The SBI Equity Savings Fund aims to provide regular income and capital appreciation by investing in arbitrage opportunities within the equity market, along with moderate equity exposure. It focuses on tax efficiency and has a flexible allocation across equity, debt, and derivatives, making it suitable for conservative investors seeking risk-adjusted returns. The fund employs a three-pronged strategy that includes cash-future arbitrage and limits equity exposure to manage volatility.

1. 1

2. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Product Labeling
This product is suitable for investors
who are seeking*:
Riskometer
 Regular income and capital appreciation.
 To generate income by investing in
arbitrage opportunities in the cash and
derivatives segment of the equity market,
and capital appreciation through a
moderate exposure in equity.

3. Index
• Predicament of low risk hybrid strategies
• SBI Equity Savings Fund
• The Arbitrage Component
• Tax Efficiency
• Key Features
• Portfolio Holdings
• Why Invest?
• Performance
• About SBI Funds Management Pvt Ltd
• Investment Team

4. Predicament of Low Risk
Hybrid Strategies

5. Difficulty of Low Risk Hybrid Strategies
Equity
(Less than 35%)
Fixed Income
(More than 65%)
Capital Appreciation
High Risk
Regular Income
Low Risk
Problem:
Tax Inefficiency
Low risk Hybrid Strategies -
Two for One Benefits
Taxation: Non Equity Scheme

6. SBI Equity Savings Fund

7. Connecting the Strategies
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Net Long
Equity
Exposure
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Cash-
future
arbitrage
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Debt &
Money
Market
SBIEquitySavingsFund
Bringing Tax Efficiency

8. A 3 Pronged Strategy
Equity
Arbitrage
Debt
- Generates capital appreciation by taking limited equity
exposure
- Stock selection is focused on 3 factors
1. Growth potential relative to peers
2. Valuations
3. Value add i.e., excess RoCE > WaCC
- Generates income by exploiting the arbitrage
opportunities in the market
- Invests into equity stocks in the cash market & takes an
equivalent short position in futures market
- Captures spread between spot & futures market
- Generates regular income by investing in debt & money
market instruments
- Provides liquidity to the fund & also margin for
derivatives
- Maturity profile of debt instruments is based on interest
rate outlook & current market conditions
RoCE = Return on Capital Employed; WaCC = Weighted Average Cost of Capital

9. SBI Equity Savings Fund: PositioningReturns
Risk
Liquid
Funds
Arbitrage
Funds
Debt Funds
Hybrid Debt
Funds
SBI Equity
Savings
Fund
Balanced
Funds
Multi Cap
Equity
Funds
Mid Cap
Equity
Funds

10. How does the Arbitrage Strategy work?
Working of a Cash Future Arbitrage Strategy
Price of Company A in Cash Market - Rs .200.30
Price of Company A in Futures Market - Rs. 203.35
Start Date
On Expiry
Price in Cash &
Futures Market
Rs. 210
Profit in Cash Market:
Rs.9.70
Loss in Future Market:
Rs.6.65
Price in Cash &
Futures Market
Rs. 200.30
Profit /Loss in Cash
Market: Rs.0
Profit in Future Market:
Rs.3.05
Price in Cash &
Futures Market
Rs. 190
Loss in Cash Market:
Rs.10.30
Profit in Future Market:
Rs.13.35
Net Gain
Rs. 3.05
The above is only to explain the concept of cash future arbitrage and should not be construed as any indication
of future returns. The above illustration does not take costs into consideration.
1
2
3

11. How different is this fund from other strategies?
Debt
Hybrid
Funds
Balanced
Funds
Arbitrage
Funds
Equity
Savings
Funds
Type of Scheme Debt Balanced Equity Equity
Typical Equity Allocation Range
(including equity derivatives)
<=35% >=50% >=65% >=65%
Cash – Future Arbitrage
Strategies followed X X  
Volatility Medium High Low Medium
Equity Taxation* No May have Yes Yes
*Please consult your tax advisor for details

