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1Birla Sun Life Mutual Fund •

Abridged Annual Report for 2010-2011 •Abridged Annual Report for 2010-2011 •Abridged Annual Report for 2010-2011 •Abridged Annual Report for 2010-2011 •Abridged Annual Report for 2010-2011 • Birla Sun Life Frontline Equity FundBirla Sun Life Frontline Equity FundBirla Sun Life Frontline Equity FundBirla Sun Life Frontline Equity FundBirla Sun Life Frontline Equity Fund

Abridged Annual Report for 2010-2011Abridged Annual Report for 2010-2011Abridged Annual Report for 2010-2011Abridged Annual Report for 2010-2011Abridged Annual Report for 2010-2011

BIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUND,,,,, One India Bulls, Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road. Mumbai - 400 013

Dear Investor,Dear Investor,Dear Investor,Dear Investor,Dear Investor,

Greetings from Birla Sun Life Mutual Fund!Greetings from Birla Sun Life Mutual Fund!Greetings from Birla Sun Life Mutual Fund!Greetings from Birla Sun Life Mutual Fund!Greetings from Birla Sun Life Mutual Fund!

The Directors of the Trustee Company have pleasure in presenting before you the Abridged AnnualReport of the scheme "Birla Sun Life Frontline Equity Fund" of Birla Sun Life Mutual Fund for thefinancial year ended March 31, 2011.

A. Scheme Performance, Future Outlook and Operations of the SchemeA. Scheme Performance, Future Outlook and Operations of the SchemeA. Scheme Performance, Future Outlook and Operations of the SchemeA. Scheme Performance, Future Outlook and Operations of the SchemeA. Scheme Performance, Future Outlook and Operations of the Scheme

The total domestic assets under management of Birla Sun Life Mutual Fund as on March 31,2011 were Rs. 54,256/- crores. The average domestic assets under management for the monthof March 2011 stood at Rs. 65,076/- crores, an increase of over 4% from Rs. 62343 crores inMarch 31, 2010, whereas, based on the comparison of data as available, the Industry assetsunder management have shrunk by 6% for the same period. The numbers of live investorscheme accounts as on March 31, 2011 stood to 24.28 Lac.

The performance of Birla Sun Life Frontline Equity Fund, an Open ended Growth Scheme as onMarch 31, 2011 is presented below:

Scheme NameScheme NameScheme NameScheme NameScheme Name Returns (in percentage)Returns (in percentage)Returns (in percentage)Returns (in percentage)Returns (in percentage) NAV as onNAV as onNAV as onNAV as onNAV as on Net AssetsNet AssetsNet AssetsNet AssetsNet Assets

1 Year1 Year1 Year1 Year1 Year 3 Years3 Years3 Years3 Years3 Years 5 Years5 Years5 Years5 Years5 Years SinceSinceSinceSinceSince March 31,March 31,March 31,March 31,March 31, as onas onas onas onas on

InceptionInceptionInceptionInceptionInception 20202020201 11 11 11 111 MarchMarchMarchMarchMarch

31, 2031, 2031, 2031, 2031, 201 11 11 11 11 1(Rs. In crs)(Rs. In crs)(Rs. In crs)(Rs. In crs)(Rs. In crs)

Birla Sun Life FrontlineBirla Sun Life FrontlineBirla Sun Life FrontlineBirla Sun Life FrontlineBirla Sun Life Frontline 11.32 13.42 17.26 29.13 89.90 2921.71Equity FundEquity FundEquity FundEquity FundEquity Fund

BSE200 8.15 7.17 10.98 16.19

Inception - August 30,2002

• Returns for the period upto one year are absolute returns and for the periodmore than one year are compounded annualised returns, with re-investment of

dividends, if any.

• Returns have been calculated after considering reinvestment of dividends, ifany, on the ex-date.

• Past Performance may or may not be sustained in the future.

Note: During the annual period under review, certain Plan/Option offered under the scheme/shave been discontinued and consolidated into the following Plan/Option as per Addendum No.01/2011.

Discontinuation ofDiscontinuation ofDiscontinuation ofDiscontinuation ofDiscontinuation of Consolidation intoConsolidation intoConsolidation intoConsolidation intoConsolidation into(Source Plan/Option)(Source Plan/Option)(Source Plan/Option)(Source Plan/Option)(Source Plan/Option) (Target Plan/Option)(Target Plan/Option)(Target Plan/Option)(Target Plan/Option)(Target Plan/Option)

Plan B - Dividend Plan A - Dividend

Plan B - Growth Plan A - Growth

Considering the overall Equity and Debt market scenario for the period under reviewand when compared with respective benchmarks, the Trustees are satisfied with th eperformance of schemes and are of the view that the Scheme have generally performedin line with the expectations of the Unitholders.

Equity Markets - Outlook:Equity Markets - Outlook:Equity Markets - Outlook:Equity Markets - Outlook:Equity Markets - Outlook:

The year 2010-11 was a year of consolidation with benchmark indices returning 12.4% overpast one year. In comparison MSCI World Index and MSCI Emerging Markets Index delivered14.3% and 18.9% on currency (INR) adjusted basis. The year gone by also witnessed FII inflowsin line with last year, amounting to Rs. 110,121 Crs. As we begin a new fiscal year, globalmarkets seem to be comfortably climbing the wall of worries, though, recent earthquake inJapan has added a some more uncertainty to the strength and pace of global recovery. Ondomestic front, there are some macro-economic concerns relating to high inflation and risksassociated with elevated crude oil prices and slowdown in investments.

In coming years, moderate inflation and improving governance should be able to drive investmentsand growth. This in turn would reflect in corporate sector earnings and hence stock returns aswell.

Consensus GDP growth estimates for India has witnessed some downgrades to factor in someof the macro headwinds. Corporate earnings have also witnessed similar changes. Even afterthese cuts, corporate earnings are expected to grow.

Debt Markets - Outlook:Debt Markets - Outlook:Debt Markets - Outlook:Debt Markets - Outlook:Debt Markets - Outlook:

As commodity inflation cools down over the next few months, we think Indian equity marketswill be in a bit of sweet spot. With the Indian demand story expected to remain robust and costpressures subsiding, Indian equities should be able outperform other equity markets. Clearly theprimary risk to this view is that either commodity prices do not cool or Indian inflation remainselevated due to demand pressures. The on-going anti-inflationary tightening stance of thecentral bank that may bring in another 50-75bps hike on the repo, which should not be anegative surprise to the markets. We think there is a fair chance that our Big inflation problemis already behind us.

