presentation flow - taurus mutual fund flow contents slide market wrap slide 4-5 ... load structure...

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Presentation Flow

Contents Slide

Market Wrap Slide 4-5

Equity Fund Snapshot Slide 6

Taurus Starshare Slide 7-13

Taurus Ethical Fund Slide 14-20

Taurus Taxshield Slide 21-26

Taurus Discovery Slide 27-32

Outlook Slide 33

Performance of the schemes managed by Fund Manager Slide 34

Load Structure Slide 35

Tax Structure Slide 36

About Taurus Mutual Fund Slide 37-41

Risk Factors and Disclaimer Slide 42-46

3

Market Wrap & Our Focus Equity

Schemes Sept’2015

4

Market Wrap- September’2015

The month started on a weak note with concerns on global impact of China’s economic

slowdown. But recovery followed PM’s US visit, reform measures, FED delay in hiking rates

and Of course RBI’s rate cut. Sensex and Nifty ended marginally lower at 26155 (-0.49%) and

7949 (-0.28%) respectively.

FPIs Equity flow (Stock Exchange + Primary Market & others) turned negative during the

month with net sell of Rs 6475.15 Cr, in US$ term figure is $ 978.44 mn.

Indian Mutual funds (Equity) remained net buyers of Rs 16634.00 Cr during the month.

CPI Inflation for Aug remained nearly constant at 3.7% YoY as compared to last month's 3.8%.

July IP at 4.2% was higher than consensus expectation of 3.6%. The surprise was led by strong

growth in the Capital goods category. In contrast, consumer goods production disappointed for a

second month.

INR appreciated 1.3% vs. US$ over the month. Post the FOMC meeting, INR has appreciated

sharply.

5

Market Wrap – Sept’2015 (contd....)

Key events in Domestic Markets:

In a surprise move, the RBI cut the repo rate by 50 basis points to 6.75% from 7.25% vs. market expectation of 25

bps. The tone of the policy was also dovish indicating it will continue to be accommodative.

RBI has also stated that they will come out separately with lower risk weights to promote affordable housing

scheme. RBI also published a draft paper on easier access to ECBs.

PM Modi’s US visit was viewed as a successful trip and reassured of the confidence in the leadership. Companies

like Google, Microsoft, Qualcomm etc pledged their support for Digital India Initiative.

Bihar state elections scheduled to start on October 12. The five phase election ends on November 05. Results

scheduled for November 08.

Key events in International Markets:

MSCI India (US$) gained a marginal 0.4% over the month, but outperformed the MSCI EM (-3%) and MSCI Asia

Pac Ex Japan (-3%) indices. Year to date, India is third-performing EM behind Hungary and Russia.

At its 17 September meeting, the FOMC decided not to raise rates, on concerns the slowdown in China could

dampen US growth and inflation, increasing uncertainty in the markets. Fed Chair Yellen, however, clarified her

remarks a week later, saying she felt it likely the Fed would raise rates this year.

Brazil tumbled 12.1% with the real weakening about 9% versus the dollar, weighed down by a weak economy,

pessimism on President Rousseff’s ability to revive growth and manage the fiscal situation. S&P downgraded

Brazil’s sovereign rating to junk status.

Economic indicators from Europe have generally been positive, with business and consumer surveys providing

reassurance about the euro area’s growth momentum in the face of the Chinese slowdown.

6

Scheme Name Date of Inception Positioning Average

AUM (Crs)

NAV (Existing

Plan- Growth

Option)

NAV (Direct

Plan-Growth

Option)

Benchmark

Taurus Starshare 29th Jan '94 Multicap 188.76 88.73 89.93 S&P BSE 200

Taurus

Infrastructure Fund05th Mar '07 Thematic 4.96 16.62 15.85 S&P BSE 200

Taurus Taxshield 31st Mar '96 Multicap (ElSS) 70.96 52.10 52.80 S&P BSE 200

Taurus Ethical Fund 06th April '09Thematic

Multicap27.55 40.33 41.06

S&P BSE 500

Shariah

Taurus Bonanza

Fund28th Feb '95 Large Cap 22.39 60.91 61.77 S&P BSE 100

Taurus Discovery

Fund05th Sept '94 Midcap 33.19 29.87 30.24 CNX Midcap

Taurus Banking &

Financial Services22nd May '12 Sectoral 6.42 16.16 16.53

S&P BSE

Bankex

Snapshot of Taurus Equity Schemes – Sept’2015

7

Taurus Starshare

8

Product Labeling

Taurus StarshareAn open end equity growth scheme

This Product is suitable for Investors who are seeking*

• Long term capital appreciation

• Investment in equity & equity related instruments – multi-cap in nature.

