frees you to enjoy the ride up saves you on

8/14/2019 Frees You to Enjoy the Ride Up Saves You On

1/52

M a y 2 0 0 9

For award methodology and further details refer page 48For further details of Birla Sun Life Freedom Fund refer page 51

4 fund houses were eligible out of a universe of 26. Period: 4 quarterly CPRs in 2007.3 fund houses were eligible out of a universe of 27. Period: 4 quarterly CPRs in 2008.

Past performance is no guarantee of future results.

Toll Free: 1-800-22-7000 (MTNL / BSNL) / 1-800-270-7000 | Non Toll Free: 022-6691 7777 | Website: www.birlasunlife

sms GAIN to 56161 | E-mail: [email protected]

Frees you to enjoy the ride upSaves you on the way down

Birla Sun Life Freedom FundAn open ended balanced scheme

Birla Sun Life Freedom FundAn open ended balanced scheme


2/52


3/52

Market Outlook

Our Investment Team (In alphabetical order)

. Balasubramanian Chief Investment Officer

chala Kanitkar Research Analyst - Equity

jay Argal Co - Head Equity

jay Garg Fund Manager - Equity

nkit Sancheti Fund Manager - Equity

Atul Penkar Fund Manager - Equity

Hemang Dagli Sr. Dealer - Equity & Deri. Specialist

Hina Sampat Executive - Knowledge Management

Lokesh Mallya Credit Analyst-Fixed Income

Mahesh Patil Co - Head Equity

Maneesh Dangi Co - Head Fixed Income

Paresh Khandelwal Equity Analyst

Prasad Dhonde Fund Manager - Debt

Sanjay Chawla Fund Manager - Equity

Satyabrata Mohanty Co - Head Fixed

Sujit Patki Dealer-Equity

Sunaina da Cunha Fund Manager

Vineet Maloo Fund Manager

M a y 2 0 0 9

Equity Market

Debt Market

onds rise as surplus liquidity whets demand...

overnment bond prices strengthened backed by excess liquidity in the banking system

nsuring smooth functioning of G-sec auctions. Besides the financial year-end

positioning for Indian banks at the month start, gains were also largely due to the OMO

uyback and the MSS unwind plan that underpinned sentiment in the market. The ten-year

enchmark yield curve shifted to a lower plane with the benchmark yield making a low of

03% down from 7.01% at the beginning of the month, before stabilising around 6.25%

vels.

ctivity in the non-SLR market remained choppy with corporate bond yields climbing as

aders liquidated positions ahead of the upcoming fresh debt issuances. Redemption of

wo dated securities released Rs.40,000 crore into the system while increased

overnment spending ahead of national elections in April and May also augmented the

quidity. Interest payments and slower loan growth in confluence provided a further boost

cash and thus sentiment for bonds.

he RBI cut the LAF repo and reverse repo rates by 25 bps each to 4.75% and 3.25%

spectively. However, a more significant point in the policy was the RBI's 6% guidance for

owth in FY10. The lower forecast reinforced the view that the policy to remain benign ine future. RBI reiterated to ensure ample liquidity by continuing to take a more active role

the borrowing program, which would also then enable banks to lower lending rates.

igh government borrowing sparks supply fears...

Weekly data released by RBI indicated government's borrowings overshooting the WMA

(Ways and Means Advances) limits 2 weeks in a row which is worrisome. WPI

with inflation at 0.57% y-o-y for the week ended April 18, above the previo

0.26%. The credit growth witnessed a sharp deceleration in the previous m

banking system being awashed with ample liquidity.

Outlook

Bond market is in for a choppy month given bond auctions and elections. Th

see an issuance of Rs.48,000 crore of government bonds with no redemption

for the month. Though, too much liquidity in the banking system as well as light

SLR may result in good demand. Results of the general elections will also be a

the month and the market is apprehensive of the outcome of the election r

importantly, the budget of the new government is also perceived to be an ev

continue to maintain our stance that the short terms rates should collapse and

Long terms rates shall follow shortly thereafter. Corporate spread may squee

some clarity on supply issue emerges. The 5-10 year spread currently at 20 bp

to around 50 bps and the 10-30 year spread shall also reduce from current 100

bps.

Economy has been witnessing some positive signs from various quar

greenshoots, i.e., Port traffic figures, Real M1 (money supply), Auto sales, Cindicate a bottoming out of economy and a possible recovery in the mont

Though the world economy faces a huge output gap and the inflationary e

remain subdued, these factors will remain favorable for the bond markets.

entiments recuperate globally.

he policy aid applied by governments around the globe helped bolster general financialonditions but confidence in the longer-term health of financial firms remained vulnerable.ajor economies continued to experience deep contractions in Q1, but witnessed some

immers of hope recently with economic data suggesting the pace of deterioration inobal economies has slowed down. There has been considerable enthusiasm aboutese green shoots in the global economy, economic indicators that have turned upward.hile any sign of tentative improvement is worth watching for and considering, moderationthe pace of contraction may not mean an imminent recovery.

order to build confidence in the financial firms, the U.S. federal banking supervisors areeen to ensure that the 19 largest U.S. banks have capital buffer sufficient to withstandsses and sustain lending even in significantly adverse economic conditions. In keepingth this aim, the Federal Reserve and other federal bank supervisors resorted to a

omprehensive capital assessment exercise the Supervisory Capital Assessmentrogram (SCAP) or more popularly known as the stress test. The results indicate totalapital raising requirement of US$ 75 billion in contrast to earlier IMF estimate of US$275-S$500 billion; this has come as a relief for the markets.

n the other hand, Swine Flu or H1N1 Flu, which emerged as a new stress test, added toorries over the economic damage around the world and weighed down global equities,dversely hitting the travel industry.

arkets have continued on the uptrend in spite of these concerns. India emerged as theecond best performer as compared to stock market gains in other BRIC nations Brazil16%), Russia (+21%) and China (+4.4%). BSE Sensex gained 17.5% to end at 11,403,hile Nifty gained 15% to close at 3,474. Sector wise, Realty gained over 36%, Banks over6%, while defensive segment FMCG was up mere 3%. The enthusiasm is also visible inI flows in April, which reached US$ 1.3 billion, the highest in last 12 months.

he local healing effect

he RBI's moves on the monetary front have significantly assuaged domestic liquidity

situation. This has in turn enhanced the availability of finance for the real econonow evident in the corporate bonds spreads that have fallen to 3 year lows.data remained mixed, but veering toward the positive. Cement and steeltelecom subscribers, port traffic, auto and sales indicated that the pace o

decline is moderating. However, trends in exports, credit off-take and taxremain subdued.

Companies that have reported the March quarter results until now have gebetter than thought. Although most sectors reported better than estimateleaders have been Cement, Staples, Metals and Financials while Healthcarehave lagged behind.

Concerns going further .

The outcome of the month-long general election will continue to play on investoRecent developments indicate a fractured verdict with the odds still favoring a CBJP-led alliance. Irrespective of whether the Congress or BJP comes tdominant party in a coalition, there is little likelihood of a major policy shift whmarket unfriendly. There are signs that the pace of recession is easing, butover recovery and little room for fiscal pump priming the monetary policy is likgeared to stimulus, which should put a floor under growth.

India's widening fiscal deficit has been a cause for concern for some investoinflationary tendencies in the economy. However, a large part of deficit is co(fall in tax revenues) or non-recurring (public sector wage hikes and pre-electioin nature and should not pose a major problem. The reason is that India'sstabilize at relatively decent levels, which will allow us to correct our fiscal imbrisk to be kept in mind is that of geopolitical tensions emanating from Pakistaresult in higher risk premiums being ascribed to Indian markets relative to othcountries.


