the - icici prudential mutual fund

FACT SHEET
Assets Under Management Rs. 34,158.02 Crore (As on August 31, 2006)
Past performance is no guarantee of future results. For Award details please see the back cover.
3
Nilesh Shah Chief Investment Officer
Fixed Income Market Snapshot Impact on Interest Rates
FACTORS Short Term Medium Term (1-3 Months) (3-6 Months)
INFLATION Neutral Neutral
Inflation for the week ended Aug 19 accelerated to 4.91%, higher than the market expectations. In its Annual report, the RBI kept the inflation forecast unchanged at 5.0- 5.5%. It warned that inflationary pressures remain due to incomplete pass-through of oil prices and the extreme volatility witnessed in the international crude prices over the last one year. We expect inflation to remain within the comfort zone of the RBI till year- end.
MONEY SUPPLY NEUTRAL NEGATIVE
Money Supply (M3) outstanding as on Aug 18, '06 was up 19.9% YoY at Rs.28.2 trillion, which is well above the RBI's projected rate of 15% for FY07. The money supply growth has been constantly on the higher side, which could be a cause of concern for the RBI when it announces its Monetary Policy Review in Oct '06. Higher fiscal spending has increased money supply in 1H FY07. We expect tighter liquidity in 2H FY07.
Credit Demand NEGATIVE NEGATIVE
The credit offtake continued unabated with credit-deposit ratio at around 70%. Non-food credit grew by 33% YoY, exceeding the central bank's target of 20% for the current financial year. There was a 54% jump in housing loans in the April-June '06 quarter, despite a 200 bps rise in lending rates over the last one year. Strong credit demand will keep pressure on liquidity in 2H FY07.
Government Borrowings NEUTRAL NEGATIVE
The Government auctioned Rs.17000 Cr of debt, as per the borrowing calendar. In addition to this, four Indian states raised State Development Loans worth Rs.1050 Cr at a cut-off yield of 8.11%. Rising fiscal deficit, which was at 52.3% of the budgetary estimate at the end of June'06, has been a cause of concern. The Ministry of Finance, however, has assured that the government would stick to its borrowing programme.
Foreign Exchange Market NEUTRAL NEUTRAL
The fall in crude prices and expectations of a pause in the US Fed's rate rising campaign allowed the rupee to strengthen during the month. Renewed buying by the FIIs also added to the positive market sentiment. We expect forex market to behave in an orderly fashion with no material impact on money markets.
RBI Policy NEUTRAL NEGATIVE
The Reserve Bank of India expects the growth momentum seen in recent years to continue in FY07. The RBI also reiterated that containing inflationary expectations would continue to pose a challenge to monetary management. We expect the RBI to maintain an interest rate stance, which will keep credit, especially for real estate and speculative business under check.
Market Sentiment POSITVE NEUTRAL
Indian bonds rose to their 3-month high as the yield of the 10-year G-Sec hit a low of 7.88%. Easy liquidity coupled softer yields on US Treasuries fueled the bullish sentiment. Heightened expectations that the RBI may leave interest rates unchanged on the back of US Fed pause ensured a bullish sentiment.
OUTLOOK
Most Central Banks across the globe have paused to assess the effect of the monetary tightening, for the fear of over-tightening. We expect the RBI to behave in line with global trends. We had recommended entry in income funds at 8.25%-8.50% yield on 10 year Gilt in the previous month. Although the rapid decline in yields was unexpected, we do not expect the rates to further decline from current level on a sustained basis. We recommend investors to invest in debt funds on an asset allocation basis for less volatile returns.
FACTORS
Fundamentals
India's exports grew faster at 35% y-o-y compared to imports that grew at 24% in July 2006 despite oil imports growing 33% y-o-y. Trade deficit increased marginally to $3.96 bn. FDI inflows in first four months are $1.74 bn, up 47% from last year. Quarterly IIP growth rate declined to 10.1% as mining and electricity showed lackluster growth. Manufacturing, on the other hand, clocked a healthy 10.5% growth y-o-y.
Monsoon was uneven with Western part of the country receiving excess rainfall and Eastern India showing below normal rainfall. The comforting factor was softer crude prices, down from the high of $78/bbl to $69 during the month backed by Lebanon cease fire and receding threat of hurricanes. Indian crude basket price also dropped to $65, down from an all time high of $75. in the first week of August.
Technicals
Market Sentiments
Sensex continued its northward journey clocking 8.9% gain over last month. The month started on a positive note with the US Fed pausing the interest rate hike. The positive sentiment continued as The FIIs continued aggressive buying absorbing the supply from domestic investors and IPOs. FII's were net buyers to the tune of $1.04 bn ($303 mn in July '06). MF's remained marginal buyers with net buying of $92 mn (- $17 mn in July '06). Roll- over was smooth at the month end as 72% of August contracts were rolled over to the September series.
Global Events
US markets rallied as data released during the week helped quell concern that the economy will suffer from a steep slowdown. Although, it wasn't strong enough to suggest growing inflationary pressures, it reinforced the view that economic expansion is moderating and may limit inflation. The housing sector, being the most interest rate sensitive, has shown clear signs of cooling off. The Bank of Japan kept the interest rates unchanged as it will watch the effect of the US slowdown. Nikkei and other Asian markets showed strong correlation with the US data, with export companies likely to get impacted by a suspected slowdown in the US. Fluctuations in Yuan during the month were the largest since its depeg against the dollar in July 2005. The ECB left its key lending rate unchanged, while maintaining that 'strong vigilance' is needed on inflation risks. The ECB has been trying to curb inflation that is forecast to exceed its 2% target.
OUTLOOK
Positive fundamentals like US Fed rate pause and softer crude along with liquidity drove the market last month. Going forward, the direction of the market would be determined by the outcome of next FOMC meeting, crude price trend and second quarter results. Also, as Q2FY07 draws to a close, investors will be ready to discount FY08 earnings. The IPO supply is building up with more than 200 IPOs in the pipeline. The valuations are above fair value on FY07 basis and prices look perfect.
Therefore our recommendation to investors is as follows;
In a fairly plus valued market, maintain little less than neutral allocation towards equities (Please refer "Guide to Asset Allocation").
Avg Daily Volumes(Rs. Cr.) Jul-06 Aug-06 CASH Segment BSE 2512 2718 NSE 5663 5946 Total 8175 8664 Derivative Segment NSE 22778 21348 BSE Total 22778 21348 Avg Advance Decline Ratio BSE Ratio 1.68 1.63 NSE Ratio 1.52 1.7
Sectoral Indices % change % change Performance Jun-Jul 06 July-Aug 06 BSE Metals -7.79 3.82 BSE FMCG -3.54 7.92 BSE Teck Index 4.69 9.08 BSE Healthcare 3.03 9.67 BSE PSU 2.06 9.98 BSE Capital Goods -0.24 10.04 BSE Auto -5.83 10.45 Bankex 9.93 11.02 BSE Consumer Durables -1.06 11.82 BSE Oil & Gas -4.59 12.12
Investments by Jul-06 Aug-06 Institutions (Rs. Crs.) FIIs (Net Purchases / Sales) 1394 4775 MFs (Net Purchases / Sales) -80 425 Avg Daily Open Interest Jul-06 Aug-06 (Rs. Cr.) Index Futures 7751 8610 Stock Futures 11815 13459 Index Options 4903 6913 Stock Options 1335 1740 Total 25804 30722
Valuation Ratios Jul-06 Aug-06
Dividend Yield-Sensex 1.43 1.36
Dividend Yield-Nifty 1.58 1.47
Performance Record *- Growth Option
*Returns < 1Year : Absolute, > = 1Year : CAGR Benchmark is ^Nifty Junior Index. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future.
PruICICI Fusion Fund Diversified Fund (Close - Ended)
Snapshot: Fund Manager : Anil Sarin Indicative Investment Horizon: 5 yrs and more Inception date: 25-03-2006 Fund Size: Rs. 591.71 crores NAV (As on 31-Aug-06):
Growth option : Rs. 10.10 Dividend option : Rs. 10.10
**Expense Ratio for the month of Aug'06: Retail option : 2.12% Institutional option-I : 1.00%
**This is a close approximation of the number.
Style Box
Large
Mid
Small
*Pertains to the equity investments only.
WHY SHOULD ONE INVEST? Exploit the long-term investment potential of equity
Portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto Ancillaries 2,301.01 3.90%
• Amtek India Ltd 1,890.53 3.20% Rico Auto Industries Ltd 310.74 0.53% Sundram Fastners Ltd 99.74 0.17% Banks 106.36 0.18% Punjab National Bank Ltd 106.36 0.18% Cement 160.68 0.27% Ramco Industries Ltd 160.68 0.27% Construction 6,794.19 11.49%
• Mahindra Gesco Developers Ltd 2,849.03 4.81% IVRCL Infrastructure & Projects Ltd 855.10 1.45% Orbit Corporation Ltd 843.75 1.43% Jai Prakash Associates Ltd 770.18 1.30% Unity Infraprojects Ltd 755.20 1.28% Ansal Housing & Construction Ltd 720.93 1.22% Consumer Non-Durable 3,171.56 5.36%
• ITC Ltd 2,106.50 3.56% Triveni Engineering & Industries Ltd 634.60 1.07% Synergy Multibase Ltd 347.46 0.59% Shrenuj & Company Ltd 83.00 0.14% Ferrous Metals 1,570.81 2.65% Kalyani Steels Ltd 1,570.81 2.65% Industrial Capital Goods 5,349.42 9.04%
• Aban Lloyd Chiles Offshore Ltd 2,357.58 3.98% Bharat Earth Movers Ltd 1,111.84 1.88% Bharat Bijlee Ltd 817.10 1.38% Jyoti Ltd 631.40 1.07% Gei Hamon Industries Ltd 431.50 0.73% Industrial Products 4,539.47 7.68%
• Jain Irrigation Systems Ltd 2,939.48 4.97% AIA Engineering Ltd 868.24 1.47% Enkei Castalloy Ltd 731.75 1.24% Media & Entertainment 3,575.08 6.04%
• Deccan Chronicle Holdings Ltd 2,645.34 4.47% Jagran Prakashan Pvt Ltd 830.77 1.40% Crest Communication Ltd 98.97 0.17% Pesticides 1,989.14 3.36% United Phosphorus Ltd 1,278.39 2.16% Rallis India Ltd 710.75 1.20% Petroleum Products 4,145.99 7.01%
• Reliance Industries Ltd 4,145.99 7.01% Pharmaceuticals 5,123.20 8.66%
• Elder Pharmaceuticals Ltd 2,536.81 4.29% • Cadila Healthcare Ltd 2,026.58 3.42%
Torrent Pharmaceuticals Ltd 559.81 0.95% Software 4,922.46 8.32%
• Zenith Infotech Ltd 2,115.46 3.58% Subex Systems Ltd 1,240.30 2.10% Megasoft Ltd 1,161.90 1.96% Mphasis BFL Software Ltd 404.80 0.68% Textiles - Products 2,593.78 4.38% Siyaram Silk Mills Ltd 1,384.85 2.34% Kewal Kiran Clothing Ltd 1,208.93 2.04% Textiles - Synthetic 46.35 0.08% Sarla Polyester Ltd 46.35 0.08% Transportation 18.01 0.03% Shreyas Shipping Ltd 18.01 0.03% Nifty Futures 3,841.35 6.49% Term Deposits 2,165.20 3.66% ICICI Bank 2,165.20 3.66% Cash, Call, CBLO & Reverse Repo 8,538.93 14.43% Other Current Assets (1,781.90) -3.03% Total Net Assets 59,171.09 100.00%
• Top Ten Holdings
Sector Allocation*
Quantitative Indicators:
Average P/E : 23.98 Average Dividend Yield : 0.59 Average P/BV : 4.69 Annual Portfolio Turnover Ratio : 0.96 times Portfolio turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions.
