Recommended Funds- Performance Update

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Performance review of our Recommended Funds for H1 2011.

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Recommended Funds- Performance Update

  1. 1. Recommended Funds- Performance Update Prepared by: iFAST Research Team
  2. 2. Dear InvestorsOn the day of releasing our performance on Recommended Funds, there has been a bloodbath on Dalal Street withSensex and Nifty loosing ~371 points and 112 points respectively. Global uncertainties and domestic worries havecreated a panic on the street as a result of which investors are rushing to sell their investments. At this juncture wewould advise all our investors to maintain calm and instead of following the herd, stay invested in their existingportfolios. They can even think of entering markets either through the SIP route or via lump sum investmentswhenever there is a dip. Investors are often shocked and cannot believe that we actually want them to enter themarkets during such volatility. Our reply to all of them is that the India growth story is intact and the volatility is onlyshort-term. We believe it is always better to enter the markets whenever there is downtrend rather than park moneywhen market is at its peak.Our recommended funds were first introduced in June 2009 and underwent a review four times, the last being inDecember 2010. Since Jan 2011, we have decided to review our recommended funds on a yearly basis, however, wewill keep a track of the same every six months. It is in this scenario that we have decided to release a reportshowcasing how our recommended funds have performed in the first half of 2011.We hope that you find this information useful and would appreciate your feedback on the same.Happy Investing!India Research Desk
  3. 3. Market Update
  4. 4. EquityIn the first half of 2011 i.e. from January 2011 to June 2011, the equity markets performance has been negative. Only twosectoral indices i.e. FMCG and Consumer Durables represented by BSE FMCG Index and BSE Consumer Durables Index havegiven positive returns. All the broad indices have given negative returns exceeding 5%. BSE SENSEX and NIFTY have given -8.11%and -7.94% returns. Real estate companies have lost the most during the first half. The BSE Real Estate index has lost close to30% in the first six months of the year. Indices on Midcap, Small Cap, IT, Power, Auto, Metal and Real estate have given doubledigit negative returns in the first half of 2011. Domestic Indices (Returns) Sectoral Indices (Returns) 0.00% 12.00% 8.00% BSE Small Cap S&P CNX Nifty BSE Sensex BSE Midcap -2.00% 4.00% -4.00% 0.00% -6.00% -4.00% BSE Health Care BSE TECk BSE Power BSE PSU BSE AUTO BSE IT BSE Realty BSE Capital Goods BSE FMCG BSE BANKEX BSE METAL BSE OIL & GAS BSE Consumer Durables -8.00% -8.00% -10.00% -12.00% -16.00% -12.00% -20.00% -14.00% -24.00% -16.00% -28.00% -32.00% -18.00%The negative returns are influenced both by domestic and global factors. From a domestic perspective, the rate hikes by RB I hasforced the banks to increase their lending rates, this has negatively affected the demand for products from real estate and autosector. A decline in the auto sector and real estate also leads to a lower demand for metal products and thus, the metal sector isalso negatively impacted. From a global perspective, the uncertainty of solvency of many European countries and even animpending ratings downgrade for the US has led to the negative performance not only in India but also in many emergingcountries.As, RBI has communicated that the rate hikes will continue until there is some level of moderation in inflation, the outlook forsecond half looks bleak as the banks will be forced to increase the lending rates. This can lead to lower level of economicactivity; even the Prime Minister’s Economic Advisory Council (PMEAC) has lowered the GDP growth rate of 2011-12 from 8.5%to 8.2%. This in turn, can lead to some correction in the equity markets.However, for investors who have a long time horizon, this would be the suitable period to enter into the equity market as weexpect the market to give good returns in the future.
