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TRANSCRIPT
KARVY’s
December, 2017
INVESTOR JOURNAL
www.karvyvalue.com
What’s Inside
KARVY’sINVESTOR JOURNAL
Fund of the MonthADITYA BIRLA SL EQUITY FUND(G)
An open-end growth scheme with
the objective of long term growth of capital...December, 2017
Page 04
Market ReviewPage 01
Karvy Investment InsightPage 03
Fund of The MonthPage 04
Readers CornerPage 05
AMC CornerPage 06
Story of The MonthPage 07
SIP PerformancePage 08
Category Average ReturnsPage 09
Fixed Deposits SchemesPage 10
Equity Funds PerformancePage 11
Debt Funds PerformancePage 12
Global Markets at a GlancePage 13
Indices WatchPage 14
Highlights of the Month » Inflation rose to its 6 months high in October to 3.59%, it’s expected to
ease up in coming months. Wholesale inflation rose to 3.59%, this is the highest in the 6 months.
» Foreign institutes has pumped in USD 2.6 billion in this month so far in country’s capital market, this is majorly affected by government’s announcement on recapitalizing the PSU banks and India doing well on World bank’s list of “ease of doing business index”.
» FPIs infused Rs 16,455 cr in equities in November and Rs 754 cr in debt markets.
» The money coming into mutual fund (MF) schemes through systematic investment plans (SIP) has seen a 48 per cent jump this financial year. In the first seven months of 2017-18, nearly Rs 35,000 crore has come through SIPs, at an average of Rs 5,000 crore a month.
» The Employees’ Provident Fund Organization (EPFO) on Thursday decided to credit units of exchanged traded funds (ETF) to the provident fund (PF) accounts of its over 45 million subscribers, giving them a window to monetize the fund’s equity exposure.
» Financial services focused Edelweiss group has raised its latest alternative investment fund-Edelweiss Crossover Opportunities Fund-a pre-initial public offering (IPO) fund of up to Rs 1,750 crore (approx $270 million.
» This has been proven best year for IPOs, the capital market experienced an inflow of Rs 66,169 Cr. surpassing the previous record of Rs 37,535 cr in 2010.
» IRDA makes linking of Aadhaar with insurance policy mandatory.
» Asset mobilization through the new fund offer (NFO) route has hit a nine-year high in 2017. The mutual fund (MF) industry launched a total of 47 NFOs during the first 10 months of the year, to mop up a cumulative Rs 13,500 crore.
» Standard & Poor Global Ratings retained its BBB - rating for India’s sovereign with a ‘stable’ outlook.
INVESTOR JOURNALDecember, 2017
Market Review
‘Is it still the right time to invest’?
If you are one of those people who believe in ‘playing it safe’ with waiting for right time to invest. Think again.
The stock market has staged a rally which gives us a feeling of overvalued market or time for large correction. In the hope of a correction, are we losing out on the gain if we stay invested? Do we need to time the market, if our goals are of long term?
The only mantra you need to remember is start early, invest regularly and stay invested for a long term to reap the benefits and do not get overwhelmed with market (Mostly) ups & downs.
Having said that, people have enjoyed a really good run for 6-plus years now, however it is time to temp down the return expectation. Going forward we may have to settle with high single digit return instead of double digit returns. diversification will remain the go to factor while investing and understanding risk return trade off will help us reach to our financial goals without any hiccup.
Invest in Mutual fund because Mutual funds sahi hai. SIP is one of the ideal ways to invest in Mutual Funds.
1.Foreign Trade: India registered a merchandise trade deficit of USD 14.02 billion in Oct’17 against USD 11.13 billion in Oct’16, increasing by 25.90% on Y-o-Y basis. On an M-o-M basis, the trade deficit also surged by 56.04% from USD 8.98 billion recorded in Sep’17.
The Rupee ranged between Rs.64.76 - Rs.65.55 per USD before closing at Rs.64.77 per USD in the month of Oct’17, vis-à-vis Rs.65.36 per USD recorded in Sep’17.
The country’s merchandise exports was reported at USD 23.10 billion in Oct’17 as against USD 23.36 billion recorded in Oct’16, recording a decline of 1.12% Y-o-Y.
Non-petroleum exports constituting around 86% of the total exports, stood at USD 19.91 billion, recording a Y-o-Y contraction of 4.25% in Oct’17.
On the contrary, petroleum exports saw a Y-o-Y growth of 24.25% in Oct’17 with exports worth USD 3.19 billion against USD 2.56 billion in Oct’16, although much lower compared to petroleum exports of USD 7.33 billion recorded in Sep’17.
Oil imports continued to increase, posting a growth on a Y-o-Y basis of 27.89% to USD 9.29 billion in Oct’17. The Oil imports constituted around 25% of the total imports alone, during the month. o The non-oil imports also posted a small spike of 2.19% to USD 27.83 billion vis-à-vis non-oil imports of USD 27.23 billion recorded in the month
of October of the previous fiscal.
2.Inflation:
As expected, we have seen upside in CPI inflation, it has risen to 3.58% in Oct. as compared to 3.28% in Sep. A rise in prices of food and fuel has impacted this upside. Core inflation decreased to 4.55% as compared to previous month despite of significant rise in housing prices.
