cont. on page no. 3

AUGUST 2017For private circulation only

“I am having a great time, wish you were her”, a husband texted his wife.Moral: One small error can ruin your life.To Err is Human and at times it might take ages for us to make up for the errs. When it comes to finances too, sometimes small mistakes can have serious consequences. Most of us commit small & big financial blunders unknowingly, and end up paying a big price for them, which we often do not even realise. These mistakes can be both by commission - i.e., by doing something or by omission - i.e., by not doing anything. This article concentrates on making the investors familiar with the potential mistakes they can commit. To make it easier for you to correlate, we have separated the mistakes across the life stages of a person:

The Exciting 20's20's is the time when we all are enthused, energetic and excited. However, it is also a time when people make most mistakes in life. Many of us start the investment process early well before turning 25. But while the time may be on our hands, wisdom often isn't. And hence investors in their 20's are highly prone to committing some common financial mistakes like:

Overspending, no savings: With your own money now in your hands, you feel empowered and deserving to spend it. We now wish to fulfill all our college dreams, and savings is the last thing on our minds. While you may be well deserved to spend as per needs, splurging extravagantly isn't really desired. We often splurge on things like watches, cars, entertainment, clothes and especially gadgets like mobiles, changing them often to buy the latest edition. But remember that every rupee saved and invested at this time has the potential to create the maximum compounded wealth over time. Time is

the biggest resource you have during these years. Starting an SIP at age 25 can help you create enough wealth to help in purchase of a house or say starting your own business later by age 35/40.

Not learning about investments: Lack of financial literacy is often witnessed among young investors. Somehow, the inclination towards savings, investing and management of finances is just not there. There are big dreams but the path to be followed to actualize them is often missing. This is the time when you can experiment and learn and still have time to recover from any hiccups in the process. It would be a waste of valuable time if we do not get out of our 20's without enough knowledge and some experience in investments.

The Settling 30's30's is the time when we would be settling in our jobs, home, relationships and also as a person. This is the stage when the investor has attained some degree of maturity in all aspects of his life, including finances.

This is a crucial period as you would be expected to make critical financial decisions which will have life long impact on your finances. The common investing mistakes which a 30's investor should be careful of are:

Towering EMI burden - The most prevalent financial problem among the 30's investors is they overburden themselves with EMI's. EMI's for home, car and other sophisticated electronics, all are running at the same time. The reason probably is easy availability of loans, however an investor should not be taking loans more than he can afford to repay. As a simple rule, your EMIs should not exceed 50% of your net monthly cash inflow. EMIs on depreciating assets (like car, electronics) is worse than on appreciating assets like property. There should be a substantial gap between a person's income and the sum of his EMI's. Excessive EMI's leave the investor with little or no room for saving and investing for other important life goals like kids

FINANCIAL MISTAKES INVARIOUS LIFE STAGES

20s 30s 40s 50s

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MUTUAL FUNDSLIFE INSURANCEGENERAL INSURANCETAX SAVING & RBI BONDS

RETIREMENT PLANNINGCHILD EDUCATION PLANNINGINSURANCE PLANNINGTAX PLANNING

FINANCIAL PLANNINGNRI INVESTMENT PLANNINGCHARITABLE TRUST INVESTMENT PLANNING

Email: kkcredible@gmail.com | Website: www.kkcredible.com

Killol Karia

Centre Point, Karansinhji Road,Chamber Of Commerce Building,Rajkot - 360 001, Gujarat.

Mob.: 98240 19123Tel.: 02812223177

education, retirement planning, etc.

No planning for long term goals: 30's is the time when an investor must have the financial plan for the rest of his life prepared. This is the apt time when the initial steps towards long term goals like kids education, marriage, retirement should be taken. But for some, long term goals are nowhere on the list, their life is revolving around near term goals like home, car, vacations, etc., what they don't realize is, the time to realize it is now or else it'll be too late. Proper planning not done now will force one to compromise later in life.

Inadequate insurance: Another major problem in a 30's investor financial plan is inadequate insurance. People often treat insurance as an expense, and try to keep the premium payments as low as possible. While insurance is actually an asset which is going to protect you and your family during difficult times, therefore you need to be adequately covered at all times. If your parents are dependent on you, it is critical that you start health insurance for them too as early as possible before it is too late as they may be nearing old age. If not done, health emergencies in your family can potentially sabotage your financial worth at any point of time.

The Responsible 40'sThis decade puts many financial responsibilities on your shoulders. You are in the middle of your career, you have to take care of your kids' education, your loans, your parents' expenses, and at the same time you and your spouse may want to live your own dreams, as you are still in the young category. This is a very crucial time for

managing your finances right and some common mistakes which a 40's investor often commit are:

Preferring traditional products: The biggest blunder of 40's investors is their bias towards fixed income investments or traditional products like PPF, gold, property, etc. There are many reasons for this, like lack of awareness about non-traditional products, bad past experience, unwillingness to learn and change, and so on. While no traditional product is negative per say, an investor has to holistically look at his entire portfolio and make the right asset allocation decision. Often we see that investors loose track of their asset allocation during these times.

Losing track of financial goals: Another lapse in our finances as we progress is, we sway away from our financial plans and goals. This may be due to lack of regular revisions in your financial plans or loosing touch with your financial advisor. This is perhaps the last phase when you can still invest in equities for goals which are yet far away. The risk you then carry is falling short of your goals and compromising on them or diluting your financial net-worth. Retirement should now become a critical goal for you to plan and if you haven't yet started yet, it must be at the top of your list.

The Maturing 50s50's is the time when you would see a lot of events and changes taking place in your personal life. This stage is the last decagon of our working life, not to be underestimated as you have the highest earning capacity. Some of the common money mistakes of a 50's investor are:

Compromising on your Retirement Kitty: The greatest financial mistake you may be forced to do is to compromise on your retirement by withdrawing from it's corpus to fulfill your other responsibilities towards your children like marriage, education, business support, etc. Lack of adequate planning in earlier life stages have got you in this position today and all the efforts directed towards living a financially independent and peaceful life post retirement takes a big hit. The 50's investor should remember that retirement years are approaching, there will be no inflow of money soon, but there will be outflows, and he/she should take due care and have enough money to fill in the blank. Retirement planning should be the top focus here and you should do all that is possible to reach adequate numbers.

Lack of Estate Planning: While many investors may still be in the pink of their health, the 50's does bring in some uncertainty in our lives on health front. It is a stage when you have adequate wealth accumulated and invested in various avenues, including property. Be it you or your spouse, it is also the time that you start thinking about estate planning or at least creating a proper will for wealth distribution. Estate planning would be crucial if you still have someone close to you who would need special care & attention in your absence. Keeping all documents in one place and getting proper estate planning / will writing done, will save lot of hassles and confusion on part of your children in your absence while also ensuring that your spouse is not left at the mercy of others.

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SPIRITUALITY &INVESTMENTSHuman Behaviour is unpredictable and non-symmetric. There is generally no logic behind how we think, believe and behave; it is simply based on our personality, interests and emotions. To exercise control on our demeanor and to guard us from evil tendencies, the concept of spirituality comes into the picture. We are taught about morals and ethics in schools, in our homes, in community get-togethers, since our childhood. Spiritual principles are like illuminating lights that help us differentiate good from bad and to show the right direction in our endeavours. They help us become better human beings by strengthening our emotional stability and keeping us grounded. Application of these spiritual principles can be made to all other phases of our life like relationships, career and our finances too.Through this piece, we have tried to illustrate how the spiritual principles hold good in Investing. And how if we abide by them as an investor, we can be successful in our endeavours. Following is the list of the spiritual principles which form a guidebook for us while investing:

Ignorance: “All suffering is caused by Ignorance”~Dalai Lama.

