KARVY’s

November, 2018

INVESTOR JOURNAL

www.karvyvalue.com

What’s Inside

KARVY’sINVESTOR JOURNAL

Fund of the MonthL&T India Value Fund-Reg(G)

The investment objective of theScheme is to generate long-term capital...November, 2018

Page 05

Market ReviewPage 01

Karvy Investment InsightPage 03

Fund of The MonthPage 05

Readers CornerPage 06

Associate Connect Page 07

Story of The MonthPage 08

SIP PerformancePage 09

Category Average ReturnsPage 10

Fixed Deposits SchemesPage 11

Equity Funds PerformancePage 12

Debt Funds PerformancePage 13

Global Markets at a GlancePage 14

Indices WatchPage 15

Highlights of the Month » The latest AMFI data shows that the mutual fund industry

has been receiving an average monthly inflow of Rs.7,650 crore through SIPs. This is the average monthly inflow of three months for the period July to September 2018. In the preceding quarter, i.e., between April and June 2018, the average monthly SIP inflow was Rs.7,182 crore.

» In September alone, the monthly inflows in mutual funds through SIP reached an all-time high of Rs.7,727 crore.

» AMFI data shows that the MF industry had added about 10 lakh SIP accounts each month on an average during the FY 2018-19, with an average SIP size of about Rs.3,200 per SIP account.

» HDFC Mutual Fund continues to hold the top position in terms of equity AUM. Despite the fall in key equity indices, the company has witnessed a growth of 2% in its equity AUM i.e. from RS.1.55 lakh crore in June 2018.

» SEBI has banned upfront commission this month and encouraging AMC to give trail commission.

» MF industry folios shows that the industry added a whopping 1.6 crore folios in just one year period ending on September 2018.

» IL&FS has over Rs 91,000 crore in debt and is facing severe liquidity crisis. The default in payment of interest by the company has raised concerns over its financial stability. Since September 12, IL&FS has defaulted in payments of interest more than seven times so far.

» IL&FS needs immediate capital infusion of Rs 3,000 crore and has also proposed Rs 4,500 crore as rights issue. The Reserve Bank of India (RBI) also met the shareholders of IL&FS on September 28 to discuss the revival and capital infusion plans for the company.

INVESTOR JOURNALNovember, 2018

Market Review

1.Foreign Trade: India registered a merchandise trade deficit of USD 13.98 billion in Sep’18 against USD 9.39 billion in Sep’17, increasing by 48.88% on Y-o-Y basis. On an M-o-M basis, the trade deficit contracted by 19.66% from USD 17.40 billion recorded in Aug’18.

The Rupee ranged between Rs.70.77 - Rs.72.81 per USD before closing at Rs.72.55 per USD in the month of Sep’18, vis-à-vis Rs.70.93 per USD recorded in Aug’18.

The country’s merchandise exports was reported at USD 27.95 billion in Sep’18 as against USD 28.57 billion recorded in Sep’17, recording a decline of 2.17% Y-o-Y.

Non-petroleum exports, constituting around 84% of the total exports, stood at USD 23.55 billion, recording a Y-o-Y decline of 6.17% in Sep’18. Petroleum exports increased on a Y-o-Y basis by 26.76% in Sep’18 with exports worth USD 4.40 billion against USD 3.47 billion in Sep’17.

The country witnessed a decline in exports during the month of September across the various segments of Engineering goods, Gems & Jewellery and RMG of all

Textiles among others.

2.Inflation:

Belying market expectations, headline consumer price inflation for Sep-18 stood at 3.77% compared to Aug-18 reading of 3.69%, remaining below the RBI’s medium term inflation target of 4% for second consecutive month. Core inflation also moderated to 5.81% vs. revised estimate of 5.92% last month (5.87% previously).

Food inflation moderated to -0.85% in Sep-18 from 0.21% in Aug-18.

Specifically, vegetable inflation noted deflationary pressures, falling to -4.15% in the current reading compared to a rise 0.45% in the previous month.

September Wholesale Price Index came in at 5.13% as against 4.53% in the August mainly due to rise in prices of Fuel and power as well as Manufactured Products. At the same time, July WPI print was revised upwards to 5.27% from 5.09% previously.

3.Index of Industrial Production (IIP):

Industrial production for the month of Aug-18 stood at 4.4% lower than revised estimate of July-18 at 6.5% (previously 6.6%) mainly due to an unfavorable base effect.

On a yearly basis, upward momentum was observed across Manufacturing of 4.6% (7.0% prev) and Electricity of 7.6% (6.7% prev). Going forward, as the economy bears the brunt of global turbulence, primarily emanating from trade war fears and rising international commodity prices, it necessitates remaining watchful of evolving developments.

Among the BSE sectoral indices, S&P BSE BANKEX with 1.13% was the top gainer and S&P BSE OIL & GAS Index with -10.85 % was the top looser.

It was a red month for the major Asian Indices as Hangseng, Taiwan, Nikkei 225 ended by -10.11% and -10.94%, -9.12% respectively.

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

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Even though market has see a lot of negative indications like raising oil prices, geo political issue and other global factors. However, increase in inflow in mutual has helped a lot to keep the heads high.

