fortis - june factsheet 060710 · the first two months of fy 2010-2011, trade deficit widened to...

Fortis Mutual Fund

FUND FACTSMonthly Portfolio Statement June 2010

FUND MANAGER'SCOMMENTARY

Fund Facts June 2010

Fortis Mutual Fund

2

OVERVIEW- Indian markets bounced back in June from the lows in May,

caused due to sovereign concerns in Europe, to retest the risk rally highs and even end up outperforming most of the global indices. Strong Industrial Production numbers, continuing strength of Auto sales and announcement of deregulation of fuel prices were the key factors that drove up the markets.

- As a major policy reform, the government announced deregulation of petrol prices, making it market linked as against the previous mechanism of administered pricing. The government announced an increase in the prices of petrol, diesel, kerosene, and liquefied petroleum gas (LPG, used for cooking by households) by an average of 7% (Rs 3.5/litre), 5.4% (Rs 2/litre), 33% (Rs 3/litre), and 12.4% (Rs 35/cylinder), respectively. As a result, the under recoveries from sale of these fuel could come down by a significant ~ 31%.

- In May 2010, India's trade deficit widened to USD 11.3 bn, the highest level since November 2008 and significantly higher than an average of ~USD 9 bn in the past 12 months. This is the second consecutive month of widening in the deficit. Lower exports and higher oil imports against the previous month contributed to the higher deficit number, despite relatively lower non-oil imports. In the first two months of FY 2010-2011, trade deficit widened to ~USD 22 bn, much higher than ~USD 14.5 bn in the corresponding period last fiscal year. In 2008, we had a similar level of trade deficit. However, at that time, crude oil price (which was running over USD 100/barrel) was the primary driving factor even though

exports were quite healthy. This time, contribution to higher deficit is more from a drop in exports rather than large oil import bills.

- The Index of Industrial Production (IIP) jumped to 17.6% Y-o-Y in April, growing markedly higher than expectations. The number comes in against a growth of ~13.9% in the previous month and ~1.1% a year ago. While there was growth across sectors, capital goods witnessed outstanding growth. Growth in capital goods came in at ~73% versus -5.9% in April 2009 and ~28% in March 2010. Consumer goods also registered a healthy growth of 14.5%, driven by 37% growth in consumer durables. Manufacturing output growth rose to 19.4% y-o-y in April led by high growth rates in machinery and equipment (55.6% y-o-y in April), metal products (51.9%) and other manufacturing industries (41.4%). In April, 15 of the 17 manufacturing sub-groups registered positive growth. Among other sectors, consumer durables output growth picked up again to 37% y-o-y in April due to higher auto and white goods production, while consumer non-durables remained sluggish. Lower infrastructure output moderated basic goods production.

- WPI inflation for May crossed the psychological mark of 10%, coming at 10.16% compared to 9.59% in April, led by an across-the-board surge in primary, fuel and manufactured product prices. Food inflation moderated to 12.1% y-o-y in May from a peak of 22.6% in December, while non-food manufactured inflation - the RBI's core inflation measure - surged to 6.58% from 0.80% over the same period.

- In June, while most of the global indices witnessed value erosion, Indian markets stood out strong with both the benchmark indices gaining ~4.5%. India managed to show this pattern on back of strong domestic cues primarily driven by manufacturing/industrial production data and government's decision to deregulate fuel prices.

- Among the sectoral indices, all the major sectors ended with positive returns except the BSE Metals Sector (-2.92%). The FMCG and Auto sector gained more than 8% in June while the Capital Goods sector also added 7.7%. The Banking Index (1.02%), IT

Index (2.79%) and Realty Index (3.19%) were the laggards for the month.

- Globally, the economic data are still not showing signs of sustained growth. While the concern over the Europe debt crisis still continues, weak jobs data released in the US also added to the concerns.

- FIIs were buyers in Indian Equity markets in June. They bought Indian Equities worth USD 2.28bn. The FII net flows stand at USD 6.9bn for YTD CY 2010. DIIs net sold Equities worth ~ USD 124 mn in June. The DII net flows now stands at -1.77 bn for YTD CY 2010.

Currency & CommoditiesValue

Brent Crude 75.44 1.06%Gold 1,239.70 1.58%Aluminium (US$/tonne) 1,923.50 -5.53%Copper (US$/tonne) 6,510.00 -6.00%Rs/$ : 46.60, Rs/EURO: 56.94

M-o-M % Change

As on June 30, 2010 Source : RBI, LME, Kitco, Bloomberg

Major Indices MovementIndex

Sensex 17,700.90 4.46%Nifty 5,312.50 4.45%Dow Jones 9,774.02 -3.58%Nikkei 9,382.64 -3.95%FTSE 4,916.90 -5.23%

M-o-M % Change

As on June 30, 2010 Source: BSE India, NSE India, Bloomberg

EQUITIESOVERVIEW

SENSEX Worst 5 Performers of the monthTop Losers (Rs.) % ChangeJindal Steel 624.20 -4.37%Hindalco Industries Ltd. 144.50 -3.73%Tata Steel Ltd. 485.60 -3.00%NTPC Ltd. 199.15 -1.41%ICICI Bank Ltd. 862.00 -0.58%As on June 30, 2010 Source : BSE India

SENSEX Top 5 Performers of the monthTop Gainers (Rs.) % ChangeReliance Communications Limited 198.30 36.90%Maruti Suzuki India Ltd. 1,423.60 15.09%ONGC Ltd. 1,320.40 13.13%Hindustan Unilever Ltd. 266.90 12.73%Reliance Infrastructure Ltd. 1,201.05 12.54%As on June 30, 2010 Source : BSE India

Sectoral IndicesIndex

BSE MID CAP 7,149.21 4.60%BSE SMALL CAP 9,071.20 6.13%BSE FMCG 3,230.23 8.38%BSE AUTO 8,323.30 8.10%BSE CG 14,710.04 7.71%BSE O&G 10,874.13 6.81%BSE TECk 3,278.47 4.62%BSE Realty 3,196.82 3.19%BSE IT 5,319.21 2.79%BSE BANKEX 10,765.03 1.02%BSE METALS 14,704.25 -2.92%

M-o-M % Change

As on June 30, 2010 Source : BSE India

Source: BSE, RBI, CSO, Department of Commerce

Source: BSE, NSE, SEBI

Fund Facts June 2010

Fortis Mutual Fund

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FIXED INCOMEOVERVIEW

MAIN SECTOR STANCE (overweight/underweight)

OUR OUTLOOK

We continue to remain focused on growth investment thesis and maintain overweight stance on Infrastructure, Energy and Capital goods and underweight on Telecom sectors. We have an equal-weight position on Banking and Financial Services as we believe that the sector is well-poised to benefit from the return of private sector participation.

The month of June saw BWA auction close at Rs. 38,400 crore, which together with the 3G auction at Rs. 68,800 crore meant that the total telecom revenues surged to Rs. 1,07,200 crore - a massive Rs. 71,200 crore more than the government's budgeted Rs. 36,000 crore - ameliorating the pressure on its fiscal deficit. This also gives the government some elbow space in planning for its disinvestment targets.

Empowered Group of Ministers (EGoM) announced sweeping changes on fuel prices including a shift to market-driven prices for petrol. While diesel would also be de-regulated over time - a one time price increase was announced for diesel, LPG and (surprisingly) Kerosene as well. This move when viewed in light of the possible impact it could have on an already high inflation underlines government's intention to keep its finances under control.

The strong recovery in IIP and high double-digit inflation has prompted RBI to act before the policy date and hike the repo and reverse repo rate in order to cool-off the demand driven inflation.

At current levels, Sensex is trading ~16.5x FY11 earning estimates which have softened over last 9 months as the markets have "time-corrected". Post such structurally positive announcement by the government along with reducing pressure on its balance sheet, we would not consider the markets to be expensive any longer. July would see corporate India declare its profits for the June quarter and any upgrades to earning estimates post that could result in markets rallying.

As a part of the calibrated exit from the expansionary monetary policy, the Reserve Bank of India (RBI) raised the repo and reverse repo by 25bps each. Repo rate has been increased from 5.25% to 5.50% and reverse repo rate from 3.75% to 4%. According to RBI, the inter-meeting hike in policy rates has been warranted by consolidation of ongoing domestic economic recovery and at the same time firming up of inflation, in particular non-food inflation. RBI notes that two-thirds of WPI inflation in May 2010 was contributed by non-food items, a clear indication that inflation is now generalized and reflects demand-side pressures.

The benchmark 10-year G-sec yield traded in a very narrow range in June. While there were expectations on lower borrowing on back of 3G spectrum collection, any improvement has been kept in check by an increase in fuel prices, higher inflation number and below normal monsoon so far. The yield on the 7.80 GS 2020 ended the month at 7.55% as against 7.56% on May month-end.

Liquidity remained tight in the system primarily due to significant outflows from Banks to telecom companies for 3G spectrum, BWA payment and corporate advance tax payments. This kept the rates high on shorter-term. The 1-year Bank CDs which were trading in the range of 6-6.25% in April ended the month of June in the range of 6.60-6.80%.

The overnight call rate hovered in the range of 5.0 - 5.5% during most part of the month.

The May WPI Inflation number was significantly higher than expectations at 10.16 compared to 9.59% in April. Food inflation moderated to 12.1% y-o-y in May from a peak of 22.6% in December, while non-food manufactured inflation - the RBI's core inflation measure - surged to 6.58% from 0.80% over the same period.

Rupee had a sideways movement against the Dollar. FII inflows helped the Rupee hold its ground against the greenback. It settled the month at 46.6/USD as against 46.45/USD at the end of May 2010.

Source: RBI, CCIL

The outlook for the European economy remains uncertain. At the same time, the recovery in US is also expected to be slower. The data coming out from China also suggests moderation in the growth. In view of this global backdrop and tight liquidity situation along with high domestic inflation, we expect the government bond yields to remain range bound in weeks to come. The market is expected to take fresh cues from the forthcoming monetary policy review.

OUR OUTLOOK

Equity Holdings % of Net Market Value Assets (in Rs. Lacs)

Auto 7.49 567.97 Mahindra & Mahindra Ltd. 169.38 Tata Motors Ltd. 151.81 Maruti Suzuki India Ltd. 123.87 Hero Honda Motors Ltd. 122.91

Banks 17.56 1,332.60 ICICI Bank Ltd. 542.87 HDFC Bank Ltd. 402.99 State Bank of India 386.74

Cement 1.86 141.39 Jaiprakash Associates Ltd. 88.70 ACC Ltd 52.69

Construction 0.91 69.28 DLF Limited 69.28

Construction Project 7.15 542.69 Larsen & Toubro Ltd. 542.69

Consumer Non Durables 4.83 366.54 ITC Ltd. 366.54

Diversified 2.33 176.58 Hindustan UniLever Ltd. 176.58

Ferrous Metals 4.38 332.00 Tata Steel Ltd. 182.12Jindal Steel & Power Ltd. 149.88

Finance 5.70 432.80 Housing Development Finance Cor. Ltd. 432.80

Industrial Capital Goods 3.40 258.27 Bharat Heavy Electricals Ltd. 258.27

Non - Ferrous Metals 3.50 265.88 Sterlite Industries Ltd. 148.83

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Who Should Invest ?Investors seeking returns from an actively managed diversified equity portfolio.

Portfolio 4 ( Top 10 Holdings)

*The information contained in this report has been obtained from sources considered to be authentic and reliable. This quantitative data does not purport to be an offer for purchase and sale of mutual fund units. The Standard Deviation is used to measure the volatility of returns. Sharpe Ratio is the measure of the risk - adjusted performance. Beta is the measure of the portfolio's volatility to its respective benchmark. The risk free rate of return considered for calculation of Sharpe ratio is 5.65%, as per 3 years average 91 day T Bill cut-off rate.

