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Table of Contents
An Important message..............3
Risk Profile
Current Vis a Vis Recommended Allocation
Portfolio Risk Vs. Return
Historical Return of Portfolio
Portfolio Diversification- Stock
Consensus View on Stock
Mutual Fund Risk/Return
Annexure.........................36-46
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An Important Message
We are pleased to present you with your Portfolio Evaluation Report (PER). Based on the
information that you have provided, we have analyzed your portfolio and prepared an action
plan that will help to effectively manage your portfolio.
Please note that the analysis is based on average daily rolling returns calculated for the period of
last 5 years. The analysis has been done assuming that you have held the same portfolio in the
past and assumed that it is a long term strategic portfolio.
Objective
The objective of the reports is to identify and evaluate the risks in the portfolio. The risks in a
portfolio could be related to inadequate diversification, holding stocks with inadequate expected
returns on risk, sector diversification, over exposure, fund manager risk etc. For direct stock
portfolio, the report looks at rebalancing the current stock allocations and attempts to
recommend a portfolio with a higher reward to risk ratio. The report uses a Mean Variance
Optimization tool with constraints to recommend a rebalanced portfolio. No fresh stock
specific allocations are recommended through this report. Given that the basis of
recommendation is a higher reward to risk ratio, the recommended portfolio does not guarantee
a higher return than the existing portfolio.
Sincerely,
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Risk Profile
Lets begin with determining your risk profile. It provides guidelines on which assets to allocate
as per your risk appetite.
Risk profile is determined based on the information provided by you and your responses in the
risk profiling exercise.
High
Aggressive
Return Moderate
Low
Conservative Your Risk Profile
You have emerged as an investor with an Aggressive profile. Investors with this profile
typically have the following characteristics.
2. You are comfortable with initial fluctuations in the value of your investments to generate high
returns
3. You understand that taking larger risks helps earn higher returns
4. You prefer investing in avenues such as equity that provide high returns but at the same time
pose high risks
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Asset Allocation
The second step involves determining appropriate Asset Allocation based on your Risk Profile.
Asset Allocation is the most important factor in portfolio evaluation and indicates the distribution
of your investments in different asset classes i.e. equity, debt, cash & alternate
Lets analyze your current portfolio allocation vis a vis the suggested asset allocation.
Note: The suggested asset allocation is as per your risk profile alone & not based on your life goals, we would
recommend you go through financial planning service for knowing the exact asset allocation.
Portfolio Alerts
You are overweight in cash by ~ 7% of the portfolio, you should look to invest your savings
(` 20 Lakhs)
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The returns on a portfolio should be evaluated with the risk associated with the investments. It is
obvious to expect higher returns from a riskier portfolio.
Portfolio Alerts
The standard deviation (Risk) of the portfolio is ~ 10% with 61% equity exposure, which is
similar when compared with the suggested standard deviation for the Aggressive risk profile
~ 10% with 60% equity exposure
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Portfolio Alerts
Your Portfolio has delivered positive returns during all of the time periods
Note: For the above analysis we have excluded TATA CAP LTD PREF 21AP22 and then Arvind Infrastructure
Ltd., Axis Midcap Fund(D), Axis Midcap Fund(G), DSPBR Micro-Cap Fund(G)-Direct Plan, Franklin India High
Growth Cos Fund(G)-Direct Plan, Franklin India Ultra Short Bond Fund(DD)-Direct Plan, Goldman Sachs Mutual
Fund - CPSE ETF - Growth Option, HDFC CPO Fund-III-1207D-Dec14(G)-Direct Plan, HDFC FMP-XXIV-1919D-
January 2013(1)(G), HDFC FMP-XXXI-1116D-July 2014(1)(G)-Direct Plan, HDFC FMP-XXXI-747D-June 2014(1)(G)-
Direct Plan, HDFC FMP-XXXII-1113D-Nov 2014(1)(G)-Direct Plan, HDFC FMP-XXXII-1134D-Sep 2014(1)-Reg(G),
HDFC FMP-XXXIII-1157D-Feb 2015(1)-Reg(G), HDFC Medium Term Opportunities Fund(QD)-Direct Plan, ICICI Pru
CPO Fund-VII-C-1284D(G), ICICI Pru FMP-74-780D-E(G), ICICI Pru FMP-75-1100D-N(G), ICICI Pru FMP-75-1246D-
U(G)-Direct Plan, ICICI Prudential Life Insurance Company Ltd., L&T Finance Holdings Ltd., MOSt Focused
Midcap 30 Fund-Reg(G), RBL Bank Ltd., Reliance Dual Adv FTF-VI-A-1094D-(G), Reliance FHF-XXVI-35-1095D(G)
and SBI DAF-VI-Reg(G) as they do not have full 5 year performance history and considered the rest of the
portfolio as 100%.
