invest update_january 2011
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8/8/2019 Invest Update_January 2011
1/8
as on 31st December, 2010
For internal circulation only
nuary 2011 *Past performance is not necessarily indicative of future performance
Market Update
1
INDEX
BSE Sensex
S&P CNX Nifty
10 year-Benchmark
364 Days T-Bill
31-Dec-10 30-Nov-10 % Change
20509.09
6134.50
7.92%
7.43%
6.75%
19521.25
5862.70
8.06%
7.26%
6.67%
5.06%
4.64%
-1.74%
2.34%
1.20%Call Rates25
50
75
100
125
150
175
5.0
6.0
7.0
8.0
9.0
10 Yr G-Secs yield 5 year AAA Corporate Bond Spread
Percentage(%)
bps
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Debt:
Debt Outlook:
Indian economy has delivered a strong growth of 8.9% yoy in the 1HFY11 as against7.5% in the corresponding period last year. The growth has been pretty broad-basedwith robust pick-up in all the three sectors, namely, agriculture, industry and services.Given the current momentum, the economy is well poised to clock in an 8.75% GDPgrowth in FY11.
The Index of Industrial Production (IIP) bounced back smartly from the lows of 4.4% inSeptember 2010 to 10.8% in October 2010. The credit off-take which had dippedearlier has shown considerable strength in the last couple of months. This coupledwith slow pick-up in deposits and deferment of GoI spending has resulted in shortageof liquidity. The banking system has been in a deficit mode for over a period of sixmonths, with deficit averaging Rs.1 lakh crore, worst than the peak of the global creditcrisis in 2008. Such tight liquidity coupled with RBIs policy normalization process hasput tremendous pressure on the short-term rates with borrowing rates by banks &corporate rising by over 300bps during the course of the year.
Led by continuation of easy monetary policy in the West and announcement of freshrounds of easing by the Fed and BoJ, there has been a broad-based rally in globalcommodities including crude oil. Surge in crude oil poses macro risk to India on 3 key
fronts, namely, inflation, Current Account Deficit and fiscal deficit. Given the fact thatIndia imports 70% of its crude oil requirements and crude oil imports constitute asignificant 30% of the total merchandise imports, rising prices leads to widening ofIndias current account deficit. GoIs fiscal health also gets impacted due to surge inoil under-recoveries and, therefore, rising oil subsidy.
Concerned over inflation, RBI seems to be refraining from easing liquidity pressureconsiderably. However, to render some relief to the market, in its mid-quarterMonetary Policy review in December 2010, RBI cut SLR by 1% to 24% and announcedbuy back of dated-government securities (OMOs) worth Rs 48000 crores.
Indian economic outlook remain robust, not just for FY11 but next year as well with theeconomy likely to grow at over 8.25% in FY12. Unlike the past couple of quarters, weexpect the economic growth going forward to be fuelled by pick up in public & privatecapex. Despite robust medium-to-long-term economic outlook, the economy facescertain near-term macro headwinds, namely, high inflation & tight liquidity, which willimpact the RBIs policy trajectory and bond yields.
Surge in crude oil & other commodity prices, renewed rise in food prices anddomestic capacity constraints in an environment of robust demand growth willcontinue to put upward pressure on inflation which is likely to end FY11 at 7-7.5%. Weexpect inflationary pressures to continue next year as well with average inflation forFY12 at 7% levels. Due to this, we expect RBI to hike policy rates by another 50-75bpsin 2011, starting with a 25bps hike in repo rate in the upcoming Policy Meetingtowards the end of January 2011.
