allahabad Bank A1+ 4,469.13 1.05%days – 80% - 100%; Last 15 days 0.35% 0.30% 0.36% 0.30% 15 Punjab National Bank PR1+ 4,145.41 0.98% 16 IDBI Bank A1+ 3,983.95 0.94% Last 30 days 0.68% 0.58% 0.70% 0.58% (*Debt securities may include securitised debts upto 30% of the 17 State Bank of Mysore A1+ 3,485.96 0.82% Last 3 Months 2.11% 1.92% 2.16% 1.92% net assets.) 18 ICICI Bank A1+ 3,440.72 0.81% Last 6 Months 4.11% 3.87% 4.21% 3.87% 19 Canara Bank A1+ 2,967.58 0.70% Last 1 Year 7.62% 7.36% 7.87% 7.36% 20 Bank of India P1+ 2,967.08 0.70%REDEMPTION 21 ING Vysya Bank P1+ 2,949.58 0.69% Last 3 Years 5.97% 6.24% 6.23% 6.24% Last 5 Years 6.44% 6.60% 6.70% 6.60% PROCEEDS 22 Kotak Mahindra Bank P1+ 2,494.65 0.59%Normally within 1 Business Day 23 State Bank of Patiala A1+ 1,453.33 0.34% Since Inception 6.73% NA# 6.67% 6.50% from acceptance of redemption 24 Indian Bank F1+(ind) 1,177.90 0.28% NAV / Index Value (July 29) ` 23.9111 ` 1,698.62 ` 1,443.5641 1,698.62request. 25 Andhra Bank PR1+ 1,177.78 0.28% Date of allotment 11th March, 1998 23rd November, 2005 26 Punjab & Sind Bank A1+ 985.87 0.24% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns 27 Yes Bank P1+ 491.62 0.12%FEATURES are calculated on ` 10/- invested at inception, viz. date of allotment. All returns Total 156,795.28 36.90%• Minimum investment and minimum are for Growth Option. #Since historical data for the benchmark is not available, additional purchase Commercial Paper performance has not been compared. Past performance may or may not be - Regular Plan (RP): ` 5,000/- sustained in future and should not be used as a basis for comparison with other 28 ICICI Securities Primary Dealership P1+ 14,719.92 3.46% and ` 1,000/- thereafter. - Institutional Plan (IP): 29 ICICI Securities P1+ 12,355.20 2.91% investments. ` 1 crore and ` 1,000/- 30 Indian Oil Corporation P1+ 9,982.83 2.35% thereafter. 31 Hindustan Petroleum Corporation P1+ 9,975.43 2.35%• Options available: 32 Cholamandalam Investment and Finance A1+ 9,891.42 2.32% Rating Profile • Growth Company • Weekly Dividend A1+ / F1+ / P1+ / PR1+ 65.36% CASH & EQUIVALENT/ FDS 34.64% Housing Development Finance - Reinvest Dividend 33 A1+ 9,823.74 2.31% Corporation - Payout Dividend (available only in IP) 34 SBI Global Factors P1+ 9,813.48 2.31% • Daily Dividend Reinvest 35 Sterlite Energy P1+ 9,806.55 2.31% *The rating indicates that the ‘Scheme’s’ portfolio holdings provide very • Entry load: Nil 36 India Infoline Investment Services P1+ 4,963.86 1.17% strong protection against losses from credit defaults. Past performance• Exit load: Nil 37 GIC Housing Finance A1+ 4,921.53 1.16% is no guarantee of future results. 38 Jindal Steel & Power A1+ 4,913.76 1.16% Please refer page no. 27 for details on the Rating Methodology. 39 Nomura Capital India F1+(ind) 4,896.37 1.15%NAV AS ON 40 Sundaram BNP Home Finance A1+ 2,498.01 0.59%July 29, 2011 41 Aditya Birla Finance A1+ 2,494.15 0.59% 42 Blue Star PR1+ 2,487.59 0.58%Regular Plan 43 TGS Investment and Trade A1+ 2,481.16 0.58%Growth - ` 23.9111 44 Apollo Tyres P1+ 2,476.65 0.58%Weekly Dividend - ` 12.4134Daily Dividend 45 Raymond PR1+ 2,453.06 0.58%Reinvest - ` 10.0100 Total 120,954.69 28.46%Institutional Plan Fixed DepositGrowth - ` 1,443.5641Weekly Dividend - ` 1,000.4504 46 Central Bank of India Unrated 10,000.00 2.35%Daily Dividend 47 Bank of India Unrated 10,000.00 2.35%Reinvest- ` 1,000.3161 48 Canara Bank Unrated 5,000.00 1.18% 49 The Federal Bank Unrated 5,000.00 1.18% Total 30,000.00 7.06% CBLO / Reverse Repo Investments 117,156.32 27.56% Total 117,156.32 27.56% 18
    • RATED AAAf DSP BlackRock Floating Rate Fund by CRISIL*Portfolio Comparative performance FUND MANAGER Dhawal Dalal Sr. Name of Instrument Rating/Industry Market value % to Net COMPOUNDED ANNUALISED RETURN Total work experience of 14 years. No. (` lakh) Assets Managing this Scheme since CRISIL CRISIL May 2003 PERIOD DSPBRFRF - LIQUID DSPBRFRF - LIQUID MONEY MARKET INSTRUMENT REGULAR FUND INSTITUTIONAL FUND Laukik Bagwe Certificate of Deposit INDEX^ INDEX^ Total work experience of 9 years. 1 Central Bank of India PR1+ 5,359.09 11.46% Last 6 months 4.05% 3.87% 4.20% 3.87% Managing this Scheme since 2 IDBI Bank P1+ 4,424.96 9.47% March 2011 Last 1 Year 7.37% 7.36% 7.70% 7.36% 3 Canara Bank P1+ 3,863.07 8.27% Last 3 Years 6.64% 6.24% 6.93% 6.24% 4 Bank of Baroda P1+ 2,823.53 6.04% INVESTMENT OBJECTIVE 5 State Bank of Mysore A1+ 2,629.07 5.62% Last 5 Years 6.45% 6.60% 6.77% 6.60% An Open Ended Income Scheme, 6 HDFC Bank PR1+ 2,119.86 4.54% Since Inception 6.00% 5.81% 6.66% 6.47% seeking to generate interest income 7 IDBI Bank A1+ 1,937.13 4.14% NAV / Index Value (July 29) ` 16.1395 ` 1,698.62 ` 1,451.4552 ` 1,698.62 through investments in acceptable 8 Oriental Bank of Commerce P1+ 1,935.33 4.14% Date of allotment 13th May, 2003 18th October, 2005 floating rate assets commensurate 9 Bank of India P1+ 1,411.94 3.02% with the credit risk. The Scheme 10 Punjab National Bank PR1+ 1,382.71 2.96% may also invest in fixed rate debt ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are 11 Kotak Mahindra Bank P1+ 918.37 1.97% securities. calculated on ` 10/- invested at inception, viz. date of allotment. All returns are 12 State Bank of Travancore PR1+ 650.87 1.39% 13 State Bank of Hyderabad A1+ 650.68 1.39% for Growth Option. Past performance may or may not be sustained in future and ASSET ALLOCATION should not be used as a basis for comparison with other investments. Floating rate debt securities* or 14 State Bank of Patiala A1+ 321.83 0.68% money market securities: 65% to Total 30,428.41 65.09% 100%; Fixed rate debt securities: 0% to 35% (*Debt securities may include Commercial Paper Rating Profile securitized debts upto 60% of the net 15 Housing Development Finance Corporation A1+ 2,397.43 5.13% assets). 16 Housing Development Finance Corporation P1+ 756.40 1.62% AAA 24.40% CASH & EQUIVALENT 0.81% 17 Sesa Goa P1+ 376.48 0.81% A1+ / P1+ / PR1 +/ F1+ 74.79% REDEMPTION PROCEEDS Total 3,530.31 7.56% Normally within 2 Business Days from acceptance of redemption *The rating indicates that the ‘Scheme’s’ portfolio holdings provide very strong request. BONDS & NCDs protection against losses from credit defaults. Past performance is no Listed / awaiting listing on the stock exchanges guarantee of future results. FEATURES 18 Housing Development Finance Corporation AAA 4,021.09 8.61% • Minimum investment and minimum 19 Rural Electrification Corporation AAA 1,959.79 4.19% Please refer page no. 27 for details on the Rating Methodology. additional purchase 20 Infrastructure Development Finance Company LAAA 1,196.20 2.56% - Regular Plan (RP): ` 5,000/- 21 LIC Housing Finance AAA 1,093.24 2.34% and ` 1,000/- thereafter. 