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Top Out performers in each time period for risky assets Top Under performers in each time period for risky assets
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Portfolio Alerts
Out of 47 stocks, 15 stocks have delivered positive returns across all the time periods
Out of 21 equity MF schemes, 18 schemes have delivered positive returns across all the
time periods
Out of 47 stocks, 3 stocks such as Adani Power Ltd., Adani Power Ltd., GVK Power &
Infrastructure Ltd. and Jaypee Infratech Ltd. have significantly underperformed within your
portfolio and delivered negative returns during most of the time periods (Loss Aversion
Bias^ Pg. No. 19)
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Ideally, Sectoral cap should be at ~25% of the portfolio & individual stock cap at ~10% of the
portfolio.
Portfolio Alerts
Your stocks and sectors exposure are well within the specified limits
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1. Banking
During Q1FY17, the banking systems NPA woes moderated compared to Q4FY16 levels, largely
due to a steep rise in impaired assets seen then owing to asset quality review (AQR) done by the
RBI
GNPA increased 8.4% QoQ (up 96% YoY) to ` 623373 crore. Accordingly, GNPA ratio rose ~80
bps QoQ to 8.5%. Private banks also saw higher stress with 12.4% QoQ GNPA surge vs. 8%
QoQ seen in PSU banks. However, YoY, PSU banks continued to witness higher increase of
100% YoY to ` 565042 crore vs. 67% YoY increase in case of private banks. Provisions at `
41571 crore were lowest in the last three quarters. GNPA along with restructured assets were at
~12%
Revenue (NII + other income) was up 11% YoY in Q1FY17 vs. 7% YoY in Q4FY16, mainly
supported by higher treasury gains. As yields have corrected 30-40 bps further, such gains can
continue. NII growth remained muted at (3.3% YoY) to ` 71877 crore on interest reversals &
lower loan growth of ~9% YoY. Operating profit saw positive traction of 9.6% YoY. This
combined with reduced provisioning led the system to return to profit of ` 9480 crore mainly led
by private banks. PSU banks continued to report losses at ` 473 crore though it was significantly
lower than seen in the previous two quarters
2. Pharmaceuticals
The Q1 earnings season concluded on expected line with US focused generic players more or
less managing to overcome pricing pressure with exclusivities and higher volumes. I-direct
pharma universe registered YoY revenue growth of 9.4% to ` 35662 crore, driven by 15.2% YoY
growth to ` 11496 in the US and 7.6% YoY growth to ` 7863 crore in domestic formulations
(select pack). EBITDA for the universe grew 7.2% YoY to ` 8579 crore. Lower growth vis--vis
revenues can be attributed to higher R&D spend and remedial costs. Adjusted net profit grew
8.5% YoY to ` 5919 crore
On the revenue front, Natco (46% growth) and Lupin (41% growth) were standout performers.
Natcos revenues were largely driven by robust growth in Hepatitis C segment while Lupin
benefited from exclusivity sales in the US. Alembic, Divis, Sun, Biocon and Ajanta also reported
more than 20% growth. On the other hand, Dr Reddys, Torrent and Cipla reported negative
growth mainly due to high base and price erosion in the US
Domestic growth was largely impacted by ongoing NLEM/FDC related issues. Biocon, Ajanta,
Unichem and Indoco witnessed decent growth
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Portfolio Alerts
Your equity portfolio has over exposure to sectors like Construction - Turnkey/Engineering,
Metals/Mining, Power Generation/Distribution and Textiles when compared to Nifty
Your equity portfolio has under exposure to sectors like Automobiles, Banks and IT software
when compared to Nifty
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% of Market View
Sr. House
Stocks Value Stock Consensus Consensus Consensus
No. View
Portfolio Buy Hold Sell
Power Generation/Distribution
36 Adani Power Ltd. 39,000 0.93% 2 9 4 Sell*
37 GVK Power & Infrastructure Ltd. 67,700 1.61% NA NA NA NA
38 JSW Energy Ltd. 60,255 1.43% 9 4 3 Add*
39 Power Grid Corporation Of India Ltd. 362,105 8.61% 15 0 0 Buy
40 PTC India Ltd. 29,660 0.71% 5 1 1 Hold
41 Reliance Infrastructure Ltd. 55,610 1.32% NA NA NA NA
Shipping, Shipbuilding and Ports
42 Adani Ports and SEZ Ltd. 45,750 1.09% 13 0 0 NA
43 Reliance Defence and Engineering Ltd. 48,000 1.14% NA NA NA Hold
Textiles
44 Arvind Ltd. 323,600 7.70% 6 2 2 Buy
45 Himatsingka Seide Ltd. 136,975 3.26% NA NA NA NA
46 Trident Ltd. 59,250 1.41% NA NA NA NA
Trading
47 MMTC Ltd. 23,275 0.55% NA NA NA NA
Total 4,203,419 100.00%
Note: 1. Any Stock covered by less than 5 Research Houses is not taken into consideration.
