Annual Report 2013 - 14 - Home - Mirae Asset Report...Karvy Computershare Private Limited Karvy Plaza; H. No.8-2-596, Avenue 4, Street No.1, Banjara Hills, Hyderabad - 500 034. Trustee:

Annual Report 2013 - 14

Mirae Asset Mutual FundAnnual Report 2013-14

Board of Directors

Mirae Asset Trustee Company Private Limited

Mr. V. B. Haribhakti Chairman (Independent)

Mr. S. T. Gerela Director (Independent)

Mr. K. Ramasubramanian Director (Independent)

Mr. M. L. Soneji Director (Independent)

Mirae Asset Global Investments (India) Private Limited (AMC)

Mr. B. N. Chakraborty Director (Independent)

Mr. Yogesh Chaddha Director (Independent)

Mr. Jisang Yoo Director (Associate) & Chief Executive Officer

Mr. Thomas Jefferson Park Director (Associate)

Sponsor:Mirae Asset Global Investments Company LimitedRegistered office: East Tower 18F, Mirae Asset CENTER 1, 67 Suha-dong, Jung-gu, Seoul, KOREA 100-210

Asset Management Company:Mirae Asset Global Investments (India)Private Limited Registered & Corporate Office: Unit No.606, Windsor Building, Off. C.S.T. Road, Kalina, Santacruz (East),Mumbai - 400 098.

Custodians:Standard Chartered Bank23-25 Mahatma Gandhi Road, Fort, Mumbai - 400 001.

Citibank NA Securities & Fund Services, Citi India, 3rd Floor, Trent House, Plot No.G-60, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051.

Statutory Auditor:Chokshi & Chokshi15/17, Raghavji ‘B’ Bldg., Gowalia Tank, Off. Kemps Corner,Mumbai - 400 036.

Registrar & Transfer Agent:Karvy Computershare Private LimitedKarvy Plaza; H. No.8-2-596, Avenue 4, Street No.1,Banjara Hills, Hyderabad - 500 034.

Trustee:Mirae Asset Trustee Company Private Limited

Registered Office: Unit No.606, Windsor Building, Off. C.S.T Road, Kalina, Santacruz (East), Mumbai - 400 098.

MIRAE ASSET MUTUAL FUND BRANCH OFFICES -l Ahmedabad-107, 1st Floor, Abhijeet I, Mithakhali Six Roads, Mithakhali Circle, Navrangpura, Near HDFC Bank, Ahmedabad-380009. Tel-079-44227777. l Asansol-M/s. Safe Savings, Street No.1, House No.2, Hindustan Park, Asansol-713304. l Bangalore-Prestige Meridian-II, Flat No.308, 2nd Floor, No.29, M. G. Road, Bangalore-560001. Tel-080-44227777. l Chennai-Premises No.206, Challa Mall, 11-11 A, Sir Theyagaraya Road, T. Nagar, Chennai -600017. Tel-044-44227777. l Kanpur-1st Floor, Shop No.111, KAN Chambers, 14/113, Civil Lines, Kanpur, Uttar Pradesh-208001. Tel-0512-3012896. l Kolkata-Krishna Building, Room No.510, 5th Floor, 224 A. J. C. Bose Road, Beck Bagan Junction, Kolkata-700 017. Tel-033-44227777. l Mumbai (Corporate Office)-Unit No.606, 6th Floor, Windsor Bldg., Off. CST Road, Kalina, Santacruz (E), Mumbai- 400 098. Tel-022-67800300. l New Delhi-Office No.1010, 10th Floor, Indraprakash Building, 21 Barakhamaba Road, Connaught Place, New Delhi-110001. Tel-011-44227777. l Pune-74, ‘C’ Wing, 4th Floor, Sreenath Plaza, Dnyaneshwar Paduka Chowk, F. C. Road, Shivaji Nagar, Pune-411005. Tel-020-44227777.

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TRUSTEE REPORT OF MIRAE ASSET MUTUAL FUND FOR THE YEAR ENDED MARCH 31, 2014.

Dear Unit holder,The Trustee Company presents its Seventh report and the audited financial statements of the Schemes of Mirae Asset Mutual Fund (the “Fund”), for the year ended March 31, 2014.

MIRAE ASSET MUTUAL FUNDAs of March 31, 2014, Mirae Asset Global Investments (India) Pvt. Ltd., Asset Management Company (the AMC) managed 9 schemes of Mirae Asset Mutual Fund. The break-up being 4 open-ended equity schemes, 1 open-ended fund of funds scheme, 3 open-ended liquid/ debt schemes and 1 close ended debt scheme.Among the key achievements, Mirae Asset Mutual Fund recorded an impressive growth of 50% in FY 14 with the Assets under management (AUM) growing from Rs. 523.67 crores to Rs. 787.91 crores (as on 31st March, 2014) against the backdrop of a very challenging business environment. The overall Mutual Fund Industry AUM grew by 10.8% during the same period. We have also seen some flows into our fixed income funds. We successfully launched our first fixed maturity plan, Mirae Asset Fixed Maturity Plan - Series I - 368 days during the financial year FY14. The above incremental growth in assets has been driven by decent fund performance displayed by its equity schemes. The performance has been equally encouraging with our flagship equity scheme, Mirae Asset India Opportunities Fund outperforming its benchmark S&P BSE 200 by 8.70% whilst Mirae Asset Emerging Bluechip Fund outpacing its benchmark CNX Midcap by 18.98% during the same period. Both Mirae Asset India Opportunities Fund and Mirae Asset Emerging Bluechip Fund have received various recognitions from leading publications and rating agencies. Both the funds are on the verge of achieving important AUM milestones, which will make them qualified to be sold by many leading banks and wealth outfits. This will help in faster AUM growth in the next financial year. Our Investor folio count currently stands at 56,806 (as on 31st March, 2014) slightly lower than the 57,350 folios as on 31st March 2013. Mirae Asset SIP book stands at 16,098 accounts (as on 31st March, 2014) with a 4.2% growth since March 2013 count of 15,444.The Fund house also declared dividends under its various equity schemes as highlighted below. It was the 5th consecutive dividend in Mirae Asset India Opportunities Fund (based on financial year).

Fund NameDividend Amount

(Rs. per unit)Record Date

Mirae Asset India Opportunities Fund 1.20 27/01/2014

Mirae Asset Emerging Bluechip Fund 1.20 18/03/2014

Past Performance is no guarantee of future results. Scheme Performance, Future Outlook and Operations of the Schemes

1. PERFORMANCE OF THE SCHEMES FOR THE PERIOD ENDED MARCH 31, 2014.(I) MIRAE ASSET INDIA OPPORTUNITIES FUND (MAIOF), an open ended equity oriented scheme The investment objective of the scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing

in equities, equity related securities. There is no assurance or guarantee of returns. The fund investment philosophy is to invest across sectors in quality companies which could deliver decent growth. The year was challenging for markets, and the fund

focuses on bottom up approach for stock picking to help generate consistent outperformance over the benchmark. The investment strategy is focused on high quality businesses, which can withstand current domestic and global headwinds.

The net assets of Mirae Asset India Opportunities Fund stood at Rs.416.13 Crores as at March 31, 2014. As at March 31, 2014, out of the total net assets, 95.98% was invested in equity shares, 0.61% in mutual fund and balance in CBLO and others. Comparison of the performance of Mirae Asset India Opportunities Fund with benchmark returns as on 31st March, 2014:-

Period

NAV at the end of the period

(Rs. per unit)

Returns Value(INR)

MAIOF BSE 200 Sensex** MAIOF BSE 200 Sensex**

31st March 2013 - 31st March 2014& 22.060 25.90% 17.19% 18.85% 12,590 11,719 11,885

31st March 2012 - 31st March 2013& 17.522 8.32% 6.03% 8.23% 10,832 10,603 10,823

31st March 2011 - 31st March 2012& 16.176 -2.79% -9.28% -10.50% 9,721 9,072 8,950

Since Inception (CAGR) - 31st March 14 22.060 14.12% 5.93% 6.51% 22,060 14,123 14,590

Index Value (31st March, 2014) Index Value of BSE 200 is 2,681.35 and Index value of Sensex is 22,386.27

Date of allotment 04-Apr-08

Scheme Benchmark BSE 200

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. Returns provided are of Regular Plan – Growth Option. As per SEBI standard on performance disclosure, returns in INR terms based on a standard investment of Rs.10,000/- have been shown only for Schemes that have been in existence for more than three years. & represents absolute returns. ** represents Alternate Scheme Benchmark.

7th Annual Report 2013 - 2014

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(II) MIRAE ASSET EMERGING BLUECHIP FUND (MAEBF), an open ended equity fund The fund investment philosophy is to invest across sectors in high-quality scalable mid-sized companies which could deliver decent growth. The year was challenging

for markets and the fund focuses on bottom up approach for stock picking to help generate consistent outperformance over the benchmark. The investment strategy is focused on high quality businesses, which can withstand current domestic and global headwinds.

The net assets of Mirae Asset Emerging Bluechip Fund stood at Rs.230.54 Crores as at March 31, 2014. As at March 31, 2014, 94.04% of the net assets were invested in equity shares and balance in CBLO and others. Comparison of the performance of Mirae Asset Emerging Bluechip Fund with benchmark returns as on 31st March, 2014:-

Period


(Rs. per unit)

Returns Value(INR)

MAEBFCNX

Midcap Sensex** MAGCSFCNX

Midcap Sensex**

31st March 2013 - 31st March 2014& 17.164 35.34% 16.36% 18.85% 13,534 11,636 11,885

31st March 2012 - 31st March 2013& 12.682 9.62% -4.02% 8.23% 10,962 9,598 10,823

31st March 2011 - 31st March 2012& 11.569 7.73% -4.09% -10.50% 10,773 9,591 8,950

Since Inception (CAGR)- 31st March 14 17.164 15.59% 0.99% 6.29% 17,164 10,375 12,553

Index Value (31st March, 2014) Index Value of CNX Midcap is 8,612.45 and Index value of Sensex is 22,386.27

Date of allotment 09-Jul-10

Scheme Benchmark CNX Midcap

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. Returns provided are of Regular Plan - Growth Option. As per SEBI standard on performance disclosure, returns in INR terms based on a standard investment of Rs.10,000/- have been shown only for Schemes that have been in existence for more than three years. & represents absolute returns. ** represents Alternate Scheme Benchmark.

(III) MIRAE ASSET INDIA-CHINA CONSUMPTION FUND (MAICCF), an open ended equity oriented scheme The objective of the fund is to capitalize on long term secular theme related to consumption trend in India and China. The focus has been on secular and scalable

businesses which would benefit from changing demographics, rising aspiration and other consumption related themes. The net assets of Mirae Asset India-China Consumption Fund stood at Rs.19.89 Crores as at March 31, 2014. As at March 31, 2014, 96.47% of the net assets were invested in equity shares and balance in CBLO and others. Comparison of the performance of Mirae Asset India-China Consumption Fund with benchmark returns as on 31st March, 2014:-

Period


(Rs. per unit)

Return Value (INR)

MAICCF

S&P India & China

Weighted Index Sensex** MACAF

S&P India & China

Weighted Index Sensex**

31st March 2013 - 31st March 2014& 15.402 24.73% 23.86% 18.85% 12,473 12,386 11,885

31st March 2012 - 31st March 2013& 12.348 12.58% 13.20% 8.23% 11,258 11,320 10,823

31st March 2011 - 31st March 2012& 10.968 9.02% 12.52% -10.50% 10,902 11,252 8,950

Since Inception (CAGR)- 31st March 14 15.402 15.44% 16.98% 5.38% 15,402 16,029 11,708

Index Value (31st March, 2014) Index Value of benchmark is 166.937 and Index value of Sensex is 22386.27

Date of allotment 29-March 2011

Scheme Benchmark S&P India & China Weighted Index

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. Returns provided are of Regular Plan - Growth Option. As per SEBI standard on performance disclosure, returns in INR terms based on a standard investment of Rs.10,000/- have been shown only for Schemes that have been in existence for more than three years. & represents absolute returns. ** represents Alternate Scheme Benchmark.

(IV) MIRAE ASSET GLOBAL COMMODITY STOCKS FUND (MAGCSF), an open ended equity fund The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related

securities of companies that are engaged in commodity and commodities related sectors/sub sectors/ industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets. There is no assurance or guarantee of returns.

The Fund offers investors access to commodity as an asset class by way of investments into commodity stocks of leading global companies involved directly or indirectly with the commodities business. The fund primarily invests in stocks in Asia Pacific markets and emerging markets thus offering investors an avenue to diversify beyond local boundaries.

The net assets of Mirae Asset Global Commodity Stocks Fund stood at Rs.13.15 Crores as at March 31, 2014. As at March 31, 2014, 98.35% of the net assets were invested in equity shares and balance in CBLO.

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Comparison of the performance of Mirae Asset Global Commodity Stocks Fund with benchmark returns as on 31st March, 2014:-

Period

NAV at the end of the period (Rs. per unit)

Returns Value(INR)

MAGCSF

S&P Pan Asia Large Midcap Commodity & Resource Capped

Index Sensex** MAGCSF

S&P Pan Asia Large Midcap Commodity & Resource Capped

Index Sensex**

31st March 2013 - 31st March 2014& 11.980 4.11% -12.32% 18.85% 10,411 8,768 11,885

31st March 2012 - 31st March 2013& 11.507 -4.48% -5.02% 8.23% 9,552 9,498 10,823

31st March 2011 - 31st March 2012& 12.047 -10.10% -10.05% -10.50% 8,990 8,995 8,950


Index Value (31st March, 2014) Index Value of benchmark is 103.238 and Index value of Sensex is 22,386.27

Date of allotment 20-Aug-08

Scheme Benchmark S&P Pan Asia Large Midcap Commodity & Resource Capped Index

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. Returns provided are of Regular Plan - Growth Option. As per SEBI standard on performance disclosure, returns in INR terms based on a standard investment of Rs.10,000/- have been shown only for Schemes that have been in existence for more than three years. & - represents absolute returns. ** represents Alternate Scheme Benchmark.

(V) MIRAE ASSET CHINA ADVANTAGE FUND (MACAF), an open ended fund of funds scheme The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund

and/or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/ liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns.

The fund gives investors an opportunity to invest in China companies with high investment potential. The emphasis on market leaders gives the fund a bias towards large/mid-cap names. Fund is positioned to take advantages of the growth opportunities related to the secular and structural changes in China.

The net assets of Mirae Asset China Advantage Fund stood at Rs.26.57 Crores as at March 31, 2014. As at March 31, 2014, 98.53% of the net assets were invested in equity shares and balance in CBLO and others. Comparison of the performance of Mirae Asset China Advantage Fund with benchmark returns as on 31st March, 2014:-

Period


(Rs. per unit)

Returns Value(INR)

MACAF MSCI China (INR) Sensex** MACAF MSCI China (INR) Sensex**

31st March 2013 - 31st March 2014& 12.950 17.93% 8.84% 18.85% 11,793 10,884 11,885

31st March 2012 - 31st March 2013& 10.981 8.01% 10.50% 8.23% 10,801 11,050 10,823

31st March 2011 - 31st March 2012& 10.167 -8.22% -2.77% -10.50% 9,178 9,723 8,950


Index Value (31st March, 2014) Index value for benchmark is 459.551 and Index value of Sensex is 22,386.27

Date of allotment 5-Nov-09

Scheme Benchmark MSCI China(INR)


(VI) MIRAE ASSET CASH MANAGEMENT FUND (MACMF), AN OPEN ENDED LIqUID FUND MACMF is an open ended liquid scheme. This scheme is meant for investors to deploy their funds for a short period of time. The investment objective of the scheme

is to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money market and debt instruments. The Scheme does not guarantee any returns.

The net assets of Mirae Asset Cash Management Fund stood at Rs.20.52 Crores as at March 31, 2014. As at March 31, 2014, 87.78% of the net assets were invested in money market and balance in CBLO and others.


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Comparison of the performance of Mirae Asset Cash Management Fund with benchmark returns as on 31st March, 2014:-

PeriodNAV at the end of the period

(Rs. per unit)

Returns

MACMF CRISIL Liquid Fund Index Crisil 91 day T-Bill

Last 7 Days till 31st March 2014 1359.6797 0.12% 0.06% 0.07%



31st March 2013 - 31st March 2014& 1359.6797 8.46% 9.25% 8.41%

31st March 2012 - 31st March 2013& 1253.6599 7.69% 8.22% 8.50%

31st March 2011 - 31st March 2012& 1164.1730 7.55% 8.47% 6.99%

Since Inception(CAGR) - 31st March 14 1359.6797 6.08% 7.20% 6.04%

Since Inception - 31st March 14 (Value INR)* 1359.6797 13,596.80 14,363.10 13,569.67

Index Value ( 31st March, 2014) Index Value of benchmark is 2,125.1959 and Index value of Crisil 91 day T-Bill is 3,719.1416

Date of allotment 12 January, 2009

Scheme Benchmark CRISIL Liquid Fund Index


Note : Mirae Asset Liquid Fund have been merged with Mirae Asset Cash Management Fund vide SEBI’s no objection letter No.OW/14398/2013 dated June 14, 2013. Mirae Asset Liquid Fund has ceased to exist and no fresh purchase/switch in applications will be accepted of Mirae Asset Liquid Fund with effect from 31st July, 2013.

(VII) MIRAE ASSET ULTRA SHORT TERM BOND FUND (MAUSTBF), an open ended debt fund MAUSTBF is an open ended debt scheme. This scheme is meant for investors to deploy their funds for a short period of time. The investment objective of the scheme

is to seek to generate returns with low volatility and higher liquidity through a portfolio of debt and money market instruments. The Scheme does not guarantee any returns.

The net assets of Mirae Asset Ultra Short Term Bond Fund stood at Rs.22.28 crores as at March 31, 2014. As at March 31, 2014, 70.481% of the net assets were invested in money market instruments, 5.94% in mutual funds units and balance in CBLO and others. Comparison of the performance of Mirae Asset Ultra Short Term Bond Fund with benchmark returns as on 31st March, 2014:-

Period


(Rs. per unit)

Returns

MAUSTBFCRISIL Liquid Fund

IndexCrisil 1 Year

T-Bill

31st March 2013 - 31st March 2014& 1363.3058 8.03% 9.25% 5.60%

31st March 2012 - 31st March 2013& 1261.9694 8.36% 8.22% 8.37%

31st March 2011 - 31st March 2012& 1164.6088 7.26% 8.47% 6.61%

Since Inception (CAGR)- 31st March 14 1363.3058 3.81% 6.82% 5.29%


Index Value (31st March, 2014) Index Value of benchmark is 2,125.1959 and Index value of Crisil 1 Year T-Bill is 3,795.7103

Date of allotment 5th March, 2008

Scheme Benchmark CRISIL Liquid Fund Index


(VIII) MIRAE ASSET SHORT TERM BOND FUND (MASTBF), an open ended debt fund MASTBF is an open ended debt scheme. The primary investment focus of the scheme is to seek to generate returns through an actively managed diversified portfolio

of debt and money market instruments. The scheme does not guarantee any returns. The net assets of Mirae Asset Short Term Bond Fund stood at Rs.17.83 crores as at March 31, 2014. As at March 31, 2014, 85.26% of the net assets were invested in money market instruments, 12.51% in mutual funds units and balance in CBLO and others.

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Comparison of the performance of Mirae Asset Short Term Bond Fund with benchmark returns as on 31st March, 2014:-

Period NAV at the end of the period

(Rs. per unit)

Returns

MASTBF CRISIL Short Term Bond Fund Index Crisil 1 Year T-Bill

31st March 2013 - 31st March 2014& 13.0878 8.00% 8.58% 5.60%

31st March 2012 - 31st March 2013& 12.1186 7.38% 9.10% 8.37%

31st March 2011 - 31st March 2012& 11.2853 6.80% 8.13% 6.61%

Since Inception (CAGR)- 31st March 14 13.0878 4.66% 6.18% -3.10%


Index Value (31st March, 2014) Index Value of benchmark is 2,201.6369 and Index value of Crisil 1 Year T-Bill is 3,795.7103

Date of allotment 3rd August, 2009

Scheme Benchmark CRISIL Short Term Bond Fund Index


(IX) MIRAE ASSET FIXED MATURITY PLAN - SERIES I - 368 DAYS (MAFMP - I - 368D), a close ended debt fund MAFMP - I - 368D is a close ended debt scheme. The investment objective of the Plans under the Scheme is to generate income through investments in Debt and

Money Market Instruments maturing on or before the maturity date of the respective Plan(s). The Scheme does not guarantee or assure any return. The net assets of Mirae Asset Fixed Maturity Plan - Series I - 368 Days stood at Rs.20.41 crores as at March 31, 2014. As at March 31, 2014, 99.98% of the net assets were invested in money market instruments and 0.02% in mutual funds units.

2. FUTURE OUTLOOK OF THE FUND AND OPERATIONS OF THE SCHEMES The Mutual Fund industry comprises of 46 mutual funds. The Mutual Fund Industry AAUM stood at Rs.905,120/- crores (as on 31st March, 2014), a growth of 10.8% from

Rs.816,657/- crores as on 31st March 2013. The AUM grew with strong flows witnessed in Income Funds & FMP’s. Mirae Asset Mutual Fund recorded an impressive growth of 28% in FY 14. Mirae Asset Mutual Fund has presently a total of 9 schemes in its product basket with a mix of equity, liquid, debt and fund of funds schemes.

Mirae Asset funds have received various recognitions from leading publications and rating agencies. Mirae Asset India has been on the forefront in terms of introducing differentiated products to meet the asset allocation needs of its investors. We hope to build on our existing product basket and offer more differentiated products in the coming years. We hope to continue to deliver superior risk adjusted returns to investors and help create long term wealth.

On the distribution front too, Mirae Asset India has taken steps and has tied-up with some of the best names in the distribution domain. The fund house has ensured a prudent mix of distribution partners from IFAs (currently around 6,000 IFA distributors empanelled), Banks and National distributors. This has ensured that the distribution model is de-risked as well as equipped to take advantages of market opportunities. We want the number to cross 10,000 IFA’s across various locations by the next financial year. Both our flagship funds Mirae Asset India Opportunities Fund & Mirae Asset Emerging Bluechip Fund are on the verge of achieving important AUM milestones, which will make them qualified to be sold by many leading banks and wealth outfits. This will help in faster AUM growth in the next financial year.

Mirae Asset Mutual Fund is working on leveraging its global presence to raise funds from foreign investors in Mirae Asset Funds and for providing advisory services. With our domestic funds exhibiting robust performance track record, Mirae Asset Mutual Fund is trying to get institutional mandates as well.

Mirae Asset India has been able to turn challenges into opportunities and in this short time since inception has started making operating year to year profits. As we embark our journey into the new fiscal, we aim at a high octane year of growth through a combination of unique products and superior performance for the

investors. Our goal in the long term is to become one of major players in the Indian Mutual Fund Industry with a complete product basket across asset classes and deliver superior risk adjusted returns to our investors.

INVESTOR SERVICES The Schemes of Mirae Asset Mutual Fund have delivered reasonable adjusted returns to investors. In our endeavor to strengthen the services for investor services to

provide them quality and timely service, we have redesign the website of Mirae Asset Mutual Fund, to make it more user friendly, ease to navigate and provides huge knowledge content on markets and financial terms.

We have strengthen our Online services and to make transacting with us a seamless process allowing the investors to transact in our funds through our website in a seamless manner. To keep the investor informed of his investments, we regular send transaction updates to investors through email/mobile (based on the details filled at the time of account opening). We have a dedicated customer service team, Toll Free number and email id for servicing all investor queries at the earliest. Further, there have been initiatives to inform all Investors and Distributors about the latest regulatory changes that have happened in the industry.

In our endeavor to educate our investors regularly we have set up Mirae Asset Knowledge Academy. The sole purpose is to increase investor education and knowledge levels. We are arranging Investor Awareness Programs through our partners in all our cities or presence, to increase knowledge levels of investors. We have released investor booklets, contribute articles in financial websites and national publications to explain financial terms in a simple languages. We share newsletters and mailers to our investors on key financial terms, every week.

Details of Investor Complaints: The Fund is also prompt in redressing the complaints/requests received from the investors. The Statement on Status of Redressal of Complaints received against Mirae Asset Mutual Fund during the financial year 2013-14 is annexed and forms part of the Trustee Report as Annexure II.

Dividenddeclaredduringthefinancialyear2013-2014: The Plan/Option wise per unit NAV particulars of various schemes as on 31st March, 2014^ as well as the details of dividends declared during the period

under review are as under:-

MIRAE ASSET INDIA OPPORTUNITIES FUND (in Rs.)

Scheme DescriptionNAV per unit

March 31, 2014

Dividend Per Unit

INDIVIDUAL NON INDIVIDUAL

Mirae Asset India Opportunities Fund - Regular - Dividend Plan 13.373 1.2 1.2

Mirae Asset India Opportunities Fund - Regular - Growth Plan 22.060 NA NA

Mirae Asset India Opportunities Fund - Direct - Dividend Plan 16.640 NIL NIL

Mirae Asset India Opportunities Fund - Direct - Growth Plan 22.339 NA NA

NA - Not Applicable


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MIRAE ASSET GLOBAL COMMODITY STOCKS FUND (in Rs.)


March 31, 2014

Dividend Per Unit


Mirae Asset Global Commodity Stocks Fund - Regular - Dividend Option 11.980 NIL NIL

Mirae Asset Global Commodity Stocks Fund - Regular -Growth Option 11.980 NA NA

Mirae Asset Global Commodity Stocks Fund - Direct - Dividend Option 12.059 NIL NIL

Mirae Asset Global Commodity Stocks Fund - Direct - Growth Option 12.059 NA NA

NA - Not Applicable

MIRAE ASSET CHINA ADVANATGE FUND (in Rs.)


March 31, 2014

Dividend Per Unit


Mirae Asset China Advantage Fund - Regular - Dividend Option 12.950 NIL NIL

Mirae Asset China Advantage Fund - Regular - Growth Option 12.950 NA NA

Mirae Asset China Advantage Fund - Direct - Dividend Option 13.049 NIL NIL

Mirae Asset China Advantage Fund - Direct - Growth Option 13.049 NA NA

NA - Not Applicable

MIRAE ASSET EMERGING BLUECHIP FUND (in Rs.)


March 31, 2014

Dividend Per Unit


Mirae Asset Emerging Bluechip Fund - Regular - Dividend Option 14.431 1.2 1.2

Mirae Asset Emerging Bluechip Fund - Regular - Growth Option 17.164 NA NA

Mirae Asset Emerging Bluechip Fund - Direct - Dividend Option 15.895 NIL NIL

Mirae Asset Emerging Bluechip Fund - Direct - Growth Option 17.396 NA NA

NA - Not Applicable

MIRAE ASSET INDIA-CHINA CONSUMPTION FUND (in Rs.)


