+ All Categories
Home > Documents > Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a)...

Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a)...

Date post: 20-Mar-2020
Category:
Upload: others
View: 1 times
Download: 0 times
Share this document with a friend
24
Sahara Income Fund
Transcript
Page 1: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

1Sahara Income Fund

Page 2: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

2

INVESTOR SERVICE GUIDE:

_ KNOW YOUR CUSTOMER (KYC): Investors may submit the following documents/ follow the procedure as stated below to comply with KYC requirements:(a) KYCFormdulyfilledin

(b) Self attested copy of PAN card and self attested copy of proof of address

(c) Inpersonverificationistobedonebyyourdistributororanyauthorizedperson.

Original documents need to be shown for verificationwhichwill be duly returned aftercheckingtherelevantinformation.

_ REGISTRATION OF NOMINATION: Registration of nomination will facilitate easytransmissionofunitstothenominee(s),especiallyiftheunitholdingissingle.Investorswith single holding with no nomination are requested to obtain nomination form forregistrationofnomination.

_ MAILING OF ANNUAL REPORT OR ABRIDGED SUMMARY: In order to bring costeffectiveness in printing and dispatching the annual reports or abridged summaryand as a green initiative measure, unit holders are requested to provide their emailaddresses to enable the Abridged Annual Report and related documents to beforwarded by email. For those email addresses which are already registered withus, the scheme annual accounts or abridged summary would be sent to theseemail addresses and not as physical copies. The investors who wish to obtain theSchemeAnnualAccounts orAbridged summary etc. in physical form,may specificallycommunicateinwritingforthesame.

_ REGISTRATION OF MULTIPLE BANK ACCOUNTS FOR PAY-IN AND PAY-OUT: Registration of up to five bank accounts in case of individuals andHUF and upto tenbankaccounts incaseofnon-individuals isnowallowedafterwhich investorscanuseanyof the registeredbankaccounts to receive redemption /dividendproceeds.Theseaccountswillalsobeusedforverificationofpay-ins(i.e.receivingofsubscriptionfunds)toensure thata thirdpartypayment isnotused formutual fundsubscription. Investorsarerequestedtoobtainrelevantformforthispurpose.

_ Product Labeling in Mutual Funds has been introduced by Mutual Funds. A system of Product Labeling that would provide investors an easy understanding ofthe kind of product/scheme they are investing in and its suitability to them has beenintroduced.THIS WILL FURTHER HELP THE INVESTOR FOR ALL THEIR FUTURE INVESTMENTS. The product label will be placed in proximity to the caption of theschemeandwillbeprominentlyvisible.Thecolourcodesshallalsobedescribedintextbesidethecolourcodebox.

Note: Riskmayberepresentedas:

(BLUE)investors (YELLOW)investors (BROWN) investors understandthattheir understandthattheir understandthattheir principalwillbeat principalwillbeat principalwillbeat lowrisk mediumrisk highrisk

Investorsarerequestedtorefertothewebsitewww.saharamutual.com forinformationabout the schemes of SAHARA MUTUAL FUND through the Scheme InformationDocument, Statement of Additional Information and Key Information Memorandum,addendums/noticesissuedfromtimetotime.

Page 3: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

1

INDEXSAHARA INCOME FUND

1. ReportoftheTrustees..................................................................................................... 2

2. AuditorsreporttotheTrusteesofSaharaMutualFund.................................................. 12

3. AbridgedBalanceSheetasat31stMarch,2013............................................................. 14

4. AbridgedRevenueAccountfortheyearended31stMarch,2013.................................. 15

5. NotestoAccounts............................................................................................................ 16

6. KeyStatisticsfortheyearended31stMarch,2013........................................................ 19

Page 4: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

2

REPORT OF THE TRUSTEESWe are pleased to present before you the ANNUAL REPORT of SAHARA MUTUAL FUNDfortheyearendedMarch31,2013.Overview of Debt Markets in 2012-13The financial year 2012-13 remained a challenging year for Indian economy. The WPI inflation trended as per theexpectationofRBIbuttheCPImovedhigherdefyingtheassumptionbyCentralBank.ThenewchallengeemergedintermsofdeterioratingCurrentaccountDeficitwhich touched6.7% inQ3.Thedepletionof forex reserve, coupledwithuncheckedimports of gold and oil, kept the deficit soaring. The issue of political uncertainty also emerged. Rating agencies havethreateneddowngradeonlowergrowthprospect,highertwindeficits,fallingsavingsandinvestmentratios.Inthisbackdrop,toughbutnecessarystepsforfiscalconsolidationweretakentotacklefiscaldeficitwiththeannouncementsfor cap on subsidized cooking gas, freeing oil marketing companies to hike diesel prices, duties on gold imports etc.Government expenditure was restricted so that the fiscal situation remained under revised estimates. The Central bankmovedintandemtosupportgrowthmeasuresbyreducingpolicyratesandCRR.Budget 2013-14 alsowas rational to the extent that it was non-populous and stressed on efficient allocation of resources,augmentationandefficientcollectionofrevenueswithoutcurtailingnecessaryexpenditure.Majorstepswerealsoannouncedtoattractforeigncapitalespeciallythroughdebtmarketsegment.Overview of Equity Markets in 2012-13Equity markets in India remained volatile during the FY 2012-13 with Sensex and Nifty moving up by 8.23% & 7.31%respectively,whereasCNXMidcapgavenegative returnof4.02%.Themarketshaddecent rallyafterPChidambaramwasmadethefinanceministerandgovernmentannouncingseriesofreformssinceAugust2012.FIIremainednetbuyersofover`1.4lakhCroreswhileDIIwerenetsellersof`0.20lakhcrores.During 2012-13, the Indian economy continued to witness slowdown with GDP growth of around 5 percent as against6.2 percent in 2011-12. The decline in the growth rate was seen in the agriculture and services sectors, while industrialgrowth remained listless.While themoderationofgrowth inagriculturewas largelyonaccountof the rainfalldeficiency, theslowdown in industryandservices reflected several factors includingdomestic policyuncertainties, lagged impact of earliermonetarytighteningandslackeningofexternaldemand.Average headline inflation declined to 7.3 per cent in 2012-13 from 8.9 per cent in 2011-12, with a low of 6.0 per cent inMarch, 2013.As a baseline case, it is expected to see furthermoderation in first half of 2013-14 on the back of subduedpricingpowerofdomesticproducers.TheReserveBankeasedmonetarypolicytoreviveinvestmentandgrowth.Itusedthelimitedmonetaryspacewhilebalancingthe concerns of persisting inflation and historically high Current Account Deficit (CAD). In this vein, the Reserve Bankcumulatively reduced the repo rate by 100 bps in 2012-13. Furthermore it injected ` 1.5 trillion of primary liquidity throughoutrightopenmarketoperations(OMOs).TheimpactofmonetarypolicyinboostingGDPgrowthiscontingentuponresolutionofsupplybottlenecks,governanceissuesimpedinginvestmentsandthegovernment’seffortstowardsfiscalconsolidation.The financial year 2012-13, was highlighted with controversial CAG report on allocation of coal blocks tabled in theparliamentand introductionofGeneralAntiAvoidanceRules (GAAR)creatingpanic in themarkets.Political instability ruledin the last 3monthsof theFY2013.Asa result thebudgetwhichwasexpected to beprogressivewaswithout anymajorannouncementsboostingtheeconomy.TheyearwasalsomarkedbymajorfallinPublicsectorunit(PSU)stocks.BSEPSUindexwasdownby11.4%fortheyearasagainstSensexmovingupby8.23%.PSUstocksremainedunderpressureduring theyeardue to lackofvisibilityon thepolicy front invarioussectors.SpreeofdisinvestmentwasalsoamajordampenerforthePSUstocksasmoresupplyofpaperkeptpricesincheck.OntheInternationalfront,thefiscalcliffkickedoffinUSwithmoderateintensity.Itisexpectedtoleadtoalargepredictedreductionin the budget deficit.TheUSeconomy is stabilizing and increasingly attracting investor attention.Stress still remains in theEuroarea insomeform,aswasevident fromthecaseofCyprus,whichbecamethefourtheuroareamembertoreceiveabailoutafterGreece, IrelandandPortugal.Financialmarketsarenowpricing in the impactof largefiscalandmonetarystimuliprovidedby thenewJapanesegovernment.Thisincludesastimuluspackageof10trillionyentoboostgrowthandovercomedeflation.