4/52

Birla Sun Life Equity FundM a y 2 0 0 9

As on April 30, 2009

Fund Details

Fund Manager :Managing Fund Since : October 01, 2006Total Experience : 16 yearsDate of inception : August 27, 1998Nature of the scheme : An Open-ended Growth Scheme

Default option : Dividend ReinvestmentFresh Purchase : Rs. 5000/-Additional Purchase : Rs. 1000/-Redemption Cheques : Within 10 wo rking daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : AvailablePlan (SWP)

Systematic Transfer : AvailablePlan (STP)

Dividend : 46.88( )Growth : 145.45

Benchmark : BSE 200Average AUM : Rs. 793.05 Crores

Entry Load* : < Rs. 5 crores - 2.25%Rs. 5 crores - Nil

Exit Load** : < Rs. 5 crores - 1% if redeemed/ switched out within 12 monthsRs. 5 crores - Nil*For direct application: Entry Load isNil.**Exit / Entry Load is NIL for unitsissued in Bonus & DividendReinvestment.

Standard Deviation : 33.13%##Sharpe Ratio : -0.18

Beta : 0.92Annual PortfolioTurnover ratio : 4.38

Mr. Mahesh Patil

Payout, Reinvestment & Sweep

Key Features

Plans / Options & NAV

Load Structure (Incl for SIP)

Other Parameter

(as on April 29, 2009)

Note:Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using

3 years history of monthly returns, source: MFI Explorer##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

#Value Research Rating

Birla Sun Life Equity FundEquity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

4

An open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 910% debt and money market securities.

Investment Objective

Bi rl a Su n L if e E qu it y F un d - Gr ow th B SE 20 0

%R

eturns

Past performance may or may not be sustained in future. Returnabsolute returns for period less than 1 year & CAGR for period 1 ye

Investment Performance

Systematic Investment Plan (SIP)

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Equity Fund...

Date of First Installment : October 01, 1998

The data assumes the investment of Rs.1,000/- on 1st day of every month or the su bsequent working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.

*CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Banks 13.05State Bank of India 3.40ICICI Bank Ltd. 2.93Axis Bank Ltd. 2.62HDFC Bank Ltd. 2.40Yes Bank Ltd. 1.17Indian Bank 0.54

Petroleum Products 9.31Reliance Industries Ltd. 7.76Indian Oil Corporation Ltd. 1.55

Software 8.75Infosys Technologies Ltd. 6.56Tata Consultancy Services Ltd. 1.77Megasoft Ltd. 0.41

Telecom-Services 8.19Bharti Airtel Ltd. 8.19Reliance Communications Ltd. #

Power 7.38Reliance Infrastructure Ltd. 2.25Tata Power Company Ltd. 1.84CESC Ltd. 1.40KEC International Ltd. 1.10

GVK Power & Infrastructure Ltd. 0.79

Industrial Capital Goods 7.25Bharat Heavy Electricals Ltd. 1.75Crompton Greaves Ltd. 1.64

Suzlon Energy Ltd. 1.32Thermax Ltd. 1.25BEML LIMITED 0.67Bharat Bijlee Ltd. 0.62

Consumer Non Durables 6.71ITC Ltd. 3.98United Spirits Ltd. 1.80United Breweries Holdings Ltd. 0.94

Finance 5.96Rura l Elec tri fi ca tion C or pora tion L td . 1 .56HDFC Ltd. 1.40IDFC Ltd. 1.25India Infoline Ltd. 1.12Reliance Capital Ltd. 0.63

Oil 4.05Oi l & Natural Gas Co rpo ratio n Ltd. 4.05

Pharmaceuticals 3.97Dr. Reddy's Laboratories Ltd. 2.13Sun Pharmaceutical Industries Ltd. 0.99Ranbaxy Laboratories Ltd. 0.81Maestro Mediline Systems Ltd. 0.03

Construction Project 4.21Larsen & Toubro Ltd. 2.85Punj Lloyd Ltd. 1.36

Media & Entertainment 1.55Jagran Prakashan Ltd. 0.62

Balaji Telefilms Ltd.Ze e E nte rtain men t Enterpri ses Ltd .Magnasound India Ltd. **

RetailingPantaloon Retail (India) Ltd.Pantaloon Retail Ltd.-Bonus - Class B SSer 1**

CementGrasim Industries Ltd.

ConstructionUnitech Ltd.

Non - Ferrous MetalsSterlite Industries (India) Ltd.

DiversifiedHindustan Unilever Ltd.

Future and OptionsReliance Capital Future May 2009Reliance Infra Future May 2009Reliance Industries Ltd. Future May CNX Nifty Futures May 2009

Cash & Cash Equivalents

Net receivables / payables

Total Net Assets

Issuer % to NetAssets


Issuer

Portfolio & Asset Allocation

** Represents thinly traded/ non traded securities.# Indicates less than 0.01

Since Inception 127000 281801 468034 14.35

Last 5 years 60000 66812 72501 4.26

Last 3 years 36000 30468 30028 -10.58

Last 1 year 12000 11693 11454 -4.77

Investment Period Total Investment(Rs.) Birla Sun Life

Equity FundBirlEq

BSE 200 BSE 200

Value (Rs.) of SIP in Returns (%)

Value Blend Growth Size

Large

Mid

Small

Investment Style

Investment Style Box

-36.84

-2.84

18.97

28.49

-38.00

-3.71

12.16 14.87

-50

-40

-30

-20

-10

0

10

20

30

40

1 Year 3 Years

5 Years Since Inception


5/52

Birla Sun Life Midcap FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Mr. Sanjay Chawla

Managing Fund Since : Sep tember 12,2007Total Experience : 18 years / 13 YearsDate of inception : October 03, 2002Nature of the scheme : An Open-ended Growth Scheme

Default option : Dividend ReinvestmentFresh Purchase : Rs. 5000/-Additional Purchase : Rs. 1000/-Redemption Cheques : Within 10 wo rking daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : Available

Plan (SWP)Systematic Transfer : AvailablePlan (STP)


Benchmark : CNX MidcapAverage AUM : Rs. 358.19 Crores





Mr. A. Balasubramaniam &


Key Features



Other Parameter




IssuerIssuer % to NetAssets

Consumer Non Durables 8.26Marico Ltd. 3.21Balrampur Chini Mills Ltd. 1.87Britannia Industries Ltd. 1.71Colgate-Palmolive (India) Ltd. 1.47

Banks 7.74Bank of Baroda 3.50Union Bank of India 1.76Allahabad Bank 1.40Indian Bank 1.08

Construction 7.57Punj Lloyd Ltd. 2.46Housing Development & Infrastructure Ltd 1.96Simplex Infrastructures Ltd. 1.87IVRCL Inf rast ructures & Projects Ltd. 1.27

Industrial Capital Goods 8.11Crompton Greaves Ltd. 2.89Suzlon Energy Ltd. 1.36Thermax Ltd. 1.20AIA Engineering Ltd. 1.04BEML Limited 0.91Sterlite Technologies Ltd. 0.70

Power 6.14GVK Power & Infrastructure Ltd. 2.39Jyoti Structures Ltd. 2.37Kal pataru Power Tra nsmi ssio n Ltd. 0.8 0KEC International Ltd. 0.57

Industrial Products 5.93Sintex Industries Ltd. 3.62Jain Irrigation Systems Ltd. 2.31

Finance 5.45Rural Elect ri fication Corporation Ltd. 2.76India Infoline Ltd. 2.69

Petroleum Products 5.28Hindustan Pet roleum Corporat ion Ltd. 3.69Castrol India Ltd. 1.60

Ferrous Metals 4.39We lspun Gujarat Stah l Rohren Ltd. 3.23Monnet Ispat and Energy Limited 1.16

Pharmaceuticals 4.12Lupin Ltd. 4.12

Auto Ancillaries 3.78Exide Industries Ltd. 2.63Apollo Tyres Ltd. 1.15

Fertilisers 3.60Tata Chemicals Ltd. 3.60

Chemicals 2.59Solar Industries Ltd. 2.59

Minerals/Mining 2.48Nava Bharat Ventures Ltd. 2.48

PesticidesUnited Phosphorus Ltd.