March 31, 2014

Dividend Per Unit


Mirae Asset India-China Consumption Fund - Regular - Dividend Option 12.604 1.1 1.1

Mirae Asset India-China Consumption Fund - Regular - Growth Option 15.402 NA NA

Mirae Asset India-China Consumption Fund - Direct - Dividend Option 15.604 NIL NIL

Mirae Asset India-China Consumption Fund - Direct - Growth Option 15.604 NA NA

NA - Not Applicable

MIRAE ASSET CASH MANAGEMENT FUND (in Rs.)


March 28, 2014^

Dividend Per Unit


Mirae Asset Cash Management Fund - Regular - Daily Dividend Plan 1052.5480 32.2389 30.8758

Mirae Asset Cash Management Fund - Regular - Weekly Dividend Plan 1138.2765 35.3583 33.8610

Mirae Asset Cash Management Fund - Regular - Monthly Dividend 1138.6519 35.2441 33.7540

Mirae Asset Cash Management Fund - Regular - Growth 1359.6797 NA NA

Mirae Asset Cash Management Fund - Direct - Daily Dividend 1061.4088 32.1577 30.7981

Mirae Asset Cash Management Fund - Direct - Growth 1361.9680 NA NA

Mirae Asset Cash Management Fund - Direct - Weekly Dividend 1184.6071 35.4647 33.9652

NA – Not Applicable

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MIRAE ASSET ULTRA SHORT TERM BOND FUND (in Rs.)


March 28, 2014^

Dividend Per Unit


Mirae Asset Ultra Short Term Bond Fund - Regular - Growth 1,363.3058 NA NA

Mirae Asset Ultra Short Term Bond Fund - Regular - Monthly Dividend 1,302.6071 NIL NIL

Mirae Asset Ultra Short Term Bond Fund - Regular - Daily Dividend 1,299.4717 NIL NIL

Mirae Asset Ultra Short Term Bond Fund - Regular - Weekly Dividend 1,299.4211 NIL NIL

Mirae Asset Ultra Short Term Bond Fund - Institutional - Growth Option 1,149.9340 NA NA

Mirae Asset Ultra Short Term Bond Fund - Institutional - Dividend Plan (Quarterly) 1,038.7654 31.8332 30.4873

Mirae Asset Ultra Short Term Bond Fund - Institutional - Monthly Dividend 1,072.2080 29.0263 27.7991

Mirae Asset Ultra Short Term Bond Fund - Institutional - Weekly Dividend 1,093.0431 20.5531 19.6842

Mirae Asset Ultra Short Term Bond Fund - Institutional - Daily Dividend 1,009.8172 28.6700 27.4578

Mirae Asset Ultra Short Term Bond Fund - Direct - Growth 1,158.0949 NA NA

Mirae Asset Ultra Short Term Bond Fund - Direct - Monthly Dividend 1,125.4477 NIL NIL

Mirae Asset Ultra Short Term Bond Fund - Direct - Quarterly Dividend 1,061.2494 35.2074 33.7189

Mirae Asset Ultra Short Term Bond Fund - Direct - Daily Dividend 1,049.0261 NIL NIL

Mirae Asset Ultra Short Term Bond Fund - Direct - Weekly Dividend 1,127.6507 NIL NIL

NA – Not Applicable

MIRAE ASSET SHORT TERM BOND FUND (in Rs.)


March 28, 2014^

Dividend Per Unit


Mirae Asset Short Term Bond Fund - Regular - Growth 13.0878 NA NA

Mirae Asset Short Term Bond Fund - Regular - Quarterly Dividend 12.5264 0.1870 0.1791

Mirae Asset Short Term Bond Fund - Regular - Monthly Dividend 10.2264 0.2944 0.2820

Mirae Asset Short Term Bond Fund - Regular - Weekly Dividend 10.2472 0.2771 0.2653

Mirae Asset Short Term Bond Fund - Direct - Growth 13.1708 NA NA

Mirae Asset Short Term Bond Fund - Direct - Quarterly Dividend 12.8522 NIL NIL

Mirae Asset Short Term Bond Fund - Direct - Weekly Dividend 11.2259 NIL NIL

NA - Not Applicable

MIRAE ASSET FIXED MATURITY PLAN - SERIES I - 368 DAYS (in Rs.)


March 28, 2014^

Dividend Per Unit


Mirae Asset Fixed Maturity Plan - Series I - 368 Days - Regular - Growth 10.1303 NA NA

Mirae Asset Fixed Maturity Plan - Series I - 368 Days - Direct - Growth 10.1342 NA NA

Mirae Asset Fixed Maturity Plan - Series I - 368 Days - Direct - Dividend 10.1342 NIL NIL

^ Last Business Day for the financial year 2013 – 2014

NIL - Dividend not declared during the period under review i.e. 1st April, 2013 to 31st March, 2014. NA - Dividend option not applicable for scheme/ plan/ option Pursuant to the declaration of dividend, the NAV of the dividend option of the Scheme falls to the extent of the dividend pay-out and distribution tax, if any. For daily dividends, cumulative dividend for a plan is indicated with record date as the month of dividend and the ex-dividend NAV as on March 28, 2014. Past performance may or may not be sustained in future.

3. BRIEF BACKGROUND OF THE TRUST, SPONSORS, TRUSTEE AND ASSET MANAGEMENT COMPANY

(a) Mirae Asset Mutual Fund (MAMF) (The Mutual Fund): Mirae Asset Mutual Fund (MAMF) was set up as a Trust by the Settlers, Mirae Asset Global Investments Company Limited (MAGIC) on 11th October, 2007 with Mirae

Asset Trustee Company Private Limited (the Trustee Company) as a Trustee in accordance with the provisions of the Indian Trust Act, 1882 and is duly registered under the Indian Registration Act, 1908. The Trustee has entered into an Investment Management Agreement dated 11th October, 2007 with Mirae Asset Global Investments (India) Private Limited (the AMC) to function as the Investment Manager for all the Schemes of MAMF. MAMF was registered with SEBI on 30th November, 2007.

(b) Mirae Asset Global Investments Company Limited (MAGICL) (The Sponsor): Mirae Asset Global Investments Company Limited (MAGICL) is a part of Mirae Asset Financial Group (Mirae Asset). Mirae Asset was established in 1997 and is South

Korea’s leading independent financial services provider. With Asset Management as its core activity, Mirae Asset is engaged in a broad range of financial services including Investment Banking, Wealth Management and Life Insurance. Other significant activities of the group include Alternate Investment including Private Equity, Venture Capital and Real Estate.


10

(c) Mirae Asset Trustee Company Private Limited (The Trustee): The Trustee is the exclusive owner of the Trust Fund and holds the same in trust for the benefit of the unitholders. The Trustee has been discharging its duties and

carrying out the responsibilities as provided in the Regulations and the Trust Deed. The Trustee seeks to ensure that the Fund and the Schemes floated there under are managed by the AMC in accordance with the Trust Deed, the Regulations, directions and guidelines issued by the SEBI, the Stock Exchanges, the Association of Mutual Funds in India and other regulatory agencies.

Share Capital: During the year under review, Mirae Asset Trustee Company Private Limited has not issued any further shares. Change in Composition of Board Members: During the year under review, there has been no change in the composition of the Board of Directors of the Trustee Company. As required by the Securities and

Exchange Board of India (Mutual Funds) Regulations, 1996, the Board of Trustee comprises two-thirds of the Directors who are not associated in any manner with the Sponsors of Mirae Asset Mutual Fund.

(d) Mirae Asset Global Investments (India) Private Limited (The AMC): Mirae Asset Global Investments (India) Private Limited, a company registered under the Companies Act, 1956 and having its registered office at Unit 606, 6th Floor,

Windsor, off CST Road, Kalina, Santacruz (E), Mumbai - 400098. Mirae Asset Global Investments (India) Private Limited has been appointed as the Asset Management Company (AMC) of Mirae Asset Mutual Fund by the Trustee vide. Investment Management Agreement (“IMA”) dated October 11, 2007 entered into between Mirae Asset Trustee Company Private Limited and Mirae Asset Global Investments (India) Private Limited. The Investment Manager was approved by SEBI to act as the AMC for the Fund vide letter no. IMD/HSV/OTW/109716/2007 dated 30th November, 2007.

Share Capital: During the year under review, Mirae Asset Global Investments (India) Private Limited has not issued any further shares.

Change in Composition of Board Members: During the year under review, following were the changes in the composition of the Board of Directors of the AMC: 1. Dr. Manoj Vaish was appointed on Board of AMC on August 8, 2013 and has ceased to be an Independent Director with effect from January 25, 2014. 2. Mr. N. N. Jambusaria has ceased to be an Independent Director from the Board of the AMC with effect from August 27, 2013 3. Mr. Yogesh Chaddha has been appointed as an Independent Director on the Board of the AMC with effect from March 25, 2014 As required under the provisions of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, 50% of the Directors on the Board of Mirae Asset

AMC are independent Directors who are not an associate of, or associated in any manner with the sponsor or any of its subsidiaries or the Trustee Company. Investors may note that the Full Annual Report shall be disclosed on the website (www.miraeassetmf.co.in) and shall also be available for inspection at the Head Office

of the Mutual Fund. On written request present and prospective unit holders/ investors can obtain a copy of the Trust Deed, the Annual Report at a price and the text of the relevant Scheme.

The Balance Sheet as at 31st March, 2014 and the Revenue Account for the year ended 31st March, 2014 for the various schemes are annexed to this Report.

4. INVESTMENT OBJECTIVE OF THE SCHEMES:

i. Mirae Asset India Opportunities Fund: The investment objective of the scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing

in equities, equity related securities. The Scheme does not guarantee any returns.

ii. Mirae Asset Global Commodity Stocks Fund: The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related

securities of companies that are engaged in Commodity and commodities related sectors/ sub sectors/ industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets. There is no assurance or guarantee of returns.

iii. Mirae Asset China Advantage Fund: The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity

Fund and/ or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/ or units of debt/ liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns.

iv. Mirae Asset Emerging Bluechip Fund: The investment objective of the scheme is to generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity

related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs.100 Crores at the time of investment. From time to time, the fund manager may also seek participation in other Indian equity and equity related securities to achieve optimal portfolio construction. The Scheme does not guarantee or assure any returns.

v. Mirae Asset India-China Consumption Fund: The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related

securities of companies that are likely to benefit either directly or indirectly from consumption led demand in India / China. The Scheme does not guarantee or assure any returns.

vi. Mirae Asset Cash Management Fund: The investment objective of the scheme is to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money market and debt

instruments. The Scheme does not guarantee any returns.

vii. Mirae Asset Short Term Bond Fund: The investment objective of the scheme is to seek to generate returns through an actively managed diversified portfolio of debt and money market instruments. There

is no assurance OR guarantee of returns.

viii. Mirae Asset Ultra Short Term Bond Fund: The investment objective of the scheme is to seek to generate returns with low volatility and higher liquidity through a portfolio of debt and money market instruments.

The Scheme does not guarantee any returns.

http://www.miraeassetmf.co.in


11

ix. Mirae Asset Fixed Maturity Plan - Series I - 368 days: The investment objective of the Plans under the Scheme is to generate income through investments in Debt and Money Market Instruments maturing on or before the

maturity date of the respective Plan(s). The Scheme does not guarantee or assure any return.

5. SIGNIFICANT ACCOUNTING POLICIES: The Significant Accounting Policies form part of the Notes to the Accounts annexed to the Balance Sheet of the Schemes. The Accounting Policies are in accordance

with Securities Exchange Board of India (Mutual Funds) Regulations, 1996.

6. UNCLAIMED REDEMPTIONS & DIVIDENDS: Summary of No. of Investors & Corresponding amount as at March 31, 2014:

Name of the Scheme Unclaimed Redemptions Unclaimed Dividends

Amount (Rs.) No. of Investors Amount (Rs.) No. of Investors

Mirae Asset India Opportunities Fund 2,490,776.99 59 569,532.49 178

Mirae Asset Global Commodity Stocks fund 360,576.08 16 2,200.00 1

Mirae Asset Emerging Bluechip Fund 305,444.39 10 0 0

Mirae Asset India-China Consumption Fund 38,508.19 6 0 0

Mirae Asset China Advantage Fund 27,916.67 5 0 0

Mirae Asset Ultra Short Term Bond fund 38,765.62 1 0 0

Mirae Asset Short Term Bond Fund 0 0 0 0

Mirae Asset Cash Management Fund 47,765.28 2 0 0

7. STATUTORY INFORMATION: (a) The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes of the Fund beyond their initial contribution (to the extent

contributed) of Rs.1 Lakh for setting up the Fund, and such other accretions / additions to the same. (b) The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market value of its underlying investments. (c) Full Annual Report is available on the website (www.miraeassetmf.co.in) and shall be available for inspection at the Head Office of the mutual fund. Present and

prospective unit holder can obtain copy of the trust deed, the full Annual Report of the Fund / AMC at a price.

For Mirae Asset Trustee Company Private Limited

Sd/- Sd/- V. B. Haribhakti S. T. Gerela Chairman Director

Place : Mumbai Date : July 14, 2014


12

Performance (CAGR) as on March 31, 2014 (in %)

1 year 3 years 5 years Since inception

of fund Mirae Asset Emerging Blue Chip Fund - Direct Plan - Growth Option 36.47 N.A N.A 18.94 Mirae Asset Emerging Blue Chip Fund - Regular Plan - Growth Option 35.01 16.90 N.A 15.59 BenchmarkCNX Midcap 16.22 2.32 N.A 0.99 Past performance may or may not be sustained in the future. The Scheme had outperformed its benchmark on 1 year basis majorly due to better Stock picking in Pharma, Banking & IT Sector. Also the performance since inception continues to be healthy.Date of Inception: Regular Growth: July 09, 2010; Direct Growth: January 1, 2013.Mirae Asset India Opportunities Fund - Direct Plan - Growth Option 26.94 N.A N.A 14.81 Mirae Asset India Opportunities Fund - Regular Plan - Growth Option 25.66 9.84 27.59 14.12 BenchmarkS&P BSE 200 17.04 4.07 18.64 5.93 Past performance may or may not be sustained in the future. The Scheme had outperformed its benchmark on 1 year basis majorly due to better Stock picking in Pharma, Energy and Banking sector. Also, the performance over 5 years and since inception continues to be healthy.Date of Inception: Regular Growth: April 04, 2008; Direct Growth: January 1, 2013.Mirae Asset China Advantage Fund - Direct Plan - Growth Option 18.54 N.A N.A 7.17 Mirae Asset China Advantage Fund - Regular Plan - Growth Option 17.77 5.34 N.A 6.05 BenchmarkMSCI China (INR) 8.79 5.35 N.A 4.19 Past performance may or may not be sustained in the future. The Scheme had outperformed its benchmark on 1 year basis and since inception basis due to better performance of underlying scheme.Date of Inception: Regular Growth: November 05, 2009; Direct Growth: January 1, 2013.Mirae Asset India China Consumption Fund - Direct Plan - Growth Option 25.78 N.A N.A 12.56 Mirae Asset India-China Consumption Fund - Regular Plan - Growth Option 24.51 15.24 N.A 15.44 BenchmarkS&P India & China Weighted Index 23.94 16.45 N.A 17.03 Past performance may or may not be sustained in the future. The Scheme had outperformed its benchmark on 1 year basis majorly due to Overweight on Indian Stocks and Underweight on China Stocks. The scheme has underperformed on since inception basis, due to underweight on Pharma sector and its cash position.Date of Inception: Regular Growth: March 29, 2011; Direct Growth: January 1, 2013.Mirae Asset Global Commodity Stocks Fund - Regular Plan - Growth Option 4.08 (3.66) 12.01 3.27 Mirae Asset Global Commodity Stocks Fund - Direct Plan - Growth Option 4.50 N.A N.A (3.97)BenchmarkS&P Pan Asia Large Midcap Commodity & Resource Capped Index (12.26) (9.17) 9.16 1.88 Past performance may or may not be sustained in the future. The Scheme had outperformed its benchmark on 1 year basis majorly due to better Stock picking in Metals & Construction related sectors. Also, the performance over 5 years and since inception continues to be healthy.Date of Inception: Regular Growth: August 20, 2008; Direct Growth: January 1, 2013.Mirae Asset Short Term Bond Fund - Direct Plan - Growth Option 8.61 N.A N.A 8.46 Mirae Asset Short Term Bond Fund - Regular Plan - Growth Option 8.00 7.41 N.A 5.96 BenchmarkCRISIL Short Term Bond Fund Index 8.79 8.72 N.A 7.36 Past performance may or may not be sustained in the future. The Scheme underperformed its benchmark as it had lower average maturity and due to Underweight on high yielding Commercial Papers, Corporate Bonds and Overweight on Certificate of Deposits, however the fund’s credit quality is better than the benchmark.Date of Inception: Regular Growth: August 03, 2009; Direct Growth: January 1, 2013.Mirae Asset Cash Management Fund - Direct Plan - Growth Option 8.63 N.A N.A 8.43 Mirae Asset Cash Management Fund - Regular Plan - Growth Option 8.46 7.91 6.18 6.08 BenchmarkCRISIL Liquid Fund Index 9.46 8.71 7.19 7.23 Past performance may or may not be sustained in the future. The Scheme underperformed its benchmark due to Underweight on high yielding Commercial Papers and Overweight on Certificate of Deposits, however the fund’s credit quality is better than the benchmark.Date of Inception: Regular Growth: January 12, 2009; Direct Growth: January 1, 2013.


13

Mirae Asset Ultra Short Term Bond Fund - Regular Plan - Growth Option 8.03 N.A N.A 2.33 Mirae Asset Ultra Short Term Bond Fund - Direct Plan - Growth Option 8.68 N.A N.A 8.69 BenchmarkCRISIL Liquid Fund Index 9.46 N.A N.A 7.48 Past performance may or may not be sustained in the future. The Scheme underperformed its benchmark as it had lower average maturity and due to Underweight on high yielding Commercial Papers and Overweight on Certificate of Deposits, however the fund’s credit quality is better than the benchmark.Date of Inception: Regular Growth: March 05, 2008; Direct Growth: January 1, 2013.Mirae Asset FMP-1-368D - Direct Plan - Growth Option N.A N.A N.A 14.91 Mirae Asset FMP-1-368D - Regular Plan - Growth Option N.A N.A N.A 14.45 BenchmarkCRISIL Short Term Bond Fund Index N.A N.A N.A 13.80 Past performance may or may not be sustained in the future. The Scheme had outperformed its benchmark since inception.Date of Inception: Regular Growth: February 21, 2014; Direct Growth: January 1, 2013.


14

Annexure IVOTING RIGHTS POLICY OF MIRAE ASSET MUTUAL FUND

Mirae Asset Global Investments (India) Private Limited (Mirae AMC) is the asset management company for Mirae Asset Mutual Fund. In this role, Mirae AMC has an obligation to act in the best interests of the Funds. This responsibility includes exercising the voting rights attached to securities held by the Funds. It is the policy of Mirae AMC to exercise the voting rights of the Funds in accordance with the best interests of the Funds.This Policy contains the principles that form the basis of all votes. Mirae AMC believes that these principles are essential to ensure the long-term performance of assets managed by Mirae AMC. Mirae AMC will manage voting rights with the same level of care and skill as it manages the funds. In general, Mirae AMC does not have the intention to participate directly or indirectly in the management of the companies but it will use its influence as a shareholder amongst others by exercising its voting rights in accordance with the best interests of its funds unit holders. The exercise of voting rights requires the ongoing review of the corporate governance and performance of management of an issuer and the consideration of the potential impact of a vote on the value of the securities of the issuer held by the Funds. In order to discharge its obligations under this policy, Mirae AMC accesses and utilizes research on management performance and corporate governance issues, drawn from portfolio manager and analyst due diligence, information provided by leading independent research firms and involvement in organizations. In terms of the Securities and Exchange Board of India (“SEBI”) Circular No.SEBI/IMD/CIR No.18/198647/ 2010 dated March 15, 2010 and clarificatory email received from SEBI on June 23, 2011, we have framed the general voting policy and procedures for exercising the voting rights (“Voting Policy”). This Voting Policy shall be applicable to all equity holdings across all our mutual fund schemes.

What Does Voting Right Mean? Voting Right means, the right of a stockholder to vote on matters of corporate policy. Voting often involves decisions on issuing securities, initiating corporate actions and making substantial changes in the corporation’s operations such as the election of the company’s directors, merger/amalgamations, appointment of auditors, etc. Equity mutual funds, and other mutual funds with an equity component, hold shares of companies. The funds are entitled to exercise the voting rights attached to those shares. The shareholders do not necessarily need to be physically present at the site of the company’s annual meeting/extra-ordinary general meeting in order to exercise their right to vote. It is common for shareholders to voice their vote by proxy.

Proxy Voting Guidelines Issuers’ proxies most frequently contain proposals to elect corporate directors, to appoint external auditors and set their compensation, to adopt or amend management compensation plans and to amend the capitalization of the company. The Company shall exercise votes in the direction of improving the economic value of the portfolio and protecting the rights of the unitholders considering the following factors: 1. Protecting the rights of unitholders 2. Improving operating profits 3. Raising the intrinsic value of the Company 4. Improving the Company’s governance and financial structure. These guidelines summarize the corporate governance principles which the MAMF will generally support through the exercise of votes on these issues. 1. Boards of Directors - Mirae AMC supports resolutions that promote the

effectiveness of boards in acting in the best interests of shareholders. It generally votes in favour of the election of directors for boards having a majority of independent directors and an independent chair, where the chairs of all board committees and at least a majority of committee members are independent.

2. Corporate governance matters - Mirae AMC support resolutions that change the state of incorporation, merger and other corporate restructuring which are in the interest of the unitholders. However, Mirae AMC will vote against resolutions pertaining to takeover by an acquirer, etc which are against the interest of the unit holder.

3. Auditors and Auditor Compensation - Where all members of an issuer’s audit committee are independent, Mirae AMC will generally support the election of directors, the appointment of auditors and the approval of the recommended auditor compensation.

4. Management Compensation - The goal of Mirae AMC is to support compensation arrangements that are tied to long-term corporate performance and shareholder value. These arrangements should induce management to purchase and hold equity in the company to better align management’s interests

with those of shareholders. Stock option plans that are overly generous or excessively dilutive to other shareholders will not be supported.

5. Changes in Capitalization - Mirae AMC recognizes the need for management of an issuer to have flexibility in the issue or buyback of shares to meet changing financial conditions. Changes in capitalization will generally be supported where a reasonable need for the change is demonstrated, however changes resulting in excessive dilution of existing shareholder value will not be supported.

6. Social and corporate responsibility issues - Mirae AMC recognizes the need of role of government, demands for greater disclosures, increased investor education, environmental benefits, benefits to the community and the general public.

Other issues, including those business issues specific to the issuer or those raised by shareholders of the issuer, are addressed on a case-by-case basis with a focus on the potential impact of the vote on shareholder value. Mirae AMC reserves the right to vote against any resolution that goes against the interest of its unit holders.

Procedure for use of Proxy Voting Guidelines A decision to invest in an issuer is based in part on a fund manager’s analysis of the performance of management and the corporate governance of the issuer. Since a decision to invest is generally an endorsement of management of the issuer, Mirae AMC will generally vote with management on routine matters. However, since a fund manager must be focused on shareholder value on an ongoing basis, it is the responsibility of the fund manager to be aware of the potential investment implications of any issue on which security holders are asked to vote.The Guidelines indicate the principles of corporate governance which the Funds will generally support through the exercise of proxy votes. While Mirae AMC will generally vote the Funds’ proxies strictly in accordance with the Funds’ Proxy Voting Guidelines, there may be circumstances where it believes it is in the best interests of a Fund to vote differently than the manner contemplated by the Guidelines. The ultimate decision as to the manner in which the Funds’ proxies will be voted rests with Mirae AMC. The AMC shall abide by the following procedure for exercising the voting rights: 1. The Investment team shall examine and decide on AGMs/EGMs which have

been submitted to its authority. If a consensus cannot be achieved, the final voting decision will be taken by the Chief Investment Officer.

2. In the interest of the investors of the fund and in order to avoid excessive voting costs and to ensure better efficiency, the Investment team shall analyze the Cost- Benefit analysis (CBA) between the voting costs involved in exercising voting vis-à-vis the benefit it may accrue to the investors by exercising the voting rights. Such cases for which the benefit does not outweigh the cost, the AMC shall abstain to vote. Nevertheless, it may also decide to vote at meetings where it deems its participation important, even if the CBA is not in favour of exercising voting. (i.e. in the case of a contested AGM/EGM, etc.).

3. In most cases, the AMC exercises its funds’ voting rights by appointing an authorized agent (proxy). It may, however, if deemed necessary, be physically present at a meeting and vote in person.

4. Authorized Officials and/or authorized representatives of Custodian of the Fund would submit voting instructions for General Meetings where the AMC chooses to vote i.e. either FOR or AGAINST.

5. The AMC may also abstain from voting for certain proposals of the Investee Companies depending on various criteria and judgment.

Proxy Voting Records In this section, you can find out how voting rights were exercised on behalf of the Mirae AMC that held voting securities. Disclosure of exercise of proxy votes in equity holdings across all schemes of the Fund shall be accessible on our website. To view records for the period from 1st April, 2010 and onwards click here. The same would also be disclosed in the annual report from the financial year 2010-11 onwards.

ConflictofinterestprovisionVoting is exercised in the exclusive interest of holders. All votes are centralized, which ensures uniformity and adherence to the aforementioned principles. The strict separation of Mirae AMC’s asset management activities from other activities within the Mirae Asset Financial Group prevents access of the asset management company to insider and price sensitive information for which use and/or disclosure of such information could generate conflicts of interest. The parent of the AMC is a global investment manager and has various offices around the world. Hence, the investment manager is an affiliate of many diversified financial


15

organization across the globe, however the investment manager is a stand-alone entity in India. Any financial transaction, where: i) The investment is made into group companies of the AMC, or ii) The investee companies have subscribed to the units of their schemes, may lead to conflict of interest. Generally, the AMC shall abstain to vote for any matters connected with the above. However, the AMC will make its best efforts to avoid any conflicts and ensure that any conflicts of interest are resolved in the best interest of the unit-holders. Additionally, Mirae AMC has implemented an organization, procedures and appropriate controls and monitoring routines in order to prevent conflict of interest.

Review and control process 1. On analysis of AGM/EGM resolutions, if any conflict of interest is identified with the AMC’s voting policy, then the same shall be alerted to the Chief Investment Officer. 2. The AMC shall be responsible for maintaining records for votes cast and abstentions, proxy statements and any other relevant record in this regard. 3. All the voting rights exercised/abstentions in the previous month shall be reported to the Investment committee meeting in the next month. 4. Every record, including the voting statements, abstentions shall be retained for audit purpose. 5. The process of exercise of proxy votes as listed above shall be reviewed by the AMC, from time to time.

