The document summarizes an investment opportunity in the DSP BlackRock US Flexible Equity Fund, an open-ended fund of funds scheme that invests in the BlackRock Global Funds US Flexible Equity Fund. Some key points: - The NFO period for the fund is July 17, 2012 to July 31, 2012. - The underlying BlackRock fund has $1.3 billion in assets under management, providing Indian investors access to one of BlackRock's flagship US equity funds. - The document makes the case that US equities are a good investment opportunity now due to attractive valuations and the large size and diversity of the US equity market.

1. Prajna CapitalNow!
Call 94 8300 8300
Call 94 8300 8300 Now!
NFO Period: July 17, 2012 to July 31, 2012
*
An Open Ended Fund Of Funds Scheme Investing In a US Equity Fund
(*The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can
invest either in growth or value investment characteristic securities placing an emphasis as the market outlook warrants.)

2. DSP BlackRock US Flexible* Equity Fund
(USD 1.3 billion*)
Indian Investors
BlackRock Global Funds (BGF)
US Flexible Equity Fund
Accessing one of the Flagship funds of BlackRock in the category
Source: Internal; *AUM as at May 31, 2012. *The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can invest either
in growth or value investment characteristic securities placing an emphasis as the market outlook warrants.
2

3. Contents
• Why US equities?
- Access to the world’s largest equity market
- US Equities are a core component of global equity portfolios/indices
- Amongst the most well diversified markets
- Represents numerous global investment themes
- Resilient economy
• Why invest now?
- Attractive valuations
- Continued out-performance by US markets in recent times
- Global portfolios are overweight on US equities
- Strong corporate balance sheets
• Why DSP BlackRock US Flexible* Equity Fund?
- BGF US Flexible Equity Fund: A portfolio well-positioned
- BlackRock: World’s Largest Asset Management Company
*The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can invest either in growth or
value investment characteristic securities placing an emphasis as the market outlook warrants.
3

4. Why US equities?
Prajna Capital
Call 94 8300 8300 Now!

5. Access to the largest equity market in the world
Top 10 Equity Markets by Market Capitalization (US$ trillion)
18
15.7
16
14
12
USD trillion
10
8
6
4 3.3 3.0 2.9 2.9
1.8
2 1.4 1.2 1.1 1.1
0
US Japan UK China Hong Kong Canada France Germany Australia Brazil
US market capitalization is greater than those of the next 6 countries combined
Source: Bloomberg; as at May 31, 2012
5

6. 0
25
50
75
100
0
25
50
75
100
MSCIACWI
MSCIACWI
S&P Global 1200
S&P Global 1200
Source: Internal, as at May 31, 2012
FTSE Developed
FTSE Developed
Index
Index
US as a % of Global Equity Indices
S&P Global 100
S&P Global 100
FTSE All World Index
FTSE All World Index
MSCI World
MSCI World
0
25
50
75
100
0
25
50
75
100
Information
Information
Technology
Technology
Healthcare
Healthcare
Consumer
Consumer
Discretionary
Discretionary
Consumer
Consumer
Staples
Staples
Utilities
Utilities
Industrials
Industrials
Energy
Energy
Financials
Financials
Global
Global
US Equities are a core component of global equity portfolios/ indices
Infrastructure
Infrastructure
US Equities have the largest allocation in every major global equity and sector index
Materials Sector
Materials Sector
6
US as a % of Global Sector Indices (S&P Global Indices)

7. US is amongst the most well diversified markets
Cons. Cons.
MSCI Wt(%) Energy Materials Industrial Financial Pharma Tech Telecom Utilities Top 2
Disc Staples
US 10.7 3.6 10.1 11.9 11.2 14.0 11.7 20.0 3.2 3.7 34.0
Japan 1.6 6.9 20.8 20.0 6.7 17.4 6.7 12.1 4.4 3.5 40.8
UK 19.5 11.3 6.2 6.2 17.2 17.8 8.8 0.7 7.5 4.9 37.3
China 18.4 5.0 6.7 5.8 5.6 35.2 0.8 7.0 13.3 2.2 53.6
Hong Kong 0.0 0.0 10.9 13.7 0.0 59.8 0.0 1.3 0.5 13.8 73.6
Canada 26.4 19.3 6.0 3.8 3.2 33.7 1.8 1.2 3.3 1.2 60.1
France 12.6 7.3 15.8 13.3 12.3 13.3 12.2 3.1 5.7 4.5 29.0
Germany 0.0 15.9 13.9 18.4 4.3 16.0 12.0 8.7 3.8 7.1 34.4
Australia 6.8 23.9 4.8 1.7 8.9 46.1 3.9 0.4 2.0 1.6 69.9
Brazil 18.8 19.9 4.4 3.6 13.1 24.2 0.9 3.5 3.5 8.0 44.1
• All MSCI industry sectors are well represented in the US market
• The top 2 sectors – Financials & Technology – account for only ~34% of the US equity market
Source: CLSA Research; as at May 31, 2012
7

