TheAnalystAPR2011ULIP

8/6/2019 TheAnalystAPR2011ULIP

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the analystmonthly fund factsheetund snapshot

investment philosophyReliance Life Insurance seeksconsistent and superior long-termreturns with a well-defined anddisciplined investment approachsymbolizing integrity and transparencyto benefit all stakeholders.

Indian EconomyRBI hiked its key policy rates (Repo and Rev Repo rate) by 25bps in its monetary policy review.

Rally in commodity prices (especially crude oil) witnessed in last couple of months have raised inflationary concerns indeveloping countries. In addition, global food prices have already touched record levels of 2008 driven mainly by floods invarious parts of world due to global warming. Industrial production growth continued to remain volatile and showedfigures from 3.7% yoy in Jan'11 from 1.6%% in Dec10. For the period Apr-Jan , IIP grew at 8.18% yoy v/s 9.50%previous year same period.

Credit growth continues to be robust at 23.2% by mid-Mar11 from 17% at end-Mar10 - supported by busy seasondemand and favorable base effect. However, deposits growth has been languishing and is now at 16.6% from around17% at end Mar10. The inflation, after moderating from the peak of 11% in April10 to 7.5% in Nov10, in terms ofwhole sale price index (WPI) harden in Feb10 to 8.31%. Sharp jump in food and non-food prices driven mainly by

unseasonal rains harming output, high mineral prices and domestic fuel price hike has pushed up general price levels .

Debt MarketAmid tight liquidity the g-sec yields showed a downward movement on back of no supply in the month of March. Mostactively traded 12 yr paper touched a New mow of 8.01% against 8.08% in previous month. Corporate bond yields alsoinched up at the end of the month due to fresh primary issuances like SBI and IRFC but overall levels by end-March were

still lover than February end levels.

Debt Outlook:In the Coming month, we expect interest rates to harden further. We expect liquidity to ease gradually but remain tight oncredit demand and slow growth in deposit base. As expected RBI hiked its key rates in Mid Quarter review, stating risinginflation is a major concern. RBI is expected to hike rates in its next Quarterly review policy meeting. Key economicdata-points like adhering to estimated budget numbers for FY12, monthly inflation numbers, IIP numbers, credit numbers,overall liquidity in system are likely to dominate the yield curve and RBIs action.

Equity MarketFiscal Year 2010-11 was an average year for the equity markets with the benchmark Sensex up by 10.94%. The yearlost momentum in the 2nd half of the Fiscal Year primarily due to high inflation, growth concerns and reversal of FII flowsto US.

The year ends with some overhangs for the equity markets viz:- Scams e.g., Loan bribery, 2G licenses, stock price rigging,Delicate Political Situation, Inflation, Rising commodity prices and costs of borrowing, Acute shortage of liquidity in thebanking system, Pressure on account of current account and fiscal deficit. Due to above factors, the growth dynamicsmight come under pressure which may have a potential impact on capital flows.

Positives in the year continue to be robust auto and consumer good sales, growing consumerism andincrease in spending power of people.

Equity Outlook:Equity markets in the coming year will be governed by global factors like crude oil prices and strength in the US economy.While domestically the key factors to watch out for would be industrial growth, inflation, interest rates and fiscal deficitnumbers.

April 2011

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*CAGR: Compounded Annual Growth Rate

asset allocationgross return (CAGR*) (%) As on Mar 31, 2011

funds100% equity Equity Fund 12.67% 38.99% 9.73% 19.72% August, 2004

100% pure equity Pure Equity Fund 7.84% 36.16% NA 13.08% June, 2008

100% equity Infrastructure Fund -5.91% 16.44% -5.18% -5.18% March, 2008100% equity Energy Fund 4.63% 20.68% 3.15% 3.15% March, 2008

100% equity Midcap Fund -1.73% 38.91% 2.60% 2.60% March, 2008

80% equity, 20% debt Super Growth Fund 9.99% 29.74% 7.99% 6.89% May, 2007

60% equity, 40% debt High Growth Fund 9.42% 24.14% 8.71% 10.04% March, 2007

50% equity, 50% debt Growth Plus Fund 8.84% 21.38% 9.03% 9.79% March, 2007

40% equity, 60% debt Growth Fund 7.32% 17.81% 8.56% 12.08% August, 2004

20% equity, 80% debt Balanced Fund 6.81% 12.46% 8.78% 10.58% February, 2003

100% bond instruments Corporate Bond Fund 6.98% 8.45% 9.31% 9.61% May, 2007

100% debt Instruments Pure Debt Fund 6.70% 8.16% 9.08% 8.96% April, 2007

100% govt. securities Gilt Fund 7.73% 6.21% 6.52% 6.52% May, 2007

100% debt Instruments Guaranteed Bond Fund I 6.77% 8.68% NA 11.56% December, 2008

100% money market instruments Money Market Fund 7.80% 8.01% 8.88% 8.92% May, 2007

100% money market instruments Capital Secure Fund 7.44% 7.52% 8.38% 7.09% February, 2003

100% equity Equity Plus Fund 9.56% NA NA 9.62% January, 2010100% dynamic Highest Nav Guarantee Fund 8.10% NA NA 12.36% February, 2010

date ofinceptionlast1 year last2 year last3 year sinceinception

100% dynamicHighest NAV Advantage Fund-Series I

NA NA NA NA September, 2010

100% pure equity New Pure Equity Fund 7.81% NA NA 5.18% January, 2010

100% equity New Infrastructure Fund -6.32% NA NA -8.48% January, 2010

100% equity New Energy Fund 4.87% NA NA -0.13% January, 2010

100% equity New Midcap Fund -2.03% NA NA -4.48% January, 2010

100% bond instruments New Corporate Bond Fund 7.12% NA NA 7.06% January, 2010

100% govt. securities New Gilt Fund 7.80% NA NA 7.35% January, 2010

100% money market instruments New Money Market Fund 7.87% NA NA 7.54% January, 2010

Source:1Bloomberg, 2 eaindustry.nic.in, 3 RBI and 4 SEBI

Economy Indicators 31stMar 11 28thFeb 11 %Change1Rs./$ 44.59 45.27 -1.54

2WPI Inflation Index 146 0.07

3Forex Reserves ($ bn) 303.48 300.79 0.89

1Oil Price ($ per Barrel) 106.72 96.97 9.14

1Gold (Rs. per 10gm) 20533 20546 -0.06

Investments 31stMar 11 28thFeb 11 AbsoluteChange4FIIs (Rs Crs) 6,898 -4,586 11483.30

4Mfs (Rs Crs) -253 1,427 -1680.40

31stMar 11 28thFeb 11 %Change1BSE Sensex 19445 17823 9.10

1S&P CNX Nifty 5834 5333 9.381CNX Mid Cap 8040 7370 9.09

1BSE Small Cap 8176 7817 4.59

31stMar 11 28thFeb 11 %Change1Dow Jones 12351 12226 1.02

1FTSE 100 5909 5994 -1.42

1Hang Seng 23528 23338 0.81

1Nikkei 9755 10624 -8.18

31stMar 11 28thFeb 11 %Change1CNX Infrastructure 3077 2811 9.47

1

CNX Energy 9481 8680 9.221BSE Capital Goods 13234 12400 6.73

1BSE Bankex 13300 11840 12.33

1BSE Oil & Gas 10241 9459 8.26

1BSE IT 6548 6107 7.23

31stMar 11 28thFeb 11 AbsoluteChange1NSE Mibor 9.24 7.00 2.24

191 Day T-Bill 7.25 7.10 0.15

1182 Day T-Bill 7.45 7.45 0.00

11 year GOIBenchmark

7.53 7.52 0.01

15 Year GOIBenchmark

7.91 8.08 -0.17

110 Year GOI

Benchmark

7.99 8.02 -0.03

15 Year Corp BondBenchmark

9.24 9.32 -0.08

110 Year AAA Corp BondBenchmark

9.16 9.19 -0.03

110 Year USBenchmark

3.47 3.43 0.04

# Forex Reserves updated as on 25th Mar 2011


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Equity Fundfund performance As on Mar 31, 2011

low low tomoderate

moderate moderateto high

high

fund objectiveProvide high real rate of return in thelong-term through high exposure toequity investments, while recognizingthat there is significant probability ofnegative returns in the short term. Therisk appetite is high.

target asset allocationEquity: 100%

benchmark constructionS&P CNX Nifty: 100%


asset allocation as on Mar 31, 2011

fund characteristics as on Mar 31, 2011

growth of initial investment of Rs. 10,000 in MRP

period grossfundreturnbenchmarkreturn fundstandarddeviation

benchmarkstandarddeviationfundsharperatio

benchmarksharperatiolast 1 year 12.67% 11.14% 17.49% 20.57% 0.44% 0.30%

last 2 year (CAGR*) 38.99% 38.96% 23.32% 28.34% 1.46% 1.20%last 3 year (CAGR*) 9.73% 7.21% 28.93% 32.97% 0.16% 0.07%

last 4 year (CAGR*) 11.42% 11.16% 29.71% 32.33% 0.22% 0.19%

last 5 year (CAGR*) 10.74% 11.39% 27.91% 30.18% 0.21% 0.21%

since inception (CAGR*) 19.72% 21.05% 26.27% 28.07% 0.56% 0.57%

date of inception august, 2004

portfolio As on Mar 31, 2011

Fund Beta 0.91

fund risk profile

security % totalnetassets1-yrbeta

equityAUTO ANCILLARYBHARAT FORGE LTDEXIDE INDUSTRIES LTDAUTOMOBILESMAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMARUTI SUZUKI INDIA LTDMOTHERSON SUMI SYSTEMS LTDBANKING & FINANCEICICI BANK LTDSTATE BANK OF INDIAHDFC BANK LTDAXIS BANK LTDSHRIRAM TRANSPORT FINANCE COMPANY LTDBANK OF BARODAHOUSING DEVELOPMENT FINANCE CORPORATIONPOWER FINANCE CORPORATION LTDINDUSIND BANK LTDCAP GOODS / ENGINEERINGCUMMINS INDIA LTDLARSEN & TOUBRO LTDBHARAT HEAVY ELECTRICALS LTDALSTOM PROJECTS INDIA LTDCROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDINDIA CEMENTS LTDCONSTRUCTIONJAIPRAKASH ASSOCIATES LTDNCC LTDCONSUMER GOODSSINTEX INDUSTRIES LTDBALLARPUR INDUSTRIES LTDFMCGITC LTDHINDUSTAN UNILEVER LTDHINDUSTAN ZINC LTDTATA GLOBAL BEVERAGES LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDMEDIAHT MEDIA LTDMETALSTATA STEEL LTDSTERLITE INDUSTRIES INDIA LTDJINDAL STEEL AND POWER LTDJINDAL SAW LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDOIL INDIA LTDPHARMACEUTICALSDIVIS LABORATORIES LTDLUPIN LTDSUN PHARMACEUTICALS INDUSTRIES LTDSTRIDES ARCOLABS LTDRANBAXY LABORATORIES LTDAUROBINDO PHARMA LTDPOWERNTPC LTDTATA POWER LTDAREVA T & D INDIA LTDRETAILPANTALOON RETAIL INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