Record Dividend Cum-Dividend Ex-Dividend Ex-DividendDate Per Unit (Rs.) NAV (Rs.) NAV (Rs.) Date

Individual Others15-Apr-2005 1.75 1.75 13.02 11.21 18-Apr-200520-Mar-2006 2.50 2.50 20.46 17.88 21-Mar-200617-Jan-2007 6.00 6.00 20.94 15.46 18-Jan-200718-Dec-2007 6.00 6.00 23.17 17.17 19-Dec-20079-Sep-2009 1.00 1.00 11.86 10.86 10-Sep-200920-Jan-2010 1.00 1.00 11.66 10.66 21-Jan-2010

Pursuant to payment of dividend, the NAV of the scheme has fallen to the extent of dividend distribution and statutory levy (if any).

Dividend History

Fortis Equity Fund(An Open-Ended Equity Scheme)

As on June 30, 2010

4

FUND FACTSInvestment ObjectiveThe investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities. The Scheme will invest in a range of companies, with a bias towards large & medium market capi ta l isat ion companies. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

Date of AllotmentSeptember 23, 2004

Fund Manager(Since October 1, 2007)Mr. Amit Nigam(Total Experience: 11 years)

NAV DetailsGrowth Option : Rs. 31.80Dividend Option : Rs. 10.76

Benchmark IndexS & P CNX Nifty

Load Structure$Entry Load: Nil

Exit Load: 1% if redeemed or switched-out within 1 year from the date of subscription/switch-in.Nil if redeemed or switched-out after 1 year from the date of subscription/ switch-in

Expense Ratio &Quantitative DataRecurring ExpensesRatio (%) : 2.50Standard Deviation* : 0.33Beta* : 0.90Sharpe Ratio*(36 Months) : -0.14Portfolio TurnoverRatio : 1.97

Since Last LastInception 5 years 3 years 1 year

(% (% (% (%CAGR) CAGR) CAGR) CAGR)

Fortis EquityFund -Growth Option 22.19 17.87 1.10 20.27

S & P CNX Nifty 21.50 19.05 7.14 23.80

Last

Period: September 23, 2004 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.

Performance

Fixed Income Holdings % of Net Market Value RatingAssets (in Rs. Lacs)

Money Market Instruments 0.58 43.99CBLO/Repo Instruments 43.99Total Fixed Income Holdings 0.58 43.99Net Receivables / (Payables) -0.02 (1.87)GRAND TOTAL 100.00 7,587.51

Investment in Top 10 scrips constitutes 63.38% of the portfolio

Hindalco Industries Ltd. 117.05

Oil 4.44 336.80 Oil & Natural Gas Corporation Ltd. 336.80

Petroleum Products 10.34 784.69 Reliance Industries Ltd. 784.69

Pharmaceuticals 1.34 101.55 Cipla Ltd. 101.55

Power 5.51 418.05 NTPC Ltd. 192.21 Tata Power Co. Ltd. 117.75 Reliance Infrastructure Limited 108.09

Software 14.87 1,128.02 Infosys Technologies Ltd. 753.57 Tata Consultancy Services Ltd. 259.10 Wipro Ltd. 115.35

Telecom - Services 3.83 290.28 Bharti Airtel Ltd. 201.04 Reliance Communications Ltd. 89.24

Total Equity Holdings 99.44 7,545.39

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Asset Allocation (%)

0.91%

1.34%

1.86%

2.33%

3.40%

3.50%

3.83%

4.38%

4.44%

4.83%

5.51%

5.70%

7.15%

7.49%

10.34%

14.87%

17.56%

0.00% 5.00% 10.00% 20.00%

Construction

Pharmaceuticals

Cement

Diversified

Industrial Capital Goods

Non - Ferrous Metals

Telecom - Services

Ferrous Metals

Oil

Consumer Non Durables

Power

Finance

Construction Project

Auto

Petroleum Products

Software

Banks

15.00%


Money Market Instruments 0.88 53.99 CBLO/Repo Instruments 53.99 Total Fixed Income Holdings 0.88 53.99Net Receivables / (Payables) 0.24 15.05GRAND TOTAL 100.00 6,164.17


FUND FACTSInvestment Objective

The investment objective is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities. The Scheme will aim to identify attractive investment opportunities in companies across al l ranges of market-capitalization viz. large, medium and small-capitalization and across all sizes in terms of turnover, balance sheet size etc. The Scheme has the flexibility to actively shift portfolio concentration between different market capitalization buckets.

The Scheme also retains the flexibility to hold from time to time relatively more concentrated investments in a few sectors than plain diversified equity funds. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

Date of AllotmentApril 15, 2005

Fund Manager(w.e.f. October 1, 2009)Mr. Amit Nigam(Total Experience: 11 years)


Benchmark IndexBSE 200




* The information contained in this report has been obtained from sources considered to be authentic and reliable. This quantitative data does not purport to be an offer for purchase and sale of mutual fund units. The Standard Deviation is used to measure the volatility of returns. Sharpe Ratio is the measure of the risk - adjusted performance. Beta is the measure of the portfolio's volatility to its respective benchmark. The risk free rate of return considered for calculation of Sharpe ratio is 5.60%, as per 3 years average 91 day T Bill cut-off rate.

Fortis (An Open-Ended Equity Scheme)

Opportunities Fund

Who Should Invest ?


Individual Others

20-Mar-2007 2.5 2.5 17.899 15.287 21-Mar-200715-Sep-2007 4.5 4.5 22.121 17.953 15-Sep-200725-Mar-2008 4 4 16.409 12.409 26-Mar-2008


Dividend History

Investors seeking to take advantage of investment opportunities across sectors & market capitalisations buckets and those who want to invest in a fund that can hold relatively more concentrated investments in a few sectors compared to a plain diverisifed equity fund.

As on June 30, 2010

5

Period: April 15, 2005 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.

Performance


Auto 3.55 219.02 Bajaj Auto Limited 134.33 Mahindra & Mahindra Ltd. 84.69 Auto Ancillaries 1.06 65.48 Motherson Sumi Systems Ltd. 65.48 Banks 11.64 717.35 ICICI Bank Ltd. 201.64 HDFC Bank Ltd. 172.71 Bank of Baroda 105.28 Union Bank of India 93.32 Axis Bank Limited 93.18 Standard Chartered Plc 51.22 Cement 2.76 169.99 Jaiprakash Associates Ltd. 115.70 Birla Corporation Ltd. 54.29 Construction 7.13 439.78 DLF Limited 129.89 ITD Cementation India Ltd. 107.48 Indiabulls Real Estate Limited 105.28 Sadbhav Engineering Ltd. 88.20 Sadbhav Engineering Ltd. (Warrant) 8.83 Sadbhav Engineering Ltd. 0.10 Construction Project 6.26 385.91 Larsen & Toubro Ltd. 325.61 Lanco Infratech Limited 60.30 Consumer Non Durables 1.49 91.64 ITC Ltd. 91.64 Ferrous Metals 4.66 287.24 Tata Steel Ltd. 174.83 Jindal Steel & Power Ltd. 112.41 Finance 10.65 656.67 Housing Development Finance Cor. Ltd. 238.48 Reliance Capital Ltd. 183.06 Rural Electrification Corp. Ltd. 91.37 Infrastructure Development Finance Company Ltd. 80.64Bajaj Holdings and Investment Ltd. 63.12 Gas 4.01 246.90 Indraprastha Gas Limited 154.83 Gujarat State Petronet Ltd. 92.07 Industrial Capital Goods 1.13 69.49 Bharat Bijlee Limited 69.49 Industrial Products 2.74 168.63 Sintex Industries Ltd. 96.96

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Greaves Cotton Ltd. 71.67 Media & Entertainment 2.97 183.29 Dish TV India Limited 183.29 Minerals/Mining 0.86 52.90 Sesa Goa Ltd. 52.90 Non - Ferrous Metals 3.14 193.39 Sterlite Industries Ltd. 71.36 National Aluminium Co. Ltd. 63.86 Hindustan Zinc Ltd. 58.17 Petroleum Products 7.44 458.51 Reliance Industries Ltd. 163.48 Indian Oil Corporation Ltd. 120.93Bharat Petroleum Corporation Ltd. 89.47Essar Oil Ltd. 84.63 Pharmaceuticals 6.22 383.62 Lupin Ltd. 159.40 Divis Laboratories Ltd. 139.22 Glenmark Pharmaceuticals Ltd. 85.00 Power 4.90 301.84 Reliance Infrastructure Limited 180.15 Neyveli Lignite Corporation Ltd. 70.27 Reliance Power Limited 51.42 Software 13.89 856.15 Infosys Technologies Ltd. 251.19 NIIT Ltd. 181.59 HCL Technologies Ltd. 163.87 Oracle Financial Serv. Software Ltd. 101.76 Tata Consultancy Services Ltd. 90.12 Rolta India Ltd. 67.62 Telecom - Services 0.97 59.49 Reliance Communications Ltd. 59.49 Transportation 1.43 87.84 G. E. Shipping 87.84 Total Equity Holdings 98.88 6,095.13

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Since Last LastInception 5 years 3 years 1 year

(% (% (% (%CAGR) CAGR) CAGR) CAGR)

Fortis OpportunitiesFund - Growth Option 12.71 12.59 -8.78 24.00

BSE 200 20.74 19.47 7.58 27.22

Last


0.86%0.97%1.06%1.13%1.43%1.49%

2.74%2.76%2.97%3.14%3.55%

4.01%4.66%4.90%

6.22%6.26%

7.13%7.44%

10.65%11.64%

13.89%

0.00% 4.00% 8.00% 12.00% 16.00%

Minerals/MiningTelecom - Services

Auto AncillariesIndustrial Capital Goods

TransportationConsumer Non Durables

Industrial ProductsCement

Media & EntertainmentNon - Ferrous Metals

AutoGas

Ferrous MetalsPower

PharmaceuticalsConstruction Project

ConstructionPetroleum Products

FinanceBanks

Software


Money Market Instruments 1.23 14.00CBLO/Repo Instruments 14.00Total Fixed Income Holdings 1.23 14.00Net Receivables / (Payables) -0.09 (1.01)GRAND TOTAL 100.00 1,134.11


Who Should Invest ?


FUND FACTSInvestment ObjectiveTo generate long term capital growth from an actively managed portfolio of equity and equity related securities, primarily being high dividend yield stocks. High dividend yield stocks are defined as stocks of companies that have a dividend yield in excess of 0.5 %, at the time of investment. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.


Fund Manager(Since February 8, 2008)Mr. Amit Nigam(Total Experience: 11 years)


Benchmark IndexBSE Sensitive Index



Expense Ratio &Quantitative DataRecurring ExpensesRatio (%) : 2.50Standard Deviation* : 0.31Beta* : 0.81Sharpe Ratio*(36 Months) : 0.27Portfolio TurnoverRatio : 2.00


Dividend Yield Fund

Investors seeking to exploit opportunities from the equity markets while combining it with a regular income stream from a portfolio of high dividend yield stocks.

As on June 30, 2010

6

Since Last LastInception 3 years 1 year(% CAGR) (% CAGR) (% CAGR)

Fortis Dividend Yield Fund - Growth Option 11.69 14.12 52.86

BSE Sensex 17.16 6.50 22.13

Period: September 15, 2005 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.

