31st May, 2015...31st May, 2015 BARODA PIONEER MUTUAL FUND Dear Investors, Warm Greetings! Post a...

31st May, 2015

BARODA PIONEER MUTUAL FUND

Dear Investors,

Warm Greetings!

Post a sharp four percent fall in the month of April,2015 equity markets recovered during the month of May,2015 registering gains of 3% . Year to date markets are up one percent versus a negative two percent end of April 2015. FIIs were net sellers for the month, with outflows of USD660mn. MAT on FIIs, weaker monsoon, and improving IIP and inflation data were key dominating issues during the month.

Consumer Price Index (CPI)-based inflation for April,2015 eased to 4.86 per cent, the lowest in four months, on the back of another month of declining food prices. This compares with 5.25 percent reported for the month of March 2015. The deceleration in retail inflation is entirely attributable to a 100bp mom (Month on Month) decline in food inflation to 5.1%. Core retail inflation (excluding food) increased by 10bp mom (Month on Month) to 4%.

Industrial output in India increased by 2.1% yoy (Year on Year) in March 2015, due to a negative surprise by consumer non-durables goods. While capital goods output maintained its momentum with an increase of 7.6%, mining and consumer non-durables reported much weaker growth of 0.9% and 1.9% respectively. Electricity output increased by just 2%. Consumer durables continued to contract, declining by 4.7% after a 3.4% fall in the preceding month. For FY15, industrial output has increased by 2.8% compared with a decline of 0.1% in FY14. Notably, industrial activity in Q4FY15 has now increased by 3.2%, compared with a sub-2 % increase in the preceding two quarters.

The Budget session ended on May 13, 2015 The NDA managed to pass 24 legislations in the session, including allowing 49 percent FDI in the insurance and coal sectors. However two key bills were not passed. The land acquisition bill has been referred to joint parliamentary committee and the GST bill to a select committee of the Rajya Sabha

Market is expecting a rate cut in this policy. Market participants believe the rate cut will happen this time as the inflation is contained below RBI’s projection and the growth is still weak and recovering slowly. However, the concern on weak monsoon remains but the food inflation should be contained with active food grain supply management by the government. RBI should also draw comforts as some of banks have started reducing the base rate, which should lead to effective monetary transmission. On the global front, also, the growth is weak and some of emerging markets are resorting to monetary easing to stimulate growth.

Rates may soften due to dovish stance by RBI, stable government, weak global growth, lower fiscal, current account deficit, and easing inflation. Lower CPI print, Dovish stance by RBI and Fiscal consolidation measures are likely to be the key triggers for the rally. The key risks are slippages in fiscal deficit, higher supply of government securities, spike in crude and commodity prices, and hike in interest rate by US.

During the month, global investors were net sellers to the tune of USD660mn. Year to date global investors have invested USD6.5bn. This compares with USD 7.9bn invested during the same period last year. With expectations of improving growth and the economy likely to benefit from falling crude prices, India should continue to attract global investors.

Equity markets is likely to see pick up in investment cycle and improvement in earnings of corporate India. Capital spending by public sector is likely to be keenly followed. Until then, we take comfort in valuations, which are in line with the long term averages.

Happy Investing!

Sanjay Chawla

Chief Investment OfficerSources : www.economictimes.com , Bloomberg

CIO Letter

2

Mr. Sanjay ChawlaChief Investment Officer

31st May, 2015


INDEX

Title

Baroda Pioneer Growth Fund Pg 4

Baroda Pioneer ELSS’ 96 Pg 4

Baroda Pioneer PSU Equity Fund Pg 6

Baroda Pioneer Infrastructure Fund Pg 7

Baroda Pioneer Banking and Financial Services Fund Pg 8

Baroda Pioneer Equity Trigger Fund - Series I Pg 9

Baroda Pioneer Balance Fund Pg 10

Baroda Pioneer Monthly Income Plan (MIP) Fund Pg 11

Baroda Pioneer Credit Opportunities Fund Pg 12

Baroda Pioneer Gilt Fund Pg 13

Baroda Pioneer Income Fund Pg 14

Baroda Pioneer Dynamic Bond Fund Pg 15

Baroda Pioneer Short Term Bond Fund Pg 16

Baroda Pioneer Public Sector Undertaking (PSU) Bond Fund Pg 17

Baroda Pioneer Treasury Advantage Fund Pg 18

Baroda Pioneer Liquid Fund Pg 19

Investment Performance Pg 20

3

31st May, 2015


Baroda Pioneer Growth Fund

PORTFOLIO

Name of Instruments Ratings / Industry

% to Net Assets

EQUITY & EQUITY RELATED

Listed / awaiting listing on the stock exchanges

HDFC Bank Limited Banks 6.34%

Yes Bank Limited Banks 3.94%

IndusInd Bank Limited Banks 3.71%

Infosys Limited Software 3.62%

Axis Bank Limited Banks 3.40%

Tech Mahindra Limited Software 3.27%

Tata Consultancy Services Limited

Software 3.27%

Divi's Laboratories Limited Pharmaceuticals 3.25%

Amara Raja Batteries Limited Auto Ancillaries 2.97%

Larsen & Toubro Limited Construction Project

2.96%

Sun Pharmaceuticals Industries Limited

Pharmaceuticals 2.81%

Maruti Suzuki India Limited Auto 2.71%

ICICI Bank Limited Banks 2.62%

Alstom T&D India Limited Industrial Capital Goods

2.56%

Bosch Limited Auto Ancillaries 2.41%

Tata Motors Limited Auto 2.37%

LIC Housing Finance Limited Finance 2.15%

Bharat Petroleum Corporation Limited

Petroleum Products

2.09%

IDFC Limited Finance 2.07%

State Bank of India Banks 1.99%

Motherson Sumi Systems Limited

Auto Ancillaries 1.96%

HCL Technologies Limited Software 1.81%

Cadila Healthcare Limited Pharmaceuticals 1.77%

Britannia Industries Limited Consumer Non Durables

1.69%

Housing Development Finance Corporation Limited

Finance 1.66%

Colgate Palmolive (India) Limited

Consumer Non Durables

1.58%

Berger Paints (I) Limited Consumer Non Durables

1.57%

Kotak Mahindra Bank Limited

Banks 1.56%

Bharti Airtel Limited Telecom - Services

1.52%

Zee Entertainment Enterprises Limited

Media & Entertainment

1.45%

Cummins India Limited Industrial Products

1.44%

TD Power Systems Limited Industrial Capital Goods

1.41%

GlaxoSmithKline Consumer Healthcare Limited


1.38%

Reliance Industries Limited Petroleum Products

1.37%

D.B.Corp Limited Media & Entertainment

1.29%

Wipro Limited Software 1.26%

Oil & Natural Gas Corporation Limited

Oil 1.25%

Multi Commodity Exchange of India Limited

Finance 1.23%

Eicher Motors Limited Auto 1.14%

PORTFOLIO


% to Net Assets

Bajaj Finance Limited Finance 1.13%

Pidilite Industries Limited Chemicals 1.11%

Shriram Transport Finance Company Limited

Finance 1.10%

IRB Infrastructure Developers Limited

Construction 1.10%

UltraTech Cement Limited Cement 1.06%

Dabur India Limited Consumer Non Durables

1.03%

Carborundum Universal Limited

Industrial Products

0.94%

Castrol India Limited Petroleum Products

0.87%

The Ramco Cements Limited Cement 0.46%

Cipla Limited Pharmaceuticals 0.44%

Total 98.09%

PREFERENCE SHARES


Zee Entertainment Enterprises Limited - Preference shares


0.08%

Total 0.08%

MONEY MARKET INSTRUMENT

Certificate of Deposit**

Syndicate Bank CRISIL A1+ 0.89%

Total 0.89%

CBLO / Reverse Repo Investments 0.80%

Total 0.80%

Cash & Cash Equivalents

Net Receivable/Payable 0.14%

Total 0.14%

Grand Total 100.00%

All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.

TOP SECTORS

23.56%13.23%

9.34%8.27%

7.34%7.25%

6.22%4.33%3.97%

2.96%2.82%2.38%

1.52%1.52%1.25%1.11%1.10%0.94%0.89%

BanksSoftware

FinancePharmaceuticalsAuto Ancillaries

Consumer Non DurablesAuto

Petroleum ProductsIndustrial Capital Goods

Construction ProjectMedia & Entertainment

Industrial ProductsTelecom - Services

CementOil

ChemicalsConstruction

Cash & EquivalentCRISIL A1+

Investors understand that their principal will be at Moderately High risk

This product is suitable for investors who are seeking*• Capital appreciation over long term• Investment predominantly in equity and equity related

instruments.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

INVESTMENT OBJECTIVE

To generate long term Capital appreciation from an actively managed portfolio of equity & equity related instruments.