Riskometer

Investors understand that their principal

will be at moderately high risk

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

LOW HIGH

Low

Moderately

Low

Moderate Moderately

High

High

9

Taurus Starshare

Investment Strategy :

An actively managed diversified equity fund

Predominantly investing in a mix of large, mid-sized and small cap companies

Will aim to diversify the portfolio by investing in a mix of companies across sectorsand themes to maximize returns balance risk

Investment in companies with superior growth potential with realistically soundbusiness model

Key Features:

A diversified open-end equity scheme

Wealth creation through investment across the segments

Suitable for individuals having long term outlook

10

Taurus Starshare –

Portfolio Data as on Sept’15

Top 10 Equity Holding of Taurus StarShare Sectoral Allocation of Taurus Starshare

Top Ten Holding % Net Assets Sectors Name % Net Assets

HDFC Bank Ltd. 6.10% Banks 20.49%

Housing Development Finance

Corporation Ltd. 4.32% Software 13.88%

Infosys Ltd. 4.08% Industrial Capital Goods 7.82%

ICICI Bank Ltd. 4.04% Finance 7.31%

Aditya Birla Nuvo Ltd. 3.65% Petroleum Products 6.88%

Blue Dart Express Ltd. 3.31% Pharmaceuticals 6.13%

Larsen & Toubro Ltd. 3.02% Consumer Non Durables 5.92%

State Bank of India 2.95% Construction Project 4.98%

Info Edge (India) Ltd. 2.90% Auto 4.49%

Axis Bank Ltd. 2.90% Transportation 4.39%

Total Top Ten Equity Holdings 37.27% Total Top 10 Sectors Holding 82.29%

Other Equity 62.16% Other Equity Sectors 17.14%

Total Equity Holdings 99.43% Total Equity Sectors 99.43%

11

Taurus Starshare

*Read EPS as BV and P/E as P/BV

Company CMP PE-FY17EPS growth

FY15 - FY17E Reason to buy

HDFC BANK LIMITED 1069 3.19 15.3%High focus on digi tisation, cons is tent PAT growth and susta inable high margin wi l l

help the bank to command higher va luation

HOUSING DEVELOPMENT FINANCE 1213 3.72 6.7%Steady loan book growth with healthy asset qual i ty and s trong return ratios in the

home loan market augur wel l for the largest NBFC.

INFOSYS LTD 1160 4.03 10.5%Indicators in US pointing towards recovery, with exposure to Europe one of the

lowest among large caps augur wel l for the company .

ICICI BANK LTD 270 8.97 19.3%

Reviva l of growth focus , healthy capita l adequacy and susta ined healthy CASA ratio

wi l l result in absolute growth in PAT. Healthy performance of key subs idiaries i s a

key support.

ADITYA BIRLA NUVO LTD 2139 12.87 23.6%

ABNL is a beneficiary of multiple potentia l government ini tiatives and reforms that

could be undertaken, including: (1) the opening up of FDI in insurance; (2) ferti l i ser

sector deregulation; and (3) the make-in- India ini tiative.

BLUE DART EXPRESS LTD 7488 70.24 39.8%

With pan-India network, integrated va lue chain and s trong brand name Blue Dart

Express has now 50% market share in the express del ivery (courier) segment in

India . It i s best placed to capture secular growth in the industry due to emergence of

e-commerce, need for specia l i ty services , and l ikely rol lout of GST.

LARSEN & TOUBRO LTD 1467 2.70 11.2%

A strong balance sheet, sound execution engine, range of capabi l i ties and

integrated set of operations (ta i lored to sui t the India infrastructure growth s tory),

lead us to repose fa i th in the default India infrastructure s tory—L&T

STATE BANK OF INDIA 237 7.53 17.7%

Strong growth in CASA portfol io and healthy NIM wi l l lead to susta ined ROE number.

Also cons idering i ts dominant pos i tion and reach, superior earnings qual i ty and

Govt backing, the bank wi l l be one of the fi rs t beneficiaries of reviva l in economic

cycle.

INFO EDGE INDIA LTD 803 6.32 3.9%

Info Edge is the best-placed, l i s ted Internet company to benefi t from India ’s growing

Internet usage. Its key bus iness , Naukri (52% of SOTP), i s experiencing a cycl ica l

recovery and growth is l ikely to be robust in the medium term.

AXIS BANK LTD 496 11.38 17.5%Cons is tently del ivered rapid, ba lanced, and profi table growth. Asset qual i ty has

been healthy despite apprehens ions .Valuations are low as compared to peers .

* BPS and P/B for financia l services companies

Top 10 holding at the end of September 2015

12

Why Taurus Starshare ?

Well diversified across sectors & market caps.

Long Track Record.

Multi cap nature allows Fund Manager to take calls on potential small & mid caps to generate alpha.

Nimbleness to swiftly move across market caps.

13

Fund Manager’s Comments

We believe investment themes have expanded in India since the new government

has come into the power and focussed on development and governance through its

various reform agenda i.e. Defence, Railways, Make in India, Swach Bharat , Digital

India, Tourism, Namami Gange and other specific initiatives.

We are also enthused by the Governments effort to bring efficiency, transparency,

governance in the business. Most of these initiatives have direct impact on the

economy and companies in medium and growing sectors.

We have positioned our portfolio across these themes and companies that will have

sustainable growth in coming years.

We see upside to these ideas to have much larger than some of the large well run

efficient companies and domestic centric companies.

