My Infrastructure, My Pride.

For Private Circulation OnlyAs on 30th November, 2010.

Mutual Funds investments are subject to market risks, read the scheme information documents carefully before investing.

My Infrastructure, My Pride.

India’s infrastructure is growing and so is our pride. Invest and benefit from India’s growing infrastructure:

FUND MANAGER SPEAKS

Equity market·After a strong start to the month on US Federal reserves decision to ease liquidity by USD 600 billion, the markets corrected over concerns of sovereign debt default in the European Union countries of Ireland, Portugal and Spain. Muddying of the domestic political scene due to investigations into Telecom spectrum allocation, some banking officials in the public sector banks accused of bribery and political developments in states like Karnataka and Andhra Pradesh also hurt sentiment, as investors worried about impact of events on policy direction. For the month the BSE Sensex and NSE 50 indices closed down 2.6% each at 19,521 and 5,863 respectively. This correction in the market has been quite synchronous with global markets correcting post the announcement of QE 2 by the US Fed. The dollar index also bounced from the lows made during October. The news flow on the need for a bailout in Ireland also spooked markets and increased risk aversion. This resulted in large caps outperforming mid caps which in turn outperformed small caps during this period. Auto, consumer durables, FMCG, health care, and IT indices out performed the Sensex, while banks, capital goods, metals oil & gas, power, PSU and realty indices lagged. The month saw FII’s pumping in USD 4.1 Billion (inflow of USD 6.4 Billion in October ‘10), while domestic mutual funds were net sellers of USD 19 million (net sellers of USD 1.3 Billion in October ‘10).

·In economic data flow, the Index of Industrial Production (IIP) reported for the month of September ‘10 showed an unusually low growth of 4.4%YoY (6.9%YoY in August ’10 as per revised estimates). The volatility in the IIP data can be smoothened by taking the April to September ‘10 year on year growth. For this period IIP grew a strong 10.2%YoY (compared to 6.3% same period last year). On a use basis manufacturing grew by 11%YoY, mining by 8.7%YoY and electricity by 3.8%YoY. The manufacturing Purchasing Managers Index for November ‘10 which is a lead indicator of the economy rose to 58.4 from 57.2 the previous month due to acceleration in output growth supported by larger order books. The spike in production backlog despite an increase in output indicates that capacity utilization is high. Input price indicators rose markedly but output prices grew faster. Taken together, these numbers reflect strong growth momentum in manufacturing and also point to future inflationary risks.

·GDP data for quarter ending September ’10 reported by the CSO, showed a growth of 8.9%YoY (same as the last quarter). This is the highest growth rate reported in the last 11 quarters and came higher than market expectations. Growth was led by services up 9.8%YoY (9.3% previous quarter) which was due to trade and hotels growth of 12.1%YoY and financial services growth of 8.3%YoY.Industry growth remained strong at 8.9%YoY though it moderated from 11.3%YoY in the previous quarter. As expected, given the strong rainfall this year, agriculture grew by 4.4%YoY compared to 2.5%YoY in the previous quarter reflecting the impact of the summer crop. Consumption now forms 71.7% of the GDP (private consumption is 60.6% and public consumption is 11.2%). GDP growth in the quarter ended September was driven largely by consumption which grew by 9.3%YoY.

·In the period from April ’10 to October ’10, corporate taxes grew by 21%YoY while personal taxes grew by 11%YoY leading to a total direct tax growth of 17%YoY. Indirect Taxes including excise and customs showed a growth of 51%YoY. Total tax collection increased by 26%YoY for the same period. If one were to adjust for the increase in indirect taxes due to partial withdrawal of fiscal stimulus, taxes have grown by about 20%YoY inline with nominal GDP growth. Such strong collections could result in the government meeting its fiscal deficit target of 5.5% of GDP, even in face of the supplementary demands for subsidy payments and social project allocations.

·On the policy front, on 2nd of November ’10 at its second quarter review of monetary policy, the RBI hiked its lending (repo) and borrowing( reverse repo) rate by 25 basis points to 6.25% and 5.25% respectively, while indicating a temporary pause to tightening interest rates in response to inflationary pressures. The cash reserve ratio was left unchanged at 6%. RBI has stated it will continue to keep a close watch on inflation, which could accentuate due to quantitative easing related commodity price increase and rising domestic capacity utilization levels. In response to tight liquidity conditions RBI reduced SLR (the amount banks have to keep in government securities as a percentage of their Net Demand and Time Liabilities) to 23% from 25%, reflecting the willingness of the central bank to respond to dynamic fund requirements of the Indian economy. Further action if liquidity conditions remain tighter than usual cannot be ruled out.

·RBI’s comments and economic data like the PMI continually point to high capacity utilization in Indian Industry, indicating that a new capex cycle is likely to get underway. If credit growth were to pick up tightness of funds could hurt but the RBI could use tools at its hand like CRR and SLR to manage the situation. Moreover RBI holds almost USD20 billion of government funds parked with it, due to a lag between raising of funds and government expenditure. The rapid consumption growth in India as reflected in GDP data will put additional pressure on industry to expand capacity. We therefore think the risk to capex story is on the upside.

In December markets will look to the European Central Bank response to the sovereign debt issues in Ireland, Portugal and Spain. Given that no one wants a crisis, these issues should get resolved even if they lead to short term volatility in markets. Flow of economic data especially retail data related to the US economy to judge the strength of the economic recovery in the world’s largest economy will be of interest. Developments in China in relation to central bank policy and inflation will continue to drive sentiment towards emerging markets. Also, domestic events like RBI’s policy review and advance tax declaration as a gauge of corporate performance before result season gets underway will be keenly watched by investors.

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Debt marketG-sec market remained subdued and the undertone was bearish with low volumes amid tight liquidity conditions. The 10 year bench mark yield traded broadly in the range of 8.00-8.10%, though it briefly touched a low of 7.97% on the back of OMO auction in the benchmark security and weak IIP numbers. The market reaction to the rate hike ( 25 basis points hike in Repo and Reverse Repo) by RBI in its 2nd November '10 policy review, was muted as the same was in line with expectation. Towards the end, the bench mark yield closed at 8.07% compared to 8.11% in previous month.

The system continued to reel under severe tightness in liquidity as demand for funds remained strong. The crunch in the systemic liquidity is largely attributed to equity sales of PSU companies which have attracted huge investor interest. Also, withdrawal of funds in the festive season and lack of government spending has further aggravated the situation. To ease the liquidity situation, RBI eased the SLR norms, by reducing the SLR by 2% till 28th January 2011. Liquidity injection through LAF window during the month averaged at Rs. 97,000 crore as against Rs. 60,000 crore in the previous month. Call rates ended the month at 6.67% while CBLO rates ended at 6.24%.

An extended tightness in liquidity exerted severe pressure on money market rates, taking the yields upward by 50-100 basis points. While the 3 month CD rates moved up by over 95 basis points to 8.65% compared to 7.70% in the previous month , the one year yield moved up by 50 basis points to 8.95%. The activity in the corporate bonds remained subdued amid tight liquidity. While the AAA 10 year bond closed the month at 8.83% at a spread of 60 bps, 5 year AAA bond closed the month at 8.65%, at a spread of 60 bps.

WPI inflation for the month of October eased a tad to 8.58% as against 8.62% in Sep'10. Inflation of manufacturing goods inched up to 4.75% as against 4.59% in the previous month. On the other hand food inflation eased to 14.3% compared to 15.71% in September. Inflation for the month of August'10 has been revised upwards to 8.82% from earlier estimate of 8.50%. Despite several rate hikes by RBI and favourable monsoons this year, WPI inflation has remained sticky at elevated levels. Recent uptrend in international commodity prices is also seen exerting upward pressure on domestic inflation.

The Index of Industrial Production for the month of September 2010 dipped to 4.4% (YoY), lower than the revised 6.9% for the month of August. Mining, Manufacturing and Electricity sectors grew at 5.2%, 4.5% and 1.7% respectively. As per User based classification sectoral growth rates are 3.5% in Basic goods, -4.2% in Capital goods, 10.3% in Intermediate goods and 5.2% in Consumer goods. The IIP for the month of August was revised upwards from 5.6% to 6.9%.

CSO estimated the GDP growth at factor cost at constant prices for Q2 FY 2010-11 at 8.9%. The best performing sectors in Q2 were 'trade, hotels, transport and communication which registered a growth rate of 12.1% and manufacturing , which grew at 9.8%. Agriculture marked a positive growth of 4.4%, industries grew at 8.9% while the services sector grew at 9.8%. Q1 GDP data was revised upwards to 8.9% from 8.8% release earlier.

Going forward, the market is expected to remain range bound due to tight liquidity conditions. However the sentiment is likely to turn positive on any likely signs of liquidity situation easing and possible softer inflation number for the month of November, which will give credence to the market's hope that the spate of rate hikes by RBI are finally coming to any end.

