Corporate Presentation - Sundaram Mutual · PDF fileCorporate Presentation October 2017 . 2...

1

Corporate Presentation

December 2017

2

PARENTAGE

Sundaram Finance

Fully Owned Subsidiaries*

JVs

Sundaram Business Services Limited

Outsourcing services

Sundaram Asset Management

Mutual Funds, Portfolio Management, AIF

Royal Sundaram General Insurance

Sundaram BNP Paribas Home

Finance Home loans

Sundaram BNP Paribas Fund

Services R & T Agent

*Not an exhaustive list

PARENT PROFILE – KEY FACTS OF SUNDARAM FINANCE

3

Pioneer in the leasing and hire purchase

business

First NBFC to be listed - in 1972

Market Cap - Rs 20,811 Crores as on

29 December 2017

615 offices; over 6,000 employees

Market cap has grown at CAGR of 30.2%

since listing

Deposits rated AAA by CRISIL and ICRA

4

SUNDARAM ASSET MANAGEMENT COMPANY – EVOLUTION AND KEY FACTS

AUM - Rs 37,350 crores as on

29 December, 2017

Ranked 14th in the Asset Management

Industry

Jointly promoted by Sundaram Finance and

Newton Asset Management

Sundaram Finance buys out Newton

JV with BNP Paribas

Sundaram Finance buys out BNP’s stake

1996

2002

2006

2010

2012

100% subsidiary established in Singapore

for Asset Management business

AUM has grown at a CAGR of 16%

over last 10 years

ASSETS UNDER MANAGEMENT - OVERALL

5

AUM Composition In Rs. Crs. AUM Growth

Data as of December 2017

13,288

12,274 12,978

15,597

20,016

22,346

29,579

37,350

10,000

15,000

20,000

25,000

30,000

35,000

40,000

Mar

20

11

Mar

20

12

Mar

20

13

Mar

20

14

Mar

20

15

Mar

20

16

Mar

20

17

Dec

201

7

Fixed Income 39%

Equity 52%

PMS 3%

International 4%

AIF 2%

6

STRONG RETAIL FOOTPRINT

Customers

Managed over 56 lakh customer folios since inception

13,69,776 active customer folios

3,78,309 customer transactions per month through Systematic Investment Plan

Geographic Footprint

89 customer care centers spread across 21 States, with offices in Singapore and Dubai

Diversified customer base – by customer folio and AUM

Distribution footprint

35,539 empaneled distributors

6,671 distributors submit purchase transactions every month

EAST, 8%

NORTH, 17%

SOUTH, 34%

WEST, 41%

Folio

EAST, 6%

NORTH, 23%

SOUTH, 30%

WEST, 41%

AUM

7

CONSISTENT TRACK RECORD OF REWARDING INVESTORS

Dividends

Strong customer preference for dividends - 4,77,733 (35%) of customer folios in dividend option

Fund % Rs. Per unit - on NAV of Rs 10

Select Midcap Fund 426 42.60

Diversified Equity 395 39.50

Balanced Fund 237.70 23.77

Select Focus 345 34.50

S.M.I.L.E 230 23.00

Many of the funds have returned multiple times the initial capital to investors

Past performance may or may not be sustained in the future

8

Investment Philosophy, Process and Risk Management

9

INVESTMENT PHILOSOPHY

Strong investment process

21 member Investment Team

Equity: 3 Fund Managers, 2 Assistant Fund Managers, 8 Analysts, 2 Dealers

Fixed Income: 3 Fund Managers, 2 Credit Analysts, 1 Dealer

1 Economist

Equity

~400 companies under coverage

~250 companies under active coverage (quarterly management visits)

Fixed Income

~350 companies covered in credit universe

10

INVESTMENT PROCESS

Fundamentals &

Management

Assessment

Fund Mangers+

Economist RESEARCH TEAM

External Research

Published Information

Company Visit

Recommended

List

Internal Investment

Committee

Dynamic Fund Portfolio

APPROVED BUY LIST

Executive

Committee

STOCK/ SECURITY

SELECTION Top-Down

Approach

Fund Themes/

Fund Positioning

Sector and Stock Limits/

Issuer & Security Allocation Limits

Bottom-Up Stock Picking/

Asset Quality Evaluation &

External Ratings Po

rtfo

lio

Co

ns

tru

cti

on

Ide

a F

low

&

Re

se

arc

h

Ap

pro

va

l

of

Sto

ck

s/ S

ec

uri

tie

s

Best Trade Execution

Risk Management

Norms

Idea

Generation

Diversification

Liquidity

ROBUST RISK MANAGEMENT PROCESS

11

Risk Management is a core and integral part our business. Our Enterprise Risk Management (ERM) framework has risk policies, guidelines and processes which holistically facilitates optimal risk exposure across functions and ensures that effective control and governance mechanisms are in place.