INVESTOR JOURNALNovember, 2018

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

28-Sep-2018 36227.14

01-Oct-2018 36526.14 299.00 0.83%

08-Oct-2018 34474.38 -2051.76 -5.62%

15-Oct-2018 34865.10 390.72 1.13%

22-Oct-2018 34134.38 -730.72 -2.10%

29-Oct-2018 34067.40 -66.98 -0.20%

-5.96%

CNX Nifty IndexDate Close Price Points Diff %age Change

28-Sep-2018 10930.45

01-Oct-2018 11008.30 77.85 0.71%

08-Oct-2018 10348.05 -660.25 -6.00%

15-Oct-2018 10512.50 164.45 1.59%

22-Oct-2018 10245.25 -267.25 -2.54%

29-Oct-2018 10250.85 5.60 0.05%

-6.22%

Sensex & Nifty: (Month Between 28-Sep-2018 to 29-Oct-2018)

MF Activity: (Month Between 01-Oct-2018 to 29-Oct-2018)

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

1-Oct-18 3,606.39 1,906.31 1,700.08

8-Oct-18 3,593.19 2,613.03 980.16

15-Oct-18 1,901.61 1,630.56 271.05

22-Oct-18 3,222.44 2,410.09 812.35

29-Oct-18 4,674.64 2,050.85 2,623.79

Total 73,141.47 51,255.80 21,885.67

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

1-Oct-18 8,026.38 5,199.13 2,827.25

8-Oct-18 11,658.29 6,087.39 5,570.90

15-Oct-18 5,005.41 4,780.66 224.75

22-Oct-18 3,773.90 3,239.27 534.63

29-Oct-18 7,578.37 8,377.53 -799.16

Total 139,497.61 111,165.22 28,332.39

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FII Activity: (Month Between 01-Oct-2018 to 29-Oct-2018)

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

1-Oct-18 5,957.42 7,565.47 -1,608.05

8-Oct-18 6,197.71 7,368.01 -1,170.30

15-Oct-18 3,795.61 3,796.27 -0.66

22-Oct-18 4,864.68 5,307.94 -443.26

29-Oct-18 4,447.50 6,253.02 -1,805.52

Total 103,994.29 131,216.83 -27,222.54

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

1-Oct-18 468.59 1,648.77 -1,180.18

8-Oct-18 821.03 3,052.54 -2,231.51

15-Oct-18 357.04 530.03 -172.99

22-Oct-18 125.57 933.17 -807.60

29-Oct-18 1,228.89 432.96 795.93

Total 22,668.09 31,977.31 -9,309.22

-----------------------------------------------------------------------------------------------------------------------------------------------------------Source : ACE MF

PB

Empower and Strengthen your

child’s future, today.

Don’t let finances get in the way of your

child’s dream!

Do SIP Today.Your small addition will help your children fulfill their big dreams.

START TODAY

2018 2033 Monthly Savings needed forProfessional education in 2033?

MBA 17.42 Lakhs 72.8 Lakhs

10 Lakhs 41.8 Lakhs

50.13 Lakhs 2.09 Crore

Engineering

Medical

Rs. 14,566

Rs. 8,362

Rs. 41,916

INVESTOR JOURNALNovember, 2018

Karvy Investment Insight

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.

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Secrets of the Millionaire Mind

Overview: According to financial training guru T. Harv Eker, money is a unique phenomenon that only needs to be properly understood to be accumulated. In Secrets of the Millionaire Mind, he explains that our prior programming on the subject of money has an incredibly deep impact on how we interact with money and what our future possibilities of wealth are likely to be.

Secrets of the Millionaire MindHave you ever wondered why some people seem to get rich easily, while others are destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments?

The shocking answer is: None of the above!In his groundbreaking, Secrets of the Millionaire Mind - Mastering the Inner Game of Wealth, T. Harv Eker states: “Give me five minutes, and I can predict your financial future for the rest of your life!” EkerEker does this by identifying your “money and success blueprint.” We all have a personal money blueprint ingrained in our subconscious minds, and it is this blueprint, more than anything else, that will determine our financial lives. You can know everything about marketing, sales, negotiations,

INVESTOR JOURNALNovember, 2018

Karvy Investment Insight

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stocks, real estate, and the world of finance, but if your money blueprint is not set for a high level of success, you will never have a lot of money-and if somehow you do, you will most likely lose it! The good news is that now you can actually reset your money blueprint to create natural and automatic success. Sounds interesting, doesn’t it? In his twenties, Harv Eker was a ‘success junkie’ who had read all the self-improvement books and been to all the seminars. He had tried and failed at several businesses, and kept wondering when he was going to ‘make it’. “I had heard of this thing called profit”, he ruefully notes, “I just never saw any of it”.

In desperation, he began to examine his deepest thoughts about himself. Even though he had professed a desire to become rich, he recognized that, in reality, his fear of failure was greater. Was he destined to be a struggler? The third time he moved back in with his parents, one of his father’s friends – who happened to be wealthy – gave him some advice: he, too, had once been a ‘disaster’, until he learned a vital truth: “rich people think differently from the average person. Copy the way they think, and you will be ready to become rich yourself.”