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TATA INFRASTRUCTURE FUND

Average Net Assets as on 30/11/2010 (` Lacs) : 2,09,842.95* Portfolio as on 30/11/2010Scrip Name % To Net

AssetsBanks 19.28ICICI Bank Ltd 4.97HDFC Bank Ltd 4.58State Bank Of India 4.26Bank Of Baroda 3.09Axis Bank Limited 1.80Andhra Bank 0.33Kotak Mahindra Bank 0.25Industrial Capital Goods 19.11Crompton Greaves Ltd 4.79Thermax Limited 3.66Bharat Heavy Electricals Ltd. 3.66Siemens India Ltd 2.86AIA Engineering Ltd 1.21Sterlite Technologies Ltd. 1.12Texmaco Rail & Engineering Ltd 0.78Bharat Bijlee Limited 0.50Texmaco Ltd. 0.43McNally Bharat Engineering Co Ltd 0.10Construction Project 10.38Larsen & Toubro Ltd. 4.52Voltas Limited 4.30GMR Infrastructure Ltd 0.80Nagarjuna Construction Co Ltd 0.76Power 8.95CESC Limited 2.42KEC International Ltd 1.77NTPC Ltd. 1.77Tata Power Company Limited 1.43GVK Power & Infrastructure Ltd 0.74Jyoti Structures Ltd. 0.74Power Grid Corporation Of India Ltd 0.08Finance 5.82Rural Electrification Corp. Ltd. 3.13HDFC Limited 2.69Petroleum Products 5.70Reliance Industries Ltd. 3.38H.P.C.L. 1.96BPCL 0.36Oil 4.70Oil & Natu. Gas Co. 4.70Telecom - Services 4.22Bharti Airtel Ltd. 3.38Tata Communications Ltd 0.84Industrial Products 3.98Cummins India Ltd 1.92Bharat Forge Ltd 1.70Greaves Limited 0.19SKF Bearings India Limited 0.17Ferrous Metals 3.57Jindal Steel & Power Ltd. 1.68Usha Martin Ltd 1.03Maharashtra Seamless Ltd. 0.86Non - Ferrous Metals 2.83Hindalco Industries Ltd 1.47Sterlite Industries (I) Ltd 1.36Gas 1.68Gail (India) Ltd. 1.68Auto 1.51Ashok Leyland 1.51Construction 1.44Simplex Infrastructures Ltd. 1.15Sadbhav Engineering Limited 0.29Cement 1.14Rain Commodities Ltd 1.14Transportation 0.63Mundra Port & Special Economic Zone 0.32Gujarat Pipavav Port Ltd 0.31Minerals/ Mining 0.26Coal India Ltd 0.26Cash, Others 4.80Total Net Assets 100.00

Fund positioning: Invests predominantly in companies with potential of creating long term value from expected investments in infrastructure oriented sectors.

Quantitative Indicators:Scheme BSE Sensex

Average P/E : 23.90 Std. Dev (Annualised) : 35.25 34.76Average P/BV : 4.72 Sharpe Ratio : -0.05 -0.02Annual Portfolio Turnover Ratio : 28.74 Portfolio Beta : 0.98 1.00

R Squared : 0.94 1.00

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales to theaverage net assets in the past one year (since inception for schemes that have not completed a year)^Risk-free rate based on the last 3 months T-Bill cut-off of 6.80%. Past Performance may or may not be sustained infuture.

SIP ReturnsInvestment Total Value of CompoundedPeriod Investment Investment as on Annualised

November 10, 2010 Return onInvestment (%)

Last 1 year 12000 13575 30.09Last 3 years 36000 50047 23.88Last 5 years 60000 93008 18.12Since Disclosure of1st NAV (20th Jan 2005) 70000 128982 21.04

Past performance may or may not sustained in future. Dividend assumed to bereinvested. Benchmark Returns through SIP route: BSE Sensex Last 1 year 38.10%,last 3 years 26.36%, last 5 years 17.61%, Since Inception 19.42%. Investment of` 1,000 p.m. is assumed to be made on 10th of every month, if not then the nextbusiness day.

SnapshotFund Manager : M Venugopal (Equity)

Indicative investment horizon: 5 years and above

Inception Date : December 31, 2004

Average AUM (` lacs) : 2,09,842.95*

NAV (as on 30/11/2010)

Dividend : ` 23.58

Growth : ` 35.80

52 week High (G) : ` 39.08 (06-Oct-2010)

52 week Low (G) : ` 30.61 (25-May-2010)

Expense Ratio: : 2.50%

(Please refer to page no. 12/13 for AdditionalInformation & page no. 14 for dividend history)

Figures as on 30/11/2010

* For the period 1st September 2010 to 30th November 2010

Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option.

` 100000 invested at inception: Tata Infrastructure Fund Vs BSE Sensex

Tata Infrastructure Fund BSE Sensex` 357993 ` 295656

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Performance Record - Growth Option

Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Returns <1 yr absolute. Returns > 1 yr CAGR.

Tata Infrastructure Fund - Growth BSE Sensex

-4.87

20.2624.05

15.21 15.33

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17.2920.10

10.44 11.24

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Source: www.mutualfundsindia.com

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TATA EQUITY P/E FUND

Average Net Assets as on 30/11/2010 (` Lacs) : 72,198.84* Portfolio as on 30/11/2010Scrip Name % To Net

AssetsSoftware 13.25Polaris Software Labs Ltd. 4.10Firstsource Solutions Limited 1.72Patni Computer Systems Ltd. 1.68Mphasis Ltd. 1.52Infosys Technologies Ltd. 1.06HCL Technologies Ltd 0.98Eclerx Services Limited 0.96NIIT Technologies Ltd. 0.64Persistent Systems Limited 0.59Banks 12.39Axis Bank Limited 2.85State Bank Of India 1.46Punjab National Bank 1.27Federal Bank Ltd . 1.23Oriental Bank Of Commerce 1.18Bank Of Baroda 1.11United Bank Of India 1.10Kotak Mahindra Bank 0.91Standard Chartered Plc 0.90Karur Vysya Bank Ltd 0.38Auto 8.97Mahindra & Mahindra Ltd. 6.18Tata Motors Limited 1.20Maruti Suzuki India Ltd. 1.09Hero Honda Motors Ltd 0.50Consumer Non Durable 7.74Balrampur Chini Mills Ltd. 3.17Hindustan Unilever Ltd 1.91Glaxo Smithkline Beechem Con Health 1.65ITC Ltd 1.01Non - Ferrous Metals 7.74Hindalco Industries Ltd 6.30Hindustan Zinc Limited 1.44Pharmaceuticals 5.69Cadilla Healthcare Limited 3.02Lupin Ltd 1.95Unichem Laboratories Ltd. 0.72Petroleum Products 5.39H.P.C.L. 2.06Reliance Industries Ltd. 1.92BPCL 1.41Oil 4.82Oil & Natu. Gas Co. 3.56Oil India Ltd 1.26Cement 3.79Grasim Industries Ltd. 2.37Shree Cement Limited 0.86Birla Corporation Limited 0.56Minerals/ Mining 3.06Nava Bharat Ventures Ltd 1.27Gujarat Mineral Dev Corp Ltd. 1.12Coal India Ltd 0.67Fertilizers 2.79Tata Chemicals Ltd 2.79Auto Ancillaries 2.69Exide Industries Ltd 1.79Amara Raja Batteries Ltd 0.90Telecom - Services 2.68Bharti Airtel Ltd. 2.68Gas 2.36Gail (India) Ltd. 1.36Gujarat Gas Company Ltd 1.00Construction Project 2.35Voltas Limited 2.35Finance 1.99Motilal Oswal Financial Serv. Ltd 1.01India Infoline Ltd 0.98Power 1.83Power Grid Corporation Of India Ltd 1.00SJVN Limited 0.83Transportation 1.23Gujarat Pipavav Port Ltd 1.23Industrial Products 1.11Cummins India Ltd 1.11Construction 0.84Consolidated Const. Consortium Ltd 0.84Ferrous Metals 0.73Ratnamani Metals & Tubes Ltd 0.73Media & Entertainment 0.60TV Today Network Limited 0.60Industrial Capital Goods 0.58Sterlite Technologies Ltd. 0.58Telecom - Equipment & Accessories 0.46HCL Infosystems Ltd. 0.46Cash, Others 4.92Total Net Assets 100.00

Fund positioning: Invests atleast 70% of its net assets in stocks with rolling P/E ratios less than that of the BSE Sensex.


Average P/E : 18.07 Std. Dev (Annualised) : 33.87 34.76Average P/BV : 4.27 Sharpe Ratio : 0.03 -0.02Annual Portfolio Turnover Ratio : 37.44 Portfolio Beta : 0.91 1.00

R Squared : 0.88 1.00





Last 1 year 12000 13837 35.36Last 3 years 36000 58132 35.64Last 5 years 60000 110458 25.43Since Disclosure of1st NAV (30th June 2004) 77000 178512 26.34

Past performance may or may not sustained in future. Dividend assumed to bereinvested. Benchmark Returns through SIP route: BSE Sensex Last 1 year 38.10%,last 3 years 26.36%, last 5 years 17.61% and Since Inception 20.53%. Investment of` 1,000 p.m. is assumed to be made on 10th of every month, if not then the nextbusiness day

SnapshotFund Manager : Sachin Relekar (Equity)


Inception Date : June 29, 2004

Average AUM (` lacs) : 72,198.84*

NAV (as on 30/11/2010)

Growth : ` 49.07

Dividend Opt. A (5%) : ` 38.78

Dividend Opt. B(10%) : ` 38.62

52 week High (G) : ` 53.09 (10-Nov-2010)

52 week Low (G) : ` 41.37 (25-Feb-2010)

Expense Ratio: : 2.50% (Please refer to page no. 12/13 for AdditionalInformation & page no. 14 for dividend history)



Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option.

