Factsheet GS

Toll Free 1800-266-1220 Fax +91-22-66279245 Website www.gsam.in Email [email protected]

Goldman Sachs India Equity Fund

Goldman Sachs CNX 500 Fund

Goldman Sachs Short Term Fund

TMGS Nifty BeES

TMGS Junior BeES

TMGS Bank BeES

TMGS PSU Bank BeES

TMGS Shariah BeES

TMGS Hang Seng BeES

TMGS Infra BeES

TMGS Liquid BeES

TMGS Gold BeES

FACTSHEET Monthly FundUpdate 0214

GS BeESETFs in India

TM

Other Open Ended Schemes in India

*Investors should consult their financial advisers if in doubt whether the product is suitable for them.

Note: Risk is represented as:

(BLUE) investors understand that their principal will be at low risk

(YELLOW) investors understand that their principal will be at medium risk

(BROWN) investors understand that their principal will be at high risk

long-term capital appreciation. investment in securities covered by CNX Nifty Index. high risk. (BROWN)

long-term capital appreciation. investment in securities covered by CNX Nifty Junior Index. high risk. (BROWN)

long-term capital appreciation. investment in securities covered by CNX Bank Index. high risk. (BROWN)

long-term capital appreciation. investment in securities covered by CNX PSU Bank Index. high risk. (BROWN)

long-term capital appreciation. investment in securities covered by Hang Seng Index. high risk. (BROWN)

long-term capital appreciation. investment in securities covered by CNX Nifty Shariah Index. high risk. (BROWN)

current income with high degree of liquidity. investment in Money Market and Debt Instruments. low risk. (BLUE)

long-term capital appreciation. investment in securities covered by CNX Infrastructure Index. high risk. (BROWN)

This product is suitable for investors who are seeking*:

portfolio diversification through asset allocation. investment in Physical Gold. high risk. (BROWN)

long-term capital appreciation. investment in equity and equity-related securities, debt securities and money market instruments. high risk. (BROWN)

long-term capital appreciation. investment in securities covered by CNX 500 Index. high risk. (BROWN)

Name of Scheme

GS Nifty BeES

GS Junior BeES

GS Bank BeES

GS PSU Bank BeES

GS Shariah BeES

GS Hang Seng BeES

GS Infra BeES

GS Liquid BeES

GS Gold BeES


Goldman Sachs CNX 500 Fund

Goldman Sachs Short Term Fund enhanced returns in medium term with minimum risk, while maintaining safety & liquidity. investment in Money Market and Debt Instruments. medium risk. (YELLOW)

Product LabelMonthly FundUpdate

2

0214

Stock Performers for February 2014

CNX NIFTY JUNIOR INDEX Top 5 & bottom 5

Market Snapshot

Index % Change

CNX Nifty 6276.95 6089.50 3.08

CNX Nifty Junior 12180.00 11993.05 1.56

CNX Bank 10764.70 10237.75 5.15

CNX PSU Bank 2162.50 2176.50 -0.64

CNX 500 4849.50 4709.15 2.98

CNX Nifty Shariah 1444.22 1434.30 0.69

February 28, 2014 January 31, 2014

Full Market Capitalisation Comparison

Full Market Cap (As on February 28, 2014) ` in Cr. %

CNX 500 6,369,434 94.70

CNX Nifty 4,206,042 62.53

CNX Nifty Junior 886,246 13.18

Total Market Capitalisation 6,725,934 100.00

FACTSHEETMonthly FundUpdate

Sectoral Performance for February 2014

Note: Calculated based on closing market price of stock as on last working day of current month & previous month. Source: NSE

Note: Calculated based on closing market price of stock as on last working day of current month & previous month. Sectors as per AMFI classification. Source: NSE & AMFI

CNX NIFTY INDEX Top 5 & bottom 5

CNX NIFTY JUNIOR INDEX Top 5 & bottom 5CNX NIFTY INDEX Top 5 & bottom 5

3

0214

-12.07%

-11.11%

-8.70%

-6.41%

-5.71%

12.55%

12.83%

12.88%

13.13%

19.28%

-15% -10% -5% 0% 5% 10% 15% 20% 25%

NMDC Ltd

NTPC Ltd

Bharti Airtel Ltd

Cipla Ltd

Sesa Sterlite Ltd

Larsen & Toubro Ltd

Axis Bank Ltd

Lupin Ltd

Ranbaxy Laboratories Ltd

Tata Motors Ltd

-13.17%

-10.62%

-10.17%

-9.11%

-5.43%

10.97%

12.27%

13.81%

15.87%

20.90%

-15% -10% -5% 0% 5% 10% 15% 20% 25%

Steel Authority of India Ltd

Bank of India

Idea Cellular Ltd

Reliance Communications Ltd

Shriram Transport Finance Co. Ltd

Crompton Greaves Ltd

Siemens Ltd

Adani Ports & Special Economic Zone Ltd

Cummins India Ltd

Power Finance Corporation Ltd

-8.70%

-4.82%

-2.89%

-1.29%

4.45%

4.89%

7.94%

9.13%

11.43%

-10% -5% 0% 5% 10% 15%

Telecom

Metals

Industrial Manufacturing

Energy

Financial Services

Cement & Cement Products

Pharma

Automobile

Construction

-9.73%

-7.36%

-3.33%

-1.06%

3.14%

3.82%

6.26%

6.53%

12.66%

-15% -10% -5% 0% 5% 10% 15%

Telecom

Metals

Fertilisers & Pesticides

Healthcare Services

IT

Pharma

Services

Automobile

Industrial Manufacturing

FactsheetTMGS Nifty BeESGoldman Sachs Nifty Exchange Traded SchemeAn Open-Ended Exchange Listed Index Scheme

The investment objective of GS Nifty BeES is to provide investment returns that,

before expenses, closely correspond to the total returns of securities as

represented by the CNX Nifty Index.

Investment Objective Fund Manager

Fund Managers Experience

Vishal Jain

In managing this fund : Since allotment date, total experience : 17 Yrs

Scheme Performance as on December 31, 2013

Returns for one year are absolute. Returns for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. Bonus declared has been adjusted. Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details

Allotment date December 28, 2001

Average AUM for the month ` 360.95 Cr.

Benchmark index CNX Nifty Index

NAV ` 636.1707

Load structure Entry : Nil Exit : Nil

Exchange listed NSE

NSE symbol NIFTYBEES

BSE code 590103

ISIN INF732E01011

Bloomberg code NBEES:IN

Reuters code NBES.NSthPricing (per unit) 1/10 of Index

Minimum investment

Directly with fund - Creation/redemption in exchange of Portfolio Deposit and Cash Component in creation unit size of 10,000 units and in multiples thereafter. On the exchange - 1 unit & in multiples of 1 unit thereafter.

Last Change in CNX Nifty Index

The following been excluded from the CNX Nifty w.e.f. September 27, 2013:

company has The following been included in the CNX Nifty w.e.f. September 27, 2013:

company has

CNX Nifty Index Facts

Full market capitalisation ` 4,206,041.98 Cr.

P/E multiple 17.67

P/B multiple 2.97

Dividend yield 1.49%

(Source: www.nseindia.com)

@ - Financial year to date expense ratio to average AUM. For maximum chargeable expense ratio, please refer to the SID.

# - Based on 1 year monthly data history.^ - Risk free returns based on 364-days T-bill cut-off of 9.0046% as

on February 18, 2014.

