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2

I would also like to take this opportunity to introduce our latest offering. As I write this note, it gives me immense pleasure to present the Motilal Oswal MOSt Focused Midcap 30 Fund (an open ended equity scheme). In an endeavor to benefit our investors from the midcap stocks on the Indian stock markets, we have launched this fund from February 3, 2014 to February 17, 2014. The objective of the fund is to achieve long term appreciation by investing in a maximum of 30 quality midcap companies having long term competitive advantages and potential for growth.

Currently, the Price to Earnings (PE) of CNX MidCap is 14X as compared to CNX Nifty which is at 16X*. This makes the CNX MidCap a more interesting and attractive investment option. As a fund house, we believe that there may be a plenty of midcap companies available in the markets which are under-researched but have high growth potentials*. The endeavor would be to identify and invest into companies which are in the transition stage from emergence to endurance phase of their business life. These kind of companies may attain or even exceed the desired growth albeit their management capabilities and multiple other factors. Longer term investments in such companies may lead to wealth creation in ones portfolio.

As always, I would be happy to take your feedback. So, incase you wish to share your views, please feel free to write to me at [email protected]

Aashish P SomaiyaaManaging Director and CEOMotilal Oswal Asset Management Company.

*Data Source: Bloomberg and Internal Research, Data as on 31st Dec 2013.

Motilal Oswal MOSt Shares M50 ETF (MOSt Shares M50)

Name of theScheme

This product is suitable for investorswho are seeking*

• Return that corresponds generally to the performance of the MOSt 50 Basket (Underlying Basket), subject to tracking error

• Investment in equity securities of CNX Nifty Index

• High risk (BROWN)

Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares Midcap 100)

• Return that corresponds generally to the performance of the CNX Midcap 100 Index, subject to tracking error

• Investment in equity securities of CNX Midcap Index


Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100)

• Return that corresponds generally to the performance of the NASDAQ 100 Index, subject to tracking error

• Investment in equity securities of NASDAQ 100 Index


Motilal Oswal MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund)

Name of theScheme

This product is suitable for investorswho are seeking*

• Long term capital appreciation• Investment in securities issued by the

Cent ra l Government and S tate Government.

• Low risk (BLUE)

Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares)

• Return by investing in Gold Bullion, subject to tracking error over long term

• Investment in Gold Bullion• High risk (BROWN)

Motilal Oswal MOSt Focused 25 Fund (MOSt Focused 25 Fund)

• Return by investing in upto 25 companies with long term sustainable competitive advantage and growth potential

• Investment in Equity and equity related instruments subject to overall limit of 25 companies


Product Suitability

RR

00

00

4_4

01

12

_01

0

Note: Risk is represented as

(BLUE) investors understand that their principal will be at low risk

(YELLOW) investors understand that their principal will be at medium risk

(BROWN) investors understand that their principal will be at high risk

*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

3

Motilal Oswal

MOSt Ultra Short

Term Bond Fund

•moderate levels of risk

• Investment in debt securities and money market securities with average maturity less than equal to 12 months

• Medium risk (YELLOW)

Optimal returns consistent with

Risk Disclosure and Disclaimer

Statutory Details: Constitution: Motilal Oswal Mutual Fund has been set up as a trust under the Indian Trust Act, 1882. Trustee: Motilal Oswal Trustee Company Ltd. Investment Manager: Motilal Oswal Asset

Management Company Ltd. Sponsor: Motilal Oswal Securities Ltd. Risk Factors: (1) All Mutual Funds and securities investments are subject to market risks and there can be no assurance that the Scheme's

objectives will be achieved (2) As the price / value / interest rates of the securities in which the Scheme invests fluctuates, the Net Asset Value (NAV) of units issued under the Scheme may go up or down

depending upon the factors and forces affecting the securities market (3) Past performance of the Sponsor/AMC/Mutual Fund and its affiliates does not indicate the future performance of the Scheme and

may not provide a basis of comparison with other investments (4) Motilal Oswal MOSt Shares M50 ETF (MOSt Shares M50), Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares Midcap 100), Motilal

Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ100), Motilal Oswal MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund), Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares), Motilal Oswal