14

Taurus Ethical Fund

15

Product Labeling

Taurus Ethical FundAn open end equity oriented scheme.



• Investment in equity & equity related instrument based on the

principles of Shariah

Riskometer

Investors understand that their principle

will be at high risk


LOW HIGH

Low

Moderately

Low

Moderate Moderately

High

High

16

Taurus Ethical Fund

Investment StrategyThis fund is a diversified equity fund catering to the investors who are looking forShariah compliant investment opportunities

Long term wealth creation through investment in Shariah compliant equityinstruments

Being a diversified fund, can invest across the shariah compliant sectors and stocksso as to benefit from the opportunities prevailing in the sectors

Selection of stocks based on better management quality, good corporate governanceand strong balance sheet with no exposure to debt.

Key FeatureA socially responsible investing fund

17

Taurus Ethical Fund-


Top 10 Equity Holding of Taurus Ethical Fund Sectoral Allocation of Taurus Ethical Fund


Infosys Ltd. 6.25% Software 21.81%

Blue Dart Express Ltd. 4.54% Pharmaceuticals 18.04%

Maruti Suzuki India Ltd. 4.07% Consumer Non Durables 8.12%

Britannia Industries Ltd. 3.62% Transportation 6.70%

Shree Cements Ltd. 3.41% Cement 6.66%

Cummins India Ltd. 3.33% Auto 6.56%

Oracle Financial Services Software Ltd. 3.29% Industrial Products 6.14%

Ultratech Cement Ltd. 3.25% Auto Ancillaries 2.75%

Sanofi India Ltd. 3.05% Industrial Capital Goods 2.56%

Godrej Consumer Products Ltd. 2.63% Chemicals 2.53%




18

Taurus Ethical Fund


FY15 - FY17EReason to buy

INFOSYS LTD 1160 17.38 11.2%Indicators in US pointing towards recovery, with exposure to Europe one of the lowest among

large caps augur wel l for the company .


With pan-India network, integrated va lue chain and s trong brand name Blue Dart Express has

now 50% market share in the express del ivery (courier) segment in India . It i s best placed to

capture secular growth in the industry due to emergence of e-commerce, need for specia l i ty

services , and l ikely rol lout of GST.

MARUTI SUZUKI INDIA LTD 4689 21.48 31.6%

With the internal problems perta ining to the labour i ssues getting resolved, may be the biggest

trigger for the s tock. Maruti i s s trengthening i ts diesel portfol io. Margins are expected to improve

with better rea l isations and increase in the diesel car portfol io.

BRITANNIA INDUSTRIES LTD 3083 36.68 21.0%

Current va luations are not cheap but s ti l l at discount to peers and attractive given the s trong

franchise, improving margins and earnings ups ides . With a double-digi t volume growth a ided by

market share ga ins , expans ion and earnings CAGR of 26%, we bel ieve the premium valuations

are justi fied.

SHREE CEMENT LTD 11777 27.25 87.9%

A subdued margin performance is overshadowed by i ts premium performance over competition

as weak demand in NW markets hi t revenues and fuel costs hi t the margins . Planned capex and

s trong balance sheet with a good captive power uti l i zation should a id future the future growth.

CUMMINS INDIA LTD 1096 24.68 25.1%

A pick-up in end markets such as mining, industria ls ,and ra i lways should drive growth (exposrts

as wel l as domestic) despite some pricing pressure. With the s tock cons is tently generating very

healthy RoEs (~28%) and an international technology leader as i ts parent, we expect the

premium to the sector to remain.

ORACLE FINANCIAL SERVICES 3947 21.02 15.3%

Improvement in macro demand environment, s trong and broad-based deal pipel ine, increase in

average deal s izes , cl ients choos ing multiple deployment choices (bias towards cloud being

favorable to OFSS) and s teady margin profi le (product share: 84%) s ignal earnings profi le wi l l

improve in coming quarters .

ULTRATECH CEMENT LTD 2680 17.86 40.1%

With largest capacity in the country today we bel ieve, the next re-rating trigger for the s tock i s

due with the consol idation of i ts ongoing organic and inorganic capex. Multiples wi l l be driven

by cons is tent increase in volumes, increas ing bargaining power and sca le efficiencies .

SANOFI INDIA LTD 4111 23.51 66.6%

A strong marketing presence in India , s trategy to aggress ively invest in growth, and s trong

presence in fast growing segments (diabetes and CVS) make Sanofi one of the more promis ing

MNC pharma companies in India . Strong growth of exports over CY12-14 seems susta inable given

the s trategy of shi fting production from overseas assets to the India unit.

GODREJ CONSUMER PRODUCTS LTD 1216 29.81 23.7%

1) soaps (33% of domestic sa les ), despite being a mass category, continues to do wel l on product

variants ; 2) urban recovery i s a key growth lever; focus continues on increas ing rura l penetration;

3) international markets are l ikely to recover; and 4) management a ims to drive returns through

consol idating recent acquis i tions and higher capacity uti l i zation


19

Why Taurus Ethical Fund ?

