KARVY’s

February, 2018

INVESTOR JOURNAL

www.karvyvalue.com

What’s Inside

KARVY’sINVESTOR JOURNAL

Fund of the MonthL&T EMERGING BUSINESSES FUND-REG(G)

The investment objective of the schemeis to generate long-term capital appreciation...February, 2018

Page 04

Market ReviewPage 01

Karvy Investment InsightPage 03

Fund of The MonthPage 04

Readers CornerPage 05

AMC CornerPage 06

Story of The MonthPage 07

SIP PerformancePage 08

Category Average ReturnsPage 09

Fixed Deposits SchemesPage 10

Equity Funds PerformancePage 11

Debt Funds PerformancePage 12

Global Markets at a GlancePage 13

Indices WatchPage 14

Highlights of the Month » SBI has raised its interest rates on bulk deposits by 50-140 bsp,

bulk deposit is considered as Rs 1 Cr in two months. Bank loan grew 11.1% as on January 5 from a year ago.

» Foreign investors have pumped Rs 18000 Cr into capital market this month on expectation of recovery in corporate earnings and unattractive yields.

» LIC mutual fund has launched a daily SIP scheme. This SIP allows investors to invest daily for 22 working days in a month. Investors can invest as low as Rs 300 per day which would be available in 5 equity fund LIC MF equity, LIC MF growth, LIC MF mid cap, LIC infra, LIC MF Index. Investors can put SIPs in hybrid schemes, LIC balanced Fund and LIC MF Monthly Income fund.

» Regulator SEBI has allowed Indian Pepper and Spice trade Association and Rajkot commodity Exchange to ceases operations as commodity derivative bourses after they voluntary decided to exit.

» National stock exchange which is looking to offer trade in commodity derivative such as energy and metal is currently engaging brokers and other market participants for short listing such products with and aim to bring diversification in the segment.

» Fundraising by new offers in the equity segment of the mutual fund (MF) industry hit a 10-year high of Rs 223.33 billion in 2017. The average fund raised per new fund offer (NFO), at nearly Rs 3.8 billion, was also the highest since 2008.

» The growth rate of equity accounts has hit a 10-year high in the current financial year, with nearly 31,000 equity folios being opened a day till December. This is the fourth consecutive year when growth has been reported in folio numbers after a continuous five-year decline since the post-2008 global financial crisis till FY14.

» Currently, the pace of equity folio addition has risen nearly five-fold compared to 2014-15. Currently, at a record high of 49.3 million equity folios, the Rs 22-trillion mutual fund industry is growing its equity investors’ base at a pace last seen during 2007-08.

» PSU banks will be capitalised in 2017-18 through a mix of recapitalisation bonds (Rs 80,000 crore) and direct infusion from budgetary allocations (Rs8,139 crore).

INVESTOR JOURNALFebruary, 2018

Market Review

Show Me the Money, Show Me The Growth

As Finance Minister Arun Jaitley stated, India has gone from being a member of the Fragile 5 to one of the fast growing economies in the world. For the first time, India has made the top 100 list of countries with ease of doing business. GDP growth has been 6.3% for the first half fiscal year 2018 and is targeted to be 7.2% -7.5% for the second half of fiscal 2018.

The Finance Minister announced that a 10% tax would be applicable on long term capital gains on equity shares or units of equity oriented mutual funds above Rs. 1,00,000. However, capital gains made on shares until January 31, 2018 are grandfathered.

What does LTCG really mean in practice? In our context, it refers to any profits earned on investments in equity shares or units of equity oriented mutual funds, if held for a minimum of one year.

Earlier, one would not have to pay any tax whatsoever on such gains made. Post the announcement made during Budget 2018, long term gains that have been earned pre- January 31, 2018 will not be subject to the 10% LTCG tax. Overall, the Union Budget 2018 was not a major market event. If the budget is implemented effectively, there will certainly be long term benefits.

As always, we urge investors to remain rational, think and act long term and stay invested in the market to ride the continuing Indian Growth Story.

1.Foreign Trade: India registered a

merchandise trade deficit of USD 14.88

billion in Dec’17 against USD 10.55

billion in Dec’16, increasing by 41.10%

on Y-o-Y basis.

On an M-o-M basis, the trade deficit

widened by 7.60% from USD 13.83

billion recorded in Nov’17.

The Rupee ranged between Rs.63.93

- Rs.64.54 per USD before closing at

Rs.63.93 per USD in the month of Dec’17,

vis-à-vis Rs.64.43 per USD recorded in

Nov’17.

The country’s merchandise exports

was reported at USD 27.03 billion in

Dec’17 as against USD 24.06 billion

recorded in Dec’16, recording an surge

of 12.36% Y-o-Y.

Non-petroleum exports constituting

around 87% of the total exports, stood

at USD 23.42 billion, recording a Y-o-Y

growth of 10.89% in Dec’17.

2.Inflation:

India’s retail inflation for Dec-17 was at

a 16-month high of 5.21%, as compared

to 4.88% in Nov-17. The latest inflation

print was at par with our estimate

and broadly in line with consensus

estimate.

Supporting to market expectations,

wholesale inflation surprised on the

downside coming in at 3.58% for Dec-

17, lower than 3.93% seen in Nov-17.