Eker studied the psychology of wealth creation and success, and learned mental techniques and strategies to recondition his mind to think in a rich person’s way. He learned that rich people do not ‘hope for the best’; they do not get sidetracked by ‘better’ opportunities; they play to win and do not give up in tough times. So, when he opened a fitness products store, borrowing $2,000 on his credit card, he swore to himself that he would not quit until he left the business as a millionaire. Duly, in two and a half years he had created a chain of 10 stores, of which he sold 50% to a large company for $1.6 million.

Secrets of the Millionaire Mind is a brash, flashy volume which nevertheless contains a trove of great points on the wealth mindset. The book deals with factors that contributed to Eker’s own rise and goes on to suggest, “Seventeen ways rich people think and act differently from Poor and Middle Class People”

Final word

If you are affronted by the flashy pursuit of wealth you might not like Eker’s style, but it is worth reminding yourself of his point that, in the world we live in, love and money are both very important dimensions of life.

Interesting quotes from the book

“Money is a result, wealth is a result, health is result, illness is a result, your weight is a result. We live in a world of cause and effect.”

“Have you ever noticed that complainers usually have a tough life? It seems that everything that could go wrong does go wrong for them.”

“Ask most people if they want to be rich and they’d look at you as if you were crazy. ‘of course I want to be rich, ‘ they’d say. The truth, however is that most people don’t really want to be rich.”

“The number one reason most people don’t get what they want is that they don’t know what they want.”

Author: T. Harv Eker

INVESTOR JOURNALNovember, 2018

5

‘Tweets’ of the Month

Fund of The Month

L&T India Value Fund-Reg(G)

Investment Objective:

The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities, in the Indian markets with higher focus on undervalued securities. The Scheme could also additionally invest in Foreign Securities in international markets.

Portfolio:Top 10 Companies Holdings

Name %age

Reliance Industries Ltd. 6.1

Infosys Ltd. 4.7

ITC Ltd. 4.0

ICICI Bank Ltd. 3.6

Larsen & Toubro Ltd. 3.6

Housing Development Finance Corporation Ltd. 3.2

Axis Bank Ltd. 3.1

Divis Laboratories Ltd. 3.0

Mahindra & Mahindra Ltd. 2.3

Graphite India Ltd. 2.2

Top 10 Sector Wise Holding

Industry Name (%)

Bank - Private 11.3

IT - Software 10.9

Pharmaceuticals & Drugs 7.8

Refineries 6.5

Engineering - Construction 5.3

Cement & Construction Materials 4.1

Cigarettes/Tobacco 4.0

Finance - Housing 4.0

Bank - Public 3.7

Chemicals 3.4

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

Trade money for time, not time for money. You’re going to run out of time

first.

- Naval @naval

“A 2% annual inflation increase destroys almost 50% in real purchasing

power after 30 years.” Which is why we don’t begin our conversations with potential clients asking

them what they think their risk tolerance is. Our job is to tell them how much risk they MUST tolerate.

- Downtown Josh Brown @ReformedBroker

Source : ACE MF

Management Quality. The single most important factor in choosing Indian

equity. Very forcefully reinforced by the stock markets

- R. Balakrishnan @BalakrishnanR

Lessons from Mukesh Ambani~ 1. Nothing big is ever achieved without courage 2. Feel empathy. By caring we grow higher as

human beings 3. Have faith in technology and talent. It leads to unbeatable creativity and innovation 4. Heart to

heart relations, and loyalty are invaluable

- Harsh Goenka @hvgoenka

INVESTOR JOURNALNovember, 2018

Readers Corner

6

FROM MUTUAL FUNDSTO MUTUAL FRIENDS

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THIS CHILDREN’s DAY, LEARN THE ABCDs OF CHILD PLANS

Children’s day is round the corner and it is the right time to start thinking about our children’s future. November 14, the birthday of our first Prime Minister Jawaharlal Nehru is celebrated as children’s day as he always loved children and took measures for their growth and development.

Children play completely different and the most important role in our lives. For some, they act as an emotional support system; they are the most precious gifts anyone can have. All of us want our kids to do something different, better and beautiful. But what is our responsibility as a parent?

It’s we who play a major role in shaping our kid’s life. So how we support them at each and every phase of life both emotionally and financially is very important supporting your kid financially even before they are born is something that is in your hands. There are a lot of children’s gift plans available in the industry.

What is children’s gift plan?Children’s gift plan is a mutual fund type. It is a hybrid mutual fund (solution oriented).The objective of these funds is to generate wealth for kid’s future goals like education, higher studies, marriage, etc. These funds are best suited for long term investors.

Features of children’s gift fund: » These funds are long term investment plans

» They can have a lock- in period of 5 years or till the kid turns 18 years

» No tax benefit is given

» As the intention is to achieve long term goals like education or marriage and discourage early withdrawals, these funds have higher exit load as compared to other mutual funds

» The exit load may range from 3 to 4%

» Grandparents can also invest in the name of their grandchildren

» At the time of redemption, money is sent to the beneficiary’s account only. (kid’s account)

To read the full Article, Click Here

INVESTOR JOURNALNovember, 2018

Associate Connect

7

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7 key traits an advisor must possess

Integrity – Keeping clients interest at the centre

Integrity is an indispensable quality for an advisor. For a client to trust an advisor with his hard-earned money, he needs to have an irreproachable reputation of keeping the client’s interest first. Only happy clients who trust their advisor are likely to retain them over a long-time and give referrals.