MOSt Focused 25 Fund and Motilal Oswal MOSt Ultra Short Term Bond Fund are the name of the Schemes and does not in any manner indicate either the quality of the Schemes, its future prospects and

returns. Investors are therefore urged to study the terms of offer carefully and consult their Investment Advisor before they invest in the Scheme (5) The Sponsor is not responsible or liable for any loss or

shortfall resulting from the operation of the Mutual Fund beyond the initial contribution made by it of an amount of Rs. 1 Lac towards setting up of the Mutual Fund (6) The present Schemes are not

guaranteed or assured return Schemes. Mutual Fund investments are subject to market risks, read all scheme related documents carefully

4

Motilal Oswal Mutual Fund

MOSl Focused Fund25

Tata Consultancy Services Limited

Tech Mahindra Limited

HDFC Bank Limited

ITC Limited

Container Corporation of India Limited

Divi's Laboratories Limited

Tata Motors Limited

Page Industries Limited

Housing Development Finance Corporation Limited

Bata India Limited

Idea Cellular Limited

Sundaram Finance Limited

Pidilite Industries Limited

Cairn India Limited

Infosys Limited

Larsen & Toubro Limited

Kotak Mahindra Bank Limited

Hero MotoCorp Limited

Maruti Suzuki India Limited

Oil & Natural Gas Corporation Limited

Cummins India Limited

8.82%

7.21%

7.14%

6.00%

5.58%

5.38%

4.79%

4.71%

4.56%

4.48%

4.47%

4.40%

4.26%

4.12%

4.09%

3.55%

3.49%

2.58%

2.37%

2.30%

2.27%

(Data as on 31st January 2014)

Scrip

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

Sr. No. Weightage in F25

Holdings

Fund Manager Mr. Taher Badshah

Fund Manager

ExperienceHe has 18 years of experience in fund management and investment research. He has been managing this fund since inception.

13 May 2013Date of Allotment

Scheme Details

Quarterly AAUM (Dec. 31st, 2013)

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

Continuous Offer

Motilal Oswal MOSt Focused 25 Fund

An Open Ended Equity Scheme

The investment objective of the Scheme is to achieve long term capital appreciation by investing in upto 25 companies with long term sustainable competitive advantage and growth potential. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

CNX Nifty Index

Minimum Application Amount : `5,000/- and in multiples of ̀ 1 /- thereafter.

Additional Application Amount : `1,000/- and in multiples of ̀ 1/- thereafter.

Nil

About the Scheme

Entry / Exit Load

`10.1181Growth Plan

Direct Dividend Plan

`10.1181Dividend Plan

`10.2343

NAVDirect Growth Plan `10.2343

`96.50 (` crores)

Standard Deviation# 4.07 (per month)

-0.14 (per month)

0.24

0.80

0.82

Sharpe Ratio

Portfolio Turnover Ratio

Beta*

R-Squared*

Total Expense Ratio^

Regular Plan 2.50% p.a.

1.00% p.a.Direct Plan

^Since inception till date, excluding applicable taxes. (Data as on 31st January 2014)

Returns for MOSt Focused 25 Fund are not provided because the scheme has not completed 1 year.

(Data as on 31st January 2014) Industry classification as recommended by AMFI

Industry Allocation

(An open ended Equity Scheme)

*Against the benchmark CNX Nifty . # Risk free returns based on 365-days T-bill cut-off of 8.67% as on the last

auction. (Data as on 31st January 2014)

Index

3.43%

2.27%

3.55%

4.26%

4.47%

4.48%

4.71%

5.38%

5.58%

6.00%

6.42%

8.96%

9.74%

10.63%

20.12%

Cash & Equivalent

Industrial Products

Construction Project

Chemicals

Telecom - Services

Consumer Durables

Textile Products

Pharmaceuticals

Transportation

Consumer Non Durables

Oil

Finance

Auto

Banks

Software

5


Mosl ULTRA SHORT TERM BOND FUND

Security Issuer % of holding(as on 31.12.13)

Indusind Bank CD

PUNJAB NATIONAL BANK CD

CANARA BANK CD

Indian Bank LTD CD

STATE BANK OF HYDERABAD CD

Reverse REPO/Cash/Others

Indusind Bank

Punjab National Bank

Canara Bank

Indian Bank

State Bank of Hyderabad

16.50

16.58

16.51

15.80

24.27

9.66


Portfolio

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

ContinuousOffer

Motilal Oswal MOSt Ultra Short Term Bond Fund

An Open Ended Debt Scheme

The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

CRISIL Short Term Bond Fund Index.