• Audit Committee of the board oversees the overall ERM framework. The Risk Management team, currently with four members, reports to the COO and functions independently. Investment Risks are monitored at the fund house level, individual fund portfolio level and at the specific investment level. Risk Management Team is actively involved in the overall Investment Process at all stages.

Organization

• Market Risks are managed through absolute and active exposure norms/limits to various factors such as asset class, sector, theme, duration, market cap and style; Market Risk is monitored at both security and fund portfolio levels;

Market Risks

• Internal Credit Committee oversees the credit process. Credit Analyst is independent from the fund management function and is part of the risk management team. Credit risks are managed through continuous evaluation of willingness and ability of issuer to service the debt and through company level and group level credit limits

Credit Risks

• Liquidity at both Security level and portfolio level is closely monitored and aligned with overall product risk profile. Portfolio liquidity is also relatively evaluated with respect to the investor and channel concentration in a particular fund. Changes in market volume and the impact costs are closely tracked.

Liquidity Risks

• Internal Risk Management Committee (IRMC), which has members from all department, reviews firm wide operational and cross-functional risks. Firm wide incidents are recorded, the root causes and the impacts are analyzed and the remedial preventive and corrective actions are closely tracked by the risk management team.

Operational Risks

A Monthly Risk Review is conducted by the top management to discuss firm wide investment and operational risks.

12

Equity

ASSETS UNDER MANAGEMENT – EQUITY

13


In Rs. Crs. AUM Composition AUM Growth

9,131

7,408 5,839

5,356

8,414

8,907

12,937

19,416

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

22,000

Mar

20

11

Mar

20

12

Mar

20

13

Mar

20

14

Mar

20

15

Mar

20

16

Mar

20

17

Dec

201

7

Close ended 19%

Mid Cap & Small Cap 42%

Large Cap & Multi Cap 23%

Thematic & Sectoral

16%

14

EQUITY FUNDS – RISK RETURN SPECTRUM

LOW

Select Focus

Select Mid Cap

Rural India Equity Multiplier

Diversified Equity

Balanced

Financial Services Opportunities

SMILE

Global Advantage

Infrastructure Advantage

HIGH

Equity Plus

Micro Cap Series

Top 100

Select Small Cap

Value

World Brand

Long Term Tax Advantage

Smart NIFTY 100 Equal Weight Fund

15

Equity - Performance of Top 3 Funds

16 Mutual Fund Investments are subject to market risks, read all scheme related documents carefully

Sundaram Select Mid Cap

I - SUNDARAM SELECT MIDCAP (INVESTS IN MID AND SMALL CAPS)

17

Value of Rs. 10,000 invested at launch One Time Investment - Returns (%)

CAGR Since Launch: 29.6% vis-a-vis benchmark return of 20.8%.

Consistently outperformed the benchmark

An investment of Rs.10,000 at launch is now worth Rs 5,47,941.

The fund has delivered higher value of Rs. 3,63,934 as compared to

the benchmark for 10,000 invested at launch

AUM: Rs. 6,593 cr

Type of Fund: Open-ended equity scheme

Returns as on December 2017; in house calculations; Benchmark: S&P BSE Midcap Index

The performance details are provided for Regular Plan Growth Option

Different plans shall have a different expense structure

The Fund Manager, S.Krishnakumar, has been managing this fund since Nov 2012.


