Do you have a Religare in your portfolio? - niveshsansar.com · Do you have a Religare in your...

Do you have a Religare in your portfolio?

Equity FundsOctober 2012

As on 31st October, 2012

2

Religare PSU Equity Fund (NSE Symbol - RELIGAREPS)

Fund Managers Vetri Subramaniam & Amit Ganatra

Asset Allocation

Scheme Info Date of Inception 18th November, 2009Type of Scheme Open-ended

Nature Equity

Entry Load* Nil

Exit Load# If redeemed/switched-out on or before 1 year from the date of allotment: 1%, otherwise: Nil

Transaction Charges For details please refer slide no. 36

Fund Positioning� The Fund invests in Government companies having presence in

��

� Companies where the Central/State Government having majority shareholding or where the management control or power to appoint ��

�� !"�� #� ��

�� $�� %'(� �� shareholder

Portfolio Construction Guidelines)�� *�

�� +�� -� �� deliver superior growth in the long term

�� .��45(�� )+6�!+7��8�)��95(��!+7��BSE PSU Index

�� *��

�� !�� %5�:�9'��*�

Who Can Invest?�� *��-� �� -� ��

sector giants

�� *��-� �� -� �� -� �� ;��*��-��!��+��6��

�� *��-��

Equity Holdings

Cash & Cash Equivalent1.90%

98.10%

AAUM for the quarter ending September 2012

` 89.01 crores

Please refer slide no. 36 for *, # and disclaimer


3


Scheme PerformanceFund Managers : Mr. Vetri Subramaniam & Mr. Amit Ganatra

Scheme / Benchmark

NAV as on 28/09/2012 (`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Religare PSU Equity Fund 9.90 -0.20% -18.62% NA

BSE PSU Index - 0.16% -27.98% NA

S&P CNX NIFTY - 15.38% -18.02% NA

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: November 18, 2009. Since inception returns are not given as scheme has not completed 3 years.Please refer to slide no.33 & 34 for fund performance of other schemes managed by Mr. Vetri Subramaniam & Mr. Amit Ganatra.

Fund Review & OutlookThe Government i�� -� �� *�� 8� "�� -�� *� �� !�� *��8�<��$�� -�� -�� company per se as it might lead to unproductive capex leading to excess capacity ��8�+�� -��*��-8�=�� -�� *��-� �� !�� -�� 8� +� �� !��*��-��-��*�8�<��timeline and quantum are not clear, this step as and when implemented would be �� 8�� -�� 8�<�� -� �� -� �� 8�.�� prices, increasing FDI in various sectors, capping subsidy on LPG etc. are positive. ��*��?��+6)��-�� 6�� -�� @��-8� !�� *�� H�� -�� !+7� ��*�J� �� ?�� -�� -�� -� �� -�� @��-� �� *�8� +�� !+7� ��*�� -� �� -� �� -�� -� �� ?�� -��@��8

Risk RatiosScheme ^ )�� *�$

+��M��H ��J 5.29% 6.25%Sharpe ratio -0.28 -0.31Beta 0.82 1.00Q@+?�� 0.93 1.00

^Past performance may or may not be sustained in future. Figure based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of Growth option. Source: RMF $ BSE PSU Index


4


Portfolio Concentration (%)

��5��-�� 43.83%

Top 10 holdings 66.47%

��Z5��-�� 80.41%

��8��*�� 27

Sector Allocation$

��5�� 81.98%

Top 10 sectors 98.10%

��8�� 10

Portfolio Holdings (% of net assets)

% Allocation in previous months

Top 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12

Oil & Natural Gas Corp. Ltd. 10.20 10.62 10.82 11.78 11.26 10.58

��[ ��\�� )�*�]�8 9.00 7.25 6.74 4.61 4.78 4.75!��#��]�8 8.94 9.47 9.73 9.18 8.41 7.30+��)�*�� 8.78 9.32 8.56 8.85 9.15 9.21NTPC Ltd. 6.91 6.66 6.91 6.11 5.96 9.75Gujarat Mineral Development Corporation Ltd. 5.57 4.94 6.16 5.72 5.49 5.14Bharat Petroleum Corporation Ltd. 5.53 5.42 5.40 5.55 6.82 6.29Coal India Ltd. 4.51 4.43 5.49 5.32 4.93 2.83#��)�* 3.55 3.53 3.23 3.38 3.33 3.50�.�]�H��J�]�8 3.48 3.61 2.97 2.81 2.68 2.59

Top 5 Sectors / Respective Stock^

Banks 30.49%��[ ��`�\�� )�*�]�8 9.00%

Power 18.49%!��#��]�8 8.94%

Oil 12.48%Oil & Natural Gas Corporation Ltd. 10.20%

Petroleum Products 10.45%Bharat Petroleum Corporation Ltd. 5.53%

Minerals/Mining 10.08%Gujarat Mineral Development Corporation Ltd.

5.57%

$ As recommended by AMFI

^(% of Net Assets)

September-12 October-12

0% 5% 10% 15% 20% 25% 30% 35%

Banks

Power

Oil

Petroleum Products

Minerals/Mining

Gas

Industrial Capital Goods

Transportation

Ferrous Metals

Fertilisers

M�� f

Portfolio Shifts (% of net assets)

New Entry Oct-12 Complete Exit

No new entry - No exit -

% Allocation in previous month


5

Religare Tax Plan (NSE Symbol - RELIGARETP)

Fund Managers Vetri Subramaniam & Vinay Paharia

Asset Allocation

Scheme Info Date of Inception 29th December, 2006

Type of Scheme Open-ended

Nature Equity Linked Savings Scheme with a lock-in period of 3 years

Entry Load* Nil

Exit Load# Nil


Fund Positioning.��@��6?��]��*��+��-��+�� H6]++J��*@��9��*��-��-�� -�� ?��?��8

Portfolio Construction Guidelines�� *�� z��-� ��

approach

��

�� Q�� *� �� -� ��

�� !��%'@5'��*�

Who Can Invest?�� *��-� �� -� ��

�� *��-� �� +�� {'#� �� .��Z|4Z8

Equity Holdings5.05%94.95%

Cash & Cash Equivalent



` 120.36 crores


4


Fund Review & Outlook�� -�� -� �� -�� 8� �� -�� *�� -�� -��-� �� 8� �� }}(� �� ]�-�� #�� ~�� #��8� M��-� �� !��8��-��Healthcare and Consumer Discretionary sectors and is underweight in Materials and Financials sectors.


+��M��H ��J 4.77% 5.99%Sharpe ratio -0.13 -0.15Beta 0.77 1.00Q@+?�� 0.93 1.00

^Past performance may or may not be sustained in future. Figure based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of Growth option. Source: RMF $ BSE100

Scheme PerformanceFund Managers : Mr. Vetri Subramaniam & Mr. Vinay Paharia

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception(CAGR) Current

Value of `10,000

Religare Tax Plan 18.53 11.43% -11.73% 34.09% 11.31% 18,530

BSE 100 - 14.13% -18.95% 19.00% 6.12% 14,078

S&P CNX NIFTY - 15.38% -18.02% 18.61% 6.51% 14,379

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: December 29, 2006. Please refer slide no.33 & 34 for fund performance of other schemes managed by Mr. Vetri Subramaniam & Mr. Vinay Paharia.

