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30th April, 2016

BARODA PIONEER MUTUAL FUND

Dear Investors,

Warm Greetings!

Post a 9% rally in the month of March 2016; BSE Sensex was up 1% during April 2016 month. Continued inflows from FIIs, strong IIP numbers and expectations of good monsoon helped markets sustain rally during the month.

Key positive news was on monsoon front. The Indian met department forecasted the seasonal rainfall at 106% of the long-period average for the 2016 southwest monsoon (June-September). This compares with 88% and 86% rainfall received in the 2014 and 2015 season respectively. While IMD will issue a detailed forecast in June (month wise), the weakening of El Nino conditions and a possibility of La Nina suggests that the proverbial rain gods may indeed smile this year.

Headline CPI at 4.8% was below estimates on the back of lower than expected vegetable and pulses inflation. This helped lower food inflation to 5.3% in March 2016 from 5.5%

in February 2016. Even core inflation fell to 4.7% largely driven by lower transport and communication print. Industrial activity, on the other hand, rebounded mostly on the back of basic, capital and consumer durables segments.

Index of industrial production reported an increase of 2% led by mining and electricity which increased by 5.0% and 9.6% respectively. Manufacturing performance was relatively weak at 0.7%. The weaker performance of manufacturing can be attributed to capital goods and consumer non-durables. While capital goods declined by 9.8%, consumer non-durables declined by 4.2%. As there has been the case lately, durables goods output remained relatively robust at 9.7%. In FYTD16, IIP growth is now at 2.6% versus 2.8% increase seen in the same period last year.

In the April 2016 Bi Monthly Monetary policy, RBI cut the repo rate by 25bps to 6.5% in line with market expectation. RBI announced changes to liquidity framework to facilitate transmission of rates. RBI reduced the minimum daily maintenance of the cash reserve ratio (CRR) from 95 % of the requirement to 90 % with effect from the fortnight beginning April 16, 2016. The liquidity position is likely to be brought closer to neutrality from a current deficit of over 1.5% of NDTL. It narrowed the policy corridor from +/- 100 bps to +/- 50 bps by reducing the MSF rate by 75 bps and increasing the reverse repo rate by 25 bps. Neutral liquidity is likely to enable higher transmission to money market rates, and the overnight interbank rate could eventually fall closer to the lower end of the corridor set at 6%. RBI is dovish in this policy as compared to last one as it has maintained its “accommodative” policy stance with Liquidity easing measures. The new liquidity framework should lead to lower overnight and money market rates. RBI may have to conduct more OMOs (Open Market Operation) to achieve the neutrality in liquidity position from deficit, which should support the long end of the yield curve. The bond market may trade on positive bias in future and key trigger for the rally may be lower CPI print, improving system liquidity, OMOs and Fiscal consolidation measures. Having said that the upside is limited as the uncertainty remains on slippage in fiscal deficit, Monsoon, Crude and Commodity prices.

The second half of budget session, which began on 25 April 2016, was mired in controversies of AgustaWestland and President’s rule in Uttarakhand. Meanwhile, the Joint Parliament Standing Committee has cleared the Bankruptcy and Insolvency Code and it is likely to be discussed in the ongoing Budget Session.

FIIs were net investors with inflows of USD1.26bn$. YTD FIIs have invested 1.79bn$ vs USD7.2bn last year. Stock markets have corrected, which gives a good opportunity for long term investors. With expectations of improving growth and the economy likely to benefit from falling crude prices, India should continue to attract global investors. We continue to be constructive on equities with valuations at below long-term averages.

Happy Investing in 2016!

Sanjay Chawla

Chief Investment Officer

Source : Bloomberg, Economic Times

CIO Letter

2

Mr. Sanjay ChawlaChief Investment Officer

30th April, 2016


INDEX

Title

How To Read Factsheet Pg 4

Baroda Pioneer Growth Fund Pg 5

Baroda Pioneer ELSS’ 96 Pg 6

Baroda Pioneer PSU Equity Fund Pg 7

Baroda Pioneer Infrastructure Fund Pg 8

Baroda Pioneer Banking and Financial Services Fund Pg 9

Baroda Pioneer Balance Fund Pg 10

Baroda Pioneer Monthly Income Plan (MIP) Fund(Monthly income is not assured and is subject to the availability of distributable surplus)

Pg 11

Baroda Pioneer Credit Opportunities Fund Pg 12

Baroda Pioneer Gilt Fund Pg 13

Baroda Pioneer Income Fund Pg 14

Baroda Pioneer Dynamic Bond Fund Pg 15

Baroda Pioneer Short Term Bond Fund Pg 16

Baroda Pioneer Treasury Advantage Fund Pg 17

Baroda Pioneer Liquid Fund Pg 18

Investment Performance Pg 19

SIP Returns Pg 23

Dividend History Pg 24

3

30th April, 2016


Fund Manager : An 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 Subscription : This is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum Additional Amount : This is the minimum investment amount for an existing investor in a mutual fund scheme.

Yield to Maturity : The 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.

SIP : SIP 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.

NAV : The 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.

Benchmark : A 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 Load : A 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 Rs. 100 and the entry load is 1%, the investor will enter the fund at Rs. 101.

Note: SEBI, vide circular dated June 30, 2009 has abolished entry load 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 service rendered by the distributor.

Exit Load : Exit 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 Rs 100 and the exit load is 1%, the redemption price would be Rs 99 Per Unit.

Modified Duration : Modified duration is the price sensitivity and the percentage change in price for a unit change in yield

Standard Deviation : Standard 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 Ratio : The 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.

Beta : Beta is a measure of an investment’s volatility vis-à-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.

AUM : AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm.

Holdings : The 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 Scheme : The 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 Profile : Mutual 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.

How To Read Factsheet?

4

30th April, 2016


Baroda Pioneer Growth Fund

PORTFOLIO

Name of Instruments Ratings / Industry

% to Net Assets

EQUITY & EQUITY RELATED

Listed / awaiting listing on the stock exchanges

Infosys Ltd. Software 7.60%

HDFC Bank Ltd. Banks 6.03%

Yes Bank Ltd. Banks 4.19%

Reliance Industries Ltd. Petroleum Products

3.64%

IndusInd Bank Ltd. Banks 3.49%

ITC Ltd. Consumer Non Durables

3.37%

Larsen & Toubro Ltd. Construction Project

2.79%

Mahindra & Mahindra Ltd. Auto 2.46%

Ashok Leyland Ltd. Auto 2.37%

Indraprastha Gas Ltd. Gas 2.33%

Tata Motors Ltd. Auto 2.27%

Zee Entertainment Enterprises Ltd.

Media & Entertainment

2.15%

Kotak Mahindra Bank Ltd. Banks 2.12%

Maruti Suzuki India Ltd. Auto 2.11%

Cipla Ltd. Pharmaceuticals 2.09%

Lupin Ltd. Pharmaceuticals 2.08%

Pidilite Industries Ltd. Chemicals 2.01%

Muthoot Finance Ltd. Finance 1.88%

Sun Pharmaceuticals Industries Ltd.

Pharmaceuticals 1.80%

Hindustan Unilever Ltd. Consumer Non Durables

1.77%

The Ramco Cements Ltd. Cement 1.75%

Hexaware Technologies Ltd. Software 1.70%

Axis Bank Ltd. Banks 1.66%

Petronet LNG Ltd. Gas 1.66%

State Bank of India Banks 1.61%

Britannia Industries Ltd. Consumer Non Durables

1.59%

Asian Paints Ltd. Consumer Non Durables

1.51%

FAG Bearings India Ltd. Industrial Products

1.47%

Tata Consultancy Services Ltd.

Software 1.41%

Healthcare GlobalEnterprises Ltd.

Healthcare Services

1.36%

SKS Microfinance Ltd. Finance 1.34%

Cummins India Ltd. Industrial Products

1.31%

Bajaj Finance Ltd. Finance 1.26%

Tech Mahindra Ltd. Software 1.26%

Alstom T&D India Ltd. Industrial Capital Goods

1.25%

Gujarat State Petronet Ltd. Gas 1.25%

The Karur Vysya Bank Ltd. Banks 1.24%

Ultratech Cement Ltd. Cement 1.17%

Housing Development Finance Corporation Ltd. - Warrants

Finance 1.08%

D.B.Corp Ltd. Media & Entertainment

1.07%

TVS Motor Company Ltd. Auto 1.01%

SH Kelkar andCompany Ltd.

Consumer Non Durables

0.93%

PORTFOLIO


% to Net Assets

Cadila Healthcare Ltd. Pharmaceuticals 0.91%

Indian Oil Corporation Ltd. Petroleum Products

0.88%

LIC Housing Finance Ltd. Finance 0.86%

TeamLease Services Ltd. Commercial Services

0.78%

Jindal Steel & Power Ltd. Ferrous Metals 0.77%

Marico Ltd. Consumer Non Durables

0.77%

The South Indian Bank Ltd. Banks 0.54%

Hindustan Petroleum Corporation Ltd.

Petroleum Products

0.46%

Glenmark Pharmaceuticals Ltd.


Healthcare GlobalEnterprises Ltd.

Healthcare Services

0.56%

SH Kelkar andCompany Ltd.


0.53%

Hindustan Petroleum Corporation Ltd.

Petroleum Products

0.46%

Total 94.41%

PREFERENCE SHARES


Zee Entertainment Enterprises Limited - Preference shares


0.07%

Total 0.07%

CBLO / Reverse Repo Investments 3.96%

Total 3.96%

Cash & Cash Equivalents

Net Receivable/Payable 1.56%

Total 1.56%

Grand Total 100.00%

All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.

TOP SECTORS

20.88%

11.97%

10.22%

9.94%

6.88%

6.42%

5.52%

5.24%

4.98%

3.29%

2.92%

2.79%

2.78%

2.01%

1.36%

1.25%

0.78%

0.77%

Banks

Software

Auto


Pharmaceuticals

Finance

Cash & Equivalent

Gas

Petroleum Products


Cement

Construction Project

Industrial Products

Chemicals

Healthcare Services

Industrial Capital Goods

Commercial Services

Ferrous Metals

Investors understand that their principal will be at Moderately High risk

This product is suitable for investors who are seeking*• Capital appreciation over long term• Investment predominantly in equity and equity related

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

INVESTMENT OBJECTIVE

To generate long term capital appreciation from an actively managed portfolio of equity & equity related instruments.

