What is an...Britannia Industries Limited 5.95% Godrej Consumer Products Limited 4.24% Dabur India...

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What is an

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ETFs are simple to understand and are transparent to track

Can be bought / sold like any other stock on the exchange (Where the scheme is listed ) through terminals

Generally less expensive than investing in multiple individual securities.

Can be bought / sold anytime during market hours at real-time prices instead of end-of-day prices

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• ETFs can be used to provide a liquidity buffer across the asset allocation.#

Liquidity Management

• ETFs allow investors to gain exposure to an asset class that may be underrepresented in the asset allocation of investor’s portfolio.

Portfolio Completion

• ETFs assist in remaining fully invested while maintaining liquidity, thus minimizing the cash drag effect on the portfolio.

Cash Equitization

• Since ETFs are passive funds which may help to maintain market exposure while there are changes in sector/stock allocations in a portfolio, it avoids the risk of missing any market movement.

Portfolio Transitions

#Subject to the market condition and availability of spread and liquidity

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ETF – Exchange Traded Fund; ETP – Exchange Traded Product

Data as on January 31, 2019

Source: www.etfgi.com

Globally ETFs have witnessed strong growth across markets

Global ETF and ETP assets growth as at the end of January 2019

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Data as on January 31, 2019

Source: MFI

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Primary MarketSecondary

Market

Authorized Participants /Financial Institutions Stock Exchange

Fund Buyer

Seller

Buy / Sell

Market making /

Arbitrage

Cash ETF units

Cash ETF unitsSubscription /

redemption

in cash / kind

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Equity

• Our equity offerings cater to all type of investors’ risk profile

• Investment style approach varies from conservative, moderate, aggressive to very aggressive

• Our products include:

• Market – Cap Based – Large Cap, Large & Mid Cap, Mid Cap, Small Cap, Multi Cap

• Sector Focus – Banking, Power, Pharma

• Theme Based – Power & Infrastructure, Consumption

• Exchange Traded Funds

• Our portfolio comprises of well diversified, fixed income papers which aims to deliver relatively stable returns

• Our products are present across the yield curve:

• Liquid – Nil mark to market component & low volatility

• Ultra–Short Term & Short Term - Short to medium term horizon with medium risk appetite

• Long Term - Credit specific & gilt funds

• Hybrid - Stability of Debt + Power of Equity

Debt

Gold

• Gold portfolio consists of Exchange Traded Fund & Fund of Fund which aim to reap the returns of gold in non-physical form in arelatively cost effective & convenient way

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• To be a significant player in the ETF segment

– Reliance Nippon Life Asset Management Limited (formerly Reliance Capital Asset

Management Limited) (RNAM) is committed towards increasing its number of products,

AAUM and market share over the next few years.

• To offer a bouquet of ETFs including Generic, Thematic, Sector Specific and Active ETFs.

– RNAM is committed towards bringing out ETFs across various categories.

• To focus on product innovation

– RNAM is focused on innovating its product offerings and is exploring opportunities like Sector

ETFs, Commodity ETFs, Derivative ETFs, Style ETFs, Bond/Liquid ETFs, Inverse ETFs, Leveraged

ETFs, Synthetic ETFs.

• To create a market through substantial education & awareness

– As the Indian ETF market is at a nascent stage, RNAM is committed towards the growth of

the market by means of education and awareness

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• Reliance ETF Nifty BeES

• Reliance ETF Sensex

• Reliance ETF Junior BeES

• Reliance ETF Nifty 100

•Reliance ETF Nifty Midcap 150

• Reliance ETF NV20

• Reliance ETF Bank BeES

• Reliance ETF PSU Bank BeES

• CPSE ETF

• Reliance ETF Consumption

• Reliance ETF Dividend Opportunities

•Reliance ETF Infra BeES

•Reliance ETF Shariah BeES

•Reliance ETF Hang Seng BeES

• Reliance ETF Gold BeES

• Reliance ETF Liquid BeES

• Reliance ETF Long Term Gilt

❑ ❑

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Reliance ETF positioning: Having a foresight intothe growth of the segment, at Reliance MutualFund, the ETF offerings were re-branded as“Reliance ETFs” to create a distinct identitybetween passively managed listed products andactively managed offerings. Reliance ETFs givechoice to the investors to participate in theequity, debt & commodity markets at low cost asthey are generally less expensive than investing inmultiple individual securities or in physical gold.

