METHODOLOGY

The objective oI the present study can be accomplished by conducting a systematic market
research. Market research is the systematic design, collection, analysis and reporting oI data and
Iindings that are relevant to diIIerent marketing situations Iacing the company. The marketing
research process that will be adopted in the present study consists oI the Iollowing stages

a) Defining the problem and the research objective: The research objective states what
inIormation is needed to solve the problem. The objective oI the research is to Iind out the
Iacilities provided in mutual Iunds and share market and what will be its beneIits in the Iuture.

b) Developing the research plan: Once the problem is identiIied, the next step is to prepare a
plan Ior getting the inIormation needed Ior the research. The present study will adopt the
exploratory approach wherein there is a need to gather large amount of inIormation beIore
making a conclusion. II required, the descriptive and casual approaches may also be used.

c) Collection and Sources of data: Market research requires two kinds oI data, i.e., primary
data and secondary data. No, primary data has taken into consideration.Secondary data will be
collected Irom various journals, books and web sites.
SOURCES OF DATA COLLECTION

r|mary source rlmary daLa are Lhose daLa whlch are collecLed by fresh and for Lhe flrsL Llme and Lhus happen
Lo be orlglnal daLa
Secondary source Secondary daLa are Lhose daLa whlch are collecLed from Lhe already exlsLlng lnformaLlon
Lhrough reference 1he secondary daLa has been collecLed by analyzlng varlous maLerlals llke company proflles
[ournals and relaLed webslLes
d) Analyze the collected information: This involves converting raw data into useIul
inIormation. It involves tabulation oI data and using statistical measures on them Ior developing
Irequency distributions and calculating the averages and dispersions.
e) Report research findings: This phase will mark the culmination oI the marketing research
eIIort. The report with the research Iindings is a Iormal written document. The research Iindings
and personal experience will be used to propose recommendations to develop the market in
online trading.

er|od of the study
1he pro[ecL duraLlon ln u8S CPCLAMAnuALAM ls abouL 43 uA?S
LIMI1A1ICNS
As Lhe pro[ecL perlod ls llmlLed Lhe longLerm daLa of MuLual lunds are noL Laken lnLo
conslderaLlon ln analysls secLlon

MuLual lunds of only llve organlzaLlons are Laken lnLo accounL for analyzlng Lhelr performance
because Lhe Llme duraLlon of Lhe pro[ecL ls shorL and llmlLed 1he performance of Lhese funds
slnce lncepLlon are noL consldered
1he daLa Laken lnLo accounL for analysls ls very general confldenLlal daLa ls lgnored as lL ls hlghly
senslLlve As a resulL Lhe lnformaLlon presenLed ln Lhe research reporL ls llmlLed


DATA ANALASYS AND INTERPRETATION
1. HDFC TAX SAVER
2. CANARA ROBECO TAX SAVER
3. RELIANCETAX SAVER
4. SBI MAGNUM TAX GAIN
. ICICI PRUDENTIAL TAX PLAN.
DFC Asset Management Company Limited (AMC)

HDFC Asset Management Company Ltd (AMC) was incorporated under the Companies Act,
19, on December 10, 1999, and was approved to act as an Asset Management Company Ior
the HDFC Mutual Fund by SEBI vide its letter dated July 3, 2000.

The registered oIIice oI the AMC is situated at Ramon House, 3rd Floor, H.T. Parekh Marg, 19,
Back bay Reclamation, Church gate, Mumbai - 400 020.

In terms oI the Investment Management Agreement, the Trustee has appointed the HDFC Asset
Management Company Limited to manage the Mutual Fund. The paid up capital oI the AMC is
Rs. 2.11 crore.

The present equity shareholding pattern oI the AMC is as Iollows:
Particulars of the paid up equity capital
Housing Development Finance Corporation Limited 0
Standard LiIe Investments Limited 40

Trustee:
HDFC Trustee Company Limited, a company incorporated under the Companies Act, 19 is the
Trustee to HDFC Mutual Fund vide the Trust deed dated June 8, 2000, as amended Irom time to
time. HDFC Trustee Company Ltd is wholly owned subsidiary oI HDFC
Products oIIered by HDFC AMC:
1. EQUITY FUNDS.
2. LIQUID FUNDS
1. CHILDREN`S GILT FUND
2. DEBT/INCOME FUND.
3. FIXED MATURITY PLAN.
4. QUARTERLY INTERVAL PLAN


HDFC TAX SAVER :( EQUITY FUNDS)
OBJECTIVE OF THE SCHEME: The investment objective oI the Scheme is to achieve long
term growth oI capital. And provides Tax exemption Under Sec80C Ior investment. And
provides Tax Iree returns 10(10D).
PortIolio allocation oI the Iund:
1ax Saver
1hls scheme ls more focused Lowards 1echnology
SecLor 8aslc/Lnglneerlng and AuLomoblles ln whlch
lnvesLed more Lhan 40 of Lhe LoLal amounL 1he
Lop holdlng ln Lhls scheme ls 8ellance
CommunlcaLlons MaruLl udyog lLd AdlLya 8lrla
nuvo whlch hold more Lhan 12 ln Lhls scheme


According above portIolio Iund manager has given highest priority to toward technology,
engineering NBFC, housing Iinance stocks, next preIerence given to health care, which is also
given higher returns in the given period. Least priority towards communication and construction,
which are not participated in the rally.
It clearly indicates that, the above mentioned least priority stocks, underperIormed sectors Ior the
given period, major Iall happen even in positive markets also.
We can say this is one kind oI advantage Irom mutual Iund.