Good listener – Tuning in the client

While developing a financial plan you may be tempted to focus on numerical data about their current investments, monetary value of their goals. However, the approach may not yield the most accurate results. To be the best financial guide to your clients you need to ask thoughtful questions, rather than sticking to the standardised risk-return profile script.

Expertise – Master of all trades, jack of none

Another pre-requisite to be a good advisor is to have deep understanding of the entire bouquet of financial products. This will enable you to provide them with a holistic financial solution, which caters to their investment, tax, insurance and expenditure needs. You may wonder what is the need for providing such a comprehensive and elaborate financial solution. The fact is that all these financial transactions are interlinked. By offering customised tax solutions, you may help your clients save more and thereby invest more

Flexibility – Being open to change

While you may give your client the best possible advice, he may still not be comfortable with your recommendations. This requires you to be flexible in terms of giving him alternate recommendations. You should never be affronted if a client rejects your advice because sometimes it may be due to some deep routed beliefs of the client.

Salesmanship – You are your best promotor

To grow his client base an advisor needs to be able to sell himself. To elaborate, he should be able to describe succinctly what he brings to the table. How his clients have benefitted from his advice. An advisor who can promote himself well will find it easier to acquire new clients.

Empathy – Understanding their point of view

As advisors, you may need to recommend some difficult financial decisions to your clients. Be it redeeming their retirement corpus to pay off a credit card debt or informing them that their past investment decisions were erroneous

Analytical chops – Be the king of numbers

Be it structuring an investment plan, or analysing the best risk adjusted investment options, you need to have a sound analytical background to effectively understand and analyse the data. Thus, when it comes to investments, having understanding of numbers is mandatory.

Courtsey: Edelweiss MF

INVESTOR JOURNALNovember, 2018

Story of The Month

Many of us know that a beautiful and colourful butterfly comes from an unappealing worm! Here is the story of a butterfly that was never able to live its life as a normal butterfly.

One day, a man saw a cocoon. He loved butterflies and had a craze for its wonderful combination of colours. In fact, he used to spend a lot of time around butterflies. He knew how a butterfly would struggle to transform from an ugly caterpillar into a beautiful one.

He saw the cocoon with a tiny opening. It meant that the butterfly was trying to make its way out to enjoy the world. He decided to watch how the butterfly would come out of the cocoon. He was watching the butterfly struggling to break the shell for several hours. He ended up spending over 10 hours with the cocoon and the butterfly. The butterfly had been struggling very hard for hours to come out through the tiny opening. Unfortunately, even after continuous attempts for several hours, there was no progress. It seemed that the butterfly had tried its best and could not give any more try.

COCOON AND THE BUTTERFLY

The man, out of sheer empathy, decided to help the butterfly. He got a pair of scissors and tweaked the cocoon to make larger opening for the butterfly and removed the remaining cocoon. The butterfly emerged without any struggle!

Unfortunately, the butterfly no longer looked beautiful and had a swollen body with small and withered wings.

The man was happy that he had made the butterfly come out of the cocoon without any more struggles. He continued to watch the butterfly and was quite eager to see it fly with its beautiful wings. He thought that at anytime, the butterfly might expand its wings, shrink the body and the wings could support the body.

Unfortunately, neither did the wings expand nor the swollen body reduce. The butterfly just crawled around with withered wings and a huge body. It was never able to fly. Although the man did it with a good intention, he did not know that only by going through struggles the butterfly can emerge to be beautiful, with strong wings.

The continuous effort from the butterfly to come out of its cocoon would let the fluid stored in the body be converted into wings. Thus, the body would become lighter and smaller, and the wings would be beautiful and large.

If we don’t want to undergo any struggle, we won’t be able to fly!

MORAL OF THE STORY:

Courtesy : Karvy Learning Center

Direct Dil Se…

8

Sometimes struggles are exactly what we need in our life. If nature allowed us to go through our life without any obstacles, it would cripple us. We would not be as strong as what we could have

been and we could never fly. Struggles make us shine and fly!

