Market Outlook - Aditya Birla Capital Patil Co - Head Equity Maneesh Dangi Co - Head Fixed Income...

Market OutlookS e p t e m b e r 2 0 0 8

EQUITY MARKET

DEBT MARKET

Our Investment Team (In alphabetical order): As on 31st August , 2008

A. Balasubramanian Chief Investment Officer

Achala Kanitkar Research Analyst - Equity

Ajay Argal Co - Head Equity

Ajay Garg Fund Manager - Equity

Ankit Sancheti Fund Manager - Equity

Atul Penkar Fund Manager - Equity

Hemang Dagli Sr. Dealer - Equity & Deri. Specialist

Hina Sampat Executive - Knowledge Management

Jignesh Shah Fund Manager

Lokesh Mallya Credit Analyst-Fixed Income

Mahesh Patil Co - Head Equity

Maneesh Dangi Co - Head Fixed Income

Paresh Khandelwal Equity Analyst

Prasad Dhonde Fund Manager - Debt

Sanjay Chawla Fund Manager - Equity

Satyabrata Mohanty Co - Head Fixed Income

Sujit Patki Dealer-Equity

Sunaina da Cunha Credit Analyst-Fixed Income

Vineet Maloo Fund Manager - Equity

Indian markets staged some rally on back of falling commodity / crude prices

before retreating on global market concerns. BSE Sensex gained 1.5% for the

month, while Midcap stocks rallied with CNX Midcap Index gaining close to 2.9%.

On sectoral front, BSE Auto index gained 8.7% for the month, Bankex up 7.7%

while Metals Index fell 4.4%.

Even after the exit of the Left from the ruling UPA coalition, the reforms agenda is

only partially being kept alive. So the low hanging fruit of auctioning 3G Telecom

Spectrum was targeted while the burning issue at hand, that of fuel subsidies, was

pushed back on the priority list. The largesse continued with the cabinet’s approval

of the 6th commission’s recommendations. The minimum salary of a government

employees has been fixed at Rs10,000 per month including allowances, Annual

rate of increment increased from 2.5% to 3%, effective from 1st Jan 06 instead of

1st Jan 07. The financial implication of the adoption could mean an annual

increase in wage bill of Rs 17,800 Crs to the Centre and Rs. 29,400 Crs for arrears,

much in excess of implications assessed in commission’s report

Although, the expansionary fiscal steps diverge from the ends the Reserve Bank is

pursuing, it should help boost consumption spending and is particularly positive for

industries like two-wheelers and passenger cars in the medium term.

The WPI inflation still remains high at 12.40% (for the week ending 16-Aug-08) and

10.44% YTD current fiscal. The silver lining is that the monsoon has become

normal, after giving early jitters. So, barring a couple of regions in Maharashtra,

Karnataka, Kerala and North-East the rest of the country has received normal

rainfall. As per the Indian Meteorological Department, the number of regions with

Bond market

The 10-year benchmark yield, eased towards the end of the month, after being at

elevated levels throughout the month. The yield ended at 75 bps lower at 8.63%

compared with the previous month’s 9.38%. Fall in crude oil prices to its lowest level

in last few months helped improve the sentiment.

Annual WPI inflation rate hovered well-above 12%. Traders stayed cautious of an

aggressive reaction by the central bank to quell inflationary pressures. Meanwhile

liquidity remained constrained throughout and the call rates surged to hit a high of

9.50%. Call rates however, eased for a brief period towards the end of the month on

the back of inflows from the bond redemptions. Bonds also rallied taking support

from the minor dip in the inflation rate and the slower-than-expected GDP growth

that boosted the market mood triggering buying interest in bonds.

Corporate bond yields consolidated in a range after the shift upwards in reaction to

tighter monetary policy last month. However, trading activity in the corporate bonds

market continued to be minimal in the absence of surplus cash. The 5-year AAA

yield rose to 11.06% from 10.92% and its credit spread widened to 201 bps from

133 bps.

Indian Economy

The industrial output rose 5.4 percent in June, above the previous month's

upwardly revised 4.0 percent. Output growth has fallen from the double-digit levels

seen early last year as tight monetary policy and a stronger rupee lowered demand.

deficient rainfall has reduced from 14 in mid-July to just 4 now. The brighter outlook

for agriculture has reduced the risk of a further rise in food prices. The fall in

precious metals prices, particularly gold, signals those inflationary risks are

receding globally as well.

The DoT announced guidelines for 3G spectrum allocation, allowing 5-10 players

in each cross circle based on spectrum availability, while reserving a block each for

BSNL and MTNL. Besides the current players, bidding for the spectrum has been

extended to those entities eligible for UASL and with experience in operating 3G

services, including foreign players. All the operators will have to match the highest

bid in each circle, which, is likely to curb irrational bidding.

Rupee has now depreciated by 19% YTD vs. the Chinese Yuan, increasing the

competitiveness of Indian goods relative to those from China. Against the US

Dollar, it has depreciated by 11.5% YTD. These developments should help export

oriented industries.

The risk of slowdown in capex cycle and consequently the GDP growth has been a

widespread concern amongst investors and economists. Though not completely

unjustified as high interest rates do affect future projects, it’s critical to take a

balanced view and avoid exaggerated pessimism. The Q1 GDP growth was

reported at still respectable 7.9% YoY, which reflects only a modest slowdown. It

could be the time to look at early cyclicals like banking stocks whose valuations

have corrected significantly and are likely to lead the economic and perhaps the

stock market recovery.

Fiscal deficit during April to July stood at 1.16 trillion rupees, or 87% of the annual

target. India’s economy grew a slower-than-expected 7.9 percent in the June

quarter from the year earlier, easing from the previous quarter’s 8.8 percent as

industrial activity slowed due to monetary tightening.

Global Markets

The US economy out-performed the European Monetary Union (EMU) by a wide

margin in the second quarter. The US economy has revealed its edge helped by

swift US central bankers reaction to cut rates coupled with economic stimulus

packages from US government. Growth figures in US show an improvement of

3.3% growth in Q2 while Euro showed a dismal -0.2% for the same period. The

Federal bank cited exports as being a support for the weak U.S. economy. Global

markets however continue to be weighed by the residual effects of the ongoing

financial system problems while bond markets show little optimism on economic

conditions.

Outlook for bond markets:

Bond markets are expected to stay weak as outlook over inflation and liquidity

remains negative for the short term. A semblance of stability in the stock markets

could help outlook from the flows and therefore the liquidity front, but in the face of

double-digit annual inflation rate a drastic change in market conditions is not likely.

Crude oil prices have continued to decline from their peak along with added

uncertainty brought in by the Hurricane season. Lower crude prices will support the

fiscal health and thus may result in further softening of yield curve.

03

As on August 31, 2008

Birla Sun Life Equity Fund

Investment Performance

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

Portfolio

Money Market Instruments 15.12ICICI Bank Ltd. 14.65Punjab National Bank 0.47

Banks 10.00Axis Bank Ltd. 3.20HDFC Bank Ltd. 2.59ICICI Bank Ltd. 2.54Indian Bank 1.05Kotak Mahindra Bank Ltd. 0.63

Industrial Capital Goods 7.80Bharat Heavy Electricals Ltd. 2.94Crompton Greaves Ltd. 2.25Thermax Ltd. 1.43Bharat Bijlee Ltd. 1.17

Petroleum Products 7.64Reliance Industries Ltd. 7.64

Telecom-Services 7.54Bharti Airtel Ltd. 5.89Reliance Communications Ltd. 1.66

Software 6.65Infosys Technologies Ltd. 2.80Satyam Computer Services Ltd. 2.67Megasoft Ltd. 1.18

Power 5.39CESC Ltd. 1.54

GVK Power & Infrastructure Ltd. 1.48Tata Power Company Ltd. 1.40KEC International Ltd. 0.98

Consumer Non Durables 4.76ITC Ltd. 3.27Hindustan Unilever Ltd. 1.49

Oil 4.36Oil & Natural Gas Corporation Ltd. 4.36

Construction 4.27Larsen & Toubro Ltd. 2.35IVRCL Infrastructures & Projects Ltd. 1.39Gammon India Ltd. 0.52

Pharmaceuticals 3.85Ranbaxy Laboratories Ltd. 1.46Dr. Reddys Laboratories Ltd. 1.15Wockhardt Ltd. 0.63Sun Pharmaceutical Industries Ltd. 0.59Maestro Mediline Systems Ltd. 0.02

Media & Entertainment 3.81Zee Entertainment Enterprises Ltd 1.61Balaji Telefilms Ltd. 1.60Jagran Prakashan Ltd. 0.60Magnasound India Ltd. ** 0.00

Finance 3.68Housing Development Finance Corporation Ltd. 3.23

India Infoline Ltd. 0.45

Diversified 1.99United Breweries Holdings Ltd. 1.67Aditya Birla Nuvo Ltd. 0.31

Retailing 1.96Pantaloon Retail (India) Ltd. 1.96

Ferrous Metals 1.23Jindal Steel & Power Ltd. 1.23

Non - Ferrous Metals 1.21Sterlite Industries (India) Ltd. 1.21

Chemicals 0.81Bombay Dyeing & Mfg. Co. Ltd. 0.81

Auto 0.50Maruti Suzuki India Ltd. 0.50

Cement 0.12Century Textile & Industries Ltd. 0.12

Cash & Current Assets 7.31

Total Net Asset 100.00

** Represents thinly traded / non traded securities. Total outstanding exposure in derivatives as on August 29, 2008 is Rs.86.01 Crores (Notional value).

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Equity Fund...

Systematic Investment Plan (SIP)

Asset Allocation

Date of First Installment : October 1, 1998

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future.

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

An open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities.

Investment Objective

Date of inception : August 27, 1998

Fund Manager : Mr. Mahesh Patil

NAV : Rs.

Growth : 190.07

Dividend : 61.24

Load Structure :

Entry Load* (For SIP) : NilEntry Load* (Except SIP) : < Rs. 5 crores - 2.25%

³ Rs. 5 crores - Nil

Exit Load** (For SIP) : Redeemed / switched out within 24 months: 2.25%

Exit Load** (Except SIP) : < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil

Benchmark : BSE 200

Investment Style Box

Investment Period

Total Investment

(Rs.)

Value (Rs.) of SIP in Returns (%)*

Birla Sun Life Equity

Fund

Birla Sun Life Equity

Fund

BSE200

BSE200

Value Blend Growth Size

Large

Mid

Small

Investment Style

Since Inception 119000 363220 600457 21.35 30.75

Last 5 years 60000 98531 114616 19.97 26.26

Last 3 years 36000 41009 40195 8.67 7.31

Last 1 year 12000 10287 9908 -25.54 -30.87

Issuer % to NetAssets



Birla Sun Life Equity Fund - Growth BSE 200

% R

etu

rns

(Past performance is no guarantee of future results.) for ranking methodology please refer page 42

*For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Average AUM : Rs. 1,052.80 Crs.

04

CRISIL~CPR 1^^Birla Sun Life Equity Fund

Consistent CPR Performer - Equity ( Schemes), 5 24 Yrs ended 30-June-08

S e p t e m b e r 2 0 0 8

3.68%

3.81%

3.85%

4.27%

4.36%

4.76%

5.39%

6.65%

7.31%

7.54%

7.64%

7.80%

7.83%

10.00%

15.12%

Finance

Media & Entertainment

Pharmaceuticals

Construction

Oil

Consumer Non Durables

Power

Software

Cash & Current Assets

Telecom-Services

Petroleum Products

Industrial Capital Goods

Other Equity

Banks

Money Market Instruments

-10.43

21.39

37.57

34.19

-4.08

20.77

26.36

19.06

-20

-10

0

10

20

30

40

1 Year

3 Years 5 Years Since Inception

Birla Sun Life Midcap Fund




Portfolio

Money Market Instruments 17.65ICICI Bank Ltd. 11.14State Bank of Patiala 6.51

Consumer Non Durables 13.70ITC Ltd. 3.86Marico Ltd. 2.86Shaw Wallace Company Ltd. 2.57Balrampur Chini Mills Ltd. 2.37Asian Paints (India) Ltd. 1.18Colgate-Palmolive (India) Ltd. 0.84

Industrial Capital Goods 9.51Havells India Ltd. 2.29Thermax Ltd. 1.95Jyoti Structures Ltd. 1.66Bharat Bijlee Ltd. 1.25Bharati Shipyard Ltd. 1.23Crompton Greaves Ltd. 1.12

Banks 7.58Union Bank of India 2.83Indian Overseas Bank 1.56ING Vysya Bank Ltd. 1.47Axis Bank Ltd. 0.97Bank of India 0.75

Construction 6.43Simplex Infrastructures Ltd. 3.24IVRCL Infrastructures & Projects Ltd. 2.91Akruti City Ltd. 0.27

Power 5.10GVK Power & Infrastructure Ltd. 2.08

Tata Power Company Ltd. 1.82CESC Ltd. 1.20

Ferrous Metals 4.70Monnet Ispat Ltd. 3.41Welspun Gujarat Stahl Rohren Ltd. 1.29

Chemicals 4.26Solar Explosives Ltd. 4.26

Fertilisers 4.06Tata Chemicals Ltd. 4.06

Pharmaceuticals 3.62Glenmark Pharmaceuticals Ltd. 2.94Lupin Ltd. 0.68

Non - Ferrous Metals 3.31Nava Bharat Ventures Ltd. 3.31

Industrial Products 2.97Sintex Industries Ltd. 2.97

Diversified 2.49Aditya Birla Nuvo Ltd. 2.49

Auto 2.32Ashok Leyland Ltd. 2.32

Software 2.20Tech Mahindra Ltd. 1.42Tata Consultancy Services Ltd. 0.78

Transportation 1.92Great Eastern Shipping Company Ltd. 1.92

Consumer Durables 1.63Blue Star Ltd. 1.63


Media & Entertainment 1.59Balaji Telefilms Ltd. 1.59

Textile Products 1.21Raymond Ltd. 1.21

Auto Ancillaries 0.76Exide Industries Ltd. 0.76

Trading 0.25Adani Enterprises Ltd. 0.25

Hotels 0.19Indian Hotels Co. Ltd. 0.19

Corporate Debt 0.12Trent Ltd. ** 0.12



SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Midcap Fund…


Asset Allocation

Date of First Installment - November 1, 2002.



An open-ended growth scheme with the objective to achieve long-term growth of capital at controlled level of risk by primarily investing in midcap stocks.


Date of inception : October 3, 2002

Fund Manager : Mr. A. Balasubramaniam & Mr. Sanjay Chawla

NAV : Rs.

Growth : 70.40

Dividend : 19.51

Benchmark : CNX Midcap


Investment Period

Total Investment

(Rs.)


Birla Sun Life Midcap

Fund

Birla Sun Life Midcap

Fund

CNX Midcap

CNX Midcap

Since Inception 70000 153483 174665 26.98 31.55

Last 5 years 60000 98936 110975 20.14 24.90

Last 3 years 36000 40135 40614 7.21 8.02

Last 1 year 12000 10172 9959 -27.18 -30.15


Large

Mid

Small

Investment Style

Load Structure (Incl. for SIP):

Entry Load* :< Rs. 5 crores - 2.25%


Exit Load** :< Rs. 5 crores - 1% if redeemed

/ switched out within 12 months





Birla Sun Life Midcap Fund - Growth CNX Midcap

% R

etu

rns

** Represents thinly traded / non traded securities. Total Percentage of thinly/non traded securities is 0.12%.

Average AUM: Rs. 519.27 Crores

05


S e p t e m b e r 2 0 0 8

0.12%

0.82%

2.20%

2.32%

2.49%

2.97%

3.31%

3.62%

4.06%

4.26%

4.70%

5.10%

6.43%

7.58%

9.18%

9.51%

13.70%

17.65%

Corporate Debt


Software

Auto

Diversified

Industrial Products

Non - Ferrous Metals

Pharmaceuticals

Fertilisers

Chemicals

Ferrous Metals

Power

Construction

Banks

Other Equity




-9.56

20.55

35.4839.13

-5.72

15.89

28.93

36.67

-20

-10

0

10

20

30

40

50

1 Year


Birla Sun Life Frontline Equity Fund




Portfolio

Money Market Instruments 11.29ICICI Bank Ltd. 9.26Punjab National Bank 2.03

Banks 11.23Axis Bank Ltd. 3.02HDFC Bank Ltd. 2.97ICICI Bank Ltd. 2.17ING Vysya Bank Ltd. 1.92Union Bank of India 1.17

Petroleum Products 10.14Reliance Industries Ltd. 7.29Indian Oil Corporation Ltd. 1.58Reliance Petroleum Ltd. 1.28

Software 8.29Infosys Technologies Ltd. 4.44Satyam Computer Services Ltd. 2.53Tata Consultancy Services Ltd. 1.32

Industrial Capital Goods 7.88Bharat Heavy Electricals Ltd. 3.19Crompton Greaves Ltd. 2.60Bharat Electronics Ltd. 1.25Thermax Ltd. 0.84

Telecom-Services 7.28Bharti Airtel Ltd. 4.88

Reliance Communications Ltd. 1.36Spice Communications Ltd. 1.04

Consumer Non Durables 5.42ITC Ltd. 3.14United Spirits Ltd. 2.28

Finance 4.96Housing Development Finance Corp. Ltd. 2.10Power Finance Corporation Ltd 1.72Rural Electrification Corporation Ltd 0.59ICRA Ltd. 0.55


Pharmaceuticals 4.33Cipla Ltd. 1.67Dr. Reddys Laboratories Ltd. 1.39Ranbaxy Laboratories Ltd. 1.27

Media & Entertainment 4.15Zee Entertainment Enterprises Ltd 2.33Television Eighteen India Ltd. 1.17Balaji Telefilms Ltd. 0.65

Power 3.46Tata Power Company Ltd. 1.63GVK Power & Infrastructure Ltd. 0.96

CESC Ltd. 0.87

Construction 3.44Larsen & Toubro Ltd. 1.88IVRCL Infrastructures & Projects Ltd. 1.56

Ferrous Metals 2.56Sesa Goa Ltd. 1.52Jindal Steel & Power Ltd. 1.04

Gas 2.04GAIL (India) Ltd. 2.04


Non - Ferrous Metals 1.28Hindalco Industries Ltd. 1.18Hindalco Industries Ltd.- Rights** 0.11




SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Frontline Equity Fund...


Asset Allocation




An open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity by aiming at being as diversified across various industries and or sectors as its chosen benchmark index, BSE 200.


Date of inception : August 30, 2002


NAV : Rs.

Growth : 56.99

Dividend : 18.09

Benchmark : BSE 200


Investment Period

Total Investment

(Rs.)


Birla Sun Life Frontline

Equity Fund

Birla Sun Life Frontline

Equity Fund

BSE200

BSE200


Large

Mid

Small

Investment Style

Since Inception 71000 148870 172332 25.02 30.09

Last 5 Years 60000 98531 111900 19.97 25.25

Last 3 years 36000 41009 43585 8.67 12.86

Last 1 year 12000 10287 10536 -25.54 -21.99

#iiiValue Research Ratingi

Birla Sun Life Frontline Equity FundEquity: Diversified ( Schemes), 5 217 Yrs ended 31-Aug-08


Load Structure (Incl. for SIP):Entry Load* :< Rs. 5 crores - 2.25%

³ Rs. 5 crores - NilExit Load**:< Rs. 5 crores - 1% if redeemed

/ switched out within 12 months ³ Rs. 5 crores - Nil




Birla Sun Life Frontline Equity Fund - Growth BSE 200

% R

etu

rns

** Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 0.11%. Total outstanding exposure in derivatives as on August 29, 2008 is Rs.17.44 Crores (Notional value).

&&CNBC TV-18 CRISIL AWARD 2007Birla Sun Life Frontline Equity Fund

Category: Large Cap oriented Equity Fund 1 yr performance ended 31 Dec, ‘07 Total Schemes in Category = 22

Average AUM: Rs. 412.48 Crores

06


CRISIL~CPR 2^^Birla Sun Life Frontline Equity Fund

Diversified Equity Scheme ( Schemes), 2 87 Yrs ended 30-June-08

S e p t e m b e r 2 0 0 8

2.04%

2.56%

3.44%

3.46%

3.55%

4.15%

4.33%

4.34%

4.96%

5.42%

5.63%

7.28%

7.88%

8.29%

10.14%

11.23%

11.29%

-2.16

26.08

31.5233.63

-4.08

20.77

26.36

29.49

-10

-5

0

5

10

15

20

25

30

35

40

1 Year



Banks

Petroleum Products

Software


Telecom Services



Finance

Oil

Pharmaceuticals


Other Equity

Power

Construction

Ferrous Metals

Gas

Birla Sun Life Tax Relief '96An open-ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years



Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Returns assume reinvestment of the tax free dividend declared.

