InvestMap Fact Sheet August 2010

8/8/2019 InvestMap Fact Sheet August 2010

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INVESTMAP

www.sundarambnpparibas.in Sundaram BNP Paribas Mutual Fund

Toll Free 1800 425 1000 SMS SFUND to 56767 Email [email protected]

Fact Sheet for August 201


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www.sundarambnpparibas.in Sundaram BNP Paribas Mutual Funwww.sundarambnpparibas.in Page 2August 31, 2010

Past performance may or may not be sustained in the future; Returns are in %. Returns computed on compounded annualised basis bas

on NAV of Regular Plan Growth Option. Sundaram BNP Paribas PSU Opportunities returns are on a absolute basis. NAV, performance & AU

as on August 31, 2010; Relevant benchmarks highlighted in italics.

Track Record Equity Funds

Launch Period One Year Three Years Five Years Since Laun

Sundaram BNP Paribas Growth Fund Apr-97 20.5 7.3 18.1 21.0

E 200 19.3 7.4 17.9 14.8

S&P CNX 500 18.1 6.9 16.4 Sundaram BNP Paribas Select Focus Jul-02 16.4 9.1 21.2 31.0

S&P CNX Nifty 15.9 6.6 17.8 23.8

S&P CNX 500 18.1 6.9 16.4 25.8

Sundaram BNP Paribas Select Mid Cap Jul-02 35.7 15.4 25.0 40.1

E Mid Cap 29.1 4.8 13.3 29.0

S&P CNX 500 18.1 6.9 16.4 25.8

Sundaram BNP Paribas India Leadership Jul-04 24.8 8.6 17.4 25.9

S&P CNX Nifty 15.9 6.6 17.8 22.6

S&P CNX 500 18.1 6.9 16.4 22.9

Sundaram BNP Paribas SMILE Fund Feb-05 25.6 18.2 21.1 25.0

CNX Mid Cap 41.9 12.8 18.8 21.3

S&P CNX 500 18.1 6.9 16.4 17.9

Sundaram BNP Paribas Equity Multiplier Feb-07 18.4 8.4 10.7

CNX Mid Cap 41.9 12.8 16.7

S&P CNX 500 18.1 6.9 10.2

Sundaram BNP Paribas Select Small Cap Feb-07 37.8 9.3 9.8

E Small Cap 36.4 5.8 8.4

S&P CNX 500 18.1 6.9 9.2

Sundaram BNP Paribas Tax Saver Nov-99 16.7 13.2 20.8 22.4

E 200 18.2 7.4 17.9 15.0

S&P CNX 500 18.1 6.9 16.4 15.0

Sundaram BNP Paribas Capex Opportunities Sep-05 15.8 5.5 20.9

SE Capital Goods 10.4 2.7 24.5

S&P CNX 500 18.1 6.9 15.0

Sundaram BNP Paribas Rural India May-06 30.3 6.3 10.5

500 20.6 7.0 9.5

S&P CNX 500 18.1 6.9 9.0

Sundaram BNP Paribas Energy Opportunities Jan-08 4.2 -5.6

Oil & Gas 1.5 -10.4

S&P CNX 500 18.1 -6.2

Sundaram BNP Paribas Financial Opportunities Jun-08 49.1 36.4

CNX Banks 44.6 31.8

S&P CNX 500 18.1 11.4

Sundaram BNP Paribas Entertainment Opportunities Jun-08 20.2 23.8

CNX Media 39.7 2.5

S&P CNX 500 18.1 10.0

Sundaram BNP Paribas PSU Opportunities Jan-10 13.6

CNX PSE -6.3

S&P CNX 500 2.4

Assets Under Management (end of month): Rs 13,578 crore / $ 2.88 billion Assets Under Management (Average): Rs 13,218 crore / $ 2.81 billion

Disclosures: Page 28 &

Fund / Index


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Outlook

Equity: Markets continue to remain range bound in the pastmonth with a return of 0.9%, while other regionsoutperformed - namely Brazil and China.

Participation by local mutual funds and other financialinstitutions was muted. This appears a continuing story for the

better part of this year, and is likely to continue for theremaining part of this year as well.

Foreign investors are increasing their exposure to Indianequities on the back of higher growth expectations andimproved profitability. Indian markets offer diversity as well asdepth for institutional investors to take a long-term view onmarkets. Yet, this may not be enough to hold the markets.

Global trends: The global economic recovery is still patchyand convincing enough for markets. Most economists havedowngraded economic growth once again after just upgradingthem a few months back. The jobless claims data remainsstubbornly high and is a cause for concern.

Many governments are now adopting fiscal austerity measuresto contain the fiscal damage of this recession leading toworries of a further slowdown. On the margin, the favourablebase effect is going to wear out and fears of a double-dip willbegin to resurface denting the confidence in the markets.

Monsoon, no cause for worry: Courtesy good quantum ofrainfall, crop output is likely to rise and bolsterstheconsumption theme in the economy. Indeed, many consumercompanies tell us that there is a pent up demand in tier-3 andtier-4 towns and proper distribution and logistics can helpimprove demand. Hence this sector appears to be fairlyresilient with secular growth prospects.

Yet competitive pressures are increasing as new multi-nationalcompanies come in to set up operations in India and couldpotentially reduce margins for a sustained period of time togain market shares.

Outlook: We think markets will consolidate for some moretime as global uncertainities are high and envisioning a longterm growth scenario appears difficult at this point in time.

India has a lot going for it - low cost of global capital, interestof investors, favourable demographics and a more benigncommodity regime. This sets the stage for a sustained periodof growth in India, provided policy makers are on the same

page.We remain concerned by the recent politics as it could erodeinvestor confidence significantly. The longer-term pictureremains favourable with major tax reforms coming through - anew direct tax code and a new GST regime which is likely toenhance trade efficiency.

We believe making significant returns in the equity marketsover the short term could be challenging, but for the mediumto long term, it is the best place to be.

Satish Ramanathan

Head Equity

Bonds: August witnessed the unfolding of liquidity in tsystem on government spending and advance taxes buup in the system. Money market rates remained at elevatlevels as bank issuers and companies raised monies in tthree-month bucket.

The base rate regime has resulted in an unprecedented rise the commercial paper issuances as the companies look lower borrowing cost. Credit growth showed a slack as textraordinary demand for credit due to 3G auctions subside

In the coming months, as banks shore up their deposit ratesis likely that the deposit growth rate increases by couple percentage points from current levels.

Government bond yields traded in a range of 7.80%-8.07and ended higher as compared to the last month. The concewas that the current benchmark security will be an off-the-rsecurity and will be replaced by another security which is othe-run security.

Money market rates continued the trend upward with tpremium bank CDs (certificate of deposits) trading in a band7.00% to 7.20% while the CPs (commercial papers) traded to 25 basis points higher. The rates were higher by 30 to basis points from last month.

Liquidity as indicated by the outstanding amounts on the L(Liquidity Adjustment Facility) was deficit to the tune average Rs 1100 crore indicating a net induction of liquidover the previous month.

Inflation as measured by WPI (Wholesale Price Index), tmonthly series was at 9.97% for the month ended July 20

vis--vis 10.6% in June. The weekly primary articles inflatinumber has remained flat.

The global economy remains in the weak economic cycle the incoming data remains mixed in the larger developeconomies. The jobless claims were more than anticipatwhile the core inflation remained lower than the growth ratin these economies. The likelihood of these econom

growing at a brisk pace is low in the near future.

Outlook: We do not expect the long-bond yields to rise sharpdespite the expectation of the central bank raising rates September policy. The ten-year yield is likely to be in the ranof 7.80%-8.15% during the month. The withdrawal fromutual funds on account of quarter end considerations frobanks and corporate clients may not be disruptive to tmarket, as mutual funds have maintained adequate cabalances. We may see some buying emerging in the threemonth bucket of the bank certificate of deposits acommercial papers offered by companies. We do not seesharp drop in money market yields on account of ca

deployment from corporate treasuries and mutual funthough the rates are likely to be lower than the prior month

Dwijendra Srivatsava

Head Fixed Income


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Sundaram BNP Paribas Growth Fund

Fund Facts: An open-end equity scheme Launch: April 1997 Bloomberg: SUNGROW IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim

Amount: Rs 5,000 SIP/STP: Weekly Rs 1000, Monthly Rs 250, Quarterly Rs 750 Terms of offer: NAV Exit Load: 1% if redeemed within 12 months from date of allotment Disclosures: Page 28 & 29

Overweight UnderweightActive Sector Allocation versus Benchmark

Services

Pharma

Auto

Energy - Oil & Gas

Industrial Manufacturing

Financial Services

Overweight UnderweightActive Stock Allocation versus Benchmark

Bank of India

Tata Motors

Spicejet

Bharti Airtel

MphasiS BFL

Reliance Industries

H D F C

HDFC Bank

O N G C

T C S

Sector Profile (%)

Financial Services20.7

Auto9.3

Services8.7

Pharma8.7Consumer Goods

8.4

IT7.0

Others25.7

Cash5.1

Metals6.4

Portfolio

Security Weight %

Portfolio Stance: The equity exposure in the

portfolio was pared by about two percentage

points to about 95%. The equity portfolio, as

always, maintains a well-diversified stance

with single-stock exposure at the time of

buying a stock capped at 5%. The exposure

to mid-cap space stays at an enhanced level,

but the portfolio retains its large-cap tilt in

line with fund positioning. Top sectors by

allocation (not necessarily preference) are

financial services, auto and services. The

degree of active bet in services, which wasthe most active exposure at the end of last

month relative to the benchmark, has been

reduced. Within sectors, the preference is for

defensive and high visibility options such as

pharma, auto and IT. Exposure to energy has

been reduced and stays as the most active

underweight stance as of end August as well.

