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J U L Y 2 0 0 6
MAKE YOUR DREAMS
STEP BY STEP APPROACH.COME TRUE WITH A
2
J u l y 2 0 0 6
Our Investment Team(In alphabetical order):
A. Balasubramanian
Chief Investment Officer
Abhijit Sarkar
Portfolio Manager-Privileged Account Service
Ajay Argal
Senior Fund Manager-Equity
Ajay Garg
Trader
Ankit Sancheti
Research Analyst / Secondary Fund Manager
Atul Penkar
Research Analyst-Equity
Gaurav Kapur
Research Analyst-Equity
Jayesh Gandhi
Fund Manager-Equity
Lokesh Mallya
Credit Analyst-Fixed Income
Mahesh Patil
Fund Manager-Equity
Maneesh Dangi
Fund Manager-Fixed Income
Navneet Munot
CIO-Fixed Income, Hybrid Funds
Nishit Dholakia
Research Analyst / Secondary Fund Manager
Satyabrata Mohanty
Fund Manager-Fixed Income
Sharad Ramnarayanan
Research Analyst / Secondary Fund Manager
Sujit Patki
Dealer-Equity
Sunaina da Cunha
Credit Analyst-Fixed Income
Sweta Thakur
Research Analyst-Equity
CONTENTS
Market Outlook 3
Birla Advantage Fund 4
Birla Dividend Yield Plus 5
Birla Midcap Fund 6
Birla MNC Fund 7
Birla IndiaOpportunities Fund 8
Birla India GenNext Fund 9
Birla Index Fund 10
Birla Infrastructure Fund 11
Birla Equity Plan 12
Birla Top 100 Fund 13
Birla Sun Life Buy India Fund 14
Birla Sun Life New Millennium Fund 15
Birla Sun Life Basic Industries Fund 16
Birla Sun Life Frontline Equity Fund 17
Birla Sun Life Equity Fund 18
Birla Sun Life Tax Relief '96 19
Birla Balance 20
Birla Sun Life '95 Fund 21
Birla MIP 22
Birla MIP II - Savings 5 Plan 23
Birla MIP II - Wealth 25 Plan 24
Birla Sun Life Monthly Income 25
Birla Income Plus 26
Birla Sun Life Income Fund 27
Birla Gilt Plus 28
Birla Sun Life Government Securities Fund 29
Birla Bond Plus 30
Birla Sun Life Short Term Fund 31
Birla Floating Rate Fund 32
Birla Cash Plus 33
Birla Sun Life Cash Manager 34
Birla Asset Allocation Fund 35
India Advantage Fund 36
Addendums 37
Methodology of ranking 37
Dividend History 38-39
EQ
UI
TY
DE
BT
3
Market OutlookJ u l y 2 0 0 6
EQUITY MARKETIn the last month's equity outlook, we had noted that the reversal in global risk appetite on the back of concerns of inflation and interest rates would result in a sell-off across emerging markets and commodity markets. Indeed, Indian equities have corrected 15.9% since their May 10th highs despite being up 2.03% in the month of June. However, while this correction is serious by most standards, it barely makes a dent in the stellar out performance of the Indian equity market in the past three years, which has added roughly Rs. 12126 bn in investor wealth in the same time period. While India cannot remain insulated from continued turbulence in global asset markets, we believe that there are more powerful factors at play such as favorable demographics, strong trends in income generation and consumption, rising outsourcing, investment cycle upturn and a trickle down to the rural sector that will help sustain our growth momentum. There is some concern on the macro-economic situation especially due to the widening of the current account deficit. Exports in May grew 29.6% to US$9.3 bn, while imports rose 21.6% to US$13.1 bn, led by oil (+28.3%) and non-oil (+18.3%). At the end of FY06, the Current Account Deficit/ GDP ratio was at 1.3%, which is not high for a growth economy. Further, besides oil, this deficit is largely on account of imports of capital goods and industrial inputs, which is in fact a positive indicator given that India has moved to a higher growth trajectory. During the month, the growth in domestic consumption was visible through the positive trends in indicators such as passenger car sales (up 25.8% yoy in May 2006) and cellular subscribers (up 4.4% month-on-month in May 2006).Another concern is the possible slowdown of economic growth in a rising rate environment. The market seems to be taking a cue from the recent commentary by the Fed and expecting a pause in the benchmark US interest rate hike. We believe that even in the event of some downward pressure, India Inc.'s FY07 earnings growth should remain in the 15-20% range due to high visibility in the sectors that are not very sensitive to interest rates in the near future consumer goods, IT services, telecom and utilities. Industrial growth has averaged 8% over FY06 and accelerated to 9.5% yoy in April 2006, with the evidence of the unfolding capex cycle reflected in the up-trend in cement dispatches (up 12.8% yoy in May 2006), steel and capital goods production (which was up 25% yoy in April 2006). This capex is driven by immediate needs as we are at high utilization levels. The infrastructure investment pipeline is robust with an estimated Rs. 14 trillion to be deployed through FY07-FY12E. Moreover, we draw comfort from the fact that both the Indian consumer and corporate sectors are less leveraged than those in other countries. In fact, the total Loan/ GDP ratio is only 40%. There is no doubt that FII activity has assumed growing significance in recent years, with its contribution increasing to 20% of market turnover. Even with the recent outflows, FII holdings are estimated at US$102 bn (Source: Bloomberg). FIIs were also net buyers (+US$289 mn) in June, even as domestic mutual funds were net sellers to the tune of US$520 mn. In fact, India has been the only major Asian emerging capital market to witness positive FII flows in June, with the MSCI India Index up 1.7% vs. a loss of 0.6% in MSCI Asia Index (ex-Japan). However, even if flows were to dwindle, our foreign exchange reserves of US$162 bn coupled with positive external debt indicators should be sufficient to tide over any financial market volatility. Our markets are now less vulnerable to F&O activity, with total F&O open interest down from US$12.6 bn to US$6.2 bn. Investors should look beyond the current market anxiety since our macro and micro fundamentals are intact. While continual rebalancing of asset allocation is healthy and warranted, we note that equity as an asset class has served investors extremely well in the long term. The Indian equity markets are diversified, with high RoE compared to other emerging economies. Further, given the current valuations and outlook, the prevalent volatility, while uncomfortable in the near term, provides a classic long-term buying opportunity for rational investors. We would be looking ahead to the upcoming earnings season and monsoon performance to provide us with short-term cues.
In June, heightened inflationary pressures and an unexpected hike in the repo rate by the RBI caused persistent selling pressure in the market. The yield on the benchmark 10-year government security rose to 8.14% from its previous close of 7.65%. At the beginning of the month, the Government hiked petrol (Rs. 4.00 per litre) and diesel (Rs. 2.00 per litre) prices. Headline inflation rose 5.44% y-o-y, up from 5.24% previously due to higher food, energy and mineral prices. Rise in primary articles prices contributed more than 50% to the inflation in the last 2 months. Simple statistical analysis shows that even a moderate increase in the Wholesale Price Index (around 4%) may take year-end headline inflation number to 6.50%.In line with market expectations, FOMC increased the Fed rate by 25 bps to 5.25%. They acknowledged the possibilities of economic expansion slowing down, the risk of higher inflation, and that a further rate hike would be data dependent. US treasury yields remained stable after the rate hike and the yield curve has slightly inverted. Central bankers of other emerging markets, e.g. South Korea, Thailand, South Africa, all increased their benchmark rates, citing inflation as a primary risk to their respective economies.While the market expected a petro price increase, RBI's move to hike rates in June came as surprise. Probably the central bank did a pre-emptive hike to ward off inflationary pressures and also to align domestic rates to global rates. We had expected a rate hike in the April credit policy, but the central bank chose to remain neutral on short-term rates at that time. We had observed that RBI was falling behind the curve by not increasing the rates. A rate hike was very much necessary, however, the surprise inter-meeting move by RBI has caused a loss-of- faith in the bond market. Too many surprises and too few opportunities have marred the sentiments on the bond street. Volumes dropped to a multi-year low, and are likely to remain so till the policy in July. Indian industry's growth at 9.5% in April-06 was very encouraging and assured that rapid economic expansion is on its way in our country. Indian equities also rose in line with the other emerging markets. However, there was consistent pressure on INR, as Dollar appreciated against all the major currencies. Domestically, there were concerns that higher-than-expected spending could lead to more borrowings than budgeted. Central government also ran Ways and Means (WMA) deficit for three consecutive weeks in last two months. Fiscal deficit between April and May was INR 720 bn, 48% of the budgetary estimate for entire FY07. (it was 30% in the first two months of FY06). Bond Street panicked when central government decided to borrow additional INR 40 billion by auctioning an 8-year security. The Finance Ministry official's comments that the increased borrowing was essentially a pre-ponement of the future supply failed to enthuse the market. Liquidity conditions were comfortable as the surplus funds parked with the RBI at the LAF reverse repo remained robust on account of increased government spending. Daily average subscriptions at the reverse repo auction stood around Rs. 49,500 crore. The hike in the repo rate got transmitted across the yield curve and interest rates moved up by 25/50 bps across tenors. The 90-day commercial paper reference rate rose to 6.90% from 6.55% and yield on 90-day T-bill rose to 6.35% from 5.85%Bond markets are likely to remain volatile in the run-up to the July policy review. We are expecting RBI to hike the interest rates in July policy, but in the backdrop of surprises given in earlier policies, a no-rate-hike scenario cannot be ruled out. Market is also assigning a high probability to Japan hiking the interest rates in July. Fed futures are assigning a 50% probability to Aug rate hike by FOMC. Europe's leading indicators have started surprising on the positive side and another hike by ECB is likely. Global bond markets would gyrate to the tunes of future data on economic expansion, housing, consumer confidence and inflation that hold the key to the central bankers moves. In view of fears of headline inflation remaining above the comfortable zone of 5-5.50% and further rate hikes by RBI, bond yields are likely to inch up further. We have been maintaining relatively low average maturity across our fixed income funds to hedge against rising rates. We would start building duration in a gradual manner in case interest rates move up from current levels. While we continue to advice remaining invested in short term products, investors with risk appetite and long term horizon should allocate some part of their portfolios to long term funds like Birla Income Plus and Birla Sun Life Income Fund.
DEBT MARKET
4
Software 6833.61 16.16
Infosys Technologies Ltd. 2683.96 6.35
Satyam Computer Services Ltd. 2040.30 4.82
Tata Consultancy Services Ltd. 1091.50 2.58
Subex Systems Ltd. 1017.85 2.41
Consumer Non Durables 4837.83 11.44
I T C Ltd. 1928.93 4.56
Mcdowell & Company Ltd. 1395.47 3.30
Bajaj Hindustan Ltd. 786.71 1.86
Balrampur Chini Mills Ltd. 726.72 1.72
Banks 4794.56 11.34
State Bank of India 2342.23 5.54
ICICI Bank Ltd. 911.14 2.15
UTI Bank Ltd. 808.71 1.91
Punjab National Bank 732.49 1.73
Auto 3582.09 8.47
Tata Motors Ltd. 1796.07 4.25
Hero Honda Motors Ltd. 1786.02 4.22
Industrial Capital Goods 3369.59 7.97
Bharat Heavy Electricals Ltd. 1615.06 3.82
Larsen & Toubro Ltd. 957.80 2.26
Siemens Ltd. 796.73 1.88
Pharmaceuticals 2862.08 6.77
Glaxosmithkline Pharmaceuticals Ltd. 1147.73 2.71
Pfizer Ltd. 1086.79 2.57
Aventis Pharma Ltd. 627.56 1.48
Telecom-Services 2602.53 6.15
Bharti Tele-Ventures Ltd. 2602.53 6.15
Pesticides 2278.07 5.39
United Phosphorous Ltd. 1708.14 4.04
Rallis India Ltd. 569.93 1.35
Cement 2206.05 5.22
The Associated Cement Companies Ltd. 1132.66 2.68
Grasim Industries Ltd. 1063.29 2.51
Dharti Dredging & Construction Ltd. 10.11 0.02
Hotels 2144.32 5.07
Indian Hotels Co. Ltd. 2144.32 5.07
Finance 934.51 2.21
Housing Development Finance Corp. Ltd. 934.51 2.21
Construction 722.02 1.71
Nagarjuna Construction Co. Ltd. 611.16 1.45
Gammon India Ltd. 110.85 0.26
Ferrous Metals 533.30 1.26
Tata Steel Ltd 533.30 1.26
Retailing 398.87 0.94
Pantaloon Retail (India) Ltd. 398.87 0.94
Cash & Current Assets 4189.68 9.91
Net Assets 42289.10 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk through a diversified research based investment approach.
Date of inception / takeover:
February 24, 1995
NAV: Rs.
DividendGrowth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
BSE Sensex
Corpus:
Rs. 422.89 Crores
68.46 95.44
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BAF...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 135
Total Investment 135,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR)
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE Sensex would have given a return of
%
* Dividend Reinvestment NAVs has been considered for the analysis.
Date of First Installment: March 01, 1995
902,164.50
28.57%
16.08
Systematic Investment Plan (SIP)
Birla Advantage FundInvestment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.21%
3.91%
5.07%
5.22%
5.39%
6.15%
6.77%
7.97%
8.47%
9.91%
11.34%
11.44%
16.16%
Finance
Other Equity & Preference
Hotels
Cement
Pesticides
Telecom-Services
Pharmaceuticals
Industrial Capital Goods
Auto
Cash & Current Assets
Banks
Consumer Non Durables
Software
40.79
48.41 47.58
33.48
24.01
47.29 47.6143.31
25.11
10.39
0
10
20
30
40
50
60
1 Year 2 Years 3 Years 5 Years Since InceptionBAF Gr BSE Sensex
Birla Dividend Yield Plus
5
Consumer Non Durables 6703.28 12.15
Hindustan Lever Ltd. 2113.53 3.83
Colgate Palmolive (I) Ltd. 1933.78 3.50
Godrej Consumer Products Ltd. 1225.58 2.22
Nestle India Ltd. 959.90 1.74
Procter & Gamble Hygiene & Health Care Ltd 470.48 0.85
Banks 5092.87 9.23
Andhra Bank 1710.87 3.10
Union Bank of India 1109.61 2.01
Vijaya Bank 923.74 1.67
Allahabad Bank Ltd. 749.43 1.36
Syndicate Bank 550.12 1.00
Indian Overseas Bank 49.11 0.09
Industrial Products 4362.61 7.91
Cummins India Ltd. 2348.32 4.26
ESAB India Ltd. 860.64 1.56
BOC India Ltd. 618.06 1.12
Cosmo Films Ltd. 504.85 0.92
Polyplex Corporation Ltd. 30.74 0.06
Pharmaceuticals 4224.56 7.66
Glaxosmithkline Pharmaceuticals Ltd. 2158.62 3.91
Wyeth Ltd. 2065.94 3.74
Auto 3823.66 6.93
Hero Honda Motors Ltd. 2773.20 5.03
Ashok Leyland Ltd. 1050.45 1.90
Software 3649.84 6.62
HCL Technologies Ltd. 2242.76 4.06
NIIT Technologies Ltd. 1276.52 2.31
Datamatics Technologies Ltd. 130.57 0.24
Ferrous Metals 3599.70 6.52
Steel Authority of India Ltd. 1380.40 2.50
Tata Steel Ltd 1093.80 1.98
Sesa Goa Ltd. 814.21 1.48
Tata Metaliks Ltd. 311.30 0.56
Fertilisers 3337.35 6.05
Tata Chemicals Ltd. 2422.62 4.39
Rashtriya Chemicals & Fertilizers Ltd. 914.72 1.66
Transportation 3250.72 5.89
Great Eastern Shipping Co. Ltd. 2675.50 4.85
Varun Shipping Co. Ltd. 575.22 1.04
Oil 2762.70 5.01
Oil & Natural Gas Corporation Ltd. 2762.70 5.01
Petroleum Products 2074.20 3.76
Indian Oil Corporation Ltd. 1302.22 2.36
Kochi Refineries Ltd. 306.05 0.55
Castrol (India) Ltd. 248.15 0.45
Chennai Petroleum Corporation Ltd. 217.78 0.39
Industrial Capital Goods 1799.78 3.26
Alfa Laval (India) Ltd. 1799.78 3.26
Hardware 1324.56 2.40
HCL Infosystems Ltd. 840.02 1.52
Tata Elxsi Ltd. 484.54 0.88
Gas 1164.44 2.11
GAIL (India) Ltd. 1164.44 2.11
Chemicals 1103.45 2.00
Clariant Chemicals Ltd. 1103.45 2.00
Paper 884.72 1.60
Tamil Nadu Newsprint & Papers Ltd. 884.72 1.60
Telecom-Services 850.30 1.54
Mahanagar Telephone Nigam Ltd. 850.30 1.54
Power 538.56 0.98
NTPC Ltd. 333.15 0.60
Neyveli Lignite Corporation Ltd. 205.41 0.37
Auto Ancillaries 11.81 0.02
Wheels India Ltd. 11.81 0.02
Cash & Current Assets 4615.23 8.36
Net Assets 55174.32 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective to provide capital growth and income by investing primarily in a well-diversified portfolio of dividend paying companies that have a relatively high dividend yield.
Date of inception / takeover:
February 10, 2003
NAV: Rs.
Dividend
Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
CNX 500
Corpus:
Rs. 551.74 Crores
9.98
35.45
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BDYP...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 39
Total Investment 39,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in CNX 500 would have given a return of
%
Date of First Installment: March 01, 2003
80,537.40
36.7
40.07
Systematic Investment Plan (SIP)
Investment Style: Value
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
0
NAV Performance Asset Allocation
2.11%2.40%
3.26%3.76%
5.01%5.89%6.05%6.14%
6.52%6.62%
6.93%7.66%7.91%
8.36%9.23%
12.15%
GasHardware
Industrial Capital GoodsPetroleum Products
OilTransportation
FertilisersOther Equity & Preference
Ferrous MetalsSoftware
AutoPharmaceuticals
Industrial ProductsCash & Current Assets
BanksConsumer Non Durables
19.6
33.07
42.0746.03
34.11
42.07 42.0544.26
0
5
10
15
20
25
30
35
40
45
50
1 Year 2 Years 3 Years Since Inception
BDYP Gr CNX500
Birla Midcap Fund
Transportation 1367.62 10.56
Container Corporation of India Ltd. 717.50 5.54
Great Eastern Shipping Co. Ltd. 650.12 5.02
Industrial Capital Goods 1190.00 9.19
Bharat Electronics Ltd. 535.50 4.13
Thermax Ltd. 330.09 2.55
Crompton Greaves Ltd. 324.42 2.50
Cement 1157.19 8.93
Madras Cements Ltd. 490.80 3.79
Birla Corporation Ltd. 340.61 2.63
Ultratech Cement Ltd. 325.78 2.51
Industrial Products 1078.15 8.32
Kirloskar Oil Engines Ltd. 572.33 4.42
Kirloskar Brothers Ltd 505.83 3.90
Consumer Non Durables 895.46 6.91
Mcdowell & Company Ltd. 341.40 2.64
Glaxo Smithkline Consumer Healthcare Ltd 331.03 2.56
Marico Industries Ltd. 223.03 1.72
Hotels 873.02 6.74
Asian Hotels Ltd. 458.22 3.54
Taj GVK Hotels & Resorts Ltd. 414.80 3.20
Banks 858.29 6.63
Karnataka Bank Ltd 497.06 3.84
Indian Overseas Bank 205.30 1.58
Industrial Development Bank of India Ltd 155.93 1.20
Software 856.59 6.61
Nucleus Software Exports Ltd. 313.69 2.42
Subex Systems Ltd. 280.40 2.16
Mastek Ltd. 262.50 2.03
Pharmaceuticals 764.42 5.90
Pfizer Ltd. 348.91 2.69
Glaxosmithkline Pharmaceuticals Ltd. 259.21 2.00
Wyeth Ltd. 156.30 1.21
Auto Ancillaries 516.48 3.99
Automobile Corporation of Goa Ltd. 482.61 3.73
Rico Auto Industries Ltd. 33.87 0.26
Ferrous Metals 421.92 3.26
Jindal Steel & Power Ltd. 421.92 3.26
Pesticides 391.38 3.02
Rallis India Ltd. 391.38 3.02
Textiles 271.61 2.10
Century Textile & Industries Ltd. 271.61 2.10
Fertilisers 266.38 2.06
Tata Chemicals Ltd. 266.38 2.06
Consumer Durables 250.00 1.93
Voltas Ltd. 250.00 1.93
Auto 204.19 1.58
Mahindra & Mahindra Ltd. 155.29 1.20
TVS Motor Company Ltd. 48.90 0.38
Non - Ferrous Metals 202.90 1.57
Sterlite Industries (India) Ltd. 202.90 1.57
Construction 176.86 1.37
Simplex Concrete Piles (India) Ltd. 117.96 0.91
Hindustan Construction Co. Ltd. 58.90 0.45
Hardware 172.65 1.33
Tata Elxsi Ltd. 172.65 1.33
Corporate Debt 54.92 0.42
Trent Ltd. 54.92 0.42
Cash & Current Assets 984.02 7.60
Net Assets 12954.05 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective to achieve long-term growth of capital at controlled level of risk by primarily investing in midcap stocks.
