Mr. Sanjay Chawla · Mr. Sanjay Chawla& (Experience 29 Years) AAUM & AUM AAUM 677.53 Crs AUM 681.01 Crs Standard deviation 13.81% Sharpe@ 0.13 Beta 0.99 Portfolio Turnover (last 12

2

Dear Investors,

Warm Greetings!

Stock markets were up by 0.5% during May 2018. YTD markets are up by 4% now. Midcap and small cap indices corrected further during the month. YTD midcap and small cap indices are down by 12% and 19% respectively. Amongst sectors Pharma, Realty, PSU and Auto have underperformed while IT, FMCG and Financial sectors have outperformed. Globally, performance were mixed with emerging markets such as Brazil reporting declines while developed markets were up by around 2%.

India’s real GDP growth picked up to 7.7% in Q4FY18 vs. 7% in Q3FY18 and 6.1% in Q4FY17. A sharp jump in fixed investment (GFCF) growth to 14.4% and 16.8% jump in Govt. expenditure are the two main contributors to higher GDP growth in Q4FY18. Household consumption growth also rose to 6.7% in Q4FY18 from 5.9% in Q3FY18. Construction activities grew 11.5% in Q4 FY18, following 6.6% jump in Q3FY18.

IIP numbers disappointed. IIP for March grew to 4.4%, a sharp moderation from the 7% plus growth clocked in the past four months. The slowdown was largely on the manufacturing front, which slowed from past four months’ average of 9.0% to 4.4%. Electricity and mining remained largely stable 3% and 6%, respectively. Part of the moderation is clearly base effect led, but manufacturing growth was subdued even on month on month basis.

CPI inflation rose from 4.3% in Mar’18 to 4.6% in Apr’18, led by uptick in services inflation, which surged from 4.2% in Mar’18 to 5.0% in Apr’18. Key highlight is Core inflation (excl. food &fuel) which jumped to 6.1% in Apr’18, a 45-month high, up from 5.3% in Mar’18, mainly led by increase in transport inflation. Food inflation softened from 3.1% in Mar’18 to 3% in Apr’18, pulled down by a sharp decline in prices of vegetable and sugar. Housing inflation further inched up to 8.5% in Apr’18 from 8.3% in Mar’17.

FPIs were net sellers in Indian equities in May with USD765mn of equity outflows during the month, which took their YTD buying down to USD530mn. Mutual funds were net buyers to the tune of USD2bn during the month and YTD buying of USD9bn.

4Q results season is largely over. Nifty PAT declined by 1.3% YoY during 4QFY18. Weakness in earnings was led by accelerated NPA recognition in banks, weakness in Oil & Gas segment, one-offs in few companies and a high base. Ex-financials and Oil & Gas, Nifty PAT increased 9.8% YoY, which is better than expected. Currently, Nifty is trading at PE of 19x for FY19 consensus earnings estimates. As per consensus earnings growth of 21% CAGR may be expected for two years, which could see some moderation going forward. We remain cautiously optimistic on equity markets.

Happy Investing!

Sources : Bloomberg, Economic Times

Mr. Sanjay ChawlaChief Investment Officer

CIO LETTER - MAY 2018

3

INDEX

Title

How To Read Factsheet Pg 4

Baroda Pioneer Multi Cap Fund (formerly known as Baroda Pioneer Growth Fund)

Pg 5

Baroda Pioneer ELSS’ 96 Pg 6

Baroda Pioneer Mid Cap Fund£ Pg 7

Baroda Pioneer Large Cap Fund£ Pg 8

Baroda Pioneer Banking and Financial Services Fund£ Pg 9

Baroda Pioneer Hybrid Equity Fund£

(formerly known as Baroda Pioneer Balance Fund)Pg 10

Baroda Pioneer Conservative Hybrid Fund£

(formerly known as Baroda Pioneer Monthly Income Plan (MIP) Fund)(Monthly income is not assured and is subject to the availability of distributable surplus)

Pg 11

Baroda Pioneer Credit Risk Fund£

(formerly known as Baroda Pioneer Credit Opportunities Fund)Pg 12

Baroda Pioneer Gilt Fund£ Pg 13

Baroda Pioneer Income Fund£ Pg 14

Baroda Pioneer Dynamic Bond Fund£ Pg 15

Baroda Pioneer Short Term Bond Fund£ Pg 16

Baroda Pioneer Treasury Advantage Fund£ Pg 17

Baroda Pioneer Liquid Fund Pg 18

Investment Performance Pg 19

SIP Returns Pg 22

Dividend History Pg 23£ Pursuant to the SEBI circulars issued by SEBI on “Categorisation and Rationalisation of mutual fund schemes”, there has been change in the fundamental attributes of the scheme effective June 6, 2018.

4

How To Read Factsheet?

Fund Manager : An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts.

Application Amount for Fresh Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum Additional Amount : This is the minimum investment amount for an existing investor in a mutual fund scheme.

Yield to Maturity : The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond’s current market price, par value, coupon interest rate and time to maturity.

SIP : SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.

NAV : The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.

Benchmark : A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec.

Entry Load : A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs. 101.

Note : SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor.

Exit Load : Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is Rs 100 and the exit load is 1%, the redemption price would be Rs 99 Per Unit.

Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield

Standard Deviation : Standard deviation is a statistical measure of the range of an investment’s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility.

Sharpe Ratio : The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk.

Beta : Beta is a measure of an investment’s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security’s price will be more volatile than the market.

AUM : AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm.

Holdings : The holdings or the portfolio is a mutual fund’s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.

Nature of Scheme : The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories.

Rating Profile : Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

Macaulay Duration: Is the weighted average term to maturity of the cash flows from an instrument. The weight of each cash flow is determined by dividing the present value of the cash flow by the price. Macaulay duration is a measure of interest rate sensitivity of a Fixed income instrument. Higher the Macaulay duration, higher would be the interest rate risk. Investors may refer to Scheme Information Document of the fund for further details.

5

Baroda Pioneer Multi Cap Fund1

Multi Cap Fund - An open ended equity scheme investing across large cap, mid-cap and small cap stocks. 31st May, 2018

Investment ObjectiveTo generate long term capital appreciation from an actively managed portfolio of equity & equity related instruments.

Plan A 2.67%

Plan B (Direct) 1.78%

Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

September 12, 2003

S&P BSE 200^

` 500/month - 12 Installments` 1500/quarter - 4 Installments

Plan A and Plan B (Direct)

A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout 2. Re-investment (default sub-option in case no option specified by investor) C. Bonus Option$

` 5,000/- & in multiples of ` 1/- thereafter

Entry Load: NA

Exit Load: 1% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units

Mr. Sanjay Chawla&

(Experience 29 Years)

AAUM & AUM

AAUM 677.53 Crs

AUM 681.01 Crs

Standard deviation 13.81%

Sharpe@ 0.13

Beta 0.99

Portfolio Turnover (last 12 months)

0.90

@risk free rate (FBIL Overnight MIBOR) 6.00%

Risk Profile 31 May 2018

Mr. Dipak Acharya


& Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015

Portfolio Portfolio

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21^ For Disclaimer please refer page no 21

Plan A `

Growth 98.78

Dividend 34.15

Plan B - Direct `

Growth 103.66

Dividend 33.99

NAV as on 31 May 2018Riskometer

This product is suitable for investors who are seeking*

• Capital appreciation over long term.

• Investment predominantly in equity and equity related instruments.

* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Top 10 Sectors

1Formerly known as Baroda Pioneer Growth Fund

BANK

Banks18.10%

Finance11.83%

Gas4.82%

Consumer Non

Durables7.31%

Consumer Durables

6.24%

Auto6.80%

Auto Ancillaries

4.99%

Software11.47%

Construction Project4.77%

Industrial Products3.95%

Name of InstrumentsRatings /Industries

% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchangesHDFC Bank Ltd. Banks 7.85%Infosys Ltd. Software 4.52%ICICI Bank Ltd. Banks 4.09%Maruti Suzuki India Ltd. Auto 3.76%Mahindra & Mahindra Financial Services Ltd.

Finance 3.29%

Tech Mahindra Ltd. Software 3.24%

Sun TV Network Ltd.Media & Entertainment

2.69%

SBI Life Insurance Company Ltd.

Finance 2.68%

Kansai Nerolac Paints Ltd.Consumer Non Durables

2.66%

Yes Bank Ltd. Banks 2.64%

Britannia Industries Ltd.Consumer Non Durables

2.61%

Mphasis Ltd. Software 2.59%Indraprastha Gas Ltd. Gas 2.53%Shriram Transport Finance Company Ltd.

Finance 2.46%

Petronet LNG Ltd. Gas 2.29%Whirlpool of India Ltd. Consumer Durables 2.25%Motherson Sumi Systems Ltd.

Auto Ancillaries 2.14%

Titan Company Ltd. Consumer Durables 2.11%Bharat Forge Ltd. Industrial Products 2.10%Godrej Consumer Products Ltd.

Consumer Non Durables

2.04%

Housing Development Finance Corporation Ltd.

Finance 2.03%

Blue Star Ltd. Consumer Durables 1.88%Astral Poly Technik Ltd. Industrial Products 1.85%Reliance Industries Ltd. Petroleum Products 1.76%Engineers India Ltd. Construction Project 1.64%Mahindra & Mahindra Ltd. Auto 1.63%Sadbhav Engineering Ltd. Construction Project 1.62%


% to NetAssets

WABCO India Ltd. Auto Ancillaries 1.57%Sun Pharmaceutical Industries Ltd.

Pharmaceuticals 1.55%

Larsen & Toubro Ltd. Construction Project 1.51%NBCC (India) Ltd. Construction 1.49%The Ramco Cements Ltd. Cement 1.42%Ashok Leyland Ltd. Auto 1.41%Bank of Baroda Banks 1.41%Bharat Financial Inclusion Ltd.

Finance 1.37%

Jindal Steel & Power Ltd. Ferrous Metals 1.35%Apollo Tyres Ltd. Auto Ancillaries 1.28%Security and Intelligence Services (I) Ltd.

Commercial Services 1.16%

Oracle Financial Services Software Ltd.

Software 1.12%

The Federal Bank Ltd. Banks 1.12%Divi's Laboratories Ltd. Pharmaceuticals 1.08%Pidilite Industries Ltd. Chemicals 1.02%State Bank of India Banks 0.99%Grasim Industries Ltd. Cement 0.92%Shree Cement Ltd. Cement 0.80%Bharti Airtel Ltd. Telecom - Services 0.74%Coal India Ltd. Minerals/Mining 0.65%Natco Pharma Ltd. Pharmaceuticals 0.47%Tata Steel Ltd. - Partly Paid Ferrous Metals 0.06%Total 97.44%Margin Fixed DepositsHDFC Bank Ltd. Unrated 0.34%Total 0.34%CBLO / Reverse Repo Investments 2.87%Total 2.87%Cash & Cash EquivalentsNet Receivable/Payable -0.65%Total -0.65%Grand Total 100.00%

6

Baroda Pioneer ELSS’ 96 An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit.

Investment ObjectiveThe main objective of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, 1961.

Plan A 2.77%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

March 31, 1996

S&P BSE 200^



A. Growth Option (default option in case no option specified by investor); B. Dividend Option C. Bonus Option$

` 500/- & in multiples of ` 1/- thereafter

Entry Load: NA

Exit Load: Nil

Mr. Sanjay Chawla&


AAUM & AUM

AAUM 137.61 Crs

AUM 138.87 Crs


Sharpe@ 0.11

Beta 1.02


1.04



Mr. Dipak Acharya


Portfolio Portfolio

Plan A `

Growth 46.56

Bonus 46.56

Dividend 30.24

Plan B - Direct `

Growth 49.62

Bonus 49.62

Dividend 36.16



• Capital growth over long term.