Tata Motors 5.0

ICICI Bank 4.8

Bharti Airtel 4.4Infosys 4.3

Bank of India 4.1

Spicejet 3.2

Larsen & Toubro 2.8

MphasiS BFL 2.7

United Spirits 2.6

Mahindra & Mahindra 2.6

State Bank of India 2.5

Dr Reddy's Labs 2.5

Axis Bank 2.4

Jet Airways 2.4

Zee Entertainment 2.4

Sterlite Industries 2.3

United Phosphorus 2.3

Power Trading 2.2

ITC 2.2

Glenmark Pharma 2.2

Lupin 2.2

Punjab National Bank 2.2

Tata Steel 2.1

Hindalco 2.0

Videocon Industries 2.0

IVRCL Infra 1.9

Indian Hotels 1.9

SKS Micro Finance 1.9Cipla 1.9

Grasim 1.9

Bajaj Auto 1.7

Hindustan Unilever 1.6

Adani Power 1.6

R E C 1.5

Unitech 1.4

Apollo Tyres 1.3

Idea Cellular 1.3

O B C 1.3

G E Shipping 1.3

Dish TV 1.2

B P C L 0.9

KEI Industries 0.1

Equity 94.9

Derivatives

Fixed Income

Cash / Others 5.1

Number of Stocks 42Weighted Average Market Cap: Rs 45,697 crore

Median Market Cap: Rs 22,870 crore

Fund Manager: J Venkatesan; He hasexperience of 19 years and is managing thisfund since January 2008

Benchmark BSE 200 Index

Value of Rs 1000-a-month SIP

Dividend-last 3 years (For history refer page 27)Record Date % Rs. per unit Record Date NA

16/11/07 65.0 6.50 23.35

19/02/10 20.0 2.00 12.70

Dividend is declared on the face value of Rs 10 per unit. After declaration and paymof dividend, the ex-dividend NAV will decline to the extent of the dividend payme

Fund Size: Rs 163 crore NAV (Growth): Rs 93.1552 NAV (Dividend): Rs 12.440

Turnover (%) 178

Relative performance for Rs 100 invested at launc

Fund: Rs 1,281 Benchmark: Rs 6

0200400

600800

10001200140016001800

Apr-97 Aug-10

Fund

Benchmark

Performance Change in NAV (%) Returns (%) Exce

Positioning: Diversified Large-Cap Fund

Period Fund Benchmark Fund Benchmark % poi

Since Inception 1180.9 532.8 21.0 14.8 6

Last 10 years 543.0 368.0 20.4 16.7 3

Last 7 years 403.3 316.8 25.9 22.6 3Last 5 years 130.3 127.5 18.1 17.9 0

Last 3 years 23.5 24.0 7.3 7.4 -0

Last 2 years 24.1 29.2 11.4 13.7 -2

Last 1 year 20.5 19.3 20.5 19.3 1

Past performance may or may not be sustained in future. Return/investment v

are as of August 31, 2010 are computed using an adjusted series of NAV for dividedeclared before separate Dividend and Growth Options were introduced in Janu2003. Returns are on a compounded annual basis. SIP values are in rupPerformance Analysis on annualised basis using month-end NAVs since launch. risk free rate is 7.651% per annum based on the upper band of 10 year T-Bill yield

Performance Analysis (Based on returns)

Alpha 5.93

Correlation 0.95

Tracking Error 8.

Information Ratio 0.

Period Investment Fund Benchma

Since Inception Returns 22.8% 18.5%

Since Inception Value 1,60,000 8,54,422 6,11,434

Last 10 years 1,20,000 4,45,181 3,77,272

Last 7 years 84,000 1,67,013 1,61,044

Last 5 years 60,000 85,441 86,614

Last 3 years 36,000 46,342 46,911

Last 2 years 24,000 33,601 33,645Last 1 year 12,000 13,390 13,036

Fund Benchmark

Mean 23.22 18.43Standard Deviation 28.04 29.92Beta 0.89 1.00Sharpe Ratio 0.56 0.36Sortino Ratio 0.79 0.52Treynors Index 17.41 10.78


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Sundaram BNP Paribas Tax Saver

Fund Facts: An open-end ELSS scheme Launch: November 1999 Bloomberg: SNDTAXO IN Regular Plan Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minimum Amo

Rs 500 SIP/STP: Weekly Rs 1000, Monthly Rs 250, Quarterly Rs 750 Terms of offer: NAV Exit Load: Nil (lock-in period 36 months) Disclosures: Page 28 & 29

Dividend-last 3 years (For history refer page 27)Record Date % Rs. per unit Record Date NA23/03/07 20.0 2.00 14.483228/12/07 30.0 3.00 22.011728/03/08 15.0 1.50 14.034818/09/09 10.0 1.00 14.817329/01/10 20.0 2.00 13.661519/03/10 10.0 1.00 12.0734



Energy - Utilities

Financial Services

Media & Entertainment


Metals

Energy - Oil & Gas


Adani Power

Cairn India

Tata Motors (Class A)

MphasiS BFL

Canara Bank

Infosys Technologies

Reliance Industries

Larsen & Toubro

HDFC

State Bank of India

Sector Profile (%)

FinancialServices

28.1

EnergyUtilities

11.2Energy

Oil & Gas9.3

IT8.6

Consumer Goods7.7

Pharma4.3

Auto3.9

Others12.5

Fixed Income2.2

Cash12.1

Portfolio

Security Weight %

Portfolio Stance: The portfolio retains its

multi-cap diversified profile with a large-cap

tilt in line with its positioning. Allocation to

equity is at about 85%. The weighted

average-market cap confirms the large-cap

orientation while the median market cap

indicates the addition of a dash of mid- and

small-cap stocks to the portfolio of the fund.

Exposure to mid- and small-cap stocks stay

at relatively higher levels than is usual, in

view of the favourable valuation

differentials. Top sectors in terms of

allocation stay financial services, energy

(utilities) and energy (oil & gas), which

collectively account for about 49% of the

portfolio. We continue to own the energy

space (utilities and oil & gas) by spreading

the exposure across several stocks.

Cairn India 4.9

ICICI Bank 4.8

Adani Power 4.6MphasiS BFL 3.9

Canara Bank 3.9

Tata Motors 3.8

IndusInd Bank 3.6

Axis Bank 3.4

ITC 3.3

Ranbaxy 3.1

T C S 3.0

Reliance Industries 2.8

Kingfisher Airlines 2.5

R E C 2.5

Indraprastha Gas 2.5

Tata Global Beverages 2.2


Kotak Mahindra Bank 2.1

Bharti Airtel 2.1

CESC 2.1

IndiaInfoline 1.9

Unitech 1.8

Satyam Computers 1.7

Bajaj FinServ 1.7

Petronet LNG 1.6

Sterlite Industries 1.5I D F C 1.5

Reliance Infrastructure 1.4


Dish TV 1.2

GSK Pharma 1.2

StanChart IDR 1.1

KSK Energy 1.0

JSW Energy 1.0

O B C 0.9

Adani Enterprises 0.7

IDBI Bank 0.5

Bajaj Auto Finance 0.2

Maruti 0.1

Equity 85.7

Derivatives

Fixed Income 2.2

Cash / Others 12.1



Fund Manager: Satish Ramanathan; He hasexperience of 16 years and is managing thisfund since September 2007.