12. Tax Efficiency
Non-Equity
Taxation
Equity
Taxation
Amount of Investment 1,00,000 1,00,000
Assumed Pre-tax
annualized return
9% 9%
Gains/Interest Earned
after 1 year
9,000 9,000
Amount at the end of 1
year
1,09,000 1,09,000
Taxable Gains/ Income 9,000 9,000
Applicable Tax Rate 34.61% 0%
Tax Liability 3,115 0
Post Tax Gains/ Income 5,885 9,000
Post Tax Annualised Yield 5.89% 9.00%
*Assuming highest tax bracket. The above table is only to illustrate the tax treatment of different types of funds
and in no way should be construed as any indication of returns. Past performance may or may not be sustained
in future. This calculation is based on prevailing tax laws and is applicable only in case of resident investors.
Please consult your tax advisor for details
Gain required in non-
equity tax product
1,00,000
14%
13,763
1,13,763
13,763
35%
4,763
9,000
9.00%
To
reproduce
similar
gains
Illustration

13. Fund Philosophy & Asset Allocation
• Investment objective is to generate income by investing in arbitrage opportunities in the
cash and derivatives segment of the equity market, and capital appreciation through a
moderate exposure in equity.
• Invests across equity, debt & equity derivatives
• Suitable for conservative investors looking for superior risk adjusted returns over the
medium term
• Indicative Asset Allocation under normal circumstances:
The cumulative gross exposure through Equity and Equity related Instruments including derivatives position, debt, Money Market
Instruments /Units of debt & liquid mutual funds will not exceed 100% of the net assets of the scheme. *Exposure to domestic
securitized debt may be to the extent of 20% of the net assets. The Scheme shall not invest in ADR/ GDR/ Foreign Securities /
foreign securitized debt. The Scheme shall invest in repo in corporate debt. The Scheme shall not engage in Stock lending. The
Scheme shall not engage in short selling.
The scheme shall follow an alternate asset allocation on defensive considerations when there are not adequate arbitrage
opportunities available in the Derivative and Equity markets. Investors are advised to refer to the Scheme Information Document
or Key Information Memorandum for more details.
Instruments
Indicative allocations
(% of total assets) Risk Profile
Minimum Maximum
Equity and Equity related Instruments
including derivatives
Out of which:
65% 90%
Medium to High
- Cash-future arbitrage: 15% 70%
- Net long equity exposure: 20% 50%
Debt* and Money Market Instruments
(including margin for derivatives)
10% 35% Low to Medium

14. Key Features
Plans/ Options
The Scheme has two plans viz. Regular plan & Direct plan.
Both plans would offer Growth & Dividend options. Dividend
option has the facility of Reinvestment, Payout & Transfer
Benchmark 30% Nifty 50 + 70% Crisil Liquid Fund Index
Fund Manager
Mr. Neeraj Kumar (Arbitrage portion) & Mr. Ruchit Mehta
(Equity & Debt)
Load Structure
Entry Load: Not Applicable
Exit Load:
For exit within 1 year from the date of allotment -1%
For exit after 1 year from the date of allotment - Nil
Minimum Application
Amount
Rs. 5,000/- and in multiples of Re. 1 thereafter
Additional Purchase
Amount
Rs. 1,000/- and in multiples of Re. 1 thereafter

15. SBI Equity Savings Fund: Portfolio Holdings
Data as on July 31, 2016
Portfolio classification by Asset Type Top 10 Holdings
Stock Name % of Total AUM
HDFC BANK LTD. 8.65
ADANI PORTS AND SPECIAL ECONOMIC
ZONE LTD.
7.28
HOUSING DEVELOPMENT FINANCE
CORPORATION LTD.
7.02
RELIANCE INDUSTRIES LTD. 6.09
SKS MICROFINANCE LTD. 3.13
HINDUSTAN PETROLEUM CORPORATION
LTD.
2.78
BRITANNIA INDUSTRIES LTD. 2.16
TATA GLOBAL BEVERAGES LTD. 1.93
ITC LTD. 1.73
DISH TV INDIA LTD. 1.66
Stock Name % of Total AUM
Financial Services 26.51
Energy 9.68
Consumer Goods 9.58
Services 7.80
Automobile 5.35
IT 2.79
Media & Entertainment 2.61
Pharma 2.42
Fertilisers & Pesticides 2.03
Cement & Cement Products 1.50
Metals 1.31
Textiles 1.13