2. Consensus Views: As on June 2016 ending quarter
3. * Institutional Research Desk
House-view - Snapshot
Value to stock % of stock
House-view No. of stocks
portfolio (in `) Portfolio
Buy 8 1,410,290 33.55%
Buy* 3 203,940 4.85%
Add* 1 60,255 1.43%
Hold 13 1,150,263 27.36%
Hold* 1 76,850 1.83%
Reduce* 1 63,931 1.52%
Sell NA NA NA
Sell* 1 39,000 0.93%
NA 19 1,198,891 28.52%
Grand Total 47 4,203,419 100.00%
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Portfolio Alerts
Your direct equity portfolio is over diversified to 47 stocks; ideally it should be restricted to
~ 30 stocks (Nave Investment Bias^ Pg. No. 19)
Out of 47 direct equity stocks, 10 are tail stocks (< 1.00% of the stock portfolio) Individual
tail stocks do not have any impact on the performance of the portfolio (~ 6% of the direct
equity portfolio amounting to ~ ` 2.39 Lakhs)
Out of 47 direct equity stocks, 19 are not rated by our Research Team, you have to review
the performance of these stocks on your own or refer Consensus View, if available above (~
29% of the stock portfolio amounting to ~ ` 11.98 Lakhs)
Based on House View, you may want to review your exposures to stock like Adani Power
Ltd. and Engineers India Ltd. (~ 2% of the stock portfolio amounting to ~ ` 1.02 Lakhs)
Behavioral Finance study the effects of psychological, social, cognitive, and emotional factors on
the economic decisions of individuals and institutions and the consequences for returns and the asset
allocation.
Analysis of the portfolio reveals following biases that may be affecting your investment decision
processes:
Investors who generally avoid taking risks, when exhibits this bias, are much more willing to take
risks when they think they might be able to avert a loss. For e.g. an investor might hold on to a
losing stock in the hope to recover the loss.
Investors who exhibit this bias believe that by simply investing in many stocks / equity MF schemes
will reduce risk sufficiently to make profit; instead it results in increased monitoring costs without
commensurate increase in diversification benefits.
Awareness of these biases and their effects can possibly help you to avoid pitfalls while managing your
portfolio that can impact future performance
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Note: For the above analysis we have excluded Arvind Infrastructure Ltd., ICICI Prudential Life Insurance
Company Ltd. and RBL Bank Ltd. as they do not have full 3 year performance history and considered the rest of
the portfolio as 100%.
Portfolio Alerts:
Out of 44 stocks, 21 stocks have either given negative return or returns less than the Risk -
free Rate; assumed at 6% p.a. The same have been highlighted in red colour (Loss
Aversion Bias^ Pg. No. 19)
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Note: The above graph is based on the simulation of clients stock portfolio, house view on the same and Nifty Index
wherein all possible combination of weights of the securities in the clients stock portfolio are used to construct all
possible portfolios, each different portfolio with its own average return & standard deviation (risk) based on the
historical return.
The analysis identifies the best possible portfolio (based on Sharpe) on the efficient curve, with the existing stocks and
Nifty. If the Efficient portfolio shows allocation towards Nifty, it signifies that the securities in the current portfolio are
not good enough to outperform Market (Nifty). We consider clients direct equity stocks which have completed full
three year history. BSE closing stock prices are taken for calculating return.
Portfolio Alerts
Your stock portfolio does not lie on the efficient frontier. There is a potential to move to
efficient (minimum variance) portfolio
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Note: For the above analysis we have excluded Arvind Infrastructure Ltd., ICICI Prudential Life Insurance
Company Ltd. and RBL Bank Ltd. as they do not have full 3 year performance history and considered the rest of
the portfolio as 100%.
Portfolio Alerts:
As per Efficient Frontier analysis, Out of 44 stocks you need to exit / partially reduce
exposure from 29 stocks which have underperformed on risk & return parameter. The same
have been highlighted in red colour (~ 47% of stock portfolio amounting to ~ ` 18.67 Lakhs)
The Current Portfolios maximum drawdown is ~ 73% whereas the proposed portfolios
Maximum drawdown is ~ 68% indicating that the existing stock portfolio is riskier than the
proposed portfolio
The Proposed portfolio shows allocation to Nifty (~ 10%), indicating that the existing stocks
in your portfolio is not good enough to make the best portfolio, hence we would suggest to
allocate the same proportion to Diversified Equity Mutual Fund Schemes
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Note: For the above analysis, we have excluded Axis Midcap Fund(D), Axis Midcap Fund(G), DSPBR Micro-Cap
Fund(G)-Direct Plan, Franklin India High Growth Cos Fund(G)-Direct Plan and MOSt Focused Midcap 30 Fund-
Reg(G) as they do not have full 5 year performance history and considered the rest of the portfolio as 100%.
