For private circulation only JANUARY 2020 MAKING SENSIBLE ... · NEW YEAR RESOLUTIONS It is the start of a new year, and we all look forward to the new year with renewed hopes, dreams,

JANUARY 2020For private circulation only

HEALTH Quit smoking /drinking Exercise more /start jogging /gym Lose weight /control diet Eat healthier food Sleep and wake up early

SELF-IMPROVEMENT Get organised /follow a routine Learn a new skill /subject Get a certification /degree Get a new, better job Reduce the clutter in life

LIFE & RELATIONSHIPS Spend quality time with family/friends Enjoy /travel /celebrate more Help others succeed /pursue their goals Find love /express more love Strengthen your relationships

MONEY Spending less Saving more Make a budget and follow it Starting a SIP /investment plan Make a financial plan

Cut down on loans Take adequate insurance covers Start a side business /income source Organise all your portfolios and documents Make a Will

Why make resolutions? A new year is an important event. A change in the year is seen as an opportunity to work towards a better self or improve anything we want to. One reason is the motivation of starting from scratch and the beginning of the year offers a fresh start and a clean slate or new blank page. This, when combined with the idea of bettering or improving ourselves, makes for powerful motivation. The fact that we can visualise a journey but with a proper start date and time, gives us the motivation to make up resolutions.

Another reason might be that it is a traditional thing to do. It is said that Julius Caesar started the tradition of making resolutions on January 1st as a way to honour the Roman mythical god Janus, whose two faces allowed him to look back into the past year and forward to the new year. Romans mostly made morality-based resolutions, such as seeking forgiveness from their enemies.

Making a resolution is a good thing. It means that you at least want to improve your life or something about you and there

is a belief that you have the ability to do that. This itself is a good thing. Further, there is also another way of looking at it positively. Only those who make changes successfully starting 1st January is those who had made resolutions. Those who did not even try do not even count. Some research confirms that setting a resolution can get you closer to your goals. One study found that 46% of individuals who made resolutions were successful compared to only 4% who wanted to achieve a certain goal and considered it but didn’t create a resolution.

MAKING SENSIBLENEW YEAR RESOLUTIONSIt is the start of a new year, and we all look forward to the new year with renewed hopes, dreams, and plans. The new year eve is also the time when we solemnly make some promises to ourselves to make positive changes in our lives and kick out the negative things. It is the time when we make New Year Resolutions! We may have a long list of resolutions covering a different aspect of our lives though, normally people tend to make only a maximum of two to three resolutions at a time. A study showed that at least 40-45% of Americans make a new year resolution. As we can see, New Year Resolutions are popular but the real question is how many of us manage to keep them alive even till February? It is a challenge for these resolutions to become habits and last long. Today, we will explore this popular topic of resolutions and decipher some psychology, facts and fictions surrounding the same.

THE MOST POPULAR RESOLUTIONSLet us now explore few of the most common and also meaning resolutions that people make across the world.

OUR

SERV

ICES

INVE

STM

ENT

OPTI

ONS

MUTUAL FUNDSLIFE INSURANCEGENERAL INSURANCETAX SAVING & RBI BONDS

RETIREMENT PLANNINGCHILD EDUCATION PLANNINGINSURANCE PLANNINGTAX PLANNING

FINANCIAL PLANNINGNRI INVESTMENT PLANNINGCHARITABLE TRUST INVESTMENT PLANNING

Email: [email protected] | Website: www.kkcredible.com

Killol Karia

Centre Point, Karansinhji Road,Chamber Of Commerce Building,Rajkot - 360 001, Gujarat.

Mob.: 98240 19123Tel.: 02812223177

The usage: Application of the ratio analysis technique to personal financial offers potential in expanding insight into specific strengths and weaknesses of your personal financial situation. The ratios are presented below with indications of how each ratio might be used to assess liquidity, solvency, or the general financial position of a particular investor/family. The information provides specific directions in helping the client to develop financial goals. A ratio typically expresses a relationship between two or

more data points /information /parts of the financial statement and provides a context in which to evaluate various aspects of the financial situation. You may DIY or take the help of your financial advisor to chalk out the financial goals for yourself based on these ratios.

Key Ratios: 1. Emergency Funds – Liquid assets / monthly expenses: Liquid assets are those assets which can be easily sold/liquidated and quickly converted to

cash without any loss of value. This ratio provides insight into the adequacy of liquid asset holdings to cover monthly expenses if the family experiences a sudden loss of income due to loss of income for any reason. This ratio may be modified to include financial assets which are not in ready liquid form but could be easily redeemed and converted in cash. Financial experts typically suggest at least 3 to 6 months of coverage depending on the situation, assets covered, income stability,

It's never too late to commit ourselves to change for the better! Resolutions can be made any day as it is your promise with you. Also, there is no point in having too many resolutions at one go. One wouldn't want to get overwhelmed by big and too many resolutions. However, making and keeping promises to ourselves a sure shot way to a better life. Start with baby steps if you are not too confident. You may keep the following points in mind when making your resolutions...

• Meaningful and motivating: Chose resolutions related to things which are the most important to you and you believe will make a difference.

• Practical and achievable: Make a resolution which is possible but yet difficult, something which will be a challenge for you. Too easy or too tough and you will likely break it up soon.

• Simple and easy to do: A simple resolution that does not require any extra resources or is not dependent on other external factors or people is most likely to be successful. The main inputs required should ideally be your discipline, self-control, and determination.

Tricks to make your resolutions succeed: A good trick to make resolutions work would be to share it and involve others as well to it. Make yourself accountable and ask someone to keep a track on your progress. This will increase your commitment level too. Another trick would be to break up big resolutions, if any, into small steps. There is no need to rush. One cannot expect to start running 5 km from day one. However, we can reach to that level once we just commit to walk /jog for say 30 minutes each day to start with and then reach to that level in progressive steps divided into weeks and months. Similarly, one cannot expect oneself to immediately start saving say 30% of your income into mutual fund SIPs. However, why wait? You can start with whatever amount you can do today and then think of reaching that goal in the next few months. Another small trick is to reward yourself and celebrate, share your achievements so that becomes an incentive for you and you enjoy achieving your goals.

Conclusion: If you haven't made any resolution, there is still time. We would encourage you to choose your date and commit yourself

to better things. Choose the most practical and possible resolutions to start with. The money resolutions –

especially having insurance, writing a will and having a financial plan, are very

easy yet very critical according to us and can be implemented without any

behavioural change. But you are free to pick up any resolution you like as long

as they would add real value to your life.