Do not try to time the market, as the market may remain volatile for some more time.
Both - the economy and the corporate sector are doing well but the valuations are rich and do not leave any scope for disappointment.
Asset allocation and systematic investment plans are the best way to safeguard against volatility. They ensure optimal returns and not the maximum return in volatile markets.
Mid cap stocks are attractively priced when compared to their large cap peers. So, investing in select mid-caps is advised.
MARKET CHEAP ATTRACTIVE FAIR
Over Invested Neutral +
Valuation levels of the Sensex based n FY07 earnings estimate of Rs.650 Suggested Equity Allocation (Assuming 50% equity allocation as neutral)
8000
9000
10000
11000
12000
13000
STRETCHED 19X -20X
1.00%
-6.12%-7.00% -6.00% -5.00% -4.00% -3.00% -2.00% -1.00% 0.00% 1.00% 2.00%
Since Inception
11.49% 9.04%
8.66% 8.32%
7.68% 7.01%
6.04% 5.36%
4.38% 3.90%
3.36% 2.65%
Textiles - Products Auto Ancillaries
Textiles - Synthetic Transportation
Investors should look at a mix of large and mid cap funds for 3-5 years horizon on systematic investment basis.
We expect markets to display higher volatility as IPO supply creates pressure on demand.
Asset Allocation Guide
This asset allocation guide helps you to determine the suggested equity exposure at different valuations levels based on the Sensex.
5
SIP Returns: As on 31 Aug, 2006
Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns
1 Year SIP 30-Sep-05 12,000.00 202.77 13,932.33 37.09% 3 Year SIP 30-Sep-03 36,000.00 978.61 67,240.29 47.57% 5 Year SIP 28-Sep-01 60,000.00 2,890.26 198,589.76 51.51% Since Inception 1-Oct-94 144,000.00 11,879.47 816,238.38 26.79%
Fund Manager's Comment
The fund maintained increased its average equity exposure to 90%, compared to 82% last month. Exposure to Auto was increased, with the festival season approaching and likelihood of sales picking up. Holdings in Cement and construction companies were increased with the building activity picking up as the monsoon draws to a close. The Fund also increased positions in Pharma- ceuticals, Software and Media. The fund booked profits in banks and finance stocks.
PruICICI Power Diversified Fund
Snapshot:
Fund Manager : Anil Sarin Indicative Investment Horizon: 5 yrs & more Inception date: 01-10-1994 Fund Size: Rs. 1,400.10 crores NAV (As on 31-Aug-06):
Cumulative option: Rs. 68.71 Dividend option : Rs. 18.62
**Expense Ratio for the month of Aug'06: Retail option : 2.11% Institutional option- I : 1.00%
WHY SHOULD ONE INVEST? Long term investment of funds for capital appreciation
in a concentrated multi sector portfolio
Performance Record* - Cumulative Option
Rs. 10000 invested at inception: Power Plan Vs S&P CNX Nifty
CAGR – Power :17.54%; Benchmark : 8.50% Past performance may or may not be sustained in future.
Sector Allocation*
*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
Average P/E : 17.14 Average P/BV : 3.39 Average Dividend Yield : 1.05 Annual Portfolio Turnover Ratio : 2.16 times
Portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box
Figures as on 31-Aug, 2006
Portfolio turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the JP Morgan 3 month T-Bill Index.
Auto 8,453.12 6.04% • Maruti Udyog Ltd 4,913.14 3.51%
Mahindra & Mahindra Ltd 3,539.98 2.53% Auto Ancillaries 2,768.95 1.98% Amtek Auto Ltd 2,768.95 1.98% Banks 12,385.21 8.84%
• State Bank of India Ltd 5,298.74 3.78% • Punjab National Bank Ltd 4,056.64 2.90%
Bank of Baroda Ltd 2,344.98 1.67% Kotak Mahindra Bank Ltd 684.85 0.49% Cement 12,467.93 8.91%
• Grasim Industries Ltd 4,165.51 2.98% Century Textiles & Industries Ltd 3,015.95 2.15% Associated Cement Companies Ltd 2,491.91 1.78% JK Cements Ltd 2,364.31 1.69% Ambuja Cement Eastern Ltd 430.25 0.31% Construction 2,615.10 1.86% Jai Prakash Associates Ltd 2,569.01 1.83% Patel Engineering Ltd 46.09 0.03% Consumer Non-Durable 8,399.24 6.01%
• ITC Ltd 3,849.97 2.75% Triveni Engineering & Industries Ltd 2,319.23 1.66% Ruchi Soya Industries Ltd 1,157.84 0.83% Balrampur Chini Mills Ltd 1,072.20 0.77% Ferrous Metals 3,145.00 2.24% Jindal Steel & Power Company Ltd 1,854.71 1.32% Usha Martin Ltd 1,290.29 0.92% Finance 257.93 0.18% Housing Development Finance Corporation Ltd 257.93 0.18% Industrial Capital Goods 17,537.14 12.53%
• Bharat Heavy Electricals Ltd 3,804.52 2.72% Bharat Electonics Ltd 3,465.04 2.47% Siemens India Ltd 2,949.85 2.11% Thermax Ltd 2,817.96 2.01% Larsen & Toubro Ltd 2,403.75 1.72% Bharat Earth Movers Ltd 2,096.02 1.50% Industrial Products 4,484.30 3.20% AIA Engineering Ltd 2,615.45 1.87% Jain Irrigation Systems Ltd 1,868.85 1.33% Media & Entertainment 5,779.52 4.12%
• Deccan Chronicle Holdings Ltd 3,674.26 2.62% Zee Telefilms Ltd 2,105.26 1.50% Non-Ferrous Metals 2,903.06 2.08% Hindalco Industries Ltd 2,137.08 1.53% Sterlite Industries (India) Ltd 765.98 0.55% Oil 1,388.06 0.99% Oil & Natural Gas Company Ltd 1,388.06 0.99% Paper 1,864.99 1.33% Ballarpur Industries Ltd 1,864.99 1.33% Pesticides 3,062.75 2.19% United Phosphorus Ltd 3,062.75 2.19% Petroleum Products 11,117.58 7.94%
• Reliance Industries Ltd 11,117.58 7.94% Pharmaceuticals 4,243.88 3.03% Plethico Pharmaceuticals Ltd 1,515.78 1.08% Dr. Reddys Laboratories Ltd 1,444.70 1.03% Wyeth Lederle Ltd 1,283.40 0.92% Power 3,135.65 2.24% National Thermal Power Corporation Ltd 1,997.05 1.43% PTC India Ltd 1,138.60 0.81% Software 9,196.86 6.57%
• Tata Consultancy Services Ltd 3,712.19 2.65% HCL Technologies Ltd 3,468.61 2.48% Infosys Technologies Ltd 1,870.92 1.34% Tech Mahindra Ltd 145.14 0.10% Textiles - Products 4,414.41 3.16% Aditya Birla Nuvo Ltd 2,374.84 1.70% Raymond Ltd 2,039.57 1.46% Transportation 5,542.76 3.96%
• Great Eastern Shipping Co. Ltd 3,651.54 2.61% Containers Corporation of India Ltd 1,891.22 1.35% Nifty Futures 1,532.45 1.09% Term Deposits 2,400.00 1.71% ICICI Bank 2,400.00 1.71% Cash, Call, CBLO & Reverse Repo 14,445.67 10.32% Other Current Assets (3,531.11) -2.52% Total Net Assets 140,010.45 100.00%
Std Dev : 7.34 Sharpe Ratio^ : 0.41 Portfolio Beta : 0.97 R squared : 0.85
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2001, 2003 & 2005.
10.36%
Last 6 Months
Last 1 years
Last 3 years
Last 5 years
Rs 68710.00
Rs 25953.726,056 16,056 26,056 36,056 46,056 56,056 66,056 76,056 86,056
O ct
-9 4
Ju l-9
12.53%
Oil
Finance
6
SIP Returns: As on 31 Aug, 2006 Period SIP Start Date Total Amount Total No. Market Value SIP
Invested of Units Returns
1 Year SIP 30-Sep-05 12,000.00 265.93 14,052.51 39.53% 3 Year SIP 30-Sep-03 36,000.00 1,360.95 71,916.54 53.32% Since Inception 31-Oct-02 47,000.00 2,316.20 122,394.72 54.73%
Fund Manager's Comment The fund maintained increased its average equity exposure to 91%, compared to 82% last month. Holdings in Banks, Pharmaceuticals, Construction, Media and Capital Goods were increased significantly. The fund booked some profits in Auto, Ferrous and Non-Ferrous Metals.
