N o v e m b e r Birla Sun Life. Birla Sun Life Frontline Equity Fund

51 

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(1)

Birla Sun Life

Frontline Equity Fund

An open ended Growth Scheme

Mutual Fund investments are subject to market risks. Please read the Statement of

Additional Information / Scheme Information Document carefully before investing.

Call 1-800-270-7000/1-800-22-7000 (toll-free) | Visit www.birlasunlife.com

sms AIM to 56161

Birla Sun Life

Frontline Equity Fund

An Open ended Growth Scheme

Birla Sun Life

Frontline Equity Fund

An Open ended Growth Scheme

How do you always keep

your investments at the top?

For more details please refer page No 26

N o v e m b e r

2 0 1 0

(2)

Index

OUTLOOK . . . 3

SIP . . . 4

SAVINGS SOLUTIONS

Birla Sun Life Cash Plus . . . 5

Birla Sun Life Cash Manager . . . 6

Birla Sun Life Savings Fund . . . 7

Birla Sun Life Short Term Fund . . . 8

Birla Sun Life Dynamic Bond Fund . . . 9

Birla Sun Life Medium Term Plan . . . 10

Birla Sun Life Income Plus . . . 11

Birla Sun Life Income Fund. . . 12

Birla Sun Life Floating Rate - Short Term Plan . . . 13

Birla Sun Life Gilt Plus . . . 14

Birla Sun Life Government Securities Fund . . . 15

REGULAR INCOME SOLUTIONS

Birla Sun Life Monthly Income . . . 17

Birla Sun Life MIP . . . 18

Birla Sun Life MIP II - Wealth 25 Plan. . . 19

Birla Sun Life MIP II - Savings 5 Plan . . . 20

TAX SAVINGS SOLUTIONS

Birla Sun Life Tax Relief '96 . . . 21

Birla Sun Life Tax Plan . . . 22

WEALTH CREATION SOLUTIONS

Birla Sun Life Equity Fund . . . 23

Birla Sun Life Advantage Fund . . . 24

Birla Sun Life Midcap Fund . . . 25

Birla Sun Life Frontline Equity Fund . . . 26

Birla Sun Life Infrastructure Fund . . . 27

Birla Sun Life Basic Industries Fund . . . 28

Birla Sun Life India GenNext Fund . . . 29

Birla Sun Life New Millennium Fund . . . 30

Birla Sun Life Top 100 Fund . . . 31

Birla Sun Life Buy India Fund . . . 32

Birla Sun Life MNC Fund . . . 33

Birla Sun Life Index Fund . . . 34

Birla Sun Life India Opportunities Fund . . . 35

Birla Sun Life Dividend Yield Plus . . . 36

Birla Sun Life 95 Fund . . . 37

Birla Sun Life Freedom Fund . . . 38

Birla Sun Life Asset Allocation Fund . . . 39

Birla Sun Life Special Situations Fund . . . 40

Birla Sun Life Commodity Equities Fund . . . 41

Birla Sun Life International Equity Fund - Plan A . . . 42

Birla Sun Life International Equity Fund - Plan B . . . 43

Birla Sun Life Pure Value Fund . . . 46

METHODOLOGY OF RANKING . . . 53

Birla Sun Life Enhanced Arbitrage Fund . . . 16

Birla Sun Life Small & Midcap Fund . . . 44

Birla Sun Life India Reforms Fund . . . 45

Birla Sun Life Long Term Advantage Fund . . . 47

DIVIDEND HISTORY . . . 48-50

ASSET ALLOCATION GUIDE . . . 51

OUR COVERAGE . . . 52

N o v e m b e r 2 0 1 0

(3)

Outlook

N o v e m b e r 2 0 1 0

Our Investment Team

(In alphabetical order)

Achala Kanitkar Research Analyst : Equity Ajay Argal Head Equity : Offshore Ajay Garg Fund Manager : Equity

Ankit Sancheti Fund Manager/ Research Analyst : Equity Atul Penkar Fund Manager/ Research Analyst : Equity Chanchal Khandelwal Research Analyst : Equity

Hemang Dagli Sr. Equity Dealer / Fund Manager Kaustubh Gupta Fund Manager / Dealer : Fixed Income

Lokesh Mallya Fund Manager / Research Analyst : Fixed Income Mahesh Patil Head Equity : Domestic Assets

Maneesh Dangi Head : Fixed Income Mayank Hyanki

Naysar Shah Sr Research Analyst : Equity

Nishit Dholakia Fund Manager / Research Analyst : Equity Paresh Khandelwal Research Analyst : Equity

Prasad Dhonde Fund Manager / Dealer : Fixed Income Research Analyst : Equity

Rohit Murarka Research Analyst : Fixed Income Sanjay Chawla Fund Manager : Equity Satyabrata Mohanty Head : Mixed Assets

Shaktie Prakash Fund Manager / Dealer : Fixed Income Sujit Patki Dealer : Equity

Sunaina Da cunha Fund Manager / Research Analyst : Fixed Income Varda Pandey

Vineet Maloo Fund Manager/ Research Analyst : Equity Research Analyst : Fixed Income

Inflation weighed on sentiment

Government bond yields traded with an upside bias in October. Markets prepared for

an impending monetary action by the Central Bank in the November 2 credit policy

review that would look to calm the surge in inflationary expectations on account of the

composite WPI growth at “unacceptably high” levels. The 10-year benchmark bond

lost its sheen as market participants diverted volumes towards the 2022 bonds; yield

on the 7.80% 2020 bond hardened from the 7.90% levels to close the month at 8.12%.

Macro data mixed

Industrial Production growth released at a dismal 5.6% for the month of August relative

to market expectations of 9.5% while the previous month's print was revised higher by

140bps to 15.20%. Capital Goods component of the use-based classification of the

Industrial growth contributed a contraction of 0.34% to the overall index relative to

growth of 8.7% in the previous month reiterating the volatility in the momentum of

industrial activity in the economy. Non-discretionary consumption continues to remain

weak, the non-durable goods production contributing the smallest (0.38%) to the

average IP growth of 10.6% in the April-August 2010 period. Inflation on the other hand

for the month of September remained firm at 8.6% (in line with market expectations)

and further expected to remain sticky as commodity price pressures on account of the

second round of quantitative easing would keep the core inflation (largely

demand-push inflation) firm.

Positive guidance from RBI

The Central Bank doled out the much expected rate action in the November 2 policy

review, raising the repo and reverse repo by 25bps each but also citing a much lower

likelihood of any further hikes in the coming three months (defined as the near term), as

the inflation trajectory is expected to come off to 6% level by March 2011. With fears of

persistent asset price inflation on account of plush global liquidity rendering serious

upside risks to core inflation notwithstanding, bond market cheered the near term

pause guidance given by RBI. Bond prices were observed to be inching higher in

response also as the central bank announced a proactive stance on liquidity

management to avert sharp fluctuations in cash conditions that may hinder bank credit

growth and government bond issuances.