In finances, there is nothing more dangerous than a closed, ignorant mind. Although we propagate that the investors should ignore the market noise & random tips and concentrate on their ideal portfolio & asset allocation, yet while making investment decisions these basic principles are ignored. In most cases, financial suffering is caused because of not knowing about the right investment avenues available to them and things that they should do. Ignorance of information, knowingly or unknowingly, and even acting on wrong information, will leave you with a portfolio that gives suboptimal returns - much harmful when compounded in life.

Ego: 'A man is a product of his thoughts. What he thinks, he

becomes.” - Mahatma Gandhi

Ego is perhaps the investor's biggest enemy. Ego has the habit of interfering in our investment decisions, often defending itself or showing off, and doesn't let us do the right thing or respect others' opinions. An investor is likely to be so obsessed with his choice of investments, that he will do things not right in his interests, like for example - hold on to it for far longer than required or selling it off before time, to make it look good. With an ego, we always project our winners while hiding our failures in investments, often not allowing us to learn from our mistakes by ignoring them. The ego has to be told to be silent when it comes to finances. When ego dies, soul arises and so does your wealth!

Fear: “There is only one thing that makes a dream impossible

to achieve: The fear of failure” ~ Paulo Coelho.

Fear of loss doesn't let many investors make the right investing or timely decisions. For a young investor, the ideal portfolio should be tilted towards equity, since he has enough time left to emerge as a

long term winner, in spite of any ups and downs that can happen on the way. However, he is frightened, doesn't want to take risk and fails to see the bigger picture while finding comfort within fixed return investments. Bitter past experiences, caution from parents/friends or the timid/hesitant nature of the investor leads to such fears, indecisiveness and procrastinations. The fear from ignorance, from not knowing about something can be easily removed with learning and education. However the fear of deciding, to take a stand, to stay focused and look at the bigger picture irrespective of current market conditions, is something very hard to overcome. When a one year old child learns to walk, he does so by overcoming the fear of falling, by falling many times. Investing demands lesser bravery and here you don't need to fall but just need to take the right stand and stick to it.

Attachment: “You can only lose what you cling to.” - Buddha

We often say that we don't need get too attached to things and learn to let go. The same logic applies to investments. Attachment to investments is a bi-product of the investor's ego. Sometimes, the investor develops such deep conviction in the investment that he gets emotionally attached to it, and doesn't want to let it go. Many

investors get attached to an investment because they have been holding it since ages, or because his father told him the story of how that company grew from rags to riches, or because a distant friend of his, is still invested in that company. Such factors establishes an emotional connect between the investor and his investment and it therefore lingers around with the investor even when it is not advisable. The attachment is not just limited to investments but extends to preferred asset classes, investment products or to things like gold, property and so on, all effectively resulting into risks & short-comings.

Greed: “As long as greed is stronger than compassion,

there will always be suffering.” - Rusty EricGreed and Fear are two extremes and both aren't best for an investor. While fear of loss doesn't let the investor invest, greed works otherwise. A greedy investor is the one who picks those investments which are hotshots of the market, people made huge money in them, but often gets into those investments when they have reached the zenith and when its too late. Then these investors have unrealistic expectations from these investments, not realizing that the 'others' had entered at the opportune time. It's because of these greedy investors, that the stock markets when at highs, receive huge inflows of money, because everybody wants to make money, only to be disappointed later. Greed often also makes a person impatient and forces him to sell investments as soon as some good profits are visible, at the cost of long term compounded returns.

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So the bottom line is, the various elements of spiritual being are relevant for your financial life as well. Spiritual fundamentals, when followed religiously help you keep a control over your emotions and take informed decisions.

Disclaimer: The views expressed are author’s own views and not necessarily those of HDFC Asset Management Company Limited (HDFC AMC). The views expressed are based on internal data, publicly available information and other sources believed to be reliable. Any calculations made are approximations, meant as guidelines only, which you must confirm before relying on them. The information contained in this document is for general purposes only. The document is given in summary form and does not purport to be complete. The document does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. The information/ data herein alone are not sufficient and should not be used for the development or implementation of an investment strategy. The statements contained herein are based on our current views and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Past performance may or may not be sustained in future. Neither HDFC Asset Management Company Limited and HDFC Mutual Fund (the Fund) nor any person connected with them, accepts any liability arising from the use of this document. HDFC Mutual Fund/AMC is not guaranteeing/offering/communicating any guaranteed returns on investments made in the scheme(s). The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible / liable for any decision taken on the basis of information contained herein.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY

FUND MANAGER INTERVIEWS

Q. How and to what extend is the GST likely to impact the earnings of companies?

Ans: GST is bound to have a far reaching impact on the way businesses are conducted in our country. There could be some transient impact of GST on inflation as prices could notch up a bit till the system gets used to the implementation of GST. Over a period of time as manufacturers and service providers get the benefit of the input tax credit, transient inflation effect of GST will reduce. Organized players in the economy are expected to become more competitive against the unorganized sections of the economy which in turn will lead to gain in market share, thereby accelerating growth. Since listed companies are a part of the organized system, they could likely benefit from an increase in their earnings growth by about 2% on account of implementation of GST.

Q Which are the sectors that stand to gain and lose with GST coming into effect?

Ans: Consumer sector, capital goods and thermal power producers are likely to benefit from new GST rates which stand below existing tax rates. Telecom, Auto (luxury segment), alcohol, paints and cement may have a slightly negative impact from new GST rates being higher than existing rates. De-stocking of inventory on which old tax rates apply and input tax credit is lower could lead to near term disruptions. Initial teething issues like confusion over product categories, rates and taxation, the shift from unorganized to organized sectors impacting profitability of small businesses and general business uncertainty around the extent of benefit from input tax credit could moderately impact GDP in the near term.

Q What is your assessment of the market valuations? Where do you think are opportunities still present and which your team is working on?

Ans: Over the past 3 years between FY15 and FY17 aggregate corporate earnings were running below expectations (deceleration to low positive single digit growth). While the broader market earnings expectation for FY18 stands at 15-17%, we expect market to comfortably deliver anywhere between 12-13% earnings growth. That is significant improvement from what we saw in previous 3 years. With these expectations being met, we don’t see a significant valuation risk.

Indian markets have seen a considerable re-rating in the recent months buoyed by global liquidity and supportive domestic macroeconomic factors. S&P Nifty 50 trail PE has shot up from 21x (Dec-16) to 25x (July-17), though still below the peak levels of 28x in 2008. The 1-year forward PE for Nifty 50 at 17.2x (June) is still below the 2007-08 peak of 19.5x. Also the other parameters including price-to-book value of Nifty and market capitalization to GDP ratio stand comfortably below previous peaks, hovering around long term average levels. These factors lead us to believe that market is not in a valuation bubble and expected acceleration in earnings growth from the current year onwards provides comfort.

Q. The economy is showing mixed signs of recovery, especially w.r.t. slowing of growth rate to 6.1% and other indicators like manufacturing PMI and industrial production. What is your take on the actual recovery status of the economy after demonetisation?

Ans: Domestically, consumption-a key growth driver- is showing pronounced uptrend post demonetization (domestic retail sales, auto sales and oil consumption) well supported by exports. Select capex indicators (capital goods imports and LCV sales) have also begun to improve even as growth in other capex indicators remains muted. The immediate effect of GST implementation may be disruptive for inflation. Additionally, farm loan waivers by states could stoke inflationary pressures in the economy. Attempts by the government to achieve fiscal deficit target through buoyant indirect tax revenue growth and partial disinvestments (L&T, potential stake sale in Air India) could help to counter fiscal slippages. The government’s move to combine strategic policy reform measures with efficient execution prepares a favorable ground for sustainable long term growth, a key positive for equity market. Expectation of normal monsoon with decent spatial distribution, transitory impact of GST on inflation, improving consumption and moderate global crude oil prices are some of the near-term positives for the economy.