Wish you all the best.Have a very happy, healthy and

successful Year 2020!

EMERGENCY FUNDSLIQUID ASSETS / MONTHLY EXPENSES

DEBT EXPOSUREASSETS /TOTAL DEBT

DEBT SERVICING RATIOMONTHLY DEBT LIABILITIES / NET INCOME

LIQUIDITY OF PORTFOLIOLIQUID ASSETS / NET WORTH

SAVINGS RATIOSAVINGS / NET INCOME

1

2

3

4

5

FIVE PERSONALFINANCE RATIOS

FOR PERSONAL USEAs families seek to improve their financial situation and develop plans for the future, a logical first step is to determine their present financial position. A common tool used to determine same is the net worth statement which is a personal balance sheet listing the assets and liabilities of the household, with total net worth being the difference between the two. However, there is a lot we can know about our portfolio than just this measure. We would encourage investors to do regular assessments of their financial situation to understand the same and to also chalk out a plan for progress /improvement. In this issue, we will talk about the wealth of information which can be gleaned from a personal financial statement than just the bottom line.

the number of dependents, and so on. The higher the ratio, the better it is for families but too high means that you are not putting money in growth assets.

2. Debt Exposure – Assets /total debt: This ratio examines the relationship between assets and the total debt obligation of the family. Please note that which assets to be included here is of primary concern. If you only include disposable assets, the ratio will indicate how easily you could close off and repay all your debt. However, you could also include all your redeemable financial assets in addition to liquid assets. In such a case, it would show a different picture of your debt ratio. Together these ratios help in determining whether the family has overextended itself or has maintained a debt level within reasonable limits given the family's level of assets. Experts suggest that a ratio of say at least 50% (assets as % of the debt) and above to be a comfortable position when only disposable assets are considered. When total financial assets are considered, then 150% may be considered a minimum level to indicate a healthy financial situation. If you are only considering long-term asset creating debt like home loans, then again the ratio of 100% should be acceptable.

3. Debt servicing ratio – Monthly debt

liabilities / Net income: The debt servicing ratio measures how easily you can service your debt. In other words, it is the ratio of your EMI to the net income. You must never let the total debt obligation cross 40% of your net income. The less it is the better. The idea is that the rest of the 60% has to be adequately saved for consumption and savings. However, this ratio for most individuals living in urban areas may touch dangerous levels of even over 80%. Increase in EMIs compromises your lifestyle and your ability to secure a better future through savings. One should aim to move from a situation of high debt and low savings to a situation of no debt and high savings as your age/income increases.

4. Liquidity of Portfolio – Liquid Assets / Net Worth: This measures the proportion of total net worth held in liquid form. This type of net worth component ratio should be evaluated after considering the family's financial goals rather than as an objective standard. If the majority of the goals are of short term or near to maturity, then the proportion of liquid assets should be higher. However, if you are having long term goals not anywhere near to maturity, your assets should be held largely in non-liquid assets like say equities. The reason being that such assets will provide better returns than liquid

assets. Thus, it is up to the financial advisor /family to ascertain the right/optimum portion of liquid assets in your net worth. One can further modify this ratio to also include all financial assets in addition to liquid assets as part of the total net worth. This ratio would indicate if you are investing too much in non-liquid and financial assets like gold, property, etc. One may think of ensuring a good balance between financial and non-financial assets with more bias to the former.

5. Savings Ratio – Savings / Net income: This ratio is used to show you how much money you are saving over a specified period. It is strongly advised to have a savings rate of at least 10% to 20% of your net income. The higher the number, the better it should be. In times when you do not have any debt EMIs or other expenses, one should be shrewd enough to let this ratio grow as much at possible. The equation should be calculated as income (-) savings = expenses whenever you are planning your monthly budget. Making the most of your available cash-flow and directing it towards savings is very essential as times may change in future when savings may not be that easy.

Conclusion: While there may be many more ratios for understanding personal finance, the above ratios are the key ones that help you understand your portfolio construction, your security and your savings behaviour better. Do not just stop at looking at net worth or the current value of your investments. Go beyond, take some time out, at least a couple of hours every month to calculate and track the trend of your personal finance ratio. Believe us, it will do wonders to your knowledge and your financial situation.

1. With the GDP growth figures being at six-year lows, do you feel that more rate cuts? Assuming a rate cut happens

in December, do you feel more cuts can be expected in future?

Answer: In a surprise move, RBI kept policy rates unchanged after having cut consecutively since February 2019.

Importantly, all six members voted for a pause in contrast to both market expectations and previous three meetings, where

all the members had voted for cut. However, MPC kept alive hopes for further cuts, recognizing monetary policy space for

future action and continue with accommodative stance as long as it is necessary to revive growth but while ensuring that

inflation remains below target.

In a situation when growth slowdown looks more entrenched and underlying core inflation has slumped to sub-3.5% amid

widening output gap, it would be premature to call it the end of rate easing cycle. However, the emphatic 6-0 vote for status

quo despite the sharp growth slowdown suggest consensus in the MPC regarding the primacy of headline inflation as its

mandate. Given the sharply rising food inflation, February policy should be a status quo given our expectation of higher

inflation in December (last reading before next policy) and possibility of fiscal slippage in the Union Budget.

2. With the rate cuts not getting transmitted to the borrowers, what more do you feel the government should do to

boost investments?

Answer: Monetary policy transmission had been low but is improving in money and corporate bond markets and partial in

G-sec markets. However, in credit market transmission remains delayed. Transmission in bank lending rates have been

muted especially in outstanding lending rates. We believe that balance sheet stress faced by financial and corporate

sectors is a key reason for the slowdown in investment. In our view, government is aware of the issue and is working to

resolve the stress. Government would also need to continue crowding in investments by continued focus on public

investments, particularly in infrastructure sector.

4. What are the current challenges faced by the debt markets? What policy changes would you suggest to overcome

them?

Answer: Liquidity in corporate bond markets is a challenge. Our recommendations to improve liquidity, some of it already

already work in progress are:- 1) Create a centralised counterparty for corporate bond repo. 2) Make highly rate corporate

bonds eligible for RBI repo, 3) Electronic trading platform which is a work in progress would also help in improving liquidity.

Moreover we believe that banks should be incentivised to convert their loans into securitised assets.

Another suggestion would be creation of a credit registry which would help in improving transparency and price discovery.

Improving tax treatment of bonds would also help in incentivising debt markets for investors.

