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The contents of this Value Research Fund Card (the "Fund Card") published by Value Research India Private Limited are not intended to serve as professional adviceor guidance and the publisher takes no responsibility or liability, express or implied, whatsoever for any investment decisions made or taken by the readers of thisFund Card based on its contents thereof. You are strongly advised to verify the contents before taking any investment or other decision based on the contents of thisFund Card. The Fund Card is meant for general reading purposes only and is not meant to serve as a professional guide for investors. The readers of this Fund Cardshould exercise due caution and/or seek independent professional advice before entering into any commercial or business relationship or making any investment deci-sion or entering into any financial obligation based on any information, statement or opinion which is contained, provided or expressed in this Fund Card.
The Fund Card contains information, statements, opinions, statistics and materials that have been obtained from sources believed to be reliable and the publishersof the Fund Card have made best efforts to avoid any errors and omissions, however the publishers of this Fund Card make no guarantees and warranties whatso-ever, express or implied, regarding the timeliness, completeness, accuracy, adequacy, fullness, functionality and/or reliability of the information, statistics, statements,opinions and materials contained and/or expressed in this Fund Card or of the results obtained, direct or consequential, from the use of such information, statistics,statements, opinions and materials. The publishers of this Fund Card do not certify and/or endorse any opinions contained, provided, published or expressed in thisFund Card. All disputes shall be subject to the jurisdiction of Delhi courts only.
Risk Grade –
Return Grade –
NAV –
Net Assets* –
Fundcard
ValueResearch w w w . v a l u e r e s e a r c h o n l i n e . c o m
* Quarterly Average
Average
Above Average
Rs. 212.17 as on Sep 21, 2012
HDFC Top 200
Value Research Fund Rating as on Aug 31, 2012
Rs. 11189.8 crore as on Jun 30, 2012
Open-end and Equity: Large & Mid Cap
ValueResearch w w w . v a l u e r e s e a r c h o n l i n e . c o m
Volatility Measurements
Standard DeviationSharpe RatioBetaR-SquaredAlpha
Risk Analysis
EquityDebtCash
Composition (%)
Trailing Returns (%)
Year-to-Date3-Month6-Month1-Year2-Year3-Year5-Year7-Year10-YearReturn less than 1-year are absolute and over 1 year are annualised
Return Rank SIPFund Category Fund/Cat Return
Quarterly Returns (%)Q1 Q2 Q3 Q4 Year
Company Sector P/E YTD % Assets
Top Holdings
NAV (Rs)Total Return (%)+/-+/-Rank (Fund/Category)52 Week High (Rs)52 Week Low (Rs)Net Assets (Rs.Cr)Expense Ratio (%)
Rating:Risk:Return:
History
Total StocksAvg Mkt Cap (Rs.Cr)Portfolio P/B Ratio Portfolio P/E Ratio 3Y Earnings Growth (%)
Fund
Top 10 Sector Weights (%)
Portfolio Characteristics
Returns as on
Growth Blend ValueInvestment StyleFUND STYLE
Large Medium
Small
Capitalisation
Fund
(Rebased to 10,000)
36/70
AverageAbove Average
22.66
-8.08-2.68-3.11-2.49
17.9251.0814.17
0.0323.6219.97
14.30
22.00
6.00
59.16
28.70
30.48
9.008.10
20/70
28.5027.30
6.6022.1023.80
S&P CNXNifty
Nifty
Fund Performance Vs S&P CNX Nifty
S&P CNX NiftyBSE 200
-6.65-27.45-18.61
S&P CNX Nifty
20.8916.29
17.00
0.17
14.50
17.7014.7049.50
10.3017.0031.3017.6020.40
26.0022.10
11.5112.0312.7017.51
33.00
0.90
24.6614.44
9.208.985.89
18/65
4.413.923.04
2.39
27.56
57/71
18.1312.0313.09
5.994.497.904.60
-
18.87
Engineering
EnergyFinancialServicesEnergyEnergyEnergyFinancialMetals
-41.6010.199.408.28
DiversifiedHealthcare
7.756.70
2002
26.1317.23
22.8810.66
1/26-
-67.48
-
6.555.994.193.923.382.99
-7.5010.878.958.98
2.65
22.0119.3424.0430.12
2012
212.1724.20
1.130.60
20/70212.17171.30
11189.82
1.77
----0.9017.88
2011
170.83-24.30
0.322.65
41/69
226.59168.05
10537.06
1.78
-24.30-8.92-11.61-1.41-4.62
Engineering
2010
225.6625.05
7.10
8.834/65
236.07168.44
9489.24
1.80
25.050.4015.505.921.81
Energy
2009
180.4694.46
18.705.95
10/61180.46
78.475909.76
1.89
