FundsIndia VIP Backtest

Back-testing Value investing protocol wit
Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
%
Target
NAV on appreciation Portfolio
10th
of NAV
Value
43.51
0
7,500
45.11
3.677%
15,094
48.256
6.974%
22,782
49.45
2.474%
30,567
51.77
4.692%
38,449
55.34
6.896%
46,430
51.88
-6.252%
54,510
52.42
1.041%
62,692
55.08
5.074%
70,975
57.76
4.866%
79,362
62.7
8.553%
87,855
66.32
5.774%
96,453
69.57
4.900%
105,158
69.18
-0.561%
113,973
77.58
12.142%
122,898
81.04
4.460%
131,934
85.53
5.540%
141,083
92.12
7.705%
150,346
98.54
6.969%
159,726
104.44
5.987%
169,222
78.38
-24.952%
178,838
86.61
10.500%
188,573
90.56
4.561%
198,430
95.73
5.709%
208,411
101.29
5.808%
218,516
106.96
5.598%
228,747
106.42
-0.505%
239,107
107.83
1.325%
249,595
110.97
2.912%
260,215
101.74
-8.318%
270,968
105.72
3.912%
281,855
111.18
5.165%
292,878
115.96
4.299%
304,039
122.98
6.054%
315,340
123.5
0.423%
326,782
128.82
4.308%
338,366
147.301
14.346%
350,096
153.153
3.973%
361,972
164.396
7.341%
373,997
168.422
2.449%
386,172
139.742
-17.029%
398,499
135.151
-3.285%
410,980
132.421
-2.020%
423,617
139.77
5.550%
436,413
127.015
-9.126%
449,368
119.266
-6.101%
462,485
134.292
12.599%
475,766
131.072
-2.398%
489,213
98.228
-25.058%
502,828
Actual
Portfolio
Value
0.00
7,775.80
16,146.45
23,346.16
32,001.25
41,100.66
43,526.76
55,077.13
65,872.33
74,427.69
86,149.21
92,925.43
101,178.02
104,567.52
127,810.22
134,555.04
143,065.43
155,165.53
167,048.97
178,110.76
134,418.82
165,107.99
188,322.12
209,756.23
222,996.96
236,535.83
236,336.61
242,271.58
256,860.70
238,569.34
263,488.80
292,871.59
306,506.12
326,121.96
328,505.14
343,699.20
394,151.04
410,849.67
442,083.66
453,934.62
377,465.38
379,571.56
386,601.36
423,889.13
396,583.71
386,473.59
452,054.16
455,855.32
352,868.47
Total
VIP
invested
Amount
amount
7,500
7,500
7,318
14,818
6,636
21,454
7,221
28,675
6,448
35,123
5,329
40,452
10,983
51,435
7,614
59,049
5,102
64,151
4,934
69,085
1,704
70,789
3,526
74,315
3,979
78,294
9,404
87,698
1,000
88,698
1,000
89,698
1,000
90,698
1,000
91,698
1,000
92,698
1,000
93,698
15,000
108,698
15,000
123,698
10,106
133,804
1,000
134,804
1,000
135,804
1,000
136,804
2,767
139,571
7,321
146,892
3,352
150,244
15,000
165,244
15,000
180,244
1,000
181,244
1,000
182,244
1,000
183,244
1,000
184,244
1,000
185,244
1,000
186,244
1,000
187,244
1,000
188,244
1,000
189,244
15,000
204,244
15,000
219,244
15,000
234,244
12,520
246,764
15,000
261,764
15,000
276,764
15,000
291,764
15,000
306,764
15,000
321,764
49
50
51
52
53
54
55
56
57
58
59
60
98.71
90.241
88.378
90.734
80.226
102.33
110.933
147.638
136.853
149.572
161.054
174.638
0.491%
-8.580%
-2.064%
2.666%
-11.581%
27.552%
8.407%
33.088%
-7.305%
9.294%
7.677%
8.434%
516,613
530,571
544,703
559,012
573,500
588,168
603,021
618,058
633,284
648,700
664,309
680,113
369,673.58
351,669.83
359,100.03
384,072.87
352,855.82
469,208.07
524,915.99
718,560.91
666,996.77
730,079.82
787,201.67
854,682.06
15,000
15,000
15,000
15,000
15,000
15,000
15,000
1,000
1,000
1,000
1,000
1,000
336,764
351,764
366,764
381,764
396,764
411,764
426,764
427,764
428,764
429,764
430,764
431,764
vesting protocol with HDFC Top 200 fund between Oct 2004 and Oct 2009
SIP Investing
Units
Total no. of
Cum SIP
bought
units
SIP Amount investment
172
172
7,500
7,500
162
334
7,500
15,000
138
472
7,500
22,500
146
618
7,500
30,000
125
742
7,500
37,500
96
839
7,500
45,000
212
1,050
7,500
52,500
145
1,196
7,500
60,000
93
1,288
7,500
67,500
85
1,374
7,500
75,000
27
1,401
7,500
82,500
53
1,454
7,500
90,000
57
1,511
7,500
97,500
136
1,647
7,500
105,000
13
1,660
7,500
112,500
12
1,672
7,500
120,000
12
1,684
7,500
127,500
11
1,695
7,500
135,000
10
1,705
7,500
142,500
10
1,715
7,500
150,000
191
1,906
7,500
157,500
173
2,079
7,500
165,000
112
2,191
7,500
172,500
10
2,201
7,500
180,000
10
2,211
7,500
187,500
9
2,220
7,500
195,000
26
2,246
7,500
202,500
68
2,314
7,500
210,000
30
2,345
7,500
217,500
147
2,492
7,500
225,000
142
2,634
7,500
232,500
9
2,643
7,500
240,000
9
2,651
7,500
247,500
8
2,660
7,500
255,000
8
2,668
7,500
262,500
8
2,675
7,500
270,000
7
2,682
7,500
277,500
7
2,689
7,500
285,000
6
2,695
7,500
292,500
6
2,701
7,500
300,000
107
2,808
7,500
307,500
111
2,919
7,500
315,000
113
3,032
7,500
322,500
90
3,122
7,500
330,000
118
3,240
7,500
337,500
126
3,366
7,500
345,000
112
3,478
7,500
352,500
114
3,592
7,500
360,000
153
3,745
7,500
367,500
Units
Cumulative
bought
Units
172.37
172.37
166.26
338.63
155.42
494.05
151.67
645.72
144.87
790.59
135.53
926.12
144.56
1070.68
143.08
1213.76
136.17
1349.92
129.85
1479.77
119.62
1599.39
113.09
1712.48
107.81
1820.28
108.41
1928.69
96.67
2025.37
92.55
2117.91
87.69
2205.60
81.42
2287.02
76.11
2363.13
71.81
2434.94
95.69
2530.63
86.60
2617.22
82.82
2700.04
78.35
2778.39
74.04
2852.43
70.12
2922.55
70.48
2993.03
69.55
3062.58
67.59
3130.17
73.72
3203.88
70.94
3274.83
67.46
3342.28
64.68
3406.96
60.99
3467.95
60.73
3528.68
58.22
3586.90
50.92
3637.81
48.97
3686.78
45.62
3732.41
44.53
3776.94
53.67
3830.61
55.49
3886.10
56.64
3942.74
53.66
3996.40
59.05
4055.45
62.88
4118.33
55.85
4174.18
57.22
4231.40
76.35
4307.75
Portfolio
Value
7,500
15,276
23,841
31,931
40,929
51,251
55,547
63,625
74,354
85,472
100,282
113,571
126,637
133,427
157,128
171,636
188,645
210,680
232,863
254,305
198,351
226,678
244,516
265,975
288,923
312,596
318,518
330,238
347,355
325,963
346,215
371,595
395,071
426,488
435,792
462,064
535,854
564,642
613,593
636,119
535,297
525,210
522,101
558,576
515,102
491,177
560,559
554,618
423,142
152
166
170
165
187
147
135
7
7
7
6
6
3,897
4,063
4,233
4,398
4,585
4,731
4,867
4,873
4,881
4,887
4,894
4,899
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
375,000
382,500
390,000
397,500
405,000
412,500
420,000
427,500
435,000
442,500
450,000
457,500
75.98
83.11
84.86
82.66
93.49
73.29
67.61
50.80
54.80
50.14
46.57
42.95
4383.73
4466.84
4551.71
4634.37
4727.85
4801.14
4868.75
4919.55
4974.35
5024.50
5071.07
5114.01
432,718
403,092
402,271
420,494
379,297
491,301
540,105
726,313
680,755
751,524
816,715
893,101
and Oct 2009

Difference
Annualized
VIP Return SIP Return Difference difference
1.8612%
1.8374%
6.1921%
5.9597%
6.5986%
6.4361%
9.4703%
9.1438%
14.7772% 13.8918%
5.9780%
5.8037%
6.1680%
6.0419%
10.6364% 10.1537%
14.8754% 13.9620%
24.1057% 21.5534%
29.7873% 26.1904%
34.3104% 29.8840%
29.9591% 27.0733%
45.2234% 39.6693%
51.1238% 43.0298%
58.8408% 47.9570%
70.3042% 56.0594%
81.2865% 63.4125%
91.1575% 69.5368%
37.4623% 25.9369%
45.6030% 37.3805%
48.2976% 41.7483%
56.3427% 47.7639%
64.9414% 54.0922%
73.6322% 60.3057%
71.3132% 57.2928%
69.9157% 57.2563%
73.1934% 59.7033%
53.4515% 44.8725%
54.5066% 48.9095%
62.1414% 54.8313%
68.7332% 59.6248%
78.5171% 67.2503%
78.8417% 66.0158%
86.0785% 71.1349%
112.1685% 93.1004%
119.9535% 98.1200%
135.3773% 109.7752%
140.3958% 112.0397%
92.1552% 74.0802%
79.9691% 66.7334%
71.4457% 61.8919%
76.8528% 69.2656%
57.2347% 52.6229%
45.0599% 42.3701%
60.0794% 59.0238%
53.4911% 54.0605%
14.3287% 15.1406%
0.0238%
0.2323%
0.1625%
0.3265%
0.8854%
0.1742%
0.1261%
0.4827%
0.9134%
2.5523%
3.5969%
4.4265%
2.8858%
5.5540%
8.0940%
10.8838%
14.2448%
17.8740%
21.6207%
11.5254%
8.2225%
6.5493%
8.5788%
10.8492%
13.3265%
14.0204%
12.6595%
13.4901%
8.5789%
5.5970%
7.3101%
9.1084%
11.2669%
12.8259%
14.9436%
19.0681%
21.8335%
25.6021%
28.3561%
18.0749%
13.2357%
9.5539%
7.5872%
4.6117%
2.6898%
1.0557%
-0.5695%
-0.8120%
0.2864%
1.4022%
0.6516%
0.9828%
2.1380%
0.3488%
0.2163%
0.7249%
1.2198%
3.0705%
3.9303%
4.4265%
2.6609%
4.7421%
6.4244%
8.0565%
9.8565%
11.5866%
13.1589%
6.7639%
4.6189%
3.5208%
4.3878%
5.2849%
6.1889%
6.2428%
5.4406%
5.5731%
3.4645%
2.2023%
2.7687%
3.3230%
3.9586%
4.3511%
4.8909%
5.9901%
6.6145%
7.4638%
7.9839%
5.1108%
3.7051%
2.6413%
2.0619%
1.2372%
0.7103%
0.2743%
-0.1457%
-0.2036%
14.2265% 15.3915%
4.2375%
5.3836%
2.0002%
3.1463%
4.5339%
5.7848%
-7.2860%
-6.3465%
17.5936% 19.1033%
26.5140% 28.5965%
68.2145% 69.8977%
55.7959% 56.4955%
70.1119% 69.8360%
82.9776% 81.4923%
98.1828% 95.2133%
Average:
-1.1651%
-1.1462%
-1.1461%
-1.2509%
-0.9395%
-1.5097%
-2.0825%
-1.6833%
-0.6996%
0.2759%
1.4853%
2.9695%
6.788%
-0.2866%
-0.2763%
-0.2709%
-0.2901%
-0.2135%
-0.3375%
-0.4581%
-0.3631%
-0.1477%
0.0570%
0.3003%
0.5870%
1.3222%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
%
Target
10th
of NAV
Value
14.1
0
7,500
14.6324
3.776%
15,094
15.3372
4.817%
22,782
15.4879
0.983%
30,567
16.1264
4.123%
38,449
16.9305
4.986%
46,430
15.6873
-7.343%
54,510
15.555
-0.843%
62,692
16.4086
5.488%
70,975
17.5567
6.997%
79,362
18.7075
6.555%
87,855
19.7589
5.620%
96,453
20.3684
3.085%
105,158
19.8356
-2.616%
113,973
21.9947
10.885%
122,898
22.7803
3.572%
131,934
23.9791
5.262%
141,083
25.2038
5.107%
150,346
27.5241
9.206%
159,726
29.7034
7.918%
169,222
22.0342
-25.819%
178,838
24.9582
13.270%
188,573
25.8989
3.769%
198,430
26.7777
3.393%
208,411
28.3649
5.927%
218,516
30.4434
7.328%
228,747
30.5344
0.299%
239,107
30.6354
0.331%
249,595
32.3432
5.575%
260,215
29.7575
-7.995%
270,968
30.6558
3.019%
281,855
32.3917
5.663%
292,878
33.0191
1.937%
304,039
35.1272
6.384%
315,340
34.5662
-1.597%
326,782
35.9809
4.093%
338,366
43.3313
20.429%
350,096
44.7174
3.199%
361,972
47.2264
5.611%
373,997
48.7213
3.165%
386,172
38.4126
-21.159%
398,499
37.9457
-1.215%
410,980
37.3209
-1.647%
423,617
39.5114
5.869%
436,413
35.1042
-11.154%
449,368
32.8769
-6.345%
462,485
36.5101
11.051%
475,766
34.8034
-4.675%
489,213
26.0375
-25.187%
502,828
Actual
Portfolio
Value
0.00
7,783.19
15,821.23
23,007.10
31,828.29
40,367.51
43,021.14
54,051.41
66,132.74
75,941.87
84,564.92
92,792.54
99,428.83
102,408.07
126,379.01
131,928.69
139,923.99
148,288.61
164,187.75
178,266.96
132,981.55
167,619.11
189,502.21
205,163.34
220,763.48
238,013.69
239,728.14
241,524.40
263,509.34
243,362.96
266,162.25
297,083.20
303,856.82
324,320.36
320,124.83
340,156.11
410,849.58
425,024.00
449,927.32
465,200.93
367,559.77
377,909.81
386,440.30
425,002.30
387,734.67
377,181.86
435,521.57
429,461.50
332,515.40
Total
VIP
invested
Amount
amount
7,500
7,500
7,311
14,811
6,962
21,773
7,561
29,334
6,622
35,956
6,063
42,019
11,490
53,509
8,641
62,150
4,843
66,993
3,421
70,414
3,290
73,704
3,661
77,365
5,730
83,095
11,565
94,660
1,000
95,660
1,000
96,660
1,159
97,819
2,058
99,877
1,000
100,877
1,000
101,877
15,000
116,877
15,000
131,877
8,928
140,805
3,247
144,052
1,000
145,052
1,000
146,052
1,000
147,052
8,071
155,123
1,000
156,123
15,000
171,123
15,000
186,123
1,000
187,123
1,000
188,123
1,000
189,123
6,657
195,780
1,000
196,780
1,000
197,780
1,000
198,780
1,000
199,780
1,000
200,780
15,000
215,780
15,000
230,780
15,000
245,780
11,411
257,191
15,000
272,191
15,000
287,191
15,000
302,191
15,000
317,191
15,000
332,191
49
50
51
52
53
54
55
56
57
58
59
60
24.8596
23.0289
21.8356
23.1261
20.6393
26.6014
36.5733
31.5175
34.9309
37.939
39.7682
36.8542
-4.524%
-7.364%
-5.182%
5.910%
-10.753%
28.887%
37.486%
-13.824%
10.830%
8.612%
4.821%
-7.327%
516,613
530,571
544,703
559,012
573,500
588,168
603,021
618,058
633,284
648,700
664,309
680,113
331,794.29
321,255.81
318,831.88
353,561.58
328,929.35
443,280.65
630,073.44
543,835.45
619,358.30
687,820.04
722,030.98
670,051.15
15,000
15,000
15,000
15,000
15,000
15,000
1,000
15,000
13,926
1,000
1,000
10,062
347,191
362,191
377,191
392,191
407,191
422,191
423,191
438,191
452,117
453,117
454,117
464,179
vesting protocol with FT-Nifty Index fund between Oct 2004 and Oct 2009
SIP Investing
Units
Total no. of
Cum SIP
bought
units
532
532
7,500
7,500
500
1,032
7,500
15,000
454
1,486
7,500
22,500
488
1,974
7,500
30,000
411
2,384
7,500
37,500
358
2,743
7,500
45,000
732
3,475
7,500
52,500
556
4,030
7,500
60,000
295
4,326
7,500
67,500
195
4,520
7,500
75,000
176
4,696
7,500
82,500
185
4,882
7,500
90,000
281
5,163
7,500
97,500
583
5,746
7,500
105,000
45
5,791
7,500
112,500
44
5,835
7,500
120,000
48
5,884
7,500
127,500
82
5,965
7,500
135,000
36
6,002
7,500
142,500
34
6,035
7,500
150,000
681
6,716
7,500
157,500
601
7,317
7,500
165,000
345
7,662
7,500
172,500
121
7,783
7,500
180,000
35
7,818
7,500
187,500
33
7,851
7,500
195,000
33
7,884
7,500
202,500
263
8,147
7,500
210,000
31
8,178
7,500
217,500
504
8,682
7,500
225,000
489
9,172
7,500
232,500
31
9,203
7,500
240,000
30
9,233
7,500
247,500
28
9,261
7,500
255,000
193
9,454
7,500
262,500
28
9,482
7,500
270,000
23
9,505
7,500
277,500
22
9,527
7,500
285,000
21
9,548
7,500
292,500
21
9,569
7,500
300,000
390
9,959
7,500
307,500
395
10,355
7,500
315,000
402
10,757
7,500
322,500
289
11,045
7,500
330,000
427
11,473
7,500
337,500
456
11,929
7,500
345,000
411
12,340
7,500
352,500
431
12,771
7,500
360,000
576
13,347
7,500
367,500
Units
Cumulative
bought
Units
531.91
531.91
512.56
1044.47
489.01
1533.48
484.25
2017.73
465.08
2482.80
442.99
2925.79
478.09
3403.88
482.16
3886.04
457.08
4343.12
427.19
4770.31
400.91
5171.22
379.58
5550.79
368.22
5919.01
378.11
6297.12
340.99
6638.11
329.23
6967.34
312.77
7280.11
297.57
7577.69
272.49
7850.18
252.50
8102.67
340.38
8443.05
300.50
8743.56
289.59
9033.14
280.08
9313.23
264.41
9577.64
246.36
9824.00
245.62
10069.62
244.81
10314.44
231.89
10546.33
252.04
10798.36
244.65
11043.01
231.54
11274.56
227.14
11501.70
213.51
11715.21
216.97
11932.18
208.44
12140.62
173.09
12313.71
167.72
12481.43
158.81
12640.24
153.94
12794.18
195.25
12989.42
197.65
13187.08
200.96
13388.04
189.82
13577.85
213.65
13791.50
228.12
14019.63
205.42
14225.05
215.50
14440.55
288.05
14728.59
Portfolio
Value
7,500
15,283
23,519
31,250
40,039
49,535
53,398
60,447
71,265
83,751
96,741
109,678
120,561
124,907
146,003
158,718
174,571
190,987
216,069
240,677
186,036
218,223
233,948
249,387
271,669
299,076
307,470
315,987
341,102
321,332
338,532
365,202
379,776
411,522
412,450
436,831
533,569
558,137
596,953
623,349
498,958
500,393
499,654
536,480
484,140
460,922
519,358
502,580
383,496
603
651
687
649
727
564
27
476
399
26
25
273
13,950
14,602
15,289
15,937
16,664
17,228
17,255
17,731
18,130
18,156
18,181
18,454
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
375,000
382,500
390,000
397,500
405,000
412,500
420,000
427,500
435,000
442,500
450,000
457,500
301.69
325.68
343.48
324.31
363.38
281.94
205.07
237.96
214.71
197.69
188.59
203.50
15030.29
15355.96
15699.44
16023.75
16387.13
16669.07
16874.14
17112.10
17326.81
17524.50
17713.09
17916.60
373,647
353,631
342,807
370,567
338,219
443,421
617,143
539,331
605,241
664,862
704,418
660,302
and Oct 2009