PerIormance oI the Iund when Compare to bench mark`
Reason Ior compare with benchmark: the Iund mainly Iocused on equity and equity related
instruments, the bench mark is Index, Ior a particular period, returns generated by index and
returns generated by the product.
The above graph clearly indicating that returns generated by Iund is more than bench mark, it
indicates, company appoints active Iund manager to manage Iund.
Investment pattern oI the Iund
Investment Pattern
The asset allocation under the respective Plans will be as Iollows:
Sr.No. Asset Type ( OI PortIolio) Risk ProIile
1 Equities & Equity related instruments Minimum 80 Medium to
High
2 Debt Securities, Money Market
instruments(including cash/call money)
Maximum 20 Low to Medium

Plan options in this scheme:
1. Growth Option
2. Dividend Payout
3. Dividend Re-Investment.
Illustration Ior growth Option: Illustration Ior the period oI 3 years.
NAV as on 1
st
September 2007 is 1.033
NAV as on 31
st
August 2010 is 234.173
Returns generated Ior the period is 41.04 (FOR 3 YEARS)

Illustration Ior Dividend Option:
NAV as on 1
st
September 2007 is 9.837
NAV as on 31
st
August 2010 is .78
Dividend payout Ior the given period: 7
th
march2008 80 and th march 2009 0 and 4
th

March 2010 is 0 on Face value.
The total Returns generated Ior the above Iund is
First year Rs. 8 dividend and second year Rs. dividend and third year rs. dividend, distributed
to the investor by the company.
The total returns paid during the year are Rs19 and the returns are 27.
Returns given by dividend NAV is (negative) -.7
According to investor the total returns generated by him on investment is 21
Reasons Ior changes in returns when compare to Growth and dividend.
For the investors who opted Ior growth their amount is compounding in market till maturity,
where as in dividend option, investment compounds but, company is sharing proIits with
investors during the period.
Assume that, iI the same amount again re invested in the market, he would have get near to
growth Iund returns.
Concept oI investor to opt Ior dividend option: when investor is opting Ior long term investment
in equities, he will expect some kind oI returns to secure principle amount beIore maturity.
In the above situation investor almost get back Rs19, and again his principle is secured in the
market aIter 3 years also.
The Scheme may also invest up to 2 oI net assets oI the Scheme in derivatives such as Futures
& Options and such other derivative instruments as may be introduced Irom time to time Ior the
purpose oI hedging and portIolio balancing and and other uses as may be permitted under the
regulations and guidelines.
Reason for going derivatives: as a part of portfolio selection, they used to invest in equity
and equity related instruments, derivatives is a product equity related instrument. The
investment in Derivatives purely based on Margin. Margin amount has to deposit with
exchanges.

According to above Investment pattern, in any market conditions either bearish or bullish,
the fund manager has to invest min of 80 in direct equity. When fund manager expects
correction in market, even those conditions also he used to invest according to investment
pattern.
Ex: in the year 2008, market faced for higher correction. The index falls from 22000 to
7000. More than 60 fall in one year period.
Reliance Industries, trades with the price oI Rs.100 approx. and INFOSYS, trades with the price
oI 1800, And SBI price oI 2300 when index is in 22000 levels. Assume that the portIolio weight
oI these three companies approx 1. From the Iund.
The values oI above 3 companies in the year oI 2009, when market is in 7000 levels
1. RELIANCE : 70
2. INFOSYS : 10
3. SBIN ; 1100
Every stock in down trend due to correction. So, the 1 oI portIolio in negative, and remaining
portIolio is also in negative because maximum exposure given towards equity only.
How derivatives minimizes risk:
As I came to know that about derivatives in my FINANCIAL RISK MANAGEMENT, subject,
which explains, derivatives purely works on Contract basis, and Margin basis, and lot size basis.
Clear concept:
1. One can go Ior long, with bullish strategy: ex: Reliance Industries trades with 1000 and
expected price is 1200.
To buy One lot oI RELIANCE contains 300 units 1000 300 000, contract size.
But margin amount require to trade is only 7000.
When reliance reaches 1200, the investor gets proIit oI 0000/-.
In the above concept one is buying means the other person is selling: strategy Ior other person is
with bearish strategy, he is looking price Iall in RELIANCE Ior the same period.
To sell one lot oI RELIANCE 300 1000 300000
Here also margin amount require 7000.
He expected price Iall in reliance, but it increased to 1200
Illustration: Rs200 appreciation on 300 units, 0 k loss.
Explanation: in the above example one person is gaining 0k and other person is losing 0k.
Assume that both transactions done by same person no proIit no loss.
According to scheme objective, the scheme can invest up to 2 oI amount in derivatives, which
is equity related product.
HDFC Iund manager is a very active Iund manager, proved it.
Assume that Iund manager expected correction when market is 22000. And sold all the 1
weighted stocks Irom portIolio in derivatives. With the margin amount oI 4 Irom net assets.
The 4 oI Investment given the security to investment.
Illustration: the Iall happen in equity, and share price decreased to nearby 0 each stock, but
with the advantage oI hedging strategy in derivatives, he made no losses even in the correction.
Because oI investor saIety, SEBI introduced derivatives concept in mutual Iund in 2009.
Performance evaluation of the fund:
MCN1S vALuLS
ANUAk 198101
kUAk 194917
MAk 196813
AkIL 208199
MA 208423
UN 20319
UL 21666
AUGUS1 223398
S1Mk 234173
C1Ck 234238
NCVMk 233338
Mk 249066



The above chart indicates yearly perIormance Irom 1
st
January 2010 to 31
st
December 2010. The
NAV as on 1
st
January 2010 is 198.10 and NAV on 31
st
December 2010 is 249.0. The growth
Ior the given period is more than 2. In given period
Index value Ior the given period is 300.3 and 249.1 are respectively.
Returns generated by index Ior given period is approx 70. Index has given 30 Less returns
than the Iund. Again it seems activeness oI Fund manager.
0
30
100
130
200
230
300
VALUS
vALuLS
But the investor cannot utilize above generated returns. Because it`s a Tax exemption scheme
Irom HDFC. II investors want to get beneIit oI 80c and 1010d, the investment has to be locked
Ior at least 3 years.
The perIormance oI the scheme in longer term.
Fund has generated only 12.84 compounded returns in 3years period. For the period 2008-09
the Iund has given negative returns, because oI market Iall. On an average Iund has given only
13 returns. When compare with years returns Iund has given 2 returns approx.
All equity related instruments will give positive returns in longer run. So, the Iund works as long
term investment plan as well as useIul to children education also.

Why one should use this as a Tax exemption opportunity:
There are lot oI instruments provides tax exemptions, the reason, to invest in ELSS, are
ProIessional Iund managing, when investor ready Ior high risk he is getting high returns than
other tax saving bonds, and instruments available in the market and 100 tax Iree returns end oI
the maturity.


CANARA ROBECO TAX SAVER:
Canara Robeco Asset Management Company Limited (CRAMC), the investment managers oI
Canara Robeco Mutual Fund, is a joint venture between Canara Bank and Robeco oI the
Netherlands, a global asset management company that manages about US$ 180 Billion
worldwide. The joint venture brings together Canara Bank's experience in the Indian market and
Robeco's global experience in asset management.

