NAV as on June 30, 2009 Dividend : Rs.14.4336 Growth : Rs.25.3460 Statistical Measures (For trailing 3 yrs period) Standard Deviation 34.66% Beta 0.8769 R Squared1 0.9668 Sharpe ratio

www.saharamutual.com



Sahara GROWTH FUNDAn Open-Ended Growth Fund

The objective of the scheme….

is to achieve capital appreciation by investing in equity and equityrelated instruments.

Minimum application Rs.3000/- and additional amount of Rs.500/- and multiples of Re.1/- thereafter.

SYSTEMATIC INVESTMENT PLAN (SIP) - AUTO DEBIT / ECS FACILITY AVAILABLEMonthly SIP Quarterly SIP

Initial cheque of Rs.1000/- and 5 post dated cheques for minimum of Rs.1000/- each Initial cheque of Rs.2000/- and 3 post dated cheques of minimum of Rs.2000/- each

Load Structure: Entry Load < Rs.1 cr : 2.25%; >= Rs.1 cr : Nil

SIP/STP : Entry Load : 2.25%

Exit Load < Rs.1 cr; Nil, >= Rs.1 cr: 1% if redeemed on or before 3 months

Exit Load 1% if redeemed on or before 1 year from date of allotment

GROWTH FundGROWTH Fund

NAV as on June 30, 2009

Dividend : Rs.24.0018 Growth : Rs.63.9692

Performance (%) of the Fund (Growth Option)

Sahara Growth Fund Scheme Returns NIFTY Returns1 Year 19.55 6.203 Years 18.03 11.115 Years 28.88 22.79inception 31.22 23.53

Note: Annualised Returns

Industrywise Asset Distribution (%)

Investment Option

a) Growth b) Dividend Payout & Dividend Reinvestment Option.

Dividend since September 2003

Record Date Rate % of Div Cum Div NAV (Rs.)07.09.2007 Rs. 7.50 paise per unit 75.00% 28.588813.03.2006 Rs. 7.50 paise per unit 75.00% 28.2228.01.2005 Rs. 3 per unit 30.00% 19.5725.09.2003 Rs. 3 per unit 30.00% 14.95

Dividend declared on the face value of Rs.10/-, Past performance may or may not besustained in future

Name Designation Experience (Yrs)

Mr Naresh Kumar Garg Chief Executive Officer 18 (5 yrs. in Sahara Growth Fund)

Mr A N Sridhar Fund Manager 17 (2.5 yrs. in Sahara Growth Fund)

sms GROWTH to 59090

Portfolio as on 30.06.2009

Industry Security Name % of IndustrywiseTotal Total %

EQUITY SHARES

Industrial Capital Goods Asea Brown Boveri Ltd 4.08 16.68

Larsen and Toubro Limited 3.96

Bharat Heavy Electricals Ltd 3.00

Siemens Ltd 2.98

Sterlite Industries Limited 2.65

Power National Thermal Power Corp Ltd 3.94 15.17

Reliance Power 3.26

Tata Power Company Ltd 3.13

Reliance Infrastructrue Ltd 3.02

Suzlon Energy Limited 1.81

Banks State Bank of India 3.19 11.11

ICICI Bank Ltd 3.09

Axis Bank Limited 2.75

Syndicate Bank 2.09

Auto Hero Honda Motors Ltd 3.67 9.82

Bajaj Auto Ltd 3.47

Mahindra & Mahindra Ltd 2.69

Petroleum Products Reliance Industries Ltd 4.40 8.86

Bharat Petroleum Corporation Ltd 2.51

Reliance Petroleum Ltd 1.95

Telecom - Services Idea Cellular Ltd 2.36 6.94

Bharti Airtel Ltd 2.34

Reliance Communication Ventures Ltd 2.25

Oil Oil & Natural Gas Corp 3.11 5.83

Cairn India Ltd 2.71

Consumer Non Durables ITC Limited 4.32 4.32

Construction Jai Prakash Associates Ltd. 3.58 3.58

Gas Gas Authority Of India Ltd 3.08 3.08

Metals Tata Iron & Steel Company Ltd 3.04 3.04

Finance HDFC Ltd 2.51 2.51

Software Infosys Technologies Ltd 2.42 2.42

Cement ACC Ltd 2.34 2.34

Equity Total 95.69 95.69

Current and Other Assets 4.31 4.31

Total 100.00 100.00

Statistical Measures (For trailing 3 years period)Standard Deviation 30.21%Beta 0.8346R Squared 0.9680Sharpe ratio1 0.4718Portfolio Turnover Ratio (%) 304.93

1 Risk Free rate is based on 1 year T-Bill rate.

Date of Inception: 30/08/2002; Total Expenses Ratio (%): 2.48; AUM : 514.53 lakhs; Holding in TOP 10 scrips : 37.87%


Sahara TAX GAIN FUNDAn Open-Ended Equity Linked Saving Scheme (ELSS)


is to provide immediate tax relief and long-term growth of capital byinvesting in equity and equity related instruments.

Minimum application Rs.500/- and additional amount in multiples of Rs.500/-.