The most liquid 8.13% 2022 bond traded strong as its yield softened nearly 10bps

since October-end levels to trade currently at 8.02%. Open market purchase

Debt Outlook

announcement by the central bank in long dated securities (more importantly the

7.80% 2020 bond) further encouraged investor sentiment to support the bond price

gains observed in the first week of November.

Liquidity tight

Liquidity in the banking system however remained in deficit and more importantly

skewed on account of the Coal India IPO outflows from the system. Short term rates

were rose in response – the 3-month rate on certificate of deposits firmed by 10-15bps

to nearly 8% levels while the one-year asset traded consistently at 8.50% plus levels.

FOMC's decision to purchase another $600 billion of longer term treasury securities

(second round of quantitative easing) sustained the buying is US bonds although

possible commodity price inflation as liquidity flows to other asset classes was not

observed to reinforce the investor sentiment domestic bond markets.

Decline in inflation momentum expected

We remain positive on government bond yields, expected to come off now on account

of the gradual decline in inflation momentum (owing to the favourable base effect and

the monsoon impact on food price inflation) and subsequently the central bank's intent

to pause for any near term rate action. Global economic recovery is expected to report

intermittent jerks that are expected to keep investor interest intact in global bonds

although the domestic investor sentiment would be largely governed by domestic

macroeconomic indicators only.

We expect the growth in bank credit to clock sub-20% levels by FY11-end as the

non-infrastructure sector lending remains weak further indicating a momentum slowdown

in industrial activity and the overall growth trajectory.

Liquidity is expected to remain tight as the coming weeks drain out the currency from

the system on account of the festive season spending. We remain negative on

corporate spreads that may widen going ahead on account of the expected softening

of the underlying benchmark sovereign yields. While short-term rates currently trading

at 8% plus levels across the 3-month plus maturities are expected to have peaked out

amidst the banking system cash deficit of nearly INR 1 trillion, we do not however

expect any material easing in rates as the banking system would reel under a

structural liquidity deficit.

Equity Outlook

FIIs bolster Indian markets

After recording double-digit gains in September, the benchmark indices consolidated

the gains in October. The BSE Sensex and the S&P CNX Nifty eased by 0.2% each.

Meanwhile, the listing of Coal India attracted massive investor interest. This amply

demonstrates that investors are willing to pour capital wherever they see sustainability

of earnings trajectory. So, FIIs infused $6.42 billion in October, the highest amount in

any single month since they were first allowed to invest in local stocks. This has taken

the total FII inflow, so far in 2010, beyond $24.79 billion, a record for a single calendar

year.

Sector performance was skewed. Health Care segment climbed 7.30%. Oil & gas and

Auto surged by over 4% each. Among the laggards were Power, FMCG and Real

Estate.

Healthy earnings

The second quarter earnings did not disappoint the market and painted a healthy

picture for domestic businesses. So, Consumers, Financials, Healthcare and

Industrials posted better than expected profit growth while Utilities and Commodities

disappointed.

Need to watch macro data

On the economic front, India's infrastructure output grew at 2.5% y-o-y in September,

the slowest pace in the last 18 months. This is the second data after the subdued IIP

data released earlier showed a decline. We believe that these statistical series are too

volatile to decisively indicate a trend change from one or two months of data. That is

why we focus on the RBI's statement in the latest Review of Monetary Policy where it

has indicated that the domestic economy is operating close to the trend growth rate,

driven mainly by domestic factors. The normal Southwest monsoon and its delayed

withdrawal have boosted the prospects of both kharif and rabi agricultural production

which should also stimulate rural demand. Most industrial and service sector

indicators also point towards sustained growth. The Central Bank retained its baseline

GDP growth rejection at 8.5%.

The RBI indicated its cautious stance on inflation and that some of the components

could be becoming structural in nature. Its focus is on containing build up of inflationary

expectations. Along with 25bps increase in repo and reverse-repo rates, the RBI also

announced some measures to prevent excessive leveraging in the Real Estate sector.

Momentum likely to sustain

Looking at the broader picture, the recovery seems well established and transition

from government stimulus to private-sector led growth is visible. Though markets may

witness moderate correction induced by global macroeconomic volatility, it should

attract significant buying support at the lower price levels. We think that domestic

investors would gradually start coming back to equity markets after tasting the sweet

fruits of returns in some recent IPOs. Just to reiterate our stance, investors should

allocate incremental capital to equity markets at regular intervals. Corporate earnings

have recovered from the downturn and given the momentum in domestic economy we

could expect earnings growth of 15-20% over the next 3 years which would be the

primary driver market returns going forward.

(4)

As on October 31, 2010

Systematic Investment Plan (SIP)

Note :

Past performance may or may not be sustained in future.

Returns assume reinvestment of tax free dividend declared.

The data assumes the investment of

`

1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns.

*CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

The above returns calculated assuming investments in Plan A -Growth option or Growth option as applicable and Dividend Plan in case of Birla Sun Life Tax Relief'96

Date of First Installment : April 01, 1996

Inception Date : March 29, 1996

Investment Period Total Investment

( )

`

Birla Sun Life

Tax Relief ‘96

BSE 200

(Benchmark Index)

Value ( ) of SIP in

`

Returns (%)*

Since Inception

176000

773656

2248720

18.48%

30.94%

Last 5 years

60000

92925

95831

17.57%

18.83%

Last 3 years

36000

51344

53510

24.58%

27.63%

Last 1 year

12000

13920

13972

31.36%

32.24%

Birla Sun Life Tax Relief ‘96

Birla Sun Life

Tax Relief ‘96

SIP is a powerful tool that can help you create wealth over time.

Date of First Installment : November 01, 2002

Inception Date : October 03, 2002

Investment Period Total Investment

( )

`

Value ( ) of SIP in

`

Returns (%)*

Since Inception

96000

296776

351626

27.38%

31.51%

Last 5 years

60000

105641

110028

22.86%

24.56%

Last 3 years

36000

58516

59013

34.38%

35.03%

Last 1 year

12000

14462

14047

40.65%

33.51%

Birla Sun Life Midcap Fund

Birla Sun Life

Midcap Fund

Date of First Installment : October 01, 2002

Inception Date : August 30, 2002

Investment Period Total Investment

( )

`

Value ( ) of SIP in

`

Returns (%)*

Since Inception

97000

251549

324022

22.87%

28.92%

Last 5 years

60000

92919

105814

17.57%

22.93%

Last 3 years

36000

51339

54512

24.57%

29.01%

Last 1 year

12000

13920

13934

31.36%

31.60%

Birla Sun Life Frontline Equity Fund

Birla Sun Life

Frontline Equity

Fund

Date of First Installment : March 01, 2003

Inception Date : February 26, 2003

Investment Period Total Investment

( )

`

Value ( ) of SIP in

`

Returns (%)*

Since Inception

92000

212887

273470

21.35%

27.72%

Last 5 years

60000

91011

119357

16.72%

27.97%

Last 3 years

36000

50853

64599

23.87%

42.10%

Last 1 year

12000

13816

15039

29.59%

50.77%

Birla Sun Life Dividend Yield Plus

Birla Sun Life

Dividend Yield

Plus

Date of First Installment : April 01, 1995

Inception Date : February 10, 1995

Investment Period Total Investment

( )