FUND DETAILS

Type of Scheme An Open Ended Growth Scheme

Date of Allotment September 12, 2003

Fund Manager# Mr. Sanjay Chawla& (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs)

Benchmark S&P BSE 200 (w.e.f May 02, 2016)

Monthly Average AUM (`)

264.48 Crs

Month end AUM (`) 270.30 Crs

Minimum Investment ` 5,000/- & in multiples of ` 1/- thereafter

Entry Load NilExit Load 1% if redeemed on or before

365 days from the date ofallotment, Nil if redeemed after 365 days from the dateof allotment of units

Plans

Option

Plan A and Plan B (Direct)

The Scheme(s) offer:A. Growth Option (default option in case no option specified by investor);B. Dividend Option C. Bonus Option$

SIP (Minimum) ` 1000/month - 6 Installments` 1500/quarter - 4 Installments

RISk PROFILE 29 APRIL 2016Standard deviation 16.19%Sharpe@ 0.48Beta 0.96Portfolio Turnover (last 12 months) 1.54

NAV AS ON 29 APRIL 2016NAV (Per Unit) `Plan AGrowth 71.5500Dividend 32.0500Plan B - DirectGrowth 73.6200Dividend 31.3900

TOTAL EXPENSE RATIOPlan A 2.87%Plan B (Direct) 2.69%

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*For Disclaimer please refer page no 22@risk free rate (FBIL Overnight MIBOR) 6.57& Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015

An Open Ended Growth Scheme

5

30th April, 2016


PORTFOLIO


% to Net Assets









Sun Pharmaceuticals Industries Ltd.




FAG Bearings India Ltd. Industrial Products 2.49%

Gujarat StatePetronet Ltd.

Gas 2.45%



2.36%


The South Indian Bank Ltd.

Banks 2.29%


Gujarat Gas Ltd. Gas 2.24%



Zee Entertainment Enterprises Ltd.


2.17%


Reliance Industries Ltd. Petroleum Products

2.05%

PTC India Ltd. Power 2.03%

Hexaware Technologies Ltd.

Software 2.02%


SH Kelkar and Company Ltd.


1.91%


Colgate Palmolive (India) Ltd.


1.76%

Mahindra &Mahindra Ltd.

Auto 1.67%

Housing Development Finance CorporationLtd. - Warrants

Finance 1.63%


Persistent Systems Ltd. Software 1.55%


Tata ConsultancyServices Ltd.

Software 1.32%

Cummins India Ltd. Industrial Products 1.29%

Healthcare Global Enterprises Ltd.

Healthcare Services 1.23%

NCC Ltd. Construction Project

1.22%

Britannia Industries Ltd. Consumer Non Durables

1.20%

Kansai NerolacPaints Ltd.


1.19%

Kotak MahindraBank Ltd.

Banks 1.12%

Cyient Ltd. Software 1.10%


PORTFOLIO


% to Net Assets


The Great Eastern Shipping Company Ltd.

Transportation 0.69%


Max India Ltd. ** Finance 0.18%

TeamLease Services Ltd. Commercial Services

0.15%

Max Ventures and Industries Ltd. **

Industrial Products 0.01%

Total 96.00%

PREFERENCE SHARES


Zee Entertainment Enterprises Limited - Preference shares


0.02%

Total 0.02%


Total 2.44%



Total 1.54%

Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

TOP SECTORS

19.92%

15.09%

11.28%

9.29%

7.30%

6.47%

6.06%

3.98%

3.79%

3.58%

3.01%

2.19%

2.05%

2.03%

1.89%

1.23%

0.69%

0.15%

Banks

Software

Auto

Gas

Pharmaceuticals

Finance


Cash & Equivalent

Industrial Products


Cement


Petroleum Products

Power

Chemicals

Healthcare Services

Transportation

Commercial Services

Baroda Pioneer ELSS’ 96


This product is suitable for investors who are seeking*• Capital growth over long term• Investment predominantly in equity and equity related

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


The main objective of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, 1961.

FUND DETAILS

Type of Scheme An Open Ended Tax Benefit-Cum-Growth Scheme

Date of Allotment March 31, 1996Fund Manager# Mr. Sanjay Chawla& (Experience

25 yrs) Mr. Dipak Acharya (Experience 12 yrs)

Benchmark S&P BSE 200 (w.e.f May 02, 2016)


46.92 Crs

Month end AUM (`) 47.85 Crs Minimum Investment ` 5000/- & in multiples of ` 1/-

thereafterEntry Load NilExit Load NilPlans

Option


The Scheme(s) offer:A. Growth Option (default option in case no option specified by investor);B. Dividend Option C. Bonus Option$



NAV AS ON 29 APRIL 2016NAV (Per Unit) `Plan ADividend 26.1000Bonus 33.3400Growth 33.3400Plan B - DirectDividend 29.7900Bonus 34.8500Growth 34.8500


$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22@risk free rate (FBIL Overnight MIBOR) 6.57& Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015

An Open Ended Tax Benefit - Cum - Growth Scheme

6

30th April, 2016


Baroda Pioneer PSU Equity Fund

Investors understand that their principal will be at High risk

This product is suitable for investors who are seeking*• Growth in capital along with the liquidity over long

term• Investment predominantly in equity stocks of domestic

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


The primary investment objective of the Scheme is to provide investors with opportunities for long term growth in capital along with the liquidity of an open ended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings.

FUND DETAILS

Type of Scheme An Open Ended Equity Scheme

Date of Allotment October 4, 2010

Fund Manager# Mr. Dipak Acharya(Experience 12 yrs)

Benchmark S&P BSE PSU Index

Monthly Average AUM (`) 26.28 Crs



Entry Load Nil

Exit Load

1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units

Plans

Option


The Scheme(s) offer:A. Growth Option (default option in case no option specified by investor);B. Dividend Option 1. Payout;2. Reinvestment (default sub-option in case no option specified by investor)C. Bonus Option$


RISk PROFILE 29 APRIL 2016Standard deviation 21.25%Sharpe@ -0.38Beta 0.94Portfolio Turnover (last 12 months) 1.49



PORTFOLIO


% to Net

Assets




10.72%

Engineers India Ltd. Construction Project

10.17%



Power Grid Corporation ofIndia Ltd.

Power 6.82%

GAIL (India) Ltd. Gas 6.17%


Coal India Ltd. Minerals/Mining

5.48%


Union Bank Of India Banks 4.85%

Steel Authority of India Ltd. Ferrous Metals 4.51%

Oil & Natural Gas Corporation Ltd.

Oil 4.13%

Container Corporation of India Ltd.


Neyveli Lignite Corporation Ltd. Power 2.93%

Gujarat State Fertilizers & Chemicals Ltd.

Fertilisers 1.70%

SJVN Ltd. Power 1.62%

Hindustan PetroleumCorporation Ltd.

Petroleum Products

1.59%

The Jammu & KashmirBank Ltd.

Banks 1.57%

Shipping Corporation ofIndia Ltd.


Mangalore Refinery and Petrochemicals Ltd.

Petroleum Products

1.29%

Total 95.91%

BONDS & NCDs


NTPC Limited CRISIL AAA 0.49%

Total 0.49%


Total 4.02%


Net Receivable/Payable -0.42%

Total -0.42%

Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.

TOP SECTORS

26.92%

13.61%

13.60%

11.37%

10.17%

5.48%

4.51%

4.42%

4.13%

3.60%

1.70%

0.49%

Gas

Banks

Petroleum Products

Power


Minerals/Mining

Ferrous Metals

Transportation

Oil

Cash & Equivalent

Fertilisers

CRISIL AAA

An Open Ended Equity Scheme

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22@risk free rate (FBIL Overnight MIBOR) 6.57

7

30th April, 2016


Baroda Pioneer Infrastructure Fund

Investors understand that their principal will be atHigh risk

This product is suitable for investors who are seeking*• Capital appreciation over long term• Investment predominantly in equity and equity-related

securities of companies engaged in infrastructure and infrastructure related sectors.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The primary investment objective of the Scheme will be to generate long-term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in infrastructure and infrastructure related sectors.

FUND DETAILS

Type of Scheme An Open Ended Equity SchemeDate of Allotment June 22, 2010Fund Manager# Mr. Dipak Acharya

(Experience 12 yrs)

Benchmark Nifty Infra*Monthly Average AUM (`) 17.21 CrsMonth end AUM (`) 17.14 Crs Minimum Investment ` 5,000/- & in multiples of ` 1/-

thereafterEntry Load NilExit Load 1.00% if redeemed on or before 365

days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units

Plans

Option




RISk PROFILE 29 APRIL 2016Standard deviation 20.37%Sharpe@ 0.27Beta 0.81 Portfolio Turnover (last 12 months) 2.33



PORTFOLIO


% to Net Assets




6.95%


Engineers India Ltd. Construction Project

5.44%

FAG Bearings India Ltd. Industrial Products 4.63%

NCC Ltd. Construction Project

4.10%

Solar Industries India Ltd. Chemicals 3.96%



PTC India Ltd. Power 3.78%




Idea Cellular Ltd. Telecom - Services 3.46%


Kalpataru Power Transmission Ltd.

Power 3.05%

PNC Infratech Ltd. Construction 3.05%



Ingersoll Rand (India) Ltd. Industrial Products 2.54%


Alstom T&D India Ltd. Industrial Capital Goods

1.89%

KEC International Ltd. Construction Project

1.69%


GAIL (India) Ltd. Gas 1.58%

Sadbhav Engineering Ltd. Construction Project

1.54%

Hindustan Zinc Ltd. Non - Ferrous Metals

1.51%

The Great EasternShipping Company Ltd.



1.26%

Texmaco Rail &Engineering Ltd.


1.22%

Tata Communications Ltd. Telecom - Services 1.21%


Finance 1.13%

JSW Energy Ltd. Power 0.99%


Reliance Capital Ltd. Finance 0.94%

Can Fin Homes Ltd. Finance 0.34%

Max Ventures andIndustries Ltd. **

Industrial Products 0.04%

Total 96.26%

PORTFOLIO


% to Net Assets

BONDS & NCDs


NTPC Limited CRISIL AAA 0.34%

Total 0.34%


Total 1.96%



Total 1.44%

Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

TOP SECTORS

19.72%

18.05%

9.79%

8.88%

7.82%

7.63%

4.67%

3.96%

3.74%

3.40%

3.11%

3.05%

1.63%

1.51%

1.44%

1.26%

0.34%


Gas

Industrial Products

Finance

Power

Cement

Telecom - Services

Chemicals

Auto

Cash & Equivalent


Construction

Ferrous Metals

Non - Ferrous Metals

Transportation

Petroleum Products

CRISIL AAA

An Open Ended Equity Scheme

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*For Disclaimer please refer page no 22@risk free rate (FBIL Overnight MIBOR) 6.57

8

30th April, 2016


Baroda Pioneer Banking and Financial Services Fund

Investors understand that their principal will be atHigh risk

This product is suitable for investors who are seeking*• Capital appreciation over long term• Investment predominantly in equity and equity related

securities of companies engaged in the Banking & Financial Services Sector* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The investment objective is to generate long-term capital appreciation for unit holders from a portfolio invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector.