Date of inception / takeover:
October 16, 2002
NAV: Rs.
Dividend
Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25%³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
CNX Midcap
Corpus:
Rs. 129.54 Crores
19.75
47.68
6
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BMC...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 43
Total Investment 43,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in CNX Midcap would have given a return of
%
Date of First Installment: November 01, 2002
130,575.40
58.39
49.05
Systematic Investment Plan (SIP)
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
#««««Value Research Rating
- Birla Midcap Fund
^^ for methodology please refer page 37
(Past performance is no guarantee of future results.)
CRISIL~CPR 2 Open Ended Equity Category^^
J u l y 2 0 0 6
NAV Performance Asset Allocation
0.42%
2.06%
2.10%
3.02%
3.26%
3.99%
5.90%
6.61%
6.63%
6.74%
6.91%
7.60%
7.77%
8.32%
8.93%
9.19%
10.56%
Corporate Debt
Fertilisers
Textiles
Pesticides
Ferrous Metals
Auto Ancillaries
Pharmaceuticals
Software
Banks
Hotels
Consumer Non Durables
Cash & Current Assets
Other EquityIndustrial Products
Cement
Industrial Capital Goods
Transportation
41.07
50.7954.87
51.79
27.11
42.1744.85
48.43
0
10
20
30
40
50
60
1 Year 2 Years 3 Years Since Inception
BMCF Gr CNX Midcap
Birla MNC Fund
Consumer Non Durables 5000.96 25.50
I T C Ltd. 1275.75 6.51
Hindustan Lever Ltd. 1030.72 5.26
Glaxo Smithkline Consumer Healthcare Ltd 964.40 4.92
Colgate Palmolive (I) Ltd. 583.43 2.98
Nestle India Ltd. 498.08 2.54
Goodlass Nerolac Paints Ltd. 381.44 1.95
Procter & Gamble Hygiene & Health Care Ltd 267.15 1.36
Industrial Products 2565.27 13.08
BOC India Ltd. 1011.77 5.16
Cummins India Ltd. 608.28 3.10
ESAB India Ltd. 298.35 1.52
Fag Bearings India Ltd. 270.86 1.38
Vesuvius India Ltd. 232.95 1.19
KSB Pumps Ltd. 143.06 0.73
Pharmaceuticals 2489.41 12.70
Pfizer Ltd. 697.82 3.56
Fulford (India) Ltd. 609.18 3.11
Glaxosmithkline Pharmaceuticals Ltd. 570.27 2.91
Novartis India Ltd. 351.64 1.79
Wyeth Ltd. 260.50 1.33
Industrial Capital Goods 2044.89 10.43
ABB Ltd. 873.60 4.46
Siemens Ltd. 774.59 3.95
Alstom Projects India Ltd. 396.70 2.02
Auto 1591.54 8.12
Maruti Udyog Ltd. 1116.64 5.69
Hero Honda Motors Ltd. 474.90 2.42
Telecom-Services 925.00 4.72
Bharti Tele-Ventures Ltd. 925.00 4.72
Gas 726.96 3.71
Gujarat Gas Co. Ltd. 726.96 3.71
Auto Ancillaries 686.84 3.50
Sundaram-Clayton Ltd. 686.84 3.50
Cement 640.70 3.27
The Associated Cement Companies Ltd. 391.95 2.00
Gujarat Ambuja Cements Ltd. 248.75 1.27
Ferrous Metals 536.91 2.74
Sesa Goa Ltd. 536.91 2.74
Software 512.26 2.61
Mphasis BFL Ltd. 355.81 1.81
Scandent Solutions Corporation Ltd. 156.45 0.80
Chemicals 332.23 1.69
Micro Inks Ltd 201.15 1.03
Ciba Specialty Chemicals (India) Ltd. 131.08 0.67
Pesticides 270.31 1.38
Syngenta (India) Ltd. 270.31 1.38
Cash & Current Assets 1286.00 6.56
Net Assets 19609.27 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk by making investments in securities of multi-national companies through a research based investment approach.
Date of inception / takeover:
December 27, 1999
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load:
< Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
CNX MNC
Corpus:
Rs. 196.09 Crores
49.97 99.67
7
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BMNC...
Monthly Investment 1,000
Number of Investment periods (Since takeover) 77
Total Investment 77,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in CNX MNC would have given a return of
%
Date of First Installment: January 01, 2000
250,708.10
31.59
21.48
Systematic Investment Plan (SIP)
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.61%
2.74%
3.07%
3.27%
3.50%
3.71%
4.72%
6.56%
8.12%
10.43%
12.70%
13.08%
25.50%
Software
Ferrous Metals
Other Equity
Cement
Auto Ancillaries
Gas
Telecom-Services
Cash & Current Assets
Auto
Industrial Capital Goods
Pharmaceuticals
Industrial Products
Consumer Non Durables
34.89
41.7845.32
32.18
16.87
10.63
45.41
31.43
17.72
7.88
0
5
10
15
20
25
30
35
40
45
50
1 Year 2 Years 3 Years 5 Years Since Inception
BMNCF Gr CNX MNC
Birla India Opportunities Fund
Software 3485.44 40.11
Infosys Technologies Ltd. 763.14 8.78
Mastek Ltd. 550.78 6.34
Tata Consultancy Services Ltd. 482.74 5.56
Nucleus Software Exports Ltd. 435.15 5.01
Satyam Computer Services Ltd. 421.15 4.85
Subex Systems Ltd. 353.23 4.06
Wipro Ltd. 333.94 3.84
Allsec Technologies Ltd. 145.32 1.67
Industrial Capital Goods 1857.82 21.38
Crompton Greaves Ltd. 590.96 6.80
Thermax Ltd. 534.07 6.15
Siemens Ltd. 473.61 5.45
ABB Ltd. 259.18 2.98
Pharmaceuticals 574.87 6.62
Aventis Pharma Ltd. 254.78 2.93
Cipla Ltd. 178.04 2.05
Torrent Pharmaceuticals Ltd. 137.66 1.58
Wockhardt Ltd. 4.39 0.05
Auto Ancillaries 524.99 6.04
Sundaram Fasteners Ltd. 346.69 3.99
Sundaram-Clayton Ltd. 127.19 1.46
Omax Autos Ltd. 51.11 0.59
Pesticides 417.57 4.81
United Phosphorous Ltd. 417.57 4.81
Industrial Products 388.50 4.47
Bharat Forge Ltd. 198.45 2.28
Cummins India Ltd. 190.05 2.19
Consumer Non Durables 258.01 2.97
Macmillan India Ltd. 132.63 1.53
SPL Industries Ltd. 125.38 1.44
Textile Products 211.33 2.43
Raymond Ltd. 211.33 2.43
Hardware 128.94 1.48
Tata Elxsi Ltd. 128.94 1.48
Cash & Current Assets 842.23 9.69
Net Assets 8689.71 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective to achieve superior long-term growth of capital by investing in shares of companies that do one or more of the following: Leverage India's intellectual capital for providing services, research and creative inputs; Seek to use current and impending changes in patent laws / import tariffs / quotas to supply goods and services; Leverage India's lower labour costs for providing services and manufactured goods; Leverage India's large population of English speaking people for providing services.
Date of inception / takeover:
December 27, 1999
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: 1% if redeemed/ switched out within 6 months from the date of allotment
Benchmark:
CNX 500
Corpus:
Rs. 86.89 Crores
16.88 39.31
8
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BIOF...
Monthly Investment 1,000
Number of Investment periods (Since takeover) 77
Total Investment 77,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in CNX 500 would have given a return of
%
Date of First Installment: January 01, 2000
233,899.00
30.84
28.57
Systematic Investment Plan (SIP)
Investment Style: Value + Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
1.48%
2.43%
2.97%
4.47%
4.81%
6.04%
6.62%
9.69%
21.38%
40.11%
Other Equity
Textile Products
Consumer Non Durables
Industrial Products
Pesticides
Auto Ancillaries
Pharmaceuticals
Cash & Current Assets
Industrial Capital Goods
Software
35.5
40.342.96
36.7
8.08
34.11
42.07 42.05
28.66
13.06
0
5
10
15
20
25
30
35
40
45
50
1 Year 2 Years 3 Years 5 Years Since InceptionBirla India Opportunities Fund Gr CNX500
Birla India GenNext Fund
Consumer Non Durables 8059.38 31.11
I T C Ltd. 1640.25 6.33
Hindustan Lever Ltd. 1374.60 5.31
Mcdowell & Company Ltd. 1126.62 4.35
Asian Paints (India) Ltd. 859.75 3.32
Glaxo Smithkline Consumer Healthcare Ltd 751.31 2.90
Heritage Foods (India) Ltd. 724.91 2.80
Kajaria Ceramics Ltd. 701.97 2.71
E.I.D. Parry (India) Ltd. 603.52 2.33
Eveready Industries India Ltd. 276.45 1.07
Auto 3446.55 13.30
Maruti Udyog Ltd. 1619.13 6.25
Bajaj Auto Ltd. 1231.58 4.75
Tata Motors Ltd. 595.84 2.30
Hotels 2318.10 8.95
Taj GVK Hotels & Resorts Ltd. 1174.75 4.53
Indian Hotels Co. Ltd. 1143.35 4.41
Banks 2270.34 8.76
ICICI Bank Ltd. 828.58 3.20
Kotak Mahindra Bank Ltd. 632.02 2.44
UTI Bank Ltd. 578.74 2.23
Industrial Development Bank of India Ltd 231.00 0.89
Telecom-Services 2198.30 8.48
Bharti Tele-Ventures Ltd. 1202.50 4.64
Reliance Comm. Ventures Ltd . 995.80 3.84
Pharmaceuticals 2191.16 8.46
Pfizer Ltd. 814.12 3.14
Glaxosmithkline Pharmaceuticals Ltd. 725.80 2.80
Wyeth Ltd. 651.25 2.51
Power 1486.70 5.74
Tata Power Co. Ltd. 960.20 3.71
Reliance Energy Ltd 272.25 1.05
Reliance Energy Ventures Ltd. 254.25 0.98
Finance 904.00 3.49
Housing Development Finance Corp. Ltd. 904.00 3.49
Media & Entertainment 792.58 3.06
Television 18 (India) Ltd. 540.66 2.09
Inox Leisure Ltd. 251.92 0.97
Retailing 765.47 2.95
Trent Ltd. 765.47 2.95
Textile Products 588.34 2.27
Raymond Ltd. 588.34 2.27
Cash & Current Assets 888.32 3.43
Net Assets 25909.23 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective to target growth of capital by investing in equity/equity related instruments of companies that are expected to benefit from the rising consumption patterns in India, which in turn is getting fuelled by high disposable incomes of the young generation (Generation Next). The scheme will invest in companies that have the following characteristics: 1. Companies that seek growth in revenues arising out of demand from the younger generation (GenNext) for their products or services. 2. They should be engaged in manufacturing of products or rendering of services that go directly to the consumer. 3. The products and services should have distinct brand identity, thereby enabling choice.
Date of inception / takeover:
August 05, 2005
NAV: Rs.
DividendGrowth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
S&P CNX NIFTY
Corpus:
Rs. 259.09 Crores
11.43 11.44
9
Issuer Market Value % to NetRs. in. Lacs Assets
Investment Style: Value + Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
Birla Gen Next Fund - Growth S&P Nifty 2.27%
2.95%
3.06%
3.43%
3.49%
5.74%
8.46%
8.48%
8.76%
8.95%
13.30%
31.11%
Textile Products
Retailing
Media & Entertainment
Cash & Current Assets
Finance
Power
Pharmaceuticals
Telecom-Services
Banks
Hotels
Auto
Consumer Non Durables
Since Inception
15.98
36.62
0
5
10
15
20
25
30
35
40
Birla Index Fund
Software 134.56 16.73Infosys Technologies Ltd. 40.49 5.04Tata Consultancy Services Ltd. 40.43 5.03Wipro Ltd. 34.90 4.34Satyam Computer Services Ltd. 11.00 1.37HCL Technologies Ltd. 7.75 0.96
Petroleum Products 78.75 9.79Reliance Industries Ltd. 70.18 8.73Bharat Petroleum Corporation Ltd. 4.77 0.59Hindustan Petroleum Corporation Ltd. 3.80 0.47
Oil 75.08 9.34Oil and Natural Gas Corporation Ltd. 75.08 9.34
Industrial Capital Goods 63.86 7.94Bharat Heavy Electricals Ltd. 22.67 2.82Larsen & Toubro Ltd. 14.82 1.84Suzlon Energy Ltd. 14.23 1.77Siemens Ltd. 7.11 0.88ABB Ltd. 5.03 0.63
Consumer Non Durables 62.47 7.77I T C Ltd. 32.55 4.05Hindustan Lever Ltd. 24.00 2.99Dabur India Ltd. 3.88 0.48Tata Tea Ltd. 2.04 0.25
Banks 57.65 7.17ICICI Bank Ltd. 20.67 2.57State Bank of India 18.20 2.26HDFC Bank Ltd. 11.87 1.48Punjab National Bank 4.88 0.61Oriental Bank Of Commerce 2.04 0.25
Auto 53.36 6.64Tata Motors Ltd. 14.47 1.80Bajaj Auto Ltd. 13.22 1.64Maruti Udyog Ltd. 10.94 1.36Hero Honda Motors Ltd. 7.53 0.94Mahindra & Mahindra Ltd. 7.21 0.90
Telecom-Services 43.38 5.39Bharti Tele-Ventures Ltd. 33.32 4.14Videsh Sanchar Nigam Ltd. 5.42 0.67Mahanagar Telephone Nigam Ltd. 4.64 0.58
Pharmaceuticals 30.05 3.74Cipla Ltd. 7.98 0.99Sun Pharmaceutical Industries Ltd. 6.96 0.87Ranbaxy Laboratories Ltd. 6.31 0.78Dr. Reddys Laboratories Ltd. 4.62 0.57GlaxoSmithKline Pharmaceuticals Ltd. 4.18 0.52
Ferrous Metals 29.98 3.73Steel Authority of India Ltd. 15.95 1.98Tata Steel Ltd. 14.03 1.75
Cement 21.79 2.71Grasim Industries Ltd. 8.44 1.05The Associated Cement Companies Ltd. 6.96 0.87Gujarat Ambuja Cements Ltd. 6.39 0.79
Non-Ferrous Metals 16.61 2.07Hindalco Industries Ltd. 9.67 1.20National Aluminium Company Ltd. 6.94 0.86
Finance 13.52 1.68Housing Development Finance Corp. Ltd. 13.52 1.68
Gas 10.33 1.28GAIL India Ltd. 10.33 1.28
Power 8.88 1.10Tata Power Co. Ltd. 4.54 0.56Reliance Energy Ltd. 4.35 0.54
Media & Entertainment 4.74 0.59Zee Telefilms Ltd. 4.74 0.59
Chemicals 3.11 0.39Indian Petrochemicals Corporation Ltd. 3.11 0.39
Transportation 2.42 0.30Jet Airways (India) Ltd. 2.42 0.30
Cash & Current Assets 93.57 11.64
Net Assets 804.13 100.00
Total outstanding exposure in derivatives as on 30 June, 2006 is Rs. 0.03 Crores (Notional value).
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended index-linked growth scheme with the objective to generate returns commensurate with the performance of Nifty subject to tracking errors.
Date of inception / takeover:
September 17, 2002
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: NilExit Load: 1% if redeemed / switched out within 3 months from date of allotment.
Benchmark:
S & P CNX Nifty
Corpus:
Rs. 8.04 Crores
17.7781 32.1425
10
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BIF...
Monthly Investment 1,000
Number of Investment periods (Since takeover) 44
Total Investment 44,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in S & P Nifty would have given a return of %
Date of First Installment: October 1, 2002
96,938.50
36.38
36.7
Systematic Investment Plan (SIP)
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.07%
2.71%
3.73%
3.74%
5.35%
5.39%
6.64%
7.17%
7.77%
7.94%
9.34%
9.79%
11.64%
16.73%
Non-Ferrous Metals
Cement
Ferrous Metals
Pharmaceuticals
Other Equity
Telecom-Services
Auto
Banks
Consumer Non Durables
Industrial Capital Goods
Oil
Petroleum Products
Cash & Current Assets
Software
39.9543.64
39.9536.15
41.56 42.7240.38
35.77
0
5
10
15
20
25
30
35
40
45
50
1 Year 2 Years 3 Years Since Inception
BIF S&P Nifty
Birla Infrastructure Fund
Industrial Capital Goods 15236.97 27.72Siemens Ltd. 2993.25 5.45Bharat Heavy Electricals Ltd. 2420.29 4.40Crompton Greaves Ltd. 2210.81 4.02Larsen & Toubro Ltd. 2132.52 3.88Thermax Ltd. 1906.82 3.47Bharat Electronics Ltd. 1499.40 2.73Bharat Earth Movers Ltd. 529.97 0.96Engineers India Ltd. 523.36 0.95Bharati Shipyard Ltd. 411.12 0.75Jyoti Structures Ltd 295.81 0.54Emco Ltd. 215.15 0.39Alstom Projects India Ltd. 63.80 0.12ABB Ltd. 34.67 0.06
Banks 4457.59 8.11State Bank of India 1823.59 3.32Punjab National Bank 875.08 1.59Bank Of India 611.40 1.11Oriental Bank of Commerce 611.38 1.11ICICI Bank Ltd. 536.14 0.98
Industrial Products 4212.56 7.67Cummins India Ltd. 2149.14 3.91Kirloskar Oil Engines Ltd. 1047.11 1.91Greaves Cotton Ltd. 680.83 1.24Torrent Cables Ltd. 335.48 0.61
Auto 4063.06 7.39Tata Motors Ltd. 2361.11 4.30Mahindra & Mahindra Ltd. 1701.95 3.10
Cement 3829.85 6.97Grasim Industries Ltd. 1881.63 3.42Birla Corporation Ltd. 1040.68 1.89Gujarat Ambuja Cements Ltd. 597.00 1.09Shree Cements Ltd. 310.54 0.57
Construction 3050.26 5.55Mahindra Gesco Corporation Ltd. 1078.99 1.96Jaiprakash Associates Ltd. 1044.50 1.90Nagarjuna Construction Co. Ltd. 578.45 1.05Gammon India Ltd. 267.83 0.49Hindustan Construction Co. Ltd. 80.50 0.15
Telecom-Services 2663.38 4.85Bharti Tele-Ventures Ltd. 1820.40 3.31
Mahanagar Telephone Nigam Ltd. 783.82 1.43Videsh Sanchar Nigam Ltd 59.16 0.11
Transportation 2113.22 3.85Great Eastern Shipping Co. Ltd. 1429.50 2.60Container Corporation of India Ltd. 683.72 1.24
Non - Ferrous Metals 2030.06 3.69Hindalco Industries Ltd. 1212.53 2.21Sterlite Industries (India) Ltd. 547.83 1.00Hindalco Industries Ltd.- Rights Shares 269.70 0.49
Hotels 1890.13 3.44Indian Hotels Co. Ltd. 1223.38 2.23Taj GVK Hotels & Resorts Ltd. 666.75 1.21
Ferrous Metals 1873.56 3.41Tata Steel Ltd 962.03 1.75Jindal Steel & Power Ltd. 911.53 1.66
Power 1138.38 2.07Reliance Energy Ltd 584.88 1.06NTPC Ltd. 333.15 0.61Reliance Energy Ventures Ltd. 220.35 0.40
Oil 1030.49 1.88Oil & Natural Gas Corporation Ltd. 1030.49 1.88
Gas 920.33 1.67Gujarat Gas Co. Ltd. 920.33 1.67
Finance 1075.58 1.96Housing Development Finance Corp. Ltd. 678.00 1.23Jindal South West Holdings Ltd 397.58 0.72
Consumer Durables 314.54 0.57Voltas Ltd. 314.54 0.57
Textiles 89.50 0.16Century Textile & Industries Ltd. 89.50 0.16
Cash & Current Assets 4968.23 9.04
Net Assets 54957.71 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An open-end growth scheme with the objective to providing for medium to long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of companies that are participating in the growth and development of Infrastructure in India.
