factsheet...3 equity snapshot as on 31 st january 2020 category scheme name about the fund...

FACTSHEET31stJanuary 2020

2

Index

Equity/Index/ETF Funds

Commentary - Equity Outlook 1

Commentary - Debt Outlook 5

IDFC Core Equity Fund 7

IDFC Sterling Value Fund 8

IDFC Multi Cap Fund 9

IDFC Focused Equity Fund 10

IDFC Large Cap Fund 11

IDFC Nifty Fund 12

IDFC Infrastructure Fund 13

IDFC Tax Advantage (ELSS) Fund 14

IDFC Sensex ETF 15

IDFC Nifty ETF 16

Hybrid/Fund of Funds

IDFC Arbitrage Fund 17

IDFC Equity Savings Fund 18

IDFC Dynamic Equity Fund 19

IDFC Hybrid Equity Fund 20

IDFC Regular Savings Fund 21

IDFC Asset Allocation Fund of Funds 22

IDFC All Seasons Bond Fund 23

Debt Funds

IDFC Overnight Fund 25

IDFC Cash Fund 25

IDFC Ultra Short Term Fund 26

IDFC Low Duration Fund 27

IDFC Money Manager Fund 28

IDFC Banking & PSU Debt Fund 29

IDFC Corporate Bond Fund 30

IDFC Bond Fund – Short Term Plan 31

IDFC Bond Fund – Medium Term Plan 32

IDFC Credit Risk Fund 33

IDFC Bond Fund – Income Plan 34

IDFC Dynamic Bond Fund 35

IDFC Government Securities Fund – Constant Maturity Plan 36

IDFC Government Securities Fund – Investment Plan 37

Performance Table 38

SIP Performance 41

Dividend History 45

Fund Manager Details 49

Investment Objective 49

3

Equi

ty S

naps

hot a

s on

31st

Jan

uary

202

0C

ate

go

ryS

ch

em

e N

am

eA

bo

ut

the F

un

dIn

vest

men

t S

tyle

In

cep

tio

n

Date

Mo

nth

En

d

Au

M (

crs

.)

Cyclic

al/

Sta

ble

Invest

men

t

Fra

mew

ork

B

en

ch

mark

Top

10

Ho

ldin

gs

Top

10

Secto

rsO

pera

tin

g M

etr

ics

Rati

os

Fu

nd

Man

ag

ers

Top

10

Ho

ldin

gs

(% o

f N

AV

)S

ecto

r(%

of

NA

V)

Fu

nd

BM

Beta

An

nu

aliz

ed

S

.DS

harp

eF

un

dB

M

Larg

e a

nd

M

id c

ap

IDF

C C

ore

Eq

uit

y

Fu

nd

(P

revio

usl

y

kn

ow

n a

s ID

FC

C

lass

ic E

qu

ity

Fu

nd

)

• A

mix

of

larg

e c

ap

an

d

mid

cap

op

po

rtu

nit

ies

• F

ocu

s o

n ‘Q

ualit

y w

ith

V

alu

ati

on

’•

Fo

cu

s o

n c

om

pan

ies

gen

era

tin

g c

ash

, h

avin

g

hig

her

RO

C a

nd

lo

w

levera

ge

09

-Au

g-0

52,7

80

Cyclic

al:

56

.3%

S

tab

le:

43

.7%

Cyclic

al:

44

.0%

S

tab

le:

56

.0%

NIF

TY

L

arg

eM

idcap

25

0 T

RI

(w.e

.f. 7th

O

ct,

20

19)

ICIC

I B

an

k L

td6

.92%

Ban

ks

28

.76

%

PE

: 26

.4

PB

: 2.5

EP

S G

r:

29

.2%

NIF

TY

Larg

e

Mid

cap

25

0 T

RI:

PE

: 25

.1

PB

: 2.7

E

PS

Gr:

19

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0.9

213

.06

%0

.32

An

oo

p B

hask

ar

HD

FC

Ban

k L

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harm

aceu

ticals

9.19

%A

xis

Ban

k L

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uto

An

cill

ari

es

6.4

3%

Sta

te B

an

k o

f In

dia

4.8

7%

Petr

ole

um

Pro

du

cts

5.8

5%

Relia

nce In

du

stri

es

Ltd

3.6

5%

Cem

en

t5

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fosy

s Ltd

3.3

5%

Fin

an

ce

5.5

8%

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& T

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Ltd

3.12%

So

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are

5.5

7%

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A L

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ora

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Ltd

2.5

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Co

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on

Pro

ject

4.6

2%

MR

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6%

Reta

ilin

g4

.38

%T

he In

dia

n H

ote

ls C

om

pan

y L

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du

stri

al P

rod

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3.8

5%

Mu

ltic

ap

IDF

C M

ult

i C

ap

F

un

d (

Pre

vio

usl

y

kn

ow

n a

s ID

FC

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rem

ier

Eq

uit

y

Fu

nd

)

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e, m

id a

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sm

all

cap

se

gm

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ts

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ort

folio

fo

cu

ses

on

Mark

et

Sh

are

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e m

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o

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tin

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ge

28

-Sep

-05

5,7

28

Cyclic

al:

40

.7%

S

tab

le:

59

.3%

Cyclic

al:

42.0

%

Sta

ble

: 5

8.0

%

S&

P B

SE

50

0

TR

I

ICIC

I B

an

k L

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81%

Ban

ks

27.

06

%

PE

: 3

6.2

PB

: 4

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EP

S G

r:

20

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S&

P B

SE

5

00

TR

I:

PE

: 25

.0

PB

: 2.6

EP

S G

r:

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%

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213

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7A

no

op

Bh

ask

ar

HD

FC

Ban

k L

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on

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er

Du

rab

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Axis

Ban

k L

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.79

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on

sum

er

No

n D

ura

ble

s10

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%3

M In

dia

Ltd

4.0

7%

Fin

an

ce

9.3

8%

Lars

en

& T

ou

bro

Ltd

3.8

1%C

hem

icals

4.6

6%

Bata

In

dia

Ltd

3.2

6%

Ind

ust

rial P

rod

ucts

4.5

8%

Ko

tak M

ah

ind

ra B

an

k L

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on

stru

cti

on

Pro

ject

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Ltd

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Co

mm

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ial S

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Info

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Reta

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sian

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Valu

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C S

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V

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d

(Pre

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usl

y k

no

wn

as

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C S

terl

ing

E

qu

ity F

un

d)

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nd

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at

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ws

valu

e invest

men

t st

rate

gy

• E

nte

rpri

se V

alu

e (

EV

)/S

ale

s ra

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& P

rice/

Bo

ok (

P/B

) are

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e k

ey

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rs

• In

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e F

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d’

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go

ry

bu

t p

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folio

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nsi

sts

pre

do

min

an

tly

mid

an

d s

mall

cap

co

mp

an

ies

07-M

ar-

08

3,2

20

Cyclic

al:

59

.6%

S

tab

le:

40

.4%

Cyclic

al:

52.2

%

Sta

ble

: 4

7.8

%

S&

P B

SE

40

0

Mid

Sm

allC

ap

T

RI (w

.e.f.11t

h

No

v, 2

019

)

Axis

Ban

k L

td3

.62%

Ban

ks

12.0

9%

PE

: 19

.2

PB

: 2.0

EP

S G

r:

42.6

%

S&

P B

SE

4

00

Mid

Sm

all

Cap

TR

I

PE

: 26

.5

PB

: 2.4

EP

S G

r: 1

4.1%

0.8

415

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0.18

An

oo

p B

hask

ar,

Dayly

nn

Pin

to

ICIC

I B

an

k L

td3

.59

%A

uto

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cill

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es

10.8

8%

Fu

ture

Reta

il Ltd

3.2

0%

Cem

en

t9

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%K

EC

In

tern

ati

on

al Ltd

2.9

5%

Fin

an

ce

8.5

8%

RB

L B

an

k L

td2.6

2%

Reta

ilin

g6

.87%

JK

Cem

en

t Ltd

2.5

6%

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nsu

mer

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rab

les

5.9

7%

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e R

am

co

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en

ts L

td2.4

8%

So

ftw

are

4.5

0%

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dal S

teel &

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wer

Ltd

2.2

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nst

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on

Pro

ject

4.4

0%

Mas

Fin

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cia

l S

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ices

Ltd

2.2

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arm

aceu

ticals

3.6

4%

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A L

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ora

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Ltd

2.2

0%

Ferr

ou

s M

eta

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%

Larg

e c

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C L

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d (

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vio

usl

y

kn

ow

n a

s ID

FC

E

qu

ity F

un

d)

• A

Larg

e C

ap

fu

nd

wit

h

op

po

rtu

nis

tic s

mall

cap

allo

cati

on

up

to

20

%•

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e p

ort

folio

fo

llow

s a b

arb

ell

stra

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y

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sin

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n t

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wo

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ark

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um

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co

mb

ine

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w V

ola

tilit

y a

nd

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ha

Op

po

rtu

nit

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09

-Ju

n-0

64

67

Cyclic

al:

40

.3%

S

tab

le:

58

.7%

Cyclic

al:

40

.0%

S

tab

le:

60

.0%

S&

P B

SE

10

0

TR

I

HD

FC

Ban

k L

td9

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%B

an

ks

23

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%

PE

: 3

5.3

PB

: 3

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EP

S G

r:

18.3

%

S&

P B

SE

10

0 T

RI:

PE

: 24

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PB

: 2.7

EP

S G

r:

11.4

%

0.9

411

.98

%0

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Su

mit

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raw

al,

Arp

it K

ap

oo

r

Relia

nce In

du

stri

es

Ltd

7.9

8%

Fin

an

ce

13.2

4%

Ho

usi

ng

Develo

pm

en

t F

inan

ce

Co

rpo

rati

on

Ltd

7.4

5%

Co

nsu

mer

No

n D

ura

ble

s11

.72%

Info

sys

Ltd

6.12%

So

ftw

are

10.0

4%

ICIC

I B

an

k L

td5

.95

%P

etr

ole

um

Pro

du

cts

7.9

8%

Bh

art

i A

irte

l Ltd

4.5

1%C

em

en

t5

.32%

ITC

Ltd

4.10

%A

uto

5.2

1%Ta

ta C

on

sult

an

cy S

erv

ices

Ltd

3.9

2%

Tele

co

m -

Serv

ices

4.5

1%B

aja

j F

inan

ce L

td3

.74

%P

harm

aceu

ticals

3.9

4%

Ko

tak M

ah

ind

ra B

an

k L

td3

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%C

on

stru

cti

on

Pro

ject

3.3

4%

Fo

cu

sed

IDF

C F

ocu

sed

E

qu

ity F

un

d

• C

on

cen

trate

d m

ult

i cap

po

rtfo

lio o

f a

maxim

um

of

30

sto

cks

by d

esi

gn

•

Po

rtfo

lio f

ocu

ses

on

sc

ala

ble

bu

sin

ess

es,

su

peri

or

qu

alit

y b

usi

ness

w

ith

go

od

qu

alit

y o

f m

an

ag

em

en

t

16-M

ar-

06

1,5

08

Cyclic

al:

51.

3%

S

tab

le:

48

.7%

Cyclic

al:

42.0

%

Sta

ble

: 5

8.0

%

S&

P B

SE

50

0

TR

I (w

.e.f.11t

h

No

v, 2

019

)

HD

FC

Ban

k L

td7.

64

%B

an

ks

17.7

7%

PE

: 3

6.6

PB

: 4

.6

EP

S G

r:

17.4

%

S&

P B

SE

5

00

TR

I:

PE

: 25

.0

PB

: 2.6

EP

S G

r:

11.3

%

0.9

514

.18

%0

.53

Su

mit

Ag

raw

al

Fin

e O

rgan

ic In

du

stri

es

Ltd

7.3

4%

Fin

an

ce

16.3

0%

Relia

nce In

du

stri

es

Ltd

6.4

4%

So

ftw

are

11.3

0%

ICIC

I S

ecu

riti

es

Ltd

6.2

4%

Ch

em

icals

7.3

4%

Ho

usi

ng

Develo

pm

en

t F

inan

ce

Co

rpo

rati

on

Ltd

5.9

9%

Au

to6

.63

%

Bh

art

i A

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l Ltd

5.3

1%P

etr

ole

um

Pro

du

cts

6.4

4%

Info

sys

Ltd

5.2

7%

Tele

co

m -

Serv

ices

5.3

1%IC

ICI B

an

k L

td4

.88

%C

om

merc

ial S

erv

ices

4.5

4%

Secu

rity

an

d In

telli

gen

ce S

erv

ices

(In

dia

) Ltd

4.5

4%

Co

nsu

mer

Du

rab

les

4.4

4%

Baja

j F

inan

ce L

td4

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%C

em

en

t3

.92%

EL

SS

IDF

C T

ax

Ad

van

tag

e (

EL

SS

) F

un

d

• F

ollo

ws

a g

row

th-

at-

a-r

easo

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rice

ph

iloso

ph

y

• P

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folio

fo

cu

ses

on

co

mp

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ies

base

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n

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p

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on

w

ith

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ag

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en

ts

26

-Dec-0

82,18

0

Cyclic

al:

57.

8%

S

tab

le:

42.2

%

Cyclic

al:

40

.3%

S

tab

le:

59

.7%

S&

P B

SE

20

0

TR

I

ICIC

I B

an

k L

td7.

72%

Ban

ks

21.

53

%

PE

: 22.2

PB

: 2.0

EP

S G

r:

26

.3%

S&

P B

SE

20

0 T

RI:

PE

: 25

.1

PB

: 2.7

EP

S G

r:

11.2

%

1.0

214

.03

%0

.38

Dayly

nn

Pin

to

Info

sys

Ltd

4.0

0%

So

ftw

are

8.8

2%

Sta

te B

an

k o

f In

dia

3.9

4%

Fin

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ce

7.0

3%

Relia

nce In

du

stri

es

Ltd

3.8

9%

Co

nsu

mer

Du

rab

les

6.6

7%

HD

FC

Ban

k L

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on

stru

cti

on

Pro

ject

5.7

5%

Axis

Ban

k L

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%P

etr

ole

um

Pro

du

cts

5.7

4%

RB

L B

an

k L

td2.7

0%

Cem

en

t4

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KE

C In

tern

ati

on

al Ltd

2.5

6%

Ph

arm

aceu

ticals

4.3

2%

Jin

dal S

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Po

wer

Ltd

2.2

8%

Reta

ilin

g3

.81%

Fu

ture

Reta

il Ltd

2.0

8%

Ferr

ou

s M

eta

ls3

.63

%

Secto

ral

IDF

C

Infr

ast

ructu

re

Fu

nd

• In

vest

s p

ure

ly in

th

e

infr

ast

ructu

re s

ecto

r w

ith

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exp

osu

re in

B

an

kin

g, A

uto

s, IT,

Ph

arm

a a

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CG

• P

ort

folio

fo

cu

ses

on

co

mp

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ies

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h lo

w

deb

t to

eq

uit

y r

ati

o w

ith

h

igh

gro

wth

vis

ibili

ty

an

d s

tro

ng

ord

er

bo

ok

08

-Mar-

1176

5

Cyclic

al:

100

%

Sta

ble

: 0

.0%

Cyclic

al:

100

%

Sta

ble

: 0

.0%

S&

P B

SE

In

dia

In

frast

ructu

re

TR

I (w

.e.f.11t

h

No

v, 2

019

)

Lars

en

& T

ou

bro

Ltd

8.0

6%

Co

nst

ructi

on

Pro

ject

19.8

5%

PE

: 13

.2

PB

: 1.

9

EP

S G

r:

66

.7%

S&

P B

SE

In

dia

In

frast

ruc-

ture

TR

I

PE

: 13

.2

PB

: 1.

4

EP

S G

r:

18.8

%

1.0

120

.09

%-0

.13

Raje

nd

ra K

um

ar

Mis

hra

Bh

art

i A

irte

l Ltd

6.5

5%

Tra

nsp

ort

ati

on

15.2

8%

Ult

raTe

ch

Cem

en

t Ltd

5.8

1%C

on

stru

cti

on

11.6

8%

Co

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Co

rpo

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on

of

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ia L

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Cem

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dan

i P

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s an

d S

pecia

l E

co

no

mic

Z

on

e L

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Gas

10.5

9%

PN

C In

frate

ch

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4.8

8%

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co

m -

Serv

ices

6.5

5%

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jara

t G

as

Ltd

4.8

6%

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ust

rial P

rod

ucts

4.9

7%

Gu

jara

t S

tate

Petr

on

et

Ltd

4.2

8%

Ind

ust

rial C

ap

ital G

oo

ds

4.5

1%JK

Cem

en

t Ltd

3.5

3%

Ferr

ou

s M

eta

ls4

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%To

rren

t P

ow

er

Ltd

3.5

0%

Po

wer

4.0

4%

Ratio

s ca

lcul

ated

on

the

basi

s of

3 y

ears

his

tory

of

mon

thly

dat

a ^

Ratio

s ca

lcul

ated

on

the

basi

s of

mon

thly

dat

a Si

nce

Ince

ptio

nFo

r th

e in

vest

men

t fr

amew

ork,

3=

Very

Impo

rtan

t, 1

=Le

ast

Impo

rtan

t.

The

7-fa

ctor

s co

nsid

ered

for

eac

h sc

hem

es a

re r

ated

on

a re

lativ

e ba

sis

to h

ighl

ight

the

ir re

spec

tive

sign

ifica

nce.

The

num

bers

do

not

have

any

sig

nific

ance

in a

bsol

ute

term

s.St

able

Sec

tors

: Aut

o, R

etai

l Ban

ks, N

BFC

, Con

sum

er S

tapl

es, C

onsu

mer

Dis

cret

iona

ry, I

T Se

rvic

es, H

ealth

care

/ Ph

arm

a; C

yclic

al S

ecto

rs: C

emen

t/Bu

ildin

g M

ater

ial,

Cor

p Ba

nks,

Indu

stria

ls (i

nclu

ding

CV

s), U

tiliti

es, T

elec

om, C

omm

oditi

es (M

etal

s/O

il &

Gas

etc

) #T

he d

ata

have

bee

n gi

ven

as p

er t

he o

ld b

ench

mar

k of

the

fun

d

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

53

%

30

%

14%

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

16%

44

%

36

%

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

47%

22%

27%

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

61%

23

%

15%

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

35

%

24

%

40

%

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

81%

10%

5%

Larg

e C

ap

Mid

Cap

Sm

all

Cap

Gro

wth

Ble

nd

Valu

e

47%

42%

9%

4

Asse

t Al

loca

tion

Core

Sate

llite

Liqui

dity

M

anag

emen

t

IDFC

Ove

rnig

ht F

und

IDFC

Cas

h Fu

ndID

FC U

ltra

Shor

t Ter

m F

und

IDFC

Mon

ey M

anag

er F

und

IDFC

Low

Dur

atio

n Fu

ndID

FC B

ond

Fund

–Sh

ort T

erm

Pla

nID

FC B

ond

Fund

–M

ediu

m Te

rm P

lan

IDFC

All

Seas

on B

ond

Fund

IDFC

Cor

pora

te B

ond

IDFC

Ban

king

& P

SU D

ebt

Cred

it Ri

skIn

tere

st

Rate

Risk

IDFC

Cre

dit R

isk F

und

IDFC

Dyn

amic

Bond

Fun

dID

FC B

ond

Fund

–In

com

e Pl

anID

FC G

over

nmen

t Sec

uriti

es F

und

–In

com

e Pl

an

IDFC

Gov

ernm

ent S

ecur

ities

Fun

d-Co

nsta

nt M

atur

ity P

lan

Deb

t Ass

et A

lloca

tion

Fra

mew

ork

5

Deb

t Sna

psho

t as

on 3

1st J

anua

ry 2

020

Ass

et

Allo

cati

on

R

eq

uir

em

en

tS

ch

em

e N

am

eP

osi

tio

nin

gM

on

th E

nd

A

uM

(crs

.)A

sset

Qu

alit

y

(%)+

Ass

et

Allo

cati

on

(%

)A

vera

ge

Matu

rity

Mo

difi

ed

D

ura

tio

nY

ield

to

M

atu

rity

Exp

en

se

Rati

o

-Reg

ula

r

Exp

en

se

Rati

o

-Dir

ect

Exit

Lo

ad

Fu

nd

Man

ag

er

Liquidity Management

IDF

C O

vern

igh

t F

un

dO

vern

igh

t F

un

d 8

65

A

AA

E

qu

ivale

nt

= 1

00

TR

I P

art

y R

ep

o

: 9

9.9

2%

3 d

ays

3 d

ays

4.9

1%0

.19

%0

.06

%N

ilB

rije

sh S

hah

IDF

C C

ash

Fu

nd

Liq

uid

Fu

nd

9,7

99

A

AA

E

qu

ivale

nt

= 1

00

CP

: 3

5.8

2

T

B : 2

5.6

8

CD

: 1

5.4

7

CB

: 1

4.6

9

ZC

B : 2

.82

29

days

29

days

5.2

1%0

.16

%0

.11%

Invest

or

exit

u

po

n s

ub

scri

pti

on

Day 1

Day 2

Day 3

Day 4

Hars

hal Jo

shi &

A

nu

rag

Mit

tal

Exit

lo

ad

as

a

% o

f re

dem

pti

on

p

roceed

s0

.00

70

%0

.00

65

%0

.00

60

%0

.00

55

%

Invest

or

exit

u

po

n s

ub

scri

pti

on

Day 5

Day 6

Day 7

on

ward

s

Exit

lo

ad

as

a

% o

f re

dem

pti

on

p

roceed

s0

.00

50

%0

.00

45

%0

.00

00

%

Core

IDF

C U

ltra

Sh

ort

Term

Fu

nd

Ult

ra S

ho

rt D

ura

tio

n 5

,46

8

AA

A

Eq

uiv

ale

nt

= 1

00

CB

: 6

4.8

4

CD

: 1

9.3

7

CP

: 6

.15

TB

: 5

.15

ZC

B : 1

.71

167 d

ays

160

days

5.8

3%

0.3

5%

0.2

0%

Nil

Hars

hal Jo

shi

IDF

C L

ow

Du

rati

on

Fu

nd

(p

revio

usl

y k

no

wn

as

Ult

ra

sho

rt t

erm

fu

nd

)L

ow

Du

rati

on

Fu

nd

5,8

04

A

AA

E

qu

ivale

nt

= 1

00

CB

: 6

3.3

5

CD

: 21.

49

ZC

B : 5

.46

G

Sec/S

DL

: 0

.92

327 d

ays

28

9 d

ays

5.9

6%

0.4

8%

0.2

6%

Nil

An

ura

g M

itta

l

IDF

C M

on

ey M

an

ag

er

Fu

nd

(p

revio

usl

y k

no

wn

as

IDF

C

Mo

ney M

an

ag

er

Fu

nd

- T

P)

Mo

ney M

ark

et

Fu

nd

2,2

76

A

AA

E

qu

ivale

nt

= 1

00

CD

: 5

4.5

5

CP

: 4

5.8

8

173

days

173

days

5.7

6%

1.0

4%

0.3

0%

Nil

An

ura

g M

itta

l &

H

ars

hal Jo

shi

IDF

C B

an

kin

g a

nd

PS

U D

eb

t F

un

d+

+

-Th

e F

un

d w

ill p

red

om

inan

tly invest

in

m

on

ey m

ark

et

an

d d

eb

t in

stru

men

ts o

f B

an

ks,

PS

U a

nd

PF

I. 1

3,0

30

A

AA

E

qu

ivale

nt

= 1

00

CB

: 9

0.2

2

ZC

B : 4

.39

CD

: 2

.33

S

DL

: 0

.02

3.10

years

2.5

9 y

ears

6.8

0%

0.6

5%

0.3

0%

Nil

An

ura

g M

itta

l

IDF

C C

orp

ora

te B

on

d F

un

d-A

ded

icate

d C

orp

ora

te B

on

d p

ort

folio

14

,029

A

AA

E

qu

ivale

nt

= 1

00

CB

: 7

6.7

7

SD

L : 1

6.5

0

CD

: 2

.14

ZC

B : 1

.19

2.6

0 y

ears

2.17 y

ears

6.4

6%

0.5

7%

0.2

7%

Nil

An

ura

g M

itta

l

IDF

C B

on

d F

un

d-

Sh

ort

Term

-A S

ho

rt t

erm

in

co

me f

un

d

-Macau

lay d

ura

tio

n b

etw

een

1-3

years

-M

ix o

f sh

ort

du

rati

on

deb

t an

d m

on

ey

mark

et

inst

rum

en

ts

11,

979

A

AA

E

qu

ivale

nt

= 1

00

CB

: 9

2.5

7

CD

: 3

.74

PT

C : 0

.71

2.2

1 years

1.8

9 y

ears

6.6

2%

0.7

9%

0.2

8%

Nil

Su

yash

C

ho

ud

hary

IDF

C B

on

d F

un

d -

Med

ium

Te

rm P

lan

(p

revio

usl

y k

no

wn

as

IDF

C S

up

er

Saver

Inco

me

Fu

nd

- M

ed

ium

Term

)

- A

n A

cti

ve S

ho

rt T

erm

Fu

nd

- M

acau

lay d

ura

tio

n b

etw

een

3-4

years

2,9

51

AA

A

Eq

uiv

ale

nt

= 1

00

G S

ec/

SD

L : 6

0.3

7

CB

: 3

6.7

0

PT

C : 1

.34

4.8

6 y

ears

3.8

6 y

ears

6.8

3%

1.4

4%

0.7

6%

Nil

(w.e

.f 1

5th

Jan

, 20

19)

Su

yash

C

ho

ud

hary

IDF

C A

ll S

easo

ns

Bo

nd

Fu

nd

^A

FO

F s

tru

ctu

re w

hic

h t

yp

ically

invest

s in

ou

r d

eb

t sc

hem

es

up

to s

ho

rt t

erm

fu

nd

s.

14

7

AA

A

Eq

uiv

ale

nt

= 1

00

IDF

C B

an

kin

g

& P

SU

Deb

t F

un

d: 6

3.0

9

IDF

C B

on

d

Fu

nd

-ST

: 3

6.5

1

2.7

6 y

ears

2.3

2 y

ears

6.7

3%

0.4

9%

0.10

%0

.50

% f

or

3 M

on

ths

Hars

hal Jo

shi

Satellite

IDF

C C

red

it R

isk F

un

d

IDF

C C

red

it o

pp

ort

un

itie

s fu

nd

aim

s to

p

rovid

e a

n o

pti

mal ri

sk-r

ew

ard

pro

file

to

in

vest

ors

by f

ocu

sin

g o

n c

om

pan

ies

wit

h

well-

run

man

ag

em

en

t an

d e

vo

lvin

g b

usi

ness

pro

spects

or

go

od

b

usi

ness

es

wit

h im

pro

vin

g fi

nan

cia

l p

rofi

le.

1,5

64

AA

A =

44

.35

A

A+

= 5

.15

A

A =

42.5

4

AA

- =

7.9

5

CB

: 7

7.70

ZC

B : 6

.50

PT

C : 4

.86

2.8

5 y

ears

2.2

3 y

ears

7.79

%1.

49

%0

.66

%1%

fo

r 3

65

days

Arv

ind

S

ub

ram

an

ian

(w

.e.f. M

ay 1

0,

20

19)

IDF

C G

overn

men

t S

ecu

riti

es

Fu

nd

-Co

nst

an

t M

atu

rity

(p

revio

usl

y k

no

wn

as

IDF

C

G-S

ec F

un

d-S

ho

rt T

erm

)

Gilt

Fu

nd

wit

h 1

0 y

ear

co

nst

an

t d

ura

tio

n 1

42

AA

A

Eq

uiv

ale

nt

= 1

00

G S

ec : 9

5.9

111

.17 y

ears

7.3

0 y

ears

7.0

6%

0.5

4%

0.4

0%

Nil

Hars

hal Jo

shi

IDF

C B

on

d F

un

d -

In

co

me

Pla

n (

pre

vio

usl

y k

no

wn

as

IDF

C S

SIF

-Invest

men

t P

lan

)

- A

cti

vely

man

ag

ed

Med

ium

to

Lo

ng

B

on

d F

un

d

- It

can

invest

in

a m

ix o

f co

rpo

rate

b

on

ds

an

d/o

r g

overn

men

t se

cu

riti

es

670

A

AA

E

qu

ivale

nt

= 1

00

G S

ec : 9

7.6

6

CB

: 0

.80

10.17 y

ears

6.8

0 y

ears

6.9

6%

1.9

0%

1.28

%W

ith

in 3

65

days:

-

10%

of

invst

: N

il -

Rem

ain

ing

invst

: 1%

Su

yash

C

ho

ud

hary

IDF

C D

yn

am

ic B

on

d F

un

d

- A

cti

vely

man

ag

ed

Bo

nd

Fu

nd

-

Po

siti

on

ed

to

take e

xp

osu

re a

cro

ss t

he

yie

ld c

urv

e d

ep

en

din

g u

po

n t

he f

un

d

man

ag

er’

s u

nd

erl

yin

g in

tere

st r

ate

vie

w

2,0

04

A

AA

E

qu

ivale

nt

= 1

00

G S

ec/S

DL

:

98

.95

12.7

1 years

8.0

6 y

ears

7.12

%1.79

%0

.99

%N

ilS

uyash

C

ho

ud

hary

IDF

C G

-Sec F

un

d-I

nvest

men

t P

lan

- A

cti

vely

Man

ag

ed

Gilt

Fu

nd

-

Po

rtfo

lio p

ost

ion

ed

dep

en

din

g o

n

inte

rest

rate

vie

w 4

69

A

AA

E

qu

ivale

nt

= 1

00

G S

ec/S

DL

:

98

.52

13.0

6 y

ears

8.19

Years

7.13

%1.0

3%

0.4

2%

Nil

Su

yash

C

ho

ud

hary

CD

: Cer

tifica

te o

f D

epos

it, C

P: C

omm

erci

al P

aper

, CB:

Cor

pora

te B

ond,

ZC

B: Z

ero

Cou

pon

Bond

Whe

reve

r ap

plic

able

, GSe

c/SD

L yi

elds

hav

e be

en a

nnua

lized

+A

sset

Qua

lity

calc

ulat

ed is

for

fixe

d in

com

e po

rtio

n

*Mon

thly

inco

me

is n

ot a

ssur

ed a

nd is

sub

ject

to

avai

labi

lity

of d

istr

ibut

able

sur

plus

; ++

Has

bee

n ch

ange

d to

IDFC

Ban

king

& P

SU d

ebt

fund

w.e

.f. 1

2th

June

'17

^Th

e ex

pens

es o

f th

e sc

hem

e w

ill b

e ov

er a

nd a

bove

the

exp

ense

s ch

arge

d by

the

und

erly

ing

sche

mes

"

Stan

dard

Dev

iatio

n ca

lcul

ated

bas

is m

onth

ly r

etur

ns f

or p

ast

one

year

$ F

Ds

offe

r a

fixed

rat

e of

ret

urn,

whi

le m

utua

l fun

d re

turn

s ar

e m

arke

t lin

ked.