22 Shriram Transport Finance Company F1+ 1,000.59 2.14% - Institutional Plan (IP): ` 1 crore 23 National Housing Bank AAA 968.43 2.07% and ` 1,000/- thereafter. 24 Small Industries Development Bank of India AAA 594.41 1.27% • Options available: (for both plans) 25 NABARD AAA 99.74 0.21% • Growth Total 10,933.49 23.39% • Dividend - Reinvest Dividend Unlisted - Payout Dividend 26 Tata Sons AAA 1,471.41 3.15% • Daily Dividend Reinvest Total 1,471.41 3.15% • Weekly Dividend - Reinvest Dividend - Payout Dividend (Only in IP) CBLO / Reverse Repo Investments 184.91 0.40% Total 184.91 0.40% • Entry load: Nil • Exit load: Nil Cash & Cash Equivalents Net Receivable/Payable 180.70 0.41% NAV AS ON Total 180.70 0.41% Grand Total 46,729.23 100.00% July 29, 2011Notes: 1. Modified duration 0.68 years. 2. Average Maturity 0.75 years. 3. All Regular Plancorporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, FITCH. Growth - ` 16.13954. Total Expense Ratio (F.Y. beginning to date): IP: 0.50% RP: 0.80% Dividend - ` 10.7389 Weekly Dividend - ` 10.0374 Daily Dividend Reinvest- ` 10.0312 Institutional Plan Growth - ` 1,451.4552 Dividend - ` 1,021.8518 Daily Dividend Reinvest - ` 1000.8475 Weekly Dividend - ` 1,000.6474 19
    • RATED mfAAA by ICRA^ & CRISIL MUTUAL FUND RANK 1* DSP BlackRock Money Manager FundFUND MANAGERDhawal Dalal PortfolioTotal work experience of 14 years. Sr. Name of Instrument Rating/Industry Market value % to Net 46 National Housing Bank AAA 2,484.00 0.96%Managing this Scheme since No. (` lakh) Assets 47 Rural Electrification Corporation AAA 1,500.58 0.58%September 2007 48 Bajaj Auto Finance AA+ 499.41 0.19% MONEY MARKET INSTRUMENT 49 Sundaram Finance AA+(ind) 498.70 0.19% Certificate of Deposit 50 NABARD AAA 498.33 0.19%INVESTMENT OBJECTIVE 51 LIC Housing Finance FRN AAA 397.90 0.15%An Open ended income Scheme, 1 Axis Bank P1+ 14,515.35 5.59%seeking to generate reasonable 2 IDBI Bank P1+ 9,414.54 3.63% Total 33,878.85 13.05%returns commensurate with low 3 Oriental Bank of Commerce P1+ 8,415.53 3.24%risk and a high degree of liquidity, from a portfolio constituted of 4 Andhra Bank PR1+ 8,167.88 3.15% Unlistedmoney market securities and high 5 State Bank of Patiala A1+ 7,236.26 2.79% 52 Tata Sons AAA 980.94 0.38%quality debt securities. 6 Bank of India P1+ 7,186.78 2.77% Total 980.94 0.38% 7 Canara Bank P1+ 5,997.46 2.30% 8 Allahabad Bank P1+ 5,943.26 2.29% CBLO / Reverse Repo Investments 43,788.99 16.88%ASSET ALLOCATION 9 Yes Bank A1+ 5,942.44 2.29%Money market securities and/ Total 43,788.99 16.88%or debt securities* which have 10 Punjab National Bank PR1+ 5,855.64 2.25%residual or average maturity of 11 Central Bank of India PR1+ 5,694.08 2.19% Cash & Cash Equivalentsless than or equal to 367 days or have put options within a period not 12 The Federal Bank P1+ 4,987.57 1.92% Net Receivable/Payable (4,390.57) (1.69%)exceeding 367 days. : 65% - 100% 13 Bank of Baroda A1+ 4,819.73 1.86% Total (4,390.57) (1.69%) 14 HDFC Bank PR1+ 4,757.20 1.83% Grand Total 259,578.72 100.00%Debt securities* which have residual 15 Kotak Mahindra Bank P1+ 4,353.18 1.67%or average maturity of more than 367 days : 0% - 50% 16 ICICI Bank A1+ 3,493.41 1.34% Notes: 1. Modified duration 0.26 years. 2. Average Maturity 0.29 years. 3. All 17 Indian Overseas Bank A1+ 3,232.21 1.25% corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, FITCH. *Debt securities may include 18 Union Bank of India A1+ 2,483.75 0.96% 4. Total Expense Ratio (F.Y. beginning to date): IP: 0.40% RP: 0.70% securitised debts upto 75% of the net assets 19 Bank of Baroda P1+ 1,882.35 0.73% 20 State Bank of Travancore P1+ 1,696.49 0.65% Comparative performance 21 HDFC Bank P1+ 1,436.15 0.55%REDEMPTION 22 Allahabad Bank A1+ 986.80 0.38% COMPOUNDED ANNUALISED RETURNPROCEEDS 23 Corporation Bank PR1+ 799.22 0.31% CRISIL CRISILNormally within 3 Business Days 24 State Bank of Mysore A1+ 796.79 0.31% PERIOD DSPBRMMF - LIQUID DSPBRMMF - LIQUIDfrom acceptance of redemption 25 IDBI Bank A1+ 497.99 0.19% REGULAR FUND INSTITUTIONAL FUNDrequest. Total 120,592.06 46.44% INDEX^ INDEX^ Last 6 months 4.08% 3.87% 4.23% 3.87% Commercial PaperFEATURES 26 Housing Development Finance Corporation A1+ 12,946.14 4.99% Last 1 Year 7.56% 7.36% 7.87% 7.36% • Minimum investment and minimum 27 India Infoline Investment Services A1+ 7,430.98 2.86% Last 3 Year 6.20% 6.24% 6.50% 6.24% additional purchase 28 Gruh Finance P1+ 7,321.99 2.82% - Regular Plan (RP): ` 5,000/- Since Inception 6.69% 6.60% 7.03% 6.60% 29 JM Financial Products P1+ 6,953.94 2.68% and ` 1,000/- thereafter. NAV / Index Value (July 29) ` 1,382.0552 ` 1,698.62 ` 1,404.3974 ` 1,698.62 - Institutional Plan (IP): ` 1crore 30 Power Finance Corporation A1+ 4,979.21 1.92% 31 Morgan Stanley India Capital F1+(ind) 4,808.80 1.85% Date of allotment 31st July, 2006 and ` 1,000/- thereafter. 32 Kotak Mahindra Prime P1+ 4,342.50 1.67%• Options/ Sub Options available: ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are 33 Indian Oil Corporation P1+ 2,495.71 0.96% • Growth calculated on ` 10/- invested at inception, viz. date of allotment. All returns are 34 Turquoise Investment and Finance P1+ 2,465.74 0.95% • Weekly Dividend for Growth Option. Past performance may or may not be sustained in future and 35 NABARD P1+ 2,465.43 0.95% - Reinvest Dividend should not be used as a basis for comparison with other investments. 