India's first & only actively managed equity fund based on the principles of Shariah. Stock selection from S&P BSE 500 Shariah universe. Currently there are around 192 stocks in S&P BSE 500 Index that are Shariah Compliant.

Portfolio is adequately diversified across compliant sectors. Active management within these sectors has delivered superior performance.

Ideal for investors looking at socially compliant / responsible way of investing (does not invest in sectors like liquor, tobacco, hotels, banks etc.).

20


Portfolio composition has decisively moved towards Infrastructure, Capital

Goods, Engineering and Construction and related sectors.

This is despite heavy composition of defensives in benchmark Index.

This has caused increase of portfolio beta.

Portfolio is rather underweight in FMCG, Pharma and IT sector. Re-

alignment in the portfolio has been due to broad based recovery in the

economy and consequent benefit to beaten down Industrial companies.

21

Taurus Tax Shield

22

Product Labeling

Taurus Tax Shield

An Open end equity linked tax saving scheme.



• Investment in equity & equity related instruments

Riskometer



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

LOW HIGH

23

Taurus Tax Shield

Investment Strategy :

This fund is diversified equity fund offering tax savings with long term appreciation.

Targeting wealth creation by long term equity investment.

Investment across the sectors and capitalisation.

Selection of stocks based on long term business prospect and value creation.

Key Features:

A 80C approved Tax saving Scheme.

An actively managed ELSS scheme.

In terms of Finance Bill 2014, Section 80 C deduction limit for investment has been increased from Rs 1 Lakh to Rs.1.5 Lakhs.

24

Taurus Tax Shield –


ICICI Bank Ltd

Top 10 Equity Holding of Taurus Taxshield Sectoral Allocation of Taurus Taxshield

Top Ten Holding % Net Assets Sectors Name

% Net

Assets

HDFC Bank Ltd. 6.01% Banks 22.17%

Housing Development Finance

Corporation Ltd. 4.98% Software 10.84%

Infosys Ltd. 4.47% Pharmaceuticals 10.18%

ICICI Bank Ltd. 3.89% Consumer Non Durables 9.33%

State Bank of India 3.56% Finance 6.93%

Piramal Enterprises Ltd. 3.46% Petroleum Products 6.31%

Maruti Suzuki India Ltd. 3.4% Industrial Capital Goods 5.35%

Axis Bank Ltd. 3.33% Auto 4.82%

Britannia Industries Ltd. 3.07% Media & Entertainment 4.40%

Larsen & Toubro Ltd. 2.87% Construction Project 3.89%




25

Taurus Tax Shield

*Read EPS as BV and P/E as P/BV

Company CMP PE-FY17

EPS growth

FY15 -

FY17E

Reason to buy

HDFC BANK LIMITED 1069 3.19 15.3%High focus on digi tisation, cons is tent PAT growth and susta inable high margin wi l l help the

bank to command higher va luation

HOUSING DEVELOPMENT FINANCE 1213 3.72 6.7%Steady loan book growth with healthy asset qual i ty and s trong return ratios in the home loan

market augur wel l for the largest NBFC.

INFOSYS LTD 1160 17.38 11.2%Indicators in US pointing towards recovery, with exposure to Europe one of the lowest among

large caps augur wel l for the company .

ICICI BANK LTD 270 1.60 7.4%Reviva l of growth focus , healthy capita l adequacy and susta ined healthy CASA ratio wi l l result

in absolute growth in PAT. Healthy performance of key subs idiaries i s a key support.

STATE BANK OF INDIA 237 0.92 6.9%Steady loan book growth with healthy asset qual i ty and s trong return ratios in the home loan

market augur wel l for the largest NBFC.

PIRAMAL ENTERPRISES LTD 872 111.94 39.6%

Piramal 's bus iness mix has become clearer over the last couple of years , as the company

deployed i t's formulations biz sa les proceeds in a combination of s trategic areas &

interesting investments . Most bus inesses have shown encouraging s igns .

MARUTI SUZUKI INDIA LTD 4689 21.48 31.6%

With the internal problems perta ining to the labour i ssues getting resolved, may be the

biggest trigger for the s tock. Maruti i s s trengthening i ts diesel portfol io. Margins are expected

to improve with better rea l isations and increase in the diesel car portfol io.

AXIS BANK LTD 496 1.94 15.9%Cons is tently del ivered rapid, ba lanced, and profi table growth. Asset qual i ty has been healthy

despite apprehens ions .Valuations are low as compared to peers .



franchise, improving margins and earnings ups ides . With a double-digi t volume growth a ided

by market share ga ins , expans ion and earnings CAGR of 26%, we bel ieve the premium

valuations are justi fied.

LARSEN & TOUBRO LTD 1467 19.51 21.0%

A strong balance sheet, sound execution engine, range of capabi l i ties and integrated set of

operations (ta i lored to sui t the India infrastructure growth s tory), lead us to repose fa i th in

the default India infrastructure s tory—L&T



26


Capital goods and engineering sector expect to outperform on the back of revival in

industrial activities. Administrative reforms in the coal and mining sector will have

significant impact on the power and industrial sector. Scheme has allocated the

assets accordingly.

