for private circulation only august 2019 managing finances ... · for private circulation only...

AUGUST 2019For private circulation only

After all the music and celebrations of an Indian marriage die down, a new life starts and it is time to get back to the business of living. For the couple, this is a precious time – time to know each other, understand the family cultures, habits and to accommodate to each other's lives. The time spent together learning about each other would be cherished for the rest of their lives.

Marriage is a true partnership between two individuals. As is mostly the case today, both individuals are earning and financially independent. As a new partnership begins, there are certain things to be considered also on the financial front. A new beginning also means an open, transparent and realistic financial assessment and taking some actions at this important juncture of life. So, what is this assessment and actions we are talking about?

Identifying your financial goals The first step is identifying your shared financial goals. What can be these goals? It can be anything like – higher studies, buying of own house, buying a car, vacation plans, repaying existing loans, starting a family and so on. After settling in life, identifying your financial goals is the first important thing to do. However, finalising your goals sounds easy but may rather be difficult to do so. So here is what one can do:

Discuss each other's dreams and aspirations and also the priority for same. One should be reasonable in their dreams and also be considerate to the present financial situation of your partner.

Dig deeper into what exactly is the goal – buying a home may sound ok, but we need more details. One needs to identify what type of house, how big should be the house, which locality, what amenities, when exactly is it targeted, etc. Only then the real picture can be drawn for the goal.

Put out an approximate target value to each of the goals, considering inflation for the time till maturity.

After the goals are shortlisted and break down the goals into short – medium – long term goals.

Prepare the financial plans After the goals along with time horizons are mutually agreed, the next step is to plan your finances. This starts with sharing the income and expenses budgets for the month between the couple. Estimated household expenses will have to be deducted from the combined income. The couple may mutually shares some of the expenses between them. The balance savings will have to be directed towards the goals. You may also like to consolidate all of your assets and liabilities to find the true financial picture for both. An expert can be consulted for doing this entire exercise.

Take Actions Once the financial plans are ready and you

have your savings plan also ready with you, it is time for action. Choose the right asset class and products to invest in. However, there are a few important things you need to keep in mind here beyond financial goals. Every newly married couple should explore the following important decisions:

Life InsuranceNeedless to say, life insurance is the most important thing you have to buy for the financial security of your new family. A pure term plan that gives the maximum financial security is a must-buy product. This will protect your spouse and also your family in case anything happens to either of you. Remember to buy the life insurance covers individually for both husband and wife.

The early you buy a life cover, the cheaper it is. Further, any medical condition developing at a later stage will also increase your premiums later. So, it is better to buy term insurance of a good amount early in life.

Health InsuranceProtection against health insurance is also

Managing Finances forNewly Married Couple

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Traditional investmentsAs we already know, the interest rates have been on a downward trend for a few years now. The government would want to bring the interest rates in line with the market rates on government-sponsored saving schemes

like PPF, Postal Schemes etc, with some premium for investors. The post-tax return from the traditional investment avenue of bank fixed deposits is also very low. Inflation, coupled with rising medical costs and lower interest rates leaves little option to

retired individuals in terms of investment instruments, which can generate decent inflation-beating, post-tax returns.

Consider the inflation effectDuring working life, the inflation effect more

now a big priority for you. With escalating health and medical costs, it will become increasingly difficult to manage affairs in case of medical emergencies. Note that the cover provided by your employer may not be adequate for and/or cover both of you. It is recommended that you buy an independent health cover to cover your family. The amount of cover should be at least 10 lakhs considering medical inflation today and can be increased later.

It is also highly recommended that you cover your parents in some health plans, even if they are financially sound. Medical care for the elderly is becoming very costly and having insurance as a backup plan is highly recommended. Perhaps it may be the right time start health insurance as your parent's age may not be too high now and policies would be available. As they age further and medical conditions develop, the policies will be hard to get by and also may be very expensive.

Sharing /update of recordsAnother important activity a couple should do is to share the important financial records and documentation. Records should also be updated in your financial

accounts and investments, w.r.t. say nomination, company records for insurance, etc. Sharing of such financial information would make life easy for your partner to manage the state of affairs in case of any emergency or your absence.

Mutual Fund SIPFrom the savings plan that you have drawn for yourself, a mutual fund SIP is today like a no brainer. Done with a long term investment horizon of say at least 7-10 years, this investment method promises to deliver decent, inflation-beating returns better than any asset class. A SIP is an ideal way to invest in your long term financial goals and also for wealth creation purpose. The sooner you start, the more you save, the better it is for you.

A SIP helps you the best by enabling you to save little amounts every one from your budget. This SIP amount can also be increased automatically at a set frequency (say every six months or yearly) to match with growth in your income. It is important to note, however, that equities are a risky asset class and investments should not be done for a short term.

CONCLUSIONA marriage is a beautiful creation of society and mutual love and trust can make it even more wonderful. With proper financial planning and timely actions, you would also lay strong financial foundations for the long journey ahead. These financial foundations are not to be ignored as they will prove themselves and make your relationship even stronger as you go out into the world creating our own space.

Retirement period is like a new beginning for an individual who is getting retired. It is the time to

unwind and pursue hobbies, which you were not able to pursue due to lack of time during your

working life. Whether to plan a vacation to unexplored locations or pursue the hobbies like gardening

or photography, or do whatever you love, what would help make your retired life a peaceful,

worry-free experience is the proper asset allocation of your retirement fund.

Your post-retirement period, on one hand, is the most relaxing period of life after putting long years

of working life but on the other hand, it's a period when fresh income will stop and you will have to

manage with whatever retirement corpus you have generated during your working life. With higher

life expectancy, rising cost of medical treatments and inflation, life has become more challenging for

a retired individual.

Post RetirementPortfolio Management

or less gets nullified as your income grows in line with the inflation rate but during retirement, inflation eats into your savings as you no longer have a growing income. So, it becomes essential that your portfolio generates an inflation-beating return.

