Right Horizons Portfolio Management Pvt. Ltd. is a portfolio manager registered with SEBI. It offers discretionary portfolio management services. The company was incorporated in 2010 and is a wholly owned subsidiary of Right Horizons Financial Services Pvt. Ltd. The directors have extensive experience in finance and investment advisory. The document provides details on the services offered, risk factors, fees and performance of the portfolio manager.

1. Pc:rtfolioManageme
DeeSrrurderst;urrling.bertel r,:sn]is.
DISCTOSUREDO
Right Horizons Portfolio Manage
Portfolio Managemen
Right Horizons Portfolio
#6,GroundFloor,ArakereVillage,0pp.BritishBiologicals,
t
UMENT
ent Private Limited
Services
ent Pvt. Ltd.
Road,Bangalore-560076.
11.1.

2. FormC
Securities& ExchangeBoardofIndia(Portfolio JRegulations1993,Regulation14
Nameofthe Portfolio Manager:RightHorizonsPortfolio entPvt.Ltd
Regd,OfficeAddress:#6,GroundFIoor,ArekereVillage, BritishBiologicals,Bannerghatta
Road,Bangalore-560076.
ContactNo:+91-080-65687503to 518
Email:contactus@righthorizons-com
Weconfirmthat:
TheDisclosureDocumentforwardedto the & ExchangeBoardofIndia(SEBI)is
in accordancewith the SEBI(PortfolioManagers)
directivesissuedby SEBIfrom timeto time;
1993andtheeuidelinesand
Thedisclosuresmadein the documentaretrue,fair
makea well informeddecisionregardingentrusting
investmentin the PortfolioManagementServices;
adequateto enable the investors to
e managementof theportfolio to us/
The DisclosureDocumenthas been duly by CharteredAccountant,Mr. K.R.
Chartered Accountants, havingVenkkatesh,a PartnerofM/s. ReddyandV
membershipno.211388andofficeat # 7/7,
V.V.Puram,Bangalore- 560004.
Mansion,2nd Floor,DiagonalRoad,
Forandon behalfofRight Horizons Portfolio
AM
$ Wi-t -',,P',/U
,,?"' ,/Anil Reg6
Date:Feb76,2017
Place:Bangalore.
Pvt.Ltd

3. The Boardof Directors,
RightHorizonsPortfolioManagementPvt.Ltd
#6,GroundFloor,ArekereVillage,
Opp.BritishBiologicals,BannerghattaRoad,
Bangalore-560076.
we have examinedthe DisclosureDocumentdated Januaryt8, 2017 for portfolio
Managementpreparedin accordancewith Regulation14 of SEBIfportfolio Managers)
Regulations,1993by RightHorizonsPortfolioManagementpvt Ltd.,havingits officeat #6,
GroundFloor,ArekereVillage,Opp.British Biologicals,BannerghattaRoad,Bangalore-
560076-
Basedon our examinationof attachedDisclosureDocument,auditedannualaccountsof
RightHorizonsPortfolioManagementPvt.Ltd.,andotherrelevantrecordsandinformatron
furnishedby Management,we certifythatthe disclosuresmadein the attachedDisclosure
Documentfor PortfolioManagementaretrue,fair andadequateto enablethe investorsto
makeawellinformeddecision.
We havereliedon the representationsgivenby the managementaboutthe penaltiesor
litigationsagainstthe PortfolioManagermentionedin the disclosuredocument.We are
unableto commentonthesame.
Thiscertificatehasbeenissuedto the SecuritiesandExchangeBoardof Indiafor the sole
purposeof certifl;ingthe contentsof the DisclosureDocumentfor PortfolioManagement
and shouldnot be usedor referredto for any other purposewithout our prior written
consent.
ForReddvand Venkkatesh.
CharteredAccountants
FirmReg.No.01
K.R.Venkkatesh
PartnerMembershipNo.211388

4. RightHorizonsPortfolio
#6,CroundFloor,ArakereVillage,0pp.BritishBiologicals,
ContactNo.:+91-080-65687
iv. Thename,phonenumber,e-mailaddressof th
'
the
DISCLOSUREDOCUMENT
[As per the requirementof Fifth Scheduleof
Boardof India(PortfolioManagersJRegulation1993J
i. The DisclosureDocumenthasbeenfiledwith
Indiaalongwith the certificatein the p
the SEBI(PortfolioManagers)Regulations,1,99
ii. Thepurposeofthe Documentisto provide
managementservicesin a mannerto assist
informeddecisionfor engagingRightHorizons
PortfolioManager.
iii. The DisclosureDocumentcontainsthe
Manager,required by an investor before in
advisedto retainthe documentfor futureref
Fund Manageris: Mr.VinayakV Kanvinde,
Sharma& Mr.GauravAggarwal.
Nameof the Principal Officer: Mr.Anil Rego
Phone:91,9845566522
Email:anilrego@righthorizons.com
Address: #6, GroundFloor,ArekereVillage,
Road,Bangalore-560076.
t Pfi. Ltd.
Road,Bangalore-560076.
to 518
principalofficerso designatedby
on 14 of Securitiesand Exchange
Securities& ExchangeBoardof
formatin termsof Regulation14of
tial informationaboutthe portfolio
enablethe investorsin makins
ortfolio ManagementPvt.Ltd.asa
information about the Portfolio
and the investormay alsobe
BrianMarioMonteiro,Mr. Piyush
BritishBiologicals,Bannerghatta
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5. Tableof Conte
lliT::j::y,::'r:"'Ilf
Disclaimerclause
Definitions
Description
Penalties,litigationandconvi
Servicesoffered
RiskFactors
ClientRepresentatio
TheFinancialPerformanceof Po olio Manager
PortfolioPerformanceonvario
NatureofExpenses
AccountingPolicies
InvestorServices

