valueresearchfundcard-hdfcequity-2011may16

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The contents of this Value Research Fund Card (the "Fund Card") published by Value Research India Private Limited are not intended to serve as professional advice

or guidance and the publisher takes no responsibility or liability, express or implied, whatsoever for any investment decisions made or taken by the readers of thisFund Card based on its contents thereof. You are strongly advised to verify the contents before taking any investment or other decision based on the contents of thisFund Card. The Fund Card is meant for general reading purposes only and is not meant to serve as a professional guide for investors. The readers of this Fund Cardshould exercise due caution and/or seek independent professional advice before entering into any commercial or business relationship or making any investment deci-sion or entering into any financial obligation based on any information, statement or opinion which is contained, provided or expressed in this Fund Card.

The Fund Card contains information, statements, opinions, statistics and materials that have been obtained from sources believed to be reliable and the publishersof the Fund Card have made best efforts to avoid any errors and omissions, however the publishers of this Fund Card make no guarantees and warranties whatso-ever, express or implied, regarding the timeliness, completeness, accuracy, adequacy, fullness, functionality and/or reliability of the information, statistics, statements,

opinions and materials contained and/or expressed in this Fund Card or of the results obtained, direct or consequential, from the use of such information, statistics,statements, opinions and materials. The publishers of this Fund Card do not certify and/or endorse any opinions contained, provided, published or expressed in thisFund Card. All disputes shall be subject to the jurisdiction of Delhi courts only.

Risk Grade

Return Grade

NAV

Net Assets

Fundcard

ValueResearchw w w . v a l u e r e s e a r c h o n l i n e . c o m

Below Average

High

Rs. 281.43 as on May 13, 2011

HDFC Equity

Value Research Fund Rating as on Apr 30, 2011

Rs. 8404.8 crore as on Mar 31, 2011

Open-end and Equity: Multi Cap


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Volatility Measurements

Standard Deviation

Sharpe Ratio

Beta

R-Squared

Alpha

Risk Analysis

Equity

DebtCash

Composition (%)

Trailing Returns (%)

Year-to-Date

3-Month

6-Month

1-Year

2-Year

3-Year

5-Year

7-Year

10-Year

Return less than 1-year are absolute and over 1 year are annualised

Return Rank SIP

Fund Category Fund/Cat Return

Quarterly Returns (%)Q1 Q2 Q3 Q4 Year

Fund Performance Vs

Company Sector P/E YTD % Assets

Top Holdings

NAV (Rs)

Total Return (%)

+/-

+/-

Rank (Fund/Category)

52 Week High (Rs)

52 Week Low (Rs)

Net Assets (Rs.Cr)

Expense Ratio (%)

Rating:

Risk:

Return:

History

Total Stocks

Avg Mkt Cap (Rs.Cr)

Portfolio P/B Ratio

Portfolio P/E Ratio3Y Earnings Growth (%)

Fund

Top 10 Sector Weights (%)

Portfolio Characteristics

Returns as on

Growth Blend ValueInvestment StyleFUND STYLE

LargeMediu

mSmall

Capitalis

ation

Fund

(Rebased to 10,000)