Portfolio Alerts
Your Mutual Fund Portfolios Sharpe of 0.99 is higher when compared with Ideal Mutual
Fund Portfolios Sharpe of 0.95
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Level of Risk
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Value to MF Portfolio
Crisil Rating No. of Funds % of MF Portfolio
(in `)
* 15 4,186,855 29.68%
A 3 1,845,523 13.08%
B 6 2,142,234 15.19%
C 4 1,736,484 12.31%
D 3 1,265,533 8.97%
E 6 2,928,555 20.76%
Total 37 14,105,183 100.00%
Value to MF Portfolio
House-view No. of Funds % of MF Portfolio
(in `)
Buy 6 4,185,667 29.67%
Hold 7 2,576,046 18.26%
NA 19 5,721,972 40.57%
Sell 5 1,621,498 11.50%
Total 37 14,105,183 100.00%
Portfolio Alert
Based on House View, you may want to review your exposures to Axis Midcap Fund (D) &
(G), Franklin India Prima Fund (D), IDFC Premier Equity Fund-Reg (D) and UTI Bluechip
Flexicap Fund(D) (~ 12% of the MF portfolio amounting to ~ ` 16.21 Lakhs)
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Portfolio Alert
Portfolio Alert
~ 12% of your Equity MF Portfolio is managed by a single fund manager Mr. Manish
Gunwani of ICICI Pru Mutual Fund
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Portfolio Alert
Portfolio Alert
~ 30% of your Debt MF Portfolio is managed by a single fund manager Mr. Shobhit
Mehrotra of HDFC Mutual Fund; ideally it should be restricted to ~ 25% of the MF portfolio
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Benchmarks
CRISIL Balanced Fund -
1 5575.77 1.03 7.43 6.51 12.15 10.64
Aggressive Index
Crisil Short Term Bond
2 2774.80 1.79 4.40 8.66 9.61 9.26
Fund Index
3 NIFTY 200 4641.50 2.18 11.06 7.42 15.16 12.12
4 NIFTY 50 8615.25 0.29 8.20 4.29 11.90 10.61
5 NIFTY 500 7476.75 2.84 12.10 8.63 16.76 12.65
Nifty Free Float Midcap
6 15791.15 8.50 18.93 18.17 28.88 17.40
100
7 NIFTY MNC 10401.55 4.08 13.56 7.84 20.67 16.84
8 NIFTY SERV SECTOR 10942.65 -0.10 6.33 2.32 13.79 11.99
9 S&P BSE 100 8911.76 1.32 10.25 6.40 13.27 11.32
10 S&P BSE 200 3748.05 2.30 11.41 7.91 15.45 12.20
11 S&P BSE 500 11833.43 2.99 12.31 8.78 16.46 12.32
12 S&P BSE BANKEX 22347.13 3.60 15.24 9.82 21.50 15.29
13 S&P BSE Small-Cap 13428.98 10.53 20.86 17.42 32.03 14.23
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Benchmarks
Crisil Composite Bond Fund
1 2723.86 2.87 6.36 10.64 11.45 9.68
Index
2 Crisil Liquid Fund Index 2599.62 1.22 3.16 7.14 8.50 8.59
3 Crisil MIP Blended Index 3347.34 2.45 6.63 9.75 11.69 10.00
Crisil Short Term Bond Fund
4 2774.80 1.79 4.40 8.66 9.61 9.26
Index
5 I-Sec Composite Gilt Index 8707.48 3.87 7.65 12.36 11.77 10.64
6 I-Sec Li-BEX 12040.54 4.99 9.73 14.27 13.54 11.63
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Annexure
I Overall Portfolio
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Annexure I
Overall Portfolio
Total Portfolio size ` 270.30 Lakhs (As on October 26, 2016)
Amount
Asset Allocation Instrument %
(In `)
Cash Saving Bank 2,000,000 7.40%
Debt Bonds, MF & PPF 10,025,165 37.09%
Equity ETF, Stocks & MF 14,005,311 51.81%
Alternate TATA CAP PREF 1,000,000 3.70%
Total 27,030,476 100.00%
Market Beta/
Sr. CMP/ Value Dividend Total
Your Overall Portfolio Units Cap/ Expense
No. NAV (`) per share Dividends
AUM Ratio
Stocks
1 Adani Ports and SEZ Ltd. 150 305.00 45,750 63,164 1.42 1.10 165
2 Adani Power Ltd. 1500 26.00 39,000 8,960 1.61 0.00 0
3 Allcargo Logistics Ltd. 400 183.55 73,420 4,627 1.03 2.00 800
4 Arvind Infrastructure Ltd. 80 94.30 7,544 244 0.86 0.00 0
5 Arvind Ltd. 800 404.50 323,600 10,451 1.29 2.40 1920
6 Axis Bank Ltd. 250 486.50 121,625 116,297 1.28 5.00 1250
7 Ballarpur Industries Ltd. 750 16.64 12,480 1,091 1.05 0.00 0
8 Bank Of Baroda 250 155.15 38,788 35,749 1.64 0.00 0
9 Coal India Ltd. 1000 319.40 319,400 201,745 0.67 27.40 27400
10 Engineers India Ltd. 237 269.75 63,931 9,089 1.44 4.00 948
11 Gateway Distriparks Ltd. 200 246.85 49,370 2,684 0.78 7.00 1400
12 GVK Power & Infra. Ltd. 10000 6.77 67,700 1,069 0.84 0.00 0
13 HDFC Bank Ltd. 50 1240.40 62,020 315,760 0.76 9.50 475
14 Himatsingka Seide Ltd. 500 273.95 136,975 2,697 1.55 2.50 1250
15 HDFC Ltd. 50 1335.95 66,798 211,612 1.06 17.00 850
16 ICICI Bank Ltd. 500 278.55 139,275 162,068 1.68 5.00 2500
ICICI Prudential Life
17 550 320.70 176,385 46,031 0.47 9.68 5325
Insurance Company Ltd.