1.150.620.535.552.391.241.060.8622.416.524.143.462.681.771.571.340.660.279.753.313.132.310.840.162.071.610.461.761.150.611.070.710.367.574.841.251.000.480.970.9710.326.433.890.500.505.661.851.601.410.801.131.1310.918.311.950.657.442.842.180.940.670.500.311.671.120.480.070.010.012.602.6092.54

1.110.54

1.140.680.740.62

1.491.151.001.310.510.701.110.881.16

0.451.100.810.950.73

0.481.00

1.691.40

1.000.88

0.730.531.110.76

0.59

0.760.84

0.38

1.381.511.110.94

0.84

1.030.240.24

0.520.630.601.100.900.97

0.620.600.71

1.24

0.71

total money market instruments 7.46total net assets 100.00

10,000

30,087

5,000

10,000

15,000

20,000

25,000

30,000

35,000

inception 9-Aug-2004 31-Mar-11

92.54%

7.46%

equity

total money

marketinstruments

% total net asset


3/37

Pure Equity Fundfund performance As on Mar 31, 2011

low low tomoderate


high


target asset allocationPure Equity: 100%(*Investments only in sectors other than banks andnon-banking financial companies, breweries,distilleries, alcohol based chemicals, cigarettes,tobacco, entertainment, leather, sugar andhatcheries.)





growth of initial investment of Rs. 10,000 in SIP





date of inception june, 2008

last 2 year (CAGR*) 36.16% 38.96% 24.30% 28.34% 1.28% 1.20%

portfolio As on Mar 31, 2011security % totalnetassets

1-yrbetaequityAUTO ANCILLARYEXIDE INDUSTRIES LTD

AUTOMOBILESMARUTI SUZUKI INDIA LTDMAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMOTHERSON SUMI SYSTEMS LTDCAP GOODS / ENGINEERINGBHARAT HEAVY ELECTRICALS LTDLARSEN & TOUBRO LTDCUMMINS INDIA LTDCROMPTON GREAVES LTDVOLTAS LTDCEMENT & CEMENT PRODUCTSGRASIM INDUSTRIES LTDULTRATECH CEMENT LTDFMCGHINDUSTAN UNILEVER LTDASIAN PAINTS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALS

JINDAL STEEL AND POWER LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATIONPHARMACEUTICALSSUN PHARMACEUTICALS INDUSTRIESRANBAXY LABORATORIES LTDAVENTIS PHARMA LTDLUPIN LTDPOWERTATA POWER LTDNTPC LTDAREVA T & D INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.620.62

12.395.042.562.542.2511.084.143.531.611.180.623.061.981.084.122.931.193.483.4816.309.523.783.005.973.152.822.422.4212.728.753.979.693.162.672.371.495.862.872.140.854.704.7092.41

0.54

0.741.140.680.62

0.811.100.450.730.86

0.490.48

0.530.43

0.59

0.760.840.77

1.111.61

0.84

1.030.24

0.600.900.200.63

0.600.620.71

0.71


Fund Beta 0.76

fund risk profile

10,000

13,729

1,000

3,000

5,000

7,000

9,000

11,000

13,000

15,000

inception12-Jun-08

31-Mar-11

92.41%

7.59%

equity

total moneymarket

instruments

% total net asset


4/37

Infrastructure Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments in Infrastructure and alliedsectors, while recognizing that there isa significant probability of negativereturns in the short term. The riskappetite is 'high'


benchmark constructionCNX Infrastructure Index: 100%




growth of initial investment of Rs. 10,000 in TIPS-I



benchmarksharperatiolast 1 year -5.91% -10.11% 19.62% 23.37% -0.56% -0.65%

last 2 year (CAGR*) 16.44% 13.95% 24.75% 33.82% 0.46% 0.26%

since inception (CAGR*) -5.18% -10.29% 30.50% 37.89% -0.33% -0.40%

date of inception march, 2008

last 3 year (CAGR*) -5.18% -10.29% 30.50% 37.89% -0.33% -0.40%


1-yrbeta

equityAUTO ANCILLARYBHARAT FORGE LTDEXIDE INDUSTRIES LTDAUTOMOBILESMOTHERSON SUMI SYSTEMS LTDCAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDBHARAT HEAVY ELECTRICALS LTDCROMPTON GREAVES LTDVOLTAS LTDALSTOM PROJECTS INDIA LTDIRB INFRASTRUCTURE DEVELOPERS LTDGREAVES COTTON LTDCEMENT & CEMENT PRODUCTSGRASIM INDUSTRIES LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDASHOKA BUILDCON LTDCONSUMER GOODSSINTEX INDUSTRIES LTDGASGAIL (INDIA LTDITWIPRO LTDINFOSYS TECHNOLOGIES LTDMETALSINDIAN METALS AND FERRO ALLOYS LTDTATA STEEL LTD

JINDAL STEEL AND POWER LTDOIL REFINERIESRELIANCE INDUSTRIES LTDPOWERNTPC LTDPOWER GRID CORPORATION OF INDIA LTDTATA POWER LTDAREVA T & D INDIA LTDORIENT GREEN POWER CO LTDRETAILPANTALOON RETAIL INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

4.403.430.970.870.8724.968.468.163.321.891.301.110.723.913.918.035.932.101.041.043.653.654.952.482.4710.673.883.663.132.942.9422.778.004.684.223.832.040.650.658.888.8897.72

1.110.54

0.62

1.100.810.730.860.951.240.65

0.49

1.690.49

1.00

0.59

0.770.76

0.751.381.11

1.03

0.620.460.600.710.75

1.24

0.71


Fund Beta 0.85

fund risk profile

10,000

8,509

5,000

6,000

7,000

8,000

9,000

10,000

11,000

inception19-Mar-08

31-Mar-11

97.72%

2.28%

equity

total money

marketinstruments

% total net asset


5/37

Energy Fundfund performance As on Mar 31, 2011

low low to

moderate

moderate moderate

to high

high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments in Energy and alliedsectors, while recognizing that there isa significant probability of negativereturns in the short term. The riskappetite is 'high'


benchmark constructionCNX Energy Index: 100%







benchmarksharperatiolast 1 year 4.63% 5.10% 15.44% 20.51% -0.02% 0.01%

last 2 year (CAGR*) 20.68% 20.77% 22.19% 27.14% 0.71% 0.58%

since inception (CAGR*) 3.15% 3.38% 27.82% 31.79% -0.07% -0.05%


last 3 year (CAGR*) 3.15% 3.38% 27.82% 31.79% -0.07% -0.05%



BANKING & FINANCEPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDCUMMINS INDIA LTDBHARAT HEAVY ELECTRICALS LTDCROMPTON GREAVES LTDALSTOM PROJECTS INDIA LTDGASGAIL (INDIA LTDPETRONET LNG LTDMETALS

JINDAL STEEL AND POWER LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDOIL INDIA LTD

INDIAN OIL CORPORATION LTDPOWERNTPC LTDPOWER GRID CORPORATION OF INDIA LTDORIENT GREEN POWER CO LTDTATA POWER LTDtotal equity

2.482.48

1.131.1315.804.993.863.332.820.8010.728.212.513.343.348.738.7330.579.078.557.72

5.2320.239.048.272.130.7993.00

0.54

0.88

1.100.450.810.730.95

0.591.24

1.11

0.84

1.030.240.24

0.48

0.620.460.750.60


Fund Beta 0.66

fund risk profile

10,00010,786

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

inception19-Mar-08

31-Mar-11

93.00%

7.00%

equity

total moneymarket

instruments

% total net asset


6/37

Mid Cap Fund fund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments in Midcap companieswhile recognizing that there issignificant probability of negativereturns in the short term. The riskappetite is 'high'


benchmark constructionNifty Midcap 50: 100%








last 2 year (CAGR*) 38.91% 46.64% 29.74% 40.73% 1.14% 1.02%

since inception (CAGR*) 2.60% 1.84% 35.24% 45.57% -0.07% -0.07%


last 3 year (CAGR*) 2.60% 1.84% 35.24% 45.57% -0.07% -0.07%



BHARAT FORGE LTDAUTOMOBILESTATA MOTORS LTD DVR SHARESBANKING & FINANCEANDHRA BANK LTDSHRIRAM TRANSPORT FINANCE COMPANY LTDINDUSIND BANK LTDBANK OF BARODACAP GOODS / ENGINEERINGCUMMINS INDIA LTDGREAVES COTTON LTDVOLTAS LTDIRB INFRASTRUCTURE DEVELOPERS LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDSINTEX INDUSTRIES LTDBALLARPUR INDUSTRIES LTD

FERTILIZERSGUJARAT STATE FERTILIZERS & CHEMICALS LTDTATA CHEMICALS LTDFMCGTATA GLOBAL BEVERAGES LTDUNITED SPIRITS LTDGASPETRONET LNG LTDMEDIAHT MEDIA LTDMETALSINDIAN METALS AND FERRO ALLOYS LTD

JINDAL SAW LTDJSW STEEL LTDJINDAL STEEL AND POWER LTDTATA STEEL LTDPHARMACEUTICALSLUPIN LTDAVENTIS PHARMA LTD

STRIDES ARCOLABS LTDAUROBINDO PHARMA LTDDIVIS LABORATORIES LTDPOWERAREVA T & D INDIA LTDRETAILPANTALOON RETAIL INDIA LTDtotal equity

7.424.38

3.042.192.199.103.622.581.721.1811.434.732.842.641.223.353.356.241.503.141.60

4.132.791.344.662.751.912.802.802.732.7314.383.903.743.491.951.3019.285.384.153.923.132.703.443.440.860.8692.01