8. Represents numerous global investment themes
Global Trend Investable Company
Themes Examples*
Apple Inc.
Technology
Google
Lifestyle Shifts
Microsoft
New Media
IBM
New Health Pfizer
Services Abbot Labs
Demographic Shifts
Johnson & Johnson
Economic Shift
Proctor & Gamble
Expedia
Niche Growth NASDAQ
Productivity Enhancement
McGraw Hill Companies
Market Theme
General Electric
US companies have exhibited unparalleled innovation to lead many global trends
*Company examples are for illustration purposes only, there is no guarantee that they will form a part of the portfolio of BGF US Flexible Equity Fund
8

9. Prajna Capital
Prajna Capital
Resilient economy Call 94 8300 8300 Now!
Call 94 8300 8300 Now!
US unemployment rate
12
10
8
(%)
6
4
2
1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011
Significant decrease in unemployment numbers after each economic slowdown thereby
exhibiting economic resilience
Source: ISI. Data through December 2011.
9

10. (Base Year 2007, Seasonally
YoYYoY (Base Year 2007, Seasonally ('000s, 4 Week Moving Average
('000s, 4 Week Moving Average
Adjusted)
Adjusted) ,Seasonally Adjuated)
,Seasonally Adjuated)
-5
0
5
-20
-15
-10
10
200
250
300
350
400
450
500
550
600
650
700
-5
0
5
-20
-15
-10
10
200
250
300
350
400
450
500
550
600
650
700
Jan-00
Jan-00 YoY (Base Year 2007, Seasonally Jan-00
Jan-00
YoY (Base Year 2007, Seasonally ('000s, 4 Week Moving Average
('000s, 4 Week Moving Average
Aug-00
Aug-00 Adjusted) Aug-00
Aug-00 ,Seasonally Adjuated)
Adjusted) ,Seasonally Adjuated)
Mar-01
Mar-01 Mar-01
Mar-01
-5
0
5
-20
-15
-10
10
200
250
300
350
400
450
500
550
600
650
700
-5
0
5
-10
-20
-15
10
200
250
300
350
400
450
500
550
600
650
700
Oct-01
Oct-01 Oct-01
Oct-01
Jan-00
Jan-00 Jan-00
Jan-00
May-02
May-02 May-02
May-02
Aug-00
Aug-00 Aug-00
Aug-00
Dec-02
Dec-02 Dec-02
Dec-02
Mar-01
Mar-01 Mar-01
Mar-01
Jul-03
Jul-03 Jul-03
Jul-03
Oct-01
Oct-01 Oct-01
Oct-01
Feb-04
Feb-04 Feb-04
Feb-04
May-02
May-02 May-02
May-02
Sep-04
Sep-04 Sep-04
Sep-04
Dec-02
Dec-02
Falling initial jobless claims
Dec-02
Dec-02
Apr-05
Apr-05 Apr-05
Apr-05
Jul-03
Jul-03 Jul-03
Jul-03
Nov-05
Nov-05 Nov-05
Nov-05
Feb-04
Feb-04 Feb-04
Feb-04
Jun-06
Jun-06 Jun-06
Jun-06
Sep-04
Sep-04 Sep-04
Sep-04
Jan-07
Jan-07 Jan-07
Jan-07
Apr-05
Apr-05 Apr-05
Apr-05
Aug-07
Aug-07 Aug-07
Aug-07
Nov-05
Nov-05 Nov-05
Nov-05
Mar-08
Mar-08 Mar-08
Mar-08
Jun-06
Jun-06 Jun-06
Jun-06
Oct-08
Oct-08 Oct-08
Oct-08
Jan-07
Jan-07
May-09
Improving level of industrial production Jan-07
Jan-07
May-09
May-09
May-09 Aug-07
Aug-07
Aug-07
Aug-07
Dec-09
Dec-09 Dec-09
Dec-09
Mar-08