36 Tata Motors Finance A1+ 2,410.22 0.93% - Payout Dividend 37 Bajaj Finance A1+ 2,288.93 0.88% (available only in IP) Total 60,909.57 23.46% • Daily Dividend Reinvest• Entry load: Nil Rating Profile• Exit load: Nil Treasury Bill SOV 1.47% A1+/ P1+/PR1+/F1+ 69.90% 38 TBILL 91 DAY 2011 SOV 791.93 0.31% AAA 13.06% CASH & EQUIVALENT 15.19% Total 791.93 0.31% AA+ 0.38%NAV AS ON CMBJuly 29, 2011 39 CMB 35 Day 2011 SOV 2,998.72 1.16% ^The rating indicates that the underlying portfolio has the lowest credit risk Total 2,998.72 1.16% and highest degree of safety from credit losses. The ratings should, however, Regular Plan not be construed as an indication of the prospective performance of the Growth - ` 1,382.0552 SECURITISED DEBT INSTRUMENTS Mutual Fund scheme or of volatility in its returns. Past performance is noWeekly Dividend - ` 1001.0111 Royal Trust PTC Series A1 - May2004 - 40 AAA(ind)(SO) 28.22 0.01% guarantee of future results.Daily Dividend (Citibank N.A.)Reinvest - ` 1,002.2851 Total 28.22 0.01% *DSP BlackRock Money Manager Fund - Growth. ‘Open End Ultra Short Term Debt Schemes’ category, ranks within Top 10 percentile of the 40 schemes Institutional Plan BONDS & NCDs considered, 1 year period ending Jun 30, 2011. Past performance is noGrowth - ` 1,404.3974 Listed / awaiting listing on the stock guarantee of future results.Weekly Dividend `- 1,001.0234Daily Dividend exchanges 41 Housing Development Finance Corporation AAA 10,696.81 4.12% Please refer page no. 27 for details on the Rating Methodology.Reinvest- ` 1,000.8000 Infrastructure Development Finance 42 AAA 6,893.31 2.66% Company 43 LIC Housing Finance AAA 4,938.97 1.90% 44 Axis Bank FRN LAAA 2,975.42 1.15% 45 Small Industries Development Bank of India AAA 2,495.43 0.96% 20
    • DSP BlackRock Short Term FundPortfolio FUND MANAGER Dhawal Dalal Sr. Name of Instrument No. Rating/Industry Market value (` lakh) % to Net Assets Comparative performance Total work experience of 14 years. Managing this Scheme since September 2007 COMPOUNDED ANNUALISED RETURN MONEY MARKET INSTRUMENT PERIOD CRISIL LIQUID Certificate of Deposit DSPBRSTF FUND INDEX^ INVESTMENT OBJECTIVE 1 IDBI Bank P1+ 6,590.36 12.06% Last 6 months 4.41% 3.87% An Open Ended income Scheme, seeking to generate income commensurate with 2 Central Bank of India PR1+ 4,707.27 8.61% Last 1 Year 7.64% 7.36% prudent risk, from a portfolio 3 ICICI Bank A1+ 2,184.64 4.00% Last 3 Years 6.42% 6.24% constituted of money market securities, 4 Canara Bank P1+ 1,931.46 3.53% Last 5 Years 6.68% 6.60% floating rate debt securities and debt 5 State Bank of Patiala P1+ 1,883.12 3.45% Since Inception 6.33% 5.78% securities. 6 Andhra Bank PR1+ 1,002.65 1.83% NAV / Index Value (July 29) ` 17.2512 1,698.62 7 State Bank of Hyderabad P1+ 944.83 1.73% Date of allotment 9th September, 2002 ASSET ALLOCATION 8 State Bank of Mysore P1+ 944.37 1.73% 50% - 100%.: Money Market 9 Dena Bank PR1+ 941.73 1.72% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are Securities, Floating rate debt 10 Oriental Bank of Commerce P1+ 848.28 1.55% securities** whose coupon(s) are calculated on ` 10/- invested at inception, viz. date of allotment. All returns are reset at least once a year, *fixed rate 11 State Bank of Mysore A1+ 367.98 0.67% for Growth Option. Past performance may or may not be sustained in future and debt securities** having an average 12 State Bank of Patiala A1+ 19.41 0.04% or residual maturity of less than should not be used as a basis for comparison with other investments. 13 Corporation Bank PR1+ 9.40 0.02% or equal to 367 days or having put options within a period not exceeding Total 22,375.51 40.94% 367 days. Commercial Paper Rating Profile 0% - 50%: Fixed rate debt securities** having residual or average maturity of more than 367 days and floating 14 Housing Development Finance Corporation A1+ 3,835.89 7.02% AAA 8.93% AA- 1.86% rate debt security where the 15 Fullerton India Credit Company A1+ 2,263.27 4.14% AA+ 18.31% A1+ / P1+ / PR1+ / F1+ 54.85% next reset date is more than 367 Total 6,099.16 11.16% AA 11.40% CASH & EQUIVALENT 4.65% days from the date of purchase. *Floating rate debt securities will include fixed rate debt SECURITISED DEBT INSTRUMENTS securities swapped for floating Royal Trust PTC Series A2 - May2004 - rate returns by using derivatives 16 AAA(ind)(SO) 665.88 1.22% **Debt securities may include (Citibank N.A.) securitised debts up to 60% of the Royal Trust PTC Series A1 - May2004 - net assets 17 AAA(ind)(SO) 11.29 0.02% (Citibank N.A.) Total 677.17 1.24% REDEMPTION PROCEEDS Normally within 1 Business Day from BONDS & NCDs acceptance of redemption request. Listed / awaiting listing on the stock exchanges 18 Shriram Transport Finance Company AA 4,252.84 7.78% FEATURES 19 Sundaram BNP Home Finance AA+ 2,514.12 4.60% • Minimum first purchase: ` 5,000 20 Sundaram Finance LAA+ 2,500.89 4.58% • Minimum additional purchase: ` 1,000 21 Bajaj Finance LAA+ 2,498.54 4.57% 22 Kotak Mahindra Prime LAA 1,978.24 3.62% • Options available: 23 Tata Capital AA+ 1,499.41 2.74% • Growth 24 Prism Cement LAA- 1,018.12 1.86% • Weekly Dividend Reinvest • Monthly Dividend 25 Shriram Transport Finance Company F1+ 1,000.59 1.83% - Payout Dividend 26 Power Finance Corporation @ AAA 1,000.00 1.83% - Reinvest Dividend 27 Mahindra & Mahindra Financial Services AA+ 997.20 1.82% • Dividend Reinvest 28 Sundaram Finance P1+ 500.96 0.92% - Reinvest Dividend 29 Power Grid Corporation of India AAA 496.67 0.91% - Payout Dividend 30 NABARD AAA 100.26 0.18% • Entry load: Nil 31 LIC Housing Finance FRN AAA 99.47 0.18% • Exit load: Total 20,457.31 37.42% • Holding Period: <=6 months: 0.5% Unlisted >6 months: Nil 32 Tata Sons AAA 2,511.22 4.59% Total 2,511.22 4.59% NAV AS ON CBLO / Reverse Repo Investments 1,524.28 2.79% July 29, 2011 Total 1,524.28 2.79% Growth - ` 17.2512 Cash & Cash Equivalents Weekly Dividend Net Receivable/Payable 1,009.33 1.86% Reinvest - ` 10.1825 Total 1,009.33 1.86% Dividend - ` 11.0198 Grand Total 54,653.98 100.00% Monthly Dividend - ` 10.8121Notes: 1. Modified Duration 1.32 years. 2. Average Maturity 1.63 years. 3. All corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, FITCH.4. Total Expense Ratio (F.Y. beginning to date): 0.94%. 5. @Pending Allotment 21