Ban

k fix

ed d

epos

its a

re r

elat

ivel

y sa

fer

as t

hey

are

cove

red

unde

r D

epos

it In

sura

nce

and

Cre

dit

Gua

rant

ee C

orpo

ratio

n of

Indi

a to

the

ext

ent

of R

s. 1

lakh

per

acc

ount

Div

iden

d fr

eque

ncy:

D-

Dai

ly, W

-Wee

kly,

F-F

ortn

ight

ly, M

- M

onth

ly, B

i-M-B

i-Mon

thly,

Q-

Qua

rter

ly, H

-Hal

f Ye

arly,

A-A

nnua

l, R-

Reg

ular

6

Hyb

rid

Snap

shot

as

on 3

1st J

anua

ry 2

020

Invest

men

t B

ucket

Sch

em

e N

am

eP

osi

tio

nin

gA

uM

(crs

)A

sset

Qu

alit

y(%

)+A

sset

Allo

cati

on

(%)

Std

. D

ev.

Avera

ge

Matu

rity

Mo

difi

ed

D

ura

tio

nY

TM

Exit

Lo

ad

Fu

nd

Man

ag

er

HYBRID FUNDS@

IDF

C H

yb

rid

Eq

uit

y F

un

d#

(p

revio

usl

y k

no

wn

as

IDF

C

Bala

nced

Fu

nd

)

IDF

C H

yb

rid

Eq

uit

y F

un

d

pro

vid

es

a c

om

bin

ati

on

of

eq

uit

y (

betw

een

65

% a

nd

8

0%

) an

d d

eb

t (b

etw

een

20

% a

nd

35

%)

so a

s to

p

rovid

e b

oth

sta

bili

ty o

f re

turn

s an

d p

ote

nti

al o

f g

row

th. B

oth

eq

uit

y a

nd

fixed

in

co

me p

ort

ion

s are

acti

vely

m

an

ag

ed

.

67

1 A

AA

= 1

00

%

Eq

uit

y =

77.

14

CB

= 1

1.37

G-S

ec/S

DL

= 7

.64

CD

= 1

.94

ZC

B =

0.6

5

9.3

3%

3.5

4 y

ears

2.8

1 Y

ears

6.6

2%

Wit

hin

36

5 d

ays:

-

10%

of

invst

: N

il -

Rem

ain

ing

invst

: 1%

Eq

uit

y: A

no

op

B

hask

ar

Deb

t: A

nu

rag

Mit

tal

(w.e

.f. 21s

t N

ov,

20

18)

IDF

C D

yn

am

ic E

qu

ity F

un

d

- D

yn

am

ically

invest

s b

etw

een

E

qu

ity a

nd

Deb

t

- A

n E

qu

ity f

un

d t

hat

bu

ys

less

wh

en

mark

ets

are

exp

en

sive a

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8

1

Commentary - Equity OutlookMr. Anoop Bhaskar Head - Equity

WHAT WENT BY

Global Equity Markets: Global equities witnessed a strong start to the year continuing the strong momentum from Dec-Q. Rising geopolitical tensions between US and Iran were overshadowed by positive news on US-China trade talks with the signing of Phase One trade deal. However, gains in the first half were pared in the second half on concerns about the impact of the Coronavirus in China and its fallout on global growth. The WHO (World Health Organization) has called the outbreak a global health emergency and stepped up efforts to combat the virus. The MSCI World Index was down 1.2% for the month, with the MSCI Emerging Market Index down 4.7% and Developed Market Index almost flat (-0.7%). Indian market was down 1.8% in USD terms, in the middle of the pack. China fell 10.7% MoM, on concerns around Coronavirus.

Coronavirus: The 2019 Coronavirus has caused increasing global concerns with 17,459 confirmed cases; and death toll of 362 people, while 489 have recovered. The death toll is now higher than that from the SARS epidemic, which felled 349 people. The outbreak has battered Chinese stock markets, which have plunged at least 7% after reopening for the first time since they closed for the lunar New Year on 23 January. Trading in several commodities was suspended after losses quickly exceeded their daily limits. China, being a significant part of the global economy as also being the epicenter of most global supply chains, a prolonged pandemic could dent global growth and disrupt supply chains for several companies.

Brexit: Britain formally withdrew from the European Union at 11 p.m. on Friday, January 31st after nearly half a century of EU membership. It concluded three years of fractious debates over whether the country should really leave the bloc, the terms of its departure and the kind of relationship it should forge with Europe. The clear mandate to Boris Johnson in the UK elections and with Brexit behind, uncertainty should reduce going forward. The British pound was flat for the month but has rallied 8.6% over the last 6 months. Despite the strength of the Pound, the UK stock market in USD terms was down almost 4% for the month.

Crude and other metals correct on growth concerns: Coronavirus resulted in fresh spate of global growth concerns with risk of the largest growth engine, China, slowing down further. As a result, most industrial metals and commodities corrected. Brent fell 12% MoM to close at $58.2/barrel. Similarly, metals like Aluminum, Zinc, and Steel etc. were also lower for the month.

Interest rates benign, currencies stable: On the currency side, USD continues to gain strength (+1% MoM). INR fell 0.4% MoM in line with the strong USD. Most global currencies were stable. Interest rates (10 year yields) continue to be benign globally. US 10 year is lower 112 bps from a year ago period and is currently quoting at 1.51%.

Domestic Markets

Budget reasonable but heavily dependent on asset sales: The FY21 Union Budget was presented in parliament on 1 February (Saturday) and the focus was on attracting more foreign capital into the country via both the equity and debt markets and reviving growth gradually. Growth assumptions are well anchored, with nominal GDP forecast to grow by 10%. Tax revenues are forecast to grow at a reasonable 12% (direct taxes at 12.7% and indirect taxes at 11%). Fiscal consolidation has taken a breather, given the growth imperative. The revised fiscal deficit for FY20E is estimated at 3.8% of GDP (vs. the 3.3% targeted initially) and 3.5% for FY21E. Execution remains the key for the FY21E Union Budget. If the asset sale target (including LIC IPO) is not achieved, the underlying fiscal deficit (ex-asset sales) would widen meaningfully in FY21E to 4.5% of GDP from 4.1% of GDP – which could curb Government spending and impacting economic growth. Equity markets, which were hoping for a spurt in Government spending (to revive economic growth) along with capital market related freebies (abolition of LTCG; DDT) reacted negatively, with the Nifty declining by about 2.5%. Most domestic cyclicals underperformed the benchmark meaningfully, with defensive and export-oriented sectors outperforming.

Key highlights of the budget

A cut in personal income tax rates at the low-to-middle levels of about 500bps, estimated to cost the government about ~US$5.6 billion. But investors can avail themselves of the lower tax rate only if they do not use various exemptions currently available, particularly linked to savings and investments – with a possibility of hurting sale of insurance products.

A 13% increase in government expenditure budgeted.

Abolishing the Dividend Distribution Tax (DDT), estimated to cost the government about US$3.5 billion. For individuals this abolition could be a negative, if they are in a tax bracket over 20%, as Dividend received would be clubbed with their annual income.

Easing the foreign ownership limit in Corporate Bonds to 15% of the outstanding stock (vs. 9% earlier). The government will also consider opening up some sovereign bonds to full foreign ownership.

2

In order to incentivize investments by Sovereign Wealth Funds of foreign governments in the priority sectors, the Budget proposed to grant a 100% tax exemption to their interest, dividend and capital gains income in respect of investments made in infrastructure before 31 March, 2024 and with a minimum lock-in period of three years.

Government is targeting almost US$30bn from the divestment program in FY21E, vs. about US$10bn in FY20E (vs US$15bn targeted earlier).

Central government capital expenditure has firmed – albeit modestly – in recent years, from 1.6% of GDP FY19 to 1.7% of GDP in FY20 and budgeted to rise to 1.8% of GDP in FY21.

Equity Markets: Broader markets were positive for the month with the Nifty Small Cap 100 (+6.7% MoM) and Nifty Mid Cap 100 (+5.3% MoM) outperforming NIFTY50 (-1.7% MoM). Mid-Caps (+13.1%) and Small Cap (+12.8%) are now outperforming NIFTY (+7.6%) on a 6-month basis, for the first time in 2 years. Budget was a dampener for the markets, so investors will have to wait and watch if this burst of broader market rally continues.

On a sectoral front, Telecom continued to outperform (+5.6% MoM) and is now the best performing sector across 3 month (+30.4%), 6 month (+29.1%) and 1 year (+20.7%) timeframes as well. Metals and Oil & gas were the laggards as global commodity prices corrected.

CPI rose for second month running: Headline CPI rose to 7.35% in December (vs. 5.54% in November) and came above consensus estimates (6.7%). This was the highest inflation print in more than 5 years. The increase was largely on the back of high food inflation (12). Meanwhile, the core-core inflation remained relatively muted.

3

Composite PMI: For December at 53.7 improved sequentially (Nov. print: 52.7). The improvement in December PMI was led by Manufacturing which improved +1.5pt mom to 52.7 while Services gained +0.6pt mom to 53.3. The internals of the PMI report were also encouraging with the forward-looking composite new orders rising +1.3 to 54.1, across both services and manufacturing. Composite new export orders gained +0.2pt mom to 51.9.

IIP rose +1.8% in November: After 3 consecutive months of declining prints and came better than consensus (+0.3%). Sequentially IP increased 4.1% m/m, sa – the highest in 2 years, on the back of 2.4% sequential gain in October. On the use-based front, both consumer durables and non-durables production saw noticeable sequential increases (+10.7% and +3.3% m/m, sa respectively) after three successive declines.

India’s monthly trade deficit: At $11.3bn decreased in December vs. prior month ($12.1bn) and came below consensus expectations ($11.6bn). Merchandise exports were down -1.8% while Imports were down -8.8% in December. Gold imports fell -3.9% in December (vs. 6.6% increase in Nov). Imports ex Oil and Gold declined -12.2% in December (vs -12% decline in Nov), the 12th consecutive month of YoY decline.

Benchmark 10 year treasury: Yields averaged at 6.58% in January (5bps lower vs December avg). On month end values, 10Y yields rose (+5bps mom) and ended the month at 6.60%. Global yields eased meaningfully following concerns around negative implications on global growth from the Coronavirus outbreak. US 10Y yields are at 1.51% (-41bps in 1M, -112bps over the last 1 year).

India’s FX reserves: Are at an all-time peak of US$467bn as of 24th January (+US$9.2bn in the last 4 weeks). The jump in Fx reserves should be seen in the context of falling current account deficit (CAD), largely driven by a fall in imports, while exports continue to remain limp. At 1.5%, CAD is one of the lowest since 2013 and reflects the marked slowdown in economic activity.

FPI flows continue to be robust: FPIs recorded net inflows of US$2.0bn in Indian equities in the month of January (vs. net inflows of US$862mn in Dec-19). January is the fifth consecutive month of FII inflows in Indian equities. FIIs recorded net outflows in debt markets at US$1.6bn in January (vs. net outflows of US$756mn in Dec-19). January is the third consecutive month of FII outflows from the debt markets. DIIs turned net equity buyers at US$316mn in January (vs. net outflows of US$104mn in Dec-19). Mutual funds were net equity buyers at US$214mn in January (vs. inflows of US$254mn in Dec-19). Insurance funds were net equity sellers of US$475mn in January (vs. outflows of US$358mn in Dec-19). Mutual fund and insurance fund flow data is as of 29-Jan.

Earnings Outlook: Of the BSE 200 companies, 90 companies have reported results. The Sales, EBITDA, PBT and PAT for these companies have been -2.4%, +8.9%, +16% and +26% respectively. Though, sales are expected to degrow for the second quarter running, the trajectory of EBITDA and PBT growth is encouraging. A large chunk of PBT growth is driven by Corporate Banks (ex Financials PBT is up 6%). PAT growth is higher on account of corporate tax cuts.

PBT growth was driven largely by corporate banks. For the 90 companies, absolute PBT was up Rs 17,900 cr from 1,12,700 cr to 1,30,600 cr, of this 11,000 cr was from Corporate Banks. PAT increased more than PBT on account of corporate tax cuts - PAT increased by Rs 20,600cr in absolute terms. Auto and Oil & Gas are other 2 sectors that have contributed to the growth. Commodities led by metals have been the key detractors.

The market, since Jan-18 has been clearly two tiered with 70-80 stocks out of BSE 500 generating positive returns. The focus on “High Quality, Consistent Earnings” has been the most successful play during this period. Valuation gap between the “have beens” and the “has beens” is now at one of the widest levels. Given the slowdown in earnings growth even for the “High Quality Consistent Earnings” segment, a substantial part of the returns during the last 18 months has been derived from P/E re-rating. Is this P/E re-rating an endless exercise? The NSE Small Cap Index trades at 17.5x on Positive PE basis; 14.4x on FY20 estimate earnings and 2.1x Price to Book. NIFTY, trades at 21.1x positive PE; 17.5x FY20 earnings and 2.9x Price to Book.

Continuing from our last month’s theme of Sentiment being the first pillar to undergo change for a new market cycle, outperformance of mid-cap and positive returns in Small Cap could indicate early signs of such a reversal. Domestic Sentiments, from being weak, have improved on account of positive Government announcements - Corporate Tax, the 100 trillion INR infra plan, though the budget has been a dampener. Globally, Sentiments did improve as the US-China trade war shows signs of resolving, but the outbreak of the Coronavirus has put a new spanner in the works.

Liquidity, the second “building block”, is already being tackled domestically, with increased pressure on PSU banks to re-start lending to NBFCs, payments delayed by Government have also been speeded. Valuations, as mentioned earlier, are more modest for the broader market, approaching appetizing levels. Despite the low GDP growth, earnings growth is expected to be atleast double digit driven by corporate tax cuts and recovery in Corporate Bank NPAs. If the first three “building blocks” of “SLV” converge, a new upswing could commence. The folly, would be to wait for the Fundamentals, alone, as the most critical ingredient for any new upswing.

4

Source: Bloomberg

Currency & Commodities Last Price % Change YTD % Change MTD

USD / INR 71.355 -0.04% -0.04%

Dollar Index 97.39 1.04% 1.04%

Gold 1,589.16 4.74% 4.74%

WTI (Nymex) 51.56 -15.56% -15.56%

Brent Crude 58.16 -11.88% -11.88%

India Macro Analysis Latest Equity Flows USD Mn

GDP 4.50 FII (USD mln)

IIP 1.80 YTD 1,984.52

Inflation (WPI Monthly) 2.59 MTD 1,984.52

Inflation (CPI Monthly) 7.35 *DII (USD mln)

Commodity (CRB Index) 404.17 YTD -311.96

MTD -311.96*DII : Domestic Mutual Funds

Data as on 31st January 2020

Equity Markets Index % Change YTD % Change MTD P/E

Nifty 11,962.10 -1.70% -1.70% 22.00

Sensex 40,723.49 -1.29% -1.29% 22.92

Dow Jones 28,256.03 -0.99% -0.99% 18.50

Shanghai 2,976.53 -2.41% -2.41% 10.41

Nikkei 23,205.18 -1.91% -1.91% 18.35

Hang Sang 26,312.63 -6.66% -6.66% 10.53

FTSE 7,286.01 -3.40% -3.40% 13.48

MSCI E.M. (USD) 1,062.34 -4.69% -4.69% 12.95

MSCI D.M.(USD) 2,342.41 -0.68% -0.68% 17.64

MSCI India (INR) 1,358.08 -0.84% -0.84% 22.51

5

WHAT WENT BY

The ten year benchmark bond yield ended the month at 6.60% compared to 6.51% in the beginning of the month as market awaited directions from the Union budget and RBI monetary policy.

The budget came under obviously difficult circumstances given the need to generate a net positive fiscal impulse in view of weaker economic growth, while honoring the need for some fiscal discipline against an adverse revenue picture. Measured against this ask, the finance minister has broadly delivered. The fiscal deficit numbers for the current year and next are in line with market expectations at 3.8% and 3.5% of GDP respectively. Gross market borrowing for next year at INR 7,81,000 crores is similarly in the ball-park expectation range, while no extra borrowing for the current year is an unequivocal positive surprise for the market. A greater reliance on capital receipts, if fructified, will ensure that the fiscal impulse stays positive even as there is a 0.3% net consolidation in deficit into FY21.

The finance minister has also furthered the opening up of our local bond market to off-shore investors - participating limit for foreign portfolio investors (FPIs) in corporate bonds hiked from 9% of outstanding currently to 15%. Also importantly, certain specified categories of government securities would be opened fully for non-resident investors, apart from being available to domestic investors as well. It may be argued that overall interest in Indian bonds is anyway muted for now and hence these expansions may amount to little in the near term. The other view to take could be that incremental ease of operation does bring in more flow (all other things being equal) and that especially the measure on government bonds could be in the direction of ultimate inclusion in global bond indices.

We had noted our surprise over the December 2019 monetary policy, on not so much the status quo but the possible underplaying of the continued space for countercyclical role for monetary policy in the near term. We had found the larger than anticipated focus on supply side inflation in the face of a 3 – 4% fall in nominal GDP for the year somewhat difficult to square with. We had, however, found some resolution when the RBI subsequently unveiled “Operation Twist” to help accelerate transmission even as near term projected CPI was threatening to cross 7%. The February 2020 policy has offered further the evidence that the RBI is indeed following a practitioner’s approach to policy and that while the Monetary Policy Committee (MPC) may not have room currently to cut rates on the back of higher near term CPI, the RBI has other tools in its tool-kit to continue with its countercyclical responses.

First from a MPC standpoint, the status quo delivered on policy rates was fully expected and par for the course. Given the uncertainties with respect to near term inflation trajectory, any prudent committee will await further information. This is especially true since, as noted in the policy document, there are pressures beyond only in vegetables (milk and pulses for instance) in the current trajectory of prices. To its credit, however, the MPC hasn’t muddled communication and has clearly recognized space to act in the future. Implicit here seems to be a greater recognition of the growth-inflation trade-off for now rather than a point focus on 4% CPI at all points in time. Thus, the MPC has kept the accommodative stance and guidance for future easing alive on the back of an assessment that CPI slides to 3.2% by Q3 FY 21, even as the average CPI for FY 20 breaches 4% comfortably and so does the average forecast for the next 3 quarters.

The bigger points in the policy concern the liquidity operations of the central bank. The daily fixed rate repo and four 14-day term repos every fortnight being conducted, at present, are being withdrawn. From the fortnight beginning on February 15, 2020, the RBI shall conduct term repos of one-year and three-year tenors of appropriate sizes for up to a total amount of INR 1,00,000 crore at the policy repo rate. This should encourage banks to undertake maturity transformation smoothly and seamlessly so as to augment credit flows to productive sectors, as per the central bank. Additionally, the scheduled commercial banks will be allowed to deduct the equivalent of incremental credit disbursed by them as retail loans for automobiles, residential housing and loans to micro, small and medium enterprises (MSMEs), over and above the outstanding level of credit to these segments as at the end of the fortnight ended January 31, 2020 from their net demand and time liabilities (NDTL) for maintenance of cash reserve ratio (CRR). This exemption will be available for incremental credit extended up to the fortnight ending July 31, 2020.

Commentary - Debt OutlookMr. Suyash Choudhary

Head - Fixed Income

6

Going Forward

Our continued assessment over the past few months has been that there possibly has been a general under-appreciation of the gravity of our current slowdown (https://www.idfcmf.com/article/996). We have therefore had great sympathy for continued counter-cyclical responses even as the need for more urgency on structural reforms cannot be underplayed. Our only point has been that there needs to be adequate appreciation of where the maximum depth available is for countercyclical response. We have also been cognizant of the moral hazard issue when exploring the avenues for non-traditional responses. For that reason, while we have been happy to support a twist or outright open market purchases of bonds, we have baulked at endorsing a ‘bail-out’ package for stressed balance-sheets. The February policy has been quite consistent with the underlying macro-environment. This is especially also given the new threat to global growth in the form of the Coronavirus as well as the obvious limits to fiscal policy that have been clearly evident in the just announced Union Budget.

From a strategy standpoint, the value in quality front end bonds (up to 5 years) stands reaffirmed after the long term repo announcements. These repos will enable participants to lock in the current cost of money for longer and then deploy as per risk appetite. At the very least, it should enable greater appetite for front end sovereign bonds. Importantly, the RBI Deputy Governor has kept these operations distinct from durable liquidity operations like open market purchase of bonds and has clarified that the intent behind twist operations has been to strengthen transmission into corporate bond yields. Sporadic twist operations are thus quite likely in the future, although the urgency may not be as great immediately given new tools for transmission that have been unveiled in the policy (long term repo and selective CRR dispensation).

In our actively managed bond and gilt funds, we have been heavily overweight ‘high beta’ 13 year government bonds till after the budget, basis our view that the market was perhaps over-fearing the event. Since the budget we have shifted these portfolios more in favor of 8 – 10 year government bonds on the higher absolute value offered in this segment and since the “momentum” trade generated post budget may have soon dissipated. We find this positioning conducive to the monetary policy announcements. Government bonds up to 5 years or so may find even greater support in context of the long term repo operations. For ‘real money’ that wants somewhat higher duration given an otherwise conducive rate environment, the 5 – 10 year part of the curve may thus offer reasonable value. As always, this strategy represents our current thoughts and is subject to change at short notice in light of market dynamics and our own evolving assessment.

7

IDFC Core Equity Fund(previously known as IDFC Classic Equity Fund) Large & Mid Cap Fund - An open ended equity scheme investing in both large cap and mid cap stocks31st January 2020

FUND FEATURES

Size

Large Cap

Mid Cap

Small Cap

Style Growth Blend Value

Top 10 Equity Holdings

Performance TableScheme Name CAGR Returns (%) Current Value of Investment of ` 10,000

1 Year 3 Years 5 YearsSince Inception Aug 09, 2005

1 Year 3 Years 5 YearsSince InceptionAug 09, 2005

IDFC Core Equity Fund 10.06% 9.22% 8.03% 11.23% 11,006 13,031 14,717 46,730

NIFTY LargeMidcap 250 TRI# 11.22% 11.62% 9.11% 13.73% 11,122 13,908 15,472 64,507

Nifty 50 TRI## 11.84% 13.29% 7.67% 13.38% 11,184 14,540 14,476 61,702

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns.

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Core Equity Fund - Regular Plan - Growth

1 Year 3 Years 5 Years 7 Years 10 YearsSince

InceptionAug 09, 2005

Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 17,40,000 Total Value as on January 31, 2020 (`) 1,27,565 3,87,166 7,37,878 12,08,532 20,56,744 37,47,918 Fund Returns (%) 11.85 4.78 8.20 10.21 10.39 9.92Total Value of NIFTY LargeMidcap 250 TRI# 1,28,097 3,97,963 7,67,509 13,19,858 23,38,093 46,75,351 NIFTY LargeMidcap 250 TRI (%)# 12.70 6.61 9.78 12.68 12.79 12.63Total Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 21,43,556 41,67,524 Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.23Past performance may or may not be sustained in future.Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration. To illustrate the advantages of SIP investment, this is how your investment would have grown if you had invested say `10,000 systematically on the first business Day of every month over a period of time. Returns are calculated by using XIRR approach. XIRR helps in calculating return on investment given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Data as on 31st January 2020

Riskometer

Investors understand that their principal will be at Moderately High risk

This product is suitable for investors who are seeking*:

To create wealth over long term.• Investment predominantly in equity and equity • related instruments in large and mid-cap companies.

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

NAV (`)

Regular Plan Growth 46.73Regular Plan Dividend 15.31

PORTFOLIO

Name % of NAVEquity and Equity related Instruments 98.19%Banks 28.76%ICICI Bank 6.92%HDFC Bank 6.35%Axis Bank 5.29%State Bank of India 4.87%Kotak Mahindra Bank 1.89%RBL Bank 1.53%The Federal Bank 1.34%City Union Bank 0.58%Pharmaceuticals 9.19%IPCA Laboratories 2.59%Alkem Laboratories 1.36%Sun Pharmaceutical Industries 1.33%Indoco Remedies 1.28%Dr. Reddy's Laboratories 1.06%Cadila Healthcare 0.97%Lupin 0.61%Auto Ancillaries 6.43%MRF 2.26%Apollo Tyres 1.35%Exide Industries 1.03%Balkrishna Industries 0.98%Minda Industries 0.42%Asahi India Glass 0.39%Petroleum Products 5.85%Reliance Industries 3.65%Bharat Petroleum Corporation 1.34%Hindustan Petroleum Corporation 0.87%Cement 5.74%ACC 1.62%The Ramco Cements 1.49%Ambuja Cements 1.42%Dalmia Bharat 0.94%Deccan Cements 0.27%Finance 5.58%ICICI Securities 2.10%M&M Financial Services 1.60%Sundaram Finance 1.18%Mas Financial Services 0.70%Software 5.57%Infosys 3.35%Birlasoft 0.66%Mastek 0.64%KPIT Technologies 0.49%MphasiS 0.43%

Name % of NAVConstruction Project 4.62%Larsen & Toubro 3.12%KEC International 1.50%Retailing 4.38%Future Retail 1.70%Aditya Birla Fashion and Retail 1.46%Future Lifestyle Fashions 1.23%Industrial Products 3.85%Supreme Industries 1.58%AIA Engineering 1.53%Cummins India 0.71%Bharat Forge 0.02%Consumer Durables 3.75%Titan Company 1.49%Voltas 1.13%Crompton Greaves Consumer Electricals 1.13%Power 2.93%Torrent Power 1.39%Kalpataru Power Transmission 0.99%Nava Bharat Ventures 0.55%Hotels, Resorts And Other Recreational Activities 2.15%The Indian Hotels Company 2.15%Gas 1.78%Mahanagar Gas 1.31%Gujarat State Petronet 0.47%Ferrous Metals 1.77%Jindal Steel & Power 1.77%Consumer Non Durables 1.67%GlaxoSmithKline Consumer Healthcare 1.11%Emami 0.32%Tata Global Beverages 0.23%Chemicals 1.26%Deepak Nitrite 1.26%Industrial Capital Goods 1.13%Thermax 1.13%Non - Ferrous Metals 0.92%Vedanta - Equity Futures 0.92%Auto 0.86%Mahindra & Mahindra 0.86%Preference Shares 0.01%Media & Entertainment 0.01%Zee Entertainment Enterprises 0.01%Net Cash and Cash Equivalent 1.80%Grand Total 100.00%

SECTOR ALLOCATION MARKET CAP

Large Cap 48.30%Mid Cap 42.68%Small Cap 9.03%

About the Fund: IDFC Core Equity Fund is a diversified equity fund with a large and mid cap bias currently. The focus of the fund is to build a portfolio of Quality companies while being cognizant of the relative valuation.

Category: Large & Mid Cap

Monthly Avg AUM: ` 2,806.60 Crores

Month end AUM: ` 2,779.81 Crores

Inception Date: 9 August 2005

Fund Manager: Mr. Anoop Bhaskar (w.e.f. 30th April 2016)

Other Parameter: Beta 0.92

R Square 0.94

Standard Deviation (Annualized) 13.06%

Sharpe* 0.32

Portfolio Turnover Equity 0.25

Aggregate^ 0.42

Expense Ratio Regular 1.97%

Direct 0.79%

Benchmark: NIFTY LargeMidcap 250 TRI (w.e.f. 7th October 2019) SIP (Minimum Amount): ` 100/- (Minimum 6 instalments) SIP Frequency: Monthly

SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount : ` 5,000/- and any amount thereafter

Option Available: Growth, Dividend - (Payout, Reinvestment and Sweep (from Equity Schemes to Debt Schemes only))

Exit Load: 1% if redeemed within 365 days from the date of allotment. (w.e.f. 10th May 2016)

8

IDFC Sterling Value Fund(previously known as IDFC Sterling Equity Fund)An open ended equity scheme following a value investment strategy31st January 2020

FUND FEATURES

Size

Large Cap

Mid Cap

Small Cap


About the Fund: IDFC Sterling Value Fund is a value fund that focuses on active stock selection strategy.