94.465.0619.4855.33-0.27
-45.35
2008
Communication
92.80
6.44
11.115/59
173.7481.60
1949.27
1.87
-45.35-21.86-22.53 -12.25 2.89
Financial
2007
54.46169.79
-0.31-5.9826/48
169.79
97.942586.77
1.93
Metals
2006
37.44
109.92
-2.39-2.1419/41
111.21
73.821736.55
2.13
State Bank of India
Others
2005
55.2579.98
18.9121.45
3/3179.98
47.07875.57
2.21
ICICI Bank
2004
27.5251.52
16.84
11.83
10/2751.5232.99
623.82
2.25
ITC
2003
134.4740.40
62.5739.99
6/3540.40
16.61630.99
2.50
InfosysLarsen & ToubroTata Motors DVRHDFC BankTata Consultancy Services
1.37
Hindustan Unilever
0.96
-23.0722.4224.20
36.62
56/70
55.60
4/47
29.98
99.04
-6.1659.2080.4446.41
33
12.2329.86
September 21, 2012, Portfolio related data as on August 31, 2012
2.45
3.89
-14.576.085.814.02
32/67
0.94
-1.384.565.908.24
Financial
Financial
Energy
Financial
FMCG
FMCG
Technology
Technology
Diversified
Diversified
Healthcare
Automobile
Automobile
Financial
Metals
Technology
Services
FMCG2.612.482.392.37
HDFC Top 200
2.161.911.901.831.701.61
Reliance IndustriesBank of BarodaZee Entertainment Ent.
1/31
ONGCOil IndiaCoal IndiaHDFCTata SteelJai Prakash AssociatesLupin
1.561.381.341.311.21
19.21
-
Crompton GreavesBPCLBharti AirtelL I C Housing Fin.
0.00
Sterlite IndustriesOthers
2/17
2012
2011
1.56
201020092008
68308
8.213.303.969.35
ValueResearch w w w . v a l u e r e s e a r c h o n l i n e . c o m
Fund Objective & StrategyValue Research AnalysisBest Performance
AMC :Website :Registrar :Launch :Benchmark :Plans (NAV) :
Min Investment (Rs.) :Min SIP Investment (Rs.) :Exit Load :
YEAR
NAV
QUARTER
MONTH
Worst PerformanceYEAR
QUARTER
MONTH
All the graphs are rebased to 10,000
Portfolio Manager
Investment Information
When most of the funds find it difficult to handle rising asset size and seea dip in performance, HDFC Top 200 shows no signs of tiring. This year,in the first quarter when the category on an average lost 6.01 per cent,the fund limited its fall to 4.62 per cent. Till August 31, 2011, the fund hadlimited its YTD loss to more or less the category average.With Rs 10,692 crore (September 30, 2011) of assets under management,it is not only the biggest equity fund in India but is also the second bestperformer in its category over the 10-year period ended September 30,2011.Continuity at helm and skilled management has helped the fund build acompetitive track record over the long-term. Jain has been managing thefund since 2002. Although the funds performance in 2007 got investorsworried, he silenced critics with a 94.46 per cent return in 2009. In thesubsequent year it was the fourth best performer in its category with areturn of 25.05 per cent.The funds investment universe comprises of any company that is a partof the BSE 200 or qualifies to be a part of that index, including initial publicofferings. The fund targets around 60 per cent of the portfolio in the BSE200 stocks. As per its June 2011 portfolio, the fund was holding close to92 per cent of its assets in BSE 200 stocks. Having said that, the portfolioof the fund is actively managed and the fund can be underweight or overweight on any stock compared to its benchmark.This fund has protected investors wealth during market meltdowns. In2008, the funds loss of 45.35 per cent was around 11 per cent less thanthe BSE 200 and around 8 per cent lower than the category average. Andwhats noteworthy is that Jain did it without resorting to aggressive cashcalls. The cash and debt exposure of the fund averaged around 3.23 percent in 2008. The increased exposure to less hit sectors like FMCG andHealthcare came to the aid of the fund.As the fund has grown in size, concentration of the top three sectors hasincreased from around 41.61 per cent (August 2008) to 51 per cent atpresent. However, the number of stocks is pretty significant at 64 and theconcentration of the top five has dipped to around 28 per cent over thepast year; in the past it was known to cross 40 per cent at times.A quality portfolio and a manager who sticks to his conviction, irrespectiveof whoever else is playing the momentum game, is a mark of this fund.Investors may fret occasionally but Jain has a knack of rewarding investorswho stick with the fund.
