IDFC Factsheet Complete - IDFC Mutual Funds · PDF fileHCL Infosystem Ltd. 637.03 2.18 Cox and Kings India Limited 318.59 1.09 Grand Total 29273.29 100.00 Auto Total 1802.15 6.16 Auto

December 2009

1

Equity Commentary

It was another positive month for equities. Markets across the world closed with gains between 6%-7% for the month. The Indian markets closed up 6.5% (this despite the fact that Dubai World, the investment arm of the government asked for a reschedule of its debt of $ 59 billion). Liquidity remains benign across the globe and such corrections are being used as opportunities to enter the markets.

FIIs invested USD 1.023 Bn in Indian equities (cash) in the month of November and the total YTD investment stands at USD 15.236 bn.

India GDP for Q2 FY10 came at 7.9%, well above the market consensus of around 6.5%. Services sector performance (9.3% growth) was the main reason for the outstanding performance. Industry numbers (8.3% Growth) were more or less expected after the good IIP numbers in the quarter, Agricultural output at 0.9% against expectations of a decline due to poor monsoons also added to the surprise element. The key feature for the Q2 GDP has been drawdown of inventories. With demand set to remain robust this sets the base for higher capacity utilization across sectors going forward thus further driving industrial growth in H2FY10.

The implementation of the recommendations of the BK Chaturvedi Committee to spur bidding interest in highway projects will lead to sustained news flow on project awards over the next 12-15 months. NHAI has targeted to award 122 road projects for length of 11, 947km of worth Rs1.066tn which should drive construction order flows, credit growth and spur demand for materials and equipment.

Rising Inflation, Strong IIP and GDP numbers provide comfort and confidence in the domestic economic recovery and earnings upgrade theory which will we believe will be the key in sustaining the risk appetite in the markets. Given the positive outlook on the domestic markets we re- iterate that such corrections should be used as opportunities to enter the markets

We maintain that we will not add significant risk to our portfolios and incrementally be watchful of cutting down Beta.

Net Equity Investments by FII & MFs (US $ Million for the month)

FII MF SensexSource -SEBI

Debt Commentary

The market will have to take a call on “by how much” rather than “when” the RBI (Reserve Bank of India) will raise policy rates. RBI had signaled a shift in their monetary stance from one of pro growth to one of price stability in the second quarter review of the annual monetary policy of 2009-10 held on the 27th of October 2009. The incremental data after the policy review has strengthened the need for withdrawal of monetary stimulus. India’s GDP growth for the period July-September 2009 came in at 7.9%. The higher than expected growth number will see professional forecasters revising full year 2009-10 GDP growth estimates upwards. The inflation numbers are also showing a higher trend. RBI’s forecast of 6.5% for the WPI (Wholesale Price Index) is most likely to be exceeded given the current trend in primary articles and commodity prices. Primary article price inflation is trending at double digit levels while commodity prices are at one year highs. The improving demand situation in the economy coupled with supply shortages is raising inflation expectations. The market will now start moving on the pace of rate hikes rather than the timing of rate hikes.

The other factors that the market will have to contend with in the coming months are the state of government finances and asset price movements globally. The Government as of end November has completed over 80% of its full year 2009-10 borrowing. The government is facing a slower than expected growth in taxes while the budgeted 3G auction has not been held. The government is looking to raise Rs 35,000 crores in the 3G auction. The government is also selling stakes in its entities to raise further sums of money. The 3G auction and the stake sales have to go through if the government has to stick to its scheduled borrowing program. Global asset prices have been volatile with the US Dollar weakening across the board and commodity prices linked to the US Dollar have been seeing sharp rises. Continued commodity price increases and uneven movements in global currency rates can create potential imbalances which central banks including RBI will have to address.

Ten year benchmark government bond yields are likely to move in a 50bps range from levels of 7.25%. The case for bond yields trending down are lower than expected government borrowing, market expectations of a slower pace of rate hikes, comfortable liquidity and higher than expected demand for government bonds by the banking system. The case for rates trending higher are higher than expected government borrowing, higher than expected inflation numbers and market expectations of a faster pace of rate hikes.

Liquidity continued to remain comfortable in the system with banks lending around Rs 100,000 crores to the RBI at 3.25% which is the reverse repo rate, on a daily basis. Liquidity is likely to remain comfortable this month leaving overnight rates at close to reverse repo rate of 3.25%.

Market Indicators

Security 30th November Month on

2009 2009 Month

Change Basis

Points (bps).

Yield % Yield %

Policy Rates

Reverse Repo Rate 3.25 3.25 0

Repo Rate 4.75 4.75 0

Cash Reserve Ratio (CRR) 5.00 5.00 0

Liquidty

Average Reverse Repo Rs Crores 103000 106000 -3000

Average Repo Rs crores 0 0 0

Average Call Rate % 3.25 3.25 0

Governemnt Securities

91 Day T-Bill 3.27 3.23 4

364 Day T-Bill 4.45 4.50 -5

Five Year Benchmark 6.92 7.12 -20

Ten Year Benchmark 7.22 7.30 -8

Currency

USD/INR Rs 46.70 47.20 1%

Inflation (% Change Month

Year on Year) Ended

31st Oct 2009

WPI 1.34

Corporate Bonds

5 Year AAA Benchmark 8.00 8.45 -45

3 Month CD Benchmark 3.50 3.50 0

1 Year CD Benchmark 5.25 5.75 -50

Interest Rate Swaps

1 Year OIS* 4.53 4.78 -25

5 Year OIS* 6.43 6.80 -37

31st October

Yield Curve

Source : CCIL, Bloomberg

30th November 2009

31st October 2009

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

1 5 10 30

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IDFC Classic Equity Fund(IDFC - CEF)An open-ended equity fund Data as of 30 November 2009

Portfolio as of 30 November 2009

Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Bajaj Auto Limited 1296.01 4.43Maruti Suzuki India Ltd. 506.14 1.73

Amara Raja Batteries Limited 350.25 1.20

Canara Bank 1378.36 4.71Bank of Baroda 1147.15 3.92ICICI Bank Ltd. 963.31 3.29Axis Bank Limited 609.63 2.08Federal Bank Ltd. 507.92 1.74ING Vysya Bank Ltd. 341.17 1.17

Grasim Industries Ltd. 440.46 1.50UltraTech Cement Ltd. 294.35 1.01

ITC Ltd 1118.39 3.82United Spirits Ltd. 1071.50 3.66Balrampur Chini Mills Ltd. 769.57 2.63Asian Paints Ltd. 722.27 2.47

Jindal Steel & Power Ltd. 350.18 1.20

Housing Development Finance Cor Ltd 805.12 2.75LIC Housing Finance Ltd. 696.80 2.38

Gujarat State Petronet Ltd 298.20 1.02

Bharat Heavy Electricals Ltd. 1221.77 4.17Crompton Greaves Ltd. 881.37 3.01

Jagran Prakashan Ltd 432.43 1.48

Sterlite Industries Ltd. 780.23 2.67

United Phosphorus Ltd. 491.36 1.68

Reliance Industries Ltd. 1537.82 5.25Hindustan Petroleum Corporation Ltd. 1234.06 4.22Bharat Petroleum Corporation Ltd. 1083.82 3.70

Piramal Healthcare Limited 567.63 1.94Dishman Pharmaceuticals & Chemicals Ltd. 434.91 1.49Opto Circuits Ltd. 413.55 1.41

NTPC Ltd. 860.18 2.94Tata Power Co. Ltd. 493.07 1.68GVK Power & Infrastructure Ltd 437.74 1.50

Pantaloon Retail (India) Ltd. 677.62 2.31

Tata Consultancy Services Ltd. 688.40 2.35Educomp Solutions Ltd. 472.32 1.61

HCL Infosystem Ltd. 637.03 2.18

Cox and Kings India Limited 318.59 1.09

Grand Total 29273.29 100.00

Auto Total 1802.15 6.16

Auto Ancillaries Total 350.25 1.20

Banks Total 4947.55 16.90

Cement Total 734.81 2.51

Consumer Non Durables Total 3681.72 12.58

Ferrous Metals Total 350.18 1.20

Finance Total 1501.93 5.13

Gas Total 298.20 1.02

Industrial Capital Goods Total 2103.14 7.18

Media & Entertainment Total 432.43 1.48

Non-Ferrous Metals Total 780.23 2.67

Pesticides Total 491.36 1.68

Petroleum Products Total 3855.70 13.17

Pharmaceuticals Total 1416.09 4.84

Power Total 1790.99 6.12

Retailing Total 677.62 2.31

Software Total 1160.72 3.97

Telecom - Equipment & Accessories Total 637.03 2.18

Transportation Total 318.59 1.09Others Total 273.16 0.93Call / Reverse Repo/ CBLO Total 760.06 2.60Net Current Asset 909.39 3.11

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 292.13 CroreFund Manager : Tridib PathakInvestment objective : The investment objective of the scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments.However there is no assurance that the investment objective of the scheme will be realized.Investment style : The Scheme seeks to achieve out performance through sector rotation, theme selection, market cap bias and bottom up stock picking.Ideal investment horizon : 3 years or moreEntry load : (Plan A & Plan B) : Nil (w.e.f. August 01, 2009)Exit load: (Plan A & Plan B): All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options of the Scheme. (w.e.f. September 01, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option.Minimum investment amount ( Plan A & Plan B): Rs. 5,000 & in multiples of Re. 1 Additional investment amount : Re.1SIP (minimum amount) ( Plan A & Plan B): Rs. 1000 Inception Date: 9 August 2005Statistical Measures : Beta 0.86R Square 0.95Standard deviation 8.90%Last 3 dividends (Rs./ unit) :22 August 2006 1.50 NAV 11.558028 May 2007 1.50 NAV 13.265922 Oct 2007 1.50 NAV 15.2703NAV (Rs.):Growth (A) 19.0200 (B) 15.1220Dividend (A) 13.7628 (B) 12.2039Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 94.30% / 2.60% / 3.11%Fund manager’s commentRun as a well-diversified portfolio, the opportunity for the fund is to capture the breadth of the market across sectors, market capitalizations, styles and themes. The fund has continued to reduce exposure to midcaps, reduce Beta of the portfolio and increase diversification by investing in more stocks.

Past performance may or may not be sustained in future.Benchmark : BSE 200

Data as of 30 November 2009under the IDFC-CEF-Growth as of 200930 November

IDFC-CEF - Growth BSE200

CAGR - Compounded Annualised Growth Rate

3 Month

(Absolute)6 Month

(Absolute)Last 1 Year

CAGR

Last 2 YearsCAGR

Last 3 YearsCAGR

Since InceptionCAGR

6.28%

16.40%

70.25%

-12.24%

7.30%

16.08%9.07%

18.77%

97.46%

-7.37%

8.56%

19.19%

16.90%

13.17%12.58%

7.18%6.16%6.12%

5.77%5.13%

3.97%

2.67%2.51%2.31%2.18%1.68%1.48%1.20%1.20%1.09%1.02%

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IDFC Imperial Equity Fund(IDFC - IEF)An open-ended equity fund Data as of 30 November 2009

Marketvalue in % of

Name Lac (Rs.) NAV

Maruti Suzuki India Ltd. 1406.29 3.31Bajaj Auto Limited 1377.28 3.24

ICICI Bank Ltd. 2615.14 6.15Bank of Baroda 1397.87 3.29Axis Bank Limited 1379.17 3.24State Bank of India 910.38 2.14Canara Bank 902.65 2.12HDFC Bank Ltd. 724.16 1.70

Ambuja Cements Ltd 669.54 1.57

Larsen & Toubro Ltd. 521.52 1.23

ITC Ltd 2313.90 5.44United Spirits Ltd. 1549.32 3.64

Housing Development Finance Cor Ltd 1978.23 4.65

GAIL (India) Ltd. 1082.21 2.55

Bharat Heavy Electricals Ltd. 1795.00 4.22


Oil & Natural Gas Corporation Ltd. 2333.51 5.49

Indian Oil Corporation Ltd. 2978.18 7.00Reliance Industries Ltd. 2650.67 6.23

Cipla Ltd. 1216.00 2.86Biocon Limited 1092.63 2.57Glaxosmithkline Pharmaceuticals Ltd. 665.64 1.57

Tata Power Co. Ltd. 1299.90 3.06NTPC Ltd. 1153.90 2.71

Tata Consultancy Services Ltd. 1252.89 2.95Wipro Ltd. 1188.90 2.80Infosys Technologies Ltd. 1130.19 2.66Oracle Financial Serv Software Ltd 563.15 1.32

Grand Total 42521.45 100.00

Auto Total 2783.57 6.55



Construction Project Total 521.52 1.23



GAS Total 1082.21 2.55


Non - Ferrous Metals Total 977.44 2.30

Oil Total 2333.51 5.49




Software Total 4135.13 9.72Call / Reverse Repo/ CBLO Total 2570.18 6.04Net Current Asset 825.61 1.94

Long Future Total 295.94 0.70

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 414.67 CroreFund Manager : Kenneth Andrade Investment objective : The investment objective of the Scheme is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or gurantee that the objectives of the scheme will be realized. Investment style : The Scheme seeks to invest predominantly in companies based on the potential value unlocking (subsidiary listing), strong growth in domestic demand and emerging sectors in the Indian economy. Ideal investment horizon : 3 years or moreEntry load : (Plan A & Plan B) : Nil (w.e.f. August 01, 2009)Exit load: (Plan A & Plan B) : All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options of the Scheme. (w.e.f. September 01, 2009). In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option.Minimum investment amount (Plan A & Plan B): Rs. 5,000 Additional investment amount : Re.1SIP (minimum amount) (Plan A & Plan B): Rs. 1,000 Inception Date: 16 March 2006Statistical measures : Beta 0.90R Square 0.94Standard deviation 8.93%Last dividends (Rs./ unit) :8 June 2009 1.20 NAV 12.4523 Plan A15 June 2009 1.20 NAV 12.0942 Plan B14 May 2008 1.50 NAV 13.9431NAV (Rs.):Growth (A) 17.2905 (B) 14.9011Dividend (A) 14.2942 (B) 13.7538Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash / Derivative Option) : 92.01% / 6.04% / 1.94% / NilFund manager’s commentImperial fund is a diversified large cap biased fund. The portfolio construction has revolved around selecting well established companies which have high capital efficiency or are moving towards improving their capital efficiency further and are available at reasonable valuations.

Past performance may or may not be sustained in future.Benchmark : S&P CNX Nifty

under the IDFC-IEF-Growth as of 200930 November

Portfolio as of 200930 November

Asset AllocationData as of 30 November 2009

IDFC-IEF - Growth S&P CNX Nifty


Rating & Rankings

Value Research RatingICRA Rating

3 Month (Absolute)

6 Month (Absolute)

Since Inception CAGR

Last 3 Years CAGR

Last 1 Year CAGR

Morningstar Rating

Last 2 Years CAGR

6.41%13.81%

73.26%

0.27%

13.28% 15.89%7.95%

13.12%

82.07%

-6.54%

8.36%12.72%

18.65%

13.24%

9.72%9.09%

6.99%6.55%5.77%5.49%

4.65%4.22%

2.55%2.30%1.57%1.23%

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Past performance is no guarantee of future results.For Methodology of Ranking Please refer Page No. 32.

IDFC Premier Equity Fund(IDFC - PEF)An open-ended equity fund Data as of 30 November 2009

4

Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Motherson Sumi Systems Ltd. 4237.95 3.66Exide Industries Ltd. 3208.11 2.77

Shree Cement Ltd. 4979.69 4.30

Shree Renuka Sugars Ltd 6068.25 5.24GlaxoSmithkline Consumer Healthcare Ltd. 4480.62 3.87Asian Paints Ltd. 3275.42 2.83Bata India Ltd. 2557.09 2.21Kaveri Seed Company Limited 2335.68 2.02Karuturi Global Limited 2318.19 2.00United Spirits Ltd. 2271.49 1.96Emami Limited 2071.74 1.79Lakshmi Energy And Foods Ltd 1947.60 1.68Gokul Refoils And Solvent Limited 1742.40 1.50Raj Oil Mills Limited 1718.66 1.48Globus Spirits Ltd 1605.70 1.39KS Oil Limited 1210.89 1.05

Coromandel International Ltd. 4113.76 3.55

Shriram Transport Finance Co Ltd. 7230.10 6.24SREI Infrastructure Finance Ltd. 2298.00 1.98

Petronet LNG Ltd 2037.00 1.76Deep Industries Limited 1730.58 1.49

Pipavav Shipyard Limited 2772.50 2.39

Biocon Limited 3198.28 2.76

PTC India Limited 3252.00 2.81Torrent Power Limited 2915.42 2.52


Educomp Solutions Ltd. 1517.50 1.31

Page Industries Limited 3605.52 3.11

IRB Infrastructure Developers Ltd 6208.75 5.36Spicejet Limited 3676.37 3.17Blue Dart Express Ltd. 2398.88 2.07

Grand Total 115867.16 100.00




Fertilisers Total 4113.76 3.55


Gas Total 3767.58 3.25

Miscellaneous Total 2772.50 2.39





Textile Products Total 3605.52 3.11

Transportation Total 12284.01 10.60Others Total 2822.96 2.44Call / Reverse Repo/ CBLO Total 13650.94 11.78Net Current Asset 993.99 0.86

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 1152.65 CroreFund Manager : Kenneth AndradeInvestment objective : The Scheme shall seek to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment style : Focus on buying great companies at low valuation with a longer term perspective. The scheme portfolio would seek to acquire, inter alia, small and medium size business with good long term potential, which are available at cheap valuation. Such securities would be identified through disciplined fundamental research keeping in view medium to long term trends in the business environment. The Scheme shall endeavor to accumulate long term investor wealth by opening subscriptions to units during periods when stocks are available at reasonable valuations. By doing so, the Fund managers would endeavor to prevent short term money from flowing into the fund which can prove detrimental to the interest of long term investors.Ideal investment horizon : 3 years or moreEntry load : (Plan A & Plan B) :Nil (w.e.f. August 01, 2009)Exit load: (Plan A & Plan B): All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options of the Scheme. (w.e.f. September 01, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option.Minimum investment amount (Plan A & Plan B): Rs. 25,000Additional investment amount : Re.1SIP (minimum amount) (Plan A & Plan B): Rs. 2000Inception Date: 28 September 2005Statistical measures : Beta 0.90R Square 0.87Standard deviation 9.95%Last dividends (Rs./ unit) : 28 April 2009 1.50 NAV 13.1031NAV (Rs.):Growth (A) 24.7792 (B) 18.2728Dividend (A) 22.2371 (B) 18.3966Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 87.36% / 11.78% / 0.86%Fund manager’s comment :The portfolio has attempted to identify emerging themes & segment leaders which have a strong correlation to the growth of the economy. The fund is invested close to 90% with the balance in cash. The investment process & the diversification have not undergone any radical shift. The focus remains on buying into emerging business & taking a call on the entrepreneur /organization to ride through successfully the growth curve of the business cycle.