Portfolio as on February 28, 2014

(A) Equity

Listed

Infosys Ltd Software 8.93

ITC Ltd Consumer Non Durables 8.75

Reliance Industries Ltd Petroleum Products 6.36

Housing Development Finance 6.18

Finance Corporation Ltd

HDFC Bank Ltd Banks 6.00

ICICI Bank Ltd Banks 5.83

Tata Consultancy Software 5.63

Services Ltd

Larsen & Toubro Ltd Construction Project 4.37

Tata Motors Ltd Auto 3.62

Oil & Natural Gas Oil 2.49

Corporation Ltd

Sun Pharmaceuticals Pharmaceuticals 2.35

Industries Ltd

State Bank of India Banks 2.29

Mahindra & Mahindra Ltd Auto 2.17

HCL Technologies Ltd Software 2.04

Axis Bank Ltd Banks 1.90

Wipro Ltd Software 1.89

Hindustan Unilever Ltd Consumer Non Durables 1.88

Dr. Reddy's Laboratories Ltd Pharmaceuticals 1.77

Bharti Airtel Ltd Telecom - Services 1.65

Bajaj Auto Ltd Auto 1.26

Kotak Mahindra Bank Ltd Banks 1.26

Lupin Ltd Pharmaceuticals 1.15

Hero MotoCorp Ltd Auto 1.14

NTPC Ltd Power 1.12

Tata Steel Ltd Ferrous Metals 1.11

Instrument Industry Weightage (%)

Sesa Sterlite Ltd Minerals/Mining 1.06

Asian Paints Ltd Consumer Non Durables 1.04

Maruti Suzuki India Ltd Auto 1.02

Power Grid Corporation Power 1.01

of India Ltd

Cipla Ltd Pharmaceuticals 0.94

Cairn India Ltd Oil 0.93

UltraTech Cement Ltd Cement 0.90

IndusInd Bank Ltd Banks 0.82

GAIL (India) Ltd Gas 0.81

Grasim Industries Ltd Cement 0.78

Coal India Ltd Minerals/Mining 0.75

Hindalco Industries Ltd Non - Ferrous Metals 0.66

Bharat Heavy Electricals Ltd Industrial Capital Goods 0.64

Ambuja Cements Ltd Cement 0.62

Tata Power Company Ltd Power 0.61

IDFC Ltd Finance 0.57

Bank of Baroda Banks 0.51

ACC Ltd Cement 0.50

NMDC Ltd Minerals/Mining 0.49

Bharat Petroleum Petroleum Products 0.47

Corporation Ltd

Jindal Steel & Power Ltd Ferrous Metals 0.43

Punjab National Bank Banks 0.40

DLF Ltd Construction 0.30

Ranbaxy Laboratories Ltd Pharmaceuticals 0.27

Jaiprakash Associates Ltd Construction 0.25

Total (A) 99.90

(B) Other Current Assets 0.10

Grand Total 100.00

Particulars December 31, 2012 to December 31, 2011 to December 31, 2010 to Since Inception

December 31, 2013 December 31, 2012 December 31, 2011

Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR)

GS Nifty BeES 7.88 10788 29.10 12910 -23.87 7613 17.75 71258$, ^^Benchmark 6.76 10676 27.70 12770 -24.62 7538 16.24 60979

Total Returns Index 8.07 10807 29.43 12943 -23.81 7619 18.00 73071

$ CNX Nifty Index, ^^Also represents Additional Benchmark

Details of Dividend by GS Nifty BeES

All Dividends are on face value of 10 per unit. The NAV of the scheme, pursuant to pay out would fall to the extent of payout and statutory levy (if applicable).

Type of Record date Rate NAV per unit (`)

distribution cum dividend

Dividend March 14, 2013 ` 7.50 per unit 599.2203


No. Company name

1. Reliance Infrastructure Ltd 1. Wipro Ltd

No. Company name


Industry Allocation as on February 28, 2014

4

Monthly FundUpdateAll data as of February 28, 2014

#Tracking error 0.12% Annualized

Total expense ratio 0.54% Annualized@year to date

Standard deviation 15.16% Annualized#Beta 1.00

^Sharpe ratio (0.22) Annualized

Portfolio turnover ratio 1.18

0214

0.55%0.64%0.66%0.81%

1.54%1.65%

2.30%2.74%2.81%

3.42%4.37%

6.49%6.75%6.83%

9.21%11.67%

18.48%19.00%

0% 5% 10% 15% 20%

ConstructionIndustrial Capital Goods

Non - Ferrous MetalsGas

Ferrous MetalsTelecom - Services

Minerals/MiningPower

CementOil

Construction ProjectPharmaceuticals

FinancePetroleum Products

AutoConsumer Non Durables

SoftwareBanks

FactsheetTMGS Junior BeESGoldman Sachs Nifty Junior Exchange Traded SchemeAn Open-Ended Exchange Listed Index Scheme

The investment objective of GS Junior BeES is to provide returns that, before

expenses, closely correspond to the returns of securities as represented by the

CNX Nifty Junior Index.



Payal Kaipunjal

In managing this fund : Since May 2008, total experience : 9 Yrs


Returns for one year are absolute. Returns for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. Bonus declared has been adjusted. Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details

Allotment date February 21, 2003


Benchmark index CNX Nifty Junior Index

NAV ` 123.3958


Exchange listed NSE

NSE symbol JUNIORBEES

BSE code 590104

ISIN INF732E01045

Bloomberg code JBEES:IN

Reuters code JBES.NSthPricing (per unit) 1/100 of Index

Minimum investment




Standard deviation 19.58 % Annualized#Beta 0.99



Last Change in CNX Nifty Junior Index

The following companies have been excluded from the CNX Nifty Junior w.e.f. September 27, 2013:

The following companies have been included in the CNX Nifty Junior w.e.f. September 27, 2013:

CNX Nifty Junior Index Facts

Full market capitalisation ` 886,245.98 Cr.

P/E multiple 15.49

P/B multiple 2.22










GS Junior BeES 5.13 10513 48.80 14880 -31.64 6836 22.89 93905$Benchmark 4.81 10481 48.08 14808 -31.87 6813 22.71 92400

Total Returns Index 6.03 10603 49.84 14984 -31.11 6889 24.41 107345$$Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 17.77 59129

$ CNX Nifty Junior Index, $$ CNX Nifty Index

(A) EquityListedTech Mahindra Ltd Software 7.68United Spirits Ltd Consumer Non Durables 5.22GlaxoSmithKline Pharmaceuticals 3.52Pharmaceuticals LtdIdea Cellular Ltd Telecom - Services 2.88Titan Company Ltd Consumer Durables 2.80JSW Steel Ltd Ferrous Metals 2.80Shriram Transport Finance Finance 2.75Company LtdGodrej Consumer Consumer Non Durables 2.71Products LtdDabur India Ltd Consumer Non Durables 2.63Divi's Laboratories Ltd Pharmaceuticals 2.51Colgate Palmolive (India) Consumer Non Durables 2.42LtdAdani Ports & Special Transportation 2.40Economic Zone LtdBosch Ltd Auto Ancillaries 2.36Yes Bank Ltd Banks 2.27Glenmark Pharmaceuticals Pharmaceuticals 2.21LtdReliance Communications Telecom - Services 2.07LtdApollo Hospitals Healthcare Services 1.94Enterprise LtdAdani Enterprises Ltd Trading 1.94Cummins India Ltd Industrial Products 1.90Mahindra & Mahindra Finance 1.87Financial Services LtdThe Federal Bank Ltd Banks 1.82Oracle Financial Services Software 1.82Software LtdRural Electrification Finance 1.76Corporation Ltd


LIC Housing Finance Ltd Finance 1.72Oil India Ltd Oil 1.72Aditya Birla Nuvo Ltd Services 1.63Bajaj Holdings & Investment Finance 1.60LtdUPL Ltd Pesticides 1.59Power Finance Corporation Finance 1.58LtdTata Global Beverages Ltd Consumer Non Durables 1.55Siemens Ltd Industrial Capital Goods 1.53Container Corporation of Transportation 1.52India LtdUnited Breweries Ltd Consumer Non Durables 1.48Exide Industries Ltd Auto Ancillaries 1.41GlaxoSmithKline Consumer Consumer Non Durables 1.40Healthcare LtdBharat Forge Ltd Industrial Products 1.31Tata Chemicals Ltd Chemicals 1.30Crompton Greaves Ltd Industrial Capital Goods 1.29Steel Authority of India Ltd Ferrous Metals 1.27Hindustan Petroleum Petroleum Products 1.21Corporation LtdReliance Power Ltd Power 1.20Bajaj Finserv Ltd Finance 1.19Bank of India Banks 1.01Petronet LNG Ltd Gas 1.01Reliance Capital Ltd Finance 0.96Canara Bank Banks 0.86MphasiS Ltd Software 0.79Union Bank of India Banks 0.72IDBI Bank Ltd Banks 0.58Total (A) 95.70(B) Other Current Assets 4.30Grand Total 100.00


