October 2015 l Issue No.

48

www.sharekhan.com

Sharekhan's top fund picks

Top equity picks

Data as on September 11, 2015

Scheme name

Star
rating

Large-cap funds
SBI Bluechip Fund
Birla Sun Life Frontline Equity Fund
Reliance Top 200 Fund
Mid-cap funds
Mirae Asset Emerging Bluechip Fund
Religare Invesco Mid N Small Cap Fund
Kotak Emerging Equity Scheme

1 year

27.3
155.3
23.0

-4.8
-7.0
-7.5

9.6
5.1
6.2

22.5
21.5
20.8

12.4
11.6
11.9

11.1
23.4
10.8

29.6
34.1
25.4

-1.4
-5.8
-2.7

17.7
11.9
18.7

34.8
31.5
30.0

21.2
16.7
13.8

23.3
17.8
11.7

37.1
28.4
151.2

-3.3
-5.6
-4.0

7.0
13.4
10.8

32.7
31.4
23.9

15.1
15.5
11.4

19.2
13.7
14.8

30.1
21.0
26.5

-4.4
-4.6
-4.9

14.1
16.9
15.8

30.9
26.2
25.3

19.6
11.4
13.3

21.3
10.3
11.5

Tax-saving funds
Axis Long Term Equity Fund
Birla Sun Life Tax Relief 96
Birla Sun Life Tax Plan

Returns (%)
Compounded annualised
3 years
5 years Since inception

Absolute
6 months

Multi-cap funds
Birla Sun Life Pure Value Fund
Franklin India High Growth Companies Fund
SBI Magnum Multiplier Fund

Top SIP picks

NAV (Rs)

(monthly SIP of Rs1,000)

(*invested on 1st day of every month)

Data as on September 11, 2015

Investment period
Total amount invested (Rs)
Funds would have grown to (Rs)

Nav
(Rs)

Large-cap funds
SBI Bluechip Fund
Reliance Top 200 Fund
Birla Sun Life Frontline Equity Fund
Multi-cap funds
L&T India Value Fund
Franklin India High Growth Companies Fund
ICICI Prudential Value Discovery Fund
Mid-cap funds
Mirae Asset Emerging Bluechip Fund
Kotak Emerging Equity Scheme
HDFC Mid-Cap Opportunities Fund
Tax-saving funds
Axis Long Term Equity Fund
Birla Sun Life Tax Relief 96
Birla Sun Life Tax Plan

1 year
12,000
Present Avg. annual
value (Rs)
return (%)

3 years
36,000
Present Avg. annual
value (Rs)
return (%)

27.3
23.0
155.3

12,002.9
11,682.6
11,677.6

0.0
-2.9
-2.8

49,031.6
48,504.4
47,215.1

11.2
10.8
9.6

96,193.1
93,042.6
91,452.2

10.1
9.3
8.9

24.0
28.4
110.6

12,335.7
11,917.4
11,980.4

3.1
-0.8
-0.2

56,557.1
55,650.6
55,507.3

16.7
16.1
16.0

111,082.8
111,887.4
111,470.4

13.3
13.5
13.4

29.6
25.4
36.7

12,412.5
12,270.1
12,143.9

3.8
2.5
1.3

60,482.1
58,353.3
56,440.8

19.5
18.0
16.7

124,957.5
112,954.5
112,684.0

16.1
13.7
13.7

30.1
21.0
26.5

12,185.7
12,150.9
12,107.4

1.7
1.4
1.0

55,750.3
52,603.0
51,846.8

16.2
13.9
13.3

114,091.2
100,742.5
100,137.8

14.0
11.1
11.0

SIP calculator

Crorepati calculator

Monthly SIP of Rs5,000

Target: Rs10,000,000

Expected
rate of
returns
(pa)
8%
10%
15%
25%

Expected maturity value of

your monthly investment (Rs)
5
369,834
390,412
448,408
599,222

Years to achieve financial goal

10
20
920,828
1,032,760
1,393,286
2,664,023

2,964,736
3,828,485
7,579,775
34,295,476

5 years
60,000
Present Avg. annual
value (Rs) return (%)