Category: Value



Inception Date: 7 March 2008

Fund Manager: Mr. Anoop Bhaskar (w.e.f. 30th April 2016) & Mr. Daylynn Pinto (w.e.f. 20th October 2016)

Other Parameter:

Beta 0.84

R Square 0.92


Sharpe* 0.18

Portfolio Turnover

Equity 0.15 Aggregate^ 0.19

Expense Ratio

Regular 2.00%

Direct 0.99%

Benchmark: S&P BSE 400 MidSmallCap TRI (w.e.f. 11th November, 2019)

SIP (Minimum Amount): ` 100/- (Minimum 6 instalments) SIP Frequency: Monthly

SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount : ` 5,000/- and any amount thereafter

Option Available: Growth, Dividend (Payout, Reinvestment and Sweep (from Equity Schemes to Debt Schemes only))

Exit Load: 1.00% if redeemed on or before 365 days from the date of allotment. (w.e.f. 7th September, 2015)


Performance Table

Scheme Name CAGR Returns (%) Current Value of Investment of ` 10,000

1 Year 3 Years 5 YearsSince InceptionMar 07, 2008


IDFC Sterling Value Fund$ 3.14% 7.87% 5.96% 14.32% 10,314 12,552 13,359 49,220

S&P BSE 400 MidSmallCap TRI# 9.56% 7.42% 8.14% 8.80% 10,956 12,395 14,795 27,299

Nifty 50 TRI## 11.84% 13.29% 7.67% 9.32% 11,184 14,540 14,476 28,914

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns.$The fund has been repositioned from a mid cap fund to a value fund w.e.f. May 28, 2018.

Riskometer



To create wealth over long term.•

Investment predominantly in equity and equity • related instruments following a value investment strategy.


NAV (`)Regular Plan Growth 49.22Regular Plan Dividend 19.26

PORTFOLIO

Name % of NAVEquity and Equity related Instruments 96.54%Banks 12.09%Axis Bank 3.62%ICICI Bank 3.59%RBL Bank 2.62%Bank of Baroda 1.21%The Federal Bank 1.05%Auto Ancillaries 10.88%MRF 2.16%Minda Industries 1.69%Exide Industries 1.59%Asahi India Glass 1.05%Tube Investments of India 1.01%Wheels India 1.00%Apollo Tyres 0.88%WABCO India 0.78%Igarashi Motors India 0.37%Sterling Tools 0.34%Cement 9.70%JK Cement 2.56%The Ramco Cements 2.48%ACC 1.96%Prism Johnson 1.17%Dalmia Bharat 1.09%Sagar Cements 0.44%Finance 8.58%Mas Financial Services 2.28%ICICI Securities 2.02%ICICI Lombard General Insurance Company 1.97%M&M Financial Services 1.15%Magma Fincorp 0.73%BSE 0.43%Retailing 6.87%Future Retail 3.20%Aditya Birla Fashion and Retail 1.32%Future Lifestyle Fashions 1.25%V-Mart Retail 1.10%Consumer Durables 5.97%Voltas 1.98%Crompton Greaves Consumer Electricals 1.77%Greenply Industries 1.37%Greenpanel Industries 0.50%Butterfly Gandhimathi Appliances 0.36%Software 4.50%Birlasoft 1.16%Cyient 1.15%Persistent Systems 1.13%KPIT Technologies 1.06%Construction Project 4.40%KEC International 2.95%

Name % of NAVNCC 1.45%Pharmaceuticals 3.64%IPCA Laboratories 2.20%Aurobindo Pharma 1.05%Dishman Carbogen Amcis 0.39%Ferrous Metals 3.60%Jindal Steel & Power 2.29%Maharashtra Seamless 0.95%Kirloskar Ferrous Industries 0.36%Consumer Non Durables 3.39%Tata Global Beverages 1.13%Emami 1.12%Procter & Gamble Hygiene and Health Care 0.92%HBL Power Systems 0.22%Power 3.04%Kalpataru Power Transmission 1.43%CESC 0.95%Nava Bharat Ventures 0.66%Transportation 2.69%VRL Logistics 1.82%Future Supply Chain Solutions 0.87%Hotels, Resorts And Other Recreational Activities 2.63%The Indian Hotels Company 1.94%EIH 0.69%Textile Products 2.57%Raymond 1.14%K.P.R. Mill 1.11%Dollar Industries 0.32%Chemicals 2.17%Deepak Nitrite 2.17%Industrial Products 2.10%Polycab India 1.13%Graphite India 0.79%Bharat Forge 0.18%Gas 2.06%Gujarat Gas 2.06%Textiles - Cotton 1.91%Vardhman Textiles 1.47%Nitin Spinners 0.45%Industrial Capital Goods 1.90%Bharat Electronics 1.13%Lakshmi Machine Works 0.35%Skipper 0.22%CG Power and Industrial Solutions 0.19%Petroleum Products 1.59%Hindustan Petroleum Corporation 1.59%Media & Entertainment 0.24%Entertainment Network (India) 0.24%Net Cash and Cash Equivalent 3.46%Grand Total 100.00%

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Sterling Value Fund - Regular Plan - Growth


InceptionMar 07, 2008

Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 14,30,000

Total Value as on January 31, 2020 (`) 1,22,938 3,53,991 6,83,356 11,88,629 21,70,023 33,68,244

Fund Returns (%) 4.55 -1.09 5.14 9.75 11.40 13.55

Total Value of S&P BSE 400 MidSmallCap TRI# 1,30,362 3,70,268 7,08,298 12,59,226 21,57,268 30,56,526

S&P BSE 400 MidSmallCap TRI (%)$ 16.33 1.83 6.57 11.36 11.28 12.07

Total Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 21,43,556 29,40,412

Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.48Past performance may or may not be sustained in future.Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration. To illustrate the advantages of SIP investment, this is how your investment would have grown if you had invested say `10,000 systematically on the first business Day of every month over a period of time. Returns are calculated by using XIRR approach. XIRR helps in calculating return on investment given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Data as on 31st January 2020



9

IDFC Multi Cap Fund(previously known as IDFC Premier Equity Fund)Multi Cap Fund- An open ended equity scheme investing across large cap, mid cap and small cap stocks 31st January 2020

FUND FEATURES

Size

Large Cap

Mid Cap

Small Cap


About the Fund: IDFC Multi Cap Fund is a multi-cap Equity Fund. It is a fund that encourages systematic investing.

Category: Multicap



Inception Date: 28 September 2005

Fund Manager: Mr. Anoop Bhaskar (w.e.f. 30th April 2016)

Other Parameter:

Beta 0.92

R Square 0.82


Sharpe* 0.37

Portfolio Turnover


Expense Ratio

Regular 1.96%

Direct 1.27%

Benchmark: S&P BSE 500 TRI


SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount: ` 10,000/- and any amount thereafter

(Units of IDFC Multi Cap Fund, shall be available for lump sum subscription w.e.f. May 07, 2018)


Exit Load: 1.00% if redeemed before 365 days from the date of allotment. (w.e.f. 1st September, 2009)


Performance Table


1 Year 3 Years 5 YearsSince Inception Sep 28, 2005

1 Year 3 Years 5 YearsSince InceptionSep 28, 2005

IDFC Multi Cap Fund 14.20% 9.84% 7.05% 17.35% 11,420 13,252 14,066 99,330

S&P BSE 500 TRI# 10.80% 11.66% 7.97% 12.31% 11,080 13,921 14,679 52,877

Nifty 50 TRI## 11.84% 13.29% 7.67% 12.59% 11,184 14,540 14,476 54,831

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns. Current Index performance adjusted for the period from since inception to June 28, 2007 with the performance of S&P BSE 500 price return index (Benchmark)

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Multi Cap Fund -Regular Plan - Growth


InceptionSep 28, 2005



Fund Returns (%) 15.83 6.17 7.38 11.38 13.06 15.75

Total Value of S&P BSE 500 TRI# 1,26,199 4,00,114 7,61,967 12,57,621 21,64,518 41,59,280

S&P BSE 500 TRI (%)# 9.68 6.98 9.49 11.33 11.35 11.34


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.17Past performance may or may not be sustained in future.Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration. To illustrate the advantages of SIP investment, this is how your investment would have grown if you had invested say `10,000 systematically on the first business Day of every month over a period of time. Returns are calculated by using XIRR approach. XIRR helps in calculating return on investment given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Data as on 31st January 2020

Riskometer




Investment predominantly in equity and • equity related instruments across market capitalisation.


NAV (`)


PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 96.97%Banks 27.06%ICICI Bank 7.81%HDFC Bank 6.74%Axis Bank 5.79%Kotak Mahindra Bank 3.23%City Union Bank 2.73%RBL Bank 0.75%Consumer Durables 10.98%Bata India 3.26%Voltas 3.02%Crompton Greaves Consumer Electricals 2.31%Titan Company 1.60%Greenlam Industries 0.79%Consumer Non Durables 10.64%Asian Paints 2.83%Britannia Industries 1.76%Procter & Gamble Hygiene and Health Care 1.57%Nestle India 1.53%Hindustan Unilever 1.07%GlaxoSmithKline Consumer Healthcare 0.69%Jubilant Foodworks 0.65%S H Kelkar and Company 0.55%Finance 9.38%Multi Commodity Exchange of India 1.73%ICICI Securities 1.50%HDFC Life Insurance Company 1.46%Bajaj Finance 1.30%ICICI Lombard General Insurance Company 1.27%JM Financial 1.22%Mas Financial Services 0.89%Chemicals 4.66%Atul 2.15%Fine Organic Industries 1.28%Pidilite Industries 1.24%Industrial Products 4.58%Schaeffler India 1.49%Supreme Industries 1.37%AIA Engineering 1.13%Kirloskar Pneumatic Company 0.59%Construction Project 4.35%Larsen & Toubro 3.81%

Name % of NAV

Power Mech Projects 0.54%Commercial Services 4.07%3M India 4.07%Retailing 3.29%Avenue Supermarts 1.84%Future Retail 1.09%Future Lifestyle Fashions 0.37%Software 3.00%Infosys 3.00%Pharmaceuticals 2.34%Sun Pharmaceutical Industries 1.40%Divi's Laboratories 0.48%Cadila Healthcare 0.46%Cement 2.26%UltraTech Cement 2.26%Auto Ancillaries 2.09%Minda Industries 1.44%MRF 0.64%IT Consulting & Other Services 1.92%Cognizant Technology Solutions Corp - International Equities 1.92%Industrial Capital Goods 1.88%Thermax 0.82%ABB India 0.56%Disa India 0.42%ABB Power Products and Systems India 0.08%Ferrous Metals 1.30%APL Apollo Tubes 1.30%Textiles - Cotton 1.10%Vardhman Textiles 1.10%Transportation 0.87%Transport Corporation of India 0.87%Pesticides 0.51%Dhanuka Agritech 0.51%Media & Entertainment 0.44%Entertainment Network (India) 0.44%Construction 0.24%Poddar Housing and Development 0.24%Net Cash and Cash Equivalent 3.03%Grand Total 100.00%



10

IDFC Focused Equity Fund (The Fund was earlier known as IDFC Imperial Equity Fund)$$ An open ended equity scheme investing in maximum 30 stocks with multi cap focus31st January 2020

FUND FEATURES

Size

Large Cap

Mid Cap

Small Cap


About the Fund: IDFC Focused Equity Fund is a concentrated portfolio of up to 30 stocks with the flexibility to invest across sectors and across market cap.

Category: Focused




Fund Manager: Mr. Sumit Agrawal (w.e.f. 20th October 2016)

Other Parameter:

Beta 0.95

R Square 0.74


Sharpe* 0.53

Portfolio Turnover

Equity 1.06

Aggregate^ 1.48

Expense Ratio

Regular 2.16%

Direct 0.87%

Benchmark: S&P BSE 500 TRI (with effect from November 11, 2019)


SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.Investment Objective: Refer Pg No from 49 to 50

Minimum Investment Amount$: ` 5,000/- and any amount thereafter


Exit Load: 1.00% if redeemed before 365 days from the date of allotment. (w.e.f. 1st September 2009)


Performance Table




IDFC Focused Equity Fund 11.99% 12.54% 6.44% 10.36% 11,199 14,253 13,666 39,320

S&P BSE 500 TRI# 10.80% 11.66% 7.97% 11.00% 11,080 13,921 14,679 42,592

Nifty 50 TRI## 11.84% 13.29% 7.67% 11.25% 11,184 14,540 14,476 43,963

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns. $$ The strategy of the Fund has been changed from large cap to focused fund w.e.f. April 18, 2017

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Focused Equity Fund - Regular Plan - Growth





Fund Returns (%) 18.02 5.65 8.76 9.82 9.40 9.63


S&P BSE 500 TRI (%)# 9.68 6.98 9.49 11.33 11.35 11.21


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.00

Past performance may or may not be sustained in future.Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration. To illustrate the advantages of SIP investment, this is how your investment would have grown if you had invested say `10,000 systematically on the first business Day of every month over a period of time. Returns are calculated by using XIRR approach. XIRR helps in calculating return on investment given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Data as on 31st January 2020

Riskometer




Investment in a concentrated portfolio of equity • and equity related instruments of up to 30 companies.


NAV (`)


PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 96.54%Banks 17.77%HDFC Bank 7.64%ICICI Bank 4.88%Kotak Mahindra Bank 2.88%Axis Bank 2.36%Finance 16.30%ICICI Securities 6.24%HDFC 5.99%Bajaj Finance 4.08%Software 11.30%Infosys 5.27%Tata Consultancy Services 3.15%Majesco 2.88%Chemicals 7.34%Fine Organic Industries 7.34%Auto 6.63%TVS Motor Company 3.94%Maruti Suzuki India 2.70%Petroleum Products 6.44%Reliance Industries 6.44%

Name % of NAV

Telecom - Services 5.31%Bharti Airtel 5.31%Commercial Services 4.54%Security and Intelligence Services (India) 4.54%Consumer Durables 4.44%Voltas 2.41%Titan Company 2.03%Cement 3.92%UltraTech Cement 3.92%Textile Products 3.61%SRF 3.61%Retailing 3.34%Aditya Birla Fashion and Retail 3.34%Consumer Non Durables 3.18%Jubilant Foodworks 3.18%Construction Project 2.41%Larsen & Toubro 2.41%Net Cash and Cash Equivalent 3.46%Grand Total 100.00%



11

IDFC Large Cap Fund(previously known as IDFC Equity Fund)

Large Cap Fund- An open ended equity scheme predominantly investing in large cap stocks

31st January 2020

FUND FEATURES

Size

Large Cap

Mid Cap

Small Cap


About the Fund: IDFC Large Cap Fund focuses on investing predominantly in Large Cap stocks.

Category: Large Cap

Monthly Avg AUM: ` 469.36 Crores

Month end AUM: ` 466.82 Crores

Inception Date: 9 June 2006

Fund Manager: Mr. Sumit Agrawal & Mr. Arpit Kapoor (w.e.f. 1st March 2017)

Other Parameter:

Beta 0.94

R Square 0.93


Sharpe* 0.50

Portfolio Turnover

Equity 0.97

Aggregate^ 1.29

Expense Ratio

Regular 2.53%

Direct 1.53%

Benchmark: S&P BSE 100 TRI (w.e.f. April 18, 2017)

SIP (Minimum Amount): ` 100/- (Minimum 6 instalments)

SIP Frequency: Monthly

SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.

Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount : ` 5,000/- and any amount thereafter

Option Available: Growth, Dividend (Payout, Reinvestment and Sweep (from Equity Schemes to Debt Schemes only))

Exit Load: NIL (w.e.f. 4th February 2019)


Performance Table


1 Year 3 Years 5 YearsSince InceptionJun 09, 2006


IDFC Large Cap Fund 10.49% 11.08% 5.91% 9.43% 11,049 13,705 13,329 34,220

S&P BSE 100 TRI# 10.58% 12.24% 7.07% 12.17% 11,058 14,141 14,079 47,994

Nifty 50 TRI## 11.84% 13.29% 7.67% 12.40% 11,184 14,540 14,476 49,348

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future. For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns. Current Index performance adjusted for the period from since inception to April 18, 2017 with the performance of Nifty 50 TRI (Benchmark)Current Index performance adjusted for the period from since inception to June 28, 2007 with the performance of S&P BSE 100 price return index (Benchmark) The fund has been repositioned from an IPO fund to a large cap fund w.e.f. April 18, 2017

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Large Cap Fund - Regular Plan - Growth


InceptionJun 09, 2006



Fund Returns (%) 11.59 7.13 8.67 9.42 9.60 9.47


S&P BSE 100 TRI (%)# 8.12 8.12 10.01 11.16 11.22 11.14


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.01


Riskometer




Investment predominantly in equity and equity • related instruments of the large cap companies.


NAV (`)


PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 97.70%Banks 23.78%HDFC Bank 9.14%ICICI Bank 5.95%Kotak Mahindra Bank 3.58%Axis Bank 3.03%State Bank of India 2.07%Finance 13.24%HDFC 7.45%Bajaj Finance 3.74%Aavas Financiers 2.05%Consumer Non Durables 11.72%ITC 4.10%Jubilant Foodworks 2.75%Hindustan Unilever 2.53%Asian Paints 1.22%Nestle India 1.12%Software 10.04%Infosys 6.12%Tata Consultancy Services 3.92%Petroleum Products 7.98%Reliance Industries 7.98%Cement 5.32%UltraTech Cement 3.22%HeidelbergCement India 1.09%JK Cement 1.01%

Name % of NAV

Auto 5.21%Maruti Suzuki India 1.99%Hero MotoCorp 1.09%Mahindra & Mahindra 1.07%Bajaj Auto 1.05%Telecom - Services 4.51%Bharti Airtel 4.51%Pharmaceuticals 3.94%IPCA Laboratories 1.72%Divi's Laboratories 1.20%Dr. Reddy's Laboratories 1.01%Construction Project 3.34%Larsen & Toubro 3.34%Consumer Durables 3.14%Titan Company 2.04%Voltas 1.10%Chemicals 2.20%Fine Organic Industries 2.20%Textile Products 1.12%SRF 1.12%Construction 1.11%PSP Projects 1.11%Industrial Products 1.06%Prince Pipes And Fittings 1.06%Net Cash and Cash Equivalent 2.30%Grand Total 100.00%

Size

Large Cap

Mid Cap

Small Cap




12

IDFC Nifty FundAn open ended scheme tracking Nifty 50 Index

31st January 2020

FUND FEATURES

INDUSTRY ALLOCATION

About the Fund: IDFC Nifty Fund is an index fund which is managed passively by investing in proportion to the Nifty 50.

Category: Index



Inception Date: 30 April 2010

Fund Manager: Mr. Arpit Kapoor & Mr. Sumit Agrawal (w.e.f. 1st March 2017)

Other Parameter:

Beta 0.99

R Square 1.00


Sharpe* 0.64

Portfolio Turnover

Equity 0.14

Aggregate^ 0.27

Tracking Error (Annualized) 0.30%

Expense Ratio

Regular 0.42%

Direct 0.24%

Benchmark: Nifty 50 TRI

SIP (Minimum Amount): ` 100/- SIP Frequency: Monthly


Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount: ` 5,000/- and any amount thereafter


Exit Load: NIL (w.e.f. 4th February 2019)


Banks 29.30%Software 13.04%Finance 11.72%Consumer Non Durables 10.48%Petroleum Products 10.44%Auto 5.60%Construction Project 3.38%Telecom - Services 2.22%Pharmaceuticals 2.15%Power 1.89%Cement 1.61%

Performance Table


1 Year 3 Years 5 YearsSince InceptionApr 30, 2010

1 Year 3 Years 5 YearsSince InceptionApr 30, 2010

IDFC Nifty Fund 11.24% 12.81% 7.19% 9.76% 11,124 14,357 14,159 24,819

Nifty 50 TRI# 11.84% 13.29% 7.67% 10.11% 11,184 14,540 14,476 25,595

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns.

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Nifty - Regular Plan - GrowthT

1 Year 3 Years 5 Years 7 YearsSince

InceptionApr 30, 2010

Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 8,40,000 11,80,000

Total Value as on January 31, 2020 (`) 1,25,145 4,11,556 7,73,004 12,32,897 20,45,713

Fund Returns (%) 8.01 8.88 10.07 10.77 10.79

Total Value of Nifty 50 TRI# 1,25,466 4,14,240 7,82,189 12,54,471 20,89,066

Nifty 50 TRI (%)# 8.52 9.32 10.54 11.26 11.19


Riskometer



To create wealth over long term.• Investment in equity and equity related • instruments forming part of Nifty 50 index.


Ferrous Metals 1.17%

Non - Ferrous Metals 1.05%

Consumer Durables 0.99%

Oil 0.74%

Minerals/Mining 0.69%

Pesticides 0.58%

Transportation 0.57%

Gas 0.45%Telecom - Equipment & Accessories 0.42%

Media & Entertainment 0.40%

NAV (`)


PORTFOLIO

Name Rating % of NAV

Equity and Equity related Instruments 99.60%Banks 29.30%HDFC Bank 10.60%ICICI Bank 6.79%Kotak Mahindra Bank 4.52%Axis Bank 3.25%State Bank of India 2.44%IndusInd Bank 1.52%Yes Bank 0.17%Software 13.04%Infosys 5.69%Tata Consultancy Services 4.37%HCL Technologies 1.28%Tech Mahindra 0.99%Wipro 0.70%Finance 11.72%HDFC 8.33%Bajaj Finance 2.26%Bajaj Finserv 1.14%Consumer Non Durables 10.48%ITC 4.10%Hindustan Unilever 2.91%Asian Paints 1.62%Nestle India 1.10%Britannia Industries 0.75%Petroleum Products 10.44%Reliance Industries 9.13%Bharat Petroleum Corporation 0.73%Indian Oil Corporation 0.58%Auto 5.60%Maruti Suzuki India 1.84%Mahindra & Mahindra 1.09%Bajaj Auto 0.83%Hero MotoCorp 0.65%Tata Motors 0.63%Eicher Motors 0.57%Construction Project 3.38%Larsen & Toubro 3.38%Telecom - Services 2.22%Bharti Airtel 2.22%


Pharmaceuticals 2.15%Sun Pharmaceutical Industries 0.94%Dr. Reddy's Laboratories 0.76%Cipla 0.45%Power 1.89%NTPC 1.01%Power Grid Corporation of India 0.88%Cement 1.61%UltraTech Cement 0.99%Grasim Industries 0.62%Ferrous Metals 1.17%Tata Steel 0.66%JSW Steel 0.51%Non - Ferrous Metals 1.05%Hindalco Industries 0.55%Vedanta 0.50%Consumer Durables 0.99%Titan Company 0.99%Oil 0.74%Oil & Natural Gas Corporation 0.74%Index 0.71%Nifty 50 Index - Equity Futures 0.71%Minerals/Mining 0.69%Coal India 0.69%Pesticides 0.58%UPL 0.58%Transportation 0.57%Adani Ports and Special Economic Zone 0.57%Gas 0.45%GAIL (India) 0.45%Telecom - Equipment & Accessories 0.42%Bharti Infratel 0.42%Media & Entertainment 0.40%Zee Entertainment Enterprises 0.40%Corporate Bond 0.01%NTPC AAA 0.01%Net Cash and Cash Equivalent 0.39%Grand Total 100.00%

Size

Large Cap

Mid Cap

Small Cap


13

IDFC Infrastructure FundAn open ended equity scheme investing in Infrastructure sector

31st January 2020

FUND FEATURES

About the Fund: A dedicated Infrastructure fund, that invests across the infrastructure value chain with exclusions like Banking, Autos, IT, Pharma and FMCG. It is a diversified portfolio of companies that are participating in and benefitting from the Indian Infrastructure and Infrastructure related activities.

Category: Sectoral




Fund Manager: Mr. Rajendra Kumar Mishra (w.e.f. 27th June 2013)

Other Parameter:

Beta 1.01

R Square 0.89


Sharpe* -0.13

Portfolio Turnover


Expense Ratio

Regular 2.36%

Direct 1.27%

Benchmark: S&P BSE India Infrastructure TRI (with effect from November 11, 2019)






Exit Load: 1.00% if redeemed before 365 days from the date of allotment.


Performance Table Regular Plan - GrowthScheme Name CAGR Returns (%) Current Value of Investment of ` 10,000

1 Year 3 Years 5 YearsSince Inception

Mar 08, 20111 Year 3 Years 5 Years

Since InceptionMar 08, 2011

IDFC Infrastructure Fund 6.87% 2.38% 4.28% 4.24% 10,687 10,731 12,336 14,470

S&P BSE India Infrastructure TRI# -2.39% -2.05% 0.74% 5.92% 9,761 9,397 10,377 16,696

Nifty 50 TRI## 11.84% 13.29% 7.67% 10.44% 11,184 14,540 14,476 24,223


Riskometer

Investors understand that their principal will be at High risk


To create wealth over long term.• Investment predominantly in equity and equity • related instruments of companies that are participating in and benefiting from growth in Indian infrastructure and infrastructural related activities.


NAV (`)


Size

Large Cap

Mid Cap

Small Cap


PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 98.90%Construction Project 19.85%Larsen & Toubro 8.06%Engineers India 3.19%NCC 2.40%H.G. Infra Engineering 2.25%Sadbhav Engineering 2.03%Dilip Buildcon 1.92%Transportation 15.28%Container Corporation of India 5.52%Adani Ports and Special Economic Zone 4.97%Transport Corporation of India 2.74%Gateway Distriparks 1.43%Navkar Corporation 0.61%Construction 11.68%PNC Infratech 4.88%NBCC (India) 1.49%Ahluwalia Contracts (India) 1.18%J.Kumar Infraprojects 1.14%PSP Projects 1.09%ITD Cementation India 0.85%Gayatri Projects 0.62%GPT Infraprojects 0.43%Cement 10.75%UltraTech Cement 5.81%JK Cement 3.53%Sagar Cements 1.42%Gas 10.59%Gujarat Gas 4.86%Gujarat State Petronet 4.28%GAIL (India) 1.45%

Name % of NAV

Telecom - Services 6.55%Bharti Airtel 6.55%Industrial Products 4.97%Cummins India 2.61%Kirloskar Brothers 1.67%Carborundum Universal 0.69%Industrial Capital Goods 4.51%Thermax 1.96%Bharat Electronics 1.55%ISGEC Heavy Engineering 1.00%Ferrous Metals 4.09%Jindal Steel & Power 1.61%Maharashtra Seamless 1.44%Jindal Saw 1.05%Power 4.04%Torrent Power 3.50%PTC India 0.54%Consumer Durables 2.19%Blue Star 2.19%Telecom - Equipment & Accessories 1.75%Tejas Networks 0.95%Bharti Infratel 0.80%Hotels, Resorts And Other Recreational Activities 1.06%

Taj GVK Hotels & Resorts 1.06%Petroleum Products 1.00%Reliance Industries 1.00%Non - Ferrous Metals 0.58%Vedanta 0.58%Net Cash and Cash Equivalent 1.10%Grand Total 100.00%

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Infrastructure Fund - Regular Plan - Growth

1 Year 3 Years 5 Years 7 YearsSince


Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 8,40,000 10,70,000

Total Value as on January 31, 2020 (`) 1,21,504 3,34,089 6,36,115 10,47,649 14,14,672

Fund Returns (%) 2.32 -4.79 2.30 6.21 6.12

Total Values of S&P BSE India Infrastructure TRI# 1,13,443 3,16,931 5,85,729 9,30,307 13,30,446

S&P BSE India Infrastructure TRI (%)# -9.94 -8.09 -0.95 2.88 4.79

Total Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 18,23,069

Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.58




14

IDFC Tax Advantage (ELSS) FundAn open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit

31st January 2020

FUND FEATURES

About the Fund: The Fund is an Equity Linked Savings Scheme (ELSS) that aims to generate long term capital growth from a diversified equity portfolio and enables investors to avail of a deduction from total income, as permitted under the Income Tax Act, 1961.

Category: ELSS



Inception Date: 26 December 2008

Fund Manager: Mr. Daylynn Pinto (w.e.f. 20th October 2016)

Other Parameter:

Beta 1.02 R Square 0.83 Standard Deviation (Annualized) 14.03% Sharpe* 0.38

Portfolio Turnover


Expense Ratio

Regular 2.12%

Direct 1.17%

Benchmark: S&P BSE 200 TRI

SIP (Minimum Amount): ` 500/-

SIP Frequency : Monthly


Investment Objective: Refer Pg No from 49 to 50

Minimum Investment Amount: ` 500/- and in multiples of ` 500/- thereafter.

Option Available: Growth, Dividend - Payout and Sweep (from Equity Schemes to Debt Schemes Only)

Exit Load: Nil


Performance Table


1 Year 3 Years 5 YearsSince InceptionDec 26, 2008


IDFC Tax Advantage (ELSS) Fund

7.83% 10.43% 7.56% 16.79% 10,783 13,465 14,402 56,040

S&P BSE 200 TRI# 11.15% 12.25% 8.09% 16.11% 11,115 14,143 14,762 52,538

Nifty 50 TRI## 11.84% 13.29% 7.67% 15.14% 11,184 14,540 14,476 47,827

Performance based on NAV as on 31/01/2020, Past performance may or may not be sustained in future. The performances given are of regular plan growth option. Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc. For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages *Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns.

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Tax Advantage (ELSS) Fund - Regular Plan - Growth


InceptionDec 26, 2008



Fund Returns (%) 6.63 2.94 7.25 11.14 12.53 13.29


S&P BSE 200 TRI (%)# 9.38 7.88 9.98 11.54 11.54 12.13

Total Value of NIFTY 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 21,43,556 26,46,664

NIFTY 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.62


NAV (`)


Size

Large Cap

Mid Cap

Small Cap


Riskometer



To create wealth over long term.• Investment predominantly in Equity and Equity • related securities with income tax benefit u/s 80C and 3 years lock-in.


PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 95.68%Banks 21.53%ICICI Bank 7.72%State Bank of India 3.94%HDFC Bank 3.83%Axis Bank 3.35%RBL Bank 2.70%Software 8.82%Infosys 4.00%Mastek 1.19%Birlasoft 1.14%KPIT Technologies 1.06%Tech Mahindra 0.82%Cyient 0.61%Finance 7.03%HDFC 1.77%Mas Financial Services 1.76%ICICI Securities 1.50%ICICI Lombard General Insurance Company 1.21%Magma Fincorp 0.55%BSE 0.23%Consumer Durables 6.67%Voltas 1.48%Greenply Industries 1.30%Crompton Greaves Consumer Electricals 1.17%Titan Company 0.98%Greenlam Industries 0.66%Khadim India 0.50%Greenpanel Industries 0.47%Praxis Home Retail 0.11%Construction Project 5.75%KEC International 2.56%Larsen & Toubro 2.01%NCC 1.18%Petroleum Products 5.74%Reliance Industries 3.89%Hindustan Petroleum Corporation 1.28%Chennai Petroleum Corporation 0.57%Cement 4.97%The Ramco Cements 1.43%ACC 1.24%Ambuja Cements 1.20%UltraTech Cement 0.71%Sagar Cements 0.39%Pharmaceuticals 4.32%IPCA Laboratories 1.56%Dr. Reddy's Laboratories 1.43%Aurobindo Pharma 0.99%Dishman Carbogen Amcis 0.34%Retailing 3.81%Future Retail 2.08%

Name % of NAV

Future Lifestyle Fashions 1.10%Future Consumer 0.54%Avenue Supermarts 0.10%Ferrous Metals 3.63%Jindal Steel & Power 2.28%JSW Steel 0.69%Kirloskar Ferrous Industries 0.64%Tata Steel 0.01%Chemicals 3.45%Deepak Nitrite 2.08%Tata Chemicals 1.38%Auto Ancillaries 3.37%MRF 1.60%Sandhar Technologies 1.02%Minda Industries 0.76%Consumer Non Durables 2.57%Nestle India 1.76%Procter & Gamble Hygiene and Health Care 0.76%HBL Power Systems 0.05%Industrial Products 2.45%AIA Engineering 0.90%Apollo Pipes 0.74%Graphite India 0.68%Bharat Forge 0.14%Construction 2.39%PSP Projects 1.48%Asian Granito India 0.91%Power 1.74%Kalpataru Power Transmission 1.29%Nava Bharat Ventures 0.45%Hotels, Resorts And Other Recreational Activities 1.69%The Indian Hotels Company 1.04%EIH 0.64%Transportation 1.48%VRL Logistics 1.48%Auto 1.31%Bajaj Auto 1.31%Telecom - Services 1.21%Bharti Airtel 1.21%Gas 0.94%GAIL (India) 0.94%Industrial Capital Goods 0.80%Texmaco Rail & Engineering 0.66%CG Power and Industrial Solutions 0.14%Preference Shares 0.01%Media & Entertainment 0.01%Zee Entertainment Enterprises 0.01%Net Cash and Cash Equivalent 4.32%Grand Total 100.00%



15

Banks 32.64%

Software 14.29%

Finance 11.99%

Consumer Non Durables 11.03%

Petroleum Products 10.29%

Auto 4.98%

Construction Project 3.84%

Telecom - Services 2.17%

Power 2.12%


Cement 1.13%

Pharmaceuticals 1.08%

Oil 0.79%


IDFC Sensex ETFAn open ended scheme tracking S&P BSE Sensex Index

31st January 2020

FUND FEATURES

INDUSTRY ALLOCATION

About the Fund: An open-ended Exchange

Traded Fund that seeks to provide returns that,

before expenses, closely correspond to the total

return of the S&P BSE Sensex, subject to tracking

errors.

Category: Exchange Traded Fund



Inception Date: 07 October 2016

Fund Manager: Mr. Yogik Pitti

Other Parameter:


Portfolio TurnoverEquity 0.08 Aggregate^ 0.08


Expense Ratio: 0.47%

Benchmark: S&P BSE Sensex TRI

SIP (Minimum Amount): NA

SIP Frequency: NA

SIP Dates (Monthly): NA


Minimum Investment Amount: Directly with Fund

- Authorised Participants and Large Investors can

directly purchase / redeem in blocks from the

fund in “Creation unit size” on any business day.

On the Exchange - The units of the Scheme can

be purchased and sold in minimum lot of 1 unit

and in multiples thereof

Option Available: Presently the scheme does not

offer any Plan/Options for Investment

Exit Load: Nil

Performance Table



Oct 07, 20161 Year 3 Years 5 Years

Since InceptionOct 07, 2016

IDFC Sensex ETF 13.30% 14.96% NA 12.96% 11,330 15,194 NA 14,981

S&P BSE Sensex TRI 13.59% 15.16% NA 13.17% 11,359 15,272 NA 15,077

Nifty 50 TRI## 11.84% 13.29% NA 11.46% 11,184 14,540 NA 14,333

The scheme has been in existence for more than 3 year but less than 5 years.Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages *Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns.

NAV (`)

Growth 420.3765

Dividend NA

PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 98.23%Banks 32.64%HDFC Bank 11.96%ICICI Bank 7.76%Kotak Mahindra Bank 4.59%Axis Bank 3.83%

State Bank of India 2.75%

IndusInd Bank 1.74%

Software 14.29%Infosys 6.68%Tata Consultancy Services 5.01%

HCL Technologies 1.47%

Tech Mahindra 1.12%

Finance 11.99%HDFC 9.53%

Bajaj Finance 2.46%

Consumer Non Durables 11.03%ITC 4.62%

Hindustan Unilever 3.34%

Asian Paints 1.86%

Nestle India 1.21%

Petroleum Products 10.29%Reliance Industries 10.29%

Auto 4.98%Maruti Suzuki India 2.05%

Name % of NAV

Mahindra & Mahindra 1.24%

Bajaj Auto 0.94%

Hero MotoCorp 0.74%

Construction Project 3.84%Larsen & Toubro 3.84%

Telecom - Services 2.17%

Bharti Airtel 2.17%

Power 2.12%

NTPC 1.10%

Power Grid Corporation of India 1.01%


Titan Company 1.14%

Cement 1.13%

UltraTech Cement 1.13%

Pharmaceuticals 1.08%

Sun Pharmaceutical Industries 1.08%

Oil 0.79%

Oil & Natural Gas Corporation 0.79%


Tata Steel 0.76%

Net Cash and Cash Equivalent 1.77%

Grand Total 100.00%

Riskometer




Investing in equity and equity related instruments • forming part of S&P BSE Sensex Index.



16

IDFC Nifty ETFAn open ended scheme tracking NIFTY 50 Index

31st January 2020

FUND FEATURES

INDUSTRY ALLOCATION

About the Fund: An open-ended Exchange

Traded Fund that seeks to provide returns that,

before expenses, closely correspond to the total

return of the Nifty 50, subject to tracking errors.

Category: Exchange Traded Fund



Inception Date: 07 October 2016

Fund Manager: Mr. Yogik Pitti

Other Parameter:


Portfolio Turnover



Expense Ratio: 0.21%

Benchmark: Nifty 50 TRI

SIP (Minimum Amount): NA

SIP Frequency: NA

SIP Dates (Monthly): NA


Minimum Investment Amount: Directly with Fund

- Authorised Participants and Large Investors can

directly purchase / redeem in blocks from the

fund in “Creation unit size” on any business day.

On the Exchange - The units of the Scheme can

be purchased and sold in minimum lot of 1 unit

and in multiples thereof

Option Available: Presently the scheme does not

offer any Plan/Options for Investment.

Exit Load: Nil

Performance Table





IDFC Nifty ETF 11.54% 13.03% NA 11.20% 11,154 14,442 NA 14,224

Nifty 50 TRI# 11.84% 13.29% NA 11.46% 11,184 14,540 NA 14,333

The scheme has been in existence for more than 3 year but less than 5 years.Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages *Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns.

NAV (`)

Growth 123.7109Dividend NA

PORTFOLIO

Name % of NAV

Equity and Equity related Instruments 98.12%Banks 29.18%HDFC Bank 10.56%ICICI Bank 6.77%Kotak Mahindra Bank 4.50%Axis Bank 3.24%State Bank of India 2.43%IndusInd Bank 1.51%Yes Bank 0.17%Software 12.95%Infosys 5.66%Tata Consultancy Services 4.34%HCL Technologies 1.28%Tech Mahindra 0.98%Wipro 0.70%Finance 11.60%HDFC 8.29%Bajaj Finance 2.24%Bajaj Finserv 1.07%Petroleum Products 10.39%Reliance Industries 9.09%Bharat Petroleum Corporation 0.73%Indian Oil Corporation 0.57%Consumer Non Durables 10.37%ITC 4.08%Hindustan Unilever 2.88%Asian Paints 1.61%Nestle India 1.07%Britannia Industries 0.72%Auto 5.48%Maruti Suzuki India 1.80%Mahindra & Mahindra 1.08%Bajaj Auto 0.80%Hero MotoCorp 0.63%Tata Motors 0.63%Eicher Motors 0.53%Construction Project 3.36%Larsen & Toubro 3.36%

Name % of NAV

Telecom - Services 2.21%Bharti Airtel 2.21%Pharmaceuticals 2.12%Sun Pharmaceutical Industries 0.93%Dr. Reddy's Laboratories 0.73%Cipla 0.45%Power 1.88%NTPC 1.00%Power Grid Corporation of India 0.88%Cement 1.57%UltraTech Cement 0.96%Grasim Industries 0.61%Ferrous Metals 1.16%Tata Steel 0.66%JSW Steel 0.51%Non - Ferrous Metals 1.05%Hindalco Industries 0.55%Vedanta 0.50%Consumer Durables 0.98%Titan Company 0.98%Oil 0.74%Oil & Natural Gas Corporation 0.74%Minerals/Mining 0.69%Coal India 0.69%Pesticides 0.57%UPL 0.57%Transportation 0.57%Adani Ports and Special Economic Zone 0.57%Gas 0.44%GAIL (India) 0.44%Telecom - Equipment & Accessories 0.42%Bharti Infratel 0.42%Media & Entertainment 0.40%Zee Entertainment Enterprises 0.40%Net Cash and Cash Equivalent 1.88%Grand Total 100.00%

Riskometer




Investing in equity and equity related instruments • forming part of Nifty 50 index.


Banks 29.18%Software 12.95%Finance 11.60%Petroleum Products 10.39%Consumer Non Durables 10.37%Auto 5.48%Construction Project 3.36%Telecom - Services 2.21%Pharmaceuticals 2.12%Power 1.88%Cement 1.57%Ferrous Metals 1.16%Non - Ferrous Metals 1.05%Consumer Durables 0.98%Oil 0.74%Minerals/Mining 0.69%Pesticides 0.57%Transportation 0.57%Gas 0.44%Telecom - Equipment & Accessories 0.42%Media & Entertainment 0.40%


17

IDFC Arbitrage FundAn open ended scheme investing in arbitrage opportunities

31st January 2020

FUND FEATURES

About the Fund: The fund invests in arbitrage opportunities in the cash and the derivative segments of the equity markets. It aims to capture the spread (Cost of Carry) between the cash and futures market by simultaneously executing buy (in the cash market) and sell (in the futures market) trades. The balance is invested in debt and money market instruments. The fund typically follows a strategy of taking market neutral (equally offsetting) positions in the equity market making it a low risk product irrespective of the movements in equity market.

Category: Arbitrage




Fund Manager: Equity Portion: Mr. Yogik Pitti (w.e.f. 27th June 2013), Mr. Arpit Kapoor (w.e.f. 1st March 2017) & Debt Portion: Mr. Harshal Joshi (w.e.f. 20th October 2016)

Other Parameter:


Portfolio Turnover

Equity 2.51

Aggregate^ 15.54

Expense Ratio

Regular 1.07%

Direct 0.27%

Benchmark: Nifty 50 Arbitrage Index (w.e.f. April 01, 2018)



SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment. Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount: ` 100/- and any amount thereafter

Option Available: Growth, Dividend - (Payout,Reinvestment and Sweep (from Equity Schemes to Debt Schemes only)) - Monthly & Annual

Exit Load: 0.25% if redeemed / switched-out within 1 month from the date of allotment (w.e.f 01st July 2016)

Performance Table




IDFC Arbitrage Fund 6.17% 6.06% 6.29% 7.06% 10,617 11,931 13,568 24,480

Nifty 50 Arbitrage Index# 6.62% 5.27% 5.92% NA 10,662 11,666 13,339 NA

Nifty 50 TRI## 11.84% 13.29% 7.67% 10.39% 11,184 14,540 14,476 36,579


SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Arbitrage Fund - Regular Plan - Growth



Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 15,80,000 Total Value as on January 31, 2020 (`) 1,23,725 3,94,889 7,00,049 10,55,542 17,14,257 25,44,668 Fund Returns (%) 5.78 6.10 6.10 6.42 6.93 6.93Total Value of Nifty 50 Arbitrage Index# 1,23,907 3,92,698 6,91,126 10,39,724 NA NANifty 50 Arbitrage Index Returns (%)# 6.07 5.72 5.59 6.00 NA NATotal Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 21,43,556 34,03,942 Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 10.98Past performance may or may not be sustained in future.Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration. To illustrate the advantages of SIP investment, this is how your investment would have grown if you had invested say `10,000 systematically on the first business Day of every month over a period of time. Returns are calculated by using XIRR approach. XIRR helps in calculating return on investment given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Data as on 31st January 2020

INDUSTRY ALLOCATIONNAV (`)

Regular Plan Growth 24.4800Regular Plan Monthly Dividend 12.7603Regular Plan Annual Dividend 10.9770

Riskometer

Investors understand that their principal will be at Moderately Low risk


To generate low volatility returns over short to • medium term.Investments predominantly in arbitrage opportunities in • the cash and derivative segments of the equity markets with balance exposure in debt and money market instruments.


PORTFOLIO

Name Industries % of NAV

Bharti Airtel Telecom - Services 3.96%Larsen & Toubro Construction Project 3.58%State Bank of India Banks 2.66%Axis Bank Banks 2.49%ITC Consumer Non Durables 2.47%Bajaj Finance Finance 2.39%HDFC Bank Banks 2.37%HDFC Finance 2.32%IndusInd Bank Banks 2.32%Reliance Industries Petroleum Products 2.31%ICICI Bank Banks 2.04%Maruti Suzuki India Auto 1.92%Asian Paints Consumer Non Durables 1.83%Grasim Industries Cement 1.74%Sun Pharmaceutical Industries Pharmaceuticals 1.58%Tata Consultancy Services Software 1.49%Bajaj Finserv Finance 1.38%Adani Ports and Special Economic Zone Transportation 1.25%Vedanta Non - Ferrous Metals 1.09%Dabur India Consumer Non Durables 1.02%ACC Cement 0.82%Tech Mahindra Software 0.81%UPL Pesticides 0.78%Bharat Petroleum Corporation Petroleum Products 0.77%Infosys Software 0.76%Titan Company Consumer Durables 0.71%Hindalco Industries Non - Ferrous Metals 0.67%Max Financial Services Finance 0.67%Petronet LNG Gas 0.64%Marico Consumer Non Durables 0.64%Colgate Palmolive (India) Consumer Non Durables 0.60%Dr. Reddy's Laboratories Pharmaceuticals 0.60%United Breweries Consumer Non Durables 0.55%Container Corporation of India Transportation 0.53%JSW Steel Ferrous Metals 0.51%M&M Financial Services Finance 0.51%Bajaj Auto Auto 0.50%The Federal Bank Banks 0.49%Muthoot Finance Finance 0.48%Havells India Consumer Durables 0.46%Nestle India Consumer Non Durables 0.45%Punjab National Bank Banks 0.44%Mahindra & Mahindra Auto 0.43%Manappuram Finance Finance 0.43%Adani Enterprises Trading 0.39%Apollo Hospitals Enterprise Healthcare Services 0.38%Bank of Baroda Banks 0.38%Tata Power Company Power 0.37%UltraTech Cement Cement 0.35%Tata Chemicals Chemicals 0.33%Tata Global Beverages Consumer Non Durables 0.32%Tata Steel Ferrous Metals 0.32%Piramal Enterprises Pharmaceuticals 0.30%United Spirits Consumer Non Durables 0.30%Voltas Consumer Durables 0.28%Bata India Consumer Durables 0.28%Adani Power Power 0.27%Exide Industries Auto Ancillaries 0.26%Kotak Mahindra Bank Banks 0.25%InterGlobe Aviation Transportation 0.25%Jindal Steel & Power Ferrous Metals 0.25%Equitas Holdings Finance 0.25%

Name Industries % of NAV

Lupin Pharmaceuticals 0.23%Shree Cement Cement 0.23%Aurobindo Pharma Pharmaceuticals 0.22%Canara Bank Banks 0.21%DLF Construction 0.20%Britannia Industries Consumer Non Durables 0.17%NCC Construction Project 0.17%Amara Raja Batteries Auto Ancillaries 0.16%ICICI Prudential Life Insurance Company Finance 0.16%HCL Technologies Software 0.16%Century Textiles & Industries Paper 0.15%Ujjivan Financial Services Finance 0.15%Cholamandalam Invt and Fin Co Finance 0.15%Shriram Transport Finance Company Finance 0.14%Godrej Consumer Products Consumer Non Durables 0.14%Tata Motors Auto 0.13%Steel Authority of India Ferrous Metals 0.13%Sun TV Network Media & Entertainment 0.13%Cipla Pharmaceuticals 0.12%Ambuja Cements Cement 0.11%The Ramco Cements Cement 0.11%GMR Infrastructure Construction Project 0.10%PVR Media & Entertainment 0.09%Cummins India Industrial Products 0.09%Escorts Auto 0.09%Mahanagar Gas Gas 0.08%Ashok Leyland Auto 0.08%Siemens Industrial Capital Goods 0.08%Torrent Power Power 0.08%LIC Housing Finance Finance 0.07%Cadila Healthcare Pharmaceuticals 0.06%Glenmark Pharmaceuticals Pharmaceuticals 0.06%Hindustan Unilever Consumer Non Durables 0.06%REC Finance 0.05%SRF Textile Products 0.05%Motherson Sumi Systems Auto Ancillaries 0.04%Pidilite Industries Chemicals 0.04%Divi's Laboratories Pharmaceuticals 0.04%Bharat Electronics Industrial Capital Goods 0.03%MRF Auto Ancillaries 0.03%Wipro Software 0.02%Zee Entertainment Enterprises Media & Entertainment 0.02%Bharat Heavy Electricals Industrial Capital Goods 0.02%GAIL (India) Gas 0.02%Apollo Tyres Auto Ancillaries 0.02%Torrent Pharmaceuticals Pharmaceuticals 0.01%Bosch Auto Ancillaries 0.01%Hindustan Petroleum Corporation Petroleum Products 0.003%CESC Power 0.001%Eicher Motors Auto 0.001%Total Hedged Equity 66.68%Margin Fixed Deposit 18.95%Corporate Bond 5.95%Commercial Paper 1.57%Certificate of Deposit 1.31%PTC^ 0.42%Zero Coupon Bond 0.16%Net Cash and Cash Equivalent 4.96%Grand Total 100.00%

Banks 13.65%Finance 9.14%Consumer Non Durables 8.54%Telecom - Services 3.96%Construction Project 3.86%Cement 3.35%Software 3.25%Pharmaceuticals 3.23%Auto 3.14%Petroleum Products 3.08%Transportation 2.04%Non - Ferrous Metals 1.76%Consumer Durables 1.73%Ferrous Metals 1.21%

Pesticides 0.78%Gas 0.75%Power 0.72%Auto Ancillaries 0.50%Trading 0.39%Healthcare Services 0.38%Chemicals 0.37%Media & Entertainment 0.24%Construction 0.20%Paper 0.15%Industrial Capital Goods 0.12%Industrial Products 0.09%Textile Products 0.05%

^PTC originated by Reliance Industries Limited

18

IDFC Equity Savings Fund(previously known as IDFC Arbitrage Plus Fund$$)An open ended scheme investing in equity, arbitrage and debt31st January 2020

FUND FEATURES

INDUSTRY ALLOCATION

About the Fund: IDFC Equity Savings Fund is a hybrid scheme investing in equity, arbitrage and debt with net equity exposure ranging from 20-45% and debt exposure ranging from 20-35%, remaining being in arbitrage.

Category: Equity Savings




Fund Manager: Equity Portion: Mr. Yogik Pitti (w.e.f. 27th June 2013), Mr. Rajendra Mishra (w.e.f. 30th April 2018) & Debt Portion: Mr. Harshal Joshi (w.e.f. 20th October 2016)

Other Parameter:

Beta 0.45 R Square 0.65 Standard Deviation (Annualized) 3.69% Sharpe* -0.09Modified Duration 373 days Average Maturity 435 days Yield to Maturity 6.45%

Portfolio Turnover


Expense Ratio

Regular 2.22%

Direct 1.20%

Benchmark: 30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index (w.e.f. Monday, April 30, 2018)





Option Available: Growth, Dividend - (Payout, Reinvestment and Sweep (from Equity Schemes to Debt Schemes only)) - Monthly & Annual

Exit Load: In respect of each purchase of Units: - For 10% of investment : Nil - For remaining investment: 1% if redeemed/switched out within 1 (one) year from the date of allotment

Pharmaceuticals 13.48%Finance 10.57%Banks 10.31%Software 5.69%Gas 3.31%Construction 3.16%Auto Ancillaries 2.55%Petroleum Products 2.52%Telecom - Services 2.25%Auto 1.88%Construction Project 1.70%Fertilisers 1.62%

Performance Table




IDFC Equity Savings Fund$ 7.20% 4.72% 5.47% 6.51% 10,720 11,483 13,056 20,850

30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index

8.28% 6.65% 7.09% 7.40% 10,828 12,130 14,089 22,971

Nifty 50 TRI## 11.84% 13.29% 7.67% 10.07% 11,184 14,540 14,476 30,596

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). #Benchmark Returns. ##Alternate Benchmark Returns. $The fund has been repositioned from an arbitrage fund to an equity savings fund w.e.f. April 30, 2018.Current Index performance adjusted for the period from since inception to April 30, 2018 with the performance of CRISIL Liquid Fund Index (Benchmark)$$ For details please refer Notice (https://www.idfcmf.com/uploads/270320181148IDFC-Arbitrage-Plus-Fund-Notice.pdf)

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Equity Savings Fund - Regular Plan - Growth


InceptionJun 09, 2008



Fund Returns (%) 7.44 5.07 5.18 5.61 6.20 6.27

Total Value of 30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index# 1,22,823 3,96,260 7,10,227 10,81,247 17,63,895 21,97,373

30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index Returns (%)# 4.37 6.33 6.68 7.10 7.48 7.44


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.62


Consumer Durables 1.47%Non - Ferrous Metals 1.43%Power 1.17%Chemicals 1.14%Cement 1.00%Consumer Non Durables 0.90%Media & Entertainment 0.81%Transportation 0.81%Industrial Capital Goods 0.57%Telecom - Equipment & Accessories 0.56%Ferrous Metals 0.44%Industrial Products 0.43%Pesticides 0.22%

NAV (`)

Regular Plan Growth 20.85Regular Plan Monthly Dividend 12.70Regular Plan Annual Dividend 10.82Regular Plan Quarterly 10.45

PORTFOLIO

Name Industries% of NAV

HDFC Finance 6.21%

Sun Pharmaceutical Industries Pharmaceuticals 5.12%

Tech Mahindra Software 3.90%

Aurobindo Pharma Pharmaceuticals 3.06%

State Bank of India Banks 2.79%

HDFC Bank Banks 2.78%

Gujarat State Petronet Gas 2.67%

Axis Bank Banks 2.48%

Reliance Industries Petroleum Products 2.37%

ICICI Bank Banks 2.26%

Bharti Airtel Telecom - Services 2.25%

Dr. Reddy's Laboratories Pharmaceuticals 2.19%

Maruti Suzuki India Auto 1.88%

Tata Consultancy Services Software 1.79%

Coromandel International Fertilisers 1.62%

Cadila Healthcare Pharmaceuticals 1.52%

Voltas Consumer Durables 1.47%

DLF Construction 1.43%

Vedanta Non - Ferrous Metals 1.43%

Exide Industries Auto Ancillaries 1.28%

MRF Auto Ancillaries 1.26%

M&M Financial Services Finance 1.18%

Torrent Power Power 1.17%

Larsen & Toubro Construction Project 1.16%

Tata Chemicals Chemicals 1.14%

Sundaram Finance Finance 1.12%

Bajaj Finserv Finance 1.07%

Name Industries% of NAV

UltraTech Cement Cement 1.00%ICICI Prudential Life Insurance Company Finance 0.99%

Godrej Consumer Products Consumer Non Durables 0.90%

Zee Entertainment Enterprises Media & Entertainment 0.81%

PNC Infratech Construction 0.78%

GAIL (India) Gas 0.64%

Alkem Laboratories Pharmaceuticals 0.58%

Thermax Industrial Capital Goods 0.57%

Bharti Infratel Telecom - Equipment & Accessories 0.56%

Natco Pharma Pharmaceuticals 0.55%

KEC International Construction Project 0.54%

NBCC (India) Construction 0.51%

Container Corporation of India Transportation 0.47%

Laurus Labs Pharmaceuticals 0.46%

Jindal Steel & Power Ferrous Metals 0.44%

J.Kumar Infraprojects Construction 0.44%

Cummins India Industrial Products 0.43%Adani Ports and Special Economic Zone Transportation 0.34%

UPL Pesticides 0.22%

Hindustan Petroleum Corporation Petroleum Products 0.15%

Total Hedged Equity 69.97%

Corporate Bond 15.19%

Margin Fixed Deposit 9.00%


Grand Total 100.00%


To generate long term capital growth and income.• Investment predominantly in Equity and Equity • related securities (including arbitrage and other derivative strategies) as well as Fixed Income securities.


Riskometer


19

IDFC Dynamic Equity Fund An open ended dynamic asset allocation fund

31st January 2020

FUND FEATURES PORTFOLIO

Performance Table





IDFC Dynamic Equity Fund 11.14% 8.83% 5.65% 6.92% 11,114 12,890 13,167 14,27050% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index# 9.17% 9.61% 7.77% 9.12% 10,917 13,168 14,541 15,902

Nifty 50 TRI## 11.84% 13.29% 7.67% 9.56% 11,184 14,540 14,476 16,243Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data. ^Portfolio Turnover ratio is calculated as Lower of purchase or sale during the period / Average AUM for the last one year (includes Fixed Income securities and Equity derivatives). The portfolio will be rebalanced within the first three working days of the next month.#Benchmark Returns. ##Alternate Benchmark Returns.The fund has been repositioned from a Nifty linked fund to an open banded fund w.e.f. June 19, 2017.

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Dynamic Equity - Regular Plan - Growth 1 Year 3 Years 5 Years

SinceInception

Oct 10, 2014Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 6,40,000 Total Value as on January 31, 2020 (`) 1,27,873 4,03,724 7,22,396 7,77,673 Fund Returns (%) 12.34 7.58 7.36 7.23 Total Value of 50% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index# 1,24,159 4,00,567 7,44,208 8,05,532

50% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index Returns (%)# 6.46 7.05 8.54 8.55

Total Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 8,44,064 Nifty 50 TRI (%)## 8.52 9.32 10.54 10.30


Riskometer




Dynamic allocation towards equity, derivatives, • debt and money market instruments.



Name Rating % of NAVEquity and Equity related Instruments 68.08%Equity 53.27%Banks 13.55%HDFC Bank 6.29%HDFC Bank - Equity Futures -2.02%ICICI Bank 5.88%ICICI Bank - Equity Futures -1.68%Axis Bank 3.88%Axis Bank - Equity Futures -0.91%State Bank of India 3.37%State Bank of India - Equity Futures -2.31%Kotak Mahindra Bank 1.04%RBL Bank 0.44%RBL Bank - Equity Futures -0.44%Consumer Non Durables 6.27%ITC 1.88%ITC - Equity Futures -1.01%Nestle India 1.73%GlaxoSmithKline Consumer Healthcare 1.72%Asian Paints 1.66%Asian Paints - Equity Futures -0.56%Prataap Snacks 0.50%Jubilant Foodworks 0.35%Finance 6.24%Bajaj Finserv 1.74%Bajaj Finserv - Equity Futures -0.78%Muthoot Finance 1.37%Muthoot Finance - Equity Futures -0.35%ICICI Securities 0.97%Mas Financial Services 0.86%Bajaj Finance 0.81%SBI Life Insurance Company 0.77%ICICI Lombard General Insurance Company 0.61%Multi Commodity Exchange of India 0.26%Software 4.77%Infosys 2.33%Tata Consultancy Services 2.13%Tata Consultancy Services - Equity Futures -0.80%Tech Mahindra 1.71%Tech Mahindra - Equity Futures -0.59%Pharmaceuticals 4.39%Aurobindo Pharma 1.39%Aurobindo Pharma - Equity Futures -0.26%Alkem Laboratories 1.23%IPCA Laboratories 1.16%Divi's Laboratories 1.10%Divi's Laboratories - Equity Futures -0.30%Dishman Carbogen Amcis 0.06%Petroleum Products 3.33%Reliance Industries 3.90%Reliance Industries - Equity Futures -0.58%

Name Rating % of NAVConstruction Project 3.20%Larsen & Toubro 2.81%Larsen & Toubro - Equity Futures -0.29%KEC International 0.68%Cement 2.10%UltraTech Cement 1.36%JK Cement 0.43%Sagar Cements 0.32%Consumer Durables 1.98%Titan Company 1.22%Voltas 0.82%Voltas - Equity Futures -0.25%Khadim India 0.19%Industrial Products 1.88%Supreme Industries 0.86%AIA Engineering 0.77%Astral Poly Technik 0.25%Auto Ancillaries 1.45%Sandhar Technologies 0.95%Asahi India Glass 0.46%Minda Industries 0.04%Telecom - Services 0.94%Bharti Airtel 2.17%Bharti Airtel - Equity Futures -1.23%Pesticides 0.72%PI Industries 0.72%Hotels, Resorts And Other Recreational Activities 0.61%The Indian Hotels Company 0.61%Gas 0.58%Indraprastha Gas 1.04%Indraprastha Gas - Equity Futures -0.46%Retailing 0.55%Aditya Birla Fashion and Retail 0.55%Construction 0.55%PNC Infratech 0.55%Auto 0.17%TVS Motor Company 0.10%Maruti Suzuki India 0.07%Corporate Bond 22.59%Reliance Industries AAA 5.42%NABARD AAA 5.22%LIC Housing Finance AAA 2.63%Power Finance Corporation AAA 2.60%HDFC AAA 2.59%Indian Railway Finance Corporation AAA 2.55%REC AAA 1.54%NTPC AAA 0.03%Certificate of Deposit 3.07%Axis Bank A1+ 3.07%Net Cash and Cash Equivalent 21.08%Grand Total 100.00%

NAV (`)

PE Bands Equity Allocation<12 90 - 100 12 - 16 75 - 9016 - 19 65 - 7519 - 22 55 - 6522 - 26 40 - 55>26 30 - 40

The equity exposure of the scheme’s portfolio will be determined as follows:

The balance will be invested in debt and money market securities.