WPI marginally shifted downwards at 2.88% from 2.89% in the previous month. Its expected to inflate further if the food prices does ease. Additionally, a rise in prices of global commodities also poses an upside risk to inflation in the coming months.
3.Index of Industrial Production (IIP):
The index of industrial production saw a slowdown coming in at 3.8% in Sep-17 as compared to 4.5% in Aug-17 (revised from 4.3%). Though an upward momentum sustained across sectors, growth in manufacturing and electricity was at a lower rate on a sequential basis. Driven by a higher coal output, high growth in the mining
sector positively impacted IIP index.
Among the BSE sectoral indices, S&P BSE BANKEX 3.55%, S&P BSE Realty Index 4.39%, S&P BSE Consumer Durables 15.46% were the gainers while S&P BSE METAL Index and S&P BSE OIL & GAS Index were at - 4.05% and -3.03% were on the lowest side.
Amongst the NSE Sector indices, NIFTY MEDIA 6.65% NIFTY PSU BANK 5.30% NIFTY REALTY 4.81% were the gainers were as NIFTY PHARMA -4.48% NIFTY METAL -3.63% NIFTY PSE -3.58% were the on the lower side.
It was a mixed month for the major Asian Indices as Hangseng, Taiwan, Nikkei 225 ended by 5.08% and -0.80%, 2.16%.
All major European indices ended in negative territory with BEL-20 & FTSE 100 going up -2.70% and -0.40%.
Apart from FII and MF activity, Key domestic data released in the month of November were:
1
INVESTOR JOURNALDecember, 2017
S&P BSE SENSEXDate Close Price Points Diff %age Change
31-Oct-17 33266.16
3-Nov-17 33573.22 307.06 0.92%
9-Nov-17 33218.81 -354.41 -1.06%
16-Nov-17 32760.44 -458.37 -1.38%
22-Nov-17 33478.85 718.41 2.19%
27-Nov-17 33679.24 200.39 0.60%
1.24%
CNX Nifty IndexDate Close Price Points Diff %age Change
31-Oct-17 10363.65
3-Nov-17 10423.80 60.15 0.58%
9-Nov-17 10303.15 -120.65 -1.16%
16-Nov-17 10118.05 -185.10 -1.80%
22-Nov-17 10326.90 208.85 2.06%
27-Nov-17 10389.70 62.80 0.61%
0.25%
Sensex & Nifty:
MF Activity: (Month Between 01-Nov-2017 to 27-Nov-2017)
EquityDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Nov-17 3,173.64 3,312.13 -138.49
3-Nov-17 2,555.52 2,381.63 173.89
6-Nov-17 2,855.91 2,710.97 144.94
8-Nov-17 5,255.80 2,551.00 2,704.80
9-Nov-17 2,502.07 2,172.72 329.35
Nov-17 26,487.24 22,662.04 3,825.20
DebtDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Nov-17 6,908.39 4,251.68 2,656.71
3-Nov-17 7,894.34 4,427.92 3,466.42
6-Nov-17 12,412.66 7,424.51 4,988.15
8-Nov-17 7,308.86 4,654.93 2,653.93
9-Nov-17 9,473.38 4,116.66 5,356.72
Nov-17 66,971.14 39,629.53 27,341.61
2
FII Activity: (Month Between 01-Nov-2017 to 27-Nov-2017)
EquityDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Nov-17 6,128.05 5,085.52 1,042.53
6-Nov-17 5,141.15 4,403.05 738.10
10-Nov-17 5,144.76 5,172.48 -27.72
20-Nov-17 4,760.51 4,977.81 -217.30
27-Nov-17 7,521.88 4,518.00 3,003.88
Nov-17 116,650.53 97,029.70 19,620.83
DebtDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Nov-17 675.36 971.67 -296.31
6-Nov-17 782.7 1,332.75 -550.05
10-Nov-17 1,268.32 1,431.47 -163.15
20-Nov-17 2,151.06 1,171.22 979.84
27-Nov-17 603.79 696.82 -93.03
Nov-17 23,019.22 24,346.88 -1,327.66
INVESTOR JOURNALDecember, 2017
12
Exciting Features now out for
Online Investment Account
INVESTOR JOURNALDecember, 2017
Karvy Investment Insight
Peace of mind and Wealth Creation ideas for long term
Karvy Insights brings to you investment wisdom to help our investors make sound investment decisions and reach their goals faster. These inputs may not help you become wealthy in a short span of time, but they would definitely give you peace of mind and a roadmap for your financial journey.
BASED ON TIME TO GOAL
Five Factors Key to Investing - Select the Right Product
Longer investment horizons are associates with riskier asset classes
3
INVESTOR JOURNALDecember, 2017
4
I think reading and internalizing 10 great books a year is more than sufficient. If you have
the luxury of time you can read more, but I think too many subconsciously use reading as an excuse not to act. Get out and
apply what you learn. Do something with your life.