Q. What is your investment strategy at how are you playing the markets right now?

Ans: There are pockets of over-valuation in the market. But, there are cases of undervalued ideas among them. We at Franklin Templeton predominantly employ a bottom-up approach to stock-picking considering the long term fundamentals of the stock and crucial developments in the company and sector. While broad analysis of economy and various sectors is a starting point, the stress is on a deeper search for businesses and managements creating wealth, some of which could even be in out-of-favour sectors. The belief is that there are stocks that need to be bought and sold regardless of the state of markets. The focus on superior stock selection and long term investment horizon continues to be steadily followed as per the fund mandates thereby leaving negligible room for momentum based investing strategy.

Q. What would be your advice to investors with medium to long term investment horizon?

Ans: Reasonable relative equity valuations for the Indian market put together with positive long term growth drivers offer a decent risk-reward trade off for the Indian equity. Investor should choose the asset allocation basis his/her risk appetite. For a first time investor into equity funds, we recommend opting for large cap funds. For seasoned investors we recommend a more balanced approach and avoid excess concentration in mid and small segment. Exposure to diversified funds offer large cap exposure and selective stocks in mid and small cap segments, thereby bringing the best of both segments to the investor. With core exposure to large cap and prudent risk-taking in mid/small cap space an investor may be well positioned to capture the medium to long term opportunity presented by the market. Further, the investments can be staggered to benefit from the intermittent volatility in equity markets.

Mr. Anand Radhakrishnan, CFAChief Investment Officer (Franklin Equity - India)Franklin Templeton Asset Management (India) Pvt Ltd.

Mr. Anand Radhakrishnan is Chief Investment Officer (Franklin Equity - India) for Franklin Templeton Asset Management (India) Pvt Ltd. Mr. Radhakrishnan is responsible for overseeing all the local equity funds. His responsibility includes mentoring all the portfolio managers apart from continuing to be the Portfolio Manager for some of the key products. He manages Franklin India Bluechip Fund, Franklin India Prima Plus and Franklin India Technologies Fund. Also he is co-portfolio manager for Franklin India High Growth Companies Fund and Franklin India Build India Fund.

Mr. Radhakrishnan has been in the investment management industry since 1994. He started his career with FT in 2004. His past assignments include Fund Manager, with Sundaram Mutual Fund for 8 years; Deputy Manager, Equity Research with SBI Funds Management Ltd.

Mr. Radhakrishnan earned his Post Graduate Diploma in Management from Indian Institute of Management, Ahmedabad in 1994. He earned his Bachelor of Technology degree, specializing in Chemical Engineering from Anna University, Chennai in 1990. He is a CFA charter holder.

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SIP RETURN AS ON 31ST JULY 2017

Starting - August Month of

Years

Invested Amount :

Schemes (Diversified Equity)

2016

1

1,20,000

2014

3

3,60,000

2012

5

6,00,000

Returns % - CAGR

2010

7

8,40,000

2007

10

12,00,000

2005

12

14,40,000

Mutual fund's average AUM touches all-time high of ` 19.92 lakh crore

The average assets under management (AAUM) of Indian mutual fund industry for the month of June 2017 stood at s 19.92 lakh crore, according to the data released by Association of Mutual Funds in India. The assets under management of the industry on June 30, 2017 stood at at ̀ 18.96 lakh crore. The asset base of the MF industry rose 7 per cent to ` 19.52 lakh crore at the end of June quarter. According to AMFI, the AUM of the Indian MF industry has grown about six-fold increase in a span of 10 years. The assets under management of the MF industry stood at ` 3.26 trillion as on 31st March 2007. The data shows that the mutual fund industry's AUM has grown from ` 5.87 trillion on 31st March, 2012 to ` 18.96 trillion as on 30th June, 2017, more than three-fold increase in a span of five years. The mutual fund industry crossed the milestone of ` 10 lakh crore for the first time in May 2014 and in less than three years, the AUM size has touched ` 19 lakh crore last month. The total number of accounts or folios touched 5.82 crore, while the number of folios under equity, ELSS and balanced schemes, wherein the maximum investment is from retail segment stood at 4.70 crore.

Mutual fund exposure to bank stocks at record ` 1.47 lakh crore

Mutual fund managers continued to be bullish on bank shares, as their allocation to the sector reached an all time-high of ` 1.47 lakh crore at the end of June, mainly due to cheaper valuations. This also marks the sixth consecutive monthly rise in the mutual fund's exposure to bank stocks. In comparison, the figure was ` 93,885 crore at the end of June 2016. Banking continues to be the most preferred sector with the fund managers, given the high weightage attached to the index. Mutual funds (MFs) have been adding exposure to the financial sector, primarily banking stocks because of lower valuations due to price corrections coupled with growth in corporate lending, according to the industry analyst.

NEWS UPDATE

17.2439.3633.5236.0038.4528.8112.3619.7628.0326.6433.5429.5631.2929.2741.7233.6334.4227.0030.9026.3825.0927.8725.1221.5816.5418.5427.3625.3637.2430.6531.4836.5536.9927.0023.3323.8334.7818.3726.4332.0622.2133.1015.1330.3735.1422.6424.7629.4323.1223.9523.8324.0520.3623.7320.4125.5928.4651.8312.36156

30.6626.6631.6032.0532.1633.2525.1332.4027.5726.5222.7934.6331.8933.1214.6638.6326.8034.3128.4435.3327.2443.2225.6537.9620.1134.4531.1426.8630.9533.5934.3324.4730.2743.2214.66

3227.2127.80

16.9225.8718.9424.7022.0016.008.96

16.3212.6814.9719.7419.8614.5616.7527.1717.4916.5813.5222.9017.2216.4715.5815.9913.9111.3217.5919.1116.4925.9318.5026.4622.5115.7222.2715.7815.2324.289.66

14.4918.7411.5920.588.05

14.4220.2810.7513.7114.4213.3113.1312.6812.5415.8913.5510.5714.3117.3932.407.87155

16.1115.1718.2718.8715.1116.5713.1018.3620.0014.8714.8420.0917.7219.1712.0519.9016.1919.3318.3620.7714.42

-14.9321.8216.4218.4415.2214.5819.2621.0117.7713.7417.1821.8212.05

3112.0113.16

--

18.1029.2522.8917.2212.1017.7717.1016.6921.7925.9914.0219.3934.8319.7819.3513.6025.2319.6619.6417.0419.1916.2119.3626.3922.4220.4334.0319.8925.5630.0015.2327.7017.9418.4126.1014.8015.6325.6613.5924.2513.6615.5920.3712.43

-15.4314.2116.3313.6314.8125.9020.8712.9916.2520.3534.8310.95148

22.3917.2821.8222.6119.0518.1615.5819.4922.3817.6319.3620.5019.4720.5517.3721.8020.4021.0820.0821.1417.11

-16.6422.8017.8423.9616.4617.9819.7722.7217.3215.5119.5623.9615.51

3112.3713.33

--

15.4125.7120.2115.31

-16.3716.5615.2418.4722.5412.4117.01

-17.7616.1912.0021.0117.7018.2914.5618.7614.8718.7724.3719.5918.3629.3316.7521.3124.8912.9124.1116.0216.9121.8014.7414.3522.8111.7821.3112.7113.8617.17

--

14.0412.4115.5013.0813.4123.4120.0712.7414.7818.1329.5710.28141

21.4415.0019.5219.8218.0315.9614.4716.8019.9316.2317.9217.9716.7618.5016.4719.6518.5617.8917.0918.2015.08