Let's consider that your monthly expense when you retire at the age of 60 is 25,000 per month. With inflation of 8%, this will grow to 1.16 lakhs per month by the time you turn 80 years of age. So obviously your retirement kitty must earn a return over and above 8% just to keep you floated and in today's environment, there is perhaps no fixed income debt product, which can give you above 8% post-tax returns.

Equity flavour to your portfolio?We have always emphasized that long term equity is perhaps the most likely financial asset which can give you the tax-efficient inflation-beating returns. Although it comes with its share of volatility and risks, you can't ignore having equity flavour in your portfolio if you want your retirement kitty to adequately provide for your entire retirement period. It must be noted here that the post-retirement period can easily extend to 15-20 years.

We have also emphasized the importance of having long term investment horizon when it comes to equity investment as duration increases, volatility and risks come down substantially. Thus, the investment horizon is long enough for a bit of equity

exposure. The quantum of equity exposure depends on your requirements and the amount of retirement kitty already available.

Importance of Asset AllocationThere is no doubt that debt should be the major part of your portfolio. The equity component should be only that kitty which you are unlikely to consume in the next 7-10 years. Normally, a component of 10-25% would suffice if you have a decent retirement kitty. Please note that the equity component must strictly be need driven.

The important thing to remember is to maintain proper asset allocation between equity, debt and physical assets (say real estate), if any, during retirement years. Taking exposure to equity through diversified equity funds or balanced funds is advisable rather than buying equity shares directly from the market. Having an ideal allocation between these asset classes can protect you from a potential downside of equity and generate inflation-beating returns. Further, the asset allocation would slowly reduce on the equity component as you age and should ideally be nil by the time you reach say 70-75 years.

Doing STP/SWP in Retirement YearsAt the time of retirement, an individual gets a large sum of money as retirement kitty, a part of which is normally used to buy an annuity and the rest is invested in the debt

asset class. Funds equivalent to meet the expenses for the next 7-10 years of expenses will always be kept in no-risk debt products. However, from the rest of the funds which are not likely to be used can be put in liquid/short term category of funds and an STP can be done to diversified mutual fund schemes such that the funds are all transferred to equity in next 2-3 years max. Remember that STP or Systematic Transfer Plan works like a SIP, except that the investment in one fund comes from an existing fund. An STP of even a small amount will help build a decent equity portfolio in the long term. By the time you would have exhausted your debt portfolio, your equity portfolio would have grown to a decent amount which could be then transferred to debt funds and used for the rest of the retirement period.

Mutual Funds also offers an interesting feature of the Systematic Withdrawal Plan (SWP). This can be smartly used in your retirement planning for making withdrawals. An SWP will give you a set amount of money at regular intervals, say monthly, to meet your expenses. An SWP from mutual funds is a highly tax-efficient and convenient way of withdrawing your funds.

CONCLUSIONThe awareness of the need for retirement planning has increased in recent years. There are a large number of individuals who want to retire early, even as early as the late 40s. In such a case, the traditional age mark of 60 years no longer holds for many of us. Whatever may be the case, with sound planning, proper asset allocation and a bit of aggression can go a long way in making sure that your post-retirement years are self-sufficient and empowering for you.

Q) What is your overall assessment of the union budget for this fiscal? From the debt market perspective, what has been your key takeaways?Answer: The union budget has been positive from the debt market perspective with the government treading the fiscal consolidation path by targeting fiscal deficit of 3.3% of GDP as against 3.4% in the interim budget. In our assessment the revenue projections seem to be optimistic, backed by government’s intention to cover any shortfall through increased asset sales and non-tax revenues. The government borrowing plan has been kept unchanged and the proposal to borrow externally bodes well for the market. Our inference from the budget was that the government does not want to be fiscally loose and expects RBI to do much of the heavy lifting through monetary easing.

Q) How do you assess the NBFC issue today and the liquidity crunch in the market? Does the budget do enough to address these issues?Answer: The lifeline for any NBFC is refinancing ability. We think NBFCs are hurt due to lack of lending from the bankers due to (a) tight liquidity conditions in the early part of this calendar year, and (b) asset quality issues. As explicitly stated by the Monetary Policy Committee (MPC), expect RBI to monitor the situation and act accordingly. We expect the RBI to improve the banking system liquidity which could enable the flow of credit to the NBFCs.The budget has drawn concern over the NBFC issue. However, more concrete steps regarding access to capital as well as creation of demand - be it consumption or investment led - would have been desirable.

Q) Why have we seen so many downgrades and default events crop up lately in the debt market?Answer: The debt servicing by any entity depends on (a) its ability to create cash flows by improved productivity and (b) access to capital to refinance the existing debt.What we have noticed lately is that due to weakness in the economy, the productivity has collapsed and entities are working to meet their working capital requirement rather than creating positive cash flows. Further, tight liquidity conditions in the early part of the year coupled with crowding out of the investments by banks in favour of public sector units and quasi-PSU entities have led to reduced flow of capital to private entities.

Q) Please throw some light on the due-diligence process followed by your fund house for evaluating corporate papers and also promoter lending among other things.Answer: We at BNP Paribas believe that “we are investors and not lenders”. Our research effort focuses on the credit quality of issuers. The financial standing is determined based on the past financial performance and the expected future performance of the company, its operating environment and the economy in general.Thus, our investment process is designed towards following strict internal credit policies which derive comfort from operating cash flows, sector views and healthy financials with strong parentage.

Q) How can investors further reduce risks in their debt mutual fund portfolio? What strategy should they adopt in general?Answer: Fundamentally from an interest rate perspective, we expect the RBI to cut benchmark rates by 50 bps over the next 9-12 months. Add to it, RBI has been committed to providing liquidity to the banking system which bodes well for financial assets in a world where there is a lack of credit demand or perceived good credits.However, we expect the bulk of economic activity to be led by PSUs and with Banks comfortable with PSU credit. Most of the banking credit could move first to the public sector units. This could be followed by good quality corporates with strong parentage. Hence, these would be safer investments from a credit perspective.Thus, the strategy for a debt investor should be to invest in a portfolio where the credit quality is of foremost importance. Currently 2-5 year AAA curve is flat and elevated as compared to the operational repo rate. Thus, there is value in this part of the curve.