1. Scheme Performance, Future Outlook and Operations of Sahara Income Fund: Performance as of March 31, 2013 1 year Since inception Inception dateSaharaIncomeFund(%) 8.95 7.54CRISILCompositeBondFundIndex(%) 9.24 NA*

21.02.2002

*Asbasedateofindex3132002“Thepriceandredemptionvalueof theunits,andincomefromthem,cangoupaswellasdownwiththefluctuations inthemarketvalueofitsunderlyinginvestments;”AsonMarch31,2013, theschemehad invested86% inmoneymarket instrumentsand thebalance14% in reverserepo /CBLO/Netcurrentassets

Page 5: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

3

DEBT MARKETSTheyesteryearhasvindicated the issuesencircling Indianeconomy.Going forward theyearahead isexpected toengageprimarily infollowingfronts-(a)Acceleratinggrowthmomentumbyencouragingsavingsandinvestments(b)Containingtwindeficit–bothCADandFiscaldeficit(c)Attractingforeignflowsand(d)containinginflationandinflationexpectation.Incontextoffocus,debtmarketmayseepolicyactionbiasedtowardsofterrateregime.Withfiscalconsolidationannouncedduringlastfinancialyearandwhichisexpectedtobeadheredto,anynegativenewsflowingfromad-hocfiscalslippagemaynotbeseen thisyear.Liquidityand inflationare themainconcernswhichwouldkeep thedebtmarketguessingandwhichhas the potential to bring volatility.Also concerns fromwestern countries and rating agencies downgrading Indiamay addvolatility.

EQUITY MARKETSThe future course of themarketswill depend on how the economy performs in FY 13-14. Severalmeasures proposed bythegovernmentcouldnotbepassed in thewintersessionofparliamentdueofpolitical ruckus.Thegovernment isworkingtowardsresolvingthebottlenecksintheeconomy.Thoughthere isawide–spreadexpectationthattheworstof thecurrentand fiscal deficits are behind us, the next general election would be crucial event for the Indian markets. Till then thecorporate&economytrendsandthemonsoonwouldbekeenlywatchedbythemarketsparticipants.

2. Brief Background of Sponsor, Trust, and AMC Company

(a) Sahara Mutual FundSaharaMutualFund(SMF)hasbeenestablishedasaTrustbytheTrustDeed(amendedfromtimetotime)dated18thJuly,1996inaccordancewiththeIndianTrustsAct,1882,anddulyregisteredundertheIndianRegistrationAct,1908,sponsoredbySaharaIndiaFinancialCorporationLimited(“SIFCL”).TheTrustees have appointed SaharaAssetManagement Company Private Limited as the InvestmentManager to SaharaMutualFund to functionas the InvestmentManager forall theSchemesofSaharaMutualFund.SaharaMutualFundwasregisteredwithSEBIon1stOctober,1996.

(b) Board of TrusteesTheBoardofTrusteesasondatecompriseJusticeSMohan, IndependentTrustee,Mr.S.R.Hegde, IndependentTrustee,Mr.P.V.Rao,IndependentTrusteeandMr.AKThakur,IndependentTrustee.The Board of Trustees is the exclusive owner of the Trust Fund and holds the same in trust for the benefit of the unitholders. The Board of Trustees has been discharging its duties and carrying out the responsibilities as provided in theRegulationsandtheTrustDeed.TheBoardofTrusteesseekstoensurethattheFundandtheSchemesfloatedthereunderaremanagedbytheAMCinaccordancewiththeTrustDeed,theRegulations,directionsandguidelinesissuedbytheSEBI,theStockExchanges,theAssociationofMutualFundsinIndiaandotherregulatoryagencies.

3. Investment Objective of the SchemeThe primary objective of the scheme is to generate regular income and growth of capital through investment in debtinstruments,moneymarketandrelatedsecuritieswhileatalltimesemphasizingtheimportanceofcapitalpreservation.