Mar-08 Mar-08
Mar-08
Jul-10
Jul-10 Jul-10
Jul-10
Oct-08
Oct-08 Oct-08
Oct-08
Feb-11
Feb-11 Feb-11
Feb-11
May-09
May-09 May-09
May-09
Sep-11
Sep-11 Sep-11
Sep-11
Dec-09
Dec-09 Dec-09
Dec-09
Apr-12
Apr-12 Apr-12
Apr-12
Jul-10
Jul-10 Jul-10
Jul-10
Feb-11
Feb-11 Feb-11
Feb-11
Sep-11
Sep-11 Sep-11
Sep-11
Apr-12
Apr-12 Apr-12
Apr-12
30
35
40
45
50
55
60
65
30
35
40
45
50
55
60
65
0
100
160
120
140
20
40
60
80
160
0
100
120
140
20
40
60
80
Jan-00
Jan-00
Jan-00
Jan-00
Aug-00
Aug-00
Aug-00
Aug-00
Mar-01
Mar-01
30
35
40
45
50
55
60
65
Source: Bloomberg, as at end April 2012. Past Performance may or may not be sustained in future
30
35
40
45
50
55
60
65
Mar-01
Mar-01
0
100
120
140
160
20
40
60
80
160
0
100
120
140
20
40
60
80
Oct-01
Oct-01
Jan-00
Jan-00
Oct-01
Oct-01
Jan-00
Jan-00
May-02 May-02
May-02
Aug-00
Aug-00
May-02
Aug-00
Aug-00
Dec-02 Dec-02
Dec-02
Mar-01
Mar-01
Dec-02
Mar-01
Mar-01
Jul-03 Jul-03
Jul-03
Oct-01
Oct-01
Jul-03
Oct-01
Oct-01
Feb-04 Feb-04
Feb-04
May-02
May-02
Feb-04
May-02
May-02
Sep-04 Sep-04
Sep-04
Dec-02
Dec-02
Sep-04
Dec-02
Dec-02
Apr-05 Apr-05
Apr-05
Jul-03
Jul-03
Apr-05
Jul-03
Jul-03
Nov-05
Nov-05 Nov-05
Nov-05
Feb-04
Feb-04
Feb-04
Feb-04
Jun-06
Jun-06 Jun-06
Jun-06
Sep-04
Sep-04
Sep-04
Sep-04
Jan-07
Jan-07 Jan-07
Jan-07
Apr-05
Apr-05
Apr-05
Apr-05
Aug-07
Aug-07 Aug-07
Aug-07
Nov-05
Nov-05
Nov-05
Nov-05
Mar-08
Mar-08 Mar-08
Mar-08
Jun-06
Jun-06
Jun-06
Jun-06
Oct-08
Oct-08
Jan-07 Oct-08
Oct-08
Jan-07
Jan-07
Jan-07
May-09
May-09
Aug-07 May-09
May-09
Aug-07
Aug-07
Aug-07
Dec-09
Dec-09
Mar-08 Dec-09
Dec-09
Mar-08
Mar-08
Mar-08
Jul-10
Jul-10
Oct-08 Jul-10
Jul-10
Oct-08
Oct-08
Oct-08
Feb-11
Feb-11
May-09 Feb-11
Feb-11
May-09
May-09
May-09
Sep-11
Sep-11
Dec-09 Sep-11
Sep-11
Dec-09
Dec-09
Dec-09
Apr-12
Apr-12
Jul-10
Jul-10 Apr-12
Apr-12
Jul-10
Jul-10
Feb-11
Feb-11 Feb-11
Feb-11
US economy continues to demonstrate slow but stable economic recovery
Consumer Confidence Index steadily inching up
Sep-11
Sep-11 Sep-11
Sep-11
Purchasing Managers Index in expansionary mode
Apr-12
Apr-12 Apr-12
Apr-12
10

11. Reasons to invest in US
equities now
Prajna Capital
Call 94 8300 8300 Now!

12. Attractive valuations
S&P 500 Forward P/E Ratio
30.0
28.0
26.0
24.0
Forward PE
22.0
20.0
18.0 Average = 16.9x
16.0
14.0
12.0
10.0
Nov/92
Feb/96
Feb/97
Dec/93
Dec/08
Mar/98
Nov/07
Feb/12
Sep/89
Sep/90
Jan/95
Apr/99
May/00
Oct/91
Jan/10
Jan/11
Aug/03
Aug/04
Sep/05
Oct/06
Jun/01
Jun/02
S&P500 forward P/E ratio is trading below its the long term average
Source: BofA Merrill Lynch. Data through March 2012. Past Performance may or may not be sustained in future.
12

