The document provides a performance update of recommended mutual funds for the first half of 2011. It summarizes that equity markets performed negatively in the first half, with most indices showing declines of over 5%. It then analyzes the performance of specific mutual fund categories, noting that debt funds outperformed equity funds. Large cap, mid cap, and small cap equity funds saw some of the largest declines. The document concludes by reviewing the performance and investment strategies of two recommended large cap equity funds, HDFC Top 200 Fund and Franklin India Bluechip Fund, during this period.

1. Recommended Funds- Performance Update
Prepared by: iFAST Research Team

2. Dear Investors
On the day of releasing our performance on Recommended Funds, there has been a bloodbath on Dalal Street with
Sensex and Nifty loosing ~371 points and 112 points respectively. Global uncertainties and domestic worries have
created a panic on the street as a result of which investors are rushing to sell their investments. At this juncture we
would advise all our investors to maintain calm and instead of following the herd, stay invested in their existing
portfolios. They can even think of entering markets either through the SIP route or via lump sum investments
whenever there is a dip. Investors are often shocked and cannot believe that we actually want them to enter the
markets during such volatility. Our reply to all of them is that the India growth story is intact and the volatility is only
short-term. We believe it is always better to enter the markets whenever there is downtrend rather than park money
when market is at its peak.
Our recommended funds were first introduced in June 2009 and underwent a review four times, the last being in
December 2010. Since Jan 2011, we have decided to review our recommended funds on a yearly basis, however, we
will keep a track of the same every six months. It is in this scenario that we have decided to release a report
showcasing how our recommended funds have performed in the first half of 2011.
We hope that you find this information useful and would appreciate your feedback on the same.
Happy Investing!
India Research Desk

3. Market Update

4. Equity
In the first half of 2011 i.e. from January 2011 to June 2011, the equity markets performance has been negative. Only two
sectoral indices i.e. FMCG and Consumer Durables represented by BSE FMCG Index and BSE Consumer Durables Index have
given positive returns. All the broad indices have given negative returns exceeding 5%. BSE SENSEX and NIFTY have given -8.11%
and -7.94% returns. Real estate companies have lost the most during the first half. The BSE Real Estate index has lost close to
30% in the first six months of the year. Indices on Midcap, Small Cap, IT, Power, Auto, Metal and Real estate have given double
digit negative returns in the first half of 2011.
Domestic Indices (Returns) Sectoral Indices (Returns)
0.00% 12.00%
8.00%
BSE Small Cap
S&P CNX Nifty
BSE Sensex
BSE Midcap
-2.00%
4.00%
-4.00%
0.00%
-6.00% -4.00%
BSE Health Care
BSE TECk
BSE Power
BSE PSU
BSE AUTO
BSE IT
BSE Realty
BSE Capital Goods
BSE FMCG
BSE BANKEX
BSE METAL
BSE OIL & GAS
BSE Consumer Durables
-8.00% -8.00%
-10.00% -12.00%
-16.00%
-12.00%
-20.00%
-14.00% -24.00%
-16.00% -28.00%
-32.00%
-18.00%
The negative returns are influenced both by domestic and global factors. From a domestic perspective, the rate hikes by RB I has
forced the banks to increase their lending rates, this has negatively affected the demand for products from real estate and auto
sector. A decline in the auto sector and real estate also leads to a lower demand for metal products and thus, the metal sector is
also negatively impacted. From a global perspective, the uncertainty of solvency of many European countries and even an
impending ratings downgrade for the US has led to the negative performance not only in India but also in many emerging
countries.
As, RBI has communicated that the rate hikes will continue until there is some level of moderation in inflation, the outlook for
second half looks bleak as the banks will be forced to increase the lending rates. This can lead to lower level of economic
activity; even the Prime Minister’s Economic Advisory Council (PMEAC) has lowered the GDP growth rate of 2011-12 from 8.5%
to 8.2%. This in turn, can lead to some correction in the equity markets.
However, for investors who have a long time horizon, this would be the suitable period to enter into the equity market as we
expect the market to give good returns in the future.