6. 1) Disclaimerclause:
Theparticularsgivenin this Documenthavebeenp
[PortfolioManagersJRegulations,1993and filedwi
beenapprovednor disapprovedby SEBInor hasSEBI
thecontentsofthedocument.Thisdocumentisnot
furnishedto yousolelyfor yourinformationandmayn
anyotherperson.
in accordancewith theSEBI
SEBI.ThisDocumenthasneither
rtifiedtheaccuracyoradequacyof
publicdistributionandhasbeen
t bereproducedor redistributedto
2) Definitions:
Unlessthe contextor meaningthereofotherwise , the followingexpressionsshall
havethemeaningassignedto themhereunderrespectiely:-
[a] "Act" meansthe Securitiesand ExchangeBoardof In Actr992 {15of L992).
(b] "Agreement"meansagreementbetweenportfoli
includeallSchedulesandAnnexureattachedthereto.
Managerand its Clientand shall
[c] "Application"meansthe applicationmadeby the
placeits fundsand/or securitieswith the portfolio
ent to the PortfolioManagerto
anagerfor PortfolioManagement
Services.Uponexecutionof theAgreementby the po olio Manager,theApplicationshall
be deemedto form an integralpart of theAgreement
betweenthe contentsof the Appticationand the
provisionsoftheAgreementshallprevail.
rovided that in caseof any conflict
rovisionsof the Agreement,the
[dJ"Assets"means(i) thePortfolioand/or [iiJtheF
[e) "BodyCorporate"shallhavethemeaningassigned it in or underclause[7) of section
2oftheCompaniesAct,1956[91of1956J;
[f] "BankAccount"meansoneor moreaccounts
Banks in
maintained
Portfolio Managerwith any of the ScheduledComm
asreement entered into with the Client.
andoperatedby the
accordancewith the
[g] "Board"meansthe Securitiesand ExchangeBoar! of India establishedunder sub-
section[1] ofSection3 ofthe SecuritiesandExchangeBirardof IndiaAct.
(hJ"Client"meansthepersonwhoentersinto anAgreeient with thePortfolioManagerfor
managingitsportfolioand/or funds.
(i) "Custodian"meansanypersonwho carrieson or prioposesto carryon the businessof
providingcustodialservicesin accordancewith theregqlationsissuedby SEBIfromtimeto
time.
(j] "DepositoryAccount"meansoneor moreaccountoi accountsopened,maintainedand
operatedby the Portfolio Managerwith any depqsitoryor depository participant
registeredundertheSEBI(DepositoriesandParticipan{sJRegulations,l-996in accordance
with theagreemententeredintowith theClient.
[k] "DiscretionaryPortfolio ManagementServices"ineansthe portfolio management
selices renderedto the Clientbv the PortfolioManaseron the terms and conditions
containedin the agreement,whereunderthe PortfolipManagerexercisesanydegreeof
discretion in the investments or managementofasset$ofthe Client.
Iir,:i,,:,,:l*,,*u*l l l

7. 2
0] "DiscretionaryPortfolioManager"meansa PortfolioManagerwho exercisesor may,
undera contractrelatingto portfolio.managemenlexerciseanydegreeof discretionasto
theinvestmentsor managementof the portfolioof securitiesor the fundsof the Client,as
thecasemaybe.
[m] "Documents"meansthisDisclosureDocument.
[n] "FinancialYear"meansthe yearstartingfrom April L andendingon March31 of the
followingyear.
[o] "Funds"meansthe moniesmanagedby the PortfolioManageron behalfof the Client
pursuant to Portfolio InvestmentManagementAgreementand includesthe monres
mentionedin the Application,any furthermoniesplacedby the Clientwith the Portfolio
Managerfor beingmanagedpursuantto PortfolioInvestmentManagementAgreement,the
proceedsof the saleor otherrealizationof the Portfolioand interest,dividendor other
moniesarisingfromtheAssets,solongasthesameismanagedbythePortfolioManager.
(pJ"Parties"meansthe PortfolioManagerand the Client;and "Party"shallbe construed
accordingly.
(q] "Person"includesany individual,partners in partnership, central or state
government,company,body corporate,cooperativesociety,corporation,trust, society,
HinduUndividedFamilyor anyotherbodyofpersons,whetherincorporatedor not.
(r] "Portfolio"meansthe Securitiesmanagedby the PortfolioManageron behalfof the
Clientpursuantto the PortfolioInvestmentManagementAgreementand includesany
Securitiesmentionedin theApplication,anyfurtherSecuritiesplacedbytheClientwith the
PortfolioManagerfor beingmanagedpursuantto the PortfolioInvestmentManagement
Agreement,Securitiesacquiredby the PortfolioManagerthroughinvestmentof Fundsand
bonusandrightssharesor otherwisein respectof Securitiesformingpartof the Portfolio,
solongasthesameismanagedbythePortfolioManager.
(sJ"PortfolioManager"shallhavethe samemeaningasgivenin regulation2(cb] of the
SEBI[PortfolioManagersJRegulations,1993asamendedfromtimeto time.
[tJ "PrincipalOfficer"means an employeeof the Portfolio Managerwho has been
designatedassuchbythePortfolioManager.
[u] "Regulations"meansthe SecuritiesandExchangeBoardof
Regulations,1993,asmaybeamendedfromtimeto time.
[vJ"ScheduledCommercialBank"meansanybankincludedin
India[PortfolioManagers]
the secondScheduleto the
ReserveBankof lndiaAct,7934(2 of 1934).
[wJ"SEBI"meanstheSecuritiesandExchangeBoardof lndiaestablishedundersub-section
[1-Jof Section3 oftheSEBIAct.
[xJ"securities"includes:"securities"asdefinedundertheSecuritiesContracts(RegulationJ
Act,1956asamendedfromtimeto timeandincludes:
(i] Shares,scrips,stocks,bonds,debentures,debenture stock or other marketable
securitiesofa likenaturein or of any incorporatedcompanyor other body corporate;
Iii] Derivative;
It.i)('lllT
p,BlQf!$
II
It'rltft,rlri,N4.r r i l g,'r r r ,r r f
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8. 3
[iii] units or any other instrument issued by any cdllective investment scheme to the
investorsin suchschemes;
[iv] Securityreceiptas definedin clause(g) of seltion2 of the Securitizationand
ReconstructionofFinancialAssetsandEnforcementofsecurityInterestAc! 2002;
[vJUnitsor anyothersuchinstrumentissuedto thd investorsunderanymutualfund
scheme;
[vi] Governmentsecurities;
[viiJ Suchother instrumentsas may be declared$y the central Governmentto be
securities;
(viiil Rightsor interestin securities;
[ixJExchangeTradedFunds;and
[xJLiquidFunds.
Wordsandexpressionsusedin thisdisclosure t andnotexpresslydefinedshallbe
interpretedaccordingto their generalmeaningan usage.The definitionsare not
of clarityandshallin additionbeexhaustive.Theyhavebeenincludedonlyfor thep
interpretedaccordingto their generalmeaningand
assignedto themin regulationsgoverningPortfolioM
e and shallalsocarrymeanings
3) Description:
iJ History PresentBusinessand Backgroundof the rtfolio Manager:Right Horizons
PortfolioManagementPrt.Ltd.(RHPMPLIisa compan incorporatedundertheCompanies
Act, 1956 on May 27,20L0, havingits Registered at #6, GroundFloor,Arekere
Village,Opp. British Biologicals,BannerghattaRoad,
whollyownedsubsidiaryof RightHorizonsFinancialSe
Bangalore-560076.RHPMPLrs a
cesPvtLtd.IRHFSPLJ.
RightHorizonsPortfolioManagementPrivateLimited registeredwith SEBIasa Portfolio
Managervidesregistrationno.INP000004359datedA 06,201-2underSEBIIPortfolio
ManagersJRegulations,1993.This certificatehasbee renewedfor the periodof 3 Year
valid from 6/08/2015 to 05/08/2018 by SEBI.gran its approvalfor conductof PMS
businessto RHPMPLsubjectto complianceofthe req mentsspecifiedbv SEBI.
ii] Promotersofthe PortfolioManager,Directorsand
Promoters;
background:
Right Horizons Portfolio Management Services
Horizons Financial servicesPvt Ltd (RHFSPL).
RHFSPL.isa distribution arm of the Right Horizo
managementservices.RHFSPLcatersto awiderangeo
t Services.
Ltd is promoted by Right
Group which provides wealth
lPnrtfoliLrManagenr
I lt'9 rrnd':rrr.n,liut,i.*r,r. i,Nuiri
mer segments.