Canara Robeco Mutual Fund is the oldest Mutual Fund in India, established in December 1987
as Canbank Mutual Fund. Subsequently, in 2007, Canara Bank partnered Robeco and the mutual
Iund was renamed as Canara Robeco Mutual Fund. Since then, it has consistently been one oI the
Iastest growing mutual Iunds in India in terms oI AUM, having grown 94 year-on-year Irom
March 2009 to March 2010. Our solutions oIIer a range oI investment options, including
diversiIied and thematic equity schemes, hybrid and monthly income Iunds and a wide range oI
debt and treasury products.

Canara Robeco AMC manages the assets oI Canara Robeco Mutual Fund by virtue oI an
investment management agreement dated 1th June 1993 (as amended Irom time to time). As oI
31 March 2010, the AMC has Rs. 9,220 crores oI average assets under management and has a
diverse proIile oI investors invested across 20 active schemes.

The current equity shareholding structure oI the AMC is as below:
Shareholder of paid up equity capital
Canara Bank 1
Robeco Group N.V. 49

Sponsors
Canara Bank
Canara Bank, established in 190, is a leading nationalised Bank operating in India and abroad,
through its network oI branches in India and oIIices in Hong Kong, China and the UK. The Bank
has a Iull suite oI Iinancial services oIIered Irom its various group companies and subsidiaries
such as CanIin Homes, Canara Bank Securities Ltd., Canara HSBC Oriental LiIe Insurance,
Canbank Factors Ltd., Canbank Financial Services, Canbank Venture Capital Fund & Canbank
Computer Services Ltd. Canara Bank has a total business oI over Rs. 4 Lakh crores mark and
serves 3.73 crore customers through a network oI over 3000 branches. The Bank is rated AAA
by CRISIL.
Robeco Group
Robeco Group N.V. is a leading international asset management specialist, 100 owned by the
AAA-rated Rabobank. Robeco is a pure-play asset manager established in 1890, with interests
across key markets worldwide, including the Netherlands, France, Germany, Spain, the United
States, Hong Kong, Japan, India, China amongst other markets. Robeco has assets under
management oI US Dollars 180 Billion as oI 31 December, 2009. Robeco has been engaged in
global asset management Ior over 80 years and over these years has specialized investment
capabilities in asset classes oI equity, Iixed income and money market, as well as in structured
and alternative investments, including hedge Iunds and private equity. Robeco is a global leader
in responsible investing.
PRODUCTS OFFERED UNDER AMS;
1. Equity Schemes
2. Hybrid Schemes
3. Debt oriented Schemes.
CANARA ROBECO TAX SAVER: category Equity schemes.
Scheme Objectives: To achieve long term capital appreciation by predominantly investing in
equities to Iacilitate the subscribers to seek tax beneIits as provided under Section 80 C oI the
Income Tax Act, 191.
Asset Allocation:
Instruments Minimum Maximum
Equity & Equity related 80 100
Money Market Instruments 0 20

Plans & Options:
Plan Name
Canara Robeco Equity Tax Saver - Growth Option
Canara Robeco Equity Tax Saver - Dividend Reinvestment Option
Canara Robeco Equity Taxsaver - Dividend Option






PortIolio allocation oI the Iund:
anara kobeco u|ty 1ax saver
1hls scheme ls more concenLraLed Lowards llnanclal
Lnergy and 1echnology secLors whlch hold more
Lhan 30 of Lhe LoLal markeLcap
1op holdlng ln Lhls scheme ls llCl lu8l and 8ellance
lndusLrles whlch holds more Lhan 20 ln Lhe
scheme


Illustration: when one observes clearly about portIolio allocation toward equity is approx 90.
In that the Iund manager has given high priority towards communication sector and construction,
which is given negative returns Ior the period.
It seems the decision making oI the Iund manager is right period while entering and exit and
creating portIolio
Mutual Fund Review: Canara Robeco Equity Tax Saver
Persora| F|rarce - Vulua| Furd
Tr|s |s ar a||-Wealrer lurd ard lre oesl-perlorr|rg, W|lr ar arrua||sed relurr ol 22 per cerl over lre l|ve-year per|od erded 0eceroer 21. Tre
lurd ras rol or|y |rpressed dur|rg lre rar|el ra|||es oul slood aparl W|lr |ls exce||erl doWrs|de prolecl|or capao|||l|es. A |ol ol lre
perlorrarce |s rel|ecled lror 3epleroer 2008, l|ve rorlrs aller lre reW lurd raragererl lear readed oy Arard 3rar jo|red.

we locused or lre doresl|c corsurpl|or lrere as We saW lre polerl|a| ol r|s|rg |rcores arorgsl lrd|ars ard lre|r ao|||ly lo sperd rore.
we oel or l|rarc|a|s, ul|||l|es, prarraceul|ca|s, exp|a|rs 3rar.

Tre lurd rarages `220 crore |r |ls porllo||o, lral g|ves |l lre recessary ag|||ly lo ra|e qu|c| sr|lls ard grao opporlur|l|es. wrer lre calegory
rad a 23 per cerl la||, lr|s lurd ||r|led |osses lo 11 per cerl |r lre quarler erd|rg 0eceroer 2008. Aga|r, |r Varcr 2009, Wrer lre rar|els
Were erler|rg lre ou|| rur, 3rar Was ao|e lo qu|c||y dep|oy casr uplo 9Z per cerl, resu|l|rg |r lre lurd oulperlorr|rg lre calegory oy e|grl per
cerl.
Tre lurd rarager lrequerl|y |rvesls ard se||s leW sloc|s |r lre porllo||o, us|rg a largel pr|ce ex|l slralegy. For |rslarce, Re||arce lrduslr|es,
Ax|s 8ar| ard Zee Erlerla|rrerl Erlerpr|ses are sloc|s |r Wr|cr lre lurd rarager ras dep|oyed lr|s slralegy, Wr|cr ras oeer prol|lao|e.
loWever, 3rar argues lrese |rslarces lo oe excepl|ors, as re rorra||y |rvesls W|lr a |org-lerr |rveslrerl ror|zor. Tre lurd |s We||
d|vers|l|ed, W|lr 52 sloc|s |r |ls porllo||o lral ra|es |l slao|e.

Sebi proposes to link equity fund management fees to returns show

Persora| F|rarce - Vulua| Furd
CAPlTAL rar|el regu|alor lre 3eo| |s cors|der|rg a proposa| urder Wr|cr lurd raragererl lees crarged oy rulua| lurds W|||
oe ||r|ed lo lre perlorrarce ol a screre. Currerl|y, lurd rouses car crarge a rax|rur ol 1.Z5 as rorey raragererl lee
lor equ|ly screres, |rrespecl|ve ol roW lre screres lare. lrveslor ood|es rave oeer corp|a|r|rg lo 3eo| lor sore l|re lral lre
ex|sl|rg lee slruclure ercourages rulua| lurds lo rax|r|se lre|r as-sels urder raragererl, ralrer lrar locus or de||ver|rg
super|or re-lurrs.