- Ian Cassel@iancassel
An
FD investor can’t be
a candidate for a total switch to
balanced funds. His risk appetite may not
allow it. MF industry has erred bigtime.
- Shyam Sekhar@shyamsek
India will soon find a shortage of bidders for executing the
unprecedented, large number of Infra projects; search for your 10x Infra stock.
- Porinju Veliyath @porinju
‘Tweets’ of the Month
Fund of The Month
ADITYA BIRLA SL EQUITY FUND(G)
Investment Objective:
An open-end growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities.
Portfolio:
Top 10 Companies Holdings
Name %age
HDFC Bank Ltd. 6.2
ICICI Bank Ltd. 4.8
Vedanta Ltd. 4.2
Maruti Suzuki India Ltd. 3.0
IndusInd Bank Ltd. 2.8
ITC Ltd. 2.8
Tata Communications Ltd. 2.7
Bajaj Finance Ltd. 2.6
Dabur India Ltd. 2.6
Housing Development Finance Corporation Ltd. 2.4
Top 10 Sector Wise Holding
Industry Name (%)
Bank - Private 18.8
Finance - Finance - Investment 11.3
Finance - NBFC 6.5
Metal - Non Ferrous 6.0
Pharmaceuticals & Drugs 4.8
IT - Software 4.7
Household & Personal Products 4.5
Finance - Housing 3.1
Telecommunication - Service Provider 3.1
Automobiles - Passenger Cars 3.0
To read the full Information, Click Here
About Performance of the Scheme:
Managed by Mr. Anil Shah, Aditya Birla SL Equity fund for the 2nd quarter in the row is amongst the top 3 funds...
Indicates an increase or decrease or no change in holding since last profile. Indicates an increase or decrease in holding since last portfolio.
Visionaries not only believe that the impossible can be done, but
that it must be done.
- Harsh Mariwala@hcmariwala
“The first rule of compounding: Never interrupt it
unnecessarily.” - Munger
- Collaborative Fund@collabfund
INVEST HERE
INVESTOR JOURNALDecember, 2017
Readers Corner
5
5 TIPS TO SELECT BEST ELSS FUND
If you are reading this, congratulations you have selected best product to save your income tax. ELSS or Equity linked saving scheme is a tax saving investment product, which predominantly invest in equity or equity related instruments with a lock in period of 3 years. You can get tax exemption up to Rs. 1,50,000 under section 80 c.
Here are few tips which will help you to choose the best ELSS fund.
Past Performance and Age of the fund: Past performance speaks tremendous about one’s ability and likelihood for success. Definitely past performance can’t guarantee future returns, but it gives you indication of how the fund manager was able to generate returns during ups and downs of market cycle, You can get a clear picture about the returns generate were because of bull market run or the strategies used by the fund manager.
However it is only possible with the funds which has track record of more than 5 years where a full market cycle get covered, new funds can only be judged based on the objective of the fund as well as fund allocation.
Consistency: This is very important for the people who have an investment time horizon of medium or long term, a fund can’t be judged based on its 1 year or 6 months returns.
Market Cap allocation: ELSS funds are free to choose their allocation in equities; however you should also give certain weightage while selecting a fund basis your risk profile. A fund, having higher exposure towards large cap will take care of a moderate client’s risk profile, similarly, one should see what kind of allocation the fund has given to mid and small cap to assess the risk return trade off.
XIRR of the fund: XIRR helps in calculating the internal rate of return for scheduled cash flows. Many of us don’t have lump sum amount to invest hence choose to invest periodically. By calculating the XIRR we can further filter best funds...
To read the full Article, Click Here
INVESTOR JOURNALDecember, 2017
12
Exciting Features now out for
Online Investment Account
Features
NFO
Purchase
Convert
Offline Folios
to Online
STP
&
SWP
CHECK OUT...
INVESTOR JOURNALDecember, 2017
AMC Corner
6A joint initiative with HDFC
INVESTOR JOURNALDecember, 2017
Story of The Month
A teacher teaching Maths to seven-year-old Arnav asked him, “If I give you one apple and one apple and one apple, how many apples will you have? “Within a few seconds Arnav replied confidently, “Four!”
The teacher was disappointed. ”Maybe the child did not listen properly,” she thought. She repeated, “Arnav, listen carefully. If I give you one apple and one apple and one apple, how many apples will you have?”
He calculated again on his fingers. This time hesitatingly he replied, “Four…”
The disappointment stayed on the teacher’s face. She remembered
THE FOUR APPLES
that Arnav liked strawberries. She thought maybe he doesn’t like apples and that is making him lose
focus. This time with an exaggerated excitement and twinkle in her eyes she asked, “If I give you one
strawberry and one strawberry and one strawberry, then how many will you have?”
Arnav calculated on his fingers again. With a hesitating smile young Arnav enquired, “Three?”
The teacher now had a victorious smile. Her approach had succeeded. Once again she asked him,
“Now if I give you one apple and one apple and one more apple how many will you have?” Promptly
Arnav answered, “Four!”
The teacher was aghast. ”How Arnav, how?” she demanded in a little stern and irritated voice.