9. I
ForIndividualsRightHorizonsGrouphasa rangeof solutionsthatsuitsdifferentcustomer
segmentsfrom a Novicewantingt0 dotaxplanningto HighNetworth Individuals.RHalso
catersto Non Residentcustomersfor corporatecustomers.RightHorizonsGrouphasa
servicerangeincludingcorporateTreasury,strategy,Mergers& Acquisition,Fundingetc.
RightHorizonsGrouphasa uniquecorporateHelpdeskmodelwherewe helpemployees
of companiesin taxsavingandplanningtheirinvestments.RightHorizonsGroupsobjective
is to deliver the best risk adjustedreturns,which we achievethrough a contrarian
InvestmentStyle.
Directorsandtheirbackground:
A) Mr. Anil Rego
Heis a CharteredFinancialAnalyst& Holdsan MBAwith specializationin Finance
from ICFAI.He hasworkedin the BusinessPlanningand Mergers& Acquisitions
functionswith the financedepartmentof Wipro Technologies,for 7 years.He has
deliveredGuestLecturesat premierBusiness-Schools.Hehassuccessfullypracticed
the 'Contrarian'
styleof investing,for overa decade.Hewritesweekly/ fortnightly
columnsin leadingNationaland Regionalpublicationslike The Timesof India,
Moneycontrol,Mylris,Rediff.com,FinancialChronicle,Sakshiand Udayavani.His
articles,opinionsandinputsarealsofeaturedin TheHinduBusinessLine,Economic
Times,DreamHomes,TheWee[ amongothers.
B) Mrs. RachnaRego
She finished her mastersin ComputerApplications.She has over 1-5years'
experiencein leadingIT CompaniesincludingWipro and Infosysbetween1994-
2008.In herlastrole,shewashandlingthe deliveryof integrationproductpractice
acrossmultipleaccounts.Shebringsrichexperiencein handlingthelargeteams,pre
salesandquality/process.Shehasbeena visitingfacultyin BusinessSchoolsin the
areasof InformationTechnologyandHumanBehaviors.
Groupcompanyinformation[i.e.informationrelatedto top 10GroupCompanies/firms
ofthePortfolioManageronturnoverbasis]
1-. RightHorizonsFinancialServicesPvtLtd.
2. RightHorizonsInsuranceBrokingServicesPvtLtd.
3. RightHorizonsInvestmentAdvisoryPvt.Ltd.
4. FundzStreetFinancialPlatformPvt.Ltd.
Detailsoftheservicesbeingoffered:
DiscretionaryServices:
iiil
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10. undertheseservices,thechoiceaswell asthetimingsof theinvestmentdecisionsrest
solelywith thePortfolioManagerandtheportfolioManagercanexerciseanydegreeof
discretionin the investmentsor managementof assetsof the client.The securities
invested/disinvestedby the PortfolioManagerfor clientsmay differ from client to
client.The PortfolioManager'sdecision(takenin goodfaithJin deploymentof the
client'sfund'sis absoluteand finalandcanneverbe calledin questionor be opento
review at any time duringthe currencyof the agieementor at any time thereafter
excepton the groundof fraud,malafide,conflictof interestor grossnegligence.This
rightofthe PortfolioManagershallbeexercisedstribtlyin accordancewith therelevanr
Acts,Regulations,guidelinesand notificationsin forcefrom time to time. periodical
statementsin respectto client'sPortfolioshallbesentto therespectiveclient.
Basedon the Client'sprofile,
the Portfolioof the Clientsare
InvestmentStrategies:
overall investment objectiveand other relevant factors,
at present managedunder one or more of the following
1l FlexiCapPortfolioStrategy
2l NiftyPlusPortfolioStrategy
3) SuperValuePortfolioStrategy
4l MultiAssetPortfolioStrategy
5] FixedIncomePortfolioStrategy
6l CapitalProtectionPortfolioStrategy
7l YieldMultiplier- I PortfolioSrrategy
B) AlliancePortfolioStrategy
9) IndiaUnderservedStrategy
101IndiaUndervaluedStrategy
bl Non- DiscretionarySerryices:
Underthe Non-DiscretionaryPortfolioManagementServices,the portfolioof theClient
shallbe managedin consultationwith the Client.Uqder this service,theAssetswill be
managedas per the requirementsof the Clientafterdueconsultation.The Clientwill
havecompletediscretionto decideon the investment(StockQuantityand Priceor
amount].The PortfolioManagerinter aliamanagestransactionexecution,accounting,
recordingor corporatebenefits,valuationandreportingaspectsonbehalfoftheClient.
c] AdvisoryServices:
Undertheseservices,the PortfolioManagerprovidesonly investmentadvice.Entry/
exittiming,executionandsettlementaresolelytheClient'sresponsibility.
4) Penalties,litigation and convietion details:
Ii:::t:::::y,t1i

11. 6
Penalties,pendinglitigationor proceedings,findingsof inspectionor investigationsfor
whichactionmayhavebeentakenorinitiatedbyanyregulatoryauthority:Nopenalties/
directionshavebeenissuedby the sEBIunderthe SEBIAct or Regulationsmadethere
underrelatingto PortfolioManagementServices.Therearenopendingmateriallitigations
or legalproceedings,fihdingsof inspectionsor investigationsfor which actionhasbeen
taken or initiated by any regulatoryauthority againstthe Portfolio Manageror its
Directors,principalofficersor employeesor any persondirectlyor indirectlyconnected
with the PortfolioManagerunderthe SEBIActandRegulationsmadethereunderrelating
to PortfolioManagementServices.
5) ServicesOffered:
ThePortfolioManagermanagestheAssetsoftheClientusingthefollowingStrategies:
a) RHMULTIASSETPORTFOLIO:
Fund Manager: Mr. Vinayak Kanvinde
Multi AssetPortfoliois constructedacrossdifferentassetclasswhichoffersbetter
and higher returns during different Macro Economicconditions.Multi Asset
Portfoliogoesa stepfurtherto evenincludeMutualFundsandUnlistedSecurities
andNiftylinkeddebentures.
Features:
: ) . / ' i l - l '
t;?J i I I
RIZON lyt:::::l:::ri:i,:r"n'
T. All casesof penaltiesimposedby the Boardor the directionsissuedby the
Boardunderthe Act or Regulationsmadethereunderrelatingto Portfolio
ManagementServices.
N.A.
2. Thenatureofthepenalty/direction N.A.
3. Penaltiesimposedfor any economicoffenceand/or for violationof any
securitieslawrelatingto PortfolioManagementServices-
N.A.
A
Any pendingmaterial litigation/legalproceedingsagainstthe Portfolio
Manager/keypersonnel with separate disclosureregarding pending
criminalcases,if anv
N.A.
5. Any deficiencyin the systemsand operationsof the PortfolioManager
observedby the Boardor any regulatoryagencyin relationto Portfolio
ManagementServicesforwhichactionmayhavebeentakenor initiated.
N.A,
6. Any enquiry/adjudicationproceedingsinitiatedby the Boardagainstthe
PortfolioManageror its directors,principalofficeror employeeor any
persondirectlyor indirectlyconnectedwith the PortfolioManageror its
directors,principalofficeror employee,undertheActor Regulationsmade
thereunderrelatingto PortfolioManagementServices
N.A.