• Investment predominantly in equity and equity related instruments.


Top 10 Sectors

31st May, 2018


$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21^ For Disclaimer please refer page no 21


% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchangesHDFC Bank Ltd. Banks 8.48%


Infosys Ltd. Software 3.55%

Maruti Suzuki India Ltd. Auto 3.54%Mahindra & Mahindra Financial Services Ltd.

Finance 3.51%

Mphasis Ltd. Software 3.17%

ICICI Bank Ltd. Banks 3.09%


Indraprastha Gas Ltd. Gas 2.86%


2.82%

Whirlpool of India Ltd. Consumer Durables 2.68%

V-Mart Retail Ltd. Retailing 2.60%

Petronet LNG Ltd. Gas 2.37%Bharat Financial Inclusion Ltd.

Finance 2.32%

Tamil Nadu Newsprint & Papers Ltd.

Paper 2.29%

Dabur India Ltd.Consumer Non Durables

2.21%

Symphony Ltd. Consumer Durables 2.20%Shriram Transport Finance Company Ltd.

Finance 2.20%

Carborundum Universal Ltd. Industrial Products 2.13%Motherson Sumi Systems Ltd.

Auto Ancillaries 2.12%

WABCO India Ltd. Auto Ancillaries 2.10%

Gulf Oil Lubricants India Ltd. Petroleum Products 2.00%

NBCC (India) Ltd. Construction 1.99%Housing Development Finance Corporation Ltd.

Finance 1.98%

City Union Bank Ltd. Banks 1.98%


% to NetAssets

Security and Intelligence Services (I) Ltd.


The Federal Bank Ltd. Banks 1.83%

Axis Bank Ltd. Banks 1.77%Sun Pharmaceutical Industries Ltd.


Cholamandalam Investment and Finance Company Ltd.

Finance 1.65%

PNC Infratech Ltd. Construction 1.52%

Blue Star Ltd. Consumer Durables 1.51%

Indian Bank Banks 1.47%

Mahindra & Mahindra Ltd. Auto 1.46%

Lupin Ltd. Pharmaceuticals 1.44%

Steel Authority of India Ltd. Ferrous Metals 1.37%

Larsen & Toubro Ltd. Construction Project 1.23%

GMR Infrastructure Ltd. Construction Project 1.18%

State Bank of India Banks 1.07%

DCB Bank Ltd. Banks 1.07%

Pidilite Industries Ltd. Chemicals 1.04%

Nava Bharat Ventures Ltd. Power 1.03%

The South Indian Bank Ltd. Banks 0.87%

Engineers India Ltd. Construction Project 0.85%

Tata Elxsi Ltd. Software 0.53%

Coal India Ltd. Minerals/Mining 0.53%

Tata Motors Ltd. Auto 0.51%

Tata Steel Ltd. - Partly Paid Ferrous Metals 0.06%

Total 98.82%

CBLO / Reverse Repo Investments 2.27%

Total 2.27%

Cash & Cash Equivalents

Net Receivable/Payable -1.09%

Total -1.09%

Grand Total 100.00%

BANK

Banks24.55%

Software11.35%

Finance11.66%

Gas5.23%

Consumer Non

Durables5.03%

Consumer Durables

6.39%

Auto5.51%

Auto Ancillaries

4.22%

Construction3.51%


7

Investment Objective The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of growth oriented mid cap stocks.However, there is no assurance or guarantee that the investment objective of the Scheme will be realized.

Plan A 3.03%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

October 4, 2010

S&P BSE Mid-cap index^



A. Growth Option (default option in case no option specified by investor); B. Dividend Option 1. Payout; 2. Reinvestment (default sub-option in case no option specified by investor) C. Bonus Option$


Entry Load: NA

Exit Load: 1.00% if redeemed on or before 365 days from the date of allotment of units,

Nil if redeemed after 365 days from the date of allotment of units.

Mr. Sanjay Chawla


AAUM & AUM

AAUM 40.36 Crs

AUM 41.14 Crs


Sharpe@ -0.07

Beta 0.92


1.32



Mr. Dipak Acharya


Portfolio Portfolio

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21^ For Disclaimer please refer page no 21£ Pursuant to the SEBI circulars issued by SEBI on “Categorisation and Rationalisation of mutual fund schemes”, there has been change in the fundamental attributes of the scheme effective June 6, 2018.

Plan A `

Growth 9.74

Dividend 9.74

Plan B - Direct `

Growth 10.16

Dividend 10.16




• Investment predominantly in equity and equity related securities of growth oriented Mid-Cap stocks.


Top 10 Sectors

Baroda Pioneer Mid-Cap Fund£ Mid Cap Fund – An open-ended equity scheme pre-dominantly investing in mid cap stocks. 31st May, 2018


% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchangesMphasis Ltd. Software 4.02%

Astral Poly Technik Ltd. Industrial Products 3.77%

Solar Industries India Ltd. Chemicals 3.70%

Whirlpool of India Ltd. Consumer Durables 3.37%

Indraprastha Gas Ltd. Gas 3.22%Mahindra & Mahindra Financial Services Ltd.

Finance 3.20%

Sundram Fasteners Ltd. Auto Ancillaries 3.08%

Symphony Ltd. Consumer Durables 2.97%

The Ramco Cements Ltd. Cement 2.82%

Alkem Laboratories Ltd. Pharmaceuticals 2.80%

Balkrishna Industries Ltd. Auto Ancillaries 2.76%Crompton Greaves Consumer Electricals Ltd.

Consumer Durables 2.76%

WABCO India Ltd. Auto Ancillaries 2.72%

NBCC (India) Ltd. Construction 2.69%

Bajaj Electricals Ltd. Consumer Durables 2.59%

The Indian Hotels Company Ltd.

Hotels, Resorts And Other Recreational Activities

2.59%

Blue Dart Express Ltd. Transportation 2.52%

Jubilant Foodworks Ltd.Consumer Non Durables

2.44%

Sterlite Technologies Ltd.Telecom - Equipment & Accessories

2.41%


Simplex Infrastructures Ltd. Construction 2.26%Security and Intelligence Services (I) Ltd.


Dish TV India Ltd.Media & Entertainment

2.22%


% to NetAssets

Carborundum Universal Ltd. Industrial Products 2.12%

GMR Infrastructure Ltd. Construction Project 1.77%National Aluminium Company Ltd.

Non - Ferrous Metals

1.71%

Blue Star Ltd. Consumer Durables 1.70%Kalpataru Power Transmission Ltd.

Power 1.63%

Gulf Oil Lubricants India Ltd. Petroleum Products 1.61%

Engineers India Ltd. Construction Project 1.60%

CESC Ltd. Power 1.49%Bharat Financial Inclusion Ltd.

Finance 1.42%


Finance 1.30%

D.B.Corp Ltd.Media & Entertainment

1.26%

AIA Engineering Ltd. Industrial Products 1.12%

Cyient Ltd. Software 1.07%


Persistent Systems Ltd. Software 0.96%


Union Bank of India Banks 0.77%

Canara Bank Banks 0.75%

Bank of India Banks 0.72%

Tata Elxsi Ltd. Software 0.60%

Total 91.07%


Total 9.74%



Total -0.81%

Grand Total 100.00%

BANK

Banks6.56%

Finance5.92%

Consumer Durables13.39%

Auto8.56%

Construction4.95%

Chemicals3.70%

Software6.65%


Media & Entertainment

3.48%


8

Investment Objective The primary objective of the Scheme is to generate capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of large cap companies. The Scheme may also invest in debt and money market securities.However, there is no assurance or guarantee that the investment objective of the Scheme will be realized.

Plan A 3.02%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

June 22, 2010

Nifty 100^





Entry Load: NA



Mr. Sanjay Chawla


AAUM & AUM

AAUM 28.21 Crs

AUM 28.24 Crs


Sharpe@ 0.04

Beta 1.00


1.17



Mr. Dipak Acharya


Portfolio Portfolio


Plan A `

Growth 13.69

Dividend 11.81

Plan B - Direct `

Growth 14.21

Dividend 12.32




• Investment predominantly in a diversified portfolio of equity and equity related securities of Large Cap companies.


Top 10 Sectors

Baroda Pioneer Large Cap Fund£ Large Cap Fund – An open-ended equity scheme pre-dominantly investing in large cap stocks. 31st May, 2018


% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchanges

HDFC Bank Ltd. Banks 9.85%

Reliance Industries Ltd. Petroleum Products 6.52%

Maruti Suzuki India Ltd. Auto 6.04%


Finance 5.84%

Larsen & Toubro Ltd. Construction Project 5.82%

Hindustan Unilever Ltd.Consumer Non Durables

5.70%


Infosys Ltd. Software 4.80%

Tata Consultancy Services Ltd.

Software 3.08%


Godrej Consumer Products Ltd.


2.82%

MRF Ltd. Auto Ancillaries 2.68%

Mahindra & Mahindra Financial Services Ltd.

Finance 2.59%

Shriram Transport Finance Company Ltd.

Finance 2.57%

Sun Pharmaceutical Industries Ltd.


Zee Entertainment Enterprises Ltd.


2.17%


IndusInd Bank Ltd. Banks 2.08%

Tata Motors Ltd. Auto 2.00%

Mahindra & Mahindra Ltd. Auto 1.96%

Container Corporation of India Ltd.

Transportation 1.95%


% to NetAssets

Titan Company Ltd. Consumer Durables 1.91%

Axis Bank Ltd. Banks 1.74%


ABB India Ltd.Industrial Capital Goods

1.53%

Bank of Baroda Banks 1.45%

Mahanagar Gas Ltd. Gas 1.45%

Lupin Ltd. Pharmaceuticals 1.36%

Grasim Industries Ltd. Cement 0.92%

Tata Steel Ltd. Ferrous Metals 0.92%

Bharti Airtel Ltd. Telecom - Services 0.86%


Coal India Ltd. Minerals/Mining 0.63%



Tata Steel Ltd. - Partly Paid Ferrous Metals 0.08%

Total 97.33%

Margin Fixed Deposits

HDFC Bank Ltd. Unrated 0.39%

Total 0.39%


Total 0.83%


Net Receivable/Payable 1.45%

Total 1.45%

Grand Total 100.00%

BANK

Banks25.55%

Software10.91%

Consumer Non

Durables8.52%

Finance11.00%

Auto10.00%

Auto Ancillaries

2.68%


Pharma- ceuticals3.91%

Petroleum Products6.52%


2.17%

9

Investment Objective The investment objective is to generate long-term capital appreciation for unit holders from a portfolio invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector.

Plan A 3.01%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

June 22, 2012

Nifty Bank Index^





Entry Load: NA


Nil if redeemed after 365 days from the date of allotment of units

AAUM & AUM

AAUM 39.88 Crs

AUM 40.57 Crs


Sharpe@ 0.25

Beta 0.92


0.67



Mr. Dipak Acharya


Portfolio Portfolio


Plan A `

Growth 21.76

Bonus 21.76

Dividend 16.58

Plan B - Direct `

Growth 22.71

Dividend 17.45




• Investment predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector.


Top 10 Sectors

Baroda Pioneer Banking and Financial Services Fund£ An open ended equity scheme investing in the Banking and Financial Services sector. 31st May, 2018


% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchanges

HDFC Bank Ltd. Banks 29.23%


Kotak Mahindra Bank Ltd. Banks 9.04%

Axis Bank Ltd. Banks 8.20%

Bharat Financial Inclusion Ltd.