Dividend: 426% since launch No. of folios: 4.18 lakh

40.8

20.3

26.1 29.6

48.1

19.8 20.2 20.8

28.7

8.3

12.3

16.8

0

5

10

15

20

25

30

35

40

45

50

Last 1 year Last 3 years Last 5 years Since Inception

Fund Benchmark Nifty 50

-50,000

50,000

150,000

250,000

350,000

450,000

550,000

Jul-

02

Jul-

03

Jul-

04

Jul-

05

Jul-

06

Jul-

07

Jul-

08

Jul-

09

Jul-

10

Jul-

11

Jul-

12

Jul-

13

Jul-

14

Jul-

15

Jul-

16

Jul-

17


3.0X

18

REGULATORY DISCLOSURES

Performance – Returns (%)

Fund (%) Benchmark (%)

Additional

Benchmark

(%)

Last 1 Year 40.8 48.1 28.7

Last 3 Years 20.3 19.8 8.3

Last 5 Years 26.1 20.2 12.3

Since inception 29.6 20.8 16.8

Rs.10,000 invested

Fund (Rs.) Benchmark (Rs.)

Additional

Benchmark

(Rs.)

Last 1 Year 14,077 14,813 12,865

Last 3 Years 17,420 17,182 12,714

Last 5 Years 31,905 25,056 17,833

Since inception 5,47,941 1,84,007 1,09,621

Past performance may or may not be sustained in the future Data Source: In house calculations as on December 2017

• Different plans shall have a different expense structure. • The returns are calculated on CAGR basis since inception of the scheme and for periods above one year as on

December 31, 2017 and on an absolute basis for one-year period for Regular Plan - Growth Option. • The fund manager has been managing this fund since November 2012.

• Benchmark: S&P BSE Midcap Index; Additional Benchmark: Nifty 50

• Fund Manager individually manages 26 funds of the Mutual

Fund. • Performance data of Top 3 and bottom 3 funds managed

by the fund manager is provided herein. • Different plans shall

have a different expense structure. • The performance details are

provided for Regular Plan Growth Option. • Performance data is

as of December 31, 2017 • The fund manager has been

managing Select Micro Cap funds Series since inception of the

respective funds, Sundaram Select Small Cap Series II since

Nov 2014, Diversified Equity since Apr 2015 and Sundaram

Financial Services Opportunities since Dec 2017.

Performance details for other schemes managed by Mr. S. Krishnakumar

19

Sundaram S.M.I.L.E Fund

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully

II - SUNDARAM S.M.I.L.E (INVESTS IN SMALL CAPS)

20


CAGR Since Launch: 20.8% vis-a-vis benchmark return of 13.7%. An investment of Rs.10,000 at launch is now worth Rs 1,13,443.

The fund has delivered higher value of Rs. 61,504 as compared to


AUM: Rs. 1,481 cr



Type of Fund: Open-ended equity scheme

Returns as on December 2017; in house calculations; Benchmark: S&P BSE Smallcap Index



The Fund Manager, S.Krishnakumar, has been managing this fund since Dec 2006.

55.6

18.8

27.1

20.8

59.6

20.2 21.1

13.7

28.7

8.3 12.3 13.4

0

10

20

30

40

50

60



0

20,000

40,000

60,000

80,000

100,000

120,000

Feb

-05

Sep

-05

Ap

r-0

6

No

v-06

Jun

-07

Jan

-08

Au

g-0

8

Mar

-09

Oct

-09

May

-10

Dec

-10

Jul-

11

Feb

-12

Sep

-12

Ap

r-1

3

No

v-13

Jun

-14

Jan

-15

Au

g-1

5

Mar

-16

Oct

-16

May

-17

Dec

-17


2.2x

21




Additional

Benchmark

(%)

Last 1 Year 55.6 59.6 28.7

Last 3 Years 18.8 20.2 8.3

Last 5 Years 27.1 21.1 12.3


Rs.10,000 invested


Additional

Benchmark

(Rs.)

Last 1 Year 15,558 15,964 12,865

Last 3 Years 16,748 17,345 12,714

Last 5 Years 33,204 26,058 17,833

Since inception 1,13,443 51,939 50,387



December 31, 2017 and on an absolute basis for one-year period for Regular Plan - Growth Option. • The fund manager has been managing this fund since Dec 2006. •

Benchmark: S&P BSE Smallcap Index; Additional Benchmark: Nifty 50





provided for Regular Plan Growth Option. • Performance data is as

of December 31, 2017. • The fund manager has been managing

Select Micro Cap Series since inception of the respective funds,

Sundaram Select Small Cap Series II since Nov 2014, Diversified

Equity since April 2015 and and Sundaram Financial Services

Opportunities since Dec 2017.