Portfolio

Banks 12.85ICICI Bank Ltd. 3.59HDFC Bank Ltd. 2.92ING Vysya Bank Ltd. 2.74Axis Bank Ltd. 2.21Kotak Mahindra Bank Ltd. 1.39

Finance 12.50Housing Development Finance Corporation Ltd. 3.98ICRA Ltd. 3.54Reliance Capital Ltd. 2.73India Infoline Ltd. 2.26

Industrial Capital Goods 11.42Bharat Heavy Electricals Ltd. 4.17Honeywell Automation India Ltd. 2.38Crompton Greaves Ltd. 2.30Bharat Bijlee Ltd. 1.44Siemens Ltd. 1.13


Construction 5.54Larsen & Toubro Ltd. 5.54

Power 5.14Reliance Infrastructure Ltd. 3.78

GVK Power & Infrastructure Ltd. 1.36

Money Market Instruments 4.69Reliance Capital Ltd. 4.24Punjab National Bank 0.45


Ferrous Metals 4.09Jindal Steel & Power Ltd. 2.82Tata Steel Ltd. 1.27

Auto Ancillaries 3.66Bosch Chassis Systems India Ltd. 2.61MRF Ltd. 1.05

Consumer Non Durables 2.84Shaw Wallace Company Ltd. 1.99Radico Khaitan Ltd 0.85

Media & Entertainment 2.77Television Eighteen India Ltd. 2.77Magnasound India Ltd. ** 0.00

Hotels 2.70Asian Hotels Ltd. 1.61Taj GVK Hotels & Resorts Ltd. 1.10

Auto 2.67Maruti Suzuki India Ltd. 1.69Mahindra & Mahindra Ltd. 0.98

Diversified 2.64United Breweries Holdings Ltd. 2.64

Pesticides 2.56United Phosphorus Ltd. 2.56

Industrial Products 2.44Cummins India Ltd. 2.44

Software 2.43Infosys Technologies Ltd. 1.71Tata Consultancy Services Ltd. 0.71

Consumer Durables 1.29Blue Star Ltd. 1.29

Trading 0.71Uniphos Enterprises Ltd. 0.71



** Represents thinly traded / non-traded securities.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Relief '96...


Asset Allocation

Date of First Installment : April 1, 1996



An open-ended equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities


Date of inception : March 29, 1996

Fund Manager : Mr. Ajay Garg

NAV : Rs.

Growth* : 8.33

Dividend : 70.76*Introduced with effect from 06/03/08

Load Structure (Incl. for SIP):Entry Load* : < Rs. 5 crores - 2.25%

³ Rs. 5 crores - NilExit Load : NIL

Benchmark : BSE 200 Average AUM: Rs. 584.11 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life Tax

Relief '96

Birla Sun Life Tax

Relief '96

BSE200

BSE200


Large

Mid

Small

Investment Style

Since Inception 149000 514913 1439972 18.51 33.14

Last 5 years 60000 98531 95811 19.97 18.82

Last 3 years 36000 41009 38780 8.67 4.91

Last 1 year 12000 10287 9562 -25.54 -35.60




Birla Sun Life Tax Relief ‘96 - Dividend BSE 200

Ranked 3rd among Top Performing Equity&Funds in the World by Lipper

Birla Sun Life Tax Relief '96Equity Funds (6302 funds), 10 yrs ended 31 Dec 07


% R

etu

rns

07

*For direct application: Entry Load is Nil.

S e p t e m b e r 2 0 0 8

-10.52

17.66

26.53

31.00

-4.08

20.77

26.36

14.11

-15

-10

-5

0

5

10

15

20

25

30

35

1 Year


2.01%

2.43%

2.44%

2.56%

2.64%

2.67%

2.70%

2.77%

2.84%

3.66%

4.09%

4.34%

4.56%

4.69%

5.14%

5.54%

8.15%

11.42%

12.50%

12.85%

Other Equity

Software

Industrial Products

Pesticides

Diversified

Auto

Hotels



Auto Ancillaries

Ferrous Metals

Telecom-Services



Power

Construction

Petroleum Products


Finance

Banks

Birla Sun Life Infrastructure Fund




Portfolio

Money Market Instruments 16.14State Bank of Patiala 16.14

Industrial Capital Goods 13.39Bharat Heavy Electricals Ltd. 3.55Crompton Greaves Ltd. 2.95Thermax Ltd. 2.55Bharati Shipyard Ltd. 1.75Bharat Electronics Ltd. 1.31Jyoti Structures Ltd. 1.29

Banks 8.65Axis Bank Ltd. 2.78ICICI Bank Ltd. 2.02HDFC Bank Ltd. 1.80Kotak Mahindra Bank Ltd. 1.13South Indian Bank Ltd. 0.91

Power 7.85CESC Ltd. 2.56KEC International Ltd. 1.59Tata Power Company Ltd. 1.24GVK Power & Infrastructure Ltd. 1.14Kalpataru Power Transmission Ltd. 1.02Power Trading Corporation of India Ltd. 0.32


Finance 6.54Housing Development Finance Corporation Ltd. 3.94Power Finance Corporation Ltd 2.58Octav Investments Ltd. 0.01

Construction 6.17Larsen & Toubro Ltd. 2.27IVRCL Infrastructures & Projects Ltd. 1.45Madhucon Projects Ltd. 1.26ITD Cementation India Ltd. 0.95Nagarjuna Construction Co. Ltd. 0.25

Industrial Products 5.51Kirloskar Oil Engines Ltd. 2.27Sintex Industries Ltd. 1.67Finolex Cables Ltd. 1.05Torrent Cables Ltd. 0.52

Oil 5.24Oil & Natural Gas Corporation Ltd. 3.66Aban Offshore Ltd. 1.57


Ferrous Metals 5.08Jindal Steel & Power Ltd. 2.96Maharashtra Seamless Ltd. 1.41

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Infrastructure Fund...


Asset Allocation




An open-ended growth scheme with the objective to providing for medium to long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of companies that are participating in the growth and development of Infrastructure in India.


Date of inception : March 17, 2006


NAV : Rs.

Growth : 12.45

Dividend : 11.56

Benchmark :S&P CNX NIFTY

Average AUM : Rs. 429.50 Crs


Investment Period

Total Investment

(Rs.)


Birla Sun Life Infrastructure

Fund

Birla Sun Life Infrastructure

Fund

S&P CNX NIFTY

S&P CNX NIFTY


Large

Mid

Small

Investment Style

Since Inception 29000 30520 28534 4.16 -1.30

Last 1 year 12000 10511 9676 -22.34 -34.05




% R

etu

rns

Birla Sun Life Infrastructure Fund - Growth S&P CNX Nifty

Jindal Saw Ltd. 0.71

Gas 2.38Gujarat Gas Company Ltd. 1.82GAIL (India) Ltd. 0.56

Transportation 2.24Gateway Distriparks Ltd. 1.54Arshiya International Ltd 0.70

Consumer Durables 1.32Voltas Ltd. 1.32

Hotels 0.65Taj GVK Hotels & Resorts Ltd. 0.65


Consumer Non Durables 0.21Hindustan Sanitaryware & Industries Ltd. 0.21



Total outstanding exposure in derivatives as on August 29, 2008 is Rs 39.13 Crores (Notional value).

&&CNBC TV-18 CRISIL AWARD 2007

Birla Sun Life Infrastructure Fund – GrowthEmerging Equity Fund of the Year

1 yr performance ended 31 Dec, ‘07. Total Schemes in Category = 14(Past performance is no guarantee of future results.) for ranking methodology please refer page 4208


Load Structure :





CRISIL~CPR 2^^Birla Sun Life Infrastructure Fund

Diversified Equity Scheme 87 Yrs ended 30-June-08 ( Schemes), 2

S e p t e m b e r 2 0 0 8

2.24%

2.38%

2.48%

5.08%

5.19%

5.24%

5.51%

6.17%

6.18%

6.54%

6.96%

7.85%

8.65%

13.39%

16.14%

Transportation

Gas

Other Equity

Ferrous Metals

Telecom-Services

Oil

Industrial Products

Construction


Finance

Petroleum Products

Power

Banks



-13.92

9.34

-2.34

12.94

-20

-15

-10

-5

0

5

10

15

1 Year

Since Inception

Birla Sun Life Basic Industries Fund




Portfolio

Money Market Instruments 18.54State Bank of Patiala 16.80Housing Development Finance Corporation Ltd. 1.73

Petroleum Products 14.11Reliance Industries Ltd. 7.78Apar Industries Ltd. 3.11Indian Oil Corporation Ltd. 1.29Bharat Petroleum Corporation Ltd. 1.06Reliance Petroleum Ltd. 0.88

Industrial Capital Goods 12.64Bharat Heavy Electricals Ltd. 2.87Crompton Greaves Ltd. 2.11Bharati Shipyard Ltd. 1.94Jyoti Structures Ltd. 1.38Thermax Ltd. 1.24Voltamp Transformers Ltd. 1.09Elecon Engineering Ltd. 0.88Suzlon Energy Ltd. 0.82Bharat Bijlee Ltd. 0.30

Ferrous Metals 9.37Jindal Steel & Power Ltd. 3.48Maharashtra Seamless Ltd. 2.26Jindal Saw Ltd. 2.11Tata Steel Ltd. 1.05Tata Sponge Iron Ltd. 0.46

Banks 8.82ICICI Bank Ltd. 3.52Bank of Baroda 2.47Union Bank of India 1.67Axis Bank Ltd. 1.16

Construction 5.97IVRCL Infrastructures & Projects Ltd. 2.17Larsen & Toubro Ltd. 2.03Punj Lloyd Ltd. 0.92Nagarjuna Construction Company Ltd. 0.85

Finance 4.34Housing Development Finance Corporation Ltd. 4.34

Industrial Products 3.96Sintex Industries Ltd. 2.71TRF Ltd. 0.69Carborundum Universal Ltd. 0.56

Oil 3.60Oil & Natural Gas Corporation Ltd. 1.98Cairn India Ltd. 1.62

Fertilisers 2.64Tata Chemicals Ltd. 1.47Chambal Fertilizers & Chemicals Ltd. 1.16

Power 2.43Tata Power Company Ltd. 2.43

Mining 2.20Gujarat NRE Coke Ltd 2.20


Transportation 1.39Gateway Distriparks Ltd. 1.39

Auto Ancillaries 1.22Exide Industries Ltd. 1.22

Paper 1.01Ballarpur Industries Ltd. 1.01

Consumer Non Durables 0.80Mcleod Russel India Ltd. 0.80



SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Basic Industries Fund...


Asset Allocation

Date of First Installment : March 01, 2000

The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes

are not considered for computation of returns. Past performance may or may not be sustained in future.

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

of return)

A multi-sector open-ended growth scheme with the objective of long term growth capital, through a portfolio with a target allocation of 100% equity, focusing on investing in companies sensitive to economic cycles andcommodity pricing cycles. The investments will be in companies which are often referred to as cyclical companies.


Date of inception : January 15, 2000

Fund Manager : Mr. Ankit Sancheti

NAV : Rs.

Growth : 73.86

Dividend : 28.63

Benchmark : BSE 200 Average AUM : Rs. 116.23 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life Basic Indus-

tries Fund

Birla Sun Life Basic Indus-

tries Fund

BSE200

BSE200


Large

Mid

Small

Investment Style

Since Inception 102000 286149 424473 23.41 32.30

Last 5 years 60000 98531 99243 19.97 20.27

Last 3 years 36000 41009 39399 8.67 5.97

Last 1 year 12000 10287 9826 -25.54 -31.99




Birla Sun Life Basic Industries - Growth BSE 200

% R

etu

rns

Load Structure (Incl. for SIP)Entry Load*:< Rs. 5 crores - 2.25%



for ranking methodology please refer page 42(Past performance is no guarantee of future results.)

09


Total outstanding exposure in derivatives as on August 29, 2008 is Rs.14.01 Crores (Notional value).

CRISIL~CPR 2^^Birla Sun Life Basic Industries Fund

Diversified Equity Scheme 87 Yrs ended 30-June-08 ( Schemes), 2

S e p t e m b e r 2 0 0 8

2.20%

2.43%

2.64%

3.60%

3.96%

4.34%

5.27%

5.97%

6.10%

8.82%

9.37%

12.64%

14.11%

18.54%

Mining

Power

Fertilisers

Oil

Industrial Products

Finance


Construction

Other Equity

Banks

Ferrous Metals


Petroleum Products


-7.91

20.20

30.18

26.08

-4.08

20.77

26.36

13.13

-10

-5

0

5

10

15

20

25

30

35

1 Year


Birla Sun Life India GenNext Fund




Portfolio

Consumer Non Durables 32.28

Hindustan Unilever Ltd. 6.39

ITC Ltd. 5.89

Glaxosmithkline Consumer Healthcare Ltd. 5.52

Asian Paints (India) Ltd. 4.04

Colgate-Palmolive (India) Ltd. 4.02

Dabur India Ltd. 3.83

Nestle India Ltd. 1.55

Radico Khaitan Ltd 1.03

Banks 11.48

Federal Bank Ltd. 4.89

Axis Bank Ltd. 4.24

ING Vysya Bank Ltd. 2.36

Pharmaceuticals 8.93

Sun Pharmaceutical Industries Ltd. 6.17

Glaxosmithkline Pharmaceuticals Ltd. 2.76

Money Market Instruments 8.74

State Bank of Patiala 8.74

Finance 6.97

Housing Development Finance Corporation Ltd. 6.97

Media & Entertainment 5.65

Zee Entertainment Enterprises Ltd. 3.57

Television Eighteen India Ltd. 2.06

Jagran Prakashan Ltd. 0.02

Software 4.53

Everonn Systems India Ltd. 2.40

Educomp Solutions Ltd. 1.11

Core Projects & Technologies Ltd 1.02

Telecom-Services 4.38

Bharti Airtel Ltd. 2.45

Reliance Communications Ltd. 1.93

Consumer Durables 4.09

Bajaj Electricals Ltd. 4.09

Textile Products 2.97

Raymond Ltd. 2.97

Retailing 2.36

Pantaloon Retail (India) Ltd. 2.36

Auto 2.05

Bajaj Auto Ltd. 2.05

Hotels 2.04

Country Club India Ltd. 2.04






SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life India GenNext Fund...


Asset Allocation

Date of First Installment : September 1, 2005



An open-ended growth scheme with the objective to target growth of capital by investing in equity/equity related instruments of companies that are expected to benefit from the rising consumption patterns in India, which in turn is getting fuelled by high disposable incomes of the young generation (Generation Next). The scheme

will invest in companies that have the following characteristics: 1. Companies that seek growth in revenues arising out of demand from the younger generation (GenNext) for their products or services. 2. They should be engaged in manufacturing of products or rendering of services that go directly to the consumer. 3. The products and services should have distinct brand identity, thereby enabling choice.

Investment ObjectiveInvestment Style Box

Investment Period

Total Investment

(Rs.)


Birla Sun Life India GenNext

Fund

Birla Sun Life India GenNext

Fund

S&P CNX NIFTY

S&P CNX NIFTY

Since Inception 36000 41809 39424 9.99 6.01

Last 1 year 12000 10511 10485 -22.34 -22.71Date of inception : August 05, 2005

Fund Manager : Mr. A. Balasubramaniam & Mr. Sanjay Chawla

NAV : Rs.

Growth : 16.32

Dividend : 13.52

Benchmark : S&P CNX NIFTY Average AUM : Rs. 101.67 Crores


Large

Mid

Small

Investment Style




Birla Sun Life India GenNext Fund - Growth S&P CNX Nifty

% R

etu

rns

10


S e p t e m b e r 2 0 0 8

2.04%

2.05%

2.36%

2.97%

3.53%

4.09%

4.38%

4.53%

5.65%

6.97%

8.74%

8.93%

11.48%

32.28%

Hotels

Auto

Retailing

Textile Products


Consumer Durables

Telecom-Services

Software


Finance


Pharmaceuticals

Banks


-6.57

16.6417.31

-2.34

22.30 22.12

-10

-5

0

5

10

15

20

25

1 Year

3 Years Since Inception


Birla Sun Life Advantage Fund



Portfolio

Banks 11.79HDFC Bank Ltd. 2.48Axis Bank Ltd. 2.37State Bank of India 2.36Kotak Mahindra Bank Ltd. 1.70Bank of India 1.70Punjab National Bank 0.63Union Bank of India 0.55

Petroleum Products 10.29Reliance Industries Ltd. 6.78Indian Oil Corporation Ltd. 2.32Bharat Petroleum Corporation Ltd. 1.18

Software 7.67Infosys Technologies Ltd. 4.27Core Projects & Technologies Ltd 1.71Satyam Computer Services Ltd. 1.69

Telecom-Services 7.53Bharti Airtel Ltd. 3.84Reliance Communications Ltd. 1.92Idea Cellular Ltd. 1.77

Consumer Non Durables 7.48United Spirits Ltd. 2.92Balrampur Chini Mills Ltd. 1.99ITC Ltd. 1.98Eveready Industries India Ltd. 0.58

Industrial Capital Goods 7.21Bharat Heavy Electricals Ltd. 3.15

Bharat Electronics Ltd. 1.56Thermax Ltd. 1.43Bharati Shipyard Ltd. 1.08

Pharmaceuticals 6.14Glenmark Pharmaceuticals Ltd. 2.41Cipla Ltd. 2.38Ranbaxy Laboratories Ltd. 1.35

Finance 6.01Housing Development Finance Corp. Ltd. 3.79Reliance Capital Ltd. 2.22

Construction 4.44Larsen & Toubro Ltd. 4.36Dharti Dredging & Construction Ltd. ** 0.09

Ferrous Metals 4.36Jindal Steel & Power Ltd. 2.23Welspun Gujarat Stahl Rohren Ltd. 2.13

Non - Ferrous Metals 3.97Sterlite Industries (India) Ltd. 2.44Hindalco Industries Ltd. 1.40Hindalco Industries Ltd.- Rights** 0.13

Diversified 3.37Aditya Birla Nuvo Ltd. 2.82United Breweries Holdings Ltd. 0.55

Money Market Instruments 2.67Tata Sons Ltd. 2.67

Auto 2.02Hero Honda Motors Ltd. 2.02


Power 1.60Reliance Infrastructure Ltd. 1.60


Media & Entertainment 1.09Television Eighteen India Ltd. 1.09

Oil 1.07Aban Offshore Ltd. 1.07


Heavy Electrical Equipment 0.59Emco Ltd. 0.59



**Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 0.22%. Total outstanding exposure in derivatives as on August 29, 2008 is Rs.10.38 Crores (Notional value).




SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Advantage Fund...


Asset Allocation




An open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk through a diversified research based investment approach.


Date of inception : February 24, 1995

Fund Manager : Mr. A. Balasubramaniam

NAV : Rs.

Growth : 116.69

Dividend : 79.59

Benchmark : BSE Sensex Average AUM : Rs. 375.79 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life

Advantage Fund

Birla Sun Life

Advantage Fund

BSESensex

BSESensex

Since Inception 162000 521055 927280 15.98 23.41

Last 5 years 60000 102664 89892 21.67 16.21

Last 3 years 36000 41643 36618 9.23 0.10

Last 1 year 12000 10439 9756 -23.38 -32.96


Large

Mid

Small

Investment Style

Birla Sun Life Advantage Fund - Growth BSE Sensex

% R

etu

rns

Load Structure (Incl. for SIP)Entry Load*:< Rs. 5 crores - 2.25%



11


S e p t e m b e r 2 0 0 8

2.02%

2.67%

3.37%

3.97%

4.36%

4.44%

6.01%

6.14%

6.74%

7.21%

7.48%

7.53%

7.67%

8.30%

10.29%

11.79%

Auto


Diversified


Ferrous Metals

Construction

Finance

Pharmaceuticals




Telecom-Services

Software

Other Equity

Petroleum Products

Banks

-14.02

15.36

26.44

20.66

-4.94

23.14

27.93

11.23

-20

-15

-10

-5

0

5

10

15

20

25

30

35

1 Year


Birla Sun Life Tax Plan”An open-ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years




Portfolio


Tata Tea Ltd. 5.03

ITC Ltd. 3.72

Ruchi Soya Industries Ltd. 1.73

Banks 8.36

Federal Bank Ltd. 3.39

HDFC Bank Ltd. 3.03

State Bank of India 1.94

Industrial Capital Goods 7.87

Siemens Ltd. 2.90

Bharat Electronics Ltd. 1.83

Bharat Heavy Electricals Ltd. 1.62

Bharat Bijlee Ltd. 1.53

Petroleum Products 7.59

Reliance Industries Ltd. 7.59



Ranbaxy Laboratories Ltd. 1.23

Ferrous Metals 5.92

Tata Steel Ltd. 2.13

Maharashtra Seamless Ltd. 1.90

Welspun Gujarat Stahl Rohren Ltd. 1.89

“Name of the scheme has been changed w.e.f. 23/06/08. Erstwhile: Birla Equity Plan

Industrial Products 4.70

TRF Ltd. 2.59

Kirloskar Oil Engines Ltd. 2.11

Minning 3.91

Resurgere Mines & Minerals India Ltd. 3.91

Construction 3.85

JMC Projects India Ltd. 2.12

Larsen & Toubro Ltd. 1.74

Power 3.74

Tata Power Company Ltd. 3.74

Fertilisers 3.62

Tata Chemicals Ltd. 3.62



Oil 3.23

Oil & Natural Gas Corporation Ltd. 3.23

Diversified 3.10

Aditya Birla Nuvo Ltd. 3.10

Chemicals 2.83

Solar Explosives Ltd. 2.83



Transportation 2.37

Mundra Port and Special Economic Zone Ltd. 2.37

Auto Ancillaries 2.36

Goodyear India Ltd. 2.36

Retailing 2.29

Pantaloon Retail (India) Ltd. 2.29

Software 2.07

Infosys Technologies Ltd. 2.07

Finance 1.45

Infrastructure Development Finance Company Ltd. 1.45

Auto 1.43

Bajaj Auto Ltd. 1.43






SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Plan…


Asset Allocation

Date of First Installment : March 01,1999



An open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment.