Strong disinflationary pressures from

the vegetables component curbed

inflationary momentum. Sequentially,

December WPI fell by -0.52% vis-à-vis an

increase of 0.69% in Nov-17.

3.Index of Industrial Production (IIP):

Challenging to market expectation, IIP

surged to 8.4% in Nov-17 after posting

dull activity ever since demonetization.

In fact, this is the highest increase since

Oct-15, reflecting strength returning

to the Indian economy. Following this

sharp incline, cumulative IIP rose to

3.2% for Apr-Nov period. Along with the

latest reading, Oct-17 IIP was revised

downward to 2.0%.

Among the BSE sectoral indices, S&P BSE IT Index 11.34% , S&P BSE BANKEX Index 7.38%, were the gainers while S&P BSE Mid-Cap Index and S&P BSE Small-Cap Index were at -2.57% and -2.67% were on the lowest side.

Amongst the NSE Sector indices, Nifty Midcap 50 -3.36% NIFTY CONSUMPTION Index -2.31% were the losers where as NIFTY IT Index 11.32% NIFTY FINANCE Index 7.51% were the on the higher side.

It was a good month for the major Asian Indices as Hangseng, Taiwan, Nikkei 225 ended by 9.92% and 4.33%, 1.46%.

All major European indices ended in positive territory with Bovespa BEL-20 going up by 11.14% and 3.36%.

Apart from FII and MF activity, Key domestic data released in the month of January were:

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INVESTOR JOURNALFebruary, 2018

S&P BSE SENSEXDate Close Price Points Diff %age Change

29-Dec-17 34,056.83

1-Jan-18 33,812.75 -244.08 -0.72%

8-Jan-18 34,352.79 540.04 1.60%

15-Jan-18 34,843.51 490.72 1.43%

22-Jan-18 35,798.01 954.50 2.74%

29-Jan-18 36,283.25 485.24 1.36%

6.54%

CNX Nifty IndexDate Close Price Points Diff %age Change

29-Dec-17 10,530.70

1-Jan-18 10,435.55 -95.15 -0.90%

8-Jan-18 10,623.60 188.05 1.80%

15-Jan-18 10,741.55 117.95 1.11%

22-Jan-18 10,966.20 224.65 2.09%

29-Jan-18 11,130.40 164.20 1.50%

5.69%

Sensex & Nifty: (Month Between 29-Dec-2017 to 29-Jan-2018)

MF Activity: (Month Between 01-Jan-2018 to 30-Jan-2018)

EquityDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

1-Jan-18 2,087.61 3,074.88 -987.27

8-Jan-18 2,786.34 2,425.67 360.67

15-Jan-18 3,084.91 2,693.98 390.93

22-Jan-18 2,880.48 3,021.01 -140.53

30-Jan-18 1,448.74 397.88 1,050.86

Jan-18 67,460.90 60,074.50 7,386.40

DebtDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

1-Jan-18 6,885.41 5,509.15 1,376.26

8-Jan-18 6,408.14 6,138.33 269.81

15-Jan-18 4,357.02 3,602.81 754.21

22-Jan-18 6,791.70 2,740.13 4,051.57

30-Jan-18 4,296.16 4,353.58 -57.42

Jan-18 1,33,324.77 1,13,786.04 19,538.73

2

FII Activity: (Month Between 01-Jan-2018 to 30-Jan-2018)

EquityDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

1-Jan-18 832.38 843.68 -11.30

8-Jan-18 5,662.53 5,064.02 598.51

15-Jan-18 5,152.89 5,000.15 152.74

22-Jan-18 6,986.64 5,442.82 1,543.82

30-Jan-18 1,448.74 397.88 1,050.86

Jan-18 131,013.95 117,011.53 14,002.42

DebtDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

1-Jan-18 0 4.28 -4.28

8-Jan-18 2,251.09 1,365.80 885.29

15-Jan-18 1,037.56 1,899.59 -862.03

22-Jan-18 919.71 1,169.70 -249.99

30-Jan-18 4,296.16 4,353.58 -57.42

Jan-18 36,691.45 28,523.41 8,168.04

-----------------------------------------------------------------------------------------------------------------------------------------------------------Source : stcipd.com

INVESTOR JOURNALFebruary, 2018

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What do you seek from an investment?

Mutual Funds Offer You All These

Switch to

Paperless Transactions

Invest Online

Ret

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Div

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Liquidity Managerisk

TaxB

ebefitsFlexibility

INVESTOR JOURNALFebruary, 2018

Associate Connect

Peace of mind and Wealth Creation ideas for long term

Karvy Insights brings to you investment wisdom to help our investors make sound investment decisions and reach their goals faster. These inputs may not help you become wealthy in a short span of time, but they would definitely give you peace of mind and a roadmap for your financial journey.

According to a recent cover story in Fortune, in the past year LinkedIn has emerged as one of the most powerful business tools on the planet. Long considered a repository for digital resumes, the network now reports 225 million members who use LinkedIn to build professional portfolios that showcase their best work, from publications to videos to PowerPoint presentations.

The number of users who log onto LinkedIn at least once a month on desktops alone (excluding mobile) has climbed to 141 million worldwide, according to ComScore, a 37% jump over last year. And it’s not just job hunters who are using LinkedIn. Chances are your clients, and prospective clients like them, are likely among the LinkedIn universe of users.