Quantitative Indicators: Average P/E : 17.90 Average P/BV : 3.43 Average Dividend Yield : 0.97 Annual Portfolio Turnover Ratio : 2.28 times
Portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAVSnapshot:
Fund Manager : Anil Sarin Indicative Investment Horizon: 3 yrs & more Inception date: 31-10-2002 Fund Size: Rs. 1,137.00 crores NAV (As on 31-Aug-06):
**Expense Ratio for the month of Aug'06: 2.03%
WHY SHOULD ONE INVEST? Medium term investment of funds for capital appreciation
by managing cash and equity portfolio
Auto 5,012.44 4.41% • Mahindra & Mahindra Ltd 2,621.33 2.31%
Maruti Udyog Ltd 2,391.11 2.10% Auto Ancillaries 2,834.66 2.49%
• Amtek Auto Ltd 2,834.66 2.49% Banks 10,300.13 9.06%
• State Bank of India Ltd 4,010.95 3.53% Bank of Baroda Ltd 2,506.50 2.20% Punjab National Bank Ltd 2,291.44 2.02% ICICI Bank Ltd 1,491.24 1.31% Cement 11,864.83 10.45%
• Grasim Industries Ltd 3,498.36 3.08% Century Textiles & Industries Ltd 2,514.47 2.21% Associated Cement Companies Ltd 1,896.41 1.67% Orient Paper & Industries Ltd 1,644.99 1.45% Shree Cement Ltd 1,418.05 1.25% Hyderabad Industries Ltd 892.55 0.79% Construction 3,672.49 3.23% Jai Prakash Associates Ltd 1,949.21 1.71% IVRCL Infrastructure & Projects Ltd 1,193.68 1.05% Patel Engineering Ltd 529.60 0.47% Consumer Non-Durable 8,418.80 7.41%
• ITC Ltd 2,889.51 2.54% Triveni Engineering & Industries Ltd 2,208.09 1.94% E.I.D. Parry (India) Ltd 2,063.73 1.82% Balrampur Chini Mills Ltd 893.50 0.79% Uttam Sugar Mills Ltd 363.97 0.32% Ferrous Metals 1,273.06 1.12% Mukand Ltd 1,273.06 1.12% Fertilizers 933.58 0.82% Coromandel Fertilisers Ltd 933.58 0.82% Hotels 360.25 0.32% Viceroy Hotels Ltd 360.25 0.32% Industrial Capital Goods 9,677.77 8.51% Kalpataru Power Transmission Ltd 2,053.39 1.81% Larsen & Toubro Ltd 2,048.55 1.80% Texmaco Ltd 1,950.35 1.72% Bharat Earth Movers Ltd 1,870.20 1.64% Siemens India Ltd 1,545.58 1.36% Lokesh Machines Ltd 209.70 0.18% Industrial Products 8,292.36 7.29%
• Jain Irrigation Systems Ltd 3,504.08 3.08% AIA Engineering Ltd 2,456.83 2.16% Sterlite Optical Technologies Ltd 2,331.45 2.05% Media & Entertainment 8,509.77 7.48%
• Deccan Chronicle Holdings Ltd 6,027.63 5.30% Zee Telefilms Ltd 2,482.14 2.18% Non-Ferrous Metals 1,571.54 1.38% Sterlite Industries (India) Ltd 1,441.32 1.27% Hindalco Industries Ltd 130.22 0.11% Oil 1,217.60 1.07% Oil & Natural Gas Company Ltd 1,217.60 1.07% Petroleum Products 8,829.36 7.77%
• Reliance Industries Ltd 8,829.36 7.77% Pharmaceuticals 1,312.72 1.16% Dr. Reddys Laboratories Ltd 1,245.33 1.10% Plethico Pharmaceuticals Ltd 67.39 0.06% Power 2,069.55 1.82% Reliance Energy Ltd 2,069.55 1.82% Software 12,230.14 10.75%
• HCL Technologies Ltd 3,871.80 3.41% Infosys Technologies Ltd 2,471.66 2.17% Subex Azure Ltd 2,153.71 1.89% Mastek Ltd 1,570.11 1.38% Tata Consultancy Services Ltd 1,330.26 1.17% Mphasis BFL Software Ltd 720.21 0.63% Tech Mahindra Ltd 112.39 0.10% Telecom Services 1,879.43 1.65% Videsh Sanchar Nigam Ltd 1,879.43 1.65% Transportation 3,214.61 2.83%
• Great Eastern Shipping Co. Ltd 3,214.61 2.83% Term Deposits 2,101.00 1.85% ICICI Bank 2,101.00 1.85% Cash, Call, CBLO & Reverse Repo 9,875.72 8.69% Other Current Assets (1,751.60) -1.56% Total Net Assets 113,700.21 100.00%
Performance Record *- Cumulative Option
Rs. 10000 invested at inception: Dynamic Plan Vs S&P CNX Nifty
CAGR – Dynamic Plan: 54.35%; Benchmark : 39.53% Past performance may or may not be sustained in future.
Sector Allocation*
Style Box
14.31%
Last 6 Months
Rs 52842.90
Rs 35882.91
10.75%
10.45%
9.06%
8.51%
7.77%
7.48%
7.41%
7.29%
4.41%
3.23%
2.83%
2.49%
1.82%
1.65%
1.38%
1.16%
1.12%
1.07%
0.82%
0.32%
7
15.97%
9.03%
7.50%
6.35%
6.21%
5.27%
5.10%
4.64%
4.39%
3.88%
3.78%
3.30%
3.27%
2.21%
2.20%
2.19%
2.17%
1.86%
1.44%
1.43%
1.25%
0.82%
0.69%
0.23%
Pharmaceuticals
Non-Ferrous
Software
Gas
Fund Manager's Comment The fund maintained an average equity exposure of 95% during the month. Holdings in Non-Ferrous Metals were further reduced this month, while positions in Domestic Pharma, Transportation and Textile Products stocks were substantially increased. The fund booked profits in Auto Ancillaries, Banks, Cement, Oil and Petroleum stocks.
1 Year SIP 30-Sep-05 12,000.00 543.74 13,653.31 31.49% Since Inception 16-Aug-04 26,000.00 1,648.72 41,399.36 51.40%
Rs. 10000 invested at inception: Discovery Fund Vs S & P CNX Nifty
CAGR – Discovery Plan : 57.00%; Benchmark : 45.00% Past performance may or may not be sustained in future.
Average P/E :12.44 Average P/BV : 2.41 Average Dividend Yield : 1.62 Annual Portfolio Turnover Ratio : 2.48 times
Portfolio
PruICICI Discovery Fund Diversified Fund
Snapshot: Fund Manager : Sankaran Naren Indicative Investment Horizon: 5 yrs and more Inception date: 16-08-2004 Fund Size: Rs. 1,107.47 crores NAV (As on 31-Aug-06):
Growth option: Rs. 25.11 Dividend option: Rs. 19.21
following value investment philosophy
Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box
*Returns < 1Year : Absolute, > 1Year : CAGR Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future.
Auto 4,302.26 3.88% Maruti Udyog Ltd 3,014.73 2.72% Bajaj Auto Ltd 1,287.53 1.16% Auto Ancillaries 8,311.18 7.50%
• Kesoram Industries Ltd 3,800.00 3.43% • Exide Industries Ltd 3,509.00 3.17%
India Nippon Elect Ltd 1,002.18 0.90% Banks 7,037.85 6.35% Andhra Bank Ltd 3,067.75 2.77% State Bank of India Ltd 2,328.13 2.10% Punjab National Bank Ltd 1,641.97 1.48% Cement 5,655.87 5.10% Century Textiles & Industries Ltd 3,015.95 2.72% Birla Corporation Ltd 1,827.80 1.65% Orient Paper & Industries Ltd 812.12 0.73% Chemicals 2,054.45 1.86% India Glycols Ltd 2,054.45 1.86% Consumer Non-Durable 10,003.46 9.03% Tata Tea Ltd 2,487.29 2.25% E.I.D. Parry (India) Ltd 2,206.75 1.99% Sakthi Sugars Ltd’ 1,707.75 1.54% Rajshree Sugars & Chemicals Ltd 1,277.10 1.15% Nirma Ltd 1,166.73 1.05% Ruchi Soya Industries Ltd 1,157.84 1.05% Ferrous Metals 3,618.60 3.27%
• Jindal Steel & Power Company Ltd 3,618.60 3.27% Fertilizers 5,841.14 5.27%
• Gujarat State Fertilisers & Chemicals Ltd 3,513.00 3.17% DCM Shriram Consolidated Ltd 1,665.55 1.50% Zuari Industries Ltd 662.59 0.60% Gas 260.05 0.23% Gas Authority of India Ltd 260.05 0.23% Hardware 2,448.00 2.21% HCL Infosystems Ltd 2,448.00 2.21% Industrial Capital Goods 2,419.29 2.19% Kirloskar Oil Engines Ltd 1,260.39 1.14% Bharat Electonics Ltd 1,158.90 1.05% Industrial Products 1,395.27 1.25% Finolex Cables Ltd 813.71 0.73% MM Forgings Ltd 477.08 0.43% Jindal Poly Films Ltd 104.48 0.09% Non-Ferrous Metals 904.69 0.82% Nav Bharat Ventures Ltd 904.69 0.82% Oil 3,652.80 3.30%
• Oil & Natural Gas Company Ltd 3,652.80 3.30% Paper 4,856.57 4.39% JK Paper Ltd 2,210.30 2.00% Tamil Nadu Newsprint & Papers Ltd 2,142.29 1.93% Seshashayee Paper & Boards Ltd 503.98 0.46% Pesticides 1,590.97 1.44% Rallis India Ltd 1,590.97 1.44% Petroleum Products 4,181.84 3.78% Cochin Refineries Ltd 2,246.96 2.03% IBP Company Ltd 1,934.88 1.75% Pharmaceuticals 17,690.48 15.97%
• Aventis Pharma Ltd 6,591.97 5.95% • Cadila Healthcare Ltd 5,360.00 4.84% • Ipca Laboratories Limited 3,267.81 2.95%
Novartis India Ltd 1,406.95 1.27% FDC Ltd 1,063.75 0.96% Power 2,409.79 2.17% Gujarat Industries Power Company Ltd 1,532.89 1.38% Reliance Energy Ltd 876.90 0.79% Software 764.41 0.69% Mastek Ltd 656.51 0.59% Tech Mahindra Ltd 107.90 0.10% Textiles - Cotton 1,588.19 1.43% Mahavir Spinning Mills Ltd 1,510.40 1.36% Vardhaman Spinning & General Mills Ltd 77.79 0.07% Textiles - Products 6,869.70 6.21%
• Raymond Ltd 4,530.75 4.09% Aditya Birla Nuvo Ltd 1,756.40 1.59% Gokaldas Exports Ltd 582.55 0.53% Textiles - Synthetic 2,428.93 2.20% SRF Ltd 1,890.80 1.71% Nahar Spinning Mill Ltd 538.13 0.49% Transportation 5,149.49 4.64%
• Great Eastern Shipping Co. Ltd 3,383.13 3.05% Containers Corporation of India Ltd 1,766.36 1.59% Term Deposits 1,295.00 1.17% ICICI Bank 1,295.00 1.17% Cash, Call, CBLO & Reverse Repo 2,488.50 2.25% Other Current Assets 1,528.45 1.40% Total Net Assets 110,747.23 100.00%
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2004 & 2005.
12.20%
36.25%
57.00%
11.03%
Rs 25110.00
8
Fund Manager’s Comment The fund maintained an average equity exposure of 91% during the month. Exposure to Software, Media and Pharmaceuticals was increased. The fund continues to be bullish on domestic mid-cap pharma, technology mid-caps and capital goods. The fund booked profits in Auto Ancillaries, Cement and Construction. Holdings in Ferrous Metals were trimmed further.
Sector Allocation*
*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is Nifty Junior. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future.
SIP Returns: As on 31 Aug 2006 Period SIP Start Date Total Amount Total No. Market Value SIP
1 Year SIP 30-Sep-05 12,000.00 571.55 13,105.64 20.72% Since Inception 28-Oct-04 24,000.00 1,558.95 35,746.72 47.77%
Portfolio turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions.
^ Risk-free rate based on the JP Morgan 3 month T-Bill Index.