In a voice that was low and hesitating, Arnav replied, “Because I already have one apple in my bag.”
MORAL OF THE STORY:
Courtesy : Karvy Learning Center
Direct Dil Se…
7
When someone gives you an answer that is different from what you expect don’t think they are wrong. There maybe an angle that you have not understood at all. You will
have to listen and understand. Never listen with a predetermined notion.
INVESTOR JOURNALDecember, 2017
SIP Performance
S&P BSE SENSEXCurrent NAV (`)
3 Year SIP 5 Year SIP
Rs.36000 Rs.60000
Profit-SIP XIRR(%) Profit-SIP XIRR(%)
Large Cap
IDFC Focused Equity Fund-Reg(G) 39.89 14984.83 24.10 37061.67 19.38
ICICI Pru Indo Asia Equity Fund(G) 29.50 13148.61 21.43 41764.56 21.34
Reliance Growth Fund(G) 1167.09 13044.78 21.27 44758.35 22.54
Templeton India Growth Fund(G) 274.45 12920.98 21.09 40154.31 20.68
Axis Focused 25 Fund(G) 25.44 12168.47 19.97 37319.03 19.49
Multi Cap
Aditya Birla SL Pure Value Fund(G) 65.00 18300.32 28.77 70932.02 31.93
Principal Growth Fund(G) 148.48 15641.21 25.04 48796.16 24.12
Sundaram Rural India Fund(G) 43.00 15549.60 24.91 51122.23 25.00
L&T India Value Fund-Reg(G) 37.89 14300.78 23.11 57894.83 27.48
MOSt Focused Multicap 35 Fund-Reg(G) 26.34 13892.55 22.52 0.00 0.00
Mid Cap & Small Cap
Aditya Birla SL Small & Midcap Fund(G) 43.07 19493.55 30.40 69736.97 31.54
L&T Midcap Fund-Reg(G) 145.77 17878.78 28.19 70336.06 31.74
Mirae Asset Emerging Bluechip-Reg(G) 51.29 17791.39 28.06 74087.00 32.95
SBI Small & Midcap Fund-Reg(G) 58.13 24282.76 36.74 97640.79 39.95
L&T Emerging Businesses Fund-Reg(G) 27.29 22404.03 34.29 0.00 0.00
ELSS
Principal Tax Savings Fund 218.56 15557.40 24.92 48620.50 24.05
IDFC Tax Advt(ELSS) Fund-Reg(G) 57.32 13985.11 22.65 46068.46 23.06
Tata India Tax Savings Fund-Reg(G) 17.79 13344.07 21.71 0.00 0.00
Reliance Tax Saver (ELSS) Fund(G) 66.73 13178.67 21.47 50837.84 24.89
L&T Tax Advt Fund-Reg(G) 55.75 13163.72 21.45 42003.66 21.44
Sector
DSPBR Natural Res & New Energy Fund-Reg(G) 36.28 23861.81 36.20 66637.91 30.52
L&T Infrastructure Fund-Reg(G) 18.32 19583.97 30.53 63216.04 29.35
IDFC Infrastructure-Reg(G) 19.15 19433.42 30.32 50840.67 24.89
ICICI Pru Banking & Fin Serv Fund(G) 61.54 17440.91 27.58 57708.51 27.42
Aditya Birla SL B & F Services Fund-Reg(G) 28.02 16638.45 26.45 0.00 0.00
Index
ICICI Pru Nifty Next 50 Index Fund(G) 26.50 14384.79 23.23 46065.96 23.06
IDBI Nifty Junior Index Fund(G) 22.75 13511.25 21.96 43434.29 22.01
HDFC Index Fund-Sensex Plus(G) 462.76 8923.38 15.01 26121.33 14.48
HDFC Index Fund-Sensex Plus(G)(Post Addendum) 462.76 8923.38 15.01 26121.33 14.48
UTI Nifty Index Fund(G) 66.82 8356.16 14.12 24613.83 13.76
As on 28th Nov’17 (Funds have been arranged on 3 years performance)
8
INVESTOR JOURNALDecember, 2017
Category Average Returns
Category Sub Category1 Week Return
1 Month Return
3 Month Return
6 Month Return
1 Year Return
3 Year Return
5 Year Return
Since Inception
Diversified
Large-cap 1.02 1.64 6.98 10.79 30.51 11.48 16.23 14.16
Mid-cap 1.68 3.17 10.54 13.57 37.70 17.80 24.82 16.89
Multi-cap 1.32 2.35 8.28 11.80 32.98 13.03 18.65 16.09
Small-cap 2.79 4.77 14.06 17.60 45.04 20.85 30.06 21.85
Sector Funds
Banks & Financial Services 0.14 2.45 4.67 10.19 37.48 14.75 17.01 20.15
Energy & Power 1.22 0.01 8.66 13.82 40.56 18.64 19.82 18.13
FMCG 1.46 5.29 9.66 12.40 41.56 15.44 16.51 16.77
