(Formerly Known as Reliance Growth Fund)(Mid Cap Fund - An open ended equity scheme predominantly investing in mid cap stocks)

Nippon India Growth Fund

Product Label

Nippon India Growth Fund - (Mid Cap Fund - An open ended equity scheme predominantly investing in mid cap stocks)

PRODUCT LABELNippon India Growth Fund is suitable for investors who are seeking*:

• Long term capital growth

• Investment equity and equity related instruments through a research based approach

*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Investment Rationale for Mid Caps &

‘Current Market Opportunity’

Two Consecutive years of Market Divergence (Large vs Mid)

• Unusually Narrow market with strong divergence wherein Large Caps have significantly outperformed

• Even within Large Caps huge differential as less than 10% of stocks contributing most returns

• Polarization leading to illusion of markets all time highs driven by narrow indices while the broad markets have underperformed

Past Performance may or may not be sustained in future. Market scenarios are not the reliable indicators for current or futureperformance. The same should not be construed as investment advice or as any research report/research recommendation. Abovechart is for illustrative purpose only.

Source: MFI Explorer

CY 2018 Returns (%) CY 2019 Returns (%)

Favourable Valuations

• Concentration of returns in select few stocks creating a Mirage of all time highs

• Mid Cap space has witnessed meaningful correction over the last couple of years leading to relatively attractive valuations

(Trailing 12 Months P/E)

Source: www.bseindia.com, www.economictimes.com

Past Performance may or may not be sustained in future. Market scenarios are not the reliable indicators for current or futureperformance. The same should not be construed as investment advice or as any research report/research recommendation. Abovechart is for illustrative purpose only.

Mid Cap vs Large Caps – A perspective over 15 years

• Mid caps tend to outperform in reasonable uptrend periods

• While Mid Caps have significantly impacted over last 2 years there are some early revival signs

Past Performance may or may not be sustained in future. Market scenarios are not the reliable indicators for current or futureperformance. The same should not be construed as investment advice or as any research report/research recommendation. Abovechart is for illustrative purpose only.

Absolute Change (Sep’19 to Dec’19)

Fund Strategy – Focus on Alpha Creation

High ROE Businesses

Value / Contra Plays

Bottom Up Ideas

Scalable Opportunities

Note: The current fund philosophy may change in future depending on market conditions or fund manager’s views.ROE = Return on Equity Source : NIMF Internal Research

Current Positioning

Midcap Fund investing in a portfolio of high growth companies across sectors

Prudent Risk Management

Investment in a single stock:

< 5%

Top 10 stocks: ~ 25 - 30% of the

portfolio

Single sector exposure: < 25% of the portfolio

Mid Cap Allocation ~65 -70%,

rest in Large and SmallCap

Stock selection

based on gap between fair

value and market price

Selective large cap exposure

to provide portfolio

liquidity & stability

Allocation to Value &

Contra plays to create

alpha

Stock selection

based on gap between fair

value and market price

Early identification

of emerging/nich

e trends & scalable

businesses

Mid Cap allocation

~65 – 70%, rest in Large

Cap and Small Cap

The above exposure is subject to change within the limits of SID depending on the market conditions.

Key Themes

Focused on key domestic recovery themes like:

– Niche Financials

• Small Banks, Gold NBFCs, Holding Cos, Insurance, MFIs

– Cyclicals which are plays on improving demand & consolidation

• Hotels, Real Estate, Multiplexes, Cement

– Large opportunity industries with proven managements

• Organized retailing, pharma, apparel brands

– Consumption

• Lifestyle Changes, Housing

Note: The current fund philosophy within the limits of SID may change in future depending on market conditions or fund manager’sviews. The sectors above are illustrative and are not recommended by NIMF.

