get your share taurus starshare · mutual fund investments are subject to market risks, read all...

TIMESM O N T H L Y R E P O R T • A P R I L 2 0 1 3

Mutual Fund investments are subject to market risks, read all scheme related documents carefully

Toll free 1800 108 1111SMS TSS to 72000 22222www.taurusmutualfund.com

TSSTSS

An open-end equity scheme witha focus on multi-cap stocks

Get your sharein a multi-cap fund

TAURUS STARSHARE

Why Taurus Starshare?

• Flexible investment strategy

• Demonstrated Industry leaders

• Multi-cap nature

• Well diversified

• Average AUM

Benchmark:

which aims to align with the market cycles

as a part of core portfolio

allows fund manager the flexibility to take calls on potential small and mid-caps which could help generate alpha

across sectors and market-caps

` 153.03 crs. for April, 2013

S&P BSE 200

HOUSE OF TAURUS

INDEX Page No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

TAURUS STARSHARE

AN OPEN-END EQUITY SCHEME WITH A FOCUS ON MULTI CAP STOCKS

TAURUS INFRASTRUCTURE FUND .................................................................................................................................................................................4

AN OPEN-END EQUITY THEMATIC SCHEME

TAURUS ETHICAL FUND .......................................................................................................................................................................................................5

AN OPEN-END EQUITY ORIENTED SCHEME

TAURUS TAX SHIELD ................................................................................................................................................................................................................6

AN OPEN-END EQUITY LINKED SAVING SCHEME (ELSS)

TAURUS NIFTY INDEX FUND ............................................................................................................................................................................................ 7

AN OPEN-ENDED INDEX LINKED EQUITY SCHEME

TAURUS BONANZA FUND ...................................................................................................................................................................................................8

AN OPEN-END EQUITY SCHEME WITH A LARGE CAP FOCUS

TAURUS DISCOVERY FUND ..............................................................................................................................................................................................9

AN OPEN-END EQUITY FUND WITH MID CAP AND SMALL CAP FOCUS

TAURUS BANKING & FINANCIAL SERVICES FUND...........................................................................................................................................10

AN OPEN-ENDED SECTORAL EQUITY SCHEME

TAURUS ULTRA SHORT TERM BOND FUND ..........................................................................................................................................................11

AN OPEN-END DEBT SCHEME

TAURUS LIQUID FUND .........................................................................................................................................................................................................12

AN OPEN-END LIQUID SCHEME

TAURUS SHORT TERM INCOME FUND......................................................................................................................................................................13

AN OPEN-END BOND SCHEME

*TAURUS MIP ADVANTAGE ...................................................................................................................................................................................................14

AN OPEN - ENDED INCOME SCHEME

TAURUS DYNAMIC INCOME FUND..............................................................................................................................................................................15

AN OPEN ENDED INCOME SCHEME

TAURUS GILT FUND ................................................................................................................................................................................................................16

AN OPEN-END GILT SCHEME

..................................................................................................................................................................................................................3

3

TAURUS STARSHARE - AN OPEN-END EQUITY SCHEME WITH A FOCUS ON MULTI CAP STOCKS

Date of Allotment: Jan 29, 1994.Dividend Option introduced on Jan 1, 2009.

Net Asset Value (NAV) Regular Plan: `41.98 (D), 59.64 (G) per unit. Direct Plan: `41.99(D), 59.66 (G) per unit.

AAUM: `153.03 Face Value ̀ 10/-Minimum Application Amount: ` 5000/- & multiples of ̀ 1/- thereafter.Sharpe Ratio: 0.11 Standard Deviation:15.94 Alpha: 0.16 Beta: 1.09(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013)NAV Calculation: All business days.Fund Manager: Mr. Sadanand ShettyRegistrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.

FUND DATA As on 30th April 2013

Cr. Benchmark : S&P BSE 200

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Investment Objective

The basic objective of the Scheme is to provide long-term capital appreciation. Emphasis will be on sharing growth through appreciation as well as on distribution of income by way of dividend.

Sale & repurchase on all business days.

` 5 per unit dividend in July 2009` 3 per unit dividend in November 2009` 5 per unit dividend in March 2010Past performance may or may not be sustained in the future

All dividends are on face value of ̀ 10 per unit. After payment of the dividend, the per unit NAV falls to the extent of the payout and statutory levy, if anyfor complete details of the dividend declared please log on to www.taurusmutualfund.com

SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

Entry Load - NILExit Load - Up to any amount (Including SIP application):

1% if exited before 180 days Nil if exited after 180 days

Switch: Equity to Equity-Exit Load Nil, Equity to ELSS exit load applicable as mentioned above, Equity to Debt exit load applicable as mentioned above.

LOAD STRUCTURE

••

Fund Manager's Comment: The results season has been divided into extremes of outperformers and underperformers and has lent credibility to our penchant for picking up absolute opportunities ahead of the curve in terms of growth and available alpha. We have a higher than benchmark weight in media, construction and financials. We have observed limited opportunities of outperformance in FMCG, pharmaceuticals and auto (with slowing and at times, negative growth) and have a negative bias on these sectors.

PORTFOLIO As on 30th April 2013

EQUITY SECTOR ALLOCATION

Name of the scrip % to Net Assets

Top 10 Holdings

Larsen & Toubro Ltd 5.18

ICICI Bank Ltd 5.02

Reliance Industries Ltd 4.75

Aditya Birla Nuvo Ltd 4.72

Oil India Ltd 4.41

Tata Motors Ltd 3.37

State Bank Of India 3.27

Hdfc Bank Ltd 3.16

ITC Ltd 3.04

Wipro Ltd 2.83

Total Top 10 Holdings 39.74

CBLO

Clearing Corporation Of India Ltd 0.74

Total - CBLO

Cash & Cash Receivables 1.86

Total - Equity 97.40

Total 100.00

NAV Per Unit (`) as at March 28, 2013: ̀ 57.07

* NAV at the beginning of the period ̂ Past performance may or may not be sustained in the future. Returns are of growth option.Returns are calculated on compounded annualised basis for a period of more than one year.

Period NAV Per Scheme Benchmark AdditionalUnit (`)* Returns (%)^ Index Benchmark Index

(Returns)(%) (Returns)(%) Scheme Benchmark AdditionalS&P BSE 200 CNX Nifty (`) (`) Benchmark (`)

S&P BSE 200 CNX NiftySince inception till March 28, 2013 10.00 9.51 8.26 8.12 57,070 45,767 44,696March 30, 2012 to March 28, 2013 53.20 7.27 6.03 7.31March 31, 2011 to March 30, 2012 57.03 -6.72 -9.28 -9.23 Not applicableMarch 31, 2010 to March 31, 2011 49.55 15.10 8.15 11.14

Current Value of Standard Investment of ` 10000 in the

0.00

0.63

0.83

1.00

1.01

1.07

1.89

3.32

3.98

4.59

4.72

5.43

5.68

6.11

7.33

9.10

9.88

11.43

19.39

0.00 5.00 10.00 15.00 20.00 25.00

Industrial Capital Goods

Pesticides

Trading

Fertilisers

Healthcare Services

Ferrous Metals

Pharmaceuticals

Construction

Auto

Power

Services

Oil

Media & Entertainment

Construction Project

Petroleum Products

Consumer Non Durables

Finance

Software

Banks

4


TAURUS INFRASTRUCTURE FUND - AN OPEN-END EQUITY THEMATIC SCHEME


To provide capital appreciation and income distribution to unitholders by investing pre-dominantly in equity and equity related securities of the companies belonging to infrastructure sector, it's related industries inclusive of suppliers of capital goods, raw materials and other supportive services to infrastructure companies and balance in debt and money market instruments.