FUND DETAILS

Type of Scheme An Open Ended Sectoral Scheme

Date of Allotment June 22, 2012

Fund Manager# Mr. Dipak Acharya(Experience 12 yrs)

Benchmark Nifty Bank Index*




Entry Load Nil

Exit Load Exit Load - 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment

Plans

Option





NAV AS ON 29 APRIL 2016NAV (Per Unit) `Plan AGrowth 13.8600Dividend 12.9000Bonus 13.8600Plan B - DirectGrowth 14.2500Dividend 13.2600Bonus NA


PORTFOLIO


% to Net Assets









ICICI Bank Ltd. Banks 5.17%

The South Indian Bank Ltd. Banks 1.99%

Reliance Capital Ltd. Finance 1.99%


ICRA Ltd. Finance 1.66%




Karnataka Bank Ltd. Banks 1.22%

The Jammu & KashmirBank Ltd.

Banks 1.20%


LIC Housing Finance Ltd. Finance 1.01%

Sundaram Finance Ltd. Finance 0.98%


Finance 0.85%

Total 90.80%


Total 8.81%



Total 0.39%

Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.

TOP SECTORS

78.71%

12.09%

9.20%

Banks

Finance

Cash & Equivalent

An Open Ended Sectoral Scheme

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*For Disclaimer please refer page no 22@risk free rate (FBIL Overnight MIBOR) 6.57

9

30th April, 2016


Baroda Pioneer Balance Fund


This product is suitable for investors who are seeking*• Capital appreciation along with stability over long term• Investment predominantly in equity and equity related

instruments with balance exposure to money market instruments and debt securities.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The scheme is targeted for long-term capital appreciation along with stability through a well balanced portfolio comprising of equity,equity related instruments, money market instrument and debt securities.

FUND DETAILS

Type of Scheme An Open Ended Balanced Scheme


Fund Manager# Mr. Sanjay Chawla& (Experience 25 yrs) Mr. Dipak Acharya (Experience 12 yrs)

Benchmark CRISIL Balanced Fund Aggressive index(effective April 4, 2016)

Monthly Average AUM (`) 182.30 CrsMonth end AUM (`) 168.47 Crs Minimum Investment ` 5,000/- & in multiples of ` 1/-

thereafterEntry Load Nil

Exit Load 1% if redeemed on or before 365 days from the date ofallotment, Nil if redeemed after 365 days from the dateof allotment of units

Plans

Option



SIP (Minimum) ` 1000/month - 6 months` 1500/quarter - 4 quarters


NAV AS ON 29 APRIL 2016NAV (Per Unit) `Plan AGrowth 41.2100Dividend 16.3200Bonus 41.2100Plan B - DirectGrowth 42.5700Dividend 17.2000


$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22@risk free rate (FBIL Overnight MIBOR) 6.57 & Mr. Chawla is managing the Scheme along with Mr. Acharya effective November 1, 2015

PORTFOLIO


% to Net


Listed / awaiting listing on the stock exchangesInfosys Ltd. Software 6.45%



ITC Ltd. Consumer Non Durables 2.70%




Zee EntertainmentEnterprises Ltd.

Media & Entertainment 2.22%


Indian Oil Corporation Ltd. Petroleum Products 1.93%



Hindustan Unilever Ltd. Consumer Non Durables 1.80%

Hindustan PetroleumCorporation Ltd. Petroleum Products 1.73%

Mahindra & Mahindra Ltd. Auto 1.58%


Tata Consultancy Services Ltd. Software 1.51%

Larsen & Toubro Ltd. Construction Project 1.49%Sun PharmaceuticalsIndustries Ltd. Pharmaceuticals 1.44%



Divi's Laboratories Ltd. Pharmaceuticals 1.25%


Reliance Industries Ltd. Petroleum Products 1.17%

Bajaj Corp Ltd. Consumer Non Durables 1.15%



FAG Bearings India Ltd. Industrial Products 0.94%Aditya Birla Fashion andRetail Ltd. Retailing 0.91%

IPCA Laboratories Ltd. Pharmaceuticals 0.89%

Engineers India Ltd. Construction Project 0.85%

Britannia Industries Ltd. Consumer Non Durables 0.85%


TeamLease Services Ltd. Commercial Services 0.82%


Godrej Consumer Products Ltd. Consumer Non Durables 0.78%


Hexaware Technologies Ltd. Software 0.72%

NCC Ltd. Construction Project 0.70%WABCO India Ltd. Auto Ancillaries 0.69%


PNC Infratech Ltd. Construction 0.62%

Berger Paints India Ltd. Consumer Non Durables 0.61%

Healthcare Global Enterprises Ltd. Healthcare Services 0.56%

City Union Bank Ltd. Banks 0.50%


Dr. Lal Path labs Ltd. Healthcare Services 0.39%


Max Financial Services Ltd. Finance 0.33%


JK Lakshmi Cement Ltd. Cement 0.21%Max Ventures andIndustries Ltd. ** Industrial Products 0.03%

Total 70.93%

PORTFOLIO


% to Net

CENTRAL GOVERNMENT SECURITIES8.24% CGL 2027 Sovereign 0.80%

7.88% CGL 2030 Sovereign 0.72%



8.60% CGL 2028 Sovereign 0.06%8.28% CGL 2027 Sovereign 0.06%Total 2.55%BONDS & NCDsListed / awaiting listing on the stock exchangesPiramal Enterprises Ltd. [ICRA]AA 11.26%Capital First Ltd. CARE AA+ 5.95%

Total 17.21%


Total 5.88%



Total 3.43%

Grand Total 100.00%

All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

TOP SECTORS

15.97%11.26%

9.40%9.31%

7.89%7.88%

5.95%5.03%4.83%

3.04%2.63%2.55%2.51%2.22%2.02%

1.41%1.28%0.95%0.91%0.83%0.82%0.69%0.62%

Banks[ICRA]AASoftware

Cash & EquivalentConsumer Non Durables

PharmaceuticalsCARE AA+

AutoPetroleum Products

Construction ProjectGas

SovereignChemicals

Media & EntertainmentIndustrial Products

CementFinance

Healthcare ServicesRetailing

Ferrous MetalsCommercial Services

Auto AncillariesConstruction

An Open Ended Balanced Scheme

10

30th April, 2016


Baroda Pioneer Monthly Income Plan (MIP) Fund

Investors understand that their principal will be at Moderate risk

This product is suitable for investors who are seeking*• Regular Income and capital appreciation over medium

term with providing liquidity• Investment in debt and money market instruments and

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


To generate regular income through investment in debt and money market instruments and also to generate long-term capital appreciation by investing a portion in equity and equity related instruments.

FUND DETAILS

Type of Scheme An Open Ended Income Scheme with no assured returns.


Fund Manager Ms. Hetal Shah#

(Experience 12 yrs)

Benchmark CRISIL MIP Blended Index



Minimum Investment ` 5,000/- & in multiples of ` 1.000/- thereafter

Entry Load Nil

Exit Load NIL

Plans Plan A and Plan B (Direct)

Options • Growth• Monthly Dividend 1. Payout 2. Reinvestment • Quarterly Dividend 1. Payout 2. Reinvestment • Bonus Option$


NAV AS ON 29 APRIL 2016NAV (Per Unit) `Plan AGrowth 19.2198Dividend - Monthly 13.0281Dividend - Quarterly 12.6767Plan B - DirectGrowth 19.7645Dividend - Quarterly 12.8506Dividend - Monthly 13.1737

PORTFOLIO CHARACTERISTIC

Average Maturity (Days) 1551.60Modified Duration (Years) 2.92Portfolio Yield (%) 8.00


$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*Monthly income is not assured and is subject to the availability of distributable surplus.**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

PORTFOLIO


% to Net Assets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchanges



Zee EntertainmentEnterprises Ltd.


0.59%




Sanofi India Ltd. Pharmaceuticals 0.36%




Total 4.07%

MONEY MARkET INSTRUMENTCertificate of Deposit**

SD Corporation Pvt. Ltd. [ICRA]A1+ 7.68%

Total 7.68%CENTRAL GOVERNMENT SECURITIES

8.60% CGL 2028 Sovereign 13.02%





Total 27.88%BONDS & NCDsListed / awaiting listing on the stock exchangesIIFL Facilities Services Ltd. [ICRA]AA 8.84%

Capital First Ltd. CARE AA+ 8.19%

Muthoot Fincorp Ltd. CRISIL A 6.57%

Power Finance Corporation Ltd. CRISIL AAA 5.41%

Rural ElectrificationCorporation Ltd.

CRISIL AAA 3.74%

India Infoline HousingFinance Ltd.

[ICRA]AA 2.79%

Power Grid Corporation of India Ltd.

CRISIL AAA 2.60%

IDBI Bank Ltd. CRISIL A 2.00%

India Infoline Housing Finance Ltd.

[ICRA]AA 0.96%

Total 41.10%


Total 8.98%



Total 10.29%

Grand Total 100.00%

**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

RATING PROFILE

27.88%

19.27%

12.59%

11.75%

8.57%

8.19%

7.68%

1.08%

0.71%

0.64%

0.59%

0.47%

0.36%

0.22%

Sovereign

Cash & Equivalent

[ICRA]AA

CRISIL AAA

CRISIL A

CARE AA+

[ICRA]A1+

Banks

Finance

Software


Gas

Pharmaceuticals

Auto

INSTRUMENTS

41.10%

27.88%

10.29%

8.98%

7.68% 4.07% BONDS & NCDs

CENTRALGOVERNMENTSECURITIESCash & CashEquivalents

CBLO / Reverse RepoInvestments

Commercial Paper

EQUITY & EQUITYRELATED

An Open Ended Income Scheme with no assured returns.(Monthly income is not assured and is subject to the availability of distributable surplus.)

11

30th April, 2016


Baroda Pioneer Credit Opportunities Fund


This product is suitable for investors who are seeking*• Income over medium term.• Investment in a mix of debt and money market

instruments across the credit and maturity spectrum.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The primary objective of the Scheme is to generate returns by investing in debt and money market instruments across the credit spectrum. There is no assurance or guarantee that the investment objective of the Scheme will be realized.

FUND DETAILS

Type of Scheme An Open Ended Debt Scheme

Date of Allotment January 23, 2015

Fund Manager Mr. Alok Sahoo#

(Experience 13 yrs), Ms. Hetal Shah#

(Experience 12 yrs)

Benchmark CRISIL Short Term Bond Fund Index


106.71 Crs



Entry Load NA

Exit Load 1%, if redeemed on or before 365 days from the date of allotment of Units. Nil, if redeemed after 365 days from the date of allotment of Units.