-14.7920.2716.3921.4414.5816.5817.1119.9414.7813.8817.4521.4413.88

3111.3112.03

--

14.16-

16.4414.50

-16.6917.5012.2616.4019.68

-15.82

-15.7514.1511.0218.8616.2216.0212.3319.1514.0617.8820.5416.0416.24

-14.1417.9221.0211.0921.9016.2115.0919.1814.5813.6019.7910.2616.96

-12.8315.59

--

12.3312.8815.23

-12.4421.3820.2413.6813.3816.3926.209.45111

-12.9616.7316.9115.88

-14.9113.8017.80

-17.0816.7416.0316.5816.56

-17.69

-14.6817.0212.74

-12.9316.27

-19.5414.3314.7614.6317.5313.8812.3415.6119.5412.34

2510.5511.08

--

12.92-

14.37---

16.82-

16.02--

16.19--

13.6111.4417.49

--

12.0717.3213.9516.4018.00

-15.58

---

19.5711.2020.5115.7414.2418.3913.8713.4917.939.4314.43

-12.4315.27

---

13.3314.71

-12.1718.9918.8013.7712.5315.0321.878.6981

-11.8715.2615.73

--

15.06---

16.3015.4515.11

-15.33

-----

11.37-

12.3814.15

--

15.5914.0514.1515.9513.5911.3414.2816.3011.34

1710.4510.95

SIP RETURN AS ON 31ST JULY 2017

Starting - August Month of

Years

Invested Amount :

Schemes (Diversified Equity)

2016

1

1,20,000

2014

3

3,60,000

2012

5

6,00,000

Returns % - CAGR

2010

7

8,40,000

2007

10

12,00,000

2005

12

14,40,000

Motilal Oswal Most Focused Midcap 30 Fund - GrMotilal Oswal MOSt Focused Multicap 35 Fund - GrPrincipal Dividend Yield Fund - GrPrincipal Emerging Bluechip Fund - GrPrincipal Growth Fund GrPrincipal Large Cap Fund - GrPrincipal SMART Equity Fund - GrQuantum Long Term Equity Fund - GrReliance Equity Opportunities Fund - GrReliance Focused Large Cap Fund - GrReliance Growth Fund GrReliance Mid & Small Cap Fund - GrReliance Quant Plus Fund - GrReliance Regular Savings Fund Equity Plan - GrReliance Small Cap Fund - GrReliance Top 200 Fund - GrReliance Vision Fund GrSahara Growth Fund GrSahara Midcap Fund - GrSahara Wealth Plus Fund Variable - GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Emerging Businesses Fund - GrSBI Magnum Equity Fund - DivSBI Magnum Global Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Magnum Multiplier Fund - DivSBI Small & Midcap Fund - GrSundaram Equity Multiplier Fund - GrSundaram Rural India Fund - GrSundaram S.M.I.L.E. Fund - GrSundaram Select Focus - GrSundaram Select MidCap - GrTata Dividend Yield Fund - GrTata Equity Opportunities Fund - GrTata Equity P/E Fund GrTata Ethical Fund - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Bonanza Fund GrTaurus Discovery Fund - GrTaurus Ethical Fund - GrTaurus Starshare GrowthTempleton India Growth Fund GrUnion Equity Fund - GrUnion Small and Midcap Fund - GrUTI Bluechip Flexicap Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - DivUTI India Lifestyle Fund - GrUTI Master Share - DivUTI Mid Cap Fund - GrUTI MNC Fund - GrUTI Opportunities Fund - GrUTI Top 100 Fund - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseELSS / Tax Savings SchemesAxis Long Term Equity Fund - GrBaroda Pioneer Elss 96 - DivBirla Sun Life Tax Plan - DivBirla Sun Life Tax Relief 96 Fund - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDHFL Pramerica Tax Plan - GrDSP BlackRock Tax Saver Fund - GrEdelweiss ELSS Fund - GrFranklin India Taxshield GrHDFC Long Term Advantage Fund - GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMotilal Oswal Most Focused Long Term Fund - GrPrincipal Personal Tax Saver - GrPrincipal Tax Savings FundQuantum Tax Saving Fund - Gr PlanReliance Tax Saver Fund - GrSahara Tax Gain Fund GrSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUTI Long Term Equity Fund (Tax Saving) - DivAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseS&P BSE SENSEXNIFTY 50

Economic survey gets realistic on

rowth

After more data were out on the health

of the economy, the economic

advisers in the finance ministry now

realised that clocking 7.5 per cent

growth may be a difficult task for the

current financial year. Not that, they

were very sure of this target when

volume I of the Economic Survey was

released in January this year. What

they had projected was a wide range

of 6.75-7.5 per cent. So, they had

forecast both lower than 7.1 per cent

growth, achieved in 2016-17, as well

as higher than that, not sure of how

twin balance sheet problem will pan

out. However, now they are more firm

that risks to the upper range have

increased. The International Monetary

Fund (IMF) and the World Bank have

already projected India's economy to

grow 7.2 per cent, a tad higher than

last year's.

Car sales up by 9% in July

Domestic passenger vehicle sales

increased 15.12 per cent to 2,98,997

units in July from 2,59,720 units in the

same month last year. Domestic car

sales were up 8.52 per cent at

1,92,773 units as against 1,77,639

units in July last year, according to

data released by the Society of Indian

Automobile Manufacturers (SIAM).

Motorcycle sales rose 16.9 per cent to

10,48,657 units last month compared

to 8,97,084 units a year earlier. Total

two-wheeler sales in July grew 13.73

per cent to 16,79,055 units as against

14,76,332 units in the year-ago month.

Good monsoon expected to lead to

bumper harvest, rein in retail

inflation

India's consumer inflation is expected

to have picked up in July after easing

for three straight months, with food

prices back on the rise, but is

expected to remain well below the

central bank's target. The consumer

price index, the main policy target of

the Reserve Bank of India (RBI), likely

rose 1.87 per cent in July from a year

earlier, according to a Reuters poll of

economists, compared with an

increase of 1.54 per cent in June. The

wholesale price index likely rose 1.3

per cent in July, after four months of

easing. In June, WPI rose 0.9 per cent.

India to overtake US as second

largest 4G phone base by 2018

Explosive growth in data usage, driven

by attractive offers from operators like

Reliance Jio and Airtel, is likely to

catapult India as the second largest

4G handset market by next year, a

report by Counterpoint said. With an

estimated installed base of 340 million

4G devices, India will displace the US

as the second largest market. With a

base of 150 million users, India is

currently placed behind China and the

US, the report said. While the US is

forecast to see the 4G installed base

grow to 245 million from 225 million

currently, the Indian market is

expected to grow at a faster pace,

driven by increasing adoption of

mobile Internet. China, on the other

hand, would continue to dominate the

tally with 780 million 4G devices next

year, growing from 740 million

currently.

Fiscal deficit at 81% of budget

estimates in Q1

Fiscal deficit in the first quarter of the

current fiscal was Rs 4.42 lakh crore or

80.8 per cent of Budget Estimates for

2017-18, much higher than in the

year-ago period. The fiscal deficit

situation during April-June of the last

fiscal was 61.1 per cent. The

government aims to restrict the deficit

to 3.2 per cent of GDP in the current

fiscal as against 3.5 per cent in

2016-17. In absolute terms, 3.2 per

cent deficit for the current fiscal works

out to Rs 5,46,532 crore. As per the

data released by the Controller

General of Accounts, tax revenue was

Rs 1,77,337 crore or 14.5 per cent of

the estimate.

July factory activity contracts to 9-yr

low on confusion over GST

implementation

Factory activity plunged last month

and had its deepest contraction in

more than nine years after Prime

Minister Narendra Modi's new tax

policy severely hurt output and

demand, a survey showed.

The Nikkei/IHS Markit Manufacturing

Purchasing Managers' Index fell to

47.9 in July from June's 50.9, its first

reading below the 50 mark that

separates growth from contraction

since December and its lowest

reading since February 2009. A

Reuters poll predicted a modest July

dip to 50.8. But July brought the

biggest month-on-month decline

since November 2008, just after the

collapse of Lehman Brothers triggered

a financial crisis and brought on a

global recession.