Finance 7.19%



Mahindra & Mahindra Financial Services Ltd.

Finance 3.60%


Bank of Baroda Banks 2.36%


Finance 2.15%


Finance 1.35%


Finance 1.32%



% to NetAssets


Indian Bank Banks 1.01%

Karur Vysya Bank Ltd. Banks 0.91%

The South Indian Bank Ltd. Banks 0.89%




Total 98.52%

Margin Fixed Deposits

HDFC Bank Ltd. Unrated 0.37%

Total 0.37%


Total 1.83%



Total -0.72%

Grand Total 100.00%

BANK

Banks82.91%

Finance15.61%

Unrated0.37%

Cash & Equivalent1.11%̀

10

Investment Objective The scheme is targeted for long-term capital appreciation along with stability through a well balanced portfolio comprising of equity, equity related instruments, money market instrument and debt securities.

Plan A 2.62%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

September 12, 2003

CRISIL Hybrid 35+65 – Aggressive Index(effective February 1, 2018)





Entry Load: NA

Exit Load: 1% if redeemed on or before 12 months from the date of allotment of units,

Nil if redeemed after 12 months from the date of allotment of units

AAUM & AUM

AAUM 708.64 Crs

AUM 728.06 Crs


Sharpe@ 0.29

Beta 1.12


1.16



Mr. Sanjay Chawla&


Portfolio Portfolio

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21£ Pursuant to the SEBI circulars issued by SEBI on “Categorisation and Rationalisation of mutual fund schemes”, there has been change in the fundamental attributes of the scheme effective June 6, 2018.


• Capital appreciation along with stability over long term.

• Investment predominantly in equity and equity related instru-ments with balance exposure to money market instruments and debt securities.


Top 10 Sectors

Riskometer

Plan A `

Growth 56.14

Dividend 17.84

Plan B - Direct `

Growth 59.81

Dividend 19.72

NAV as on 31 May 2018

Baroda Pioneer Hybrid Equity Fund2£

An open ended hybrid scheme investing predominantly in equity and equity related instruments.

Mr. Dipak Acharya



31st May, 2018

All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR.**Thinly traded / Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.


% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchangesHDFC Bank Ltd. Banks 5.88%ICICI Bank Ltd. Banks 2.65%Maruti Suzuki India Ltd. Auto 2.46%Tech Mahindra Ltd. Software 2.45%Mphasis Ltd. Software 2.42%Mahindra & Mahindra Financial Services Ltd. Finance 2.35%

Shriram Transport Finance Company Ltd. Finance 2.00%

Kansai Nerolac Paints Ltd. Consumer Non Durables 1.95%

Bharat Financial Inclusion Ltd. Finance 1.93%Tata Consultancy Services Ltd. Software 1.91%Supreme Industries Ltd. Industrial Products 1.90%Indraprastha Gas Ltd. Gas 1.82%Axis Bank Ltd. Banks 1.80%Steel Authority of India Ltd. Ferrous Metals 1.78%Housing Development Finance Corporation Ltd. Finance 1.76%

Bharat Forge Ltd. Industrial Products 1.70%Yes Bank Ltd. Banks 1.59%WABCO India Ltd. Auto Ancillaries 1.54%Motherson Sumi Systems Ltd. Auto Ancillaries 1.49%Whirlpool of India Ltd. Consumer Durables 1.40%Petronet LNG Ltd. Gas 1.36%City Union Bank Ltd. Banks 1.34%The Ramco Cements Ltd. Cement 1.33%

Emami Ltd. Consumer Non Durables 1.29%

Cholamandalam Investment and Finance Company Ltd. Finance 1.26%

KEC International Ltd. Construction Project 1.22%NBCC (India) Ltd. Construction 1.20%Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.16%

Container Corporation of India Ltd. Transportation 1.14%

Sun TV Network Ltd. Media & Entertainment 1.14%

Larsen & Toubro Ltd. Construction Project 1.13%Pidilite Industries Ltd. Chemicals 1.11%

Dabur India Ltd. Consumer Non Durables 1.11%

Security and Intelligence Services (I) Ltd. Commercial Services 1.10%

GlaxoSmithKline Consumer Healthcare Ltd.

Consumer Non Durables 1.10%

Carborundum Universal Ltd. Industrial Products 1.06%MRF Ltd. Auto Ancillaries 1.04%Divi's Laboratories Ltd. Pharmaceuticals 1.01%The Federal Bank Ltd. Banks 0.96%IndusInd Bank Ltd. Banks 0.94%Simplex Infrastructures Ltd. Construction 0.89%Bajaj Electricals Ltd. Consumer Durables 0.88%Grasim Industries Ltd. Cement 0.86%


% to NetAssets

Rallis India Ltd. Pesticides 0.79%State Bank of India Banks 0.74%The South Indian Bank Ltd. Banks 0.66%Solar Industries India Ltd. Chemicals 0.64%GMR Infrastructure Ltd. Construction Project 0.62%Bharti Airtel Ltd. Telecom - Services 0.59%Coal India Ltd. Minerals/Mining 0.56%Tata Motors Ltd. Auto 0.50%Blue Dart Express Ltd. Transportation 0.38%Tata Steel Ltd. - Partly Paid Ferrous Metals 0.03%Total 73.92%MONEY MARKET INSTRUMENTCommercial Paper**IIFL Wealth Finance Ltd. CRISIL A1+ 0.69%Total 0.69%Margin Fixed DepositsHDFC Bank Ltd. Unrated 0.32%Total 0.32%CENTRAL GOVERNMENT SECURITIES08.24% CGL 2027 Sovereign 0.18%07.88% CGL 2030 Sovereign 0.09%07.17% CGL 2028 Sovereign 0.06%08.28% CGL 2027 Sovereign 0.01%Total 0.34%STATE GOVERNMENT SECURITIES09.72% SDL 2023 Sovereign 0.43%Total 0.43%BONDS & NCDsListed / awaiting listing on the stock exchangesHDFC Bank Ltd. CRISIL AA+ 4.08%ICICI Bank Ltd. [ICRA]AA+ 3.39%Muthoot Finance Ltd. CRISIL AA 2.71%Bank of Baroda CRISIL AA+ 1.85%Indian Railway Finance Corporation Ltd. CRISIL AAA 1.55%

PNB Housing Finance Ltd. IND AAA 1.49%Edelweiss Commodities Services Ltd. CARE AA 0.97%

Vijaya Bank [ICRA]AA- 0.69%Tata Capital Financial Services Ltd. [ICRA]AA+ 0.68%

Dewan Housing Finance Corporation Ltd. BWR AAA 0.27%

IndusInd Bank Ltd. CRISIL AA 0.07%Total 17.75%Unlisted IIFL Wealth Finance Ltd. [ICRA]AA 1.46%Total 1.46%CBLO / Reverse Repo Investments 4.82%Total 4.82%Cash & Cash EquivalentsNet Receivable/Payable 0.27%Total 0.27%Grand Total 100.00%

2Formerly known as Baroda Pioneer Balance Fund

BANK

Banks16.56%

Software6.78%

CRISIL AA+

5.93%

Consumer Non

Durables5.45%

Finance9.30%

Auto Ancillaries

4.07%


[ICRA]AA+

4.07%


Gas3.18%

11

Baroda Pioneer Conservative Hybrid Fund3£

An open ended hybrid scheme investing pre-dominantly in debt instruments.

Portfolio Portfolio


Instruments

4.04%

0.02%

0.28%

0.29%

0.29%

0.42%

0.46%

0.51%

0.75%

0.81%

1.06%

1.51%

1.66%

1.93%

1.96%

3.24%

4.31%

4.43%

4.69%

67.34%

Cash & Equivalent

Ferrous Metals

Consumer Durables

Construction Project

Industrial Products

Transportation


Cement

Auto


Pharmaceuticals

Gas

Auto Ancillaries

Software


Finance

[ICRA]AA+

CRISIL AAA

Banks

Sovereign

Ratings

Riskometer

This product is suitable for investors who are seeking*• Regular Income and capital appreciation over medium term

with providing liquidity.• Investment in debt and money market instruments and in equity

and equity related instruments.* Investors should consult their financial advisers if in

doubt about whether the product is suitable for them.

67.34%

19.88%

8.74%

2.03% 2.01% CENTRALGOVERNMENTSECURITIES

EQUITY & EQUITY

RELATED

BONDS & NCDs

CBLO / Reverse

Repo Investments

Cash & Cash

Equivalents

Investment ObjectiveTo generate regular income through investment in debt and money market instruments and also to generate long term capital appreciation by investing a portion in equity and equity related instruments.

Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Fund Manager#

September 08, 2004

CRISIL Hybrid 85+15 - Conservative Index (effective February 1, 2018)



A. Growth Option (default option in case no option specified by investor); B. Monthly Dividend (default) 1. Payout 2. Re-investment (default sub-option in case no option specified by investor) C. Quarterly Dividend 1. Payout 2. Reinvestment (default sub-option in case no option specified by investor) D. Bonus Option$


Entry Load: NA

Exit Load: NIL

Ms. Hetal Shah


Average Maturity (Days) 3550.80

Modified Duration (Years) 5.09

Portfolio Yield (%) 7.95

Portfolio Characteristic

AAUM & AUM

AAUM 24.29 Crs

AUM 22.78 Crs

Plan A 2.09%


Total Expense RatioPlan A `

Growth 22.0966

Dividend - Monthly 13.1922

Dividend - Quarterly 12.9416

Plan B - Direct `

Growth 23.1532





% to NetAssets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchangesHDFC Bank Ltd. Banks 2.35%MRF Ltd. Auto Ancillaries 1.66%Mahindra & Mahindra Financial Services Ltd.

Finance 1.39%


Finance 1.21%

Yes Bank Ltd. Banks 0.91%ICICI Bank Ltd. Banks 0.88%

Sun TV Network Ltd.Media & Entertainment

0.81%

Tata Consultancy Services Ltd.

Software 0.76%

Maruti Suzuki India Ltd. Auto 0.75%

Dabur India Ltd.Consumer Non Durables

0.67%


0.65%


Finance 0.64%

Nestle India Ltd.Consumer Non Durables

0.64%

Tech Mahindra Ltd. Software 0.63%Indraprastha Gas Ltd. Gas 0.58%Divi's Laboratories Ltd. Pharmaceuticals 0.55%Infosys Ltd. Software 0.54%Mahanagar Gas Ltd. Gas 0.54%The Ramco Cements Ltd. Cement 0.51%Lupin Ltd. Pharmaceuticals 0.51%National Aluminium Company Ltd.


0.46%

Container Corporation of India Ltd.

Transportation 0.42%

Petronet LNG Ltd. Gas 0.39%Axis Bank Ltd. Banks 0.36%Engineers India Ltd. Construction Project 0.29%Bharat Forge Ltd. Industrial Products 0.29%Titan Company Ltd. Consumer Durables 0.28%


% to NetAssets

The Federal Bank Ltd. Banks 0.19%Tata Steel Ltd. - Partly Paid Ferrous Metals 0.02%Total 19.88%CENTRAL GOVERNMENT SECURITIES07.17% CGL 2028 Sovereign 29.38%06.68% CGL 2031 Sovereign 29.36%07.59% CGL 2026 Sovereign 4.27%08.24% CGL 2027 Sovereign 2.21%07.59% CGL 2029 Sovereign 2.12%Total 67.34%BONDS & NCDsListed / awaiting listing on the stock exchangesPower Finance Corporation Ltd.