5. Can you share some insights on the recent investment trends of foreign investors /FIIs in debt markets?

Answer: Foreign flows into Indian Debt capital market remain subdued during CY2019 despite the various efforts made by

the Govt and RBI to ease access of Indian debt markets by foreign investors. In addition to the General Route via set limits,

in May 2019 RBI announced Rs 54,606.55 cr limit under Voluntary Retention Route (VRR) to attract patient capital with a

retention period of 3 years. However only 63% of the VRR limit has been utilized while the utilization of limit for Corporate

bonds under General route remains at 60% and that for Govt. securities is as low as 50%. During the beginning of the year,

the general election results remained a concern. Despite RBI’s efforts of reinstating system liquidity and delivering 135bps

policy rate cut during the year, global uncertainty driven by US-China trade dispute, concern on fiscal health of government

along with liquidity and solvency concerns around certain NBFC has kept the foreign investor in wait and watch mode.

6. What you be your advice to investors looking for medium to long term horizon in debt funds?

Answer: Given the uncertainty in both duration and credit, short end AAA bond continue to be the place to be as they

provide reasonable accrual without credit risk and manageable duration risk. Investor with medium to longer horizon can

consider Corporate Bond Fund and Banking & PSU Fund categories.

Disclaimer: The views expressed above are author’s own views and not necessarily those of the AMC. The views expressed are based on internal data, publicly available information and other sources believed to be reliable. Any calculations made are approximations, meant as guidelines only, which you must confirm before relying on them. The information contained in this document is for general purposes only. The document is given in summary form and does not purport to be complete. The document does not have regard to specific investment objectives, financial situation or particular needs of any specific person who may receive this document. The information/ data herein alone is not sufficient and should not be used for the development or implementation of an investment strategy. The statements contained herein are based on our current views and involve known and unknown risks and uncertainties that could cause results, performance or events to differ materially from those expressed or implied in such statements. Past performance may or may not be sustained in future. Neither the AMC, the fund nor any person connected with them, accepts any liability arising from the use of this document. The AMC is not guaranteeing/offering/communicating any guaranteed returns on investments made in the scheme(s). The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible / liable for any decision taken on the basis of information contained herein.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY

FUND MANAGER INTERVIEWS

Mr. Maneesh Dangi

Co-Chief Investment Officer - Aditya Birla Sun Life AMC Ltd.As Co-Chief Investment Officer, Maneesh Dangi spearheads Fixed Income investments at Aditya Birla Sun Life AMC Limited. With close to twenty years of rich experience in Finance and Research, Maneesh leads a team of twenty-two, comprising fund managers and analysts, managing over INR 1.6 lakh crores.

Maneesh has been with Aditya Birla Sun Life AMC for over a decade now. He manages funds such as ABSL Banking & PSU Debt Fund, ABSL Corporate Bond Fund, ABSL Credit Risk Fund, ABSL Medium Term Plan, ABSL Short Term Opportunities Fund, and ABSL Dynamic Bond Fund.

Maneesh is an MBA in Finance and FRM.

MF NEWS

Aditya Birla Sun Life Dividend Yield Fund - GrAditya Birla Sun Life Equity Advantage Fund - GrAditya Birla Sun Life Equity Fund - GrAditya Birla Sun Life Focused Equity Fund - GrAditya Birla Sun Life Frontline Equity Fund - GrAditya Birla Sun Life Midcap Fund - GrAditya Birla Sun Life Pure Value Fund - GrAditya Birla Sun Life Small Cap Fund - GrAxis Bluechip Fund - GrAxis Focused 25 Fund - GrAxis MidCap Fund - GrAxis Multicap Fund - GrAxis Small Cap Fund - GrBaroda Large Cap Fund - GrBaroda Mid-cap Fund - GrBaroda Multi Cap Fund - Growth PlanBNP Paribas Large Cap Fund - GrBNP Paribas Midcap Fund - GrBNP Paribas Multi Cap Fund - GrBOI AXA Large & Mid Cap Equity Fund - Reg GrCanara Robeco Bluechip Equity Fund - GrCanara Robeco Emerging Equities Fund - GrCanara Robeco Equity Diversified Fund - GrDSP Equity Fund - Reg. Plan - DivDSP Equity Opportunities Fund - GrDSP Focus Fund - GrDSP Midcap Fund - Reg GrDSP Small Cap Fund - GrDSP Top 100 Equity Fund GrEdelweiss Large & Mid Cap Fund - Regular GrEdelweiss Large Cap Fund - GrEdelweiss Mid Cap Fund - Regular GrEdelweiss Multi-Cap Fund - GrEssel Large Cap Equity Fund - GrFranklin India Bluechip Fund GrFranklin India Equity Advantage Fund - GrFranklin India Equity Fund - GrFranklin India Focused Equity Fund - GrFranklin India Prima Fund GrFranklin India Smaller Companies Fund - GrHDFC Capital Builder Value Fund - GrHDFC Equity Fund - GrHDFC Focused 30 Fund - GrHDFC Growth Opportunities Fund - GrHDFC Mid Cap Opportunities Fund - GrHDFC Small Cap Fund - GrHDFC Top 100 Fund - DivHSBC Large Cap Equity Fund - GrHSBC Multi Cap Equity Fund - GrHSBC Small Cap Equity Fund - GrICICI Prudential Bluechip Fund - GrICICI Prudential Dividend Yield Equity Fund - GrICICI Prudential Focused Equity Fund - Retail GrICICI Prudential Large & Mid Cap Fund - GrICICI Prudential MidCap Fund - GrICICI Prudential Multicap Fund - GrICICI Prudential Smallcap Fund - GrICICI Prudential Value Discovery Fund GrIDBI Diversified Equity Fund - GrIDBI India Top 100 Equity Fund - GrIDFC Core Equity Fund - Regular Plan - GrIDFC Focused Equity Fund - Regular Plan - GrIDFC Large Cap Fund - Regular Plan - GrIDFC Multi Cap Fund - Regular Plan - GrIDFC Sterling Value Fund - Regular GrIIFL Focused Equity Fund - GrIndiabulls Blue Chip Fund - GrInvesco India Contra Fund - GrInvesco India Growth Opportunities Fund - GrInvesco India Largecap Fund - GrInvesco India Midcap Fund - GrInvesco India Multicap Fund - GrJM Core 11 Fund - Series 1 - Growth OptionJM Large Cap Fund - Growth OptionJM Multicap Fund - Growth OptionJM Value Fund - Growth OptionKotak Bluechip Fund - GrKotak Emerging Equity Fund - GrKotak Equity Opportunities Fund - GrKotak India EQ Contra Fund - GrKotak Smallcap Fund - GrKotak Standard Multicap Fund - GrL&T Emerging Businesses Fund - GrL&T Equity Fund - GrL&T India Large Cap Fund - GrL&T India Value Fund - GrL&T Large and Midcap Fund - GrL&T Midcap Fund - GrLIC MF Large & Mid Cap Fund - GrLIC MF Large Cap Fund - Gr