Q) What would you say to risk-averse retail investors who are looking to safely park their money in debt funds to build confidence?Answer: For risk averse investors who intend to park their money safely and also build confidence in the debt products, they should consider looking at money market funds with highest credit quality. Further, investors could avoid chasing high YTMs of the portfolio as it in turn could pose higher credit risk. Thus, the investors should consider choosing debt products where returns are generated by interest rate and market liquidity calls than passive credit calls.

Disclaimer: The views expressed above are author’s own views and not necessarily those of the AMC. The views expressed are based on internal data, publicly available information and other sources believed to be reliable. Any calculations made are approximations, meant as guidelines only, which you must confirm before relying on them. The information contained in this document is for general purposes only. The document is given in summary form and does not purport to be complete. The document does not have regard to specific investment objectives, financial situation or particular needs of any specific person who may receive this document. The information/ data herein alone is not sufficient and should not be used for the development or implementation of an investment strategy. The statements contained herein are based on our current views and involve known and unknown risks and uncertainties that could cause results, performance or events to differ materially from those expressed or implied in such statements. Past performance may or may not be sustained in future. Neither the AMC, the fund nor any person connected with them, accepts any liability arising from the use of this document. The AMC is not guaranteeing/offering/communicating any guaranteed returns on investments made in the scheme(s). The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible / liable for any decision taken on the basis of information contained herein.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY

FUND MANAGER INTERVIEWS

Mr. Anand Shah - Head - Investments and Deputy CEO

Anand Shah joined BNP Paribas Investment Partners (the successor of Fortis Investments and ABN AMRO Asset Management) in 2011. In his current role, he is the Chief Investment Officer and is responsible for managing the entire investment team, investment process and investment performance of all onshore portfolios managed and offshore mandates sub-advised by BNP Paribas Mutual Fund.

Prior to this, Anand was working with Canara Robeco as Head – Equities, from April2008 to March 2011. He was Co-Head Equities with ICICI Prudential Mutual Fund from Jan 2007 to April 2008. From May 2000 to Dec 2006, he was working with Kotak MF as senior portfolio manager.

Anand holds a Post Graduate Diploma in Management from Indian Institute of Management, Lucknow - Year 2000 and a B.E. degree from Regional Engineering College, Surat – Year 1996.

MF NEWS

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SIP RETURN AS ON 31ST JULY 2019

Starting - August Month of

Years

Invested Amount :

Schemes (Diversified Equity) Returns % - CAGR

2018

1

1,20,000

2016

3

3,60,000

2014

5

6,00,000

2012

7

8,40,000

2009

10

12,00,000

2004

15

18,00,000

MF industry average AUM inches close to ` 26 lakh crore in July

The average assets under management (AAUM) of the mutual fund industry reached close to ` 26 lakh crore in July 2019 despite declining equity markets. AMFI's latest data shows that AAUM of the MF industry has reached `25.81 lakh crore last month. However, the monthly AUM of industry stood at `24.53 lakh crore in July 2019. While AAUM is the average assets of the entire month and is calculated by factoring in all working days of the month, month end AUM is the assets of the industry as of the last working day of the month. Experts say that this was largely on account of healthy in�ows in liquid fund category as banks and institutional investors reinvested in these funds at the beginning of the quarter. Also, the growth has come largely because of higher in�ows in equity funds through SIPs, say experts. AMFI data shows that the monthly in�ows in mutual funds through SIP reached an all-time high of `8354 crore. Data shows that the industry mopped up close to `32,867 crore in the last four months through SIPs. Moreover, the MF industry had added close to 10 lakh SIP accounts each month on an average during the FY 2019-20, with an average SIP ticket size of about `3,000. Currently, the industry has 2.78 crore active SIP accounts.

MF Industry adds over 10 lakh folios in July, the highest in FY 2019-20

In July, the MF industry witnessed addition of 10.29 lakh folios, taking the aggregate folio count to 8.48 crore in July from 8.38 crore in June, shows AMFI data. At over 10 lakh new folios, July witnessed addition of new folios touching a multi-month high and was the highest in FY 2019-20. In June, the industry had witnessed a rise of 5.30 lakh folios. In April and May, the number was around 5.05 lakh folios. The increase in folios shows an even rosier picture for the MF industry, given the fact that it came in a month when the equity markets tanked.

NEWS UPDATESIP RETURN AS ON 31ST JULY 2019

Retail in�ation dips slightly to 3.15% in July despite costlier food items

The retail price in�ation rate inched down to 3.15 per cent in July against 3.18 per cent in the previous month, owing to a fall in energy prices, justifying the Reserve Bank of India's (RBI's) monetary policy committee's move to cut the policy rate for the fourth consecutive time. This was the �rst time in six months that the in�ation rate dipped. The marginal dip was despite the food in�ation rate rising slightly to 2.36 per cent from 2.25 per cent during this period, o�cial data showed.

India's factory output falls to 2% in June as manufacturing slows

Industrial output slowed to a 3-month low of 2 per cent in June compared to May's seven-month high of 4.5 per cent, as capital goods production contracted and overall manufacturing growth slipped. The growth rate was in line with the economist's expectations. The index of industrial production (IIP) had last contracted in March, and is expected to remain muted, owing to weak exports, rural distress, credit constraints and uncertainty over the election outcome, according to economists. Manufacturing output, which had risen by 4.5 per cent in May, took a hit in June, rising by only 1.2 per cent. The manufacturing segment constitutes the bulk of the IIP at 77.6 per cent.