25

4,786,833
6,689,452
16,420,369
118,774,708

Expected
rate of
returns
(pa)
8%
10%
15%
25%

Expected investment per month

to achieve your goal (Rs)
5
135,196
128,070
111,506
83,442

Years to achieve financial goal

10
15
54,299
48,414
35,887
18,769

28,708
23,928
14,775
5,114

20
16,865
13,060
6,597
1,458

For Private Circulation only

REGISTRATION DETAILS Regd office: Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station,
Kanjurmarg (East), Mumbai 400042, Maharashtra. Tel: 022 - 61150000. Sharekhan Ltd.: SEBI Regn. Nos. BSE - INB/INF011073351 ; BSE- CD ; NSE - INB/INF231073330;
CD-INE231073330 ; MCX Stock Exchange - INB/INF261073333 ; CD-INE261073330 ; DP - NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DP-CDSL-271-2004 ; PMS-INP000000662 ;
Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080 ; (MCX/TCM/CORP/0425) ; NCDEX-00132 ; (NCDEX/TCM/CORP/
0142) ; NCDEX SPOT-NCDEXSPOT/116/CO/11/20626 ; For any complaints email at igc@sharekhan.com ; Disclaimer: Client should read the Risk Disclosure Document
issued by SEBI & relevant exchanges and Dos & Donts by MCX & NCDEX and the T & C on www.sharekhan.com before investing.

Sharekhan Mutual Fund Finder

Mutual fund
Benefits of MF-IN-DEMAT

Simplicity & ease: You can purchase/redeem/flexi SIP in over

1,000 schemes through NSE.

Instant order placement: Now you can place or modify orders

instantly between 9.00am and 2.00pm.

period of three years as compared with the other tax saving

avenues. A mandatory lock-in for three years inculcates a longterm investment habit.

Dematerialised mutual fund units: You can transfer your existing mutual fund portfolio to your demat account.

Superior return: Investments in equity over a long term have

historically delivered better returns than the "guaranteed return" avenues.

Single view of all your holdings: You will have a consolidated

demat statement showing a single view of all your holdings in
equities and mutual funds across AMCs.

Tax-free gain: Dividends and long-term gains are tax-free (these

schemes give you the twin options of tax savings and capital gains).

SIP: Investors can opt for a systematic investment plan and keep
on investing small amounts periodically, say on a monthly basis.

Instant transaction proof: You can view order details instantaneously on placing orders on the MF-IN-DEMAT platform.

No additional KYC: For demat account holders, no additional

KYC is needed.

Knowledge Today
ETF Fund: An ETF, or exchange-traded fund, is a marketable
security that tracks an index, a commodity, bonds, or a basket
of assets like an index fund. Unlike mutual funds, an ETF trades
like a common stock on a stock exchange. The ETFs experience
price changes throughout the day as they are bought and sold.
The ETFs typically have higher daily liquidity and lower fees
than mutual fund shares, making them an attractive alternative
for individual investors.

Systematic Investment Plan (SIP)

Disciplined investing: Through SIP you can choose to invest

fixed amounts (as low as Rs500) in a mutual fund scheme at
regular intervals (like every month or every quarter) for a chosen period of time (say for a year).

Accumulate wealth: Set aside a small amount every month through

SIP and achieve financial goals like buying a car or a house.

Beat inflation: Equity investing can help you combat inflation

that diminishes the value of your savings.

Rupee cost averaging: A regular investment in a mutual fund

scheme can reduce the cost of acquiring mutual fund units over
a longer period as you end up buying more units when the price
is low and fewer units when the price is high.

How to place orders in Sharekhan MFIN-DEMAT

Log on to www.sharekhan.com and click on Login.

Click on Mutual Funds.

A welcome screen will be displayed after accepting terms and

conditions.

For the first time log in on the online mutual fund page; click
and accept terms and conditions.

Click on Place Order.

Transfer funds from the bank account to the mutual fund pool
account or allocate funds from the trading account to the
mutual funds pool account.

Tax waiver (ELSS): Tax benefit on investments up to Rs150,000.

Select scheme available under MF-IN-DEMAT and confirm order.

Lower lock-in-period: These schemes have a lower lock-in

Successful order placement page is displayed.

Fewer efforts: You can start an SIP by simply placing an order

by logging on to Sharekhan's online mutual fund page. Click on
the "SIP" button and fill in the SIP amount, SIP date etc and
provide the information asked by the system.

Tax-saving mutual fund schemes

Fund ranking procedure

Top equity funds: We have identified the best equity-oriented
schemes available in the market today based on the following five
parameters: the past performance as indicated by the one-year,
two-year and three-year returns, the Sharpe ratio and Information ratio.

by at least 10% of the average category-corpus, the past performance

as indicated by one-year, three-year and five-year returns and the
risk returns ratios, namely Sharpe, Information and Sortino.
Sharekhan mutual fund ranking scale

For our final selection of schemes, we have generated a total score

for each scheme giving 60% weightage each to the relative
performance as indicated by the one-year, two-year and threeyear returns, 20% weightage to the relative performance as indicated
by the Sharpe ratio and the remaining 20% to the relative
performance as indicated by the Information ratio of the scheme.