Portfolio
WHY SHOULD ONE INVEST? Long term investment of funds for
capital appreciation on a mid-cap portfolio
Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box Figures as on 31-Aug, 2006
PruICICI Emerging S.T.A.R. Fund Diversified Fund
Auto Ancillaries 5,169.15 5.60% Amtek Auto Ltd 2,186.87 2.37% Bosch Chassis Systems India Ltd 1,698.45 1.84% Amtek India Ltd 591.32 0.64% Talbros Automotive Components Ltd 292.52 0.32% Sundram Fastners Ltd 223.89 0.24% Munjal Auto Industries Ltd 176.10 0.19% Banks 2,581.21 2.80% Andhra Bank Ltd 1,361.20 1.48% Syndicate Bank Ltd 1,220.01 1.32% Cement 8,017.22 8.69% Ramco Industries Ltd 1,930.34 2.09% India Cements Ltd 1,606.80 1.74% Century Textiles & Industries Ltd 1,206.60 1.31% Birla Corporation Ltd 896.95 0.97% Orient Paper & Industries Ltd 844.77 0.92% OCL India Ltd 761.20 0.83% Hyderabad Industries Ltd 425.81 0.46% Chettinad Cements Ltd 344.75 0.37% Chemicals 635.36 0.69% Beck India Ltd 635.36 0.69% Construction 2,761.34 3.00%
• Patel Engineering Ltd 2,357.25 2.56% Sunil Hitech Engineers Ltd 227.80 0.25% Mahindra Gesco Developers Ltd 176.29 0.19% Consumer Durables 3,159.53 3.42%
• Lloyd Electric & Engineering Ltd 2,547.56 2.76% Fedders Lloyd Corporation Ltd 611.97 0.66% Consumer Non-Durable 5,366.83 5.82% Tata Tea Ltd 1,852.31 2.01% Mirza International Ltd 1,476.88 1.60% Triveni Engineering & Industries Ltd 1,125.19 1.22% Uttam Sugar Mills Ltd 896.64 0.97% Shrenuj & Company Ltd 15.81 0.02% Ferrous Metals 4,533.85 4.92% Mukand Ltd 1,743.35 1.89% Kalyani Steels Ltd 835.20 0.91% Adhunik Metaliks Ltd 661.45 0.72% Raipur Alloys & Steel Ltd 357.05 0.39% Kamdhenu Ispat Ltd 335.65 0.36% Gallantt Metal Ltd 306.61 0.33% Usha Martin Ltd 294.54 0.32% Industrial Capital Goods 12,317.98 13.36%
• Aban Lloyd Chiles Offshore Ltd 3,073.22 3.33% • Kalpataru Power Transmission Ltd 2,225.22 2.41%
Bharat Earth Movers Ltd 1,776.23 1.93% RPG Transmission Ltd 1,489.10 1.62% Stone India Ltd 1,371.50 1.49% Crompton Greaves Ltd 1,087.00 1.18% Thermax Ltd 794.49 0.86% Indo Tech Transformers Ltd 501.22 0.54% Industrial Products 9,179.20 9.95%
• Sintex Industries Ltd 2,481.90 2.69% • Sterlite Optical Technologies Ltd 2,277.63 2.47%
Graphite India Ltd 1,819.30 1.97% AIA Engineering Ltd 1,408.76 1.53% Finolex Cables Ltd 695.38 0.75% Shree Ganesh Forgings Ltd 268.66 0.29% Shivam Autotech Ltd 227.57 0.25% Media & Entertainment 5,168.51 5.61%
• Deccan Chronicle Holdings Ltd 3,809.75 4.13% Jagran Prakashan Pvt Ltd 753.87 0.82% Prime Focus Ltd 604.89 0.66% Non-Ferrous Metals 719.37 0.78% Nav Bharat Venture Ltd 719.37 0.78% Paper 1,306.34 1.42% Tamil Nadu Newsprint & Papers Ltd 1,306.34 1.42% Pharmaceuticals 4,989.87 5.41%
• Glenmark Pharmaceuticals Ltd 2,358.78 2.56% Matrix Laboratories Ltd 992.61 1.08% Vivimed Labs Ltd 925.83 1.00% Cadila Healthcare Ltd 665.31 0.72% Plethico Pharmaceuticals Ltd 47.34 0.05% Power 867.37 0.94% Webel SL Energy Ltd 867.37 0.94% Software 13,117.90 14.23%
• Subex Azure Ltd 2,570.00 2.79% • Tech Mahindra Ltd 2,405.60 2.61%
Mphasis BFL Software Ltd 2,038.65 2.21% Geodesic Information Systems Ltd 1,561.92 1.69% Nucleus Software Exports Ltd 1,551.95 1.68% Megasoft Ltd 1,401.09 1.52% Mastek Ltd 936.69 1.02% Infotech Enterprises Ltd 441.34 0.48% Zenith Infotech Ltd 210.66 0.23% Telecom Services 869.36 0.94% Aksh Optifibre Ltd 869.36 0.94% Textiles - Products 1,654.39 1.80% Kewal Kiran Clothing Ltd 838.24 0.91% Gokaldas Exports Ltd 816.15 0.89% Textiles - Synthetic 377.78 0.41% Sarla Polyester Ltd 377.78 0.41% Transportation 1,047.07 1.13% All Cargo Global Logistics Ltd 794.81 0.86% Shreyas Shipping Ltd 252.26 0.27% Term Deposits 920.00 1.00% ICICI Bank 920.00 1.00% Cash, Call, CBLO & Reverse Repo 7,112.86 7.72% Other Current Assets 285.14 0.36% Total Net Assets 92,157.63 100.00%
Snapshot: Fund Manager : Anil Sarin Indicative Investment Horizon: 3 years & more Inception date: 28-10-2004 Fund Size: Rs. 921.58 crores NAV (As on 31-Aug-06):
Rs. 10000 invested at inception: Emerging S.T.A.R Fund Vs S&P CNX Nifty
CAGR – Emerging S.T.A.R. Fund : 56.95%; Benchmark : 33.55% Past performance may or may not be sustained in future.
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2004.
Rs 22930.00
11,933 13,933 15,933 17,933 19,933 21,933 23,933 25,933 27,933 29,933
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O ct
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4.04%
29.33%
56.95%
-0.44%
17.56%
33.55%
-10.00%
14.23% 13.36%
9.95% 8.69%
0.41%
Software Industrial Capital
Industrial Products Cement
Sector Allocation*
PruICICI Tax Plan Diversified Fund
Snapshot: Fund Manager : Sankaran Naren Indicative Investment Horizon: 3 yrs & more Inception date: 19-08-1999 Fund Size: Rs. 475.77 crores NAV (As on 31-Aug-06):
WHY SHOULD ONE INVEST? Medium term investment of funds with tax benefits for capital appreciation
Auto Ancillaries 8,179.71 17.19% • Kesoram Industries Ltd 2,280.00 4.79% • Sundaram Clayton Ltd 2,058.60 4.33%
Exide Industries Ltd 1,052.70 2.21% Rane Madras Ltd 790.47 1.66% Carborandum Universal Ltd 685.23 1.44% Rane Holdings Ltd 486.72 1.02% Sundaram Brake Linings Ltd 455.13 0.96% Rane Brake Linings Ltd 370.86 0.78% Banks 1,402.40 2.95% Andhra Bank Ltd 1,402.40 2.95% Cement 1,486.61 3.13% Orient Paper & Industries Ltd 1,330.03 2.80% Pokarna Ltd 156.58 0.33% Chemicals 2,892.17 6.09% Andhra Sugars Ltd 1,234.80 2.60% India Glycols Ltd 728.62 1.53% Atul Ltd 659.07 1.39% Clariant Chemicals (India) Ltd 269.68 0.57% Consumer Non-Durable 2,435.66 5.12% Gillette India Ltd 878.97 1.85% ICI India Ltd 676.69 1.42% Harrisons Malyalam Ltd 474.44 1.00% Sakthi Sugars Ltd’ 253.00 0.53% Venky’s (India) Ltd 152.56 0.32% Ferrous Metals 36.35 0.08% Tinplate Company of India Ltd 36.35 0.08% Fertilizers 3,524.45 7.41% Zuari Industries Ltd 1,414.00 2.97% DCM Shriram Consolidated Ltd 1,235.39 2.60% Gujarat State Fertilisers & Chemicals Ltd 875.06 1.84% Finance 350.82 0.74% Sundaram Finance Ltd 350.82 0.74% Hotels 1,156.71 2.43% Oriental Hotels Ltd 895.02 1.88% Taj Gvk Hotels & Resorts Ltd 261.69 0.55% Industrial Capital Goods 2,225.12 4.67%
• Aban Lloyd Chiles Offshore Ltd 1,543.25 3.24% Numeric Power Systems Ltd 459.03 0.96% Indo Tech Transformers Ltd 222.84 0.47% Industrial Products 1,950.03 4.09% H.E.G. Ltd 1,323.33 2.78% Poleplex Corporation Ltd 315.15 0.66% MM Forgings Ltd 311.55 0.65% Media & Entertainment 731.67 1.54% Zee Telefilms Ltd 731.67 1.54% Oil 1,382.67 2.91% Hindustan Oil Exploration Ltd 1,382.67 2.91% Petroleum Products 1,665.84 3.50%
• IBP Company Ltd 1,665.84 3.50% Pharmaceuticals 7,879.32 16.56%
• Cadila Healthcare Ltd 2,680.00 5.63% • Aventis Pharma Ltd 2,419.94 5.09%
FDC Ltd 1,233.95 2.59% Alembic Ltd 751.49 1.58% Dr. Reddys Laboratories Ltd 722.35 1.52% Ahlcon Parenterals (India) Ltd 71.59 0.15% Retailing 1,879.31 3.95%
• Trent Ltd 1,879.31 3.95% Software 44.69 0.09% Tech Mahindra Ltd 44.69 0.09% Textiles - Cotton 736.96 1.55% Precot Mills Ltd 736.96 1.55% Textiles - Products 1,804.64 3.80%
• Raymond Ltd 1,726.00 3.63% K.G. Denim Ltd 78.64 0.17% Textiles - Synthetic 2,783.11 5.85%
• SRF Ltd 2,363.50 4.97% Sangam India Ltd 419.61 0.88% Transportation 1,623.90 3.41%
• Great Eastern Shipping Co. Ltd 1,623.90 3.41% Term Deposits 375.00 0.79% ICICI Bank 375.00 0.79% Cash, Call, CBLO & Reverse Repo 488.02 1.03% Other Current Assets 542.19 1.12% Total Net Assets3 47,577.35 100.00%
1 Year SIP 30-Sep-05 12,000.00 156.85 13,396.56 26.40% 3 Year SIP 30-Sep-03 36,000.00 867.06 74,055.59 55.86% 5 Year SIP 28-Sep-01 60,000.00 2,797.85 238,964.37 60.19% Since Inception 19-Aug-99 86,000.00 4,825.12 412,113.50 44.12%
Portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box
CAGR – Tax Plan: 35.63%; Benchmark : 14.15% Past performance may or may not be sustained in future.
Rs. 10000 invested at inception: Tax Plan Vs S&P CNX Nifty
9.53%
27.92%
Last 6 Months
Last 1 years
Last 3 years
Last 5 years
Rs 85410.00
Rs 25382.16
17.19%
Auto Ancillaries Pharmaceuticals
Industrial Products Retailing
10
Fund Manager's Comment The fund maintained an average equity exposure of 87% during the month. Exposure to Banks, Auto and Non-Ferrous Metals was increased. The fund substantially reduced its holdings by booking profits in Cement, Consumer Non-Durables and Telecom stocks. Exposure to Hotels was reduced to zero.
SIP Returns: As on 31-Aug-06
1 Year SIP 30-Sep-05 12,000.00 172.16 13,836.50 35.16%
3 Year SIP 30-Sep-03 36,000.00 805.40 64,730.00 44.38%
5 Year SIP 28-Sep-01 60,000.00 2,077.09 166,935.72 43.57%
Since Inception 9-Jul-98 99,000.00 4,441.57 356,968.98 30.52%
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2001, 2003 and 2005.
Portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAV
PruICICI Growth Plan Diversified Fund
Snapshot: Fund Manager : Deven Sangoi Indicative Investment Horizon: 5 years & more Inception date: 09-07-1998 Fund Size: Rs. 385.33 crores NAV (As on 31-Aug-06):
Rs. 10000 invested at inception: Growth Plan Vs S & P CNX Nifty
CAGR – Growth Plan : 29.14%; Benchmark : 16.83% Past performance may or may not be sustained in future.
Sector Allocation*
*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
Style Box Figures as on 31-Aug, 2006
Auto 3,041.58 7.90% • Maruti Udyog Ltd 1,162.43 3.02% • Bajaj Auto Ltd 1,159.10 3.01%
Mahindra & Mahindra Ltd 720.05 1.87% Banks 3,722.97 9.67%
• State Bank of India Ltd 1,186.81 3.08% Punjab National Bank Ltd 992.96 2.58% Bank of Baroda Ltd 808.83 2.10% ICICI Bank Ltd 734.37 1.91% Cement 3,026.38 7.86%
• Grasim Industries Ltd 1,466.56 3.81% Associated Cement Companies Ltd 1,129.57 2.93% Ambuja Cement Eastern Ltd 430.25 1.12% Construction 779.15 2.02% Jai Prakash Associates Ltd 779.15 2.02% Consumer Non-Durable 2,205.50 5.73%
• Hindustan Lever Ltd 1,208.55 3.14% ITC Ltd 996.95 2.59% Ferrous Metals 570.69 1.48% Tata Steel Ltd 570.69 1.48% Industrial Capital Goods 5,487.52 14.24% Bharat Heavy Electricals Ltd 1,156.86 3.00% Siemens India Ltd 1,156.30 3.00% Larsen & Toubro Ltd 1,093.71 2.84% ABB Ltd 709.00 1.84% Bharat Electonics Ltd 695.34 1.80% Bharat Earth Movers Ltd 676.31 1.76% Media & Entertainment 773.33 2.01% Zee Telefilms Ltd 773.33 2.01% Non-Ferrous Metals 2,312.36 6.00%
• Hindalco Industries Ltd 1,176.15 3.05% Sterlite Industries (India) Ltd 1,136.21 2.95% Oil 1,553.63 4.03%
• Oil & Natural Gas Company Ltd 1,553.63 4.03% Pesticides 847.31 2.20% United Phosphorus Ltd 847.31 2.20% Petroleum Products 2,097.72 5.44%
• Reliance Industries Ltd 2,097.72 5.44% Pharmaceuticals 1,907.16 4.94% Aventis Pharma Ltd 645.02 1.67% Glaxo Smothkline Pharma Ltd 636.55 1.65% Cipla Ltd 625.59 1.62% Power 810.01 2.10% Reliance Energy Ltd 810.01 2.10% Software 3,227.09 8.38%
• Infosys Technologies Ltd 1,871.43 4.86% • Tata Consultancy Services Ltd 1,317.43 3.42%
Tech Mahindra Ltd 38.23 0.10% Telecom Services 912.53 2.37% Bharti Airtel Ltd 912.53 2.37% Term Deposits 375.00 0.97% ICICI Bank 375.00 0.97% Cash, Call, CBLO & Reverse Repo 4,740.54 12.30% Other Current Assets 142.80 0.36%
Total Net Assets 38,533.27 100.00%
Rs 80370.00
Rs 35522.618,365 18,365 28,365 38,365 48,365 58,365 68,365 78,365 88,365 98,365
Ju l-9
11.95%
14.24%
9.67%
8.38%
7.90%
7.86%
6.00%
5.73%
5.44%
4.94%
4.03%
2.37%
2.20%
2.10%
2.02%
2.01%
1.48%
Industrial Capital Goods
1 Year SIP 30-Sep-05 12,000.00 949.09 14,103.48 40.57% Since Inception 31-Aug-05 13,000.00 1,049.09 15,589.48 41.93%
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.
Fund Manager's Comment
The fund maintained an average equity exposure of 93% during the month. Exposure to Auto/Auto Ancillaries and Banks was increased substantially while positions in Non-Ferrous Metals and Petroleum Products were trimmed. The portfolio is skewed towards large cap as the fund seeks to maximize the risk-return payoff.
Sector Allocation*
*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future.
PruICICI Infrastructure Fund Thematic Fund
Snapshot: Fund Manager : Sankaran Naren Indicative Investment Horizon: 5 yrs and more Inception date: 12-09-2005 Fund Size: Rs. 1,349.96 crores NAV (As on 31-Aug-06):
Style Box Figures as on 31-Aug, 2006
WHY SHOULD ONE INVEST? Long term investment of funds for capital appreciation derived from the growth and development of the infrastructure sector
Auto 3,383.40 2.51% Tata Motors Ltd 3,383.40 2.51% Auto Ancillaries 5,670.20 4.20%
• Kesoram Industries Ltd 5,670.20 4.20% Banks 17,473.97 12.94% Andhra Bank Ltd 4,183.80 3.10% Punjab National Bank Ltd 4,055.41 3.00% Corporation Bank Ltd 2,993.62 2.22% ICICI Bank Ltd 2,389.80 1.77% Bank of Baroda Ltd 1,988.84 1.47% State Bank of India Ltd 1,862.50 1.38% Cement 15,588.76 11.55%
• Grasim Industries Ltd 6,254.63 4.63% • Century Textiles & Industries Ltd 5,601.05 4.15%
OCL India Ltd 2,859.02 2.12% JK Cements Ltd 874.06 0.65% Construction 14,518.30 10.75%
• Patel Engineering Ltd 6,551.45 4.85% • Jai Prakash Associates Ltd 4,331.00 3.21%
Hindustan Construction Co. Ltd 2,543.43 1.88% BL Kashyap and Sons Ltd 1,092.42 0.81% Ferrous Metals 11,486.12 8.51%
• Jindal Steel & Power Company Ltd 5,588.47 4.14% Usha Martin Ltd 2,674.92 1.98% Sesa Goa Ltd 2,237.01 1.66% Adhunik Metaliks Ltd 985.72 0.73% Hotels 9,251.04 6.85%
• EIH Ltd 5,711.58 4.23% Indian Hotels Company Ltd 3,539.46 2.62% Industrial Capital Goods 9,805.24 7.26% Crompton Greaves Ltd 3,137.25 2.32% Bharat Earth Movers Ltd 2,741.33 2.03% Siemens India Ltd 2,619.63 1.94% Alfa-Laval (India) Ltd 1,307.03 0.97% Industrial Products 4,652.85 3.45%
• Electrosteel Castings Ltd 4,652.85 3.45% Minerals/Mining 495.00 0.37% Gujarat NRE Coke Ltd 495.00 0.37% Non-Ferrous Metals 900.02 0.67% Hindalco Industries Ltd 900.02 0.67% Oil 8,586.71 6.36%
• Oil & Natural Gas Company Ltd 7,329.95 5.43% Hindustan Oil Exploration Ltd 1,256.76 0.93% Petroleum Products 8,749.79 6.49%
• Reliance Industries Ltd 5,586.75 4.14% Indian Oil Corporation Ltd 1,981.80 1.47% Madras Refineries Ltd 1,181.24 0.88% Power 7,655.27 5.67% Gujarat Industries Power Company Ltd 2,951.12 2.19% Reliance Energy Ltd 2,192.25 1.62% National Thermal Power Corporation Ltd 1,242.50 0.92% CESC Ltd 877.35 0.65% PTC India Ltd 392.05 0.29% Telecom Services 3,933.75 2.91% Bharti Airtel Ltd 3,933.75 2.91% Transportation 2,970.68 2.20% Containers Corporation of India Ltd 2,749.56 2.04% Jet Airways India Ltd 221.12 0.16% Term Deposits 2,290.00 1.70% ICICI Bank 2,290.00 1.70% Cash, Call, CBLO & Reverse Repo 7,529.99 5.58% Other Current Assets 54.90 0.03%
12.94%
11.55%
10.75%
8.51%
7.26%
6.85%
6.49%
6.36%
5.67%
4.20%
3.45%
2.91%
2.51%
2.20%
0.67%
0.37%
Minerals/Mining
Rs. 10000 invested at inception: Infrastructure Fund Vs S&P CNX Nifty
CAGR – Infrastructure : 48.60%; Benchmark : 43.16% Past performance may or may not be sustained in future.
Rs 14860.00
Rs 14316.15
9,420 10,420 11,420 12,420 13,420 14,420 15,420 16,420 17,420 18,420
A ug
-0 5
Se p-
12
Fund Manager's Comment The fund maintained an average equity exposure of 90% during the month. The portfolio is overweight banking and technology stocks. Some large cap banking positions were trimmed and replaced by the mid-cap banks. In Media & Entertainment, holding in Zee Telefilms was increased. Exposure to Telecom Services and Consumer Durables was reduced to zero.
Average P/E : 18.02 Average P/BV : 3.99 Average Dividend Yield : 0.99 Annual Portfolio Turnover Ratio : 1.63 times Portfolio turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the JP Morgan 3 month T-Bill Index.
Portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAVSnapshot:
Fund Manager : Deven Sangoi Indicative Investment Horizon: 5 yrs. & more Inception date: 30-11-2005 Fund Size: Rs. 354.46 crores NAV (As on 31-Aug-06):
**Expense Ratio for the month of Aug'06: 2.27% **This is a close approximation of the number.
WHY SHOULD ONE INVEST? Long term investment of funds for capital appreciation derived
from the growth potential of the service industries sector
Auto Ancillaries 2,593.13 7.31% Carborandum Universal Ltd 951.67 2.68% Sundaram Clayton Ltd 874.91 2.47% Munjal Auto Industries Ltd 256.88 0.72% Automobile Corporation of Goa Ltd 509.67 1.44% Banks 4,367.96 12.32%
• Punjab National Bank Ltd 1,613.22 4.55% • State Bank of India Ltd 1,144.93 3.23%
Andhra Bank Ltd 562.40 1.59% ICICI Bank Ltd 561.12 1.58% Kotak Mahindra Bank Ltd 486.29 1.37% Construction 1,881.48 5.31%
• Jai Prakash Associates Ltd 1,052.42 2.97% Patel Engineering Ltd 426.51 1.20% BL Kashyap and Sons Ltd 402.55 1.14% Finance 1,645.43 4.64% Housing Development Finance Corporation Ltd 860.38 2.43% India Infoline Ltd 785.05 2.21% Hotels 1,417.34 4.00%
• Indian Hotels Company Ltd 1,094.72 3.09% Taj Gvk Hotels & Resorts Ltd 322.62 0.91% Industrial Capital Goods 1,916.95 5.40%
• Larsen & Toubro Ltd 1,280.31 3.61% Jyoti Ltd 121.88 0.34% Bharti Shipyard Ltd 514.76 1.45% Industrial Products 1,136.44 3.20% Jain Irrigation Systems Ltd 755.93 2.13% Shivam Autotech Ltd 380.51 1.07% Media & Entertainment 1,685.14 4.76% Jagran Prakashan Pvt Ltd 967.28 2.73% Zee Telefilms Ltd 717.86 2.03% Pesticides 1,565.91 4.42%
• United Phosphorus Ltd 1,565.91 4.42% Pharmaceuticals 1,296.41 3.66% Plethico Pharmaceuticals Ltd 771.46 2.18% Dishman Pharmaceuticals & Chemicals Ltd 524.95 1.48% Power 721.24 2.03% PTC India Ltd 721.24 2.03% Retailing 726.49 2.05% Trent Ltd 726.49 2.05% Software 8,514.51 24.01%
• Infosys Technologies Ltd 1,860.38 5.25% • Hinduja TMT Ltd 1,048.62 2.96% • Nucleus Software Exports Ltd 967.61 2.73%
Tata Consultancy Services Ltd 769.74 2.17% Hexaware Technologies Ltd. 279.57 0.79% Mphasis BFL Software Ltd 731.65 2.06% Infotech Enterprises Ltd 687.87 1.94% Tulip IT Services Ltd 681.75 1.92% Tech Mahindra Ltd 575.69 1.62% Mastek Ltd 568.04 1.60% Financial Technologies Ltd 343.59 0.97% Textiles - Products 1,532.76 4.32% Gokaldas Exports Ltd 848.68 2.39% Aditya Birla Nuvo Ltd 684.08 1.93% Transportation 1,203.35 3.39%
• Containers Corporation of India Ltd 1,203.35 3.39% Term Deposits 396.80 1.12% ICICI Bank 396.80 1.12% Cash, Call, CBLO & Reverse Repo 1,613.04 4.55% Other Current Assets 1,231.55 3.51% Total Net Assets 35,445.93 100.00%
Sector Allocation*
*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future.