INVESTOR JOURNALNovember, 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

Invesco India Growth Opp Fund(G) 31.44 7744.95 13.11 24872.50 13.86

Mirae Asset Emerging Bluechip-Reg(G) 48.05 7610.11 12.90 37782.06 19.65

Sundaram Large and Mid Cap Fund(G) 31.84 7368.41 12.51 25637.28 14.23

Canara Rob Emerg Equities Fund-Reg(G) 85.87 6658.49 11.37 35020.72 18.47

Principal Emerging Bluechip Fund(G) 98.28 6505.76 11.12 31274.20 16.83

Multi Cap

Parag Parikh Long Term Equity Fund-Reg(G) 23.17 8532.26 14.36 26960.05 14.85

Mirae Asset India Equity Fund-Reg(G) 46.34 8388.80 14.13 28335.52 15.49

Canara Rob Equity Diver Fund-Reg(G) 120.81 7173.09 12.20 20209.48 11.58

Quant Active Fund(G) 172.15 7124.50 12.12 27463.28 15.09

ICICI Pru Multicap Fund(G) 274.83 7071.91 12.04 24834.82 13.85

Mid Cap & Small Cap

HDFC Small Cap Fund-Reg(G) 41.83 9290.45 15.54 32972.40 17.58

Axis Midcap Fund(G) 33.90 7760.73 13.14 27046.33 14.89

L&T Emerging Businesses Fund-Reg(G) 24.17 7706.32 13.05

SBI Small Cap Fund-Reg(G) 48.84 7408.87 12.58 42642.51 21.66

Reliance Small Cap Fund(G) 39.33 6780.90 11.57 37683.06 19.61

ELSS

Invesco India Tax Plan(G) 46.96 7416.64 12.59 26100.14 14.45

Aditya Birla SL Tax Relief '96(G) 29.21 7314.21 12.43 28013.08 15.34

HDFC Long Term Adv Fund(G) 325.24 7210.98 12.26 23147.12 13.03

Aditya Birla SL Tax Plan(G) 36.36 6972.46 11.88 26590.44 14.68

Canara Rob Equity Tax Saver Fund-Reg(G) 58.64 6848.75 11.68 20568.40 11.76

Sector

ICICI Pru Technology Fund(G) 57.70 16151.43 25.69 34718.03 18.34

SBI Technology Opp Fund-Reg(G) 60.35 12840.17 20.91 27853.53 15.27

Franklin India Technology Fund(G) 152.79 12599.77 20.56 27383.66 15.05

DSP Natural Res & New Energy Fund-Reg(G) 10995.94 18.16 38596.97 20.00

SBI Banking & Financial Services Fund-Reg(G) 15.21 9121.78 15.28

Index

HDFC Index Fund-Sensex(G) 304.18 9094.15 15.23 21916.87 12.43

Tata Index Fund-Sensex Plan(G) 84.56 8759.37 14.71 20503.95 11.72

Reliance Index Fund - Sensex Plan(G) 16.96 8555.30 14.39 19947.81 11.44

UTI Nifty Index Fund-Reg(G) 67.40 8352.40 14.07 21187.56 12.07

IDFC Nifty Fund-Reg(G) 21.38 8321.26 14.02 21126.28 12.04

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

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Source : ACE MF

INVESTOR JOURNALNovember, 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

Market Cap

Large-cap 4.21 -2.26 -7.89 -9.23 -7.46 9.76 16.78 13.83

Large and mid cap 2.75 -2.37 -5.86 -5.47 -4.86 8.46 12.58 10.39

Mid-cap 4.55 -0.77 -7.93 -12.34 -10.29 8.71 20.31 7.71

Multi-cap 3.58 -2.36 -9.42 -9.96 -7.16 8.57 15.60 5.88

Small-cap 4.08 -0.81 -10.73 -19.17 -15.22 8.68 21.45 4.32

Sector Funds

Banks & Financial Services 3.22 0.06 -10.94 -7.72 -7.84 12.20 16.22 13.46

Consumption 2.16 -2.42 -7.30 -9.45 -4.59 10.40 14.30 7.30

Energy & Power 3.63 -2.78 -7.08 -13.31 -17.77 15.33 18.35 12.95

Infrastructure 5.64 -1.00 -9.72 -16.52 -17.93 6.35 15.28 5.96

Pharma & Health Care 4.79 -2.35 2.30 1.18 3.68 -4.47 12.06 9.03

Service Industry 1.98 -1.37 -4.97 -6.68 -3.12 5.14 17.35 7.43

TECk 2.38 -7.44 -1.94 2.27 30.81 9.58 13.47 13.19

Speciality

Contra 3.61 -2.85 -7.73 -8.54 -3.60 10.36 16.34 14.93

Dividend Yield 2.98 -3.73 -7.94 -9.07 -8.02 9.18 13.47 13.86

Global 2.51 -5.38 0.46 4.73 9.79 9.60 8.03 9.36