Govt must raise expenditure on infra, focus on rural income: Experts

Industry players and experts want the government to raise its expenditure on infrastructure projects, elevate rural disposable incomes, address the crisis of non-banking �nancial companies, and prod banks to cut interest rates to put the economy back on track. Mohit Malhotra, chief executive o�cer, Dabur India, said there was a liquidity crunch in rural areas, leaving little money in the

hands of the rural consumer, a�ecting consumer staples. If government spending and a stimulus package can be provided to rural areas, they will go a long way in reviving consumer demand and growth in the sector.

PM Kisan Yojana: Govt to bring 100 mn farmers under coverage by year-end

The government aims to cover this year as many as 10 crore farmers under the PM-Kisan scheme, wherein they will be given Rs 6,000 annually in three equal instalments, Agriculture Minister Narendra Singh Tomar has said. Around 5.88 crore small farmers have so far received the �rst tranche of Rs 2,000 each under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) and 3.40 crore peasants have got the second instalment as well, he said. The scheme will cover all 14.5 crore farmers in the country, irrespective of the size of their landholding.

India's passenger vehicle sales drop at steepest pace in nearly two decades

India's domestic passenger vehicle sales in July dived at the steepest pace in nearly two decades, an auto industry body has said, as a �nancing crunch deepened a crisis in the country's autos sector and triggered large-scale job losses. Sales of passenger vehicles to car dealers plunged 30.9% to 200,790 in July, the ninth straight month of declines, data released by the Society of Indian Automobile Manufacturers (SIAM) showed. The drop in sales is the worst since December 2000, when the industry sold a �fth of the vehicles it sells currently.

63% banks report decline in NPA in infra sector in six months: Ficci-IBA

More banks are seeing a reduction in bad assets, especially in the sectors they had earlier quoted as high non-performing asset (NPA) sector, a recent survey by Ficci and IBA revealed. The ninth Ficci-IBA

survey in their report said the proportion of respondent banks citing a reduction in NPAs stood at 52 per cent as against 43 per cent in the previous round. About 55 per cent of reporting public sector banks (PSBs) have cited a reduction in NPA levels. According to the survey, sectors such as engineering, infrastructure and iron ore and steel, which were more prone to become dud assets, banks are now seeing NPA levels reduce in the last six months in these sectors.

India only Asian economy that's growing its export share amid trade war

The only major Asian economy that's grown its export share since the start of the tari� wars in 2018 is the one with the fewest trade links to China. India's share of world exports rose to 1.71 per cent in the �rst quarter of 2019 from 1.58 per cent in the fourth quarter of 2017, data compiled by Bloomberg show. The share of every other economy among Asia's 10 biggest exporting nations fell in the same period. Part of the reason for India's outperformance is that it's not as integrated into global manufacturing supply chains as peers, which means exporters are cushioned from rising trade tensions in the region.

O�ce space absorption may touch record 42 million sqft this year: Report

O�ce space absorption is likely to record a new high of nearly 42 million sqft by the end of 2019 mainly on the back of steady economic growth, a favourable policy environment and growing preference of global occupiers for Indian o�ces, a report said. According to a study by property consultant Knight Frank, the o�ce space absorption across seven cities including Delhi NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata grew 21 per cent during H1 2019 to 21.8 million as compared to 18.1 million sqft in corresponding period last year.

-13.66-0.684.062.352.602.410.60

-10.80-4.672.84-9.99

-10.40-2.73-7.13-3.88-4.33-1.51-5.46

-18.31-3.06-6.533.17

-12.657.44-1.224.12

-11.404.63-8.81-2.83

-13.415.15

-22.32-5.898.405.61-4.85

-15.94-2.22-9.05-2.11

-11.77-1.90

-19.42-6.09-5.04-5.25-1.05

-14.50-3.64-4.5013.60-22.32

140

-11.594.46-7.056.27-6.23-1.473.43-3.36-3.73-6.36-3.33-0.14-8.87-8.58-4.471.222.18-7.140.373.46-4.41-7.15

-14.48-5.72-7.851.10-6.52-1.83-5.34-3.596.27

-14.4829

4.411.86-3.20

-2.673.545.462.946.987.773.50-4.261.418.022.27-0.723.531.580.790.866.243.57-3.782.86-2.824.40-4.289.084.036.44-6.495.741.425.41-5.619.06

-13.501.026.085.960.44-2.921.22-1.382.01-3.242.88-9.58-0.143.224.614.95-6.092.961.5212.67-13.50

139

0.688.45-2.434.85-0.035.884.601.352.18-0.010.644.99-0.151.254.204.995.120.725.088.851.491.29-7.020.09-1.944.544.031.971.222.368.85-7.02

2910.598.454.51

5.91NA

6.603.9112.8110.736.802.208.0810.057.146.816.477.106.025.758.685.625.766.601.707.391.2310.907.478.030.739.329.638.972.859.49-3.617.757.947.445.204.123.452.376.073.074.51-2.783.746.016.906.880.904.945.8512.81-3.61135

6.079.942.246.484.757.448.684.855.664.415.347.294.056.347.638.438.256.227.24NANA

6.85-0.443.663.728.757.553.614.855.979.94-0.44

2710.439.347.71

14.11NA

9.276.5519.8714.49

NANANANA

10.0214.299.6511.6813.0810.6012.329.9716.1110.827.0211.495.8314.1212.0910.799.9113.7819.0112.3811.0810.857.3113.2911.509.8412.6010.716.576.139.237.707.05NA