Difference
Annualized
1.9120%
1.8875%
4.6399%
4.5301%
4.2071%
4.1679%
6.9371%
6.7698%
10.4988% 10.0780%
1.8728%
1.7100%
0.8727%
0.7457%
5.9450%
5.5771%
12.7089% 11.6679%
19.1997% 17.2613%
24.6734% 21.8640%
26.5525% 23.6521%
20.4026% 18.9592%
33.1581% 29.7807%
37.5219% 32.2651%
44.2286% 36.9181%
50.5318% 41.4715%
63.7516% 51.6274%
75.9641% 60.4513%
26.6131% 18.1181%
38.4768% 32.2566%
40.9255% 35.6223%
44.6772% 38.5482%
52.8855% 44.8900%
63.6497% 53.3723%
63.7027% 51.8370%
60.9016% 50.4700%
69.4237% 56.8285%
50.9808% 42.8143%
51.0626% 45.6053%
59.2980% 52.1675%
62.0519% 53.4447%
72.0152% 61.3813%
66.9128% 57.1239%
73.3693% 61.7891%
108.2362% 92.2771%
114.3194% 95.8376%
125.7119% 104.0865%
132.1949% 107.7830%
77.2916% 62.2626%
70.2530% 58.8549%
63.3332% 54.9313%
69.6845% 62.5697%
47.9603% 43.4488%
36.5579% 33.6005%
49.0850% 47.3356%
40.1242% 39.6056%
4.6131%
4.3526%
0.0246%
0.1098%
0.0392%
0.1673%
0.4209%
0.1628%
0.1270%
0.3679%
1.0411%
1.9384%
2.8094%
2.9004%
1.4434%
3.3774%
5.2568%
7.3105%
9.0602%
12.1242%
15.5128%
8.4950%
6.2202%
5.3032%
6.1289%
7.9955%
10.2775%
11.8658%
10.4317%
12.5952%
8.1665%
5.4573%
7.1305%
8.6071%
10.6339%
9.7889%
11.5802%
15.9591%
18.4818%
21.6254%
24.4119%
15.0290%
11.3981%
8.4019%
7.1148%
4.5115%
2.9573%
1.7494%
0.5187%
0.2606%
0.2952%
0.6606%
0.1569%
0.5026%
1.0130%
0.3259%
0.2179%
0.5523%
1.3905%
2.3305%
3.0687%
2.9004%
1.3316%
2.8880%
4.1838%
5.4342%
6.3134%
7.9277%
9.5358%
5.0137%
3.5084%
2.8587%
3.1522%
3.9209%
4.8078%
5.3115%
4.5088%
5.2156%
3.3017%
2.1482%
2.7021%
3.1447%
3.7431%
3.3510%
3.8283%
5.0594%
5.6543%
6.3775%
6.9519%
4.2899%
3.2097%
2.3318%
1.9366%
1.2107%
0.7802%
0.4535%
0.1322%
0.0651%
-0.1143%
-0.3608%
-7.1606%
-7.5475%
-11.4953% -12.1008%
-6.0250%
-6.7756%
-15.5361% -16.4891%
8.5482%
7.4959%
49.1226% 46.9388%
27.5324% 26.1592%
40.0709% 39.1359%
52.0181% 50.2513%
59.2169% 56.5373%
46.5196% 44.3283%
Average:
0.2466%
0.3868%
0.6056%
0.7507%
0.9530%
1.0523%
2.1838%
1.3732%
0.9350%
1.7668%
2.6796%
2.1913%
5.873%
0.0603%
0.0927%
0.1422%
0.1727%
0.2150%
0.2329%
0.4724%
0.2927%
0.1961%
0.3630%
0.5393%
0.4345%
1.1480%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
%
Target
10th
of NAV
Value
23.13
0
7,500
23.93
3.459%
15,094
25.38
6.059%
22,782
26.06
2.679%
30,567
27.11
4.029%
38,449
28.32
4.463%
46,430
26.39
-6.815%
54,510
26.48
0.341%
62,692
27.56
4.079%
70,975
29.21
5.987%
79,362
31.33
7.258%
87,855
33.3
6.288%
96,453
34.49
3.574%
105,158
33.96
-1.537%
113,973
37.81
11.337%
122,898
39.62
4.787%
131,934
42.5
7.269%
141,083
46.16
8.612%
150,346
49.7
7.669%
159,726
53.39
7.425%
169,222
39.23
-26.522%
178,838
43.97
12.083%
188,573
45.91
4.412%
198,430
47.57
3.616%
208,411
50.71
6.601%
218,516
54.45
7.375%
228,747
55.159
1.302%
239,107
55.518
0.651%
249,595
58.328
5.061%
260,215
54.251
-6.990%
270,968
56.308
3.792%
281,855
59.711
6.044%
292,878
62.341
4.405%
304,039
66.395
6.503%
315,340
64.891
-2.265%
326,782
67.764
4.427%
338,366
79.983
18.032%
350,096
84.974
6.240%
361,972
90.058
5.983%
373,997
92.098
2.265%
386,172
72.948
-20.793%
398,499
71.896
-1.442%
410,980
71.125
-1.072%
423,617
75.623
6.324%
436,413
69.63
-7.925%
449,368
65.237
-6.309%
462,485
71.096
8.981%
475,766
68.486
-3.671%
489,213
54.978
-19.724%
502,828
Actual
Portfolio
Value
0.00
7,759.40
16,007.96
23,392.36
31,797.92
40,163.97
43,264.85
54,695.75
65,247.62
75,223.83
85,121.74
93,377.90
99,898.68
103,541.74
126,892.57
135,062.78
147,025.95
161,859.71
176,426.07
191,673.40
142,307.69
176,314.53
196,891.50
206,082.96
222,165.61
240,698.43
245,858.64
249,471.82
264,199.86
247,593.07
272,549.65
298,886.54
314,139.23
336,697.59
331,025.31
347,769.75
412,839.18
440,725.46
469,213.75
481,887.72
383,272.61
392,529.03
403,158.76
444,603.45
411,210.85
399,320.94
451,531.52
449,404.71
372,806.74
Total
VIP
invested
Amount
amount
7,500
7,500
7,334
14,834
6,774
21,608
7,174
28,782
6,650
35,432
6,265
41,697
11,245
52,942
7,995
60,937
5,727
66,664
4,138
70,802
2,732
73,534
3,074
76,608
5,259
81,867
10,430
92,297
2,000
94,297
2,000
96,297
2,000
98,297
2,000
100,297
2,000
102,297
2,000
104,297
15,000
119,297
12,257
131,554
2,000
133,554
2,326
135,880
2,000
137,880
2,000
139,880
2,000
141,880
2,000
143,880
2,000
145,880
15,000
160,880
9,303
170,183
2,000
172,183
2,000
174,183
2,000
176,183
2,000
178,183
2,000
180,183
2,000
182,183
2,000
184,183
2,000
186,183
2,000
188,183
15,000
203,183
15,000
218,183
15,000
233,183
2,000
235,183
15,000
250,183
15,000
265,183
15,000
280,183
15,000
295,183
15,000
310,183
49
50
51
52
53
54
55
56
57
58
59
60
53.776
50.086
49.945
51.661
47.567
57.161
58.567
76.139
69.72
75.841
81.307
86.812
-2.186%
-6.862%
-0.282%
3.436%
-7.925%
20.169%
2.460%
30.003%
-8.431%
8.779%
7.207%
6.771%
516,613
530,571
544,703
559,012
573,500
588,168
603,021
618,058
633,284
648,700
664,309
680,113
379,328.01
367,270.02
381,193.87
409,806.22
391,141.43
488,057.90
515,431.71
689,578.43
633,273.99
691,047.26
742,996.44
795,437.43
15,000
15,000
15,000
15,000
15,000
15,000
15,000
2,000
2,000
2,000
2,000
2,000
325,183
340,183
355,183
370,183
385,183
400,183
415,183
417,183
419,183
421,183
423,183
425,183
vesting protocol with DSPBR Equity fund between Oct 2004 and Oct 2009
SIP Investing
Units
Total no. of
Cum SIP
bought
units
324
324
7,500
7,500
306
630
7,500
15,000
267
897
7,500
22,500
275
1,173
7,500
30,000
245
1,418
7,500
37,500
221
1,639
7,500
45,000
426
2,065
7,500
52,500
302
2,367
7,500
60,000
208
2,575
7,500
67,500
142
2,717
7,500
75,000
87
2,804
7,500
82,500
92
2,896
7,500
90,000
152
3,049
7,500
97,500
307
3,356
7,500
105,000
53
3,409
7,500
112,500
50
3,459
7,500
120,000
47
3,506
7,500
127,500
43
3,550
7,500
135,000
40
3,590
7,500
142,500
37
3,627
7,500
150,000
382
4,010
7,500
157,500
279
4,288
7,500
165,000
44
4,332
7,500
172,500
49
4,381
7,500
180,000
39
4,420
7,500
187,500
37
4,457
7,500
195,000
36
4,493
7,500
202,500
36
4,529
7,500
210,000
34
4,564
7,500
217,500
276
4,840
7,500
225,000
165
5,005
7,500
232,500
33
5,039
7,500
240,000
32
5,071
7,500
247,500
30
5,101
7,500
255,000
31
5,132
7,500
262,500
30
5,161
7,500
270,000
25
5,186
7,500
277,500
24
5,210
7,500
285,000
22
5,232
7,500
292,500
22
5,254
7,500
300,000
206
5,459
7,500
307,500
209
5,668
7,500
315,000
211
5,879
7,500
322,500
26
5,905
7,500
330,000
215
6,121
7,500
337,500
230
6,351
7,500
345,000
211
6,562
7,500
352,500
219
6,781
7,500
360,000
273
7,054
7,500
367,500
Units
Cumulative
bought
Units
324.25
324.25
313.41
637.66
295.51
933.17
287.80
1220.97
276.65
1497.62
264.83
1762.45
284.20
2046.65
283.23
2329.88
272.13
2602.02
256.76
2858.78
239.39
3098.16
225.23
3323.39
217.45
3540.84
220.85
3761.69
198.36
3960.05
189.30
4149.35
176.47
4325.82
162.48
4488.30
150.91
4639.20
140.48
4779.68
191.18
4970.86
170.57
5141.43
163.36
5304.79
157.66
5462.46
147.90
5610.36
137.74
5748.10
135.97
5884.07
135.09
6019.16
128.58
6147.74
138.25
6285.99
133.20
6419.19
125.60
6544.79
120.31
6665.10
112.96
6778.06
115.58
6893.64
110.68
7004.31
93.77
7098.08
88.26
7186.35
83.28
7269.63
81.43
7351.06
102.81
7453.87
104.32
7558.19
105.45
7663.64
99.18
7762.81
107.71
7870.53
114.97
7985.49
105.49
8090.98
109.51
8200.50
136.42
8336.91
Portfolio
Value
7,500
15,259
23,684
31,818
40,600
49,913
54,011
61,695
71,712
83,505
97,065
110,669
122,124
127,747
149,730
164,397
183,847
207,180
230,568
255,187
195,007
226,069
243,543
259,849
284,501
312,984
324,559
334,172
358,586
341,021
361,451
390,796
415,509
450,029
447,335
474,640
567,726
610,653
654,688
677,018
543,745
543,404
545,076
587,047
548,025
520,950
575,237
561,619
458,347
279
299
300
290
315
262
256
26
29
26
25
23
7,333
7,632
7,932
8,223
8,538
8,800
9,057
9,083
9,112
9,138
9,163
9,186
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
375,000
382,500
390,000
397,500
405,000
412,500
420,000
427,500
435,000
442,500
450,000
457,500
139.47
149.74
150.17
145.18
157.67
131.21
128.06
98.50
107.57
98.89
92.24
86.39
8476.38
8626.12
8776.29
8921.47
9079.14
9210.35
9338.40
9436.91
9544.48
9643.37
9735.62
9822.01
455,826
432,048
438,332
460,892
431,867
526,473
546,922
718,517
665,441
731,363
791,574
852,668
nd Oct 2009
Difference
Annualized
1.7487%
5.4330%
6.1996%
8.5119%
11.3485%
2.9614%
2.8780%
6.4662%
12.0898%
19.4736%
25.9032%
28.4494%
23.4837%
36.6879%
42.3334%
51.6078%
63.3745%
74.4197%
85.6941%
31.8622%
43.3415%
48.9222%
53.3772%
62.5802%
73.5047%
74.6960%
74.7789%
82.4787%
63.2229%
65.6174%
74.7481%
81.4983%
92.2419%
86.9007%
94.1192%
127.7047%
140.3726%
153.0917%
157.1368%
96.0167%
86.7831%
79.3264%
89.8961%
70.3596%
56.2396%
66.5096%
57.3277%
25.0251%
1.7287%
5.2618%
6.0616%
8.2680%
10.9169%
2.8783%
2.8255%
6.2393%
11.3398%
17.6551%
22.9654%
25.2551%
21.6639%
33.0930%
36.9977%
44.1940%
53.4666%
61.8024%
70.1248%
23.8139%
37.0114%
41.1844%
44.3606%
51.7340%
60.5046%
60.2762%
59.1294%
64.8669%
51.5650%
55.4630%
62.8317%
67.8823%
76.4820%
70.4133%
75.7927%
104.5859%
114.2640%
123.8249%
125.6726%
76.8277%
72.5091%
69.0159%
77.8931%
62.3777%
50.9999%
63.1877%
56.0053%
24.7202%
0.0200%
0.1712%
0.1380%
0.2439%
0.4315%
0.0832%
0.0525%
0.2269%
0.7500%
1.8185%
2.9378%
3.1943%
1.8198%
3.5949%
5.3357%
7.4138%
9.9079%
12.6172%
15.5694%
8.0484%
6.3302%
7.7377%
9.0166%
10.8463%
13.0002%
14.4198%
15.6495%
17.6117%
11.6580%
10.1544%
11.9165%
13.6160%
15.7599%
16.4874%
18.3265%
23.1187%
26.1086%
29.2668%
31.4641%
19.1890%
14.2740%
10.3105%
12.0030%
7.9819%
5.2398%
3.3219%
1.3224%
0.3049%
0.2406%
1.0314%
0.5531%
0.7335%
1.0388%
0.1665%
0.0900%
0.3405%
1.0012%
2.1861%
3.2091%
3.1943%
1.6787%
3.0736%
4.2462%
5.5103%
6.8960%
8.2438%
9.5696%
4.7541%
3.5696%
4.1490%
4.6072%
5.2835%
6.0420%
6.4144%
6.6753%
7.1996%
4.6686%
3.9443%
4.4544%
4.9035%
5.4659%
5.5341%
5.9392%
7.1786%
7.8137%
8.4442%
8.7818%
5.4073%
3.9825%
2.8434%
3.2140%
2.1165%
1.3712%
0.8561%
0.3360%
0.0761%
21.2634% 21.5536%
12.3719% 12.9537%
11.5464% 12.3927%
14.7557% 15.9476%
5.4412%
6.6339%
25.7070% 27.6297%
27.7585% 30.2196%
65.7734% 68.0741%
51.5505% 52.9750%
64.5478% 65.2798%
76.0459% 75.9053%
87.5516% 86.3756%
Average:
-0.2901%
-0.5819%
-0.8463%
-1.1919%
-1.1928%
-1.9228%
-2.4611%
-2.3007%
-1.4245%
-0.7320%
0.1407%
1.1760%
7.320%
-0.0711%
-0.1400%
-0.1998%
-0.2763%
-0.2713%
-0.4305%
-0.5422%
-0.4975%
-0.3016%
-0.1519%
0.0286%
0.2341%
1.4229%
Average:
#DIV/0!
SIP
Back-testing Value investing protocol with Reli