22

Sundaram Diversified Equity


III - SUNDARAM DIVERSIFIED EQUITY (MULTI CAP FUND)

23




An investment of Rs.10,000 at launch is now worth Rs.2,15,640.

The fund has delivered higher value of Rs.1,24,029 as compared to


AUM: Rs. 2,563 cr



Type of Fund: Open-end Equity-Linked Savings Scheme (ELSS) with a 3 year lock-in period

Returns as on December 2017; in house calculations



The Fund Manager, S.Krishnakumar, has been managing this fund since April 2015.

38.4

15.1 17.7 18.5

33.3

10.9

14.1 13.0

28.7

8.3

12.3 11.9

0

5

10

15

20

25

30

35

40



0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

220,000

No

v-99

Jul-

00

Mar

-01

No

v-01

Jul-

02

Mar

-03

No

v-03

Jul-

04

Mar

-05

No

v-05

Jul-

06

Mar

-07

No

v-07

Jul-

08

Mar

-09

No

v-09

Jul-

10

Mar

-11

No

v-11

Jul-

12

Mar

-13

No

v-13

Jul-

14

Mar

-15

No

v-15

Jul-

16

Mar

-17

No

v-17

Fund BSE 200 Index Nifty 50

2.4x

24




Additional

Benchmark

(%)

Last 1 Year 38.4 33.3 28.7

Last 3 Years 15.1 10.9 8.3

Last 5 Years 17.7 14.1 12.3


Rs.10,000 invested


Additional

Benchmark

(Rs.)

Last 1 Year 13,844 13,326 12,865

Last 3 Years 15,252 13,649 12,714

Last 5 Years 22,533 19,299 17,833

Since inception 2,15,640 91,611 76,573



December 31, 2017 and on an absolute basis for one-year period for Regular Plan - Growth Option. • The fund manager has been managing this fund since April 2015. •

Benchmark: S&P BSE 200 Index Additional Benchmark: Nifty 50





provided for Regular Plan Growth Option. • Performance data is

as of December 31, 2017. • The fund manager is managing

S.M.I.L.E Fund since Dec 2006, Select Micro Cap Series since

inception of the respective funds and Select Small Cap Series II

since Nov 2014 and Financial Services Opportunities fund since

Dec 2017.


25

Fixed Income

ASSETS UNDER MANAGEMENT

26


In Rs. Crs.

AUM Composition AUM Growth

3,904

4,254

6,929

9,852 10,453

11,820

14,501 14,459

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Mar

20

11

Mar

20

12

Mar

20

13

Mar

20

14

Mar

20

15

Mar

20

16

Mar

20

17

Dec

201

7

Close ended 19%

Money 41%

Ultra Short-Term 21%

Short term 14%

Medium & Long term 5%

RISK-RETURN SPECTRUM

27

Flexible Fund – Flexible

Income Plan

Bond Saver

MIPs

GILT Fund

Ret

urn

Risk

Money Fund

Banking & PSU Debt

Ultra Short term Fund

Select Debt Short Term Asset Plan

Income Plus

Low Risk to High Risk Low Return to High Return

FTP

Capro

Hybrid

28

EMPHASIS ON CREDIT QUALITY


G-Secs 4.4%

A1+ (short term) 55.8%

AAA (medium term) 26.6%

AA+/AA/AA- 8.0%

A+/A/A- 0.7%

Cash Equivalents 4.6%

29

Fixed Income - Performance of Top 3 Funds

30

Sundaram Money Fund


I - SUNDARAM MONEY FUND

31

AUM: Rs.5,988 cr



Rating Profile Long-term Returns (%)



Ranked 2 by CRISIL

3 stars by Value Research Ratings Type of Fund: Open-ended liquid scheme




The Fund Managers, Dwijendra Srivastava and Siddharth Chaudhary, have been managing this fund since July 2010 and Sep 2010 respectively.

7.81 8.17

7.50

6.62

7.41

8.12

7.45

6.66 6.40

7.74 7.12

6.35

0

1

2

3

4

5

6

7

8

9

Since Inception Last 5 years Last 3 years Last 1 year

Fund Benchmark CRISIL 91D Tbill

Sovereign, 0.6%

Highest/High Investment

Grade, 98.2%

Reverse Repo/CBLO, 0.8%

Cash & Others, 0.4%

32




Additional

Benchmark

(%)

Last 1 Year 6.62 6.66 6.35

Last 3 Years 7.50 7.45 7.12

Last 5 Years 8.17 8.12 7.74


Rs.10,000 invested


Additional

Benchmark

(Rs.)