Scheme Facts

Top 10 Holdings & Sectors (As on Dec 31, 2019)

The sectors mentioned in the table is not a recommendation to buy/sell in the said sectors. The scheme currently holding investments inthe said sectors may or may not have future position in the same. The stocks mentioned form a part of the portfolio of the scheme andmay or may not form a part of the portfolio in future. Please read Scheme Information Document carefully for more details and riskfactors. For complete details on Holdings & Sectors, please visit website www.nipponindiamf.com

Top 10 Holdings WeightageVarun Beverages Limited 4.78%

Cholamandalam Financial Holdings Limited 3.42%

Aditya Birla Fashion and Retail Limited 3.12%

City Union Bank Limited 2.74%

SRF Limited 2.54%

AU Small Finance Bank Limited 2.46%

Vardhman Textiles Limited 2.40%

Bharat Forge Limited 2.33%

Tata Power Company Limited 2.10%

ICICI Bank Limited 2.04%

Top 10 Sectors Weightage

Finance 14.32%

Banks 11.87%

Consumer Non Durables 9.80%

Pharmaceuticals 8.49%

Software 4.78%

Auto Ancillaries 3.94%

Consumer Durables 3.88%

Textile Products 3.78%

Power 3.62%

Healthcare Services 3.40%

Performance Details

Track record of over 2 Decades

NAV Rs 1143 (31st Dec’19)

NAV Rs 10 (8th Oct’95)

Past Performance may or may not be sustained in the future. Returns as on 31st Dec 19. The above returns are of Growth Plan(Regular Plan). For complete details on performance, refer slide no. 15.

SIP PERFORMANCE (As on December 31, 2019)

Past performance may or may not be sustained in the future. Returns on SIP and Benchmark are annualised and cumulative investment return forcash flows resulting out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. It isassumed that a SIP of Rs. 10,000/- each executed on 10th of every month for Growth Plan (Regular Plan) has been taken into consideration includingthe first installment. It may please be noted that load has not been taken into consideration. The amounts invested in SIP and the market values ofsuch investments at respective periodic intervals thereof are simulated for illustrative purposes for understanding the concept of SIP. This illustrationshould not be construed as a promise, guarantee on or a forecast of any minimum returns. The Mutual Fund or the Investment Manager does notassure any safeguard of capital and the illustrated returns are not necessarily indicative of future results and may not necessarily provide a basis forcomparison with other investments. SIP does not guarantee or assure any protection against losses in declining market conditions.

TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts fromconstituent index stocks, thereby showing a true picture of returns.

B: Benchmark, AB: Additional Benchmark, TRI: Total Return IndexInception Dates: 08/10/1995

Period Since Inception 20 Years 15 Years 10 Years 5 Years 3 Years 1 Year

Tota l Amount Invested (₹) 2,900,000 2,400,000 1,800,000 1,200,000 600,000 360,000 120,000

Market Value (₹) 71,862,225 27,073,645 5,182,613 2,192,750 729,340 387,366 127,294

Scheme Return (%) 21.85 20.74 13.02 11.65 7.82 4.90 12.03

B: S&P BSE MidCap TRI Return (%) N.A N.A N.A 11.26 6.21 0.81 8.35

AB: S&P BSE Sensex TRI Return (%) N.A 14.88 12.36 12.26 13.06 13.78 18.31

N.A : Since TRI data is not available prior to 16/09/2005 & 19/08/1996 for S&P BSE Mid Cap & S&P BSE Sensex respectively, performance for suchperiod is not provided.

Nippon India Growth Fund

Scheme Performance (Lumpsum)

B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index

As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from date06/10/1995 to date 19/08/1996 and TRI values since date 19/08/1996.

NA has been mentioned for benchmark as data for corresponding period is not available.

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Performanceof the schemes (wherever provided) are calculated basis CAGR for the past 1 year, 3 years, 5 years and since inception. In case, the start/end date of the concernedperiod is non-business day (NBD), the NAV of the previous date is considered for computation of returns. TRI - Total Returns Index reflects the returns on the indexarising from (a) constituent stock price movements and (b) dividend receipts from constituent index stocks, thereby showing a true picture of returns.For performance of other funds managed by the Fund Manager, please refer slide 17.