Sale and repurchase on all business days.

SCHEME FEATURES

Liquidity


Date of Allotment: Mar 5, 2007.Net Asset Value (NAV) Regular Plan: `10.68 (D), 11.35 (G) per unit.

Direct Plan: `10.69 (D), 11.35 (G) per unit.AAUM: ̀ 9.63 Cr.Face Value ̀ 10/-Minimum Application Amount: ̀Sharpe Ratio: -0.58 Standard Deviation: 18.10 Alpha: -12.11 Beta:1.16(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013.)

NAV Calculation: All business days.Fund Manager: Mr. Sadanand ShettyRegistrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.

Benchmark : S&P BSE 200

5000/- & multiples of ̀ 1/- thereafter.

Entry Load -NILExit Load -Up to any amount (Including SIP application):



LOAD STRUCTURE

• •

Fund Manager's Comment: Lowest GDP growth in a long time with impending elections has forced the Government to take corrective action in the last few months. As the rate cut cycle continues, albeit at a slower pace, there is increased activity in terms of project clearances and deal initiations. As the cycle chugs on, we believe that the operators (capital goods, utilities, construction and engineering) will gain from a position of reduced expectations and improved action on the street while banks and financial services will take their part to fuel this growth.

` 1 per unit dividend in Aug. 2010.

Past performance may or may not be sustained in the futureAll dividends are on face value of ̀ 10 per unit. After payment of the dividend, the per unit NAV falls to the extent of the payout and statutory levy, if anyfor complete details of the dividend declared please log on to www.taurusmutualfund.com

DIVIDEND HISTORY







S&P BSE 200 CNX NiftySince inception till March 28, 2013 10.00 1.46 7.54 7.92 10,920 15,547 15,889March 30, 2012 to March 28, 2013 11.54 -5.37 6.03 7.31March 31, 2011 to March 30, 2012 13.25 -12.91 -9.28 -9.23 Not applicableMarch 31, 2010 to March 31, 2011 13.83 -4.19 8.15 11.14



Top 10 Holdings

ICICI Bank Ltd 5.08

Va Tech Wabag Ltd 4.96Larsen & Toubro Ltd 4.96


Oil & Natural Gas Corporation Ltd 4.89State Bank Of India 4.66

DLF Ltd 4.18Power Finance Corporation Ltd 3.98

Tata Power Company Ltd 3.95PTC India Ltd 3.64


CBLO


Total - CBLO



Total 100.00

0.51

0.70

0.99

1.06

1.51

1.55

1.65

3.06

3.14

4.51

4.96

6.45

7.80

8.41

9.84

11.26

12.26

15.74

0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00

Gas

Telecom - Services

Cement

Auto Ancillaries

Auto

Ferrous Metals

Industrial Products


Non - Ferrous Metals

Transportation

Engineering Services

Oil

Finance


Petroleum Products

Construction

Power

Banks

5


Date of Allotment: April 6, 2009Net Asset Value (NAV) Regular Plan: ̀ 15.22(D), 22.54 (G), 22.54 (B) per unit.

Direct Plan: `15.25(D), 22.58 (G) per unit.

AAUM: ` 21.34 Cr.Face Value ̀ 10/-Minimum Application Amount: ` 5000/- & multiples of .

Sharpe Ratio: -0.56 Standard Deviation: 11.83 Alpha: -7.74 Beta: 0.76(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30 April, 2013.)

NAV Calculation: All business days.Fund Manager: Mr. Abhinav SharmaRegistrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.


Benchmark : CNX 500 Index Shariah

` 1/- thereafter


To provide capital appreciation and income distribution to unitholders through investment in a diversified portfolio of equities, which are based on the principles of Shariah.


` 1.80 per unit dividend in Dec. 2010, ̀ 2 per unit dividend in Feb. 2010, ̀ 1 per unit dividend in September 2009, ̀ 1.5 per unit dividend in July 2009.


SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

Entry Load- NILExit Load -Up to any amount (Including SIP application):



LOAD STRUCTURE

••

TAURUS ETHICAL FUND - AN OPEN-END EQUITY ORIENTED SCHEME

Fund Manager's Comment: We have managed to create a concentrated portfolio over time with large investments in oil & gas, pharmaceuticals and technology. We have over time reduced the weight of FMCG where we see issues in the medium term on growth and margins. We have maintained an overweight position on energy and oil & gas where there are positive tailwinds on pricing and better visibility of growth.




Top 10 Holdings


Infosys Ltd 6.52Oil & Natural Gas Corporation Ltd 6.03

Cairn India Ltd 5.40Dr. Reddy's Laboratories Ltd 5.21

Maruti Suzuki India Ltd 4.65Cadila Healthcare Ltd 3.57Gail (India) Ltd 3.56

Ambuja Cements Ltd 3.37Hindustan Unilever Ltd 3.16


Cash & Cash Receivables 3.47Total - Equity 96.53

Total 100.00




(Returns)(%) S&P (Returns)(%) Scheme Benchmark AdditionalCNX NIFTY CNX Nifty (`) (`) S&P CNX Benchmark (`)Shariah 500 Shariah 500 Returns (%)

Since inception till March 28, 2013 10.00 21.48 15.55 15.01 21,700 17,779 17,449March 30, 2012 to March 28, 2013 21.87 -0.78 5.60 7.31March 31, 2011 to March 30, 2012 23.16 -5.57 -6.52 -9.23 Not applicableMarch 31, 2010 to March 31, 2011 21.16 9.45 5.12 11.14


0.91

1.15

1.30

2.02

2.26

2.33

2.59

3.88

4.33

5.03

6.99

7.41

8.65

8.79

11.43

13.09

14.37

0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00

Pesticides

Industrial Products

Transportation

Ferrous Metals

Healthcare Services



Cement

Minerals/mining

Gas


Auto

Petroleum Products


Oil

Software

Pharmaceuticals

TAURUS TAX SHIELD - AN OPEN-END EQUITY LINKED SAVING SCHEME (ELSS)

6



To provide long term capital appreciation over the life of the scheme through investment pre-dominantly in equity shares, besides tax benefits.

Sale on all business days. As per Income Tax Laws, the redemption facility is available after a lock-in period of 3 years from the date of investment.

Growth plan: ̀ unit in Sept. 2003, Dividend plan: ̀ 1.25 per unit in Mar. 2011, ̀ 1.25 per unit in Feb. 2011, ̀ 2 per unit in Dec. 2010, ̀ 2.25 per unit in Mar. 2010, ̀ 2 per unit in Feb. 2010, ̀ 1.5 per unit in Jan. 2010, ̀ 1 per unit in Nov. 2009, ̀ 1 per unit in Mar. 2009, ̀ 1 per unit in Jan. 2009, ̀ 1 per unit in Dec. 2008.


SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

3.5 per unit in Dec. 2005, ̀ 1.6 per unit in Feb. 2004, ̀ 1.1 per

Dividend Option introduced on July 6, 2008.

Net Asset Value (NAV) Regular Plan: `17.08 (D), 36.47 (G) per unit. Direct Plan: `17.12 (D), 36.47(G) per unit.

AAUM: ̀ Cr.Face Value ̀ 10/-Minimum Application Amount: ̀ 500/- & multiples of ̀ 500/ thereafter

Sharpe Ratio: 0.08 Standard Deviation: 13.76 Alpha: -0.24Beta: 0.95(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013.)



Date of Allotment: Mar 31, 1996.

.

91.46 Benchmark : S&P BSE 200

Entry Load - NilExit Load - Up to any amount (Including SIP application):

NA (lock - in period of 3 years)Switch to any other schemes (Debt/Equity) after 3 years exit load Nil.

LOAD STRUCTURE

Fund Manager's Comment: We have a positive bias in the medium term and we have retained a combination portfolio that should participate in the upside but will have protection on the downside. We currently have an overweight position in media, engineering and construction, where the stocks present substantial alpha opportunities. On the other hand, we remain negative on FMCG and metals, where there is limited visibility of sustained earnings growth.



Top 10 Holdings

ICICI Bank Ltd 5.09Larsen & Toubro Ltd 4.79


Maruti Suzuki India Ltd 4.51Oil & Natural Gas Corporation Ltd 4.08

Housing Development Finance Corporation Ltd 3.82Tata Motors Ltd 3.74

HCL Technologies Ltd 3.48Infosys Ltd 3.32Bharat Petroleum Corporation Ltd 3.28


CBLO


Total - CBLO



Total 100.00




(Returns)(%) (Returns)(%) Scheme Benchmark AdditionalS&P BSE 200 CNX Nifty (`) (`) S&P Benchmark (`)

BSE 200 CNX NiftySince inception till March 28, 2013 10.00 10.32 11.76 10.85 53,121 66,241 57,673March 30, 2012 to March 28, 2013 32.70 6.97 6.03 7.31March 31, 2011 to March 30, 2012 35.70 -8.40 -9.28 -9.23 Not applicableMarch 31, 2010 to March 31, 2011 31.64 12.83 8.15 11.14


0.73

1.01

1.68

2.24

3.78

4.08

4.22

4.45

5.73

6.33

7.61

8.07

8.25

11.54

11.76

16.56

0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00

Ferrous Metals

Telecom - Services

Transportation


Power

Oil

Construction

Pharmaceuticals




Petroleum Products

Auto

Finance

Software

Banks

7


Date of Allotment: June 19, 2010Net Asset Value (NAV) Regular Plan: ` (D), 11.0517 (G) per unit.

Direct Plan: `11.0731 (D), 11.0731 (G) per unit.AAUM: ` Cr.Face Value ̀ 10/-Minimum Application Amount: ` 5000/- & in multiples of thereafter.Sharpe Ratio: 0.12 Standard Deviation: 13.66 Alpha: 0.25Beta: 0.99(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013)NAV Calculation: All business days.Fund Manager: Mr. Sadanand ShettyRegistrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.


11.0517

0.81 Benchmark : CNX Nifty Index

` 1/-

Entry Load - Up to any amount including SIP - NilExit Load - Up to any amount (Including SIP application)

0.5% if exited before 30 days.Nil if exited after 30 days

Switch: Existing Equity schemes to Taurus Nifty Index Fund - Relevant exit load applicable.

LOAD STRUCTURE


The investment objective of the scheme is to replicate the S&P CNX Nifty Index by investing in securities of the CNX Nifty Index in the same proportion/ weightage.


SCHEME FEATURES

Liquidity

TAURUS NIFTY INDEX FUND - AN OPEN-ENDED INDEX LINKED EQUITY SCHEME

Fund Manager's Comment: The index fund continues to track the performance of its benchmark indices Nifty. The fund portfolio consists of the stocks in the same weight as they are in the Nifty Index. The strategy of the investment is to mirror the index return by minimizing the tracking error with its benchmark.



Top 10 Holdings

ITC Ltd 9.33ICICI Bank Ltd 6.95

Housing Development Finance Corporation Ltd 6.79Reliance Industries Ltd 6.70

Hdfc Bank Ltd 6.48

Infosys Ltd 5.57Larsen & Toubro Ltd 4.23

Tata Consultancy Services Ltd 3.65Hindustan Unilever Ltd 3.11

State Bank Of India 3.03


Cash & Cash Receivables 1.57Total - Equity 98.43

Total 100.00



Period NAV Per Scheme Benchmark Index Additional Benchmark Unit (`)* Returns (%)^ (Returns)(%) (Returns)(%)

S&P CNX NIFTY S&P CNX Nifty

Since inception till March 28, 2013 10.0000 2.19 2.80 2.80

March 30, 2012 to March 28, 2013 9.8709 7.58 7.31 7.31

March 31, 2011 to March 30, 2012 11.0851 -10.95 -9.23 -9.23

March 31, 2010 to March 31, 2011 NA NA NA NA


0.45

0.65

0.79

0.82

1.65

1.88

1.98

3.55

3.75

3.95

4.23

5.44

7.25

7.77

8.19

10.20

13.47

22.41

0.00 5.00 10.00 15.00 20.00 25.00

Construction

Non - Ferrous Metals


Gas

Ferrous Metals

Minerals/mining

Telecom - Services

Power

Cement

Oil


Pharmaceuticals

Petroleum Products

Finance

Auto

Software


Banks

8



Taurus Bonanza Fund is an open-end growth scheme. The investment objective is to provide investors long-term capital appreciation. Investments shall be primarily in Equity and Equity related instruments that offer scope for long-term capital appreciation. The Fund will also be invested in debt and money market instruments.


SCHEME FEATURES

Liquidity


Date of Allotment: Feb 28, 1995.Dividend Option introduced on July 6, 2008.

Net Asset Value (NAV) Regular Plan: `41.58 (D), 41.58 (G) per unit.Direct Plan: `41.6 (D), 41.59 (G) per unit.

AAUM: ̀ Cr. Face Value ̀ 10/-Minimum Application Amount: ̀Sharpe Ratio: -0.13 Standard Deviation: 15.67 Alpha: -3.54Beta: 1.08(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013)

NAV Calculation: All business days.Fund Manager: Mr. Abhinav SharmaRegistrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.

29.23 Benchmark : S&P BSE 100


TAURUS BONANZA FUND - AN OPEN-END EQUITY SCHEME WITH A LARGE CAP FOCUS

Entry Load -NILExit Load - Up to any amount (Including SIP application):



LOAD STRUCTURE

••

Fund Manager's Comment: In the midst of a very volatile stock-specific environment, we remain positive on the market in the medium term. We have positive positions in capital goods (with a better investment climate or heightened expectations of the same), telecom (improving tariffs) and cement (coming out from a very negative couple of quarters with reduced expectations). We maintain a negative stance in FMCG where valuations have run ahead of fundamental factors.