4. SignificantAccountingPoliciesTheBalanceSheet and theRevenueAccount togetherwith thenotes thereonhavebeenprepared in accordancewith theaccounting policies and standards specified in the Ninth Schedule of the Securities and Exchange Board of India (MutualFunds)Regulations,1996andamendmentsthereto,asapplicable.

5. Unclaimed Dividends and Redemptions

Scheme Name No. of Unclaimed No. of Unclaimed Investors Dividend (`) Investors Redemption (`)

Sahara Income Fund 14 8968.04 12 101531.71

Page 6: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

4

6. Disclosure of investor complaints for the year 2012-13Total Number of Folios under all schemes : 37524 Action on (a) and (b) Com- (a) No. of (b) No. of Resolved Pending plaint Type of Complaint # Complaints Complaints * Non Code pending at received Within Beyond Actio- the beginning during 30 30-60 60-180 180 nable 0-3 3-6 6-9 9-12 of the year the year Days Days Days days mths mths mths mthsIA Nonreceiptof DividendonUnits – 14 14 – – – – – – – –IB Interestondelayed paymentofDividend – – – – – – – – – – –IC NonreceiptofRedemption Proceeds – 10 10 – – – – – – – –ID Interestondelayed PaymentofRedemption – 1 – – – – 1 – – – –IIA NonreceiptofStatement ofAccount/UnitCertificate – – – – – – – – – – –IIB Discrepancyin StatementofAccount – – – – – – – – – – –IIC NonreceiptofAnnual Report/AbridgedSummary – – – – – – – – – – –IIIA Wrongswitchbetween Schemes – – – – – – – – – – –IIIB Unauthorizedswitch betweenSchemes – 3 – – – – 3 – – – –IIIC Deviationfrom Schemeattributes – – – – – – – – – – –IIID Wrongor Excesscharges/load – – – – – – – – – – –IIIE Nonupdationofchanges viz.address,PAN,bank details,nomination,etc. – – – – – – – – – – –IV Others – 1 1 – – – – – – – – TOTAL – 29 25 – – – 4 – – – –

# includingagainstitsauthorizedpersons/distributors/employeesetc.* Nonactionablemeansthecomplaintthatareincomplete/outsidethescopeofthemutualfund 7. Role of Mutual Funds in Corporate Governance of Public Listed CompaniesPolicy on Attending AGM/EOGM of Investee CompaniesIntroductionSahara Asset Management Company Private Limited, acts as an Investment Manager (“The AMC”) to the schemes ofSaharaMutualFund(“Fund”).Thegeneralvotingpolicyandproceduresbeing followedby theAMCinexercising thevotingrights(“VotingPolicy”)isgivenhereunder.PhilosophyandGuidelinesofVotingPolicyTheAMChasadual responsibilityofaprudent fundmanager investing investormoneyaswellasofanentityperforming theresponsibilityofprotecting the investor interest.Aspartof themanagementoffunds,irrespectiveofthescheme,theAMCensuresthatinvestmentsaremadeincompaniesthatmeetinvestmentnorms.Itisexpectedthattheinvesteecompanyadherestopropercorporategovernancestandards.ThevotingpolicyfortheinvesteecompaniesbytheAMCisasunder:TheAMC shall deal with voting on case to case basis. For this purpose, theAMC shall review various notices ofAGM/EOGM received from the investee companies from time to time and decide whether there are some issues on which thevoting decision (favourable / unfavourable) is to be taken. TheAMC would generally agree with the management of theInvesteeCompanyonroutinematters,butmayobjectbyvotingagainstif itbelievesthattheinterestoftheshareholdersareprejudicedinanymanner.Asregardsnon-routineitemstheFundManager-EquitywithassistanceoftheEquityResearchDepartmentandinconsultationwiththeChief InvestmentOfficershallrevieweachofsuchcasesandmakespecificrecommendationstotheChiefExecutiveOfficer.IncasetheAMCisagainstanynonroutineitem,itmaydecidetoattendthemeetingandvoteagainst.Insomeothersuchcases,itmaydecidetoabstainbasedononeormoreofthefactorslikeoursmallholdinginthecompany,locationofthemeetingplace,time/costinvolvedetc.Fortheseinstances,thereasonsfornonattendancewillberecorded.Asper thedecision takenby theAMC, itmaydeputeanauthorizedperson tovote inAGM/EOGMappropriatelykeeping inmindtheinterestofunitholders.AMCwouldmaintainarecordontheAGM/EOGMvotingrelatedmatters.DisclosureofVotingpolicyandMaintenanceofRecordsThisPolicyonattendingAGM/EOGMandsuitabledisclosurethereofwillbemadeavailableonthewebsitewww.saharamutual.com.

Page 7: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

5

ThedetailsofvotingintheAGMsoftheinvesteecompaniesforthefinancialyear2012-13areasfollows:THE PAPER PRODUCTS LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 4thMay, AGM AdoptionofAccountsasat31st December,2011 For For 2012 Declarationofdividend For For

Reappointment.ofMr.P.V.NarayananasDirector For ForReappointment.ofMr.JukkaMoisioasDirector For ForAppointmentofM/s.S.R.Batliboi&Co.,CharteredAccountants,MumbaiasStatutoryAuditors For ForReimbursementofmedicalexpenditureincurredby For For Mr. Suresh Gupta, Chairman and Managing DirectoroftheCompanyandtravellinglodging&boardingandotherincidentalexpensesofMrs.KumkumGuptaModificationofthetermsofappointmentof For ForMr. Suresh Gupta, Chairman and ManagingDirectoroftheCompany.PaymentofcommissiontoDirectors For For

BATA INDIA LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 30thMay, AGM AdoptionofAccountsasat31stDecember,2011 For For 2012 Declarationofdividend. For For

ReappointmentofMr.J.CarbajalandMr.J. For For ClemonsasDirectors.ReappointmentofM/sSRBatliboi&Co., For ForChartered Accountants as Statutory AuditorsandtofixtheirremunerationAppointmentofMr.RanjitMathurasDirectorof For For theCompany.AppointmentofMr.RanjitMathurasDirector For ForFinanceoftheCompanyandrevisionof termsofremuneration.AlterationoftheArticleofAssociation For For

RELIANCE INDUSTRIES LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 7thJune, AGM AdoptionofAccountsasat31stMarch,2012. For For 2012 Declarationofdividend. For For

AppointmentofDirectorsinplaceofthose For For retiringbyrotation.ReappointmentofM/sChaturvedi&Shah, For ForCharteredAccountant,M/sDeloitte Haskins &Sells,CharteredAccountants,M/sRajendra&Co,CharteredAccountantsasAuditorsandfixtheirremuneration.ReappointmentofMr.NikhilMeswaniasWhole- For For timeDirector.ReappointmentofMr.PawanKumarKapilas For For Whole-timeDirector.