Description

For top 10 percentile of the eligible schemes

Next 22.5 percentile of the eligible schemes
Next 35 percentile of the eligible schemes
Next 22.5 percentile of the eligible schemes
Bottom 10 percentile of the eligible schemes

Top SIP funds: We have identified the best equity scheme for SIP
investment based on three parameters: minimum corpus as indicated

Sharekhan

Stars

October 2015

Sharekhan Mutual Fund Finder

Fund of the month

Kotak Emerging Equity Scheme

Fact sheet

Holdings by market cap

The investment objective of this scheme is to generate longterm capital appreciation from a portfolio of equity and equity
related securities, by investing predominantly in mid- and smallcap companies.

Kotak Emerging Equity Scheme - Reg - Growth

Mid-Cap Funds Average

19.2

Top 10 holdings

27.1

% of net assets

3.3

The Ramco Cements

3.0

Persistent Systems

2.7

Torrent Pharmaceuticals

2.4

Solar Industries India

2.4

Shriram City Union Finance

2.4

Large-cap

V-Guard Industries

2.3

Mid-cap

Strides Arcolab

2.3

Small-cap

Federal Bank

2.2

5.5

5.0
0.0
6 Months
-2.6
-2.7

15.3

IndusInd Bank

5.6

-2.7

Top 5 holdings

3.6

11.7

10.0

-5.0

6.6

Whirlpool of India

13.8 14.9

14.1

15.0

19.9

CNX Small-cap

Company name

21.8
19.4

18.7

6.6

Top 10 stock holdings (total no. of stocks: 62)

25.0
20.0

CNX Nifty

BSE MID CAP

30.0 29.6

30.0

CNX Mid-cap

Schemes performance
35.0

Particular

1 Year

3 Years

5 Years

Since Inception

Returns < 1 yr: Absolute, >1yr: CAGR

Style box analysis

Growth Blend Value

Top 5 sectors
6.0

Construction and
Current Assets

Scheme analysis

6.6
8.0

Industrial Products
Pharmaceuticals &

With more than 12 years of experience, the fund has been a decent
performer in comparison with both the benchmark index, BSE midcap, and the category average. Despite the volatility and
uncertainties in the market, the fund has performed better than its
peers, giving returns of 18.7% over one year as against that of 5.6%
and 14.1% given by the benchmark index and the category average,
respectively, in the same period. Over the longer time horizon of
three years, the fund has grown at 30.0% compounded annual growth
rate (CAGR) while the BSE mid-cap index and the category average
have grown at 19.4% and 29.6% respectively. In the recent months,
the fund has garnered returns of -2.7% as compared with -2.7% and
-2.6% returns posted by the benchmark index and the mid-cap funds
category average, respectively.

8.5

Banks

9.2
0.0

2.0

4.0

6.0

8.0

10.0

Key features
Fund category

: Mid-cap funds

Launch date

: March 30, 2007

Minimum investment : Rs5,000

Load structure

: Entry load is nil/If redeemed bet.

0 year to 1 year, exit load is 1%

Fund manager

: Pankaj Tibrewal

Latest NAV (gr.)

: Rs25.4

Latest NAV (div.)

: Rs19.7

Expense ratio (%)

: 2.5

AUM

: Rs673.47 crore

Benchmark index

: BSE mid-cap

The fund currently has about 62 stocks in its portfolio. It has nearly
93% of its net assets exposed to equity while the rest is exposed to
other money-market instruments. The top ten stocks form about
27% of the portfolio. The fund has invested nearly 9.2% of its funds
in the banking sector followed by pharmaceutical and industrials
with 8.5% and 8.0% allocations respectively.

Sharekhan

October 2015

Sharekhan Mutual Fund Finder

Performance of debt funds and ETFs

Top fund picks (debt)

Data as on September 16, 2015

Returns (%) (simple annualised)

1
3
6
1
AAUM **
(Rs cr)
mth
mths
mths
yr

Scheme name

Exp*
ratio (%)

Accruals
Birla Sun Life Medium Term Plan

4,045.5

DWS Corporate Debt Opportunities Fund

Franklin India Corporate Bond Opportunities Fund

5.3

10.3

8.9

10.9

1.3

Tax rates for debt funds

Ind./HUF

Corp.

NRI

(in %)

(in %)

(in %)

Dividend Distribution Tax

(payable by the scheme)
Debt schemes
28.84^ 34.608**
Money mkt schemes
28.84^ 34.608**

28.84^
28.84^

Scheme

90.3

5.6

8.6

8.9

1.7

8,589.6

2.9

8.5

8.2

10.5

1.8

Ind./HUF

Corp.