FUND DETAILS

Nature of Scheme An Open Ended Growth Scheme

Date of Allotment September 12, 2003

Fund Manager Mr. Dipak Acharya#

Benchmark CNX 100*

Average AUM (`) 239.52 Crs (Jan- Mar 2015)

Minimum In vestment ` 5,000/- & in multiples of ` 1/- thereafter

Entry Load Nil

Exit Load 1% if redeemed on or before 365 days from the date ofallotment, Nil if redeemed after 365 days from the dateof allotment of units

Plans

Option

Plan A and Plan B (Direct)

The Scheme(s) offer:A. Growth Option (default option in case no option specified by investor);B. Dividend Option C. Bonus Option$

SIP (Minimum) ` 1000/month - 6 Installments,` 1500/quarter - 4 Installments,

RISK PROFILE 31 MAY 2015

Standard deviation 15.41Sharpe 0.95Beta 1.01Portfolio Turnover (last 12 months) 1.17

NAV AS ON 31 MAY 2015

NAV `Plan AGrowth 78.8300Dividend 38.8100Plan B - DirectGrowth 80.7200Dividend 37.9200

** Thinly traded /Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.$ Bonus option is discontinued from 8th June ,2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*For Disclaimer please refer page no 23

An Open Ended Growth Scheme

4

31st May, 2015


PORTFOLIO


% to Net Assets






Karur Vysya Bank Limited Banks 3.30%




Oberoi Realty Limited Construction 2.91%


Finance 2.86%



2.52%


Hindustan Petroleum Corporation Limited

Petroleum Products

2.40%



2.36%

Maruti Suzuki India Limited

Auto 2.34%


2.26%

Cummins India Limited Industrial Products 2.18%

Sundram FastenersLimited


Sun Pharmaceuticals Industries Limited



Finance 2.05%

WABCO India Limited Auto Ancillaries 2.03%

LIC Housing Finance Limited

Finance 1.99%


FAG Bearings IndiaLimited

Industrial Products 1.95%



1.92%

Idea Cellular Limited Telecom - Services 1.85%

Motherson Sumi Systems Limited



Gujarat Gas Limited Gas 1.76%


TD Power SystemsLimited

Industrial Capital Goods

1.64%

Astra MicrowaveProducts Limited

Telecom - Equipment & Accessories

1.58%

Sintex Industries Limited Industrial Products 1.57%

Tata Chemicals Limited Chemicals 1.54%

Britannia Industries Limited


1.51%


Construction 1.46%


PORTFOLIO


% to Net Assets

Alstom India Limited Industrial Capital Goods

1.18%

Dr. Reddy's Laboratories Limited


Container Corporation of India Limited

Transportation 1.08%

Reliance IndustriesLimited

Petroleum Products

1.04%

Gujarat State Petronet Limited

Gas 1.03%



PNC Infratech Limited Construction 0.58%

V-Guard Industries Limited Industrial Capital Goods

0.57%

Persistent Systems Limited Software 0.37%

Total 95.67%

PREFERENCE SHARES


Zee Entertainment Enterprises Limited - Preference shares


0.02%

Total 0.02%


Total 1.82%



Total 2.49%

Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.

TOP SECTORS

22.59%9.47%

8.76%6.00%5.70%5.65%5.32%4.95%4.94%

4.31%4.03%

3.44%3.24%2.79%2.36%1.94%1.85%1.58%1.08%

BanksFinance

SoftwareAuto Ancillaries

Industrial ProductsIndustrial Capital Goods

AutoConstruction

PharmaceuticalsCash & Equivalent

Consumer Non DurablesPetroleum Products

ChemicalsGas

Construction ProjectMedia & Entertainment

Telecom - Services

Telecom - Equipment &Transportation

Accessories

Baroda Pioneer ELSS’ 96


This product is suitable for investors who are seeking*• Capital growth over long term• Investment predominantly in equity and equity related

instruments.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The main objective of the scheme is to provide the investor long term capital growth as also tax benefit under section 80C of the Income Tax Act, 1961.

FUND DETAILS

Nature of Scheme An Open Ended Tax Benefit-Cum-Growth Scheme

Date of Allotment March 31, 1996


Benchmark S&P BSE SENSEX


Minimum Investment ` 500/- & in multiples of ` 1/- thereafter

Entry Load Nil

Exit Load Nil

Plans

Option


The Scheme(s) offer:A. Growth Option (default option in case no option specified by investor);B. Dividend Option C. Bonus Option$

SIP (Minimum) ` 1000/month - 6 Installments` 1500/quarter - 4 Installments




NAV `Plan ADividend 31.4100Bonus 36.5600Growth 36.5600Plan B - DirectDividend 31.4100Bonus 37.8800Growth 37.8800

$ Bonus option is discontinued from 8th June ,2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

An Open Ended Tax Benefit - Cum - Growth Scheme

5

31st May, 2015


Baroda Pioneer PSU Equity Fund

Investors understand that their principal will be at High risk

This product is suitable for investors who are seeking*• Growth in capital along with the liquidity over long

term• Investment predominantly in equity stocks of domestic

Public Sector Undertakings.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The primary investment objective of the Scheme is to provide investors wit opportunities for long term growth in capital along with the liquidity of an open ended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings.

FUND DETAILS

Nature of Scheme An Open Ended Equity Scheme

Date of Allotment December 4, 2010


Benchmark S&P BSE PSU Index


Minimum Investment ` 5,000/- & in multiples of ` 1/- thereafter

Entry Load Nil

Exit Load 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units

Plans

Option


The Scheme(s) offer:A. Growth Option (default option in case no option specified by investor);B. Dividend Option 1. Payout;2. Reinvestment (default sub-option in case no option specified by investor)C. Bonus Option$






PORTFOLIO


% to Net

Assets




Coal India Limited Minerals/Mining

10.91%

Oil & Natural Gas Corporation Limited

Oil 8.95%

Power Grid Corporation of India Limited

Power 6.03%

Indian Oil Corporation Limited Petroleum Products

5.27%

NTPC Limited Power 5.22%

Bharat Petroleum Corporation Limited

Petroleum Products

4.93%

Hindustan Petroleum Corporation Limited

Petroleum Products

4.75%

Bharat Electronics Limited Industrial Capital Goods

4.42%

Bharat Heavy Electricals Limited Industrial Capital Goods

4.04%

Rural Electrification Corporation Limited

Finance 4.02%

BEML Limited Industrial Capital Goods

3.84%

Gujarat State Petronet Limited Gas 3.57%

Mangalore Refinery and Petrochemicals Limited

Petroleum Products

2.87%

Engineers India Limited Construction Project

2.86%

Gujarat Gas Limited @ Gas 2.75%

Gujarat Mineral Development Corporation Limited

Minerals/Mining

2.45%

Oil India Limited Oil 2.29%

Bank of Baroda Banks 2.21%

MOIL Limited Minerals/Mining

1.50%

National Aluminium Company Limited

Non - Ferrous Metals

1.20%

NMDC Limited Minerals/Mining

0.96%

Total 97.05%

BONDS & NCDs


NTPC Limited CRISIL AAA 0.31%

Total 0.31%


Total 0.98%



Total 1.66%


TOP SECTORS

17.82%

15.82%

14.22%

12.30%

11.25%

11.24%

6.32%

4.02%

2.86%

2.64%

1.20%

0.31%

Petroleum Products

Minerals/Mining

Banks


Power

Oil

Gas

Finance

Construction Project

Cash & Equivalent

Non - Ferrous Metals

CRISIL AAA

An Open Ended Equity Scheme


6

31st May, 2015


Baroda Pioneer Infrastructure Fund

Investors understand that their principal will be atHigh risk

This product is suitable for investors who are seeking*• Capital appreciation over long term• Investment predominantly in equity and equity-related

securities of companies engaged in infrastructure and infrastructure related sectors.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The primary investment objective of the Scheme will be to generate long-term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in infrastructure and infrastructure related sectors.

FUND DETAILS

Nature of Scheme An Open Ended Equity Scheme

Date of Allotment June 22, 2010


Benchmark CNX Infra*



Entry Load Nil

Exit Load 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment of units

Plans

Option



SIP (Minimum) ` 1000/month - 6 Installments` 1500/quarter - 4 Installments





PORTFOLIO


% to Net Assets



Bharti Airtel Limited Telecom - Services 6.38%


4.58%




Power 3.81%

NTPC Limited Power 3.78%

Bharat Heavy Electricals Limited


3.48%

Cummins India Limited Industrial Products 3.39%

Jk Lakshmi Cement Limited Cement 3.15%

Simplex Infrastructures Limited

Construction 3.12%

Adani Ports and Special Economic Zone Limited


IRB InfrastructureDevelopers Limited

Construction 2.95%


Astral Poly Technik Limited Industrial Products 2.67%

NCC Limited Construction Project

2.66%

Gujarat State Petronet Limited

Gas 2.50%

Gateway DistriparksLimited



2.39%

Max India Limited Finance 2.17%



Ingersoll Rand (India)Limited


Astra Microwave Products Limited


2.05%

Sintex Industries Limited Industrial Products 2.04%

LIC Housing FinanceLimited

Finance 1.93%

PTC India Limited Power 1.91%


1.83%


1.65%

Solar Industries IndiaLimited

Chemicals 1.60%


Gujarat Pipavav PortLimited


Texmaco Rail & Engineering Limited


1.48%

Ambuja Cements Limited Cement 1.43%

Honeywell AutomationIndia Limited


1.38%

FAG Bearings India Limited Industrial Products 1.38%

SKS Microfinance Limited Finance 1.28%


1.14%

PORTFOLIO


% to Net Assets


The Ramco CementsLimited

Cement 1.12%

Century Textiles &Industries Limited

Cement 1.09%

Kalpataru Power Transmission Limited

Power 1.05%

Bharat Forge Limited Industrial Products 0.85%

Carborundum Universal Limited


Mangalore Refinery and Petrochemicals Limited

Petroleum Products

0.65%

Total 98.40%

BONDS & NCDs


NTPC Limited CRISIL AAA 0.26%

Total 0.26%


Total 1.77%


Net Receivable/Payable -0.43%

Total -0.43%


TOP SECTORS

13.35%

13.16%

11.00%

10.55%

10.38%

10.02%

9.11%

7.24%

6.79%

2.50%

2.05%

1.60%

1.34%

0.65%

0.26%


Industrial Products

Finance

Power

Telecom - Services

Construction

Transportation


Cement

Gas

Telecom - Equipment &

Chemicals

Cash & Equivalent

Petroleum Products

CRISIL AAA

Accessories

An Open Ended Equity Scheme

$ Bonus option is discontinued from 8th June ,2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*For Disclaimer please refer page no 23

7

31st May, 2015


Baroda Pioneer Banking and Financial Services Fund

Investors understand that their principal will be atHigh risk

This product is suitable for investors who are seeking*• Capital appreciation over long term• Investment predominantly in equity and equity related

securities of companies engaged in the Banking & Financial Services Sector* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The investment objective is to generate long-term capital appreciation for unit holders from a portfolio invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector.