11.5015.1815.6815.6012.282.12-5.97-6.8621.8922.6319.4621.1426.1214.582.64

10.3219.9613.6018.9116.1820.4913.3014.8620.0717.0326.5816.284.88

22.5815.6415.0210.1411.1114.559.437.006.87

11.747.51-2.693.868.047.41

11.845.61-8.897.83

17.9611.22-9.0714.460.260.14

11.105.91

10.1813.662.86

15.5418.1510.6816.0113.3912.65-0.6129.1216.7911.3416.2812.8213.2012.0411.946.61

22.4215.5919.5916.1118.4913.5612.5315.26-1.989.33

15.959.30

13.138.54

20.3522.13

0.204.026.977.866.42-2.82-8.86-9.1915.8312.8412.67

NA12.487.40-1.093.89

11.002.417.293.55

12.356.14

10.319.777.51

10.835.71-4.149.748.699.762.667.496.944.433.123.497.042.93-4.742.616.541.655.690.71-2.476.689.333.46-9.568.73-1.901.614.611.186.501.671.406.197.244.294.927.504.92-2.6214.489.477.469.937.996.003.267.214.83

10.365.989.995.468.869.931.339.46-3.494.308.952.463.541.209.09

11.34

3.017.3910.079.178.302.84-0.340.0014.3114.0412.24

NA12.517.862.105.9510.245.608.935.7511.9410.3610.8410.8010.2610.429.442.429.599.6310.196.67NA

8.756.315.396.058.736.962.116.969.025.156.966.085.799.0810.426.44-1.6510.303.884.737.385.598.804.694.156.927.557.918.248.816.584.2313.7010.5110.5611.328.948.556.5110.905.7112.059.889.979.0810.6011.325.7411.506.316.809.087.306.817.54NA

10.21

6.3112.1113.7311.6810.919.398.197.9814.4615.0515.62

NANA

9.673.108.6312.2111.4011.898.0312.4517.3311.8812.9413.1612.7014.8012.5210.6011.7111.7313.21

NA10.258.749.4110.2413.4413.0210.6710.7411.348.597.7412.4410.6210.8811.2610.077.1912.03

NA7.359.5812.1311.928.269.81NA

9.879.969.449.4810.889.15NA

11.3314.5613.4811.0313.7712.0613.278.0114.2513.0611.7115.3313.2512.4011.6714.60

NA9.9010.9013.3110.2214.45

NA11.31

7.5312.6713.9112.5811.9510.9211.2910.3614.05

NANANANANANA

8.8312.9014.1012.728.61NA

18.2811.9212.4713.20

NA15.1014.6810.4811.7812.1615.08

NANA

9.5510.8211.7014.7715.0014.2511.8211.608.768.0714.6311.7911.1010.6711.088.7012.58

NA8.6710.7413.1512.4610.1112.31

NANA

10.189.139.6312.7110.97

NANA

14.4613.4911.2915.1814.3412.038.2712.9611.8011.6515.7513.2112.2812.8814.83

NA10.6711.0514.6411.5315.30

NA10.93

10.4912.1513.79

NA13.6412.79

NANANANANANANANANA

10.1012.48

NANANANANA

13.2313.8613.58

NANANA

12.11NANANANANA

11.45NA

13.26NA

14.81NA

13.0913.6410.348.51NANA

13.1410.7311.21

NANANANA

11.8012.7912.76

NA14.93

NANANANANANANANANANANANANANANA

7.39NA

8.4812.09

NA13.66

NANANANANANANANA

15.15NA

10.21

SIP RETURN AS ON 31ST DECEMBER 2019

Starting - January Month of

Years

Invested Amount :

Schemes (Diversified Equity) Returns % - CAGR

2019

1

1,20,000

2017

3

3,60,000

2015

5

6,00,000

2013

7

8,40,000

2010

10

12,00,000

2005

15

18,00,000

Mutual funds add ` 3.15 lakh crore to asset base in 2019

Mutual funds have added a whopping ` 3.15 lakh crore to their asset base in 2019 on the back of robust in�ows in debt schemes and measures taken by regulator SEBI for boosting investor con�dence. The asset under management (AUM) of the industry rose by over 13 per cent (`3.15 lakh crore) to ` 26.77 lakh crore at the end of last month, up from ` 23.62 lakh crore at the end of December 2018, as per the latest data available with the Association of Mutual Funds in India (AMFI). The AUM growth seen by the 44-member mutual fund industry in 2019 is signi�cantly higher than 7.5% witnessed in 2018. Industry experts said the double-digit growth is a positive sign given the negative sentiment about equity and �xed income securities. This growth should be primarily credited to in�ows in debt-oriented schemes, steps taken by SEBI that boosted investor con�dence, and to distributors for helping take the message of "mutual fund sahi hai" to every nook and corner of the country.

Debt funds of UTI and Nippon India receive due from Altico Capital

Debt schemes of UTI MF and Nippon India MF received a portion of their due from Altico Capital India, a lender focused on the real estate sector. Certain UTI MF schemes received an aggregate amount of ̀ 20.50 crores from Altico Capital India and such schemes accounted for their respective portion of such amount, UTI MF said in a press release. In a note sent to distributors, Nippon India MF said that they have received 6.06% of the total exposure to Altico Capital India on December 30. Nippon India Ultra Short Duration Fund, which had exposure to Altico Capital India enabled side pocketing on September 25 after Altico Capital was downgraded below investment grade by rating agencies.