PruICICI Services Industries Fund Thematic Fund
Style Box
Last 6 Months Since Inception
Pru ICICI Services Industries Fund S&P CNX Nifty
24.01%
12.32%
7.31%
5.40%
5.31%
4.76%
4.64%
4.42%
4.32%
4.00%
3.66%
3.39%
3.20%
2.05%
2.03%
Retailing
Power
13
PruICICI FMCG Fund Thematic Fund
Snapshot:
Fund Manager : Prashant Kothari Indicative Investment Horizon: 5 yrs & more Inception date: 31-03-1999 Fund Size: Rs. 101.79 crores NAV (As on 31-Aug-06):
WHY SHOULD ONE INVEST? Long term investment of funds for capital appreciation in FMCG sector
Performance Record* - Growth Option
Rs. 10000 invested at inception: FMCG Vs CNX FMCG Index
CAGR – FMCG : 19.18%; Benchmark : 7.26% Past performance may or may not be sustained in future.
Sector Allocation*
*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is CNX FMCG Index. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
1 Year SIP 30-Sep-05 12,000.00 357.07 13,140.18 21.39%
3 Year SIP 30-Sep-03 36,000.00 2,081.17 76,587.06 58.82%
5 Year SIP 30-Sep-01 60,000.00 4,943.63 181,925.58 47.48%
Since Inception 31-Mar-99 90,000.00 7,916.27 291,318.74 31.17%
Consumer Non-Durable 7,299.93 71.70% • ITC Ltd 860.26 8.45% • Marico Industries Ltd 826.95 8.12% • ICI India Ltd 802.55 7.88% • Gillette India Ltd 699.79 6.87% • Radico Khaitan Ltd 624.10 6.13% • Pidilite Industries Ltd 604.99 5.94% • Hindustan Lever Ltd 574.40 5.64% • Godrej Consumer Products Ltd 500.41 4.92%
Asian Paints Ltd 472.71 4.64% Champagne Indage Ltd 326.55 3.21% Bata India Ltd 254.11 2.50% Proctor & Gamble Hygiene and Healthcare Limited 249.41 2.45% Goodlass Nerolac Paints Ltd 226.02 2.22% Agro Dutch Industries Ltd 168.47 1.66% Berger Paints India Ltd 109.21 1.07% Retailing 2,250.00 22.10%
• Trent Ltd 971.96 9.55% Trent Ltd - Rights Warrants 21.60 0.21%
• Pantaloon Retail (India) Ltd 848.12 8.33% Shoppers’ Stop Ltd 408.32 4.01% Cash, Call, CBLO & Reverse Repo 575.81 5.66% Other Current Assets 53.04 0.54%
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2001 and 2003.
Rs 36800.00
Rs 16828.565,853 10,853 15,853 20,853 25,853 30,853 35,853 40,853 45,853
M ar
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3.87%
32.04%
53.04%
33.75%
19.18%
2.02%
45.83%
29.09%
Last 6 Months
Last 1 years
Last 3 years
Last 5 years
71.70%
22.10%
Consumer Non-
PruICICI Technology Fund Sector Fund
Snapshot: Fund Manager : Deven Sangoi Indicative Investment Horizon: 5 yrs & more Inception date: 03-03-2000 Fund Size: Rs. 118.11 crores NAV (As on 31-Aug-06):
Growth option: Rs. 11.00 **Expense Ratio for the month of Aug'06: 2.47%
WHY SHOULD ONE INVEST? Long term investment of funds for capital appreciation in technology sector
Consultancy 25.82 0.22%
Industrial Capital Goods 234.74 1.99%
Solectron Centum Electronics Ltd 234.74 1.99%
Media & Entertainment 1,875.11 15.88%
Pharmaceuticals 835.24 7.07%
Software 7,679.01 65.02%
• Mastek Ltd 626.02 5.30%
• I-Flex Solutions Ltd 507.59 4.30%
• Tata Consultancy Services Ltd 487.71 4.13%
• Satyam Computer Services Ltd 485.01 4.11%
• Hexaware Technologies Ltd. 475.15 4.02%
HCL Technologies Ltd 463.79 3.93%
Megasoft Ltd 376.48 3.19%
Hinduja TMT Ltd 348.32 2.95%
Tulip IT Services Ltd 343.31 2.91%
Aztec Software & Technology Services Ltd 296.08 2.51%
Tech Mahindra Ltd 281.05 2.38%
Geodesic Information Systems Ltd 224.26 1.90%
Telecom Services 462.69 3.92%
Cash, Call, CBLO & Reverse Repo 749.28 6.34%
Other Current Assets (51.17) -0.44%
Rs. 10000 invested at inception: Technology Fund Vs BSE Tech Index
CAGR – Technology Fund: 1.48%; Benchmark : -6.78% Past performance may or may not be sustained in future.
Sector Allocation*
*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE Tech Index. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
1 Year SIP 30-Sep-05 12,000.00 1,196.64 13,163.04 21.83%
3 Year SIP 30-Sep-03 36,000.00 5,375.84 59,134.24 36.95%
5 Year SIP 28-Sep-01 60,000.00 13,645.39 150,099.29 38.80%
Since Inception 3-Mar-00 79,000.00 17,760.12 195,361.32 27.82%
Style Box
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2001 and 2003.
Rs 11000.00
7.32%18.41%
Last 6 Months
Last 1 years
Last 3 years
Last 5 years
Since
65.02%
15.88%
7.07%
3.92%
1.99%
0.22%
Consultancy
15
Invested of Units Returns 1 Year SIP 30-Sep-05 12,000.00 458.95 13,969.93 37.85% 3 Year SIP 30-Sep-03 36,000.00 2,003.99 60,999.25 39.48% Since Inception 26-Feb-02 56,000.00 4,219.43 128,434.81 37.95%
PruICICI Index Fund Index Fund
Snapshot: Fund Manager : Yogesh Bhatt Indicative Investment Horizon: 5 yrs & more Inception date: 26-02-2002 Fund Size: Rs. 6.11 crores NAV (As on 31-Aug-06): Rs. 30.4389 **Expense Ratio for the month of Aug'06: 1.25%
by replicating S&P CNX Nifty index
Auto 35.01 5.73% Tata Motors Ltd 9.93 1.62% Bajaj Auto Ltd 8.30 1.36% Maruti Udyog Ltd 7.58 1.24% Mahindra & Mahindra Ltd 4.81 0.79% Hero Honda Ltd 4.39 0.72% Banks 45.34 7.41%
• ICICI Bank Ltd 16.24 2.66% State Bank of India Ltd 14.94 2.44% HDFC Bank Ltd 8.15 1.33% Punjab National Bank Ltd 4.53 0.74% Oriental Bank of Commerce 1.48 0.24% Cement 16.10 2.64% Grasim Industries Ltd 6.28 1.03% Associated Cement Companies Ltd 5.19 0.85% Gujarat Ambuja Cement Ltd 4.63 0.76% Chemicals 2.19 0.36% Indian Petrochemicals Corporation Ltd 2.19 0.36% Consumer Non-Durable 41.44 6.78%
• ITC Ltd 21.92 3.59% • Hindustan Lever Ltd 15.76 2.58%
Dabur India Ltd 2.39 0.39% Tata Tea Ltd 1.37 0.22% Ferrous Metals 17.48 2.86% Steel Authority of India Ltd 9.11 1.49% Tata Steel Ltd 8.37 1.37% Finance 9.97 1.63% Housing Development Finance Corporation Ltd 9.97 1.63% Gas 6.70 1.10% Gas Authority of India Ltd 6.70 1.10% Industrial Capital Goods 46.65 7.64%
• Bharat Heavy Electricals Ltd 16.87 2.76% Suzlon Energy Ltd 10.55 1.73% Larsen & Toubro Ltd 10.24 1.68% Siemens India Ltd 5.39 0.88% ABB Ltd 3.60 0.59% Media & Entertainment 3.49 0.57% Zee Telefilms Ltd 3.49 0.57% Non-Ferrous Metals 10.06 1.64% Hindalco Industries Ltd 6.08 0.99% National Aluminium Company Ltd 3.98 0.65% Oil 52.90 8.66%
• Oil & Natural Gas Company Ltd 52.90 8.66% Petroleum Products 53.62 8.77%
• Reliance Industries Ltd 47.45 7.76% Bharat Petroleum Corporation Ltd 3.30 0.54% Hindustan Petroleum Corporation Ltd 2.87 0.47% Pharmaceuticals 22.22 3.63% Cipla Ltd 5.95 0.97% Sun Pharmaceuticals Ltd 5.15 0.84% Ranbaxy Laboratories Ltd 4.62 0.76% Dr. Reddys Laboratories Ltd 3.38 0.55% Glaxo Smothkline Pharma Ltd 3.12 0.51% Power 6.03 0.99% Tata Power Company Ltd 3.18 0.52% Reliance Energy Ltd 2.85 0.47% Software 96.65 15.82%
• Infosys Technologies Ltd 30.47 4.99% • Tata Consultancy Services Ltd 29.76 4.87% • Wipro Ltd 22.64 3.70%
Satyam Computer Services Ltd 8.05 1.32% HCL Technologies Ltd 5.73 0.94% Telecom Services 30.38 4.96%
• Bharti Airtel Ltd 23.74 3.88% Videsh Sanchar Nigam Ltd 3.63 0.59% Mahanagar Telephone Nigam Ltd 3.01 0.49% Transportation 1.41 0.23% Jet Airways India Ltd 1.41 0.23% Nifty Futures 105.57 17.27% Cash, Call, CBLO & Reverse Repo 99.38 16.26% Other Current Assets (91.41) -14.95% Total Net Assets 611.18 100.00%
Performance Record *- Cumulative Option
Rs. 10000 invested at inception: Index Fund Vs S&P CNX Nifty
CAGR – Index Fund : 27.98%; Benchmark : 26.32% Past performance may or may not be sustained in future.
Sector Allocation*
*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2003 and 2005.