TransportationGreat Eastern Shipping Company L

Media & EntertainmentSun TV Network LimitedZee Enterta inment Enterprise s Ltd.

AutoBajaj Auto Ltd.

CementShree Cements Ltd.The India Cements Ltd.

SoftwareMphasis Ltd.Infotech Enterprises Ltd.

Non - Ferrous MetalsHindustan Zinc Ltd



Total Net Assets


An open-ended growth scheme with the objective to achieve long-term growth of capital at controlled level of risk by primamidcap stocks.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Midcap Fund...


Date of First Installment : November 01, 2002

The data assumes the investment of Rs.1,000/- on 1 st day of every month or the subsequen t working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.



Midcap FundBirlMid

CNX Midcap CNX Midcap

Value (Rs.) of SIP in Returns (%)*

Since Inception 78000 112181 135116 11.04

Last 5 years 60000 59601 67708 -0.26

Last 3 years 36000 27759 29140 -16.24

Last 1 year 12000 10806 11219 -18.14





Birla Sun Life Midcap Fund - Growth CNX Midcap

%R

eturns

Past performance may or may not be sustained in future. Retuabsolute returns for period less than 1 year & CAGR for period 1 y


V #alue Research RatingBirla Sun Life Midcap Fund

Equity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

CRISIL~CPR 1^^Birla Sun Life Midcap Fund

Small & Mid Equity Schemes ( Schemes), 516 Yrs ended 31-Ma

-39.95

-5.08

17.91

28.14

-44.97

-9.10

10.74

25.22

-50

-40

-30

-20

-10

0

10

20

30

40

1 Year 3 Years



6/52

Birla Sun Life Frontline Equity FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : October 01,2006Total Experience : 16 yearsDate of inception : August 30, 2002Nature of the scheme : An Open-ended Growth Scheme







Standard Deviation : 29.36%##Sharpe Ratio : 0.06


Mr. Mahesh Patil


Key Features



Other Parameter





Banks 13.59ICICI Bank Ltd. 3.84State Bank of India 3.05HDFC Bank Ltd. 2.80Axis Bank Ltd. 2.61Bank of Baroda 1.29

Petroleum Products 10.42Reliance Industries Ltd. 7.75Indian Oil Corporation Ltd. 1.71Hindustan Petroleum Corporation Ltd. 0.96

Software 9.17Infosys Technologies Ltd. 6.39Tata Consultancy Services Ltd. 1.72Wipro Ltd. 1.06

Consumer Non Durables 7.06ITC Ltd. 3.80United Spirits Ltd. 1.71Nestle India Ltd. 1.00Balrampur Chini Mills Ltd. 0.54

Power 6.91Tata Power Company Ltd. 2.01Reliance Infrastructure Ltd. 1.92CESC Ltd. 1.83NTPC Ltd. 1.14

Telecom-Services 6.80Bharti Airtel Ltd. 6.67

Reliance Communications Ltd. 0.13

Industrial Capital Goods 6.10Crompton Greaves Ltd. 1.65Bharat Heavy Electricals Ltd. 1.29BEML Limited 1.11Bharat Electronics Ltd. 1.05Suzlon Energy Ltd. 1.00

Finance 5.65Housing Development Finance Corp. Ltd. 2.07Rura l Elec tri fi ca tion C or pora tion L td . 1 .51Reliance Capital Ltd. 1.26IDFC 0.81

Oil 3.76Oi l & Natural Ga s Corp oratio n L td. 3.7 6

Construction Project 4.70Larsen & Toubro Ltd. 3.24LANCO Infratech Ltd. 0.33Punj Lloyd Ltd. 1.14

Pharmaceuticals 2.62Cipla Ltd. 0.90Sun Pha rmaceutica l Indu stries Ltd. 0.8 8Dr.Reddys Laboratories Ltd. 0.84

Non - Ferrous Metals 2.15Hindalco Industries Ltd. 1.10Sterlite Industries (India) Ltd. 1.05

CementGrasim Industries Ltd.

Media & EntertainmentZee En tertainment Ente rpri ses Ltd.Television Eighteen India Ltd.

Ferrous MetalsTata Steel LimitedJindal Steel & Power Ltd.

FertilisersTata Chemicals Ltd.

HotelsIndian Hotels Co. Ltd.

ConstructionUnitech Ltd.

Future and OptionsReliance Infra Fut May 2009Reliance Industr ies Ltd. Fut May 200CNX Nifty Futures May 2009



Total Net Assets


An open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 1aiming at being as diversified across various industries and or sectors as its chosen benchmark index, BSE 200.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Frontline Equity Fund...



The data assumes the investment of Rs.1,000/- on 1 st day of every month or the subsequen t working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.


Investment Period Total Investment(Rs.) Birla Sun Life Frontline

Equity FundBirla S

Frontline EBSE 200 BSE 200


Since Inception 79000 120699 153104 12.71 19

Last 5 years 60000 66812 80581 4.26 11

Last 3 years 36000 30468 33983 -10.58 -3

Last 1 year 12000 11693 12056 -4.77 0



Bi rl a Sun Life Frontline Equity Fund - Growth BSE 200

%R

eturns





CRISIL~CPR 1^^

Birla Sun Life Frontline Equity Fund

Diversified Equity Scheme (69 Schemes), 2 Yrs ended 31-Mar-09

5-Star Award by @ICRA


Open Ended Diversified Equity - Defensive (55 Schemes), 3 year ended 31-Dec-08

V #alue Research Rating


Equity: Diversified (142 Schemes), for 3 & 5 Years periods ending 30-A

5-Star Award by @ICRABirla Sun Life Frontline Equity Fund

Open Ended Diversified Equity - Defensive (62 Schemes), 1 year e

-28.70

4.98

18.17

26.41

-38.00

-3.71

12.16

20.90

-50

-40

-30

-20

-10

0

10

20

30

1 Year

3 Years 5 Years Since Inception


7/52

M a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : October 01,2006Total Experience : 15 yearsDate of inception : March 29, 1996Natu re of the scheme : An Open-ended ELSS Scheme

Default option : Dividend PayoutFresh Purchase : Rs. 500/-Additional Purchase : Rs. 500/-Redemption Cheques : Within 10 wo rking daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : Not AvailablePlan (SWP)

Systematic Transfer : Not AvailablePlan (STP)

Dividend : 51.58(Payout, Reinvestment & Sweep)Growth (w.e.f. 06/03/08) : 6 .06



Exit Load : Nil*For direct application: Entry Load isNil.