0.54

1.11

1.45

0.940.511.160.70

0.450.650.861.24

0.48

1.691.000.88

0.500.84

0.761.14

1.24

0.38

0.750.941.721.111.38

0.630.201.100.970.52

0.71

1.24


Fund Beta 0.84

fund risk profile

10,000

11,052

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

inception19-Mar-08

31-Mar-11

92.01%

7.99%

equity

total money

marketinstruments

% total net asset


7/37

Super Growth Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments, while recognizing thatthere is significant probability ofnegative returns in the short term,which will be moderated through someexposure to debt. The risk appetite ishigh

target asset allocationDebt: 20%Equity: 80%

benchmark constructionCRISIL ST Bond Index: 20%S&P CNX Nifty: 80%




growth of initial investment of Rs. 10,000 in AIP




last 2 year (CAGR*) 29.74% 32.26% 18.06% 22.74% 1.37% 1.20%


date of inception may, 2007

last 3 year (CAGR*) 7.99% 8.08% 22.87% 26.45% 0.13% 0.12%


M.Duration of debt portfolio: 3.1 years

YTM of debt portfolio: 8.83%Beta of equity portfolio: 0.90

fund risk profile

security % totalnetassetsrating/1-yrbeta

gilts8.24% GOI (MD 22/04/2018)8.47% NAGALAND SDL (MD 25/03/2019)total gilts

0.580.571.15

sovereignsovereignsovereign


bond/cd8.88% LIC HOUSING FINANCE NCD 13/10/202011.95% HDFC LTD NCD 26/11/20189.4% NABARD SERIES XI Q NCD 30/03/20148.95% HDFC LTD NCD 19/10/20208.98% HDFC LTD NCD 26/11/20208.99% TATA SONS LTD NCD 07/06/20208.40% ADITYA BIRLA NUVO LTD NCD 23/11/20128.90% POWER GRID CORP LTD NCD STRPP D 25/2/179.05% SBI PERPETUAL NCD CALL/STEP-UP 27/01/20208.95% IRFC NCD SERIES 69 10/03/20259.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/1511.35% RECL LTD NCD 24/10/2013 P/C 24/10/20119.25% IDBI BANK LTD PERP NCD CALL/STEP-UP 29/01/20UNION BANK OF INDIA CD 28/11/201110% NABARD NCD SR IX 14/05/20129.25% POWER GRID CORPORATION NCD 09/02/20139.50% SBI NCD 04/11/25 CALL/STEP-UP 05/11/208.64% POWER GRID CORPN LTD NCD 08/07/2014-2025total bond/cd

1.821.641.431.411.411.411.400.710.710.570.430.290.270.220.090.070.060.3314.27

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equityAUTO ANCILLARYEXIDE INDUSTRIES LTDBHARAT FORGE LTDAUTOMOBILESBAJAJ AUTO LTD NEWMAHINDRA & MAHINDRA LTDMARUTI SUZUKI INDIA LTDTATA MOTORS LTD DVR SHARESBANKING & FINANCEICICI BANK LTDHDFC BANK LTDAXIS BANK LTDSTATE BANK OF INDIASHRIRAM TRANSPORT FINANCE COMPANY LTDBANK OF BARODAHOUSING DEVELOPMENT FINANCE CORPORATION LTDPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGBHARAT HEAVY ELECTRICALS LTDLARSEN & TOUBRO LTDCUMMINS INDIA LTDVOLTAS LTDCROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTIONJAIPRAKASH ASSOCIATES LTDCONSUMER GOODSSINTEX INDUSTRIES LTDBALLARPUR INDUSTRIES LTD

FMCGITC LTDHINDUSTAN UNILEVER LTDUNITED SPIRITS LTDASIAN PAINTS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALSJINDAL STEEL AND POWER LTDTATA STEEL LTDSTERLITE INDUSTRIES INDIA LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDINDIAN OIL CORPORATION LTDOIL INDIA LTDPHARMACEUTICALSDIVIS LABORATORIES LTDLUPIN LTDSUN PHARMACEUTICALS INDUSTRIES LTDRANBAXY LABORATORIES LTDAVENTIS PHARMA LTDSTRIDES ARCOLABS LTDPOWERAREVA T & D INDIA LTDPOWER GRID CORPORATION OF INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.710.380.335.632.021.881.360.3718.404.143.613.332.601.461.411.390.465.581.661.570.870.780.701.121.120.970.970.950.780.17

6.615.310.710.550.041.161.169.985.812.701.474.651.681.371.330.270.820.8210.356.551.981.050.773.951.180.940.760.570.410.092.181.161.022.212.2175.27

0.541.11

0.681.140.741.45

1.491.001.311.150.510.701.110.88

0.811.100.450.860.73

0.48

1.69

1.000.88

0.730.531.140.43

0.59

0.760.840.77

1.111.381.511.61

0.84

1.030.240.480.24

0.520.630.600.900.201.10

0.710.46

0.71

10,000

12,373

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

13,000

inception28-May-07

31-Mar-11

1.15%

9.31%

14.27%

75.27%

gilts

totalmoney

market

bond / cd

equity

% total net asset


8/37

High Growth Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide, in the long-term, returnswhich are significantly higher than theinflation rate, through high exposure toequity investments, while recognizingthat there is some probability ofnegative returns in the short-term. Therisk appetite is moderate to high






growth of initial investment of Rs.10,000 in MGP




fund risk profile

security % totalnet assets rating/1-yr beta

gilts8.26% GOI (MD 02/08/2027)8.30% GOI (MD 02/07/2040)6.72% GOI 2014 (MD 24/02/2014)8.47% JHARKHAND SDL (MD 25/03/2019)total gilts

1.400.700.140.142.38

sovereignsovereignsovereignsovereignSovereign

total money market instruments 11.31`total net assets 100.00

bond/cd11.45% RELIANCE IND LTD NCD 25/11/201310.70% POWER FIN CORP LTD NCD 15/07/20138.99% TATA SONS LTD NCD 07/06/20208.75% RELIANCE INDUSTRIES LTD NCD 07/05/20208.40% HDFC LTD NCD 08/12/20148% RECL LTD NCD 05/08/20149.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/158.23%TATA CAP LTD NCD29/07/13PUT&RESET27/07/128.95% INFOTEL BROADBAND SERV LTD NCD 15/09/20CANARA BANK CD 23/11/201111.45% RELIANCE INDUSTRIES LTD NCD 25/11/20139.90% TATA SONS LTD NCD 20/05/20119.45% RECL LTD NCD 04/04/20139.50% TATA COMMUNICATION LTD NCD 08/06/2014

8.98% HDFC LTD NCD 26/11/20208.79% IRFC NCD 04/05/20309.40% POWER FIN CORP LTD NCD 25/03/20138.90% SAIL 01/05/2019 CALL 0105149.05% SBI PERPETUAL NCD CALL/STEP-UP 27/01/20208.48% LIC HOUSING FINANCE NCD 27/09/20138.88% LIC HOUSING FINANCE NCD 13/10/20208.68% NAT CAP REG PLAN NCD 18/8/19P/C18/08/168.84% POWER GRID CORPORATION LTD NCD 29/03/168.60% POWER FIN CORP LTD NCD 07/08/20148.78% POWER FIN CORP LTD NCD 15/11/20208.4% TATA CAPITAL LTD NCD 26/11/2012STATE BANK OF MYSORE CD 14/12/2011IDBI BANK LTD CD 24/05/2011ANDHRA BANK CD 17/11/201111.35% RECL LTD NCD 24/10/2013 P/C 24/10/20118.40% ADITYA BIRLA NUVO LTD NCD 23/11/20129.15% NAT CAP REG PLAN NCD 18/02/2019P/C1802167.60% ICICI BANK LTD NCD 30/12/20158.90% POWER GRID CORP LTD NCD STRPP A 25/2/148.90% POWER GRID CORP LTD NCD STRPP G 25/2/208.25% IDBI OMNI BOND SER III 26-05-20118.95% IRFC NCD SERIES 69 10/03/2025STATE BANK OF PATIALA CD 13/05/20119.25% IDBI BANK LTD PERP NCD CALL/STEP-UP 29/01/20CANARA BANK CD 19/12/2011UNION BANK OF INDIA CD 28/11/20118.64% POWER GRID CORPN LTD NCD 08/07/2014 - 202510.90% POWER FIN CORP LTD NCD 11/08/2013total bond/cd

1.771.441.401.381.371.360.920.900.840.830.720.710.710.71

0.700.700.700.700.700.690.690.690.690.690.690.690.660.630.540.440.420.420.350.350.350.340.280.280.260.130.130.770.0729.81

AAAAAAAAAAAAAAAAAAAA+AA+AAAP1+AAALAAAAAAAA+

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA+A1+P1+PR1+AAALAA+AAAAAAAAAAAAAA+AAAA1+AA

P1+P1+AAAAAA

equityAUTO ANCILLARYEXIDE INDUSTRIES LTDBHARAT FORGE LTDAUTOMOBILESMAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMARUTI SUZUKI INDIA LTDTATA MOTORS LTD DVR SHARESBANKING & FINANCEICICI BANK LTDHDFC BANK LTDAXIS BANK LTDSTATE BANK OF INDIABANK OF BARODASHRIRAM TRANSPORT FINANCE COMPANY LTDHOUSING DEVELOPMENT FINANCE CORPORATION LTDPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGBHARAT HEAVY ELECTRICALS LTDLARSEN & TOUBRO LTDCUMMINS INDIA LTDVOLTAS LTD

CROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTIONJAIPRAKASH ASSOCIATES LTDCONSUMER GOODSSINTEX INDUSTRIES LTDBALLARPUR INDUSTRIES LTDFMCGITC LTDUNITED SPIRITS LTDHINDUSTAN UNILEVER LTDASIAN PAINTS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALSJINDAL STEEL AND POWER LTDTATA STEEL LTDSTERLITE INDUSTRIES INDIA LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDOIL INDIA LTDPHARMACEUTICALSDIVIS LABORATORIES LTDSUN PHARMACEUTICALS INDUSTRIES LTDRANBAXY LABORATORIES LTDAVENTIS PHARMA LTDLUPIN LTDSTRIDES ARCOLABS LTDPOWERAREVA T & D INDIA LTDPOWER GRID CORPORATION OF INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.730.490.244.231.541.411.010.2714.193.262.652.502.061.161.151.070.344.201.281.080.720.61

0.510.890.890.760.760.730.600.135.033.830.550.480.170.590.598.195.002.101.093.531.321.030.980.200.610.617.154.961.590.602.480.910.550.420.310.220.071.550.860.691.641.6456.50