Since Inception Returns 28.0% 20.4%Since Inception Value 1,29,000 6,48,952 4,14,948Last 10 years 1,20,000 5,77,185 3,77,292

Last 7 years 84,000 2,03,106 1,61,064

Last 5 years 60,000 92,875 86,635

Last 3 years 36,000 47,588 46,931

Last 2 years 24,000 32,748 33,666

Last 1 year 12,000 13,028 13,036

Past performance may or may not be sustained in future. Return/investment value are as of Au31, 2010 are computed using an adjusted series of NAV for dividends declared before sepDividend and Growth Options were introduced in May 2005. Returns are on a compounded anbasis. SIP values are in rupees. Performance Analysis on annualised basis using month-end NAVs

launch. The risk free rate is 7.651% per annum based on the upper band of 10 year T-Bill yield.

Fund Size: Rs 1,492 crore NAV (Growth): Rs 44.2855 NAV (Dividend): Rs 11.87

Turnover (%) 183


Fund: Rs 883 Benchmark: Rs 4

0

200

400

600

800

1000

1200

Nov-99 Aug-10

FundBenchmark


Positioning: Multi-Cap (Large-Cap Bias)


Since Inception 783.1 350.9 22.4 15.0 7

Last 10 years 764.1 368.0 24.1 16.7 7


Last 3 years 45.0 24.0 13.2 7.4 5

Last 2 years 40.4 29.2 18.5 13.7 4

Last 1 year 16.7 18.2 16.7 18.2 -1


Alpha 6.87

Correlation 0.95

Tracking Error 9.


Fund Benchmark



6/32


Sundaram BNP Paribas Select Focus

Fund Facts: An open-end equity scheme Launch: July 2002 Bloomberg: SUNSFOG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim



Auto

Real Estate


Energy - Oil & Gas

IT

Energy - Utilities


Tata Motors (Class A)

Sun TV

Tata Global Beverages

Lanco Infratech

StanChart IDR

Reliance Industries


HDFC Bank

H D F C

O N G C

Sector Profile (%)


Auto11.7

Consumer Goods10.2Industrial

Manufacturing7.7

IT7.6

Real Estate6.4

Metals5.4

Others17.9

Cash10.3

Portfolio

Security Weight %

Portfolio Stance: Sundaram BNP Paribas

Select Focus has completed eight years as a

dedicated large-cap fund sporting an

acclaimed track record and having outpaced

benchmark comfortably since launch. The

large-cap tilt has been an integral feature

since launch in July 2002, providing comfort

of style integrity to investors. The style

integrity and track record makes the fund an

appropriate vehicle for defined asset

allocation decision by investors. The fund

has delivered excess returns that more thanadequately compensates for the higher risks

inherent in the style. This concentrated large-

cap strategy has reduced equity exposure to

about 90%. The top three sector exposures

by allocation financial services, auto and

consumer goods - account for about 45 % of

the assets.

ICICI Bank 7.4

T C S 4.5

Tata Motors 4.3

Bharti Airtel 4.3

ITC 4.3


Axis Bank 3.8

Sun TV 3.6


Cairn India 3.5

Lanco Infratech 3.4

Larsen & Toubro 3.3

Tata Motors 3.2


Infosys 3.1

StanChart IDR 2.9

Dr Reddy's Labs 2.6

Unitech 2.5

DLF 2.4

Grasim 2.2

Ashok Leyland 2.1

TVS Motors 2.0H D F C 2.0

Titan Industries 2.0

H D F C (Warrants) 1.8

Ranbaxy 1.6

Sobha Developers 1.5

Hindustan Zinc 1.2

Engineers India 1.0

Sesa Goa 1.0

Union Bank of India 0.7

Pantaloon Retail 0.4

Equity 89.7

Derivatives

Fixed Income

Cash / Others 10.3



Fund Manager: Srividhya Rajesh; She hasexperience of 14 years and is managing thisfund since its launch in July 2002.

Benchmark S&P CNX Nifty Index




Since Inception Value 97,000 2,83,554 2,24,201

Last 7 years 84,000 1,78,850 1,55,841

Last 5 years 60,000 87,653 83,599

Last 3 years 36,000 44,543 44,820

Last 2 years 24,000 31,580 31,826

Last 1 year 12,000 12,998 12,847


30/11/07 65.0 6.50 21.73

26/03/10 20.0 2.00 12.92



Turnover (%) 255


Fund: Rs 888 Benchmark: Rs 562 S&P CNX 500: Rs 6

0

200

400

600

800

1000

1200

Jul-02 Aug-10

FundBenchmark

S&P CNX 500


Positioning: Concentrated Large-Cap Fund


Since Inception 787.6 462.4 31.0 23.8 7

Last 7 years 434.9 298.2 27.0 21.8 5

Last 5 years 161.9 126.5 21.2 17.8 3

Last 3 years 29.8 21.0 9.1 6.6 2

Last 2 years 23.6 23.9 11.2 11.3 -0

Last 1 year 16.4 15.9 16.4 15.9 0

Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysiannualised basis using month-end NAVs since launch. The risk free rate is 7.651%annum based on the upper band of 10 year T-Bill yield.


Alpha 6.53

Correlation 0.93

Tracking Error 10.


Fund Benchmark



7/32


Sundaram BNP Paribas Select Mid Cap

Dividend-last 3 years (For history refer page 27)

Record Date % Rs. per unit Record Date NA09/02/07 25.0 2.50 18.782124/04/09 10.0 1.00 11.529104/09/09 10.0 1.00 17.766620/11/09 15.0 1.50 18.795705/02/10 15.0 1.50 17.4552


Fund Facts: An open-end equity scheme Launch: July 2002 Bloomberg: SUNSMIG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim



Fertilisers & Chemicals

Auto Ancillaries

IT

Real Estate


Consumer Goods


Indraprastha Gas

IPCA Labs

MphasiS BFL

M & M Financial

Trent

Yes Bank

Tata Chemicals

Jain Irrigation Systems

Titan Industries

Federal Bank

Sector Profile (%)

FinancialServices

22.0

ConsumerGoods15.9

Fertilisers &Chemicals

11.9

Pharma6.2

Industrial

Manufacturing4.4

Others19.5

Fixed Income1.9

Cash6.8

AutoAncillaries

6.6

IT4.8

Portfolio

Security Weight %


Select Mid Cap has completed eight years as

a dedicated mid-cap fund sporting an

acclaimed track record and outpacing the

benchmark comfortably since launch in July

2002. The weighted-average market cap and

median market cap, as always, well below

complete on an average lower by 60%-70%

since launch as compared to the permitted

threshold - indicating the genuine and

complete mid-cap orientation of the fund.

This style integrity, which has been

maintained since launch in 2002, and thetrack record places the fund as an appropriate

vehicle for defined asset allocation decision

by investors. The fund has an equity

allocation level at about 92%. Top sectors by

allocation are financial services, consumer

goods and fertilizers & chemicals, which

account for about 50%.of assets.

Indraprastha Gas 4.3IPCA Labs 4.2MphasiS BFL 3.6M & M Financial 3.5Coromandel Fertilizers 3.5IndusInd Bank 3.3Trent 3.3United Phosphorus 3.2LIC Housing 3.0Tata Global Beverages 2.8

Bank of India 2.8Spicejet 2.7SRF 2.7Canara Bank 2.6United Spirits 2.6FAG Bearings 2.5R E C 2.3Bosch 2.3Videocon Industries 2.2E.I.D Parry 2.2

Gujarat Alkalies 2.1Petronet LNG 2.1Aurobindo Pharma 2.0Bajaj FinServ 2.0Dish TV 2.0Jyothy Laboratories 1.9Siemens India 1.7Madhucon Projects 1.7Maharasthra Seamless 1.7Escorts 1.7

Monnet Ispat 1.5Sterlite Optical 1.4Simplex Infrastructure 1.3Satyam Computers 1.2I D F C 1.1Exide 1.0Trent-Cul. Pref. Shares 0.9Indian Bank 0.8IVRCL Infra 0.7Kirloskar Electric 0.6

Apollo Tyres 0.5Himadri Chemicals 0.5Lanco Infratech 0.4ING Vysya Bank 0.3

Rico Auto 0.3Central Bank of India 0.2Indian Hotels 0.2IDBI Bank 0.2

Equity 91.4Derivatives Fixed Income 1.9Cash / Others 6.8




Benchmark BSE Mid-Cap Index



Since Inception Returns 35.7% 23.9


Last 7 years 84,000 2,43,611 1,65,04

Last 5 years 60,000 1,06,986 87,14

Last 3 years 36,000 57,207 51,14

Last 2 years 24,000 40,420 38,22

Last 1 year 12,000 14,141 13,79


Turnover (%) 104


Fund: Rs 1,535 Benchmark: Rs 784 S&P CNX : Rs 6

0

200

400600

800

1000

12001400

1600

1800

Jul-02 Aug-10

FundBenchmarkS&P CNX 500

Positioning: Pure Mid-Cap Fund

Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysiannualised basis using month-end NAVs since launch. The risk free rate is 7.651%

annum based on the upper band of 10 year T-Bill yield.