Beta : 1.00

Annual PortfolioTurnover ratio : 0.62

Mr. Ajay Garg

Key Features



Other Parameter



Birla Sun Life Tax Relief 96An open - ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years



Issuer

Banks 14.90State Bank of India 4.07ICICI Bank Ltd. 2.98HDFC Bank Ltd. 2.87Axis Bank Ltd. 2.41ING Vysya Bank Ltd. 1.73Kotak Mahindra Bank Ltd. 0.84

Petroleum Products 11.53Reliance Industries Ltd. 8.62Reliance Petroleum Ltd. 2.91

Industrial Capital Goods 8.09Bharat Heavy Electricals Ltd. 3.83Honeywell Automation India Ltd. 2.04Crompton Greaves Ltd. 1.29Bharat Bijlee Ltd. 0.61Siemens Ltd. 0.32

Software 7.48Infosys Technologies Ltd. 5.68Tata Consultancy Services Ltd. 1.81

Finance 7.46HDFC Ltd. 3.26ICRA Ltd. 2.92

India Infoline Ltd. 1.27



Ferrous Metals 6.60Jindal Steel & Power Ltd. 4.01Tata Steel Limited 2.59

Construction Project 5.48Larsen & Toubro Ltd. 5.48

Power 5.24Reliance Infrastructure Ltd. 4.03GVK Power & Infrastructure Ltd. 1.21

Auto 3.42Maruti Suzuki India Ltd. 2.01Mahindra & Mahindra Ltd. 1.41

Non - Ferrous Metals 3.34Sterlite Industries (India) Ltd. 1.78Hindalco Industries Ltd. 1.56

Auto Ancillaries 3.27Bosch Ltd. 2.51MRF Ltd. 0.76

Hotels 2.86Indian Hotels Co. Ltd. 1.22Asian Hotels Ltd. 0.91Taj GVK Hotels & Resorts Ltd. 0.73

Consumer Non DurablesShaw Wallace & Company Ltd.United Breweries Holdings Ltd.Radico Khaitan Ltd.

PesticidesUnited Phosphorus Ltd.Rallis India Ltd.

Industrial ProductsCummins India Ltd.

Media & EntertainmentTelevision Eighteen India Ltd.Magnasound India Ltd. **

TransportationJet Airways (India) Ltd.

TradingUniphos Enterprises Ltd.



Total Net Assets


An open-ended equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfoliallocation of 80% equity, 20% debt and money market securities

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Relief 96...


Date of First Installment : April 01, 1996

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subseq uent working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.


Investment Period Total Investment(Rs.) Birla Sun Life Tax

Relief 96Birla S

RBSE 200 BSE 200


Since Inception 157000 395811 1058323 13.22

Last 5 years 60000 66812 62489 4.26

Last 3 years 36000 30468 28396 -10.58

Last 1 year 12000 11693 11440 -4.77



Birla Sun Life Tax Relief 96 - Dividend BSE 200

%R

eturns

Past performance may or may not be sustained in future. Retabsolute returns for period less than 1 year & CAGR for perioReturns assume reinvestment of the tax free dividend declared




-41.00

-6.13

9.94

29.35

-38.00

-3.71

12.16 10.91

-50

-40

-30

-20

-10

0

10

20

30

40

1 Year 3 Years



8/52

Birla Sun Life Infrastructure FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


8

Fund Details

Fund Manager :Managing Fund Since : Since inceptionTotal Experience : 16 yearsDate of inception : March 17, 2006Nature of the scheme : An Open-ended Growth Scheme

Default option : Dividend ReinvestmentFresh Purchase : Rs. 5000/-Additional Purchase : Rs. 1000/-Redemption Cheques : Wi thi n 10 working daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : AvailablePlan (SWP)



Benchmark : S&P CNX NIFTYAverage AUM : Rs. 312.79 Crores





Mr. Mahesh Patil


Key Features



Other Parameter





Issuer

Power 15.88

Reliance Infrastructure Ltd. 2.50Tata Power Company Ltd. 2.34CESC Ltd. 2.34GVK Power & Infrastructure Ltd. 2.15KEC International Ltd. 1.86Jyoti Structures Ltd. 1.56NTPC Ltd. 1.52PTC India Ltd 1.29K alpataru Power Transmissi on Ltd. 0.33

Banks 13.43ICICI Bank Ltd. 4.49Axis Bank Ltd. 3.24State Bank of India 2.32HDFC Bank Ltd. 2.31South Indian Bank Ltd. 1.06

Industrial Capital Goods 10.14Bharat Heavy Electricals Ltd. 1.93Thermax Ltd. 1.52Crompton Greaves Ltd. 1.51Bharat Electronics Ltd. 1.47BEML Limited 1.22Suzlon Energy Ltd. 0.98

ABB Ltd. 0.66Bharati Shipyard Ltd. 0.50Alstom Projects India Ltd. 0.33Sterlite Technologies Ltd. 0.02


Finance 7.23

Housing Development Finance Corp. Ltd. 2.98Power Finance Corporation Ltd 1.81Rura l E lect ri fi ca tion Corpor at ion L td . 1 .24Reliance Capital Ltd. 1.16IDFC 0.03

Telecom-Services 7.21

Bharti Airtel Ltd. 4.81Reliance Communications Ltd. 2.39

Construction Project 4.85

Larsen & Toubro Ltd. 3.74LANCO Infratech Ltd. 0.62Voltas Ltd. 0.49

Construction 3.81Nagar juna Construction Company Ltd. 1.33Unitech Ltd. 1.09ITD Cementation India Ltd. 0.60Madhucon Projects Ltd. 0.46HSIL Limited 0.21Patel Engineering Ltd. 0.12

Oil 3.42Oil & Natural Gas Corporation Ltd. 3.42

Industrial Products 2.26

Sintex Industries Ltd. 0.68Finolex Cables Ltd. 0.64Kirloskar Oil Engines Ltd. 0.63Torrent Cables Ltd. 0.31

Gas

Gujarat Gas Company Ltd.

Non - Ferrous Metals

Sterlite Industries (India) Ltd.

Hindalco Industries Ltd.

Cement

Grasim Industries Ltd.

Jaiprakash Associates Ltd.

Hotels

Taj GVK Hotels & Resorts Ltd.

Indian Hotels Co. Ltd.

Ferrous Metals

Maharashtra Seamless Ltd.

Transportation

Arshiya International Ltd

Future and Options

CNX Nifty Futures MAY 2009



Total Net Assets


An open-ended growth scheme with the objective to providing for medium to long-term capital appreciation by investing preddiversified portfolio of equity and equity related securities of companies that are participating in the growth and development oin India.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Infrastructure Fund...


Date of First Installment : April 01, 2006

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.



Infrastructure FundBirla

InfrastS&P CNX NIFTY S&P CNX NIFTY


Since Inception 37000 33214 30332 -6.74 -

Last 3 year 36000 32213 29451 -7.11 -

Last 1 year 12000 11972 11593 -0.44



Birla Sun Life Infrastructure Fund - Growth S&P CNX Nifty

%R

eturns


Note:Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using3 years history of monthly returns, source: MFI Explorer##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

-38.06

-4.93-1.83

-32.83

-0.79

0.68

-50

-40

-30

-20

-10

0

10

1 Year 3 Years

Since Inception


9/52

Birla Sun Life Basic Industries FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : November 30,2007Total Experience : 8 yearsDate of inception : January 15, 2000Nature of the scheme : An Open-ended Growth Scheme



Dividend : 21.13(Payout, Reinvestment & Sweep)Growth : 54.52






Mr. Ankit Sancheti

Key Features



Other Parameter





Issuer

Petroleum Products 15.37Reliance Industries Ltd. 9.37B harat Petroleum Corporation Ltd. 2.37Indian Oil Corporation Ltd. 2.28Hindustan Pet roleum Corporation Ltd. 1.35

Industrial Capital Goods 13.58Bharat Heavy Electricals Ltd. 3.91Apar Industries Ltd. 2.14Bharat Electronics Ltd. 2.11BEML LIMITED 2.09Crompton Greaves Ltd. 1.76Suzlon Energy Ltd. 0.75Elecon Engineering Ltd. 0.46AIA Engineering Ltd. 0.36

Power 13.51NTPC Ltd. 3.92Jyoti Structures Ltd. 2.73Neyveli Lignite Corporation Ltd. 2.17Tata Power Company Ltd. 1.86Reliance Infrastructure Ltd. 1.73PTC India Ltd 0.87KEC International Ltd. 0.23

Banks 8.63Bank of Baroda 3.00Union Bank of India 2.69ICICI Bank Ltd. 2.36

Axis Bank Ltd. 0.57

Construction 5.60IVRC L In frastr uc tu res & Pr ojec ts Lt d. 3 .91Unitech Ltd. 1.08Nagar juna Construction Company Ltd. 0.61

Consumer Non Durables 5.60Balrampur Chini Mills Ltd. 3.24Mcleod Russel India Ltd. 2.36

Finance 4.71Housing Development Finance Corp. Ltd. 2.40Reliance Capital Ltd. 2.31


Cement 2.08Ultratech Cement Ltd. 2.08

Industrial Products 1.95Sintex Industries Ltd. 1.49TRF Ltd. 0.46

Construction Project 1.94Larsen & Toubro Ltd. 1.94

Non - Ferrous Metals 1.88Hindustan Zinc Ltd 1.53

Hindalco Industries Ltd.