====x==== * - The above listed Voting Policy of Mirae Asset Mutual Fund was approved by the Board of Directors of Mirae Asset Trustee Company Private Limited on 6th April, 2010 and as per the clarifications received from SEBI, was later modified in their meeting held on June 27, 2011.


16

MIRAE ASSET MUTUAL FUND

Disclosure of exercise of Voting Rights in Equity holdings across all schemes of Mirae Asset Mutual Fund Management/ Shareholders Proposals for the year ended 2013-14:

Sr. No.

Date of meeting

Name of the Company

Type of Meeting

(AGM/EGM)Proposal Management

Recommendation

Vote (For/Against/

Notattended)1 5.4.2013 Cipla Ltd. Postal Ballot To create, offer and grant 10,00,000 stock options to the employees under

Employee Stock Option Scheme 2013.

The management is in favour of the

resolutionsFor

2 17.4.2013 Apollo Tyres Ltd. Postal BallotAlteration of Articles of Association


resolutionsFor

3 22.4.2013 Power Grid Corp of India Ltd.

Postal Ballot Re-appointment of Mr. Onkar S Kanwar as Managing Director for 5 years effective 01.02.2013


resolutionsFor

4. 27.04.2013 Globus Spirits Ltd.

Postal Ballot 1. Adoption of restated Articles of Association2. To make Inter Corporate Loan & Investments up to a limit not exceeding

Rs 250 crores


resolutionsFor

5. 24.05.2013 CNOOC Ltd. Annual General Meeting

1. To receive and consider the audited Statement of Accounts together with the Report of the Directors and Independent Auditor Report thereon for the year ended 31 December 2012.

2. To declare a final dividend for the year ended 31 December 2012.3. To re-elect Mr. Yang Hua as a Non-executive Director of the Company.4. To re-elect Mr. Zhou Shouwei as a Non-executive Director of the Company.5. To re-elect Mr. Chiu Sung Hong as an Independent Non-executive Director

of the Company.6. To authorise the Board of Directors to fix the remuneration of each of the

Directors.7. To appoint Deloitte Tohmatsu as the Company and its Subsidiaries

independent auditors and to authorise the Board of Directors to fix their remuneration.

8. To grant a general mandate to the Directors to repurchase shares in the capital of the Company not exceeding 10% of the share capital of the Company in issue as at the date of passing of this resolution.

9. To grant a general mandate to the Directors to issue, allot and deal with additional shares in the capital of the Company not exceeding 20% of the share capital of the Company in issue as at the date of passing of this resolution.

10. To extend the general mandate granted to the Directors to issue, allot and deal with shares in the capital of the Company by the aggregate number of shares repurchased, which shall not exceed 10% of the share capital of the Company in issue as at the date of passing of this resolution.

- Not attended

6. 10.5.2013 Oil Search Ltd. Annual General Meeting

1. To re-elect Gerea Aopi as a director of the Company.2. To elect Rick Lee as a director of the Company.3. To elect Keith Spence as a director of the Company.4. To elect Bart Philemon as a director of the Company.5. To elect Fiona Harris as a director of the Company.6. To appoint an auditor.

- Not attended

7 15.5.2013 Yanzhou Coal Mining Ltd.

Extra Ordinary General Meeting

1. To consider and approve the Proposal regarding the general mandate authorizing the Board to repurchase H Shares - Not attended


17

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)8. 15.5.2013 Yanzhou Coal

Mining Company Ltd.

Annual General Meeting

1. To consider and approve the working report of the board of directors of the Company for the year ended 31 December 2012.

2. To consider and approve the working report of the supervisory committee of the Company for the year ended 31December, 2012.

3. To consider and approve the audited financial statements of the Company and its subsidiaries as at and for the year ended 31 December 2012.

4. To consider and approve the proposed profit distribution plan of the Company for the year ended 31 December 2012 and to authorize the Board to distribute an aggregate cash dividend of RMB 1.7706 billion (tax inclusive), equivalent to 0.36 (tax inclusive) per Share to the Shareholders.

5. To consider and approve the remuneration of the Directors and supervisors of the Company for the year ending 31December, 2013.

6. To consider and approve the Proposal in relation to the renewal of the liability insurance of Directors, supervisors and senior officers.

7. To consider and approve the Proposal in relation to the re-appointment and remuneration of external auditing firms for the year 2013.

8. To consider and approve the amendments to the Articles of Association in relation to the provisions regarding profit distribution.

9. To consider and approve Articles of Association, the Rules of Procedures for Shareholder General Meeting and the Rules of Procedures for the Board in relation to the decision-making procedures for approving the mutual provision of loans among overseas subsidiaries.

- Not attended

10. To consider and approve the Proposal to authorize the Company to carry out domestic and overseas financing activities

11. To consider and approve the Proposal for the provision of guarantees to the Company wholly-owned subsidiaries

12. To consider and approve the Proposal regarding the general mandate authorizing the Board to issue H Shares.

13. To consider and approve the Proposal regarding the general mandate authorizing the Board to repurchase H Shares.

9. 23.05.2013 China NationalBuilding Material Company Ltd.


1. To consider and approve the report of the board of director of the Company for the year ended 31 December, 2012.

2. To consider and approve the report of the supervisory committee of the Company for the year ended 31 December, 2012.

3. To consider and approve the report of the auditors and audited financial statements of the Company for the year ended 31 December, 2012.

4. To consider and approve the proposed profit distribution plan and the final dividend distribution plan of the Company for the year ended 31 December 2012 and to authorise the Board to distribute such final dividend to the Shareholders of the Company.

5. To consider and approve the authorisation of the Board to deal with all matters in relation to the Company’s distribution of interim dividend for the year 2013 in its absolute discretion (including, but not limited to, determining whether to distribute interim dividend for the year 2013).

6. To consider and approve the continuation of appointment of Baker Tilly China Certified Public Accountants as the domestic auditor of the Company and Baker Tilly Hong Kong Limited as the international auditor of the Company, to hold office until the conclusion of the next annual general meeting of the Company and to authorise the Board to determine their remuneration.

7. To consider and approve the Company to cease the payment of remuneration to the Directors, namely, Mr. Guo Chaomin, Mr. Huang Anzhong and Ms. Cui Lijun, and the Supervisors, namely, Mr. Wu Jiwei and Ms. Zhou Guoping, effective from November 2012.

8. Special Resolution: Domestic Shares not exceed 20% of the Domestic Shares in issue and additional H Shares not exceeding 20% of the H Shares in issue and authorise the Board to make corresponding amendments to the Articles of Association of the Company as it thinks fit so as to reflect the new share capital structure upon the allotment or issuance of shares.

9. Special Resolution: To consider and approve the Company issuance of debt financing instruments in batches within the limit of issuance permitted under relevant laws and regulations as well as other regulatory documents.

- Not attended


18

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)10 23.5.2013 Petro-China

Company Ltd.Annual General Meeting

1. To consider and approve the Report of the Board of Director of the Company for the year 2012.

2. To consider and approve the Report of the Supervisory Committee of the Company for the year 2012.

3. To consider and approve the Audited Financial Statements of the Company for the year 2012.

4. To consider and approve the declaration and payment of the final dividend for the year ended 31 December, 2012 in the amount and in the manner recommended by the Board of Directors.

5. To consider and approve the authorisation of the Board of Directors to determine the distribution of interim dividends for the year 2013.

6. To consider and approve the appointment of KPMG Huazhen and KPMG as the domestic and international auditors of the Company, respectively, for the year 2013 and to authorise the Board of Directors to determine their remuneration.

7. To consider and approve the election of Mr. Li Qingyi as the Supervisor of the Company

8. To consider and approve the election of Mr. Fan Fuchun as the independent Supervisor of the Company

9. To consider and approve, by way of special resolution, certain amendments to the articles of association of the Company.

10. To consider and approve, by way of special resolution, to unconditionally grant a general mandate to determine and handle the issue of debt financing instruments of the Company with the outstanding balance amount of up to RMB100 billion, upon such terms and conditions to be determined by the Board of Directors.

11. To consider and approve, by way of special resolution, to grant a general mandate to the Board of Directors to separately or concurrently issue, allot and deal with additional domestic shares and overseas listed foreign shares in the Company not exceeding 20% of each of its existing domestic shares and overseas listed foreign shares of the Company in issue.

- Not attended

11 05.06.2013 Bharti Airtel Ltd. Extra Ordinary General Meeting

1. Preferential Allotment of Equity Shares.2. Amendment in Articles of Association of the Company.


resolutionsFor

12 21.06.2013 State Bank Of India


1. To receive, discuss and adopt the Balance Sheet and Profit and Loss Account.


resolutionsFor

13 24.06.2013 ICICI Bank Ltd. Annual General Meeting

1. To receive, consider and adopt the Statement of Profit and Loss Account and Balance Sheet

2. To declare dividend3. Appointment of Directors.4. Appointment of Statutory Auditors


resolutionsFor

14 24.06.2013 Rallis India Ltd. Annual General Meeting

1. To receive, consider and adopt the audited Statement of Profit and Loss for the year ended 31st March, 2013 and the Balance Sheet as at that date together with the Report of the Directors and that of the Auditors thereon.

2. To confirm the payment of Interim Dividend for the year 2012-13 and to declare a Final Dividend for the year 2012-13 on Equity Shares.

3. To appoint a Director in place of Mr. R. Mukundan who retires by rotation and is eligible for re-appointment.

4. To appoint a Director in place of Dr.Yoginder K.Alagh who retires by rotation and is eligible for re-appointment. He has offered himself for re-election and his term would be up to February 2014.

5. To appoint a Director in place of Mr. E. A. Kshirsagar who retires by rotation and is eligible for re-appointment.

6. To appoint Auditors and to fix their remuneration.7. Payment of Commission to Directors.


resolutionsFor


19

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)15 25.06.2013 ING Vysya

Bank Ltd.Annual General Meeting

1. To receive, consider and adopt the Balance Sheet as at March 31, 2013, Profit and Loss Account for the year ended on that date together with the Auditors’ Report thereon and the Directors’ Report attached thereto for that year.

2. To declare a dividend on equity shares for the year ended March 31, 2013.3. To appoint a Director in place of Mr. Richard Cox who retires by rotation

and being eligible, offers himself for re-appointment. 4. To appoint a Director in place of Mr. Meleveetil Damodaran who retires

by rotation and being eligible, offers himself for re-appointment.5. To appoint a Director in place of Mr. Vikram Talwar who retires by rotation

and being eligible, offers himself for re-appointment.6. To re-appoint M/s BSR & Co., Chartered Accountants, as the Auditors of

the Bank and authorize the Board of Directors to fix their remuneration.7. To create, issue, offer or allot stock options.


resolutionsFor

16 26.06.2013 CMC Ltd. Annual General Meeting


2. To declare dividend3. Appointment of Directors4. Appointment of Statutory Auditors.


resolutionsFor

17 26.06.2013 Union Bank of India


1. To discuss, approve and adopt Balance Sheet and profit & Loss A/c.2. To declare dividend on Equity shares.


resolutionsFor

18 27.06.2013 HDFC Bank Ltd. Annual General Meeting


2. To declare dividend3. Appointment of Directors.4. Appointment of Statutory Auditors.


resolutionsFor

19 28.06.2013 Tata Consultancy Services Ltd.


1. To receive, consider and adopt the Audited Statement of Profit and Loss for the year ended March 31, 2013 and the Balance Sheet as at that date together with the Reports of the Board of Directors and the Auditors thereon.

2. To confirm the payment of Interim Dividends on Equity Shares for the financial year 2012-13 and to declare a Final Dividend on Equity Shares for the financial year 2012-13.

3. To declare Dividend on Redeemable Preference Shares for the financial year 2012-13.

4. To appoint a Director in place of Dr. Vijay Kelkar, who retires by rotation, and being eligible offers himself for re-appointment.

5. To appoint a Director in place of Mr. Ishaat Hussain, who retires by rotation, and being eligible offers himself for re-appointment.

6. To appoint a Director in place of Mr. Aman Mehta, who retires by rotation, and being eligible offers himself for re-appointment.

7. To appoint Auditors and fix their remuneration.8. Revision in terms of remuneration of Mr. N. Chandrasekaran, Chief.

Executive Officer and Managing Director.9. Re-appointment of Mr.. S. Mahalingam as Chief Financial Officer and

Executive Director of the Company until his retirement.10. Appointment of Branch Auditors


resolutionsFor

20 19.07.2013 Housing Development Finance Corporation Ltd.


1. Adoption of Accounts2. Declaration of dividend3. Re-appointment of Mr. Deepak S Parekh as a Director4. Re-appointment of Mr. Keshub Mahindra as a Director5. Re-appointment of Mr. D M S Sukthankar as a Director6. Re-appointment of Mr. Naseer Munjee as a Director7. Appointment of M/s Deloitte Haskins & Sells, Chartered Accountants as

Auditors8. Appointment of M/s PKF, Chartered Accountants as Brach Auditors”9. Appointment of M/s PKF, Chartered Accountants as Brach Auditors”10. To increase borrowing limit not exceeding Rs 3,00,000 crores


resolutionsFor


20

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)21 20.07.2013 The Federal

Bank Ltd.Annual General Meeting

1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2013 and the Profit & Loss Account for the financial year ended on that date, together with the reports of the Board of Directors and the Auditors thereon.

2. To declare a dividend.3. To appoint a Director in place of CA. Nilesh S. Vikamsey, who retires by

rotation, and being eligible, offers himself for re-appointment. (Details of the Director as required under the regulations are given in the Explanatory statement).

4. To appoint a Director in place of Shri Suresh Kumar who retires by rotation, and being eligible, offers himself for re-appointment. (Details of the Director as required under the regulations are given in the Explanatory statement).

5. To appoint Central Statutory Auditors to hold office from the conclusion of this meeting until the conclusion of the next AGM and to fi x their remuneration.

6. The Board of Directors be and is hereby authorised to arrange for the audit of the Bank’s branches for the accounting year 2013-14 and to appoint and fi x the remuneration of branch auditors in consultation with the Central Statutory Auditors for the purpose.

7. Dr. K. Cherian Varghese be and is hereby appointed as a Director of the Bank, whose period of office shall be liable to determination by retirement of Directors by rotation.

8. Shri. Sudhir M. Joshi be and is hereby appointed as a Director of the Bank, whose period of office shall be liable to determination by retirement of Directors by rotation.

9. Shri. K.M. Chandrasekhar be and is hereby appointed as a Director of the Bank, whose period of office shall be liable to determination by retirement of Directors by rotation.

10. Shri. Dilip G. Sadarangani be and is hereby appointed as a Director of the Bank, whose period of office shall be liable to determination by retirement of Directors by rotation.

11. Alteration in the share capital of the Bank.12. The variable pay of Shri. Shyam Srinivasan, Managing Director and Chief

Executive Officer of the Bank, as approved by RBI be and is hereby approved.


resolutionsFor

22 22.07.2013 Wipro Ltd. Annual General Meeting

1. Adoption of Accounts2. Confirm payment of Interim Dividend and Declaration of Final Dividend3. Re-appointment of Mr. N Vaghul as Director4. Re-appointment of Dr. Ashok S Ganguly as Director5. “Re-appointment of M/s BSR & Co, Chartered Accountants as Auditors”6. Appointment of Mr. Vyomesh Joshi as Director7. “Re-appointment of Mr. Azim H Premji, as Chairman and Managing

Director of the Company”8. “Re-appointment of Mr. Suresh C Senapaty, as Chief Financial Officer

and Executive Director of the Company”


resolutionsFor

23 23.07.2013 Deewan Housing Finance Corporation Ltd.


1. Adoption of accounts2. Declaration of dividend3. Appointment of Mr. R P Khosla as director4. Appointment of Mr. G P Kohli as director5. Appointment of M/s T R Chadha & Co, Chartered accountants as auditors.6. Appointment of Mr. M Venugopalan as director


resolutionsFor


21

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)24 24.07.2013 Cairn

India Ltd.Annual General Meeting

1. To receive, consider and adopt the audited Balance Sheet as at 31 March, 2013 and the Profit and Loss Account of the Company for the year ended on that date together with the reports of the Directors’ and Auditors’ thereon.

2. To confirm declaration and payment of interim dividend for the year 2012-13 and to declare final dividend for the year ended 31 March, 2013.

3. To appoint a Director in place of Mr. Naresh Chandra, who retires by rotation and is eligible for re-appointment.

4. To appoint a Director in place of Mr. Edward T. Story, who retires by rotation and is eligible for re-appointment.

5. To appoint S. R. Batliboi & Co. LLP (formerly M/s. S. R. Batliboi & Co.), Chartered Accountants, statutory auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting and to fix their remuneration.

6. Mr. P. Elango, who was appointed as an additional Director of the Company proposing his candidature for the office of Director, be and is hereby appointed as a Director of the Company, whose term of office shall be liable to retirement by rotation.


resolutionsFor

25 25.07.2013 Zee Entertainment Enterprises Ltd.


1. Adoption of Accounts2. Declaration of dividend3. Re-appointment of Prof. R Vaidyanathan as Director4. Re-appointment of Mr. Ashok Kurien as Director5. Appointment of M/s MGB & Co, Chartered Accountants as Auditors6. To increase the investment by FIIs from 49% to the Sectoral cap of 100%

of paid up capital of the Company


resolutionsFor

26 25.07.2013 Mahindra & Mahindra Financial Services Ltd.


1. Adoption of Accounts2. Declaration of dividend3. Re-appointment of Mr. Bharat Doshi as Director4. Re-appointment of Mr. Dhananjay Mungale as Director5. “Re-appointment of M/s B K Khare & Co, Chartered Accountants as

Auditors”


resolutionsFor

27 25.07.2013 LIC Housing Finance Ltd.


1. Adoption of accounts2. Declaration of dividend3. Appointment of Mr. S Ravi as director4. Appointment of Mr. Jagdish Kapoor as director5. “Appointment of M/s Choksi & Choksi, Chartered accountants and M/s

Shah Gupta & Co, Chartered accountants as auditors”.6. Appointment of Mr. V K Sharma as MD and CEO for 5 years.


resolutionsFor

28 30.07.2013 Marico Ltd. Crt 1. To approve the Scheme of Arrangement between Marico Limited and Marico Kaya Enterprises Limited.


resolutionsFor

29 30.07.2013 Marico Ltd. Extra Ordinary General Meeting

1. To utilize Securities Premium Account The management is in favour of the

resolutionsFor

30 30.07.2013 lpca Laboratories Limited


1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Mr. Babulal Jain as Director4. Re-appointment of Mr. Anand T Kusre as Director5. Re-appointment of Dr. V V Subba Rao as Director6. Appointment of Auditors7. Re-appointment of Mr. Premchand Godha as Managing Director for 5

years effective 01.04.20138. Appointment of Dr. Ramakanta M Panda as Director


resolutionsFor

31 31.07.2013 Dr. Reddy’s Laboratories Ltd.


1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Dr. Ashok S Ganguly as a Director4. Re-appointment of Dr. J P Moreau as a Director5. Re-appointment of Ms. Kalpana Morparia as a Director6. Re-appointment of M/s B S R & CO, Chartered Accountants as Auditors”7. Re-designation of Mr. G V Prasad, wholetime Director as Chairman and

CEO”8. Re-designation of Mr. Satish Reddy, Wholetime Director as vice Chairman,

in addition to MD and CEO.


resolutionsFor


22

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)32 01.08.2013 Cummins India

Ltd.Annual General Meeting

1. Adoption of Accounts2. Re-appointment of Mr. Ajay J Talaulicar as MD for 5 years effective

25.04.20133. “Appointment of Mr. Pradeep bhargava, Alternate Director to Mr. Patrick

Ward, to act as advisor on retainership basis for 13 months effective 01.04.20163”

4. Declaration of dividend5. Re-appointment of Mr. James Kelly as Director6. Re-appointment of Mr. Rajeev Bakshi as Director7. Re-appointment of Mr. Venu Srinivasan as Director8. Appointment of Auditors9. Appointment of Mr. Antonio Leitao as Director10. Appointment of Mr. Prakash Telang as Director11. Appointment of Mr. Edward Phillip Pence as Director


resolutionsFor

33 02.08.2013 Glenmark Pharmaceuti-cals Ltd.


1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Mr. D R Mehta as Director4. Re-appointment of Mr. Sridhar Gorthi as Director5. Re-appointment of Mr. J F Ribeiro as Director


resolutionsFor

34 02.08.2013 Bajaj Corp Limited


1. To receive, consider and adopt the Balance Sheet as at March 31, 2013, Statement of Profit and Loss for the year ended on that date and Reports of Directors and Auditors thereon for the said year.

2. To confirm the Interim Dividend of ` 6.50/- per equity share declared on 14,75,00,000 equity shares of face value Rs. 1/- each already paid for the financial year 2012-13.

3. To appoint a Director in place of Mr. Sumit Malhotra, who retires by rotation and being eligible, offers himself for re-appointment.

4. To appoint a Director in place of Mr. Haigreve Khaitan, who retires by rotation and being eligible, offers himself for re-appointment.

5. To appoint M/s. R. S. Dani & Company (Firm Registration Number 000243C), Chartered Accountants, retiring Auditors as Auditors of the Company to hold office from conclusion of this Meeting until the conclusion of the next Annual General Meeting of the Company and to fi x their remuneration.

6. Revision in remuneration of Mr.. Sumit Malhotra, Managing Director of the Company, with effect from April 1, 2013 for the remaining period of his term in offi ce.

7. The revision in remuneration of Mr. Jimmy Rustom Anklesaria, Whole-time Director of the Company with effect from April 1, 2013 for the remaining period of his term in office.

8. To vary the terms referred to in the Prospectus dated August 9, 2010, fi led by Company with the Registrar of the Companies, Maharashtra Mumbai.


resolutionsFor

35 02.08.2013 ICRA Ltd. Annual General Meeting

1. Adoption of Accounts2. Declaration of Dividend on equity shares3. Re-appointment of Mr. Uddesh Kohli as a Director4. Re-appointment of Prof. Deepak Nayyar as a Director5. “Re-appointment of M/s Vipin Aggarwal & Associates, Chartered

Accountants as as Auditors6. “Re-appointment of Mr. Pranab Kumar Choudhury, a Whole-time Director

designated as Chairman & Group CEO”7. Appointment of Mr. Min Ye as a Director8. Appointment of Mr. Simon Richard Hastilow as a Director


resolutionsFor

36 03.08.2013 Infosys Extra Ordinary General Meeting

1. Appointment of Mr. N. R. Narayana Murthy as whole time Director for 5 years with effect from 1.5.2013 - Not Attended


23

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)37 03.08.2013 Godrej Consumer

Products Ltd.Annual General Meeting

1. Adoption of Accounts2. Appointment of Mr. Vivek Gambhir as Whole time Director designated as

Managing Director for 3 years effective 01.07.20133. Declaration of Dividend4. Re-appointment of Mr. Nadir Godrej as Director5. Re-appointment of Mr. Bharat Doshi as Director6. Re-appointment of Dr. Omkar Goswami as Director7. “Re-appointment of M/s Kalyaniwalla & Mistry, Chartered Accountants as

Auditors”8. Re-appointment of Mr. Adi Godrej as Whole time Director designated as

Chairman for 3 years effective 01.04.20139. Appointment of Ms. Nisaba Godrej as Wholetime Director designated as

ED - Innovation for 3 years effective 01.07.201310. Appointment of Mr. Vivek Gambhir as Director.


resolutionsFor

38 05.08.2013 Divi’s Laboratories Ltd.


1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Dr. G Suresh Kumar as Director4. Re-appointment of Mr. Madhusudanana Rao as Director5. “Appointment of M-s P V R K Nageswara Rao & Co., Chartered

Accountants as Auditors”6. Appointment of Mr. R. Ranga Rao as Director


resolutionsFor

39 06.08.2013 Crompton Greaves Ltd.


1. Adoption of Accounts2. Appointment of Mr. S. Apte as Director3. Confirmation of first and second Interim Dividend aggregating to

@ Rs. 0.804. Declaration of Final Dividend5. Re-appointment of Dr. O Goswami as Director6. Re-appointment of Ms. M Pudumjee as Director7. Re-appointment of Mr. S Prabhu as Director8. “Appointment of M/s Sharp & Tannan, Chartered Accountants as Auditors”9. Appointment of Mr. B Hariharan as Director10. Appointment of Dr. (Mrs.) C Lewiner as Director.


resolutionsFor

40 07.08.2013 Lupin Ltd. Annual General Meeting

1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Dr. Kamal K. Sharma as a Director4. Re-appointment of Ms. Vinita Gupta as a Director5. Re-appointment of Mr. Nilesh Gupta as a Director6. “Re-appointment of M/s Deloitte Haskins & Sells, Chartered Accountants

as Auditors”


resolutionsFor

7. Appointment of Mr. Dileep C Choksi as a Director8. Investment by FIIs upto 49% of the paid up share capital

41 07.08.2013 Apollo Tyres Ltd.


1. To receive, consider and adopt the audited accounts of the Company for the year ended March 31, 2013 and the report of the Directors and of the Auditors thereon.

2. To declare dividend on equity shares. 3. To appoint a Director in place of Mr. Nimesh N Kampani, who retires by

rotation, and being eligible, offers himself for re-appointment.4. To appoint a Director in place of Dr. S Narayan, who retires by rotation,

and being eligible, offers himself for re-appointment.5. To appoint a Director in place of Mr. A. K. Purwar, who retires by rotation,

and being eligible, offers himself for re-appointment.6. To appoint Auditors and to fi x their remuneration. 7. Mr. Vikram S Mehta, who was appointed by the Board of Directors of

the Company as an additional director with effect from February 6, 2013 and who holds office as such upto the date of the ensuing annual general meeting and in respect of whom the Company has, as required by section 257 of the Companies Act, 1956, received a notice in writing from a member signifying his intention to propose his candidature for the Office of the Director, be and is hereby appointed as a Director of the Company, liable to retire by rotation.

8. Mr. Neeraj Kanwar, Managing Director be and is hereby re-appointed as Managing Director of the Company for a further period of fi ve years with effect from May 28, 2014.

9. Mr. Sunam Sarkar, CFO & Whole time director be and is hereby re-appointed as a Whole time director of the Company for a period of five years with effect from January 28, 2014.


resolutionsFor


24

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)42 07.08.2013 Aurobindo

Pharma LimitedAnnual General Meeting

1. To receive, consider and adopt the Audited Balance Sheet as at March 31, 2013 and the Statement of Profit and Loss and Cash Flow Statement for the year ended on that date and the Report of the Board of Directors and the Auditors thereon.

2. To declare dividend on the Equity Shares.3. To appoint a Director in place of Mr. P. Sarath Chandra Reddy who retires

by rotation and being eligible, offers himself for re-appointment.4. To appoint a Director in place of Mr. K. Ragunathan who retires by Notice

rotation and being eligible, offers himself for re-appointment. 5. To appoint a Director in place of Dr. M. Sivakumaran who retires by rotation

and being eligible, offers himself for re-appointment.6. To appoint M/s. S.R. Batliboi & Associates LLP (Registration No.

