The document provides information on ERIC's diversified trend-following investment program. It summarizes the program's strategy, asset class exposure, and backtested and live performance over several years. The program utilizes a mathematical algorithm to generate trading signals across various uncorrelated asset classes, including commodities, equities, currencies and more. Backtested results show annual returns ranging from 11-53% over 7 years, outperforming other common Indian investments. Live trading since 2013 has yielded a net annual return of 41.7% for the first year.

1. ERIC - CLIENT
PRESENTATION
(ENNOVATE RESEARCH, INVESTMENTS AND
CAPITAL)
Presented By
SAMEER GUNJAL
Sept - 2014
CONFIDENTIAL DOCUMENT 1

2. People should be more concerned with the return of their principal than the return on their principal.
ERIC – DIVERSIFIED PROGRAM
ERIC’s Diversified Trend-Following Program is systematic and technical.
The Program utilizes a mathematical algorithm to analyze technical data in order to
generate trading signals.
These signals are applied to a diversified portfolio comprising of commodities, equity &
currency in a predominantly quantitative or mechanical fashion.
-- Will Rogers
Our program does not necessarily expect profitability over the short-term but is, instead,
geared to generate competitive returns over the long-run.
Long periods of break even or equity declines are to be expected.
A strict money management discipline is in place, the design of which is intended to
maximize return while diminishing volatility.
CONFIDENTIAL DOCUMENT 2

3. Don’t put all your eggs in one basket, or put your eggs in one basket and watch the basket.
INVESTMENT
ASSET
CLASSES
Investments will be
1.Equity
2.Metals
3.Energy
4. Agri-Commodities
5.Currencies
Investment philosophy is to be
invested in uncorrelated asset classes,
identify trends and exploit them using
positional trades.
Risk exposure is adjusted based on
Asset class volatility. This helps limit
the downside in each trade.
EQUITY
INDICES
-- Anonymous
NIFTY
BANKNIFTY
19% Max
Exposure
METALS
GOLD
SILVER
COPPER
NICKEL
ZINC
31% Max
Exposure
ENERGY
CRUDE OIL
NATURAL GAS
19% Max
Exposure
AGRI
COMMODI
-TIES
CHANNA
COTTON
MUSTARD
SOYBEAN
17% Max
Exposure
CURRENCI
ES
USD-INR
GBP-INR
14% Max
Exposure
CONFIDENTIAL DOCUMENT 3

4. Chance favors the informed mind.
-- Louis Pasteur
LIVE TRADING PERFORMANCE -
1ST JULY 2013 ONWARDS
 Annual pre tax return for first year of operations is 41.7%. (29.2% post tax
return)
4
Date
Beginning
Balance
Gross
Performance
ERIC Fee
ERIC
Incentive
ERIC
Advisory
Charges
Net Pre Tax
Performance
Tax -
Investor
Net Post Tax
Performance
Ending
Balance -
Post Tax
Return %
VAMI -
Pre Tax
VAMI -
Post Tax
2% 30% 30% 1,000 1,000
1-Jul-13 2,500,000 1,000 1,000
31-Jul-13 2,500,000 246,980 4,167 67,844 72,011 174,969 52,491 122,478 2,622,478 4.9% 1,070 1,049
31-Aug-13 2,622,478 1,023,778 4,371 300,577 304,948 718,830 215,649 503,181 3,125,659 19.2% 1,363 1,250
30-Sep-13 3,125,659 (293,938) 5,209 (95,995) (90,786) (203,152) (60,946) (142,206) 2,983,453 -4.5% 1,275 1,193
31-Oct-13 2,983,453 (88,713) 4,972 (34,073) (29,100) (59,613) (17,884) (41,729) 2,941,724 -1.4% 1,249 1,177
30-Nov-13 2,941,724 (494,620) 4,903 (155,740) (150,837) (343,783) (103,135) (240,648) 2,701,076 -8.2% 1,103 1,080
31-Dec-13 2,701,076 (146,639) 4,502 (50,744) (46,243) (100,397) (30,119) (70,278) 2,630,799 -2.6% 1,062 1,052
31-Jan-14 2,630,799 67,617 4,385 13,708 18,093 49,524 14,857 34,667 2,665,466 1.3% 1,082 1,066
28-Feb-14 2,665,466 6,462 4,442 (4,725) (283) 6,744 2,023 4,721 2,670,187 0.2% 1,085 1,068
31-Mar-14 2,670,187 233,460 4,450 63,362 67,813 165,647 49,694 115,953 2,786,139 4.3% 1,152 1,114
30-Apr-14 2,786,139 (61,342) 4,644 (25,368) (20,724) (40,618) (12,185) (28,432) 2,757,707 -1.0% 1,135 1,103
31-May-14 2,757,707 785,304 4,596 228,697 233,293 552,011 165,603 386,408 3,144,115 14.0% 1,363 1,258
30-Jun-14 3,144,115 173,649 5,240 44,234 49,475 124,174 37,252 86,922 3,231,037 2.8% 1,417 1,292
1,292
Annual Return (CAGR%) 41.7% 29.2%
CONFIDENTIAL DOCUMENT