BFSI is expected to play an important role in funding the growth of corporate India.

Lower interest rate regime should be significantly positive for NBFC companies in

India.

Softening crude oil prices will provide tailwinds for oil marketing companies in

India.

Scheme has allocated its resource across large and mid-cap companies .

27

Taurus Discovery

28

Product Labelling

Taurus Discovery Fund An open end equity growth scheme.



• Investment in equity & equity related instruments – mid cap in nature.

Riskometer




LOW HIGH

Low

Moderately

Low

Moderate Moderately

High

High

29

Investment StrategyAn actively managed diversified equity scheme

Predominantly investing in companies from mid cap space.

Investment in companies that have sustainable growth model.

Diversification across sectors & themes

Key Feature

A diversified open-end equity scheme

Wealth creation through investment in undervalued stocks.

Suitable for individuals having long term outlook

Taurus Discovery Fund

30

Taurus Discovery Fund –


Top 10 Equity Holding of Taurus Discovery Fund Sectoral Allocation of Taurus Discovery Fund


Piramal Enterprises Ltd. 4.62% Pharmaceuticals 11.33%

Aditya Birla Nuvo Ltd. 4.39% Consumer Non Durables 10.63%

Britannia Industries Ltd. 3.43% Software 8.83%

Oracle Financial Services Software Ltd. 3.27% Finance 8.82%

Blue Dart Express Ltd. 3.23% Media & Entertainment 7.62%

Max India Ltd. 3.19% Industrial Capital Goods 6.82%

Godrej Industries Ltd. 3.00% Transportation 6.40%

UPL Ltd. 2.91% Banks 5.14%

Tata Elxsi Ltd. 2.85% Petroleum Products 4.63%

Dish TV India Ltd. 2.70% Services 4.39%




31



FY15 - FY17EReason to buy

PIRAMAL ENTERPRISES LTD 872 111.94 39.6%

Piramal 's bus iness mix has become clearer over the last couple of years , as the company deployed

i t's formulations biz sa les proceeds in a combination of s trategic areas & interesting investments .

Most bus inesses have shown encouraging s igns .

ADITYA BIRLA NUVO LTD 2139 12.87 23.6%

ABNL is a beneficiary of multiple potentia l government ini tiatives and reforms that could be

undertaken, including: (1) the opening up of FDI in insurance; (2) ferti l i ser sector deregulation;

and (3) the make-in- India ini tiative.



franchise, improving margins and earnings ups ides . With a double-digi t volume growth a ided by

market share ga ins , expans ion and earnings CAGR of 26%, we bel ieve the premium valuations are

justi fied.

ORACLE FINANCIAL SERVICES 3947 21.02 15.3%

Improvement in macro demand environment, s trong and broad-based deal pipel ine, increase in

average deal s izes , cl ients choos ing multiple deployment choices (bias towards cloud being

favorable to OFSS) and s teady margin profi le (product share: 84%) s ignal earnings profi le wi l l

improve in coming quarters .


With pan-India network, integrated va lue chain and s trong brand name Blue Dart Express has now

50% market share in the express del ivery (courier) segment in India . It i s best placed to capture

secular growth in the industry due to emergence of e-commerce, need for specia l i ty services , and

l ikely rol lout of GST.

MAX INDIA LTD 511 37.00 14.7%

Strategy to focus on traditional products , targeting the affluent segment, a ids in maintaining a

high pers is tency ratio as wel l as healthy margins . healthcare bus iness a lso holds promise. High

premium paid by new Li fe Insurance partner gives comfort as wel l as substantia l capita l .

GODREJ INDUSTRIES LTD 347 23.95 9.9%GIL should compound earnings at 25% over FY15-17 driven by better profi tabi l i ty in properties

bus iness driven by higher execution and cost savings at i ts new chemical plant.

UPL LTD 458 11.62 21.5%

We ci te relentless execution in driving profi table growth and focus on improving RoCE. UPL’s

earnings are not completely contingent on government pol icy actions , and we expect susta inable

RoE of 20%. Despite an adverse macro backdrop, guidance remains s trong.

TATA ELXSI LTD 1881 29.49 39.6%

We are enthused about the s trong capabi l i ties Tata Elxs i has bui l t over the last 25 years in the

areas of technology, engineering and des ign. What’s most exci ting are the opportunities avai lable

to Co, not just in key vertica ls l ike Automotive and Broadcast, but a lso due in the changing global

landscape with the advent of Internet of Things (IoT).

DISH TV INDIA LTD 106 49.21 NaDISH TV wi l l be the beneficiary of ongoing digi tization drive in India . The bus iness growth and

margin expans ion wi l l drive re-rating for the company in coming quarters .



32


We believe investment themes have expanded in India since the new government

has come into the power and focussed on development and governance through its

various reform agenda i.e. Defence, Railways, Make in India, Swachh Bharat ,

Digital India, Tourism, Namami Gange and other specific initiatives.