Fund Manager : Mr. Sanjay Chawla

NAV : Rs.

Growth* : 10.72

Dividend : 51.02

*Introduced with effect from 01/10/06

Load Structure :Entry Load* (Except SIP) : < Rs. 5 crores - 2.25%

³ Rs. 5 crores - NilEntry Load* (For SIP) : NILExit Load (Incl. for SIP) : NIL

Benchmark : BSE Sensex Average AUM : Rs. 127.36 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life Tax

Plan

Birla Sun Life Tax

Plan

BSESensex

BSESensex

Since Inception 114000 315945 455915 20.48 27.70

Last 5 years 60000 102664 97113 21.67 19.37

Last 3 years 36000 41344 36909 9.23 1.63

Last 1 year 12000 10439 9873 -23.38 -31.35


Large

Mid

Small

Investment Style

Birla Sun Life Tax Plan - Dividend BSE Sensex

% R

etu

rns

12

*For direct application: Entry Load is Nil.

S e p t e m b e r 2 0 0 8

2.07%

2.29%

2.36%

2.37%

2.66%

2.83%

2.88%

3.10%

3.23%

3.43%

3.62%

3.74%

3.85%

3.91%

4.70%

5.92%

6.07%

6.65%

7.59%

7.87%

8.36%

10.49%

Software

Retailing

Auto Ancillaries

Transportation

Telecom-Services

Chemicals

Other Equity

Diversified

Oil


Fertilisers

Power

Construction

Minning

Industrial Products

Ferrous Metals

Pharmaceuticals


Petroleum Products


Banks


-13.30

13.78

27.68

23.61

-4.94

23.14

27.93

16.67

-20

-15

-10

-5

0

5

10

15

20

25

30

1 Year


Birla Sun Life Index Fund


Portfolio

Petroleum Products 11.58Reliance Industries Ltd. 9.17Reliance Petroleum Ltd. 2.09Bharat Petroleum Corporation Ltd. 0.32

Software 8.46Infosys Technologies Ltd. 2.95Tata Consultancy Services Ltd. 2.35Wipro Ltd. 1.87Satyam Computer Services Ltd. 0.83HCL Technologies Ltd. 0.46

Telecom-Services 8.09Bharti Airtel Ltd. 4.70Reliance Communications Ltd. 2.41Idea Cellular Ltd. 0.64Tata Communications Ltd. 0.35

Oil 7.77Oil and Natural Gas Corporation Ltd. 6.46Cairn India Ltd. 1.30

Power 6.79NTPC Ltd. 4.26Power Grid Corporation of India Ltd. 1.16Reliance Infrastructure Ltd. 0.69Tata Power Company Ltd. 0.68

Banks 6.62State Bank of India 2.62

ICICI Bank Ltd. 2.21HDFC Bank Ltd. 1.34Punjab National Bank 0.45

Construction 5.49DLF Ltd. 2.49Larsen & Toubro Ltd. 2.24Unitech Ltd. 0.76

Industrial Capital Goods 4.53Bharat Heavy Electricals Ltd. 2.47Suzlon Energy Ltd. 0.97ABB Ltd. 0.55Siemens Ltd. 0.55

Consumer Durables 3.68ITC Ltd. 2.10Hindustan Unilever Ltd. 1.59

Ferrous Metals 3.20Steel Authority of India Ltd. 1.90Tata Steel Ltd. 1.30

Non-Ferrous Metals 2.54Sterlite Industries (India) Ltd. 1.32National Aluminium Company Ltd. 0.74Hindalco Industries Ltd. 0.44Hindalco Industries Ltd. - Right Shares** 0.04

Pharmaceuticals 2.29Sun Pharmaceutical Industries Ltd. 0.87Ranbaxy Laboratories Ltd. 0.57Cipla Ltd. 0.56Dr. Reddys Laboratories Ltd. 0.29

Auto 1.96Maruti Udyog Ltd. 0.55Tata Motors Ltd. 0.50Hero Honda Motors Ltd. 0.49Mahindra & Mahindra Ltd. 0.42

Finance 1.95Housing Development Finance Corporation. Ltd. 1.95

Cement 1.20Grasim Industries Ltd. 0.53Ambuja Cements Ltd. 0.36The Associated Cement Companies Ltd. 0.31

Gas 0.99GAIL India Ltd. 0.99

Media & Entertainment 0.28Zee Entertainment Enterprises Ltd. 0.28






** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 0.04%. Total outstanding exposure in derivatives as on August 29, 2008 is Rs.7.63 Crores (Notional value).

Asset AllocationInvestment Performance


Birla Sun Life Index Fund - Growth S&P CNX Nifty

% R

etu

rns

An open-ended index-linked growth scheme with the objective to generate returns commensurate with the performance of Nifty subject to tracking errors.


Date of inception : September 18, 2002


NAV : Rs.

Growth : 43.66

Dividend : 16.90

Load Structure (Incl. for SIP) Entry Load : NIL

Exit Load :

Exit Load : NIL

< Rs. 5 crores -1% if redeemed / switched out within 15 days ³ Rs. 5 crores - Nil

Benchmark : S & P CNX Nifty Average AUM : Rs. 34.71 Crores


SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Index Fund…




Investment Period

Total Investment

(Rs.)


Birla Sun Life Index

Fund

Birla Sun Life Index

Fund

S&P CNX NIFTY

S&P CNX NIFTY

Since Inception 71000 146427 142638 24.45 23.54

Last 5 years 60000 100111 97538 20.63 19.55

Last 3 years 36000 41809 41067 9.99 8.77

Last 1 year 12000 102664 89892 21.67 16.21



Large

Mid

Small

Investment Style

13

S e p t e m b e r 2 0 0 8

2.29%

2.54%

3.20%

3.68%

4.53%

5.49%

6.38%

6.62%

6.79%

7.77%

8.09%

8.46%

11.58%

22.58%

Pharmaceuticals

Non-Ferrous Metals

Ferrous Metals

Consumer Durables


Construction

Other Equity

Banks

Power

Oil

Telecom-Services

Software

Petroleum Products


-1.48

21.83

25.35

28.11

-2.34

22.30

26.27

28.43

-5

0

5

10

15

20

25

30

1 Year


wef. 1st Sept , 08

Birla Sun Life New Millennium Fund


A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in technology and technology dependent companies, hardware, peripherals and components, software, telecom, media, internet and e-commerce and other technology enabled companies.



Fund Manager : Mr. Atul Penkar

NAV : Rs.

Growth : 16.54

Dividend : 13.10

Load Structure (Incl. for SIP) Entry Load*:< Rs. 5 crores - 2.25%



Benchmark : BSE Teck Average AUM : Rs. 71.79 Crores



Large

Mid

Small

Investment Style SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life New Millennium Fund...





Investment Period

Total Investment

(Rs.)


Birla Sun Life New Millenn-

ium Fund

Birla Sun Life New Millenn-

ium Fund

BSE Teck BSE Teck

Since Inception 102000 216639 236719 17.16 19.15

Last 5 years 60000 90661 89724 16.55 16.13

Last 3 years 36000 36666 34858 1.20 -2.09

Last 1 year 12000 10731 10122 -19.16 -27.88

Portfolio

Software 43.12


Satyam Computer Services Ltd. 8.78

3i Infotech Ltd. 5.36

Megasoft Ltd. 3.65

Core Projects & Technologies Ltd. 2.92

Infotech Enterprises Ltd. 2.76

Tanla Solutions Ltd. 2.52

Tata Consultancy Services Ltd. 2.12

I-Flex Solutions Ltd. 1.90

Subex Ltd. 1.60

Tech Mahindra Ltd. 1.27




Idea Cellular Ltd. 4.60

Spice Communications Ltd. 3.07


Jagran Prakashan Ltd. 3.48


PVR Ltd. 2.42

Balaji Telefilms Ltd. 2.37

ETC Networks Ltd. 2.22

Magnasound India Ltd. ** 0.00

Hardware 6.45

Allied Digital Services Ltd. 6.23

HCL Infosystems Ltd. 0.22







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

Birla Sun Life New Millennium Fund - Growth BSE Teck

% R

etu

rns

** Represents thinly traded / non traded securities

14


S e p t e m b e r 2 0 0 8

6.45%

8.66%

13.53%

28.24%

43.12%

-18.91

12.44

28.91

6.01

-15.29

14.43

28.39

-30

-20

-10

0

10

20

30

40

1 Year


Software

Telecom-Services


Cash & Current Asset

Hardware

Birla Sun Life Top 100 Fund




Portfolio

Petroleum Products 11.83


Reliance Petroleum Ltd. 2.13

Banks 9.78

Bank of India 2.93

ICICI Bank Ltd. 2.51

Oriental Bank of Commerce 2.35

Axis Bank Ltd. 1.99


ABN AMRO Bank 7.57



ITC Ltd. 4.11



Oil 8.02

Oil & Natural Gas Corporation Ltd. 5.77

Cairn India Ltd. 2.26




Software 7.55


Tata Consultancy Services Ltd. 2.21

Subex Ltd. 0.39


Bharat Heavy Electricals Ltd. 4.30

Bharat Electronics Ltd. 1.95

Finance 5.52

Housing Development Finance Corporation Ltd. 4.37

Infrastructure Development Finance Corporation Ltd. 1.14



Dr. Reddys Laboratories Ltd. 1.80


Bosch Limited. 2.56

Gas 2.46

GAIL (India) Ltd. 2.46

Power 1.79

CESC Ltd. 1.79

Transportation 1.57

Great Eastern Shipping Company Ltd. 1.57

Fertilisers 1.53



Zee Entertainment Enterprises Ltd 1.31

Ferrous Metals 1.29

Welspun Gujarat Stahl Rohren Ltd. 1.29

Construction 1.10

Larsen & Toubro Ltd. 1.10






SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Top 100 Fund...


Asset Allocation

Date of First Installment : November 1, 2005



An open-ended growth scheme with the objective to provide medium to longterm cap i t a l app rec i a t i on , by i nves t i ng predominantly in a diversified portfolio of equity and equity related securities of top 100 companies as measured by market capitalization.



Fund Manager : Mr. Ajay Argal

NAV : Rs.

Growth : 15.42

Dividend : 12.64

Benchmark : S & P CNX Nifty Average AUM : Rs. 323.76 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life Top

100 Fund

Birla Sun Life Top

100 Fund

S&P CNX NIFTY

S&P CNX NIFTY

Since Inception 34000 38339 34471 8.46 0.95

Last 1 year 12000 10511 10074 -22.34 -28.55


Large

Mid

Small

Investment Style




Birla Sun Life Top 100 Fund - Growth S&P CNX Nifty

% R

etu

rns

15


S e p t e m b e r 2 0 0 8

Total outstanding exposure in derivatives as on Aug 29, 2008 is Rs 3.17 Crore (Notional value).

2.46%

2.56%

4.33%

5.52%

6.25%

7.02%

7.55%

7.98%

8.02%

8.59%

9.00%

9.11%

9.78%

11.83%

Gas

Auto Ancillaries

Pharmaceuticals

Finance



Software

Telecom-Services

Oil

Other Equity



Banks

Petroleum Products

-10.31

16.42

-2.34

23.40

-15

-10

-5

0

5

10

15

20

25

30

1 Year

Since Inception

Birla Sun Life Buy India Fund




Birla Sun Life Buy India Fund - Growth BSE 200

% R

etu

rns

Portfolio

Consumer Non Durables 24.27Tata Tea Ltd. 5.24United Spirits Ltd. 4.09E.I.D. Parry (India) Ltd. 3.84Shaw Wallace Company Ltd. 3.52ITC Ltd. 3.39Radico Khaitan Ltd 2.28Marico Ltd. 1.91

Pharmaceuticals 16.12Sun Pharmaceutical Industries Ltd. 7.80Glaxosmithkline Pharmaceuticals Ltd. 4.38Aventis Pharma Ltd. 3.08Pfizer Ltd. 0.86

Media & Entertainment 10.12UTV Software Communications Ltd. 5.07PVR Ltd. 2.55Television Eighteen India Ltd. 2.51


Finance 10.08Reliance Capital Ltd. 3.92Housing Development Finance Corporation Ltd. 3.71India Infoline Ltd. 2.45

Pesticides 8.91Rallis India Ltd. 8.91

Banks 7.43ICICI Bank Ltd. 3.41Axis Bank Ltd. 2.06Kotak Mahindra Bank Ltd. 1.96

Hotels 6.12Taj GVK Hotels & Resorts Ltd. 3.32Asian Hotels Ltd. 2.80



Gas 3.41Indraprastha Gas Ltd. 3.41

Diversified 2.29United Breweries Holdings Ltd. 2.29

Retailing 0.00Trent Ltd. - Warrants ** 0.00






**Represents thinly traded/non traded securities.

A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in businesses that are driven by India's large population and inherent consumption patterns. The focus of the scheme will be in the consumer and healthcare sectors.




NAV : Rs.

Growth : 26.60

Dividend : 18.68




Benchmark : BSE 200 Average AUM : Rs. 47.18 Crores



Large

Mid

Small

Investment Style SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Buy India Fund...





Investment Period

Total Investment

(Rs.)


Birla Sun Life Buy India

Fund

Birla Sun Life Buy India

Fund

BSE 200 BSE 200

Since Inception 102000 286149 312943 23.41 25.42

Last 5 years 60000 98531 101254 19.97 21.10

Last 3 years 36000 41009 37069 8.67 1.92

Last 1 year 12000 10287 10743 -25.54 -18.99

16


S e p t e m b e r 2 0 0 8

1.73%

2.29%

3.41%

4.02%

5.50%

6.12%

7.43%

8.91%

10.08%

10.12%

16.12%

24.27%


Diversified

Gas

Telecom-Services

Auto

Hotels

Banks

Pesticides

Finance


Pharmaceuticals


-5.19

11.64

32.51

12.01

-4.08

20.77

26.36

13.13

-10

-5

0

5

10

15

20

25

30

35

1 Year


Birla Sun Life MNC Fund




Portfolio


Glaxosmithkline Consumer Healthcare Ltd. 4.74

Colgate-Palmolive (India) Ltd. 4.16

ITC Ltd. 4.08

Kansai Nerolac Paints Ltd. 2.45



Pfizer Ltd. 5.18

Glaxosmithkline Pharmaceuticals Ltd. 3.81

Fulford (India) Ltd. 3.21

Wyeth Ltd. 2.68


Areva T&D India Ltd. 3.85

ABB Ltd. 3.17

Honeywell Automation India Ltd. 2.81

Siemens Ltd. 2.41

Alstom Projects India Ltd. 2.08

Finance 10.85

CRISIL Ltd. 6.81

ICRA Ltd. 4.04

Banks 8.70

ING Vysya Bank Ltd. 5.22

Yes Bank Ltd. 3.48

Industrial Products 6.43

Cummins India Ltd. 5.40

Fag Bearings India Ltd. 1.03



Gas 4.84

Gujarat Gas Co. Ltd. 4.84



Ferrous Metals 3.42

Sesa Goa Ltd. 3.42


Wabco-Tvs (India) Ltd. ** 1.27

Sundaram-Clayton Ltd. 1.07

Federal Mogul Goetze (India) Ltd. 0.85

Auto 2.81

Maruti Suzuki India Ltd. 2.81

Construction 1.76

ITD Cementation India Ltd. 1.76



SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life MNC Fund…


Asset Allocation

Date of First Installment : January 01, 2000



An open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk by making investments in securities of multi-national companies through a research based investment approach.


Date of inception : December 27, 1999

Fund Manager : Mr. A. Balasubramaniam

NAV : Rs.

Growth : 111.66

Dividend : 55.97

Benchmark : S & P CNX MNC Average AUM : Rs. 138.29 Crores


Investment Period

Total Investment

(Rs.)


Birla SunLife MNC

Fund

Birla Sun Life MNC

Fund

S&P CNX MNC

S&P CNX MNC

Since Inception 104000 192728 253500 13.80 19.83

Last 5 years 60000 84821 83557 13.84 13.23

Last 3 years 36000 36280 35280 0.51 -1.31

Last 1 year 12000 10622 10622 -20.74 -20.74


Large

Mid

Small

Investment Style




Birla Sun Life MNC Fund - Growth S&P CNX MNC

% R

etu

rns

Load Structure (Incl. for SIP)Entry Load* : < Rs. 5 crores - 2.25%

³ Rs. 5 crores - NilExit Load** : < Rs. 5 crores - 1% if redeemed


17


** Represents thinly traded / non traded securities. Total Percentage of thinly/non traded securities is 1.27%.

S e p t e m b e r 2 0 0 8

1.76%

2.59%

2.81%

3.19%

3.42%

3.58%

4.84%

5.43%

6.43%

8.70%

10.85%

14.31%

14.88%

17.20%

Other Equity


Auto

Auto Ancillaries

Ferrous Metals


Gas

Telecom-Services

Industrial Products

Banks

Finance


Pharmaceuticals


-10.61

12.13

38.42

24.10

-22.77

15.53

19.66

7.13

-30

-20

-10

0

10

20

30

40

50

1 Year


Birla Sun Life India Opportunities Fund




Portfolio

Software 26.30Satyam Computer Services Ltd. 8.94Infosys Technologies Ltd. 4.383i Infotech Ltd. 4.28Tanla Solutions Ltd. 3.18Infotech Enterprises Ltd. 2.27Core Projects & Technologies Ltd 2.03I-Flex Solutions Ltd. 1.22

Industrial Capital Goods 15.56Crompton Greaves Ltd. 4.56Honeywell Automation India Ltd. 3.81Suzlon Energy Ltd. 3.02AIA Engineering Ltd. 2.44Bharat Heavy Electricals Ltd. 1.73


Construction 5.11Larsen & Toubro Ltd. 3.01Punj Lloyd Ltd. 2.10

Industrial Products 4.14Sintex Industries Ltd. 2.99Shree Ganesh Forgings Ltd. 0.70Everest Kanto Cylinder Ltd. 0.45

Finance 4.02CRISIL Ltd. 4.02

Telecom-Services 3.75Reliance Communications Ltd. 3.75

Pharmaceuticals 3.47Sun Pharmaceutical Industries Ltd. 2.11Aventis Pharma Ltd. 0.69Dr. Reddys Laboratories Ltd. 0.67

Consumer Non Durables 3.32Hanung Toys & Textiles Ltd. 3.32

Consumer Durables 2.65Voltas Ltd. 2.65


Hardware 2.19Allied Digital Services Ltd. 2.19



Textile Products 0.93Raymond Ltd. 0.93

Ferrous Metals 0.70Welspun Gujarat Stahl Rohren Ltd. 0.70






SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life India Opportunities Fund...


Asset Allocation

Date of First Installment : January 01, 2000



An open-ended growth scheme with the objective to achieve superior long-term growth of capital by investing in shares of companies that do one or more of the following: Leverage India's intellectual capital for providing services, research and creative inputs; Seek to use current and impending changes in patent

laws / import tariffs / quotas to supply goods and services; Leverage India's lower labour costs for providing services and manufactured goods; Leverage India's large population of English speaking people for providing services.


Date of inception : December 27, 1999

Fund Manager : Mr. Atul Penkar

NAV : Rs.

Growth : 40.46

Dividend : 17.37

Benchmark : S & P CNX 500 Average AUM : Rs. 51.92 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life India

Opportunities Fund

Birla Sun Life India

Opportunities Fund

S&P CNX 500

S&P CNX 500

Since Inception 104000 283458 221651 22.28 16.88

Last 5 years 60000 95771 74047 18.80 8.36

Last 3 years 36000 39789 31703 6.63 -8.11

Last 1 year 12000 10224 9706 -26.44 -33.64


Large

Mid

Small

Investment Style

Birla Sun Life India Opportunities Fund - Growth S&P CNX 500

% R

etu

rns




18


S e p t e m b e r 2 0 0 8

Total outstanding exposure in derivatives as on August 29, 2008 is Rs.1.90 Crores (Notional value).