5. “What we learn from history is that people don’t learn from history.”
-- Anonymous
NOTES TO PERFORMANCE TABLE
A summary of the significant accounting policies which have been
followed in preparing the accompanying performance table is set
forth below:
1. Beginning Balance equals the ending equity from the previous
month, if applicable, and includes the sum of all cash, accrued
interest income, accrued brokerage commissions and
miscellaneous expenses and the current market value of all open
commodity positions.
2. Additions are the amounts, other than through sources of
income, added at the start of the period. Withdrawals are the
amounts, other than through sources of expense, withdrawn at
the start of the period.
3. Gross Performance is the sum of Net Realized Profit (Loss),
Change in Unrealized Profit (Loss) and Interest income.
4. ERIC Fees is the amount of annual fee earned by Ennovate
Solutions during the month. As per the agreement it is 2% of the
funds under management, calculated on the beginning monthly
balance.
5. ERIC Incentive is 30% of the Gross Performance less 8% of AUM
for Hurdle Rate and 2% of AUM for ERIC Fees. The fee’s will follow
higher watermark.
6. ERIC Advisory charges is sum of ERIC Fees and ERIC Incentive.
7. Net Pre Tax Performance is Gross Performance less ERIC Advisory
Charges.
Investor.
10.Ending Balance equals the sum of Beginning Equity plus
Additions minus Withdrawals plus Net Post Tax Performance.
11.Monthly Post Tax Rate of Return is determined using the “Time-
Weighting” method. It is determined by dividing Net Performance
for a month by the weighted average of Beginning Equity plus
Additions less Withdrawals. The weighted average is computed
by dividing the sum of each respective daily Beginning Equity
plus Additions less Withdrawals balance, before reinvested
profits or losses occurring during the month, by the number of
days in the month. Monthly Rate of Return may not be an
accurate indicator of performance since it assumes that Net
Performance is realized on a pro-rata basis over the daily
weighted average of Beginning Equity plus Additions less
Withdrawals during the month.
12.VAMI (Value Added Monthly Index) Pre Tax is included for
informational purposes only and represents the estimated
compounded monthly value of each hypothetical Rs.1,000
investment assumed to have been made as of the beginning of
the period presented. Index is calculated as 1 plus the Monthly
Pre Tax Rate of Return times the prior month’s Index. Index may
not be an accurate indicator of performance since it assumes a
continuous investment with no subsequent additions,
withdrawals or distributions of accumulated profits.
13.VAMI Post Tax is included for informational purposes only and
represents the estimated compounded monthly value of each
hypothetical Rs.1,000 investment assumed to have been made as
of the beginning of the period presented. Index is calculated as 1
plus the Monthly Post Tax Rate of Return times the prior month’s
CONFIDENTIAL DOCUMENT 5