101049W) as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting and to authorize the Board of Directors to fix their remuneration.


resolutionsFor

43 08.08.2013 Adani Port and Special Economic Zone Ltd.


1. To receive, consider and adopt the Audited Balance Sheet as at March 31, 2013, Statement of Profit and Loss Account for the year ended on that date and the Reports of the Directors and Auditors thereon.

2. To declare dividend on Preference Shares.3. To declare final dividend on Equity Shares.4. To appoint a Director in place of Mr. Rajeeva Sinha, who retires by rotation

and being eligible, offers himself for re-appointment.5. To appoint a Director in place of Mr. D. T. Joseph, who retires by rotation

and being eligible, offers himself for re-appointment.6. To appoint M/s. S. R. Batliboi & Associates LLP, Chartered Accountants,

Ahmedabad (ICAI Firm Registration No. 101049W), as Auditors of the Company, to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company on such remuneration as shall be fixed by the Board of Directors of the Company.

7. Mr.. G. K. Pillai be and is hereby appointed as a Director of the Company retiring by rotation.

8. Mr.. Sanjay Lalbhaibe and is hereby appointed as a Director of the Company retiring by rotation


resolutionsFor

44 08.08.2013 Akzo Nobel India Ltd.


1. To consider and adopt the audited Statement of Profit and Loss for the financial year ended 31 March 2013, the audited Balance Sheet as at that date and the Reports of the Directors and Auditors thereon.

2. To declare a Dividend on equity shares for the year ended 31 March 2013.3. To appoint a Director in place of Ms. R S Karnad who retires by rotation.

Being eligible, she has offered herself for reappointment as a Director of the Company. A brief resume of Ms. Karnad has been given in this Notice, after the Notes.

4. To appoint a Director in place of Mr. A Uppal who retires by rotation. Being eligible, he has offered himself for reappointment as a Director of the Company. A brief resume of Mr. Uppal has been given in this Notice, after the Notes.

5. To appoint Auditors and to fix their remuneration


resolutionsFor

45 12.08.2013 Larsen & Toubro Ltd.


1. To approve the proposed scheme of arrangement between Larsen & Toubro Limited and L&T Hydrocarbon Engineering Limited


resolutionsFor

46 12.08. 2013 Marico Ltd. Annual General Meeting

1. Adoption of Accounts2. Confirmation of Interim Dividends3. Re-appointment of Mr. Rajen Mariwala as Director4. Re-appointment of Mr. Atul Choksey as Director5. “Appointment of M/s Price Waterhouse, Chartered Accountants as

Auditors”6. Alteration of Articles of Association

- Not Attended

47 12.08.2013 Britannia Industries Ltd.


1. Adoption of Accounts.2. Declaration of Dividend.3. Re-appointment of Mr. Nasser Munjee as Director.4. Re-appointment of Mr. Ness N Wadia as Director.5. Re-appointment of Dr Vijay L Kelkar as Director.6. Re-appointment of Mr. Nusli N Wadia as Director.7. Appointment of M/s BSR & Co, Chartered Accountants as Auditors”

- Not Attended


25

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)48 14.08.2013 Amara Raja

Batteries LimitedAnnual General Meeting

1. To receive, consider and adopt the audited statement of Profit and Loss for the year ended March 31, 2013 and the Balance Sheet as at that date together with the reports of the Board of Directors’ and Auditors’ thereon.

2. To declare dividend on equity shares for the financial year ended March 31, 2013.

3. To appoint a director in place of Mr. T R Narayanaswamy, who retires by rotation in terms of Article 105 (a) of the Articles of Association of the Company and being eligible, offers himself for re-appointment.

4. To appoint a director in place of Mr. P Lakshmana Rao, who retires by rotation in terms of Article 105 (a) of the Articles of Association of the Company and being eligible offers himself for re-appointment.

5. To appoint a director in place of Mr. Nagarjun Valluripalli, who retires by rotation in terms of Article 105 (a) of the Articles of Association of the Company and being eligible offers himself for re-appointment.

6. To appoint auditors and to fix their remuneration Mr. Ravi Bhamidipati, who was appointed by the Board of Directors as an additional director of the Company be and is hereby appointed as a director of the Company, not liable to retire by rotation.

7. Mr. Eric Stuart Mitchell, who was appointed by the Board of Directors as an additional director of the Company with effect from April 18, 2013 be and is hereby appointed as a director of the Company, liable to retire by rotation.

8. Appointment of Mr. Ravi Bhamidipati, as an Executive Director of the Company for a period from October 8, 2012 to March 31, 2014.


resolutionsFor

49 14.08.2013 Tata Steel Ltd. Annual General Meeting

1. Adoption of Accounts2. Appointment of Mr. O P Bhatt as Director3. Appointment of Mr. Koushik Chatterjee as Executive Director & Group

CFO for 5 years effective 09.11.20124. Declaration of Dividend5. Re-appointment of Mr. Nusli N Wadia as Director6. Re-appointment of Mr. Subodh Bhargava as Director7. Re-appointment of Mr. Jacobus Schraven as Director8. Re-appointment of Dr Karl-Ulrich Koehler as Director9. Appointment of Auditors10. Appointment of Mr. D K Mehrotra as Director11. Appointment of Mr. Koushik Chatterjee as Director


resolutionsFor

50 19.08.2013 Hathway Cable & Datacom Ltd.


1. To create, offer, issue and allot, for cash, 38,70,000 fully paid up equity shares to P6 Asia Holding Investments IV (Mauritius) Limited at a price of Rs 284, including premium of Rs 274 aggregating upto Rs 109,90,80,000 on preferential allotment basis.

2. To create, offer, issue and allot, for cash, 14,05,000 fully paid up equity shares of Hathway Investments Pvt Ltd. at a price of Rs 284, including premium of Rs 274 aggregating up to Rs 39,90,20,000 on preferential allotment basis.


resolutionsFor

51 22.08.2013 eClerx Services Ltd.


1. Adoption of Accounts.2. Amendment(s) to Employee Stock Option Scheme 2011 (ESOP 2011)

to increase number of options which can be granted under ESOP 2011 to the employees of the subsidiaries of the Company

3. Payment of remuneration by way of commission to Non-Executive Independent Directors of the Company

4. Raising of Long Term Financial Resources5. Declaration of Dividend6. Re-appointment of Mr. Anjan Malik as Director7. Re-appointment of Mr. Biren Gabhawala as Director8. Appointment of M/s Walker, Chandiok & Co., Chartered Accountants as

Auditors”9. Amendment(s) to ESOP Plan(s)/ Scheme(s) of the Company with regards

to removal/deletion of Clauses permitting the Employee Welfare Trust (ESOP Trust) to acquire the securities of the Company from the market


resolutionsFor


26

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)10. Amendment(s) to Employee Stock Option Scheme 2008 (ESOP 2008)

to incorporate the clause(s) pertaining to implication upon delayed/non-payment of exercise and/or tax money

11. Amendment(s) to Employee Stock Option Scheme 2011 (ESOP 2011) to incorporate the clause(s) pertaining to implication upon delayed/non-payment of exercise and/or tax money

12. Amendment(s) to Employee Stock Option Scheme 2011 (ESOP 2011) to increase number of options which can be granted under ESOP 2011 to the employees of the Company.

52 22.08.2013 Cipla Ltd. Annual General Meeting

1. Adoption of Accounts.2. Revision on terms of remuneration of of Mr. Kamil Hamiedas with effect

from 1.9.2013.3. Revision on terms of remuneration of of Mr.s Samina Vaziralli with effect

from 1.9.2013.4. Offer and grant of up to 84,44,528 stock options to the benefit of employees

under ESOS-2013-A Scheme.5. Grant the benefit of ESOS-2013-A Scheme to the employees of subsidiary

companies.6. To create, offer, grant total of 5,22,194 stock options to Mr.. Rajesh Garg,

global Chief Financial Officer and permanenet employee of the Company under ESOS 2013-B Scheme.

7. Payment of Commission to Non-Executive Directors not exceeding 1% of net profit of the Company for 5 years commencing 1.4.2013.

8. Declaration of Dividend.9. Re-appointment of Mr. M R Raghavan as a Director.10. Re-appointment of Mr. Pankaj Patel as a Director.11. Not filling of vacancy caused by retirement as Mr. Ramesh Shroff as a

Director.12. Re-appointment of M/s V Sankar Aiyar & Co and M/s R G N Price & Co,

Chartered Accountants as Joint Auditors.13. Appointment of Mr. M K Hamied as Executive Vice chairman for 2 years

with effect from 16.7.2013.14. Appointment of Mr. Sunhanu Saxena as a Director.15. Appointment of Mr. Sunhanu Saxena as Managing Director for 5 years

with effect from 16.7.2013.


resolutionsFor

53 27.08.2013 HT Media Ltd. Annual General Meeting

1. Adoption of Accounts2. Modification of HTML Employee Stock Option Scheme3. Modification of HTML Employee Stock Option Scheme 20094. Payment of commission to Non-Executive Directors5. Declaration of Dividend6. Re-appointment of Mr. Ajay Relan as Director7. Re-appointment of Mr. Rajiv Verma as Director8. “Appointment of M/s S R Batliboi & Co LLP, Chartered Accountants as

Auditors”9. Re-appointment of Mr. Shobhana Bhartia as Chairperson and Editorial

Director for 5 years effective 01.07.201310. Re-appointment of Mr. Shamit Bhartia as Wholetime Director for 5 years

effective 01.09.201311. “Revision in remuneration of Mr. Rajiv Verma, Wholetime Director effective

01.04.2013”12. To approve the media-space Sales Agreement entered into by the

Company and India Education Services Pvt. Ltd.


resolutionsFor

54 27.08.2013 Maruti Suzuki India Ltd.


1. Adoption of accounts2. Payment towards stay and other expenses to Mr. Shinzo Nakanishi,

Director3. Declaration of dividend4. Appointment of Mr. D S Brar as director5. Appointment of Mr. Amal Ganguli as director6. Appointment of Mr. Keiichi Asai as director7. “Appointment of M/s Price Waterhouse, Chartered accountants as

auditors”8. Appointment of Mr. Menichi Ayukawa as MD & CEO9. Appointment of Mr. Toshiaki Hasuike as Joint MD10. Appointment of Mr. R P Singh as director


resolutionsFor


27

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)55 05.09.2013 Hindustan

Petroleum Corporation Ltd.


1. Adoption of Accounts2. Appointment of Mr. B K Namdeo as Director3. Declaration of Dividend4. Re-appointment of Mr. S K Roongta as Director5. Re-appointment of Mr. Nishi Vasudeva as Director6. Re-appointment of Mr. Anil Razdan as Director7. Re-appointment of Mr. G K Pillai as Director8. Appointment of Dr. Gitesh K Shah as Director9. Appointment of Mr. K V Rao as Director10. Appointment of Mr. R K Singh as Director


resolutionsFor

56 06.09.2013 Aditya Birla Nuvo Ltd.


1. Adoption of Account2. Extending the benefits of ‘Aditya Birla Nuvo Limited Employee Stock

Option Scheme 2013’ to employees of subsidiary companies3. Declaration of Dividend on Preference and equity shares4. Re-appointment of Mr. Kumar Mangalam Birla as a Director5. Re-appointment of Mr. G P Gupta as a Director


resolutionsFor

6. Re-appointment of Mr. T Chattopadhyay as a Director7. “Re-appointment of M/s Khimji Kunverji & Co and M/s S R Batliboi & Co

LLP, Chartered Accountants as Joint Auditors”8. Appointment of branch auditors9. Appointment of Mr. Lalit Naik as a Director10. “Introduce and implement the ‘Aditya Birla Nuvo Limited Employee Stock

Option Scheme 2013’ wherein the options exercisable are up to a limit not exceeding 3,50,000 equity shares of Rs 10 each”

57 19.09.2013 Godfrey Phillips India Ltd.


1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Mr. O P Vaish as Director4. Re-appointment of Mr. R Ramamurthy as Director5. Re-appointment of Mr. R A Shah as Director6. “Appointment of M/s Deloitte Haskins & Sells, Chartered Accountants as

Auditors”7. “Approve terms of appointment of Mr. Samir Kumar Modi, Executive

Director for 3 years with effect from 1.9.2013”8. “Payment of sum by way of commission to Mr. Lalit Kumar Modi, Executive

Director not exceeding 1% p.a. of net profits of the Company”9. Amendment of Articles of Association


resolutionsFor

58 21.09.2013 Oil India Ltd. Annual General Meeting

1. Adoption of Accounts2. Appointment of Mr. Gautam Barua as Non-Official Part-time Director3. Appointment of Mr. Nalin Kumar Srivastava as Governemt and Nominee

Director4. Declaration of Dividend5. Re-appointment of Mr. T K Ananth Kumar as Director6. Re-appointment of Mr.S. Rashmi Aggarwal as Director7. Appointment to Auditors8. Appointment of Mr. Anup Mukerji as Non-Official Part-time Director9. Appointment of Mr. Suresh Chand Gupta as Non-Official Part-time Director10. Appointment of Mr. Bhaskar Ramamurthi as Non-Official Part-time Director11. Appointment of Mr. Shekhar Chaudhari as Non-Official Part-time Director


resolutionsFor

59 24.09.2013 United Spirits Ltd. Annual General Meeting

1. Adoption of accounts2. Appointment of Mr. Sudhakar Rao as director.3. Appointment of Mr. Sivanandhan Dhanushkodi as director.4. Appointment of Ms Renu Sud Karnak as director5. Appointment of Mr. Paul Steven Waish as director.6. Appointment of Mr. Vikram Singh Mehta as director.7. “Revision of remuneration to Mr. Ashok Capoor, MD”8. Alteration of Articles of Association9. Declaration of dividend10. Appointment of Dr Vijay Mallya as director11. “Appointment of M/s BSR & Co, Chartered accountants as auditors”12. Appointment of Mr. Gilbert Ghostine as director13. Appointment of Mr. Ravi Rajagopal as director14. Appointment of Mr. P A Murali as director15. Appointment of Mr. P A Murali as executive director16. Appointment of Mr. Arunkumar Ramanlal Gandhi as director


resolutionsFor


28

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)60 25.09.2013 Oil & Natural Gas

Corporation Ltd.Annual General Meeting

1. Adoption of accounts2. Declaration of dividend3. Appointment of Dr. D Chandrasekharam as director4. Appointment of Mr. K S Jamestin as director5. Appointment of auditors6. Appointment of Mr. Pronip Kumar Borthakur as director7. Appointment of Mr. Shashi Shanker as director8. Appointment of Mr. Narasimha Murthy as director9. Appointment of Mr. Narendra kumar Verma as director


resolutionsFor

61 26.09.2013 Lupin Ltd. Postal Ballot 1. Approving the terms of appointments of Dr. Kamal K Sharma, as Vice Chairman of the Company, with effect from 1.9.2013”

2. “Approving the terms of appointments of Ms. Vinita Gupta, as Chief Executive Officer of the Company. with effect from 01.09.2013”

3. “Approving the terms of appointments of Mr. Nilesh Gupta, as Managing Director of the Company with effect from 1.9.2013”


resolutionsFor

62 26.09.2013 Tech Mahindra Ltd.


1. Adoption of Accounts2. Appointment of Mr. Anand G Mahindra as Director3. Appointment of Mr. Bharat N Doshi as Director4. Appointment of Mr. T N Manoharan as Director5. Appointment of Mr. S. M. Rajyalakshmi Rao as Director6. Amendment of Articles of Association


resolutionsFor

7. Increase the investment by FIIs to a limit not exceeding 49%8. “To increase the maximum number of restricted stock units per Associate

/ Employees/ Director from existing 0.5% to 2% in any financial year and from existing 2% to 4% in aggregate, of the total number of RSUs reserved under Restricted Stock Unit plan, with effect from 1.1.2013”

9. To amend the exercise price for the purposes of the grant of Options as decided by the Compensation & Nominations Committee at the time of grant of Options to the employees / directors

10. Declaration of Dividend11. Re-appointment of Mr. Anupam Puri as Director12. Re-appointment of Mr. Paul Zuckerman as Director13. Re-appointment of Mr. Ulhas N Yargop as Director14. “Appointment of M/s Deloitte Haskins & Sells, Chartered Accountants as

Auditors”15. Appointment of Mr. C P Gurnani as Director16. Appointment of Mr. C P Gurnani as Managing Director for 5 years with

effect from 10.8.201217. Appointment of Mr. Vineet Nayyar as Executive Vice Chairman for 3 years

with effect from 10.8.201263 26.09.2013 Hathway Cable

and Datacom Ltd.Extra

Ordinary General Meeting

1. To issue equity shares on preferential basisThe management is in favour of the

resolutionsFor

64 27.09.2013 Gujarat State Petronet Ltd.


1. Adoption of Accounts2. Declaration of Dividend3. Re-appointment of Dr. Vaidyanathan as Director4. Appointment of Auditors5. Appointment of Dr. Hasmukh Adhia IAS as Director6. Appointment of Prof. Yogesh Singh as Director7. Appointment of Mr. Yogesh B Sinha as Director8. “Payment of monthly salary derived on the basis of ‘last pay drawn minus

pension’ to Shri M Srivastava, IAS (Retd) with effect from 27.8.2012”


resolutionsFor

65 27.09.2013 Gateway Distriparks Ltd.


1. Adoption of Accounts2. Declaration of Interim Dividend3. Re-appointment of Mr. Shabbir Hassanbhai as Director4. Re-appointment of Mr. SatPal Khattar as Director5. Re-appointment of Mr. Arun Agarwal as Director6. Re-appointment of M/s Price Waterhouse, Chartered Accountants as

Auditors.


resolutionsFor

66 28.09.2013 Bharti Airtel Ltd. Postal Ballot 1. To approve slump Sale of Data Center and Managed Services Business to Nxtra Data Limited, a Wholly Owned Subsidiary of Bharti Airtel Limited for a consideration not less than Rs 1,771 million.


resolutionsFor


29

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)67 30.09.2013 Cadila

Healthcare Ltd.Annual General Meeting

1. Adoption of Accounts2. Confirmation of Interim Dividend3. Re-appointment of Mr. Mukesh M Patel as Director4. Appointment of Auditors5. Payment of commission to Non-Executive Directors.


resolutionsFor

68 30.09.2013 Sun Pharma-ceuticals Ltd.


1. Adoption of Accounts2. Appointment of Mr. Aalok D Sanghvi as Senior General Manager -

International Business.3. To issue, offer and allot securities not exceeding Rs 120 billion.4. To borrow upto Rs 500 billion5. To make loan(s) &/or give guarantee(s) / provide any security(ies) in

connection with loan(s) made to and to make investments in Shares, Debentures &/or any other securities of other body corporates upto maximum amount of Rs 500 billion.

6. Declaration of Dividend.7. Re-appointment of Mr. Dilip S Sanghvi as Director.8. Re-appointment of Mr. Shailesh T Desai as Director9. Re-appointment of Mr. Hasmukh S Shah as Director10. Re-appointment of M/s Deloitte Haskins & Sells, Chartered Accountants

as Auditors.11. Revision in remuneration of Mr. Sudhir V Valia, Wholetime Director

effective 01.04.2013.12. Re-appointment of Mr. Sudhir V Valia as Wholetime Director for 5 years

effective 01.04.2014.13. Re-appointment of Mr. Shailesh T Desai as Wholetime Director for 5 years

effective 01.04.2014.


resolutionsFor

69 14.10.2013 Zee Entertainment Enterprises Ltd.


1. To approve the Scheme of Arrangement under Sections 391 read with Sections 16, 94 and any other applicable provisions of the Companies Act, 1956 between the Company and its equity shareholders for issuance of Bonus Preference Shares”


resolutionsFor

70 18.11.2013 Tamil Nadu Newsprint & Papers Ltd.

Postal Ballot 1. To enhance the borrowing powers of the company to Rs. 2500 crores comprising of both rupee loan and foreign currency loan.


resolutionsFor

71 29.11.2013 IPCA Laboratories Ltd.


1. Reappointment of Mr. Pranay Godha as the Executive Director of the company for a further period of five years.

2. Increase in the investment limit by the Foreign Institutional Investors (FIIs) in the equity share capital of the company.


resolutionsFor

72 10.12.2013 Motherson Sumi Systems Ltd.

Postal Ballot 1. To issue bonus shares in the ratio of 1:2.2. To make investments in the form of capital and/or provide loan/ guarantee

up to Rs 350 Crores in Samvardhana Motherson Polymers Limited.3. To provide Corporate Guarantee in favor of State Bank of India, Frankfurt

Branch, Germany up to Euro 0.60 Million provided to SM Automotive Exterior GmbH, Germany.

4. To make investments in the form of capital and/or provide loan/ guarantee up to Rs 4.45 Crores in Samvardhana Motherson Nippisun Technology Ltd.


resolutionsFor

73 23.12.2013 Power Grid Corporation of India Ltd.

Postal Ballot 1. To increase the borrowing limits by authorizing the Board Of Directors to borrow monies for implementation of various projects/expansion from the existing limits of Rs 1,00,000 crore to Rs 1,30,000 crore.

2. To increase the shareholding limit for FIIs from 24% to 30% of the paid up capital of Power Grid Corporation of India Ltd.


resolutionsFor

74 26.12.2013 Idea Cellular Ltd. Extra Ordinary General Meeting

1. To increase the investment limit on total holdings of Foreign Institutional Investors from 24% to 49% of the paid up equity capital of the company.

2. To revise and increase various components of remuneration payable to Mr.. Himanshu Kapania, Managing Director of the company.


resolutionsFor

75 30.12.2013 State Bank of India


1. To create, offer, issue and allot such number of equity shares of Rs 10/- each for cash at a price determined by the Board aggregating to the tune of up to Rs 2,000/- crores on preferential basis to GOI.

2. To create, offer, issue and allot by way of QIP/FPO/any other mode as may be approved by GOI & RBI such number of equity shares of Rs 10/- each as decided by board up to Rs 9,576/- crores.


resolutionsFor

76 02.01.2014 Cairn India Ltd. Postal Ballot 1. Purchase by the Company of its fully paid-up equity shares with face value of Rs. 10/- each at a price not exceeding Rs. 335/- (‘Maximum Buy-back Price’) per equity share out of free reserves and/or securities premium account, from the open market through the Stock Exchanges.


resolutionsFor


30

Sr. No.

Date of meeting

Name of the Company

Type of Meeting


Recommendation

Vote (For/Against/

Notattended)77 15.01.2014 Bank of Baroda Extra

Ordinary General Meeting

1. To create, offer, issue and allot up to such no. of equity shares of Rs. 10/- each for cash at a premium to be determined in accordance with SEBI/ ICDR Regulations, aggregating up to Rs.550/- crores on preferential basis to Government of India.


resolutionsFor

78 27.01.2014 Aurobindo Pharma Ltd.

Court Meeting 1. Approving with or without modification(s) the proposed Scheme of Arrangement between the Company and Curepro Parenterals Ltd. and their respective Shareholders and Creditors (the ‘Scheme’).


resolutionsFor

79 30.01.2014 Gulf Oil Corporation Ltd.

Court Meeting 1. Demerger of Lubricants Undertaking of Gulf Oil Corporation Ltd. into its wholly owned subsidiary Gulf Oil Lubricants India Ltd.


resolutionsFor

80 10.02.2014 Indian Bank Extra Ordinary General Meeting

1. Conversion of the Perpetual Non-Cumulative Preference Shares (PNCPS) (4,00,00,000 Perpetual Non-Cumulative Preference Shares of Rs 100 each aggregating to Rs 400.00 crore), held by Government of India, into such number of equity shares in favour of Government of India pursuant to compliance with Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and subject to approval of shareholders and other regulatory / statutory authorities.


resolutionsFor

81 06.03.2014 HDFC Bank Ltd.

Postal Ballot 1. Mr. Paresh Sukthankar who is presently appointed as a director till 11th October, 2016 and designated as Executive Director, be and is hereby appointed as Deputy Managing Director of the Bank for a period of 3 (Three) years with effect from 24th December, 2013 to 23rd December, 2016.

2. Mr. Kaizad Bharucha be and is hereby appointed as an Executive Director of the Bank for a period of 3 years with effect from 24th December, 2013 to 23rd December, 2016.

3. Mr. C. M. Vasudev be and is hereby appointed as director and part-time Chairman of the Bank for a period of one year from 27th August, 2013 up to 26th August 2014.

4. Consent of the Members be and is hereby accorded to the Board of Directors of the Bank to borrow such sum or sums of monies as they may deem necessary, provided that the total outstanding amount of such borrowings shall not exceed Rs. 20,000 crore over and above the aggregate of the paid up capital of the Bank and its free reserves at any time.


resolutionsFor

82 18.03.2014 United Spirits Limited


To approve Scheme of Amalgamation between Tern Distilleries Private Limited and the Company. - Not Attended

83 19.03.2014 ITC Ltd. Postal Ballot To approve the Scheme of Arrangement between WIMCO Limited and ITC Limited and their respective shareholders


resolutions

For

84 21.03.2014 Eicher Motors Ltd.


1. To receive, consider and adopt the Audited Balance Sheet as at December 31, 2013 and Statement of Profit & Loss for the year ended on that date, together with the Auditors’ and Directors’ Report thereon

2. To declare dividend on equity shares.3. To appoint a Director in place of Mr. S. Sandilya who retires by rotation

and being eligible, offers himself for reappointment.4. Re-appointment of M/s Deloitte Haskins & Sells, Chartered Accountants

as Auditors.5. To revise the terms and conditions of appointment of Mr. Siddhartha Lal,

Managing Director of the Company, w.e.f. April 1, 2014.


resolutions

For


31

Redressal of Complaints received against Mirae Asset Mutual Fund during the year 2013-14:

No. of Folios as on March 31, 2014: 56803

Complaint code

Type of complaint#

(a) No. of complaints

pending at the

beginning of the year

Action on (a) and (b)

(b) No of complaints

received during the

year

Resolved

Non Actionable*

Pending

Within 30

days

30- 60

days

60-180 days

Beyond 180

days

0-3 months

3-6 months

6-9 months

9-12 months

I A Non receipt of Dividend on Units 0 9 9 0 0 0 0 0 0 0 0

I B Interest on delayed payment of Dividend 0 0 0 0 0 0 0 0 0 0 0

I C Non receipt of Redemption Proceeds 0 10 10 0 0 0 0 0 0 0 0

I D Interest on delayed payment of Redemption 0 0 0 0 0 0 0 0 0 0 0

II A Non receipt of Statement of Account/Unit Certificate 0 2 2 0 0 0 0 0 0 0 0

II B Discrepancy in Statement of Account 0 0 0 0 0 0 0 0 0 0 0

II C Data corrections in Investor details 0 2 2 0 0 0 0 0 0 0 0

II D Non receipt of Annual Report/Abridged Summary 0 0 0 0 0 0 0 0 0 0 0

III A Wrong switch between Schemes 0 0 0 0 0 0 0 0 0 0 0

III B Unauthorized switch between Schemes 0 0 0 0 0 0 0 0 0 0 0

III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0

III D Wrong or excess charges/load 0 1 1 0 0 0 0 0 0 0 0

III E Non updation of changes viz. address, PAN, bank details, nomination, etc

0 0 0 0 0 0 0 0 0 0 0

IV Others* 0 2 2 0 0 0 0 0 0 0 0

TOTAL 26 26 0 0 0 0 0 0 0 0

# including against its authorized persons/distributors/employees. etc.*Non actionable means the complaint that are incomplete /outside the scope of the mutual fund

32

INDEPENDENT AUDITORS’ REPORTTo,The Trustees of Mirae Asset Mutual Fund

Report on the Financial StatementsWe have audited the accompanying financial statements of Mirae Asset Mutual Fund - Mirae Asset India Opportunities Fund, Mirae Asset Emerging Bluechip Fund, Mirae Asset India-China Consumption Fund, Mirae Asset Global Commodity Stocks Fund and Mirae Asset China Advantage Fund (“the Scheme”), which comprise the Balance Sheet as at March 31, 2014, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Schemes in accordance with accounting principles generally accepted in India, including the accounting policies and standards specified in the Ninth Schedule to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (‘the SEBI Regulations”). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We have conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Scheme’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

OpinionIn our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information as required by the SEBI Regulations in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:a) In case of Balance Sheet, of the state of affairs of the Schemes as

at March 31, 2014.b) In case of Revenue Account, of the Surplus of the Scheme for the year ended

on that date.