MNC 3.08 -3.12 -8.34 -9.17 -2.14 6.21 19.76 16.12

Equity Exchange Traded Funds 4.02 -2.44 -9.09 -11.39 -9.03 9.11 15.72 7.96

Equity Linked Savings Scheme 3.48 -4.15 -7.87 -2.29 -0.47 9.70 10.89 9.15

Equity Savings Scheme 1.19 -1.01 -2.87 -1.61 0.27 6.34 7.53 5.60

Focused Fund 3.87 -3.10 -9.11 -8.59 -6.81 9.12 15.75 6.89

Index

Nifty 2.56 -5.60 -8.39 -3.17 -0.81 8.96 10.64 10.41

Nifty Next 50 5.39 -2.17 -10.13 -12.69 -10.77 10.63 16.38 4.93

Sensex 2.19 -5.62 -8.13 -1.54 2.82 9.18 10.35 11.28

Others 4.35 -3.42 -8.33 -7.81 -4.19 6.77 11.69 11.72

Aggressive Hybrid Fund 2.44 -2.44 -6.03 -5.66 -4.36 7.81 13.24 8.16

Balanced FundsBalanced advantage 1.90 -0.81 -2.07 -1.70 -0.80 9.77 13.19 10.72

Balanced hybrid 43.09 -8.16 -5.52 0.61 1.53 5.54 6.78 5.70

Capital Protection Funds 25.48 -3.41 -1.56 2.23 2.32 6.04 6.19 5.70

Conservative Hybrid Fund 3.86 -26.51 0.76 0.33 1.89 6.49 9.36 8.37

Dynamic Asset Allocation 43.96 -2.91 -7.56 -1.24 -0.02 6.24 8.71 8.28

Fund of FundsDomestic 0.96 2.47 1.49 1.07 4.85 8.66 12.61 10.71

Overseas -0.16 1.97 1.34 0.32 12.96 7.75 5.36 6.52

Multi Asset Allocation 1.60 -1.11 -2.80 -1.93 0.14 6.62 8.50 9.66

Gold - FOF -25.11 50.75 18.80 0.18 4.90 4.99 -1.15 0.77

Gold Exchange Traded Funds 1.54 53.01 28.73 4.45 8.25 4.90 0.66 4.52

Banking and PSU Fund 6.59 7.04 4.66 5.64 4.50 6.94 7.79 7.59

Corporate Bond 5.93 6.72 3.24 4.75 3.62 6.53 7.73 7.16

Credit Risk Fund 2.52 1.36 0.77 3.69 3.86 7.21 8.42 7.46

Dynamic Bond 10.66 9.07 4.10 4.88 2.22 6.36 7.95 7.31

Fixed Maturity Plans 5.62 7.95 4.94 6.07 5.71 7.55 8.21 5.98

GiltLong Term 24.08 21.89 6.34 7.85 4.07 7.68 9.24 7.69

Short and Medium term 17.90 13.85 5.13 5.87 1.33 6.36 8.36 8.00

Floating Rate 4.88 6.55 5.44 6.18 5.69 7.07 7.73 8.94

Duration

Long duration 29.81 18.01 4.01 6.28 2.15 7.06 8.78 6.41

Low Duration 5.41 6.86 5.76 6.42 6.14 7.27 7.83 7.49

Medium Duration 5.58 6.31 2.55 4.31 3.63 7.06 8.38 7.96

Medium to Long Duration 12.09 10.41 3.44 4.53 1.25 5.65 7.44 7.98

Money Market -12.59 3.13 4.93 6.13 6.35 6.99 7.70 7.47

Overnight 6.07 6.00 6.00 5.90 5.68 6.21 6.98 6.73

Short Duration -1.44 5.06 3.49 4.91 4.28 6.70 7.59 7.27

Speciality-Debt

Interval Funds - Half Yearly 5.64 5.69 5.87 6.37 6.67 7.14 7.73 7.96

Interval Funds - Monthly 6.48 6.45 6.42 6.75 6.84 6.88 7.53 7.85

Interval Funds - Quarterly 7.07 7.46 7.01 7.18 7.24 7.13 7.77 8.10

Interval Funds - Yearly 5.90 6.99 6.41 6.93 6.81 7.34 8.00 8.67

Liquid 7.10 7.05 5.74 6.37 6.64 6.86 7.60 7.28

Ultra Short Term Plan 6.33 7.32 4.32 5.59 5.91 7.05 7.87 7.48

Returns are as on 02nd Nov’18

10Source : ACE MF

INVESTOR JOURNALNovember, 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.

9.10%

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.

9.15%

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.

8.50%

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.

8.40%

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.

7.75%

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.

8.50%

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.

8.55%

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.

9.05%

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.

8.70%

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.