With clear signs of a private investment activity slowdown and the corrective action against thedemand side (non-food manufacturing) inflation we would expect the turnaround in centralbank's hawkish stance to come about in September 2011 with the beginning of open marketoperations. The OMO's from the central bank may be followed by cuts in cash reserve ratios byNovember-December to comfort the banking system liquidity.

B.B.B.B.B. Brief background of Sponsors, Trust, Trustee Company and AMC CompanyBrief background of Sponsors, Trust, Trustee Company and AMC CompanyBrief background of Sponsors, Trust, Trustee Company and AMC CompanyBrief background of Sponsors, Trust, Trustee Company and AMC CompanyBrief background of Sponsors, Trust, Trustee Company and AMC Company

Birla Sun Life Mutual FundBirla Sun Life Mutual FundBirla Sun Life Mutual FundBirla Sun Life Mutual FundBirla Sun Life Mutual Fund

Birla Sun Life Mutual Fund (BSLMF) is a Trust with the Sponsors being Aditya Birla FinancialServices Private Limited (wholly owned subsidiary of Aditya Birla Nuvo Ltd.) and Sun Life (India)AMC Investments Inc. It was set up on December 16, 1994 with Birla Sun Life Trustee CompanyPvt Ltd. (the Trustee Company) as a Trustee in accordance with the provisions of the IndianTrusts Act, 1882 and is duly registered under the Indian Registration Act, 1908. The Trustee hasentered into an Investment Management Agreement dated December 16, 1994 with Birla SunLife Asset Management Co. Ltd. (BSLAMC) to function as the Investment Manager for all theSchemes of BSLMF. BSLMF was registered with SEBI on December 23, 1994 under RegistrationCode MF/020/94/8.

Birla Sun Life Trustee Company Pvt Ltd.Birla Sun Life Trustee Company Pvt Ltd.Birla Sun Life Trustee Company Pvt Ltd.Birla Sun Life Trustee Company Pvt Ltd.Birla Sun Life Trustee Company Pvt Ltd.

The Trustee is the exclusive owner of the Trust Fund and holds the same in trust for the benefitof the unitholders. The Trustee has been discharging its duties and carrying out the responsibilitiesas provided in the Regulations and the Trust Deed. The Trustee seeks to ensure that the Fundand the Schemes floated there under are managed by the AMC in accordance with the TrustDeed, the Regulations, directions and guidelines issued by the SEBI, the Stock Exchanges, theAssociation of Mutual Funds in India and other regulatory authority.

The most important responsibility of the Trustee is to safeguard the interests of the Unit holderswhich is done by ensuring that the activities of Birla Sun Life Mutual Fund are managed byBSLAMC (Investment Manager) in compliance with the SEBI (Mutual Funds) Regulations, 1996as amended from time to time read with the Investment Management Agreement and TrustDeed. On the basis of the information provided and reviews undertaken, the Trustees herebyconfirm that BSLAMC has operated in the interests of the Unit holders.

C.C.C.C.C. Investment Objective of the SchemeInvestment Objective of the SchemeInvestment Objective of the SchemeInvestment Objective of the SchemeInvestment Objective of the Scheme

Birla Sun Life Frontline Equity Fund:Birla Sun Life Frontline Equity Fund:Birla Sun Life Frontline Equity Fund:Birla Sun Life Frontline Equity Fund:Birla Sun Life Frontl ine Equity Fund: (An Open ended Growth Scheme) with the objective oflong-term growth of capital, through a portfolio with a target allocation of 100% equity byaiming at being as diversified across various industries and or sectors as its chosen benchmarkindex, BSE 200. The secondary objective is income generation and distribution of dividend.

ABRIDGED TRUSTEE REPORTABRIDGED TRUSTEE REPORTABRIDGED TRUSTEE REPORTABRIDGED TRUSTEE REPORTABRIDGED TRUSTEE REPORT

LIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFETRUSTEE COMPANY PVT. LTD.:TRUSTEE COMPANY PVT. LTD.:TRUSTEE COMPANY PVT. LTD.:TRUSTEE COMPANY PVT. LTD.:TRUSTEE COMPANY PVT. LTD.:Mr. Prafull AnubhaiDr. V.S. Arunachalam

Mr. Suresh TalwarMr. B.N. PuranmalkaMr. Gurcharan Das

LIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFELIST OF DIRECTORS OF BIRLA SUN LIFEASSET MANAGEMENT COMPANYASSET MANAGEMENT COMPANYASSET MANAGEMENT COMPANYASSET MANAGEMENT COMPANYASSET MANAGEMENT COMPANYLTD.:LTD.:LTD.:LTD.:LTD.:Mr. Kumar Mangalam BirlaMr. Donald StewartMr. Ajay SrinivasanMr. Ashok GoenkaMr. Sundar RamanMr. N.N. JambusariaMr. N.C. SinghalMr. Venkatesh MysoreProf. R VaidyanathanMr. R.C.BhargavaMr. Pankaj Razdan

Mr. Dikran Ohannessian

CHIEF EXECUTIVE OFFICER:CHIEF EXECUTIVE OFFICER:CHIEF EXECUTIVE OFFICER:CHIEF EXECUTIVE OFFICER:CHIEF EXECUTIVE OFFICER:Mr. A. Balasubramanian

STATUTORY AUDITORS:STATUTORY AUDITORS:STATUTORY AUDITORS:STATUTORY AUDITORS:STATUTORY AUDITORS:

S.R. Batliboi & Co.Chartered Accountants,6th Floor, Express Towers,Nariman Point,Mumbai - 400 021

REGISTRAR & TRANSFER AGENTS:REGISTRAR & TRANSFER AGENTS:REGISTRAR & TRANSFER AGENTS:REGISTRAR & TRANSFER AGENTS:REGISTRAR & TRANSFER AGENTS:Computer Age Management Services Pvt. Ltd.Rayala Towers, 158 Anna Salai,Chennai - 600 002

CUSTODIAN:CUSTODIAN:CUSTODIAN:CUSTODIAN:CUSTODIAN:JP Morgan Chase Bank6th floor,Paradigm B wing,Mindspace,Mumbai - 400 064