FUND DETAILS

Nature of Scheme An Open Ended Sectoral Scheme



Benchmark CNX Bank Index*



Entry Load Nil

Exit Load Exit Load - 1.00% if redeemed on or before 365 days from the date of allotment of units, Nil if redeemed after 365 days from the date of allotment

Plans

Option



SIP (Minimum) ` 1000/month - 6 Installments` 1500/quarter - 4 Installments,


Standard deviation -Sharpe -Beta 0.97Portfolio Turnover (last 12 months) 1.72


NAV `Plan AGrowth 16.2500Dividend 15.1200Bonus 16.2500Plan B - DirectGrowth 16.5800Dividend 15.4300

PORTFOLIO


% to Net Assets









Kotak Mahindra BankLimited

Banks 6.31%



Sundaram Finance Limited Finance 1.73%



Credit Analysis And Research Limited

Finance 1.16%

Bank of Baroda Banks 1.07%


Finance 1.03%

Total 99.24%


Total 0.90%



Total -0.14%


TOP SECTORS

90.32%

8.92%

0.76%

Banks

Finance

Cash & Equivalent

An Open Ended Sectoral Scheme

$ Bonus option is discontinued from 8th June ,2015# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22*For Disclaimer please refer page no 23

8

31st May, 2015


Baroda Pioneer Equity Trigger Fund - Series I

Investors understand that their principal will be at High risk

This product is suitable for investors who are seeking*• Capital appreciation during the tenure of the scheme.• Investment predominantly in equity and equity related

securities of mid and small cap companies.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The investment objective of the Scheme is to provide capital appreciation by investing in a well-diversified portfolio of equity and equity related securities predominantly of mid-cap and small cap companies. However, there is no assurance or guarantee that the investment objective of the Scheme will be realized.

FUND DETAILS

Nature of Scheme A Close Ended Equity Scheme


Fund Manager Mr. Dipak Acharya

Benchmark S&P BSE Mid-cap index



Entry Load NA

Exit Load NA. No redemption/repurchase of Units shall be allowed prior to the maturity of the Scheme. Unit Holders wishing to exit may do so through the Stock Exchange mode.

Plans Plan A and Plan B (Direct)

Options • Growth• Dividend Payout

SIP (Minimum) NA


Standard deviation NASharpe NABeta NAPortfolio Turnover (last 12 months) 0.78



PORTFOLIO


% to Net

Assets


Listed / awaiting listing on the stock exchangesMulti Commodity Exchange ofIndia Limited

Finance 3.46%


Sun Pharmaceuticals Industries Limited Pharmaceuticals 2.90%


Alembic Pharmaceuticals Limited Pharmaceuticals 2.62%

Gateway Distriparks Limited Transportation 2.49%Solar Industries India Limited Chemicals 2.46%Oberoi Realty Limited Construction 2.42%Sundram Fasteners Limited Auto Ancillaries2.35%WABCO India Limited Auto Ancillaries2.34%Bayer Cropscience Limited Pesticides 2.28%Sintex Industries Limited Industrial

Products2.27%

The Karnataka Bank Limited Banks 2.23%Sanofi India Limited Pharmaceuticals 2.20%

Bajaj Corp Limited Consumer Non Durables

2.19%


PTC India Limited Power 2.18%Jk Lakshmi Cement Limited Cement 2.16%Jyothy Laboratories Limited Consumer Non

Durables2.14%

Gujarat Gas Limited Gas 2.05%SKS Microfinance Limited Finance 2.01%

City Union Bank Limited Banks 1.95%FAG Bearings India Limited Industrial

Products1.94%

Sundaram Finance Limited Finance 1.94%

Torrent Pharmaceuticals Limited Pharmaceuticals 1.90%

Persistent Systems Limited Software 1.86%Shemaroo Entertainment Limited Media &

Entertainment1.70%


1.70%

Ashok Leyland Limited Auto 1.69%


1.68%


JK Cement Limited Cement 1.62%Britannia Industries Limited Consumer Non

Durables1.61%

Astra Microwave Products Limited Telecom - Equipment & Accessories

1.58%



1.53%


1.51%

Simplex Infrastructures Limited Construction 1.48%Astral Poly Technik Limited Industrial

Products1.46%


Can Fin Homes Limited Finance 1.30%

NCC Limited Construction Project

1.30%

IRB Infrastructure Developers Limited Construction 1.29%

Akzo Nobel India Limited Consumer Non Durables

1.19%

Alstom India Limited Industrial Capital Goods

1.16%

PORTFOLIO


% to Net

AssetsD.B.Corp Limited Media &

Entertainment1.14%


Jagran Prakashan Limited Media & Entertainment

1.11%


Essel Propack Limited Industrial Products

1.03%

Cera Sanitaryware Limited Construction 0.74%

PI Industries Limited Pesticides 0.70%Havells India Limited Consumer

Durables0.65%

MT Educare Limited Diversified Consumer Services

0.58%


Carborundum Universal Limited Industrial Products

0.51%


0.42%


0.11%

Total 97.32%


Total 3.99%



Total -1.31%

Grand Total 100.00%

TOP SECTORS

12.55%10.34%

9.62%8.64%

7.21%6.51%

6.07%5.48%

5.07%4.69%

3.78%2.98%2.68%2.49%2.18%2.05%1.86%1.69%1.58%1.30%

0.65%0.58%

FinanceBanks

PharmaceuticalsConsumer Non Durables

Industrial ProductsConstruction

ChemicalsMedia & EntertainmentIndustrial Capital Goods

Auto AncillariesCement

PesticidesCash & Equivalent

TransportationPower

GasSoftware

Auto

Telecom - Equipment &Construction ProjectConsumer Durables

Diversified Consumer

Accessories

Services

A Close Ended Equity Scheme

9

31st May, 2015


Baroda Pioneer Balance Fund


This product is suitable for investors who are seeking*• Capital appreciation along with stability over long term• Investment predominantly in equity and equity related

instruments with balance exposure to money market instruments and debt securities.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The scheme is targeted for long-term capital appreciation along with stability through a well balanced portfolio comprising of equity,equity related instruments, money market instrument and debt securities.

FUND DETAILS

Nature of Scheme An Open Ended Balanced Scheme



Benchmark CRISIL Balance Fund Index



Entry Load Nil

Exit Load 1% if redeemed on or before 365 days from the date ofallotment, Nil if redeemed after 365 days from the dateof allotment of units

Plans

Option



SIP (Minimum) ` 1000/month - 6 months,` 1500/quarter - 4 quarters




NAV `Plan AGrowth 43.2200Dividend 25.7000Bonus 43.2200Plan B - DirectGrowth 44.2200Dividend 26.4400


PORTFOLIO


% to Net







Torrent Pharmaceuticals Limited Pharmaceuticals 2.60%Multi Commodity Exchange of India Limited

Finance 2.52%






Dabur India LimitedConsumer Non Durables

1.94%

Tata Consultancy Services Limited

Software 1.87%




Maruti Suzuki India Limited Auto 1.63%


Pidilite Industries Limited Chemicals 1.59%Sun Pharmaceuticals Industries Limited


Whirlpool of India LimitedConsumer Durables

1.52%


Jk Lakshmi Cement Limited Cement 1.47%

Ashok Leyland Limited Auto 1.44%

Bosch Limited Auto Ancillaries 1.36%

Bajaj Corp LimitedConsumer Non Durables

1.33%



Bayer Cropscience Limited Pesticides 1.30%

Sundram Fasteners Limited Auto Ancillaries 1.28%

Solar Industries India Limited Chemicals 1.24%

Larsen & Toubro LimitedConstruction Project

1.19%

TD Power Systems LimitedIndustrial Capital Goods

1.13%

Colgate Palmolive (India)Limited


1.11%


Construction 1.10%

D.B.Corp LimitedMedia & Entertainment

1.07%

Berger Paints (I) LimitedConsumer Non Durables

1.07%

Alstom T&D India LimitedIndustrial Capital Goods

1.05%



1.05%



1.04%

Sintex Industries LimitedIndustrial Products

0.95%





PORTFOLIO


% to Net


Gateway Distriparks Limited Transportation 0.45%

Total 72.62%




Total 0.72%

CENTRAL GOVERNMENT SECURITIES

8.24% CGL 2027 SOV 1.90%

8.60% CGL 2028 SOV 0.15%

8.28% CGL 2027 SOV 0.15%

Total 2.20%

BONDS & NCDs


IDFC Limited CRISIL AAA 7.15%

Nabha Power Limited CRISIL AAA 3.91%

Vedanta Limited CRISIL AA+ 1.44%

India Infoline Housing Finance Limited

CRISIL AA- 1.35%


CRISIL AA 0.88%

Power Finance Corporation Limited

CRISIL AAA 0.73%



CRISIL AAA 0.72%

JSW Steel Limited CARE AA 0.43%

Power Grid Corporation ofIndia Limited

CRISIL AAA 0.18%

Total 17.52%


Total 4.05%

Cash & Cash EquivalentsNet Receivable/Payable 2.89%Total 2.89%Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