` 100000 invested at inception: Tata Equity P/E Fund Vs BSE Sensex

Tata Equity P/E Fund BSE Sensex

` 490729 ` 403217

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Tata Equity P/E Fund - Growth BSE Sensex

5.74

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TATA PURE EQUITY FUND


AssetsBanks 14.14HDFC Bank Ltd 3.57ICICI Bank Ltd 3.25State Bank Of India 2.47Central Bank Of India 1.20Punjab National Bank 1.14ING Vysya Bank 0.95Axis Bank Limited 0.83Allahabad Bank 0.73Auto 11.50Tata Motors Limited 3.89Bajaj Auto Limited 3.22Mahindra & Mahindra Ltd. 2.96Ashok Leyland 1.43Pharmaceuticals 8.06Lupin Ltd 3.90Cadilla Healthcare Limited 3.77Cipla Ltd 0.39Consumer Non Durable 6.93ITC Ltd 2.17Nestle India Ltd. 1.86P & G Hygiene & Health Care Ltd. 1.05Asian Paints (India) Ltd. 1.00Bata India Ltd 0.85Construction Project 6.60Voltas Limited 2.93Larsen & Toubro Ltd. 2.91Nagarjuna Construction Co Ltd 0.76Software 6.50Infosys Technologies Ltd. 3.10Mphasis Ltd. 2.14Oracle Financials Services Software 1.25Zee Learn Ltd 0.01Petroleum Products 5.93Reliance Industries Ltd. 3.55H.P.C.L. 1.56BPCL 0.82Industrial Capital Goods 5.49Crompton Greaves Ltd 3.00Bharat Heavy Electricals Ltd. 1.87Sterlite Technologies Ltd. 0.62Finance 5.37HDFC Limited 2.82Rural Electrification Corp. Ltd. 2.05India Infoline Ltd 0.50Fertilizers 3.60Chambal Fertilizer & Chemicals Ltd. 3.15Rashtriya Chemicals & Fert Ltd. 0.45Oil 3.21Oil & Natu. Gas Co. 3.21Telecom - Services 2.81Bharti Airtel Ltd. 2.81Non - Ferrous Metals 2.42Hindalco Industries Ltd 2.42Auto Ancillaries 2.29Bosch Ltd 1.34Wabco-TVS (India) Ltd 0.95Power 2.17KEC International Ltd 1.61Jyoti Structures Ltd. 0.56Industrial Products 1.97SKF Bearings India Limited 1.97Transportation 1.80Jet Airways Limited 1.32Cox & Kings Ltd 0.48Media & Entertainment 1.59Sun Tv Network Ltd. 1.59Gas 1.24Gujarat Gas Company Ltd 1.24Retailing 1.19Pantaloon Retail (India) Ltd. 1.13Agre Developers Ltd 0.06Minerals/ Mining 0.76Coal India Ltd 0.76Consumer Durables 0.65Whirlpool Of India Ltd 0.65Cash, Others 3.78Total Net Assets 100.00

Fund positioning: Focus on long term investment in fundamentally undervalued large cap companies through a process of rigorous research.



Last 1 year 12000 14112 40.96Last 3 years 36000 55661 32.16Last 5 years 60000 102530 22.25Since Disclosure of1st NAV May 7, 1998 150000 1076265 28.71

Past performance may or may not sustained in future. Dividend assumed to bereinvested. Benchmark Returns through SIP route: BSE Sensex Last 1 year 38.10%,last 3 years 26.36% and last 5 years 17.61%, Since Inception 19.40%. Investment of` 1,000 p.m. is assumed to be made on 10th of every month, if not then the nextbusiness day



R Squared : 0.93 1.00





Inception Date : May 7, 1998


NAV (as on 30/11/2010)

Dividend : ` 39.65

Growth : ` 105.40

52 week High (G) : ` 112.59 (09-Nov-2010)

52 week Low (G) : ` 84.59 (05-Feb-2010)

Expense Ratio: : 2.50%(Please refer to page no. 12/13 for AdditionalInformation & page no. 14 for dividend history)



Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dividendsassumed to be reinvested. While calculating returns dividend distribution tax is excluded.

` 100000 invested at inception: Tata Pure Equity Fund Vs BSE Sensex

Tata Pure Equity Fund BSE Sensex` 2311851 ` 479662

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Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dividendsassumed to be reinvested. While calculating returns dividend distribution tax is excluded. Returns < 1 yr absolute.Returns > 1 yr CAGR.

Tata Pure Equity Fund BSE Sensex

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TATA DIVIDEND YIELD FUND


AssetsConsumer Non Durable 23.41Glaxo Smithkline Beechem Con Health 6.44Hindustan Unilever Ltd 5.92Navneet Publications India Limited 4.68Nestle India Ltd. 4.06ITC Ltd 1.45Balrampur Chini Mills Ltd. 0.86Software 11.71Patni Computer Systems Ltd. 2.37Infosys Technologies Ltd. 1.90NIIT Technologies Ltd. 1.71Firstsource Solutions Limited 1.69Polaris Software Labs Ltd. 1.67Tata Elxsi India Ltd 1.51Mphasis Ltd. 0.86Banks 7.76ICICI Bank Ltd 2.27Central Bank Of India 1.78State Bank Of India 1.69Kotak Mahindra Bank 1.02Federal Bank Ltd. 1.00Fertilizers 7.56Deepak Fert.& Petrochem. Corp Ltd 3.88Tata Chemicals Ltd 2.13Chambal Fertilizer & Chemicals Ltd. 1.55Finance 7.50Crisil 6.28India Infoline Ltd 1.22Petroleum Products 5.68Castrol India Ltd 3.77BPCL 1.91Auto 3.51Ashok Leyland 1.83Hero Honda Motors Ltd 1.68Non - Ferrous Metals 3.50Hindalco Industries Ltd 3.50Media & Entertainment 3.41Sun TV Network Ltd. 3.41Oil 2.83Oil & Natu. Gas Co. 2.83Minerals/ Mining 2.78Coal India Ltd 2.78Paper 2.59Tamilnadu Newsprint And Papers Ltd 2.59Gas 2.50Gail (India) Ltd. 2.50Trading 2.173M India Ltd 2.17Industrial Capital Goods 2.10Thermax Limited 2.10Chemicals 1.98Clariant Chemical 1.98Pharmaceuticals 1.81Glaxo Smithkline Pharma 1.81Telecom - Equipment & Accessories 1.72HCL Infosystems Ltd. 1.72Industrial Products 1.63Kirloskar Pneumatic Company Ltd 0.93Greaves Limited 0.70Cash, Others 3.85Total Net Assets 100.00

Fund positioning: An open ended equity fund that aims to invest at least 70% of its assets in shares with high dividend yields.



Last 1 year 12000 14614 51.40Last 3 years 36000 62058 40.96Last 5 years 60000 113631 26.65Since Disclosure of1st NAV (22nd Nov. 2004) 72000 153670 25.43


SnapshotFund Manager : Sachin Relekar (Equity)


Inception Date : November 22, 2004


NAV (as on 30/11/2010)

Dividend : ` 22.00

Growth : ` 33.96

52 week High (G) : ` 36.97 (09-Nov-2010)

52 week Low (G) : ` 25.79 (21-Dec-2009)

Expense Ratio: : 2.50% (Please refer to page no. 12/13 for AdditionalInformation & page no. 14 for dividend history)



Quantitative Indicators:

Scheme BSE SensexAverage P/E : 22.88 Dividend Yield (%) : 2.10 1.09Average P/BV : 9.57 Std. Dev (Annualised) : 33.13 34.76Annual Portfolio Turnover Ratio : 24.93 Sharpe Ratio : 0.07 -0.02

Portfolio Beta : 0.87 1.00R Squared : 0.83 1.00

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales to theaverage net assets in the past one year (since inception for schemes that have not completed a year)^Risk-free rate based on the last 3 months T-Bill cut-off of 6.80%. Past Performance may or may not be sustained infuture.Source: www.mutualfundsindia.com


Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dividendsassumed to be reinvested. While calculating returns dividend distribution tax is excluded. Returns < 1 yr absolute.Returns > 1 yr CAGR.

Tata Dividend Yield Fund - Growth BSE Sensex

8.21

18.8522.50

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` 100000 invested at inception: Tata Dividend Yield Fund Vs BSE Sensex

Tata Dividend Yield Fund BSE Sensex` 339637 ` 327329

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TATA EQUITY OPPORTUNITIES FUND

Portfolio as on 30/11/2010Scrip Name % To Net

AssetsBanks 14.20ICICI Bank Ltd 4.14Allahabad Bank 1.82Development Credit Bank Ltd. 1.79HDFC Bank Ltd 1.74State Bank Of India 1.52Central Bank Of India 1.50Kotak Mahindra Bank 1.20Andhra Bank 0.49Auto 13.63Tata Motors Limited 4.13Mahindra & Mahindra Ltd. 3.88TVS Motor Company Ltd. 3.63Bajaj Auto Limited 1.99Pharmaceuticals 9.76Lupin Ltd 3.65Opto Circuits (India) Ltd 1.63Cipla Ltd 1.52Cadilla Healthcare Limited 1.49Divi Laboratories Ltd. 1.47Software 8.54Polaris Software Labs Ltd. 2.54Infosys Technologies Ltd. 2.26Oracle Financials Services Software 1.71Firstsource Solutions Limited 0.97Hinduja Global Solutions Limited 0.62Infotech Enterprises Limited 0.43Zee Learn Ltd 0.01Consumer Non Durable 5.94Nestle India Ltd. 2.06Radico Khaitan Ltd 1.67Balrampur Chini Mills Ltd. 1.15Hindustan Unilever Ltd 1.06Construction 5.42Sadbhav Engineering Limited 3.26Consolidated Const. Consortium Ltd 2.16Finance 4.91Motilal Oswal Financial Serv. Ltd 1.35Shriram Trans. Fin. Corp. Ltd 1.23Rural Electrification Corp. Ltd. 1.20HDFC Limited 1.13Pesticides 3.78Rallis India Limited 3.06United Phosphorus Ltd. 0.72Auto Ancillaries 3.74Exide Industries Ltd 2.55Motherson Sumi Systems Ltd 1.19Non - Ferrous Metals 3.13Hindalco Industries Ltd 3.13Construction Project 3.11Larsen & Toubro Ltd. 3.11Oil 2.99Oil & Natu. Gas Co. 2.99Media & Entertainment 2.88Sun TV Network Ltd. 2.88Retailing 2.64Pantaloon Retail (India) Ltd. 2.53Agre Developers Ltd 0.11Industrial Capital Goods 2.12Sterlite Technologies Ltd. 1.41Bharat Bijlee Limited 0.71Fertilizers 1.78Deepak Fert.& Petrochem. Corp Ltd 1.02Chambal Fertilizer & Chemicals Ltd. 0.76Petroleum Products 1.75Reliance Industries Ltd. 1.75Telecom - Services 1.64Bharti Airtel Ltd. 1.64Power 1.60KEC International Ltd 1.43Power Grid Corporation Of India Ltd 0.17Minerals/ Mining 1.46Nava Bharat Ventures Ltd 1.46Consumer Durables 1.17Whirlpool Of India Ltd 1.17Industrial Products 1.13Jain Irrigation Systems Ltd. 1.13Paper 0.96Tamilnadu Newsprint And Papers Ltd 0.96Cash, Others 1.72Total Net Assets 100.00

Fund positioning: Focus on capitalising on opportunities offered by equity markets from time to time with a proactive fund management strategy.