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– Investment Objective

The investment objective of the scheme is to provide investment returns that, before expenses,closely correspond to the total returns of the securities as represented by the Nifty 50 index.However, there can be no assurance or guarantee that the investment objective of the Schemewill be achieved.

– About the Benchmark: Nifty 50 Index

The Nifty 50 is a well-diversified 50 stock index accurately reflecting overall market conditions.Nifty 50 Index comprises of 50 stocks and is computed based on free float market capitalisationweighted method. Stocks are selected based on their float adjusted market capitalization, liquidityand other factors. Nifty 50 Index is a broad based diversified index. Nifty 50 has a base period ofNovember 3, 1995 with a base index value of 1000.

Source: www.nseindia.com

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Data: As on January 31, 2019

Stock Allocation (%)

HDFC Bank Limited 10.29%

Reliance Industries Limited 9.67%

Housing Development Finance Corporation Limited 7.30%

Infosys Limited 6.56%

ITC Limited 5.50%

ICICI Bank Limited 5.41%

Tata Consultancy Services Limited 4.87%

Kotak Mahindra Bank Limited 3.86%

Larsen & Toubro Limited 3.74%

Axis Bank Limited 2.95%

Industry Allocation (%)

Banks 27.65%

Software 14.74%

Petroleum Products 11.47%

Finance 10.07%

Consumer Non Durables 9.87%

Auto 6.44%

Construction Project 3.74%

Pharmaceuticals 2.44%

Power 2.09%

Non - Ferrous Metals 1.54%

Note: The industries mentioned in the table is not a recommendation to buy/sell in the said industries. The scheme is currently holding investments in the said industriesand may or may not have future position in the same. The stocks mentioned forms a part of the portfolio of the scheme and may or may not form a part of the portfolioin future. Please read Scheme Information Document carefully for more details and risk factors.

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The investment objective of the scheme is to provide investment returns closely corresponding tothe total returns of the securities as represented by the S&P BSE Sensex Index before expenses,subject to tracking errors. However, there can be no assurance or guarantee that the investmentobjective of the Scheme will be achieved

– About the Benchmark: S&P BSE Sensex Index

S&P BSE Sensex, first compiled in 1986, was calculated on a “Market Capitalization-Weighted”methodology of 30 component stocks representing large, well-established and financially soundcompanies across key sectors. S&P BSE Sensex today is widely reported in both domestic andinternational markets.

Source: www.bseindia.com

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ITC Limited 6.44%







Banks 31.94%

Software 14.99%



Finance 10.61%

Auto 6.99%


Power 2.37%


Telecom - Services 1.10%



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The investment objective of Reliance ETF Junior BeES is to provide returns that, before expenses,closely correspond to the returns of Securities as represented by Nifty Next 50 Index. However,there can be no assurance or guarantee that the investment objective of the Scheme will beachieved.

– About the Benchmark: Nifty Next 50 Index

The Nifty Next 50 Index represents 50 companies from Nifty 100 after excluding the Nifty 50companies. Nifty Next 50 is computed using free float market capitalization method wherein thelevel of the index reflects total free float market value of all the stocks in the index relative to aparticular base market capitalization value.


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Britannia Industries Limited 5.95%

Godrej Consumer Products Limited 4.24%

Dabur India Limited 3.96%

Aurobindo Pharma Limited 3.50%

Lupin Limited 3.32%

Shree Cement Limited 3.02%

Marico Limited 2.99%

Piramal Enterprises Limited 2.82%

Havells India Limited 2.82%

Bosch Limited 2.73%



Finance 15.11%


Auto Ancillaries 7.43%

Cement 7.36%

Industrial Capital Goods 5.13%

Transportation 4.07%

Consumer Durables 2.82%

Chemicals 2.70%

Gas 2.70%


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The investment objective of the scheme is to provide investment returns that, before expenses,closely correspond to the total returns of the securities as represented by the Nifty100 Index,subject to tracking errors. However, there can be no assurance or guarantee that the investmentobjective of the Scheme will be achieved.

– About the Benchmark: Nifty 100 Index

Nifty 100 index tracks the behavior of combined portfolio of two indices viz. Nifty 50 and NiftyNext 50. It is a diversified 100 stock index.


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ITC Limited 4.80%







Banks 24.42%

Software 13.03%


Finance 10.69%


Auto 5.94%



Cement 2.24%

Power 1.93%


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The investment objective of the scheme is to provide investment returns closely correspondingto the total returns of the securities as represented by the Nifty Midcap 150 Index beforeexpenses, subject to tracking errors. However, there can be no assurance or guarantee that theinvestment objective of the Scheme will be achieved.