Infrastructure 2.06 2.83 12.36 15.05 41.78 13.91 17.80 10.20
Media & Entertainment 4.18 7.88 12.87 4.99 18.79 8.54 12.96 15.62
Pharma & Health Care 1.60 2.09 7.78 8.40 -5.59 2.17 15.37 11.27
Service Industry 1.87 2.58 11.17 12.41 25.98 11.81 25.69 15.80
TECk 2.30 6.17 12.03 10.96 16.77 3.64 16.63 9.93
Speciality
Contra 1.40 4.20 12.23 15.72 36.51 14.13 19.19 17.85
Dividend Yield 1.11 0.35 7.74 11.55 32.36 11.67 16.10 16.62
Index - Nifty 0.91 0.80 5.67 9.57 29.42 8.51 13.86 11.92
Index - Sensex 1.02 1.78 6.80 9.42 28.67 6.47 12.83 14.29
MNC 0.54 2.97 8.82 13.12 31.81 14.34 22.67 18.18
Equity Exchange Traded Funds 0.85 1.66 7.13 10.31 30.07 8.45 13.55 13.92
Equity Linked Savings Scheme 1.42 2.64 8.85 12.76 33.62 12.98 18.56 18.25
Arbitrage Funds
Debt-Oriented -0.03 0.29 0.80 2.64 6.81 6.98 6.98 6.24
Equity-Oriented 0.06 0.49 1.51 3.10 5.77 6.62 7.40 6.62
Asset Allocation 0.26 0.48 2.42 4.28 12.69 6.75 7.21 9.34
Balanced Funds
Debt-Oriented 0.35 0.57 2.68 4.75 10.76 5.76 10.76 7.94
Equity-Oriented 0.79 1.55 5.24 8.44 21.78 10.20 15.40 13.63
Category Capital Protection Funds 0.19 0.40 1.97 3.82 8.36 7.05 8.07 7.27
Monthly Income Plans 0.12 0.51 2.11 4.57 8.35 9.01 10.17 9.15
Fund Of Funds
Debt-Oriented 0.10 0.40 1.78 4.41 9.08 9.09 9.88 9.37
Equity-Oriented 0.33 0.72 2.98 6.58 19.02 11.16 14.71 13.37
Hybrid-Oriented 0.38 0.80 3.28 6.00 15.17 9.64 11.15 11.96
Gold - FOF -0.38 0.88 1.92 0.88 0.23 2.02 -3.55 0.11
Gold Exchange Traded Funds -0.36 1.16 1.25 0.97 0.32 2.73 -3.04 4.16
Income
Long Term -0.30 -0.17 0.15 2.63 2.52 8.18 8.34 8.08
Medium Term -0.14 0.08 0.86 3.23 5.19 8.59 8.87 8.22
Short Term -0.05 0.20 1.07 3.35 5.35 8.11 8.49 7.98
Gilt
Long Term -0.60 -0.60 -1.04 1.60 0.57 9.30 9.20 8.72
Medium Term -0.33 -0.25 -0.29 1.93 3.16 8.06 8.65 8.16
Short Term -0.05 0.22 0.91 3.32 5.16 8.59 8.60 7.02
Floating Rate
Long Term Floating Rate -0.07 0.19 1.11 3.57 5.36 8.62 8.59 7.85
Med Term Floating Rate -0.07 0.19 1.11 3.57 5.36 8.62 8.59 7.85
Short Term Floating Rate 0.07 0.43 1.51 3.50 6.74 8.12 8.58 7.84
Speciality-Debt
Interval Funds - Half Yrly 0.11 0.53 1.66 3.40 6.99 7.66 8.14 8.08
Interval Funds - Monthly 0.11 0.50 1.55 3.08 6.23 7.10 7.85 7.91
Interval Funds - Quarterly 0.11 0.50 1.56 3.11 6.38 7.22 7.98 8.11
Interval Funds - Yearly 0.11 0.51 1.61 3.37 6.55 7.75 8.22 8.11
Liquid 0.12 0.52 1.55 3.23 6.32 7.33 7.98 7.42
Ultra Short Term Plan 0.07 0.43 1.48 3.42 6.32 7.78 8.33 7.58
Returns are as on 28th Nov’179
INVESTOR JOURNALDecember, 2017
Fixed Deposits Schemes
FD Name Rating IndustryInterest Rate
* (Up to)
Bajaj Finance Ltd.FAAA by CRISILICRA MAAA
Bajaj Finserv is the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category.
8.10%
DHFL Aashray DepositPlus
CARE AAA FD, BWR FAAA
Dewan Housing Finance Ltd (DHFL) is the second housing finance company to be set up in the private sector in India.
8.25%
Gruh Finance Ltd.MAAA by ICRA, FAAAby CRISIL
GRUH Finance Ltd is subsidiary of HDFC Ltd is housing finance company (HFC) recognized by National Housing Bank.
7.50%
HDFC Ltd.FAAA by CRISIL, MAAA by ICRA
A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 4.9 million customers to own a home of their own. HDFC is the Largest mobiliser of public deposits outside the banking system and the HDFC Group has a strong asset base of over Rs.2.97 trillion and a customer base of over 42.5 million.