SIP RETURN AS ON 31ST DECEMBER 2019

19.1420.8516.3724.9918.5012.7011.1312.0311.367.554.10

10.4413.7014.9114.2516.1611.669.26

14.6219.099.52

15.140.76

20.4311.8418.543.69

12.9911.8917.077.53

17.26-2.3310.4517.9213.6010.6710.5712.727.505.182.86

15.6411.626.716.37

18.4714.939.14

16.1412.0929.12-9.07140

10.0021.677.97

17.7722.4612.3417.9812.318.766.06

13.0113.7218.035.44

15.1319.0316.1811.5320.8719.2422.3212.097.176.258.14

14.9211.6214.5217.4413.8522.465.4429

18.3116.1213.31

8.7611.5810.8310.715.115.354.104.908.175.93-0.855.532.5410.396.028.660.275.734.879.694.207.85-1.5912.686.8511.16-2.237.674.8710.02-0.6011.52-8.624.059.498.114.923.165.352.332.56-0.968.00-0.961.954.8010.698.790.118.045.4015.83-9.56139

5.0113.001.088.707.508.939.115.484.941.764.708.117.222.588.6510.128.983.8810.9312.008.19-0.393.132.671.718.047.386.937.396.5213.00-0.39

2913.7811.707.99

7.6014.8912.6110.926.579.537.407.829.977.226.928.024.7511.47

NA9.053.019.519.4610.198.659.052.3512.958.7710.691.8710.0610.7811.844.7011.70-1.859.229.718.727.417.335.814.596.344.077.892.014.797.2410.609.263.798.237.9614.89-1.85136

8.2312.634.128.719.369.5711.027.116.875.547.689.038.027.0310.1611.6110.297.9310.87

NA12.083.107.894.955.4610.459.796.698.498.4412.633.1028

13.0611.829.99

8.5320.5515.16

NANANA

13.2111.5312.6210.3315.8311.348.46NANA

10.97NA

11.3015.2811.7311.9912.046.0515.1612.3812.179.4813.7919.0714.1311.6111.987.5113.7212.1810.2813.3112.257.797.108.867.778.80NA

7.808.9512.4011.0311.209.49

11.5020.553.10125

12.6316.117.3911.6211.6511.2613.9810.0110.748.8010.7111.91

NA10.9913.4313.9912.9711.1012.65

NANA

8.7911.448.518.8413.7111.378.3610.5211.3616.117.3926

12.8512.0911.61

8.56NA

15.37NANANA

14.0211.6512.9611.84

NA11.608.92NANA

10.99NA

11.0616.2711.6112.8112.927.0815.9112.9312.1312.6813.7819.7613.0613.3610.949.7413.7712.5210.6414.4713.167.908.129.938.75NANA

8.979.1012.8311.1613.5110.2912.1819.767.08113

13.1817.188.3312.8011.5811.5714.2811.0412.119.7511.7012.75

NA12.4213.9913.1812.4211.6812.21

NANA

11.0512.519.949.6614.0011.01

NA10.7112.1317.188.3325

12.2611.6911.48

8.46NANANANANANA

13.02NANANANA

10.13NANA

11.41NA

10.91NANA

11.35NA

8.6816.0213.5612.98

NANANANA

15.2311.04

NA14.6812.5711.8214.0611.047.879.58NA

10.88NANANANANANANANA

12.2016.027.3951

13.01NA

8.56NANA

13.60NANA

13.3411.53

NA13.56

NANANANANANA

10.61NANANA

11.5411.1010.6913.3711.79

NANA

11.9913.608.5612NA

11.9411.68

Starting - January Month of

Years

Invested Amount :

Schemes (Diversified Equity) Returns % - CAGRLIC MF Multi Cap Fund - GrMirae Asset Emerging Bluechip Fund - GrMirae Asset Large Cap Fund - GrMotilal Oswal Focused 25 Fund - GrMotilal Oswal Midcap 30 Fund - GrMotilal Oswal Multicap 35 Fund - GrNippon India Focused Equity Fund - GrNippon India Growth Fund - GrNippon India Large Cap Fund - GrNippon India Multi Cap Fund - GrNippon India Small Cap Fund - GrNippon India Value Fund - GrNippon India Vision Fund GrParag Parikh Long Term Equity Fund - Reg GrPGIM India Diversified Equity Fund - GrPGIM India Large Cap Fund - GrPGIM India Midcap Opportunities Fund - GrPrincipal Dividend Yield Fund - GrPrincipal Emerging Bluechip Fund - GrPrincipal Focused Multicap Fund - GrPrincipal Multi Cap Growth Fund - GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Focused Equity Fund - Regular Plan - GrSBI Large & Midcap Fund - DivSBI Magnum Equity ESG Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Small Cap Fund - GrSundaram Large & Midcap Fund - GrSundaram Mid Cap Fund - GrSundaram Select Focus - GrSundaram Small Cap Fund - GrTata Equity P/E Fund GrTata Large & Mid Cap Fund - Regular Plan - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Discovery (Midcap) Fund - GrTaurus Largecap Equity Fund - GrTaurus Starshare (Multi Cap) Fund - GrTempleton India Equity Income Fund - GrTempleton India Value Fund - GrUnion Multi Cap Fund - GrUnion Small Cap Fund - GrUTI Core Equity Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - GrUTI Master Share - GrUTI Mid Cap Fund - GrUTI Value Opportunities Fund - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseELSS / Tax Savings SchemesAditya Birla Sun Life Tax Relief 96 Fund - DivAxis Long Term Equity Fund - GrBaroda Elss 96 - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDSP Tax Saver Fund - GrEdelweiss Long Term Equity Fund (Tax Savings) - GrFranklin India Taxshield GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDBI Equity Advantage Fund - GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMirae Asset Tax Saver Fund - GrMotilal Oswal Long Term Equity Fund - GrNippon India Tax Saver Fund - GrPrincipal Tax Savings FundSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUnion Long Term Equity Fund - GrUTI Long Term Equity Fund (Tax Saving) - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseS&P BSE SENSEX TRINIFTY 50 TRINIFTY 500 TRI

2019

1

1,20,000

2017

3

3,60,000

2015

5

6,00,000

2013

7

8,40,000

2010

10

12,00,000

2005

15

18,00,000

1,26,9801,29,1661,29,4581,29,4091,27,4431,21,3041,16,2721,15,7111,33,0911,33,5211,31,6791,32,6581,35,5291,28,8121,21,6271,26,2721,31,9691,28,2311,31,3521,29,7531,32,2791,28,0491,28,9771,32,0311,30,2521,35,7971,29,8111,22,9901,33,4911,29,4351,29,0721,26,1661,26,7481,28,7901,25,7381,24,2761,24,2011,27,1201,24,5861,18,3331,22,3731,24,9031,24,5261,27,1841,23,4351,14,4281,24,7811,30,7971,26,8111,14,3081,28,7391,20,1601,20,0861,26,7401,23,6201,26,1921,28,2631,21,7591,29,3791,30,9121,26,4891,29,6531,28,1051,27,6641,19,6251,37,2481,30,1111,26,8861,29,8111,27,7681,27,9921,27,2991,27,2401,24,0421,33,3991,29,4041,31,7541,29,7111,31,1071,28,2071,27,5931,29,2121,18,7751,25,6831,29,6161,25,6601,27,9521,25,2061,32,1951,33,2321,31,4911,32,4851,29,864