CRISIL AAA 4.43%

Tata Capital Financial Services Ltd.

[ICRA]AA+ 4.31%

Total 8.74%CBLO / Reverse Repo Investments 2.03%Total 2.03%Cash & Cash EquivalentsNet Receivable/Payable 2.01%Total 2.01%Grand Total 100.00%

All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND; BWR.

31st May, 20183Formerly known as Baroda Pioneer Monthly Income Plan (MIP) Fund

(Monthly income is not assured and is subject to the availability of distributable surplus)

12

Portfolio Portfolio


11.54%

0.51%

0.96%

1.02%

1.06%

1.08%

1.11%

1.53%

1.79%

2.52%

2.87%

5.17%

5.44%

6.01%

9.18%

17.78%

30.43%

Cash & Equivalent

CARE AA-

CRISIL A1+

CRISIL AAA (SO)

IND A1+

CRISIL AA+

CRISIL AAA

CARE AAA

[ICRA]A-

[ICRA]AA+

CARE AA

[ICRA]AA-

Sovereign

BWR AAA

BWR A1+ (SO)

CRISIL AA

[ICRA]AA

Ratings

Riskometer


• Income over medium term.

• Investment in a mix of debt and money market instruments across the credit and maturity spectrum.


Instruments

64.68%

16.32%

6.66%

4.88%3.51%

2.02%1.93%

BONDS & NCDsUnlistedCBLO / ReverseRepo InvestmentsCash & CashEquivalentsCENTRALGOVERNMENTSECURITIESCertificate ofDeposit

STATEGOVERNMENTSECURITIES

Investment Objective The primary objective of the Scheme is to generate returns by investing in debt and money market instruments across the credit spectrum. There is no assurance or guarantee that the investment objective of the Scheme will be realized.

Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Fund Manager#

January 23, 2015

CRISIL Short Term Bond Fund Index



A. Growth Option (default option in case no option specified by investor); B. Monthly Dividend 1. Payout 2. Re-investment (default sub-option in case no option specified by investor) C. Quarterly Dividend 1. Payout 2. Reinvestment (default sub-option in case no option specified by investor) D. Bonus Option$


Entry Load: NA

Exit Load: If units are redeemed upto 10% of the units, on or before one year from the date of allotment : Nil

If units are redeemed over and above the 10% limit, on or before one year from the date of allotment : 1% of the applicable Net Asset Value (NAV)

If units are redeemed after one year from the date of allotment: Nil

Mr. Alok Sahoo


Mr. Karn Kumar&


AAUM 971.39 Crs

AUM 978.10 Crs





AAUM & AUM

Plan A 1.65%


Total Expense Ratio Plan A `

Growth 13.4887



Plan B - Direct `

Bonus 14.0295

Growth 14.0295




Baroda Pioneer Credit Risk Fund4£ An open ended debt scheme predominantly investing in AA and below rated corporate bonds.(Excluding AA+ rated corporate bonds)

& Mr. Karn Kumar is managing the Scheme along with Mr. Alok Sahoo effective July 24, 2017


31st May, 2018


% to NetAssets

MONEY MARKET INSTRUMENTCertificate of Deposit**HDFC Bank Ltd. IND A1+ 1.06%IndusInd Bank Ltd. CRISIL A1+ 0.96%Total 2.02%CENTRAL GOVERNMENT SECURITIES07.17% CGL 2028 Sovereign 2.54%06.68% CGL 2031 Sovereign 0.97%Total 3.51%STATE GOVERNMENT SECURITIES08.43% SDL 2028 Sovereign 1.03%07.33% SDL 2027 Sovereign 0.57%08.11% SDL 2028 Sovereign 0.33%Total 1.93%BONDS & NCDsListed / awaiting listing on the stock exchangesPiramal Enterprises Ltd. [ICRA]AA 10.17%Apollo Hospitals Enterprise Ltd.

CRISIL AA 9.50%

Edelweiss Commodities Services Ltd.

[ICRA]AA 5.64%

Aspire Home Finance Corporation Ltd.

[ICRA]AA- 5.17%

IndusInd Bank Ltd. CRISIL AA 4.70%IIFL Facilities Services Ltd. [ICRA]AA 4.14%Dewan Housing Finance Corporation Ltd.

BWR AAA 3.98%

IIFL Home Finance Ltd. CRISIL AA 3.58%Edelweiss Commodities Services Ltd.

CARE AA 2.77%

Edelweiss Housing Finance Ltd.

[ICRA]AA 2.57%

ICICI Bank Ltd. [ICRA]AA+ 2.52%Yes Bank Ltd. [ICRA]AA 2.45%Indiabulls Housing Finance Ltd.

BWR AAA 2.03%

Indiabulls Housing Finance Ltd.

CARE AAA 1.53%


% to NetAssets

Edelweiss Asset Reconstruction Company Ltd.

[ICRA]AA 1.13%

Indian Railway Finance Corporation Ltd.

CRISIL AAA 1.11%

Bank of Baroda CRISIL AA+ 1.08%JSW Steel Ltd. CARE AA- 0.51%Bank of Baroda CARE AA 0.10%Total 64.68%UnlistedARM Infra & Utilities Private Ltd.

BWR A1+ (SO) 9.18%

IIFL Wealth Finance Ltd. [ICRA]AA 4.33%Jana Small Finance Bank Ltd [ICRA]A- 1.79%Powergrid Vizag Transmission Ltd.

CRISIL AAA (SO) 1.02%


4Formerly known as Baroda Pioneer Credit Opportunities Fund

13

Portfolio


Riskometer


• Credit risk free regular Income over long term.

• Investment only in Government (both Central and State Government) Securities.


Investment ObjectiveTo generate income by investing in a portfolio of Government securities.

Plan A 1.92%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

March 21, 2002

I SEC-MI BEX



A. Growth Option (default option in case no option specified by investor); B. Dividend 1. Payout 2. Re-investment (default sub-option in case no option specified by investor) C. Bonus Option$


Entry Load: NA

Exit Load: 0.25% if redeemed on or before

1 month (30 days) from the date of allotment of units.

Nil if redeemed after 1 month (30 days) from the date of allotment of units.

Ms. Hetal Shah


AAUM & AUM

AAUM 31.35 Crs

AUM 28.94 Crs





Baroda Pioneer Gilt Fund£

An open ended debt scheme investing in government securities across maturity.

RatingsInstruments

69.95%

21.95%

6.64% 1.46%CENTRALGOVERNMENTSECURITIES


CBLO / ReverseRepo Investments

Cash & CashEquivalents

Plan A `

Growth 26.2563

Dividend 18.6191

Plan B- Direct `

Growth 27.5756

Dividend 23.8729


8.10%

91.90%

Cash & Equivalent

Sovereign

Portfolio

31st May, 2018


% to NetAssets

CENTRAL GOVERNMENT SECURITIES

06.68% CGL 2031 Sovereign 22.79%

07.17% CGL 2028 Sovereign 13.21%

08.24% CGL 2027 Sovereign 11.15%

07.59% CGL 2029 Sovereign 9.33%

08.28% CGL 2027 Sovereign 8.38%

06.79% CGL 2027 Sovereign 3.21%

07.59% CGL 2026 Sovereign 1.68%

07.88% CGL 2030 Sovereign 0.20%

Total 69.95%


% to NetAssets

STATE GOVERNMENT SECURITIES

07.33% SDL 2027 Sovereign 12.94%

09.39% SDL 2023 Sovereign 9.01%

Total 21.95%


Total 6.64%



Total 1.46%

Grand Total 100.00%

14

Portfolio


Ratings

Riskometer


• Regular Income over long term.

• Investment predominantly in good quality Fixed Income Securities by maintaining a balance between Risk & Return.


Instruments

42.50%

39.73%

11.94%

3.08% 2.75%CENTRALGOVERNMENTSECURITIESBONDS & NCDs

STATEGOVERNMENTSECURITIESCBLO / ReverseRepo Investments


Investment ObjectiveTo generate regular income by investing in a portfolio of good quality Fixed Income Securities by maintaining a balance between Risk & Return.

Plan A 2.47%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

March 21, 2002

CRISIL Composite Bond Fund Index





Entry Load: NA

Exit Load: If units are redeemed upto 10% of the units, on or before one year from the date of allotment: Nil

If units are redeemed over and above the 10% limit, on or before one year from the date of allotment : 1% of the applicable Net Asset Value (NAV)

If units are redeemed after one year from the date of allotment: Nil

Ms. Hetal Shah


Mr. Karn Kumar@


AAUM & AUM

AAUM 17.63 Crs

AUM 17.53 Crs





Plan A `

Growth 25.9085

Dividend 21.1072

Plan B - Direct `

Growth 27.0452

Dividend 21.4645


Baroda Pioneer Income Fund£

An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years (please refer to pg 32 of SID).

Portfolio

5.83%

8.46%

9.81%

10.23%

11.23%

54.44%

Cash & Equivalent

CRISIL AA

CRISIL AAA

BWR AAA

[ICRA]AA

Sovereign

31st May, 2018



% to NetAssets


06.68% CGL 2031 Sovereign 15.26%

07.59% CGL 2026 Sovereign 13.88%

06.79% CGL 2027 Sovereign 10.61%

07.59% CGL 2029 Sovereign 2.75%

Total 42.50%


09.35% SDL 2024 Sovereign 4.50%

08.58% SDL 2023 Sovereign 4.09%

09.39% SDL 2023 Sovereign 2.58%

08.60% SDL 2023 Sovereign 0.77%

Total 11.94%


% to NetAssets

BONDS & NCDs

Listed / awaiting listing on the stock exchanges


[ICRA]AA 11.23%

Dewan Housing Finance Corporation Ltd.

BWR AAA 10.23%

Indian Railway Finance Corporation Ltd.

CRISIL AAA 9.81%

IndusInd Bank Ltd. CRISIL AA 8.46%

Total 39.73%


Total 3.08%



Total 2.75%

Grand Total 100.00%

@ Mr. Karn Kumar is managing the Scheme along with Ms. Hetal Shah effective Jan 6, 2018

15

Portfolio


Ratings

Riskometer


• Regular Income over medium term with providing liquidity.

• Investment in medium to long term corporate bonds and / or government securities and manage the portfolio dynamically through different interest rate cycles.


Instruments

53.50%

29.79%

9.66%3.70%

3.35% CENTRALGOVERNMENTSECURITIES

BONDS & NCDs




Investment ObjectiveThe investment objective of the scheme is to generate returns with liquidity by managing the portfolio dynamically through interest rate cycles.

Plan A 1.62%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

June 30, 2012

CRISIL Composite Bond Fund Index





Entry Load: NA

Exit Load: 0.50% if redeemed within 3 months from the date of allotment of units, Nil if redeemed after 3 months from the date of allotment of units.

Mr. Alok Sahoo


Ms. Hetal Shah


AAUM & AUM

AAUM 21.85 Crs

AUM 21.84 Crs





Plan A `

Growth 16.2830

Dividend 12.4201

Plan B - Direct `

Growth 17.0040

Dividend 13.1041


Baroda Pioneer Dynamic Bond Fund£

An open-ended dynamic debt scheme investing across duration.