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
%
Target
10th
of NAV
Value
91.91
0
7,500
95.16
3.536%
15,094
102.67
7.892%
22,782
108.94
6.107%
30,567
119.52
9.712%
38,449
125.03
4.610%
46,430
121.26
-3.015%
54,510
128.02
5.575%
62,692
134.42
4.999%
70,975
138.78
3.244%
79,362
159.17
14.692%
87,855
169.34
6.389%
96,453
173.23
2.297%
105,158
165.78
-4.301%
113,973
180.55
8.909%
122,898
196.96
9.089%
131,934
206.27
4.727%
141,083
220
6.656%
150,346
240.14
9.155%
159,726
259.84
8.204%
169,222
188.25
-27.552%
178,838
198.76
5.583%
188,573
204.79
3.034%
198,430
217.79
6.348%
208,411
240.8
10.565%
218,516
255.64
6.163%
228,747
253.48
-0.845%
239,107
266.75
5.235%
249,595
270.74
1.496%
260,215
253.07
-6.527%
270,968
262.28
3.639%
281,855
275.34
4.979%
292,878
290.43
5.480%
304,039
317.25
9.235%
315,340
308.98
-2.607%
326,782
321.28
3.981%
338,366
367.26
14.312%
350,096
396.23
7.888%
361,972
442.54
11.688%
373,997
463.56
4.750%
386,172
364.5
-21.369%
398,499
344.89
-5.380%
410,980
334.9
-2.897%
423,617
357.03
6.608%
436,413
327.94
-8.148%
449,368
306.6112
-6.504%
462,485
335.7294
9.497%
475,766
318.5668
-5.112%
489,213
229.8445
-27.850%
502,828
Actual
Portfolio
Value
0.00
7,765.21
16,285.44
24,173.75
33,535.32
40,220.83
45,028.87
57,547.63
65,824.67
73,276.78
91,021.86
97,901.51
101,173.42
100,634.98
124,126.20
136,498.79
143,998.15
154,649.69
169,898.72
184,918.47
134,695.02
158,052.49
178,302.57
205,573.35
230,428.27
245,690.71
244,606.32
258,464.13
263,345.15
247,092.51
271,630.87
295,888.53
313,159.50
343,170.82
335,199.05
349,582.60
400,756.24
433,447.36
485,224.07
509,319.00
401,266.88
380,625.03
384,165.45
425,542.08
400,853.29
388,806.72
442,155.36
433,785.43
323,796.65
Total
VIP
invested
Amount
amount
7,500
7,500
7,329
14,829
6,497
21,326
6,393
27,719
4,913
32,632
6,208
38,840
9,480
48,320
5,143
53,463
5,150
58,613
6,085
64,698
1,000
65,698
1,000
66,698
3,984
70,682
13,337
84,019
1,000
85,019
1,000
86,019
1,000
87,019
1,000
88,019
1,000
89,019
1,000
90,019
15,000
105,019
15,000
120,019
15,000
135,019
2,836
137,855
1,000
138,855
1,000
139,855
1,000
140,855
1,000
141,855
1,000
142,855
15,000
157,855
10,223
168,078
1,000
169,078
1,000
170,078
1,000
171,078
1,000
172,078
1,000
173,078
1,000
174,078
1,000
175,078
1,000
176,078
1,000
177,078
1,000
178,078
15,000
193,078
15,000
208,078
10,869
218,947
15,000
233,947
15,000
248,947
15,000
263,947
15,000
278,947
15,000
293,947
49
50
51
52
53
54
55
56
57
58
59
60
231.7706
206.7918
206.3527
205.2696
185.0774
238.2719
252.4979
339.2709
307.2102
343.0189
375.558
392.462
0.838%
-10.777%
-0.212%
-0.525%
-9.837%
28.742%
5.970%
34.366%
-9.450%
11.656%
9.486%
4.501%
516,613
530,571
544,703
559,012
573,500
588,168
603,021
618,058
633,284
648,700
664,309
680,113
341,635.77
318,199.78
332,492.26
345,668.35
325,189.70
437,966.21
480,010.51
665,124.98
603,176.96
690,232.23
756,803.18
791,912.17
15,000
15,000
15,000
15,000
15,000
15,000
15,000
1,000
15,000
1,000
1,000
1,000
308,947
323,947
338,947
353,947
368,947
383,947
398,947
399,947
414,947
415,947
416,947
417,947
g protocol with Reliance Growth - equity fund between Oct 2004 and Oct 20
SIP Investing
Units
Total no. of
Cum SIP
bought
units
82
82
7,500
7,500
77
159
7,500
15,000
63
222
7,500
22,500
59
281
7,500
30,000
41
322
7,500
37,500
50
372
7,500
45,000
78
450
7,500
52,500
40
490
7,500
60,000
38
528
7,500
67,500
44
572
7,500
75,000
6
579
7,500
82,500
6
584
7,500
90,000
23
607
7,500
97,500
80
688
7,500
105,000
6
693
7,500
112,500
5
699
7,500
120,000
5
703
7,500
127,500
5
708
7,500
135,000
4
712
7,500
142,500
4
716
7,500
150,000
80
796
7,500
157,500
75
871
7,500
165,000
73
944
7,500
172,500
13
957
7,500
180,000
4
961
7,500
187,500
4
965
7,500
195,000
4
969
7,500
202,500
4
973
7,500
210,000
4
977
7,500
217,500
59
1,036
7,500
225,000
39
1,075
7,500
232,500
4
1,079
7,500
240,000
3
1,082
7,500
247,500
3
1,085
7,500
255,000
3
1,088
7,500
262,500
3
1,092
7,500
270,000
3
1,094
7,500
277,500
3
1,097
7,500
285,000
2
1,099
7,500
292,500
2
1,101
7,500
300,000
3
1,104
7,500
307,500
43
1,148
7,500
315,000
45
1,192
7,500
322,500
30
1,223
7,500
330,000
46
1,268
7,500
337,500
49
1,317
7,500
345,000
45
1,362
7,500
352,500
47
1,409
7,500
360,000
65
1,474
7,500
367,500
Units
Cumulative
bought
Units
81.60
81.60
78.81
160.41
73.05
233.46
68.85
302.31
62.75
365.06
59.99
425.05
61.85
486.90
58.58
545.48
55.80
601.28
54.04
655.32
47.12
702.44
44.29
746.73
43.30
790.02
45.24
835.26
41.54
876.80
38.08
914.88
36.36
951.24
34.09
985.33
31.23
1016.56
28.86
1045.43
39.84
1085.27
37.73
1123.00
36.62
1159.63
34.44
1194.06
31.15
1225.21
29.34
1254.55
29.59
1284.14
28.12
1312.25
27.70
1339.95
29.64
1369.59
28.60
1398.19
27.24
1425.42
25.82
1451.25
23.64
1474.89
24.27
1499.16
23.34
1522.51
20.42
1542.93
18.93
1561.86
16.95
1578.80
16.18
1594.98
20.58
1615.56
21.75
1637.31
22.39
1659.70
21.01
1680.71
22.87
1703.58
24.46
1728.04
22.34
1750.38
23.54
1773.92
32.63
1806.55
Portfolio
Value
7,500
15,265
23,970
32,934
43,632
53,144
59,041
69,833
80,824
90,945
111,807
126,451
136,856
138,470
158,307
180,195
196,213
216,773
244,118
271,644
204,302
223,208
237,480
260,055
295,030
320,713
325,503
350,043
362,779
346,602
366,716
392,476
421,486
467,908
463,211
489,151
566,656
618,854
698,684
739,370
588,871
564,690
555,833
600,063
558,671
529,836
587,653
565,112
415,226
65
73
73
73
81
63
59
3
49
3
3
3
1,539
1,612
1,684
1,757
1,838
1,901
1,961
1,964
2,013
2,016
2,018
2,021
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
7,500
375,000
382,500
390,000
397,500
405,000
412,500
420,000
427,500
435,000
442,500
450,000
457,500
32.36
36.27
36.35
36.54
40.52
31.48
29.70
22.11
24.41
21.86
19.97
19.11
1838.91
1875.18
1911.52
1948.06
1988.58
2020.06
2049.76
2071.87
2096.28
2118.15
2138.12
2157.23
426,205
387,772
394,448
399,878
368,042
481,324
517,561
702,926
644,000
726,565
802,988
846,631
004 and Oct 2009

Difference
Annualized
1.7884%
6.8294%
10.2736%
17.8240%
19.5387%
12.8081%
17.2598%
21.0903%
22.6650%
40.0680%
48.2826%
48.7754%
35.6502%
47.1744%
59.8470%
66.6281%
76.8365%
91.9800%
106.5325%
42.5409%
44.1876%
43.1669%
51.1801%
66.6690%
76.3903%
74.3682%
82.9080%
85.0444%
66.0337%
67.6923%
75.5926%
84.7150%
101.1777%
95.3760%
102.5576%
130.7909%
148.1450%
176.1413%
188.1888%
125.8936%
104.9043%
91.8345%
99.3227%
77.7553%
62.2059%
73.1997%
60.8856%
15.2577%
1.7670%
6.5323%
9.7786%
16.3521%
18.0967%
12.4592%
16.3875%
19.7386%
21.2602%
35.5238%
40.5010%
40.3648%
31.8762%
40.7172%
50.1627%
53.8923%
60.5728%
71.3108%
81.0962%
29.7155%
35.2777%
37.6695%
44.4750%
57.3496%
64.4680%
60.7421%
66.6872%
66.7950%
54.0454%
57.7273%
63.5318%
70.2974%
83.4935%
76.4614%
81.1670%
104.2002%
117.1418%
138.8663%
146.4567%
91.5028%
79.2667%
72.3515%
81.8372%
65.5321%
53.5755%
66.7101%
56.9755%
12.9866%
0.0214%
0.2971%
0.4950%
1.4719%
1.4420%
0.3489%
0.8723%
1.3517%
1.4048%
4.5442%
7.7816%
8.4106%
3.7741%
6.4572%
9.6843%
12.7358%
16.2637%
20.6692%
25.4363%
12.8253%
8.9099%
5.4974%
6.7051%
9.3195%
11.9224%
13.6261%
16.2208%
18.2494%
11.9883%
9.9650%
12.0609%
14.4176%
17.6842%
18.9146%
21.3906%
26.5907%
31.0032%
37.2750%
41.7321%
34.3908%
25.6375%
19.4831%
17.4855%
12.2232%
8.6304%
6.4896%
3.9100%
2.2711%
0.2569%
1.7958%
1.9947%
4.4810%
3.4958%
0.6990%
1.5001%
2.0344%
1.8774%
5.4776%
8.5183%
8.4106%
3.4788%
5.5098%
7.6752%
9.4073%
11.2233%
13.3438%
15.3884%
7.5088%
4.9981%
2.9621%
3.4440%
4.5560%
5.5553%
6.0731%
6.9092%
7.4483%
4.7966%
3.8728%
4.5065%
5.1804%
6.1001%
6.3050%
6.8719%
8.1768%
9.1534%
10.5223%
11.3283%
9.2725%
6.9081%
5.2174%
4.5997%
3.1951%
2.2320%
1.6538%
0.9841%
0.5630%
15.4359% 13.6547%
2.8563%
1.3782%
2.5211%
1.1405%
1.8990%
0.5982%
-7.7944%
-9.1254%
17.9762% 16.6846%
24.0793% 23.2289%
66.5533% 64.4270%
48.9773% 48.0460%
66.1828% 64.1955%
81.7505% 78.4417%
89.7160% 85.0559%
Average:
1.7812%
1.4781%
1.3806%
1.3008%
1.3310%
1.2917%
0.8504%
2.1263%
0.9314%
1.9873%
3.3088%
4.6601%
10.378%
0.4333%
0.3528%
0.3231%
0.2987%
0.2998%
0.2856%
0.1849%
0.4519%
0.1954%
0.4080%
0.6643%
0.9151%
1.9945%
Average:
#DIV/0!
SIP
Date
10-Oct-04
10-Nov-04
10-Dec-04
10-Jan-05
10-Feb-05
10-Mar-05
10-Apr-05
10-May-05
10-Jun-05
10-Jul-05
10-Aug-05
10-Sep-05
10-Oct-05
10-Nov-05
10-Dec-05
10-Jan-06
10-Feb-06
10-Mar-06
10-Apr-06
10-May-06
10-Jun-06
10-Jul-06
10-Aug-06
10-Sep-06
10-Oct-06
10-Nov-06
10-Dec-06
10-Jan-07
10-Feb-07
10-Mar-07
10-Apr-07
10-May-07
10-Jun-07
10-Jul-07
10-Aug-07
10-Sep-07
10-Oct-07
10-Nov-07
10-Dec-07
10-Jan-08
10-Feb-08
10-Mar-08
10-Apr-08
10-May-08
10-Jun-08
10-Jul-08
10-Aug-08
10-Sep-08
10-Oct-08
10-Nov-08
10-Dec-08
10-Jan-09
10-Feb-09
10-Mar-09
10-Apr-09
10-May-09
10-Jun-09
HDFC top 200
43.51
45.11
48.256
49.45
51.77
55.34
51.88
52.42
55.08
57.76
62.7
66.32
69.57
69.18
77.58
81.04
85.53
92.12
98.54
104.44
78.38
86.61
90.56
95.73
101.29
106.96
106.42
107.83
110.97
101.74
105.72
111.18
115.96
122.98
123.5
128.82
147.301
153.153
164.396
168.422
139.742
135.151
132.421
139.77
127.015
119.266
134.292
131.072
98.228
98.71
90.241
88.378
90.734
80.226
102.33
110.933
147.638
FT Index
DSP Black Rock Top 100
14.1
23.13
14.6324
23.93
15.3372
25.38
15.4879
26.06
16.1264
27.11
16.9305
28.32
15.6873
26.39
15.555
26.48
16.4086
27.56
17.5567
29.21
18.7075
31.33
19.7589
33.3
20.3684
34.49
19.8356
33.96
21.9947
37.81
22.7803
39.62
23.9791
42.5
25.2038
46.16
27.5241
49.7
29.7034
53.39
22.0342
39.23
24.9582
43.97
25.8989
45.91
26.7777
47.57
28.3649
50.71
30.4434
54.45
30.5344
55.159
30.6354
55.518
32.3432
58.328
29.7575
54.251
30.6558
56.308
32.3917
59.711
33.0191
62.341
35.1272
66.395
34.5662
64.891
35.9809
67.764
43.3313
79.983
44.7174
84.974
47.2264
90.058
48.7213
92.098
38.4126
72.948
37.9457
71.896
37.3209
71.125
39.5114
75.623
35.1042
69.63
32.8769
65.237
36.5101
71.096
34.8034
68.486
26.0375
54.978
24.8596
53.776
23.0289
50.086
21.8356
49.945
23.1261
51.661
20.6393
47.567
26.6014
57.161
36.5733
58.567
31.5175
76.139
10-Jul-09
10-Aug-09
10-Sep-09
10-Oct-09
136.853
149.572
161.054
174.638
34.9309
37.939
39.7682
36.8542
69.72
75.841
81.307
86.812
Reliance Growth Fund - Equity

91.91
95.16
102.67
108.94
119.52
125.03
121.26
128.02
134.42
138.78
159.17
169.34
173.23
165.78
180.55
196.96
206.27
220
240.14
259.84
188.25
198.76
204.79
217.79
240.8
255.64
253.48
266.75
270.74
253.07
262.28
275.34
290.43
317.25
308.98
321.28
367.26
396.23
442.54
463.56
364.5
344.89
334.9
357.03
327.94
306.6112
335.7294
318.5668
229.8445
231.7706
206.7918
206.3527
205.2696
185.0774
238.2719
252.4979
339.2709
307.2102
343.0189
375.558
392.462
HDFC minimum investment