  5. 5. Debt 10 Year Gsec Curve 8.6 8.5 8.4 8.3 8.2 8.1 8 7.9 7.8 7.7 7.6 31-Dec-10 14-Jan-11 28-Jan-11 11-Mar-11 25-Mar-11 6-May-11 20-May-11 8-Apr-11 22-Apr-11 3-Jun-11 17-Jun-11 25-Feb-11 11-Feb-11 YieldsIn the first half of 2011 i.e. from January 2011 to June 2011, the yields in the debt markets performance were on a rising trend.The 10 year benchmark yield has increased from 7.92% on 31 December 2010 to 8.33% on 30 June 2011, thanks to the RBI’s ratehike in every quarter and mid quarter policy meets in the first half. Even the liquidity condition in the system has been in thenegative mode. However, the liquidity situation has improved slightly in the first half of 2011.With the inflation still over 9%, the RBI has reiterated that it will continue hiking rates until there is some sort of moderation inthe level of inflation. So for much part of H2 of 2011, we can expect rate hikes.In this scenario, we advise: Investors with a time horizon anywhere from 3 months to 24 months can lock-in their money in FMPs (available with varying maturities) at the prevailing high rates Investors with idle cash in the savings account should look at Ultra-Short Term Funds. The Recommended Funds in this category include DWS Ultra Short Term Fund and Birla Sun-life Ultra short term Fund. The investment horizon that we suggest for such instruments is 1 month-3 months Investors with a time horizon between 6 - 12 months should consider Short-Term Funds. The Recommended Funds in this category include Reliance Short Term Fund and Templeton India Short Term Fund
  6. 6. Mutual Funds Update
  7. 7. MF Industry Trends Top Five AMCs - By Absolute Change in Assets (Dec 2010- June 2011) Absolute Change in Assets (INR in Crores) % Change in Assets ICICI Prudential Mutual Fund 13980.31 21.22% IDFC Mutual Fund 10427.52 57.45% Birla Sun Life Mutual Fund 9780.71 16.94% Kotak Mahindra Mutual Fund 6524.98 23.61% SBI Mutual Fund 6376.60 15.37% Bottom Five AMCs - By Absolute Change in Assets (Dec 2010- June 2011) Absolute Change in Assets (INR in Crores) % Change in Assets PRINCIPAL Mutual Fund -330.80 -5.74% JM Financial Mutual Fund -604.55 -9.37% JPMorgan Mutual Fund -1471.38 -28.32% Franklin Templeton Mutual Fund -4434.71 -10.82% LIC NOMURA Mutual Fund -9356.39 -50.05%The assets managed by the industry from January 2011 to June 2011 rose by about Rs. 69,411 crores from Rs. 6,78,067 crore inthe September 2010 to December 2010 quarter, to Rs. 7,47,479 crores in April 2011 to June 2011 quarter. The industry assetsrose in the April - June 2011 quarter by 10.24% with respect to September - December 2010 quarter.ICICI Prudential Mutual Fund, IDFC Mutual Fund, Birla Sunlife Mutual Fund were the fund houses which saw their assets increasethe most in Rupee terms. AMCs that started operations recently saw their assets increase by huge percentages; Daiwa Mutualfund’s assets increased by 391% in the first half of 2011, followed by IDBI Mutual Fund and Peerless Mutual fund at 150% and113% respectively.LIC Nomura Mutual fund, Franklin Templeton Mutual Fund and JPMorgan Mutual fund were the fund houses which saw largedecreases in their assets in Rupee terms. LIC Nomura Mutual fund saw its assets decrease by over 50%, while Bharti AXA Mutualfund and JPMorgan Mutual Fund saw its assets decrease by over 47% and 28% respectively.
  8. 8. Category Returns Equity: Large Cap -7.64% Equity: Multi Cap -7.55% Equity: Mid Cap -8.43% Equity: ELSS -7.49% Equity: Index -7.71% Equity: Global -3.39% Hybrid: Balanced -2.71% Hybrid: MIP 1.71% Debt: Income 3.38% Debt: Gilt Short Term 2.59% Debt: Gilt Long Term 2.29% Debt: Floating Rate 4.15% Debt: Ultra Short Term 4.25% Debt: Short Term 4.39% Liquid 3.92%During the first half of 2011, due to the negative performance of the equity market locally and globally; domestic and overseasequity funds as a category have given negative returns. Midcap and small cap funds have lost the most in H1, followed by Index,Large cap and Multicap funds. Overseas funds have given negative returns with the negative performance being much lower incomparison to the Indian equity funds.Balanced funds have also given negative performance due to the negative performance of the equity market. However, thequantum of negative performance is low due to the higher debt component in the balanced funds as compared to equity funds.Funds which have higher allocation to debt have given positive returns, including MIPs, which have over 70% allocation to debt.Short term funds, followed by Ultra Short term funds have given the highest returns in the first half of 2011. The cause for thebetter performance by the Short term and the Ultra Short term funds was the lack of liquidity in the system which has led tohigher rates for Certificate of Deposits and Commercial Papers.