7.80%
HUDCO‘tAA+(ind)’ by FITCH, ‘CARE AA+(FD)’ by CARE
HUDCO is a premier techno-financing company set up in 1970 by the Government of India to accelerate the pace of housing and urban development in the country.
7.25%
ICICI Home Finance Ltd
CARE FAAA, ICRA MAAA
ICICI Home Finance Company Limited is one of the leaders in the Indian mortgage finance and realty space.
7.75%
LIC Housing Finance Ltd.
FAAA / STABLE by CRISIL
One of India’s largest housing finance companies, having nation-wide network. Consistent record of dividend payments.
7.70%
Mahindra & Mahindra Financial Services Ltd
CRISIL FAAAMahindra and Mahindra Financial Services Limited (MMFSL) commenced its journey two decades back in the rural non-banking finance industry.
7.80%
PNB Housing Finance Ltd.
FAAA by CRISILPNB Housing Finance (PNBHF) is a subsidiary of Punjab National Bank and a partner of Destimoney Enterprises Pvt. Ltd. PNBHF was incorporated in 1988 and is based in New Delhi.
7.65%
Shriram City Union Finance Ltd.
IND +AA- CARE AA FD
As a deposit-accepting non-banking financial company (NBFC), Shriram City is today India’s premier financial services company specializing in retail finance.
8.25%
Shriram Unnati Deposits
FAAA/Stable by CRISIL, MAA+/Stable by ICRA
With a track record of about 30 years in this business, STFC is among the leading organized finance provider for the commercial vehicle industry
8.25%
Sundaram Home Finance Ltd.
ICRA MAA+Sundaram BNP Paribas Home Finance combines its expertise in Home Finance with the Service Orientiation of its promoter Sundaram Finance.
8.25%
* highest rate including additional interest for Senior citizens, employees etc. wherever applicable
10
INVESTOR JOURNALDecember, 2017
Equity Funds Performance
Scheme NameLatest
NAV (`)
Absolute CAGR
1 Year 3 Year 5 YearSINCE
INCEPTION
Diversified
SBI Small & Midcap Fund-Reg(G) 57.95 61.94 31.89 36.91 23.85
L&T Emerging Businesses Fund-Reg(G) 27.26 55.97 26.82 32.74
Aditya Birla SL Small & Midcap Fund(G) 42.93 48.27 25.28 28.07 14.76
Mirae Asset Emerging Bluechip-Reg(G) 51.12 42.76 24.58 31.54 24.73
Reliance Small Cap Fund(G) 43.93 51.73 24.34 32.70 22.84
ELSS
Tata India Tax Savings Fund-Reg(G) 17.77 38.45 18.62 20.25
IDFC Tax Advt(ELSS) Fund-Reg(G) 57.33 46.57 17.35 21.86 21.63
Aditya Birla SL Tax Relief '96(G) 30.74 38.43 16.72 22.63 12.39
L&T Tax Saver Fund(G) 37.84 32.36 16.60 20.82 11.70
Principal Tax Savings Fund 217.66 44.63 16.53 22.06 17.49
Sector
DSPBR Natural Res & New Energy Fund-Reg(G) 36.28 39.00 24.70 23.49 14.39
Aditya Birla SL Banking & Financial Services Fund-Reg(G) 28.01 43.16 21.98 29.81
L&T Infrastructure Fund-Reg(G) 18.21 54.70 21.61 23.90 6.07
ICICI Pru Banking & Fin Serv Fund(G) 61.40 42.05 20.39 24.14 21.64
IDFC Infrastructure-Reg(G) 19.02 54.49 18.85 17.39 10.04
Dividend Yield
BNP Paribas Dividend Yield Fund(G) 49.58 39.11 15.66 20.25 14.02
Principal Dividend Yield Fund(G) 52.58 39.73 13.38 16.44 13.49
ICICI Pru Dividend Yield Equity Fund(G) 18.03 35.67 13.24 18.18
Tata Dividend Yield Fund(G) 76.05 23.85 11.43 16.34 16.87
Aditya Birla SL Dividend Yield Plus(G) 178.55 26.98 8.75 14.84 21.51
Global
MOSt Shares NASDAQ-100 ETF 405.96 22.50 15.35 22.66 22.82
Franklin Asian Equity Fund(G) 22.80 36.14 12.48 12.40 8.71
Reliance ETF Hang Seng BeES 2977.58 26.03 11.31 12.14 12.03
Aditya Birla SL Intl. Equity Fund-B(G) 18.32 25.28 9.89 13.25 6.19
Kotak US Equity Fund(G) 14.45 10.65 8.17 9.81
Equity Index
ICICI Pru Nifty Next 50 Index Fund(G) 115.11 38.51 18.04 21.30 13.99
IDBI Nifty Junior Index Fund(G) 42.88 36.42 17.06 20.50 12.08
HDFC Index Fund-Sensex Plus(G) 126.83 30.24 7.98 14.30 28.34