5. Debt
10 Year Gsec Curve
8.6
8.5
8.4
8.3
8.2
8.1
8
7.9
7.8
7.7
7.6 31-Dec-10
14-Jan-11
28-Jan-11
11-Mar-11
25-Mar-11
6-May-11
20-May-11
8-Apr-11
22-Apr-11
3-Jun-11
17-Jun-11
25-Feb-11
11-Feb-11 Yields
In the first half of 2011 i.e. from January 2011 to June 2011, the yields in the debt markets performance were on a rising trend.
The 10 year benchmark yield has increased from 7.92% on 31 December 2010 to 8.33% on 30 June 2011, thanks to the RBI’s rate
hike in every quarter and mid quarter policy meets in the first half. Even the liquidity condition in the system has been in the
negative mode. However, the liquidity situation has improved slightly in the first half of 2011.
With the inflation still over 9%, the RBI has reiterated that it will continue hiking rates until there is some sort of moderation in
the level of inflation. So for much part of H2 of 2011, we can expect rate hikes.
In this scenario, we advise:
Investors with a time horizon anywhere from 3 months to 24 months can lock-in their money in FMPs (available with
varying maturities) at the prevailing high rates
Investors with idle cash in the savings account should look at Ultra-Short Term Funds. The Recommended Funds in this
category include DWS Ultra Short Term Fund and Birla Sun-life Ultra short term Fund. The investment horizon that we
suggest for such instruments is 1 month-3 months
Investors with a time horizon between 6 - 12 months should consider Short-Term Funds. The Recommended Funds in
this category include Reliance Short Term Fund and Templeton India Short Term Fund

6. Mutual Funds Update

7. MF Industry Trends
Top Five AMCs - By Absolute Change in Assets (Dec 2010- June 2011)
Absolute Change in Assets
(INR in Crores) % Change in Assets
ICICI Prudential Mutual Fund 13980.31 21.22%
IDFC Mutual Fund 10427.52 57.45%
Birla Sun Life Mutual Fund 9780.71 16.94%
Kotak Mahindra Mutual Fund 6524.98 23.61%
SBI Mutual Fund 6376.60 15.37%
Bottom Five AMCs - By Absolute Change in Assets (Dec 2010- June 2011)
Absolute Change in Assets
(INR in Crores) % Change in Assets
PRINCIPAL Mutual Fund -330.80 -5.74%
JM Financial Mutual Fund -604.55 -9.37%
JPMorgan Mutual Fund -1471.38 -28.32%
Franklin Templeton Mutual Fund -4434.71 -10.82%
LIC NOMURA Mutual Fund -9356.39 -50.05%
The assets managed by the industry from January 2011 to June 2011 rose by about Rs. 69,411 crores from Rs. 6,78,067 crore in
the September 2010 to December 2010 quarter, to Rs. 7,47,479 crores in April 2011 to June 2011 quarter. The industry assets
rose in the April - June 2011 quarter by 10.24% with respect to September - December 2010 quarter.
ICICI Prudential Mutual Fund, IDFC Mutual Fund, Birla Sunlife Mutual Fund were the fund houses which saw their assets increase
the most in Rupee terms. AMCs that started operations recently saw their assets increase by huge percentages; Daiwa Mutual
fund’s assets increased by 391% in the first half of 2011, followed by IDBI Mutual Fund and Peerless Mutual fund at 150% and
113% respectively.
LIC Nomura Mutual fund, Franklin Templeton Mutual Fund and JPMorgan Mutual fund were the fund houses which saw large
decreases in their assets in Rupee terms. LIC Nomura Mutual fund saw its assets decrease by over 50%, while Bharti AXA Mutual
fund and JPMorgan Mutual Fund saw its assets decrease by over 47% and 28% respectively.