TOP SECTORS

18.25%13.42%

7.81%7.62%

6.94%5.75%5.45%

3.76%3.54%3.52%

2.64%2.20%2.18%2.12%1.76%1.52%1.47%1.44%1.35%1.30%1.19%1.04%0.95%0.88%0.75%0.72%0.43%

BanksCRISIL AAA

SoftwareFinance

Cash & EquivalentPharmaceuticals

Consumer Non DurablesChemicals

AutoConstruction

Auto AncillariesSOV

Industrial Capital GoodsMedia & Entertainment

TransportationConsumer Durables

CementCRISIL AA+CRISIL AA-Pesticides


Telecom - Equipment &Industrial Products

CRISIL AATelecom - Services

CRISIL A1+CARE AA

Accessories

An Open Ended Balanced Scheme

10

31st May, 2015


Baroda Pioneer Monthly Income Plan (MIP) Fund

Investors understand that their principal will be at Moderate risk

This product is suitable for investors who are seeking*• Regular Income and capital appreciation over medium

term with providing liquidity• Investment in debt and money market instruments and

in equity and equity related instruments.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


To generate regular income through investment in debt and money market instruments and also to generate long-term capital appreciation by investing a portion in equity and equity related instruments.

FUND DETAILS

Nature of Scheme An Open Ended Income Scheme with no assured returns.


Fund Manager Ms. Hetal Shah#

Benchmark CRISIL MIP Blended Index


Minimum Investment ` 5,000/- & in multiples of ` 1.000/- thereafter

Entry Load Nil

Exit Load 1% if redeemed on or before 365 days from the date of allotment. Nil if redeemed after 365 days from the date of allotment


Options • Growth• Monthly Dividend 1. Payout 2. Reinvestment • Quarterly Dividend 1. Payout 2. Reinvestment • Bonus Option$



NAV `Plan AGrowth 18.7349Dividend - Monthly 13.3530Dividend - Quarterly 13.1473Plan B - DirectGrowth 19.1267Dividend - Quarterly 13.2230Dividend - Monthly 13.3995

PORTFOLIO CHARACTERISTIC

Average Maturity (Days) 1396.12Modified Duration (Years) 2.48

YTM (%) 8.29


PORTFOLIO


% to Net Assets

EQUITY & EQUITY RELATEDListed / awaiting listing on the stock exchanges

Axis Bank Limited Banks 1.16%Multi Commodity Exchange of India Limited

Finance 1.09%



Dabur India LimitedConsumer Non Durables

0.67%



ICICI Bank Limited Banks 0.63%LIC Housing FinanceLimited

Finance 0.63%

WABCO India Limited Auto Ancillaries 0.57%




0.55%


Sintex Industries Limited Industrial Products 0.55%Gateway DistriparksLimited


Bharat Electronics LimitedIndustrial Capital Goods

0.53%

BEML LimitedIndustrial Capital Goods

0.52%

Colgate Palmolive (India) Limited


0.50%Zee Entertainment Enterprises Limited


0.48%Sun Pharmaceuticals Industries Limited


Bosch Limited Auto Ancillaries 0.47%Maruti Suzuki India Limited Auto 0.47%Oberoi Realty Limited Construction 0.46%Cummins India Limited Industrial Products 0.46%Container Corporation of India Limited






Whirlpool of India Limited Consumer Durables 0.38%


Bharat Forge Limited Industrial Products 0.31%


Simplex Infrastructures Limited

Construction 0.30%


Construction 0.25%


Lupin Limited Pharmaceuticals 0.14%

Total 19.35%MONEY MARKET INSTRUMENTCertificate of Deposit**Syndicate Bank CRISIL A1+ 7.44%Total 7.44%CENTRAL GOVERNMENT SECURITIES8.60% CGL 2028 SOV 15.79%9.47% SDL 2024 SOV 5.37%8.24% CGL 2027 SOV 2.54%Total 23.70%

PORTFOLIO


% to Net Assets

BONDS & NCDsListed / awaiting listing on the stock exchanges




CRISIL AA- 9.32%

India Infoline Finance Limited

ICRA AA 6.43%


CRISIL AAA 5.05%


CRISIL AAA 2.52%

Total 44.51%CBLO / Reverse Repo Investments 1.98%Total 1.98%Cash & Cash EquivalentsNet Receivable/Payable 3.02%Total 3.02%Grand Total 100.00%All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.

RATING PROFILE

23.70%18.62%

10.14%9.32%

7.44%6.43%

5.00%4.14%

2.33%1.69%1.33%1.32%1.18%1.17%1.05%1.04%0.99%0.86%0.84%0.55%0.48%0.38%

SOVCRISIL AAA

CARE AACRISIL AA-CRISIL A1+

ICRA AACash & Equivalent

BanksFinance

SoftwareConstruction

Industrial ProductsPharmaceuticals

Consumer Non DurablesIndustrial Capital Goods

Auto AncillariesTransportation

AutoChemicals

Telecom - Equipment &Media & Entertainment

Consumer Durables

Accessories

INSTRUMENTS

An Open Ended Income Scheme with no assured returns.(Monthly income is not assured and is subject to the availability of distributable surplus.)

11

31st May, 2015


Baroda Pioneer Credit Opportunities Fund


This product is suitable for investors who are seeking*• Income over medium term.• Investment in a mix of debt and money market

instruments across the credit and maturity spectrum.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The primary objective of the Scheme is to generate returns by investing in debt and money market instruments across the credit spectrum. There is no assurance or guarantee that the investment objective of the Scheme will be realized.

FUND DETAILS

Nature of Scheme An Open Ended Debt Scheme

Date of Allotment January 23, 2015

Fund Manager Mr. Alok Sahoo, Ms. Hetal Shah

Benchmark CRISIL Short Term Bond Fund Index



Entry Load NA

Exit Load 1%, if redeemed on or before 365 days from the date of allotment of Units. Nil, if redeemed after 365 days from the date of allotment of Units.


Options • Growth• Monthly Dividend 1.Payout 2.Reinvestment• Quarterly Dividend 1.Payout 2.Reinvestment• Bonus Option$


MATURITY PROFILE 31 MAY 2015

Above 60 days 59.02Below 60 days 39.35


Average Maturity (Days) 714.09Modified Duration (Years) 1.47YTM (%) 11.03

$ Bonus option is discontinued from 8th June ,2015

PORTFOLIO


% to Net Assets


Commercial Paper**IIFL Realty Limited ICRA A1+ 12.61%

Peninsula Land Limited ICRA A1 11.10%

Jindal Steel & Power Limited CRISIL A1+ 10.21%

Bilt Graphic Paper Products Limited CRISIL A1+ 10.18%

Simplex Infrastructures Limited CARE A1+ 3.82%

Total 47.92%

BONDS & NCDsListed / awaiting listing on the stock exchanges

Muthoot Fincorp Limited CRISIL A 13.44%



CRISIL AA- 10.77%

India Infoline Finance Limited ICRA AA 10.34%

IDBI Bank Limited CRISIL AA- 1.27%

Total 47.91%

CBLO /Reverse Repo investments 2.53%

Total 2.53%



Total 1.64%

Grand Total 100.00%

All corporate ratings are assigned by rating agencies like CRISIL; CARE; ICRA; IND.**Thinly traded/Non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines.

RATING PROFILE

20.39%

13.44%

12.61%

12.09%

12.04%

11.10%

10.34%

4.17%

3.82%

CRISIL A1+

CRISIL A

ICRA A1+

CARE AA

CRISIL AA-

ICRA A1

ICRA AA

Cash & Equivalent

CARE A1+

INSTRUMENTS


NAV `Plan AGrowth 10.3834Dividend - Quarterly 10.3834Dividend - Monthly 10.3834Plan B - DirectGrowth 10.4216Dividend - Quarterly 10.4216Dividend - Monthly 10.4216

An Open Ended Debt Scheme

12

31st May, 2015


Baroda Pioneer Gilt Fund


This product is suitable for investors who are seeking*• Credit risk free regular Income over long term• Investment only in Government (both Central and State

Government) Securities* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


To generate income by investing in a portfolio of Government securities.

FUND DETAILS

Nature of Scheme An Open Ended Gilt Scheme



Benchmark I SEC-MI BEX



Entry Load Nil

Exit Load 0.25% if redeemed on or before 1 month (30 days) from the date of allotment. Nil if redeemed after 1 month (30 days) from the date of allotment


Options • Growth• Dividend 1 .Payout 2 .Reinvestment• Bonus Option$



Below 10 Years 15.29%

Above 10 Years 82.35%





PORTFOLIO


% to Net Assets


8.60% CGL 2028 SOV 33.91%

8.15% CGL 2026 SOV 20.10%

8.17% CGL 2044 SOV 12.82%

9.47% SDL 2024 SOV 7.20%

8.33% CGL 2026 SOV 5.99%

8.24% CGL 2027 SOV 5.45%

9.39% SDL 2023 SOV 4.48%

8.28% CGL 2027 SOV 4.10%

8.83% CGL 2023 SOV 2.11%

Total 96.16%


Total 1.50%



Total 2.34%

Grand Total 100.00%


RATING PROFILE

96.16%

3.84%

SOV

Cash & Equivalent

INSTRUMENTS


An Open Ended Gilt Scheme

13

31st May, 2015


Baroda Pioneer Income Fund


This product is suitable for investors who are seeking*• Regular Income over long term• Investment predominantly in good quality Fixed Income

Securities by maintaining a balance between Risk & Return.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


To generate regular income by investing in a portfolio of good quality Fixed Income Securities by maintaining a balance between Risk & Return.