0.541.11

1.140.680.741.45

1.491.001.311.150.700.511.110.88

0.811.100.450.86

0.73

0.48

1.69

1.000.88

0.731.140.530.43

0.59

0.760.840.77

1.111.381.511.61

0.84

1.030.240.24

0.520.600.900.200.631.10

0.710.46

0.71




last 2 year (CAGR*) 24.14% 25.54% 13.67% 17.14% 1.40% 1.20%

last 3 year (CAGR*) 8.71% 8.47% 17.47% 19.95% 0.21% 0.17%



last 4 year (CAGR*) 10.42% 10.06% 18.04% 19.53% 0.30% 0.26%

10,000

14,026

1,000

3,000

5,000

7,000

9,000

11,000

13,000

15,000

inception01-Mar-07

31-Mar-11

2.38%

11.31%

29.81%

56.50%

gilts

total mon ey marketinstruments

bond / cd

equity

% total net asset


9/37

Growth Plus Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide, in the long-term, returnswhich are significantly higher than theinflation rate, through high exposure toequity investments, while recognizingthat there is some probability ofnegative returns in the short-term. Therisk appetite is moderate to high.






growth of initial investment of Rs.10,000 in MGP




fund risk profile


gilts8.26% GOI (MD 02/08/2027)8.30% GOI (MD 02/07/2040)6.72% GOI 2014 (MD 24/02/2014)8.32% GOI (MD 02/08/2032)total gilts

4.830.800.790.406.82

sovereignsovereignsovereignsovereignsovereign


bond/cdBANK OF INDIA CD 27/06/20118.8% RECL NCD 25/10/202012%TATA CAPITAL LTD NCD 05/03/2014 P/C 050312STATE BANK OF PATIALA CD 09/12/201110.60% IRFC NCD 11/09/2018HDFC LTD ZCB 30/08/20139.05% SBI PERPETUAL NCD CALL/STEP-UP 27/01/20208.99% TATA SONS LTD NCD 07/06/20208.79% IRFC NCD 04/05/20308.23%TATA CAP LTD NCD29/07/13PUT&RESET27/07/12

9.30% HDFC LTD NCD 18/01/20218.93% NTPC LTD NCD 19/01/202111.45% RELIANCE INDUSTRIES LTD NCD 25/11/201311.45% RELIANCE IND LTD NCD 25/11/20139.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/158.90% POWER GRID CORP LTD NCD STRPP F 25/2/199.07% RECL 28/02/20188.40% ADITYA BIRLA NUVO LTD NCD 23/11/20129.25% IDBI BANK LTD PERP NCD CALL/STEP-UP 29/01/207.60% ICICI BANK LTD NCD 30/12/201510% NABARD NCD SR IX 14/05/2012total bond/cd

3.963.162.482.292.202.082.012.001.991.99

1.841.801.481.061.021.000.810.790.380.150.0834.57

PR1+AAA

LAA+A1+AAAAAAAAAAAAAAAAA+

AAAAAAAAAAAAAA+AAAAAA

LAA+AA

AAAAAA

equityAUTO ANCILLARYEXIDE INDUSTRIES LTDBHARAT FORGE LTDAUTOMOBILESBAJAJ AUTO LTD NEWMAHINDRA & MAHINDRA LTDMARUTI SUZUKI INDIA LTDTATA MOTORS LTD DVR SHARESBANKING & FINANCEICICI BANK LTDAXIS BANK LTDHDFC BANK LTDSTATE BANK OF INDIASHRIRAM TRANSPORT FINANCE COMPANY LTDBANK OF BARODAHOUSING DEVELOPMENT FINANCE CORPORATION LTDPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGCUMMINS INDIA LTDBHARAT HEAVY ELECTRICALS LTDLARSEN & TOUBRO LTDVOLTAS LTDCROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDCONSUMER GOODSSINTEX INDUSTRIES LTDBALLARPUR INDUSTRIES LTD

FMCGITC LTDASIAN PAINTS LTDUNITED SPIRITS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALS

JINDAL STEEL AND POWER LTDTATA STEEL LTDSTERLITE INDUSTRIES INDIA LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDOIL INDIA LTDPHARMACEUTICALSDIVIS LABORATORIES LTDLUPIN LTDSUN PHARMACEUTICALS INDUSTRIES LTDRANBAXY LABORATORIES LTDAVENTIS PHARMA LTD

STRIDES ARCOLABS LTDPOWERAREVA T & D INDIA LTDPOWER GRID CORPORATION OF INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.440.240.203.241.151.090.780.2211.073.082.141.891.410.790.760.730.273.480.960.920.740.460.400.610.610.530.530.550.450.10

4.073.350.410.310.760.767.124.551.680.892.730.910.870.790.160.480.486.254.641.180.432.420.630.580.570.320.26

0.061.220.690.531.151.1546.12

0.541.11

0.681.140.741.45

1.491.311.001.150.510.701.110.88

0.450.811.100.860.73

0.48

1.69

1.000.88

0.730.431.14

0.59

0.760.840.77

1.111.381.511.61

0.84

1.030.240.24

0.520.630.600.900.20

1.10

0.710.46

0.71




last 2 year (CAGR*) 21.38% 22.19% 11.40% 14.34% 1.44% 1.20%

last 3 year (CAGR*) 9.03% 8.49% 14.74% 16.70% 0.27% 0.21%



last 4 year (CAGR*) 10.16% 9.83% 15.09% 16.36% 0.34% 0.30%

10,000

13,907

1,0003,000

5,000

7,000

9,000

11,000

13,000

15,000

inception01-Mar-07

31-Mar-11

10,000

13,907

1,000

3,000

5,000

7,000

9,000

11,000

13,000

15,000

inception01-Mar-07

31-Mar-11

46.12%

34.57%

12.49%

6.82%

equity

bond / cd

total money

market instruments

gilts

% total net asset


10/37

Growth Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveThe investment objective of the fund is toprovide investment returns that exceed therate of inflation in the long-term whilemaintaining moderate probability of negativereturns in the short-term. The risk appetite isdefined as moderate.






growth of initial investment of Rs.10,000 in MRP




fund risk profile


gilts8.35% GOI 2022 (M/D. 14.05.2022)total gilts 0.010.01

sovereignsovereign


bond/cd8.97% TATA SONS LTD NCD 15/07/20208.79% IRFC NCD 04/05/2030CENTRAL BANK OF INDIA CD 24/05/20112% TATA MOTORS LTD NCD 31/03/20148.25% IDBI OMNI BOND SER III 26-05-20118.95% INFOTEL BROADBAND SERV LTD NCD 15/09/2011.95% HDFC LTD NCD 26/11/2018HDFC LTD ZCB 30/08/20139.25% HDFC LTD. NCD 24/11/20169.30% HDFC LTD NCD 18/01/20219.70% LIC HOUSING FINANCE LTD NCD 07/04/2013

9.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/159.40% LIC HOUSING FINANCE 08/12/20129.40% POWER FIN CORP LTD NCD 25/03/20139.05% CANARA BANK PERP NCD CALL/STEP-UP 03/08/202010.35% HDFC LTD NCD 16/05/20179.00% LIC HOUSING FINANCE 23/11/20209.05% POWER FIN CORP LTD NCD 15/12/20209.05% POWER FIN CORP LTD NCD 15/12/20259.05% POWER FIN CORP LTD NCD 15/12/20309.05% SBI PERPETUAL NCD CALL/STEP-UP 27/01/20208.99% TATA SONS LTD NCD 07/06/20208.93% NTPC LTD NCD 19/01/20218.78% POWER FIN CORP LTD NCD 15/11/20208.4% TATA CAPITAL LTD NCD 26/11/20128.20% IRFC NCD 27/04/20168% RECL LTD NCD 05/08/20148.88% LIC HOUSING FINANCE NCD 13/10/202011.40% POWER FIN CORP LTD NCD 28/11/201311.45% RELIANCE IND LTD NCD 25/11/20139.3% TATA SONS LTD NCD 24/12/20158.65% L&T LTD PART PD NCD 26/5/20CALL 26/5/118.90% POWER GRID CORP LTD NCD STRPP E 25/2/1810.60% IRFC NCD 11/09/20188.95% IRFC NCD SERIES 69 10/03/20259.25% IDBI BANK LTD PERP NCD CALL/STEP-UP 29/01/209.50% SBI NCD 04/11/25 CALL/STEP-UP 05/11/20total bond/cd

4.244.233.951.881.721.691.651.471.441.441.44

1.441.431.431.421.421.421.421.421.421.421.421.411.401.401.381.380.980.900.900.860.720.420.310.290.270.1253.55

AAAAAA

PR1+AAAAA+AAAAAAAAAAAAAAAAAA

AA+AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA+AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

AAA

equityAUTO ANCILLARYEXIDE INDUSTRIES LTDBHARAT FORGE LTDAUTOMOBILESMAHINDRA & MAHINDRA LTDMARUTI SUZUKI INDIA LTDBAJAJ AUTO LTD NEWTATA MOTORS LTD DVR SHARESBANKING & FINANCEICICI BANK LTDAXIS BANK LTDSTATE BANK OF INDIAHDFC BANK LTDSHRIRAM TRANSPORT FINANCE COMPANY LTDBANK OF BARODAHOUSING DEVELOPMENT FINANCE CORPORATION LTDPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDCUMMINS INDIA LTDBHARAT HEAVY ELECTRICALS LTDVOLTAS LTDCROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTIONJAIPRAKASH ASSOCIATES LTDCONSUMER GOODSBALLARPUR INDUSTRIES LTDFERTILIZERSGUJARAT STATE FERTILIZERS & CHEMICALS LTDFMCGITC LTDUNITED SPIRITS LTDASIAN PAINTS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALSSTERLITE INDUSTRIES INDIA LTDJINDAL STEEL AND POWER LTDTATA STEEL LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDPHARMACEUTICALSLUPIN LTDDIVIS LABORATORIES LTDSUN PHARMACEUTICALS INDUSTRIES LTDRANBAXY LABORATORIES LTDAVENTIS PHARMA LTDSTRIDES ARCOLABS LTDPOWERAREVA T & D INDIA LTDPOWER GRID CORPORATION OF INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.350.190.162.560.880.770.730.189.502.501.811.351.300.970.840.510.222.830.700.690.640.450.350.620.620.350.350.080.080.420.423.242.380.490.370.560.565.803.641.440.722.630.940.840.720.130.410.414.373.380.992.290.720.570.450.280.220.051.010.570.441.281.2838.30