Report on Other Legal and Regulatory Requirements1. We have obtained all the information and explanations, which to the best of

our knowledge and belief were necessary for the purposes of our audit.2. The balance sheet and revenue account dealt with by this report are in

agreement with the books of account.3. In our opinion, the balance sheet and revenue account dealt with by this

report have been prepared in conformity with the accounting policies and standards specified in the Ninth Schedule to the SEBI Regulations.

4. In our opinion and on the basis of information and explanations given to us, the methods used to value non traded securities as at March 31, 2014 are in accordance with the SEBI Regulations and other guidelines issued by the Securities and Exchange Board of India, as applicable, and approved by the Board of Trustees, and fair and reasonable.

For Chokshi & ChokshiChartered AccountantsFRN- 101872W

Sd/- Nilesh JoshiPartnerMembership No.114749

Place: Mumbai Date: July 14, 2014


Report on the Financial StatementsWe have audited the accompanying financial statements of Mirae Asset Mutual Fund - Mirae Asset Ultra Short Term Bond Fund and Mirae Asset Short Term Bond Fund (“the Scheme”), which comprise the Balance Sheet as at March 31, 2014, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.





on that date.






For Chokshi & ChokshiChartered AccountantsFRN- 101872W



33


Report on the Financial StatementsWe have audited the accompanying financial statements of Mirae Asset Mutual Fund - Mirae Asset Cash Management Fund (“the Scheme”), which comprise the Balance Sheet as at March 31, 2014, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.





on that date.






For Chokshi & Chokshi Chartered Accountants FRN- 101872W




Report on the Financial StatementsWe have audited the accompanying financial statements of Mirae Asset Mutual Fund - Mirae Asset Liquid Fund (“the Scheme”), which comprise the Balance Sheet as at July 30, 2013, and the Revenue Account for the period April 1, 2013 to July 30, 2013, and a summary of significant accounting policies and other explanatory information.




at July 30, 2013.b) In case of Revenue Account, of the Surplus of the Scheme for the period

April 1, 2013 to July 30, 2013.





4. In our opinion and on the basis of information and explanations given to us, the methods used to value non traded securities as at July 30, 2013 are in accordance with the SEBI Regulations and other guidelines issued by the Securities and Exchange Board of India, as applicable, and approved by the Board of Trustees, and fair and reasonable.




34


Report on the Financial StatementsWe have audited the accompanying financial statements of Mirae Asset Mutual Fund - Mirae Asset FMP Series I - 368 Days (“the Scheme”), which comprise the Balance Sheet as at March 31, 2014, and the Revenue Account for the period February 13, 2014 to March 31, 2014, and a summary of significant accounting policies and other explanatory information.



OpinionIn our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information as required by the SEBI Regulations in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:a) In case of Balance Sheet, of the state of affairs of the Schemes as at March 31, 2014.b) In case of Revenue Account, of the Surplus of the Scheme for the period February 13, 2014 to March 31, 2014.

Report on Other Legal and Regulatory Requirements1. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit.2. The balance sheet and revenue account dealt with by this report are in agreement with the books of account.3. In our opinion, the balance sheet and revenue account dealt with by this report have been prepared in conformity with the accounting policies and

standards specified in the Ninth Schedule to the SEBI Regulations.4. In our opinion and on the basis of information and explanations given to us, the methods used to value non traded securities as at July 30, 2013 are

in accordance with the SEBI Regulations and other guidelines issued by the Securities and Exchange Board of India, as applicable, and approved by the Board of Trustees, and fair and reasonable.


Sd/- Nilesh JoshiPartnerMembership No.114749Place: Mumbai Date: July 14, 2014


35

MIRAE ASSET MUTUAL FUNDBALANCE SHEET AS AT 31 MARCH 2014

(All amounts in thousands of Rupees)

Mirae Asset India Opportunities Fund

Mirae Asset Emerging Bluechip Fund

31 March, 2014

31 March, 2013

31 March, 2014

31 March, 2013

Schedule

SOURCES OF FUNDS

Unit capital 2(b) & 3 2,342,463 1,869,847 1,478,714 1,153,982

Reserves and surplus 2(b) & 4 1,828,011 899,129 829,471 224,377

Current liabilities 5 55,059 14,747 34,727 5,641

4,225,533 2,783,723 2,342,912 1,384,000

APPLICATION OF FUNDS

Investments 2(c) & 6 4,019,441 2,735,727 2,168,050 1,312,663

Other current assets 7 206,092 47,996 174,862 71,337

4,225,533 2,783,723 2,342,912 1,384,000

The accompanying schedules are an integral part of this balance sheet.As per our report of even date.

For Chokshi & ChokshiChartered AccountantsFirm Registration No. 101872W

Sd/-Nilesh JoshiPartnerMembership No.114749

For and on behalf ofMirae Asset TrusteeCompany Private Limited

Sd/-V. B. HaribhaktiChairman

Sd/-S. T. GerelaDirector

For and on behalf of Mirae Asset Global Investments (India) Private Limited

Sd/-Jisang Yoo Director & CEO

Sd/-B. N. Chakraborty Director

Sd/-Gopal AgrawalChief Investment Officer

Sd/-Neelesh Surana Head - Equity

Sd/-Sumit AgrawalFund Manager (Equity)

Place : MumbaiDate : July 14, 2014

36



Mirae Asset India - China Consumption Fund

Mirae Asset Global Commodity Stocks Fund

31 March, 2014

31 March, 2013

31 March, 2014

31 March, 2013

Schedule

SOURCES OF FUNDS

Unit capital 2(b) & 3 136,273 141,102 109,710 153,711

Reserves and surplus 2(b) & 4 62,618 25,515 21,811 23,120

Current liabilities 5 1,274 835 5,161 1,924

200,165 167,452 136,682 178,755


Investments 2(c) & 6 191,862 160,841 129,374 175,553


200,165 167,452 136,682 178,755















37



Mirae Asset China Advantage Fund

31 March, 2014 31 March, 2013

Schedule

SOURCES OF FUNDS

Unit capital 2(b) & 3 204,551 281,300

Reserves and surplus 2(b) & 4 60,543 27,553

Current liabilities 5 2,914 3,425

268,008 312,278


Investments 2(c) & 6 261,776 308,643

Other current assets 7 6,232 3,635

268,008 312,278













38

MIRAE ASSET MUTUAL FUNDREVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31 MARCH 2014




ScheduleApril 01, 2013

to March 31, 2014

April 01, 2012 to

March 31, 2013

April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

INCOMEDividend 2(d) 44,947 39,999 29,840 20,523 Interest 2(d) & 8 6,087 4,469 3,911 2,966 Profit on sale/redemption of investments, net 2(d) 203,999 80,658 153,855 121,692 Load income 2,907 1,505 892 222 Gain / (Loss) on foreign exchange, net - - - - Refund - Scheme Expenses - - - - Total 257,940 126,631 188,498 145,403 EXPENSES AND LOSSESLoss on sale/redemption of investments, net - #0 - - Management fee 9 38,479 30,228 20,201 15,022 Service tax on Management fees 4,756 3,736 2,497 1,857 Trusteeship fee 9 755 738 383 340 Custodian service charges 461 388 258 181 Registrar service charges 3,507 3,474 1,806 1,610 Commission to distributors 39,472 27,261 18,994 12,658 Audit fee 172 112 172 112 Investor Protection Fund Expense 616 284 318 132 Other operating expenses 2,707 3,179 1,173 1,198 Change in provision for net unrealised loss in value of investments - - - -

90,925 69,400 45,802 33,108 Less: Expenses reimbursed / to be reimbursed by AMC (8,843) (2,275) (2,003) (648)

Total 82,082 67,125 43,799 32,460 Surplus /(Deficit) for the year 175,858 59,506 144,699 112,943 Equalisation (Debit) / Credit 2(e) 150,599 119,443 30,197 16,965 Transfer from retained surplus 122,093 117,733 94,550 49,195 Income distribution on capital account (122,093) (117,733) (94,550) (77,381)Surplus/(Deficit)transferred to the balance sheet 4 326,457 178,949 174,896 101,722

# Amount less than Rupees 0.5 thousandThe accompanying schedules are an integral part of this balance sheet.As per our report of even date.













39



Mirae Asset

India-China Consumption Fund Mirae Asset

Global Commodity Stocks Fund


to March 31, 2014

April 01, 2012 to

March 31, 2013

April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

INCOMEDividend 2(d) 3,145 2,988 5,051 7,536 Interest 2(d) & 8 423 317 124 553 Profit on sale/redemption of investments, net 2(d) 5,630 17,439 8,646 Load income 229 86 56 63 Gain / (Loss) on foreign exchange, net 8,156 1,729 7,706 23,934 Refund - Scheme Expenses 110 - 81 - Total 17,693 22,559 13,018 40,732 EXPENSES AND LOSSESLoss on sale/redemption of investments, net - - 11,926 - Management fee 9 2,233 2,012 1,937 3,719 Service tax on Management fees 276 249 239 460 Trusteeship fee 9 45 45 41 90 Custodian service charges 56 38 778 983 Registrar service charges 205 211 180 396 Commission to distributors 1,853 1,515 1,050 2,192 Audit fee 115 112 88 112 Investor Protection Fund Expense 36 17 31 25 Other operating expenses 348 193 271 423 Change in provision for net unrealised loss in value of investments - - (8,872) 143

5,167 4,392 7,669 8,543 Less: Expenses reimbursed / to be reimbursed by AMC (86) (71) (187) (686)Total 5,081 4,321 7,482 7,857 Surplus /(Deficit) for the year 12,612 18,238 5,536 32,875 Equalisation (Debit) / Credit 2(e) 1,076 1,325 (16,952) (43,039)Transfer from retained surplus 5,594 4,503 - - Income distribution on capital account (5,594) (7,234) - - Surplus/(Deficit)transferred to the balance sheet 4 13,688 16,832 (11,416) (10,164)














40



Mirae Asset

China Advantage Fund


to March 31, 2014

April 01, 2012 to

March 31, 2013INCOMEDividend 2(d) - - Interest 2(d) & 8 312 442 Profit on sale/redemption of investments, net 2(d) - - Load income 572 83 Gain / (Loss) on foreign exchange, net 26,951 50,270 Refund - Scheme Expenses 58 -

Total 27,893 50,795

EXPENSES AND LOSSESLoss on sale/redemption of investments, net 19,627 59,114 Management fee 9 2,868 3,704 Service tax on Management fees 354 458 Trusteeship fee 9 66 112 Custodian service charges 44 302 Registrar service charges 302 514 Commission to distributors 1,748 3,234 Audit fee 116 112 Investor Protection Fund Expense 53 32 Other operating expenses 306 431 Change in provision for net unrealised loss in value of investments - (36,937)

25,484 31,076 Less: Expenses reimbursed / to be reimbursed by AMC (118) (426)

Total 25,366 30,650

Surplus /(Deficit) for the year 2,527 20,145 Equalisation (Debit) / Credit 2(e) (3,172) (810)Transfer from retained surplus - - Income distribution on capital account - - Surplus/(Deficit)transferred to the balance sheet 4 (645) 19,335














41

1. BACKGROUNDMirae Asset Global Investments Company Limited is the sponsor of Mirae Asset Mutual Fund (‘The Fund’).In accordance with SEBI (Mutual Funds) Regulations, 1996 (‘the SEBI Regulations’), the Board of Directors of Mirae Asset Trustee Company Private Limited (‘the Trustee’) has appointed Mirae Asset Global Investments (India) Private Limited (‘the AMC’) to manage the Fund’s affairs and operate its schemes.

Scheme Name

Type of Scheme

Investment objective of the scheme NFO OpenNFO Close

Options


Open ended equity scheme

The investment objective of the Scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities and equity related securities.

February 11, 2008

toMarch 10,

2008

Direct Plan - Growth option Direct Plan - Dividend option Regular - Growth optionRegular - Dividend



The Investment objective of the scheme is to generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs. 100 Crores at the time of investment.

May 24,2010

toJune 22,

2010


Mirae Asset India China Consumption Fund


The investment objective of the Scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are likely to benefit either directly or indirectly from consumption led demand in India / China.

March 09, 2011

toMarch 23,

2011




The investment objective of the Scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are engaged in commodity and commodities related sectors/sub sectors/industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets.

June 24,2008

toJuly 23,

2008




The investment objective of the Scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of domestic mutual funds, in order to meet liquidity requirements from time to time.

September 14, 2009

toOctober 09,

2009


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Board of Directors of the AMC and the Trustee, are stated below.

(a) Determination of net asset value - The net asset value of the units of the Scheme is determined separately for the units issued under the options. - For reporting the net asset values within the portfolio, the Scheme’s daily income earned, including realised profit or loss and unrealised gain

or loss in the value of investments, and expenses accrued, are allocated to the related plans in proportion to their respective daily net assets arrived at by multiplying day end outstanding units to previous day’s closing net asset value.

(b) Unit capital - Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period ended on

that date. - Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each

option, after an appropriate portion of the issue proceeds and redemption payouts is credited/debited to the equalisation account, a mandatory requirement for open ended mutual fund schemes.

(c) Investments Accounting for investment transactions - Purchase and sale of investments are recorded on the date of the transaction, at cost and sale price respectively, after considering brokerage,

commission, CCIL charges and fees payable or receivable, if any. - Right entitlements are recognised as investments on the ex-rights date. - Bonus entitlements are recognised as investments on the ex-bonus date. Valuation of investments - All investments are valued based on the principles of fair valuation and have been valued in good faith in a true and fair manner - The investments in domestic equity shares which have traded during a period of thirty days (prior to the balance sheet date) are stated at the

closing prices on the balance sheet date or the last trading day before the balance sheet date, as may be applicable, on The National Stock Exchange of India Limited (principal stock exchange). When on a particular valuation day, a security has not been traded on the principal stock exchange, the value at which it is traded on The Bombay Stock Exchange Limited is used.

- Investments in fixed income & money market securities (other than central government securities) are valued as follows:

42

TRADED (qUOTED)Till 31 December 2013 ,all quoted debt investments other than thinly traded, are considered at prices derived from the weighted average yield to maturity of the traded securities as at the valuation date as obtained from a public platform (FIMMDA / NSE WDM / BSE WDM) using traded volume thresholds or based on yield to maturity derived from trades done by schemes managed by MAAMC (Own Trades). From 1 January 2014 ,the valuation is on the basis of average of prices ( Scrip level prices ) released by CRISIL and ICRA .Quoted debt & money market instruments (other than Government Securities) which are not traded on any stock exchange on the valuation day are considered as non-traded securities.

NON TRADED - INVESTMENT GRADE

All non-government debt securities and money market (not covered under TRADED security) up to 60 days to maturity, are valued on the basis of amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Rating Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.Till 31 December 2013, other non-government debt & money market securities of investment grade (not covered under TRADED security) beyond 60 days to maturity, are valued by taking the aggregated average yields released by CRISIL and ICRA, as suggested by Association of Mutual Funds of India (AMFI), applying fair valuation principles Laid down by SEBI. From ,1 January 2014 , the valuation is on the basis of average of prices ( Scrip level prices ) released by CRISIL and ICRA .

- NON INVESTMENT GRADEAll non-investment grade / non performing deb ized in the revenue account and net unrealized gain, if any, is adjusted in unrealized appreciation reserve.

(d) Revenue recognition - Dividend income is recognised on the ex-dividend date. - Interest income is recognised on an accrual basis. - Profit or loss on sale/redemption of investments is determined on the basis of the weighted average cost method.

(e) Equalisation account - When units are issued or redeemed, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at

the beginning of the year) as on the date of the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at the beginning of the year) associated with each unit is computed. The per unit amount so determined is credited / debited to the equalisation account on issue / redemption of each unit respectively.

The balance in equalisation account is transferred to revenue account at the year-end without affecting the net income of the Scheme.

(f) Load - The exit load charged, if any, would be credited to the scheme.

(g) Cash and cash equivalent - Cash and cash equivalent includes balance with banks in current accounts, deposits placed with scheduled banks (with an original maturity of

upto three months) and collateralised lending (including reverse purchase transactions).


43

MIRAE ASSET MUTUAL FUNDSCHEDULES TO THE FINANCIAL STATEMENTS FOR

THE YEAR/PERIOD ENDED 31 MARCH 2014

3. Unit Capital Mirae Asset India Opportunities Fund**

31 March, 2014 31 March, 2013

quantity Amount

(Rs. in 000's) quantity Amount

(Rs. in 000's)

Growth Option

Outstanding, beginning of year 99,732,413.712 997,324 89,138,388.011 891,384

Issued

-new fund offer - - - -

-during the year 46,983,560.740 469,836 39,131,997.300 39,1320Redeemed during the year (34,783,577.592) (347,836) (28,537,971.599) (285,380)

Outstanding, end of year 111,932,396.860 1,119,324 99,732,413.712 997,324

Dividend Option


Issued



Outstanding, end of year 114,248,012.663 1,142,480 86,865,952.964 868,660

Direct Plan - Growth option

Outstanding, beginning of year 363,219.009 3,632 - -

Issued


-during the year 6,683,241.297 66,832 364,718.298 3,647Redeemed during the year (158,334.245) (1,583) (1,499.289) (15)

Outstanding, end of year 6,888,126.061 68,881 363,219.009 3,632

Direct Plan - Dividend option

Outstanding, beginning of year 23,133.737 231 - -

Issued


-during the year 1,163,311.087 11,633 23,133.737 231Redeemed during the year (8,602.882) (86) - -

Outstanding, end of year 1,177,841.942 11,778 23,133.737 231

Total

Outstanding, beginning of year 186,984,719.422 1,869,846 163,027,511.910 1,630,275

Issued


-during the year 114,047,492.082 1,140,475 84,408,533.866 844,085Redeemed during the year (66,785,833.978) (667,858) (60,451,326.354) (604,513)

Outstanding, end of year 234,246,377.526 2,342,463 186,984,719.422 1,869,847

44



Unit Capital Mirae Asset Emerging Bluechip Fund**

31 March, 2014 31 March, 2013

quantity Amount


(Rs. in 000's)

Growth Option


Issued



Outstanding, end of year 58,583,355.734 585,833 37,110,998.876 371,110

Dividend Option


Issued






Issued


-during the year 4,293,689.649 42,937 541,073.789 5,411Redeemed during the year (132,049.168) (1,320) (3,041.257) (31)



Outstanding, beginning of year 18,138.065 181 - 0

Issued


-during the year 161,930.861 1,620 18,924.081 189Redeemed during the year (3,700.318) (37) (786.016) (8)

Outstanding, end of year 176,368.608 1,764 18,138.065 181

Total

Outstanding, beginning of year 115,398,179.837 1,153,982 97,624,720.223 976,247

Issued



Outstanding, end of year 147,871,398.072 1,478,714 115,398,179.837 1,153,982


45

MIRAE ASSET MUTUAL FUNDSCHEDULES TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD

ENDED 31 MARCH 2014

Unit Capital Mirae Asset India-China Consumption Fund**

31 March, 2014 31 March, 2013

quantity Amount


(Rs. in 000's)

Growth Option


Issued




Dividend Option


Issued


-during the year 554,300.704 5,543 3,412,258.103 34,123Redeemed during the year (2,374,817.251) (23,748) (3,040,887.859) (30,409)




Issued


-during the year 233,694.947 2,337 33,010.200 330Redeemed during the year (29,606.320) (296) - -




Issued


-during the year 5,890.770 59 2,849.695 29Redeemed during the year - - - -

Outstanding, end of year 8,740.465 88 2,849.695 29

Total


Issued




46



Unit Capital Mirae Asset Global Commodity Stocks Fund**

31 March, 2014 31 March, 2013

quantity Amount


(Rs. in 000's)

Growth Option


Issued


-during the year 912,887.549 9,129 1,832,005.812 18,320Redeemed during the year (3,896,878.638) (38,969) (6,448,383.585) (64,483)


Dividend Option


Issued


-during the year 149,776.453 1,498 583,629.568 5,836Redeemed during the year (1,638,682.525) (16,387) (12,222,657.226) (122,226)




Issued


-during the year 81,569.359 816 49,614.010 496Redeemed during the year (15,397.964) (154) (400.000) (4)




Issued


-during the year 11,777.508 118 3,939.696 39Redeemed during the year (5,110.660) (51) - -


Total


Issued





47



Unit Capital Mirae Asset China Advantage Fund**

31 March, 2014 31 March, 2013

quantity Amount


(Rs. in 000's)

Growth Option


Issued




Dividend Option


Issued


-during the year 659,839.125 6,598 632,023.461 6,320Redeemed during the year (1,992,222.529) (19,922) (14,768,214.718) (147,682)




Issued


-during the year 793,785.996 7,938 726,297.433 7,263Redeemed during the year (121,867.758) (1,219) (2,574.611) (26)




Issued


-during the year 8,044.857 81 3,935.639 39Redeemed during the year - - - -


Total


Issued




48



**Note: Details of large holdings (over 25% of the NAV of the Scheme):

Name of the Scheme 31 March, 2014 31 March, 2013

No. of Investors % Holding No. of Investors % Holding

Mirae Asset India Opportunities Fund Nil 0.00% Nil 0.00%

Mirae Asset Emerging Bluechip Fund Nil 0.00% Nil 0.00%

Mirae Asset India China Consumption Fund Nil 0.00% Nil 0.00%

Mirae Asset Global Commodity Stocks Fund Nil 0.00% Nil 0.00%

Mirae Asset China Advantage Fund Nil 0.00% Nil 0.00%


49




4. RESERVES AND SURPLUS Mirae Asset

India Opportunities Fund Mirae Asset

Emerging Bluechip Fund

31 March, 2014 31 March, 2013 31 March, 2014 31 March, 2013

Unit premium reserve

Balance, beginning of year (290,955) (272,357) 50,305 18,220

Net premium on issue / redemption of units 280,269 100,845 162,848 49,050 Transferred to/(from) equalisation account (150,599) (119,443) (30,197) (16,965)

Balance, end of year/period (161,285) (290,955) 182,956 50,305

Unrealised appreciation reserve

Balance, beginning of year/period 229,023 73,972 72,350 85,670 Unrealised appreciation in value of investments 594,848 155,051 392,098 (13,320)

Balance, end of year/period 823,871 229,023 464,448 72,350

Retained surplus

Balance, beginning of year/period 961,061 899,845 101,722 49,195

Transfer to revenue account (122,093) (117,733) (94,550) (49,195)Surplus transferred from revenue account 326,457 178,949 174,896 101,722

Balance, end of year/period 1,165,425 961,061 182,068 101,722

Total reserves and surplus 1,828,011 899,129 829,471 224,377

The share of the options in the reserves and surplus is as follows:

Growth option 1,349,850 749,839 419,672 99,428

Dividend option 385,352 146,473 374,015 123,460

Direct Plan - Growth option 84,988 2,746 34,744 1,460 Direct Plan - Dividend option 7,821 71 1,040 29

1,828,011 899,129 829,471 224,377

50




RESERVES AND SURPLUS Mirae Asset

India-China Consumption Fund Mirae Asset




Balance, beginning of year (109) (450) (40,133) (47,115)

Net premium on issue / redemption of units 2,704 1,666 (7,742) (36,057)Transferred to/(from) equalisation account (1,076) (1,325) 16,952 43,039

Balance, end of year/period 1,519 (109) (30,923) (40,133)


Balance, beginning of year/period 8,792 10,063 11,543 50,039 Unrealised appreciation in value of investments 27,382 (1,271) 897 (38,496)


Retained surplus


Transfer to revenue account (5,594) (4,503) - - Surplus transferred from revenue account 13,688 16,832 (11,416) (10,164)


Total reserves and surplus 62,618 25,515 21,811 23,120


Growth option 50,839 19,393 15,968 16,574

Dividend option 10,399 6,036 5,583 6,465

Direct Plan - Growth option 1,331 79 238 75 Direct Plan - Dividend option 49 7 22 6

62,618 25,515 21,811 23,120


51



(All amounts in thousands of Rupees)RESERVES AND SURPLUS Mirae Asset China Advantage Fund

31 March, 2014 31 March, 2013


Balance, beginning of year 19,805 26,545

Net premium on issue / redemption of units (3,839) (7,549)Transferred to/(from) equalisation account 3,172 810

Balance, end of year/period 19,138 19,805


Balance, beginning of year/period 6,436 - Unrealised appreciation in value of investments 34,302 6,436

Balance, end of year/period 40,738 6,436

Retained surplus

Balance, beginning of year/period 1,312 (18,023)

Transfer to revenue account - - Surplus transferred from revenue account (645) 19,335