Creating a LinkedIn profile can help you discover opportunities to ask your clients for referrals and boost your Google search results ranking, allowing prospective clients to find you more easily.

3

Here are 5 things you can do to make LinkedIn work for you:Fill out your entire profile by describing the skills you have demonstrated and results you have achieved.Get involved by joining groups, requesting recommendations and recommending people with whom you’ve worked. Follow news through subscriptions to people, companies and topics that matter to you.Broadcast and share information that illustrates your professional expertise.

Manage your connections with apps that help you keep track of and interact with people you know.

Karvy Investment Insight

INVESTOR JOURNALFebruary, 2018

4

Bond #yield got relief rally today after Government responded by cutting incremental

borrowing; soon v should see #RBI favourable action to sustain lower bond yields thus help in creating sustainable recovery in

growth.

- A Balasubramanian@MFBALA

Credit cards encourage us to spend money that we don’t currently have.

Calendars encourage us to spend time that we don’t currently have.

- Muneeb Ali@muneeb

‘Tweets’ of the Month

Fund of The Month

L&T EMERGING BUSINESSES FUND-REG(G)

Investment Objective:

The investment objective of the Scheme is to generate long-term capital appreciation from a diversifi ed portfolio of predominantly equity and equity related securities, including equity derivatives, in the Indian markets with key theme focus being emerging companies (small cap stocks).

Portfolio:

Top 10 Companies Holdings

Name %age

The Ramco Cements Ltd. 2.4

Carborundum Universal Ltd. 2.2

HEG Ltd. 2.2

Aarti Industries Ltd. 2.2

Rane Holdings Ltd. 2.1

Ipca Laboratories Ltd. 2.0

Coromandel International Ltd. 2.0

AIA Engineering Ltd. 2.0

Lakshmi Machine Works Ltd. 2.0

Syndicate Bank 1.7

Top 10 Sector Wise Holding

Industry Name (%)

Cash and Cash Equivalents 12.6

Chemicals 6.3

Finance - Investment 5.0

Construction - Real Estate 4.4

Engineering - Industrial Equipments 3.7

Logistics 3.7

Bank - Public 3.4

Textile 3.1

Auto Ancillary 3.0

Retailing 2.9

To read the full Information, Click Here

Indicates an increase or decrease or no change in holding since last profile. Indicates an increase or decrease in holding since last portfolio.

INVEST HERE

“Budget summary in

3 lines” Lower class gets Subsidy.!

Upper Class gets Rebates!! Middle class

gets only TV debates.

- Sujit Sharma@Sujitrsharma

Success is the enemy of learning. It can deprive you of the time

and the incentive to start over. Beginner’s mind also needs beginner’s time.

- Naval @naval

A good principle is “Don’t believe everything you read in the

newspapers”

- Ray Dalio@RayDalio

Source : ACE MF

INVESTOR JOURNALFebruary, 2018

Readers Corner

5

HOW TO REDEEM UNITS OF MUTUAL FUNDS (WITHDRAW MONEY)

There are various reasons one want to redeem mutual fund units, for example, achievement of goal amount, getting good returns, not happy with fund performance and so on.

While investing in Mutual fund has been made easier so as redemption too. All the open ended funds can be redeemed at any point be it online or offline. The redeemed amount will be sent to your bank account in t+2 (t= transaction) working days.

If you have redeemed before 2.30 PM you can get the same day’s NAV and if you have redeemed after 2.30 PM, you will get the next day’s NAV.

Redeemable Amount = Units (holdings) * NAV

Now let’s see how you can redeem units -

Offline - If you have invested in conventional way i.e. offline or paper form via Karvy, you can contact us and we will send you redemption form, please fill the form carefully. In the redemption form one needs to fill in details like unit holder’s name, folio number, scheme name including the plan details, and number of units to redeemed (or the redemption amount desired). In addition, all the holders have to sign the Redemption form. The proceeds from the redemption will be credited to the registered bank account of the first named unit holder, and submit it to the nearest Karvy branch or send it to the below address.

There is another way one is redeem offline units is by converting them to online. Using this feature, once your folios are converted online, you can purchase more, sell even switch.

Online - One can redeem online if he has invested online or converted offline units to online.

You just have to login your account and with one click you can redeem your units or withdraw your money invested...

To read the full Article, Click Here

INVESTOR JOURNALFebruary, 2018

AMC Corner

6Courtesy : Kotak Asset Management Company

INVESTOR JOURNALFebruary, 2018

Story of The Month

Once upon a time, a man sold his well to a farmer. Next day,

when the farmer went to draw water from that well, the man

did not allow him to draw the water from it. He said, “I have

sold you the well, not the water, so you cannot draw the water

from the well.”

The farmer became very sad and came to the Emperor’s court.

He described everything to the Emperor and asked for the

justice.

The Emperor called his minister and handed over this case

to him. The Minister called the man who sold the well to the

farmer and asked, “Why don’t you let him use the water from

THE FARMER AND THE WELL

the well?. You have sold the well to the farmer.” The man replied, “Sir, I have sold the well to

the farmer, not the water. He has no right to draw the water from the well.”

The Minister smiled and told him, “Good, but look, since you have sold the well to this farmer,

and you claim that water is yours, then you have no right to keep your water in the farmer’s well.