Page 8: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

6

CANARA BANK Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 28thJune, AGM AdoptionofAccountsasat31stMarch,2012. For For 2012 Declarationofdividend. For For

OBEROI REALTY LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 29thJune, AGM AdoptionofAccountsasat31stMarch,2012. For For 2012 Declarationofdividend. For For

ReappointmentofMr.AnilHarishasDirector For ForReappointmentofMsBinduOberoiasDirector For ForReappointmentofM/s.P.Raj&Co.,Chartered For For AccountantsasStatutoryAuditorsAppointmentofMr.VenkateshMysoreasaDirector For For oftheCompanyliabletoretirebyrotation.AlterationoftheMemorandumandArticlesof For For Association

HOUSING DEVELOPMENT FINANCE CORPORATION LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 11thJuly, AGM AdoptionofAccountsasat31stMarch,2012. For For 2012 Declarationofdividend For For

ReappointmentofMr.ShirishB.PatelasDirector For ForReappointmentofMr.BSMehtaasDirector For ForReappointmentofDr.S.A.DaveasDirector For ForReappointmentofM/s.DeloitteHaskins&Sells, For ForChartered Accountants, as Statutory Auditorsandtofixtheirremuneration.AppointmentofM/s.PKF,CharteredAccountants, For Foras Branch Auditors for auditing the accountsoftheCorporation’sbranchoffice(s)atDubai,AppointmentofDr.J.J.IraniasDirectorofthe For For Corporationliabletoretirebyrotation.RevisioninremunerationofManagingDirectors/ For For ExecutiveDirectorsoftheCorporation.Approvalfortheacquisitionandholdingofequity For Forshares of the Corporation by ForeignInstitutional Investors (FIIs)under thePortfolioInvestment Scheme (PIS), up to 100% ofthe paid-up share capital of the Corporation,as approved by the Board of Directors of theCorporation.Provided that theshareholdingofa single FII or a sub-account of a FILL shallnot at any time exceed 10% of the paid-upsharecapitaloftheCorporation.

Page 9: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

7

HDFC BANK LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 13thJuly, AGM AdoptionofAccountsasat31stMarch,2012. For For 2012 Declarationofdividend. For For

ReappointmentofDr.PanditPalande,asDirector For ForReappointmentofMr.ParthoDatta,whoasDirector For ForReappointmentofM/sBSRandCo.,Chartered For ForAccountants as Statutory Auditors and to fixtheirremuneration.AppointmentofMr.KekiMistry,asaDirector For ForPaymentoffeestoMr.BobbyParikh,Director For Forand any other non-executive director forattending the meetings of the IT StrategyCommittee.ReappointmentofMr.AdityaPuriasthe For For ManagingDirector.

BAJAJ FINSERV LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 17thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 Declarationofdividend. For For

ReappointmentofNanooPamnaniasDirector For ForReappointmentofMadhurBajajasDirector For ForToappointauditorsofthecompanyandfixtheir For For remuneration.ReappointmentofMr.SanjivBajajasManaging For For DirectorPaymentofCommissiontoDirectors For ForTogiveloans/guaranteesforanamount For For exceeding`3000croretootherBodycorporate.Increaseinauthorisedsharecapitalfrom`75 For For crores to `100crores.Toissuesecuritiesforanamountnotexceeding For For `1000crores

BAJAJ AUTO LIMITED Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 18thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 Declarationofdividend. For For

ReappointmentofD.S.Mehta,asDirector For ForReappointmentofKantikumarRPodaras For For Director.ReappointmentShekarBajaj,asDirector For ForReappointmentofDJBalajiRao,asDirector For ForAppointmentofauditorsandtofixtheir For For remuneration.

Page 10: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

8

KOTAK MAHINDRA BANK LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 19thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofDrShankarAcharyaasDirector For ForReappointmentofSudiptoMundleasdirector For ForReappointmentofM/sS.B.Billimoria&Co.as For For AuditorsofBank.Reappointmentofandpaymentofremuneration For For toDrShankarAcharyaasChairmanoftheBank. IncreaseinBorrowinglimits For ForIncreaseinceilinglimitontotalholdingof For ForForeign Institutional Investors in the paidupequitysharecapitaloftheBank.

COLGATE-PALMOLIVE (INDIA) LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 23rdJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 ReappointmentofMr.P.K.Ghosh,asDirector For For

ReappointmentofMr.R.A.ShahasDirector For ForAppointmentofDr.(Ms.)InduSahaniasDirector For ForAppointmentofMr.NiketGhateasDirector For ForAppointmentofMr.NiketGhateasaWholeTime For For Directorandremunerationtohim.AppointmentofMs.PrabhaParameswaranas For ForManaging Director of the Companies andremunerationtoher.ReappointmentofPriceWaterhouseasthe For For StatutoryAuditorsandtofixtheirremuneration.

PIDILITE INDUSTRIES LIMITED. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 24thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 Declarationofdividend. For For

ReappointmentofShriBansiMehtaasDirector For ForReappointmentofShriRanjanKapurasDirector For ForReappointmentofShriDBhattacharyaasDirector For ForReappointmentofShriA.B.ParekhasDirector For ForReappointmentofM/s.Haribhakti&Co.as StatutoryAuditorsandtofixtheirremuneration. For ForAppointmentofMr.SanjeevAgaasDirector For ForAppointmentofMr.R.SreeramasDirector For ForAppointmentofMr.R.SreeramasWholeTime For For Director.