Current value of ` 10,000 in Religare Tax Plan

Past performance may or may not be sustained in future. The above calculation is based on NAV since inception.

18530

14078

4000

6000

8000

10000

12000

14000

16000

18000

20000

Dec

-06

Apr

-07

Jul-0

7

Nov

-07

Feb-

08

Jun-

08

Sep

-08

Jan-

09

Apr

-09

Jul-0

9

Nov

-09

Feb-

10

Jun-

10

Sep

-10

Jan-

11

Apr

-11

Aug

-11

Nov

-11

Mar

-12

Jun-

12

Sep

-12

Religare Tax Plan - Growth BSE100


7


��5��-�� 27.27%


��Z5��-�� 55.70%

��8��*�� 49

Sector Allocation$

��5�� 49.97%


��8�� 27

Portfolio Holdings (% of net assets)% Allocation in previous months

Top 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12

ITC Ltd. 6.49 6.26 6.49 6.37 6.37 5.94

=M�#�)�*�]�8 5.77 5.73 5.72 5.75 5.50 5.19

Housing Development Finance Corp. Ltd. 5.66 5.76 5.76 6.13 5.78 5.04

Reliance Industries Ltd. 5.12 5.33 5.14 5.08 5.03 5.06

Oil & Natural Gas Corp. Ltd. 4.23 4.43 4.58 4.84 4.81 4.49

~��+�z�*��]�8 3.74 3.51 3.14 3.17 3.26 3.22

��]�8 3.46 3.71 3.65 3.50 4.92 5.01

Lupin Ltd. 3.00 3.16 3.32 3.42 3.05 3.24

��;��)�*�]�8 2.85 2.51 2.39 2.53 2.28 2.16

+��)�*�� 2.85 3.03 2.62 3.18 3.41 1.02


Banks 16.90%=M�#�)�*�]�8 5.77%

Consumer Non Durables 10.91%ITC Ltd. 6.49%

Finance 8.13%Housing Development Finance Corp. Ltd.

5.66%

Software 8.08%��]�8 3.46%

Petroleum Products 5.95%Reliance Industries Ltd. 5.12%


$ As recommended by AMFI.

^ ( % of Net Assets )



No new entry - Tata Power Co. Ltd. 0.63



0% 5% 10% 15% 20%Banks

Consumer Non DurablesFinance

SoftwarePetroleum Products

PharmaceuticalsOil

AutoTelecom - Services

Industrial ProductsPower

CementConstruction Project

Healthcare ServicesTransportation

Media & EntertainmentIndustrial Capital Goods

Diversified Consumer ServicesTrading

Consumer DurablesChemicals

Leisure FacilitiesMinerals/Mining

PesticidesGas

HotelsEngineering Services

M�� f


{

Religare Business Leaders Fund (NSE Symbol - RELIGAREBL)

Fund Manager Vetri Subramaniam

Asset Allocation

Scheme Info Date of Inception 21st August, 2009Type of Scheme Open-ended

Nature Equity

Entry Load* Nil



Fund Positioning�� #��-

�� .��<��!�� *�� -�� investor

�� .� �� *��

Portfolio Construction GuidelinesInvestment Universe: Leaders across Industries

�� +��)��;��

�� !�� 9'@}'��*�

��

�� )�� *�� +`!� #�� +��*� �� 8� )�� *�

�� 9�� in each sector

�� M�� *@�� f� ��each individual company in the particular sector

�� -��-��

�� *��*�

Who Can Invest?�� *��-� �� f��-��

�� *��

�� *��-� �� demonstrated leadership qualities

Equity Holdings98.57%


1.43%


` 28.82 crores



9


Fund Review & Outlook��-��-��.�� -��*��8�+�� f�� *��-�� 8��*�� -�� $�� -�power. Such companies are well placed in the current environment where ��$�� -�� *��-�� 8�� *��8�


+��M��H ��J 5.20% 6.02%

Sharpe ratio -0.16 -0.13

Beta 0.86 1.00

Q@+?�� 0.98 1.00

^Past performance may or may not be sustained in future. Figure based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of the Growth option. Source: RMF $ S&P CNX Nifty

Scheme PerformanceFund Managers : Mr. Vetri Subramaniam

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception(CAGR) Current

Value of `10,000

Religare Business Leaders Fund

12.51 12.20% -15.98% 22.87% 7.47% 12,510

S&P CNX NIFTY - 15.38% -18.02% 18.61% 7.70% 12,593

BSE Sensex - 14.03% -18.01% 17.18% 6.91% 12,311

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: August 21, 2009. Please refer to slide no. 33 for fund performance of other schemes managed by Mr. Vetri Subramaniam .

1259312510

Current value of ` 10,000 in Religare Business Leaders Fund


Religare Business Leaders Fund - Growth S&P CNX Nifty

6900

7900

8900

9900

10900

11900

12900

13900

14900

Aug

-09

Oct

-09

Nov

-09

Jan-

10

Feb-

10

Apr

-10

May

-10

Jul-1

0

Aug

-10

Sep

-10

Nov

-10

Dec

-10

Feb-

11

Mar

-11

May

-11

Jun-

11

Aug

-11

Sep

-11

Nov

-11

Dec

-11

Feb-

12

Mar

-12

May

-12

Jun-

12

Aug

-12

Sep

-12


10


��5��-�� 42.44%


��Z5��-�� 79.88%

��8��*�� 29

Sector Allocation$

��5�� 58.47%


��8�� 18


% Allocation in previous monthsTop 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12=M�#�)�*�]�8 10.62 10.13 10.00 9.96 9.26 8.18Housing Development Finance Corp. Ltd. 9.18 8.97 8.88 9.36 8.57 --ITC Ltd. 9.12 8.74 8.95 8.71 9.52 9.41��]�8 6.83 5.77 5.61 5.34 7.28 7.47Reliance Industries Ltd. 6.69 6.68 6.38 5.24 6.45 6.54~��+�z�*��]�8 6.10 5.90 5.21 5.22 5.21 5.20Larsen & Toubro Ltd. 5.30 5.30 4.65 4.78 5.26 3.14Oil & Natural Gas Corp. Ltd. 4.33 4.89 5.01 5.24 3.73 3.51M�8�Q��]��]�8 4.23 3.81 4.05 3.94 3.89 4.77Tata Consultancy Services Ltd. 4.15 5.46 5.91 5.52 5.49 5.67


Banks 17.46%=M�#�)�*�]�8 10.62%

Consumer Non Durables 11.58%ITC Ltd. 9.12%

Software 10.98%��]�8 6.83%


9.18%




^(% of Net Assets)


0% 5% 10% 15% 20% 25%

Banks

Consumer Non Durables

Software

Finance

Petroleum Products

Auto

Construction Project

Power

Oil

Pharmaceuticals

Media & Entertainment

Cement

Ferrous Metals

Telecom - Services

Industrial Products

Healthcare Services

Transportation

Non - Ferrous Metals

M�� f



No new entry - No exit -



11

Religare Contra Fund (NSE Symbol - RELIGARECF)

Fund Manager Vetri Subramaniam & Amit Ganatra

Asset Allocation

Scheme Info Date of Inception 11th April, 2007Type of Scheme Open-ended

Nature Equity

Entry Load* Nil



Fund PositioningQ��-�� #�� -�� *� �� 8� #� �� *�� -� �� -� �f� �� 8��*��-�term. Companies with strong management, but operating in commodities, ��-�� -��8

Portfolio Construction Guidelines�� -��

��

�� )��-��*�� *�

�� *�� alternatives.