Balance, end of year/period 667 1,312

Total reserves and surplus 60,543 27,553


Growth option 45,495 21,965

Dividend option 10,743 4,867

Direct Plan - Growth option 4,268 717 Direct Plan - Dividend option 37 4

60,543 27,553


52



(All amounts in thousands of Rupees) Mirae Asset




5. CURRENT LIABILITIES

Amount due to AMC for management fee 4,113 3,018 2,267 1,462

- Others - - - -

Sundry creditors for units redeemed by investors 8,955 3,243 3,084 211

Contract for purchase of investments 27,642 - 24,552 -

Units pending allotment - 225 - -

Commission payable to distributors 11,724 5,513 3,525 2,963

Custodian Fees Payable 47 69 27 35

Load Pending Utilisation #0 541 - 56

Other current liabilities 2,578 2,138 1,272 914

55,059 14,747 34,727 5,641

Mirae Asset India-China Consumption Fund



CURRENT LIABILITIES

Amount due to AMC for management fee 205 181 141 195

- Others - - - -

Sundry creditors for units redeemed by investors 233 135 1,173 752

Contract for purchase of investments - - 0 -

Units pending allotment - - - -

Commission payable to distributors 257 285 440 463

Custodian Fees Payable 3 4 67 48

Load Pending Utilisation - - 49 18

Other current liabilities 576 230 3,291 448

1,274 835 5,161 1,924


31 March, 2014 31 March, 2013

CURRENT LIABILITIES

Amount due to AMC for management fee 172 338

- Others - -

Sundry creditors for units redeemed by investors 1,463 1,600

Contract for purchase of investments - -

Units pending allotment - -

Commission payable to distributors 364 518

Custodian Fees Payable - 3

Load Pending Utilisation - 603

Other current liabilities 915 363

2,914 3,425

# Amount less than Rupees 0.5 thousand.

53



(All amounts in thousands of Rupees)Mirae Asset




6. INVESTMENTS

Domestic equity shares 3,989,636 2,735,727 21,65,410 1,312,663

Preference Shares 4,465 2,640 -

International equity shares - - - -

Mutual fund units 25,340 - - -

International mutual fund units - - - -

4,019,441 2,735,727 2,168,050 1,312,663




INVESTMENTS

Domestic equity shares 141,847 116,730 42,522 55,622

Preference Shares 300 - - -

International equity shares 49,715 44,111 86,852 119,931

Mutual fund units - - - -

International mutual fund units - - - -

191,862 160,841 129,374 175,553


31 March, 2014 31 March, 2013

INVESTMENTSDomestic equity shares - -

Preference Shares - -

International equity shares - -

Mutual fund units - -

International mutual fund units 261,776 308,643

261,776 308,643

(i) All the investments are held in the name of the Scheme, as per clause 7 of SeventhSchedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.(ii) Aggregate appreciation and depreciation in the value of investments are as follows:


54







Equity shares - Domestic

- appreciation 856,202 353,147 483,595 146,513

- depreciation 37,133 1,24,126 21,788 74,164

Equity shares - International

- appreciation - - - -

- depreciation - - - -

Preference Shares

- appreciation 4,465 - 2,640 -


Mutual Fund Units

- appreciation 336 - - -


International mutual fund units



823,869 229,021 464,447 72,349

20.50% 8.37% 21.42% 5.51%

55




India China Consumption Fund Mirae Asset




- appreciation 28,241 8,853 3,779 1,406

- depreciation 288 5,500 2,611 10,278

1,168 (8,872)


- appreciation 10,167 6,652 13,718 17,156

- depreciation 2,245 1,213 2,446 5,613

11,543

Preference Shares

- appreciation 300 - - -


Mutual Fund Units






36,174 8,792 12,440 2,671

18.85 5.47 9.62 2,671

56



(All amounts in thousands of Rupees) Mirae Asset China Advantage Fund

31 March, 2014 31 March, 2013


- appreciation - -

- depreciation -


- appreciation - -

- depreciation - -

Preference Shares

- appreciation - -

- depreciation - -

Mutual Fund Units

- appreciation - -

- depreciation - -


- appreciation 40,738 6,436

- depreciation - -

40,738 6,436

15.56% 2.09%

(iii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows:



April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

Purchases (excluding collateralised lending and fixed deposits)

- amount 1,853,071 1,750,540 1,606,227 1,139,524

- as a percentage of average daily net assets 60.15% 65.94% 100.94% 92.70%

Sales / Redemptions (excluding collateralised lending and fixed deposits)

- amount 1,368,202 1,492,131 1,296,794 1,021,345


57




India China Consumption Fund Mirae Asset


April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013


- amount 119,648 167,157 12,726 91,239



- amount 129,786 181,476 64,927 285,800



April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013


- amount 37,395 39,840

- as a percentage of average daily net assets 14.24% 10.33%


- amount 127,645 278,346


(i) The details of investments by a company in excess of 5% of the net assets of a scheme and investment made by the scheme or by any other scheme for the current year in that company and the market value as at 31st March 2014 as per the disclosure requirement under Regulation 25(11) or the SEBI Regulations are disclosed in Annexure I to the financial statements.

(ii) Outstanding investments in the Sponsor company and its group companies as at the balance sheet date is Nil (Previous year Nil).(iii) The Schemes have not entered into any derivative transactions during the current and previous year.

58







7. OTHER CURRENT ASSETS

Balances with banks in current accounts 13,262 3,867 6,781 1,851

Sundry debtors for units issued to investors

- Lateral shift receivable 63,357 10,870 25,090 2,043

- Others - - - -

Contracts for sale of investments 3,890 14,612 44,933 5,532

Margin deposit with Clearing Corporation of India Limited 2,672 2,714 1,430 1,287

Interscheme receivable - - - -

Outstanding and accrued income 1,346 676 126 552

Amount due from AMC 8,786 2,732 1,996 567

Collateralised lending 112,123 12,196 93,525 59,219

Other current assets 656 329 981 286

206,092 47,996 174,862 71,337




OTHER CURRENT ASSETS

Balances with banks in current accounts 263 290 4,044 348


- Lateral shift receivable 431 313 223 291

- Others - - - -

Contracts for sale of investments 1,499 - 1,697 -

Margin deposit with Clearing Corporation of India Limited 145 163 108 183

Interscheme receivable - - - -

Outstanding and accrued income 2 - 408 460

Amount due from AMC 75 82 183 689

Collateralised lending 5,857 5,748 625 1,210

Other current assets 31 15 20 21

8,303 6,611 7,308 3,202

59






April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

8. INTEREST

Debentures and bonds - 6 - -

Deposits 211 38 94 18


6,087 4,469 3,911 2,966



April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

INTEREST

Debentures and bonds - - - -

Deposits 5 3 3 98

Collateralised lending 418 314 121 455

423 317 124 553



April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

INTEREST

Debentures and bonds - -

Deposits 5 7

Collateralised lending 307 435

312 442

60



9. MANAGEMENT AND TRUSTEESHIP FEE The Scheme pays fees for investment management services (excluding service tax) under an agreement with the AMC, which provides for computation

of such fee as a percentage of the Scheme’s average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme and net asset value of investment made in other schemes, if any.


India Opportunities FundMirae Asset


April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

Management fee at annualised average rate 1.25% 1.14% 1.27% 1.22%



April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013



April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

Management fee at annualised average rate 1.09% 0.96%

The Scheme has paid for Trusteeship services at the rate of 0.03 per cent for the period from April 2013 to March 2014 of the Scheme’s average daily net assets, subject to a minimum of Rs.5 lakhs per annum for all schemes. The Trustee company has waived off the Trusteeship fees from 6th, January 2014 to 31st, March 2014 for all the schemes of Mirae Asset Mutual Fund.(Previous year: At the rate of 0.03 of the Scheme’s average daily net assets, subject to a minimum of Rs.5 lakhs per annum for all schemes).


61



10. INCOME AND EXPENDITURE The total income and expenditure and these amounts as a percentage of the scheme’s average daily net assets on an annualised basis are provided below:




April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

Income (Includes refund - scheme expenses )

- amount 257,940 126,631 188,498 145,403

- as a percentage of average daily net assets 8.37% 4.77% 11.85% 11.83%Expenditure (excluding provision for net unrealised loss in value of investments, realised loss on sale of investments, realised loss on inter-scheme transfer/sale of investments)

- amount 82,082 67,125 43,799 32,460




April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013


- amount 17,693 22,559 13,018 40,732

- as a percentage of average daily net assets 9.91% 14.01% 8.40% 13.69%Expenditure (excluding provision for net unrealised loss in value of investments, realised loss on sale of investments, realised loss on inter-scheme transfer/sale of investments)

- amount 5,081 4,321 4,428 7,714



April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013


- amount 27,893 50,795

- as a percentage of average daily net assets 10.62% 13.17%Expenditure (excluding provision for net unrealised loss in value of investments, realised loss on sale of investments, realised loss on inter-scheme transfer/sale of investments)

- amount 5,739 8,474


62



11. UNHEDGED FOREIGN CURRENCY EXPOSUREMirae Asset


Emerging Bluechip FundForeign currency exposure that has not been hedged by derivative instruments NA NA NA NA

UNHEDGED FOREIGN CURRENCY EXPOSUREMirae Asset

India China Consumption FundMirae Asset

Global Commodity Stocks FundForeign currency exposure that has not been hedged by derivative instruments 49,715 44,111 92,859 120,604

UNHEDGED FOREIGN CURRENCY EXPOSUREMirae Asset


Foreign currency exposure that has not been hedged by derivative instruments 261,776 310,147

12. TRANSACTIONS COVERED BY REGULATION 25(8) OF THE SEBI REGULATION WITH THE SPONSOR OR ASSOCIATE OF THE SPONSOR

ParticularsMirae Asset




Commission paid for procuring unit capital

Satco Capital Markets Limited 0.32 - - -

Brokerage on securities transactions

Mirae Asset Securities (HK) Ltd. - - - -


India China Consumption FundMirae Asset




Satco Capital Markets Limited - -


Mirae Asset Securities (HK) Ltd. 68.23 44.63 25.72 330.72



31 March, 2014 31 March, 2013


Satco Capital Markets Limited - -


Mirae Asset Securities (HK) Ltd. - -


63



13. NET ASSET VALUE

OptionsMirae Asset




Regular - Growth 22.0600 17.5190 17.1640 12.6790

Regular - Dividend 13.3730 11.6860 14.4310 11.5880

Direct - Dividend 16.6400 13.0790 15.8950 11.6130

Direct - Growth 22.3390 17.5600 17.3960 12.7130

OptionsMirae Asset

India-China Consumption FundMirae Asset



Regular - Growth 15.4020 12.3460 11.9800 11.5040

Regular - Dividend 12.6040 11.0390 11.9800 11.5040

Direct - Dividend 15.6040 12.3800 12.0590 11.5330

Direct - Growth 15.6040 12.3810 12.0590 11.5330

OptionsMirae Asset


31 March, 2014 31 March, 2013

Regular - Growth 12.9500 10.9790

Regular - Dividend 12.9500 10.9790

Direct - Dividend 13.0490 10.9920

Direct - Growth 13.0490 10.9920

The net asset value of the Scheme’s unit is determined separately for units issued under the options after including the respective unit capital and reserves and surplus.

14. CONTINGENT LIABILITIESAt March 31 2014 - Nil (March 31 2013 - Nil).

15. PREVIOUS YEAR'S COMPARATIVESFigures for the previous years have been regrouped / reclassified, wherever necessary to confirm to current years presentations.

16. SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRYWISE CLASSIFICATION (REFER ANNEXURE II)











64


Annexure I

Disclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996Investments made by the schemes of Mirae Asset Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme

Name of the Company Scheme Invested by the Company

Investments made by the Schemes of MIRAE Asset Mutual Fund in the

Company or its subsidiary

Aggregate cost of acquisition

(Rupees in '000)

Outstanding as on March 31, 2014 (Rupees in '000)

Financial Technologies India Ltd.

Mirae Asset Ultra Short Term Bond Fund

Mirae Asset Emerging Blue Chip Fund 6,613.05 -

Multi Commodity Exchange of India Ltd.



Mirae Asset India Opportunities Fund 36,809.61 -

Note: The above said investments were made to optimize return and high liquidity. The investments have been made purely on fundamental consideration after carrying out proper due diligence & research.

65

MIRAE ASSET MUTUAL FUNDAnnexure II (1)

MIRAE ASSET INDIA OPPORTUNITIES FUNDDetails of investment portfolio and industrywise classification of the Scheme’s investments in each category of investments at 31 March 2014 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets as at 31 March 2014, as well as the aggregate investments in each investment category.

Industry and Company Particulars* quantity Amt.

(Rupees in '000) Percentage to

Net Assets

Percentage to Investment category (%)

EqUITY SHARES

Auto 545,500 189,736 4.55% 4.75%

Maruti Suzuki India Ltd. 41,950 82,715 1.98% 2.07%

Tata Motors Ltd. DVR Shares 477,550 96,656 2.32% 2.42%

Tata Motors Ltd. 26,000 10,365 0.25% 0.26%

Auto Ancillaries 979,294 239,124 5.74% 6.00%

Amara Raja Batteries Ltd. 248,429 97,981 2.35% 2.46%

Exide Industries Ltd. 339,500 41,130 0.99% 1.03%

Motherson Sumi Systems Ltd. 391,365 100,013 2.40% 2.51%

Banks 1,626,178 790,731 18.96% 19.83%

Axis Bank Ltd. 35,000 51,118 1.23% 1.28%

Bank Of Baroda 78,700 56,723 1.36% 1.42%

Hdfc Bank Ltd. 272,000 203,673 4.88% 5.11%

Icici Bank Ltd. 237,800 296,073 7.10% 7.42%

Indian Bank 145,578 16,720 0.40% 0.42%

State Bank Of India 46,300 88,790 2.13% 2.23%

The Federal Bank Ltd. 810,800 77,634 1.86% 1.95%

Cement 1,177,242 75,796 1.81% 1.90%

JK Cement Ltd. 151,733 36,416 0.87% 0.91%

Prism Cement Ltd. 1,025,509 39,380 0.94% 0.99%

Chemicals 284,699 80,697 1.93% 2.02%

Tata Chemicals Ltd. 111,000 31,879 0.76% 0.80%

Vinati Organics Ltd. 173,699 48,818 1.17% 1.22%

Construction Project 98,250 124,964 3.00% 3.13%

Larsen & Toubro Ltd. 98,250 124,964 3.00% 3.13%

Consumer Durables 131,700 34,598 0.83% 0.87%

Titan Company Limited 131,700 34,598 0.83% 0.87%

Consumer Non Durables 604,214 318,826 7.65% 7.99%

Colgate Palmolive (India) Ltd. 28,280 38,814 0.93% 0.97%

Godfrey Phillips India Ltd. 14,534 46,585 1.12% 1.17%

ITC Ltd. 546,000 192,656 4.62% 4.83%

United Spirits Ltd. 15,400 40,771 0.98% 1.02%

66


MIRAE ASSET INDIA OPPORTUNITIES FUND



Net Assets


Ferrous Metals 146,400 57,674 1.38% 1.45%

Tata Steel Ltd. 146,400 57,674 1.38% 1.45%

Finance 1,339,463 238,926 5.73% 5.99%

Housing Development Finance Corporation Ltd. 201,275 177,907 4.27% 4.46%

PTC India Financial Services Ltd. 1,068,899 15,125 0.36% 0.38%

Sundaram Finance Ltd. 69,289 45,894 1.10% 1.15%

Industrial Capital Goods 303,500 48,681 1.17% 1.22%

Crompton Greaves Ltd. 303,500 48,681 1.17% 1.22%

Industrial Products 190,631 27,947 0.67% 0.70%

Carborundum Universal Ltd. 190,631 27,947 0.67% 0.70%

Media & Entertainment 786,539 125,683 3.01% 3.15%

HT Media Ltd. 492,809 45,979 1.10% 1.15%

Zee Entertainment Enterprises Ltd. 293,730 79,704 1.91% 2.00%

Minerals/Mining 160,000 46,200 1.11% 1.16%

Coal India Ltd. 160,000 46,200 1.11% 1.16%

Oil 369,096 119,676 2.87% 3.00%

Cairn India Ltd. 143,000 47,619 1.14% 1.19%

Oil & Natural Gas Corporation Ltd. 226,096 72,057 1.73% 1.81%

Petroleum Products 428,400 231,387 5.55% 5.80%

Hindustan Petroleum Corporation Ltd. 269,500 83,491 2.00% 2.09%

Reliance Industries Ltd. 158,900 147,896 3.55% 3.71%

Pharmaceuticals 465,220 406,464 9.75% 10.19%

Aurobindo Pharma Ltd. 87,500 44,756 1.07% 1.12%

Cadila Healthcare Ltd. 77,555 79,490 1.91% 1.99%

Cipla Ltd. 5,500 2,105 0.05% 0.05%

Divi's Laboratories Ltd. 72,606 99,172 2.38% 2.49%

Dr. Reddy's Laboratories Ltd. 9,139 23,431 0.56% 0.59%

IPCA Laboratories Ltd. 51,500 43,510 1.04% 1.09%

Lupin Ltd. 59,220 55,261 1.33% 1.39%

Sun Pharmaceuticals Industries Ltd. 102,200 58,739 1.41% 1.47%

Power 91,850 46,040 1.10% 1.15%

CESC Ltd. 91,850 46,040 1.10% 1.15%

Services 28,253 30,832 0.74% 0.77%

Aditya Birla Nuvo Ltd. 28,253 30,832 0.74% 0.77%

67


MIRAE ASSET INDIA OPPORTUNITIES FUND



Net Assets


Software 192,592 492,619 11.82% 12.34%

CMC Ltd. 3,539 4,915 0.12% 0.12%Infosys Ltd. 85,453 280,525 6.73% 7.03%

Tata Consultancy Services Ltd. 62,700 133,749 3.21% 3.35%

Tech Mahindra Ltd. 40,900 73,430 1.76% 1.84%

Telecom - Services 362,291 115,118 2.76% 2.89%

Bharti Airtel Ltd. 362,291 115,118 2.76% 2.89%

Textile Products 621,959 35,700 0.86% 0.89%

Himatsingka Seide Ltd. 621,959 35,700 0.86% 0.89%

Transportation 655,289 112,217 2.69% 2.81%

Adani Ports and Special Economic Zone Ltd. 166,000 31,117 0.75% 0.78%

Gateway Distriparks Ltd. 489,289 81,100 1.94% 2.03%

Total 11,588,560 3,989,636 95.66% 100.00%

PREFERENCE SHARES

Media & Entertainment 6,378,330 4,465 0.11% 100.00%

6% Cum. NCV Zee Entertainment Enterprises Ltd. 6,378,330 4,465 0.11% 100.00%

Total 6,378,330 4,465 0.11% 100.00%

MUTUAL FUND UNITS

Miscellaneous 2,500,440 25,340 0.61% 100.00%

Mirae Asset Fixed Mat Plan Sr I 368 Day Dir Growth 2,500,440 25,340 0.61% 100.00%

Total 2,500,440 25,340 0.61% 100.00%

OTHER CURRENT ASSETS 206,092 4.94%

TOTAL ASSETS 4,225,533 101.32%

LESS: CURRENT LIABILITIES 55,059 1.32%

NET ASSETS 4,170,474 100.00%

* Industry classification has been done on the basis of industry information provided by AMFI

68


MIRAE ASSET EMERGING BLUE CHIP FUND

SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRYWISE CLASSIFICATION Details of investment portfolio and industrywise classification of the Scheme’s investments in each category of investments at 31 March 2014 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets as at 31 March 2014, as well as the aggregate investments in each investment category.



Net Assets


EqUITY SHARES

Auto 35,382 70,843 3.07% 3.27%

Eicher Motors Ltd. 7,508 44,759 1.94% 2.07%

VST Tillers Tractors Ltd. 27,874 26,084 1.13% 1.20%



Exide Industries Ltd. 207,533 25,143 1.09% 1.16%

Motherson Sumi Systems Ltd. 300,684 76,840 3.33% 3.55%

Banks 1,303,966 301,676 13.07% 13.92%

Bank of Baroda 33,300 24,001 1.04% 1.11%

ICICI Bank Ltd. 60,400 75,201 3.26% 3.47%

Indian Bank 116,577 13,389 0.58% 0.62%

ING Vysya Bank Ltd. 46,877 29,762 1.29% 1.37%


The Jammu & Kashmir Bank Ltd. 22,217 34,170 1.48% 1.58%

Yes Bank Ltd. 85,000 35,186 1.52% 1.62%

Cement 1,242,985 65,122 2.82% 3.01%

JK Cement Ltd. 86,267 20,704 0.90% 0.96%

Prism CEMENT Ltd. 1,156,718 44,418 1.92% 2.05%

Chemicals 333,367 94,375 4.09% 4.36%

Tata Chemicals Ltd. 111,000 31,879 1.38% 1.47%

Vinati Organics Ltd. 222,367 62,496 2.71% 2.89%


Titan Company Limited 108,650 28,542 1.24% 1.32%

VIP Industries Ltd. 336,395 35,221 1.53% 1.63%


Akzo Nobel India Ltd. 33,136 29,882 1.29% 1.38%

Britannia Industries Ltd. 25,463 21,475 0.93% 0.99%



Tata Global Beverages Ltd. 100,000 15,005 0.65% 0.69%

Venky's (India) Ltd. 22,120 10,707 0.46% 0.49%

69





Net Assets


Finance 1,960,006 136,753 5.92% 6.31%

ICRA Ltd. 10,416 19,771 0.86% 0.91%

LIC Housing Finance Ltd. 69,803 16,484 0.71% 0.76%

PTC India Financial Services Ltd. 1,765,781 24,986 1.08% 1.15%

Sundaram Finance Ltd. 114,006 75,512 3.27% 3.49%

Gas 403,305 35,396 1.53% 1.64%

Gujarat State Petronet Ltd. 293,305 20,326 0.88% 0.94%

Petronet LNG Ltd. 110,000 15,070 0.65% 0.70%

Industrial Capital Goods 205,527 32,967 1.43% 1.52%

Crompton Greaves Ltd. 205,527 32,967 1.43% 1.52%

Industrial Products 3,04,840 78,634 3.41% 3.63%

Carborundum Universal Ltd. 2,85,253 41,818 1.81% 1.93%

FAG Bearings India Ltd. 19,587 36,816 1.60% 1.70%


HT Media Ltd. 483,236 45,086 1.95% 2.08%Zee Entertainment Enterprises Ltd. 159,589 43,304 1.88% 2.00%

Minerals/Mining 247,265 32,614 1.41% 1.51%

Gujarat Mineral Development Corporation Ltd. 247,265 32,614 1.41% 1.51%

Oil 65,000 31,463 1.36% 1.45%

Oil India Ltd. 65,000 31,463 1.36% 1.45%

Paper 124,452 15,967 0.69% 0.74%

Tamil Nadu Newsprint & Papers Ltd. 124,452 15,967 0.69% 0.74%


Gulf Oil Corporation Ltd. 308,685 33,569 1.45% 1.55%



Aurobindo Pharma Ltd. 68,500 35,038 1.52% 1.62%


Divi's Laboratories Ltd. 56,467 77,129 3.34% 3.56%

Glenmark Pharmaceuticals Ltd. 65,475 37,006 1.60% 1.71%


Lupin Ltd. 12,164 11,351 0.49% 0.52%

Torrent Pharmaceuticals Ltd. 49,019 25,698 1.11% 1.19%

70

Software 206,816 191,963 8.32% 8.87%

CMC Ltd. 140 194 0.01% 0.01%

Eclerx Services Ltd. 20,550 21,805 0.94% 1.01%

Info Edge (India) Ltd. 62,278 38,587 1.67% 1.78%

NIIT Technologies Ltd. 70,000 28,179 1.22% 1.30%

Oracle Financial Services Software Ltd. 5,048 15,585 0.68% 0.72%

Tech Mahindra Ltd. 48,800 87,613 3.80% 4.05%



Transportation 531,309 90,430 3.92% 4.18%

Adani Ports and Special Economic Zone Ltd. 109,000 20,432 0.89% 0.94%


Total 10,372,648 2,165,410 93.81% 100.00%

PREFERENCE SHARES

Media & Entertainment 3,771,369 2,640 0.11% 100.00%

6% Cum. NCV Zee Entertainment Enterprises Ltd. 3,771,369 2,640 0.11% 100.00%

Total 3,771,369 2,640 0.11% 100.00%


TOTAL ASSETS 2,342,912 101.50%


NET ASSETS 2,308,185 100.00%






Net Assets


Power

CESC Ltd. 77,524 38,859 1.68% 1.79%

Services 23,100 25,209 1.09% 1.16%

71




Industry and Company Particulars quantity Amt.


Net Assets


DOMESTIC EqUITY SHARES *

Auto 45,000 15,213 7.65% 10.73%

Maruti Suzuki India Ltd. 3,450 6,803 3.42% 4.80%

Tata Motors Ltd DVR Shares 41,550 8,410 4.23% 5.93%



Banks 62,750 20,662 10.39% 14.57%

ICICI Bank Ltd. 12,750 15,874 7.98% 11.19%


Cement 8,850 2,124 1.07% 1.50%

JK Cement Ltd. 8,850 2,124 1.07% 1.50%


Titan Company Limited. 8,150 2,141 1.08% 1.51%

VIP Industries Ltd. 31,542 3,302 1.66% 2.33%


Akzo Nobel India Ltd. 2,601 2,345 1.18% 1.65%

Britannia Industries Ltd. 3,296 2,780 1.40% 1.96%



ITC Ltd. 37,000 13,055 6.56% 9.20%

Nestle India Ltd. 525 2,640 1.33% 1.86%

United Spirits Ltd. 1,500 3,971 2.00% 2.80%

Venky's (India) Ltd. 3,018 1,461 0.73% 1.03%

Finance 10,000 8,839 4.44% 6.23%

Housing Development Finance Corporation Ltd. 10,000 8,839 4.44% 6.23%


HT Media Ltd. 31,087 2,900 1.46% 2.04%

Zee Entertainment Enterprises Ltd. 20,398 5,535 2.78% 3.90%


Gulf Oil Corporation Ltd. 27,000 2,936 1.48% 2.07%


72



Annexure II (3) quantity Amt.


Net Assets





Services 2,000 2,183 1.10% 1.54%

Aditya Birla Nuvo Ltd. 2,000 2,183 1.10% 1.54%

Software 6,250 3,873 1.95% 2.73%

Info Edge (India) Ltd. 6,250 3,873 1.95% 2.73%

Telecom - Services 23,078 7,333 3.69% 5.17%

Bharti Airtel Ltd. 23,078 7,333 3.69% 5.17%



Transportation 37,479 6,212 3.12% 4.38%


Total 461,197 141,847 71.32% 100.00%

PREFERENCE SHARES

Media & Entertainment 428,358 300 0.15% 100.00%

Zee Entertainment Enterprises Ltd. 428,358 300 0.15% 100.00%

Total 428,358 300 0.15% 100.00%

INTERNATIONAL EqUITY SHARES @@

Apparel, Accessories and Luxury Goods 35,900 9,778 4.91% 19.67%

Prada Spa 11,000 5,160 2.59% 10.38%

Samsonite International S A 24,900 4,618 2.32% 9.29%

Automobile Manufacturers 30,000 2,749 1.38% 5.53%

Brilliance China Automotive Holdings Ltd. 30,000 2,749 1.38% 5.53%

Casinos & Gaming 13,000 6,776 3.41% 13.63%

Galaxy Entertainment Group Ltd. 13,000 6,776 3.41% 13.63%

DiversifiedBanks 99,000 3,873 1.95% 7.79%

China Construct BK-H 44,000 1,846 0.93% 3.71%

Ind & Comm Bk - H 55,000 2,027 1.02% 4.08%

73

Hypermarkets and Supercenters 80,000 6,027 3.03% 12.12%

Sun Art Retail Group Ltd. 80,000 6,027 3.03% 12.12%

Internet Software & Services 1,500 6,253 3.14% 12.58%

Tencent Holdings 1,500 6,253 3.14% 12.58%

Packaged Foods & Meats 18,000 3,095 1.56% 6.23%

Tingyi (Cayman Islands) Holdings Corp 18,000 3,095 1.56% 6.23%

Personal Products 6,500 4,036 2.03% 8.12%

Hengan International Group Co Ltd 6,500 4,036 2.03% 8.12%

Wireless Telecommunication Services 11,000 6,035 3.03% 12.14%

China Mobile 11,000 6,035 3.03% 12.14%

Total 310,900 49,715 25.00% 100.00%

Grand Total 191,862 96.47%

DEPOSITS


TOTAL ASSETS 200,165 100.64%


NET ASSETS 198,891 100.00%


@@ Industry Classification has been done on the basis of GICS Sub-Industry Classification



Annexure II (3) quantity Amt.