– About the Benchmark: Nifty Midcap 150 Index

Nifty Midcap 150 index represents the next 150 companies (companies ranked 101-250) basedon full market capitalisation from NIFTY 500. This index intends to measure the performance ofmid market capitalisation companies.


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The investment objective of the scheme is to provide returns that, before expenses, closelycorrespond to the total returns of the securities as represented by the Nifty Bank Index.However, there can be no assurance or guarantee that the investment objective of the schemewill be achieved.

– About the Benchmark: Nifty Bank Index

Nifty Bank Index which is a free float market capitalization weighted index, comprises of 12 most liquid and large capitalised Indian Banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks.


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Note: The stocks mentioned forms a part of the portfolio of the scheme and may or may not form a part of the portfolio in future. Please read Scheme InformationDocument carefully for more details and risk factors.







State Bank of India 8.68%

IndusInd Bank Limited 6.07%

Yes Bank Limited 2.83%

RBL Bank Limited 1.85%

The Federal Bank Limited 1.34%

Bank of Baroda 0.84%

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The investment objective of Reliance ETF PSU Bank BeES is to provide returns that, beforeexpenses, closely correspond to the total returns of the Securities as represented by the Nifty PSUBank Index. However, there can be no assurance or guarantee that the investment objective ofthe Scheme will be achieved.

– About the Benchmark: Nifty PSU Bank Index

The Nifty PSU Bank Index captures the performance of the PSU Banks. The Index comprises of 12companies listed on National Stock Exchange (NSE). Nifty PSU Bank Index is computed using freefloat market capitalization method, wherein the level of the index reflects the total free floatmarket value of all the stocks in the index relative to particular base market capitalization value.


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Note: The stocks mentioned forms a part of the portfolio of the scheme and may or may not form a part of the portfolio in future. Please read Scheme InformationDocument carefully for more details and risk factors.



State Bank of India 74.13%

Bank of Baroda 7.21%

Punjab National Bank 5.42%

Canara Bank 3.34%

Union Bank of India 2.15%

Bank of India 2.05%

Indian Bank 1.31%

IDBI Bank Limited 1.03%

Syndicate Bank 0.95%

Oriental Bank of Commerce 0.94%

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The investment objective of the Scheme is to provide returns that, before expenses, closely correspond to thetotal returns of the Securities as represented by the Nifty CPSE Index, by investing in the Securities which areconstituents of the Nifty CPSE Index in the same proportion as in the Index.

However the performance of the Scheme may differ from that of underlying index due to tracking error. Therecan be no assurance or guarantee that the investment objective of the Scheme would be achieved.

– About the Benchmark: Nifty CPSE Index

Nifty CPSE Index is constructed in order to facilitate Government of India’s initiative to disinvest some of its stakein selected CPSEs. The government opted for ETF route for disinvestment. The ETF shall track the performance ofthe Nifty CPSE Index. The index values are to be calculated on free float market capitalization methodology. Theindex has base date of 01-Jan-2009 and base value of 1000.


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Oil & Natural Gas Corporation Limited 20.04%

NTPC Limited 19.73%

Coal India Limited 18.91%

Indian Oil Corporation Limited 18.54%

REC Limited 6.46%

Power Finance Corporation Limited 5.95%

Bharat Electronics Limited 4.32%

Oil India Limited 2.87%

NBCC (India) Limited 1.71%

NLC India Limited 0.77%


Oil 22.91%

Power 21.03%

Minerals/Mining 18.91%


Finance 12.41%


Construction 1.71%


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The investment objective of the scheme is to provide investment returns that, before expenses, closely correspond to the total returns of the securities as represented by the Nifty India Consumption Index, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

– About the Benchmark: Nifty India Consumption Index

The Nifty India Consumption Index is designed to reflect the behavior and performance of a diversifiedportfolio of companies representing the domestic consumption sector which includes sectors likeConsumer Durables & Non-durables, Healthcare, Auto, Telecom Services, Pharmaceuticals, Hotels,Media & Entertainment, etc. The Index comprises of 30 companies listed on the National Stock Exchange(NSE).


