Religare Invesco Mutual Fund_feb_2014

1

Factsheet

Strengthenyour portfolio with

Religare Invesco.

Equity Funds Debt FundsReligare Invesco Liquid Fund

Religare Invesco Ultra Short Term Fund

Religare Invesco Short Term Fund

Religare Invesco Credit Opportunities Fund

Religare Invesco Medium Term Bond Fund

Religare Invesco Active Income Fund

Religare Invesco Bank Debt Fund

Religare Invesco Overnight Fund

Religare Invesco Gilt Fund

Exchange Traded FundsReligare Invesco Gold Exchange Traded Fund

Religare Invesco Nifty Exchange Traded Fund

Fund of Funds Religare Invesco Pan European Equity Fund

Religare Invesco Gold Fund

Religare Invesco Tax Plan

Religare Invesco PSU Equity Fund

Religare Invesco Contra Fund

Religare Invesco Mid Cap Fund

Religare Invesco Arbitrage Fund

Religare Invesco Growth Fund

Religare Invesco Equity Fund

Religare Invesco Banking Fund

Religare Invesco Business Leaders Fund

Religare Invesco Infrastructure Fund

Religare Invesco Mid N Small Cap Fund

Hybrid FundsReligare Invesco Monthly Income Plan (MIP) Plus

Religare Invesco Monthly Income Plan

February 2014

Average Assets Under Management for the quarter ending December 2013: `13,706.16 Crores

1

Scheme / Benchmark NAV as on Dec. 31, 2013

(`)

Dec. 31, 2012 - Dec. 31, 2013

(Absolute )

Dec. 30, 2011 - Dec. 31, 2012

(Absolute )

Dec. 31, 2010 - Dec. 30, 2011

(Absolute )

Since Inception

(CAGR ) Current Value of `10,000

Fund Manager : Sujoy Das

Religare Invesco Short Term Fund 1663.5623 6.57% 10.76% 9.60% 7.79% 16,636

Religare Invesco Short Term Fund - Plan B 1657.2822 6.22% 10.13% 9.13% 7.73% 16,573

CRISIL Short Term Bond Fund Index - 8.27% 9.10% 7.84% 7.85% 16,698

CRISIL 1 Year T-Bill Index1 - 5.86% 8.06% 6.42% 5.81% 14,670

Religare Invesco Active Income Fund 1449.5877 5.60% 10.40% 9.19% 5.95% 14,496

CRISIL Composite Bond Fund Index - 3.79% 9.33% 6.90% 6.32% 14,822

CRISIL 10 year Gilt Index1 - -0.68% 10.61% 1.91% 5.32% 13,949

Religare Invesco Active Income Fund - Plan B2 1303.9969 5.20% 9.43% 8.98% 4.79% 13,272



Religare Invesco Gilt Fund - Short Duration Plan 1393.4353 15.00% 6.88% 5.91% 5.79% 13,934

I-Sec Si-BEX - 7.25% 9.00% 7.61% 7.78% 15,554


Religare Invesco Gilt Fund - Long Duration Plan 1248.9489 0.85% 7.09% 5.09% 3.84% 12,489

I-Sec Li- BEX - 1.38% 12.78% 6.08% 6.82% 14,757


Religare Invesco Overnight Fund 1474.9282 9.78% 8.93% 6.81% 6.36% 14,749

CRISIL Liquid Fund Index - 9.03% 8.49% 8.15% 7.32% 15,607

CRISIL 91 Day T-Bill Index1 - 8.28% 8.62% 6.19% 5.92% 14,368

Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Nitish Sikand

Religare Invesco Credit Opportunities Fund 1423.8762 9.59% 10.22% 9.77% 8.47% 14,239

Religare Invesco Credit Opportunities Fund - Regular 1375.2839 8.02% 9.16% 8.91% 7.60% 13,753

CRISIL Short Term Bond Fund Index - 8.27% 9.10% 7.84% 7.31% 13,590


Religare Invesco Medium Term Bond Fund 1249.7612 6.11% 8.81% 8.05% 7.69% 12,498



Religare Invesco Gold Exchange Traded Fund 2671.8748 -10.92% 10.96% 30.86% 12.95% 15,904

Price of Gold - -10.07% 12.06% 32.21% 14.04% 16,500

Religare Invesco Gold Fund 9.6504 -7.61% 11.20% - - -

Price of Gold - -10.07% 12.06% - - -

Religare Invesco Bank Debt Fund 1073.3385 7.11% - - - -

CRISIL Short Term Bond Fund Index - 8.27% - - - -

CRISIL 1 Year T-Bill Index1 - 5.86% - - - -


Fund Manager : Krishna Cheemalapati

Religare Invesco Ultra Short Term Fund 1728.9274 8.87% 9.74% 9.26% 8.19% 17,289

Religare Invesco Ultra Short Term Fund - Regular 1647.9955 7.55% 8.47% 8.69% 7.44% 16,480


CRISIL 91 Day T-Bill Index1 - 8.28% 8.62% 6.19% 5.88% 14,884

Performance of Schemes

2


(`)

Dec. 31, 2012 - Dec. 31, 2013

(Absolute )

Dec. 30, 2011 - Dec. 31, 2012

(Absolute )

Dec. 31, 2010 - Dec. 30, 2011

(Absolute )

Since Inception

(CAGR )Current Value

of `10,000

Fund Manager : Vetri Subramaniam & Vinay Paharia

Religare Invesco Tax Plan 21.64 10.13% 30.12% -18.92% 11.63% 21,640

S&P BSE 100 - 5.87% 29.77% -25.73% 6.57% 15,622

CNX NIFTY1 - 6.76% 27.53% -24.62% 6.83% 15,894

Religare Invesco Growth Fund 15.27 11.54% 26.36% -21.82% 6.83% 15,270

S&P BSE 100 - 5.87% 29.77% -25.73% 5.42% 14,022

CNX NIFTY1 - 6.76% 27.53% -24.62% 5.76% 14,317


Fund Manager : Vetri Subramaniam & Amit Ganatra

Religare Invesco PSU Equity Fund 8.69 -15.05% 17.75% -24.46% -3.35% 8,690

S&P BSE PSU Index - -19.43% 15.15% -32.72% -10.20% 6,417

CNX NIFTY1 - 6.76% 27.53% -24.62% 5.50% 12,472

Religare Invesco Contra Fund 18.17 4.67% 30.53% -22.07% 9.28% 18,170

S&P BSE 500 - 3.25% 31.00% -27.41% 6.80% 15,567

CNX NIFTY1 - 6.76% 27.53% -24.62% 7.55% 16,320


Fund Manager : Vetri Subramaniam

Religare Invesco Equity Fund 16.32 19.30% 27.21% -20.44% 8.15% 16,320

S&P BSE 100 - 5.87% 29.77% -25.73% 2.68% 11,800

CNX NIFTY1 - 6.76% 27.53% -24.62% 3.10% 12,103

Religare Invesco Business Leaders Fund 14.12 9.20% 24.18% -21.92% 8.22% 14,120

CNX NIFTY - 6.76% 27.53% -24.62% 7.87% 13,920

S&P BSE Sensex1 - 8.98% 25.54% -24.64% 7.82% 13,891


Fund Manager : Vinay Paharia

Religare Invesco Mid Cap Fund 18.59 6.23% 41.43% -17.50% 9.68% 18,590

CNX Midcap Index - -5.10% 38.91% -31.00% 7.04% 15,787

CNX NIFTY1 - 6.76% 27.53% -24.62% 7.02% 15,769

Religare Invesco Mid N Small Cap Fund 19.61 11.17% 43.60% -19.24% 12.32% 19,610

CNX Midcap Index - -5.10% 38.91% -31.00% 5.53% 13,662

CNX NIFTY1 - 6.76% 27.53% -24.62% 5.97% 13,999


Scheme / Benchmark

NAV as on Dec. 31, 2013

(`)

7 Days3

15 Days3

1 Month3

3 Months3

6 Months3

Dec. 31, 2012 - Dec. 31, 2013

(Absolute )

Dec. 30, 2011 - Dec. 31, 2012

(Absolute )

Dec. 31, 2010 - Dec. 30, 2011

(Absolute )

Since Inception


of `10,000

Fund Manager : Krishna CheemalapatiReligare Invesco Liquid Fund

1725.0270 8.96% 8.95% 9.00% 9.55% 9.39% 9.24% 9.69% 9.00% 7.95% 17,250

Religare Invesco Liquid Fund - Regular

1643.5559 7.62% 7.61% 7.66% 8.22% 8.02% 7.80% 8.41% 8.14% 7.22% 16,436

Religare Invesco Liquid Fund - Institutional

1681.9515 7.90% 7.86% 7.89% 8.46% 8.28% 8.07% 8.95% 8.73% 7.57% 16,820

CRISIL Liquid Fund Index

- 6.40% 8.06% 8.95% 9.45% 9.44% 9.03% 8.49% 8.15% 7.34% 16,570

CRISIL 91 Day T-Bill Index1

- 10.01% 9.22% 9.08% 9.67% 8.12% 8.28% 8.62% 6.19% 5.86% 15,010



3


(`)

Dec. 31, 2012 - Dec. 31, 2013

(Absolute )

Dec. 30, 2011 - Dec. 31, 2012

(Absolute )

Dec. 31, 2010 - Dec. 30, 2011

(Absolute )

Since Inception


of `10,000

Fund Manager : Amit Ganatra

Religare Invesco Banking Fund 21.56 -9.53% 57.73% -29.91% 15.08% 21,560

CNX Bank Index - -8.73% 56.16% -32.42% 15.37% 21,862

CNX NIFTY1 - 6.76% 27.53% -24.62% 8.47% 15,605


Fund Manager : Amit Ganatra & Pranav GokhaleReligare Invesco Infrastructure Fund 7.33 -4.06% 22.30% -29.33% -4.95% 7,330

CNX Infrastructure Index - -4.16% 21.52% -38.54% -11.97% 4,585

CNX NIFTY1 - 6.76% 27.53% -24.62% 2.07% 11,336


Fund Manager : Pranav GokhaleReligare Invesco Arbitrage Fund4 16.0207 7.91% 9.07% 7.47% 7.31% 16,021


CNX NIFTY1 - 6.76% 27.53% -24.62% 6.70% 15,421

Religare Invesco AGILE Fund 7.98 7.40% 21.28% -16.51% -3.67% 7,980

CNX NIFTY - 6.76% 27.53% -24.62% 1.53% 10,961

S&P BSE Sensex1 - 8.98% 25.54% -24.64% 1.73% 11,089

Religare Invesco AGILE Tax Fund 8.71 6.09% 19.22% -16.71% -2.35% 8,710

CNX NIFTY - 6.76% 27.53% -24.62% 4.80% 13,132

S&P BSE Sensex1 - 8.98% 25.54% -24.64% 5.02% 13,295

Religare Invesco Nifty Exchange Traded Fund 639.9549 7.34% 28.45% - - -

CNX NIFTY - 6.76% 27.53% - - -

S&P BSE Sensex1 - 8.98% 25.54% - - -


Fund Manager : Sujoy Das, Nitish Sikand & Pranav Gokhale

Religare Invesco Monthly Income Plan (MIP) Plus5 1263.4577 2.75% 11.43% 5.21% 6.73% 12,635

(65%)CRISIL MIP Blended Fund Index; (35%)Price of Gold - -0.66% 12.05% 12.39% 8.25% 12,763



Fund Manager : Sujoy Das & Pranav Gokhale

Religare Invesco Monthly Income Plan5 1264.4163 6.84% 12.49% 1.00% 6.76% 12,644

CRISIL MIP Blended Index - 4.41% 12.05% 1.72% 6.51% 12,541


Religare Invesco Capital Protection Oriented Fund – Series I

12.0220 5.08% 14.30% - - -

CRISIL MIP Blended Index - 4.41% 12.05% - - -

CRISIL 1 Year T-Bill Index1 - 5.86% 8.06% - - -


CAGR - Compounded Annualised Growth RateReligare Invesco Capital Protection Oriented Fund – Series 1 - The Scheme offered is ‘oriented towards protection of capital’ and ‘not with guaranteed returns’. Further, the orientation towards protection of capital originates from the portfolio structure of the Scheme and not from any bank guarantee, insurance cover etc. Religare Invesco Monthly Income Plan (MIP) Plus - An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus. The term ‘Plus’ has been used in terms of the asset allocation and not in terms of returns/yield. Religare Invesco Monthly Income Plan - An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus. Religare Invesco Gold Fund - The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme.