E-commerce market to touch Rs 2

lakh cr in FY18: Govt

The e-commerce segment in India is

growing and is likely to touch $33

billion this fiscal. In the 2016-17 fiscal,

the online market had grown by 19 per

cent, according to Minister of State for

Consumer Affairs C R Chaudhary.

India's e-commerce market is

estimated to be $33 billion in the

financial year 2017, he said, quoting

industry body NASSCOM's latest

estimates. On consumer complaints,

the minister said that as many as

28,770 complaints were registered

against the segment on the National

Consumer Helpline (NCH) last fiscal. If

consumer complaints are not resolved

and if there is no response from the

company, then consumers are

advised to approach appropriate

consumer forum, he added.

Over 21,00,000 Indians applied for

H-1B visa in last 11 years: Report

More than 21 lakh Indian technology

professionals have applied for H-1B

work visas in the last 11 years, an

official report has said. The report of

the US Citizenship and Immigration

Services (USCIS) has also refuted the

impression that those who applied for

the visa were not highly qualified. On

an average, their salary over the last

11 years has been USD 92,317 and an

overwhelming majority of them are

masters or bachelor's degree holder.

In terms of number of H-1B

applications between 2007 and 2017,

India is followed by a distant China

with 296,313 H-1B applications,

Philippines (85,918), South Korea

(77,359), and Canada (68,228).

Axis Equity Fund - GrAxis Focused 25 Fund - GrAxis MidCap Fund - GrBaroda Pioneer Growth Fund - GrBaroda Pioneer Large Cap Fund - GrBirla Sun Life Advantage Fund GrBirla Sun Life Dividend Yield Plus - GrowthBirla Sun Life Equity Fund - GrBirla Sun Life Frontline Equity Fund - GrBirla Sun Life India GenNext Fund - GrBirla Sun Life India Opportunities Fund - GrBirla Sun Life Midcap Fund - GrBirla Sun Life MNC Fund GrBirla Sun Life Pure Value Fund - GrBirla Sun Life Small and Midcap Fund - GrBirla Sun Life Special Situations Fund - GrBirla Sun Life Top 100 Fund - GrBNP Paribas Dividend Yield Fund- GrBNP Paribas Equity Fund - GrBNP Paribas Midcap Fund - GrBOI AXA Equity Fund - Regular Plan GrCanara Robeco Emerging Equities Fund - GrCanara Robeco Equity Diversified - GrCanara Robeco F.O.R.C.E. Fund - Regular GrCanara Robeco Large Cap Plus Fund - GrDHFL Pramerica Large Cap Fund - GrDHFL Pramerica Midcap Opportunities Fund - GrDSP BlackRock Equity Fund - Reg. Plan - DivDSP BlackRock Focus 25 Fund - GrDSP BlackRock Micro Cap Fund - GrDSP BlackRock Opportunities Fund - GrDSP BlackRock Small and Mid Cap - Reg GrDSP BlackRock Top 100 Equity Fund GrEdelweiss Equity Opportunities Fund - Regular GrEdelweiss Large Cap Advantage Fund - GrEdelweiss Mid and Small Cap Fund - Regular GrEdelweiss Prudent Advantage Fund Plan A - GrEscorts Growth Plan GFranklin Build India Fund - GrFranklin India Bluechip Fund GrFranklin India Flexi Cap Fund - GrFranklin India High Growth Companies Fund - GrFranklin India Opportunities Fund-GrFranklin India Prima Fund GrFranklin India Prima Plus GrFranklin India Smaller Companies Fund - GrHDFC Capital Builder-GrHDFC Core and Satellite Fund - GrHDFC Equity Fund - DivHDFC Growth Fund GrHDFC Large Cap Fund - GrHDFC Mid Cap Opportunities Fund - GrHDFC Premier Multi-Cap Fund - GrHDFC Small Cap Fund - GrHDFC Top 200 Fund - DivHSBC Dynamic Fund - GrHSBC Equity Fund - GrHSBC India Opportunities Fund - GrHSBC Midcap Equity Fund - GrICICI Prudential Dynamic Plan - GrICICI Prudential Exports and Other Services Fund - GrICICI Prudential Focused Bluechip Equity Fund - GrICICI Prudential MidCap Fund - GrICICI Prudential Multicap Fund - GrICICI Prudential Select Large Cap Fund - Retail GrICICI Prudential Top 100 Fund - GrICICI Prudential Value Discovery Fund GrIDFC Classic Equity Fund - Regular Plan - GrIDFC Equity Fund - Regular Plan - GrIDFC Focused Equity Fund - Regular Plan - GrIDFC Premier Equity Fund - Regular Plan - GrIDFC Sterling Equity Fund - Regular GrIIFL India Growth Fund - GrIndiabulls Blue Chip Fund - GrInvesco India Business Leaders Fund - GrInvesco India Contra Fund - GrInvesco India Dynamic Equity Fund - GrInvesco India Growth Fund - GrInvesco India Mid N Small Cap Fund - GrInvesco India Midcap Fund - GrJM Equity Fund Growth OptionJM Multi Strategy Fund - Growth OptionKotak 50 Equity Scheme DivKotak Classic Equity Fund - GrKotak Emerging Equity Scheme - GrKotak Midcap - GrKotak Opportunities Fund - GrKotak Select Focus Fund - GrL&T Business Cycles Fund - GrL&T Emerging Businesses Fund - GrL&T Equity Fund - GrL&T India Large Cap Fund - GrL&T India Special Situations Fund - GrL&T India Value Fund - GrL&T Midcap Fund - GrLIC MF Equity Fund GrLIC MF Growth Fund GrMirae Asset Emerging Bluechip Fund - GrMirae Asset India Opportunities Fund - GrMotilal Oswal MOSt Focused 25 Fund - GrMotilal Oswal Most Focused Midcap 30 Fund - GrMotilal Oswal MOSt Focused Multicap 35 Fund - GrPrincipal Dividend Yield Fund - Gr

138,276142,374135,966135,415133,176140,290135,623137,458136,858138,251131,965138,575133,936136,590140,449136,243137,069141,014137,612138,453137,232142,464138,268141,850136,024137,037132,884136,602135,115134,176137,458136,042135,203137,440136,849137,267133,330133,870137,378134,516134,010135,882135,625135,181135,633134,777137,336137,689139,509137,979136,854137,728137,180142,041139,635136,922138,559137,807138,513133,786128,785136,877135,889130,890130,614133,826129,916138,469138,029148,723134,168146,507135,902136,490135,793136,902136,804140,025134,755133,981133,312141,327134,806137,938135,249135,078138,556138,872136,778149,709135,094135,631140,272139,668145,979128,711135,180142,334140,262137,936130,329142,895139,645

440,435485,291438,724446,561433,714498,480445,542491,128461,235488,799428,154494,450443,144492,690527,751479,527460,469474,040443,774480,057444,352513,788446,647489,840444,986448,374444,183461,657455,276512,018488,244498,639446,401449,559444,372476,007431,604448,300481,003446,591441,968460,549453,026481,082456,343489,131466,975462,915467,070464,683439,982498,841450,618503,479465,313444,825462,762465,206486,240455,078423,017458,201466,048451,723431,839456,179431,827479,228446,837485,176442,080502,959

-457,279447,097469,652450,945466,167459,185457,128422,072491,296445,470455,463494,323488,648481,978485,088466,442567,044448,637440,917471,724505,120534,264404,632434,960536,629483,750464,882460,345520,216473,439