16. SBI Equity Savings Fund: Asset Allocation Pattern
Month-end asset allocation
30.33%
25.80%
33.28%
32.99%
32.70%
32.19%
31.27%
30.97%
30.83%
31.54%
31.30%
29.37%
29.28%
25.48%
22.72%
29.10%
31.73%
29.85%
39.96%
27.83%
42.97%
27.27%
20.17%
41.25%
42.07%
33.32%
35.72%
35.92%
35.69%
40.57%
42.47%
36.87%
27.05%
39.47%
24.84%
41.45%
26.13%
27.92%
26.38%
35.39%
34.92%
34.80%
38.83%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Debt & MM MF UNITS Net Long Equity Arbitrage

17. Why Invest?
Lower Volatility
Net long equity exposure in the range of 20 – 50%; Limited directional equity
exposure reduces the volatility compared to equity funds
Potential for capital appreciation
Moderate exposure to equity allows the fund to participate in the long term growth
of equity markets
1
2
Regular Rebalancing
Directional equity exposure in the range of 20%- 50% ensures disciplined
rebalancing; fund manager buys at market lows & sells at market peaks
3
Tax Efficiency
Fund is an equity fund for tax purposes; endeavours to generate superior risk-
adjusted returns compared to hybrid funds*
4
*Investors are advised to consult their Tax/ Financial Advisor before taking decision of Investment.

18. Performance
30-Jun-15 to
30-Jun-16
30-Jun-14 to
30-Jun-15
28-Jun-13 to
30-Jun-14
Since Inception
Absolute
Returns (%)
CAGR Returns
(%)
PTP Returns
(INR)
SBI Equity Savings Fund-Regular-
Growth
7.38 NA NA 7.69 10,846
30% Nifty 50 Index + 70% Crisil Liquid
Fund Index (Scheme Benchmark)
5.47 NA NA 5.62 10,617
S&P BSE Sensex
(Additional Benchmark)
-2.81 NA NA -1.87 9,795
Past performance may or may not be sustained in future. Returns (in %) other than since inception are absolute, calculated for growth
option and in INR are point-to-point (PTP) returns calculated on a standard investment of 10,000/-. Additional benchmark as prescribed by
SEBI for equity schemes is used for comparison purposes. Performance calculated for Regular Plan Growth Option. Since inception NAV is
assumed as 10 Inception Date: 27/05/2015
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
30-Jun-15 to 30-Jun-16 Since Incpetion
SBI Equity Savings Fund - Reg - Growth
30% Nifty 50 + 70% Crisil Liquid Fund
Index
S&P BSE Sensex

19. Performance of other Schemes Managed by Mr. Neeraj Kumar &
Mr. Ruchit Mehta, Fund Managers of SBI Equity Savings Fund
30-Jun-15 to 30-
Jun-16
30-Jun-14 to 30-
Jun-15
28-Jun-13 to 30-
Jun-14
Since Inception
Absolute Returns (%)
CAGR
Returns (%)
PTP Returns
(INR)
SBI Magnum Monthly
Income Plan*
9.97 14.15 7.68 8.16 33,030
Crisil Short Term Bond Fund
Index (Scheme Benchmark)
8.63 11.05 8.28 N.A. N.A.
Crisil 10 Yr Gilt Index
(Additional Benchmark)
10.03 11.76 -2.47 N.A. N.A.
Past performance may or may not be sustained in future. Returns (in %) other than since inception are absolute, calculated for growth option
and in INR are point-to-point (PTP) returns calculated on a standard investment of 10,000/-. Additional benchmark as prescribed by SEBI for long
term debt schemes is used for comparison purposes. Performance calculated for Regular Plan. Since inception NAV is assumed as 10. Inception Date:
09/04/2001
* An open-ended debt scheme, monthly income is not assured and is subject to availability of distributable surplus
Schemes managed by Mr. Ruchit Mehta along with Mr. Dinesh Ahuja jointly