HDFC Index Fund-Sensex Plus(G)(Post Addendum) 126.83 30.24 7.98 14.30 18.94
UTI Nifty Index Fund(G) 650.88 28.93 7.93 13.65 11.30
Equity FOF
Edelweiss Gr China Equity Off-Shore Fund-Reg(G) 35.02 39.43 13.93 15.35 13.22
ICICI Pru Very Aggressive(G) 4.89 18.61 12.81 12.75 14.92
Aditya Birla SL Financial Planning FOF Aggressive Plan(G) 131.23 23.20 12.02 15.04 12.84
Aditya Birla SL Asset Allocator Multi FoF(G) 4.33 15.95 11.64 14.80 9.56
ICICI Pru Long Term Savings Plan(G) 8.22 18.77 10.55 12.17 13.93
(Funds has been arranged on the basis of 3 years performance)
11
INVESTOR JOURNALDecember, 2017
Debt Funds Performance
Scheme NameLatest
NAV (`)
Absolute CAGR
1 Year 3 Year 5 YearSINCE
INCEPTION
Gilt Funds
Aditya Birla SL Gilt Plus-PF(G) 48.64 2.20 10.84 10.59 9.11
BNP Paribas Government Securities Fund(G) 15.15 2.22 10.83 9.51
SBI Magnum Gilt-LTP-Reg(G) 38.39 2.93 10.79 11.32 8.27
Canara Rob Gilt PGS-Reg(G) 48.00 1.83 10.42 9.99 9.15
Reliance Gilt Securities Fund(G) 22.77 1.78 10.35 10.19 9.29
Income
ICICI Pru Long Term Plan(G) 21.33 3.33 10.21 11.43 10.13
Franklin India Dynamic Accrual Fund(G) 59.99 8.45 9.93 9.31 9.02
UTI Dynamic Bond Fund-Reg(G) 19.93 3.48 9.76 10.12 9.73
DHFL Pramerica Credit Opp Fund-Reg(G) 13.50 6.96 9.63 9.97
SBI Dynamic Bond(G) 21.39 3.26 9.55 8.80 5.63
Scheme NameLatest
NAV (`)
Absolute CAGR
1 Year 3 Year 5 YearSINCE
INCEPTION
Balanced
Principal Balanced Fund(G) 75.42 33.09 15.22 18.09 11.97
L&T India Prudence Fund-Reg(G) 26.13 24.95 13.81 19.23 15.17
ICICI Pru Balanced Fund(G) 128.84 23.76 13.35 19.26 15.19
HDFC Balanced Fund(G) 149.38 24.18 13.34 19.48 17.01
Reliance Reg Savings Fund-Balanced Option(G) 54.98 28.04 13.03 17.46 14.65
MIP
SBI Magnum Children Benefit Plan 2.45 22.17 15.36 15.50 11.23
Aditya Birla SL MIP II-Wealth 25(G) 2.11 12.00 12.06 13.91 10.56
Aditya Birla SL MIP II-Wealth 25(Payment) 2.11 12.00 12.06 14.18 10.67
ICICI Pru Child Care Plan-Study Plan 1.39 9.52 11.60 15.30 12.63
Tata Retirement Sav Fund - Cons Plan(G) 2.62 12.80 10.67 11.73 11.21
Arbitrage
Reliance Arbitrage Advantage Fund(G) 17.39 5.48 6.85 7.69 8.08
DHFL Pramerica Arbitrage Fund-Reg(G) 12.41 5.83 6.77 6.89
Kotak Equity Arbitrage Scheme(G) 24.33 5.67 6.75 7.67 7.59
L&T Arbitrage Opp Fund-Reg(G) 12.54 5.69 6.74 6.87
ICICI Pru Equity-Arbitrage Fund(G) 22.54 5.38 6.69 7.76 7.73
Gold-FOF
Invesco India Gold Fund(G) 9.28 0.52 4.01 2.13 -1.24
HDFC Gold Fund(G) 9.75 1.20 0.73 2.22 -0.41
SBI Gold-Reg(G) 9.48 1.49 0.68 2.24 -0.86
Canara Rob Gold Saving Fund-Reg(G) 8.93 1.70 0.40 2.13 -2.07
ICICI Pru Regular Gold Savings Fund(G) 10.13 -0.55 0.09 2.41 0.20
(Funds has been arranged on the basis of 1 year performance)
Hybrid Funds Performance
12
INVESTOR JOURNALDecember, 2017
Global Markets at a Glance
13
Exhibit: Nifty
Exhibit: S&P 500
Exhibit: Euro Stoxx 50
Exhibit: Nikkei
Exhibit: Shanghai
Exhibit: INR
Exhibit: Dollar Index
Exhibit: Eur
Exhibit: JPY
Exhibit: CNY
Exhibit: India 10 Yr Yld %
Exhibit: US 10 Yr Yld %
Exhibit: Germany 10 Yr Yld %
Exhibit: Japan 10 Yr Yld %
Exhibit: China 10 Yr Yld %
2,560
2,580
2,600
2,620
2,640
17-N
ov
20-N
ov
21-N
ov
22-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
92.0
92.5
93.0
93.5
94.0
94.5
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
2.262.282.302.322.342.362.382.40
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
3,5403,5503,5603,5703,5803,5903,600
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
1.170
1.175
1.180
1.185
1.190
1.195
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
0.320
0.345
0.370
0.395
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
22,000
22,200
22,400
22,600
22,800
20-N