The fund does not sell just because the company has moved from the contra stage of its life cycle to the attractive stage of the life cycle

�� .��-��

�� +��+��"��"��-

�� M��#��

�� -��|'(

Who Can Invest?�� *��-� �� @��*��

��*�� *��-� ��

volatility�� *��-�� -��-@�� z��

��


4.13%



` 60.75 crores



12


Fund Review & OutlookWe intend to use all the three levers namely Sector Allocation, #��)��+��*�+��-�� 8�=��*�� turnaround phase and those trading below intrinsic value. In line with our ��-��H}58{(J�� companies in a turnaround phase and those trading below intrinsic value. ��Z485(�� 8� ��-�� 4%8}(� �� 8�.�� )��)��-��~��8�� due to improvement in their own dynamics or improvement in macro �� 8�.�� -�� -��585(�� 8� <�� -��-��-�� has reduced as compared to previous months. Also, latest quarterly ��-�� mixed characterised by sharp upgrades/downgrades bringing large ��-�� -�� 8� "�� *� ��*��-8� =�� about the growth expectations build into the valuations. We are open �� *��-� �� *� �� *�8� !�� economic turnaround led by recovery in investment demand.

Risk Ratios

Scheme^ Benchmark$

+��M��H ��J 5.32% 6.00%


Beta 0.87 1.00

Q@+?�� 0.96 1.00^Past performance may or may not be sustained in future. Figure based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of Growth option. Source: RMF $ BSE500

Current value of ` 10,000 in Religare Contra Fund

Scheme PerformanceFund Manager : Mr. Vetri Subramaniam & Mr. Amit Ganatra

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception

(CAGR) Current Value of

` 10,000

Religare Contra Fund 16.26 10.09% -14.23% 22.56% 9.29% 16,260

)+6�5'' - 12.85% -20.02% 21.85% 6.79% 14,330

S&P CNX NIFTY - 15.38% -18.02% 18.61% 7.38% 14,765

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: April 11, 2007. Please refer to slide no.33 & 34 for fund performance of other schemes managed by Mr. Vetri Subramaniam and Mr. Amit Ganatra.


1626014330

Religare Contra Fund - Growth BSE 500

5002500450065008500

105001250014500165001850020500

Apr

-07

Jun-

07A

ug-0

7O

ct-0

7D

ec-0

7Fe

b-08

Apr

-08

Jun-

08A

ug-0

8O

ct-0

8D

ec-0

8Ja

n-09

Mar

-09

May

-09

Jul-0

9S

ep-0

9N

ov-0

9Ja

n-10

Mar

-10

May

-10

Jul-1

0S

ep-1

0N

ov-1

0Ja

n-11

Mar

-11

May

-11

Jul-1

1S

ep-1

1N

ov-1

1Ja

n-12

Mar

-12

May

-12

Jul-1

2S

ep-1

2


13


��5��-�� 23.24%


��Z5��-�� 51.91%

��8��*�� 49

Sector Allocation$

��5�� 44.33%


��8�� 25

Portfolio Holdings (% of net assets)% Allocation in previous months

Top 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12��[ ��\�� )�*�]�8 5.17 3.89 4.03 3.43 3.52 3.45~��+�z�*��]�8 4.95 4.59 4.54 4.42 4.32 4.24Britannia Industries Ltd. 4.51 4.38 4.84 4.40 4.31 4.57��;��)�*�]�8 4.50 3.92 4.72 4.80 4.25 3.99��]�8 4.10 3.34 3.27 3.02 7.23 7.30Oil & Natural Gas Corp. Ltd. 3.72 3.84 4.46 4.53 4.28 3.97��)�*�]�8 3.40 3.10 2.96 2.95 3.04 2.24Reliance Industries Ltd. 3.38 3.46 4.26 3.23 4.06 4.05Financial Technologies Ltd. 3.30 3.68 3.82 2.94 2.68 2.27Tech Mahindra Ltd. 3.03 3.07 2.65 2.31 2.18 1.87

Portfolio Shifts (% of net assets)New Entry Oct-12 Complete Exit

Crompton Greaves Ltd. 0.52 +��)�*�]�8 1.53NRB Industrial Bearings Ltd. 0.10 Tata Power Co. Ltd. 0.43


Banks 17.28%��[ ��`�\�� )�*�]�8 5.17%

Software 10.43%��]�8 4.10%

Industrial Products 6.53%Max India Ltd. 2.10%

Cement 5.12%Madras Cements Ltd. 1.99%




^(% of Net Assets)



0% 5% 10% 15% 20%

BanksSoftware

Industrial ProductsCement

Petroleum ProductsAuto

Construction ProjectConsumer Non Durables

PharmaceuticalsTransportation

OilPower

Consumer DurablesHealthcare Services

Industrial Capital GoodsFinance

Telecom - ServicesLeisure FacilitiesMinerals/Mining

Media & EntertainmentFerrous Metals

TradingGas

HotelsPesticides

M�� f


14

Religare Growth Fund (NSE Symbol - RELIGAREGF)

Fund Manager Vetri Subramaniam & Vinay Paharia

Asset Allocation

Scheme Info Date of Inception 9th August, 2007Type of Scheme Open-ended

Nature ��

Entry Load* Nil



Fund Positioning�� .��.��@<��~��@+��-��?��

�� M�� *��z��neutral

�� 7��z�� )�� 7�� *� �� *�� M�� -��*

Portfolio Construction Guidelines�� 8� 6�� ?�� -�� {5(� @�

Z''(

�� ]� �� *� ��8��-��-��-�� 5'(�� *8�

�� .�� f�� *�@��z��- �� *��8�� 95(��*�� *�� *��8

�� !��9Z@}'��*�

Who Can Invest?�� *��-��?��

�� *��-��

�� *��-��-��

�� weightages.

#The limit is ascertained every quarter and rebalanced accordingly.

Cash & Cash Equivalent1.93% Equity Holdings

98.07%


` 39.56 crores



Z5


Fund Review & Outlook�� *�� -�� -��5'(�� *8�#�� -�� 6��-�� =�� 8� �� -�� -�� *8��-��8� M��-� �� !��and GMDC.