Data as of 30 November 2009

under the IDFC-PEF-Growth as of 200930 November


IDFC-PEF - Growth BSE500


3 Month

(Absolute)

6 Month

(Absolute)

Last 1 Year CAGR

Last 2 Years

CAGR

Last 3 Years

CAGR

Since Inception

CAGR

Rating & Rankings

Value Research RatingICRA Rating


Morningstar Rating

9.78%

31.15%

110.36%

2.70%

24.92% 24.28%

8.94%

19.29%

99.06%

7.99%16.15%

-8.49%

29.00%

11.34%

8.22%6.43%

5.32%4.67%4.30%3.55%3.25%3.21%3.11%2.76%1.31%0.89%

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MarketValue in % of Value of

Name Lac (Rs.) NAV Futures

Reliance Mediaworks Ltd. 322.59 0.61 -326.30Allahabad Bank 460.83 0.87 -462.90Dish TV India Limited 89.62 0.17 -90.19Ashok Leyland Ltd. 154.54 0.29 -154.54Bajaj Hindustan Ltd. 1150.85 2.17 -1153.50Balrampur Chini Mills Ltd. 1098.71 2.07 -1098.29Bajaj Auto Limited 65.96 0.12 -66.11Mphasis Limited 1868.52 3.52 -1876.25Bombay Rayon Fashions Ltd. 504.97 0.95 -507.66Reliance Infrastructure Limited 482.79 0.91 -483.78Bharti Airtel Ltd. 161.76 0.30 -161.73Century Textiles & Industries Ltd. 1008.54 1.90 -1011.79Chambal Fertilisers & Chemicals Ltd. 45.50 0.09 -45.75Kingfisher Airlines Ltd 185.19 0.35 -185.90DLF Limited 334.72 0.63 -334.68Essar Oil Ltd 684.89 1.29 -687.50Reliance Natural Resources Ltd 730.32 1.38 -733.55GTL Ltd 997.78 1.88 -1004.02Grasim Industries Ltd. 804.54 1.52 -807.09Gujarat State Petronet Ltd 6.06 0.01 -6.08GVK Power & Infrastructure Ltd 256.28 0.48 -257.54Hindustan Construction Co. Ltd. 666.77 1.26 -667.97Housing Development & Infrastr Ltd 609.59 1.15 -608.66Hindustan Petroleum Corporation Ltd. 620.05 1.17 -621.81Tata Teleservices (Mah) Limited 424.33 0.80 -426.81India Cements Ltd. 1277.33 2.41 -1281.91ICSA India Ltd 576.14 1.08 -578.97IFCI Limited 1794.93 3.38 -1801.73Oracle Financial Serv Software Ltd 468.93 0.88 -468.73Indian Hotels Co. Ltd. 583.64 1.10 -584.32India Infoline Ltd. 946.74 1.78 -945.67Indian Overseas Bank 72.05 0.14 -72.02Indiabulls Real Estate Limited 655.34 1.23 -655.97Jaiprakash Associates Ltd. 524.45 0.99 -525.26Jaiprakash Hydro Power Limited 113.55 0.21 -114.11KS Oil Limited 182.42 0.34 -183.72Larsen & Toubro Ltd. 161.46 0.30 -161.66LIC Housing Finance Ltd. 332.70 0.63 -333.30Mahanagar Telephone Nigam Ltd. 118.00 0.22 -118.48Mangalore Refinery & Petrochemicals Ltd. 356.83 0.67 -357.51Moser Baer India Limited 482.24 0.91 -483.78Nagarjuna Fertilizers & Chemicals Ltd. 66.94 0.13 -67.27Ispat Industries Ltd 227.93 0.43 -229.08Noida Toll Bridge Co. ltd. 180.48 0.34 -181.50NTPC Ltd. 582.98 1.10 -585.48Orchid Chemicals & Pharmaceuticals Ltd. 760.78 1.43 -763.94Pantaloon Retail (India) Ltd. 346.83 0.65 -348.52Power Finance Corporation Limited 355.63 0.67 -356.76Petronet LNG Ltd 519.84 0.98 -522.14Polaris Software Lab 4.74 0.01 -4.73Praj Industries Limited 646.04 1.22 -647.86Punjab National Bank 2146.24 4.04 -2152.66Punj Lloyd Ltd. 664.99 1.25 -666.83Ranbaxy Laboratories Ltd. 517.85 0.98 -518.75Rolta India Ltd. 192.44 0.36 -192.95Steel Authority of India Ltd. 585.54 1.10 -587.61Jindal Saw Ltd. 2442.61 4.60 -2452.61United Phosphorus Ltd. 173.54 0.33 -174.30Shree Renuka Sugars Ltd 224.75 0.42 -225.05Tata Consultancy Services Ltd. 172.10 0.32 -172.21Television Eighteen India Ltd. 140.98 0.27 -141.71Triveni Engeering And Industries Ltd. 395.20 0.74 -394.43Vijaya Bank 356.04 0.67 -357.42Welspun Guj Stahl Rohren Ltd 1793.44 3.38 -1795.05Yes Bank Ltd. 55.56 0.10 -55.77

Grand Total 53101.29 100.00

Total 35935.93 67.67 -36042.13Money Market Instruments Total 2894.13 5.45Call / Reverse Repo/ CBLO Total 590.05 1.11Bank Deposit Total 10500.00 19.77Net Current Asset 3181.19 5.99

IDFC Arbitrage Fund(IDFC - AF)An open-ended equity fund

Fund features Portfolio as of 0930 November 20


5

Fund performance

Past performance may or may not be sustained in future.Benchmark : Crisil Liquid Fund Index

under the IDFC-AF-Growth as of 0930 November 20

Nature : Equity & Equity DerivativesAverage AUM : Rs. 537.36 CroreFund Manager : Ashwin Patni & Arjun ParthasarathyInvestment objective : The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments and by investing the balance in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. Investment style : The Scheme seeks to capture the “Cost of Carry” by executing simultaneous buy (in the cash market) and sell (In the futures) trades. The amount not so invested is invested in FDs and money market instruments.Ideal investment horizon : 1 year or moreEntry load : Nil Exit load: 0.25% in both Plan A and Plan B, if redemption / switch is requested within 30 days from the date of purchase, during ongoing period. (w.e.f. August 24, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Plans available: Plan A (Regular), Plan B (Institutional)Options available: Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Plan A: Rs. 5,000, Plan B: Rs. 25,00,000 (w.e.f. July 6, 2009)Additional investment amount : Re.1SIP (minimum amount) : NAInception Date: 21 December 2006Statistical Measures : Standard deviation 0.32%Dividend frequency: Monthly, subject to availability of distributable surplusLast 8 dividends (Rs./ unit) :06-Jan-09 B 0.0600 NAV 10.508910-Feb-09 A 0.0600 NAV 10.365910-Feb-09 B 0.0600 NAV 10.488112-Mar-09 A 0.0600 NAV 10.330012-Mar-09 B 0.0600 NAV 10.456816-Apr-09 A 0.0600 NAV 10.313716-Apr-09 B 0.0600 NAV 10.446019-May-09 A 0.0600 NAV 10.256319-May-09 B 0.0600 NAV 10.393415-June-09 A 0.0500 NAV 10.248115-June-09 B 0.0500 NAV 10.389613-July-09 A 0.0400 NAV 10.262613-July-09 B 0.0400 NAV 10.408926-Aug-09 B 0.0200 NAV 10.419012-Nov-09 A 0.0600 NAV 10.321412-Nov-09 B 0.0600 NAV 10.4668NAV (Rs.):Plan A (Regular) Growth 12.1323Plan A (Regular) Dividend 10.3366Plan B (Institutional) Growth 12.3126Plan B (Institutional) Dividend 10.4848Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 67.67% / 26.33% / 5.99%Fund manager’s comment:Cash-future spreads were weak for a second month compared to earlier months on the back of equity correction around the F&O expiry window. The fund was able to successfully roll-over its futures positions into November.

IDFC-AF-Growth Crisil Liquid Fund Index


3 Month (Absolute) 6 Month (Absolute) Last 1 Year CAGR Last 2 Years CAGR Since Inception CAGR

0.97%

2.07%

4.25%

5.69%

6.78%

0.67%

1.36%

5.55%

6.84% 7.06%

6

IDFC Enterprise Equity Fund(IDFC - EEF)An Open Ended Equity Scheme. Data as of 30 November 2009

Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Reliance Industries Ltd. 7248.43 9.60Infosys Technologies Ltd. 4391.83 5.82Larsen & Toubro Ltd. 3727.69 4.94ICICI Bank Ltd. 3724.24 4.93Housing Development Finance Cor Ltd 2685.46 3.56ITC Ltd 2551.38 3.38HDFC Bank Ltd. 2348.41 3.11State Bank Of India 2224.55 2.95Oil & Natural Gas Corporation Ltd. 1559.97 2.07Bharti Airtel Ltd. 1416.37 1.88Bharat Heavy Electricals Ltd. 1366.69 1.81Tata Steel Ltd. 1363.51 1.81Tata Consultancy Services Ltd. 1333.51 1.77Sterlite Industries Ltd. 1332.70 1.77Hindustan Unilever Ltd. 1150.03 1.52Jindal Steel & Power Ltd. 1022.77 1.35Axis Bank Limited 944.90 1.25Tata Power Co. Ltd. 853.53 1.13Mahindra & Mahindra Ltd. 803.29 1.06Maruti Suzuki India Ltd. 794.20 1.05Cox And Kings India Limited 739.57 0.98Gail (India) Ltd. 724.99 0.96Wipro Ltd. 722.45 0.96NTPC Ltd. 700.24 0.93Tata Motors Ltd. 689.74 0.91Jaiprakash Associates Ltd. 654.52 0.87Grasim Industries Ltd. 629.50 0.83Cipla Ltd. 612.85 0.81Infrastructure Development Finance Company Ltd. 600.99 0.80Hero Honda Motors Ltd. 598.20 0.79Hindalco Industries Ltd. 578.49 0.77Reliance Infrastructure Limited 566.27 0.75DLF Limited 491.17 0.65Punjab National Bank 463.34 0.61Cairn India Limited 461.57 0.61Reliance Communications Ltd 448.28 0.59Steel Authority Of India Ltd. 445.13 0.59Sun Pharmaceutical Industries Ltd. 420.60 0.56Unitech Ltd. 410.07 0.54Reliance Capital Ltd. 366.67 0.49ACC Ltd 310.48 0.41Idea Cellular Limited 310.25 0.41Siemens Ltd. 307.00 0.41Bharat Petroleum Corporation Ltd. 293.93 0.39Ambuja Cements Limited 290.37 0.38ABB Ltd 289.92 0.38HCL Technologies Ltd. 274.66 0.36Ranbaxy Laboratories Ltd. 266.54 0.35Suzlon Energy Ltd. 225.14 0.30Power Grid Corporation Ltd. 220.80 0.29Reliance Power Limited 200.81 0.27

Grand Total 75497.46 100.00

Nifty Stock Total 57158.01 75.71Corporate Debentures Total 2000.00 2.65Call / Reverse Repo/ CBLO Total 15851.30 21.00Net Current Asset 488.14 0.65

Long Future Total - Nifty 17971.83 23.81Short Future Total - Nifty -15.58 -0.02

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 758.26 CroreFund Manager : Kenneth Andrade.Investment objective : The investment objective of the scheme is to seek to generate capital growth from a portfolio of predominantly equity and equity related instruments(Including Equity derivatives). The scheme may also invest in debt and money market instruments to generate reasonable income. However there is no assurance that the investment objective of the scheme will be realized.Investment Strategy (in brief): The term ‘Enterprise’ connotes activity, venture, project or an endeavour. The Scheme intends to invest in companies which are involved in or are in the process of setting up various business activites, ventures, projects or other commercial endeavours. The Scheme would invest in equities in the IPOs’ subsequent public offers or in the secondary market, other equity related instruments (including derivatives), benefit out of the cash and derivative markets arbitrage, opportunity and invest the residual sums in debt and money market instruments. For details please refer to the Offer document.The scheme will endeavour to generate capital appreciation through investing in equities by interalia adopting the mode of applying IPOs or subsequent public offering made by companies, if well-priced IPOs are not available the funds collected will be invested in other investment avenues such as index, cash futures arbitrage. Nifty spot futures arbitrage etc. as per the investment strategy of the scheme.Investment style : The Scheme endeavours to generate capital appreciation through investing in equities by inter alia adopting the mode of applying for IPOs or subsequent public offering made by companies. If well priced IPOs are not available the funds collected may be invested in the index, hence generating market return from the index and the alpha from the premium on listing of IPOs.Entry load : (Plan A & Plan B) : Nil (w.e.f. August 01, 2009)Exit load: (Plan A & Plan B) : All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options of the Scheme. (w.e.f. September 01, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Options available: Growth, DividendMinimum investment amount (Plan A & Plan B): Rs. 5,000 (w.e.f. July 6, 2009)Additional investment amount : Re.1SIP (minimum amount) (Plan A & Plan B): Rs. 1000 (w.e.f. July 6, 2009)Inception Date: 9 June 2006Statistical Measures : Beta (BSE 200) 0.84R Square (BSE 200) 0.89Beta (Nifty) 0.90Rsquare (Nifty) 0.92Standard deviation 4.31%Last 3 dividends (Rs./ unit) :28 July 2009 1.00 NAV 10.753014 May 2008 1.50 NAV 13.0106NAV (Rs.):Growth (A) 14.2527 (B) 11.7162Dividend (A) 11.6897 (B) 9.8351Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 75.72% / 23.65% /0.65%Fund manager’s comment : The fund is currently invested in the Nifty stocks. The fund aims to generate alpha by participating in primary market issuances. As a strategy, Enterprise follows a 100% invested philosophy. We have activated our participation in primary issuances which is of recent origin.

Past performance may or may not be sustained in future.Benchmark : S&P CNX Nifty

under the IDFC-EEF-Growth as of 200930 November Data as of 30 November 2009

IDFC-EEF - Growth S&P CNX Nifty



3 Month (Absolute)

6 Month (Absolute)

Last 1 Year CAGR

Since Inception CAGR

Last 3 Years CAGR

Last 2 Year CAGR

7.11%

15.47%

78.99%

-6.52%

7.06% 10.72%7.95%

17.70%

81.67%

-5.33%

8.59%

17.56%

12.86%

9.99%

8.91%

4.94%4.84%

3.82%3.75%3.38%3.37%

2.90%2.88%2.68%2.53%2.50%1.72%1.52%1.19%0.98%0.96%

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Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Hero Honda Motors Ltd. 258.81 3.47

Exide Industries Ltd. 189.61 2.54

Axis Bank Limited 349.79 4.69ICICI Bank Ltd. 347.14 4.65Union Bank Of India 296.82 3.98Allahabad Bank 233.45 3.13Canara Bank 217.75 2.92Federal Bank Ltd. 176.36 2.36Kotak Mahindra Bank Ltd. 118.07 1.58

Ambuja Cements Limited 184.70 2.47

Unitech Ltd. 158.60 2.12

Balrampur Chini Mills Ltd. 263.10 3.52Emami Limited 240.90 3.23

Hindustan Unilever Ltd. 171.12 2.29

Jindal Steel & Power Ltd. 172.06 2.30

Allied Digital Services Limited 187.34 2.51

Bharat Heavy Electricals Ltd. 392.66 5.26Sterlite Technologies Ltd 123.78 1.66

Sun Tv Network Limited 166.38 2.23Jagran Prakashan Ltd 148.19 1.98



Reliance Industries Ltd. 531.75 7.12

Dishman Pharmaceuticals & Chemicals Ltd. 218.75 2.93Torrent Pharmaceuticals Limited 112.94 1.51

Reliance Infrastructure Limited 209.49 2.81

Hexaware Technologies Ltd. 297.28 3.98Tata Consultancy Services Ltd. 240.94 3.23Infosys Technologies Ltd. 237.94 3.19

Cox and Kings India Limited 79.65 1.07

Grand Total 7466.03 100.00

Auto Total 258.81 3.47




Construction Total 158.60 2.12


Diversified Total 171.12 2.29


Hardware Total 187.34 2.51




Oil Total 239.95 3.21





Transportation 79.65 1.07Others Total 201.44 2.70Net Current Asset 484.95 6.50

IDFC Tax Saver (ELSS) Fund(IDFC - TS[ELSS])A 10 year closed ended Equity Linked Saving Scheme

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 73.94 CroreFund Manager : Kenneth Andrade. w.e.f. 21 July, 2009Investment objective : The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments.There can be no assurance that the investment objective of the scheme will be realised.Investment style : The Scheme will invest in well- managed growth companies that are available at reasonable value. Companies would be identified through a systematic process of forecasting earnings based on a deep understanding of the industry growth potential and interaction with company management .