Date of inception / takeover:
March 17, 2006
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: 1% if redeemed / switched-out within 6 months from the date of allotment.
Benchmark:
S&P CNX NIFTY
Corpus:
Rs. 549.57 Crores
8.94 8.94
11
Issuer Market Value % to NetRs. in. Lacs Assets
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
Birla Infrastructure Fund - Growth S&P Nifty
2.07%
3.41%
3.44%
3.69%
3.85%
4.85%
5.55%
6.63%
6.97%
7.39%
7.67%
8.11%
9.04%
27.33%
Power
Ferrous Metals
Hotels
Non - Ferrous Metals
Transportation
Telecom-Services
Construction
Other Equity
Cement
Auto
Industrial Products
Banks
Cash & Current Assets
Industrial Capital Goods
Since Inception
-32.26
-10.92
-35
-30
-25
-20
-15
-10
-5
0
Birla Equity Plan
Transportation 779.40 10.75
Container Corporation of India Ltd. 430.50 5.94
Great Eastern Shipping Co. Ltd. 348.90 4.81
Banks 677.58 9.35
Karnataka Bank Ltd 183.30 2.53
Indian Overseas Bank 168.20 2.32
Allahabad Bank Ltd. 127.80 1.76
ICICI Bank Ltd. 121.85 1.68
Bank Of India 76.43 1.05
Consumer Non Durables 644.44 8.89
I T C Ltd. 236.93 3.27
Mcdowell & Company Ltd. 213.38 2.94
Glaxo Smithkline Consumer Healthcare Ltd 126.23 1.74
SPL Industries Ltd. 67.91 0.94
Industrial Capital Goods 480.89 6.64
Bharat Electronics Ltd. 299.88 4.14
Crompton Greaves Ltd. 181.01 2.50
Cement 478.02 6.60
Grasim Industries Ltd. 396.32 5.47
Birla Corporation Ltd. 81.71 1.13
Hotels 463.98 6.40
Taj GVK Hotels & Resorts Ltd. 285.75 3.94
Royal Orchid Hotels Ltd. 178.23 2.46
Textile Products 412.23 5.69
Aditya Birla Nuvo Ltd. 247.82 3.42
Gokaldas Exports Ltd. 164.41 2.27
Auto 380.53 5.25
Maruti Udyog Ltd. 284.74 3.93
Bajaj Auto Ltd. 95.79 1.32
Non - Ferrous Metals 377.86 5.21
Hindalco Industries Ltd. 225.69 3.11
Sterlite Industries (India) Ltd. 152.18 2.10
Gas 352.68 4.87
Gujarat Gas Co. Ltd. 192.67 2.66
Indraprastha Gas Ltd. 160.01 2.21
Industrial Products 348.93 4.81
Kirloskar Oil Engines Ltd. 250.84 3.46
BOC India Ltd. 98.10 1.35
Auto Ancillaries 292.37 4.03
Automobile Corporation of Goa Ltd. 292.37 4.03
Pharmaceuticals 285.32 3.94
Pfizer Ltd. 155.07 2.14
Wyeth Ltd. 130.25 1.80
Software 210.91 2.91
Mastek Ltd. 210.91 2.91
Pesticides 197.51 2.73
Rallis India Ltd. 197.51 2.73
Construction 164.51 2.27
Hindustan Construction Co. Ltd. 164.51 2.27
Telecom-Services 149.37 2.06
Reliance Comm. Ventures Ltd . 149.37 2.06
Cash & Current Assets 550.64 7.60
Net Assets 7247.16 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment.
Date of inception / takeover:
February 16, 1999
NAV:
Dividend Rs.
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
BSE Sensex
Corpus:
Rs. 72.47 Crores
43.66
12
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BEP...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 87
Total Investment 87,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE Sensex would have given a return of
%
**Dividend reinvestment NAVs have been considered for the analyses.
Date of First Installment: March 01,1999
429,885.70
39.1
23.3
Systematic Investment Plan (SIP)
Investment Style: Growth
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
#««««Value Research Rating
- Birla Equity Plan
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
An Open-ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 yearsJ u l y 2 0 0 6
NAV Performance Asset Allocation
2.06%2.27%
2.73%2.91%
3.94%4.03%
4.81%4.87%
5.21%5.25%
5.69%6.40%6.60%6.64%
7.60%8.89%
9.35%10.75%
Telecom-ServicesConstruction
PesticidesSoftware
PharmaceuticalsAuto Ancillaries
Industrial ProductsGas
Non - Ferrous MetalsAuto
Textile ProductsHotels
CementIndustrial Capital Goods
Cash & Current AssetsConsumer Non Durables
BanksTransportation
41.53
51.255.34
45.07
31.56
47.29 47.6143.31
25.11
16.95
0
10
20
30
40
50
60
1 Year 2 Years 3 Years 5 Years Since InceptionBirla Equity Plan BSE Sensex
Birla Top 100 Fund
Software 6433.45 13.82
Infosys Technologies Ltd. 3074.47 6.60
Satyam Computer Services Ltd. 2134.20 4.58
Tata Consultancy Services Ltd. 1224.78 2.63
Banks 5193.29 11.15
State Bank of India 2182.20 4.69
HDFC Bank Ltd. 1424.07 3.06
ICICI Bank Ltd. 877.32 1.88
Punjab National Bank 709.70 1.52
Consumer Non Durables 4765.66 10.23
I T C Ltd. 1822.50 3.91
Mcdowell & Company Ltd. 1217.09 2.61
Hindustan Lever Ltd. 916.40 1.97
Bajaj Hindustan Ltd. 809.67 1.74
Auto 4278.83 9.19
Tata Motors Ltd. 1906.68 4.09
Hero Honda Motors Ltd. 1583.00 3.40
Maruti Udyog Ltd. 789.15 1.69
Pharmaceuticals 3635.93 7.81
Pfizer Ltd. 1031.22 2.21
Glaxosmithkline Pharmaceuticals Ltd. 1019.22 2.19
Ranbaxy Laboratories Ltd. 801.90 1.72
Aventis Pharma Ltd. 783.59 1.68
Industrial Capital Goods 3539.16 7.60
Bharat Heavy Electricals Ltd. 1756.67 3.77
Larsen & Toubro Ltd. 897.24 1.93
Siemens Ltd. 885.25 1.90
Hotels 2549.87 5.48
Indian Hotels Co. Ltd. 1835.08 3.94
Taj GVK Hotels & Resorts Ltd. 714.80 1.54
Cement 2530.17 5.43
The Associated Cement Companies Ltd. 1621.54 3.48
Grasim Industries Ltd. 908.63 1.95
Telecom-Services 2497.50 5.36
Bharti Tele-Ventures Ltd. 2497.50 5.36
Petroleum Products 1852.81 3.98
Reliance Industries Ltd. 1852.81 3.98
Pesticides 1756.81 3.77
United Phosphorous Ltd. 1249.22 2.68
Rallis India Ltd. 507.59 1.09
Finance 923.21 1.98
Housing Development Finance Corp. Ltd. 923.21 1.98
Retailing 850.08 1.83
Pantaloon Retail (India) Ltd. 850.08 1.83
Oil 692.08 1.49
Oil & Natural Gas Corporation Ltd. 692.08 1.49
Cash & Current Assets 5065.74 10.88
Net Assets 46564.60 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An open-ended growth scheme with the objective to provide medium to long-term capital appreciation, by investing predominantly in a diversified portfolio of equity and equity related securities of top 100 companies as measured by market capitalization.
Date of inception / takeover:
October 24, 2005
NAV: Rs.
DividendGrowth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
S & P CNX Nifty
Corpus:
Rs. 465.64 Crores
12.4282 12.4279
13
Issuer Market Value % to NetRs. in. Lacs Assets
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
Birla Top 100 Fund - Growth S&P Nifty3.77%
3.98%
5.29%
5.36%
5.43%
5.48%
7.60%
7.81%
9.19%
10.23%
10.88%
11.15%
13.82%
Pesticides
Petroleum Products
Other Equity
Telecom-Services
Cement
Hotels
Industrial Capital Goods
Pharmaceuticals
Auto
Consumer Non Durables
Cash & Current Assets
Banks
Software
Since Inception
37.53 47.93
0
10
20
30
40
50
60
Birla Sun Life Buy India Fund
Consumer Non Durables 4173.89 31.19
I T C Ltd. 1093.50 8.17
Hindustan Lever Ltd. 744.58 5.56
Dabur India Ltd. 546.24 4.08
Mcdowell & Company Ltd. 426.75 3.19
Godrej Consumer Products Ltd. 383.55 2.87
Berger Paints India Ltd. 371.05 2.77
United Breweries Ltd. 310.52 2.32
Heritage Foods (India) Ltd. 297.70 2.22
Pharmaceuticals 2010.20 15.02
Fulford (India) Ltd. 683.69 5.11
Sun Pharmaceutical Industries Ltd. 474.45 3.55
Pfizer Ltd. 334.04 2.50
Wyeth Ltd. 260.50 1.95
Cadila Healthcare Ltd. 257.51 1.92
Auto 1754.41 13.11
Maruti Udyog Ltd. 518.44 3.87
Tata Motors Ltd. 516.39 3.86
Hero Honda Motors Ltd. 433.84 3.24
Mahindra & Mahindra Ltd. 285.73 2.13
Hotels 1707.75 12.76
Taj GVK Hotels & Resorts Ltd. 666.75 4.98
Asian Hotels Ltd. 583.66 4.36
Indian Hotels Co. Ltd. 457.34 3.42
Retailing 870.87 6.51
Trent Ltd. 410.82 3.07
Pantaloon Retail (India) Ltd. 219.10 1.64
Shoppers Stop Ltd. 181.04 1.35
Trent Ltd. - Warrants. 59.91 0.45
Telecom-Services 840.75 6.28
Bharti Tele-Ventures Ltd. 647.50 4.84
Mahanagar Telephone Nigam Ltd. 193.25 1.44
Textile Products 438.71 3.28
Aditya Birla Nuvo Ltd. 438.71 3.28
Trading 147.80 1.10
3M India Ltd. 147.80 1.10
Media & Entertainment 67.04 0.50
UTV Software Communications Ltd. 67.04 0.50
Magnasound India Ltd 0.00 0.00
Cash & Current Assets 1372.00 10.25
Net Assets 13383.40 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
A multi-sector open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in businesses that are driven by India's large population and inherent consumption patterns. The focus of the scheme will be in the consumer and healthcare sectors. The secondary objective is income generation and distribution of dividend.
Date of inception / takeover:
January 15, 2000
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: 1% if redeemed/ switched out within 6 months from the date of allotment
Benchmark:
BSE 200
Corpus:
Rs. 133.83 Crores
15.4421.99
14
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSL Buy India Fund
Monthly Investment 1,000
Number of Investment periods (Since Inception) 75
Total Investment 75,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE 200 would have given a return of
%
Date of First Installment: March 01, 2000
280,726.10
38.27
29.17
Systematic Investment Plan (SIP)
Investment Style: Value + Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
1.61%
3.28%
6.28%
6.51%
10.25%
12.76%
13.11%
15.02%
31.19%
Other Equity
Textile Products
Telecom-Services
Retailing
Cash & Current Assets
Hotels
Auto
Pharmaceuticals
Consumer Non Durables
32.87
60.75 58.75
35.37
12.97
37.3241.37 41.16
28.86
11.9
0
10
20
30
40
50
60
70
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife Buy India Fund - Growth BSE200
Birla Sun Life New Millennium Fund
Software 6063.44 71.31
Infosys Technologies Ltd. 1144.60 13.46
HCL Technologies Ltd. 757.67 8.91
Tata Consultancy Services Ltd. 628.31 7.39
Satyam Computer Services Ltd. 516.48 6.07
Wipro Ltd. 469.40 5.52
Hinduja TMT Ltd. 467.11 5.49
Geodesic Information Systems Ltd. 428.27 5.04
Nucleus Software Exports Ltd. 399.40 4.70
3i Infotech Ltd. 336.64 3.96
Subex Systems Ltd. 262.05 3.08
Geometric Software Solution Ltd. 225.24 2.65
I-Flex Solutions Ltd. 186.73 2.20
Mphasis BFL Ltd. 142.06 1.67
Allsec Technologies Ltd. 99.47 1.17
Telecom-Services 1093.21 12.86
Bharti Tele-Ventures Ltd. 861.31 10.13
Mahanagar Telephone Nigam Ltd. 231.90 2.73
Media & Entertainment 537.51 6.32
Deccan Chronicle Holdings Ltd. 270.64 3.18
NDTV India Ltd. 105.98 1.25
UTV Software Communications Ltd. 100.56 1.18
Zee Telefilms. 60.34 0.71
Magnasound India Ltd 0.00 0.00
Cash & Current Assets 809.19 9.52
Net Assets 8503.36 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
A multi-sector open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in technology and technology dependent companies, hardware, peripherals and components, software, telecom, media, internet and e-commerce and other technology enabled companies. The secondary objective is income generation and distribution of dividend.
Date of inception / takeover:
January 15, 2000
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
BSE Teck
Corpus:
Rs. 85.03 Crores
11.73 13.75
15
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSLNMF...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 75
Total Investment 75,000
Value of Investment (As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE Teck would have given a return of
%
Date of First Installment: March 01, 2000
203,337.10
28.54
22.64
Systematic Investment Plan (SIP)
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
6.32%
9.52%
12.86%
71.31%
Media & Entertainment
Cash & Current Assets
Telecom-Services
Software
33.62
46.6951.88
27.35
5.05
32.41
42.51
50.66
21.91
0
10
20
30
40
50
60
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife New Millennium - Growth BSE Teck
Birla Sun Life Basic Industries Fund
Industrial Capital Goods 2632.81 22.42
Bharat Heavy Electricals Ltd. 731.94 6.23
Siemens Ltd. 573.51 4.88
Crompton Greaves Ltd. 476.98 4.06
Larsen & Toubro Ltd. 347.68 2.96
Bharat Electronics Ltd. 225.10 1.92
ABB Ltd. 113.57 0.97
ABG Shipyard Ltd. 100.05 0.85
Engineers India Ltd. 63.98 0.54
Industrial Products 1111.98 9.47
Cummins India Ltd. 513.14 4.37
BOC India Ltd. 463.87 3.95
Greaves Cotton Ltd. 94.84 0.81
Torrent Cables Ltd. 40.13 0.34
Auto 1063.56 9.06
Tata Motors Ltd. 471.11 4.01
Bajaj Auto Ltd. 313.29 2.67
Maruti Udyog Ltd. 279.16 2.38
Cement 946.06 8.06
Grasim Industries Ltd. 489.11 4.16
The Associated Cement Companies Ltd. 235.17 2.00
Birla Corporation Ltd. 221.78 1.89
Construction 883.32 7.52
MAHINDRA GESCO 332.15 2.83
Jaiprakash Associates Ltd. 315.32 2.68
Gammon India Ltd. 214.22 1.82
Nagarjuna Construction Co. Ltd. 21.64 0.18
Banks 675.02 5.75
Punjab National Bank 265.44 2.26
State Bank of India 202.22 1.72
ICICI Bank Ltd. 171.30 1.46
Andhra Bank 36.06 0.31
Ferrous Metals 641.89 5.47
Tata Steel Ltd 379.71 3.23
Jindal Steel & Power Ltd. 262.18 2.23
Consumer Non Durables 524.11 4.46
SPL Industries Ltd. 242.62 2.07
Balrampur Chini Mills Ltd. 155.61 1.32
Bajaj Hindustan Ltd. 125.88 1.07
Non - Ferrous Metals 506.27 4.31
Hindalco Industries Ltd. 323.66 2.76
Sterlite Industries (India) Ltd. 182.61 1.55
Oil 382.28 3.25
Oil & Natural Gas Corporation Ltd. 382.28 3.25
Pesticides 351.05 2.99
United Phosphorous Ltd. 351.05 2.99
Finance 296.06 2.52
Housing Development Finance Corp. Ltd. 296.06 2.52
Petroleum Products 240.00 2.04
Indian Oil Corporation Ltd. 240.00 2.04
Chemicals 198.43 1.69
Indian Petrochemicals Corporation Ltd. 105.52 0.90
Aarti Industries Ltd. 92.91 0.79
Fertilisers 196.69 1.67
Tata Chemicals Ltd. 196.69 1.67
Textiles 179.00 1.52
Century Textile & Industries Ltd. 179.00 1.52
Cash & Current Assets 916.20 7.80
Net Assets 11744.73 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
A multi-sector open-end growth scheme with the objective of long term growth capital, through a portfolio with a target allocation of 100% equity, focusing on investing in companies sensitive to economic cycles and commodity pricing cycles. The investments will be in companies which are often referred to as cyclical companies. The secondary objective is income generation and distribution of dividend.
Date of inception / takeover:
January 15, 2000
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
BSE 200
Corpus:
Rs. 117.44 Crores
30.28 54.25
16
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSLBIF...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 75
Total Investment 75,000
Value of Investment (As of May 31
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE 200 would have given a return of
%
March 01, 2000
, 2006)
Date of First Installment:
370,686.80
45.78
29.17
Systematic Investment Plan (SIP)
Investment Style: Value + Growth
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
#«««««Value Research Rating
- Birla Sun Life Basic Industries Fund
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.04%2.52%
2.99%
3.25%4.31%
4.46%4.89%
5.47%
5.75%7.52%
7.80%8.06%
9.06%
9.47%22.42%
Petroleum ProductsFinance
Pesticides
OilNon - Ferrous Metals
Consumer Non Durables
Other EquityFerrous Metals
BanksConstruction
Cash & Current AssetsCement
Auto
Industrial Products
Industrial Capital Goods
46.07 47.3450.33
45.9
29.92
37.3241.37 41.16
28.86
11.9
0
10
20
30
40
50
60
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife Basic Industries - Growth BSE200
Birla Sun Life Frontline Equity Fund
Software 1057.38 13.61
Infosys Technologies Ltd. 377.40 4.86
Wipro Ltd. 314.87 4.05
Tata Consultancy Services Ltd. 187.26 2.41
Satyam Computer Services Ltd. 177.85 2.29
Industrial Capital Goods 1055.75 13.59
Bharat Heavy Electricals Ltd. 330.64 4.26
Crompton Greaves Ltd. 308.18 3.97
Larsen & Toubro Ltd. 251.00 3.23
Siemens Ltd. 165.92 2.14
Consumer Non Durables 705.33 9.08
Hindustan Lever Ltd. 301.03 3.88
I T C Ltd. 273.56 3.52
Berger Paints India Ltd. 130.75 1.68
Auto 682.77 8.79
Mahindra & Mahindra Ltd. 262.03 3.37
Tata Motors Ltd. 217.36 2.80
Bajaj Auto Ltd. 123.62 1.59
Maruti Udyog Ltd. 79.76 1.03
Banks 553.27 7.12
State Bank of India. 238.27 3.07
Punjab National Bank. 117.89 1.52
Industrial Development Bank of India Ltd. 115.50 1.49
Syndicate Bank. 81.61 1.05
Cement 466.83 6.01
Ultratech Cement Ltd. 247.48 3.19
The Associated Cement Companies Ltd. 219.35 2.82
Petroleum Products 423.50 5.45
Reliance Industries Ltd. 423.50 5.45
Pharmaceuticals 420.74 5.42
Pfizer Ltd. 151.87 1.96
Glenmark Pharmaceuticals Ltd. 135.75 1.75
Cipla Ltd. 133.12 1.71
Hotels 315.15 4.06
Indian Hotels Co. Ltd. 249.25 3.21
Royal Orchid Hotels Ltd. 65.90 0.85
Telecom-Services 275.10 3.54
Bharti Tele-Ventures Ltd. 275.10 3.54
Ferrous Metals 265.58 3.42
Tata Steel Ltd. 265.58 3.42
Pesticides 171.91 2.21
United Phosphorous Ltd. 171.91 2.21
Finance 161.94 2.09
Housing Development Finance Corp. Ltd. 139.69 1.80
United Breweries Holdings Ltd. 22.25 0.29
Oil 136.55 1.76
Oil & Natural Gas Corporation Ltd. 136.55 1.76
Construction 120.78 1.56
MAHINDRA GESCO. 120.78 1.56
Non - Ferrous Metals 87.48 1.13
Hindalco Industries Ltd. 87.48 1.13
Power 65.89 0.85
Reliance Energy Ltd. 65.89 0.85
Industrial Products 38.53 0.50
Kirloskar Oil Engines Ltd. 38.53 0.50
Cash & Current Assets 762.06 9.81
Net Assets 7766.53 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity by aiming at being as diversified across various industries and or sectors as its chosen benchmark index, BSE 200. The secondary objective is income generation and distribution of dividend.