NRI

393.5

9.0

9.0

1.9

14.1

1.7

(in %)

(in %)

(in %)

1,559.9

10.3

10.8

2.0

13.3

1.0

564.8

8.3

8.4

2.3

11.1

1.6

5,375.5

8.7

9.0

2.0

11.9

1.7

Long-term capital gain

(investments > 36 months)
Debt schemes
Without indexation
With indexation
20#
Short-term capital gain
(investments = or < 36 months)
Debt schemes*
30#

20**

10% ^
20# ^

30**

30# ^

^(25% + 12 % Surcharge + 3% cess)

**(30% + 12 % Surcharge + 3% cess)
Scheme

Duration Bonds
Franklin India G-Sec-LTP (G)
ICICI Pru Long Term Gilt Fund
HSBC Flexi Debt Fund (G)
Reliance Dynamic Bond (G)
Ultra Short term
Birla SL Savings Fund (G)

9,460.9

7.3

8.5

9.1

9.3

0.2

Franklin India Ultra Short Bond Fund (G)

7,528.6

8.6

9.1

9.6

9.8

0.9

12,161.8

7.4

8.5

8.9

9.2

0.2

ICICI Pru Flexible Income Plan-Reg (G)

Liquid
Birla SL Cash Plus (G)

23,838.8

7.6

7.9

8.5

8.7

0.1

788.1

7.5

7.8

8.2

8.6

0.2

Franklin India TMA (G)

7,080.1

7.7

7.9

8.5

8.8

0.9

HDFC Liquid Fund (G)

19,754.4

7.7

8.0

8.4

8.7

0.1

BNP Paribas Overnight Fund (G)

Exchange traded funds (ETF)

Scheme name

Data as on September 11, 2015

AMC/Index

NAV (Rs)

Returns (%)

as on
ETF based on commodity (gold)
Axis Gold ETF
Birla Sun Life Gold ETF
Canara Robeco Gold ETF
GS Gold BeES
HDFC Gold ETF
ICICI Prudential Gold ETF
IDBI Gold ETF
Kotak Gold ETF
Quantum Gold Fund - Growth
R* Shares Gold ETF - Dividend
Religare Invesco Gold ETF
SBI Gold ETS
UTI Gold ETF
ETF based on international indices
GS Hang Seng BeES
MOSt Shares NASDAQ 100
ETF based on equity (index)
Birla Sun Life Nifty ETF
GS Bank BeES
GS Infra BeES
GS Junior BeES
GS Nifty BeES
GS PSU Bank BeES
GS Shariah BeES
ICICI Prudential Nifty ETF
ICICI SENSEX Prudential Exchange Traded Fund
Kotak Nifty ETF
Kotak PSU Bank ETF
Kotak Sensex ETF
MOSt Shares M100
MOSt Shares M50
Quantum Index Fund - Growth
R* Shares Banking ETF
R*Shares CNX 100 Fund
Religare Invesco Nifty ETF
SBI Sensex ETF

#Surchage at 12% is to be levied in case of

individual/HUF unit holders when their income
exceeds Rs1 crore
**Surchage at 7% is to be levied for domestic
corporate unit holders when their income exceeds
Rs1 crore but less than Rs10 crore and
^Short-term/long-term capital gain tax will be
deducted at the time of redemption in case of NRI
investors only
*Assuming investors fall in the highest tax bracket

Absolute

Compounded annualised

August 07, 2015

1 month

3 months

6 months 1 year 3 years Since inception

Axis
Birla Sun Life
Canara Robeco
Goldman Sachs
HDFC
ICICI
IDBI
Kotak
Quantum
Reliance
Religare
SBI
UTI

2,472.7
2,536.5
2,493.7
2,424.1
2,477.6
2,503.8
2,535.4
242.2
1,209.9
2,360.9
2,500.6
2,487.8
2,426.4