0.541.11

1.140.740.681.45

1.491.311.151.000.510.701.110.88

1.100.450.810.860.73

0.48

1.69

0.88

0.50

0.731.140.43

0.59

0.760.840.77

1.511.111.381.61

0.84

1.030.24

0.630.520.600.900.201.10

0.710.46

0.71




last 2 year (CAGR*) 17.81% 18.83% 9.31% 11.55% 1.38% 1.20%

last 3 year (CAGR*) 8.56% 8.40% 12.15% 13.47% 0.29% 0.25%

last 4 year (CAGR*) 9.74% 10.22% 12.58% 13.22% 0.38% 0.40%

last 5 year (CAGR*) 9.11% 9.94% 11.82% 12.35% 0.35% 0.40%since inception (CAGR*) 12.08% 12.63% 10.97% 11.37% 0.65% 0.67%

date of inception august, 2004

10,000

19,262

5,000

7,000

9,000

11,000

13,000

15,000

17,000

19,000

21,000

inception09-Aug-04

31-Mar-11

53.55%

38.30%

8.14%

0.01%

bond / cd

equity

total moneymarket

instruments

gilts

% total net asset


11/37

Balanced Fundfund performance As on Mar 31, 2011

low low to

moderate

moderate moderate

to high

high

fund objectiveThe investment objective of the fund isto provide investment returns thatexceed the rate of inflation in the long-term while maintaining a low prob-ability of negative returns in the short-term. The risk appetite is defined aslow to moderate.

target asset allocationDebt.: 80%Equity: 20%









last 2 year (CAGR*) 12.46% 12.14% 5.16% 6.01% 1.45% 1.19%

last 3 year (CAGR*) 8.78% 7.87% 6.82% 7.08% 0.55% 0.41%

last 4 year (CAGR*) 9.57% 9.02% 6.95% 6.95% 0.66% 0.58%

last 5 year (CAGR*) 8.94% 8.68% 6.54% 6.50% 0.60% 0.57%since inception (CAGR*) 10.58% 9.50% 5.64% 5.71% 0.99% 0.79%

date of inception february, 2003


M.Duration of debt portfolio: 4.3 yearsYTM of debt portfolio: 9.21%Fund Beta: 0.89

fund risk profile


gilts8.26% GOI (MD 02/08/2027)8.30% GOI (MD 02/07/2040)6.72% GOI 2014 (MD 24/02/2014)8.24% GOI (MD 22/04/2018)total gilts

6.021.810.240.218.28

sovereignsovereignsovereignsovereignsovereign


bond/cd9.95% STATE BK INDIANCD16/03/2026CALL 16/03/218.97% TATA SONS LTD NCD 15/07/202011.45% RELIANCE INDUSTRIES LTD NCD 25/11/20139.30% HDFC LTD NCD 18/01/20219.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/158.93% NTPC LTD NCD 19/01/20218.99% TATA SONS LTD NCD 07/06/20208.95% INFOTEL BROADBAND SERV LTD NCD 15/09/2011.40% POWER FIN CORP LTD NCD 28/11/2013HDFC LTD ZCB 30/08/20138.70% BAJAJ AUTO FINANCE LTD NCD 22/07/20158.8% RECL NCD 25/10/20208.75% RELIANCE INDUSTRIES LTD NCD 07/05/20209.95% IL&FS LTD NCD 14/02/2016

8.42% SHREE CEMENT LTD NCD 22/07/201511.25% POWER FIN CORP LTD NCD 28/11/20189.40% LIC HOUSING FINANCE 08/12/20129.9% TATA SONS LTD NCD 18/03/20168% RECL LTD NCD 0 5/08/20149.3% TATA SONS LTD NCD 24/12/20158.40% HDFC LTD NCD 08/12/20149.90% TATA SONS LTD NCD 20/05/20119.35% LIC HO FI LTD NCD 23/11/2014 P/C 2311129.50% TATA COMMUNICATION LTD NCD 08/06/201410.05% NABARD 11/06/201410.20% SUNDRAM FINANCE LTD NCD 29/05/20138.90% SAIL 01/05/2019 CALL 0105149.05% CANARA BANK PERP NCD CALL/STEP-UP 03/08/20208.40% ADITYA BIRLA NUVO LTD NCD 23/11/20128.79% IRFC NCD 04/05/20308.48% LIC HOUSING FINANCE NCD 27/09/20138.88% LIC HOUSING FINANCE NCD 13/10/20209.00% LIC HOUSING FINANCE 23/11/20208.68% NAT CAP REG PLAN NCD 18/8/19P/C18/08/169.05% POWER FIN CORP LTD NCD 15/12/20209.05% POWER FIN CORP LTD NCD 15/12/20308.99% POWER FIN CORP LTD NCD 15/01/20218.4% TATA CAPITAL LTD NCD 26/11/20128.78% POWER FIN CORP LTD NCD 15/11/20208.60% POWER FIN CORP LTD NCD 07/08/20247.60% HDFC LTD NCD 08/12/20179.25% IDBI BANK LTD PERP NCD CALL/STEP-UP 29/01/209.30% POWER FIN CORP LTD NCD 12/03/20138.2% NATIONAL HSG BANK NCD 30/08/139.34% STATE BANK OF TRAVAN NCD PERP CALL 31/10/1611.15% HDFC LTD NCD 06/08/20189.05% SBI PERPETUAL NCD CALL/STEP-UP 27/01/20208.23%TATA CAP LTD NCD29/07/13PUT&RESET27/07/1211.10% POWER FIN CORP LTD NCD 15/09/2013.8.40% L & T FINANCE LTD NCD 08/03/20138.90% POWER GRID CORP LTD NCD STRPP H 25/2/2111.45% RELIANCE IND LTD NCD 25/11/20138.65% L&T LTD PART PD NCD 26/5/20CALL 26/5/119.33% POWER GRID CORP LTD NCD 15/12/201310.60% IRFC NCD 11/09/20189.50% SBI NCD 04/11/25 CALL/STEP-UP 05/11/2010.35% HDFC LTD SR E006 NCD 06/06/201710% NABARD NCD SR IX 14/05/201211.35% RECL LTD NCD 24/10/2013 P/C 24/10/2011total bond/cd

3.863.582.672.572.562.512.412.401.901.861.791.771.631.49

1.401.351.211.181.171.060.850.850.730.620.610.610.600.590.590.590.590.590.590.590.590.590.590.590.580.570.560.560.550.470.440.410.410.410.330.310.310.310.300.230.130.130.120.120.0559.03

AAAAAAAAAAAAAA+AAAAAAAAAAAAAAA

LAA+AAAAAA

LAAAAA+AAAAAAAAAAAAAAAAAA

LAAAAAAAA+AAAAA+AAAAAA

LAA+AAAAAAAAAAAAAAAAAAAAAAAAAA+AAAAAAAAAAA

AAAAAAAAAAAAAAAAA+AAAAA+

AAAAAAAAAAAAAAAAAAAAAAAAAAA

equityAUTO ANCILLARYEXIDE INDUSTRIES LTDBHARAT FORGE LTDAUTOMOBILESMAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMARUTI SUZUKI INDIA LTDTATA MOTORS LTD DVR SHARESBANKING & FINANCEICICI BANK LTDAXIS BANK LTDSTATE BANK OF INDIAHDFC BANK LTDSHRIRAM TRANSPORT FINANCE COMPANY LTDBANK OF BARODAHOUSING DEVELOPMENT FINANCE CORPORATION LTDPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGCUMMINS INDIA LTDLARSEN & TOUBRO LTDBHARAT HEAVY ELECTRICALS LTDCROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTIONJAIPRAKASH ASSOCIATES LTDCONSUMER GOODSSINTEX INDUSTRIES LTDFERTILIZERSGUJARAT STATE FERTILIZERS & CHEMICALS LTDFMCGITC LTDASIAN PAINTS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALSSTERLITE INDUSTRIES INDIA LTDJINDAL STEEL AND POWER LTDTATA STEEL LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDPHARMACEUTICALSLUPIN LTDDIVIS LABORATORIES LTDSUN PHARMACEUTICALS INDUSTRIES LTD

RANBAXY LABORATORIES LTDAVENTIS PHARMA LTDSTRIDES ARCOLABS LTDPOWERAREVA T & D INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.210.130.081.270.430.380.370.094.771.350.890.670.660.440.400.240.121.460.550.420.310.180.560.560.160.160.080.080.360.361.301.120.180.270.272.961.860.730.371.260.450.380.360.070.210.212.101.620.481.530.440.420.40

0.140.110.020.450.450.620.6219.57

0.541.11

1.140.680.741.45

1.491.311.151.000.510.701.110.88

0.451.100.810.73

0.48

1.69

1.00

0.50

0.730.43

0.59

0.760.840.77

1.511.111.381.61

0.84

1.030.24

0.630.520.60

0.900.201.10

0.71

0.71

10,000

17,248

5,000

7,000

9,000

11,000

13,000

15,000

17,000

19,000

inception9-Aug-2004

31-Mar-11

8.28%

13.12%

19.57%

59.03%

gilts

total moneymarket

instruments

equity

bond / cd

% total net asset


12/37

Corporate Bond Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide returns that exceed theinflation rate, while taking some creditrisk (through investments in corporatedebt instruments) and maintaining amoderate probability of negative returnin the short-term. The risk appetite islow to moderate.

target asset allocationBond Instruments: 100%

benchmark constructionCRISIL Composite Bond Index: 100%








last 2 year (CAGR*) 8.45% 5.24% 2.52% 2.53% 1.37% 0.09%



last 3 year (CAGR*) 9.31% 5.94% 3.49% 4.20% 1.24% 0.22%

M.Duration of debt portfolio: 3.4 yearsYTM of debt portfolio: 9.32%

fund risk profile


rating/1-yrbetabond/cd8.75% RELIANCE INDUSTRIES LTD NCD 07/05/202011.10% POWER FIN CORP LTD NCD 15/09/2013.12%TATA CAPITAL LTD NCD 05/03/2014 P/C 0503122% INDIAN HOTELS COMPANY LTD NCD 09/12/2014

9.30% HDFC LTD NCD 18/01/20218.95% INFOTEL BROADBAND SERV LTD NCD 15/09/208.93% NTPC LTD NCD 19/01/20218.40% ADITYA BIRLA NUVO LTD NCD 23/11/20128.40% L & T FINANCE LTD NCD 08/03/20138.23% SUNDARAM FINANCE LTD NCD 27/07/20129.4% NABARD SERIES XI Q NCD 30/03/20149.95% STATE BK INDIANCD16/03/2026CALL 16/03/21NOVA IV TRUST SR J LOC ITSL PTC 18/10/20139.95% IL&FS LTD NCD 14/02/20169.9% TATA SONS LTD NCD 24/02/20169.70% LIC HOUSING FINANCE LTD NCD 07/04/20139.50% HDFC LTD NCD 27/02/20139.40% LIC HOUSING FINANCE 08/12/20129.18% TATA SONS LTD NCD 23/11/20209.3% TATA SONS LTD NCD 24/12/20158.99% TATA SONS LTD NCD 07/06/20208.99% POWER FIN CORP LTD NCD 15/01/20218.90% SAIL 01/05/2019 CALL 0105148.68% NAT CAP REG PLAN NCD 18/8/19P/C18/08/168.64% POWER GRID CORPN LTD NCD 08/07/20232% TATA MOTORS LTD NCD 31/03/20148% RECL LTD NCD 05/08/2014