ov
21-N
ov
22-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
30-N
ov
110.5
111.0
111.5
112.0
112.5
113.0
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
0.02
0.03
0.03
0.04
0.04
0.05
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
6.586.596.606.616.626.636.646.65
20-N
ov
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
10200
10250
10300
10350
10400
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
30-N
ov64.20
64.40
64.60
64.80
65.00
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
30-N
ov
6.806.856.906.957.007.057.10
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
30-N
ov
3,250
3,300
3,350
3,400
3,450
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
30-N
ov
3.84
3.89
3.94
3.99
4.04
4.09
21-N
ov
22-N
ov
23-N
ov
24-N
ov
27-N
ov
28-N
ov
29-N
ov
30-N
ov
Source: Bloomberg, Karvy Research
INVESTOR JOURNALDecember, 2017
Indices Watch
Index NameAs on
31-Oct-17As on
28-Nov-17%
Change
S&P BSE Capital Goods 18423.27 18491.12 0.37%
S&P BSE BANKEX 28284.00 29286.76 3.55%
S&P BSE Power Index 2349.20 2346.00 -0.14%
S&P BSE PSU 9400.88 9313.39 -0.93%
S&P BSE DOLLEX 30 4211.59 4282.18 1.68%
S&P BSE AUTO Index 25414.76 25410.74 -0.02%
S&P BSE SENSEX 33213.13 33618.59 1.22%
S&P BSE 100 10776.46 10842.00 0.61%
S&P BSE 200 4541.26 4580.00 0.85%
S&P BSE 500 14485.57 14641.92 1.08%
S&P BSE O & G Index 16552.40 16050.44 -3.03%
S&P BSE METAL Index 14730.27 14134.29 -4.05%
S&P BSE Mid-Cap 16587.98 17038.75 2.72%
S&P BSE GREENEX 2806.80 2801.99 -0.17%
S&P BSE Small-Cap 17600.49 18213.65 3.48%
S&P BSE TECk Index 5974.65 6137.29 2.72%
S&P BSE Con Durables 18465.61 21320.41 15.46%
S&P BSE IT 10362.22 10851.54 4.72%
Indian Indices:
Index NameAs on
31-Oct-16As on
28-Nov-17%
Change
NIFTY FMCG 25687.70 25936.45 0.97%
NIFTY MEDIA 3151.25 3360.80 6.65%
NIFTY COMMODITIES 4099.30 3979.70 -2.92%
NIFTY 100 10740.85 10792.60 0.48%
Nifty 500 Shariah index 3031.11 3079.00 1.58%
NIFTY PSE 4414.65 4256.55 -3.58%
NIFTY DIV OPPS 50 2584.75 2565.55 -0.74%
NIFTY FINANCE 10235.70 10544.70 3.02%
NIFTY IT 10837.90 11270.60 3.99%
NIFTY REALTY 304.50 319.15 4.81%
Nifty Midcap 50 5123.65 5288.05 3.21%
INDIA VIX 12.44 13.15 5.69%
NIFTY 100 10740.85 10792.60 0.48%
NIFTY SERV SECTOR 13337.05 13682.10 2.59%
NIFTY 50 10335.30 10370.25 0.34%
NIFTY INFRA 3581.85 3523.75 -1.62%
NIFTY PHARMA 9756.00 9318.50 -4.48%
NIFTY METAL 3876.55 3735.85 -3.63%
NIFTY PSU BANK 3784.25 3984.85 5.30%
NIFTY 500 9153.60 9254.30 1.10%
NIFTY 200 5639.15 5688.70 0.88%
NIFTY CONSUMPTION 4696.65 4862.00 3.52%
NIFTY BANK 25019.35 25846.40 3.31%
NIFTY ENERGY 14511.20 14319.25 -1.32%
Global Indices:
Index NameAs on
31-Oct-17As on
28-Nov-17%
Change
Nikkei 225 22011.61 22486.24 2.16%
Nasdaq 6727.67 6912.36 2.75%
BEL-20 4096.38 3985.66 -2.70%
Taiwan Weighted 10793.80 10707.07 -0.80%
Hang Seng 28245.54 29680.85 5.08%
S&P 500 2575.26 2627.04 2.01%
Dow Jones 23377.24 23836.71 1.97%
NYSE 12341.02 12520.23 1.45%
All Ordinaries 5976.40 6066.73 1.51%
CAC 40 5503.29 5390.48 -2.05%
Straits Times 3374.08 3442.35 2.02%
Bovespa 74308.00 74139.72 -0.23%
FTSE 100 7493.10 7460.65 -0.43%
DisclaimerThe information and views presented in this report are prepared by Karvy Stock Broking Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Stock Broking nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document.
This report is intended for a restricted audience and we are not soliciting any action based on it.
For more information on MUTUAL FUNDS call1800 425 8282 or contact your nearest Karvy branch.
Research TeamPF/MFNL/11122017/47
Ankit ChoradiaE-mail : [email protected]
Phone : 040 3321 7132
Production: Naga Babu K
14