12. 7.-
MultiAssetPortfoliois designedto suitthe clientneedsandis quitedynamicin
naturei.e.asper the changein marketconditionchangeswill be madein asset
allocationto keepit alignedwith the clientneedsandrisk level
Theportfoliohastheabilityto participateonopportunitiesacrossassetclasses
Thoughtheinvestingstrategyis built to suitfor theclientneeds;investor,swith
longterm horizonscaninvestandgainonthebackof superiortimingandasset
allocationskillsbuiltfor thisoortfolio
b) RHFLEXTCAPPORTFOLIO:
Fund Manager: Mr. Vinayak Kanvinde
A truly dynamicportfoliowith theabilityto participateinto assetsclassesaccording
to medium term macro-economicoutlook.The portfolio could typically have
equities,commodities,derivativesand fixed income instruments,thoueh the
overwhelmingportioncouldcompriseof equities
Features:
o Flexicapis built to suitthe macrosituationprevailingat anypointin time.This
meansthe portfoliocompositionchangesdependingupon how the prevailing
conditionontheGlobal/lndianmacro.
. Theportfoliohasthe abilityto participateon opportunitiesacrossassetclasses
and market capsand capturesthe upsidein any assetclassthat might be
positionedto deliver
r TheFlexicapPortfoliofollowsa contrarianstyleof investing
r Though the investing strates/ is built to suit for the short/medium term;
investor'swith longterm horizonscaninvestandgainon the backof superior
timingandassetallocationskillsbuiltfor thisportfolio
RHNIFTYPLUSPORTFOLIO:
Fund Manager: Mr, Vinayak Kanvinde
Theportfolioseeksto generatecapitalappreciationovera relatively'medium-to-
long'term period.The ideaof the portfoliois to stayabovethe benchmarkat all
times.
Features:
o Portfolio composition with typically 650/oin Nifty Index names with active
managementofnamesandbalancefrombroaderindex.
. Typicalportfolioholdingswouldhavenot morethan 20-30stocksandkeeping
NiftvIndexasbenchmark.
. . 4
,c)
k**:,:,*y,bcI
OR tlf

13. OverallPortfolioto havelowerchurnedand
realignmentchurningwouldbehigher
8
only in caseof large scaleportfolio
d) RHFrXEDTNCOMEPORTFOLTO:
Fund Manager:Mr. Vinayak Kanvinde
The primary investmentobject of the
r Thelist of securitieswouldbea mix of diverbedurations,businessesandwould
allow for highportfolio flexibility.
andtherefore
o We would endeavor to generate on a t basissuperiorrisk adiusted
returns and capitalappreciationby taking an activeview on the marketsin
Fund Manager:Mr. Vinayak Kanvinde
Thisportfolioaimsto provideinflationbeatingreturns,andyet protectcapitalby
combiningfixedincomeand equitiesto createa combinationakin to a balanced
portfolio.
Features:
. Around80o/oof portfoliowould be investedinto well rated mediumduration
tradablesecuritiesovera periodoftimewithlamediumto highlevelofliquidity.
The securitieswould be dynamicallymarlagedand this would provide for
adequatesafety
e)
T
|*r,:rl,*y,r,*ase'i'enr
throughinvestmentsin debt and moneymar|<etinstrumentsin order to make
timelyinterestpayment.Thisissuitedfor investorswith verylow riskappetite.
Features:
. 0nly highlyratedpapersandinvestmentsinto businesseswith stability,safety
andhighfinancialflexibility.
o Carewouldbe takento seethereis sufficie4tliquidiryin the securitiesthat we
areinvestinginto.
r Thedurationof the debtportfoliowouldpriinarilybemanagedwith anattempt
to generatecouponincomewith minimuminterestraterisk.
o The securitieswould be dynamicallyma4agedand this would provide for
^ l ^ ^ , , ^ ! ^ ^ ^ C ^ & .
duYqu.r(r J<rrrLy.
termsof interestratemovementsor anyothqrfactorthat mayaffectit.
RHCAPITALPROTECTIONPORTFOLIO:

14. r Thelist of securitieswouldbea mix of diversedurations,businessesandwould
allow for highportfolio flexibility.
o Total term of the portfolio is recommendedto be around 24 months and
thereforethedurationofthe portfoliowouldaveragelessthan5 years.
' Equityportionof theportfoliowouldbelimitedto 20yoor lowerat alltimes
o Equi$ exposurewould be on ETF'sand this would provide for dynamic
management,lowertransactioncostsandliquidiW.
0 RHSUPERVALUEPORTFOLTO:
FundManager:Mr.VinayakKanvinde
This portfolioaimsto provideinflationbeatingreturnsover a longduration,and
createsustainablewealthovera longtimeframe.
Features:
. invest typicallyin the BSE500 index.The stockswe investare after doins
thoroughprimaryresearchonthesame.
o A recommendedholdinghorizonis over36 monthssincethe thesisplayout in
smallernamescouldtakelongerthanenvisaged.
. Benchmarkedto the CNXMIDCAPindex;this portfolioseeksto outperformits
benchmark
. Typicalholdingscouldrangebetween20-25stocksfrom a varietyof sectorsto
protectdownsideandlowervolatility;modelportfoliowouldhavenomorethan
50stocks,
g) RHYIELDMULTIPLIERPORTFOLIO:
Fund Managerl Mr. Brian Mario Monteiro
Theprimaryinvestmentobiectof the portfoliois to generatehighincomethrough
investmentsin securedsecuritiesfrom the real estatesector/projectsincluding
debt,mezzaninedebtandpreferredequity.Thisinvestmentis suitedfor investors
with mediumto highriskappetite.
Features:
r Yield multiplier predominantly invests in high yielding securities with
underlyingreturnsof 1,7- 24o/owith optionsto alsouseequityinstruments
o Diversifiedacrossin differentcompaniesoverthetenureofthe fund
o Payoutsare reinvestedby the fund managerwhich helps to compoundthe
returns & ensure that customergets a larger corpus at the end. The fund
managercouldchooseto makepayoutsbasedonthemarketenvironment
|:,r::*:,*v*r