Portfolio

7.05%

2.26%

9.13%

9.17%

9.23%

63.16%

Cash & Equivalent

CRISIL AA

BWR AAA

[ICRA]AA

[ICRA]AA-

Sovereign

31st May, 2018



% to NetAssets


07.17% CGL 2028 Sovereign 17.52%

08.28% CGL 2027 Sovereign 11.57%

06.79% CGL 2027 Sovereign 8.52%

06.68% CGL 2031 Sovereign 6.13%

07.59% CGL 2029 Sovereign 5.30%

07.59% CGL 2026 Sovereign 4.46%

Total 53.50%


09.72% SDL 2023 Sovereign 9.66%

Total 9.66%

BONDS & NCDs



[ICRA]AA- 9.23%


% to NetAssets


[ICRA]AA 9.17%


BWR AAA 9.13%

IndusInd Bank Ltd. CRISIL AA 2.26%

Total 29.79%


Total 3.35%



Total 3.70%

Grand Total 100.00%

16

Portfolio

^ The Dividend Option has been renamed as Monthly Dividend Option and a Quarterly Dividend Option has been introduced effective December 23, 2016.# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21£ Pursuant to the SEBI circulars issued by SEBI on “Categorisation and Rationalisation of mutual fund schemes”, there has been change in the fundamental attributes of the scheme effective June 6, 2018.

Ratings

Riskometer


• Regular Income over short term.

• Investment predominantly in Money Market Instruments (i.e. CP/CD) and Short Term Debt Market Instruments.


Instruments

59.95%

17.69%

13.14%

4.84%4.38%

BONDS & NCDs

Certificate of Deposit

Unlisted



Investment ObjectiveThe objective of the Scheme is to generate income from a portfolio constituted of short term debt and money market securities.

Plan A 1.30%


Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

June 30, 2010

CRISIL Short Term Bond Fund Index



A. Growth Option (default option in case no option specified by investor); B. Monthly Dividend^ 1. Payout 2. Re-investment (default sub-option in case no option specified by investor) C. Quarterly Dividend^ 1. Payout 2. Re-investment (default sub-option in case no option specified by investor)


Entry Load: NA

Exit Load: 0.25% if redeemed on or before 15 days from the date of allotment of units.


Mr. Alok Sahoo


Ms. Hetal Shah


AAUM & AUM

AAUM 263.37 Crs

AUM 253.24 Crs





Plan A `

Growth 18.5727

Dividend 10.0426

Plan B - Direct `

Growth 19.1984

Dividend 10.0182


Baroda Pioneer Short Term Bond Fund£

An open-ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years (please refer to pg 30 of SID).

Portfolio

9.22%

0.20%

0.80%

1.58%

1.58%

2.69%

5.90%

9.31%

9.32%

11.15%

11.79%

11.83%

24.63%

Cash & Equivalent

CRISIL AAA

[ICRA]AA-

CARE AA

CRISIL A+

[ICRA]A-

IND A1+

IND AAA

[ICRA]AA+

CRISIL AA-

CRISIL A1+

CARE AAA

[ICRA]AA

31st May, 2018



% to NetAssets

MONEY MARKET INSTRUMENT

Certificate of Deposit**

Axis Bank Ltd. CRISIL A1+ 11.79%

Andhra Bank IND A1+ 5.90%

Total 17.69%

BONDS & NCDs



CARE AAA 11.83%

Manappuram Finance Ltd. CRISIL AA- 11.15%

PNB Housing Finance Ltd. IND AAA 9.31%

Tata Capital Financial Services Ltd.

[ICRA]AA+ 7.37%


[ICRA]AA 5.83%


[ICRA]AA 3.95%

India Infoline Finance Ltd. [ICRA]AA 2.44%

Piramal Enterprises Ltd. [ICRA]AA 1.96%

L&T Finance Ltd. [ICRA]AA+ 1.95%


CARE AA 1.58%


CRISIL A+ 1.58%


[ICRA]AA- 0.80%


% to NetAssets

Power Grid Corporation of India Ltd.

CRISIL AAA 0.20%

Total 59.95%

Unlisted

IIFL Wealth Finance Ltd. [ICRA]AA 10.45%

Jana Small Finance Bank Ltd [ICRA]A- 2.69%

Total 13.14%


Total 4.84%



Total 4.38%

Grand Total 100.00%

17

Portfolio

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Treasury Advantage Fund (earlier called Institutional Plan)*For Disclaimer please refer page no 21# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21£ Pursuant to the SEBI circulars issued by SEBI on “Categorisation and Rationalisation of mutual fund schemes”, there has been change in the fundamental attributes of the scheme effective June 6, 2018.

Ratings

Riskometer


• Regular income over short term with maintaining a balance between returns and liquidity.

• Investment predominantly in Money Market (i.e. CP/CDs) and Debt Market Instruments.


Instruments

38.22%

34.75%

15.65%

5.09%3.35% 2.94% BONDS & NCDs


Commercial Paper

Unlisted



Investment ObjectiveThe main objective of the scheme is to provide optimal returns and liquidity through a portfolio comprising of debt securities and money market instruments.

Plan A 0.81%


Date of Inception

Benchmark

Plans & Option

Minimum Investment

Load Structure

Total Expense Ratio

Fund Manager#

June 24, 2009

CRISIL Liquid Fund Index


A. Growth Option (default option in case no option specified by investor); B. Daily Dividend 1. Re-investment C. Weekly Dividend 1. Re-investment C. Monthly Dividend 1. Payout 2. Re-investment (default sub option in case no option specified by investor) D. Quarterly Dividend 1. Payout 2. Re-investment (default sub option in case no option specified by investor) E. Bonus Option$


Entry Load: NA

Exit Load: NIL

Mr. Alok Sahoo


Ms. Hetal Shah


AAUM & AUM

AAUM 1,857.47 Crs

AUM 1,751.05 Crs





SIP (Minimum)


Regular `

Growth 1997.5315Dividend - Daily 1006.2839Dividend - Weekly 1000.7448Dividend - Monthly 1001.8031Plan A `

Bonus 2033.4667Growth 2048.2872Dividend - Daily 1030.3954Dividend - Weekly 1000.7377Dividend - Monthly 1001.8032Dividend - Quarterly 1038.9004Plan B - Direct `

Growth 2084.1798Dividend - Daily 1008.5979Dividend - Weekly 1000.7617Dividend - Monthly 1001.8630Dividend - Quarterly 1047.9864


Baroda Pioneer Treasury Advantage Fund£

An open-ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months (please refer to pg 32 of SID).

Portfolio

6.29%

1.19%

1.63%

2.08%

2.63%

2.69%

2.76%

2.83%

3.47%

5.09%

6.27%

8.78%

8.80%

13.01%

32.48%

Cash & Equivalent

CRISIL A+

CRISIL AAA

IND A1+

[ICRA]AA-

CRISIL AA-

CRISIL AA

CARE A1+

CARE AA

BWR A1+ (SO)

BWR AAA

CARE AAA

[ICRA]AA

[ICRA]A1+

CRISIL A1+

31st May, 2018



% to NetAssets

MONEY MARKET INSTRUMENTCertificate of Deposit**IndusInd Bank Ltd. CRISIL A1+ 6.15%ICICI Bank Ltd. [ICRA]A1+ 5.55%Axis Bank Ltd. CRISIL A1+ 5.34%Export-Import Bank of India CRISIL A1+ 5.34%Yes Bank Ltd. [ICRA]A1+ 5.33%Vijaya Bank CARE A1+ 2.83%IDFC Bank Ltd. [ICRA]A1+ 2.13%HDFC Bank Ltd. IND A1+ 2.08%Total 34.75%Commercial Paper**IIFL Wealth Finance Ltd. CRISIL A1+ 7.33%National Bank for Agriculture and Rural Development

CRISIL A1+ 5.65%

Reliance Industries Ltd. CRISIL A1+ 2.67%Total 15.65%BONDS & NCDsListed / awaiting listing on the stock exchangesIndiabulls Housing Finance Ltd.

CARE AAA 8.78%


BWR AAA 5.99%

Piramal Enterprises Ltd. [ICRA]AA 5.36%Yes Bank Ltd. [ICRA]AA 2.70%Manappuram Finance Ltd. CRISIL AA- 2.69%Aspire Home Finance Corporation Ltd.

[ICRA]AA- 2.63%


CARE AA 2.11%

IndusInd Bank Ltd. CRISIL AA 1.46%Power Finance Corporation Ltd.

CRISIL AAA 1.37%

Bank of Baroda CARE AA 1.36%Aspire Home Finance Corporation Ltd.

CRISIL A+ 1.19%

Muthoot Finance Ltd. CRISIL AA 0.84%India Infoline Finance Ltd. [ICRA]AA 0.52%


% to NetAssets

Apollo Hospitals Enterprise Ltd.

CRISIL AA 0.46%


BWR AAA 0.28%

Power Grid Corporation of India Ltd.

CRISIL AAA 0.26%


[ICRA]AA 0.11%


[ICRA]AA 0.11%

Total 38.22%UnlistedARM Infra & Utilities Private Ltd.

BWR A1+ (SO) 5.09%


18

Portfolio

31st May, 2018

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Liquid Fund (earlier called Institutional Plan)

*For Disclaimer please refer page no 21# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 21

Ratings

Riskometer


• Regular income over short term with maintaining a balance between returns and liquidity.

• Investment predominantly in Money Market (i.e. CP/CDs) and Debt Market Instruments.


Instruments

64.14%

16.31%

12.59%

6.77% 0.19%Commercial Paper



Fixed Deposit


Investment ObjectiveTo generate income with a high level of liquidity by investing in a portfolio of money market and debt securities.

Date of Inception

Benchmark

SIP (Minimum)

Plans & Option

Minimum Investment

Load Structure

Fund Manager#

February 5, 2009

CRISIL Liquid Fund Index



A. Growth Option (default option in case no option specified by investor); B. Daily Dividend 1. Re-investment C. Weekly Dividend 1. Re-investment D. Bonus Option$


Entry Load: NA

Exit Load: NIL

Mr. Alok Sahoo


Ms. Hetal Shah






AAUM & AUM

AAUM 7,975.02 Crs

AUM 6,205.01 Crs

Plan A 0.25%


Total Expense Ratio

Regular `

Growth 2960.5962

Dividend 2536.5108

Dividend - Daily 1006.0602

Plan A `

Growth 2011.9634


Dividend - Weekly 1000.6168

Plan B - Direct `

Bonus 2022.6114

Growth 2022.2619


Dividend - Weekly 1220.0256


Baroda Pioneer Liquid FundAn open ended liquid scheme

Portfolio

12.78%

0.50%

0.71%

1.42%

2.87%

6.77%

28.35%

46.60%

Cash & Equivalent

IND A1+

CARE A1

CRISIL A1

CARE A1+

Unrated

[ICRA]A1+

CRISIL A1+



% to NetAssets

MONEY MARKET INSTRUMENT

Certificate of Deposit**

IDFC Bank Ltd. [ICRA]A1+ 5.14%

Axis Bank Ltd. CRISIL A1+ 4.80%

IndusInd Bank Ltd. CRISIL A1+ 3.00%

The South Indian Bank Ltd. CARE A1+ 2.87%

Andhra Bank IND A1+ 0.50%

Total 16.31%

Commercial Paper**

SREI Equipment Finance Ltd. [ICRA]A1+ 5.73%

IIFL Home Finance Ltd. CRISIL A1+ 5.67%Edelweiss Commodities Services Ltd.

[ICRA]A1+ 5.02%

Piramal Enterprises Ltd. [ICRA]A1+ 4.99%National Bank for Agriculture and Rural Development

CRISIL A1+ 4.27%

Adani Ports and Special Economic Zone Ltd.

[ICRA]A1+ 4.24%

IIFL Wealth Finance Ltd. CRISIL A1+ 4.25%

National Housing Bank CRISIL A1+ 4.24%

Vedanta Ltd. CRISIL A1+ 3.59%Power Finance Corporation Ltd.