6. In the next ten to twenty years, the changes we are going to see in terms of new centers of wealth will be mind-boggling. Only investors who understand this will be
able to capitalize on the changes.
BACK TESTED PERFORMANCE
– 7 YEARS
Notes:
Performance presentation shows a Rs.10,00,000 account managed for the past 7 years,
(2014 are year to date returns)
Deviation of actual returns could be to an extent of +/- 10% of the back tested
performance
-- Marc Faber
6
Year
Beginning
Balance
Gross
Performance
ERIC Fee
ERIC
Incentive
ERIC
Advisory
Charges
Net Pre Tax
Performance
Tax -
Investor
Net Post Tax
Performance
Ending
Balance
Return %
VAAI
(Post Tax)
2% 34% 30% 1,000
2008 1,000,000 848,769 22,472 251,562 274,034 574,735 172,421 402,315 1,402,315 40.2% 1,402
2009 1,402,315 611,770 31,513 157,778 189,290 422,479 126,744 295,735 1,698,050 21.1% 1,698
2010 1,698,050 375,032 38,159 67,763 105,922 269,111 80,733 188,377 1,886,428 11.1% 1,886
2011 1,886,428 2,133,063 42,392 653,853 696,245 1,436,818 431,045 1,005,773 2,892,200 53.3% 2,892
2012 2,892,200 990,553 64,994 233,995 298,989 691,564 207,469 484,095 3,376,295 16.7% 3,376
2013 3,376,295 1,544,715 75,872 404,071 479,943 1,064,772 319,432 745,340 4,121,635 22.1% 4,122
2014 4,121,635 979,404 92,621 187,771 280,392 699,011 209,703 489,308 4,610,943 11.9% 4,611
CAGR % 26.5%
CONFIDENTIAL DOCUMENT

7. Confronted with the challenge to distil the secret of sound investment into three words, we venture the motto, Margin of Safety.
PERFORMAN
CE
PRESENTATIO
N
Chart: A
Chart: B
Chart: C
Chart: A Shows the monthly Index
value of 1,000 over the past 7 years
Chart: B Shows annual post tax returns
for the last 7 years
Chart: C Shows capital drawdown in
the past 7 years. Drawdown shows the
lowest point of the capital from the
peak performance. Maximum
drawdown of 29% was witnessed in
Dec 2010.
Disclaimer: Past performance should
be considered indicative.
-- Benjamin Graham
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
7
5,000
4,000
3,000
2,000
1,000
-
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
40.2%
21.1%
11.1%
53.3%
16.7%
22.1%
11.9%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2008 2009 2010 2011 2012 2013 2014
(25,000)
(100,000)
(175,000)
(250,000)
(325,000)
CONFIDENTIAL DOCUMENT

8. COMPARABLE
ASSET CLASS
PERFORMAN
CE
It's not that I am so smart, it's just that I stay with problems longer.
Table: A
Table: B
Following figures show the
performance of these asset classes for
the last 7 years
Figure: A shows the asset prices for
the past 7 years
Typical investment vehicles in the
country include Gold, Silver, Equity,
Mutual Fund, Real Estate, Currency and
Fixed Deposits
Figure: B considers an investment of
Rs.1,000 done at the start of 2008 in
these assets, along with the back
tested performance of ERIC Diversified
Program
8
Year INR USD
Gold
(10 Grams)
Silver
(1 kg)
FD Nifty HDFC NAV
All India
Real Estate
Jan-08 39.42 11,951 21,219 1,000 6,144 170.2 100.0
Dec-08 48.69 15,117 19,339 1,080 2,959 92.8 DNA
Dec-09 46.51 18,001 27,698 1,166 5,201 180.5 DNA
Dec-10 44.68 22,405 48,720 1,260 6,135 225.7 DNA
Dec-11 53.23 29,407 52,226 1,360 4,624 170.8 173.4
Dec-12 54.79 32,389 58,691 1,469 5,905 226.2 188.3
Dec-13 61.73 26,208 42,326 1,587 6,304 235.4 194.8
Jun-14 60.10 28,151 44,657 1,650 7,611 313.9 198.5
Year INR USD
Gold (10
Grams)
Silver (1
kg)
FD Nifty HDFC NAV
All India
Real Estate
ERIC
VAAI
Jan-08 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Dec-08 1,235 1,265 911 1,080 482 545 1,000 1,402
Dec-09 1,180 1,506 1,305 1,166 846 1,060 1,000 1,698
Dec-10 1,133 1,875 2,296 1,260 998 1,326 1,000 1,886
Dec-11 1,350 2,461 2,461 1,360 753 1,003 1,734 2,892
Dec-12 1,390 2,710 2,766 1,469 961 1,329 1,883 3,376
Dec-13 1,566 2,193 1,995 1,587 1,026 1,383 1,948 4,122
Jun-14 1,525 2,355 2,105 1,650 1,239 1,844 1,985 4,618
CONFIDENTIAL DOCUMENT
-- Albert Einstein