880,987979,461994,757905,505869,619

1,116,086904,816

1,082,460959,463

1,053,130979,867

1,132,5751,060,9671,208,2101,231,0351,056,526966,040

1,005,335927,082

1,122,546884,118

1,301,171885,449

1,028,238873,441914,171

-960,931956,009

1,368,6871,037,0201,164,624877,561918,164896,850

1,148,424862,296996,869

1,168,340895,840951,789

1,069,625973,247

1,144,393990,068

1,240,687994,935961,534968,268923,618829,365

1,182,122920,618

1,076,292937,564841,324901,715991,453

1,173,466930,474

1,001,090932,190

1,121,075961,227863,580923,357999,163943,788852,853926,632977,853

1,075,013-

885,058910,448

1,047,987902,324972,070

1,072,3161,069,906844,685

1,037,547906,626904,083

1,194,9371,127,1661,018,5351,056,821

--

932,037894,278991,858

1,193,7071,297,997787,890868,078

1,345,2931,043,639

---

938,229

1,418,227--

1,384,2611,258,9581,793,4831,401,0671,752,9791,562,8441,790,9231,616,2871,831,7371,843,3492,023,0722,007,7461,673,9281,578,1411,636,0791,515,3901,959,7691,373,3622,242,8881,402,9771,668,018

-1,431,614

-1,500,6771,485,5772,326,7161,650,5761,903,9181,362,7521,444,6421,441,3351,960,6761,316,5991,554,7081,990,6461,406,4671,537,2971,810,9261,541,8111,969,1041,618,2352,200,6211,599,9541,454,4011,521,6431,423,6131,272,7222,017,5051,387,3571,725,6551,467,1671,260,4941,379,2641,586,4731,843,8881,493,3981,765,8591,499,9671,834,1641,546,1241,361,6561,487,8541,697,8241,472,6921,320,1611,397,7521,634,2701,751,066

--

1,437,8471,686,1151,446,1291,554,5651,838,4431,810,8771,293,3081,599,0841,427,1311,432,8941,986,6371,848,1431,628,8851,730,945

--

1,473,2111,400,8981,615,9521,999,9862,152,8901,208,2381,347,1852,386,4581,717,405

---

1,449,494

---

2,296,768-

3,042,4012,647,1363,013,3692,830,2533,398,9902,836,1543,324,8073,890,279

-3,679,063

-2,802,6873,070,9452,582,7563,623,155

-4,451,0042,572,480

--

2,364,351-

2,672,505-

4,783,7532,909,9403,716,8412,362,3922,490,043

---

2,550,341-

2,508,1312,785,1223,324,2522,566,9563,747,8202,928,3464,229,5032,945,0112,567,7822,845,1392,505,8272,092,9864,116,6982,415,571

-2,663,891

-2,242,8072,674,8662,970,3492,721,4433,173,718

-3,208,8192,704,656

-2,608,2063,537,5662,391,1372,192,2792,307,3643,283,859

----

3,071,457-

2,711,814-

3,541,0171,994,505

-2,408,5972,469,5753,494,2773,362,1312,820,650

---

2,660,650-

2,931,162-

3,981,3011,952,2612,241,550

-----

2,506,398

---

3,179,295-

4,006,8843,706,4494,137,9594,091,2914,751,2673,570,3414,682,2095,433,881

-----

3,472,751--

5,927,8463,621,807

--

3,273,291-

3,861,034--

4,014,923-

3,394,913----

3,354,131-

3,514,0713,852,854

-3,396,2634,951,5874,164,875

-4,085,1953,440,1774,052,2393,577,6492,692,992

-3,237,777

-3,843,278

-3,044,6513,574,8983,745,5743,866,111

--

4,164,4173,659,359

-3,584,1214,946,9013,163,623

------------

2,478,514-

3,327,2833,309,893

-4,394,1673,956,889

---

3,755,686---

5,395,3302,534,1402,867,160

-----

3,263,700

Starting - August Month of

Years

Invested Amount :

Schemes (Diversified Equity)

2016

1

1,20,000

2014

3

3,60,000

2012

5

6,00,000

Investment Value e

2010

7

8,40,000

2007

10

12,00,000

2005

12

14,40,000

SIP VALUE AS ON 31ST JULY 2017 NEWS UPDATEEconomic survey gets realistic on

rowth

After more data were out on the health

of the economy, the economic

advisers in the finance ministry now

realised that clocking 7.5 per cent

growth may be a difficult task for the

current financial year. Not that, they

were very sure of this target when

volume I of the Economic Survey was

released in January this year. What

they had projected was a wide range

of 6.75-7.5 per cent. So, they had

forecast both lower than 7.1 per cent

growth, achieved in 2016-17, as well

as higher than that, not sure of how

twin balance sheet problem will pan

out. However, now they are more firm

that risks to the upper range have

increased. The International Monetary

Fund (IMF) and the World Bank have

already projected India's economy to

grow 7.2 per cent, a tad higher than

last year's.

Car sales up by 9% in July

Domestic passenger vehicle sales

increased 15.12 per cent to 2,98,997

units in July from 2,59,720 units in the

same month last year. Domestic car

sales were up 8.52 per cent at

1,92,773 units as against 1,77,639

units in July last year, according to

data released by the Society of Indian

Automobile Manufacturers (SIAM).

Motorcycle sales rose 16.9 per cent to

10,48,657 units last month compared

to 8,97,084 units a year earlier. Total

two-wheeler sales in July grew 13.73

per cent to 16,79,055 units as against

14,76,332 units in the year-ago month.

Good monsoon expected to lead to

bumper harvest, rein in retail

inflation

India's consumer inflation is expected

to have picked up in July after easing

for three straight months, with food

prices back on the rise, but is

expected to remain well below the

central bank's target. The consumer

price index, the main policy target of

the Reserve Bank of India (RBI), likely

rose 1.87 per cent in July from a year

earlier, according to a Reuters poll of

economists, compared with an

increase of 1.54 per cent in June. The

wholesale price index likely rose 1.3

per cent in July, after four months of

easing. In June, WPI rose 0.9 per cent.

India to overtake US as second

largest 4G phone base by 2018

Explosive growth in data usage, driven

by attractive offers from operators like

Reliance Jio and Airtel, is likely to

catapult India as the second largest

4G handset market by next year, a

report by Counterpoint said. With an

estimated installed base of 340 million

4G devices, India will displace the US

as the second largest market. With a

base of 150 million users, India is

currently placed behind China and the

US, the report said. While the US is

forecast to see the 4G installed base

grow to 245 million from 225 million

currently, the Indian market is

expected to grow at a faster pace,

driven by increasing adoption of

mobile Internet. China, on the other

hand, would continue to dominate the

tally with 780 million 4G devices next

year, growing from 740 million

currently.

Fiscal deficit at 81% of budget

estimates in Q1

Fiscal deficit in the first quarter of the

current fiscal was Rs 4.42 lakh crore or

80.8 per cent of Budget Estimates for

2017-18, much higher than in the

year-ago period. The fiscal deficit

situation during April-June of the last

fiscal was 61.1 per cent. The

government aims to restrict the deficit

to 3.2 per cent of GDP in the current

fiscal as against 3.5 per cent in

2016-17. In absolute terms, 3.2 per

cent deficit for the current fiscal works

out to Rs 5,46,532 crore. As per the

data released by the Controller

General of Accounts, tax revenue was

Rs 1,77,337 crore or 14.5 per cent of

the estimate.

July factory activity contracts to 9-yr

low on confusion over GST

implementation

Factory activity plunged last month

and had its deepest contraction in

more than nine years after Prime

Minister Narendra Modi's new tax

policy severely hurt output and

demand, a survey showed.

The Nikkei/IHS Markit Manufacturing

Purchasing Managers' Index fell to

47.9 in July from June's 50.9, its first

reading below the 50 mark that

separates growth from contraction

since December and its lowest

reading since February 2009. A

Reuters poll predicted a modest July

dip to 50.8. But July brought the

biggest month-on-month decline

since November 2008, just after the

collapse of Lehman Brothers triggered

a financial crisis and brought on a

global recession.