We are also enthused by the Governments effort to bring efficiency, transparency,

governance in the business. .

Most of these initiatives have direct impact on the economy and companies in

medium and growing sectors. We have positioned our portfolio across these

themes and companies that will have sustainable growth in coming years.

We see upside to these ideas to have much larger than some of the large well run

efficient companies and domestic centric companies.

33

Outlook

Turnaround in equity sentiments is visible post surprise and unexpected rate cut of 50bps

by RBI. RBI Governor with his one large rate cut sent many messages across the stake

holders, about institution firmly in control of currency and inflation in short to medium

term and also that the government to do rest of the heavy lifting. Global market continued

with elevated volatility due to ripple effect of Chinese slowdown and sustained commodity

fall .Lower inflation and interest rate regime expected to support market level from any

sharp correction unless global volatility escalates further from current level.

Market is looking forward to heavy lifting from the government with accelerated action

already visible in SEB reforms and significant banking sector reforms through

differentiated banking and other measures to manage the stress levels in the banking sector.

Looking ahead, 2Q quarter results and guidance by the companies will provide near

visibility for the market .

34

Performance of all Schemes managed by the

Fund manager (as on 30th Sept’15 Regular Plan-Growth)

Name of the

Fund Manager

Name of the Scheme

,Benchmark &

Additional Benchmark

Date of

Inception

30/09/2015-

30/09/2014

30/09/2014-

30/09/2013

30/09/2013-

30/09/2012

Since Inception

Returns

ReturnsValue of Rs

10,000

Mr.Sadanand

Shetty

Taurus Starshare

29th Jan'94

5.48% 48.73% -3.84% 10.59% 88,730

S&P BSE 200 3.08% 42.50% 6.73% 9.17% 67,052

CNX Nifty -0.20% 38.87% 8.65% 8.82% 62,521

Taurus Ethical Fund

6th Apr'09

8.76% 55.80% 3.30% 23.97% 40,330

S&P BSE 500 Shariah 8.81% 45.37% 17.17% 18.68% 30,390

CNX Nifty -0.20% 38.87% 8.65% 14.74% 24,409

Taurus Bonanza Fund

28th Feb'95

9.37% 45.37% -8.24% 11.15% 88,290

S&P BSE 100 0.77% 40.05% 8.41% 10.88% 83,946

CNX Nifty -0.20% 38.87% 8.65% 10.51% 78,336

Taurus Taxshield

31st Mar'96

5.00% 47.11% -7.00% 11.18% 79,120

S&P BSE 200 3.08% 42.50% 6.73% 12.35% 97,047

CNX Nifty -0.20% 38.87% 8.65% 11.29% 80,675


25th Sept'94

14.80% 77.98% -5.74% 5.33% 29,870

CNX Midcap 13.72% 63.17% -4.81% 8.77% 58,898

CNX Nifty -0.20% 38.87% 8.65% 8.76% 58,727

Taurus Infrastructure

Fund5th Mar'07

2.47% 75.73% -24.65% 6.10% 16,620

S&P BSE 200 3.08% 42.50% 6.73% 10.07% 22,777

CNX Nifty -0.20% 38.87% 8.65% 9.75% 22,225

Taurus Nifty Index

Fund 19th Jun'10 -0.13% 38.34% 0.21% 7.75% 14,839

CNX Nifty -0.20% 38.87% 8.65% 7.76% 14,849

35

Equity Funds Load Structure

Load Structure

Equity Funds Entry Load Exit Load

Taurus Starshare

NIL1% if exited on or before 180 days, NIL if exited after 180 days

Taurus Infrastructure Fund

Taurus Ethical Fund


Taurus Bonanza Fund

Taurus Banking & Financial Services Fund

SIP in all Equity Fund (except Taurus Nifty Index Fund)

Taurus Nifty Index FundNIL 0.50% if exited on or before 30 days, NIL if exited

after 30 daysSIP in Taurus Nifty Index Fund

ELSS Entry Load Exit Load

Taurus TaxshieldNIL

N.A

SIP in Taurus Taxshield Fund N.A

Note:- The above change in exit load structure will be applicable w.e.f 15/06/2015

36

Capital Gains Tax Structure For F.Y. 2015-16

Equity Oriented Schemes

Long Term Capital Gains (Units held for more than 12 months)

Short Term Capital Gains (Units held for 12 months or less)

Individual/HUF* Domestic Company* NRI#/@

Long Term Capital Gains Nil Nil Nil

Short Term Capital Gains 15% 15% 15%

Other than Equity Oriented Schemes

Long Term Capital Gains (Units held for more than 36 months)

Short Term Capital Gains (Units held for 36 months or less)

Individual/HUF* Domestic Company* NRI#/@

Long Term Capital Gains 20%@@ 20%@@ Listed-20%@@/Unlisted -10%$

Short Term Capital Gains As per Slab rates 30% As per Slab rates

# Surcharge at the rate of 12% is to be levied in case of individual/HUF unit holders where their income exceeds Rs 1

crore.