Risk Ratios

Scheme^ Benchmark$

+��M��H ��J 4.96% 5.99%


Beta 0.81 1.00


Current value of ` 10,000 in Religare Growth Fund

Scheme PerformanceFund Manager : Mr. Vetri Subramaniam & Mr. Vinay Paharia

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception


` 10,000

Religare Growth Fund 12.96 10.30% -13.28% 29.05% 5.17% 12,960

BSE 100 - 14.13% -18.95% 19.00% 4.65% 12,636

S&P CNX NIFTY - 15.38% -18.02% 18.61% 5.16% 12,953

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: August 9, 2007. Please refer to slide no.33 & 34 for fund performance of other schemes managed by Mr. Vetri Subramaniam & Mr. Vinay Paharia.


12,96012,636

Religare Growth Fund - Growth BSE100

400

2400

4400

6400

8400

10400

12400

14400

16400

Aug-

07

Jan-

08

Jul-0

8

Dec

-08

Jun-

09

Dec

-09

May

-10

Nov

-10

Apr-

11

Oct

-11

Apr-

12

Sep-

12


Z4


��5��-�� 33.40%


��Z5��-�� 66.47%

��8��*�� 39

Sector Allocation$

��5�� 54.70%


��8�� 22


% Allocation in previous monthsTop 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12ITC Ltd. 8.87 8.47 8.45 8.19 8.35 8.74=M�#�)�*�]�8 8.05 7.91 7.73 7.73 7.92 7.48Reliance Industries Ltd. 5.60 5.77 5.47 5.22 5.02 5.05Oil & Natural Gas Corp. Ltd. 5.48 5.67 5.71 5.83 5.62 5.25Larsen & Toubro Ltd. 5.40 5.25 4.47 4.49 4.62 4.08Housing Development Finance Corp. Ltd. 5.38 5.41 5.21 5.28 4.83 3.56��]�8 4.93 5.24 4.94 4.58 6.25 6.36~��+�z�*��]�8 3.32 3.09 2.75 2.68 2.68 2.65!��#��]�8 3.28 3.44 3.45 3.38 3.13 1.04+��)�*�� 3.12 3.28 2.72 3.18 3.32 --



No new entry - Tata Power Co. Ltd. 0.54Gujarat Mineral Development Corp. Ltd. 0.52


Banks 19.41%=M�#�)�*�]�8 8.05%

Consumer Non Durables 12.57%

ITC Ltd. 8.87%


Software 7.58%��]�8 4.93%


5.38%



^(% of Net Assets)



0% 5% 10% 15% 20% 25%

Banks


Petroleum Products

Software

Finance

Pharmaceuticals

Oil



Auto

Power

Telecom - Services

Cement

Industrial Products

Chemicals


Ferrous Metals

Consumer Durables

Engineering Services

Non - Ferrous Metals

Leisure Facilities

Transportation

M�� f


17

Religare Equity Fund (NSE Symbol - RELIGAREEF)

Asset Allocation

Scheme Info Date of Inception 4th October, 2007Type of Scheme Open-ended

Nature Equity

Entry Load* Nil



Fund Positioning�� 8��

�� =�-��

�� f�� *��z��

�� .��-�� ?��'@Z''(

�� M��)�� 7��

Portfolio Construction Guidelines�� -�� -��

� �� Z5� ��*�� 9'� ��*�� 5� �� Z'�� %(� �� -�� *� H��-� �!"�� J�

�� #� �� $�� *��

�� -��z��

�� 6�� *�$��-��Z5@95(�

�� -�� -� �� hedging

�� 6f��?�� -��-��'@Z''(

Who Can Invest?�� -�� -�� *� �� *��-� ��

average returns

�� *��-� �� --��f��-

��!��"$&��'��*�� +,�-��/+0Source: AMFI. #The limit is ascertained quarterly and the Portfolio will be rebalanced accordingly if required. $Companies which have market capitalisation of less than the market capitalisation of the last stock of S&P CNX Nifty.

Fund Manager Vetri Subramaniam

& Cash EqCash uivalent20.09%


Fixed Deposits1.74


` 17.61 crores



Z{


Fund Review & Outlook

�� -�� .�� -�� -� �� -��8� ��-��%%(�� 8��-�� 8� �� -�� Z5� �� {� ��8�� -�� 4'(� �� 8� �� *�� -� ��8

Risk Ratios

Scheme^ Benchmark$

+��M��H ��J 4.30% 5.99%


Beta 0.67 1.00


Current value of ` 10,000 in Religare Equity Fund

Scheme PerformanceFund Manager : Mr. Vetri Subramaniam

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception


` 10,000

Religare Equity Fund 13.23 14.74% -14.72% 25.88% 5.77% 13,230

BSE 100 - 14.13% -18.95% 19.00% 1.24% 10,633

S&P CNX NIFTY - 15.38% -18.02% 18.61% 1.83% 10,950

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: October 4, 2007. Please refer to slide no.33 for fund performance of other schemes managed by Mr. Vetri Subramaniam.


13230

10633

Religare Equity Fund - Growth BSE100

4000

6000

8000

10000

12000

14000

Apr

-08

Jul-0

8

Oct

-07

Jan-

08

Oct

-08

Jan-

09

Apr

-09

Jul-0

9

Nov

-09

Feb-

10

May

-10

Aug

-10

Nov

-10

Feb-

11

May

-11

Aug

-11

Dec

-11

Mar

-12

Jun-

12

Sep

-12


19

Sector Allocation$



^(% of Net Assets)



��5��-�� 34.77%


��Z5��-�� 78.16%

��8��*�� 15

��5�� 59.74%


��8�� 8


% Allocation in previous months

Top 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12=M�#�)�*�]�8 8.41 7.95 7.84 7.64 7.14 4.32ITC Ltd. 7.61 5.19 5.31 5.05 6.18 7.55Zee Entertainment Enterprises Ltd. 6.94 5.54 2.90 2.95 -- --~��+�z�*��]�8 6.14 7.86 3.96 7.77 7.81 7.43Tech Mahindra Ltd. 5.67 3.42 4.73 4.17 2.01 --Max India Ltd. 5.47 7.24 8.43 8.13 7.85 8.94Ranbaxy Laboratories Ltd. 5.24 5.03 5.46 2.94 -- --M�8�Q��]��]�8 5.06 -- -- -- -- 7.02Bajaj Auto Ltd. 4.63 4.44 4.09 4.00 -- --\�*�~��)�*�]�8 4.23 4.33 -- -- -- --



M�8�Q��]��]�8 5.06 Reliance Industries Ltd. 8.75��]�8 3.44 Oil & Natural Gas Corp. Ltd. 4.92

+��)�*�� 4.61Hindustan Petroleum Corporation Ltd. 4.24


Banks 16.64%=M�#�)�*�]�8 8.41%

Software 12.79%Tech Mahindra Ltd. 5.67%

Auto 10.77%~��+�z�*��]�8 6.14%

Pharmaceuticals 10.30%

Ranbaxy Laboratories Ltd. 5.24%



0% 5% 10% 15% 20% 25% 30%

Banks

Software

Auto

Pharmaceuticals

Industrial Products




Petroleum Products

Oil

M�� f


20

Religare Banking Fund (NSE Symbol - RELIGAREBF)