Minimum Application Amount : `5,000/- and in multiples of `1/- thereafter.

Additional Application Amount : `1000/- and in multiples of `1/- thereafter.

About the SchemeDate of Allotment

Scheme Details

NAV Direct Plan- Growth

Direct Plan-Daily Dividend Option

Direct Plan-Fortnightly Dividend Option

Regular Plan- Growth

Regular Plan-Daily Dividend Option

Regular Plan-Fortnightly Dividend Option

Regular Plan-Monthly Dividend Plan

Regular Plan-Weekly Dividend Option

`10.3606

`10.0000

`10.0038

`10.3289

`10.0004

`10.0030

`10.0615

`10.0029

6 September 2013

Entry / Exit Load Nil

`53.89 (` crores)Quarterly AAUM (Dec. 31st, 2013)

Total Expense Ratio^Regular Plan

Direct Plan

1.00% p.a.

0.25% p.a.

Fund Manager

Experience He has over 6 years of experience in the Financial Services Industry.He has been managing this fund since inception.

Mr. Abhiroop Mukherjee

Fund Manager

Quantitative Indicators Average Maturity *

YTM

(Data as on 31st January 2014) *For USTBF Modified Duration is equal to its Average maturity.

0.24 Years / 87.24 days

9.0193%


(An open ended Debt Scheme)

Returns for MOSt Ultra Short Term Bond Fund are not provided because the scheme has not completed 1 year.

NOTE : Mr. Abhiroop Mukherjee is also fund manager for MOSt 10 Year Gilt Fund. The returns for which are on page no. 9.

^Year-to-date, excluding applicable taxes.


Larsen & Toubro Limited

Jaiprakash Associates Limited

Hindalco Industries Limited

Mahindra & Mahindra Limited

Housing Development Finance Corporation Limited

DLF Limited

Infosys Limited

Tata Power Company Limited

Bharat Petroleum Corporation Limited

Axis Bank Limited

8.11%

7.12%

6.27%

5.02%

4.79%

4.66%

4.35%

4.20%

4.03%

3.84%


Scrip

1

2

3

4

5

6

7

8

9

10

Sr. No. Weightagein M50^

Top 10 Holdings

^MOSt Shares M50

Industry Allocation

NOTE : Mr. Anubhav Srivastava has been appointed as the fund manager for this scheme w.e.f. January 20, 2014 vide addendum dated January 17, 2014. He is also the fund manager for MOSt Shares Midcap 100, MOSt Shares NASDAQ 100 and MOSt Gold Shares, the performance of which is mentioned on page no. 7, 8 and 10 respectively.

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

ContinuousOffer

Motilal Oswal MOSt Shares M50 ETF (MOSt Shares M50)

An open ended Exchange Traded Fund

The Scheme seeks investment return that corresponds

(before fees and expenses) generally to the Performance

of the MOSt 50 Basket (Underlying Basket), subject to

tracking error. However, there can be no assurance or

guarantee that the investment objective of the Scheme

would be achieved.

MOSt 50 Basket and CNX Nifty Index

On NSE: Investors can buy/sell units of the Scheme in

round lot of 1 unit and in multiples thereof.

Directly with the Mutual Fund: Investors can buy/sell units

of the Scheme only in creation unit size i.e. 50,000 units

and in multiples thereof.

About the Scheme

M50

MOSTM50

M50.NS

ISIN Code

Entry Load

Exit Load

INF247L01015

NIL

NIL

NSE & BSE Symbol

Bloomberg Code

Reuters Code

*Against the benchmark MOSt 50 Basket ^Year-to-date, excluding applicable taxes. #Risk free returns based on 365-

days T-bill cut-off of 8.67% as on the last auction. (Data as on 31st January 2014)

28 July 2010

`80.3336

`43.19 (` crores)

0.31% (Annualised)

1.25% p.a.

