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KARVY’s

Jun, 2019

INVESTOR JOURNAL

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What’s Inside

KARVY’sINVESTOR JOURNAL

Fund of the MonthAditya Birla SL Equity Fund(G)An open-end growth Scheme withobjective of long term growth of...Jun, 2019

Market ReviewPage 01

Karvy Investment InsightPage 03

Fund of The MonthPage 04

Readers CornerPage 05

Story of The MonthPage 06

SIP PerformancePage 07

Category Average ReturnsPage 08

Fixed Deposits SchemesPage 09

Equity Funds PerformancePage 10

Debt Funds PerformancePage 11

Global Markets at a GlancePage 12

Indices WatchPage 13

Highlights of the Month » According to the data released by the Association of Mutual

Funds in India, the Asset under management (AUM) of the mutual fund industry has grown by 4.17% from Rs. 23.80 lakh crore in March 2019 to Rs. 24.79 lakh crore in the month of April 2019.

» Systematic investment plans (SIPs) flows slightly increased by 2.3% to Rs. 8,238 crore in April 2019 from Rs. 8,055 crore in March 2019.

» Liquid funds witnessed a net inflow of Rs. 89,778 crore during the month April 2019 against a net outflow of Rs. 51,343 crore in the month of March 2019.

» Balance Funds witnessed a net outflow of Rs. 1,615 crore in the month April 2019 compared to an outflow of Rs. 3,181 crore in the month of March 2019.

» Net inflows into equity mutual funds decreased 64% in April and lowest in 31 months. This is due to uncertainty related to general elections and a rise in crude oil prices.

» In April, net inflows into equity mutual funds fell to Rs.4,229.47 crore from Rs.11,756 crore in the month of March 2019.

» The mutual fund industry as a whole saw a net inflow of Rs. 1,00,460 crore in April 2019 compared with a net outflow of Rs. 22,357 crore in March 2019. This Inflow was mainly led by liquid funds and other debt oriented funds.

» IDFC Mutual Fund has removed the restriction of Rs.2 lakh per transaction in IDFC Focused Equity Fund, effective from May 17, 2019.

» DHFL Pramerica Mutual Fund announced the merger of schemes. DHFL Pramerica Floating Rate Fund will get merged to DHFL Pramerica Ultra Short Term Fund. DHFL Pramerica Medium Term Fund will get merged to DHFL Pramerica Credit Risk Fund.

» SBI Mutual Fund has revised the minimum redemption amount to Rs. 500 or 1 unit or account balance whichever is lower effective from May 4. Earlier, the minimum redemption amount was Rs. 500 or 50 units or account balance whichever is lower.

» Foreign institutional investors remain net buyers Infused around Rs. 9,000 crores in the Indian capital markets in the May month.

» GDP falls below 6 per cent to 5.8 per cent in March quarter, lowest growth rate recorded since 2014-15.

Page 04

INVESTOR JOURNALJun, 2019

Market Review

Exports:

» Exports in April 2019 were USD 26.07 Billion, as compared to USD 25.91 Billion in April 2018, exhibiting a positive growth of 0.64%.

» Petroleum products (30.75%); Electric goods (27.78%); Organic & Inorganic chemicals (15.06%); Ready-made textiles (4.42%) and Drugs and Pharmaceuticals (4.03%) showed a high positive export growth during the month.

» Non-petroleum and Non Gems and Jewellery exports in April 2019 were USD 19.54 Billion, as compared to USD 19.80 Billion in April 2018, exhibiting a negative growth of 1.31%.

Imports:

» Imports in April 2019 were USD 41.40 Billion, which was 4.48% higher in Dollar terms over imports of USD 39.63 Billion in April 2018.

» Transport equipments (-31.69%); Vegetable oil (-20.70%); Pearls, Precious & Semi-precious stones (-8.90%) showed a negative Import growth during the month.

Crude Oil and Non-Oil Imports:

» Oil imports in April 2019 were USD 11.38 Billion, which was 9.26% higher in Dollar terms, compared to USD 10.41 Billion in April 2018.

» Non-oil imports in April 2019 were estimated at USD 30.02 Billion which was 2.78% higher in Dollar terms, compared to USD 29.21 Billion in April 2018.

Trade Balance:The trade deficit for April 2019 was increased to USD 15.33 Billion as against the deficit of USD 13.72 Billion in April 2018.

CPI Inflation:CPI inflation in India inched upward by 2.92% in April of 2019 from 2.86% rise in March 2019. It is the highest inflation rate in the last 6 months due to rise in food prices.

WPI Inflation:Wholesale prices in India rose by 3.07%% in April 2019 from 3.18% rise in the prior month. This mainly led by a faster rise in the cost of food and cost slowed for both fuel and manufactured products.

IIP:India’s industrial production (IIP) was down to -0.1% from a year earlier in March 2019, the first month of contraction since June 2013. Manufacturing production was down by 0.4 percent, while mining output rose at a softer pace, up by 0.8% vs 2.2% in the previous month.

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

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Indian indices Sensex and Nifty 50 gave a return of 1.75% and 1.49% respectively during the May month. Among the BSE sectoral indices, S&P BSE capital goods was the top performers with 10.59%. Foreign institutional investors remain net buyers in the Indian capital markets in the May month. The mutual fund industry as a whole saw a net inflow of Rs. 1,00,460 crore in April 2019.This Inflow was mainly led by liquid funds and other debt oriented funds. net inflows into equity mutual funds fell to Rs.4,229.47 crore in April month.