Date of inception / takeover:
August 30, 2002
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: 1% if redeemed/ switched out within 6 months from the date of allotment
Benchmark:
BSE 200
Corpus:
Rs. 77.66 Crores
21.23 37.59
17
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSLFEF...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 44
Total Investment 44,000
Value of Investment (As of May 31
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE 200 would have given a return of
%
Date of First Installment: October 01, 2002
, 2006) 106,591.60
44.17
39.87
Systematic Investment Plan (SIP)
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.09%
2.21%
3.42%
3.54%
4.06%
5.42%
5.45%
5.78%
6.01%
7.12%
8.79%
9.08%
9.81%
13.59%
13.61%
Finance
Pesticides
Ferrous Metals
Telecom-Services
Hotels
Pharmaceuticals
Petroleum Products
Other Equity
Cement
Banks
Auto
Consumer Non Durables
Cash & Current Assets
Industrial Capital Goods
Software
47.47 47.9645.31
41.2337.32
41.37 41.1637.21
0
10
20
30
40
50
60
1 Year 2 Years 3 Years Since Inception
Birla SunLife Frontline Equity Fund - Growth BSE200
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
#««««Value Research Rating
- Birla Sun Life Frontline Equity Fund
Birla Sun Life Equity Fund
Industrial Capital Goods 5072.61 13.94Siemens Ltd. 1720.39 4.73Bharat Heavy Electricals Ltd. 1437.42 3.95Crompton Greaves Ltd. 1354.02 3.72Larsen & Toubro Ltd. 560.78 1.54
Software 3746.82 10.29Infosys Technologies Ltd. 1672.62 4.60Wipro Ltd. 1207.31 3.32Tata Consultancy Services Ltd. 381.84 1.05Allsec Technologies Ltd. 300.77 0.83Megasoft Ltd. 184.28 0.51
Auto 3657.62 10.05Tata Motors Ltd. 1424.45 3.91Maruti Udyog Ltd. 1068.02 2.93Bajaj Auto Ltd. 668.23 1.84Mahindra & Mahindra Ltd. 496.92 1.37
Consumer Non Durables 2734.98 7.51I T C Ltd. 975.04 2.68United Breweries Ltd. 685.23 1.88Bajaj Hindustan Ltd. 485.94 1.34Mcdowell & Company Ltd. 339.69 0.93Balrampur Chini Mills Ltd. 249.08 0.68
Cement 2054.11 5.64Grasim Industries Ltd. 1231.36 3.38The Associated Cement Companies Ltd. 365.20 1.00Birla Corporation Ltd. 234.46 0.64Madras Cements Ltd. 223.09 0.61
Non - Ferrous Metals 2045.13 5.62Hindalco Industries Ltd. 1224.65 3.36Sterlite Industries (India) Ltd. 427.10 1.17Hindalco Industries Ltd.- Rights Shares 393.38 1.08
Banks 1998.65 5.49Punjab National Bank 612.15 1.68Industrial Development Bank of India Ltd 519.75 1.43ICICI Bank Ltd. 405.82 1.12Kotak Mahindra Bank Ltd. 242.70 0.67State Bank of India 218.22 0.60
Pharmaceuticals 1926.18 5.29Glenmark Pharmaceuticals Ltd. 771.74 2.12Cadila Healthcare Ltd. 654.69 1.80
Glaxosmithkline Pharmaceuticals Ltd. 492.28 1.35Maestro Mediline Systems Ltd. 7.48 0.02
Retailing 1834.73 5.04Pantaloon Retail (India) Ltd. 943.11 2.59Shoppers Stop Ltd. 676.46 1.86Trent Ltd. 215.17 0.59
Construction 1775.02 4.88Nagarjuna Construction Co. Ltd. 756.33 2.08MAHINDRA GESCO 422.73 1.16Jaiprakash Associates Ltd. 335.03 0.92D.S. Kulkarni Developers Ltd. 260.93 0.72
Industrial Products 1505.86 4.14Cummins India Ltd. 1505.86 4.14
Hotels 1209.39 3.32Indian Hotels Co. Ltd. 1209.39 3.32
Finance 1093.65 3.00United Breweries Holdings Ltd. 1093.65 3.00
Textiles 921.21 2.53Century Textile & Industries Ltd. 921.21 2.53
Pesticides 901.93 2.48United Phosphorous Ltd. 901.93 2.48
Ferrous Metals 473.12 1.30Tata Steel Ltd 473.12 1.30
Petroleum Products 423.50 1.16Reliance Industries Ltd. 423.50 1.16
Telecom-Services 368.53 1.01Bharti Tele-Ventures Ltd. 368.53 1.01
Media & Entertainment 133.97 0.37Inox Leisure Ltd. 133.97 0.37Magnasound India Ltd 0.00 0.00
Cash & Current Assets 2518.11 6.92
Net Assets 36395.12 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities.
Date of inception / takeover:
August 27, 1998
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
BSE 200
Corpus:
Rs. 363.96 Crores
55.60 130.72
18
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
««««Value Research Rating#- BSL Equity Fund
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSLEF...
Monthly Investment 1,000
Number of Investment periods(Since Inception) 92
Total Investment 92,000
Value of Investment(As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE 200 would have given a return of
%
Date of First Installment: October 1, 1998
495,077.90
38.54
24.68
Systematic Investment Plan (SIP)
Investment Style: Growth
^^ for methodology please refer page 37
(Past performance is no guarantee of future results.)
CRISIL~CPR 2 Open Ended Equity Category^^
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.48%2.53%
3.00%3.32%
3.84%4.14%
4.88%5.04%
5.29%5.49%5.62%5.64%
6.92%7.51%
10.05%10.29%
13.94%
PesticidesTextilesFinance
HotelsOther Equity
Industrial ProductsConstruction
RetailingPharmaceuticals
BanksNon - Ferrous Metals
CementCash & Current Assets
Consumer Non DurablesAuto
SoftwareIndustrial Capital Goods
Birla SunLife Equity Fund - Growth
40.89
58.71 61
40.42 38.7537.3241.37 41.16
28.86
19.67
0
10
20
30
40
50
60
70
1 Year 2 Years 3 Years 5 Years Since Inception
BSE200
Birla Sun Life Tax Relief '96
Banks 254.38 12.63ICICI Bank Ltd. 97.48 4.84Allahabad Bank Ltd. 63.90 3.17Bank Of India. 50.95 2.53Indian Overseas Bank. 42.05 2.09
Transportation 228.38 11.34Great Eastern Shipping Co. Ltd. 127.93 6.35Container Corporation of India Ltd. 100.45 4.99
Cement 203.31 10.09Grasim Industries Ltd. 90.86 4.51Madras Cements Ltd. 66.93 3.32Birla Corporation Ltd. 45.52 2.26
Industrial Products 180.78 8.97BOC India Ltd. 76.50 3.80Kirloskar Oil Engines Ltd. 76.42 3.79Kirloskar Brothers Ltd 27.86 1.38
Consumer Non Durables 173.39 8.61United Breweries Ltd. 92.79 4.61Glaxo Smithkline Consumer Healthcare Ltd 80.60 4.00
Auto 141.13 7.00Bajaj Auto Ltd. 82.11 4.08Maruti Udyog Ltd. 59.02 2.93
Gas 129.68 6.44Gujarat Gas Co. Ltd. 91.26 4.53Indraprastha Gas Ltd. 38.41 1.91
Non - Ferrous Metals 84.49 4.19Hindalco Industries Ltd. 48.99 2.43Sterlite Industries (India) Ltd. 35.51 1.76
Hotels 83.03 4.12Taj GVK Hotels & Resorts Ltd. 83.03 4.12
Textile Products 70.78 3.51Aditya Birla Nuvo Ltd. 70.78 3.51
Industrial Capital Goods 68.31 3.39Bharat Heavy Electricals Ltd. 68.31 3.39
Finance 67.29 3.34Birla Global Finance Ltd. 67.29 3.34
Telecom-Services 60.99 3.03Reliance Comm. Ventures Ltd . 60.99 3.03
Auto Ancillaries 59.89 2.97Automobile Corporation of Goa Ltd. 59.89 2.97
Software 52.50 2.61Mastek Ltd. 52.50 2.61
Media & Entertainment 0.00 0.00Magnasound India Ltd 0.00 0.00
Cash & Current Assets 156.42 7.76
Net Assets 2014.76 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An open-end equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities
Date of inception / takeover:
March 29, 1996
NAV
Growth Rs.
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
BSE 200
Corpus:
Rs. 20.14 Crores
143.08
19
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSLTR’96F...
Monthly Investment 1,000
Number of Investment periods(Since Inception) 122
Total Investment 122,000
Value of Investment(As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE 200 would have given a return of
%
* Dividend Reinvestment NAVs has been considered for the analysis.
Date of First Installment: April 1, 1996
130,0402.10
40.74
19.78
Systematic Investment Plan (SIP)
Investment Style: Growth
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
An Open-ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
2.61%2.97%
3.03%
3.34%3.39%3.51%
4.12%
4.19%6.44%
7.00%
7.76%8.61%
8.97%
10.09%
11.34%12.63%
SoftwareAuto Ancillaries
Telecom-ServicesFinance
Industrial Capital GoodsTextile Products
Hotels
Non - Ferrous MetalsGas
AutoCash & Current Assets
Consumer Non DurablesIndustrial Products
Cement
TransportationBanks
38.69 37.9
44.51
34.6638.5937.32
41.37 41.16
28.86
13.54
0
5
10
15
20
25
30
35
40
45
50
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife Capital Tax Relief 96 BSE200
Birla Balance
As on June 30, 2006
Investment Objective:
An Open-ended balanced scheme with an objective to balance income requirements with growth of capital through a balance mix of investments in equity and debt at relatively moderate levels of risks through a diversified research based investment approach.
Date of inception / takeover:
October 12, 1999
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: 1% if redeemed/ switched out within 6 months from the date of allotment
Benchmark:
CRISIL Balanced Fund Index
Average Maturity:
1.02 Years
Corpus:
Rs. 120.00 Crores
15.24 22.92
20
Equity and Equity relatedListed / Awaiting listing on stock ExchangeBanks 1114.58 9.29State Bank of India 508.45 4.24Oriental Bank of Commerce 459.98 3.83Syndicate Bank 146.15 1.22
Auto 1069.97 8.92Hero Honda Motors Ltd. 573.05 4.78Mahindra & Mahindra Ltd. 496.92 4.14
Government Bond 1069.50 8.91Govt Bond 9.39% 2011 (Sovereign) 1069.50 8.91
PSU/PFI Bonds/Banks 1037.85 8.65Citibank N A ** (AAA) 765.67 6.38Industrial Development Bank of India Ltd. ** (AA+) 229.87 1.92HDFC Bank Ltd. ** (AAA) 42.31 0.35
Pharmaceuticals 802.00 6.68Pfizer Ltd. 357.98 2.98Novartis India Ltd. 288.49 2.40Glaxosmithkline Pharmaceuticals Ltd. 155.53 1.30
Consumer Non Durables 729.57 6.08I T C Ltd. 410.06 3.42Mcdowell & Company Ltd. 319.50 2.66
Industrial Products 613.09 5.11Cummins India Ltd. 332.59 2.77BOC India Ltd. 280.50 2.34
Telecom-Services 606.82 5.06Bharti Tele-Ventures Ltd. 469.90 3.92Reliance Comm. Ventures Ltd . 136.92 1.14
Corporate Debt 495.65 4.13Tata Sons Ltd. ** (AAA) 495.65 4.13
Software 473.94 3.95Infosys Technologies Ltd. 473.94 3.95
Petroleum Products 423.50 3.53Reliance Industries Ltd. 423.50 3.53
Pesticides 366.65 3.06United Phosphorous Ltd. 366.65 3.06
Oil 360.12 3.00Oil & Natural Gas Corporation Ltd. 360.12 3.00
Industrial Capital Goods 326.66 2.72Bharat Electronics Ltd. 326.66 2.72
Hotels 312.71 2.61Indian Hotels Co. Ltd. 312.71 2.61
Power 301.56 2.51Reliance Energy Ltd. 301.56 2.51
Floating Rate Instruments 301.00 2.51Housing Development Finance Corp. Ltd. (AAA) 301.00 2.51
Fertilisers 241.87 2.02Tata Chemicals Ltd. 241.87 2.02
Textile Products 209.58 1.75Aditya Birla Nuvo Ltd. 209.58 1.75
Finance 135.50 1.13Infrastructure Development Fin. Co. Ltd. 135.50 1.13
Cash & Current Assets 1008.05 8.40
Net Assets 12000.15 100.00
**Represents thinly traded/ non traded securities and illiquid securitiesTotal Percentage of thinly/non traded securities is 12.78 %
Issuer Market Value % to NetRs. in. Lacs Assets
Issuer Market Value % to NetRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in Birla Balance...
Monthly Investment 1,000
Number of Investment periods (Since Inception) 79
Total Investment 79,000
Value of Investment(As of May 31
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future.
November 1, 1999
, 2006)
In the same period, a SIP in BSE 200 would have given a return of
%
Date of First Installment:
172,666.90
20.8
16.93
Systematic Investment Plan (SIP)
Investment Style: (Equity) Value + GrowthInterest Rate Sensitivity: (Debt) Medium
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
Rating Profile
NAV Performance Asset Allocation
2.02%2.51%2.51%2.61%2.72%2.88%3.00%3.06%
3.53%3.95%4.13%
5.06%5.11%
6.08%6.68%
8.40%8.65%
8.91%8.92%
9.29%
FertilisersFloating Rate Instruments
PowerHotels
Industrial Capital GoodsOther Equity & Preference
OilPesticides
Petroleum ProductsSoftware
Corporate DebtTelecom-Services
Industrial ProductsConsumer Non Durables
PharmaceuticalsCash & Current Assets
PSU/PFI Bonds/BanksGovernment Bond
AutoBanks
26.35 27.6329.36
22.89
13.14
22.48 23.62 24.44
0
5
10
15
20
25
30
35
1 Year 2 Years 3 Years 5 Years Since Inception
Birla Balance Gr Crisil Balanced Fund Index
1.92%
8.40%
8.91%
13.37%
67.40%
AA
Cash & Current Assets
Sovereign
AAA
Other
Birla Sun Life '95 Fund
As on June 30, 2006
Investment Objective:
An open-end balanced scheme with the objective of long term growth of capital and current income, through a portfolio with a target allocation of 60% equity and 40% debt and money market securities.
Date of inception / takeover:
February 10, 1995
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: < Rs. 5 crores - 2.25 %³ Rs. 5 crores - NilExit Load: NIL
Benchmark:
CRISIL Balanced Fund Index
Average Maturity:
0.63 Years
Corpus:
Rs. 112.00 Crores
65.75 142.31
21
Equity and Equity relatedListed / Awaiting listing on stock ExchangeBanks 1104.21 9.86State Bank of India 458.26 4.09 Oriental Bank of Commerce 298.20 2.66 Industrial Development Bank of India Ltd 216.56 1.93 Jammu & Kashmir Bank Ltd. 131.19 1.17
Consumer Non Durables 1024.96 9.15United Breweries Ltd. 485.88 4.34 I T C Ltd. 410.06 3.66 Bombay Burmah Trading Corporation Ltd. 129.01 1.15
Floating Rate Instruments 1003.32 8.96Housing Development Finance Corp. Ltd. 1003.32 8.96 AAA
Corporate Debt 991.30 8.85Tata Sons Ltd. ** 991.30 8.85 AAA
Software 660.60 5.90Infosys Technologies Ltd. 449.32 4.01 Hinduja TMT Ltd. 211.28 1.89
Telecom-Services 617.08 5.51Bharti Tele-Ventures Ltd. 491.36 4.39 Reliance Comm. Ventures Ltd . 125.72 1.12
Securitised Debt 615.41 5.49Goldstar Trust (CITI) ** 274.52 2.45 AAA(SO)Goldstar Trust July 2004 A2 Series ** 226.77 2.02 AAA(SO)Fleet Trust July 2004 A2 Series ** 101.38 0.91 AAA(SO)India MBS 2003 Series III Trust ** 12.74 0.11 AAA(SO)
Auto 606.29 5.41Hero Honda Motors Ltd. 606.29 5.41
Petroleum Products 587.61 5.25Reliance Industries Ltd. 587.61 5.25
Finance 576.41 5.15United Breweries Holdings Ltd. 576.41 5.15
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Issuer Market Value % to Net RatingRs. in. Lacs Assets
SIP is a powerful tool that can help you create wealth over time. If you had invested* in BSL‘95F...
Monthly Investment 1,000
Number of Investment periods(Since Inception) 134
Total Investment 134,000
Value of Investment(As of May 31, 2006)
Return on Investment (CAGR) %
* Load has not been taken into consideration. Past performance may or may not be sustained in future. In the same period, a SIP in BSE 200 would have given a return of
%
Date of First Installment:
920,842.20
30.34
10.82
April 1, 1995
Systematic Investment Plan (SIP)
Investment Style: (Equity) Value + GrowthInterest Rate Sensitivity: (Debt) Low
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
Government Bond 534.75 4.77Govt Bond 9.39% 2011 534.75 4.77 Sovereign
Pharmaceuticals 448.01 4.00Cadila Healthcare Ltd. 340.11 3.04 Cipla Ltd. 107.90 0.96
Transportation 356.15 3.18Container Corporation of India Ltd. 356.15 3.18
Industrial Products 348.50 3.11BOC India Ltd. 348.50 3.11
Pesticides 321.33 2.87United Phosphorous Ltd. 321.33 2.87
Retailing 258.95 2.31Trent Ltd. 258.95 2.31
Gas 243.65 2.18Gujarat Gas Co. Ltd. 243.65 2.18
Media & Entertainment 188.47 1.68ETC Networks Ltd. 188.47 1.68 Magnasound India Ltd 0.00 0.00
Fertilisers 107.55 0.96Rashtriya Chemicals & Fertilizers Ltd. 107.55 0.96
Cash & Current Assets 606.29 5.41
Net Assets 11200.84 100.00
**Represents thinly traded/ non traded securities and illiquid securities Total Percentage of thinly/non traded securities is 14.34 %
NAV Performance
29.83
36.76 37.42
27.8226.25
22.48 23.62 24.44
0
5
10
15
20
25
30
35
40
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife 95 - Growth Crisil Balanced Fund Index
Rating Profile
Asset Allocation
2.18%2.31%
2.64%2.87%
3.11%3.18%
4.00%4.77%
5.15%5.25%5.41%5.41%5.49%5.51%
5.90%8.85%8.96%9.15%
9.86%
GasRetailing
Other EquityPesticides
Industrial ProductsTransportation
PharmaceuticalsGovernment Bond
FinancePetroleum Products
Cash & Current AssetsAuto
Securitised DebtTelecom-Services
SoftwareCorporate Debt
Floating Rate InstrumentsConsumer Non Durables
Banks
4.77%
5.41%
23.30%
66.51%
Sovereign
Cash & Current Assets
AAA
Other
Birla MIP
As on June 30, 2006
Investment Objective:
An Open-ended income scheme with the objective to generate regular income so as to make monthly distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus.
Date of inception / takeover:
November 20, 2000
NAV: Rs.