6 post-dated cheques for minimum of Rs.500/- each and in multiples of Rs.500/- 4 post-dated cheques for minimum of Rs.500/- each and in multiples of Rs.500/-

Load Structure : Entry Load : 2.25%; Exit Load : Nil

SIP/STP : Entry Load : 2.25%; Exit Load : 1% if redeemed on or before1 year from the date of allotment

TAX-GAIN FundTAX-GAIN Fund


Dividend : Rs.14.4336 Growth : Rs.25.3460

Statistical Measures (For trailing 3 yrs period)Standard Deviation 34.66%Beta 0.8769R Squared1 0.9668Sharpe ratio 0.3205Portfolio Turnover Ratio (%) 289.08



Sahara Tax Gain Fund Scheme Returns BSE 2001 year 21.20 7.483 years 14.89 11.615 years 27.00 22.66Since inception 27.84 14.59

Bonus Declared (Record Date - Aug 29, 2005)

Growth Plan: 7:1 Dividend Plan: 3:1

Investment Option

a) Growth b) Dividend Payout & Dividend Reinvestment Option.

Dividend declared on the face value of Rs.10/-, Past performance may or may not besustained in future.* Post Bonus

Dividend during the year 2005 / 2006 / 2008

Record Date Rate % of Div Cum Div NAV (Rs.)29.03.2008 Rupees 7.5 per unit* 75.00% 20.751524.03.2006 Rupees 2.50 paise per unit* 25.00% 19.404123.03.2005 Rupees 20 per unit 200.00% 66.7519.01.2005 Rupees 10 per unit 100.00% 70.61



Mr Naresh Kumar Garg Chief Executive Officer 18 (5 yrs. in Sahara Tax-Gain Fund)

Mr A N Sridhar Fund Manager 17 (2.5 yrs. in Sahara Tax-Gain Fund)

sms TAX to 59090



EQUITY SHARES

Power GVK Power & Infrastructure Ltd 4.00 15.93Reliance Infrastructure Ltd 3.38Tata Power Company Ltd 2.43Power Finance Corporation Ltd 2.19National Thermal Power Corp Ltd 2.20Reliance Power 1.72

Consumer Non Durables Balrampur Chini Mills Ltd 2.82 12.94Nestle India Limited 1.98Shree Renuka Sugars Ltd 2.38Colgate-Palmolive (India) Ltd 4.27ITC Limited 1.49

Industrial Capital Goods Bharat Heavy Electricals Ltd 3.11 10.13Larsen and Toubro Limited 2.65Thermax Ltd 2.28Asea Brown Boveri Ltd 2.09

Banks IDBI Ltd 2.64 6.83Karur Vysya Bank Ltd 2.15Union Bank of India 2.05

Gas Gas Authority of India Ltd 4.07 6.68Indraprastha Gas Ltd 2.61

Auto Bajaj Auto Ltd 2.55 6.06Tata Motors Ltd 2.05Mahindra & Mahindra Ltd 1.46

Telecom - Services Idea Cellular Ltd 2.01 5.36Reliance CommunicationVentures Ltd 1.43Bharti Airtel Ltd 1.92

Petroleum Products Hindustan Petroleum Corp Ltd 2.78 5.21Bharat Petroleum Corporation Ltd 2.43

Transportation Gateway Distriparks Ltd 1.36 4.81Mercator Lines Limited 0.47Mundra Port & Special Eco Zone Ltd 2.98

Ferrous Metals Tata Iron & Steel Company Ltd 2.48 4.55Wellspun Gujarat S R Ltd. 2.07

Consumer Durables Voltas Ltd 3.71 3.71

Finance Shriram Transport FinanceCompany Ltd 3.04 3.04

Cement ACC Ltd 2.11 2.11

Industrial Products SKF India Ltd. 2.63 2.63

Fertilisers Gujarat State Fertilisers Corp Ltd 2.47 2.47

Pharmaceuticals Cipla Ltd 1.79 1.79

Paper Ballarpur Industries Ltd. 1.70 1.70


Current and other Assets 4.06 4.06

Total 100.00 100.00

Date of Inception: 01/04/1997; Total Expenses Ratio (%) : 2.50; AUM : 708.88 lakhs; Holding in TOP 10 scrips : 34.16%

Note: Annualised Returns.


Sahara INFRASTRUCTURE FUNDAn Open-Ended Growth Fund

The objective of the scheme….is to provide income distribution and / or medium to long term capitalgains by investing predominantly in equity/ equity related instrumentsof companies in the Infrastructure sector.

Minimum application Rs.1000/- under Growth Option and Rs.5000/- under Dividend Option and additional amount in multiples of Re. 1/-.


Initial cheque of Rs.1000/- and 5 post dated cheques for minimum of Rs.1000/- each Initial cheque of Rs.2000/- and 3 post dated cheques of minimum of Rs.2000/- each

Load Structure: Entry Load < Rs.1 cr : 2.25%; >= Rs.1 cr : Nil

SIP/STP : Entry Load : 2.25%

Exit Load < Rs.1 cr; Nil, >= Rs.1 cr: 1% if redeemed on or before 3 months

Exit Load 1% if redeemed on or before 1 year from date of allotment


Fixed Pricing (Div) - Rs.10.6004 Variable Pricing (Div) - Rs.10.8896

Fixed Pricing (Gr) - Rs.14.4940 Variable Pricing (Gr) - Rs.14.8237


Dividend declared on the face value of Rs.10/- . Past Performance may or may notbe sustained in future.