9.50%

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

9.50%

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

11

INVESTOR JOURNALNovember, 2018

Equity Funds Performance

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Diversified

L&T Emerging Businesses Fund-Reg(G) 24.17 -10.29 17.52 21.79

HDFC Small Cap Fund-Reg(G) 41.83 0.46 16.70 20.76 14.47

Mirae Asset Emerging Bluechip-Reg(G) 48.05 -4.65 15.79 28.40 20.76

SBI Small Cap Fund-Reg(G) 48.84 -7.92 14.76 29.73 18.92

Reliance Small Cap Fund(G) 39.33 -8.59 13.94 30.60 18.34

ELSS

HDFC Long Term Adv Fund(G) 325.24 -4.07 12.23 15.52 21.55

L&T Tax Advt Fund-Reg(G) 52.50 -5.77 12.10 16.46 13.97

Principal Tax Savings Fund 197.03 -9.09 12.00 17.53 16.19

IDFC Tax Advt(ELSS) Fund-Reg(G) 52.26 -6.86 11.45 17.01 18.27

Taurus Tax Shield Fund-Reg(G) 72.92 -0.98 11.33 14.17 11.22

Sector

DSP Natural Res & New Energy Fund-Reg(G) -16.66 22.03 21.46 11.42

SBI Banking & Financial Services Fund-Reg(G) 15.21 1.86 17.70 12.05

ICICI Pru Banking & Fin Serv Fund(G) 56.46 -8.43 16.62 21.33 18.50

Aditya Birla SL Banking & Financial Services Fund-Reg(G) 25.32 -9.60 15.89 20.95

SBI Magnum Comma Fund-Reg(G) 34.16 -16.48 14.31 13.94 9.72

Thematic

Reliance US Equity Opp Fund(G) 15.32 27.52 18.90 14.29

ICICI Pru US Bluechip Equity Fund(G) 27.61 27.07 18.13 13.00 17.67

Sundaram Rural and Consumption Fund(G) 39.28 -2.46 15.54 21.44 11.67

Invesco India Contra Fund(G) 46.38 12.88 15.38 25.35 14.30

Franklin Asian Equity Fund(G) 22.00 4.80 15.35 8.47 7.63

Value

Tata Equity P/E Fund(G) 125.24 -9.91 14.23 20.89 19.26

IDFC Sterling Value Fund-Reg(G) 48.88 -11.10 12.29 18.10 16.05

JM Value Fund(G) 29.02 -13.41 11.72 17.36 15.85

L&T India Value Fund-Reg(G) 33.95 -10.12 10.78 22.05 14.87

HDFC Capital Builder Value Fund(G) 272.60 -5.93 10.75 17.03 14.28

Equity Index

ICICI Pru Nifty Next 50 Index Fund(G) 23.67 -10.38 11.20 16.83 10.86

IDBI Nifty Junior Index Fund(G) 20.15 -11.16 10.05 15.92 9.01

HDFC Index Fund-Sensex(G) 304.18 3.20 9.94 11.18 14.78

IDFC Nifty Fund-Reg(G) 21.38 0.68 9.78 11.39 9.34

UTI Nifty Index Fund-Reg(G) 67.40 0.48 9.77 11.33 10.76

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

12

Source : ACE MF

INVESTOR JOURNALNovember, 2018

Debt Funds Performance

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Gilt Funds

SBI Magnum Constant Maturity Fund(G) 38.39 5.94 8.58 9.45 7.82

IDFC G-Sec-Constant Maturity Plan-Reg(G) 26.51 6.12 7.94 9.02 6.03

ICICI Pru Constant Maturity Gilt Fund(G) 14.32 3.81 7.73 9.07

ICICI Pru Gilt Fund(G) 61.11 2.83 7.66 9.30 9.88

Aditya Birla SL G-Sec Fund(G) 49.35 1.44 7.51 9.70 8.73

Liquid Funds

Essel Liquid Fund-Reg(G) 1988.15 7.21 7.32 7.97 8.22

Indiabulls Liquid Fund(G) 1761.48 7.16 7.31 7.96 8.39

Quant Liquid Plan(G) 28.22 6.93 7.31 8.10 8.24

Baroda Pioneer Liquid Fund(G) 2075.16 7.28 7.30 7.94 7.78

JM Liquid Fund(G) 49.42 7.22 7.29 7.94 7.96

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Balanced

Aditya Birla SL Balanced Advantage Fund(G) 50.33 -0.63 10.36 11.93 9.11

HDFC Balanced Advantage Fund(G) 183.73 -1.51 11.77 15.09 17.40

HDFC Balanced Advantage Fund(G)(Adjusted) 183.73 -4.71 9.88 16.32 18.58

ICICI Pru Balanced Advantage Fund(G) 33.12 0.33 8.08 12.41 10.64

Reliance Balanced Advantage Fund(G) 84.85 -1.38 8.89 13.32 16.54

Conservative Hybrid

ICICI Pru Regular Savings Fund(G) 40.24 2.45 8.47 11.16 10.01

Aditya Birla SL Regular Savings Fund(G) 37.34 -4.11 7.73 11.40 9.54

UTI Regular Savings Fund-Reg(G) 39.49 2.11 7.39 10.33 9.66

DHFL Pramerica Hybrid Debt Fund(G) 21.41 2.77 7.06 7.09 7.16

HDFC Hybrid Debt Fund(G) 43.41 -2.43 6.90 10.19 10.38

Arbitrage

Reliance Arbitrage Fund(G) 18.51 6.79 6.30 6.99 7.94

Kotak Equity Arbitrage Scheme(G) 25.80 6.44 6.29 7.23 7.50

Indiabulls Arbitrage Fund-Reg(G) 12.90 6.02 6.26 6.79

Edelweiss Arbitrage Fund-Reg(G) 13.40 6.24 6.26 6.96

ICICI Pru Equity-Arbitrage Fund(G) 23.87 6.36 6.23 7.08 7.62

Gold-FOF

Axis Gold Fund(G) 10.17 10.31 5.09 -1.88 0.24

Canara Rob Gold Savings Fund-Reg(G) 9.63 8.78 4.92 -0.72 -0.59

Aditya Birla SL Gold Fund(G) 10.25 7.39 4.29 -0.22 0.38

HDFC Gold Fund(G) 10.42 7.35 4.72 -0.85 0.59

Reliance Gold Savings Fund(G) 13.45 7.25 4.40 -1.12 3.95