Page 11: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

9

LIC HOUSING FINANCE LTD.

Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 24thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofShriK.NarasimhaMurthyas For For Director.ReappointmentofShriBNShuklaasDirector For ForReappointmentofM/sChokshi&Chokshi, For ForChartered Accountants and M/s Shah Gupta &Co.CharteredAccountantsasStatutoryAuditors.ConsenttoborrowmoneyasperSection293(1) For For (d)subjecttoaggregateof`1,50,000CroresAppointmentofShriSushobhanSarkeras For For ManagingDirectoroftheCompanyAppointmentofShriJagdishCapoorasDirector For ForAppointmentofMsSavitaSinghasDirector For For

THERMAX LIMITED

Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 26thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofDr.ValentinA.H.vonMassow, For For asDirectorReappointmentofDr.RaghunathAMashelkar For For asDirectorAppointmentofM/sBKKhare&Co.Chartered For For Accountants, as Statutory Auditors and todecidetheirremuneration.ReappointmentofMr.M.S.Unnikrishnanas For For ManagingDirectorandCEOofthecompany.

ITC LIMITED.

Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 27thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofShriA.Ruys,D.K.Mehrotra, For ForSBMathur,PVRamanujam,andABaijal asDirectors.ToappointM/sDeloitteHaskins&Sells, For ForCharteredAccountants, asAuditors and to fixtheirremuneration.ReappointedofMr.SerajulHaqKhanasDirector For For

Page 12: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

10

GODREJ PROPERTIES LIMITED. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 28thJuly, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofMrs.LalitaDGupte,asDirector For ForReappointmentofMr.SNarayanasDirector For ForReappointmentofMr.PranayDVakil,asDirector For ForReappointmentofDr.PritamSinghasDirector For ForToappointM/sKalyaniwalla&MistryChartered For For AccountsasAuditorsandtofixtheirremuneration. ToappointMr.V.SrinivasanasaDirectorofthe For For Company,notliabletoretirebyrotation.AppointmentofMr.PriojshaGodrejasthe For For ManagingDirectorandChiefExecutingOfficer andtofixtheirremuneration.AppointmentofMr.V.SrinivasanasExecutive For For Directorandtofixtheirremuneration.RevisioninRemunerationtoMr.K.TJithendran, For For ExecutiveDirectorasprovidedherein,with effect from 1stApril,2012AmendmenttothescheduleofDeploymentand For Forutilizationofnetproceedsarisingoutoftheissueof equity shares pursuant to the prospectus(on page 43) dated 16th December, 2009 (the“Prospectus”) files by the Company with theRegistrarofCompanies,Mumbai,Maharashtra.

CROMPTON GREAVES LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 3rdAugust, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofMr.SLabrooasDirector For ForReappointmentofSPTalwarasDirector For ForReappointmentofDr.V.VonMassowasDirector For ForReappointmentofSharp&TannanChartered For For AccountantsasStatutoryAuditorsandtofix theirAppointment.

INDIAN HOTELS Ltd. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain) 3rdAugust, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofMr.JagdishCapoor,asDirector For ForReappointmentofMr.K.B.Dadiseth,asDirector For ForReappointmentofMr.NadirGodrej,asDirector For ForToappointauditorsandfixtheirremuneration. For ForIncreaseintheNumberofDirectors For ForAppointmentofMehernoshS.Kapadia,asdirector For For oftheCompany.AppointmentofMehernoshS.Kapadia,as For For Whole-timeDirectoroftheCompany.

Page 13: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

11

CIPLA LTD. Date Type of Meeting Proposal Management Vote (For/ (AGM / EGM) Recommendation Against / Abstain)17thAugust, AGM AdoptionofAccountsasat31.03.2012 For For 2012 DeclarationofDividend For For

ReappointmentofDr.H.R.Manchanda,asDirector For ForReappointmentofMr.V.C.Kotwal,asDirector For ForReappointmentofV.SankarAiyarandCo. For ForChartered Accountants together with M/sR.G.N. Price and Co. Chartered AccountantsasStatutoryAuditors.AppointmentofDr.RanjanPai,asDirector For For

8. Statutory Information(a) TheSponsorsarenotresponsibleorliableforanylossresultingfromtheoperationoftheSchemesoftheFund

beyondtheirinitialcontributionof`1lakhforsettinguptheFund.

(b) Thepriceandredemptionvalueoftheunits,andincomefromthem,cangoupaswellasdownwithfluctuationsinthemarketvalueofitsunderlyinginvestments.

(c) FullAnnualReport isdisclosedonthewebsite(www.saharamutual.com)andshallbeavailable for inspectionattheHeadOfficeoftheMutualFund.Presentandprospectiveunitholderscanobtaincopyofthetrustdeed,thefullAnnualReportoftheFund/AMCfreeofcost.

AcknowledgementsThe Trustees would like to thank all the investors for reposing their faith and trust in Sahara Mutual Fund. The Trusteesthank the Securities and Exchange Board of India, the Reserve Bank of India, the Sponsor, the Board of the SaharaAssetManagementCompanyPrivate Limited, andAssociation ofMutual Funds in India for their support, co-operation andguidanceduringtheperiod.

Wearealso thankful to theAuditors,RegistrarandTransferAgents,Custodian,Banks,Depositories,AMFI /NISMCertifiedDistributors, KYC Registration Agencies and other service providers for their continuous support. The Trustees alsoappreciate theeffortsmadeby theemployeesofSaharaAssetManagementCompanyPrivateLimitedandplaceon recordtheircontributioningoodperformanceoftheschemes.

We look forward for your continued support and assure you of our commitment at all times in managing the schemes ofSaharaMutualFund.

ForandonbehalfofSaharaMutualFund

Sd/-Place : Mumbai Justice S MohanDate : 11thJune,2013 Trustee

Page 14: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

12

INDEPENDENT AUDITOR’S REPORT

TotheTrusteesofSaharaMutualFund

Report on the Financial StatementsWe have audited the accompanying financial statements of Sahara Mutual Fund – Sahara Income Fund (“the Scheme”),which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and asummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.