Dividend

Record Date Rate % of Div Cum Div NAV (Rs.)Fixed Variable

30.11.2007 Rs. 5.00 per unit 50.00% 18.6112 18.8216

INFRASTRUCTURE FundINFRASTRUCTURE Fund


Naresh Kumar Garg Chief Executive Officer 18 (3 yrs. in Sahara Infrastructure Fund)

A N Sridhar Fund Manager 17 (2.5 yrs. in Sahara Infrastructure Fund)

sms INFRA to 59090


Investment Option (Fixed Pricing Option / Variable Pricing Option)

Dividend Option incl. Dividend Re-Investment Growth Option


Infrastructure Fund Variable Pricing Fixed Pricing Nifty

1 year 27.01 26.06 6.20

Since inception 12.93 12.14 6.39

Annualised Returns

Statistical Measures (For trailing 3 yrs period)Variable Pricing Fixed Pricing

Standard Deviation 38.63% 38.62%

Beta 1.0523 1.0520

R Squared 0.9413 0.9415

Sharpe ratio1 0.4168 0.3951

Portfolio Turnover Ratio(%) 252.29




EQUITY SHARES

Industrial Capital Goods Larsen and Toubro Limited 2.55 23.15Bharat Heavy Electricals Ltd 2.39McNally Bharat Engineering Co. Ltd 2.30Alstom Projects India Limited 2.26Asea Brown Boveri Ltd 2.23Voltamp Transformers Ltd 2.21Thermax Ltd 2.18Siemens Ltd 2.01BGR Energy Systems Limited 1.76Ess Dee Aluminium Ltd 1.71Bharat Earth Movers Ltd 1.57

Power Jyoti Structures Ltd 3.16 18.11Reliance Infrastructure Ltd 2.78Tata Power Company Ltd 2.67National Thermal Power Corp Ltd 2.11GVK Power & Infrastructure Ltd 2.04Praj Industries Ltd. 1.97Power Trading Coporation India Ltd 1.79Suzlon Energy Limited 1.60

Construction Jai Prakash Associates Ltd. 2.53 11.03Hindustan Construction Company Ltd 2.25GMR Infrastructure Ltd 2.23IVRCL Infrastructures & Projects Ltd 2.12IRB Infrastructure Developers Ltd 1.91

Gas Gas Authority of India Ltd 2.23 7.95Gujarat State Petronet Ltd 2.01Indraprastha Gas ltd 1.94Petronet LNG Limited 1.78

Cement Madras Cements Ltd 2.06 6.00JK Lakshmi Cement Ltd 1.97Grasim Industries Ltd 1.97

Banks State Bank of India 2.23 5.69Central Bank of India 1.82IDBI Bank Ltd 1.64

Petroleum Products Indian Oil Corporation Limited 1.85 4.93Hindustan Petroleum Corp Ltd 1.58Bharat Petroleum Corporation Ltd 1.50

Ferrous Metals Jindal Steel & Power Ltd. 1.73 4.76Steel Authority of India Ltd 1.52Tata Iron & Steel Company Ltd 1.51

Finance LIC Housing Finance Ltd 2.39 2.39Consumer Durables Voltas Ltd 2.32 2.32Non-Ferrous Metals Sterlite Industries Limited 1.88 1.88Oil Cairn India Ltd 1.80 1.80Mining & Minerals Sesa Goa Ltd 1.76 1.76Transportation Gateway Distriparks Ltd 1.50 1.50Equity Total 93.27 93.27Current Assets 6.73 6.73Total 100.00 100.00

Value Research Rating^


Sahara WEALTH PLUS FUNDAn Open-Ended Growth Fund

The objective of the scheme….is to invest in equity and equity related instruments of companiesthat would be wealth builders in the long term.

Minimum Application

Rs. 1000/- and additional amount of Rs.500/- & multiples of Re.1/- thereafter.


WEALTH PLUS FundWEALTH PLUS Fund

Initial cheque of Rs.1000/- and 5 post dated Initial cheque of Rs.2000/- and 3 post dated chequescheques for minimum of Rs.1000/- each of minimum of Rs.2000/- each


Load Structure

Entry Load < Rs.1 cr : 2.25%; Exit Load < Rs.1 cr ; Nil, >= Rs.1 cr:>= Rs.1 cr : Nil 1% if redeemed on or before 3 months

SIP/STPEntry Load: 2.25% Exit Load 1% if redeemed on or before 1

year from date of allotment


Fixed Pricing (Div) - Rs.14.8226 Variable Pricing (Div) - Rs.15.2067Fixed Pricing (Gr) - Rs.14.8226 Variable Pricing (Gr) - Rs.15.2067


Sahara Wealth Plus Variable Pricing Fixed Pricing CNX 500

1 year 8.46 7.71 8.31

3 years 8.24 7.49 10.63

Since inception 11.61 10.86 18.17Note: Annualised returns

Investment Option (Fixed Pricing Option / Variable Pricing Option)

Dividend Option incl. Dividend RI Growth Option

Statistical Measures (For trailing 3 yrs period)Variable Pricing Fixed Pricing

Standard Deviation 28.01% 28.00%Beta 0.6920 0.6918R Squared 0.9552 0.9553Sharpe ratio1 0.1594 0.1325Portfolio Turnover Ratio (%) 194.70


Name Designation Experience (Yrs)Naresh Kumar Garg Chief Executive Officer 18 (3.5 yrs. in Sahara Wealth Plus Fund)

A N Sridhar Fund Manager 17 (2.5 yrs. in Sahara Wealth Plus Fund)

sms WEALTH to 59090




EQUITY SHARES

Consumer Non Durables Colgate-Palmolive (India) Ltd. 3.34 20.79ITC Limited 3.32Balrampur Chini Mills Ltd 2.66Nestle India Limited 2.64