Options • Growth• Monthly Dividend 1.Payout 2.Reinvestment• Quarterly Dividend 1.Payout 2.Reinvestment• Bonus Option$



Average Maturity (Days) 911.20 Modified Duration (Years) 1.95 Portfolio Yield (%) 9.88

TOTAL EXPENSE RATIO

Plan A 1.55%Plan B (Direct) 0.75%

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

PORTFOLIO


% to Net Assets

MONEY MARkET INSTRUMENT

Commercial Paper**Peninsula Land Ltd. [ICRA]A1 8.11%


Total 11.31%

CENTRAL GOVERNMENT SECURITIES7.59% CGL 2029 Sovereign 4.24%



Total 9.47%

BONDS & NCDsListed / awaiting listing on the stock exchanges


IIFL Facilities Services Ltd. [ICRA]AA 9.20%


CRISIL AA- 8.74%

Edelweiss CommoditiesServices Ltd.

[ICRA]AA 8.54%

Aspire Home FinanceCorporation Ltd.

CRISIL A+ 6.89%

Piramal Enterprises Ltd. [ICRA]AA 5.10%

JSW Steel Ltd. CARE AA- 4.24%

Vedanta Ltd. CRISIL AA- 4.15%



Aspire Home FinanceCorporation Ltd.

CRISIL A+ 1.70%



Indiabulls Housing Finance Ltd. CARE AAA 0.34%


Total 65.28%

CBLO /Reverse Repo investments 10.35%

Total 10.35%



Total 3.59%

Grand Total 100.00%


RATING PROFILE

24.97%

13.94%

13.55%

10.24%

9.47%

8.59%

8.11%

7.33%

3.20%

0.34%

0.26%

[ICRA]AA

Cash & Equivalent

CRISIL AA-

CRISIL A

Sovereign

CRISIL A+

[ICRA]A1

CARE AA-

[ICRA]A1+

CARE AAA

CARE AA+

INSTRUMENTS

65.28%

11.31%

10.35%

9.47%3.59%

BONDS & NCDs

Commercial Paper


CENTRALGOVERNMENTSECURITIESCash & CashEquivalents

NAV AS ON 29 APRIL 2016

NAV (Per Unit) `Plan ABonus NAGrowth 11.2418Dividend - Quarterly 10.3705Dividend - Monthly 10.5156Plan B - DirectBonus 11.3949Growth 11.3949Dividend - Quarterly 10.5196Dividend - Monthly 10.6831

An Open Ended Debt Scheme

12

30th April, 2016


Baroda Pioneer Gilt Fund


This product is suitable for investors who are seeking*• Credit risk free regular Income over long term• Investment only in Government (both Central and State

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


To generate income by investing in a portfolio of Government securities.

FUND DETAILS

Type of Scheme An Open Ended Gilt Scheme

Date of Allotment March 21, 2002


(Experience 12 yrs)

Benchmark I SEC-MI BEX


59.47 Crs



Entry Load Nil

Exit Load 0.25% if redeemed on or before 1 month (30 days) from the date of allotment. Nil if redeemed after 1 month (30 days) from the date of allotment


Options • Growth• Dividend 1 .Payout 2 .Reinvestment• Bonus Option$



NAV (Per Unit) `Plan AGrowth 23.5101Dividend 19.1986Plan B - DirectGrowth 24.2763Dividend 21.0166



TOTAL EXPENSE RATIO


PORTFOLIO


% to Net Assets

CENTRAL GOVERNMENT SECURITIES

7.88% CGL 2030 Sovereign 19.16%

7.59% CGL 2029 Sovereign 15.04%

7.59% CGL 2026 Sovereign 12.97%




9.39% SDL 2023 Sovereign 4.60%




Total 80.85%


Total 0.85%



Total 18.30%

Grand Total 100.00%


RATING PROFILE

80.85%

19.15%

Sovereign

Cash & Equivalent

INSTRUMENTS

80.85%

18.30%0.85%

CENTRALGOVERNMENTSECURITIES

Cash & CashEquivalents


$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

An Open Ended Gilt Scheme

13

30th April, 2016


Baroda Pioneer Income Fund


This product is suitable for investors who are seeking*• Regular Income over long term• Investment predominantly in good quality Fixed Income

Securities by maintaining a balance between Risk & Return.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


To generate regular income by investing in a portfolio of good quality Fixed Income Securities by maintaining a balance between Risk & Return.

FUND DETAILS

Type of Scheme An Open Ended Income Scheme

Date of Allotment March 21, 2002


(Experience 12 yrs)

Benchmark CRISIL Composite Bond Fund Index


25.61 Crs



Entry Load Nil

Exit Load 1% if redeemed on or before 365 days from the date of allotment. Nil if redeemed after 365 days from the date of allotment


Options • Growth• Dividend 1.Payout 2.Reinvestment• Bonus Option$






TOTAL EXPENSE RATIO


PORTFOLIO


% to Net Assets


7.59% CGL 2029 Sovereign 17.73%











Total 71.88%

BONDS & NCDs



Vijaya Bank [ICRA]AA- 7.77%

Power Grid Corporation of India Ltd.

CRISIL AAA 4.02%

Rural Electrification Corporation Ltd.

CRISIL AAA 4.01%

Total 25.09%


Total 1.13%



Total 1.90%

Grand Total 100.00%


RATING PROFILE

71.88%

9.29%

8.03%

7.77%

3.03%

Sovereign

CRISIL A

CRISIL AAA

[ICRA]AA-

Cash & Equivalent

INSTRUMENTS

71.88%

25.09%

1.90% 1.13%CENTRALGOVERNMENTSECURITIES

BONDS & NCDs



$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

An Open Ended Income Scheme

14

30th April, 2016


Baroda Pioneer Dynamic Bond Fund


This product is suitable for investors who are seeking*• Regular Income over medium term with providing

liquidity• Investment in medium to long term corporate bonds

and / or government securities and manage the portfolio dynamically through different interest rate cycles* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The investment objective of the scheme is to generate returns with liquidity by managing the portfolio dynamically through interest rate cycles.

FUND DETAILS



Fund Manager Mr. Alok Sahoo# (Experience 13 yrs), Ms. Hetal Shah# (Experience 12 yrs)

Benchmark CRISIL Composite Bond Fund Index




Entry Load Nil

Exit Load 0.50% if redeemed within 3 months from the date of allotment of units, Nil if redeemed after 3 months from the date of allotment of units


Options • Growth• Dividend 1. Payout 2. Reinvestment• Bonus Option$






TOTAL EXPENSE RATIO


PORTFOLIO


% to Net Assets


9.72% SDL 2023 Sovereign 19.88%

8.17% CGL 2044 Sovereign 18.86%

7.59% CGL 2029 Sovereign 18.54%




Total 73.69%

BONDS & NCDs


Vijaya Bank [ICRA]AA- 10.75%



L&T Finance Ltd. [ICRA]AA+ 0.91%

Total 22.94%


Total 1.46%



Total 1.91%

Grand Total 100.00%


RATING PROFILE

73.69%

10.75%

7.71%

3.57%

3.37%

0.91%

Sovereign

[ICRA]AA-

CARE AA-

CRISIL A

Cash & Equivalent

[ICRA]AA+

INSTRUMENTS

73.69%

22.94%

1.91% 1.46%

CENTRALGOVERNMENTSECURITIES

BONDS & NCDs



$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22


15

30th April, 2016


Baroda Pioneer Short Term Bond Fund

Investors understand that their principal will be at Moderately Low risk

This product is suitable for investors who are seeking*• Regular Income over short term• Investment predominantly in Money Market Instruments

(i.e. CP/CD) and Short Term Debt Market Instruments* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The objective of the Scheme is to generate income from a portfolio constituted of short term debt and money market securities.

FUND DETAILS



Fund Manager Mr. Alok Sahoo# (Experience 13 yrs), Ms. Hetal Shah# (Experience 12 yrs)

Benchmark CRISIL Short Term Bond Fund Index




Entry Load Nil

Exit Load 0.25% if redeemed on or before 15 days from the date of allotment. Nil if redeemed after 15 days from the date of allotment*


Options • Growth• Dividend 1. Payout 2. Reinvestment• Bonus Option$






TOTAL EXPENSE RATIO


PORTFOLIO


% to Net Assets


Certificate of Deposit**

Edelweiss Agri ValueChain Ltd.

CRISIL A1+ 8.31%

Edelweiss Commodities Services Ltd.

CRISIL A1+ 4.74%


Total 16.42%

BONDS & NCDs


Indiabulls HousingFinance Ltd.

CARE AAA 7.19%






Power Grid Corporationof India Ltd.

CRISIL AAA 4.87%

Power FinanceCorporation Ltd.

CRISIL AAA 4.50%


CRISIL AA- 3.13%

Aspire Home Finance Corporation Ltd.

CRISIL A+ 1.80%

India Infoline Finance Ltd. [ICRA]AA 1.69%


CRISIL AAA 1.21%


CRISIL AAA 0.73%

Power Grid Corporationof India Ltd.

CRISIL AAA 0.61%


Indiabulls HousingFinance Ltd.