    • DSP BlackRock Bond FundFUND MANAGERDhawal Dalal Portfolio Comparative performanceTotal work experience of 14 years. Sr. Name of Instrument Rating/Industry Market value % to Net COMPOUNDED ANNUALISED RETURNManaging this Scheme since No. (` lakh) Assets PERIOD CRISIL COMPOSITE BONDApril 1997 DSPBRBF FUND INDEX^ MONEY MARKET INSTRUMENT Last 6 months 3.44% 3.44% CENTRAL GOVERNMENT SECURITIES Last 1 Year 3.93% 5.34% INVESTMENT OBJECTIVE 1 07.83% CGL 2018 SOV 483.45 11.80% Last 3 Years 7.49% 7.14% An Open Ended income Scheme, 2 07.80% CGL 2021 SOV 478.55 11.68%seeking to generate an attractive Last 5 Years 6.04% 6.05% Total 962.00 23.48%return, consistent with prudent risk, Since Inception 8.58% NA#from a portfolio which is substantially SECURITISED DEBT INSTRUMENTS NAV / Index Value (July 29) ` 32.3518 1,699.88constituted of high quality debt securities, predominantly of issuers 3 India MBS PTC Series 1D (LIC HF) AAA(SO) 68.37 1.67% Date of allotment 29th April, 1997domiciled in India. As a secondary Total 68.37 1.67%objective, the Scheme will seek ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns capital appreciation. BONDS & NCDs are calculated on ` 10/- invested at inception, viz. date of allotment. All returns Listed / awaiting listing on the stock exchanges are for Growth Option. #Since historical data for the benchmark is not available, 4 Prism Cement LAA- 509.06 12.42% performance has not been compared. Past performance may or may not beASSET ALLOCATION 5 Reliance Ports And Terminals AAA 506.22 12.35% sustained in future and should not be used as a basis for comparison with other*Debt & Money market securities : 6 LIC Housing Finance AAA 502.92 12.27% investments.Entire 100%. 7 Kotak Mahindra Prime LAA 499.70 12.19% Mahindra & Mahindra Financial * Debt securities may include 8 Services AA+ 498.60 12.17% Rating Profilesecuritised debts up to 50% of the 9 Power Grid Corporation of India AAA 480.67 11.73%net assets SOV 23.48% AA 12.19% Total 2,997.17 73.13% AAA 38.02% AA- 12.42% AA+ 12.17% CASH & EQUIVALENT 1.72% CBLO / Reverse Repo Investments 49.98 1.22%REDEMPTION Total 49.98 1.22%PROCEEDS Cash & Cash EquivalentsNormally within 3 Business Days from acceptance of redemption Net Receivable/Payable 20.09 0.50%request. Total 20.09 0.50% Grand Total 4,097.61 100.00% Notes: 1. Modified Duration 3.59 years. 2. Average Maturity 5.09 years. 3. All FEATURES corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, FITCH. • Minimum first purchase: ` 5,000 4. Total Expense Ratio (F.Y. beginning to date): 2.23% • Minimum additional purchase: ` 1,000• Options available: • Growth • Monthly Dividend - Payout Dividend - Reinvest Dividend • Dividend - Payout Dividend - Reinvest Dividend• Entry load: Nil• Exit Load: Holding Period:­­­<=6 months: 0.5% >6 months: NilNAV AS ONJuly 29, 2011Growth - ` 32.3518Dividend - ` 11.0336Monthly Dividend - ` 11.1609 22
    • RATED mfAAADSP BlackRock Strategic Bond Fund by ICRA^Portfolio Comparative performance FUND MANAGER Dhawal Dalal Sr. Name of Instrument Rating/Industry Market value % to Net Total work experience of 12 years. COMPOUNDED ANNUALISED RETURN No. (` lakh) Assets Managing this Scheme since CRISIL CRISIL May 2007 PERIOD DSPBRSBF - COMPOSITE DSPBRSBF COMPOSITE MONEY MARKET INSTRUMENT REGULAR BOND FUND - INSTITUTIONAL BOND FUND Kushal M. Choksi Certificate of Deposit INDEX^ INDEX^ Total work experience of 10 years. 1 Bank of India P1+ 9,450.55 15.81% Managing this Scheme since Last 6 months 4.07% 3.44% 4.28% 3.44% 2 Dena Bank PR1+ 6,397.40 10.70% March 2011 3 Corporation Bank PR1+ 4,701.27 7.86% Last 1 year 6.51% 5.34% 7.00% 5.34% 4 Punjab National Bank PR1+ 4,035.45 6.75% Last 3 year 6.09% 7.14% -- -- INVESTMENT OBJECTIVE An Open ended income Scheme, 5 Vijaya Bank PR1+ 3,941.29 6.59% seeking to generate optimal returns Since Inception 5.93% 6.50% 5.81% 7.05% 6 HDFC Bank P1+ 957.44 1.60% with high liquidity through active NAV / Index Value (July 29) ` 1,275.2971 1,699.88 ` 1,165.4439 1,699.88 management of the portfolio by 7 Canara Bank P1+ 379.65 0.64% investing in high quality debt and 8 Oriental Bank of Commerce P1+ 329.90 0.55% Date of allotment 9th May, 2007 money market securities. 9 The Federal Bank P1+ 138.53 0.23% 10 Indian Overseas Bank A1+ 94.64 0.16% ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are ASSET ALLOCATION calculated on ` 10/- invested at inception, viz. date of allotment. All returns are for Money market securities and/ Total 30,426.12 50.89% Growth Option. ‘Since inception’ returns have been calculated from Nov 12, 2008 or debt securities* which have residual or average maturity of as there were no investors in this plan for a significiant period before this date. less than or equal to 367 days or Commercial Paper #Since historical data for the benchmark is not available, performance has not have put options within a period not 11 Fullerton India Credit Company A1+ 2,353.76 3.94% been compared. Past performance may or may not be sustained in future and exceeding 367 days. : 0% - 100% Total 2,353.76 3.94% should not be used as a basis for comparison with other investments. Debt securities* which have residual or average maturity of more than CENTRAL GOVERNMENT SECURITIES 367 days : 0% - 100% 12 07.80% CGL 2021 SOV 3,828.40 6.40% Rating Profile *Debt securities may include 13 08.26% CGL 2027 SOV 1,928.96 3.23% securitised debts upto 75% of the SOV 9.63% AA- 1.70% net assets Total 5,757.36 9.63% AAA 14.51% A1+ / P1+ / PR1+ / F1+ 56.50% AA+ 10.06% CASH & EQUIVALENT 2.62% REDEMPTION BONDS & NCDs AA 4.98% PROCEEDS Listed / awaiting listing on the stock exchanges Normally within 3 Business Days 14 Kotak Mahindra Prime LAA 2,977.65 4.98% from acceptance of redemption 15 Sundaram BNP Home Finance AA+ 2,514.12 4.21% *The rating indicates that the underlying portfolio has the lowest credit risk and request. 16 Power Finance Corporation @ AAA 2,500.00 4.19% highest degree of safety from credit losses. The ratings should, however, not be 17 Bajaj Finance LAA+ 2,498.54 4.18% construed as an indication of the prospective performance of the Mutual Fund FEATURES scheme or of volatility in its returns. Past performance is no guarantee • Minimum investment and 18 LIC Housing Finance AAA 2,099.23 3.51% minimum additional purchase 19 Reliance Ports And Terminals AAA 2,024.87 3.39% of future results. - Regular Plan (RP): ` 5,000/- and 20 NABARD AAA 1,050.13 1.76% Please refer page no. 27 for details on the Rating Methodology. ` 1,000/- thereafter. 21 Prism Cement LAA- 1,018.12 1.70% - Institutional Plan (IP): ` 1 crore 22 Shriram Transport Finance Company F1+ 1,000.59 1.67% and ` 1,000/- thereafter 23 Mahindra & Mahindra Financial Services AA+ 997.20 1.67% • Options available: 24 LIC Housing Finance FRN AAA 994.74 1.66% • Growth Total 19,675.18 32.92% • Weekly Dividend - Payout Dividend (available only in IP) CBLO / Reverse Repo Investments 2,128.95 3.56% - Reinvest Dividend Total 2,128.95 3.56% • Daily Dividend Reinvest • Monthly Dividend - Payout Dividend (available Cash & Cash Equivalents only in IP) Net Receivable/Payable (561.16) (0.94%) - Reinvest Dividend • Dividend Total (561.16) (0.94%) - Payout Dividend Grand Total 59,780.21 100.00% - Reinvest Dividend • Entry load: NilNotes: 1. Modified duration 1.88 years. 2. Average Maturity 2.82 years. 3. All • Exit load: corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, FITCH. Holding Period:4. Total Expense Ratio (F.Y. beginning to date): IP: 0.51% RP: 0.90%. 5. @Pending ­­­<=7 calendar days: 0.1%Allotment ­­­>7 calendar days: Nil NAV AS ON July 29, 2011 Regular Plan Growth - ` 1,275.2971 Monthly Dividend - ` 1028.2171 Dividend - ` 1046.9305 Daily Dividend Reinvest - ` 1000.7183 Weekly Dividend - ` 1003.8577 Institutional Plan Growth - ` 1165.4439 Monthly Dividend - ` 1030.5534 Dividend - ` 1028.3777 Daily Dividend Reinvest- ` 1001.3899 Weekly Dividend - ` 1003.1444 23