Shree Renuka Sugars Ltd 2.62Dabur India Ltd 2.42Jyothy Laboratories Ltd 2.03

Titan Industries Ltd 1.76

Banks State Bank of India 2.72 11.43IDBI Bank Ltd 2.64Karur Vysya Bank Ltd 2.33

Union Bank of India 1.89Indian Bank 1.84

Industrial Capital Goods Asea Brown Boveri Ltd 2.71 8.81Bharat Heavy Electricals Ltd 2.12

Ess Dee Aluminium Ltd 2.05Siemens Ltd 1.93

Pharmaceuticals Glaxosmithline Consumer Healthcare 3.31 9.06

Dishman Pharmaceuticals Ltd 2.23Biocon Ltd 1.84Aurobindo Pharma Ltd 1.68

Auto Bajaj Auto Ltd 3.01 5.50

Mahindra & Mahindra Ltd 2.49

Consumer Durables Voltas Ltd 2.48 4.44Sintex Industries Limited 1.96

Pesticides United Phosphorous Ltd. 4.29 4.29

Finance LIC Housing Finance Ltd 3.12 3.12

Chemicals Bayer Cropscience Ltd 2.81 2.81

Oil Oil & Natural Gas Corp Ltd 2.44 2.44

Telecom - Services Bharti Airtel Ltd 2.41 2.41

Ferrous Metals Tata Iron & Steel Company Ltd 2.35 2.35

Industrial Products SKF India Ltd. 2.19 2.19

Media Sun TV Limited 2.11 2.11

Power Tata Power Company Ltd 2.07 2.07

Construction Jai Prakash Associates Ltd. 1.97 1.97

Hotels Indian Hotel Company Limited 1.93 1.93


Current & Other Assets 12.29 12.29

Grand Total 100.00 100.00

Portfolio RoE: 33.59%Return on Equity: The Equity selected is based on Return on Equity. A higher RoE may mean higher creation of Wealth.


SaharaAn Open-Ended Growth Fund

POWER & NATURALRESOURCES FUND POWER & NATURAL RESOURCES FundPOWER & NATURAL RESOURCES Fund

Portfolio as on 30.06.09The objective of the scheme….to generate long term capital appreciation through investment in equities and equity relatedsecurities of companies engaged in the business of generation, transmission, distribution ofPower or in those companies that are engaged directly or indirectly in any activity associated inthe power sector or principally engaged in discovery, development, production, processing ordistribution of natural resources.

SaharaAn Open-Ended Sectoral Growth Fund

BANKING AND FINANCIALSERVICES FUND

The objective of the scheme….The investment objective would be to provide long term capital appreciationthrough investment in equities and equities related securities of companieswhose business comprise of Banking / Financial services, either whole or in part.

SYSTEMATIC INVESTMENT PLAN (SIP) – AUTO DEBIT / ECS FACILITY AVAILABLE

Monthly SIP Quarterly SIP

Initial cheque of Rs.1000/- and 5 post dated Initial cheque of Rs.2000/- and 3 post datedcheques for minimum of Rs.1000/- each cheques of minimum of Rs.2000/- each


EQUITY SHARESPower Tata Power Company Ltd 3.99 28.56

Reliance Infrastructrue Ltd 3.80Lanco Infratech Ltd 3.62Jyoti Structures Ltd 3.25National Thermal Power Corp Ltd 3.24Power Trading Corporation India Ltd 2.27Reliance Power 2.18Suzlon Energy Limited 2.10Gujarat Industries Power Ltd. 2.06Power Grid Corporation of India Ltd 2.05

Industrial Capital Goods Asea Brown Boveri Ltd 3.04 18.90Bharat Heavy Electricals Ltd 2.87Voltamp Transformers Ltd 2.72Thermax Ltd 2.62Alstom Projects India Limited 2.46Larsen and Toubro Limited 2.15Siemens Ltd 1.64BGR Energy Systems Limited 1.41

Consumer Non Durables Shree Renuka Sugars Ltd 3.46 11.88Bajaj Hindustan Ltd 3.39Balrampur Chini Mills Ltd 2.97Triveni Engineering and Industries Ltd 2.07

Gas Indraprastha Gas 3.20 9.58Gas Authority of India Ltd 2.92Gujarat State Petronet Ltd 1.94Petronet LNG Limited 1.52

Petroleum Products Hindustan Petroleum Corp Ltd 2.94 6.03Bharat Petroleum Corporation Ltd 1.55Indian Oil Corporation Limited 1.54

Fertilisers Coromandel Fertilisers Ltd 2.15 5.75Gujarat Narmada Valley Fert Co. Ltd 1.91Chambal Fertilisers & Chemicals Ltd 1.69

Consumer Goods Aditya Birla Nuvo (Indian Rayon) 3.13 3.13Construction Jai Prakash Associates Ltd. 2.78 2.78Mining & Minerals Sesa Goa Ltd 2.64 2.64Hardware Moser Baer India Ltd 2.57 2.57Power GVK Power & Infrastructure Ltd 2.34 2.34Non- Ferrous Metals Sterlite Industries Limited 2.28 2.28Ferrous Metals Tata Iron & Steel Company Ltd 1.69 1.69Oil Oil & Natural Gas Corp 1.54 1.54Equity Total 99.66 99.66Current and Other Assets 0.34 0.34Grand Total 100.00 100.00

NAV as on June 30, 2009Growth Option Dividend OptionRs.18.9038 Rs.18.8959

Total Expenses Ratio (%) ; 1.59; AUM : 339.00 lakhs; Holding in TOP 10 scrips : 65.44%

Sahara Banking & FS Fund Scheme CNX Bank Index

Since inception (16.09.2008) 89.04 19.66

Name Designation Experience (Yrs / Mths)Naresh Kumar Garg Chief Executive Officer 18 (9 mths in Sahara Banking & FS Fund)A N Sridhar Fund Manager 17 (9 mths in Sahara Banking & FS Fund)


sms POWER to 59090

sms BANKING to 59090

Minimum applicationDividend including Dividend Re-investment; Growth option

Minimum Amount (Rs.) Rs.5000/- and in multiples of Re.1/- thereafter.