We expect system liquidity to remain in deficit mode in the 1H2011. However, withrising deposit rates and expected government spending, the deficit is expected toshrink from the current over Rs 1 lakh crore. Due to this, pressure on the shorter-end ofthe curve is likely to ease and we see 1 yr CD rates to ease to 8.25-8.5% in next 6-8months. However, the yield curve which has already flattened significantly is likely toremain flat in near-term. With an upside risk to fiscal consolidation in FY12 due torising crude oil prices, delay in subsidy & tax reforms and absence of one-timebonanza of 3G auction, GoI borrowing is likely to remain high next year as well. We
expect the 10 Yr G-Sec to remain range-bound around 7.75-8.00%. Although inflationwill remain high & RBI is expected to hike rates, the fact that majority of the rate hikes isbehind us & liquidity pressure will relatively ease, we feel that we are close to the top inbond yields. We expect the 10-Yr AAA Corporate Bond Spreads to rise to 100-125bpsin the coming year.
quity:
quity Outlook:
he month of December has usually been good for the markets, generating positiveturns in 26 out of the past 31 years. The BSE Sensex gained 5% in December and
nded the calendar year 2010 at an all time yearly high closing value of 20509,enerating 17.4% returns in 2010 on renewed FII inflows. During 2010, FIIs bought stockorth US$29bn in the cash market, an all time high, including US$8.5bn inflows in therimary market. Against this, domestic institutions sold US$4.6bn in the secondaryarket, of which domestic insurance companies bought US$1.4bn and mutual funds
old stock worth US$6bn. Led by extremely tight liquidity conditions, higher short termterest rates in the system and certain stock price manipulation news specific to mid-ap companies, mid-cap and small-cap indices underperformed their large-capounterparts by a wide margin wiping out their initial relative gains v/s the BSE Sensex inY2010.
ontinuation of ultra-loose global monetary policy, particularly by the Fed and BoJ,mproving US and core Europe (Germany, France, Netherlands) growth prospects androng economic momentum in EMs, is putting upward pressure on global commoditynd crude oil prices, such that crude is now ruling at $90 per barrel. The Governmentked petrol prices but deferred the hike in diesel and gas prices to avoid more back lashn inflation. The flux of FII flows this year has kept the BoP in surplus, however, the nature
capital inflows funding the deficit is not quite comforting. Rising share of non-FDIflows, especially FII flows in the total capital inflows do not augur well for the stability ofoP, as these flows are inherently very volatile.
dustrial Production data continued to be volatile in India, with October factory outputsing 10.8%, as demand for consumer durables (such as cars and electronic goods)nd power equipment grew strongly. November headline inflation dipped to 7.5% from5% in October due to favorable base effect but spiraling food inflation post unseasonalins, surge in oil & other commodity prices and rising wage bills poses risks to inflation
oing forward. Pick up in credit growth in an environment of sluggish deposit growth andgh Government cash balances with RBI is creating tight liquidity conditions in the
ystem. However, RBI is unlikely to ease liquidity substantially until it gets comfort on theflations trajectory.
he Indian economy has expanded by 8.9% Y-o-Y in the first six months of FY2010-11nd the countrys strong growth fundamentals, high saving and investment rates, fastbor force growth and the rapid expansion of the middle class will ensure a steadyerformance going forward. Despite Indias impressive growth recently, there are aumber of clouds hanging over the economy, including the stubbornly high inflation ratend the widening current account deficit. Growth will continue to be constrained byfrastructure bottlenecks, capacity constraints, rising input & interest costs and
hortages of skilled labor. High food prices which is hurting the aam aadmi and thecent spate of scandals including the big 2G license scam in 2008 has invited huge
olitical backlash for the centre. Hence, going forward, the government is likely tostrict its focus to targeted spending and piecemeal changes, rather than attempting to
mplement structural reforms that would have unlocked more of Indias vast economicotential. Given such a macroeconomic & political environment coupled with Indianquity market trading at fair valuations of 16x FY12E earnings, we expect Sensex toroadly consolidate in 2011, generating moderate returns of 10-12%. The markets willontinue to take cues from global events, commodity movements and domestic inflation
liquidity conditions and will start its rally afresh with positive news on these fronts.