Exit load : Nil (w.e.f. 4th September, 2009)Options available: Growth, DividendMinimum investment amount : Rs. 500Additional investment amount : Re.500Inception Date: 15 March 2007Statistical Measures : Beta 0.81R Square 0.92Standard deviation 9.90%Dividends frequency : NANAV (Rs.):Growth 12.5237Dividend 12.5235Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 93.50% /- / 6.50%Fund manager’s commentThe focus is to invest in long term growth stocks at reasonable price. The portfolio is an diverse mix of companies across sectors and is agnostic to capitalization bias. Given the plethora of opportunities which is there in domestic economy, the fund seeks to invest in companies with strong track record of execution, high operating leverage and reasonable valuations.

Entry load : Nil


under the IDFC-TS(ELSS)-Growth as of 0930 November 20 Data as of 30 November 2009


IDFC-TS(ELSS) - Growth BSE200


3 Month (Absolute) 6 Month (Absolute) Last 1 Year CAGR Since Inception CAGR

Last 2 Year CAGR


7

23 .30 %

11 .39 %

7.12 %6.92 %6.75 %

4.44 %4.21 %4.01 %3.47 %3.21%2.87 %2.81 %2.54 %2.51 %2.47 %2.29 %2.12 %1.07 %

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24.43%

78.04%

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8.64%9.07%

18.77%

97.46%

-7.37%

13.40%



Dr. Reddys Laboratories Ltd. 465.13 1.07 -466.55Essar Oil Ltd 514.13 1.19 -516.09Reliance Natural Resources Ltd 900.16 2.08 -904.14GTL Ltd 1095.44 2.53 -1102.29Grasim Industries Ltd. 649.50 1.50 -651.56GVK Power & Infrastructure Ltd 357.83 0.82 -359.58HDFC Bank Ltd. 300.26 0.69 -300.11Housing Development & Infrastr Ltd 435.78 1.00 -435.11Tata Teleservices (Mah) Limited 397.48 0.92 -399.80India Cements Ltd. 760.89 1.75 -763.62ICSA India Ltd 238.27 0.55 -239.44IFCI Limited 1390.97 3.21 -1396.23Oracle Financial Serv Software Ltd 411.12 0.95 -410.94India Infoline Ltd. 547.59 1.26 -546.97Indian Bank 504.26 1.16 -505.64Indiabulls Real Estate Limited 21.49 0.05 -21.51Jaiprakash Hydro Power Limited 204.84 0.47 -205.85Jindal Steel & Power Ltd. 1083.58 2.50 -1086.10KS Oil Limited 141.47 0.33 -142.48Lanco Infratech Limited 24.53 0.06 -24.52Mangalore Refinery & Petrochemicals Ltd. 284.07 0.65 -284.62Moser Baer India Limited 151.06 0.35 -151.54Ispat Industries Ltd 401.36 0.93 -403.38Noida Toll Bridge Co. ltd. 72.78 0.17 -73.19Petronet LNG Ltd 352.54 0.81 -354.09Polaris Software Lab 260.72 0.60 -260.11Praj Industries Limited 433.94 1.00 -435.16PTC India Limited 425.42 0.98 -426.40Punjab National Bank 1422.70 3.28 -1426.95Punj Lloyd Ltd. 673.93 1.55 -675.80Ranbaxy Laboratories Ltd. 452.20 1.04 -453.00Reliance Industries Ltd. 12.76 0.03 -12.78Jindal Saw Ltd. 1922.51 4.43 -1930.38Sintex Industries Ltd. 10.43 0.02 -10.46Shree Renuka Sugars Ltd 275.32 0.63 -275.69Suzlon Energy Ltd. 704.47 1.62 -704.03Tata Tea Ltd. 694.39 1.60 -696.35Axis Bank Limited 22.49 0.05 -22.42Welspun Guj Stahl Rohren Ltd 2121.94 4.89 -2123.85Cipla Limited Fv 2 Dec 09 Future 1828.00 4.21 -1836.28

Balaji Distilleries Limited 171.35 0.40Cox and Kings India Ltd 170.67 0.39Great Offshore Limited 280.24 0.65Zenotech Laboratories Limited 105.55 0.24Zee News Limited FV 1 140.49 0.32ACC Limited Dec 09 Future -24.02Ambuja Cements Ltd Fv 2 Dec 09 Future 22.76United Spirits Ltd Dec 09 Future -212.00December 2009 Future -22.63January 2010 Future 22.67NTPC Limited Dec 09 Future -47.93Power Grid Corporation Of India Ltd Dec 09 Future 48.17Zee Entertainment Enterprises Ltd Dec 09 Future -128.42

Great Offshore Limited 560 Call Dec 09 Option -6.54 -0.025300 Call December 2009 Option -9.91 -0.025400 Call December 2009 Option 3.21 0.014500 Put December 2009 Option -4.85 -0.014600 Put December 2009 Option -1.65 0.00

Grand Total 43377.09 100.00

Total 29,413.75 67.81 -29,501.13

Pair Trade 868.30 2.00 -341.41

Nifty Stock / Option -19.74 -0.05Final Total 30262.31 69.77 -29842.53Bank Deposit Total 8500.00 19.60Call / Reverse Repo/ CBLO Total 3480.29 8.02Net Current Asset 1134.49 2.62

IDFC Arbitrage Plus Fund(IDFC - APF)An open-ended equity fund

Fund features

Nature : Equity DerivativesAverage AUM : Rs. 447.44 CroreFund Manager : Ashwin Patni & Arjun ParthasarathyInvestment objective : The investment objective of the scheme is to generate income (absolute to low volatility returns) by taking advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies and by investing the balance in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment style : The fund aimed to generate absolute returns by investing in trades in the equity and derivative markets. The trades can consist of cash-futures arbitrage as well as relative value (such as pair trades and corporate event- based strategies) and derivatives strategies. Ideal investment horizon : 1 year or moreEntry load : NilExit load: IDFC- APF - Plan A & Plan B : 0.50% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days such from the date of effecting such purchase/switch in. (w.e.f. August 24, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Options available: Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Plan A : Rs.5,000, Plan B: Rs. 25,00,000 (w.e.f. July 6, 2009)Additional investment amount : Re.1Inception Date: 9 June 2008Statistical measures : Standard deviation 0.62%Last 3 dividends (Rs. / unit):12 Mar 2009 A 0.06 NAV 10.347612 Mar 2009 B 0.06 NAV 10.373516 Apr 2009 A 0.06 NAV 10.360016 Apr 2009 B 0.06 NAV 10.388612 Nov 2009 A 0.06 NAV 10.488412 Nov 2009 B 0.06 NAV 10.5329Dividend frequency : Monthly, subject to availability of distributable surplusNAV (Rs.):Growth (A) 10.9687 (B) 10.9842Dividend (A) 10.5045 (B) 10.5504Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash/Derivatives Option) : 69.81% / 27.57% / 2.62% / NAFund manager’s comment:Cash-future spreads were weak for a second month compared to earlier months on the back of equity correction around the F&O expiry window. The fund was able to successfully roll-over its futures positions related to arbitrage into November. The fund also had positions in options, open offers and pair trades.

Portfolio as of 09 Contd...30 November 20


8




Allahabad Bank 160.15 0.37 -160.87Dish TV India Limited 122.21 0.28 -122.98Bajaj Hindustan Ltd. 1336.47 3.08 -1339.55Balrampur Chini Mills Ltd. 299.93 0.69 -299.82Mphasis Limited 1538.14 3.55 -1544.51Biocon Limited 210.72 0.49 -211.73Bombay Rayon Fashions Ltd. 252.48 0.58 -253.83Reliance Infrastructure Limited 109.86 0.25 -110.08Idea Cellular Limited 78.41 0.18 -78.49Bharti Airtel Ltd. 345.98 0.80 -345.92Century Textiles & Industries Ltd. 1613.67 3.72 -1618.86Chambal Fertilisers & Chemicals Ltd. 151.66 0.35 -152.49Kingfisher Airlines Ltd 178.50 0.41 -179.18DLF Limited 47.82 0.11 -47.81

Contd...

Fund performance

Past performance may or may not be sustained in future.Benchmark : Crisil Liquid Fund Index

under the IDFC-APF-Growth as of 30 November 2009

IDFC-APF - Growth Crisil Liquid Fund Index

3 Month (Absolute) 6 Month (Absolute) Since Inception (CAGR)Last 1 Year (CAGR)

0.79%

2.12%

5.02%

6.46%

0.67%1.36%

5.55%

6.63%

IDFC Small & Midcap Equity (SME) Fund(IDFC - SMEF)An Open Ended Equity Scheme. Data as of 30 November 2009

9

Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Bajaj Auto Limited 785.23 2.15TVS Motor Company Ltd. 762.28 2.09

Amara Raja Batteries Limited 761.42 2.09Asahi India Glass limited 630.48 1.73

Indian Overseas Bank 1239.87 3.40Indian Bank 742.05 2.04

IVRCL Infrastructures & Projects Ltd. 742.70 2.04Anant Raj Ind Ltd. 621.16 1.70Phoenix Mills Limited 371.60 1.02

Videocon Industries Ltd. 615.62 1.69Bajaj Electricals Limited 450.09 1.24

United Spirits Ltd. 1897.13 5.21Nestle India Ltd. 1268.68 3.48Lakshmi Energy And Foods Ltd 1230.25 3.38Dhampur Sugar Mills Ltd. 962.87 2.64Colgate-Palmolive (India) Ltd. 825.00 2.26Dabur India Ltd. 707.44 1.94GlaxoSmithkline Consumer Healthcare Ltd. 687.83 1.89Balrampur Chini Mills Ltd. 526.20 1.44

Adhunik Metaliks Limited 481.01 1.32

Rural Electrification Corp Ltd 1579.93 4.34Shriram Transport Finance Co Ltd. 1063.25 2.92Power Finance Corporation Limited 690.66 1.90Mahindra & Mahindra Fin Ser Ltd. 589.60 1.62


AIA Engineering Ltd. 1137.45 3.12

Astral Poly Technik Limited 375.92 1.03

Aurobindo Pharma Ltd. 1595.97 4.38Dishman Pharmaceuticals & Chemicals Ltd. 889.55 2.44Glenmark Pharmaceuticals Ltd 693.00 1.90Opto Circuits Ltd. 550.90 1.51

CESC Ltd. 772.80 2.12

Oracle Financial Serv Software Ltd 1498.88 4.11Mphasis Limited 1049.35 2.88Patni Computers System Ltd. 851.37 2.34

Spicejet Limited 1502.28 4.12Mundra Port & Special Eco Zone Ltd 1023.27 2.81

Grand Total 36442.61 100.00

Auto Total 1547.51 4.25


Bank Total 1981.92 5.44


Consumer Durables Total 1065.71 2.92






Industrial Products Total 375.92 1.03




Transportation Total 2525.55 6.93Others Total 648.52 1.78Call / Reverse Repo/ CBLO Total 3610.66 9.91Net Current Asset -353.34 -0.97

Long Future Total 625.37 1.72

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 335.09 CroreFund Manager : Kenneth AndradeInvestment objective : The investment objective of the Scheme is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments.The Scheme will predominantly invest in small and midcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index. The Scheme may also invest in stock other than mid cap stocks (i.e. in stocks, which have a market capitalisation of above the market capitalisation range of the defined small midcap stocks) and derivatives. On defensive consideration, the Scheme may also invest in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme will predominantly invest in small and mid-cap equity and equity related instruments. Small and Mid-cap equity and equity related instruments will be the stocks included in the CNX Mid-Cap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Mid-Cap Index. The scheme would predominantly create a portfolio of emerging business and companies that are aspiring leaders in their respective field of operations. Some part of the portfolio would be in stocks/ companies that do not have a significant history of being listed. The guiding principles while managing the portfolio are summarized below:1) Sustainable company profits drives long term share value2) Acquire stocks at reasonable value3) Monitor market interest to ensure consistent performanceIdeal Investment Horizon: More than 3 yearsEntry Load: NilExit load: The scheme is converted into open ended scheme w.e.f. September 11, 2009. W.e.f. September 11, 2009 Exit Load - If redeemed within 365 days from the date of purchase(s) applying First in First out basis (including purchase made through the STP/SIP) -1.00%.No exit load /CDSC will be chargeable in case of switches made between different options of the schemes. In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund (w.e.f. October 12, 2009.)Options available: Growth, DividendMinimum investment amount : Rs. 5,000 SIP (minimum amount): Rs. 1000Additional investment amount : Re.1Inception Date: 7 March 2008Statistical Measures : Standard deviation 3.98%Last 3 dividends (Rs./ unit) :29 September 2009 1.10 NAV 12.3972Dividends frequency : NANAV (Rs.):Growth 14.4615Dividend 13.2935Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 91.06% / 9.91% / -0.97%Fund manager’s commentThe fund philosophy is to capture the potential of the small and mid - cap companies in the country. The underlying companies in the portfolio are growth oriented and at a second level the fund seeks to optimize valuations in this space. With markets buoyant the portfolio shifts have been reasonably aggressive in tune with the changing valuations. The strategy is expected to remain invested in smaller companies with low business risk and extreme valuation comfort.

Past performance may or may not be sustained in future.Benchmark : CNX Midcap

under the IDFC-SMEF-Growth as of 200930 November

IDFC-SMEF - Growth CNX Midcap


Portfolio as of 30 2009 November

3 Month (Absolute) 6 Month (Absolute) Since Inception (CAGR)Last 1 Year CAGR

13.81%

37.48%

115.12%

23.70%18.29%

37.38%

115.43%

5.63%

23.06%

10.77%10.28%9.33%

6.93%5.44%

4.76%4.25%3.82%3.12%2.92%2.12%

1.32%1.03%1.00%0.56%0.29%0.06%

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IDFC Strategic Sector (50-50) Equity FundIDFC-SS (50-50)-EFA Open Ended Equity Fund Data as of 30 November 2009

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Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Sector - Banking & Finance Total 1539.30 44.59

Financial Services Total 1057.11 30.62Bank Nifty Long Future Total 482.18 13.97Diversified Total 1564.84 45.33

Energy Total 728.73 21.11

Automobile Total 294.86 8.54

Information Technology Total 232.85 6.75

Consumer Goods Total 102.84 2.98

Industrial Manufacturing Total 94.24 2.73

Metals Total 79.31 2.30Others Total 32.00 0.93Call / Reverse Repo/ CBLO Total 440.04 12.75Net Current Asset 389.98 11.30

Punjab National Bank 144.53 4.19Axis Bank Limited 139.92 4.05ICICI Bank Ltd. 138.86 4.02State Bank Of India 134.37 3.89HDFC Bank Ltd. 88.31 2.56Bank Of Baroda 52.29 1.51Union Bank Of India 49.25 1.43Power Finance Corporation Limited 193.39 5.60Housing Development Finance Cor Ltd 116.20 3.37

Gail (India) Ltd. 188.39 5.46Oil & Natural Gas Corporation Ltd. 179.96 5.21Indian Oil Corporation Ltd. 140.26 4.06Bharat Petroleum Corporation Ltd. 118.02 3.42Reliance Industries Ltd. 102.10 2.96

Tata Motors Ltd. 114.06 3.30Mahindra & Mahindra Ltd. 102.94 2.98Maruti Suzuki India Ltd. 77.87 2.26

Tata Consultancy Services Ltd. 137.68 3.99Infosys Technologies Ltd. 95.17 2.76

ITC Ltd 102.84 2.98



Grand Total 3451.96 100.00

Fund features

Fund performance

Nature : EquityAverage AUM: Rs. 34.59 CroreFund Manager : Kenneth AndradeInvestment objective : The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity and Equity related instruments.The investment objective of the fund shall be achieved by investing up to fifty percent of the assets of the scheme in a chosen sector (sector specific exposure) while the balance amount may be invested in companies across market capitalizations and across sectors (diversified exposure). The scheme may also invest in debt and money market instruments.There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns.Ideal investment horizon : 3 years or moreEntry Load: (Plan A & Plan B) : Nil (w.e.f. August 01, 2009)Exit Load: (Plan A & Plan B) : All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Entry / Exit Loads / CDSC will be chargeable in case of switches made between different options of the Scheme. (w.e.f. September 01, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option.Minimum investment amount (Plan A & Plan B): Rs. 5,000 Additional investment amount : Re.1Inception Date: 3 October 2008Statistical Measures : Beta 0.84R Square 0.94Standard deviation 8.50%Dividend frequency : NANAV (Rs.):Growth (A)12.6873 (B) 13.9007Dividend (A)12.5533 (B) 13.9036Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 75.96% /12.75 / 11.30%Fund manager’s comment :The fund is built around allocating 50% of its invested portfolio to one sector. The Energy sector (as defined by the AMFI Classification) was 50% of the portfolio from April 2009 to November 2009. The portfolio has now moved this concentration back to Financials towards the end of October. Half way through 2010 financial year, the risk on the system looks far lower that what it started off in April 2009. The fear of large scale NPA's are now controllable and the sector is back to stability. The near term risks with the financial stocks are the valuations which look well priced. If growth returns to the economy then this risk gets mitigated. The Strategic Sector Fund is positioned to be a more aggressive fund with a concentration risk. The portfolio would be in stocks which are industry leaders.

