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%	growt...
Fixed Income Market:Overview•	 The	Benchmark	10	Yr	government	bond	yield	moved	from	8.33%	pa	in	the	beginning	of	the	month...
CRISIL     MUTUAL FUND       RANK 1*                              DSP BlackRock Equity FundFUND MANAGERApoorva	Shah       ...
DSP BlackRock Top 100 Equity FundPortfolio                                                                                ...
DSP BlackRock Opportunities FundFUND MANAGERAnup	Maheshwari                                             PortfolioTotal	wor...
DSP BlackRock India T.I.G.E.R. Fund                                                                                       ...
DSP BlackRock Technology.com FundFUND MANAGERApoorva	Shah	                                             Portfolio          ...
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
Dspbrmf monthly factsheet_jul_312011
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Dspbrmf monthly factsheet_jul_312011

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Dspbrmf monthly factsheet_jul_312011

  1. 1. MONTHLY FACTSHEET July 31, 2011 Transact Online
  2. 2. 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
  3. 3. 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
  4. 4. 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
  5. 5. 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
  6. 6. 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
  7. 7. 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
  8. 8. 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

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