13. Attractive valuations
Spread between S&P 500 Earnings Yield and 10-Year Yields
Stocks Expensive
2.5
1.5
0.5
-0.5
-1.5
-2.5
-3.5
-4.5
-5.5
Stocks Cheap
-6.5
-7.5
64 67 70 73 76 79 82 85 88 91 94 97 00 03 06 09
Most US stocks are currently available at near 30 year low prices*
Source: UBS. Data through March 2012. *Forward P/E/ basis. Past Performance may or may not be sustained in future.
13

14. Attractive valuations
P/E P/E
Company*
(Mar 31, 2000) (May 31, 2012)
Microsoft 57.0 9.7
Hewlett Packard 35.0 8.3
Disney 55.0 16.6
JPMorgan Chase 20.0 9.3
Amgen 60.0 10.0
Exxon Mobil 24.0 10.0
Halliburton 71.0 17.0
Lockheed Martin 18.0 11.5
Medtronic 50.0 11.5
Kimberly-Clark 17.0 18.9
IBM 31.5 14.4
General Electric 30.0 15.8
S&P 500 Index 23.5 13.5
Leading companies with good business fundamentals available at attractive valuations
*Company examples are for illustration purposes only, there is no guarantee that they will form a part of the portfolio of BGF US Flexible Equity Fund
14

15. US Markets: Continued out-performance in recent times
Percentage of companies reporting positive EPS surprises by region (4Q’11)
80%
69% 67%
70%
60%
60%
55% 53% 53%
50%
43%
40%
30%
24%
20%
10%
0%
S&P 500 Russell 1000 Russell 2000 Europe ACWI BRIC EM Japan
Source: FactSet, Bloomberg. Past Performance may or may not be sustained in future.
15

16. Global portfolios are overweight on the US region
Geographic equity preferences of portfolio managers*
Current Next 12-M
US Overweight Overweight
Europe Underweight Underweight
Japan Underweight Underweight
Emerging markets Overweight Overweight
*Source- Bank of America Merrill Lynch Portfolio Managers Survey June 2012
16

17. Prajna Capital
Strong corporate balance sheets Call 94 8300 8300 Now!
Free cash flow yields: 1998 vs. Today
9%
7.9%
8%
7.2%
7%
6%
5%
4%
3% 2.8%
2.3%
2%
1%
0%
1998 Today
Emerging Markets US
Source: Bloomberg. “Today” data as at Feb 29, 2012. Indices used are MSCI Emerging Markets Index and MSCI US Index. Past Performance may or may not be sustained
in future. Free Cash Flow Yield is calculated by dividing Free Cash Flow per Share by Current Market Price of each share.
17

18. Strong Corporate balance sheets: Dividends & buybacks hit a record high
Buybacks plus dividends ($bn)
1,200
1050
1,000
858 880
761
800 706
652
USD bn
587
600 491
363 372 353 350
400 324 329
298
254
222
145 144 156 170
200 132
0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11
Calendar Year
Excess cash in balance sheets has resulted in record buybacks and dividends
Source: Bloomberg. Past Performance may or may not be sustained in future.
18

19. Why DSP BlackRock US
Flexible* Equity Fund?
Prajna Capital
Call 94 8300 8300 Now!
(*The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can invest either in growth or value investment characteristic
securities placing an emphasis as the market outlook warrants)

20. BlackRock: World’s largest Asset Management Company
One of the world’s pre-eminent asset management companies
– USD 3.68 trillion assets under management with USD 1.74 trillion in equity assets
– Broad product range available through mutual funds, ETFs, commingled funds, and separate accounts
– Fiduciary model/culture no proprietary trading
-
– BlackRock Solutions ® oversees USD 12 trillion in assets
– Financial Markets Advisory Group advises public and private financial institutions on key assignments
– Dedicated transitions team helps clients change investment exposure, minimizing risk and cost
Global footprint enables a deep understanding of local markets, industries, and regulatory dynamics
– 24 investment centers worldwide facilitate access to major capital markets
– Global trading capabilities enable us to source assets and negotiate favorable terms for investors
– Superior insights through access to management and perspective as an investor across the capital structure in thousands
of companies worldwide
– Recognized as ‘go to’ leader in recent credit and liquidity crises
Investment insights gained at a local level & shared globally maximize investment opportunities for clients
– Investment platform promotes knowledge sharing across the firm; daily calls connect investment teams, linking the insights
from up to seven trading desks and 79 portfolio teams across asset classes and geographies
– Nearly 10,000 employees, including more than 1,600 investment professionals, leverage the firm’s global resources
– Presence in 67 cities across 27 countries provides local experience and global expertise to a diverse client base
Source: Internal, Bloomberg; as at Mar 31, 2012
20