Fund Manager Amit Ganatra

Asset Allocation

Scheme Info Date of Inception 14th July, 2008Type of Scheme Open-ended

Nature Banking Sector

Entry Load* Nil



Fund Positioning

Q��-��)�*��-��-��)�*��-��

��+�� 8�� @��*�

��*��-��*�� *��z��8��

��-��

��-��*��8

Portfolio Construction Guidelines�� )�� @��*��*��-��

�� *��

�� .��45(�� -��#��)�*��

�� Q� ��*��-�� #��)�*��

�� 6��)�#��)��*��-�� 8

Who Can Invest?�� *��-��)�*��-��8

�� -��*��8

Cash & Cash Equivalent 3.51%. Equity Holdings

96.49%


` 44.94 crores



21


Fund Review & Outlook.�� -��-�� *�� *��?��8�6��*��-�� -� � ��-�� ?�� *�8� .�� $�� *�� 8� =�� -�� *�� costs in the P&L at elevated levels. While past sanctions continue �� -�� -�� -�� 8� #QQ� �� $�� -� �� 8� <�� *�� )�#��*�� -�� -��8�=��-��*��*8��<��-�� -� �� *�� -� �� *� ��on asset quality remains the same, we have added exposure to entities whereby margins are expected to expand but asset quality is under ��*��-��-��-��-��8

Risk Ratios

Scheme^ Benchmark$

+��M��H ��J 7.77% 8.72%


Beta 0.88 1.00

Q@+?�� 0.98 1.00^Past performance may or may not be sustained in future. Figure based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of the Growth option. Source: RMF $CNX Bank Index

Current value of ` 10,000 in Religare Banking Fund

Scheme PerformanceFund Manager : Mr. Amit Ganatra

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011

(Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception


` 10,000

Q��-��)�*��-�� 21.18 18.86% -19.95% 49.30% 19.49% 21,180

#��)�*�� - 21.00% -23.43% 40.33% 20.58% 22,000

S&P CNX NIFTY - 15.38% -18.02% 18.61% 8.53% 14,118

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: July 14, 2008. Please refer to slide no.33 & 34 for fund performance of other schemes managed by Mr. Amit Ganatra.


2200021180

Religare Banking Fund - Growth CNX Bank Index

5000

10000

15000

20000

25000

30000

Jul-0

8

Dec

-08

May

-09

Oct

-09

Mar

-10

Aug

-10

Jan-

11

Jun-

11

Nov

-11

Apr

-12

Sep

-12


22


��5��-�� 67.86%


��Z5��-�� 92.30%

��8��*�� 19

Sector Allocation$ Portfolio Holdings (% of net assets)

% Allocation in previous monthsTop 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12

�#�#��)�*�]�8� 25.58 26.48 25.99 24.41 22.76 23.47

=M�#�)�*�]�8 22.89 23.32 24.07 22.90 22.73 24.15

+��)�*�� 8.14 8.87 8.41 11.80 14.37 12.95

��[ ��\�� )�*�]�8 5.80 5.32 4.09 2.76 3.02 3.15

.��)�*�]�8 5.45 5.37 3.82 3.88 3.82 4.05

��)�*�]�8 4.45 3.11 3.08 2.69 2.95 3.07

��;��)�*�]�8 3.55 3.22 3.17 3.17 3.08 3.08

#��)�* 3.14 3.17 2.53 2.69 2.80 3.58

��)�*�]�8 3.06 2.92 2.74 3.91 3.68 3.97

~��#� ��6��-��]� 2.49 2.34 2.27 1.97 1.42 1.39

Top Sectors / Respective Stock^

Banks 87.41%�#�#��)�*�]�8 25.58%

Finance 8.16%~��#� ��6��-��]� 2.49%


^(% of Net Assets)


��8�� 3


0% 20% 40% 60% 80% 100%

Banks

Finance

Industrial Products


$As recommended by AMFI

M�� f



No new entry - +��)�*�]�8 2.28



23

Religare Mid Cap Fund (NSE Symbol - RELIGAREMC)

Fund Manager Vinay Paharia

Asset Allocation

Scheme Info Date of Inception 19th April, 2007Type of Scheme Open-ended

Nature Equity

Entry Load* Nil



Fund Positioning�� Q��-��~��:��

and Value

�� !�� z��-��-��-�economy

�� ]��*� �� *�� -� �� down and neglected areas

�� .��-��*��

Portfolio Construction Guidelines�� 7��@�#� �� *��

��*��+`!�#�� 5(�� *��*��+`!�#��

�� <��%'@5'��*��

�� ]�?�� -��--��-��

�� -��-� -�� |'(��?��

Who Can Invest?�� -��-�� -��

�� -�� -�� *�




` 52.53 crores



24

Fund Review & Outlook��~��#�� -�� 8�� *�� -:�� -��8� �� $�� -�� -�� 8� �� *��-�� *��8�� -�� #�� 8� M��-� ��month, we established new position in Texmaco Rail and Engineering, �� .��)�*

Risk Ratios

Scheme^ Benchmark$

+��M��H ��J 5.03% 6.84%


Beta 0.67 1.00

Q@+?�� 0.84 1.00

^Past performance may or may not be sustained in future. Figure based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of Growth option. Source: RMF $ CNX Midcap Index

Current value of ` 10,000 in Religare Mid Cap Fund


Scheme PerformanceFund Manager : Mr. Vinay Paharia

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception


` 10,000

Religare Mid Cap Fund 15.75 12.26% -10.58% 45.41% 8.69% 15,750

CNX Midcap Index - 10.52% -22.59% 36.51% 8.16% 15,335

S&P CNX NIFTY - 15.38% -18.02% 18.61% 6.73% 14,267

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: April 19, 2007. Please refer to slide no.33 & 34 for fund performance of other schemes managed by Mr. Vinay Paharia.


Religare Mid Cap Fund - Growth CNX Midcap

4000

8000

12000

16000

20000

Apr-0

7

Aug-

07

Dec

-07

Apr-0

8

Aug-

08

Dec

-08

Apr-0

9

Aug-

09

Dec

-09

Apr-1

0

Aug-

10

Jan-

11

May

-11

Sep-

11

Jan-

12

May

-12

Sep-

12

1575015335


%5


��5��-�� 19.38%


��Z5��-�� 45.84%

��8��*�� 49

Sector Allocation$

��5�� 53.57%


��8�� 23



Britannia Industries Ltd. 4.33 4.25 4.54 4.17 4.47 4.74

��[ ��\�� )�*�]�8 4.19 3.44 3.48 3.43 3.55 3.48

��;��)�*�]�8 4.00 3.69 3.41 3.51 3.62 3.40

~��#� ��6��-��]� 3.53 3.29 3.19 3.05 3.37 3.10

Sundaram Finance Ltd. 3.32 3.19 3.29 3.17 2.62 3.42

Pidilite Industries Ltd. 3.11 3.52 3.32 3.14 2.89 3.01

[-��!�*��]�8 3.10 2.89 2.94 2.89 2.37 2.32

D. B. Corp. Ltd. 2.91 2.99 2.87 2.69 2.63 2.61

��)�*�]�8 2.85 2.62 2.44 2.46 1.84 1.80

#��7��)�*�]�8 2.71 2.51 2.52 2.51 2.50 2.27



^(% of Net Assets)