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S&P BSE SENSEX

Date Close Price Points Diff %age Change

30-Apr-19 39,031.55

6-May-19 38,600.34 (431.21) -1.10%

13-May-19 37,090.82 (1,509.52) -3.91%

20-May-19 39,352.67 2,261.85 6.10%

27-May-19 39,683.29 330.62 0.84%

Overall Change for the month 1.75%

NIFTY 50

Date Close Price Points Diff %age Change

30-Apr-19 11,748.15

6-May-19 11,598.25 (149.90) -1.28%

13-May-19 11,148.20 (450.05) -3.88%

20-May-19 11,828.25 680.05 6.10%

27-May-19 11,924.75 96.50 0.82%

Overall Change for the month 1.49%

Sensex & Nifty: (Month Between 30-Apr-2019 to 31-May-2019)

MF Activity: (Month Between 01-May-2019 to 31-May-2019)

Equity

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

6-May-19 2,288.92 1,862.87 426.05

13-May-19 2,670.93 1,829.69 841.24

20-May-19 3,563.59 3,858.53 -294.94

27-May-19 2,830.22 2,994.04 -163.82

Total 61,422.22 56,258.50 5,163.72

Debt


6-May-19 8,172.72 6,880.22 1,292.50

13-May-19 7,714.64 4,762.05 2,952.59

20-May-19 11,420.01 10,479.92 940.09

27-May-19 11,762.15 9,636.67 2,125.48

Total 242,203.47 210,863.47 31,340.00

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FII Activity: (Month Between 01-May-2019 to 31-May-2019)Equity


6-May-19 4,377.25 4,467.01 -89.76

13-May-19 3,494.05 4,742.62 -1,248.57

20-May-19 4,128.13 5,255.48 -1,127.35

27-May-19 6,027.76 5,635.78 391.98

Total 141,247.34 133,327.61 7,919.73

Debt


6-May-19 483.21 4,837.21 -4,354.00

13-May-19 655.09 933.68 -278.59

20-May-19 432.45 732.11 -299.66

27-May-19 2,473.30 967.92 1,505.38

Total 28,621.65 27,510.23 1,111.42

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

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Karvy Investment Insight

Peace of mind and Wealth Creation ideas for long term

Karvy Insights brings to you investment wisdom to help you make sound investment decisions to reach your goals faster. These inputs may not help you become wealthy within a short span of time, but they would definitely bring you peace of mind and act as a roadmap for your financial journey.

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SIP and SWP: Aid for a Perfect Financial Diet----------------------------------------------------------------------------------------------------------------------------------------------------------

Just like good food habits, good money habits from the start can ensure that you effectively meet your financial Goals. Let’s talk about two good financial habits that you can inculcate with Mutual Funds.

SIPWhat is it - Systematic Investment Plan

What does it do - Allows you to invest in a Mutual Fund scheme of your choice periodically in small amounts?

Advantages - Cost averaging and compounding.

• Cost averaging means, you buy more units when markets are low and lesser units when markets are high. That averages your purchase cost and also protects against volatility.

• Compounding means, the returns from your investment are re-invested in the principal amount of investment. Thus the longer you remain invested in a SIP, the more you stand to gain.

How to use a SIP

You can tie each SIP you invest in a separate financial Goal. You can begin with an investment of as low as Rs.500 and use the top-up facility of SIPs to increase your investments as your salary or cash flow increases.

Investing in MFs through the SIP facility is akin to making an EMI payment but towards the Goal of wealth creation. By linking each SIP to a separate financial Goal, you can ensure that you can meet all your financial Goals promptly.

SWPWhat is it - Systematic Withdrawal Plan

what does it do - Allows you to withdraw a fixed amount from your existing investment by selling some units? In effect, it’s an opposite of a SIP.

Advantages - Cost averaging and Tax benefits.

• Cost averaging: The same principle of cost averaging is applicable in the SWP context as well.

• Tax efficiency: Any gain on the sale of MF units attracts Short Term Capital Gains Tax (STCG) of 15%. However, the sale of SWP is in smaller units from the principal amount and thus does not attract STCG.

How to use an SWPAn SWP is an effective way of earning a fixed income at regular intervals from your existing investments in Mutual Funds.

An SWP is especially helpful for a retiree looking to supplement pension income.

Source : UTI AMC


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‘Tweets’ of the Month

Fund of The Month

Aditya Birla SL Equity Fund(G)

Investment Objective:

An open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities.

Portfolio:

Top 10 Companies Holdings

Name %age

HDFC Bank Ltd. 9.0

ICICI Bank Ltd. 8.8

ITC Ltd. 4.3

Dr. Reddys Laboratories Ltd. 4.3

Tata Steel Ltd. 4.0

Tech Mahindra Ltd. 3.8

Infosys Ltd. 3.5

Tata Chemicals Ltd. 3.3

Bajaj Finance Ltd. 2.5

Hindalco Industries Ltd. 2.3

Top 10 Sector Wise Holding

Industry Name (%)

Bank - Private 22.5

IT - Software 9.1

Pharmaceuticals & Drugs 8.0

Finance - Investment 6.1

Finance - NBFC 5.6

Cigarettes/Tobacco 4.3

Steel & Iron Products 4.0

Chemicals 3.8

Cement & Construction Materials 3.6

Metal - Non Ferrous 3.6

To read the full Information, Click Here

Indicates an increase or decrease or no change in holding since last profile. Indicates an increase or decrease in holding since last portfolio.