7.618.5110.429.8610.467.81

10.7619.872.28125

11.7415.106.7610.808.9710.3512.979.0210.578.859.7511.52

NA11.1812.3512.3211.8210.3910.65

NANA

11.497.468.358.1012.9910.146.918.51

10.4215.106.7626

11.5310.8410.51

14.65NA

9.297.01NA

14.75NANANANA

10.1415.1610.0612.2013.7110.8012.5211.77

NA11.057.7312.216.6415.4912.4211.0212.5113.31

NA11.6112.799.909.2213.1811.8110.2313.6611.766.897.4210.118.55NANA

8.708.8111.3910.2212.739.16

11.3617.806.49109

12.13NA

7.6012.049.4610.9013.3310.1611.889.6610.8512.38

NA12.3313.0811.5811.4511.1110.51

NANA

12.1810.099.618.8613.2610.02

NA9.16

11.0413.337.6024

11.1510.6610.49

15.03NANA

7.69NANANANANANANANANA

11.15NA

13.23NANANANA

9.94NA

9.26NA

13.9312.77

NANANANA

15.5110.92

NA14.7212.5712.0613.7910.277.639.74NA

11.20NANANANANANANANA

12.1415.847.4143

12.67NA

8.30NANA

13.71NANA

13.5512.09

NA13.76

NANANANANANA

9.63NANA

11.64NA

11.7610.8713.16

NANANA

12.0413.768.3011NA

11.7011.45


Years

Invested Amount :

Schemes (Diversified Equity) Returns % - CAGRL&T Midcap Fund - GrLIC MF Large & Mid Cap Fund - GrLIC MF Large Cap Fund - GrLIC MF Multi Cap Fund - GrMirae Asset Emerging Bluechip Fund - GrMirae Asset Large Cap Fund - GrMotilal Oswal Focused 25 Fund - GrMotilal Oswal Midcap 30 Fund - GrMotilal Oswal Multicap 35 Fund - GrParag Parikh Long Term Equity Fund - Reg GrPrincipal Dividend Yield Fund - GrPrincipal Emerging Bluechip Fund - GrPrincipal Focused Multicap Fund - GrPrincipal Multi Cap Growth Fund - GrReliance Focused Equity Fund - GrReliance Growth Fund - GrReliance Large Cap Fund - GrReliance Multi Cap Fund - GrReliance Small Cap Fund - GrReliance Value Fund - GrReliance Vision Fund GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Focused Equity Fund - Regular Plan - GrSBI Large & Midcap Fund - DivSBI Magnum Equity ESG Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Small Cap Fund - GrSundaram Large & Midcap Fund - GrSundaram Mid Cap Fund - GrSundaram Select Focus - GrSundaram Small Cap Fund - GrTata Equity P/E Fund GrTata Large & Mid Cap Fund - Regular Plan - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Discovery (Midcap) Fund - GrTaurus Largecap Equity Fund - GrTaurus Starshare (Multi Cap) Fund - GrTempleton India Equity Income Fund - GrTempleton India Value Fund - GrUnion Multi Cap Fund - GrUnion Small Cap Fund - GrUTI Core Equity Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - GrUTI Master Share - GrUTI Mid Cap Fund - GrUTI Value Opportunities Fund - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseELSS / Tax Savings SchemesAditya Birla Sun Life Tax Relief 96 Fund - DivAxis Long Term Equity Fund - GrBaroda Elss 96 - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDSP Tax Saver Fund - GrEdelweiss Long Term Equity Fund (Tax Savings) - GrFranklin India Taxshield GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDBI Equity Advantage Fund - GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMirae Asset Tax Saver Fund - GrMotilal Oswal Long Term Equity Fund - GrPrincipal Tax Savings FundReliance Tax Saver Fund - GrSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUnion Long Term Equity Fund - GrUTI Long Term Equity Fund (Tax Saving) - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseS&P BSE SENSEX TRINIFTY 50 TRINIFTY 500 TRI

2018

1

1,20,000

2016

3

3,60,000

2014

5

6,00,000

2012

7

8,40,000

2009

10

12,00,000

2004

15

18,00,000

1,12,6351,14,2321,17,6761,20,8661,19,3281,11,8261,07,3241,06,4561,26,2351,21,9371,18,6111,25,4711,22,9611,19,8181,14,9261,18,7531,25,6621,16,2981,20,3351,14,4281,22,2871,15,8591,20,4681,19,3541,22,5191,09,5591,21,4441,18,9421,20,1411,17,0881,09,5611,19,3111,19,2741,20,5861,12,9861,18,5061,20,7741,16,0411,15,6981,15,2411,21,8261,16,2811,09,4301,12,9441,20,4991,18,5621,18,5151,12,4851,07,6831,20,8021,23,0341,14,0891,06,7731,19,7721,14,3091,18,3241,18,4271,15,1891,18,7591,18,7411,17,6031,14,6651,20,9671,15,8111,10,5711,18,3111,16,2911,09,0231,28,1991,20,3541,16,6581,18,1621,19,6341,11,9761,13,1221,16,1801,20,1921,22,9991,16,8741,19,9861,16,8351,20,3981,19,2881,12,1921,21,1861,06,8641,18,1601,22,3111,16,7401,15,2571,11,3911,19,5791,22,482

3,30,3833,46,2153,72,0673,83,3783,78,8583,31,7253,08,6993,06,8614,33,4894,08,7993,99,282

NA3,88,1463,76,1703,45,6543,63,4434,00,6083,45,1473,72,1793,43,7714,03,7193,71,5054,00,2263,71,8003,89,9353,21,2603,84,3173,72,6463,74,1113,60,1903,10,9823,73,3103,85,8173,97,4023,47,4403,89,1773,79,9193,64,6703,61,1983,63,0703,87,0823,60,0683,24,9733,64,2393,91,4043,59,0743,73,4743,45,1733,55,9793,95,5093,94,3613,52,7883,05,6463,91,1203,49,0903,76,0203,68,6863,54,3443,84,5983,42,8053,67,5373,57,4593,70,1613,64,8783,49,2903,81,3993,61,4013,39,6064,08,1303,89,5083,86,7863,90,3663,86,3953,57,8993,48,1723,72,8823,81,6033,89,6083,62,8353,83,5333,58,5313,81,3513,99,8873,30,5893,95,1913,35,6383,71,7513,90,5763,59,8713,55,6333,45,6483,79,6163,90,572