20. 30-Jun-15 to
30-Jun-16
30-Jun-14 to
30-Jun-15
28-Jun-13 to
30-Jun-14
Since Inception
Absolute Returns (%)
CAGR Returns
(%)
PTP Returns
(INR)
SBI Regular Savings Fund 8.44 11.57 11.07 7.75 25,700
Crisil MIP Blended Index
(Scheme Benchmark)
8.63 11.05 8.28 7.91 26,165
Crisil 10 Yr Gilt Index
(Additional Benchmark)
10.03 11.76 -2.47 5.30 19,198
Past performance may or may not be sustained in future. Returns (in %) other than since inception are absolute, calculated for growth option
and in INR are point-to-point (PTP) returns calculated on a standard investment of 10,000/-. Additional benchmark as prescribed by SEBI for long
term debt schemes is used for comparison purposes. Performance calculated for Regular Plan. Since inception NAV is assumed as 10. Inception Date:
12/11/2003
Performance of other Schemes Managed by Mr. Neeraj Kumar &
Mr. Ruchit Mehta, Fund Managers of SBI Equity Savings Fund
30-Jun-15 to
30-Jun-16
30-Jun-14 to
30-Jun-15
28-Jun-13 to
30-Jun-14
Since Inception
Absolute Returns (%)
CAGR Returns
(%)
PTP Returns (INR)
SBI Magnum Monthly Income Plan
Floater*
9.88 13.87 13.31 8.04 22,587
Crisil MIP Blended Index
(Scheme Benchmark)
8.63 11.05 8.28 8.16 22,850
Crisil 1 Yr T-Bill Index
(Additional Benchmark)
7.67 8.54 5.93 6.25 18,937
Past performance may or may not be sustained in future. Returns (in %) other than since inception are absolute, calculated for growth option
and in INR are point-to-point (PTP) returns calculated on a standard investment of 10,000/-. Additional benchmark as prescribed by SEBI for short
term debt schemes is used for comparison purposes. Performance calculated for Regular Plan. Since inception NAV is assumed as 10. Inception Date:
21/12/2005
*An open-ended debt scheme, monthly income is not assured and is subject to availability of distributable surplus.
Schemes managed by Mr. Ruchit Mehta along with Mr. Dinesh Ahuja jointly

21. 30-Jun-15 to
30-Jun-16
30-Jun-14 to
30-Jun-15
28-Jun-13 to
30-Jun-14
Since Inception
Absolute Returns (%)
CAGR Returns
(%)
PTP Returns
(INR)
SBI Arbitrage Opportunities Fund
– Growth
5.80 8.71 9.13 7.71 20,495
Crisil Liquid Fund Index
(Scheme Benchmark)
7.90 8.77 9.68 7.65 20,394
S&P BSE Sensex
(Additional Benchmark)
-2.81 9.31 31.03 7.75 20,562
Past performance may or may not be sustained in future. Returns (in %) other than since inception are absolute, calculated for growth option
and in INR are point-to-point (PTP) returns calculated on a standard investment of 10,000/-. Additional benchmark as prescribed by SEBI for equity
schemes is used for comparison purposes. Performance calculated for Regular Plan. Since inception NAV is assumed as 10. Inception date:
03/11/2006
Performance of other Schemes Managed by Mr. Neeraj Kumar &
Mr. Ruchit Mehta, Fund Managers of SBI Equity Savings Fund
NAV of Schemes for which performance is given
Scheme Name 30/06/2016 30/06/2015 30/06/2014 28/06/2013
SBI Equity Savings Fund - Reg - Growth 10.8463 10.1013 - -
SBI Magnum MIP - Floater - Growth 22.5874 20.5573 18.0526 15.9321
SBI Magnum MIP - Growth 33.1057 30.1051 26.3723 24.4909
SBI Regular Savings Fund - Growth 25.7553 23.7511 21.288 19.1658
Scheme managed by Mr. Neeraj Kumar