INVEST HERE

A torn ten rupee note in wallet hurts us but few lacs in idle savings account of crisp

notes doesn’t bother us.

- Kalpen Parekh @KalpenParekh

Source : ACE MF

Always be thankful for the bad things in life. They open your eyes to see the good things you

weren’t paying attention to before.

- LIFE QUOTES@ItsLifeFact

Inflation compounds your savings in the wrong direction. Investing compounds

your savings in the right direction.

- The Motley Fool @themotleyfool

Successful people aren’t just creators. They’re marketers too. They push their

ideas into the world. They carry them forward, fight for them, evangelize them, and make sure

people see them. In the words of Steve Jobs: “They put a ding in the universe.”

- David Perell @david_perell

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Readers Corner

5

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Whether you’re a first time investor or an experienced one, mutual funds are often considered by experts to be an investor’s best friends due to their many advantages. But with so many different options available today, how do you make the right choices for your portfolio? Let us look at some of the key factors you should keep in mind while selecting funds:

1. Investment Objective and StyleThe investment objective of a scheme is what the scheme intends to achieve through its investments. For instance, an equity diversified fund may have the objective of investing in growth stocks to achieve capital appreciation; a sector fund will have the objective to invest in companies in the chosen sector to achieve capital growth and earn dividends. When you consider the investment objective, you will need to consider whether or not it matches your financial goals and requirements. This should also incorporate the timing of your financial goals and other elements such as your risk profile (your ability to take risks and your tolerance towards risk).

To make it easier to understand, consider a mismatch: Rakesh is retiring and needs to secure his income; he invests in a sector fund with high volatility because in the last 2 years, the fund has outperformed the relevant sectoral index. Imagine that at the time when Rakesh needed the income from the fund, there was a reversal in the fortunes of that sector and the fund value falls. Rakesh’s income will dwindle. He may also lose some of the capital that he invested at the outset. Considering Rakesh’s life stage and risk profile, he would have been better off investing in a low-risk income fund. Was the product the problem or was the choice of product in the given circumstance the issue?

You also need to consider your risk profile to identity how best to build your mutual fund portfolio according to investment styles. For example, you may choose to do this according to market capitalization (small & micro-cap/ mid cap/ large cap) or according to fund management style (seeking growth, discovering value, a blended approach etc). All of this information is readily available on the asset management companies’ websites and in the Scheme Information Documents.

2. Role of the fundDifferent mutual fund products have different roles to play, just like the characters on a chess board, or the members of a cricket team. Some are meant to be aggressive, some are meant to be balanced and some are meant to be conservative. Identifying what role a product needs to play will keep your portfolio clean and well balanced. Think of teamwork every time you consider your portfolio and then think of the reason why a particular fund is there in your portfolio. If you cannot remember the reason why you bought a fund in the first place, or you cannot understand why you’re adding a new fund to your portfolio, it could be an indication of the need for you to rethink your decision.

3. Your time horizon and risk profileThe next factor to consider is the time horizon of your financial goal. In general, the closer the goal is, the lower the risk you should seek to take, especially if you are close to achieving the goal. For instance, taking the above example forward, since Rakesh has reached retirement, he should invest in a low-risk income fund. However, if Rakesh was in his 20’s or 30’s, he could have invested in a high-risk equity fund to build wealth for his retirement. Had Rakesh been in his 40’s, he would do well to invest in a mix of equity and hybrid funds (which invest a part of its corpus in equity and the balance in debt).

4. Performance / track recordYou should consider the following points while analyzing the performance of a fund:

• Consistency: The fund should have performed consistently in the past vis-à-vis its benchmark index and the category average (the average returns of all schemes within that category). The past in this case is not only the last 6 months, it should include 1 year, 3 years, 5 years as well as since inception comparisons.

• Outperformance: A fund that consistently outperforms its peers and its designated benchmark over the short and long term is generally considered to be well-run and most likely to bring you positive returns. However, as the famous saying goes, there is no guarantee of this!

• Volatility, or variation in performance: The volatility in returns of the fund should be in sync with its objectives; for instance, if the fund is a high-risk-high potential return fund, then volatility is a given; however, if it is a low-risk fund, the returns should not be volatile. This can be checked with the help of risk ratios published in the fund factsheets.

• Fund Manager: Assess the fund manager’s track record – both in terms of his experience & reputation and the past performance of the other funds under his management. In general, a fund manager’s skills are visible across the entire range of funds he manages.

• Size of the fund: Small is not, in general, beautiful in the mutual funds’ world. While the largest fund may not necessarily have the best performance or strategy to match your goals, an optimal size would ensure your ability to cash in your investment when you need it, and for the fund manager to be able to execute his or her investment strategy. However, it is true that higher the assets under management, higher the number of investors that trust the fund manager in question.

5. Fund expensesAll funds incur expenses to manage the fund (fund management fees, administration charges, brokerage, marketing and sales expenses, commissions, etc.) All of these expenses are chargeable to the fund’s investors as a percentage of assets under management, and are described as the “total expense ratio” or TER of a fund. Lower the TER, the better the return potential on your investment.

6. Tax impactDifferent mutual fund categories are taxed differently.

If you invest in an equity-oriented mutual fund and hold your investment for more than 12 months, your long term capital gains exceeding Rs 1 lakh per financial year will be taxable at 10% (without indexation) as per the Finance Bill, 2018 w.e.f 1st April, 2018. However, if you hold the same for less than 12 months, it attracts tax at 15%.