1/54

Below AverageHigh

-12.10

51.9523.5032.1744.91

-14.82

-7.99

-5.06

-3.54

-0.90

-11.78

-9.81

7.80

-13.10

13.10

13.31

20.20

11.80

6/57

18.00

15.70

40.10

7.70

36.00

S&P CNXNifty

Nifty

Fund Performance Vs S&P CNX Nifty

S&P CNX Nifty

S&P CNX 500

-1.98

-17.76

-10.95

S&P CNX Nifty

6.65

-20.55

23.23

0.50-6.74

17.80

25.10

22.40

30.10

22.10

26.80

16.50

24.20

29.30

40.70

8.20

25.9065.50

15.50

28.3118.2323.5727.03

17.90

0.99

24.04

20.61

10.38

6.95

5.90

1/45

5.81

5.07

4.26

3.89

18.61

9/57

28.14

14.94

3.32

6.27

8.72

5.81

-

-

33.46

Engineering

Automobile

Metals

Energy

Technology

Energy

Energy

Energy

Metals

-6.854.425.507.79

Financial

Automobile

8.71

6.78

2001

-2.81

18.35

13.37

20.45

1/27

20.69

14.05

52.49

-

4.38

4.26

3.98

3.893.65

3.35

33.427.065.6416.01

2.73

34.0917.1327.9232.06

2011

281.43

-5.72

3.89

3.80

6/57

-

-

-

1.79

-----5.10

2010

298.50

29.22

11.27

15.09

3/59

315.35

216.96

8709.88

1.81

29.220.6217.127.202.28

Engineering

2009

231.01

105.57

29.81

17.00

4/51

231.01

91.23

5395.96

1.86

105.579.0622.5358.81-3.14

Healthcare

2008

112.38

-49.68

2.11

7.45

14/56

227.61

97.09

2680.36

1.80

-49.68-22.881.78-13.64-25.76

-1.91 15.93 10.60 22.14 53.61

1.83

5491.36

134.74

223.32

27/44

-8.90

-1.16

223.32

Services

2007

53.61

1.93

3937.74

97.94

147.94

23/39

1.87

-3.97

145.39

35.86

2006

FMCG

State Bank of India

2.02

2185.24

59.92

107.01

2/30

26.45

26.36

107.01

62.70

2005

Engineering

ICICI Bank

2.12

1148.64

42.90

65.77

9/25

9.67

16.85

65.77

27.53

2004

Healthcare

Tata Consultancy Services

2.35

977.98

22.18

52.09

9/32

28.16

54.40

51.57

126.30

2003

Titan Industries

2.50

287.32

18.20

23.55

4/30

13.88

20.95

22.79

24.20

2002

Bank of Baroda

Infosys TechnologiesCoal India

Reliance Industries

Bharti Airtel

3.52 3.40

-5.72 -8.83 -9.61 -

-6.89

-7.62

13/57

96.60

-3.19

2/32

11.81

0.33

-17.2823.31

-10.77

64

3.31

Returns as on May 13, 2011, Portfolio related data as on April 30, 2011

12.47

6.05

-8.06 -11.30 -8.68 17.28

3/48

0.93

17.45 7.07 3.80 40.42

Financial

Financial

Financial

Energy

Technology

Technology

Cons Durable

Healthcare

Financial

Automobile

Technology

Metals

Energy

FMCG

Energy

Cons Durable

2.59

Communication

Services

2.49

2.37

HDFC Equity

2.11

2.11

2.03

2.01

1.98

1.93

1.68

Tata Motors DVR

Tata Steel

ONGC

CMC

3/14

Oil India

BPCL

GAIL

Sterlite Industries

Punjab National Bank

Motherson Sumi Systems1.66

1.61

1.54

1.21

1.20

1.18

-

Bharat Electronics

Cipla

Zee Entertainment Ent.

ITC

Crompton Greaves

0.00

Lupin

2/9

2011

2.86

2010

2009

2008

2007

29509

15.95 9.35 8.72 25.73


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Fund Objective & StrategyValue Research AnalysisBest Performance

AMC :

Website :

Registrar :

Launch :

Benchmark :

Plans (NAV) :

Min Investment (Rs.) :

Min SIP Investment (Rs.) :

Entry Load :

Exit Load :

YEAR

NAV

QUARTER

MONTH

Worst Performance

YEAR

QUARTER

MONTH

All the graphs are rebased to 10,000

Portfolio Manager

Experience

Investment Information

After putting on an impressive show in 2005, it delivered a pretty muted

performance in 2006 and 2007. But it also brought to the fore the inherent

strength of the fund manager, who sticks by his convictions, irrespectiveof whoever else is playing the momentum game. HDFC Equity Fund

focuses on investing in quality companies that are reasonably valued and

have a growth bias, says Jain. So even if it means being temporarily

punished, he will stick to good quality businesses, remain diversified and

be wary of richly valued investments.

In 2007, his high exposure to Financials did not impact as much as Metals

or Construction where the fund's exposure was low. Neither did he go

overboard on Energy. The portfolio moves were, in my opinion, consistent

with our investment approach, says fund manager Jain. The criteria that

go into selecting stocks/sectors are quality, our understanding, growth

prospects and valuation of businesses.

But if investors fretted and critics scorned, Jain turned the tables on them

eventually. Known to always provide decent downside protection

capabilities in the past, it was the same in 2008. Though its fall of 50 per

cent was only marginally lower than that of the category average (53%),

Jain accomplished this without plunging into large caps or resorting to

aggressive cash calls. The focus on value and not on direction of price

movement resulted in the fund being fully invested in the down markets

of 2008-09, he Jain. Being fully invested certainly helped when the market

picked up in March 2009. Last year it was way ahead of the category

average (multi cap) and its benchmark (S&P CNX 500). Over last few

years, the fund has preferred bank stocks over cyclicals like Metals as

ROE/Growth are better on one hand and valuations cheaper on the other

for the former. This hurt performance in 2008 as banks under-performed

due to global banks being in stress and the same has helped in 2009 asbanks have done well, says Jain. The mid- and small-cap exposure also

helped, though Jain has booked profits and is now titling towards large

caps.