7.60% HDFC LTD NCD 08/12/20179.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/158.2% NATIONAL HSG BANK NCD 30/08/139.33% POWER GRID CORP LTD NCD 15/12/201311.45% RELIANCE INDUSTRIES LTD NCD 25/11/20138.90% POWER GRID CORP LTD NCD STRPP C 25/2/169.32% HDFC LTD NCD 17/12/20129.35% LIC HO FI LTD NCD 23/11/2014 P/C 2311128.8% RECL NCD 25/10/20208.97% TATA SONS LTD NCD 15/07/20209.47% POWER GRID CORPORATION NCD 31/03/201311.30% ACC LTD NCD 10/12/20139.30% POWER FIN CORP LTD NCD 12/03/201310.48% ULTRATECH CEMENTS LTD NCD 16/12/20139.50% SBI NCD 04/11/25 CALL/STEP-UP 05/11/2011.35% RECL LTD NCD 24/10/2013 P/C 24/10/2011total bond/cd

6.786.473.313.03

2.802.742.742.732.732.482.382.211.821.431.421.401.391.391.391.391.381.371.371.361.361.361.34

1.301.140.820.820.770.680.550.550.540.540.270.110.110.110.060.0469.98

AAAAAALAA+LAA+

AAAAAAAAALAA+AA+LAA+AAAAAAAAALAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

AAAAA+AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

gilts8.26% GOI (MD 02/08/2027)8.30% GOI (MD 02/07/2040)7.35% GOI (MD 22/06/2024)total gilts

5.531.381.298.20

Sovereignsovereignsovereignsovereign

sovereign


10,000

13,542

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

13,000

14,000

inception28-May-07

31-Mar-11

69.98%

21.82%

8.20%

bond / cd

total moneymarket

instruments

gilts

% total net asset


13/37

Pure Debt Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide steady investment returns achievedthrough 100% investment in debt securities,while maintaining moderate probability ofnegative returns in the short-term. The riskappetite is defined as moderate.

target asset allocationDebt Instruments: 100%









last 2 year (CAGR*) 8.16% 5.24% 2.80% 2.53% 1.13% 0.09%

last 3 year (CAGR*) 9.08% 5.94% 3.29% 4.20% 1.24% 0.22%


date of inception april, 2007

last 4 year (CAGR*) 8.96% 6.43% 2.91% 3.83% 1.36% 0.37%


rating/1-yr betabond/cd2% TATA MOTORS LTD NCD 31/03/20142% INDIAN HOTELS COMPANY LTD NCD 09/12/2014

9.70% LIC HOUSING FINANCE LTD NCD 07/04/20138.40% L & T FINANCE LTD NCD 08/03/20138.40% HDFC LTD NCD 08/12/201411.25% POWER FIN CORP LTD NCD 28/11/201810.90% RECL LTD NCD 30/09/201310.60% IRFC NCD 11/09/20189.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/159.30% HDFC LTD NCD 18/01/20219.18% TATA SONS LTD NCD 23/11/20209.40% LIC HOUSING FINANCE 08/12/20128.98% NAT CAP REG PLAN NCD 14/02/18P/C14/02/159.05% POWER FIN CORP LTD NCD 15/12/20208.95% INFOTEL BROADBAND SERV LTD NCD 15/09/208.93% NTPC LTD NCD 19/01/20219.05% POWER FIN CORP LTD NCD 15/12/20308.90% SAIL 01/05/2019 CALL 0105149.25% IDBI BANK LTD PERP NCD CALL/STEP-UP 29/01/209.3% TATA SONS LTD NCD 24/12/20158.97% TATA SONS LTD NCD 15/07/20208.90% POWER GRID CORP LTD NCD STRPP B 25/2/1512%TATA CAPITAL LTD NCD 05/03/2014 P/C 05031210% NABARD NCD SR IX 14/05/2012ANDHRA BANK CD 17/11/2011

INDIAN BANK CD 20/12/2011INDIAN OVERSEAS BANK CD 22/12/201111.45% RELIANCE INDUSTRIES LTD NCD 25/11/2013total bond/cd

4.634.59

4.234.144.103.282.832.762.332.132.112.102.102.092.082.082.082.081.971.351.251.040.860.420.40

0.400.400.1860.01

AAALAA+

AAAAA+AAAAAAAAAAAAAA+AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAALAA+AAA

PR1+

F1+A1+AAA

gilts8.26% GOI (MD 02/08/2027)8.53% TAMILNADU SDL (MD 27/10/2020)8.30% GOI (MD 02/07/2040)8.32% GOI (MD 02/08/2032)total gilts

7.544.232.102.0915.96

sovereignsovereign

sovereignsovereignsovereign


fund risk profile


10,000

13,461

5,000

7,000

9,000

11,000

13,000

15,000

inception9-Aug-07

31-Mar-11

60.01%

24.03%

15.96%

bond / cd

total moneymarket

instruments

gilts

% total net asset


14/37

Gilt Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide returns that exceed theinflation rate, without taking any creditrisk (sovereign risk only) andmaintaining a low probability of nega-tive return in the short- term. The riskappetite is low to moderate.

target asset allocationGovernment Securities: 100%

benchmark constructionI-Sec Composite Sovereign Bond Index:100%








last 2 year (CAGR*) 6.21% 5.43% 2.78% 4.25% 0.43% 0.10%



last 3 year (CAGR*) 6.52% 8.43% 3.33% 10.51% 0.46% 0.33%


rating/1-yr betagilts8.26% GOI 02/08/2027

8.08% GOI 02/08/20228.28% GOI 15/02/20328.30% GOI 02/07/20408.24% GOI 15/02/20277.49% GOI 2017 16.04.20178.39% GOI UTTAR PRADESH SDL 22/09/20208.33% GOI 2036 07/06/20369.85% GOI 2015 16.10.2015total gilts

30.93

16.8211.026.582.982.942.570.900.0274.76

sovereignsovereign

sovereignsovereignsovereignsovereignsovereignsovereignsovereign

total money market instruments 25 .24total net assets 100.00

fund risk profile


YTM of debt portfolio: 8.34%

10,000

12,197

5,000

6,000

7,0008,000

9,000

10,000

11,000

12,000

13,000

inception28-May-07

31-Mar-11

74.76%

25.24%

gilt

total moneymarket

instruments

% total net asset


15/37

Guaranteed Bond Fund Ifund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveTo achieve predictable investment return.This will be achieved through 100% invest-ments in debt securities where returns arelocked in through portfolio immunizationtechniques and use of rigorous Asset LiabilityManagement (ALM). The risk appetite is 'lowto moderate'.

target asset allocationDebt Instruments: 100%




growth of initial investment of Rs.10,000 in GRP-I



benchmarksharperatiolast 1 year 6.77% NA 1.58% NA 1.13% NA

since inception (CAGR*) 11.56% NA 3.42% NA 1.92% NAdate of inception december, 2008

last 2 year (CAGR*) 8.68% NA 2.96% NA 1.24% NA

portfolio As on Mar 31, 2011security % totalnet assets rating/1-yr betabond/cd9.15% NAT CAP REG PLAN NCD 18/02/2019P/C180216NOVA IV TRUST SR J LOC ITSL PTC 18/10/2013

2% TATA MOTORS LTD NCD 31/03/201410.48% ULTRATECH CEMENTS LTD NCD 16/12/201311.45% RELIANCE INDUSTRIES LTD NCD 25/11/20139.50% TATA COMMUNICATION LTD NCD 08/06/201411.30% ACC LTD NCD 10/12/201310.35% HDFC LTD SR E006 NCD 06/06/201711.35% RECL LTD NCD 24/10/2013 P/C 24/10/201111.25% POWER FIN CORP LTD NCD 28/11/20189.07% RECL 28/02/201811% POWER FIN CORPOARTION LTD NCD 15/09/201811.15% HDFC LTD NCD 06/08/201810.60% IRFC NCD 11/09/20188.90% POWER GRID CORP LTD NCD STRPP E 25/2/18total bond/cd

8.226.816.47

5.695.685.665.545.104.053.933.532.982.732.571.1770.13

AAAAAAAAA

AAAAAAAA+AAAAAAAAAAAAAAAAAAAAAAAAAAA


fund risk profile



10,000

12,468

5,000

7,000

9,000

11,000

13,000

inception12-Dec-08

31-Mar-11

70.13%

29.87%

bond/cd

total moneymarket

instruments

% total net asset


16/37

Money Market Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveTo achieve predictable investmentreturn. This will be achieved through100% investments in debt securitieswhere returns are locked in throughportfolio immunization techniques anduse of rigorous Asset LiabilityManagement (ALM). The risk appetiteis 'low to moderate'.

target asset allocationMoney Market Instruments : 100%

benchmark constructionCRISIL Liquid Bond Index: 100%




growth of initial investment of Rs.10,000 in AIP




last 2 year (CAGR*) 8.01% 4.94% 0.30% 0.62% 10.02% -0.09%



last 3 year (CAGR*) 8.88% 6.21% 0.46% 0.75% 8.45% 1.61%

portfolio As on Mar 31, 2011security % totalnet assets rating/1-yr betaother money market Instrument 100.00total net assets 100.00

fund risk profile


10,000

13,285

2,000

4,000

6,000

8,000

10,000

12,000

14,000

inception28-May-07

31-Mar-11

100%total money

marketinstruments

% total net asset


17/37

Capital Secure Fundfund performance As on Mar 31, 2011

fund objectiveMaintain the capital value of allcontributions (net of charges) and allinterest additions, at all times. The riskappetite is extremely low.


benchmark constructionYield on 182-day T.Bills : 100%




growth of initial investment of Rs.10,000 in






last 2 year (CAGR*) 7.52% 5.22% 0.31% 0.40% 8.02% 0.55%

last 3 year (CAGR*) 8.38% 6.01% 0.51% 0.53% 6.57% 1.93%last 4 year (CAGR*) 8.59% 6.43% 0.47% 0.50% 7.58% 2.85%

last 5 year (CAGR*) 8.30% 6.56% 0.47% 0.46% 7.09% 3.43%

portfolio As on Mar 31, 2011security % totalnet assets rating/1-yr betaother money market Instrument 100.00total net assets 100.00

fund risk profile


low low to

moderate

moderate moderate

to high

high

10,000

14,788

5,000

7,000

9,000

11,000

13,000

15,000

17,000

inception10-Feb-08

31-Mar-11

100%total money

marketinstruments

% total net asset


18/37

Equity Plus Fundfund performance As on Mar 31, 2011

fund objectiveProvide high real rate of return in thelong term through high exposure toequity investments, while recognizingthat there is significant probability ofnegative returns in the short term. Therisk appetite is high.