`

Birla Sun Life

'95 Fund

CRISIL Balanced

Fund Index

(Benchmark Index)

Value (

`

) of SIP in

Returns (%)*

Since Inception

187000

517280

1883129

12.04%

26.08%

Last 5 years

60000

84726

101291

13.80%

21.12%

Last 3 years

36000

46233

53820

17.01%

28.06%

Last 1 year

12000

13421

13855

22.95%

30.25%

Birla Sun Life ‘95 Fund

Birla Sun Life

'95 Fund

CRISIL Balanced

Fund Index

(Benchmark Index)

Birla Sun Life

Dividend Yield

Plus

Birla Sun Life

Frontline Equity

Fund

Birla Sun Life

Midcap Fund

BSE 200

(Benchmark Index)

CNX Midcap

(Benchmark Index)

CNX Midcap

(Benchmark Index)

BSE 200

(Benchmark Index)

BSE 200

(Benchmark Index)

S & P CNX 500

(Benchmark Index)

S & P CNX 500

(Benchmark Index)

N o v e m b e r 2 0 1 0

(5)

Fund Details

Investment Objective

As on October 31, 2010

Birla Sun Life Ultra Short Term Fund

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager : Mr. Lokesh Mallya

Managing Fund Since : September 29, 2009

Total Experience : 5 years & 4 years

Date of inception : April 19, 2002

Nature of the scheme : An Open-ended Short Term

Income Scheme

Default option : Appln of less than 2 cr - Retail

Plan - Fortnightly Dividend Reinvestment

Appln of equal to or greater than 2 cr - Institutional Plan - Fortnightly Dividend Reinvestment Retail Plan Fresh Purchase : 10000/-Additional Purchase : 1000/-Institutional Plan

Fresh Purchase : 2 Crore Additional Purchase :

10000/-Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP) Retail Plan Growth : 17.1454 Daily Dividend : 10.0055 (Reinvestment) Fortnightly Dividend : 10.3333

(Payout & Reinvestment)

Monthly Dividend : 10.8206

(Payout, Reinvestment & Sweep Option) Institutional Plan Growth : 11.3066 Daily Dividend : 10.0055 (Reinvestment) Fortnightly Dividend : 10.2459

(Payout & Reinvestment)

Benchmark : CRISIL Short-Term Bond Fund

Index

Average AUM : 1,597.79 Crores

Entry Load : Nil

Exit Load** :

Average Maturity : 0.16 Years

Yield to Maturity : 6.85%

Mark to Market :

-Standard Deviation : 0.25%

Mr. Kaustubh Gupta &

Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter ` ` ` ` ` ` `

For redemption/switch-out of units within 15 days from the date of allotment: 0.25% of applicable NAV.

(As on October 29, 2010)

Weekly Dividend : 10.1764

(Payout & Reinvestment)

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

% Returns

Birla Sun Life Ulta Short Term Fund - Retail Plan - Growth CRISIL Short-Term Bond Fund Index

Investment Performance

Rating Profile

An open-ended short term income scheme with the objective to generate income and capital appreciation by investing 100% of the corpus in a

diversified portfolio of debt and money market securities with relatively low levels of interest rate risk.

Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer.

Portfolio & Asset Allocation

Issuer % to Net Rating Assets

Issuer % to Net Rating Assets

Money Market Instruments 101.90

Dena Bank 18.56 P1+

HDFC Ltd. 17.07 A1+

ICICI Bank Ltd. 13.44 A1+

Punjab and Sind Bank 11.96 A1+

Andhra Bank 8.87 PR1+

IndusInd Bank Ltd. 7.47 P1+ State Bank of Patiala 4.08 P1+ IndusInd Bank Ltd. 3.74 PR1+ Punjab National Bank 3.74 PR1+

IDBI Bank Ltd. 3.72 A1+

Canara Bank 3.71 P1+

State Bank of Hyderabad 1.86 A1+

Bank of India 1.83 P1+

Central Bank of India 0.75 PR1+ Kotak Mahindra Bank Ltd. 0.73 P1+

Corporation Bank 0.38 P1+

Cash & Current Assets -1.90

Total Net Assets 100.00

Sa

vings

So

lut

ion

s

(Past performance is no guarantee of future results.) for ranking methodology please refer page 53

Birla Sun Life Ultra Short Term Fund- Institutional Plan

Ultra Short Term Debt Schemes-Inst (114 Schemes), 18 months & 3 years ended 31-Oct-10 #

i

i

i

i

Value Research Rating

4.86 6.51 7.11 6.52 4.84 7.05 6.71 6.16 0 1 2 3 4 5 6 7 8

1 Year 3 Years 5 Years Since Inception

-1.90%

101.90%

Cash & Current Assets AAA

Birla Sun Life Ultra Short Term Fund - Retail Plan

Ultra Short Term Debt Schemes (40 Schemes), 1yr ended 30-Sep-10

CRISIL~CPR 2^^

Birla Sun Life Ultra Short Term Fund- Institutional Plan

Ultra Short Term Debt Schemes-Inst (27 Schemes), 1yr ended 30-Sep-10

(6)

Fund Details

Investment Objective

Birla Sun Life Dynamic

Bond Fund

As on October 31, 2010

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager :

Managing Fund Since : June 18, 2009

Total Experience : 10 years

Date of inception : September 27, 2004

Nature of the scheme : An Open-ended Income Scheme

Default option : Quarterly Dividend Reinvestment

Retail Monthly Dividend Sweep Option

Fresh Purchase : 5 lacs Additional Purchase :

1000/-For Other Option

Fresh Purchase : 5000/- Additional Purchase :

1000/-Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP)

Retail Growth : 15.9359 Retail Quarterly Dividend : 11.1948

(Payout, Reinvestment & Sweep Option)

Retail Monthly Dividend : 10.4656

(Payout, Reinvestment & Sweep Option)

Retail Monthly Dividend sweep option also available (w.e.f Jan 12, 2009)

Benchmark : CRISIL Composite Bond Fund

Index

Average AUM : 6,494.18 Crores

Entry Load : Nil

Exit Load** : For redemption/switch-out of units

within 180 days from the date of allotment: 0.50% of applicable NAV. For redemption/switch-out of units after 180 days but before 270 days from the date of allotment: 0.20% of applicable NAV. For redemption/switch-out of units after 270 days from the date of allotment: Nil

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average Maturity : 3.13 Years

Modified Duration : 3.07 Years

Yield to Maturity : 8.00%

Mark to Market : 95%

Standard Deviation : 0.97%

Mr. Maneesh Dangi

Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter ` ` ` ` ` (As on October 29, 2010) Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer.