21. BGF US Flexible Equity Fund: A portfolio well-positioned
Overweight Underweight
• Free cash flow • Dividend yield
• Domestically-sourced earnings • Europe -sourced earnings
• Health care & energy • Financials & utilities
• Adding to consumer discretionary • Reducing consumer staples
Areas of focus/interest
Energy Technology Health care
Apache Accenture Eli Lilly
ConocoPhillips Dell Computer McKesson
Marathon Petroleum Microsoft UnitedHealth
Consumer Cyclical Defensive
DISH Network JPMorgan Kroger
Macy’s Parker Hannifin Lockheed Martin
Time Warner Tyco International Philip Morris International
As at March 2012. The sectors discussed should not be considered a solicitation or recommendation by BlackRock and may not be profitable. Company examples are for
illustration purposes only, there is no guarantee that they will form a part of the portfolio of BGF US Flexible Equity Fund.
21

22. BGF US Flexible Equity Fund: A well-positioned portfolio
Healthcare Financials
• Predictable earnings • Contagion risks from Europe
• Performs well when profits decelerate • Net interest margin pressure
• Big pharma cheap and unloved • Regulatory risks
Risk: Patent cliffs, government austerity Risk: Cheap and unloved
Energy Utilities
• Sector cheap relative to market • Record high valuations
• Sector cheap relative to oil prices • Earnings weakness
• Spending upcycle • Growth prospects poor
Risk: Global slowdown Risk: Risk aversion causes continued interest
Healthcare and energy to outperform utilities and financials
22

23. BGF US Flexible Equity Fund: Portfolio Characteristics (as at May 31, 2012)
Characteristics Sector allocation
Portfolio Russell 1000®
Est. 3-5 Year EPS Growth 9.94% 11.64%
Consumer discretionary 19.25
Number of Holdings 107 977 12.15
Consumer staples 3.76
Dividend Yield 2.0 2.1 10.42
Wtd. Avg. Market Cap. $63.7bn $94.4bn
Energy 16.42
10.21
Price/Book Value 1.6 2.0
Financials 5.26
P/E (FY1) 10.7 16.7 14.86
Health care 16.49
11.70
Top 10 holdings 7.84
Industrials 10.86
(%)
Information technology 20.47
Apple Inc. 3.71 19.20
Exxon Mobil Corp. 2.59 Materials 4.28
3.87
Chevron Corp. 2.52 3.19
Telecommunication services 2.96
Pfizer Inc. 2.27
Verizon Communications Inc. 1.91 Utilities 3.02
3.76
Abbott Laboratories 1.70
0 8 16 24 32
ConocoPhillips 1.53 Percent
Microsoft Corp. 1.53
UnitedHealth Group Inc. 1.48 BGF US Flexible Equity
Goldman Sachs Group Inc. 1.40 Russell 1000 Index
Source: BlackRock, FactSet. Portfolio characteristics are of BGF US Flexible Equity Fund’s portfolio and are subject to change. Holdings are for informational purposes
only and should not be deemed as a recommendation to buy or sell the securities mentioned or securities in the industries shown above.
23

24. BGF US Flexible Equity Fund: Portfolio Management Team
Portfolio Management Team
Chris Leavy, CFA (20) Peter Stournaras, CFA (17)
CIO, Fundamental Equity (Americas)
Portfolio Manager
Portfolio Manager
BlackRock Large Cap Series Resources
Analysts Product Specialist
Dan Hanson, CFA (19) Brett Shaver, CFA (10) Gregory Brunk (20)
Fundamental Analyst Fundamental Analyst Managing Director
Todd Burnside (13) David Gardner, CFA (7) Tim Doherty, CFA (10)
Fundamental Analyst Fundamental Analyst Vice President
Joe Wolfe, CFA (11)
Lead Quantitative Analyst
Team members average nearly 15 years of investment experience
• Portfolio manager defines investment process and strategy and makes buy and sell decisions
• Utilize quantitative research to evaluate opportunities in the investment universe
• Analysts conduct fundamental research on the opportunities identified by the model and provide
input into the buy and sell process
Large Cap Series Equity Team draws on BlackRock’s broad resources
• Diverse equity investment teams
• Scientific Active Equity group
• Risk & Quantitative Analysis group
Prajna Capital
( ) years of Investment experience; as at May 31, 2012 Call 94 8300 8300 Now!
24