target asset allocationEquity Plus : 100%






benchmarksharperatiolast 1 year 9.56%

date of inception january, 2010

11.14% 17.81% 20.57% 0.26% 0.30%


portfolio As on Mar 31, 2011security % totalnet assets rating/1-yr beta


equityAUTO ANCILLARYEXIDE INDUSTRIES LTDBHARAT FORGE LTDAUTOMOBILESMAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMARUTI SUZUKI INDIA LTDTATA MOTORS LTD DVR SHARESBANKING & FINANCEICICI BANK LTDHDFC BANK LTDSTATE BANK OF INDIAAXIS BANK LTDHOUSING DEVELOPMENT FINANCE CORPORATIBANK OF BARODASHRIRAM TRANSPORT FINANCE COMPANY LTDPOWER FINANCE CORPORATION LTDINDUSIND BANK LTDCAP GOODS / ENGINEERINGBHARAT HEAVY ELECTRICALS LTDLARSEN & TOUBRO LTDCUMMINS INDIA LTDCROMPTON GREAVES LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDGRASIM INDUSTRIES LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDNCC LTDCONSUMER GOODSSINTEX INDUSTRIES LTDFMCGITC LTDASIAN PAINTS LTDHINDUSTAN UNILEVER LTDTATA GLOBAL BEVERAGES LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMEDIAHT MEDIA LTDMETALS

JINDAL STEEL AND POWER LTDSTERLITE INDUSTRIES INDIA LTD

JINDAL SAW LTDTATA STEEL LTDHINDUSTAN ZINC LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL INDIA LTDPHARMACEUTICALSAVENTIS PHARMA LTDLUPIN LTDDIVIS LABORATORIES LTDSUN PHARMACEUTICALS INDUSTRIES LTDAUROBINDO PHARMA LTDSTRIDES ARCOLABS LTDPOWERNTPC LTDORIENT GREEN POWER CO LTDAREVA T & D INDIA LTDRETAILPANTALOON RETAIL INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

2.131.091.044.362.230.960.640.5323.807.365.143.072.322.061.691.400.450.316.632.372.161.790.312.281.380.901.070.580.490.500.506.154.110.830.780.4311.407.093.370.940.540.545.461.401.221.200.970.671.151.1510.457.802.657.492.111.591.410.870.840.672.120.960.820.340.210.212.142.1487.88

0.541.11

1.140.680.741.45

1.491.001.151.311.110.700.510.881.16

0.811.100.450.73

0.480.49

1.691.40

1.00

0.730.430.530.76

0.760.840.77

0.38

1.111.510.941.381.11

0.84

1.030.24

0.200.630.520.600.971.10

0.620.750.71

1.24

0.71

fund risk profile

Fund Beta 0.90

low low to

moderate

moderate moderate

to high

high


87.88%

12.12%

equity

total money

marketinstruments

% total net asset


19/37

Highest Nav Guarantee Fundfund performance As on Mar 31, 2011

fund objectiveOffer guarantee of maturity value, inan equity oriented fund, at the highestNAV achieved during the period of theguarantee. The risk appetite ismoderate to high

target asset allocationEquity : 0 to 100%Debt : 0 to 100%

benchmark constructionSensex: 100%





benchmarksharperatiolast 1 year 8.10%


11.14% 14.46% 20.57% 0.21% 0.30%


portfolio As on Mar 31, 2011security % totalnet assets 1-yr betaequityAUTOMOBILESAUTOMOBILESTATA MOTORS LTD

MAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMARUTI SUZUKI INDIA LTDHERO HONDA MOTORS LTDBANKING & FINANCEICICI BANK LTDHOUSING DEVELOPMENT FINANCE CORPORATIONHDFC BANK LTDSTATE BANK OF INDIACAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDBHARAT HEAVY ELECTRICALS LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDFMCGITC LTDHINDUSTAN UNILEVER LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTD

METALSTATA STEEL LTD

JINDAL STEEL AND POWER LTDSTERLITE INDUSTRIES INDIA LTDHINDALCO INDUSTRIES LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDPHARMACEUTICALSCIPLA LTDPOWERNTPC LTDTATA POWER LTDTELECOMBHARTI AIRTEL LTDtotal equity

5.491.791.35

0.910.770.6717.396.273.953.753.425.593.831.760.470.475.484.171.319.835.642.961.235.371.701.241.231.208.576.492.080.710.712.271.340.931.701.7062.87

1.451.14

0.680.740.50

1.491.111.001.15

1.100.81

1.69

0.730.53

0.760.840.77

1.381.111.511.61

1.030.24

0.46

0.620.60

0.71

total net assets 100.00total money market instruments 37.13

fund risk profile

Fund Beta 0.99

low low tomoderate


high

growth of initial investment of Rs.10,000 in TIPS-I


10,000

11,260

5,0006,000

7,000

8,000

9,000

10,000

11,000

12,000

inception10-Feb-10

31-Mar-11

62.87%

37.13%

equity

total moneymarket

instruments

% total net asset


20/37

Highest NAV Advantage Fund-Series Ifund performance As on Mar 31, 2011

fund objectiveOffer guarantee of maturity value, inan equity oriented fund, at the highestNAV achieved during the period of theguarantee. The risk appetite ismoderate to high asset allocation as on Mar 31, 2011




benchmarksharperatiolast 1 year fund has not completed a period of one year since inceptiondate of inception september, 2010

portfolio As on Mar 31, 2011security % totalnet assets 1-yr betaequityAUTOMOBILESTATA MOTORS LTDMAHINDRA & MAHINDRA LTD

BAJAJ AUTO LTD NEWMARUTI SUZUKI INDIA LTDHERO HONDA MOTORS LTDBANKING & FINANCEICICI BANK LTDHOUSING DEVELOPMENT FINANCE CORPORATIONHDFC BANK LTDSTATE BANK OF INDIACAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDBHARAT HEAVY ELECTRICALS LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDFMCGITC LTDHINDUSTAN UNILEVER LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALSTATA STEEL LTD

JINDAL STEEL AND POWER LTDSTERLITE INDUSTRIES INDIA LTDHINDALCO INDUSTRIES LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDPHARMACEUTICALSCIPLA LTDPOWERNTPC LTDTATA POWER LTDTELECOMBHARTI AIRTEL LTDtotal equity

8.612.862.12

1.391.201.0426.359.286.105.745.238.615.982.630.720.728.576.502.0715.548.994.601.958.332.641.941.891.8613.199.913.281.101.103.572.111.462.832.8397.42

1.451.14

0.680.740.50

1.491.111.001.15

1.100.81

1.69

0.730.53

0.760.840.77

1.381.111.511.61

1.030.24

0.46

0.620.60

0.71

total net assets 100.00total money market instruments 2.58

fund risk profile

Fund Beta 0.99

low low tomoderate


high

growth of initial investment of Rs.10,000 in TIPS-I

target asset allocationEquity : 0 to 100%Debt : 0 to 100%

benchmark constructionSensex: 100%

10,000 9,851

5,000

6,000

7,000

8,000

9,000

10,000

11,000

inception9-Sep-10

31-Mar-11

97.42%

2.58%

equity

total moneymarketinstruments

% total net asset


21/37

New Pure Equity Fundfund performance As on Mar 31, 2011

low low tomoderate


high


target asset allocationPure Equity: 100%(*Investments only in sectors other than banks andnon-banking financial companies, breweries,distilleries, alcohol based chemicals, cigarettes,tobacco, entertainment, leather, sugar andhatcheries.)





growth of initial investment of Rs. 10,000



AUTOMOBILESMARUTI SUZUKI INDIA LTDMAHINDRA & MAHINDRA LTDBAJAJ AUTO LTD NEWMOTHERSON SUMI SYSTEMS LTDCAP GOODS / ENGINEERINGBHARAT HEAVY ELECTRICALS LTDLARSEN & TOUBRO LTDCUMMINS INDIA LTDCROMPTON GREAVES LTDVOLTAS LTDCEMENT & CEMENT PRODUCTSGRASIM INDUSTRIES LTDULTRATECH CEMENT LTDFMCGHINDUSTAN UNILEVER LTDASIAN PAINTS LTDGASGAIL (INDIA LTDITINFOSYS TECHNOLOGIES LTDTATA CONSULTANCY SERVICES LTDWIPRO LTDMETALS

JINDAL STEEL AND POWER LTDHINDALCO INDUSTRIES LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATIONPHARMACEUTICALSSUN PHARMACEUTICALS INDUSTRIESRANBAXY LABORATORIES LTDAVENTIS PHARMA LTDLUPIN LTDPOWERTATA POWER LTDNTPC LTDAREVA T & D INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

0.480.48

11.784.792.442.412.148.663.944.292.231.550.592.901.881.023.922.791.133.313.3116.499.053.593.855.672.992.682.302.3013.109.323.789.373.022.542.161.656.052.732.041.284.474.4788.50

0.54

0.741.140.680.62

0.811.100.450.730.86

0.490.48

0.530.43

0.59

0.760.840.77

1.111.61

0.84

1.030.24

0.600.900.200.63

0.600.620.71

0.71


Fund Beta 0.77

fund risk profile






10,000 10,477

1,0003,000

5,000

7,000

9,000

11,000

13,000

15,000

inception11-Jan-10

31-Mar-11


22/37

New Infrastructure Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments in Infrastructure and alliedsectors, while recognizing that there isa significant probability of negativereturns in the short term. The riskappetite is 'high'


benchmark constructionCNX Infrastructure Index: 100%






1-yrbeta

equityAUTO ANCILLARYBHARAT FORGE LTDEXIDE INDUSTRIES LTDAUTOMOBILESMOTHERSON SUMI SYSTEMS LTDCAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDBHARAT HEAVY ELECTRICALS LTDCROMPTON GREAVES LTDVOLTAS LTDALSTOM PROJECTS INDIA LTDIRB INFRASTRUCTURE DEVELOPERS LTDGREAVES COTTON LTDCEMENT & CEMENT PRODUCTSGRASIM INDUSTRIES LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDASHOKA BUILDCON LTDCONSUMER GOODSSINTEX INDUSTRIES LTDGASGAIL (INDIA LTDITWIPRO LTDINFOSYS TECHNOLOGIES LTDMETALSINDIAN METALS AND FERRO ALLOYS LTDTATA STEEL LTD