Index fund minimum investment
DSPBR minimum investment
Relianec minimum investment
pper bound for monthly investment
Nominal investment
Expected Return
1000
1000
2000
1000
15,000
7,500
15%
Average
outperforma
nce of VIP
over SIP
(CAGR)
First 3 years
Second 3 years
Third 3 years
Average
HDFC
Index
DSPBR
Reliance
Average
2.554%
2.004%
2.876%
1.602%
#DIV/0!
1.280%
1.314%
1.639%
1.602%
#DIV/0!
1.125%
1.266%
1.108%
1.602%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
43.51
0
7,500
45.11
3.677%
15,094
48.256
6.974%
22,782
49.45
2.474%
30,567
51.77
4.692%
38,449
55.34
6.896%
46,430
51.88
-6.252%
54,510
52.42
1.041%
62,692
55.08
5.074%
70,975
57.76
4.866%
79,362
62.7
8.553%
87,855
66.32
5.774%
96,453
69.57
4.900%
105,158
69.18
-0.561%
113,973
77.58
12.142%
122,898
81.04
4.460%
131,934
85.53
5.540%
141,083
92.12
7.705%
150,346
98.54
6.969%
159,726
104.44
5.987%
169,222
78.38
-24.952%
178,838
86.61
10.500%
188,573
90.56
4.561%
198,430
95.73
5.709%
208,411
101.29
5.808%
218,516
106.96
5.598%
228,747
106.42
-0.505%
239,107
107.83
1.325%
249,595
110.97
2.912%
260,215
101.74
-8.318%
270,968
105.72
3.912%
281,855
111.18
5.165%
292,878
115.96
4.299%
304,039
122.98
6.054%
315,340
123.5
0.423%
326,782
128.82
4.308%
338,366
147.301
14.346%
350,096
Actual
Portfolio
Value
0.00
7,775.80
16,146.45
23,346.16
32,001.25
41,100.66
43,526.76
55,077.13
65,872.33
74,427.69
86,149.21
92,925.43
101,178.02
104,567.52
127,810.22
134,555.04
143,065.43
155,165.53
167,048.97
178,110.76
134,418.82
165,107.99
188,322.12
209,756.23
222,996.96
236,535.83
236,336.61
242,271.58
256,860.70
238,569.34
263,488.80
292,871.59
306,506.12
326,121.96
328,505.14
343,699.20
394,151.04
Total
VIP
invested
Amount
amount
7,500
7,500
7,318
14,818
6,636
21,454
7,221
28,675
6,448
35,123
5,329
40,452
10,983
51,435
7,614
59,049
5,102
64,151
4,934
69,085
1,704
70,789
3,526
74,315
3,979
78,294
9,404
87,698
1,000
88,698
1,000
89,698
1,000
90,698
1,000
91,698
1,000
92,698
1,000
93,698
15,000
108,698
15,000
123,698
10,106
133,804
1,000
134,804
1,000
135,804
1,000
136,804
2,767
139,571
7,321
146,892
3,352
150,244
15,000
165,244
15,000
180,244
1,000
181,244
1,000
182,244
1,000
183,244
1,000
184,244
1,000
185,244
1,000
186,244
SIP Investing
Units
Total no. of
Cum SIP
bought
units
172
172
7,500
7,500
162
334
7,500
15,000
138
472
7,500
22,500
146
618
7,500
30,000
125
742
7,500
37,500
96
839
7,500
45,000
212
1,050
7,500
52,500
145
1,196
7,500
60,000
93
1,288
7,500
67,500
85
1,374
7,500
75,000
27
1,401
7,500
82,500
53
1,454
7,500
90,000
57
1,511
7,500
97,500
136
1,647
7,500
105,000
13
1,660
7,500
112,500
12
1,672
7,500
120,000
12
1,684
7,500
127,500
11
1,695
7,500
135,000
10
1,705
7,500
142,500
10
1,715
7,500
150,000
191
1,906
7,500
157,500
173
2,079
7,500
165,000
112
2,191
7,500
172,500
10
2,201
7,500
180,000
10
2,211
7,500
187,500
9
2,220
7,500
195,000
26
2,246
7,500
202,500
68
2,314
7,500
210,000
30
2,345
7,500
217,500
147
2,492
7,500
225,000
142
2,634
7,500
232,500
9
2,643
7,500
240,000
9
2,651
7,500
247,500
8
2,660
7,500
255,000
8
2,668
7,500
262,500
8
2,675
7,500
270,000
7
2,682
7,500
277,500
Units
Cumulative
bought
Units
172.37
172.37
166.26
338.63
155.42
494.05
151.67
645.72
144.87
790.59
135.53
926.12
144.56
1070.68
143.08
1213.76
136.17
1349.92
129.85
1479.77
119.62
1599.39
113.09
1712.48
107.81
1820.28
108.41
1928.69
96.67
2025.37
92.55
2117.91
87.69
2205.60
81.42
2287.02
76.11
2363.13
71.81
2434.94
95.69
2530.63
86.60
2617.22
82.82
2700.04
78.35
2778.39
74.04
2852.43
70.12
2922.55
70.48
2993.03
69.55
3062.58
67.59
3130.17
73.72
3203.88
70.94
3274.83
67.46
3342.28
64.68
3406.96
60.99
3467.95
60.73
3528.68
58.22
3586.90
50.92
3637.81
Portfolio
Value
7,500
15,276
23,841
31,931
40,929
51,251
55,547
63,625
74,354
85,472
100,282
113,571
126,637
133,427
157,128
171,636
188,645
210,680
232,863
254,305
198,351
226,678
244,516
265,975
288,923
312,596
318,518
330,238
347,355
325,963
346,215
371,595
395,071
426,488
435,792
462,064
535,854
and Oct 2007

Difference
Annualized
1.8612%
1.8374%
6.1921%
5.9597%
6.5986%
6.4361%
9.4703%
9.1438%
14.7772% 13.8918%
5.9780%
5.8037%
6.1680%
6.0419%
10.6364% 10.1537%
14.8754% 13.9620%
24.1057% 21.5534%
29.7873% 26.1904%
34.3104% 29.8840%
29.9591% 27.0733%
45.2234% 39.6693%
51.1238% 43.0298%
58.8408% 47.9570%
70.3042% 56.0594%
81.2865% 63.4125%
91.1575% 69.5368%
37.4623% 25.9369%
45.6030% 37.3805%
48.2976% 41.7483%
56.3427% 47.7639%
64.9414% 54.0922%
73.6322% 60.3057%
71.3132% 57.2928%
69.9157% 57.2563%
73.1934% 59.7033%
53.4515% 44.8725%
54.5066% 48.9095%
62.1414% 54.8313%
68.7332% 59.6248%
78.5171% 67.2503%
78.8417% 66.0158%
86.0785% 71.1349%
112.1685% 93.1004%
Average:
0.0238%
0.2323%
0.1625%
0.3265%
0.8854%
0.1742%
0.1261%
0.4827%
0.9134%
2.5523%
3.5969%
4.4265%
2.8858%
5.5540%
8.0940%
10.8838%
14.2448%
17.8740%
21.6207%
11.5254%
8.2225%
6.5493%
8.5788%
10.8492%
13.3265%
14.0204%
12.6595%
13.4901%
8.5789%
5.5970%
7.3101%
9.1084%
11.2669%
12.8259%
14.9436%
19.0681%
7.860%
0.2864%
1.4022%
0.6516%
0.9828%
2.1380%
0.3488%
0.2163%
0.7249%
1.2198%
3.0705%
3.9303%
4.4265%
2.6609%
4.7421%
6.4244%
8.0565%
9.8565%
11.5866%
13.1589%
6.7639%
4.6189%
3.5208%
4.3878%
5.2849%
6.1889%
6.2428%
5.4406%
5.5731%
3.4645%
2.2023%
2.7687%
3.3230%
3.9586%
4.3511%
4.8909%
5.9901%
2.5543%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
69.57
0
7,500
69.18
-0.561%
15,094
77.58
12.142%
22,782
81.04
4.460%
30,567
85.53
5.540%
38,449
92.12
7.705%
46,430
98.54
6.969%
54,510
104.44
5.987%
62,692
78.38
-24.952%
70,975
86.61
10.500%
79,362
90.56
4.561%
87,855
95.73
5.709%
96,453
101.29
5.808%
105,158
106.96
5.598%
113,973
106.42
-0.505%
122,898
107.83
1.325%
131,934
110.97
2.912%
141,083
101.74
-8.318%
150,346
105.72
3.912%
159,726
111.18
5.165%
169,222
115.96
4.299%
178,838
122.98
6.054%
188,573
123.5
0.423%
198,430
128.82
4.308%
208,411
147.301
14.346%
218,516
153.153
3.973%
228,747
164.396
7.341%
239,107
168.422
2.449%
249,595
139.742
-17.029%
260,215
135.151
-3.285%
270,968
132.421
-2.020%
281,855
139.77
5.550%
292,878
127.015
-9.126%
304,039
119.266
-6.101%
315,340
134.292
12.599%
326,782
131.072
-2.398%
338,366
98.228
-25.058%
350,096
Actual
Portfolio
Value
0.00
7,457.96
16,926.70
23,798.79
32,261.39
41,412.95
49,666.80
57,775.65
47,050.25
68,565.61
82,984.17
92,872.87
102,058.03
111,048.78
113,401.35
124,529.72
135,779.73
129,351.75
149,998.70
167,979.07
176,501.67
189,668.41
191,474.62
206,982.57
238,315.65
248,823.22
268,162.81
275,754.51
229,626.94
236,590.11
246,508.09
276,021.06
264,463.34
262,413.68
312,364.28
318,950.73
250,269.41
Total
VIP
invested
Amount
amount
7,500
7,500
7,636
15,136
5,856
20,992
6,769
27,761
6,189
33,950
5,018
38,968
4,845
43,813
4,918
48,731
15,000
63,731
10,799
74,530
4,873
79,403
3,583
82,986
3,104
86,090
2,928
89,018
9,500
98,518
7,408
105,926
5,307
111,233
15,000
126,233
9,731
135,964
1,247
137,211
2,340
139,551
1,000
140,551
6,960
147,511
1,433
148,944
1,000
149,944
1,000
150,944
1,000
151,944
1,000
152,944
15,000
167,944
15,000
182,944
15,000
197,944
15,000
212,944
15,000
227,944
15,000
242,944
14,422
257,366
15,000
272,366
15,000
287,366
SIP Investing
Units
Total no. of
Cum SIP
bought
units
108
108
7,500
7,500
110
218
7,500
15,000
75
294
7,500
22,500
84
377
7,500
30,000
72
450
7,500
37,500
54
504
7,500
45,000
49
553
7,500
52,500
47
600
7,500
60,000
191
792
7,500
67,500
125
917
7,500
75,000
54
970
7,500
82,500
37
1,008
7,500
90,000
31
1,038
7,500
97,500
27
1,066
7,500
105,000
89
1,155
7,500
112,500
69
1,224
7,500
120,000
48
1,272
7,500
127,500
147
1,419
7,500
135,000
92
1,511
7,500
142,500
11
1,522
7,500
150,000
20
1,542
7,500
157,500
8
1,551
7,500
165,000
56
1,607
7,500
172,500
11
1,618
7,500
180,000
7
1,625
7,500
187,500
7
1,631
7,500
195,000
6
1,637
7,500
202,500
6
1,643
7,500
210,000
107
1,751
7,500
217,500
111
1,862
7,500
225,000
113
1,975
7,500
232,500
107
2,082
7,500
240,000
118
2,200
7,500
247,500
126
2,326
7,500
255,000
107
2,434
7,500
262,500
114
2,548
7,500
270,000
153
2,701
7,500
277,500
Units
Cumulative
bought
Units
107.81
107.81
108.41
216.22
96.67
312.90
92.55
405.44
87.69
493.13
81.42
574.55
76.11
650.66
71.81
722.47
95.69
818.16
86.60
904.75
82.82
987.57
78.35
1065.92
74.04
1139.96
70.12
1210.08
70.48
1280.56
69.55
1350.11
67.59
1417.70
73.72
1491.41
70.94
1562.36
67.46
1629.81
64.68
1694.49
60.99
1755.48
60.73
1816.21
58.22
1874.43
50.92
1925.34
48.97
1974.31
45.62
2019.94
44.53
2064.47
53.67
2118.14
55.49
2173.63
56.64
2230.27
53.66
2283.93
59.05
2342.98
62.88
2405.86
55.85
2461.71
57.22
2518.93
76.35
2595.28
Portfolio
Value
7,500
14,958
24,275
32,857
42,178
52,927
64,116
75,455
64,127
78,361
89,434
102,040
115,467
129,430
136,277
145,582
157,322
151,736
165,172
181,203
196,493
215,889
224,301
241,464
283,605
302,372
332,069
347,702
295,993
293,768
295,334
319,225
297,593
286,937
330,588
330,161
254,929
and Oct 2008

Difference
Annualized
-0.2778%
-0.2780%
8.5304%
7.8870%
10.1105%
9.5240%
13.2559% 12.4737%
19.1515% 17.6164%
24.4192% 22.1257%
28.6525% 25.7581%
-2.6373%
-4.9966%
6.4868%
4.4810%
10.6472%
8.4055%
16.2315% 13.3781%
22.1536% 18.4274%
28.0379% 23.2670%
24.7501% 21.1350%
24.5565% 21.3187%
26.8389% 23.3897%
14.3534% 12.3974%
17.4794% 15.9104%
23.3327% 20.8018%
28.1551% 24.7576%
35.6578% 30.8416%
34.5219% 30.0298%
39.9288% 34.1465%
59.6034% 51.2560%
65.5072% 55.0626%
77.1461% 63.9848%
80.9515% 65.5722%
45.6598% 36.0886%
37.5230% 30.5637%
32.1122% 27.0255%
36.6655% 33.0102%
22.6018% 20.2396%
14.1883% 12.5244%
26.9734% 25.9382%
22.6110% 22.2819%
-7.6894%
-8.1336%
Average:
0.0003%
0.6434%
0.5866%
0.7822%
1.5351%
2.2936%
2.8944%
2.3594%
2.0058%
2.2417%
2.8534%
3.7262%
4.7709%
3.6151%
3.2378%
3.4493%
1.9560%
1.5690%
2.5309%
3.3974%
4.8162%
4.4921%
5.7823%
8.3474%
10.4446%
13.1612%
15.3794%
9.5713%
6.9593%
5.0867%
3.6553%
2.3621%
1.6639%
1.0352%
0.3291%
0.4442%
3.889%
0.0030%
3.9232%
2.3670%
2.3651%
3.7239%
4.6397%
5.0130%
3.5599%
2.6833%
2.6961%
3.1169%
3.7262%
4.3960%
3.0908%
2.5819%
2.5759%
1.3768%
1.0433%
1.5911%
2.0248%
2.7244%
2.4257%
2.9763%
4.0900%
4.8840%
5.8726%
6.5645%
3.9951%
2.8231%
2.0044%
1.3994%
0.8793%
0.6019%
0.3641%
0.1127%
0.1479%
1.2798%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
101.29
0
7,500
106.96
5.598%
15,094
106.42
-0.505%
22,782
107.83
1.325%
30,567
110.97
2.912%
38,449
101.74
-8.318%
46,430
105.72
3.912%
54,510
111.18
5.165%
62,692
115.96
4.299%
70,975
122.98
6.054%
79,362
123.5
0.423%
87,855
128.82
4.308%
96,453
147.301
14.346%
105,158
153.153
3.973%
113,973
164.396
7.341%
122,898
168.422
2.449%
131,934
139.742
-17.029%
141,083
135.151
-3.285%
150,346
132.421
-2.020%
159,726
139.77
5.550%
169,222
127.015
-9.126%
178,838
119.266
-6.101%
188,573
134.292
12.599%
198,430
131.072
-2.398%
208,411
98.228
-25.058%
218,516
98.71
0.491%
228,747
90.241
-8.580%
239,107
88.378
-2.064%
249,595
90.734
2.666%
260,215
80.226
-11.581%
270,968
102.33
27.552%
281,855
110.933
8.407%
292,878
147.638
33.088%
304,039
136.853
-7.305%
315,340
149.572
9.294%
326,782
161.054
7.677%
338,366
174.638
8.434%
350,096
Actual
Portfolio
Value
0.00
7,919.83
15,017.63
23,084.49
31,457.61
35,251.54
48,246.87
57,326.13
65,387.48
75,272.20
79,697.77
91,638.24
110,289.64
115,710.97
125,278.75
129,371.27
109,466.81
120,377.65
132,643.08
155,836.86
153,779.17
158,482.20
195,338.75
193,671.88
156,186.57
172,026.57
170,980.29
182,140.78
202,396.21
192,219.32
264,312.73
302,794.87
404,313.12
375,704.88
411,715.50
444,397.90
482,964.71
Total
VIP
invested
Amount
amount
7,500
7,500
7,174
14,674
7,765
22,439
7,483
29,922
6,992
36,914
11,179
48,093
6,264
54,357
5,366
59,723
5,588
65,311
4,090
69,401
8,156
77,557
4,814
82,371
1,000
83,371
1,000
84,371
1,000
85,371
2,562
87,933
15,000
102,933
15,000
117,933
15,000
132,933
13,385
146,318
15,000
161,318
15,000
176,318
3,091
179,409
14,738
194,147
15,000
209,147
15,000
224,147
15,000
239,147
15,000
254,147
15,000
269,147
15,000
284,147
15,000
299,147
1,000
300,147
1,000
301,147
1,000
302,147
1,000
303,147
1,000
304,147
1,000
305,147
SIP Investing
Units
Total no. of
Cum SIP
bought
units
74
74
7,500
7,500
67
141
7,500
15,000
73
214
7,500
22,500
69
283
7,500
30,000
63
346
7,500
37,500
110
456
7,500
45,000
59
516
7,500
52,500
48
564
7,500
60,000
48
612
7,500
67,500
33
645
7,500
75,000
66
711
7,500
82,500
37
749
7,500
90,000
7
755
7,500
97,500
7
762
7,500
105,000
6
768
7,500
112,500
15
783
7,500
120,000
107
891
7,500
127,500
111
1,002
7,500
135,000
113
1,115
7,500
142,500
96
1,211
7,500
150,000
118
1,329
7,500
157,500
126
1,455
7,500
165,000
23
1,478
7,500
172,500
112
1,590
7,500
180,000
153
1,743
7,500
187,500
152
1,895
7,500
195,000
166
2,061
7,500
202,500
170
2,231
7,500
210,000
165
2,396
7,500
217,500
187
2,583
7,500
225,000
147
2,729
7,500
232,500
9
2,738
7,500
240,000
7
2,745
7,500
247,500
7
2,753
7,500
255,000
7
2,759
7,500
262,500
6
2,765
7,500
270,000
6
2,771
7,500
277,500
Units
Cumulative
bought
Units
74.04
74.04
70.12
144.16
70.48
214.64
69.55
284.19
67.59
351.77
73.72
425.49
70.94
496.43
67.46
563.89
64.68
628.57
60.99
689.56
60.73
750.28
58.22
808.51
50.92
859.42
48.97
908.39
45.62
954.01
44.53
998.54
53.67
1052.21
55.49
1107.71
56.64
1164.35
53.66
1218.01
59.05
1277.05
62.88
1339.94
55.85
1395.79
57.22
1453.01
76.35
1529.36
75.98
1605.34
83.11
1688.45
84.86
1773.31
82.66
1855.97
93.49
1949.46
73.29
2022.75
67.61
2090.36
50.80
2141.16
54.80
2195.96
50.14
2246.11
46.57
2292.67
42.95
2335.62
Portfolio
Value
7,500
15,419
22,841
30,644
39,036
43,290
52,483
62,694
72,889
84,802
92,660
104,152
126,594
139,123
156,836
168,177
147,039
149,708
154,184
170,241
162,205
159,809
187,443
190,449
150,226
158,463
152,367
156,722
168,400
156,397
206,988
231,890
316,116
300,524
335,955
369,244
407,888
and Oct 2009

