Jan - Mar, 2020

Cat

egor

yS

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Fund

Nam

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anag

erG

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ng o

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aram

eter

sO

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ll R

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g

Ret

urns

(%

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ate

of

Ince

ptio

nN

AV

(D

ec 1

6th

)A

UM

(R

s. C

r.)

Key

Ind

icat

ors

Per

form

ance

Ris

kQ

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y1

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3 Y

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cept

ion

Sta

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dD

evia

tion

Bet

a

Equ

ity

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fied

1IC

ICI P

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9.54

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Equ

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10-J

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5N

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11-O

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6526

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856

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FC E

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24-F

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Equ

ity

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1M

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28-S

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2H

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30-A

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223

0.49

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845

Fran

klin

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Fund

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6IC

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Equ

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Kot

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Fran

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RATING LEVERS

PERFORMANCE

The Performance parameter captures the return generated by the fund over historical periods. The returns in the recent year is given highest performance to capture any

shift in style and the momentum in performance. Higher the return generated by a scheme, higher the performance rating.

RISK

The Risk parameter measures the ability of the portfolio manager to create safe portfolio that can go handle the market volatility. Various risk related measures including

volatility, sharpe, sortino etc. are considered to arrive at the final risk score. Lower the risk in portfolio, safer the portfolio is and higher is the risk rating.

ASSET QUALITY

Asset quality grades the investments across asset classes, asset types, market cap classification etc. and ascertains the health of asset mix in the portfolio. Performance with

high quality of investments is given a higher score e.g. a debt fund manager who has generated performance by being in higher rated papers would get better rating than

his/her peer who might be invested in low rated papers.

Definitions

Standard Deviation - Standard deviation is a measure of risk that an investment will not meet the expected return in a given period. The smaller an investment’s

standard deviation, the less volatile (and hence risky) it is.

Beta - Beta, also known as the “beta coefficient,” is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. A

fund with a beta greater than 1 is considered more volatile than the market; less than 1 is less volatile,

Average Maturity - Average maturity indicates the sensitivity of the portfolio to interest rate changes. The higher the average maturity, the greater is the volatility of

returns in the fund.

YTM - The YTM of a debt fund portfolio is the rate of return an investor could expect if all the securities in the portfolio are held until maturity.

Disclaimer: This document is issued by Equitas Small Finance Bank, India. While all reasonable care has been taken in preparing this document, no responsibility or liability

is accepted for any errors of fact or for any opinion expressed herein. Opinions, projections and estimates are subject to change without notice and it does not give rise

to any obligation on ourpart to update and circulate the document. This document is for information purposes only and is not an independent research. Customer shall

make his/her/its own judgement and assessment relating to a product in which investment is made. It is meant only for use as a reference tool. It has notbeen prepared for

any particular person or class of persons. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt anyhedging,

trading or investment strategy, nor does it constitute any prediction of likely future movements in rates of prices or any representation that any such future movements

willnot exceed those shown in any illustration. The contents of this document are not made with regard to the specific investment objectives, financial situation or the

particular needs ofany particular person. Any investments discussed may not be suitable for all investors. All information presented here are based on past performance.

Past performance is notnecessarily indicative of future performance; the value, price or income from investments may fall as well as rise. Equitas Small Finance Bank, India,

and/or a connected company, mayhave a position in any of the instruments or currencies mentioned in this document. You are advised to make your own independent

judgment with respect to any matter containedherein and Equitas Small Finance Bank has no responsibility or obligation in connection with your decision to invest in the

funds referred to in this document. Other persons should notrely on this document.

Equitas Small Finance Bank, India and/or its group companies is not responsible for any damages or losses arising from any use or reliance on the information contained

in this document. The information is provided without obligation and on the understanding that any person who acts on it or changes it, his or her position in reliance on

it does so entirely atits, his or her own risk. As such to the extent permitted by law, Equitas Small Finance Bank, India accepts no liability and will not be liable for any loss

or damage arising directly orindirectly (including special, accidental, business loss or consequential loss or damages) from your use of this document and the information

contained herein, howsoever arising and includingany damage or expense arising from, but not limited to any defect, error, imperfection, fault, mistake or inaccuracy with

this document and its contents or associated services or due to any unavailability of the document or any part thereof or any contents or associated services. Equitas Small

Finance Bank, India acts as a distributor of the fund referred to in this document (which represents only a portion of all the funds available in the market). Equitas Small

Finance Bank, receives fees including trail commissions for the funds that it distributes.

Equitas Small Finance Bank does not provide any investment advisory services under the wealth management proposition. Equitas Small Finance Bank in its capacity of a

distributor of mutual funds or while referring any other third party financial products may offer advice which is incidental to its activity of distribution/ referral. Equitas Small

Finance Bank will not be charging any fee/ consideration for such advice and such advice should not be construed as ‘Investment Advice’ as defined in the Securities and

Exchange Board of India (Investment Advisers) Regulations, 2013 or otherwise. Investments are subject to market risk. All materials text, articles and information contained

herein is the property of Equitas Small Finance Bank, India and may not be reproduced, redistributed or forward without written consent of Equitas Small Finance Bank,

India.

RATING METHODOLOGY :: THE TRUE NORTH PERSPECTIVE

True North

True North (geodetic north) is the ‘actual’ direction along the earth’s surface towards the geographic North Pole. True North usually differs from magnetic north (the

direction that a compass points toward the magnetic north pole), which is slightly erroneous due to the influence of earth’s magnetic field (adapted from Wikipedia).

Fund Rating with True North

The rating of mutual fund schemes aims to show True North with respect to the analysis of funds. It intends to find the healthiest funds in respective category that have

the potential to generate consistent performance with appropriate risk. The methodology goes beyond the conventional NAV based analysis and discovers the true quality

of performance by uncovering the true sources that have generated performance. The methodology uses advanced analytics to quantify various qualitative parameters like

fund manager’s skill and style by conducting a detailed attribution analysis wherever data permits.

The rating methodology described is developed by Valuefy Solutions Private Limited and uses advanced analytics to conduct a comprehensive health-check of mutual

fund schemes. Funds are pre-screened for vintage and AUM size and the ones that qualify, enter the screening universe. The funds are classified into categories and are

compared with the peers within the category.

The rating methodology is developed by Valuefy Solutions Private Limited including data and information provided herewith. Equitas Small Finance Bank has not independently verified the same.