Dividend Payment / Growth
Load Structure:
Entry Load: NILExit Load:
<= Rs 10 lakhs: 0.60% if redeemed / switched out with in 90 days from the date of allotment.> 10 Lakhs: Nil
Benchmark:
CRISIL MIP Blended Index
Average Maturity:
1.43 Years
Corpus:
Rs. 200.61 Crores
10.758617.7660
22
Corporate Debt 8359.06 41.67
Mahindra & Mahindra Financial Serv. Ltd. ** 1973.71 9.84 AA+
Kotak Mahindra Prime Ltd. ** 1437.41 7.17 LAA
Hindalco Industries Ltd. ** 969.32 4.83 AAA
Great Eastern Shipping Co. Ltd. ** 904.15 4.51 AAA
Cholamandalam DBS Finance Ltd. ** 864.99 4.31 LAA
CitiFinancial Consumer Finance (I) Ltd. ** 686.01 3.42 AAA
Electrosteel Castings Ltd. ** 569.47 2.84 AA
Bombay Dyeing & Mfg. Co. Ltd. ** 500.00 2.49 Unrated
Housing Development Finance Corp. Ltd. ** 454.02 2.26 AAA
Securitised Debt 3934.13 19.61
Loan Sec Trust Sr XVI NTPC (ICICI Bank) ** 1609.31 8.02 LAAA(So)
Loan Receivable Trust II 2003 (Guj Amb) ** 880.99 4.39 AAA(SO)
BHPC 15 OCT 2008 BHPC Auto Sec Trust ** 467.65 2.33 AAA(SO)
Fleet Trust Aug I 2003 A3 CFIL (IL&FS) ** 332.07 1.66 AAA(SO)
MART 2003 II A2 SCB (UTI Bank) ** 228.38 1.14 P1+(SO)
Loan Sec Trust SrXII NTPC (ICICI) ** 207.36 1.03 LAAA(So)
MART 2004-SERIES III(CLASS A2)(04DEC06) **101.51 0.51 AAA(SO)
BHPC Auto Sec Tr Jun2003 A1 Telco ** 54.27 0.27 AAA(SO)
MART 2003 II A2 SCB (UTI Bank) ** 48.29 0.24 AAA(SO)
PFSL Sr A2 Chola Nov 2003 ** 4.29 0.02 MAAA(So)
Floating Rate Instruments 3230.14 16.10
Housing Development Finance Corp. Ltd. 1103.32 5.50 AAA
United Phosphorous Ltd. 908.48 4.53 AA
Industrial Development Bank of India Ltd. 518.12 2.58 AA+
UTI Bank Ltd. 500.23 2.49 LAA+
Cholamandalam DBS Finance Ltd. 200.00 1.00 LAA
EQUITY 2508.97 12.51
Bharti Tele-Ventures Ltd. 211.26 1.05
Hero Honda Motors Ltd. 205.79 1.03
United Phosphorous Ltd. 188.86 0.94
Infosys Technologies Ltd. 187.73 0.94
Indian Hotels Co. Ltd. 182.94 0.91
I T C Ltd. 182.25 0.91
Reliance Industries Ltd. 171.52 0.85
State Bank of India 167.30 0.83
Pfizer Ltd. 158.44 0.79
Reliance Energy Ltd. 136.13 0.68
Oriental Bank of Commerce 117.58 0.59
Infrastructure Development Fin. Co. Ltd. 108.40 0.54
Mcdowell & Company Ltd. 98.15 0.49
Bombay Dyeing & Mfg. Co. Ltd. 87.11 0.43
Novartis India Ltd. 86.72 0.43
KSB Pumps Ltd. 61.31 0.31
Industrial Development Bank of India Ltd. 57.75 0.29
Syndicate Bank 49.95 0.25
Reliance Comm. Ventures Ltd . 49.79 0.25
PSU/PFI Bonds/Banks 378.19 1.89
Power Grid Corporation of India Ltd. ** 378.19 1.89 AAA
Mutual Fund Units 83.25 0.41
Birla Fixed Term Debt Fund Ser 3 -18 B 52.32 0.26
Birla Fixed Term Debt Fund Ser 3 -36 B 30.93 0.15
Cash & Current Assets 1567.36 7.81
Net Assets 20061.10 100.00
**Represents thinly traded/ non traded securities and illiquid securities Total Percentage of thinly/non traded securities is 63.16 %
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Investment Style: (Equity) Value + GrowthInterest Rate Sensitivity: (Debt) Medium
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus
Portfolio
J u l y 2 0 0 6
Rating Profile
NAV Performance Asset Allocation
0.41%
1.89%
7.81%
12.51%
16.10%
19.61%
41.67%
Mutual Fund Units
PSU/PFI Bonds/Banks
Cash & Current Assets
Equity
Floating Rate Instruments
Securitised Debt
Corporate Debt
7.44 7.858.58
10.79
7.72 8 8.33
0
2
4
6
8
10
12
1 Year 2 Years 3 Years Since Inception
BMIP Gr Crisil MIP Blended Index
2.49%
7.81%
12.92%
34.76%
42.02%
Unrated
Cash & Current Assets
Equity
AA
AAA
Birla MIP II - Savings 5 Plan
23
Corporate Debt 269.00 35.98
GE Capital Services India. ** 99.24 13.27 AAA
Kotak Mahindra Prime Ltd. ** 98.58 13.18 LAA
Electrosteel Castings Ltd. ** 71.18 9.52 AA
Securitised Debt 161.67 21.62
Ind Retail ABS Trust Ser XIII A3PTC ** 161.67 21.62 MAAA(So)
PSU/PFI Bonds/Banks 100.59 13.45
Bharat Heavy Electricals Ltd. ** 100.59 13.45 AAA
Floating Rate Instruments 100.00 13.37
ICICI Bank Ltd. 100.00 13.37 AAA
EQUITY 16.14 2.16
Syndicate Bank 4.52 0.60
Oriental Bank of Commerce 3.41 0.46
Hero Honda Motors Ltd. 3.13 0.42
Bharti Tele-Ventures Ltd. 2.66 0.36
State Bank of India 2.42 0.32
Cash & Current Assets 100.34 13.42
Net Assets 747.74 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 71.05%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus.
Date of inception / takeover:
May 01, 2004
NAV: Rs.
Dividend Payment / Growth
Load Structure:
Entry Load: NILExit Load: NIL
Benchmark:
CRISIL MIP Blended Index
Average Maturity:
0.57 Years
Corpus:
Rs. 7.47 Crores
10.083511.0400
Investment Style: (Equity) Value + GrowthInterest Rate Sensitivity: (Debt) Medium
An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance
5.3 5.214.81
7.72 8
6.77
0
1
2
3
4
5
6
7
8
9
1 Year 2 Years Since Inception
Birla MIP II - Savings 5 - Growth Crisil MIP Blended Index
Rating Profile
Asset Allocation
2.16%
13.37%
13.42%
13.45%
21.62%
35.98%
Equity
Floating Rate Instruments
Cash & Current Assets
PSU/PFI Bonds/Banks
Securitised Debt
Corporate Debt
2.16%
13.42%
22.70%
61.72%
Equity
Cash & Current Assets
AA
AAA
Birla MIP II - Wealth 25 Plan
24
Corporate Debt 2694.73 37.45
Bombay Dyeing & Mfg. Co. Ltd. ** 500.00 6.95 Unrated
Housing Development Finance Corp. Ltd. ** 482.61 6.71 AAA
CitiFinancial Consumer Finance (I) Ltd. ** 481.99 6.70 AAA
Hindalco Industries Ltd. ** 460.42 6.40 AAA
Great Eastern Shipping Co. Ltd. ** 452.07 6.28 AAA
Kotak Mahindra Prime Ltd. ** 246.45 3.43 LAA
Electrosteel Castings Ltd. ** 71.18 0.99 AA
Securitised Debt 2095.74 29.13
Indian Retail ABS Trust Series 56 (A1X) ** 900.59 12.52 AAA(SO)
Ind Retail ABS Trust Ser XIII A3PTC ** 727.50 10.11 MAAA(So)
BHPC 15 OCT 2008 BHPC Auto Sec Trust ** 467.65 6.50 AAA(SO)
EQUITY 1229.06 17.08
Hero Honda Motors Ltd. 79.15 1.10
United Phosphorous Ltd. 77.60 1.08
Mahindra & Mahindra Ltd. 74.54 1.04
Reliance Industries Ltd. 74.11 1.03
Bharti Tele-Ventures Ltd. 74.00 1.03
I T C Ltd. 72.90 1.01
State Bank of India 72.74 1.01
Pfizer Ltd. 69.78 0.97
Indian Hotels Co. Ltd. 68.60 0.95
ZF Steering Gear (India) Ltd. 68.47 0.95
Reliance Energy Ltd. 68.06 0.95
Oriental Bank of Commerce 66.46 0.92
Infosys Technologies Ltd. 61.55 0.86
Bombay Dyeing & Mfg. Co. Ltd. 58.08 0.81
Industrial Development Bank of India Ltd. 57.75 0.80
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Infrastructure Development Fin. Co. Ltd. 54.20 0.75
Mcdowell & Company Ltd. 46.94 0.65
Glaxosmithkline Pharmaceuticals Ltd. 46.79 0.65
Reliance Comm. Ventures Ltd . 37.34 0.52
Floating Rate Instruments 300.00 4.17
Cholamandalam DBS Finance Ltd. 300.00 4.17 LAA
PSU/PFI Bonds/Banks 271.87 3.78
Neyveli Lignite Corporation Ltd. ** 271.87 3.78 LAAA
Mutual Fund Units 83.25 1.16
Birla Fixed Term Debt Fund Ser 3 -18 B 52.32 0.73
Birla Fixed Term Debt Fund Ser 3 -36 B 30.93 0.43
Government Bond 41.34 0.57
Govt Bond 9.39% 2011 41.34 0.57 Sovereign
Cash & Current Assets 479.46 6.66
Net Assets 7195.44 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 70.35%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus.
Date of inception / takeover:
May 01, 2004
NAV: Rs.
Dividend Payment / Growth
Load Structure:
Entry Load: NILExit Load: <= Rs 10 lakhs: 0.60% if redeemed / switched out with in 180 days from the date of allotment.> 10 Lakhs: Nil
Benchmark:
CRISIL MIP Blended Index
Average Maturity:
1.22 Years
Corpus:
Rs. 71.95 Crores
10.860012.4481
Investment Style: (Equity) Value + GrowthInterest Rate Sensitivity: (Debt) Medium
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
#««««Value Research Rating
- Birla MIP II - Wealth 25 Plan
Portfolio
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus
J u l y 2 0 0 6
NAV Performance Asset Allocation
0.57%
1.16%
3.78%
4.17%
6.66%
17.08%
29.13%
37.45%
Government Bond
Mutual Fund Units
PSU/PFI Bonds/Banks
Floating Rate Instruments
Cash & Current Assets
Equity
Securitised Debt
Corporate Debt12.46 12.33
10.95
7.72 8
6.77
0
2
4
6
8
10
12
14
1 Year 2 Years Since Inception
Birla MIP II - Wealth 25 - Growth Crisil MIP Blended Index
Rating Profile
0.57%
6.66%
6.95%
8.58%
18.24%
58.99%
Sovereign
Cash & Current Assets
Unrated
AA
Equity
AAA
Birla Sun Life Monthly Income
25
Floating Rate Instruments 3039.80 23.05
LIC Housing Finance Ltd. 1501.92 11.39 AAA
Industrial Development Bank of India Ltd 1036.23 7.86 AA+
Housing Development Finance Corp. Ltd. 501.66 3.80 AAA
Corporate Debt 2860.22 21.69
Bombay Dyeing & Mfg. Co. Ltd ** 1000.00 7.58 Unrated
Citicorp Finance (I) Ltd. ** 989.05 7.50 AAA
Tata Steel Limited ** 871.17 6.61 AAA
PSU/PFI Bonds/Banks 2084.35 15.81
National Bank for Agri & Rural Devp ** 1497.55 11.36 AAA
Power Finance Corporation Ltd. ** 586.80 4.45 AAA
EQUITY 1662.23 12.60
Infosys Technologies Ltd. 150.80 1.14
Mahindra & Mahindra Ltd. 142.86 1.08
United Breweries Holdings Ltd. 138.46 1.05
Bharti Tele-Ventures Ltd. 129.50 0.98
United Phosphorous Ltd. 118.28 0.90
United Breweries Ltd. 118.05 0.90
Hero Honda Motors Ltd. 117.14 0.89
Cadila Healthcare Ltd. 114.22 0.87
Cipla Ltd. 107.90 0.82
Oriental Bank of Commerce 106.50 0.81
State Bank of India 95.34 0.72
Gujarat Gas Co. Ltd. 83.72 0.63
Hinduja TMT Ltd. 75.46 0.57
Nirma Ltd. 66.85 0.51
Pritish Nandy Communications Ltd. 52.24 0.40
ETC Networks Ltd. 44.91 0.34
Magnasound India Ltd. 0.00 0.00
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Securitised Debt 1073.79 8.14
India Infrastructure Developers Limited ** 508.86 3.86 AAA(SO)
Goldstar Trust July 2004 A2 Series ** 226.77 1.72 AAA(SO)
Goldstar Trust (CITI) ** 109.81 0.83 AAA(SO)
Fleet Trust July 2004 A2 Series ** 101.38 0.77 AAA(SO)
Fleet Trust April 2004 Series ** 94.67 0.72 AAA(SO)
Indian Retail ABS Trust SerXIII A3 ** 19.57 0.15 MAAA(So)
India MBS 2003 Series III Trust ** 12.74 0.10 AAA(SO)
Money Market Instruments 594.54 4.51
Rabo India Finance Pvt. Ltd. 395.80 3.00 P1+
Federal Bank Ltd. 198.74 1.51 P1+
Cash & Current Assets 1872.82 14.20
Net Assets 13187.76 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 45.64%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An open-end income scheme with the primary objective to generate regular income so as to make monthly and quarterly distributions to Unitholders and the secondary objective as growth of capital. Monthly income is not assured and is subject to availability of distributable surplus.
Date of inception / takeover:
July 14, 1999
NAV: Rs.
Dividend Payment / Growth Quarterly Dividend
Load Structure:
Entry Load: NILExit Load: <= Rs 10 lakhs: 0.60% if redeemed / switched out with in 90 days from the date of allotment.> 10 Lakhs: Nil
Benchmark:
CRISIL MIP Blended Index
Average Maturity:
0.52 Years
Corpus:
Rs. 131.87 Crores
10.445623.323610.8906
Investment Style: (Equity) Value + Growth Interest Rate Sensitivity: (Debt) Medium
Portfolio
An open- ended fund. Monthly income is not assured and is subject to availability of distributable surplus
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
J u l y 2 0 0 6
NAV Performance
9.09 8.989.9
11.28
12.93
7.72 8 8.33
0
2
4
6
8
10
12
14
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife MIP - Growth Crisil MIP Blended Index
Rating Profile
Asset Allocation
4.51%
8.14%
12.60%
14.20%
15.81%
21.69%
23.05%
Money Market Instruments
Securitised Debt
Equity
Cash & Current Assets
PSU/PFI Bonds/Banks
Corporate Debt
Floating Rate Instruments
7.58%
7.86%
12.60%
14.20%
57.75%
Unrated
AA
Equity
Cash & Current Assets
AAA
Birla Income Plus
26
Corporate Debt 8664.38 41.52
GE Capital Services India** 2745.76 13.16 AAA
Hindalco Industries Ltd.** 1388.01 6.65 AAA
Reliance Industries Ltd.** 1359.62 6.52 AAA
Kotak Mahindra Prime Limited.** 993.80 4.76 LAA
Cholamandalam DBS Finance Ltd.** 695.97 3.34 LAA
Housing Development Finance Corp. Ltd.** 502.70 2.41 AAA
Mahindra & Mahindra Financial Serv. Ltd.** 496.53 2.38 AA+
CitiFinancial Consumer Finance (I) Ltd.** 481.99 2.31 AAA
Floating Rate Instruments 3630.88 17.40
Housing Development Finance Corp. Ltd. 1413.01 6.77 LAAA
Indian Retail ABS Trust SerXIII A3 816.86 3.91MAAA(SO)
LIC Housing Finance Ltd. 500.64 2.40 AAA
UTI Bank Ltd. 500.23 2.40 LAA+
Export-Import Bank of India 300.14 1.44 AAA
ICICI Bank Ltd. 100.00 0.48 AAA
Money Market Instruments 2743.29 13.15
American Express Bank 1418.86 6.80 P1+
Jammu & Kashmir Bank Ltd. 737.82 3.54 P1+
Jammu & Kashmir Bank Ltd. 586.61 2.81 P1+
PSU/PFI Bonds/Banks 603.54 2.89
Bharat Heavy Electricals Ltd.** 603.54 2.89 AAA
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Securitised Debt 80.83 0.39
Ind Retail ABS Trust Ser XIII A3PTC** 80.83 0.39MAAA(SO)
Cash & Current Assets 5142.72 24.65
Net Assets 20865.63 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 44.80%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
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.
Date of inception / takeover:
October 23, 1995
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: NILExit Load: <= Rs 10 lakhs: 0.60% if redeemed / switched out with in 180 days from the date of allotment.> 10 Lakhs: Nil
Benchmark:
CRISIL Composite Bond Fund Index
Average Maturity:
0.88 Years
Corpus:
Rs. 208.65 Crores
10.111229.2995
Interest Rate Sensitivity: Medium
^ # for methodology please refer page 37
(Past performance is no guarantee of future results.)
AAAf by CRISIL*
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
^^ for methodology please refer page 37
(Past performance is no guarantee of future results.)
CRISIL~CPR 2 Open Ended Debt Category^^
J u l y 2 0 0 6
NAV Performance
BIP Gr Crisil Composite Bond Fund Index
Rating Profile
Asset Allocation
0.39%
2.89%
13.15%
17.40%
24.65%
41.52%
Securitised Debt
PSU/PFI Bonds/Banks
Money MarketInstruments
Floating RateInstruments
Cash & Current Assets
Corporate Debt
12.88%
24.65%
62.48%
AA
Cash & Current Assets
AAA
3.712.84 3.1
7.42
10.57
2.9 3.03 3.16
0
2
4
6
8
10
12
1 Year 2 Years 3 Years 5 Years Since Inception
Birla Sun Life Income Fund
27
Money Market Instruments 1151.65 32.74
State Bank of Patiala 378.90 10.77 A1+
The Hongkong & Shanghai Banking Corp Ltd 286.22 8.14 F1+
ABN Amro Bank 245.66 6.98 P1+
American Express Bank 240.87 6.85 A1+
Securitised Debt 536.54 15.25
India Infrastructure Developers Limited** 282.70 8.04 AAA(SO)
Goldstar Trust (CITI)** 164.71 4.68 AAA(SO)
India MBS 2003 Series III Trust** 38.22 1.09 AAA(SO)
Fleet Trust April 2004 Series** 37.87 1.08 AAA(SO)
Indian Retail ABS Trust SerXIII A3** 13.04 0.37 MAAA(SO)
Corporate Debt 412.38 11.72
Cholamandalam DBS Finance Ltd.** 218.73 6.22 LAA
Mahindra & Mahindra Financial Serv. Ltd.** 193.65 5.50 AA+
PSU/PFI Bonds/Banks 201.18 5.72
Bharat Heavy Electricals Ltd.** 201.18 5.72 AAA
Cash & Current Assets 1215.89 34.57
Net Assets 3517.64 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 32.70%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
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.
Date of inception / takeover:
March 03, 1997
NAV: Rs.
Half Yearly Dividend Growth Quarterly Dividend 54 EA Dividend54 EA Growth54 EB Dividend54 EB Growth
Load Structure:
Entry Load: NILExit Load: <= Rs 10 lakhs: 0.60% if redeemed / switched out with in 180 days from the date of allotment.> 10 Lakhs: Nil
Benchmark:
Average Maturity:
0.58 Years
Corpus:
Rs. 35.17 Crores
10.620624.373510.096110.732724.356510.744324.2031
CRISIL Composite Bond Fund Index
Interest Rate Sensitivity: Medium
Portfolio
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
J u l y 2 0 0 6
BIP Gr Crisil Composite Bond Fund Index
Rating Profile
NAV Performance Asset Allocation
5.72%
11.72%
15.25%
32.74%
34.57%
PSU/PFI Bonds/Banks
Corporate Debt
Securitised Debt
Money Market Instruments
Cash & Current Assets
11.72%
34.57%
53.71%
AA
Cash & Current Assets
AAA
4.293.43 3.69
7.63
10.02
2.9 3.03 3.16
0
2
4
6
8
10
12
1 Year 2 Years 3 Years 5 Years Since Inception
Birla Gilt Plus
28
Liquid Plan
Treasury Bills 2991.88 53.34364 Day TBill 7 JULY 06 1498.54 26.72 Sovereign91 Day TBill 28 JULY 06 1493.34 26.63 Sovereign
Cash & Current Assets 2616.89 46.66
Net Assets 5608.77 100.00
Issuer Market Value % to Net RatingRs. in. Lacs Assets
PF Plan
Government Bond 4115.25 49.60
Govt Bond 9.39% 2011 2673.75 32.23 Sovereign
Govt Bond 7.37% 2014 1441.50 17.37 Sovereign
Treasury Bills 995.56 12.00
91 Day TBill 28 JULY 06 995.56 12.00 Sovereign
Cash & Current Assets 3185.93 38.40
Net Assets 8296.74 100.00
Regular Plan
Government Bond 4959.00 69.29
Govt Bond 7.37% 2014 1922.00 26.85 Sovereign
Govt Bond 9.39% 2011 1604.25 22.41 Sovereign
Govt Bond 7.94% 2021 951.00 13.29 Sovereign
Govt Bond 7.59% 2016 481.75 6.73 Sovereign
Cash & Current Assets 2198.09 30.71
Net Assets 7157.09 100.00
Interest Rate Sensitivity: Regular Plan/PF Plan - High, Liquid Plan - Low
@ICRA Online Awards 2006 : GOLD Ranked MFR1 in Open Ended Gilt Schemes - Short Term (3 year)
(Past performance is no guarantee of future results.)