Alpha 9.61

Correlation 0.96

Tracking Error 10.


Fund Benchmark




Since Inception 1435.3 684.3 40.1 29.0 11

Last 7 years 842.7 381.7 37.7 25.2 12


Last 2 years 65.4 32.3 28.6 15.0 13

Last 1 year 35.7 29.1 35.7 29.1 6


8/32


Sundaram BNP Paribas India Leadership Fund



Services

Auto

Energy - Oil & Gas

Financial Services



Bank of India

Bharti Airtel

Jet Airways

Indian Hotels

Zee Entertainment

Reliance Industries

H D F C

HDFC Bank

State Bank of India


Sector Profile (%)


ConsumerGoods11.0

Auto9.7

Media &Entertainment

8.7

IT8.6

Metals8.2

Services7.7

Others24.0

Cash4.7

Portfolio

Security Weight %

Portfolio Stance: The portfolio focuses on

corporate names that represent leadership

across sectors of the economy; we also seek

out emerging leaders to enhance long-term

performance. The portfolio maintains an

equity exposure of a tad more than 95%. The

portfolio continues to maintain more deviant

sector bets as compared to the benchmark,

S&P CNX Nifty even in index- heavy-

weights such as energy/utilities, energy/oil &

gas and financial services as well as in IT and

engineering. Top sector exposures byallocation are financial services, consumer

goods and Auto, which account for about 38

% of the portfolio. Media & Entertainment is

the most active positive exposure relative to

the benchmark at end August and energy (oil

& gas), the most negative relative to the

benchmark.

Bharti Airtel 6.0

ICICI Bank 5.0

T C S 4.6Bank of India 4.0

Tata Motors 4.0

Infosys 4.0

Axis Bank 3.6

Larsen & Toubro 3.3

Jet Airways 3.3


Indian Hotels 3.1


LIC Housing 2.9

Dr Reddy's Labs 2.8United Spirits 2.6

Bajaj Auto 2.5


IBN18 Broadcast 2.3


Dish TV 2.2

Tata Steel 2.1

Hindalco 2.0

R E C 2.0

Petronet LNG 2.0

Videocon Industries 1.9Nestle India 1.9

IVRCL Infra 1.9

Reliance Infrastructure 1.8

Sesa Goa 1.6


ITC 1.5

Unitech 1.4

Pantaloon Retail 1.4

UltraTech Cement 1.4

G E Shipping 1.3

D B Corp 1.2O N G C 1.2

Equity 95.3

Derivatives

Fixed Income

Cash / Others 4.7



Fund Manager: J Venkatesan; He hasexperience of 19 years and is managing thisfund since January 2008

Benchmark S&P CNX Nifty Index





Last 5 years 60,000 86,523 83,599

Last 3 years 36,000 47,226 44,820

Last 2 years 24,000 33,971 31,826

Last 1 year 12,000 13,500 12,847


23/11/07 55.0 5.50 21.3022

11/02/10 20.0 2.00 12.8673



Turnover (%) 151


Fund: Rs 414 Benchmark: Rs 351 S&P CNX : Rs 3

0

100

200

300

400

500

600

Jul-04 Aug-10

FundBenchmark

S&P CNX 500


Fund Facts: An open-end equity scheme Launch: July 2004 Bloomberg: SUNLEAG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim


Positioning: Diversified Multi-Cap Fund


Since Inception 314.2 251.4 25.9 22.6 3

Last 5 years 123.3 126.5 17.4 17.8 -0


Last 1 year 24.8 15.9 24.8 15.9 8

Past performance may or may not be sustained in future. Returns/investment v

are as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysiannualised basis using month-end NAVs since launch. The risk free rate is 7.651%annum based on the upper band of 10 year T-Bill yield.


Alpha 2.97

Correlation 0.94

Tracking Error 10.


Fund Benchmark



9/32


Sundaram BNP Paribas S.M.I.L.E Fund


23/02/07 20.0 2.00 15.5046

07/12/07 60.0 6.00 23.8655

31/07/09 20.0 2.00 14.0713

26/03/10 30.0 3.00 14.9741


Fund Facts: An open-end equity scheme Launch: February 2005 Bloomberg: SMILEG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim



Auto


Energy - Oil & Gas

Consumer Goods

Fertilisers & Chemicals

Financial Services


TVS Motors

Ashok Leyland

Polaris Software

Kotak Mahindra Bank

Ranbaxy

Crompton Greaves

Shriram Transport

Zee Entertainment

Yes Bank

Asian Paints

Sector Profile (%)


IndustrialManufacturing

13.7

Auto12.0

Pharma10.7Consumer Goods

10.5

EnergyOil & Gas

7.4

Services4.2

Others22.2

Cash3.9

Portfolio

Security Weight %


S.M.I.L.E Fund now sports a five-year track

record with acclaim from independent third-

party outfits. The fund has an equity

exposure of about 96%, a decrease of two

percentage points in August. In line with its

positioning, the fund maintains its tilt

towards mid- and small-cap stocks; it has the

cushion of an up-to-35 per cent allocation to

the large-cap space, but the exposure to this

part of the cap curve is substantially belowthe permitted limit. This coupled with the

median market cap indicates mid- and small-

cap orientation of the portfolio. Top sectors

by allocation now are financial services,

engineering and auto; they account for about

41 per cent of the assets.

TVS Motors 5.6Ashok Leyland 4.9LIC Housing 3.2

Polaris Software 3.1Lupin 2.7Kotak Mahindra Bank 2.7Ranbaxy 2.5Lanco Infratech 2.3H P C L 2.2Bharti Airtel 2.2

O B C 2.2Hindustan Sanitaryware 2.1Hindustan Dorr 2.1Cairn India 2.1Deccan Chronicle 2.0IVRCL Infra 2.0Videocon Industries 1.9DLF 1.9Elgi Equipment 1.9Union Bank of India 1.7

Asian Paints 1.7United Spirits 1.7Orchid Chemicals 1.7Karur Vysya Bank 1.7GVK Power 1.7Kingfisher Airlines 1.7Petronet LNG 1.7Shasun Pharma 1.5G E Shipping 1.5Bajaj FinServ 1.5

Kalpataru Power 1.5Indian Bank 1.5Mahindra & Mahindra 1.4Maharasthra Seamless 1.4Apar Industries 1.4Divis Labs 1.4V Guard Indsutries 1.3

Welspun Gujarat 1.2Pantaloon Retail 1.2Sundaram Fasteners 1.1

Kirloskar Pneumatic 1.1TajGVK Hotels 1.1Easun Reyrolle 1.0McNally Bharat 1.0SKF Bearings 1.0Arvind Mills 0.9BGR Energy 0.9Canara Bank 0.9Vascon Engineers 0.9Adhunik Metaliks 0.9

Torrent Pharma 0.9P R I C O L 0.8KSK Energy 0.8Automotive Axles 0.5Indian Oil Corporation 0.5UTV Software 0.5Nitin Fire 0.4KEI Industries 0.3IBN18 Broadcast 0.2TRF 0.1

Equity 96.1Derivatives Fixed Income Cash / Others 3.9



Fund Manager: S Krishnakumar; He hasexperience of 13 years and is managing thisSmall & Medium Indian Leading Equities(S.M.I.L.E) Fund since December 2006.

Benchmark CNX Mid-Cap Index





Last 5 years 60,000 1,05,455 1,00,625

Last 3 years 36,000 55,223 54,983

Last 2 years 24,000 38,657 39,507

Last 1 year 12,000 13,472 14,221


Turnover (%) 188


Fund: Rs 344 Benchmark: Rs 291 S&P CNX : Rs 2

0

50

100

150

200

250

300

350

400

Feb-05 Aug-10

Fund

Benchmark

S&P CNX 500


Positioning: Multi-Cap (Mid/Small-Cap Bias)


Since Inception 244.2 191.4 25.0 21.3 3

Last 5 years 160.9 137.0 21.1 18.8 2


Last 1 year 25.6 41.9 25.6 41.9 -16

Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysi

annualised basis using month-end NAVs since launch. The risk free rate is 7.651%annum based on the upper band of 10 year T-Bill yield.


Alpha 3.34

Correlation 0.97

Tracking Error 8.