    • DSP BlackRock Government Securities FundFUND MANAGER Portfolio Comparative performanceDSPBRGF: Sr. Name of Instrument Rating/Industry Market value % to Net Assets COMPOUNDED ANNUALISED RETURNDhawal DalalTotal work experience of 14 years. No. (` lakh) PERIOD LONG ICICI SECURITIESManaging this Scheme since May DSPBRGF SOVEREIGN BOND FUND INDEX^2003 CENTRAL GOVERNMENT SECURITIES Last 6 months 0.57% 3.29% 1 07.80% CGL 2021 SOV 5,178.29 54.21%DSPBRTBF: 2 08.08% CGL 2022 SOV 967.21 10.13% Last 1 Year 2.13% 5.60% Dhawal Dalal &Vivek Ved: Total work experience 3 07.83% CGL 2018 SOV 966.90 10.12% Last 3 Years 10.87% 11.50% of 12 years. Managing this Scheme Total 7,112.40 74.46% Last 5 Years 8.36% 8.67% since March 2011 Since Inception 10.68% 11.66% CBLO / Reverse Repo Investments 2,190.37 22.93% Total 2,190.37 22.93% NAV / Index Value (July 29) ` 33.2425 6,917.95INVESTMENT OBJECTIVE Date of allotment 30th Sept. 1999 Cash & Cash EquivalentsDSPBRGF: An Open Ended income ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are Net Receivable/Payable 248.93 2.61%Scheme, seeking to generate income calculated on ` 10/- invested at inception, viz. date of allotment. All returns are through investment in Central Total 248.93 2.61%Government Securities of various Grand Total 9,551.70 100.00% for Growth Option. Past performance may or may not be sustained in future andmaturities. should not be used as a basis for comparison with other investments. Notes: 1. Modified Duration 4.84 years. 2. Average Maturity 7.29 years. 3. Total DSPBRTBF: An Open ended income Expense Ratio: (F.Y. beginning to date) 1.24% Scheme, seeking to generate income through investment in Treasury NAV AS ON July 29, 2011Bills and other Central Government Growth - ` 33.2425Securities having maturities of less Dividend - ` 11.6429than or equal to 1 year. Monthly Dividend - ` 10.5300 ASSET ALLOCATIONDSPBRGF: Central Government Securities, repos / reverse repos in Central Government Securities as may be permitted by Reserve Bank of India : 80% - 100% Call money market or alternative investment for call money market as may be provided by the Reserve Bank of India : 0% - 20%DSPBRTBF: Treasury Bills issued DSP BlackRock Treasury Bill Fundby the Government of India, Repo, Reverse Repo, CBLO, and any other money market instrument permitted by the RBI for deploying surplus liquidity: 0% - 100% Portfolio Comparative performanceREDEMPTION Sr. Name of Instrument Rating/Industry Market value % to Net Assets COMPOUNDED ANNUALISED RETURN No. (` lakh)PROCEEDS (for both Schemes) PERIOD DSPBRTBF SHORT ICICI SECURITIES SOVEREIGNNormally within 2 Business Days BOND FUND INDEX^ MONEY MARKET INSTRUMENTfrom acceptance of redemption Treasury Bill Last 6 months 3.24% 2.90% request 1 TBILL 91 DAY 2011 SOV 197.98 81.32% Last 1 Year 5.99% 5.71% Total 197.98 81.32% Last 3 Years 4.46% 7.97% FEATURES (for both Schemes)• Minimum first purchase: ` 5,000 CBLO / Reverse Repo Investments 79.96 32.84% Last 5 Years 5.08% 7.43% • Minimum additional purchase: Total 79.96 32.84% Since Inception 6.40% 7.98% ` 1,000 NAV / Index Value (July 29) ` 20.8500 3,983.46• Options available: Cash & Cash Equivalents Date of allotment 30th Sept. 1999 • Growth Net Receivable/Payable (34.47) (14.16%) • Dividend Total (34.47) (14.16%) ^Benchmark. Returns < 1 year are absolute returns. “Since inception” returns are - Payout Dividend Grand Total 243.47 100.00% calculated on ` 10/- invested at inception, viz. date of allotment. All returns are - Reinvest Dividend • Monthly Dividend Notes: 1. Modified Duration 0.08 years. 2. Average Maturity 0.09 years. 3. Total for Growth Option. Past performance may or may not be sustained in future and - Payout Dividend Expense Ratio: (F.Y. beginning to date) 0.50% should not be used as a basis for comparison with other investments. - Reinvest Dividend • Entry load: Nil NAV AS ON July 29, 2011• Exit Load : Nil for DSPBRTBF Growth - ` 20.8500 For DSPBRGF Dividend - ` 11.2957 Holding Period: Monthly Dividend - ` 10.1813 <=7 calendar days: 0.10% >7 calendar days: Nil 24
    • Dividend History DSPBRSF^ DSPBRBF^ DSPBRTEF (Regular Plan)~ Dividend per Unit (`) Dividend per Unit (`) Record Date Dividend per Unit (`) NAV (`) Record Date NAV (`) Record Date NAV (`) Individuals/HUF Others Individuals/HUF Others 03-Sep-10 1.25 21.991 24-Jul-09 2.00 19.339 MIP# (during the last quarter) Monthly Dividend Option (during the last quarter) 23-May-08 5.00 23.8800 28-Jun -11 0.060000 0.051426 10.9465 28-Jul-11 0.084744 0.072634 11.2553 15-Jun-07 5.00 24.896 27-May-11 0.060000 0.055999 10.9063 28-Jun-11 0.086506 0.074144 11.2560 10-Apr-06 7.50 27.43 28-Apr-11 0.060000 0.055999 11.1333 28-Apr-11 0.023168 0.021623 11.1832 QIP (during the last 3 quarters) Dividend Option (during the last 3 years) DSPBROF (Regular Plan)~ 28-Jun-11 0.180000 0.154279 11.6884 28-Jun-11 0.111612 0.095662 11.0630 Record Date Dividend per Unit (`) NAV (`) 28-Sep-10 0.131763 0.122805 11.7928 28 Mar-11 0.080288 0.074829 11.0080 28-Jun-10 0.088721 0.082689 11.6910 28-Feb-11 0.005534 0.005158 10.9110 11-Feb-11 2.00 28.297 28-Jun-10 0.224524 0.209259 11.1418 26-Feb-10 3.00 27.829 26-Mar-10 0.059564 0.055438 10.9103 28-Mar-08 4.00 29.4860 8-Mar-07 5.00 28.219 DSPBRGF^ 28-Dec-09 0.059652 0.055519 10.9096 24-Jan-06 5.00 27.60 28-Sep-09 0.029695 0.027637 10.8561 Dividend per Unit (`) Record Date NAV (`) Individuals/HUF Others DSPBRITF (Regular Plan) DSPBRFRF (Regular Plan)^ Monthly Dividend Option (during the last quarter) Record Date Dividend per Unit (`) NAV (`) Dividend per Unit (`) 28-Mar-11 0.071503 0.066642 10.7167 Record Date NAV (`) 09-Sep-10 1.25 21.035 28-Dec-10 0.059469 0.055426 10.6903 Individuals/HUF Others 19-Jun-09 2.00 17.299 26-Nov-10 0.025474 0.023742 10.6571 Dividend Option (during the last 3 years) 22-Feb-08 5.00 26.965 Dividend Option (during the last 3 years) 0.173011 0.148288 10.8542 21-Mar-07 4.50 21.964 28-Jun-11 28-Mar-11 0.112438 0.104793 11.8873 28-Mar-11 0.161366 0.150395 10.8148 27-Feb-06 4.50 21.72 28-Feb-11 0.052178 0.048631 11.7851 28-Dec-10 0.130358 0.121495 10.7639 28-Dec-10 0.099789 0.093004 11.8310 28-Sep-10 0.108599 0.101216 10.7246 DSPBRTSF ~ 28-Jun-10 0.270114 0.251750 11.9948 28-Jun-10 0.095221 0.088747 10.6941 26-Dec-08 1.994963 1.856759 13.7825 26-Mar-10 0.086456 0.080466 10.6540 Record Date Dividend per Unit (`) NAV (`) 26-Sep-08 0.424833 0.395402 11.7085 28-Dec-09 0.089872 0.083646 10.6519 4-Mar-11 0.50 12.096 28-Mar-08 0.271543 0.252731 11.6683 28-Sep-09 0.079711 0.074189 10.6303 26-Jun-09 29-Feb-08 3.60 14.755 0.105113 0.097831 10.6427 26-Mar-09 0.157670 0.146747 10.6750 16-Feb-09 0.000781 0.000727 10.5936 DSPBRTF (Regular Plan)~ DSPBRTBF^ Dividend per Unit (`) Record Date Dividend per Unit (`) NAV (`) Record Date NAV (`) Individuals/HUF Others DSPBRSTF^ 04-Jan-08 10.00 37.138 Monthly Dividend Option (during the last 3 months) Dividend per Unit (`) Record Date NAV (`) DSPBRwGF (Regular Plan)~ 28-Jul-11 0.048274 0.041376 10.2342 Individuals/HUF Others 28-Jun-11 0.047834 0.040998 10.2318 Dividend per Unit (`) 27-May-11 0.042812 0.039957 10.2207 Monthly Dividend Option (during the last 3 months) Record Date NAV (`) 28-Jul-11 0.073732 0.063196 10.8931 Individuals/HUF Others Dividend Option (during the last 3 years) 28-Jun-11 0.080075 0.068632 10.8959 19-Nov-10 0.878421 0.818699 16.2184 28-Jun-11 0.141034 0.120880 11.3911 27-May-11 0.054705 0.051056 11.8605 30-May-11 0.042812 0.039957 11.3307 10-Jul-09 1.313917 1.222893 11.8014 28-Mar-11 0.145027 0.135167 11.3763 Dividend Option (during the last 3 years) 28-Feb-11 0.045151 0.042081 11.3214 28-Jun-11 0.194505 0.166711 11.1486 28 -Jan-11 0.045854 0.042736 11.2620 0.054705 0.051056 11.0555 DSPBRSMF ~ 30-May-11 28-Dec-10 0.126141 0.117565 11.3418 28-Mar-11 0.151879 0.141553 11.0701 Record Date Dividend per Unit (`) NAV (`) 28-Sep-10 0.087754 0.081788 11.2824 28-Feb-11 0.048313 0.045028 10.9938 0.061050 0.056900 11.2371 28-Dec-10 18-Mar-11 1.25 14.799 28-Jun-10 0.128425 0.119694 11.0180 26-Mar-10 0.056323 0.052421 11.2092 28-Sep-10 0.125439 0.116910 11.0012 28-Dec-09 0.048878 0.045492 11.1964 28-Jul-10 0.040934 0.038151 10.8934 DSPBRNRNEF ~ 28-Sep-09 0.042483 0.039540 11.1837 28-Jun-10 0.104356 0.097261 10.9619 26-Jun-09 0.041607 0.038725 11.1742 26-Mar-10 0.098544 0.091717 10.9211 Record Date Dividend per Unit (`) NAV (`) 28-Dec-09 0.111070 0.103375 10.9284 25-Mar-11 1.50 14.1130 28-Sep-09 0.055009 0.051198 10.8539 DSPBRSBF (Regular Plan)^ 26-Jun-09 0.061316 0.057068 10.8435 Investors may note that the difference in dividend per unit for 26-Mar-09 0.140510 0.130442 10.9067 Dividend per Unit (`) Individuals and Others, in the case of debt oriented Schemes, Record Date NAV (`) is due to differential rate of applicable Dividend Distribution Tax Individuals/HUF Others (DDT). Monthly Dividend Option (during the last quarter) DSPBRBalF~ 5-May-11 3.926752 3.664885 1,026.1688 Pursuant to payments of dividend, the NAV of the Schemes Record Date Dividend per Unit (`) NAV (`) 5-Apr-11 6.558467 6.112571 1,029.0200 would fall to the extent of payout, and statutory levy, if any 7-Feb-11 2.947103 2.746735 1,024.3300 11-Mar-11 2.00 22.771 5-Mar-10 3.00 23.445 # Monthly income is not assured and is subject to availability of Dividend Option (during the last 3 years) 12-Dec-08 1.50 15.861 distributable surplus. 28-Jun-11 17.133469 14.685115 1,058.7000 21-Sept-07 6.00 27.1880 28-Mar-11 14.400747 13.421671 1,053.2100 22-Aug-06 28-Dec-10 8.080771 7.531377 1,044.2000 4.00 23.39 Past performance may or may not be sustained 28-Sep-10 9.324615 8.690655 1,044.5355 in future and should not be used as a basis for 28-Jun-10 7.419935 6.915469 1,041.0947 26-Mar-10 7.685010 7.152617 1,038.8276 DSPBREF (Regular Plan)~ comparison with other investments. 28-Dec-09 10.055141 9.358552 1,040.9729 28-Sep-09 4.144706 3.857574 1,033.4370 Record Date Dividend per Unit (`) NAV (`) For complete list of dividends, visit www.dspblackrock.com. 26-Jun-09 8.890835 8.274906 1,037.6587 4-Feb-11 3.50 49.7970 26-Mar-09 10.949305 10.190771 1,038.3198 19-Mar-10 6.50 52.112 20-Nov-09 3.00 53.082 25-Jan-08 7.00 56.408 25-Jan-07 7.00 47.722 19-Dec-05 6.00 37.29 25
    • List of Official Points of Acceptance of Transactions* DSP BlackRock Investment Managers Private Limited - Investor Service CentresAhmedabad 3rd­Eye­one,­Office­No­301,­3rd­Floor,­Opposite­Havmor­Restaurant,­CG­Road,­Ahmedabad­-­380006Bengaluru HM­Geneva­House,­1st­Floor,­Office­No­104­to­107,­#­14­Cunningham­Road,­Bangalore­560052Bhubneshwar­ Lotus­House,­Office­premises­No.­3,­2nd­Floor,­Plot­No.­108­–­A,­Kharvel­Nagar,­Unit­III,­Master­Canteen­Square,­Bhubneshwar­–­751001.Chandigarh SCO­40-41,­Ground­Floor,­Sector­9-D,­Madhya­Marg,­Chandigarh­-­160017.Chennai SPS­Building­No­185,­1st­Floor,­Anna­Salai,­Chennai­-­600002.Coimbatore­ Tristar­Towers,­1st­Floor,­East­Wing,­657,­Avinashi­Road,­Coimbatore­-­641037.Goa­ Mathias­Plaza,­4th­Floor,­18­th­June­Road,­Panjim­,Goa­-­403001.Guwahati­ Mayur­Gardens,­Shop­No-5,­Upper­Ground­floor,­G­S­Road,­Guwahati­-­781005.Hyderabad Mahavir­Chambers,­1st­Floor,­Office­No­103,­Liberty­Junction,­Hyderabad­-­500029.Indore Starlit­Tower,­Office­No­206,­2nd­Floor,­29/1,­Y­N­Road,­Indore­-­452001.Jaipur­ Green­House,­Office­No­201-204,­O-15,­Ashok­Marg,­C­Scheme,­Jaipur­-­302001.Jamshedpur ShantiNiketan,­2nd­Floor,­Main­Road,­P.O­Bistupur,­Jamshedpur­-­831001Kanpur­ Kan­Chambers,­Office­No­701-703,­7th­Floor,­14/113,­Civil­Lines,­Kanpur­–­208001.Kochi Office­No­40­/­1045­H1,­6th­Floor,­Amrithaa­Towers,­M­G­Road,­Kochi­-­682001Kolkata­ Lords,­Office­No­301­&­309,­­7/1,­Lord­Sinha­Road,­Kolkatta­-­­700071.Lucknow­ Speed­Motors­Building,­3rd­Floor,­3­Shanazaf­Road,­Hazratganj,­Lucknow­-­226001.­Ludhiana­ ­SCO-32,­Regalia­Heights,­Ground­Floor,­Feroze­Gandhi­Market,­Pakhowal­Road,­Ludhiana­-­141001.Mangalore­ Maximus­Commercial­Complex,­Office­No­UGI-­5,­­Light­House­Hill­Road,­Mangalore­-­575001.Mumbai Maker­Chamber­VI,­Office­No.