PortfolioAs on June 30, 2006
Investment Objective:
An Open-ended government securities scheme with the objective to generate income and capital appreciation through investments exclusively in Government Securities.
Date of inception / takeover:
October 12, 1999
NAV: Rs.
Liquid PlanDiv.-Payout/Reinvest Growth Annual Dividend PF PlanDiv.-Payout/Reinvest Growth Annual Dividend Regular PlanDiv.-Payout/Reinvest Growth Annual Dividend
Load Structure:
Liquid Plan, Regular Plan & PF Plan-Quarterly / Annual Dividend:Entry Load: NIL; Exit Load: NILPF Plan - Growth: Entry Load: NILExit Load: 1.00% if redeemed / switched out within 365 days from date of allotment.
Benchmark:
Liquid Plan - PF Plan - Regular Plan -
Average Maturity:
Liquid Plan - 0.03 YearsPF Plan - 2.98 YearsRegular Plan - 5.86 Years
Corpus:
Liquid Plan - Rs. 56.08 CroresPF Plan - Rs. 82.96 CroresRegular Plan - Rs. 71.57 Crores
10.594417.294811.5165
10.473419.788419.7892
10.894421.961122.0060
I-Sec Si-BEX
I-Sec Li-BEX
I-Sec Li-BEX
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
««««Value Research Rating#- Birla Gilt Plus - Liquid Plan
(Past performance is no guarantee of future results.)
@ # for methodology please refer page 37
J u l y 2 0 0 6
PF Plan - Asset Allocation
12.00%
38.40%
49.60%
Treasury Bills
Cash & Current Assets
Government Bond
Liquid Plan - Asset Allocation Regular Plan - Asset Allocation
30.71%
69.29%
Cash & Current Assets
Government Bond
46.66%
53.34%
Cash & Current Assets
Treasury Bills
NAV Performance
NAV Performance
NAV Performance
BGPL Gr I-Sec Si-BEX
BGP PFP Gr I-Sec Li-BEX
Birla GPRP Gr I-Sec Li-BEX
4.94 4.98 4.73
7.12
8.49
4.944.48
4.91
0
1
2
3
4
5
6
7
8
9
1 Year 2 Years 3 Years 5 Years Since Inception
2.792.19
3.08
9.17
10.68
-0.22
1.712.54
-2
0
2
4
6
8
10
12
1 Year 2 Years 3 Years 5 Years Since Inception
3.252.61
3.41
10.59
12.42
-0.22
1.712.54
-2
0
2
4
6
8
10
12
14
1 Year 2 Years 3 Years 5 Years Since Inception
Birla Sun Life Government Securities Fund
29
Long Term Plan
Cash & Current Assets 269.88 100.00
Net Assets 269.88 100.00
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
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.
Date of inception / takeover:
October 28, 1999
NAV: Rs.
Long Term Plan: Dividend Growth Short Term Plan:Dividend Growth
Load Structure:
Entry Load: NILExit Load: NIL
Benchmark:
Long Term Plan - I-Sec Li-BEX
Short Term Plan - I-Sec Si-BEX
Average Maturity:
Long Term Plan - 0.00 Years
Short Term Plan - 0.00 Years
Corpus:
Long Term Plan - Rs. 2.69 Crores
Short Term Plan - Rs. 0.39 Crores
10.377319.1304
10.063315.0917
Interest Rate Sensitivity: Long Term Plan - High, Short Term Plan - Low
Portfolio
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Short Term Plan
Cash & Current Assets 39.37 100.00
Net Assets 39.37 100.00
J u l y 2 0 0 6
Short Term Plan - NAV PerformanceLong Term Plan - NAV Performance
Short Term Plan - Asset Allocation
Short Term Plan - Rating ProfileLong Term Plan - Rating Profile
Long Term Plan - Asset Allocation
100.00%Cash & Current Assets100.00%Cash & Current Assets
100.00%Cash & Current Assets 100.00%Cash & Current Assets
2.952.14
3.21
9.3410.2
-0.22
1.712.54
-2
0
2
4
6
8
10
12
1 Year 2 Years 3 Years 5 Years Since Inception
Birla SunLife G Sec Fund - LT - Growth I-Sec Li-BEX
3.74
2.44 2.49
4.85
6.36
4.944.48
4.91
0
1
2
3
4
5
6
7
1 Year 2 Years 3 Years 5 Years Since InceptionBirla SunLife G Sec Fund - STD - Growth I-Sec Si-BEX
Birla Bond Plus
As on June 30, 2006
Investment Objective:
An Open-ended short term income scheme with the objective to generate regular returns through investments in debt and money market securities.
Date of inception / takeover:
November 26, 2001
NAV: Rs.
Retail Dividend Retail Growth Institutional Dividend Institutional Growth
Load Structure:
Entry Load: NILExit Load: NIL
Benchmark:
CRISIL Short-Term Bond Fund Index
Average Maturity:
0.63 Years
Corpus:
Rs. 101.25 Crores
11.251713.218910.494413.3261
30
Corporate Debt 3736.82 36.91
CitiFinancial Consumer Finance (I) Ltd.** 1270.80 12.55 AAA
Berger Paints India Ltd.** 1000.00 9.88 P1+
Housing Development Finance Corp. Ltd.** 502.70 4.96 AAA
Hindalco Industries Ltd.** 500.04 4.94 AAA
Reliance Industries Ltd.** 453.21 4.48 AAA
Infrastructure Leasing & Fin. Ser. Ltd.** 10.07 0.10 AAA
Money Market Instruments 3366.47 33.25
ICICI Bank Ltd. 1859.16 18.36 P1+
State Bank of Patiala 947.24 9.36 A1+
State Bank of Indore 560.07 5.53 P1+
PSU/PFI Bonds/Banks 1608.00 15.88
Export-Import Bank of India** 1005.06 9.93 AAA
Bharat Heavy Electricals Ltd.** 502.95 4.97 AAA
Industrial Development Bank of India Ltd** 99.99 0.99 AA+
Securitised Debt 651.89 6.44
Ind Retail ABS Trust Ser XIII A3PTC** 565.83 5.59 MAAA(SO)
Loan Sec Trust SrXII NTPC (ICICI)** 82.94 0.82 LAAA(SO)
VE Trust 4 Sr A1 MMFSL (UTI Bank)** 3.12 0.03 AAA(SO)
Cash & Current Assets 762.01 7.53
Net Assets 10125.20 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 59.23%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Interest Rate Sensitivity: Low to Medium
(Past performance is no guarantee of future results.)
AAAf by CRISIL*
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
^@ # for methodology please refer page 37
««««Value Research Rating#- Birla Bond Plus - Retail Plan
(Past performance is no guarantee of future results.)
NAV Performance Asset Allocation
6.44%
7.53%
15.88%
33.25%
36.91%
Securitised Debt
Cash & Current Assets
PSU/PFI Bonds/Banks
Money MarketInstruments
Corporate Debt5.7 5.55 5.32
6.27
4.3 4.23 4.24
0
1
2
3
4
5
6
7
1 Year 2 Years 3 Years Since Inception
BBP Retail Gr CRISIL Short-Term Bond Fund Index
Rating Profile
0.99%
7.53%
91.49%
AA
Cash & Current Assets
AAA
Birla Sun Life Short Term Fund
31
Money Market Instruments 727.61 34.46
State Bank of Patiala 247.06 11.70 P1+
Jammu & Kashmir Bank 245.94 11.65 P1+
The Hongkong & Shanghai Banking Corp Ltd 234.61 11.11 F1+
Corporate Debt 15.10 0.72
Infrastructure Leasing & Fin. Ser. Ltd.** 15.10 0.72 AAA
Cash & Current Assets 1368.84 64.83
Net Assets 2111.55 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 0.72 %
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
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.
Date of inception / takeover:
April 19, 2002
NAV: Rs.
Dividend Growth
Load Structure:
Entry Load: NILExit Load: 1% if redeemed/switched out within 3 months from the date of allotment.
Benchmark:
CRISIL Short-Term Bond Fund Index
Average Maturity:
0.21 Years
Corpus:
Rs. 21.11 Crores
10.085712.6102
Interest Rate Sensitivity: Low to Medium
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
Rating Profile
0.72%
34.46%
64.83%
Corporate Debt
Money Market Instruments
Cash & Current Assets5.22
4.94 4.96
5.68
4.3 4.23 4.24
5.16
0
1
2
3
4
5
6
1 Year 2 Years 3 Years Since Inception
Birla SunLife Short Term Fund - Growth CRISIL Short-Term Bond Fund Index
35.17%
64.83%
AAA
Cash & Current Assets
Birla Floating Rate Fund
32
Long Term Plan
Floating Rate Instruments 10445.59 82.28
UTI Bank Ltd. 2498.33 19.68 LAA+
Industrial Development Bank of India Ltd. 2036.23 16.04 AA+
ICICI Bank Ltd. 1502.45 11.83 CARE AAA
Citicorp Finance (I) Ltd. 1007.32 7.93 AAA
Infrastructure Development Fin. Co. Ltd. 1001.23 7.89 AAA
LIC Housing Finance Ltd. 998.71 7.87 AAA
Mahindra & Mahindra Financial Ser Ltd. 500.00 3.94 AA+
Cholamandalam DBS Finance Ltd. 500.00 3.94 LAA
Housing Development Finance Corp. Ltd. 401.33 3.16 AAA
Money Market Instruments 941.60 7.42
UCO Bank Ltd. 941.60 7.42 P1+
Cash & Current Assets 1308.48 10.31
Net Assets 12695.68 100.00
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Short Term Plan
Floating Rate Instruments 24929.61 80.41
Housing Development Finance Corp. Ltd. 5202.42 16.78 AAA
LIC Housing Finance Ltd. 4493.58 14.49 AAA
Export-Import Bank of India 3699.53 11.93 AAA
ICICI Bank Ltd. 3300.00 10.64 AAA
Mahindra & Mahindra Financial Ser. Ltd. 3002.74 9.68 AA+
Housing Development Finance Corp. Ltd. 2022.99 6.52 LAAA
Industrial Development Bank of India Ltd. 1005.98 3.24 AA+
Infrastructure Development Fin. Co. Ltd. 1001.23 3.23 AAA
Rabo India Finance Pvt. Ltd. 500.65 1.61 AAA
UTI Bank Ltd. 500.23 1.61 LAA+
Sundaram Finance Ltd. 100.28 0.32 MAAA
United Phosphorous Ltd. 100.00 0.32 AA
Money Market Instruments 1883.66 6.08
ICICI Bank Ltd. 942.05 3.04 P1+
UCO Bank Ltd. 941.60 3.04 P1+
Cash & Current Assets 4191.02 13.52
Net Assets 31004.29 100.00
As on June 30, 2006
Investment Objective:
An Open-ended income scheme with the objective to generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments.
Date of inception / takeover:
June 04, 2003
NAV: Rs.
Long Term:Dividend Growth Short Term:Weekly Dividend Growth Daily Dividend Institutional Plan-Daily DividendInstitutional Plan-GrowthInstitutional Plan-Weekly Dividend
Load Structure:
Long Term:Entry Load: NilExit Load: <= Rs 10 lakhs: 0.50% if redeemed / switched out with in 180 days from the date of allotment.> 10 Lakhs: NilShort Term:Entry Load: NILExit Load: NIL
Benchmark:
Long Term - Crisil Liquid Fund Index
Short Term - Crisil Liquid Fund Index
Average Maturity:
Long Term - 0.31 Years
Short Term - 0.33 Years
Corpus:
Long Term - Rs. 126.95 CroresShort Term - Rs. 310.04 Crores
10.403511.6937
10.387011.691210.0015
10.008610.3960
10.0000
Interest Rate Sensitivity: Low
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
+'mfAAA' by ICRA+
The grading has been assigned by ICRA and indicates highest quality. The investment quality is similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.
J u l y 2 0 0 6
Long Term - NAV Performance Short Term - NAV Performance
Long Term Plan - Asset Allocation Short Term Plan - Asset Allocation
5.27 5.295.23 5.23
5.31
4.83
4.58 4.57
4.2
4.4
4.6
4.8
5
5.2
5.4
1 Year 2 Years 3 Years Since Inception
Birla Floating Rate Fund - LTP - Growth Crisil Liquid Fund Index
5.755.45 5.23 5.225.31
4.83 4.58 4.57
0
1
2
3
4
5
6
1 Year 2 Years 3 Years Since Inception
Birla Floating Rate Fund - STP - Growth Crisil Liquid Fund Index
7.42%
10.31%
82.28%
Cash & Current Assets
Money MarketInstruments
Floating RateInstruments
6.08%
13.52%
80.41%
Cash & Current Assets
Money MarketInstruments
Floating RateInstruments
+The grading has been assigned by ICRA and indicates highest quality. The investment quality is
similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.
+'mfA1+' by ICRA
Money Market Instruments 343360.48 49.65ICICI Bank Ltd. 35651.31 5.15 P1+Union Bank of India 25539.38 3.69 P1+Housing Development Finance Corp. Ltd. 24309.63 3.51 A1+Tata Motors Ltd. 14736.47 2.13 P1+Industrial Development Bank of India 13753.60 1.99 P1+Hongkong & Shanghai Banking Corp. Ltd. 13325.78 1.93 F1+State Bank of Patiala 12600.70 1.82 A1+State Bank of Indore 10270.16 1.48 P1+Federal Bank 10129.44 1.46 P1+National Housing Bank 9955.47 1.44 F1+Standard Chartered ANZ 9671.30 1.40 P1+Jammu & Kashmir Bank Ltd. 9659.16 1.40 P1+Apollo Tyres Ltd. 9458.18 1.37 P1+Punjab National Bank 7917.62 1.14 A1+ABN Amro Bank 7605.76 1.10 P1+ICICI Bank Ltd. 7399.82 1.07 A1+National Housing Bank 7373.05 1.07 P1+State Bank of Saurashtra 7052.54 1.02 P1+IndusInd Bank Ltd. 6453.44 0.93 P1+American Express Bank 6078.33 0.88 A1+State Bank of Saurashtra 5860.98 0.85 A1+American Express Bank 5675.42 0.82 P1+Kotak Mahindra Bank Ltd. 5598.16 0.81 P1+Sundaram Finance Ltd 5373.20 0.78 P1+ABN Amro Bank 4929.53 0.71 A1+IndusInd Bank Ltd. 4915.11 0.71 F1+Housing Development Finance Corp. Ltd. 4879.64 0.71 P1+Uco Bank 4733.85 0.68 P1+GE Capital Services India Ltd 4707.60 0.68 P1+Aditya Birla Nuvo 4699.03 0.68 A1+ING Vysya Bank Ltd. 3956.20 0.57 P1+State Bank of Travancore Ltd. 3945.45 0.57 P1+State Bank Of Bikaner And Jaipur 3886.24 0.56 P1+Rabo India Finance Pvt. Ltd. 3566.76 0.52 P1+Ballarpur Industries Ltd. 2991.27 0.43 F1+Infrastructure Development Fin. Company 2489.72 0.36 P1+Kotak Mahindra Prime Ltd. 2456.20 0.36 P1+State Bank of Travancore 2426.02 0.35 P1+Union Bank of India 2423.02 0.35 A1+SBI Cards Payments Services Ltd. 2341.58 0.34 P1+State Bank of Hyderabad 2329.13 0.34 P1+NRB Bearing Ltd. 1492.70 0.22 P1+UTI Bank Ltd. 1444.23 0.21 A1+Bajaj Auto Finance Ltd. 999.00 0.14 P1+OCL India Ltd. 998.90 0.14 A1+Rico Auto Industries Ltd. 996.54 0.14 A1+Carborundum Universal Ltd. 995.85 0.14 P1+ING Vysya Bank Ltd. 987.55 0.14 P1+State Bank of Patiala 741.18 0.11 P1+DIC India Ltd 598.87 0.09 P1+Yes Bank Ltd. 496.10 0.07 A1+Citicorp Finance (I) Ltd. 484.31 0.07 P1+
Floating Rate Instruments 94539.48 13.67Housing Development Finance Corp. Ltd. 13704.04 1.98 LAAACiticorp Finance (I) Ltd. 10278.51 1.49 AAAGE Capital Services India Ltd 10002.19 1.45 AAASundaram Finance Ltd 7000.00 1.01 P1+Housing Development Finance Corp. Ltd. 6801.30 0.98 AAAIndustrial Development Bank of India 6516.52 0.94 AA+UBL Trust Sr 16 5009.30 0.72 AA(SO)Citi Financial Consumer Finance (I) Ltd. 4002.34 0.58 AAAITI October 2005 Trust - (ILFS) 3206.45 0.46 LAAHousing & Urban Developement Corp. Ltd. 3000.00 0.43 PR1+
IndiaRetail ABS Tr44 2809.72 0.41 AAA(SO)Cholamandalam Investments & Finance Ltd. 2500.00 0.36 A1+Kotak Mahindra Bank Ltd. 2500.00 0.36 P1+Hero Honda Finlease Ltd. 2000.00 0.29 P1+Sundaram Finance Ltd 2000.00 0.29 LAAASterlite Industries (India) Ltd. 1600.00 0.23 P1+Cholamandalam Investments & Finance Ltd. 1500.18 0.22 LAAExport-Import Bank of India 1297.72 0.19 AAAFloat Ind Retail ABSTrust Ser XIII A3PTC 1225.29 0.18 MAAAICICI Bank Ltd. 1001.63 0.14 CARE AAACholamandalam Investments & Finance Ltd. 1000.00 0.14 MAA+Nirma Ltd. 1000.00 0.14 P1+Indian Ret ABS Ser XXXII - Pac Sr 633.04 0.09 LAAA(SO)Secured Loan Rec.Sec.Trust Sr3 (ICICI) 606.75 0.09 LAAAICICI Securities Ltd. 500.00 0.07 AAAUnion Bank of India 500.00 0.07 AA+LIC Housing Finance Ltd. 498.22 0.07 AAAFleet Trust Jan 2004 Series A5 447.91 0.06 AAA(SO)Fleet Trust Jan 05 A2+90 432.37 0.06 AAA(SO)Sundaram Finance Ltd 401.12 0.06 MAAAAsset Securitisation Trust Dec2004 IV A6 364.19 0.05 AAA(SO)IGEG Loan Trust Series I (GLENMAK PHARM) 200.69 0.03 A1+(SO)
Securitised Debt 21720.72 3.14Hutchison Essar Ltd. ** 7331.87 1.06 A1+(SO)Indian Retail ABS Trust 60 Sr-A1 (ICICI) ** 2432.89 0.35 A1+(SO)Indian Retail ABS Trust Sr-49(A3)18Apr07 ** 2418.49 0.35 AAA(SO)Indian Retail ABS Trust Sr.45(Ptc Sr A2) ** 1979.36 0.29 P1+(SO)Bhpc Auto Securitisation Trust Sept A2 ** 1812.78 0.26 LAAA(SO)Indian Retail Abs Trust Sr 49 (A2) ** 1733.09 0.25 P1+(SO)Indian Corp. Loan Securitisation Trust ** 1513.37 0.22 A1+(SO)BHPC Auto SecTrust Ser A1 TELCO 15Jun04 **1123.91 0.16 AAA(SO)Indian Retail ABS Trust Series XXV - A2 ** 894.88 0.13 AAA(SO)Indian Retail ABS Trust Series XXXIII ** 476.96 0.07 AAA(SO)VE Trust 4 Sr A1 MMFSL (UTI Bank) ** 3.12 0.00 AAA(SO)
Corporate Debt 15312.14 2.21GE Capital Services India Ltd. ** 4001.62 0.58 AAAHindalco Industries Ltd. ** 2000.18 0.29 AAACholamandalam DBS Finance Ltd. ** 2000.00 0.29 A1+Hindustan Construction Company Ltd. ** 1500.00 0.22 PR1+Rural Electrification Corporation Ltd.** 1496.98 0.22 AAABajaj Hindusthan Ltd. ** 1300.00 0.19 F1+Housing Development Finance Corp. Ltd. ** 1013.86 0.15 AAABerger Paints India Ltd. ** 1000.00 0.14 P1+Cholamandalam DBS Finance Ltd. ** 500.00 0.07 P1+National Bank for Agri. & Rural Devt. ** 499.50 0.07 AAA
PSU/PFI Bonds/Banks 14175.01 2.05National Bank for Agri. & Rural Devt. ** 5493.46 0.79 AAAIndustrial Development Bank of India ** 3358.70 0.49 AA+Bharat Heavy Electricals Ltd. ** 2011.79 0.29 AAAExport-Import Bank of India ** 1507.72 0.22 AAAPower Grid Corporation of India Ltd. ** 1001.47 0.14 AAAHindustan Aeronautics Ltd. ** 500.90 0.07 AAAIndian Railway Finance Corporation Ltd. ** 300.97 0.04 AAA
Cash & Current Assets 202494.14 29.28
Net Assets 691601.97 100.00
**Represents thinly traded/ non traded securities and illiquid securities Total Percentage of thinly/non traded securities is 7.40%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
Issuer Market Value % to Net RatingRs. in. Lacs Assets
33
Birla Cash Plus
As on June 30, 2006
Investment Objective:
An Open-ended liquid scheme with the objective to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments.