CARE AAA 0.12%

Total 55.89%

Unlisted


Total 2.64%


Total 22.34%



Total 2.71%

Grand Total 100.00%


RATING PROFILE

25.05%

14.02%

13.05%

11.92%

9.19%

7.31%

6.26%

5.39%

3.37%

2.64%

1.80%

Cash & Equivalent

[ICRA]AA

CRISIL A1+

CRISIL AAA

CRISIL AA-

CARE AAA

CARE AA-

CARE AA+

[ICRA]A1+

CRISIL A

CRISIL A+

INSTRUMENTS

55.89%2.71% 2.64%

BONDS & NCDs


Commercial Paper


Unlisted

22.34%

16.42%


* With effect from 3rd august 2015 exit load has been changed$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 # For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

16

30th April, 2016


[ICRA] A1+ mfs*Baroda Pioneer Treasury Advantage Fund

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Treasury Advantage Fund (earlier called Institutional Plan) *For Disclaimer please refer page no 22# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

Investors understand that their principal will be at Moderately Low risk

This product is suitable for investors who are seeking*• Regular income over short term with maintaining a

balance between returns and liquidity• Investment predominantly in Money Market (i.e. CP/

CDs) and Debt Market Instruments* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The main objective of the scheme is to provide optimal returns and liquidity through a portfolio comprising of debt securities and money market instruments

FUND DETAILS

Type of Scheme An Open Ended Debt Scheme


Fund Manager Mr. Alok Sahoo#

(Experience 13 yrs), Ms. Hetal Shah#

(Experience 12 yrs)

Benchmark CRISIL Liquid Fund Index


1341.15 Crs



Entry Load Nil

Exit Load Nil


Options

• Growth • Daily Dividend 1 .Reinvestment • Weekly Dividend 2 .Payout 3 .Reinvestment • Monthly Dividend 1 .Payout 2 .Reinvestment• Quarterly Dividend 1.Payout 2 .Reinvestment• Bonus Option$





PORTFOLIO


% to Net Assets


Certificate of Deposit**Corporation Bank CRISIL A1+ 6.46%Bank Of Maharashtra CRISIL A1+ 4.05%IDBI Bank Ltd. CRISIL A1+ 3.90%State Bank of Hyderabad [ICRA]A1+ 1.56%Canara Bank CRISIL A1+ 0.99%Total 16.96%Commercial Paper**Edelweiss Commodities Services Ltd. CRISIL A1+ 4.33%

Peninsula Land Ltd. [ICRA]A1 3.80%



Total 13.81%

Fixed Deposit

RBL Bank Ltd. Unrated 0.93%

Bandhan Bank Ltd. Unrated 0.46%

Total 1.39%

BONDS & NCDs




India Infoline Housing Finance Ltd. [ICRA]AA 3.75%




Aspire Home Finance Corporation Ltd. CRISIL A+ 3.09%











Aspire Home Finance Corporation Ltd. CRISIL A+ 1.14%


India Infoline Housing Finance Ltd. CRISIL AA- 0.83%


Rural Electrification Corporation Ltd. CRISIL AAA 0.51%

Nabha Power Ltd. [ICRA]AAA 0.48%


Steel Authority of India Ltd. IND AA 0.33%

Nabha Power Ltd. [ICRA]AAA 0.33%

Power Grid Corporation of India Ltd. CRISIL AAA 0.30%Cholamandalam Investment andFinance Company Ltd.

[ICRA]AA 0.22%

Power Grid Corporation of India Ltd. CRISIL AAA 0.19%

NHPC Ltd. [ICRA]AAA 0.17%


Total 49.19%UnlistedMuthoot Fincorp Ltd. CRISIL A 2.85%

Powergrid Vizag Transmission Ltd. CRISIL AAA 0.67%

Total 3.52%


Total 13.00%



Total 2.13%

Grand Total 100.00%


RATING PROFILE

22.73%

19.73%

15.13%

8.62%

7.24%

5.74%

4.23%

4.02%

3.80%

2.90%

2.33%

1.39%

0.98%

0.83%

0.33%

[ICRA]AA

CRISIL A1+

Cash & Equivalent

CARE AA+

[ICRA]A1+

CRISIL AAA

CRISIL A+

CRISIL A

[ICRA]A1

CARE AAA

CARE AA-

Unrated

[ICRA]AAA

CRISIL AA-

IND AA

INSTRUMENTS

49.19%16.96%

13.81%

13.00%

3.52% 2.13%1.39% BONDS & NCDs

Certificate of Deposit

Commercial Paper

CBLO / Reverse RepoInvestmentsUnlisted

Cash & CashEquivalentsFixed Deposit


NAV (Per Unit) `RegularGrowth 1701.5954Dividend - Daily 1002.7120Dividend - Weekly 1003.1778Dividend - Monthly 1004.6031Dividend - Quarterly 1155.4017Plan ABonus 1725.1295Growth 1737.7180Dividend - Daily 1027.4856Dividend - Weekly 1020.3577Dividend - Monthly 1004.8251Dividend - Quarterly

Plan B - DirectBonus 1754.3860Growth 1754.5274Dividend - Daily 1008.8997Dividend - Weekly 1003.3071Dividend - Monthly 1004.9413Dividend - Quarterly 1014.3283

1014.0416

An Open Ended Debt Scheme

17

30th April, 2016


[ICRA] A1+ mfs*Baroda Pioneer Liquid Fund

$ The Bonus Option in the Schemes has been discontinued effective June 08, 2015 Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Liquid Fund (earlier called Institutional Plan) *For Disclaimer please refer page no 22**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

Investors understand that their principal will be atLow risk

This product is suitable for investors who are seeking*

• Regular income over short term with high level of liquidity

• Investment predominantly in Money Market (i.e. CP / CDs) Instruments* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


To generate income with a high level of liquidity by investing in a portfolio of money market and debt securities.

FUND DETAILS

Type of Scheme An Open Ended Liquid Scheme

Date of Allotment February 5, 2009

Fund Manager Mr. Alok Sahoo(Experience 13 yrs), Ms. Hetal Shah(Experience 12 yrs)

Benchmark CRISIL Liquid Fund Index


5525.62 Crs



Entry Load Nil

Exit Load Nil


Options • Growth• Daily Dividend 1.Reinvestment• Weekly Dividend 2.Payout 3.Reinvestment• Bonus Option$




TOTAL EXPENSE RATIO


PORTFOLIO


% to Net Assets


Certificate of Deposit**

Axis Bank Ltd. CRISIL A1+ 3.65%

IDBI Bank Ltd. CRISIL A1+ 2.56%

IndusInd Bank Ltd. CRISIL A1+ 1.83%

Axis Bank Ltd. CRISIL A1+ 1.83%

UCO Bank CRISIL A1+ 1.82%

IDBI Bank Ltd. CRISIL A1+ 1.82%

IndusInd Bank Ltd. CRISIL A1+ 1.82%

IDFC Bank Ltd. CRISIL A1+ 1.82%

Corporation Bank CRISIL A1+ 1.37%

Bank Of Maharashtra CRISIL A1+ 0.70%

Vijaya Bank CRISIL A1+ 0.46%

Canara Bank CRISIL A1+ 0.18%

Union Bank Of India CRISIL A1+ 0.06%

Total 19.92%

Commercial Paper**

Larsen & Toubro Ltd. CRISIL A1+ 6.39%

Chambal Fertilisers and Chemicals Ltd. CRISIL A1+ 5.48%

Vedanta Ltd. CRISIL A1+ 5.45%

Piramal Enterprises Ltd. [ICRA]A1+ 5.43%

Edelweiss Agri Value Chain Ltd. CRISIL A1+ 4.56%

India Infoline Housing Finance Ltd. [ICRA]A1+ 3.65%

Export-Import Bank Of India CRISIL A1+ 3.65%

National Bank For Agriculture andRural Development CRISIL A1+ 3.64%

Edelweiss Commodities Services Ltd. CRISIL A1+ 2.74%


IL&FS Financial Services Ltd. CARE A1+ 2.72%

Edelweiss Agri Value Chain Ltd. CRISIL A1+ 2.61%

IIFL Facilities Services Ltd. [ICRA]A1+ 2.54%

Trapti Trading & Investments Private Ltd. [ICRA]A1+ 1.84%

Power Finance Corporation Ltd. CRISIL A1+ 1.84%

India Infoline Finance Ltd. [ICRA]A1+ 1.83%

Power Finance Corporation Ltd. CRISIL A1+ 1.83%


Edelweiss Housing Finance Ltd. CRISIL A1+ 1.36%

SD Corporation Pvt. Ltd. CARE A1+ 0.91%

Motilal Oswal Financial Services Ltd. CRISIL A1+ 0.91%

SD Corporation Pvt. Ltd. CARE A1+ 0.45%

Kotak Commodity Services Private Ltd. [ICRA]A1+ 0.45%

Total 64.83%

Fixed Deposit


IndusInd Bank Ltd. Unrated 1.84%




Total 8.28%

CBLO /Reverse Repo investments 6.85%

Total 6.85%



Total 0.12%

Grand Total 100.00%


RATING PROFILE

64.93%

15.74%

8.28%

6.97%

4.08%

CRISIL A1+

[ICRA]A1+

Unrated

Cash & Equivalent

CARE A1+

INSTRUMENTS

64.83%

19.92%

8.28%

6.85% 0.12%Commercial Paper

Certificate ofDeposit

Fixed Deposit




NAV (Per Unit) `RegularGrowth 2567.9226

Dividend 2200.0834Dividend - Daily 1006.0600Plan AGrowth 1735.6846Dividend - Daily 1001.3432Dividend - Weekly 1002.1957Plan B - DirectBonus 1740.8882Growth 1740.5902Dividend - Daily 1001.6753Dividend - Weekly 1226.8405

An Open Ended Liquid Scheme

18

30th April, 2016


Investment Performance

Funds Managed by Mr. Sanjay Chawla & Mr. Dipak Acharya

Date Of Inception: 12/09/2003 Mar 2015 - Mar 2016&

Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&

Since Inception@Scheme Name & Benchmark

Nav Per Unit (`) 79.06 55.48 46.93 10.00

Baroda Pioneer Growth Fund (in %)^ -9.50 42.50 18.22 16.96

Nifty 100 (Scheme Benchmark) (in %) -8.07 29.14 18.25 15.30

Nifty 50 (Standard Benchmark) (in %)$ -8.86 26.65 17.98 14.77

` 10,000, if invested in BPGF, would have become NA NA NA `71,550

` 10,000, if invested in Nifty 100, would have become NA NA NA `59,802

` 10,000, if invested in Nifty 50, would have become NA NA NA `56,398

^Past performance may or may not be sustained in the future.Data is for Growth Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs. @Since Inception returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 31.95 23.76 21.41 10.00

Baroda Pioneer ELSS’ 96 Fund (in %)^ -11.14 43.22 19.95 12.32

S&P BSE Sensex (Scheme Benchmark) (in %) -9.36 24.89 18.85 10.61


`10,000, if invested in BPELSS’96F, would have become NA NA NA `1,02,362

`10,000, if invested in S&P BSE Sensex, would have become NA NA NA `75,274

`10,000, if invested in Nifty 50, would have become NA NA NA `78,539

^Past performance may or may not be sustained in the future.Data is for Dividend Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs. @Since Inception returns are Compounded Annualised are calculated on the basis of `10 invested at inception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 43.49 33.63 29.11 10.00

Baroda Pioneer Balance Fund (in %)^ -5.24 29.32 15.53 11.94

CRISIL Balanced Fund Aggressive index (effective April 4, 2016) (Scheme Benchmark) (in %) -2.90 22.53 13.40 12.21


`10,000, if invested in BPBF, would have become NA NA NA `41,210

`10,000, if invested in CRISIL Balanced Fund Aggressive index (effective April 4, 2016), would have become NA NA NA `42,475



Funds Managed by Mr. Dipak Acharya


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 16.02 11.23 10.69 10.00

Baroda Pioneer Banking and Financial Services Fund (in %)^ -13.48 42.65 5.05 9.03