Note: Here, 12 months is the cut off time to be considered as ‘Long Term’.

In case of debt-oriented funds, if you hold your investments for more than 3 years, you can take the benefit of indexation (which reduces the cost of your investment, and thereby, the capital gains). Here, 36 months is considered as the cut off time to be considered ‘Long Term’. However, holding for less than 3 years results in paying taxes based on the tax slab your total income falls in.

If you are unsure of the tax implications of investing in the fund, consult a financial advisor.

The factors mentioned above are all important indicators but you would be best advised to not consider any one in isolation before choosing a mutual fund for your portfolio. A professional financial advisor can help you go about selecting the right funds for your portfolio in the best possible manner.

WHAT ARE THE FACTORS TO KEEP IN MIND BEFORE CHOOSING A MUTUAL FUND?

Source : DSP AMC


Story of The Month

One day, a Master was watching a practice session in the courtyard.

He realized that the presence of the other students was interfering

with one young man’s attempt to perfect his technique.

The Master could sense the young man’s frustration. He went up

to the young man and tapped him on his shoulder.

“What’s the problem?” he inquired.

“I don’t know”, said the youth, with a strained expression. “No

matter how much I try, I am unable to execute the moves properly”.

“Before you can master the technique, you must understand

harmony. Come with me, I will explain”, replied the master.

ACHIEVING GOALS

MORAL OF THE STORY:

Courtesy : Karvy Learning Center

Direct Dil Se…

6

If we want to achieve our goal then we must try to get in harmony with ourselves and not let the presence of other people affect us.

Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it or work around it.

The Master and student left the building and walked some distance into the woods until they came upon a

stream. The Master stood silently on the bank for several moments. Then he spoke.

“Look at the stream,” he said. “There are rocks in its way. Does it slam into them out of frustration? It

simply flows over and around them and moves on! Be like the water and you will know what harmony is.”

The young man took the Master’s advice to heart. Soon, he was barely noticing the other students around

him. Nothing could come in his way of executing the most perfect moves.


7

S&P BSE SENSEXCurrent NAV (`)

3 Year SIP 5 Year SIP

Rs.36000 Rs.60000

Profit-SIP XIRR(%) Profit-SIP XIRR(%)