FUND DETAILS

Nature of Scheme An Open Ended Income Scheme



Benchmark CRISIL Composite Bond Fund Index



Entry Load Nil

Exit Load 1% if redeemed on or before 365 days from the date of allotment. Nil if redeemed after 365 days from the date of allotment


Options • Growth• Dividend 1.Payout 2.Reinvestment• Bonus Option$



Below 2 year 4.80%2 year to 5 years 10.50%5 years and above 81.75%


NAV `Plan AGrowth 21.9192Dividend 21.9192Plan B - DirectGrowth 22.4380



PORTFOLIO


% to Net Assets


8.60% CGL 2028 SOV 37.85%

8.33% CGL 2026 SOV 6.55%

8.83% CGL 2023 SOV 3.59%

9.35% SDL 2024 SOV 3.45%

8.58% SDL 2023 SOV 3.09%

9.39% SDL 2023 SOV 1.98%

Total 56.51%

BONDS & NCDs




CRISIL AA- 10.06%

Vijaya Bank CRISIL AA- 8.36%

India Infoline Finance Limited ICRA AA 4.29%


ICRA AA 0.92%

Total 36.25%


Total 3.89%



Total 3.35%

Grand Total 100.00%


RATING PROFILE

56.51%

31.04%

7.24%

5.21%

SOV

CRISIL AA-

Cash & Equivalent

ICRA AA

INSTRUMENTS


An Open Ended Income Scheme

14

31st May, 2015


Baroda Pioneer Dynamic Bond Fund


This product is suitable for investors who are seeking*• Regular Income over medium term with providing

liquidity• Investment in medium to long term corporate bonds

and / or government securities and manage the portfolio dynamically through different interest rate cycles* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The investment objective of the scheme is to generate returns with liquidity by managing the portfolio dynamically through interest rate cycles.

FUND DETAILS



Fund Manager Mr. Alok Sahoo, Ms. Hetal Shah#




Entry Load Nil

Exit Load 0.50% if redeemed within 3 months from the date of allotment of units, Nil if redeemed after 3 months from the date of allotment of units


Options • Growth• Dividend 1. Payout 2. Reinvestment• Bonus Option$



Above 5 years 86.69%2 to 5 years 9.79%Below 2 Years 1.76%





PORTFOLIO


% to Net Assets


8.15% CGL 2026 SOV 25.88%

8.17% CGL 2044 SOV 14.76%

9.72% SDL 2023 SOV 10.48%

9.47% SDL 2024 SOV 10.36%

8.60% CGL 2028 SOV 8.74%

8.28% CGL 2027 SOV 4.92%

8.83% CGL 2023 SOV 3.04%

Total 78.18%

BONDS & NCDs



Vijaya Bank CRISIL AA- 5.66%


Total 18.29%


Total 1.76%



Total 1.77%

Grand Total 100.00%


RATING PROFILE

78.18%

9.78%

8.51%

3.53%

SOV

CARE AA

CRISIL AA-

Cash & Equivalent

INSTRUMENTS



15

31st May, 2015


Baroda Pioneer Short Term Bond Fund

Investors understand that their principal will be at Moderately Low risk

This product is suitable for investors who are seeking*• Regular Income over short term• Investment predominantly in Money Market Instruments

(i.e. CP/CD) and Short Term Debt Market Instruments* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The objective of the Scheme is to generate income from a portfolio constituted of short term debt and money market securities.

FUND DETAILS




Benchmark CRISIL Short Term Bond Fund Index



Entry Load Nil

Exit Load 0.50% if redeemed on or before 180 days from the date of allotment. Nil if redeemed after 180 days from the date of allotment


Options • Growth• Dividend 1. Payout 2. Reinvestment• Bonus Option$



Above 300 days 49.68%180 to 300 days 31.76%Below 180 days 17.28%





PORTFOLIO


% to Net Assets



IDBI Bank Limited CRISIL A1+ 15.91%

Total 15.91%

Commercial Paper**

S.D. Corporation Private Limited

CRISIL A1+ 15.84%


Total 26.85%

BONDS & NCDs


India Infoline Finance Limited CRISIL AA 11.36%


CRISIL AAA 8.42%

Aspire Home Finance Corporation Limited

CRISIL A+ 8.30%


CRISIL AA- 5.75%


CRISIL AAA 5.66%



CRISIL AAA 2.83%


CRISIL AAA 1.12%

Indiabulls Housing Finance Limited

CRISIL AAA 0.55%

Total 49.62%


Total 6.26%



Total 1.36%

Grand Total 100.00%


RATING PROFILE

42.76%

18.58%

11.36%

8.30%

7.62%

5.75%

5.63%

CRISIL A1+

CRISIL AAA

CRISIL AA

CRISIL A+

Cash & Equivalent

CRISIL AA-

CARE AA

INSTRUMENTS



16

31st May, 2015


Baroda Pioneer Public Sector Undertaking (PSU) Bond Fund


This product is suitable for investors who are seeking*• Regular Income over medium term with lower risk

exposure• Investment predominantly in Fixed Income instruments

of Public Sector Undertakings (PSUs) - banks, financialinstitutions & companies.* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The investment objective is to generate stable returns with lower risk by investing in Fixed Income instruments of Public Sector Undertakings (PSUs) - banks, financial institutions & companies.

FUND DETAILS







Entry Load Nil

Exit Load Nil


Options • Growth• Monthly Dividend 1.Payout 2.Reinvestment• Quarterly Dividend 1.Payout 2.Reinvestment• Bonus Option$



Above 700 days 81.55%300 to 700 days 0.00%Below 300 days 1.74%


NAV `Plan AGrowth 15.0560Dividend - Monthly 10.2106Dividend - Quarterly 10.3009Plan B - DirectGrowth 15.1522Dividend - Monthly 10.2077Dividend - Quarterly NA



PORTFOLIO


% to Net Assets


8.83% CGL 2023 SOV 23.08%

8.60% SDL 2023 SOV 2.00%

Total 25.08%

BONDS & NCDs



CRISIL AAA 22.37%


CRISIL AAA 19.28%


CRISIL AAA 14.81%

Total 56.46%


Total 1.74%



Total 16.72%

Grand Total 100.00%


RATING PROFILE

56.46%

25.08%

18.46%

CRISIL AAA

SOV

Cash & Equivalent

INSTRUMENTS



17

31st May, 2015


[ICRA] A1+ mfs*Baroda Pioneer Treasury Advantage Fund

$ Bonus option is discontinued from 8th June ,2015Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Treasury Advantage Fund (earlier called Institutional Plan)*For Disclaimer please refer page no 23# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

Investors understand that their principal will be at Moderately Low risk

This product is suitable for investors who are seeking*• Regular income over short term with maintaining a

balance between returns and liquidity• Investment predominantly in Money Market (i.e. CP/

CDs) and Debt Market Instruments* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


The main objective of the scheme is to provide optimal returns and liquidity through a portfolio comprising of debt securities and money market instruments

FUND DETAILS




Benchmark CRISIL Liquid Fund Index



Entry Load Nil

Exit Load Nil


Options

• Growth • Daily Dividend 1 .Reinvestment • Weekly Dividend 2 .Payout 3 .Reinvestment • Monthly Dividend 1 .Payout 2 .Reinvestment• Quarterly Dividend 1.Payout 2 .Reinvestment• Bonus Option$



Above 50 days 64.42%Below 50 days 42.20%



PORTFOLIO


% to Net Assets


Certificate of Deposit**Andhra Bank CRISIL A1+ 6.71%Axis Bank Limited CRISIL A1+ 3.51%IDBI Bank Limited CRISIL A1+ 3.22%Syndicate Bank CRISIL A1+ 2.88%Oriental Bank of Commerce CRISIL A1+ 2.00%Canara Bank CRISIL A1+ 1.67%IDBI Bank Limited CRISIL A1+ 0.69%

Total 20.68%Commercial Paper**

Edelweiss Financial Services Limited

CRISIL A1+ 3.57%

Edelweiss Commodities Services Limited

CRISIL A1+ 3.57%

S.D. Corporation Private Limited CRISIL A1+ 3.55%Shapoorji Pallonji & Company Private Limited

ICRA A1+ 3.35%

Bilt Graphic Paper Products Limited

CRISIL A1+ 3.26%

Peninsula Land Limited ICRA A1 3.05%Peninsula Land Limited ICRA A1 1.94%Edelweiss Financial Services Limited

CRISIL A1+ 1.78%


CRISIL A1+ 1.78%

Afcons Infrastructure Limited CRISIL A1+ 1.72%Afcons Infrastructure Limited CRISIL A1+ 1.72%Housing Development Finance Corporation Limited

ICRA A1+ 1.71%


ICRA A1+ 1.70%

Small Industries Development Bank of India

CARE A1+ 1.68%

Jindal Steel & Power Limited CRISIL A1+ 0.28%Total 34.66%BONDS & NCDsListed / awaiting listing on the stock exchangesIndia Infoline Housing Finance Limited