Difference
Annualized
2.8611%
2.7955%
1.5314%
1.5177%
2.1572%
2.1470%
4.1600%
4.0972%
-3.4568%
-3.8009%
0.2831%
-0.0323%
4.9715%
4.4893%
8.6731%
7.9837%
14.3531% 13.0687%
13.2764% 12.3153%
17.0949% 15.7240%
33.4872% 29.8396%
38.3307% 32.4980%
47.9176% 39.4098%
50.0384% 40.1474%
20.9202% 15.3244%
14.7920% 10.8947%
11.0658%
8.1992%
15.6535% 13.4937%
4.6251%
2.9873%
-1.6083%
-3.1460%
10.6019%
8.6626%
7.3464%
5.8047%
-18.1501% -19.8795%
-16.5608% -18.7369%
-22.2318% -24.7568%
-22.4304% -25.3705%
-19.2277% -22.5748%
-27.0732% -30.4901%
-6.6303% -10.9729%
1.2154%
-3.3792%
34.5898% 27.7238%
24.6760% 17.8526%
36.1437% 27.9827%
46.4417% 36.7572%
58.6005% 46.9867%
Average:
0.0656%
0.0137%
0.0102%
0.0627%
0.3442%
0.3154%
0.4822%
0.6894%
1.2844%
0.9611%
1.3709%
3.6476%
5.8326%
8.5079%
9.8910%
5.5958%
3.8973%
2.8666%
2.1597%
1.6379%
1.5377%
1.9393%
1.5417%
1.7294%
2.1761%
2.5250%
2.9401%
3.3471%
3.4169%
4.3426%
4.5946%
6.8660%
6.8234%
8.1610%
9.6845%
11.6138%
3.412%
0.7903%
0.0825%
0.0408%
0.1883%
0.8280%
0.6318%
0.8281%
1.0359%
1.7162%
1.1544%
1.4964%
3.6476%
5.3721%
7.2495%
7.8375%
4.1682%
2.7355%
1.9021%
1.3587%
0.9795%
0.8758%
1.0532%
0.8014%
0.8610%
1.0387%
1.1576%
1.2962%
1.4210%
1.4000%
1.7149%
1.7541%
2.5215%
2.4293%
2.8075%
3.2201%
3.7304%
1.1248%
Average:
#DIV/0!
SIP
Back-testing Value investing protocol w