15. 10
Lowcoststructurecomparedto similarfunds
h) RHALLTANCEPORTFOLIO:
Fund Manager:Mr, Vinayak Kanvinde
This portfolioaimsto provideinflationbeatingreturnsover a longduration,and
createsustainablewealthoveralongtime frame.
Features:
. Investtypicallyin the all assetclass.The stockswe invest are after doinq
thoroughprimary researchonthe same.
o A recommendedholdinghorizonis over24 monthssincethe thesisplayout in
smallernamescouldtakelongerthan envisaged.
r This portfoliois benchmarkedto Hybrid indicesbasedon option chosenand
aimsto beatthe indexin thelongdurationtime frames.Wehavebenchmarked
currentlywith NSEQuality30 Index.
. Onetime Setupfeesandcompetitiveannualfeeprovidesfor profit retentionby
theinvestor
i) RH TNDIAUNDERSERVEDPORTFOLIO:
Fund Manager:Mr. PiyushSharma
This portfolio aims to provide inflation beatingreturns over a long duration,and
createsustainablewealthoveralonstime frame.
Features:
o Investtypicallyin the all assetclass.The stockswe invest are after doing
thoroughprimary researchonthe same.
. A recommendedholdinghorizonis over36 monthssincethethesisplayout in
smallernamescouldtakelongerthanenvisaged.
o Thisportfolioisbenchmarkedto CNXNifty Index.
o Onetime Setupfeesand competitiveannualfeeprovidesfor profit retentionby
theinvestor
RHINDIAUNDERVALUEDPORTFOLIO:
Fund Manager:Mr. GauravAggarwal
i)
Ir:::l::::y,:*rr:,:*n'

16. r '
IT
This portfolio aims to provide inflation beatingreturns over a long duration,and
createsustainablewealthovera longtime frame.
Features:
o Investtypicallyin the all assetclass.The stockswe investare afterdoing
thoroughprimaryresearchonthesame.
. A recommendedholdinghorizonis over36 monthssincethe thesisplayout in
smallernamescouldtakelongerthanenvisaged.
o Thisportfolioisbenchmarkedto CNXNiftyIndex.
o one time setupfeesand competitiveannualfeeprovidesfor profit retentionby
theinvestor
The PortfolioManagermay designand developvariousserieskeepingin mind market
conditionsand may be customizedfor Client'sspecificneed/ profile.The Portfolioin all
caseswill be guidedstrictly by the relevantguidelines,Acts,Rules,Regulations,and
notifications prevailing in force from time to time. The instrument may be principal
protectedor non-principalprotected,which may have fixed or variablepay-offs.The
investmentobjectiveof the PortfolioManagershallbe preservationandgrowthof capital
and at the sametime endeavorto reducethe risk of capitalloss.However,while the
aforesaidis the objective,it needsto be reiteratedthat therecanbe no assuranceand/or
guaranteeof suchgrowth or evenas regardspreservationof capitalor of there being no
capitalloss.Theamountinvestedby theclientsundertfis strategymaybesubjectto a lock
in periodasdetailedin theScheduleto theagreementbetweentheClientandthePortfolio
Manager.All the abovementionedstrategiesare usedunderthe discretionaryportfolio
managementservicesaspertheRegulationsspecifiedby SEBI.
The main features under Discretionary Portfolio ManagementServicesare:
InvestmentunderPortfolioManagementServiceswill be onlyasper the SEBIpMS
RegulationsL993
Theuninvestedamountsformingpart ofthe Client'sAssetsmayat the discretionof
thePortfolioManagerbeheldin cashor deployedin Liquidfundschemes,Exchange
TradedIndexFunds,debt orientedschemesof Mutualfunds,Gilt schemes,Bank
depositsandothershortterm avenuesfor Investment.
The PortfolioManager,with the consentof the Client,may lend the securities
throughanApprovedIntermediary for interest.
The PortfolioManagerwill not investany of the fundsof the Clientin the shares,
mutualfunds,debt,depositsandotherfinancialinstrumentsofgroupcompaniesof
thePortfolioManager.
|:ff:,i::,,y:::nN
T
7A
R$CH
HORI, l]!

17. T Z
F Customerswill also be provided with periodic Valuation report, quarterly
performancereport, Periodic transactionstatement (if anyJ, and euarterly
transactionstatements.
F ApartfromDiscretionaryPortfolioManagementServices,thePortfolioManageralso
offersNon-DiscretionaryPortfolioManagementSeruiceswhereinthe choiceaswell
asthetimingsof the investmentdecisionsrestsolelywith the Client.ThePortfolio
ManagermanagestheAssetsofthe Clientin accordancewith thedirectionsgivenby
theClient.FurtherthePortfolioManageralsooffersAdvisoryPry Portfolio Management
ServiceswhereinthePortfolioManageronlyrendersinvestmentadviceto theClient
in respectof securities.Discretionto executethetransactionsandresponsibilityfor
execution/settlementofthetransactionsliessolelywith theClient.
) MinimumPortfolioSize:Rs.25 lakhsor any amountnot lessthan the statutory
minimumasmaybespecifiedbythe PortfolioManagerfrom time to time.
6) Risk Factors:
Theinvestmentsmadein securitiesaresubjectto marketrisk andFollowingarethe risk
factorsasperceivedby management:
Investmentin equities,derivativesandmutualfundsandExchangeTradedIndexFundsare
subiectto market risks and there is no assuranceor guaranteethat the objectiveof
investmentswill beachieved.
Aswith anyinvestmentin securities,theNetAssetValueof theportfoliocangoup or down
dependinguponthefactorsandforcesaffectingthecapitalmarkets.
The performanceof the portfoliomay be affectedby changesin Governmentpolicies,
generallevelsof interestratesand risksassociatedwith tradingvolumes,liquidityand
settlementsystemsin equityanddebtmarkets.
Thepastperformanceof the PortfolioManagerdoesnot indicateits futureperformance.
Investorsarenotbeingofferedanyguaranteedreturns.
Theperformanceof theAssetsof the Clientmaybeadverselyaffectedby the performance
of individualsecurities,changesin the market placeand industryspecificand macro-
economicfactors.In caseof real estatefundsthere are risk inherentto the Realestate
relatedBusinesssuchasdisputeontitle,availabilityofraw materials,adverseGovernment
policies,projectlocation,macroandmicroeconomicconditionetc.,thoughreasonablecare
is taken to addressthis risk. The investment strategiesare given different namesfor
conveniencepurposeandthe namesof the Strategiesdo not in anymannerindicatetheir
prospectsor returns.
Investmentsin debtinstrumentsand otherfixedincomesecuritiesare subjectto default
risk,liquidity risk andinterestrate risk. Interestrate risk resultsfrom changesin demand
andsupplyfor moneyand othermacroeconomicfactorsandcreatespricechangesin the
l*r:l::*y,:j,ase'1{:nt$c HT
N