Nifty Bank Index (Scheme Benchmark) (in %) -11.34 42.89 12.15 13.41


`10,000, if invested in BPBFSF, would have become NA NA NA `13,860

`10,000, if invested in Nifty Bank Index, would have become NA NA NA `16,080



19

30th April, 2016



Funds Managed by Mr. Dipak Acharya


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 12.20 8.32 6.99 10.00

Baroda Pioneer Infrastructure Fund (in %)^ -16.64 46.63 19.03 0.29

Nifty Infrastructure (Scheme Benchmark) (in %) -21.59 24.27 18.34 -4.73


`10,000, if invested in BPIF, would have become NA NA NA `10,170

`10,000, if invested in Nifty Infrastructure would have become NA NA NA `7,557




Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 8.33 6.71 6.62 10.00

Baroda Pioneer PSU Equity Fund (in %)^ -19.81 24.14 1.36 -7.08

S&P BSE PSU (Scheme Benchmark) (in %) -19.73 19.72 -1.95 -9.44


`10,000, if invested in BPPSUEF, would have become NA NA NA `6,680

`10,000, if invested in S&P BSE PSU, would have become NA NA NA `5,802




Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 14.50 13.21 12.23 10.00

Baroda Pioneer Short Term Bond Fund (in %)^ 8.29 9.80 7.96 8.16

CRISIL Short Term Bond Fund Index (Scheme Benchmark) (in %) 8.47 10.33 8.86 8.46

CRISIL 1 year T-Bill (Standard Benchmark) (in %)$ 7.69 8.74 5.84 7.04

`10,000, if invested in BPSTBF, would have become NA NA NA `15,703

`10,000, if invested in CRISIL Short Term Bond Fund Index, would have become NA NA NA `15,956

`10,000, if invested in CRISIL 1 year T-Bill, would have become NA NA NA `14,796


Funds Managed by Mr. Alok Sahoo, Ms Hetal Shah

20


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 1602.38 1470.62 1343.35 1000.00

Baroda Pioneer Liquid Fund (in %)^ 8.32 8.96 9.47 8.01

CRISIL Liquid Fund Index (Scheme Benchmark) (in %) 8.06 8.98 9.54 7.57

CRISIL 1 year T-Bill (Standard Benchmark) (in%)$ 7.69 8.74 5.84 6.13

`10,000, if invested in BPLF, would have become NA NA NA `17,357

`10,000, if invested in CRISIL Liquid Fund Index, would have become NA NA NA `16,851

`10,000, if invested in CRISIL 1 year T-Bill, would have become NA NA NA `15,305


30th April, 2016



Funds Managed by Mr. Alok Sahoo, Ms. Hetal Shah


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 1593.52 1458.73 1331.65 1000.00

Baroda Pioneer Treasury Advantage Fund (in %)^ 9.05 9.24 9.54 8.50

CRISIL Liquid Fund Index (Scheme Benchmark) (in %) 8.06 8.98 9.54 7.62


`10,000, if invested in BPTAF, would have become NA NA NA `17,377

`10,000, if invested in CRISIL Liquid Fund Index, would have become NA NA NA `16,445

`10,000, if invested CRISIL 1 year T-Bill, would have become NA NA NA `15,101


Date of Inception: 23/01/2015 Mar 2015 - Mar 2016&

Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 10.24 NA NA 10.00

Baroda Pioneer Credit Opportunities Fund (in %)^ 9.80 NA NA 10.37

CRISIL Short Term Bond Fund Index (Scheme Benchmark) (in %) 8.47 NA NA 8.52

CRISIL 1 year T-Bill (Standard Benchmark) (in %)$ 7.69 NA NA 7.85

`10,000, if invested in BPCOF, would have become NA NA NA `11,242

`10,000, if invested in CRISIL Short Term Bond Fund Index, would have become NA NA NA `11,018




Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 18.61 16.01 14.79 10.00

Baroda Pioneer Monthly Income Plan (MIP) Fund (in %)^* 3.27 16.26 8.25 5.81

CRISIL MIP Blended Index (Scheme Benchmark) (in %) 5.67 16.45 6.52 8.26

CRISIL 10 Year Gilt Index (Standard Benchmark) (in %)$ 7.97 14.57 -0.96 5.77

`10,000, if invested in BPMIPF, would have become NA NA NA `19,220

`10,000, if invested in CRISIL MIP Blended Index, would have become NA NA NA `25,053

`10,000, if invested in CRISIL 10 Year Gilt Index, would have become NA NA NA `19,142

^Past performance may or may not be sustained in the future.Data is for Growth Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs. @Since Inception returns are Compounded Annualised and are calculated on the basis of `10 invested at in-ception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.

Funds Managed by Ms. Hetal Shah

21

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

Date of Inception: 30/06/2012 Mar 2015 - Mar 2016&

Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 13.06 11.23 10.74 10.00

Baroda Pioneer Dynamic Bond Fund (in %)^ 6.98 16.29 4.59 9.32

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 8.24 14.59 4.39 9.05


`10,000, if invested in BPDBF, would have become NA NA NA `13,970

`10,000, if invested in CRISIL Composite Bond Fund Index, would have become NA NA NA `13,841



30th April, 2016



Funds Managed by Ms. Hetal Shah


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 21.94 19.09 18.32 10.00

Baroda Pioneer Income Fund (in %)^ 5.69 14.92 4.19 6.17

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 8.24 14.59 4.39 6.86

CRISIL 10 Year Gilt Index (Standard Benchmark) (in %)$ 7.97 14.57 -0.96 6.57

`10,000, if invested in BPIF, would have become NA NA NA `23,190

`10,000, if invested in CRISIL Composite Bond Fund Index, would have become NA NA NA `25,390



Disclaimer Nifty Bank Index, Nifty 100 and Nifty Infra: Baroda Pioneer Growth Fund, Baroda Pioneer Infrastructure Fund and

Baroda Pioneer Banking and Financial Services Fund (“said Schemes”) offered by Baroda Pioneer Mutual Fund are not sponsored,

endorsed, sold or promoted by India Index Services & Products Limited (“IISL”). IISL does not make any representation or warranty,

express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the

owners of the said Schemes or any member of the public regarding the advisability of investing in securities generally or in the said

Schemes linked to Nifty Infra, Nifty 100 and Nifty Bank Index or particularly in the ability of the Nifty Infra, Nifty 100 and Nifty Bank

Index to track general stock market performance in India. Please read the full disclaimers in relation to the Nifty Infra, Nifty 100

and Nifty Bank Index in the Offer Document / Prospectus / Information Statement.

*ICRA Credit Ratings: The rating indicates highest-credit quality rating assigned by ICRA Ltd. to debt funds. 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. This rating should however not be construed as an indication of the performance of the Mutual Fund scheme or of

volatility in its returns. The rating should not be treated as a recommendation to buy, sell or hold the units issued by the Mutual

Fund.

22


Mar 2014 - Mar 2015&

Mar 2013 - Mar 2014&


Nav Per Unit (`) 22.09 19.08 18.23 10.00

Baroda Pioneer Gilt Fund (in %)^ 6.41 15.83 4.62 6.28

I-Sec Mi-BEX (Scheme Benchmark) (in %) 9.01 14.37 5.14 7.69

CRISIL 10 Year Gilt Index (Standard Benchmark)$ 7.97 14.57 -0.96 6.57

`10,000, if invested in BPGF, would have become NA NA NA `23,510

`10,000, if invested in I-Sec Mi-BEX, would have become NA NA NA `28,286



30th April, 2016


SIP Returns

23

Baroda Pioneer Growth Fund 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 15,10,000

Total Value as on Mar 31, 2016 (Rs) 1,13,509 4,14,979 7,82,626 11,53,142 19,71,702 34,98,000

Returns (%) -9.88 9.46 10.57 8.91 9.59 12.56

Total Values of Nifty 100 (Rs) 1,15,278 3,96,383 7,52,958 11,40,909 18,92,373 31,70,365

Nifty 100 Returns (%) -7.22 6.36 9.02 8.61 8.82 11.14

Total Value of Nifty 50 (Rs) 1,15,374 3,89,546 7,34,998 11,10,053 18,24,867 30,59,749

Nifty 50 Returns (%) -7.07 5.19 8.05 7.84 8.13 10.63

Baroda Pioneer ELSS’ 96 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception


Total Value as on Mar 31, 2016 (Rs) 1,13,044 4,11,202 7,86,601 11,74,388 18,76,822 1,03,90,994

Returns (%) -10.58 8.84 10.78 9.42 8.66 13.10

Total Values of S&P BSE SENSEX (Rs) 1,14,624 3,83,196 7,24,800 10,93,213 17,87,189 92,44,298

S&P BSE SENSEX Returns (%) -8.21 4.10 7.49 7.41 7.73 12.13


Nifty 50 Returns (%) -7.07 5.19 8.05 7.84 8.13 12.17

Baroda Pioneer PSU Equity Fund 1 Year 3 Years 5 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 6,60,000

Total Value as on Mar 31, 2016 (Rs) 1,04,346 3,33,392 5,48,640 5,91,844

Returns (%) -23.27 -4.93 -3.51 -3.90

Total Values of S&P BSE PSU (Rs) 1,04,907 3,23,915 5,20,152 5,58,868

S&P BSE PSU Returns (%) -22.47 -6.74 -5.60 -5.95

Total Value of Nifty 50 (Rs) 1,15,374 3,89,546 7,34,998 8,14,058

Nifty 50 Returns (%) -7.07 5.19 8.05 7.55

Baroda Pioneer InfrastructureFund

1 Year 3 Years 5 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 6,00,000 7,00,000

Total Value as on Mar 31, 2016 (Rs) 1,09,451 3,99,521 7,10,324 8,11,604

Returns (%) -15.89 6.89 6.69 5.01

Total Values of Nifty Infra (Rs) 1,05,552 3,38,256 5,76,770 6,52,327

Nifty Infra Returns (%) -21.54 -4.01 -1.55 -2.39

Total Value of Nifty 50 (Rs) 1,15,374 3,89,546 7,34,998 8,71,771

Nifty 50 Returns (%) -7.07 5.19 8.05 7.44

Baroda Pioneer Banking andFinancial Services Fund

1 Year 3 Years Since Inception

Total Amount Invested (Rs) 1,20,000 3,60,000 4,60,000

Total Value as on Mar 31, 2016 (Rs) 1,11,157 3,94,887 5,24,646

Returns (%) -13.38 6.10 6.82

Total Values of Nifty Bank Index (Rs) 1,12,262 4,09,997 5,54,556

Nifty Bank Index Returns (%) -11.74 8.64 9.74

Total Value of Nifty 50 (Rs) 1,15,374 3,89,546 5,28,593

Nifty 50 Returns (%) -7.07 5.19 7.21

Baroda Pioneer Balance Fund 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception



Returns (%) -5.21 7.94 9.52 8.89 7.78 8.91

Total Values of CRISIL BalancedFund Index (Rs)

1,19,050 4,00,780 7,47,944 11,32,882 18,70,270 29,00,068

CRISIL Balanced Fund Index Returns (%) -1.47 7.10 8.75 8.41 8.59 9.85


Nifty 50 Returns (%) -7.07 5.19 8.05 7.84 8.13 10.63

Baroda Pioneer Monthly Income Plan (MIP) Fund*

1 Year 3 Years 5 Years 7 Years 10 Years Since Inception



Returns (%) 3.31 8.36 8.51 7.87 6.70 6.39

Total Values of CRISIL MIP Blended Index (Rs)

1,24,220 4,14,689 7,57,440 11,44,168 18,46,115 22,91,914

CRISIL MIP Blended Index Returns 6.61 9.42 9.26 8.69 8.35 8.30

Total Value of CRISIL 10 Year Gilt Index Returns (%) (Rs)

1,26,154 4,14,074 7,37,356 10,88,115 17,13,861 20,84,478

CRISIL 10 Year Gilt Index Returns (%) 9.68 9.31 8.18 7.28 6.93 6.76

* Monthly income is not assured and is subject to the availability of distributable surplus.^Past performance may or may not be sustained in the future.For SIP calculations above, the data assumes the investment of ` 10000/- on 1st day of every month or the subsequent working day. Load & Taxes are not considered for computation of returns. Performance for dividend option would assume reinvestment of tax free dividends declared at the then prevailing NAV.CAGR returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return).Where Benchmark returns are not available, they have not been shown.