EQUITY SHARESBanks State Bank of India 8.65 79.08

ICICI Bank Ltd 8.52HDFC Bank Ltd 7.93Axis Bank Limited 6.63Bank of Baroda 6.57South Indian Bank Ltd 6.18Yes Bank Ltd 5.71Canara Bank 5.07Union Bank of India 4.29IDBI Ltd 3.89Syndicate Bank 3.87Andhra Bank Limited 3.63City Union Bank Limited 3.41Bank of India 2.44Allahabad Bank 2.29

Finance LIC Housing Finance Ltd 5.65 17.55Shriram Transport Finance Company Ltd 4.53Reliance Capital Ltd 4.13Bajaj Holdings & Investment.Ltd 3.24

Equity Total 96.63 96.63Current and Other Assets 3.37 3.37Grand Total 100.00 100.00

SYSTEMATIC INVESTMENT PLAN (SIP) – AUTO DEBIT / ECS FACILITY AVAILABLEMonthly SIP Quarterly SIP

Initial cheque of Rs.1000/- and 5 post dated Initial cheque of Rs.2000/- and 3 post datedcheques for minimum of Rs.1000/- each cheques of minimum of Rs.2000/- each

Minimum applicationDividend including Dividend Re-investment; Growth option

Minimum Amount (Rs.) Rs.5000/- and in multiples of Re.1/- thereafter.

Load StructureEntry Load 2.25% ; Exit Load: For < Rs.25 lakhs : Nil ;

For >= Rs.25 lakhs : 1% if redeemed on or before 3 months fromthe date of allotment; if redeemed after 3 months : Nil

SIP/STPEntry Load: 2.25% Exit Load: 1% if redeemed on or before 1 year from date of allotment

Performance (%) of the Fund (Growth Option)Sahara Power & NR Fund Scheme NiftyInception* (17.06.2008) 5.78 (7.78)

Note: *Annualized return

NAV as on June 30, 2009Dividend: Rs.10.5782 Growth: Rs.10.5775

Name Designation Experience (Years)Naresh Kumar Garg Chief Executive Officer 18 (1 year in Sahara Power & NR Fund)A N Sridhar Fund Manager 17 (1 year in Sahara Power & NR Fund)

Load Structure SIP/STPEntry Load 2.25% ; Exit Load: For < Rs.25 lakhs : Nil ; Entry Load: 2.25% Exit Load:For >= Rs.25 lakhs : 1% if redeemed on or before 3 months 1% if redeemed on or before 1from the date of allotment; if redeemed after 3 months : Nil year from date of allotment

Total Expenses Ratio (%) ; 2.25; AUM : 692.29 lakhs;Holding in TOP 10 scrips : 34.10%


Sahara MIDCAP FUNDAn Open-Ended Growth Fund


is to achieve long-term capital growth at medium level of risks byinvesting primarily in mid-cap stocks.

SYSTEMATIC INVESTMENT PLAN (SIP) – AUTO DEBIT / ECS FACILITY AVAILABLEMonthly SIP Quarterly SIP

6 post dated cheques for minimum of Rs.1000/- each 4 post dated cheques of minimum for Rs.2000/- each



EQUITY SHARES

Industrial Capital Goods McNally Bharat Engineering Co. Ltd 3.67 16.29Crompton Greaves Ltd 3.02Thermax Ltd 2.94Voltamp Transformers Ltd 2.38Ess Dee Aluminium Ltd 2.18Praj Industries Ltd. 2.11

Banks Bank of Baroda 3.03 14.49Bank of India 2.96Yes Bank Ltd 2.71Central Bank Of India 2.06City Union Bank Limited 1.97Union Bank of India 1.76

Consumer Non Durables Shree Renuka Sugars Ltd 3.25 13.67Bajaj Hindustan Ltd 2.72Balrampur Chini Mills Ltd 2.56Bata India Ltd 1.78Triveni Engineering and Industries Ltd 1.74EID Parry (India) Ltd. 1.62

Gas Gujarat State Petronet Ltd 2.49 7.29Indraprastha Gas 2.47Petronet LNG Limited 2.33

Industrial Products Sintex Industries Limited 3.78 6.19SKF India Ltd. 2.41

Fertilisers Chambal Fertilisers & Chemicals Ltd 2.20 5.06Coromandel Fertilisers Ltd 1.58Gujarat State Fertilisers Corp Ltd 1.27

Pharmaceuticals Biocon Ltd 1.86 4.38Dishman Pharmaceuticals Ltd 1.35Glenmark Pharmaceuticals Ltd 1.16

Petroleum Products Hindustan Petroleum Corp Ltd 2.10 3.98Chennai Petroleum Corporation Ltd 1.88