Rs 30438.90
Rs 28702.71
12.70%
47.99%
37.37%
27.98%
11.03%
43.16%
35.91%
26.32%
15.82%
8.77%
8.66%
7.64%
7.41%
6.78%
5.73%
4.96%
3.63%
2.86%
2.64%
1.64%
1.63%
1.10%
0.99%
0.57%
0.36%
0.23%
Software
Portfolio
SPIcE Fund Index Fund
Snapshot: Fund Manager : Yogesh Bhatt Investment Horizon: 5 years & more Inception date: 10-01-2003 Fund Size: Rs. 0.95 crores NAV (As on 31-Aug-06): Rs. 120.0633 **Expense Ratio for the month of Aug'06: 0.80%
WHY SHOULD ONE INVEST? Long term investment of funds for capital appreciation by replicating the BSE Sensitive Index
Auto 6.95 7.35%
Banks 12.08 12.77%
State Bank of India Ltd 2.75 2.91%
HDFC Bank Ltd 2.68 2.83%
Cement 4.85 5.13%
Gujarat Ambuja Cement Ltd 1.53 1.62%
Associated Cement Companies Ltd 1.38 1.46%
Consumer Non-Durable 9.51 10.06%
• ITC Ltd 6.28 6.64%
Ferrous Metals 2.58 2.73%
Finance 3.68 3.89%
Industrial Capital Goods 6.19 6.55%
• Larsen & Toubro Ltd 3.77 3.99%
Bharat Heavy Electricals Ltd 2.42 2.56%
Non-Ferrous Metals 1.87 1.98%
Oil 4.33 4.58%
Petroleum Products 10.71 11.33%
Pharmaceuticals 3.95 4.18%
Dr. Reddys Laboratories Ltd 1.04 1.10%
Power 3.17 3.35%
Reliance Energy Ltd 1.25 1.32%
Software 17.43 18.44%
• Satyam Computer Services Ltd 3.14 3.32%
Tata Consultancy Services Ltd 2.44 2.58%
Wipro Ltd 1.85 1.96%
Telecom Services 6.16 6.52%
Reliance Communications Ventures Ltd 2.75 2.91%
Cash, Call, CBLO & Reverse Repo 2.10 2.22%
Total Net Assets 94.55 100.00%
Rs. 10000 invested at inception: SPICE Vs BSE Sensitive Index
CAGR – SPIcE Fund : 41.88%; Benchmark : 40.88% Past performance may or may not be sustained in future.
Sector Allocation*
*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE SENSEX Index.For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
Company/Issuer Mkt Value (Rs. Lakh) % to NAV
Rs 35743.76
Rs 34829.07
Last 6 Months
SPIcE Fund BSE SENSEX
Software
Banks
Quantitative Indicators – Debt Component Quantitative Indicators – Equity Component
Average Maturity : 1.75 year Modified Duration : 1.48 year Yield To Maturity : 7.48%
Average P/E : 17.63 Average P/BV : 2.74 Average Dividend Yield : 0.97
1 Year SIP 29-Sep-05 12,000.00 694.16 12,537.78 9.90% 3 Year SIP 30-Sep-03 36,000.00 2,304.89 41,630.46 10.19% 5 Year SIP 30-Sep-01 60,000.00 4,263.73 77,010.64 10.23% Since Inception 10-Nov-00 71,000.00 5,304.51 95,809.00 10.28%
Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.
PruICICI Monthly Income Plan
Snapshot: Fund Managers: Equity : Prashant Kothari
Debt : Chaitanya Pande Indicative Investment Horizon: 1 yr & above Inception date: 10-11-2000 Fund Size: Rs. 550.77 crores NAV (As on 31-Aug-06): Cumulative option : Rs. 18.0618 **Expense Ratio for the month of Aug'06: 1.95% **This is a close approximation of the number.
WHY SHOULD ONE INVEST? Medium term investment in a portfolio of debt and equity (upto 15%) for capital appreciation.
Rs. 10000 invested at inception*: MIP Vs Crisil MIP Blended Index
Performance Record* - Cumulative Option
Rating Profile (as % of debt holding)
*Benchmark start date : 31-03-2002. CAGR – MIP: 10.16%; Benchmark : 9.12%. Benchmark is Crisil MIP Blended Index. Past performance may or may not be sustained in future.
*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIP Blended Index. Start date: 31/3/02. For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performance may or may not be sustained in future. 30-Aug-03 & 31-Aug-03 were non business days.
Equity Holdings 7,902.24 14.35% Reliance Industries Ltd Petroleum Products 850.31 1.54% Punjab National Bank Ltd Banks 424.31 0.77% ITC Ltd Consumer Non-Durable 413.98 0.75% ICICI Bank Ltd Banks 405.07 0.74% Bharti Airtel Ltd Telecom Services 390.50 0.71% OCL India Ltd Cement 320.23 0.58% Larsen & Toubro Ltd Industrial Capital Goods 288.45 0.52% Infosys Technologies Ltd Software 234.83 0.43% Patel Engineering Ltd Construction 231.64 0.42% State Bank of India Ltd Banks 230.59 0.42% Bank of Baroda Ltd Banks 225.85 0.41% Deccan Chronicle Holdings Ltd Media & Entertainment 204.66 0.37% Aventis Pharma Ltd Pharmaceuticals 158.06 0.29% AIA Engineering Ltd Industrial Products 148.38 0.27% Oil & Natural Gas Company Ltd Oil 146.11 0.27% Indo Tech Transformers Ltd Industrial Capital Goods 145.77 0.26% Pokarna Ltd Cement 145.09 0.26% Bharat Earth Movers Ltd Industrial Capital Goods 133.67 0.24% Amtek Auto Ltd Auto Ancillaries 131.49 0.24% Tata Steel Ltd Ferrous Metals 103.62 0.19% Viceroy Hotels Ltd Hotels 94.42 0.17% Glaxo Smothkline Pharma Ltd Pharmaceuticals 82.30 0.15% Ashok Leyland Ltd Auto 79.20 0.14% Jindal Steel & Power Company Ltd Ferrous Metals 70.40 0.13% Tech Mahindra Ltd Software 57.94 0.11% I-Flex Solutions Ltd Software 54.99 0.10% Exide Industries Ltd Auto Ancillaries 25.81 0.05% Nifty Futures 2,104.57 3.82% Debt Holdings 45,190.05 82.04% PSU/PFI Bonds 2,498.87 4.54% Indian Railway Finance Corporation AAA 1,540.16 2.80% Infrastructure Development Finance Corporation AAA 958.71 1.74% Private Corporate Securities 14,474.19 26.27%
• PTC Citi Fleet Trust Citibank AAA(SO) 4,138.67 7.51% • Citicorp Maruti Finance Ltd AAA 2,965.47 5.38%
PTC IBL Trust IndusInd Bank AAA(SO) 2,759.66 5.01% PTC RPS Tata Teleservices AAA(SO) 1,602.94 2.91% Sundaram Finance Ltd AAA 1,456.87 2.65% Hindalco Industries Ltd AAA 984.32 1.79% PTC Citi Mobile Trust Citibank AAA(SO) 525.74 0.95% India Infrastructure Developers Ltd A1+(SO) 40.52 0.07% Government Securities 14,673.21 26.64%
• 6.65% GOI 2009 Sovereign 5,898.00 10.71% • 7.55% GOI 2010 Sovereign 5,016.00 9.11%
12.25% GOI 2009 Sovereign 2,749.41 4.99% 8.07% GOI 2017 Sovereign 1,009.80 1.83% CPs and CDs 2,963.06 5.38% UTI Bank Ltd - CD P1+ 996.03 1.81% American Express Bank Ltd - CD P1+ 984.19 1.79% HDFC Bank - CD P1+ 982.84 1.78% Treasury Bills 4,924.02 8.94%
• 91 Day T Bill (MD 24/11/2006) Sovereign 4,924.02 8.94% Term Deposits 1,952.00 3.54% ICICI Bank 1,952.00 3.54% Cash, Call, CBLO & Reverse Repo 3,704.70 6.73% Other Current Assets 1,984.72 3.61%
• Top Five Holdings
Maturity Profile (as % of debt holding)
(An open ended fund. Monthly income is not assured and is subject to the availability of distributable surplus.)
% Unlisted Bonds : 8.03%
Style Box:
Debt Equity
Rs 15329.73
Rs 14701.97
Pru ICICI Monthly Income Plan Cris il MIP Blended index
4.54%
45.54%
28.71%
10.63%
8.76%
4.22%
2.14%
1-3 years
<182 days
3-5 years
Debt : Chaitanya Pande Indicative Investment Horizon: 6 months-1 year Inception date: 31-05-2005 Fund Size: Rs. 856.47 crores NAV (As on 31-Aug-06):