Birla Sun Life Frontline Equity Fund





AUDITORS' REPORTAUDITORS' REPORTAUDITORS' REPORTAUDITORS' REPORTAUDITORS' REPORT

To the Trustee of

BIRLA SUN LIFE MUTUAL FUND - BIRLA SUN LIFE FRONTLINE EQUITY FUNDBIRLA SUN LIFE MUTUAL FUND - BIRLA SUN LIFE FRONTLINE EQUITY FUNDBIRLA SUN LIFE MUTUAL FUND - BIRLA SUN LIFE FRONTLINE EQUITY FUNDBIRLA SUN LIFE MUTUAL FUND - BIRLA SUN LIFE FRONTLINE EQUITY FUNDBIRLA SUN LIFE MUTUAL FUND - BIRLA SUN LIFE FRONTLINE EQUITY FUND

1. We have audited the attached balance sheet of Birla Sun Life Mutual Fund - BirlaBirla Sun Life Mutual Fund - BirlaBirla Sun Life Mutual Fund - BirlaBirla Sun Life Mutual Fund - BirlaBirla Sun Life Mutual Fund - BirlaSun Life Frontline Equity FundSun Life Frontline Equity FundSun Life Frontline Equity FundSun Life Frontline Equity FundSun Life Front line Equit y Fu nd ('the Scheme') as at 31 March 2011 and also therevenue account and cash flow statement for the year ended on that date annexedthereto. These financial statements are the responsibility of the management of BirlaSun Life Asset Management Company Limited, the Scheme's asset manager. Ourresponsibility is to express an opinion on these financial statements based on ouraudit.

2. We conducted our audit in accordance with auditing standards generally acceptedin India. Those standards require that we plan and perform the audit to obtainreasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting theamounts and disclosures in the financial statements. An audit also includes assessingthe accounting principles used and significant estimates made by management, aswell as evaluating the overall financial statement presentation. We believe that ouraudit provides a reasonable basis for our opinion.

3. We report that:

i. We have obtained all the information and explanations, which to the best of ourknowledge and belief were necessary for the purposes of our audit.

ii. The balance sheet, revenue account and cash flow statement dealt with by this reportare in agreement with the books of account.

iii. In our opinion, the balance sheet and revenue account dealt with by this report havebeen prepared in conformity with the accounting policies and standards specified inthe Ninth Schedule to the Securities and Exchange Board of India (Mutual Funds)Regulations, 1996 ('the SEBI Regulations').

iv. In our opinion, and on the basis of information and explanations given to us, themethods used to value non traded securities as at 31 March 2011 are in accordancewith the SEBI Regulations and other guidelines issued by the Securities and ExchangeBoard of India as applicable and approved by the Board of Directors of Birla Sun LifeTrustee Company Private Limited, and are fair and reasonable.

v. In our opinion, and to the best of our information and according to the explanationsgiven to us, the said financial statements give the information required by the SEBIRegulations as applicable, and give a true and fair view in conformity with theaccounting principles generally accepted in India:

a) in the case of the balance sheet, of the state of affairs of the Scheme as at 31March 2011;

b) in the case of the revenue account, of the surplus for the year ended on thatdate; and

c) in the case of the cash flow statement, of the cash flows for the year ended onthat date.

For S. R. Batliboi & Co.For S. R. Batliboi & Co.For S. R. Batliboi & Co.For S. R. Batliboi & Co.For S. R. Batliboi & Co.

Firm Registration No. 301003E

Chartered Accountants

per Surekha Graciasper Surekha Graciasper Surekha Graciasper Surekha Graciasper Surekha Gracias

Partner

Membership No: 105488

Mumbai, 29 June 2011

D.D.D.D.D. Summary of Significant Accounting Policies:Summary of Significant Accounting Policies:Summary of Significant Accounting Policies:Summary of Significant Accounting Policies:Summary of Significant Accounting Policies:

Accounting policies are in accordance with Securities Exchange Board of India (Mutual Fund)Regulations 1996. The financial statements are prepared on the accrual basis of accounting,under the historical cost convention, as modified for investments, which are 'marked-to-market'.The significant accounting policies, which are in accordance with the SEBI Regulations andform part of the full Annual report is available on the website - www.birlasunlife.com.

E .E.E .E.E. Unclaimed Dividends & Redemptions.Unclaimed Dividends & Redemptions.Unclaimed Dividends & Redemptions.Unclaimed Dividends & Redemptions.Unclaimed Dividends & Redemptions.

Unclaimed Dividends as on March 31, 2011Unclaimed Dividends as on March 31, 2011Unclaimed Dividends as on March 31, 2011Unclaimed Dividends as on March 31, 2011Unclaimed Dividends as on March 31, 2011Scheme Name Scheme Name Scheme Name Scheme Name Scheme Name No of Investors No of Investors No of Investors No of Investors No of Investors (Amount in Rs) (Amount in Rs) (Amount in Rs) (Amount in Rs) (Amount in Rs)

Birla Sun Life Frontline Equity Fund 3584 4,483,357.43

Unclaimed Redemptions as on March 31, 2011Unclaimed Redemptions as on March 31, 2011Unclaimed Redemptions as on March 31, 2011Unclaimed Redemptions as on March 31, 2011Unclaimed Redemptions as on March 31, 2011

Scheme Name Scheme Name Scheme Name Scheme Name Scheme Name No of Investors No of Investors No of Investors No of Investors No of Investors Amount (in Rs.) Amount (in Rs.) Amount (in Rs.) Amount (in Rs.) Amount (in Rs.)

Birla Sun Life Frontline Equity Fund 799.00 15,140,896.08

F.F.F.F.F. Statutory Information:Statutory Information:Statutory Information:Statutory Information:Statutory Information:

• The Sponsors are not responsible or liable for any loss resulting from the operationof the Schemes of the Fund beyond their initial contribution (to the extent contributed)of Rs. 1 Lac for setting up the Fund, and such other accretions / additions to thesame.

• The price and redemption value of the units, and income from them, can go up aswell as down with fluctuations in the market value of its underlying investments.

• Full Annual Report shall be disclosed on the website (www.birlasunlife.com) andshall be available for inspection at the Head Office of the mutual fund. On writtenrequest, present and prospective unit holder can obtain copy of the trust deed, thefull Annual Report of the Fund / AMC at a price.

G .G .G .G .G. Redressal of complaints received against mutual funds during 2010-11Redressal of complaints received against mutual funds during 2010-11Redressal of complaints received against mutual funds during 2010-11Redressal of complaints received against mutual funds during 2010-11Redressal of complaints received against mutual funds during 2010-11

Please refer the Annexure 1 to this report on the last page for the details related to"Disclosure of investor complaints with respect to Mutual Funds".