Average P/E : 26.36 Std. Dev (Annualised) : 35.10 34.76Average P/BV : 6.19 Sharpe Ratio : -0.03 -0.02Annual Portfolio Turnover Ratio : 115.83 Portfolio Beta : 0.95 1.00

R Squared : 0.88 1.00





Last 1 year 12000 13512 28.82Last 3 years 36000 52917 28.19Last 5 years 60000 92930 18.08Since Disclosure of1st NAV 25th Feb 1993 213000 1286572 24.29




Tata Equity Opportunities Fund - Growth BSE Sensex

-3.15

16.35

12.7615.21 15.33

0.27

17.29

11.5510.04

13.47

-5

0

5

10

15

20


Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dataprovided after takeover by Tata Asset Management Limited from Indian Bank Mutual Fund in the year 2001.

` 100000 invested at inception: Tata Equity Opportunities Fund Vs BSE Sensex

Tata Equity Opportunities Fund BSE Sensex` 845600 ` 697349

0

200000

400000

600000

800000

1000000

1200000

Nov-

03

May

-04

Nov-

04

May

-05

Nov-

05

May

-06

Nov-

06

May

-07

Nov-

07

May

-08

Nov-

08

May

-09

Nov-

09

May

-10

Nov-

10

Average Net Assets as on 30/11/2010 (` Lacs) : 43,004.39*



Inception Date : February 25, 1993


NAV (as on 30/11/2010)

Dividend : ` 22.17

Growth : ` 84.56

52 week High (G) : ` 91.58 (10-Nov-2010)

52 week Low (G) : ` 73.27 (25-May-2010)

Expense Ratio: : 2.50%(Please refer to page no. 12/13 for AdditionalInformation & page no. 14 for dividend history)



7

TATA BALANCED FUND

Equity Portfolio as on 30/11/2010Scrip Name % To Net

AssetsBanks 13.01ICICI Bank Ltd 4.27State Bank Of India 3.15HDFC Bank Ltd 2.80Central Bank Of India 1.12Bank Of Baroda 0.73Andhra Bank 0.54Development Credit Bank Ltd. 0.40Pharmaceuticals 8.18Cadilla Healthcare Limited 2.98Lupin Ltd 2.90Opto Circuits (India) Ltd 1.43Cipla Ltd 0.87Auto 8.13Mahindra & Mahindra Ltd. 4.03Tata Motors Limited 3.33Escorts Ltd 0.77Construction Project 5.27Larsen & Toubro Ltd. 3.10Voltas Limited 2.17Consumer Non Durable 4.94Hindustan Unilever Ltd 1.51Nestle India Ltd. 1.40TTK Prestige Ltd 1.24Titan Industries Limited 0.63Radico Khaitan Ltd 0.16Software 4.36Oracle Financials Services Software 1.52Polaris Software Labs Ltd. 1.47Infosys Technologies Ltd. 1.24Infotech Enterprises Limited 0.13Zee Learn Ltd 0.00Industrial Capital Goods 4.32Crompton Greaves Ltd 2.75Sterlite Technologies Ltd. 0.83Bharat Bijlee Limited 0.74Power 3.31KEC International Ltd 1.23CESC Limited 1.11Power Grid Corporation Of India Ltd 0.97Oil 2.79Oil & Natu. Gas Co. 2.79Industrial Products 2.42Fag Bearings (I) Ltd. 1.57SKF Bearings India Limited 0.85Finance 2.28Rural Electrification Corp. Ltd. 1.46GIC Housing Finance Ltd. 0.82Media & Entertainment 2.23Sun TV Network Ltd. 2.23Minerals/ Mining 2.23Coal India Ltd 1.79Nava Bharat Ventures Ltd 0.44Petroleum Products 1.81Reliance Industries Ltd. 1.81Fertilizers 1.58Chambal Fertilizer & Chemicals Ltd. 1.24Rashtriya Chemicals & Fert Ltd. 0.34Non - Ferrous Metals 1.57Hindalco Industries Ltd 1.57Retailing 1.53Pantaloon Retail (India) Ltd. 1.46Agre Developers Ltd 0.07Pesticides 1.34Rallis India Limited 1.34Telecom - Services 1.22Bharti Airtel Ltd. 1.22Chemicals 1.10Clariant Chemical 1.10Auto Ancillaries 0.48Motherson Sumi Systems Ltd 0.48Total Equity 74.10

Debt Portfolio as on 30/11/2010Scrip Name Rating % To Net

AssetsIDBI Bank Ltd. A1+ 6.53Union Bank Of India A1+ 5.07Sundaram Fin Ltd LAA+ 1.70Bajaj Finance Ltd LAA+ 1.67Total Debt 14.97Cash, Others 10.93Total Net Assets 100.00

Fund positioning: With 65-75% investment in equities and the rest in debt, the fund is ideal for investors who have some appetite for equity but are hesitant to invest 100% in equities.

Quantitative Indicators:Scheme Crisil BFI


R Squared : 0.91 1.00

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales to theaverage net assets in the past one year (since inception for schemes that have not completed a year)^Risk-free rate based on the last 3 months T-Bill cut-off of 6.80%. Past Performance may or may not be sustained in future.




Last 1 year 12000 13640 31.38Last 3 years 36000 53504 29.05Last 5 years 60000 99073 20.79Since Disclosure of1st NAV January 5, 1996 179000 1041470 21.30

Past performance may or may not sustained in future. Dividend assumed to be reinvested.Benchmark Returns through SIP route: Crisil Balanced Fund Index Last 1 year 26.30%, last3 years 19.61% and last 5 years 14.78% , Since Inception N.A. Investment of ̀ 1,000 p.m.is assumed to be made on 10th of every month, if not then the next business day


Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dividendsassumed to be reinvested. While calculating returns dividend distribution tax is excluded. Returns < 1 yr absolute.Returns > 1 yr CAGR. N.A.: No figures are available for other periods.

5.42

19.3217.53

N.A.3.93

13.8510.56

12.5011.99

16.83

0

5

10

15

20

25


Tata Balanced Fund CRISIL Balanced Fund Index




Inception Date : October 08, 1995


NAV (as on 30/11/2010)

Dividend : ` 53.56

Monthly Dividend : ` 51.87

Growth : ` 84.92

52 week High (G) : ` 89.39 (10-Nov-2010)

52 week Low (G) : ` 71.17 (05-Feb-2010)

Expense Ratio: : 2.50%

(Please refer to page no. 12/13 for Additional Information & page no. 14 for dividend history)


Equity Debt


Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dividendsassumed to be reinvested. While calculating returns dividend distribution tax is excluded. Starting date taken as 1st April2002 as benchmark data is unavailable before this period.

` 100000 invested on 1st April 2002: Tata Balanced Fund Vs Crisil Balanced Fund Index

Tata Balanced Fund Crisil Balanced Fund Index` 677480 ` 357807

100000

280000

460000

640000

820000

1000000

Mar

-02

Sep-

02

Mar

-03

Sep-

03

Mar

-04

Sep-

04

Mar

-05

Sep-

05

Mar

-06

Sep-

06

Mar

-07

Sep-

07

Mar

-08

Sep-

08

Mar

-09

Sep-

09

Mar

-10

Sep-

10

8

Equity Portfolio as on 30/11/2010

Scrip Name % To Net

AssetsBanks 3.73ICICI Bank Ltd 1.91Central Bank Of India 0.81State Bank Of India 0.67ING Vysya Bank 0.34Software 3.34Infosys Technologies Ltd. 1.19Infotech Enterprises Limited 1.03Polaris Software Labs Ltd. 0.62NIIT Technologies Ltd. 0.50Finance 1.77HDFC Limited 1.77Non - Ferrous Metals 1.76Hindalco Industries Ltd 1.76Fertilizers 1.50Chambal Fertilizer & Chemicals Ltd. 0.99Rashtriya Chemicals & Fert Ltd. 0.51Petroleum Products 1.34Reliance Industries Ltd. 0.88H.P.C.L. 0.46Industrial Capital Goods 1.02Sterlite Technologies Ltd. 0.55McNally Bharat Engineering Co Ltd 0.47Power 0.90Power Grid Corporation Of India Ltd 0.90Pharmaceuticals 0.89Cadilla Healthcare Limited 0.60Cipla Ltd 0.29Chemicals 0.83Clariant Chemical 0.83Consumer Non Durable 0.83Hindustan Unilever Ltd 0.83Consumer Durables 0.78Whirlpool Of India Ltd 0.78Oil 0.77Oil & Natu. Gas Co. 0.77Auto 0.51Tata Motors Limited 0.51Construction Project 0.23Nagarjuna Construction Co Ltd 0.23Total Equity 20.20

Debt Portfolio as on 30/11/2010

Scrip Name Rating % To Net

Assets

CP/CD 5.46ICICI Bank Ltd A1+ 2.73Blue Star Limited PR1+ 2.73NCD/FRN 47.06Sundaram Fin Ltd LAA+ 13.99HDFC Limited AAA 8.31Steel Authority Of India Ltd. AAA 4.71LIC Housing Finance Ltd AAA 9.35Power Finance Corporation AAA 2.96Indian Railway Finance Corp AAA 2.76Reliance Industries Ltd. AAA 4.98ZCB 5.64HDFC Limited AAA 5.64Total Debt 58.16Cash, Others 21.64Total Net Assets 100.00

Fund positioning: An open ended Income fund which seeks to generate returns through investments in high quality debt and equity (up to 20%) (Monthly Income is notassured and is subject to availability of distributable surplus.)

Quantitative Indicators:Scheme Benchmark Scheme Benchmark

Std. Dev (Annualised) : 7.86 6.60 Sharpe Ratio : -0.05 -0.05

Portfolio Beta : 1.10 1.00 R Squared : 0.85 1.00

^Risk-free rate based on the last 3 months T-Bill cut-off of 6.80%. Past Performance may or may not be sustained infuture.