Tre proposa| lor relurrs-||r|ed raragererl lee Was d|scussed al a reel|rg W|lr |rveslor assoc|al|ors |asl Wee|, a persor
preserl al lre reel|rg lo|d ET. For |rveslors, lo pay lre rax|rur arourl |r a screre, Wr|cr |s cors|slerl|y urderperlorr|rg
|r re|al|or lo |ls oercrrar| |s urreasorao|e ard parl ol lre ourder srou|d oe srared oy lre rulua| lurd, sa|d ar |rlerra|
d|scuss|or paper.


Tre regu|alory group |oo||rg |rlo lre raller ras proposed lral lor equ|ly screres urderperlorr|rg W|lr|r 5 ol lre|r
oercrrar|s, lre ex|sl|rg lee slruclure car oe corl|rued. For screres urderperlorr|rg over 5 ol lre|r oercrrar|s, a graded
sysler ol decreas|rg lre lee srou|d oe cors|dered, aller laclor|rg |r lre ruroer ol years lre screre ras oeer |r ex|slerce.


urderslardao|y, rulua| lurds are rol loo exc|led aooul lre proposa|. Corceplua||y, |l |s a good proposa|. loWever, ore ras lo
cors|der lre pracl|ca| aspecls loo.


A rulua| lurd oll|c|a| oe||eves lral |l raragererl lee |s ||r|ed lo perlorrarce, lurd raragers ray la|e r|grer r|s| lo de||ver
lre relurrs. A|so, |l |s rar|el lorces lral srou|d delerr|re Wr|cr lurd rouse ar |rveslor puls rorey |r. ll lre perlorrarce |s
good, |rveslors W||| auloral|ca||y l|oc| lo lral lurd rouse, add|rg lral lre rove ray a|so resu|l |r rulua| lurds oecor|rg
quas|porllo||o raragererl serv|ce, Wrere lre lee |s pa|d oased or lre perlorrarce.


VFs rave oeer slrugg||rg lo allracl rorey |rlo lre|r equ|ly screres s|rce Augusl 2009, Wrer 3eo| oarred rulua| lurds lror
crarg|rg |rveslors lo pay lees lo d|slr|oulors. Fo||oW|rg lr|s rove, d|slr|oulors are se|||rg leWer rulua| lurd screres. Tre
|rduslry |osl arourd 5, or 18 |a|r equ|ly lo||os, |r lre l|rsl ra|l ol lr|s l|sca|.

Illustration Ior growth Option: Illustration Ior the period oI 3 years.
NAV as on 1
st
September 2007 is 19.4
NAV as on 31
st
August 2010 is 31.74
Returns generated Ior the period is 3.18 (FOR 3 YEARS)
MCN1S vALuLS
ANUAk 2197
kUAk 213
MAk 2387
AkIL 2423
MA 2367
UN 2433
UL 2343
AUGUS1 2643
S1Mk 283
C1Ck 2778
NCVMk

Mk
2721
2728


The perIormance oI the Iund Ior one year
On January 1
st
2010 recorded NAV is 21.97
0
100
200
300
1

!
a
n
1

l
e
b
1

M
a
r
1

A
p
r
1

M
a
y
1

!
u
n
1

!
u
l
1

A
u
g
1

S
e
p
1

C
c
L
1

n
o
v
1

u
e
c
VALUS
vALuLS
On 31
st
Decemebr 2010 Recorded NAV IS 27.28
Returns generated Ior given period is 24.1 Ior one year
Category returns Ior the same year is 18 only.
In tax saving schemes, we should not consider one year perIormance because, the Iund maturity
period is minimum 3 years.

ICICI PRUDENTIAL MUTUALFUND:
CORPORATE PROFILE:
ICICI Prudential Asset Management Company enjoys the strong parentage oI Prudential
plc, one oI UK's largest players in the insurance & fund management sectors and ICICI
Bank, a well-known and trusted name in Iinancial services in India. ICICI Prudential Asset
Management Company, in a span oI just over eight years, has Iorged a position oI pre-
eminence in the Indian Mutual Fund industry as one oI the largest asset management
companies in the country with average assets under management oI Rs. 81,017.2 Crore (as
oI Mar 31, 2010). The Company manages a comprehensive range oI schemes to meet the
varying investment needs oI its investors spread across 230 cities in the country.
Key Indicators
At inception - May 1998 As on Mar 31, 2010
Average Assets Under
Management
Rs. 160 Crore Rs. 81,017.62 Crore
Number of Funds Managed 2 40


Sponsors


ICICI Bank is India's second-largest bank with total assets oI Rs. 3,997.9 billion
(US$ 100 billion) at March 31, 2008 and proIit aIter tax oI Rs. 41.8 billion Ior the
year ended March 31, 2008. ICICI Bank is second amongst all the companies
listed on the Indian stock exchanges in terms oI Iree Iloat market capitalization
Free Iloat holding excludes all promoter holdings, strategic investments and cross
holdings among public sector entities. The Bank has a network oI about 1,308
branches and 3,90 ATMs in India and presence in 18 countries. ICICI Bank oIIers
a wide range oI banking products and Iinancial services to corporate and retail
customers through a variety oI delivery channels and through its specialised
subsidiaries and aIIiliates in the areas oI investment banking, liIe and non-liIe
insurance, venture capital and asset management. The Bank currently has
subsidiaries in the United Kingdom, Russia and Canada, branches in Unites States,
Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance
Centre and representative oIIices in United Arab Emirates, China, South AIrica,
Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established
branches in Belgium and Germany. ICICI Bank's equity shares are listed in India
on Bombay Stock Exchange and the National Stock Exchange oI India Limited
and its American Depositary Receipts (ADRs) are listed on the New York Stock
Exchange (NYSE). (Source: Overview at www.icicibank.com).





Headquartered in London, Prudential plc and its aIIiliated companies together
constitute one oI the world's leading Iinancial services groups. Prudential provides
insurance and Iinancial services in a number oI markets around the world,
including in Asia, the US, the UK, Europe and the Middle East. Founded in 1848,
the company has 249 billion in Iunds under management (as oI 31 December
2008) and more than 21 million customers worldwide.