PaperBallarpur Industries Ltd.

FertilisersTata Chemicals Ltd.Coromandel Fertilisers Ltd.

Auto AncillariesExide Industries Ltd.

Ferrous MetalsJindal Steel & Power Ltd.

GasGujarat State Petronet LtdGujarat Gas Company Ltd.

Future and OptionsCNX Nifty Futures MAY 2009



Total Net Assets


A multi-sector open-ended growth scheme with the objective of long term growth capital, through a portfolio with a target alloequity, focusing on investing in companies sensitive to economic cycles and commodity pricing cycles. The investments will bwhich are often referred to as cyclical companies.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Basic Industries Fund...


Date of First Installment : March 01, 2000

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and T axes are not considered foreturns. Past performance may or may not be sustained in future.


Investment Period Total Investment(Rs.) Birla Sun Life Basic

Industries FundBirla Sun

IndustrBSE 200 BSE 200


Since Inception 110000 223876 321824 14.95 2

Last 5 years 60000 66812 64413 4.26

Last 3 years 36000 30468 29124 -10.58 -1

Last 1 year 12000 11693 11332 -4.77 -1



Birla Sun Life Basic Industries Fund - Growth BSE 200

%R

eturns

Past performance may or may not be sustained in future. Retuabsolute returns for period less than 1 year & CAGR for period 1



-39.29

-6.45

11.88

20.02

-38.00

-3.71

12.168.28

-50

-40

-30

-20

-10

0

10

20

30

1 Year 3 Years



10/52

Birla Sun Life India GenNext FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


0

Fund Details

Fund Manager :Mr. Sanjay Chawla

Managing Fund Since : Sep tember 12,2007Total Experience : 18 years / 13 yearsDate of inception : August 05, 2005Nature of the scheme : An Open-ended Growth Scheme

Default option : Dividend ReinvestmentFresh Purchase : Rs. 5000/-Additional Purchase : Rs. 1000/-Redemption Cheques : Within 10 wo rking daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : Available

Plan (SWP)Systematic Transfer : AvailablePlan (STP)




Exit Load** : < Rs. 5 crores - 1% if redeemed/ switched out within 12 monthsRs. 5 crores - Nil*For direct application: Entry Load isNil.**Exit / Entry Load is NIL for unitsissued in Bonus & Dividend

Reinvestment.


Beta : 0.78Annual PortfolioTurnover Ratio : 1.43

Mr. A.Balasubramaniam &

Key Features



Other Parameter



An open-ended growth scheme with the objective to target growth of capital by investing in equity/equity related instrumentsthat are expected to benefit from the rising consumption patterns in India, which in turn is getting fuelled by high disposable young generation (Generation Next). The scheme will invest in companies that have the following characteristics: 1. Compagrowth in revenues arising out of demand from the younger generation (GenNext) for their products or services. 2. They shouldmanufacturing of products or rendering of services that go directly to the consumer. 3. The products and services should hav

identity, thereby enabling choice.




Issuer

Consumer Non Durables 44.34

Glaxosmithkline Consumer Healthcare Ltd. 9.46

ITC Ltd. 8.52

Nestle India Ltd. 7.77

Colgate-Palmolive (India) Ltd. 7.12

Britannia Industries Ltd. 3.98

Titan Industries Ltd. 2.60

Shaw Wallace & Company Ltd. 2.43

Godrej Consumer Products Ltd. 1.26

Mcleod Russel India Ltd. 1.19

Media & Entertainment 11.02

Z ee Entertai nmen t Enterprises Ltd . 3.64

Zee News Ltd. 2.68

Jagran Prakashan Ltd. 2.42

Television Eighteen India Ltd. 1.25

PVR Ltd. 1.02



Idea Cellular Ltd. 1.87

Pharmaceuticals 6.08

Sun Pharmaceutical Indus tries Ltd. 3 .28

Glaxosmithkline Pharmaceuticals Ltd. 2.79

Software 4.99

Everonn Systems India Ltd. 2.95

Core Projects & Technologies Ltd. 2.04

Auto 4.29

Hero Honda Motors Ltd. 3.05

Bajaj Auto Ltd. 1.24

Finance 3.53


HDFC Ltd. 1.56

Construction

Mahindra L ifespace D eveloper s L td

Petroleum Products

Castrol India Ltd.

Banks

HDFC Bank Ltd.

Retailing

Panta loon Re ta il (I nd ia ) L td . - Class



Total Net Assets


SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life India GenNext Fund...


Date of First Installment : September 01, 2005

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subs equent working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.


Investment Period Total Investment(Rs.) Birla Sun Life India

GenNext FundBirla S

GenS&P CNX NIFTY S&P CNX NIFTY


Since Inception 44000 42208 40006 -2.22

Last 3 years 36000 32213 31149 -7.11

Last 1 year 12000 11972 11421 -0.44


Birla Sun Life India GenNext Fund - Growth S&P CNX Nifty

%R

eturns




-28.87

-1.92

7.61

-32.83

-0.79

10.82

-40

-30

-20

-10

0

10

20

1 Year 3 Years

Since Inception


11/52

Birla Sun Life Advantage FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : Sep tember 12,2007Total Experience : 18 yearsDate of inception : February 24, 1995Nature of the scheme : An Open-ended Growth Scheme




Benchmark : BSE SENSEXAverage AUM : Rs. 261.67 Crores





Mr. A.Balasubramaniam

Key Features



Other Parameter





Issuer

Banks 12.91ICICI Bank Ltd. 3.30State Bank of India 2.95HDFC Bank Ltd. 2.93Indian Overseas Bank 1.90Bank of India 0.94Indian Bank 0.89

Telecom-Services 11.40Bharti Airtel Ltd. 4.02Reliance Communications Ltd. 3.90Idea Cellular Ltd. 3.48


Ferrous Metals 8.36Jindal Steel & Power Ltd. 3.61We lspun Gujarat S tah l Rohren Ltd. 2.60Tata Steel Limited 2.15

Software 7.80Infosys Technologies Ltd. 4.88Core Projects & Technologies Ltd. 1.40

Tata Consultancy Services Ltd. 1.13Mphasis Ltd. 0.38

Industrial Capital Goods 6.99Bharat Heavy Electricals Ltd. 4.18

Thermax Ltd. 1.06Emco Ltd. 0.94Areva T&D India Ltd. 0.81

Consumer Non Durables 6.04ITC Ltd. 2.72United Spirits Ltd. 1.66Balrampur Chini Mills Ltd. 1.60Tata Tea Ltd. 0.05

Cement 5.37The India Cements Ltd. 2.12ACC Ltd. 1.89Century Texti les and Industri es Ltd 1.35


Pharmaceuticals 3.09Pfizer Ltd. 1.69Cipla Ltd. 1.40

Power 3.02

Reliance Infrastructure Ltd. 1.67KEC International Ltd. 1.35

Non - Ferrous Metals 1.80Sterlite Industries (India) Ltd. 1.80

DiversifiedAditya Birla Nuvo Ltd.