E-commerce market to touch Rs 2

lakh cr in FY18: Govt

The e-commerce segment in India is

growing and is likely to touch $33

billion this fiscal. In the 2016-17 fiscal,

the online market had grown by 19 per

cent, according to Minister of State for

Consumer Affairs C R Chaudhary.

India's e-commerce market is

estimated to be $33 billion in the

financial year 2017, he said, quoting

industry body NASSCOM's latest

estimates. On consumer complaints,

the minister said that as many as

28,770 complaints were registered

against the segment on the National

Consumer Helpline (NCH) last fiscal. If

consumer complaints are not resolved

and if there is no response from the

company, then consumers are

advised to approach appropriate

consumer forum, he added.

Over 21,00,000 Indians applied for

H-1B visa in last 11 years: Report

More than 21 lakh Indian technology

professionals have applied for H-1B

work visas in the last 11 years, an

official report has said. The report of

the US Citizenship and Immigration

Services (USCIS) has also refuted the

impression that those who applied for

the visa were not highly qualified. On

an average, their salary over the last

11 years has been USD 92,317 and an

overwhelming majority of them are

masters or bachelor's degree holder.

In terms of number of H-1B

applications between 2007 and 2017,

India is followed by a distant China

with 296,313 H-1B applications,

Philippines (85,918), South Korea

(77,359), and Canada (68,228).

SIP VALUE AS ON 31ST JULY 2017

Starting - August Month of

Years

Invested Amount :

Schemes (Diversified Equity)

2016

1

1,20,000

2014

3

3,60,000

2012

5

6,00,000

Investment Value e

2010

7

8,40,000

2007

10

12,00,000

2005

12

14,40,000

NEWS UPDATE

Principal Emerging Bluechip Fund - GrPrincipal Growth Fund GrPrincipal Large Cap Fund - GrPrincipal SMART Equity Fund - GrQuantum Long Term Equity Fund - GrReliance Equity Opportunities Fund - GrReliance Focused Large Cap Fund - GrReliance Growth Fund GrReliance Mid & Small Cap Fund - GrReliance Quant Plus Fund - GrReliance Regular Savings Fund Equity Plan - GrReliance Small Cap Fund - GrReliance Top 200 Fund - GrReliance Vision Fund GrSahara Growth Fund GrSahara Midcap Fund - GrSahara Wealth Plus Fund Variable - GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Emerging Businesses Fund - GrSBI Magnum Equity Fund - DivSBI Magnum Global Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Magnum Multiplier Fund - DivSBI Small & Midcap Fund - GrSundaram Equity Multiplier Fund - GrSundaram Rural India Fund - GrSundaram S.M.I.L.E. Fund - GrSundaram Select Focus - GrSundaram Select MidCap - GrTata Dividend Yield Fund - GrTata Equity Opportunities Fund - GrTata Equity P/E Fund GrTata Ethical Fund - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Bonanza Fund GrTaurus Discovery Fund - GrTaurus Ethical Fund - GrTaurus Starshare GrowthTempleton India Growth Fund GrUnion Equity Fund - GrUnion Small and Midcap Fund - GrUTI Bluechip Flexicap Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - DivUTI India Lifestyle Fund - GrUTI Master Share - DivUTI Mid Cap Fund - GrUTI MNC Fund - GrUTI Opportunities Fund - GrUTI Top 100 Fund - GrAverage Value of Above FundsMaximum ValueMinimum ValueUniverseELSS / Tax Savings SchemesAxis Long Term Equity Fund - GrBaroda Pioneer Elss 96 - DivBirla Sun Life Tax Plan - DivBirla Sun Life Tax Relief 96 Fund - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDHFL Pramerica Tax Plan - GrDSP BlackRock Tax Saver Fund - GrEdelweiss ELSS Fund - GrFranklin India Taxshield GrHDFC Long Term Advantage Fund - GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMotilal Oswal Most Focused Long Term Fund - GrPrincipal Personal Tax Saver - GrPrincipal Tax Savings FundQuantum Tax Saving Fund - Gr PlanReliance Tax Saver Fund - GrSahara Tax Gain Fund GrSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUTI Long Term Equity Fund (Tax Saving) - DivAverage Value of Above FundsMaximum ValueMinimum ValueUniverseS&P BSE SENSEXNIFTY 50

141,032142,393136,987127,456131,796136,543135,751139,657137,409138,388137,246144,201139,707140,150135,958138,167135,602134,869136,452134,883132,850129,916131,088136,162135,020141,720138,029138,495141,335141,583135,959133,860134,146140,347130,988135,633138,823133,211139,406129,092137,872140,553133,460134,676137,336133,736134,215134,143134,274132,142134,089132,174135,154136,758149,709127,456

156

138,032135,765138,563138,816138,882139,493134,889139,016136,281135,685133,545140,262138,726139,416128,813142,495135,842140,084136,775140,656136,092145,024135,186142,120132,000140,165138,305135,881138,198139,685140,099134,513137,791145,024128,813

32136,079136,413

512,104493,768454,447411,060456,477433,630447,909478,697479,474445,362459,245529,346463,985458,193438,824499,817462,302457,467451,807454,384441,297425,317464,666474,534457,560520,641470,589524,391497,166452,692495,557453,056449,575509,263415,293444,882472,159426,962484,245405,689444,459482,262421,832440,008444,484437,516436,405433,634432,750453,748439,014420,731443,799463,911567,044404,632

155

455,180449,191469,044472,948448,840458,083436,266469,667480,395447,315447,113481,025465,513474,951429,745479,760455,643475,966469,658485,484444,473

-447,698492,556457,133470,141449,536445,498475,511487,126465,841440,229462,178492,556429,745

31429,504436,603

1,224,0031,052,662918,410810,543930,834915,769906,787

1,025,4661,133,257849,615967,806

1,394,069977,112966,906840,964

1,113,081974,188973,813914,411963,239896,212967,255

1,144,2391,041,100992,588

1,368,230979,771

1,121,7981,245,758875,010

1,180,223934,510945,365

1,136,458865,892883,544

1,124,636840,718

1,087,524842,056882,839990,940817,222

-879,315853,539898,906841,600866,145

1,130,9461,002,984828,436897,112997,394

1,394,069787,890

148

1,040,249919,707

1,026,2561,045,857960,005939,686882,500970,259

1,039,935927,686967,241994,225969,707995,317921,710

1,025,682991,769

1,008,028984,227

1,009,573915,952

-905,542

1,050,426932,378

1,080,069901,563935,592976,864

1,048,430920,686880,971973,164

1,080,069880,971

31815,909835,335

2,084,9621,718,0351,444,194

-1,499,6281,509,5041,440,4691,615,5361,865,1411,302,8771,533,764

-1,575,0111,489,9061,284,3091,766,8131,572,0201,605,2171,406,2201,632,2041,422,1301,632,2711,989,1821,680,3591,608,8602,366,9271,519,6301,785,6992,025,7441,326,5041,970,9761,480,8901,528,6981,816,9511,415,2691,395,8751,883,2131,274,4221,786,1751,316,9711,372,0741,542,602

--

1,380,7581,303,2001,454,1031,334,4501,349,9801,923,3011,709,2851,318,3491,417,1551,613,7862,386,4581,208,238

141

1,793,7921,428,4861,676,6991,694,4691,590,2961,478,1221,401,9181,522,3231,700,8841,492,1571,584,1081,586,7981,520,2761,617,0781,504,9071,684,1051,620,7371,582,3251,538,3381,599,7311,432,267