Performance


Individual Others

29-Jun-2007 1.00 1.00 11.432 10.433 30-Jun-2007

10-Aug-2009 1.00 1.00 11.170 10.170 11-Aug-2009

27-Oct-2009 1.00 1.00 11.757 10.757 28-Oct-2009

20-Jan-2010 1.00 1.00 11.883 10.883 21-Jan-2010


Dividend History


Auto 1.63 18.44 Hero Honda Motors Ltd. 18.44

Banks 18.65 211.56 Punjab National Bank 31.47 Indian Bank 30.50 Oriental Bank of Commerce 29.36 Jammu & Kashmir Bank Limited 24.98 Corporation Bank 23.64 ICICI Bank Ltd. 23.27 State Bank of India 20.72 Union Bank of India 18.66 Standard Chartered Plc 8.96

Consumer Non Durables 11.58 131.36 E.I.D. Parry (India) Ltd. 38.58 ITC Ltd. 36.65 Navneet Publications (India) Ltd. 29.55 VST Industries Limited 26.58

Ferrous Metals 4.26 48.28 Tata Steel Ltd. 36.42 PSL Ltd. 11.86

Fertilisers 1.85 20.93 Deepak Fertilisers & Petrochemicals Corp. Ltd. 20.93

Finance 6.53 74.06 Bajaj Holdings and Investment Ltd. 42.08 Rural Electrification Corp. Ltd. 31.98

Gas 6.10 69.16 GAIL (India) Ltd. 42.06 Indraprastha Gas Limited 27.10

Industrial Capital Goods 7.02 79.60 Emco Ltd. 29.93 Action Construction Equipment Ltd. 29.52 Alstom Projects India Ltd. 20.15

Industrial Products 1.24 14.04 Cummins India Ltd. 14.04

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Minerals/Mining 1.66 18.84 Nava Bharat Ventures Limited 18.84 Oil 3.14 35.66 Oil & Natural Gas Corporation Ltd. 35.66 Paper 2.49 28.22 Ballarpur Industries Ltd. 28.22 Petroleum Products 18.57 210.63 Chennai Petroleum Corporation Ltd. 45.43 Indian Oil Corporation Ltd. 42.33 Hindustan Petroleum Corp. Ltd. 42.26 Castrol India Limited 40.84 Bharat Petroleum Corporation Ltd. 39.77 Pharmaceuticals 3.26 37.02 Wyeth Ltd. 37.02 Power 5.32 60.32 Gujarat Inds Power Co. Ltd. 45.26 PTC India Limited 15.06 Software 3.74 42.36 HCL Technologies Ltd. 21.85 NIIT Technologies Ltd. 20.51 Telecom - Equipment & Accessories 1.82 20.64 HCL Infosystem Ltd. 20.64 Total Equity Holdings 98.85 1,121.12

33333

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1.24%

1.63%

1.66%

1.82%

1.85%

2.49%

3.14%

3.26%

3.74%

4.26%

5.32%

6.10%

6.53%

7.02%

11.58%

18.57%

18.65%

0.00% 5.00% 10.00% 15.00% 20.00%

Industrial Products

Auto

Minerals/Mining

Telecom - Equipment & Accessories

Fertilisers

Paper

Oil

Pharmaceuticals

Software

Ferrous Metals

Power

Gas

Finance



Petroleum Products

Banks


Money Market Instruments 1.06 66.99 CBLO/Repo Instruments 66.99 Total Fixed Income Holdings 1.06 66.99Net Receivables / (Payables) 0.33 20.69GRAND TOTAL 100.00 6,327.81



Auto 6.42 406.03

Bajaj Auto Limited 134.33 Mahindra & Mahindra Ltd. 84.69 Auto Ancillaries 2.15 135.80 Exide Industries Ltd. 79.05 Motherson Sumi Systems Ltd. 56.75 Banks 12.87 814.55 ICICI Bank Ltd. 175.79 HDFC Bank Ltd. 172.71 Oriental Bank of Commerce 146.81 Bank of Baroda 105.28 Union Bank of India 93.32 State Bank of India 69.06 Standard Chartered Plc 51.58 Cement 1.22 77.13 Jaiprakash Associates Ltd. 77.13 Construction 3.06 193.88 Sadbhav Engineering Ltd. 92.03 DLF Limited 73.61 Indiabulls Real Estate Limited 18.92 Sadbhav Engineering Ltd. (Warrant) 9.22 Sadbhav Engineering Ltd. 0.10 Construction Project 6.10 385.91 Larsen & Toubro Ltd. 325.61 Lanco Infratech Limited 60.30 Consumer Non Durables 2.03 128.29 ITC Ltd. 128.29 Ferrous Metals 3.22 203.78 Tata Steel Ltd. 116.56 Jindal Steel & Power Ltd. 87.22 Finance 6.29 398.01 Housing Development Finance Cor. Ltd. 220.82 Rural Electrification Corp. Ltd. 77.66 Infrastructure Development Finance Company Ltd. 53.76 Reliance Capital Ltd. 45.77 Gas 4.44 281.00 Indraprastha Gas Limited 154.83 GAIL (India) Ltd. 126.17 Industrial Capital Goods 6.87 434.93 Sterlite Technologies Ltd 122.33 Alstom Projects India Ltd. 100.73 Bharat Heavy Electricals Ltd. 73.79 Bharat Bijlee Limited 69.49 Emco Ltd. 68.59 Media & Entertainment 1.91 120.87 Dish TV India Limited 120.87

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Maruti Suzuki India Ltd. 187.01



Minerals/Mining 1.43 90.26 Sesa Goa Ltd. 90.26 Non - Ferrous Metals 2.45 154.84 Sterlite Industries Ltd. 122.33 Hindalco Industries Ltd. 32.51 Oil 2.19 138.68 Oil & Natural Gas Corporation Ltd. 138.68 Petroleum Products 10.99 695.19 Castrol India Limited 185.58 Bharat Petroleum Corporation Ltd. 169.00 Indian Oil Corporation Ltd. 151.16 Reliance Industries Ltd. 147.13 Essar Oil Ltd. 42.32 Pharmaceuticals 4.65 294.26 Lupin Ltd. 147.59 Glenmark Pharmaceuticals Ltd. 77.06 Divis Laboratories Ltd. 69.61 Power 4.37 276.48 Reliance Infrastructure Limited 144.12 NTPC Ltd. 53.89 Reliance Power Limited 47.67 PTC India Limited 30.80 Software 13.51 855.17 Infosys Technologies Ltd. 301.43 Mphasis Limited 169.05 NIIT Ltd. 126.69 Tata Consultancy Services Ltd. 101.39 HCL Technologies Ltd. 87.40 Wipro Ltd. 69.21 Telecom - Services 0.47 29.75 Reliance Communications Ltd. 29.75 Transportation 1.98 125.32 Mundra Port & Special Eco Zone Ltd. 66.47 G. E. Shipping 58.85


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FUND FACTSInvestment ObjectiveThe investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent from time to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

Date of AllotmentJanuary 5, 2006

Fund Manager(Since September 1, 2006)Mr. Amit Nigam(Total Experience: 11 years)



Load Structure$Entry Load : Nil

There is no Exit Load or CDSC**. * No entry load is payable for switch-in from other equity schemes of Fortis Mutual Fund. ** The investment in the Scheme shall be locked in for a period of 3 years from the date of allotment. No entry/ exit load will be charged on Bonus units/ Dividend Re-investment units.

Expense Ratio &Quantitative DataRecurring Expenses Ratio (%) : 2.50

~Standard Deviation : 0.35Beta* : 0.90Sharpe Ratio(36 Months) : -0.22Portfolio TurnoverRatio : 0.60

As on June 30, 2010

7

Fortis (An Open-Ended Equity Linked Tax Savings Scheme# with no assured returns)

Tax Advantage Plan (ELSS)

Who Should Invest ?Investors seeking the potential growth of equities along with the added advantage of tax savings# under Section 80C.

#As per the Finance Act, 2005, read with notifications dated 3rd November, 2005 and 13th December, 2005 issued by Ministry of Finance, subscription to the extent of Rs.100,000 in Fortis Tax Advantage Plan (ELSS) by Individuals and HUFs should be eligible for deduction under section 80C of the Income Tax Act, 1961. Investors are requested to consult their tax advisor in this regard. The investments in the scheme shall be locked-in for a period of 3 years from the date of allotment.*** The information contained in this report has been obtained from sources considered to be authentic and reliable. This quantitative data does not purport to be an offer for purchase and sale of mutual fund units. **The Standard Deviation is used to measure the volatility of returns. *Sharpe Ratio is the measure of the risk - adjusted performance. Beta is the measure of the portfolio's volatility to its respective benchmark. The risk free rate of return considered for calculation of Sharpe ratio is 5.60%, as per 3 years average 91 day T Bill cut-off rate.


Individual Others

23-Mar-2007 1.00 1.00 12.22 11.219 24-Mar-2007

29-Feb-2008 2.00 2.00 15.067 13.125 1-Mar-2008Pursuant to payment of dividend, the NAV of the scheme has fallen to the extent of dividend distribution and statutory levy (if any).

Dividend History


Fortis Tax Advantage Plan (ELSS) -Growth Option 7.03 -2.09 31.51

BSE 200 14.61 7.58 27.22

Period: January 5, 2006 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.

Performance Asset Allocation (%)

0.47%1.22%1.43%

1.91%1.98%2.03%2.15%2.19%2.45%

3.06%3.22%

4.37%4.44%

4.65%6.10%6.29%6.42%

6.87%10.99%

12.87%13.51%

0.00% 4.00% 8.00% 12.00% 16.00%

Telecom - ServicesCement

Minerals/MiningMedia & Entertainment

TransportationConsumer Non Durables

Auto AncillariesOil

Non - Ferrous MetalsConstruction

Ferrous MetalsPower

GasPharmaceuticals

Construction ProjectFinance

AutoIndustrial Capital Goods

Petroleum ProductsBanks

Software

Who Should Invest ?

No dividend has been declared under the scheme since its inception.* The information contained in this report has been obtained from sources considered to be authentic and reliable. This quantitative data does not purport to be an offer for purchase and sale of mutual fund units. The Standard Deviation is used to measure the volatility of returns. Sharpe Ratio is the measure of the risk - adjusted performance. Beta is the measure of the portfolio's volatility to its respective benchmark. The risk free rate of return considered for calculation of Sharpe ratio is 5.60%, as per 3 years average 91 day T Bill cut-off rate.

FUND FACTSInvestment ObjectiveInvestment objective of the scheme is to seek to generate long-term capital appreciation by investing primarily in compan ies w i th h igh g rowth opportunities in the middle and small capitalization segment, defined as 'Future Leaders'. The fund will emphasize on companies that appear to offer opportunities for long-term growth and will be inclined towards companies that are driven by dynamic style of management and entrepren-eurial flair. However, there can be no assurance that the investment objectives of the Scheme and Plan launched there under will be realized. The Scheme/ Plans launched there under does not guarantee/indicate any returns.

Date of AllotmentMay 2, 2006

Fund Manager(w.e.f. October 1, 2009)Mr. Amit Nigam(Total Experience: 11 years)


Benchmark IndexCNX MIDCAP Index





Future Leaders Fund

As on June 30, 2010

8

Investors seeking to take advantage of investment opportunities in the middle and small capitalization segment.


Performance

Period: May 2, 2006 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.