5,95,8696,67,8047,26,6027,16,1967,09,3356,38,6136,02,2896,14,1298,03,6927,94,6877,44,002

NA7,39,1766,79,9796,06,9246,65,7037,29,7666,52,0526,97,7576,26,6187,48,7637,41,8127,41,060

NA7,15,3055,85,1557,24,2077,24,8456,95,0097,11,6736,15,9146,84,4157,17,6107,35,2576,69,706

NA7,12,5106,70,9886,63,6886,76,9317,27,9046,98,0466,34,4676,97,0837,35,4666,65,5036,75,5816,77,8897,17,5137,42,6187,37,6716,60,3835,83,3867,37,5736,62,3176,90,1156,90,7696,73,6667,30,9536,33,1996,74,0746,53,1306,72,5656,99,3046,56,3627,00,8816,65,5276,58,875

NA7,31,7507,51,4687,41,5377,15,8866,81,7056,58,3607,33,2306,80,7227,50,1387,14,3227,08,3467,07,5407,30,8387,55,7376,40,2107,66,0047,03,0866,90,5057,13,8487,07,6256,68,4896,95,557

NA7,07,509

9,89,29812,22,30413,19,38212,36,49012,16,93311,88,89811,92,20511,72,08413,43,45213,50,78113,77,100

NANA

11,20,6299,10,29511,11,54012,49,37512,29,28012,17,16910,31,62912,27,25315,27,03912,26,044

NA12,02,098

NA12,46,26612,75,83211,96,89313,57,24613,07,27611,15,44512,15,75212,32,36413,09,420

NA11,67,05811,11,95111,64,45711,99,25613,67,28513,46,16312,90,87612,30,17312,61,91211,35,30410,63,65313,07,43712,90,47612,45,94412,02,49511,54,79511,32,29512,48,630

NA11,40,30511,57,55613,07,19312,80,98910,85,86412,50,106

NA11,28,55411,55,23110,59,26711,20,92911,94,71111,71,255

NA11,88,13713,85,30512,86,26512,06,30312,95,73412,44,57512,72,67611,18,49413,12,87512,55,26711,89,75113,88,51612,76,86912,58,50611,99,35913,78,358

NA11,81,93711,93,92213,62,86711,59,44313,83,807

NA11,65,416

16,72,44421,39,59923,35,60822,17,87921,68,67521,08,47122,45,46221,30,244

NANANANANANANA

18,11,06422,31,85324,32,23021,96,25317,04,778

NA30,44,97421,28,637

NA20,22,168

NA21,31,37022,34,575

NA25,06,10425,69,86418,70,84420,94,50521,61,00025,33,861

NANA

19,01,51620,63,80721,65,49925,63,49726,04,80225,96,65721,97,41121,86,70018,67,44417,37,20925,69,51922,99,95121,33,43219,77,75420,21,11819,17,67922,27,184

NA19,48,31020,36,29123,62,34522,59,43019,34,54923,80,777

NANA

19,37,94917,17,90718,65,34722,47,70521,41,516

NANA

24,60,39722,67,70020,64,22624,94,87424,49,38020,44,04918,08,07421,49,07420,05,66220,28,12825,79,65422,33,65121,65,86921,98,580

NANA

20,54,43120,43,816

NA20,83,97125,72,706

NA19,36,289

40,59,02845,75,37554,83,043

NA55,55,53453,20,759

NANANANANANANANANA

40,68,232NANANANANANANANA

44,80,489NA

54,88,96453,01,958

NANANA

45,70,940NANANANANA

45,59,217NA

54,17,892NA

61,03,952NA

53,36,12657,25,876

NA34,92,589

NANA

55,15,06641,99,16443,45,320

NANANANA

47,26,983NA

51,79,593NA

66,10,289NANANANANANANANANANANANANANANA

32,63,344NA

32,30,07546,24,588

NANANANANANANANANANA

61,61,321NANA


Years

Invested Amount :