8. Category Returns
Equity: Large Cap -7.64%
Equity: Multi Cap -7.55%
Equity: Mid Cap -8.43%
Equity: ELSS -7.49%
Equity: Index -7.71%
Equity: Global -3.39%
Hybrid: Balanced -2.71%
Hybrid: MIP 1.71%
Debt: Income 3.38%
Debt: Gilt Short Term 2.59%
Debt: Gilt Long Term 2.29%
Debt: Floating Rate 4.15%
Debt: Ultra Short Term 4.25%
Debt: Short Term 4.39%
Liquid 3.92%
During the first half of 2011, due to the negative performance of the equity market locally and globally; domestic and overseas
equity funds as a category have given negative returns. Midcap and small cap funds have lost the most in H1, followed by Index,
Large cap and Multicap funds. Overseas funds have given negative returns with the negative performance being much lower in
comparison to the Indian equity funds.
Balanced funds have also given negative performance due to the negative performance of the equity market. However, the
quantum of negative performance is low due to the higher debt component in the balanced funds as compared to equity funds.
Funds which have higher allocation to debt have given positive returns, including MIPs, which have over 70% allocation to debt.
Short term funds, followed by Ultra Short term funds have given the highest returns in the first half of 2011. The cause for the
better performance by the Short term and the Ultra Short term funds was the lack of liquidity in the system which has led to
higher rates for Certificate of Deposits and Commercial Papers.

9. Our Recommended Funds

10. Recommended Large Cap Equity Funds

11. Fund Name: HDFC Top 200 Fund Investment Strategy: This fund invests into companies
Performance of HDFC Top 200 Fund along with BSE 200 primarily from the BSE 200 index. Banking, Information
300
Technology, Pharma, Refineries and Tobacco are the
Category: Equity- Large Cap 250 most important sectors of this fund. These five sectors,
Investment Objective: To generate on an average, account for over 57% of the portfolio
long term capital appreciation from a 200
investments. Banking is the single largest sector that this
portfolio of equity and equity-linked fund invests in. In the past 6 months, investments in
150
instruments primarily drawn from the banking sector have never fallen below 22% of the
companies in the BSE 200 Index. 100 portfolio and accounted for 23.12% of the portfolio in
June 2011. The fund manager has lowered the allocation
Inception Date: October 11, 1996 50 to the public sector banks from 14.1% in January 2011 to
12.3% in June 2011, while the private sector banks’
Fund Manager Name: Prashant Jain & 0
allocation has been increased from 9.6% to 10.8% during
Miten Lathia
31-Dec-08
31-Oct-09
31-Jan-11
30-Nov-06
31-May-09
30-Jun-06
31-Mar-10
31-Aug-10
30-Jun-11
30-Sep-07
29-Feb-08
31-Jul-08
30-Apr-07
the same period. The fund on an average has had 3.7% in
cash in the past six months. The fund has a small
AUM (as at June 2011): INR 11064.99 exposure to rights instruments at an average of 2.5% of
(in crores) the portfolio, while the rest is invested into equities.
HDFC Top 200 Fund BSE 200
Investment Amount:
Minimum Investment: Rs 5000
Minimum SIP Investment:
Monthly: Rs 500 Performance as on 30-June-2011
Quarterly: Rs 1500 Absolute (%) CAGR (%)
1 month 3 month 6 month 1 year 3 year 5 year SINCE INCEPTION
Load: Entry: NIL
Exit: 1% on or before 1 year, Nil After HDFC Top 200 Fund 1.36 -1.41 -5.97 9.03 22.50 19.83 22.87
1 year
BSE-200 0.56 -2.69 -8.65 2.96 12.08 12.73 13.61
Asset Allocation- Dec 2010 Asset Allocation- June 2011
Cash, 2.68% Cash, 3.68%
Cash Cash
Equity, 97.32% Equity Equity, 94.08% Equity
Top 5 Sectors Top 5 Companies
Industry Dec’ 2010 (%) Industry June’ 2011 (%) Company Name Dec 2010 (%) Company Name June 2011 (%)
Banks 22.42 Banks 21.23 State Bank Of India 7.10 State Bank Of 6.86
IT - Software 9.99 IT - Software 10.76 India
Pharmaceuticals & Infosys Ltd. 6.06 ICICI Bank Ltd. 6.43
Refineries 7.85 Drugs 7.90 ICICI Bank Ltd. 5.52 Infosys Ltd. 5.88
Pharmaceuticals Reliance Industries 4.47 ITC Ltd. 4.56
& Drugs 7.75 Refineries 7.61 Ltd.
Engineering - Larsen & Toubro 4.13 Reliance 4.13
Construction 5.91 Cigarettes/Tobacco 4.56 Ltd. Industries Ltd.