BSE 100 CNX NiftySince inception till March 28, 2013 10.00 10.20 10.31 9.99 57,937 59,017 56,001March 30, 2012 to March 28, 2013 38.65 3.42 6.84 7.31March 31, 2011 to March 30, 2012 43.19 -10.51 -9.23 -9.23 Not applicableMarch 31, 2010 to March 31, 2011 38.99 10.77 8.55 11.14



Top 10 Holdings


Bharti Airtel Ltd 6.93Infosys Ltd 6.70Larsen & Toubro Ltd 6.06

ICICI Bank Ltd 4.92State Bank Of India 4.09

NTPC Ltd 3.51Tata Motors Ltd 3.45

Housing Development Finance Corporation Ltd 3.26

Wipro Ltd 3.19


CBLO


Total - CBLO



Total 100.00

1.15

1.23

1.38

1.47

1.53

1.62

2.14

2.95

3.04

4.33

5.37

5.57

5.88

6.93

7.54

7.89

7.94

11.81

18.29

0.00 5.00 10.00 15.00 20.00

Industrial Products


Gas

Minerals/mining

Services

Auto Ancillaries

Ferrous Metals

Oil


Power

Auto

Pharmaceuticals

Cement

Telecom - Services

Petroleum Products


Finance

Software

Banks

9


TAURUS DISCOVERY FUND - AN OPEN-END EQUITY FUND WITH MID CAP AND SMALL CAP FOCUS

Date of Allotment: Sep 5, 1994.Net Asset Value (NAV) Regular Plan: `16.15 (D), 16.15 (G) per unit.

Direct Plan: `16.17 (D), 16.16 (G) per unit.AAUM: ` 23.26 Cr.Face Value ̀ 10/-Minimum Application Amount: ̀Sharpe Ratio: 0.69 Standard Deviation: 16.02 Alpha: 9.78Beta: 0.96(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013.)



Benchmark : CNX Midcap Index



The primary objective of the Scheme is to identify and select low priced stocks through price discovery mechanism, which would broadly include: • To capitalise on available opportunity on growth potential offered by undervalued penny stocks. • Such stocks being low priced and if dividend paying, decent dividend yield will give desired cushion in the volatile capital market. • Lower side risk is minimum in such investments. • Many of such cases where investment will be made, may be turnaround cases, therefore, greater potential for improvement in NAV.


SCHEME FEATURES

Liquidity

Entry Load - NILExit Load -Up to any amount (Including SIP application):


Switch: Equity to Equity- Exit Load Nil, Equity to ELSS exit load applicable as mentioned above, Equity to Debt exit load applicable as mentioned above.

LOAD STRUCTURE

••

Fund Manager's Comment: In a less volatile month for the market, the mid cap segment outperformed the broader market and has recovered from the abysmally low levels of last month. We took advantage of the fall to build absolute alpha opportunities in the portfolio. We have created sizeable positions in financials, technology and media. We have lower weights in pharmaceuticals and FMCG, where the larger players hold too much of an advantage over smaller players in terms of pricing, volume and reach.




Top 10 Holdings

Aditya Birla Nuvo Ltd 5.18The Jammu & Kashmir Bank Ltd 4.45

Max India Ltd 4.20Oil India Ltd 4.02

Tech Mahindra Ltd 3.97Entertainment Network (india) Ltd 3.94

Dish TV India Ltd 3.72

Jyothy Laboratories Ltd 3.66Power Finance Corporation Ltd 3.48

HCL Technologies Ltd 3.40

Total Top 10 Holdigns 40.01

CBLO


Total - CBLO



Total 100.00

NAV Per Unit (`) as at March28, 2013: ̀ 15.71

* NAV at the beginning of the period ̂ Past performance may or may not be sustained in the future. Returns are of growth optionReturns are calculated on compounded annualised basis for a period of more than one year.


Period NAV Per Scheme Benchmark AdditionalUnit (`)* Returns Index Benchmark Index

(%)^ (Returns)(%) (Returns)(%) Scheme Benchmark (`) AdditionalCNX MIDCAP CNX Nifty (`) CNX MIDCAP Benchmark (`)

Index Index CNX Nifty

Since inception till March 28, 2013 10.00 2.46 6.74 8.03 15,710 33,574 41,983March 30, 2012 to March 28, 2013 13.33 17.85 -4.02 7.31March 31, 2011 to March 30, 2012 14.03 -4.99 -4.09 -9.23 Not applicableMarch 31, 2010 to March 31, 2011 14.68 -4.43 4.35 11.14

0.39

0.52

0.66

0.78

1.00

2.52

2.76

4.02

4.12

4.14

4.24

4.84

5.18

6.05

11.33

11.80

15.42

16.17

0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00

Gas

Auto Ancillaries

Fertilisers

Trading

Pharmaceuticals


Transportation

Oil


Petroleum Products

Construction


Services

Power

Software

Banks

Finance



10

Date of Allotment: July 22, 2012

Direct Plan: `12.88 (D), 12.86 (G) per unit.

AAUM: ` 12.26 Cr.

Face Value ̀ 10/-

Minimum Investment Amount: ` 5000/- & multiples of ̀ 1/- thereafter

NAV Calculation: All business days.

Fund Manager: Mr. Sadanand Shetty

Registrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.


Net Asset Value (NAV) Regular Plan: `11.51 (D), 12.85 (G) per unit.

Benchmark : S&P BSE Bankex

Fund Manager's Comment: The composition of this fund reflects investment themes built around economic and investment climate revival and beneficiary impact of reforms on specific sectors. The portfolio has exposure to a number of leading NBFCs which offer attractive valuation. Recently it has cautiously added some high beta stocks to take advantage of market recovery and valuation.

TAURUS BANKING & FINANCIAL SERVICES FUND - AN OPEN-ENDED SECTORAL EQUITY SCHEME




The primary objective of the Scheme is to generate capital appreciation through a portfolio that invests predominantly in equity and equity related instruments of Banking, Financial and Non Banking Financial Companies that form a part of the BFSI Sector. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns.

SCHEME FEATURES

Liquidity



Top 10 Holdings

ICICI Bank Ltd 24.16

State Bank Of India 18.71Housing Development Finance Corporation Ltd 6.14

Kotak Mahindra Bank Ltd 5.20Hdfc Bank Ltd 4.74

Max India Ltd 3.84Shriram Transport Finance Company Ltd 3.20The Jammu & Kashmir Bank Ltd 3.18

The Federal Bank Ltd 3.04Mahindra & Mahindra Financial Services Ltd 2.96

Total Top 10 Holdings

CBLO


Total - CBLO



Total 100.00

Load Structure:

Investment Value:

Entry Load :

Exit Load :

Upto any amount

NIL

Up to any amount (Including SIP application)• 1.00% if exited before180 days• Nil if exited after 180 days


DIVIDEND HISTORY

Regular Plan : ̀ 1.25 per unit dividend in March 2013


26.67

70.01

0.00 20.00 40.00 60.00 80.00

Finance

Banks

11



To generate returns with higher liquidity and low volatility from a portfolio of money market and debt instruments. However, there is no assurance that the investment objective of the scheme will be realised.