Management’s Responsibility for the Financial Statements

The Trustees of Sahara Mutual Fund and the Management of SaharaAsset Management Company Private Limited (the“Management”)areresponsibleforthepreparationofthesefinancialstatementsthatgiveatrueandfairviewofthefinancialposition and financial performance of the Scheme in accordance with the accounting policies and standards specified inthe Ninth Schedule of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and amendmentsthereto, as applicable. This responsibility includes the design, implementation andmaintenance of internal control relevantto the preparation and presentation of the financial statements that give a true and fair view and are free from materialmisstatement,whetherduetofraudorerror.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit inaccordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of materialmisstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditorconsiders internalcontrol relevant to theCompany’spreparationand fairpresentationof thefinancialstatements inorder todesignauditprocedures thatareappropriate in thecircumstances.Anauditalso includesevaluating theappropriatenessofaccountingpoliciesusedand the reasonablenessof theaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements.

Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.

Opinion

Inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous,thefinancialstatementsgivethe informationrequiredbytheSecuritiesandExchangeBoardof India(MutualFunds)Regulations,1996andamendmentsthereto, asapplicable, in themanner so requiredandgivea trueand fair view in conformitywith theaccountingprinciplesgenerallyacceptedinIndia:

(a) inthecaseoftheBalanceSheet,ofthestateofaffairsoftheSchemeasatMarch31,2013;

(b) inthecaseoftheRevenueAccount,ofthesurplusfortheyearendedonthatdate.

Report on Other Legal and Regulatory Requirements

Asrequiredby theSecuritiesandExchangeBoardof India (MutualFunds)Regulations,1996andamendments thereto,asapplicable,wereportthat:

a) Wehaveobtainedall theinformationandexplanations,whichtothebestofourknowledgeandbeliefwerenecessaryforthepurposeofouraudit.

Page 15: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

13

b) The statement of account has been prepared in accordancewith the accounting policies and standards specified intheNinthScheduleoftheSecuritiesandExchangeBoardofIndia(MutualFunds)Regulations,1996andamendmentsthereto,asapplicable.

c) Wehave reviewed theValuationPolicybeing followed for theschemesofSaharaMutualFund.TheValuationPolicyimplementedfortheschemesisconsistentandisinlinewiththeSEBIguidelinesissuedinthisregard.

d) The methods used to value non-traded/thinly traded securities as at March 31, 2013 as determined by theManagementunderproceduresapprovedbytheTrusteesofSaharaMutualFundinaccordancewiththeguidelinesforvaluationofsecuritiesformutualfunds,issuedbytheSecuritiesandExchangeBoardofIndia,arefairandreasonable.

For CHATURVEDI & CO Chartered Accountants (Firm’sRegistrationNo.302137E)

Sd/- (S.N. Chaturvedi)Place : Mumbai PartnerDate : 11thJune,2013 M.No.:040479

Page 16: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

14

ABRIDGED BALANCE SHEET AS AT 31ST MARCH, 2013 (`inlakhs) SAHARA INCOME FUND As at ended As at ended 31/03/2013 31/03/2012

LIABILITIES1 Unit Capital 3,298.61 139.922 Reserves & Surplus2.1 UnitPremiumReserves 167.12 5.552.2 UnrealisedAppreciationReserve 1.39 –2.3 OtherReserves 3,930.66 138.823 Loans & Borrowings – –4 CurrentLiabilities&Provisions4.1 ProvisionfordoubtfulIncome/Deposits – –4.2 OtherCurrentLiabilities&Provisions 303.78 0.88 TOTAL 7,701.56 285.17 ASSETS1 Investments1.1. ListedSecurities:1.1.1 EquityShares – –1.1.2 PreferenceShares – –1.1.3 EquityLinkedDebentures – –1.1.4 OtherDebentures&Bonds – –1.1.5 SecuritisedDebtsecurities – –1.2 Securities Awaited Listing:1.2.1 EquityShares – –1.2.2 PreferenceShares – –1.2.3 EquityLinkedDebentures – –1.2.4 OtherDebentures&Bonds – –1.2.5 SecuritisedDebtsecurities – –1.3 Unlisted Securities1.3.1 EquityShares – –1.3.2 PreferenceShares – –1.3.3 EquityLinkedDebentures – –1.3.4 OtherDebentures&Bonds – –1.3.5 SecuritisedDebtsecurities – –1.4 GovernmentSecurities – –1.5 TreasuryBills – –1.6 CommercialPaper – –1.7 CertificateofDeposits 6,300.31 272.921.8 BillRediscounting – –1.9 UnitsofDomesticMutualFund – –1.10 ForeignSecurities – –1.11 CollateralizedBorrowingandLendingObligation(CBLO) 399.39 – Total Investments 6,699.70 272.922 Deposits – –3 Other Current Assets3.1 Cash&BankBalance 5.28 0.413.2 ReverseRepoLending 939.37 10.603.3 Others 57.21 1.244 Deferred Revenue Expenditure (totheextentnotwrittenoff) – – TOTAL 7,701.56 285.17

NotestoAccounts–1

Page 17: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

15

ABRIDGED REVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31ST MARCH, 2013 (`inlakhs) SAHARA INCOME FUND Current year / period Current year / period ended 31/03/2013 ended 31/03/2012

1 INCOME1.1 Dividend – –1.2 Interest 236.83 76.571.3 RealisedGain/(Loss)onForeignExchangeTransactions – –1.4 RealisedGains/(Losses)onInterschemesaleofinvestments – –1.5 RealisedGains/(Losses)onExternalsale/redemption ofinvestments 0.48 4.361.6 RealisedGains/(Losses)onDerivativeTransactions – –1.7 OtherIncome (A) 237.31 80.932 EXPENSES2.1 Managementfees 2.29 1.512.2 ServicetaxonManagementfees 0.28 0.162.3 InvestorEducation&AwarenessFees 0.52 –2.4 Transferagentsfeesandexpenses 2.17 0.592.5 Custodianfees 0.94 0.142.6 Trusteeshipfeesandexpenses 0.34 0.092.7 CommissiontoAgents 0.05 0.002.8 Marketing&Distributionexpenses 0.39 0.012.9 Auditfees 1.40 0.152.10 Otheroperatingexpenses* 1.12 0.17 (B) 9.50 2.823 NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD (A -B = C) 227.81 78.114 ChangeinUnrealisedDepreciationinvalueof investments(D) 0.70 –5 NET GAINS / (LOSSES) FOR THE YEAR / PERIOD (E=(C-D)) 227.11 78.116 Changeinunrealisedappreciationinthevalueofinvestments (F)7 NET SURPLUS / (DEFICIT) FOR THE YEAR / PERIOD (E+F=G) 227.11 78.117.1 Add:BalancetransferfromUnrealisedAppreciationReserve – –7.2 Less:BalancetransfertoUnrealisedAppreciationReserve – –7.3 Add:IncomeEqualisationReserve 3,564.73 (1,053.03)