2.19%

2.43%

2.65%

3.32%

3.47%

3.75%

4.02%

4.14%

5.07%

5.11%

7.81%

14.17%

15.56%

26.30%

Hardware


Consumer Durables


Pharmaceuticals

Telecom-Services

Finance

Industrial Products

Other Equity

Construction

Petroleum Products



Software

-20.21

7.31

20.83

6.36

-6.01

17.97

25.93

13.61

-30

-20

-10

0

10

20

30

1 Year


Birla Sun Life Dividend Yield Plus


SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Dividend Yield Plus...





An open-ended growth scheme with the objective to provide capital growth and income by investing primarily in a well-diversified portfolio of dividend paying companies that have a relatively high dividend yield.



Fund Manager : Mr. Ankit Sancheti

NAV : Rs.

Growth : 44.08

Dividend : 9.90

Benchmark : S & P CNX 500 Average AUM : Rs. 233.16 Crores


Investment Period

Total Investment

(Rs.)


Birla Sun Life Dividend

Yield Plus

Birla Sun Life Dividend

Yield Plus

S&P CNX 500

S&P CNX 500

Since Inception 66000 122153 107430 22.45 17.69

Last 5 years 60000 95771 83714 18.80 13.31

Last 3 years 36000 39789 37242 6.63 2.22

Last 1 year 12000 10224 10638 -26.44 -20.51


Large

Mid

Small

Investment Style

Portfolio

Money Market Instruments 14.24State Bank of Patiala 8.35Canara Bank 3.75National Bank for Agriculture & Rural Devevelopment 2.14

Consumer Non Durables 13.58Glaxosmithkline Consumer Healthcare Ltd. 2.60Colgate-Palmolive (India) Ltd. 2.36Kansai Nerolac Paints Ltd. 1.92Hindustan Unilever Ltd. 1.48Procter & Gamble Hygiene & Health Care Ltd. 1.42Berger Paints India Ltd. 1.36Shaw Wallace Company Ltd. 1.24Eveready Industries India Ltd. 1.20

Petroleum Products 10.64Apar Industries Ltd. 2.57Hindustan Petroleum Corporation Ltd. 2.39Bharat Petroleum Corporation Ltd. 2.02Indian Oil Corporation Ltd. 1.85Castrol (India) Ltd. 1.82

Banks 10.09Bank of Baroda 2.14Union Bank of India 2.10Andhra Bank 1.78Allahabad Bank 1.63Indian Overseas Bank 1.57Oriental Bank of Commerce 0.87

Pharmaceuticals 9.47Wyeth Ltd. 4.38Glaxosmithkline Pharmaceuticals Ltd. 3.77

Pfizer Ltd. 1.32

Fertilisers 6.04Tata Chemicals Ltd. 2.86Rashtriya Chemicals & Fertilizers Ltd. 1.95Gujarat Narmada Valley Fertilisers Co. Ltd. 0.78DCM Shriram Consolidated Ltd. 0.45

Transportation 4.79Great Eastern Shipping Company Ltd. 2.31Gateway Distriparks Ltd. 1.91Varun Shipping Company Ltd. 0.58


Power 3.67Neyveli Lignite Corporation Ltd. 2.08KEC International Ltd. 1.59

Paper 3.36Tamil Nadu Newsprint & Papers Ltd. 3.36

Chemicals 2.94Clariant Chemicals (India) Ltd. 2.94

Gas 2.32GAIL (India) Ltd. 1.37Indraprastha Gas Ltd. 0.95

Industrial Products 2.02Cosmo Films Ltd. 1.64Finolex Cables Ltd. 0.36

Kirloskar Brothers Ltd. 0.03

Finance 1.83Indiabulls Securities Limited. 1.25Power Finance Corporation Ltd 0.55Octav Investments Limited. 0.02

Auto 1.73Hero Honda Motors Ltd. 0.90Bajaj Auto Ltd. 0.83

Hardware 1.71HCL Infosystems Ltd. 1.71

Ferrous Metals 1.47Tata Metaliks Ltd. 0.82Tata Steel Ltd. 0.65

Auto Ancillaries 1.46Goodyear India Ltd. 0.55WABCO-TVS (INDIA) LTD. ** 0.49Sundaram-Clayton Ltd. 0.42

Media & Entertainment 1.05Balaji Telefilms Ltd. 1.05

Consumer Durables 0.51Salora International Ltd. 0.51











Asset Allocation

% R

etu

rns

Birla Sun Life Dividend Yield Plus - Growth S&P CNX 500

**Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 0.49%.

19


S e p t e m b e r 2 0 0 8

2.02%

2.32%

2.59%

2.94%

3.36%

3.67%

4.51%

4.79%

6.04%

9.47%

9.74%

10.09%

10.64%

13.58%

14.24%

Industrial Products

Gas


Chemicals

Paper

Power

Oil

Transportation

Fertilisers

Pharmaceuticals

Other Equity

Banks

Petroleum Products



-4.62

9.97

22.92

30.90

-6.01

17.97

25.93

32.09

-10

-5

0

5

10

15

20

25

30

35

1 Year



SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life International Equity Fund - Plan A (BSLIEF - Plan A)...


Date of First Installment : December 01, 2007

The data assumes the investment of Rs. 1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future.


An open-ended diversified equity scheme with an objective to generate long-term growth of capital, by investing predominantly in a diversified portfolio of equity and equity related securities in the international markets.



Fund Manager : Mr. Mahesh Patil & Mr. Vineet Maloo

NAV : Rs.

Growth : 9.49

Dividend : 9.49

Benchmark : S&P Global 1200 Average AUM : Rs. 191.64 Crores



Large

Mid

Small

Investment Style

Portfolio

Foreign Equity 89.25

Aetna Inc New 1.95

Airgas Inc 1.54

Akzo Nobel NV 2.07

Au Optronics Corp 1.72

Bayer AG 2.38

Bayerische Motoren Werke Ag - BMW 0.84

Bumiputra-Commerce Holdings Ltd 1.80

Cheung Kong Intl holding Ltd. 2.94

China Construction Bank 2.18

China Mobile (Hk) Ltd. 1.50

China Oilfield Services Ltd. 1.47

Chubb Corp 1.12

Coca Cola Co 2.31

Cooper Industries Ltd. 2.25

DSV A/S 1.95

Esprit Holdings Ltd 1.63

Foxconn International Holdings Ltd. 0.86

Genting Bhd (Cds) 1.77

Industrial and Commercial Bank of China Asia Ltd 2.20

JP Morgan Chase & Co 1.96

LG Electronics Inc 0.14

Metso Corporation 1.14

Microsoft Corportion Ltd. 1.84

Mtr Corp Ltd. 2.13

Nestle SA 2.61

Nobel Corp 2.44

Northrop Grumman Co 2.14

Oracle Corporation Ltd. 1.55

Pride International Inc 3.18

Procter & Gamble Co 2.80

Public Bank Bhd (Local) (Cds) 2.02

Reckitt Benckiser Plc 2.30

Renewable Enrgy Corp 2.77

Roche Holding AG Gen 2.03

Schneider Electric SA 2.01

Singapore Airlines Ltd. 2.20

Statoilhydro ASA 2.71

Taiwan Semiconductor Mfg. Company Ltd. - ADR 2.82

Telenor ASA 1.86

Teva Pharmaceutical Industries Ltd. - ADR 2.58

Unibanco Holding GDR 2.32

Venture Corporation 2.47

Vimpel Communication 1.54

Wharf Holdings Ltd. 1.78

Wimm Bill Dann Foods OJSC - ADR 1.43








Load Structure (Incl. for SIP) Entry Load* : < Rs. 5 crores - 2.50%

³ Rs. 5 crores - NilExit Load** : < 5 Crores - 1% if redeemed /

switched out within 12 months ³ Rs. 5 crores - Nil


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

Asset Allocation

Birla Sun Life International Equity Fund - Plan A - Growth S&P Global 1200

Birla Sun Life International Equity Fund - Plan A

Your Total Investment Rs. 9,000

Value of Your Investment Rs. 8,725

Value of Benchmark (S&P Global 1200) Rs. 8,754

Return on Investment (CAGR)* -7.32%

Benchmark (S&P Global 1200) Returns (CAGR)* -6.65%

20


S e p t e m b e r 2 0 0 8

0.78%

9.98%

89.25%



Foreign Equity

% R

etu

rns

Since Inception

-5.13

-11.1-12.00

-10.00

-8.00

-6.00

-4.00

-2.00

0.00


SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life International Equity Fund - Plan B (BSLIEF - Plan B)...


Date of First Installment : December 01, 2007

The data assumes the investment of Rs. 1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future.


An open-ended diversified equity scheme with an objective to generate long-term growth of capital, by investing predominantly in a diversified portfolio of equity and equity related securities in the domestic and international markets.



Fund Manager : Mr. Mahesh Patil & Mr. Vineet Maloo

NAV : Rs.

Growth : 7.73

Dividend : 7.73

Benchmark:Customised Index† Average AUM : Rs. 633.38 Crores



Large

Mid

Small

Investment Style

Portfolio

Foreign Equity 30.44Aetna Inc New 0.67Airgas Inc 0.48Akzo Nobel NV 0.70Au Optronics Corp 0.53Bayer AG 0.80Bayerische Motoren Werke Ag - BMW 0.26Bumiputra-Commerce Holdings Ltd 0.60Cheung Kong Intl holding Ltd. 1.01China Construction Bank 0.73China Mobile (Hk) Ltd. 0.53China Oilfield Services Ltd. 0.50Chubb Corp 0.35Coca Cola Co 0.82Cooper Industries Ltd. 0.76DSV A/S 0.66Esprit Holdings Ltd 0.59Foxconn International Holdings Ltd. 0.30Genting Bhd (Cds) 0.59Industrial and Commercial Bank of China Asia Ltd 0.76JP Morgan Chase & Co 0.66LG Electronics Inc 0.05Metso Corporation 0.39Microsoft Corportion Ltd. 0.62Mtr Corp Ltd. 0.73Nestle SA 0.87Nobel Corp 0.83Northrop Grumman Co 0.74Oracle Corporation Ltd. 0.52Pride International Inc 1.07Procter & Gamble Co 0.99Public Bank Bhd (Local) (Cds) 0.72Reckitt Benckiser Plc 0.78Renewable Enrgy Corp 0.98Roche Holding AG Gen 0.67Schneider Electric SA 0.69Singapore Airlines Ltd. 0.64Statoilhydro ASA 0.92Taiwan Semiconductor Mfg. Company Ltd. - ADR 1.02Telenor ASA 0.66Teva Pharmaceutical Industries Ltd. - ADR 0.97Unibanco Holding GDR 0.79Venture Corporation 0.88

Vimpel Communication 0.51Wharf Holdings Ltd. 0.61Wimm Bill Dann Foods OJSC - ADR 0.49

Money Market Instruments 15.04ICICI Bank Ltd. 9.99National Bank for Agriculture & Rural Development 5.05

Banks 7.15HDFC Bank Ltd. 1.65Punjab National Bank 1.45ICICI Bank Ltd. 1.31ING Vysya Bank Ltd. 0.96Axis Bank Ltd. 0.96Union Bank of India 0.82

Petroleum Products 6.03Reliance Industries Ltd. 5.32Reliance Petroleum Ltd. 0.72

Industrial Capital Goods 5.91Crompton Greaves Ltd. 2.17Bharat Heavy Electricals Ltd. 2.15Suzlon Energy Ltd. 0.95Bharat Electronics Ltd. 0.64


Finance 4.57Housing Development Finance Corp. Ltd. 2.18ICRA Ltd. 1.52India Infoline Ltd. 0.87Octav Investments Limited. 0.00

Consumer Non Durables 4.39ITC Ltd. 2.06Colgate-Palmolive (India) Ltd. 1.60United Spirits Ltd. 0.73

Software 3.86Infosys Technologies Ltd. 2.79


Construction 3.11Larsen & Toubro Ltd. 2.42D.S. Kulkarni Developers Ltd. 0.68


Power 2.74Tata Power Company Ltd. 1.20GVK Power & Infrastructure Ltd. 1.07NTPC Ltd. 0.47

Media & Entertainment 1.32Zee Entertainment Enterprises Ltd 1.32



Ferrous Metals 0.76Welspun Gujarat Stahl Rohren Ltd. 0.76

Diversified 0.55United Breweries Holdings Ltd. 0.40Aditya Birla Nuvo Ltd. 0.15

Pharmaceuticals 0.55Ranbaxy Laboratories Ltd. 0.55










Asset Allocation

Birla Sun Life International Equity Fund - Plan B

†A customized benchmark created using BSE 200 to the extent of 65% of portfolio and S&P Global 1200 to the extent of 35% of portfolio.

†A customized benchmark created using BSE 200 to the extent of 65% of portfolio and S&P Global 1200 to the extent of 35% of portfolio. †A customized benchmark created using BSE 200 to the extent of 65% of portfolio and S&P Global 1200 to the extent of 35% of portfolio.


Birla Sun Life International Equity Fund - Plan B - Growth Customised Index†

21




Value of Benchmark (Customised Index†) Rs. 8,139


Benchmark (Customised Index†) Returns (CAGR)* -22.04%

Load Structure (Incl. for SIP) Entry Load* : < Rs. 5 crores - 2.50%

³ Rs. 5 crores - NilExit Load** : < 5 Crores - 1% if redeemed /

switched out within 12 months ³ Rs. 5 crores - Nil

S e p t e m b e r 2 0 0 8

2.74%

2.85%

3.11%

3.46%

3.86%

4.39%

4.57%

4.72%

5.73%

5.91%

6.03%

7.15%

15.04%

30.44%

Power

Oil

Construction


Software


Finance

Telecom-Services

Other Equity


Petroleum Products

Banks


Foreign EquitySince Inception

-22.72

-20.74

% R

etu

rns

-23

-22.5

-22

-21.5

-21

-20.5

-20

-19.5

Birla Sun Life Special Situations Fund


SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Special Situations Fund...





An open-ended diversified equity scheme with an objective of the scheme is to generate long-term growth of capital by investing in a portfolio of equity and equity related securities. The Scheme would follow an investment strategy that would take advantage of Special Situations & Contrarian investment style.


Date of inception : Jan 31, 2008

Fund Manager : Mr. A. Balasubramanian & Mr. Jignesh Shah

NAV : Rs.

Growth : 7.98

Dividend : 7.98

Benchmark : BSE 200

Average AUM : Rs. 625.32 Crs



Large

Mid

Small

Investment Style

Portfolio

Money Market Instruments 19.86State Bank of Patiala 16.29ICICI Bank Ltd. 3.56

Petroleum Products 11.20Reliance Industries Ltd. 9.36Indian Oil Corporation Ltd. 1.56Bharat Petroleum Corporation Ltd. 0.28

Consumer Non Durables 9.01ITC Ltd. 3.72Bajaj Hindustan Ltd. 2.19United Spirits Ltd. 2.14Balrampur Chini Mills Ltd. 0.97

Construction 7.79Akruti City Ltd. 3.76Patel Engineering Ltd. 2.03Larsen & Toubro Ltd. 1.85Hindustan Construction Co. Ltd. 0.15

Banks 6.99State Bank of India 2.77Bank of Baroda 1.29Axis Bank Ltd. 1.21Bank of India 1.16Dena Bank 0.56

Power 5.82NTPC Ltd. 3.25Reliance Infrastructure Ltd. 2.10LANCO Infratech Ltd. 0.47

Fertilisers 5.60Tata Chemicals Ltd. 5.02Coromandel Fertilisers Ltd. 0.58

Pharmaceuticals 4.39Divis Laboratories Ltd. 2.29Glaxosmithkline Pharmaceuticals Ltd. 1.50Ranbaxy Laboratories Ltd. 0.36Glenmark Pharmaceuticals Ltd. 0.24



Software 2.65Core Projects & Technologies Ltd. 2.17Tata Consultancy Services Ltd. 0.48

Chemicals 2.51Gujarat Alkalies & Chemicals Ltd. 2.51

Diversified 2.45Aditya Birla Nuvo Ltd. 2.23United Breweries Holdings Ltd. 0.22

Gas 2.39Gujarat Fluorochemicals Ltd. 2.39

Cement 1.90Century Textile & Industries Ltd. 1.24ACC Ltd. 0.66

Ferrous Metals 1.69Welspun Gujarat Stahl Rohren Ltd. 0.90Jindal Steel & Power Ltd. 0.79

Finance 0.93LIC Housing Finance Ltd. 0.74Bajaj Finserv Ltd. 0.19

Paper 0.88Ballarpur Industries Ltd. 0.88

Media & Entertainment 0.84Adlabs Films Ltd. 0.84


Industrial Capital Goods 0.21Thermax Ltd. 0.21

Auto 0.21Bajaj Auto Ltd. 0.21







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

Asset Allocation

Birla Sun Life Special Situations Fund - Growth BSE 200


22




Value of Benchmark (BSE 200) Rs. 4,757


Benchmark (BSE 200) Returns (CAGR)* -18.59%

Load Structure :





S e p t e m b e r 2 0 0 8

2.39%

2.45%

2.51%

2.65%

3.03%

4.24%

4.39%

4.69%

5.60%

5.82%

6.99%

7.39%

7.79%

9.01%

11.20%

19.86%

Gas Utilities

Diversified

Chemicals

Software


Telecom-Services

Pharmaceuticals


Fertilisers

Power

Banks

Other Equity

Construction


Petroleum Products

Money Market InstrumentsSince Inception

-20.2

-20.1

% R

etu

rns

-20.22

-20.2

-20.18

-20.16

-20.14

-20.12

-20.1

-20.08

-20.06

-20.04

Birla Sun Life '95 FundAs on August 31, 2008



Portfolio

Corporate Debt 12.33Housing Development Finance Corporation Ltd.** 9.25 AAACitiFinancial Consumer Finance India Ltd.** 3.08 AAA

Pesticides 7.67Rallis India Ltd. 7.67

Consumer Non Durables 7.65ITC Ltd. 3.85 Nestle India Ltd. 2.29 Colgate-Palmolive (India) Ltd. 1.51

Banks 7.04Kotak Mahindra Bank Ltd. 2.87 ICICI Bank Ltd. 1.73 Punjab National Bank 1.48 Allahabad Bank 0.96

Petroleum Products 5.68Reliance Industries Ltd. 3.63 Indian Oil Corporation Ltd. 2.05

Software 5.60Infosys Technologies Ltd. 3.57 Satyam Computer Services Ltd. 2.03

Pharmaceuticals 5.38Glenmark Pharmaceuticals Ltd. 3.22 Dr. Reddys Laboratories Ltd. 1.52 Aventis Pharma Ltd. 0.63

Industrial Capital Goods 4.97Jyoti Structures Ltd. 1.28 Bharat Heavy Electricals Ltd. 1.27 Bharati Shipyard Ltd. 1.23 Siemens Ltd. 1.19

Telecom-Services 4.41Bharti Airtel Ltd. 3.05 Spice Communications Ltd. 1.36

Retailing 4.27Trent Ltd. 4.27

Construction 4.11Larsen & Toubro Ltd. 2.64

Jaiprakash Associates Ltd. 1.47

PSU/PFI Bonds/Banks 3.33ICICI Bank Ltd. 3.33 AAA

Government Bond 2.99Government Bond 2.99 Sovereign

Diversified 2.85United Breweries Holdings Ltd. 1.35 Aditya Birla Nuvo Ltd. 0.91 Bombay Burmah Trading Corporation Ltd. 0.60

Fertilisers 2.46Rashtriya Chemicals & Fertilizers Ltd. 2.46

Gas 2.13Gujarat Gas Co. Ltd. 2.13

Non - Ferrous Metals 1.67Nava Bharat Ventures Ltd. 1.67

Power 1.24GVK Power & Infrastructure Ltd. 1.24

Finance 1.09Infrastructure Development Finance Company Ltd. 1.09

Media & Entertainment 1.01ETC Networks Ltd. 1.01 Magnasound India Ltd.** 0.00


Auto 0.51Bajaj Auto Ltd. 0.51

Transportation 0.36Gateway Distriparks Ltd. 0.36



** Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 15.66%.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life '95 Fund...


Asset Allocation




An open-ended balanced scheme with the objective of long term growth of capital and current income, through a portfolio of equity and fixed income securities



Fund Manager : Mr. A. Balasubramanian

NAV : Rs.

Growth : 192.46

Dividend : 84.31

Benchmark : CRISIL Balanced Fund Index

Average Maturity : 4.37 Years

Average AUM : CroresRs. 147.67


Investment Period

Total Investment

(Rs.)