21.10 (Annualised)

-0.37 (Annualised)

0.72

Date of Allotment

Scheme Details

NAV - Growth Plan

Tracking Error*


Standard Deviation

Sharpe Ratio#


MOSt 50

1.00

1.00

CNX Nifty

1.10

0.94

Beta

R-Squared


Fund Manager He has 18 years of experience in the Financial Services Industry.Mr. Anubhav Srivastava

Fund Manager

Experience

6


(An open ended Exchange Traded Fund)

Date

Scheme

MOSt Shares M50 PerformanceBenchmark Current Value of Standard Investment of Rs. 10,000/-

CNX NiftyReturns

MOSt 50 BasketReturns

MOSt Shares M50Returns (INR) ^

CNX NiftyReturns (INR)

MOSt 50 BasketReturns (INR)

3.69%

7.06%

34.09%

-29.36%

Since Inception till Dec. 31, 2013

Dec. 31, 2012 to Dec. 31, 2013

Dec. 31, 2011 to Dec. 31, 2012

Dec. 31, 2010 to Dec. 31, 2011

4.92%

8.51%

35.22%

-28.86%

4.63%

6.76%

27.70%

-24.62%

11,322 11,790

N. A.

11,679

NAV per unit : Rs 88.3485 (Dec 31, 2013); Rs 82.5254 (Dec 31, 2012); Rs 61.5442 (Dec 31, 2011); Rs 87.1199 (Dec 31, 2010); Rs 78.0343 (July 28, 2010)Returns for one year are absolute. Returns for more than one year are compounded annualized; Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns.Additional benchmark for the scheme is CNX Nifty Index.

MOSt Shares M50Returns^

^Past performance may or may not be sustained in the future.

0.47%

0.57%

0.65%

0.68%

1.19%

1.32%

1.68%

2.96%

4.61%

4.70%

4.77%

6.27%

6.60%

8.11%

8.22%

8.39%

11.78%

13.18%

13.85%

Cash & Equivalent

Telecom - Services

Gas

Industrial Capital Goods

Oil

Ferrous Metals


Pharmaceuticals

Petroleum Products

Cement

Minerals/Mining

Non - Ferrous Metals

Software


Power

Finance

Construction

Auto

Banks

7

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

ContinuousOffer

Motilal Oswal MOSt Shares Midcap 100 ETF

An open ended Index Exchange Traded Fund


(before fees and expenses) to the performance of CNX

Midcap Index (Underlying Index), subject to tracking

error. However, there can be no assurance or guarantee

that the investment objective of the Scheme would be

achieved.

CNX Midcap Index

On NSE/BSE: Investors can buy/sell units of the Scheme in

round lot of 1 unit and in multiples thereof.


of the Scheme only in creation unit size i.e. 2,50,000 units

and in multiples thereafter.

(MOSt Shares Midcap100)

About the Scheme31 January 2011

`7.8096

`34.90(` crores)

0.42% (Annualised)

1.00% p.a.

21.45 (Annualised)

-0.43 (Annualised)

0.87

Date of Allotment

Scheme Details

M100

MOST100

M100.NS

ISIN Code

Entry Load

Exit Load

INF247L01023

NIL

NIL

NSE / BSE Symbol

Bloomberg Code

Reuters Code

NAV - Growth Plan


Industry Allocation

Divi's Laboratories Limited

Reliance Communications Limited

Glenmark Pharmaceuticals Limited

Adani Ports and Special Economic Zone Limited

Apollo Hospitals Enterprise Limited

Oracle Financial Services Software Limited

Mahindra & Mahindra Financial Services Limited

Adani Enterprises Limited

Oil India Limited

Aurobindo Pharma Limited

2.37%

2.33%

2.22%

2.15%

2.01%

1.91%

1.87%

1.86%

1.83%

1.76%


Scrip

1

2

3

4

5

6

7

8

9

10

Sr. No. Weightage inMidcap 100^

Top 10 Holdings

^MOSt Shares Midcap 100

Tracking Error*


Standard Deviation

Sharpe Ratio#


*Against the benchmark CNX Midcap ^Year-to-date. # Risk free returns based on 365-days T-bill

cut-off of 8.67% as on the last auction. (Data as on 31st January 2014)

Total Return Index


Fund Manager He has 18 years of experience in the Financial Services Industry. Mr. Anubhav Srivastava

Fund Manager

Experience

NOTE : Mr. Anubhav Srivastava has been appointed as the fund manager for this scheme w.e.f. January 20, 2014 vide addendum dated January 17, 2014. He is also the fund manager for MOSt Shares M50, MOSt Shares NASDAQ 100 and MOSt Gold Shares, the performance of which is mentioned on page no. 6, 8 and 10 respectively.