JINDAL STEEL AND POWER LTDOIL REFINERIESRELIANCE INDUSTRIES LTDPOWERNTPC LTDPOWER GRID CORPORATION OF INDIA LTDTATA POWER LTDAREVA T & D INDIA LTDORIENT GREEN POWER CO LTDRETAILPANTALOON RETAIL INDIA LTDTELECOMBHARTI AIRTEL LTDtotal equity

4.213.260.950.790.7922.487.617.342.991.701.171.000.673.523.527.235.341.890.930.933.343.344.752.502.2510.244.093.302.852.782.7821.027.694.213.793.491.840.640.648.258.2590.18

1.110.54

0.62

1.100.810.730.860.951.240.65

0.49

1.690.49

1.00

0.59

0.770.76

0.751.381.11

1.03

0.620.460.600.710.75

1.24

0.71


Fund Beta 0.85

fund risk profile

90.18%

9.82%

equity

total money

marketinstruments

% total net asset






10,000

8,803

5,000

6,000

7,000

8,000

9,000

10,000

11,000

inception11-Jan-10

31-Mar-11


23/37

New Energy Fundfund performance As on Mar 31, 2011

low low to

moderate

moderate moderate

to high

high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments in Energy and alliedsectors, while recognizing that there isa significant probability of negativereturns in the short term. The riskappetite is 'high'


benchmark constructionCNX Energy Index: 100%







BANKING & FINANCEPOWER FINANCE CORPORATION LTDCAP GOODS / ENGINEERINGLARSEN & TOUBRO LTDCUMMINS INDIA LTDBHARAT HEAVY ELECTRICALS LTDCROMPTON GREAVES LTDALSTOM PROJECTS INDIA LTDGASGAIL (INDIA LTDPETRONET LNG LTDMETALS

JINDAL STEEL AND POWER LTDOIL EXPLORATIONCAIRN INDIA LTDOIL REFINERIESRELIANCE INDUSTRIES LTDOIL & NATURAL GAS CORPORATION LTDOIL INDIA LTD

INDIAN OIL CORPORATION LTDPOWERNTPC LTDPOWER GRID CORPORATION OF INDIA LTDORIENT GREEN POWER CO LTDTATA POWER LTDtotal equity

2.382.38

1.031.0314.784.913.533.042.570.739.787.482.303.573.577.967.9627.928.277.797.09

4.7718.848.647.541.940.7286.26

0.54

0.88

1.100.450.810.730.95

0.591.24

1.11

0.84

1.030.240.24

0.48

0.620.460.750.60


Fund Beta 0.66

fund risk profile

86.26%

13.74%

equity

total moneymarket

instruments

% total net asset



benchmarksharperatiolast 1 year 4.87% 5.10% 15.52% 20.51% -0.01% 0.01%



10,000 9,820

5,000

6,000

7,000

8,000

9,000

10,000

11,000

inception11-Jan-10

31-Mar-11


24/37

New Mid Cap Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide high rate of return in the longterm through high exposure to equityinvestments in Midcap companieswhile recognizing that there issignificant probability of negativereturns in the short term. The riskappetite is 'high'


benchmark constructionNifty Midcap 50: 100%







BHARAT FORGE LTDAUTOMOBILESTATA MOTORS LTD DVR SHARESBANKING & FINANCEANDHRA BANK LTDSHRIRAM TRANSPORT FINANCE COMPANY LTDINDUSIND BANK LTDBANK OF BARODACAP GOODS / ENGINEERINGCUMMINS INDIA LTDGREAVES COTTON LTDVOLTAS LTDIRB INFRASTRUCTURE DEVELOPERS LTDCEMENT & CEMENT PRODUCTSULTRATECH CEMENT LTDCONSTRUCTION

JAIPRAKASH ASSOCIATES LTDCONSUMER GOODSSINTEX INDUSTRIES LTD

BALLARPUR INDUSTRIES LTDFERTILIZERSGUJARAT STATE FERTILIZERS & CHEMICALS LTDTATA CHEMICALS LTDFMCGTATA GLOBAL BEVERAGES LTDUNITED SPIRITS LTDGASPETRONET LNG LTDMEDIAHT MEDIA LTDMETALSINDIAN METALS AND FERRO ALLOYS LTD

JINDAL SAW LTDJSW STEEL LTDJINDAL STEEL AND POWER LTDTATA STEEL LTDPHARMACEUTICALSLUPIN LTD

AVENTIS PHARMA LTDSTRIDES ARCOLABS LTDAUROBINDO PHARMA LTDDIVIS LABORATORIES LTDPOWERAREVA T & D INDIA LTDRETAILPANTALOON RETAIL INDIA LTDtotal equity

4.384.16

4.382.082.088.653.442.451.641.1210.884.502.712.511.163.193.191.421.424.222.81

1.413.922.651.274.422.611.812.662.661.641.6413.743.713.633.311.861.2318.345.113.953.752.972.563.283.280.770.7783.59

0.54

1.11

1.45

0.940.511.160.70

0.450.650.861.24

0.48

1.69

1.00

0.88

0.500.84

0.761.14

1.24

0.38

0.750.941.721.111.38

0.630.201.100.970.52

0.71

1.24


Fund Beta 0.85

fund risk profile

92.01%

7.99%

equity

total money

marketinstruments

% total net asset






10,000

9,288

5,000

6,000

7,000

8,000

9,000

10,000

11,000

inception11-Jan-10

31-Mar-11


25/37

New Corporate Bond Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide returns that exceed theinflation rate, while taking some creditrisk (through investments in corporatedebt instruments) and maintaining amoderate probability of negative returnin the short-term. The risk appetite islow to moderate.

target asset allocationBond Instruments: 100%







fund risk profile


rating/1-yrbetabond/cd11.30% ACC LTD NCD 10/12/20137.60% HDFC LTD NCD 08/12/20179.32% HDFC LTD NCD 17/12/20129.50% HDFC LTD NCD 27/02/2013

9.30% HDFC LTD NCD 18/01/20212% INDIAN HOTELS COMPANY LTD NCD 09/12/20149.95% IL&FS LTD NCD 14/02/20168.95% INFOTEL BROADBAND SERV LTD NCD 15/09/208.40% ADITYA BIRLA NUVO LTD NCD 23/11/20129.40% LIC HOUSING FINANCE 08/12/20129.35% LIC HO FI LTD NCD 23/11/2014 P/C 2311129.70% LIC HOUSING FINANCE LTD NCD 07/04/20138.40% L & T FINANCE LTD NCD 08/03/20139.4% NABARD SERIES XI Q NCD 30/03/20148.68% NAT CAP REG PLAN NCD 18/8/19P/C18/08/168.2% NATIONAL HSG BANK NCD 30/08/138.93% NTPC LTD NCD 19/01/20219.47% POWER GRID CORPORATION NCD 31/03/20139.33% POWER GRID CORP LTD NCD 15/12/20138.90% POWER GRID CORP LTD NCD STRPP C 25/2/168.64% POWER GRID CORPN LTD NCD 08/07/202311.10% POWER FIN CORP LTD NCD 15/09/2013.9.30% POWER FIN CORP LTD NCD 12/03/20138.99% POWER FIN CORP LTD NCD 15/01/202110.90% RECL LTD NCD 30/09/20138% RECL LTD NCD 05/08/20148.8% RECL NCD 25/10/2020

11.45% RELIANCE INDUSTRIES LTD NCD 25/11/20138.75% RELIANCE INDUSTRIES LTD NCD 07/05/20208.90% SAIL 01/05/2019 CALL 0105149.50% SBI NCD 04/11/25 CALL/STEP-UP 05/11/209.95% STATE BK INDIANCD16/03/2026CALL 16/03/218.23% SUNDARAM FINANCE LTD NCD 27/07/20128.99% TATA SONS LTD NCD 07/06/20208.97% TATA SONS LTD NCD 15/07/20209.18% TATA SONS LTD NCD 23/11/20209.3% TATA SONS LTD NCD 24/12/20159.9% TATA SONS LTD NCD 24/02/201612%TATA CAPITAL LTD NCD 05/03/2014 P/C 0503129.7% UNITED PHOS LTD 9/4/17 CALL STEP 9/4/15NOVA IV TRUST SR J LOC ITSL PTC 18/10/2013total bond/cd

0.231.010.431.08

2.182.361.162.142.131.080.431.092.226.511.060.632.140.270.810.531.045.150.221.077.821.040.42

0.685.501.070.057.391.921.070.431.081.081.113.000.871.3972.89

AAAAAAAAAAAA

AAALAA+LAAAAAALAA+AAAAAAAAAAA+AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

AAAAAAAAAAAAAAALAA+AAAAAAAAAAAAAAALAA+AA+AAA

gilts8.26% GOI (MD 02/08/2027)8.30% GOI (MD 02/07/2040)7.35% GOI (MD 22/06/2024)total gilts

4.501.131.056.68

Sovereignsovereignsovereignsovereignsovereign


72.89%

20.43%

6.68%

bond / cd

total mon eymarket

instruments

gilts

% total net asset






10,00010,723

5,0006,0007,0008,0009,000

10,00011,00012,00013,00014,000

inception11-Jan-10

31-Mar-11


26/37

New Gilt Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveProvide returns that exceed theinflation rate, without taking any creditrisk (sovereign risk only) andmaintaining a low probability of nega-tive return in the short- term. The riskappetite is low to moderate.

target asset allocationGovernment Securities: 100%

benchmark constructionI-Sec Composite Sovereign Bond Index:100%






rating/1-yr betagilts8.26% GOI 02/08/2027

8.28% GOI 15/02/20328.30% GOI 02/07/20408.24% GOI 15/02/20277.49% GOI 2017 16.04.20178.39% GOI UTTAR PRADESH SDL 22/09/20208.33% GOI 2036 07/06/20369.85% GOI 2015 16.10.2015total gilts

18.66

9.815.862.652.622.290.800.0242.71

sovereignsovereign

sovereignsovereignsovereignsovereignsovereignsovereignsovereign


fund risk profile

M.Duration of debt portfolio: 4 years


42.71%

57.29%

gilt

total mon eymarket

instruments

% total net asset






10,000

10,758

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

inception11-Jan-10

31-Mar-11


27/37

New Money Market Fundfund performance As on Mar 31, 2011

low low tomoderate


high

fund objectiveTo achieve predictable investmentreturn. This will be achieved through100% investments in debt securitieswhere returns are locked in throughportfolio immunization techniques anduse of rigorous Asset LiabilityManagement (ALM). The risk appetiteis 'low to moderate'.


benchmark constructionCRISIL Liquid Bond Index: 100%




growth of initial investment of Rs.10,000 in AIP






portfolio

TheAnalystAPR2011ULIP

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