(%) (bps)
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8/8/2019 Invest Update_January 2011
2/8*Past performance is not necessarily indicative of future performance
as on 31st December, 2010
nuary 2011 2
Assure Fund (100% Debt)
:
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
0.26%
0.79%
1.47%
3.53%
4.56%
-
4.46%
-
Assure
0.24%
0.97%
2.13%
5.94%
8.83%
11.47%
8.47%
9.37%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Know the fund better:Exposure in MMI has increased to 31.92% from 22.66% and in CorporateDebt decreased to 68.08% from 77.34% on a MOM basis.
Assure fund continues to be predominantly invested in highest ratedfixed income instruments.
: 16.08
: `138.96 cr
: 1.07: CRISIL Short Term Bond Index
: Devendra Singhvi
`
MMI31.92%
NCD68.08%
Assure BM
Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Income Advantage BM
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
AA-4.11%
AAA44.75%
AA+8.98%
AA9.81%
P1+/A1+28.56%
Sovereign3.78%
Key Parameters of Income Advantage Fund:NAV as on 31st December'10Assets held as on 31st December'10Maturity (in years)BenchmarkFund Manager
Income Advantage Fund (100% Debt)
: 13.73
: `235.53 cr
: 5.61: CRISIL Composite Bond Index
: Devendra Singhvi
`
MMI13.70%
NCD60.70%
G-Secs25.59%
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
0.26%
0.71%
1.30%
3.79%
-
-
-
-
Income Advantage
0.51%
1.23%
2.83%
7.93%
9.31%
15.79%
8.91%
14.37%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Know the fund better:Exposure in Corporate Debt has decreased to 60.70% from 64.18% and inG-Secs decreased to 25.59% from 27.37% while that in MMI has increasedto 13.70% from 8.45% on a MOM basis.
Income Advantage fund continues to be predominantly invested in highestrated fixed income instruments.
AAA47.54%
AA-8.64%
P1+/A1+9.40% AA
6.26%
Sovereign28.16%
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8/8/2019 Invest Update_January 2011
3/8
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
0.58%
0.69%
2.29%
4.81%
6.77%
-
6.56%
-
Protector
0.51%
0.76%
2.67%
6.48%
10.58%
12.81%
10.07%
8.66%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Protector Fund (0 - 10% Equity)
:
Equity
: 22.53
; `395.95 cr
: 5.00: Reliance Industries, Infosys, ICICI, L&T, ITC
: Banking, Oil & Gas, Capital Goods
: BSE 100 & CRISIL Composite Bond Index
: Sunil Kumar (Equity), Devendra Singhvi (Debt)
`
Equities9.17%
MMI15.09%
-Secs7.75%
NCD47.98%
AA2.94% AA+
4.45% P1+/A1+10.36%
AAA47.56%
Sovereign34.70%
Know the fund better:Exposure in Corporate Debt decreased to 47.98% from 49.50% and in MMIincreased to 15.09% from 13.52% on a MOM basis.
The average maturity of the fund has decreased to 5.00 years as against5.34 years in the previous months. Protector fund continues to bepredominantly invested in highest rated fixed income instruments.
Protector BM
Apr-04
Aug-04
Dec-04
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Know the fund better:Exposure in Equities has decreased to 18.61% from 19.24% while thatin MMI increased to 12.44% from 10.89% on MOM basis.
The average maturity of the fund has decreased to 4.92 years asagainst 5.18 years in the previous month. Builder fund continues to bepredominantly invested in highest rated fixed income instruments.