H.H.H.H.H. General Policies and Procedures for exercising the voting rights:General Policies and Procedures for exercising the voting rights:General Policies and Procedures for exercising the voting rights:General Policies and Procedures for exercising the voting rights:General Policies and Procedures for exercising the voting rights: In view ofSEBI guidelines related to "Role of Mutual Funds in Corporate Governance of PublicListed Companies", the company has formulated its "Policy for Proxy Voting in PublicListed Companies". The said policy and details of actual exercise of proxy votesduring the Financial Year 2010 - 2011 is avai lable on its website -www.birlasunlife.com."

AcknowledgementsAcknowledgementsAcknowledgementsAcknowledgementsAcknowledgements

The Trustees thank SEBI, AMFI, the Investors, Investor Service Centers, Distributors, Key

Partners, Service Provides, BSLAMC and its employees for their commitment and looksforward to their continued support.

For and on behalf of Birla Sun Life Trustee Company Private LimitedFor and on behalf of Birla Sun Life Trustee Company Private LimitedFor and on behalf of Birla Sun Life Trustee Company Private LimitedFor and on behalf of Birla Sun Life Trustee Company Private LimitedFor and on behalf of Birla Sun Life Trustee Company Private Limited

Prafull AnubhaiPrafull AnubhaiPrafull AnubhaiPrafull AnubhaiPrafull Anubhai

ChairmanChairmanChairmanChairmanChairman

June 29, 2011June 29, 2011June 29, 2011June 29, 2011June 29, 2011

MumbaiMumbaiMumbaiMumbaiMumbai





BIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUND

One India Bulls Centre , Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 40 0 013.

ABRIDGED BALANCE SHEET AS AT MARCH 31, 2011ABRIDGED BALANCE SHEET AS AT MARCH 31, 2011ABRIDGED BALANCE SHEET AS AT MARCH 31, 2011ABRIDGED BALANCE SHEET AS AT MARCH 31, 2011ABRIDGED BALANCE SHEET AS AT MARCH 31, 201 1

(Rupees in Lakhs)(Rupees in Lakhs)(Rupees in Lakhs)(Rupees in Lakhs)(Rupees in Lakhs)

As atAs atAs atAs atAs at As atAs atAs atAs atAs at

March 31, 2011March 31, 2011March 31, 2011March 31, 2011March 31, 2011 March 31, 2010March 31, 2010March 31, 2010March 31, 2010March 31, 2010LIABILITIESLIABILITIESLIABILITIESLIABILITIESLIABILITIES

1 Unit CapitalUnit CapitalUnit CapitalUnit CapitalUnit Capital 71,503.20 57,528.80

2 Reserves & SurplusReserves & SurplusReserves & SurplusReserves & SurplusReserves & Surplus

2.1 Unit Premium Reserves 80,601.05 48,661.34

2.2 Unrealised Appreciation Reserve 45,077.16 37,097.26

2.3 Other Reserves 95,438.88 61,645.84

3 Loans & BorrowingsLoans & BorrowingsLoans & BorrowingsLoans & BorrowingsLoans & Borrowings - -

4 Current Liabilities & ProvisionsCurrent Liabilities & ProvisionsCurrent Liabilities & ProvisionsCurrent Liabilities & ProvisionsCurrent Liabilities & Provisions

4.1 Provision for doubtful Income/Deposits - -

4.2 Other Current Liabilities & Provisions 1,453.07 2,108.98

TOTALTOTALTOTALTOTALTOTAL 294,073.36294,073.36294,073.36294,073.36294,073.36 207,042.22207,042.22207,042.22207,042.22207,042.22

ASSETSASSETSASSETSASSETSASSETS

1 InvestmentsInvestmentsInvestmentsInvestmentsInvestments

1.1. Listed Securities:Listed Securities:Listed Securities:Listed Securities:Listed Securities:1.1.1 Equity Shares 276,743.69 190,076.65

1.1.2 Preference Shares - -

1.1.3 Equity Linked Debentures - -

1.1.4 Other Debentures & Bonds 121.76 -

1.1.5 Securitised Debt securities - -

1.1.6 Future & Option - 100.27

1.2 Securities Awaited Listing:Securities Awaited Listing:Securities Awaited Listing:Securities Awaited Listing:Securities Awaited Listing:

1.2.1 Equity Shares - -

1.2.2 Preference Shares - -


1.2.4 Other Debentures & Bonds - -


1 .3 Un li st ed Securi ti es

1.3.1 Equity Shares - -1.3.2 Preference Shares - -


1.3.4 Other Debentures & Bonds - -


1.4 Government Securities - -

1.5 Treasury Bills - -

1.6 Commercial Paper - -

1.7 Certificate of Deposits - -

1.8 Bill Rediscounting - -

1.9 Units of Domestic Mutual Fund 5,001.27 -

1.10 Foreign Securities - -

Total InvestmentsTotal InvestmentsTotal InvestmentsTotal InvestmentsTotal Investments 281,866.72281,866.72281,866.72281,866.72281,866.72 190,176.92190,176.92190,176.92190,176.92190,176.92

2 DepositsDepositsDepositsDepositsDeposits - 1,500.00

3 Other Current Assets3.1 Cash & Bank Balance 6,759.51 5,217.81

3.2 CBLO/ Reverse Repo Lending - 6,268.88

3.3 Others 5,447.13 3,878.61

4 Deferred Revenue Expenditure - -

(to the extent not written off)

TOTALTOTALTOTALTOTALTOTAL 294,073.36294,073.36294,073.36294,073.36294,073.36 207,042.22207,042.22207,042.22207,042.22207,042.22

Notes to Accounts - Annexure I





ABRIDGED REVENUE ACCOUNT FOR THE YEAR ENDING MARCH 31, 2011ABRIDGED REVENUE ACCOUNT FOR THE YEAR ENDING MARCH 31, 2011ABRIDGED REVENUE ACCOUNT FOR THE YEAR ENDING MARCH 31, 2011ABRIDGED REVENUE ACCOUNT FOR THE YEAR ENDING MARCH 31, 2011ABRIDGED REVENUE ACCOUNT FOR THE YEAR ENDING MARCH 31, 2011(Rupees in Lakhs)(Rupees in Lakhs)(Rupees in Lakhs)(Rupees in Lakhs)(Rupees in Lakhs)

Current YearCurrent YearCurrent YearCurrent YearCurrent Year Previous YearPrevious YearPrevious YearPrevious YearPrevious Year

endedendedendedendedended

endedendedendedendedended

March 31, 2011March 31, 2011March 31, 2011March 31, 2011March 31, 2011 March 31, 2010March 31, 2010March 31, 2010March 31, 2010March 31, 2010