12. Investment Strategy: This fund invests in large cap
Fund Name: Franklin India Performance of Franklin India Bluechip Fund
Bluechip Fund stocks which can be either growth or value oriented.
250 along with BSE Sensex For the past six months, Banking, Information
Category: Equity- Large Cap
Technology, Telecommunications, Power and
Investment Objective: An open-
200 Refineries are the key sectors for this fund. These six
end growth scheme with an
objective primarily to provide sectors have accounted for more than 62% of the
medium to long-term capital portfolio assets for the past 6 months. The allocation
150
appreciation. to the public sector banks has decreased from 6.2%
Inception Date: December 01, in January 2011 to 4.3% in June 2011 while the
100 allocation to the private sector banks has increased
1993
Fund Manager Name: Anand from 12.5% to 14.5% during the same period.
50
Radhakrishnan & Anand
Vasudevan The fund manager has become conservative in his
AUM (as at June 2011): INR 0 investment approach. The fund manager has
increased the allocation to cash from 2.6% in
30-Jun-08
30-Jun-06
31-Oct-06
30-Jun-07
31-Oct-07
31-Oct-08
30-Jun-09
31-Oct-09
30-Jun-10
31-Oct-10
30-Jun-11
28-Feb-07
29-Feb-08
28-Feb-09
28-Feb-10
28-Feb-11
4020.06 (in crores)
Investment Amount: January 2011 to 9.7% in June 2011. This increase in
Minimum Investment: Rs 5000 the cash allocation was due to the decrease in the
Minimum SIP Investment: equity allocation of the portfolio.
Franklin India Bluechip Fund BSE Sensex
Monthly: Minimum of 12
cheques each of Rs. 500/- or
more or a minimum of 6 cheques Performance as on 30-June-2011
each of Rs. 1000/- or more.
Absolute (%) CAGR (%)
Quarterly: Minimum of 12
SINCE
cheques each of Rs. 500/- or
1 month 3 month 6 month 1 year 3 year 5 year INCEPTION
more or a minimum of 6 cheques
Franklin India Bluechip
each of Rs. 1000/- or more.
Fund 1.27 -1.15 -5.14 10.26 20.03 16.62 25.18
Load: Entry: NIL
Exit: 1% on or before 1Y BSE SENSEX 1.85 -3.08 -8.11 6.47 11.87 12.17 10.43
Asset Allocation- Dec 2010 Asset Allocation- June 2011
Cash, 6.31% Cash, 9.71%
Debt, 0.03%
Cash
Cash
Equity, 93.69%
Equity, 90.27% Debt
Equity
Equity
Top 5 Sectors Top 5 Companies
Industry Dec’ 2010 (%) Industry June’ 2011 Company Name Dec 2010 (%) Company Name June 2011 (%)
(%)
Banks 17.91 Banks 18.80 Bharti Airtel Ltd. 7.94 Infosys Ltd. 8.50
IT - Software 9.64 IT - Software 11.15 Infosys Ltd. 7.34 Bharti Airtel Ltd. 8.36
Telecommunication - Reliance
Refineries 8.52 Service Provider 10.14 Industries Ltd. 6.15 ICICI Bank Ltd. 6.66
Power Reliance
Electric Equipment 8.38 Generation/Distribution 6.94 ICICI Bank Ltd. 5.23 Industries Ltd. 4.24
Telecommunication Kotak Mahindra Kotak Mahindra
- Service Provider 8.36 Refineries 5.50 Bank Ltd. 4.01 Bank Ltd. 3.40