Power GVK Power & Infrastructure Ltd 2.21 3.87Jyoti Structures Ltd 1.65

Auto Bajaj Auto Ltd 3.53 3.53Finance Infrastr.Development Finance Co.Ltd 2.97 2.97Consumer Durables Voltas Ltd 2.58 2.58Pesticides United Phosphorus Ltd 2.34 2.34Transportation Gateway Distriparks Ltd 2.35 2.35Hotels Indian Hotel Company Limited 2.03 2.03Cement JK Lakshmi Cement Ltd 1.94 1.94Paper Ballarpur Industries Ltd. 1.92 1.92Construction IVRCL Infrastructures & Projects Ltd 1.66 1.66Media Sun TV Limited 1.42 1.42Software Tech Mahindra Ltd 1.07 1.07Equity Total 99.01 99.01Current and Other Assets 0.99 0.99Grand Total 100.00 100.00

Investment Option NAV as on June 30, 2009

Growth Option: Rs.20.8536 Dividend option: Rs.14.1590

Growth Auto Payout : Rs.20.8536 Bonus Option: Rs.20.8536

Statistical Measures (For trailing 3 yrs period)Standard Deviation 42.08%Beta 0.9584R Squared 0.9578Sharpe ratio1 0.2064Portfolio Turnover Ratio(%) 238.91



Sahara Midcap Fund Scheme Returns CNX Midcap1 Year 10.75 3.603 Year 12.46 11.22Inception 17.98 16.65

Note: Annualised returns.


Dividend declared on the face value of Rs.10/-; Past performance mayor may not be sustained in future

Dividend

Record Date Rate % of Div Cum Div NAV (Rs.)28.09.2007 Rs. 5.00 per unit 50% 20.918320.09.2005 Rs. 1.50 paise per unit 15% 14.2829

MIDCAP FundMIDCAP Fund

Load Structure Entry Load: < Rs.1 cr : 2.25%; >=Rs. 1 cr ; NilExit Load: < Rs.1 cr : Nil; >= Rs.1 cr : 1% if redeemed on or before 3 months

SIP/STP Entry Load: 2.25%; Exit Load: 1% if redeemed on or before 1 year from date of allotment


Naresh Kumar Garg Chief Executive Officer 18 (4.5 yrs in Sahara Midcap Fund)

A N Sridhar Fund Manager 17 (2.5 years in Sahara Midcap Fund)

Minimum Application: Rs. 1000/- & additional amount of 500/- & multiples of Re. 1/-.

sms MIDCAP to 59090



TARGETED CAPITAL SEGMENT WISE BREAK UP (as on June 30, 2009)

MIDCAP : 91.04% LARGE CAP : 8.96%



SaharaThe objective of the scheme….

is to generate reasonable returns by investing in sovereign instruments issued by Central /State governments.

GILT FUND An Open-Ended Gilt Fund

GILT FundGILT Fund

Monthly SIP Quarterly SIP5 postdated cheques for minimum 4 postdated cheques for minimumof Rs.1000/- each. of Rs.1250/- each.

Minimum Application Load Structure SIPRs.5000/- & additional amt. of 1000/- & Entry Load: NilMultiples of Re. 1/- thereafter. Exit Load: As per normal

Load StructureEntry Load: 0.50%

Exit Load: Nil

Investment Option NAV as on June 30, 2009

Growth Option Growth: Rs.16.0489Dividend Option Dividend: Rs.13.3930


Portfolio Rating % of PortfolioNet Current Assets/Reverse Repo Sov 100.00%

TOTAL 100.00%

DividendRecord Date Rate % of Div Cum Div NAV (Rs.)

26.03.2007 Rs. 1.00 per unit 10.00% 11.4405

Dividend declared on the face value of Rs.10/-.Past performance may or may not be sustained in future.

The performance of the dividend plan for the investor would be net of the dividenddistribution tax, as applicable.

SaharaThe objective of the scheme….is to generate income by investing in a portfolio of corporate and sovereign debt instrumentsand at the same time provide continuous liquidity along with reasonable safety.

INCOME FUND An Open-Ended Income Fund

Monthly SIP Quarterly SIP6 post dated cheques for minimum of 4 post dated cheques for a minimum ofRs. 500/- each Rs. 750/- eachMinimum ApplicationRs. 3000/- and additional amt. of Rs.1000/- & multiples of Re.1/- thereafter.

Load Structure: Entry Load: / Exit Load: NilInvestment Option / NAV: Growth Option : Rs.16.7823; Dividend Option : Rs.13.8206

Portfolio Rating % of PortfolioCertificate of Deposits / Commercial Papers 92.81%IDFC Ltd CP A1+ 8.40%Punjab National Bank CD PR1+ 8.37%Godrej Industries Ltd CP A1+ 8.36%Aditya Birla Nuvo Ltd CP A1+ 8.30%Allahabad Bank CD P1+ 7.97%Sundaram Finance Ltd CP A1+ 7.95%HDFC Ltd CP A1+ 7.09%Corporation Bank CD A1+ 5.76%IDBI Bank Ltd CD P1+ 5.70%Axis Bank CD P1+ 5.63%Canara Bank CD P1+ 5.59%State Bank of Travancore CD P1+ 4.03%Punjab National Bank CD PR1+ 4.01%Andhra Bank CD PR1+ 3.24%Union Bank of India CD P1+ 2.40%Short Term Deposits 0.21%Central Bank of India Unrated 0.21%Floating Rate Bonds 6.72%Alkem Lab Ltd P1+ 4.20%Navneet Publication (India) Ltd P1+ 2.52%Net Current Assets/Reverse Repo 0.26% 0.26%Total 100.00%

INCOME FundINCOME Fund

SaharaCLASSIC FUND An Open-Ended Income Fund


is to generate returns by investing in debt instruments including money market instrumentsand also to invest in equity and equity related instruments to seek capital appreciation.