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

Hybrid Funds Performance

13Source : ACE MF

INVESTOR JOURNALNovember, 2018

Global Markets at a Glance

14

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 %

10220

10270

10320

10370

10420

10470

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct 73.70

73.90

74.10

74.30

74.50

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

7.957.977.998.018.038.058.078.09

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

2,700

2,750

2,800

2,850

2,900

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

94.9

95.1

95.3

95.5

95.7

95.9

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

3.14

3.16

3.18

3.20

3.22

3.24

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

3,200

3,250

3,300

3,350

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

1.145

1.150

1.155

1.160

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct 0.500

0.520

0.540

0.560

0.580

5-O

ct

8-O

ct

9-O

ct

10-O

ct

11-O

ct

22,500

23,000

23,500

24,000

4-O

ct

5-O

ct

9-O

ct

10-O

ct

11-O

ct

112.0

112.5

113.0

113.5

114.0

4-O

ct

5-O

ct

9-O

ct

10-O

ct

11-O

ct

0.15

0.15

0.16

0.16

0.17

4-O

ct

5-O

ct

9-O

ct

10-O

ct

11-O

ct

2,550

2,600

2,650

2,700

2,750

8-O

ct

9-O

ct

10-O

ct

11-O

ct

6.88

6.89

6.90

6.91

6.92

6.93

6.94

8-O

ct

9-O

ct

10-O

ct

11-O

ct

3.58

3.59

3.60

3.61

3.62

3.63

3.64

8-O

ct

9-O

ct

10-O

ct

11-O

ct

Source: Bloomberg, Karvy Research

INVESTOR JOURNALNovember, 2018

Indices Watch

Index NameAs on

30-Sep-18As on

30-Oct-18%

Change

S&P BSE 100 11140.99 10661.72 -4.30%

S&P BSE 200 4631.60 4440.16 -4.13%

S&P BSE 500 14445.89 13881.71 -3.91%

S&P BSE AUTO Index 21476.52 19881.08 -7.43%

S&P BSE BANKEX 27992.18 28359.59 1.31%

S&P BSE Capital Goods 17108.89 17488.58 2.22%

S&P BSE Con Durables 19134.28 19142.33 0.04%

S&P BSE DOLLEX 30 4095.62 3830.77 -6.47%

S&P BSE FMCG 11502.75 11127.84 -3.26%

S&P BSE GREENEX 2759.91 2656.69 -3.74%

S&P BSE Health Care 15025.34 14726.58 -1.99%

S&P BSE IT 15628.94 14531.60 -7.02%

S&P BSE METAL Index 13278.79 12524.55 -5.68%

S&P BSE Mid-Cap 14763.20 14612.59 -1.02%

S&P BSE O & G Index 14855.41 13246.92 -10.83%

S&P BSE Power Index 1929.43 1958.13 1.49%

S&P BSE PSU 7171.38 7080.27 -1.27%

S&P BSE Realty Index 1702.94 1679.80 -1.36%

S&P BSE SENSEX 36227.14 34442.05 -4.93%

S&P BSE Small-Cap 14430.68 14201.37 -1.59%

S&P BSE TECk Index 7730.69 7234.59 -6.42%

Indian Indices:

Index NameAs on

30-Sep-18As on

30-Oct-18%

Change

NIFTY PHARMA 9972.45 9757.50 -2.16%

INDIA VIX 17.00 19.80 16.49%

NIFTY IT 15838.05 14940.10 -5.67%

NIFTY SERV SECTOR 14471.50 14193.50 -1.92%

Nifty Financial Services 10577.10 10639.95 0.59%

NIFTY BANK 25119.85 25153.25 0.13%

NIFTY 50 10930.45 10386.60 -4.98%

NIFTY FMCG 29757.70 28547.10 -4.07%

NIFTY 100 11126.40 10604.60 -4.69%

NIFTY 100 11126.40 10604.60 -4.69%

NIFTY CONSUMPTION 4793.20 4592.15 -4.19%

NIFTY 200 5735.05 5498.40 -4.13%

NIFTY MNC 13412.50 12960.65 -3.37%

NIFTY 500 9116.00 8753.45 -3.98%

NIFTY ENERGY 15697.20 13753.35 -12.38%

Nifty 500 Shariah 2932.06 2821.15 -3.78%

NIFTY DIV OPPS 50 2664.40 2540.80 -4.64%

NIFTY AUTO 9590.25 8820.55 -8.03%

Nifty Midcap 50 4622.85 4730.90 2.34%

NIFTY PSU BANK 2700.45 2915.85 7.98%

NIFTY MEDIA 2447.50 2489.40 1.71%

NIFTY COMMODITIES 3686.50 3345.95 -9.24%

NIFTY METAL 3485.35 3296.95 -5.41%

NIFTY INFRA 2967.30 2969.90 0.09%

NIFTY PSE 3560.45 3384.35 -4.95%

NIFTY REALTY 219.60 214.90 -2.14%

Global Indices:

Index NameAs on

30-Sep-18As on

30-Oct-18%

Change

All Ordinaries 6325.50 5913.30 -6.52%

BEL-20 3706.74 3447.07 -7.01%

Bovespa 79342.00 87424.00 10.19%

CAC 40 5493.49 5093.44 -7.28%

DAX 12246.73 11447.51 -6.53%

Dow Jones 26458.31 25115.76 -5.07%

FTSE 100 7510.20 7128.10 -5.09%

Nikkei 225 24120.04 21920.46 -9.12%

NYSE 13082.52 12208.06 -6.68%

S&P 500 2913.98 2711.74 -6.94%

Straits Times 3257.05 3018.80 -7.31%

Taiwan Weighted 11006.34 9802.13 -10.94%

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/03112018/58

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

Phone : 040 3321 7132

Production: Naga Babu K

15

Source : ACE MF