  9. 9. Our Recommended Funds
  10. 10. Recommended Large Cap Equity Funds
  11. 11. Fund Name: HDFC Top 200 Fund Investment Strategy: This fund invests into companies Performance of HDFC Top 200 Fund along with BSE 200 primarily from the BSE 200 index. Banking, Information 300 Technology, Pharma, Refineries and Tobacco are theCategory: Equity- Large Cap 250 most important sectors of this fund. These five sectors,Investment Objective: To generate on an average, account for over 57% of the portfoliolong term capital appreciation from a 200 investments. Banking is the single largest sector that thisportfolio of equity and equity-linked fund invests in. In the past 6 months, investments in 150instruments primarily drawn from the banking sector have never fallen below 22% of thecompanies in the BSE 200 Index. 100 portfolio and accounted for 23.12% of the portfolio in June 2011. The fund manager has lowered the allocationInception Date: October 11, 1996 50 to the public sector banks from 14.1% in January 2011 to 12.3% in June 2011, while the private sector banks’Fund Manager Name: Prashant Jain & 0 allocation has been increased from 9.6% to 10.8% duringMiten Lathia 31-Dec-08 31-Oct-09 31-Jan-11 30-Nov-06 31-May-09 30-Jun-06 31-Mar-10 31-Aug-10 30-Jun-11 30-Sep-07 29-Feb-08 31-Jul-08 30-Apr-07 the same period. The fund on an average has had 3.7% in cash in the past six months. The fund has a smallAUM (as at June 2011): INR 11064.99 exposure to rights instruments at an average of 2.5% of(in crores) the portfolio, while the rest is invested into equities. HDFC Top 200 Fund BSE 200Investment Amount:Minimum Investment: Rs 5000Minimum SIP Investment:Monthly: Rs 500 Performance as on 30-June-2011Quarterly: Rs 1500 Absolute (%) CAGR (%) 1 month 3 month 6 month 1 year 3 year 5 year SINCE INCEPTIONLoad: Entry: NILExit: 1% on or before 1 year, Nil After HDFC Top 200 Fund 1.36 -1.41 -5.97 9.03 22.50 19.83 22.871 year BSE-200 0.56 -2.69 -8.65 2.96 12.08 12.73 13.61 Asset Allocation- Dec 2010 Asset Allocation- June 2011 Cash, 2.68% Cash, 3.68% Cash Cash Equity, 97.32% Equity Equity, 94.08% Equity Top 5 Sectors Top 5 CompaniesIndustry Dec’ 2010 (%) Industry June’ 2011 (%) Company Name Dec 2010 (%) Company Name June 2011 (%)Banks 22.42 Banks 21.23 State Bank Of India 7.10 State Bank Of 6.86IT - Software 9.99 IT - Software 10.76 India Pharmaceuticals & Infosys Ltd. 6.06 ICICI Bank Ltd. 6.43Refineries 7.85 Drugs 7.90 ICICI Bank Ltd. 5.52 Infosys Ltd. 5.88Pharmaceuticals Reliance Industries 4.47 ITC Ltd. 4.56& Drugs 7.75 Refineries 7.61 Ltd.Engineering - Larsen & Toubro 4.13 Reliance 4.13Construction 5.91 Cigarettes/Tobacco 4.56 Ltd. Industries Ltd.