Beta*

R-Squared*

1.00

1.00


IMidcap 100(An open ended Index Exchange Traded Fund)

Date

Scheme

MOSt Shares Midcap 100 Performance

Benchmark Additional Benchmark

MOSt Shares Midcap100 Returns^ CNX Midcap Returns CNX Nifty Returns

-4.00%

40.32%

-5.10%

39.16%

6.76%

27.70%

Returns for one year are absolute. Returns for more than one year are compounded annualized; Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns.

Additonal Benchmark for equity scheme is CNX Nifty Index.

December 31, 2012 to December 31, 2013



0.24%

0.48%

0.83%

0.86%

0.92%

1.31%

1.32%

1.43%

1.69%

1.69%

1.70%

1.83%

1.87%

1.91%

1.99%

1.99%

2.01%

2.33%

2.34%

2.36%

2.49%

3.67%

4.53%

5.21%

5.35%

6.16%

8.21%

10.23%

10.23%

12.82%

Cash & Equivalent

Construction

Hotels

Non - Ferrous Metals

Telecom - Equipment & Accessories

Chemicals


Media & Entertainment

Services

Pesticides

Industrial Products

Oil

Gas

Auto

Trading

Consumer Durables

Healthcare Services

Telecom - Services

Petroleum Products

Ferrous Metals

Cement

Software

Transportation

Power

Industrial Capital Goods

Auto Ancillaries

Finance


Banks

Pharmaceuticals

8

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

ContinuousOffer

Motilal Oswal MOSt Shares NASDAQ-100 ETF(MOSt Shares NASDAQ 100)

An open ended Index Exchange Traded Fund


(before fees and expenses) generally to the performance

of the NASDAQ-100 Index, subject to tracking error.

However, there can be no assurance or guarantee that the

investment objective of the Scheme would be achieved.

NASDAQ-100 Index

On NSE & BSE: Investors can buy/sell units of the Scheme

in round lot of 1 unit and in multiples thereof.


of the Scheme only in creation unit size i.e. 100,000 units

and in multiples thereafter.

About the Scheme29 March 2011

`220.5479

`83.59 (` crores)

0.41% (Annualised)

1.00% p.a.

12.92 (Annualised)

1.69 (Annualised)

0.24

Date of Allotment

Scheme Details

N100

MOSTNDX

N100.NS or N100.BO

ISIN Code

Entry Load

Exit Load

INF247L01031

NIL

NIL

NSE & BSE Symbol

Bloomberg Code

Reuters Code

NAV - Growth Plan

Tracking Error*


Standard Deviation

Sharpe Ratio#


*Against the benchmark with NASDAQ 100 ^Year-to-date. # Risk free returns based on 365-days T-

bill cut-off of 8.67% as on the last auction. (Data as on 31st January 2014)

Total Return Index


Fund Manager He has 18 years of experience in the Financial Services Industry. Mr. Anubhav Srivastava

Fund Manager

Experience

NOTE : Mr. Anubhav Srivastava has been appointed as the fund manager for this scheme w.e.f. January 20, 2014 vide addendum dated January 17, 2014. He is also the fund manager for MOSt Shares M50, MOSt Shares Midcap 100 and MOSt Gold Shares, the performance of which is mentioned on page no. 6, 7 and 10 respectively.

Beta*

R-Squared*

1.00

1.00

(Data as on 31st January 2014) Industry Classification is as per Global Industry Classification Standard (GICS).

Apple

Google

Microsoft Corporation

Amazon.com

Gilead Sciences

QUALCOMM

Intel Corporation

Cisco Systems

Comcast Corporation

Facebook

11.30%

7.89%

7.74%

4.63%

3.14%

3.11%

3.09%

2.95%

2.91%

2.88%


Scrip

1

2

3

4

5

6

7

8

9

10

Sr. No. Weightage inN100^

Top 10 Holdings

^MOSt Shares NASDAQ 100

Industry Allocation

II


nasdaq 100 (An open ended Index Exchange Traded Fund)

Date

Scheme

MOSt Shares NASDAQ 100 Performance

Benchmark Additional Benchmark

MOSt Shares Returns^NASDAQ-100 NASDAQ-100 Index (In INR) CNX Nifty Returns

54.86%

17.44%

54.77%

17.51%

6.76%

27.70%

Returns for one year are absolute. Returns for more than one year are compounded annualized; Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns.

Additonal Benchmark for equity scheme is CNX Nifty Index.