(Past performance is no guarantee of future results.) for ranking methodology please refer page 53 #

i

i

i

i

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Value Research Rating

Birla Sun Life Dynamic Bond Fund

Debt: Medium Term (52 Schemes), 18 months & 3 years ended 31-Oct-10

Portfolio & Asset Allocation

Issuer % to Net Rating

Assets Issuer % to NetAssets Rating

Corporate Debt 29.40

LIC Housing Finance Ltd. ** 6.11 AAA Reliance Ports & Terminals Ltd. ** 4.96 AAA Tata Capital Ltd. ** 2.44 AA+

Tata Sons Ltd. ** 2.23 AAA

Sundaram Finance Ltd. ** 1.98 AA+ Aditya Birla Nuvo Ltd. ** 1.94 LAA+ GE Capital Services India. ** 1.55 AAA RHC Holding Private Ltd. ** 1.47 Unrated Kotak Mahindra Prime Ltd. ** 1.28 AA Tata Capital Ltd. ** 1.18 LAA+ Reliance Industries Ltd. ** 1.17 AAA Mundra Port & Special Economic Zone Ltd. ** 0.85 AA(SO) Sundaram Finance Ltd. ** 0.81 LAA+ Bajaj Finance Ltd. ** 0.44 LAA+ Kotak Mahindra Prime Ltd. ** 0.42 LAA Mahindra & Mahindra Financial Services Ltd. ** 0.50 AA

IDFC Ltd. ** 0.06 AA+

Government Bond 27.42

07.80% CGL 2020 11.31 Sovereign 07.99% CGL 2017 9.81 Sovereign 08.26% GOVT.STOCK 2027 3.44 Sovereign 8.08% GOI 02Aug 2022 2.45 Sovereign 07.47% OIL MKT CO GOI BOND 2012 0.25 Sovereign 08.13% CGL 21Sep22 0.16 Sovereign

Floating Rate Instruments 15.07

Power Finance Corporation Ltd. 6.73 AAA Reliance Capital Ltd. 3.87 AAA

HDFC Ltd. 2.77 LAAA

ICICI Bank Ltd. 0.98 AAA

Axis Bank Ltd. 0.65 LAA+

Union Bank of India 0.08 AAA

Money Market Instruments 14.27

IDBI Bank Ltd. 4.42 P1+

Indian Bank 3.11 P1+

State Bank of Patiala 3.05 P1+

Corporation Bank 2.48 P1+

Sundaram BNP Paribas Home Finance Ltd 0.40 A1+

HDFC Ltd. 0.33 A1+

Canara Bank 0.32 P1+

ICICI Bank Ltd. 0.11 A1+

IDBI Bank Ltd. 0.05 A1+

Securitised Debt 9.04

Tata Capital Ltd. ** 8.05 CARE AA+(SO) North Delhi Power Ltd. ** 0.98 LAA (SO)

PSU/PFI Bonds/Banks 1.86

National Housing Bank ** 0.80 AAA IDBI Bank Ltd. ** 0.80 AA+ Rural Electrification Corporation Ltd. ** 0.24 AAA Power Finance Corporation Ltd. ** 0.02 AAA

Cash & Current Assets 2.94

Total Net Assets 100.00

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 40.30 %

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

% Returns

Birla Sun Life DBF - Retail - Growth Crisil Composite Bond Fund Index

Investment Performance

Rating Profile

An Open-ended income scheme with the objective to generate optimal returns with high liquidity through active management of the portfolio

by investing in high quality debt and money market instruments.

Sa

vings

So

lut

ion

s

5.75 9.79 8.56 7.95 5.31 6.02 5.52 5.39 0 2 4 6 8 10 12

1 Year 3 Years 5 Years Since Inception

1.47% 2.94% 22.40% 27.42% 45.78% Unrated Cash & Current Assets AA Sovereign AAA

(7)

Fund Details

Investment Objective

Birla Sun Life Medium

Term Plan

As on October 31, 2010

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager : Mr. Kaustubh Gupta

Managing Fund Since : June 25, 2009

Total Experience : 10 years & 5 years

Date of inception : March 25, 2009

Nature of the scheme : An Open-ended Income Scheme

Default option : Default Plan : Retail

Default Option : Growth Default Facility : Fortnightly Dividend Reinvestment

Retail Plan

Fresh Purchase : 5000/-Additional Purchase :

1000/-For Institutional Plan

Fresh Purchase : 1 Crore Additional Purchase :

10,000/-Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Not Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP) Retail Plan Weekly Dividend : 10.0224 (Reinvestment) Fortnightly Dividend : 10.1697 Monthly Dividend : 10.1782

(Payout, Reinvestment & Sweep Option)

Quarterly Dividend : 10.1459

(Payout, Reinvestment & Sweep Option) Growth : 10.9320 Institutional Plan Weekly Dividend : 10.0342 Fortnightly Dividend : 10.1714 Monthly Dividend : 10.1364

(Payout, Reinvestment & Sweep Option)

Quarterly Dividend : 10.1607

(Payout, Reinvestment & Sweep Option)

Growth : 10.6060

Benchmark : CRISIL Short Term Bond Fund

Index

Average AUM : 1,945.87 Crores

Entry Load : Nil

Exit Load** :

Mr. Maneesh Dangi &

Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter

` ` ` `

(Payout & Reinvestment)

(Reinvestment)

(Payout & Reinvestment)

`

0.25% if redeemed / switched out within 90 days from the date of allotment

0.33 Years

(As on October 29, 2010)

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average Maturity : 0.35 Years

Modified Duration :

Yield to Maturity : 7.44%

Mark to Market : 90%

Standard Deviation

Institutional Plan : 0.60%

Portfolio & Asset Allocation

Issuer % to Net Rating

Assets Issuer % to NetAssets Rating

Money Market Instruments 79.88

Canara Bank 12.89 P1+

Kotak Mahindra Bank Ltd. 11.80 P1+

NABARD 10.39 P1+

South Indian Bank 8.00 PR1+

Vijaya Bank 7.10 PR1+

Tata Teleservices Ltd. 6.64 PR1+

HDFC Ltd. 3.66 A1+

Reliance Capital Ltd. 3.59 A1+ Dhanalakshmi Bank 2.30 PR1+ Oriental Bank of Commerce 2.26 P1+

Yes Bank Ltd. 2.25 P1+

Kotak Mahindra Prime Ltd. 2.25 P1+

Corporation Bank 1.65 P1+

JM Finanical Products Pvt. Ltd. 1.15 P1+

IDBI Bank Ltd. 1.13 P1+

Union Bank of India 1.01 P1+ Central Bank of India 0.69 PR1+

Bank of Baroda 0.68 A1+

Indian Bank 0.45 P1+

Corporate Debt 14.82

HDFC Ltd. ** 6.35 AAA

CitiFinancial Consumer Finance India Ltd ** 3.18 AA Kotak Mahindra Prime Ltd. ** 2.07 LAA Kotak Mahindra Investments Ltd. ** 1.16 A1+ Kotak Mahindra Prime Ltd. ** 1.15 P1+ Tata Capital Ltd. ** 0.55 AA+ Bajaj Finance Ltd. ** 0.23 AA+ LIC Housing Finance Ltd. ** 0.14 AAA

Bills Discounted 1.15

HDFC Bank Ltd. 1.15

Cash & Current Assets 4.15

Total Net Assets 100.00

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

% Returns

Birla Sun Life Medium Term Plan - Retail - Growth Crisil Short Term Bond Fund Index

Investment Performance

Rating Profile

The primary investment objective of the Scheme is to generate regular income through investments in debt & money market instruments in

order to make regular dividend payments to unitholders & secondary objective is growth of capital.