IL&FS Transportation
18 784 113.35 88,866 3,729 0.94 2.00 1568
Networks Ltd.
19 Infosys Ltd. 50 1014.85 50,743 233,105 0.81 24.25 1213
20 IRB Infrastructure Developers 200 242.60 48,520 8,526 1.14 4.00 800
21 Jain Irrigation Systems Ltd. 400 104.05 41,620 4,788 1.28 0.50 200
22 Jaypee Infratech Ltd. 1062 8.97 9,526 1,246 0.84 0.00 0
23 Jindal Steel & Power Ltd. 1000 76.85 76,850 7,031 1.85 0.00 0
24 JSW Energy Ltd. 900 66.95 60,255 10,980 1.44 2.00 1800
25 KPIT Technologies Ltd. 500 144.15 72,075 2,847 0.79 2.20 1100
26 L&T Finance Holdings Ltd. 1000 104.50 104,500 18,339 0.90 0.80 800
27 Larsen & Toubro Ltd. 250 1482.70 370,675 138,237 1.43 18.25 4563
28 LIC Housing Finance Ltd. 100 586.00 58,600 29,573 1.34 5.50 550
29 MMTC Ltd. 500 46.55 23,275 4,655 1.05 0.30 150
30 National Aluminium Co. Ltd. 1000 50.50 50,500 13,015 1.06 2.00 2000
31 NCC Ltd. 800 92.00 73,600 5,115 1.58 0.60 480
32 NMDC Ltd. 1000 120.55 120,550 47,795 1.19 11.00 11000
33 Power Finance Corp. Ltd. 400 124.70 49,880 32,922 1.24 13.90 5560
34 Power Grid Corp. Of India Ltd. 2058 175.95 362,105 92,050 0.71 2.31 4754
35 PTC India Ltd. 400 74.15 29,660 2,195 1.17 2.50 1000
36 Punjab National Bank 250 144.00 36,000 30,643 1.60 0.00 0
37 RBL Bank Ltd. 130 352.65 45,845 13,041 0.99 1.50 195
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Market Beta/
Sr. CMP/ Value Dividend Total
Your Overall Portfolio Units Cap/ Expense
No. NAV (`) per share Dividends
AUM Ratio
38 Reliance Capital Ltd. 100 525.60 52,560 13,278 1.82 10.00 1000
39 Reliance Defence & Eng. Ltd. 800 60.00 48,000 4,417 1.17 0.00 0
40 Reliance Infrastructure Ltd. 100 556.10 55,610 14,625 1.63 8.50 850
41 Rural Electrification Corp. Ltd. 600 134.40 80,640 26,542 1.20 17.10 10260
42 State Bank Of India 500 259.05 129,525 201,095 1.66 2.60 1300
43 Sunil Hitech Engineers Ltd. 200 414.60 82,920 787 1.20 1.50 300
44 Titan Company Ltd. 200 374.80 74,960 33,274 0.83 2.20 440
45 Trident Ltd. 1000 59.25 59,250 3,019 1.50 0.90 900
46 VA Tech Wabag Ltd. 200 503.75 100,750 2,747 0.54 4.00 800
Welspun Investments and
47 20 75.00 1,500 27 0.69 0.00 0
Commercials Ltd.