0.14%

0.24%

0.25%

0.25%0.26%

0.27%

0.28%

0.29%

0.30%

0.30%

0.37%

0.43%

0.48%

0.52%

0.56%

0.59%0.70%

0.84%

0.92%

1.17%

1.52%

1.73%

1.87%

2.24%

2.65%

3.11%

6.86%

8.17%8.82%

9.84%

18.78%

25.25%

Cash & Equivalent

Specialty Retail

Commercial & Professional Services

Internet & Catalog Retail

Health Care Providers & Servic

Professional Services

Materials

Beverages

Food Beverages & Tobacco

Semiconductors & Semiconductor …

Hotels Restaurants & Leisure

Transportation

Life Sciences Tools & ServicesComputers & Peripherals

AutoMobile

Consumer Durables & Apparel

Wireless Telecommunication Services

Capital Goods

Telecommunication Services

Semiconductors

Biotechnology

Food & Staples Retailing

Consumer Services

Food Products

Health Care Equipment & ServicesInternet Software & Services

Semiconductors & Semiconductor

Media

Retailing

Pharmaceuticals, Biotechnology

Technology Hardware & Equipment

Software & Services

9

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

ContinuousOffer

Motilal Oswal MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund)

CRISIL 10 Year Gilt Index

An Open Ended Gilt Scheme

The primary investment objective of the scheme is to generate credit risk - free return by investing in a portfolio of securities issued by the Central Government & State Government. However there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Minimum Application Amount : ̀ 10,000 /- and in multiples of 1 /- thereafter.

Additional Application Amount : 1000 /- and in multiples of 1/- thereafter.

`

``

About the Scheme

Load Entry - Nil; Exit - 0.25% if redeemed within 30 days.*

^Year-to-date.(Data as on 31st January 2014)

Past performance may or may not be sustained in the future; Dividend distribution is subject to availability & adequacy of distributable surplus. After the payment of dividend, the per unit NAV falls to the extent of the dividend payout and distribution taxes, if any. Performance of dividend plan/option would be net of applicable statutory levy, if any. * NAV on the 1st transaction day after Record Date, which includes the mark to market impact also.

Dividend HistoryRecord DateDividend Option

Dividend perUnit (Rs.)

Cum DividendNAV

Ex DividendNAV*

10.2397 10.0873May 17, 2012 0.1930

January 8, 2013 0.5850 10.8017 10.2259

Security Issuer % of holding

97.69

2.31

8.83% GOI 2023

Reverse REPO/Cash/Others

Government of India


Portfolio

Quantitative Indicators Average Maturity

Modified Duration

YTM


9.59 Years

6.23 Years

8.7533%

12 December 2011Date of Allotment

Scheme Details

`10.7485Growth Plan

Direct Dividend Plan

`9.9761

Quarterly AAUM (Dec. 31st, 2013) `66.51 (` crores)

Dividend Plan

`10.0516

NAV Direct Growth Plan `10.7589

Total Expense Ratio^Regular Plan 0.99% p.a.

0.91% p.a.Direct Plan

gilt fundMotilal Oswal Mutual Fund

Mosl10 Year(An open ended Gilt Scheme)

Fund Manager

Experience He has over 6 year experience in the Financial Services Industry.He has been managing this fund since inception.

Mr. Abhiroop Mukherjee

Fund ManagerReturns for one year are absolute, ^ Past performance may or may not be sustained in the future

*The exit load structure has been changed from 0.50% to 0.25% w.e.f. March 14, 2013 vide addendum dated March 13, 2013.

Period Scheme

Performance

Benchmark

-2.24%December 31 2012 toDecember 31 2013

-2.05%

MOSt 10 Year Gilt FundReturns^

CRISIL 10 Year GiltIndex

NOTE : Mr. is also fund manager for Motilal Oswal MOSt Ultra Short TermBond Fund. Past Performance of the said scheme has not been provided as the scheme has notcompleted 1 year.

Abhiroop Mukherjee

10


Mosl GOLD SHAREs(An open ended Exchange Traded Fund)

Fund Manager

Experience He has 18 years of experience in the Financial Services Industry.

Scheme Name

Type of Scheme

InvestmentObjective

Benchmark

ContinuousOffer

Motilal Oswal MOSt Shares Gold ETF

An Open Ended Exchange Traded Fund

The Investment objective of the scheme is to provide return by investing in Gold Bullion. The performance of the fund will be benchmarked to the Spot Gold Price. However, the performance of the schame may differ from that of the index due to tracking error. There can be no assurance or gurantee of the investment objective of the scheme would be achived.