  12. 12. Investment Strategy: This fund invests in large cap Fund Name: Franklin India Performance of Franklin India Bluechip Fund Bluechip Fund stocks which can be either growth or value oriented. 250 along with BSE Sensex For the past six months, Banking, Information Category: Equity- Large Cap Technology, Telecommunications, Power and Investment Objective: An open- 200 Refineries are the key sectors for this fund. These six end growth scheme with an objective primarily to provide sectors have accounted for more than 62% of the medium to long-term capital portfolio assets for the past 6 months. The allocation 150 appreciation. to the public sector banks has decreased from 6.2% Inception Date: December 01, in January 2011 to 4.3% in June 2011 while the 100 allocation to the private sector banks has increased 1993 Fund Manager Name: Anand from 12.5% to 14.5% during the same period. 50 Radhakrishnan & Anand Vasudevan The fund manager has become conservative in his AUM (as at June 2011): INR 0 investment approach. The fund manager has increased the allocation to cash from 2.6% in 30-Jun-08 30-Jun-06 31-Oct-06 30-Jun-07 31-Oct-07 31-Oct-08 30-Jun-09 31-Oct-09 30-Jun-10 31-Oct-10 30-Jun-11 28-Feb-07 29-Feb-08 28-Feb-09 28-Feb-10 28-Feb-11 4020.06 (in crores) Investment Amount: January 2011 to 9.7% in June 2011. This increase in Minimum Investment: Rs 5000 the cash allocation was due to the decrease in the Minimum SIP Investment: equity allocation of the portfolio. Franklin India Bluechip Fund BSE Sensex Monthly: Minimum of 12 cheques each of Rs. 500/- or more or a minimum of 6 cheques Performance as on 30-June-2011 each of Rs. 1000/- or more. Absolute (%) CAGR (%) Quarterly: Minimum of 12 SINCE cheques each of Rs. 500/- or 1 month 3 month 6 month 1 year 3 year 5 year INCEPTION more or a minimum of 6 cheques Franklin India Bluechip each of Rs. 1000/- or more. Fund 1.27 -1.15 -5.14 10.26 20.03 16.62 25.18 Load: Entry: NIL Exit: 1% on or before 1Y BSE SENSEX 1.85 -3.08 -8.11 6.47 11.87 12.17 10.43 Asset Allocation- Dec 2010 Asset Allocation- June 2011 Cash, 6.31% Cash, 9.71% Debt, 0.03% Cash Cash Equity, 93.69% Equity, 90.27% Debt Equity Equity Top 5 Sectors Top 5 CompaniesIndustry Dec’ 2010 (%) Industry June’ 2011 Company Name Dec 2010 (%) Company Name June 2011 (%) (%)Banks 17.91 Banks 18.80 Bharti Airtel Ltd. 7.94 Infosys Ltd. 8.50IT - Software 9.64 IT - Software 11.15 Infosys Ltd. 7.34 Bharti Airtel Ltd. 8.36 Telecommunication - RelianceRefineries 8.52 Service Provider 10.14 Industries Ltd. 6.15 ICICI Bank Ltd. 6.66 Power RelianceElectric Equipment 8.38 Generation/Distribution 6.94 ICICI Bank Ltd. 5.23 Industries Ltd. 4.24Telecommunication Kotak Mahindra Kotak Mahindra- Service Provider 8.36 Refineries 5.50 Bank Ltd. 4.01 Bank Ltd. 3.40
  13. 13. Fund Name: ICICI Prudential Investment Strategy: The funds strategy is to invest Performance of ICICI Prudential Focused Blue Chip Equity Focused Bluechip Equity Fund Fund along with S&P CNX Nifty in around 20 large cap stocks. Banking, Information 200 Technology, Oil exploration, Tobacco and power are Category: Equity- Large Cap 180 the key sectors for this fund. These five sectors Investment Objective To seek to 160 account for over 68% of the portfolio investments generate long-term capital appreciation and income 140 over the past