Total 4,203,419 1.14 97,865
ETF
1 GS - CPSE ETF - Growth 18860 25.55 481,873 2,256 0.49 NA NA
Total 481,873
Equity MF Portfolio
1 Axis Equity Fund(G) 27955 20.28 571,400 2,125 2.09(Sep-16) NA NA
2 Axis Midcap Fund(D) 10862 21.18 231,252 1,310 2.17(Sep-16) NA NA
3 Axis Midcap Fund(G) 14222 27.19 389,541 1,310 2.17(Sep-16) NA NA
Birla SL Frontline Equity
4 23080 24.99 646,702 13,901 2.27(Sep-16) NA NA
Fund(D)
BNP Paribas Mid Cap
5 7329 28.65 210,144 697 2.54(Sep-16) NA NA
Fund(D)
BNP Paribas Mid Cap
6 12968 28.77 373,375 697 2.54(Sep-16) NA NA
Fund(G)
DSPBR Micro-Cap Fund(G)-
7 6922 55.79 385,500 3,806 1.78(Sep-16) NA NA
Direct Plan
Franklin India High Growth
8 20385 33.72 683,167 5,043 1.07(Sep-16) NA NA
Cos Fund(G)-Direct Plan
9 Franklin India Prima Fund(D) 3068 62.14 191,341 4,566 2.34(Sep-16) NA NA
10 HDFC Equity Fund(G) 1175 510.33 608,885 15,857 2.04(Sep-16) NA NA
HDFC Mid-Cap Opportunities
11 28771 30.66 889,513 13,022 2.11(Sep-16) NA NA
Fund(D)
ICICI Pru Focused BlueChip
12 34069 22.34 767,234 11,683 2.14(Sep-16) NA NA
Equity Fund(D)
ICICI Pru Focused BlueChip
13 11865 32.25 385,731 11,683 2.14(Sep-16) NA NA
Equity Fund(G)
ICICI Pru Value Discovery
14 24676 32.75 813,321 14,461 2.25(Sep-16) NA NA
Fund(D)
IDFC Premier Equity Fund-
15 23516 33.64 790,603 6,166 2(Sep-16) NA NA
Reg(D)
MOSt Focused Midcap 30
16 17166 23.85 411,725 1,287 2.42(Sep-16) NA NA
Fund-Reg(G)
17 Reliance Banking Fund(D) 5856 49.55 294,879 2,280 2.07(Sep-16) NA NA
18 Reliance Banking Fund(G) 643 201.80 131,862 2,280 2.07(Sep-16) NA NA
19 Reliance Pharma Fund(D) 5410 68.06 371,062 1,565 2.14(Sep-16) NA NA
20 Reliance Pharma Fund(G) 1051 145.42 154,021 1,565 2.14(Sep-16) NA NA
UTI Bluechip Flexicap
21 834.284 22.42 18,761 1,833 2.35(Sep-16) NA NA
Fund(D)
Total 9,320,019
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Market Beta/
Sr. CMP/ Value Dividend Total
Your Overall Portfolio Units Cap/ Expense
No. NAV (`) per share Dividends
AUM Ratio
Cash Portfolio
1 4% Saving Bank A/c NA NA 2,000,000 NA NA NA NA
Total 2,000,000
Debt Portfolio
7.50% IDFC LTD 12NV20
1 NA NA 20,000 NA NA NA NA
(Taxable@30.90%)
2 8.00% PPF NA NA 3,500,000 NA NA NA NA
8.76% HUDCO LTD Tax-free
3 NA NA 500,000 NA NA NA NA
25OT28
9.00% IDFC LTD. 30DC21
4 NA NA 20,000 NA NA NA NA
(Taxable@30.90%)
9.50% SBI 04NV25
5 NA NA 400,000 NA NA NA NA
(Taxable@30.90%)
9.95% SBI 16MR26
6 NA NA 800,000 NA NA NA NA
(Taxable@30.90%)
Franklin India Ultra Short
7 49892 10.08 502,792 6283.19 0.22(Sep-16) NA NA
Bond Fund(DD)-Direct Plan
HDFC CPO Fund-III-1207D-
8 20000 11.15 222,714 102.56 1.75(Mar-16) NA NA
Dec14(G)-Direct Plan
HDFC FMP-XXIV-1919D-
9 25000 14.01 350,318 132.07 0.2(May-16) NA NA
January 2013(1)(G)
HDFC FMP-XXXI-1116D-July
10 20000 12.29 245,606 133.15 0.11(May-16) NA NA
2014(1)(G)-Direct Plan
HDFC FMP-XXXI-747D-June
11 20000 12.26 245,072 117.44 0.01(May-16) NA NA
2014(1)(G)-Direct Plan
HDFC FMP-XXXII-1113D-Nov
12 20000 11.85 236,664 96.51 0.01(May-16) NA NA
2014(1)(G)-Direct Plan
HDFC FMP-XXXII-1134D-Sep
13 20000 12.24 244,666 175.78 0.56(May-16) NA NA
2014(1)-Reg(G)
HDFC FMP-XXXIII-1157D-Feb
14 50000 11.56 577,315 190.24 0.31(May-16) NA NA
2015(1)-Reg(G)
HDFC Medium Term
15 48559 10.45 507,242 6884.63 0.18(Sep-16) NA NA
Opportunities (QD)-Direct
ICICI Pru CPO Fund-VII-C-
16 20000 11.33 226,682 43.03 1.92(Sep-16) NA NA
1284D(G)
17 ICICI Pru FMP-74-780D-E(G) 20000 12.36 246,990 77.65 0.1(Sep-16) NA NA
18 ICICI Pru FMP-75-1100D-N(G) 20000 11.99 239,486 265.51 0.05(Sep-16) NA NA
ICICI Pru FMP-75-1246D-
19 20000 12.28 245,204 340.61 0.5(Sep-16) NA NA
U(G)-Direct Plan
Reliance Dual Adv FTF-VI-A-
20 20000 11.02 222,026 144.46 2(Mar-16) NA NA
1094D-(G)
Reliance FHF-XXVI-35-
21 20000 12.29 245,652 189.15 0.49(Sep-16) NA NA
1095D(G)
22 SBI DAF-VI-Reg(G) 20000 11.35 226,736 227.22 2.2(Mar-16) NA NA
Total 10,025,165
Alternate Portfolio
1 TATA CAP LTD PREF 21AP22 NA NA 1,000,000 NA NA NA NA
Total 1,000,000
Grand Total 27,030,476
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Other Observations
You have 11 volatile stocks in your direct equity portfolio with Beta above 1.50 to Sensex; your overall
portfolio beta to Sensex is at 1.14
You have 2 stocks in your direct equity portfolio with very low market capitalization of < ` 500 crores
You have 2 Equity MF schemes in your portfolio with very high expense ratio of > 2.50% p.a.