Fund Benchmark



10/32


Sundaram BNP Paribas Equity Multiplier

Fund Facts: An open-end equity scheme Launch: February 2007 Bloomberg: SNDEMUG IN Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minimum Amount: Rs 5,0

SIP/STP: Weekly Rs 1000, Monthly Rs 250, Quarterly Rs 750 Terms of offer: NAV Exit Load: 1% if redeemed within 12 months from date of allotment Disclosures: Page 28 & 29


Energy - Utilities

IT

Financial Services


Consumer Goods

Auto Ancillaries


Indraprastha Gas

Adani Power

Polaris Software

Religare Enterprises

Development Credit Bank

Asian Paints

Crompton Greaves

Shriram Transport

H P C L

Lupin

Sector Profile (%)


Energy-Utilities19.0

Pharma14.1

IT11.6

ConsumerGoods10.6

Energy-Oil & Gas

6.7

Auto3.5

Cash5.0

Others4.1

Fixed Income2.7

Portfolio

Security Weight %

Portfolio Stance: The portfolio of this go-

anywhere fund continues to be spread more

across the cap-curve with enhanced exposure

to the mid- and small-cap space. This is on

account of the valuation differentials, which

have, however, narrowed over the past

month. The overall stance is, however, more

defensive as has been the case in recent

months. The fund has allocation in equity of

about 92%. Top sectors by allocation are

financial services, energy-utilities andpharma, which collectively account for about

56% of the portfolio. The sector exposure of

about 26% in energy (oil & gas and utilities)

stays spread across several stocks, which has

been the approach to this space for almost a

year now.


Adani Power 6.6

Polaris Software 5.7

Religare Enterprises 5.6

CESC 4.8

Development Credit 4.5

3-I Infotech 4.2

Torrent Pharma 4.0

Cadila Healthcare 4.0


Cairn India 4.0

Tata Motors 3.5


Biocon 3.3

IndusInd Bank 3.3

IndiaInfoline 3.3

Havell's India 3.1

Bajaj FinServ 2.8

Glenmark Pharma 2.8

Petronet LNG 2.7

Dish TV 2.1

OnMobile Global 2.0

I D F C 1.8

Satyam Computers 1.8

O B C 1.0

IDBI Bank 0.5

Equity 92.3

Derivatives

Fixed Income 2.7

Cash / Others 5.0


Median Market Cap: Rs 7, 032 crore


Benchmark CNX Mid-Cap Index


20/12/07 30.0 3.00 16.4246



Turnover (%) 140


Fund: Rs 143 Benchmark: Rs 172 S&P CNX: Rs 1

0

50

100

150

200

250

Feb-07 Aug-10

FundBenchmark

S&P CNX 500

Positioning: Diversified Equity Fund



Alpha -4.32

Correlation 0.92

Tracking Error 15.

Information Ratio -0.

Fund Benchmark




Since Inception 42.8 71.8 10.7 16.7 -6

Last 3 years 27.5 43.6 8.4 12.8 -4

Last 2 years 33.8 52.3 15.7 23.4 -7Last 1 year 18.4 41.9 18.4 41.9 -23


11/32


Sundaram BNP Paribas Select Small Cap

Fund Facts: An closed-end equity scheme Launch: February 2007 Bloomberg: SNDSMAG IN Options: Growth, Dividend Pay Out Exit Load: 1% (March 2010-Feb 2011) & 0.5% (March 2011-Feb 20

Unamortised initial issue expenses will also be deducted. Disclosures: Page 28 & 29


Auto Ancillaries

Auto

Real Estate


IT

Textiles


Wabco TVS

TVS Motors

Rallis India

Sundaram Clayton

Magma Fincorp

SpiceJet

Dhanlaxmi Bank

City Union Bank

Raymond

JMD Telefilms

Sector Profile (%)

Auto Ancillaries19.7


14.1

Services6.6

6.7Auto6.0


Pharma5.6

Others25.8

Fixed Income2.7

Cash6.9

Fertilisers &Chemicals

Portfolio

Security Weight %

Portfolio Stance: The portfolio stays at the

lower end of the band of about 40-50 stocks

with enhanced allocation to higher

conviction ideas. The top 10 stocks account

for 44% of the portfolio. The allocation to

equity is about 90%. Top sectors in terms of

allocation are auto components, engineering

and fertilizers & chemicals accounting for

about 41% of the portfolio. The weighted-

average market cap and median market cap

are significantly lower as compared to the

permitted threshold of the 100th stock,

indicating the true small-cap orientation of

the portfolio; this style integrity has been

maintained since launch.

Wabco TVS 7.6

TVS Motors 6.0

Rallis India 4.5Magma Fincorp 4.5

Sundaram Clayton 4.4

Amara Raja 4.3

Elgi Equipment 3.4

Ess Dee Aluminium 3.3

Nav Bharat Ventures 3.1

Havell's India 2.9


Sun Advanced Research 2.7

J Kumar Infra 2.7

Vascon Engineers 2.6

Bata India 2.5

Ceat 2.3Time Technoplast 2.1


Orchid Chemicals 2.0

Suprajit Engineering 1.9

Hindustan Dorr 1.9

Apar Industries 1.7

Lancor Holdings 1.4

Texmaco 1.4

Cox & Kings 1.3

Grindwell Norton 1.2

PSL Holdings 1.2

Rico Auto 1.1

Technofab Engineering 1.1Geodesic Information 0.9

J K Cements 0.9

Shilpa Medicare 0.9

JBF Industries 0.9

Electrosteel Castings 0.8

Diamond Cables 0.8

Karuturi Networks 0.8

Praj Industries 0.8

Puravankara Projects 0.7

ING Vysya Bank 0.6

Easun Reyrolle 0.5

Aurionpro Solutions 0.5

KEI Industries 0.5Emkay Global 0.4

Gruh Finance 0.4

Equity 90.4

Derivatives

Fixed Income 2.7

Cash / Others 6.9




Benchmark BSE Small-Cap Index


Turnover (%) 66



0

50

100

150

200

250

Feb-07 Aug-10

Fund

Benchmark

S&P CNX 500


Positioning: Pure Small-Cap


Since Inception 39.0 33.0 9.8 8.4 1

Last 3 years 30.5 18.4 9.3 5.8 3

Last 2 years 61.7 38.4 27.2 17.7 9Last 1 year 37.8 36.4 37.8 36.4 1



Alpha -0.18

Correlation 0.98

Tracking Error 12.

Information Ratio -0.

Fund Benchmark

Mean 17.22 19.76Standard Deviation 40.57 49.39

Beta 0.81 1.00Sharpe Ratio 0.24 0.25Sortino Ratio 0.36 0.39Treynors Index 11.89 12.11

Performance Snapshot

9.2

8.4

9.8

S&P CNX 500

Benchmark

Fund

Returns in percentage since launch


12/32


Sundaram BNP Paribas Select Thematic FundsRural India Fund

Sector Profile (%)

ConsumerGoods22.4

FinancialServices

21.5

Fertilisers & Chemicals19.9

Others7.6

Auto12.8

Telecom4.9

Media &

Entertainment4.8


3.8

Cash2.4

Portfolio Profile (%)

Thematic97.6

Cash2.4


Alpha 1.69 Correlation 0.

Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysiannualised basis using month-end NAVs since launch. The risk free rate is 7.651%annum based on the upper band of 10 year T-Bill yield.Turnover (%) 60

Fund Facts: An open-end equity scheme Launch: May 2006 Bloomberg: SNDRUIG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim


Fund S&P CNX 50

Mean 15.98 14.84

Standard Deviation 34.13 34.95Beta 0.92 1.00Sharpe Ratio 0.24 0.21Sortino Ratio 0.33 0.27Treynors Index 9.02 7.19

Value of Rs 1000-a-month SIPPeriod Investment Fund Benchma


Since Inception Value 51,000 68,511 69,557

Last 3 years 36,000 47,640 47,265

Last 2 years 24,000 35,141 34,108

Last 1 year 12,000 13,897 13,126

NAV (Growth): Rs 15.3969 NAV (Dividend): Rs 14.02



0

50100

150

200

250

May-06 Aug-10

Fund

Benchmark

S&P CNX 500

Portfolio

Security Weight %

Portfolio Stance: The fund maintains the

now-consolidated portfolio of about 35-40

stocks. The top ten exposures now account

for about 44% of the assets. The portfolio

maintains a close-to-fully invested status

with equity exposure at about 98% of the

assets. The portfolio now has an almost-

complete tilt to stocks of companies geared

to rural spending and hence the performance

will not track the benchmark designated for

regulation purposes. The portfolio is geared

to the rural prosperity theme. There are no

major changes in the preferred sectors except

a reduction in allocation to engineering,

pharma and increase in telecom. Consumer

goods, fertilisers & chemicals, financial

services (mostly PSU banks) and auto

account for about 77% of the portfolio. The

portfolio stays spread across the cap curve,

as has generally been the case.