Fortis Future Leaders Fund - Growth Option -1.85 -6.72 54.20

CNX MIDCAP Index 11.37 10.79 49.82


Auto Ancillaries 3.47 148.48 Exide Industries Ltd. 79.05 Motherson Sumi Systems Ltd. 43.65 Balkrishna Industries Limited 25.78

Banks 14.83 634.29 Oriental Bank of Commerce 146.81 Indian Bank 122.01 South Indian Bank Ltd. 99.57 Federal Bank Ltd. 95.18 Union Bank of India 93.32 Indusind Bank Limited 43.10 Standard Chartered Plc (IDR) 34.30

Cement 1.82 78.00 Birla Corporation Ltd. 43.43 Century Textiles & Industries Ltd. 34.57

Construction 3.83 163.68 Indiabulls Real Estate Limited 94.59 ITD Cementation India Ltd. 69.09

Construction Project 3.10 132.67 Lanco Infratech Limited 80.40 Gammon India Ltd. 52.27

Consumer Durables 0.88 37.68 Havells India Limited 37.68

Consumer Non Durables 4.99 213.32 Titan Industries Ltd. 213.32

Finance 1.97 84.16 Bajaj Holdings and Investment Ltd. 84.16

Gas 5.77 246.90 Indraprastha Gas Limited 154.83 Gujarat State Petronet Ltd. 92.07

Industrial Capital Goods 8.28 354.38 Action Construction Equipment Ltd. 221.40 AIA Engineering Ltd. 59.33 Thermax India Ltd. 45.30 Voltamp Transformers Ltd. 28.35

Industrial Products 4.71 201.52 Cummins India Ltd. 143.34 Sintex Industries Ltd. 58.18

Media & Entertainment 7.56 323.28 Dish TV India Limited 170.64 Entertainment Network India Limited 152.64

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CBLO/Repo Instruments 45.99 Total Fixed Income Holdings 1.08 45.99Net Receivables / (Payables) 0.99 42.14GRAND TOTAL 100.00 4,278.01


Minerals/Mining 1.97 84.30 Sesa Goa Ltd. 52.90 Nava Bharat Ventures Limited 31.40

Pesticides 1.55 66.26 United Phosphorus Ltd. 66.26

Petroleum Products 5.13 219.62 Chennai Petroleum Corporation Ltd. 113.58 Castrol India Limited 106.04

Pharmaceuticals 12.37 529.18 Jubilant Organosys Limited 126.07 Divis Laboratories Ltd. 116.02 IPCA Laboratories Limited 87.57 Lupin Ltd. 78.71 Dishman Pharmaceuticals & Chemicals Ltd. 65.01 Wyeth Ltd. 55.80

Power 6.64 284.09 Gujarat Inds Power Co. Ltd. 141.47 CESC Ltd. 56.39 GVK Power & Infrastructure Ltd. 53.10 PTC India Limited 33.13

Software 8.25 352.93 NIIT Ltd. 155.40 Mphasis Limited 84.53 Infotech Enterprises Ltd. 62.61 Rolta India Ltd. 50.39

Transportation 0.82 35.14 G. E. Shipping 35.14


3

3

3


0.82%

0.88%

1.55%

1.82%

1.97%

1.97%

3.10%

3.47%

3.83%

4.71%

4.99%

5.13%

5.77%

6.64%

7.56%

8.25%

8.28%

12.37%

14.83%

0.00% 4.00% 8.00% 12.00% 16.00%

Transportation

Consumer Durables

Pesticides

Cement

Finance

Minerals/Mining


Auto Ancillaries

Construction

Industrial Products


Petroleum Products

Gas

Power

Media & Entertainment

Software


Pharmaceuticals

Banks

Fortis (An

Sustainable Development FundOpen-Ended Equity Scheme)

FUND FACTSInvestment ObjectiveThe investment objective is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities primarily o f t h e S o c i a l l y R e s p o n s i b l e Companies focusing on Sustainable Development. The Scheme will aim to identify investment opportunities in companies across all ranges of market-capitalization, defined as "Socially Responsible Companies".

Date of AllotmentApril 23, 2007

Fund Manager(w.e.f. October 1, 2009)Mr. Karthikraj Lakshmanan(Total Experience: 4 years)





Expense Ratio &Quantitative DataRecurring ExpensesRatio (%) : 2.50Portfolio TurnoverRatio : 1.18Standard Deviation* : 0.31Beta* : 0.78Sharpe Ratio*(36 Months) : -0.06

As on June 30, 2010

9


Auto 2.30 17.09 Maruti Suzuki India Ltd. 17.09

Auto Ancillaries 1.17 8.70 Exide Industries Ltd. 8.70

Banks 14.39 106.98 ICICI Bank Ltd. 34.47 HDFC Bank Ltd. 23.99 State Bank of India 18.42 Indian Bank 15.82 Federal Bank Ltd. 14.28

Cement 1.04 7.71 Jaiprakash Associates Ltd. 7.71

Construction 3.08 22.88 DLF Limited 14.43 Sadbhav Engineering Ltd. 7.67 Sadbhav Engineering Ltd. (Warrants) 0.77 Sadbhav Engineering Ltd. (RIGHTS) 0.01

Construction Project 4.38 32.56 Larsen & Toubro Ltd. 32.56

Consumer Non Durables 3.70 27.49 ITC Ltd. 27.49

Diversified 2.16 16.05 Hindustan UniLever Ltd. 16.05

Ferrous Metals 3.08 22.89 Jindal Steel & Power Ltd. 15.61 Tata Steel Ltd. 7.28

Finance 4.00 29.71 Housing Development Finance Cor. Ltd. 22.08 Reliance Capital Ltd. 7.63

Gas 2.51 18.69 GAIL (India) Ltd. 18.69

Industrial Capital Goods 6.10 45.31 Alstom Projects India Ltd. 26.86 Bharat Heavy Electricals Ltd. 18.45

Industrial Products 2.61 19.39Sintex Industries Ltd. 19.39

33

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Individual Others

27-Oct-2009 1.00 1.00 11.2794 10.2794 28-Oct-2009


Dividend History

Performance

Period: April 23, 2007 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.


Fortis SustainableDevelopment Fund - Growth Option 6.86 3.63 26.77

BSE 200 10.05 7.58 27.22



Money Market Instruments 2.56 19.00 CBLO/Repo Instruments 19.00 Total Fixed Income Holdings 2.56 19.00Net Receivables / (Payables) 1.75 12.99GRAND TOTAL 100.00 743.38


Non - Ferrous Metals 1.37 10.19 Sterlite Industries Ltd. 10.19

Oil 2.66 19.81 Oil & Natural Gas Corporation Ltd. 19.81

Petroleum Products 10.13 75.33 Reliance Industries Ltd. 39.23 Hindustan Petroleum Corporation Ltd. 23.48 Chennai Petroleum Corporation Ltd. 12.62

Pharmaceuticals 6.74 50.12 Lupin Ltd. 19.68 Wyeth Ltd. 11.52 Cipla Ltd. 10.16 Jubilant Organosys Limited 8.76

Power 6.82 50.72 Tata Power Co. Ltd. 15.70 CESC Ltd. 15.04 NTPC Ltd. 13.97 Reliance Infrastructure Limited 6.01

Software 12.69 94.37 Infosys Technologies Ltd. 50.24 Tata Consultancy Services Ltd. 30.04 Mphasis Limited 14.09

Telecom - Equipment & Accessories 1.46 11.47 HCL Infosystem Ltd. 11.47

Telecom - Services 3.22 23.94 Reliance Communications Ltd. 16.06 Bharti Airtel Ltd. 7.88

Total Equity Holdings 95.70 711.40

33

33


1.04%1.17%

1.37%1.46%

2.16%

2.30%2.51%

2.61%

2.66%3.08%3.08%3.22%

3.70%4.00%

4.38%

6.10%6.74%

6.82%10.13%

12.69%14.39%

0.00% 4.00% 8.00% 12.00% 16.00%

CementAuto Ancillaries


Telecom - Equipment & AccessoriesDiversified

AutoGas

Industrial ProductsOil

ConstructionFerrous Metals

Telecom - ServicesConsumer Non Durables

FinanceConstruction Project

Industrial Capital GoodsPharmaceuticals

PowerPetroleum Products

SoftwareBanks

Who Should Invest ?FUND FACTSInvestment ObjectiveInvestment objective of the scheme is to prov ide long- te rm cap i ta l appreciation by primarily investing in equity and equity related securities of India and China. The fund may also invest a limited proportion in other international equity and equity related securities and also debt and money market instruments. However, there can be no assurance that the investment objectives of the Scheme and Plan launched there under will be realized. The Scheme/ Plans launched there under do not guarantee/indicate any returns.

Date of AllotmentOctober 16, 2007

Fund Manager

(Since May 2, 2008)Mr. Amit Nigam(Total Experience: 11 years)

(Since August 27, 2009)Mr. Chirag Mehta(Total Experience: 5 years)


Benchmark Index65% of BSE 200 + 35% of FTSE China International Index*


China-India Fund

As on June 30, 2010

10

Investors seeking to take advantage of the investment opportunities presented by the fast growing economies of China and India


Foreign Securities (Equity & Equity Related Holdings- China) Assets (in Rs. Lacs)

Airline 0.65 51.96 Air China - H 51.96 Automobiles 0.58 46.33 Denway Motors Ltd. 27.72 Dongfeng Motor Group Co. Ltd. 18.61 Banks 0.75 59.81 Bank of Communications 59.81 Capital Goods 0.13 10.60 China State Construction 10.60 Chemical Manufacturing 0.23 18.57 China Merchants Hldg 18.57 Coal 1.16 93.08 China Shenhua - H 67.13 China Coal Energy - H 25.95 Commercial Bank 2.53 202.62 Bank Of China Limited 148.67

% Of Net Market Value

Foreign Securities (equity & Equity Related Holdings- China) Assets (in Rs. Lacs)

% Of Net Market Value

China Citic Bank Corporation Ltd. 32.73 China Minsheng Banking Corp. 17.84 Bank of Communications 3.38 Communications Equipment 0.08 6.60 Zte Corporation - H 6.60 Communications Services 3.00 240.00 China Mobile 144.56 China Unicom 47.91 China Telecom Corp. - H 47.53 Construction - Raw Materials 0.34 27.31 Anhui Conch - H 27.31 Construction & Engineering 0.28 22.54 China Railway Group 13.22 China Railway Construction Corp. 9.32 Construction Materials 0.28 22.43 China National Building Materia Ltd. 22.43 Construction Services 0.33 26.62 China Comm Const - H 26.62 Electronics & Semiconductors 0.35 27.81 Byd Co H 27.81 Health Care Distributors 0.17 13.71 Sinopharm 13.71 Heavy Electrical Equipment 0.17 13.74 Shanghai Electric Group Co. Ltd. 13.74 Hotel Restaurant & Leisure 0.38 30.67 Wynn Macau 30.67 Household Appliances 0.16 12.47 Techtronic Industries Co. Ltd. 12.47 Independent Power Producers & Energy Traders 0.32 25.42 China Res Power 25.42 Insurance 0.30 24.33 Picc Prop & Casual - H 16.10 China Taiping Ord 8.23 Insurance (life) 3.39 270.81 China Life Ins - H 165.29 Ping An Ins Grp - H 105.52 Investment Services 0.40 32.13 China Everbright 32.13 Marine 0.19 15.08 China Cosco Hldgs - H 15.08 Marine Ports & Services 0.28 22.21 Cosco Pacific 22.21 Metal Mining 0.22 17.95 Aluminium Corp China 17.95 Metals & Mining 0.75 59.98 Zijin Mining Group - H 41.93 Angang New Steel - H 16.82 Maanshan Iron N Steel Co. Ltd. 1.23 Misc. Financial Services 0.35 27.62 China Resources Ent 27.62 Money Center Banks 3.63 290.10 China Construct Bk - H 158.78 Ind & Comm Bk - H 131.32 Multi-line Insurance 0.22 17.46 China Pacific Insurance (group) Co. 17.46 Oil & Gas - Integrated 2.75 220.24 Petrochina Co Ltd - H 142.24 China Petroleum - H 78.00 Oil & Gas Exploration & Production 0.07 5.93 Kunlun Energy Company Ltd. 5.93 Oil & Gas Operations 2.96 236.96 Cnooc Ltd. 236.96 Oil, Gas & Consumable Fuels 0.46 36.40 Yanzhou Coal M - H 36.40 Real Estate Management & Development 1.44 114.87 China Overseas Land & Invest Ltd. 80.46 China Resources Land Ltd. 19.42 Huaneng Power International Inc. 12.17 Longfor Properties 2.82 Real Estate Operations 0.27 21.92 Guangzhou R&f - H 21.92 Regional Banks 0.21 17.00 China Merchants Bank 17.00 Transportation 0.20 16.03 China Shipping Container Lines Ltd. 16.03 Water Transportation 0.19 15.43 China Ship Dev H 15.43 Total Equity Holdings- China 29.98 2,414.74 Total Equity Holdings 98.41 7,886.81Net Receivables / (payables) 1.38 110.05 Grand Total 99.78 7,996.86