Since May 2012
S&P CNX Nifty
The scheme seeks capitalappreciation and would investup to 90 per cent in equity andthe remaining in debtinstruments. Also, the stockswould be drawn from thecompanies in the BSE 200Index as well as 200 largestcapitalised companies in India.
Computer Age Management Services Ltd.500
5000HDFC Asset Management Company Ltdwww.hdfcfund.com
1% for redemption within 365 days
BSE 200
154.57%
88.14%
33.09%
-48.09%
-42.90%
-30.45%
September 1996
Since Jan 2002Prashant Jain
Dividend (41.64) , Growth (212.17)
Rakesh Vyas
Birla Sun Life Frontline Equity Fund
Volatility Measurements
Standard Deviation 28.32
Sharpe Ratio 0.21
Beta 0.88
R-Squared 0.96
Alpha 4.77
Risk Analysis
Equity 71.37Debt 18.46Cash 10.17
Composition (%)
Trailing Returns (%)
Year-to-Date -48.50 -55.29 34/192 -51.79 -40.183-Month -18.97 -22.88 41/213 -24.53 -0.866-Month -20.78 -27.09 38/209 -26.76 -33.431-Year -48.50 -55.29 34/192 -51.79 -40.182-Year -8.59 -16.06 22/158 -13.63 -24.193-Year 7.27 -1.39 12/134 1.42 -9.435-Year 16.27 12.91 19/67 9.50 9.907-Year - - - - -10-Year - - - - -Return less than 1-year are absolute and over 1 year are annualised
Return Rank S&P SIPFund Category Fund/Cat CNX Nifty Return
Quarterly Returns (%)
2008 -24.24 -14.18 -2.23 -18.97 -48.502007 -1.42 14.53 16.01 23.88 62.262006 19.42 -7.25 19.39 11.70 47.702005 -0.04 6.52 23.26 8.02 41.772004 0.71 -13.50 15.08 21.15 21.46
Q1 Q2 Q3 Q4 Year
Fund Performance Vs S&P CNX Nifty
Company Sector P/E 2008 Ret % Assets
Top Holdings
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
NAV (Rs) - - - - 10.33 19.71 23.94 33.94 50.13 81.34 41.89
Total Return (%) - - - - - 90.80 21.46 41.77 47.70 62.26 -48.50
+/-S&P CNX Nifty (%) - - - - - 18.90 10.78 5.43 7.87 7.49 3.29
+/-BSE 200 (%) - - - - - -3.67 5.77 7.97 8.12 1.82 7.96
Rank (Fund/Category) - - - - - 54/70 50/79 65/101 27/145 71/162 34/192
52 Week High (Rs) - - - - 10.33 19.71 23.94 33.94 50.76 81.46 83.52
52 Week Low (Rs) - - - - 8.84 9.91 16.36 22.34 32.26 46.06 36.49
Net Assets (Rs.Cr) - - - - 51.40 15.15 9.11 140.54 124.74 374.84 343.03
Expense Ratio (%) - - - - 2.49 2.50 2.50 2.50 2.50 2.35 2.31
Rating:Risk: LowReturn: Above Average
90000
70000
50000
30000
10000
History
Total Stocks 39
Avg Mkt Cap (Rs.Cr) 28180
Portfolio P/B Ratio 3.03
Portfolio P/E Ratio 13.70
3Y Earnings Growth (%) 9.80
Financial 16.24 11.90Energy 14.67 37.49Communication 8.00 11.34Technology 7.16 10.95FMCG 6.29 6.85Health Care 5.00 2.74Engineering 4.01 5.26Metals 3.07 4.43Services 2.93 0.28Diversified 1.43 2.97
Fund Nifty
Top 10 Sector Weights (%)
Portfolio Characteristics
Returns as on 31st December 2008, Portfolio related data as on 30th November 2008
Bharti Airtel Communication 18.56 -28.10 6.49Reliance Industries Energy 11.50 -57.30 5.42ONGC Energy 8.31 -46.00 4.50HDFC Bank Financial 20.67 -42.26 3.93HDFC Financial 17.10 -48.21 3.51Satyam Computer Services Technology 7.86 -62.12 3.16ITC FMCG 21.00 -18.47 2.72Axis Bank Financial 10.42 -47.82 2.70Infosys Technologies Technology 14.29 -36.79 2.64United Spirits FMCG 23.26 -55.48 2.34ICICI Bank Financial 9.49 -63.62 2.26Dr. Reddy's Lab Health Care 13.61 -36.12 2.19State Bank of India Financial 9.39 -45.67 2.13Crompton Greaves Engineering 12.29 -65.84 2.12Indian Oil Energy -- -46.33 1.95Cipla Health Care 22.87 -12.09 1.70Sterlite Industries Metals 11.81 -74.80 1.61Reliance Communications Communication 22.87 -69.56 1.51Jindal Steel & Power Metals 7.07 -70.31 1.46Larsen & Toubro Diversified 17.65 -62.88 1.43Zee Entertainment Services 16.01 -57.45 1.41CESC Energy 6.21 -62.11 1.37Tata Consultancy Services Technology 12.79 -55.87 1.36ING Vysya Bank Financial 8.89 -50.78 1.35Nestle India FMCG 26.11 -3.14 1.23