Past performance may or may not be sustained in future.Benchmark : S & P CNX Nifty

under the IDFC Strategic Sector (50-50) Equity Fund-Growth as of 30 November 2009

IDFC Strategic Sector (50-50) Equity Fund Growth S & P CNX Nifty



3 Month (Absolute) Since Inception CAGR6 Month (Absolute) Last 1 Year CAGR

3.86%7.75%

65.10%

22.80%

7.95%13.12%

82.07%

26.91%

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30.62%

21.11%

8.54%6.75%

2.98%2.73%2.30%0.93%

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IDFC Tax Advantage (ELSS) FundIDFC TA (ELSS) FundAn open ended Equity Linked Saving Scheme with lock in period of 3 years. Data as of 30 November 2009

11

Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Hero Honda Motors Ltd. 25.88 2.26

Union Bank of India 55.37 4.83ICICI Bank Ltd. 47.73 4.16Federal Bank Ltd. 47.03 4.10Indian Overseas Bank 46.52 4.06Axis Bank Limited 44.97 3.92Allahabad Bank 33.35 2.91Canara Bank 31.67 2.76Kotak Mahindra Bank Ltd. 19.68 1.72

Ambuja Cements Limited 23.09 2.01

Unitech Ltd. 23.79 2.07

Balrampur Chini Mills Ltd. 32.89 2.87Emami Limited 24.09 2.10Simbhaoli Sugar Ltd 21.51 1.88

Hindustan UniLever Ltd. 22.82 1.99

Welspun Guj Stahl Rohren Ltd 19.42 1.69Tata Steel Ltd. 17.38 1.52


Bharat Heavy Electricals Ltd. 50.48 4.40Sterlite Technologies Ltd 30.95 2.70

Jagran Prakashan Ltd 23.71 2.07Sun TV Network Limited 16.64 1.45



Reliance Industries Ltd. 63.81 5.56

Torrent Pharmaceuticals Limited 28.23 2.46Dishman Pharmaceuticals & Chemicals Ltd. 21.88 1.91

Reliance Infrastructure Limited 26.19 2.28

Hexaware Technologies Ltd. 43.80 3.82Infosys Technologies Ltd. 35.69 3.11Tata Consultancy Services Ltd. 24.09 2.10

Grand Total 1146.72 100.00






Diversified Total 22.82 1.99






Oil Total 35.99 3.14




Software Total 103.58 9.03Others Total 10.24 0.89Net Current Asset 121.91 10.63

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 9.21 CroreFund Manager : Kenneth Andrade. w.e.f. 21 July, 2009 Investment objective : The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities.There can be no assurance that the investment objective of the scheme will be realised.Investment style : The Scheme will invest in well- managed growth companies that are available at reasonable value. Companies would be identified through a systematic process of forecasting earnings based on a deep understanding of the industry growth potential and interaction with company management .Entry load : Nil (w.e.f. August 01, 2009)Exit load : Nil (w.e.f. September 04, 2009)Options available: Growth, Dividend. Reinvestment facility is available under the Dividend Option.Minimum investment amount : Rs. 500Additional investment amount : Rs. 500SIP (minimum amount) : Rs. 500Inception Date: 26 December 2008Statistical Measures : Beta 0.81R Square 0.92Standard deviation 9.90%Dividends frequency : NANAV (Rs.):Growth 16.5668Dividend 16.5718Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) : 89.37% / NA / 10.63%Fund manager’s comment :The focus is to invest in long term growth stocks at reasonable price. The portfolio is an diverse mix of companies across sectors and is agnostic to capitalization bias. Given the plethora of opportunities which is there in domestic economy, the fund seeks to invest in companies with strong track record of execution, high operating leverage and reasonable valuations.


under the IDFC TA (ELSS) - Growth as of 200930 November Data as of 30 November 2009

Portfolio as of 30 2009 November

IDFC-TA(ELSS) - Growth BSE200

Since Inception absolute 3 Month (Absolute) 6 Month (Absolute)

11.26%17.76%

65.67%

9.07%

18.77%

88.69%28.46%

9.03%

7.10%6.84%5.56%

4.37%3.63%3.52%3.21%3.14%2.99%2.28%2.26%2.07%2.01%1.99%0.89%

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IDFC India GDP Growth Fund(IDFC - IGGF)An Open Ended Equity Scheme Data as of 30 November 2009

12

Asset Allocation

Marketvalue in % of

Name Lac (Rs.) NAV

Bajaj Auto Limited 166.47 3.51

Bank of Baroda 221.14 4.66ICICI Bank Ltd. 163.16 3.44Canara Bank 154.40 3.25Indian Bank 153.61 3.24ING Vysya Bank Ltd. 96.93 2.04Axis Bank Limited 84.85 1.79Indian Overseas Bank 81.41 1.71

UltraTech Cement Ltd. 83.67 1.76

Anant Raj Ind Ltd. 101.04 2.13

Balrampur Chini Mills Ltd. 191.54 4.03

LIC Housing Finance Ltd. 124.74 2.63

Gujarat State Petronet Ltd 121.77 2.56



Jagran Prakashan Ltd 184.77 3.89Sun TV Network Limited 50.25 1.06

Manappuram General Fin & Leasing Lt 64.50 1.36


United Phosphorus Ltd. 85.43 1.80

Hindustan Petroleum Corporation Ltd. 232.90 4.90Bharat Petroleum Corporation Ltd. 185.49 3.91Reliance Industries Ltd. 181.75 3.83Indian Oil Corporation Ltd. 130.31 2.74

Opto Circuits Ltd. 170.67 3.59Dishman Pharmaceuticals & Chemicals Ltd. 142.19 2.99Lupin Ltd. 115.53 2.43

GVK Power & Infrastructure Ltd 103.84 2.19Tata Power Co. Ltd. 99.29 2.09


Everonn Education Limited 137.26 2.89Educomp Solutions Ltd. 103.38 2.18

HCL Infosystem Ltd. 153.35 3.23

Grand Total 4748.34 100.00







Gas Total 121.77 2.56




Miscellaneous Total 64.50 1.36


Pesticides Total 85.43 1.80






Telecom - Equipment & Accessories Total 153.35 3.23Others Total 45.51 0.96Net Current Asset 153.83 3.24

Fund features

Fund performance

Nature : EquityAverage AUM : Rs. 47.68 CroreFund Manager : Tridib PathakInvestment objective : The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity and Equity related instruments. The scheme aims to capture the growth in India's Gross Domestic Product (GDP). The scheme would endeavour to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in debt and money market instruments.There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns.Investment style : The Scheme will invest in well- managed growth companies that are available at reasonable value. Companies would be identified through a systematic process of forecasting earnings based on a deep understanding of the industry growth potential and interaction with company management.Entry Load : Nil

Options available: Growth, Dividend. Reinvestment facility is also available under the dividend option.Minimum investment amount : Rs. 5000Additional investment amount : Re.1Inception Date: 11 March 2009Statistical Measures : Beta 0.41R Square 0.70Standard deviation 5.96%Dividends frequency : NANAV (Rs.):Growth 14.3163Dividend 14.3192Face value (Rs. / unit) : 10Asset allocation (equity / debt / cash) :96.76% / Nil / 3.24%

Exit load: All Investment including SIP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment - 1%. No Exit Loads / CDSC will be chargeable in case of switches made between different options of the Scheme. (w.e.f. September 01, 2009)In case of Switches, Exit load shall be NIL for all switch transactions between equity schemes of IDFC Mutual Fund . (w.e.f. October 12, 2009.)

Fund manager’s commentThe fund is benchmarked to the components of India's GDP in the proportion of the contribution of each component to GDP growth. The fund is invested mainly in the services sector, followed by industrials and then agriculture. Around 55% of the fund's portfolio is currently invested in midcap stocks.


under the IDFC-IGGF- Growth as of 200930 November Data as of 30 November 2009


IDFC-IGGF - Growth BSE500


3 Month (Absolute) Since Inception (Absolute)6 Month (Absolute)

6.23%

18.55%

43.16%

8.94%

19.29%

120.75%

20.12%

15.38%

9.02%

5.07%4.95%4.36%4.28%4.04%4.03%3.51%3.23%2.87%2.69%2.63%2.56%2.13%1.80%1.76%1.36%0.96%

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IDFC Super Saver Income Fund - Investment Plan(IDFC - SSIF-IP)An Open - Ended Income Fund

13



% of Name Rating NAV

CBLO 2.72

ACC Ltd AAA 11.36Power Grid Corporation Ltd. AAA 9.54Corporation Bank AAA 9.50Bharat Petroleum Corporation Ltd. AAA 9.41Rural Electrification Corp Ltd AAA 9.28

6.90% GOI 2019 MD 13-07-2019 SOV 16.378.24% GOI 2027 MD 15-02-2027 SOV 15.077.02% GOI 2016 MD 17-08-2016 SOV 9.23

Housing Development Finance Cor Ltd AAA 9.60

Grand Total 100.00

CBLO Total 2.72

Non Convertible Debentures Total 49.09

Govt Securities(GSE) Total 40.67

Zero Coupon Bonds Total 9.60Net Current Asset -2.08

Fund features

Nature : DebtAverage AUM : Rs. 272.34 CroreFund manager : Arjun ParthasarthyInvestment objective : Seek to generate stable returns by creating a portfolio that is invested in good quality fixed income and money market securities. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and aims to generate stable long-term returns through mix of accrual income and capital appreciation.Ideal investment horizon : 1 year or moreEntry load : NilExit load : IDFC-SSIF-IP - Plan A , Plan B & Plan C: 1.00% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days such from the date of effecting such purchase/switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009)Options available : Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 25 Lakh and in multiples of Re. 1 in Plan B (Institutional Plan)(w.e.f. July 6, 2009), Rs. 5 Crores and in multiples of Re. 1 in Plan C. (w.e.f. July 6, 2009)Additional investment amount : Re.1SIP (minimum amount) : in Plan A Rs. 1,000Inception date : 14 July 2000Statistical Measures : Standard deviation 1.65%Modified Duration 5.20 YearsDividend frequency : Quarterly, Half Yearly, AnnuallyLast 3 dividends :Date Nav Freq. Others I & HIDFC-SSIF-IP-Plan A30-Sep-08 10.2178 Quarterly 0.2038 0.21930-Mar-09 10.4462 Quarterly 0.3669 0.394230-Jun-09 10.4659 Quarterly 0.3669 0.394229-Sep-09 10.6641 Half Yearly 0.3636 0.390730-Mar-09 10.6717 Half Yearly 0.5462 0.586930-Mar-09 10.9413 Annual 0.7663 0.8234IDFC-SSIF-IP-Plan B30-Jun-09 10.2589 0.1223 0.1314IDFC-SSIF-IP-Plan C30-Jun-09 10.1243 0.0408 0.0438NAV (Rs.):Plan A Dividend Quarterly 10.5753Plan A Growth 22.1881Plan A Dividend Annual 11.5527Plan A Dividend Half Yearly 10.8157Plan B Growth 10.6670Plan B Dividend 10.3898Plan C Growth 10.2966Plan C Dividend 10.2454Face Value (Rs. / unit): 10Fund manager's comment:The fund increased duration at higher levels of yields and will manage duration in a ranged interest rate environment. The fund will actively monitor the dynamic interest rate and credit spread environment to optimize performance. Benchmark : Crisil Composite Bond Fund Index (CCBFI)

Asset Allocation

Fund performance IDFC-SSIF-IP Growth as of 30 November 2009


Past performance may or may not be sustained in future.

1 Non Convertible Debentures 49.09%

2 Zero Coupon Bonds 40.67%

3 CBLO 2.72%

4 Govt Securities(GSE) 9.60%

5 Net Current Asset -2.08%1

2

CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years

CAGR Last 5 Years

CAGR SinceAllotment

14/07/2000IDFC-SSIF-IP - Growth CCBFI


3

4

Rating & Rankings

ICRA Rating


5

10.77%9.72%

7.77%8.86%

8.09%

5.90%6.45%6.76%

9.77%


IDFC Dynamic Bond Fund(IDFC - DBF)An Open - Ended Income Fund

14



CBLO 85.16

HDFC Bank Ltd. AAA 7.08State Bank of India AAA 4.49Power Grid Corporation Ltd. AAA 2.13

Grand Total 100.00

CBLO Total 85.16

Non Convertible Debentures Total 13.70Net Current Asset 1.13

Fund features

Nature : DebtAverage AUM : Rs. 251.90 CroreFund manager : Arjun ParthasarthyInvestment objective : Seek to generate optimal returns with high liquidity by active management of the portfolio; by investing in high quality money market & debt instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and seeks to generate returns by actively managing the interest rate volatility.Ideal investment horizon : 1 year or moreEntry load : NilExit load : IDFC-DBF - Plan A & Plan B: Nil. (w.e.f. August 24, 2009)Options available : Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 25 Lakh and in multiples of Re. 1 in plan B (Institutional Plan). (w.e.f. July 6, 2009)Additional investment amount : Re.1SIP (minimum amount) : in Plan A Rs. 1,000Inception date : 25 June 2002Statistical Measures : Standard deviation 1.78%Modified Duration 0.73 YearsDividend frequency : Quarterly & AnnuallyLast 3 dividends :Date Nav Freq. Others I & HIDFC- DBF - Plan A31-Dec-08 12.0332 Quarterly 0.2853 0.306630-Mar-09 10.5857 Quarterly 0.4158 0.446730-Jun-09 10.5502 Quarterly 0.4158 0.446730-Mar-09 11.1462 Annual 0.8560 0.9197IDFC- DBF - Plan B6-Jul-09 10.2050 0.2853 0.3066NAV (Rs.):Plan A Growth 18.1874Plan A Dividend Annual 11.6886Plan A Dividend Quarterly 10.5891Plan B Growth 10.6289Plan B Dividend 10.2373Face Value (Rs. / unit): 10Fund manager's comment :The fund deployed cash at higher levels of yields and will actively manage cash in a ranged interest rate environment. The fund will move dynamically between cash, government bonds and corporate bonds to optimize performance. Benchmark : Crisil Composite Bond Fund Index (CCBFI)

Asset Allocation

Fund performance IDFC-DBF Growth as of 30 November 2009



1 CBLO 85.16%

2 Net Current Asset 1.13%


1

2

CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years

CAGR Last 5 Years

CAGR Since Allotment

25/06/2002IDFC-DBF - Growth CCBFI


Rating & Rankings

ICRA Rating


3

Morningstar Rating

12.11%10.72%

8.79%9.33%

8.37%9.77%

6.76% 6.45%5.90% 6.04%


IDFC Super Saver Income Fund - Medium Term(IDFC-SSIF-MT)An Open - Ended Income Fund

15

1 Certificate Of Deposit 47.38%


3 CBLO 10.57%

4 Govt Securities (GSE) 20.86%

5 Net Current Asset -0.82%



CBLO 10.57

UCO Bank P1+ 22.46Vijaya Bank PR1+ 10.45Oriental Bank of Commerce P1+ 8.12Central Bank of India PR1+ 6.35

Indian Railway Finance Corpn. Ltd. AAA 11.03Power Finance Corporation Limited AAA 10.98

6.49% GOI 2015 MD 08-06-2015 SOV 20.86

Grand Total 100.00

CBLO Total 10.57

Certificate Of Deposit Total 47.38


Govt Securities(GSE) Total 20.86Net Current Asset -0.82

Fund features

Nature : DebtAverage AUM : Rs. 44.18 CroreFund manager : Anupam JoshiInvestment objective : Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and aims to generate stable long-term returns through mix of accrual income and capital appreciation.Ideal investment horizon : 6 months or moreEntry load : NilExit load : IDFC-SSIF-MT - Plan A & Plan B: 0.50% of NAV shall be the exit load payable by investors who purchase / switch in and seek to redeem / switch out such units within 182 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009)Options available : Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 25 Lakh and in multiples of Re. 1 in Plan B (Institutional Plan). (w.e.f. July 6, 2009)Additional investment amount : Re.1SIP (minimum amount) : in Plan A Rs. 1,000Inception date : 8 July 2003Statistical Measures : Standard deviation 1.22%Modified Duration 1.87 YearsDividend frequency : Bi-monthly, Monthly, Fortnightly & DailyLast 3 dividends :Date Nav Freq. Others I & HIDFC- SSIF-MT Plan A26-Nov-09 10.0603 Daily 0.01475032 0.0158484925-Nov-09 10.0603 Daily 0.01512519 0.0162512224-Nov-09 10.0603 Daily 0.00433310 0.0046555030-Nov-09 10.4068 Bimonthly 0.1249 0.134220-Nov-09 10.0617 Fortnightly 0.0684 0.073530-Nov-09 10.1544 Monthly 0.1180 0.1268NAV (Rs.):Plan A Growth 15.2959Plan A Dividend Bi-Monthly 10.4068Plan A Dividend Fortnightly 10.0949Plan A Dividend Monthly 10.1544Plan A Dividend Daily 10.0524Plan B Growth 10.3804Plan B Dividend 10.8311Face Value (Rs. / unit): 10Fund manager's commentThe fund is invested in a mix of medium tenor corporate bonds and government bonds with weights allocated to certificate of deposits to temper duration. The fund will aim to maintain an average maturity between three to four years.Benchmark : CRISIL Short-Term Bond Fund Index (CSTBFI)

Asset Allocation

Fund performance IDFC-SSIF-MT - Growth as of 30 November 2009



1

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CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years

CAGR Last 5 Years


08/07/2003IDFC-SSIF-MT - Growth CSTBFI


Rating & Rankings

Value Research Rating

10.65%9.43%

7.98%

14.29%

6.86%

9.87%

8.32% 8.03%6.88%

6.17%



IDFC Super Saver Income Fund - Short Term(IDFC-SSIF-ST)An Open - ended Income Fund