3


Equity Holdings INDIA % of Net Market Value Assets (in Rs. Lacs)

Auto 3.87 309.31

Maruti Suzuki India Ltd. 85.43 Auto Ancillaries 2.02 161.19 Bosch Limited 161.19 Banks 8.57 685.46 ICICI Bank Ltd. 219.73 HDFC Bank Ltd. 172.71 State Bank of India 103.59 Federal Bank Ltd. 76.14 Bank of Baroda 63.17 Standard Chartered Plc (IDR) 50.12 Cement 1.78 142.04 Jaiprakash Associates Ltd. 115.70 ACC Ltd 26.34 Construction 1.38 110.51 Indiabulls Real Estate Limited 55.52 ITD Cementation India Ltd. 54.99 Construction Project 3.89 311.04 Larsen & Toubro Ltd. 230.64 Lanco Infratech Limited 80.40 Consumer Non Durables 2.42 193.33 ITC Ltd. 193.33 Ferrous Metals 2.63 210.24 Tata Steel Ltd. 116.56 Jindal Steel & Power Ltd. 93.68 Finance 6.59 527.14 Housing Development Finance Cor Ltd. 220.82 Power Finance Corporation Limited 180.09 Bajaj Holdings and Investment Ltd. 126.23 Gas 2.45 196.27 GAIL (India) Ltd. 196.27 Industrial Capital Goods 1.38 110.69 Bharat Heavy Electricals Ltd. 110.69 Media & Entertainment 1.07 85.32 Dish TV India Limited 85.32 Non - Ferrous Metals 2.84 227.50 Sterlite Industries Ltd. 101.94 Hindustan Zinc Ltd. 87.25 National Aluminium Co. Ltd. 38.31 Oil 2.97 237.74 Oil & Natural Gas Corporation Ltd. 237.74 Petroleum Products 7.14 570.80 Reliance Industries Ltd. 261.56 Indian Oil Corporation Ltd. 175.34 Hindustan Petroleum Corporation Ltd. 70.43 Essar Oil Ltd. 63.47 Pharmaceuticals 2.21 177.11 Lupin Ltd. 177.11 Power 4.08 326.04 NTPC Ltd. 83.83 PTC India Limited 66.26 Reliance Infrastructure Limited 54.05 Reliance Power Limited 51.42 Tata Power Co. Ltd. 39.25 Power Grid Corporation Ltd. 31.23 Software 9.15 731.43 Infosys Technologies Ltd. 334.92 Mphasis Limited 169.05 Tata Consultancy Services Ltd. 135.18 Wipro Ltd. 92.28 Telecom - Services 1.23 98.16 Reliance Communications Ltd. 98.16 Transportation 0.76 60.75 Container Corporation of India Ltd. 60.75

Total Equity Holdings- INDIA 68.43 5,472.07

3

3

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3

3

3

3

3

3

Bajaj Auto Limited 223.88

FUND FACTSLoad Structure

$Entry Load: Nil


Expense Ratio &Quantitative DataRecurring ExpensesRatio (%) : 2.50Portfolio TurnoverRatio : 0.26Standard Deviation* : 0.28Sharpe Ratio*(24 Months) : 0.15

As on June 30, 2010

11

No dividend has been declared under the scheme since its inception.* Above benchmark is converted into Indian currency as per prevailing exchange rate of the last date of the Fact sheet. The benchmark may deviate to the extent of variations in terms of currency fluctuations* The sector classification for Chinese securities have been sourced from Reuters, since AMFI classification provides information on Indian securities only.* The information contained in this report has been obtained from sources considered to be authentic and reliable. This quantitative data does not purport to be an offer for purchase and sale of mutual fund units. The Standard Deviation is used to measure the volatility of returns. Sharpe Ratio is the measure of the risk - adjusted performance. Beta is the measure of the portfolio's volatility to its respective benchmark. The risk free rate of return considered for calculation of Sharpe ratio is 4.96%, as per 2 years average 91 day T Bill cut-off rate.

Fortis China-India Fund(An Open-Ended Equity Scheme)

PerformanceSince Last

Inception 1 year(% CAGR) (% CAGR)

FCIF - Growth Option -5.50 20.16

65% of BSE 200 + 35% of FTSE China International Index -4.60 19.60

Period: October 16, 2007 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception.

0.07%0.08%0.13%

0.16%0.17%0.17%0.19%0.19%0.20%0.21%0.22%0.22%0.23%0.27%0.28%0.28%0.28%0.30%0.32%0.33%0.34%0.35%0.35%0.38%0.40%0.46%0.58%0.65%0.75%0.75%

1.16%1.44%

2.53%2.75%

2.96%3.00%

3.39%3.63%

0.00% 1.00% 2.00% 3.00% 4.00%

Oil & Gas Exploration & ProductionCommunications Equipment

Capital GoodsHousehold Appliances

Health Care DistributorsHeavy Electrical Equipment

MarineWater Transportation

TransportationRegional Banks

Metal MiningMulti-line Insurance

Chemical ManufacturingReal Estate Operations

Construction & EngineeringConstruction Materials

Marine Ports & ServicesInsurance

Independent Power Producers & Energy TradersConstruction Services

Construction - Raw MaterialsElectronics & Semiconductors

Misc. Financial ServicesHotel Restaurant & Leisure

Investment ServicesOil, Gas & Consumable Fuels

AutomobilesAirlineBanks

Metals & MiningCoal

Real Estate Management & DevelopmentCommercial Bank

Oil & Gas - IntegratedOil & Gas Operations

Communications ServicesInsurance (life)

Money Center Banks

Asset Allocation (%)Chinese Equities (% of Net Assets)

Chinese Equitiescomprise 29.98%of the Net Assets

Asset Allocation (%)Indian Equities (% of Net Assets)

Indian Equitiescomprise 68.43%of the Net Assets

0.76%

1.07%

1.23%

1.38%

1.38%

1.78%

2.02%

2.21%

2.42%

2.45%

2.63%

2.84%

2.97%

3.87%

3.89%

4.08%

6.59%

7.14%

8.57%

9.15%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00%

Transportation

Media & Entertainment

Telecom - Services

Construction


Cement

Auto Ancillaries

Pharmaceuticals


Gas

Ferrous Metals


Oil

Auto


Power

Finance

Petroleum Products

Banks

Software

Composition By Assets Credit Quality Profile

FUND FACTSInvestment ObjectiveThe primary objective of the Scheme is to gene ra te i ncome th rough investments in a range of Debt and Money Market Instruments of various maturities with a view to maximise income while maintaining an optimum balance between yield, safety and liquidity. However, there can be no assurance that the investment objective of the Scheme will be achieved.The Scheme / Plan(s) do not guarantee / indicate any returns.


Fund Manager(Since June 16, 2008)Mr. Alok Singh(Total Experience: 9 years)

NAV DetailsRegular PlanGrowth Option : Rs. 16.1719DailyDividend Option : Rs. 10.0933WeeklyDividend Option : Rs. 10.0484MonthlyDividend Option : Rs. 10.1096QuarterlyDividend Option : Rs. 10.2011Half YearlyDividend Option : Rs. 10.2017Regular Plan AGrowth Option : Rs. 11.1234DailyDividend Option : Rs. 10.0933WeeklyDividend Option : Rs. 10.0484MonthlyDividend Option : Rs. 10.1057QuarterlyDividend Option : Rs. 10.2011Half YearlyDividend Option : Rs. 10.2015

Benchmark IndexCRISIL Composite Bond Fund Index

Load StructureRegular Plan & Regular Plan A:

$Entry Load: Nil

Exit Load: Nil

CDSC: 0.75% if redeemed or switched-out within 6 months from the date of subscription/switch-in.Nil if redeemed or switched-out after 6 months from the date of subscription/ switch-in

Expense Ratio &Quantitative DataRecurring ExpensesRatio - Regular Plan -Growth Option (%) : 2.07Recurring ExpensesRatio - Regular Plan A -Growth Option (%) : 2.07Average Maturity : 3.52 yearsModified Duration : 1.16 years

Fortis (An open-Ended income Scheme)

Flexi Debt Fund

As on June 30, 2010

12

Who Should Invest ?Investors seeking to take advantage of volatile debt markets & having an investment horizon of 9 - 12 months.

Since Inception Last 3 years Last 1 year(% CAGR) (% CAGR) (% CAGR) (% CAGR)

Fortis Flexi Debt Fund - Regular Plan - Growth Option 8.68 9.49 11.06 4.96CRISIL Composite Bond Fund Index 5.47 5.63 6.95 4.69

Last 5 years

# First NAV of the plan declared on February 16, 2009. With effect from August 24, 2009, no fresh subscriptions/switch-in shall be permitted under the Scheme, Fortis Flexi Debt Fund - Regular Plan A.Period: September 23, 2004 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable.

Performance

Since Inception(% CAGR) (% CAGR)

Fortis Flexi Debt Fund - Regular Plan A - Growth Option # 8.08 4.92CRISIL Composite Bond Fund Index 5.17 4.69

Last 1 year

Dividend History


Fixed Income Holdings % of Market RatingNet Value (in

Assets Rs. Lacs)

Corporate Debt 50.60 17,732.23 SREI Equipment Finance Pvt. Ltd. 4,758.83 CAREAANational Aviation Co. of India 3,145.26 AAA(SO)Mahindra & Mahindra Fin Ser Ltd. 2,872.83 AA(IND)RHC Holding Pvt. Ltd. 2,000.00 A1+I L & F S Ltd. 1,036.43 CAREAAAI L & F S Ltd. 1,019.05 CAREAAATata Sons Ltd. 1,006.03 AAAETHL Communications 924.66 AAA(IND)Holdings Ltd. (SO)Power Finance Corporation Limited 505.27 AAAG E Money Financial Services Ltd. 358.75 AAARural Electrification Corp. Ltd. 105.12 AAA

3

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3333



Assets Rs. Lacs)

Government Securities 17.41 6,102.007.80% GOI (2020) 6,102.00 SOV

T-Bill 16.86 5,908.71182 Days T-Bill (2010) 5,908.71 SOV

Money Market Instruments 10.41 3,648.95Reliance Securities Ltd.-CP 3,376.69 A1+(SO)Kotak Mahindra Bank Ltd.-CD 147.65 P1+Indiabulls Financial Services Ltd.-CP 29.62 P1+

CBLO/Repo Instruments 94.99

Total Fixed Income Holdings 95.29 33,391.89

Net Receivables / (Payables) 4.71 1,651.11

GRAND TOTAL 100.00 35,043.00

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Individual OthersRegular Plan - Monthly Dividend Option (Last 3 months)

30-Apr-2010 0.0389 0.0363 10.1134 10.0691 1-May-201031-May-2010 0.0408 0.0380 10.1279 10.0815 1-Jun-201030-Jun-2010 0.0430 0.0400 10.1096 10.0607 1-Jul-2010

Regular Plan - A - Monthly Dividend Option (Last 3 months)30-Apr-2010 0.0388 0.0362 10.1134 10.0692 1-May-201031-May-2010 0.0442 0.0412 10.1280 10.0777 1-Jun-201030-Jun-2010 0.0433 0.0404 10.1057 10.0564 1-Jul-2010