Prudential has been writing liIe insurance in the United Kingdom Ior 10 years and
has had the largest long-term Iund in the United Kingdom, Ior over a century. In
the United Kingdom, Prudential is a leading retirement savings and income
solutions and liIe assurance provider. M&G is Prudential's Iund management
business in the United Kingdom and Europe, with almost 140 billion in Iunds
under management (as oI 31 December 2008). In the United States, Jackson
National LiIe, which we acquired in 198, is one oI the largest liIe insurance
companies providing retirement savings and income solutions.

In Asia, Prudential is the leading Europe-based liIe insurer in terms oI market
coverage and number oI top three ranking positions. It is also one oI the largest
and most successIul Iund managers in Asia with more top Iive market rankings
than any other regional player. Today, Prudential has liIe insurance and Iund
management operations spanning 13 diverse markets in Asia.

Prudential plc is incorporated and with its principal place oI business in the United
Kingdom. It is not aIIiliated in any manner with Prudential Financial, Inc., a
company whose principal place oI business is in the United States.

TYPE OF FUNDS UNDER AMC.
1. Thematic and Sectoral Iunds
2. DiversiIied Equity schemes
3. Child Care Plans
4. Income Multiplier Plans
. Balanced Funds
. Floating rate Funds and others.
ICICI Prudential Tax Plan:
Objective: To seek to generate long-term capital appreciation Irom a portIolio that is invested
predominantly in equity and equity related securities. And givies tax exemption under 80c


ICICI Prudential Tax Plan is an open-ended equity linked saving scheme (ELSS). It has a
lock-in period oI 3 years, which ensures that you compulsorily remain invested over this period.
This 3 year lock-in gives the Iund manager the Ilexibility to make strategic long term
investments in a diversiIied portIolio comprising a mix oI large and medium sized stocks, chosen
aIter careIul Iundamental research. All these stocks are growth oriented and have a patient, long
term style.
Returns generated by various tax investment products in market
1. PPF 12.00

2. PO TIME DEPOSITS 11.0

3. BANK DEPOSIT 8.0\

4. NSC BONDS 11.0

. ICICI TAX PLAN 19.13 CAGR.
PortIolio allocation:
III rudent|a| 1ax |an
1hls scheme ls more focused Lowards 1echnology
SecLor 8aslc/Lnglneerlng and AuLomoblles ln whlch
lnvesLed more Lhan 40 of Lhe LoLal amounL 1he
Lop holdlng ln Lhls scheme ls 8ellance
CommunlcaLlons MaruLl udyog lLd AdlLya 8lrla
nuvo whlch holds more Lhan 12 ln Lhls scheme


NOTE: Iast perIormance may not be same in the Iuture in equity related products.
PerIormance Irom January 1
st
2010 to 31
st
December 2010




MCN1S vALuLS
ANUAk 12248
kUAk 11969
MAk 12227
AkIL 22807
MA 22976
UN 22496
UL 13128
AUGUS1 13706
S1Mk 13834
C1Ck 13121
NCVMk 13177
Mk 13162


Recorded NAV`s Ior the given period are 122.48 and 11.2respectively.
The returns generated Ior the given period 24 approx
The maximum Iunds has given approx same kind oI returns Ior the above mentioned period. But
due to time gap, and decision making levels oI Iund manager returns changing in long term
Category has given 18 Ior the given period. For the above mentioned period Iund has given
more than returns than category.
When we are taking 1 year returns into consideration, we cannot evaluate perIormance oI the
Iund. Because the Iund lock in period is minimum 3 years.
The returns generated Irom 3 Iinancial years Irom 2007 to 2010.
Value as on 1
st
September 2007 is 9.0741. And as on 30
th
August 2010 value is138.2 Returns
generated Ior given period are 44 approx. 1
When we are taking one year data it is proving and giving more than 2, but when coming to
actual and working returns, not even less than 1. It seems equity markets Iluctuate more ,
0
30
100
130
200
230
300
III VALUS
vALuLS
there is lot oI volatility in stock markets. And the products purely works on basis oI stock
market only.
In the year 2008-09 Iinancial year stock market Ialls more than 0, so, the dame impact
automatically aIIected on these Iunds and unable to give more aggressive returns.
Note: values which I have taken Ior analysis those are recorded value Irom their respective sites.
Mutual Fund Focus - ICICI Prudential Tax
Plan
Feb 2010
Invextment Objectlve
O 1hls scheme lnvesLs ln equlLy and equlLy relaLed lnsLrumenLs and ls sulLable for lnvesLors looklng
for caplLal growLh
O Slnce Lhls scheme glves Lax beneflL u/s 80C Lhere ls a lock ln perlod of 3 years
[ S[aV Invext?
O An lndlvldual looklng aL lnvesLlng for Lhe long Lerm horlzon of aL leasL 33 years
O An lndlvldual wlLh moderaLe hlgh rlsk appeLlLe
O An lndlvldual looklng aL Sec 80C for Lax exempLlon up Lo 8s 100000
b[at te FanV Munuger - Mr. Sunkurun Nuren
O ducat|on 81ech (ll1 Chennal) and CuM (llM kolkaLa)
O xper|ence 8esearch and lund ManagemenL role aL 8efco Slfy SecurlLles lndla vL LLd PulC
SecurlLles LLd and ?oha SecurlLles
O Cther Schemes Managed lClCl rudenLlal ulscovery lund uynamlc lund lndo Asla LqulLy lund
Sceme etulx
1ype
An open ended 1ax Savlng
lund
M|n|mum
Investment
8s 300/
Incept|on ate AugusL 1999
Add|t|ona|
Investment
8s 300/
und Manager Sankaran naren ntry Load
Lumpsum nll
Sl nll
enchmark Index S Cnx nlfLy x|t Load
Lumpsum nll
Sl nll
und S|ze (As on 31st u|y
2009)
8s 1031 cr
Systemat|c
Investment |an
?es
Net Asset Va|ue (NAV) (As
on 3rd eb 2009)
CrowLh 11790
Systemat|c
W|thdrawa| |an
Avallable posL Lhe
compleLlon of lock ln
perlod of 3 yrs ulvldend 1738
erf[rmunce Revlew (x [n 9t Feb )

O lClCl rudenLlal 1ax lan has always managed Lo ouLperform lLs benchmark (S Cnx nlfLy)
O 8elng more Lhan 10 year old fund ln Lax savlng caLegory lClCl rudenLlal 1ax lan has proved lLs
worLh by conslsLenLly ouLperformlng lLs benchmark (S Cnx 300) and lLs peers wlLh a good
margln
[rtf[l[ nuxlx (x [n 9t Feb )