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ITC Limited 10.57%

Hindustan Unilever Limited 10.31%

Maruti Suzuki India Limited 9.12%

Asian Paints Limited 7.46%

Mahindra & Mahindra Limited 7.43%

Titan Company Limited 4.87%

Bharti Airtel Limited 4.73%

Britannia Industries Limited 4.41%

Bajaj Auto Limited 4.07%

Hero MotoCorp Limited 3.97%



Auto 25.79%



Media & Entertainment 3.09%

Retailing 1.71%

Textile Products 1.58%

Power 1.51%

Healthcare Services 1.43%



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The investment objective of Reliance ETF Infra BeES is to provide returns that, before expenses, closelycorrespond to the total returns of the Securities as represented by the Nifty Infrastructure Index byinvesting in the Securities in the same proportion as in the Index. However, there can be no assurance orguarantee that the investment objective of the Scheme will be achieved.

– About the Benchmark: Nifty Infrastructure Index

Nifty Infrastructure Index includes companies belonging to Telecom, Power, Port, Air, Roads, Railways,shipping and other Utility Services providers. The Index comprises of maximum 25 companies listed onNational Stock Exchange of India (NSE). Nifty Infrastructure Index is computed using free float marketcapitalization method, wherein the level of the index reflects the total free float market value of all thestocks in the index relative to particular base market capitalization value


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NTPC Limited 10.32%

Power Grid Corporation of India Limited 9.49%

Bharti Airtel Limited 8.84%

Adani Ports and Special Economic Zone Limited5.83%

Bharti Infratel Limited 5.44%

Container Corporation of India Limited 3.14%

Tata Power Company Limited 2.82%

Voltas Limited 2.74%

InterGlobe Aviation Limited 2.50%



Power 26.70%



Telecom - Equipment & Accessories 5.44%


Construction 1.14%


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The investment objective of the scheme is to provide returns that, before expenses, closely correspondto the total returns of the Securities as represented by the Nifty50 Shariah Index by investing inSecurities which are constituents of the Nifty50 Shariah Index in the same proportion as in the Index.Investors to note that Reliance ETF Shariah BeES is not a Shariah compliant scheme. However, there canbe no assurance or guarantee that the investment objective of the Scheme will be achieved.

– About the Benchmark: Nifty50 Shariah Index

The Nifty Shariah indices are designed to offer investors Shariah-compliant investment solutions. TheNifty 50 Index is parent index to Nifty50 Shariah Index. This index does not have fixed number ofcompanies. Constituents of parent index which are Shariah compliant are part of Nifty50 Shariah Index.As on January 31, 2019; the index comprise of 17 stocks representing 8 broad sectors of economy.


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Asian Paints Limited 9.02%

HCL Technologies Limited 7.93%

Tech Mahindra Limited 6.51%


Titan Company Limited 5.89%

Tata Steel Limited 5.10%

Hero MotoCorp Limited 4.80%

Indian Oil Corporation Limited 4.71%

Dr. Reddy's Laboratories Limited 4.67%



Software 14.44%



Oil 6.16%


Ferrous Metals 5.10%

Auto 4.80%


Gas 4.24%


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The investment objective of the scheme is to provide investment returns that, before expenses, closelycorrespond to the total returns of the securities as represented by the Nifty Dividend Opportunities 50Index, subject to tracking errors. However, there can be no assurance or guarantee that the investmentobjective of the Scheme will be achieved.

– About the Benchmark: Nifty Dividend Opportunities 50 Index

The Nifty Dividend Opportunities 50 Index is designed to provide exposure to high yielding companieslisted on NSE while meeting stability and tradability requirements. The Nifty Dividend Opportunities 50Index comprises of 50 companies. The methodology employs a yield driven selection criteria that aimsto maximize yield while providing stability and tradability. As on January 31, 2019 the index comprisesof companies from 13 different sectors.


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ITC Limited 9.62%


NTPC Limited 3.83%




Coal India Limited 3.05%


Software 30.12%


Power 8.25%


Auto 5.57%

Finance 5.51%

Oil 3.95%



Gas 2.78%


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The investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty 50 Value 20 Index before expenses, subject to tracking errors. However, there can be no assurance or guarantee that the investment

objective of the Scheme will be achieved

– About the Benchmark: Nifty 50 Value 20 Index

The Nifty 50 Value 20 Index is a diversified portfolio of value companies forming a part of Nifty 50Index. It consists of the most liquid value blue chip companies. The Nifty 50 Value 20 comprises of20 companies listed on the National Stock Exchange (NSE). Value companies are normallyperceived as companies with low PE (Price to Earning), low PB (Price to Book) and high DY(Dividend Yield).