5

No. Company name No. Company name

1. Ashok Leyland Ltd 1. Mahindra & MahindraFinancial Services Ltd

2. Indian Hotels Co. Ltd 2. Oil India Ltd


Monthly FundUpdate

0214All data as of February 28, 2014

1.01%

1.20%

1.21%

1.30%

1.59%

1.63%

1.72%

1.94%

1.94%

2.80%

2.82%

3.21%

3.76%

3.92%

4.07%

4.95%

7.26%

8.24%

10.28%

13.44%

17.41%

0% 5% 10% 15% 20%

Gas

Power

Petroleum Products

Chemicals

Pesticides

Services

Oil

Trading

Healthcare Services

Consumer Durables

Industrial Capital Goods

Industrial Products

Auto Ancillaries

Transportation

Ferrous Metals

Telecom -Services

Banks

Pharmaceuticals

Software

Finance

Consumer Non Durables

FactsheetTMGS Bank BeESGoldman Sachs Banking Index Exchange Traded SchemeAn Open-Ended Exchange Listed Index Scheme

The investment objective of GS Bank BeES is to provide returns that, before

expenses, closely correspond to the total returns of securities as represented by

the CNX Bank Index.



Vishal Jain



Returns for one year are absolute. Returns for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details

Allotment date May 27, 2004


Benchmark index CNX Bank Index

NAV ` 1090.0471


Exchange listed NSE

NSE symbol BANKBEES

BSE code 590106

ISIN INF732E01078

Bloomberg code BBEES:IN

Reuters code BBES.NSthPricing (per unit) 1/10 of Index

Minimum investment







Last Change in CNX Bank Index

The following company has been excluded from the CNX Bank w.e.f. April 27, 2012:

The following company has been included in the CNX Bank w.e.f. April 27, 2012:

CNX Bank Index Facts


P/E multiple 11.97

P/B multiple 1.87










GS Bank BeES -7.70 9230 58.42 15842 -31.89 6811 18.44 50806$Benchmark -8.73 9127 56.54 15654 -32.42 6758 16.96 45008

Total Returns Index -7.69 9231 58.44 15844 -31.75 6825 18.72 51973$$Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 15.45 39738

$ CNX Bank Index, $$ CNX Nifty Index


1. Industrial Development 1. Yes Bank LtdBank of India Ltd

Details of Dividend by GS Bank BeES

Type of Record date Rate NAV per unit (`)

distribution cum dividend



All Dividends are on face value of ` 10 per unit. The NAV of the scheme, pursuant to pay out would fall to the extent of payout and statutory levy (if applicable).

(A) Equity

Listed

HDFC Bank Ltd Banks 30.18

ICICI Bank Ltd Banks 29.32


Axis Bank Ltd Banks 9.56

Kotak Mahindra Bank Ltd Banks 6.34

IndusInd Bank Ltd Banks 4.12




Yes Bank Ltd Banks 1.99

Bank of India Banks 0.89

Canara Bank Banks 0.75

Union Bank of India Banks 0.63

Total (A) 99.88


Grand Total 100.00


6

Monthly FundUpdate


FactsheetTMGS PSU Bank BeESGoldman Sachs PSU Bank Exchange Traded SchemeAn Open-Ended Exchange Listed Index Scheme

The investment objective of GS PSU Bank BeES is to provide returns that, before

expenses, closely correspond to the total returns of the securities as

represented by the CNX PSU Bank Index.



Payal Kaipunjal

In managing this fund : Since May 2008, total experience : 9 Yrs


Returns for one year are absolute. Returns for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details

Allotment date October 25, 2007


Benchmark index CNX PSU Bank Index

NAV ` 235.5186


Exchange listed NSE

NSE symbol PSUBNKBEES

BSE code 590108

ISIN INF732E01110

Bloomberg code PSUBBE:INEQUITY

Reuters code PSUB.NSthPricing (per unit) 1/10 of Index

Minimum investment







Last Change in CNX PSU Bank Index

The following company has been excluded from the CNX PSU Bank w.e.f. October 22, 2009:

The following company has been included in the CNX PSU Bank w.e.f. October 22, 2009:

CNX PSU Bank Index Facts


P/E multiple 6.95

P/B multiple 0.78










GS PSU Bank BeES -28.56 7144 44.20 14420 -41.07 5893 1.07 10680$Benchmark -30.44 6956 40.63 14063 -41.82 5818 -0.46 9720

Total Returns Index -28.71 7129 43.50 14350 -40.87 5913 1.55 10999$$Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 2.02 11320

$ CNX PSU Bank Index, $$ CNX Nifty Index


1. Corporation Bank 1. Allahabad Bank

(A) Equity

Listed




Bank of India Banks 4.28

Canara Bank Banks 3.61

Union Bank of India Banks 3.02

IDBI Bank Ltd Banks 2.46


Oriental Bank of Commerce Banks 2.39

Syndicate Bank Banks 1.99

Allahabad Bank Banks 1.96

Andhra Bank Banks 1.54

Indian Overseas Bank Banks 1.29

Total (A) 99.81


Grand Total 100.00


7

Monthly FundUpdate


TMGS Shariah BeESGoldman Sachs CNX Nifty Shariah Index ExchangeTraded SchemeAn Open-Ended Exchange Listed Index Scheme

The investment objective of GS Shariah BeES is to provide returns that, before


represented by the CNX Nifty Shariah Index by investing in securities which are

constituents of CNX Nifty Shariah Index in the same proportion as in the index.

Investors to note that GS Shariah BeES is not a Shariah compliant scheme.



Gauri Sekaria

In managing this fund : Since January 18, 2013, total experience : 8 Yrs


Returns for one year are absolute. Returns for more than one year are compounded annualized. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details




^Sharpe ratio 0.13 Annualized


CNX Nifty Shariah Index Facts


P/E multiple 18.5

P/B multiple 3.42


(Source: www.nseindia.com)@ - Financial year to date expense ratio to average AUM. For

maximum chargeable expense ratio, please refer to the SID.# - Based on 1 year monthly data history.^ - Risk free returns based on 364-days T-bill cut-off of 9.0046% as






GS Shariah BeES 18.37 11837 12.35 11235 -19.65 8035 18.36 22424$

Benchmark 18.13 11813 11.31 11131 -19.98 8002 17.73 21859

Total Returns Index 19.71 11971 13.38 11338 -19.05 8095 19.32 23311$$

Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 18.50 22557

$ CNX Nifty Shariah Index, $$ CNX Nifty Index

(A) Equity

Listed

Reliance Industries Ltd Petroleum Products 20.23

Tata Consultancy Software 17.86

Services Ltd

HCL Technologies Ltd Software 6.47

Wipro Ltd Software 6.00

Hindustan Unilever Ltd Consumer Non Durables 5.98

Dr. Reddy's Laboratories Ltd Pharmaceuticals 5.66


Bajaj Auto Ltd Auto 4.01

Lupin Ltd Pharmaceuticals 3.65

Hero MotoCorp Ltd Auto 3.64


Asian Paints Ltd Consumer Non Durables 3.30

Maruti Suzuki India Ltd Auto 3.23

Cipla Ltd Pharmaceuticals 3.00

UltraTech Cement Ltd Cement 2.88

GAIL (India) Ltd Gas 2.56


Ambuja Cements Ltd Cement 1.98

ACC Ltd Cement 1.59

Total (A) 99.34


Grand Total 100.00


Minimum investmentDirectly with fund - Creation/redemption in exchange of Portfolio Deposit and Cash Component in creation unit size of 10,000 units and in multiples thereafter. On the exchange - 1 unit & in multiples of 1 unit thereafter.

Allotment date March 18, 2009

Average AUM for the month ` Cr.