Date of inception / takeover:
June 16,1997
NAV: Rs.
Retail Dividend Retail Growth Institutional Dividend Institutional Plan - Weekly Dividend Option Institutional Plan - Fortnightly Dividend Option Institutional Growth Institutional Premium Plan -Dividend Institutional Premium Plan - Weekly Div. Option Institutional Premium Plan -Fortnightly Dividend Option Institutional Premium Plan - Monthly Dividend Institutional Premium Plan - Growth
Load Structure:
Entry Load: NIL
Exit Load: NIL
Benchmark:
Crisil Liquid Fund Index
Average Maturity:
0.25 Years
Corpus:
Rs. 6916.01 Crores
16.369419.126710.8023
10.8067
10.834219.2466
10.0195
10.0225
10.0711
10.0000
11.2866
Interest Rate Sensitivity: Low
^^ for methodology please refer page 37
(Past performance is no guarantee of future results.)
CRISIL~CPR 2 Open Ended Liquid Category^^
Birla Cash Plan - Retail Plan
#«««««Value Research Rating- Birla Cash Plus - Institutional Premium Plan
#««««Value Research Rating
- Birla Cash Plus - Retail Plan
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
Rating Profile
2.05%
2.21%
3.14%
13.67%
29.28%
49.65%
PSU/PFI Bonds/Banks
Corporate Debt
Securitised Debt
Floating RateInstruments
Cash & Current Assets
Money MarketInstruments
3.05
5.85.31 5.02
5.8
7.43
2.9
5.314.83 4.58
0
1
2
3
4
5
6
7
8
6 Months 1 Year 2 Years 3 Years 5 Years Since Inception
BCP Retail Gr Crisil Liquid Fund Index
3.05%
29.27%
67.68%
AA
Cash & Current Assets
AAA
Birla Sun Life Cash Manager
34
Money Market Instruments 9857.62 60.90
Allahabad Bank Ltd. 2468.21 15.25 PR1+
ABN Amro Bank 2466.65 15.24 P1+
ICICI Bank Ltd. 2466.61 15.24 A1+
Shree Cements Ltd. 999.02 6.17 PR1+
Gruh Finance Ltd. 495.67 3.06 P1+
State Bank of Indore 492.24 3.04 P1+
The Hongkong & Shanghai Banking Corp. Ltd. 469.22 2.90 F1+
Floating Rate Instruments 1600.00 9.89
Rabo India Finance Pvt. Ltd. 1000.00 6.18 P1+
Housing Development Finance Corp. Ltd. 600.00 3.71 AAA
Corporate Debt 1500.00 9.27
Bombay Dyeing & Mfg. Co. Ltd.** 1500.00 9.27 Unrated
PSU/PFI Bonds/Banks 1049.95 6.49
Industrial Development Bank of India Ltd.** 1049.95 6.49 AA+
Securitised Debt 38.24 0.24
Goldstar Trust July 2004 A1** 38.24 0.24 AAA(SO)
Cash & Current Assets 2140.14 13.22
Net Assets 16185.93 100.00
**Represents thinly traded/ non traded securities and illiquid securities
Total Percentage of thinly/non traded securities is 15.99%
Issuer Market Value % to Net RatingRs. in. Lacs Assets
As on June 30, 2006
Investment Objective:
An Open-ended liquid scheme with the objective to provide current income which is consistent with a portfolio that offers investors superior liquidity by investing 100% in a diversified portfolio of debt (Fixed Income) and money market securities.
Date of inception / takeover:
May 14, 1998
NAV: Rs.
Institutional Daily Dividend Retail Growth Institutional Growth Retail Weekly Dividend Institutional Weekly Dividend
Load Structure:
Entry Load: NILExit Load: NIL
Benchmark:
Crisil Liquid Fund Index
Average Maturity:
0.18 Years
Corpus:
Rs. 161.85 Crores
10.002117.461211.842110.005510.0057
Interest Rate Sensitivity: Low
^ # for methodology please refer page 37
(Past performance is no guarantee of future results.)
AAAf by CRISIL*
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
««««Value Research Rating#- BSL Cash Manager - Institutional Plan
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
J u l y 2 0 0 6
NAV Performance Asset Allocation
0.24%
6.49%
9.27%
9.89%
13.22%
60.90%
Securitised Debt
PSU/PFI Bonds/Banks
Corporate Debt
Floating Rate Instruments
Cash & Current Assets
Money Market Instruments
2.97
5.655.22 5.1
5.84
7.09
2.96
5.314.83 4.58
0
1
2
3
4
5
6
7
8
6 Months 1 Year 2 Years 3 Years 5 Years Since InceptionBirla SunLife Cash Manager - Growth Crisil Liquid Fund Index
Rating Profile
6.49%
9.27%
13.22%
71.02%
AA
Unrated
Cash & Current Assets
AAA
Birla Asset Allocation Fund
35
AGGRESSIVE PLAN
Mutual Fund Units 715.91 95.74
Birla Top 100 Fund. 245.46 32.83
Birla Index Fund 241.06 32.24
Birla Sunlife Cash Manager-Retail Growth 101.76 13.61
Birla Advantage Fund 68.94 9.22
Birla Bond Plus 46.34 6.20
Birla Gilt Plus Inv 12.36 1.65
Cash & Current Assets 31.85 4.26
Net Assets 747.77 100.00
Issuer Market Value % to NetRs. in. Lacs Assets
MODERATE PLAN
Mutual Fund Units 509.05 93.13
Birla Index Fund. 166.69 30.49
Birla Sunlife Cash Manager-Retail Growth. 145.78 26.67
Birla Advantage Fund. 84.80 15.51
Birla Top 100 Fund. 56.29 10.30
Birla Bond Plus. 55.49 10.15
Cash & Current Assets 37.56 6.87
Net Assets 546.61 100.00
CONSERVATIVE PLAN
Mutual Fund Units 600.12 77.13
Birla Sunlife Cash Manager-Retail Growth. 231.09 29.70
Birla Bond Plus. 213.84 27.48
Birla Index Fund. 85.47 10.98
Birla Top 100 Fund. 69.72 8.96
Cash & Current Assets 177.95 22.87
Net Assets 778.06 100.00
As on June 30, 2006
Investment Objective:
An Open-ended Fund of Funds scheme with the objective to provide income and capital appreciation along with diversification by investing in a basket of debt and equity Mutual Fund schemes in line with the risk profile of the investor.
Date of inception / takeover:
January 23, 2004
NAV: Rs.
Aggressive PlanDividend Growth Conservative PlanDividendGrowth Moderate PlanDividendGrowth
Load Structure:
Entry Load:Aggressive Plan: 1.50%Moderate Plan: 1.00%Conservative Plan: 0.50%Exit Load: NIL
Benchmark:
Aggressive Plan - S&P CNX Nifty
Moderate Plan -Crisil Balanced Fund Index
Conservative Plan -Crisil MIP Blended Index
Corpus:
Aggressive Plan - 7.47 Crores
Moderate Plan - 5.46 Crores
Conservative Plan - 7.78 Crores
16.4788 16.4803
12.8533 12.8536
14.8799 14.8799
Past performance may or may not be sustained in future. Performance has been calculated on the basis of the Advertisement Code as prescribe under SEBI (Mutual Funds) Regulations 1996. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Portfolio
# for methodology please refer page 37
(Past performance is no guarantee of future results.)
««««Value Research Rating#- BAAF - Conservative Plan
J u l y 2 0 0 6
Moderate Plan - Asset Allocation
6.87%
93.13%
Cash & Current Assets
Mutual Fund Units
Aggressive Plan - Asset Allocation Conservative Plan - Asset Allocation
22.87%
77.13%
Cash & Current Assets
Mutual Fund Units
4.26%
95.74%
Cash & Current Assets
Mutual Fund Units
NAV Performance
NAV Performance
NAV Performance
30.22
35.93
23.71
41.56 42.72
25.91
0
5
10
15
20
25
30
35
40
45
1 Year 2 Years Since Inception
Birla AAF - Aggressive Plan - Growth S&P Nifty
13.64 14.08
11.28
7.72 8
5.69
0
2
4
6
8
10
12
14
16
1 Year 2 YearsBirla AAF - Conservative Plan - Growth Crisil MIP Blended Index
22.61
27.14
18.44
22.48 23.62
14.94
0
5
10
15
20
25
30
1 Year 2 Years Since InceptionBirla AAF - Moderate Plan - Growth Crisil Balanced Fund Index
Since Inception
36
Issuer Sector Market Value % to Net(US Dollars) Assets
TOP 20 EQUITY INVESTMENTS Infosys Technologies Ltd. Software 7,132,686.54 6.28Bharti Televentures Ltd. Telecom-Services 6,732,403.57 5.93State Bank Of India Banks 6,343,628.61 5.58Indian Hotels Co Ltd. Hotels 5,481,303.12 4.82Satyam Computers Services Ltd. Software 4,951,818.37 4.36Tata Motors Ltd. Auto 4,916,622.36 4.33ITC Ltd. Consumer Non Durables 4,908,319.35 4.32United Phosphorus Ltd. Pesticides 4,501,718.15 3.96Bharat Heavy Electricals Ltd. Industrial Capital Goods 4,494,869.39 3.96Hero Honda Ltd. Auto 4,394,592.90 3.87Associated Cement Companies Ltd. Construction Materials 3,831,543.99 3.37Mcdowell & Company Limited Consumer Non Durables 3,654,473.49 3.22Tata Consultancy Services Ltd Software 3,025,757.25 2.66Pfizer India Ltd. Pharmaceuticals 3,000,177.04 2.64Glaxo Smithkline Pharma Ltd. Pharmaceuticals 2,950,243.82 2.60Grasim Industries Ltd. Cement 2,943,393.14 2.59Larsen & Toubro Ltd. Construction & Engineering 2,769,439.09 2.44Subex Systems Ltd. Software 2,749,221.81 2.42ICICI Bank Ltd. Banks 2,442,841.58 2.15Housing Development Finance Corporation Ltd. Finance 2,400,849.86 2.11Total of top 20 Equity Holdings 83,625,903 73.60Other Equity Investments 19,642,049 17.29Total Equity Holdings 103,267,952.12 90.88CALL & CALL EQUIVALENTS :Cash and Cash Equivalent 10,193,821.60 8.98CORPORATE DEBT :Trent Ltd 163,603.52 0.14TOTAL 113,625,377.24 100.00OTHER NET ASSETS (SUB FUND) 1,116,542.35 OTHER NET ASSETS (MAIN FUND) (593,451.30)NET ASSETS 114,148,468.29
As on June 30, 2006
Investment Objective:
An Open-ended growth scheme with the objective of long-term appreciation through investment primarily in equity related securities of companies in India that are run by efficient management, have a sustainable and robust business model and are available at reasonable valuations.
Date of inception / takeover:
August 8, 1996
NAV:
$ per Class C Share : 127.41
Conversion Rate:
1USD = INR 45.89
Benchmark:
BSE Sensex and MSCI (India)
AUM:
USD 114.14 Million
Bloomberg Ticker Code:
INDADVC MP
India Advantage Fund Ltd.(For Non-Resident Indians and Eligible Foreign Nationals)
Birla Sun Life AMC (Mauritius) Limited India Advantage Fund
awarded 1st Place in the Standard & Poor's Five YearsOffshore Funds Equity India Sector out of 11 funds
2004 @@
2004
@@ for methodology please refer page 37
(Past performance is no guaranteeof future results.)
3rd consecutive award since 2002.
Portfolio
J u l y 2 0 0 6
NAV Performance CAGR Returns (%)
India Advantage Fund Ltd.
Sensex
MSCI
Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.
Asset Allocation
Investment via sub-fund, India Advantage (Offshore) Fund, are stated at market/fair value at the date of determination. Securities listed on a recognised stock exchange are valued at the last quoted closing price on the principal exchange on which the security istraded Non-traded securities are valued at amortised cost and/or fair value as determined in good faith by Birla Sun Life Asset Management Company Limited, India, Conversion Rate: 1 USD = INR 45.89
0.14%0.82%
1.25%1.28%
2.11%2.59%
3.37%3.64%
4.28%4.82%
5.26%5.65%5.93%
6.77%7.54%
8.19%8.97%
11.65%15.72%
Trent Ltd - WarrantsPaper Products
RetailingFerrous Metals
FinanceCement
Construction MaterialsAgricultural Products
Construction & EngineeringHotels
PesticidesIndustrial Capital Goods
Telecom-ServicesPharmaceuticals
Consumer Non DurablesAuto
Cash and Cash EquivalentBanks
Software
32.4
44.1
56.6
41.7
29.4
47.5 48.743.2
25.1
12.5
36.3
45.541.6
24.8
10.7
0
10
20
30
40
50
60
1 Year 2 Year 3 Year 5 Year Inception
AddendumsJ u l y 2 0 0 6
37
ADDENDUM TO THE OFFER DOCUMENTS OF SCHEMES OF BIRLA MUTUAL FUNDNOTICE
Mr. Mahesh A. Chhabria Fund Manager, has ceased to be a part of Birla Sun Life Asset Management Company Ltd.In view of the same, the details of Mr. Mahesh A. Chhabria are being deleted from the Offer Documents.Mr. Satyabrata Mohanty shall now be designated Fund Manager for Birla Fixed Term Plan - Series E, Series F, SeriesG, Series H, Quarterly Series 1 & Quarterly Series 2.This Addendum forms an integral part of the Offer Documents of the respective schemes of Birla Mutual Fund readwith the addenda issued thereunder. Date: June 7, 2006
ADDENDUM TO THE OFFER DOCUMENTS/ KEY INFORMATION MEMORANDUM CUM APPLICATION FORM OF ALL THE SCHEMES OF BIRLA MUTUAL FUND.
NOTICE
Notice is hereby given that with effect from June 22, 2006, the following Investor Service Centers of M/s. ComputerAge Management Services (P) Ltd., will be added to Official Points of Acceptance of Transactions for Schemes ofBirla Mutual Fund (except for Birla Cash Plus, Birla Sun Life Cash Manager and Birla Floating Rate Fund Short TermPlan).Official Points of Acceptance of TransactionsAjmer : Shop No. S - 5, Second Floor, Swami Complex, Ajmer - 305 001. Tel.: (0145) 329 2040.Gorakhpur : Shop No. 3, 2nd Floor, Cross Road, The Mall, A. D. Chowk Bank Road, Gorakhpur - 273 001
Tel.: (0551) 329 4771.Gurgaon : 2319, Block 3, 1st Floor, Opp. Air Force Golden Jubilee School, Sector 14, Delhi Road,
Gurgaon - 122 001. Tel.: (0124) 326 3763, 326 3763.Sambalpur : Opp Town High School, Sansarak, Sambalpur - 768 001 . Tel.: (0663) 329 0591.Erode : 199/1, Brough Road, Near Sivaranjani Hotel, Erode - 638 001. Tel.: (0424) 320 7730, 320 7733.Warangal : F13, 1st Floor, BVSS Mayuri Complex, Opp. Public Garden, Lashkar Bazaar, Hanamkonda,
Warangal - 506 001. Tel.: (0870) 320 2063, 320 9927.This Addendum forms an integral part of the Offer Documents / Key Information Memorandum cum Application Formof the respective schemes of Birla Mutual Fund read with the addenda issued thereunder.Date: June 22, 2006
Addendum to the Offer Documents of Birla Sun Life Monthly Income, Birla Sun Life Income Fund, Birla Sun Life Government Securities Fund, Birla Sun Life Cash Manager, Birla Sun Life Short
Term Fund, Birla Sun Life New Millennium Fund, Birla Sun Life Buy India Fund, Birla Sun Life Basic Industries Fund, Birla Sun Life Equity Fund, Birla Sun Life Tax Relief '96, Birla Sun Life '95 Fund,
Birla Sun Life Frontline Equity Fund
NOTICE
M/s Price Waterhouse have been appointed as the statutory auditors for the aforesaid schemes of Birla Mutual Fund for the financial year ended March 31, 2006.The Offer document stands amended, giving effect to the aforesaid change.Date: April 7, 2006
Notice is hereby given that the load structure of Birla Top 100 Fund with effect from May 8, 2006 will be as under:Type of Load Existing Revised (w.e.f. May 8, 2006)Entry Load For Purchase / switch-in of units less than Rs. 5 Crores No Change
in value: 2.25% For Purchase / switch-in of units equalto or greater than Rs. 5 Crores in value: Nil
Exit Load If Reedemed / Switched out within six months from Nildate of allotment:1%
The AMC reserves the right to increase / decrease / introduce a Load at any time in future on a prospective basis. However such increase / decrease / introduction would be subject to the limits prescribed under the regulations. This addendum forms an integral part of the Offer Document issued for the scheme read with the addenda.Date: May 8, 2006
ADDENDUM TO THE OFFER DOCUMENT OF BIRLA TOP 100 FUNDNOTICE
ADDENDUM TO THE OFFER DOCUMENTS OF BIRLA BALANCE, BIRLA INDIA OPPORTUNITIES FUND,NOTICE
Notice is hereby given that the load structure of Birla Balance, Birla India Opportunities Fund, Birla Sun Life Frontline Equity Fund and Birla Sun Life Buy India Fund with effect from April 28,2006 will be as under:Type of Load Existing Revised (w.e.f. April 28, 2006)Entry Load • For Purchase / Switch-in of units No changes
less than Rs. 5 Crores in value, an Entry load of 2.25% is applicable.• For Purchase / Switch-in of units equal to or greater than Rs. 5 Croresin value, No Entry load is applicable.
