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Value Research Analytics
The scheme, earlier known as Canpep
'93 seeks capital appreciation by invest-
ing around 85-95 per cent of the corpus
in equity and debt instruments. Exposure
to money market instruments would be
upto 15 per cent of the corpus. The
scheme has been converted in to an
open-ended plan from May 1999.
INVESTMENT OBJECTIVE
The portfolio straddles across large and mid-cap stocks
Diversified across sectors - 28-stock portfolio with top 10
accounting for 46%
weight
Low-churn portfolio, with a portfolio turnover of 0.20 times
only
FUND CHARACTERISTICS
Fund Inception 31-Mar-1993
Fund Manager N S Sriram
NAV (Rs) 13.38
Benchmark BSE 100
Status Open-end
Plan Dividend
Number of dividends in last 3 years 3
Minimum Investment (Rs) 500
Minimum SIP Investment (Rs) 1000
Entry Load: 2.25% for investment less
than Rs 5 crores.
Exit Load:1% for investment less than
Rs.5 crores if redeemed within 1 year.
BASIC DETAILS
Fund BSE 100
3 Month -15.10 -14.61
6 Month -38.22 -36.98
1 Year -11.57 -7.57
3 Year 24.47 22.76
5 Year 30.54 31.04
Since Launch 13.80 13.47
RETURNS (%) As on Jun 30, 2008
Fund BSE 100
Standard Deviation 30.87 28.72
R-squared 0.79 -
Sharpe ratio 0.71 0.68
Beta 1.00 -
Alpha 2.97 -
Based on 36-month period ending Jun 30, 2008
RISK ANALYSIS
HISTORICAL RISK/RETURN
CANARA ROBECO EQUITY TAX SAVER Equity Tax Saving
Annualised Std Dev
Canara Robeco Equity Tax Saver
BSE 100
60
50
40
30
20
10
0
An
nu
alis
ed
Re
turn
2008 2007 2006 2005 2004 2003
Total Return (%) -38.22 65.21 31.46 49.81 16.69 73.65
BSE 100 (%) -36.98 59.74 40.97 38.35 16.44 84.71
Net Assets (Rs.Cr) 23.01 35.55 17.34 9.28 8.93 9.09
CALENDAR YEAR RETURNS (%)
PERFORMANCE VIS-A-VIS BENCHMARK
Period SIP of Rs 1000 per Month
Amount Invested Value of Investment
1 Year 12,000 9387
3 Year 36,000 38125
5 Year 60,000 97745As on June 30, 2008
SIP RETURNS
Year Mar Jun Sep Dec
2008 -29.09 -15.10 - -
2007 -3.87 20.07 13.55 26.06
2006 20.75 -17.1 12.32 16.93
2005 1.47 2.72 41.43 1.62
2004 -9.83 -11.88 20.35 22.03
QUARTERLY RETURNS (%)
Best Worst
Bench Bench
Period Fund mark Period Fund mark
1 Month 03 Dec 99 to 04 Jan 00 34 27 12 May 06 to 13 Jun 06 -31
-28
3 Month 15 Nov 99 to 14 Feb 00 66 61 21 Feb 00 to 22 May 00 -41
-50
1 Year 11 Feb 99 to 11 Feb 00 172 134 15 Sep 00 to 17 Sep 01 -60
-46
BEST/WORST RETURN (%)
0 10 20 30 40 50 60
Based on 36-month period ending Jun 30, 08
Returns up to 1 year are absolute and those above 1 year are
annualised
June 2008
*year to date as on 30th June 2008
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Sector Break-up
Company %
Reliance Industries 7.28
Axis Bank 5.25
Bharti Airtel 4.70
Infosys Technologies 4.52
Bombay Dyeing & Mfg. Co. 4.30
I T C 4.06
Tata Consultancy Services 3.73
Kaveri Seed Company 3.25
Jindal Steel & Power 3.05
Bharat Heavy Electricals 3.00
National Thermal Power Corp. 2.97
Cadila Healthcare 2.91
Larsen & Toubro 2.85
Mercator Lines 2.73
Reliance Petroleum 2.59
Indicates an increase or decrease or no change in holding since
last portfolio Indicates a new holding since last
portfolio
Sector Fund BSE 100
Technology 17.36 18.15
Energy 14.71 23.81
Financial Services 13.97 18.44
Services 8.66 1.81
Diversified 7.60 6.60
Metals & Metal Products 7.45 8.56
Consumer Non-Durable 7.31 6.37
Textiles 4.30 -
Basic/Engineering 3.00 3.99
Health Care 2.91 4.13
Construction 2.33 3.81
Chemicals 1.22 1.15
Top 15 Stock Holdings
PORTFOLIO ANALYSIS
CANARA ROBECO EQUITY TAX SAVER Equity Tax Saving
Jun 08 Mar 08 Dec 07 Sep 07 Jun 07 Mar 07
Total Stocks 31 31 34 33 39 33
Avg Mkt Cap (Rs cr) 18,972 35,956 38,154 24,666 11,498
10,663
ALLOCATION (%)
Top 5 Holdings 26.05 24.19 30.35 24.94 22.83 19.12
Top 10 Holdings 43.14 44.21 49.34 42.71 39.86 33.03
Top 3 Sectors 46.04 46.81 54.11 46.67 51.55 39.50
Large Cap Stocks 65.39 76.28 75.2 64.94 54.24 52.49
Mid Cap Stocks 21.96 18.94 18.99 31.21 35.25 32.69
Small Cap Stocks 12.65 4.78 5.81 3.85 6.37 14.82
PORTFOLIO CHARACTERISTICS
PERFORMANCE VIS-A-VIS PEERS
Classification of Stocks into Large, Mid and Small Caps: All the
stocks listed on BSE are considered and arranged in the descending
order of market capitalisation.All the stocks that account for 70%
of the total market capitalisation are classified as Large Cap
stocks, those between 70 and 90% are classified as Mid Caps
andthose accounting for next 10% are classified as Small Caps.