Large and Large and mid cap

Canara Rob Emerg Equities Fund-Reg(G) 95.90 5,736.76 9.86 23,827.15 13.35

Invesco India Growth Opp Fund(G) 34.53 6,481.05 11.07 20,445.46 11.69

Mirae Asset Emerging Bluechip-Reg(G) 54.44 7,781.75 13.16 30,951.17 16.67

Principal Emerging Bluechip Fund(G) 105.26 3,910.44 6.83 20,112.56 11.52

Sundaram Large and Mid Cap Fund(G) 35.31 7,042.63 11.98 22,424.83 12.67

Multi Cap

Canara Rob Equity Diver Fund-Reg(G) 138.19 7,842.20 13.25 20,401.39 11.67

ICICI Pru Multicap Fund(G) 300.05 5,689.69 9.79 19,218.16 11.07

Mirae Asset Large Cap Fund-Reg(G) 52.31 7,801.44 13.19 24,702.84 13.77

Parag Parikh Long Term Equity Fund-Reg(G) 25.05 6,199.63 10.62 19,880.16 11.40

Quant Active Fund(G) 187.59 6,258.99 10.71 20,340.52 11.64

Mid Cap & Small Cap

Axis Midcap Fund(G) 36.84 7,170.59 12.18 20,479.11 11.71

HDFC Small Cap Fund-Reg(G) 44.09 6,288.92 10.76 25,132.32 13.98

L&T Emerging Businesses Fund-Reg(G) 24.38 2,817.54 4.97 21,183.12 12.06

Reliance Small Cap Fund(G) 41.03 4,037.16 7.04 22,086.03 12.50

SBI Small Cap Fund-Reg(G) 52.63 5,392.22 9.30 27,199.03 14.95

ELSS

Aditya Birla SL Tax Plan(G) 39.41 4619.15 8.02 17998.13 10.44

Aditya Birla SL Tax Relief '96(G) 31.71 4942.53 8.55 19127.25 11.02

Axis Long Term Equity Fund(G) 46.11 7667.94 12.98 22613.86 12.76

Canara Rob Equity Tax Saver Fund-Reg(G) 67.80 8123.22 13.70 21014.93 11.97

Invesco India Tax Plan(G) 51.85 5941.37 10.20 19501.73 11.21

Sector

ICICI Pru Banking & Fin Serv Fund(G) 69.14 10,079.42 16.74 34,082.31 18.06

ICICI Pru FMCG Fund(G) 238.89 6,000.53 10.29 20,237.67 11.58

ICICI Pru Technology Fund(G) 58.85 9,695.86 16.15 21,472.10 12.20

SBI Banking & Financial Services Fund-Reg(G) 19.09 12,976.52 21.09 - -

SBI Technology Opp Fund-Reg(G) 65.81 10,169.75 16.88 21,646.41 12.29

Index

HDFC Index Fund-Sensex(G) 351.24 8,935.70 14.97 22,037.31 12.48

IDFC Nifty Fund-Reg(G) 24.57 8,112.37 13.68 20,821.17 11.88

Reliance Index Fund - Sensex Plan(G) 19.50 8,490.68 14.28 20,309.10 11.62

Tata Index Fund-Sensex Plan(G) 97.45 8,752.80 14.69 21,025.04 11.98

As on 31st May’19 Source : ACE MF

SIP Performance


Category Average Returns

Category Sub Category1 Week Return

1 Month Return

6 Month Return

1 Year Return

3 Year Return

5 Year Return

Since Inception

Market Cap

Large-cap 0.74 2.11 8.17 6.13 12.23 11.35 10.99

Large and mid cap 1.07 1.97 6.86 2.53 12.69 13.74 13.83

Mid-cap 1.12 2.14 5.38 -2.96 11.26 14.11 9.15

Multi-cap 0.95 2.27 6.79 1.05 12.23 12.51 8.58

Small-cap 1.41 2.82 6.11 -9.05 11.14 15.56 5.86

Sector Funds

Banks & Financial Services 0.57 5.89 16.73 11.91 18.94 15.35 16.74

Consumption 0.44 0.43 2.57 -1.08 12.71 11.60 8.34

Energy & Power 1.52 2.64 7.96 -2.73 14.22 11.59 13.22

Infrastructure 1.25 5.18 11.15 -0.80 11.75 10.11 7.27

Pharma & Health Care -0.56 -5.23 -3.76 4.22 -1.88 7.89 5.10

Service Industry 1.51 1.97 7.50 0.46 8.99 14.22 13.77

TECk 2.57 -3.31 6.23 8.56 11.67 13.90 13.08

Speciality

Contra 0.89 1.56 6.96 5.43 15.97 14.67 13.43

Dividend Yield 1.40 0.10 5.26 -1.37 12.04 10.40 11.75

Global -0.39 -5.11 2.21 2.12 9.23 7.02 8.30

MNC 1.17 0.31 1.63 -0.75 8.84 15.27 16.01

Equity Exchange Traded Funds 0.72 1.66 9.08 10.98 15.04 9.77 10.67

Equity Linked Savings Scheme 0.92 2.39 7.06 0.60 12.79 13.21 10.17

Equity Savings Scheme 0.62 1.33 4.81 5.43 7.68 7.47 6.56

Focused Fund 0.99 1.97 8.74 3.75 13.09 13.48 9.16

Index

Nifty 0.57 1.42 9.38 10.70 13.65 10.73 11.62

Nifty Next 50 0.95 0.06 0.66 -4.73 12.17 12.14 6.33

Sensex 0.72 1.80 9.55 12.59 14.50 10.65 13.16

Others 0.92 -0.16 3.91 0.07 9.24 9.37 11.88

Aggressive Hybrid Fund 0.84 1.89 6.23 4.46 10.54 10.95 10.41

Balanced FundsBalanced advantage 0.71 1.77 7.15 8.26 12.54 11.43 10.19

Balanced hybrid 16.56 13.56 9.81 6.93 7.37 5.69 7.12

Capital Protection Funds 20.87 12.31 8.99 6.97 6.85 7.08 7.65

Conservative Hybrid Fund 31.81 18.54 9.83 6.14 7.52 8.38 8.50

Dynamic Asset Allocation 0.69 1.16 4.20 3.83 8.13 8.97 8.02

Multi Asset Allocation 0.81 1.35 5.59 4.63 8.05 8.39 10.52

Gold - FOF 167.31 49.18 10.81 3.00 1.06 1.90 0.91

Gold Exchange Traded Funds 2.17 3.76 4.41 4.38 2.50 2.98 4.34

Banking and PSU Fund 14.86 21.23 10.00 9.16 7.51 7.95 8.69

Corporate Bond -14.22 10.91 8.71 7.82 7.29 7.89 7.82

Credit Risk Fund -90.48 -15.22 1.47 3.25 6.00 7.51 7.31

Dynamic Bond -10.10 14.50 8.52 8.27 6.99 7.93 7.62

Fixed Maturity Plans -10.23 9.64 8.46 8.10 7.68 8.07 8.64

GiltLong Term 47.15 36.89 14.49 14.01 9.25 10.12 8.33

Short and Medium term 41.84 30.87 12.58 11.28 7.90 8.85 8.31

Floating Rate 9.25 9.42 8.72 8.19 7.31 7.72 8.02

Duration

Long duration 56.85 47.33 16.35 13.09 8.94 9.34 13.22

Low Duration -42.37 -2.62 6.06 6.83 6.98 7.51 7.47

Medium Duration -31.39 2.45 5.31 5.98 6.91 7.90 7.78

Medium to Long Duration 6.32 21.86 9.52 8.77 6.74 7.62 8.22

Money Market 4.48 8.46 8.06 7.48 7.07 7.61 7.61

Overnight 5.68 5.74 6.01 6.07 6.06 6.70 6.33

Short Duration -28.52 5.26 7.43 7.21 6.87 7.42 7.53

Speciality-Debt

Interval Funds - Half Yearly 5.45 5.49 5.92 6.23 6.74 7.38 7.86

Interval Funds - Monthly 6.25 6.40 6.53 6.77 6.67 7.26 7.80

Interval Funds - Quarterly 6.38 6.53 6.81 7.15 6.94 7.48 8.04

Interval Funds - Yearly -19.48 2.38 6.21 6.74 7.00 7.63 8.13

Liquid 6.65 6.79 6.93 6.86 6.73 7.36 7.21

Ultra Short Term Plan -24.29 1.44 5.66 5.83 6.56 7.38 7.46

Note: Debt & Gold funds are annualised for less than 1 years returns.