Top 5 Sectors / Respective Stock^Banks 19.94%��[ ��`�\�� )�*�]�8 4.19%

Consumer Non Durables 9.43%Britannia Industries Ltd. 4.33%

Finance 9.25%~��#� ��6��-��]�8 3.53%

Media & Entertainment 8.06%[-��!�*��]�8 3.10%

Industrial Products 6.88%Supreme Industries Ltd. 2.06%



-3% 2% 7% 12% 17%

BanksConsumer Non Durables

FinanceMedia & Entertainment

Industrial ProductsTransportation

ChemicalsIndustrial Capital Goods

PowerConstruction Project

TradingPharmaceuticals

Healthcare ServicesSoftware

PesticidesCement

Consumer DurablesEngineering Services

Diversified Consumer ServicesLeisure FacilitiesTextile ProductsAuto Ancillaries

Hotels

M�� f



Texmaco Rail & Engineering Ltd 1.00 .��)�* 1.14


%4

Religare Infrastructure Fund (NSE Symbol - RELIGAREIN)

Fund Manager . ��`�!��*��

Asset Allocation

Scheme Info Date of Inception 21st November, 2007Type of Scheme Open-ended

Nature Equity

Entry Load* Nil



Fund Positioning�� Q��-�� *�� -� ��

�� -� �� ?��?�� companies

�� -� �� India

�� H�� %Z��%''�J�� @��8�8�8��%9��%'Z'

Portfolio Construction Guidelines� � �� *�

selection

�� )��-�� *��-��?��

Who Can Invest?�� *��-��

�� *��-��-��




` 37.63 crores



27

Fund Review & Outlook�� -��-� �� -8�� -��$��*��-�� -�8� �� ?�� -�� z��-��-�� 8�"��-�� -�� an upturn in the capital spending cycle as and when it happens. The �� -�� 8� �� -� �� *�� *� �� *� �� -�� -�� -��-��`��-��$��-��8

Risk Ratios

Scheme^ Benchmark$

+��M��H ��J 5.96% 8.10%


Beta 0.71 1.00

Q@+?�� 0.94 1.00^Past performance may or may not be sustained in future. Figures based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of Growth option. Source: RMF $ CNX Infrastructure index.

Current value of ` 10,000 in Religare Infrastructure Fund

Religare Infrastructure Fund (NSE Symbol - RELIGAREIN)

Scheme PerformanceFund Manager : Mr. Amit Ganatra & Mr. Pranav Gokhale

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011

(Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception


` 10,000

Q��-��Fund

7.43 0.13% -18.73% 21.09% -5.93% 7,430

#�� - -2.43% -30.39% -3.67% -14.48% 4,675

S&P CNX NIFTY - 15.38% -18.02% 18.61% 0.52% 10,256

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: November 21, 2007. Please refer to slide no. 33 , 34 & 35 for fund performance of other schemes managed by Mr.Amit Ganatra and Mr. Pranav Gokhale.


7430

4675

Religare Infrastructure Fund - Growth CNX Infrastructure

1000

3500

6000

8500

11000

13500

Nov

-07

Mar

-08

Jun-

08

Oct

-08

Feb-

09

May

-09

Sep

-09

Dec

-09

Apr

-10

Aug

-10

Nov

-10

Mar

-11

Jul-1

1

Oct

-11

Feb-

12

May

-12

Sep

-12


%{


��5��-�� 30.81%


��Z5��-�� 60.62%

��8��*�� 41

Sector Allocation$

��5�� 55.10%


��8�� 19


% Allocation in previous monthsTop 10 Holdings Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12Larsen & Toubro Ltd. 9.99 9.42 10.06 9.90 9.84 8.14!��#��]�8 7.06 7.16 9.45 9.08 8.44 4.82Bharti Airtel Ltd. 5.71 5.39 2.50 2.92 2.89 6.07Sadbhav Engineering Ltd. 4.22 4.11 3.81 3.67 3.92 3.60Va Tech Wabag Ltd 3.84 3.62 3.87 3.74 3.80 3.61AIA Engineering Ltd. 3.79 3.34 3.25 1.38 1.46 1.64Madras Cements Ltd. 3.33 3.02 2.29 2.03 1.91 2.20Greaves Cotton Ltd. 3.29 3.18 2.83 2.63 2.79 2.89Apollo Hospitals Enterprise Ltd. 3.21 3.36 2.99 2.89 2.76 3.17Oil & Natural Gas Corp. Ltd. 3.16 3.18 3.24 3.24 3.14 2.96



Gujarat Gas Co. Ltd. 1.03 Tata Power Co. Ltd. 0.98

Texmaco Rail & Engineering Ltd. 0.77 Idea Cellular Ltd. 0.83

NRB Industrial Bearings Ltd. 0.14 Ambuja Cements Ltd. 0.61


Religare Infrastucture Fund (NSE Symbol - RELIGAREIN)

^(% of Net Assets)


Construction Project 17.19%Larsen & Toubro Ltd. 9.99%

Power 13.91%!��#��]�8 7.06%

Industrial Products 11.06%Greaves Cotton Ltd. 3.29%

Industrial Capital Goods 7.24%AIA Engineering Ltd. 3.79%

Telecom - Services 5.71%Bharti Airtel Ltd. 5.71%



0% 5% 10% 15% 20%


Power

Industrial Products


Telecom - Services

Cement

Transportation

Banks

Auto Ancillaries


Healthcare Services

Oil

Gas

Petroleum Products

Minerals/Mining

Ferrous Metals

Diversified Consumer Services

Finance

Chemicals

M�� f


29

Religare Mid N Small Cap Fund (NSE Symbol - RELIGAREMS)

Fund Manager Vinay Paharia

Asset Allocation

Scheme Info Date of Inception 17th March, 2008Type of Scheme Open-ended

Nature Equity

Entry Load* Nil



Fund PositioningQ��-��~��+ ��+��*�8�� !�� z��-��-��-�

economy �� ]��*� �� *�� -� ��

down and neglected areas�� .��-��*�� *�

��-��

Portfolio Construction Guidelines�� 7�� @� ~�� #�� #� �� *��

��-��*��#��~�� *��#��~��+ ��#��#� �� *��-��*��)+6� + �� #�� *� �� )+6� + �� #��Index

�� *��?��-��

�� ]�?�� -��--��-��

Who Can Invest?�� +�� --�� *� �� :�

~��`�+ ��*��-�� -��*�

�� *��-� � ��-�� -�� -�� -�� `�� *�




` 20.19 crores



30

Fund Review & Outlook�� ~�� + �� -��@�� -�� *�� -�� -�� -��8� �� *�� -:�� -��8� �� $�� -�� -�� 8�� + ��-�� z�� 8� #�� -�� -�� -�� *�� *��8��-��#�� *��in this sector present an opportunity to play the structural growth in �� f��-��8�M��-�� new position in Texmaco Rail and Engineering and Tech Mahindra, while �� .��)�*8