13. Fund Name: ICICI Prudential Investment Strategy: The fund's strategy is to invest
Performance of ICICI Prudential Focused Blue Chip Equity
Focused Bluechip Equity Fund Fund along with S&P CNX Nifty in around 20 large cap stocks. Banking, Information
200
Technology, Oil exploration, Tobacco and power are
Category: Equity- Large Cap 180 the key sectors for this fund. These five sectors
Investment Objective To seek to 160 account for over 68% of the portfolio investments
generate long-term capital
appreciation and income 140 over the past six months. The allocation to banking
distribution to unit holders from a 120 sector has dropped from 23.8% in January 2011 to
portfolio that is invested in equity 21% in June 2011, and on the same note the
100
and equity related securities of allocation to the top 5 sectors has dropped from
about 20 companies belonging to 80
74.2% to 38.3% during the same period.
the large cap domain and the 60
balance in debt securities and
40 Unlike HDFC Top 200 fund which hardly used
money market instruments.
Inception Date: May 23, 2008 20 derivatives, this fund has used derivatives every
0 month in the past six months. For the past six
Fund Manager Name: Prashant months, derivatives have accounted for an average
23-Aug-08
23-Aug-09
23-Aug-10
23-Nov-08
23-Nov-09
23-Nov-10
23-Feb-09
23-Feb-10
23-Feb-11
23-May-08
23-May-09
23-May-10
23-May-11
Kothari & Rajat Chandak 8.4% of the portfolio, cash allocation has accounted
AUM (as at June 2011): INR for 3.6% and the remaining into equities on an
2545.23 (in crores) ICICI Prudential Focused Blue Chip Equity Fund average allocation of 87.8%
S&P CNX Nifty
Investment Amount:
Minimum Investment: Rs 5000
Minimum SIP Investment: Performance as on 30-June-2011
Monthly: Rs 1000 Absolute (%) CAGR (%)
Quarterly: Rs 5000 SINCE
1 month 3 month 6 month 1 year 3 year 5 year INCEPTION
Load: Entry: NIL
ICICI Prudential Focused
Exit: 1% on or before 1Y, NIL after
Blue Chip Equity Fund 2.14 -1.42 -3.97 13.47 22.52 17.92
1Y
S&P CNX Nifty 1.57 -3.19 -7.94 6.30 11.81 12.53 4.36
Asset Allocation- Dec 2010 Asset Allocation- June 2011
Cash, 3.97% Cash, 4.18%
Cash Cash
Equity, 91.96% Equity, 85.34%
Equity Equity
Top 5 Sectors Top 5 Companies
Industry Dec’ Industry June’ Company Name Dec 2010 Company Name June 2011
2010 (%) 2011 (%) (%) (%)
Banks 25.22 Banks 23.26 Tata Consultancy Services
IT - Software 14.12 IT - Software 11.67 Ltd. 7.34 ITC Ltd. 6.60
Punjab National Bank 6.97 Bajaj Auto Ltd 6.17
Automobiles-Tractors 6.32 Oil Exploration 8.08 Mahindra & Mahindra Ltd. 6.32 Axis Bank Ltd. 6.04
Refineries 6.14 Cigarettes/Tobacco 6.60 Reliance Industries Ltd. 6.14 Hindustan Zinc Ltd. 4.71
Automobile Two & Power Punjab National
Three Wheelers 6.06 Generation/Distribution 6.34 Bajaj Auto Ltd 6.06 Bank 4.71