* Surcharge at the rate of 7% is to be levied for domestic corporate unit holders where the income exceeds Rs 1

crore but less than Rs 10 crores and at the rate of 12% where income exceed Rs 10 crores.

@ Short term/long term capital gain tax will be deducted at source (TDS) at the time of redemption of units in case of NRI

Investors only.

@@ After providing for indexation.

$ Incase of unlisted security, the TDS rate for NRI investors is 10% without indexation u/s 112 for long term capital gains.

Education Cess @3% will continue to apply on tax plus surcharge.

Diclaimer: The above information is for general information purpose only and does not constitute legal or tax advice. In view if the individual nature of

the tax consequences, each investors is advised to consult his of her own tax consultant with respect to specific tax implication arising out of his/her

investment in the scheme .Income Tax benefits to the unit holder are in accordance with the prevailing tax laws. Any action taken by the investor on the

basis of the information contained herein is the responsibility of the investor .Taurus Mutual Fund will not be liable in any manner for the consequences

of such action taken by the investor

37

About Taurus Mutual Fund About Taurus Mutual Fund

38

Our Schemes

Our Schemes

EQUITY DEBT

• Taurus Starshare

• Taurus Bonanza Fund

• Taurus Discovery Fund

• Taurus Infrastructure Fund

• Taurus Ethical Fund

• Taurus Tax Shield (ELSS)

• Taurus Nifty Index Fund

•Taurus Banking & Financial Services Fund

• Taurus Short Term Income Fund

• Taurus Ultra Short Term Bond Fund

• Taurus Dynamic Income Fund

• Taurus Liquid Fund

• Taurus MIP Advantage

39

Board of Directors of Taurus AMC

Mr. J. P. Kundra - Former MD, State Bank of India

Mr. M.G. Gupta - Former Addl Controller General of Accounts, Govt. of India

Maharaja Jai Singh – From the Royal family of Jaipur / Hotelier

Mr. Lalit Bhasin - Promoter Director

Mr. Vijay Sood – Former Chief Executive –India, Credit Agricole Indosuez

Mr. R K Gupta- MD, Former MD-PNB Mutual Fund

40

Senior Management Personnel

Mr. Waqar Naqvi : Chief Executive (AICWA, MBA, 24 years exp).

Mr. Ramesh Kabra : Vice President –Product Development ,Marketing & Compliance.

(B.Sc., M.A.(Eco), 35 years exp).

Mr. Sadanand Shetty: Sr. Fund Manager-Equity (M.Com, PGDFA, 21 years exp).

Mr. Archit Shah : Fund Manager- Fixed Income (CFA ,PGDBM in Finance, 6.5 year exp).

Mr. Amarjeet Singh : Chief Financial Officer (B.Com ,Chartered Accountant , 13 Years exp).

Mr. Jude Abraham : VP & National Head – Institutional Sales (B.A., PGDBM, 15 years exp).

Mr. Kamal Mehta : Head – Retail Sales (IFAs & NDs) (MBA in Marketing, 15 years exp).

41

Equity Fund Managers

VP & Senior Fund Manager - Equity

Mr. Sadanand Shetty

Masters in Commerce (specialisation in Banking & Finance), Sadanand has done his PGDFA

He has a total work ex of 21 years. His last assignment was with Kotak Securities as VP &

Portfolio Manager -Equity for 5 years & 8 months. He has also worked with Soc Gen in

Institutional equities for 4 years, Newscorp owned Indya.com Pvt. Ltd. for 2 years, Principal

Capital Markets Ltd. as VP-Investments for 2 years and Capital Markets Publishers Pvt. Ltd. as

an analyst for 3 years.

Funds managed by Mr. Sadanand Shetty – Taurus Starshare, Taurus Discovery Fund, Taurus

Tax Shield, Taurus Nifty Index Fund ,Taurus Infrastructure Fund. , Taurus Banking &

Financial Services Fund ,Taurus Bonanza Fund and Taurus Ethical Fund.

42

Statutory Details

Statutory Details: Taurus Mutual Fund has been constituted as a Trust under the Indian Trust Act, 1882.

Sponsor: HB Portfolio Ltd.

Trustee: Taurus Investment Trust Company Limited Investment Manager: Taurus Asset Management Company Limited

Scheme Nature & Objective

Taurus Starshare is an open-end equity growth scheme. 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

Taurus Infrastructure Fund is an open-end equity thematic scheme. Scheme is to provide capital appreciation and income distribution to unit-holders by investing pre-dominantly in equity & 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.

Taurus Tax Shield is an open-end equity linked tax saving scheme. Scheme is to provide long term capital appreciation over the life of the scheme through investment pre-dominantly in equity shares, besides tax benefits

Taurus Ethical Fund is an open-end equity oriented scheme. Scheme is to provide capital appreciation and income distribution to unit-holders through investment in a diversified portfolio of equities, which are based on the principles of Shariah.

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

Taurus Discovery Fund is an open-end equity growth scheme. Scheme is to generate capital appreciation by identification and selection of low priced stocks through price discovery mechanism.