Risk RatiosScheme^ Benchmark$

+��M��H ��J 5.17% 6.84%


Beta 0.70 1.00

Q@+?�� 0.86 1.00

^Past performance may or may not be sustained in future. Figures based on 2 years, monthly data history, risk-free rate of return is assumed to be 8.14% (based on the prevailing yield of 91 day Treasury Bill). Data as on October 31, 2012. Returns are of the Growth option. Source: RMF $ CNX Midcap Index

Current value of ` 10,000 in Religare Mid N Small Cap Fund


Scheme PerformanceFund Manager : Mr. Vinay Paharia

Scheme / Benchmark

NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012 (Absolute)

30/09/2010 to 30/09/2011

(Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception


` 10,000

Religare Mid N Small Cap Fund

15.80 13.34% -11.04% 58.76% 10.60% 15,800

CNX MIDCAP Index - 10.52% -22.59% 36.51% 6.43% 13,272

S&P CNX NIFTY - 15.38% -18.02% 18.61% 5.34% 12,665

Past performance may or may not be sustained in future. Returns are of Growth Option. Inception date: Marchr 17, 2008. Please refer to slide no.33 & 34 for fund performance of other schemes managed by Mr. Vinay Paharia.


1580013272

Religare Mid N Small Cap Fund - Growth

CNX Midcap

2400

4600

6800

9000

11200

13400

15600

17800

Mar

-08

Jul-0

8

Oct

-08

Feb

-09

May

-09

Sep

-09

Jan-

10

Ap

r-10

Aug

-10

Dec

-10

Mar

-11

Jul-1

1

Oct

-11

Feb

-12

Jun-

12

Sep

-12


31


��5��-�� 20.28%


��Z5��-�� 47.89%

��8��*�� 52

Sector Allocation$

��5�� 52.00%


��8�� 26



��[ ��\�� )�*�]�8 4.37 3.34 3.22 3.13 3.34 3.94

Britannia Industries Ltd. 4.28 4.22 4.73 3.93 4.48 4.78

~��+�z�*��]�8 4.18 3.93 3.90 3.78 4.35 3.77

��;��)�*�]�8 3.80 3.36 3.33 3.37 3.40 3.74

~��#� ��6��-��]� 3.64 3.33 3.26 3.04 3.35 3.11

Sundaram Finance Ltd. 3.07 2.76 3.05 2.68 2.35 2.53

D. B. Corp. Ltd. 3.03 2.92 2.92 2.63 2.46 2.46

[-��!�*��]�8 3.01 2.82 2.97 2.88 2.56 2.33

Pidilite Industries Ltd. 2.93 3.15 3.33 3.17 2.87 3.02

Torrent Pharmaceuticals Ltd. 2.80 2.89 2.84 2.63 2.59 2.80



Banks 20.18%��[ ��`�\�� )�*�]�8 4.37%

Consumer Non Durables 9.81%Britannia Industries Ltd. 4.28%

Finance 8.52%~��#� ��6��-��"�� 3.64%

Media & Entertainment 8.08%D.B.Corp Ltd. 3.03%

Industrial Products 5.41%Supreme Industries Ltd. 1.88%



Texmaco Rail & Engineering Ltd. 0.76 .��)�* 0.96

Tech Mahindra Ltd. 0.47



^(% of Net Assets)


0% 5% 10% 15% 20%

Banks


Finance


Industrial Products

Pharmaceuticals

Auto


Chemicals

Consumer Durables

Software

Power

Trading

Transportation

Pesticides

Auto Ancillaries

Healthcare Services

Textile Products


Diversified Consumer Services

Leisure Facilities


Cement

Hotels

Minerals/Mining

Petroleum Products

M�� f

32

Fund Positioning

Religare Tax Plan��9@�� z��-�� -�� long term trends.

Religare PSU Equity Fund��!+7��@��-�� *��-��$�� *��8

Religare Business Leaders Fund.�� -�� *�� *8

Religare Contra Fund6��*��*�� *�� 8

Religare Growth Fund.� �� -� �� -�� @� � �� ?��8

Religare Equity Fund#� �� -� ��-�� *��8

Religare Banking Fund.�� -��*��-��8

Religare Midcap FundM�� )�� @�� *� ��*��-� ��-�� -�� -� �� trends.

Religare Infrastucture Fund.� �� -��8

Religare Mid N Small Cap FundM�� )�� @�� *� ��*��-� ��-�� -�� -� �� trends.

33

Scheme / Benchmark NAV as on 28/09/2012

(`)

30/09/2011 to 28/09/2012(Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)

Since Inception(CAGR) Current Value of

`10,000 Fund Manager : Vetri Subramaniam & Vinay Paharia

RELIGARE TAX PLAN 18.53 11.43% -11.73% 34.09% 11.31% 18,530

BSE 100 - 14.13% -18.95% 19.00% 6.12% 14,0781S&P CNX NIFTY - 15.38% -18.02% 18.61% 6.51% 14,379

RELIGARE GROWTH FUND 12.96 10.30% -13.28% 29.05% 5.17% 12,960

BSE 100 - 14.13% -18.95% 19.00% 4.65% 12,6361S&P CNX NIFTY - 15.38% -18.02% 18.61% 5.16% 12,953

Past performance may or may not be sustained in future.�Q��"��8�

Fund Manager : Vetri Subramaniam & Amit Ganatra

RELIGARE PSU EQUITY FUND 9.90 -0.20% -18.62% NA - -

BSE PSU Index - 0.16% -27.98% NA - -

1S&P CNX NIFTY - 15.38% -18.02% NA - -

RELIGARE CONTRA FUND 16.26 10.09% -14.23% 22.56% 9.29% 16,260

)+6�5'' - 12.85% -20.02% 21.85% 6.79% 14,3301S&P CNX NIFTY - 15.38% -18.02% 18.61% 7.38% 14,765


Fund Manager : Vetri Subramaniam

RELIGARE EQUITY FUND 13.23 14.74% -14.72% 25.88% 5.77% 13,230

BSE 100 - 14.13% -18.95% 19.00% 1.24% 10,6331S&P CNX NIFTY - 15.38% -18.02% 18.61% 1.83% 10,950

RELIGARE BUSINESS LEADERS FUND 12.51 12.20% -15.98% 22.87% 7.47% 12,510

S&P CNX NIFTY - 15.38% -18.02% 18.61% 7.70% 12,593

1BSE Sensex - 14.03% -18.01% 17.18% 6.91% 12,311

Past performance may or may not be sustained in future8�Q��"��8�

Religare Fund Performance Update

34


(`)

30/09/2011 to 28/09/2012(Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)


`10,000 Fund Manager : Vinay Paharia

RELIGARE MID CAP FUND 15.75 12.26% -10.58% 45.41% 8.69% 15,750

CNX Midcap Index - 10.52% -22.59% 36.51% 8.16% 15,3351S&P CNX NIFTY - 15.38% -18.02% 18.61% 6.73% 14,267