Total Dividend received by your Direct Equity portfolio for last financial year is ` 97,865
(Assuming you were holding all the stocks on the record date)
Note: The alerts are key risk that your portfolio carries while being evaluated with strategic investment portfolio
with long term horizon.
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Annexure II
Direct Equity Portfolio Detailed Analysis
Portfolio Brief:
The portfolio has 47 stocks with a total value of ~ ` 42.03 Lakhs
Portfolio
Portfolio Value
Market Capitalization No. of Stocks Composition
(In `)
(%)
Large Cap (> 5000 crs) 30 3,298,488 78.47
Mid Cap ( between 2000-5000
11 723,261 17.21
crs)
Small Cap (between 501- 2000
4 172,626 4.11
crs)
Micro Cap (< 500 crs) 2 9,044 0.22
Total 47 4,203,419 100.00%
We have classified the portfolio into Core & Tail stocks wherein stocks with an allocation of 1% or
more in the overall portfolio are termed as Core stocks & less than 1% as Tail Stocks.
Portfolio Alerts
Out of 37 core stocks in the direct equity portfolio, 27 are large cap stocks, 8 are mid cap
stocks and 2 are small cap stocks with an average holding of ~ ` 1.07 Lakhs or 2.55% per
stock
Out of 10 tail stocks in the direct equity portfolio, 3 are large cap stocks, 3 are mid cap
stocks, 2 are small cap stocks and 2 are micro cap stocks with an average holding of `
23,939 or 0.57% per stock
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Annexure III
Equity Mutual Fund Portfolio- Detailed Analysis
Portfolio Brief
The portfolio has 37 funds with total value of ~ ` 141.05 Lakhs
1. Portfolio Bifurcation:
Portfolio
Category No. of Schemes Portfolio Value (in `)
Composition (%)
Equity Funds 21 9,320,019 66.08%
Debt Funds 16 4,785,165 33.92%
Total 37 14,105,183 100.00%
Mean /
Sr. Fund Standard Sharpe Information
Scheme Name Fund Manager Average
No. Benchmark Deviation Ratio Ratio
Return
Reliance Banking Sanjay Parekh, Shrey
18 NIFTY BANK 19.63 22.07 0.62 0.31
Fund(G) Loonkar
S&P BSE Health
19 Reliance Pharma Fund(D) Sailesh Raj Bhan 21.04 13.87 1.08 0.60
Care
S&P BSE Health
20 Reliance Pharma Fund(G) Sailesh Raj Bhan 21.05 13.81 1.09 0.60
Care
UTI Bluechip Flexicap
21 Ajay Tyagi S&P BSE 200 14.19 15.33 0.53 0.10
Fund(D)
Portfolio Alert
~ 81% of Your Equity Mutual Fund portfolio is invested into Large Cap Stocks
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Annexure IV
Debt Mutual Fund Portfolio- Detailed Analysis
1. Debt Mutual Fund Portfolio
Average Mod
Sr. Fund Average
Scheme Name Fund Manager Exit Load/ Remarks Maturity Duration
No. Benchmark YTM (%)
(in years) (in years)
Franklin India
Sachin Padwal-
Ultra Short Bond Crisil Liquid
1 Desai, Pallab Nil 0.93 0.77 8.58
Fund(DD)-Direct Fund Index
Roy
Plan
HDFC CPO Fund-
Anil Bamboli,
III-1207D- Crisil MIP
2 Vinay R. NA 1.86 NA NA
Dec14(G)-Direct Blended Index
Kulkarni
Plan
HDFC FMP-XXIV- Shobhit Crisil Composite
3 1919D-January Mehrotra, Bond Fund Nil 1.94 NA NA
2013(1)(G) Rakesh Vyas Index
HDFC FMP-XXXI-
Shobhit Crisil Composite
1116D-July
4 Mehrotra, Bond Fund NA 1.28 NA NA
2014(1)(G)-Direct
Rakesh Vyas Index
Plan
HDFC FMP-XXXI-
Shobhit Crisil Short
747D-June
5 Mehrotra, Term Bond NA 0.19 NA NA
2014(1)(G)-Direct
Rakesh Vyas Fund Index
Plan
HDFC FMP-
Crisil Composite
XXXII-1113D- Anil Bamboli,
6 Bond Fund NA 1.59 NA NA
Nov 2014(1)(G)- Rakesh Vyas
Index
Direct Plan
HDFC FMP-
Crisil Composite
XXXII-1134D- Anil Bamboli,
7 Bond Fund NA 1.51 NA NA
Sep 2014(1)- Rakesh Vyas
Index
Reg(G)
HDFC FMP-
Shobhit Crisil Composite
XXXIII-1157D-
8 Mehrotra, Bond Fund NA 1.97 NA NA
Feb 2015(1)-
Rakesh Vyas Index
Reg(G)
HDFC Medium
Term Crisil Composite
Anupam Joshi,
9 Opportunities Bond Fund Nil 3.57 2.84 7.49
Rakesh Vyas
Fund(QD)-Direct Index
Plan
ICICI Pru CPO Vinay Sharma,
Crisil MIP
10 Fund-VII-C- Rahul NA 2.02 1.67 8.21
Blended Index
1284D(G) Goswami
Rahul Crisil Short
ICICI Pru FMP-
11 Goswami, Term Bond NA 0.15 0.14 8.42
74-780D-E(G)
Rohan Maru Fund Index
Rahul Crisil Short
ICICI Pru FMP-
12 Goswami, Term Bond NA 1.41 1.24 8.67
75-1100D-N(G)
Rohan Maru Fund Index
ICICI Pru FMP- Crisil Short
Rahul
13 75-1246D-U(G)- Term Bond NA 1.31 1.16 9.37
Bhuskute
Direct Plan Fund Index
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Average Mod
Sr. Fund Average
Scheme Name Fund Manager Exit Load/ Remarks Maturity Duration