18. I 5
valueof the debtinstruments.consequently,the NetAssetvalue of the portfoliomay be
subjectto fluctuation.
Investmentsin debtinstrumentsaresubjectto reinvestmentrisksasinterestrates
prevailingon interestamountor maturity duedatesmay differ from the originalcouponof
thebond,whichmightresultin theproceedsbeinginvestedata lowerrate.
The PortfolioManagermay investin non-publiclyoffereddebt securitiesand unlisted
equities.ThismayexposetheClient'sportfolioto liquidityrisks.
Engagingin securitieslendingis subjectto risksrelatedto fluctuationsin collateralvalue/
settlement/liquidity/ counterparfy.
The Portfolio Managermay use derivativesinstrumentslike index futures,stock futures
and optionscontracts,warrants,convertiblesecurities,swap agreementsor any other
derivativeinstrumentsfor the purposeof hedgingand portfoliobalancingas permitted
under the Regulationsand guidelines.Usageof derivativeswill exposethe Portfolioto
certainrisksinherentto suchderivativesasandwhenthe PortfolioManagerdealsin the
derivativesmarketon behalfof the Clien!therearerisk factorsandissuesconcerninsthe
useof derivativesthatinvestorsshouldunderstand.
Derivativeproductsare specializedinstrumentsthat requireinvestmenttechniquesand
riskanalysesdifferentfromthoseassociatedwith stocksandbonds.Theuseofa derivative
requiresan understandingnot only of the underlyinginstrumentbut of the derivative
itself.
Derivativesrequirethe maintenanceof adequatecontrolsto monitor the transactions
enteredinto, the ability to assessthe risk that a derivativeaddsto the portfolio and the
abilityto forecastpriceor interestratemovementscorrectly.Thereis thepossibilitythata
lossmaybe sustainedby the portfolioasa resultof the failureof anotherparty (usually
referred to as the "counterparty") to complywith the terms of the derivativescontract.
Otherrisks in usingderivativesincludethe risk of mispricingor impropervaluationof
derivativesand the inability of derivativesto correlateperfectlywith underlyingassers,
ratesandindices.Thus,derivativesarehighlyleveragedinstruments.Evena smallprice
movementin the underlyingsecuritycouldhavea largeimpactontheir value.
Thereare inherentrisksarisingout of investmentobjectives,investmentstrategy,asset
allocationandnon-diversificationof portfolio.
The Net AssetValuemay be affectedby changesin settlementperiodsand transfer
procedures.
7) PotentialConflictofinterest:
a] FundManagersareallowedto havepersonalinvestmentsinto thefundsofthe portfolio
Manager.However,theyarefollowingprincipalof arms-lengthandtreatedonparwith any
other customerof theportfolio manager.
bJ Fundmanagersabideby the codeof conductwhich allowsthem to manageoff shore
fundsif any.Subjectto,theirabidingthecodeof conductnotto allowthesefundsto bewith
conflictof interestagainstportfolio Manager'sfunds.
I - -
lHortl()llo vlanilgHllr
I let! undet5mrtlnrsbertsff,rs{ttr.
tll

19. 14
c) Other Groupentitiesof the portfolio managerundertakedistributionservices.The
portfoliomanagermayavailservicesfromtheseentitiesat onarms-lengthbasis.
7) CIientRepresentation:
a] Detailsofclient'saccountsactivated:
SN Categoryofclients Total No. of
clients (
portfolio-wise
cummulative)
Fundsmanaged
(Rs.Crores)
Discretionary
/Non-
Discretionary
Iif available)
Associates /group
companies (Last 3
vearsl
NIL NIL
Others:{Last3vears)
20t2-13 3 INR1 crore Discretionarv
2013-t4 158 INR68.26crore Discretionarv
2074-t5 315 INR117,54crore Discretionary
2015-L6 458 INR155.0789
crore
Discretionary
20t5-t6 1 INR0.50crore Advisory
2016-17(Halfyear) 507 rNR184.094
crore
Discretionary
2016-17fHalfvear) 1 INR0,50crore Advisory
"FundsManaged"indicatesmarketvalueof AssetsunderManagement.Theabovefigures
are givenin compliancewith amendmentto the SEBIfPortfolioManagersJRegulatrons,
1993datedAugust1-1,2008.
rtecf"lT
R In*:*,y,r*iiser'|1
bJ KeyManagementPersonnel[PortfolioManagementServices):
Anil Rego CEOandPrincipalOfficer
RachnaRego ComplianceOfficer
VinayakKanvinde VP- FundManager
PiyushSharma FundManager
Brian Mario Monteiro FundManager
GauravAggarwal FundManager

20. t )
Transactions with related parties for the period till pnded 3othsep 2016 (Amount in
Rupees)
nik horiaoir PortnoEofiborslrE ir Prhre Urir.d
$6,&dfrlrli RodAr||r+E€af,lrEfiE{tr
norEtFgRia$Eaf4Rt {F psncT
f,lbtrd F.rf,, trrr8 Etio&5
Sis.r.E|J;|a ar.!9,1ir!d 4..4.6$r"riog St:ndrrd 1*
-gdrtrd
F:rty g&*oerxdz- ir:ic&lbar5 -
r, $!!r!5 df rElst Frrshr :$d d.lcrwoi af rer{i&rrhip s;*! rit. t..rft
glrE6!d.& l{s,rrnrfirBEri3l Fcrlor"lel AaAfrrrcGf,r6o
Siru*t*r, thr..bntid.r & l{ry rnxragcri{ per:orlracl. Rrrll'}r BlEo
tioldhg..a$Frrll *igfrt flori.Brl! Fnjmdd 5cr-rire FFiletGUtriteti
mfifi in lnhi{h Eirlrts{ rlEPra!?lcr: *idri
b- Trlrs:di3r,5
A bEfl3 8or.or€d 4rdEs tlE od
Poltfoli o lr,lanagelren
D.ep undefdindiig,l€n r r..ul!.
]HT
Comrnr'rebrprid durinf, dE f Y
llorir!fts fin#id Srrvi!.. P.hntr [.idia.d
f rlnri.r &rBo -Qitn$.r" Shlr.llald.r & gs/
lisrilor,s {dvi'Giy' F-fi'l i|} rrhidt B;rllre
"rE