O SofLware harmaceuLlcal and Cll eLroleum are Lhe preferred secLors ln Lhe porLfollo
O lncreased exposure ls seen ln Lnglneerlng MeLals and Pouslng ConsLrucLlon secLor As a
resulL Lhe manager has boughL large number of shares ln klrloskar 8roLhers ln lasL 1 monLh
Obxervutl[nx
O 1he fund has conslsLenLly been performlng well when compared wlLh lLs benchmark and peers
8elng an LqulLy Llnked Savlng Scheme wlLh a lockln perlod of 3 years Lhe fund manager has Lhe
flexlblllLy Lo hold Lhe sLocks for long Lerm horlzon as Lhere ls llmlLed redempLlon pressure
O 1he fund manager has malnLalned a dlverslfled porLfollo across secLors and sLocks 1hls has
enabled Lhe fund Lo dlverslfy Lhe rlsk ln lnvesLmenLs made ln laggard secLor
O 1hls fund conslsLenLly follows Lhe sLraLegy of malnLalnlng a mulLl cap (large mld and small cap)
porLfollo feLchlng Lhe beneflL of dlfferenL markeL slLuaLlons currenLly holdlng over 30 exposure
Lo mld cap sLocks CreaLer mld cap holdlng has resulLed ln hlgh reLurns for Lhe fund ln Lhe recenL
markeL upLrend



STATE BANK OF INDIA - MUTUAL FUND
SBI Mutual Fund (SBI MF) is one of the largest mutual funds in the country with an investor base of
over 4.6 million. With over 20 years of rich experience in fund management, SBI MF brings forward
its expertise in consistently delivering value to its investors
Proven Skills in wealth generation:
SBI Mutual Fund is India`s largest bank sponsored mutual Iund and has an enviable track
record in judicious investments and consistent wealth creation.
The Iund traces its lineage to SBI - India`s largest banking enterprise. The institution has
grown immensely since its inception and today it is India's largest bank, patronized by
over 80 oI the top corporate houses oI the country.
SBI Mutual Fund is a joint venture between the State Bank of India and Socit General Asset
Management, one of the worlds leading fund management companies that manages over US$ 500
Billion worldwide.
Exploiting expertise, compounding growth:
In twenty years oI operation, the Iund has launched 38 schemes and successIully redeemed
IiIteen oI them. In the process it has rewarded it`s investors handsomely with consistently
high returns.
A total oI over .4 million investors have reposed their Iaith in the wealth generation
expertise oI the Mutual Fund.
Schemes oI the Mutual Iund have consistently outperIormed benchmark indices and have
emerged as the preIerred investment Ior millions oI investors and HNI`s.
Today, the Iund manages over Rs. 1,41 crores oI assets and has a diverse proIile oI
investors actively parking their investments across 3 active schemes.
The Iund serves this vast Iamily oI investors by reaching out to them through network oI
over 130 points oI acceptance, 28 investor service centers, 4 investor service desks and
district organizers.
SBI Mutual is the Iirst bank-sponsored Iund to launch an oIIshore Iund Resurgent India
Opportunities Fund.
Growth through innovation and stable investment policies is the SBI MF credo.
und house expert|se
The investment environment is becoming increasingly complex. Innumerable parameters
need to be Iactored in to generate a clear understanding oI market movement and
perIormance in the near and long term Iuture.

At SBIMF, we devote considerable resources to gain, maintain and sustain our proIitable
insights into market movements. We consistently push the envelope to ensure our
investors get the maximum beneIits year aIter year.
Research - the backbone of our Performance

Our expert team oI experienced and market savvy researchers prepare comprehensive
analytical and inIormative reports on diverse sectors and identiIy stocks that promise high
perIormance in the Iuture.

This team works in tandem with a compliance and risk-monitoring department, which
ensures minimization oI operational risks while protecting the interests oI the investors.
Quite naturally many oI our equity Iunds have delivered consistent returns to investors
and have repeatedly out perIormed benchmark indices by wide margins.
AWARDS AND ACIEVEMENTS
SBI- MUTUAL FUND has been perIorming excellently since its
inception. The Iund has received lot oI appreciation Ior its perIormance Irom the mutual
Iund industry. It has been awarded by ICRA on line award 8 times, CNBC- TV 18 CRISIL
4 AWARDS, the Lipper award (year 0-0) and most recently the CNBC TV 18 Crisil
Mutual Fund Award oI the year 2007 and award Ior the schemes.

1. SBI Magnum Tax gain scheme
S8l Magnum 1ax Caln Scheme was launched by S8l MuLual lund ln Aprll 1993 as a close ended scheme and
was laLer converLed lnLo an openended fund from november 1999 lL ls an LLSS whlch alms Lo provlde
medlum Lo long Lerm growLh Lhrough caplLal appreclaLlon along wlLh 1ax rebaLe
1he prlme ob[ecLlve of scheme ls Lo dellver Lhe beneflL of lnvesLmenL ln a porLfollo of equlLy shares whlle
offerlng Lax rebaLe on such lnvesLmenLs made ln Lhe scheme under secLlon 80 C of Lhe lncomeLax AcL 1961
lL also seeks Lo dlsLrlbuLe lncome perlodlcally dependlng on dlsLrlbuLable surplus
enef|ts
SI Magnum 1axga|n Scheme glves you a double beneflL
lnvesLmenLs ln SI Magnum 1axga|n Scheme are ellglble for Lax beneflLs upLo an amounL of 8s 1 00000
(compared Lo 8s 10000 earller) # As per llnance AcL 2003 and subsequenL noLlflcaLlon daLed nov 11 2003
lssued by C8u1
O ELSS oIIers signiIicant advantages over other tax saving instruments:
Potential Ior higher rate oI return.
ShorLer lockln perlod of 3 years as compared Lo 6 years for nSC and 13 years for l


Investor rof||e
1hls fund ls ldeal for SI Magnum 1axga|n Scheme ls sulLed for paLlenL lnvesLors who have a long Lerm
lnvesLlng horlzon of 33 years and aL Lhe same Llme are looklng aL Lax savlng
A s|mp|e but sens|b|e way to |nvest |n eu|ty |s through the SI Magnum 1axga|n Scheme SI
key eatures
key eatures SI Magnum 1ax Ga|n
1ype Cpenended LqulLy Llnked Savlng Scheme
Investment attern LqulLy LqulLy relaLed lnsLrumenLs uebL 80 Lo 100 Money
MarkeL and Cash 0 Lo 20
Cpt|ons CrowLh ulvldend
App||cat|on Amount 8s 300 and MulLlples of 8s 300
ntry Load lnvesLmenLs below 8s 3 crores 223 lnvesLmenLs of 8s3 crores and
above nlL LnLry load removed wef 1
sL
Aprll 2010
x|t Load nll
SI 8s300/monLh 12 monLhs 8s1000/monLh 6monLhs 8s1300/quarLer
12 monLhs