30th April, 2016


Record Date Ex-Dividend Date Dividend (Rs)Ex-Dividend NAV

(Rs)Per Unit$ (Rs)

Baroda Pioneer Growth Fund - Plan A - Dividend24-Jul-15 24-Jul-2015 35.00 39.49 3.50

17-Feb-14 17-Feb-2014 25.00 24.67 2.50

01-Mar-13 01-Mar-2013 10.00 26.82 1.00

Baroda Pioneer Growth Fund - Plan B - Direct - Dividend24-Jul-15 24-Jul-2015 35.00 38.61 3.50

17-Feb-14 17-Feb-2014 25.00 25.02 2.50

01-Mar-13 01-Mar-2013 10.00 26.81 1.00

Baroda Pioneer ELSS 96 - Plan A - Dividend22-Mar-16 23-Mar-16 25.00 28.50 2.50

23-Feb-15 23-Feb-15 22.50 32.32 2.25

14-Mar-14 14-Mar-14 20.00 22.73 2.00

Baroda Pioneer ELSS 96 - Plan B - Direct - Dividend23-Feb-15 23-Feb-15 22.50 33.19 2.25

14-Mar-14 14-Mar-14 20.00 23.15 2.00

01-Feb-13 01-Feb-13 15.00 23.06 1.50

Baroda Pioneer Infrastructure Fund - Plan A - Dividend09-Jan-15 09-Jan-2015 9.00 10.38 0.90

Baroda Pioneer Infrastructure Fund - Plan B - Direct - Dividend09-Jan-15 09-Jan-2015 9.00 10.54 0.90

Baroda Pioneer Banking and Financial Services Fund - Plan A - Dividend09-Sep-14 09-Sep-2014 10.00 13.29 1.00

Baroda Pioneer Banking and Financial Services Fund - Plan B - Direct - Dividend09-Sep-14 09-Sep-2014 10.00 13.46 1.00

Baroda Pioneer Balance Fund - Plan A- Dividend22-Mar-16 23-Mar-16 10.00 17.11 1.0030-Dec-15 30-Dec-2015 15.00 19.33 1.50

24-Sep-15 28-Sep-2015 19.00 21.02 1.90

Baroda Pioneer Balance Fund - Plan B - Direct - Dividend22-Mar-16 23-Mar-16 10.00 17.97 1.00

30-Dec-15 30-Dec-2015 15.00 20.18 1.50

24-Sep-15 28-Sep-2015 19.00 21.81 1.90

Baroda Pioneer MIP Fund - Plan A - Monthly Dividend*22-Mar-16 23-Mar-16 0.48 13.04 0.05

25-Feb-16 25-Feb-16 0.48 12.91 0.05

22-Jan-16 25-Jan-16 0.48 13.04 0.05

Baroda Pioneer MIP Fund - Plan B - Direct - Monthly Dividend*22-Mar-16 23-Mar-16 0.48 13.19 0.05

25-Feb-16 25-Feb-16 0.48 13.04 0.05

22-Jan-16 25-Jan-16 0.48 13.17 0.05

Baroda Pioneer MIP Fund - Plan A - Quarterly Dividend*22-Mar-16 23-Mar-16 1.44 12.83 0.14

25-Jan-16 25-Jan-16 0.48 13.17 0.05

24-Sep-15 28-Sep-15 1.44 12.99 0.14

Baroda Pioneer MIP Fund - Plan B - Direct - Quarterly Dividend*22-Mar-16 23-Mar-16 1.44 13.00 0.14

30-Dec-15 30-Dec-15 1.44 13.16 0.14

24-Sep-15 28-Sep-15 1.44 13.10 0.14

Baroda Pioneer Credit Opportunities Fund - - Plan A - Quarterly Dividend22-Mar-16 23-Mar-16 1.52 10.5417 0.15

30-Dec-15 30-Dec-15 1.52 10.5284 0.15

24-Sep-15 28-Sep-15 1.52 10.4852 0.15

Baroda Pioneer Credit Opportunities Fund - Plan B - Direct - Quarterly Dividend22-Mar-16 23-Mar-16 1.52 10.6887 0.15

30-Dec-15 30-Dec-15 1.52 10.6471 0.15

24-Sep-15 28-Sep-15 1.52 10.5667 0.15

Baroda Pioneer Credit Opportunities Fund - - Plan A - Monthly Dividend22-Mar-16 23-Mar-16 0.51 10.5465 0.05

25-Feb-16 25-Feb-16 0.51 10.4757 0.05

22-Jan-16 25-Jan-16 0.51 10.5240 0.05

Baroda Pioneer Credit Opportunities Fund - Plan B - Direct - Monthly Dividend22-Mar-16 23-Mar-16 0.51 10.7117 0.05

25-Feb-16 25-Feb-16 0.51 10.6158 0.05

22-Jan-16 25-Jan-16 0.51 10.6533 0.05

Record Date Ex-Dividend Date Dividend (Rs)Ex-Dividend NAV

(Rs)Per Unit$ (Rs)

Baroda Pioneer Dynamic Bond Fund - Plan A- Dividend22-Mar-16 23-Mar-16 5.06 12.5843 0.51

25-Jun-13 25-Jun-13 2.97 10.0000 0.30

22-Mar-13 22-Mar-13 2.08 10.0282 0.21

Baroda Pioneer Dynamic Bond Fund - Plan B - Direct - Dividend22-Mar-16 23-Mar-16 5.06 13.0024 0.51

25-Jun-13 25-Jun-13 3.07 10.0000 0.31

22-Mar-13 22-Mar-13 3.63 10.0286 0.36

Baroda Pioneer Gilt Fund - Plan A - Dividend22-Mar-16 23-Mar-16 8.67 20.3147 0.87

21-Mar-14 21-Mar-14 19.48 16.4233 1.95

Baroda Pioneer Gilt Fund - Plan B - Direct - Dividend21-Mar-14 21-Mar-2014 19.48 16.5462 1.95

Baroda Pioneer Liquid Fund - Plan A - Dividend04-Mar-05 05-Mar-05 3.50 1016.27 35.00

06-Jan-04 07-Jan-04 9.50 1004.32 95.00

13-May-02 14-May-02 0.75 1002.43 7.50

Baroda Pioneer Short Term Bond Fund - Plan A- Dividend28-Mar-16 28-Mar-16 0.26 10.04 0.03

11-Mar-16 14-Mar-16 0.29 10.05 0.03

29-Feb-16 29-Feb-16 0.12 10.02 0.01

Baroda Pioneer Short Term Bond Fund - Plan B - Direct - Dividend28-Mar-16 28-Mar-16 0.28 10.04 0.03

11-Mar-16 14-Mar-16 0.30 10.04 0.03

29-Feb-16 29-Feb-16 0.13 10.02 0.01

Baroda Pioneer Treasury Advantage Fund Reg - Monthly Dividend22-Mar-16 23-Mar-16 0.58 1008.38 5.75

25-Feb-16 25-Feb-16 0.32 1004.70 3.22

22-Jan-16 25-Jan-16 0.45 1006.61 4.54

Baroda Pioneer Treasury Advantage Fund - Plan A - Monthly Dividend22-Mar-16 23-Mar-16 0.62 1009.06 6.21

25-Feb-16 25-Feb-16 0.37 1005.46 3.75

22-Jan-16 25-Jan-16 0.51 1007.45 5.11

Baroda Pioneer Treasury Advantage Fund - Plan B - Direct - Monthly Dividend22-Mar-16 23-Mar-16 0.65 1009.41 6.46

25-Feb-16 25-Feb-16 0.40 1005.87 4.02

22-Jan-16 25-Jan-16 0.54 1007.86 5.40

Baroda Pioneer Treasury Advantage Fund Reg - Quarterly Dividend27-Jun-14 27-Jun-14 2.34 1006.66 23.38

21-Mar-14 21-Mar-14 0.78 1011.22 7.79

27-Dec-13 27-Dec-13 1.64 1000.01 16.44

Baroda Pioneer Treasury Advantage Fund - Plan A - Quarterly Dividend22-Mar-16 23-Mar-16 1.44 1029.62 14.45

30-Dec-15 30-Dec-15 1.44 1029.97 14.45

24-Sep-15 28-Sep-15 1.44 1029.21 14.45

Baroda Pioneer Treasury Advantage Fund -Plan B- Direct - Quarterly Dividend22-Mar-16 23-Mar-16 1.44 1029.80 14.45

30-Dec-15 30-Dec-15 1.66 1032.10 16.61

24-Sep-15 28-Sep-15 1.66 1033.28 16.61

Baroda Pioneer Income Fund - Plan A - Dividend22-Mar-16 23-Mar-16 10.11 23.1386 1.01

Baroda Pioneer Income Fund - Plan B - Direct - Dividend22-Mar-16 23-Mar-16 10.11 23.15 1.01

Dividend History

24

$ Face value is Rs. 10/- in all schemes other than Baroda Pioneer Liquid Fund and Baroda Pioneer Treasury Advantage Fund where the face value is Rs. 1,000/- per unit.

* Monthly income is not assured and is subject to the availability of distributable surplus.# Pursuant to payment of dividend, the NAVs of the schemes would fall to the extent of payout and statutory levy (if applicable).