16



CBLO 7.38

State Bank Of Travancore P1+ 21.70

State Bank Of Patiala P1+ 19.09

State Bank of Hyderabad A1+ 10.89

ING Vysya Bank Ltd. P1+ 2.74

Rural Electrification Corp Ltd AAA 11.56

Power Finance Corporation Limited AAA 9.82

Export Import Bank Of India AAA 5.87

Shriram Transport Finance Co Ltd. AA(IND) 2.92

Power Grid Corporation Ltd. AAA 2.88

Bharat Petroleum Corporation Ltd. AAA 1.70

ACC Ltd AAA 0.57

6.49% GOI 2015 MD 08-06-2015 SOV 1.08

Grand Total 100.00

CBLO TOTAL 7.38




Net Current Asset 1.80

Fund features

Asset Allocation

Fund performance IDFC-SSIF-ST Growth as of 30 November 2009



1

2

3 4

CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years

CAGR Last 5 Years


14/12/2000IDFC-SSIF-ST - Growth CSTBFI





4 CBLO 7.38%

5 Govt Securities 1.08%

Nature : DebtAverage AUM : Rs. 866.15 CroreFund manager : Anupam JoshiInvestment objective : Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme seeks to invest in a mix of government securities and highly rated corporate bonds and aims to generate stable long-term returns through mix of accrual income and capital appreciation.Ideal investment horizon : 3 months or moreEntry load : NilExit load : IDFC- SSIF- ST Plan A, Plan B, Plan C & Plan D: Nil. (w.e.f. August 24, 2009)Options available : Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 25 Lakh and in multiples of Re. 1 in Plan B (Institutional Plan), Rs. 5 Crores and in multiples Re. 1 in Plan C , Rs. 5000 and in multiples of Re. 1 in Plan D (MF Plan). (w.e.f. July 6, 2009)Additional investment amount : Re.1SIP (minimum amount) : in Plan A Rs. 1,000Inception date : 14 December 2000Statistical Measures : Standard deviation 0.76%Modified Duration 1.40 YearsDividend frequency : Monthly, Fortnightly Last 3 dividends :Date Nav Freq. Others I & HIDFC- SSIF-ST Plan A20-Nov-09 10.0546 Fortnightly 0.0511 0.054930-Nov-09 10.0654 Monthly 0.0783 0.0841IDFC- SSIF-ST Plan B20-Nov-09 10.0550 Fortnightly 0.0511 0.054930-Nov-09 10.0655 Monthly 0.0783 0.0841IDFC-SSIF-ST Plan C20-Nov-09 10.0546 Fortnightly 0.0511 0.054930-Nov-09 10.0656 Monthly 0.0782 0.0840IDFC-SSIF-ST Plan D20-Nov-09 10.0567 Fortnightly 0.0529 0.056830-Nov-09 10.0706 Monthly 0.0821 0.0882NAV (Rs.) :Plan A Growth 19.0090Plan A Dividend Monthly 10.0654Plan A Dividend Fortnightly 10.0667Plan B Growth 10.5378Plan B Dividend Monthly 10.0655Plan B Dividend Fortnightly 10.0668Plan C Growth 10.6151Plan C Dividend Monthly 10.0656Plan C Dividend Fortnightly 10.0664Plan D Growth 12.1816Plan D Dividend Monthly 10.0706Plan D Dividend Fortnightly 10.0699Face Value (Rs. / unit): 10Fund manager's commentThe fund is invested in a mix of certificate of deposits and short duration corporate bonds to optimize performance. The fund is well positioned to take advantage of the current interest rate scenario. Benchmark : CRISIL Short-Term Bond Fund Index (CSTBFI)

5

Rating & Rankings

ICRA Rating


Morningstar Rating

9.64% 9.32%7.87%

12.85%

7.43%

9.87%8.32% 8.03%

6.88%

IDFC Cash Fund(IDFC-CF)An Open - Ended Liquid Fund

17




CBLO 1.75

Oriental Bank of Commerce P1+ 19.41Punjab National Bank PR1+ 19.12Barclays Bank Plc P1+ 12.45Allahabad Bank P1+ 5.71UCO Bank P1+ 4.98ICICI Bank Ltd. A1+ 4.95State Bank of Hyderabad A1+ 2.49Syndicate Bank Ltd. PR1+ 1.89Canara Bank P1+ 1.17United Bank Of India Ltd. A1+ 0.55

Reliance Industries Ltd. P1+ 4.77Housing Development Finance Cor Ltd P1+ 4.48Housing Development Finance Cor Ltd A1+ 3.48L&T Finance Ltd. PR1+ 2.24ONGC Videsh Ltd. P1+ 1.98Aditya Birla Nuvo Ltd. A1+ 1.25

Grand Total 100.00

CBLO Total 1.75


Commercial Paper Total 18.21Fixed Deposits - Total 7.48Net Current Asset -0.16

Fund features

Nature : Liquid FundAverage AUM : Rs. 1846.12 CroreFund manager : Anupam JoshiInvestment objective : IDFC-CF is an open-ended liquid fund with an objective to generate optimal returns with high liquidity by investing in high quality money market and debt instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme aims to invest in a highly quality money market instruments with high liquidity and seeks to generate accrual income with low volatility.Ideal investment horizon : 1 day or moreEntry load : NilExit load : NilOptions available : Growth & Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 1 Crore and in multiples of Re. 1 in Plan B (Institutional Plan), Rs. 5 Crores and in multiples Re. 1 in Plan C (Super Institutional Plan).Additional investment amount : Re.1SIP (minimum amount) : NAInception date : 2 July 2001Statistical Measures : Standard deviation 0.11%Modified Duration 0.07 YearsDividend frequency : Daily, Weekly with compulsory re-investment, Periodic (in Plan B only) and Monthly (in Plan C only)Last 3 dividends :Date Nav Freq. Others I & HIDFC- CF Plan A30-Nov-09 10.5819 Daily 0.00080126 0.0008012629-Nov-09 10.5819 Daily 0.00081908 0.0008190828-Nov-09 10.5819 Daily 0.00081911 0.0008191127-Nov-09 10.0101 Weekly 0.0053 0.005320-Nov-09 10.0101 Weekly 0.0055 0.005513-Nov-09 10.0101 Weekly 0.0053 0.0053IDFC-CF Plan B30-Nov-09 10.5816 Daily 0.00082381 0.0008238129-Nov-09 10.5816 Daily 0.00084164 0.0008416428-Nov-09 10.5816 Daily 0.00084173 0.0008417327-Nov-09 10.0061 Weekly 0.0055 0.005520-Nov-09 10.0061 Weekly 0.0056 0.005613-Nov-09 10.0061 Weekly 0.0054 0.0054IDFC-CF Plan C30-Nov-09 10.0025 Daily 0.00087319 0.0008731929-Nov-09 10.0025 Daily 0.00088983 0.0008898328-Nov-09 10.0025 Daily 0.00088990 0.0008899021-Aug-09 10.0102 Weekly 0.0063 0.006314-Aug-09 10.0102 Weekly 0.0065 0.006530-Nov-09 10.0000 Monthly 0.0267 0.0267NAV (Rs.) :Plan A Growth 16.2234Plan A Dividend Daily 10.5819Plan A Dividend Weekly 10.0131Plan B Growth (IP ) 16.3358Plan B Dividend (IP ) Daily 10.5816Plan B Dividend (IP ) Weekly 10.0092Plan C Growth (SIP ) 11.0435Plan C Dividend (SIP ) Daily 10.0025Plan C Dividend (SIP) Monthly 10.0000Face Value (Rs. / unit): 10Fund manager's commentThe scheme is well positioned for a period of anticipated liquidity easing enabling it to deliver returns while managing the flows. Benchmark : Crisil Liquid Fund Index (CLFI)

Asset Allocation

Fund performance IDFC-CF - Growth as of 30 November 2009



1 CBLO 1.75%


3 Commercial Paper 18.21%

4 Fixed Deposits 7.48%


1

2

34

5

IDFC-CF - Growth CLFI


CAGR Last 1 Year

CAGR Last 2 Years

CAGR Since

Allotment

02/07/2001

CAGR Last 3 Years

(Absolute)30 Days

(Absolute)15 Days

(Absolute)7 Days

CAGR Last 5 Years


0.07% 0.15% 0.29%

5.14%

6.35% 6.36%5.98% 5.92%

0.05% 0.12% 0.22%

5.55%

6.84% 7.02%

6.31%



CBLO 12.98

United Bank Of India Ltd. A1+ 22.84State Bank of Hyderabad A1+ 19.05Syndicate Bank Ltd. PR1+ 19.00Canara Bank P1+ 15.24

Reliance Industries Ltd. P1+ 13.33

Grand Total 100.00

CBLO Total 12.98


Commercial Paper Total 13.33Net Current Asset -2.43

IDFC Liquidity Manager(IDFC-LM)An Open - Ended Liquid Fund

Fund features

Nature : Liquid FundAverage AUM : Rs. 24.73 CroreFund manager : Anupam JoshiInvestment objective : Seek to provide high liquidity by investing in a portfolio of money market instruments and debt instruments. Whilst the scheme would endeavour to provide high liquidity to the investors, the surplus funds will be invested to deliver reasonable returns.

Investment Style: The Scheme aims to invest predominantly in the overnight money market so as to represent the returns of that part of the money market.Ideal investment horizon : 1 day or moreEntry load : NilExit load : Nil Options available : Minimum investment amount : Minimum of Rs. 5,000 and in multiples of Re. 1 thereafter.Additional investment amount : Re.1SIP (minimum amount) : Rs. 1,000Inception date : 17 January 2006Statistical Measures : Standard deviation 0.13%Modified Duration 0.06 YearsDividend frequency : Daily with compulsory re-investment, Weekly with compulsory re-investment and Monthly.Last 3 dividends :Date Nav Freq. Others I & H

29-Nov-09 10.0125 Daily 0.00079677 0.0007967728-Nov-09 10.0125 Daily 0.00079682 0.0007968227-Nov-09 10.0040 Weekly 0.0056 0.005620-Nov-09 10.0040 Weekly 0.0058 0.0058 13-Nov-09 10.0040 Weekly 0.0056 0.005630-Nov-09 10.0382 Monthly 0.0252 0.0252NAV (Rs.):Growth 12.4727Dividend Daily 10.0125Dividend Weekly 10.0071Dividend MonthlyFace Value (Rs. / unit): 10Fund manager's commentThe scheme is invested in overnight CBLO & upto 3 month CD's in line with its objectives.Benchmark : Crisil Liquid Fund Index (CLFI)

However there is no assurance that the investment objective of the scheme will be realized.

Growth, Dividend & Dividend Sweep (w.e.f. 16-Nov-2009)

30-Nov-09 10.0125 Daily 0.00077485 0.00077485

10.0382


Asset Allocation

Fund performance IDFC-LM Growth as of 30 November 2009



IDFC-LM - Growth CLFI


CAGR Last 1 Year

CAGR Last 2 Years

CAGR Since

Allotment

17/01/2006

CAGR Last 3 Years

(Absolute)30 Days

(Absolute)15 Days

(Absolute)7 Days

18

0.31%

7.02% 6.79%

0.07% 0.16%

4.34%

5.84% 5.88% 5.87%

0.05% 0.12% 0.22%

5.55%

6.84%




4 CBLO 12.98%

1

2

3

4



CBLO 1.26

United Bank Of India Ltd. A1+ 29.58Syndicate Bank Ltd. PR1+ 28.63State Bank of Hyderabad A1+ 15.25Canara Bank P1+ 3.59

Housing Development Finance Cor Ltd A1+ 17.93

Grand Total 100.00

CBLO Total 1.26


Commercial Paper Total 17.93Net Current Asset 3.76

IDFC Liquid Fund(IDFC-LF)An Open - Ended Liquid Fund

Fund features

Nature : Liquid FundAverage AUM : Rs. 112.32 CroreFund manager : Anupam JoshiInvestment objective : Seek to provide high liquidity by investing in a portfolio of money market instruments and debt instruments. Whilst the scheme would endeavour to provide high liquidity to the investors, the surplus funds will be invested to deliver reasonable returns.

Investment Style: The Scheme aims to invest in a highly quality money market instruments with high liquidity and seeks to generate accrual Income with low volatility.Ideal investment horizon : 1 day or moreEntry load : NilExit load : NilOptions available : Minimum investment amount : Minimum of Rs. 5,000 and in multiples of Re. 1 in Plan A, Rs. 500 & in multiples of Re. 1 in Plan D.Additional investment amount : Re.1SIP (minimum amount) : Rs. 1,000 (Plan A)Inception date : 27 March 2006Statistical Measures : Standard deviation 0.12%Modified Duration 0.07 YearsDividend frequency : Daily & Weekly (with Compulsory re-investment) Monthly.Last 3 dividends :Date Nav Freq. Others I & H

29-Nov-09 1000.21 Daily 0.07325309 0.0732530928-Nov-09 1000.21 Daily 0.07339468 0.0733946827-Nov-09 1001.1827 Weekly 0.5105 0.510520-Nov-09 1001.1827 Weekly 0.5115 0.511513-Nov-09 1001.1827 Weekly 0.5166 0.516630-Nov-09 1003.4891 Monthly 2.2869 2.2869NAV (Rs.):Plan A Growth 1275.5501Plan A Dividend Daily 1000.2100Plan A Dividend Weekly 1001.4649Plan A Dividend Monthly 1003.4891Plan D Growth 10.2327Face Value (Rs. / unit): Plan A: 1000, Plan D: 10.Fund manager's commentThe scheme is invested in short maturity certificate of deposits in line with its objectives.Benchmark : Crisil Liquid Fund Index (CLFI)



30-Nov-09 1000.21 Daily 0.07311120 0.07311120


Asset Allocation

Fund performance IDFC-LF Growth as of 30 November 2009




2 CBLO 1.26%



1

23

IDFC-LF - Growth CLFI


CAGR Last 1 Year

CAGR Last 2 Years

CAGR Since

Allotment

27/03/2006

CAGR Last 3 Years

(Absolute)30 Days

(Absolute)15 Days

(Absolute)7 Days


4

19

Morningstar Rating

Rating & Rankings

0.07% 0.14% 0.28%

4.79%

6.30%6.80% 6.83%

0.05% 0.12% 0.22%

5.55%

6.84% 7.02% 6.86%

IDFC Money Manager Fund - Treasury Plan(IDFC-MMF-TP)An Open - Ended Income Fund

20



% of Name Rating NAVCBLO 2.06

Syndicate Bank Ltd. PR1+ 6.69State Bank of Hyderabad A1+ 5.51Punjab National Bank PR1+ 4.85Corporation Bank P1+ 3.61Bank of Maharashtra. A1+ 3.48State Bank Of Bikaner & Jaipur P1+ 2.94Allahabad Bank P1+ 2.65Bank of India P1+ 2.53Union Bank of India A1+ 2.24Bank of Baroda A1+ 1.97State Bank Of Mysore A1+ 1.90Andhra Bank Ltd F1+(IND) 1.78State Bank Of Travancore P1+ 1.75Oriental Bank of Commerce P1+ 1.74Central Bank of India PR1+ 1.71Barclays Bank Plc P1+ 1.60ICICI Bank Ltd. A1+ 1.53Yes Bank Ltd. A1+ 1.28State Bank Of Indore P1+ 1.28IDBI Bank Ltd P1+ 1.00Canara Bank A1+ 0.95Allahabad Bank A1+ 0.78UCO Bank P1+ 0.76ING Vysya Bank Ltd. P1+ 0.69State Bank Of Patiala P1+ 0.65Federal Bank Ltd. P1+ 0.64Vijaya Bank P1+ 0.63Canara Bank PR1+ 0.63State Bank Of Patiala A1+ 0.58Canara Bank P1+ 0.37National Housing Bank A1+ 0.32HDFC Bank Ltd. PR1+ 0.32United Bank Of India Ltd. A1+ 0.32Vijaya Bank PR1+ 0.32Jammu & Kashmir Bank Limited P1+ 0.32Central Bank of India P1+ 0.31IDBI Bank Ltd A1+ 0.31Export Import Bank Of India AAA 0.16Standard Chartered Bank P1+ 0.06

Steel Authority of India Ltd. PR1+ 4.44Hindustan Zinc Ltd. P1+ 3.21ONGC Videsh Limited P1+ 2.56Reliance Industries Ltd. P1+ 1.29Export Import Bank Of India P1+ 1.28Hindustan Petroleum Corporation Ltd. P1+ 1.01Sterlite Industries Ltd. P1+ 0.94Sundaram Finance Limited P1+ 0.83Standard Chartered Invest & Loans Ltd. P1+ 0.42L&T Finance LTD PR1+ 0.30Indian Oil Corporation Ltd. P1+ 0.12LIC Housing Finance Ltd. P1+ 0.03

Indian Railway Finance Corpn. Ltd. AAA 0.87Housing Development Finance Cor Ltd AAA 0.66LIC Housing Finance Ltd. AAA 0.61Export Import Bank Of India AAA 0.32Union Bank of India AAA 0.26Axis Bank Limited LAAA 0.26ICICI Bank Ltd. LAAA 0.10

Export Import Bank Of India AAA 1.17Housing Development Finance Cor Ltd AAA 1.05Power Finance Corporation Limited AAA 0.73LIC Housing Finance Ltd. AAA 0.40Sundaram Finance Limited LAA+ 0.33L&T Finance LTD CAREAA+ 0.32National Housing Bank AAA 0.16National Bank for Agri. & Rural Dev AAA 0.13National Textile Corporation Ltd CAREAAA 0.11IDBI Bank Ltd AA+ 0.07Rural Electrification Corp Ltd AAA 0.05Tata Sons Ltd. AAA 0.02Konkan Railway Corporation Ltd AAA 0.02Power Grid Corporation Ltd. AAA 0.02Union Bank of India AAA 0.02Indian Railway Finance Corpn. Ltd. AAA 0.01