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
0.89%
0.66%
3.29%
5.82%
10.61%
-
10.10%
-
Builder
0.73%
0.77%
3.75%
8.00%
16.24%
18.58%
15.10%
11.17%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Builder Fund (10 - 20% Equity)
Key Parameters of Builder Fund :NAV as on 31st December'10Assets held as on 31st December'10Maturity (in years)Top Holdings in EquitySectoral PreferencesBenchmarkFund Manager
: 28.18
: `276.60 cr
: 4.92: Reliance Industries, Infosys, ICICI, L&T, ITC
: Banking, Oil & Gas, Capital Goods
: BSE 100 & CRISIL Composite Bond Index
: Sunil Kumar (Equity), Devendra Singhvi (Debt)
`
Builder BM
Apr-04
Aug-04
Dec-04
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
AAA49.87%
Sovereign29.81%
AA2.40%
AA-
1.91%
AA+
6.50%P1+/A1+9.52%
MMI12.44%
Equities18.61%
G-Secs21.83%
NCD47.13%
*Past performance is not necessarily indicative of future performance
as on 31st December, 2010
nuary 2011 3
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8/8/2019 Invest Update_January 2011
4/8*Past performance is not necessarily indicative of future performance4nuary 2011
as on 31st December, 2010
Enhancer Fund (20 - 35% Equity)
:
Equity
: 34.35
: `5949.39 cr
: 5.51: Reliance Industries, Infosys, ICICI, L&T, ITC
: Banking, Oil & Gas, Capital Goods
: BSE 100 & CRISIL Composite Bond Index
: Deven Sangoi (Equity), Ajit Kumar PPB (Debt)
`
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
1.18%
0.57%
4.16%
6.53%
14.38%
-
13.47%
-
Enhancer
1.04%
0.54%
4.56%
8.24%
19.86%
24.89%
18.20%
13.44%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
AAA41.30%
Sovereign
30.88%
AA+
8.84%
AA-2.02%
AA3.63%
P1+/A1+13.33%
xposure in Equities has decreased to 26.98% from 28.62% and in G-Secsecreased to 20.74% from 21.46% while that in MMI has increased to3.84% from 11.75% on a MOM basis.
he average maturity of the fund has decreased to 5.51 years as against77 years in the previous month. Enhancer fund continues to beedominantly invested in highest rated fixed income instruments.
G-Secs20.74%
NCD38.05%
Equities26.98%
MMI13.84%
SECURITISED DEBT0.38%
Enhancer BM
Apr-04
Aug-04
Dec-04
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Creator Fund (30 - 50% Equity)
Key Parameters of Creator Fund:NAV as on 31st December'10Assets held as on 31st December'10Maturity (in years)Top Holdings in EquitySectoral PreferencesBenchmarkFund Manager
: 27.57
: `322.33 cr
: 5.17: Reliance Industries, Infosys, ICICI, L&T, SBI
: Banking, Capital Goods, Oil & Gas
: BSE 100 & CRISIL Composite Bond Index
: Sameer Mistry (Equity), Devendra Singhvi (Debt)
`
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
1.81%
0.49%
6.16%
8.48%
22.88%
-
20.73%
-
Creator
1.51%
0.69%
7.38%
11.45%
35.10%
25.62%
30.46%
15.94%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Know the fund better:Exposure in Equities has decreased to 47.55% from 48.48% and inCorporate Debt decreased to 29.46% from 30.05% while that in MMI hasincreased to 8.15% from 6.55% on a MOM basis.
The average maturity of the fund has decreased to 5.17 years as against5.50 years in the previous month. Creator fund continues to be
predominantly invested in highest rated fixed income instruments.
MMI8.15%
NCD29.46%
Equities47.55% G-Secs
14.85%
Sovereign33.16%
AAA48.60%
AA-2.99%
AA+6.69%
P1+/A1+8.57%
Creator BM
Apr-04
Aug-04
Dec-04
Apr-05
Aug-05
Dec-05
Apr-06
Aug-06
Dec-06
Apr-07
Aug-07
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
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8/8/2019 Invest Update_January 2011
5/8*Past performance is not necessarily indicative of future performance5nuary 2011
as on 31st December, 2010
Magnifier Fund (50 - 90% Equity)
Equity
MMI14.51%
Equities84.76%
Magnifier BM
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
3.10%
0.37%
10.36%
12.11%
42.51%
-
36.02%
-
Magnifier
2.55%
0.45%
12.12%
16.04%
50.23%
31.69%
41.59%
18.91%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Exposure in Equities has decreased to 84.76% from 88.28% while that inMMI has increased to 14.51% from 10.97% on a MOM basis.