30th April, 2016

BARODA PIONEER MUTUAL FUND25

karvy Computershare Private LimitedAddress and Contact detailsMFS Branches

• Bangalore [email protected] 080-26600785 • Belgaum [email protected] 0831 2402544 • Bellary [email protected] 08392 – 254750 • Davangere [email protected] 0819-2258714 • Dharwad [email protected] 0836- 2744207• Gulbarga [email protected] 0847-2310040 • Hassan [email protected] 08172 262065 • Hubli [email protected] 0836-2252444 • Mangalore [email protected] 0824-2496289 • Margoa [email protected] 0832-2731823 • Mysore [email protected] 0821-2438006 • Panjim [email protected] 0832-2426873 • Shimoga [email protected] 08182-228799 • Ahmedabad [email protected] 079-65445550 • Anand [email protected] 9662020623 • Ankleshwar [email protected] 02646 645326 • Baroda [email protected] 0265-6640870 • Bharuch [email protected] 02642-225022 • Bhavnagar [email protected] 278-3003149 • Gandhidham [email protected] 02836 651296 • Gandhinagar [email protected] 079-23244955 • Jamnagar [email protected] 0288-2558887 • Junagadh [email protected] 0285-2652220 • Mehsana [email protected] 02762-242950 • Nadiad [email protected] 0268-2563245 • Navsari [email protected] 02637-280367 • Rajkot [email protected] 2816545888 • Surat [email protected] 0261-3042170 • Valsad [email protected] 02632-258481 • Vapi [email protected] 9228012909 • Chennai [email protected] 044-42028512 • Alleppy [email protected] 0477 2263055 • Calicut [email protected] 0495-4022480 • Cochin [email protected] 0484 3000232 • Kannur [email protected] 0497-2764190 • Kollam [email protected] 0474-2747055 • Kottayam [email protected] 0481-2300868 • Malappuram [email protected] 0483-2731480 • Palghat [email protected] 491 6061110 • Thodupuzha [email protected] 0486-2211209 • Tiruvalla [email protected] 0469-3205676 • Trichur [email protected] 0487-3246231 • Trivandrum [email protected] 0471-2725728 • Coimbatore [email protected] 0422 - 4388011 • Dindigul [email protected] 0451- 6451043 • Erode [email protected] 0424-4021212 • Karaikudi [email protected] 04565-237192 • Karur [email protected] 04324-241755 • Madurai [email protected] 0452-2605856 • Nagerkoil [email protected] 04652 - 233552 • Namakkal [email protected] 04286- 23480 • Pollachi [email protected] 04259- 235111 • Pondicherry [email protected] 0413 2220640 • Pudukottai [email protected] 04322 - 220050 • Rajapalayam [email protected] 04563 - 232952 • Salem [email protected] 0427-4020300 • Sivakasi [email protected] 04562 228816 • Thanjavur [email protected] 04362-275415 • Tirunelveli [email protected] 0462 2335137 • Tirupur [email protected] 0421-2214221 • Trichy [email protected] 0431-4020227 • Tuticorin [email protected] 0461-2334603 • Vellore [email protected] 0416 2215007 • Agartala [email protected] 0381-2317519 • Guwahati [email protected] 8811036746 • Shillong [email protected] 0364 2506106 • Silchar [email protected] 03842 261714 • Ananthapur [email protected] 08554-244449 • Eluru [email protected] 08812-227851 • Guntur [email protected] 0863-2339094 •Hyderabad [email protected] 040-44677075/ 44677076/44677077/44677348 • Karimnagar [email protected] 0878-2261779 • Kurnool [email protected] 08158-228550 • Nanded [email protected] 02462-237885 • Nellore [email protected] 0861-2349940 • Nizamabad [email protected] 08462-224366 • Proddatur [email protected] 08564 - 242898 • Rajahmundry [email protected] 0883-2434468 • Solapur [email protected] 0217-2300021 • Srikakulam [email protected] 08942-225384 • Tirupathi [email protected] 0877-6544567 • Vijayanagaram [email protected] 08922-236962 • Vijayawada [email protected] 0866-2475126 • Visakhapatnam [email protected] 0891-2714125 • Warangal [email protected] 0870-2501664 • Akola [email protected] 0724-2451874 • Amaravathi [email protected] 0721-3291081 • Aurangabad [email protected] 0240-2343414 • Betul [email protected] 07141 - 231301 • Bhopal [email protected] 0755-4092712 • Chandrapur [email protected] 07172-270262 • Dewas [email protected] 07272-426010 • Dhule [email protected] 02562-282823 • Indore [email protected] 0731-4266828 • Jabalpur [email protected] 0761-3204376 • Jalgaon [email protected] 0257-2226761 • Nagpur [email protected] 0712-2533040 • Nasik nasikmfs@karvy.

30th April, 2016


com 0253-6611395 • Ratlam [email protected] 07412-402007 • Sagar [email protected] 07582-402404 • Ujjain [email protected] 0734-4250007 • Asansol [email protected] 0341-3266507 • Balasore [email protected] 06782-260503 • Bankura [email protected] 03242-255964 • Barhampore (Wb) [email protected] 03482 274494 • Berhampur (Or) [email protected] 0680-2228106 • Bhilai [email protected] 0788-2295999 • Bhubaneswar [email protected] 0674-6534585 • Bilaspur [email protected] 07752-408436• Bokaro [email protected] 9204061959 • Burdwan [email protected] 0342-2665140 • Chinsura [email protected] 033-26810164 • Cuttack [email protected] 0-9238102118 • Dhanbad [email protected] 0326-6452027, 0326- 2301045 • Durgapur [email protected] 0343-6512111 • Gaya [email protected] 0631-2220065 • Jalpaiguri [email protected] 03561-222136 • Jamshedpur [email protected] 0657-6655000 • Kharagpur [email protected] 03222-253380 • Kolkata [email protected] ; [email protected] 033-40611135/ 36; 033-24659263/9267, 24635432, 24669450, 24196462 • Malda [email protected] 03512-223763 • Patna [email protected] 0612-6453098 • Raipur [email protected] 0771-4052620 • Ranchi [email protected] 0651-2331320 • Rourkela [email protected] 0661-2500005 • Sambalpur [email protected] 0663-2522105 • Siliguri [email protected] 0353-2526393, 0353-2522579 • Agra [email protected] 9369918603 • Aligarh [email protected] 9369918604 • Allahabad [email protected] 9369918605 • Ambala [email protected] 9315017301 • Azamgarh [email protected] 9307910001 • Bareilly [email protected] 9369918607 • Begusarai [email protected] 9308793949 • Bhagalpur [email protected] 9386256100 • Darbhanga [email protected] 06272-220145 • Dehradun [email protected] 9369918608 • Deoria [email protected] 7499496134 • Faridabad [email protected] 9310448851 • Ghaziabad [email protected] 9310448804 • Ghazipur [email protected] 7499496131 •Gonda [email protected] 7499496127 • Gorakhpur [email protected] 9369918610 • Gurgaon [email protected] 9310448806 • Gwalior [email protected] 9300004262 • Haldwani [email protected] 9369918611 • Haridwar [email protected] 9369918612 • Hissar [email protected] 9315017303 • Jaunpur [email protected] 9369918613 • Jhansi [email protected] 9369918614 • Kanpur [email protected] 9369918615/6 • Korba [email protected] 9300155683 • Lucknow [email protected] 9369918600 • Mandi [email protected] 9318873501• Mathura [email protected] 9369918618 • Meerut [email protected] 9369918619 •Mirzapur [email protected] 7499496133 • Moradabad [email protected] 9369918620 •Morena [email protected] 7489361265 • [email protected] 9386256101 •Noida [email protected] 9310448805 • Panipat [email protected] 9315017304 • Renukoot [email protected] 7499495854 • Rewa [email protected] 7489755878 • Rohtak [email protected] 9315017305 • Roorkee [email protected] 9369918621 • Saharanpur [email protected] 9369918622 • Satna [email protected] 9300004263 • Shaktinagar [email protected] 7499496129 • Shimla [email protected] 9318644501 • Shivpuri [email protected] 9303028921 • Sitapur [email protected] 9369918623 • Solan [email protected] 9318991871 • Sonepat [email protected] 9315457164 • Sultanpur [email protected] 9369918624 • Varanasi [email protected] 9369918626 • Yamuna Nagar [email protected] 9315017306 • Kolhapur [email protected] 0231 2653656 • Mumbai [email protected] 022-66235353 • Pune [email protected] 020-25533795 • Ajmer [email protected] 0145-5120725 • Alwar [email protected] 0144-3291200 • Amritsar [email protected] 0183-5053802 •Bhatinda [email protected] 0164-5006725 • Bhilwara [email protected] 01482-246362 •Bikaner [email protected] 0151-2200014 •Chandigarh [email protected] 0172-5101342 •Ferozpur [email protected] 01632-241814 •Hoshiarpur [email protected] 01882-500143 •Jaipur [email protected] 0141-4167714 • Jalandhar [email protected] 0181-5094410 • Jammu [email protected] 0191-2458820 • Jodhpur [email protected] 0291-6454590 • Karnal [email protected] 0184-2252524 •Kota [email protected] 0744-5100964 • Ludhiana [email protected] 0161-4648747 • Moga [email protected] 01636-230792 • New Delhi [email protected] 011-43681700 • Pathankot [email protected] 0186-5080188 • Patiala [email protected] 0175-5004349 • Sikar [email protected] 01572-250398 • Sri Ganganagar [email protected] 0154-2470177 • Udaipur [email protected] 0294-2429370 • Chembur 022-662215536 • Vashi 022-27802684 • Borivali 022- 28916319 • Thane 022 25428475

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30th April, 2016


Contact Points:Toll Free Number: 1-800-267 0189 | Email: [email protected] | Website:www.barodapioneer.inRegistered OfficeBaroda Pioneer Asset Management Company Ltd.CIN : U65991MH1992PLC069414501 Titanium, 5th Floor, Western Express Highway, Goregaon (E), Mumbai - 400063.Phone: +91 22 3074 1000 / 4219 7999. Fax: +91 22 3074 1001.Branch OfficeBaroda Pioneer Asset Management Company Ltd.Flat No. 103 & 104, First Floor,Prakash Deep Building, 7 Tolstoy Marg, New Delhi - 110001. Phone: 011-43514662Branch OfficeBaroda Pioneer Asset Management Company Ltd. HP Complex, Flat No.12, 3rd Floor, Door No. 124/1,2&3 New No. 14, G N Chetty Road,T.Nagar, Chennai - 600017 Phone: 044 - 2834 3530, Fax: 044 - 2834 3539Mutual fund investments are subject to market risks,read all scheme related documents carefully.

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