1 INCOMEINCOMEINCOMEINCOMEINCOME

1.1 Dividend 2,758.56 1,128.52

1.2 Interest 745.22 304.10

1.3 Realised Gain / (Loss) on Foreign Exchange Transactions - -

1.4 Realised Gains / (Losses) on Interscheme sale of investments - -

1.5 Realised Gains / (Losses) on External sale / redemption of investments 19,602.73 15,176.64

1.6 Realised Gains / (Losses) on Derivative Transactions - 2,510.10

1.7 Other Income 20.40 13.41

( A )( A )( A )( A )( A ) 23,126.9123,126.9123,126.9123,126.9123,126.91 19,132.7719,132.7719,132.7719,132.7719,132.77

2 EXPENSESEXPENSESEXPENSESEXPENSESEXPENSES

2.1 Management fees 2,561.53 651.64

2.2 Service tax on Management fees 263.85 67.12

2.3 Transfer agents fees and expenses 390.70 282.662.4 Custodian fees 32.62 20.13

2.5 Trusteeship fees 0.26 0.14

2.6 Commission to Agents 999.11 856.27

2.7 Marketing & Distribution expenses 289.49 484.02

2.8 Audit fees 1.75 1.75

2.9 Other operating expenses 199.89 113.79

( B )( B )( B )( B )( B ) 4,739.204,739.204,739.204,739.204,739.20 2,477.522,477.522,477.522,477.522,477.52

3 NET REALISED GAINS / (LOSSES) FO R THE YEAR / PERIOD (A -B = C)NET REALISED GAINS / (LOSSES) F OR THE YEAR / PERIOD (A -B = C)NET REALISED GAINS / (LOSSES) FO R THE YEAR / PERIOD (A -B = C)NET REALISED GAINS / (LOSSES) F OR THE YEAR / PERIOD (A -B = C)NET REALISED GAINS / (LOSSES) F OR THE YEAR / PERIOD (A -B = C) 18,387.7118,387.7118,387.7118,387.7118,387.71 16,655.2516,655.2516,655.2516,655.2516,655.25

4 Change in Unrealised Depreciation in value of investments (D) - (40,836.65)

5 NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D))NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D))NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D))NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D))NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D)) 18,387.7118,387.7118,387.7118,387.7118,387.71 57,491.9057,491.9057,491.9057,491.9057,491.90

6 Change in unrealised appreciation in the value of investments (F) 7,979.90 16.41

7 NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIO D ( E + F = G )NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIOD ( E + F = G )NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIO D ( E + F = G )NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIOD ( E + F = G )NET SURPLUS / (DEFICIT) FOR THE YEAR / PERI OD ( E + F = G ) 26,367.6126,367.6126,367.6126,367.6126,367.61 57,508.3157,508.3157,508.3157,508.3157,508.31

7.1 Add: Balance transfer from Unrealised Appreciation Reserve, Reserves - -

7.2 Less: Balance transfer to Unrealised Appreciation Reserve, Reserves 6,863.59 37,013.407.3 Add / (Less): Equalisation 27,468.35 56,964.72

8 TotalTotalTotalTotalTotal 46,972.3746,972.3746,972.3746,972.3746,972.37 77,459.6377,459.6377,459.6377,459.6377,459.63

9 Dividend appropriationDividend appropriationDividend appropriationDividend appropriationDividend appropriation

9.1 Income Distributed during the year / period 12,063.02 10,985.26

9.2 Tax on income distributed during the year / period - -

10 Retained Surplus / (Deficit) carried forward to Balance sheetRetained Surplus / (Deficit) carried forward to Balance sheetRetained Surplus / (Deficit) carried forward to Balance sheetRetained Surplus / (Deficit) carried forward to Balance sheetRetained Surplus / (Deficit) carried forward to Balance sheet 34,909.3534,909.3534,909.3534,909.3534,909.35 66,474.3766,474.3766,474.3766,474.3766,474.37

Notes to Accounts - Annexure I


One India Bulls Centre , Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013.






One India Bulls Centre , Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 40 0 013.

KEY STATISTICS FOR THE YEAR ENDED MARCH 31, 20 11KEY STATISTICS FOR THE YEAR ENDED MARCH 31, 20 11KEY STATISTICS FOR THE YEAR ENDED MARCH 31, 20 11KEY STATISTICS FOR THE YEAR ENDED MARCH 31, 20 11KEY STATISTICS FOR THE YEAR ENDED MARCH 31, 2 011

Current Year ended March 31, 2011Current Year ended March 31, 2011Current Year ended March 31, 2011Current Year ended March 31, 2011Current Year ended March 31, 2011 Previous Year ended March 31, 2010Previous Year ended March 31, 2010Previous Year ended March 31, 2010Previous Year ended March 31, 2010Previous Year ended March 31, 2010

1.1.1.1.1. NAV per unit (Rs.):NAV per unit (Rs.):NAV per unit (Rs.):NAV per unit (Rs.):NAV per unit (Rs.):

OpenOpenOpenOpenOpen Plan A - Dividend Option 21.77 13.15

Plan A - Growth Option 80.76 41.40

Plan B - Dividend Option 12.21 N/A

Plan B - Growth Option 12.21 N/A

HighHighHighHighHigh Plan A - Dividend Option 24.99 24.28

Plan A - Growth Option 97.94 82.13

Plan B - Dividend Option 14.80 12.41

Plan B - Growth Option 14.80 12.41

LowLowLowLowLow Dividend Option 19.58 13.15

Growth Option 75.33 41.40

Dividend Option - 9.87

Growth Option - 9.87

EndEndEndEndEnd Dividend Option 21.61 21.77

Growth Option 89.90 80.76

Dividend Option - 12.21Growth Option - 12.21

2.2.2.2.2. Closing Assets Under Management (Rs. in Lakhs)Closing Assets Under Management (Rs. in Lakhs)Closing Assets Under Management (Rs. in Lakhs)Closing Assets Under Management (Rs. in Lakhs)Closing Assets Under Management (Rs. in Lakhs)

End 292,620 204,933

Average (AAuM)1 253,665 124,784

3.3.3.3.3. Gross income as % of AAuMGross income as % of AAuMGross income as % of AAuMGross income as % of AAuMGross income as % of AAuM22222 9.12% 15.33%

4.4.4.4.4. Expense Ratio:Expense Ratio:Expense Ratio:Expense Ratio:Expense Ratio:

a. Total Expense as % of AAuM (plan wise)