Birla Sun Life '95 Fund

Birla Sun Life '95 Fund

CRISIL Balanced

Fund Index

CRISIL Balanced

Fund Index

Rating Profile


Large

Mid

Small

Investment Style

Since Inception 161000 359321 1098920 11.24 25.85

Last 5 years 60000 85531 93791 14.18 17.94

Last 3 years 36000 40751 40217 8.24 7.35

Last 1 year 12000 11087 10686 -13.91 -19.80

Interest Rate Sensitivity: (Debt) Low

Issuer % to Net RatingAssets


Birla Sun Life 95 Fund - Growth Crisil Balanced Fund Index

% R

etu

rns

S e p t e m b e r 2 0 0 8

Best Fund - 10 yrs performance&

Lipper Awards India 2008

Winner of

Mixed Asset INR Aggressive, (6 schemes) 10 Yrs ended 31-Dec-07

Birla Sun Life ‘95 Fund - Growth



Load Structure :





23

2.99%

10.68%

15.66%

70.67%

Sovereign


AAA

Equity

-6.58

16.37

24.69 24.37

1.21

15.68

17.82

-10

-5

0

5

10

15

20

25

30

1 Year 3 Years 5 Years Since Inception

2.13%

2.46%

2.85%

2.99%

3.33%

4.11%

4.27%

4.41%

4.97%

5.38%

5.60%

5.68%

6.44%

7.04%

7.65%

7.67%

10.68%

12.33%

Gas

Fertilisers

Diversified

Government Bond

PSU/PFI Bonds/Banks

Construction

Retailing

Telecom-Services


Pharmaceuticals

Software

Petroleum Products

Other Equity

Banks


Pesticides


Corporate Debt

Birla Sun Life Balance




Portfolio

Consumer Non Durables 17.28E.I.D. Parry (India) Ltd. 6.00 ITC Ltd. 5.26 Radico Khaitan Ltd 2.26 Shaw Wallace Company Ltd. 1.55 United Spirits Ltd. 1.39 Balrampur Chini Mills Ltd. 0.83

PSU/PFI Bonds/Banks 15.60Infrastructure Development Fin. Co. Ltd.** 7.65 AAACitibank N A ** 7.19 AAAHDFC Bank Ltd.** 0.41 AAAICICI Bank Ltd.** 0.35 AAA

Pharmaceuticals 14.26Novartis India Ltd. 4.64 Pfizer Ltd. 3.76 Dr. Reddys Laboratories Ltd. 2.19 Wyeth Ltd. 1.86 Piramal Healthcare Ltd. 1.73 Piramal Life Sciences Ltd. 0.09

Government Bond 7.248.24% GOI 2027 4.46 SovereignGovt Bond 7.61% Oil Company 2015 2.78 Sovereign

Software 5.48Infosys Technologies Ltd. 3.55 HCL Technologies Ltd. 1.48 Core Projects & Technologies Ltd 0.46

Money Market Instruments 5.07Karnataka Bank Ltd. 5.07 A1+

Petroleum Products 4.80Reliance Industries Ltd. 3.25 Indian Oil Corporation Ltd. 1.55

Banks 4.53Indian Overseas Bank 2.08 Punjab National Bank 1.35 Kotak Mahindra Bank Ltd. 0.60

ICICI Bank Ltd. 0.50

Fertilisers 2.75Tata Chemicals Ltd. 1.91 Chambal Fertilizers & Chemicals Ltd. 0.84

Pesticides 2.55United Phosphorus Ltd. 2.55

Industrial Capital Goods 2.40Bharat Electronics Ltd. 2.40

Gas 2.16Indraprastha Gas Ltd. 2.16



Auto 1.32Hero Honda Motors Ltd. 1.32

Hotels 0.82Hotel Leelaventure Ltd. 0.82

Construction 0.81Nagarjuna Construction Co. Ltd. 0.81

Transportation 0.66Gateway Distriparks Ltd. 0.46 Great Eastern Shipping Company Ltd. 0.20

Corporate Debt 0.49Housing Development Finance Corp Ltd.** 0.49 AAA

Finance 0.43Bajaj Finserv Ltd 0.43



SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Balance ...


Asset Allocation

Date of First Installment : November 1,1999



An open-ended balanced scheme with an objective to balance income requirements with growth of capital through a balance mix of investments in equity and debt at relatively moderate levels of risks through a diversifiedresearch based investment approach.



Fund Manager : Mr. A. Balasubramanian

NAV : Rs.

Growth : 29.42

Dividend : 19.56

Benchmark : CRISIL Balanced Fund Index Average Maturity : 4.00 Years

Average AUM : Rs. 99.14 Crores


Investment Period

Total Investment

(Rs.)




CRISIL Balanced

Fund Index

CRISIL Balanced

Fund Index

Rating Profile




Large

Mid

Small

Investment Style

Since Inception 106000 210754 226194 15.04 16.56

Last 5 years 60000 85531 84885 14.18 13.87

Last 3 years 36000 40751 39453 8.24 6.06

Last 1 year 12000 11087 11106 -13.91 -13.62

Interest Rate Sensitivity: (Debt) Medium

Birla Sun Life Balance - Growth Crisil Balanced Fund Index

% R

etu

rns


³ Rs. 5 crores - NilExit Load** :< Rs. 5 crores - 1% if redeemed


S e p t e m b e r 2 0 0 8

**Represents thinly traded / non traded securities. Total Percentage of thinly/non traded securities is 16.09%.


24

CRISIL~CPR 2^^Birla Sun Life Balance

Balanced Schemes Category ( Schemes) Yrs ended -Jun-0816 , 2 30


7.16%

7.24%

21.16%

64.44%

-2.58

14.44

19.11

12.91

1.21

15.68

17.82

-5

0

5

10

15

20

25


0.49%

2.08%

2.12%

2.16%

2.40%

2.55%

2.75%

4.04%

4.53%

4.80%

5.07%

5.48%

7.16%

7.24%

14.26%

15.60%

17.28%

Corporate Debt

Oil

Telecom-Services

Gas


Pesticides

Fertilisers

Other Equity

Banks

Petroleum Products


Software


Government Bond

Pharmaceuticals

PSU/PFI Bonds/Banks


Other

AAA

Sovereign


Birla Sun Life Monthly IncomeAn open- ended fund. Monthly income is not assured and is subject

to availability of distributable surplus




Portfolio

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 63.61%.

An open-ended income scheme with the primary investment objective to generate regular income so as to make monthly and quarterly distributions to Unitholders and the secondary objective as growth of capital. Monthly income is not assured and is subject to availability of distributable surplus.


Fund Manager : Mr. A. BalasubramanianDate of inception : July 14, 1999

NAV : Rs.Growth : 27.4584Monthly Dividend : 10.0588Quarterly Dividend : 10.5793


Entry Load :

Exit Load** : For redemption / switch out of

units within 12 months from the

date of allotment: 1%

NIL

Benchmark : CRISIL MIP Blended Index




Asset Allocation

Rating Profile

PSU/PFI Bonds/Banks 33.43

Indian Railway Finance Corporation Ltd.** 16.97 AAA

Infrastructure Development Financial. Corporation. Ltd.** 12.27 AAA

ICICI Bank Ltd.** 3.80 AAA

LIC Housing Finance Ltd.** 0.33 AAA

Power Finance Corporation Ltd.** 0.07 AAA

Corporate Debt 30.17

Housing Development Finance Corp Ltd.** 13.39 AAA

GE Capital Services India Ltd.** 9.98 AAA

Reliance Industries Ltd.** 4.74 AAA

Sundaram Finance Ltd.** 2.07 AA+

EQUITY 13.54

Rallis India Ltd. 2.50

Cipla Ltd. 1.44



KEC International Ltd. 1.07


Chambal Fertilizers & Chemicals Ltd. 0.85

HCL Technologies Ltd. 0.62

ETC Networks Ltd. 0.57

United Phosphorus Ltd. 0.47

Aventis Pharma Ltd. 0.40

Gujarat Gas Co. Ltd. 0.40

Rashtriya Chemicals & Fertilizers Ltd. 0.40

McDowell Holdings Ltd. 0.37

Power Grid Corporation of (I) Ltd. 0.34

United Breweries Holdings Ltd. 0.28

Hero Honda Motors Ltd. 0.23


United Breweries Ltd. 0.01


Government Bond 9.50

Govt. Bond 7.47% 2012 3.99 Sovereign

Govt. Bond 8.24% 2027 3.10 Sovereign

Govt Bond 5.87%2010 2.41 Sovereign


State Bank of Patiala 6.32 A1+






High Med LowInterest Rate

Sensivity

High

Mid

Low

Credit Quality

CRISIL~CPR 2^^Birla Sun Life Monthly Income

MIP Conservative Scheme ( Schemes) Yrs ended -Jun-089 , 2 30

Birla Sun Life Monthly Income - Growth Crisil MIP Blended Index


% R

etu

rns

S e p t e m b e r 2 0 0 8

CNBC TV-18 CRISIL AWARD 2007Birla Sun Life Monthly Income

&&

Category: Monthly Income Plans – Conservative 1 yr performance ended 31 Dec, '07. Total Schemes in Category = 9

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

25

2.07%

7.04%

9.50%

13.53%

67.86%

AA


Sovereign

Equity

AAA1.84

7.81

8.44

11.69

3.78

7.16 7.17

0

2

4

6

8

10

12

14


Equity 13.54%

Corporate Debt

Government Bond



33.43%

30.17%

9.50%

7.04%

6.32%

PSU/PFI Bonds/Banks

Birla Sun Life MIPAn open- ended fund. Monthly income is not assured and is subject to

availability of distributable surplus




Portfolio

** Represents thinly traded/ non traded securities and illiquid securities.Total Percentage of thinly/non traded securities is 44.85 %.

The primary objective of the schemes is to generate regular income so as to make monthly distributions to unitholders with the secondary objective being growth of capital. Income may be generated through the receipt of coupon payments, the amortization of the discount on debt instruments, receipt of dividends or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets primarily in fixed income securities, money market instruments, cash and cash equivalents while at the same time maintaining a small exposure to equity markets. (Monthly income is not assured and is subject to availability of distributable surplus.)


Fund Manager : Mr. A. Balasubramanian Date of inception : November 20, 2000

NAV : Rs.

Monthly Payment / Plan : 20.1574

Dividend Plan : 10.0638


Entry Load :

Exit Load** : £ Rs 10 lakhs: 0.60% if redeemed

/ switched out with in 90 days

from the date of allotment.

> 10 Lakhs: Nil

NIL

Benchmark : CRISIL MIP Blended Index




Asset Allocation

Rating Profile


Karnataka Bank Ltd. 20.31 A1+



Housing Development Finance Corporation Ltd.** 10.13 AAA

Great Eastern Shipping Company Ltd.** 8.01 AAA

GE Capital Services India Ltd.** 4.16 AAA

Sundaram Finance Ltd.** 1.72 AA+


Indian Railways Finance Corporation Ltd.** 12.75 AAA

ICICI Bank Ltd.** 4.32 AAA

Power Grid Corporation of India Ltd.** 3.24 AAA


State Bank of India** 0.17 AAA

EQUITY 12.05



ITC Ltd. 1.33

Simplex Infrastructures Ltd. 1.01

Pfizer Ltd. 0.93

Reliance Petroleum Ltd. 0.88

Hanung Toys & Textiles Ltd. 0.88


Raymond Ltd. 0.77

Aventis Pharma Ltd. 0.50

Cipla Ltd. 0.47

United Phosphorus Ltd. 0.46

GAIL (India) Ltd. 0.35

Hindustan Petroleum Corporation Ltd. 0.33


8.24% CGL 2027 3.88 Sovereign







Sensivity

High

Mid

Low

Credit Quality

Birla Sun Life MIP - Growth Crisil MIP Blended Index

% R

etu

rns

S e p t e m b e r 2 0 0 8


26

3.88%

11.88%

12.05%

20.82%

24.03%

27.33%

Government Bond


Equity

PSU/PFI Bonds/Banks

Corporate Debt


1.72%

3.88%

11.88%

12.05%

70.46%

-1.76

6.00

6.93

9.43

3.78

7.16 7.17

-4

-2

0

2

4

6

8

10


Equity

AAA

AA

Sovereign



Birla Sun Life MIP II - Wealth 25 PlanAn open- ended fund. Monthly income is not assured and is subject

to availability of distributable surplus



Portfolio


An open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus.


Fund Manager : Mr. A. BalasubramanianDate of inception : May 22, 2004

NAV : Rs.

Payment / Growth : 13.5708

Dividend : 9.7199


Entry Load :

Exit Load** : For redemption / switch out of

units within 12 months from the

date of allotment: 1%

NIL

Benchmark : CRISIL MIP Blended

IndexAverage AUM : Rs. 84.07 Crores



Asset Allocation

Rating Profile


Tata Sons Ltd. 29.43 A1+

Housing Development Finance Corporation Ltd. 7.69 A1+

EQUITY 26.39

Spice Communications Ltd. 2.75

Aditya Birla Nuvo Ltd. 2.73


Nava Bharat Ventures Ltd. 2.59



Dr. Reddys Laboratories Ltd. 1.59

ITC Ltd. 1.57


Simplex Infrastructures Ltd. 1.35

Indian Overseas Bank 1.35

Novartis India Ltd. 1.23

HDFC Bank Ltd. 1.21

Pfizer Ltd. 1.13

Madras Cements Ltd. 0.64


Infrastructure Development Finance company Ltd. ** 11.45 AAA

ICICI Bank Ltd. ** 1.16 AAA


GE Capital Services India Ltd. ** 5.59 AAA

Great Eastern Shipping Company Ltd. ** 5.38 AAA


8.24% GOI 2027 5.22 Sovereign

Govt Bond 7.61% Oil Company 2015 1.99 Sovereign







Sensivity

High

Mid

Low

Credit Quality

Birla Sun Life MIP - Wealth 25 - Growth Crisil MIP Blended Index

% R

etu

rns

S e p t e m b e r 2 0 0 8


27

5.69%

7.20%

10.97%

12.62%

26.39%

37.13%


Government Bond

Corporate Debt

PSU/PFI Bonds/Banks

Equity


5.69%

7.20%

26.39%

60.72%


Sovereign

Equity

AAA

-4.55

5.76

7.41

3.78

7.16 7.01

-6

-4

-2

0

2

4

6

8

10

1 Year 3 Years Since Inception

Birla Sun Life Asset Allocation Fund


Portfolio - Aggressive Plan Portfolio - Moderate Plan Portfolio - Conservation Plan

An open-ended Fund of Funds scheme with the objective to provide income and capital appreciation along with diversification by investing in a basket of debt and equity Mutual Fund schemes in line with the risk profile of the investors.


Fund Managers : Mr. Satyabrata Mohanty & Mr. Ajay Garg

Date of inception : February 24, 2004NAV : Rs.Aggressive PlanGrowth : 21.4159Dividend : 21.4159Conservative PlanGrowth : 15.9278Dividend : 15.9278Moderate PlanGrowth : 19.2893Dividend : 19.2893

Load Structure (Incl. for SIP):Entry Load :Aggressive Plan : 1.50%Moderate Plan : 1.00%Conservative Plan : 0.50%Exit Load : NIL

Aggressive Plan - Investment Style Box Moderate Plan - Investment Style Box Conservation Plan-Investment Style Box

Investment Performance - Aggressive Plan


Investment Performance - Moderate Plan


Investment Performance - Conservation Plan





Mutual Fund Units 74.08

Birla Sun Life Midcap Fund 21.13

Birla Sun Life Advantage Fund 20.79

Birla Sun Life New Millennium Fund. 12.60

Birla Sun Life Dynamic Bond Fund 8.98

Birla Sun Life Income Fund - Growth 5.52

Birla Sun Life Short Term Fund - Growth 4.08

Birla Sun Life Gilt Plus PF Plan 0.98






Birla Sun Life Midcap Fund - Growth 6.94

Birla Sun Life Advantage Fund - Growth 3.79

Birla Sun Life Dynamic Bond Fund - Retail Plan - Growth 2.80

Birla Sun Life New Millennium Fund - Growth 2.40


Total Net Asset 100

Average AUM

Aggressive Plan : Rs. 7.70 Crores

Moderate Plan : Rs. 4.83 Crores

Conservative Plan : Rs. 5.35 Crores

Benchmark

Aggressive Plan : S&P CNX Nifty

Moderate Plan : Crisil Balanced Fund Index

Conservative Plan : Crisil MIP Blended Index


Sensivity

High

Mid

Low


Sensivity

High

Mid

Low


Sensivity

High

Mid

Low

Credit Quality Credit Quality Credit Quality

Birla Sun Life AAF - Aggressive Plan - Growth S&P CNX Nifty Birla Sun Life AAF - Moderate Plan - Growth Crisil Balanced Fund Index Birla Sun Life AAF - Conservative Plan - Growth Crisil MIP Blended Index


% R

etu

rns

% R

etu

rns

% R

etu

rns

S e p t e m b e r 2 0 0 8


Birla Sun Life Midcap Fund 20.71

Birla Sun Life Dynamic Bond Fund 20.34

Birla Sun Life Advantage Fund 12.03


Birla Sun Life New Millennium Fund. 6.65


Birla Sun Life Gilt Plus Liquid Plan 0.00



#iiiiValue Research Ratingi

Birla Sun Life AAF - ConservativeHybrid: Debt-oriented ( Schemes), 5 Yrs ended -31 3 & 31-Aug 08

28

5.12

10.94 10.86

3.78

7.16

6.43

0

2

4

6

8

10

12

-2

0

2

4

6

8

10

12

14

16

18

-5.16

15.86

18.37

-2.34

22.3021.33

-10

-5

0

5

10

15

20

25

1 Year

3 Years Since Inception

3 Years Since Inception1 Year-0.78

1.21

14.19

15.68 15.66

14.48

3 Years Since Inception1 Year

Birla Sun Life Cash Plus


An open-ended liquid scheme with the objective to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments.


Fund Manager : Mr. Maneesh Dangi & Mr. Satyabrata Mohanty

Date of inception : June 16,1997

Load Structure

Entry Load :

Exit Load : NIL

NIL

Benchmark : Crisil Liquid Fund Index




Asset Allocation

Rating Profile



NAV : Rs.Retail - Growth : 22.5506Retail - Daily Dividend : 16.3694Institutional Plan - Growth : 22.7427Institutional Plan - Daily Dividend : 10.8023Institutional Plan - Weekly Dividend : 10.8121Institutional Plan - Fortnightly Dividend : 10.8451Institutional Premium Plan - Growth : 13.3965Institutional Premium Plan - Daily Dividend : 10.0195Institutional Premium Plan - Weekly Dividend : 10.0275Institutional Premium Plan - Fortnightly Dividend : 10.0000Institutional Premium Plan - Monthly Dividend : 10.0050

Portfolio


Punjab National Bank 7.19 F1+



State Bank of Indore 3.40 P1+

Canara Bank 3.33 P1+

Tata Sons Ltd. 3.18 A1+

ING Vysya Bank Ltd. 3.07 P1+

State Bank of Travancore Ltd. 3.06 A1+

UCO Bank Ltd. 2.46 P1+

Power Finance Corporation Ltd. 2.00 P1+

Citicorp Finance India Ltd. 1.68 P1+

IDBI Bank Ltd. 1.66 A1+

Standard Chartered Bank 1.53 P1+

State Bank of Mysore 1.38 A1+

Reliance Communication Ltd. 1.38 A1+

The Jammu and Kashmir Bank Ltd. 1.04 P1+


ICICI Bank Ltd. 0.90 A1+

State Bank Of Bikaner and Jaipur 0.80 P1+

Allahabad Bank 0.77 A1+

ICICI Home Finance Company Ltd. 0.74 A1+

Indian Bank 0.70 F1+

Tata Sons Ltd. 0.63 P1+

Alembic Ltd. 0.46 P1+

Sundaram Finance Ltd. 0.37 P1+

Development Credit Bank Ltd. 0.37 P1+

ICICI Securities Ltd. 0.36 P1+

State Bank of Travancore 0.30 A1+

Shriram Transport Finance Company Ltd. 0.20 F1+

Federal Bank Ltd. 0.17 P1+

Adlabs Films Ltd. 0.15 A1+

Vijaya Bank 0.15 P1+

State Bank of Hyderabad 0.02 A1+

Floating Rate Instruments 25.81

Housing Development Finance Corporation Ltd. 5.16 AAA

CitiFinancial Consumer Finance India Ltd. 3.38 AAA

Infrastructure Development Finance Company Ltd. 3.12 LAAA

Tata Steel Ltd. 2.30 FAAA

Ultratech Cement Ltd. 2.30 AAA

LIC Housing Finance Ltd. 1.55 AAA

Tata Sons Ltd. 1.15 AAA

Housing Development Finance Corporation Ltd. 1.02 LAAA

Gruh Finance Ltd 0.77 LAA+

Raymond Ltd. 0.77 PR1+

Axis Bank Ltd. 0.60 LAA+

ICICI Bank Ltd. 0.51 AAA

IDBI Bank Ltd. 0.46 CARE AA+

Power Finance Corporation Ltd. 0.44 AAA

ICICI Bank Ltd. 0.38 CARE AAA

Citicorp Finance India Ltd. 0.38 AAA

ICICI Securities Ltd. 0.38 P1+

Indian Railway Finance Corporation Ltd. 0.37 AAA

Infrastructure Development Finance Company Ltd. 0.31 AAA

Hero Honda Finlease Ltd. 0.23 P1+

IDBI Bank Ltd. 0.15 AA+

Union Bank of India 0.07 AA+

Securitised Debt 3.05

Invest 1608-Sr A(IndiaBull)(27-Mar-2009)** 1.55 P1+(SO)

Indian Corp Ln Sec Tr Sr V(A1) 29-MAR-08** 0.62 A1+(SO)

Credit Asset Trust-CLASS A (24-MAR-2009)** 0.46 F1+(SO)

Collateral Debt Tr Sr 20 Sr A1 27 Oct 08** 0.38 P1+(SO)

Collateral Debt Tr Sr 20 Sr A2 27 Oct 08** 0.02 P1+(SO)

Ind Cor Loan Sec Sr-Xlviii A2 11-SEPT-08** 0.01 A1+(SO)

BHPC Auto Sec Trust 15 Oct 2008** 0.01 AAA+(SO)


Indian Oil Corporation Ltd.** 2.00 A1+

Export-Import Bank of India** 0.77 AAA

Corporate Debt 1.38

Rabo India Finance Private Ltd.** 0.38 P1+

Kotak Mahindra Prime Ltd.** 0.38 P1+

Kotak Mahindra Prime Ltd.** 0.31 LAA

CitiFinancial Consumer Finance India Ltd.** 0.23 AAA

DSP Merrill Lynch Capital Ltd.** 0.08 P1+







Sensivity

High

Mid

Low

Credit Quality

#iiiiiValue Research Rating

Birla Sun Life Cash Plus - Institutional PremiumDebt: Ultra Short-term Institutional (56 Schemes), 18 months ended 31-Aug-08

#iiiiiValue Research Rating

Birla Sun Life Cash Plus - RetailDebt: Ultra Short-term ( Schemes), 18 months ended 51 31-Aug-08

CRISIL~CPR 2^^Birla Sun Life Cash Plus - Institutional Premium PlanLiquid Super Institutional Scheme (18 Schemes), 1 Yr ended 30-Jun-08

CRISIL~CPR 2^^Birla Sun Life Cash Plus - Retail Plan

Consistent CPR Performer - Liquid (28 schemes), 5 Yrs ended 30-Jun-08

CRISIL~CPR 2^^Birla Sun Life Cash Plus - Institutional PlanLiquid Institutional Scheme (13 Schemes), 1 Yr ended 30-Jun-08

+The grading has been assigned by ICRA and indicates highest quality. The investment quality is similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.