ConstructionUnitech Ltd.Dhart i Dredging and Infrastructure L

FertilisersTata Chemicals Ltd.

Media & EntertainmentTelevision Eighteen India Ltd.

FinanceIDFC Ltd.

TransportationGreat Eastern Shipping Company L

Future and OptionsSTER FUT MAY 2009



Total Net Assets


An open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of diversified research based investment approach.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Advantage Fund...



The data assumes the investment of Rs.1,000/- on 1st day of every month or the subseq uent working day. Load and Taxes are not considered foreturns. Past performance may or may not be sustained in future.



Advantage FundBirla

AdvaBSE SENSEX BSE SENSEX


Since Inception 170000 416847 724063 11.81

Last 5 years 60000 71710 62092 7.08

Last 3 years 36000 31376 28548 -8.76

Last 1 year 12000 11905 11560 -1.49



Birla Sun Life Advantage Fund - G row th BSE Sensex

%R

eturns




** Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 0.13%.

-36.92

-7.52

11.71

18.31

-34.11

-1.80

15.06

8.86

-50

-40

-30

-20

-10

0

10

20

30

1 Year 3 Years



12/52

Birla Sun Life Tax Plan*M a y 2 0 0 9


Large

Mid

Small

Investment Style


2

Fund Details

Fund Manager :Managing Fund Since : Sep tember 12,2007Total Experience : 13 yearsDate of inception : February 16, 1999Natu re of the scheme : An Open-ended ELSS Scheme

Default option : Dividend PayoutFresh Purchase : Rs. 500/-Additional Purchase : Rs. 500/-Redemption Cheques : Within 10 wo rking daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : Not AvailablePlan (SWP)

Systematic Transfer : Not AvailablePlan (STP)


Benchmark : BSE SENSEXAverage AUM : Rs. 104.60 Crores


Exi t Load** : Nil*For direct application: Entry Load isNil.**Exit / Entry Load is NIL for unitsissued in Bonus & DividendReinvestment.

Standard Deviation : 31.78%

##Sharpe Ratio : -0.31Beta : 0.92Annual PortfolioTurnover ratio : 1.92

Mr. Sanjay Chawla

Key Features



Other Parameter



An open - ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years



Issuer

Petroleum Products 13.49Reliance Industries Ltd. 6.61Indian Oil Corporation Ltd. 4.07Reliance Petroleum Ltd. 2.81

Power 9.14NTPC Ltd. 3.92Tata Power Company Ltd. 3.27Neyveli Lignite Corporation Ltd. 1.95

Industrial Capital Goods 8.15Bharat Electronics Ltd. 3.01Suzlon Energy Ltd. 2.92Bharat Heavy Electricals Ltd. 1.51Bharat Bijlee Ltd. 0.71

Pharmaceuticals 6.38Glaxosmithkline Pharmaceuticals Ltd. 5.38Dishman Pharmaceuticals & Chemicals Ltd. 1.00

Banks 5.95HDFC Bank Ltd. 3.03State Bank of India 2.93

Telecom-Services 5.70Reliance Communications Ltd. 2.96Bharti Airtel Ltd. 2.75

Cement 4.85Jaiprakash Associates Ltd. 2.54

Ultratech Cement Ltd. 1.56Ambuja Cements Ltd. 0.74

Consumer Non Durables 4.20ITC Ltd. 3.47Marico Ltd. 0.74

Software 4.15Infosys Technologies Ltd. 4.15

Fertilisers 3.14Tata Chemicals Ltd. 3.14

Auto Ancillaries 2.69Goodyear India Ltd. 2.69

Ferrous Metals 2.23Tata Steel Limited 1.31Wel spun Guj arat Stahl Rohren Ltd. 0.9 2

Chemicals 2.22Solar Industries Ltd. 2.22

Transportation 2.12Mundra Port and Special Economic Zone Ltd 2.12

Finance 1.59HDFC Ltd. 1.59

Media & Entertainment 1.55Ze e E nte rtain men t Enterpri ses Ltd. 1.5 5

Magnasound India Ltd. **

AutoHero Honda Motors Ltd.

GasIndraprastha Gas Ltd.

ConstructionSimplex Infrastructures Ltd.

Construction ProjectLarsen & Toubro Ltd.

Industrial Products

TRF Ltd.

Retailing

Panta loon Re ta il (I nd ia ) L td . -C lass



Total Net Assets


An open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with infor investment.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Plan...





Investment Period Total Investment(Rs.) Birla Sun Life Tax

PlanBirla

TBSE SENSEX BSE SENSEX


Since Inception 122000 256257 363088 13.97

Last 5 years 60000 71710 65425 7.08

Last 3 years 36000 31376 29123 -8.76

Last 1 year 12000 11905 11658 -1.49



Birla Sun Life Tax Plan - Dividend BSE Sensex

%R

eturns

Past performance may or may not be sustained in future. Retuabsolute returns for period less than 1 year & CAGR for periodReturns assume reinvestment of the tax free dividend declared.




-34.75

-6.44

15.44

21.94

-34.11

-1.80

15.06 12.63

-50

-40

-30

-20

-10

0

10

20

30

1 Year 3 Years


*Name of scheme changed w.e.f June 23, 2008 erstwhile Birla Equity Plan


13/52

Birla Sun Life Index FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : October 01,2007Total Experience : 15 yearsDate of inception : September 18, 2002Nature of the scheme : An Open-ended Index L inked

Growth Scheme

Default option : Dividend ReinvestmentFresh Purchase : Rs. 5000/-Additional Purchase : Rs. 1000/-Redemption Cheques : Within 10 Working daysissuedSystematic Investment : AvailablePlan (SIP)Systematic Withdrawal : Not Available

Plan (SWP)Systematic Transfer : Not AvailablePlan (STP)



Entry Load : Ni l

Exit Load** : < Rs. 5 crores - 1% if redeemed/ switched out within 15 daysRs. 5 crores - Nil**Exit / Entry Load is NIL for unitsissued in Bonus & DividendReinvestment.

Standard Deviation : 32.70%##

Sharpe Ratio : -0.13Beta : 0.99Annual PortfolioTurnover ratio : 3.39

Mr. Ajay Garg

Key Features



Other Parameter





Petroleum Products 12.56Reliance Industries Ltd. 10.24Reliance Petroleum Ltd. 1.81Bharat P etrol eum Corpo ratio n Ltd. 0.51

Power 9.41NTPC Ltd. 5.64Power Gri d Corporati on of In dia Ltd 1.40Reliance Power Ltd 1.06Tata Power Company Ltd. 0.72Reliance Infrastructure Ltd. 0.58

Telecom-Services 7.96Bharti Airtel Ltd. 5.15Reliance Communications Ltd. 1.60Idea Cellular Ltd. 0.65Tata Communications Ltd. 0.56

Oil 7.93Oil & Natural Gas Corporation Ltd. 6.66Cairn India Ltd. 1.27

Banks 7.80State Bank of India 2.93ICICI Bank Ltd. 1.92HDFC Bank Ltd. 1.69

Axis Bank Ltd. 0.73Punjab National Bank 0.54


Wipro Ltd. 1.74HCL Technologies Ltd. 0.31

Industrial Capital Goods 4.01Bharat Heavy Electricals Ltd. 2.92Siemens Ltd. 0.37ABB Ltd. 0.37Suzlon Energy Ltd. 0.34

Consumer Non Durables 2.57ITC Ltd. 2.57

Auto 2.55Hero Honda Motors Ltd. 0.85Maruti Suzuki India Limited 0.85Mahindra & Mahindra Ltd. 0.45Tata Motors Ltd. 0.40

Finance 2.27Housing Development Finance Corp. Ltd 1.77Reliance Capital Ltd. 0.50

Ferrous Metals 2.25Steel Authority of India Ltd. 1.62Tata Steel Ltd. 0.63

Non-Ferrous Metals 1.87

Sterlite Industries India Ltd. 1.05National Aluminium Company Ltd. 0.49Hindalco Industries Ltd. 0.33

Pharmaceuticals 1.86Sun Pharmaceu ti cal In dustri es Ltd. 0.95

Cipla Ltd.Ranbaxy Laboratories Ltd.