Benchmark index CNX Nifty Shariah Index

NAV ` 146.9261


Exchange listed NSE

NSE symbol SHARIABEES

BSE code 590109

ISIN INF732E01128

Bloomberg code SBEES:IN Equity

Reuters code SBET.NSthPricing (per unit) 1/10 of Index

0.76

Last Change in CNX Nifty Shariah Index

The following companies has been Included from the Shariah w.e.f. October 21, 2013:

CNX Nifty

No. Company name

1. Wipro Ltd

8

Monthly FundUpdate



2.04%

2.56%

5.27%

6.45%

9.28%

10.88%

12.31%

20.23%

30.33%

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


Gas

Telecom-Services

Cement

Consumer Non Durables

Auto

Pharmaceuticals

Petroleum Products

Software

FactsheetTMGS Hang Seng BeESGoldman Sachs Hang Seng Exchange Traded SchemeAn Open-Ended, Exchange Listed Index Scheme investing in foreign securities

The investment objective of GS Hang Seng BeES is to provide returns

that, before expenses, closely correspond to the total returns of

securities as represented by Hang Seng Index of Hang Seng Data

Services Limited, by investing in the securities in the same proportion

as in the index.



Vishal Jain (For foreign securities)

In managing this fund : Since allotment

date, total experience : 17 Yrs


Returns for one year are absolute. Returns for more than one year are compounded annualized. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details



Benchmark index Hang Seng Index

NAV ` 1984.0892


Exchange listed NSE

NSE symbol HNGSNGBEES

BSE code 590113

ISIN INF732E01227

Bloomberg code HSBEES IN Equity

Reuters code HNGS.NS thPricing (per unit) 1/100 of Index




^Sharpe ratio 0.32 Annualized



Hang Seng Index Facts


P/E multiple 10.98


(Source: Hang Seng Indexes Company Ltd)








GS Hang Seng BeES 18.36 11836 30.33 13033 -2.60 9740 13.78 16368$Benchmark 2.87 10287 22.91 12291 -19.97 8003 2.50 10990

Total Returns Index (INR) 19.64 11964 31.87 13187 -1.88 9812 14.77 16916$$Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 5.70 12357

$ Hang Seng Index, $$ CNX Nifty Index

Fund Manager


Payal Kaipunjal (For debt securities)



(A) EquityListedHSBC Holdings Plc Financials 14.76Tencent Holdings Ltd Information Technology 9.37AIA Group Ltd Financials 6.17China Construction Bank Financials 6.06CorporationChina Mobile Ltd Telecommunications 6.01Industrial & Commercial Financials 4.36Bank of China LtdBank of China Ltd Financials 3.50CNOOC Ltd Energy 3.07Hutchison Whampoa Ltd Conglomerates 3.01Galaxy Entertainment Consumer Services 2.44Group LtdChina Petroleum & Energy 2.37Chemical CorporationPetrochina Co. Ltd Energy 2.33Cheung Kong (Holdings) Ltd Properties & Construction 2.28China Life Insurance Co. Ltd Financials 2.28Sands China Ltd Consumer Services 2.12Sun Hung Kai Properties Ltd Properties & Construction 1.79Hong Kong Exchanges & Financials 1.78Clearing Ltd Ping An Insurance (Group) Financials 1.73Co. of China LtdCLP Holdings Ltd Utilities 1.55Hang Seng Bank Ltd Financials 1.30Hong Kong & China Utilities 1.30Gas Co. LtdPower Assets Holdings Ltd Utilities 1.21BOC Hong Kong Financials 1.18(Holdings) Ltd Want Want China Consumer Goods 1.16Holdings LtdChina Overseas Land & Properties & Construction 1.15Investment LtdThe Wharf (Holdings) Ltd Properties & Construction 1.11China Shenhua Energy Energy 0.97Co. Ltd

Instrument Industry* Weightage (%)

Hengan InternationalGroup Co. Ltd China Unicom (Hong Kong) Telecommunications 0.83LtdLi & Fung Ltd Consumer Goods 0.80Lenovo Group Ltd Information Technology 0.76Swire Pacific Ltd A Conglomerates 0.75Hang Lung Properties Ltd Properties & Construction 0.65Kunlun Energy Company Energy 0.60LtdBelle International Consumer Goods 0.60Holdings Ltd Bank of East Asia Ltd Financials 0.60Bank of Communications Financials 0.59Co. LtdTingyi (Cayman Islands) Consumer Goods 0.57Holding Corp.Henderson Land Properties & Construction 0.55Development Co. LtdMTR Corporation Ltd Consumer Services 0.55New World Development Properties & Construction 0.51Co. Ltd China Resources Land Ltd Properties & Construction 0.48China Resources Power Utilities 0.48Holdings Co. LtdSino Land Co. Ltd Properties & Construction 0.44China Merchants Holdings Industrials 0.42(International) Co. Ltd China Resources Consumer Services 0.35Enterprise Ltd Cathay Pacific Airways Ltd Consumer Services 0.25CITIC Pacific Ltd Conglomerates 0.25COSCO Pacific Ltd Industrials 0.24China Coal Energy Co. Ltd Energy 0.22UnlistedNew World Development Properties & Construction 0.00Co. Ltd - RightsTotal (A) 98.76(B) Other Current Assets 1.24Grand Total 100.00

Consumer Goods 0.91

Instrument Industry* Weightage (%)

9

* - The Industry Classification is as per Hang Seng Indexes Company Ltd

Minimum investment


Last Change in Hang Seng Index

The following company has been excluded from the Hang Seng Index w.e.f. June 17, 2013:

The following company has been included in the Hang Seng Index w.e.f. June 17, 2013:


1. Esprit Holdings Ltd Group Ltd

1. Galaxy Entertainment

Monthly FundUpdate


0.66%

4.01%

4.05%

4.54%

5.71%

6.83%

8.97%

9.56%

10.13%

44.29%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Industrials

Conglomerates

Consumer Goods

Utilities

Consumer Services

Telecommunications

Properties & Construction

Energy

Information Technology

Financials

FactsheetTMGS Infra BeESGoldman Sachs Infrastructure Exchange Traded Scheme

An Open-Ended Exchange Listed Index Scheme

The investment objective of GS Infra BeES is to provide returns that, before


represented by the CNX Infrastructure Index by investing in the securities in the

same proportion as in the index.



Gauri Sekaria

In managing this fund : Since January 18, 2013, total experience : 8 Yrs



Scheme Details

Allotment date September 29, 2010


Benchmark index CNX InfrastructureIndex

NAV ` 232.2556


Exchange listed NSE

NSE symbol INFRABEES

ISIN INF732E01268

Bloomberg code IBEES IN Equity

Reuters code IFRB.NSthPricing (per unit) 1/10 of Index






Industry Allocation as on February 28, 2014 CNX Infrastructure Index Facts


P/E multiple 16.12

P/B multiple 1.78










GS Infra BeES -3.75 9625 21.81 12181 -38.55 6145 -11.74 6658$Benchmark -4.16 9584 21.65 12165 -38.54 6146 -11.72 6662

Total Returns Index -2.79 9721 23.04 12304 -37.98 6202 -10.78 6897$$Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 1.57 10522

$ CNX Infrastructure Index, $$ CNX Nifty Index

Last Change in CNX Infrastructure Index

The following company has been excluded from the CNX Infrastructure Index w.e.f. December 06, 2013:

No. Company name

1. Punj Lloyd Ltd

(A) Equity

Listed

Larsen & Toubro Ltd Construction Project 33.94


NTPC Ltd Power 8.70

Power Grid Corporation of Power 7.82India Ltd


Tata Power Company Ltd Power 4.74

Idea Cellular Ltd Telecom - Services 3.91

Adani Ports & Special Transportation 3.25Economic Zone Ltd

Reliance Communications Ltd Telecom - Services 2.80

Siemens Ltd Industrial Capital Goods 2.07

Jaiprakash Associates Ltd Construction 1.92

Reliance Infrastructure Ltd Power 1.85

Crompton Greaves Ltd Industrial Capital Goods 1.75


Reliance Power Ltd Power 1.63

NHPC Ltd Power 1.17

Voltas Ltd Construction Project 1.16

CESC Ltd Power 1.08

GMR Infrastructure Ltd Construction Project 0.86

JSW Energy Ltd Power 0.77

Tata Communications Ltd Telecom - Services 0.74

PTC India Ltd Power 0.56

Adani Power Ltd Power 0.46

Jaiprakash Power Ventures Ltd Power 0.43

IRB Infrastructure Construction 0.37Developers Ltd

Total (A) 99.80


Grand Total 100.00


10

Minimum investment


Monthly FundUpdate


2.29%

3.25%

8.80%

20.31%

29.21%

35.95%

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

Construction

Transportation


Telecom -Services

Power

Construction Project

FactsheetTMGS Liquid BeESGoldman Sachs Liquid Exchange Traded Scheme

An Open-Ended Liquid Exchange Traded Scheme

The investment objective of GS Liquid BeES is to seek to provide current

income, commensurate with relatively low risk while providing a high level of

liquidity, primarily through a portfolio of treasury bills, Government Securities,

Call Money, Collateralised Lending and Borrowing Obligation (CBLO)/similar

instruments, Repos and Reverse Repos and other Money Market Instruments.