six months. The allocation to banking distribution to unit holders from a 120 sector has dropped from 23.8% in January 2011 to portfolio that is invested in equity 21% in June 2011, and on the same note the 100 and equity related securities of allocation to the top 5 sectors has dropped from about 20 companies belonging to 80 74.2% to 38.3% during the same period. the large cap domain and the 60 balance in debt securities and 40 Unlike HDFC Top 200 fund which hardly used money market instruments. Inception Date: May 23, 2008 20 derivatives, this fund has used derivatives every 0 month in the past six months. For the past six Fund Manager Name: Prashant months, derivatives have accounted for an average 23-Aug-08 23-Aug-09 23-Aug-10 23-Nov-08 23-Nov-09 23-Nov-10 23-Feb-09 23-Feb-10 23-Feb-11 23-May-08 23-May-09 23-May-10 23-May-11 Kothari & Rajat Chandak 8.4% of the portfolio, cash allocation has accounted AUM (as at June 2011): INR for 3.6% and the remaining into equities on an 2545.23 (in crores) ICICI Prudential Focused Blue Chip Equity Fund average allocation of 87.8% S&P CNX Nifty Investment Amount: Minimum Investment: Rs 5000 Minimum SIP Investment: Performance as on 30-June-2011 Monthly: Rs 1000 Absolute (%) CAGR (%) Quarterly: Rs 5000 SINCE 1 month 3 month 6 month 1 year 3 year 5 year INCEPTION Load: Entry: NIL ICICI Prudential Focused Exit: 1% on or before 1Y, NIL after Blue Chip Equity Fund 2.14 -1.42 -3.97 13.47 22.52 17.92 1Y S&P CNX Nifty 1.57 -3.19 -7.94 6.30 11.81 12.53 4.36 Asset Allocation- Dec 2010 Asset Allocation- June 2011 Cash, 3.97% Cash, 4.18% Cash Cash Equity, 91.96% Equity, 85.34% Equity Equity Top 5 Sectors Top 5 CompaniesIndustry Dec’ Industry June’ Company Name Dec 2010 Company Name June 2011 2010 (%) 2011 (%) (%) (%)Banks 25.22 Banks 23.26 Tata Consultancy ServicesIT - Software 14.12 IT - Software 11.67 Ltd. 7.34 ITC Ltd. 6.60 Punjab National Bank 6.97 Bajaj Auto Ltd 6.17Automobiles-Tractors 6.32 Oil Exploration 8.08 Mahindra & Mahindra Ltd. 6.32 Axis Bank Ltd. 6.04Refineries 6.14 Cigarettes/Tobacco 6.60 Reliance Industries Ltd. 6.14 Hindustan Zinc Ltd. 4.71Automobile Two & Power Punjab NationalThree Wheelers 6.06 Generation/Distribution 6.34 Bajaj Auto Ltd 6.06 Bank 4.71
  14. 14. Recommended Multi Cap Equity Funds
  15. 15. Fund Name: HDFC Equity Investment Strategy: The fund invests mainly in growth Performance of HDFC Equity Fund along with S&P CNX 500 Fund 300 oriented stocks. In the past six months, large cap stocks on an average account for 81% of the portfolio, midcap stocks Category: Equity- Multi Cap 250 account for 9% of the portfolio, small cap stocks account for about 4% of the portfolio and cash holdings account for Investment Objective: To 200 3.1% of the portfolio. achieve capital appreciation. 150 Banking, Information Technology, Pharmaceuticals, Inception Date: January 01, Refineries and Mining are the important sectors for this 100 1995 portfolio. These five sectors on an average account for 52% 50 of the portfolio in the past six months. Banking is the Fund Manager Name: largest sector and allocation to banking has never fallen Prashant Jain & Miten 0 below 22% in the past six months. The allocation to the Lathia 31-Oct-06 public sector banks has decreased slightly from 14.5% in 31-Oct-07 31-Oct-08 31-Oct-09 31-Oct-10 30-Jun-06 