Either you pay rent to the farmer to keep your water in his well, or you take that out of his well

immediately.”

The man understood that his trick had failed and realised that the Minister has outwitted him.

MORAL OF THE STORY:

Courtesy : Karvy Learning Center

Direct Dil Se…

7

Don’t try to cheat. You will end up paying for it regardless of how smart you think you are.

INVESTOR JOURNALFebruary, 2018

SIP Performance

S&P BSE SENSEXCurrent NAV (`)

3 Year SIP 5 Year SIP

Rs.36000 Rs.60000

Profit-SIP XIRR(%) Profit-SIP XIRR(%)

Large Cap

Tata Equity P/E Fund(G) 138.44 15620.58 25.00 53750.89 25.97

IDFC Focused Equity Fund-Reg(G) 39.56 15312.00 24.56 37401.05 19.52

Axis Focused 25 Fund(G) 25.84 13358.15 21.73 39190.28 20.27

Templeton India Growth Fund(G) 270.77 13125.82 21.39 39755.44 20.51

HDFC Growth Fund(G) 190.44 12904.40 21.06 36259.52 19.04

Multi Cap

Aditya Birla SL Small & Midcap Fund(G) 41.63 17928.99 28.25 65455.87 30.10

L&T Midcap Fund-Reg(G) 144.36 17318.65 27.40 67650.66 30.84

Mirae Asset Emerging Bluechip-Reg(G) 50.41 16909.59 26.83 70335.06 31.73

IDFC Sterling Equity Fund-Reg(G) 55.73 16813.64 26.69 51838.11 25.26

Principal Emerging Bluechip Fund(G) 107.59 15689.59 25.10 61063.75 28.60

Mid Cap & Small Cap

SBI Magnum Comma Fund-Reg(G) 40.82 18536.80 29.09 46092.84 23.06

Aditya Birla SL Pure Value Fund(G) 62.96 18008.07 28.36 68201.05 31.02

Principal Growth Fund(G) 145.80 15868.62 25.36 48379.58 23.95

Mirae Asset Great Consumer Fund-Reg(G) 33.15 15350.09 24.62 45120.43 22.68

Sundaram Rural India Fund(G) 42.35 14804.56 23.83 49359.82 24.32

ELSS

MOSt Focused Long Term Fund-Reg(G) 17.95 16460.91 26.20 0.00 0.00

Principal Tax Savings Fund 214.37 15781.83 25.23 48181.04 23.87

IDFC Tax Advt(ELSS) Fund-Reg(G) 58.16 15357.16 24.63 48085.43 23.84

HDFC Long Term Adv Fund(G) 350.05 13974.96 22.63 40646.15 20.87

L&T Tax Saver Fund(G) 38.33 13614.83 22.10 44715.45 22.52

Sector

DSPBR Natural Res & New Energy Fund-Reg(G) 37.15 23473.39 35.69 66320.72 30.40

L&T Infrastructure Fund-Reg(G) 18.15 19157.11 29.94 62149.73 28.97

IDFC Infrastructure-Reg(G) 18.57 18203.86 28.63 48831.16 24.12

Reliance Diver Power Sector Fund(G) 117.02 17852.85 28.14 48248.70 23.90

ICICI Pru Banking & Fin Serv Fund(G) 61.07 17545.13 27.72 56906.76 27.12

Index

ICICI Pru Nifty Next 50 Index Fund(G) 26.15 13823.60 22.41 44361.91 22.38

IDBI Nifty Junior Index Fund(G) 22.41 12957.94 21.14 41744.82 21.32

HDFC Index Fund-Sensex(G) 307.29 10637.77 17.65 27528.38 15.14

UTI Nifty Index Fund(G) 69.12 10552.76 17.53 28021.64 15.37

SBI Nifty Index Fund-Reg(G) 91.54 10182.29 16.96 26442.31 14.63

As on 02nd Feb’18 (Funds have been arranged on 3 years performance)