Maturity Profile:

Average Maturity : 2.19 Years

Gross Yield to Maturity (For Debt Component) : 8.46%


Fund manager comment :

The interest rates, both short term as well as long term, are at high

levels due to tight liquidity conditions and spate of rate hikes by RBI.

However, given the likely trajectory of inflation, which is expected to

trend lower going forward and the fact that the government borrowings

are nearing completion, we expect interest rates to come down in the

medium term. The economy continues to perform well, as evidenced

by the 8.9% growth for the second Quarter of FY11 which is better

than market expectation of 8.3%. This augurs well for equity market.

Thus, in a scenario of good economic growth and stable/falling interest

rates, hybrid funds are expected to do well.

TATA MIP PLUS FUND

SnapshotFund Manager : Raju Sharma (Debt) & M Venugopal (Equity)


Inception Date : March 19, 2004


NAV (as on 30/11/2010)

Growth : ` 15.8534

Monthly Dividend : ` 11.3022

Quarterly Dividend: ` 11.3409

52 week High (G) : ` 16.1065 (09-Nov-2010)

52 week Low (G) : ` 14.7203 (21-Dec-2009)

Expense Ratio : 2.00%(Please refer to page no. 12/13 for AdditionalInformation & page no. 14 for dividend history)


Equity Debt


Maturity Profile

37.32%

8.31%

11.10%

19.30%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Below 6 Months

Between 6 To 12 Months

Between 1 To 3 Years

Above 3 Year


Past Performance of the Scheme may or may not be sustained in future. Returns are given for growth option. Dividendsassumed to be reinvested. While calculating returns dividend distribution tax is excluded. Returns < 1 yr absolute.Returns > 1 yr CAGR. N.A.: No figures are available for other periods.

5.39

7.34 7.11

3.90

6.42 5.97

7.87 7.39

2.99

7.18

0

2

4

6

8

10


Tata Mip Plus Fund CRISIL MIP Blended Index

9

TATA LIQUID FUND

Average Net Assets as on 30/11/2010 (` Lacs) : 3,99,617.23*

Fund positioning: To generate steady income through investments in short dated papers and maintain high liquidity of the portfolio.


Scrip Name Rating % to NAV Asset

CP/CD 84.08

Punjab National Bank PR1+ 12.02

ICICI Bank Ltd A1+ 9.24

Dena Bank P1+ 6.61

State Bank Of Travancore P1+ 5.26

Canara Bank A1+ 4.64

State Bank Of Bikaner & Jaipur P1+ 4.61

UCO Bank P1+ 3.95

State Bank Of India P1+ 3.30

Vijaya Bank PR1+ 3.29

Bank Of Maharashtra P1+ 3.16

Bank Of India P1+ 2.61

Central Bank Of India PR1+ 2.03

Punjab National Bank A1+ 1.99

Indusind Bank Ltd P1+ 1.99

Bank Of Baroda A1+ 1.98

State Bank Of Travancore PR1+ 1.85

Allahabad Bank A1+ 1.32

Karur Vysya Bank Ltd A1+ 1.32

Indusind Bank Ltd A1+ 1.32

UCO Bank PR1+ 1.32

Corporation Bank P1+ 1.31

Punjab & Sind Bank A1+ 0.79

Allahabad Bank P1+ 0.66

HDFC Bank Ltd PR1+ 0.66

Yes Bank Ltd. A1+ 0.66

Axis Bank Limited P1+ 0.66

Century Textiles & Industries Ltd. PR1+ 0.13

Blue Star Limited PR1+ 0.66

Marico Industries Ltd. P1+ 0.79

Infina Finance Pvt Ltd. P1+ 2.63

GIC Housing Finance Ltd. A1+ 1.32

Cash, Others 15.92

Total Net Assets 100.00

Quantitative Indicators: (HIP - Growth)

Scheme Benchmark Scheme Benchmark

Std. Dev (Annualised) : 0.58 0.73 R Squared : 0.71 1.00

Portfolio Beta : 0.66 1.00

^Risk-free rate based on the last 3 months T-Bill cut-off of 6.80%. Past Performance may or may not be sustained in future.


Maturity Profile:Average Maturity : 0.87 Months


SnapshotFund Manager : Raju Sharma (Debt)

Indicative investment horizon: Upto 1 month

Inception Date : RIP - August 30, 1998,HIP - February 26, 2003,SHIP - May 22, 2003


NAV (as on 30/11/2010)

RIP - Growth : ` 2187.1487

RIP - Dividend (Fortnightly) : ` 1144.9739

HIP - Growth : ` 1582.3588

SHIP - Growth : ` 1763.6943

52 week High(RIP-G) : ` 1582.36 (30-Nov-2010)

52 week Low(RIP-G) : ` 1509.15 (01-Dec-2009)

Expense Ratio (HIP) : 0.55% (Please refer to page no. 12/13 for AdditionalInformation)


Fund manager comment :

Liquidity has generally remained tight throughout the month. This has resulted in higher short term moneymarket rates not seen in the past. These elevated levels offer good investment opportunity to the investors.We are looking to invest at the current levels and also to add on up ticks.


Past Performance may or may not be sustained in future. Returns < 1 yr absolute. Returns > 1 yr CAGR.

2.80

4.86

6.33 6.686.09

0.581.56

2.91

4.71

6.12 6.325.63

0.53

1.54

0

2

4

6

8

1 Months 3 Months 6 Months 1 Year 3 Years 5 Years Since Inception

Tata Liquid Fund (HIP) CRISIL Liquid Fund Index

Maturity Profile

100%

0.00%

0.00%

0.00%

0% 20% 40% 60% 80% 100% 120%

Below 3 Months



Above 1 Year


10

TATA FLOATER FUND

Fund positioning: An open ended debt scheme investing in good quality floating rate debt instruments, money market instruments and in fixed rate debt instruments, which canalso be swapped for floating Rate Returns.

Maturity Profile:

Average Maturity : 1.35 Months



Scrip Name Rating % to NAV

CP/CD 93.50


Canara Bank A1+ 8.26

Punjab National Bank PR1+ 6.70

Axis Bank Limited P1+ 4.89

Central Bank Of India PR1+ 4.44

UCO Bank P1+ 3.47

UCO Bank PR1+ 3.02

Corporation Bank P1+ 3.00

Punjab & Sind Bank A1+ 2.99

Corporation Bank A1+ 2.48

Oriental Bank Of Commerce P1+ 2.32

Bank Of Baroda A1+ 2.26

State Bank Of Bikaner & Jaipur P1+ 1.87

Bank Of Maharashtra P1+ 1.57

United Bank Of India PR1+ 1.50

Allahabad Bank A1+ 1.49

Karnataka Bank Ltd PR1+ 1.48

ING Vysya Bank P1+ 1.48

HDFC Bank Ltd PR1+ 1.48

Indusind Bank Ltd P1+ 1.13

Indusind Bank Ltd A1+ 1.13

State Bank Of Travancore P1+ 0.76

Canara Bank P1+ 0.68

Syndicate Bank PR1+ 0.38

United Bank Of India A1+ 0.38

Axis Bank Limited A1+ 0.38

IDBI Bank Ltd. A1+ 0.37


Apollo Tyres Ltd P1+ 0.38

Small Indust Devlop Bank Of India PR1+ 3.01

Century Textiles & Industries Ltd. PR1+ 0.75

Ericsson India Pvt Ltd A1+ 1.13

Blue Star Limited PR1+ 1.11

Dabur India Ltd P1+ 2.27

Jindal Steel & Power Ltd. A1+ 0.75

HDFC Limited A1+ 1.51

Edelweiss Capital Ltd P1+ 1.51

L & T Finance Ltd PR1+ 1.50

IL&FS Ltd A1+ 1.49

ICICI Securities Ltd P1+ 0.76

IDBI Homefinance Ltd A1+ 0.76

Morgan Stanley India Cap Pvt Ltd F1+ 0.75

Aditya Birla Finance Ltd A1+ 0.37

Investmart Financial Services Ltd F1+ 0.37

Indian Oil Corp Ltd. P1+ 5.30

Reliance Industries Ltd. P1+ 0.38

NCD/FRN 1.51

Union Bank Of India AAA 0.75

Sundaram Fin Ltd LAA+ 0.76

ICICI Bank Ltd AAA 0.00

Securitised Debt 0.01

Indian Retail Abs Trust 83 LAAA 0.01

Government Securities 0.75

T Bill SOV 0.75

Cash, Others 4.23


Quantitative Indicators:Scheme Benchmark Scheme Benchmark

Std. Dev (Annualised) : 0.54 0.73 R Squared : 0.74 1.00

Portfolio Beta : 0.64 1.00

^Risk-free rate based on the last 3 months T-Bill cut-off of 6.80%. Past Performance may or may not be sustained in future.


Average Net Assets as on 30/11/2010 (` Lacs) : 6,75,365.60*

Fund manager comment :Liquidity has generally remained tight throughout the month resulting in higher short term moneymarket rates. This tight liquidity situation is expected to remain for some time in view of advance taxpayments, investment cycle demand and credit off take and strong pipeline of IPOs expected to hitthe market in next few months. To ease the liquidity situation, RBI has temporarily eased the SLRnorms, by reducing the SLR by 2% till 28th January 2011. The extended tightness in the liquiditysituation has distor ted the shor t term interest rate curve and offers very attractive investmentopportunity in the short end. We have positioned our funds accordingly, to profit from the prevailinghigh rates, as major portion of our funds are getting re-priced at the current high levels.