Regular Plan - Quarterly Dividend Option (Last 3 quarters)31-Dec-2009 0.0964 0.0897 10.1212 10.0112 1-Jan-201031-Mar-2010 0.0861 0.0801 10.1416 10.0433 1-Apr-201030-Jun-2010 0.1113 0.1037 10.2011 10.0744 1-Jul-2010

Regular Plan - A - Quarterly Dividend Option (Last 3 quarters)31-Dec-2009 0.0964 0.0897 10.1212 10.0112 1-Jan-201031-Mar-2010 0.0861 0.0801 10.1416 10.0433 1-Apr-201030-Jun-2010 0.1113 0.1037 10.2011 10.0744 1-Jul-2010

Regular Plan - Half Yearly Dividend Option (Last 2 years)31-Mar-2009 0.9153 0.8519 11.0449 10.0000 1-Apr-200929-Sep-2009 0.6375 0.5933 10.7278 10.0000 30-Sep-200931-Mar-2010 0.1833 0.1706 10.2531 10.0438 1-Apr-2010

Regular Plan - A - Half Yearly Dividend Option (Last 2 years)31-Mar-2010 0.1641 0.1527 10.2310 10.0437 1-Apr-2010

Money Market Instruments 10.41%

Net Receivables / (Payables) 4.71%

Corporate Debt50.60%

Govt Securities17.41%

Treasury Bills16.86%

Repo Instruments 0.27%

AA & Equivalent 21.78%

Net Receivables / (Payables)

4.71%AAA & Equivalent 38.97%


Corporate Debt 69.97 1,982.94Tata Sons Ltd. 428.33 AAAMahindra & Mahindra Fin. Ser. Ltd. 418.71 AA(IND)Deccan Chronicle Holdings Ltd. 402.64 PR1+SREI Equipment Finance Pvt. Ltd. 393.98 CAREAAG E Money Financial Services Ltd. 153.75 AAARural Electrification Corp. Ltd. 105.12 AAASundaram Finance Limited 80.41 AA+Money Market Instruments 10.73 304.12IDBI Bank Ltd.-CD 173.01 P1+Indiabulls Financial Services Ltd.-CP 69.12 P1+CBLO/Repo Instruments 61.99Total Fixed Income Holdings 80.71 2,287.06Net Receivables / (Payables) 2.93 83.14GRAND TOTAL 100.00 2,833.80

33

3

3

3

3

3

33


Fortis (An open-ended income scheme. Monthly income is not assured & is subject to the availability of distributable surplus)

Monthly Income Plan

FUND FACTSInvestment ObjectiveThe primary objective of the Scheme is to generate regular returns through investment primarily in Debt and Money Market Instruments. The secondary objective of the Scheme is to generate long-term capital appreciation by investing a portion of the Scheme's assets in equity and equity related securities. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.


Fund Manager(Since October 1, 2007)Mr. Alok SinghFund Manager ForFixed Income Portfolio(Total Experience: 9 years)

(w.e.f. October 1, 2009)Mr. Karthikraj LakshmananFund Manager ForEquity Portfolio(Total Experience: 4 years)

NAV DetailsGrowth Option : Rs. 14.4072MonthlyDividend Option : Rs. 10.0996QuarterlyDividend Option : Rs. 10.0996

Benchmark IndexCRISIL MIP Blended Index

Load Structure$Entry Load : Nil

Exit Load : NilCDSC: 1% if redeemed or switched-out within 1 year from the date of subscription/switch-in.Nil if redeemed or switched-out after 1 year from the date of subscription/ switch-in

Expense Ratio &Quantitative DataRecurring ExpensesRatio (%) : 2.25Modified Duration : 0.43 yearsAverage Maturity : 0.91 years

As on June 30, 2010

13

Who Should Invest ?Conservative investors seeking the stability offered by debt & growth potential of equities.



Individual OthersMonthly Dividend Option (Last 3 months)

31-Dec-2009 0.0349 0.0324 10.0493 10.0095 1-Jan-201031-Mar-2010 0.0811 0.0755 10.0926 10.0000 1-Apr-201030-Jun-2010 0.0641 0.0598 10.0996 10.0266 1-Jul-2010

Quarterly Dividend Option (Last 3 quarters)31-Dec-2009 0.1402 0.1305 10.1697 10.0096 1-Jan-201031-Mar-2010 0.0812 0.0756 10.0927 10.0000 1-Apr-201030-Jun-2010 0.0502 0.0467 10.0996 10.0425 1-Jul-2010

Dividend History

Since Inception Last 5 years Last 1 year(% CAGR) (% CAGR) (% CAGR) (% CAGR)

Fortis Monthly Income Plan - Growth Option 6.53 6.04 2.48 2.44

CRISIL MIP Blended Index 8.29 8.21 7.84 7.66

Last 3 years

Period: September 23, 2004 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable.

Performance


Software 2.10 59.40 Infosys Technologies Ltd. 27.91 Mphasis Limited 12.68 Everonn Education Limited 11.30 Tata Consultancy Services Ltd. 7.51 Telecom - Equipment & Accessories 0.40 11.47 HCL Infosystem Ltd. 11.47 Telecom - Services 0.79 22.41 Reliance Communications Ltd. 11.90 Bharti Airtel Ltd. 10.51 Total Equity Holdings 16.36 463.60


Auto 0.95 26.79 Maruti Suzuki India Ltd. 14.24 Mahindra & Mahindra Ltd. 12.55 Banks 2.26 64.16 ICICI Bank Ltd. 34.47 Standard Chartered Plc (IDR) 10.57 HDFC Bank Ltd. 9.60 Federal Bank Ltd. 9.52 Construction Project 1.15 32.56 Larsen & Toubro Ltd. 32.56 Diversified 0.24 6.69 Hindustan UniLever Ltd. 6.69 Ferrous Metals 0.21 6.07 Tata Steel Ltd. 6.07 Finance 0.94 26.73 Housing Development Finance Cor. Ltd. 14.72 Power Finance Corporation Limited 12.01 Gas 0.95 26.92 GAIL (India) Ltd. 14.02 Indraprastha Gas Limited 12.90 Industrial Capital Goods 0.90 25.44 Bharat Heavy Electricals Ltd. 15.99 Voltamp Transformers Ltd. 9.45 Industrial Products 0.23 6.46 Sintex Industries Ltd. 6.46 Non - Ferrous Metals 0.24 6.80 Sterlite Industries Ltd. 6.80 Oil 0.65 18.49 Oil & Natural Gas Corporation Ltd. 18.49 Pesticides 0.23 6.44 United Phosphorus Ltd. 6.44 Petroleum Products 2.43 68.92 Reliance Industries Ltd. 49.04 Bharat Petroleum Corporation Ltd. 19.88 Pharmaceuticals 0.24 6.77 Cipla Ltd. 6.77 Power 1.45 41.08 GVK Power & Infrastructure Ltd. 13.28 NTPC Ltd. 11.98 Tata Power Co. Ltd. 9.81 Reliance Infrastructure Limited 6.01


Credit Quality ProfileComposition By Assets


2.93%

Total EquityHolding 16.36%

Money Market Instruments

10.73%Corporate Debt 69.97%


Equity 16.36%


AAA & Equivalent 47.00%


3


Who Should Invest ?Risk averse investors with a medium term investment horizon seeking market returns in times of interest rate volatility

As on June 30, 2010

14

Fortis (An Open-Ended Income Scheme)

Money Plus FundCRISIL AAAf*

FUND FACTSInvestment ObjectiveThe primary objective of the Scheme is to provide income consistent with the prudent r isk from a portfol io comprising of floating rate debt ins t ruments , f i xed ra te debt i n s t r u m e n t s , m o n e y m a r k e t instruments and derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme do not guarantee / indicate any returns.

Date of AllotmentOctober 21, 2005

Fund Manager(Since September 1, 2007)Mr. Alok Singh(Total Experience: 9 years)

NAV DetailsRegular PlanGrowth Option : Rs. 13.8975Daily DividendOption : Rs. 10.0030Weekly DividendOption : Rs. 10.0089Monthly DividendOption : Rs. 10.0434

Institutional PlanGrowth Option : Rs. 14.0694Daily DividendOption : Rs. 10.0031Weekly DividendOption : Rs. 10.0092Monthly DividendOption : Rs. 10.0446


Assets Rs. Lacs)



Assets Rs. Lacs)

Corporate Debt 45.85 113,363.85ETHL Communications 19,665.07 AAA(IND)Holdings Ltd. (SO)Shriram Transport Finance Co. Ltd. 8,850.00 AA(IND)LIC Housing Finance Ltd. 5,508.55 AAAElectrosteel Castings Ltd 5,500.00 PR1+Edelweiss Securities Ltd. 5,000.00 P1+Small Industries Dev Bank of India 5,000.00 CARE

AAASREI Infrastructure Finance Ltd. 4,501.17 A1+Birla TMT Holdings Pvt. Ltd. 4,500.00 P1+Kesoram Industries Ltd. 4,000.00 PR1+Corp Loan Sec Trust 06 Sr XXXIII 3,816.95 F1+(IND)

(SO)Receivable Sec Trust Sr XIV 3,080.67 CARE

AAA(SO)TGS Investment & Trade Pvt. Ltd. 3,000.12 A1+Indian Infra Equi Rec Trust Jul 09 2,812.66 AAA(IND)

(SO)CLSS 4 Trust 2010 2,536.91 P1+(SO)Birla TMT Holdings Pvt. Ltd. 2,500.10 P1+Kesoram Industries Ltd. 2,500.00 PR1+SREI Infrastructure Finance Ltd. 2,500.00 PR1+SREI Infrastructure Finance Ltd. 2,500.00 PR1+TGS Investment & Trade Pvt. Ltd. 2,500.00 A1+Turquoise Invest & Finance Pvt. Ltd. 2,500.00 P1+SREI Equipment Finance Pvt. Ltd. 2,499.87 PR1+CLSS 3 Trust 2010 2,417.60 P1+(SO)Piramal Diagnostic Service Pvt. Ltd. 2,200.00 LAA(SO)RHC Holding Pvt. Ltd. 2,113.04 A1+Tata Sons Ltd. 2,012.07 AAAICICI Bank Ltd. 2,000.05 AAAShriram Transport Finance Co. Ltd. 2,000.00 AA(IND)NIIT Ltd. 1,900.23 F1+(IND)Cholamandalam Invt. and Fin. Co. Ltd. 1,748.66 LAA-Reliance Capital Ltd. 1,014.32 CARE

AAAMagma Fincorp Ltd. 600.00 PR1+CLSS 3 Trust 2010 85.81 P1+(SO)