Magnifier fund continues to be predominantly invested in large capstocks and maintains a well diversified portfolio with investments madeacross more than 15 sectors.
: 30.24
: `1373.35 cr
: 0.32: Reliance Industries, Infosys, ICICI, L&T, SBI
: Banking, Capital Goods, Oil & Gas
: BSE 100 & CRISIL Liquid Fund Index
: Sameer Mistry (Equity), Devendra Singhvi (Debt)
`
NCD0.73%
Mar
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
-08
TOP 10 SECTORS
3.35%
4.38%
5.30%
5.45%
6.04%
6.44%
10.83%
12.38%
13.30%
20.31%
PHARMA
METAL
FINANCIAL SERVICES
AUTO
POWER
FMCG
IT
OIL & GAS
CAPITAL GOODS
BANKING
: 16.16
: `3034.81 cr
: Reliance Industries, Infosys, SBI, ICICI, L&T
: Banking, Oil & Gas, Capital Goods
: BSE 100 & CRISIL Liquid Fund Index
: Vikram Kotak
`
Maximiser Fund (80 - 100% Equity)
Key Parameters of Maximiser Fund :NAV as on 31st December'10Assets held as on 31st December'10Top Holdings in EquitySectoral PreferencesBenchmarkFund Manager
MMI12.54%
Equities87.46%
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
3.39%
0.23%
11.23%
12.99%
47.77%
11.19%
39.84%
9.87%
Maximiser
3.80%
-0.11%
11.89%
15.21%
56.88%
17.32%
46.21%
14.45%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Know the fund better:Exposure in Equities has decreased to 87.46% from 99.04% while that inMMI has increased to 12.54% from 0.96% on a MOM basis.
Maximiser fund is predominantly invested in large cap stocks andmaintains a well diversified portfolio with investments made across morethan 15 sectors.
Maximiser BM
Jun-07
Sep-07
Dec-07
Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-18
Sep-10
Dec-10
TOP 10 SECTORS
3.17%
4.15%
4.21%
5.72%
6.46%
6.48%
10.70%
11.34%
13.25%
19.61%
POWER
PHARMA
METAL
FMCG
AUTO
FINANCIAL SERVICES
IT
CAPITAL GOODS
OIL & GAS
BANKING
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8/8/2019 Invest Update_January 2011
6/8*Past performance is not necessarily indicative of future performance6nuary 2011
as on 31st December, 2010
Super 20 Fund (80-100% Equity)
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
4.62%
2.18%
14.58%
16.27%
-
28.11%
-
26.47%
Super 20
3.61%
2.09%
14.22%
16.53%
-
29.54%
-
27.74%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
: 14.39
: `84.48 cr
: Reliance Industries, Infosys, ICICI, SBI, L&T: Oil & Gas, Banking, IT
: Sensex & CRISIL Liquid Fund Index
: Sameer Mistry
`
Equities90.38%
MMI9.62%
Exposure in Equities has decreased to 90.38% from 94.55% while that inMMI has increased to 9.62% from 5.45% on a MOM basis.
Super 20 fund maintain a concentrated portfolio of 20 large caps stocks.
TOP 10 SECTORS
2.82%
3.91%
5.19%
5.59%5.83%
10.84%
12.11%
13.66%
18.66%
18.68%
POWER
OIL & GAS
CEMENT
TELECOM
NANCIAL SERVICES
AUTO
FMCG
CAPITAL GOODS
BANKING
IT
Equities88.22%
MMI11.78%
TOP 10 SECTORS
3.33%
4.60%
5.31%
5.48%
5.51%
5.52%
7.35%
11.62%
12.09%
13.56%
POWER
OIL & GAS
AUTO ANCILLIARY
CEMENT
FMCG
PHARMA
CAPITAL GOODS
BANKING
IT
Know the fund better:Exposure in Equities has decreased to 88.22% from 95.10% while that in
MMI has increased to 11.78% from 4.90% on a MOM basis.