21. .'
t6
L TheFinancialdetailsofPortfolio Manager
(BasedonauditedfinancialStatementsJ
Financialhighlightsof RightHorizonsPortfolioManagementPft Ltd.for the last4 years
aregivenasunder:
Particulars Fortheyear
endedMarch
3L,2016
Forthe year
endedMarch
30,2015
Fortheyear
endedMarch
37,2074
Forthe year
endedMarch
37,2013
Profit trefore
depreciation& tax&
After Exceptional&
ExtraordinaryItemsINet
of Taxl
1,768,242 557,760 [58s,469] (L,467,9s8)
Less:Depreciation 451,090 677,367 289,764 390,181
Less:Provisionfor tax 148,300
Less/[Add):Deferred [1s7,604) 1 q't 4q?
[184,071] (74,918)
Less:FringeBenefitTax
Less:WealthTax
Less:ProvisionforTax
fforpreviousyearl
Profit/[LossJfor theyear
after tax
726,456 [20s,100J (6e0.s62) (7,783,221)
Add/[LessJ:BalanceB/F
fromPreviousvear
Balancecarriedto
BalanceSheet
9. Portfolio Performance on various schemes
PortfolioManagementperformanceofthe PortfolioManagerfor the last4 yearsBasedon
ModelPortfolioand in caseof discretionaryPortfolioManagerdisclosureof performance
indicatorscalculatedusingweightedaveragemethodin termsof regulation14 of the SEBI
IPortfolioManagersJRegulation1993.
Portfolio
l-er&rllslsgtz"l
1 Month 3 Months 6 Months 1Year
Since
Inception
Nifty PlusPortfolio | +.ooVo l -t.toVo I r.g
CNXNifty Index 4.59o/o -0.75o/o -0.89o/o 73.19o/o 70.29o/o
BSE500 Index J.O J "/0 -t.84D/o 0.64o/o 76.44o/o 10.58%
t--iT
|:r,***,,,y*,,:l::"*n'

22. 17
CNXMidcapIndex 6.680/o -4.360/o 4.BBot 19.990/o 1,4.75o/o
G-SecIndex 0.0070 0.000/o 0.009 0.00% 3.48o/o
6.85o/o
NSEQuality30Index !.70o/o -3.200/o -4.27 5.29o/o 6.860/o
CNXNifty Index 4.59o/o -0.75o/o -0.89o/o 13.I9o/o ll.32o/o
(
G-SecIndex 0.00%o 0.00% 0.0002 0.0070 2.940/o
Underserved, ,. .,.,r1':
Portfolio . , ..
'2,r0*",'; t4.tl
CNXNiftv Index 4.59o/o -0.75% -0.99(b 13.l9o/o 4.0!o/o
CNXNiftv Index 4.590/o -0.75o/o -0.890/,0 t3.'1,9o/o 4.01o/o
Note:Performancefor theperiodending]an2017
10.Natureof Expenses
i) Investment Management& Advisory Fees:
Managementand Advisoryfeeschargedmay be a fixgd fee or a return basedfee or a
combinationof both as detailedin the Scheduleto the PortfolioManagementServices
agreement.The Feesmay be chargedupfrontand/or at the end of a specifiedtenureas
agreedbetweentheClientandthePortfolioManager.
iiJ CustodianFees:
Asmaybedecidedbetweenthe Clientandthe PortfolioManager
iiil Registrar & Transfer Agent Fees:
NIL
iv] Brokerage & Transaction Cost:
The listed investmentsunder PortfolioManagementwould be donethroughregistered
membersof the StockExchange(sJwho chargebrokerageup to a maximum of 2.5o/oof
contract value. In addition to the brokerage,trans4ction cost like network charges,
turnover charges,stampduty,transactioncosts,turnovgr ta& Securitiestransactiontax or
anyother tax leviedby statutoryauthorities,foreigntrainsactionchargesfif any) andother
chargeson the purchaseand saleof shares,stocks,bonds,deb! deposits,other financial
|i*,*:,*y*****"

23. instruments
ServicesPvt.
basis. Entry
Clients.
v] ServiceTax:
Asapplicablefrom time to time.
vil DepositoryChargesr
Asapplicablefromtimeto time.
viiJ Entry Load/Exit Load
Asmaybemutuallyagreedto betweentheClientandthePortfolioManager
viiiJ Certification and professional charges:
Chargespayablefor out sourcedprofessionalserviceslike accounting,auditing taxation
andlegalseruicesetc.for documentation,notarizations,certifications,attestationsrequired
bybankersor regulatoryauthoritiesincludinglegalfeesetc.
ixJIncidentalexpensesi
Chargesin connectionwith day-to-dayoperationslike courier expensesstamp duty,
serviceta& postal,telegraphic,and openingand operationof bankaccount,distribution
chargesor anyotheroutof pocketexpensesasmaybeincurredbythePortfolioManager.
11.Taxation
The followinginformationis basedon the law in forcein Indiaat the datehereof.The
informationsetforth belowis basedon the PortfolioManager'sunderstandingof the Tax
Lawsasofthis dateof DisclosureDocument.Theclientshouldseekadvicefromhis/her/its
own professionaladvisorif he/she/itis in anydoubtregardingthetaxationconsequences
of investingin the ProductsofferedunderPortfolioManagementServices.
IncomeTax:
Themaximumtaxesratesapplicableto differentcategoriesofassessareasfollows:
18
would also be levied by the broker [includingRight HorizonsFinancial
Ltd.J.Thedistributionservicesof RHFSPLif availed,will be on Arms-length
or exit loads[if anyJon units of MutualFundswill alsobe chargedfrom
Residentindividual& HUF
PartnershipFirms&lndianCompanies
Non-residentIndians
Foreigncompanies
30%o+ surchargeI ifapplicableJ+Cess
3070+ surchargeIIf applicable]+cess
30%+ surchargeI If applicable)+Cess
40%+ surchargeIif applicable]+Cess
Assesses Rateof surchargeapplicable
Individuals (including NRIs/PIOsJ,HUFs,
Non-CorporateFIIsif incomeexceedsRs1
crore.
15o/oof surchargeon Income Tax and
educationcessof 3 percentispayableonthe
totalamountoftaxplussurcharge.
DomesticCompanieswhere the taxable
income exceeds Rs. 1 crorebut doesnot
exceedRs.10crore.
7o/oof surchargeon Income Tax and
educationcessof 3 percentispayableonthe
totalamountoftaxplussurcharge.
Domestic Companies where the taxable
incomeis in exceedsof Rs.Rs.L0crore
L20/oof surcharge on Income Tax and
educationcessof 3 percentis payableon the
R If,,,'*1,*:l*l:Y,::'''n'