­126/127,­12th­Floor,­Jamnalal­Bajaj­Road,­Nariman­Point,­Mumbai­-­400­021.Nagpur Milestone,­Office­No.­108­&­109,­1st­Floor,­Ramdas­Peth,­Wardha­Road,­Nagpur­-­440010.Nashik Bedmutha’s­Navkar­Heights,­Office­No­1­&­2,­3rd­Floor,­New­Pandit­Colony,­Sharanpur­Road,­Nasik­-­422002.New Delhi Dr­Gopal­Das­Bhavan,­Upper­Ground­Floor,­Barakhamba­Road,­New­Delhi­-­110001.Patna­ Dukhan­Ram­Plaza,­Office­No­304,­3rd­Floor,­Exhibition­Road,­Patna­-­800001.Pune Business­Guild,­Office­No­306,­Law­College­Road,­Erandawane,­Pune­-­411004.Rajkot Hem­Arcade,­Office­No­303,­Opposite­Swami­Vivekanand­Statue,­Dr­Yagnik­Road,­Rajkot­-­360001.Surat International­Trade­Centre,­Office­No­G-28,­Majura­Gate­Crossing,­Ring­Road,­Surat­-­395002.Thiruvanathapuram Menathotam­Chambers,­TC-2442(7),­Pattom­PO,­Thiruvanathapuram­–­695004.Vadodara­ Sakar,­Office­No­402,­Opp­ABS­Tower,­Old­Padra­Road,­Vadodara­-­390007.Vishakapatnam­ Eswar­Arcade,­Cabin­No.11,­1st­Floor,­47-11-1/5,­Dwarka­Nagar,­1­Lane,­Vishakapatnam­-­530016. CAMS Investor Service Centres and Transaction Points* Visit www.camsonline.com for addresses•­ Agartala •­ Bikaner •­ Hazaribag •­ Kolkata:­­ ­ •­ Ongole •­ Sitapur•­ Agra •­ Bilaspur •­ Himmatnagar C.R.Avenue •­ Nizamabad •­ Solan•­ Ahmedabad •­ Bokaro •­ Hisar •­ Kolkata:­Howrah •­ Palakkad •­ Sonepat•­ Ahmednagar •­ Burdwan •­ Hoshiarpur­ •­ Kollam •­ Palanpur •­ Solapur•­ Ajmer •­ Calicut •­ Hosur •­ Kota •­ Panipat •­ Sriganganagar•­ Akola­ •­ Chandigarh •­ Hubli •­ Kottayam •­ Patiala •­ Srikakulam•­ Aligarh •­ Chandrapur •­ Hyderabad •­ Kumbakonam •­ Patna •­ Surat•­ Allahabad •­ Chhindwara •­ Ichalkaranji •­ Kurnool •­ Phatankot •­ Surendranagar•­ Alleppley •­ Chennai •­ Indore •­ Latur •­ Pondicherry •­ Sultanpur•­ Alwar •­ Chittorgarh •­ Itarsi •­ Lucknow •­ Porbandar •­ Thiruppur•­ Amaravati­ •­ Cochin •­ Jabalpur •­ Ludhiana •­ Proddatur •­ Tirunelveli•­ Ambala •­ Coimbatore •­ Jaipur •­ Madurai •­ Pune •­ Tirupathi•­ Amritsar •­ Cuttack •­ Jaipur­Road •­ Malda •­ Rae­Bareli •­ Tanjore•­ Anand •­ Darbhanga •­ Jalandhar •­ Mangalore •­ Raichur •­ Thiruvalla•­ Anantapur •­ Davenegere •­ Jalgaon •­ Manipal •­ Raipur •­ Tinsukia•­ Angul •­ Dehradun •­ Jalna •­ Mapusa •­ Rajahmundry •­ Trichur•­ Ankleshwar •­ Deoghar •­ Jammu •­ Margao •­ Rajapalayam •­ Trichy•­ Asansol •­ Dhanbad •­ Jamnagar •­ Mathura •­ Rajkot •­ Trivandrum•­ Aurangabad­ •­ Dharmapuri­ •­ Jamshedpur •­ Meerut •­ Ranchi •­ Tuticorin•­ Bagalkot •­ Dhule­ •­ Jaunpur •­ Mehsana •­ Ratlam •­ Udaipur•­ Balasore •­ Durgapur •­ Jhansi •­ Moga •­ Ratnagiri •­ Ujjain•­ Bangalore •­ Eluru •­ Jodhpur •­ Moradabad •­ Rohtak •­ Unjha•­ Barnala •­ Erode •­ Junagadh •­ Morbi •­ Roorkee •­ Vadodara•­ Bareilly •­ Faizabad •­ Kadapa •­ Mumbai:­Fort •­ Ropar •­ Valsad•­ Basti •­ Faridhabad •­ Kakinada •­ Mumbai:­Andheri •­ Rourkela •­ Vapi•­ Belgaum •­ Firozabad •­ Kalyani •­ Mumbai:­Thane •­ Sagar •­ Varanasi•­ Bellary •­ Gandhidham •­ Kanchipuram •­ Muzzafarpur •­ Saharanpur •­ Vashi•­ Berhampur •­ Ghaziabad •­ Kannur •­ Mysore •­ Salem •­ Vellore•­ Bhagalpur •­ Goa •­ Kanpur •­ Nadiad •­ Sambalpur •­ Veraval•­ Bharuch •­ Gondia •­ Karimnagar •­ Nagpur •­ Sangli •­ Vijayawada•­ Bhatinda •­ Gondal •­ Karnal •­ Nalgonda •­ Satara •­ Visakhapatnam•­ Bhavnagar •­ Gorakhpur •­ Karur •­ Namakkal •­ Satna •­ Warangal•­ Bhilai •­ Gulbarga •­ Katni •­ Nanded •­ Secunderabad •­ Wardha­•­ Bhiwani •­ Guntur •­ Kestopur •­ Nandyal •­ Shahjahanpur •­ Yamuna­Nagar•­ Bhilwara •­ Gurgaon •­ Khammam •­ Nasik •­ Shillong •­ Yavatmal•­ Bhopal •­ Guwahati •­ Kharagpur •­ Navsari •­ Shimla•­ Bhubaneswar •­ Gwalior •­ Khanna •­ Nellore •­ Shimoga•­ Bhuj •­ Haldia •­ Kolhapur •­ New­Delhi­­ •­ Siliguri•­ Bhusawal •­ Haldwani •­ Kolkata:­Main •­ Noida •­ Sirsa *Any­new­offices/centres­opened­will­be­included­automatically. For more information on DSP BlackRock Mutual Fund Visit www.dspblackrock.com or call Toll Free No.: 1800-200-4499Statutory Details:­DSP­BlackRock­Mutual­Fund­was­set­up­as­a­trust­and­the­settlors/­sponsors­are­DSP­ADIKO­Holdings­Pvt.­Ltd.­&­DSP­HMK­Holdings­Pvt.­Ltd.­(collectively)­and­BlackRock­Inc.­(Combined­liability­restricted­to­Rs.­1­lakh).­Trustee:­DSP­BlackRock­Trustee­Company­Pvt.­Ltd.­Investment Manager:­DSP­BlackRock­Investment­Managers­Pvt.­Ltd.­Risk Factors: Mutual funds, like securities investments, are subject to market and other risks and there can be no assurance that the Schemes’ objectives will beachieved. As with any investment in securities, the NAV of Units issued under the Schemes can go up or down depending on the factors and forces affecting capital markets.­Past­performance­of­the­sponsor/­AMC/­mutual­fund­does­not­indicate­future­performance­of­the­Schemes.­Investors­in­the­Schemes­are­not­being­offered­a­guaranteed­or­assured­rate­of­return.­Each­Scheme/­Plan­is­required­to­have­(i)­minimum­20­investors­and­(ii)­no­single­investor­holding>25%­of­corpus.­If­the­aforesaid­point­(i)­is­not­fulfilled­within­the­prescribed­time,­the­Scheme/­Plan­concerned­will­be­wound­up­and­in­case­of­breach­of­the­aforesaid­point­(ii)­at­the­end­of­the­prescribed­period,­the­investor’s­holding­in­excess­of­25%­of­the­corpus­will­be­redeemed­as­per­SEBI­guidelines.­The names of the Schemes do not in any manner indicate the quality of the Schemes, theirfuture prospects or returns.­For­scheme­specific­risk­factors,­please­refer­the­SID.­For­more­details,­please­refer­the­Key­Information­Memorandum­cum­Application­Forms,­which­ are­ available­ on­ the­ website,­ www.dspblackrock.com,­ and­ at­ the­ ISCs/­ Distributors.­ Please read the Scheme Information Document and Statement of AdditionalInformation carefully before investing. 26