Scheme Name Sector A||ocat|on
SI Magnum 1ax ga|n scheme
1hls scheme ls more focused Lowards 1echnology
SecLor 8aslc/Lnglneerlng MeLals ln whlch lnvesLed
more Lhan 30 of Lhe LoLal amounL 1he Lop holdlng
ln Lhls scheme are 8ellance CommunlcaLlons
8ellance lndusLrles and !al rakash AssoclaLes whlch
hold more Lhan 12 ln Lhls scheme


MCN1S vALuLS
ANUAk 3833
kUAk 3339
MAk 3386
AkIL 3887
MA 3806
UN 3372
UL 3883
AUGUS1 6032
S1Mk 6112
C1Ck 6633
NCVMk 6642
Mk 6336

Evaluating one year perIormance:
1
st
January 2010 recorded value is 8.3
31
st
December 2010 recorded value is .
Generated returns are 12.3, iI you clearly observe above one year perIormance bench mark is
perIormed well than the Iund.
In my analysis, among the all Iunds this is the Iund given returns less than bench mark in one
year period.
When coming to trailing returns in the period oI three years
Illustration Ior growth Option: Illustration Ior the period oI 3 years.
NAV as on 1
st
September 2007 is 1.81
NAV as on 31
st
August 2010 is 1.12
Returns generated Ior the period is 18.4 (FOR 3 YEARS)
0
30
100
130
200
230
300
VALUS
vALuLS
When we analyzing the Iactor Ior above un satisIied returns, one major reason is market Iall Ior
the year in 2008-2009 and other is last year perIormance not up to the mark. So on total Iund has
given below average returns Ior the given period.


Reliance Mutual Fund (RMF)
Reliance Mutual Fund (RMF) is one oI India`s leading Mutual Funds, with Average Assets
Under Management (AAUM) oI Rs. 1,08,332 CRORES and an investor base oI over 70.87 Lacs.
(AAUM and investor count as on June 30, 2010)

Reliance Mutual Fund, a part oI the Reliance - Anil Dhirubhai Ambani Group, is one oI the
Iastest growing mutual Iunds in the country. RMF oIIers investors a well-rounded portIolio oI
products to meet varying investor requirements and has presence in 118 cities across the country.
Reliance Mutual Fund constantly endeavors to launch innovative products and customer service
initiatives to increase value to investors. "Reliance Mutual Fund schemes are managed by
Reliance Mutual FundLimited., a subsidiary oI Reliance Capital Limited, which holds 93.37 oI
the paid-up capital oI RCAM, the balance paid up capital being held by minority shareholders."

Reliance Capital Ltd. is one oI India`s leading and Iastest growing private sector Iinancial
services companies, and ranks among the top 3 private sector Iinancial services and banking
companies, in terms oI net worth. Reliance Capital Ltd. has interests in asset management, liIe
and general insurance, private equity and proprietary investments, and other Iinancial services.

VISION OF TE COMPANY:
To be a globally respected wealth creator with an emphasis on customer care and a culture oI
good corporate governance.
MISSION OF TE COMPANY
To create and nurture a world-class, high perIormance environment aimed at delighting our
customers.


ISTORY
Reliance Mutual FundLimited (RCAM), a company registered under the Companies Act, 19
was appointed to act as the Investment Manager oI Reliance Mutual Fund.

Reliance Mutual FundLimited (RCAM) was approved as the Asset Management Company Ior
the Mutual Fund by SEBI vide their letter no IIMARP/124/9 dated June 30, 199. The Mutual
Fund has entered into an Investment Management Agreement (IMA) with RCAM dated May 12,
199 and was amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 199.
Pursuant to this IMA, RCAM is authorized to act as Investment Manager oI Reliance Mutual
Fund. The networth oI the Asset Management Company including preIerence shares as on
September 30, 2007 is Rs.12.02 crores. Reliance Mutual Fund has launched thirty-Iive Schemes
till date, namely :

"Reliance Mutual Fund schemes are managed by Reliance Mutual FundLimited., a subsidiary oI
Reliance Capital Limited, which holds 93.37 oI the paid-up capital oI RCAM, the balance paid
up capital being held by minority shareholders."

Reliance Mutual FundLimited (RCAM) was approved as the Asset Management Company Ior
the Mutual Fund by SEBI vide their letter no IIMARP/124/9 dated June 30, 199. The Mutual
Fund has entered into an Investment Management Agreement (IMA) with RCAM dated May 12,
199 and was amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 199.
Pursuant to this IMA, RCAM is authorised to act as Investment Manager oI Reliance Mutual
Fund. The networth oI the Asset Management Company as on March 31, 2008 is Rs 709.39
crores.

YEAR WISE MILESTONES OF RELIANCE MUTUAL FUND
Reliance Growth Fund (September 199)
Reliance Income Fund (December 1997)
Reliance Medium Term Fund (August 2000)
Reliance DiversiIied Power Sector Fund (March 2004)
Reliance Index Fund (February 200)
Reliance Tax Saver (ELSS) Fund (July 200)
Reliance Equity Linked Saving Fund - Series I (December 2007)
Reliance InIrastructure Fund (May 2009)