25. BGF US Flexible Equity Fund: Bridging Quantitative and
Fundamental Investing
Best of Both Worlds
Quantitative Fundamental
analysis research Integrated
Fundamental
Quantitative Analysis Fundamental &
Research
Actual Quantitative
portfolio
Subjective Objective Pragmatic
Idiosyncratic Scalable Guided focus
Disciplined, informed
Judgmental Systematic
decisions
Portfolio
construction Forward-looking Historically-based Evidential forecasts
Prajna Capital
Call 94 8300 8300 Now!
Combining the Best of BlackRock’s Quantitative and Fundamental Innovation
25

26. BGF US Flexible Equity Fund: Investment Process: Idea Generation
Quantitative Stock
Opportunities
Research
Prioritization Meeting Research List
• Prioritize opportunity • Set research agenda
Fundamental • Set initial conviction • Focus research attention
Stock Opportunities • Determine portfolio • Research coordination tool
complement
Thematic Quantitative
Opportunities
Thematic
Fundamental
Opportunities
The investment process described represents the portfolio management team’s current process for selecting investments for portfolios managed in the style of one of the
Large Cap Series strategies. The investment process is subject to change based on market conditions, the opinions of the portfolio management team and other factors.
26

27. BGF US Flexible Equity Fund: Idea Generation- Internal Quantitative Model
Priced Attractively Accounting we can rely on Fundamental Momentum Investment Sentiment
- How much we pay for - Accruals - Growth - Price Momentum
earnings, assets and cash - Pensions - Stability of Growth - Analyst Revisions
flow - Economic vs. GAAP - Short Interest
- Price implied expectations - Capital Deployment
Model ranks the investment universe from most to least attractive
• Companies above 25th percentile eligible for investment on a quantitative basis
• No more than 20% active weight in stocks scoring below 33rd percentile
Enhancements
• Model leverages BlackRock's significant investment expertise and quantitative investment platforms
worldwide
• Synchronize the model with expected holding period reduce turnover
-
• Weights adjusted based on existing market regime and opportunities
Current process for selecting investments in BGF US Flexible Equity Fund’s portfolio in accordance with its stated investment objectives and policies. Process subject to
change based on market conditions, portfolio manager’s opinion and other factors.
27

28. BGF US Flexible Equity Fund: Research Process
• Individual company template
– Analysis tool and discussion framework
• Identify key drivers/pivotal issuers
– Top risks and opportunities
• Review independent/external bull
-bear case
• Review company filings and conference call
transcripts
• Internal BlackRock insights
• Develop downside, core and stretch targets
Prajna Capital
Call 94 8300 8300 Now!
Systematic Approach, Enabling Focus on Value-Added Analysis
28

29. Risks
• US macroeconomic data continues to demonstrate recovery, although it is a slow recovery
• Sustained job creation is a major challenge
• Fiscal tightening likely in 2013 as spending cuts take effect
• De -leveraging by US households likely to continue impacting consumer spending
• Worsening of the Euro zone crisis will likely have a negative impact on the US financial system
• Weakening US Dollar
Prajna Capital
Call 94 8300 8300 Now!
29

30. Summary: Why invest in DSP BlackRock US Flexible* Equity Fund
• Valuations of US equities at multi year lows
• Relative strength of economy compared to other developed countries
• Corporate balance sheets of most large and mid cap US companies are in good shape
• US equities are likely to continue out-performance over other global equity markets
*The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can invest either in growth or value investment characteristics
securities placing an emphasis as the market outlook warrants.
30