CRISIL AA 3.65%

Aspire Home FinanceCorporation Limited

CRISIL A+ 3.47%

Muthoot Fincorp Limited CRISIL A 2.81%JSW Steel Limited CARE AA 2.75%Power Finance Corporation Limited

CRISIL AAA 1.85%

Power Finance Corporation Limited CRISIL AAA 1.79%

India Infoline Housing Finance Limited CRISIL AA 1.55%


CRISIL AA- 0.97%

India Infoline Finance Limited CRISIL AA 0.89%Nabha Power Limited CRISIL AAA 0.72%Power Finance Corporation Limited

CRISIL AAA 0.72%


CRISIL AAA 0.47%


CRISIL AAA 0.47%


CRISIL AAA 0.37%

Steel Authority of India Limited CARE AAA 0.36%IDFC Limited CRISIL AAA 0.36%Power Grid Corporation of India Limited

CRISIL AAA 0.33%


CRISIL AAA 0.25%

Cholamandalam Investment and Finance Company Limited

ICRA AA 0.22%

NHPC Limited CRISIL AAA 0.19%India Infoline Housing Finance Limited

ICRA AA 0.08%

Hdb Financial Services Limited CRISIL AAA 0.02%Total 24.29%Fixed DepositThe Jammu & Kashmir Bank Limited

Unrated 2.71%

Bank of Nova Scotia Unrated 1.29%Total 4.00%CBLO / Reverse Repo Investments 15.35%Total 15.35%

PORTFOLIO


% to Net Assets

Cash & Cash EquivalentsNet Receivable/Payable 1.02%Total 1.02%Grand Total 100.00%


RATING PROFILE

41.91%

16.37%

7.54%

6.76%

6.09%

4.99%

4.00%

3.47%

2.81%

2.75%

1.68%

0.97%

0.36%

0.30%

CRISIL A1+

Cash & Equivalent

CRISIL AAA

ICRA A1+

CRISIL AA

ICRA A1

Unrated

CRISIL A+

CRISIL A

CARE AA

CARE A1+

CRISIL AA-

CARE AAA

ICRA AA

INSTRUMENTS


NAV `RegularGrowth 1594.9906Dividend - Daily 1002.7120Dividend - Weekly 1002.3237Dividend - Monthly 1003.8153Dividend - Quarterly 1083.0132Plan ABonus 1613.6348Growth 1616.4559Dividend - Daily 1026.0442Dividend - Weekly 1023.8555Dividend - Monthly 1002.8479Dividend - Quarterly

Plan B - DirectBonus 1626.6443Growth 1626.7698Dividend - Daily 1007.7277Dividend - Weekly 1002.4768Dividend - Monthly 1002.9035Dividend - Quarterly 1025.9964

1020.2225


18

31st May, 2015


[ICRA] A1+ mfs*Baroda Pioneer Liquid Fund

$ Bonus option is discontinued from 8th June ,2015Effective November 01, 2012, dividends declared under the Regular Plan (which has been discontinued from October 01, 2012) will be reinvested in Baroda Pioneer Liquid Fund (earlier called Institutional Plan)

*For Disclaimer please refer page no 23# For performance of the Scheme and other funds managed by the said Fund manager, either individually or jointly, please refer page no 19 - 22

Investors understand that their principal will be atLow risk

This product is suitable for investors who are seeking*

• Regular income over short term with high level of liquidity

• Investment predominantly in Money Market (i.e. CP / CDs) Instruments* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


To generate income with a high level of liquidity by investing in a portfolio of money market and debt securities.

FUND DETAILS

Nature of Scheme An Open Ended Liquid Scheme

Date of Allotment February 5, 2009


Benchmark CRISIL Liquid Fund Index



Entry Load Nil

Exit Load Nil


Options • Growth• Daily Dividend 1.Reinvestment• Weekly Dividend 2.Payout 3.Reinvestment• Bonus Option$



Above 60 days 14.56%Below 60 days 85.32%


Average Maturity (Days) 25.79 Modified Duration (Years) 0.07YTM (%) 8.25

PORTFOLIO


% to Net Assets


Certificate of Deposit**Union Bank of India CRISIL A1+ 6.67%


Oriental Bank of Commerce CRISIL A1+ 5.27%

Punjab National Bank CRISIL A1+ 3.60%





Axis Bank Limited CRISIL A1+ 2.65%


Union Bank of India CRISIL A1+ 1.80%

Tamilnad Mercantile Bank Limited CRISIL A1+ 1.79%



Total 43.52%

Commercial Paper**Reliance Retail Limited CARE A1+ 9.00%Indiabulls Finance Company Private Limited

CRISIL A1+ 3.14%

Indiabulls Infrastructure Credit Limited

CRISIL A1+ 3.14%


CRISIL A1+ 1.80%

Coromandel International Limited CRISIL A1+ 1.80%

Essel Mining & Industries Limited ICRA A1+ 1.80%

E.I.D. Parry (India) Limited CRISIL A1+ 1.80%

National Bank for Agriculture & Rural Development

CRISIL A1+ 1.77%

Reliance Home Finance Limited CRISIL A1+ 1.77%

IIFL Realty Limited ICRA A1+ 1.24%

Edelweiss Financial Services Limited CRISIL A1+ 0.90%


CRISIL A1+ 0.90%

Edelweiss Financial Services Limited CRISIL A1+ 0.90%

Bilt Graphic Paper Products Limited CRISIL A1+ 0.89%

Bilt Graphic Paper Products Limited IND A1+ 0.88%

Simplex Infrastructures Limited CARE A1+ 0.87%


JK Cement Limited CARE A1+ 0.45%



ICICI Home Finance Company Limited

ICRA A1+ 0.45%

Total 35.12%

Treasury Bill

TBILL 91 DAY 20 Aug 2015 SOV 3.95%

Total 3.95%

Fixed Deposit

Indusind Bank Limited Unrated 2.70%

Karur Vysya Bank Limited Unrated 2.04%

Corporation Bank Unrated 1.80%

Total 6.54%

CBLO /Reverse Repo investments 10.76%

Total 10.76%



PORTFOLIO


% to Net Assets

Total 0.11%

Grand Total 100.00%


RATING PROFILE

63.05%

11.22%

10.87%

6.54%

3.95%

3.49%

0.88%

CRISIL A1+

CARE A1+

Cash & Equivalent

Unrated

SOV

ICRA A1+

IND A1+

INSTRUMENTS


NAV `RegularGrowth NADividend NADividend - Daily NAPlan ABonus NAGrowth NADividend - Daily NADividend - Weekly NADividend - Monthly -Plan B - DirectGrowth NADividend - Daily NADividend - Weekly NABonus NA

An Open Ended Liquid Scheme

19

31st May, 2015


Investment Performance

Funds Managed by Mr. Dipak Acharya

Date Of Inception: 12/09/2003 Mar 2014 - Mar 2015&

Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&

Since Inception@Scheme Name & Benchmark

Nav Per Unit (`) 55.48 46.93 45.72 10.00

Baroda Pioneer Growth Fund (in %)^ 42.50 18.22 2.65 19.59

CNX 100 (Scheme Benchmark) (in %) 29.14 18.25 7.28 17.59

CNX Nifty (Standard Benchmark) (in %)$ 26.65 17.98 7.31 17.08

` 10,000, if invested in BPGF, would have become NA NA NA `79060

` 10,000, if invested in CNX 100, would have become NA NA NA `65050

` 10,000, if invested in CNX Nifty, would have become NA NA NA `61883

^Past performance may or may not be sustained in the future.Data is for Growth Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs ‘Since Inception’ returns are @Compounded Annualised and are calculated on the basis of `10 invested at inception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.


Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 23.76 21.41 21.73 10.00

Baroda Pioneer ELSS’ 96 Fund (in %)^ 43.83 20.80 4.61 13.82

S&P BSE Sensex (Scheme Benchmark) (in %) 24.89 18.70 8.23 11.78


`10,000, if invested in BPELSS’96F, would have become NA NA NA `117157

`10,000, if invested in S&P BSE Sensex, would have become NA NA NA `83043

`10,000, if invested in CNX Nifty, would have become NA NA NA `86177

^Past performance may or may not be sustained in the future.Data is for Dividend Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs. ‘Since Inception’ returns are @Compounded Annualised are calculated on the basis of `10 invested at inception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.


Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 33.63 29.11 27.36 10.00

Baroda Pioneer Balance Fund (in %)^ 29.32 15.53 6.40 13.56

CRISIL Balanced Fund Index (Scheme Benchmark) (in %) 22.53 13.40 8.18 13.62


`10,000, if invested in BPBF, would have become NA NA NA `43490

`10,000, if invested in CRISIL Balanced Fund Index, would have become NA NA NA `43745




Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 11.23 10.69 NA 10.00

Baroda Pioneer Banking and Financial Services Fund (in %)^ 42.65 5.05 NA 18.53

CNX BANK INDEX (Scheme Benchmark) (in %) 42.89 12.15 NA 23.95

CNX Nifty (Standard Benchmark) (in %)$ 26.65 17.98 NA 19.80

`10,000, if invested in BPBFSF, would have become NA NA NA `16020

`10,000, if invested in CNX BANK INDEX, would have become NA NA NA `18137



20

31st May, 2015



Funds Managed by Mr. Dipak Acharya


Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 8.32 6.99 7.74 10.00

Baroda Pioneer Infrastructure Fund (in %)^ 46.63 19.03 -9.69 4.25

CNX Infra (Scheme Benchmark) (in %) 24.27 18.34 -11.93 -0.77


`10,000, if invested in BPIF, would have become NA NA NA `12200

`10,000, if invested in CNX Infra, would have become NA NA NA `9637


^Past performance may or may not be sustained in the future.Data is for Growth Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs @Since Inception returns are Compounded Annualised and are calculated on the basis of `10 invested at inception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.


Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 6.71 6.62 7.33 10.00

Baroda Pioneer PSU Equity Fund (in %)^ 24.14 1.36 -9.69 -3.99

S&P BSE PSU (Scheme Benchmark) (in %) 19.72 -1.95 -11.36 -6.97


`10,000, if invested in BPPSUEF, would have become NA NA NA `8330

`10,000, if invested in S&P BSE PSU, would have become NA NA NA `7228




Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 13.60 12.67 11.47 10.00

Baroda Pioneer PSU Bond Fund (in %)^ 9.60 7.35 10.50 7.88

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 14.59 4.39 9.24 7.98

CRISIL 10 Year Gilt Index (Standard Benchmark) (in %)$ 14.57 -0.96 11.25 5.89

`10,000, if invested in BPPSUBF, would have become NA NA NA `14910

`10,000, if invested in CRISIL Composite Bond Fund Index, would have become NA NA NA `14986

`10,000, if invested in CRISIL 10 Year Gilt Index, would have become NA NA NA `13521



Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 13.21 12.23 11.18 10.00

Baroda Pioneer Short Term Bond Fund (in %)^ 9.80 7.96 9.47 8.13

CRISIL Short Term Bond Fund Index (Scheme Benchmark) (in %) 10.33 8.86 9.05 8.46


`10,000, if invested in BPSTBF, would have become NA NA NA `14502

`10,000, if invested in CRISIL Short Term Bond Fund Index, would have become NA NA NA `14711



Funds Managed by Mr. Alok Sahoo, Ms Hetal Shah

21

31st May, 2015



Funds Managed by Mr. Alok Sahoo, Ms. Hetal Shah


Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 1470.62 1343.35 1228.68 1000.00

Baroda Pioneer Liquid Fund (in %)^ 8.96 9.47 9.33 7.97

CRISIL Liquid Fund Index (Scheme Benchmark) (in %) 8.98 9.54 8.17 7.49

CRISIL 1 year T-Bill (Standard Benchmark) (in%)$ 8.74 5.84 8.33 5.88

`10,000, if invested in BPLF, would have become NA NA NA `16024

`10,000, if invested in CRISIL Liquid Fund Index, would have become NA NA NA `15595

`10,000, if invested in CRISIL 1 year T-Bill, would have become NA NA NA `14212



Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 1458.73 1331.65 1213.51 1000.00

Baroda Pioneer Treasury Advantage Fund (in %)^ 9.24 9.54 9.74 8.41

CRISIL Liquid Fund Index (Scheme Benchmark) (in %) 8.98 9.54 8.17 7.55

CRISIL 1 year T-Bill (Standard Benchmark) (in %)$ 8.74 5.84 8.33 6.03

`10,000, if invested in BPTAF, would have become NA NA NA `15935

`10,000, if invested in CRISIL Liquid Fund Index, would have become NA NA NA `15218

`10,000, if invested CRISIL 1 year T-Bill, would have become NA NA NA `14022

^Past performance may or may not be sustained in the future.Data is for Growth Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs. @Since Inception returns are Compounded Annualised and are calculated on the basis of `1000 invested at inception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.

Date of Inception: 30/06/2012 Mar 2014 - Mar 2015&

Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 11.23 10.74 NA 10.00

Baroda Pioneer Dynamic Bond Fund (in %)^ 16.29 4.59 NA 10.19

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 14.59 4.39 NA 9.35

CRISIL 1 year T-Bill (Standard Benchmark) (in %)$ 8.74 5.84 NA 7.54

`10,000, if invested in BPDBF, would have become NA NA NA `13059

`10,000, if invested in CRISIL Composite Bond Fund Index, would have become NA NA NA `12788

`10,000, if invested CRISIL 1 year T-Bill, would have become NA NA NA `12213



Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 16.01 14.79 13.68 10.00

Baroda Pioneer Monthly Income Plan (MIP) Fund (in %)^* 16.26 8.25 8.12 6.06

CRISIL MIP Blended Index (Scheme Benchmark) (in %) 16.45 6.52 9.06 8.51


`10,000, if invested in BPMIPF, would have become NA NA NA `18612

`10,000, if invested in CRISIL MIP Blended Index, would have become NA NA NA `23709


^Past performance may or may not be sustained in the future.Data is for Growth Option and the last working day of March has been considered in all cases. Returns have been computed assuming that all payouts during the period have been reinvested in the units of the Scheme at the respective prevailing NAVs @Since Inception returns are Compounded Annualised and are calculated on the basis of `10 invested at in-ception. &Absolute Returns, $Standard benchmark as prescribed by SEBI for comparison purposes. Returns on `10,000 are point-to-point returns for the specific time period, invested at the start of the period.

Funds Managed by Ms. Hetal Shah

22

*Monthly income is not assured and is subject to the availability of distributable surplus.

31st May, 2015



Funds Managed by Ms. Hetal Shah


Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 19.08 18.23 16.64 10.00

Baroda Pioneer Gilt Fund (in %)^ 15.83 4.62 9.56 6.27

I-Sec Mi-BEX (Scheme Benchmark) (in %) 14.37 5.14 10.94 NA

CRISIL 10 Year Gilt Index (Standard Benchmark)$ 14.57 -0.96 11.25 6.47

`10,000, if invested in BPGF, would have become NA NA NA `22095

`10,000, if invested in I-Sec Mi-BEX, would have become NA NA NA NA




Mar 2013- Mar 2014&

Mar 2012 - Mar 2013&


Nav Per Unit (`) 19.09 18.32 16.82 10.00

Baroda Pioneer Income Fund (in %)^ 14.92 4.19 8.95 6.21

CRISIL Composite Bond Fund Index (Scheme Benchmark) (in %) 14.59 4.39 9.24 NA


`10,000, if invested in BPIF, would have become NA NA NA `21940

`10,000, if invested in CRISIL Composite Bond Fund Index, would have become NA NA NA NA



Disclaimer CNX Bank Index: The Baroda Pioneer Banking and Financial Services Fund offered by Baroda Pioneer Mutual Fund or its affilates is not sponsored,

endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty,

express or implied (including warranties of merchantability or fitness for particular purpose or use) to the owners of Baroda Pioneer Banking and Financial Services

Fund or any member of the public regarding the advisability of investing in securities generally or in the Baroda Pioneer Banking and Financial Services Fund linked

to CNX Bank Index or particularly in the ability of the CNX Bank Index to track general stock market performance in India. Please read the full disclaimers in relation

to the CNX Bank Index in the Offer Document/ Prospectus / Information Statement.

Disclaimer CNX100: Baroda Pioneer Growth Fund is are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (“IISL”). IISL does

not make any representation or warranty, express or implied, to the owners of Baroda Pioneer Growth Fund or any member of the public regarding the advisability

of investing in securities generally or in Baroda Pioneer Growth Fund particularly or the ability of the CNX 100 Index to track general stock market performance

in India. The relationship of IISL to the Issuer is only in respect of the licensing of certain trademarks and trade names of its Index, which is determined, composed

and calculated by IISL without regard to the Issuer or Baroda Pioneer Growth Fund. IISL does not have any obligation to take the needs of the Issuer or the owners

of Baroda Pioneer Growth Fund into consideration in determining, composing or calculating the CNX 100 Index. IISL is not responsible for nor has participated in

the determination of the timing of, prices at, or quantities of Baroda Pioneer Growth Fund to be issued or in the determination or calculation of the equation by

which Baroda pioneer Growth Fund is to be converted into cash. IISL has no obligation or liability in connection with the administration, marketing or trading of

Baroda Pioneer Growth Fund.

Disclaimer CNX Infra: Baroda Pioneer Infrastructure Fund offered by Baroda Pioneer Mutual Fund is not sponsored, endorsed, sold or promoted by India Index

Services & Products Limited (IISL). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for

particular purpose or use) and disclaims all liability to the owners of Baroda Pioneer Infrastructure Fund or any member of the public regarding the advisability of

investing in securities generally or in the Baroda Pioneer Infrastructure Fund linked to CNX Infra or particularly in the ability of the CNX Infra index to track general

stock market performance in India. Please read the full disclaimers in relation to CNX Infra in the Offer Document / Prospectus / Information Statement.

*ICRA Credit Ratings: The rating indicates highest-credit quality rating assigned by ICRA Ltd. to debt funds. Schemes with this rating are considered to have

very strong degree of safety regarding timely receipt of payments from the investments that they have made. This rating should however not be construed as an

indication of the performance of the Mutual Fund scheme or of volatility in its returns. The rating should not be treated as a recommendation to buy, sell or hold

the units issued by the Mutual Fund.