3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2

-2.7
-2.7
-2.2
-2.7
-2.7
-2.6
-2.7
-2.7
-2.7
-2.7
-2.7
-2.7
-2.7

0.4
0.6
-0.7
0.5
0.4
0.2
0.4
0.4
0.4
0.2
0.4
0.4
0.4

-4.3
-4.5
-5.5
-4.1
-4.3
-4.5
-4.2
-4.4
-4.3
-4.7
-4.6
-4.3
-4.3

-7.6
-7.5
-8.1
-7.5
-7.6
-7.4
-7.6
-7.7
-7.5
-7.6
-7.5
-7.5
-7.6

4.2
3.0
-3.4
11.7
6.5
5.7
-3.5
13.2
9.9
11.4
7.5
8.8
11.8

Goldman Sachs
Motilal Oswal

2,118.9
284.1

-8.4
-2.2

-15.5
-0.4

-1.8
5.0

-2.5
14.1

11.9
22.6

10.2
25.5

CNX NIFTY
Bank Nifty
CNX Infrastructure
Junior Nifty
CNX NIFTY
CNX PSU Bank
Nifty Shariah
CNX NIFTY
BSE Sensex
CNX NIFTY
CNX PSU Bank
BSE Sensex
CNX MIDCAP
CNX NIFTY
CNX NIFTY
CNX Bank
CNX 100
CNX NIFTY
BSE Sensex

81.0
1,676.6
292.5
196.3
787.9
332.2
180.3
80.2
260.4
788.0
305.6
259.7
13.3
74.9
825.0
1,799.3
80.5
792.8
266.7

-7.7
-10.8
-10.8
-8.7
-7.9
-13.0
-7.3
-7.8
-7.9
-7.8
-13.1
-8.0
-9.1
-7.9
-7.9
-10.8
-8.0
-7.9
-7.9

-1.7
-3.7
-7.6
4.0
-1.8
-4.8
0.3
-1.7
-2.3
-1.7
-4.8
-2.4
3.0
-1.9
-1.8
-3.7
-1.0
-1.9
-2.4

-9.4
-12.1
-11.5
-0.7
-9.7
-17.4
-5.0
-9.6
-9.5
-9.6
-17.5
-9.7
-2.9
-10.0
-9.7
-11.9
-8.7
-9.9
-8.8

-2.3
3.1
-10.5
10.9
-2.8
-17.3
-2.1
-2.7
-4.0
-2.6
-17.3
-4.2
7.3
-34.4
-2.8
3.4
-1.1
-3.2
-3.1

14.1
18.8
8.6
24.4
14.2
4.5
14.4
-13.9
14.2
4.4
14.0
21.1
0.8
14.2
19.1
-13.7
--

9.6
19.3
-4.8
23.6
17.1
3.2
17.0
14.8
18.4
9.1
1.9
8.2
11.8
-0.8
10.6
17.9
16.3
9.3
13.6

Disclaimer
Nothing in this report constitutes investment advice or tax advice in any form and these products may or may not be suitable for you. Investors should make independent judgment taking into account specific investment objectives, financial situations and needs before taking any investment
decision. Mutual fund investments are subject to market risk. Please read the offer document carefully before investing. Past performance may or may not be sustained in the future.
This document has been prepared by Sharekhan Ltd. (SHAREKHAN) and is intended for use only by the person or entity to which it is addressed to. This document may contain confidential and/or privileged material and is not for any type of circulation and any review, retransmission, or any
other use is strictly prohibited. This document is subject to changes without prior notice. This document does not constitute an offer to sell or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all customers
who are due to receive the same, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report.
The information contained herein is obtained from publicly available data or other sources believed to be reliable and SHAREKHAN has not independently verified the accuracy and completeness of the said data and hence it should not be relied upon as such. While we would endeavour to update
the information herein on a reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (SHAREKHAN and affiliates) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons
that may prevent SHAREKHAN and affiliates from doing so. Sharekhan provides non-advisory/order execution services for Mutual Funds. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. Mutual fund
investments are subject to market risk. Please read the offer document carefully before investing. Also, Recipients of this report should also be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well. The user assumes the
entire risk of any use made of this information. Each recipient of this document should make such investigations as he deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved),
and should consult his own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of SHAREKHAN may have issued other
reports that are inconsistent with and reach different conclusion from the information presented in this report.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would
subject SHAREKHAN and affiliates to any registration or licencing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required
to inform themselves of and to observe such restriction. Either SHAREKHAN or its affiliates or its directors or employees/representatives/clients or their relatives may have position(s), make market, act as principal or engage in transactions of purchase or sell of securities, from time to time
or may be materially interested in any of the securities or related securities referred to in this report and they may have used the information set forth herein before publication. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company
mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. The analyst certifies that all of the views expressed
in this document accurately reflect his or her personal views about the subject company or companies and its or their securities and do not necessarily reflect those of SHAREKHAN. Further, no part of the analysts compensation was, is or will be, directly or indirectly related to specific
recommendations or views expressed in this document.

Sharekhan

October 2015

Compliance Officer: Ms. Namita Amod Godbole; Tel: 022-6115000; e-mail: compliance@sharekhan.com Contact: myaccount@sharekhan.com