Multiplier fund is predominantly invested in high quality mid cap stocksand maintains a well diversified portfolio with investments made acrossmore than 20 sectors.
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns BM
-0.55%
-3.18%
7.58%
16.07%
56.85%
4.82%
46.18%
4.58%
Multiplier
0.27%
-1.65%
8.82%
15.38%
81.55%
10.08%
62.20%
9.14%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
FINANCIAL SERVICES
Multiplier Fund (80 - 100% Equity)
Key Parameters of Multiplier Fund :NAV as on 31st December'10Assets held as on 31st December'10Top Holdings in EquitySectoral PreferencesBenchmarkFund Manager
: 13.20
: `488.85 cr
: Asian Paints, Ultratech Cement, ExideIndustries, Lupin, United Phosphorous
: Banking, Capital Goods, Pharma
: CNX Mid Cap & CRISIL Liquid Fund Index
: Deven Sangoi
`
Multiplier BM
Oct-07
Dec-07
Feb-08
Apr-08
Jun-08
Aug-08
Oct-08
Dec-08
Feb-09
Apr-09
Jun-09
Aug-09
Oct-09
Dec-09
Feb-10
Apr-10
Jun-10
Aug-10
Oct-10
Dec-10
Super 20 BM
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
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8/8/2019 Invest Update_January 2011
7/8
Platinum Plus II Fund (0 - 100% Equity)
Key Parameters of Platinum Plus II Fund :NAV as on 31st December'10Assets held as on 31st December'10Top Holdings in EquitySectoral PreferencesFund Manager
: 18.15
: `787.98 cr
: Infosys, Reliance Industries, L&T, ICICI, ITC: Banking, Oil & Gas, IT
: Deven Sangoi (Equity), Vikram Kotak (Debt)
`
Platinum Plus I Fund (0 - 100% Equity)
:
Equity
: 12.79
: `. 578.98 cr
: Infosys, Reliance Industries, ICICI, L&T, SBI: Banking, IT, Oil & Gas
: Sunil Kumar (Equity), Vikram Kotak (Debt)
`
as on 31st December, 2010
*Past performance is not necessarily indicative of future performance7nuary 2011
Know the fund better:Exposure in Equities has decreased to 88.38% from 96.32% while that inMMI has increased to 11.14% from 3.18% on a MOM basis.
Platinum Plus I fund continues to be predominantly invested in large capstocks and maintains a well diversified portfolio.
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
NCD0.48%
Equities88.38%
MMI11.14%
TOP 10 SECTORS
Platinum Plus I
3.08%
1.25%
14.64%
16.98%
40.31%
10.00%
34.39%
9.22%
3.00%
4.70%
5.88%
5.98%
6.31%
7.08%
10.80%
13.92%
14.00%
21.09%
PHARMA
METAL
POWER
AUTO
FINANCIAL SERVICES
FMCG
CAPITAL GOODS
IT
OIL & GAS
BANKING
Know the fund better:Exposure in Equities has decreased to 89.46% from 97.62% while that inMMI has increased to 8.01% from 0.56% on a MOM basis.
Platinum Plus II fund is predominantly invested in large cap stocks andmaintains a well diversified portfolio.