RELIANCE MUTUAL FUND COMPETITIVE ADVANTAGES
Reliance Mutual Fund At a Glance
O Reliance Mutual Fund (RMF) is one oI India`s leading Mutual Funds, with Assets Under
Management (AUM) oI Rs. 1,08,332 crore (AUM as on 30th June 2009) and an investor
base oI over 70.87 Lacs.
O Investor base oI over 3.38 million as on March 31, 2007
O Rapid growth in Assets Under Management (AUM), 87.7 growth in AUM year on
year. AUM oI over Rs.4,30 crore ($10.2 billion) as on March 30, 2007 Irom Rs.
24,9 crore ($.3 billion) as on March 31, 200.
O Accelerated growth in investor base .89 growth in investor base year on year. Over
3.38 million investors as on March 31, 2007 Irom over 2.02 million investors as on
March 31, 200.
O Reliance Mutual Fund has over 10 years oI extensive market experience, over 2
schemes combined with a strong perIormance track record.
O Reliance Equity Fund NFO (th Feb -7th March 200), the largest ever collection oI
Rs.,79 crore ($1.29 billion) in the history oI the Indian Mutual Fund industry.
O Footprint in over 100 cities in India
O Wide network oI 130 collection points
O Wide portIolio oI 2 well-rounded products to meet varying investor requirements.
O Reliance Mutual Fund is amongst the Iew mutual Iunds in the industry to oIIer
Subscription, Redemption and Switch through Online Transactions.
O Lipper Fund Award India 2007 :
4 Reliance Gilt Securities Fund-Long Term Plan-Growth was declared the best Iund
over 3 years in the Bond INR Government category, out oI 2 eligible schemes.
4 Reliance Growth Fund-Growth Plan was declared the best Iund over years in
the Equity India category, out oI 81 eligible schemes.
O Lipper Fund Award GulI 2007 :
4 Reliance Banking Fund-Growth Plan-Growth Option was declared the best Iund
over 3 years in Equity Sector Banks and Other Financials
4 Reliance Growth Fund-Growth Plan was declared the best Iund over 3 years in
the Equity India category
4 Reliance Growth Fund-Growth Plan was declared the best Iund over years in
the Equity India category
4 Reliance Income Fund-Growth Plan-Growth Option was declared the best Iund
over years in Bond Indian Rupee General category
4 Reliance Gilt Securities Fund-Long Term Plan-Growth was declared the best Iund
over 3 years in the Bond INR Government category
4 Reliance Short Term Fund-Growth Plan was declared the best Iund over 3 years
in Bond Indian Rupee

O CNBC TV18 - CRISIL Mutual Fund oI the Year Awards 200 :
4 Reliance Gilt Securities Fund - Long Term Plan was awarded CNBC TV18 -
CRISIL Mutual Fund oI the Year Awards 200, in the Open End Long Term Gilt
Category
4 Reliance Short Term Fund was awarded CNBC TV18 - CRISIL Mutual Fund oI
the Year Awards 200, in the Open End Debt Short Term Category

O ICRA Mutual Funds Awards 2007 :
4 Reliance Short Term Fund has been ranked ICRA MFR 1 by ICRA Mutual Funds
Awards 2007 in the category Open Ended Debt Short Term Ior its 1 year
perIormance till December 31, 200. The rank indicates perIormance within the
top 10 oI the stated category.
4 Reliance Gilt Securities Fund - Long Term Retail Plan has been ranked ICRA
MFR 1 by ICRA Mutual Funds Awards 2007 in the category Open Ended Gilt -
Long Term Ior its 3 year perIormance till December 31, 200. The rank indicates
perIormance within the top 10 oI the stated category.
4 Reliance Liquidity Fund has been ranked ICRA MFR 1 by ICRA Mutual Funds
Awards 2007 in the category Open Ended Liquid Scheme Ior its 1 year
perIormance till December 31, 200. The rank indicates perIormance within the
top 10 oI the stated category.
O The Iirst mutual Iund in India to oIIer instant cash withdrawal Iacility on investments.
Reliance Mutual Fund oIIers the Reliance Any Time Money (ATM) Card with select
schemes. The card is a boon Ior retail investors as it enables them to withdraw their
investment any time, anywhere at over 1 million VISA-enabled ATMs across the world.
O Reliance Mutual Fund is amongst the Iew mutual Iunds with a 24X7 Call Centre Iacility
ke||ance 1ax saver g|ves doub|e benef|t
O Investments in Reliance Tax saver are eligible Ior tax beneIits, up to an amount oI Rs. 1,
00,000 (compared to Rs. 10,000 earlier). # As per Finance Act 200 and subsequent notiIication
dated Nov 11, 200 issued by CBDT.
O ELSS oIIers signiIicant advantages over other tax saving instruments:
Potential Ior higher rate oI return
Shorter lock-in period oI 3 years as compared to years Ior NSC, and 1 years Ior PPF
Investor rof||e
1hls fund ls ldeal for
ke||ance 1ax saver ls sulLed for paLlenL lnvesLors who have a long Lerm lnvesLlng horlzon of 33 years and aL
Lhe same Llme are looklng aL Lax savlng
A s|mp|e but sens|b|e way to |nvest |n eu|ty |s through the ke||ance 1ax Saver SI


key eatures
key eatures ke||ance 1ax saver
1ype Cpenended LqulLy Llnked Savlng Scheme
Investment attern LqulLy LqulLy relaLed lnsLrumenLs uebL 80 Lo 100 Money
MarkeL and Cash 0 Lo 20
Cpt|ons CrowLh ulvldend
App||cat|on Amount 8s 300 and MulLlples of 8s 300
ntry Load lnvesLmenLs below 8s 3 crores 223 lnvesLmenLs of 8s3 crores and
above nlL
LnLry load removed wef 1
sL
Aprll 2010
x|t Load nll
SI 8s300/monLh 12 monLhs 8s1000/monLh 6monLhs 8s1300/quarLer
12 monLhs







PortIolio allocation oI the Iund
ke||ance 1ax Saver
1hls scheme ls more concenLraLed Lowards llnanclal
Lnergy and 1echnology secLors whlch hold more
Lhan 30 of Lhe LoLal markeLcap 1op holdlng ln Lhls
scheme ls llCl lu8l and 8ellance lndusLrles whlch
holds more Lhan 20 ln Lhe scheme


PerIormance oI the Iund Ior one year when comparing to bench mark on monthly basis:
RELIANCE

MONTHS VALUES
JANUARY 18.34
FEBRUARY 17.888
MARCH 17.893
APRIL 18.8923
MAY 19.3311
JUNE 18.99
JULY 19.7201
AUGUST 20.
SEPTEMBER 21.
OCTOBER 23.8
NOVEMBER 23.448
DECEMBER 22.42



0
3
0
1
0
0
1
3
0
2
0
0
2
3
0
3
0
0
1!an
1leb
1Mar
1Apr
1May
1!un
1!ul
1Aug
1Sep
1CcL
1nov
1uec
V
A
L
U

S
v
A
L
u
L
S

PerIormance evaluation oI Reliance Tax saver
1. One year returns evaluation
As on 1
st
January 2010 NAV IS 18.34
As on 31
st
December 2010 Nav is 22.29
Returns Ior one year is 21. approx.

2. Evaluating 3 years returns.
As on 1
st
September 2007 NAV is 1.17
As on 30
th
August 2010 NAV is 21.72
Absolute returns are 34 approx.