30-Jun-07 30-Jun-08 30-Jun-09 30-Jun-10 30-Jun-11 28-Feb-07 29-Feb-08 28-Feb-09 28-Feb-10 28-Feb-11 AUM (as at June 2011): INR January 2011 to 13.9% in June while the allocation to the 9738.90 (in crores) private sector banks has increased from 8% to 9% in the same period. Over all, the allocation to the banking sector Investment Amount: HDFC Equity Fund S&P CNX 500 has increased by 0.4% in the past six months to 22.95% Minimum Investment: Rs 5000 Minimum SIP Investment: Performance as on 30-June-2011 Monthly: Rs 500 Absolute (%) CAGR (%) Quarterly: Rs 1500 SINCE Load: Entry: NIL 1 month 3 month 6 month 1 year 3 year 5 year INCEPTION Exit: 1% on or before HDFC Equity Fund 0.76 -0.73 -5.79 11.02 25.24 19.82 22.40 1Y,Nil-After 1Y S&P CNX 500 0.67 -2.24 -8.46 2.31 12.19 12.03 NA Asset Allocation- Dec 2010 Asset Allocation- June 2011 Cash, 4.70% Cash, 2.30% Cash Cash Equity, 95.30% Equity Equity, 94.94% Equity Top 5 Sectors Top 5 CompaniesIndustry Dec’ 2010 (%) Industry June’ 2011 Company Name Dec 2010 (%) Company Name June 2011 (%) (%)Banks 21.15 Banks 22.95 State Bank Of State Bank Of India 7.75 India 8.41IT - Software 8.35 IT - Software 8.61Pharmaceuticals & Pharmaceuticals ICICI Bank Ltd. 5.89 ICICI Bank Ltd. 6.99Drugs 8.30 & Drugs 7.56 Tata ConsultancyEngineering - Infosys Ltd. 4.64 Services Ltd. 4.62Construction 5.05 Refineries 7.05 Titan Industries Mining & Ltd. 4.45 Infosys Ltd. 3.99Oil Exploration 4.65 Minerals 3.57 Bank Of Baroda 4.16 Bank Of Baroda 3.61
  16. 16. Fund Name: Fidelity Equity Investment Strategy: The fund invests in 60 to 80 Performance of Fidelity Equity Fund along with BSE 200 stocks across market capitalisation. In the past fiveFund 300 months i.e. from January 2011 to May 2011, large capCategory: Equity- Multi Cap stocks on an average account for 79.4% of the 250Investment Objective: To portfolio, midcap stocks account for 9.2% of thegenerate long-term capital portfolio, small cap stocks account for 3.4% of the 200growth from a diversified portfolio and cash holdings account for 7.9% of theportfolio of predominantly portfolio. 150equity and equity-relatedsecurities. Banking, Information Technology, Refineries, 100 Pharmaceuticals and Cigarettes are the important sectors for this portfolio. These five sectors hasInception Date: May 16, 2005 50 accounted for 62.7% of the portfolio in May 2011. The allocation to the top 5 sectors has increased from 52% 0Fund Manager Name: in January to 62.7% in June 2011. Like most funds, the 31-Oct-10 31-Oct-06 31-Oct-07 31-Oct-08 31-Oct-09 30-Jun-08 30-Jun-06 30-Jun-07 30-Jun-09 30-Jun-10 28-Feb-11 30-Jun-11 28-Feb-07 29-Feb-08 28-Feb-09 28-Feb-10Sandeep Kothari & Anirudh allocation to the private sector banks has gone upGopalakrishnan while the allocation to the public sector has gone down by about 2%.AUM (as at May 2011): INR Fidelity Equity Fund BSE 2003368.19 (in crores)Investment Amount: Performance as on 30-June-2011Minimum Investment: Rs 5000Minimum SIP Investment: Absolute (%) CAGR (%)Monthly: Rs 500 1 month 3 month 6 month 1 year 3 year 5 year SINCE INCEPTIONLoad: Entry: NIL Fidelity Equity Fund 0.96 -1.94 -5.94 7.50 19.49 18.77 23.09Exit: 1% on or before 1Y, Nil BSE-200 0.56 -2.69 -8.65 2.96 12.08 12.73 17.44after 1Y Asset Allocation- Dec 2010 Asset Allocation- May 2011 Cash, 4.55% Cash, 9.15% Debt, 0.04% Cash Cash