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Scheme Name Inception Date

Religare Invesco Bank Debt Fund 29th December, 2012

Religare Invesco Gold Fund 5th December, 2011

Religare Invesco Nifty Exchange Traded Fund 13th June, 2011

Religare Invesco Capital Protection Oriented Fund – Series 1 21st March, 2011

Religare Invesco Medium Term Bond Fund 30th December, 2010

Religare Invesco Monthly Income Plan (MIP) Plus 1st June, 2010

Religare Invesco Monthly Income Plan 1st June, 2010

Religare Invesco Gold Exchange Traded Fund 12th March, 2010

Religare Invesco PSU Equity Fund 18th November, 2009

Religare Invesco Credit Opportunities Fund 28th August, 2009

Religare Invesco Business Leaders Fund 21st August, 2009

Religare Invesco Banking Fund 14th July, 2008

Religare Invesco Mid N Small Cap Fund 17th March, 2008

Religare Invesco AGILE Tax Fund 10th March, 2008

Scheme Name Inception Date

Religare Invesco Gilt Fund 9th February, 2008

Religare Invesco AGILE Fund 19th December, 2007

Religare Invesco Infrastructure Fund 21st November, 2007

Religare Invesco Equity Fund 4th October, 2007

Religare Invesco Overnight Fund 14th September, 2007

Religare Invesco Growth Fund 9th August, 2007

Religare Invesco Active Income Fund 2nd August, 2007

Religare Invesco Arbitrage Fund 30th April, 2007

Religare Invesco Mid Cap Fund 19th April, 2007

Religare Invesco Contra Fund 11th April, 2007

Religare Invesco Short Term Fund 24th March, 2007

Religare Invesco Ultra Short Term Fund 18th January, 2007

Religare Invesco Tax Plan 29th December, 2006

Religare Invesco Liquid Fund 17th November, 2006

Returns for Religare Invesco Nifty Exchange Traded Fund are calculated after considering dividend reinvestment of Rs. 5 per unit on record date - December 26, 2012 at ex-dividend NAV of Rs. 591.3176 per unit. For calculating returns since inception of all schemes except open ended debt schemes, Religare Invesco Gold Exchange Traded Fund and Religare Invesco Nifty Exchange Traded Fund, NAV as on the date of allotment is taken as Rs. 10/-. For calculating returns since inception for Religare Invesco Gold Exchange Traded Fund, NAV as on the date of allotment is taken as Rs.1,680.0014/- and for Religare Invesco Nifty Exchange Traded Fund, NAV as on the date of allotment is taken as Rs. 548.28/-. For calculating returns since inception for open ended debt schemes NAV as on the date of allotment is taken as Rs. 1,000/*. Face Value per unit is Rs. 10/- for all schemes except for open ended debt schemes and Religare Invesco Gold Exchange Traded Fund where Face Value per unit is Rs. 1,000/*- and Rs. 100/- respectively.

Dec. 31 being a non business day, performance as on Dec. 30 has been given, wherever applicable.

The performance of Religare Invesco Fixed Maturity plans (FMPs) is not given above, as FMPs are close-ended schemes of varying maturities and performance of FMPs may or may not be strictly comparable with open-ended debt schemes. Since inception returns are given only in respect of schemes which have completed 3 years.

1 Additional Benchmark. 2 In case of Religare Invesco Active Income Fund- Plan B, Inception Date: August 02, 2007, there were few instances where there were no investors in the Growth option of the said scheme(s)/plan(s) (for which performance data is given) for certain period of time and hence there was no NAV during that period. Subsequently, when new investors came, the units were allotted at Rs.10/- per unit. Hence since inception returns are calculated by taking weighted average of returns for the period when NAV of the Scheme was available. Further current value of Rs.10,000/- is based on NAV as on Dec. 31, 2013 (end date) and start date is June 05, 2010, the date on which units were allotted at Rs.10/- when new investor subscribed. 3Returns less than one year : Simple Annualised. 4 Religare Invesco Arbitrage Fund performance is not strictly comparable with that of its additional benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities etc. 5 Religare Invesco Monthly Income Plan (MIP) Plus and Religare Invesco Monthly Income Plan performance may or may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments and Gold ETFs (applicable only for Religare Invesco MIP Plus).

*The Face value of Religare Invesco Short Term Fund, Religare Invesco Credit Opportunities Fund, Religare Invesco Medium Term Bond Fund, Religare Invesco Monthly Income Plan, Religare Invesco Monthly Income Plan (MIP) Plus, Religare Invesco Gilt fund - Long Duration Plan, Religare Invesco Gilt Fund- Short Duration Plan and Religare Invesco Active Income Fund has been changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013 and the Face value of Religare Invesco Liquid Fund, Religare Invesco Ultra Short Term and Religare Invesco Overnight Fund has been changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on February 25, 2011.


No. Of Schemes managed by respective Fund Managers

Vetri Subramaniam 6 Sujoy Das 8

Vinay Paharia 4 Nitish Sikand 6 & FMPs

Amit Ganatra 4 Krishna Cheemalapati 2

Pranav Gokhale 8

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What is your outlook on markets for 2014? What are the key concerns or factors that could negatively impact the markets as we progress this year?A: Economic growth remains weak and the lead indicators do not suggest a turnaround. Monetary policy support to growth is unlikely given the continuing battle with inflation. Policy making has picked up pace since late 2012 & several measures to address stalled investments have been taken. This is positive for growth outlook in the years ahead. But valuations are near long term averages and further market progress will require a pick up in earnings growth.Q : What is your expectation from the general election results on the markets?A: We have no specific view on the election outcome. A stable and decisive government that can deliver good governance would raise confidence of business and investors. Enhanced confidence can lift valuations and an unstable government would lower confidence and

damage valuations. But with valuations near long term average an extreme reaction to the election outcome while not impossible is less likely.For the markets - it is not merely an improvement or deterioration in confidence but an acceleration in earnings that holds the key to the medium term. And on that count we are still in a difficult and time consuming process.

In The NewsICICI Securities Money Manager - February 2014 WealthForum e-Zine - February 13, 2014

WF : At the beginning of 2013, most fund managers were very bullish on duration. Unfortunately, events of July 2013 belied their expectations, which led to considerable disenchantment among distributors and investors. What leads you to give a bullish call on duration now, given this rather unpleasant recent history?Sujoy : The bearish move in the bond market started off with the announcement of the Fed tapering in May’13 and the ensuing nervousness in the currency market as outflows from debt investments started from foreign investors coupled with widening CAD led to weakness in the currency.The stretched fiscal situation, low tax collections and rising inflation (led by food inflation) added to the gloom and the yields hardened over the second half of 2013.RBI’s abrupt monetary policy and OMO sales of g-secs at the longer end in July’13 weakened the sentiment and the yields of longer tenor bonds moved higher.From July’13 onwards there have been several improvements, which leads us to be bullish on duration:1. The CAD is better and within 1.2% of the GDP as the country imported much less ever since

the imports duty on gold was imposed. Simultaneously, the recovery of the exports industries led to a quick improvement in the CAD situation

2. The volatility in the currency market has come off due to improvement in the CAD and robust accretion in the forex reserves due to off-shore bank deposits raised for by banks for a 3 year term

3. The food inflation has seen a sharp decline,since the prices of green vegetables moved down over the last months. The reduced MSP price hikes are also helping the food inflation to come lower. Hence, the headline inflation has also come off from the peaks and is expected to move lower over time.

4. While Urjit Patel recommendations will be followed, declining headline inflation probably does not warrant further rate hikes.

5. As inflation comes off from the peaks, we expect RBI’s focus to shift towards backing up growth in the latter part of the FY15.

6. The 10 year benchmark sovereign yields are trading 140bps higher than the 10 year averages.In light of the above developments and given the cheap market valuations as the rate cycle is expected to follow a cyclical pattern, it makes a compelling reason to get invested in long durations as this point in time.Given the fundamental improvement in the macro variables particularly on the external front and present market valuations the current levels open up an opportunity to get invested and the risk-reward is in favour of long duration bond funds.WF : What exactly are the recommendations of the Urjit Patel Committee that might impact bond markets and what impact will these have?Sujoy : The recommendation to target headline CPI inflation and to glide it down over a 2 year period to 6% from the present 9.7% has the potential to impact the bond markets. The recommendations are subject to govt achieving a fiscal target of 3.0% by FY17.As the focus will be directed towards inflation control, monetary policy actions will be targeted to inflation control.WF : Global investors are in a jittery mood now about emerging markets, with turbulence in Argentina and Turkey, nervousness on China and trepidation on US taper. Emerging market debt has been the biggest beneficiary of the multi-year global liquidity surge, which is now set to taper down. How do you expect these events to impact our bond markets?Sujoy : Foreign investors holding of Indian bonds is probably the lowest amongst several EM bond markets. While the jitters might be felt in those markets in case the available of liquidity dips as the US tapering continues over the year, Indian bond market might stand out in isolation as foreigners hold under 3% of the outstanding compared to upwards of 15% holding by foreign investors for other bond markets.

AMC Speak 6 reasons to be bullish on bonds now

Don’t let events of 2013 scare you away from bond funds, says Sujoy, as he lists 6 reasons why he is bullish on duration strategies for 2014. He does not share the view that retail investors should stick only to the shorter end - he believes that when yields are significantly above their long term averages - as they currently are, investors from all segments must consider income and gilt funds, and should look at exiting only when yields are significantly below long term averages. If this simple discipline is maintained, all investors can benefit from income and gilt funds, he says.

Sujoy Das, Head - Fixed Income, Religare Invesco MF

Mutual Fund Insight - February , 2014

‘Opportunities in mid and small cap space’Vetri Subramaniam, Chief Investment Officer (CIO), Religare Invesco Mutual Fund believes that valuations are trading in line with historical averages and recommends continuing systematic investment. Based on valuations, he sees opportunities in mid and small cap space and also in value stocks. Credible exporters across sectors are another attractive area, he adds. Here are the excerpts of his interview with ICICIdirect Money Manager:

The Hindu Business Line - February 17, 2014

Vetri Subramaniam �� Religare Invesco Mutual Fund

6

Market Update

Macro Economic Review

The broad economic conditions remained largely unchanged over the previous month. While the 3QFY14 GDP growth slowed down to 4.7% from 4.8% in 2Q, the quarter saw modest agriculture growth of 3.6%. Disappointingly, the growth within the industry contracted by 0.7% and services grew by mere 7.6%. The government also released the first GDP estimates for FY14, pegging growth at 4.9%. Factory output continued to contract as Dec IIP came in at -0.6%, taking Apr-Dec growth to -0.1.

With the decline in the vegetable prices, the headline CPI continued to ease in Jan’14, coming in at a two year low of 8.8% from 9.9% in Dec’13. The drop in inflation was supported by an ease of fuel inflation. However, core CPI remained at unchanged levels of 8.1%. WPI followed a similar trend, as the Jan’14 print was at 5% vs 6.2% in the previous month. Core WPI rose up to 3% from 2.8% in Dec, though this is partly seasonal due to price revisions at beginning of calendar year.

The IIP for Dec’13 contracted by -0.6% compared to -2.1% of Nov’13. The slow growth in the manufacturing sector is expected to have some disinflationary effect on the general level of prices within the economy.

Based on the Urijit Patel recommendation of targeting the headline CPI inflation for all monetary policy actions (i.e. 8% CPI inflation by March 2015), RBI raised the repo rates in the last policy review in end Jan’14. The rate hike surprised the market participants as the market was expecting no change since there was a sharp decline in the headline inflation compared to the previous month.

The purchases by FIIs in the debt segment continued to be positive for the 3rd month in a row with a purchase of $2.5 billion in Feb’14.

While in the interim budget, PM announced a lower fiscal deficit of 4.6% for FY14 and estimated a 4.1% fiscal deficit for FY15, the market reactions seemed to be cautious about the achievement of the budgeted estimates. The net market borrowing of the govt in FY15 is also estimated to be lower than the previous year.

The visible stress in the asset books of many PSU banks and the general slowdown across the economy is having its effect in business confidence.

Equity Market

After a weak start to the calendar year, the Nifty picked up in Feb (+3.1%). There was stock specific action on the back of 3Q earnings in early Feb but, overall the Indian market moved largely in tandem with regional markets. FIIs and DIIs both ended the month as net buyers, at $418mn & $44mn respectively.

Valuations are in the comfort zone–they are not expensive but neither are they cheap: trading slightly below long term averages. On a forward basis they are at a slightly higher discount to average. However, given the macro environment we find current high teen earnings growth forecasts for the markets for FY15 to be suspect & hence we do not emphasize forward valuations.

We see volatility increasing in the days ahead driven both by local & global issues. And this might have more to do with non-economic issues.

The areas we have highligted as being attractive-in recent times-cheap cyclical stocks, Mid & Small cap companies & exporters have done well in recent times. We think these themes remain attractive but we continue to avoid companies with balance sheet risk. We are of the opinion that stock selection remains the key to generating alpha in this environment.

Fixed Income Market

Over the month of February’14 the yields of most assets hardened in the market.

As the financial year end is drawing to a close the cost of money has gone up leading to hardening of yields of most securities. Higher quantum of issuances compared to the maturities of CDs pushed up the yields of bank CDs. The yields of 3m CD went up from 9.50% to 9.80%. The yields of 12m CD went up from 9.65% to 9.76%. The yields of corporate bonds were largely unchanged due to demand from foreign investors. The month of Feb’14 saw over Rs. 18,000 crore inflow into Indian debt and money market securities by foreign investors. The yield of 5 year corporate bonds remained unchanged around 9.72%.

7

Market Update Cont’d...

The 10 year benchmark G-sec yields went up from 8.78% to 8.86%. The yields hardened despite net positive foreign inflow due to net selling by domestic fund. The market presumably was preparing for further rate hikes by RBI.