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns Platinum Plus II
3.27%
1.57%
15.08%
18.40%
51.39%
35.25%
42.40%
29.41%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
TOP 10 SECTORS
IT
3.99%
4.54%
5.41%
5.64%
5.74%
6.72%
12.04%
13.87%
15.58%
18.38%
PHARMA
POWER
METAL
FMCG
FINANCIAL SERVICES
AUTO
CAPITAL GOODS
OIL & GAS
BANKING
Equities89.46%
MMI8.01%
NCD2.53%
-
8/8/2019 Invest Update_January 2011
8/8
Equities87.67%
MMI10.05%
NCD2.28%
Platinum Plus III Fund (0-100% Equity)
:
Equity
: 13.72
: `600.88 cr
: Infosys, Reliance Industries, L&T, ICICI, ITC: Banking, Oil & Gas, IT
: Deven Sangoi (Equity), Vikram Kotak (Debt)
`
Equities84.97%
MMI13.70%
NCD1.34%
Platinum Plus IV Fund (0-100% Equity)
Key Parameters of Platinum Plus IV Fund :NAV as on 31st December'10Assets held as on 31st December'10Top Holdings in EquitySectoral PreferencesFund Manager
: 12.31
: ` 376.86 cr
: Reliance Industries, Infosys, L&T, ICICI, ITC: Banking, Oil & Gas, IT
: Deven Sangoi (Equity), Vikram Kotak (Debt)
`
as on 31st December, 2010
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Platinum Plus III
3.08%
1.51%
13.74%
15.94%
-
22.80%
-
21.39%
Know the fund better:Exposure in Equities has decreased to 87.67% from 95.84% while that inMMI has increased to 10.05% from 1.29% on a MOM basis.
Platinum Plus III fund continues to be predominantly invested in large capstocks and maintains a well diversified portfolio.
TOP 10 SECTORS
Fund Performance
Absolute Return
Annualized Return
CAGR
Returns Platinum Plus IV
2.92%
1.60%
15.15%
17.97%
-
17.90%
-
17.47%
Period
1 month
3 months
6 months
1 Year
2 Years
Since Inception
2 Years
Since Inception
Know the fund better:Exposure in Equities has decreased to 84.97% from 93.55% while that inMMI has increased to 13.70% from 6.45% on a MOM basis.
Platinum Plus IV fund is predominantly invested in large cap stocks andmaintains a well diversified portfolio.
TOP 10 SECTORS
PHARMA
FINANCIAL SERVICES 3.91%
3.96%
4.88%
5.53%
6.05%
7.16%
12.24%
13.79%
16.11%
18.45%
POWER
OIL & GAS
METAL
AUTO
FMCG
CAPITAL GOODS
BANKING
IT
document is intended for the use of the individual or entity to which it is addressed and fully contain information that is privileged, proprietary, confidential and exempt from disclosures. Wee reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Birla Sun Life Insurance Company Limited, norperson connected with it accepts any liability arising from the use of this document The recipients of this material should rely on their own investigations If you are not the intended recipient you are notified that any
strictly for internal purpose and is
Please e-mail your feedback / suggestions to us at bsli.investments@birlasunlife.com
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feedback / suggestions to us atbsli.investments@birlasunlife.com
Definitions:Annualized Return: The rate of return on an investment over a period other than one year (can be amonth, 2 months or two years) that is adjusted to give a comparable one-year return. E.g. a one-month return of 1% can be stated as an annualized rate of return of 12%, and a two-year Return of10% could be stated as an annualized rate of return of 5%.Absolute Return:The return that an asset achieves over a certain period of time. This measure looksat the appreciation or depreciation (expressed as a percentage) that the asset achieves over a givenperiod of time.CAGR: It is the average, year-on-year growth rate of an investment over a number of years. It iscalculated as:CAGR = ((Ending Value / Beginning Value)^(1 / n))- 1 where n is the period of time ofthe investment in years.
3.96%
4.55%
5.46%
5.64%
5.71%
6.77%12.14%
13.52%
15.59%
18.67%
METAL
POWER
AUTO
PHARMA
NANCIAL SERVICES
FMCGCAPITAL GOODS
IT
OIL & GAS
BANKING
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