**Expense Ratio for the month of Aug'06: 1.50% **This is a close approximation of the number.
PruICICI Blended Plan A Portfolio
Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value (Rs. Lakh) (Rs. Lakh)-Futures
Equity Holdings 64,659.30 75.51% (65,082.48) • Reliance Industries Ltd Petroleum Products 7,096.29 8.29%
Reliance Industries Ltd- Futures -7,154.40 • Bharti Airtel Ltd Telecom Services 4,521.55 5.28%
Bharti Airtel Ltd- Futures -4,531.45 • State Bank of India Ltd Banks 3,794.84 4.43%
State Bank of India Ltd- Futures -3,818.89 • Hindalco Industries Ltd Non-Ferrous Metals 3,528.34 4.12%
Hindalco Industries Ltd - Rights Non-Ferrous Metals 23.28 0.03% Hindalco Industries Ltd- Futures -3,602.36 Indian Petrochemicals Corporation Ltd Chemicals 3,339.04 3.90% Indian Petrochemicals Corporation Ltd- Futures -3,363.78 Mahanagar Telephone Nigam Ltd Telecom Services 2,928.99 3.42% Mahanagar Telephone Nigam Ltd- Futures -2,938.32 Ranbaxy Laboratories Ltd Pharmaceuticals 2,684.22 3.13% Ranbaxy Laboratories Ltd- Futures -2,702.70 Sterlite Industries (India) Ltd Non-Ferrous Metals 2,635.78 3.08% Sterlite Industries (India) Ltd- Futures -2,653.91 Bank of Baroda Ltd Banks 2,580.73 3.01% Bank of Baroda Ltd- Futures -2,579.70 Infosys Technologies Ltd Software 2,554.25 2.98% Infosys Technologies Ltd- Futures -2,565.21 India Cements Ltd Cement 2,452.18 2.86% India Cements Ltd- Futures -2,462.56 Century Textiles & Industries Ltd Cement 2,292.55 2.68% Century Textiles & Industries Ltd- Futures -2,314.90 Reliance Energy Ltd Power 2,119.69 2.47% Reliance Energy Ltd- Futures -2,138.30 Tata Steel Ltd Ferrous Metals 1,751.89 2.05% Tata Steel Ltd- Futures -1,766.01 Matrix Laboratories Ltd Pharmaceuticals 1,608.17 1.88% Matrix Laboratories Ltd- Futures -1,611.70 Reliance Capital Finance Ltd Finance 1,469.79 1.72% Reliance Capital Finance Ltd- Futures -1,484.21 Oriental Bank of Commerce Banks 1,299.52 1.52% Oriental Bank of Commerce- Futures -1,310.91 Industrial Development Bank of India Banks 1,139.17 1.33% Industrial Development Bank of India- Futures -1,148.78 SRF Ltd Textiles - Synthetic 826.04 0.96% SRF Ltd- Futures -833.21 Divis Laboratories Ltd Pharmaceuticals 806.27 0.94% Divis Laboratories Ltd- Futures -814.88 Jindal Steel & Power Company Ltd Ferrous Metals 789.19 0.92% Jindal Steel & Power Company Ltd- Futures -793.11 Associated Cement Companies Ltd Cement 777.84 0.91% Associated Cement Companies Ltd- Futures -784.33 Mphasis BFL Software Ltd Software 739.05 0.86% Mphasis BFL Software Ltd- Futures -741.77 Gujarat Narmada Valley Fertilisers Co. Ltd Fertilizers 705.77 0.82% Gujarat Narmada Valley Fertilisers Co. Ltd- Futures -714.08 Essar Oil Ltd Oil 654.69 0.76% Essar Oil Ltd- Futures -661.05 Videsh Sanchar Nigam Ltd Telecom Services 646.84 0.76% Videsh Sanchar Nigam Ltd- Futures -652.33 Gujarat Ambuja Cement Ltd Cement 639.55 0.75% Gujarat Ambuja Cement Ltd- Futures -645.24 GMR Infrastructure Ltd Construction 601.16 0.70% GMR Infrastructure Ltd- Futures -606.76 Punjab National Bank Ltd Banks 599.68 0.70% Punjab National Bank Ltd- Futures -596.89 Bharat Petroleum Corporation Ltd Petroleum Products 526.96 0.62% Bharat Petroleum Corporation Ltd- Futures -530.68 Mahindra & Mahindra Ltd Auto 508.92 0.59% Mahindra & Mahindra Ltd- Futures -512.94 New Delhi Television Ltd Media & Entertainment 504.20 0.59% New Delhi Television Ltd- Futures -508.86 Jindal Stainless Ltd Ferrous Metals 377.33 0.44% Jindal Stainless Ltd- Futures -374.23 Dr. Reddys Laboratories Ltd Pharmaceuticals 358.29 0.42% Dr. Reddys Laboratories Ltd- Futures -356.45 Canara Bank Ltd Banks 353.76 0.41% Canara Bank Ltd- Futures -357.28 Jai Prakash Hydro Power Ltd Power 332.48 0.39% Jai Prakash Hydro Power Ltd- Futures -335.69 Hindustan Petroleum Corporation Ltd Petroleum Products 297.78 0.35% Hindustan Petroleum Corporation Ltd- Futures -300.51 Industrial Development Finance Corporation Ltd Finance 297.11 0.35% Industrial Development Finance Corporation Ltd- Futures -299.34 Tata Motors Ltd Auto 265.17 0.31% Tata Motors Ltd- Futures -265.80 Polaris Software Lab Ltd Software 254.58 0.30% Polaris Software Lab Ltd- Futures -255.83 Orchid Chemicals Ltd Pharmaceuticals 249.39 0.29% Orchid Chemicals Ltd- Futures -251.35 Arvind Mills Ltd Textiles - Products 238.01 0.28% Arvind Mills Ltd- Futures -236.26 Mangalore Refineries & Petrochemicals Ltd Petroleum Products 222.14 0.26% Mangalore Refineries & Petrochemicals Ltd- Futures -224.01 Syndicate Bank Ltd Banks 193.11 0.23% Syndicate Bank Ltd- Futures -194.51 National Thermal Power Corporation Ltd Power 169.60 0.20% National Thermal Power Corporation Ltd- Futures -171.10 IndusInd Bank Ltd Banks 153.37 0.18% IndusInd Bank Ltd- Futures -154.08 Industrial Finance Corporation of India Ltd Finance 151.01 0.18% Industrial Finance Corporation of India Ltd- Futures -152.62 I-Flex Solutions Ltd Software 148.92 0.17% I-Flex Solutions Ltd- Futures -150.00 Indian Hotels Company Ltd Hotels 146.78 0.17% Indian Hotels Company Ltd- Futures -148.01 Alok Textiles Ltd Textiles - Products 144.70 0.17% Alok Textiles Ltd- Futures -143.31 LIC Housing Finance Ltd Finance 135.42 0.16% LIC Housing Finance Ltd- Futures -136.87 Vijaya Bank Banks 134.87 0.16% Vijaya Bank- Futures -136.30 Tata Tea Ltd Consumer Non-Durable 134.07 0.16% Tata Tea Ltd- Futures -135.34 Chambal Fertilisers & Chemicals Ltd Fertilizers 132.09 0.15% Chambal Fertilisers & Chemicals Ltd- Futures -132.46 Cummins India Ltd Industrial Products 124.10 0.14% Cummins India Ltd- Futures -124.63 Escorts Ltd Auto 104.53 0.12% Escorts Ltd- Futures -105.33 Great Eastern Shipping Co. Ltd Transportation 84.04 0.10% Great Eastern Shipping Co. Ltd- Futures -84.80 Shipping Corporation of India Ltd Transportation 65.45 0.08% Shipping Corporation of India Ltd- Futures -65.59 Aurobindo Pharma Ltd Pharmaceuticals 52.30 0.06% Aurobindo Pharma Ltd- Futures -52.73 Wockhardt Ltd Pharmaceuticals 50.27 0.06% Wockhardt Ltd- Futures -50.76 Cipla Ltd Pharmaceuticals 31.38 0.04% Cipla Ltd- Futures -31.50 Union Bank of India Ltd Banks 29.46 0.03% Union Bank of India Ltd- Futures -29.70 Ballarpur Industries Ltd Paper 28.49 0.03% Ballarpur Industries Ltd- Futures -28.65 Indian Overseas Bank Ltd Banks 18.96 0.02% Indian Overseas Bank Ltd- Futures -19.13 Punj Llyod Ltd Construction 13.30 0.02% Punj Llyod Ltd- Futures -13.41 Karnataka Bank Ltd Banks 11.04 0.01% Karnataka Bank Ltd- Futures -11.14 Bharat Electonics Ltd Industrial Capital Goods 9.56 0.01% Bharat Electonics Ltd- Futures -9.54 Debt Holdings 20,987.83 24.49% Private Corporate Securities 485.62 0.57% Sundaram Finance Ltd AAA 485.62 0.57% Term Deposits 18,251.00 21.31%
• ICICI Bank 18,251.00 21.31% Cash, Call, CBLO & Reverse Repo 7,311.13 8.54% Other Current Assets (5,059.92) -5.93% Total Net Assets 85,647.13 100.00%
* Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Short Term Bond Fund Index. For Computation of returns the allotment NAV has been taken as Rs 10.00. Past performance may or may not be sustained in future.
Rating Profile (as % of total debt components)
Maturity Profile: (as % of total debt components)
Asset Allocation: (as % of Net Assets)
Average Maturity : 0.03 year Modified Duration : 0.03 year Yield To Maturity : 6.82% % Unlisted Bonds : 0.57%
WHY SHOULD ONE INVEST? Opportunity to enhance returns from a blend of equity & equity arbitrage (atleast 51%) and low
volatility returns from a minimum debt exposure of 25% for a short time horizon
4.16%
Last 6 Months Last 1 years Since Inception
Pru ICICI Blanded Plan A Crisil Short Term Bond Fund Index
Total Hedged Equity
<182 days
1-3 years
* Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Short Term Bond Fund Index. For Computation of returns the allotment NAV has been taken as Rs 10.00. Past performance may or may not be sustained in future.
Snapshot: Fund Managers: Debt : Chaitanya Pande
Equity : Yogesh Bhatt Indicative Investment Horizon: 6 months-1 year Inception date: 31-05-2005 Fund Size: Rs. 165.68 crores NAV (As on 31-Aug-06):
**Expense Ratio for the month of Aug'06: Blended Plan B : 1.50% Blended Plan B - Inst.: 1.00%
PruICICI Blended Plan B Portfolio
Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value (Rs. Lakh) (Rs. Lakh)-Futures
Equity Holdings 2,398.90 14.47% (2,412.91)
Bank of Baroda Ltd Banks 779.49 4.70%
Bank of Baroda Ltd- Futures -779.18
New Delhi Television Ltd Media & Entertainment 441.98 2.67%
New Delhi Television Ltd- Futures -446.06
Sterlite Industries (India) Ltd Non-Ferrous Metals 413.31 2.49%
Sterlite Industries (India) Ltd- Futures -416.16
Colgate Palmolive (India) Ltd Consumer Non-Durable 281.04 1.70%
Colgate Palmolive (India) Ltd- Futures -283.72
Century Textiles & Industries Ltd Cement 128.18 0.77%
Century Textiles & Industries Ltd- Futures -129.43
Oriental Bank of Commerce Banks 104.71 0.63%
Oriental Bank of Commerce- Futures -105.62
Gujarat Narmada Valley Fertilisers Co. Ltd Fertilizers 95.06 0.57%
Gujarat Narmada Valley Fertilisers Co. Ltd- Futures -96.18
Industrial Development Bank of India Banks 93.89 0.57%
Industrial Development Bank of India- Futures -94.68
Bongaigon Refinery & Petrochemicals Ltd Petroleum Products 61.24 0.37%
Bongaigon Refinery & Petrochemicals Ltd- Futures -61.88
Debt Holdings 14,168.75 85.53%
• PTC Citi Fleet Trust Citibank AAA(SO) 1,529.10 9.23%
PTC IBL Trust IndusInd Bank AAA(SO) 919.89 5.55%
PTC TVS Finance AAA(SO) 398.12 2.40%
CPs and CDs 9,815.23 59.25%
• Kotak Mahindra Bank Ltd - CD P1+ 3,059.48 18.47%
• UTI Bank Ltd - CD P1+ 2,504.34 15.12%
• Punjab National Bank - CD P1+ 1,792.96 10.82%
• HDFC Bank - CD P1+ 1,474.26 8.90%
American Express Bank Ltd - CD P1+ 984.19 5.94%
Term Deposits 774.00 4.67%
ICICI Bank 774.00 4.67%
Average Maturity : 0.61 year Modified Duration : 0.41 year Yield To Maturity : 5.88% % Unlisted Bonds : 00.00%
WHY SHOULD ONE INVEST? Generate low volaility returns from debt (atleast 51%) along with
an opportunity to enhance returns from equity arbitrage (maximum 49%)
3.52%
0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00%
Last 6 Months Last 1 years Since Inception
Pru ICICI Blanded Plan B Crisil Short Term Bond Fund Index
AAA and Equivalent 89.37%
<182 days
182 days-1year
1-3 years
20
SIP Return: As on 31 Aug, 2006 Period SIP Start Date Total Amount Total No. Market Value SIP
1 Year SIP 30-Sep-05 12,000.00 429.41 13,075.53 20.14% 3 Year SIP 30-Sep-03 36,000.00 1,831.93 55,782.27 32.28% 5 Year SIP 1-Oct-01 60,000.00 4,393.34 133,777.20 33.72% Since Inception 3-Nov-99 83,000.00 6,729.24 204,905.36 26.27%
Quantitative Indicators – Debt Component Quantitative Indicators – Equity Component
Average Maturity

the - icici prudential mutual fund

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