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
14.1
0
7,500
14.6324
3.776%
15,094
15.3372
4.817%
22,782
15.4879
0.983%
30,567
16.1264
4.123%
38,449
16.9305
4.986%
46,430
15.6873
-7.343%
54,510
15.555
-0.843%
62,692
16.4086
5.488%
70,975
17.5567
6.997%
79,362
18.7075
6.555%
87,855
19.7589
5.620%
96,453
20.3684
3.085%
105,158
19.8356
-2.616%
113,973
21.9947
10.885%
122,898
22.7803
3.572%
131,934
23.9791
5.262%
141,083
25.2038
5.107%
150,346
27.5241
9.206%
159,726
29.7034
7.918%
169,222
22.0342
-25.819%
178,838
24.9582
13.270%
188,573
25.8989
3.769%
198,430
26.7777
3.393%
208,411
28.3649
5.927%
218,516
30.4434
7.328%
228,747
30.5344
0.299%
239,107
30.6354
0.331%
249,595
32.3432
5.575%
260,215
29.7575
-7.995%
270,968
30.6558
3.019%
281,855
32.3917
5.663%
292,878
33.0191
1.937%
304,039
35.1272
6.384%
315,340
34.5662
-1.597%
326,782
35.9809
4.093%
338,366
43.3313
20.429%
350,096
Actual
Portfolio
Value
0.00
7,783.19
15,821.23
23,007.10
31,828.29
40,367.51
43,021.14
54,051.41
66,132.74
75,941.87
84,564.92
92,792.54
99,428.83
102,408.07
126,379.01
131,928.69
139,923.99
148,288.61
164,187.75
178,266.96
132,981.55
167,619.11
189,502.21
205,163.34
220,763.48
238,013.69
239,728.14
241,524.40
263,509.34
243,362.96
266,162.25
297,083.20
303,856.82
324,320.36
320,124.83
340,156.11
410,849.58
Total
VIP
invested
Amount
amount
7,500
7,500
7,311
14,811
6,962
21,773
7,561
29,334
6,622
35,956
6,063
42,019
11,490
53,509
8,641
62,150
4,843
66,993
3,421
70,414
3,290
73,704
3,661
77,365
5,730
83,095
11,565
94,660
1,000
95,660
1,000
96,660
1,159
97,819
2,058
99,877
1,000
100,877
1,000
101,877
15,000
116,877
15,000
131,877
8,928
140,805
3,247
144,052
1,000
145,052
1,000
146,052
1,000
147,052
8,071
155,123
1,000
156,123
15,000
171,123
15,000
186,123
1,000
187,123
1,000
188,123
1,000
189,123
6,657
195,780
1,000
196,780
1,000
197,780
nvesting protocol with Nifty Index fund between Oct 2004 and Oct 2007
SIP Investing
Units
Total no. of
Cum SIP
bought
units
532
532
7,500
7,500
500
1,032
7,500
15,000
454
1,486
7,500
22,500
488
1,974
7,500
30,000
411
2,384
7,500
37,500
358
2,743
7,500
45,000
732
3,475
7,500
52,500
556
4,030
7,500
60,000
295
4,326
7,500
67,500
195
4,520
7,500
75,000
176
4,696
7,500
82,500
185
4,882
7,500
90,000
281
5,163
7,500
97,500
583
5,746
7,500
105,000
45
5,791
7,500
112,500
44
5,835
7,500
120,000
48
5,884
7,500
127,500
82
5,965
7,500
135,000
36
6,002
7,500
142,500
34
6,035
7,500
150,000
681
6,716
7,500
157,500
601
7,317
7,500
165,000
345
7,662
7,500
172,500
121
7,783
7,500
180,000
35
7,818
7,500
187,500
33
7,851
7,500
195,000
33
7,884
7,500
202,500
263
8,147
7,500
210,000
31
8,178
7,500
217,500
504
8,682
7,500
225,000
489
9,172
7,500
232,500
31
9,203
7,500
240,000
30
9,233
7,500
247,500
28
9,261
7,500
255,000
193
9,454
7,500
262,500
28
9,482
7,500
270,000
23
9,505
7,500
277,500
Units
Cumulative
bought
Units
531.91
531.91
512.56
1044.47
489.01
1533.48
484.25
2017.73
465.08
2482.80
442.99
2925.79
478.09
3403.88
482.16
3886.04
457.08
4343.12
427.19
4770.31
400.91
5171.22
379.58
5550.79
368.22
5919.01
378.11
6297.12
340.99
6638.11
329.23
6967.34
312.77
7280.11
297.57
7577.69
272.49
7850.18
252.50
8102.67
340.38
8443.05
300.50
8743.56
289.59
9033.14
280.08
9313.23
264.41
9577.64
246.36
9824.00
245.62
10069.62
244.81
10314.44
231.89
10546.33
252.04
10798.36
244.65
11043.01
231.54
11274.56
227.14
11501.70
213.51
11715.21
216.97
11932.18
208.44
12140.62
173.09
12313.71
Portfolio
Value
7,500
15,283
23,519
31,250
40,039
49,535
53,398
60,447
71,265
83,751
96,741
109,678
120,561
124,907
146,003
158,718
174,571
190,987
216,069
240,677
186,036
218,223
233,948
249,387
271,669
299,076
307,470
315,987
341,102
321,332
338,532
365,202
379,776
411,522
412,450
436,831
533,569
d Oct 2007
Difference
Annualized
1.9120%
1.8875%
4.6399%
4.5301%
4.2071%
4.1679%
6.9371%
6.7698%
10.4988% 10.0780%
1.8728%
1.7100%
0.8727%
0.7457%
5.9450%
5.5771%
12.7089% 11.6679%
19.1997% 17.2613%
24.6734% 21.8640%
26.5525% 23.6521%
20.4026% 18.9592%
33.1581% 29.7807%
37.5219% 32.2651%
44.2286% 36.9181%
50.5318% 41.4715%
63.7516% 51.6274%
75.9641% 60.4513%
26.6131% 18.1181%
38.4768% 32.2566%
40.9255% 35.6223%
44.6772% 38.5482%
52.8855% 44.8900%
63.6497% 53.3723%
63.7027% 51.8370%
60.9016% 50.4700%
69.4237% 56.8285%
50.9808% 42.8143%
51.0626% 45.6053%
59.2980% 52.1675%
62.0519% 53.4447%
72.0152% 61.3813%
66.9128% 57.1239%
73.3693% 61.7891%
108.2362% 92.2771%
Average:
0.0246%
0.1098%
0.0392%
0.1673%
0.4209%
0.1628%
0.1270%
0.3679%
1.0411%
1.9384%
2.8094%
2.9004%
1.4434%
3.3774%
5.2568%
7.3105%
9.0602%
12.1242%
15.5128%
8.4950%
6.2202%
5.3032%
6.1289%
7.9955%
10.2775%
11.8658%
10.4317%
12.5952%
8.1665%
5.4573%
7.1305%
8.6071%
10.6339%
9.7889%
11.5802%
15.9591%
6.134%
0.2952%
0.6606%
0.1569%
0.5026%
1.0130%
0.3259%
0.2179%
0.5523%
1.3905%
2.3305%
3.0687%
2.9004%
1.3316%
2.8880%
4.1838%
5.4342%
6.3134%
7.9277%
9.5358%
5.0137%
3.5084%
2.8587%
3.1522%
3.9209%
4.8078%
5.3115%
4.5088%
5.2156%
3.3017%
2.1482%
2.7021%
3.1447%
3.7431%
3.3510%
3.8283%
5.0594%
2.0042%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
20.3684
0
7,500
19.8356
-2.616%
15,094
21.9947
10.885%
22,782
22.7803
3.572%
30,567
23.9791
5.262%
38,449
25.2038
5.107%
46,430
27.5241
9.206%
54,510
29.7034
7.918%
62,692
22.0342
-25.819%
70,975
24.9582
13.270%
79,362
25.8989
3.769%
87,855
26.7777
3.393%
96,453
28.3649
5.927%
105,158
30.4434
7.328%
113,973
30.5344
0.299%
122,898
30.6354
0.331%
131,934
32.3432
5.575%
141,083
29.7575
-7.995%
150,346
30.6558
3.019%
159,726
32.3917
5.663%
169,222
33.0191
1.937%
178,838
35.1272
6.384%
188,573
34.5662
-1.597%
198,430
35.9809
4.093%
208,411
43.3313
20.429%
218,516
44.7174
3.199%
228,747
47.2264
5.611%
239,107
48.7213
3.165%
249,595
38.4126
-21.159%
260,215
37.9457
-1.215%
270,968
37.3209
-1.647%
281,855
39.5114
5.869%
292,878
35.1042
-11.154%
304,039
32.8769
-6.345%
315,340
36.5101
11.051%
326,782
34.8034
-4.675%
338,366
26.0375
-25.187%
350,096
Actual
Portfolio
Value
0.00
7,303.81
16,736.77
23,596.52
32,176.12
40,413.91
50,705.40
58,827.50
46,505.76
69,667.74
82,354.01
90,836.10
102,170.18
112,864.95
114,314.64
123,305.15
139,290.01
129,804.95
149,176.22
168,771.86
173,060.19
190,257.16
188,202.68
206,552.95
250,987.62
260,048.31
275,695.19
285,453.67
225,844.35
237,916.92
248,752.48
279,233.08
260,211.50
257,749.82
302,891.18
303,031.05
237,928.86
Total
VIP
invested
Amount
amount
7,500
7,500
7,790
15,290
6,046
21,336
6,971
28,307
6,274
34,581
6,017
40,598
3,806
44,404
3,865
48,269
15,000
63,269
9,695
72,964
5,501
78,465
5,617
84,082
2,989
87,071
1,109
88,180
8,584
96,764
8,630
105,394
1,794
107,188
15,000
122,188
10,551
132,739
1,000
133,739
5,779
139,518
1,000
140,518
10,229
150,747
1,859
152,606
1,000
153,606
1,000
154,606
1,000
155,606
1,000
156,606
15,000
171,606
15,000
186,606
15,000
201,606
13,647
215,253
15,000
230,253
15,000
245,253
15,000
260,253
15,000
275,253
15,000
290,253
SIP Investing
Units
Total no. of
Cum SIP
bought
units
368
368
7,500
7,500
393
761
7,500
15,000
275
1,036
7,500
22,500
306
1,342
7,500
30,000
262
1,603
7,500
37,500
239
1,842
7,500
45,000
138
1,980
7,500
52,500
130
2,110
7,500
60,000
681
2,791
7,500
67,500
388
3,180
7,500
75,000
212
3,392
7,500
82,500
210
3,602
7,500
90,000
105
3,707
7,500
97,500
36
3,744
7,500
105,000
281
4,025
7,500
112,500
282
4,306
7,500
120,000
55
4,362
7,500
127,500
504
4,866
7,500
135,000
344
5,210
7,500
142,500
31
5,241
7,500
150,000
175
5,416
7,500
157,500
28
5,444
7,500
165,000
296
5,740
7,500
172,500
52
5,792
7,500
180,000
23
5,815
7,500
187,500
22
5,838
7,500
195,000
21
5,859
7,500
202,500
21
5,879
7,500
210,000
390
6,270
7,500
217,500
395
6,665
7,500
225,000
402
7,067
7,500
232,500
345
7,412
7,500
240,000
427
7,840
7,500
247,500
456
8,296
7,500
255,000
411
8,707
7,500
262,500
431
9,138
7,500
270,000
576
9,714
7,500
277,500
Units
Cumulative
bought
Units
368.22
368.22
378.11
746.33
340.99
1087.32
329.23
1416.55
312.77
1729.32
297.57
2026.90
272.49
2299.39
252.50
2551.88
340.38
2892.26
300.50
3192.76
289.59
3482.35
280.08
3762.44
264.41
4026.85
246.36
4273.21
245.62
4518.83
244.81
4763.65
231.89
4995.53
252.04
5247.57
244.65
5492.22
231.54
5723.76
227.14
5950.91
213.51
6164.41
216.97
6381.39
208.44
6589.83
173.09
6762.92
167.72
6930.64
158.81
7089.45
153.94
7243.38
195.25
7438.63
197.65
7636.28
200.96
7837.24
189.82
8027.06
213.65
8240.71
228.12
8468.84
205.42
8674.26
215.50
8889.75
288.05
9177.80
Portfolio
Value
7,500
14,804
23,915
32,269
41,468
51,086
63,289
75,800
63,729
79,686
90,189
100,749
114,221
130,091
137,980
145,936
161,572
156,155
168,368
185,402
196,494
216,539
220,580
237,108
293,046
309,920
334,809
352,907
285,737
289,764
292,493
317,160
289,284
278,429
316,698
309,394
238,967
d Oct 2008
Difference
Annualized
-1.2831%
-1.3076%
6.7809%
6.2901%
7.9857%
7.5649%
11.1886% 10.5803%
14.3675% 13.5234%
22.7624% 20.5496%
29.8815% 26.3326%
-2.7869%
-5.5871%
8.7697%
6.2476%
11.9671%
9.3201%
14.7131% 11.9438%
20.7741% 17.1499%
29.2515% 23.8961%
27.0086% 22.6487%
25.1828% 21.6135%
31.6229% 26.7228%
18.5100% 15.6701%
20.3318% 18.1533%
26.9427% 23.6016%
28.1836% 24.7578%
36.1087% 31.2355%
31.6323% 27.8727%
36.5686% 31.7267%
64.0480% 56.2912%
68.8475% 58.9334%
77.8178% 65.3378%
82.9136% 68.0510%
40.3473% 31.3734%
35.5353% 28.7841%
30.8257% 25.8034%
36.0632% 32.1502%
19.5257% 16.8823%
11.2116%
9.1879%
22.1470% 20.6469%
15.5414% 14.5903%
-12.8592% -13.8858%
Average:
0.0245%
0.4908%
0.4209%
0.6082%
0.8441%
2.2128%
3.5489%
2.8002%
2.5222%
2.6470%
2.7694%
3.6242%
5.3553%
4.3599%
3.5693%
4.9002%
2.8399%
2.1785%
3.3410%
3.4258%
4.8731%
3.7596%
4.8419%
7.7568%
9.9141%
12.4800%
14.8626%
8.9738%
6.7512%
5.0223%
3.9130%
2.6434%
2.0237%
1.5001%
0.9511%
1.0266%
3.994%
0.2940%
2.9814%
1.6941%
1.8358%
2.0378%
4.4745%
6.1606%
4.2296%
3.3770%
3.1848%
3.0249%
3.6242%
4.9334%
3.7256%
2.8454%
3.6531%
1.9964%
1.4471%
2.0973%
2.0416%
2.7562%
2.0335%
2.4976%
3.8060%
4.6419%
5.5779%
6.3521%
3.7517%
2.7402%
1.9794%
1.4969%
0.9832%
0.7312%
0.5269%
0.3251%
0.3410%
1.3139%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
28.3649
0
7,500
30.4434
7.328%
15,094
30.5344
0.299%
22,782
30.6354
0.331%
30,567
32.3432
5.575%
38,449
29.7575
-7.995%
46,430
30.6558
3.019%
54,510
32.3917
5.663%
62,692
33.0191
1.937%
70,975
35.1272
6.384%
79,362
34.5662
-1.597%
87,855
35.9809
4.093%
96,453
43.3313
20.429%
105,158
44.7174
3.199%
113,973
47.2264
5.611%
122,898
48.7213
3.165%
131,934
38.4126
-21.159%
141,083
37.9457
-1.215%
150,346
37.3209
-1.647%
159,726
39.5114
5.869%
169,222
35.1042
-11.154%
178,838
32.8769
-6.345%
188,573
36.5101
11.051%
198,430
34.8034
-4.675%
208,411
26.0375
-25.187%
218,516
24.8596
-4.524%
228,747
23.0289
-7.364%
239,107
21.8356
-5.182%
249,595
23.1261
5.910%
260,215
20.6393
-10.753%
270,968
26.6014
28.887%
281,855
36.5733
37.486%
292,878
31.5175
-13.824%
304,039
34.9309
10.830%
315,340
37.939
8.612%
326,782
39.7682
4.821%
338,366
36.8542
-7.327%
350,096
Actual
Portfolio
Value
0.00
8,049.58
15,138.70
22,858.06
32,271.05
35,375.21
47,830.78
57,596.43
63,905.71
75,506.08
78,094.62
91,449.23
116,156.09
120,903.73
128,743.49
133,850.38
106,318.05
119,843.45
132,623.16
156,287.71
150,346.30
154,855.36
188,625.94
189,154.14
152,734.03
160,145.98
162,247.95
168,063.41
193,882.59
186,420.99
259,605.72
377,545.44
326,216.28
362,654.37
394,970.73
415,062.16
385,575.36
Total
VIP
invested
Amount
amount
7,500
7,500
7,044
14,544
7,644
22,188
7,709
29,897
6,178
36,075
11,054
47,129
6,679
53,808
5,095
58,903
7,069
65,972
3,856
69,828
9,759
79,587
5,003
84,590
1,000
85,590
1,000
86,590
1,000
87,590
1,000
88,590
15,000
103,590
15,000
118,590
15,000
133,590
12,934
146,524
15,000
161,524
15,000
176,524
9,804
186,328
15,000
201,328
15,000
216,328
15,000
231,328
15,000
246,328
15,000
261,328
15,000
276,328
15,000
291,328
15,000
306,328
1,000
307,328
1,000
308,328
1,000
309,328
1,000
310,328
1,000
311,328
1,000
312,328
SIP Investing
Units
Total no. of
Cum SIP
bought
units
264
264
7,500
7,500
231
495
7,500
15,000
250
746
7,500
22,500
252
997
7,500
30,000
191
1,188
7,500
37,500
371
1,560
7,500
45,000
218
1,778
7,500
52,500
157
1,935
7,500
60,000
214
2,149
7,500
67,500
110
2,259
7,500
75,000
282
2,541
7,500
82,500
139
2,680
7,500
90,000
23
2,703
7,500
97,500
22
2,726
7,500
105,000
21
2,747
7,500
112,500
21
2,767
7,500
120,000
390
3,158
7,500
127,500
395
3,553
7,500
135,000
402
3,955
7,500
142,500
327
4,282
7,500
150,000
427
4,710
7,500
157,500
456
5,166
7,500
165,000
269
5,435
7,500
172,500
431
5,866
7,500
180,000
576
6,442
7,500
187,500
603
7,045
7,500
195,000
651
7,696
7,500
202,500
687
8,383
7,500
210,000
649
9,032
7,500
217,500
727
9,759
7,500
225,000
564
10,323
7,500
232,500
27
10,350
7,500
240,000
32
10,382
7,500
247,500
29
10,410
7,500
255,000
26
10,437
7,500
262,500
25
10,462
7,500
270,000
27
10,489
7,500
277,500
Units
Cumulative
bought
Units
264.41
264.41
246.36
510.77
245.62
756.39
244.81
1001.21
231.89
1233.10
252.04
1485.13
244.65
1729.79
231.54
1961.33
227.14
2188.47
213.51
2401.98
216.97
2618.95
208.44
2827.40
173.09
3000.48
167.72
3168.20
158.81
3327.01
153.94
3480.95
195.25
3676.20
197.65
3873.85
200.96
4074.81
189.82
4264.63
213.65
4478.27
228.12
4706.40
205.42
4911.82
215.50
5127.32
288.05
5415.36
301.69
5717.06
325.68
6042.74
343.48
6386.21
324.31
6710.52
363.38
7073.90
281.94
7355.84
205.07
7560.91
237.96
7798.88
214.71
8013.58
197.69
8211.27
188.59
8399.86
203.50
8603.37
Portfolio
Value
7,500
15,550
23,096
30,672
39,882
44,194
53,028
63,531
72,261
84,375
90,527
101,732
130,015
141,674
157,123
169,596
141,212
146,996
152,075
168,501
157,206
154,732
179,331
178,448
141,003
142,124
139,158
139,447
155,188
146,000
195,676
276,528
245,801
279,922
311,527
334,047
317,070
d Oct 2009
Difference
Annualized
3.7787%
3.6636%
2.6803%
2.6490%
2.2412%
2.2414%
6.5809%
6.3527%
-1.4848%
-1.7914%
1.3042%
1.0056%
6.4316%
5.8845%
7.5831%
7.0537%
13.6537% 12.4996%
10.3869%
9.7300%
14.0232% 13.0358%
36.8806% 33.3485%
40.7827% 34.9274%
48.1259% 39.6647%
52.2185% 41.3302%
17.1137% 10.7547%
13.7056%
8.8858%
10.5047%
6.7196%
15.4908% 12.3342%
2.3664%
-0.1865%
-3.7778%
-6.2232%
6.4950%
3.9600%
1.4038%
-0.8622%
-22.4631% -24.7987%
-24.2867% -27.1160%
-28.0439% -31.2802%
-29.9488% -33.5968%
-24.4077% -28.6491%
-30.8611% -35.1109%
-10.3557% -15.8384%
23.1731% 15.2198%
6.1260%
-0.6864%
17.5627%
9.7732%
27.5975% 18.6771%
33.6411% 23.7213%
23.7722% 14.2595%
Average:
0.1151%
0.0313%
-0.0002%
0.2281%
0.3066%
0.2986%
0.5472%
0.5294%
1.1540%
0.6569%
0.9874%
3.5321%
5.8553%
8.4613%
10.8883%
6.3590%
4.8198%
3.7850%
3.1566%
2.5529%
2.4454%
2.5349%
2.2659%
2.3356%
2.8293%
3.2363%
3.6480%
4.2414%
4.2498%
5.4827%
7.9533%
6.8125%
7.7895%
8.9204%
9.9198%
9.5127%
3.846%
1.3904%
0.1879%
-0.0007%
0.6859%
0.7374%
0.5981%
0.9398%
0.7952%
1.5416%
0.7888%
1.0776%
3.5321%
5.3930%
7.2100%
8.6197%
4.7323%
3.3786%
2.5077%
1.9822%
1.5240%
1.3901%
1.3748%
1.1759%
1.1610%
1.3482%
1.4809%
1.6052%
1.7962%
1.7371%
2.1580%
3.0067%
2.5022%
2.7652%
3.0617%
3.2959%
3.0753%
1.2658%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
23.13
0
7,500
23.93
3.459%
15,094
25.38
6.059%
22,782
26.06
2.679%
30,567
27.11
4.029%
38,449
28.32
4.463%
46,430
26.39
-6.815%
54,510
26.48
0.341%
62,692
27.56
4.079%
70,975
29.21
5.987%
79,362
31.33
7.258%
87,855
33.3
6.288%
96,453
34.49
3.574%
105,158
33.96
-1.537%
113,973
37.81
11.337%
122,898
39.62
4.787%
131,934
42.5
7.269%
141,083
46.16
8.612%
150,346
49.7
7.669%
159,726
53.39
7.425%
169,222
39.23
-26.522%
178,838
43.97
12.083%
188,573
45.91
4.412%
198,430
47.57
3.616%
208,411
50.71
6.601%
218,516
54.45
7.375%
228,747
55.159
1.302%
239,107
55.518
0.651%
249,595
58.328
5.061%
260,215
54.251
-6.990%
270,968
56.308
3.792%
281,855
59.711
6.044%
292,878
62.341
4.405%
304,039
66.395
6.503%
315,340
64.891
-2.265%
326,782
67.764
4.427%
338,366
79.983
18.032%
350,096
Actual
Portfolio
Value
0.00
7,759.40
16,007.96
23,392.36
31,797.92
40,163.97
43,264.85
54,695.75
65,247.62
75,223.83
85,121.74
93,377.90
99,898.68
103,541.74
126,892.57
134,014.91
144,829.21
158,387.68
171,611.09
185,426.68
136,982.93
170,346.41
193,524.07
205,603.81
222,166.52
239,625.66
243,758.88
246,351.88
262,227.93
244,828.87
269,680.63
298,888.65
313,097.39
334,522.96
327,922.59
343,485.39
406,601.96
Total
VIP
invested
Amount
amount
7,500
7,500
7,334
14,834
6,774
21,608
7,174
28,782
6,650
35,432
6,265
41,697
11,245
52,942
7,995
60,937
5,727
66,664
4,138
70,802
2,732
73,534
3,074
76,608
5,259
81,867
10,430
92,297
1,000
93,297
1,000
94,297
1,000
95,297
1,000
96,297
1,000
97,297
1,000
98,297
15,000
113,297
15,000
128,297
4,905
133,202
2,806
136,008
1,000
137,008
1,000
138,008
1,000
139,008
3,243
142,251
1,000
143,251
15,000
158,251
12,174
170,425
1,000
171,425
1,000
172,425
1,000
173,425
1,000
174,425
1,000
175,425
1,000
176,425
SIP Investing
Units
Total no. of
Cum SIP
bought
units
324
324
7,500
7,500
306
630
7,500
15,000
267
897
7,500
22,500
275
1,173
7,500
30,000
245
1,418
7,500
37,500
221
1,639
7,500
45,000
426
2,065
7,500
52,500
302
2,367
7,500
60,000
208
2,575
7,500
67,500
142
2,717
7,500
75,000
87
2,804
7,500
82,500
92
2,896
7,500
90,000
152
3,049
7,500
97,500
307
3,356
7,500
105,000
26
3,382
7,500
112,500
25
3,407
7,500
120,000
24
3,431
7,500
127,500
22
3,453
7,500
135,000
20
3,473
7,500
142,500
19
3,492
7,500
150,000
382
3,874
7,500
157,500
341
4,215
7,500
165,000
107
4,322
7,500
172,500
59
4,381
7,500
180,000
20
4,401
7,500
187,500
18
4,419
7,500
195,000
18
4,437
7,500
202,500
58
4,495
7,500
210,000
17
4,513
7,500
217,500
276
4,789
7,500
225,000
216
5,005
7,500
232,500
17
5,022
7,500
240,000
16
5,038
7,500
247,500
15
5,053
7,500
255,000
15
5,069
7,500
262,500
15
5,083
7,500
270,000
13
5,096
7,500
277,500
Units
Cumulative
bought
Units
324.25
324.25
313.41
637.66
295.51
933.17
287.80
1220.97
276.65
1497.62
264.83
1762.45
284.20
2046.65
283.23
2329.88
272.13
2602.02
256.76
2858.78
239.39
3098.16
225.23
3323.39
217.45
3540.84
220.85
3761.69
198.36
3960.05
189.30
4149.35
176.47
4325.82
162.48
4488.30
150.91
4639.20
140.48
4779.68
191.18
4970.86
170.57
5141.43
163.36
5304.79
157.66
5462.46
147.90
5610.36
137.74
5748.10
135.97
5884.07
135.09
6019.16
128.58
6147.74
138.25
6285.99
133.20
6419.19
125.60
6544.79
120.31
6665.10
112.96
6778.06
115.58
6893.64
110.68
7004.31
93.77
7098.08
Portfolio
Value
7,500
15,259
23,684
31,818
40,600
49,913
54,011
61,695
71,712
83,505
97,065
110,669
122,124
127,747
149,730
164,397
183,847
207,180
230,568
255,187
195,007
226,069
243,543
259,849
284,501
312,984
324,559
334,172
358,586
341,021
361,451
390,796
415,509
450,029
447,335
474,640
567,726
nd Oct 2007
Difference
Annualized
1.7487%
1.7287%
5.4330%
5.2618%
6.1996%
6.0616%
8.5119%
8.2680%
11.3485% 10.9169%
2.9614%
2.8783%
2.8780%
2.8255%
6.4662%
6.2393%
12.0898% 11.3398%
19.4736% 17.6551%
25.9032% 22.9654%
28.4494% 25.2551%
23.4837% 21.6639%
37.0811% 33.0930%
43.1805% 36.9977%
53.0260% 44.1940%
65.5168% 53.4666%
77.4064% 61.8024%
89.6565% 70.1248%
34.1456% 23.8139%
44.4667% 37.0114%
48.9685% 41.1844%
53.2335% 44.3606%
62.8858% 51.7340%
74.3563% 60.5046%
76.0754% 60.2762%
75.4609% 59.1294%
83.7529% 64.8669%
64.1878% 51.5650%
65.3834% 55.4630%
74.9387% 62.8317%
82.1646% 67.8823%
93.4686% 76.4820%
88.5754% 70.4133%
96.3719% 75.7927%
131.0341% 104.5859%
Average:
0.0200%
0.1712%
0.1380%
0.2439%
0.4315%
0.0832%
0.0525%
0.2269%
0.7500%
1.8185%
2.9378%
3.1943%
1.8198%
3.9882%
6.1828%
8.8320%
12.0502%
15.6039%
19.5318%
10.3317%
7.4553%
7.7841%
8.8729%
11.1518%
13.8517%
15.7992%
16.3315%
18.8860%
12.6228%
9.9204%
12.1070%
14.2823%
16.9866%
18.1621%
20.5792%
26.4482%
8.879%
0.2406%
1.0314%
0.5531%
0.7335%
1.0388%
0.1665%
0.0900%
0.3405%
1.0012%
2.1861%
3.2091%
3.1943%
1.6787%
3.4088%
4.9164%
6.5534%
8.3626%
10.1493%
11.9275%
6.0767%
4.1944%
4.1735%
4.5352%
5.4285%
6.4248%
7.0046%
6.9544%
7.6958%
5.0419%
3.8559%
4.5232%
5.1337%
5.8710%
6.0671%
6.6264%
8.1361%
2.8762%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
34.49
0
7,500
33.96
-1.537%
15,094
37.81
11.337%
22,782
39.62
4.787%
30,567
42.5
7.269%
38,449
46.16
8.612%
46,430
49.7
7.669%
54,510
53.39
7.425%
62,692
39.23
-26.522%
70,975
43.97
12.083%
79,362
45.91
4.412%
87,855
47.57
3.616%
96,453
50.71
6.601%
105,158
54.45
7.375%
113,973
55.159
1.302%
122,898
55.518
0.651%
131,934
58.328
5.061%
141,083
54.251
-6.990%
150,346
56.308
3.792%
159,726
59.711
6.044%
169,222
62.341
4.405%
178,838
66.395
6.503%
188,573
64.891
-2.265%
198,430
67.764
4.427%
208,411
79.983
18.032%
218,516
84.974
6.240%
228,747
90.058
5.983%
239,107
92.098
2.265%
249,595
72.948
-20.793%
260,215
71.896
-1.442%
270,968
71.125
-1.072%
281,855
75.623
6.324%
292,878
69.63
-7.925%
304,039
65.237
-6.309%
315,340
71.096
8.981%
326,782
68.486
-3.671%
338,366
54.978
-19.724%
350,096
Actual
Portfolio
Value
0.00
7,384.75
16,804.91
23,873.55
32,789.52
41,760.70
49,990.38
58,557.53
46,064.60
68,442.78
82,864.35
91,030.96
102,819.62
112,914.36
115,457.42
123,698.30
138,612.05
131,221.65
151,765.84
169,378.95
177,883.37
190,516.06
187,177.77
207,216.15
245,991.22
262,403.66
279,163.11
286,509.39
227,727.36
239,226.94
251,500.65
283,354.36
269,669.15
266,709.19
307,009.78
310,188.50
261,049.17
Total
VIP
invested
Amount
amount
7,500
7,500
7,709
15,209
5,978
21,187
6,694
27,881
5,660
33,541
4,669
38,210
4,520
42,730
4,134
46,864
15,000
61,864
10,920
72,784
4,990
77,774
5,422
83,196
2,339
85,535
1,059
86,594
7,441
94,035
8,236
102,271
2,471
104,742
15,000
119,742
7,960
127,702
1,000
128,702
1,000
129,702
1,000
130,702
11,253
141,955
1,195
143,150
1,000
144,150
1,000
145,150
1,000
146,150
1,000
147,150
15,000
162,150
15,000
177,150
15,000
192,150
9,525
201,675
15,000
216,675
15,000
231,675
15,000
246,675
15,000
261,675
15,000
276,675
SIP Investing
Units
Total no. of
Cum SIP
bought
units
217
217
7,500
7,500
227
444
7,500
15,000
158
602
7,500
22,500
169
771
7,500
30,000
133
904
7,500
37,500
101
1,005
7,500
45,000
91
1,096
7,500
52,500
77
1,174
7,500
60,000
382
1,556
7,500
67,500
248
1,804
7,500
75,000
109
1,913
7,500
82,500
114
2,027
7,500
90,000
46
2,073
7,500
97,500
19
2,093
7,500
105,000
135
2,228
7,500
112,500
148
2,376
7,500
120,000
42
2,418
7,500
127,500
276
2,695
7,500
135,000
141
2,836
7,500
142,500
17
2,853
7,500
150,000
16
2,869
7,500
157,500
15
2,884
7,500
165,000
173
3,057
7,500
172,500
18
3,075
7,500
180,000
13
3,088
7,500
187,500
12
3,099
7,500
195,000
11
3,110
7,500
202,500
11
3,121
7,500
210,000
206
3,327
7,500
217,500
209
3,536
7,500
225,000
211
3,746
7,500
232,500
126
3,872
7,500
240,000
215
4,088
7,500
247,500
230
4,318
7,500
255,000
211
4,529
7,500
262,500
219
4,748
7,500
270,000
273
5,021
7,500
277,500
Units
Cumulative
bought
Units
217.45
217.45
220.85
438.30
198.36
636.66
189.30
825.96
176.47
1002.43
162.48
1164.91
150.91
1315.81
140.48
1456.29
191.18
1647.47
170.57
1818.04
163.36
1981.40
157.66
2139.06
147.90
2286.96
137.74
2424.70
135.97
2560.67
135.09
2695.77
128.58
2824.35
138.25
2962.60
133.20
3095.79
125.60
3221.40
120.31
3341.70
112.96
3454.66
115.58
3570.24
110.68
3680.92
93.77
3774.69
88.26
3862.95
83.28
3946.23
81.43
4027.67
102.81
4130.48
104.32
4234.80
105.45
4340.24
99.18
4439.42
107.71
4547.13
114.97
4662.10
105.49
4767.59
109.51
4877.10
136.42
5013.52
Portfolio
Value
7,500
14,885
24,072
32,724
42,603
53,772
65,396
77,751
64,630
79,939
90,966
101,755
115,972
132,025
141,244
149,664
164,739
160,724
174,318
192,353
208,325
229,372
231,677
249,434
301,911
328,250
355,390
370,940
301,310
304,465
308,700
335,722
316,617
304,141
338,957
334,013
275,633
nd Oct 2008
Difference
Annualized
-0.7578%
-0.7693%
7.5325%
6.9869%
9.6358%
9.0813%
14.6344% 13.6084%
21.5119% 19.4934%
27.5694% 24.5634%
33.7733% 29.5852%
-1.2922%
-4.2517%
9.0388%
6.5855%
12.9611% 10.2620%
15.9346% 13.0614%
22.9422% 18.9455%
31.6181% 25.7382%
30.6943% 25.5504%
29.0046% 24.7196%
34.6958% 29.2068%
22.1139% 19.0546%
25.0770% 22.3283%
32.3825% 28.2352%
37.9187% 32.2699%
46.5288% 39.0135%
39.7843% 34.3052%
45.5893% 38.5744%
71.3432% 61.0192%
81.4700% 68.3336%
91.6956% 75.5011%
95.3852% 76.6381%
49.6931% 38.5334%
43.5094% 35.3178%
38.6941% 32.7742%
45.2234% 39.8843%
31.3807% 27.9260%
21.5967% 19.2711%
30.5401% 29.1263%
24.2719% 23.7086%
-0.2262%
-0.6727%
Average:
0.0115%
0.5456%
0.5544%
1.0260%
2.0185%
3.0059%
4.1881%
2.9595%
2.4533%
2.6991%
2.8732%
3.9967%
5.8798%
5.1439%
4.2850%
5.4890%
3.0593%
2.7487%
4.1473%
5.6489%
7.5152%
5.4790%
7.0150%
10.3240%
13.1364%
16.1945%
18.7471%
11.1597%
8.1917%
5.9199%
5.3391%
3.4547%
2.3256%
1.4138%
0.5633%
0.4465%
4.999%
0.1386%
3.3186%
2.2362%
3.1096%
4.9130%
6.1022%
7.2865%
4.4719%
3.2843%
3.2476%
3.1385%
3.9967%
5.4155%
4.3932%
3.4135%
4.0891%
2.1499%
1.8242%
2.5997%
3.3520%
4.2276%
2.9523%
3.6006%
5.0352%
6.1034%
7.1731%
7.9359%
4.6385%
3.3116%
2.3272%
2.0339%
1.2818%
0.8395%
0.4967%
0.1928%
0.1486%
1.6392%
Average:
#DIV/0!
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
10th
of NAV
Value
50.71
0
7,500
54.45
7.375%
15,094
55.159
1.302%
22,782
55.518
0.651%
30,567
58.328
5.061%
38,449
54.251
-6.990%
46,430
56.308
3.792%
54,510
59.711
6.044%
62,692
62.341
4.405%
70,975
66.395
6.503%
79,362
64.891
-2.265%
87,855
67.764
4.427%
96,453
79.983
18.032%
105,158
84.974
6.240%
113,973
90.058
5.983%
122,898
92.098
2.265%
131,934
72.948
-20.793%
141,083
71.896
-1.442%
150,346
71.125
-1.072%
159,726
75.623
6.324%
169,222
69.63
-7.925%
178,838
65.237
-6.309%
188,573
71.096
8.981%
198,430
68.486
-3.671%
208,411
54.978
-19.724%
218,516
53.776
-2.186%
228,747
50.086
-6.862%
239,107
49.945
-0.282%
249,595
51.661
3.436%
260,215
47.567
-7.925%
270,968
57.161
20.169%
281,855
58.567
2.460%
292,878
76.139
30.003%
304,039
69.72
-8.431%
315,340
75.841
8.779%
326,782
81.307
7.207%
338,366
86.812
6.771%
350,096
Actual
Portfolio
Value
0.00
8,053.15
15,290.69
22,930.97
32,115.14
35,762.56
48,191.04
57,805.44
65,453.76
75,591.27
77,565.51
91,745.25
113,845.40
122,011.84
130,371.65
134,347.49
107,204.59
120,442.25
133,989.79
158,412.02
155,812.37
160,035.72
190,755.85
191,146.27
165,486.52
176,540.49
178,397.37
192,852.92
214,994.29
211,767.84
272,505.66
288,788.51
380,751.57
349,567.49
381,345.23
409,901.55
438,722.19
Total
VIP
invested
Amount
amount
7,500
7,500
7,041
14,541
7,492
22,033
7,637
29,670
6,335
36,005
10,668
46,673
6,320
52,993
4,887
57,880
5,522
63,402
3,772
67,174
10,290
77,464
4,708
82,172
1,000
83,172
1,000
84,172
1,000
85,172
1,000
86,172
15,000
101,172
15,000
116,172
15,000
131,172
10,811
141,983
15,000
156,983
15,000
171,983
7,675
179,658
15,000
194,658
15,000
209,658
15,000
224,658
15,000
239,658
15,000
254,658
15,000
269,658
15,000
284,658
9,350
294,008
4,090
298,098
1,000
299,098
1,000
300,098
1,000
301,098
1,000
302,098
1,000
303,098
SIP Investing
Units
Total no. of
Cum SIP
bought
units
148
148
7,500
7,500
129
277
7,500
15,000
136
413
7,500
22,500
138
551
7,500
30,000
109
659
7,500
37,500
197
856
7,500
45,000
112
968
7,500
52,500
82
1,050
7,500
60,000
89
1,139
7,500
67,500
57
1,195
7,500
75,000
159
1,354
7,500
82,500
69
1,423
7,500
90,000
13
1,436
7,500
97,500
12
1,448
7,500
105,000
11
1,459
7,500
112,500
11
1,470
7,500
120,000
206
1,675
7,500
127,500
209
1,884
7,500
135,000
211
2,095
7,500
142,500
143
2,238
7,500
150,000
215
2,453
7,500
157,500
230
2,683
7,500
165,000
108
2,791
7,500
172,500
219
3,010
7,500
180,000
273
3,283
7,500
187,500
279
3,562
7,500
195,000
299
3,861
7,500
202,500
300
4,162
7,500
210,000
290
4,452
7,500
217,500
315
4,767
7,500
225,000
164
4,931
7,500
232,500
70
5,001
7,500
240,000
13
5,014
7,500
247,500
14
5,028
7,500
255,000
13
5,042
7,500
262,500
12
5,054
7,500
270,000
12
5,065
7,500
277,500
Units
Cumulative
bought
Units
147.90
147.90
137.74
285.64
135.97
421.61
135.09
556.70
128.58
685.29
138.25
823.53
133.20
956.73
125.60
1082.33
120.31
1202.64
112.96
1315.60
115.58
1431.18
110.68
1541.86
93.77
1635.63
88.26
1723.89
83.28
1807.17
81.43
1888.60
102.81
1991.42
104.32
2095.73
105.45
2201.18
99.18
2300.36
107.71
2408.07
114.97
2523.04
105.49
2628.53
109.51
2738.04
136.42
2874.46
139.47
3013.92
149.74
3163.67
150.17
3313.83
145.18
3459.01
157.67
3616.68
131.21
3747.89
128.06
3875.95
98.50
3974.45
107.57
4082.02
98.89
4180.92
92.24
4273.16
86.39
4359.55
Portfolio
Value
7,500
15,553
23,256
30,907
39,971
44,677
53,871
64,627
74,974
87,349
92,871
104,482
130,822
146,486
162,750
173,937
145,270
150,675
156,559
173,960
167,674
164,595
186,878
187,517
158,032
162,077
158,455
165,509
178,696
172,035
214,233
227,003
302,611
284,599
317,085
347,438
378,461
nd Oct 2009
Difference
Annualized
3.8040%
3.6877%
3.4026%
3.3586%
3.0265%
3.0234%
6.7911%
6.5903%
-0.5194%
-0.7168%
2.8646%
2.6123%
8.3145%
7.7120%
11.9456% 11.0722%
18.1458% 16.4657%
13.4146% 12.5704%
17.3797% 16.0915%
38.0818% 34.1767%
46.1434% 39.5102%
54.2428% 44.6666%
57.0667% 44.9472%
20.7889% 13.9371%
16.5877% 11.6110%
13.5835%
9.8660%
19.1854% 15.9733%
8.8095%
6.4596%
1.7750%
-0.2453%
10.4492%
8.3349%
5.9018%
4.1763%
-13.9138% -15.7163%
-14.7413% -16.8837%
-19.3028% -21.7504%
-18.3796% -21.1860%
-14.7089% -17.8410%
-20.3367% -23.5401%
-4.1333%
-7.8567%
-1.7509%
-5.4156%
27.6343% 22.2670%
16.8177% 11.6074%
26.9836% 20.7942%
36.0160% 28.6806%
45.0759% 36.3825%
Average:
0.1163%
0.0440%
0.0031%
0.2008%
0.1973%
0.2523%
0.6025%
0.8734%
1.6802%
0.8442%
1.2882%
3.9051%
6.6332%
9.5761%
12.1195%
6.8518%
4.9767%
3.7175%
3.2121%
2.3498%
2.0203%
2.1143%
1.7255%
1.8025%
2.1424%
2.4477%
2.8065%
3.1321%
3.2034%
3.7234%
3.6646%
5.3673%
5.2103%
6.1894%
7.3353%
8.6934%
3.362%
1.4050%
0.2644%
0.0123%
0.6036%
0.4742%
0.5052%
1.0351%
1.3129%
2.2465%
1.0139%
1.4061%
3.9051%
6.1077%
8.1539%
9.5834%
5.0961%
3.4878%
2.4632%
2.0169%
1.4033%
1.1495%
1.1478%
0.8966%
0.8972%
1.0227%
1.1223%
1.2377%
1.3305%
1.3133%
1.4730%
1.4029%
1.9799%
1.8641%
2.1422%
2.4567%
2.8177%
1.1082%
Average:
#DIV/0!
SIP
Back-testing Value investing protocol with Relian