Birla Sun Life Cash Plus - Retail - Growth Crisil Liquid Fund Index


% R

etu

rns

S e p t e m b e r 2 0 0 8

#iiiiValue Research RatingBirla Sun Life Cash Plus - Institutional

Debt: Ultra Short-term Institutional (56 Schemes), 18 months ended 31-Aug-08

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 7.19%.

29

1.38%

2.76%

3.05%

13.56%

25.81%

53.43%

Corporate Debt

PSU/PFI Bonds/Banks

Securitised Debt


Floating Rate Instruments


2.36%

13.56%

84.08%

AA


AAA0

1

2

3

4

5

6

7

8

9

10

Since Inception3 Months1 Months

7.527.39

8.809.03

8.448.36

9.11

15 Days

Birla Sun Life Liquid Plus




The primary objective of the schemes is to generate regular income through investments in debt and money market instruments. Income may be generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets in fixed income securities, money market instruments, cash and cash equivalents.


Fund Manager : Mr. Maneesh Dangi & Mr. Satyabrata Mohanty Date of inception

Retail Plan : November 27, 2001

Institutional Plan : April 16, 2003NAV : Rs.Retail - Growth : 15.5799Retail - Daily Dividend : 10.0068Retail - Fortnightly Dividend : 10.8717Retail - Monthly Dividend : 10.1487Retail - Weekly Dividend : 10.0213Institutional - Growth : 15.7987Institutional - Dividend : 10.6185Institutional Plan- Daily Dividend : 10.0068Institutional Plan- Weekly Dividend : 10.0219Institutional Plan- Monthly Dividend : 10.1593


Entry Load :

Exit Load : NIL

NIL

Benchmark : CRISIL Short-Term

Bond Fund Index




Asset Allocation

Rating Profile


Sensivity

High

Mid

Low

Credit Quality

Portfolio

Money Market Instruments 55.26Punjab National Bank 9.74 F1+IDBI Bank Ltd. 9.71 P1+ICICI Bank Ltd. 5.57 A1+Allahabad Bank 5.12 A1+State Bank of Bikaner and Jaipur 5.04 P1+State Bank of Patiala 3.19 A1+State Bank of Travancore 2.03 P1+IDBI Bank Ltd. 1.98 A1+Kotak Mahindra Bank Ltd. 1.41 P1+Oriental Bank of Commerce 1.40 P1+Barclays Investments & Loans (I) Ltd. 1.39 A1+Housing Development Finance Corporation Ltd. 1.13 A1+Indiabulls Financial Services Ltd. 1.11 P1+Canara Bank 0.92 P1+Corporation Bank 0.71 P1+Yes Bank Ltd. 0.70 A1+Reliance Capital Ltd. 0.69 A1+Yes Bank Ltd. 0.69 A1+Adlabs Films Ltd. 0.52 A1+State Bank of Hyderabad 0.51 A1+Shriram Transport Finance Company Ltd. 0.40 F1+Axis Bank Ltd. 0.37 P1+State Bank of Indore 0.32 P1+ING Vysya Bank Ltd. 0.15 P1+UCO Bank 0.15 P1+Tata Capital Ltd. 0.12 A1+ABN AMRO Bank 0.11 A1+Unitech Ltd. 0.09 PR1+Karnataka Bank Ltd. 0.01 A1+

Securitised Debt 12.11IND LN SECT 2008 SR 35(A3) BPCL 19 NOV08. ** 2.95 P1+(SO)IND LN SECT 2008 SR 35(A3) BPCL 19 NOV08. ** 2.01 A1+(SO)BVL TRUST (Principal PTC) (20-Feb-2009). ** 1.41 A1+(SO)CLSS 87 TR A2 DLF 09 Feb 09. ** 0.88 A1+(SO)CLSS 25 TR 2009(SERA1) (BPCL) (01SEP09). ** 0.84 P1+(SO)Loan Rec Tr Sep 07 Sr A1 19-Sep-2008. ** 0.75 P1+(SO)

Credit Asset TrustSr XLVIII(A3) 21MAY09. ** 0.57 F1+(SO)CLSS 89 TR A2 DLF 09 Feb 09. ** 0.57 A1+(SO)RB Loan Trust Series X (A) (02-Mar-2009). ** 0.46 F1+(SO)CLSS 86 TR A2 DLF 06 Feb 09. ** 0.44 A1+(SO)Collateral Debt Tr Sr 20 Sr A1 27 Oct 08. ** 0.36 P1+(SO)LOAN SECURITISATION TRUST SERIES 51(4B). ** 0.33 P1+(SO)Ind Ret ABS Trust Ser 49(A4) 18 MAY 2010. ** 0.13 AAA(SO)Loan Sec Trust Sr XVI NTPC (ICICI Bank). ** 0.11 AAA(SO)Cor Debt Tr 08 Sr 4 A2 (HPCL) (21 MAY09). ** 0.11 P1+(SO)BVL TRUST (Interest PTC.) (20-Feb-2009). ** 0.09 A1+(SO)LOAN SECURITISATION TRUST SERIES 51(4A). ** 0.04 P1+(SO)Loan Sec Trust SrXII NTPC (ICICI). ** 0.03 AAA(SO)RB Loan Tr SR III A4-IO Indiabull-2008. ** 0.03 A1+(SO)

Floating Rate Instruments 7.86Housing Development Finance Corporation Ltd. 4.33 AAAHousing Development Finance Corporation Ltd. 1.50 LAAAKotak Mahindra Bank Ltd. 1.33 P1+Indian Railways Finance Corporation Ltd. 0.37 AAATata Sons Ltd. 0.22 AAAIndian Retail ABS Trust Series 50 0.10 AAA(SO)

Corporate Debt 6.10K Raheja Corporation Private Ltd. ** 2.22Mahindra & Mahindra Financial Services Ltd. ** 1.48 P1+Cholamandalam DBS Finance Ltd. ** 1.11 LAAHousing Development Finance Corporation Ltd. ** 0.54 AAASundaram Finance Ltd. ** 0.27 P1+Mahindra & Mahindra Financial Services Ltd. ** 0.22 AA+GE Money Financial Services Ltd. ** 0.17 AAATata Sons Ltd. ** 0.10 AAA

PSU/PFI Bonds/Banks 0.16IDBI Bank Ltd. ** 0.16 AA+






Birla Sun Life Liquid Plus - Retail Growth CRISIL Short-Term Bond Fund Index

% R

etu

rns

S e p t e m b e r 2 0 0 8

30 (Past performance is no guarantee of future results.) for ranking methodology please refer page 42

0.16%

6.10%

7.86%

PSU/PFI Bonds/Banks

Corporate Debt


Securitised Debt



12.11%

18.50%

55.26%

1.49%

2.22%

18.50%

77.79%

AA

Unrated


AAA


Birla Sun Life Liquid Plus Fund - Retail PlanDebt: Liquid Plus (22 Schemes), 18 months & 3 Yrs ended 31-Aug-08

8.44

7.29

6.356.786.72

6.02

5.22

0

1

2

3

4

5

6

7

8

9


Birla Sun Life Short Term Fund




Portfolio

Asset Allocation

Rating Profile

An open-ended short term income scheme with the objective to generate income and capital appreciation by investing 100% of the corpus in a diversified portfolio of debt and money market securities with relatively low levels of interest rate risk.


Fund Manager : Mr. Maneesh Dangi & Mr. Satyabrata Mohanty Date of inception : April 19, 2002

NAV : Rs.Retail PlanGrowth : 15.1658Monthly Dividend : 10.6501Fortnightly Dividend : 10.1081Institutional PlanFortnightly Dividend : 10.0102Monthly Dividend : 10.0898


Entry Load :

Exit Load** : 0.15% for redemption / switch-out

of units within seven (7) days


NIL





Sensivity

High

Mid

Low

Credit Quality

Treasury Bills 50.31

91 Day T-Bill 05 Sept 2008 50.31 Sovereign


State Bank of Bikaner and Jaipur 9.60 P1+





State Bank of Travancore 5.19 P1+

Tata Capital Ltd. 1.34 A1+





Indian Retail ABS Trust Series 50 18 Oct 09 0.65 AAA(SO)

Securitised Debt 0.37

BHPC AutoSec Trust Jun05-Sr. A3 15 Oct 08** 0.37 AAA(SO)





7-Star Gold Award by @ICRABirla Sun Life Short Term Fund - Growth

Liquid Plus Schemes (2 Schemes), 1 year ended 6 31-Dec-07

CRISIL~CPR 2^^Birla Sun Life Short Term Fund - Retail Plan

Debt: Short Term Schemes (19 Schemes), 1 Yrs ended 30-Jun-08


% R

etu

rns

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

S e p t e m b e r 2 0 0 8

CNBC TV-18 CRISIL AWARD 2007Birla Sun Life Short Term Fund

&&

Category: Income – Short Term Funds 1 yr performance ended 31 Dec, ‘07. Total Schemes in Category = 12


Benchmark : CRISIL Short-Term Bond Fund Index

31

0.37%

0.65%

1.68%

1.92%

45.06%

50.31%

Securitised Debt



PSU/PFI Bonds/Banks


Treasury Bills


AAA

Sovereign

8.37

7.89

6.576.766.72

6.02

5.22

5.72

0

1

2

3

4

5

6

7

8

9


48.01%

50.31%

1.68%


Birla Sun Life Short Term Fund - Retail PlanDebt: Short Term Schemes (19 Schemes), 1 yrs & 3 Yrs ended 31-Aug-08

Birla Sun Life Income Plus




Portfolio

** Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 6.37 %

An open-ended income scheme with the objective to generate consistent income through superior yields on its investments at moderate levels of risk through a diversified investment approach.


Fund Manager : Mr. Maneesh DangiDate of inception : October 21, 1995

NAV : Rs.

Growth : 35.0922

Dividend : 10.5235

Benchmark : CRISIL Composite

Bond Fund IndexAverage AUM : Rs. 458.10 Crores



Asset Allocation

Rating Profile



ING Vysya Bank Limited. 6.79 P1+


State Bank of Hyderabad 6.76 A1+


Reliance Communication Ltd. 5.64 A1+

Axis Bank Limited. 5.63 P1+

Jindal Steel & Power Ltd. 4.74 A1+

Karur Vysya Bank Limited. 4.55 F1+

Canara Bank 4.37 P1+


ICICI Bank Limited. 2.15 A1+






Infrastructure Development Financial Corporation. Ltd.** 5.03 AAA

Export-Import Bank of India** 1.04 AAA

Corporate Debt 0.29

Infrastructure Leasing and Financial Services Ltd ** 0.21 LAAA

Reliance Industries Limited.** 0.08 AAA







Entry Load :

Exit Load** : £ Rs 10 Lakhs: 0.75% if redeemed /

switched out with in 180 days from

the date of allotment.

> Rs. 10 Lakhs: Nil

NIL


Sensivity

High

Mid

Low

Credit Quality

Birla Sun Life Income Plus - Growth Crisil Composite Bond Fund Index


% R

etu

rns

#iiValue Research Ratingii

Birla Sun Life Income PlusDebt: Medium-term (52 Schemes), 3 yrs ended 31-Aug-08

CRISIL~CPR 1^^Birla Sun Life Income Plus

Income Scheme (18 Schemes), 1 Yr ended 30-Jun-08

CRISIL~CPR 2^^Birla Sun Life Income Plus

Consistent CPR Performer - Debt (13 schemes), 1 Yr ended 30-Jun-08

S e p t e m b e r 2 0 0 8

@7-Star Gold Award by ICRA

Birla Sun Life Income Plus - GrowthDebt: Long Term (18 Schemes), 1 Year ended 31-Dec-07


32

Corporate Debt

PSU/PFI Bonds/Banks


Government Bond


13.45%

14.30%

72.25%


Sovereign

AAA

8.72

7.32

5.07

10.25

3.96 4.08

3.50

0

2

4

6

8

10

12


65.88%

14.30%

13.45%

6.07%

0.29%

Birla Sun Life Income Fund




Portfolio

An open-ended income scheme with the objective to generate income and capital appreciation by investing 100% of the corpus in a diversified portfolio of debt and money market securities.


Fund Manager : Mr. Satyabrata MohantyDate of inception : March 03, 1997

NAV : Rs.

Growth : 30.0018

Half Yearly - Dividend : 11.2271

Quarterly Dividend : 10.6525

54 EA Growth : 29.9812

54 EA Dividend : 13.2113

54 EB Growth : 29.7924

54 EB Dividend : 13.2252




Asset Allocation

Rating Profile


Power Finance Corporation Limited. 12.33 P1+

Indian Bank 11.76 F1+

State Bank of Indore 11.55 P1+

ING Vysya Bank Limited. 9.24 P1+


National Bank for Agricultural & Rural Development. 8.56 AAA

Allahabad Bank 7.98 A1+

Reliance Communication Limited. 6.14 A1+









Benchmark : CRISIL Composite

Bond Fund Index


Entry Load :

Exit Load** : £ Rs 1 Crore: 1.00% if redeemed

/ switched out with in 365 days


> Rs 1 Crore: Nil

NIL


Sensivity

High

Mid

Low

Credit Quality

Birla Sun Life Income Fund - Growth Crisil Composite Bond Fund Index

CRISIL~CPR 1^^Birla Sun Life Income Fund

Income Scheme (18 Schemes), 2 Yrs ended 30-Jun-08

#iiiiValue Research Ratingi

Birla Sun Life Income FundDebt: Medium Term (52 Schemes), Yrs ended - -03 31 Aug 8


% R

etu

rns

S e p t e m b e r 2 0 0 8

&Best Fund - 3 & 10 yrs performance Lipper Awards India 2008Winner of

Bond INR General, 3 yrs & 10 yrs ended 31-Dec-07 out of 100 & 10 Schemes respectively

Birla Sun Life Income Fund - Growth

CNBC TV-18 CRISIL AWARD 2007Birla Sun Life Income Fund

&&

Category: Income Funds1 yr performance ended 31 Dec, ‘07. Total Schemes in Category = 17


33

7.49%

16.13%

76.38%

7.49%

16.13%

76.38%


Sovereign

AAA

9.32

8.42

6.05

10.03

3.96 4.08

3.50

0

2

4

6

8

10

12



Government Bond


Birla Sun Life Cash Manager



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

An open-ended liquid scheme with the objective to provide current income which is consistent with a portfolio that offers investors superior liquidity by investing 100% in a diversified portfolio of debt (Fixed Income) and money market securities.


Fund Manager : Mr. Maneesh Dangi & Mr. Satyabrata MohantyDate of inception : May 14, 1998

NAV : Rs.

Growth : 20.5438

Weekly Dividend : 10.0114

Institutional Daily Dividend : 10.0030

Institutional Growth : 14.0093

Institutional Weekly Dividend : 10.0116

Load Structure

Entry Load :

Exit Load : NIL

NIL

Benchmark : Crisil Liquid Fund Index Average AUM : Rs. 128.00 Crores



Asset Allocation

Rating Profile

Portfolio



State Bank of Saurashtra 1.87 A1+




Sensivity

High

Mid

Low

Credit Quality

Birla Sun Life Cash Manager - Growth Crisil Liquid Fund Index

% R

etu

rns


UCO Bank 27.56 P1+

Unitech Ltd. 23.11 PR1+


State Bank of India 16.72 P1+


S e p t e m b e r 2 0 0 8

34

#iiiiValue Research Rating

Birla Sun Life Cash ManagerDebt: Ultra Short Term (51 Schemes), Yrs ended - -03 31 Aug 8

10.57%

89.43%



10.57%

89.43%


AAA

8.75 8.68 8.52

7.24

8.44

7.39

7.83

0

1

2

3

4

5

6

7

8

9

10

1 Month 3 Months 6 Months Since Inception


Birla Sun Life Floating Rate Fund

Portfolio - Short Term Plan

The primary objective of the schemes is to generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments. The schemes may invest a portion of its net assets in fixed rate debt securities and money market instruments.


Fund Manager : Mr. Satyabrata Mohanty Date of inception : June 05, 2003

NAV : Rs.Long Term PlanGrowth : 13.9360Monthly Dividend : 10.4564Weekly Dividend : 10.0182Short Term PlanGrowth : 13.7858Daily Dividend : 10.0015Weekly Dividend : 10.3800Institutional Plan-Growth : 11.0925Institutional Plan-Daily Dividend : 10.0086Institutional Plan-Weekly Dividend : 10.0129Institutional Plan-Fortnightly Dividend: 10.0000

BenchmarkLong Term Plan : Crisil Liquid Fund IndexShort Term Plan : Crisil Liquid Fund Index

Average AUMLong Term Plan : Rs. 101.33 CroresShort Term Plan : Rs. 147.45 Crores

Average MaturityLong Term Plan : 0.25 YearsShort Term Plan : 0.23 Years


Investment Performance - Long Term Plan

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

Investment Performance - Short Term Plan

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

Asset Allocation - Long Term Plan Rating Profile - Long Term Plan Asset Allocation - Short Term Plan Rating Profile - Short Term Plan

Portfolio - Long Term Plan




Karur Vysya Bank Ltd. 14.73 F1+


DLF Ltd. 4.71 A1+


Kotak Mahindra Bank Ltd. 9.90 P1+

Housing Development Finance Corp Ltd. 9.90 AAA

Sundaram Finance Ltd. 7.92 LAA+







Housing Development Finance Corporation Ltd. 13.85 AAA

Citicorp Finance India Ltd. 12.22 AAA

LIC Housing Finance Ltd. 12.22 AAA


CitiFinancial Consumer Finance India Ltd. 4.07 AAA

ICICI Bank Ltd. 1.63 AAA



Indiabulls Financial Services Ltd. 7.69 P1+


Karur Vysya Bank Ltd. 3.12 F1+



Load Structure :

Long Term Plan (Incl. for SIP)

Entry Load : Nil

Exit Load** : For any redemption / switch out of

units within 7 days from the date

of allotment :- 0.10%

Short Term Plan

Entry Load : NIL

Exit Load : NIL


Sensivity

High

Mid

Low

Credit Quality

+The grading has been assigned by ICRA and indicates highest quality. The investment quality is similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.