31. DSP BlackRock US Flexible* Equity Fund: Scheme Features
Name of Fund DSP BlackRock US Flexible* Equity Fund (DSPBRUSFEF)
Type of Fund Open ended Fund of Funds Scheme investing in a US Equity Fund
Benchmark Russell 1000 Index
Minimum investment Rs. 5,000/- and multiples of Re. 1/- thereafter
amount
Options Available Growth; Payout Dividend; Reinvest Dividend
Exit Load For holding period < 12months: 1%, holding period >= 12 months: Nil
Fund Managers Mr. Mehul Jani & Mr. Laukik Bagwe
Risk Factors 1. Risks associated with underlying schemes
2. Risks associated with overseas investments
3. Risks associated with investments in debt and money market instruments
4. Risks associated with transaction in Units through stock exchange mechanism
5. Risks associated with trading in derivatives
Please read the Scheme Information Document carefully for details
on risk factors before investment.
*The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can invest either in growth or value investment characteristics
securities placing an emphasis as the market outlook warrants.
31

32. Disclaimer
Investment objective: The primary investment objective of DSP BlackRock US Flexible Equity Fund (Scheme) is to seek capital appreciation by investing predominantly in
units of BlackRock Global Funds US Flexible Equity Fund (BGF - USFEF). The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar
overseas 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 market securities
and/ or money market/liquid schemes of DSP BlackRock Mutual Fund, in order to meet liquidity requirements from time to time. However, there is no assurance that the
investment objective of the Scheme will be realized. It shall be noted ‘similar overseas mutual fund schemes’ shall have investment objective, investment strategy and risk
profile/consideration similar to those of BGF – USFEF. The term “Flexible” in the name of the Scheme signifies that the Investment Manager of the Underlying Fund can invest
either in growth or value investment characteristic securities placing an emphasis as the market outlook warrants. Asset Allocation: Units of BGF – USFEF# or other similar
overseas mutual fund scheme(s): 95%-100%, Money market securities and/or units of money market/liquid schemes of DSP BlackRock Mutual Fund: 0-5%, # in the shares of
BGF – USFEF, an Undertaking for Collective Investment in Transferable Securities (UCITS) III fund. Terms of Issue: Rs. 10/- per Unit. Min Investment – Rs. 5,000/- and multiple
of Re. 1/- thereafter. Load Structure & Expenses: Entry Load – NIL Exit Load- For holding period < 12 months: 1%; for holding period >= 12 months: Nil. Investor Benefits
& General Services: During Continuous Offer, sale (at Purchase Price) and redemption (at Redemption Price) on all Business Days (Redemption normally within 5 Business
Days). SIP, SWP, STP & Nomination facilities available. If the SEBI limits for overseas investments allowed to the Fund are expected to be exceeded, the NFO may be closed
/ subscriptions and switches into the Scheme (During Continuous Offer) may be temporarily suspended / SIP/STP into the Scheme may be terminated. Declaration of NAV
for each Business Day by 10 a.m. of the next Business Day.
Statutory Details: DSP BlackRock Mutual Fund was set up as a Trust and the settlors/ sponsors are DSP ADIKO Holdings Pvt. Ltd. & DSP HMK Holdings Pvt. Ltd. (collectively)
and BlackRock Inc. (Combined liability restricted to Rs. 1 lakh). Trustee: DSP BlackRock Trustee Company Pvt. Ltd. Investment Manager: DSP BlackRock Investment
Managers Pvt. 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 be achieved. 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. Past performance of the sponsor/AMC/mutual fund does not indicate the future performance of the Schemes. Investors in the Schemes are not
being offered a guaranteed or assured rate of return. The Schemes are required to have (i) minimum 20 investors and (ii) no single investor holding>25% of the corpus of
the Schemes. In case of non-fulfillment of the condition of minimum 20 investors, the investor’s money would be refunded, in full, immediately after the close of the New
Fund Offer Period. In case of non-fulfillment with the condition of 25% holding by a single investor on the date of allotment, the application to the extent of exposure in
excess of the 25% limit would be rejected, and the allotment would be effective only to the extent of 25% of the corpus collected. The name of the Scheme does not in
any manner indicate the quality of the Scheme, its future prospects or returns. For detailed Schemes specific risk factors, please refer the relevant Scheme Information
Document (SID). For more details, please refer the Key Information Memorandum cum Application Forms, which are available on the website, www.dspblackrock.com, and
at the ISCs/Distributors.
DSP BlackRock Mutual Fund has used information that is publicly available including information developed in-house. Information gathered and used in this material
is believed to be from reliable sources. The Fund/AMC however does not warrant the accuracy, reasonableness and/or completeness of any information.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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