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

23

31st May, 2015


Contact Points:Registered OfficeBaroda Pioneer Asset Management Company Ltd.CIN : U65991MH1992PLC069414501 Titanium, 5th Floor, Western Express Highway, Goregaon (E),Mumbai - 400063.Phone: +91 22 3074 1000 / 4219 7999. Fax: +91 22 3074 1001.Toll Free Number: 1-800-419 0911 | Email: [email protected]:www.barodapioneer.in

24

Karvy Computershare Private LimitedAddress and Contact detailsMFS Branches

• Bangalore [email protected] 080-26600785 • Belgaum [email protected] 0831 2402544 • Bellary [email protected] 08392 – 254750 • Davangere [email protected] 0819-2258714 • Dharwad [email protected] 0836- 2744207• Gulbarga [email protected] 0847-2310040 • Hassan [email protected] 08172 262065 • Hubli [email protected] 0836-2252444 • Mangalore [email protected] 0824-2496289 • Margoa [email protected] 0832-2731823 • Mysore [email protected] 0821-2438006 • Panjim [email protected] 0832-2426873 • Shimoga [email protected] 08182-228799 • Ahmedabad [email protected] 079-65445550 • Anand [email protected] 9662020623 • Ankleshwar [email protected] 02646 645326 • Baroda [email protected] 0265-6640870 • Bharuch [email protected] 02642-225022 • Bhavnagar [email protected] 278-3003149 • Gandhidham [email protected] 02836 651296 • Gandhinagar [email protected] 079-23244955 • Jamnagar [email protected] 0288-2558887 • Junagadh [email protected] 0285-2652220 • Mehsana [email protected] 02762-242950 • Nadiad [email protected] 0268-2563245 • Navsari [email protected] 02637-280367 • Rajkot [email protected] 2816545888 • Surat [email protected] 0261-3042170 • Valsad [email protected] 02632-258481 • Vapi [email protected] 9228012909 • Chennai [email protected] 044-42028512 • Alleppy [email protected] 0477 2263055 • Calicut [email protected] 0495-4022480 • Cochin [email protected] 0484 3000232 • Kannur [email protected] 0497-2764190 • Kollam [email protected] 0474-2747055 • Kottayam [email protected] 0481-2300868 • Malappuram [email protected] 0483-2731480 • Palghat [email protected] 491 6061110 • Thodupuzha [email protected] 0486-2211209 • Tiruvalla [email protected] 0469-3205676 • Trichur [email protected] 0487-3246231 • Trivandrum [email protected] 0471-2725728 • Coimbatore [email protected] 0422 - 4388011 • Dindigul [email protected] 0451- 6451043 • Erode [email protected] 0424-4021212 • Karaikudi [email protected] 04565-237192 • Karur [email protected] 04324-241755 • Madurai [email protected] 0452-2605856 • Nagerkoil [email protected] 04652 - 233552 • Namakkal [email protected] 04286- 23480 • Pollachi [email protected] 04259- 235111 • Pondicherry [email protected] 0413 2220640 • Pudukottai [email protected] 04322 - 220050 • Rajapalayam [email protected] 04563 - 232952 • Salem [email protected] 0427-4020300 • Sivakasi [email protected] 04562 228816 • Thanjavur [email protected] 04362-275415 • Tirunelveli [email protected] 0462 2335137 • Tirupur [email protected] 0421-2214221 • Trichy [email protected] 0431-4020227 • Tuticorin [email protected] 0461-2334603 • Vellore [email protected] 0416 2215007 • Agartala [email protected] 0381-2317519 • Guwahati [email protected] 8811036746 • Shillong [email protected] 0364 2506106 • Silchar [email protected] 03842 261714 • Ananthapur [email protected] 08554-244449 • Eluru [email protected] 08812-227851 • Guntur [email protected] 0863-2339094 • Hyderabad [email protected] 040-44677075/ 44677076/44677077/44677348 • Karimnagar [email protected] 0878-2261779 • Kurnool [email protected] 08158-228550 • Nanded [email protected] 02462-237885 • Nellore [email protected] 0861-2349940 • Nizamabad [email protected] 08462-224366 • Proddatur [email protected] 08564 - 242898 • Rajahmundry [email protected] 0883-2434468 • Solapur [email protected] 0217-2300021 • Srikakulam [email protected] 08942-225384 • Tirupathi [email protected] 0877-6544567 • Vijayanagaram [email protected] 08922-236962 • Vijayawada [email protected] 0866-2475126 • Visakhapatnam [email protected] 0891-2714125 • Warangal [email protected] 0870-2501664 • Akola [email protected] 0724-2451874 • Amaravathi [email protected] 0721-3291081 • Aurangabad [email protected] 0240-2343414 • Betul [email protected] 07141 - 231301 • Bhopal [email protected] 0755-4092712 • Chandrapur [email protected] 07172-270262 • Dewas [email protected] 07272-426010 • Dhule [email protected] 02562-282823 • Indore [email protected] 0731-4266828 • Jabalpur [email protected] 0761-3204376 • Jalgaon [email protected] 0257-2226761 • Nagpur [email protected] 0712-2533040 • Nasik [email protected] 0253-6611395 • Ratlam [email protected] 07412-402007 • Sagar [email protected] 07582-402404 • Ujjain [email protected] 0734-4250007 • Asansol [email protected] 0341-3266507 • Balasore [email protected] 06782-260503 • Bankura [email protected] 03242-255964 • Barhampore (Wb) [email protected] 03482 274494 • Berhampur (Or) [email protected] 0680-2228106 • Bhilai [email protected] 0788-2295999 • Bhubaneswar [email protected] 0674-6534585 • Bilaspur [email protected] 07752-408436• Bokaro [email protected] 9204061959 • Burdwan [email protected] 0342-2665140 • Chinsura [email protected] 033-26810164 • Cuttack [email protected] 0-9238102118 • Dhanbad [email protected] 0326-6452027, 0326- 2301045 • Durgapur [email protected] 0343-6512111 • Gaya [email protected] 0631-2220065 • Jalpaiguri [email protected] 03561-222136 • Jamshedpur [email protected] 0657-6655000 • Kharagpur [email protected] 03222-253380 • Kolkata [email protected] ; [email protected] 033-40611135/ 36; 033-24659263/9267, 24635432, 24669450, 24196462 • Malda [email protected] 03512-223763 • Patna [email protected] 0612-6453098 • Raipur [email protected] 0771-4052620 • Ranchi [email protected] 0651-2331320 • Rourkela [email protected] 0661-2500005 • Sambalpur [email protected] 0663-2522105 • Siliguri [email protected] 0353-2526393, 0353-2522579 • Agra [email protected] 9369918603 • Aligarh [email protected] 9369918604 • Allahabad [email protected] 9369918605 • Ambala [email protected] 9315017301 • Azamgarh [email protected] 9307910001 • Bareilly [email protected] 9369918607 • Begusarai [email protected] 9308793949 • Bhagalpur [email protected] 9386256100 • Darbhanga [email protected] 06272-220145 • Dehradun [email protected] 9369918608 • Deoria [email protected] 7499496134 • Faridabad [email protected] 9310448851 • Ghaziabad [email protected] 9310448804 • Ghazipur [email protected] 7499496131 • Gonda [email protected] 7499496127 • Gorakhpur [email protected] 9369918610 • Gurgaon [email protected] 9310448806 • Gwalior [email protected] 9300004262 • Haldwani [email protected] 9369918611 • Haridwar [email protected] 9369918612 • Hissar [email protected] 9315017303 • Jaunpur [email protected] 9369918613 • Jhansi [email protected] 9369918614 • Kanpur [email protected] 9369918615/6 • Korba [email protected] 9300155683 • Lucknow [email protected] 9369918600 • Mandi [email protected] 9318873501• Mathura [email protected] 9369918618 • Meerut [email protected] 9369918619 • Mirzapur [email protected] 7499496133 • Moradabad [email protected] 9369918620 • Morena [email protected] 7489361265 • [email protected] 9386256101 • Noida [email protected] 9310448805 • Panipat [email protected] 9315017304 • Renukoot [email protected] 7499495854 • Rewa [email protected] 7489755878 • Rohtak [email protected] 9315017305 • Roorkee [email protected] 9369918621 • Saharanpur [email protected] 9369918622 • Satna [email protected] 9300004263 • Shaktinagar [email protected] 7499496129 • Shimla [email protected] 9318644501 • Shivpuri [email protected] 9303028921 • Sitapur [email protected] 9369918623 • Solan [email protected] 9318991871 • Sonepat [email protected] 9315457164 • Sultanpur [email protected] 9369918624 • Varanasi [email protected] 9369918626 • Yamuna Nagar [email protected] 9315017306 • Kolhapur [email protected] 0231 2653656 • Mumbai [email protected] 022-66235353 • Pune [email protected] 020-25533795 • Ajmer [email protected] 0145-5120725 • Alwar [email protected] 0144-3291200 • Amritsar [email protected] 0183-5053802 • Bhatinda [email protected] 0164-5006725 • Bhilwara [email protected] 01482-246362 • Bikaner [email protected] 0151-2200014 • Chandigarh [email protected] 0172-5101342 • Ferozpur [email protected] 01632-241814 • Hoshiarpur [email protected] 01882-500143 • Jaipur [email protected] 0141-4167714 • Jalandhar [email protected] 0181-5094410 • Jammu [email protected] 0191-2458820 • Jodhpur [email protected] 0291-6454590 • Karnal [email protected] 0184-2252524 • Kota [email protected] 0744-5100964 • Ludhiana [email protected] 0161-4648747 • Moga [email protected] 01636-230792 • New Delhi [email protected] 011-43681700 • Pathankot [email protected] 0186-5080188 • Patiala [email protected] 0175-5004349 • Sikar [email protected] 01572-250398 • Sri Ganganagar [email protected] 0154-2470177 • Udaipur [email protected] 0294-2429370

31st May, 2015...31st May, 2015 BARODA PIONEER MUTUAL FUND Dear Investors, Warm Greetings! Post a...

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