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Source : ACE MF

INVESTOR JOURNALFebruary, 2018

Category Average Returns

Category Sub Category1 Week Return

1 Month Return

3 Month Return

6 Month Return

1 Year Return

3 Year Return

5 Year Return

Since Inception

Diversified

Large-cap 0.80 9.08 8.80 17.04 45.27 17.83 23.28 31.07

Mid-cap 1.79 3.60 10.95 19.59 45.24 21.68 30.49 31.17

Multi-cap 0.76 5.24 11.45 21.95 54.95 19.47 31.16 32.42

Small-cap -1.57 -1.33 15.44 31.79 61.95 26.66 36.57 38.10

Sector Funds

Banks & Financial Services -1.21 3.41 2.94 3.82 30.40 12.17 15.89 19.79

Energy & Power -1.40 -0.81 1.61 11.54 30.30 19.08 19.93 17.73

FMCG -2.05 0.67 8.32 15.10 35.22 14.16 17.26 16.83

Infrastructure -1.76 -1.40 3.21 13.09 31.98 12.45 17.78 9.89

Media & Entertainment -1.10 -1.99 8.04 10.68 18.56 7.75 12.12 15.62

Pharma & Health Care -2.86 -1.94 3.08 3.81 3.59 1.16 15.39 11.62

Service Industry -0.75 1.91 5.41 13.70 28.48 12.72 25.66 15.97

TECk -0.84 10.30 20.87 24.40 37.08 8.00 18.25 11.95

Speciality

Contra -1.36 1.31 7.09 14.28 35.27 12.94 18.99 18.02

Dividend Yield -1.54 1.01 2.58 9.20 27.83 11.34 15.80 16.69

Index - Nifty -0.65 4.42 4.60 8.62 26.68 8.93 13.96 12.40

Index - Sensex -0.43 5.80 6.39 9.92 27.81 7.64 13.07 15.62

MNC -0.38 -1.29 6.64 11.68 28.52 11.87 23.63 18.29

Equity Exchange Traded Funds -1.07 3.71 4.37 8.80 26.84 8.66 12.88 14.82

Equity Linked Savings Scheme -1.46 0.43 4.16 9.60 28.50 12.03 18.46 17.78

Arbitrage Funds

Debt-Oriented -0.27 0.47 0.84 1.63 5.92 5.88 7.23 6.42

Equity-Oriented 0.21 0.63 1.70 3.16 6.23 6.51 7.30 6.64

Asset Allocation -0.54 1.57 1.83 3.60 11.64 5.96 7.48 9.47

Balanced Funds

Debt-Oriented -0.30 1.16 1.60 3.53 10.43 5.46 10.48 8.08

Equity-Oriented -0.83 0.91 2.76 6.23 19.00 9.20 15.07 13.40

Category Capital Protection Funds -0.26 0.85 1.26 2.80 8.17 6.57 8.31 7.26

Monthly Income Plans -0.61 -0.22 0.40 2.10 7.49 7.72 9.66 9.07

Fund Of Funds

Debt-Oriented -0.42 0.46 0.65 2.22 8.36 7.66 9.60 9.23

Equity-Oriented -0.67 0.82 1.47 3.55 15.76 10.28 14.32 13.89

Hybrid-Oriented -0.51 1.05 1.87 4.05 13.02 8.60 10.83 11.78

Gold - FOF -0.89 2.61 2.43 5.10 1.50 1.00 -1.92 0.38

Gold Exchange Traded Funds -0.98 3.22 3.10 4.53 1.95 1.56 -1.30 4.30

Income

Long Term -0.63 -0.59 -1.05 -0.60 2.27 6.47 7.54 7.81

Medium Term -0.30 -0.08 -0.05 1.10 4.75 7.57 8.30 7.98

Short Term -0.12 0.13 0.40 1.71 5.06 7.45 8.18 7.87

Gilt

Long Term -1.34 -1.66 -3.01 -3.72 -0.71 6.33 7.91 8.21

Medium Term -0.85 -0.95 -1.62 -1.63 0.56 6.12 7.38 7.68

Short Term -0.27 -0.02 0.07 1.30 4.71 7.79 8.13 6.93

Floating Rate

Long Term Floating Rate -0.19 -0.01 0.09 1.50 5.05 7.85 8.26 7.73

Med Term Floating Rate -0.07 0.19 1.11 3.57 5.36 8.62 8.59 7.85

Short Term Floating Rate 0.05 0.39 1.15 2.77 6.42 7.83 8.41 7.79

Speciality-Debt

Interval Funds - Half Yrly 0.12 0.51 1.53 3.20 6.76 7.51 8.05 8.04

Interval Funds - Monthly 0.12 0.53 1.56 3.12 6.36 7.14 7.88 7.91

Interval Funds - Quarterly 0.12 0.53 1.58 3.17 6.53 7.30 8.03 8.14

Interval Funds - Yearly 0.11 0.49 1.48 3.11 6.62 7.69 8.33 8.05

Liquid 0.12 0.53 1.57 3.15 6.31 7.20 7.90 7.40

Ultra Short Term Plan 0.06 0.37 1.13 2.68 6.07 7.52 8.17 7.49

Returns are as on 02nd Feb’189

Source : ACE MF

INVESTOR JOURNALFebruary, 2018

Fixed Deposits Schemes

FD Name Rating IndustryInterest Rate

* (Up to)

Bajaj Finance Ltd.FAAA by CRISILICRA MAAA

Bajaj Finserv is the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category.

8.20%

DHFL Aashray DepositPlus

CARE AAA FD, BWR FAAA

Dewan Housing Finance Ltd (DHFL) is the second housing finance company to be set up in the private sector in India.

8.25%

Gruh Finance Ltd.MAAA by ICRA, FAAAby CRISIL

GRUH Finance Ltd is subsidiary of HDFC Ltd is housing finance company (HFC) recognized by National Housing Bank.

7.50%

HDFC Ltd.FAAA by CRISIL, MAAA by ICRA

A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 4.9 million customers to own a home of their own. HDFC is the Largest mobiliser of public deposits outside the banking system and the HDFC Group has a strong asset base of over Rs.2.97 trillion and a customer base of over 42.5 million.

7.75%

HUDCO‘tAA+(ind)’ by FITCH, ‘CARE AA+(FD)’ by CARE

HUDCO is a premier techno-financing company set up in 1970 by the Government of India to accelerate the pace of housing and urban development in the country.

7.25%

ICICI Home Finance Ltd

CARE FAAA, ICRA MAAA

ICICI Home Finance Company Limited is one of the leaders in the Indian mortgage finance and realty space.