Tata Motors 5.0

Jain Irrigation 5.0Bharti Airtel 4.9


SKS Micro Finance 4.1


Coromandel Fertilizers 4.0

R E C 3.9

G S F C 3.7

M & M Financial 3.5


Bajaj Auto 3.3

Tata Chemicals 3.1

Dish TV 2.8Karuturi Networks 2.7


Nestle India 2.4

Escorts 2.3

Asian Paints 2.2

Bank of India 2.0

ITC 1.9

IVRCL Infra 1.9

Dr Reddy's Labs 1.6

Chambal Fertilisers 1.6

Nagarjuna Fertilisers 1.6

Bajaj Electricals 1.5

United Spirits 1.4

Lupin 1.4

McLeod Russel 1.3

Zuari Industries 1.3

K S Oils 1.3



D B Corp 1.0

Kalpataru Power 1.0

Heritage Foods 1.0

Advanta 0.6KEC International 0.6

Equity 97.6

Derivatives

Fixed Income

Cash / Others 2.4

Number of Stocks 39

Weighted Average Market Cap: Rs 28,163 crore


Fund Manager: J Venkatesan; He hasexperience of 19 years and is managing thisfund since its launch in May 2006.


Fund Size: Rs 252 crorePositioning: Rural Prosperity

Performance Change in NAV (%) Returns (%)

Period Fund Benchmark CNX 500 Fund Benchmark CNX

Since Inception 54.0 47.9 44.9 10.5 9.5 9.0

Last 3 years 20.1 22.5 22.2 6.3 7.0 6.9

Last 2 years 24.6 29.4 30.0 11.6 13.8 14.0Last 1 year 30.3 20.6 18.1 30.3 20.6 18.


13/32


Sundaram BNP Paribas Select Thematic FundsCAPEX Opportunities-Growth CAPEX Opportunities-Dividend

PortfolioSecurity G D

Fund Size (G): Rs 513 crore

Fund Size (D): Rs 481 crore

Turnover (%) 110 123

Fund Facts: An open-end equity scheme Launch: September 2005 Bloomberg: SUNCAPG IN SUNCAPD IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investm

Minimum Amount: Rs 5,000 SIP/STP: Weekly Rs 1000, Monthly Rs 250, Quarterly Rs 750 Terms of offer: NAV Exit Load: 1% if redeemed within 12 months from date of al lotment Disclosures: Page 28 & 29


19/10/07 40.0 4.00 23.4271

19/06/09 20.0 2.00 14.8899

25/09/09 10.0 1.00 15.1334

05/03/10 25.0 2.50 15.4664


Sector Profile and Portfolio Profile are based on Growth Option of the scheme.

Sector Profile (%)


58.9Energy-Utilities

9.4

Services7.7

Construction5.7

Consumer Goods5.6

Cash1.6

Energy-Oil & Gas3.4


Others4.7


0

10

20

30

40

50

60

70

80

90

100

Oct-05 Aug-10

Portfolio Stance: The fund maintains an

allocation to equity at about 98% of the

assets, almost the same level as of end July.

The funds mandate is to focus on

beneficiaries of infrastructure/capex spend

story in India under normal circumstances.

The fund maintains its exposure to

engineering and construction at about 65%.

The fund has used the enabler of investing

outside the theme up to 30% only to a

modest extent since its launch as is clear

from the graphic on the right panel. At theend of last month, the exposure was less than

10%, which is in close to the long-term trend

in the fund. The portfolio has had a mid- and

small-cap tilt, as valuation differentials stay

attractive despite having narrow recently and

given the nature of the universe of stocks

tracking the theme,

Weighted Average Market Cap: Rs 18,514 crore


Fund Manager: Srividhya Rajesh; She hasexperience of 14 years and is managing thisfund since its launch in September 2005.

Benchmark BSE Capital Goods Index

Positioning: Capex/Infrastructure



Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysiannualised basis using month-end NAVs since launch. The risk free rate is 7.651%

annum based on the upper band of 10 year T-Bill yield.

Fund S&P CNX 50






Last 3 years 36,000 47,364 45,959

Last 2 years 24,000 34,679 33,993

Last 1 year 12,000 12,889 12,742




050

100150200250300350400450

Sep-05 Aug-10

FundBenchmark

S&P CNX 500



Since Inception 154.8 194.5 98.8 20.9 24.5 15.0

Last 3 years 17.5 8.2 22.2 5.5 2.7 6.9

Last 2 years 33.6 22.2 30.0 15.6 10.5 14.0Last 1 year 15.8 10.4 18.1 15.8 10.4 18.

I Cash & Cash Equivalents I Infrastructure Spenders

I Non Thematic I Capex Providers

Larsen & Toubro 6.5 8.3Siemens India 3.8 3.6

Crompton Greaves 3.6 3.6Spicejet 3.3 3.0Hindustan Dorr 3.3 3.3B H E L 3.2 3.3Indraprastha Gas 3.0 2.9Areva T & D 2.9 2.7McNally Bharat 2.7 2.6Alstom Power 2.4 2.4

Bharat Electronics 2.3 2.2TRF 2.3 2.2Lanco Infratech 2.3 2.2J Kumar Infra 2.1 2.1A C E 1.9 1.9Bajaj Electricals 1.9 1.9Cummins India 1.9 1.8Power Trading 1.9 2.0Sadbhav 1.9 1.9

Gujarat Petronet 1.9 1.8KEC International 1.9 2.0Texmaco 1.8 1.6Nitin Fire 1.7 1.9Ahluwalia Contract 1.7 1.8Honeywell 1.7 1.9Thermax 1.6 1.6H C C 1.6 1.6Torrent Pharma 1.6 1.5I D F C 1.6 1.7Elecon Engineering 1.5 1.5

Welspun Gujarat 1.5 1.4Petronet LNG 1.5 1.5Kalpataru Power 1.4 1.4Reliance Infrastructure 1.4 1.3KSK Energy 1.4 1.4

Aegis Logistics 1.4 1.3Patel Engineering 1.3 1.3Atlas Copco 1.3 1.3GVK Power 1.2 1.3BGR Energy 1.2 1.2

R E C 1.2 1.2Adani Enterprises 1.2 1.1AIA Engineering 1.1 0.8Kingfisher Airlines 1.0 1.0Voltas 1.0 1.0Engineers India 1.0 1.0Havell's India 0.9 0.6G E Shipping 0.8 0.8Aban Loyd Chiles 0.7 0.7Triveni Engineering 0.6 0.3

Adhunik Metaliks 0.6 0.6IVRCL Infra 0.5 0.5

Lloyd Electric 0.5 0.6Eicher Motor 0.5 0.5IndiaBulls Real 0.5 0.5K Bros Investment 0.4 0.4Greaves Cotton 0.1 0.1Sadbhav Rights 0.1 0.1

Equity 98.4 98.1Derivatives Fixed Income Cash / Others 1.6 1.9

Number of Stocks 58 58


14/32


Sundaram BNP Paribas Select Thematic FundsEnergy Opportunities

Fund Facts: A closed-end equity scheme Launch: January 2008 Bloomberg: SNDENGG IN Options: Growth, Dividend Pay Out Exit Load: Nil Redemption Price: NAV less unamortized initial issue expen

Disclosures: Page 28 & 29

Sector Profile (%)

Energy-Oil & Gas

34.0


Metals12.9


Services3.5

Consumer Goods2.9 Others

2.9

Cash3.4


12.0


010

2030

40506070

80

90100

Jan-08 Aug-10


Alpha -0.19 Correlation 0.


Fund S&P CNX 50

Mean 1.27 1.15

Standard Deviation 38.82 39.34Beta 0.95 1.00Sharpe Ratio -0.16 -0.17Sortino Ratio -0.27 -0.24Treynors Index -6.70 -6.50



Fund: Rs 86 Benchmark: Rs 75 S&P CNX: Rs

2030

405060708090

100110120

Jan-08 Aug-10

FundBenchmark

S&P CNX 500

Portfolio

Security Weight %

Portfolio Stance: The fund continues to be a

fully invested portfolio with an equity

allocation of about 97%. The portfolio is

geared to play the emerging energy-

landscape theme in India that is likely to be a

drawn out process. The portfolio is spread

across the large-cap and mid- and small-cap

spaces now. The fund continues to maintain

a higher allocation in mid and small-cap

stocks as valuation differentials stay in

favour; the allocation is about 52%. The

portfolio is aligned to our thought process on

the emerging energy-linked landscape. Weremain positive on long-term prospects of the

theme in India with improving clarity on

account of a gradual removal of legal hurdles

that had blocked pricing progress. Policy

initiatives on the gas pricing front have also

been encouraging over the past two months

and industry environment appears to getting

greater clarity.