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 14.82 %

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Birla Sun Life Medium Term - Retail Plan

Debt: Medium Term (52 Schemes), 18 months & 3 years ended 31-Oct-10

(Past performance is no guarantee of future results.) for ranking methodology please refer page 53

5.64 5.74 4.84 5.38 0 1 2 3 4 5 6 7

1 Year Since Inception 1.15%

4.15% 6.02%

88.68%

Other Cash & Current Assets AA AAA

CRISIL~CPR 2^^

Birla Sun Life Medium Term - Retail Plan

(8)

Fund Details

Investment Objective

Birla Sun Life Income Plus

As on October 31, 2010

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager : Mr.

Managing Fund Since : Jan 11, 2010

Total Experience : 11 years

Date of inception : October 21, 1995

Nature of the scheme : An Open-ended Income Scheme

Default option : Dividend Reinvestment

Fresh Purchase :

5000/-Additional Purchase :

1000/-Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP)

Growth : 42.5583 Dividend : 11.4049

(Payout & Reinvestment)

Benchmark : CRISIL Composite Bond Fund

Index

Average AUM : 526.85 Crores

Entry Load : Nil

Exit Load** : 0.25% if redeemed / switched out

within 7 days from the date of allotment

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average Maturity : 9.43 Years

Modified Duration : Yield to Maturity : 7.85% Mark to Market : 86% Standard Deviation : 2.19% Prasad Dhonde Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter ` ` ` 9.41 Years (As on October 29, 2010) Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

CRISIL~CPR 1^^

Birla Sun Life Income Plus

Consistent CPR Performer-Debt (14 Schemes), 5 Yrs ended 30-Sep-10

(Past performance is no guarantee of future results.) for ranking methodology please refer page 53

An open-ended income scheme with the objective to generate consistent income through superior yields on its investments at moderate levels

of risk through a diversified investment approach.

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

% Returns

Birla Sun Life Income Plus Growth CRISIL Composite Bond Fund Index

Investment Performance

Rating Profile

Portfolio & Asset Allocation

Issuer % to Net Rating Assets

Issuer % to Net Rating Assets

Government Bond 77.81

08.13% CGL 21Sep22 47.49 Sovereign 8.08% GOI 02Aug 2022 26.99 Sovereign 07.99% CGL 2017 1.94 Sovereign 07.80% CGL 2020 0.95 Sovereign 08.20% CGL 2022 0.38 Sovereign 08.24% CGL 2027 0.06 Sovereign

Corporate Debt 6.26

Reliance Ports & Terminals Ltd. ** 3.90 AAA Reliance Gas Transpotation Infrastructure Ltd ** 2.17 AAA

Infrastructure Leasing & Financial Services Ltd.** 0.19 LAAA

PSU/PFI Bonds/Banks 2.39

Hindustan Petroleum Corporation Ltd. ** 0.95 AAA IDBI Bank Ltd. ** 0.81 AA+ ICICI Bank Ltd. ** 0.62 AAA

Cash & Current Assets 13.54

Total Net Assets 100.00

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 8.65%.

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0.81% 7.84% 13.54% 77.81% AA AAA Cash & Current Assets Sovereign 3.09 8.50 8.26 10.11 5.31 6.02 5.52 0 2 4 6 8 10 12

(9)

Fund Details

Investment Objective

As on October 31, 2010

Birla Sun Life Income Fund

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager :

Managing Fund Since : Jan 11, 2010

Total Experience : 6 years

Date of inception : March 3, 1997

Nature of the scheme : An Open-ended Income Scheme

Default option : Dividend Reinvestment

Fresh Purchase :

5000/-Additional Purchase :

1000/-Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP)

Growth : 34.9163 Quarterly Dividend : 11.1421

(Payout, Reinvestment & Sweep Option)

Half Yearly Dividend : 11.6182

(Payout, Reinvestment & Sweep Option)

54 EA Growth : 34.8921 54 EA Dividend : 10.5231 54 EB Growth : 34.6724 54 EB Dividend : 15.3915

Benchmark : CRISIL Composite Bond Fund

Index

Average AUM : 577.49 Crores

Entry Load : Nil

Exit Load** : 0.50% if redeemed / switched out

within180 days from the date of allotment

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average Maturity : 4.55 Years

Modified Duration : Yield to Maturity : 7.80% Mark to Market : 85% Standard Deviation Retail Plan : 1.85% 54 EA Growth : 1.85% 54 EB Growth : 1.85% Mr. Shaktie Prakash Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter ` ` ` 4.54 Years (As on October 29, 2010) Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

Portfolio & Asset Allocation

Issuer % to Net Rating

Assets Issuer % to NetAssets Rating

Government Bond 36.99

07.80% CGL 2020 19.28 Sovereign 8.08% GOI 02Aug 2022 11.61 Sovereign 07.99% CGL 2017 5.38 Sovereign 07.35% CGL 2024 0.66 Sovereign 06.05% CGL 2019 FEB 0.07 Sovereign

Corporate Debt 24.98

Small Industries Development Bank of India. ** 8.86 CARE AAA Godrej Consumer Products Ltd. ** 4.52 A1+ Kotak Mahindra Prime Ltd. ** 4.44 P1+ National Housing Bank ** 4.38 AAA Reliance Industries Ltd. ** 1.78 AAA Reliance Gas Transpotation Infrastructure Ltd ** 1.01 AAA

Floating Rate Instruments 10.70

Reliance Capital Ltd. 10.70 AAA

PSU/PFI Bonds/Banks 9.72

Hindustan Petroleum Corporation Ltd. ** 5.28 AAA Rural Electrification Corporation Ltd. ** 4.43 AAA

Money Market Instruments 2.30

Bank of Baroda 1.42 A1+

State Bank of Hyderabad 0.88 A1+

Cash & Current Assets 15.31

Total Net Assets 100.00

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

% Returns

Birla Sun Life Income Fund Growth CRISIL Composite Bond Fund Index

Investment Performance

Rating Profile

An open-ended income scheme with the objective to generate income and capital appreciation by investing 100% of the corpus in a diversified

portfolio of debt and money market securities.

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** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 34.69%.