Tata Floater Fund Crisil Liquid Fund Index

Since Inception

3.06

5.50

6.99 7.10 7.03

0.581.56

2.91

4.71

6.12 6.32 6.24

0.561.65

0

2

4

6

8

1 Months 3 Months 6 Months 1 Year 3 Years 5 Years

Maturity Profile

98.54%

0.00%

0.76%

0.00%

0% 20% 40% 60% 80% 100% 120%

Below 6 Months


Between 1 To 3 Years

Above 3 Year

SnapshotFund Manager : Raju Sharma (Debt)

Indicative investment horizon: 3 months and above

Inception Date : September 06, 2005


NAV (as on 30/11/2010)

Dividend Daily : ` 10.0356

Dividend Weekly : ` 10.0807

Growth : ` 14.2696

52 week High (G) : ` 14.2696 (30-Nov-2010)

52 week Low (G) : ` 13.5279 (01-Dec-2009)

Expense Ratio: : 0.20% (Please refer to page no. 12/13 for AdditionalInformation)



11


TATA SHORT TERM BOND FUND


Figures as on 30/11/2010* For the period 1st September 2010 to 30th November 2010

Inception Date : Augsut 08, 2002

Rating Profile: % Net Assets

AAA/AAA SO/A1+/P1+/F1+/SOV 79.16

Cash, Others 20.84

TOTAL 100.00

Asset Allocation: % Net Assets

DEBT 79.16

Cash, Others 20.84


Maturity Profile:

Average Maturity : 8.28 Months

Performance:Since Inception Last 6 Months Last 1 year Last 3 year Last 5 years

TSTBF 7.12% 2.28% 4.40% 7.54% 7.67%Crisil STBF 6.01% 2.09% 4.51% 7.04% 6.72%



CP / CD 57.96



Canara Bank P1+ 0.95Religare Finvest Limited A1+ 19.44

NCD 21.20

ONGC Videsh Ltd AAA 3.88Power Grid Corporation Of India Ltd AAA 5.84

Tata Communications Ltd AAA 11.48

Cash, Others 20.84


TATA GILT SHORT MATURITY FUND



Inception Date : April 03, 2003


Cash, Others 3.47

SOV 96.53

TOTAL 100.00


DEBT 23.44GOI 73.09Cash, Others 3.47Total Net Assets 100.00

Maturity Profile:



Tata Gilt Short Maturity 5.59% 1.34% 3.27% 6.23% 5.95%I Sec Composite 6.54% 1.53% 4.71% 7.82% 7.07%



CP / CD 23.44State Bank Of Patiala A1+ 14.70ICICI Bank Ltd A1+ 8.74GOI 73.09GOI7.02% (17/08/2016) SOV 34.87GOI- 7.17% (14/06/2015) SOV 11.80GOI- 8.13% (21/09/2022) SOV 9.14GOI- 7.46% (28-8-2017) SOV 8.85GOI7.99% (09/07/2017) SOV 3.03GOI- 7.38% (3-9-2015) SOV 2.97GOI 6.85% 05-04-2012 SOV 1.21GOI 7.40% 03-05-2012 SOV 0.61GOI- 7.27% (3-09-2013) SOV 0.60GOI6.90% (13/07/2019) SOV 0.01Cash, Others 3.47Total Net Assets 100.00

TATA GILT SECURITIES FUND



Inception Date : September 06, 1999


Cash, Others 3.84

SOV 96.16

TOTAL 100.00


DEBT 5.56GOI 90.60Cash, Others 3.84Total Net Assets 100.00

Maturity Profile:



Tata Gilt Securities Fund 9.51% 1.13% 3.15% 4.87% 4.63%I Sec Composite N/A 1.53% 4.71% 7.82% 7.07%



CP / CD 5.56ICICI Bank Ltd A1+ 5.56GOI 90.60GOI- 8.26% (02/08/2027) SOV 35.45GOI8.20% (15/02/2022) SOV 12.05GOI- 8.08% (02/08/2022) SOV 11.97GOI7.56% (03/11/2014) SOV 9.15GOI7.99% (09/07/2017) SOV 8.98GOI- 8.13% (21/09/2022) SOV 6.01GOI- 7.17% (14/06/2015) SOV 5.83GOI7.35% (22/06/2024) SOV 1.09GOI10.70% (22/04/2020) SOV 0.07Cash, Others 3.84Total Net Assets 100.00




12

SCHEMES AT A GLANCE

ParticularsTata Equity OpportunitiesFund (TEOF)

Tata Pure Equity Fund(TPEF)

Tata Dividend Yield Fund(TDYF)

Tata Equity P/E Fund(TEPEF)

Date of InitialAllotment

February 25, 1993 May 7, 1998 November 22, 2004 June 29, 2004

Nature & Structureof Scheme

An open ended equity fundfocused on capitalising onopportunities offered by theequity markets from time totime with a proactive fundmanagement strategy and anaim to book profits once thetarget appreciation in priceshas been obtained.

An open ended equity fundwith a medium terminvestment philosophy and isfocused on buying intofundamentally undervaluedcompanies through a processof rigorous research

Tata Dividend Yield Fund(TDYF) is an open endedequity fund that aims to investat least 70% of its assets inshares with high dividendyields.

An open ended equity scheme.The fund aims to identifyundervalued companieswhose rolling P/E ratio are lessthan that of the BSE sensex

Investment

Objective

To provide income distributionand / or medium to long termcapital gains while at all timesemphasising the importanceof capital appreciation.


The investment objective ofthe scheme is to provideincome distribution and / ormedium to long termcapital gains by investingpredominantly in highdividend yield stocks.

The investment objective of thescheme will be to providereasonable and regular incomealong with possible capitalappreciation to its Unitholder.

Entry Load

(including SIP)

Nil Nil Nil Nil

Exit Load

(including SIP)

1%. of the applicable NAV ifredeemed on or before expiryof 365 days from the date ofallotment.


1% of the applicable NAV, ifredeemed on or before expiryof 365 days from the date ofallotment.


Investment Plans /Options

Dividend Option and GrowthOption

Dividend Option and GrowthOption

Dividend & Growth Dividend Option andGrowth Option

Minimum

Investment

For fresh investment:` 5000/- and in multiples of` 1/- thereafter.




Minimum AdditionalInvestment

` 1000/- and in multiples of` 1/- thereafter.




NAV Determination All Business Days All Business Days All Business Days All Business Days

*Average Assets

under managementas on 30th Nov., 2010(` in lacs)

67,041.04 17,489.51 72,198.8443,004.39


Tata InfrastructureFund (TISF)

December 31, 2004

An open ended equity fundthat invests atleast 70% of itsassets in equity / equity relatedinstrument of companies ininfrastructure sector.

To provide income distribution and/ or medium to long term capitalgains by investing predominantlyin equity/equity relatedinstruments of the companies inthe infrastructure sector.

Nil


Dividend Option andGrowth Option

Under each option minimuminvestment ` 5,000/- and inmultiples of `1/- thereafter.

` 1000/- and in multiples of` 1/- thereafter

All Business Days

2,09,842.95

13

SCHEMES AT A GLANCE

ParticularsTata Balanced Fund(TBF)

Tata Liquid Fund(TLF)

Tata Floater Fund(TFF)

Tata MIP Plus Fund(TMPF)(An open ended fund. MonthlyIncome is not assured and is subjectto availability of distributablesurplus)

Date of InitialAllotment

October 8, 1995 August 30, 1998 September 06, 2005 March 19, 2004

Nature & Structureof Scheme

An open ended balanced fundwith an aim to provide abalanced exposure to bothequities and debt and havinga buy-sell discipline to changethe asset allocation dynamicsin tune with market conditions

An open ended liquid schemeaimed at generating reasonablereturns and provide high liquiditywith orientation towards capitalpreservation with investmentsprimarily in short term fixedincome and money marketinstruments issued by highlyrated borrowers.

An open ended debt schemeinvesting in good quality floatingrate debt instruments, moneymarket instruments and in fixedrate debt instruments, whichcan also be swapped forfloating rate returns.

An open-ended fund. MonthlyIncome is not assured and issubject to the availabilty ofdistributable surplus.

InvestmentObjective


To create a highly liquidportfolio of good quality debtas well as money marketinstruments so as to providereasonable returns and highliquidity to the Unitholders.

To generate stable returns with alow interest rate risk strategy bycreating a por tfolio that ispredominantly invested in goodquality floating rate debtinstruments, money marketinstruments and in fixed rate debtinstruments, which can also beswapped for floating rate returns.

The investment objective of theScheme is to providereasonable and regular incomealong with possiblecapital appreciation to itsUnitholder.

Entry Load

(including SIP)

Nil Nil Nil Nil

Exit Load

(including SIP)


Nil Nil 1% of the applicable NAV, ifredeemed on or before expiry of365 days from the date ofallotment

Investment Plans /

Options

Dividend Option, MonthlyDividend Option and GrowthOption

Regular Income Plan(RIP):Offers Daily/For tnightlyDividends & Growth Option.High Investment Plan (HIP):Offers Daily / Weekly /Monthly Dividends & GrowthOption Super High InvestmentPlan (SHIP) :Offers Daily /Weekly / Monthly Dividendsand Growth Option.

Growth and DividendOption.

Growth Option and DividendOption (payout / re-investment). Dividend Optionhas three sub options i.eMonthlyDividend Option, Quar terlyDividend Option, Half YearlyDividend Option

MinimumInvestment


RIP: ` 10,000/- and inmultiples of ` 1/- thereafter.HIP: ` 10 lakhs and inmultiples of ` 1/- thereafter.SHIP: ` 1 crores and inmultiples of ` 1/- thereafter.

Minimum Application` 10,000 and in multiples of`1 thereafter

Monthly Dividend Option :` 25000/- and in multiples of` 1/- thereafter.Quar tely :` 10000/- and inmultiples of ` 1/- thereafter.Growth Option :` 5000/- andin multiples of ` 1/- thereafter.

Minimum Additional

Investment


RIP: ` 10,000/- and inmultiples of ` 1/- thereafter.HIP: ` 1 lac and in multiples of` 1/- thereafter. SHIP: ` 1 lacand in multiples of ` 1/-thereafter.

`1,000/- and in multiples of` 1/-.

Monthly Dividend Option :` 5000/- and in multiples of` 1/- thereafter.Quar terly & Growth Option:` 1000/- and in multiples of` 1/- thereafter.