Last 1 Year 10,662 10,666 10,635

Last 3 Years 12,427 12,410 12,294

Last 5 Years 14,813 14,777 14,521

Since inception 24,755 23,681 21,139



December 31, 2017 and on an absolute basis for one-year period for Regular Plan - Growth Option. • The fund manager has been managing this fund since July 2010. •

Benchmark: CRISIL Liquid Fund Index Additional Benchmark: CRISIL 91 D TBill

• Fund Manager jointly manages 9 funds of the Mutual Fund. •

Performance data of Top 3 and bottom 3 funds managed by the

fund manager is provided herein. • Different plans shall have a

different expense structure. • The performance details are

provided for Direct Plan Growth Option. • Performance data is as

of December 31, 2017.

Performance details for other schemes managed by Mr. Dwijendra Srivastava

33

Sundaram Ultra Short-Term Fund


II - SUNDARAM ULTRA SHORT-TERM FUND

34

AUM: Rs. 2,586 cr


Dividend: 390% since launch No. of folios: 22,172




Ranked 3 by CRISIL

2 stars by Value Research Ratings Type of Fund: Open-ended income scheme





8.23 8.32

7.57

6.55

7.52 8.12

7.46

6.62 6.54

7.74 7.12

6.31

0

1

2

3

4

5

6

7

8

9


Fund Benchmark CRISIL 91D TbillSovereign, 2.7%

Highest/High Investment

Grade, 93.9%

Reverse Repo, 2.6%

Cash & Others, 0.9%

35




Additional

Benchmark

(%)

Last 1 Year 6.55 6.62 6.31

Last 3 Years 7.57 7.46 7.12

Last 5 Years 8.32 8.12 7.74


Rs.10,000 invested


Additional

Benchmark

(Rs.)

Last 1 Year 10,655 10,666 10,635

Last 3 Years 12,443 12,410 12,294

Last 5 Years 14,908 14,777 14,521

Since inception 23,306 21,727 19,695












36

Sundaram Banking & PSU Debt Fund


III – SUNDARAM BANKING & PSU DEBT FUND

37

AUM: Rs. 1,180 cr


Dividend: 390% since launch No. of folios: 1,465



Type of Fund: Open-ended income scheme





8.08 8.09 7.53

6.23

7.92

8.64 8.17

6.01 6.27

7.15 7.11

5.81

0

1

2

3

4

5

6

7

8

9

10


Fund Benchmark CRISIL 1Yr Tbill

Sovereign 20.3%

Highest Investment Grade

58.2%

Reverse Repo/CBLO

19.8%

Cash & Others 1.7%

38




Additional

Benchmark

(%)

Last 1 Year 6.23 6.01 5.81

Last 3 Years 7.53 8.17 7.11

Last 5 Years 8.09 8.64 7.15


Rs.10,000 invested


Additional

Benchmark

(Rs.)

Last 1 Year 10,623 10,601 10,581

Last 3 Years 12,431 12,653 12,286

Last 5 Years 14,751 15,134 14,120

Since inception 19,771 19,519 17,045












39

Portfolio Management

ASSETS UNDER MANAGEMENT - PORTFOLIO MANAGEMENT

40

Data as of December 2017 Sundaram India Secular Opportunities Portfolio (SISOP)

Portfolio of Attractive Company’s Equity (PACE)

In Rs. Crs. AUM Composition AUM Growth

A Core and a Satellite approach, balancing Value & Growth

Concentrated set of high conviction stocks

120 130 210

390

975

1,280 1,359

1,353

0

200

400

600

800

1,000

1,200

1,400

1,600

Mar

20

11

Mar

20

12

Mar

20

13

Mar

20

14

Mar

20

15

Mar

20

16

Mar

20

17

Dec

201

7

Advisory 21%

SISOP 15%

Mid cap strategy

16% PACE 8%

Micro cap strategy

8%

Other Strategies 32%

PERFORMANCE OF TOP STRATEGIES

41

Sundaram India Secular Opportunities Portfolio (SISOP)