Returns are as on 04th Jun’198

Source : ACE MF


Fixed Deposits Schemes

9

FD Name Rating IndustryInterest Rate

* (Up to)

Bajaj Finance Ltd.FAAA by CRISILICRA MAAA

Bajaj Finserv is the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category.

9.10%

Gruh Finance Ltd.MAAA by ICRA, FAAAby CRISIL

GRUH Finance Ltd is subsidiary of HDFC Ltd is housing finance company (HFC) recognized by National Housing Bank.

8.50%

HDFC Ltd.FAAA by CRISIL, MAAA by ICRA

A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 4.9 million customers to own a home of their own. HDFC is the Largest mobiliser of public deposits outside the banking system and the HDFC Group has a strong asset base of over Rs.2.97 trillion and a customer base of over 42.5 million.

8.39%

HUDCO‘tAA+(ind)’ by FITCH, ‘CARE AA+(FD)’ by CARE

HUDCO is a premier techno-financing company set up in 1970 by the Government of India to accelerate the pace of housing and urban development in the country.

7.75%

ICICI Home Finance Ltd

CARE FAAA, ICRA MAAA

ICICI Home Finance Company Limited is one of the leaders in the Indian mortgage finance and realty space.

8.50%

LIC Housing Finance Ltd.

FAAA / STABLE by CRISIL

One of India’s largest housing finance companies, having nation-wide network. Consistent record of dividend payments.

8.55%

Mahindra & Mahindra Financial Services Ltd

CRISIL FAAAMahindra and Mahindra Financial Services Limited (MMFSL) commenced its journey two decades back in the rural non-banking finance industry.

9.05%

PNB Housing Finance Ltd.

FAAA by CRISILPNB Housing Finance (PNBHF) is a subsidiary of Punjab National Bank and a partner of Destimoney Enterprises Pvt. Ltd. PNBHF was incorporated in 1988 and is based in New Delhi.

8.70%

Shriram City Union Finance Ltd.

IND +AA- CARE AA FD

As a deposit-accepting non-banking financial company (NBFC), Shriram City is today India’s premier financial services company specializing in retail finance.

9.50%

Shriram Unnati Deposits

FAAA/Stable by CRISIL, MAA+/Stable by ICRA

With a track record of about 30 years in this business, STFC is among the leading organized finance provider for the commercial vehicle industry

9.50%

Sundaram Home Finance Ltd.

ICRA MAA+Sundaram BNP Paribas Home Finance combines its expertise in Home Finance with the Service Orientiation of its promoter Sundaram Finance.

8.50%

* highest rate including additional interest for Senior citizens, employees etc. wherever applicable

Current/Forthcoming NCDs:

S.No Company Lead Managers

1 Muthoot Finance Limited Edelweiss Financial Services Limited and A. K. Capital

Services Limited

2 Indiabulls Consumer Finance LimitedEdelweiss Financial, A. K. Capital, Axis Bank & Trust

Investment Advisors

Know More

Know More

https://www.karvyvalue.com/latest-ncds/Muthoot-finance-ltd-ncd-may-2019.aspxhttps://www.karvyvalue.com/latest-ncds/indiabulls-consumer-finance-ltd-ncd-may-2019.aspx


Equity Funds Performance

Scheme NameLatest

NAV (`)