SCHEME FEATURES

Liquidity


Date of Allotment: December 1, 2008.Net Asset Value (NAV) Regular Plan:

Retail ` (D), 1380.3171 (G), 1002.7356 (W) per unit.Institutional ` 1001.8759 (D), 1398.8942 (G) per unit.Super Institutional ` 1001.8759 (D), 1407.272 (G), 1003.3516 (W) per unit.Direct Plan:

Super Institutional ` 1001.8759 (D), 1407.743 (G), 1003.3728 (W) per unit.Average Maturity Period: 0.22 years.AAUM: ` Cr.Benchmark : Crisil Liquid Fund IndexFace Value ̀ 1000/-Minimum Application Amount: ̀ 5000/- & multiples of ̀ 1/- thereafter.Retail: Sharpe Ratio: 15.23 Standard Deviation: 0.14 Alpha: 2.09 Beta: 0.04Institutional: Sharpe Ratio:21.05 Standard Deviation: 0.13 Alpha: 2.71 Beta: 0.04Super Institutional: Sharpe Ratio: 21.72 Standard Deviation: 0.13 Alpha: 2.81Beta: 0.04(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013.)Fund Manager: Mr. Kapil Punjabi Co-Fund Manager : Mr. Rahul Pal Registrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.

1001.9417

646.40

TAURUS ULTRA SHORT TERM BOND FUND - AN OPEN-END DEBT SCHEME

Switch to any other schemes (Debt/Equity) - Nil

LOAD STRUCTURE

Entry Load Exit LoadNIL NIL

Fund Manager's Comment: Liquidity shortfall eased in the month of April compared to the tight March situation and liquidity tracked by LAF recorded an average of negative INR 83086 crores. Easing liquidity and also increase in AUMs of mutual funds during the month led to an easing of money market rates by around 50-75 basis points for maturity up to 1 year. The AUM of the scheme increased significantly and incremental flows were invested in a mix of maturity buckets and also the average maturity of the scheme also declined. We intend to maintain a judicious balance between bank and non bank assets taking into account the risks embedded in the various asset classes. The fund continued to deliver consistent performance during the previous month and will strive to continually achieve the same.


Retail & Institutional Plans discontinued for fresh subscription /additional purchase /switch-in w.e.f. 01.10.2012


Current Value of Standard Investment of `10000 in the

PE

RF

OR

MA

NC

E


Period NAV Per Scheme Benchmark AdditionalUnit (`)* Returns (Returns)(%) Benchmark (%)

(%)^ CRISIL Liquid (Returns) (%) Scheme Benchmark (`) AdditionalFund Index CRISIL 1 year (`) CRISIL Liquid Benchmark (`)

T-bill Index Fund Index CRISIL 1 year ##Returns (%) T-bill Index

Since inception till March 28, 2013 1000.0000 7.52 6.80 5.70 13,682 13,293 12,709March 30, 2012 to March 28, 2013 1253.8157 9.12 8.17 8.33March 31, 2011 to March 30, 2012 1145.7300 9.43 8.44 6.59 Not applicableMarch 31, 2010 to March 31, 2011 1072.7322 6.80 6.21 3.86

Name of the scrip Industry / Rating % to Net Assets

CP/CD

Indusind Bank Ltd CRISIL A1+ 14.70State Bank Of Hyderabad ICRA A1+ 7.01IDBI Bank Ltd CRISIL A1+ 6.98Yes Bank Ltd ICRA A1+ 5.82Axis Bank Ltd ICRA A1+ 3.56State Bank Of Mysore ICRA A1+ 3.53Uco Bank CRISIL A1+ 3.36Vijaya Bank CRISIL A1+ 3.35South Indian Bank Ltd CARE A1+ 1.54State Bank Of Bikaner And Jaipur CRISIL A1+ 1.43State Bank Of Patiala CRISIL A1+ 0.71Axis Bank Ltd CRISIL A1+ 0.40ICICI Bank Ltd ICRA A1+ 0.27Bhushan Steel Ltd CARE A1+ 7.18ICICI Home Finance Company Ltd ICRA A1+ 7.15ECL Finance Ltd CRISIL A1+ 7.14Fedbank Financial Services Ltd CRISIL A1+ 7.13HCL Infosystems Ltd ICRA A1 7.11Karvy Financial Services Ltd ICRA A1+ 3.57Religare Finvest Ltd ICRA A1+ 3.55SREI Equipment Finance Pvt Ltd ICRA A1+ 1.43Total CP/CD 96.93

CBLO

Clearing Corporation of India Ltd 3.48Total - CBLO 3.48

Corporate BondSundaram BNP Paribas Home Fina Ltd CARE AA+ 1.44Total - Corporate Bond 1.44

Treasury Bill

91 Days T-bill (MD 16/05/2013) SOV 0.11Total - Treasury Bill 0.11

Floating Rate NoteKotak Mahindra Bank Ltd ICRA AA+ 0.07Total - Floating Rate NoteCash & Cash Receivables -2.03Total 100.00

12



Date of Allotment:

Net Asset Value (NAV) Regular Plan:

Institutional ` 1000.0905 (D), 1298.3558 (G) per unit.Super Institutional ` 1000.0905 (D), 1275.035 (G) per unit.

Direct Plan:

Super Institutional ` 1000.0905 (D), 1275.2577 (G), 1001.2176 (W) per unit.

Average Maturity Period: 0.11 years.

AAUM: ̀ Cr.Benchmark : Crisil Liquid Fund IndexFace Value ̀ 1000/-Retail: Sharpe Ratio: 16.61 Standard Deviation: 0.10 Alpha: 1.60 Beta: 0.01Institutional: Sharpe Ratio: 25.95 Standard Deviation: 0.09Alpha: 2.33 Beta: 0.00

Super Institutional: Sharpe Ratio: 27.32 Standard Deviation: 0.09Alpha: 2.42 Beta: 0.00

(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013)


Fund Manager: Mr. Kapil Punjabi Co-Fund Manager : Mr. Rahul Pal


Institutional and Super Institutional plan introduced w.e.f. 26th Sep, 2008

Aug 31, 2006.` 1001.2175 (D), 1537.1956 (G) per unit.

2520.03


To generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of money market securities and high quality debt.


SCHEME FEATURES

Liquidity

TAURUS LIQUID FUND - AN OPEN-END LIQUID SCHEME

Face Value changed from ̀ 10 to ̀ 1000 w.e.f. 20th Feb., 2010. Historical NAV adjusted as per new Face value of ̀ 1000

Fund Manager's Comment: Liquidity shortfall eased in the month of April compared to the tight March situation and liquidity tracked by LAF recorded an average of negative INR 83086 crores. Easing liquidity and also increase in AUMs of mutual funds during the month led to an easing of money market rates by around 50-75 basis points for maturity up to 1 year bucket. The AUM of the scheme increased significantly and incremental flows were invested in the extreme shorter end instrument resulting in a decline of the portfolio accruals. We intend to maintain a judicious balance between bank and non bank assets taking into account the risks embedded in the various asset classes. We continued to deliver consistent performance during the previous month.