8 Total 3,791.84 (974.92)

9 Dividend appropriation9.1 IncomeDistributedduringtheyear/period – –9.2 Taxonincomedistributedduringtheyear/period – –10 RetainedSurplus/(Deficit)carriedforwardtoBalanceSheet 3,791.84 (974.92)

• *Includescostsrelatingtoinvestorcommunication,insuranceandtransactioncosts.• NotestoAccounts–Annexure1

Page 18: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

16

NOTES TO ACCOUNTS – ANNEXURE 1 TO THE ABRIDGED BALANCE SHEET AND REVENUE ACCOUNT FOR THE YEAR / PERIOD ENDED 31ST MARCH, 2013

1. Investments :-1.1 Certain investments are registered in the name of the Fund without specific reference to the Scheme.As at March

31,2013theaggregatemarketvalueofsecuritiesunderSaharaIncomeFundbutheld in thenameofSaharaMutualFundis`9,40,50,509.81

1.2 The Registrar and Transfer Agents charges amounting to ` 217233.19 and Internal Audit Fees amounting to` 101108.00constitutes22.87%&10.64%respectivelyofthetotalschemesexpenses.

1.3 OpenPositionofderivatives(outstandingmarketvalue&%toNetAssetsasoftheYearend).Nil1.4 Investments in Associates and Group Companies: Provide details of issuer, nature of instruments, amount, and

aggregateinvestmentsbyallschemes.Nil1.5 OpenpositionofSecuritiesBorrowedand/orLendingbythescheme.Nil1.6 DetailsofNPA:Aggregatemarketvalueandprovisionthereof.Nil1.7 AggregateUnrealisedGain/LossasattheendoftheFinancialYear/Periodandpercentagetonetassets.

31-Mar-13 31-Mar-12

Asset Class Apprecia- % to Deprecia- % to Apprecia- %to Deprecia- %to tion (` in Net tion (` in Net tion(` in Net tion(` in Net lakhs) Assets lakhs) Assets lakhs) Assets lakhs) AssetsBonds/NCDs – – – – – – – –MMI’s 1.39 0.02 0.70 0.01 – – – –Government Securities – – – – – – – –

1.8 AggregateValueofPurchaseandSalewithPercentagetoaverageassets.

PurchasesYear Amount in ` % of Daily Average 2012-13 26,432,069,344 9341.532011-12 826,759,013 1009.00

SalesYear Amount in ` % of Daily Average2012-13 25,804,842,319 9119.862011-12 1,059,364,933 1292.88

1.9 Non-Traded securities in the portfolio: Provide Aggregate Value of Equity, Debt & Money Market Instruments andpercentagetonetassets.

31st March, 2013 31stMarch,2012Scheme Name Category Market value % to Net Marketvalue %toNet (` in lakhs) Assets (`inlakhs) Assets

SaharaIncome MoneyMarket Fund Instruments 7397.78 100.00 284.28 100.00

2. Details of Transaction withAssociates under regulation 25(8). Brokerage to SIFCLA/c CMSD (Associate) has beenmadeforsaleofunitsoftheMFason31stMarch2013

Commission to SIFCL A/c CMSD (Associate) made for sale of units of the MF for the current year ended 31st March 2013.

(`inlakhs) Tax Gain Growth Liquid Mid cap Wealth Plus Short Term Infrastructure Fund Fund Fund Fund Fund Bond Fund 0.40 0.24 0.04 0.25 0.05 0.01 0.11

Page 19: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

17

(`inlakhs) R. E. A. L Star Value Super 20 Power and Natural Banking & Financial Income Fund Fund Fund Fund Resources Fund Services Fund 0.00 0.04 0.08 0.00 0.58 0.00 CommissiontoSIFCLA/cCMSD(Associate)madeforsaleofunitsoftheMFforthecurrentyearended31stMarch2012.

(`inlakhs)

TaxGainFund GrowthFund LiquidFund MidCapFund WealthPlusFund InfrastructureFund 0.52 0.31 0.07 0.29 0.08 0.15

(` inlakhs) R.E.A.L StarValue Super20 PowerandNatural Banking&Financial IntervalFund– Fund Fund Fund ResourcesFund ServicesFund QuarterlyPlanSr1 0.00 0.08 0.18 0.15 0.73 0.00

Commission paid to associates / related parties /group companies of Sponsor / AMC

Name of associate / Nature of Business given Commission paid related parties / group association / Period (` cr and % of total (` & % of total companies of nature of Covered business received commission paid Sponsor / AMC relation by the fund) by the fund (1) (2) (3) (4) (5) SIFCL A/c CMSD Sponsor / Mutual April 12- (0.81 & 0.24%) (` 1,80,802.67; 8.82%) Fund Distributor March 13 SIFCLA/cCMSD Sponsor/Mutual April11- (0.97&0.07%) (`2,57,503.28;9.83%) FundDistributor March12

IncolumnNo4,thetotalbusinessreceivedbythefundincludesbusinessthroughARNs&alsodirectbusiness.IncolumnNo5,theamountincludestheupfrontandthetrail.

Brokerage paid to associates / related parties / group companies of Sponsor / AMC Name of associate / Nature of Value of Transaction Brokerage related parties / group association / Period (in ` cr & of Total (` Cr & % of total companies of nature of Covered value of Transaction brokerage Sponsor / AMC relation of the Fund) paid by the Fund) – – – – –

Therearenoassociatebrokers,hencenotapplicablefortheperiodApril–Mar2013&April–Mar2012.