About the Fund:‘Dynamically’ invests between Equity and Debt • An Equity fund that buys less when markets are • expensive and more when markets are cheapBased on the model that tracks market valuation•

Category: Dynamic Asset Allocation or Balanced AdvantageMonthly Avg AUM: ` 979.36 Crores Month end AUM: ` 974.36 Crores Inception Date: 10 October 2014Fund Manager: Equity Portion: Mr. Arpit Kapoor & Mr. Sumit Agrawal (w.e.f. 01st March 2017), Debt Portion: Mr. Arvind Subramanian (w.e.f. 09th November 2015)Other Parameter:Standard Deviation (Annualized) 6.49% Beta 0.79 R Square 0.86 Sharpe* 0.58Modified Duration 2.24 years Average Maturity 3.57 years Yield to Maturity 6.63%Portfolio TurnoverEquity 0.26Aggregate^ 3.12Expense Ratio Regular 2.25%Direct 1.01%Benchmark: 50% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index (w.e.f. Nov. 11, 2019)SIP (Minimum Amount): ` 100/- (Minimum 6 instalments)SIP Frequency: Monthly SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.Investment Objective: Refer Pg No from 49 to 50Minimum Investment Amount : ` 5,000/- and any amount thereafterOption Available: Growth, Dividend (Payout, Reinvestment and Sweep (from Equity Schemes to Debt Schemes only))Exit Load: In respect of each purchase of Units:- For 10% of investment: Nil- For remaining investment: 1% if redeemed/ switched out within 1 year from the date of allotment (w.e.f. July 5, 2017)



20

IDFC Hybrid Equity Fund(previously known as IDFC Balanced Fund)An open ended hybrid scheme investing predominantly in equity and equity related instruments 31st January 2020

FUND FEATURES

INDUSTRY ALLOCATION

About the Fund: IDFC Hybrid Equity Fund provides a combination of equity (between 65% and 80%) and debt (between 20% and 35%) so as to provide both relative stability of returns and potential of growth. Both equity and fixed income portions are actively managed.

Category: Aggressive Hybrid




Fund Manager@: Equity Portion: Mr. Anoop Bhaskar Debt Portion: Mr. Anurag Mittal

Other Parameter:

Standard Deviation (Annualized) 9.33% Beta 0.93 R Square 0.87 Sharpe* 0.04

Modified Duration 2.81 years Average Maturity 3.54 years Yield to Maturity 6.62%

Expense Ratio Regular 2.36% Direct 0.96%

Benchmark: 65% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index

(with effect from November 11, 2019)



SIP Date (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.


Minimum Investment Amount: ` 5,000/- and any amount thereafter

Option Available: Growth & Dividend (Payout, Reinvestment & Sweep facility)

Exit Load: 10% of investment: Nil Remaining investment: 1% if redeemed/switched out within 1 year from the date of allotment

NAV (`)


Riskometer




Investment predominantly in equity and equity • related securities and balance exposure in debt and money market instruments.


PORTFOLIO

Banks 24.15%Consumer Non Durables 10.45%Software 7.69%Pharmaceuticals 5.73%Petroleum Products 5.25%Finance 4.31%Construction Project 3.39%Retailing 2.63%Hotels, Resorts And Other Recreational Activities 2.35%

Chemicals 1.98%Consumer Durables 1.75%Gas 1.70%Auto Ancillaries 1.68%Power 1.24%Industrial Capital Goods 1.05%Cement 0.68%Auto 0.60%Industrial Products 0.51%

Performance Table




IDFC Hybrid Equity Fund - Growth^ 7.85% 5.42% NA 5.56% 10,785 11,717 NA 11,82065% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index#

8.87% 10.15% NA 11.28% 10,887 13,366 NA 13,910

Nifty 50 TRI## 11.84% 13.29% NA 14.54% 11,184 14,540 NA 15,208The scheme has been in existence for more than 3 year but less than 5 years.Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.*Risk-free rate assumed to be 5.05% (FBIL OVERNIGHT MIBOR as on 31st January 2020). Ratios calculated on the basis of 3 years history of monthly data.The portfolio shall be rebalanced on the first business day of every month.#Benchmark Returns. ##Alternate Benchmark Returns.^The fund has been repositioned from Balanced category to Aggressive Hybrid category w.e.f. April 30, 2018.@Mr. Suyash Choudhary no longer manages the debt portion of the fund. For details please refer Notice (https://www.idfcmf.com/uploads/201120181124Change-in-the-Fund-Manager-for-the- Debt-Portion-of-IDFC-Hybrid-Equity-Fund.pdf )

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Hybrid Equity Fund - Regular Plan - Growth

1 Year 3 Years 5 YearsSince


Total Amount Invested (`) 1,20,000 3,60,000 NA 3,80,000 Total Value as on January 31, 2020 (`) 1,24,868 3,78,053 NA 4,01,677 Fund Returns (%) 7.58 3.20 NA 3.45 Total Value of 65% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index# 1,23,681 3,98,664 NA 4,26,456

65% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index Returns (%)# 5.71 6.73 NA 7.23

Total Value of Nifty 50## 1,25,466 4,14,240 NA 4,44,668 Nifty 50 (%)## 8.52 9.32 NA 9.92



Name Rating % of NAVEquity and Equity related Instruments 77.15%Banks 24.15%ICICI Bank 6.25%HDFC Bank 5.69%Axis Bank 4.99%State Bank of India 4.87%City Union Bank 1.59%RBL Bank 0.76%Consumer Non Durables 10.45%Nestle India 2.77%Tata Global Beverages 2.42%Hindustan Unilever 1.92%Jyothy Labs 1.20%Emami 0.95%DFM Foods 0.74%Prataap Snacks 0.45%Software 7.69%Infosys 3.45%HCL Technologies 1.67%Mastek 0.94%KPIT Technologies 0.64%Birlasoft 0.51%Majesco 0.48%Pharmaceuticals 5.73%IPCA Laboratories 1.76%Laurus Labs 1.28%Sun Pharmaceutical Industries 1.03%Indoco Remedies 0.99%Lupin 0.68%Petroleum Products 5.25%Reliance Industries 4.94%Hindustan Petroleum Corporation 0.31%Finance 4.31%HDFC 2.19%ICICI Prudential Life Insurance Company 1.26%Magma Fincorp 0.55%Sundaram Finance Holdings 0.31%Construction Project 3.39%Larsen & Toubro 3.39%Retailing 2.63%Future Retail 1.38%Avenue Supermarts 1.13%Future Consumer 0.12%Hotels, Resorts And Other Recreational Activities 2.35%EIH 1.41%Taj GVK Hotels & Resorts 0.94%

Name Rating % of NAVChemicals 1.98%Deepak Nitrite 1.98%Consumer Durables 1.75%Titan Company 1.22%Khadim India 0.54%Gas 1.70%GAIL (India) 1.70%Auto Ancillaries 1.68%MRF 1.17%Minda Industries 0.51%Power 1.24%Kalpataru Power Transmission 1.24%Industrial Capital Goods 1.05%Thermax 1.05%Cement 0.68%Ambuja Cements 0.68%Auto 0.60%Bajaj Auto 0.60%Industrial Products 0.51%INEOS Styrolution India 0.51%Corporate Bond 11.37%LIC Housing Finance AAA 5.04%Indian Railway Finance Corporation AAA 1.51%Axis Bank AAA 1.49%REC AAA 0.78%Reliance Industries AAA 0.75%HDFC AAA 0.75%Bajaj Finance AAA 0.75%NABARD AAA 0.15%L&T Finance AAA 0.15%Government Bond 7.42%7.27% - 2026 G-Sec SOV 3.08%7.32% - 2024 G-Sec SOV 1.54%7.26% - 2029 G-Sec SOV 1.53%8.24% - 2027 G-Sec SOV 0.80%7.17% - 2028 G-Sec SOV 0.46%6.84% - 2022 G-Sec SOV 0.02%Certificate of Deposit 1.94%Small Industries Dev Bank of India A1+ 1.46%Axis Bank A1+ 0.48%Zero Coupon Bond 0.65%Bajaj Finance AAA 0.65%State Government Bond 0.22%8.68% Tamil Nadu SDL - 2021 SOV 0.22%Net Cash and Cash Equivalent 1.25%Grand Total 100.00%

21

IDFC Regular Savings Fund(previously known as IDFC Monthly Income Plan)An open ended hybrid scheme investing predominantly in debt instruments31st January 2020

FUND FEATURES

About the Fund: IDFC Regular Savings Fund is a hybrid fund which offers up to 25% participation in the equity markets with the balance invested in fixed income. The Equity portfolio of the fund is an actively managed all cap portfolio. The Fixed Income portfolio is also actively managed with a mix of debt and money market instruments.

Category: Conservative Hybrid



Inception Date: 25 February 2010

Fund Manager: Equity Portion: Mr. Sumit Agrawal (w.e.f. 20th October 2016)

Debt Portion: Mr. Anurag Mittal (w.e.f. 09th November 2015)

Other Parameter:

Modified Duration 2.98 years Average Maturity 3.75 years Yield to Maturity* 6.66%

*Monthly income is not assured and is subject to availability of distributable surplus

Expense Ratio Regular 2.23% Direct 1.22%

Benchmark: 15% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index

(with effect from November 11, 2019)






Option Available: Growth, Dividend - Quarterly, Regular

Exit Load: In respect of each purchase of Units:

- For 10% of investment : Nil

- For remaining investment: 1% if redeemed/switched-out within 365 days from the date of allotment (w.e.f. 24th August 2017)

Performance Table


1 Year 3 Years 5 YearsSince InceptionFeb 25, 2010

1 Year 3 Years 5 YearsSince InceptionFeb 25, 2010

IDFC Regular Savings Fund 8.30% 5.88% 6.65% 8.61% 10,830 11,870 13,805 22,726

15% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index

10.01% 8.15% 7.99% 8.74% 11,001 12,651 14,691 22,984

10 Year GOI## 10.84% 5.04% 7.33% 6.79% 11,084 11,589 14,247 19,201

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns.

SIP PERFORMANCE

Monthly SIP of ` 10,000 in IDFC Regular Savings Fund - Regular Plan - Growth


InceptionFeb 25, 2010

Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 8,40,000 NA 12,00,000

Total Value as on January 31, 2020 (`) 1,25,007 3,94,775 7,09,175 11,02,668 NA 18,46,864

Fund Returns (%) 7.80 6.08 6.62 7.65 NA 8.35

Total Value of 15% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index# 1,25,509 4,06,085 7,39,050 11,47,438 NA 19,10,963

15% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index Returns (%)

8.59 7.98 8.27 8.76 NA 9.00

Total Value of CRISIL 10 Year Gilt Index## 1,25,543 4,05,335 7,22,639 11,02,731 NA 17,57,919

CRISIL 10 Year Gilt Index Returns (%)## 8.65 7.85 7.37 7.65 NA 7.41


NAV (`)

Regular Plan Dividend 12.9161

Regular Plan Growth 22.7258

Regular Plan Quarterly Dividend 13.0967

Riskometer



To provide regular income and capital • appreciation over medium to long term.Investment predominantly in debt and money • market instruments and balance exposure in equity and equity related securities.


PORTFOLIO


Corporate Bond 29.60%HDFC AAA 7.62%Axis Bank AAA 7.55%Indian Railway Finance Corporation AAA 5.26%REC AAA 5.16%Larsen & Toubro AAA 2.73%LIC Housing Finance AAA 1.28%Government Bond 25.99%7.32% - 2024 G-Sec SOV 15.59%7.27% - 2026 G-Sec SOV 10.39%Zero Coupon Bond 11.27%Sundaram Finance AAA 10.65%Bajaj Finance AAA 0.62%Equity 24.01%Banks 5.25%HDFC Bank 2.06%ICICI Bank 1.34%Kotak Mahindra Bank 0.74%Axis Bank 0.66%State Bank of India 0.45%Finance 3.06%HDFC 1.68%Bajaj Finance 0.88%Multi Commodity Exchange of India 0.50%Consumer Non Durables 2.86%ITC 0.67%Hindustan Unilever 0.54%Jubilant Foodworks 0.51%GlaxoSmithKline Consumer Healthcare 0.36%DFM Foods 0.28%Asian Paints 0.25%Nestle India 0.25%Software 2.25%Infosys 1.37%Tata Consultancy Services 0.88%Petroleum Products 1.88%Reliance Industries 1.88%Auto 1.46%Maruti Suzuki India 0.37%Bajaj Auto 0.32%Hero MotoCorp 0.26%TVS Motor Company 0.25%Mahindra & Mahindra 0.25%Pharmaceuticals 1.33%IPCA Laboratories 0.53%Divi's Laboratories 0.27%


Torrent Pharmaceuticals 0.27%Dr. Reddy's Laboratories 0.25%Chemicals 0.80%Fine Organic Industries 0.80%Telecom - Services 0.77%Bharti Airtel 0.77%Consumer Durables 0.77%Titan Company 0.26%Voltas 0.26%Bata India 0.25%Construction Project 0.69%Larsen & Toubro 0.69%Cement 0.57%JK Cement 0.31%UltraTech Cement 0.26%Retailing 0.53%Aditya Birla Fashion and Retail 0.53%Gas 0.51%Indraprastha Gas 0.26%Gujarat Gas 0.25%Auto Ancillaries 0.49%Exide Industries 0.25%Minda Industries 0.24%Industrial Products 0.27%Prince Pipes And Fittings 0.27%Pesticides 0.27%PI Industries 0.27%Textile Products 0.26%SRF 0.26%Net Cash and Cash Equivalent 9.13%Grand Total 100.00%

Asset Quality

AAA Equivalent100.00%


22

IDFC Asset Allocation Fund of FundsAn open ended fund of fund scheme investing in schemes of IDFC Mutual Fund - equity funds and

debt funds excluding Gold ETF.

31st January 2020

FUND FEATURES

NAV (`)


IDFC Asset Allocation Fund - Conservative Plan

Category: Fund of Funds (Domestic)




Fund Manager: Mr. Arpit Kapoor (w.e.f. April 18, 2018)

Expense Ratio

Regular 0.79% Direct 0.06%

Benchmark: 15% S&P BSE 200 TRI + 80% CRISIL Short Term Index + 5% Gold Prices (w.e.f. May 28, 2018)

SIP (Minimum Amount) : `1,000/-


SIP Dates (Monthly) Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment.


Minimum Investment Amount : ` 5,000/- and any amount thereafter

Option Available : Growth, Dividend - (Payout, Reinvestment and Sweep)

Exit Load: 1.50% if redeemed before 18 months from the date of allotment.

FUND FEATURES FUND FEATURES

IDFC Asset Allocation Fund - Moderate Plan






Expense Ratio










IDFC Asset Allocation Fund - Aggressive Plan






Expense Ratio










NAV (`)


NAV (`)


Riskometer



To generate capital appreciation and income • over long term.

Investment in different IDFC Mutual Fund • schemes based on a defined asset allocation model.


Riskometer

Investors understand that their principal will be at Moderate risk





Riskometer






PORTFOLIO

Name ConservativePlan

ModeratePlan

AggressivePlan

TRI Party Repo Total 4.16% 0.71% -

Clearing Corporation of India 4.16% 0.71% -

Debt 72.80% 53.40% 27.20%

IDFC Low Duration Fund 42.91% 34.96% 9.06%

IDFC Bond Fund -Short Term Plan 24.77% 17.28% 15.52%

IDFC Cash Fund 5.13% 1.16% 2.63%

Equity 23.14% 46.18% 72.97%

IDFC Core Equity Fund 9.11% 10.43% 10.79%

IDFC Sterling Value Fund - 12.76% 21.61%

IDFC Multi Cap Fund 4.81% 11.30% 21.09%

IDFC Large Cap Fund 9.22% 11.70% 19.47%

Net Current Asset -0.10% -0.28% -0.17%

Grand Total 100.00% 100.00% 100.00%

PORTFOLIO FUND FEATURES

Standard Allocation % to net assets

ParticularsConservative

Plan

Moderate

Plan

Aggressive

Plan

Equity Funds (including

Offshore equity)10-30% 25-55% 40-80%

Debt Funds and/or

Arbitrage funds (including

Liquid fund)

35-90% 10-75% 0-40%

Alternate (including Gold/

Commodity based funds)0-30% 0-30% 0-30%

Debt and Money Market

Securities0-5% 0-5% 0-5%

(w.e.f. 28 May, 2018)

FUND FEATURES

23

Performance Table


1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception

IDFC Asset Allocation Fund - CP*^ 8.92% 6.99% 7.19% 8.45% 10,892 12,246 14,157 22,468

15% S&P BSE 200 TRI + 80% CRISIL Short Term Index + 5% Gold Prices#$ 13.80% 8.65% 8.92% 9.05% 11,380 12,826 15,337 23,725

CRISIL 10 Year Gilt Index## 10.84% 5.04% 7.33% 6.82% 11,084 11,589 14,247 19,307

*Since Inception Regular Plan - Growth Feb 11, 2010.

Performance Table



IDFC Asset Allocation Fund - MP*^ 9.03% 6.94% 6.72% 9.05% 10,903 12,228 13,847 23,729

40% S&P BSE 200 TRI + 55% CRISIL Short Term Index + 5% Gold Prices#$

13.02% 7.89% 8.46% 8.82% 11,302 12,560 15,019 23,233


*Since Inception Regular Plan - Growth Feb 11, 2010.

Performance Table



IDFC Asset Allocation Fund - AP*^ 8.48% 6.72% 5.76% 9.11% 10,848 12,155 13,236 23,871

65% S&P BSE 200 TRI + 30% CRISIL Short Term Index + 5% Gold Prices#$

12.38% 11.11% 8.73% 10.45% 11,238 13,715 15,200 26,940


Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages. #Benchmark Returns. ##Alternate Benchmark Returns.*Inception Date of Regular Plan - Growth Feb 11, 2010. ^The fund has been repositioned w.e.f. May 28, 2018 and since will invest only in the schemes of IDFC Mutual Funds. $Current Index performance adjusted for the period from since inception to May 28, 2018 with the performance of CRISIL Hybrid 85+15 Conservative Index (Benchmark for IDFC Asset Allocation Fund- Conservative Plan and IDFC Asset Allocation Fund- Moderate Plan) and CRISIL Hybrid 35+65 - Aggressive Index (Benchmark for IDFC Asset Allocation Fund – Aggressive Plan)

IDFC Asset Allocation Fund of FundsAn Open Ended Fund of Funds Scheme

31st January 2020

IDFC All Season Bond FundAn open ended fund of fund scheme investing in debt oriented mutual fund schemes (including liquid and money market schemes) of IDFC Mutual Fund

31st January 2020

FUND FEATURES

About the Fund: All Seasons Bond Fund is a Fund of Fund (FOF) structure which can invest in one or more funds within our basket of short term offerings currently. The portfolio gives the fund manager the flexibility to play between debt and money market, benefiting from the accrual available in its space and optimizing the portfolio yields.

Category: Fund of Funds (Domestic) | Monthly Avg AUM: ` 146.33 Crores | Month end AUM: ` 146.81 Crores

Inception Date: 13 September 2004 | Fund Manager: Mr. Harshal Joshi (w.e.f 15th July 2016)

Other Parameter Asset Quality Expense Ratio

Standard Deviation (Annualized) 2.29% AAA Equivalent 100% Regular 0.49%

Modified Duration 2.32 years AA+ - Direct 0.10%

Average Maturity 2.76 years AA -

Yield to Maturity 6.73%

Benchmark: NIFTY AAA Short Duration Bond Index (w.e.f. 11th November 2019) | SIP (Minimum Amount): ` 1,000/- | SIP Frequency: Monthly

SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment. | Investment Objective: Refer Pg No from 49 to 50

Minimum Investment Amount: ` 5,000/- and any amount thereafter | Option Available: Growth, Dividend - Daily, Weekly, Fortnightly, Quarterly, Half Yearly, Annual & Periodic

Exit Load: 0.50% if redeemed or switched before 3 months (w.e.f. 09th October 2013)

NAV (`)

Plan Option Freq NAVRegular Plan Growth - 31.2160Regular Plan Dividend Quarterly 12.6173Regular Plan Dividend Half Yearly 12.0690Regular Plan Dividend Annual 12.5927Regular Plan Dividend Fortnightly 11.0590Regular Plan Dividend Daily 11.0156Regular Plan Dividend Weekly 11.0132Regular Plan Dividend Periodic 15.4344

PORTFOLIO

Name % of NAV

Mutual Fund Units 99.60%

IDFC Banking & PSU Debt Fund 63.09%

IDFC Bond Fund - Short Term Plan 36.51%


Grand Total 100.00%

Riskometer

Investors understand that their principal will be at Moderately Low Risk


To generate short to medium term • optimal returns.Investment in debt oriented schemes of • IDFC Mutual Fund.



1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since InceptionIDFC All Seasons Bond Fund* 10.59% 7.48% 7.90% 7.68% 11,059 12,417 14,632 31,216NIFTY AAA Short Duration Bond Index# 10.44% 7.43% 8.10% 8.04% 11,044 12,400 14,770 32,886CRISIL 1 Year T-Bill## 7.25% 6.70% 7.08% 6.22% 10,725 12,149 14,082 25,308

Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages. #Benchmark Returns. ##Alternate Benchmark Returns. *Inception Date of Regular Plan - Growth Sep 13, 2004.*Investors may note that they will be bearing recurring expenses of the Scheme in addition to the expenses of the underlying schemes in which the Fund of Funds scheme invests.

Core Bucket

24

The importance of ‘FIRST PRINCIPLES’ when investing in DEBT MUTUAL FUNDSSuyash Choudhary, Head - Fixed Income

Identifying Risk in Debt Mutual Funds (MFs)

• Interest rate risk Risk of loss owing to changes in interest rates. This risk is best captured by the duration of the fund.

• Credit risk Risk of loss owing to change in credit profile of an issuer that leads either to a downgrade or default.’

Identifying own risk profile Since mutual funds cannot guarantee returns, it is very important to appropriately identify one's own risk profile while deciding where to invest. If one wants a risk profile that is the closest to a fixed deposit, one has to choose a debt fund that controls both the interest rate and credit risk.

The First Principles Requirements from a Mutual Fund (MF) Remember to look for one where majority of the investments are liquid; which means that the fund manager should be able to sell them at least in ordinary market conditions.

Some False Premises There are some false premises in debt fund investing that one should be aware of:

MFs can manage liquidity via exit loads In many cases chiefly for credit risk funds, because a significant part of the portfolio consists of illiquid securities, the fund manager relies on suitable exit loads to deter redemption. In some sense, some sort of an asset liability management (ALM) framework is used. So asset maturity is in 'buckets' basis the exit load periods of investors. Exit loads are no doubt a large detriment for redeeming from a mutual fund. However, by no stretch of the imagination can they be relied upon as a sufficiently high detriment. As has already been shown in the Indian market as well, if the investor concern is strong enough, she can pay exit load and redeem.

Even AAA can default, so why bother? Recent events have evoked this response in certain quarters. As an admittedly extreme analogy this is somewhat akin to saying food can sometimes make you choke, so why eat! The probability of AAA defaulting is negligible. This has been proved with data over multiple decades. This doesn’t mean it can never happen. However, to use a once-in-a-blue moon default and paint a general principle is not advisable at all. Also with some due diligence, the weaker AAA can be generally weeded out by the fund manager in most cases.

Conclusions The attempt here has been to highlight some first principles that will hopefully serve well when making allocations to fixed income mutual funds. Some of the key takeaways are summarized below:

1. Investors should first be aware of individual risk profile. Assuming debt investments are first made for conservatism, a majority of allocations should be to full AAA funds in the low duration / short term / medium term / corporate bond / Banking PSU categories.

2. Credit is a risk just like interest rates are. It can lead to both positive as well as negative outcomes. The key is to allocate to both credit and duration in the so-called ‘alpha’ bucket’ and not in the core debt allocation bucket.

3. An open ended debt mutual fund should first and foremost fulfill the criterion that a majority of its portfolio should have liquidity and price discovery via the open market. This enables seamless redemption management, consistency in portfolio profile even with inflows and redemptions, and the discovery of NAV that is largely accurate.

4. A lot of discussion on credit revolves around quality of manager and depth of research process. What is equally important, however, is to ask this: Is the nature of risk being taken consistent with the vehicle being used to take the risk? More specifically, are open ended mutual funds the appropriate vehicle to take on such positions?

25

About the Fund: The fund aims to generate short term optimal returns in line with overnight rates.

FUND FEATURESAbout the Fund: The Fund aims to invest in high quality debt and money market instruments with high liquidity and seeks to generate accrual income with low volatility.

Category: Liquid | Monthly Avg AUM: ` 11,303.15 Crores | Month end AUM: ` 9,799.01 Crores | Inception Date: 2 July 2001

Fund Manager: Mr. Harshal Joshi (w.e.f. 15th September 2015) & Mr. Anurag Mittal (w.e.f. 09th November 2015)

Other Parameter Asset Quality Expense Ratio

Standard Deviation (Annualized) 0.26% AAA Equivalent 100% Regular 0.16%

Modified Duration 29 days AA+ - Direct 0.11%

Average Maturity 29 days AA -Yield to Maturity 5.21%

`

IDFC Overnight FundAn open-ended Debt Scheme investing in overnight securities

31st January 2020

FUND FEATURES

Other Parameter Asset Allocation Asset Quality Expense Ratio

Modified Duration 3 Days NCA 0.08% AAA Equivalent 100.00% Regular 0.19%

Average Maturity 3 Days TRI Party Repo 99.92% Direct 0.06%


Benchmark: I - Nifty 1D Rate Index | SIP (Minimum Amount): ` 1,000/- | SIP Frequency: Monthly | SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment. | Investment Objective: Refer Pg No from 49 to 50 | Minimum Investment Amount: ` 5,000/- and any amount thereafter | Option Available: Growth, Dividend - Daily (Reinvestment), Weekly (Reinvestment), Monthly Dividend & Periodic (Reinvestment, Payout and Sweep facility). | Exit Load: Nil.

IDFC Cash FundAn Open Ended Liquid Fund31st January 2020

PORTFOLIO

Name % of NAV

Clearing Corporation of India Ltd 99.92%

TRI Party Repo Total 99.92%


Grand Total 100.00%

Riskometer

Investors understand that theirprincipal will be at Low risk


To generate short term optimal • returns in line with overnight rates and high liquidity.To invest in money market and debt • nstruments, with maturity of 1 day. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

NAV (`) as on 31/01/2020

Plan Regular Plan Regular Plan Regular Plan Regular Plan

Option Growth Dividend Dividend Dividend

Freq - Daily Weekly Monthly

NAV 1057.1568 1000.0001 1001.8477 1000.3937

Asset AllocationPORTFOLIO


Commercial Paper 35.82%Reliance Jio Infocomm A1+ 9.63%Reliance Industries A1+ 6.25%NTPC A1+ 5.07%Kotak Mahindra Prime A1+ 3.56%NABARD A1+ 3.05%Reliace Retail A1+ 2.55%Indian Oil Corporation A1+ 2.47%HDFC A1+ 1.96%Kotak Mahindra Investments A1+ 0.76%Sundaram Finance A1+ 0.51%Treasury Bill 25.68%364 Days Tbill - 2020 SOV 9.66%91 Days Tbill - 2020 SOV 8.11%63 Days CMB - 2020 SOV 7.86%182 Days Tbill - 2020 SOV 0.05%Certificate of Deposit 15.47%Bank of Baroda A1+ 9.06%Kotak Mahindra Bank A1+ 2.54%Axis Bank A1+ 1.68%ICICI Bank A1+ 1.52%


Small Industries Dev Bank of India A1+ 0.66%Corporate Bond 14.69%National Housing Bank AAA 3.27%NABARD AAA 2.62%HDFC AAA 2.41%LIC Housing Finance AAA 1.63%Bajaj Finance AAA 1.48%Power Finance Corporation AAA 1.02%Power Grid Corporation of India AAA 0.82%HDB Financial Services AAA 0.51%NHPC AAA 0.45%Sundaram Finance AAA 0.26%Indian Railway Finance Corporation AAA 0.21%Zero Coupon Bond 2.82%Kotak Mahindra Prime AAA 1.06%HDB Financial Services AAA 0.64%Kotak Mahindra Investments AAA 0.51%Bajaj Finance AAA 0.32%LIC Housing Finance AAA 0.29%Net Cash and Cash Equivalent 5.53%Grand Total 100.00%

Category : Overnight | Monthly Avg AUM : ` 734.18 Crores | Month end AUM : ` 865.29 Crores

Inception Date : 18 January 2019 | Fund Manager : Mr. Brijesh Shah (w.e.f. 1st February 2019)

Riskometer

Investors understand that theirprincipal will be at Low risk


To generate short term optimal returns • with stability and high liquidity.Investments in money market and • debt instruments, with maturity up to 91 days. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Liquidity Management Bucket


NAV (`) as on 31/01/2020

PlanRegular

Plan Regular

Plan Regular

Plan Regular

Plan Regular

Plan

Option Growth Dividend Dividend Dividend Dividend

Freq - Daily Weekly Periodic Monthly

NAV 2369.2688 1001.0846 1002.0449 1562.3771 1000.7422

Benchmark: CRISIL Liquid Fund Index | SIP (Minimum Amount): ` 100/- | SIP Frequency: Monthly SIP Dates (Monthly): Investor may choose any day of the month except 29th, 30th and 31st as the date of instalment. | Investment Objective: Refer Pg No from 49 to 50 Minimum Investment Amount: ` 100/- and any amount thereafter | Option Available: Growth, Dividend - Daily, Weekly, Monthly & Periodic | Exit Load*

Investor exit upon subscription

Exit load as a % of redemption proceeds

Investor exit upon subscription

Exit load as a % of redemption proceeds

Day 1 0.0070% Day 5 0.0050%

Day 2 0.0065% Day 6 0.0045%

Day 3 0.0060% Day 7 onwards 0.0000%

Day 4 0.0055%*With effect from October 20, 2019


1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since InceptionIDFC Overnight Fund 5.46% NA NA 5.51% 10,546 NA NA 10,572Nifty 1D Rate Index# 5.61% NA NA 5.64% 10,561 NA NA 10,585CRISIL 1 Year T-Bill## 7.25% NA NA 7.32% 10,725 NA NA 10,759

The scheme has been in existence for more than 1 year but less than 3 years.Performance based on NAV as on 31/01/2020. Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages. #Benchmark Returns. ##Alternate Benchmark Returns. *Inception Date of Regular Plan - Growth Jan 18, 2019.