While chances of further rate hikes are remote, as the headline inflation moves downwards, but still remains outside the target 8% on headline CPI. Few comments by RBI governor also kept the market participants nervous about trajectory of monetary rates.

The estimated fiscal deficit of 4.1% for FY15 and a net market borrowing below current year failed to cheer market participants as there was widespread disagreement about attaining the budget estimates.

The decline in gold imports and non-essential imports has led to a steady improvement in the CAD. RBI actions around maintaining currency stability has helped improve the general market sentiment while IIP declines. The drop in the vegetable prices has helped in the decline of the headline inflation.

RBI has also maintained the overnight rates around the repo rate through continuous term repo auctions and has helped maintain liquidity at reasonable levels.

While the domestic economic momentum lacks visible signs of growth, the positives roll-in from improved macro variables on the external front. Continued Fed tapering has had limited impact on both the currency and the rates.

The liquidity position within the banking system is expected to deteriorate further due to the seasonal outflows from the advance tax payments towards mid-March. The overnight cost of money might just about be maintained around the repo rate of 8% due to the success of term repo auctions. Through the term repo auctions, RBI has infused additional liquidity beyond the infusions through the overnight LAF. The infusions through the term repos auctions has helped maintain stability in the overnight market and contain the rates closer to the repo rates.

The yields of debt securities will move in line with inflation and RBI’s rate actions.

The superior liquidity management by RBI gives comfort that the liquidity conditions will be maintained well over the following months too. Hence, the yields of short maturity papers are expected to remain largely around similar levels, while higher yields are not ruled out in the month of March’14 as outflows on account of advance tax payments. The reserve money creation will take a beating as the government expenditure seems to be largely over for the financial year.

The inflows from foreign investors are expected to continue over the month as the currency remains stable with an appreciating bias. This is having a positive impact on the value of the currency. So while several EM currencies are feeling the heat of Fed tapering the behavior of the rupee is comparatively stable.

Higher supply of corporate bonds might lead to some widening of spreads for corporates as the spreads are lower than the averages and additional market borrowing appears remote as fiscal deficit is being contained at a lower level of 4.6% compared to the budgeted estimates of 4.8%.

Improved currency stability, lower headline inflation might refrain RBI from any further rate hikes from the present levels. Taking cognizance of monetary policy guidance, we are positive on long maturity bonds and gilts, which may provide opportunity for capital appreciation over a period of time. The probability for the G-sec yield to come off from the present yields is high due to RBI’s pause on rate hikes and the absolute levels, which is trading around 130 bps higher than the previous 10 year average yield of the benchmark.

We recommend all funds of over 3 years plus modified duration, actively managed bond funds, which are in sync with the rate cycle and long duration gilt funds to benefit from capital appreciation.

In light of the improved India’s external balances position, a calibrated US Federal tapering programme is not expected to induce undue volatility in the rates market.

The sovereign rating continues to be under the threat of a downgrade in case the general election results are fragmented. On a medium to long term basis, the risks remains of a weak government unable to pursue a lower fiscal deficit from the new FY.

8

Table I

AUM REPORT FOR THE QUARTER ENDED (31/12/2013)

Asset class wise disclosure of AAUM

Category Average AUM for the Quarter (Rs. in Lakhs)

Income 749,492.89

Equity (other than ELSS) 45,981.27

Balanced 0.00

Liquid 528,569.54

Gilt 25,110.41

Equity - ELSS 14,506.40

GOLD ETF 6,809.66

Other ETF 146.18

Fund of Fund investing overseas 0.00

Total 1,370,616.34

Assets Under Management

Table II

AUM REPORT FOR THE QUARTER ENDED (31/12/2013)

Disclosure of percentage of AUM by geography

Geographical Spread % of Total AUM as on the last day of the Quarter

Top 5 Cities 60.84

Next 10 Cities 28.22

Next 20 Cities 6.70

Next 75 Cities 2.28

Others 1.96

Total 100.00

9Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer

PortfolioCompany % of Net

AssetsCompany % of Net

Assets

Equity & Equity Related Instruments 96.27

Tata Consultancy Services Ltd. 7.00

HDFC Bank Ltd. 5.85

Wipro Ltd. 5.71

Housing Development Finance Corp. Ltd. 5.37

Britannia Industries Ltd. 5.11

ING Vysya Bank Ltd. 4.14

Maruti Suzuki India Ltd. 3.19

Biocon Ltd. 2.96

Oil & Natural Gas Corporation Ltd. 2.72

Idea Cellular Ltd. 2.56

Larsen & Toubro Ltd. 2.51

VA Tech Wabag Ltd. 2.39

Bharat Petroleum Corporation Ltd. 2.38

Infosys Ltd. 2.27

Gujarat Pipavav Port Ltd. 2.14

Apollo Hospitals Enterprise Ltd. 2.08

Lupin Ltd. 2.05

PI Industries Ltd. 2.05

D.B.Corp. Ltd. 1.97

Tech Mahindra Ltd. 1.93

Power Grid Corporation of India Ltd. 1.85

Supreme Industries Ltd. 1.77

Voltas Ltd. 1.70

The Federal Bank Ltd. 1.70

Titan Company Ltd. 1.58

AIA Engineering Ltd. 1.51

City Union Bank Ltd. 1.49

Dr. Reddy’s Laboratories Ltd. 1.43

Tata Steel Ltd. 1.43

The Jammu & Kashmir Bank Ltd. 1.41

VIP Industries Ltd. 1.40

IPCA Laboratories Ltd. 1.30

Tree House Education & Accessories Ltd. 1.25

The Great Eastern Shipping Company Ltd. 1.12

Siemens Ltd. 1.09

Bayer CropScience Ltd. 1.06

Redington (India) Ltd. 0.97

IDFC Ltd. 0.94

Greaves Cotton Ltd. 0.89

Eros International Media Ltd. 0.88

Sadbhav Engineering Ltd. 0.84

Gujarat State Petronet Ltd. 0.70

Whirlpool of India Ltd. 0.63

The Ramco Cements Ltd. 0.50

Balrampur Chini Mills Ltd. 0.43

Cash & Cash Equivalent 3.73

Total 100.00

Dividend Distribution5

Dividend Option27-Dec-13 0.90 14.4630-Mar-11 0.75 12.3720-Jan-11 2.00 14.4025-Nov-09 1.00 13.03Direct Plan - Dividend Option27-Dec-13 1.00 14.56

Record Date Rate

(`/ Unit)

Cum-Dividend

NAV p.u. (`)

5Past performance may or may not be sustained in future. Dividend is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.

4Sector Classification as recommended by AMFI.

Key Facts

Load StructureEntry Load1 NilExit Load2 Nil

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

Additional Purchase` 500/- & in multiples of` 500/- thereafter

Inception Date 29th December, 2006

NAV p.u. (`) As on 28th February, 2014Growth 21.50 Dividend 13.51

Direct Plan: Growth 21.73 Dividend 13.54

Portfolio Turnover Ratio(1 Year) 0.47

Risk Ratios3 Standard Deviation 4.46%Sharpe Ratio 0.02Beta 0.813Based on 3 years, monthly datahistory (Risk-free rate of 9.09%based on 91 days T-Bill Rate)

Benchmark IndexS&P BSE 100

AAUM for the quarter endingDecember, 2013 ` 138.51 crores

Fund Manager & Experience Vetri SubramaniamTotal Experience 21 Years Experience in managing this fund: Since December 16, 2008

Vinay PahariaTotal Experience 11 YearsExperience in managing this fund:Since June 28, 2010

Investment Objective

To generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities.

SoftwareBanks

PharmaceuticalsFinance

Consumer Non DurablesConstruction ProjectConsumer Durables

TransportationAuto

PesticidesMedia & Entertainment

OilIndustrial Products

Industrial Capital GoodsTelecom - Services

Engineering ServicesPetroleum ProductsHealthcare Services

PowerFerrous Metals

Diversified Consumer ServicesTrading

GasCement 0.50%

0.70%0.97%1.25%1.43%1.85%2.08%2.38%2.39%2.56%2.61%2.66%2.72%2.84%3.11%3.19%3.26%3.62%

5.04%5.54%

6.32%7.75%

14.59%16.91%

Sector Classification4

As on 28th February, 2014

Religare Invesco Tax Plan(An Open-Ended Equity Linked Savings Scheme with a lock-in period of 3 years )

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in equity and equity-related instruments � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

��(BLUE) Investors understand that their principal will be at low risk

��(YELLOW) Investors understand that their principal will be at medium risk

Note: Risk is represented as:

��(BROWN) Investors understand that their principal will be at high risk

10



Assets






GAIL (India) Ltd. 8.02

Coal India Ltd. 6.05

LIC Housing Finance Ltd. 5.48

State Bank of India 4.76

Balmer Lawrie & Company Ltd. 4.65

Indian Oil Corporation Ltd. 2.64

Oil India Ltd. 2.60

Hindustan Petroleum Corporation Ltd. 2.33

Corporation Bank 2.17

Gujarat Mineral Development Corp. Ltd. 2.09

Gujarat Industries Power Company Ltd. 2.06

Indraprastha Gas Ltd. 1.85

NTPC Ltd. 1.81

Bharat Electronics Ltd. 1.73

Bharat Heavy Electricals Ltd. 1.72

SJVN Ltd. 1.55


Bank of Baroda 1.07

Oriental Bank of Commerce 0.96

Gujarat State Fertilizers & Chemicals Ltd. 0.58

Engineers India Ltd. 0.45


Total 100.00

Sector Classification4 Dividend Distribution5

Dividend Option26-Nov-10 1.10 11.22

Record Date Rate

(`/ Unit)Cum-Dividend

NAV p.u. (`)

5Past performance may or may not be sustained in future. Dividend is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any.


Key Facts

Load StructureEntry Load1 NilExit Load2 If redeemed/switched-out on

or before 1 year from the date of allotment : 1%

If redeemed/switched-out after 1 year from the date of allotment : Nil

Switch between the Plans under the Scheme:

For switch to Direct Plan: - Transaction not routed through Distributor: Nil - Transaction routed through Distributor: Applicable exit

load For switch from Direct

Plan: Nil

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

Additional Purchase` 1,000/- & in multiples of` 1/- thereafter

Inception Date 18th November, 2009




Risk Ratios3

Standard Deviation 5.48%Sharpe Ratio -0.21Beta 0.843Based on 3 years, monthly datahistory (Risk-free rate of 9.09%based on 91 days T-Bill Rate)

Benchmark IndexS&P BSE PSU Index

AAUM for the quarter ending December, 2013 ` 52.23 crores

Fund Manager & Experience Vetri SubramaniamTotal Experience 21 Years Experience in managing this fund: Since November 9, 2010

Amit GanatraTotal Experience 10 YearsExperience in managing this fund:Since November 9, 2010


To generate capital appreciation by investing in equity and equity related instruments of companies where the Central / State Government(s) has majority share holding or management control or powers to appoint majority of directors

Banks

Petroleum Products

Oil

Power

Gas

Minerals/Mining

Finance

Transportation

Industrial Capital Goods

Fertilisers

Construction Project 0.45%

0.58%

3.46%

4.65%

5.48%

8.14%

11.25%

14.22%

14.51%

15.38%

21.59%

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer


Religare Invesco PSU Equity Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in equity and equity-related instruments of Government companies (PSU’s)� high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





11


To generate capital appreciation through investment in equity and equity related instruments. The Scheme will seek to generate capital appreciation through means of contrarian investing.