O N G C 7.9Cairn India 7.8

Reliance Industries 4.7Maharasthra Seamless 4.4

G A I L 4.0B P C L 3.9

Indian Oil Corporation 3.8


Gujarat Petronet 3.4

Adani Power 3.4

Petronet LNG 3.3

Videocon Industries 2.9

Lanco Infratech 2.9

Adani Enterprises 2.9

GVK Power 2.7

Siemens India 2.5Gujarat Gas 2.3

Welspun Gujarat 2.2

G M D C 2.2CESC 2.0

B E M L 1.9

ICICI Bank 1.8

Larsen & Toubro 1.7

R E C 1.6Oil India 1.6

Jindal Steel 1.4

TRF 1.4

Jaiprakash Hydro-Power 1.3

PSL Holdings 1.0H P C L 1.0

KSK Energy 1.0

I D F C 0.9

Ashok Leyland 0.9

Patel Engineering 0.9Hindalco 0.9

Jyoti Structures 0.8

JSW Energy 0.8

Sterlite Industries 0.8Cummins India 0.7

Seamec 0.7

G S F C 0.5

TVS Motors 0.3Tata Chemicals 0.2Engineers India 0.1

Hindustan Dorr 0.1

Equity 96.6

Derivatives

Fixed Income Cash / Others 3.4



Fund Manager: S Krishnakumar; He hasexperience of 13 years and is managing thisfund since its launch in January 2008.

Benchmark BSE Oil & Gas Index

Fund Size: Rs 1,634 crorePositioning: Energy



Since Inception -14.2 -25.3 -15.7 -5.6 -10.4 -6.2

Last 2 years 18.1 2.7 30.0 8.7 1.3 14.0

Last 1 year 4.2 1.5 18.1 4.2 1.5 18.

I Cash I Thematic I Non Thematic

Performance Snapshot

-6.2

-10.4

-5.6

S&P CNX 500

BSE Oil & Gas Index

Fund

Returns in percentage since launch


15/32


Sundaram BNP Paribas Select Thematic FundsFinancial Services Opportunities

Allocation: Banks & Financial Services

0

10

20

30

4050

60

70

80

90

100

Jul-08 Aug-10

Allocation: Public Sector & Private Sector

0

10

2030

4050

60

7080

90100

Jul-08 Aug-10

Thematic allocation: 93.7

Non-thematic allocation:

Cash/Others: 6.3

Fund Facts: An open-end equity scheme Launch: June 2008 Bloomberg: SNDFSRG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim




Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysi

annualised basis using month-end NAVs since launch. The risk free rate is 7.651%annum based on the upper band of 10 year T-Bill yield.

Turnover (%) 119

Fund S&P CNX 50






Last 2 years 24,000 40,189 39,044

Last one year 12,000 15,010 14,349




406080

100120140160180200220

Jun-08 Aug-10

FundBenchmarkS&P CNX 500

Portfolio

Security Weight %

Portfolio Stance: The fund is invested to the

extent of 93.7% in equity, decrease of about

two percentage point from the equity levels

in July. The emphasis stays on the banking

and financial services spaces with an

increasingly pronounced bias towards the

former the distribution is at 80% and 13%

respectively. The allocation now also has an

increasingly distinct preference for the PSU

banking space, which has 22 percentage

point preference as compared to the private

sector banking space. The portfolio iscompletely within the theme. A cautious

approach during the turbulence of 2008,

complete participation in the rally since

March 2009 and adequate profit booking

during the rally has enabled the fund outpace

the broad market by a comfortable margin

since launch.


ICICI Bank 9.0


Axis Bank 6.7

O B C 5.3

Bank of Baroda 4.4

Corporation Bank 4.3


LIC Housing 4.0

Bank of India 3.9

HDFC Bank 3.6

Canara Bank 3.2

Indian Bank 3.1

R E C 3.1

IndusInd Bank 3.0

M & M Financial 2.0

Yes Bank 2.0

Kotak Mahindra Bank 1.9

H D F C (Warrants) 1.9

Allahabad Bank 1.8

SKS Micro Finance 1.5

Central Bank of India 1.5

ING Vysya Bank 1.5

Dena Bank 1.3

Magma Fincorp 1.0

I D F C 0.8

Bajaj FinServ 0.6

Jammu & Kashmir Bank 0.5

Religare Enterprises 0.4

Equity 93.7

Derivatives

Fixed Income

Cash / Others 6.3



Fund Manager: J Venkatesan; He hasexperience of 19 years and is managing thisfund since its launch in June 2008.

Benchmark CNX Banks Index

Fund Size: Rs 237 crorePositioning: Financial Services



Since Inception 99.6 84.8 27.1 36.4 31.8 11.4

Last 2 years 98.0 76.1 30.0 40.7 32.7 14.0

Last one year 49.1 44.6 18.1 49.1 44.6 18.

I Cash I Public Sector I Private Sector

I Cash I Banks I Financial Services


12/06/09 10.0 1.00 12.8580

06/11/09 20.0 2.00 14.0743



16/32


17/32


Sundaram BNP Paribas Select Thematic FundsPSU Opportunities

Fund Facts: An open-end equity scheme Launch:January 2010 Bloomberg: SNDPSUG IN Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minimum Amount: Rs 5,000 SIP/S

Weekly Rs 1000, Monthly Rs 250, Quarterly Rs 750 Terms of offer: NAV Exit Load: 1% if redeemed within 12 months from date of allotment Disclosures: Page 28 & 29

Sector Profile (%)

FinancialServices

37.3

Energy-Oil & Gas22.3


Metals7.1

Industrial

Manufacturing6.1

Services1.7

5.1

Fertilisers &Chemicals Cash

1.3


Theme98.7

Cash1.3




Fund S&P CNX 50

Mean 19.76 4.23Standard Deviation 10.57 12.78Beta 0.69 1.00Sharpe Ratio 1.15 -0.27Sortino Ratio 2.22 -0.36Treynors Index 17.54 -3.42








80

90

100

110

120

Jan-10 Aug-10

Fund

Benchmark

S&P CNX 500

Portfolio

Security Weight %

Portfolio Stance: The funds equity exposurehas increased by about 3 percentage pointsfrom July and is at its highest level sincelaunch at 99%. The fund has moved to aclose-to-fully invested status in a phasedmanner based on market conditions. In linewith the positioning, the portfolio is almostentirely invested in stocks of public sectorundertakings (PSUs). The portfolio has adistinct large-cap tilt, which is an intrinsicfeature of the PSU space. The top sectors byallocation are financial services, oil & gasand utilities. This, too, is in line with broad

profile of the PSU universe. PSU stocks aregeared to the India story due to a strongpresence in high growth sectors such asfinancial services, oil & gas, engineering andmaterials space; they are almost absent insectors such as consumer staples, pharma,telecom and information technology. Theportfolio of the fund is geared to the highgrowth sectors of the Indian economy.

O N G C 7.6


R E C 5.3


S A I L 4.4

N T P C 4.3

Bank of Baroda 4.2

H P C L 4.1

G A I L 4.0

G S F C 4.0

B P C L 3.9

Petronet LNG 3.8Power Trading 3.7

Power Finance Corp 3.4

Gujarat Petronet 3.4

LIC Housing 3.2

Canara Bank 3.2

Bank of India 3.0

Bharat Electronics 2.9

O B C 2.9

Indian Oil Corporation 2.6

Engineers India 2.2

N M D C 2.1

N H P C 1.8

Container Corp 1.7

Power Grid 1.5

Gujarat Alkalies 1.1

B E M L 1.0

G M D C 0.6

Oil India 0.4


Equity 98.7

Derivatives

Fixed Income

Cash / Others 1.3



Fund Manager: J Venkatesan; He hasexperience of 19 years and is managing thisfund since its launch in January 2010.

Benchmark CNX PSE Index

Fund Size: Rs 512 crorePositioning: Public Sector



Since Inception 13.6 -6.3 2.4 13.6 -6.3 2.4


18/32


Performance

Fund Weight %

Emerging Markets

BlackRock Merrill Lynch Emerging Europe 8.4

Nevsky Eastern European 6.7

DB Tracker Emerging Markets Asia 17.0

Fidelity South East Asia 16.1

Schroders Emerging Asia 10.1

DB Tracker Latin America 8.8

Parvest Latin America 7.3

Real Estate (Funds owning stocks of real estate companies, not real estate)

Morgan Stanley Asian Property 5.2

Morgan Stanley Global Property 3.2

Commodities (Funds owning stocks of commodity companies, not commodities)

Parvest Global Resources 8.2

Martin Currie Global Resources 5.7

Allocation to funds 96.7

Cash 3.3

Asset Class/Geography Neutral CurrentEmerging Markets

Asia 40.0 43.3

Latin America 15.0 16.0

Eastern Europe 15.0 15.1

Commodity Funds 15.0 13.9

Real Estate Funds 15.0 8.4

Cash 0 3.3

Sundaram BNP Paribas Global Advantage

Portfolio Stance: The allocation to Emerging Europe

is at a neutral level of 15%. Exposure to Latin

America has been slightly increased taking

advantage of the upward trend and the rise in the value

of the real and is now at 16%. The portfolio now has

a neutral stance to Asia, Latin America and Emerging

Europe; the allocation to emerging markets as an asset

class has, however, been raised to a deep overweight

by adding to exposures to a global emerging markets

fund. The portfolio is overweight emerging markets,

neutral on commodities (despite addition of two new

funds and exit of a major exposure) and underweight

real estate.