Inception Date - Oct 8, 1995

Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).Source : MFI Explorer, Data As on December 31, 2019

Fund Manager: Manish Gunwani (Since Sep 2017), (Dhrumil Shah - Co-Fund Manager Since Feb 2019), Tejas Sheth (Co-Fund Manager Since May 2019)

ParticularsCAGR %

1 Year 3 Years 5 Years Since Inception

Nippon India Growth Fund 6.78 11.11 8.59 21.59

B: S&P BSE MidCap TRI -2.06 8.69 8.81 NA

AB: S&P BSE Sensex TRI 15.66 17.11 9.87 12.32

Value of Rs 10,000 InvestedNippon India Growth Fund 10,678 13,722 15,106 1,143,190

B: S&P BSE MidCap TRI 9,794 12,841 15,257 NAAB: S&P BSE Sensex TRI 11,566 16,069 16,014 167,331

NAV as on Dec 31, 2019: Rs 1143.1843

Performance of other funds managed by the Fund Manager

Performance of Other Schemes managed by Manish Gunwani

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Performance ofthe schemes (wherever provided) are calculated basis CAGR for the past 1 year, 3 years, 5 years and since inception. In case, the start/end date of the concerned periodis non-business day (NBD), the NAV of the previous date is considered for computation of returns. Schemes which have not completed one year, performance detailsfor the same are not provided. Performance details of closed ended schemes are not provided since these are not comparable with other schemes. TRI - Total ReturnsIndex reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent index stocks, thereby showing atrue picture of returns. The performance of the equity schemes appearing above is benchmarked to the Total Return variant of the Index.

Source : MFI Explorer, As on December 31, 2019

Scheme Name CAGR %

1 Year Return 3 Years Return 5 Years ReturnScheme Benchmark Scheme Benchmark Scheme Benchmark

Nippon India Balanced Advantage Fund 8.26 10.66 10.83 12.04 7.89 9.44

Mr. Manish Gunwani has been managing Nippon India Balanced Advantage Fund since May 2018 jointly with Mr. Ashutosh Bhargava.

Note:a. Mr. Manish Gunwani manages 2 open-ended schemes of Nippon India Mutual Fund.b. In case the number of schemes managed by a fund manager is more than six, in the performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Product Label

Name of Scheme This product is suitable for investors who are seeking*:

Nippon India Balanced Advantage Fund(Formerly Known as Reliance Balanced Advantage Fund)(An Open Ended Dynamic Asset Allocation Fund)

• Long term capital growth• Investment in equity and equity related instruments, debt, money market instruments and derivatives

Disclaimer

The information herein is meant only for general reading purposes and the views being expressed onlyconstitute opinions and therefore cannot be considered as guidelines, recommendations or as aprofessional guide for the readers Certain factual and statistical information (historical as well asprojected) pertaining to Industry and markets have been obtained from independent third partysources, which are deemed to be reliable. It may be noted that since Nippon Life India AssetManagement Limited (NAM India) (formerly known as Reliance Nippon Life Asset ManagementLimited) has not independently verified the accuracy or authenticity of such information or data, or forthat matter the reasonableness of the assumptions upon which such data and information has beenprocessed or arrived at NAM India does not in any manner assures the accuracy or authenticity of suchdata and information. Some of the statements assertions contained in these materials may reflectNAM India’s views or opinions, which in turn may have been formed on the basis of such data orinformation.

Before making any investments, the readers are advised to seek independent professional advice,verify the contents in order to arrive at an informed investment decision. None of the Sponsors, theInvestment Manager, the Trustee, their respective directors, employees, affiliates or representativesshall be liable in any way for any direct, indirect, special, incidental, consequential, punitive orexemplary damages, including on account of lost profits arising from the information contained in thismaterial.

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

Thank you for your time!