Siddharth Deb

In managing this fund : Since November 23, 2012, total experience : 7 Yrs


# Returns are based on Gross Dividend per unit declared by the Fund for the respective period of the performance shown above. Actual dividend in the hands of each investor will vary based on category and rate of dividend distribution tax applicable thereon. Returns for less than one year are simple annualized. Returns for one year are absolute. Returns for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of above mentioned period as at the end of that period scheme performance. Additional benchmark for Liquid scheme - source : CRISIL. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details

Allotment date July 08, 2003


Benchmark index CRISIL Liquid Fund Index

NAV ` 1000.0000


Exchange listed NSE

NSE symbol LIQUIDBEES

BSE code 590096

ISIN INF732E01037

Bloomberg code LBEES:IN

Reuters code LBES.NS

Face value ` 1000 Per Unit

Total expense ratio@year to date

Standard deviation 0.20% Annualized^Modified duration

^Average maturity 4.11 Days

0.60% Annualized

4.11 Days


^ - As on February 28, 2014.


India Ratings & Research Pvt. Ltd. (earlier known as Fitch Ratings India Pvt. Ltd.) has assigned

Credit Rating of IND A1+mfs* to GS Liquid BeES.

India Ratings & Research Pvt. Ltd.s ratings are not a recommendation or suggestion, directly or indirectly, to investor, to buy, sell, make or hold any investment or security or to undertake any investment strategy with respect to any investment or security or any issuer.

* - a) Past performance is no guarantee of future result. b) IND A1+mfs - It reflects scheme has very strong degree of safety regarding timely receipt of payments from the investments made. c) Rating assigned on November 5, 2013.

Ratings Assigned to GS Liquid BeES

Instrument Weightage (%)

11

Minimum investment

Directly with fund - 1) Creation/redemption in exchange of Portfolio Deposit and Cash Component in creation unit size of 2,500 units and in multiples of 1 unit thereafter. 2) MFSS & BSE StAR - For subscription, minimum amount of ` 1 & in multiples thereof. For redemption, minimum of 0.001 units & in multiples thereof. On the exchange - 1 unit & in multiples of 1 unit thereafter.

(A) CBLO, Cash & Other Current Assets 97.96

(B) Deposits Placed With National Securities Clearing Corporation Ltd 2.04

Grand Total 100.00

Dec. 31, 2012 to Dec. 31, 2011 to Dec. 31, 2010 to Since Inception Particulars 7 Days 15 Days 1 Month

Dec. 31, 2013 Dec. 31, 2012 Dec. 31, 2011

Simple PTP Simple PTP Simple PTP Absolute PTP Absolute PTP Absolute PTP CAGR PTPAnnualised Returns Annualised Returns Annualised Returns Returns Returns Returns Returns Returns Returns Returns Returns

(%) (INR) (%) (INR) (%) (INR) (%) (INR) (%) (INR) (%) (INR) (%) (INR)#GS Liquid BeES 8.08 10808 8.12 10812 7.46 10746 7.45 10745 7.48 10748 7.57 10757 4.90 16511

$Benchmark 5.60 10560 7.19 10719 8.68 10868 9.03 10903 8.54 10854 8.15 10815 6.50 19355$$Additional Benchmark 7.91 10791 7.59 10759 6.62 10662 5.86 10586 8.11 10811 6.42 10642 5.35 17281

$ CRISIL Liquid Fund Index, $$ CRISIL 1 Year T-Bill Index

Monthly FundUpdate


FactsheetTMGS Gold BeESGoldman Sachs Gold Exchange Traded Scheme

An Open-Ended Gold Exchange Traded Scheme

The investment objective of GS Gold BeES is to provide returns that, before

expenses, closely correspond to the returns provided by domestic price of gold

through physical gold.



Vishal Jain



Returns for one year are absolute. Returns for more than one year are compounded annualized. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.

For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details


Average AUM for the month ` 2,383.83 Cr.

Benchmark index Domestic Price of Gold

NAV ` 2753.2055


Exchange listed NSE

NSE symbol GOLDBEES

BSE Code 590095

ISIN INF732E01102

Bloomberg code GBEES:IN EQUITY

Reuters code GBES.NS

Pricing (per unit) Approximately 1 gramof Gold

Minimum investment





# - Based on 1 year monthly data history.





GS Gold BeES -14.08 8592 10.91 11091 30.32 13032 15.28 26382$Benchmark -13.17 8683 12.12 11212 32.21 13221 16.46 28283

$ Domestic Price of Gold


(A) GOLD 99.57


Grand Total 100.00

12

Monthly FundUpdate


FactsheetGoldman Sachs India Equity FundAn Open-Ended Equity Scheme

The investment objective of Goldman Sachs India Equity Fund

is to seek to generate long-term capital growth from an

actively managed portfolio primarily of equity and equity

related securities.

Investment Objective

Scheme Details



$ - Please refer to the SIP enrollment form for terms and conditions before enrolment.


Instrument Industry Weightage (%)Instrument Industry Weightage (%)

(A) EquityListedInfosys Ltd Software 7.40HDFC Bank Ltd Banks 6.10ICICI Bank Ltd Banks 5.82HCL Technologies Ltd Software 4.36ITC Ltd Consumer Non Durables 3.47Bajaj Finance Ltd Finance 2.53Axis Bank Ltd Banks 2.34IndusInd Bank Ltd Banks 2.30Bosch Ltd Auto Ancillaries 2.11Oracle Financial Services Software 2.02Software LtdTech Mahindra Ltd Software 1.81Grasim Industries Ltd Cement 1.76Repco Home Finance Ltd Finance 1.74Maruti Suzuki India Ltd Auto 1.72Thermax Ltd Industrial Capital Goods 1.60Titan Company Ltd Consumer Durables 1.56Divi's Laboratories Ltd Pharmaceuticals 1.56Lupin Ltd Pharmaceuticals 1.54Hero MotoCorp Ltd Auto 1.53Siemens Ltd Industrial Capital Goods 1.40NIIT Technologies Ltd Software 1.39Tata Steel Ltd Ferrous Metals 1.37Balkrishna Industries Ltd Auto Ancillaries 1.37Pidilite Industries Ltd Chemicals 1.23Just Dial Ltd Software 1.22IPCA Laboratories Ltd Pharmaceuticals 1.21Alembic Pharmaceuticals Ltd Pharmaceuticals 1.20United Spirits Ltd Consumer Non Durables 1.19VST Industries Ltd Consumer Non Durables 1.19Muthoot Finance Ltd Finance 1.18Bajaj Holdings & Finance 1.14Investment LtdeClerx Services Ltd Software 1.12Sobha Developers Ltd Construction 1.09Prestige Estates Projects Ltd Construction 1.05Eicher Motors Ltd Auto 1.05Voltas Ltd Construction Project 1.01The Ramco Cements Ltd Cement 0.98Kaveri Seed Company Ltd Consumer Non Durables 0.98Coal India Ltd Minerals/Mining 0.97