Minimum ApplicationDividend Option: Rs.5000/- and additional investments in multiples of Rs.1000/-.Growth Option: Rs.1000/- and additional investments in multiples of Rs.1000/-.

Monthly SIP Quarterly SIP6 post dated cheques for 4 post dated cheques for aminimum of Rs.1000/- each minimum of Rs.2000/- each

Load Structure Entry Load: 1%; Exit Load: Nil

Investment Option NAV as on June 30, 2009Growth Option Growth: Rs.16.9125Dividend option Dividend: Rs.13.9279

Average Maturity Tenor : 59 Days; Total Expenses Ratio (%) : 0.35 ; AUM : Rs.32.90 lakhs


Portfolio Rating % of Portfolio

Certificate of Deposits / Commercial Papers 95.60%Allahabad Bank CD P1+ 18.14%Canara Bank CD P1+ 17.83%State Bank of Travancore CD P1+ 17.81%Axis Bank Ltd CD P1+ 14.92%IDBI Bank Ltd CD P1+ 14.84%Corporation Bank CD A1+ 12.05%Net Current Assets/Reverse Repo 4.40% 4.40%

TOTAL 100.00%

Performance (%) of the Fund (Growth Option)Classic Scherme CRISIL MIP Blended Index1 year 17.1230 12.0443

Since inception 15.0595 8.7242

DividendRecord Date Rate % of Div Cum Div NAV (Rs.)26.03.2007 Rs. 1.00 per unit 10.00% 11.7697

Dividend declared on the face value of Rs.10/-. Past performance may or may not be sustained in future.The performance of the dividend plan for the investor would be net of the dividend distribution tax, as applicable.

Name Designation Experience (Yrs / Months)Naresh Kumar Garg Chief Executive Officer 18 (5 yrs in Sahara Gilt Fund)

Devesh Thacker Fund Manager 9 (4 Months in Sahara Gilt Fund)

Name Designation Experience (Yrs / Months)Naresh Kumar Garg Chief Executive Officer 18 (1 yr 5 Mths in Sahara Classic Fund)Devesh Thacker Fund Manager 9 (3 Months in Sahara Classic Fund)A N Sridhar Fund Manager 17 (1 yr 5 Mths in Sahara Classic Fund)

Name Designation Experience (Yrs / Months)Naresh Kumar Garg Chief Executive Officer 18 (5 yrs in Sahara Income Fund)Devesh Thacker Fund Manager 9 (4 Months in Sahara Income Fund)

sms INCOME to 59090sms GILT to 59090

Performance (%) of the Fund (Growth Option)Sahara Gilt Fund Scheme Returns I Sec Composite Index1 year 18.1326 18.2299

3 years 10.3094 10.1302

5 years 7.2700 7.0951

INCEPTION 6.6856 NA*

* Base date of index being 31/03/2002 Note: Annualised Returns

Average Maturity Tenor : 2 Days; Total Expenses Ratio (%) : 0.34;AUM : Rs.20.91 lakhs.



sms CLASSIC to 59090

Average Maturity Tenor : 55 Days; Total Expenses Ratio (%) : 0.35 ; AUM : Rs.11,899.43 lakhs

Performance (%) of the Fund (Growth Option)Sahara Income Fund Scheme Returns Crisil Composite Bond Fund Index1 year 16.1892 11.20073 Years 11.0097 6.89835 Years 7.8830 5.3388INCEPTION 7.4484 NA*

* Base date of index being 31/03/2002 Note: Annualised Returns


Sahara LIQUID FUNDAn Open-Ended Liquid Fund

The objective of the scheme….is to create a portfolio of debt and money market instruments with a viewto provide high liquidity and reasonable returns.

LIQUID FundLIQUID Fund

Performance as on June 30, 2009 (Growth Option)Scheme / Index Name 7 days 15 days 30 days 6 mths 1 yr 3 yrs 5 yrs InceptionVariable Pricing Growth 0.1362 0.2677 0.5462 4.0151 8.9844 8.2343 NA 7.8153OptionFixed Pricing Growth 0.1345 0.2654 0.5426 3.9450 8.8730 8.0234 6.9522 6.6461OptionCrisil Liquid Fund Index 0.0536 0.1132 0.2336 1.3881 8.3954 7.4861 6.4161 NA*

*Base date of index - 31/03/2002 Returns - Annualised for 1 year and aboveInception Date.- 19-02-2002

The face value of the units have been changed from Rs.10/- per unit to Rs.1000/- per unit byconsolidation of units w.e.f. 27th October, 2005.Also, the Variable Pricing Option has been introduced under the scheme w.e.f. 27th October, 2005.

Asset Allocation (%)

Load StructureEntry Load : Nil Exit Load : Nil

Monthly SIP Quarterly SIP5 postdated cheques for minimum of 4 postdated cheques for minimum ofRs. 2000/- each. Rs. 2500/- each.