Switch to any other schemes (Debt/Equity) - Nil

LOAD STRUCTURE

Entry Load Exit LoadNIL NIL


Retail & Institutional Plans discontinued for fresh subscription /additional purchase /switch-in w.e.f. 01.10.2012



PE

RF

OR

MA

NC

E

* NAV at the beginning of the period ̂ Past performance may or may not be sustained in the future. Returns are of growth option.Returns are calculated on compounded annualised basis for a period of more than one year. Returns are shown as simple annualisation for 7 days, 15 days & 30 days period

Period NAV Per Scheme Benchmark AdditionalUnit (`)* Returns (Returns)(%) Benchmark (%)

(%)^ CRISIL Liquid (Returns) (%) Scheme Benchmark (`) AdditionalFund Index CRISIL 1 year (`) CRISIL Liquid Benchmark (`)

T-bill Index Fund Index CRISIL 1 year ##Returns (%) T-bill Index

Since inception till March 28, 2013 1000.0000 6.63 7.07 5.77 15,258 15,677 14,468March 21, 2013 to March 28, 2013 1523.3499 8.25 7.87 10.54March 13, 2013 to March 28, 2013 1520.7074 8.08 8.10 11.55February 28, 2013 to March 28, 2013 1516.5754 7.89 8.25 9.78 Not applicableMarch 30, 2012 to March 28, 2013 1406.1763 8.50 8.17 8.33March 31, 2011 to March 30, 2012 1288.3705 9.14 8.44 6.59March 31, 2010 to March 31, 2011 1208.5149 6.61 6.21 3.86

Name of the scrip Rating % to Net AssetsCP/CDSrei Equipment Finance Pvt Ltd ICRA A1+ 6.84India Infoline Finance Ltd CRISIL A1+ 4.49Tata Teleservices Ltd CARE A1+ 3.62IFCI Factors Ltd CARE A1+ 3.61Religare Finvest Ltd ICRA A1+ 3.61Dewan Housing Finance Corporation Ltd CARE A1+ 3.60Century Textiles & Industries Ltd CARE A1+ 3.60Jindal Steel & Power Ltd ICRA A1+ 3.59Essel Mining And Industries Ltd ICRA A1+ 3.59Indiabulls Housing Finance Ltd CRISIL A1+ 3.10Religare Securities Ltd CRISIL A1+ 2.69RHC Holding Pvt Ltd ICRA A1+ 1.81Ballarpur Industries Ltd FITCH A1+ 1.81Dabur India Ltd CRISIL A1+ 1.80Ericsson India Pvt Ltd ICRA A1+ 1.80Capital First Limited CARE A1+ 1.80Reliance Capital Ltd CARE A1+ 1.79Indian Oil Corporation Ltd CRISIL A1+ 1.79Tata Motors Ltd ICRA A1+ 1.79Tata Housing Development Co Ltd CARE A1+ 0.90Gruh Finance Ltd ICRA A1+ 0.90Canara Bank CRISIL A1+ 5.37State Bank Of Travancore CRISIL A1+ 3.60Punjab National Bank CARE A1+ 3.60Axis Bank Ltd ICRA A1+ 3.59IDBI Bank Ltd CRISIL A1+ 3.59Axis Bank Ltd CRISIL A1+ 3.59State Bank Of Bikaner And Jaipur CRISIL A1+ 2.34Yes Bank Ltd ICRA A1+ 2.16Indusind Bank Ltd CRISIL A1+ 1.87Ing Vysya Bank Ltd CRISIL A1+ 1.81State Bank Of Patiala CARE A1+ 1.80Hdfc Bank Ltd FITCH A1+ 1.80State Bank Of Hyderabad CRISIL A1+ 1.80Syndicate Bank CARE A1+ 1.80State Bank Of Patiala ICRA A1+ 0.90Oriental Bank Of Commerce CRISIL A1+ 0.90Allahabad Bank ICRA A1+ 0.36The Jammu & Kashmir Bank Ltd CRISIL A1+ 0.18Hdfc Bank Ltd CRISIL A1+ 0.18Total CP/CD 99.80Treasury Bill91 Days T-bill (MD 16/05/2013) SOV 0.13Total - Treasury Bill 0.13CBLOClearing Corporation Of India Ltd 0.11Total - CBLO 0.11Cash & Cash Receivables -0.04Total 100.00

13


To generate income and capital appreciation with low volatility by investing in a diversified portfolio of short term debt and money market instruments.


Direct Plan : ̀ per unit dividend of March 2013 ̀ per unit dividend of February 2013 ̀ per unit dividend of January 2013

Regular Plan: `16.2671 per unit dividend of April 2013 ̀ 10.7375 per unit dividend of March 2013 ̀ per unit dividend of February 2013 ̀ 11.1504 per unit dividend of January 2013

Total ̀ per unit gross dividend for the period of January 2012-December 2012Total ̀ 140.5050 per unit gross dividend for the period of January 2011- December 2011Total ̀ 55.6602 per unit gross dividend for the period of July 2010-December 2010` 0.30 per unit dividend in February 2002.Past performance may or may not be sustained in the futureAll dividends are on face value of ̀ 10 per unit. After payment of the dividend, the per

SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

`16.4623 per unit dividend of April 2013 10.9169 10.9308 11.2313

10.7702

155.0060


Date of Allotment: Aug 18, 2001.Net Asset Value (NAV) Regular Plan: `1528.8175 (D), 2046.3127 (G) per unit.

Direct Plan: `1528.8586 (D), 2046.8585(G) per unit.AAUM: ̀ Cr. Benchmark : Crisil Short Term Bond Fund IndexFace Value ̀ 1000/-Average Maturity Period: 0.14 years.Minimum Application Amount: ̀ 5000/- & multiples of ̀ 1/- thereafter.

Sharpe Ratio:18.51 Standard Deviation: 0.17 Alpha: 3.19 Beta: 0.03(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013.)


Fund Manager: Mr. Rahul Pal Co-Fund Manager: Mr. Kapil Punjabi


230.68


Entry Load -NILExit Load -Up to any amount (Including SIP application):

0.25% if exited before 1 month Nil if exited after 1 month

Switch to any other schemes (Debt/Equity) - exit load applicable asmentioned above.

LOAD STRUCTURE

••

TAURUS SHORT TERM INCOME FUND - AN OPEN-END BOND SCHEME

Fund Manager's Comment: The AUM of the scheme reduced marginally and we continue to balance allocation to Bank and Non-bank assets to improve accruals. The portfolio will maintain the current duration for some time in the future. We would continue to have a judicious mix of assets in order to deliver consistent optimal performance.