Spot Domestic Gold Price

On NSE & BSE: Investor can buy/sell units in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund : Investor can buy / sell units of the scheme in creation of Unit Size.

About the Scheme22 March 2012

`2712.8534

`55.71 (` crores)

1.50% p.a.

0.29% (Annualised)

Date of Allotment

NAV - Growth Plan



Tracking Error

Scheme Details


MGOLD

MOSTGLD

INF247L01072

Entry Load

Exit Load

NIL

NIL

NSE & BSE Symbol

Bloomberg Code

ISIN Code

^Year-to-date.

Mr. Anubhav Srivastava

Fund Manager(Data as on 31st January 2014)

98.82%

1.18%

100.00%

Gold

Cash & Other Receivables

Net Assets

Security Type % of holding

Portfolio

Returns for one year are absolute. Returns for more than one year are compounded annualized; ncase, the start/end date of the concerned period is non business date (NBD), theNAV of the previous date is considered for computation of returns.

Period Scheme

PerformanceBenchmark

-14.44%December 31, 2012 toDecember 31, 2013

-13.26%

MOSt Gold Shares ETFReturns (%) ^

Spot Domestic GoldPrice Returns (%) ^

NOTE : Mr. Anubhav Srivastava is also the fund manager for MOSt Shares M50,MOSt Shares Midcap 100 and MOSt Shares NASDAQ 100, the performance ofwhich is mentioned on page no. 6, 7 and 8 respectively.


• India's 1st Fundamentally weighted ETF based on CNX Nifty Index (Nifty50) which consists of a diversified portfolio of top 50 Indian companies which are part of Nifty50. M50 Basket (also referred as Nifty50 Re-mixed), consists of all stocks of Nifty50 with Capital allocation determined by Motilal Oswal AMC's proprietary “4 factor” methodology based on:

i) Shareholders funds / Networth / Shareholders Equity ii) Return on Equity

iii) Plowback Ratio iv) Price

• This eliminates the bias of size and expensiveness in an investment portfolio through higher allocation to constituents with good financial performance & reasonable valuation and lower allocation to constituents with poor financial performance & high valuation. Capital allocation rebalanced whenever there is change in Nifty 50 constituents or 12 months from last rebalance, whichever is earlier. M50 basket is calculated and maintained by India Index Service Limited.

• The active mutual funds in the industry has expense ratios ranging between 2 to 3 percent (Source: MFI Explorer) where as ETFs like M50 levy 1.25 percent.

11

While the index corrected sharply and then rebound, the valuations remain below 2012 levels. Price/EPS for CY 2013 was 14.36 whereas currently it is around 13.28. However, Price/Sales for the Index is close to where it was last year (0.96 v/s 0.98) and EV/EBITDA is similarly at 10.25 v/s 10.67 showing a possible revival in fortunes of underlying companies and making the CNX Midcap Index attractive.

This is an ideal product to if you expect that the markets will get into bullish mode for next 5 years.

Source: Bloomberg Data as on January 31, 2014.


IMidcap 100

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial securities listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies. A recent example (of companies in NASDAQ 100 Index) has been of Tesla Motors which returned a handsome 20.63% CYTD. The other companies like Illumina Inc., facebook Inc., Alexion Pharmaceuticals have returned 37.41%, 14.47% and 19.29% respectively.

Source: Bloomberg Data as on January 31, 2014.

II


nasdaq 100

The fund is a play on the interest rate cycle where illiquidity premiums are the low (10 year benchmark G-Sec is the most liquid segment of the market) and provides Credit risk free returns (the exposure to sovereign risk). Interest rates have been hovering near 9 percent for some time, making it a good time to invest should an investor have possible capital appreciation as an investment objective. As there are no active duration calls or duration management, advisors and investors alike can look at this fund to either benefit from the interest rate cycle or to manage duration of their portfolios.

Since there is no index exposure available in the debt market, MOSt 10 Year Gilt Fund may be used for exposure to one of the most liquid debt securities.

gilt fundMotilal Oswal Mutual Fund

Mosl10 Year

To know more about ETFs, please visit: www.mostshares.com/ETF-Basics.aspx

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