NAV Determination All Business Days All Days All Business Days All Business Days

*Average Assets

under managementas on 30th Nov., 2010(` in lacs)

29,855.93 3,99,617.23 6,75,365.60 16,276.84

The cut-off timing for acceptance of subscription / repurchase / switch requests for all schemes (*except Tata Liquid Fund) Upto 3 p.m. closing NAV of the day of receipt of application; after 3 p.m. closing NAV of next

business day.

Tata Liquid Fund: Subscription: For applications received upto 12.00 noon on a day and funds are available for utilization on the same day the closing NAV of the day immediately preceding the day of receipt of

application. Applications received after 12.00 noon on a day and funds are available for utilization on the same day the closing NAV of the day immediately preceding the next business day. Re-purchase: Upto 3.00

pm the closing NAV of the day immediately preceding the next business day. After 3.00 pm the closing NAV of the next business day. Switches: Valid applications for “switch out” shall be treated as redemption

and for “switch in” shall be treated as purchases & relevant NAV shall be applicable accordingly. *Classified under liquid fund category.


14

TATA INFRASTRUCTURE FUND

Dividend per unit (`) NAV (`) (Date of Declaration of dividend)

0.45 11.4230 (07/07/2005)

1.50 22.0400 (10/11/2006)

2.00 19.0546 (09/03/2007)

2.00 24.0726 (14/09/2007)

1.00 24.6787 (11/03/2008)

1.00 30.9984 (25/09/2009)

0.60 22.2871 (23/03/2010)

Past performance may or may not be sustained in future. After payment of dividend the NAV will fall tothe extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-).

TATA EQUITY P/E FUND(Before 30th September 2009)

Dividend per unit (`) NAV (`) (Date of Declaration of dividend)

0.50 11.4449 (23/09/2004)

0.50 31.1969 (25/03/2008)

(After Split under Dividend Option w.e.f. 1st October 2009 - Dividend Trigger Option A (5%))

Dividend per unit value (`) NAV (`) (Date of Declaration of dividend)

1.80 39.8535 (26/11/2009)

1.50 41.2148 (15/01/2010)

1.50 41.0426 (27/08/2010)

1.00 40.4276 (03/09/2010)

1.75 43.0925 (11/10/2010)

(After Split under Dividend Option w.e.f. 1st October 2009 - Dividend Trigger Option B (10%))


3.00 43.1703 (15/01/2010)

1.50 41.5023 (27/08/2010)

3.50 44.6825 (11/10/2010)

Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to

the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-).

TATA PURE EQUITY FUNDDividend per unit value (`) NAV (`) (Date of Declaration of dividend)

2.00 17.7633 (07/01/2004)

1.50 15.1738 (25/03/2004)

2.00 17.3620 (02/12/2004)

1.50 16.7626 (27/04/2005)

1.00 21.9085 (17/01/2006)

3.00 31.5816 (01/06/2007)

2.00 22.9656 (17/04/2009)

2.00 38.2936 (09/07/2010)



TATA EQUITY OPPORTUNITIES FUND


1.00 15.8183 (11/05/2005)

1.00 20.1350 (29/11/2005)

5.00 25.2299 (20/03/2006)

1.00 21.1290 (12/04/2006)

1.00 21.4375 (05/05/2006)

1.00 23.3049 (29/06/2007)

1.00 31.1517 (30/11/2007)

1.50 18.9974 (26/06/2009)

2.00 24.1747(26/03/2010)

0.50 22.0757 (22/06/2010)

1.00 23.9899 (30/11/2010)



DIVIDEND HISTORY

• The Std. Dev., Sharpe Ratio, Portfolio Beta & R-squared are based on one month return calculated using last 3 years data.

• Price/Earning Ratio, Price/Book Value Ratio, are based on the historical earnings and accounting numbers, and have been computed only for the invested portion of the portfolio.

• The standard deviation is used to measure the volatility of returns.

• Sharpe Ratio is the measure of the risk-adjusted performance. It is calculated by subtracting the risk-free rate from the average rate of return for a portfolio and dividing the result by the standard deviation ofthe portfolio returns.

• Beta is the measure of the portfolio's volatility to its respective benchmark.

• R-squared is a measurement of how closely a portfolio's performance correlates with the performance of benchmark index.

Notes and Data in the Fact Sheet

TATA DIVIDEND YIELD FUND


0.40 11.0776 (07/02/2005)1.00 14.2886 (20/12/2005)1.00 11.9191 (21/07/2006)1.00 23.8872 (14/12/2007)1.50 16.2605 (03/07/2009)2.00 22.4296 (23/07/2010)


TATA BALANCED FUND


1.25 19.0084 (09/09/2003)1.50 22.6691 (11/03/2004)3.00 24.7554 (12/01/2005)4.00 40.5078 (01/12/2006)2.00 42.7533 (13/07/2007)1.00 52.4219 (07/12/2007)1.00 32.5227 (24/04/2009)3.00 50.9370 (19/03/2010)


TATA MIP PLUS FUND


0.0577 10.5485 (16/01/2007)0.0540 10.4797 (15/02/2007)0.0471 10.1816 (15/03/2007)0.0475 10.3526 (17/04/2007)0.0403 10.3882 (15/05/2007)0.0432 10.4751 (14/06/2007)0.0461 10.7390 (16/07/2007)0.0484 10.7390 (16/08/2007)0.0452 10.6700 (14/09/2007)0.0499 10.9981 (16/10/2007)0.0468 11.1391 (16/11/2007)0.0499 11.2801 (17/12/2007)0.0468 11.3933 (16/01/2008)0.0452 10.9610 (14/02/2008)0.0499 10.5319 (17/03/2008)0.0452 10.5667 (15/04/2008)0.0468 10.6638 (15/05/2008)0.0499 10.4105 (17/06/2008)0.0515 10.3218 (18/08/2008)0.0336 10.1044 (15/09/2008)0.0372 10.0786 (15/01/2009)0.0432 10.5420 (15/04/2009)0.0418 10.6248 (14/05/2009)0.0614 11.0176 (15/06/2009)0.0447 10.9508 (16/07/2009)0.0557 11.0222 (14/08/2009)0.0614 11.0463 (15/09/2009)0.0418 11.0579 (14/10/2009)0.0475 11.1949 (16/11/2009)0.0418 11.1808 (15/12/2009)0.0447 11.2875 (15/01/2010)0.0447 11.1795 (15/02/2010)0.0403 11.1771 (15/03/2010)0.0448 11.2696 (15/04/2010)0.0419 11.3233 (14/05/2010)0.0462 11.3319 (15/06/2010)0.0578 11.5313 (15/07/2010)0.0616 11.5208 (16/08/2010)0.0578 11.5865 (15/09/2010)0.0559 11.5476 (14/10/2010)0.0616 11.4783 (15/11/2010)

Past performance may or may not be sustained in future. After payment of dividend the NAV will fallto the extent of dividend payout and statutory levy, if any. (Unit face value - ` 10/-).

Disclosures: Cash and others includes Bank Balances, Receivables, Residual holdings, etc. Statutory Details: Constitution: Tata Mutual Fund has been set up as a

trust under the Indian Trusts Act, 1882. Sponsors and Settlors: Tata Sons Ltd., Tata Investment Corporation Ltd. Risk Factors: l All investments in Mutual Fund and

securities investments are subject to market risks and there can be no assurance and no guarantee that the schemes will achieve their objectives. l As with any

investment in stocks, shares and securities the NAV of the units under the schemes can go up or down, depending upon the factors and forces affecting the

capital market. l Past performance of the previous Schemes, the Sponsors or its Group affiliates is not indicative of and does not guarantee the future performance of

the Schemes. l Tata Balanced Fund, Tata Dividend Yield Fund, Tata Pure Equity Fund, Tata Liquid Fund, Tata MIP Plus Fund, Tata Equity Opportunities Fund, Tata

Equity P/E Fund, Tata Infrastructure Fund, Tata Floater Fund, Tata Short Term Bond Fund, Tata Gilt Securities Fund, Tata Gilt Securities Short Maturity Plan are

only the names of the Schemes and do not in any manner indicate either the quality of the Schemes, its future prospects or the returns.l The sponsors are not

responsible or liable for any loss resulting from the operations of the scheme beyond the initial contribution of Rs.1 lac made by them towards setting up the Mutual

Fund. l Investment in fixed income securities are subject to interest rate risk, credit risk and liquidity risk. l Pursuant to allotment of bonus units the NAV of the

schemes would fall in proportion to the bonus allotted and as a result the total value of units held by the investor would remain same. l Tata Infrastructure Fund - The

scheme being sector specific will be affected by risks associated with the Infrastructure Sector. l Tata Floater Fund - Investment in floating rate debt instrument is

subject to Basis Risk and Spread Risk. l In case of downward movement of interest rates floating rate debt instruments will give a lower return than fixed rate debt

instruments. l Monthly income is not assured and is subject to the availability of distributable surplus. l For scheme specific risk factors and other details please

read the scheme information document carefully before investing.

Investment Manager: TATA ASSET MANAGEMENT LTD. Trustee: TATA TRUSTEE COMPANY LTD.