Equity, Equity, 90.82% Debt 95.45% Equity Equity Top 5 Sectors Top 5 Companies Industry Dec’ 2010 Industry May’ 2011 Company Name Dec 2010 (%) Company Name May 2011 (%) (%) (%) Banks 17.47 Banks 17.34 Reliance Reliance Industries Ltd. 7.32 Industries Ltd. 6.96 IT - Software 9.48 IT - Software 8.38 Infosys Ltd. 5.43 ICICI Bank Ltd. 5.33 Refineries 7.32 Refineries 7.56 ITC Ltd. 4.35 ITC Ltd. 4.70 Pharmaceuticals & Pharmaceuticals & HDFC Bank Ltd. 4.33 HDFC Bank Ltd. 4.41 Drugs 7.03 Drugs 6.33 Tata Consultancy Cigarettes/Tobacco 4.35 Cigarettes/Tobacco 4.70 Services Ltd. 3.70 Infosys Ltd. 4.31
  17. 17. Fund Name: UTI Opportunities Fund Investment Strategy: UTI Opportunities fund Performance of UTI Opportunities Fund along with BSE 100 invests in sectors that are expected to do well 300Category: Equity- Multi Cap in the future while moving out of sectorsInvestment Objective: This scheme 250 which look overvalued. In the past six months,seeks to generate capital large cap stocks on an average account forappreciation and/or income 200 86.6% of the portfolio, midcap stocks accountdistribution by investing the funds ofthe scheme in equity shares and for 3% of the portfolio, small cap stocks 150 account for 1% of the portfolio and cashequity-related instruments. The mainfocus of this scheme is to capitalize holdings account for 7.5% of the portfolio. 100on opportunities arising in the marketby responding to the dynamically Banking, Cement & Construction, Cigarettes,changing Indian economy by moving 50 Information technology and consumer foodsits investments amongst different 0 are the important sectors for this portfolio.sectors as prevailing trends change. These five sectors on an average account for 30-Jun-06 30-Jun-07 30-Jun-08 30-Jun-09 30-Jun-10 30-Jun-11 31-Oct-10 31-Oct-06 31-Oct-07 31-Oct-08 31-Oct-09 28-Feb-07 29-Feb-08 28-Feb-09 28-Feb-10 28-Feb-11Inception Date: July 20, 2005 54.6% of the portfolio over the past sixFund Manager Name: Anoop months and for 36% of the portfolio in JuneBhaskar UTI Opportunities Fund BSE 100 2011.AUM (as at June 2011): INR 1575.52(in crores)Investment Amount: Performance as on 30-June-2011Minimum Investment: Rs 5000Minimum SIP Investment: Absolute (%) CAGR (%)Monthly: Rs 500 SINCEQuarterly: Rs 1500 1 month 3 month 6 month 1 year 3 year 5 year INCEPTIONLoad: Entry: NILExit: 1% before 1Y,Nil on or after 1Y UTI Opportunities Fund 0.66 0.29 -4.77 11.85 21.18 17.17 18.45 BSE-100 0.85 -2.89 -8.16 3.83 11.73 12.74 16.53 Asset Allocation- Dec 2010 Asset Allocation- June 2011 Cash, 3.26% Cash, 6.24% Cash Cash Equity, Equity, 94.82% Equity 91.95% Equity Top 5 Sectors Top 5 CompaniesIndustry Dec’ 2010 (%) Industry June’ 2011 Company Name Dec 2010 Company Name June 2011 (%) (%) (%) Cement & ITC Ltd. 6.79 ITC Ltd. 7.92Automobiles- Construction Tata Motors Ltd. 6.46 Petronet LNG Ltd. 5.05Trucks/Lcv 9.11 Materials 8.89 Petronet LNG Ltd. 4.63 Titan Industries Ltd. 4.91Banks 8.62 Cigarettes/Tobacco 7.92 HousingIT - Software 8.14 Banks 7.81 DevelopmentCement & FinanceConstruction Corporation Ltd. 4.50 Cairn India Ltd. 4.67Materials 7.62 IT - Software 6.21 Tata ConsultancyCigarettes/Tobacco 6.79 Consumer Food 5.55 GAIL (India) Ltd. 4.43 Services Ltd. 4.40
  18. 18. Recommended Midcap and Small Cap Equity Funds

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