Bill Rediscounted 2.01 4,974.62Kotak Mahindra Bank Ltd.-BRDS 4,974.62 UNRA-

TED

Treasury Bill 1.01 2,485.83182 Days T-Bill (2010) 2,485.83 SOV

Money Market Instruments 52.95 130,907.56Axis Bank Limited-CD 12,302.15 P1+

3

3

3

3

Indiabulls Financial Services Ltd.-CP 11,552.17 P1+United Phosphorus Ltd.-CP 9,888.79 PR1+STCI Primary Dealer Ltd.-CP 9,882.07 A1+Indusind Bank Limited-CD 9,760.89 P1+Kotak Mahindra Bank Ltd.-CD 7,451.01 P1+Manappuram General Fin. & Leasing Ltd.-CP 6,658.32 A1+Motilal Oswal Securities Ltd.-CP 4,927.79 P1+Canara Bank-CD 4,925.20 P1+Reliance Securities Ltd.-CP 4,071.89 A1+(SO)Kotak Mahindra Bank Ltd.-CD 3,938.57 P1+Reliance Capital Ltd.-CP 3,444.86 A1+Reliance Securities Ltd.-CP 3,278.70 A1+(SO)Telco Construction Equipment Co. Ltd.-CP 2,966.44 A1+Jammu & Kashmir Bank Limited-CD 2,966.02 P1+IDBI Bank Ltd.-CD 2,901.03 P1+IDBI Home Finance Ltd.-CP 2,491.52 A1+Indian Oil Corporation Ltd.-CP 2,471.97 P1+IDBI Bank Ltd.-CD 2,469.23 A1+Allahabad Bank-CD 2,466.88 P1+State Bank Of Patiala-CD 2,457.70 P1+Oriental Bank of Commerce-CD 2,426.24 P1+SREI Infrastructure Finance Ltd.-CP 2,205.48 A1+Karur Vysya Bank Ltd.-CD 1,869.86 A1+HDFC Bank Ltd.-CD 1,458.11 PR1+Religare Finvest Limited-CP 1,197.22 A1+Religare Finvest Limited-CP 1,179.67 A1+Alembic Limited-CP 999.56 P1+Bank of Baroda-CD 989.91 A1+State Bank Of Travancore-CD 988.67 P1+Punjab and Sind Bank-CD 987.82 A1+Allahabad Bank-CD 987.02 A1+ICICI Bank Ltd.-CD 494.89 A1+Small Industries Dev.Bank of India-CP 493.70 PR1+Reliance Home Finance Ltd.-CP 370.00 A1+IDBI Home Finance Ltd.-CP 265.31 A1+



Net Receivables / (Payables) -1.82 (4,497.24)

GRAND TOTAL 100.00 247,234.61

3

3

3

3

3

3

Since Inception Last 3 years Last 1 year(% CAGR) (% CAGR) (% CAGR)

Fortis Money Plus Fund - Regular Plan - Growth Option 7.26 7.37 4.83

Fortis Money Plus Fund - Institutional Plan - Growth Option 7.54 7.65 5.05

CRISIL Liquid Fund Index 6.30 6.13 3.29

Period: October 21, 2005 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable.

Performance

* The assigned rating AAAf is valid only for "Fortis Money Plus Fund". The rating of CRISIL is not an opinion of the Asset Management Company's willingness or ability to make timely payments to the investor. The rating is also not an opinion on the stability if the NAV of the Fund, which could vary with market developments.

CRISIL AAAf*Fortis

(An Open-Ended Income Scheme)

Money Plus Fund

As on June 30, 2010

15

FUND FACTSBenchmark IndexCRISIL Liquid Fund Index

Load StructureRegular Plan & Institutional Plan:

$Entry Load : Nil

Exit Load : 0.15% shall be charged if units are redeemed / switched-out within 7 days from the date of investment. The exit load shall not be charged in case of switches between plans/ options of the scheme. Further, no exit load shall be charged on Bonus units and of units allotted on reinvestment of Dividend

Expense Ratio &Quantitative DataRecurring ExpensesRatio - RegularPlan(%) : 0.60Recurring ExpensesRatio - InstitutionalPlan(%) : 0.40Average Maturity : 0.28 yearsModified Duration : 0.16 years


Dividend History



30-Apr-2010 0.0346 0.0323 10.0394 10.0000 1-May-2010

31-May-2010 0.0337 0.0314 10.0384 10.0000 1-Jun-2010

30-Jun-2010 0.0381 0.0355 10.0434 10.0000 1-Jul-2010

Institutional Plan - Monthly Dividend Option (Last 3 months)

30-Apr-2010 0.0370 0.0345 10.0421 10.0000 1-May-2010

31-May-2010 0.0350 0.0327 10.0399 10.0000 1-Jun-2010

30-Jun-2010 0.0392 0.0365 10.0446 10.0000 1-Jul-2010

Composition By Assets Credit Quality Profile

-1.82%

1.01%

2.01%

45.85%

52.95%

-10.00% 0.00% 20.00% 40.00% 60.00%


Treasury Bill

Bills Rediscounted

Corporate Debt

Money Market Instruments

-1.82%

1.01%

2.01%

5.99%

92.52%

-20.00% 0.00% 20.00% 40.00% 60.00% 80.00% 100.00%


Sovereign

Below AA

AA & Equivalent

AAA & Equivalent

FUND FACTSInvestment ObjectiveThe investment objective of the Scheme is to generate income and capital gains through investments in a portfolio of debt and money market instruments. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme launched hereunder does not guarantee/indicate any returns.

Date of AllotmentNovember 8, 2008

Fund Manager(Since October 9, 2008)Mr. Alok Singh(Total Experience: 9 years)(Since August 27, 2009)Mr. Chirag Mehta(Total Experience: 5 years)

NAV DetailsRegular PlanGrowth Option : Rs. 11.8398Monthly-DividendOption : Rs. 10.0578Quarterly-DividendOption : Rs. 10.1490Annual-DividendOption : Rs. 10.1492Institutional PlanGrowth Option : Rs. 10.0906Monthly-DividendOption : Rs. 10.0615Quarterly-DividendOption : Rs. 10.0614Annual-DividendOption : Rs. 10.0488

Benchmark IndexCRISIL Composite Bond Fund Index

Load StructureRegular Plan & Institutional Plan:

$Entry Load: Nil

Exit Load: 2% if redeemed/ switched out upto 1 year from the date of subscription. In case of inter scheme switches, exit load, if any, will be charged. However, for intra scheme switches, no exit load will be charged. Nil if redeemed/ switched out after 1 year from the date of subscription/ switch in. No exit load will be charged for Dividend reinvestment units.

Expense Ratio &Quantitative DataRecurring ExpensesRatio -Regular Plan (%) : 1.96Recurring ExpensesRatio -Institutional Plan (%) : 1.50Average Maturity : 0.45 yearsModified Duration : 0.34 years

Fortis Bond Fund(An Open Ended Income Scheme)

As on June 30, 2010

16

Fixed Income Holdings % of Market Value RatingNet Assets (in Rs. Lacs)

Corporate Debt 52.79 1,939.88 RHC Holding Pvt. Ltd. 500.00 A1+Rural Electrification Corp. Ltd. 315.36 AAADeccan Chronicle Holdings Ltd. 301.98 PR1+Magma Fincorp Ltd. 300.00 PR1+Shriram Transport Finance Co. Ltd. 300.00 AA(IND)Corporate Debt Trust 2008-09 Sr 16 81.37 AAA(SO)Fullerton India Credit Co. Ltd. 50.22 LAA+First Leasing Co. Ltd. 49.80 CAREAASREI Equipment Finance Pvt. Ltd. 31.10 CAREAASundaram Finance Limited 10.05 AA+

Money Market Instruments 50.22 1,845.53 SREI Infrastructure Finance Ltd.-CP 267.03 A1+Reliance Consumer Finance Pvt. Ltd.-CP 200.00 A1+Indiabulls Financial Services Ltd.-CP 197.47 P1+Manappuram General Fin. & Leasing Ltd.-CP 59.19 A1+

CBLO/Repo Instruments 1,121.84


Net Receivables / (Payables) -3.00 (110.41)

GRAND TOTAL 100.00 3,675.00

333333

3333


Who Should Invest ?Investors seeking to take advantage of volatile debt markets & having an investment horizon of 12 - 18 months.

Credit quality profile Performance

Inception 1 year(% CAGR) (% CAGR)

Fortis Bond Fund - Regular Plan - Growth Option 10.82 6.59

CRISIL CompositeBond Fund Index 8.60 4.69

Since Last

Period: November 08, 2008 - June 30, 2010. Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns do not take into account the load, if any. Since inception returns are calculated on Rs.10/- invested at inception. Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable.

Dividend History




31-Mar-2010 0.0632 0.0588 10.0721 10.0000 1-Apr-2010

31-May-2010 0.0800 0.0746 10.0911 10.0000 1-Jun-2010

30-Jun-2010 0.0508 0.0473 10.0578 10.0000 1-Jul-2010

Regular Plan - Quarterly Dividend Option (Last 3 quarters)

31-Dec-2009 0.2908 0.2707 10.3320 10.0000 1-Jan-2010

31-Mar-2010 0.1493 0.1389 10.1704 10.0000 1-Apr-2010

30-Jun-2010 0.1200 0.1118 10.1490 10.0124 1-Jul-2010

Regular Plan - Annual Dividend Option (Last 3 quarters)

31-Mar-2009 0.5323 0.4954 10.6077 10.0000 1-Apr-2009

5-Oct-2009 0.3831 0.3565 10.4374 10.0001 6-Oct-2009

31-Mar-2010 0.4702 0.4376 10.5368 10.0000 1-Apr-2010


5-Oct-2009 0.0175 0.0163 10.0202 10.0002 6-Oct-2009

31-May-2010 0.0121 0.0113 10.0138 10.0000 1-Jun-2010

30-Jun-2010 0.0539 0.0503 10.0615 10.0001 1-Jul-2010

Institutional Plan - Quarterly Dividend Option (Last 3 quarters)

30-Jun-2010 0.0423 0.0394 10.0614 10.0133 1-Jul-2010


-3.00%

12.00%

30.53%

60.47%

-10.00% 0.00% 25.00% 50.00% 75.00%


AA & Equivalent

Repo Instruments

AAA & Equivalent


Assets Rs. Lacs)

Corporate Debt 19.85 12,800.00 Piramal Diagnostic Service Pvt. Ltd. 7,800.00 LAA(SO)Manaksia Ltd. 2,500.00 PR1+Usha Martin Ltd. 2,500.00 PR1+

Money Market Instruments 79.46 51,246.91Reliance Capital Ltd.-CP 6,397.68 A1+Reliance Communications Ltd.-CP 4,950.97 A1+Indiabulls Financial Services Ltd.-CP 4,936.83 P1+IDBI Bank Ltd.-CD 4,335.90 P1+Edelweiss Capital Limited-CP 3,546.25 P1+Axis Bank Limited-CD 3,391.79 P1+Oriental Bank of Commerce-CD 2,481.60 P1+Indusind Bank Limited-CD 2,430.13 P1+State Bank Of Travancore-CD 2,426.02 P1+State Bank Of Mysore-CD 2,396.41 A1+Kotak Mahindra Bank Ltd.-CD 2,379.81 P1+Indusind Bank Limited-CD 2,324.17 P1+IDBI Home Finance Ltd.-CP 2,191.23 A1+Federal Bank Ltd.-CD 1,913.61 P1+Union Bank of India-CD 985.25 P1+HDFC Bank Ltd.-CD 962.61 PR1+Manappuram General Fin & Leasing Ltd.-CP 680.63 A1+SREI Infrastructure Finance Ltd.-CP 494.50 A1+Kotak Mahindra Bank Ltd.-CD 491.26 P1+Oriental Bank of Commerce-CD 486.43 P1+Allahabad Bank-CD 485.21 A1+Reliance Securities Ltd.-CP 305.66 A1+(SO)



Net Receivables / (Payables) 0.70 449.50

GRAND TOTAL 100.00 64,496.41

3

33

33

3

3333


Who Should Invest ?


Investors who seek to insulate themselves from price volatility caused by interest rate movements in the debt markets.