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NTPC Limited 3.37%




Wipro Limited 2.98%


Software 41.94%



Power 6.47%

Auto 4.89%

Oil 3.10%



Banks 2.56%

Ferrous Metals 2.56%


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The investment objective of Reliance ETF Hang Seng BeES is to provide returns that, before expenses, closelycorrespond to the total returns of Securities as represented by Hang Seng Index of Hang Seng Data ServicesLimited, by investing in the Securities in the same proportion as in the index. However, there can be noassurance or guarantee that the investment objective of the Scheme will be achieved

– About the Benchmark: Hang Seng Index

The Hang Seng Index ("HSI") is one of the earliest stock market indexes in Hong Kong. Publicly launched on 24November 1969, the HSI has become the most widely quoted indicator of the performance of the Hong Kongstock market.

To better reflect the price movements of major industry sectors of the market, HSI constituent securities aregrouped into 4 sectors including Finance, Utilities, Properties, and Commerce and Industry Sub-indexes.

Source: www.hsi.com.hk

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Tencent Holdings 10.24%

HSBC HOLDINGS PLC 9.52%

AIA GROUP LTD 9.25%

China Construct BK-H 8.24%

China Mobile 5.49%

Industrial and Commercial Bank of China Ltd 4.86%

Ping An Ins Grp-H 4.60%

HK EX & Clearing Ltd 3.15%

Bank Of China Ltd 3.12%

Cnooc Ltd 2.54%


Diversified Banks 29.07%

Life & Health Insurance 15.41%

Interactive Media & Services 10.24%

Wireless Telecommunication Services 5.49%

Real Estate Development 5.36%

Diversified Real Estate Activities 3.99%

Financial Exchanges & Data 3.15%

Electric Utilities 3.12%

Industrial Conglomerates 3.06%

Integrated Oil & Gas 2.98%

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• Investment ObjectiveThe investment objective of Reliance ETF Gold BeES is to provide returns that, before expenses,closely correspond to the returns provided by Domestic price of Gold through physical gold.There can be no assurance or guarantee that the investment objective of the Scheme will beachieved.

• About the Benchmark: Physical Gold

Domestic Prices of Gold.

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Note: The scheme is currently holding gold investments in certain composition and may or may not have future composition in the same ratio. Please read SchemeInformation Document carefully for more details and risk factors.

*Out of this, 625 KG of gold is invested under Gold Monetization Scheme (GMS) of Banks.


Holding Weightage (%)

GOLD 995 1KG BAR* 99.69%

Cash and Other Receivables 0.31%

Grand Total 100.00%

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The investment objective of the scheme is to provide investment returns closely corresponding tothe total returns of the securities as represented by the NIFTY 8-13 yr G-Sec Index beforeexpenses, subject to tracking errors. However, there can be no assurance or guarantee that theinvestment objective of the Scheme will be achieved.

– About the Benchmark: Nifty 8-13 yr G-Sec Index

The Nifty 8-13 yr G-Sec Index provides broad representation of the Government of India bondshaving maturity of around 10 years. The index aims to capture the performance of the most liquidbonds with maturities between 8-13 years. Top 5 liquid bonds based on turnover during themonth shall be eligible to be part of the index and the outstanding amount of the bond should bemore than Rs.5,000 crores


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Note: The securities mentioned forms a part of the portfolio of the scheme and may or may not form a part of the portfolio in future. Please read Scheme InformationDocument carefully for more details and risk factors.



7.17% GOI (MD 08/01/2028) 49.55%

6.79% GOI (MD 15/05/2027) 14.87%

6.68% GOI (MD 17/09/2031) 11.30%

7.88% GOI (MD 19/03/2030) 10.68%

8.60% GOI (MD 02/06/2028) 10.20%

Sub Total of G Sec Securities 96.60%

Cash and Other Receivables 3.40%

Grand Total 100.00%

Portfolio Characteristics

YTM: 7.49%

Average Maturity: 9.23 yrs

Modified Duration : 6.43 yrs

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The investment objective of Reliance ETF Liquid BeES is to seek to provide current income,commensurate with low risk while providing a high level of liquidity through a portfolio of Tri-Party Repo/Repo & Reverse Repo. The Scheme will provide returns that before expenses, closelycorrespond to the returns of Nifty 1D Rate index.

However, there can be no assurance or guarantee that the investment objective of the Schemewill be achieved.

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Note: The scheme is currently holding investments in cash and cash equivalent products alongwith deposits and may or may not form a part of the portfolio in the same

composition in future. Please read Scheme Information Document carefully for more details and risk factors.