E-mail: [email protected] Website: www.tatamutualfund.com

Computer Age Management Services (P) Ltd: Contact : 1-800-425-2267

BRANCH CONTACT DETAILSfree at : 1800-209-0101 SMS: ‘TMF’ to 57575

West Zone: Mumbai: Tata Asset Management Ltd., Mulla House, Ground Floor, 51, M.G. Road, Near Flora Fountain, Mumbai - 400 001. Tel.: 022-66315191/92/93, Fax: 022- 66315194. Borivali: Ground Floor, Shop No. 8, Victor Park, Behind Indryani Saree Shop, Chandarvarkar Road, Borivali (West), Mumbai - 400 092. Tel.: 022-65278852.Ahmedabad: 402, ‘Megha House’, Mithakhali - Law Garden Road, Netaji Marg, Ahmedabad - 380 006. Tel.: 079- 6541 8989/ 6544 7799. Fax: 079-2646 6080. Pune: Tata Asset Management Ltd., Office No 33, 3rd Floor, Yashwant, Opp Lane No. 9, Prabhat Road, Pune – 411 004. Tel.: 020-41204949, Telefax:- 41204953. Surat: 421, Jolly Plaza, Near Collector Office, Next to G.P. College, Athwa Gate, Surat - 395 001. Tel.: 0261-6554418 / 19, Fax: 0261-2470326. Vadodara: 202- 203 Madhav Complex, RC Dutt Road,GEB Circle, Alkapuri, Vadodara - 390 007. Tel.: 0265-6641888/2356114, Fax: 0265-6641999. Rajkot: Arhant Plaza , 201, 2nd Floor, Subhas Road, Near Moti Taki, Rajkot - 360001. Tel.: 0281-6624848/6544949. Indore: G-25, City Centre, 507 M.G. Road, Indore - 452 001. Tel.: 0731-4201806, Fax 0731-4201807. Bhopal: Tata Asset Management Ltd., MF-12, Block-A, Mansarovar Complex, Near Habibganj Railway Station, Bhopal - 462 016. Tel.: 0755- 2574198/3050438. Nashik: 5, Samriddhi Residency, Opp Hotel City Pride, Tilakwadi, Nashik - 422 002. Tel.: 0253-6605138 / 0253-6510315, Fax: 0253-2579098. Goa: Tata Asset Mangement Ltd, 1st floor, Indraprastha building, Above Dena Bank, Opp. Hero Honda Showroom, Dr. Shirgaonkar Road, Panjim, Goa – 403 001. Tel.: 0832 - 6451135/36/2422135, Fax: 0832-2422135. Jabalpur: TATA Asset Management Ltd., Office No. 4, 1178 , Napier Town, Home Sciences College Road, Jabalpur - 482 001(M.P.). Tel.: 0761-4074263. Nagpur: "Mile Stone", 1st Floor, Near Lokmat Square, Wardha Road, Ramdaspeth, Nagpur - 440 010, Tel.: 0712-663 0245 / 650 2885.

East Zone: Bhubaneswar: Janpath Tower, Room-208, 2nd Flr, Ashok Nagar, Bhubaneswar - 751009. Tel.: 0674-2533818. Dhanbad: 4th flr, Room No-409, Shriram Plaza, Bank More, Dhanbad - 826 001. Tel.: 9234302478/0326-2300304. Durgapur: A 206, 1st Flr, Kamdhenu Bengal Shristi Complex, City Centre, Durgapur - 713 216. Tel.: 9932241935.Guwahati: 109, 1st Flr, Orion Tower, Christian Basti, G S Road, Guwahati - 781 005 (Assam). Tel.: 0361-2343084. Kolkata: 1st floor, Kankaria Estate, 6, Little Russel Street, Kolkata – 700 071. Tel.: 033-6605 3300 / 6605 3301 / 3302 / 3319. Fax: 033-22881535. Jamshedpur: C/o Mithila Motors Ltd, 1st Floor, Bistupur, Jamshedpur - 831 001. Tel.: 0657-2756021/22/23/30. Raipur: 331 & 332, 3rd Flr, Lalganga Shopping Mall, G E Road, Raipur - 492 001 (Chhattisgarh). Tel.: 0771-2543354. Ranchi: Shop No. 23 A, Second Floor, A.C. Market, Main Road, Ranchi. Jharkhand 834001. Tel.: 0651-2330704/2330226. Patna: 605, 6th Flr, Ashiana Hariniwas, New Dak Bunglow Chowk, Patna - 800 001. Tel.: 0612-2206497. Bhilai: Shop No.145, Ground Floor, Chauhan Estate, Near HDFC Bank, Bhilai - 490 001. Tel.: 0788-2295625.

North Zone: Agra: G-12, Block No.19/4, Vimal Tower, Sanjay Place, Agra - 282 002. Tel.:- 0562-2525195. Allahabad: 43/1, S P Marg, 1st Floor, Opp. MAK Tower, Civil Lines, Allahabad (UP) - 211 001. Tel. :- 0532-6451122. Amritsar: Mezzanine floor, S.C.O – 25, B Block, District Shopping Complex, Ranjit Avenue, Amritsar – 143 001. Tel.: 98140 82808. Chandigarh: Cabin No.3-4-5, 1st Floor, Meeting Point, SCO - 487/488, Sector- 35C, Chandigarh - 160 022. Tel.: 0172 - 5087322 /6450322/2605320, Fax: 0172 - 2603770. Dehradun: Shop No. 19, Ground Floor,Shree Radha Palace, 78, Rajpur Road, Dehradun-248001, Uttarakhand. Tel.: 0135-6450877. Jaipur: 233, 2nd Floor, Ganpati Plaza, M I Road, Jaipur - 302 001. Tel.: 0141 - 5105177 / 78 / 2389387 / 6539009, Fax: 5105178. Kanpur: 4th floor, Office no. 412 - 413, KAN Chambers, 14 / 113, Civil Lines, Kanpur - 208 001. Tel.: 0512 - 2306066, Fax: 0512 - 2306065. Delhi: 7th Floor, No. E - H, Vandana building, 11, Tolstoy Marg, Connaught Place, New Delhi 110 001. Tel.: 011-66324111/102/103/104/105, Fax: 011-66303202. Lucknow: Office No.2, Saran Chambers-I, 1st Floor, 5,Park Road, Lucknow - 226 001. Tel.: 0522-6452432/4001731, Fax: 0522-2235386. Ludhiana: Cabin No. 201, 2nd. Floor, SCO 18, Opp Ludhiana Stock Exchange, Feroze Gandhi Market, Ludhiana - 141 001. Tel.: 0161 - 5089667/6503366, Fax: 0161-2413498. Moradabad: Tata Asset Management Ltd., Ground floor, Near Hotel Rajmahal, Civil Lines, Moradabad – 244 001, Tel.: 0591 - 2410667, 6535002. Jodhpur: Ground Floor, Jaya Enclave , 79/4, Opp IDBI Bank, 1st A Road, Sardarpura, Jodhpur - 342 001. Tel.: 0291-6450555/2631257, Fax: 0291-2631257. Udaipur: Office No - 4, 2nd Floor, Madhav Appartment, Opp GPO, Chetak Circle, Udaipur - 313 001. Tel.: 0294 - 6450979/ 2429371, Fax: 0294-2429371. Varanasi : D-64/127, C-H Arihant Complex, Sigra, Varanasi - 221010 Tel .: 0542 - 6544655. Jalandhar : 2nd Floor, Above ING Vyasya Bank, Namdev Chowk, Jalandhar 144 001 Tel.: 0181-5001024/25.

South Zone: Bangalore: 4/6, Millers Road, High Grounds, Bangalore – 560 052. Tel.: 080-66561313 / 65335986 / 65335987, Fax: 080-22370512. Calicut: C-8 & 9, Friends Commercial Complex, Near Federal Towers,Arayadathu Palam, Mavoor Road, Calicut - 673016. Tel.: 0495-6450508. Chennai: TATA Asset Management Ltd, Riaz Garden, 3rd Floor, No:29, Kodambakkam High Road, Near Palmgrove Hotel, Nungambakkam, Chennai - 600 034. Tel.: 044-64541868/69/78. Fax: 044-43546313. Cochin: 2nd Floor, Ajay Vihar, JOS Junction, M. G. Road, Cochin - 682 016. Tel.: 0484 - 2377580, 6533107, 6467813/14/15/16. Fax: 0484 - 237 7581. Coimbatore: Tulsi Chambers, 195 F, Ground Floor, West T V Swamy Road, R S Puram, Coimbatore – 641002. Tel.: 0422 - 6502133/44, 4365635, Fax: 2546585. Hyderabad: 3rd floor, Block B, R R Estate, G.S MALL, Somajiguda, Hyderabad-82. Tel.: 040-65961237/38 & 65548290, Fax: 040-66363187. Hubli: 15 & 16, 2nd floor, Eureka Junction, Travellers Bangalow Road, Above ICICI Bank, Hubli - 580 029. Tel.: 0836-6450342 Fax: 4251510. Kottayam: C S I Ascention Square, Collectrorate P. O., Kottayam - 686 002. Tel.: 9447559230. Mangalore: Tata Asset Management Ltd., Essel Towers, 1st Floor, Bunts Hostel Circle, Above UTI Bank, Mangalore - 575 003. Tel.: 0824-6450308. Madurai: A - 1st Floor, A.R. Plaza, No:16/17,North Veli Street, Madurai-625001. Tel.: 0452-6454330 Fax: 0452-4246315 Mysore: 847, 1st Floor , New Kantharaja Urs Road, Above New Krishna Sweets & Bakery, Kuvempu Nagar, Mysore - 570 023. Tel.: 0821-6450470 Fax: 4246676. Salem: Raj Towers, Ground Floor, No: 4, Brindavan Road, Fairlands, Salem - 636 016. Tel.: 0427-6451653 Fax: 4042028. Thiruvananthapuram: Krishna Tower, 4th Floor, Sasthamangalam, Trivandrum - 695 010 Tel.: 0471-6535431/2319139 Fax: 0471-2319139 Trichy: No.60/3, 'Krishna', 2nd Floor, Sastri Main Road,Tennur, Trichy - 620 017. Tel.: 0431-6455060. Thrissur: 4th Floor, Pathayappura buildings, Round South, Thrissur - 680 001. Tel.: 0487-6451286. Vijaywada: Ground Floor, D. no.40 – 13 – 5, Sri Rama Chandra Complex, Chandra Mouli Puram, M. G. road, Benz Circle, Vijayawada – 520 010. Tel.: 0866-6532621. Vishakapatnam: Door no. 47-15-14 & 15, Shop no. 102 B, Ground floor, V R C Complex, Opp. T S R Complex, Next to Andhra Bank, Visakhapatnam – 530 016. Tel.: 0891 – 6451883 Fax: 0891-2503292.

My Infrastructure, My Pride.

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