Assets





Wipro Ltd. 4.90



Infosys Ltd. 3.97




Bharat Forge Ltd. 2.90

Voltas Ltd. 2.90



Biocon Ltd. 2.59





D.B.Corp. Ltd. 2.29


Crompton Greaves Ltd. 2.03





Gateway Distriparks Ltd. 1.62


Siemens Ltd. 1.37

Hindustan Zinc Ltd. 1.34





IDFC Ltd. 0.93


Max India Ltd. 0.81

TV18 Broadcast Ltd. 0.70

NRB Bearing Ltd. 0.53

Balrampur Chini Mills Ltd. 0.47

Alstom India Ltd. 0.44


Total 100.00


Dividend Option12-Mar-10 2.00 13.487-Sep-09 1.20 13.12

Record Date Rate

(`/ Unit)

Cum-Dividend

NAV p.u. (`)



Software

Banks


Construction Project

Transportation

Consumer Non Durables

Pharmaceuticals

Industrial Products

Consumer Durables

Engineering Services

Media & Entertainment

Auto

Telecom - Services

Oil

Petroleum Products

Trading

Finance

Non - Ferrous Metals

Power

Ferrous Metals

Healthcare Services 0.92%

1.25%

1.26%

1.34%

1.74%

1.88%

2.14%

2.48%

2.68%

3.94%

4.31%

4.55%

4.94%

5.14%

5.17%

5.98%

6.39%

7.17%

7.51%

12.24%

16.16%

Key Facts







Plan: Nil



Inception Date 11th April, 2007




Risk Ratios3

Performance Attributes Standard Deviation 5.25%Sharpe Ratio -0.02Beta 0.953Based on 3 years, monthly datahistory (Risk-free rate of 9.09%based on 91 days T-Bill Rate)




Amit GanatraTotal Experience 10 YearsExperience in managing this fund:Since August 14, 2012



Religare Invesco Contra Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in equity and equity-related instruments through means of contrarian investing� high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





12 Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer


To provide long term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of Mid Cap companies



Assets

Equity & Equity Related Instruments 96.70Britannia Industries Ltd. 4.61


Voltas Ltd. 4.01


D.B.Corp. Ltd. 3.88



Biocon Ltd. 3.21










Siemens Ltd. 2.38




Rallis India Ltd. 2.07

Mindtree Ltd. 1.95





Grindwell Norton Ltd. 1.53







FAG Bearings India Ltd. 1.20





IDFC Ltd. 1.00


Kalpataru Power Transmission Ltd. 0.98

Texmaco Rail & Engineering Ltd. 0.90

Sundaram Finance Ltd. 0.32




Cash & Cash Equivalent 3.30Total 100.00


Dividend Option24-Sep-10 2.70 15.65

Record Date Rate


NAV p.u. (`)



Key Facts







Plan: Nil







Risk Ratios3

Standard Deviation 5.04%Sharpe Ratio 0.07Beta 0.743Based on 3 years, monthly datahistory (Risk-free rate of 9.09%based on 91 days T-Bill Rate)

Benchmark IndexCNX Mid Cap Index


Fund Manager & ExperienceVinay PahariaTotal Experience 11 Years Experience in managing this fund: Since December 16, 2008

BanksTransportation

Industrial Capital GoodsIndustrial Products

PesticidesPharmaceuticals

SoftwareConstruction Project

Media & EntertainmentConsumer Durables

Consumer Non DurablesTradingFinance

Engineering ServicesPetroleum Products

AutoGas

CementDiversified Consumer Services

Healthcare ServicesPower 0.98%

1.03%1.47%

1.47%1.83%1.93%

2.26%2.39%2.81%

2.85%4.61%

4.92%5.20%5.61%

5.79%5.79%6.29%

8.50%8.82%

9.42%12.75%


Religare Invesco Mid Cap Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment predominantly in equity and equity-related instruments of Mid Cap companies� high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





13



Assets

Equity & Equity Related Instruments 67.12Lupin Ltd. 8.84Reliance Industries Ltd. 7.69United Spirits Ltd. 7.12Tech Mahindra Ltd. 4.29LIC Housing Finance Ltd. 2.64Sun Pharmaceuticals Industries Ltd. 2.58Tata Steel Ltd. 1.85The Federal Bank Ltd. 1.83Tata Global Beverages Ltd. 1.74Yes Bank Ltd. 1.59Exide Industries Ltd. 1.29Tata Motors Ltd. DVR Shares 1.19Punjab National Bank 1.13NTPC Ltd. 1.12The Karnataka Bank Ltd. 1.07Tata Power Company Ltd. 1.05Biocon Ltd. 1.05IFCI Ltd. 1.03Divi’s Laboratories Ltd. 1.01Reliance Power Ltd. 0.95Tata Communications Ltd. 0.92Reliance Capital Ltd. 0.92Titan Company Ltd. 0.91Dish TV India Ltd. 0.87Hindustan Zinc Ltd. 0.84Maruti Suzuki India Ltd. 0.84JSW Steel Ltd. 0.84NHPC Ltd. 0.66Unitech Ltd. 0.63Cairn India Ltd. 0.60Ashok Leyland Ltd. 0.56Siemens Ltd. 0.54Arvind Ltd. 0.51Aurobindo Pharma Ltd. 0.46IRB Infrastructure Developers Ltd. 0.45Oracle Financial Services Software Ltd. 0.39Idea Cellular Ltd. 0.34The India Cements Ltd. 0.34Jain Irrigation Systems Ltd. 0.34

Hindalco Industries Ltd. 0.31Indraprastha Gas Ltd. 0.31Bank of India 0.29Jaiprakash Power Ventures Ltd. 0.28IDFC Ltd. 0.26Ranbaxy Laboratories Ltd. 0.23Syndicate Bank 0.21PTC India Ltd. 0.20Colgate Palmolive (India) Ltd. 0.17Oriental Bank of Commerce 0.17UCO Bank 0.17Union Bank of India 0.17Hindustan Unilever Ltd. 0.16Coal India Ltd. 0.15Voltas Ltd. 0.14Wipro Ltd. 0.12Allahabad Bank 0.10Grasim Industries Ltd. 0.10Sesa Sterlite Ltd. 0.08Petronet LNG Ltd. 0.08Canara Bank 0.08Aditya Birla Nuvo Ltd. 0.07Jindal Steel & Power Ltd. 0.07Century Textiles & Industries Ltd. 0.06Andhra Bank 0.05Asian Paints Ltd. 0.03Power Grid Corporation of India Ltd. 0.02Glenmark Pharmaceuticals Ltd. 0.02ICICI Bank Ltd. 0.01Tata Chemicals Ltd. 0.01NMDC Ltd. *0.00Mutual Fund Units 15.50Religare Invesco Liquid Fund 15.50Fixed Deposit 23.66HDFC Bank Ltd. 22.75Bank Of Nova Scotia 0.92Derivatives, Cash & Cash Equivalent -6.28Total 100.00

Key Facts





NAV p.u. (`) As on 28th February, 2014Growth 16.2648 Dividend 12.5084 Bonus 16.2633

Direct Plan:Growth Option 16.3984 Dividend Option 12.7545 Bonus 16.3985


Benchmark IndexCRISIL Liquid Fund Index


Fund Manager & ExperiencePranav GokhaleTotal Experience 10 Years Experience in managing this fund: Since April 01, 2011


To generate income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments.

The Scheme is having exposure to Stock Futures (Short) against the above Equity Stocks and the Gross Derivatives Exposure is 67.55% of Net Assets.* Less than 0.01%


Religare Invesco Arbitrage Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� income over medium-term � income through opportunities emerging out of mis-pricing between cash and derivatives markets and through deployment of surplus cash in fixed income instruments � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.







PharmaceuticalsConsumer Non Durables

Petroleum ProductsBanks

FinanceSoftware

PowerFerrous Metals

AutoAuto Ancillaries

Telecom - ServicesNon - Ferrous Metals

ConstructionConsumer Durables

Media & EntertainmentOil

Industrial Capital GoodsTextile Products

CementGas

Industrial ProductsMinerals/Mining

Construction ProjectServices

Chemicals 0.01%0.07%0.14%0.23%0.34%0.39%0.50%0.51%0.54%0.60%0.87%0.91%1.08%1.15%1.27%1.29%

2.60%2.75%

4.26%4.80%4.84%

6.87%7.69%

9.22%14.19%


Dividend Option10-Feb-14 0.12 12.58157-Jan-14 0.14 12.60905-Dec-13 0.10 12.64887-Nov-13 0.10 12.6627 Direct Plan - Dividend Option10-Feb-14 0.50 13.201810-Oct-13 0.06 12.659826-Sep-13 0.03 12.626226-Aug-13 0.10 12.6522

Record Date Rate


NAV p.u. (`)

4Past performance may or may not be sustained in future. Dividend is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not in-clude the details of all the dividends declared in the scheme.


14


To generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities.



Assets


HDFC Bank Ltd. 8.34


Reliance Industries Ltd. 6.49


Wipro Ltd. 5.87


ICICI Bank Ltd. 4.67


HCL Technologies Ltd. 3.97

ITC Ltd. 3.64







D.B.Corp. Ltd. 2.52





Biocon Ltd. 1.49










Pidilite Industries Ltd. 0.51




Total 100.00


Dividend Option30-Dec-10 1.25 13.76

Record Date Rate

(`/ Unit)



Key Facts







Plan: Nil



Inception Date 9th August, 2007




Risk Ratios3




Fund Manager & ExperienceVetri SubramaniamTotal Experience 21 Years Experience in managing this fund: Since November 9, 2010

Vinay PahariaTotal Experience 11 Years Experience in managing this fund: Since November 9, 2010

SoftwareBanks

Petroleum ProductsConsumer Non Durables

FinancePharmaceuticals

Construction ProjectAuto

OilTelecom - ServicesIndustrial Products

Media & EntertainmentPower

Industrial Capital GoodsNon - Ferrous MetalsEngineering Services

Ferrous MetalsGas

Consumer DurablesTransportation

Chemicals 0.51%

0.92%1.07%

1.08%1.13%1.46%

1.83%2.01%2.48%

2.52%2.68%

2.92%3.28%3.28%

4.78%6.23%6.32%

8.05%8.80%

17.12%20.03%

Cum-Dividend

NAV p.u. (`)


Suitable for Investors who are seeking*� capital appreciation over long-term � investment in diversified portfolio of equity and equity-related instruments� high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Religare Invesco Growth Fund(An Open-Ended Diversified Equity Scheme)

15



Assets

Equity & Equity Related Instruments 73.87The Jammu & Kashmir Bank Ltd. 6.02

Zee Entertainment Enterprises Ltd. 5.58

ITC Ltd. 5.53


Wipro Ltd. 5.07

Biocon Ltd. 4.75



Grasim Industries Ltd. 4.43




HDFC Bank Ltd. 4.02

D.B.Corp. Ltd. 3.47



Lupin Ltd. 2.36

Fixed Deposit 1.06Bank Of Nova Scotia 1.06




Key Facts







Plan: Nil



Inception Date 04th October, 2007




Risk Ratios3






To generate long term capital growth from a focused portfolio of predominantly equity and equity related securities.

Software

Banks

Pharmaceuticals



Petroleum Products

Auto

Cement

Ferrous Metals

Telecom - Services 2.42%

4.09%

4.43%

4.67%

5.50%

5.53%

9.04%

11.85%

13.13%

13.21%



Religare Invesco Equity Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in focused portfolio of equity and equity-related instruments� high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Dividend Option28-Feb-14 1.50 15.66 Direct Plan - Dividend Option28-Feb-14 2.00 15.80

Record Date Rate


NAV p.u. (`)





Assets

Equity & Equity Related Instruments 99.11HDFC Bank Ltd. 29.93





Axis Bank Ltd. 4.33

State Bank of India 4.19




Kotak Mahindra Bank Ltd. 2.51

Indusind Bank Ltd. 2.41

Punjab National Bank 2.03


Max India Ltd. 1.50

IDFC Ltd. 1.44

Bank of Baroda 1.04

Shriram Transport Finance Company Ltd. 1.00


Total 100.00



Key Facts







Plan: Nil



Inception Date 14th July, 2008




Risk Ratios3


Benchmark IndexCNX Bank Index


Fund Manager & ExperienceAmit GanatraTotal Experience 10 Years Experience in managing this fund: Since November 9, 2010


To generate long term capital growth from a portfolio of equity and equity related securities of companies engaged in the business of banking and financial services.


Dividend Option3-May-13 2.50 17.7929-Jan-10 2.50 14.183-Jul-09 0.75 12.78Direct Plan - Dividend Option3-May-13 2.50 17.79

Record Date Rate

(`/ Unit)


Cum-Dividend

NAV p.u. (`)

15.16%

83.95%

Finance

Banks


Religare Invesco Banking Fund(An Open-Ended Banking Sector Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment predominantly in equity and equity-related instruments of companies engaged

in the business of banking and financial services � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





17



Assets


ITC Ltd. 9.36

Infosys Ltd. 9.16


HDFC Bank Ltd. 8.68


Kotak Mahindra Bank Ltd. 5.47







Wipro Ltd. 2.74






D.B.Corp. Ltd. 1.78


Lupin Ltd. 1.37





NMDC Ltd. 0.98


Siemens Ltd. 0.59


Total 100.00


Dividend Option22-Oct-10 1.20 13.47

Record Date Rate


NAV p.u. (`)



Key Facts







Plan: Nil



Inception Date 21st August, 2009




Risk Ratios3


Benchmark IndexCNX Nifty


Fund Manager & Experience Vetri SubramaniamTotal Experience 21 Years Experience in managing this fund: Since August 21, 2009


To generate long term capital appreciation by investing in equity and equity related instruments including equity derivatives of companies which in our opinion are leaders in their respective industry or industry segment.

Software

Banks


Finance

Petroleum Products

Pharmaceuticals


Auto


Oil

Cement


Telecom - Services


Power

Ferrous Metals

Consumer Durables

Gas

Minerals/Mining

Healthcare Services 0.95%

0.98%

1.09%

1.09%

1.34%

1.44%

1.84%

1.85%

2.01%

2.58%

2.92%

3.58%

3.97%

4.06%

6.51%

8.69%

8.79%

9.36%

16.04%

19.17%



Religare Invesco Business Leaders Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in equity and equity-related instruments including equity derivatives of

companies which in our opinion are leaders in their respective industry or industry segment � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.