Schemes (Diversified Equity) Investment Value e

SIP VALUE AS ON 31ST JULY 2019 NEWS UPDATE



















Aditya Birla Sun Life Dividend Yield Fund - GrAditya Birla Sun Life Equity Advantage Fund - GrAditya Birla Sun Life Equity Fund - GrAditya Birla Sun Life Focused Equity Fund - GrAditya Birla Sun Life Frontline Equity Fund - GrAditya Birla Sun Life Midcap Fund - GrAditya Birla Sun Life Pure Value Fund - GrAditya Birla Sun Life Small Cap Fund - GrAxis Bluechip Fund - GrAxis Focused 25 Fund - GrAxis MidCap Fund - GrAxis Multicap Fund - GrAxis Small Cap Fund - GrBaroda Large Cap Fund - GrBaroda Mid-cap Fund - GrBaroda Multi Cap Fund - Growth PlanBNP Paribas Large Cap Fund - GrBNP Paribas Midcap Fund - GrBNP Paribas Multi Cap Fund - GrBOI AXA Large & Mid Cap Equity Fund - Reg GrCanara Robeco Bluechip Equity Fund - GrCanara Robeco Emerging Equities Fund - GrCanara Robeco Equity Diversified Fund - GrDHFL Pramerica Diversified Equity Fund - GrDHFL Pramerica Large Cap Fund - GrDHFL Pramerica Midcap Opportunities Fund - GrDSP Equity Fund - Reg. Plan - DivDSP Equity Opportunities Fund - GrDSP Focus Fund - GrDSP Midcap Fund - Reg GrDSP Small Cap Fund - GrDSP Top 100 Equity Fund GrEdelweiss Large & Mid Cap Fund - Regular GrEdelweiss Large Cap Fund - GrEdelweiss Mid Cap Fund - Regular GrEdelweiss Multi-Cap Fund - GrEssel Large Cap Equity Fund - GrFranklin India Bluechip Fund GrFranklin India Equity Advantage Fund - GrFranklin India Equity Fund - GrFranklin India Focused Equity Fund - GrFranklin India Prima Fund GrFranklin India Smaller Companies Fund - GrHDFC Capital Builder Value Fund - GrHDFC Equity Fund - DivHDFC Focused 30 Fund - GrHDFC Growth Opportunities Fund - GrHDFC Mid Cap Opportunities Fund - GrHDFC Small Cap Fund - GrHDFC Top 100 Fund - DivHSBC Large Cap Equity Fund - GrHSBC Multi Cap Equity Fund - GrHSBC Small Cap Equity Fund - GrICICI Prudential Bluechip Fund - GrICICI Prudential Dividend Yield Equity Fund - GrICICI Prudential Focused Equity Fund - Retail GrICICI Prudential Large & Mid Cap Fund - GrICICI Prudential MidCap Fund - GrICICI Prudential Multicap Fund - GrICICI Prudential Smallcap Fund - GrICICI Prudential Value Discovery Fund GrIDBI Diversified Equity Fund - GrIDBI India Top 100 Equity Fund - GrIDFC Core Equity Fund - Regular Plan - GrIDFC Focused Equity Fund - Regular Plan - GrIDFC Large Cap Fund - Regular Plan - GrIDFC Multi Cap Fund - Regular Plan - GrIDFC Sterling Value Fund - Regular GrIIFL Focused Equity Fund - GrIndiabulls Blue Chip Fund - GrInvesco India Contra Fund - GrInvesco India Growth Opportunities Fund - GrInvesco India Largecap Fund - GrInvesco India Midcap Fund - GrInvesco India Multicap Fund - GrJM Core 11 Fund - Series 1 - Growth OptionJM Large Cap Fund - Growth OptionJM Multicap Fund - Growth OptionJM Value Fund - Growth OptionKotak Bluechip Fund - GrKotak Emerging Equity Scheme - GrKotak Equity Opportunities Fund - GrKotak India EQ Contra Fund - GrKotak Smallcap Fund - GrKotak Standard Multicap Fund - GrL&T Emerging Businesses Fund - GrL&T Equity Fund - GrL&T India Large Cap Fund - GrL&T India Value Fund - GrL&T Large and Midcap Fund - GrL&T Midcap Fund - GrLIC MF Large & Mid Cap Fund - GrLIC MF Large Cap Fund - Gr

2018

1

1,20,000

2016

3

3,60,000

2014

5

6,00,000

2012

7

8,40,000

2009

10

12,00,000

2004

15

18,00,000

SIP VALUE AS ON 31ST JULY 2019


Years

Invested Amount :

Schemes (Diversified Equity) Investment Value e

NEWS UPDATE



















DISCLAIMER: We have taken due care and caution in compilation of this booklet. The information has been obtained formvarious reliable sources. However it does not guarantee the accuracy, adequacy or completeness of any information and are not responsible for any errors or omissions of the results obtained from the use of such information. Investors shold seek proper financial advise regarding the appropriateness of investing in any of the schemes stated, discussed or recommended in this newsletter and should realise that thestatements regarding future prospects may or may not realise. Mutual fund investments are subject to market risks. Please read the offer document carefully before investing. Past performance is for indicative purpose only and is not necessarily a guide to the future performance.

1,21,4441,21,5971,21,4811,20,3711,13,2281,17,1021,21,7401,13,7421,13,4831,18,3141,15,5551,17,5991,17,3151,19,0651,16,6051,08,3571,18,1041,15,9361,21,9431,12,0381,24,5251,19,2501,22,5171,12,8461,22,8281,14,4971,18,2471,11,5531,23,1441,05,6921,16,3371,25,1041,23,4261,16,9901,09,9111,18,6301,14,3411,18,6951,12,6081,18,8261,07,6241,16,2141,16,8711,16,7411,19,3511,10,8481,17,7451,17,2041,28,1991,05,692

140

1,12,7201,22,7231,15,6081,23,8201,16,1251,19,0921,22,1021,17,9221,17,6901,16,0421,17,9401,19,9141,14,4541,14,6431,17,2251,20,7471,21,3351,15,5521,20,2251,22,1181,17,2661,15,5451,10,8581,16,4471,15,1011,20,6771,15,9441,18,8691,16,6811,17,7721,23,8201,10,858

291,22,6991,21,1401,18,017

3,76,2673,99,3534,04,0103,79,3823,37,3023,67,7344,05,4433,72,5263,56,1163,79,5823,68,6923,64,3363,64,6873,95,0703,79,7743,39,8273,75,8213,44,8373,84,5193,37,1794,11,7513,82,3663,96,1953,25,7883,92,1773,67,7883,90,2853,30,2844,11,5942,91,3663,65,5603,94,1183,93,4223,62,3963,44,3453,66,7053,52,5643,71,0683,42,6393,75,8933,10,2913,59,2143,77,8103,85,6713,87,6533,27,8693,76,3803,68,3744,33,4892,91,366

139

3,63,7304,08,0203,46,9423,87,0363,59,8133,92,9793,85,6093,67,4243,72,0233,59,9483,63,5233,87,8513,59,2043,66,8423,83,3323,87,8523,88,6113,63,9173,88,3624,10,3483,68,1573,67,0533,23,1163,60,4643,49,5473,85,2733,82,3893,70,8493,66,7073,72,9974,10,3483,23,116

294,20,8234,08,0023,85,142

6,61,8118,24,7347,83,7167,11,0086,34,0687,34,0177,70,6357,17,1487,11,3397,05,3377,16,4216,97,4986,92,8197,45,0666,90,5426,92,8987,07,5676,26,1297,21,6426,18,7517,86,8647,23,0717,33,0676,11,1347,56,9357,62,7257,50,3686,44,5097,59,9705,47,7727,27,9857,31,4477,22,4566,83,3806,65,2536,54,2536,36,6876,98,2636,48,0056,71,7155,59,4046,58,8846,97,2037,12,8627,12,5076,13,7506,79,0086,94,5628,24,7345,47,772