Net Assets


Health Care Supplies 16,000 1,093 0.55% 2.20%

Shandong Weigao Gr Medical Polymerco Ltd. 16,000 1,093 0.55% 2.20%

74






Net Assets


DOMESTIC EqUITY SHARES *

Ferrous Metals 10,000 3,940 3.00% 9.27%

Tata Steel Ltd. 10,000 3,940 3.00% 9.27%

Minerals/Mining 40,000 8,348 6.34% 19.63%

Coal India Ltd. 12,000 3,465 2.63% 8.15%

Gujarat Mineral Development Corporation Ltd. 7,000 923 0.70% 2.17%

Sesa Sterlite Ltd. 21,000 3,960 3.01% 9.31%

Non - Ferrous Metals 20,000 2,835 2.16% 6.67%

Hindalco Industries Ltd. 20,000 2,835 2.16% 6.67%

Oil 39,000 12,529 9.52% 29.46%

Cairn India Ltd. 7,000 2,331 1.77% 5.48%

Oil & Natural Gas Corporation Ltd. 32,000 10,198 7.75% 23.98%


Bharat Petroleum Corporation Ltd. 4,000 1,840 1.40% 4.33%

Reliance Industries Ltd. 14,000 13,030 9.91% 30.64%

Total 127,000 42,522 32.33% 100.00%

INTERNATIONAL EqUITY SHARES @@

Coal & Consumable Fuels 16,000 2,769 2.11% 3.19%

China Shenhua - H 16,000 2,769 2.11% 3.19%

Commodity Chemicals 2,145 5,214 3.96% 6.00%

LG Chemicals Ltd. 200 2,860 2.17% 3.29%

Orica Ltd. 1,945 2,354 1.79% 2.71%

Construction Materials 45,000 4,941 3.76% 5.69%

Anhui Conch -H- 9,000 2,312 1.76% 2.66%

China National Building Materia Ltd. 16,000 962 0.73% 1.11%

PT Semen Indonesia ( Persero) TBK 20,000 1,667 1.27% 1.92%

DiversifiedMetals&Mining 24,166 21,332 16.22% 24.57%

BHP Billiton Ltd. 6,000 12,105 9.20% 13.94%

Jiangxi Copper Company Ltd. 16,000 1,612 1.23% 1.86%

75





Net Assets


Rio Tinto Ltd. 2,166 7,615 5.79% 8.77%

Integrated Oil & Gas 245,000 18,108 13.77% 20.85%

China Petroleum -H- 130,000 6,972 5.30% 8.03%

Origin Energy Ltd. 5,000 3,953 3.01% 4.55%

Petrochina Company Ltd. 110,000 7,183 5.46% 8.27%

Oil & Gas Exploration & Production 117,497 20,902 15.88% 24.06%

Cnooc Ltd 79,000 7,117 5.41% 8.19%

Kunlun Energy Company Ltd 26,000 2,608 1.98% 3.00%

Oil Search Ltd 5,030 2,354 1.79% 2.71%

Santos Ltd-AUD 5,167 3,859 2.93% 4.44%

Woodside Petroleum Ltd 2,300 4,964 3.77% 5.72%

Oil&GasRefining&Marketing 475 3,262 2.48% 3.76%

SK Innovation Co Ltd 475 3,262 2.48% 3.76%

Paper Packaging 9,242 3,029 2.30% 3.49%

Amcor Limited 4,664 2,681 2.04% 3.09%

Orora Ltd 4,578 348 0.26% 0.40%

Steel 8,770 7,295 5.54% 8.40%

Fortescue Metals Group Ltd 8,480 2,463 1.87% 2.84%

Posco (Pohang Iron & Steel Co Ltd ) 290 4,832 3.67% 5.56%

Total 468,295 86,852 66.04% 100.00%

Grand Total 129,374 98.37%

DEPOSITS


TOTAL ASSETS 136,682 103.92%


NET ASSETS 131,521 100.00%


@@ Industry Classification has been done on the basis of GICS Sub-Industry Classification

76




quantity Industry and Company Particulars quantity Amt.

(Rupees in '000)

Percentage to Net Assets

Percentage to Investment category

(%)

INTERNATIONAL MUTUAL FUND UNITS

Mirae Asset China Sector Leader Equity Fund - USD Class X 458,635 261,776 98.75% 100.00%

Total 261,776 98.75% 100.00%


TOTAL ASSETS 268,008 101.10%


NET ASSETS 265,094 100.00%


77

MIRAE ASSET MUTUAL FUNDBALANCE SHEET AS AT 31 MARCH 2014/ 30 JULY 2013


Mirae Asset Cash Management Fund

Mirae Asset Liquid Fund

31 March, 2014

31 March, 2013

30 July, 2013

31 March, 2013

Schedule

SOURCES OF FUNDS

Unit capital 2(b) & 3 165,325 41,259 13,183 9,591

Reserves and surplus 2(b) & 4 39,916 7,472 1,578 1,181

Current liabilities 5 2,121 153 144 199

207,362 48,884 14,905 10,971


Investments 2(c) & 6 180,163 - - -


207,362 48,884 14,905 10,971










Sd/-Yadnesh Chavan Fund Manager (Fixed Income)




78

MIRAE ASSET MUTUAL FUNDREVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31 MARCH 2014/ 30 JULY 2013




April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

April 01, 2013 to

July 30, 2013

April 01, 2012 to

March 31, 2013

Schedule

INCOME

Interest 2(d) & 8 16,962 6,727 295 1,389 Profit on sale/redemption of investments, net 4 - - -

Total 16,966 6,727 295 1,389

EXPENSES AND LOSSESLoss on inter-scheme transfer/sale of investments, net 1 #0 - -

Management fee 9 23 65 4 18

Service Tax On Management Fees 3 8 1 2

Trusteeship fee 9 47 25 1 5

Custodian service charges 7 #0 - #0

Registrar service charges 220 111 5 24

Commission to distributors 267 116 3 15

Audit fee 47 56 2 57

CBLO charges 143 94 10 21

Investor Protection Fund Expense 39 9 1 1

Other operating expenses 105 67 4 23

902 551 31 166 Less: Expenses reimbursed / to be reimbursed by AMC (490) (243) (18) (91)

Total 412 308 13 75


79

MIRAE ASSET MUTUAL FUNDREVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31 MARCH 2014/ 30 JULY 2013




April 01, 2013 to

March 31, 2014

April 01, 2012 to

March 31, 2013

April 01, 2013 to

July 30, 2013

April 01, 2012 to

March 31, 2013

Surplus for the year 16,554 6,419 282 1,315

Equalisation (Debit) / Credit 2(e) 20,861 (3,258) 253 (10,045)

Transfer from Retained Earning 5,011 2,513 1 39

Income distribution on capital account (3,893) (1,949) (1) (31)Tax on distributed income (1,118) (564) #0 (9)

Surplus/(Deficit)transferred to the balance sheet 4 37,415 3,161 535 (8,731)

# Amount less than Rupees 0.5 thousand The accompanying schedules are an integral part of this balance sheet.As per our report of even date.













80


ENDED 31 MARCH 2014

1. BACKGROUNDMirae Asset Global Investments Company Limited is the sponsor of Mirae Asset Mutual Fund (‘The Fund’).In accordance with SEBI (Mutual Funds) Regulations, 1996 (‘the SEBI Regulations’), the Board of Directors of Mirae Asset Trustee Company Private Limited (‘the Trustee’) has appointed Mirae Asset Global Investments (India) Private Limited (‘the AMC’) to manage the Fund’s affairs and operate its schemes.

Scheme Name Type of Scheme Investment objective of the schemeNFO OpenNFO Close

Options


Open ended Liquid Scheme

The investment objective of the Scheme is to generate returns linked to short end rates like MIBOR and CBLO etc. and provide higher liquidity by investing in a portfolio of debt and money market instruments.

January 05, 2009to

January 06, 2009

Direct Plan - Growth option Direct Plan - Daily Dividend option Direct Plan - Weekly Dividend option Direct Plan - Monthly Dividend optionRegular - Growth optionRegular - Daily Dividend Regular - Weekly Dividend Regular - Monthly Dividend


Open ended Liquid Scheme

The investment objective of the Scheme is to generate reasonable returns with low volatility and higher liquidity through a portfolio of debt and money market instruments.

February 27, 2008to

March 03, 2008

Direct Plan - Growth option Institutional - Growth option Institutional - Monthly option Institutional - Weekly option Regular Daily Dividend Regular Growth Regular Monthly Dividend Regular Weekly

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Board of Directors of the AMC and the Trustee, are stated below.

(a) Determination of net asset value - The net asset value of the units of the Scheme is determined separately for the units issued under the options. - For reporting the net asset values within the portfolio, the Scheme’s daily income earned, including realised profit or loss and unrealised gain or

loss in the value of investments, and expenses accrued, are allocated to the related options in proportion to their respective daily net assets arrived at by multiplying day end outstanding units to previous day’s closing net asset value.

(b) Unit capital - Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period ended on that date. - Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each

option, after an appropriate portion of the issue proceeds and redemption payouts is credited/debited to the equalisation account, a mandatory requirement for open ended mutual fund schemes.

(c) Investments

Accounting for investment transactions - Purchase and sale of investments are recorded on the date of the transaction, at cost and sale price respectively, after considering brokerage,

commission, CCIL charges and fees payable or receivable, if any.

Valuation of investments - All investments are valued based on the principles of fair valuation and have been valued in good faith in a true and fair manner - Investments in fixed income & money market securities (other than central government securities) are valued as follows:

TRADED (qUOTED)Till 31 December 2013 ,all quoted debt investments other than thinly traded, are considered at prices derived from the weighted average yield to maturity of the traded securities as at the valuation date as obtained from a public platform (FIMMDA / NSE WDM / BSE WDM) using traded volume thresholds or based on yield to maturity derived from trades done by schemes managed by MAAMC (Own Trades). From 1 January 2014 ,the valuation is on the basis of average of prices ( Scrip level prices ) released by CRISIL and ICRA .Quoted debt & money market instruments (other than Government Securities) which are not traded on any stock exchange on the valuation day are considered as non-traded securities.


81


ENDED 31 MARCH 2014

NON TRADED

- INVESTMENT GRADEAll non-government debt securities and money market (not covered under TRADED security) up to 60 days to maturity, are valued on the basis of amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Rating Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.Till 31 December 2013, other non-government debt & money market securities of investment grade (not covered under TRADED security) beyond 60 days to maturity, are valued by taking the aggregated average yields released by CRISIL and ICRA, as suggested by Association of Mutual Funds of India (AMFI), applying fair valuation principles Laid down by SEBI. From ,1 January 2014 , the valuation is on the basis of average of prices ( Scrip level prices ) released by CRISIL and ICRA .

- NON INVESTMENT GRADEAll non-investment grade / non performing debt securities are valued based on the provisioning norms laid down by SEBI.The net unrealized appreciation / depreciation in the value of investment is determined separately for each category of investments. The unrealized loss, if any, between two balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is adjusted in unrealized appreciation reserve.

(d) Revenue recognition - Interest income is recognised on an accrual basis. - Profit or loss on sale/redemption of investments is determined on the basis of the weighted average cost method.

(e) Equalisation account - When units are issued or redeemed, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at


The balance in equalisation account is transferred to revenue account at the year-end without affecting the net income of the Scheme.

(f) Cash and Cash equivalent Cash and cash equivalent includes balance with banks in current accounts, deposits placed with scheduled banks (with an original maturity of upto

three months) and collateralised lending (including reverse purchase transactions).


82



Mirae Asset Cash Management Fund**

March 31, 2014 March 31, 2013

quantity Amount


(Rs. in 000's)

3. Unit Capital

Regular - Growth

Outstanding, beginning of year/period 18,897.823 18,898 27,331.146 27,331

Issued

-during the year/period 192,688.649 192,689 318,419.867 318,420Redeemed during the year/period (147,484.022) (147,484) (326,853.190) (326,853)

Outstanding, end of year/period 64,102.450 64,103 18,897.823 18,898

Regular - Daily Dividend


Issued



Regular - Weekly Dividend


Issued



Regular - Monthly Dividend


Issued




Outstanding, beginning of year/period 1,034.073 1,034 - -

Issued




83


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Cash Management Fund**

March 31, 2014 March 31, 2013

quantity Amount


(Rs. in 000's)

Direct Plan - Daily Dividend option

Outstanding, beginning of year/period 829.683 830 - -

Issued


Outstanding, end of year/period 15,725.963 15,726 829.683 830

Direct Plan - Weekly Dividend option


Issued

-during the year/period 3,678.586 3,679 39.790 40Redeemed during the year/period (2,296.507) (2,297) -


Direct Plan - Monthly Dividend option


Issued during the year/period - 0 4.421 4Redeemed during the year/period (4.421) (4) - -

Outstanding, end of year/period - - 4.421 4

Total


Issued



**Note: Details of large holdings (over 25% of the NAV of the Scheme): Name of the Scheme 31st March, 2014 31st March, 2013


Mirae Asset Cash Management Fund NIL NIL NIL NIL


84


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Liquid Fund**

30 July, 2013 March 31, 2013

quantity Amount


(Rs. in 000's)

Unit Capital

Regular - Growth


Issued

-during the year/period - - 4,770.153 4,770Redeemed during the year/period (430.665) (431) (8,440.983) (8,441)


Regular - Daily Dividend


Issued

-during the year/period - - 2,093.823 2,094Redeemed during the year/period - - (2,317.321) (2,317)


Regular - Weekly Dividend

Outstanding, beginning of year/period 1,292.244 1,292 157.282 157

Issued 0

-during the year/period - - 1,483.245 1,483Redeemed during the year/period (2.007) (2) (348.283) (348)


Regular - Monthly Dividend

Outstanding, beginning of year/period 111.148 112 880.556 881

Issued

-during the year/period - - 116.770 117Redeemed during the year/period (48.159) (48) (886.178) (886)

Outstanding, end of year/period 62.989 64 111.148 112

Institutional Plan - Growth option


Issued

-during the year/period 6,189.181 6,189 35,868.834 35869Redeemed during the year/period (2,014.789) (2,015) (32,733.453) (32,733)


Institutional Plan - Daily Dividend option

Outstanding, beginning of year/period - - 10,003.547 10,004

Issued

-during the year/period - - 7.383 7Redeemed during the year/period - - (10,010.930) (10,011)


85


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Liquid Fund**

30 July, 2013 March 31, 2013

quantity Amount


(Rs. in 000's)

Outstanding, end of year/period - - - -

Institutional Plan - Weekly Dividend option


Issued

-during the year/period - 622.739 623Redeemed during the year/period (26.441) (26) (596.204) (596)


Institutional Plan - Monthly Dividend option


Issued during the year/period 1.421 1 56.023 56Redeemed during the year/period - - (53.330) (53)




Issued

-during the year/period 88.072 88 396.624 397Redeemed during the year/period (165.352) (165) (213.848) (214)


Total

Outstanding, beginning of year/period 9,589.116 9591 19,774.052 19774

Issued

-during the year/period 6,278.674 6279 45,415.594 45416Redeemed during the year/period (2,687.413) (2,687) (55,600.530) (55,599)

Outstanding, end of year/period 13,180.377 13183 9,589.116 9591

**Note: Details of large holdings (over 25% of the NAV of the Scheme): Name of the Scheme 31st March 2014 31st March 2013


Mirae Asset Liquid Fund NIL NIL NIL NIL


86



31 March, 2014 31 March, 2013 30 July, 2013 31 March, 2013

4. RESERVES AND SURPLUS


Balance, beginning of year 9 14 (217,262) (226,281)

Net premium on issue / redemption of units 20,883 (3,263) 116 (1,026)

Transferred to Revenue accountTransferred to equalisation account (20,861) 3,258 (253) 10,045

Balance, end of year/period 31 9 (217,399) (217,262)


Balance, beginning of year/period - - - - Unrealised appreciation in value of investments 18 - -

Balance, end of year/period 18 - - -

Retained surplus


Transfer to revenue account (5,011) (2,513) (1) (39)Surplus transferred from revenue account 37,415 3,161 535 (8,731)


Total reserves and surplus 39,916 7,472 1,578 1,181


Regular - Growth 23,127 4,815 605 618

Regular - Daily Dividend 1,327 210 294 -

Regular - Weekly Dividend 3,429 1,861 221 187

Regular - Monthly Dividend 1,102 270 2 4

Retail Plan - Daily Dividend option - - 247

Institutional Plan - Growth option - 449 117

Institutional Plan - Daily Dividend option - - -

Institutional Plan - Weekly Dividend option - - 1

Institutional Plan - Monthly Dividend option - - -

Direct Plan - Growth option 9,688 264 7 7

Direct Plan - Daily Dividend option 979 45 - -

Direct Plan - Weekly Dividend option 264 6 - - Direct Plan - Monthly Dividend option 1 - -

39,916 7,472 1,578 1,181




87


THE YEAR/PERIOD ENDED 31 MARCH 2014Mirae Asset

Cash Management FundMirae Asset Liquid Fund

31 March, 2014 31 March, 2013 30 July, 2013 31 March, 2013


Amount due to AMC for management fee - 5 1 1

Trusteeship fee payable - - #0 -

Units pending allotment 1,740 25 - -

Commission payable to distributors 252 20 134 135

Dividend tax payable 47 10 - #0

Custodian Fees Payable 1 - - - Other current liabilities 81 93 9 63

2,121 153 144 199




31 March, 2014 31 March, 2013 30 July ,2013 31 March ,2013

6. INVESTMENTSCertificates of deposit 180,163 - - -

180,163 - - -

(i) All the investments are held in the name of the Scheme, as per clause 7 of Seventh Schedule under Regulations 44(1) of SEBI (Mutual Funds) Regulations, 1996.

(ii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows:



April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

July 30, 2013

April 01, 2012to

March 31, 2013

Purchases (excluding collateralised lending and fixed deposits) - amount 1,419,072 - - -

- as a percentage of average daily net assets 726.22% - - -


- amount 12,46,497 - - -

- as a percentage of average daily net assets 637.91% - - -

(iii) The details of investments by a company in excess of 5% of the net assets of a scheme and investment made by the scheme or by any other scheme for the current year in that company and the market value as at 31st March 2014 as per the disclosure requirement under Regulation 25(11) or the SEBI Regulations are disclosed in Annexure I to the financial statements

(iv) Outstanding investments in the Sponsor company and its Group companies as at 31 March 2014 is Nil (Previous Year: Nil).


88





31 March ,2014 31 March ,2013 30 July ,2013 31 March ,2013


Balances with banks in current accounts 1,750 277 4 4

Sundry Debtors for units issued to interest

- lateral shift receivable

- Others 230 #0 #0 #0

Margin deposit with Clearing Corporation of India Limited 195 68 12 12

Other current assets #0 #0 0 #0

Amount due from AMC 428 244 18 91


27,199 48,884 14,905 10,971




April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

July 30, 2013

April 01, 2012to

March 31, 2013

8. INTEREST

Deposits 3 1 #0 #0

Collateralised lending 9,392 6,457 295 1,337 Money market instruments 7,567 269 - 52

16,962 6,727 295 1,389


9. MANAGEMENT AND TRUSTEESHIP FEEThe Scheme pays fees for investment management services (excluding service tax) under an agreement with the AMC, which provides for computation of such fee as a percentage of the Scheme’s average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme and net asset value of investment made in other schemes, if any.


Mirae AssetLiquid Fund

April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

July 30, 2013

April 01, 2012to

March 31, 2013


The Scheme has paid for Trusteeship services at the rate of 0.03 per cent for the period from April 2013 to March 2014 of the Scheme’s average daily net assets, subject to a minimum of Rs.5 lakhs per annum for all schemes. The Trustee company has waived off the Trusteeship fees from 6th, January 2014 to 31st, March 2014 for all the schemes of Mirae Asset Mutual Fund.(Previous year: At the rate of 0.03 of the Scheme’s average daily net assets, subject to a minimum of Rs.5 lakhs per annum for all schemes).


89



10. INCOME AND EXPENDITURE

The total income and expenditure and these amounts as a percentage of the Scheme’s average daily net assets are provided below:Mirae Asset Cash Management Fund


April 01, 2013to

March 31, 2014

April 01, 2012to

March 31, 2013

April 01, 2013to

July 30, 2013

April 01, 2012to

March 31, 2013

Income

- amount 16,966 6,727 295 1,389


Expenditure (excluding provision for net unrealised loss in value of investments, realised loss on sale of investments, realised loss on inter-scheme transfer/sale of investments)

- amount 411 308 13 75


11. TRANSACTIONS COVERED BY REGULATION 25(8) OF THE SEBI REGULATION WITH THE SPONSOR OR ASSOCIATE OF THE SPONSOR DURING THE CURRENT YEAR IS NIL (PREVIOUS YEAR NIL).

12. NET ASSET VALUE

OptionsMirae Asset

Cash Management FundMirae Asset Liquid Fund

31 March ,2014 31 March ,2013 30 July, 2013 31 March ,2013

Regular - Growth 1,360.7768 1,254.8409 1,227.3900 1199.6750

Regular - Daily Dividend 1,053.3973 1,047.9559 1,168.6935 1142.3028

Regular - Weekly Dividend 1,139.1950 1,132.6579 1,171.5763 1145.1206

Regular - Monthly Dividend 1,139.5707 1,132.8447 1,039.5721 1037.5370

Direct Plan - Direct Daily Dividend 1,062.2784 1,054.7521 0.0000 NA

Direct Plan - Direct Growth 1,363.0838 1,255.0074 1,061.7509 1037.5968

Direct Plan - Direct Monthly Dividend NA 1,151.7213 0.0000 NA

Direct Plan - Direct Weekly Dividend 1,185.5775 1,151.8688 0.0000 NA

Institutional Growth NA NA 1,061.4382 1037.4794

Institutional Monthly NA NA 1,052.4259 1028.1062

Institutional Weekly Dividend NA NA 1, 045.8511 1020.6245

The net asset value of the Scheme’s unit is determined separately for units issued under the options after including the respective unit capital and reserves and surplus.The net asset value disclosed above represents the computed NAV as on March 31, 2014, and not the last declared NAV.

13. Mirae Asset Liquid Fund has been merged with Mirae Asset Cash Management Fund on the going concern basis with effect from 31 July,2014The said merger were approved by the trustees and no objections were received from SEBI. As mentioned in the respective application for the merger, exit option was provided to the unitholders. The details of net asset value, no. of units outstanding on the effective date of merger and exchange ratio for the units are given below :

Transferor scheme No. of Units NAV per unit Exchange Ratio Transferee Scheme

Mirae Asset Liquid Fund 13,180.377 1,119.8467 0.912767 Mirae Asset Cash Management Fund

The accounting of the merger has been carried out on Pooling of Interest Method. Accordingly, the assets and liabilities of the transferor scheme of the merger have been transferred to the transferee scheme at book value. Further, the difference between the total face value of units allotted of the transferee scheme and total face value of units extinguished of the transferor scheme have been adjusted in unit premium reserve account.In view of merger as described above, current year’s figures to that extent are not comparable with the previous year figures in respect of Mirae Asset Cash Management Fund.


90



14. CONTINGENT LIABILITIES

At March 31 2014 - Nil (March 31 2013 - Nil).

15. PREVIOUS YEAR’S COMPARATIVES

Figures for the previous years have been regrouped / reclassified, wherever necessary to confirm to current years presentations.














91

MIRAE ASSET MUTUAL FUNDAnnexure I

Disclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996Investments made by the schemes of Mirae Asset Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme


Investments made by the Schemes of MIRAE Asset Mutual Fund in the

Company or its subsidiary

Aggregate cost of acquisition (Rupees

in '000)

Outstanding as on March 31,

2014 (Rupees in '000)







Mirae Asset India Opportunities Fund 36,809.61 -

Note: The above said investments were made to optimize return and high liquidity. The investments have been made purely on fundamental consideration after carrying out proper due diligence & research.