BPCL LOAN SECUR TRUST SR64 1 P1+(SO) 0.64Loan Sec Trust ICICI Bank PTC Ser XVI AAA(SO) 0.08Corporate Debt Trust 2009-10 Sr 2 A1+(SO) 0.32

Nova IV Trust AAA(IND)(SO) 0.15

Infrastructure Development Finance Company Ltd. AAA 0.09Sundaram Finance Limited LAA+ 0.03

5.87% GOI 2010 MD 02-01-2010 SOV 2.32

91 DAYS TBILL MD 25-12-2009 SOV 0.6391 DAYS TBILL MD 15-01-2010 SOV 0.2991 DAYS TBILL MD 04-12-2009 SOV 0.42364 DAYS TBILL MD 15-01-2010 SOV 0.42364 DAYS TBILL MD 01-01-2010 SOV 0.26

Grand Total 100.00

CBLO Total 2.06


Commercial Paper Total 16.43

Floating Rate Note Total 3.07


Pass Through Certificates Total 1.04

Pass through certificates (ZCB) total 0.15

Zero Coupon Bonds Total 0.12


Treasury Bills. Total 2.01FIXED DEPOSITS - Total 6.11Net Current Asset 0.91

Fund features

Nature : Debt FundAverage AUM : Rs. 15708.34 CroreFund manager : Anupam JoshiInvestment objective : Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment Style: The Scheme aims to invest only in highly rated money market instruments including floating rate instruments with short term benchmarks. The Scheme seeks to generate returns predominantly through accrual income.Ideal investment horizon : 1 day or moreEntry load : NilExit load : IDFC-MMF - TP : Plan A, Plan B, Plan C, Plan D: Nil. (w.e.f. August 24, 2009)Options available : Growth & Dividend. Reinvestment facility is available under the Dividend option.Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 1 Crore and in multiples of Re. 1 in Plan B (Institutional Plan), Rs. 5 Crores and in multiples Re. 1 in Plan C (Super Institutional Plan), Rs. 25,000 and in multiples Re. 1 in Plan D.Additional investment amount : Re.1SIP (minimum amount) : Rs. 1,000 (Plan A)Inception date : 18 Feb 2003Statistical Measures : Standard deviation 0.11%Modified Duration 0.27 YearsDividend frequency : Monthly & Daily / Weekly with compulsory reinvestmentLast 3 dividends :Date Nav Freq. Others I & HIDFC- MMF -TP Plan A30-Nov-09 10.0699 Daily 0.00272221 0.0029248327-Nov-09 10.0699 Daily 0.00097150 0.0010438126-Nov-09 10.0699 Daily 0.00091585 0.0009840227-Nov-09 10.0079 Weekly 0.0065 0.007020-Nov-09 10.0079 Weekly 0.0064 0.006913-Nov-09 10.0079 Weekly 0.0062 0.006730-Nov-09 10.0438 Monthly 0.0283 0.0304IDFC-MMF -TP Plan B30-Nov-09 10.0703 Daily 0.00302607 0.0032513127-Nov-09 10.0703 Daily 0.00107155 0.0011513126-Nov-09 10.0703 Daily 0.00101706 0.0010927627-Nov-09 10.0133 Weekly 0.0073 0.007820-Nov-09 10.0133 Weekly 0.0071 0.007613-Nov-09 10.0133 Weekly 0.0070 0.007530-Nov-09 10.0433 Monthly 0.0315 0.0338IDFC-MMF -TP Plan C30-Nov-09 10.0015 Daily 0.00304022 0.0032665127-Nov-09 10.0015 Daily 0.00107705 0.0011572226-Nov-09 10.0015 Daily 0.00102178 0.0010978427-Nov-09 10.0070 Weekly 0.0073 0.007820-Nov-09 10.0070 Weekly 0.0072 0.007713-Nov-09 10.0070 Weekly 0.0071 0.0076IDFC-MMF -TP Plan D30-Nov-09 10.0007 Daily 0.00214321 0.0023028727-Nov-09 10.0007 Daily 0.00077820 0.0008360726-Nov-09 10.0007 Daily 0.00072265 0.00077652NAV (Rs.) :Plan A Growth 14.6268Plan A Dividend Monthly 10.0438Plan A Dividend Daily 10.0699Plan A Dividend Weekly 10.0112Plan B Growth 14.5071Plan B Dividend Daily 10.0703Plan B Dividend Weekly 10.0169Plan B Dividend Monthly 10.0433Plan C Dividend Daily 10.0015Plan C Growth 10.7525Plan C Dividend Weekly 10.0107Plan D Growth 10.2057Plan D Dividend Daily 10.0007Face Value (Rs. / unit): 10Fund manager's commentThe scheme is invested in short maturity liquid instruments in line with its objectives to deliver marginally higher returns over cash fund.Benchmark : NSE MIBOR INDEX

Asset Allocation

Fund performance IDFC-MMF-TP Growth as of 30 November 2009



1 CBLO 2.06%2 Certificate Of Deposit 61.16%3 Commercial Paper 16.43%4 Floating Rate Note 3.07%5 Non Convertible Debentures 4.60%6 Pass Through Certificates 1.04%7 Pass Through Certificates (ZCB) 0.15%8 Zero Coupon Bonds 0.12%9 Govt Securities(GSE) 2.32%10 Treasury Bills 2.01%11 Fixed Deposits 6.11%12 Net Current Asset 0.91%

1

2

3

45

6789

18/02/2003IDFC-MMF-TP - Growth NSE MIBOR


10

For Methodology of Ranking Please refer Page No. 32.

11 12

CAGR Last 1 Year

CAGR Last 2 Years

CAGR Since

Allotment

CAGR Last 3 Years

(Absolute)30 Days

(Absolute)15 Days

(Absolute)7 Days

CAGR Last 5 Years

5.76%6.08%6.42%6.59%

5.76%

0.35%0.19%0.08%

5.81%6.14%6.33%6.11%

3.89%

0.28%0.15%0.06%



CBLO 0.19

Punjab National Bank PR1+ 16.60State Bank Of Patiala A1+ 13.04Allahabad Bank A1+ 9.12Oriental Bank of Commerce P1+ 7.95Corporation Bank P1+ 6.07State Bank Of Patiala P1+ 5.84State Bank Of Travancore P1+ 5.04Citibank N.A. P1+ 4.09IDBI Bank Ltd P1+ 4.06Central Bank of India PR1+ 4.05Jammu & Kashmir Bank Limited P1+ 4.03Bank of Baroda A1+ 3.64Vijaya Bank PR1+ 3.44Central Bank of India P1+ 2.02State Bank Of Bikaner & Jaipur P1+ 2.01State Bank Of Mysore A1+ 2.00Andhra Bank Ltd F1+(IND) 2.00Canara Bank PR1+ 2.00State Bank of Hyderabad A1+ 1.01Canara Bank P1+ 1.00Export Import Bank Of India AAA 1.00

Grand Total 100.00

CBLO Total 0.19

Certificate Of Deposit Total 100.02Net Current Asset -0.21

IDFC Money Manager Fund - Investment Plan(IDFC-MMF-IP)An Open - Ended Income Fund

Fund features

Nature : DebtAverage AUM : Rs. 2699.04 CroreFund Manager : Anupam Joshi Investment objective : Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments.

Investment Style : The Scheme aims to invest in highly rated money market instruments including floating rate instruments with short term benchmarks. The Scheme seeks to generate returns predominantly through accrual income.Ideal investment horizon : 1 day or moreEntry Load : NilExit Load : Plan A & Plan B :

Options available : Minimum investment amount : Rs. 5000 and in multiples of Re.1 in plan A (Regular Plan), Rs. 1 Crore and in multiplies of Re.1 in plan B (institutional Plan).Additional investment amount : Re.1SIP (minimum amount) : Rs. 1000 (Plan A)Inception Date : 9 August 2004Statistical Measures : Standard deviation 0.12%Modified Duration 0.67YearsDividend frequency : Days, weekly (with reinvest facility in both plan A & plan B), Monthly, Quarterly & Annual. Last 3 Dividends :Date Nav freq. Others I & HIDFC-MMF-IP Plan A30-Nov-09 10.0150 Daily 0.00317361 0.0034098427-Nov-09 10.0150 Daily 0.00105899 0.0011377926-Nov-09 10.0150 Daily 0.00104261 0.0011201627-Nov-09 10.0130 Weekly 0.0073 0.007920-Nov-09 10.0130 Weekly 0.0073 0.007913-Nov-09 10.0130 Weekly 0.0074 0.008030 -Nov-09 10.0434 Monthly 0.0328 0.035229-Sep-09 10.1735 Quarterly 0.0848 0.0911

IDFC-MMF-IP Plan B30-Nov-09 10.0150 Daily 0.00337504 0.0036262227-Nov-09 10.0150 Daily 0.00111561 0.0011986426-Nov-09 10.0150 Daily 0.00110991 0.0011925527-Nov-09 10.0138 Weekly 0.0078 0.008420-Nov-09 10.0138 Weekly 0.0078 0.008413-Nov-09 10.0138 Weekly 0.0077 0.0083NAV (Rs.) :Plan A Growth 13.8472Plan A Dividend Quarterly 10.2559Plan A Dividend Annual 10.8977Plan A Dividend Monthly 10.0434Plan A Dividend Daily 10.0150Plan A Dividend Weekly 10.0168Plan B Growth 14.0888Plan B Dividend Weekly 10.0180Plan B Dividend Daily 10.0150Face Value (Rs. / unit) : 10Fund Manager's comment The scheme is invested in overnight CBLO & upto 3 month CD's in line with its objectives.Benchmark : NSE MIBOR INDEX


Exit Load for all investment including SIP/Micro SIP/STP shall be 1.00% of the applicable NAV if redeemed / switched out within 150 days from the date of allotment. (w.e.f. November 13, 2009).


30-Mar-09 10.5505 Annual 0.4158 0.4467


Asset Allocation

Fund performance IDFC-MMF-IP Growth as of 30 November 2009



CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years


09/08/2004IDFC-MMF-IP - Growth NSE MIBOR



21

CAGR Last 5 Years

(Absolute)7 Days

(Absolute)15 Days

(Absolute)30 DaysMorningstar Rating

Rating & Rankings

0.09% 0.22% 0.40%

5.83%

6.85%7.14%

6.39% 6.32%

0.06% 0.15% 0.28%

3.89%

6.11%6.33%

6.14% 6.08%

1 CBLO 0.19%



12

3

IDFC Government Securities Fund - Investment Plan(IDFC-GSF-IP)An Open Ended - Dedicated Gilt Fund Data as of 30 November 2009

22



CBLO 99.58

7.02% GOI 2016 MD 17-08-2016 SOV 30.416.90% GOI 2019 MD 13-07-2019 SOV 29.986.49% GOI 2015 MD 08-06-2015 SOV 29.72

Grand Total 100.00

CBLO Total 99.58

Govt Securities(GSE) Total 90.10Net Current Asset -89.69

Fund features

Nature : DebtAverage AUM : Rs.37.33 CroreFund Manager : Arjun Parthasarthy Investment objective : IDFC – GSF -IP is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized.Investment Style : The Scheme proposes to invest only in government securities with the aim of generating stable medium-term returns.Ideal investment horizon : 1 year or more Entry Load : NilExit Load : IDFC-GSF - IP : Plan A & Plan B : 1.00% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days from the date of effecting such purchase/switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009)Options available : Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 25 Lakh and in multiples of Re. 1 in Plan B (Institutional Plan). (w.e.f. July 6, 2009)Additional investment amount : Re. 1SIP (minimum amount) : Rs. 1000 (Plan A)Inception Date : 9 March 2002Statistical Measures : Standard deviation 2.20%Modified Duration 4.90 YearsDividend frequency : Quarterly / Half yearly / Yearly. Last 3 Dividends :Date NAV Freq. Others I & HIDFC-GSF-IP Plan A29-Sep-09 10.7372 Half Yearly 0.3769 0.404930-Jun-09 10.5064 Quarterly 0.3098 0.332930-Mar-09 10.4055 Quarterly 0.3098 0.332908-Dec-08 11.1693 Quarterly 0.6522 0.700830-Mar-09 10.7886 Half Yearly 0.6196 0.665730-Mar-09 11.0733 Annual 0.8479 0.911030-Sep-08 10.4494 Half Yearly 0.3261 0.350424-Mar-08 10.7722 Annual 0.4076 0.4380IDFC-GSF-IP Plan B30-Jun-09 10.1637 0.0815 0.0876NAV (Rs.) :Plan A Growth 17.6003Plan A Dividend Quarterly 10.5554Plan A Dividend Half Yearly 10.8718Plan A Dividend Annual 11.6389Plan B Growth 10.2365Plan B Dividend 10.2324Face Value (Rs. / unit) : 10Benchmark : ISEC Composite INDEXFund manager's comment. The funds are positioned in the segment of the yield curve where returns will be optimum.

Asset Allocation

Fund performance IDFC-GSF-IP Growth as of 30 November 2009



1 Govt Securities (GSE) 90.10%


3 CBLO 99.58%

1

23

CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years

CAGR Last 5 Years


09/03/2002IDFC-GSF-IP - Growth ISCI


10.48%

8.48%

4.43%

7.89% 7.58%7.16%

9.41%8.09% 8.04%



91 DAYS TBILL MD 25-12-2009 SOV 30.25

Grand Total 100.00

Treasury Bills. Total 30.25

Net Current Asset 69.75

IDFC Government Securities Fund - Short Term Plan(IDFC-GSF-ST)An Open Ended - Dedicated Gilt Fund

Fund features

Nature : DebtAverage AUM : Rs. 10.15 CroreFund Manager : Arjun Parthasarthy Investment objective : IDFC – GSF-ST is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities.

Investment Style : The Scheme proposes to invest only in government securities with the aim of generating stable medium-term returns.Ideal investment horizon : 1 day or more Entry Load : NilExit Load : IDFC-GSF - ST Plan A & Plan B: 0.25% of NAV on investors who purchase / switch in and seek to redeem / switch out such units within 30 days from the date of effecting such purchase / switch in. Investors opting for PEP/Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009)Options available : Minimum investment amount : Rs. 5000 and in multiples of Re. 1 in Plan A (Regular Plan), Rs. 25 Lakh and in multiples of Re. 1 in Plan B (Institutional Plan) (w.e.f. July 6, 2009)Additional investment amount : Re. 1SIP (minimum amount) : Rs. 1000 (Plan A)Inception Date : 9 March 2002Statistical Measures : Standard deviation 0.90%Modified Duration 0.02 YearsDividend frequency : Quarterly /Monthly Last 3 Dividends :Date NAV Freq. Others I & HIDFC-GSF-ST Plan A

30-Nov-09 10.0164 Monthly 0.0033 0.003629-Sep-09 10.0384 Quarterly 0.0280 0.0301IDFC-GSF-ST Plan B

31-Jul-09 10.0086 Weekly 0.0025 0.0027

NAV (Rs.) :Plan A Growth 13.6956Plan A Dividend Monthly 10.0164Plan A Dividend Quarterly 10.0547

Face Value (Rs. / unit) : 10Fund manager’s comment : The fund has a good mix of short dated treasury bills and overnight money markets to reduce volatility. Benchmark : ISEC Composite INDEX



07-Aug-09 10.0084 Weekly 0.0022 0.002431-Jul-09 10.0084 Weekly 0.0025 0.002724-Jul-09 10.0084 Weekly 0.0014 0.0015

21-Aug-09 10.0086 Weekly 0.0023 0.002514-Aug-09 10.0086 Weekly 0.0017 0.0018

29-Sep-09 10.0547 Quarterly 0.0281 0.0302

Plan B Growth 10.0549Plan B Dividend Quarterly 10.0711


Asset Allocation

Fund performance IDFC-GSF-ST Growth as of 30 November 2009



CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years

CAGR Last 5 Years


09/03/2002IDFC-GSF-ST - Growth ISCI


23

1 Treasury Bills 30.25%


1

2

2.70%2.01%

3.41% 3.57%4.15%

7.16%

9.41%

8.09% 8.04%



CBLO 100.34

Grand Total 100.00

CBLO Total 100.34Net Current Asset -0.34

IDFC Government Securities Fund - Provident Fund Plan(IDFC-GSF-PF)An Open Ended - Dedicated Gilt Fund

Fund features

Nature : DebtAverage AUM : Rs. 24.96 CroreFund Manager : Arjun Parthasarthy Investment objective : Seek to generate optimal returns with high liquidity by investing in Government Securities.