22. SBI Funds Management Private Limited
63% 37%
 India’s premier and largest bank with
over 200 years experience (Estd: 1806)
 Asset base of USD 423 bn*
 Pan-India network of ~23,010 branches
and 56,930 ATM’s as at end of
September 2015
 Servicing over 290 million customers
 Global leader in asset management
 Backed by Credit Agricole and Amundi, the
parent company of Amundi Asset Managemnt
listed in Euronext Paris
 More than 2,000 institutional clients and
distributors in 30 countries
 Over 100 million retail clients via its partner
networks
 €985 bn AuM as at end of December 2015
*Source: SBI Analyst Presentation as on end September 2015. USD 1 = INR 65.74
# Source : Amundi website as on end December 2015

23. SBI FM: Strengths Transforms To Experience
Established in 1987: A leading asset manager in India
23
Broad
Investor
Base
AUM
INR 1,19,878
Cr
Wide
Distribution
Network
Experienced
Investment
Team
Extensive
Product
Range
 INR 1,19,878 Crores* AAUM in mutual funds
 Asset management across mutual funds,
segregated managed accounts, domestic
advisory & offshore advisory business
 Multiple asset classes ranging from equities
and debt, money market to ETFs and
structured funds
 Investment team of 34 professionals with
strong track record
 Broad customer base with over 40 lakh folios
of individual, corporate and institutional
investors
* Quarterly average June, 2016

24. • Mr. Navneet Munot
Mr. Navneet Munot joined SBI Funds Management Pvt. Ltd. as Chief Investment Officer in Dec. 2008. Prior to
SBIFM he was the Head of Multi Strategies fund at Morgan Stanley Investment Management before which he
worked as the Chief Investment Officer (Fixed Income and Hybrid Funds) of Birla Sun Life Asset Management
Company Ltd. Navneet has been associated with the financial services business of the Birla group for over 13
years and worked in various areas such as fixed income, equities and foreign exchange. His articles on matters
related to financial markets have widely been published. Navneet holds a Masters in Commerce and is also a
rank holder Chartered Accountant. He is a charter holder of Chartered Financial Analyst Institute, US and
Chartered Alternative Analyst Institute, US. He has also done Financial Risk Management, FRM from Global
Association of Risk Professionals (GARP).
• Mr. Ruchit Mehta
Ruchit joined SBIFM in 2010, Ruchit joins us from HSBC Asset Management where he was an analyst and
assistant portfolio manager for four years. Prior to HSBC, Ruchit was as a sell side analyst with leading broking
firms like ASK Raymond James and Prabhudas Liladhar for two years. Ruchit is a commerce graduate from
Mumbai University and holds masters degree in finance from Lancaster University, UK. He is also a charter
holder of the CFA Institute, USA
• Mr. Neeraj Kumar
Neeraj joined SBIFM in 2006. Prior to joining SBIFM Neeraj was associated with Life Insurance Corporation of
India (LIC) for 10 years. He started his career as an admin officer in finance and accounts department of LIC.
Thereafter he worked as an equity analyst for five years and subsequently as a dealer for three years. Neeraj is
a commerce graduate from Magadh University and chartered accountant from ICAI.
Investment Team

25. Disclaimer
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
This presentation is for information purposes only and is not an offer to sell or a solicitation to buy any mutual fund
units/securities. The views expressed herein are based on the basis of internal data, publicly available information &
other sources believed to be reliable. Any calculations made are approximations meant as guidelines only, which need to
be confirmed before relying on them. These views alone are not sufficient and should not be used for the development
or implementation of an investment strategy. It should not be construed as investment advice to any party. All opinions
and estimates included here constitute our view as of this date and are subject to change without notice. Neither SBI
Funds Management Private Limited, SBI Mutual Fund nor any person connected with it, accepts any liability arising from
the use of this information. The recipient of this material should rely on their investigations and take their own
professional advice