4.64 7.21 8.06 9.58 5.31 6.02 5.52 0 2 4 6 8 10 12

1 Year 3 Years 5 Years Since Inception 15.31%

36.99% 47.69%

Cash & Current Assets Sovereign AAA

(10)

Fund Details

Investment Objective

As on October 31, 2010

Birla Sun Life Floating Rate Fund

Short Term Plan

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager : Ms. Sunaina Da Cunha

Managing Fund Since :June 18, 2009

Total Experience :11 years & 6 years

Date of inception :June 05, 2003

Nature of the scheme :An Open-ended Income Scheme

Default option :Appln of less than 5 cr - Daily

Dividend Reinvestment Appln of equal to or greater than

5 cr - Institutional Plan - Daily Dividend Reinvestment

Retail Plan

Fresh Purchase : 5000/-Additional Purchase :

1000/-Institutional Plan

Fresh Purchase : 5 Crore Additional Purchase : 1 Lac

Redemption Cheques :Within 10 working days

issued

Systematic Investment :NA

Plan (SIP)

Systematic Withdrawal :Available

Plan (SWP)

Systematic Transfer :Available

Plan (STP)

Retail Plan

Growth : 15.6320 Daily Dividend(Reinvestment) : 10.0015 Dividend (Reinvestment) : 10.3873

Institutional Plan

Growth : 12.5970 Daily Dividend (Reinvestment) : 10.0000 Weekly Dividend (Reinvestment): 10.0201 Fortnightly Dividend : 10.0000

(Reinvestment)

Benchmark :CRISIL Liquid Fund Index

Average AUM : 70.97 Crores

Entry Load :Nil

Exit Load :Nil

Average Maturity :0.06 Years

Yield to Maturity :7.00%

Standard Deviation

Retail Plan : 0.29%

Mr. Prasad Dhonde &

Key Features

Plans / Options & NAV

Load Structure Other Parameter ` ` ` ` ` ` ` (As on October 29, 2010)

The primary objective of the schemes is to generate regular income through investment in a portfolio comprising substantially of floating rate

debt / money market instruments. The schemes may invest a portion of its net assets in fixed rate debt securities and money market instruments.

Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer.

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Rating Profile

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Birla Sun Life Floating Rate Fund- Short Term - Retail

Debt: Floating Rate Short Term (96 Schemes), 18 months & 3 years ended 31-Oct-10

(Past performance is no guarantee of future results.) for ranking methodology please refer page 53 25.35%

74.65%

Cash & Current Assets AAA

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Birla Sun Life Floating Rate Fund- Short Term - Inst

Debt: Floating Rate Short Term (96 Schemes), 18 months & 3 years ended 31-Oct-10 Past performance may or may not be sustained in future. Returns are in % and simple annualized for

period less than 1 year & CAGR for period 1 year or more.

% Returns

Birla Sun Life Floating Rate Fund - STP - Growth CRISIL Liquid Fund Index

Investment Performance

6.59 6.49 6.01 6.22 6.32 6.11 5.86 5.64 0 1 2 3 4 5 6 7

15 days 1 Month 3 Months Since Inception

Portfolio & Asset Allocation

Issuer % to Net Rating

Assets Issuer % to NetAssets Rating

Money Market Instruments 74.65

IndusInd Bank Ltd. 12.93 PR1+ ING Vysya Bank Ltd. 12.92 P1+

Canara Bank 12.91 P1+

Central Bank of India 11.50 PR1+ IDBI Home Finance Ltd. 11.48 A1+ Indian Oil Corporation Ltd. 7.18 P1+

Union Bank of India 4.29 P1+

Allahabad Bank 1.44 A1+

Cash & Current Assets 25.35

(11)

Investment Objective

As on October 31, 2010

An open - ended government securities scheme with the objective to generate income and capital appreciation through investments exclusively

in Government Securities.

Birla Sun Life Gilt Plus

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager :

Managing Fund Since : June 18, 2009

Total Experience : 6 years

Date of inception : October 12, 1999

Nature of the scheme : An Open-ended Government

Securities Scheme

Default option : Growth

Fresh Purchase :

5000/-Additional Purchase :

1000/-Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP) Liquid Plan

Growth : 21.8457

(Quarterly Gain & Annual Gain)

Dividend : 10.3867

(Payout, Reinvestment & Sweep Option)

Annual Dividend Option : 10.5805

(Payout, Reinvestment & Sweep Option) PF Plan

Growth : 24.2371

(Quarterly Gain & Annual Gain)

Dividend : 10.0558

(Payout, Reinvestment & Sweep Option)

Annual Dividend Option : 18.1599

(Payout, Reinvestment & Sweep Option) Regular Plan

Growth : 31.1636

(Quarterly Gain & Annual Gain)

Dividend : 11.9701

(Payout, Reinvestment & Sweep Option)

Annual Dividend Option : 23.3339

(Payout, Reinvestment & Sweep Option)

Benchmark :

Liquid Plan : I-Sec SI-BEX PF Plan : I-Sec LI-BEX Regular Plan : I-Sec LI-BEX

Average AUM

Liquid Plan : 5.74 Crores PF Plan : 46.89 Crores Regular Plan : 388.54 Crores

Liquid Plan, Regular Plan & PF Plan - Quarterly / Annual Dividend

Entry Load : Nil

Exit Load : Nil

PF Plan - Growth

Entry Load : Nil

Exit Load** : 1% if redeemed / switched out

within 365 days from the date of allotment

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average Maturity

Liquid Plan : - PF Plan : 9.95 Years Regular Plan : 4.94 Years

Modified Duration Liquid Plan : -PF Plan : Regular Plan : Yield to Maturity Liquid Plan : 6.00 % PF Plan : 8.00 % Regular Plan : 7.85 % Mark to Market Liquid Plan : -PF Plan : Regular Plan : 47% Standard Deviation Liquid Plan : 1.72 % PF Plan : 2.27 % Regular Plan : 2.30 % Mr. Shaktie Prakash Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter ` ` ` ` ` 9.93 Years 4.93 Years 90% (As on October 29, 2010) Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer.

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Investment Performance - Liquid Plan

Rating Profile - Liquid Plan

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Investment Performance - PF Plan

Rating Profile - PF Plan

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Investment Performance - Regular plan

Rating Profile - Regular Plan

Birla Sun Life Gilt Plus - LP Growth I-Sec SI-BEX

Birla Sun Life Gilt Plus - PF Growth I-Sec LI-BEX

Birla Sun Life Gilt Plus - RP Growth I-Sec LI-BEX

% Returns

% Returns

% Returns

Fund Details

Issuer % to Net Rating Assets

Government Bond 90.42

08.13% CGL 21Sep22 45.64 Sovereign 07.80% CGL 2020 33.43 Sovereign 8.08% GOI 02Aug 2022 11.35 Sovereign

Cash & Current Assets 9.58

Total Net Assets 100.00

Issuer % to Net Rating Assets

Cash & Current Assets 100.00

Total Net Assets 100.00

Portfolio & Asset Allocation - Liquid Plan

Portfolio & Asset Allocation - PF Plan

Issuer % to Net Rating Assets

Government Bond 46.60

8.08% GOI 02Aug 2022 35.82 Sovereign 07.99% CGL 2017 10.79 Sovereign

Cash & Current Assets 53.40

Total Net Assets 100.00

Portfolio & Asset Allocation - Regular Plan

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100.00% Cash & Current Assets

9.58%

90.42% Sovereign

Cash & Current Assets

46.60%

53.40%

Sovereign Cash & Current Assets 6.12 5.05 5.45 7.32 5.38 7.97 7.47 0 1 2 3 4 5 6 7 8 9

1 Year 3 Years 5 Years Since Inception

1.59 3.94 4.38 8.34 5.41 7.94 7.17 0 1 2 3 4 5 6 7 8 9

1 Year 3 Years 5 Years Since Inception

2.26 7.82 7.57 10.83 5.41 7.94 7.17 0 2 4 6 8 10 12

(12)