Dividend Option 1.87% 1.99%

Growth Option 1.87% 1.99%

b. Management Fee as % of AAuM (plan wise)

Dividend Option 1.01% 0.52%

Growth Option 1.01% 0.52%

5.5.5.5.5. Net Income as a percentage of AAuMNet Income as a percentage of AAuMNet Income as a percentage of AAuMNet Income as a percentage of AAuMNet Income as a percentage of AAuM33333 7.25% 13.35%

6.6.6.6.6. Portfolio turnover ratioPortfolio turnover ratioPortfolio turnover ratioPortfolio turnover ratioPortfolio turnover ratio44444

1.10 1.607.7.7.7.7. Total Dividend per unit distribut ed during the year / period (plan wise)Total Dividend per unit distributed du ring the year / period (plan wise)Total Dividend per unit distribut ed during the year / period (plan wise)Total Dividend per unit distributed du ring the year / period (plan wise)Total Dividend per unit distributed du ring the year / period (plan wise)

Dividend Option 2.50 3.50

8.8.8.8.8. Returns:Returns:Returns:Returns:Returns:

a.a.a.a.a. Last One YearLast One YearLast One YearLast One YearLast One Year

SchemeSchemeSchemeSchemeScheme - Growth Option 11.32% 95.07%

BenchmarkBenchmarkBenchmarkBenchmarkBenchmark - BSE200 8.15% 92.87%

b.b.b.b.b. Since InceptionSince InceptionSince InceptionSince InceptionSince Inception

SchemeSchemeSchemeSchemeScheme - Growth Option 29.13% 31.69%

BenchmarkBenchmarkBenchmarkBenchmarkBenchmark - BSE200 16.19% 26.13%

1. AAuM=Average daily net assets

2. Gross income = amount against (A) in the Revenue accoun t i.e. Income.

3. Net income = amount against (C) in the Revenue account i.e. NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD

4. Portfolio Turnover = Lower of sales or pu rchase divided by the Average AuM for the year/period.





NOTES TO ACCOUNTS -NOTES TO ACCOUNTS -NOTES TO ACCOUNTS -NOTES TO ACCOUNTS -NOTES TO ACCOUNTS -ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011ANNEXURE I TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011

11111 Investments:-Investments:-Investments:-Investments:-Investments:-

1.1. It is confirmed that investments of the schemes are registered in the name of the Trustees for the benefit of the scheme's unitholders.

1.2. Open Positions of derivatives as of March 31, 2011 is Nil and March 31, 2010 is Rs.10,027,167 being 0.05% of net assets respectively.1.3. Investments in Associates and Group Companies as at Year ended March 31, 2011 and March 31, 2010 are as follows :

IssuerIssuerIssuerIssuerIssuer Nature of InstrumentsNature of InstrumentsNature of InstrumentsNature of InstrumentsNature of Instruments AmountAmountAmountAmountAmount Aggregate investments by all SchemesAggregate investments by all SchemesAggregate investments by all SchemesAggregate investments by all SchemesAggregate investments by all Schemes

20112011201120112011 20102010201020102010 20112011201120112011 20102010201020102010

Grasim Industries Ltd. Equity Shares 452,521,670 434,471,138 750,622,260 731,300,525

Maruti Suzuki India Ltd. Equity Shares 37,864,500 - 546,485,707 -

Bajaj Auto Ltd. Equity Shares 178,077,525 - 435,201,278 -

Axis Bank Ltd Equity Shares - 412,352,092 - 1,959,096,201

Hindalco Industries Ltd. Equity Shares - 208,357,570 - 649,154,227

PTC India Ltd. Equity Shares 163,896,095 - 781,530,391 -

1.4. Open position of Securities Borrowed and / or Lent by the scheme as of the Year end March 31, 2011 and March 31, 2010 are NIL.

1.5. NPAs as at Year ended March 31, 2011 and March 31, 2010 are NIL.

1.6. Aggregate Unrealised Gain / Loss as at the Year ended March 31, 20 11 and March 31, 2010 and their percentages to net assets are as under :

Security CategorySecurity CategorySecurity CategorySecurity CategorySecurity Category Amount (Rs.)Amount (Rs.)Amount (Rs.)Amount (Rs.)Amount (Rs.) Percentage to Net AssetsPercentage to Net AssetsPercentage to Net AssetsPercentage to Net AssetsPercentage to Net Assets Amount (Rs.)Amount (Rs.)Amount (Rs.)Amount (Rs.)Amount (Rs.) Percentage to Net AssetsPercentage to Net AssetsPercentage to Net AssetsPercentage to Net AssetsPercentage to Net Assets

20112011201120112011 20102010201020102010

Equity SharesEquity SharesEquity SharesEquity SharesEquity Shares

- Appreciation 4,962,480,563 16.96 3,840,390,427 18.74

- Depreciation 467,068,370 1.60 140,691,747 0.69

Futures & OptionsFutures & OptionsFutures & OptionsFutures & OptionsFutures & Options

- Appreciation - - 10,027,167 0.05

- Depreciation - - - -

Debentures and bondsDebentures and bondsDebentures and bondsDebentures and bondsDebentures and bonds

- Appreciation 12,176,435 0.04 - -


Mutual fund unitsMutual fund unitsMutual fund unitsMutual fund unitsMutual fund units

- Appreciation 127,459 0.00 - -


11.7. The aggregate value of investment securities purchased and sold during the year 2011 is Rs. 34,130,801,696 and Rs. 27,947,300,698 respectively being 134.55% and 1 10.17%of the average daily net assets.

The aggregate value of investment securities purchased and sold during the year 2010 is Rs. 81,132 and Rs. 163,593 respectively being 0.00% and 0.00% of the average daily netassets.

1.8. Non-Traded securities in the portfolio of the scheme as at the Year ended March 31, 2011 is Rs. 12,176,435 and March 31, 2010 are NIL.

22222 Details of Transaction with Associates under regulation 2 5(8).Details of Transaction with Associates under regulation 25 (8).Details of Transaction with Associates under regulation 2 5(8).Details of Transaction with Associates under regulation 25 (8).Details of Transaction with Associates under regulation 25 (8).