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
NAV on
appreciati Portfolio
10th
on of NAV
Value
91.91
0
7,500
95.16
-1.537%
15,094
102.67
11.337%
22,782
108.94
4.787%
30,567
119.52
7.269%
38,449
125.03
8.612%
46,430
121.26
7.669%
54,510
128.02
7.425%
62,692
134.42
-26.522%
70,975
138.78
12.083%
79,362
159.17
4.412%
87,855
169.34
3.616%
96,453
173.23
6.601%
105,158
165.78
7.375%
113,973
180.55
1.302%
122,898
196.96
0.651%
131,934
206.27
5.061%
141,083
220
-6.990%
150,346
240.14
3.792%
159,726
259.84
6.044%
169,222
188.25
4.405%
178,838
198.76
6.503%
188,573
204.79
-2.265%
198,430
217.79
4.427%
208,411
240.8
18.032%
218,516
255.64
6.240%
228,747
253.48
5.983%
239,107
266.75
2.265%
249,595
270.74
-20.793%
260,215
253.07
-1.442%
270,968
262.28
-1.072%
281,855
275.34
6.324%
292,878
290.43
-7.925%
304,039
317.25
-6.309%
315,340
308.98
8.981%
326,782
321.28
-3.671%
338,366
367.26
-19.724%
350,096
Actual
Portfolio
Value
0.00
7,384.75
16,804.91
23,873.04
32,789.15
41,760.45
49,990.61
58,557.42
46,064.69
62,838.76
76,052.48
89,163.94
102,819.36
112,914.08
115,456.90
123,697.38
138,611.45
131,221.51
146,576.12
166,038.87
176,675.82
190,467.33
187,130.15
205,857.94
245,990.61
262,403.01
279,162.43
286,508.69
227,726.81
234,298.49
241,678.68
267,595.04
255,596.08
248,839.46
282,086.09
281,363.34
233,895.59
Total
VIP
invested
Amount
amount
7,500
7,500
7,709
15,209
5,978
21,187
6,694
27,881
5,660
33,541
4,669
38,210
4,520
42,730
4,134
46,864
10,000
56,864
10,000
66,864
10,000
76,864
7,289
84,153
2,339
86,492
1,059
87,551
7,441
94,991
8,236
103,228
2,471
105,699
10,000
115,699
10,000
125,699
3,183
128,883
2,162
131,044
1,000
132,044
10,000
142,044
2,553
144,597
1,000
145,597
1,000
146,597
1,000
147,597
1,000
148,597
10,000
158,597
10,000
168,597
10,000
178,597
10,000
188,597
10,000
198,597
10,000
208,597
10,000
218,597
10,000
228,597
10,000
238,597
protocol with Reliance Growth - equity fund between Oct 2004 and Oct 2007
SIP Investing
Units
Total no.
bought
of units
217
217
227
444
158
603
169
772
133
905
101
1,006
91
1,097
77
1,174
255
1,429
227
1,657
218
1,874
153
2,028
46
2,074
19
2,093
135
2,228
148
2,376
42
2,419
184
2,603
178
2,781
53
2,834
35
2,869
15
2,884
154
3,038
38
3,076
13
3,088
12
3,100
11
3,111
11
3,122
137
3,259
139
3,398
141
3,539
132
3,671
144
3,814
153
3,968
141
4,108
146
4,254
182
4,436
Cum SIP
SIP
investmen
Amount
t
7,500
7,500
7,500
15,000
7,500
22,500
7,500
30,000
7,500
37,500
7,500
45,000
7,500
52,500
7,500
60,000
7,500
67,500
7,500
75,000
7,500
82,500
7,500
90,000
7,500
97,500
7,500
105,000
7,500
112,500
7,500
120,000
7,500
127,500
7,500
135,000
7,500
142,500
7,500
150,000
7,500
157,500
7,500
165,000
7,500
172,500
7,500
180,000
7,500
187,500
7,500
195,000
7,500
202,500
7,500
210,000
7,500
217,500
7,500
225,000
7,500
232,500
7,500
240,000
7,500
247,500
7,500
255,000
7,500
262,500
7,500
270,000
7,500
277,500
Units
Cumulativ Portfolio
bought
e Units
Value
217.45
217.45
7,500
220.85
438.30
14,885
198.36
636.66
24,072
189.30
825.96
32,725
176.47
1002.43
42,603
162.48
1164.91
53,772
150.91
1315.82
65,396
140.48
1456.29
77,751
191.18
1647.47
64,630
170.57
1818.04
79,939
163.36
1981.41
90,966
157.66
2139.07
101,755
147.90
2286.97
115,972
137.74
2424.71
132,025
135.97
2560.68
141,244
135.09
2695.77
149,664
128.58
2824.35
164,739
138.25
2962.60
160,724
133.20
3095.80
174,318
125.60
3221.40
192,353
120.31
3341.71
208,325
112.96
3454.67
229,373
115.58
3570.25
231,677
110.68
3680.92
249,434
93.77
3774.69
301,911
88.26
3862.96
328,251
83.28
3946.24
355,390
81.43
4027.67
370,940
102.81
4130.48
301,311
104.32
4234.80
304,465
105.45
4340.25
308,700
99.18
4439.43
335,723
107.71
4547.14
316,617
114.97
4662.10
304,142
105.49
4767.59
338,957
109.51
4877.11
334,013
136.42
5013.52
275,634
2004 and Oct 2007