Assets









Voltas Ltd. 3.96


Amara Raja Batteries Ltd. 3.41








Siemens Ltd. 2.48






IDFC Ltd. 1.48

Cummins India Ltd. 1.23

NRB Bearing Ltd. 1.17







Gujarat Mineral Development Corp. Ltd. 0.80

Nesco Ltd. 0.67

ESAB India Ltd. 0.50


Total 100.00



Key Facts







Plan: Nil



Inception Date 21st November, 2007




Risk Ratios3


Benchmark IndexCNX Infrastructure Index


Fund Manager & ExperienceAmit GanatraTotal Experience 10 Years Experience in managing this fund: Since November 9, 2010

Pranav GokhaleTotal Experience 10 Years Experience in managing this fund: Since August 14, 2012


To provide long term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of infrastructure companies.


Transportation


Industrial Products

Power

Telecom - Services

Engineering Services

Auto Ancillaries

Healthcare Services


Gas

Minerals/Mining

Cement

Diversified Consumer Services

Finance

Petroleum Products

Ferrous Metals

Commercial Services 0.67%

0.86%

1.15%

1.48%

1.62%

2.01%

2.41%

2.66%

2.80%

3.18%

3.41%

5.57%

6.66%

9.38%

11.95%

12.49%

13.09%

17.59%


Religare Invesco Infrastructure Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in equity and equity-related instruments of infrastructure companies� high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





19Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer



Assets





Voltas Ltd. 3.99

D.B.Corp. Ltd. 3.93






Biocon Ltd. 2.98









Siemens Ltd. 2.18


Mindtree Ltd. 2.09












FAG Bearings India Ltd. 1.17



IDFC Ltd. 0.99






Pidilite Industries Ltd. 0.47




ZF Steering Gear India Ltd. 0.08


Total 100.00



Key Facts







Plan: Nil



Inception Date 17th March, 2008




Risk Ratios3


Benchmark IndexCNX Mid Cap Index

AAUM for the quarter endingDecember, 2013 ` 44.93 crores

Fund Manager & ExperienceVinay PahariaTotal Experience 11 Years Experience in managing this fund: Since May 14, 2008


To provide long term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of mid and small cap companies.

BanksIndustrial Capital Goods

TransportationIndustrial Products

Consumer DurablesPesticides

PharmaceuticalsSoftware

Construction ProjectMedia & Entertainment

Consumer Non DurablesAuto

FinanceTrading

Engineering ServicesPetroleum ProductsHealthcare Services

GasDiversified Consumer Services

CementPower

ChemicalsAuto Ancillaries 0.08%

0.47%0.56%

1.02%1.21%1.49%1.49%

2.05%2.17%

2.67%3.33%3.40%

4.74%5.20%5.39%

5.90%5.92%6.08%6.30%

7.04%7.40%

8.47%12.80%


Religare Invesco Mid N Small Cap Fund(An Open-Ended Equity Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment predominantly in equity and equity-related instruments of Mid and Small Cap

companies � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Key Facts


or before 18 months from the date of allotment : 1%

If redeemed/switched-out after 18 months from the date of allotment : Nil


For switch from Regular Plan to Direct Plan:

Applicable exit load For switch from Direct Plan

to Regular Plan: Nil** **However, if the Unit holder

redeems/switches-out such switched units from Regular Plan before completing 18 months from the date of original purchase, applicable exit load will be charged.



Inception Date 31th January, 2014



Benchmark IndexMSCI Europe-ND

Fund Manager & ExperienceNeelesh DhamnaskarTotal Experience 9 Years Experience in managing this fund: Since January 31, 2014


To generate capital appreciation by investing predominantly in units of Invesco Pan European Equity Fund, an overseas equity fund which invests primarily in equity securities of European companies with an emphasis on larger companies.

Religare Invesco Pan European Equity Fund(An Open-Ended Fund of Funds Scheme)

Suitable for Investors who are seeking*� capital appreciation over long-term � investment in units of invesco Pan European Equity Fund, an overseas equity fund � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Assets

Units of Overseas Mutual Fund 97.78Invesco Pan European Equity Fund [Lux] 97.78


Total 100.00

Rating


The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme.

Asset AllocationUnits of Overseas Mutual Fund 97.78%Cash & Cash Equivalent 2.22%

21Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer

Key Facts







Plan: Nil

Minimum InvestmentGrowth Option:` 5,000/- & in multiples of ` 1/- thereafter

Dividend Option:` 25,000/- & in multiples of ` 1/- thereafter

Additional Purchase` 1,000/- & in multiples of ` 1/- thereafter

Inception Date 01st June, 2010

NAV p.u. (`) As on 28th February, 2014Growth 1,267.9206 Dividend 1,088.7177

Direct Plan:Growth 1,276.7056 Monthly Dividend 1,072.7305

Benchmark Index65% - CRISIL MIP Blended Fund Index35% - Price of Gold


Fund Manager & ExperienceDebt Investments:Sujoy DasTotal Experience 17 Years Experience in managing this fund: Since September 9, 2010

Equity Investments:Pranav GokhaleTotal Experience 10 Years Experience in managing this fund: Since August 14, 2012

Gold ETF Investments:Nitish SikandTotal Experience 13 Years Experience in managing this fund: Since August 14, 2012


To generate regular income through a portfolio of fixed income securities, Gold ETFs and equity & equity related instruments.


Assets

Equity & Equity Related Instruments 19.39Housing Development Finance Corp. Ltd. 1.69ITC Ltd. 1.49Infosys Ltd. 1.45HDFC Bank Ltd. 1.25ICICI Bank Ltd. 0.95Idea Cellular Ltd. 0.92Tata Consultancy Services Ltd. 0.74Wipro Ltd. 0.72Larsen & Toubro Ltd. 0.54Reliance Industries Ltd. 0.53The Great Eastern Shipping Company Ltd. 0.48Bajaj Finance Ltd. 0.45Britannia Industries Ltd. 0.40Dr. Reddy’s Laboratories Ltd. 0.40Biocon Ltd. 0.40VA Tech Wabag Ltd. 0.38Oil & Natural Gas Corporation Ltd. 0.38Power Grid Corporation of India Ltd. 0.37The Jammu & Kashmir Bank Ltd. 0.34D.B.Corp Ltd. 0.33IPCA Laboratories Ltd. 0.32Apollo Hospitals Enterprise Ltd. 0.32Rallis India Ltd. 0.29Bharat Petroleum Corporation Ltd. 0.27Maruti Suzuki India Ltd. 0.25Tech Mahindra Ltd. 0.25Gujarat Pipavav Port Ltd. 0.24The Ramco Cements Ltd. 0.24NTPC Ltd. 0.24Bharat Forge Ltd. 0.24Tata Steel Ltd. 0.20Gujarat Mineral Development Corporation Ltd. 0.20PI Industries Ltd. 0.20Corporation Bank 0.20

Rating Company % of Net Assets

Rating


Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`)

Individuals/HUF Others

Direct Plan - Dividend Option 30-Dec-13 19.98667446 N.A. 1092.477930-Jan-13 0.02986710 N.A. 10.6844

Dividend Option 27-Feb-13 0.02111065 0.01809397 10.578130-Jan-13 0.02986710 0.02559914 10.680428-Dec-12 0.08527444 0.07308884 10.705829-Nov-12 0.05482305 0.04698891 10.77123Past performance may or may not be sustained in future. Dividend is on face value of `10/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.

Asset AllocationCorporate Debt 34.93%Equity Holdings 19.39%Exchange Traded Funds 17.53%Government Security 23.58%Money Market Instruments 1.04%Cash & Cash Equivalent 3.53%

4YTM 9.93%Average Maturrity 1650 daysModified Duration 1103 days

Zee Entertainment Enterprises Ltd. 0.19Crompton Greaves Ltd. 0.19Greaves Cotton Ltd. 0.19Gujarat State Petronet Ltd. 0.19Hindustan Zinc Ltd. 0.17Kalpataru Power Transmission Ltd. 0.15VIP Industries Ltd. 0.14Redington (India) Ltd. 0.13Sadbhav Engineering Ltd. 0.12Oriental Bank of Commerce 0.12HSIL Ltd. 0.12

Money Market Instruments 1.04Certificate of DepositKarur Vysya Bank Ltd. CRISIL A1+ 0.70Yes Bank Ltd. ICRA A1+ 0.34

Corporate Debt 34.93Religare Finvest Ltd. ICRA AA- 10.91Shriram Transport Finance Company Ltd. CRISIL AA 9.06Shriram Transport Finance Company Ltd. CARE AA+ 9.05ICICI Home Finance Company Ltd. CARE AAA 5.15Mahindra Vehicle Mfg. Ltd. ICRA AA 0.57LIC Housing Finance Ltd. CRISIL AAA 0.18

Mutual Fund/Exchange TradedFund Units 17.53Religare Invesco GoldExchange Traded Fund 17.53

Government Security 23.588.83% GOI (MD 25/11/2023) Sovereign 23.58


Total 100.00


Religare Invesco Monthly Income Plan (MIP) Plus(An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus. The term ‘Plus’ has been used in terms of the asset allocation and not in terms of returns/yield.)Suitable for Investors who are seeking*� regular income over medium to long term � provide regular income by investing in fixed income securities, Gold ETFs and equity

& equity related instruments � medium risk (YELLOW) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





22

Key Facts







Plan: Nil

Minimum InvestmentGrowth Option:` 5,000/- & in multiples of ` 1/- thereafter

Dividend Option:` 25,000/- & in multiples of ` 1/- thereafter


Inception Date 1st June, 2010

NAV p.u. (`) As on 28th February, 2014Growth 1,248.0863 Dividend 1,029.4258

Direct Plan:Growth 1,261.5175

Benchmark IndexCRISIL MIP Blended Fund Index


Fund Manager & ExperienceDebt Investments:Sujoy DasTotal Experience 17 Years Experience in managing this fund: Since September 16, 2010

Equity Investments:Pranav GokhaleTotal Experience 10 Years Experience in managing this fund: Since August 14, 2012


To generate regular income through a portfolio of predominantly high quality fixed income securities and with a small exposure to equity and equity related instruments.


Assets



ITC Ltd. 1.52

Infosys Ltd. 1.40

HDFC Bank Ltd. 1.27




Wipro Ltd. 0.73






Biocon Ltd. 0.40


Bajaj Finance Ltd. 0.36




D.B.Corp Ltd. 0.34








Rating




Dividend Option 30-Oct-13 8.14870250 7.80418127 1051.727627-Sep-13 16.64715005 15.94332062 1049.240930-May-13 5.17371113 4.40823614 1043.573429-Apr-13 3.91265143 3.33369643 1035.1367


Asset AllocationCorporate Debt 3.38%Equity Holdings 19.78%Government Security 67.42%Cash & Cash Equivalent 9.42%




NTPC Ltd. 0.24


Gujarat Mineral Development Corporation Ltd. 0.22













Oriental Bank of Commerce 0.13

HSIL Ltd. 0.12


Corporate Debt 3.38Religare Finvest Ltd. ICRA AA- 3.38



Total 100.00

Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer

Religare Invesco Monthly Income Plan(An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus.)

Suitable for Investors who are seeking*� regular income over medium to long term � provide regular income by investing in high quality fixed income securities and with

a small exposure to equity and equity related instruments � medium risk (YELLOW) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






23

Key Facts

Load StructureEntry Load1 Nil

Exit Load2 Nil

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

` 1/- thereafter

Additional Purchase` 1,000/- & in multiples of

` 1/- thereafter

Inception Date

17th November, 2006

NAV p.u. (`) As on 28th February, 2014

Growth 1,749.3527

Daily Dividend 1,001.0800

Weekly Dividend 1,002.0800

Monthly Dividend 1,003.4240

Bonus 1,749.3686





Bonus 1,750.5094

Regular Plan:Growth 1,663.3006


Institutional Plan:Growth 1,702.9575



AAUM for the quarter ending

December, 2013 ` 5,221.27 crores

Fund Manager & ExperienceKrishna Cheemalapati

Total Experience 15 Years

Experience in managing this fund:

Since April 25, 2011


To provide reasonable returns, commensurate with low risk while providing a high level of liquidity,through a portfolio of money market and debt securities.


Assets

Money Market Instruments 95.18

Certificate of DepositIDBI Bank Ltd. CRISIL A1+ 4.29Syndicate Bank CARE A1+ 3.96Indusind Bank Ltd. CRISIL A1+ 3.74Union Bank of India CRISIL A1+ 3.19Yes Bank Ltd. ICRA A1+ 2.13Oriental Bank of Commerce CRISIL A1+ 1.71Canara Bank CRISIL A1+ 1.60Bank of India CRISIL A1+ 1.60Bank of Maharashtra CRISIL A1+ 1.60Allahabad Bank ICRA A1+ 1.59Vijaya Bank CARE A1+ 1.59Corporation Bank CRISIL A1+ 1.58Indian Overseas Bank CRISIL A1+ 1.58South Indian Bank Ltd. CARE A1+ 1.37UCO Bank CRISIL A1+ 1.19Andhra Bank CARE A1+ 0.80Kotak Mahindra Bank Ltd. CRISIL A1+ 0.80Axis Bank Ltd. CRISIL A1+ 0.80The Jammu & Kashmir Bank Ltd. CRISIL A1+ 0.79ICICI Bank Ltd. ICRA A1+ 0.53Allahabad Bank CARE A1+ 0.24Ratnakar Bank Ltd. ICRA A1+ 0.08Tamilnad Mercantile Bank CRISIL A1+ 0.05

Commercial PaperIndiabulls Housing Finance Ltd. CRISIL A1+ 6.38Indian Oil Corporation Ltd. ICRA A1+ 6.37SREI Equipment Finance Ltd. ICRA A1+ 3.98Magma Fincorp Ltd. CARE A1+ 3.65


Rating



Religare Invesco Liquid Fund(An Open-Ended Liquid Scheme)

Suitable for Investors who are seeking*� regular income over short term � provide reasonable returns with high liquidity by investing in money market and debt securities� low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.