    • 27 Summary: Key Features of the schemes GROwTH DIVIDEND MONTHLY DIVIDEND QUARTERLY DIVIDEND wEEKLY DIVIDEND DAILY DIV FUND NAME OPTIONPLAN PURCHASE ENTRY LOAD EXIT LOAD REINVEST PAYOUT REINVEST PAYOUT REINVEST PAYOUT REINVEST PAYOUT REINVEST DSPBRLF, RP ü ü ü 5000 Nil Nil DSPBRMMF IP 1 cr Nil Nil ü ü ü ü RP ü ü ü ü ü 5000 Nil Nil DSPBRFRF IP ü ü ü ü ü ü 1 cr Nil Nil Holding Period <= 6 months: 0.50%* DSPBRSTF ü ü ü ü ü ü 5000 Nil Holding Period > 6 months: Nil* RP ü ü ü ü ü ü 5000 Nil Holding Period <= 7 calendar days: 0.10% DSPBRSBF IP 1 cr Nil Holding Period > 7 calendar days: Nil ü ü ü ü ü ü ü ü Holding Period <= 6 months: 0.50%* DSPBRBF ü ü ü ü ü 5000 Nil Holding Period > 6 months: Nil* Holding Period <= 7 calendar days: 0.10% DSPBRGF ü ü ü ü ü 5000 Nil Holding Period > 7 calendar days: Nil DSPBRTBF ü ü ü ü ü 5000 Nil Nil Holding Period < 12 months: 1% DSPBRSF ü ü ü ü ü 5000 Nil Holding Period >= 12 months: Nil Holding Period < 12 months: 1% DSPBRBalF ü ü ü 5000 Nil Holding Period >= 12 months: Nil DSPBREF, DSPBRTEF, DSPBROF, RP ü ü ü 5000 Nil DSPBRITF, DSPBRSMF, Holding Period < 12 months: 1% DSPBRTF, DSPBRNRNEF, IP 1 cr Nil Holding Period >= 12 months: Nil DSPBRwGF, DSPBRwEF, ü ü ü DSPBRwMF Holding Period < 12 months: 1% DSPBRF25F ü ü ü 5000 Nil Holding Period >= 12 months: Nil DSPBRTSF^ ü ü ü 500 Nil N.A. RP ü ü ü 5000 Nil Holding Period < 24 months: 1% DSPBRMCF IP 1 cr Nil Holding Period >= 24 months: Nil ü ü ü For DSPBRSF, please read Monthly Dividend as Monthly Income Payment and Quarterly Dividend as Quarterly Income Payment. ^Redemptions in DSPBRTSF are subject to a lock-in period of 3 years from date of allotment. SIP is available in the Regular Plan of all schemes (wherever applicable) except DSPBRLF. SWP/STP is available in each plan of all schemes. Minimum installment for SIP/SWP/STP (all schemes) : ` 500/-. Minimum number of installment for SIP (all schemes except DSPBRTSF) : 12. Minimum number of installment for SIP (DSPBRTSF) : 6. Note: Investors are advised to refer to the Scheme Information Document, KIM and addenda issued from time to time, to know the terms and features of the schemes as prevailing on the date of submission of application for subscription/redemption/switch/non-financial transaction. RANKINGS/ RATINGS DISCLAIMER: ICRA: ICRA’s mutual fund rating methodology is based on evaluating the inherent credit quality of the funds portfolio. As a measure of the credit quality of a debt fund’s assets, ICRA uses the concept of ‘credit scores’. These scores are based on ICRA’s estimates of credit risk associated with each exposure of the portfolio taking into account its maturity. To quantify the credit risk scores, ICRA uses its database of historical default rates for various rating categories for various maturity buckets. The credit risk ratings incorporate ICRA’s assessment of a debt fund’s published investment objectives and policies, its management characteristics, and the creditworthiness of its investment portfolio. ICRA reviews relevant fund information on an ongoing basis to support its published rating opinions. If the portfolio credit score meets the benchmark of the assigned rating during the review, the rating is retained. In an event that the benchmark credit score is breached, ICRA gives a month’s time to the debt fund manager to bring the portfolio credit score within the benchmark credit score. If the debt fund manager is able to reduce the portfolio credit score within the benchmark credit score, the rating is retained. If the portfolio still continues to breach the benchmark credit score, the rating is revised to reflect the change in credit quality. The rating, as aforesaid, however, should not be treated as a recommendation to buy, sell or hold the units issued by DSP BlackRock Mutual Fund (DSPBRMF). The rating is restricted to the Debt Schemes only. ICRA does not assume any responsibility on its part, for any liability, that may arise consequent to DSPBRMF not complying with any guidelines or directives issued by SEBI or any other mutual fund regulatory body. ICRA reserves the right to suspend, withdraw or revise the above rating at any time on the basis of new information or unavailability of information or such circumstances, which ICRA believes, may have an impact on the aforesaid ratings. CRISIL: A CRISIL credit quality rating on a bond fund reflects CRISIL’s current opinion on the degree of protection offered by the rated instrument from losses related to credit defaults. It does not constitute an audit by CRISIL of the fund house, the scheme, or companies in the scheme’s portfolio. CRISIL ratings are based on information provided by the issued or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating is not a recommendation to buy, sell or hold the related scheme: it does not comment on the market price or suitability for a particular investor. All CRISIL ratings are under surveillance. CRISIL reserves the right to suspend, withdraw or revise its rating at any time, on the basis of any new information or unavailability of information or any other circumstances, which CRISIL believes may have an impact on the rating. For the latest rating information on any instrument of any company rated by CRISIL, please contact CRISIL RATlNG DESK at CRISILratingdesk@crisil.com or at (+91 22) 6691 3001- 09. *CRISIL Mutual Fund Rank: The composite performance of DSP BlackRock Balanced Fund is ‘Very Good performance’ performance in the Open End Consistent Balanced category, and ranks within Top 10 percentile of the 14 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the 5-year period ended Jun 30, 2011. The composite performance of DSP BlackRock Equity Fund is ‘Very Good performance’ performance in the Open End Consistent Equity category, and ranks within Top 10 percentile of the 52 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the 5-year period ended Jun 30, 2011. The composite performance of DSP BlackRock Natural Resources and New Energy Fund - Growth is ‘Very Good performance’ performance in the Open End Infrastructure Equity Schemes category, and ranks within Top 10 percentile of the 18 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score based on NAVs over the 2-year period ended Jun 30, 2011, Sectoral concentration, Company concentration and Liquidity of the scheme. The composite performance of DSP BlackRock Money Manager Fund - Growth is ‘Very Good performance’ performance in the Open End Ultra Short Term Debt Schemes category, and ranks within Top 10 percentile of the 40 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score based on NAVs over the 1-year period ended Jun 30, 2011, Asset size, Downside Risk Probability, Company concentration, Liquidity & Asset Quality of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL Mutual Fund Rank is no indication of the performance that can be expected from the scheme in future. Ranking Source: CRISIL FundServices, CRISIL Limited. Past performance is no guarantee of future results.