100% in global markets (an India allocation is

possible based on outlook)

Actively managed diversified multi-manager

portfolio

Advisor is FundQuest, a BNP Paribas InvestmentPartner

Exposure to multiple asset classes through mutual

funds & exchange-traded funds

Allocation across global emerging equities,

commodities & real estate.

Exposure in ETFs that track an index of companies

in the real estate business and in commodities and not

an index that tracks real-estate and commodities

directly

Active bets within each asset class based on economy

& market outlook

Complementary strategies to lower volatility and

fund manager risk

Emerging Markets: Neutral 70% Minimum 60%

Maximum 100%

Real Estate: Neutral 15% Minimum 0%

Maximum 40%

Commodities: Neutral 15% Minimum 0%

Maximum 40% Funds owning stocks of commodity companies and funds owning stocks of real estate companies are uto invest in the respective asset classes.

Past performance may or may not be sustained in future. Computed using NAV of Growth Option on compounded annul basis.

Positioning: Thematic-Overseas Investme

Change in NAV Returns

Period Fund Benchmark Fund Benchmark Excess

% % % % % pointINR

Since Launch 4.3 6.9 1.4 2.2 -0.8

Last 2 years 5.9 8.7 2.9 4.2 -1.3

Last 1 year 9.6 11.3 9.6 11.3 -1.7

USD

Since Launch -9.3 -6.7 -3.2 -2.3 -0.9

Last 2 years -1.2 1.4 -0.6 0.7 -1.3

Last 1 year 13.8 15.6 13.8 15.6 -1.8

Fund Advisor:Fund Quest, a member of

BNP Paribas Investment Partners

Salient Features

Fund Manager: S Bharath

Fund-of-Funds Portfolio

Fund Facts: Open-end fund-of-funds scheme Launch: September 2007 Bloomberg: SNDGADG IN Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minimum Amount: Rs 5

SIP/STP: Weekly Rs 1000, Monthly Rs 250, Quarterly Rs 750 Terms of offer: NAV Exit Load: 1% if redeemed within 12 months from date of allotment Disclosures: Page 28 & 29

Benchmark MSCI Emerging Markets Ind

Fund Size: Rs 87 cro


Asset Allocation (%)


19/32


Sundaram BNP Paribas Balanced Fund

Weighted Average Market Cap: Rs 34,886 croreMedian Market Cap: Rs 13,907 crore

Weighted average market-cap and median market-cap

are based on the equity component of the portfolio

Fund Facts: An open-end hybrid scheme Launch: June 2000 Bloomberg: SNDBALG IN Plans: Regular, Institutional Options: Growth, Dividend Pay Out, Dividend Sweep, Dividend Re-Investment Minim


Average Maturity 5.23 Years

uration 3.19 Years

Debt Portfolio YTM 6.41%

Allocation (%)


ConsumerGoods13.4

IT8.6

Auto7.9

Pharma

5.7

Energy-

Oil & Gas5.5

Services4.5

Energy-Utilities

3.7

Fixed Income29.4

Cash1.7

Sector Profile (%)

Equity68.9

GovernmentSecurities

14.4

Certificate ofDeposits

2.6

Cash /Others

Corporate Bonds12.4

1.7



Since Inception Returns 18.8%

Since Inception Value 1,22,000 3,34,880

Last 7 years 84,000 1,50,714 1,36,435

Last 5 years 60,000 86,319 80,474

Last 3 years 36,000 46,968 43,413

Last 2 years 24,000 32,411 29,548

Last 1 year 12,000 13,099 12,678


14/12/07 30.0 3.00 22.4805

08/05/09 15.0 1.50 12.6517

11/09/09 10.0 1.00 15.2120




Fund: Rs 476 Benchmark: Rs 3

0

100

200

300

400

500

600

Jun-00 Aug-10

Fund

Benchmark



Since Inception 376.0 16.5

Last 7 years 244.0 184.2 19.3 16.1 3


Last 2 years 35.5 25.0 16.4 11.8 4

Last 1 year 21.8 12.6 21.8 12.6 9

Portfolio Stance: The fixed-income portion

of the fund is largely invested in the

government securities to take advantage of

the yields moving down in the coming

months. Incrementally we intend to trade on

the G-Sec portion of the fund and hold bonds

and money market instrument for accrual

income. The equity component accounts for

about 69% of the assets and is spread across

the cap curve and sectors.

Equity 68.9

TVS Motors 7.9

ITC 7.0


T C S 6.0

H D F C 5.5

Cairn India 5.5

ING Vysya Bank 5.1

Lupin 4.9

Yes Bank 4.7


I D F C 4.3

Power Trading 3.7


Shasun Pharma 0.8

Government Securities 14.4

7.80% 2020 10.0

8.13% 2022 3.9

6.35% 2020 0.6

Certificate of Deposits 2.6

O B C 2.6

Corporate Bonds 12.4


P F C 4.7

Cash / Others 1.7


Benchmark CRISIL Balanced Fund Index

Fund Size: Rs 64 crorePositioning: Balanced Portfolio

PortfolioSecurity Weight %

Past performance may or may not be sustained in future. Returns/investment vare as of August 31, 2010. Returns are on a compounded annual basis and compuusing NAV of Growth Option. SIP values are in rupees. Performance Analysiannualised basis using month-end NAVs since launch. Excess Returns Performance Analysis are with reference to the broad market index S&P CNX 5The risk free rate is 7.651% per annum based on the upper band of 10 year T-Bill y


Alpha 3.93

Correlation 0.94

Tracking Error 7.


Fund S&P CNX 50



20/32


Portfolio

Security Rating Weight %

Portfolio Stance: MIP (Moderate): A large part of the portfolio on the Fixed Income part aims at generatingaccrual income and takes some trading calls in short-term papers and government securities. Equity accountsabout 9.4% of assets in the Moderate Plan and is invested mostly in large-cap stocks in the Moderate Plan.

MIP (Aggressive): The fixed income portion of the portfolio will aim to decrease exposure to money marinstruments and increase exposure to government securities as the yields on the longer end of the curve increaThe equity exposure is via dedicated large-cap and mid-cap funds with a track record of more than eight year

MIP (Conservative): The debt portion of the portfolio is targeted at higher accruals and would endeavor

maintain an average duration of less than a year on the Fixed Income portfolio. The equity exposure is dedicated large-cap and mid-cap funds with a track record of more than eight years.

Positioning: Income Plus

Sundaram BNP Paribas Monthly Income Plan

Past performance may or may not be sustained in future. Computed using NAV of Growth Option on compounded annual basis.

Government Securities 1.2

6.35% - 02/01/2020 GSEC 1.2


Oriental Bank of Commerce P1+ 13.1

Bank of Baroda A1+ 4.9

Commercial Paper 13.6

IL&FS Financial Services A1+ 13.6


ICICI Securities AAA 10.0

Mahindra & Mahindra AA+ 8.4

Reliance Capital AAA 8.4TATA Communications AAA 8.4

Aditya Birla Nuvo AA+ 6.1

TATA Capital LAA+ 4.2

Power Finance Corporation AAA 3.4

Kesoram Industries AA 2.5

IL & FS Financial Services A1+ 1.7

Equity 9.4


Bharti Airtel 1.9

L & T 1.8

Crompton Greaves 1.6

Reliance Industries 1.5Reverse REPO / CBLO 1.4

Cash, Call & Net Current Assets 3.4


O B C P1+ 13.9

Canara Bank P1+ 11.7

Jammu & Kashmir Bank P1+ 10.4

South Indian Bank PR1+ 5.0

Kotak Mahindra Bank P1+ 4.5

ICICI Bank A1+ 2.4


Reliance Capital AAA 9.5Tata Communications AAA 5.7

ICICI Securities AAA 4.7

Aditya Birla Nuvo AA+ 2.5

IL&FS Financial Services A1+ 2.4

Tata Capital LAA+ 1.9

HCL Technologies LAA+ 0.5

Mutual Funds 16.1

Sundaram BNP Paribas Select Focus 7.8

Sundaram BNP Paribas Select Mid Cap 8.3

Reverse REPO / CBLO 6.9

Cash, Call & Net Current Assets 2.0

Not an assured income scheme


ICICI Bank A1+ 13.8

Canara Bank P1+ 13.0

Documents

InvestMap Fact Sheet August 2010