Multi Commodity Exchange Finance 0.95of India LtdBlue Dart Express Ltd Transportation 0.93Bata India Ltd Consumer Durables 0.93Cadila Healthcare Ltd Pharmaceuticals 0.91Century Textiles & Cement 0.85Industries LtdBritannia Industries Ltd Consumer Non Durables 0.85SKF India Ltd Industrial Products 0.84Bajaj Auto Ltd Auto 0.84Natco Pharma Ltd Pharmaceuticals 0.83Gujarat Mineral DevelopmentMinerals/Mining 0.77Corporation LtdSiti Cable Network Ltd Media & Entertainment 0.76Tata Consultancy Software 0.75Services LtdSun TV Network Ltd Media & Entertainment 0.75Gillette India Ltd Consumer Non Durables 0.74Nestle India Ltd Consumer Non Durables 0.74Tata Global Beverages Ltd Consumer Non Durables 0.72Alstom T&D India Ltd Industrial Capital Goods 0.71Emami Ltd Consumer Non Durables 0.70Info Edge (India) Ltd Software 0.69Dewan Housing Finance Finance 0.68Corporation LtdAstraZeneca Pharma Pharmaceuticals 0.63India LtdCRISIL Ltd Finance 0.63Firstsource Solutions Ltd Software 0.61Oberoi Realty Ltd Construction 0.58Procter & Gamble Hygiene & Consumer Non Durables 0.55Health Care LtdHousing Development Finance 0.55Finance Corporation LtdKolte - Patil Developers Ltd Construction 0.55Puravankara Projects Ltd Construction 0.54Agro Tech Foods Ltd Consumer Non Durables 0.49KSK Energy Ventures Ltd Power 0.48Reliance Industries Ltd Petroleum Products 0.48INOX Leisure Ltd Media & Entertainment 0.40Total (A) 99.06(B) CBLO, Cash & Other Current Assets 0.94Grand Total 100.00

13

Fund Manager


Hiren Dasani

In managing this fund : Since June 28, 2013,

total experience : 14 Yrs

Fund Manager


Aman Batra (For foreign securities)



Allotment date

Average AUM for the month

Growth Option ` 49.06 Cr.

Dividend Option ` 47.91 Cr.

Benchmark index CNX 500 Index

NAV

Direct Plan

Growth Option ` 11.65

Dividend Option ` 11.65

Distributor Plan

Growth Option ` 11.58

Dividend Option ` 11.58

Minimum investment amount

For regular investment ` 5,000/- & in multiples of ` 1/- thereafter.

$For SIP investment ` 1,000/- & inmultiples of ` 1/-

thereafter for monthly frequency with

minimum 12installments.

Load Structure (for Regular & SIP Investors)

Entry Load Nil

Exit Load

Redeemed within 1 year 1.00%from date of allotment

Redeemed after 1 year Nilfrom date of allotment

@Total expense ratio year to date

Direct Plan 2.34% Annualized

Distributor Plan 2.78% Annualized


November 7, 2012

Monthly FundUpdate






GS India Equity Fund - Distributor Plan - Growth 7.69 10769 -- -- -- -- 12.86 11490$Benchmark 3.61 10361 -- -- -- -- 6.76 10780

$$Additional Benchmark 6.76 10676 -- -- -- -- 8.18 10944

$ CNX 500 Index, $$ CNX Nifty Index


0.48%0.48%

0.84%0.93%1.01%1.23%1.37%

1.74%1.91%

2.49%3.47%3.59%3.70%3.81%

5.13%7.89%

9.41%11.62%

16.57%21.36%

0% 5% 10% 15% 20% 25%

Petroleum ProductsPower

Industrial ProductsTransportation

Construction ProjectChemicals

Ferrous MetalsMinerals/Mining

Media & EntertainmentConsumer Durables

Auto AncillariesCement

Industrial Capital GoodsConstruction

AutoPharmaceuticals

FinanceConsumer Non Durables

BanksSoftware

FactsheetGoldman Sachs CNX 500 FundAn Open-Ended Index Scheme

The investment objective of Goldman Sachs CNX 500 Fund is to generate capital

appreciation through equity investments by investing in securities which are

constituents of CNX 500 Index in the same proportion as in the index.



Vishal Jain




Scheme Details

#Tracking error 0.22% Annualized@Total expense ratio year to date


Distributor Plan 1.80% Annualized

Standard deviation 15.99 % Annualized#Beta 0.99



CNX 500 Index Facts


P/E multiple 17.93

P/B multiple 2.44





# - Based on 1 year monthly data history.^ - Risk free returns based on 364-days T-bill cut-off of 9.0046% as on

February 18, 2014.






GS CNX 500 Fund - Distributor Plan - Growth 3.36 10336 31.71 13171 -27.26 7274 15.77 20753$Benchmark 3.61 10361 31.84 13184 -27.19 7281 15.16 20215

Total Returns Index 4.82 10482 33.48 13348 -26.40 7360 16.49 21405$$Additional Benchmark 6.76 10676 27.70 12770 -24.62 7538 15.20 20252

$ CNX 500 Index, $$ CNX Nifty Index


(A) EquityListedInfosys Ltd Software 6.39ITC Ltd Consumer Non Durables 6.27Reliance Industries Ltd Petroleum Products 4.55Housing Development Finance 4.42Finance Corporation LtdHDFC Bank Ltd Banks 4.29ICICI Bank Ltd Banks 4.17Tata Consultancy Services Software 4.03LtdLarsen & Toubro Ltd Construction Project 3.13Tata Motors Ltd Auto 2.59Oil & Natural Gas Oil 1.78Corporation LtdSun Pharmaceuticals Pharmaceuticals 1.68Industries Ltd

State Bank of India Banks 1.64Mahindra & Mahindra Ltd Auto 1.55HCL Technologies Ltd Software 1.46Axis Bank Ltd Banks 1.36Wipro Ltd Software 1.35Hindustan Unilever Ltd Consumer Non Durables 1.35Dr. Reddy's Laboratories Ltd Pharmaceuticals 1.27Bharti Airtel Ltd Telecom - Services 1.18Equity Less Than 1% of 44.33CorpusTotal (A) 98.80(B) Other Current Assets 1.20

Grand Total 100.00

14

Allotment date January 06, 2009


Growth Option ` 45.60 Cr.

Dividend Option ` 11.26 Cr.

Benchmark index CNX 500 Index

NAV

Direct PlanGrowth option ` 20.5583Dividend option ` 12.8654

Distributor PlanGrowth option ` 20.4526Dividend option ` 12.7985


For regular investment ` 10,000/- & in multiples of ` 1/-thereafter.

$For SIP investment ` 1,000/- & inmultiples of ` 1/-

thereafter for monthly frequency with

minimum 12installments.

For VIP investment See details below *

Load structure (for Regular & SIP Investors)

Entry load Nil

Exit load

Redeemed within 1 year 1.50%from date of allotment

Redeemed after 1 year from Nildate of allotment

Last Change in CNX 500 Index

The following been excluded from the CNX 500 Index w.e.f. February 28, 2014:

company has The following company has been included in the CNX 500 Index w.e.f. February 28, 2014:

(*) - Nominal Investment Amount - This is the amount which the investor will invest at the time of enrolment for VIP. The nominal amount would be used to calculate target portfolio amount and in the circumstances when market rises in straight line giving the target return, this amount would be the actual amount to be invested.T he minimum nominal amount shall be 2,000/- and in multiples of 1/- thereafter and there is no maximum cap on this amount. Minimum Investment Amount Per Month = 0 (Zero). Maximum Monthly Debit Amount - This amount is the maximum amount which the investor would allow the Fund to debit from their account. There is no upper limit for this amount but the amount shall be higher than the nominal amount. The rate of return to be considered for VIP is 15% per annum, based on which the monthly installments of investments to be invested by the investor would be calculated. Note: Please refer to Scheme Information Document for more details.