3. LargeHoldingsintheScheme(i.e.inexcessof25%ofthenetassets):

Particulars As on March 31, 2013 As on March 31, 2012Number of Investors 2 1PercentageofHoldings 70.41% 36.52%

4. UnitCapitalmovementduringtheyearended/periodendedMarch31,2013

Growth Option

Number of Units Amount (`) NumberofUnits Amount(`) As on As on As on As on March 31, 2013 March 31, 2013 March31,2012 March31,2012

InitialCapital 20,125,350.000 201,253,500.00 20,125,350.000 201,253,500OpeningBalance 1,296,505.612 12,965,056.12 13394109.160 133,941,092UnitsSoldduringtheyear 30,056,952.350 300,569,523.53 1161414.030 11,614,140UnitsRepurchasedduringtheyear (22,644,473.740) (226,444,737.40) (13259017.578) (132,590,176)ClosingBalance 8,708,984.225 87,089,842.25 1296505.612 12,965,056

FaceValueofUnits:`10perunit

Page 20: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

18

Growth Option - Direct Number of Units Amount (`) NumberofUnits Amount(`) As on As on As on As on March 31, 2013 March 31, 2013 March31,2012 March31,2012

InitialCapital – – – –OpeningBalance – – – –Unitssoldduringtheyear 42,701,801.510 427,018,015.10 – –Unitsrepurchasedduringtheyear (18,525,608.790) (185,256,087.94) – –ClosingBalance 24,176,192.720 241,761,927.16 – –

FaceValueofUnits:`10perunit Dividend Option

Number of Units Amount (`) NumberofUnits Amount(`) As on As on As on As on March 31, 2013 March 31, 2013 March31,2012 March31,2012

InitialCapital 2,405,600.000 24,056,000.00 2,405,600.000 24,056,000

OpeningBalance 102,687.402 1,026,874.02 115326.149 1,153,261

UnitsSoldduringtheperiod 12,605.414 126,054.14 19096.678 190,967

UnitsRepurchasedduringtheperiod (14,402.163) (144,021.63) (31735.425) (317,354)

ClosingBalance 100,890.653 1,008,906.53 102687.402 1,026,874

FaceValueofUnits:`10perunit.

Dividend Option - Direct Number of Units Amount (`) NumberofUnits Amount(`) As on As on As on As on March 31, 2013 March 31, 2013 March31,2012 March31,2012

InitialCapital – – – –OpeningBalance – – – –Unitssoldduringtheyear 54.690 546.90 – –Unitsrepurchasedduringtheyear – – – –ClosingBalance 54.690 546.90 – –

FaceValueofUnits:`10perunit

5. Expensesotherthanmanagementfeeisinclusiveofservicetaxwhereapplicable.6. Previous year figures have been reclassified/regrouped, wherever necessary, to conform to the current year’s

classification.7. ContingentLiability:Nil

Mutual Fund investments are subject to market risks read all scheme related documents carefully.

Page 21: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

19

KEY STATISTICS FOR THE YEAR / PERIOD ENDED 31ST MARCH, 2013 SAHARA INCOME FUND Current Year / Period Previous Year / Period ended 31/03/2013 ended 31/03/2012

1. NAV per unit (`): Open GrowthPlan 20.5780 18.7894 DividendPlan 16.9479 15.4751

Repurchase Price during the year**

(i) Highest GrowthPlan 22.3074 20.5780 DividendPlan 18.3721 16.9479 DirectGrowthPlan 22.3081 – DirectDividendPlan 18.3793 –

(ii) Lowest GrowthPlan 20.4992 18.8221 DividendPlan 16.8830 15.5020 DirectGrowthPlan 21.8835 – DirectDividendPlan 18.0231 –

Resale Price during the year**

(i) Highest GrowthPlan 22.4195 20.5780 DividendPlan 18.4644 16.9479 DirectGrowthPlan 22.4202 – DirectDividendPlan 18.4717 –

(ii) Lowest GrowthPlan 20.6022 18.8221 DividendPlan 16.9678 15.5020 DirectGrowthPlan 21.9935 – DirectDividendPlan 18.1137 – End GrowthPlan 22.4385 20.5780 DividendPlan 18.4800 16.9479 DirectGrowthPlan 22.4393 – DirectDividendPlan 18.4873 –

2. Closing Assets Under Management (` in Lakhs) End 7397.78 284.28 Average(AAuM) 2829.52 819.38

3. Grossincomeas%ofAAuM1 8.39% 9.88%

Page 22: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

20

KEY STATISTICS FOR THE YEAR / PERIOD ENDED 31ST MARCH, 2013 SAHARA INCOME FUND Current Year / Period Previous Year / Period ended 31/03/2013 ended 31/03/2012

4. ExpenseRatio: a. TotalExpenseas%ofAAuM 0.34% 0.34% b. ManagementFeeas%ofAAuM 0.09% 0.20%

5. NetIncomeasapercentageofAAuM2 8.05% 9.53%

6. PortfolioTurnoverRatio3 9119.86 1009.00

7. TotalDividendperunitdistributedduringtheyear/period Nil Nil

8. Returns(%): a. One year SaharaIncomeFund-GrowthOption% 8.95 9.52 CRISILCompositeBondFundIndex(%) 9.24 7.68

b. Since Inception SaharaIncomeFund–GrowthOption% 7.54 7.40 CRISILCompositeBondFundIndex(%) NA* NA*

**basedonthemaximumloadduringtheyear*asindexlaunchedonMarch31st,20021. Grossincome=amountagainst(A)intheRevenueaccounti.e.Income.2. Netincome=amountagainst(C)intheRevenueaccounti.e.NetRealisedGains/(Losses)fortheYear/Period3. PortfolioTurnover=LowerofsalesorpurchasedividedbytheAverageAuMfortheyear/period.

Page 23: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by
Page 24: Sahara Income Fund 1saharamutual.com/downloads_files/financials/13.Sahara Income Fund - 2013.pdf(a) Sahara Mutual Fund. Sahara Mutual Fund (SMF) has been thestablished as a Trust by

SaharaIncomeFund-IF


Recommended