7.75%

LIC Housing Finance Ltd.

FAAA / STABLE by CRISIL

One of India’s largest housing finance companies, having nation-wide network. Consistent record of dividend payments.

7.70%

Mahindra & Mahindra Financial Services Ltd

CRISIL FAAAMahindra and Mahindra Financial Services Limited (MMFSL) commenced its journey two decades back in the rural non-banking finance industry.

7.80%

PNB Housing Finance Ltd.

FAAA by CRISILPNB Housing Finance (PNBHF) is a subsidiary of Punjab National Bank and a partner of Destimoney Enterprises Pvt. Ltd. PNBHF was incorporated in 1988 and is based in New Delhi.

7.70%

Shriram City Union Finance Ltd.

IND +AA- CARE AA FD

As a deposit-accepting non-banking financial company (NBFC), Shriram City is today India’s premier financial services company specializing in retail finance.

8.25%

Shriram Unnati Deposits

FAAA/Stable by CRISIL, MAA+/Stable by ICRA

With a track record of about 30 years in this business, STFC is among the leading organized finance provider for the commercial vehicle industry

8.25%

Sundaram Home Finance Ltd.

ICRA MAA+Sundaram BNP Paribas Home Finance combines its expertise in Home Finance with the Service Orientiation of its promoter Sundaram Finance.

8.50%

* highest rate including additional interest for Senior citizens, employees etc. wherever applicable

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INVESTOR JOURNALFebruary, 2018

Equity Funds Performance

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Diversified

SBI Small & Midcap Fund-Reg(G) 59.20 56.25 25.27 35.62 23.56

L&T Emerging Businesses Fund-Reg(G) 27.42 41.87 23.74 31.04

Reliance Small Cap Fund(G) 45.01 40.47 21.48 34.30 22.59

DSPBR Micro-Cap Fund-Reg(G) 65.90 22.49 20.19 31.00 19.38

Aditya Birla SL Small & Midcap Fund(G) 41.63 31.41 20.04 26.30 14.15

ELSS

MOSt Focused Long Term Fund-Reg(G) 17.95 28.89 20.09 21.24

Principal Tax Savings Fund 214.37 29.95 13.91 20.27 17.24

L&T Tax Advt Fund-Reg(G) 56.69 29.32 13.89 19.10 15.64

DSPBR Tax Saver Fund-Reg(G) 47.01 20.04 13.23 19.87 15.04

HDFC Long Term Adv Fund(G) 350.05 26.31 12.92 18.37 23.12

Sector

L&T Infrastructure Fund-Reg(G) 18.15 37.40 19.06 22.85 5.92

SBI FMCG Fund-Reg(G) 118.47 39.96 16.94 18.50 18.26

IDFC Infrastructure-Reg(G) 18.57 34.98 16.41 16.73 9.36

Aditya Birla SL Banking & Financial Services Fund-Reg(G) 27.58 25.53 15.96 27.77

ICICI Pru Banking & Fin Serv Fund(G) 61.07 27.52 15.68 21.83 21.09

Dividend Yield

Aditya Birla SL Dividend Yield Plus(G) 178.57 16.82 6.73 13.74 21.20

BNP Paribas Dividend Yield Fund(G) 48.63 25.63 11.86 18.09 13.61

ICICI Pru Dividend Yield Equity Fund(G) 18.16 26.99 12.65 17.39

Principal Dividend Yield Fund(G) 53.12 30.16 12.94 15.29 13.37

Tata Dividend Yield Fund(G) 77.55 16.29 9.66 15.49 16.78

Global

MOSt Shares NASDAQ-100 ETF 433.30 25.81 19.17 24.48 23.28

Franklin Asian Equity Fund(G) 23.26 32.16 13.74 12.22 8.76

Reliance ETF Hang Seng BeES 3208.64 35.70 13.60 13.08 12.79

Reliance Japan Equity Fund(G) 12.88 21.04 10.41 7.63

Aditya Birla SL Intl. Equity Fund-B(G) 18.53 17.87 8.42 12.68 6.19

Equity Index

ICICI Pru Nifty Next 50 Index Fund(G) 26.15 24.88 14.75 19.38 13.46

IDBI Nifty Junior Index Fund(G) 22.41 23.14 13.83 18.45 11.57

UTI Nifty Index Fund(G) 69.12 24.20 7.85 13.07 11.39

HDFC Index Fund-Nifty(G) 96.35 24.03 7.83 13.22 15.44

IDFC Nifty Fund-Reg(G) 21.90 24.12 7.74 13.24 10.62

Equity FOF

DSPBR US Flexible Equity Fund-Reg(G) 18.28 13.77 16.69 16.33

Principal Global Opportunities Fund(G) 31.11 32.17 12.06 7.61 8.52

Franklin India Feeder - Franklin U.S. Opp Fund(G) 25.75 20.15 11.32 17.13 17.09

Aditya Birla SL Financial Planning FOF Aggressive Plan(G) 22.15 16.81 10.12 14.21 12.52

ICICI Pru Long Term Savings Plan(G) 62.43 14.03 8.88 11.93 13.83

(Funds has been arranged on the basis of 3 years performance)