Taurus Nifty Index Fund is an open end Index linked equity scheme. Scheme is to replicate the S&P CNX Nifty Index by investing in securities of the CNX Nifty Index in the same proportion /weightage. 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.

Taurus Banking & Financial Services Fund is an open end sectoral equity scheme. Scheme is to generate capital appreciation through a portfolio that invests predominantly in equity & equity related instruments of Banking ,Financial and Non Banking Financial Companies that form part of the BFSI Sector.

43

S&P BSE 200 Disclaimer

The S&P BSE 100 and S&P BSE 200 are products of AIPL, which is a joint venture

of S&P Dow Jones Indices LLC or its affiliates ('SPDJI') and BSE, and has been

licensed for use by Taurus Asset Management Company Limited. Standard &

Poor's® and S&P® are registered trademarks of Standard & Poor's Financial

Services LLC (“S&P”); BSE® is a registered trademark of BSE Limited (“BSE”);

and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC

(“Dow Jones”). ©Asia Index Private Limited 201(x). All rights reserved.

Redistribution, reproduction and/or photocopying in whole or in part are prohibited

without written permission of AIPL. For more information of any of AIPL's indices

please http://www.asiaindex.com . None of AIPL, BSE, Dow Jones Trademark

Holdings LLC, their affiliates nor their third party licensors make any representation

or warranty, express or implied, as to the ability of any index to accurately represent

the asset class or market sector that it purports to represent and none of AIPL, BSE,

S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC or their

affiliates nor their third party licensors shall have any liability for any errors,

omissions or interruptions of any index or the data included therein”

44

CNX Midcap Index Disclaimer

A.IISL is engaged in the business of developing, constructing, compiling, computing and

maintaining various equity indices. CNX Midcap Index is owned by IISL and authorized

DotEx to distribute the data pertaining to CNX Midcap Index. The Index is determined,

composed and calculated by IISL without regard to the Subscriber and/or Client. Neither IISL

nor DotEx has any obligation to take the needs of the Subscriber/ Clients into consideration in

determining, composing or calculating, distributing CNX Midcap Index.

B. IISL and DotEx do not guarantee the accuracy and/or the completeness of CNX Midcap Index

or any data included therein and they shall have no liability for any errors, omissions, or

interruptions therein. Neither IISL nor DotEx makes any warranty, express or implied, as to

results to be obtained by the Subscriber or any other person or entity from use of CNX

Midcap Index or any data included therein. IISL and DotEx make no express or implied

warranties, and expressly disclaim all warranties of merchantability or fitness for a particular

purpose or use with respect to the Index or any data included therein. Without limiting any of

the foregoing, IISL expressly disclaim any and all liability for any damages or losses arising

out of the use of CNX Midcap Index or any data included therein by any third party, including

any and all direct, special, punitive, indirect, or consequential damages (including lost profits),

even if notified of the possibility of such damages.

45

S&P BSE 500 Shariah Disclaimer

The “S&P BSE Shariah 500 Index" (the “Index”) is published by Asia Index

Private Limited (“AIPL”), which is a joint venture among affiliates of S&P Dow Jones

Indices LLC (“SPDJI”) and BSE Limited (“BSE”), and has been licensed for use by

Taurus Asset Management Company Limited (“Licensee”). Standard & Poor’s® and

S&P® are registered trademarks of Standard & Poor’s Financial Services LLC

(“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings

LLC (“Dow Jones”). BSE® and SENSEX® are registered trademarks of BSE. The

trademarks have been licensed to AIPL and have been sublicensed for use for certain

purposes by Licensee. Licensee’s “[Taurus Ethical Fund]” (the “Product”) is/are not

sponsored, endorsed, sold or promoted by AIPL, SPDJI, Dow Jones, S&P, any of their

respective affiliates (collectively, “S&P Dow Jones Indices”) or BSE. None of AIPL,

S&P Dow Jones Indices or BSE makes any representation or warranty, express or

implied, to the owners of the Product or any member of the public regarding the

advisability of investing in securities generally or in the Product particularly or the

ability of the Index to track general market performance.

46

Risk Factors & Disclaimer

Any information contained in this presentation does not constitute and shall be deemed not to

constitute an advice, an offer to sell / purchase or as an invitation or solicitation to do so for

any security of any entity and further, Taurus AMC / sponsors / employees / directors shall

not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising

from the use or access of any information that may be displayed in this presentation from

time to time. Recipients of the information contained herein should exercise due care and

caution and read the offer document (including if necessary, obtaining the advice of tax /

legal / accounting / financial / other professionals) prior to taking of any decision, acting or

omitting to act, on the basis of the information contained herein. Editorial opinions expressed

in this presentation are not necessarily those of Taurus AMC or any of their officers,

employees, personnel, directors and the above-said do not accept responsibility for the

editorial content and make no representation as to the accuracy, completeness or reliability of

the editorial content and hereby disclaim any liability with regard to the same. The material

contained in this presentation cannot be reproduced or quoted anywhere without express

written consent of Taurus AMC.

Mutual Fund Investments are subject to market risks, read all scheme

related documents carefully.

47

Thank You

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