Commission Paid to associates/related parties/group companies of sponsor/AMCCommission Paid to associates/related parties/group companies of sponsor/AMCCommission Paid to associates/related parties/group companies of sponsor/AMCCommission Paid to associates/related parties/group companies of sponsor/AMCCommission Paid to associates/related parties/group companies of sponsor/AMC

Name of AssociateName of AssociateName of AssociateName of AssociateName of Associate Nature of AssociationNature of AssociationNature of AssociationNature of AssociationNature of Association Period CoveredPeriod CoveredPeriod CoveredPeriod CoveredPeriod Covered BusinessBusinessBusinessBusinessBusiness % of total% of total% of total% of total% of total CommissionCommissionCommissionCommissionCommission % of total% of total% of total% of total% of totalGiven(Rs Cr)Given(Rs Cr)Given(Rs Cr)Given(Rs Cr)Given(Rs Cr) BusinessBusinessBusinessBusinessBusiness paid in Rspaid in Rspaid in Rspaid in Rspaid in Rs CommissionCommissionCommissionCommissionCommission

Aditya Birla Money Ltd. Associate of the sponsor April 10 - March 11 0.15 0.01 30,944.85 0.01

Aditya Birla Money Mart Ltd. Associate of the sponsor April 10 - March 11 20.02 1.14 3,719,428.45 1.29

Emkay Global Financial Services Ltd. Associate of the sponsor April 10 - March 11 0.09 0.01 22,160.28 0.01

Aditya Birla Finance Company Ltd. Associate of the sponsor April 10 - March 11 0.01 0.00 6,286.62 0.00

Axis Bank Ltd Associate of the AMC April 10 - March 11 1.74 1.13 286,489.72 1.67


One India Bulls Centre, Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013.






Aditya Birla Finance Ltd. Associate of the sponsor April 09 - March 10 0.01 0.00 8,606.04 0.00

Aditya Birla Money Ltd. Associate of the sponsor April 09 - March 10 0.11 0.01 17,924.00 0.01

Aditya Birla Money Mart Ltd. Associate of the sponsor April 09 - March 10 25.23 1.32 4,746,025.64 1.70

Axis Bank Ltd. Associate of the AMC April 09 - March 10 35.74 1.88 7,651,813.15 2.74

Brokerage Paid to associates/related parties/group comp anies of sponsor/AMCBrokerage Paid to associates/related parties/group compani es of sponsor/AMCBrokerage Paid to associates/related parties/group comp anies of sponsor/AMCBrokerage Paid to associates/related parties/group compani es of sponsor/AMCBrokerage Paid to associates/related parties/group companies of sponsor/AMC


Aditya Birla Finance Ltd. Associate of the sponsor April 09 - March 10 0.01 0.00 8,606.04 0.00

Aditya Birla Money Ltd. Associate of the sponsor April 09 - March 10 0.11 0.01 17,924.00 0.01 ̀ Services Ltd.

Name of AssociateName of AssociateName of AssociateName of AssociateName of Associate Nature of AssociationNature of AssociationNature of AssociationNature of AssociationNature of Association Period CoveredPeriod CoveredPeriod CoveredPeriod CoveredPeriod Covered BusinessBusinessBusinessBusinessBusiness % of total% of total% of total% of total% of total BrokerageBrokerageBrokerageBrokerageBrokerage % of total% of total% of total% of total% of totalGiven(Rs Cr)Given(Rs Cr)Given(Rs Cr)Given(Rs Cr)Given(Rs Cr) BusinessBusinessBusinessBusinessBusiness paid (Rs Cr)paid (Rs Cr)paid (Rs Cr)paid (Rs Cr)paid (Rs Cr) BrokerageBrokerageBrokerageBrokerageBrokerage

Aditya Birla Money Ltd Associate of the sponsor April 09 - March 10 125.22 2.77 0.22 4.73

33333 None of the Investors held more than 25% of the total net assets of the scheme at the Year ended March 31, 2011 and March 31, 201 0.None of the Investors held more than 25% of the total net assets of the scheme at the Year ended March 31, 2011 and March 31, 201 0.None of the Investors held more than 25% of the total net assets of the scheme at the Year ended March 31, 2011 and March 31, 201 0.None of the Investors held more than 25% of the total net assets of the scheme at the Year ended March 31, 2011 and March 31, 201 0.None of the Investors held more than 25% of the total net assets of the scheme at the Year ended March 31, 2011 and March 31, 2010.

44444 Unit Capital movement during the Year ended March 31, 2011 and March 31,2010 are as under:Unit Capital movement during the Year ended March 31, 2011 and March 31,2010 are as under:Unit Capital movement during the Year ended March 31, 2011 and March 31,2010 are as under:Unit Capital movement during the Year ended March 31, 2011 and March 31,2010 are as under:Unit Capital movement during the Year ended March 31, 2011 and March 31,2010 are as under:

DescriptionDescriptionDescriptionDescriptionDescription 20112011201120112011

Opening UnitsOpening UnitsOpening UnitsOpening UnitsOpening Units SubscriptionSubscriptionSubscriptionSubscriptionSubscription RedemptionRedemptionRedemptionRedemptionRedemption Closing UnitsClosing UnitsClosing UnitsClosing UnitsClosing Units Face ValueFace ValueFace ValueFace ValueFace Value

Plan A - Dividend Option 432,556,619.003 254,354,231.113 174,134,481.142 512,776,368.974 5,127,763,689.74

Plan A - Growth Option 4,052,676.110 134,946,443.053 68,833,676.263 202,255,775.493 2,022,557,754.93

Plan B - Dividend Option - 2,462,812.732 4,998,530.471 - -

Plan B - Growth Option - 4,628,803.699 8,681,479.809 - -

DescriptionDescriptionDescriptionDescriptionDescription 20102010201020102010

Opening UnitsOpening UnitsOpening UnitsOpening UnitsOpening Units SubscriptionSubscriptionSubscriptionSubscriptionSubscription RedemptionRedemptionRedemptionRedemptionRedemption Closing UnitsClosing UnitsClosing UnitsClosing UnitsClosing Units Face ValueFace ValueFace ValueFace ValueFace Value

Plan A - Dividend Option 153,257,730.521 433,323,590.195 154,024,701.713 432,556,619.003 4,325,566,190.03

Plan A - Growth Option 55,995,889.126 140,832,534.317 60,685,414.740 136,143,008.703 1,361,430,087.03

Plan B - Dividend Option - 4,104,427.984 1,568,710.245 2,535,717.739 25,357,177.39

Plan B - Growth Option - 6,449,010.573 2,396,334.463 4,052,676.110 40,526,761.10

55555 Prior year amounts have been re-grouped and reclassified, wherever applicable, to conform to current year’s presentation.Prior year amounts have been re-grouped and reclassified, wherever applicable, to conform to current year’s presentation.Prior year amounts have been re-grouped and reclassified, wherever applicable, to conform to current year’s presentation.Prior year amounts have been re-grouped and reclassified, wherever applicable, to conform to current year’s presentation.Prior year amounts have been re-grouped and reclassified, wherever applicable, to conform to current year’s presentation.

