MUTUAL FUNDS

What is Mutual Fund?

A Mutual Fund is a body corporate that
pools the savings of a number of
investors and invests the same in a
variety of different financial
instruments or securities.
Working of Mutual Fund.
INFRASTRUCTURAL MUTUAL
FUNDS.
TATA INFRASTRUCTURE
FUND.
Aims to provide income distribution and medium
to long term capital gains by investing
predominantly in equity or equity related
instruments of the companies in the
infrastructure sector.

Current Stats & Profile

Latest NAV 33.8467 (01/04/10)

52-Week High 34.2355 (14/01/10)

52-Week Low 18.9986 (02/04/09)

Fund Category Equity: Diversified

Type Open End

Launch Date December 2004

Risk Grade Average

Return Grade Above Average

Net Assets (Cr) 2,276.58 (31/03/10)

Benchmark Sensex
Analysis.
Ithas managed to beat the annual category
average every year with its best performance in
2006 when it got ranked second in its category
with a return of 60.32 per cent (category
average: 54.20%).
From June 2008, this fund also took a substantial
exposure to derivatives.
The fund has done well in the recent past with
recovery in the Industrials and Capital Goods
space.

Canara Robeco Infrastructure
fund

The scheme aims to invest in equities and equity
related instruments of companies in the
infrastructure sector.

Analysis.
Canara Robeco Infrastructure fund may be small,
but it packs quite a punch.
Don't overlook this fund simply because of its
tiny size - Rs 115.47 crore (May 31, 2009).
With a 3-year annualised return of 15.36 per
cent (as on May 31, 2009), the fund is the
third-best performer in its category of 13 and
has outshone the category average by 4.33 per
cent.
Right now the fund is betting heavily on Energy
with a 30 per cent allocation (category average:
17.77%) and Telecom at 16 per cent (category
average: 3.68%).
EQUITY DIVERSIFIED FUND
Birla Sun Life Frontline Equity
Fund
Aims to provide long term growth of
 capital, income generation and distribution of
dividend.
ANALYSIS
In the market downturn in 2008, it fell less than
the category average in all the quarters.
In the first quarter of 2009 also, it succeeded in
curtailing its losses to 1.17 per cent while the
category shed (-) 2.95 per cent.
A well diversified portfolio tilted towards large-
cap stocks with decent long-term returns
makes the fund a stable offering.

HDFC Top 200 Fund

To generate long term capital appreciation by

investing in a portfolio of equities and equity
linked instruments drawn from the BSE 200
Index.

Analysis
Solidlong-term record and skilled management.
The fund’s success in standing upright in a bear
market such as 2008, without resorting to debt
or high cash levels, is a testimony to the
manager’s skill.
Well-diversified, large-cap oriented portfolio that
contains the downside risk.

BALANCE FUND
Franklin Templeton India Balanced
Fund
Aims to provide long term growth of
 capital and current income by investing in
 equity and equity related securities
What is Balance fund
Analysis
Fund's annualised returns over the past five years
of 12 % better than category return.

Stocks have prime holding funds.

Fund looks fairly diversified.
SBI Magnum Balanced Fund
Toprovide investors long term capital
 appreciation along with the liquidity of an
 open-ended scheme by investing in a mix of
 debt and equity.
Trailing Returns

As on 31 Mar 2010 Fund Category

Year to Date 1.53 2.40

1-Month 5.28 5.14

3-Month 1.53 2.40

1-Year 68.67 62.65

3-Year 12.72 11.22

5-Year 21.03 17.15

Return Since Launch 18.38 --

Returns upto 1 year are absolute and over 1 year are annualised.
Analysis
Funds 5-year annualised return of 26 %.


A broad portfolio that has averaged at 47 stocks.

EQUITY LINKED SAVINGS
SCHEMES
 An ELSS is like any other equity fund. Here the
lock-in period is three years.

 It comes with all the usual trappings of an equity
fund, including the choice between dividend and
growth options, and systematic investment
plans (SIP).

 Under the IT Act, investors investing in an ELSS
can claim benefits under Section 80C. The limit
under this Section is Rs 1 lakh. The dividends
earned in an ELSS are tax-free. The returns at
maturity are also tax-free.
CANARA ROBECO EQUITY TAX
SAVER

Aims to provide long term capital appreciation
by predominantly investing in equities.
ANALYSIS
Solid long-term record and skilled management.

The fund has outperformed its category average
returns consistently.

The fund downside risk is limited.



SBI MAGNUM TAX GAIN
Aims to deliver the benefits of investing in a
portfolio of equity shares, while offering tax
rebate on such investments made in objective
the scheme under section 88
ANAYSIS
 The fund manager tends to tilt towards growth
stocks, but sticks largely to a buy-and-hold
strategy without overlooking opportunistic bets.

 In the recent rally the fund has managed to beat its
category, although by a small margin. Its timely
shift to equity and presence in metals, financial
and engineering sectors helped it gain 68 per cent.

 Its conservative tilt may appeal to investors looking
for a tax saving avenue in turbulent market
conditions.

MIDCAP MUTUAL FUND
BIRLA SUNLIFE MIDCAP
PLAN
The scheme aims at long-term growth of capital
at controlled level of risk by investing
primarily in mid-cap stocks, to generate returns
higher than a fund focused on large and liquid
stocks.

ANALYSIS
The portfolio is churned quite frequently with
nearly 40 per cent of the stocks making an
appearance for less than six months.
Nevertheless, this fund can't be called
aggressive.
During market rallies, this fund does make its
mark.
SAHARA MID-CAP FUND
The scheme aims to invest in mid cap stocks.

The mid cap stocks are defined as those stocks
whose market cap does not exceed the least
market cap stock in S&P CNX Nifty Junior
Index or of the highest market cap stock in
S&P CNX Mid-Cap 200 Index, whichever is
higher and is not below that of least market cap
stock in S&P CNX Mid-Cap 200 Index.

ANALYSIS
 Sahara Mid-Cap Fund has the ability to fight back
downturns.

 Hiking the equity allocation this year (79% in February
to 99% in June) led the fund to deliver an admirable
121 per cent in the latest rally (March 9 - July 31,
2009) against the category average of 104 per cent.

 If one looks at the price movement of sugar, steel, auto
and auto ancillary stocks, over the last few months,
they have delivered the highest. And Sahara Mid-Cap
Fund rode all of them, including most recently,
cement.
THANK YOU 