Face Value changed from ̀ 10 to ̀ 1000 w.e.f. 26th Apr., 2010. Historical NAV adjusted as per new Face value of ̀ 1000


Name of the scrip Rating % to Net Assets

CP/CD

Bhushan Steel Ltd CARE A1+ 26.70Religare Securities Ltd CRISIL A1+ 13.38

Karvy Stock Broking Ltd ICRA A1+ 13.31Indiabulls Housing Finance Ltd CRISIL A1+ 7.54

Axis Bank Ltd ICRA A1+ 13.41

Indusind Bank Ltd CRISIL A1+ 10.75Syndicate Bank CARE A1+ 2.69

Total - CP/CD 87.79

CBLO


Total - CBLO

Corporate Bond

Manappuram Finance Ltd CARE A+ 4.38

Total - Corporate Bond

Treasury Bill

91 Days T-bill (MD 16/05/2013) SOV 0.14

Total - Treasury Bill 0.14


Total 100.00



PE

RF

OR

MA

NC

E


Period NAV Per Scheme Benchmark AdditionalUnit (`)* Returns (%)^ (Returns)(%) Benchmark Index

##CRISIL Short (Returns )(%) Scheme Benchmark Additional## Term Bond (`) (`) CRISIL Benchmark

Fund Index Short Term (`)Bond Fund

Index

Since inception till 1000.0000 6.27 6.27 5.67 20,280 20,263 18,988March 28, 2013March 30, 2012 to March 28, 2013 1838.6656 10.29 9.05 8.33March 31, 2011 to March 30, 2012 1671.1950 10.02 8.28 6.59 Not applicableMarch 31, 2010 to March 31, 2011 1558.9752 7.20 5.12 3.86

PORTFOLIO As on 31st March 2013


14

Date of Allotment: August 6, 2010

Direct Plan: ` 10.5979 (D), 12.3302(G) per unit.AAUM: ` Cr.Benchmark : 75% - Crisil MIP Blended Fund Index & 25% - Price of GoldFace Value ̀ 10/-Average Maturity Period (debt): 5.04 years.Minimum Investment Amount: a) Growth option: ̀ 5000/- & multiples of ̀ 1/- thereafter.b) Dividend option: ̀ 25000/- & multiples of ̀ 1/-thereafterc) Additional purchase: ̀ 1000/- & multiples of ̀ 1/- thereafterSharpe Ratio: -0.22 Standard Deviation: 3.84(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013)NAV Calculation: All business days.Fund Manager: Mr. Rahul Pal (Debt) & Mr. Sadanand Shetty (Equity & Gold ETFs)Co-Fund Manager: Mr. Kapil Punjabi (Debt)Registrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.


Net Asset Value (NAV) Regular Plan: ` 10.5908 (D), 12.3023 (G) per unit.

85.12


To generate regular income through a portfolio of fixed income securities, Gold ETFs and equity & equity related instruments.


Direct Plan : ` 0.065 per unit dividend in April 2013 ` 0.065 per unit dividend in March 2013 ` 0.065 per unit dividend in February 2013

Regular Plan: ` 0.065 per unit dividend in April 2013 ` 0.065 per unit dividend in March 2013 ̀ 0.065 per unit dividend in February 2013

` 0.065 per unit dividend in January 2013Total ̀ 0.74 per unit gross dividend for the period of January 2012-December 2012Total ̀ 0.4917 per unit gross dividend for the period of March 2011-December 2011Total ̀ 0.1417 per unit gross dividend for the period of October 2010-December 2010


SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

Investment Amount -Entry Load - NILExit Load - Up to any amount (Including SIP)

1% if exited before 180 days & Nil if exitedafter 180 days

Switch to any other schemes (Debt/Equity) - exit load applicable as mentioned above.

LOAD STRUCTURE

Up to any amount

*TAURUS MIP ADVANTAGE - AN OPEN - ENDED INCOME SCHEME(*Monthly Income is not assured and is subject to availability of distributable surplus. The term 'Advantage' has been used in terms of asset allocation and not in terms of returns/yield. )


Name of the scrip Rating % to Net AssetsDebt InvestmentCorporate BondManappuram Finance Ltd CARE A+ 9.00Hindalco Industries Ltd CRISIL AA+ 6.65Indiabulls Housing Finance Ltd CARE AA+ 6.48Export Import Bank Of India CRISIL AAA 4.58Total - Corporate Bond 26.71Government Bond8.33% GOI 2026 (m/d 09/07/2026) SOV 13.329.15% GOI (MD 14/11/2024) SOV 6.998.19% GOI (MD 16/01/2020) SOV 6.588.15% GOI (MD 11/06/2022) SOV 6.558.07% GOI (MD 03/07/2017) SOV 6.50Total - Government Bond 39.93Treasury Bill91 Days T-bill (MD 16/05/2013) SOV 0.32Total - Treasury Bill 0.32Equity InvestmentTop 10 HoldingsICICI Bank Ltd 1.19Oil & Natural Gas Corporation Ltd 1.17Larsen & Toubro Ltd 1.16Reliance Industries Ltd 1.14Tech Mahindra Ltd 1.06Infosys Ltd 1.01State Bank Of India 0.91Tata Motors Ltd 0.88Dr. Reddy's Laboratories Ltd 0.84Wipro Ltd 0.84Total Top 10 Holdings 10.20

Gold InvestmentExchange Traded FundsGoldman Sachs Gold ETF (Gold Bees) 5.94Total - Exchange Traded Funds 5.94CBLOClearing Corporation of India Ltd 2.09Total - CBLO 2.09Cash & Cash Receivables 4.35


Total 100.00NAV Per Unit (`) as at March 28, 2013: ̀ 12.0804

PE

RF

OR

MA

NC

E


Fund Manager's Comment:Debt: This fund invests in stocks across market capitalizations where there is potential for large index outperformance. Even though the market has remained volatile and negative for the last quarter, we have maintained a positive equity exposure through investments in financials, oil & gas and technology. We believe this fund should outperform in either market direction.Equity: The duration of the portfolio was increased as compared to the previous month as we increased exposure to high duration Government securities and corporate bonds.. We increased the maturity on the anticipation of monetary policy and inflation trajectory. We will continue with our strategy of trading in gilts as opportunity arises with a judicious mix of corporate bonds to enhance accruals in the scheme.Gold: While Gold prices have been coming down and currently standing close to 10-month lows, the global uncertainties have still not been subdued and that makes Gold a continued safe investment. We have reduced our exposure but still maintain a significant position.

Period NAV Per Scheme Benchmark Index (Returns)(%) Additional Benchmark (%)Unit (`)* Returns (%)^ 75% -CRISIL MIP Blended Fund Index CRISIL 10 year Gilt Index

and 25%-Price of Gold Returns (%)

Since inception till March 28, 2013 10.0000 7.40 10.45 6.69March 30, 2012 to March 28, 2013 11.4140 5.84 8.02 11.25March 31, 2011 to March 30, 2012 10.3644 10.13 12.99 2.43March 31, 2010 to March 31, 2011 NA NA NA NA

0.25

0.45

0.54

0.80

0.95

1.31

1.44

1.58

1.71

1.75

1.94

2.07

2.91

2.99

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50

Telecom - Services


Power

Construction




Petroleum Products

Pharmaceuticals

Finance

Oil

Auto

Software

Banks

15



To generate optimal returns with high liquidity through active management of the portfolio by investing in Debt and Money Market Instruments. However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns.