Exit Load Nil For any Redemption / Switch-out ofunits within six months from the date ofallotment: 1 %
The AMC reserves the right to increase / decrease / introduce a Load at any time in future on a prospective basis. However such increase /decrease /introduction would be subject to the limits prescribed under the regulations.This addendum forms an integral part of the Offer Document issued forthe scheme read with the addenda.Date: April 26,2006
BIRLA SUN LIFE FRONTLINE EQUITY FUND AND BIRLA SUN LIFE BUY INDIA FUND
# Value Research Rankings
^CNBC Award Methodology
@ICRA - Ranking Methodology & Disclaimer:
^^CRISIL CPR - Ranking Methodology & Disclaimer:
Value Research Fund Ratings are a composite measure of historical risk-adjusted returns. In the case of equity and hybrid funds this rating is based on the weighted average monthly returns for the last 3 and 5-year periods. In the case of debt funds this rating is based on the weighted average weekly returns for the last 18 months and 3-year periods and in case of short-term debt funds - weekly returns for the last 18 months. These ratings do not take into consideration any entry or exit load.Five-stars indicate that a fund is in the top 10 per cent of its category in terms of historical risk-adjusted returns. Four stars indicate that a fund is in the next 22.5 per cent of its category, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. The number of schemes in each category is mentioned along side the categories name. Equity Diversified (70), Equity : Index (17), Equity Tax Planning (19), Hybrid Equity Oriented (20), Hybrid: Monthly Income (38), Debt: Medium-term (41), Gilt: Medium and Long-term (41), Gilt: Short-term (16), Debt: Ultra Short-term (35), Debt: Ultra Short-term Institutional (29), Debt: Short-term (22), Debt: Floating Rate Short-term (18) Debt: Floating Rate Long-term (14), Hybrid: Debt-oriented (15). These Fund Ratings are as on June 30, 2006. The Value Research Ratings are published in Monthly Mutual Fund Performance Report and Mutual Fund Insight. The Ratings are subject to change every month. The Rating is based on primary data provided by respective funds, Value Research does not guarantee the accuracy.
CNBC TV18 - CRISIL Mutual Fund of the Year Award for Birla Income Plus Plan B and Birla Bond Plus - Retail Birla Income Plus Plan B was among the 2 schemes that won the CNBC TV18 - CRISIL Mutual Fund of the Year Award in the Open - ended Income Funds Category. In total 13 schemes were eligible for the award universe.Birla Bond Plus - Retail was among the 2 schemes that won the CNBC TV18 - CRISIL Mutual Fund of the Year Award in the Open-ended Income-Short Term Funds Category. In total 14 schemes were eligible for the award universe Schemes present in all four quarter CRISIL CPRs were considered for the award. The awards are based on consistency of schemes' performance in the four quarterly CRISIL CPR rankings released during the calendar year 2004. The individual CRISIL CPR parameter scores averaged for the four quarters and further multiplied by the parameter weight as per the CRISIL CPR methodology to arrive at the final scores. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, Average Maturity, Concentration, Liquidity and Asset Quality of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL CPR is no indication of the performance that can be expected from the scheme in future. A detailed methodology of the CRISIL CPR is available at www.crisil.com. Rankings and Award Source: CRISIL FundServices, CRISIL Ltd.
Birla Gilt Plus – Liquid Plan has been has been ranked ICRA MFR 1 and awarded the ICRA Mutual Fund Gold Award in the category Gilt – Short Term for its 3 year performance till December 31, 2005. The Award indicates the best performance within the stated category, which had a total of 11 similar schemes, including this scheme. The rank is an outcome of an objective and comparative analysis against various performance parameters, including: risk adjusted return; fund size, Sector Concentration, Portfolio turnover, liquidity, company concentration and average maturity. The ranking methodology did not take into account the entry and exit loads imposed by the Fund. ICRA Mutual Fund Award(s)/Rank(s) are not a comment on the prospective returns, appreciation potential or future net asset value of the Mutual Fund Scheme rated. ICRA Mutual Fund Awards are not recommendations to invest or not to invest in the Mutual Fund Schemes awarded. Ranking Source & Publisher: ICRA/ICRA Online Ltd.
BIRLA INCOME PLUS: CRISIL~CPR 2 Open End Debt Scheme, April 2004- March 2006: The composite performance of Birla Income Plus Plan B is “ Good” in the Open End Debt Category, and ranks within the top 30% of the 19 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the 2-year period ended March 31,2006, Average Maturity, Concentration, Liquidity and Asset Quality of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL CPR is no indication of the performance that can be expected from the scheme in future.BIRLA MIDCAP FUND: CRISIL~CPR 2 Open End Equity Scheme, April 2004- March 2006:The composite performance of Birla Midcap Fund is “Good" performance in the Open End Equity Category, and ranks within the top 30% of the 59 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the 2-year period ended March 31,2006, Concentration and Liquidity of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL CPR is no indication of the performance that can be expected from the scheme in future. BIRLA CASH PLUS - RETAIL PLAN: CRISIL~CPR 2 Open End Liquid Scheme, April 2005 - March 2006: The composite performance of Birla Cash Plus - Retail is “Good” in the Open End Liquid Category, and ranks within the top 30% of the 24 schemes ranked in this category. The criteria used in computing the CRISIL Composite Performance Rank are Mean Return, Volatility, based on NAVs over the 1-year period ended March 31,2006, Asset size, Average
Maturity, Downside Risk Probability, Company Concentration & Asset Quality of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL CPR is no indication of the performance that can be expected from the scheme in future. BIRLA SUN LIFE EQUITY FUND: CRISIL~CPR 2 Open End Equity Scheme, April 2004 - March 2006: The composite performance of Birla Sun Life Equity Fund is “Good” in the Open End Equity Category, and ranks within the top 30% of the 59 schemes ranked in this category The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the 2-year period ended March 31,2006, Concentration and Liquidity of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL CPR is no indication of the performance that can be expected from the scheme in future. Ranking Source: CRISIL FundServices, CRISIL Limited CRISIL AAAf Rating Methodology for Birla Income Plus, Birla Bond Plus, Birla Bond Index Fund and Birla Sun Life Cash Manager
@@ STANDARD & POOR'S FUND AWARDS 2004 Methodology
The assigned rating indicates that Birla Income Plus, Birla Bond Plus, Birla Bond Index Fund and Birla Sun Life Cash Manager's proposed portfolio holdings provide strong protection against losses due to credit default. The above schemes are open ended schemes and managed by Birla Sun Life Asset Management Company (BSLAMCL).Rating Methodology: CRISIL's assessment of a fund's credit quality is based on the creditworthiness of the fund's portfolio. CRISIL has developed a credit quality matrix to assess aggregate credit quality of the underlying portfolio of a fund. The matrix is a set of credit factors and credit scores derived scientifically from the default and transition rates of CRISIL's long-term ratings. These credit factors reflect the expected default behaviour of the respective securities in the portfolio and the expected deterioration in their credit quality. For each individual security, the lower the credit factor, the higher is its inherent credit quality. The credit factors are applied to the proportion of securities in each rating category to arrive at the credit score for the portfolio. The rating on the fund is assigned based on the credit score given to the respective fund.The Fund needs to maintain, at all times, a credit score that corresponds to its assigned rating. BSLAMCL will be furnishing a warranty to this effect. In case the Fund is not able to seek prior approval from CRISIL before investing in securities not rated by CRISIL, the Fund will report its portfolio to CRISIL within two working days from the end of the week in which such investment is made. If, due to such investments, the credit score of the Fund exceeds the limit applicable for the Fund's rating, the Fund gets a curing period of five working days from such disclosure. In case a particular investment in the Fund's portfolio is downgraded and this has resulted in its credit score crossing the specified limit, the Asset management company (AMC) has 30 days to restructure the portfolio to achieve the target credit score.
Funds must have minimum assets under management of US$4m, as at end of June 2003. The Offshore fund universe for the purposes of these Awards excludes funds that are domiciled in Luxembourg or Ireland. Awards are calculated for 1 and 5 years. There must be a minimum of 10 funds in a sector to qualify for the calculation. For detailed methodology, kindly visit http://www.funds-sp.comS & P FUND MANAGEMENT RATINGFund Management RatingsA S&P Rating is its current opinion of a fund's adherence to consistent investment processes combined with the level of volatility adjusted returns. In S&P's opinion, funds which adhere to disciplined processes and exhibit strong management, are more likely, over the long run, to provide consistent, above average volatility adjusted returns, relative to the funds in the same sector. The rating is based on an evaluation of qualitative (management, investment process and organization) and quantitative (historic performance, portfolio construction and volatility) factors which contribute to long term performance. The rating does not address, the market, credit or counter party risk of a fund, nor a fund's suitability as a counter party or obligor. Ratings DefinitionFunds rated in the AAA to A categories demonstrate to S&P an ability to provide above average volatility, adjusted returns over long term period (relative to funds in the same sector) along with a strong ability to adhere to a consistent investment process. The differentiation in the rating categories is based on quantitative factors along with Standard & Poor's The McGraw-Hill Companies's assessment of the investment process and management.AAA: A fund which demonstrates an extremely strong ability to adhere to consistentinvestment processes and provides above average volatility adjusters returns relative to tunds with similar objectives.AA: The fund demonstrates very high standards of quality in its sector based on itsinvestment process and management's consistency of performance as compared to funds with similar objectives.A: The fund demonstrates a high standard or quality in its sector based on its investment process arid management's consistency of performance as compared with funds with similar objectivesNR: Funds designated as NR (not rated) currently do not meet the requisite performance standards and /or the minimum qualitative criteria.
Methodology of Ranking
#EQUITY SCHEMES Declared Dividend Dividend Face value Cum Dividend NAVon date (%) (Rs. per unit) (Rs.) (Rs. per unit)
27-Aug-99 20 2.00 10.00 33.8122-Mar-00 80 8.00 10.00 70.3728-Nov-03 30 3.00 10.00 44.8823-Jan-04 20 2.00 10.00 47.3312-Mar-04 25 2.50 10.00 46.1023-Mar-05 50 5.00 10.00 54.2516-Dec-05 50 5.00 10.00 65.89
31-Mar-00 25 2.50 10.00 30.4315-Feb-02 10 1.00 10.00 12.4517-Oct-03 15 1.50 10.00 24.8926-Mar-04 15 1.50 10.00 26.9021-Oct-05 40 4.00 10.00 42.1016-Dec-05 40 4.00 10.00 46.5017-Feb-06 40 4.00 10.00 44.54
10-Feb-06 50 5.00 10.00 58.94
04-Feb-00 25 2.50 10.00 28.9714-Jan-03 10 1.00 10.00 12.1627-Feb-04 60 6.00 10.00 18.6926-Oct-04 12.5 1.25 10.00 14.1716-Sep-05 40 4.00 10.00 14.90
22-Feb-02 40 4.00 10.00 27.1629-Aug-03 50 5.00 10.00 30.5818-Jan-05 50 5.00 10.00 42.8026-Aug-05 75 7.50 10.00 41.05
24-Jan-03 5 0.50 10.00 10.5219-Jun-03 10 1.00 10.00 11.8322-Jul-03 10 1.00 10.00 11.8124-Dec-03 60 6.00 10.00 18.358-Oct-04 12.5 1.25 10.00 13.72
28-Jan-05 10 1.00 10.00 14.753-Feb-06 20 2.00 10.00 20.82
30-May-03 8 0.80 10.00 11.8413-Jun-03 5 0.50 10.00 10.8824-Jul-03 12 1.20 10.00 11.62
19-Sept-03 18 1.80 10.00 12.0931-Oct-03 10 1.00 10.00 11.8726-Dec-03 15 1.50 10.00 13.9313-Feb-04 10 1.00 10.00 12.5828-Sep-04 8 0.80 10.00 11.5724-Dec-04 14 1.40 10.00 13.7511-Mar-05 10 1.00 10.00 12.851-July-05 8 0.80 10.00 11.2628-Oct-05 8 0.80 10.00 11.9413-Jan-06 16 1.60 10.00 11.8927-April-06 10 1.00 10.00 13.07
17-Oct-03 56 5.60 10.00 16.1903-Feb-04 16.5 1.65 10.00 11.9857
17-Oct-03 15 1.50 10.00 13.3220-Jan-06 50 5.00 10.00 15.13
27-Jan-06 20 2.00 10.00 11.67
27-Feb-06 80 8.00 10.00 20.88
24-Mar-06 100 10.00 10.00 35.08
28-Mar-06 75 7.50 10.00 17.5400
10-Mar-06 25 2.50 10.00 68.5300
27-Apr-06 500 50.00 10.00 224.51
Birla Advantage Fund
Birla Equity Plan
Birla Sun Life Equity Fund
Birla India Opportunities Fund
Birla MNC Fund
Birla Midcap Fund
Birla Dividend Yield Plus
Birla Index Fund
Birla Balance
Birla Sun LifeNew Millennium Fund
Birla Sun Life Frontline Equity Fund
Birla Sun Life Basic Industries Fund - Dividend
Birla Sun Life Buy India Fund -Dividend
Birla Sun Life '95 Fund - Dividend
Birla Sun Life Tax Relief 96
Past performance may or may not be sustained in future. #Dividend distribution is not assured and is subject to availability of distributable surplus. After payment of dividend the NAV will fall to the extent of payout.
38
Dividend History(For select Schemes)J u l y 2 0 0 6
DEBT SCHEMES Date Face Value Non Corporate Corporate Cum Dividend
# #Dividend Dividend Dividend Dividend NAV
(%) (Rs. per unit) (%) (Rs. per unit) (Rs. per unit)
16-Mar-06 10.00 0.888 0.0888 0.827 0.0827 10.0856
26-June-06 10.00 1.228 0.1228 1.143 0.1143 10.2443
16-Mar-06 10.00 0.899 0.0899 0.837 0.0837 10.1648
26-June-06 10.00 0.965 0.0965 0.898 0.0898 10.3305
16-Mar-06 10.00 1.158 0.1158 1.078 0.1078 10.5739
26-June-06 10.00 1.294 0.1294 1.205 0.1205 10.7361
16-Mar-06 10.00 1.403 0.1403 0.1307 1.307 10.6278
26-June-06 10.00 0.1294 0.0129 0.1205 0.0120 10.7361
16-Mar-06 10.00 1.339 0.1339 1.247 0.1247 10.9616
26-June-06 10.00 1.478 0.1478 1.376 0.1376 11.0499
27-Jan-06 10.00 0.614 0.0614 0.572 0.0572 10.8662
24-Feb-06 10.00 0.614 0.0614 0.572 0.0572 10.8371
31-Mar-06 10.00 0.614 0.0614 0.572 0.0572 11.0024
28-April-06 10.00 0.496 0.0496 0.462 0.0462 11.0372
26-May-06 10.00 0.481 0.0481 0.448 0.0448 10.9033
26-June-06 10.00 0.481 0.0481 0.448 0.0448 10.7585
27-Jan-06 10.00 0.526 0.0526 0.490 0.0490 10.1399
24-Feb-06 10.00 0.526 0.0526 0.490 0.0490 10.1072
31-Mar-06 10.00 0.526 0.0526 0.490 0.0490 10.0888
28-April-06 10.00 0.419 0.0419 0.390 0.0390 10.1356
26-May-06 10.00 0.419 0.0419 0.390 0.0390 10.1350
26-June-06 10.00 0.339 0.0339 0.316 0.0316 10.085
27-Jan-06 10.00 0.702 0.0702 0.653 0.0653 10.9708
24-Feb-06 10.00 0.702 0.0702 0.653 0.0653 10.9741
31-Mar-06 10.00 0.702 0.0702 0.653 0.0653 11.2366
28-April-06 10.00 0.571 0.0571 0.532 0.0532 11.2454
26-May-06 10.00 0.551 0.0551 0.513 0.0513 11.0445
26-June-06 10.00 0.551 0.0551 0.513 0.0513 10.8607
2-Jan-06 10.00 0.789 0.0789 0.735 0.0735 10.4630
31-Jan-06 10.00 0.789 0.0789 0.735 0.0735 10.4643
28-Feb-06 10.00 0.702 0.0702 0.653 0.0653 10.5357
31-Mar-06 10.00 0.702 0.0702 0.653 0.0653 10.6836
28-April-06 10.00 0.641 0.0641 0.597 0.0597 11.0372
31-May-06 10.00 0.759 0.0759 0.706 0.0706 10.6100
26-June-06 10.00 0.614 0.0614 0.572 0.0572 10.4457
31-Mar-06 10.00 1.579 0.1579 0.147 0.0147 10.9727
16-Mar-06 10.00 0.887 0.0887 0.826 0.0826 10.0687
26-June-06 10.00 0.148 0.0148 0.1378 0.0137 10.2581
16-Mar-06 10.00 0.908 0.0908 0.845 0.0845 10.4176
16-Mar-06 10.00 1.124 0.1124 1.047 0.1047 10.2391
16-Mar-06 10.00 1.102 0.1102 1.027 0.1027 10.0655
26-June-06 10.00 1.228 0.1228 1.143 0.1143 10.1985
02-Jan-06 10.00 4.809 0.4809 4.479 0.4479 10.0305
Birla Income Plus
Birla Bond Index Fund
Birla Gilt Plus Liquid Plan
Birla Gilt Plus PF Plan
Birla Gilt Plus Regular Plan
Birla MIP (Monthly Dividend Plan)
Birla MIP II - Savings 5 Plan
Birla MIP II - Wealth 25 Plan
Birla Sun Life Monthly Income -
Monthly Dividend
Birla Sun Life Monthly Income -
Quarterly Dividend
Birla Sun Life Income Fund -
Quarterly Dividend
Half Yearly Dividend
Birla Sun Life Govt. Securities -
Long Term Dividend
Birla Sun Life Govt. Securities -
Short Term Dividend
Birla Dynamic Bond Fund - Retail -
Quarterly Dividend
The Dividend Distribution Tax Rates for Corporates is 22.44% and for Non-Corporates is 14.025%. Past performance may or may not be sustained in future. #Dividend distribution is not assured and is subject to availability of distributable surplus. After payment of dividend the NAV will fall to the extent of payout.
39
Dividend History(For select Schemes) - Since January 2006J u l y 2 0 0 6
Pri
nted
in
July
20
06
The name inspires trust
For further details on our Fund, please contact our Customers Service Centres at details given below.
BIRLA SUN LIFE AMC LTD. BRANCHES
AHMEDABAD : 079-2640 3553 /48 BANGALORE : 080-2238 9991/2/3
CHENNAI : 044-5204 5003 /2819 1681 KOLKATA : 033-2288 2595/288 2592/94
MUMBAI (Head Office) : 022-6692 8000 MUMBAI (SALES Office) : 022-6637 9999
NEW DELHI : 011-2332 3070 PUNE : 020-56011865/66/67
SECUNDARABAD : 040-2772 1818 /5531 1052/3580 BARODA : 0265- 558 2984 / 2986
BHUBANESHWAR : 0674-253 5521/3413 CHANDIGARH : 0172-274 9172/73
COCHIN : 0484-238 3969 /236 6817 COIMBATORE : 0422 - 535 0262 / 64
GOA : 0832-243 7628/29 GUWAHATI : 0361-259 9273
INDORE : 0731-504 6789/0496,253 4502 JAIPUR : 0141-238 9082 / 238 9115
KANPUR : 0512-233 1116 /1121 LUCKNOW : 0522- 229 4110
LUDHIANA : 0161-508 8847/277 1217 PATNA : 0612-220 7022/7023
SURAT : 0261- 558 1707/ 1708
Disclaimer: Any information contained in this publication 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 securities of any entity, and further, Birla Sun Life AMC Ltd./ its subsidiaries / affiliates / sponsors / trustee or their officers, employees, personnel, 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 publication from time to time. Recipients of the information contained herein should exercise due care and caution and read the offer documents (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 the 'Connect' are not necessarily those of Birla Sun Life AMC Ltd. or any of their officers, employees, personnel, directors and Birla Sun Life AMC Ltd. and its officers, employees, personnel, directors do not accept responsibility for the editorial content. Birla Sun Life AMC Ltd. or any of its officers, employees, personnel, directors make no representation as to the accuracy, completeness or reliability of the editorial content and hereby disclaim any liability with regard to the same.
Constitution: Birla Mutual Fund (BMF), has been set up as a trust under the Indian Trust Act, 1882. Sponsors: Sun Life (India) AMC Investments Inc. and Birla Global Finance Ltd. (liability restricted to seed corpus of Rs. 1 lac) Trustee: Birla Sun Life Trustee Co. Pvt. Ltd. Investment Manager: Birla Sun Life Asset Management Company Ltd. Risk Factors: Mutual Funds and securities investments are subject to usual risks associated with capital and money market instruments. There can be no assurance that the funds objectives will be achieved. As with any investment in securities, the NAV of the units issued under the schemes can go up or down depending on the factors and forces affecting the securities markets. Past performance of BMF does not guarantee the future performance of the schemes of BMF and does not form a basis of comparison with other investments. The names of the schemes do not in any manner indicate either the quality of the schemes, their future prospects or returns. For all schemes please check applicable load structure before investing. For details and scheme specific risk factors read offer documents and refer to your financial advisor before investing.
The Material provided in the Connect cannot be reproduced or quoted anywhere without express permission from Birla Sun Life Asset