CRISIL A1+ 3.15%

Gruh Finance Ltd. CRISIL A1+ 2.94%Tata Capital Housing Finance Ltd.

CRISIL A1+ 2.87%

India Infoline Finance Ltd. CRISIL A1+ 2.84%

Reliance Industries Ltd. CRISIL A1+ 2.83%

Muthoot Homefin (I) Ltd. [ICRA]A1+ 2.16%

Nabha Power Ltd. CRISIL A1+ 2.15%


% to NetAssets

Muthoot Fincorp Ltd. CRISIL A1 1.42%

Simplex Infrastructures Ltd. CARE A1 0.71%

S D Corporation Pvt. Ltd. [ICRA]A1+ 0.71%Kotak Commodity Services Private Ltd.

[ICRA]A1+ 0.36%

Total 64.14%

Fixed DepositEquitas Small Finance Bank Ltd.

Unrated 3.60%

RBL Bank Ltd. Unrated 2.52%

Yes Bank Ltd. Unrated 0.65%

Total 6.77%


Total 12.59%



Total 0.19%

Grand Total 100.00%

19

Investment Performance

Funds Managed by Mr. Sanjay Chawla & Mr. Dipak Acharya

Date Of Inception: 12/09/20031 Year 3 Years 5 Years

Since InceptionScheme Name & Benchmark

Baroda Pioneer Multi Cap Fund (formerly known as Baroda Pioneer Growth Fund) (in %)^ 6.28 7.79 15.14 16.83

S&P BSE 200 (Scheme Benchmark) (in %)* 13.28 11.13 15.66 16.59

Nifty 50 (Standard Benchmark) (in %)$ 13.30 9.79 13.78 16.49

` 10,000, if invested in BPMCF, would have become ` 10,628 ` 12,531 ` 20,242 ` 98,780

` 10,000, if invested in S&P BSE 200, would have become ` 11,328 ` 13,736 ` 20,703 ` 95,843

` 10,000, if invested in Nifty 50, would have become ` 11,330 ` 13,246 ` 19,072 ` 94,626^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. * with effect from 2nd May 2016 the benchmark has been changed to S&P BSE 200. Mr. Sanjay Chawla is managing the Scheme along with Mr. Dipak Acharya effective November 1, 2015.Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI). As TRI data is not available since inception of the Scheme, benchmark performance is calculated using composite CAGR of the benchmark index Price Return values from 12 Sep 2003 to 29 June 2007, and TRI values since 29 June 2007.



Baroda Pioneer ELSS’ 96 Fund (in %)^ 7.85 7.83 15.57 12.79

S&P BSE 200 (Scheme Benchmark) (in %)* 13.28 11.13 15.66 13.19


` 10,000, if invested in BPELSS’96F, would have become ` 10,785 ` 12,544 ` 20,625 ` 1,44,346

` 10,000, if invested in S&P BSE 200, would have become ` 11,328 ` 13,736 ` 20,703 ` 1,56,137

` 10,000, if invested in Nifty 50, would have become ` 11,330 ` 13,246 ` 19,072 ` 1,49,613^Past performance may or may not be sustained in the future.Data is for Dividend Option and the last working day of May has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. * with effect from 2nd May 2016 the benchmark has been changed to S&P BSE 200. Mr. Sanjay Chawla is managing the Scheme along with Mr. Dipak Acharya effective November 1, 2015. Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI). As TRI data is not available since inception of the Scheme, benchmark performance is calculated using composite CAGR of the benchmark index Price Return values from 31 Mar 1996 to 29 June 2007, and TRI values since 29 June 2007.



Baroda Pioneer Hybrid Equity Fund (formerly known as Baroda Pioneer Balance Fund) (in %)^ 8.50 9.08 13.19 12.43

CRISIL Hybrid 35+65 - Aggressive index& (Scheme Benchmark) (in %) 9.54 10.03 12.94 13.63


` 10,000, if invested in BPHEF, would have become ` 10,850 ` 12,989 ` 18,589 ` 56,140

` 10,000, if invested in CRISIL Hybrid 35+65 - Aggressive index (effective February 1, 2018), would have become ` 10,954 ` 13,331 ` 18,380 ` 65,632

` 10,000, if invested in Nifty 50, would have become ` 11,330 ` 13,246 ` 19,072 ` 94,626^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. Mr. Sanjay Chawla is managing the Scheme along with Mr. Dipak Acharya effective November 1, 2015.&(Benchmark has been renamed effective February 1, 2018). The equity component of the index has been changed from Nifty 50 to S&P BSE 200. The index will be total return index in the equity component from August 1, 2016 while the debt component will be total return since inception. Price return of S&P BSE 200 (equity component) will be used for computing index values prior to August 1, 2016. Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).



Baroda Pioneer Mid-Cap Fund (in %)^ 13.65 4.84 7.57 -0.34

S&P BSE MidCap (Scheme Benchmark)& (in %) 10.46 15.65 21.79 10.45


` 10,000, if invested in BPMCF, would have become ` 11,365 ` 11,527 ` 14,408 ` 9,740

` 10,000, if invested in S&P BSE MidCap, would have become ` 11,046 ` 15,485 ` 26,808 ` 21,411

` 10,000, if invested in Nifty 50, would have become ` 11,330 ` 13,246 ` 19,072 ` 19,113^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. Mr. Sanjay Chawla is managing the Scheme with Mr. Dipak Acharya effective October 3, 2016. &(Scheme Benchmark has been changed to S&B BSE Mid-cap Index effective October 3, 2016)Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).



Baroda Pioneer Large Cap Fund (in %)^ 2.55 5.36 13.80 3.99

Nifty 100 (Scheme Benchmark)& (in %) 13.30 10.69 14.84 11.21


` 10,000, if invested in BPLCF, would have become ` 10,255 ` 11,701 ` 19,093 ` 13,646

` 10,000, if invested in Nifty 100, would have become ` 11,330 ` 13,573 ` 19,984 ` 23,257

` 10,000, if invested in Nifty 50, would have become ` 11,330 ` 13,246 ` 19,072 ` 22,218^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. Mr. Sanjay Chawla is managing the Scheme with Mr. Dipak Acharya effective October 3, 2016. &(Scheme Benchmark has been changed to Nifty 100 effective October 3, 2016)Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).

20



Baroda Pioneer Banking and Financial Services Fund (in %)^ 9.46 10.19 13.42 13.98

Nifty Bank Index (Scheme Benchmark) (in %) 15.93 13.82 17.63 19.07


` 10,000, if invested in BPBFSF, would have become ` 10,946 ` 13,391 ` 18,775 ` 21,760

` 10,000, if invested in Nifty Bank Index, would have become ` 11,593 ` 14,762 ` 22,527 ` 28,218

` 10,000, if invested in Nifty 50, would have become ` 11,330 ` 13,246 ` 19,072 ` 22,424^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. &Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).



Baroda Pioneer Short Term Bond Fund (in %)^ 6.25 8.08 8.24 8.13

CRISIL Short Term Bond Fund Index (Scheme Benchmark) (in %) 4.90 7.41 8.12 8.05

CRISIL 1 year T-Bill (Standard Benchmark) (in %)$ 5.85 6.73 6.87 6.85

` 10,000, if invested in BPSTBF, would have become ` 10,625 ` 12,634 ` 14,861 ` 18,573

` 10,000, if invested in CRISIL Short Term Bond Fund Index, would have become ` 10,490 ` 12,400 ` 14,777 ` 18,473

` 10,000, if invested in CRISIL 1 year T-Bill, would have become ` 10,585 ` 12,165 ` 13,945 ` 16,908^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. &Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.



Baroda Pioneer Liquid Fund (in %)^ 6.86 7.37 8.08 7.79

CRISIL Liquid Fund Index (Scheme Benchmark) (in %) 6.88 7.25 8.03 7.43


` 10,000, if invested in BPLF, would have become ` 10,686 ` 12,382 ` 14,752 ` 20,120

` 10,000, if invested in CRISIL Liquid Fund Index, would have become ` 10,688 ` 12,337 ` 14,714 ` 19,501

` 10,000, if invested in CRISIL 1 year T-Bill, would have become ` 10,585 ` 12,160 ` 13,945 ` 17,490^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of ̀ 1000 invested at inception. &Standard benchmark as prescribed by SEBI for comparison purposes. Returns on ̀ 10,000 are point-to-point returns for the specific time period, invested at the start of the period.



Baroda Pioneer Treasury Advantage Fund (in %)^ 6.71 8.19 8.62 8.35

CRISIL Liquid Fund Index (Scheme Benchmark) (in %) 6.88 7.25 8.03 7.46


` 10,000, if invested in BPTAF, would have become ` 10,671 ` 12,671 ` 15,123 ` 20,483

` 10,000, if invested in CRISIL Liquid Fund Index, would have become ` 10,688 ` 12,343 ` 14,714 ` 19,030

` 10,000, if invested CRISIL 1 year T-Bill, would have become ` 10,585 ` 12,165 ` 13,945 ` 17,256^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of ̀ 1000 invested at inception. &Standard benchmark as prescribed by SEBI for comparison purposes. Returns on ̀ 10,000 are point-to-point returns for the specific time period, invested at the start of the period.



Baroda Pioneer Dynamic Bond Fund (in %)^ 3.57 7.44 7.84 8.58

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 2.44 7.36 7.37 8.23


` 10,000, if invested in BPDBF, would have become ` 10,357 ` 12,410 ` 14,589 ` 16,283

` 10,000, if invested in CRISIL Composite Bond Fund Index, would have become ` 10,244 ` 12,383 ` 14,271 ` 15,969

` 110,000, if invested CRISIL 1 year T-Bill, would have become ` 10,585 ` 12,165 ` 13,945 ` 15,030^Past performance may or may not be sustained in the future.Data is for for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. &Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.


Funds Managed by Mr. Dipak Acharya

Funds Managed by Mr. Alok Sahoo and Ms. Hetal Shah

Funds Managed by Mr. Alok Sahoo and Ms. Hetal Shah

21

Date Of Inception: 23/01/20151 Year 3 Years


Baroda Pioneer Credit Risk Fund (formerly known as Baroda Pioneer Credit Opportunities Fund) (in %)^ 6.05 9.09 9.33

CRISIL Short Term Bond Fund Index (Scheme Benchmark) (in %) 4.90 7.41 7.53

CRISIL 1 year T-Bill (Standard Benchmark) (in %)$ 5.85 6.73 6.88

` 10,000, if invested in BPCRF, would have become ` 10,605 ` 12,991 ` 13,489

` 10,000, if invested in CRISIL Short Term Bond Fund Index, would have become ` 10,490 ` 12,400 ` 12,756

` 10,000, if invested CRISIL 1 year T-Bill, would have become ` 10,585 ` 12,165 ` 12,500^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. The Scheme has been in existence for 3 years but less than 5 years. Mr. Karn Kumar is managing the scheme along with Mr. Alok Sahoo since July 24, 2017.