26



Corporate Bond 64.84%LIC Housing Finance AAA 9.92%HDFC AAA 9.01%NABARD AAA 6.81%National Housing Bank AAA 6.44%Reliance Industries AAA 5.99%Larsen & Toubro AAA 5.78%Power Finance Corporation AAA 5.61%Indian Railway Finance Corporation AAA 5.43%Bajaj Finance AAA 4.05%Small Industries Dev Bank of India AAA 2.05%HDB Financial Services AAA 1.19%Kotak Mahindra Prime AAA 1.01%REC AAA 0.92%Power Grid Corporation of India AAA 0.55%NTPC AAA 0.09%


Certificate of Deposit 19.37%Axis Bank A1+ 11.74%Small Industries Dev Bank of India A1+ 5.48%NABARD A1+ 2.15%Commercial Paper 6.15%Reliance Industries A1+ 4.89%Kotak Mahindra Investments A1+ 1.25%Treasury Bill 5.15%76 Days CMB - 2020 SOV 4.63%364 Days Tbill - 2020 SOV 0.34%63 Days CMB - 2020 SOV 0.18%Zero Coupon Bond 1.71%Kotak Mahindra Prime AAA 0.91%Bajaj Finance AAA 0.79%Net Cash and Cash Equivalent 2.78%Grand Total 100.00%

Performance Table



IDFC Cash Fund* 6.16% 6.70% 7.18% 7.67% 10,616 12,148 14,146 23,693

CRISIL Liquid Fund Index# 6.68% 7.01% 7.31% 7.49% 10,668 12,254 14,234 23,218

1 Year T-Bill## 7.25% 6.70% 7.08% 6.57% 10,725 12,149 14,082 21,013

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Jun 04, 2008.

IDFC Cash FundAn Open Ended Liquid Fund31st January 2020

IDFC Ultra Short Term FundAn open-ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 to 6 months 31st January 2020

About the Fund: The Fund aims to invest in high quality debt and money market instruments with average maturity of 3 to 6 months and seeks to generate stable returns with a low risk strategy.

Category: Ultra Short Duration



Inception Date: 18th July 2018

Fund Manager: Mr. Harshal Joshi (w.e.f. 18th July 2018)

Other Parameter:

Modified Duration 160 days

Average Maturity 167 days


Expense Ratio

Regular 0.35%

Direct 0.20%

Benchmark: NIFTY Ultra Short Duration Debt Index (01 February 2019)





Minimum Investment Amount: `100/- and any amount thereafter

Option Available: Growth, Dividend - Daily, Weekly, Monthly, Quarterly & Periodic

Exit Load: Nil

NAV (`)

Plan Option Freq NAV

Regular Plan Growth - 11.2566

Regular Plan Dividend Daily 10.0496

Regular Plan Dividend Weekly 10.0733

Regular Plan Dividend Periodic 11.2647

Regular Plan Dividend Monthly 10.0375

Regular Plan Dividend Quarterly 10.1465

Riskometer



To generate returns over short-term investment • horizon with a low risk strategy

To invest in debt and money market instruments*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Asset Allocation Asset Quality




Inception1 Year 3 Years 5 Years

SinceInception

IDFC Ultra Short Term Fund 7.79% NA NA 7.99% 10,779 NA NA 11,257

NIFTY Ultra Short Duration Debt Index#

7.60% NA NA 7.91% 10,760 NA NA 11,243

1 Year T-Billl## 7.25% NA NA 7.69% 10,725 NA NA 11,208

The scheme has been in existence for more than 1 year but less than 3 years.Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth July 18, 2018.

Core Bucket


AAA mfs

by CARE

27

IDFC Low Duration Fund(previously known as IDFC Ultra Short Term Fund)An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months31st January 2020


About the Fund: The Fund aims to invest in high quality debt and money market instruments and seeks to generate returns predominantly through accrual income.

Category: Low Duration



Inception Date: 17 January 2006

Fund Manager: Mr. Anurag Mittal (w.e.f. 09th November 2015)

Other Parameter:





Expense Ratio

Regular 0.48%

Direct 0.26%

Benchmark: NIFTY Low Duration Debt Index(with effect from November 11, 2019)





Minimum Investment Amount: ` 100/- and any amount thereafter

Option Available: Growth, Dividend - Daily, Weekly, Monthly, Quarterly & Periodic

Exit Load: Nil (Since 29th June 2012)

NAV (`)









Corporate Bond 63.35%Indian Railway Finance Corporation AAA 10.81%HDFC AAA 10.75%Power Finance Corporation AAA 9.90%LIC Housing Finance AAA 5.58%Reliance Industries AAA 5.36%Larsen & Toubro AAA 5.07%REC AAA 4.86%NABARD AAA 3.62%Power Grid Corporation of India AAA 2.43%HDB Financial Services AAA 1.58%Small Industries Dev Bank of India AAA 1.06%Bajaj Finance AAA 1.03%Kotak Mahindra Prime AAA 0.43%Sundaram Finance AAA 0.43%UltraTech Cement AAA 0.26%Export Import Bank of India AAA 0.18%Certificate of Deposit 21.49%Axis Bank A1+ 8.30%Small Industries Dev Bank of India A1+ 6.37%ICICI Bank A1+ 3.07%NABARD A1+ 2.04%Bank of Baroda A1+ 1.71%Zero Coupon Bond 5.46%LIC Housing Finance AAA 2.45%Kotak Mahindra Investments AAA 2.12%Kotak Mahindra Prime AAA 0.56%Bajaj Finance AAA 0.26%Sundaram Finance AAA 0.07%Government Bond 0.89%7.32% - 2024 G-Sec SOV 0.45%7.27% - 2026 G-Sec SOV 0.45%State Government Bond 0.03%7.55% Maharastra SDL - 2021 SOV 0.03%Net Cash and Cash Equivalent 8.78%Grand Total 100.00%




SinceInception

IDFC Low Duration Fund*^ 8.26% 7.46% 7.96% 7.67% 10,826 12,410 14,673 28,242

NIFTY Low Duration Debt Index 8.05% 7.43% 7.82% 8.37% 10,805 12,397 14,578 30,925

1 Year T-Billl## 7.25% 6.70% 7.08% 6.39% 10,725 12,149 14,082 23,868

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Jan 17, 2006.^The fund has been repositioned from an ultra short term fund to a low duration fund w.e.f. May 28, 2018.

Riskometer



To generate short term optimal returns with • relative stability and high liquidity.Investments in debt and money market • instruments such that the Macaulay duration of the portfolio is between 6 months- 12 months.


Asset Quality


Asset Allocation

Core Bucket

28

IDFC Money Manager Fund (The Fund has been repositioned as IDFC Money Manager Fund w.e.f. Monday, June 04, 2018) An open ended debt scheme investing in money market instruments31st January 2020


About the Fund: The Fund aims to invest only in short maturity, highly rated debt and money market instruments and seeks to generate returns predominantly through accrual income.

Category: Money Market




Fund Manager: Mr. Anurag Mittal & Harshal Joshi (w.e.f. 15th May 2017)

Other Parameter:





Expense Ratio

Regular 1.04%

Direct 0.30%

Benchmark: NIFTY Money Market Index (w.e.f 11th November, 2019)





Minimum Investment Amount: ` 100/- and any amount thereafter

Option Available: Growth, Dividend - Daily, Weekly, Monthly & Periodic

Exit Load: Nil

NAV (`)








Certificate of Deposit 54.55%

Axis Bank A1+ 12.79%

Small Industries Dev Bank of India A1+ 12.26%

NABARD A1+ 11.90%

ICICI Bank A1+ 9.30%

Bank of Baroda A1+ 4.35%

Kotak Mahindra Bank A1+ 3.97%

Commercial Paper 45.88%

Reliance Industries A1+ 12.06%

Bajaj Finance A1+ 10.74%

HDFC A1+ 9.63%

HDB Financial Services A1+ 4.98%

Export Import Bank of India A1+ 4.32%

Sundaram Finance A1+ 4.15%

Net Cash and Cash Equivalent -0.43%

Grand Total 100.00%




SinceInception

IDFC Money Manager Fund*^ 6.49% 6.22% 7.02% 6.75% 10,649 11,986 14,041 30,283

NIFTY Money Market Index# 6.93% 7.02% 7.44% 7.56% 10,693 12,258 14,325 34,440

1 Year T-Bill## 7.25% 6.70% 7.08% 6.09% 10,725 12,149 14,082 27,261

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data*Inception Date of Regular Plan - Growth Feb 18, 2003.^The fund has been repositioned from a floating rate fund to a money market fund w.e.f. June 4, 2018.

Riskometer



To generate short term optimal returns with • relative stability and high liquidity.Investments predominantly in money market • instruments.


Asset Quality


Asset Allocation

Core Bucket

29

IDFC Banking & PSU Debt Fund An open ended debt scheme predominantly investing in debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds31st January 2020


About the Fund: The Fund will predominantly invest in high quality money market and debt instruments of Banks, PSU and PFI.

Category: Banking and PSU




Fund Manager: Mr. Anurag Mittal (w.e.f. 15th May 2017)

Other Parameter:


Modified Duration 2.59 years

Average Maturity 3.10 years


Expense Ratio

Regular 0.65%

Direct 0.30%

Benchmark: NIFTY Banking & PSU Debt Index(w.e.f. 11th November 2019)






Option Available: Growth, Dividend - Daily, Fortnightly, Monthly (Reinvestment), Quarterly (Payout), Annual (Payout) & Periodic

Exit Load: Nil (w.e.f. June 12th 2017)

NAV (`)

Plan Option Freq NAVRegular Plan Growth - 17.4445Regular Plan Dividend - 12.6906Regular Plan Dividend Fortnightly 10.6297Regular Plan Dividend Daily 10.5822Regular Plan Dividend Monthly 10.6480Regular Plan Dividend Quarterly 10.7756Regular Plan Dividend Annual 11.1425


Corporate Bond 90.22%NABARD AAA 11.11%LIC Housing Finance AAA 9.34%Power Finance Corporation AAA 8.50%National Highways Auth of Ind AAA 6.19%Hindustan Petroleum Corporation AAA 5.91%National Housing Bank AAA 5.86%Axis Bank AAA 5.86%REC AAA 4.97%Small Industries Dev Bank of India AAA 4.94%Indian Railway Finance Corporation AAA 4.72%Export Import Bank of India AAA 4.29%Power Grid Corporation of India AAA 3.22%ICICI Bank AAA 2.83%Housing & Urban Development Corporation AAA 2.28%Bharat Petroleum Corporation AAA 2.18%HDFC AAA 1.33%NHPC AAA 1.31%Reliance Industries AAA 1.27%Kotak Mahindra Prime AAA 1.14%NTPC AAA 1.03%Bajaj Finance AAA 1.02%HDB Financial Services AAA 0.74%Sundaram Finance AAA 0.15%Tata Sons Private AAA 0.03%Zero Coupon Bond 4.39%Sundaram Finance AAA 1.93%HDB Financial Services AAA 1.30%LIC Housing Finance AAA 0.77%Bajaj Finance AAA 0.38%Certificate of Deposit 2.33%ICICI Bank A1+ 1.05%Small Industries Dev Bank of India A1+ 0.87%Kotak Mahindra Bank A1+ 0.22%Axis Bank A1+ 0.19%State Government Bond 0.02%8.48% Tamilnadu SDL - 2023 SOV 0.02%8.10% Tamil Nadu SDL - 2023 SOV 0.004%Net Cash and Cash Equivalent 3.05%Grand Total 100.00%




SinceInception

IDFC Banking & PSU Debt Fund* 11.56% 8.14% 8.15% 8.39% 11,156 12,644 14,801 17,445

NIFTY Banking & PSU Debt Index# 10.00% 6.86% 7.68% 8.24% 11,000 12,201 14,482 17,274

1 Year T-Bill## 7.25% 6.70% 7.08% 7.11% 10,725 12,149 14,082 16,074

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns.Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Mar 07, 2013.The Fund (erstwhile IDFC Banking Debt Fund) has been repositioned with effect from June 12, 2017.

Riskometer

Investors understand that their principal will be at Moderate Risk


To generate optimal returns over short to • medium term.Investments predominantly in debt & money • market instruments issued by PSU, Banks & PFI.



Asset Quality

Asset Allocation

Maturity Bucket

% NAV

6.50

46.26

47.24

0 10 20 30 40 50

Upto 1 year

1-3 years

Above 3 years

Core Bucket

30

IDFC Corporate Bond FundAn open ended debt scheme predominantly investing in AA+ and above rated corporate bonds.

31st January 2020


About the Fund: The fund focuses on delivering returns through investment in the corporate bond segment.

Category: Corporate Bond



Inception Date: 12 January 2016

Fund Manager: Mr. Anurag Mittal (w.e.f. 12th January 2016)

Other Parameter:





Expense Ratio

Regular 0.57%

Direct 0.27%

Benchmark: NIFTY AAA Short Duration Bond Index (with effect from November 11, 2019)






Option Available: Dividend-Monthly, Quarterly, Half Yearly, Annual & Periodic

Exit Load: Nil

NAV (`)

Plan Option Freq NAVRegular Plan Growth - 13.5533Regular Plan Dividend - N.ARegular Plan Dividend Periodic 12.9546Regular Plan Dividend Monthly 10.5199Regular Plan Dividend Half

Yearly10.9262

Regular Plan Dividend Quarterly 10.5953Regular Plan Dividend Annual 10.8886


Corporate Bond 76.77%HDFC AAA 9.52%National Housing Bank AAA 9.17%NABARD AAA 8.22%Indian Railway Finance Corporation AAA 6.45%HDB Financial Services AAA 5.93%LIC Housing Finance AAA 5.91%REC AAA 5.51%Larsen & Toubro AAA 5.46%Small Industries Dev Bank of India AAA 3.76%Indian Oil Corporation AAA 3.67%Reliance Jio Infocomm AAA 3.47%Power Finance Corporation AAA 2.80%Tata Sons Private AAA 2.00%Power Grid Corporation of India AAA 1.04%Export Import Bank of India AAA 0.87%Reliance Industries AAA 0.79%Hindustan Petroleum Corporation AAA 0.54%Sundaram Finance AAA 0.36%Mahindra Vehicle Mfg AAA 0.36%NTPC AAA 0.26%UltraTech Cement AAA 0.22%Axis Finance AAA 0.18%Kotak Mahindra Prime AAA 0.18%Bajaj Finance AAA 0.07%National Highways Auth of Ind AAA 0.04%State Government Bond 16.50%9.22% Gujarat SDL - 2023 SOV 3.87%8.25% Gujarat SDL - 2024 SOV 3.61%7.68% Chattisgarh SDL - 2024 SOV 0.98%8.25% Andhra PradeshSDL -2023 SOV 0.93%8.63% Tamilnadu SDL - 2023 SOV 0.64%8.14% Maharashtra SDL - 2025 SOV 0.53%8.48% Tamilnadu SDL - 2023 SOV 0.41%8.67% Maharashtra SDL - 2023 SOV 0.38%8.6% Madhya Pradesh SDL - 2023 SOV 0.38%8.08% Haryana SDL - 2025 SOV 0.37%


7.93% Chattisgarh SDL - 2024 SOV 0.37%8.56% Tamilnadu SDL - 2023 SOV 0.34%8.06% Tamil Nadu SDL - 2025 SOV 0.26%8.25% Maharastra SDL - 2025 SOV 0.23%8.64% Andhra Pradesh SDL - 2023 SOV 0.23%9.80% Haryana SDL - 2024 SOV 0.20%9.24% Maharashtra SDL - 2024 SOV 0.19%8.73% Karnataka SDL - 2024 SOV 0.19%8.27% Haryana SDL - 2025 SOV 0.19%8.27% Haryana SDL - 2024 SOV 0.19%8.42% Tamilnadu SDL - 2023 SOV 0.19%8.15% Haryana SDL - 2025 SOV 0.19%8.06% Maharastra SDL - 2025 SOV 0.19%6.77% Tamil Nadu SDL - 2024 SOV 0.18%6.7% Tamil Nadu SDL - 2024 SOV 0.18%9.48% Andhra Pradesh SDL - 2024 SOV 0.16%8.05% Maharashtra SDL - 2025 SOV 0.15%8.64% Madhya Pradesh SDL - 2023 SOV 0.11%8.10% Tamil Nadu SDL - 2025 SOV 0.11%8.07% Gujarat SDL - 2025 SOV 0.11%9.71% Haryana SDL - 2024 SOV 0.08%9.24% Haryana SDL - 2024 SOV 0.08%8.25% Madhya Pradesh SDL - 2025 SOV 0.08%8.21% Tamilnadu SDL - 2025 SOV 0.08%8.14% Gujarat SDL - 2025 SOV 0.08%9.11% Maharashtra SDL - 2024 SOV 0.04%8.04% Maharashtra SDL - 2025 SOV 0.04%Certificate of Deposit 2.14%Kotak Mahindra Bank A1+ 1.21%Small Industries Dev Bank of India A1+ 0.75%Axis Bank A1+ 0.18%Zero Coupon Bond 1.19%LIC Housing Finance AAA 0.65%Kotak Mahindra Investments AAA 0.32%HDFC AAA 0.22%Net Cash and Cash Equivalent 3.40%Grand Total 100.00%




SinceInception

IDFC Corporate Bond Fund* 8.31% 6.77% NA 7.79% 10,831 12,172 NA 13,553

NIFTY AAA Short Duration Bond Index# 10.44% 7.43% NA 8.13% 11,044 12,400 NA 13,729

1 Year T-Bill## 7.25% 6.70% NA 6.86% 10,725 12,149 NA 13,086

The scheme has been in existence for more than 1 year but less than 3 years.Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Jan 12, 2016.

Riskometer

Investors understand that theirprincipal will be at Moderate risk


To generate medium to long term optimal • returns.Investments predominantly in high quality • corporate bonds.


Asset Quality


Asset Allocation

Maturity Bucket

% NAV

35.75

9.69

54.56

0 10 20 30 40 50 60

Upto 1 year

1-3 years

Above 3 years

Core Bucket

31

IDFC Bond Fund – Short Term Plan(IDFC MMF IP has been merged with IDFC Bond Fund – Short Term Plan w.e.f. May 14, 2018)(previously known as IDFC Super Saver Income Fund - Short Term Plan)An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years31st January 2020


About the Fund: A Short Term Income Fund, the portfolio is mostly a mix of short duration debt and money market instruments. The average portfolio maturity will not ordinarily exceed around 2 years.

Category: Short Duration




Fund Manager: Mr. Suyash Choudhary (Since 11th March 2011)

Other Parameter:





Expense Ratio

Regular 0.79%

Direct 0.28%

Benchmark: NIFTY AAA Short Duration Bond Index (with effect from November 11, 2019)






Option Available: Growth, Dividend - Fortnightly (Payout, Reinvestment & Sweep), Monthly & Periodic

Exit Load: Nil (w.e.f. 23rd May 2016)

NAV (`)




Regular Plan Dividend Fortnightly 10.3961



Regular Plan Dividend Annual 10.8545


Corporate Bond 92.57%Reliance Industries AAA 11.56%NABARD AAA 11.23%HDFC AAA 10.99%LIC Housing Finance AAA 8.32%Power Finance Corporation AAA 8.23%National Highways Auth of Ind AAA 6.73%REC AAA 6.26%Small Industries Dev Bank of India AAA 4.47%Indian Railway Finance Corporation AAA 4.25%Bajaj Finance AAA 4.03%National Housing Bank AAA 3.80%Power Grid Corporation of India AAA 3.66%NTPC AAA 3.42%HDB Financial Services AAA 1.87%Larsen & Toubro AAA 1.80%Kotak Mahindra Prime AAA 1.15%Sundaram Finance AAA 0.64%M&M Financial Services AAA 0.13%Export Import Bank of India AAA 0.04%Certificate of Deposit 3.74%Axis Bank A1+ 2.97%ICICI Bank A1+ 0.77%PTC 0.71%First Business Receivables Trust^ AAA(SO) 0.71%Net Cash and Cash Equivalent 2.98%Grand Total 100.00%




SinceInception

IDFC Bond Fund – Short Term Plan* 9.88% 7.36% 7.76% 7.65% 10,988 12,373 14,537 40,982

NIFTY AAA Short Duration Bond Index# 10.44% 7.43% 8.10% NA 11,044 12,400 14,770 NA

CRISIL 1 Year T-Bill## 7.25% 6.70% 7.08% 6.40% 10,725 12,149 14,082 32,767

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Dec 14, 2000.

Riskometer



To generate optimal returns over short to medium • term.Investments in Debt & Money Market securities • such that the Macaulay duration of the portfolio is between 1 year and 3 years.


Maturity Bucket Asset Quality

% NAV

20.01

61.77

18.22

0 10 20 30 40 50 60 70

Upto 1 year

1-3 years

Above 3 years


Asset Allocation

Core Bucket


32

IDFC Bond Fund – Medium Term Plan(previously known as IDFC Super Saver Income Fund – Medium Term Plan)An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 years and 4 years31st January 2020


About the Fund: The fund is positioned in the short term fund category and invests in a mix of debt and money market instruments. MT is best suited for investors who want moderate participation as it offers lower volatility along with benefit from potential fall in interest rates.

Category: Medium Duration



Inception Date: 8 July 2003

Fund Manager: Mr. Suyash Choudhary (w.e.f. 15th September 2015)

Other Parameter:





Expense Ratio

Regular 1.44%Direct 0.76%

Benchmark: NIFTY AAA Medium Duration Bond Index (with effect from November 11, 2019)






Option Available: Growth, Dividend - Daily, Fortnightly (Payout & Reinvestment), Monthly, Bi - Monthly (once in two months), Quarterly & Periodic

Exit Load: NIL (w.e.f. 15th January 2019)

NAV (`)

Plan Option Freq NAVRegular Plan Growth - 33.5177Regular Plan Dividend BiMonthly 11.9011Regular Plan Dividend Fortnightly 10.2344Regular Plan Dividend Monthly 10.1617Regular Plan Dividend Daily 10.2001Regular Plan Dividend Quarterly 11.0305Regular Plan Dividend Periodic 15.3057


Government Bond 60.30%7.17% - 2028 G-Sec SOV 26.40%7.32% - 2024 G-Sec SOV 18.39%7.27% - 2026 G-Sec SOV 14.99%7.35% - 2024 G-Sec SOV 0.53%Corporate Bond 36.70%Reliance Industries AAA 11.36%Power Finance Corporation AAA 9.90%LIC Housing Finance AAA 8.16%REC AAA 3.12%HDFC AAA 1.95%NABARD AAA 1.18%Bajaj Finance AAA 0.85%Indian Railway Finance Corporation AAA 0.18%PTC 1.34%First Business Receivables Trust AAA(SO) 1.34%State Government Bond 0.07%8.37% Tamil Nadu SDL - 2028 SOV 0.07%8.25% Andhra PradeshSDL - 2023 SOV 0.001%8.68% Gujarat SDL - 2023 SOV 0.0001%Net Cash and Cash Equivalent 1.59%Grand Total 100.00%




SinceInception

IDFC Bond Fund – Medium Term Plan* 9.52% 6.84% 7.53% 7.57% 10,952 12,195 14,382 33,518

NIFTY AAA Medium Duration Bond Index# 11.90% 7.05% 8.17% 7.80% 11,190 12,266 14,816 34,746

1 Year T-Bill## 7.25% 6.70% 7.08% 6.09% 10,725 12,149 14,082 26,625

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Jul 08, 2003. Gsec/SDL yields have been annualized wherever applicable

Riskometer



To generate optimal returns over medium term.• Investments in Debt & Money Market securities • such that the Macaulay duration of the portfolio is between 3 years and 4 years.


Asset Quality


Asset Allocation

Maturity Bucket

% NAV

2.88

30.64

66.48

0 10 20 30 40 50 60 70

Upto 1 year

1-3 years

Above 3 years

Core Bucket


33




SinceInception

IDFC Credit Risk Fund* 9.30% NA NA 6.99% 10,930 NA NA 12,177

65% NIFTY AA Short Duration Bond Index + 35% NIFTY AAA Short Duration Bond Index#

9.74% NA NA 7.69% 10,974 NA NA 12,411

1 Year T-Bill## 7.25% NA NA 6.74% 10,725 NA NA 12,093

The scheme has been in existence for more than 1 year but less than 3 years.Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Mar 3, 2017.

IDFC Credit Risk Fund(previously known as IDFC Credit Opportunities Fund)An open ended debt scheme predominantly investing in AA and below rated corporate bonds31st January 2020


About the Fund: IDFC Credit Risk Fund aims to provide an optimal risk-reward profile to investors by focusing on companies with well-run management and evolving business prospects or good businesses with improving financial profile.

Category: Credit Risk




Fund Manager: Mr. Arvind Subramanian (w.e.f. 03rd March 2017)

Other Parameter:





Expense Ratio

Regular 1.49%

Direct 0.66%

Benchmark: 65% NIFTY AA Short Duration Bond Index + 35% NIFTY AAA Short Duration Bond Index (with effect from November 11, 2019)

SIP (Minimum Amount): ` 1,000/-





Option Available: Growth & Dividend (Payout, Reinvestment & Sweep facility)

Exit Load: 1% if redeemed/switched out within 365 days from the date of allotment

NAV (`)




Regular Plan Dividend Annual 10.8704

Regular Plan Dividend Half Yearly

10.4451



Corporate Bond 77.70%Hindalco Industries AA 8.24%IndusInd Bank AA 7.27%Bank of Baroda AA 6.45%Tata Steel AA- 6.34%Indian Railway Finance Corporation AAA 5.71%HDFC AAA 4.88%Tata Housing Development Company AA 4.80%Axis Bank AA+ 4.19%Tata Power Company AA 3.85%Afcons Infrastructure AA 3.49%Reliance Industries AAA 3.38%NABARD AAA 3.33%Walwhan Renewable Energy* AA(CE) 3.17%National Highways Auth of Ind AAA 2.95%LIC Housing Finance AAA 2.90%Tata Steel AA 1.95%Tata Motors AA- 1.61%Tata Power Renewable Energy* AA(CE) 1.60%Mahindra Rural Housing Finance AA+ 0.96%REC AAA 0.65%Zero Coupon Bond 6.50%Aditya Birla Fashion and Retail AA 6.50%PTC 4.86%First Business Receivables Trust AAA(SO) 4.86%Net Cash and Cash Equivalent^ 10.94%Grand Total 100.00%

Riskometer

Investors understand that their principal will be at Moderate risk


To generate optimal returns over medium to • long term.To predominantly invest in a portfolio of • corporate debt securities across the credit spectrum.


Asset Quality

Asset Allocation

Maturity Bucket

% NAV

21.05

61.19

17.76

0 10 20 30 40 50 60 70

Upto 1 year

1-3 years

Above 3 years

Satellite Bucket

*Corporate Guarantee from Tata Power^PTC originated by Reliance Industries Limited

34

IDFC Bond Fund – Income Plan(The fund has been repositioned to Medium to Long Term category w.e.f. July 12, 2018)(previously known as IDFC Super Saver Income Fund – Investment Plan)An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years 31st January 2020


About the Fund: An actively managed bond fund which seeks to invest in highly rated money market and debt instruments (including government securities) and aims to generate stable long term returns through mix of accrual income and capital appreciation.