Monthly FundUpdate



1. Castrol (India) Ltd 1. Jyothy Laboratories Ltd


0.004%0.01%0.01%0.03%0.03%0.04%0.14%0.19%0.20%0.22%0.24%0.28%0.28%0.31%0.35%0.51%0.51%0.63%0.85%0.90%0.91%1.04%1.08%

1.36%1.46%

1.74%1.84%1.89%

2.40%2.71%2.87%

3.50%5.31%

6.92%7.10%

7.75%11.84%

15.62%15.73%

0% 5% 10% 15% 20%

Engineering ServicesDiversified Consumer Services

HardwareTextiles-Cotton

Textiles -SyntheticPaper

RetailingHotels

ServicesFertilisers

Telecom -Equipment & AccessoriesHealthcare Services

PesticidesTextile Products

TradingChemicals

Media & EntertainmentNon -Ferrous Metals

GasTransportation

Consumer DurablesIndustrial Products

ConstructionAuto Ancillaries

Industrial Capital GoodsMinerals/MiningFerrous Metals

Telecom -ServicesCement

OilPower

Construction ProjectPetroleum Products

AutoPharmaceuticals

FinanceConsumer Non Durables

SoftwareBanks

FactsheetGoldman Sachs Short Term FundAn Open-Ended Debt Scheme

The investment objective of the scheme is to enhance returns with minimum

risk by investing in a portfolio of money market and debt instruments while

maintaining the safety and liquidity.



In managing this fund : Since November 23, 2012, total experience : 7 Yrs

Siddharth Deb


Returns for one year are absolute. Returns for more than one year are compounded annualized. Distribution taxes are excluded while calculating the returns. In case, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for Debt schemes - source : CRISIL. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.For the performance of other schemes managed by the same fund manager please refer to page 16.

Scheme Details



^ - As on February 28, 2014.





GSSTF - Distributor Plan - Growth 7.60 10760 7.66 10766 6.64 10664 7.03 12609$Benchmark 9.03 10903 8.54 10854 8.15 10815 8.32 13134

$$Additional Benchmark -0.68 9932 10.67 11067 1.91 10191 4.20 11507

$ Crisil Liquid Fund Index, $$ Crisil 10 Year Gilt Index


CBLO, Cash & Other Current Assets 100.00

Grand Total 100.00

15

Monthly FundUpdate

Allotment date August 04, 2010


Growth option ` 5.47 Cr.

Dividend reinvestment ` 0.04 Cr.option-Daily

Dividend reinvestment ` 1.60 Cr.option-Weekly

Benchmark index CRISIL Liquid Fund Index

NAV

Direct Plan

Growth option ` 12.7956

Dividend reinvestment ` 10.0000option-Daily

Dividend reinvestment ` 10.0000option-Weekly

Distributor Plan

Growth option ` 12.7607

Dividend reinvestment ` 10.0000option-Daily

Dividend reinvestment ` 10.0000option-Weekly



For regular investment ` 10,000/- & in multiples of ` 1/-

thereafter. $For SIP investment ` 1,000/- & in

multiples of ` 1/- thereafter for monthly

frequency with minimum 12 installments.

Standard deviation 0.23 % Annualized@Total expense ratio year to date


Distributor Plan 0.60% Annualized^Modified duration 3 Days

^Average maturity 3 Days


FactsheetComparative Performanceof all schemes

16

Monthly FundUpdateAll data as of December 31, 2013

Schemes Managed by Vishal Jain

Schemes Managed by Payal Kaipunjal

Schemes Managed by Gauri Sekaria

Schemes Managed by Hiren Dasani & Aman Batra

Schemes Managed by Siddharth Deb

Scheme Name December 31, 2012 to December 31, 2013 December 31, 2012 December 31, 2011 Date


GS Nifty BeES 7.88 10788 29.10 12910 -23.87 7613 17.75 71258 28-Dec-2001@CNX Nifty Index (Benchmark) 6.76 10676 27.70 12770 -24.62 7538 16.24 60979

CNX Nifty Total Returns Index 8.07 10807 29.43 12943 -23.81 7619 18.00 73071

GS Bank BeES -7.70 9230 58.42 15842 -31.89 6811 18.44 50806 27-May-2004

CNX Bank Index (Benchmark) -8.73 9127 56.54 15654 -32.42 6758 16.96 45008

CNX Bank Total Returns Index -7.69 9231 58.44 15844 -31.75 6825 18.72 51973@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 15.45 39738

GS Gold BeES -14.08 8592 10.91 11091 30.32 13032 15.28 26382 8-Mar-2007

Domestic Price of Gold (Benchmark) -13.17 8683 12.12 11212 32.21 13221 16.46 28283

GS CNX 500 Fund - Distributor 3.36 10336 31.71 13171 -27.26 7274 15.77 20753 6-Jan-2009Plan - Growth

CNX 500 Index (Benchmark) 3.61 10361 31.84 13184 -27.19 7281 15.16 20215

CNX 500 Total Returns Index 4.82 10482 33.48 13348 -26.40 7360 16.49 21405@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 15.20 20252

GS Hang Seng BeES 18.36 11836 30.33 13033 -2.60 9740 13.78 16368 9-Mar-2010

Hang Seng Index (Benchmark) 2.87 10287 22.91 12291 -19.97 8003 2.50 10990

Hang Seng Total Returns Index (INR) 19.64 11964 31.87 13187 -1.88 9812 14.77 16916@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 5.70 12357

GS Junior BeES 5.13 10513 48.80 14880 -31.64 6836 22.89 93905 21-Feb-2003

CNX Nifty Junior Index (Benchmark) 4.81 10481 48.08 14808 -31.87 6813 22.71 92400

CNX Nifty Junior Total Returns Index 6.03 10603 49.84 14984 -31.11 6889 24.41 107345@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 17.77 59129

GS PSU Bank BeES -28.56 7144 44.20 14420 -41.07 5893 1.07 10680 25-Oct-2007

CNX PSU Bank Index (Benchmark) -30.44 6956 40.63 14063 -41.82 5818 -0.46 9720

CNX PSU Bank Total Returns Index -28.71 7129 43.50 14350 -40.87 5913 1.55 10999@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 2.02 11320

GS Hang Seng BeES 18.36 11836 30.33 13033 -2.60 9740 13.78 16368 9-Mar-2010

Hang Seng Index (Benchmark) 2.87 10287 22.91 12291 -19.97 8003 2.50 10990

Hang Seng Total Returns Index (INR) 19.64 11964 31.87 13187 -1.88 9812 14.77 16916@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 5.70 12357

GS Shariah BeES 18.37 11837 12.35 11235 -19.65 8035 18.36 22424 18-Mar-2009

CNX Nifty Shariah Index 18.13 11813 11.31 11131 -19.98 8002 17.73 21859

(Benchmark)

CNX Nifty Shariah 19.71 11971 13.38 11338 -19.05 8095 19.32 23311

Total Returns Index@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 18.50 22557

GS Infra BeES -3.75 9625 21.81 12181 -38.55 6145 -11.74 6658 29-Sep-2010

CNX Infrastructure Index (Benchmark) -4.16 9584 21.65 12165 -38.54 6146 -11.72 6662

CNX Infrastructure Total Returns Index -2.79 9721 23.04 12304 -37.98 6202 -10.78 6897@CNX Nifty Index 6.76 10676 27.70 12770 -24.62 7538 1.57 10522

GS India Equity Fund - Distributor Plan - Growth 7.69 10769 -- -- -- -- 12.86 11490 07-Nov-2012

CNX 500 Index 3.61 10361 -- -- -- -- 6.76 10780@CNX Nifty Index 6.76 10676 -- -- -- -- 8.18 10944

GSSTF - Distributor Plan - Growth 7.60 10760 7.66 10766 6.64 10664 7.03 12609 4-Aug-2010

CRISIL Liquid Fund Index (Benchmark) 9.03 10903 8.54 10854 8.15 10815 8.32 13134@CRISIL 10 Year Gilt Index -0.68 9932 10.67 11067 1.91 10191 4.20 11507

Dec. 31, 2012 to Dec. 31, 2011 to Dec. 31, 2010 to Since Inception Allotm-Scheme Name 7 Days 15 Days 1 Month

Dec. 31. 30, 2013 Dec. 31, 2012 Dec. 31, 2011 ent Date

Simple PTP Simple PTP Simple PTP Absolute PTP Absolute PTP Absolute PTP CAGR PTPAnnualised Returns Annualised Returns Annualised Returns Returns Returns Returns Returns Returns Returns Returns Returns

(%) (INR) (%) (INR) (%) (INR) (%) (INR) (%) (INR) (%) (INR) (%) (INR)

GS Liquid BeES 8.08 10808 8.12 10812 7.46 10746 7.45 10745 7.48 10748 7.57 10757 4.90 16511 8-Jul-2003

CRISIL Liquid Fund Index 5.60 10560 7.19 10719 8.68 10868 9.03 10903 8.54 10854 8.15 10815 6.50 19355

(Benchmark)@CRISIL 1 Year T-Bill Index 7.91 10791 7.59 10759 6.62 10662 5.86 10586 8.11 10811 6.42 10642 5.35 17281

Returns for one year are absolute. Returns for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns.