9. There is only one side of the market and it is not the bull side or the bear side, but the right side.
COMPARABLE
ASSET CLASS
RETURNS
Chart: A
Chart: B
Chart: A represents the growth of
Rs.1,000 invested in the respective
asset classes over 7 years from 2008
to 2014
Chart: B shows the Compounded
Annual Growth Rate (CAGR%) of the
respective asset classes over 7 years
9
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
-
INR USD Gold
(10 gms)
Silver
(1 kg)
FD Nifty HDFC
NAV
All India
Real
Estate
ERIC VAAI
6.7%
14.1%
12.1%
8.0%
3.3%
9.9%
11.1%
26.5%
INR USD Gold
(10 gms)
Silver
(1 kg)
FD Nifty HDFC
NAV
All India
Real
Estate
ERIC VAAI
CONFIDENTIAL DOCUMENT
-- Jesse Livermore

10. The word "crisis" in Chinese is composed of two characters: the first, the symbol of danger; the second, opportunity.
INVESTOR IN-HAND
PERFORMANCE
Notes:
Fees and Performance Incentive have been calculated post service tax of 12.36%
Marginal Tax rate for the investor is assumed to be 30%
Gross Performance is net of all trading charges such as brokerage, Exchange charges, STT and Stamp
Duty.
14
Scenario -
Gross
Returns
Begin
Invst
Gross
Perf.
Hurdle
Rate
Annual
Fees
Gross
Profit
Performance
Incentive
Net Perf. Tax
Net Post
Tax
End
Invst
Returns
%
8% 2.2% 33.7% 30%
-10% 100 -10 0 2 -12 0 -12 0 -12 88 -12%
0% 100 0 0 2 -2 0 -2 0 -2 98 -2%
25% 100 25 8 2 15 5 18 5 12 112 12%
50% 100 50 8 2 40 13 34 10 24 124 24%
75% 100 75 8 2 65 22 51 15 36 136 36%
100% 100 100 8 2 90 30 67 20 47 147 47%
CONFIDENTIAL DOCUMENT
-- Anonymous

11. “The person that turns over the most rocks wins the game. And that’s always been my philosophy.”
INVESTMENT CRITERIA &
PHILOSOPHY
--Peter Lynch
Minimum account size needed is Rs.10,00,000 with additional Rs.2,50,000
committed capital which may be called anytime in the first 4 months from the date of
investment
Investment horizon should be minimum 2 years
Maximum risk taken would be 40% of the committed capital i.e. Rs.5,00,000 (If base
capital reduces by Rs. 5,00,000 then account trading will be suspended and
remaining amount will be returned back to investor)
Post Tax Net Return targeted is 25%
Hurdle rate of return will be 8% of AUM
Fees will be 2% of AUM
Performance Incentive will be charged as 30% of profit, post hurdle rate and Fees
Incentive and Fees will be withdrawn every quarter calculated on the quarterly
performance
CONFIDENTIAL DOCUMENT 11