The fund's size has not dampened performance though it has led to a

much more diversified offering of around 60 stocks.

S&P CNX Nifty

The scheme seeks to provide

long-term capital appreciation

by predominantly investing in

high growth companies.

Computer Age Management Services Ltd.

500

5000HDFC Asset Management Company Ltd

www.hdfcfund.com

Nil

1% for redemption within 365 days

S&P CNX 500

179.39%

95.14%

35.86%

-52.70%

-40.02%

-31.58%

December 1994

Since Jun 2003

Prashant Jain

Dividend (47.54) , Growth (281.43)


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Birla Sun Life Frontline Equity Fund

Volatility Measurements

Standard Devia tion 28.32

Sharpe Ratio 0.21

Beta 0.88

R-Squared 0.96

Alpha 4.77

Risk Analysis

Equity 71.37

Debt 18.46

Cash 10.17

Composition (%)


Y ea r- to -Date - 48 .5 0 - 55 .2 9 3 4/19 2 - 51 .7 9 - 40 .1 8

3-Month -18. 97 -22.88 41/ 213 -24.53 -0.86

6-Month -20. 78 -27.09 38/ 209 -26.76 -33.43

1-Year -48. 50 -55.29 34/ 192 -51.79 -40.18

2-Year -8. 59 -16.06 22/ 158 -13.63 -24.19

3-Year 7.27 -1.39 12/134 1.42 -9.43

5-Year 16.27 12.91 19/67 9.50 9.90

7-Year - - - - -

10-Year - - - - -

Return less than 1-year are absolute and over 1 year are annualised

Return Rank S&P SIP

Fund Category Fund/Cat CNX Nifty Return

Quarterly Returns (%)

2008 -24.24 -14.18 -2.23 -18.97 -48.50

2007 -1.42 14.53 16.01 23.88 62.26

2006 19.42 -7.25 19.39 11.70 47.70

2005 -0.04 6.52 23.26 8.02 41.77

2004 0.71 -13.50 15.08 21.15 21.46

Q1 Q2 Q3 Q4 Year

Fund Perfor mance Vs S&P CNX Nifty

Company Sector P/E 2008 Ret % Assets

Top Holdings

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

NAV (Rs) - - - - 10.33 19.71 23.94 33.94 50.13 81.34 41.89

Total Return (%) - - - - - 90.80 21.46 41.77 47.70 62.26 - 48.50

+/-S&P CNX Nifty (%) - - - - - 18.90 10.78 5.43 7.87 7.49 3.29

+/-BSE 200 (%) - - - - - -3.67 5.77 7.97 8.12 1 .82 7.96

Rank (Fund/Category) - - - - - 54/70 50/79 6 5/101 27/145 71/162 3 4/192

52 Week High (Rs) - - - - 10.33 19.71 23.94 33.94 50.76 81.46 83.52

52 Week Low (Rs) - - - - 8.84 9.91 16.36 22.34 32.26 4 6.06 36.49

Net Assets (Rs.Cr) - - - - 51.40 15.15 9.11 140.54 124.74 374.84 343.03

Expense Ratio (%) - - - - 2.49 2.50 2.50 2.50 2.50 2.35 2.31

Rating:Risk: Low

Return: AboveAverage90000

70000

50000

30000

10000

History

Total Stocks 39

Avg Mkt Cap (Rs.Cr) 28180

Portfolio P/B Ratio 3.03

Portfolio P/E Ratio 13.70

3 Y Ea rni ng s Gr ow th ( %) 9. 80

F in anc ia l 1 6. 24 1 1. 90

Energy 14.67 37.49

Communica tion 8 .00 11.34

T ec hn ol ogy 7. 16 1 0. 95

FMCG 6.29 6.85

H ea lt h C ar e 5. 00 2. 74

E ngi nee ri ng 4. 01 5. 26

Metals 3.07 4.43

Services 2.93 0.28

D iv er si fi ed 1. 43 2. 97

F un d N if ty

Top 10 Sector Weights (%)

Portfolio Characteristics

Returns as on 31st December 2008, Portfolio related data as on 30th November 2008