Direct Plan - Monthly Dividend 26-Feb-14 5.01108019 NA 1009.380330-Jan-14 5.88221648 NA 1010.498030-Dec-13 6.2118673 NA 1010.921228-Nov-13 5.82884247 NA 1010.4281

Monthly Dividend 26-Feb-14 4.97015175 NA 1009.328130-Jan-14 5.83502341 NA 1010.437930-Dec-13 6.16366941 NA 1010.859128-Nov-13 5.78494169 5.53944652 1010.37203Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.

Rating Profile Maturity ProfileCRISIL A1+, CARE A1+, ICRA A1+ 90.40%Sovereign 4.78%Fixed Deposits 0.64%Cash & Cash Equivalent 4.18%

< 31 days 73.38%31 - 90 days 22.44%Cash & Cash Equivalent 4.18%


Piramal Enterprises Ltd. ICRA A1+ 3.19Chennai Petroleum Corporation Ltd. ICRA A1+ 3.19Sesa Sterlite Ltd. CRISIL A1+ 2.71Gruh Finance Ltd. CRISIL A1+ 2.39Small Industries Dev Bank of India CARE A1+ 2.39National Housing Bank ICRA A1+ 2.38Reliance Capital Ltd. CRISIL A1+ 2.37India Infoline Finance Ltd. ICRA A1+ 1.97Aditya Birla Finance Ltd. ICRA A1+ 1.60Coromandel International Ltd. CRISIL A1+ 1.59JSW Steel Ltd. CARE A1+ 1.59Jindal Steel & Power Ltd. CARE A1+ 1.58Tata Capital Financial Services Ltd. ICRA A1+ 1.19Sundaram Finance Ltd. ICRA A1+ 0.80Tube Investments of India Ltd. CRISIL A1+ 0.80TGS Investment & Trade Pvt Ltd. ICRA A1+ 0.80Talwandi Sabo Power Ltd. CRISIL A1+ 0.79Nirma Ltd. CRISIL A1+ 0.79S.D. Corporation Pvt. Ltd. ICRA A1+ 0.79Thomas Cook (India) Ltd. CRISIL A1+ 0.32

Treasury Bill 182 Days Tbill (MD 13/03/2014) Sovereign 1.6091 Days Tbill (MD 20/03/2014) Sovereign 1.59182 Days TBill (MD 27/03/2014) Sovereign 1.59

Fixed Deposits 0.64Vijaya Bank 0.64


Total 100.00

24

Key Facts




Inception Date 18th January, 2007

NAV p.u. (`) As on 28th February, 2014Growth 1,752.7229 Daily Dividend 1,001.7200 Weekly Dividend 1,022.0551 Monthly Dividend 1,026.9602 Discretionary Dividend 1,118.4820 Bonus 1,125.1470

Direct Plan:Growth 1,760.0472Daily Dividend 1,005.9100Weekly Dividend 1,020.5472 Monthly Dividend 1,103.9084Discretionary Dividend 1,123.3448Bonus 1,130.0102

Regular Plan:Growth 1,667.8056 Daily Dividend 1,053.3694 Weekly Dividend 1,031.8270 Monthly Dividend 1,037.3115 Bonus 1,608.3795



Fund Manager & ExperienceKrishna CheemalapatiTotal Experience 15 Years Experience in managing this fund: Since January 1, 2013


To provide liquidity and optimal returns to the investor by investing primarily in a mix of short term debt and money market instruments which results in a portfolio having marginally higher maturity and moderately higher credit risk as compared to a liquid fund at the same time maintaining a balance between safety and liquidity.


AssetsRating Company % of Net

AssetsRating



Religare Invesco Ultra Short Term Fund(An Open-Ended Debt Scheme)

Suitable for Investors who are seeking*� regular income over short term � provide optimal returns while maintaining balance between safety and liquidity by investing in

a mix of short term debt and money market instruments � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.








Direct Plan - Monthly Dividend 27-Feb-13 10.07359678 N.A. 1020.5484

Monthly Dividend 26-Feb-14 5.28429403 5.06087792 1033.289530-Jan-14 5.89784670 5.64849002 1034.494330-Dec-13 6.01191654 5.75773707 1034.820028-Nov-13 4.66475536 N.A. 1033.0550

Discretionary Dividend 16-Jan-12 N.A. 23.73203670 1031.443226-Sep-11 N.A. 2.55872220 1006.022621-Jul-11 N.A. 6.70331059 1008.8782

Regular Plan - Monthly Dividend 26-Feb-14 4.42028117 N.A. 1042.597630-Jan-14 3.29212106 N.A. 1041.344530-Dec-13 5.43463791 N.A. 1041.673728-Nov-13 3.30236228 N.A. 1038.9073


Rating Profile Maturity ProfileCRISIL A1+, CARE A1+, ICRA A1+, 76.39% IND A1+ CRISIL AAA, ICRA AAA 4.90%Cash & Cash Equivalent 18.71%

< 31 days 8.99%31 - 90 days 12.21%91 - 180 days 59.23%181 days - 1 year 0.86%Cash & Cash Equivalent 18.71%


Essel Mining And Industries Ltd. ICRA A1+ 7.96Jindal Steel & Power Ltd. CARE A1+ 7.94Afcons Infrastructure ICRA A1+ 5.56Shapoorji Pallonji & Co Ltd. ICRA A1+ 3.98SREI Equipment Finance Ltd. CARE A1+ 0.82IL&FS Financial Services Ltd. IND A1+ 0.05

Corporate Debt 4.90Power Finance Corporation Ltd. ICRA AAA 4.08LIC Housing Finance Ltd. CRISIL AAA 0.81



Certificate of DepositIndian Bank IND A1+ 8.12Dena Bank CRISIL A1+ 7.98IDBI Bank Ltd. ICRA A1+ 7.98Bank of Baroda CRISIL A1+ 7.96Bank of Maharashtra CRISIL A1+ 4.09Karur Vysya Bank Ltd. ICRA A1+ 4.08

Commercial PaperTata Power Company Ltd. ICRA A1+ 9.87

25

Key Facts


or before 30 days from the date of allotment : 0.25%

If redeemed/switched-out after 30 days from the date of allotment : Nil




Plan: Nil




NAV p.u. (`) As on 28th February, 2014Growth 1,679.5299 Daily Dividend 1,004.7067Weekly Dividend 1,019.8425 Monthly Dividend 1,047.8500 Discretionary Dividend 1,090.5480

Direct Plan:Growth 1,696.5539Daily Dividend 1,002.7518 Weekly Dividend 1,019.9699Monthly Dividend 1,050.8467 Discretionary Dividend 1,112.3327Bonus 1,696.5983

Plan B:Growth 1,673.2001 Daily Dividend 1,031.8000 Weekly Dividend 1,016.3507 Monthly Dividend 1,112.9865

Benchmark IndexCRISIL Short Term Bond Fund Index

AAUM for the quarter ending December, 2013 ` 2,025.84 crores

Fund Manager & ExperienceSujoy DasTotal Experience 17 Years Experience in managing this fund: Since September 9, 2010


To generate steady returns with a moderate risk for investors by investing in a portfolio of short-medium term debt and money market instruments.

Rating Profile Maturity ProfileCRISIL AAA. CARE AAA, ICRA AAA 63.86%CRISIL A1+ 5.85%ICRA AA+, CARE AA+ 12.98%CRISIL AA, CARE AA 1.99%Sovereign 0.87%Cash & Cash Equivalent 14.45%

< 31 days 0.06%31 - 90 days 6.36%91 - 180 days 9.51%181 days - 1 year 34.91%1 - 2 years 12.85%2 - 3 years 17.73%3 - 5 years 3.26%5 - 10 years 0.87%Cash & Cash Equivalent 14.45%



Assets

Corporate Debt 78.83Power Finance Corporation Ltd. CRISIL AAA 15.36LIC Housing Finance Ltd. CRISIL AAA 11.67Rural Electrification Corporation Ltd. CRISIL AAA 10.06Power Grid Corporation of India Ltd. CRISIL AAA 6.67National Bank For Agriculture and Rural Development CRISIL AAA 6.43Indiabulls Housing Finance Ltd. CARE AA+ 3.87IDFC Ltd. ICRA AAA 3.07Export Import Bank of India CRISIL AAA 3.06Magma Fincorp Ltd. CARE AA+ 3.05Steel Authority of India Ltd. CARE AAA 3.03L&T Finance Ltd. ICRA AA+ 2.46Shriram Transport Finance Company Ltd. CARE AA+ 2.15Housing Development Finance Corp. Ltd. CRISIL AAA 2.14


Rating

Power Finance Corporation Ltd. ICRA AAA 1.54

Petronet LNG Ltd. ICRA AA+ 1.46

Shriram Transport Finance

Company Ltd. CRISIL AA 1.23

Tata Motors Ltd. CRISIL AAA 0.84

Shriram City Union Finance Ltd. CARE AA 0.46

Tata Motors Finance Ltd. CRISIL AA 0.31

Money Market Instruments 5.85Commercial PaperSesa Sterlite Ltd. CRISIL A1+ 5.79

Cholamandalam Investment

and Finance Company Ltd. CRISIL A1+ 0.06






Direct Plan - Monthly Dividend 26-Feb-14 4.53559322 N.A. 1056.170330-Jan-14 4.80483148 4.60168669 1056.515830-Dec-13 5.84079486 5.59385029 1057.845228-Nov-13 2.85408143 N.A. 1054.0125

Monthly Dividend 26-Feb-14 3.84734074 3.68467796 1052.357130-Jan-14 4.00132476 3.83215165 1052.554730-Dec-13 4.96068576 4.75095156 1053.785828-Nov-13 2.07184882 1.98425256 1050.0787

Plan B - Monthly Dividend 29-Apr-13 14.15411326 12.05962963 1086.388726-Mar-13 0.06962017 0.0596714 10.781327-Feb-13 0.01316549 0.01128417 10.717230-Jan-13 0.07628689 0.06538558 10.78893Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.



Religare Invesco Short Term Fund(An Open-Ended Income Scheme)

Suitable for Investors who are seeking*� regular income over short to medium term � provide steady returns by investing in short-medium term debt and money market

instruments. � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





26

Key Facts


or before 1 month from the date of allotment : 0.25%

If redeemed/switched-out after 1 month from the date of allotment : Nil




Plan: Nil



Inception Date 28th August, 2009

NAV p.u. (`) As on 28th February, 2014Growth 1,444.7567 Daily Dividend 1,000.2900Monthly Dividend 1,018.2662

Direct Plan:Growth 1,449.1581Daily Dividend 1,000.2900 Monthly Dividend 1,018.2801 Discretionary Dividend 1,118.7514Bonus 1,449.1470

Regular Plan:Growth 1,392.4103 Daily Dividend 1,002.0000Monthly Dividend 1,021.5222 Bonus 1,444.7712



Fund Manager & ExperienceNitish SikandTotal Experience 13 Years Experience in managing this fund: Since August 28, 2009


To generate high level of current income (vis-a-vis treasury bills) consistent with preservation of capital and maintenance of liquidity by investing primarily in investment-grade debt securities and money market instruments.


Assets


Commercial PaperMuthoot Finance Ltd. CRISIL A1+ 9.52India Infoline Finance Ltd. CRISIL A1+ 9.48Talwandi Sabo Power Ltd. CRISIL A1+ 8.28Alkem Laboratories Ltd. CRISIL A1+ 7.66EID Parry India Ltd. CRISIL A1+ 6.33Eros International Media Ltd. CARE A1+ 6.31Jindal Steel & Power Ltd. CARE A1+ 6.29Manaksia Ltd. CARE A1+ 5.71Dewan Housing Finance Corporation Ltd. CRISIL A1+ 5.67JK Lakshmi Cement Ltd. CARE A1+ 5.08Bajaj Electricals Ltd. ICRA A1+ 3.19


Rating



Religare Invesco Credit Opportunities Fund(An Open-Ended Income Scheme)

Suitable for Investors who are seeking*� regular income over short to medium term � provide high level of current income (vis-à-vis treasury bills) by investing in

investment-grade low duration debt securities and money market instruments � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.








Direct Plan - Monthly Dividend 26-Feb-14 5.44157413 5.21150832 1024.732930-Jan-14 6.25349698 5.98910366 1025.774830-Dec-13 6.53668420 6.26031793 1026.138228-Nov-13 6.17744789 5.91626987 1025.6772


Discretionary Dividend 31-May-12 N.A. 0.25157612 10.3544

Regular Plan - Monthly Dividend 26-Feb-14 4.51369569 4.32285991 1026.872230-Jan-14 5.18776544 4.96843048 1027.737230-Dec-13 5.43362556 5.20389581 1028.052728-Nov-13 5.16930450 4.95075006 1027.71353Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.