Dividend History



30-Apr-2010 0.0326 0.0304 10.0371 10.0000 1-May-201031-May-2010 0.0349 0.0325 10.0397 10.0000 1-Jun-201030-Jun-2010 0.0342 0.0318 10.0389 10.0000 1-Jul-2010

Regular Plan - Quarterly Dividend Option (Last 3 quarters)31-Dec-2009 0.0991 0.0922 10.1131 10.0000 1-Jan-201031-Mar-2010 0.0943 0.0878 10.1077 10.0000 1-Apr-201030-Jun-2010 0.0789 0.0735 10.1162 10.0264 1-Jul-2010

Institutional Plan - Monthly Dividend Option (Last 3 months)30-Apr-2010 0.0362 0.0337 10.0412 10.0000 1-May-201031-May-2010 0.0387 0.0360 10.0440 10.0000 1-Jun-201030-Jun-2010 0.0378 0.0352 10.0431 10.0001 1-Jul-2010

Institutional Plus Plan - Monthly Dividend Option (Last 3 months)31-Dec-2008 0.1098 0.1022 10.1285 10.0031 1-Jan-200930-Jan-2009 0.0881 0.0820 10.1032 10.0026 31-Jan-200927-Feb-2009 0.0215 0.0200 10.0262 10.0017 28-Feb-2009

Fortis Short Term Income Fund(An Open-Ended Income Scheme)

As on June 30, 2010

17

FUND FACTSInvestment ObjectiveThe primary objective of the Scheme is to provide income consistent with the prudent r isk from a portfol io comprising various debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme / Plan(s) do not guarantee / indicate any returns.


Fund Manager(w.e.f. October 1, 2009)Mr. Chirag Doshi(Total Experience: 8 years)

NAV DetailsRegular PlanGrowth Option : Rs. 14.4299Monthly DividendOption : Rs. 10.0389Weekly DividendOption : Rs. 10.0082Quarterly DividendOption : Rs. 10.1162

Institutional PlanGrowth Option : Rs. 10.6680Daily Dividend Option : Rs. 10.0031Weekly Dividend Option : Rs. 10.0090Monthly Dividend Option : Rs. 10.0431

Institutional Plus PlanGrowth Option : Rs. 10.4316Daily DividendOption : Rs. 10.0030

Benchmark IndexCRISIL Short Term Bond Fund Index

Load StructureRegular, Institutional & Institutional Plus Plans:

$Entry Load: Nil

Exit Load: 0.15% if redeemed/ switched-out before 7 days from the date of subscription/switch-in.Nil if reedemed/switched-out after 7 days from the date of subscription/ switch-in.

Expense Ratio &Quantitative DataRecurring ExpensesRatio - RegularPlan (%) : 1.15Recurring ExpensesRatio - InstitutionalPlan (%) : 0.65Recurring ExpensesRatio - InstitutionalPlus Plan (%) : 0.63Average Maturity : 0.40 yearsModified Duration : 0.29 years

Since Inception Last 1 year(% CAGR) (% CAGR) (% CAGR) (% CAGR)

FSTIF - Regular Plan - Growth Option 6.53 6.80 7.55 4.72

CRISIL Short Term Bond Fund Index 6.52 6.80 7.69 4.85

Last 5 years Last 3 years


Performance

Composition By Assets

Credit Quality Profile



Corporate Debt 19.85%

Net Receivables /(Payables) 0.70%



Portfolio

Who Should Invest ?Investors seeking to generate regular returns in line with the Overnight rates and wanting to invest for a period of 1 day to a month.

PerformanceSince Last 7 Last 15 Last 1 Last 3 Last 6 Last 1 Last 3 Last 5

Inception Days Days Month Months Months Year Years Years(% (% (% (% (% (% (% (% (%

CAGR) Absolute) Absolute) Absolute) Absolute) Absolute) CAGR) CAGR) CAGR)

FONF - Regular Plan - Growth Option 5.90 0.10 0.20 0.38 1.18 2.34 4.76 6.39 6.10

FONF - Institutional Plan - Growth Option 6.28 0.10 0.21 0.43 1.36 2.59 5.16 6.70 6.46

CRISIL Liquid Fund Index 5.95 0.10 0.21 0.40 0.99 1.92 3.29 6.13 6.20


Dividend History




30-Apr-2010 0.0310 0.0310 10.0396 10.0000 1-May-2010

31-May-2010 0.0309 0.0309 10.0395 10.0000 1-Jun-2010

30-Jun-2010 0.0300 0.0300 10.0384 10.0001 1-Jul-2010


30-Apr-2010 0.0166 0.0166 10.0212 10.0000 1-May-2010

31-May-2010 0.0346 0.0346 10.0442 10.0000 1-Jun-2010

30-Jun-2010 0.0335 0.0335 10.0429 10.0001 1-Jul-2010

Institutional Plus Plan - Monthly Dividend Option (Last 3 months)

30-Apr-2010 0.0011 0.0011 10.0014 10.0000 1-May-2009

31-May-2010 0.0346 0.0346 10.0442 10.0000 1-Jun-2010

* The assigned rating AAAf is valid only for 'Fortis Overnight Fund'. The rating of CRISIL is not an opinion of the Asset Management Company's willingness or ability to make timely payments to the investor. The rating is also not an opinion on the stability of the NAV of the fund, which could vary with market developments.

FUND FACTSInvestment ObjectiveThe primary investment objective of the Scheme is to generate regular returns in line with the overnight rates. However, there can be no assurance that the investment objective of the Plans/ Scheme will be realised.


Fund Manager(Since February 12, 2007)Mr. Alok Singh(Total Experience: 9 years)

NAV DetailsRegular PlanGrowth Option : Rs. 13.9686Weekly DividendOption : Rs. 10.0083Monthly DividendOption : Rs. 10.0384

Institutional PlanGrowth Option : Rs. 14.2611Daily DividendOption : Rs. 10.0030Weekly DividendOption : Rs. 10.0092Monthly DividendOption : Rs. 10.0429

Benchmark IndexCRISIL Liquid Fund Index

Load StructureThere is no Entry Load$ or Exit Load or CDSC. No entry/ exit load will be charged on Bonus units/ Dividend Re-investment units.

Expense Ratio &Quantitative DataRecurring ExpensesRatio - RegularPlan (%) : 0.75Recurring ExpensesRatio - InstitutionalPlan (%) : 0.33Recurring ExpensesRatio - InstitutionalPlus Plan (%) : 0.34Average Maturity : 0.14 yearsModified Duration : 0.12 years

Fortis Overnight Fund(An Open-Ended Liquid Scheme)

As on June 30, 2010

18

CRISIL AAAf*


Assets Rs. Lacs)

Corporate Debt 43.93 9,029.82 NIIT Ltd. 4,100.49 F1+(IND)Sundaram Finance Limited 3,427.68 AA+Tata Sons Ltd. 1,501.65 AAA

Money Market Instruments 53.77 11,053.72Indusind Bank Limited-CD 4,104.05 P1+Religare Finvest Limited-CP 3,952.57 A1+Indiabulls Financial Services Ltd.-CP 2,962.10 P1+



Net Receivables / (Payables) 2.30 473.75

GRAND TOTAL 100.00 20,557.28

Composition By Assets

Credit Quality Profile


Corporate Debt 43.93%



2.30%



Fixed Term Plans - Credit Quality Profile

As on June 30, 2010 19

Fortis Fixed Term Plan -Series 17: Plan A

Fortis Fixed Term Plan - Series 9:Three Yearly Plan A




4.46%


Fortis Fixed Term Plan - Series 13: Plan D




6.61%







Fortis Fixed Term Plan -Series 16: Plan B





Fortis Fixed Term Plan -Series 16: Plan C





Fortis Fixed Term Plan -Series 16: Plan D

New Receivables, 3.13%

AAA, 30.06%

AA,66.81%

-11.59%

13.89%

39.90%

57.80%

-20.00% 0.00% 20.00% 40.00% 60.00%


Repo Instruments

AA & Equivalent

AAA & Equivalent


-1.18%

9.39%

12.53%

79.26%

-10.00% 0.00% 30.00% 60.00% 90.00%


Repo Instruments

AA & Equivalent

AAA & Equivalent





Fortis Bond Fund: Investment Objective: To generate income and capital gains through investments in a portfolio of debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be realized. Load Structure: Entry Load: Nil. Exit Load: 2% if redeemed/ switched-out upto 1 year from the date of subscription. Nil if redeemed/ switched out after 1 year from the date of subscription/ switch in. In case of inter scheme switches, exit load, if any, will be charged. However, for intra scheme switches, no exit load will be charged. Also, no exit load will be charged for Dividend reinvestment units. Statutory Details: Sponsor: ABN AMRO Asset Management (Asia) Ltd. Trustee: Fortis Trustee (India) Pvt. Ltd. Investment Manager / AMC: Fortis Investment Management (India) Pvt. Ltd. With effect from October 24, 2008, ABN AMRO Mutual Fund has been renamed to Fortis Mutual Fund with the same SEBI registration number. Fortis Mutual Fund has been constituted as a Trust in accordance with the provisions of the Indian Trusts Act, 1882 (2 of 1882), by the Sponsor and the Trustee as per the terms of the superceding Trust Deed dated March 5, 2009. Risk Factors: All mutual funds and securities investments are subject to market risks, and there can be no assurance that the funds' objectives will be achieved. Investment in Mutual Fund Units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal. As the price / value / interest rates of the securities in which the Schemes invest fluctuates, the NAV of the Schemes may go up or down depending upon the factors and forces affecting the securities market. Various factors impact the value of the Schemes' investments include, but are not limited to, fluctuations in the bond markets, fluctuations in interest rates, prevailing political and economic environment, changes in government policy, factors specific to the issuer of the securities, tax laws, liquidity of the underlying instruments, settlement periods, trading volumes etc. The names of the Schemes do not in any manner indicate either the quality of the Schemes or their future prospects and returns. Past performance of the Sponsor / AMC / Mutual Fund does not guarantee future performance of the Schemes. The Sponsor is not responsible or liable for any loss resulting from the operation of the Schemes beyond the initial contribution of Rs. 1 lakh made by it towards setting up the Fund. The Schemes do not guarantee or assure returns. Investment decisions made by the AMC may not always be profitable. Offer Document (OD)/ Statement of Additional Information (SAI), Scheme Information Document (SID) & Key Information Memorandum cum Application forms (KIM) are available at AMC offices / AMC web-site: www.fortisinvestments.in / Investor Service Centres / Distributors. Investors should read the respective OD/ SAI, SID & KIM carefully in its entirety before investing and retain these documents for future references. The presentation of statistics for the open-ended Schemes of the Fund has been provided as per the AMFI circular dated October 25, 2007 on a best effort basis and is not an endorsement of these statistics by Fortis Investment Management (India) Private Ltd. These statistics may or may not be useful for judging performance or risk with investing in these Schemes. Any information contained herein does not constitute and shall be deemed not to constitute an advice, an advertisement, an offer to sell /purchase or as an invitation or solicitation to buy any of the products of Fortis Investment Management (India) Private Limited (FIMIPL). The material contained herein has been obtained from sources believed to be reliable, but FIMIPL makes no representation that it is accurate or complete. FIMIPL has no obligation to tell the recipient when opinions or information given herein change. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Except for the historical information contained herein, statements in this Publication, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. FIMIPL undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. The words like believe/belief are independent perception of the Fund Manager and do not construe as opinion or advise.Note: $: In accordance with the requirements specified by the SEBI circular no. SEBI/ IMD/ CIR No. 4/ 168230/09 dated June 30, 2009 no entry load will be charged for purchase/additional purchase/ switch-in accepted by the Fund with effect from August 01, 2009. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor's assessment of various factors including service rendered by the ARN Holder. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor's assessment of various factors including service rendered by the ARN Holder. ^: With effect from August 01, 2009, exit load up to 1% of the redemption value charged to the unit holder by the Fund on redemption of units shall be retained by each of the schemes in a separate account and will be utilized for payment of commissions to the ARN Holder and to meet other marketing and selling expenses. Any amount in excess of 1% of the redemption value charged to the unit holder as exit load shall be credited to the respective scheme immediately.

fortis - june factsheet 060710 · the first two months of fy 2010-2011, trade deficit widened to...

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