Category: Medium to Long Duration



Inception Date: 14 July 2000

Fund Manager: Mr. Suyash Choudhary (Since 15th October 2010)

Other Parameter:





Expense Ratio

Regular 1.90%

Direct 1.28%

Benchmark: CRISIL Composite Bond Fund Index






Option Available: Growth, Dividend - Quarterly, Half Yearly, Annual & Periodic

Exit Load: If redeemed/switched out within 365 days from the date of allotment: For 10% of investment : Nil, For remaining investment : 1%

If redeemed/switched out after 365 days from the date of allotment: Nil

NAV (`)

Plan Option Freq NAVRegular Plan Dividend Quarterly 11.9062Regular Plan Growth - 48.3331Regular Plan Dividend Annual 12.3573Regular Plan Dividend Half

Yearly11.7827



Government Bond 97.66%7.57% - 2033 G-Sec SOV 52.82%7.27% - 2026 G-Sec SOV 38.09%7.17% - 2028 G-Sec SOV 6.70%7.73% - 2034 G-Sec SOV 0.06%Corporate Bond 0.80%REC AAA 0.80%Net Cash and Cash Equivalent 1.53%Grand Total 100.00%




SinceInception

IDFC Bond Fund – Income Plan* 10.91% 6.46% 7.28% 8.39% 11,091 12,066 14,214 48,333

CRISIL Composite Bond Fund Index# 11.33% 6.92% 8.32% NA 11,133 12,223 14,919 NA

10 Year GOI## 10.84% 5.04% 7.33% NA 11,084 11,589 14,247 NA

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Jul 14, 2000. Gsec/SDL yields have been annualized wherever applicable

Riskometer



To generate optimal returns over Long term.• Investments in Debt & Money Market securities • such that the Macaulay duration of the portfolio is between 4 years and 7 years



Asset Allocation

% NAV

1.53

0.00

0.00

45.59

52.88

0 10 20 30 40 50 60

Upto 1 year

1-3 years

3-5 years

5-10 years

Above 10 years

AAA Equivalent

100.00%

AAA mfs

by ICRA

Satellite Bucket

35

IDFC Dynamic Bond FundAn open ended dynamic debt scheme investing across duration

31st January 2020


About the Fund: The fund is positioned in the Dynamic Bond Fund category to take exposure across the curve depending upon the fund manager’s underlying interest rate view where we employ the majority of the portfolio. It is a wide structure and conceptually can go anywhere on the curve. The fund plays the trade of the season which we think will sustain for a longer period of time.

Category: Dynamic Bond




Fund Manager: Mr. Suyash Choudhary (Since 15th October 2010)

Other Parameter:





Expense Ratio

Regular 1.79%

Direct 0.99%

Benchmark: CRISIL Composite Bond Fund Index






Option Available: Growth, Dividend - Quarterly (March, June, September & December), Half Yearly, Annual, Regular & Periodic

Exit Load: Nil (w.e.f. 17th October 2016)

NAV (`)

Plan Option Freq NAVRegular Plan Growth - 24.3271Regular Plan Dividend - 12.4783Regular Plan Dividend Quarterly 11.2404Regular Plan Dividend Annual 11.8419Regular Plan Dividend Half

Yearly10.6555





SinceInception

IDFC Dynamic Bond Fund* 11.50% 6.84% 7.59% 8.29% 11,150 12,195 14,419 24,327

CRISIL Composite Bond Fund Index# 11.33% 6.92% 8.32% 8.18% 11,133 12,223 14,919 24,061

10 Year GOI## 10.84% 5.04% 7.33% 6.11% 11,084 11,589 14,247 19,394

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc. Standard Deviation calculated on the basis of 1 year history of monthly dataFor other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages #Benchmark Returns. ##Alternate Benchmark Returns. *Inception Date of Regular Plan - Growth Dec 03, 2008. Gsec/SDL yields have been annualized wherever applicable

Riskometer



To generate long term optimal returns by active • management.Investments in money market & debt • instruments including G-Sec across duration.



Asset Allocation

AAA Equivalent100.00%% NAV

1.05

0.00

0.00

11.86

87.09

0 20 40 60 80 100

Upto 1 year

1-3 years

3-5 years

5-10 years

Above 10 years


Government Bond 98.95%7.57% - 2033 G-Sec SOV 84.16%7.26% - 2029 G-Sec SOV 7.68%7.17% - 2028 G-Sec SOV 4.18%7.88% - 2030 G-Sec SOV 2.93%8.20% - 2025 G-Sec SOV 0.01%Net Cash and Cash Equivalent 1.05%Grand Total 100.00%

AAA mfs

by ICRASatellite Bucket

36

IDFC Government Securities Fund - Constant Maturity Plan(previously known as IDFC Government Securities Fund – Short Term Plan)An open ended debt scheme investing in government securities having a constant maturity of 10 years31st January 2020


About the Fund: The fund is a mix of government bonds,

state development loans (SDLs), treasury bills and/or

cash management bills. The fund will predominantly have

an average maturity of 10 years.

Category: Gilt Fund with 10 year constant duration




Fund Manager:

Mr. Harshal Joshi (w.e.f. 15th May 2017)

Other Parameter:





Expense Ratio

Regular 0.54%

Direct 0.40%

Benchmark: CRISIL 10 year Gilt Index (w.e.f. 28th

May 2018)





Minimum Investment Amount: ` 5,000/- and any

amount thereafter

Option Available: Growth, Dividend - Weekly,

Monthly, Quarterly & Periodic.

Exit Load: Nil. Yields for GSec/SDLs have been

annualized wherever applicable.

NAV (`)

Plan Option Freq NAVRegular Plan Growth - 31.9509


Regular Plan Dividend Annual N.A





Government Bond 95.91%

7.88% - 2030 G-Sec SOV 41.29%

7.57% - 2033 G-Sec SOV 33.15%

7.59% - 2029 G-Sec SOV 14.71%

6.57% - 2033 G-Sec SOV 6.76%


Grand Total 100.00%




SinceInception

IDFC Government Securities Fund - Constant Maturity Plan*^

14.93% 10.58% 9.95% 6.70% 11,493 13,523 16,076 31,951

CRISIL 10 year Gilt Index# 10.84% 8.27% 8.47% NA 11,084 12,693 15,025 NA

CRISIL 1 Year T-Bill## 7.25% 6.70% 7.08% 6.10% 10,725 12,149 14,082 28,875

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future. The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages. #Benchmark Returns. ##Alternate Benchmark Returns. *Inception Date of Regular Plan - Growth Mar 09, 2002. Standard Deviation calculated on the basis of 1 year history of monthly data Gsec/SDL yields have been annualized wherever applicable^The fund is repositioned w.e.f. May 28, 2018ßCurrent Index performance adjusted for the period from since inception to May 28, 2018 with the performance of I-Sec Si Bex (Benchmark)

Riskometer



To generate optimal returns over long term.• Investments in Government Securities such that • the average maturity of the portfolio is around 10 years.


Asset Allocation


% NAV

4.09

0.00

0.00

14.71

81.20

0 20 40 60 80 100

Upto 1 year

1-3 years

3-5 years

5-10 years

Above 10 years

Satellite Bucket

37

PORTFOLIO


Government Bond 98.52%

7.57% - 2033 G-Sec SOV 90.55%

7.88% - 2030 G-Sec SOV 7.96%

7.17% - 2028 G-Sec SOV 0.01%


Grand Total 100.00%




SinceInception

IDFC Government Securities Fund – IP*

13.71% 7.71% 8.18% 8.41% 11,371 12,497 14,824 24,646

CRISIL Dynamic Gilt Index# 10.66% 6.19% 7.82% 7.49% 11,066 11,973 14,580 22,408

CRISIL 10 Year GOI## 10.84% 5.04% 7.33% 6.11% 11,084 11,589 14,247 19,394

Performance based on NAV as on 31/01/2020 Past performance may or may not be sustained in future.The performances given are of regular plan growth option.Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.For other funds managed by the fund manager, please refer page no. 38 - 40 & the respective fund pages#Benchmark Returns. ##Alternate Benchmark Returns. Standard Deviation calculated on the basis of 1 year history of monthly data *Inception Date of Regular Plan - Growth Dec 03, 2008. Gsec/SDL yields have been annualized wherever applicable


Asset Allocation

Sovereign100.00%% NAV

1.48

0.00

0.00

0.01

98.51

0 10 20 30 40 50 60 70 80 90100110

Upto 1 year

1-3 years

3-5 years

5-10 years

Above 10 years

IDFC Government Securities Fund – Investment Plan(Government Securities Fund PF has been merged into Government Securities Fund IP w.e.f. May 7, 2018)An open ended debt scheme investing in government securities across maturities31st January 2020

FUND FEATURES

About the Fund: A dedicated gilt fund with an

objective to generate optimal returns with high

liquidity by investing in Government Securities.

Category: Gilt




Fund Manager:

Mr. Suyash Choudhary (Since 15th October 2010)

Other Parameter:





Asset Quality

Sovereign 100.00%

Expense Ratio


Benchmark: CRISIL Dynamic Gilt Index (w.e.f. 01 February 2019)





Minimum Investment Amount: ` 5,000/- and any

amount thereafter

Option Available: Growth, Dividend - Quarterly,

Half Yearly, Annual, Regular & Periodic

Exit Load: Nil (w.e.f. 15th July 2011)

NAV (`)

Plan Option Freq NAVRegular Plan Dividend - 12.8520Regular Plan Growth - 24.6463Regular Plan Dividend Quarterly 11.4965Regular Plan Dividend Annual 11.9205Regular Plan Dividend Half

Yearly11.0854


Riskometer



To generate long term optimal returns.• Investments in Government Securities across • maturities.


Satellite Bucket

38

Period 1 Year 3 Years 5 Years

ManagingSince

BenchmarkIndex

SchemeReturn (%)

BenchmarkReturn (%)

SchemeReturn (%)

BenchmarkReturn (%)

SchemeReturn (%)

BenchmarkReturn (%)

Fund Manager Name: Mr. Anoop Bhaskar

IDFC Core Equity Fund30-04-

2016NIFTY LargeMidcap 250 TRI 10.06% 11.22% 9.22% 11.62% 8.03% 9.11%

IDFC Multi Cap Fund30-04-

2016S&P BSE 500 TRI 14.20% 10.80% 9.84% 11.66% 7.05% 7.97%

IDFC Sterling Value Fund1 30-04-2016

S&P BSE 400 MidSmallCap TRI

3.14% 9.56% 7.87% 7.42% 5.96% 8.14%

IDFC Hybrid Equity Fund4 30-12-201665% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index

7.85% 8.87% 5.42% 10.15% NA NA

IDFC Equity Opportunity - Series 5 16-03-2018 S&P BSE 500 TRI 11.74% 10.80% NA NA NA NA


Mr. Anoop Bhaskar manages 6 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Anurag Mittal

IDFC Regular Savings Fund 09-11-201515% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index

8.30% 10.01% 5.88% 8.15% 6.65% 7.99%

IDFC Cash Fund 09-11-2015 CRISIL Liquid Fund Index 6.16% 6.68% 6.70% 7.01% 7.18% 7.31%

IDFC Low Duration Fund6 09-11-2015NIFTY Low Duration Debt Index

8.26% 8.05% 7.46% 7.43% 7.96% 7.82%

IDFC Money Manager Fund7 09-11-2015 NIFTY Money Market Index 6.49% 6.93% 6.22% 7.02% 7.02% 7.44%

IDFC Banking & PSU Debt Fund

15-05-2017NIFTY Banking & PSU Debt Index

11.56% 10.00% 8.14% 6.86% 8.15% 7.68%

IDFC Corporate Bond Fund 12-01-2016NIFTY AAA Short Duration Bond Index

8.31% 10.44% 6.77% 7.43% NA NA

IDFC Hybrid Equity Fund4 30-12-201665% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index

7.85% 8.87% 5.42% 10.15% NA NA

IDFC Fixed Term Plan - Series 149

04-06-2018

CRISIL Composite Bond Fund Index 7.45% 11.33% NA NA NA NA


22-06-2018


IDFC Fixed Term Plan - Series 154 27-06-2018 CRISIL Composite Bond

Fund Index 10.35% 11.33% NA NA NA NA




20-07-2018



09-08-2018



29-08-2018








Mr. Anurag Mittal manages 23 schemes of IDFC Mutual Fund£.

Performance Table (Others Funds Managed by the Fund Managers)

Performance based on NAV as on 31/01/2020 Past Performance may or may not be sustained in futureThe performance details provided herein are of regular plan growth option. Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.With effect from 1st February 2018, we are comparing the performances of the funds with the total return variant of the benchmark instead of the price return variant**The benchmark has been changed from CRISIL Liquid Fund Index to Nifty 50 Arbitrage Index w.e.f. April 01, 2018.£The performances of IDFC Fixed Term Plan – Series 176, 177, 178, 179, 180 and 181 which have not completed a year, have not been shown here.1The fund has been repositioned from a mid cap fund to a value fund w.e.f. May 28, 2018.2The fund has been repositioned from an IPO fund to a large cap fund w.e.f. April 18, 20174The fund has been repositioned from Balanced category to Aggressive Hybrid category w.e.f. April 30, 2018.6The fund has been repositioned from an ultra short term fund to a low duration fund w.e.f. may 28, 2018. 7The fund has been repositioned from a floating rate fund to a money market fund w.e.f. June 4, 2018. §Current Index performance adjusted for the period from since inception to June 28, 2007 with the performance of S&P BSE 100 price return index (Benchmark)

39


ManagingSince

BenchmarkIndex

SchemeReturn (%)

BenchmarkReturn (%)

SchemeReturn (%)

BenchmarkReturn (%)

SchemeReturn (%)

BenchmarkReturn (%)

Fund Manager Name: Mr. Arpit Kapoor

IDFC Large Cap Fund2§ 01-03-2017 S&P BSE 100 TRI 10.49% 10.58% 11.08% 12.24% 5.91% 7.07%

IDFC Dynamic Equity Fund 01-03-201750% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index

11.14% 9.17% 8.83% 9.61% 5.65% 7.77%

IDFC Nifty Fund 01-03-2017 Nifty 50 TRI 11.24% 11.84% 12.81% 13.29% 7.19% 7.67%

IDFC Arbitrage Fund 01-03-2017 Nifty 50 Arbitrage Index** 6.17% 6.62% 6.06% 5.27% 6.29% 5.92%

IDFC Asset Allocation Fund of Fund - Aggressive Plan^5 18-04-2018

65% S&P BSE 200 TRI + 30% CRISIL Short Term Index + 5% Gold Prices

8.48% 12.38% 6.72% 11.11% 5.76% 8.73%

IDFC Asset Allocation Fund of Fund - Conservative Plan^5 18-04-2018


8.92% 13.80% 6.99% 8.65% 7.19% 8.92%

IDFC Asset Allocation Fund of Fund - Moderate Plan^5 18-04-2018


9.03% 13.02% 6.94% 7.89% 6.72% 8.46%

Mr. Arpit Kapoor manages 7 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Arvind Subramanian


11.14% 9.17% 8.83% 9.61% 5.65% 7.77%

IDFC Credit Risk Fund 03-03-2017

65% NIFTY AA Short Dura-tion Bond Index + 35% NIFTY AAA Short Duration Bond Index

9.30% 9.74% NA NA NA NA

Mr. Arvind Subramanian manages 2 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Daylynn Pinto

IDFC Tax Advantage (ELSS) Fund 20-10-2016 S&P BSE 200 TRI 7.83% 11.15% 10.43% 12.25% 7.56% 8.09%

IDFC Sterling Value Fund1 20-10-2016 S&P BSE 400 MidSmallCap TRI 3.14% 9.56% 7.87% 7.42% 5.96% 8.14%

Mr. Daylynn Pinto manages 2 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Harshal Joshi


IDFC All Seasons Bond Fund 15-07-2016 NIFTY AAA Short Duration Bond Index 10.59% 10.44% 7.48% 7.43% 7.90% 8.10%

IDFC Government Securities Fund - Constant Maturity Plan8ß 15-05-2017 CRISIL 10 year Gilt Index 14.93% 10.84% 10.58% 8.27% 9.95% 8.47%

IDFC Cash Fund 15-09-2015 CRISIL Liquid Fund Index 6.16% 6.68% 6.70% 7.01% 7.18% 7.31%

IDFC Money Manager Fund7 09-11-2015 NIFTY Money Market Index 6.49% 6.93% 6.22% 7.02% 7.02% 7.44%

IDFC Ultra Short Term Fund 18-07-2018 NIFTY Ultra Short Duration Debt Index 7.79% 7.60% NA NA NA NA

IDFC Equity Savings Fund3¥ 20-10-2016 30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index 7.20% 8.28% 4.72% 6.65% 5.47% 7.09%

IDFC Yearly Series Interval Fund - Series II 12-02-2013 CRISIL Short-Term Bond

Fund Index 7.90% 9.92% 7.36% 7.45% 7.81% 8.13%




30-03-2017








Mr. Harshal Joshi manages 13 schemes of IDFC Mutual Fund.


Performance based on NAV as on 31/01/2020 Past Performance may or may not be sustained in futureThe performance details provided herein are of regular plan growth option. Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.**The benchmark has been changed from CRISIL Liquid Fund Index to Nifty 50 Arbitrage Index w.e.f. April 01, 2018.^Current Index performance adjusted for the period from since inception to May 28, 2018 with the performance of CRISIL Hybrid 85+15 Conservative Index (Benchmark) and CRISIL Hybrid 35+65 - Aggressive Index (Benchmark)

1The fund has been repositioned from a mid cap fund to a value fund w.e.f. May 28, 2018.2The fund has been repositioned from an IPO fund to a large cap fund w.e.f. April 18, 20175The fund has been repositioned w.e.f. May 28, 2018 and since will invest only in the schemes of IDFC Mutual Funds.7The fund has been repositioned from a floating rate fund to a money market fund w.e.f. June 4, 2018.8The fund is repositioned w.e.f. May 28, 2018¥Current Index performance adjusted for the period from since inception to April 30, 2018 with the performance of CRISIL Liquid Fund Index (Benchmark)ßCurrent Index performance adjusted for the period from since inception to May 28, 2018 with the performance of I-Sec Si Bex (Benchmark)

40


ManagingSince

BenchmarkIndex

SchemeReturn (%)

BenchmarkReturn (%)

SchemeReturn (%)

BenchmarkReturn (%)

SchemeReturn (%)

BenchmarkReturn (%)

Fund Manager Name: Mr. Rajendra Kumar Mishra

IDFC Infrastructure Fund 27-06-2013 S&P BSE India Infrastructure TRI 6.87% -2.39% 2.38% -2.05% 4.28% 0.74%

IDFC Equity Savings Fund3^ 01-03-2017 30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index 7.20% 8.28% 4.72% 6.65% 5.47% 7.09%


Mr. Rajendra Kumar Mishra manages 3 scheme of IDFC Mutual Fund.

Fund Manager Name: Mr. Sumit Agrawal

IDFC Large Cap Fund2§ 01-03-2017 S&P BSE 100 TRI 10.49% 10.58% 11.08% 12.24% 5.91% 7.07%


11.14% 9.17% 8.83% 9.61% 5.65% 7.77%

IDFC Nifty Fund 01-03-2017 Nifty 50 TRI 11.24% 11.84% 12.81% 13.29% 7.19% 7.67%

IDFC Focused Equity Fund 20-10-2016 S&P BSE 500 TRI 11.99% 10.80% 12.54% 11.66% 6.44% 7.97%

IDFC Regular Savings Fund 20-10-201615% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index

8.30% 10.01% 5.88% 8.15% 6.65% 7.99%



Mr. Sumit Agrawal manages 7 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Suyash Choudhary

IDFC Bond Fund – Short Term Plan

11-03-2011NIFTY AAA Short Duration Bond Index

9.88% 10.44% 7.36% 7.43% 7.76% 8.10%

IDFC Bond Fund – Medium Term Plan

15-09-2015NIFTY AAA Medium Duration Bond Index

9.52% 11.90% 6.84% 7.05% 7.53% 8.17%

IDFC Bond Fund – Income Plan 15-10-2010CRISIL Composite Bond Fund Index

10.91% 11.33% 6.46% 6.92% 7.28% 8.32%

IDFC Dynamic Bond Fund 15-10-2010CRISIL Composite Bond Fund Index

11.50% 11.33% 6.84% 6.92% 7.59% 8.32%

IDFC Government Securities Fund – Investment Plan@ 15-10-2010 CRISIL Dynamic Gilt Index 13.71% 10.66% 7.71% 6.19% 8.18% 7.82%

Mr. Suyash Choudhary manages 5 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Yogik Pitti


IDFC Equity Savings Fund3¥ 27-06-201330% Nifty 50 TRI + 70% CRISIL Liquid Fund Index

7.20% 8.28% 4.72% 6.65% 5.47% 7.09%

IDFC Sensex ETF 07-10-2016 S&P BSE Sensex TRI 13.30% 13.59% 14.96% 15.16% NA NA

IDFC Nifty ETF 07-10-2016 Nifty 50 TRI 11.54% 11.84% 13.03% 13.29% NA NA

Mr. Yogik Pitti manages 4 schemes of IDFC Mutual Fund.

Fund Manager Name: Mr. Brijesh Shah

IDFC Overnight Fund 01-02-2019 NIFTY 1D Rate Index 5.46% 5.61% NA NA NA NA

Mr. Brijesh Shah manages 1 schemes of IDFC Mutual Fund.

Performance based on NAV as on 31/01/2020 Past Performance may or may not be sustained in future.The performance details provided herein are of regular plan growth option. Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc.^Current Index performance adjusted for the period from since inception to April 8, 2015 with the performance of CRISIL Short Term Bond fund index (Benchmark) & 1 year T Bill Index (Alternate Benchmark). ^^Current Index performance adjusted for the period from since inception to April 6, 2015 with the performance of CRISIL Short Term Bond fund index (Benchmark) & 1 year T Bill Index (Alternate Benchmark) . ^^^Current Index performance adjusted for the period from since inception to April 20, 2015 with the performance of CRISIL Short Term Bond fund index (Benchmark) & 1 year T Bill Index (Alternate Benchmark).**The benchmark has been changed from CRISIL Liquid Fund Index to Nifty 50 Arbitrage Index w.e.f. April 01, 2018.3The fund has been repositioned from an arbitrage fund to an equity savings fund w.e.f. April 30, 2018.¥Current Index performance adjusted for the period from since inception to April 30, 2018 with the performance of CRISIL Liquid Fund Index (Benchmark)@The benchmark has been changed from I-Sec Composite Index to CRISIL Dynamic Gilt Index* w.e.f. February 01, 2019.§Current Index performance adjusted for the period from since inception to June 28, 2007 with the performance of S&P BSE 100 price return index (Benchmark)


ICRA Credit Risk RatingIDFC MMF, IDFC BF-ST, BF-MT, IDFC CBF, IDFC BF-IP, IDFC DBF : “Credit Risk Rating AAAmfs” - The Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest credit- quality category.IDFC Cash fund, IDFC LDF: “Credit Risk Rating A1+mfs” - The highest-credit-quality short-term rating assigned by ICRA to debt funds. Debt funds rated in this category carry the low-est credit risk in the short term and are similar to that of fixed income obligations of highest credit- quality category with maturity of upto one year. This rating should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.Source: ICRA Ltd.FITCH Credit Quality RatingIDFC Cash fund: “IND A1+ mfs” - Schemes with this rating are considered to have very strong degree of safety regarding timely receipt of payments from the investments that they have made.

41

IDFC Core Equity Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionAug 09, 2005



Fund Returns (%) 11.85 4.78 8.20 10.21 10.39 9.92

Total Value of NIFTY LargeMidcap 250 TRI# 1,28,097 3,97,963 7,67,509 13,19,858 23,38,093 46,75,351

NIFTY LargeMidcap 250 TRI (%)# 12.70 6.61 9.78 12.68 12.79 12.63


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.23

SIP PerformanceMonthly SIP of `10,000

IDFC Sterling Value Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionMar 07, 2008



Fund Returns (%) 4.55 -1.09 5.14 9.75 11.40 13.55

Total Value of S&P BSE 400 MidSmallCap TRI# 1,30,362 3,70,268 7,08,298 12,59,226 21,57,268 30,56,526

S&P BSE 400 MidSmallCap TRI (%)$ 16.33 1.83 6.57 11.36 11.28 12.07


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.48

IDFC Multi Cap Fund -Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionSep 28, 2005



Fund Returns (%) 15.83 6.17 7.38 11.38 13.06 15.75


S&P BSE 500 TRI (%)# 9.68 6.98 9.49 11.33 11.35 11.34


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.17

IDFC Focused Equity Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionMar 16, 2006



Fund Returns (%) 18.02 5.65 8.76 9.82 9.40 9.63


S&P BSE 500 TRI (%)# 9.68 6.98 9.49 11.33 11.35 11.21


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.00

IDFC Large Cap Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJun 09, 2006



Fund Returns (%) 11.59 7.13 8.67 9.42 9.60 9.47


S&P BSE 100 TRI (%)# 8.12 8.12 10.01 11.16 11.22 11.14


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.01

IDFC Nifty - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionApr 30, 2010



Fund Returns (%) 8.01 8.88 10.07 10.77 NA 10.79

Total Value of Nifty 50 TRI# 1,25,466 4,14,240 7,82,189 12,54,471 NA 20,89,066

Nifty 50 TRI (%)# 8.52 9.32 10.54 11.26 NA 11.19

Past performance may or may not be sustained in future.Dividends are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration. To illustrate the advantages of SIP investment, this is how your investment would have grown if you had invested say `10,000 systematically on the first business Day of every month over a period of time. Returns are calculated by using XIRR approach. XIRR helps in calculating return on investment given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. The performances given are of regular plan growth option. Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc. #Benchmark Returns. ##Alternate Benchmark Returns. Data as on January 31, 2020.