11Source : ACE MF

INVESTOR JOURNALFebruary, 2018

Debt Funds Performance

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Gilt Funds

SBI Magnum Gilt-STP(G) 36.40 5.49 8.82 9.69 7.84

ICICI Pru Gilt-Treasury-PF(G) 25.08 4.72 8.58 6.41 6.80

ICICI Pru Short Term Gilt Fund(G) 43.37 3.79 7.94 8.29 8.27

IDFC G Sec-STP-Reg(G) 24.95 5.48 7.80 9.48 5.91

BNP Paribas Government Securities Fund(G) 14.98 2.42 7.65 8.85

Income

Baroda Pioneer Credit Opp Fund-A(G) 13.27 7.20 9.50 9.78

Franklin India Dynamic Accrual Fund(G) 60.42 7.60 9.17 9.03 8.97

Aditya Birla SL Medium Term Fund(G) 21.63 5.98 8.79 9.78 9.09

DHFL Pramerica Credit Opp Fund-Reg(G) 13.56 6.45 8.77 9.53

HDFC Banking and PSU Debt Fund-Reg(G) 13.84 5.17 8.71 8.79

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Balanced

ICICI Pru Balanced Fund(G) 129.72 17.12 11.72 17.85 15.07

HDFC Balanced Fund(G) 150.44 19.48 11.48 18.65 16.85

L&T India Prudence Fund-Reg(G) 26.32 17.93 11.10 18.00 14.84

Reliance Reg Savings Fund-Balanced Option(G) 55.53 21.45 11.08 16.76 14.50

DSPBR Balanced Fund-Reg(G) 146.48 13.84 10.80 15.29 15.43

MIP

Aditya Birla SL MIP II-Wealth 25(G) 38.20 7.34 9.45 12.76 10.27

SBI Magnum MIP-Floater Plan(G) 25.74 8.04 8.94 10.67 8.07

ICICI Pru MIP 25(G) 39.16 8.95 8.81 11.28 10.35

Sundaram MIP-Aggr Plan(G) 18.95 7.52 8.48 9.86 8.41

UTI MIS Adv Plan(G) 38.88 9.07 8.22 10.84 10.08

Arbitrage

Reliance Arbitrage Advantage Fund(G) 17.65 6.24 6.77 7.52 8.08

L&T Arbitrage Opp Fund-Reg(G) 12.72 6.45 6.72 6.91

Kotak Equity Arbitrage Scheme(G) 24.66 6.32 6.68 7.59 7.58

DHFL Pramerica Arbitrage Fund-Reg(G) 12.56 6.32 6.65 6.86

ICICI Pru Equity-Arbitrage Fund(G) 22.83 5.96 6.63 7.58 7.72

Gold-FOF

Kotak Gold Fund(G) 12.75 6.20 4.01 0.93 3.60

SBI Gold-Reg(G) 9.74 6.03 3.45 1.35 -0.41

Canara Rob Gold Saving Fund-Reg(G) 9.11 5.38 2.90 0.94 -1.65

Reliance Gold Savings Fund(G) 13.01 6.49 2.39 1.38 3.88

HDFC Gold Fund(G) 10.00 6.03 2.36 1.36 0.00

(Funds has been arranged on the basis of 1 year performance)