24. 19
totalamountoftaxplussurcharge.
Foreign Companieswhere the taxable
income exceedsRs.l crorebutdoesnotexceed
Rs.10crore.
2o/oof surchargeon IncomeTax and
educationcessof3percentispayableonthe
totalamountoftaxplussurcharge.
DomesticCompanieswhere the taxable
incomeisin exceedsof Rs.Rs.10crore
5o/oof surchargeon Income Tax and
educationcessof 3 percentis payableonthe
totalamountoftax plussurcharge.
TheDividendreceivedin respectof the sharesandincomereceivedin respectof unitsof
MutualFund held in the Productsofferedunder the PortfolioManagementServicesis
exemptfrom tax in the handsof investor.
However,the dividend/incomedistributionon securitiesand units receivedby products
offeredunder the PortfolioManagementserviceswill be after distributiontax on the
amountofdividend/incomedistributiondeclared.
CapitalGainsTax
aJLOngrerm
ForIndividuals,HUF,PartnershipsFirmandIndianCompanies
FromOctoberl, 20O4in caseof sharesandsecuritiesandunitsof equityorientedschemes
sold on a recognizedstock exchange,which are subjectto SecuritiesTransactionTax
[currently0.t25o/o),the tax on LongTerm CapitalGainwould be Nil. Longterm capital
gainsin respectof otherlistedsecuritiesor unitswould be subjectto tax at the lower of
2070[plussurchargeandeducationcessJofthe gainscomputedaftercostindexation
bl ShortTerm
For Individuals,HUF,PartnershipsFirm and IndianCompaniesShort-termCapitalGains
areaddedto thetotalincome.Totalincomeincludingshort-termcapitalgainis chargeable
to tax as per the relevantslabrates.However,tax on short term capitalgainson saleof
sharesand units of equity orientedfunds on a recognizedstock exchange,which are
subjectto SecuritiesTransactionTaL wouldbe @ lSo/rt(plusapplicablesurchargeandan
educationcessJ.Provisions regardingDividendincomeand BonusAccordingto the
k":::t:t:::y,:
Typeof Distribution RateofTax (%) (IncludingSurchargeof 5.0%and
EducationCessof 3%o)
Dividends from
Companies
16.9950/o
IncomeDistribution on
Units
MoneyMarket
Funds
OtherthanMoney
MarketFunds
Equity
Oriented
Funds
Individualsand H.U.F. 28.84o/o 28.84o/o Nil
N t1r

25. z0
provisionsof Section9aQ) of the Act,lossesarisingfrom the sale/redemptionof units
purchasedwithin 3 monthsprior to therecorddate(for entitlementofdividendsJandsold
within 9 monthsaftersuchdate,is disallowedto theextentof incomeonsuchunitsfother
thanonsale/redemptionJclaimedastaxexempt.
Accordingto the provisionsof Section9a[8] of the Act, if an investorpurchasesunits
within 3 monthsbeforethe recorddate(for entitlementof bonusJandsells/redeemsthe
units within 9 monthsafter that date,and by virtue of holdingthe originalunits,he
becomesentitledto bonusqnits,thenthelossarisingon transferof originalunitsshallbe
ignoredfor the purposeof computinghis incomechargeableto tax. In fact,the lossso
ignoredwill betreatedascoft ofacquisitionofsuchbonusunits.
TaxDeductionat Source
Dividendincomedistributiohonsecuritiesandunitsisnottaxablein thehandsofrecerver.
TDSis deductibleon interes{incomeandwould be deductedby the issuerofsuch security.
12) Accounting Policies:
ThefollowingAccounting cywill beappliedfortheinvestmentsof Clients:
a] Investmentsin Equities, utual funds,ExchangeTradedFundsand Debtinstruments
will bevaluedat closing pricesofthe exchanges(BSEor NSEasthecasemaybeJor
declaredfor the relevantschemeon thedateof thereDortthe RepurchaseNetAssetV
or any cutoff date or the market value of the debt instrument at the cutoff date.
Alternatively,the last le priceson the exchangeor the most recentNAVwill be
reckoned.In caseof stru products,theportfoliowill bevaluedat thefacevalueofthe
productuntiltheexpiryof etenure.
bJRealizedgains/losses
PortfolioManagerand
becalculatedby applyingthe first in/ first out principle.The
Client can adopt any specificnorms or methodologyfor
valuation of investmentsor
on a casespecificbasis.
ting the sameas may be mutually agreedbetweenthem
cl Forderivativesandfu andoptions,unrealizedgainsandlosseswill becalculatedby
markingto markettheopen ns.
d] Unrealizedgains/losses the differencesin betweenthe currentmarketvalues/NAV
andthehistoricalcostofthe ecurities.
eJ Dividendon equity and intereston debt instrumentsshallbe accountedon
Funddividendshallbe accountedon receiDtbasis.Otneraccrual basis.Further M
incomelike bank interest,
fJ Bonus sharesshall be
restonFDetc.shallalsobeaccountedonreceiptbasis.
only when the originalshareson which the bonus
entitlementaccruesare onthestockexchangeonanex-bonusbasis.
g) Rightentitlementshall recognizedonlywhentheoriginalsharesonwhichtheright
entitlementaccruesare tra on the stockexchangeon an ex-rightsbasis.
h) The cost of investmenta uiredor purchasedshallincludebrokerage,stampdutyand
HT
ORIZON|:r,:'r*ry.,::iff:""'
anychargecustomarilyincl edin thebrokerscostnote/boughtnote.

26. TheAccountingPoliciesandStandardsasoutlinedabovearesubjectto changesmadefrom
time to time by PortfolioManager.However,suchchangeswould bein conformitywith the
Resulations.
13)InvestorsServices:
[iJ Detailsof investorrelationofficerwho shallattend
complaintsarementionedhereinbelow:
the investor queries and
[ii] Grievanceredressalanddisputesettlementmechanism:
Grievances,if any, that may arise pursuantto the portfolio InvestmentManagement
Agreemententeredinto shall as far as possiblebe redressedthrough the administrative
mechanismby the Portfolio Managerand are subjectto SEBI [Portfolio Managers)
Regulations1993andanyamendmentsmadetheretofrom time to time.However,all the
legalactionsandproceedingsaresubjectto the jurisdictionof courtin Mumbaionlyand
aregovernedby Indianlaws.
The Portfolio Managerwill endeavorto addressall complaintsregarding service
deficienciesor causesfor grievance,for whateverreason,in a reasonablemannerandtime.
If the Investor remainsdissatisfiedwith the remediesoffered or the standtaken by the
PortfolioManager,the investorand the PortfolioManagershallabideby the following
mechanisms:-All disputes,differences,claimsandquestionswhatsoeverarisingbefween
the Clientand the PortfolioManagerand/or their respectiverepresentativesshall be
settledthroughArbitrationprocessas describedin the PortfolioInvestmentManagement
Agreementor anySupplementalAgreementthereto.
CEO& PrincipalOfficer
Date:fp b te.zrrY
Place:Bangalore
ComplianceOfficer
R6Ci-"rr
RIZONlPnrtfolioi4lnageitr
In.,,,,,,,.r., * i,,ri,,e.r,.,r.L,,,Lr
Nameoftheperson: Anil Rego
Designation: Principal0fficer
Address: #6, Ground Floor, Arekere Village,Opp. British Biologicals,
BannerghattaRoad,Barlgalore-560076.
Email: anilrego@rightho
Telephone: +91-080-65687503to 5l,B
RachnaRego,
t]1