42

IDFC Infrastructure Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionMar 08, 2011



Fund Returns (%) 2.32 -4.79 2.30 6.21 NA 6.12

Total Values of S&P BSE India Infrastructure TRI# 1,13,443 3,16,931 5,85,729 9,30,307 NA 13,30,446

S&P BSE India Infrastructure TRI (%)# -9.94 -8.09 -0.95 2.88 NA 4.79

Total Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 NA 18,23,069

Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 NA 11.58


Tax Advantage (ELSS) Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionDec 26, 2008



Fund Returns (%) 6.63 2.94 7.25 11.14 12.53 13.29


S&P BSE 200 TRI (%)# 9.38 7.88 9.98 11.54 11.54 12.13

Total Value of NIFTY 50 TRI## 1,25,466 4,14,240 7,82,189 12,54,471 21,43,556 26,46,664

NIFTY 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.62

IDFC Arbitrage Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionDec 21, 2006



Fund Returns (%) 5.78 6.10 6.10 6.42 6.93 6.93

Total Value of Nifty 50 Arbitrage Index#$ 1,23,907 3,92,698 6,91,126 10,39,724 NA NA

Nifty 50 Arbitrage Index Returns (%)#$ 6.07 5.72 5.59 6.00 NA NA


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 10.98

IDFC Equity Savings Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJun 09, 2008



Fund Returns (%) 7.44 5.07 5.18 5.61 6.20 6.27

Total Value of 30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index# 1,22,823 3,96,260 7,10,227 10,81,247 17,63,895 21,97,373

30% Nifty 50 TRI + 70% CRISIL Liquid Fund Index Returns (%)# 4.37 6.33 6.68 7.10 7.48 7.44


Nifty 50 TRI (%)## 8.52 9.32 10.54 11.26 11.16 11.62

IDFC Dynamic Equity - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionOct 10, 2014

Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 NA NA 6,40,000 Total Value as on January 31, 2020 (`) 1,27,873 4,03,724 7,22,396 NA NA 7,77,673

Fund Returns (%) 12.34 7.58 7.36 NA NA 7.23

Total Value of 50% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index#$ 1,24,159 4,00,567 7,44,208 NA NA 8,05,532

50% S&P BSE 200 TRI + 50% NIFTY AAA Short Duration Bond Index Returns (%)# 6.46 7.05 8.54 NA NA 8.55

Total Value of Nifty 50 TRI## 1,25,466 4,14,240 7,82,189 NA NA 8,44,064 Nifty 50 TRI (%)## 8.52 9.32 10.54 NA NA 10.30

IDFC Hybrid Equity Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionDec 30, 2016

Total Amount Invested (`) 1,20,000 3,60,000 NA NA NA 3,80,000

Total Value as on January 31, 2020 (`) 1,24,868 3,78,053 NA NA NA 4,01,677

Fund Returns (%) 7.58 3.20 NA NA NA 3.45

Total Value of 65% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index#$ 1,23,681 3,98,664 NA NA NA 4,26,456

65% S&P BSE 200 TRI + 35% NIFTY AAA Short Duration Bond Index Returns (%)# 5.71 6.73 NA NA NA 7.23

Total Value of Nifty 50## 1,25,466 4,14,240 NA NA NA 4,44,668

Nifty 50 (%)## 8.52 9.32 NA NA NA 9.92

IDFC Regular Savings Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionFeb 25, 2010



Fund Returns (%) 7.80 6.08 6.62 7.65 NA 8.35

Total Value of 15% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index#$ 1,25,509 4,06,085 7,39,050 11,47,438 NA 19,10,963

15% S&P BSE 200 TRI + 85% NIFTY AAA Short Duration Bond Index Returns (%)$ 8.59 7.98 8.27 8.76 NA 9.00




43

IDFC All Seasons Bond Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionSep 13, 2004



Fund Returns (%) 9.87 8.49 8.04 8.17 8.21 8.00

Total Value of NIFTY AAA Short Duration Bond Index# 1,26,295 4,09,195 7,37,219 11,31,383 18,69,494 36,99,658

NIFTY AAA Short Duration Bond Index (%)# 9.83 8.49 8.17 8.37 8.58 8.45

Total Value of CRISIL 1 Year T-Bill Index## 1,24,384 4,00,715 7,15,044 10,81,442 17,30,624 31,79,636

CRISIL 1 Year T-Bill Index Returns (%)## 6.82 7.08 6.95 7.10 7.11 6.67


IDFC Cash Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJun 04, 2008



Fund Returns (%) 5.70 6.56 6.80 7.18 7.64 7.65

Total Value of CRISIL Liquid Fund Index# 1,24,064 4,00,125 7,17,319 10,92,201 17,81,945 22,20,026

CRISIL Liquid Fund Index Returns (%)# 6.30 6.97 7.07 7.38 7.67 7.60



IDFC Low Duration Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJan 17, 2006



Fund Returns (%) 7.75 7.71 7.74 8.00 8.35 8.09

Total Value of NIFTY Low Duration Debt Index# 1,24,908 4,04,374 7,27,612 11,11,901 18,30,115 31,36,266

NIFTY Low Duration Debt Index Returns (%)# 7.68 7.71 7.65 7.89 8.18 8.32



IDFC Money Manager Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionFeb 18, 2003



Fund Returns (%) 6.01 6.32 6.57 6.96 7.33 7.12

Total Value of NIFTY Money Market Index# 1,24,220 4,00,732 7,19,182 10,96,895 18,02,539 41,89,262

NIFTY Money Market Index Returns (%)# 6.56 7.08 7.18 7.50 7.89 7.91



IDFC Banking & PSU Debt Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionMar 07, 2013

Total Amount Invested (`) 1,20,000 3,60,000 6,00,000 NA NA 8,30,000

Total Value as on January 31, 2020 (`) 1,26,722 4,14,644 7,42,996 NA NA 11,14,518

Fund Returns (%) 10.51 9.39 8.48 NA NA 8.39

Total Value of NIFTY Banking & PSU Debt Index# 1,25,114 4,02,666 7,22,797 NA NA 10,91,289

NIFTY Banking & PSU Debt Index Returns (%)# 9.36 7.83 7.63 NA NA 7.97

Total Value of CRISIL 1 Year T-Bill Index## 1,24,384 4,00,715 7,15,044 NA NA 10,65,247

CRISIL 1 Year T-Bill Index Returns (%)## 6.82 7.08 6.95 NA NA 7.10

IDFC Bond Fund – Short Term Plan - Regular Plan - Growth

1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionDec 14, 2000



Fund Returns (%) 9.26 8.28 7.88 8.01 8.14 7.84

Total Value of NIFTY AAA Short Duration Bond Index# 1,26,295 4,09,195 7,37,219 11,31,383 18,69,494 NA

NIFTY AAA Short Duration Bond Index Returns (%)# 9.83 8.49 8.17 8.37 8.58 NA




44

IDFC Corporate Bond Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJan 12, 2016

Total Amount Invested (`) 1,20,000 3,60,000 NA NA NA 4,90,000

Total Value as on January 31, 2020 (`) 1,24,922 4,02,660 NA NA NA 5,70,809

Fund Returns (%) 7.67 7.41 NA NA NA 7.42

Total Value of NIFTY AAA Short Duration Bond Index# 1,26,295 4,09,195 NA NA NA 5,79,950

NIFTY AAA Short Duration Bond Index Returns (%)# 9.83 8.49 NA NA NA 8.21

Total Value of CRISIL 1 Year T-Bill Index## 1,24,384 4,00,715 NA NA NA 5,65,143

CRISIL 1 Year T-Bill Index Returns (%)## 6.82 7.08 NA NA NA 6.93

IDFC Bond Fund – Medium Term Plan - Regular Plan - Growth

1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJuly 08, 2003



Fund Returns (%) 8.31 7.74 7.56 7.77 7.95 8.06

Total Value of NIFTY AAA Medium Duration Bond Index# 1,27,189 4,08,816 7,36,832 11,36,324 18,67,150 41,89,419

NIFTY AAA Medium Duration Bond Index Returns (%)# 11.25 8.43 8.15 8.49 8.56 8.38



IDFC Bond Fund – Income Plan - Regular Plan - Growth

1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionJul 14, 2000



Fund Returns (%) 8.83 8.09 7.76 8.12 8.34 8.00

Total Value of CRISIL Composite Bond Fund Index# 1,26,494 4,10,242 7,40,801 11,45,620 18,73,442 NA

CRISIL Composite Bond Fund Index Returns (%)# 10.15 8.67 8.36 8.72 8.62 NA

Total Value of CRISIL 10 Year Gilt Index## 1,25,543 4,05,335 7,22,639 11,02,731 17,57,748 NA

CRISIL 10 Year Gilt Index Returns (%)## 8.65 7.85 7.37 7.65 7.41 NA

IDFC Dynamic Bond Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionDec 03, 2008



Fund Returns (%) 9.54 8.51 8.13 8.44 8.75 8.62

Total Value of CRISIL Composite Bond Fund Index# 1,26,494 4,10,242 7,40,801 11,45,620 18,73,442 21,90,473

CRISIL Composite Bond Fund Index Returns (%)# 10.15 8.67 8.36 8.72 8.62 8.47

Total Value of CRISIL 10 Year Gilt Index## 1,25,543 4,05,335 7,22,639 11,02,731 17,57,748 20,25,193

CRISIL 10 Year Gilt Index Returns (%)## 8.65 7.85 7.37 7.65 7.41 7.15

IDFC G Sec Fund - Investment Plan - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionDec 03, 2008



Fund Returns (%) 11.13 9.92 9.10 9.27 9.53 9.32

Total Value of I-Sec Composite Index# 1,25,658 4,08,425 7,33,759 11,33,249 18,56,229 21,63,003

I-Sec Composite Index Returns (%)# 8.83 8.37 7.98 8.41 8.45 8.26

Total Value of CRISIL 10 Year Gilt Index## 1,25,543 4,05,335 7,22,639 11,02,731 17,57,748 20,25,193

CRISIL 10 Year Gilt Index Returns (%)## 8.65 7.85 7.37 7.65 7.41 7.15


IDFC Government Securities Fund - Constant Maturity Plan - Regular Plan - Growth

1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionMar 09, 2002



Fund Returns (%) 12.17 12.42 10.99 10.72 10.12 7.80

Total Value of CRISIL 10 year Gilt Index# 1,25,543 4,05,335 7,22,639 11,02,731 17,57,748 40,72,092

CRISIL 10 year Gilt Index Returns (%)# 8.65 7.85 7.37 7.65 7.41 6.69




45


IDFC Asset Allocation Fund of Fund - Conservative Plan Regular Plan - Growth

1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionFeb 11, 2010



Fund Returns (%) 8.86 6.69 7.18 8.01 NA 8.46

Total Value of 15% S&P BSE 200 TRI + 80% CRISIL Short Term Index + 5% Gold Prices# 1,30,020 4,21,016 7,66,060 11,95,921 NA 19,75,726

15% S&P BSE 200 TRI + 80% CRISIL Short Term Index + 5% Gold Prices# 15.78 10.43 9.70 9.92 NA 9.63



IDFC Asset Allocation Fund of Fund - Moderate Plan Regular Plan - Growth




Fund Returns 9.49 5.87 6.80 8.00 NA 8.66

Total Value of 40% S&P BSE 200 TRI + 55% CRISIL Short Term Index + 5% Gold Prices# 1,28,761 4,13,801 7,51,685 11,72,625 NA 19,36,249




IDFC Asset Allocation Fund of Fund - Aggressive Plan Regular Plan - Growth




Fund Returns 9.41 4.34 5.98 7.71 NA 8.50

Total Value of 65% S&P BSE 200 + 30% CRISIL Short Term Index + 5% Gold Prices# 1,27,751 4,14,547 7,75,652 12,49,834 NA 21,25,868




IDFC Credit Risk Fund - Regular Plan - Growth 1 Year 3 Years 5 Years 7 Years 10 Years Since InceptionMar 03, 2017

Total Amount Invested (`) 1,20,000 NA NA NA NA 3,50,000

Total Value as on January 31, 2020 (`) 1,25,787 NA NA NA NA 3,90,813

Fund Returns 9.03 NA NA NA NA 7.50

Total Value of 65% NIFTY AA Short Duration Bond Index + 35% NIFTY AAA Short Duration Bond Index Index

1,22,008 NA NA NA NA 3,81,119

65% NIFTY AA Short Duration Bond Index + 35% NIFTY AAA Short Duration Bond Index Returns (%)## 3.11 NA NA NA NA 5.77

Total Value of CRISIL 1 Year T-Bill Index 1,24,384 NA NA NA NA 3,88,563

CRISIL 1 Year T-Bill Index Returns 6.82 NA NA NA NA 7.10


Date Plan Dividend NAV

IDFC Core Equity Fund

14-Mar-19 Regular Plan 0.09 15.4200


27-Feb-17 Regular Plan 1.18 15.0036

IDFC Sterling Value Fund




IDFC Multi Cap Fund




IDFC Focused Equity Fund


10-Nov-17 Regular Plan 2.00 15.6283

24-Jan-17 Regular Plan 1.00 12.1368

Dividend HistoryLast 3 Gross Dividends (`/unit) :


IDFC Large Cap Fund




IDFC Hybrid Equity Fund


13-Nov-17 Regular Plan 0.20 10.7448

22-Aug-17 Regular Plan 0.30 10.7588

IDFC Arbitrage Fund

28-Jan-20 Reg Plan Monthly 0.05 12.8022

27-Dec-19 Reg Plan Monthly 0.05 12.7924

28-Nov-19 Reg Plan Monthly 0.05 12.8178

15-Mar-19 Reg Plan Annually 0.58 11.0691




IDFC Equity Savings Fund







27-Dec-19 Reg Plan Quarterly 0.16 10.4600

24-Jun-19 Reg Plan Quarterly 0.14 10.4700

Date Plan Freq Dividend NAV

IDFC Tax Advantage Fund

27-Mar-19 Reg Plan - 0.42 16.7300

27-Sep-18 Reg Plan - 0.48 16.8600

09-Feb-18 Reg Plan - 0.68 18.6811

IDFC Regular Savings Fund

28-Jan-20 Reg Plan Dividend 0.0432 12.9685

27-Dec-19 Reg Plan Dividend 0.0432 12.9550

28-Nov-19 Reg Plan Dividend 0.0541 13.0432

46

Dividend HistoryLast 3 Gross Dividends (`/unit) :


IDFC Money Manager Fund







29-Aug-19 Reg Plan Monthly 0.0974 10.4915


25-Sep-19 Reg Plan Quarterly 0.3540 10.9922





22-Mar-17 Reg Plan - 0.7400 10.8523

17-Mar-16 Reg Plan - 0.8028 10.8927

19-Mar-15 Reg Plan - 0.4276 10.4802









IDFC Bond Fund - Medium Term Plan



30-Oct-19 Reg Plan Monthly 0.0983 10.2617

28-Jan-20 Reg Plan BiMonthly 0.0197 11.9228

28-Nov-19 Reg Plan BiMonthly 0.1930 12.0505

26-Sep-19 Reg Plan BiMonthly 0.1376 11.9715




IDFC Bond Fund – Income Plan




25-Sep-19 Reg Plan Half Yearly 0.7946 12.3193

27-Mar-19 Reg Plan Half Yearly 0.6694 12.2363





IDFC Dynamic Bond Fund

22-Mar-17 Reg Plan - 1.1800 11.4289

17-Mar-16 Reg Plan - 0.4301 10.5543

19-Mar-15 Reg Plan - 1.0833 11.1583














IDFC Asset Allocation Fund of Fund - CP


24-Jun-19 Reg Plan Dividend 0.2250 14.9849

30-Aug-18 Reg Plan Dividend 0.2200 14.7190

IDFC Asset Allocation Fund of Fund - MP



28-May-18 Reg Plan Dividend 0.0400 16.0466

IDFC Asset Allocation Fund of Fund - AP


29-Nov-17 Reg Plan Dividend 0.2986 17.1563


IDFC Dynamic Equity Fund

28-Jan-20 Reg Plan Dividend 0.15 11.3200

23-Oct-19 Reg Plan Dividend 0.16 11.0300

24-Jul-19 Reg Plan Dividend 0.06 10.6500

IDFC Corporate Bond Fund





17-Mar-16 Reg Plan Dividend 0.0497 10.1017









IDFC All Seasons Bond Fund










IDFC Cash Fund




30-Oct-19 Reg Plan Monthly 5.0132 1005.3433

27-Sep-19 Reg Plan Monthly 4.0925 1004.4226

IDFC Low Duration Fund




12-Sep-14 Reg Plan Periodic 0.9994 11.0480

28-May-13 Reg Plan Periodic 0.6317 10.6676

30-Jan-12 Reg Plan Periodic 0.2375 10.0287





IDFC GSF – Investment Plan







22-Mar-17 Reg Plan - 1.2400 11.5375

17-Mar-16 Reg Plan - 0.3826 10.5257

19-Mar-15 Reg Plan - 0.7667 11.2234




IDFC GSF - Constant Maturity Plan







IDFC Credit Risk Fund









IDFC Infrastructure Fund

15-Mar-18 Reg Plan Dividend 1.09 18.1944

IDFC Ultra Short Term Fund







IDFC Overnight Fund




Dividend is not guaranteed and past performance may or may not be sustained in future. Pursuant to payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy (as applicable). Dividend received is subject to applicable dividend distribution tax. Face Value of all above schemes (excluding IDFC Cash Fund) is `10/- per unit. Face value of IDFC Cash Fund is `1000/- per unit. Past performance may or may not be sustained in future.

47

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How to read Factsheet

Fund ManagerAn employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts.Application Amount for Fresh SubscriptionThis is the minimum investment amount for a new investor in a mutual fund scheme,Minimum Additional AmountThis is the minimum investment amount for an existing investor in a mutual fund scheme.Yield to MaturityThe Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond’s current market price, par value, coupon interest rate and time to maturity.SIPSIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.NAVThe NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.BenchmarkA group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec.Entry LoadA mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is `100 and the entry load is 1%, the investor will enter the fund at `101.Note: SEBI, vide circular dated June 30, 2009 has abolished entry loan and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the services rendered by the distributor.

Exit LoadExit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is ` 100 and the exit load is 1%, the redemption price would be ` s99 per unit. Modified DurationModified duration is the price sensitivity and the percentage change in price for a unit change in yieldStandard DeviationStandard deviation is a statistical measure of the range of an investment’s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility.Sharpe RatioThe Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk.BetaBeta is a measure of an investment’s volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security’s price will be more volatile than the market.AUMAUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm.HoldingsThe holdings or the portfolio is a mutual fund’s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.Nature of SchemeThe investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories.Rating ProfileMutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

Investment Objective

IDFC Core Equity Fund The Scheme seeks to generate long-term capital growth by investing predominantly in large cap and mid cap stocks.

IDFC Sterling Value Fund The investment objective of the Scheme is to seek to generate capital appreciation from a diversified portfolio of equity and equity related instruments by following a value investment strategy.

IDFC Multi Cap Fund The Scheme shall seek to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments. The Scheme portfolio would acquire, inter alia, small and medium size businesses with good long term potential, which are available at cheap valuations. Such securities would be identified through disciplined fundamental research keeping in view medium to long-term trends in the business environment. The Scheme shall endeavor to accumulate long-term investor wealth by opening subscriptions to units during periods when stocks are available at reasonable valuations. By doing so, the Fund managers would endeavor to prevent short-term money from flowing into the fund which can prove detrimental to the interests of long-term investors. As the scheme would be sold to investors with a long-term investment horizon, it is also expected that the portfolio would remain relatively more insulated to day to day redemption pressures. The fund will close subscription, once it has collected a predetermined “manageable” corpus (approximate amount), which will be decided by the fund manager of the scheme depending on the available investment opportunities in the stock market / if the fund manager is of the opinion that investment opportunities have diminished. Thus the fund manager will endeavour to ensure that there are sufficient assets available to meet the long-term objectives of the fund.

IDFC Focused Equity Fund The investment objective of the Scheme is seek to generate capital appreciation by investing in a concentrated portfolio of equity and equity related instruments up to 30 companies. There is no assurance or guarantee that the objectives of the scheme will be realized.

IDFC Large Cap Fund The investment objective of the Scheme is to seek to generate capital growth from predominantly investing in large cap stocks.

Total Experience of Fund Managers

Name Years Name Years

Mr. Anoop Bhaskar – Head Equity 27+ Mr. Rajendra Kumar Mishra 15+

Mr. Anurag Mittal 10+ Mr. Sumit Agrawal 12+

Mr. Arpit Kapoor 12+ Mr. Suyash Choudhary - Head Fixed Income 16+

Mr. Arvind Subramanian 7+ Mr. Yogik Pitti 10+

Mr. Daylynn Pinto 12+ Mr. Brijesh Shah 10+

Mr. Harshal Joshi 9+

Fund Manager Details

50

Investment Objective

IDFC Nifty Fund The investment objective of the scheme is to replicate the Nifty 50 index by investing in securities of the Nifty 50 Index in the same proportion / weightage.

IDFC Infrastructure Fund The investment objective of the scheme is to seek to generate long-term capital growth through an active diversified portfolio of predominantly equity and equity related instruments of companies that are participating in and benefiting from growth in Indian infrastructure and infrastructural related activities.

IDFC Tax Advantage (ELSS) Fund

The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised.

IDFC Arbitrage Fund The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments and by investing the balance in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized.

IDFC Equity Savings Fund To generate income by predominantly investing in arbitrage opportunities in the cash and derivatives segments of the equity markets along with debt and money market instruments and to generate long-term capital appreciation by investing a portion of the Scheme’s assets in equity and equity related instruments.

IDFC Sensex ETF The fund seeks to provide returns that, before expenses, closely correspond to the total return of the underlying index, subject to tracking errors. There can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

IDFC Nifty ETF The fund seeks to provide returns that, before expenses, closely correspond to the total return of the underlying index, subject to tracking errors. There can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

IDFC Dynamic Equity Fund The primary objective of the scheme is to seek to generate long term capital appreciation with relatively lower volatility through systematic allocation of funds into equity and equity related instruments; and for defensive purposes in equity derivatives. The secondary objective of the scheme will be to generate in come and capital appreciation through investment in Debt & Money Market instruments. There is no assurance or guarantee that the objectives of the scheme will be realised.

IDFC Hybrid Equity Fund The Fund seeks to generate long term capital appreciation by investing predominantly in equity and equity related instruments. The Fund also seeks to generate current income by investing in debt securities and money market instruments.

IDFC Regular Savings Fund The primary objective of the Scheme is to generate regular returns through investment predominantly in debt instruments. The secondary objective of the Scheme is to generate long-term capital appreciation by investing a portion of the Scheme’s total assets in equity securities.

IDFC Asset Allocation Fund of Fund - Conservative Plan

The investment objective of the scheme is to provide diversification across asset classes and generate a mix of capital appreciation and income predominantly through investment in equity funds and debt funds of IDFC Mutual Fund based on a defined asset allocation model.

IDFC Asset Allocation Fund of Fund - Moderate Plan


IDFC Asset Allocation Fund of Fund - Aggressive Plan


IDFC All Seasons Bond Fund The investment objective of the scheme is to generate optimal returns by active management of portfolio that invests predominantly in debt oriented mutual fund schemes (including liquid and money market schemes) of IDFC Mutual Fund.

IDFC Cash Fund The Scheme seeks to offer an investment avenue for short term savings by looking to generate returns commensurate with a low risk strategy and with high liquidity, from a portfolio that is invested in debt and money market securities with maturity up to 91 days.

IDFC Overnight Fund The Fund seeks to offer an investment avenue for short term savings by looking to generate returns in line with the overnight rates.

IDFC Ultra Short Term Fund The Scheme seeks to offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy from a portfolio that is invested in debt and money market securities such that the Macaulay duration of the portfolio is between 3 to 6 months.

IDFC Low Duration Fund The Scheme seeks to offer an investment avenue for short term savings by looking to generate returns commensurate with a low risk strategy from a portfolio that is invested in debt and money market securities such that the Macaulay duration of the portfolio is between 6 months and 12 months.

IDFC Money Manager Fund To generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in money market instruments.


The Scheme seeks to generate returns through investments in debt and money market instruments predominantly issued by entities such as Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions(PFIs)

IDFC Corporate Bond Fund The Fund seeks to provide steady income and capital appreciation by investing primarily in AA+ and above rated corporate debt securities across maturities.

IDFC Credit Risk Fund The Fund seeks to generate returns by investing predominantly in AA and below rated corporate debt securities across maturities.


The scheme seeks to invest in a diversified set of debt and money market securities with the aim of generating optimal returns over short term such that the Macaulay duration of the portfolio is between 1 year and 3 years.

IDFC Bond Fund – Medium Term Plan

The scheme seeks to invest in a diversified set of debt and money market securities with the aim of generating optimal returns over medium term such that the Macaulay duration of the portfolio is between 3 years and 4 years

IDFC Bond Fund – Income Plan The scheme seeks to invest in a diversified set of debt and money market securities with the aim of generating optimal returns over medium to long term such that the Macaulay duration of the portfolio is between 4 years and 7 years.

IDFC Dynamic Bond Fund To generate optimal returns by active management of the portfolio by investing in debt and money market instruments across maturities.

IDFC Government Securities Fund - Constant Maturity Plan

The scheme seeks to generate optimal returns with high liquidity by investing in Government Securities such that weighted average portfolio maturity of around 10 years.

IDFC Government Securities Fund - Investment Plan

The scheme seeks to generate optimal returns with high liquidity by investing in Government Securities across maturities.

@IDFCAMC IDFC Mutual FundIDFCC M IDFC Mutual Fundual FundMutu IDFCC Mutu

WESTAhmedabad B Wing, 3rd Floor, Chandan House Opp Gruh Finance, Mithakhali Six Roads, Law Garden, Tel.:079-26460923/925

Ahmedabad 380006.Bhopal Plot No. 49, First Floor, Above Tata Capital Limited, M P Nagar, Zone II, Bhopal [M.P.] - 462011.Bhilai 26, Commercial Complex, Nehru Nagar (East), Bhilai, Chhattisgarh, Pin - 490020. Mobile No. 8871144134.Goa F -27 & F -28, 1st Floor, Alfran Plaza, M.G Road, Opp. Don Bosco High School, Panjim - Goa. 403001,

Tel.: +91-0832-6631022.Indore 405, 4th Floor, 21/ 1, D. M. Tower, Race Course Road, Indore - 452 001. Tel.: +91-731-4206927/ 4208048.

Fax: +91-731-4206923.Mumbai

Mumbai(Borivali)

‘One IndiaBulls Centre’ 6th Floor, Jupiter Mills Compound, 841, Senapati Bapat Marg, Elphinstone (W) Mumbai – 400013. Tel No. 6628 9999Ground Floor, Kapoor Apartment CHS, Near Punjabi lane, Chandavarkar Road, Borivali (West), Mumbai - 400092. Tel.: 022 48794555.

Mumbai (Churchgate)

Unit No. 27, Ground Floor, Khetan Bhavan, 198, Jamshedji Tata Road, Churchgate, Mumbai-400020. Tel.:+912266289999.

Mumbai (Ghatkopar) Mumbai(Thane)

Office No. 308, Zest Business Spaces, M. G. Road, Ghatkopar (East), (Maharashtra) Mumbai- 400077.

Shop No. 1, Konark Towers, Ghantali Devi Road, Thane (West) 400602.

Nagpur Fortune Business Centre, First Floor, 6, VasantVihar, W. H. C. Rd., Shankar Nagar, Nagpur - 440 010. Tel.: +91-712-6451428/ 2525657.

Nasik Shop No - 6, Rajvee Enclave, New Pandit Colony, Off Sharanpur Road, Nasik - 422002. Tel.: 0253-2314611. Pune 1st Floor, Dr. Herekar Park Building, Next to Kamala Nehru Park, Off. Bhandarkar Road, Pune - 411 004.

Tel.: +91-20-66020965/ 4.Raipur T-19,III Floor, Raheja Tower, Near Hotel Celebration, Jail Road, Raipur (C G) - 492001. Tel: 0771-6900699.Rajkot “Star Plaza”, 2nd Floor, Office No. 201, Phulchab Chowk, Rajkot - 360 001. Tel.: +91-281-6620921 / 2475237.Surat HG-12, Higher Ground Floor, International Trade Centre,Majura Gate Crossing, Ring Road, Surat - 395 002.

Tel.: +91-261-2475060, 2475070.Vadodara 301, 2nd Floor, Earth Complex, Opposite Vaccine Ground, Above Indian Overseas Bank, Old Padra Road,

Vadodara - 380015. Tel No.: 0265 - 2339623/2339624/2339325.Jaipur 301-A, 3rd Floor, Ambition Tower, Agersen Circle, Malan Ka Chaurah, Subash Marg, C-Scheme, Jaipur - 302 001.

Tel. No. : +91-0141- 2360945, 2360947, 2360948NORTHAgra Office No. 307A, 3rd Floor, Block #38/4A, Sumriddhi Business Suites, Sanjay Place, Agra - 282 002.

Tel.:+91- 562-4064889Amritsar 6-FUF, 4th Floor Central Mall, Mall Road, Amritsar - 143001. Tel.:+911835030393.Chandigarh SCO 2469 - 70, 1st Floor, Sector 22C, Chandigarh - 160 022. Tel.: +91 17 2507 1918 / 5071919,

Fax: +91-172-5071918.Dehradun G-12 B NCR Plaza, Ground Floor, 24 A, 112/28, Ravindranath Tagore Marg, New Cantt Road, Dehradun-248001.

Mobile: 9897934555, 8171872220Jalandhar 1st floor, Satnam Complex, BMC Chowk, G.T.Road, Jalandhar-144001. Punjab-India. Tel.: 01815018264.Kanpur Office No. 214-215, IInd Floor, KAN Chambers, 14/113, Civil Lines, Kanpur - 208 001. Tel.: +91-512-2331071,

2331119.Lucknow 1st floor, Aryan Business Park, Exchange Cottage, 90.M.G. Marg, Park Road, Lucknow-226001, Mob: 9792999940,

Tel.: 0522-4928100 - 106, 0522-6888012Allahabad S. N. Tower, 2nd Floor, 4C, Maharshi Dayanand Marg, Opp. Radio Station, Civil Lines, Allahabad - 211 001.

Mobile: 9026582330Ludhiana SCO 124, 1st Floor, Feroze Gandhi Market, Ludhiana - 141 001. Tel.: 0161-5022155/ 56/ 57.New Delhi 4th Floor, NarainManzil, 23, Barakhamba Road, New Delhi - 110 001. Tel.: +91-11-47311301/ 02/ 03/ 04/ 05.Varanasi IDFC Asset Management Co. Ltd. 3rd Floor, Premise No. D-64/127, CH, Arihant Complex, Sigra Varanasi - 221010

(U.P). Phone No. 05422226527Gurugram 117, 1st Floor, Vipul Agora, M. G. Road, Gurugram - 122 001. Ph: 011-47311336.Pitampura, Delhi

IDFC AMC LTD., Shop No. 01 and 02, Ground Floor, Pearls Best Heights-II, Plot No. C-9, Pitampura, Delhi, Contact Details - 7065551661

SOUTHBengaluru 6th Floor, East Wing, Raheja Towers, #26 & 27, M. G. Road, Bengaluru - 560 001. Tel.: +91-80-43079000/ 01/

02/ 03, Fax - +91-80-43079009.Chennai KRM Tower, 7th floor, No. 1, Harrington Road, Chetpet, Chennai - 600 031. Tel.: +91-44-45644201/ 202.Cochin 39/3993 B2, Gr. Floor, Vantage Point, VRM Rd, Ravipuram, Cochin - 682 016. Tel: +91-484-3012639/ 4029291,

Fax: +91-484-2358639.Coimbatore A Complex , No. 49, Father Randy Street, Azad Road, R. S. Puram, Coimbatore - 641 002. Hyderabad 3rd Floor, SB Towers, Banjara Hills Road No. 1, Nearby Nagarjuna Circle, Hyderabad -500 034Madurai No.278, 1st Floor, Nadar Lane, North Perumal Maistry Street, Madurai - 625 001. Tel.: 0452-6455530.Mangalore 1st Floor, Crystal Arcade, Balmatta Road, Hampankatta, Mangalore - 575001. Tel.: +91 8242980769.Mysore CH 26, Shop No 1, 2nd Floor, 7th Main, 5th Cross ( Veta Building ) Saraswathipuram, Mysore - 570009.EASTBhubaneswar Rajdhani House, 1st Floor, 77 Kharvel Nagar, Janpath, Bhubaneswar - 751001. Phone : 0674 6444252 / 0674

2531048 / 0674 2531148.Guwahati 4E, 4th Floor, Ganapati Enclave, G. S. Road, Ulubari, Opp. Bora Service Station, Guwahati - 781 007. Mobile:

9207410763, 9207410764, 9207410765, 9207410766.Jamshedpur IDFC Mutual Fund, Room No.111, 1st Floor, Yashkamal Complex, Main Road, Bistupur, Jamshedpur-831001, Ph No.

0657-2230112/111/222, Mobile No. : 9431102883.Kolkata Oswal Chambers, 1st Floor, 2 Church Lane, Kolkata - 700 001. Tel.: +91-33-40171000/ 1005.Patna 406, Ashiana Hariniwas, New Dakbanglow Road, Patna - 800 001. Tel.: +91-612-6510353.Ranchi Shop No. 104 and 105, 1st Floor, Satya Ganga Arcade, Vinod Ashram Road, Ranchi - 834001.

Te.: 0651-221259/92.Durgapur (West Bengal)

6/2A, Suhatta, 6th Floor, City Centre, Durgapur - 713216. Phone No.: +91 8537867746.

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

factsheet...3 equity snapshot as on 31 st january 2020 category scheme name about the fund...

Documents