17,65,14623,14,68324,73,07223,03,67422,28,68921,09,56621,51,44520,48,97824,91,554

NANANANANANA

18,89,50023,43,77024,98,30723,21,89518,67,864

NA31,24,76522,24,63622,90,35123,82,123

NA26,36,10625,76,57220,61,32122,07,95122,52,97626,32,075

NANA

19,63,14120,98,97221,98,92525,89,00526,21,81725,17,94622,12,55821,87,84118,83,22618,16,01825,69,59622,09,80221,30,18820,81,91721,27,54818,77,47623,04,258

NA18,74,42620,90,44523,75,28122,89,83920,21,67222,71,832

NANA

20,29,68319,19,52919,70,69323,19,71421,15,344

NANA

25,46,33124,18,59421,51,69726,46,41325,30,69422,38,15018,35,34323,51,76422,10,71421,93,56227,29,43023,83,12922,67,89723,40,98025,97,636

NA20,82,05321,24,77625,71,07821,79,84126,63,255

NA21,10,73918,62,994

NA26,73,784

3,61,0823,82,3903,99,3984,04,5703,96,1583,44,8253,13,8093,12,1704,53,4034,34,6814,33,648

NA4,32,4214,01,9153,54,0643,81,6224,23,3793,73,2964,01,2283,79,6934,31,6483,94,5644,19,2344,15,9544,02,5184,22,3403,92,0793,37,9044,15,7844,09,5174,15,8863,74,7214,02,4003,99,1783,84,7303,77,2753,79,3703,99,7933,76,2343,34,7363,74,4003,96,8363,69,0913,91,9233,63,8603,46,6803,97,6784,13,3013,79,1933,10,3164,09,7593,49,7263,68,8303,85,7263,66,4933,96,6163,69,1673,67,7123,94,8404,00,9603,83,9043,87,5074,02,4943,87,5163,45,8764,44,8774,14,1624,02,2274,16,9354,05,3763,93,7083,78,0624,00,7953,86,9664,19,5443,93,6334,17,2563,90,6154,10,4974,16,9213,67,3044,14,0933,41,3033,83,9554,11,0313,73,5693,79,6333,66,6104,11,9194,25,4604,09,9004,26,8984,22,341

6,47,0877,21,6337,71,0717,54,2717,38,1946,44,2575,94,8885,99,9278,55,7228,50,1018,13,492

NA8,18,7797,30,0626,32,5046,96,2797,74,4076,90,3687,49,6826,92,9088,07,4537,76,6707,85,8377,85,1047,74,8257,77,8607,59,2346,37,5977,62,0747,62,9177,73,3497,08,915

NA7,46,3827,02,5916,86,5976,98,1217,46,0147,14,1036,32,5927,13,9857,51,3536,82,5947,14,0186,98,5276,93,5307,52,4667,77,9287,04,7985,75,5837,75,6216,61,3146,75,4777,21,5126,90,0987,47,4016,74,8846,65,7947,13,2337,24,6297,31,0277,37,0547,47,4447,07,3296,67,0238,43,0277,79,5047,80,6017,95,3077,49,8627,42,7627,06,0477,87,0846,92,1338,09,6417,67,6367,69,2947,52,4967,81,2447,95,3046,92,6467,98,6997,02,5127,11,2487,52,5967,20,0737,11,4017,24,333

NA7,73,8197,25,4558,67,9268,20,789

10,49,63512,89,45513,65,55112,69,78712,35,80011,70,77811,21,90011,13,66914,01,34414,31,42114,60,439

NANA

11,82,5219,37,05611,39,49212,94,19512,57,35212,79,36711,15,74813,05,05315,51,53912,78,82413,27,78913,38,13213,16,81514,18,40113,08,26512,22,09712,71,02912,72,25213,40,524

NA12,07,17711,44,14411,71,73412,06,76713,51,59313,31,50612,24,98612,28,36512,54,79611,38,18011,04,06913,04,51012,22,98112,34,27412,50,87011,99,39210,82,82312,85,785

NA10,89,08011,78,83712,90,21112,80,86211,24,78211,88,374

NA11,90,95011,94,69811,72,83411,74,68012,34,24311,60,745

NA12,54,33114,06,76313,53,61312,41,03513,67,80112,87,31513,43,70511,14,64913,91,37713,33,71712,71,38714,45,67413,42,51713,02,63412,69,39014,08,417

NA11,92,06712,35,20813,45,40212,05,66014,01,160

NA12,53,49311,35,57117,39,10014,36,578

41,75,20848,09,74155,36,398

NA54,64,08250,81,138

NANANANANANANANANA

40,40,56049,46,899

NANANANANA

52,75,49655,70,30354,36,126

NANANA

47,93,077NANANANANA

45,31,043NA

52,88,669NA

60,46,475NA

52,10,84154,63,39041,23,06535,38,540

NANA

52,33,69742,63,67844,38,153

NANANANA

46,66,04550,81,46650,64,379

NA61,06,314

NANANANANANANANANANANANANANANA

32,26,810NA

35,30,89647,83,376

NA54,73,523

NANANANANANANANA

62,26,208NA

40,80,41235,24,229

NANA

Starting - January Month of

Years

Invested Amount :