Difference
Annualize
d
-0.7578%
-0.7683%
7.5327%
6.9876%
9.6358%
9.0819%
14.6343% 13.6089%
21.5116% 19.4939%
27.5693% 24.5638%
33.7731% 29.5856%
-1.4060%
-4.2514%
8.9354%
6.5857%
11.9539% 10.2622%
14.6159% 13.0616%
21.5817% 18.9458%
30.1792% 25.7385%
29.3776% 25.5507%
27.8085% 24.7198%
33.4759% 29.2070%
22.0593% 19.0548%
24.5642% 22.3285%
31.2996% 28.2354%
36.4710% 32.2701%
45.0022% 39.0137%
38.7806% 34.3054%
44.1320% 38.5745%
69.6398% 61.0194%
79.6782% 68.3338%
89.8157% 75.5013%
93.4820% 76.6383%
49.8935% 38.5336%
44.9008% 35.3179%
40.9198% 32.7743%
47.1895% 39.8844%
33.7361% 27.9261%
24.0858% 19.2712%
33.6185% 29.1264%
27.4571% 23.7087%
2.2207%
-0.6726%
Average:
0.0106%
0.5450%
0.5539%
1.0254%
2.0177%
3.0054%
4.1874%
2.8454%
2.3496%
1.6917%
1.5543%
2.6359%
4.4407%
3.8269%
3.0887%
4.2689%
3.0044%
2.2357%
3.0642%
4.2009%
5.9885%
4.4753%
5.5574%
8.6204%
11.3444%
14.3144%
16.8437%
11.3600%
9.5829%
8.1455%
7.3050%
5.8100%
4.8146%
4.4920%
3.7485%
2.8933%
4.885%
0.1268%
3.3151%
2.2340%
3.1079%
4.9111%
6.1012%
7.2854%
4.2984%
3.1450%
2.0335%
1.6968%
2.6359%
4.0923%
3.2714%
2.4634%
3.1849%
2.1115%
1.4850%
1.9245%
2.4998%
3.3793%
2.4167%
2.8620%
4.2211%
5.2933%
6.3692%
7.1635%
4.7193%
3.8593%
3.1819%
2.7668%
2.1404%
1.7246%
1.5629%
1.2697%
0.9553%
1.6024%
Average:
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
NAV on
10th
on of NAV
Value
173.23
0
7,500
165.78
-1.537%
15,094
180.55
11.337%
22,782
196.96
4.787%
30,567
206.27
7.269%
38,449
220
8.612%
46,430
240.14
7.669%
54,510
259.84
7.425%
62,692
188.25
-26.522%
70,975
198.76
12.083%
79,362
204.79
4.412%
87,855
217.79
3.616%
96,453
240.8
6.601%
105,158
255.64
7.375%
113,973
253.48
1.302%
122,898
266.75
0.651%
131,934
270.74
5.061%
141,083
253.07
-6.990%
150,346
262.28
3.792%
159,726
275.34
6.044%
169,222
290.43
4.405%
178,838
317.25
6.503%
188,573
308.98
-2.265%
198,430
321.28
4.427%
208,411
367.26
18.032%
218,516
396.23
6.240%
228,747
442.54
5.983%
239,107
463.56
2.265%
249,595
364.5
-20.793%
260,215
344.89
-1.442%
270,968
334.9
-1.072%
281,855
357.03
6.324%
292,878
327.94
-7.925%
304,039
306.6112
-6.309%
315,340
335.7294
8.981%
326,782
318.5668
-3.671%
338,366
229.8445
-19.724%
350,096
Actual
Portfolio
Value
0.00
7,384.75
16,804.91
23,873.04
32,789.15
41,760.45
49,990.61
58,557.42
46,064.69
62,838.76
76,052.48
89,163.94
102,819.36
112,914.08
115,456.90
123,697.38
138,611.45
131,221.51
146,576.12
166,038.87
176,675.82
190,467.33
187,130.15
205,857.94
245,990.61
262,403.01
279,162.43
286,508.69
227,726.81
234,298.49
241,678.68
267,595.04
255,596.08
248,839.46
282,086.09
281,363.34
233,895.59
Total
VIP
invested
Amount
amount
7,500
7,500
7,709
15,209
5,978
21,187
6,694
27,881
5,660
33,541
4,669
38,210
4,520
42,730
4,134
46,864
10,000
56,864
10,000
66,864
10,000
76,864
7,289
84,153
2,339
86,492
1,059
87,551
7,441
94,991
8,236
103,228
2,471
105,699
10,000
115,699
10,000
125,699
3,183
128,883
2,162
131,044
1,000
132,044
10,000
142,044
2,553
144,597
1,000
145,597
1,000
146,597
1,000
147,597
1,000
148,597
10,000
158,597
10,000
168,597
10,000
178,597
10,000
188,597
10,000
198,597
10,000
208,597
10,000
218,597
10,000
228,597
10,000
238,597
SIP Investing
Units
Total no.
bought
of units
217
217
227
444
158
603
169
772
133
905
101
1,006
91
1,097
77
1,174
255
1,429
227
1,657
218
1,874
153
2,028
46
2,074
19
2,093
135
2,228
148
2,376
42
2,419
184
2,603
178
2,781
53
2,834
35
2,869
15
2,884
154
3,038
38
3,076
13
3,088
12
3,100
11
3,111
11
3,122
137
3,259
139
3,398
141
3,539
132
3,671
144
3,814
153
3,968
141
4,108
146
4,254
182
4,436
Cum SIP
SIP
investmen
Amount
t
7,500
7,500
7,500
15,000
7,500
22,500
7,500
30,000
7,500
37,500
7,500
45,000
7,500
52,500
7,500
60,000
7,500
67,500
7,500
75,000
7,500
82,500
7,500
90,000
7,500
97,500
7,500
105,000
7,500
112,500
7,500
120,000
7,500
127,500
7,500
135,000
7,500
142,500
7,500
150,000
7,500
157,500
7,500
165,000
7,500
172,500
7,500
180,000
7,500
187,500
7,500
195,000
7,500
202,500
7,500
210,000
7,500
217,500
7,500
225,000
7,500
232,500
7,500
240,000
7,500
247,500
7,500
255,000
7,500
262,500
7,500
270,000
7,500
277,500
Units
Cumulativ Portfolio
bought
e Units
Value
217.45
217.45
7,500
220.85
438.30
14,885
198.36
636.66
24,072
189.30
825.96
32,725
176.47
1002.43
42,603
162.48
1164.91
53,772
150.91
1315.82
65,396
140.48
1456.29
77,751
191.18
1647.47
64,630
170.57
1818.04
79,939
163.36
1981.41
90,966
157.66
2139.07
101,755
147.90
2286.97
115,972
137.74
2424.71
132,025
135.97
2560.68
141,244
135.09
2695.77
149,664
128.58
2824.35
164,739
138.25
2962.60
160,724
133.20
3095.80
174,318
125.60
3221.40
192,353
120.31
3341.71
208,325
112.96
3454.67
229,373
115.58
3570.25
231,677
110.68
3680.92
249,434
93.77
3774.69
301,911
88.26
3862.96
328,251
83.28
3946.24
355,390
81.43
4027.67
370,940
102.81
4130.48
301,311
104.32
4234.80
304,465
105.45
4340.25
308,700
99.18
4439.43
335,723
107.71
4547.14
316,617
114.97
4662.10
304,142
105.49
4767.59
338,957
109.51
4877.11
334,013
136.42
5013.52
275,634
2005 and Oct 2008

Difference
Annualize
d
-0.7578%
-0.7683%
7.5327%
6.9876%
9.6358%
9.0819%
14.6343% 13.6089%
21.5116% 19.4939%
27.5693% 24.5638%
33.7731% 29.5856%
-1.4060%
-4.2514%
8.9354%
6.5857%
11.9539% 10.2622%
14.6159% 13.0616%
21.5817% 18.9458%
30.1792% 25.7385%
29.3776% 25.5507%
27.8085% 24.7198%
33.4759% 29.2070%
22.0593% 19.0548%
24.5642% 22.3285%
31.2996% 28.2354%
36.4710% 32.2701%
45.0022% 39.0137%
38.7806% 34.3054%
44.1320% 38.5745%
69.6398% 61.0194%
79.6782% 68.3338%
89.8157% 75.5013%
93.4820% 76.6383%
49.8935% 38.5336%
44.9008% 35.3179%
40.9198% 32.7743%
47.1895% 39.8844%
33.7361% 27.9261%
24.0858% 19.2712%
33.6185% 29.1264%
27.4571% 23.7087%
2.2207%
-0.6726%
Average:
0.0106%
0.5450%
0.5539%
1.0254%
2.0177%
3.0054%
4.1874%
2.8454%
2.3496%
1.6917%
1.5543%
2.6359%
4.4407%
3.8269%
3.0887%
4.2689%
3.0044%
2.2357%
3.0642%
4.2009%
5.9885%
4.4753%
5.5574%
8.6204%
11.3444%
14.3144%
16.8437%
11.3600%
9.5829%
8.1455%
7.3050%
5.8100%
4.8146%
4.4920%
3.7485%
2.8933%
4.885%
0.1268%
3.3151%
2.2340%
3.1079%
4.9111%
6.1012%
7.2854%
4.2984%
3.1450%
2.0335%
1.6968%
2.6359%
4.0923%
3.2714%
2.4634%
3.1849%
2.1115%
1.4850%
1.9245%
2.4998%
3.3793%
2.4167%
2.8620%
4.2211%
5.2933%
6.3692%
7.1635%
4.7193%
3.8593%
3.1819%
2.7668%
2.1404%
1.7246%
1.5629%
1.2697%
0.9553%
1.6024%
Average:
SIP

Value Investing
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
%
Target
NAV on
10th
on of NAV
Value
240.8
0
7,500
255.64
-1.537%
15,094
253.48
11.337%
22,782
266.75
4.787%
30,567
270.74
7.269%
38,449
253.07
8.612%
46,430
262.28
7.669%
54,510
275.34
7.425%
62,692
290.43
-26.522%
70,975
317.25
12.083%
79,362
308.98
4.412%
87,855
321.28
3.616%
96,453
367.26
6.601%
105,158
396.23
7.375%
113,973
442.54
1.302%
122,898
463.56
0.651%
131,934
364.5
5.061%
141,083
344.89
-6.990%
150,346
334.9
3.792%
159,726
357.03
6.044%
169,222
327.94
4.405%
178,838
306.6112
6.503%
188,573
335.7294
-2.265%
198,430
318.5668
4.427%
208,411
229.8445
18.032%
218,516
231.7706
6.240%
228,747
206.7918
5.983%
239,107
206.3527
2.265%
249,595
205.2696
-20.793%
260,215
185.0774
-1.442%
270,968
238.2719
-1.072%
281,855
252.4979
6.324%
292,878
339.2709
-7.925%
304,039
307.2102
-6.309%
315,340
343.0189
8.981%
326,782
375.558
-3.671%
338,366
392.462
-19.724%
350,096
Actual
Portfolio
Value
0.00
7,384.75
16,804.91
23,873.04
32,789.15
41,760.45
49,990.61
58,557.42
46,064.69
62,838.76
76,052.48
89,163.94
102,819.36
112,914.08
115,456.90
123,697.38
138,611.45
131,221.51
146,576.12
166,038.87
176,675.82
190,467.33
187,130.15
205,857.94
245,990.61
262,403.01
279,162.43
286,508.69
227,726.81
234,298.49
241,678.68
267,595.04
255,596.08
248,839.46
282,086.09
281,363.34
233,895.59
Total
VIP
invested
Amount
amount
7,500
7,500
7,709
15,209
5,978
21,187
6,694
27,881
5,660
33,541
4,669
38,210
4,520
42,730
4,134
46,864
10,000
56,864
10,000
66,864
10,000
76,864
7,289
84,153
2,339
86,492
1,059
87,551
7,441
94,991
8,236
103,228
2,471
105,699
10,000
115,699
10,000
125,699
3,183
128,883
2,162
131,044
1,000
132,044
10,000
142,044
2,553
144,597
1,000
145,597
1,000
146,597
1,000
147,597
1,000
148,597
10,000
158,597
10,000
168,597
10,000
178,597
10,000
188,597
10,000
198,597
10,000
208,597
10,000
218,597
10,000
228,597
10,000
238,597
SIP Investing
Units
Total no.
bought
of units
217
217
227
444
158
603
169
772
133
905
101
1,006
91
1,097
77
1,174
255
1,429
227
1,657
218
1,874
153
2,028
46
2,074
19
2,093
135
2,228
148
2,376
42
2,419
184
2,603
178
2,781
53
2,834
35
2,869
15
2,884
154
3,038
38
3,076
13
3,088
12
3,100
11
3,111
11
3,122
137
3,259
139
3,398
141
3,539
132
3,671
144
3,814
153
3,968
141
4,108
146
4,254
182
4,436
Cum SIP
SIP
investmen
Amount
t
7,500
7,500
7,500
15,000
7,500
22,500
7,500
30,000
7,500
37,500
7,500
45,000
7,500
52,500
7,500
60,000
7,500
67,500
7,500
75,000
7,500
82,500
7,500
90,000
7,500
97,500
7,500
105,000
7,500
112,500
7,500
120,000
7,500
127,500
7,500
135,000
7,500
142,500
7,500
150,000
7,500
157,500
7,500
165,000
7,500
172,500
7,500
180,000
7,500
187,500
7,500
195,000
7,500
202,500
7,500
210,000
7,500
217,500
7,500
225,000
7,500
232,500
7,500
240,000
7,500
247,500
7,500
255,000
7,500
262,500
7,500
270,000
7,500
277,500
Units
Cumulativ Portfolio
bought
e Units
Value
217.45
217.45
7,500
220.85
438.30
14,885
198.36
636.66
24,072
189.30
825.96
32,725
176.47
1002.43
42,603
162.48
1164.91
53,772
150.91
1315.82
65,396
140.48
1456.29
77,751
191.18
1647.47
64,630
170.57
1818.04
79,939
163.36
1981.41
90,966
157.66
2139.07
101,755
147.90
2286.97
115,972
137.74
2424.71
132,025
135.97
2560.68
141,244
135.09
2695.77
149,664
128.58
2824.35
164,739
138.25
2962.60
160,724
133.20
3095.80
174,318
125.60
3221.40
192,353
120.31
3341.71
208,325
112.96
3454.67
229,373
115.58
3570.25
231,677
110.68
3680.92
249,434
93.77
3774.69
301,911
88.26
3862.96
328,251
83.28
3946.24
355,390
81.43
4027.67
370,940
102.81
4130.48
301,311
104.32
4234.80
304,465
105.45
4340.25
308,700
99.18
4439.43
335,723
107.71
4547.14
316,617
114.97
4662.10
304,142
105.49
4767.59
338,957
109.51
4877.11
334,013
136.42
5013.52
275,634
2006 and Oct 2009

Difference
Annualize
d
-0.7578%
-0.7683%
7.5327%
6.9876%
9.6358%
9.0819%
14.6343% 13.6089%
21.5116% 19.4939%
27.5693% 24.5638%
33.7731% 29.5856%
-1.4060%
-4.2514%
8.9354%
6.5857%
11.9539% 10.2622%
14.6159% 13.0616%
21.5817% 18.9458%
30.1792% 25.7385%
29.3776% 25.5507%
27.8085% 24.7198%
33.4759% 29.2070%
22.0593% 19.0548%
24.5642% 22.3285%
31.2996% 28.2354%
36.4710% 32.2701%
45.0022% 39.0137%
38.7806% 34.3054%
44.1320% 38.5745%
69.6398% 61.0194%
79.6782% 68.3338%
89.8157% 75.5013%
93.4820% 76.6383%
49.8935% 38.5336%
44.9008% 35.3179%
40.9198% 32.7743%
47.1895% 39.8844%
33.7361% 27.9261%
24.0858% 19.2712%
33.6185% 29.1264%
27.4571% 23.7087%
2.2207%
-0.6726%
Average:
0.0106%
0.5450%
0.5539%
1.0254%
2.0177%
3.0054%
4.1874%
2.8454%
2.3496%
1.6917%
1.5543%
2.6359%
4.4407%
3.8269%
3.0887%
4.2689%
3.0044%
2.2357%
3.0642%
4.2009%
5.9885%
4.4753%
5.5574%
8.6204%
11.3444%
14.3144%
16.8437%
11.3600%
9.5829%
8.1455%
7.3050%
5.8100%
4.8146%
4.4920%
3.7485%
2.8933%
4.885%
0.1268%
3.3151%
2.2340%
3.1079%
4.9111%
6.1012%
7.2854%
4.2984%
3.1450%
2.0335%
1.6968%
2.6359%
4.0923%
3.2714%
2.4634%
3.1849%
2.1115%
1.4850%
1.9245%
2.4998%
3.3793%
2.4167%
2.8620%
4.2211%
5.2933%
6.3692%
7.1635%
4.7193%
3.8593%
3.1819%
2.7668%
2.1404%
1.7246%
1.5629%
1.2697%
0.9553%
1.6024%
Average:
SIP

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Back-testing Value investing protocol wit

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