Minimum Application Load Structure SIPRs.10000/- & additional amt. of 5000/- & Entry Load : Nil for SIP/STP investmentsMultiples of Re. 1/-. Exit Load : Nil


Portfolio Rating % of Portfolio

Certificate of Deposits / Commercial Papers 50.89%

Corporation Bank CD A1+ 9.08%

Axis Bank CD P1+ 9.00%

Canara Bank CD P1+ 8.96%

IDBI Bank Ltd CD P1+ 8.95%

Union Bank of India CD P1+ 5.87%

HDFC Ltd CP A1+ 3.73%

Andhra Bank CD PR1+ 3.02%

Sundaram Finance Ltd CP A1+ 1.52%

Allahabad Bank CD P1+ 0.76%

Bonds 30.55%

Power Finance Corporation Ltd AAA 30.55%

Short Term Deposits 17.66%

Bank of Maharashtra 5.93%

Central Bank of India 5.93%

Bank of Maharashtra 2.90%

Central Bank of India 2.90%

Net Current Assets/Reverse Repo 0.89% 0.89%

Total 100.00%

Cum Dividend History [per unit (in Rupees)] for last3 months (for Monthly Dividend Option )*

Fixed Pricing OptionDate Dividend (Rs.) Investor24.04.09 5.9855 Non Corporate29.05.09 6.9664 Non Corporate26.06.09 5.1473 Non Corporate

Variable Pricing OptionDate Dividend (Rs.) Investor24.04.09 6.1032 Corporate / Non Corporate29.05.06 6.9674 Corporate / Non Corporate26.06.09 5.1481 Corporate / Non Corporate

Investment Option NAV as on June 30, 2009Fixed Pricing - Daily Dividend Option Rs.1024.9045Fixed Pricing - Weekly Dividend Option Rs.1026.2355Fixed Pricing - Monthly Dividend Option Rs.1025.2843Fixed Pricing - Growth Option Rs.1607.5650Variable Pricing - Daily Dividend Option Rs.1024.9262Variable Pricing - Weekly Dividend Option Rs.1025.5321Varibale Pricing - Monthly Dividend Option Rs.1025.6100Variable Pricing - Growth Option Rs.1619.5310

SaharaSHORT TERM BOND FUNDAn Open Ended Income FundCEO: Mr. Naresh Kumar Garg FM: Mr Devesh ThackerDate of Inception: 13.04.2009

The objective of the scheme…is to generate optimal returns consistent with moderate levels of risk and liquidity by investingin debt securities and money market securities.

Load Structure Entry Load: NilExit Load: 0.10% if redeemed between 0-15 days from the dateofallotment of units. No exit load if redeemed after 15 days.

Monthly SIP Quarterly SIP5 post dated cheques for a minimum of 4 post dated cheques for a minimum ofRs.2000/- each. Rs.2500/- each.

Minimum Application Investment Options / NAV as on 30.06.2009Rs.5000/- and in multiples of Dividend Reinvestment Option : Rs.10.1745Re.1/- thereafter. Growth Option: Rs.10.1744

Portfolio as on 30.06.2009Portfolio Rating % of PortfolioCertificate of Deposits / Commercial Papers 98.25%Allahabad Bank CD P1+ 18.84%Axis Bank Ltd CD P1+ 10.63%Canara Bank CD P1+ 10.58%Corporation Bank CD A1+ 10.73%Punjab National Bank CD PR1+ 10.41%Punjab National Bank CD PR1+ 8.11%State Bank of Travancore CD P1+ 7.93%Union Bank of India CD P1+ 7.81%HDFC Ltd CP A1+ 13.21%Net Current Assets/Reverse Repo 1.75% 1.75%Total 100.00%

Average Maturity Tenor: 77 Days; Total Expenses Ratio (%): 0.35; AUM: Rs.36.95 lakhs

Sahara Short Term Bond Fund SCHEME (%) LIQUIFEX (%)Since Inception (Absolute Returns) (13.04.09) 1.74 0.90

Name Designation Experience (Yrs / Months)Naresh Kumar Garg Chief Executive Officer 18 (5 yrs in Sahara Liquid Fund)Devesh Thacker Fund Manager 9 (4 Months in Sahara Liquid Fund)

sms LIQUID to 59090


CRISIL Rating indicates that the fund portfolio holdings provide very strong protection against losses fromcredit defaults.Disclaimer clause: The rating of CRISIL is not an opinion of the Asset Management Company’s willingnessor ability to make timely payments to the Investors. The rating is also not an opinion on the stability of the NAVof the fund, which could vary with market developments.

Average Maturity Tenor: 71 Days; Total Expenses Ratio (%): 0.32; AUM: Rs.3272.95 lakhs

Performance (%) as on 30.06.2009 (Growth option)

* Dividend declared on the face value of Rs.1000/-. Past performance may or may not be sustained in future.The performance of the dividend plan for the investor would be net of the dividend distribution tax, as applicable.^ Value Research Rating (For Sahara Infrastructure Fund, Sahara Midcap Fund, Sahara Liquid Fundand Sahara Income Fund): Value Research Fund Ratings are a composite measure of historical risk-adjustedreturns. In the case of debt funds this rating is based on the weighted average weekly returns for the last 18months. These ratings do not take into consideration any entry or exit load. The Value Research Ratings arepublished in Monthly Mutual Fund Performance Report and Mutual Fund Insight. These fund ratings are as onJune 30, 2009. The ratings are subject to change every month. The rating is based on primary data provided byfunds, Value Research does not guarantee accuracy. It is purely quantitative and there is no subjective componentto the Fund Rating. The assessment does not reflect Value Research’s opinion of the future potential ofany fund. It only gives a quick summary of how a fund has performed historically relative to its peers.Source: (www.valueresearchonline.com)



Documents

NAV as on June 30, 2009 Dividend : Rs.14.4336 Growth : Rs.25.3460 Statistical Measures (For trailing 3 yrs period) Standard Deviation 34.66% Beta 0.8769 R Squared1 0.9668 Sharpe ratio