Birla Sun Life Floating Rate Fund - STP - Growth Crisil Liquid Fund IndexBirla Sun Life Floating Rate Fund - LTP - Growth Crisil Liquid Fund Index

% R

etu

rns

% R

etu

rns

#iiiiValue Research Rating

Birla Sun Life Floating Rate Fund - Long Term PlanDebt: Term ( Schemes), Yrs ended - -Floating - Long 12 3 31 Aug 08


S e p t e m b e r 2 0 0 8


35

8.45%

43.47%

48.08%




4.08%

8.45%

87.47%

AA


AAA48.08%

5.75%

32.67%

61.57%




5.75%

12.87%

81.38%


AA

AAA

9.24 9.25 9.08

6.31

8.36 8.44

7.39

5.63

0

1

2

3

4

5

6

7

8

9

109.11

7.53

6.55 6.54

7.366.67

5.7 5.63

0

1

2

3

4

5

6

7

8

9

10

1 Year 3 Years 5 Years Since Inception 15 Days 1 Month 3 Months Since Inception

Birla Sun Life Gilt Plus


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


Fund Manager : Mr. Maneesh Dangi & Mr. Satyabrata Mohanty

Date of inception : October 12, 1999NAV : Rs.Liquid PlanGrowth : 19.9018Quarterly Dividend : 10.6425Annual Dividend : 10.2714PF PlanGrowth : 22.2306Quarterly Dividend : 10.1964Annual Dividend : 19.2891Regular PlanGrowth : 26.5103Quarterly Dividend : 11.2745Annual Dividend : 22.5179

Load Structure (Incl. for SIP):Liquid Plan, Regular Plan & PF Plan-Quarterly / Annual Dividend:Entry Load : NILExit Load : NILPF Plan - Growth:Entry Load : NILExit Load** : 1.00% if redeemed / switched out

within 365 days from date of allotment.

Average AUMLiquid Plan : Rs. 11.53 CroresPF Plan : Rs. 89.65 CroresRegular Plan : Rs. 93.93 Crores

Average MaturityLiquid Plan : 0.00 YearsPF Plan : 1.78 YearsRegular Plan : 2.31 Years


Asset Allocation - PF Plan Asset Allocation - Regular PlanAsset Allocation - Liquid Plan

Investment Performance - Liquid Plan


Investment Performance - PF Plan


Investment Performance - Regular Plan


Portfolio - Liquid Plan Portfolio - PF Plan Portfolio - Regular Plan





Government Bond 17.638.24% GOI 2018 10.79 Sovereign8.24% GOI 2027 6.84 Sovereign




BenchmarkLiquid Plan : I-Sec Si-BEXPF Plan : I-Sec Li-BEXRegular Plan : I-Sec Li-BEX


Sensivity

High

Mid

Low

Credit Quality

CRISIL~CPR 1^^Birla Sun Life Gilt Plus - Regular Plan

Gilt Schemes (14 Schemes), 2 Yrs ended 30-Jun-08

#iiValue Research Ratingiii

Birla Sun Life Gilt Plus - Regular PlanGilt: Medium & Long-term ( Schemes), 18 months & 3 44 Yrs ended 31-Aug-08

Birla sun Life Gilt Plus Liquid Plan - Growth I-Sec Si-BEX Birla Sun Life Gilt Plus PF Plan - Growth I-Sec Li-BEX Birla Sun Life Gilt Plus Regular Plan - Growth I-Sec Li-BEX


% R

etu

rns

% R

etu

rns

% R

etu

rns

Treasury Bills 17.0891 Day T-Bill 05 Sept 2008 17.08 Sovereign

Government Bond 13.868.24% GOI 2018 8.85 Sovereign8.24% GOI 2027 5.01 Sovereign



S e p t e m b e r 2 0 0 8

&Best Fund - 5 yrs Performance Lipper Awards India 2008Winner of

Bond INR General (35 Schemes) 5 yrs ended 31-Dec-07

Birla Sun Life Gilt Plus - Regular - Growth


36

13.86%

17.08%

69.06%

Government Bond

Treasury Bills


17.63%

82.37%

Government Bond


6.86

6.16

5.51

8.05

6.836.62

5.73

0

1

2

3

4

5

6

7

8

9


4.404.67

3.51

9.41

-0.92

3.602.97

-2

0

2

4

6

8

10


7.997.35

5.21

11.59

-0.92

3.602.97

-2

0

2

4

6

8

10

12

14


Cash & Current Assets 100.00%

Birla Sun Life Government Securities Fund


Portfolio - Short Term PlanPortfolio - Long Term Plan

An open-ended Gilt scheme with the objective to provide investors current income consistent with a portfolio invested 100% in securities issued by the Government of India or the State Governments, and the secondary objective is capital appreciation.


Fund Manager : Mr. Maneesh Dangi

Date of inception : October 28, 1999NAV : Rs.

Long Term Plan

Growth : 20.2214

Dividend : 9.9260

Short Term Plan

Growth : 16.9835

Dividend : 10.1743


Entry Load :

Exit Load : NIL

NIL

Benchmark

Long Term Plan : I-Sec Li-BEX

Short Term Plan : I-Sec Si-BEX

Average AUMLong Term Plan : Rs. 1.34 CroresShort Term Plan : Rs. 0.27 Crores

Average MaturityLong Term Plan : 0.00 YearsShort Term Plan : 0.00 Years

Long Term - Investment Style Box

Long Term Plan - Investment Performance


Asset Allocation - Long Term Plan

Short Term Plan - Investment Performance


Asset Allocation - Short Term Plan






Sensivity

High

Mid

Low

Short Term - Investment Style Box


Sensivity

High

Mid

Low

Credit Quality Credit Quality

Birla Sun Life Govt. Sec Fund - LTP - Growth I-Sec Li-BEX Birla Sun Life Govt. Sec Fund - STP - Growth I-Sec Si-BEX

% R

etu

rns

% R

etu

rns

S e p t e m b e r 2 0 0 8




37

-0.07

2.782.37

8.29

-0.92

3.60

2.97

-2

0

2

4

6

8

10

1 Year


4.23

5.11

3.59

6.17

6.836.62

5.73

0

1

2

3

4

5

6

7

8


Cash & Current Assets 100.00%Cash & Current Assets 100.00%

India Advantage Fund Ltd.(For Non-Resident Indians and Eligible Foreign Nationals)


Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.The returns for BSE Sensex are in Indian Rupees while the returns for IAF & MSCI (India) are in US Dollars.

Portfolio

Investment via sub-fund, India Advantage (Offshore) Fund, are stated at market/fair value at the date of determination. Securities listed on a recognised stock exchange are valued at the last quoted closing price on the principal exchange on which the security istraded Non-traded securities are valued at amortised cost and/or fair value as determined in good faith by Birla Sun Life Asset Management Company Limited, India, Conversion Rate: 1 USD = INR 43.79

Asset Allocation

An open-ended growth scheme with the objective of long-term appreciation through investment primarily in equity related securities of companies in India that are run by efficient management, have a sustainable and robust business model and are available at reasonable valuations.


Fund Manager : Mr. Ajay Argal Date of inception : August 8, 1996

NAV $ per Class C Share : 164.13 Benchmark : BSE Sensex and MSCI (India)

Bloomberg Ticker Code : INDADVC MPAUM : USD 119.00 MillionConversion Rate 1 USD : INR 43.79


Investment Performance CAGR Returns (%)

EQUITY INVESTMENTS :

Reliance Industries Limited Petroleum Products 9.14

Bharti Airtel Limited Telecom-Services 5.99

ONGC Limited Oil & Gas 5.54

Infosys Techonologies Limited Software 5.31

HDFC Limited Banks & Financial Services 4.50

BHEL Limited Industrial Capital Goods 4.26

ITC Limited Consumer Non Durables 4.02

ICICI Bank Limited Banks & Financial Services 3.22

AXIS Bank Limited Banks & Financial Services 2.74

Reliance Communications Limited Telecom-Services 2.52

GAIL Limited Oil & Gas 2.48

Hindustan Unilever Limited Consumer Non Durables 2.40

Bank of India Limited Banks & Financial Services 2.28

Oriental Bank of Commerce Limited Banks & Financial Services 2.27

Sun Pharmaceuticals Limited Pharmaceuticals 2.11

Cairns India Limited Oil & Gas 1.96

United Phosphorus Limited Pesticides 1.93

CESC Limited Industrial Capital Goods 1.83

Bharat Electronics Limited Power 1.82

Dr Reddy's Laboratories Limited Pharmaceuticals 1.81

Great Eastern Shipping Corporation Limited Transportation 1.70

Welspun Gujarat Stahon Limited Consumer Non Durables 1.53

Nestle India Limited Ferrous Metals 1.53

Larsen & Toubro Limited Construction 1.52

Reliance Petroleaum Limited Petroleum Products 1.35

Gujarat NRE Coke Limited Mining 1.29

Maharashtra Seamless Limited Ferrous Metals 1.28

Bharti Shipyard Limited Industrial Capital Goods 1.26

Name of the Security Sector Percentageof Portfolio

Name of the Security Sector Percentageof Portfolio

Sintex Industries Limited Industrial Products 1.25

Great Offshore Limited Oil & Gas 1.23

Engineers India Limited Industrial Capital Goods 1.22

TCS Limited Software 1.17

Hero Honda Limited Auto 0.98

Punjab National Bank Banks & Financial Services 0.92

Satyam Computers Limited Software 0.81

Zee Enterprises Limited Media & Entertainment 0.64

Bajaj Auto Limited Auto 0.62

Subex Limited Software 0.57

Balaji Telefilms Limited Media & Entertainment 0.37

CALL & CALL EQUIVALENTS :

Mutual Fund Units Mutual Fund Units 0.00

ICICI Bank FDs Money Market Instruments 1.07

CBLO Money Market Instruments 1.02

Reliance Capital Money Market Instruments 6.52

Ranbaxy Money Market Instruments 0.00

Non-Convertible Debt

Trent Limited Non - Convertible Debt 0.16

TOTAL 98.13

OTHER NET ASSETS (SUB FUND) Cash & Cash Equivalents 2.17

OTHER NET ASSETS (MAIN FUND) Cash & Cash Equivalents -0.30

NET ASSETS 100.00


Large

Mid

Small

Investment Style

India Advantage Fund BSE Sensex MSCI (India)

% R

etu

rns

Morningstar Rating™

iii

S e p t e m b e r 2 0 0 8

Ranked 11th among Top Performing &

Equity Funds in the world by LipperIndia Advantage Fund

Equity Funds (6302 funds), 10 yrs ended 31 Dec 07

“Channel Islands Stock Exchange (CISX)”

Also listed on

INDADVC MP

Bloomberg Ticker Code:

Currently Under Review(Past performance is no guarantee of future results.) for ranking methodology please refer page 42

@@

38

31.4

27.326.2

28.0

17.4

13.1

27.8

14.5

23.1 22.7

12.0

18.0

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

3 Year 5 Year 10 Year Since Inception

1.01

1.24

1.29

1.52

1.60

1.70

1.82

1.93

2.81

3.91

7.86

7.96

8.51

8.57

10.50

10.64

11.21

15.92


Industrial Products

Mining

Construction

Auto

Transportation

Power

Pesticides

Ferrous Metals

Pharmaceuticals

Software


Telecom Services


Petroleum Products

Cash & Cash Equivalents

Oil & Gas

Banks & Financial Services

Dividend History(For select Schemes)S e p t e m b e r 2 0 0 8

# EQUITY SCHEMES Declared Dividend Dividend Face value Cum Dividend NAV on date (%) (Rs. per unit) (Rs.) (Rs. per unit)

EQUITY SCHEMES

Birla Advantage Fund 22-Mar-00 80 8.00 10.00 70.3728-Nov-03 30 3.00 10.00 44.8823-Jan-04 20 2.00 10.00 47.3312-Mar-04 25 2.50 10.00 46.1023-Mar-05 50 5.00 10.00 54.2516-Dec-05 50 5.00 10.00 65.8925-Apr-08 50 5.00 10.00 100.44

325 32.5

Birla Sun Life Dividend Yield Plus 30-May-03 8 0.80 10.00 11.8413-Jun-03 5 0.50 10.00 10.8824-Jul-03 12 1.20 10.00 11.6219-Sept-03 18 1.80 10.00 12.0931-Oct-03 10 1.00 10.00 11.8726-Dec-03 15 1.50 10.00 13.9313-Feb-04 10 1.00 10.00 12.5828-Sep-04 8 0.80 10.00 11.5724-Dec-04 14 1.40 10.00 13.7511-Mar-05 10 1.00 10.00 12.851-July-05 8 0.80 10.00 11.2628-Oct-05 8 0.80 10.00 11.9413-Jan-06 16 1.60 10.00 11.8927-April-06 10 1.00 10.00 13.0710-Oct-06 8 0.80 10.00 11.6730-April-07 8 0.80 10.00 11.201-Nov-07 10 1.00 10.00 12.77

178 17.80

Birla Sun Life Tax Plan 15-Feb-02 10 1.00 10.00 12.4517-Oct-03 15 1.50 10.00 24.8926-Mar-04 15 1.50 10.00 26.9021-Oct-05 40 4.00 10.00 42.1016-Dec-05 40 4.00 10.00 46.5017-Feb-06 40 4.00 10.00 44.5428-Mar-08 60 6.00 10.00 64.23

245 24.50

Birla Sun Life Index Fund 17-Oct-03 56 5.60 10.00 16.1903-Feb-04 16.5 1.65 10.00 11.9923-Mar-07 65 6.50 10.00 21.83

137.5 13.75

Birla Sun Life India GenNext Fund 25-Apr-08 10 1.00 10.00 16.14

Birla Sun Life India Opportunities Fund 04-Feb-00 25 2.50 10.00 28.9714-Jan-03 10 1.00 10.00 12.1627-Feb-04 60 6.00 10.00 18.6926-Oct-04 12.5 1.25 10.00 14.1716-Sep-05 40 4.00 10.00 14.90

147.5 14.75

Birla Sun Life Midcap Fund 19-Jun-03 10 1.00 10.00 11.8322-Jul-03 10 1.00 10.00 11.8124-Dec-03 60 6.00 10.00 18.358-Oct-04 12.5 1.25 10.00 13.7228-Jan-05 10 1.00 10.00 14.753-Feb-06 20 2.00 10.00 22.5922-Dec-06 35 3.50 10.00 25.9428-Dec-07 60 6.00 10.00 40.50 27-Jun-08 20 2.00 10.00 20.85

242.5 24.25

Birla Sun Life MNC Fund 5-Feb-00 25 2.50 10.00 0.0022-Feb-02 40 4.00 10.00 27.1629-Aug-03 50 5.00 10.00 30.5818-Jan-05 50 5.00 10.00 42.8026-Aug-05 75 7.50 10.00 41.05

240 24.00

Birla Sun Life Basic Industries Fund 31-Mar-04 25 2.50 10.00 25.7007-Oct-04 20 2.00 10.00 25.0224-Mar-06 100 10.00 10.00 35.0819-Jan-07 105 10.50 10.00 39.60 25-Apr-08 20 2.00 10.00 36.36

295 29.50

Birla Sun Life Buy India Fund 28-Mar-06 75 7.50 10.00 17.54

Birla Sun Life Equity Fund 30-Sept-99 30 3.00 10.00 25.8628-Mar-00 50 5.00 10.00 51.0829-Sept-00 25 2.50 10.00 28.6520-Mar-01 10 1.00 10.00 18.9728-Sept-01 10 1.00 10.00 12.7920-Mar-02 10 1.00 10.00 17.1321-Oct-02 5 0.50 10.00 14.0724-Mar-03 5 0.50 10.00 14.3730-Sept-03 10 1.00 10.00 22.9608-Mar-04 30 3.00 10.00 30.9120-Oct-04 10 1.00 10.00 30.0210-Feb-06 50 5.00 10.00 58.9423-Mar-07 100 10.00 10.00 74.4531-Aug-07 100 10.00 10.00 79.98

445 44.50

Birla Sun Life Frontline Equity Fund 31-Mar-04 20 2.00 10.00 18.4814-Oct-04 10 1.00 10.00 16.8027-Feb-06 80 8.00 10.00 28.8828-Aug-06 60 6.00 10.00 23.5629-Jun-07 40 4.00 10.00 23.8608-Aug-08 20 2.00 10.00 20.48

230 23.00

Birla Sun Life New Millennium Fund 27-Jun-08 10 1.00 10.00 14.43

Birla Sun Life Tax Relief ‘96 27-Apr-06 500 50.00 10.00 224.518-Dec-06 250 25.00 10.00 193.9419-Jan-07 260 26.00 10.00 176.5416-Mar-07 500 50.00 10.00 134.27 25-Mar-08 200 20.00 10.00 106.74 27-Jun-08 50 5.00 10.00 71.86

2160 216.00

Birla Sun Life Top 100 Fund 30-May-08 15 1.50 10.00 15.894

Sun Life Total dividend declared

since inception (Feb 24, 1995) = 325%

Total dividend declared



since inception (Aug 27, 1998) = 445%


since inception (Dec 27, 1999) = 147.50%


since inception (Dec 27, 1999) = 240%


since inception (Oct 3, 2002) = 242.50%



Total dividend declared since inception (Sept 18, 2002) = 137.5%


since inception (Aug 30, 2002) = 240%


since inception (Jan 15, 2000) = 295%


since inception (Mar 29, 1996) = 2160%

After payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance is no guarantee of future results. 39


HYBRID & MONTHLY INCOME SCHEMES

# DEBT SCHEMES Date Face Value Dividend Dividend Cum Dividend NAV

(%) (Rs. per unit) (%) (Rs. per unit) (Rs. per unit)

#Dividend Dividend

Non Corporate Corporate

Birla Sun Life Balance 17-Oct-03 10.00 15 1.50 - - 13.3220-Jan-06 10.00 50 5.00 - - 15.13

65 6.50

Birla Sun Life MIP (Monthly Dividend Plan) 27-July-07 10.00 1.120 0.1120 1.043 0.1043 11.540331-Aug-07 10.00 0.958 0.0958 0.892 0.0892 11.406328-Sep-07 10.00 1.139 0.1139 1.060 0.1060 11.583326-Oct-07 10.00 1.196 0.1196 1.113 0.1113 11.684430-Nov-07 10.00 1.455 0.1455 1.354 0.1354 11.552628-Dec-07 10.00 1.147 0.1147 1.068 0.1068 11.6693 25-Jan-08 10.00 1.204 0.1204 1.120 0.1120 11.3399 29-Feb-08 10.00 0.847 0.0847 0.788 0.0788 10.9853 28-Mar-08 10.00 0.682 0.0682 0.635 0.0635 10.6837 25-Apr-08 10.00 0.641 0.0641 0.597 0.0597 10.6054

30-May-08 10.00 0.796 0.0796 0.741 0.0741 10.4906 27-Jun-08 10.00 0.123 0.0123 0.114 0.0114 10.0146 29-Aug-08 10.00 0.228 0.0228 0.212 0.0212 10.0638

Birla Sun Life MIP II - Savings 5 Plan 26-Sep-07 10.00 0.647 0.0647 0.602 0.0602 10.1926(Monthly Dividend Plan) 26-Oct-07 10.00 0.771 0.0771 0.717 0.0717 10.1991

30-Nov-07 10.00 0.871 0.0871 0.810 0.0810 10.199328-Dec-07 10.00 0.696 0.0696 0.648 0.0648 10.1729 25-Jan-08 10.00 0.640 0.0640 0.599 0.0599 10.1664 29-Feb-08 10.00 0.620 0.0620 0.577 0.0577 10.1916 27-Mar-08 10.00 0.520 0.0520 0.484 0.0484 10.1802 25-Apr-08 10.00 0.529 0.0529 0.492 0.0492 10.1977

30-May-08 10.00 0.836 0.0836 0.778 0.0778 10.2327 25-Jun-08 10.00 0.546 0.0546 0.508 0.0508 10.1996 25-Jul-08 10.00 0.521 0.0521 0.485 0.0485 10.2026

13-Aug-08 10.00 0.402 0.0402 0.374 0.0374 10.1890 28-Aug-08 10.00 0.140 0.0140 0.130 0.0130 10.6778

Birla Sun Life MIP II - Wealth 25 Plan 25-May-07 10.00 0.629 0.0629 0.585 0.0585 11.0915(Monthly Dividend Plan) 29-Jun-07 10.00 0.756 0.0756 0.704 0.0704 11.2535

27-July-07 10.00 1.126 0.1126 1.048 0.1048 11.565831-Aug-07 10.00 0.962 0.0962 0.895 0.0895 11.349328-Sep-07 10.00 1.133 0.1133 1.054 0.1054 11.554326-Oct-07 10.00 1.193 0.1193 1.110 0.1110 11.624130-Nov-07 10.00 1.446 0.1446 1.346 0.1346 11.525528-Dec-07 10.00 1.145 0.1145 1.066 0.1066 11.7620 25-Jan-08 10.00 1.214 0.1214 1.130 0.1130 11.2126 29-Feb-08 10.00 0.837 0.0837 0.779 0.0779 10.7279 28-Mar-08 10.00 0.666 0.0666 0.620 0.0620 10.3049 25-Apr-08 10.00 0.620 0.0620 0.577 0.0577 10.3476

30-May-08 10.00 0.777 0.0777 0.723 0.0723 10.2064

Birla Sun Life '95 Fund 30-Jun-99 10.00 20 2.00 - - 26.7828-Mar-00 10.00 50 5.00 - - 64.4413-Oct-00 10.00 30 3.00 - - 39.8509-Mar-01 10.00 20 2.00 - - 33.5015-Oct-01 10.00 20 2.00 - - 25.7026-Mar-02 10.00 20 2.00 - - 29.9930-Oct-02 10.00 10 1.00 - - 26.0128-Mar-03 10.00 10 1.00 - - 27.0010-Oct-03 10.00 10 1.00 - - 38.5922-Mar-04 10.00 30 3.00 - - 42.3125-Oct-04 10.00 20 2.00 - - 43.0210-Mar-06 10.00 25 2.50 - - 68.53 30-May-08 10.00 50 5.00 - - 97.61

325 32.50

Birla Sun Life Monthly Income - 31-May-07 10.00 0.673 0.0673 0.626 0.0626 10.8253 29-Jun-07 10.00 0.622 0.0622 0.579 0.0579 10.848031-July-07 10.00 1.152 0.1152 1.072 0.1072 11.156231-Aug-07 10.00 0.744 0.0744 0.692 0.0692 11.017728-Sep-07 10.00 1.345 0.1345 1.251 0.1251 11.182031-Oct-07 10.00 1.632 0.1632 1.519 0.1519 11.265730-Nov-07 10.00 1.401 0.1401 1.304 0.1304 11.099531-Dec-07 10.00 1.221 0.1221 1.136 0.1136 11.3372 31-Jan-08 10.00 0.750 0.0750 0.698 0.0698 10.8881 29-Feb-08 10.00 0.677 0.0677 0.630 0.0630 10.7070 31-Mar-08 10.00 0.712 0.0712 0.663 0.0663 10.3796 30-Apr-08 10.00 0.668 0.0668 0.622 0.0622 10.4731

30-May-08 10.00 0.786 0.0786 0.731 0.0731 10.3396

Birla Sun Life Monthly Income - 30-Mar-07 10.00 1.710 0.1710 1.593 0.1593 11.1777Quarterly Dividend 29-Jun-07 10.00 0.622 0.0622 0.579 0.0579 10.8480

02-July-07 10.00 2.375 0.2375 2.210 0.2210 11.537828-Sep-07 10.00 2.856 0.2856 2.658 0.2658 11.831031-Dec-07 10.00 2.856 0.2856 2.658 0.2658 12.2011 31-Mar-08 10.00 2.593 0.2593 2.413 0.2413 11.1765 30-Jun-08 10.00 1.901 0.1901 1.769 0.1769 10.6399

After payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance is no guarantee of future results.