Hybrid Funds Performance

12Source : ACE MF

INVESTOR JOURNALFebruary, 2018

Global Markets at a Glance

13

Exhibit: Nifty

Exhibit: S&P 500

Exhibit: Euro Stoxx 50

Exhibit: Nikkei

Exhibit: Shanghai

Exhibit: INR

Exhibit: Dollar Index

Exhibit: Eur

Exhibit: JPY

Exhibit: CNY

Exhibit: India 10 Yr Yld %

Exhibit: US 10 Yr Yld %

Exhibit: Germany 10 Yr Yld %

Exhibit: Japan 10 Yr Yld %

Exhibit: China 10 Yr Yld %

Source: Bloomber

104451049510545105951064510695

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5-Ja

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8-Ja

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9-Ja

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10-J

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11-J

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12-J

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4-Ja

n

5-Ja

n

8-Ja

n

9-Ja

n

10-J

an

11-J

an

12-J

an

7.15

7.20

7.25

7.30

7.35

7.40

4-Ja

n

5-Ja

n

8-Ja

n

9-Ja

n

10-J

an

11-J

an

12-J

an

2,680

2,700

2,720

2,740

2,760

2,780

3-Ja

n

4-Ja

n

5-Ja

n

8-Ja

n

9-Ja

n

10-J

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11-J

an

91.491.691.892.092.292.492.6

4-Ja

n

5-Ja

n

8-Ja

n

9-Ja

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10-J

an

11-J

an

2.40

2.45

2.50

2.55

2.60

4-Ja

n

5-Ja

n

8-Ja

n

9-Ja

n

10-J

an

11-J

an

3,540

3,560

3,580

3,600

3,620

3,640

4-Ja

n

5-Ja

n

8-Ja

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9-Ja

n

10-J

an

11-J

an

1.185

1.190

1.195

1.200

1.205

1.210

4-Ja

n

5-Ja

n

8-Ja

n

9-Ja

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10-J

an

11-J

an

0.400

0.450

0.500

0.550

0.600

4-Ja

n

5-Ja

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8-Ja

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9-Ja

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10-J

an

11-J

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22,000

22,500

23,000

23,500

24,000

29-D

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4-Ja

n

5-Ja

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9-Ja

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10-J

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11-J

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109.6

110.4

111.2

112.0

112.8

113.6

4-Ja

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5-Ja

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8-Ja

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9-Ja

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10-J

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11-J

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0.05

0.06

0.07

0.08

0.09

4-Ja

n

5-Ja

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8-Ja

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9-Ja

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10-J

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11-J

an

3,360

3,380

3,400

3,420

3,440

4-Ja

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5-Ja

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8-Ja

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9-Ja

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10-J

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11-J

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6.46

6.48

6.50

6.52

6.54

4-Ja

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5-Ja

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8-Ja

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9-Ja

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10-J

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11-J

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3.88

3.90

3.92

3.94

3.96

4-Ja

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5-Ja

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8-Ja

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9-Ja

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10-J

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11-J

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INVESTOR JOURNALFebruary, 2018

Indices Watch

Index NameAs on

31-Dec-17As on

31-Jan-18%

Change

S&P BSE Capital Goods 19133.76 20363.58 6.43%

S&P BSE BANKEX 28856.77 30986.13 7.38%

S&P BSE Power Index 2381.69 2319.48 -2.61%

S&P BSE PSU 9173.30 9116.57 -0.62%

S&P BSE DOLLEX 30 4380.14 4637.54 5.88%

S&P BSE AUTO Index 26751.20 25945.30 -3.01%

S&P BSE SENSEX 34056.83 35965.02 5.60%

S&P BSE 100 11029.78 11419.07 3.53%

S&P BSE 200 4678.86 4812.21 2.85%

S&P BSE 500 15002.73 15347.19 2.30%

S&P BSE O & G Index 16283.26 16368.16 0.52%

S&P BSE METAL Index 14939.28 15427.36 3.27%

S&P BSE Mid-Cap 17822.40 17364.20 -2.57%

S&P BSE GREENEX 2868.32 2923.23 1.91%

S&P BSE Small-Cap 19230.72 18716.77 -2.67%

S&P BSE TECk Index 6408.23 6831.63 6.61%

S&P BSE Consumer Durables 22689.46 22476.79 -0.94%

S&P BSE IT 11277.81 12556.98 11.34%

S&P BSE Health Care 14799.42 14559.39 -1.62%

S&P BSE FMCG 10695.18 10711.47 0.15%

S&P BSE Realty Index 2608.25 2609.09 0.03%

Indian Indices:

Index NameAs on

31-Dec-17As on

31-Jan-18%

Change

NIFTY FMCG 26851.50 27127.30 1.03%

NIFTY MEDIA 3464.30 3488.90 0.71%

NIFTY COMMODITIES 4087.95 4105.50 0.43%

NIFTY 100 10985.15 11393.55 3.72%

Nifty 500 Shariah index 3231.19 3179.73 -1.59%

NIFTY PSE 4303.25 4288.75 -0.34%

NIFTY DIV OPPS 50 2637.40 2731.25 3.56%

NIFTY FINANCE 10475.15 11262.15 7.51%

NIFTY IT 11665.75 12986.40 11.32%

NIFTY REALTY 346.90 344.70 -0.63%

Nifty Midcap 50 5540.15 5353.95 -3.36%

INDIA VIX 12.67 15.93 25.73%

NIFTY 100 10985.15 11393.55 3.72%

NIFTY SERV SECTOR 13739.15 14672.05 6.79%

NIFTY 50 10530.70 11027.70 4.72%

NIFTY INFRA 3637.50 3619.50 -0.49%

NIFTY PHARMA 9620.10 9384.75 -2.45%

NIFTY METAL 3940.15 4065.85 3.19%

NIFTY PSU BANK 3700.55 3681.75 -0.51%

NIFTY 500 9490.65 9697.90 2.18%

NIFTY 200 5814.10 5979.20 2.84%

NIFTY CONSUMPTION 5104.40 4986.25 -2.31%

NIFTY BANK 25539.45 27379.45 7.20%

NIFTY ENERGY 14249.30 14453.95 1.44%

Global Indices:

Index NameAs on

31-Dec-17As on

31-Jan-18%

Change

Nikkei 225 22764.94 23098.29 1.46%

Taiwan Weighted 10642.86 11103.79 4.33%

Hang Seng 29919.15 32887.27 9.92%

Nasdaq 6903.39 7411.48 7.36%

S&P 500 2673.61 2823.81 5.62%

Dow Jones 24719.22 26149.39 5.79%

NYSE 12808.84 13367.95 4.37%

CAC 40 5312.56 5481.93 3.19%

Straits Times 3402.92 3533.99 3.85%

Bovespa 76402.00 84913.00 11.14%

All Ordinaries 6167.30 6146.50 -0.34%

DisclaimerThe information and views presented in this report are prepared by Karvy Stock Broking Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Stock Broking nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document.

This report is intended for a restricted audience and we are not soliciting any action based on it.

For more information on MUTUAL FUNDS call1800 425 8282 or contact your nearest Karvy branch.

Contact PersonPF/MFNL/05022018/49

Ankit ChoradiaE-mail : ankit.choradia@karvy.com

Phone : 040 3321 7132

Production: Naga Babu K

14

Source : ACE MF