Absolute CAGR0

1 Year 3 Year 5 YearSINCE

INCEPTION

Market Cap

Mirae Asset Emerging Bluechip-Reg(G) 55.12 12.67 19.37 22.14 21.12

HDFC Small Cap Fund-Reg(G) 43.86 -4.01 17.74 16.65 14.15

Reliance Large Cap Fund(G) 36.60 15.04 16.79 14.22 11.60

Canara Rob Emerg Equities Fund-Reg(G) 96.50 3.93 16.55 19.45 17.26

HDFC Top 100 Fund(G) 520.49 17.29 16.16 11.48 20.03

ELSS

Axis Long Term Equity Fund(G) 46.68 7.32 14.55 16.50 17.74

DSP Tax Saver Fund-Reg(G) 49.85 10.01 14.40 14.44 13.85

Invesco India Tax Plan(G) 52.41 5.19 13.38 14.94 14.25

ICICI Pru LT Equity Fund (Tax Saving)(G) 390.44 10.41 13.19 11.84 20.33

Aditya Birla SL Tax Relief '96(G) 31.97 1.58 13.06 15.74 11.01

Sector

ICICI Pru Banking & Fin Serv Fund(G) 69.58 16.44 22.68 18.31 19.70

ICICI Pru Technology Fund(G) 58.98 9.66 11.74 14.10 9.65

Reliance Pharma Fund(G) 144.95 7.71 3.42 10.68 19.51

SBI Banking & Financial Services Fund-Reg(G) 19.22 20.39 22.43 - 16.54

Tata Digital India Fund-Reg(G) 15.29 10.24 13.11 - 13.17

Thematic

Canara Rob Consumer Trends Fund-Reg(G) 40.16 6.63 16.01 15.94 15.37

Invesco India Contra Fund(G) 49.26 5.14 16.41 16.20 14.02

Kotak India EQ Contra Fund(G) 54.37 9.09 15.82 12.48 12.99

Principal Dividend Yield Fund(G) 54.80 4.22 16.70 12.24 12.32

Sundaram Rural and Consumption Fund(G) 42.16 -1.43 12.15 15.59 11.64

Value

HDFC Capital Builder Value Fund(G) 303.84 4.29 14.36 13.53 14.42

IDFC Sterling Value Fund-Reg(G) 52.24 -4.68 14.88 13.94 15.84

JM Value Fund(G) 32.90 4.57 14.91 13.82 16.06

L&T India Value Fund-Reg(G) 37.12 2.69 13.96 16.04 14.96

Tata Equity P/E Fund(G) 137.99 -0.40 16.19 15.01 19.21

Index

HDFC Index Fund-NIFTY 50 Plan(G) 109.72 13.84 14.67 11.22 15.02

HDFC Index Fund-Sensex(G) 356.14 14.93 15.41 11.17 15.30

ICICI Pru Nifty Next 50 Index Fund(G) 24.87 -2.74 12.72 12.28 10.72

IDFC Nifty Fund-Reg(G) 24.92 13.88 14.65 11.17 10.55

UTI Nifty Index Fund-Reg(G) 78.74 14.02 14.79 11.23 11.31

Performance as on 04th Jun’19

10Source : ACE MF


Debt Funds Performance

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 YearSINCE

INCEPTION

Gilt Funds

Aditya Birla SL G-Sec Fund(G) 53.75 12.30 9.19 10.22 8.93

ICICI Pru Gilt Fund(G) 65.15 9.71 8.46 9.42 9.93

Reliance Gilt Securities Fund(G) 25.71 13.19 9.69 10.32 9.15

SBI Magnum Constant Maturity Fund(G) 42.00 12.99 9.97 10.23 8.09

UTI Gilt Fund-Reg(G) 42.08 10.53 9.55 9.93 8.62

Scheme NameLatest

NAV (`)

Absolute CAGR

1 Year 3 Year 5 Year SINCE INCEPTION

Balanced

Aditya Birla SL Balanced Advantage Fund(G) 54.09 7.84 11.08 10.10 9.23

HDFC Balanced Advantage Fund(G) 206.99 13.18 15.80 12.42 17.55

ICICI Pru Balanced Advantage Fund(G) 36.29 8.25 10.55 10.77 10.92

Reliance Balanced Advantage Fund(G) 92.92 8.85 12.92 10.68 16.55

Conservative Hybrid

Aditya Birla SL Regular Savings Fund(G) 39.76 4.00 8.41 10.15 9.61

DHFL Pramerica Hybrid Debt Fund(G) 22.98 7.79 7.48 7.43 7.44

HDFC Hybrid Debt Fund(G) 46.59 8.55 8.36 8.42 10.48

ICICI Pru Regular Savings Fund(G) 43.34 8.78 10.06 10.43 10.14

UTI Regular Savings Fund-Reg(G) 42.05 6.22 8.27 9.29 9.73

Liquid Funds Latest NAV (`) 1 Month 3 Months 6 Months 1 Year

Aditya Birla SL Liquid Fund(G) 302.79 0.63 1.87 3.68 7.55

Axis Liquid Fund(G) 2091.09 0.62 1.88 3.69 7.58

HDFC Liquid Fund(G) 3706.36 0.63 1.89 3.64 7.42

Reliance Liquid Fund(G) 4597.49 0.64 1.89 3.71 7.60

UTI Liquid Cash Plan-Reg(G) 3088.45 0.62 1.88 3.70 7.58

Arbitrage Latest NAV (`) 1 Month 3 Months 6 Months 1 Year

Edelweiss Arbitrage Fund-Reg(G) 13.90 0.73 1.91 3.28 6.35

ICICI Pru Equity-Arbitrage Fund(G) 24.74 0.76 1.92 3.18 6.37

Indiabulls Arbitrage Fund-Reg(G) 13.33 0.74 1.86 3.03 5.81

Kotak Equity Arbitrage Scheme(G) 26.75 0.69 1.93 3.24 6.43

Reliance Arbitrage Fund(G) 19.21 0.77 1.97 3.37 6.56

Gold-FOF Latest NAV (`) 6 Months 1 Year 3 Years SINCE INCEPTION

Axis Gold Fund(G) 10.10 4.68 3.47 1.92 0.13

Canara Rob Gold Savings Fund-Reg(G) 9.68 4.88 4.32 2.66 -0.46

ICICI Pru Regular Gold Savings Fund(G) 10.92 4.95 3.16 2.23 1.16

Invesco India Gold Fund(G) 9.98 4.62 4.38 2.61 -0.03

Kotak Gold Fund(G) 13.43 4.78 3.64 2.17 3.67

Performance as on 04th Jun’19

Hybrid Funds Performance

11Source : ACE MF


Global Markets at a Glance

12

Exhibit: Nifty

Exhibit: S&P 500

Exhibit: Euro Stoxx 50

Exhibit: Nikkei

Exhibit: Shanghai

Exhibit: INR

Exhibit: Dollar Index

Exhibit: Eur

Exhibit: JPY

Exhibit: CNY

Exhibit: India 10 Yr Yld %

Exhibit: US 10 Yr Yld %

Exhibit: Germany 10 Yr Yld %

Exhibit: Japan 10 Yr Yld %

Exhibit: China 10 Yr Yld %

Source: Bloomberg, Karvy Research

11850119001195012000120501210012150

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

68.50

69.00

69.50

70.00

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

6.906.957.007.057.107.157.20

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

2,7002,7202,7402,7602,7802,8002,820

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n 97.097.297.497.697.898.098.298.4