Growth Blend ValueInvestment StyleFUND STYLE
Large Medium
Small
Capitalisation
FundS&P CNX Nifty
(Rebased to 10,000)
How to Read the Fundcard - Equity
Value Research Rating, Risk and ReturnFund Rating — The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that an equity fund has generated over the pre-vious three and five years, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type.Risk Grade — A five-step grading of the riskiness of a fund, based on the losses it has suffered during the past five years. This grade is relative toother fund of the same type.Returns Grade — A five-step grading of the returns of a fund. This grade is relative to other fund of the same type.
HistoryData on the fund’s performancesince its launch.
NAV (Year End) — The lastNAV of each year.Total Return — The percent-age returns that an investorwould have got over theyear.+/- — In the given year, acomparison of the fund’sreturns with that of two stockmarket indicesRank — The fund’s perform-ance rank within its categoryfor the year and the totalnumber of funds out ofwhich it has been ranked.52-Week NAV Range — Thehighest and the lowest NAVthat the fund recorded dur-ing that yearNet Assets — The totalamount of investor’s assetsthat the fund was managingat the end of the year.Expense Ratio — The per-centage of the average dailyassets that the fund chargedas its management expens-es during the year.
Trailing Returns (%)Performance data for various stan-dard periods. All returns are in per-centage. Periods greater than ayear are annualised, shorter peri-ods are not.
Fund — The fund’s ownreturns.Category — The averagereturns for all funds in the cate-gory.Rank — The funds rank, out ofthe total number of funds in thecategoryIndex — The returns of thefund’s benchmark index.SIP Return (Annualised) —The return that an investorwould have made by investingin the fund’s monthly systemat-ic investment plan over theperiod.
Quarterly Returns (%)The funds’ returns over each quar-ter of the last five years, along withthe entire year’s returns.
Fund Performance Vs IndexGraph of how an investors’ moneywould have grown in the fund sinceits launch. A similar graph of thefund’s benchmark index is alsogiven. For ease of comparison,both have been adjusted to start at10,000.
Risk AnalysisA range of statistical measures thatcan be used to evaluate the per-formance, risk, and return of amutual fund.
Top HoldingsA detailed report on the latestinvestment portfolio that the fundis holding. For each company,the sector, the P/E ratio, and theyear’s returns are given. Alsostated is the percentage of thefund’s investments that areinvested in that company.
Portfolio CharactersticsAggregate measures regardingthe fund’s investments. The mar-ket capitalisation, P/B ratio andP/E ratio are weighted averagesof the latest numbers of the com-panies that the fund is investedin. Three Year Earnings Growthis the weighted average of thecompounded average growth inthe net profits of each company.
Fund StyleA nine-cell matrix of the overall styleof investment that the fund follows,based on its latest portfolio. On thevertical axis, the three steps denotethe weighted average market capital-isation of the fund’s investments. Thehorizontal axis denotes, on a weight-ed average basis, whether the com-panies that the fund has invested inare value stocks, growth stocks, or ablend of the two.
Top 10 SectorWeights (%)The percentage ofthe equity invest-ments of the fundthat fall under eachsector of the econo-my. The top 15 sec-tors for each fundare given.
Composition (%)The proportion ofthe fund’s holdingsthat are held ineach of the threebasic types ofassets.
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