14. Recommended Multi Cap Equity Funds

15. Fund Name: HDFC Equity Investment Strategy: The fund invests mainly in growth
Performance of HDFC Equity Fund along with S&P CNX 500
Fund 300 oriented stocks. In the past six months, large cap stocks on
an average account for 81% of the portfolio, midcap stocks
Category: Equity- Multi Cap 250 account for 9% of the portfolio, small cap stocks account
for about 4% of the portfolio and cash holdings account for
Investment Objective: To 200 3.1% of the portfolio.
achieve capital
appreciation. 150
Banking, Information Technology, Pharmaceuticals,
Inception Date: January 01, Refineries and Mining are the important sectors for this
100
1995 portfolio. These five sectors on an average account for 52%
50 of the portfolio in the past six months. Banking is the
Fund Manager Name:
largest sector and allocation to banking has never fallen
Prashant Jain & Miten
0 below 22% in the past six months. The allocation to the
Lathia 31-Oct-06 public sector banks has decreased slightly from 14.5% in
31-Oct-07
31-Oct-08
31-Oct-09
31-Oct-10
30-Jun-06
30-Jun-07
30-Jun-08
30-Jun-09
30-Jun-10
30-Jun-11
28-Feb-07
29-Feb-08
28-Feb-09
28-Feb-10
28-Feb-11
AUM (as at June 2011): INR January 2011 to 13.9% in June while the allocation to the
9738.90 (in crores) private sector banks has increased from 8% to 9% in the
same period. Over all, the allocation to the banking sector
Investment Amount: HDFC Equity Fund S&P CNX 500 has increased by 0.4% in the past six months to 22.95%
Minimum Investment: Rs
5000
Minimum SIP Investment: Performance as on 30-June-2011
Monthly: Rs 500 Absolute (%) CAGR (%)
Quarterly: Rs 1500 SINCE
Load: Entry: NIL 1 month 3 month 6 month 1 year 3 year 5 year INCEPTION
Exit: 1% on or before HDFC Equity Fund 0.76 -0.73 -5.79 11.02 25.24 19.82 22.40
1Y,Nil-After 1Y
S&P CNX 500 0.67 -2.24 -8.46 2.31 12.19 12.03 NA
Asset Allocation- Dec 2010 Asset Allocation- June 2011
Cash, 4.70% Cash, 2.30%
Cash Cash
Equity, 95.30% Equity Equity, 94.94% Equity
Top 5 Sectors Top 5 Companies
Industry Dec’ 2010 (%) Industry June’ 2011 Company Name Dec 2010 (%) Company Name June 2011 (%)
(%)
Banks 21.15 Banks 22.95 State Bank Of
State Bank Of India 7.75 India 8.41
IT - Software 8.35 IT - Software 8.61
Pharmaceuticals & Pharmaceuticals ICICI Bank Ltd. 5.89 ICICI Bank Ltd. 6.99
Drugs 8.30 & Drugs 7.56 Tata Consultancy
Engineering - Infosys Ltd. 4.64 Services Ltd. 4.62
Construction 5.05 Refineries 7.05 Titan Industries
Mining & Ltd. 4.45 Infosys Ltd. 3.99
Oil Exploration 4.65 Minerals 3.57 Bank Of Baroda 4.16 Bank Of Baroda 3.61

16. Fund Name: Fidelity Equity Investment Strategy: The fund invests in 60 to 80
Performance of Fidelity Equity Fund along with BSE 200 stocks across market capitalisation. In the past five
Fund 300
months i.e. from January 2011 to May 2011, large cap
Category: Equity- Multi Cap stocks on an average account for 79.4% of the
250
Investment Objective: To portfolio, midcap stocks account for 9.2% of the
generate long-term capital portfolio, small cap stocks account for 3.4% of the
200
growth from a diversified portfolio and cash holdings account for 7.9% of the
portfolio of predominantly portfolio.
150
equity and equity-related
securities. Banking, Information Technology, Refineries,
100
Pharmaceuticals and Cigarettes are the important
sectors for this portfolio. These five sectors has
Inception Date: May 16, 2005 50
accounted for 62.7% of the portfolio in May 2011. The
allocation to the top 5 sectors has increased from 52%
0
Fund Manager Name: in January to 62.7% in June 2011. Like most funds, the
31-Oct-10
31-Oct-06
31-Oct-07
31-Oct-08
31-Oct-09
30-Jun-08
30-Jun-06
30-Jun-07
30-Jun-09
30-Jun-10
28-Feb-11
30-Jun-11
28-Feb-07
29-Feb-08
28-Feb-09
28-Feb-10
Sandeep Kothari & Anirudh allocation to the private sector banks has gone up
Gopalakrishnan while the allocation to the public sector has gone down
by about 2%.
AUM (as at May 2011): INR Fidelity Equity Fund BSE 200
3368.19 (in crores)
Investment Amount:
Performance as on 30-June-2011
Minimum Investment: Rs 5000
Minimum SIP Investment: Absolute (%) CAGR (%)
Monthly: Rs 500 1 month 3 month 6 month 1 year 3 year 5 year SINCE INCEPTION
Load: Entry: NIL Fidelity Equity Fund 0.96 -1.94 -5.94 7.50 19.49 18.77 23.09
Exit: 1% on or before 1Y, Nil BSE-200 0.56 -2.69 -8.65 2.96 12.08 12.73 17.44
after 1Y
Asset Allocation- Dec 2010 Asset Allocation- May 2011
Cash, 4.55% Cash, 9.15%
Debt, 0.04%
Cash
Cash
Equity, Equity, 90.82% Debt
95.45% Equity
Equity
Top 5 Sectors Top 5 Companies
Industry Dec’ 2010 Industry May’ 2011 Company Name Dec 2010 (%) Company Name May 2011 (%)
(%) (%)
Banks 17.47 Banks 17.34 Reliance Reliance
Industries Ltd. 7.32 Industries Ltd. 6.96
IT - Software 9.48 IT - Software 8.38
Infosys Ltd. 5.43 ICICI Bank Ltd. 5.33
Refineries 7.32 Refineries 7.56 ITC Ltd. 4.35 ITC Ltd. 4.70
Pharmaceuticals & Pharmaceuticals & HDFC Bank Ltd. 4.33 HDFC Bank Ltd. 4.41
Drugs 7.03 Drugs 6.33 Tata Consultancy
Cigarettes/Tobacco 4.35 Cigarettes/Tobacco 4.70 Services Ltd. 3.70 Infosys Ltd. 4.31