66666 No contingent liabilities for the Year ended March 31, 2011 and March 31, 2010.No contingent liabilities for the Year ended March 31, 2011 and March 31, 2010.No contingent liabilities for the Year ended March 31, 2011 and March 31, 2010.No contingent liabilities for the Year ended March 31, 2011 and March 31, 2010.No contingent liabilities for the Year ended March 31, 2011 and March 31, 2010.

These abridged financial statements have been derived by th e management from the audited financial statements, and have not been au dited.These abridged financial statements have been derived by the manag ement from the audited financial statements, and have not been aud ited.These abridged financial statements have been derived by th e management from the audited financial statements, and have not been au dited.These abridged financial statements have been derived by the manag ement from the audited financial statements, and have not been aud ited.These abridged financial statements have been deriv ed by the management from the audited financial statement s, and have not been audited.





ComplaintComplaintComplaintComplaintComplaintcodecodecodecodecode Type of complaint#Type of complaint#Type of complaint#Type of complaint#Type of complaint#(a) No. of(a) No. of(a) No. of(a) No. of(a) No. of

complaintscomplaintscomplaintscomplaintscomplaintspending atpending atpending atpending atpending at

thethethethethebeginningbeginningbeginningbeginningbeginningof the yearof the yearof the yearof the yearof the year

Action on (a) and (b)Action on (a) and (b)Action on (a) and (b)Action on (a) and (b)Action on (a) and (b)(b) No of(b) No of(b) No of(b) No of(b) No of

complaintscomplaintscomplaintscomplaintscomplaintsreceivedreceivedreceivedreceivedreceived

during theduring theduring theduring theduring theyearyearyearyearyear

ResolvedResolvedResolvedResolvedResolved

WithinWithinWithinWithinWithin30 days30 days30 days30 days30 days

30-6030-6030-6030-6030-60daysdaysdaysdaysdays

60-18060-18060-18060-18060-180daysdaysdaysdaysdays

BeyondBeyondBeyondBeyondBeyond180 days180 days180 days180 days180 days

NonNonNonNonNonActionable*Actionable*Actionable*Actionable*Actionable*

Pending as on March 31, 2011Pending as on March 31, 2011Pending as on March 31, 2011Pending as on March 31, 2011Pending as on March 31, 2011

0-30-30-30-30-3monthsmonthsmonthsmonthsmonths




# including against its authorized persons/ distributors/ employees etc.*Non actionable*Non actionable*Non actionable*Non actionable*No n ac tio nab le means the complaint that are incomplete / outside the scope of the mutual fund

Dear investor,

Please note that as per addendum released on May 20, 2010 Birla Sun Life Asset Management Company Limited reserves the right to send Statutory Documents including the ANNUALREPORT to your registered email id ONLY.

In case you need printed copies of any particular scheme, you may visit our Investor Service Centers or get in touch with us through below mentioned contact details .

Note:Note:Note:Note:Not e: Kindly mention your folio number in all your communication with us.

ANNEXURE 1 to the Annual Abridged Trustee Repo rtANNEXURE 1 to the Annual Abridged Trustee Repo rtANNEXURE 1 to the Annual Abridged Trustee Repo rtANNEXURE 1 to the Annual Abridged Trustee Repo rtANNEXURE 1 to the Annual Abridged Trustee Report

Disclosure of investor of investor complaints with respect to Mutual FundsDisclosure of investor of investor complaints with respect to Mutual FundsDisclosure of investor of investor complaints with respect to Mutual FundsDisclosure of investor of investor complaints with respect to Mutual FundsDisclosure of investor of investor complaints with respect to Mutual Funds

I A Non receipt of Dividend on Units 16 565 444 92 41 2 0 2 0 0 0

I B Interest on delayed payment of Dividend 0 43 43 0 0 0 0 0 0 0 0

I C Non receipt of Redemption Proceeds 8 61 64 5 0 0 0 0 0 0 0

I D Interest on delayed payment of 0 4 4 0 0 0 0 0 0 0 0Redemption

II A Non receipt of Statement of Account/ 0 16 16 0 0 0 0 0 0 0 0Unit Certificate

II B Discrepancy in Statement of Account 0 0 0 0 0 0 0 0 0 0 0

II C Non receipt of Annual Report/ 0 0 0 0 0 0 0 0 0 0 0Abridged Summary

III A Wrong switch between Schemes 0 2 2 0 0 0 0 0 0 0 0

III B Unauthorized switch between Schemes 0 1 1 0 0 0 0 0 0 0 0

III C Deviation from Scheme attributes 0 5 5 0 0 0 0 0 0 0 0

III D Wrong or excess charges/load 0 12 11 1 0 0 0 0 0 0 0

III E Non updation of changes viz. address, 0 49 49 0 0 0 0 0 0 0 0PAN, bank details, nomination, etc

IV Others 1 146 139 7 0 0 0 1 0 0 0

TOTALTOTALTOTALTOTALTOTAL 2525252525 904904904904904 778778778778778 105105105105105 4141414141 22222 00000 33333 00000 00000 00000

Redressal of Complaints received duringRedressal of Complaints received duringRedressal of Complaints received duringRedressal of Complaints received duringRedressal of Complaints received during 2010-20112010-20112010-20112010-20112010-2011

Name of the Mutual FundName of the Mutual FundName of the Mutual FundName of the Mutual FundName of the Mutual Fund Birla Sun Life Mutual FundBirla Sun Life Mutual FundBirla Sun Life Mutual FundBirla Sun Life Mutual FundBirla Sun Life Mutual Fund

Total Number of FoliosTotal Number of FoliosTotal Number of FoliosTotal Number of FoliosTotal Number of Folios 24281262428126242812624281262428126

BIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUNDBIRLA SUN LIFE MUTUAL FUND,,,,,

One India Bulls, Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road. Mumbai - 400 013

BIRLA SUN LIFE MUTUAL FUND,

One India Bulls, Tower 1, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road. Mumbai - 400 013

Toll Free : 1-800-270-7000 / 1-800-22-7000 (MTNL/BSNL) | SMS ‘GAIN’ to 56161 | [email protected]

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