Direct Plan : ` per unit dividend in March 2013Regular Plan: ` per unit dividend in March 2013

` 0.2159 per unit dividend in December 2012 ` 0.2595 per unit dividend in September 2012

` 0.2553 per unit dividend in June 2012 ` 0.2458 per unit dividend in March 2012 ` 0.3386 per unit dividend in December 2011 ` 0.2250 per unit dividend in September 2011

Past performance may or may not be sustained in the future

All dividends are on face value of ̀ 10 per unit. After payment of the dividend, the per unit NAV falls to the extent of the payout and statutory levy, if anyfor complete details of the dividend declared please log on to www.taurusmutualfund.com

SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

0.28100.3179


Date of Allotment: Feb 14, 2011.Net Asset Value (NAV) Regular Plan: `10.4954 (D), 12.4954 (G) per unit.

Direct Plan: ` 10.5202 (D), 12.5211(G) per unit.AAUM: ̀ 59.76 Cr.Benchmark: Crisil Composite Bond Fund IndexFace Value ̀ 10/-Average Maturity Period: 8.82 years.Minimum Application Amount: ̀ 5000/- & multiples of ̀ 1/- .Sharpe Ratio: 1.75 Standard Deviation: 1.49 Alpha: 2.09Beta: 0.21(The above measures have been calculated by taking month end NAV for 1year period from 30th April, 2012 to 30th April, 2013)

NAV Calculation: All business days.Fund Manager: Mr. Rahul Pal Co-Fund Manager: Mr. Kapil PunjabiRegistrar & Transfer Agent: M/s. Karvy Computershare Private Ltd.

thereafter

TAURUS DYNAMIC INCOME FUND - AN OPEN ENDED INCOME SCHEME

Entry Load -NILExit Load - 1% if exited before 90 days

- Nil if exited after 90 days(Switch: Existing Equity Schemes to Taurus Dynamic Income Fund : Relevant exit load applicable)

LOAD STRUCTURE

Fund Manager's Comment: The duration of the portfolio was increased as compared to the previous month as we increased exposure to high duration Government securities and corporate bonds. We increased the maturity on the anticipation of monetary policy and inflation trajectory. We will continue with our strategy of trading in gilts as opportunity arises with a judicious mix of corporate bonds to enhance accruals in the scheme.


Name of the scrip Rating % to Net Assets

Corporate Bond

Export Import Bank Of India CRISIL AAA 10.42

Hindalco Industries Ltd CRISIL AA+ 8.18

Steel Authority Of India Ltd CARE AAA 8.06

Rural Electrification Corporation Ltd CRISIL AAA 7.98

Power Finance Corporation Ltd CRISIL AAA 7.96

Reliance Utilities & Power Pvt Ltd CRISIL AAA 7.84

Total - Corporate Bond 50.45

Government Bond

8.33% GOI 2026 (M/D 09/07/2026) SOV 16.37

8.97% GOI (MD 05/12/2030) SOV 8.58

8.15% GOI (MD 11/06/2022) SOV 8.05

7.83% GOI (MD 11/04/2018) SOV 7.93

Total - Government Bond 40.93

CBLO


Total - CBLO 4.82

Treasury Bill

91 Days T-bill (MD 16/05/2013) SOV 0.39

Total - Treasury Bill 0.39


Total 100.00


PE

RF

OR

MA

NC

E


Period NAV Per Scheme Benchmark (Returns)(%) Additional Benchmark Unit (`)* Returns (%)^ CRISIL Composite Bond Fund Index Index Returns (%)

CRISIL 10 year Gilt Index

Since inception till March 28, 2013 10.0000 10.01 8.58 7.27March 30, 2012 to March 28, 2013 11.1688 9.60 9.24 11.25March 31, 2011 to March 30, 2012 10.1219 10.34 7.68 2.43March 31, 2010 to March 31, 2011 NA NA NA NA



Date of Allotment: Aug 18, 2001.Net Asset Value (NAV) Regular Plan: ` 15.773 (D), 16.1231 (G) per unit.

Direct Plan: ` 15.8095 (D), 16.1609 (G) per unit.AAUM: ̀ 0.11 Cr. Benchmark : I Sec Composite IndexFace Value ̀ 10/-Minimum Application Amount: ̀ 5000/- & multiples of ̀ 1/- thereafter.Sharpe Ratio: -2.13 Standard Deviation: 0.75 Alpha: -1.56Beta: -0.01(The above measures have been calculated by taking month end NAV for 1yearperiod from 30th April, 2012 to 30th April, 2013.)


Fund Manager: Mr. Rahul Pal Co-Fund Manager: Mr. Kapil Punjabi



To provide risk free returns to the investors even for a shorter duration through investment in securities issued by Central Government or State Government or any security unconditionally guaranteed by Government of India. Investment will also be made in repos and reverse repos.


` 0.30 per unit dividend declared in the scheme in February 2002.


SCHEME FEATURES

DIVIDEND HISTORY

Liquidity

Entry Load - NILExit Load - Up to any amount (Including SIP application):

1% if exited before 1 year Nil if exited after 1 year

Switch to any other schemes (Debt/Equity) - exit load applicable as mentioned above.

LOAD STRUCTURE

• •

TAURUS GILT FUND - AN OPEN-END GILT SCHEME

16



CBLO


Total - CBLO 95.12


Total 100.00

Fund Manager's Comment: The scheme, having a low AUM remained in cash.



PE

RF

OR

MA

NC

E


Tax BenefitsDividend distributed by the Scheme (s) are free from Income - tax in the hands of Investors. The additional Income-tax on distribution of dividend by a money market mutual fund or a liquid fund to an individual /HUF shall be payable at the rate of 27.038%* and at the rate of 32.445%* to any other investor. The additional income-tax on distribution of dividend by any other debt fund to an individual/HUF shall be payable at the rate of 13.519%* and at the rate of 32.445% on distribution of dividend to any other investor. Units of the Scheme(s) are not subject to Wealth-tax and Gilt-tax. Unit holders are required to pay Securities Transaction Tax (STT) at the rate of 0.25% at the time of redemption /switch-out of units of an equity oriented fund.*Including applicable surcharge, education cess and secondary and higher education cess.Investors should be aware that the fiscal rules/tax laws may change and there can be no guarantee that the current tax position may continue indefinitely. In view ofindividual nature of tax consequences, each investor is advised to consult his /her own professional tax advisor.

Experience of Fund Managers

Fund Manager Total Experience

Sadanand Shetty Over 18 yearsRahul Pal Over 11 yearsAbhinav Sharma Over 7 yearsKapil Punjabi Over 6 years

Direct Plan introduced for all schemes with effect from January 1, 2013

Period NAV Per Scheme Benchmark AdditionalUnit (`)* Returns (%)^ Index Benchmark

(Returns)(%) Index Scheme Benchmark (`) AdditionalI-Sec Composite (Returns)(%) (`) I-Sec Composite Benchmark

Index Index (`)

Since inception till 10.0000 4.15 7.29 7.50 16,037 22,640 23,183March 28, 2013March 30, 2012 to March 28, 2013 15.2566 5.12 11.64 11.25March 31, 2011 to March 30, 2012 14.3563 6.27 6.79 2.43 Not applicableMarch 31, 2010 to March 31, 2011 13.9166 3.16 6.41 4.61

get your share taurus starshare · mutual fund investments are subject to market risks, read all...

Documents