Investment Style : The Scheme propose to invest only in government securities with the aim of generating stable medium-term returns.Ideal investment horizon : 1 year or moreEntry Load : NilExit Load : IDFC- GSF- PF Plan A & Plan B : Exit load of 1.00% of NAV shall be applicable in case of investors who redeem / switch out such investments within 365 days such from the date of effecting such purchase / switch. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load.Options available : Minimum investment amount : Rs. 5000 and in multiples of Re. 1 in plan A (Regular Plan), Rs. 25,00,000 and in multiplies of Re.1 in plan B (institutional Plan).(w.e.f. July 6, 2009)Additional investment amount : Re. 1SIP (minimum amount) : Rs. 1000(Plan A)Inception Date : 29 March 2004Statistical Measures : Standard deviation 2.41%Modified Duration 0.00 YearsDividend frequency : Quarterly / Yearly Last 3 Dividends :Date NAV Freq. Others I & HIDFC-GSF-PF Plan A30-Jun-09 10.6523 Quarterly 0.3995 0.4292

IDFC-GSF-PF Plan B29-Sep-09 10.6726 Quarterly 0.0004 0.0004NAV (Rs.) :Plan A Growth 14.7759Plan A Dividend Quarterly 10.7379Plan A Dividend Annual 11.6492Plan B Growth 14.8731Plan B Dividend Quarterly 10.7871Face Value (Rs. / unit) : 10Fund Manager's comment :The funds are positioned in the segment of the yield curve where returns will be optimum.Benchmark : ISEC Composite Index



30-Mar-09 10.8942 Annual 0.7174 0.7708


Asset Allocation

Fund performance IDFC-GSF-PF Growth as of 30 November 2009



CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years


29/03/2004IDFC-GSF-PF - Growth ISCI


CAGR Last 5 Years

24

1 CBLO 100.34%

2 Net Current Asset -0.34%1

2

Morningstar Rating

Rating & Rankings


5.90%

12.38%

9.84%

7.12%7.16%8.09% 8.04%

6.07%

8.88%9.41%

IDFC All Seasons Bond Fund(IDFC-ASBF)An Open - Ended Fund of Funds Scheme Data as of 30 November 2009

25



CBLO 3.21

IDFC - SSIF - Short Term - Growth 38.90

IDFC-Money Manager Fund-Investment Plan-Inst Plan B-Growth 28.89

IDFC - SSIF - Medium Term - Growth Option 19.57

IDFC - SSIF - Investment Plan - Growth Option 10.05

Grand Total 100.00

CBLO Total 3.21

Mutual Fund Units Total 97.42

Net Current Asset -0.63

Fund features

Nature : DebtFund Size : Rs. 12.39 CroreFund Manager : Arjun Parthasarthy Investment objective : Seek to generate optimal returns with high liquidity by active management of the portfolio, by investing predominantly in debt oriented mutual fund schemes and money market instruments. However there is no assurance that the investment objective of the scheme will be realized.Investment Style : The Scheme aims to actively manage the interest rate environment by allocating funds to various fixed income schemes based on the interest rate outlook.Ideal investment horizon : 1 year or moreEntry Load : NilExit Load : IDFC-ASBF - Plan A : 0.75% of NAV on investors who purchase/switch in and seek to redeem/switch out such units within 365 days from the date of effecting such purchase/switch in Plan A. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options will not be levied an exit load. (w.e.f. August 24, 2009)Options available : Growth, Dividend & Dividend Sweep (w.e.f 16- Nov-2009)Minimum investment amount : Rs. 5,000 and in multiples of Re. 1 in plan A (Regular Plan).Additional investment amount : Re. 1SIP (minimum amount) : Rs. 1000Inception Date : 13 September 2004Statistical Measures : Standard deviation 1.93%Dividend frequency : Quarterly, Half Yearly & AnnualLast 3 Dividends :Date Nav Freq. Others I & HIDFC-ASBF Plan A29-Sep-09 10.8681 Half Yearly 0.3930 0.422330-Jun-09 10.9623 Quarterly 0.2446 0.262830-Mar-09 10.7592 Quarterly 0.2446 0.262831-Dec-08 12.1828 Quarterly 0.0815 0.087630-Mar-09 10.8909 Half Yearly 0.3424 0.367930-Sep-08 10.4756 Half Yearly 0.2038 0.219030-Mar-09 10.9681 Annual 0.4076 0.4380Nav (Rs.) :Plan A Growth 14.5292Plan A Dividend Quarterly 10.9497Plan A Dividend Half Yearly 10.9034Plan A Dividend Annual 11.4678Face Value (Rs. / unit) : 10Fund Manager's comment The fund is invested in across duration products to maximize accrual and minimize impact of interest rate movements. Benchmark : Crisil Composite Bond Fund Index (CCBFI)

Asset Allocation

Fund performance under the IDFC-ASBF-Growth as of 30 November 2009



1 Mutual Fund Units 97.42%


3 CBLO 3.21%1

2

CAGR Last 1 Year

CAGR Last 2 Years

CAGR Last 3 Years


13/09/2004IDFC-ASBF - Growth CCBFI


CAGR Last 5 Years

3

Rating & Rankings


Morningstar Rating

7.06%

9.55%9.05%

7.58% 7.42%

9.77%

6.76% 6.45%5.90% 5.57%

IDFC Fixed Maturity Plan(IDFC-FMP)A Close - Ended Income Fund

IDFC-FMP - 9 (Allotment Date 28 Feb 2005) Average AUM Rs. 21.63 Crores I Date of Maturity 07 Apr 2010


Portfolio as of 30 November 2009 Portfolio Contd...

NAV as on 25 November 2009

PLAN (Rs./Unit*)Plan A - Growth 13.5785Plan A - Dividend 11.4444* Face value per unit = Rs 10/-

Sr. Name of Market Value % to Net AssetNo. Instrument (In Rs. Lakh) of the scheme

A Bonds & Debentures of :

B Securitised Debt Instruments

C Money Market Instruments

(I) Private Corporate Bodies - - (II) PSUs 200.70 9.26 (III) Banks/FI (including NBFC) 1,752.66 80.84 (IV) Others - -

Sub Total 1,953.35 90.09

(V) Single Loan - - (VI) Pool - -

Sub Total - -

(VII) CPs - - (VIII) CDs 122.39 5.64 (IX) T Bills - - (X) CBLOs/Repos - - (XI) Bills Rediscounting/BRDS - -

(XII) Others - - Sub Total 122.39 5.64

Net Assets 2,168.16 100.00

D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets 92.42 4.26 G Others (Pls specify) - -


(V)

(VI)

AnnexureA) Bonds & Debentures

Category of Issuer Name of the Issuer Market Value (in Rating % to Net Assets of Rs.lakh) the Scheme

Total - -

Indian Railway Finance Corpn. Ltd. 200.70 AAA 9.26Total 200.70 9.26

IDBI Bank Ltd 501.80 AA+ 23.14ICICI Bank Ltd 501.18 AAA 23.12HDFC Ltd 499.87 AAA 23.05Union Bank of India 249.81 AAA 11.52Total 1,752.66 80.84

Total - -

(I) Private Corporate Bodies

(II) PSUs

(III) Banks/FI (including NBFC)

(IV) Others

B) Securitised Debt InstrumentsSingle Loan

Obligor Originator Trust Details Name of Guarantor / Level of Guarantee Market Value RatingDetails of Underlying Security (as % of Loan) (in Rs. Lakh)

Total Pool

Originator Seller Trust Details Type of Pool Credit enhancement Market Value Rating(as % of Loan) (in Rs. Lakh)

Total

D) Government Securities

Details of Market Value % to Securities (in Rs. Lakh) of the Scheme

Net Assets

Total Total

E) Fixed Deposits

Bank Name Amount % to of the Scheme

(in Rs. Lakh) Net Assets

C) Money Market InstrumentsName of Market Value Rating % to

the Schemethe Issuer (in Rs. Lakh) Net Assets of

Total - -

State Bank Of Patiala 97.43 A1+ 4.49Canara Bank 24.96 P1+ 1.15Total 122.39 5.64

Total - -

Total - -

Total - -

Total - -

(VII) CPs

(VIII) CDs

(IX) T Bills

(X) CBLOs/Repos

(XI) Bills Rediscounting/BRDS

(XII) Others

26


IDFC - FMP - NMS - 1 (Allotment Date 14 Oct 2008) Average AUM Rs. 21.35 Crores I Date of Maturity 06 May 2010

Portfolio as of 2009 30 November Portfolio Contd...


PLAN (Rs./Unit*)Plan A - Growth 11.5346Plan A - Dividend 11.5343Plan B - Growth -Plan B - Dividend -* Face value per unit = Rs 10/-





(I) Private Corporate Bodies 206.55 9.65 (II) PSUs 767.30 35.84 (III) Banks/FI (including NBFC) 512.38 23.93 (IV) Others - -

Sub Total 1,486.23 69.43


Sub Total - -

(VII) CPs 477.91 22.32 (VIII) CDs 75.12 3.51 (IX) T Bills - - (X) CBLOs/Repos 70.01 3.27 (XI) Bills Rediscounting/BRDS - -


Net Assets 2,140.72 10.00



(V)

(VI)





Total Pool


Total

C) Money Market Instruments

Indian Oil Corporation Ltd. 477.91 P1+ 22.32Total 477.91 22.32

Canara Bank 39.93 P1+ 1.87State Bank Of Patiala 29.23 A1+ 1.37Oriental Bank of Commerce 5.96 P1+ 0.28Total 75.12 3.51

Total - -

CBLOs/Repos Transaction 70.01 3.27Total 70.01 3.27

Total - -

Total - -

(VII) CPs

(VIII) CDs

(IX) T Bills

(X) CBLOs/Repos


(XII) Others

D) Government SecuritiesDetails of Market Value % to Securities (in Rs. Lakh) of the Scheme

Net Assets

Total Total

E) Fixed DepositsBank Name Amount % to

of the Scheme(in Rs. Lakh) Net Assets

Tata Sons Ltd. 206.55 AAA 9.65Total 206.55 9.65

Rural Electrification Corp Ltd 286.64 AAA 13.39Power Grid Corporation Ltd. 249.92 AAA 11.67Indian Railway Finance Corpn. Ltd. 200.70 AAA 9.38Power Finance Corporation Ltd. 30.40 AAA 1.40Total 767.30 35.84

LIC Housing Finance Ltd. 255.51 AAA 11.94Total 512.38 23.93

Total - -


(II) PSUs


(IV) Others

Housing Development Finance Cor Ltd 256.87 AAA 12.00

Name of Market Value Rating % to the Scheme

the Issuer (in Rs. Lakh) Net Assets of

27



IDFC-FMP - FMS-3 (Allotment Date 23 Sep 2009) Average AUM Rs. 1.39 Crores I Date of Maturity 27 Dec 2010


28



PLAN (Rs./Unit*)Plan A - Growth 10.0886Plan A - Dividend 10.0886* Face value per unit = Rs 10/-





(I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) 10.22 7.31 (IV) Others - -

Sub Total 10.22 7.31


Sub Total - -

(VII) CPs - - (VIII) CDs 118.62 84.89 (IX) T Bills - - (X) CBLOs/Repos 10.00 7.16 (XI) Bills Rediscounting/BRDS - -


Net Assets 139.74 100.00





Total - -

Total - -

LIC Housing Finance Ltd. 10.22 AAA 7.31Total 10.22 7.31

Total - -


(II) PSUs


(IV) Others

B) Securitised Debt InstrumentsSingle LoanObligor Originator Trust Details Name of Guarantor / Level of Guarantee Market Value Rating

Details of Underlying Security (as % of Loan) (in Rs. Lakh)

PoolOriginator Seller Trust Details Type of Pool Credit enhancement Market Value Rating

(as % of Loan) (in Rs. Lakh)

Total



Total - -

UCO Bank 39.86 P1+ 28.52Oriental Bank of Commerce 39.77 P1+ 28.46ICICI Bank Ltd 39.00 A1+ 27.91Total 118.62 84.89

Total - -

CBLO/Repo Transaction 10.00 7.16

Total - -

Total - -

(VII) CPs

(VIII) CDs

(IX) T Bills

(X) CBLOs/Repos


(XII) Others

Total 10.00 7.16


Net Assets

Total Total



(V)

(VI)

Total


IDFC-FMP - TMS-1 (Allotment Date 27 Mar 2009) Average AUM Rs. 225.54 Crores I Date of Maturity 21 Apr 2010


29


NAV as on

PLAN (Rs./Unit*)Plan A - Dividend 10.5350Plan A - Growth 10.5350Plan B - Dividend 10.5456Plan B - Growth 10.5456* Face value per unit = Rs 10/-

25 November 2009





(I) Private Corporate Bodies - - (II) PSUs - - (III) Banks/FI (including NBFC) - - (IV) Others - -

Sub Total - -


Sub Total - -

(VII) CPs - - (VIII) CDs 22,602.70 99.97 (IX) T Bills - - (X) CBLOs/Repos 10.00 0.04 (XI) Bills Rediscounting/BRDS - - (XII) Others - -

Sub Total 22,612.70 100.02

Net Assets 22,608.72 100.00

D Government Securities - - E Fixed Deposits - - F Cash and Net Current Assets (3.98) (0.02)G Others (Pls specify) - -




Total - -

Total - -

Total - -

Total - -


(II) PSUs


(IV) Others



Total Pool


Total



Total - -

ICICI Bank Ltd. 6,483.04 A1+ 28.67ING Vysya Bank Ltd. 6,347.12 P1+ 28.07Standard Chartered Bank 6,344.71 P1+ 28.06State Bank Of Bikaner & Jaipur 3,427.84 P1+ 15.16Total 22,602.70 99.97

Total - -

CBLO/Repo Transaction 10.00 0.04Total 10.00 0.04

Total - -

Total - -

(VII) CPs

(VIII) CDs

(IX) T Bills

(X) CBLOs/Repos


(XII) Others


Net Assets

Total Total



(V)

(VI)

Risk Factors

30

Risk Factors: Mutual Funds and securities investments are subject to market risks, reinvestment risk, changes in political, economic environment and government policy and there is no assurance or guarantee that the objectives of the Scheme/s will be achieved. The NAV of the Scheme/s can go up or down depending on factors and forces affecting the Securities Market including fluctuation in interest rates, trading volumes and reinvestment risk. Past performance of the Sponsor/AMC/Mutual Fund is not necessarily indicative of the future performance of the Scheme/s and may not necessarily provide a basis for comparison with other investments. IDFC Enterprise Equity Fund (IDFC - EEF), IDFC Imperial Equity Fund (IDFC - IEF),IDFC Classic Equity Fund (IDFC - CEF), IDFC India GDP Growth Fund(IDFC-IGGF), IDFC Strategic Sector (50-50) Equity Fund IDFC-SS (50-50)-EF, IDFC Premier Equity Fund (IDFC - PEF), IDFC Small & Midcap Equity (SME) Fund (IDFC - SMEF), IDFC Tax Advantage (ELSS) Fund (IDFC TA-ELSS), IDFC Arbitrage Fund (IDFC - AF), IDFC Arbitrage Plus Fund (IDFC - APF), IDFC Super Saver Income Fund - Investment Plan (IDFC - SSIF-IP), IDFC Dynamic Bond Fund (IDFC - DBF), IDFC Super Saver Income Fund - Medium Term (IDFC-SSIF-MT), IDFC Super Saver Income Fund - Short Term (IDFC-SSIF-ST), IDFC Cash Fund (IDFC-CF), IDFC Money Manager Fund - Treasury Plan (IDFC-MMF-TP), IDFC Government Securities Fund - Investment Plan (IDFC-GSF-IP) and IDFC All Seasons Bond Fund (IDFC-ASBF) are names of the Schemes and do not in any manner indicate either the quality of the Schemes, their future prospects or returns. The Sponsor or any of its associates is not responsible or liable for any loss resulting from the operation of the Schemes beyond the corpus of the Trust of Rs. 30,000/-. Terms of Issue & Load Structure: IDFC-EEF, IDFC-IEF, IDFC-CEF, IDFC-IGGF, IDFC-SS(50-50)-EF, IDFC-PEF, , IDFC-SMEF, IDFC TA( ELSS ), IDFC-AF, IDFC-APF, IDFC-SSIF (IP), IDFC-DBF, IDFC-SSIF (MT), IDFC-SSIF (ST), IDFC-CF, IDFC-MMF-TP, IDFC-GSF (IP), IDFC-ASBF: During the continuous offer the AMC calculates and publishes NAVs and offers for sale and redemption of units of the Scheme on all Business days. Entry Loads – Nil for all the schemes. Exit Load: For all the equity schemes (other than IDFC Arbitrage Fund, IDFC Arbitrage Plus Fund and ELSS Schemes of IDFC): All investment including SIP/STP/Micro SIP/STP/FOF if redeemed / switched out within 365 days from the date of allotment-1%.In case of Switches, Exit load shall be NIL for all Switch transactions between equity schemes of IDFC Mutual Fund. No Entry Load/ Exit Loads/CDSC shall be chargeable in case of switches made between different options of the scheme. IDFC-SMEF: The scheme is converted into open ended scheme w.e.f. September 11, 2009. After then during the Ongoing Offer Period load will be charged as follows: If redeemed within 365days from the date of purchase(s) applying First in First out basis (including purchase made through the STP/SIP) -1.00%.No exit load /CDSC will be chargeable in case of switches made between different options of the schemes. IDFC Tax Advantage (ELSS) Fund: Nil. IDFC-AF - (Plan A & Plan B): is an Open Ended Equity scheme. 0.25% if redemption / switch is requested within 30 days from the date purchase during on going period. IDFC-APF - (Plan A& Plan B): 0.50% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. IDFC-SSIF Investment Plan (IP) – Plan A Plan B & plan C - 1% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC –DBF (Plan A & Plan B):-Nil, IDFC-SSIF Medium Term Plan (MT) Plan A &Plan B: 0.50% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 182 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. IDFC-SSIF Short Term Plan (ST) – Plan A, Plan B, Plan C & Plan D: Nil. IDFC –CF – Nil. IDFC MMF TP (Plan A, Plan B, Plan C& Plan D) –Nil. IDFC-GSF Investment Plan (IP) – Plan A & Plan B - 1% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load and IDFC-ASBF - 0.75% of NAV on investors who purchase / switch and seek to redeem / switch out such investments within 365 days from the date of effecting such purchase / switch in. Investors opting for PEP / Dividend reinvestment option / SWP or switch between options within the plan will not be levied an exit load. Investment Objective: IDFC-EEF: It is an Open ended equity scheme. The investment objective of the scheme is to seek to generate capital growth from a portfolio of predominantly equity and equity related instruments (Including Equity derivatives). The scheme may also invest in debt and money market instruments to generate reasonable income. However there is no assurance that the investment objective of the scheme will be realized. IDFC-IEF: It is an Open ended equity scheme. The investment objective of the Scheme is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or guarantee that the objectives of the scheme will be realized. IDFC – CEF: It is an Open ended equity scheme. The investment objective of the scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-IGGF: It is an Open ended equity scheme. The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity and Equity related instruments. The scheme aims to capture the growth in India's Gross Domestic Product (GDP). The scheme would endeavor to represent the growth in GDP by capturing the growth in the constituents of the GDP. The scheme may also invest in debt and money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. IDFC-SS (50-50)-EF: It is an