Construction ProjectsLarsen & Toubro Ltd.


ConstructionDLF Ltd.Unitech Ltd.

CementGrasim Industries Ltd.Ambuja Cements Ltd.ACC Ltd.

GasGAIL (India) Ltd.

Future and OptionsCNX Nifty Future May 09



Total Net Assets


An open-ended index-linked growth scheme with the objective to generate returns commensurate with the performance of tracking errors.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Index Fund...






Index FundBirlaInd

S&P CNX NIFTY S&P CNX NIFTY


Since Inception 79000 125566 122661 13.90

Last 5 years 60000 71863 70533 7.17

Last 3 years 36000 32213 31894 -7.11

Last 1 year 12000 11972 11991 -0.44



%R

eturns



Birla Sun Li fe Index Fund - G row th S&P CN X N iftyPast performance may or may not be sustained in future. Retuabsolute returns for period less than 1 year & CAGR for period 1

-33.30

-0.97

13.43

20.75

-32.83

-0.79

14.10

21.51

-50

-40

-30

-20

-10

0

10

20

30

1 Year 3 Years



14/52



Software 48.18

Infosys Technologies Ltd. 20.37

Tata Consultancy Services Ltd. 8.37

Wipro Ltd. 3.60

Mphasis Ltd. 3.18

Infotech Enterprises Ltd. 2.78

3i Infotech Ltd. 2.50

Tech Mahindra Ltd. 1.94

MindTree Ltd. 1.66

Megasoft Ltd. 1.54


Subex Ltd. 0.72


Bharti Airtel Ltd. 19.58


Idea Cellular Ltd. 5.06

Media & Entertainment 9.84

Jagran Prakashan Ltd. 3.52

PVR Ltd. 1.62

Television Eighteen India Ltd. 1.45

Ze e E nte rtain men t Enterpri ses Ltd. 1.23

ETC Networks Ltd. 1.07

Balaji Telefilms Ltd. 0.49

Zee News Ltd. 0.25

HT Media Ltd. 0.21

Magnasound India Ltd. ** #


A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target alloequity, focusing on investing in technology and technology dependent companies, hardware, peripherals and componetelecom, media, internet and e-commerce and other technology enabled companies.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life New Mill ennium Fund...



The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and T axes are not considered foreturns. Past performance may or may not be sustained in future.


Investment Period Total Investment(Rs.) Birla Sun Life New

Millennium FundBirla SMillen

BSE Teck BSE Teck


Since Inception 110000 160752 167429 8.07

Last 5 years 60000 56758 53646 -2.19

Last 3 years 36000 26690 25025 -18.57

Last 1 year 12000 10969 10787 -15.73



%R

eturns

Birla Sun Li fe New Mil lennium Fund - Growth BSE TeckPast performance may or may not be sustained in future. Retuabsolute returns for period less than 1 year & CAGR for period 1 y

** Represents thinly traded/ non traded securities and illiquid securities.# Indicates less than 0.01

Birla Sun Life New Millennium FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


4

Fund Details

Fund Manager :Managing Fund Since : Sep tember 12,2007Total Experience : 9 yearsDate of inception : January 15, 2000Nature of the scheme : An Open-ended Growth Scheme




Benchmark : BSE TeckAverage AUM : Rs. 43.08 Crores





Mr. Atul Penkar

Key Features



Other Parameter





Hardware

Allied Digital Services Ltd.

Telecom-Equipment & Accessori

HCL Infosystems Ltd.



Total Net Assets

-43.18

-10.92

11.13

1.15

-37.79

-7.63

12.16

-3.7

-60

-50

-40

-30

-20

-10

0

10

20

1 Year 3 Years



15/52

Birla Sun Life Top 100 FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : October 01,2007Total Experience : 15 yearsDate of inception : October 24, 2005Nature of the scheme : An Open-ended Growth Scheme









Mr. Ajay Argal

Key Features



Other Parameter





Petroleum Products 11.53

Reliance Industries Ltd. 9.57Indian Oil Corporation Ltd. 1.01Bha rat P etrol eum Corporati on Ltd . 0.95

Telecom-Services 10.31Bharti Airtel Ltd. 7.98Reliance Communications Ltd. 2.33

Banks 10.28ICICI Bank Ltd. 3.38HDFC Bank Ltd. 2.67Axis Bank Ltd. 2.13State Bank of India 2.09Canara Bank #Bank of India #


Industrial Capital Goods 8.02Bharat Heavy Electricals Ltd. 3.79Bharat Electronics Ltd. 2.14BEML LIMITED 1.09Suzlon Energy Ltd. 1.01


ITC Ltd. 3.90Nestle India Ltd. 2.26

Cement 5.10ACC Ltd. 2.29Ultratech Cement Ltd. 1.80Jaiprakash Associates Ltd. 1.01

Pharmaceuticals 4.99Sun Pharmaceu ti cal In dustri es Ltd. 2.5 5Dr.Reddy's Laboratories Ltd. 2.44


Power 3.68NTPC Ltd. 1.95Reliance Infrastructure Ltd. 1.73


Fertilisers 2.69Chambal Ferti li se rs & Chemica ls Lt d. 1 .44

Tata Chemicals Ltd.

FinanceHDFC Ltd.Rura l E lect ri fi ca tion Corpora tion Ltd

Auto AncillariesBosch Ltd.

TransportationThe Great Eastern Shipping Compa


Industrial ProductsSintex Industries Ltd.

Non - Ferrous MetalsHindustan Zinc Ltd



Total Net Assets


An open-ended growth scheme with the objective to provide medium to longterm capital appreciation, by investing preddiversified portfolio of equity and equity related securities of top 100 companies as measured by market capitalization.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Top 100 Fund...


Date of First Installment : November 01, 2005

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for returns. Past performance may or may not be sustained in future.


Investment PeriodTotal Investment

(Rs.) Birla Sun Life Top100 Fund

Birla S10

S&P CNX NIFTY S&P CNX NIFTY


Since Inception 42000 39443 37850 -3.49 -

Last 3 years 36000 32213 31219 -7.11 -

Last 1 year 12000 11972 11817 -0.44 -



Birla Sun Life Top 100 Fund - Growth S&P CNX Nifty

%R

eturns




-29.70

-3.30

7.95

-32.83

-0.79

11.55

-40

-30

-20

-10

0

10

20

1 Year 3 Years

Since Inception

# Indicates less than 0.01


16/52

Birla Sun Life Buy India FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


6

Fund Details

Fund Manager :Managing Fund Since : Sep tember 12,2007Total Experience : 15 yearsDate of inception : January 15, 2000Nature of the scheme : An Open-ended Growth Scheme









Mr. Ajay Garg

Key Features



Other Parameter






E.I.D. Parry (India) Ltd. 3.84

Tata Tea Ltd. 3.44

United Spirits Ltd. 3.07

Radico Khaitan Ltd. 2.76

ITC Ltd. 2.40

Shaw Wallace & Company Ltd. 2.35

United Breweries Holdings Ltd. 1.07


Glaxosmithkline Pharmaceut icals Ltd. 5.84

Sun Ph armaceu ti cal In dustri es Ltd. 4.85

Aventis Pharma Ltd. 4.69

Pfizer Ltd. 1.43

Banks 15.40

State Bank of India 5.52

ICICI Bank Ltd. 3.23

Axis Bank Ltd. 2.11

Kotak Mahindra Bank Ltd. 1.66

ING Vysya Bank Ltd. 1.48

HDFC Bank Ltd. 1.40

Finance 8.14

HDFC Ltd. 5.23


Auto 7.24

Maruti Suzuki India Ltd. 7.24




Pesticides 5.31

Rallis India Ltd. 5.31

Gas 4.62

Indraprastha Gas Ltd. 4.62

Auto Ancillaries 4.58

Bosch Ltd. 4.58

Hotels

Asian Hotels Ltd.