As on October 31, 2010

Fund Details

Investment Style Box

Low Interest RateSensitivity

High Mid Low Credit Quality High Med Fund Manager :

Managing Fund Since : June 18, 2009

Total Experience : 10 years

Date of inception : October 28, 1999

Nature of the scheme : An Open-ended Gilt Scheme

Default option : Growth

For Short Term Retail Plan & Long Term Plan

Fresh Purchase : 5000/-Additional Purchase :

1000/-For Short Term Institutional Plan

Fresh Purchase : 5 crores Additional Purchase : 1 lacs

Redemption Cheques : Within 10 working days

issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP)

Long Term Plan

Growth : 27.6639 Dividend : 11.3408

(Payout & Reinvestment) Short Term Plan - Retail

Growth : 18.6956 Dividend : 10.1698

(Payout & Reinvestment)

Daily Dividend : 10.0031 (Reinvestment) Weekly Dividend : 10.0130 (Reinvestment) Institutional Plan Daily Dividend : 10.0000 Benchmark

Short Term Plan : I-Sec SI-BEX Long Term Plan : I-Sec LI-BEX

Average AUM

Long Term Plan : 501.24 Crores Short Term Plan : 3.22 Crores

Entry Load : Nil

Exit Load

Long Term Plan :

Average Maturity

Long Term Plan : Short Term Plan :

Yield to Maturity

Long Term Plan : 7.60 % Short Term Plan : 6.00 %

Standard Deviation

Long Term Plan : 3.43% Short Term Plan : 0.87%

Mr. Maneesh Dangi

Key Features

Plans / Options & NAV

Load Structure (Incl. for SIP)

Other Parameter ` ` ` ` ` `

1.00% if redeemed / switched out within 365 days from the date of allotment

8.39 Years -8.38 Years

Maximum Subscription amount (incl. switch in)

Long Term Plan : ` 5 lacs

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Short Term Plan : Nil

Modified Duration

Long Term Plan : Short Term Plan :

-Mark to -Market

Long Term Plan : 93% Short Term Plan :

-(As on October 29, 2010)

Note:

Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer.

An open-ended Gilt scheme with the objective to provide investors current income consistent with a portfolio invested 100% in securities issued

by the Government of India or the State Governments, and the secondary objective is capital appreciation.

Investment Objective

Birla Sun Life Government Securities Fund

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

% Returns

Birla Sun Life G-Sec Fund - LTP - Growth I-Sec Li-BEX

Investment Performance - Long Term Plan

Rating Profile - Long Term Plan

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Investment Performance - Short Term Plan

Rating Profile - Short Term Plan

% Returns

Birla Sun Life G-Sec Fund - STP - Growth I-Sec Si-BEX

Issuer % to Net Rating Assets

Issuer % to Net Rating Assets

Government Bond 93.12

07.80% CGL 2020 59.51 Sovereign 07.99% CGL 2017 24.15 Sovereign 8.08% GOI 02Aug 2022 9.47 Sovereign

Cash & Current Assets 6.88

Total Net Assets 100.00

Cash & Current Assets 100.00

Total Net Assets 100.00

Portfolio & Asset Allocation - Long Term Plan

Portfolio & Asset Allocation - Short Term Plan

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Value Research Rating

Birla Sun Life Government Securities Fund - Long Term Plan

Gilt: Medium & Long Term (33 Schemes), 18 months & 3 years ended 31-Oct-10 (Past performance is no guarantee of future results.) for ranking methodology please refer page 53

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100.00% Cash & Current Assets

6.88%

93.12%

Cash & Current Assets Sovereign 9.32 10.50 8.02 9.68 5.41 7.94 7.17 0 2 4 6 8 10 12

1 Year 3 Years 5 Years Since Inception

4.74 4.23 4.94 5.85 5.38 7.97 7.47 0 1 2 3 4 5 6 7 8 9

(13)

Fund Details

Investment Objective

As on October 31, 2010

Birla Sun Life Enhanced Arbitrage Fund

Fund Manager : Mr. Hemang Dagli

Managing Fund Since : Since Inception

Total Experience : 12 years

Date of inception : July 24, 2009

Nature of the scheme : A open-ended Equity Scheme

Default option : Default Plan: Retail Plan

Default Facility: Dividend Reinvestment Retail Plan Fresh Purchase : ` 5000/-Additional Purchase : ` 1000/-Institutional Plan Fresh Purchase : ` 5,00,00,000/-Additional Purchase : `

10000/-Redemption Cheques : Within 10 working days issued

Systematic Investment : Available

Plan (SIP)

Systematic Withdrawal : Available

Plan (SWP)

Systematic Transfer : Available

Plan (STP)

Retail Plan

Dividend : 10.2504

(Payout & Reinvestment & Sweep)

Growth : 10.4963

Institutional Plan

Dividend :

-(Payout & Reinvestment & Sweep)

Growth :

-Benchmark : Crisil Liquid Fund Index

Average AUM : ` 4.31 Crores

Entry Load : Nill

Exit Load** : For Redemption / Switch-out of

units before 90 days from the date of allotment: 0.75%. For Redemption/Switch-out of units on or after 90 days but before 180 days from the date of allotment: 0.50%. For Redemption/Switch-out of units on or after 180 days from the date of allotment: Nil

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Key Features

Plans / Options & NAV (As on October 29, 2010)

Load Structure (Incl for SIP)

Portfolio & Asset Allocation

Issuer % to Net

Assets Issuer % to Net Assets

Banks 18.39

ICICI Bank Ltd. 9.48

Dena Bank 8.91

Consumer Non Durables 18.27

United Spirits Ltd. 9.14

Asian Paints Ltd. 9.13

Construction Project 16.57

Lanco Infratech Ltd. 9.01 GMR Infrastructure Ltd. 7.56

Telecom - Equipment & Accessories 8.49

GTL Ltd. 8.49

Transportation 8.41

Mercator Lines Ltd. 8.41

Telecom-Services 4.42

Bharti Airtel Ltd. 4.42

Future and Options -75.04

Bharti Airtel Ltd Futures Nov 2010 -4.44 GMR Infrastructure Ltd Futures Nov 2010 -7.64 Mercator Lines Ltd. Futures Nov 2010 -8.48 GTL Ltd. Futures Nov 2010 -8.58 Dena Bank Futures Nov 2010 -9.00 Lanco Infratech Ltd. Futures Nov 2010 -9.07 Asian Paints Ltd Futures Nov 2010 -9.14 United Spirits Ltd Futures Nov 2010 -9.19 ICICI Bank Ltd. Futures Nov 2010 -9.51

Cash & Cash Equivalents 22.81

Net receivables / payables 77.68

Total Net Assets 100.00

Investment Performance

An Open ended Equity Scheme with an investment objective to generate income by investing predominantly in equity and equity related

instruments. Scheme intends to take advantage from the price differentials / mis-pricing prevailing for stock / index in various market segments

(Cash & Futures).