No. Benchmark YTM (%)
(in years) (in years)
Reliance Dual Omprakash
Crisil MIP
14 Adv FTF-VI-A- Kuckian, Anju NA 1.22 NA NA
Blended Index
1094D-(G) Chhajer
Reliance FHF- Crisil Short
15 XXVI-35- Amit Tripathi Term Bond NA 1.26 NA NA
1095D(G) Fund Index
Rajeev
SBI DAF-VI- Crisil MIP
16 Radhakrishnan, NA 1.58 NA NA
Reg(G) Blended Index
Ruchit Mehta
Portfolio Modified Duration 1.61 1.43 8.35
Portfolio Alert
Your Debt Mutual Fund Portfolios weighted average modified duration is ~ 1 year,
indicating low sensitivity towards interest rate movements
Portfolio Alert
~ 62% of Your Debt Mutual Fund portfolio is invested into AAA & Equivalent Bonds
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Glossary
General Assumption: While analyzing entire portfolio; we have excluded the stock/mf which does not have full 5
year history. All interest income instruments if any is assumed post tax at highest tax slab rate for the above
calculation. Debt & Cash growth rate has been assumed at 6% & 4% (post tax) respectively, wherever applicable.
Debt funds with growth option have been assumed post taxes. Dividend Income is not considered for stock returns
& adjusted NAV are taken for mutual fund with dividend option. Gold ETFs have been assumed post taxes. BSE
closing stock prices are taken for calculating daily rolling return .Past performance may or may not sustain in the
future.
Mean Variance Analysis: These are stimulated portfolios of your direct equity portfolio (PMS Excluded) (sample)
that have SD in the range of the portfolio and better expected returns. It also considers Future looking House View
on Stocks, wherein available. Last 10 years data is considered for this analysis
This is the constraint efficient frontier model wherein we have capped individual large cap stocks at 7.5% (10% if
total no. of stocks less than 15), Midcap stocks at 5%, small cap stocks at 2% and microcap stocks at 1%. Also,
individual sector allocations are cap at Nifty allocation + 7.50% or 25% whichever is lower. The quantity of shares
shown under Portfolio Action (no. of shares) is based on the prices on the day of analysis and restructuring may
change as price changes
Point to Point Return: measures the return of the portfolio between two specific dates.
Average return: means the average of Last 5 year daily rolling return. In simple words, it is an average of ~1250
trading days.
Standard deviation: A measure of variability from the mean (average) of the select data. A low standard deviation
indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the
data points are spread out over a large range of values.
Sharpe Ratio: is (Portfolio return- Risk free rate)/SD; Risk free is assumed to be 6% (post tax). Higher the Sharpe
higher the funds excess return per unit of risk.
Information Ratio: The information ratio (IR) measures a portfolio manager's ability to generate excess returns
relative to a benchmark and also attempts to identify the consistency of the manager. A high ratio means a manager
can achieve higher returns more consistently than one with a low ratio by taking on additional risk.
Nifty TRI: Total Returns Index reflects the returns on the index arising from
(a) Constituent stock price movements and
(b) dividend receipts from constituent index stocks
Maximum Drawdown: Maximum Drawdown (MDD) is the maximum fall from the previous Peak that the portfolio
has experienced during the period under consideration. The lower the Max DD, lower the risk
Absolute Return Contribution: It is the return contribution of individual securities calculated as the weight of the
security multiplied by its average return
Relative Return Contribution: It is percentage return contribution of individual securities to the portfolio return
Absolute Risk Contribution: It is the risk contribution of the individual securities calculated as the weight of the
security multiplied by its marginal risk contribution
Relative Risk Contribution: It is percentage risk contribution of individual securities to the portfolio risk
Marginal Risk Contribution: It measures how much additional risk would be added to the portfolio if an additional
1% were to be invested in a specific stock
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