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

1.80

2.00

2.20

2.40

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

3,2803,2903,3003,3103,3203,3303,340

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

1.105

1.110

1.115

1.120

1.125

1.130

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

-0.210

-0.200

-0.190

-0.180

-0.170

-0.160

-0.150

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

20,200

20,400

20,600

20,800

21,000

21,200

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

107.0107.5108.0108.5109.0109.5110.0

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

-0.11

-0.10

-0.10

-0.09

-0.09

-0.08

-0.08

-0.07

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

2,850

2,870

2,890

2,910

2,930

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n 6.90

6.91

6.91

6.92

6.92

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n

3.203.223.243.263.283.303.32

29-M

ay

30-M

ay

3-Ju

n

4-Ju

n


Indices Watch

Index NameAs on

30-Apr-19As on

31-May-19%

Change

S&P BSE 100 11,868.07 12,044.07 1.48%

S&P BSE 200 4,915.46 4,986.55 1.45%

S&P BSE 500 15,293.75 15,517.90 1.47%

S&P BSE AUTO Index 18,839.40 18,445.99 -2.09%

S&P BSE BANKEX 33,328.45 35,264.03 5.81%

S&P BSE Capital Goods 18,030.56 19,939.33 10.59%

S&P BSE Con Durables 23,873.81 24,700.46 3.46%

S&P BSE DOLLEX 30 4,593.58 4,670.47 1.67%

S&P BSE FMCG 11,764.37 11,518.09 -2.09%

S&P BSE GREENEX 2,832.27 2,836.57 0.15%

S&P BSE Health Care 14,367.02 13,305.06 -7.39%

S&P BSE IT 16,263.51 15,781.62 -2.96%

S&P BSE METAL Index 11,513.24 10,756.40 -6.57%

S&P BSE Mid-Cap 14,889.42 15,096.18 1.39%

S&P BSE O & G Index 15,357.85 15,734.43 2.45%

S&P BSE Power Index 1,969.54 2,010.12 2.06%

S&P BSE PSU 7,446.22 7,825.82 5.10%

S&P BSE Realty Index 2,008.64 2,200.74 9.56%

S&P BSE SENSEX 39,031.55 39,714.20 1.75%

S&P BSE Small-Cap 14,624.56 14,867.04 1.66%

S&P BSE TECk Index 7,979.32 7,767.07 -2.66%

Indian Indices:

Index NameAs on

30-Apr-19As on

31-May-19%

Change

NIFTY PHARMA 9,402.50 8,455.10 -10.08%

INDIA VIX 21.83 16.07 -26.39%

NIFTY IT 16,705.40 16,160.65 -3.26%

NIFTY SERV SECTOR 16,296.05 16,913.70 3.79%

Nifty Financial Services 12,555.45 13,479.80 7.36%

NIFTY BANK 29,764.80 31,375.40 5.41%

NIFTY 50 11,748.15 11,922.80 1.49%

NIFTY FMCG 30,336.90 29,850.40 -1.60%

NIFTY 100 11,874.25 12,028.25 1.30%

NIFTY CONSUMPTION 4,813.75 4,809.45 -0.09%

NIFTY 200 6,092.55 6,177.85 1.40%

NIFTY MNC 13,043.55 13,153.95 0.85%

NIFTY 500 9,664.30 9,805.05 1.46%

NIFTY ENERGY 16,500.00 16,560.35 0.37%

Nifty 500 Shariah 3,008.19 3,003.96 -0.14%

NIFTY DIV OPPS 50 2,708.50 2,701.75 -0.25%

NIFTY AUTO 8,350.60 8,175.50 -2.10%

Nifty Midcap 50 4,862.45 4,962.80 2.06%

NIFTY PSU BANK 3,056.35 3,247.60 6.26%

NIFTY MEDIA 2,408.75 2,204.05 -8.50%

NIFTY COMMODITIES 3,688.20 3,685.20 -0.08%

NIFTY METAL 3,089.10 2,900.40 -6.11%

NIFTY INFRA 3,107.50 3,338.85 7.44%

NIFTY PSE 3,557.10 3,654.65 2.74%

NIFTY REALTY 258.30 283.95 9.93%

Global Indices:

Index NameAs on

30-Apr-19As on

31-May-19%

Change

All Ordinaries 6,449.60 6,491.80 0.65%

BEL-20 3,737.82 3,427.18 -8.31%

Bovespa 96,188.00 97,030.32 0.88%

CAC 40 5,580.98 5,207.63 -6.69%

DAX 12,328.02 11,726.84 -4.88%

Dow Jones 26,554.39 24,815.04 -6.55%

FTSE 100 7,440.66 7,161.71 -3.75%

Nasdaq 8,161.85 7,453.15 -8.68%

Nikkei 225 22,258.73 20,601.19 -7.45%

NYSE 13,008.06 12,264.49 -5.72%

S&P 500 2,943.03 2,752.06 -6.49%

Taiwan Weighted 10,939.06 10,498.49 -4.03%

DisclaimerThe information and views presented in this report are prepared by Karvy Stock Broking Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Stock Broking nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document.

This report is intended for a restricted audience and we are not soliciting any action based on it.

For more information on MUTUAL FUNDS call1800 425 8282 or contact your nearest Karvy branch.

Contact PersonPF/MFNL/10062019/65

KARVY DistributionE-mail : [email protected]

Phone : 040 3321 7132

Production: Naga Babu K

13

Source : ACE MF

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