Bonus declared has been adjusted. Incase, the start/end date of the concerned period is non business date (NBD), the NAV of the previous date is considered for computation of returns. Point to Point (PTP) returns in INR

is based on standard investment of INR 10,000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity schemes - source : National Stock Exchange of

India. Additional benchmark for Debt schemes - source : CRISIL. For GS Liquid BeES - Returns are based on Gross Dividend per unit declared by the Fund for the respective period of the performance shown above. Actual

dividend in the hands of each investor will vary based on category and rate of dividend distribution tax applicable thereon. Returns for less than one year are simple annualized. Returns for one year are absolute. Returns

for more than one year are compounded annualized. Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. Additional benchmark for Liquid scheme -

source : CRISIL. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. @Represents Additional Benchmark.

December 31, 2011 to December 31, 2010 to Since Inception Allotment

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Factsheet

INVESTMENT MANAGER

Goldman Sachs Asset

Management (India) Pvt. Ltd.

951 - A, Rational House, Appasaheb Marathe Marg,

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Phone: +91 22 6616 9000

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Email: [email protected]

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Toll Free Number: 1800-266-1220

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951 - A, Rational House,

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Phone: +91 22 6616 9000

Fax: +91 22 6616 9001

CUSTODIAN

For GS Nifty BeES, GS Junior BeES,

GS Liquid BeES, GS Bank BeES, GS Gold BeES,

GS PSU Bank BeES, GS Shariah BeES,

GS Hang Seng BeES, GS Infra BeES,

Goldman Sach Short Term Fund and


Citibank N.A.

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Phone: +91 22 4029 6228

Fax: +91 22 2653 2205

For Goldman Sachs CNX 500 Fund

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Post Box-1142, Fort,

Mumbai 400001

Phone: +91 22 6670 3000

Fax: +91 22 6670 3901

For GS Gold BeES

The Bank of Nova Scotia.

12/13, Maker Chamber VI,

220, Nariman Point,

Mumbai 400 021

Phone: +91 22 6658 6901/40

Fax: +91 22 2288 1078

Contact us on (toll free) 1800-266-1220 or visit www.gsam.in for more informationFor complaints/ grievance redressal, kindly contact Mr. Rajdeep Basu at [email protected]

Statutory Details: Goldman Sachs Mutual Fund in India has been set up as a trust by Goldman Sachs Asset Management L. P. (liability restricted to seed corpus of 1 lac) with Goldman Sachs Trustee Company (India) Private Limited as the Trustee (Trustee under the IndianTrusts Act 1882) and with Goldman Sachs Asset Management (India) Private Limited as the Investment Manager. The fund offers NAVs, purchases and redemptions on all business days except during the period when there is a book closure.

Mutual fund investments are subject to market risks, read all scheme related documents carefully.

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FactsheetDisclaimers

GS Nifty BeES and GS Shariah BeES are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL"). IISL does not make any representation or warranty, express or implied, to the owners of GS Nifty BeES and GS Shariah BeES or any member of the public regarding the advisability of investing in securities generally or in GS Nifty BeES and GS Shariah BeES. Please read the full Disclaimers in relation to the CNX Nifty Index and CNX Nifty Shariah Index in the Scheme Information Document before investing. The Products on CNX Nifty Junior Index, CNX Bank Index, CNX PSU Bank Index and CNX Infrastructure Index are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL does not make and expressly disclaims any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) regarding the advisability of investing in the products linked to CNX Nifty Junior Index, CNX Bank Index, CNX PSU Bank Index and CNX Infrastructure Index or particularly in the ability of the CNX Nifty Junior Index, CNX Bank Index, CNX PSU Bank Index and CNX Infrastructure Index to track general stock market performance in India.

The Hang Seng Index (the Index) is published and compiled by Hang Seng Indexes Company Limited pursuant to a license from Hang Seng Data Services Limited. The mark and name Hang Seng Index are proprietary to Hang Seng Data Services Limited. Hang Seng Indexes Company Limited and Hang Seng Data Services Limited have agreed to the use of, and reference to, the index by Goldman Sachs Asset Management (India) Pvt. Ltd. in connection with Goldman Sachs Hang Seng Exchange Traded Scheme (GS Hang Seng BeES) (the Product), but neither Hang Seng Indexes Company Limited nor Hang Seng Data Services Limited warrants or represents or guarantees to any broker or holder of the product or any other person (i) the accuracy or completeness of the index and its computation or any information related thereto; or (ii) the fitness or suitability for any purpose of the index or any component or data comprised in it; or (iii) the results which may be obtained by any person from the use of the index or any component or data comprised in it for any purpose, and no warranty or representation or guarantee of any kind whatsoever relating to the index is given or may be implied. The process and basis of computation and compilation of the index and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by Hang Seng Indexes Company Limited without notice. To the extent permitted by applicable law, no responsibility or liability is accepted by Hang Seng Indexes Company Limited or Hang Seng Data Services Limited (i) In respect of the use of and/ or reference to the index by Goldman Sachs Asset Management (India) Pvt. Ltd. in connection with the product; or (ii) for any inaccuracies, omissions, mistakes or errors of Hang Seng Indexes Company Limited in the computation of the index; or (iii) for any inaccuracies, omissions, mistakes, errors or incompleteness of any information used in connection with the computation of the index which is supplied by any other person; or (iv) for any economic or other loss which may be directly or indirectly sustained by any broker or holder of the product or any other person dealing with the product as a result of any of the aforesaid, and no claims, actions or legal proceedings may be brought against Hang Seng Indexes Company Limited and/ or Hang Seng Data Services Limited in connection with the product in any manner whatsoever by any broker, holder or other person dealing with the product. Any broker, holder or other person dealing with the product does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on Hang Seng Indexes Company Limited and Hang Seng Data Services Limited.

For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and Hang Seng Indexes Company Limited and/ or Hang Seng Data Services Limited and must not be construed to have created such relationship. Please read the Scheme Information Documents (SID) and Statement of Additional Information (SAI) carefully before investing. For schemes specific risk factors, please refer SID.

For more details please refer the SID, SAI, Key Information Memorandum and Application Form which are available at the office of the AMC or can be downloaded from www.gsam.in

NSE Disclaimer: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Draft Scheme Information Document . The investors are advised to refer to the Scheme Information Document for the full text of the Disclaimer Clause of NSE

Information gathered & material used in this document is believed to be from reliable sources. However, Goldman Sachs Asset Management (India) Private Limited does not warrant the accuracy, reasonableness and/or completeness of any information.

References to indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only and do not imply that the portfolio will achieve similar results. The index composition may not reflect the manner in which a portfolio is constructed. While an adviser seeks to design a portfolio which reflects appropriate risk and return features, portfolio characteristics may deviate from those of the benchmark.

Past performance does not guarantee future results, which may vary. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.

THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.

Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant.

This material is issued in or from India by Goldman Sachs Asset Management (India) Private Limited (GSAM India)

Confidentiality

No part of this material may, without GSAMs prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.

2014 Goldman Sachs. All rights reserved.

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