Risk Factors: All investments in mutual funds and securities are
subject to market risks and the NAV of the funds may go up and down
depending upon the factors affect-ing the securities markets.
June 2008
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FUND PROFILEFUND CLASSIFICATION
CANARA ROBECO EQUITY TAX SAVER Equity Tax Saving
June 2008
Cap Classification: Large and mid-cap oriented.
Sector Weightage: Typically around 20% max weight
Stock Weightage: Top 10 typically accounts for atleast 40% of
portfolio.
Number of Stocks: Around 50
Benchmark: BSE 100
Fund Market Cap Large Mid Small Top 5 Top 10 *Return(%)
*Standard
(Rs Cr) Cap Cap Cap Holdings Holdings Deviation
Birla Sun Life Tax Relief 96 12,043 54.24 21.44 24.31 26.40
42.06 -17.81 43.70
Canara Robeco Equity Tax Saver 18,972 65.39 21.96 12.65 26.05
43.14 -11.57 39.92
DSPML Tax Saver 6,814 44.73 34.61 19.91 15.52 25.31 -3.49
41.44
Fidelity Tax Advantage 18,949 59.37 28.32 11.10 18.97 30.66
-11.42 33.27
Franklin India Taxshield 31,900 77.89 20.30 1.81 33.15 49.86
-10.22 36.54
HDFC Taxsaver 14,502 52.58 39.32 8.10 26.67 42.90 -19.22
31.54
ICICI Prudential Tax Plan 5,001 31.76 36.87 30.08 22.42 37.01
-10.45 36.79
Kotak Tax Saver 13,056 55.78 34.87 7.84 18.75 30.66 -18.52
39.09
Lotus India Tax Plan 8,230 35.64 50.17 14.19 23.71 45.00 -8.52
36.14
Magnum Taxgain 22,639 67.37 29.48 3.15 18.25 30.43 -12.01
34.66
Principal Personal Tax Saver 5,617 35.88 30.44 33.69 17.96 31.10
-10.25 38.18
Principal Tax Savings 5,166 41.16 19.63 36.66 23.01 39.62 -16.54
41.49
Reliance Tax Saver 11,314 56.64 21.57 21.79 23.49 37.89 -20.60
38.49
Reliance Tax Saver 11,314 56.64 21.57 21.79 23.49 37.89 -20.60
38.49
Sahara Tax Gain 10,983 52.58 29.36 18.07 13.91 26.64 -7.94
39.39
Sundaram BNP Paribas Taxsaver 27,448 79.17 14.07 6.76 22.95
41.70 2.47 39.80
UTI Equity Tax Savings 23,664 74.66 15.73 8.66 22.38 37.21 -7.38
35.52
Data as on June 30, 2008 Data as per Value Research
classifications
PEER PRODUCT SET
Tax Planning Fund
3-year lock-in period allows fund manager to take
long term calls which helps manage volatility
Tax-saving benefit along with relatively higher
returns from equity is added advantage
Fund Name: Canara Robeco Equity Tax Saver. Fund Type: Open-end
equity-linked savingsscheme. Fund Objective: To provide long
termcapital appreciation by predominantly investing in equities.
Asset Allocation: Equity and equity-related instruments: 80% to
100%; debt andmoney market instruments: up to 20%.Statutory
Details: Canara Robeco Mutual Fund has been set up as a trust under
the Indian Trusts Act1882. Sponsors: Canara Bank, 112 J C Road,
Bangalore; Robeco Groep N.V, Coolsingel 120, 3011 Rotterdam,
Netherlands. InvestmentManager: Canara Robeco Asset Management
Company. Risk Factors: Mutual Funds and securities investments are
subject to market risksand there can be no assurance or guarantee
that the objectives of the scheme will be achieved. As with any
investment in securities, theNAV of the units issued under the
scheme may go up or down depending upon the factors and forces
affecting the securities market. Pastperformance of the
sponsors/AMC/Mutual Fund does not guarantee future performance of
the scheme. The sponsors of the fund are notresponsible or liable
for any loss or shortfall resulting from the operation of the
schemes of the mutual fund beyond the initial contribution ofa sum
of Rs.10 lac towards the setting up of the mutual fund. Investors
should read the offer document carefully for scheme-specific risk
fac-tors and other details before investing.
*period 1 Year
The stocks accounting for 70 percent of the total market
capitalisation of the listed stocks on the BSE, are classified as
Large Cap stocks,those between 70 and 90 per cent are classified as
Mid Caps and those accounting for next 10 per cent are classified
as Small Caps.We arrive at the market capitalisation of the fund by
taking the geometric mean of the net asset weighted market
capitalisations of all the con-stituent stocks.