Tri-Party Repo, Cash and Other Receivables 99.09%

Deposits Placed With National Securities Clearing Corporation Ltd 0.91%

Grand Total 100.00%

Portfolio Characteristics

Average Maturity : 1.79 Days

Modified Duration : 0.74 Days

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Note: Data as on January 31, 2019. Tracking error based on 3 year daily data history. NA for funds not completed 3 years

(a) (b) (c) = (a) x (b)

Reliance ETF Nifty BeES 28-Dec-01 979 0.11% 0.04% 5,000 1133.51 5,667,561

Reliance ETF Sensex 24-Sep-14 15 0.07% 0.07% 10,000 382.75 3,827,451

Reliance ETF Junior BeES 21-Feb-03 880 0.23% 0.11% 10,000 273.17 2,731,652

Reliance ETF Nifty 100 22-Mar-13 7 1.04% 0.15% 100,000 112.67 11,267,050

Reliance ETF Nifty Midcap 150 31-Jan-19 14 NA NA 35,000 60.15 2,105,177

Reliance ETF Bank BeES 27-May-04 5043 0.19% 0.04% 1,000 2778.23 2,778,230

Reliance ETF PSU Bank BeES 25-Oct-07 174 0.54% 0.08% 5,000 334.76 1,673,796

CPSE ETF 28-Mar-14 8787 0.01% 0.25% 100,000 23.44 2,344,290

Reliance ETF Consumption 03-Apr-14 12 0.13% 0.12% 60,000 49.78 2,986,512

Reliance ETF Infra BeES 29-Sep-10 11 1.14% 0.12% 5,000 304.87 1,524,355

Reliance ETF Shariah BeES 18-Mar-09 3 1.16% 0.20% 10,000 238.48 2,384,812

Reliance ETF Dividend Opportunities 15-Apr-14 2 0.15% 0.23% 75,000 28.80 2,160,323

Reliance ETF NV20 18-Jun-15 17 0.16% 0.14% 3,000 553.25 1,659,755

Reliance ETF Hang Seng BeES 09-Mar-10 7 1.13% 0.35% 2,500 3114.38 7,785,953

Reliance ETF Gold BeES 08-Mar-07 2415 1.18% 0.19% 1,000 2956.62 2,956,621

Reliance ETF Long Term Gilt 05-Jul-16 3 0.04% NA 250,000 18.17 4,542,800

Reliance ETF Liquid BeES 08-Jul-03 2061 0.65% NA 2,500 1000.00 2,500,000

Reliance ETF Abridged Report - As on January 31, 2019

Scheme NameInception

Date

AUM

(Rs. Crs.)

Expense

Ratio

Tracking

Error

Creation

Unit Size

(Units)

NAV

Commodity ETF

Debt ETFs

Approx.

Basket Value

(Rs.)

Equity ETFs

Broad Market

Sector

Thematic/Strategic/Smart Beta

International

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Risk Factors: Trading volumes and settlement periods may restrict liquidity in equity and debt investments. Investment in Debt is subject to price,credit, and interest rate risk. The NAV of the Scheme may be affected, inter alia, by changes in the market conditions, interest rates, tradingvolumes, settlement periods and transfer procedures. The NAV may also be subjected to risk associated with tracking error, investment inderivatives or script lending as may be permissible by the Scheme Information Document. Past performance may or may not be sustained infuture.

BSE Disclaimer: It is to be distinctly understood that the permission given by BSE Ltd. should not in any ways be deemed or construed that the SIDhas been cleared or approved by BSE Ltd. nor does it certify the correctness or completeness of any of the contents of the SID. The investors areadvised to refer to the SID for the full text of the Disclaimer clause of the BSE Ltd.

NSE Disclaimer: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the SchemeInformation Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of theDraft Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the DisclaimerClause of NSE

Disclaimers• The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot

be considered as guidelines, recommendations or as a professional guide for the readers. Certain factual and statistical information (historical aswell as projected) pertaining to Industry and markets have been obtained from independent third-party sources, which are deemed to be reliable.It may be noted that since RNAM has not independently verified the accuracy or authenticity of such information or data, or for that matter thereasonableness of the assumptions upon which such data and information has been processed or arrived at; RNAM does not in any mannerassures the accuracy or authenticity of such data and information. Some of the statements & assertions contained in these materials may reflectRNAM’s views or opinions, which in turn may have been formed on the basis of such data or information.

• Before making any investments, the readers are advised to seek independent professional advice, verify the contents in order to arrive at aninformed investment decision. None of the Sponsor, the Investment Manager, the Trustee, their respective directors, employees, affiliates orrepresentatives shall be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including onaccount of lost profits arising from the information contained in this material.

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

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