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Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Birla Sun Life Enhanced Arbitrage Fund Retail - Growth Crisil Liquid Fund Index

% Returns

3.65

3.93

4.33

4.01

0

1

2

3

4

5

(14)

Fund Details

Birla Sun Life Monthly Income

An open-ended scheme. Monthly income is not assured and is subject

to availability of distributable surplus

As on October 31, 2010

Investment Style Box

High Mid Low Interest rate sensitivity

High Mid Low Credit Quality Fund Manager : Mr. Nishit Dholakia

Managing Fund Since : June 18, 2009

Total Experience : 12 years & 10 years

Date of inception : July 14, 1999

Nature of the scheme : An Open-ended Income Scheme

Default Plan / Option : Growth / Dividend Reinvestment

For Monthly & Quarterly Dividend

Fresh Purchase : 25000/-Additional Purchase :

5000/-For Growth Plan

Fresh Purchase : 5000/-Additional Purchase :

1000/-Redemption Cheques : Within 10 working days

issued

Monthly Dividend : 11.4925

(Payout, Reinvestment & Sweep Option)

Quarterly Dividend : 12.0011

(Payout, Reinvestment & Sweep Option)

Growth : 36.1186

Benchmark : CRISIL MIP Blended Index

Average AUM : 677.53 Crores

Entry Load : Nil

Exit Load** : 1.00% if redeemed / switched out

within 365 days from the date of allotment

**Exit Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average Maturity : 1.08 Years

Yield to Maturity : 7.50%

(for Debt Component)

Mark to Market : 86%

Standard Deviation : 7.86%

##

Sharpe Ratio : 0.21

Mr. Satyabrata Mohanty &

Key Features

Plans / Options & NAV

Load Structure Other Parameter ` ` ` ` `

Modified Duration : 1.06 Years

(As on October 29, 2010)

An open-ended income scheme with the primary investment objective to generate regular income so as to make monthly and quarterly

distributions to Unit holders and the secondary objective as growth of capital. Monthly income is not assured and is subject to availability of

distributable surplus

Investment Objective

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

% Returns

Investment Performance

Rating Profile

Birla Sun Life Monthly Income - Growth Crisil MIP Blended Index

Debt Allocation 74.12

Equity Allocation 13.39

Money Market Instruments 46.27

Punjab National Bank 12.67 PR1+

Bank of Baroda 9.78 A1+

Central Bank of India 7.11 PR1+

HDFC Bank Ltd. 6.26 A1+

L&T Finance Ltd. 3.57 PR1+

Corporation Bank 3.50 P1+

Canara Bank 2.12 P1+

Oriental Bank of Commerce 1.27 P1+

Corporate Debt 23.95

Sundaram Finance Ltd.** 7.04 LAA+ Reliance Ports & Terminals Ltd.** 4.33 AAA ICICI Home Finance Company Ltd.** 4.30 LAAA Reliance Utilities & Power Pvt. Ltd.** 3.56 AAA(SO) Aditya Birla Nuvo Ltd.** 3.54 LAA+ LIC Housing Finance Ltd.** 0.77 AAA

IDFC Ltd.** 0.29 AA+

HDFC Ltd.** 0.12 AAA

Government Bond 3.50

07.80% CGL 2020 3.50 Sovereign

PSU/PFI Bonds/Banks 0.40

IDBI Bank Ltd.** 0.38 AA+

Power Finance Corporation Ltd.** 0.01 AAA

Banks 2.24

Allahabad Bank 0.60

IndusInd Bank Ltd. 0.57

ICICI Bank Ltd. 0.42

Oriental Bank of Commerce 0.36 The South Indian Bank Ltd. 0.30

Consumer Non Durables 1.69

Bajaj Corp Ltd. 0.59

Asian Paints Ltd. 0.38 Akzo Nobel India Ltd. 0.37 Glaxosmithkline Consumer Healthcare Ltd. 0.35

Finance 1.26

Shriram Transport Finance Company Ltd. 0.33 Mahindra & Mahindra Financial Services Ltd. 0.32 Power Finance Corporation Ltd. 0.31 LIC Housing Finance Ltd. 0.31

Industrial Products 1.07

Cummins (India) Ltd. 0.61 Greaves Cotton Ltd. 0.46

Software 0.88

Tata Consultancy Services Ltd. 0.44 Infosys Technologies Ltd. 0.30 HCL Technologies Ltd. 0.14

Pesticides 0.60

Rallis India Ltd. 0.60

Auto 0.60

Mahindra & Mahindra Ltd. 0.30 Ashok Leyland Ltd. 0.30

Consumer Durables 0.54

Blue Star Ltd. 0.29

Bajaj Electricals Ltd. 0.25

Auto Ancillaries 0.53

Phillips Carbon Black Ltd. 0.26 Motherson Sumi Systems Ltd. 0.26

Fertilisers 0.51

Coromandel International Ltd. 0.51

Oil 0.47

Oil & Natural Gas Corporation Ltd. 0.47

Paper 0.38

Ballarpur Industries Ltd. 0.38

Media & Entertainment 0.33

Jagran Prakashan Ltd. 0.23 Hindustan Media Ventures Ltd. 0.11 Magnasound India Ltd. ** #

Industrial Capital Goods 0.31

Thermax Ltd. 0.31

Gas 0.31

Indraprastha Gas Ltd. 0.31

Transportation 0.30

The Great Eastern Shipping Company Ltd. 0.30

Pharmaceuticals 0.29

Wyeth Ltd. 0.29

Minerals/Mining 0.27

Nava Bharat Ventures Ltd. 0.27

Engineering Services 0.21

VA Tech Wabag Ltd. 0.21

Hotels 0.16

Taj GVK Hotels & Resorts Ltd. 0.16

Power 0.16

Gujarat Industries Power Company Ltd. 0.16

Construction Project 0.15

Voltas Ltd. 0.15

Petroleum Products 0.12

Castrol India Ltd. 0.12

Cash & Current Assets 12.49

Total Net Assets 100.00

Issuer % to Net Rating Assets

Issuer % to Net Rating Assets

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 24.34%

#

Indicates less than 0.01

Portfolio & Asset Allocation

(Past performance is no guarantee of future results.) for ranking methodology please refer page 53

Note:

Standard Deviation & Sharpe Ratio are calculated on Annualised basis using 3 year history of monthly returns, source: MFI Explorer.

##Risk-free rate assumed to be 6.80% (91 day T-bill yield As on October 29, 2010).

MIP Conservative Scheme (12 Schemes), 2 years ended 30-Sep-10

Birla Sun Life Monthly Income

CRISIL~CPR 1^^

Re

gu

lar

Income

So

lut

ion

s

i

i

i

i

Value Research Rating

#

Birla Sun Life Monthly Income

Hybrid: Monthly Income (45 Schemes),for 3 & 5 years periods ended 31-Oct-10 9.57 8.46 10.51 12.03 8.56 5.97 8.29 0 2 4 6 8 10 12 14

1 Year 3 Years 5 Years Since Inception

3.50% 11.25% 12.49% 13.39% 59.37% Sovereign AA Cash & Current Assets Other AAA

Figure

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References

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