Schemes (Diversified Equity) Investment Value e

SIP VALUE AS ON 31ST DECEMBER 2019

Aditya Birla Sun Life Dividend Yield Fund - GrAditya Birla Sun Life Equity Advantage Fund - GrAditya Birla Sun Life Equity Fund - GrAditya Birla Sun Life Focused Equity Fund - GrAditya Birla Sun Life Frontline Equity Fund - GrAditya Birla Sun Life Midcap Fund - GrAditya Birla Sun Life Pure Value Fund - GrAditya Birla Sun Life Small Cap Fund - GrAxis Bluechip Fund - GrAxis Focused 25 Fund - GrAxis MidCap Fund - GrAxis Multicap Fund - GrAxis Small Cap Fund - GrBaroda Large Cap Fund - GrBaroda Mid-cap Fund - GrBaroda Multi Cap Fund - Growth PlanBNP Paribas Large Cap Fund - GrBNP Paribas Midcap Fund - GrBNP Paribas Multi Cap Fund - GrBOI AXA Large & Mid Cap Equity Fund - Reg GrCanara Robeco Bluechip Equity Fund - GrCanara Robeco Emerging Equities Fund - GrCanara Robeco Equity Diversified Fund - GrDSP Equity Fund - Reg. Plan - DivDSP Equity Opportunities Fund - GrDSP Focus Fund - GrDSP Midcap Fund - Reg GrDSP Small Cap Fund - GrDSP Top 100 Equity Fund GrEdelweiss Large & Mid Cap Fund - Regular GrEdelweiss Large Cap Fund - GrEdelweiss Mid Cap Fund - Regular GrEdelweiss Multi-Cap Fund - GrEssel Large Cap Equity Fund - GrFranklin India Bluechip Fund GrFranklin India Equity Advantage Fund - GrFranklin India Equity Fund - GrFranklin India Focused Equity Fund - GrFranklin India Prima Fund GrFranklin India Smaller Companies Fund - GrHDFC Capital Builder Value Fund - GrHDFC Equity Fund - GrHDFC Focused 30 Fund - GrHDFC Growth Opportunities Fund - GrHDFC Mid Cap Opportunities Fund - GrHDFC Small Cap Fund - GrHDFC Top 100 Fund - DivHSBC Large Cap Equity Fund - GrHSBC Multi Cap Equity Fund - GrHSBC Small Cap Equity Fund - GrICICI Prudential Bluechip Fund - GrICICI Prudential Dividend Yield Equity Fund - GrICICI Prudential Focused Equity Fund - Retail GrICICI Prudential Large & Mid Cap Fund - GrICICI Prudential MidCap Fund - GrICICI Prudential Multicap Fund - GrICICI Prudential Smallcap Fund - GrICICI Prudential Value Discovery Fund GrIDBI Diversified Equity Fund - GrIDBI India Top 100 Equity Fund - GrIDFC Core Equity Fund - Regular Plan - GrIDFC Focused Equity Fund - Regular Plan - GrIDFC Large Cap Fund - Regular Plan - GrIDFC Multi Cap Fund - Regular Plan - GrIDFC Sterling Value Fund - Regular GrIIFL Focused Equity Fund - GrIndiabulls Blue Chip Fund - GrInvesco India Contra Fund - GrInvesco India Growth Opportunities Fund - GrInvesco India Largecap Fund - GrInvesco India Midcap Fund - GrInvesco India Multicap Fund - GrJM Core 11 Fund - Series 1 - Growth OptionJM Large Cap Fund - Growth OptionJM Multicap Fund - Growth OptionJM Value Fund - Growth OptionKotak Bluechip Fund - GrKotak Emerging Equity Fund - GrKotak Equity Opportunities Fund - GrKotak India EQ Contra Fund - GrKotak Smallcap Fund - GrKotak Standard Multicap Fund - GrL&T Emerging Businesses Fund - GrL&T Equity Fund - GrL&T India Large Cap Fund - GrL&T India Value Fund - GrL&T Large and Midcap Fund - GrL&T Midcap Fund - GrLIC MF Large & Mid Cap Fund - GrLIC MF Large Cap Fund - GrLIC MF Multi Cap Fund - GrMirae Asset Emerging Bluechip Fund - GrMirae Asset Large Cap Fund - Gr

2019

1

1,20,000

2017

3

3,60,000

2015

5

6,00,000

2013

7

8,40,000

2010

10

12,00,000

2005

15

18,00,000

SIP VALUE AS ON 31ST DECEMBER 2019

Starting - January Month of

Years

Invested Amount :

Schemes (Diversified Equity) Investment Value e

DISCLAIMER: We have taken due care and caution in compilation of this booklet. The information has been obtained formvarious reliable sources. However it does not guarantee the accuracy, adequacy or completeness of any information and are not responsible for any errors or omissions of the results obtained from the use of such information. Investors shold seek proper financial advise regarding the appropriateness of investing in any of the schemes stated, discussed or recommended in this newsletter and should realise that thestatements regarding future prospects may or may not realise. Mutual fund investments are subject to market risks. Please read the offer document carefully before investing. Past performance is for indicative purpose only and is not necessarily a guide to the future performance.

1,34,8821,31,1161,27,6931,26,7561,27,2941,26,8941,24,6121,22,5161,26,3451,28,2871,29,0061,28,6151,29,7421,27,0741,25,6411,28,8351,31,4611,25,7931,29,1391,20,4681,32,2441,27,1811,31,1361,22,2651,27,8661,27,2101,30,2771,24,5951,30,3881,18,5571,26,3511,30,7741,28,2271,26,4831,26,4221,27,7031,24,5821,23,1741,21,7611,29,4361,27,0491,24,1041,23,8961,31,0951,29,0171,25,5681,29,7301,27,3541,37,2481,14,308

140

1,26,0831,32,9601,24,8631,30,6901,33,4231,27,4811,30,8131,27,4631,25,3361,23,7091,27,8801,28,3021,30,8391,23,3301,29,1371,31,4271,29,7511,26,9991,32,5001,31,5501,33,3421,27,3291,24,3831,23,8211,24,9671,29,0071,27,0501,28,7711,30,4961,28,4041,33,4231,23,330

291,31,0041,29,7161,28,055

4,21,6173,88,6043,89,9623,82,8023,87,3664,06,4133,93,3483,55,3833,91,0293,74,0294,19,7083,93,8534,09,3163,61,4743,92,1403,87,2284,15,4773,83,4124,04,5513,51,3724,33,6913,98,6704,24,3463,47,9484,03,4813,87,2174,17,4653,56,7274,26,5603,14,9823,82,5374,14,2544,06,1003,87,5233,77,5003,89,9773,72,8453,74,1213,54,7894,05,4063,54,8113,70,7483,86,8194,21,5174,10,1313,60,5844,05,6763,90,2964,53,4033,10,316

139

3,88,0174,35,6473,65,9454,09,5504,02,4564,10,9474,12,0213,90,6983,87,6303,69,6923,86,2724,06,0864,00,8273,74,2704,09,2754,18,0584,11,2233,81,6084,22,9534,29,4714,06,5543,57,8923,77,3163,74,7383,69,4224,05,6794,01,7483,99,1194,01,8043,96,7904,35,6473,57,892