12. It is difficult to get a man to understand something when his salary depends upon his not understanding it.
OPERATIONA
L DETAILS
Broker account will be opened with R K
Global Shares & Securities & R K Global
Commodities Limited
Broker account will be operated on
advice given by ERIC
Investor Bank
Account
CONFIDENTIAL DOCUMENT 12
Funds to Investor’s Broker
Account
Trades ordered as per ERIC
Diversified Trend Program
Required funds withdrawn
from Broker A/C
ERIC Advisory
Services
-- Upton Sinclair

13. MANAGEMENT TEAM
Sameer Gunjal
Sameer has a varied experience of 8 years in
capital markets.He is the managing partner of
Ennovate Solutions, which advises clients on
fund management
He is a corporate trainer and visiting faculty with
several premier Business Schools and Training
institutions like Dun & Bradstreet & IMS
Proschool
Prior he has worked with Creditpointe Services as
Sector Lead, and with CRISIL Irevna Research for
a team of 4 Analysts from a premier Investment
bank, to do equity research aligned to the US
Business Services sector and Canadian Metals &
Mining sector.
Sameer has done his MBA from NITIE, Mumbai
and Mechanical Engineering from VJTI, Mumbai.
He has cleared all 3 levels of the CFA, USA
Program.
Hrushikesh Kale
As a lead Trader with ERIC, Vinit has a diverse
experience in trading Internationl (primarily US )
and Indian Capital Markets for past 8 years.
Prior he has managed trading accounts for
clients with Religare Securities. And Indiabulls
Securities in Indian Stock Market.
Vinit has done his MBA from Wellingkar, Mumbai
and Computer Science Enrineering from Pune
Yogesh Thakur
Yogesh takes care of Strategy and Operations at
ERIC.
He has an experience of 6 years in financial
modeling and derivatives strategy development.
Yogesh has developed valuation models for
companies in Indian Services, Infrastructure,
Sugar and Transport sectors.
Yogesh is a Computer Science Graduate and as a
Masters of Business Admiinistration (MBA) form
ICFAI Business School, Pune.
CONFIDENTIAL DOCUMENT 13
Vinit Desai
Hrushikesh has 3 years of experience in equity
research. He was also a full time faculty in
Management and now he is visiting faculty.
Hrushikesh has done his MBA from SIMCA ,
Pune and Mechanical Engineering from GCOE.
Amravati. He has cleared 2 levels of CFA, USA
Program.
Never invest in any idea you can't illustrate with a crayon.
-- Peter Lynch

14. The power of accurate observation is frequently called cynicism by those who don't have it.
-- George Bernard Shaw
DISCLAIMER
This presentation has been prepared solely for informational purposes and may not be relied on in any
manner as legal, tax or investment advice or as an offer to sell or the solicitation of an offer to buy an
interest in any fund.
This presentation should be considered confidential as it contains important information about the
fund’s risks, fees and expenses and may not be reproduced in whole or in part, and may not be
circulated or redelivered to any person without the prior written consent of Ennovate Solutions.
Certain information contained herein constitutes “forward-looking statements”, which can be
identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”,
“anticipate”, “project”, “estimate”, “intend”, “continue” or “believe” or the negatives thereof or other
variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or
results or the actual performance of any fund may differ materially from those reflected or
contemplated in such forward-looking statements. Past performance is not a guide to or otherwise
indicative of future results .
Except where otherwise indicated herein, the information provided herein is based on matters as they
exist as of the date of preparation and not as of any future date, and will not be updated or otherwise
revised to reflect information that subsequently becomes available, or circumstances existing or
changes occurring after the date here of.
None of the information contained herein shall constitute, or be construed as constituting or be
deemed to constitute “investment advice”.
The investments in Systematic products/strategy rely on various economic factors and are subject to
market risks and forces affecting the capital markets. The value of the portfolio under
products/strategy can go up or down depending on the various factors that affect the capital market.
CONFIDENTIAL DOCUMENT 14

15. Grow with us
THANK YOU

16. Office No. 1, Gunjal Complex, Off. J M Road, Deccan Gymkhana, Pulachiwadi, Pune – 411004
email: ennovate.research@gmail.com , Mob.: 9860270324 CONFIDENTIAL DOCUMENT