17. Fund Name: UTI Opportunities Fund Investment Strategy: UTI Opportunities fund
Performance of UTI Opportunities Fund along with BSE 100 invests in sectors that are expected to do well
300
Category: Equity- Multi Cap in the future while moving out of sectors
Investment Objective: This scheme 250 which look overvalued. In the past six months,
seeks to generate capital large cap stocks on an average account for
appreciation and/or income
200 86.6% of the portfolio, midcap stocks account
distribution by investing the funds of
the scheme in equity shares and for 3% of the portfolio, small cap stocks
150 account for 1% of the portfolio and cash
equity-related instruments. The main
focus of this scheme is to capitalize holdings account for 7.5% of the portfolio.
100
on opportunities arising in the market
by responding to the dynamically Banking, Cement & Construction, Cigarettes,
changing Indian economy by moving 50
Information technology and consumer foods
its investments amongst different
0 are the important sectors for this portfolio.
sectors as prevailing trends change.
These five sectors on an average account for
30-Jun-06
30-Jun-07
30-Jun-08
30-Jun-09
30-Jun-10
30-Jun-11
31-Oct-10
31-Oct-06
31-Oct-07
31-Oct-08
31-Oct-09
28-Feb-07
29-Feb-08
28-Feb-09
28-Feb-10
28-Feb-11
Inception Date: July 20, 2005
54.6% of the portfolio over the past six
Fund Manager Name: Anoop
months and for 36% of the portfolio in June
Bhaskar
UTI Opportunities Fund BSE 100 2011.
AUM (as at June 2011): INR 1575.52
(in crores)
Investment Amount: Performance as on 30-June-2011
Minimum Investment: Rs 5000
Minimum SIP Investment: Absolute (%) CAGR (%)
Monthly: Rs 500 SINCE
Quarterly: Rs 1500 1 month 3 month 6 month 1 year 3 year 5 year INCEPTION
Load: Entry: NIL
Exit: 1% before 1Y,Nil on or after 1Y UTI Opportunities Fund 0.66 0.29 -4.77 11.85 21.18 17.17 18.45
BSE-100 0.85 -2.89 -8.16 3.83 11.73 12.74 16.53
Asset Allocation- Dec 2010 Asset Allocation- June 2011
Cash, 3.26% Cash, 6.24%
Cash Cash
Equity, Equity,
94.82% Equity 91.95% Equity
Top 5 Sectors Top 5 Companies
Industry Dec’ 2010 (%) Industry June’ 2011 Company Name Dec 2010 Company Name June 2011
(%) (%) (%)
Cement & ITC Ltd. 6.79 ITC Ltd. 7.92
Automobiles- Construction Tata Motors Ltd. 6.46 Petronet LNG Ltd. 5.05
Trucks/Lcv 9.11 Materials 8.89 Petronet LNG Ltd. 4.63 Titan Industries Ltd. 4.91
Banks 8.62 Cigarettes/Tobacco 7.92 Housing
IT - Software 8.14 Banks 7.81 Development
Cement & Finance
Construction Corporation Ltd. 4.50 Cairn India Ltd. 4.67
Materials 7.62 IT - Software 6.21 Tata Consultancy
Cigarettes/Tobacco 6.79 Consumer Food 5.55 GAIL (India) Ltd. 4.43 Services Ltd. 4.40

18. Recommended Midcap and Small Cap Equity Funds