294,40,5304,27,6574,05,378

7,87,4737,07,1887,60,9587,21,9057,29,3407,69,2337,18,6207,13,3717,33,0036,75,8657,98,230

NA7,51,9536,47,0627,60,5627,59,7097,73,5157,44,4977,51,8916,36,5048,27,7577,46,7057,82,9876,28,7807,71,0267,84,6878,05,4956,74,9208,02,6385,72,7377,55,1157,64,3837,45,9497,22,0357,20,5596,93,9816,73,1807,03,1726,64,3677,30,7586,31,1006,76,5117,19,0457,81,3757,55,9606,59,7927,36,8247,31,9468,67,9265,72,737

136

7,36,9448,21,3346,65,1967,45,7217,57,7407,61,6417,89,4147,16,7017,12,3666,89,1857,26,9627,51,5807,33,0407,15,2567,72,8288,01,0147,75,4387,31,4927,86,550

NA8,10,1136,48,5357,30,7186,79,1856,87,9057,78,3297,65,8347,09,2987,41,5367,40,7818,21,3346,48,535

288,30,0268,05,0407,69,676

NANANA

13,40,55412,63,09613,12,98412,10,26714,71,48412,54,76011,32,940

NANA

12,38,177NA

12,53,07914,42,99312,72,06212,84,04412,86,19410,40,09014,36,61213,01,74312,92,24111,74,61213,68,37516,50,23113,85,24512,66,61612,83,68310,95,27913,65,32112,92,41812,08,49813,45,70312,95,95911,06,19910,79,41011,48,80611,05,27411,46,359

NA11,06,42211,52,68613,02,66612,40,74312,48,62011,74,93712,61,97117,39,1009,37,056

125

13,13,47914,85,77310,90,58512,67,27012,68,53212,50,97713,77,70211,96,63112,28,11011,46,54312,26,80412,80,305

NA12,39,19313,51,22613,78,19113,29,14812,43,85513,14,320

NANA

11,46,20312,58,93311,34,87611,48,02613,64,94812,55,94611,28,87012,18,53512,55,57614,85,77310,90,585

2613,23,49212,88,63212,66,939

NANANA

24,88,53721,92,75023,51,90122,14,971

NA21,87,08518,98,959

NANA

21,17,733NA

21,26,21328,06,53521,88,87123,32,15223,45,77417,24,15327,52,60123,47,69922,50,00723,16,14324,56,44833,84,98723,64,19024,02,10421,12,45219,82,38724,55,25322,96,47220,78,83025,48,04923,75,89418,00,08818,21,28320,02,71818,82,508

NANA

19,04,06719,16,52623,35,21221,36,57024,21,16420,40,61322,56,07533,84,98717,24,153

113

23,78,79229,46,99418,40,77623,30,94121,85,61521,84,35025,22,34821,23,91222,47,02519,83,18621,99,31823,24,914

NA22,84,15124,83,76823,78,81022,84,78821,96,72222,59,113

NANA

21,24,70722,96,10020,03,87319,73,83824,84,98021,19,955

NA20,86,74322,49,82929,46,99418,40,776

2522,64,84421,98,01921,73,487

NANANANA

51,82,614NANANANA

40,52,753NANA

45,15,867NA

43,26,591NANA

44,94,254NA

35,89,60567,16,73054,26,92751,63,565

NANANANA

62,69,36543,74,836

NA59,78,29749,86,76346,77,02256,67,51843,74,37333,54,99738,69,406

NA43,18,280

NANANANANANANANA

48,30,78467,16,73032,26,810

51

51,77,777NA

35,52,716NANA

54,46,802NANA

53,26,36145,63,080

NA54,29,090

NANANANANANA

42,20,469NANANA

45,64,90243,96,46042,49,06753,40,19646,62,647

NANA

47,44,13154,46,80235,52,716

12NA

47,23,34446,20,235

Motilal Oswal Focused 25 Fund - GrMotilal Oswal Midcap 30 Fund - GrMotilal Oswal Multicap 35 Fund - GrNippon India Focused Equity Fund - GrNippon India Growth Fund - GrNippon India Large Cap Fund - GrNippon India Multi Cap Fund - GrNippon India Small Cap Fund - GrNippon India Value Fund - GrNippon India Vision Fund GrParag Parikh Long Term Equity Fund - Reg GrPGIM India Diversified Equity Fund - GrPGIM India Large Cap Fund - GrPGIM India Midcap Opportunities Fund - GrPrincipal Dividend Yield Fund - GrPrincipal Emerging Bluechip Fund - GrPrincipal Focused Multicap Fund - GrPrincipal Multi Cap Growth Fund - GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Focused Equity Fund - Regular Plan - GrSBI Large & Midcap Fund - DivSBI Magnum Equity ESG Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Small Cap Fund - GrSundaram Large & Midcap Fund - GrSundaram Mid Cap Fund - GrSundaram Select Focus - GrSundaram Small Cap Fund - GrTata Equity P/E Fund GrTata Large & Mid Cap Fund - Regular Plan - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Discovery (Midcap) Fund - GrTaurus Largecap Equity Fund - GrTaurus Starshare (Multi Cap) Fund - GrTempleton India Equity Income Fund - GrTempleton India Value Fund - GrUnion Multi Cap Fund - GrUnion Small Cap Fund - GrUTI Core Equity Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - GrUTI Master Share - GrUTI Mid Cap Fund - GrUTI Value Opportunities Fund - GrAverage Value of Above FundsMaximum ValueMinimum ValueUniverseELSS / Tax Savings SchemesAditya Birla Sun Life Tax Relief 96 Fund - DivAxis Long Term Equity Fund - GrBaroda Elss 96 - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDSP Tax Saver Fund - GrEdelweiss Long Term Equity Fund (Tax Savings) - GrFranklin India Taxshield GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDBI Equity Advantage Fund - GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMirae Asset Tax Saver Fund - GrMotilal Oswal Long Term Equity Fund - GrNippon India Tax Saver Fund - GrPrincipal Tax Savings FundSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUnion Long Term Equity Fund - GrUTI Long Term Equity Fund (Tax Saving) - GrAverage Value of Above FundsMaximum ValueMinimum ValueUniverseS&P BSE SENSEX TRINIFTY 50 TRINIFTY 500 TRI

2019

1

1,20,000

2017

3

3,60,000

2015

5

6,00,000

2013

7

8,40,000

2010

10

12,00,000

2005

15

18,00,000