B har ti A ir te l C om mun ic at io n 18 .5 6 -2 8. 10 6 .4 9

R el ian ce I nd us tr ie s E ne rgy 1 1. 50 - 57. 30 5 .4 2

ONGC Energy 8.31 -46.00 4.50

HDFC Bank Financial 20.67 -42.26 3.93

HDFC Financial 17.10 -48.21 3.51

Satyam Compute r Services Technology 7 .86 -62 .12 3 .16

ITC FMCG 21.00 -18.47 2.72

Axis Bank Financial 10.42 -47.82 2.70

Infos ys T ec hn ol og ie s T ec hn ol og y 1 4.29 - 36 .7 9 2 .6 4

United Spirits FMCG 23.26 -55.48 2.34

ICICI Bank Financial 9.49 -63.62 2.26

D r. R ed dy 's L ab H eal th C ar e 13 .6 1 - 36 .1 2 2 .1 9

S ta te B an k o f I nd ia F in an ci al 9 .3 9 - 45. 67 2 .1 3

C ro mp to n G re av es E ng in ee ri ng 1 2.29 - 65 .8 4 2 .1 2

Indian Oil Energy -- -46.33 1.95

Cipla Health Care 22.87 -12.09 1.70

Sterlit e I ndustries Metals 11.81 - 74. 80 1.61

Reliance Communications Communication 22.87 -69.56 1.51

J in dal S te el & P ow er M et al s 7 .0 7 - 7 0. 31 1 .4 6

L ars en & T oub ro D iv er si fi ed 17 .6 5 - 62. 88 1 .4 3

Z ee En te rt ai nm en t S er vi ce s 16 .0 1 -5 7. 45 1 .4 1

CESC Energy 6.21 -62.11 1.37

Tata Consu ltancy Services Techno logy 12.79 -55 .87 1 .36

I NG Vysya Bank Financial 8.89 - 50. 78 1.35

Nestle India FMCG 26.11 -3.14 1.23

Growth Blend ValueInvestment StyleFUNDSTYLE

LargeMediumSmall

Capitalisation

Fund

S&PCNX Nifty

(Rebased to 10,000)

How to Read the Fundcard - Equity

Value Research Rating, Risk and Return

Fund Rating The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that an equity fund has generated over the pre-

vious three and five years, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type. Risk Grade Afive-step grading of the riskiness of a fund, based on the losses it has suffered during the past five years. This grade is relative toother fund of the same type.

Returns Grade Afive-step grading of the returns of a fund. This grade is relative to other fund of the same type.

History

Data on the funds performance

since its launch.

NAV (Year End) The lastNAV of each year.

Total Return The percent-age returns that an investor

would have got over theyear.

+/- In the given year, acomparison of the funds

returns with that of two stock

market indices

Rank The funds perform-ance rank within its category

for the year and the total

number of funds out of

which it has been ranked.

52-Week NAV Range Thehighest and the lowest NAV

that the fund recorded dur-

ing that year

Net Assets The totalamount of investors assetsthat the fund was managing

at the end of the year.

Expense Ratio The per-centage of the average daily

assets that the fund charged

as its management expens-

es during the year.


Performance data for various stan-

dard periods. All returns are in per-

centage. Periods greater than a

year are annualised, shorter peri-

ods are not.

Fund The funds ownreturns.

Category The averagereturns for all funds in the cate-

gory.

Rank The funds rank, out ofthe total number of funds in the

category

Index The returns of thefunds benchmark index.

SIP Return (Annualised) The return that an investor

would have made by investing

in the funds monthly systemat-

ic investment plan over the

period.

Quarterly Returns (%)

The funds returns over each quar-

ter of the last five years, along with

the entire years returns.

Fund Performance Vs Index

Graph of how an investors money

would have grown in the fund since

its launch. A similar graph of the

funds benchmark index is also

given. For ease of comparison,

both have been adjusted to start at10,000.

Risk Analysis

Arange of statistical measures thatcan be used to evaluate the per-

formance, risk, and return of a

mutual fund.

Top Holdings

A detailed report on the latest

investment portfolio that the fund

is holding. For each company,

the sector, the P/E ratio, and theyears returns are given. Also

stated is the percentage of the

funds investments that are

invested in that company.

Portfolio Characterstics

Aggregate measures regarding

the funds investments. The mar-

ket capitalisation, P/B ratio and

P/E ratio are weighted averages

of the latest numbers of the com-

panies that the fund is invested

in. Three Year Earnings Growth

is the weighted average of thecompounded average growth in

the net profits of each company.

Fund Style

Anine-cell matrix of the overall style

of investment that the fund follows,

based on its latest portfolio. On the

vertical axis, the three steps denote

the weighted average market capital-

isation of the funds investments. The

horizontal axis denotes, on a weight-

ed average basis, whether the com-panies that the fund has invested in

are value stocks, growth stocks, or a

blend of the two.

Top 10 SectorWeights (%)

The percentage of

the equity invest-

ments of the fund

that fall under each

sector of the econo-

my. The top 15 sec-

tors for each fund

are given.

Composition (%)

The proportion of

the funds holdings

that are held in

each of the three

basic types of

assets.


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