-1,417,7131,721,1751,500,5601,794,1611,407,1981,510,8241,539,5351,701,7841,417,5481,372,7821,562,3581,794,1611,372,782

311,253,0571,285,383

-2,831,1232,552,673

-2,868,8352,997,2882,264,8762,825,4343,369,845

-2,738,666

-2,729,1432,505,4352,121,1683,223,8642,797,8622,768,6842,274,0433,273,8662,493,1063,059,2963,528,2652,771,1042,800,869

-2,504,0913,064,7903,620,9612,128,5443,798,0652,796,6462,634,4143,279,9472,563,3712,432,1313,390,0022,037,2442,911,180

-2,334,6612,705,794

--

2,273,9762,341,0892,652,852

-2,286,7873,692,3313,471,4742,443,1612,404,1192,872,8194,783,7531,952,261

111

-2,350,9162,875,6742,903,0872,747,300

-2,608,3372,458,3693,045,907

-2,929,2172,876,8292,769,5792,851,9302,849,104

-3,027,556

-2,577,3482,921,2402,323,601

-2,347,0302,805,302

-3,343,3332,529,0972,587,6292,569,2513,001,9692,468,9402,275,0002,721,7423,343,3332,275,000

252,069,1402,127,408

-3,591,621

---

4,225,874-

4,007,388--

4,051,819--

3,415,7202,962,4974,420,044

--

3,086,6054,370,5123,492,1354,110,7634,572,932

-3,892,719

---

5,080,2012,916,8275,408,2853,934,3133,561,9874,693,0323,474,1313,388,5854,550,2072,598,6543,605,482

-3,160,8533,812,211

---

3,353,3473,673,590

-3,106,1054,886,0784,823,0993,451,4783,181,2343,817,0615,927,8462,478,514

81

-3,046,0463,809,8393,931,496

--

3,759,029---

4,083,2743,857,0533,772,850

-3,827,218

-----

2,948,280-

3,150,7673,539,779

--

3,894,4393,517,0893,540,1523,988,0013,411,5502,942,0033,589,3454,083,2742,942,003

172,777,2212,868,388

Economic survey gets realistic on

rowth

After more data were out on the health

of the economy, the economic

advisers in the finance ministry now

realised that clocking 7.5 per cent

growth may be a difficult task for the

current financial year. Not that, they

were very sure of this target when

volume I of the Economic Survey was

released in January this year. What

they had projected was a wide range

of 6.75-7.5 per cent. So, they had

forecast both lower than 7.1 per cent

growth, achieved in 2016-17, as well

as higher than that, not sure of how

twin balance sheet problem will pan

out. However, now they are more firm

that risks to the upper range have

increased. The International Monetary

Fund (IMF) and the World Bank have

already projected India's economy to

grow 7.2 per cent, a tad higher than

last year's.

Car sales up by 9% in July

Domestic passenger vehicle sales

increased 15.12 per cent to 2,98,997

units in July from 2,59,720 units in the

same month last year. Domestic car

sales were up 8.52 per cent at

1,92,773 units as against 1,77,639

units in July last year, according to

data released by the Society of Indian

Automobile Manufacturers (SIAM).

Motorcycle sales rose 16.9 per cent to

10,48,657 units last month compared

to 8,97,084 units a year earlier. Total

two-wheeler sales in July grew 13.73

per cent to 16,79,055 units as against

14,76,332 units in the year-ago month.

Good monsoon expected to lead to

bumper harvest, rein in retail

inflation

India's consumer inflation is expected

to have picked up in July after easing

for three straight months, with food

prices back on the rise, but is

expected to remain well below the

central bank's target. The consumer

price index, the main policy target of

the Reserve Bank of India (RBI), likely

rose 1.87 per cent in July from a year

earlier, according to a Reuters poll of

economists, compared with an

increase of 1.54 per cent in June. The

wholesale price index likely rose 1.3

per cent in July, after four months of

easing. In June, WPI rose 0.9 per cent.

India to overtake US as second

largest 4G phone base by 2018

Explosive growth in data usage, driven

by attractive offers from operators like

Reliance Jio and Airtel, is likely to

catapult India as the second largest

4G handset market by next year, a

report by Counterpoint said. With an

estimated installed base of 340 million

4G devices, India will displace the US

as the second largest market. With a

base of 150 million users, India is

currently placed behind China and the

US, the report said. While the US is

forecast to see the 4G installed base

grow to 245 million from 225 million

currently, the Indian market is

expected to grow at a faster pace,

driven by increasing adoption of

mobile Internet. China, on the other

hand, would continue to dominate the

tally with 780 million 4G devices next

year, growing from 740 million

currently.

Fiscal deficit at 81% of budget

estimates in Q1

Fiscal deficit in the first quarter of the

current fiscal was Rs 4.42 lakh crore or

80.8 per cent of Budget Estimates for

2017-18, much higher than in the

year-ago period. The fiscal deficit

situation during April-June of the last

fiscal was 61.1 per cent. The

government aims to restrict the deficit

to 3.2 per cent of GDP in the current

fiscal as against 3.5 per cent in

2016-17. In absolute terms, 3.2 per

cent deficit for the current fiscal works

out to Rs 5,46,532 crore. As per the

data released by the Controller

General of Accounts, tax revenue was

Rs 1,77,337 crore or 14.5 per cent of

the estimate.

July factory activity contracts to 9-yr

low on confusion over GST

implementation

Factory activity plunged last month

and had its deepest contraction in

more than nine years after Prime

Minister Narendra Modi's new tax

policy severely hurt output and

demand, a survey showed.

The Nikkei/IHS Markit Manufacturing

Purchasing Managers' Index fell to

47.9 in July from June's 50.9, its first

reading below the 50 mark that

separates growth from contraction

since December and its lowest

reading since February 2009. A

Reuters poll predicted a modest July

dip to 50.8. But July brought the

biggest month-on-month decline

since November 2008, just after the

collapse of Lehman Brothers triggered

a financial crisis and brought on a

global recession.

E-commerce market to touch Rs 2

lakh cr in FY18: Govt

The e-commerce segment in India is

growing and is likely to touch $33

billion this fiscal. In the 2016-17 fiscal,

the online market had grown by 19 per

cent, according to Minister of State for

Consumer Affairs C R Chaudhary.

India's e-commerce market is

estimated to be $33 billion in the

financial year 2017, he said, quoting

industry body NASSCOM's latest

estimates. On consumer complaints,

the minister said that as many as

28,770 complaints were registered

against the segment on the National

Consumer Helpline (NCH) last fiscal. If

consumer complaints are not resolved

and if there is no response from the

company, then consumers are

advised to approach appropriate

consumer forum, he added.

Over 21,00,000 Indians applied for

H-1B visa in last 11 years: Report

More than 21 lakh Indian technology

professionals have applied for H-1B

work visas in the last 11 years, an

official report has said. The report of

the US Citizenship and Immigration

Services (USCIS) has also refuted the

impression that those who applied for

the visa were not highly qualified. On

an average, their salary over the last

11 years has been USD 92,317 and an

overwhelming majority of them are

masters or bachelor's degree holder.

In terms of number of H-1B

applications between 2007 and 2017,

India is followed by a distant China

with 296,313 H-1B applications,

Philippines (85,918), South Korea

(77,359), and Canada (68,228).

DISCLAIMER: We have taken due care and caution in compilation of this booklet. The information has been obtained formvarious reliable sources. However it does not guarantee the accuracy, adequacy or completeness of any information and are not responsible for any errors or omissions of the results obtained from the use of such information. Investors shold seek proper financial advise regarding the appropriateness of investing in any of the schemes stated, discussed or recommended in this newsletter and should realise that thestatements regarding future prospects may or may not realise. Mutual fund investments are subject to market risks. Please read the offer document carefully before investing. Past performance is for indicative purpose only and is not necessarily a guide to the future performance.