RELIGARE MID N SMALL CAP FUND 15.80 13.34% -11.04% 58.76% 10.60% 15,800

CNX MIDCAP Index - 10.52% -22.59% 36.51% 6.43% 13,2721S&P CNX NIFTY - 15.38% -18.02% 18.61% 5.34% 12,665


Fund Manager : Amit Ganatra

RELIGARE BANKING FUND 21.18 18.86% -19.95% 49.30% 19.49% 21,180

#��)�*�� - 21.00% -23.43% 40.33% 20.58% 22,0001S&P CNX NIFTY - 15.38% -18.02% 18.61% 8.53% 14,118


Fund Manager : Amit Ganatra & Pranav Gokhale

RELIGARE INFRASTRUCTURE FUND 7.43 0.13% -18.73% 21.09% -5.93% 7,430

#�� - -2.43% -30.39% -3.67% -14.48% 4,6751S&P CNX NIFTY - 15.38% -18.02% 18.61% 0.52% 10,256


Fund Manager : Pranav Gokhale3RELIGARE ARBITRAGE FUND 14.6044 9.18% 8.13% 4.04% 7.24% 14,604

CRISIL Liquid Fund Index - 8.65% 7.77% 4.05% 6.95% 14,3941S&P CNX NIFTY - 15.38% -18.02% 18.61% 6.33% 13,952

RELIGARE AGILE FUND 7.23 19.70% -14.20% 21.38% -6.56% 7,230

S&P CNX NIFTY - 15.38% -18.02% 18.61% -0.17% 9,9171BSE Sensex - 14.03% -18.01% 17.18% -0.36% 9,828

RELIGARE AGILE TAX FUND 8.01 17.62% -14.45% 18.81% -4.75% 8,010

S&P CNX NIFTY - 15.38% -18.02% 18.61% 3.85% 11,8811BSE Sensex - 14.03% -18.01% 17.18% 3.66% 11,783



(`)

29/09/2011 to 28/09/2012(Absolute )

29/09/2010 to 29/09/2011

(Absolute )

29/09/2009 to 29/09/2010

(Absolute )


`10,000 Fund Manager : Sujoy Das, Nitish Sikand & Pranav Gokhale2RELIGARE MONTHLY INCOME PLAN - PLUS 12.1275 10.00% 6.62% NA - - H45(J#Q�+�]�~�!�)��H95(J!�� - 14.45% 13.46% NA - - 1#Q�+�]�Z��@)�� - 8.14% 5.38% NA - -

Past performance may or may not be sustained in future. Q��"��8�Fund Manager : Sujoy Das & Pranav Gokhale2RELIGARE MONTHLY INCOME PLAN 11.5582 8.99% 2.73% NA - - CRISIL MIP Blended Index - 10.38% 2.21% NA - - 1#Q�+�]�Z��@)�� - 8.14% 5.38% NA - -

RELIGARE CAPITAL PROTECTION ORIENTED FUND – SERIES I 11.0472 8.69% NA NA - - CRISIL MIP Blended Index - 10.38% NA NA - - 1#Q�+�]�Z��@)�� - 8.14% NA NA - -

Past performance may or may not be sustained in future. Q��"��8�

95



(`)

30/09/2011 to 28/09/2012(Absolute)

30/09/2010 to 30/09/2011 (Absolute)

30/09/2009 to 30/09/2010 (Absolute)


`10,000 RELIGARE NIFTY EXCHANGE TRADED FUND 575.8334 16.11% NA NA - - S&P CNX NIFTY - 15.38% NA NA - - 1BSE Sensex - 14.03% NA NA - -


No. Of Schemes managed by respective Fund ManagersVetri Subramaniam 6 Amit Ganatra 4 Sujoy Das 9Vinay Paharia 4 !��*�� 8 ��+�*�� 5 & FMPs

Past performance may or may not be sustained in future.�Q��"��8�+��-�� 9��8��-�� Q��-��6��-��.;�� *��Q�8�Z'�@8��-��Q��-��6��-��.;�� *��Q�8�5}{8%{8��;��Q�8�Z'�@8�+�� 9'��-��@�� +�� %|�`�+�� %{��-��81�.��)�� *8 2�Q��-��~�� !��!��Q��-��~�� !�� *�� ?�� 6��H��Q��-��~�!�!��J8�3Q��-��.��-�� *�� *��?�� *�� -��-��8

Q��-��#��!��"��:�+��Z�@��+�� f��-��8��-�� +�� *�-��8

94

Transaction Charges : A transaction charge, as follows, is payable to distributors who have opted to receive transaction charge@: i) For existing investor in a Mutual Fund: Rs.100/- per subscription of Rs.10,000/- and above; ii) For first time investor in Mutual Funds: Rs.150/- per subscription of Rs.10,000/- and above. In case of investment through systematic investment plan (SIPs), the transaction charge shall be applicable only if the total commitment through SIP (i.e. amount of each SIP installment X total number of SIP installments) amounts to Rs. 10,000/- and above. In such cases, the transaction charge shall be recovered in 3-4 installments, as may be decided by Religare AMC. However, there will be no transaction charge on: i) Subscription of less than Rs. 10,000/-; or ii) Transactions other than purchases / subscriptions relating to new inflows; or iii) Direct subscription (subscription not routed through distributor); or iv) Subscription routed through distributor who has chosen to ‘Opt-out’ of charging of transaction charge; or v) Transaction routed through Stock Exchange(s). The transaction charge, if any, will be deducted by AMC from subscription amount and shall be paid to distributor. The balance subscription amount, after deducting applicable transaction charges, will be invested. It is clarified that upfront commission to distributor will continue to be paid by the investor directly to distributor by a separate cheque.@Distributors shall also have the option to either opt in or opt out of levying transaction charge based on type of the product subject to availability of proper systems in place.

* The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor.

#Exit load charged, if any, will be credited back to the scheme, net of service tax.

Disclaimer: �� !�from the sources which it considers reliable. While utmost care has been exercised while preparing this document, Religare AMC does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. The recipient of this material should rely on their investigations and take their own professional advice. �

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Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Assets Under Management

Table IAUM REPORT FOR THE QUARTER ENDED (30/09/2012)

.��AAUM

Category Average AUM for the Quarter (Rs. in Lakhs)

Income 748,904.65

Equity (other than ELSS) 45,231.87

Balanced 0.00

Liquid 451,238.53

Gilt 16.10

Equity - ELSS 12,831.99

GOLD ETF 7,071.59

Other ETF 255.54

Fund of Fund investing overseas 0.00

Total 1,265,550.27

Table IIAUM REPORT FOR THE QUARTER ENDED (30/09/2012)

M��-��.7~��-��-��

Geographical Spread % of Total AUM as on the last day of the Quarter

Top 5 Cities 90.07%

Next 10 Cities 6.42%



Others 0.07%

Total 100.00%

Get In TouchCorporate Office:Religare Asset Management Company Private Limited3rd Floor, GYS Infinity, Paranjpe ‘B’ Scheme, Subhash Road, Vile Parle (East), Mumbai - 400 057, India.T +91 22 67310000 F +91 22 28371565

Call : 1800-209-0007

Sms : ‘Invest’ to 56677 > Invest Online www.religaremf.com

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