135

6,98,3337,68,4476,34,6457,05,4156,75,6947,22,5057,44,9006,77,3676,91,1876,69,9816,85,7267,19,7376,64,0727,03,0727,25,8437,40,3637,37,0637,00,8397,18,859

NANA

7,11,9805,93,4556,57,6656,58,6217,46,3727,24,4136,56,7446,77,5176,96,6977,68,4475,93,455

277,77,8487,57,2537,27,234

10,58,43416,97,15214,02,641

NANANANA

11,97,01713,92,83311,81,42512,69,51513,34,26512,21,99512,98,88911,94,88414,85,60912,31,52410,76,05812,61,23610,31,79913,84,28912,88,23312,29,90411,92,44813,67,68116,46,13713,01,69112,42,78712,32,87810,87,19613,44,14312,61,66111,89,18413,11,68012,26,66610,59,27310,42,94611,64,05411,02,58210,77,321

NA10,99,01611,34,60712,14,27211,90,31712,15,72711,06,59412,29,14316,97,1529,10,295

125

12,72,05114,33,35710,66,54412,30,46611,53,20312,11,25913,29,11611,55,13912,20,59511,48,32811,85,41612,62,307

NA12,47,31613,00,04412,98,76812,75,70012,12,91012,24,150

NANA

12,61,08110,93,15111,28,10411,18,00413,29,74112,01,99410,72,06811,34,73812,14,06014,33,35710,66,544

2612,62,85912,32,38712,18,064

17,17,837NA

25,85,561NANANANA

20,24,86026,43,89920,15,89622,57,81224,46,80720,95,79522,95,70522,06,684

NA21,24,67117,84,17622,58,63316,85,53926,89,81222,84,45121,21,04322,94,65423,95,338

NA21,87,74623,29,04619,98,90819,28,52523,78,16622,11,19120,33,63824,39,92022,05,37817,07,63917,54,88720,21,61218,62,209

NANA

18,76,89618,88,02621,62,70320,32,72323,22,67719,23,12521,59,54630,44,97416,72,444

109

22,48,838NA

17,71,29322,38,99319,52,87921,07,09223,96,96420,26,85822,20,03819,74,22021,02,17422,78,731

NA22,73,33823,65,36421,84,64821,69,82821,31,13820,64,526

NANA

22,55,34420,18,75519,68,79418,93,06823,87,99820,11,796

NA19,23,09121,23,57423,96,96417,71,293

2421,35,83420,80,53920,61,738

33,05,629NANANANANANANANANA

44,15,719NA

52,75,315NANANANA

39,88,537NA

37,65,382NA

56,01,86050,71,183

NANANANA

64,22,20143,29,852

NA59,98,85849,81,67447,71,21855,32,68540,99,04332,89,16339,20,970

NA44,34,753

NANANANANANANANA

48,04,64666,10,28932,30,075

43

50,27,362NA

34,78,019NANA

54,96,747NANA

54,20,06847,83,063

NA55,17,167

NANANANANANA

38,85,120NANA

46,02,901NA

46,52,40543,12,46252,43,862

NANANA

47,65,38055,17,16734,78,019

11NA

46,25,42645,29,952

LIC MF Multi Cap Fund - GrMirae Asset Emerging Bluechip Fund - GrMirae Asset Large Cap Fund - GrMotilal Oswal Focused 25 Fund - GrMotilal Oswal Midcap 30 Fund - GrMotilal Oswal Multicap 35 Fund - GrParag Parikh Long Term Equity Fund - Reg GrPrincipal Dividend Yield Fund - GrPrincipal Emerging Bluechip Fund - GrPrincipal Focused Multicap Fund - GrPrincipal Multi Cap Growth Fund - GrReliance Focused Equity Fund - GrReliance Growth Fund - GrReliance Large Cap Fund - GrReliance Multi Cap Fund - GrReliance Small Cap Fund - GrReliance Value Fund - GrReliance Vision Fund GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Focused Equity Fund - Regular Plan - GrSBI Large & Midcap Fund - DivSBI Magnum Equity ESG Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Small Cap Fund - GrSundaram Large & Midcap Fund - GrSundaram Mid Cap Fund - GrSundaram Select Focus - GrSundaram Small Cap Fund - GrTata Equity P/E Fund GrTata Large & Mid Cap Fund - Regular Plan - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Discovery (Midcap) Fund - GrTaurus Largecap Equity Fund - GrTaurus Starshare (Multi Cap) Fund - GrTempleton India Equity Income Fund - GrTempleton India Value Fund - GrUnion Multi Cap Fund - GrUnion Small Cap Fund - GrUTI Core Equity Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - GrUTI Master Share - GrUTI Mid Cap Fund - GrUTI Value Opportunities Fund - GrAverage Value of Above FundsMaximum ValueMinimum ValueUniverseELSS / Tax Savings SchemesAditya Birla Sun Life Tax Relief 96 Fund - DivAxis Long Term Equity Fund - GrBaroda Elss 96 - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDSP Tax Saver Fund - GrEdelweiss Long Term Equity Fund (Tax Savings) - GrFranklin India Taxshield GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDBI Equity Advantage Fund - GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMirae Asset Tax Saver Fund - GrMotilal Oswal Long Term Equity Fund - GrPrincipal Tax Savings FundReliance Tax Saver Fund - GrSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUnion Long Term Equity Fund - GrUTI Long Term Equity Fund (Tax Saving) - GrAverage Value of Above FundsMaximum ValueMinimum ValueUniverseS&P BSE SENSEX TRINIFTY 50 TRINIFTY 500 TRI

2018

1

1,20,000

2016

3

3,60,000

2014

5

6,00,000

2012

7

8,40,000

2009

10

12,00,000

2004

15

18,00,000

for private circulation only august 2019 managing finances ... · for private circulation only...

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