Total dividend declared since inception (Oct 12, 1999) = 65%

40

Monthly Dividend


DEBT SCHEMES

Birla Sun Life Short Term 15-Dec-06 10.00 1.552 0.1552 1.446 0.1446 10.2120Opportunities Fund 15-Mar-07 10.00 1.546 0.1546 1.440 0.1440 10.2859

15-Jun-07 10.00 1.656 0.1656 1.541 0.1541 10.270617-Sep-07 10.00 1.706 0.1706 1.588 0.1588 10.247917-Dec-07 10.00 1.875 0.1875 1.745 0.1745 10.2193 17-Mar-08 10.00 1.162 0.1162 1.082 0.1082 10.1370 16-Jun-08 10.00 1.162 0.1162 1.082 0.1082 10.1379

Birla Sun Life Dynamic Bond Fund - Retail - 04-Feb-08 10.00 0.419 0.0419 0.390 0.0390 10.4390Quarterly Dividend 29-Apr-08 10.00 0.896 0.0896 0.834 0.0834 10.6277

28-May-08 10.00 0.633 0.0633 0.589 0.0589 10.5977 02-Jul-08 10.00 0.682 0.0682 0.635 0.0635 10.6122

29-Aug-08 10.00 1.330 0.1330 1.238 0.1238 10.7048

Birla Sun Life Gilt Plus - Liquid Plan - 15-Sep-06 10.00 1.082 0.1082 1.008 0.1008 10.7193(Quarterly Dividend) 15-Mar-07 10.00 1.725 0.1725 1.607 0.1607 10.7938


Birla Sun Life Gilt Plus - PF Plan 15-Sep-06 10.00 1.228 0.1228 1.143 0.1143 10.6422(Quarterly Dividend) 15-Mar-07 10.00 1.614 0.1614 1.503 0.1503 10.5853


Birla Sun Life Gilt Plus - Regular Plan 15-Sep-06 10.00 1.377 0.1377 1.282 0.1282 11.0538(Quarterly Dividend) 15-Mar-07 10.00 1.693 0.1693 1.576 0.1576 11.1679


Birla Sun Life Income Plus 15-Dec-06 10.00 1.537 0.1537 1.431 0.1431 10.3281(Monthly Dividend) 15-Mar-07 10.00 0.930 0.0930 0.866 0.0866 10.1064


Birla Sun Life Govt. Securities - 15-Mar-07 10.00 3.113 0.3113 2.899 0.2899 10.4817Long Term Dividend 17-Sep-07 10.00 3.162 0.3162 2.943 0.2943 10.3774

17-Mar-08 10.00 0.480 0.0480 0.447 0.0447 10.0548

Birla Sun Life Govt. Securities - 15-Sep-06 10.00 0.978 0.0978 0.911 0.0911 10.1559Short Term Dividend 15-Mar-07 10.00 1.440 0.1440 1.341 0.1341 10.3702


Birla Sun Life Income Fund- 15-Mar-07 10.00 3.191 0.3191 2.971 0.2971 10.8886Half Yearly Dividend 17-Sep-07 10.00 3.758 0.3758 3.497 0.3497 11.2454

17-Mar-08 10.00 4.752 0.4752 4.423 0.4423 11.6359

Birla Sun Life Income Fund - 26-Jun-06 10.00 0.148 0.0148 0.137 0.0137 10.2581Quarterly Dividend 15-Mar-07 10.00 1.552 0.1552 1.446 0.1446 10.3444


Birla Sun Life Liquid Plus - 27-Jun-08 10.00 0.536 0.0536 0.499 0.0499 10.1271Institutional Monthly Dividend 25-Jul-08 10.00 0.546 0.0546 0.508 0.0508 10.1340

29-Aug-08 10.00 0.710 0.0710 0.660 0.0660 10.1593

Birla Sun Life Liquid Plus - 27-Jun-08 10.00 0.523 0.0523 0.487 0.0487 10.1181Retail Monthly Dividend 25-Jul-08 10.00 0.550 0.0550 0.512 0.0512 10.1269

29-Aug-08 10.00 0.687 0.0687 0.639 0.0639 10.1487

Birla Sun Life Short Term Fund - 27-Jun-08 10.00 0.402 0.0402 0.374 0.0374 10.5983 Monthly Dividend 25-Jul-08 10.00 0.532 0.0532 0.495 0.0495 10.6212

29-Aug-08 10.00 0.727 0.0727 0.677 0.0677 10.6501

Non Corporate Corporate

# DEBT SCHEMES Date Face Value Dividend Dividend Cum Dividend NAV (%) (Rs. per unit) (%) (Rs. per unit) (Rs. per unit)

#Dividend Dividend

After payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance is no guarantee of future results. 41

Methodology of RankingS e p t e m b e r 2 0 0 8

Ranking Source: Crisil FundServices, CRISIL Limited

Birla Sun Life ‘95 Fund – Growth (BSL‘95): Best Fund - 10 yr performance (1997 - 2007), Mixed Asset INR Aggressive, No. of schemes: 6Birla Sun Life Income Fund - Growth (BSLIF): Best Fund - 3yr (2004 - 2007) & 10 yr (1997 - 2007) performance, Bond INR - General, No. of schemes: 100Birla Sun Life Gilt Plus - Regular Growth (BSLGP-Reg): Best Fund - 5 yr performance (2002 - 2007), Bind INR Govt, No. of Schemes: 35Birla Sun Life Tax Relief '96 (BSLTR'96): 3rd Rank (Top Performing Equity funds in the world) - 10 yr performance (1997 - 2007), Equity Funds, No. of Schemes: 6302BSL’95, BSLIF & BSLGP - Reg are awarded the Lipper Award 2008 and BSLTR’96 has been ranked 3rd among the top 100 equity funds in the world on the basis of Consistent Return (Effective Return) value. Entry/Exit load not considered. Ranking source: Lipper - A Reuter Co.

Standard & Poor’s A: The fund demonstrates high standards of quality based on its investment process, risk awareness and consistency of performance relative to its own objectives. Ranking Methodology: The Fund has provided consistent, above average, risk-adjusted returns relative to its peers over a three-year period ending December 31, 2006. The Fund is assessed by S&P on basis of quantitative factors viz. historical performance for consistency, discrete period performance comparisons and measurement over 3 discrete twelve-month periods, including 6 month moving average size, turnover, dealing, liquidity of portfolio, gearing, client base, cost, fees and on evaluation of qualitative factors viz. fund management group, portfolio manager and investment team that contributes to long term performance.

Birla Sun Life Mutual Fund - Mutual Fund of the Year: Birla Sun Life Mutual Fund won the CNBC TV18 - CRISIL Mutual Fund of the Year Award in the Category – Mutual Fund of the Year. In total 26 fund houses were eligible for the award universe. Fund Houses winning at least two awards for their schemes in the category level awards for 2007 were considered for the award. The award is based on consistency of fund house’s performance across various scheme categories in the four quarterly CRISIL CPR rankings released during the calendar year 2007. The individual CRISIL CPR ranks for their schemes were aggregated on a weighted average basis to arrive at the final ranks for fund houses.Birla Sun Life Infrastructure Fund – Growth - Emerging Equity Fund of the Year: Birla Infrastructure Fund - Growth was the only scheme that won the CNBC TV18 - CRISIL Mutual Fund of the Year Award in the Emerging equity Fund of the year category. In total 14 schemes were eligible for the award universe. Open ended equity schemes having a one to two year track record as on December 31, 2007 and fulfilling CRISIL’s eligibility criteria on disclosure were considered for the award. The award is based on the scheme’s performance using the analytical approach of the CRISIL CPR rankings having the analysis period as the year 2007. Birla Sun Life Frontline Equity Fund - Growth(Large Cap Oriented Equity Fund), 22 Schemes: Among 2 winnersBirla Sun Life Income Fund (Income Funds), 17 schemes: Only winnerBirla Sun Life Monthly Income (Monthly Income Plans – Conservative), 9 schemes: Only winnerBirla Sun Life Short Term Fund (Income – Short Term Funds), 12 schemes: Only winnerSchemes present in all four quarter CRISIL CPRs were considered for the award. The award is based on consistency of scheme’s performance in the four quarterly CRISIL CPR rankings released during the calendar year 2007. The individual CRISIL CPR parameter scores averaged for the four quar ters were further multiplied by the parameter weight as per the CRISIL CPR methodology to arrive at the final scores. A detailed methodology of the CRISIL CPR is available at www.crisil.com. Past performance is no guarantee of future results. Rankings and Award Source: CRISIL FundServices, CRISIL Ltd.

& Lipper Awards 2008 – Award Methodology & Disclaimer

@@ S & P Fund Management Rating

&&CNBC TV18 - CRISIL Mutual Fund of the Year Award for 2007 - Award Methodology & Disclaimer

Parameters Scheme CategorySuperior Return Score Large Cap Oriented Equity, Diversified Equity, ELSS, Balanced, Debt, MIP (Aggressive &

Conservative), Gilt-Long and Consistent CPR Performers – Equity, Balanced and DebtMean Return and Volatility Debt-Short, Liquid Plans & Consistent CPR Performers - LiquidPortfolio Concentration Analysis All SchemesLiquidity Analysis All SchemesAsset Quality Debt SchemesAverage Maturity Debt SchemesDownside Risk Probability Debt- Short Term, Liquid, Liquid Plus, Liquid- Institutional & Super InstitutionalAsset Size Debt- Short Term, Liquid, Liquid Plus, Liquid- Institutional & Super InstitutionalHistoric performance on CRISIL~CPR Consistent CPR Performer – Equity, Balanced, Debt and Liquid categories

#Value Research Ratings

@ ICRA – Ranking Methodology and Disclaimer

+ ICRA mfAAA and mfA1+ Rating Methodology for Birla Floating Rate (Short Term & Long Term) and Birla Cash Plus Respectively

* AAAf: CRISIL AAAf Rating Methodology for Birla Sun Life Liquid Plus, Birla Sun Life Income Plus and Birla Sun Life Cash Manager, Birla Sun Life Income Fund

^^Crisil CPR – Ranking Methodology & Disclaimer

The Ratings are a Composite Measure of historical Risk-Adjusted Returns. For Equity and Hybrid Funds, Ratings for the two time periods (3 and 5 years) are combined to give a single assessment of each fund’s risk rating vis-à-vis other funds in the category. For Debt funds and Long & Medium-term Gilt funds, the Ratings are arrived at by combining the assessment for 2 time periods (18 months and 3 years), based on weekly risk-adjusted performance. For Short-term and Ultra Short-term debt funds and Short-term Gilt funds, the Ratings are based on 18-month weekly risk-adjusted performance, relative to the other funds in category. Entry/Exit Loads not considered.5-stars indicate that fund is in top 10% of its category. 4-stars indicate that fund is in next 22.5% of its category. Following is the number of schemes in each category: Equity Diversified (217), Equity: Index (25), Equity Tax Planning (30), Hybrid: Equity Oriented (32), Hybrid: Debt Oriented (31), Hybrid: Monthly Income (38), Debt: MT (52), Debt: ST (24), Debt: Ultra ST (51), Debt: Ultra ST-Inst. (56), Debt: Floating Rate ST (13) Debt: Floating Rate LT (12), Gilt: Medium and LT (44), Gilt: ST (16). Fund Ratings are as on 31 Aug’08. Ranking Source: www.valueresearchonline.com

Birla Sun Life Short Term Fund - Growth (Category: Liquid Plus Scheme, No of Schemes = 26) & Birla Sun Life Income Plus - Growth (Category: Debt Long Term, No of Schemes = 18) are ranked 7 - Star at ICRA Mutual Funds Awards 2007 for 1 yr performance for period ended 31 Dec. ’07. Ranks are based on in-depth analysis of critical parameters, including: risk-adjusted performance; portfolio concentration characteristics; liquidity; corpus size; average maturity; and portfolio turnover. Entry/Exit Loads not considered. Ranking Source & Publisher: ICRA Online.

Birla Sun Life Floating Rate Fund – Short Term Plan & Birla Sun Life Floating Rate Fund – Long Term Plan: The credit risk rating assigned to the schemes is mfAAA. The rating is the highest-credit-quality rating assigned by ICRA to debt funds. Birla Sun Life Cash Plus: The credit risk rating assigned to the scheme is mfA1+. The highest-credit-quality short-term rating assigned by ICRA to debt funds.Rating methodology used by ICRA is based on evaluating the inherent credit quality of the funds portfolio. As a measure of the credit quality of a debt fund’s assets, ICRA uses the concept of ”credit scores”, based on ICRA’s assessment of credit risk associated with each exposure of the portfolio taking into account its maturity, investment objectives and policies, its management characteristics and the creditworthiness of its investment portfolio. ICRA reviews relevant fund information on an ongoing basis to support its published rating opinions. Source: ICRA Ltd.

AAAf The fund’s portfolio holdings provide very strong protection against losses from credit defaults.The credit quality ratings are based on an analysis of the fund’s investment philosophy, its management, investment strategies, operational policies and internal controls. Credit quality incorporates the credit risk of securities and the counter-party risk involved in transactions CRISIL has developed a Credit Quality Matrix to evaluate a bond fund’s overall level of protection against losses associated with credit default. The matrix is a set of credit factors & credit scores derived scientifically from CRISIL’s rating default and transition rates over past ten years. Ranking source: CRISIL FundServices, CRISIL Ltd.

Birla Sun Life Equity Fund: CRISIL~CPR 1 - in Consistent CPR Performer - Equity (24 Schemes)Birla Sun Life Basic Industries Fund: CRISIL~CPR 2 - in Diversified Equity Scheme Category (86 schemes)Birla Sun Life Balance: CRISIL~CPR 2 - in Balanced Schemes Category (16 Schemes)Birla Sun Life Frontline Equity Fund: CRISIL~CPR 2 -In Diversified Equity Scheme Category (87 Schemes). Birla Sun Life Income Fund: CRISIL~CPR 1 - Income Scheme Category (20 Schemes)Birla Sun Life Income Plus: CRISIL~CPR 2 - Consistent CPR Performer - Debt (13 Schemes)Birla Sun Life Monthly Income: CRISIL~CPR 2 - MIP Conservative Scheme Category (9 schemes)Birla Sun Life Short Term Fund - Retail Plan: CRISIL~CPR 1 - Debt Short Term Scheme Category (18 Schemes).Birla Sun Life Cash Plus - Institutional: CRISIL~CPR 2 - Liquid Inst. Scheme Category (9 schemes)Birla Sun Life Cash Plus - Institutional Premium: CRISIL~CPR 2 - Liquid Super Inst. Scheme Category (16 Schemes).Birla Sun Life Cash Plus - Retail Plan: CRISIL~CPR 2 Consistent CPR Performer - Liquid (28 Schemes)Birla Sun Life Gilt Plus - Regular Plan: CRISIL~CPR 1 - Gilt Scheme Category (14 schemes)Birla Sun Life Income Plus: CRISIL~CPR1 - Income Scheme Category (20 schemes)Birla Sun Life Infrastructure Fund: CRISIL~CPR 2 - in Diversified Equity Scheme Category (86 schemes)CRISIL~Composite Performance Ranking - (CRISIL~CPR) is the relative performance ranking of mutual fund schemes within the peer group. The criteria used for computing the ranking are AUM in excess of category cut-off limits & portfolio disclosure and performance in case of Liquid Plans, Floating Rate and Debt-Short Term – Last 1 years; All other Schemes – Last 2 years and 5 yrs CPR track record for consistent CPR Performers. Fund Ratings are as on 30 June ’08. Ranking is done on the following parameters depending on scheme category.CRISIL~CPR 1 - indicates “Very Good" performance & ranks within top 10% of the respective category.CRISIL~CPR 2 - indicates “Good" performance & ranks within top 30% of the respective category.

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BIRLA SUN LIFE ASSET MANAGEMENT COMPANY LTD. BRANCHES

Disclaimer: Any information contained in this publication does not constitute and shall be deemed not to constitute an advice, an ofLtd./ its subsidiaries / affiliates / sponsors / trustee or their officers, employees, personnel, directors shall not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising from the use or access of any information that may be displayed in this publication from time to time. Recipients of the information contained herein should exercise due care and caution and read the offer documents (including if necessary, obtaining the advice of tax / legal / accounting / financial / other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained herein.

Editorial opinions expressed in the 'Connect' are not necessarily those of Birla Sun Life AMC Ltd. or any of their officers, employees, personnel, directors and Birla Sun Life AMC Ltd. and its officers, employees, personnel, directors do not accept responsibility for the editorial content. Birla Sun Life AMC Ltd. or any of its officers, employees, personnel, directors make no representation as to the accuracy, completeness or reliability of the editorial content and hereby disclaim any liability with regard to the same.

fer to sell/ purchase or as an invitation or solicitation to do so for any securities of any entity, and further, Birla Sun Life AMC

Statutory Details: Constitution: Birla Sun Life Mutual Fund (BSLMF) has been set up as a Trust under the Indian Trust Act, 1882. Sponsors: Aditya Birla Nuvo Limtied and Sun Life (India) AMC Investments Inc. (liability restricted to seed corpus of Rs. 1 Lac). Trustee: Birla Sun Life Trustee Company Pvt. Ltd. Investment Manager: Birla Sun Life Asset Management Company Ltd.Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsor / Investment Manager / Mutual Fund does not indicate the future performance of the Schemes and may not necessarily provide a basis of comparison with other investments. The names of the Schemes do not, in any manner, indicate either the quality of the Schemes or their future prospects or returns. Unitholders in the schemes are not being offered any guaranteed/assured returns. Investors should read the Offer Document/ Key Information Memorandum available at Investor Service Centers and with distributors carefully before investing.

The Material provided in the Connect cannot be reproduced or quoted anywhere without express permission from Birla Sun Life Asset Management Company Ltd.

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AJMER : 9983318002

ALLAHABAD : 0532-2427014 / 15 /3201661

AURANGABAD : 0240-6453599

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LUCKNOW : 0522-409 4110 / 11 / 323 6000

LUDHIANA : 0161-508 8847 / 277 1217

MADURAI : 0452-2382566 / 67

MUMBAI (FORT) : 022-6637 9999

MUMBAI (GHATKOPAR) : 022-3268 1373

MUMBAI (HEAD OFFICE) : 022-6692 8000

MUMBAI (PRABHADEVI) : 022-6666 1035 / 36

MYSORE : 0821-4244400 / 1 / 2

NAGPUR : 0712-663 0899 / 4300

NASHIK : 0253-657 3474 / 320 1125

NEW DELHI : 011-2332 3070

PATNA : 0612-220 7022 / 23 / 389 0873

PUNE : 020-66011865 / 66 / 67

RAIPUR : 0771-4266894

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SURAT : 0261-658 1707 / 1708

UDAIPUR : 9828215143

VARANASI : 0542-222 7755 / 56

THANE : 022-67930660 / 61

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NFO opens 15th Sept ,2008 ? NFO closes 14th Oct , 2008

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