Value of Rs.25 Lakh invested in Model Portfolio

Sundaram Mid cap Strategy

Sundaram Portfolio of Attractive Companies Equity – (PACE)

Investing in a concentrated set of high conviction stocks that exhibit secular growth characteristic

Investing in midcap stocks that are in early stages of their business cycle

Strategy

Benchmark

Follows a Core and a Satellite approach, balancing between value and growth


65.3 lakhs

113.3 lakhs

52.0 lakhs

71.9 lakhs

58.0 lakhs

160.1 lakhs

0

2000000

4000000

6000000

8000000

10000000

12000000

14000000

16000000

18000000

Feb

-10

Au

g-1

0

Feb

-11

Au

g-1

1

Feb

-12

Au

g-1

2

Feb

-13

Au

g-1

3

Feb

-14

Au

g-1

4

Feb

-15

Au

g-1

5

Feb

-16

Au

g-1

6

Feb

-17

Au

g-1

7

70000

1070000

2070000

3070000

4070000

5070000

6070000

7070000

8070000

Sep

-13

De

c-1

3

Mar

-14

Jun

-14

Sep

-14

De

c-1

4

Mar

-15

Jun

-15

Sep

-15

De

c-1

5

Mar

-16

Jun

-16

Sep

-16

De

c-1

6

Mar

-17

Jun

-17

Sep

-17

De

c-1

7

50000

2050000

4050000

6050000

8050000

10050000

12050000

Jun

-10

De

c-1

0

Jun

-11

De

c-1

1

Jun

-12

De

c-1

2

Jun

-13

De

c-1

3

Jun

-14

De

c-1

4

Jun

-15

De

c-1

5

Jun

-16

De

c-1

6

Jun

-17

De

c-1

7

42

Alternative Investment Fund (AIF)

43

FUNDS LAUNCHED - 1

Under Category III

Sundaram Alternative Opportunities Fund – Nano Cap Series I and II

Total commitments received – Rs. 736 Crores

Salient Features

Nano cap stocks are typically Under Invested and Under Researched falling between VC and Small caps – thereby offering potential

for outsized returns in a patient long term investing style

Opportunity to leverage on Sundaram’s Research - Identify companies with potential for strong growth that can expand into higher

valuations

Fund invests in stocks predominantly with a market cap of Rs 1,500 crores and below at the time of initial investment

Absolute Target Return Fund - Focused Portfolio of 15-25 companies, averaging around 20

4 year close ended fund with exit window

44

FUNDS LAUNCHED - 2

Under Category II

Sundaram Alternative Opportunities Series – High Yield Secured Debt Fund

Total commitments received – Rs. 223.65 Crores

Salient Features

Fund invests predominantly in high yielding corporate credit opportunities via debentures and other credit instruments including

mezzanine securities issued by Indian Real Estate developers that are fully secured by monetizable real estate assets in addition to other

assets/cash flows

The Fund investments will primarily focus on residential real estate projects in the South Indian cities such as Chennai, Bangalore,

Coimbatore, Hyderabad and in other select cities of Andhra Pradesh and opportunistic investments in Mumbai and Pune

Absolute Target Return Fund - Concentrated Portfolio of 15-30 companies or securities. Each investment of the Fund is expected to be in

the range of INR 30 – INR 50 crores

4 year close ended fund without exit window

45

KEY PERSONNEL

Name Designation Designation

Since

Overall

Experience

Experience at

SAMC

Harsha Viji Managing Director July 2012 17 years 7 years

Sunil Subramaniam CEO July 2015 31 years 12 years

S.Krishnakumar CIO, Equity April 2015 26 years 14 years

Dwijendra Srivastava CIO, Fixed Income April 2014 19 years 7 years

Bharath S

Fund Manager, PMS

and AIF (Category III) January 2016 15 years 13 years

Kumaran

Chandrasekaran

Fund Manager, AIF

(Category II) May 2017 12 years 7 months

46

DISCLAIMER – GENERAL

General Disclaimer: This document is issued by Sundaram Asset Management; an investment manager registered with the Securities and Exchange Board of