Baroda Pioneer Conservative Hybrid Fund (formerly known as Baroda Pioneer Monthly Income Plan (MIP) Fund) (in %)^*

3.15 5.64 8.00 5.94

CRISIL Hybrid 85+15 - Conservative Index& (Scheme Benchmark) (in %) 4.09 8.05 8.71 8.49

CRISIL 10 Year Gilt Index (Standard Benchmark) (in %)$ -2.39 5.51 5.14 5.55

` 10,000, if invested in BPCHF, would have become ` 10,315 ` 11,794 ` 14,698 ` 22,097

` 10,000, if invested in CRISIL Hybrid 85+15 - Conservative Index, would have become ` 10,409 ` 12,622 ` 15,185 ` 30,620

` 10,000, if invested in CRISIL 10 Year Gilt Index, would have become ` 9,761 ` 11,751 ` 12,850 ` 20,991^Past performance may or may not be sustained in the future.Data is for for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. &(Benchmark has been renamed effective February 1, 2018). The equity component of the index has been changed from Nifty 50 to S&P BSE 200. The index will be total return index in the equity component from August 1, 2016 while the debt component will be total return since inception. Price return of S&P BSE 200 (equity component) will be used for computing index values prior to August 1, 2016. *Monthly income is not assured and is subject to the availability of distributable surplus.



Baroda Pioneer Gilt Fund (in %)^ 0.53 5.66 6.79 6.14

I-Sec Mi-BEX (Scheme Benchmark) (in %) 3.34 7.64 7.82 7.57

CRISIL 10 Year Gilt Index (Standard Benchmark)$ -2.39 5.51 5.14 6.27

` 10,000, if invested in BPGF, would have become ` 10,053 ` 11,803 ` 13,892 ` 26,256

` 10,000, if invested in I-Sec Mi-BEX, would have become ` 10,334 ` 12,480 ` 14,577 ` 32,621

` 10,000, if invested in CRISIL 10 Year Gilt Index, would have become ` 9,761 ` 11,751 ` 12,850 ` 26,804^Past performance may or may not be sustained in the future.Data is for for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.



Baroda Pioneer Income Fund (in %)^ 1.15 5.72 6.26 6.05

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 2.44 7.36 7.37 6.86

CRISIL 10 Year Gilt Index (Standard Benchmark) (in %)$ -2.39 5.51 5.14 6.27

` 10,000, if invested in BPIF, would have become ` 10,115 ` 11,820 ` 13,548 ` 25,909

` 10,000, if invested in CRISIL Composite Bond Fund Index, would have become ` 10,244 ` 12,383 ` 14,271 ` 29,293

` 10,000, if invested in CRISIL 10 Year Gilt Index, would have become ` 9,761 ` 11,751 ` 12,850 ` 26,804^Past performance may or may not be sustained in the future.Data is for Plan A - Growth Option. Plan A and Plan B (Direct) have different expense structures. The last working day of May has been considered in all cases. Returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period. Ms. Hetal Shah is managing the scheme along with Mr. Karn Kumar since June 06, 2018.


Funds Managed by Mr. Alok Sahoo and Mr. Karn Kumar

Funds Managed by Ms. Hetal Shah

Disclaimers: Nifty Bank Index and Nifty 100: Baroda Pioneer Large Cap Fund and Baroda Pioneer Banking and Financial Services Fund (“said Schemes”) offered by Baroda Pioneer Mutual Fund are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (“IISL”). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of the said Schemes or any member of the public regarding the advisability of investing in securities generally or in the said Schemes linked to Nifty 100 and Nifty Bank Index or particularly in the ability of the Nifty Bank Index to track general stock market performance in India. Please read the full disclaimers in relation to the Nifty 100 and Nifty Bank Index in the Offer Document / Prospectus / Information Statement.

S&P BSE 200: Baroda Pioneer Growth Fund and Baroda Pioneer ELSS’ 96 Fund (“said Schemes”) offered by Baroda Pioneer Mutual Fund are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (“IISL”). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of the said Schemes or any member of the public regarding the advisability of investing in securities generally or in the said Schemes linked to S&P BSE 200 or particularly in the ability of the S&P BSE 200 and to track general stock market performance in India. Please read the full disclaimers in relation to the S&P BSE 200 in the Offer Document / Prospectus / Information Statement.

S&P BSE Midcap Index is a product of AIPL, a joint venture among affiliates of S&P Dow Jones Indices LLC (“SPDJI”) and BSE Limited (“BSE”), and has been licensed for use by Baroda Pioneer Asset Management Company Ltd. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); BSE® is registered trademarks of BSE Limited; Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by AIPL and sublicensed for certain purposes by Baroda Pioneer Asset Management Company Ltd. Baroda Pioneer Mid-Cap Fund is not sponsored, endorsed, sold or promoted by SPDJI, BSE, Dow Jones, S&P or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P BSE Midcap Index.

*ICRA Credit Ratings: The rating indicates highest-credit quality rating assigned by ICRA Ltd. to debt funds. Schemes with this rating are considered to have very strong degree of safety regarding timely receipt of payments from the investments that they have made. This rating should however not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns. The rating should not be treated as a recommendation to buy, sell or hold the units issued by the Mutual Fund.

Funds Managed by Ms. Hetal Shah and Mr. Karn Kumar

22

Baroda Pioneer Multi Cap Fund(formerly known as Baroda Pioneer Growth Fund)

1 Year 3 Years 5 Years 7 Years 10 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 17,70,000 Total Value as on May 31, 2018 (Rs) 1,20,462 4,22,721 8,23,092 13,33,987 22,17,124 51,20,438 Returns (%) 0.72 10.73 12.61 12.99 11.81 13.28 Total Value of S&P BSE 200* (Rs) 1,25,807 4,50,983 8,69,287 14,25,108 24,79,466 54,00,862 S&P BSE 200* Returns (%) 9.14 15.22 14.83 14.84 13.90 13.91 Total Value of Nifty 50 (Rs) 1,27,190 4,47,024 8,35,245 13,51,080 23,20,976 51,31,017 Nifty 50 Returns (%) 11.35 14.60 13.21 13.35 12.67 13.31 * with effect from 2nd May 2016 the benchmark has been changed to S&P BSE 200.Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI). As TRI data is not available since inception of the Scheme, benchmark performance is calculated using composite CAGR of the benchmark index Price Return values from 12 Sep 2003 to 29 June 2007, and TRI values since 29 June 2007.

Baroda Pioneer ELSS’ 96 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 NA NA NA 3,90,000 Total Value as on May 31, 2018 (Rs) 1,21,117 4,27,703 NA NA NA 4,64,774 Returns (%) 1.74 11.53 NA NA NA 10.82 Total Values of S&P BSE 200* (Rs) 1,25,807 4,50,983 NA NA NA 4,91,541 S&P BSE 200* Returns (%) 9.14 15.22 NA NA NA 14.38 Total Value of Nifty 50 (Rs) 1,27,190 4,47,024 NA NA NA 4,85,904 Nifty 50 Returns (%) 11.35 14.60 NA NA NA 13.64 * with effect from 2nd May 2016 the benchmark has been changed to S&P BSE 200.Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI). As TRI data is not available since inception of the Scheme, benchmark performance is calculated using composite CAGR of the benchmark index Price Return values from 12 Sep 2003 to 29 June 2007, and TRI values since 29 June 2007.

Baroda Pioneer Hybrid Equity Fund(formerly known as Baroda Pioneer Balance Fund)


Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 17,70,000 Total Value as on May 31, 2018 (Rs) 1,22,228 4,25,289 8,07,404 12,92,388 21,39,776 39,95,331 Returns (%) 3.48 11.15 11.83 12.10 11.14 10.32 Total Values of CRISIL Hybrid 35+65 – Aggressive Index (Rs) 1,23,897 4,30,152 8,19,105 13,15,226 22,38,976 45,80,371 CRISIL Hybrid 35+65 – Aggressive Index (%) 6.11 11.93 12.42 12.59 11.99 11.96 Total Value of Nifty 50 (Rs) 1,27,190 4,47,024 8,35,245 13,51,080 23,20,976 51,31,290

Nifty 50 Returns (%) 11.35 14.60 13.21 13.35 12.67 13.31

The equity component of the index has been changed from Nifty 50 to S&P BSE 200. The index will be total return index in the equity component from August 1, 2016 while the debt component will be total return since inception. Price return of S&P BSE 200 (equity component) will be used for computing index values prior to August 1, 2016. Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).

Baroda Pioneer Mid-Cap Fund 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 8,40,000 NA 9,20,000 Total Value as on May 31, 2018 (Rs) 1,23,308 4,33,604 7,62,337 10,82,824 NA 11,67,622 Returns (%) 5.18 12.48 9.52 7.14 NA 6.11 Total Values of S&P BSE MidCap^^ (Rs) 1,19,544 4,53,256 9,80,213 16,38,571 NA 18,29,035 S&P BSE MidCap^^ Returns (%) -0.71 15.57 19.74 18.76 NA 17.49 Total Value of Nifty 50 (Rs) 1,27,190 4,47,024 8,35,245 13,51,080 NA 15,11,947 Nifty 50 Returns (%) 11.35 14.60 13.21 13.35 NA 12.67 ^^Scheme benchmark has been changed to S&P BSE Mid-cap index effective October 3, 2016.Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).

Baroda Pioneer Large Cap Fund 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 8,40,000 NA 9,60,000 Total Value as on May 31, 2018 (Rs) 1,20,228 4,09,018 7,84,035 12,11,374 NA 13,76,824 Returns (%) 0.35 8.48 10.65 10.29 NA 8.83 Total Values of Nifty 100^^ (Rs) 1,26,444 4,49,855 8,55,735 14,00,522 NA 16,61,440 Nifty 100^^ Returns (%) 10.16 15.04 14.19 14.35 NA 13.37 Total Value of Nifty 50 (Rs) 1,27,190 4,47,024 8,35,245 13,51,080 NA 15,99,946 Nifty 50 Returns (%) 11.35 14.60 13.21 13.35 NA 12.46 ^^Scheme benchmark has been changed to Nifty 100 effective October 3, 2016.Effective February 1, 2018, performance of the Scheme is benchmarked to the Total Return variant of the benchmark / standard benchmark index (TRI).

Baroda Pioneer Banking and Financial Services Fund 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 NA NA 7,20,000 Total Value as on May 31, 2018 (Rs) 1,26,894 4,57,607 8,91,280 NA NA 11,33,663 Returns (%) 10.88 16.24 15.84 NA NA 15.01 Total Value of Nifty Bank Index (Rs) 1,30,725 4,94,125 9,91,570 NA NA 12,91,763 Nifty Bank Index Returns (%) 17.07 21.72 20.21 NA NA 19.37 Total Value of Nifty 50 (Rs) 1,27,190 4,47,024 8,35,245 NA NA 10,80,960 Nifty 50 Returns (%) 11.35 14.60 13.21 NA NA 13.43

Baroda Pioneer Conservative Hybrid Fund(formerly known as Baroda Pioneer Monthly Income Plan (MIP) Fund)(Monthly income is not assured and is subject to the availability of distributable surplus)


Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 16,50,000 Total Value as on May 31, 2018 (Rs) 1,20,317 3,88,502 7,11,648 10,93,218 17,30,925 26,15,394 Returns (%) 0.49 5.02 6.77 7.41 7.12 6.42 Total Value of CRISIL Hybrid 85+15 - Conservative Index (Rs) 1,20,999 4,00,286 7,46,220 11,57,540 18,94,359 30,65,605 CRISIL Hybrid 85+15 - Conservative Index (%) 1.56 7.02 8.67 9.02 8.84 8.54 Total Value of CRISIL 10 Year Gilt Index Returns (Rs) 1,17,275 3,75,509 6,88,288 10,38,622 16,27,721 25,46,689 CRISIL 10 Year Gilt Index Returns (%) -4.21 2.76 5.44 5.98 5.94 6.06 ^Past performance may or may not be sustained in the future.For SIP calculations above, the data assumes the investment of `10000/- on 1st day of every month or the subsequent working day. Load & Taxes are not considered for computation of returns. Performance for dividend option would assume reinvestment of tax free dividends declared at the then prevailing NAV.CAGR returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return). Where Benchmark returns are not available, they have not been shown.