Taj GVK Hotels & Resorts Ltd.

Indian Hotels Co. Ltd.

Media & Entertainment

Television Eighteen India Ltd.

PVR Ltd.

UTV Software Communicatio ns Ltd.


Transportation

Jet Airways India Ltd.



Total Net Assets


** Represents thinly traded/ non traded securities and illiquid securities.# Indicates less than 0.01

A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target alloequity, focusing on investing in businesses that are driven by India's large population and inherent consumption patterns. Tscheme will be in the consumer and healthcare sectors.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Buy India Fund...



The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered forreturns. Past performance may or may not be sustained in future.



Buy India FundBirl

Buy BSE 200 BSE 200


Since Inception 110000 223876 258749 14.95

Last 5 years 60000 66812 67655 4.26

Last 3 years 36000 30468 30370 -10.58

Last 1 year 12000 11693 11787 -4.77



Birla Sun Life Buy India Fund - Growth BSE 200

%R

eturns



3 years history of monthly returns, source: MFI Explorer##Risk-free rate assumed to be 3.28%(91 day T- bill yield as on April 29, 2009)


#Value Research Rating

Birla Sun Life Buy India FundEquity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

-29.32

-5.83

18.31

8.45

-38.00

-3.71

12.168.2

-50

-40

-30

-20

-10

0

10

20

30

1 Year 3 Years



17/52

Birla Sun Life MNC FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


Fund Details

Fund Manager :Managing Fund Since : Sep tember 12, 2007Total Experience : 18 yearsDate of inception : December 27, 1999Nature of the scheme : An Open-ended Growth Scheme




Benchmark : S & P CNX MNCAverage AUM : Rs. 114.99 Crores





Mr. A.Balasubramaniam

Key Features



Other Parameter






Pfizer Ltd. 7.50

Glaxosmithkline Pharmaceuticals Ltd. 4.46

Fulford (India) Ltd. 3.48

Wyeth Ltd. 3.34


Glaxosmithkline Consumer Healthcare Ltd. 6.98

Colgate-Palmolive (India) Ltd. 5.63

ITC Ltd. 2.87

Kansai Nerolac Paints Ltd. 2.06

Industrial Capital Goods 11.99

Areva T&D India Ltd. 3.23

Alstom Projects India Ltd. 2.76

Honeywell Automation India Ltd. 2.57

ABB Ltd. 1.85

Siemens Ltd. 1.59

Finance 10.44

CRISIL Ltd. 6.50

ICRA Ltd. 3.94

Auto Ancillaries 6.71

Bosch Ltd. 4.57

Wabco TVS India Ltd 0.96

Federal-Mogul Goetze (India ) Ltd. 0.65

Sundaram-Clayton Ltd. 0.53

Banks 6.05

ING Vysya Bank Ltd. 3.70

Yes Bank Ltd. 2.35



Gas 4.99

Gujarat Gas Company Ltd. 4.99


Cummins India Ltd. 4.01

FAG Bearings India Ltd. 0.97

Auto

Maruti Suzuki India Ltd.

Oil

Cairn India Ltd.

Diversified

Hindustan Unilever Ltd.

Construction

ITD Cementation India Ltd.



Total Net Assets


An open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderateby making investments in securities of multi-national companies through a research based investment approac

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life MNC Fund...


Date of First Installment : January 01, 2000

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered forreturns. Past performance may or may not be sustained in future.



MNC FundBirlMN

S & P CNX MNC S & P CNX MNC


Since Inception 112000 169763 226231 8.67

Last 5 years 60000 65595 64108 3.53

Last 3 years 36000 30428 31081 -10.66

Last 1 year 12000 11761 12154 -3.72



Birla Sun Life MNC Fund - Growth S&P CNX MNC

%R

eturns




5-Star Award by @ICRABirla Sun Life MNC Fund

Open Ended Diversified Equity - Aggressive (51 Schemes), 1 year ended 31-Dec-08


-23.82

-7.32

12.0310.41

-25.74

-9.29

12.27

4.67

-30

-20

-10

0

10

20

1 Year 3 Years



18/52

Birla Sun Life India Opportunities FundM a y 2 0 0 9


Large

Mid

Small

Investment Style


8

Fund Details

Fund Manager :Managing Fund Since : Sep tember 12, 2007Total Experience : 9 yearsDate of inception : December 27, 1999Nature of the scheme : An Open-ended Growth Scheme




Benchmark : S & P CNX 500Average AUM : Rs. 30.35 Crores





Mr. Atul Penkar

Key Features



Other Parameter





Software 18.14

Infosys Technologies Ltd. 4.62

Mphasis Ltd. 3.46

Tata Consultancy Services Ltd. 3.37

MindTree Ltd. 2.36

Infotech Enterprises Ltd. 2.25


Tech Mahindra Ltd. 1.01

Industrial Capital Goods 11.29

Honeywell Automation India Ltd. 4.75

Bharat Heavy Electricals Ltd. 2.68

AIA Engineering Ltd. 2.10

Suzlon Energy Ltd. 1.18

Golden Laminates Ltd. ** 0.59

Petroleum Products 10.50

Reliance Industries Ltd. 10.50


Sun Ph armaceu ti cal Ind ustrie s Ltd. 2.90

Dr.Reddys Laboratories Ltd. 1.68

Aventis Pharma Ltd. 1.26

Dishman Pharmaceuticals & Chemicals Ltd. 0.98

Non - Ferrous Metals 4.35

Sterlite Industries (India) Ltd. 2.13

Hindalco Industries Ltd. 1.25

Hindustan Zinc Ltd 0.97



Finance 2.92

CRISIL Ltd. 2.92

Power 2.84

KEC International Ltd. 2.84

Ferrous Metals 2.77

Tata Steel Ltd. 1.84

Welspun Gujarat Stahl Rohren Ltd. 0.93


Cummins India Ltd. 2.19

Construction Project 3.81Voltas Ltd. 2.02

Punj Lloyd Ltd. 1.79

Hardware 1.67

Allied Digital Services Ltd. 1.67

Fertilisers

Tata Chemicals Ltd.

Consumer Non Durables

Marico Ltd.

Terai Tea Company Ltd.**

Textile Products

Raymond Ltd.

Construction

TeleCanor Global Ltd.

Media & Entertainment


Future and Options

CNX Nifty Futures MAY 2009



Total Net Assets


An open-ended growth scheme with the objective to achieve superior long-term growth of capital by investing in shares of comone or more of the following: Leverage India's intellectual capital for providing services, research and creative inputs; Seek to uimpending changes in patent laws / import tariffs / quotas to supply goods and services; Leverage India's lower labour cosservices and manufactured goods; Leverage India's large population of English speaking people for providing services.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life India Opportunities Fund..


Date of First Installment : January 01, 2000

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for returns. Past performance may or may not be sustained in future.


Investment Period Total Investment(Rs.) Birla Sun Life India

Opportunities FundBirla SOpport

S & P CNX 500 S & P CNX 500


Since Inception 112000 225176 156623 14.42

Last 5 years 60000 65871 46882 3.70

Last 3 years 36000 30397 23888 -10.73 -

Last 1 year 12000 11767 10865 -3.63 -



B ir la Su n L if e I nd ia

frees you to enjoy the ride up saves you on

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