Rating Profile Maturity ProfileCRISIL A1+, CARE A1+, ICRA A1+, 98.26% BWR A1+ Cash & Cash Equivalent 1.74%

< 31 days 56.62%31 - 90 days 41.64%Cash & Cash Equivalent 1.74%


JK Cement Ltd. CARE A1+ 3.19

Rohit Surfactants Pvt Ltd. CRISIL A1+ 3.19

Sadashiva Sugars Ltd. CRISIL A1+ 3.18

Redington (India) Ltd. ICRA A1+ 3.17

S.D. Corporation Pvt. Ltd. ICRA A1+ 3.15

India Infoline Finance Ltd. ICRA A1+ 3.14

TVS Credit Services BWR A1+ 2.55

HSIL Ltd. CARE A1+ 1.27

National Engineering

Industries Ltd. CARE A1+ 1.26

NRB Bearing Ltd. CRISIL A1+ 0.63


Total 100.00


Key Facts


or before 45 days from the date of allotment : 0.50%

If redeemed/switched-out after 45 days from the date of allotment : Nil




Plan: Nil




NAV p.u. (`) As on 28th February, 2014Growth 1,262.6257 Monthly Dividend 1,032.7213 Quarterly Dividend 1,057.7926 Annual Dividend 1,093.0987 Bonus 1,262.6005

Direct Plan:Growth 1,273.1843 Monthly Dividend 1,043.4499 Quarterly Dividend 1,059.1775 Annual Dividend 1,165.1610Bonus 1,273.2143

Benchmark IndexCRISIL Composite Bond Fund Index


Fund Manager & ExperienceNitish SikandTotal Experience 13 Years Experience in managing this fund: Since December 30, 2010


To generate regular income and capital appreciation by investing in a portfolio of medium term debt and money market instruments.


AssetsRating Company % of Net

AssetsRating

Record Date

Rating Profile Maturity ProfileCRISIL AAA, CARE AAA, ICRA AAA 52.37%CRISIL A1+, ICRA A1+ 18.46%Cash & Cash Equivalent 29.17%

< 31 days 8.22%91 - 180 days 10.23%181 days - 1 year 5.51%1 - 2 years 20.74%2 - 3 years 16.71%3 - 5 years 9.42%Cash & Cash Equivalent 29.17%



Rate (`/Unit) Cum-Dividend NAV p. u. (`)


Direct Plan - Monthly Dividend 30-May-13 11.14546757 N.A. 1021.563829-Apr-13 11.45890764 N.A. 1021.887826-Mar-13 0.04590834 N.A. 10.140327-Feb-13 0.05294113 N.A. 10.1484

Monthly Dividend 26-Feb-14 3.48037835 3.33323048 1036.593030-Jan-14 1.62101139 1.55247621 1034.368330-May-13 10.70684257 9.12246332 1021.063229-Apr-13 10.42602755 8.88320145 1020.7426

Direct Plan - Quarterly Dividend 17-Jun-13 23.34655298 N.A. 1053.769515-Mar-13 0.12897476 N.A. 10.4107

Quarterly Dividend 17-Jun-13 17.39434328 16.65892306 1048.744715-Mar-13 0.12988965 0.11132206 10.385817-Dec-12 0.23458690 0.20106945 10.458617-Sep-12 0.11539995 0.09890957 10.3806

Direct Plan - Annual Dividend 15-Mar-13 0.13785312 N.A. 11.1275

Annual Dividend 15-Mar-13 0.65716206 N.A. 11.100915-Mar-12 0.62976036 0.53977281 10.910415-Mar-11 0.06061157 N.A. 10.12213Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior to face value change is on face value of ̀ 10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.


Religare Invesco Medium Term Bond Fund(An Open-Ended Income Scheme)

Suitable for Investors who are seeking*� regular income over medium term � provide regular income and capital appreciation by investing in medium term debt and money

market instruments having residual maturity upto 5 years � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





LIC Housing Finance Ltd. CARE AAA 0.67

Money Market Instruments 18.46Certificate of DepositCorporation Bank CRISIL A1+ 1.48

Commercial Paper Sundaram Finance Ltd. CRISIL A1+ 6.74Tata Power Company Ltd. ICRA A1+ 4.98S.D. Corporation Pvt. Ltd. ICRA A1+ 3.28Afcons Infrastructure ICRA A1+ 1.97


Total 100.00

Corporate Debt 52.37Rural Electrification Corporation Ltd. CRISIL AAA 12.08Power Finance Corporation Ltd. CRISIL AAA 11.44Housing Development Finance Corp. Ltd. CRISIL AAA 10.74Small Industries Development Bank of India CARE AAA 5.37Export Import Bank of India CRISIL AAA 4.76Power Grid Corporation of India Ltd. CRISIL AAA 3.98IDFC Ltd. ICRA AAA 3.33

28

Key Facts

Load StructureEntry Load1 Nil

Exit Load2 Nil

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


Inception Date

02nd August, 2007

NAV p.u. (`) As on 28th February, 2014

Growth 1,452.5478


Quarterly Dividend 1,004.8229

Annual Dividend 1,277.5482

Discretionary Dividend 1,074.1140

Bonus 1,079.3711



Quarterly Dividend 1,016.4847

Annual Dividend 1,269.1568

Discretionary Dividend 1,083.7368

Bonus 1,086.9539

Plan B:Growth 1,306.6141


Benchmark IndexCRISIL Composite Bond Fund Index

AAUM for the quarter ending December, 2013 ` 1,195.04 crores

Fund Manager & ExperienceSujoy Das

Total Experience 17 Years

Experience in managing this fund:

Since September 9, 2010


To generate optimal returns while maintaining liquidity through active management of the portfolio by investing in debt and money market instruments. As the portfolio of the scheme will be actively managed, the Scheme may have a high turnover in order to achieve the investment objective.

Rating Profile Maturity ProfileCRISIL AAA, CARE AAA, ICRA AAA 41.55%CARE AA+ 1.46%Sovereign 30.06%Cash & Cash Equivalent 26.93%

31 - 90 days 0.19%91 - 180 days 0.50%181 days - 1 year 8.71%1 - 2 years 5.84%2 - 3 years 19.21%3 - 5 years 5.88%5 - 10 years 25.53%10 - 15 years 7.21%Cash & Cash Equivalent 26.93%



Assets

Corporate Debt 43.01Housing Development Finance Corp. Ltd. CRISIL AAA 9.58National Housing Bank CRISIL AAA 7.25Rural Electrification Corporation Ltd. CRISIL AAA 4.94LIC Housing Finance Ltd. CRISIL AAA 4.86Airport Authority of India Ltd. CRISIL AAA 4.83National Bank For Agriculture and Rural Development CRISIL AAA 3.90Reliance Utilities & Power Pvt Ltd. CRISIL AAA 2.69Steel Authority of India Ltd. CARE AAA 2.38


Rating

Indiabulls Housing Finance Ltd. CARE AA+ 1.46Power Grid Corporation of India Ltd. CRISIL AAA 0.95Power Finance Corporation Ltd. ICRA AAA 0.19

Government Security 30.068.83% GOI (MD 25/11/2023) Sovereign 14.138.28% GOI (M/D 21/09/2027) Sovereign 7.218.12% GOI (MD 10/12/2020) Sovereign 5.547.28% GOI (MD 03/06/2019) Sovereign 3.18





Direct Plan - Monthly Dividend 30-May-13 25.62679097 21.83466708 1108.706329-Apr-13 15.42897466 13.14585883 1097.064127-Feb-13 0.07784125 0.06671762 10.882930-Jan-13 0.06351384 N.A. 10.8666Monthly Dividend 30-May-13 24.84067055 21.16480139 1100.428729-Apr-13 14.20182075 12.10027173 1088.283227-Feb-13 0.07400647 0.063431 10.804830-Jan-13 0.12516763 0.10728137 10.8628Direct Plan - Annual Dividend 15-Mar-13 1.57136968 N.A. 13.9281Annual Dividend 15-Mar-12 0.81094060 N.A. 11.165115-Mar-11 0.39547700 N.A. 10.652715-Mar-10 0.01400000 0.01300000 10.0251Direct Plan - Quarterly Dividend 15-Mar-13 0.13645317 0.00000000 10.3162Quarterly Dividend 15-Mar-13 0.25194041 0.00000000 10.306115-Sep-12 0.23035807 0.00000000 10.349215-Jun-12 0.23079458 0.00000000 10.355415-Mar-12 0.19168513 0.00000000 10.2854Discretionary Dividend 27-Jun-12 N.A. 0.45192015 10.6326Plan B - Monthly Dividend 30-Jul-12 0.07448179 0.063792 10.922528-Feb-12 0.11589883 0.09920477 10.635828-Oct-11 0.03707525 0.03177745 10.400928-Sep-11 0.04384749 0.03758136 10.4085Plan B - Quarterly Dividend 15-Mar-13 0.2299179 0.00000000 10.322615-Sep-12 0.163937603 0.00000000 10.278215-Jun-12 0.05728105 0.00000000 10.116515-Mar-11 N.A. 0.12951819 10.40923Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior to face value change is on face value of ̀ 10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.



Religare Invesco Active Income Fund(An Open-Ended Income Scheme)

Suitable for Investors who are seeking*� regular income over medium to long term � provide optimal returns while maintaining liquidity through actively managed

portfolio of debt and money market instruments � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Key Facts







Plan: Nil




NAV p.u. (`) As on 28th February, 2014Growth 1,084.5563 Daily Dividend 1,003.7200 Monthly Dividend 1,010.5970 Bonus 1,084.5298

Direct Plan:Growth 1,097.4010Daily Dividend 1,003.7200 Monthly Dividend 1,010.6523 Bonus 1,097.4017





To generate optimal returns by investing in a portfolio of debt & money market instruments issued primarily by banks.




Direct Plan - Monthly Dividend 26-Feb-14 4.03483343 3.86424360 1015.177730-Jan-14 5.28938243 5.06575118 1016.787630-Dec-13 6.20409117 5.94178670 1017.961428-Nov-13 3.12723164 2.99501455 1014.0130



Rating Profile Maturity ProfileCRISIL A1+, CARE A1+, ICRA A1+, 69.36% IND A1+ CRISIL AAA, ICRA AAA 25.05%Cash & Cash Equivalent 5.59%

< 31 days 66.60%31 - 90 days 2.77%1 - 2 years 2.89%2 - 3 years 18.04%5 - 10 years 4.11%Cash & Cash Equivalent 5.59%



Assets

Corporate Debt 25.05Power Finance Corporation Ltd. CRISIL AAA 11.16Punjab National Bank ICRA AAA 2.77Rural Electrification Corporation Ltd. CRISIL AAA 2.76State Bank of India CRISIL AAA 2.74State Bank of Bikaner and Jaipur CRISIL AAA 1.38Punjab National Bank CRISIL AAA 1.38Bank of Baroda CRISIL AAA 1.38State Bank of Mysore CRISIL AAA 1.37IDFC Ltd. ICRA AAA 0.06Union Bank of India CRISIL AAA 0.05


Rating

Money Market Instruments 69.36Certificate of DepositIndian Bank IND A1+ 13.97Corporation Bank CRISIL A1+ 10.89Canara Bank CRISIL A1+ 9.73Bank of India CRISIL A1+ 6.98Bank of Baroda CRISIL A1+ 6.98Andhra Bank CARE A1+ 6.98State Bank of Hyderabad ICRA A1+ 6.97Allahabad Bank CARE A1+ 4.19Karur Vysya Bank Ltd. ICRA A1+ 2.50South Indian Bank Ltd. CARE A1+ 0.17Cash & Cash Equivalent 5.59

Total 100.00


Religare Invesco Bank Debt Fund(An Open-Ended Debt Scheme)

Suitable for Investors who are seeking*� regular income over short to medium term � provide optimal returns by investing in debt and money market instruments issued

primarily by banks � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





30

Key Facts


or before 6 months from the date of allotment : 2%

If redeemed/switched-out after 6 months but on or before 1 year from the date of allotment : 1%





Plan: Nil




NAV p.u. (`) As on 28th February, 2014Growth 10.1600Dividend 10.1594

Direct Plan:Growth 10.1893 Dividend 10.1887

Benchmark IndexPrice of Gold




To provide returns that closely corresponds to returns provided by Religare Invesco Gold Exchange Traded Fund

The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme.

Asset AllocationExchange Traded Funds 100.19%Cash & Cash Equivalent -0.19%


Assets

Exchange Traded Funds 100.19Religare Invesco Gold Exchange Traded Fund 100.19

Cash & Cash Equivalent -0.19

Total 100.00

Rating

Please refer Inside Back Cover for 1,2, Note on Direct Plan and Disclaimer


Religare Invesco Gold Fund(An Open-Ended Fund of Funds Scheme)

Suitable for Investors who are seeking*� regular income and capital appreciation over medium to long-term � investment in units of Religare Invesco Gold ETF, which in

turn invests in physical gold � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





31

% of Net Assets

Rating

Key Facts




Inception Date 14th September, 2007

NAV p.u. (`) As on 28th February, 2014Growth 1,493.7928 Daily Dividend Reinvestment 1,001.3575Bonus 1,493.6911

Direct Plan:Growth 1,498.7670 Daily Dividend Reinvestment 1,000.0100Bonus 1,498.6694





To provide liquidity to the investors while mirroring overnight returns.