SIP Returns

23

Record Date Ex-Dividend NAV (Rs) Per Unit$ (Rs)

Baroda Pioneer Multi Cap Fund (formerly known as Baroda Pioneer Growth Fund) - Plan A - Dividend16-Mar-18 37.10 3.5023-Mar-17 35.86 2.50 24-Jun-16 33.72 2.80 Baroda Pioneer Multi Cap Fund (formerly known as Baroda Pioneer Growth Fund) - Plan B - Direct - Dividend16-Mar-18 36.88 3.5023-Mar-17 35.33 2.50 24-Jun-16 33.05 2.80 Baroda Pioneer ELSS 96 - Plan A - Dividend16-Mar-18 32.86 3.2523-Mar-17 32.07 2.50 22-Mar-16 28.50 2.50 Baroda Pioneer ELSS 96 - Plan B - Direct - Dividend16-Mar-18 38.61 3.2523-Mar-17 36.88 2.50 23-Feb-15 33.19 2.25 Baroda Pioneer Large Cap Fund - Plan A - Dividend16-Mar-18 12.09 0.75Baroda Pioneer Large Cap Fund - Plan B - Direct - Dividend16-Mar-18 12.56 0.75Baroda Pioneer Banking and Financial Services Fund - Plan A - Dividend16-Mar-18 17.11 1.7523-Mar-17 17.44 1.50 Baroda Pioneer Banking and Financial Services Fund - Plan B - Direct - Dividend16-Mar-18 17.89 1.7523-Mar-17 18.04 1.50 Baroda Pioneer Hybrid Equity Fund (formerly known as Baroda Pioneer Balance Fund)- Plan A - Dividend16-Mar-18 18.00 0.6029-Dec-17 19.05 0.50 27-Sep-17 18.06 0.50 Baroda Pioneer Hybrid Equity Fund (formerly known as Baroda Pioneer Balance Fund) - Plan B - Direct - Dividend16-Mar-18 19.78 0.6029-Dec-17 20.84 0.50 27-Sep-17 19.64 0.50 Baroda Pioneer Conservative Hybrid Fund (formerly known as Baroda Pioneer MIP Fund) - Plan A - Monthly Dividend*27-Mar-18 13.5213 0.0727-Feb-18 13.2733 0.0725-Jan-18 13.5444 0.07Baroda Pioneer Conservative Hybrid Fund (formerly known as Baroda Pioneer MIP Fund) - Plan B - Direct - Monthly Dividend*27-Mar-18 13.9402 0.0727-Feb-18 13.6687 0.0725-Jan-18 13.9263 0.07Baroda Pioneer Conservative Hybrid Fund (formerly known as Baroda Pioneer MIP Fund) - Plan A - Quarterly Dividend*16-Mar-18 13.0916 0.2029-Dec-17 13.2845 0.20 27-Sep-17 13.2248 0.20 Baroda Pioneer Conservative Hybrid Fund (formerly known as Baroda Pioneer MIP Fund)- Plan B - Direct - Quarterly Dividend*16-Mar-18 13.5264 0.2029-Dec-17 13.6800 0.20 27-Sep-17 13.5806 0.20 Baroda Pioneer Credit Risk Fund (formerly known as Credit Opportunities Pioneer Fund) - Plan A - Quarterly Dividend16-Mar-18 10.8066 0.2129-Dec-17 10.6908 0.21 27-Sep-17 10.9728 0.21Baroda Pioneer Credit Risk Fund (formerly known as Baroda Pioneer Credit Opportunities Fund) - Plan B - Direct - Quarterly Dividend25-May-18 11.1712 0.0727-Apr-18 11.2250 0.0716-Mar-18 11.2373 0.21Baroda Pioneer Credit Risk Fund (formerly known as Baroda Pioneer Credit Opportunities Fund) - Plan A - Monthly Dividend25-May-18 10.6605 0.0727-Apr-18 10.7215 0.0727-Mar-18 10.8538 0.07

Dividend History

Record Date Ex-Dividend NAV (Rs) Per Unit$ (Rs)Baroda Pioneer Credit Risk Fund (formerly known as Baroda Pioneer Credit Opportunities Fund) - Plan B - Direct - Monthly Dividend27-Mar-18 11.3481 0.0727-Feb-18 11.1996 0.0725-Jan-18 11.2492 0.07Baroda Pioneer Dynamic Bond Fund - Plan A - Dividend16-Mar-18 13.3863 1.0027-Jun-16 12.1528 0.40 22-Mar-16 12.5843 0.70 Baroda Pioneer Dynamic Bond Fund - Plan B - Direct - Dividend16-Mar-18 14.0540 1.0027-Jun-16 12.5981 0.40 22-Mar-16 13.0024 0.70 Baroda Pioneer Gilt Fund - Plan A - Dividend16-Mar-18 20.1217 1.5024-Jun-16 19.4927 1.20 22-Mar-16 20.3147 1.20 Baroda Pioneer Gilt Fund - Plan B - Direct - Dividend21-Mar-14 16.5462 2.70 Baroda Pioneer Liquid Fund - Plan A - Dividend04-Mar-05 1016.27 35.0006-Jan-04 1004.32 95.0013-May-02 1002.43 7.50Baroda Pioneer Short Term Bond Fund - Plan A - Monthly Dividend27-Mar-18 10.1269 0.1027-Feb-18 10.0297 0.0425-Jan-18 10.0342 0.06Baroda Pioneer Short Term Bond Fund - Plan B - Direct - Monthly Dividend27-Mar-18 10.1068 0.1027-Feb-18 10.0043 0.0425-Jan-18 10.0098 0.07Baroda Pioneer Short Term Bond Fund - Plan A - Quaterly Dividend16-Mar-18 10.2878 0.1729-Dec-17 10.1629 0.17 Baroda Pioneer Short Term Bond Fund - Plan B - Direct - Quaterly Dividend16-Mar-18 10.3099 0.1729-Dec-17 10.1696 0.17 Baroda Pioneer Treasury Advantage Fund Reg - Monthly Dividend27-Mar-18 1008.71 6.1327-Feb-18 1000.46 4.0325-Jan-18 1001.29 5.64Baroda Pioneer Treasury Advantage Fund - Plan A - Monthly Dividend27-Mar-18 1008.71 6.1327-Feb-18 1000.46 5.5725-Jan-18 1001.29 5.64Baroda Pioneer Treasury Advantage Fund - Plan B - Direct - Monthly Dividend27-Mar-18 1008.95 6.3527-Feb-18 1000.48 5.8325-Jan-18 1001.34 5.88Baroda Pioneer Treasury Advantage Fund Reg - Quarterly Dividend27-Jun-14 1006.66 23.3821-Mar-14 1011.22 7.7924-Jun-16 1036.72 14.45Baroda Pioneer Treasury Advantage Fund - Plan A - Quarterly Dividend16-Mar-18 1043.93 17.0029-Dec-17 1029.32 17.00 27-Sep-17 1030.50 17.00 Baroda Pioneer Treasury Advantage Fund - Plan B - Direct - Quarterly Dividend16-Mar-18 1052.29 17.0029-Dec-17 1036.95 17.00 27-Sep-17 1037.23 17.00 Baroda Pioneer Income Fund - Plan A - Dividend16-Mar-18 22.8426 1.7024-Jun-16 22.1257 1.40 Baroda Pioneer Income Fund - Plan B - Direct - Dividend16-Mar-18 23.1735 1.7024-Jun-16 22.1642 1.40

$ Face value is ` 10/- in all schemes other than Baroda Pioneer Liquid Fund and Baroda Pioneer Treasury Advantage Fund where the face value is ` 1,000/- per unit.*Monthly income is not assured and is subject to the availability of distributable surplus.# Pursuant to payment of dividend, the NAVs of the schemes would fall to the extent of payout and statutory levy (if applicable).

24

Karvy Computershare Private LimitedAddress and Contact details MFS Branches

• Bangalore [email protected] 080-26600785 • Belgaum [email protected] 0831 2402544 • Bellary [email protected] 08392 – 254750 • Davangere [email protected] 0819-2258714 • Dharwad [email protected] 0836- 2744207• Gulbarga [email protected] 0847-2310040 • Hassan [email protected] 08172 262065 • Hubli [email protected] 0836-2252444 • Mangalore [email protected] 0824-2496289 • Margoa [email protected] 0832-2731823 • Mysore [email protected] 0821-2438006 • Panjim [email protected] 0832-2426873 • Shimoga [email protected] 08182-228799 • Ahmedabad [email protected] 079-65445550 • Anand [email protected] 9662020623 • Ankleshwar [email protected] 02646 645326 • Baroda [email protected] 0265-6640870 • Bharuch [email protected] 02642-225022 • Bhavnagar [email protected] 278-3003149 • Gandhidham [email protected] 02836 651296 • Gandhinagar [email protected] 079-23244955 • Jamnagar [email protected] 0288-2558887 • Junagadh [email protected] 0285-2652220 • Mehsana [email protected] 02762-242950 • Nadiad [email protected] 0268-2563245 • Navsari [email protected] 02637-280367 • Rajkot [email protected] 2816545888 • Surat [email protected] 0261-3042170 • Valsad [email protected] 02632-258481 • Vapi [email protected] 9228012909 • Chennai [email protected] 044-42028512 • Alleppy [email protected] 0477 2263055 • Calicut [email protected] 0495-4022480 • Cochin [email protected] 0484 3000232 • Kannur [email protected] 0497-2764190 • Kollam [email protected] 0474-2747055 • Kottayam [email protected] 0481-2300868 • Malappuram [email protected] 0483-2731480 • Palghat [email protected] 491 6061110 • Thodupuzha [email protected] 0486-2211209 • Tiruvalla [email protected] 0469-3205676 • Trichur [email protected] 0487-3246231 • Trivandrum [email protected] 0471-2725728 • Coimbatore [email protected] 0422 - 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Contact Points:Toll Free Number: 1-800-267 0189 | Email: [email protected] | Website:www.barodapioneer.inRegistered OfficeBaroda Pioneer Asset Management Company Ltd.CIN : U65991MH1992PLC069414501 Titanium, 5th Floor, Western Express Highway, Goregaon (E), Mumbai - 400063.Phone: +91 22 3074 1000 / 4219 7999. Fax: +91 22 3074 1001.Branch OfficeBaroda Pioneer Asset Management Company Ltd.Flat No. 103 & 104, First Floor,Prakash Deep Building, 7 Tolstoy Marg, New Delhi - 110001. Phone: 011-43514662Baroda Pioneer Asset Management Company Ltd. HP Complex, Flat No.12, 3rd Floor, Door No. 124/1,2&3 New No. 14, G N Chetty Road,T.Nagar, Chennai - 600017 Phone: 044 - 2834 3530, Fax: 044 - 2834 3539Baroda Pioneer Asset Management Company LimitedG - 101 Ground Floor | SKI High Building |11/05 | Park Road | Hazaratganj | Lucknow-226001Mutual fund investments are subject to market risks,read all scheme related documents carefully.

Karvy Computershare Private LimitedAddress and Contact details MFS Branches

Documents

Mr. Sanjay Chawla · Mr. Sanjay Chawla& (Experience 29 Years) AAUM & AUM AAUM 677.53 Crs AUM 681.01 Crs Standard deviation 13.81% Sharpe@ 0.13 Beta 0.99 Portfolio Turnover (last 12