India in India and is produced for information purposes only. It is not a prospectus, scheme information document, offer document, offer and solicitation, to name a

few, to buy any securities or other investment. Information and opinion contained in this document are published for the assistance of the recipient only; they are not

to be relied upon as authoritative or taken as a substitution for exercise of judgment by any recipient. They are subject to change without any notice and not

intended to provide the sole basis of any evaluation of the instrument discussed or offer to buy. It is neither a solicitation to sell nor shall it form the basis of or be

relied upon in connection with any contract or commitment whatsoever or be taken as investment advice. The information and opinions contained in this

communication have been obtained from sources that Sundaram Asset Management believes to be reliable; no representation or warranty, express or implied, is

made that such information is accurate or complete and it should not be relied upon as such. Sundaram Asset Management neither guarantees its accuracy and/or

completeness nor does it guarantee to update the information from time to time. This communication is for private circulation only and for the exclusive and

confidential use of the intended recipient(s) only. Any other distribution, use or reproduction of this communication in its entirety or any part thereof is unauthorized

and strictly prohibited. By accepting this document you agree to be bound by the foregoing limitations. This communication is for general information only without

regard to specific objectives, financial situations and needs of any particular person who may receive it and Sundaram Asset Management is not soliciting any

action based on this document. Sundaram Asset Management in the discharge of its functions, may use any of the data presented in this document for its decision-

making purpose and is not bound to disclose the same. Copies of the Statement of Additional Information, Scheme Information Document and application form with

key information memorandum may be obtained from the offices of Sundaram Mutual offices and its authorized distributors or downloaded from

www.sundarammutual.com For scheme specific risk factors, asset allocation, load structure, fund facts and taxation aspects please refer scheme information

documents available online and at branches/Investor Service Centres; also at www.sundarammutual.com

Statutory: Mutual Fund: Sundaram Mutual Fund is a trust under Indian Trusts Act, 1882 Sponsors. Liability for sponsors is limited to Rs 1 lakh. Sponsors:

Sundaram Finance Ltd. Investment Manager: Sundaram Asset Management Company Ltd. Trustee: Sundaram Trustee Company Ltd.


http://www.sundaram/

http://www.sundarammutual.com/

47

DISCLAIMER – PORTFOLIO MANAGEMENT AND AIF

General Disclaimer: This document is issued by Sundaram Asset Management for your exclusive and confidential reference. This document is produced for

information purposes only. It does not constitute a prospectus or offer document or an offer or solicitation to buy any securities or other investment. Information and

opinion contained in this document are published for the assistance of the recipient only; they are not to be relied upon as authoritative or taken as a substitution for

exercise of judgment by any recipient. They are subject to change without any notice and not intended to provide the sole basis of any evaluation of the instrument

discussed or offer to buy. It is neither a solicitation to sell nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or

be taken as investment advice. The information and opinions contained in this communication have been obtained from sources that Sundaram Asset Management

believes to be reliable; no representation or warranty, express or implied, is made that such information is accurate or complete and it should not be relied upon as

such. Sundaram Asset Management neither guarantees its accuracy and/or completeness nor does it guarantee to update the information from time to time. This

communication is for private circulation only and for the exclusive and confidential use of the intended recipient(s). Any other distribution, use or reproduction of this

communication in its entirety or any part thereof is unauthorized and strictly prohibited. By accepting this document you agree to be bound by the foregoing limitations.

This communication is for general information only without regard to specific objectives, financial situations and needs of any particular person who may receive it and

Sundaram Asset Management is not soliciting any action based on this document. In the discharge of its functions, Sundaram Asset Management may use any of the

data presented in this document for its decision-making purpose and is not bound to disclose the same. For details about fund management services and

performance, please refer to the Disclosure Documents available at the offices of the AMC.

Securities investments are subject to market risks and there is no assurance or guarantee that the objectives of portfolios will be achieved. As with any

securities investment, the value of a portfolio can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Fund

Manager or AMC may not be indicative of the performance in the future. Sundaram Asset Management is not responsible or liable for losses resulting form the

operations of any portfolio. The value of any portfolio illustrated in this document may be affected by changes in the general market conditions, factors and forces

affecting capital markets in particular, level of interest rates, various market related factors and trading volumes, settlement periods and transfer procedures. The

liquidity of investments are inherently restricted by trading volumes in the securities in which it invests. Investors in portfolios are not offered any guaranteed returns.

THANK YOU

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