4YTM 7.69%Average Maturrity 1 dayModified Duration 1 day

PortfolioCompany

Cash & Cash Equivalent 100.00*

Total 100.00



Religare Invesco Overnight Fund(An Open-Ended Liquid Scheme)

Suitable for Investors who are seeking*� optimal returns over very short duration � mirroring overnight return by investing in CBLO, reverse repos, debt and money

market instruments � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





% of Net Assets

*This includes deployment of Rs. 10.73 crores in Collateralized Borrowing & Lending Obligation (CBLO).

32

Key Facts




Inception Date 9th February, 2008

NAV p.u. (`) As on 28th February, 2014Growth 1,411.5766 Weekly Dividend 1,050.9618 Monthly Dividend 1,130.0195 Bonus 1,411.5723

Direct Plan:Growth 1,419.7188 Weekly Dividend 1,054.3834 Monthly Dividend 1,121.4771Bonus 1,419.6829

Benchmark IndexI-Sec Si-BEX




To generate optimal returns by investing in a portfolio of securities issued and guaranteed by Central and State Government.


Assets

Money Market Instruments 19.47Treasury Bill91Days Tbill (MD 27/03/2014) Sovereign 19.47


Total 100.00

Rating



Religare Invesco Gilt Fund - Short Duration Plan(An Open-Ended Dedicated Gilt Fund)

Suitable for Investors who are seeking*� credit risk free returns over short to medium term � provide optimal returns by investing in securities issued and guaranteed by

Central and State Government with portfolio maturity of less than 3 years � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Record DateRate (`/Unit)

Cum-Dividend NAV p. u. (`)Individuals/HUF Others

Direct Plan - Monthly Dividend 26-Feb-14 5.31618936 NA 1127.822030-Jan-14 6.20159751 NA 1128.958230-Dec-13 6.55624391 NA 1129.413328-Nov-13 5.50835769 NA 1128.0686

Monthly Dividend 26-Feb-14 5.33147184 NA 1136.395930-Jan-14 5.93025294 NA 1137.342430-Dec-13 6.49183889 NA 1137.895828-Nov-13 5.80815823 NA 1137.1199



Maturity Profile< 31 days 19.47%Cash & Cash Equivalent 80.53%

33

Key Facts




Inception Date 09th February, 2008

NAV p.u. (`) As on 28th February, 2014Growth 1,285.7928 Monthly Dividend 1,039.5361 Quarterly Dividend 977.9547 Annual Dividend 1,165.4327 Bonus 1,293.9752

Direct Plan:Growth 1,300.6672 Monthly Dividend 1,018.6714 Quarterly Dividend 1,001.5743 Annual Dividend 1,150.6700Bonus 1,300.6989

Benchmark IndexI-Sec Li-BEX




To generate optimal returns by investing in a portfolio of securities issued and guaranteed by Central and State Government.


Assets


7.28% GOI (MD 03/06/2019) Sovereign 16.43


Rating


Maturity Profile5 - 10 years 93.95%Cash & Cash Equivalent 6.05%



Religare Invesco Gilt Fund - Long Duration Plan(An Open-Ended Dedicated Gilt Fund)

Suitable for Investors who are seeking*� credit risk free returns over medium to long-term � provide optimal returns by investing in securities issued and guaranteed by

Central and State Government with portfolio maturity of greater than 3 years � low risk (BLUE) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.






Record Date

Rate (`/Unit)

Cum-Dividend NAV p. u. (`)Individuals/HUF Others

Direct Plan - Monthly Dividend 27-Jun-13 15.51513735 14.85916859 1040.909827-Feb-13 0.24276506 N.A. 10.4856

Monthly Dividend 27-Feb-13 0.12655283 0.10846819 10.456129-Nov-12 0.5426465 N.A. 10.616029-Mar-12 0.70462461 N.A. 11.028730-Dec-10 0.28574462 N.A. 10.6506

Direct Plan - Quarterly Dividend 15-Mar-13 0.21566408 N.A. 10.4334

Quarterly Dividend 15-Mar-13 0.35006562 N.A. 10.397415-Sep-12 0.436843941 N.A. 10.634915-Sep-11 0.16446324 N.A. 10.186715-Mar-11 0.09038997 0.08423749 10.1468

Direct Plan - Annual Dividend 15-Mar-13 0.2369606 N.A. 11.5586

Annual Dividend 15-Mar-12 0.64307184 0.55100000 11.350115-Mar-11 0.64684732 0.60240000 11.46753Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme.

34

Load StructureEntry Load1 NilExit Load Nil (For redemption in

Creation Unit size.)

Minimum Investment2

On Exchange : 1 Unit Directly with Mutual Fund : 1,000 Units and in multiples thereof.

Listing ExchangeNSE / BSE

NSE /BSE SymbolRELIGAREGO

BSE Code533172

ISININF205K01361


Pricing per Unit1 gram of gold (approx.)

NAV p.u. (`) As on 28th February, 20142,941.1825

Tracking Error3

0.03% (annualised)

Benchmark IndexPrice of Gold


Fund Manager & ExperienceNitish SikandTotal Experience 13 Years Experience in managing this fund: Since March 12, 2010


To generate returns that closely correspond to the returns provided by investment in physical gold in the domestic market, subject to tracking error.


Assets

Gold 99.58

Gold 99.58


Total 100.00


Religare Invesco Gold Exchange Traded Fund(An Open-Ended Gold Exchange Traded Fund)

Key Facts

Suitable for Investors who are seeking*� capital appreciation over long term � generate returns that closely correspond to the returns provided by investment in physical

gold in the domestic market, subject to tracking error � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





Please refer Inside Back Cover for 1, Note on Direct Plan and Disclaimer

2Investor can purchase units from stock exchange at traded price or subscribe the units through Mutual Fund in Creation unit size for Cash or by submitting Portfolio deposit and Cash Component at applicable NAV. 3Based on 1 year monthly data history.

35Please refer Inside Back Cover for 1 and Disclaimers


To generate returns whichclosely correspond to thereturns generated by securitiesas represented by CNX NiftyIndex, subject to tracking error,if any



Assets

Equity & Equity Related Instruments 99.89Infosys Ltd. 8.95ITC Ltd. 8.77Reliance Industries Ltd. 6.39Housing Development Finance Corp. Ltd. 6.20HDFC Bank Ltd. 6.01ICICI Bank Ltd. 5.85Tata Consultancy Services Ltd. 5.63Larsen & Toubro Ltd. 4.38Tata Motors Ltd. 3.64Oil & Natural Gas Corporation Ltd. 2.50Sun Pharmaceuticals Industries Ltd. 2.36Mahindra & Mahindra Ltd. 2.18HCL Technologies Ltd. 2.04State Bank of India 1.92Axis Bank Ltd. 1.90Wipro Ltd. 1.90Hindustan Unilever Ltd. 1.89Dr. Reddy’s Laboratories Ltd. 1.79Bharti Airtel Ltd. 1.66Bajaj Auto Ltd. 1.27Kotak Mahindra Bank Ltd. 1.26Lupin Ltd. 1.16Hero MotoCorp Ltd. 1.15NTPC Ltd. 1.12Tata Steel Ltd. 1.11Sesa Sterlite Ltd. 1.07

Asian Paints Ltd. 1.04



Cipla Ltd. 0.95

Cairn India Ltd. 0.93

Ultratech Cement Ltd. 0.91

Indusind Bank Ltd. 0.82




Hindalco Industries Ltd. 0.66

Bharat Heavy Electricals Ltd. 0.64

Ambuja Cements Ltd. 0.62

Tata Power Company Ltd. 0.61

IDFC Ltd. 0.57

ACC Ltd. 0.50

Bank of Baroda 0.50

NMDC Ltd. 0.49


Jindal Steel & Power Ltd. 0.44

Punjab National Bank 0.40

DLF Ltd. 0.31

Ranbaxy Laboratories Ltd. 0.27

Jaiprakash Associates Ltd. 0.25



Dividend Option26-Dec-12 5 596.3176

Record Date Rate


NAV p.u. (`)



Key Facts

Load StructureEntry Load1 NilExit Load2 Nil (For redemption in

Creation Unit size.)

Minimum Investment3

On Exchange : 1 Unit Directly with Mutual Fund : 5,000 Units and in multiples thereof.

Listing ExchangeNSE

NSE SymbolRELGRNIFTY

ISININF205K01DA9

Inception Date 13th June, 2011

Pricing per Unit1/10th of the value of S&P CNX Nifty (approx.)

NAV p.u. (`) As on 28th February, 2014631.6769

Tracking Error4

0.12% (annualised)

Benchmark IndexCNX Nifty


Fund Manager & ExperiencePranav GokhaleTotal Experience 10 Years Experience in managing this fund: Since June 13, 2011


Religare Invesco Nifty Exchange Traded Fund(An Open-Ended Exchange Traded Fund)

Suitable for Investors who are seeking*� capital appreciation over long term � generate returns that closely correspond to the returns generated by securities represented

by CNX Nifty Index, subject to tracking error, if any � high risk (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.





Banks

Software


Auto

Petroleum Products

Finance

Pharmaceuticals


Oil

Cement

Power

Minerals/Mining

Telecom - Services

Ferrous Metals

Gas



Construction 0.55%

0.64%

0.66%

0.81%

1.56%

1.66%

2.31%

2.75%

2.83%

3.43%

4.38%

6.52%

6.77%

6.86%

9.25%

11.70%

18.52%

18.68%

2Please refer to Key Information Memorandum / Scheme Information Document for exit load applicable for redemption of units in other than creation unit size directly with the Mutual Fund. Exit Load charged, if any, will be credited back to the scheme, net of service tax. 3Investor can purchase units from stock exchange at traded price or subscribe the units through Mutual Fund in Creation unit size for Cash or by submitting Portfolio deposit and Cash Component at applicable NAV. 4Based on 1 year monthly data history.

36

1The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor.2Exit load charged, if any, will be credited back to the scheme, net of service tax.4YTM : Yield to maturity should not be construed as minimum return offered by Scheme.

Note on Direct Plan : Pursuant to provisions of SEBI Circular No. CIR/IMD/DF/21/2012 dated September 13, 2012, a separate plan for direct investments (i.e. investments not routed through Distributor) under all Schemes of Religare Invesco Mutual Fund (except Exchange Traded Funds) was introduced with effect from January 1, 2013. Direct Plan will have a lower expense ratio excluding distribution expenses, commission for distribution of Units etc.

Disclaimer of IISL: The products on CNX Nifty Index is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL does not make and expressly disclaims any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) regarding the advisability of investing in the products linked to CNX Nifty Index or particularly in the ability of the CNX Nifty Index to track general stock market performance in India. Please read the full Disclaimers in relation to the CNX Nifty Index in the Offer Document / Prospectus / Information Statement.

The information contained herein should not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of Religare Invesco Asset Management Company Pvt. Ltd. (Religare Invesco AMC). Any information contained in this publication does not constitute and shall be deemed not to constitute an advice, an offer to sell/purchase or as an invitation or solicitation to do so for any security of any entity, and further Religare Invesco AMC/ affiliates / sponsors / trustee (Religare Invesco AMC Group) 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 scheme information documents/statement of additional information (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.

MKT

G/F

S/02

14/C

1026

� Agra : 0562 - 6459171

� Ahmedabad : 079 - 40300304

� Allahabad : 0532 - 6455816

� Bengaluru : 080- 42941000

� Baroda : 0265 - 6643389

� Bhopal : 0755 - 4253972

� Bhubaneshwar : 0674 - 6532062

� Chandigarh : 0172 - 6451315

� Chennai : 044 - 64502422

� Dehradun : 0135 - 6453212

� Delhi : 011 - 43789000

� Guwahati : 0361 - 2739917

� Hyderabad : 040 - 65444012

� Indore : 0731 - 4257351

� Jaipur : 0141 - 6451086

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� Kanpur : 0512 - 6451658

� Kochi : 0484 - 6453727

� Kolkata : 033 - 44031012

� Lucknow : 0522 - 4000841

� Madurai : 0452 - 6460114

� Mumbai (H.O) : 022 - 67310000

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� Patna : 0612 - 6550318 / 220661

� Pune : 020 - 30296394

� Raipur : 0771 - 4056046

� Surat : 0261 - 6450848

AMC Branches

37

Mutual Fund investments are subject to market r isks ,read a l l scheme re lated documents carefu l ly .

Religare Invesco Asset Management Company Private LimitedGYS Infinity, Paranjpe ‘B’ Scheme, Subhash Road,Vile Parle (E), Mumbai – 400057T +91 22 67310000 F +91 22 28371565

To invest:Call 1800-209-0007 • sms ‘Invest’ to 56677Invest Online www.religareinvesco.com

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Religare Invesco Mutual Fund_feb_2014

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