Risk Factors

31

Open ended equity scheme. The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in Equity and Equity related instruments. The investment objective of the fund shall be achieved by investing up to fifty percent of the assets of the scheme in a chosen sector (sector specific exposure) while the balance amount may be invested in companies across market capitalizations and across sectors (diversified exposure). The scheme may also invest in debt and money market instruments. There is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns. IDFC-PEF: It is an Open ended equity scheme. The Scheme shall seek to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-SMEF: The investment objective of the Scheme is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments. The Scheme will predominantly invest in small and midcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index. The Scheme may also invest in stock other than mid cap stocks (i.e. in stocks, which have a market capitalization of above the market capitalization range of the defined small midcap stocks) and derivatives. On defensive consideration, the Scheme may also invest in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC TA (ELSS): The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised.IDFC-AF: It is an Open ended equity scheme. The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments and by investing the balance in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-APF: It is an Open ended equity scheme. The investment objective of the scheme is to generate income (absolute to low volatility returns) by taking advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies and by investing the balance in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC - SSIF-IP: Seek to generate stable returns by creating a portfolio that is invested in good quality fixed income and money market securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC – DBF: Seek to generate optimal returns with high liquidity by active management of the portfolio; by investing in high quality money market & debt instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-SSIF-MT: Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-SSIF-ST: Seek to generate stable returns with a low risk strategy by investing in good quality fixed income securities and money market securities. However there is no assurance that the investment objective of the scheme will be realized. IDFC-CF: is an open-ended liquid fund with an objective to generate optimal returns with high liquidity by investing in high quality money market and debt instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-MMF-TP: Seek to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IDFC-GSF-IP: is an open-ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities. However there is no assurance that the investment objective of the scheme will be realized. and IDFC-ASBF: Seek to generate optimal returns with high liquidity by active management of the portfolio, by investing predominantly in debt oriented mutual fund schemes and money market instruments. However there is no assurance that the investment objective of the scheme will be realized. IISL Disclaimer: "S&P®" and "Standard and Poor's®" are trademarks of the McGraw-hill Companies, Inc. ("S&P"), and have been licensed for use by India Index Services & Products Limited in connection with the S&P CNX Nifty Index. "The Product is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL") or Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P"). Neither IISL nor S&P makes any representation or warranty, express or implied, to the owners of the Product or any member of the public regarding the advisability of investing in securities generally or in the Product. Please read the full Disclaimers in relation to the S&P CNX Nifty Index in the Offer Document / Prospectus / Information Statement." Statutory Details: IDFC Mutual Fund has been set up as a trust by Infrastructure Development Finance Company Limited (IDFC) (liability restricted to corpus of Trust of Rs. 30,000) with IDFC AMC Trustee Company Ltd as the trustee and IDFC Asset Management Company Ltd as the investment manager. Investors in the scheme(s) are not being offered any guaranteed or assured rate of return. Copy of Scheme Information Document and Key Information Memorandum along with application form for all the schemes may be obtained from the office of IDFC Mutual Fund, One India Bulls Centre, 841, Jupiter Mills Compound, Senapati Bapat Marg,, Elphinstone Road, (West), Mumbai 400 013. Contact 1-800-226622 for details.For details please read the respective Scheme Information Document (SID) (including those of FMPs)/ Offer Document (OD) / Statement of Additional Information (SAI) carefully before investing.

Methodology of Ranking

Data as of 30 September 2009

Value Research Rating:Value Research Fund Ratings are a composite measure of historical risk-adjusted returns. In the case of equity and hybrid funds this rating is based on the weighted average monthly returns for the last 3 and 5-year periods. In the case of debt funds this rating is based on the weighted average weekly returns for the last 18 months and 3-year periods and in case of short-term debt funds - weekly returns for the last 18 months. These ratings do not take into consideration any entry or exit load.

Five-stars indicate that a fund is in the top 10% of its category in terms of historical risk-adjusted returns. Four stars indicate that a fund is in the next 22.5%, middle 35% receive three stars, the next 22.5% are assigned two stars while the bottom 10% receive one star. The number of schemes in each category is mentioned along side the categories name. Equity Diversified (142), Equity : Index (17), Equity Tax Planning (23), Hybrid Equity Oriented (25), Hybrid: Monthly Income (32), Debt: Medium-term (40), Gilt: Medium and Long-term (28), Gilt: Short-term (13), Debt: Ultra Short-term (40), Debt: Ultra Short-term Institutional (46), Debt: Short-term (15), Debt: Floating Rate Short-term (15),Debt: Floating Rate Long-term (10), Hybrid: Debt-oriented (16), Debt: Liquid Plus: (24), Debt: Liquid Plus Institutional:(23). These Fund Ratings are as on September 30, 2009.

The Value Research Ratings are published in Monthly Mutual Fund Performance Report and Mutual Fund Insight. The Ratings are subject to change every month. The Rating is based on primary data provided by respective funds, Value Research does not guarantee the accuracy.

ICRA Credit Risk Rating Methodology:ICRA's Credit Risk rating is an analytical process characterised by both width and depth, and following on the organisation's extensive knowledge base encompassing almost every sector of the Indian economy, besides the economy itself. Our goal in Credit Risk Rating of debt mutual funds is to provide investors with a simple-to-use measure of credit risk. The Credit Risk Ratings incorporate ICRA's assessment of a debt fund's published investment objectives and policies, its management characteristics, and the creditworthiness of its investment portfolio.

ICRA's analysts obtain and rely on relevant data from public and non-public sources. While this data may vary according to the type and nature of the debt fund, the following information is typically used in the Rating process:

Prospectus and related documents:-Debt fund portfolio data, including periodic investor reports and public filings.- Industry surveys, studies, and special reports - Internal documents describing the Asset Management Company's (AMC's) structure, investment philosophy, decision making process, and performance track record

In addition, ICRA encourages continual dialogue with the AMC's management. ICRA's analysts would normally meet the company representatives for a discussion of the relevant factors in connection with the assignment of an initial Credit Risk Rating, and on a periodic basis thereafter.

ICRA's Credit Matrix provides debt fund managers with investment decision flexibility. The Credit Matrix is a tool used by ICRA to analyse the investment portfolios of debt mutual funds. The analysis involves measuring a portfolio's aggregate credit quality through a review of the credit quality of each underlying debt security. A portfolio's weighted average credit quality is then measured against the appropriate benchmark credit score. Separate benchmark credit scores are used for liquid and bond funds. Short-term debt funds have weighted average portfolio maturities of up to one year and are typically liquid/cash funds. Long-term debt funds, on the other hand, have weighted average maturity of more than one year and are typically bond funds. ICRA benchmarks short-term debt funds including liquid/cash funds against a 12-month benchmark credit score, while long-term debt funds are benchmarked against the long-term benchmark credit score. ICRA generally assigns short-term MF Credit Risk Ratings to short-term/liquid funds, but gives an option to these funds to seek long-term MF Credit Risk Rating. Similarly, ICRA generally assigns long-term MF Credit Risk Ratings to bond funds, but gives an option to these funds with weighted average maturity of less than 12 months to seek short-term MF Credit Risk Ratings.

ICRA Mutual Fund Awards 2009:IDFC Dynamic Bond Fund - Plan A has been ranked as a 4 Star Fund in the category of 'Open Ended Debt – Long Term' schemes (25 Schemes) for its 1 year performance till March 31, 2009.IDFC Super Saver Income – Investment Plan – Plan A has been ranked as a 4 Star Fund in the category of 'Open Ended Debt – Long Term' schemes (25 Schemes) for its 1 year performance till March 31, 2009.IDFC Super Saver Income – Short Term Fund has been ranked as a 5 Star Fund in the category of 'Open Ended Debt – Short Term' schemes (11 Schemes) for its 1 year performance till March 31, 2009.IDFC Imperial Equity Fund – Plan A has been ranked as a 5 Star Fund in the category of 'Open Ended Diversified Equity - Defensive' schemes (65 Schemes) for its 1 year performance till March 31, 2009.IDFC Premier Equity Fund – Plan A has been ranked as a 4 Star Fund in the category of 'Open Ended Diversified Equity - Defensive' schemes (65 Schemes) for its 1 year performance till March 31, 2009.IDFC Dynamic Bond Fund - Plan A has been ranked as a 5 Star Fund in the category of 'Open Ended Debt – Long Term' schemes (20 Schemes) for its 3 year performance till March 31, 2009.IDFC Super Saver Income – Investment Plan – Plan A has been ranked as a 4 Star Fund in the category of 'Open Ended Debt – Long Term' schemes (20 Schemes) for its 3 year performance till March 31, 2009.IDFC Super Saver Income – Short Term Fund has been ranked as a 4 Star Fund in the category of 'Open Ended Debt – Short Term' schemes (11 Schemes) for its 3 year performance till March 31, 2009.IDFC Premier Equity Fund – Plan A has been ranked as a 5 Star Fund in the category of 'Open Ended Diversified Equity - Aggressive' schemes (39 Schemes) for its 3 year performance till March 31, 2009.IDFC Imperial Equity Fund – Plan A has been ranked as a 5 Star Fund in the category of 'Open Ended Diversified Equity - Defensive' schemes (57 Schemes) for its 3 year performance till March 31, 2009.The rank is an outcome of an objective and comparative analysis against various parameters, including: risk adjusted return, fund size, company concentration, portfolio turnover and liquidity. The ranking methodology did not take into account entry and exit loads imposed by the Fund. The ranks are neither a certificate of statutory compliance nor any guarantee on the future performanceRanking Source & Publisher : ICRA Online Ltd.

ICRA Credit Risk Rating:IDFC Money Manager Fund - Treasury Plan: “Credit Risk Rating mfAAA” - The Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category.IDFC Money Manager Fund – Investment Plan: “Credit Risk Rating mfAAA” - The Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category.IDFC Cash Fund: “Credit Risk Rating mfA1+” - The highest-credit-quality short-term rating assigned by ICRA to debt funds. Debt funds rated in this category carry the lowest credit risk in the short term and are similar to that of fixed income obligations of highest-credit-quality category with maturity of upto one year.This rating should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.Source: ICRA Ltd.

CRISIL Credit Quality Rating:IDFC Super Saver Income Fund - Investment Plan: “Credit Quality Rating AAAf” - The assigned rating AAAf is valid only for “IDFC Super Saver Income Fund - Investment Plan”. The rating of CRISIL is not an opinion on the Asset Management Company’s willingness or ability to make timely payments to the investor. The rating is also not an opinion on the stability of the NAV of the Fund, which could vary with market developments.

CRISIL Credit Quality Rating Methodology:CRISIL's credit quality ratings are based on the analysis of the credit risk of securities held by the fund. CRISIL has developed a Credit Quality Matrix to evaluate fund’s overall level of protection against losses associated with credit default. The matrix is a set of credit factors and credit scores derived scientifically from CRISIL’s rating default and transition rates.

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ICRA Credit Risk Rating Disclaimer:The rank for the schemes is an outcome of an objective and comparative analysis against various parameters, including: risk adjusted return, fund size, company concentration, portfolio turnover and liquidity. 7-Star Fund Rank indicates - Best Performance amongst the 5-Star Funds. 5-Star Fund Rank indicates - Best performance (Top 10% of the category). Entry/Exit Loads not considered.Past Performance is no guarantee of future results. Ranking Source & Publisher: ICRA Online Limited.

Morningstar Rating This Morningstar-sourced information is provided to you by IDFC AMC and is at your own risk. Morningstar is not responsible for any damages or losses arising from any use of this information. Also, this information must not be relied upon without appropriate verification. IDFC AMC informs you as follows: (i) no investment decision should be made in relation to any of the information provided other than on the advice of a professional financial advisor; (ii) past performance is no guarantee of future results; and (iii) the value and income derived from investments can go down as well as up.

The Morningstar fund rating methodology is based on a fund's risk-adjusted return within a given Morningstar category. Morningstar ratings are calculated every month for the 3 year, 5 year and 10 year period. Within each rating period, the top 10% funds receive a five star rating, the next 22.5% earn a four star rating, the next 35% get three stars, the next 22.5% receive two stars, and the bottom 10% get one star. Loads are not considered for the rating purpose. The rating is based on NAV provided by respective funds. Morningstar does not guarantee accuracy of the data.

IDFC AMC Offices

Ahmedabad : Ground Floor, Zodiac Avenue, Opp. Mayor’s Bunglow, Near Law Garden, Ahmedabad - 380 006. Tel.: 079-64505881/5857.

Bangalore : Raheja Point, 2nd Floor, Magrath Road, Opp. Garuda Mall, Bangalore - 25. Tel.: 080-64501951/52,66111504/05/06.

Chandigarh : Sco-2475-76, 1st Floor, Sector-22, Chandigarh - 160022. Tel. :0172-5071918/19/21/22. Fax : 01725071918..

Chennai : Maalavika Centre, Old no. 144/145, New No. 60, Kodambakkam High Road, Nungambakkam, Chennai - 600 034.

Tel.: 044-39185409/ 10/ 11.

Cochin : 39/3993 B2, Ground floor, Vantage Point, VRM Road, Ravipuram, Cochin-682 016, Kerala. Tel: 0484-3012639/4029291, Fax: 0484-2358639

Coimbatore : Red Rose Plaza, 509 H, II Floor, D.B. Road, R.S. Puram, Coimbatore - 641 002. Tel.: 0422-2542645, 2542678.

Dehradun : C/o EBD BUSINESS CENTRE, cubicle no 3, 49, Rajpur Road, Dehradun- 248001, Tel.: 09837500990

Goa : Advani Bussiness Centre, Neelkamal Arcade, A B Road, Panjim, Goa - 403001. TEl: 0832-6650403, Fax: 0832-6650310.

Mobile : 9823289903.

Hyderabad : 4th Floor, Central Plaza, #6-3-902/A, Raj Bhavan Road, Somajiguda, Hyderabad - 500082 Tel.: 040-42014646/47, Fax-040-40037521.

Indore : 405, 4th Floor, 21 / 1, D.M. Tower, Race Course Road, Indore – 452 001.Phone: 0731-4206927/ 0731-4208048. Fax 0731-4206923

Jaipur : G-7, G-8, Anukampa Towers, Church Road, Jaipur - 302 001. Tel.: 0141-5105797, 5105798.

Kanpur : Office No. 214, 215, IInd Floor, KAN Chambers, 14/113, Civil Lines, Kanpur - 208 001. Tel: 0512-2331071, 2331119.

Kolkata : Oswal Chambers, 1st Floor, 2 Church Lane, Kolkata - 700 001. Tel.: 033-3024 9794/ 78/ 89/ 88/ 90.

Lucknow : Flat No. 2, 1st Floor, SAS House, 6B, Tej Bhadur Sapru Marg, Lucknow -226001. Tel : 0522 – 3056900/01/02/03/04/05. Fax – 0522 - 3056900

Ludhiana : SCO 16-17, Basement, Feroze Gandhi Market, Ludhiana - 141 001. Tel.: 0161-5022155, 5022156.

Mumbai : 17/18, 3rd Floor, Vasvani Mansion, 120, Dinshaw Vachha Road, Opp K.C. Collage, Churchgate, Mumbai 400 020. Maharashtra. Phone 022-22876419

Nagpur : Fortune Business Centre, First Floor, 6 Vasant Vihar, W.H.C.Rd., Shankar Nagar, Nagpur-440010. Tel.: 0712-6451428 / 2525657

Nashik : Kavita Complex 2nd Floor, Madan Services, Near Big Bazar, College Road, Nasik 422005. Mob. 09970625856.

New Delhi : 4th Floor, Narain Manzil, 23 Barakhamba Road, New Delhi - 110 001. Tel.: 011-47311301/ 02/03/04/05.

Patna : Bhagwati Dwarka Arcade, Plot No. 830P, Exhibition Road, Patna - 800001

Pune : 1st Floor, Dr. Herekar Park Building, Next to Kamala Nehru Park, Off. Bhandarkar Road, Pune - 411 004. Tel: 020-66020965/ 4.

Rajkot : “Star Plaza”, 2nd Floor, Office No. 201, Phulchab Chowk, Rajkot - 360 001. Tel. 0281-6626012.

Surat : U-15/16, Jolly Plaza, Athvagate, Surat: 395001. Phone: 2475060, 2475070

Vadodara : Ground Floor, Akash Ganga Complex, Adjacent to Vanijya Bhavan, Race Course Circle, Vadodara - 390 007. Tel.: 0265 - 6620919/ 939.

Visakhapatnam : Visakha Executive Centre, 47-11-1/5, Eswar Arcade, Dwarakanagar,1st Lane, Visakhapatnam-530016,

Mob: 99634-39222.

Phone TransactREDEEM SWITCH CHECK BALANCE

Call Free: 1-800-226622** Available from 8.00 am to 7.00 pm on all business days.www.idfcmf.com

IDFC Asset Management Company Ltd. Registered Office: One IndiaBulls Centre, Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400013. Tel No. 24399999; 66289999; Fax: 24215051-52.

Documents

IDFC Factsheet Complete - IDFC Mutual Funds · PDF fileHCL Infosystem Ltd. 637.03 2.18 Cox and Kings India Limited 318.59 1.09 Grand Total 29273.29 100.00 Auto Total 1802.15 6.16 Auto