MIRAE ASSET MUTUAL FUNDAnnexure II


Industry and Company Particulars quantity Amt. (Rupees in '000)



CERTIFICATE OF DEPOSIT

Banks 1,820,000 180,163 87.78 100.00

Corporation Bank ** 250,000 24,680 12.02 13.70

Indian Bank ** 570,000 56,439 27.50 31.33

Oriental Bank of Commerce ** 500,000 49,705 24.22 27.59

Union Bank of India ** 500,000 49,339 24.04 27.39

Grand Total 180,163 87.78

OTHER CURRENT ASSETS 27,199 13.25

TOTAL ASSETS 207,362 101.03

LESS: CURRENT LIABILITIES 2,121 1.03

NET ASSETS 205,242 100.00

** Non Traded SecurityNote : Industry classification has been done on the basis of industry information provided by AMFI


92

MIRAE ASSET MUTUAL FUNDBALANCE SHEET AS AT 31 MARCH, 2014

(All amounts in thousands of Rupees) Mirae Asset Ultra

Short Term Bond Fund Mirae Asset Short Term Bond Fund

Mirae Asset FMP Series I-368 Days

31 March, 2014 31 March, 2013 31 March, 2014 31 March, 2013 31 March, 2014

Schedule

SOURCES OF FUNDS

Unit capital 2(b) & 3 197,297 341,611 148,609 16,755 201,280

Reserves and surplus 2(b) & 4 25,558 16,151 29,644 2,052 2,838

Current liabilities 5 13,877 1,840 721 521 37

236,732 359,602 178,974 19,328 204,155


Investments 2(C) & 6 170,217 321,804 174,286 - 204,119

Other current assets 7 66,515 37,798 4,688 19,328 36

236,732 359,602 178,974 19,328 204,155




















Sd/-B.N.Chakraborty Director


Sd/-Gopal Agarwal Chief Investment Officer



93


(All amounts in thousands of Rupees) Mirae Asset Ultra

Short Term Bond Fund Mirae Asset Short Term Bond Fund

Mirae Asset FMP Series I-368 Days

1 April ,2013 to

31 March ,2014

1 April ,2012 to

31 March ,2013

1 April ,2013 to

31 March ,2014

1 April ,2012 to

31 March ,2013

21 February ,2014

to 31 March ,2014

Schedule

INCOME

Interest 2(d) & 8 15,793 17,407 6,916 3,296 2,064

Load income 24 40 59 18 -

Profit on sale/redemption of investments, net

1 - #0 - #0

Profit on inter-scheme transfer/sale of investments, net

#0 - #0 #0 -

Refund - Scheme Expenses 22 - - - -

Total 15,840 17,447 6,975 3,314 2,064

EXPENSES AND LOSSES

Management fee 9 148 144 9 42 -

Service tax on Management fees 18 18 1 5 -

Trusteeship fee 9 42 53 14 13 -

Custodian service charges 12 25 6 #0 9

Registrar service charges 192 259 84 57 15

Commission to distributors 773 572 879 113 7

Audit fee 46 56 47 56 6

CBLO charges 126 74 70 46 9

Investor protection fund expense 37 28 17 3 4

Other operating expenses 128 163 45 35 2

1,522 1,392 1,172 370 52

Less: Expenses reimbursed / to be reimbursed by AMC

(224) (402) (355) (46) (41)

Total 1,298 990 817 324 11

Surplus for the year/period 14,542 16,457 6,158 2,990 2,053

Equalisation (debit)/credit 2(e) 189,863 73,302 24,146 (2,423) -

Transfer from retained surplus 8,389 11,060 2,407 1,460 -

Income distribution on capital account

(6,455) (8,414) (1,868) (1,274) -

Tax on distributed income (1,934) (2,645) (539) (186) -

Surplus/(deficit)transferredtothe balance sheet

4 204,405 89,760 30,304 567 2,053

# Amount less than Rupees 0.5 thousand

The accompanying schedules are an integral part of this revenue account.

As per our report of even date.


94

MIRAE ASSET MUTUAL FUND SCHEDULES TO THE FINANCIAL STATEMENTS FOR

THE YEAR/PERIOD ENDED 31 MARCH, 2014

1 BACKGROUND

Mirae Asset Global Investments Company Limited is the sponsor of Mirae Asset Mutual Fund (‘the Fund’).In accordance with SEBI (Mutual Funds) Regulations, 1996 (‘the SEBI Regulations’), the Board of Directors of Mirae Asset Trustee Company Private Limited (‘the Trustee’) has appointed Mirae Asset Global Investments (India) Private Limited (‘the AMC’) to manage the Fund’s affairs and operate its schemes.During the year, MIRAE ASSET FMP SERIES I-368 DAYS has been launched and the details are given below :

Scheme Name Type of Scheme

Investment objective of the scheme NFO OpenNFO Close

Options


Open ended debt scheme

The investment objective of the Scheme is to generate returns with low volatility and higher liquidity through a portfolio of debt and money market instruments

February 29, 2008

toMarch 03,

2008

Direct Plan - Quarterly option Direct GrowthDirect Monthly DividendDirect Weekly Dividend Institutional Growth option Institutional - Dividend Plan (Quarterly)Institutional Weekly DividendInstitutional Monthly DividendRegular Daily DividendRegular GrowthRegular Weekly DividendRegular Monthly

Mirae Asset Short Term Bond Fund

Open ended debt scheme

The investment objective of the scheme is to seek to generate returns through an actively managed diversified portfolio of debt and money market instruments

June 23, 2009

toJuly 22,

2009

Direct GrowthDirect Monthly DividendDirect Quarterly DividendDirect Weekly DividendRegular GrowthRegular Weekly DividendRegular Monthly DividendRegular Quarterly Dividend

MIRAE ASSET FMP SERIES I-368 DAYS

Close ended debt scheme

The investment objective of the Plans under the Scheme is to generate income through investments in Debt and Money Market Instruments maturing on or before the maturity date of the respective plan(s)

February 13, 2014

toFebruary 22,

2014

Direct GrowthDirect DividendRegular Growth

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are

‘marked-to-market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Board of Directors of the AMC and the Trustee, are stated below.

(a) Determination of net asset value - The net asset value of the units of the Scheme is determined separately for the units issued under the options. - For reporting the net asset values within the portfolio, the Scheme’s daily income earned, including realised profit or loss and unrealised gain

or loss in the value of investments, and expenses accrued, are allocated to the related options in proportion to their respective daily net assets arrived at by multiplying day end outstanding units to previous day’s closing net asset value.

(b) Unit capital - Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period ended on

that date. - Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of

each option, after an appropriate portion of the issue proceeds and redemption payouts is credited / debited to the equalisation account, a mandatory requirement for open ended mutual fund schemes.

(c) Investments Accounting for investment transactions - Purchase and sale of investments are recorded on the date of the transaction, at cost and sale price respectively, after considering brokerage,

commission, CCIL charges and fees payable or receivable, if any. Valuation of investments - All investments are valued based on the principles of fair valuation and have been valued in good faith in a true and fair manner - Investments in fixed income & money market securities (other than central government securities) are valued as follows: TRADED (qUOTED) Till 31 December 2013 ,all quoted debt investments other than thinly traded, are considered at prices derived from the weighted average yield


95

maturity of the traded securities as at the valuation date as obtained from a public platform (FIMMDA / NSE WDM / BSE WDM) using traded volume thresholds or based on yield to maturity derived from trades done by schemes managed by MAAMC (Own Trades). From 1 January 2014 ,the valuation is on the basis of average of prices ( Scrip level prices ) released by CRISIL and ICRA .

Quoted debt & money market instruments (other than Government Securities) which are not traded on any stock exchange on the valuation day are considered as non-traded securities.

NON TRADED - INVESTMENT GRADE All non-government debt securities and money market (not covered under TRADED security) up to 60 days to maturity, are valued on the basis

of amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Rating Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.

Till 31 December 2013, other non-government debt & money market securities of investment grade (not covered under TRADED security) beyond 60 days to maturity, are valued by taking the aggregated average yields released by CRISIL and ICRA, as suggested by Association of Mutual Funds of India (AMFI), applying fair valuation principles Laid down by SEBI. From ,1 January 2014 , the valuation is on the basis of average of prices ( Scrip level prices ) released by CRISIL and ICRA .

- NON INVESTMENT GRADE All non-investment grade / non performing debt securities are valued based on the provisioning norms laid down by SEBI. - The net unrealized appreciation / depreciation in the value of investment is determined separately for each category of investments. The

unrealized loss, if any, between two balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is adjusted in unrealized appreciation reserve.

(d) Revenue recognition - Interest income is recognised on an accrual basis. - Profit or loss on sale/redemption of investments is determined on the basis of the weighted average cost method. (e) Equalisation account - When units are issued or redeemed, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at


The balance in equalisation account is transferred to revenue account at the year-end without affecting the net income of the Scheme. (f) Load The exit load charged, if any, would be credited to the scheme. (g) Cash and cash equivalent Cash and cash equivalent includes balance with banks in current accounts, deposits placed with scheduled banks (with an original maturity of

upto three months) and collateralised lending (including reverse purchase transactions)


96


THE YEAR/PERIOD ENDED 31 MARCH, 2014Mirae Asset Ultra Short Term Bond Fund**

31 March, 2014 31 March, 2013

quantity Amount


(Rs. in 000's)

3. Unit Capital

Growth Option

Regular quarterly Dividend OptionOutstanding, beginning of year - - - -

Issued

- new fund offer - - - -

- during the year/period - - - -

Redeemed during the year/period - - - -

Outstanding, end of period - - - -

Regular Plan - Growth option


Issued


- during the year/period - 13,705.570 13,706

Redeemed during the year/period (1,181.018) (1,181) (21,474.410) (21,475)


Regular Plan - Dividend option


Issued


- during the year/period - 264.723 265



Regular Plan - Weekly Dividend option


Issued


- during the year/period - 624.060 624


Outstanding, end of year/period 296.981 297 1,745.676 1,744

Regular Plan - Monthly Dividend option

Outstanding, beginning of year/period 771.238 771 2,248.832 2,249

Issued


- during the year/period - 1,080.723 1,081

Redeemed during the year/period (556.949) (557) (2,558.317) (2,558)


Institutional Plan - Growth option

Outstanding, beginning of year/period 54,277.235 54,277 -

Issued


- during the year/period 237,012.668 237,013 81,607 81,607


Outstanding, end of year/period 117,214.646 117,215 54,277.235 54,277.000


97


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Ultra Short Term Bond Fund**

31 March, 2014 31 March, 2013

quantity Amount (Rs. in 000’s)


Institutional Plan - quarterly Dividend option


Issued

- new fund offer - - - 0

- during the year/period 7,279.528 7,280 491,874.181 491874



Institutional Plan - Weekly Dividend option

Outstanding, beginning of year/period 802.401 802 -

Issued

- during the year/period 35,192.871 35,193 3,042.213 3042



Institutional Plan - Monthly Dividend option

Outstanding, beginning of year/period 5,438.643 5,439 -

Issued 0

- new fund offer - - - 0

Issued during the year/period 19,522.390 19,522 8,025.013 8,025



Institutional Plan - Daily Dividend option

Outstanding, beginning of year/period - - - -

Issued


Issued during the year/period 80,295.634 80,296 - -

Redeemed during the year/period (66,979.351) (66,979) - -

Outstanding, end of year/period 13,316.283 13,317 - -



Issued


-during the year/period 50,780.367 50,780 1,315.963 1,316

Redeemed during the year/period (40,641.005) (40,641) (31.303) (31)



Outstanding, beginning of year/period - - - -

Issued


- during the year/period 4,343.045 4,343 - -


Outstanding, end of year/period 152.117 152 - -


98



Issued


- during the year/period 338.271 338 9.829 10

Redeemed during the year/period (259.881) (260) - -




Issued during the year/period 130.754 131

Redeemed during the year/period - - - -


Direct Plan - quarterly Dividend option


Issued


Issued during the year/period 13,684.076 13,684 239,337.160 239,337



Total


Issued


- during the year/period 448,448.850 448,449 841,017.258 8,41,017

Redeemed during the year/period (592,762.466) (592,763) (526,271.291) (5,26,271)



Name of the Scheme 31st March 2014 31st March 2013


Mirae Asset Ultra Short Term Bond Fund 0 0.00% 2 56.82%


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Ultra Short Term Bond Fund**

31 March, 2014 31 March, 2013




99


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Short Term Bond Fund**

31 March, 2014 31 March, 2013



3. Unit Capital

Growth Option

Regular quarterly Dividend Option

Outstanding, beginning of year 4,925.566 49 3,993.096 40

Issued


- during the year/period 1,412,562.243 14,126 76,677.792 766

Redeemed during the year/period (12,209.597) (122) (75,745.322) (757)

Outstanding, end of period 1,405,278.212 14,053 4,925.566 49


Outstanding, beginning of year/period 895,806.276 8,959 1,946,253.263 19,463

Issued


- during the year/period 8,528,217.701 85,282 3,213,657.552 32,137

Redeemed during the year/period (2,816,878.815) (28,169) (4,264,104.539) (42,641)

Outstanding, end of year/period 6,607,145.162 66,072 895,806.276 8,959

Regular Plan - Weekly Dividend option


Issued


- during the year/period 586,577.711 5,866 2,222,252.977 22,223

Redeemed during the year/period (736,089.735) (7,361) (3,830,743.783) (38,307)


Regular Plan - Monthly Dividend option


Issued


- during the year/period 4,918,593.033 49,186 229,152.558 2,292

Redeemed during the year/period (65,643.412) (657) (1,147,067.750) (11,471)

Outstanding, end of year/period 4,981,539.737 49,816 1,28,590.116 1,287


Outstanding, beginning of year/period 1,267.169 13 - -

Issued


- during the year/period 1,716,467.251 17,165 2,101.782 21

Redeemed during the year/period (347,351.616) (3,474) (834.613) (8)

Outstanding, end of year/period 1,370,382.804 13,704 1,267.169 13



Issued


- during the year/period 4,435.660 45 985.018 10

Redeemed during the year/period (2,851.048) (29) (492.509) (5)

Outstanding, end of year/period 2,077.121 21 492.509 5


100



Issued during the year/period 9,173.072 92 492.199 5

Redeemed during the year/period (9,665.271) (97) - -

Outstanding, end of year/period - - 492.199 5

Direct Plan - quarterly Dividend option


Issued


Issued during the year/period - 430.141 4

Redeemed during the year/period - - -


Total

Outstanding, beginning of year/period 1,675,491.782 16,755 5,248,730.279 52,487

Issued


- during the year/period 17,176,026.671 171,761 5,745,750.019 57,458

Redeemed during the year/period (3,990,689.494) (39,907) (9,318,988.516) (93,190)

Outstanding, end of year/period 14,860,828.959 148,609 1,675,491.782 16,755




Mirae Asset Short Term Bond Fund 0 0.00% 0 0.00%


THE YEAR/PERIOD ENDED 31 MARCH 2014 Mirae Asset Short Term Bond Fund**

31 March, 2014 31 March, 2013




101


THE YEAR/PERIOD ENDED 31 MARCH 2014Mirae Asset FMP Series I-368 Days**

31 March, 2014

quantity Amount

(Rs. in 000's)

3. Unit Capital

Growth Option


Outstanding, beginning of year/period -

Issued

- new fund offer 1,804,570.000 18,046

- during the year/period - -

Redeemed during the year/period - -

Outstanding, end of year/period 1,804,570.000 18,046


Outstanding, beginning of year/period - -

Issued

- new fund offer 18,271,880.000 1,82,719



Outstanding, end of year/period 18,271,880.000 1,82,719



Issued

- new fund offer 51,500.000 515



Outstanding, end of year/period 51,500.000 515


Total


Issued

-new fund offer 20,127,950.000 201,280

-during the year/period - -


Outstanding, end of year/period 20,127,950.000 201,280




Mirae Asset FMP Series I -368 Days 0 0.00% 0 0.00%


102


THE YEAR/PERIOD ENDED 31 MARCH 2014(All amounts in thousands of Rupees)



Mirae Asset FMP Series - I-368 Days

31 March, 2014

31 March, 2013

31 March, 2014

31 March, 2013

31 March, 2014

4. RESERVES AND SURPLUS


Balance, beginning of year (79,522) (13,314) (22) (143)

Transfer to retained surplus (6,299)

Net premium on issue / redemption of units 3,165 7,094 23,541 (2,302) -

Transferred to/(from) equalisation account (189,863) (73,302) (24,146) 2,423

Balance, end of year/period (272,519) (79,522) (627) (22) -


Balance, beginning of year/period 102 - - - -

Unrealised appreciation in value of investments 88 102 300 - 785

Balance, end of year/period 190 102 300 - 785

Retained surplus

Balance, beginning of year/period 95,571 16,871 2,074 2,967 -

Transfer from Unit premium Reserve 6,299 - - - -

Transfer to revenue account (8,389) (11,060) (2,407) (1,460) -

Surplus transferred from revenue account 204,405 89,760 30,304 567 2,053

Balance, end of year/period 297,886 95,571 29,971 2,074 2,053

Total reserves and surplus 25,558 16,151 29,644 2,052 2,838


Regular - Weekly 89 356 125 - -

Regular - Quarterly Dividend Option - - 3,559 - -

Quarterly Dividend option - - - 9

Regular Plan - Growth option 654 782 20,446 1,908 248

Regular Plan - Daily Dividend option 1,286 1,119 - -

Regular Plan - Weekly Dividend option - - - 108 -

Regular Plan - Monthly Dividend option 65 159 1,154 23 -

Institutional Plan - Growth option 17,687 3,537 - - -

Institutional Plan - Daily Dividend option 140 - - - -

Institutional Plan - Weekly Dividend option 2,767 30 - - -

Institutional Plan - Monthly Dividend option 456 192 - - -

Institutional Plan - Quarterly Dividend option 398 539 - - -

Direct Plan - Growth option 1,818 85 4,356 3 2,583

Direct Plan - Daily Dividend option 8 - - - 7

Direct Plan - Weekly Dividend option 11 #0 3 #0 -

Direct Plan - Monthly Dividend option 17 5 - #0 -

Direct Plan - Quarterly Dividend option 162 9,347 1 1 -

Total 25,558 16,151 29,644 2,052 2,838



103





Mirae Asset FMP Series - I -

368 Days 31 March,

201431 March,

201331 March,

201431 March,

201331 March,

2014


Amount due to AMC for management fee - 54 - 2 -

Sundry creditors for units redeemed by investors 1,862 153 28 62 -

- Lateral Shift Payable - - - - -

- Others - - - - -

Dividend tax payable 25 - 83 2 -

Units pending allotment 7,188 1,300 - - -

Commission payable to distributors 215 65 92 24 #0

Registrar fee payable - - - - -

Custodian Fees Payable 2 4 2 - 9

Load Pending Utilisation - - - 22 -

Other current liabilities 4,585 264 516 409 28

13,877 1,840 721 521 37





368 Days 31 March,

201431 March,

201331 March,

201431 March,

201331 March,

20146. INVESTMENTS

Certificates of deposit 157,043 321,804 151,986 - 157,998

Commercial paper - - - - 46,077

Mutual Fund Units 13,174 - 22,300 - 44

170,217 321,804 174,286 - 204,119

(i) All the investments are held in the name of the Scheme, as per clause 7 of Seventh Schedule under Regulations 44(1) of SEBI (Mutual Funds) Regulations, 1996.

(ii) The aggregate value of investments acquired and sold/redeemed during the year and these amounts as a percentage of average daily net assets are as follows:




368 Days1 April ,2013to 31 March

,2014

1 April ,2012to 31 March

,2013


,2014


,2013

21 February ,2014

to 31 March ,2014

Purchases (excluding collateralised lending and fixed deposits) - amount 895,350 893,157 362,223 8,552 201,415

- as a percentage of average daily net assets 486.08% 435.43% 441.86% 20.42% 99.46%

Sales / Redemptions (excluding collateralised lending and fixed deposits) - amount 1,056,401 584,600 191,821 8,564 11


(iii) The details of investments by a company in excess of 5% of the net assets of a scheme and investment made by the scheme or by any other scheme for the current year in that company and the market value as at 31st March 2014 as per the disclosure requirement under Regulation 25(11) or the SEBI Regulations are disclosed in Annexure I to the financial statements

(iv) Outstanding investments in the Sponsor company and its Group companies as at 31 March 2014 is Nil (Previous Year: Nil).


104


Balances with banks in current accounts 8,184 1,308 291 100 2


- Lateral shift receivable - - - - -

- Others 1,603 125 89 17 -

Margin deposit with Clearing Corporation of India Limited

199 337 127 22 -

Outstanding and accrued income #0 #0 - - -

Amount due from AMC 154 433 138 45 34

Collateralised lending 55,072 35,273 4,043 19,144 -

Other current assets 1,303 322 - - -

66,515 37,798 4,688 19,328 36





368 Days 1 April ,2013to 31 March

,2014


,2013


,2014


,2013

21 February ,2014

to 31 March ,2014

8. INTEREST

Money market instruments 9,375 13,144 3,584 12 1,930

Deposits 3 2 1 1 -

Collateralised lending 6,415 4,261 3,331 3,283 134

15,793 17,407 6,916 3,296 2,064

9. MANAGEMENT AND TRUSTEESHIP FEE

The Scheme pays fees for investment management services (excluding service tax) under an agreement with the AMC, which provides for computation of such fee as a percentage of the Scheme’s average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme and net asset value of investment made in other schemes, if any.




368 Days April 01,

2013to March 31,

2014

April 01, 2012

to March 31, 2013

April 01, 2013

to March 31, 2014

April 01, 2012

to March 31, 2013

February 21, 2014

to March 31, 2014

Management fee at annualised average rate 0.08% 0.07% 0.01% 0.10% 0.00%






368 Days 31 March,

201431 March,

201331 March,

201431 March,

201331 March,

2014


105

The Scheme has paid for Trusteeship services at the rate of 0.03 per cent for the period from April 2013 to March 2014 of the Scheme's average daily net assets, subject to a minimum of Rs.5 lakhs per annum for all schemes. The Trustee company has waived off the Trusteeship fees from 6th, January 2014 to 31st, March 2014 for all the schemes of Mirae Asset Mutual Fund.(Previous year: At the rate of 0.03 of the Scheme's average daily net assets, subject to a minimum of Rs.5 lakhs per annum for all schemes).

10. INCOME AND EXPENDITURE

The total income and expenditure and these amounts as a percentage of the scheme’s average daily net assets on an annualised basis are provided below:




368 DaysApril 01,

2013to March 31,

2014

April 01, 2012

to March 31, 2013

April 01, 2013

to March 31, 2014

April 01, 2012

to March 31, 2013

February 21, 2014

to March 31, 2014


- amount 15,840 17,447 6,975 3,314 2,064


Expenditure (excluding provision for net unrealised loss in value of investments, realised loss on sale of investments, realised loss on inter-scheme transfer/sale of investments) - amount 1,298 989 817 324 11


11. TRANSACTIONS COVERED BY REGULATION 25 (8) OF THE SEBI REGULATION WITH THE SPONSOR OR ASSOCIATE OF THE SPONSOR

Particulars Mirae Asset Ultra Short Term Bond Fund



368 Days31 March,

201431 March,

201331 March,

201431 March,

201331 March, 2014


Satco Capital Markets Limited - - - - 3.30






368 Days31 March,

201431 March,

201331 March,

201431 March,

201331 March,

2014


106



12.NET ASSET VALUE

Options Mirae Asset Ultra Short Term Bond Fund


Mirae Asset FMP Series - I - 368 Days

31 March, 2014

31 March, 2013

31 March, 2014

31 March, 2013

31 March, 2014

31 March, 2013

Regular Plan - Growth option 1364.2837 1262.8396 13.0946 12.1302 10.1371 NA

Regular Plan - Daily Dividend option 1300.4027 1203.6852 NA NA NA NA

Regular Plan - Weekly Dividend option 1300.3522 1203.6390 10.2525 10.1679 NA NA

Regular Plan - Monthly Dividend option 1303.5376 1206.5955 10.2317 10.1771 NA NA

Regular Plan - Quarterly Dividend option NA NA 12.5329 11.8357 NA NA

Institutional Plan - Growth option 1150.7583 1065.1709 NA NA NA NA

Institutional Plan - Daily Dividend option 1010.5409 NA NA NA NA NA

Institutional Plan - Daily Dividend option (Quarterly) 1039.5098 1018.3795 NA NA NA NA

Institutional Plan - Weekly Dividend option 1093.8589 1037.2339 NA NA NA NA

Institutional Plan - Monthly Dividend option 1072.8219 1035.2371 NA NA NA NA

Direct Plan - Growth option 1158.9676 1066.3846 13.1787 12.1381 10.1413 NA

Direct Plan - Dividend Option 1049.8165 NA NA NA 10.1413 NA

Direct Plan - Weekly Dividend option 1128.5004 1038.4464 11.2326 10.3441 NA NA

Direct Plan - Monthly Dividend option 1126.2957 1036.3528 NA 10.3510 NA NA

Direct Plan - Quarterly Dividend option 1062.0489 1039.0538 12.8599 11.8443 NA NA

The net asset value of the Scheme’s unit is determined separately for units issued under the options after including the respective unit capital and reserves and surplus.The net asset value disclosed above represents the computed NAV as on March 31, 2014, and not the last declared NAV.

13.CONTINGENT LIABILITIES

At 31 March ,2014 - Nil (31 March ,2013 - Nil).

14. PREVIOUS YEAR'S COMPARATIVES

Figures for the previous years have been regrouped / reclassified, wherever necessary to confirm to current years presentations.









Sd/-B.N.Chakraborty Director


Sd/-Gopal Agarwal Chief Investment Officer



107


Annexure I

Disclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996

Investments made by the schemes of Mirae Asset Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme


Investments made by the Schemes of MIRAE Asset

Mutual Fund in the Company or its subsidiary

Aggregate cost of acquisition

(Rupees in '000)

Outstanding as on March 31,

2014 (Rupees in '000)




6,613.05 -




37,530.91 -


36,809.61 -

Note:

The above said investments were made to optimize return and high liquidity. The investments have been made purely on fundamental consideration after carrying out proper due diligence & research.

MIRAE ASSET MUTUAL FUND - MIRAE ASSET ULTRA SHORT TERM BOND FUND

Annexure II

SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRYWISE CLASSIFICATION

Details of investment portfolio and industrywise classification of the Scheme’s investments in each category of investments at 31 March 2014 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets as at 31 March 2014, as well as the aggregate investments in each investment category.





Banks 1,600,000 157,043 70.47 100.00


Indian Bank ** 510,000 49,919 22.40 31.79


State Bank of Patiala ** 250,000 24,052 10.79 15.32

Mutual Fund Units 1,300,000 13,174 5.91 100.00

Mirae Asset Fixed Maturity Plan Series - I - 368 Day Direct Growth 1,300,000 13,174 5.91 100.00




LESS: CURRENT LIABILITIES 13,877 6.23

NET ASSETS 222,855 100.00

** Non Traded Security

Note : Industry classification has been done on the basis of industry information provided by AMFI


108

MIRAE ASSET MUTUAL FUND - MIRAE ASSET SHORT TERM BOND FUND

Annexure II







Banks 1,620,000 151,986 85.26 100.00

Axis Bank Ltd. ** 40,000 3,695 2.07 2.43


Indian Bank ** 420,000 38,548 21.63 25.36


State Bank of Patiala ** 250,000 24,052 13.49 15.83

Mutual Fund Units 2,200,440 22,300 12.51 100.00

Mirae Asset Fixed Maturity Plan Series - I - 368 Day Direct Growth 2,200,440 22,300 12.51 100.00




LESS: CURRENT LIABILITIES 721 0.40

NET ASSETS 178,253 100.00




109

MIRAE ASSET MUTUAL FUND - MIRAE ASSET FMP SERIES I-368 DAYS

Annexure II







Banks 1,710,000 157,998 77.41 100.00

Axis Bank Ltd. ** 610,000 56,354 27.61 35.67

Indusind Bank Ltd. ** 600,000 55,398 27.14 35.06


COMMERCIAL PAPER

Miscellaneous 500,000 46,077 22.57 100.00

Tata Capital Ltd. ** 500,000 46,077 22.57 100.00

Mutual Fund Units 32 44 0.02 100.00

Mirae Asset Cash Management Fund - DIRECT GROWTH

32 44 0.02 100.00

Grand Total 204,119 100.00

OTHER CURRENT ASSETS 36 0.02


LESS: CURRENT LIABILITIES 37 0.02

NET ASSETS 204,118 100.00



Documents

Annual Report 2013 - 14 - Home - Mirae Asset Report...Karvy Computershare Private Limited Karvy Plaza; H. No.8-2-596, Avenue 4, Street No.1, Banjara Hills, Hyderabad - 500 034. Trustee: