KARVY’s

November 2019

INVESTOR JOURNAL

www.karvyvalue.com

What’s Inside

KARVY’sINVESTOR JOURNAL

Fund of the MonthMirae Asset Large Cap Fund-Reg(G)

The investment objective of the scheme is to generate long term capital appreciation...Nov, 2019

Market ReviewPage 01

Karvy Investment InsightPage 03

Fund of The MonthPage 04

Readers CornerPage 05

Story of The MonthPage 06

SIP PerformancePage 07

Category Average ReturnsPage 08

Fixed Deposits SchemesPage 09

Equity Funds PerformancePage 10

Debt Funds PerformancePage 12

Global Markets at a GlancePage 13

Indices WatchPage 14

Highlights of the Month » The mutual fund industry’s asset under

management (AUM) fell by 3.8% from Rs. 25.48 lakh crore in August 2019 to Rs. 24.50 lakh crore in September 2019, according to data published by the Association of Mutual Funds in India.

» In September 2019, systematic investment plans (SIPs) collection slightly grew from Rs. 8,231 crore in August 2019 by 0.4% to Rs. 8,263 crore.

» Liquid funds witnessed a net outflow of Rs.1,40,731 crore during the month September 2019 as against a net inflow of Rs. 79,428 crore in the month of August 2019.

» Hybrid Funds witnessed a net inflow of Rs. 2,027 crore in the month September 2019 compared to net inflow of Rs. 4,946 crore in the month of August 2019. This was mainly due to Aggressive hybrid funds as these funds witnessed net out flow of Rs. 1,930 crores.

» Net inflows into equity mutual funds stood at Rs.6,609 crore in September 2019 as against Rs.9,152 crore in the month of August 2019, This is due to low inflows in to ELSS, Focused, Value & Small cap funds.

» The mutual fund industry as a whole saw a net outflow of Rs. 1,51,790 crore in September 2019 compared with a net inflow of Rs. 1,02,538 crore in August 2019. This outflow was mainly led by liquid funds and other debt oriented funds.

Page 04

INVESTOR JOURNALNov, 2019

Market Review

Exports: » Exports in September 2019 amounted to USD 26.03 billion, compared to USD 27.87 billion in September 2018, with a negative growth of 6.57%.

» Electronic Goods (33.11%); Spices (28.44%); Mica, Coal & Other Ores, Minerals including processed minerals (16.67%);Ceramic products & glassware (11.1%) and Drugs & Pharmaceuticals (8.72%) showed a high positive export growth over the corresponding month of last year.

» In September 2019, exports of non-petroleum and non gems and jewelry amounted to USD 19 billion, compared with USD 19.84 billion in September 2018, showing a negative growth of 4.2%.

» For the period April-September 2019-20, the cumulative value of exports amounted to USD 159.57 billion compared to USD billion for the period April-September 2018-19, recording a negative growth of 1.53% in dollar terms.

Imports: » Imports were USD 36.89 billion in September 2019, which was 13.85% lower in dollar terms compared to imports in September 2018 of USD 42.82 billion.

» Coal and Coke & Briquettes, etc. (-23.96%); Organic & Inorganic Chemicals (-16.21%); Petroleum, Crude & products (-18.33%) and Electronic goods (-0.14%) showed a negative growth in September 2019 over the corresponding month of last year.

» For the period April-September 2019-20, the cumulative value of imports amounted to USD 243.28 billion compared to USD 261.63 billion for the period April-September 2018-19, recording a negative growth of 7.01% in dollar terms.

Crude Oil and Non-Oil Imports: » Oil imports were USD 8.98 billion

in September 2019, down 18.33% in

dollar terms from USD 10.99 billion in September 2018.

» Non-oil imports were estimated at USD 27.91 billion in September 2019, down 12.30% in dollar terms from USD 31.83 billion in September 2018.

Trade Balance: » The September 2019 trade deficit was estimated at USD 10.86 billion compared to the September 2018 deficit of USD 14.95 billion.

» Taking merchandise and services together, overall trade deficit for April-September 2019-20* is estimated at USD 44.95 billion as compared to USD 50.16 billion in April-September 2018-19.

*Note: The latest data for services sector released by RBI is for June 2019. The data for September 2019 is an estimation, which will be revised based on RBI’s subsequent release.

CPI Inflation:In September 2019, general CPI inflation was inched up to 3.99%, compared to upwardly revised 3.29% in August 2019. It was the highest inflation rate since July last year, as food prices rose to an over 3-year high.

WPI Inflation:In September 2019, wholesale prices in India rose by 0.33%, compared to 1.08% in the previous month. Since June 2016, it was the lowest wholesale rate, primarily due to cost of food rose at a slower rate and there was a decline in prices of both manufactured products and fuel.

IIP:India’s industrial production growth in August 2019 fell 1.1% from a upward revision of 4.6% in the previous month. It was the sharpest decline in industrial output since February 2013, as production dropped in manufacturing (-1.2 percent compared to 4.5 percent in July) and electricity production (-0.9 percent compared to 4.8 percent). Additionally, mining output rose 0.1 percent, slowing from a 4.8 percent increase in the prior month.

Apart from FII and MF activity, Key domestic data released in the month of October were:

1

Indian markets exhibited strong gains in October month. BSE Sensex and Nifty 50 gave a return of 3.78% and 3.51% respectively during the month. Among the BSE sectoral indices, S&P BSE Auto Index was the top performers with 13.03%. RBI has cut repo rate by a 25bps to 5.15% from 5.40% to boost the demand and private consumption in the economy.The mutual fund industry as a whole saw a net outflow of Rs. 1,51,790 crore in September 2019 compared with a net inflow of Rs. 1,02,538 crore in August 2019. This outflow was mainly led by liquid funds and other debt oriented funds. Systematic investment plans (SIPs) collection stood at 8,263 crore. Net inflows into equity mutual funds stood at Rs.6,609 crore in September 2019 as against Rs.9,152 crore in the month of August 2019, This is due to low inflows in to ELSS, Focused, Value & Small cap funds. Foreign portfolio investors (FPIs) infused a net amount of Rs 12,367 crore into equity and pumped a net amount of Rs 3,669 crore in the debt segment, resulting in a total net inflow flow of Rs 16,037 crore during October 2019.

INVESTOR JOURNALNov, 2019

S&P BSE SENSEX

Date Close Price Points Diff %age Change

30-Sep-19 38,667 - -

7-Oct-19 37,532 -1135 -2.9%

14-Oct-19 38,214 682 1.8%

22-Oct-19 38,964 749 2.0%

31-Oct-19 40,129 1165 3.0%

Overall Change for the month 3.78%

NIFTY 50

Date Close Price Points Diff %age Change

30-Sep-19 11,474 - -

7-Oct-19 11,126 -348.05 -3.0%

14-Oct-19 11,341 214.75 1.9%

22-Oct-19 11,588 247.20 2.2%

31-Oct-19 11,877 289.10 2.5%

Overall Change for the month 3.51%

Sensex & Nifty: (Month Between 30-Sept-2019 to 31-Oct-2019)

MF Activity: (Month Between 01-Oct-2019 to 30-Oct-2019)

Equity

Date Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

7-Oct-19 3,388 2,744 644

14-Oct-19 2,883 2,488 396

22-Oct-19 4,055 4,725 -670

30-Oct-19 756 695 61

Total 55,110.5 49,670.3 5,440.2

Debt

Date Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

7-Oct-19 5,054 6,014 -960

14-Oct-19 4,310 2,938 1,372

22-Oct-19 4,869 2,957 1,912

30-Oct-19 1,377 1,011 366

Total 113,871.3 76,871.0 37,000.3

2

FII Activity: (Month Between 01-Oct-2019 to 30-Oct-2019)

Equity

Date Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

7-Oct-19 5,130 6,008 -878

14-Oct-19 4,326 4,895 -568

22-Oct-19 5,509 5,401 108

30-Oct-19 8,088 6,568 1,520

Total 118,335.13 105,967.14 12,367.99

Debt

Date Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)

7-Oct-19 1,842 1,069 773

14-Oct-19 2,044 844 1,201

22-Oct-19 1,144 825 319

30-Oct-19 2,976 959 2,018

Total 28,329.17 24,659.56 3,669.61

-----------------------------------------------------------------------------------------------------------------------------------------------------------Source : ACE MF

NOTE:This data changes frequently on SEBI websites, So this data may be different when compared with SEBI

INVESTOR JOURNALNov, 2019

Karvy Investment Insight

Peace of mind and Wealth Creation ideas for long term

Karvy Insights brings to you investment wisdom to help you make sound investment decisions to reach your goals faster. These inputs may not help you become wealthy within a short span of time, but they would definitely bring you peace of mind and act as a roadmap for your financial journey.

3

WHAT IS INFLATION AND HOW DOES IT AFFECT YOU?----------------------------------------------------------------------------------------------------------------------------------------------------------

Do your parents always talk about how much cheaper everything was in their day? Remember the time when 1 litre of milk used to cost just Rs 9. And today it is close to Rs 60!

The rise in the prices of goods and services and, subsequently, the fall in the purchasing power of each rupee is called inflation. As inflation rises, every rupee will buy a lower quantity of goods.

Inflation is one of the main factors that reduce the value of your money over time. It means that the money you have at the beginning of the year will get you lesser goods and services at the end of the year. As the prices of even basic goods go up over time and during periods of high inflation, even if you carry on with your normal life – eating the same food, travelling to the same places, etc. – either you need to buy smaller quantities cut down on the total items you purchase or end up spending more.

To combat inflation, you must avoid keeping your money idle (in cash) or in your savings account, which offers negligible interest in real terms. Instead, you must invest your money in investment options where the returns from the investments are higher than the inflation rate.

Investing wisely will not only help you to overcome the problem of inflation, it will also help you achieve your financial goals successfully.

Let’s understand the impact of inflation on saving and investing with an example. You tend to park all your money in a bank savings account that earns 4% interest per annum. Your friend Rahul, on the other hand, invests his money actively and is able to generate an average return of 12% interest per annum. Who do you think will be able to counter the impact of inflation better over a long period? Naturally, Rahul will be far better off than you in terms of dealing with inflation and building wealth.

At the end of the day, who would you rather be? Someone who barely increases the value of your

money or the smarter someone who makes smart investment choices and manages to create wealth out of it too? The choice is yours!

Before we end this, a few concepts of inflation must also be reviewed in its alternative forms:

DeflationWhen the general level of prices is falling. This is the opposite of inflation.

HyperinflationUnusually rapid inflation. In extreme cases, this can lead to the breakdown of a nation’s monetary system. One of the most notable periods of hyperinflation occurred in Zimbabwe in the late 1990s and continues to this day. At the peak of hyperinflation, it is reported that Zimbabwe had a 79.6 billion per cent rate of inflation!

StagflationThe combination of high unemployment and economic stagnation with inflation. This happened in industrialized countries during the 1970s, when a poor economy was combined with rising oil prices.

Key Takeaways

» Every rupee saved will buy a smaller quantity of a product or service tomorrow, because of inflation (rising prices).In September 2019, systematic investment plans (SIPs) collection slightly grew from Rs. 8,231 crore in August 2019 by 0.4% to Rs. 8,263 crore.

» Even if you are aiming to simply retain your standard of living, with each passing year, you will be spending more money.

» Investing is the best tool to help you beat inflation over the long term. It ensures that your money works hard to create even more money and helps you to maintain your standard of living.

Source : DSP AMC

INVESTOR JOURNALNov, 2019

4

‘Tweets’ of the Month

Fund of The Month

Mirae Asset Large Cap Fund-Reg(G)

Investment Objective:

The investment objective of the scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities by predominantly investing in equities of large cap companies.

Portfolio:

Top 10 Companies Holdings

Name %age

HDFC Bank Ltd. 9.4

ICICI Bank Ltd. 6.6

Reliance Industries Ltd. 6.1

ITC Ltd. 4.4

Axis Bank Ltd. 4.4

State Bank Of India 4.3

Larsen & Toubro Ltd. 4.1

Infosys Ltd. 3.7

Tata Consultancy Services Ltd. 3.4

Kotak Mahindra Bank Ltd. 2.6

Top 10 Sector Wise Holding

Industry Name (%)

Bank - Private 25.8

Refineries 8.4

IT - Software 8.1

Pharmaceuticals & Drugs 6.3

Cigarettes/Tobacco 4.4

Bank - Public 4.3

Engineering - Construction 4.1

Automobiles - Passenger Cars 3.2

Household & Personal Products 3.1

Power Generation/Distribution 3.0

To read the full Information, Click Here

Indicates an increase or decrease or no change in holding since last profile. Indicates an increase or decrease in holding since last portfolio.

INVEST HERESource : ACE MF

90% of finance is:

1) Spend less than you make

2) Save the diference

3)Invest

4) Diversify

5) Low cost

6) PatienceThat’s the complete list.

- The Motley Fool @themotleyfool

When valuations peak - always be ready for long periods of low returns. It’s happened

in all markets. Increase focus on asset allocation in such phases. This is not a comment on today s prices

but a useful lesson for all investing across asset classes Source - @jasonzweigwsj

- Kalpen Parekh @KalpenParekh

If one wants CAGR he needs to stop worrying over monthly portfolio statements, accept

market dips, show contrarian conviction and have loads of patience.

- Shyam Sekhar @shyamsek

INVESTOR JOURNALNov, 2019

Readers Corner

5

LIKE US ON FACEBOOK

Source : UTI AMC

The financial market does not move up in a linear fashion. It is volatile, and it goes up and down. So, if you sell your Funds at the first hint of a market downturn, you could end up making a loss. In other words, you are not utilizing the market downfall in the best way possible.

As Warren Buffett once said: Be fearful when others are greedy and greedy when others are fearful.

Ideally, the best way to maximize your returns is to sell at market ‘peaks’ and buy at market ‘lows’. But it is not possible to consistently guess the peaks and lows. So how about avoiding the guessing game altogether.

This is possible by investing regularly in Mutual Funds through Systematic Investment Plans (SIPs). Here, you just need to invest a fixed amount of money each month in a Fund of your choice. When the Fund value rises, the Net Asset Value (NAV) of your fund increases. And when the Fund value falls, you can purchase more units of the Fund at the same price. This is known as Rupee Cost Averaging (RCA).

In the long term, this strategy averages the cost of investing and ensures that you don’t have to time the market. In other words, a market downturn can also have a positive outcome.

Sometime bad is good

INVESTOR JOURNALNov, 2019

Story of The Month

During a research experiment a marine biologist placed a shark into a large holding tank and then released several small bait fish into the tank.

As you would expect, the shark quickly swam around the tank, attacked and ate the smaller fish.

The marine biologist then inserted a strong piece of clear fiberglass into the tank, creating two separate partitions. She then put the shark on one side of the fiberglass and a new set of bait fish on the other.

Again, the shark quickly attacked. This time, however, the shark slammed into the fiberglass divider and bounced off.Undeterred, the shark kept repeating this behavior every few

THE SHARK BAIT

MORAL OF THE STORY:

Courtesy : Karvy Learning Center

Direct Dil Se…

6

Many of us, after experiencing setbacks and failures, emotionally give up and stop trying. Like the shark in the story, we believe that because we were unsuccessful in the past, we will always be unsuccessful. In other words, we continue to see a barrier in our heads, even when no ‘real’

barrier exists between where we are and where we want to go.

minutes to no avail. Meanwhile, the bait fish swam around unharmed in the second partition. Eventually, about an hour into the experiment, the shark gave up.

This experiment was repeated several dozen times over the next few weeks. Each time, the shark got less aggressive and made fewer attempts to attack the bait fish, until eventually the shark got tired of hitting the fiberglass divider and simply stopped attacking altogether.

The marine biologist then removed the fiberglass divider, but the shark didn’t attack. The shark was trained to believe a barrier existed between it and the bait fish, so the bait fish swam wherever they wished, free from harm.

INVESTOR JOURNALNov, 2019

Schemes(Monthly SIP of Rs. 5000)

Current NAV (`)

Present value

(Rs)

3 Year SIP Present value

(Rs)

5 Year SIP

Rs.180000 Rs.300000

Profit-SIP XIRR(%) Profit-SIP XIRR(%)

Large CapAxis Bluechip Fund(G) 31.49 225769.28 45769.28 16.12 422530.88 122530.88 14.10

Mirae Asset Large Cap Fund-Reg(G) 53.19 209213.53 29213.53 10.56 404711.11 104711.11 12.30

Canara Rob Bluechip Equity Fund-Reg(G) 26.53 212916.92 32916.92 11.83 395819.95 95819.95 11.38

Edelweiss Large Cap Fund(G) 37.22 207229.57 27229.57 9.88 383352.11 83352.11 10.05

ICICI Pru Bluechip Fund(G) 43.42 201739.06 21739.06 7.96 379870.83 79870.83 9.68

Large & Mid CapMirae Asset Emerging Bluechip-Reg(G) 55.99 209776.24 29776.24 10.76 426652.35 126652.35 14.50

Sundaram Large and Mid Cap Fund(G) 36.84 210836.32 30836.32 11.12 405647.34 105647.34 12.40

Invesco India Growth Opp Fund(G) 36.27 210644.43 30644.43 11.05 399156.28 99156.28 11.73

Edelweiss Large & Mid Cap Fund-Reg(G) 32.46 202402.93 22402.93 8.19 375559.95 75559.95 9.20

Tata Large & Mid Cap Fund(G) 213.88 203187.75 23187.75 8.47 374214.88 74214.88 9.06

Multi cap DSP Equity Fund-Reg(G) 42.43 210398.30 30398.30 10.97 395807.16 95807.16 11.38

Canara Rob Equity Diver Fund-Reg(G) 139.07 208119.50 28119.50 10.19 387238.32 87238.32 10.47

SBI Magnum Multicap Fund-Reg(G) 50.70 201917.04 21917.04 8.02 385482.88 85482.88 10.28

Motilal Oswal Multicap 35 Fund-Reg(G) 27.18 196648.66 16648.66 6.15 384460.48 84460.48 10.17

HDFC Equity Fund(G) 666.54 197821.08 17821.08 6.57 372900.89 72900.89 8.91

Mid Cap Axis Midcap Fund(G) 39.59 218633.81 38633.81 13.76 408266.62 108266.62 12.67

DSP Midcap Fund-Reg(G) 56.20 193318.41 13318.41 4.95 374976.69 74976.69 9.14

Invesco India Midcap Fund(G) 49.05 193827.73 13827.73 5.13 364981.60 64981.60 8.02

Tata Mid Cap Growth Fund(G) 140.83 194371.06 14371.06 5.33 362100.68 62100.68 7.70

Nippon India Growth Fund(G) 1,105.48 188446.47 8446.47 3.16 354141.11 54141.11 6.78

Small Cap SBI Small Cap Fund-Reg(G) 53.45 196472.82 16472.82 6.09 399578.89 99578.89 11.77

HDFC Small Cap Fund-Reg(G) 39.55 179143.15 -856.85 -0.33 358314.38 58314.38 7.27

Nippon India Small Cap Fund(G) 38.41 177830.27 -2169.73 -0.83 357439.23 57439.23 7.16

Kotak Small Cap Fund(G) 71.35 179985.79 -14.21 -0.01 340424.14 40424.14 5.16

ICICI Pru Smallcap Fund(G) 25.17 180241.00 241.00 0.09 329209.78 29209.78 3.79

ELSS Axis Long Term Equity Fund(G) 49.28 220139.60 40139.60 14.26 413574.87 113574.87 13.20

DSP Tax Saver Fund-Reg(G) 50.98 205107.13 25107.13 9.14 392383.01 92383.01 11.02

Canara Rob Equity Tax Saver Fund-Reg(G) 67.39 207612.83 27612.83 10.01 384318.84 84318.84 10.16

LIC MF Tax Plan(G) 70.99 207557.21 27557.21 9.99 384109.47 84109.47 10.13

Invesco India Tax Plan(G) 52.97 203924.13 23924.13 8.73 383520.52 83520.52 10.07

Sector Invesco India Financial Services Fund(G) 60.14 214826.76 34826.76 12.48 425734.19 125734.19 14.41

ICICI Pru Banking & Fin Serv Fund(G) 65.98 204400.23 24400.23 8.89 417175.99 117175.99 13.57

SBI Technology Opp Fund-Reg(G) 65.32 216105.07 36105.07 12.91 385761.79 85761.79 10.31

ICICI Pru Technology Fund(G) 57.31 208795.94 28795.94 10.42 377883.00 77883.00 9.46

Franklin India Technology Fund(G) 157.34 204772.13 24772.13 9.02 370482.00 70482.00 8.64

Index HDFC Index Fund-Sensex(G) 357.21 215113.21 35113.21 12.58 400358.27 100358.27 11.85

Tata Index Fund-Sensex Plan(G) 99.15 214749.95 34749.95 12.45 396851.41 96851.41 11.49

Nippon India Index Fund - Sensex Plan(G) 19.76 212907.20 32907.20 11.83 392186.18 92186.18 11.00

UTI Nifty Index Fund-Reg(G) 77.99 209871.27 29871.27 10.79 390433.19 90433.19 10.81

LIC MF Index Fund-Sensex Plan(G) 74.40 212188.55 32188.55 11.58 388851.94 88851.94 10.64

As on 31st Oct’19 7Source : ACE MF

SIP Performance

INVESTOR JOURNALNov, 2019

Category Average Returns

Category Sub Category1 Week Return

1 Month Return

6 Month Return

1 Year Return

3 Year Return

5 Year Return

Since Inception

Market Cap

Large-cap 2.48 2.99 2.42 11.24 8.61 8.33 10.05

Large and mid cap 2.45 3.52 3.14 11.51 8.27 9.53 13.26

Mid-cap 2.83 3.28 -0.17 5.24 5.41 9.13 7.86

Multi-cap 2.07 3.28 3.09 11.07 7.70 8.61 8.64

Small-cap 2.44 2.62 -2.84 2.56 2.83 8.51 3.54

Sector Funds

Banks & Financial Services 2.23 3.07 4.06 21.51 12.20 12.12 15.20

Consumption 1.92 4.48 5.62 11.91 9.34 9.50 9.44

Energy & Power 2.27 3.77 -0.07 6.83 6.20 8.47 12.49

Infrastructure 2.55 2.42 -0.91 8.09 4.55 5.83 6.06Pharma & Health Care 2.46 5.28 -0.61 -1.35 -0.60 4.06 6.00

Service Industry 2.14 3.69 4.66 10.26 4.78 7.16 16.25

TECk 4.56 -2.24 -6.37 -0.58 13.52 7.72 13.47

Speciality

Contra 2.37 3.08 1.38 10.81 11.70 10.57 12.96

Dividend Yield 3.04 3.12 0.32 5.33 6.39 6.38 12.22

Global 70.58 36.06 7.39 9.65 11.53 7.52 9.29

MNC 3.40 3.82 4.93 15.35 9.45 13.20 10.65

Equity Exchange Traded Funds 3.13 3.94 1.22 13.22 11.64 6.42 9.58

Equity Linked Savings Scheme 2.55 3.33 1.49 9.70 8.08 8.95 9.07

Equity Savings Scheme 1.12 1.67 2.59 7.58 5.80 6.61 6.55

Focused Fund 2.81 4.33 3.93 13.99 9.10 9.31 9.85

Index

Nifty 2.59 3.67 1.30 14.09 11.46 7.60 11.15

Nifty Next 50 2.41 4.38 3.54 8.27 6.92 9.92 7.96

Sensex 2.82 3.79 3.39 16.91 13.10 7.86 12.57

Others 3.02 4.18 1.47 7.86 7.47 6.21 8.62

Aggressive Hybrid Fund 1.89 2.89 2.58 10.19 6.59 7.45 10.70

Balanced Advantage 1.82 2.32 3.53 10.62 8.10 8.22 10.71

Dynamic Asset Allocation 1.12 1.99 2.62 7.26 6.61 6.45 8.06

Multi Asset Allocation 1.92 2.89 5.85 11.12 6.73 7.16 10.58

Banking and PSU Fund 20.55 15.41 12.76 11.14 7.57 8.11 8.59

Corporate Bond 18.79 14.69 4.40 6.92 5.39 6.87 6.61

Credit Risk Fund 0.14 7.59 -3.63 1.30 3.91 6.82 5.84

Dynamic Bond 12.70 9.23 9.72 9.52 5.97 7.71 7.72

GiltLong Term 18.47 9.88 19.20 16.56 9.17 10.00 8.63Short and Medium term 14.45 9.42 15.71 13.64 6.85 8.84 8.38

Floating Rate 11.16 9.89 9.02 8.92 7.26 7.73 7.70

Liquid 5.25 5.38 6.01 6.61 6.59 7.14 7.11

Ultra Short Term Plan 3.08 6.75 6.85 7.08 6.53 7.31 7.43

Gold ETFs 42.15 14.29 41.65 20.14 7.26 7.17 6.01

Gold FOFs 41.57 21.70 43.10 20.66 5.37 6.17 2.90

Note: Debt Mutual funds & Golds funds are annualised for less than 1 year returns

Returns are as on 31st Oct’198

Source : ACE MF

INVESTOR JOURNALNov, 2019

Fixed Deposits Schemes

9

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.

8.70%

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.

7.77%

ICICI Home Finance Ltd

CRISIL FAAA/Stable, CARE AAA/Stable, ICRA MAAA/Stable

ICICI Home Finance Company Limited is one of the leaders in the Indian mortgage finance and realty space.

8.50%

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.

7.85%

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.

8.50%

PNB Housing Finance Ltd.

FAAA/Stable by CRISIL, AAA by CARE

PNB 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.

8.60%

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.

9.25%

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

9.27%

Sundaram Home Finance Ltd.

FAAA/STABLE by CRISIL

Sundaram BNP Paribas Home Finance combines its expertise in Home Finance with the Service Orientiation of its promoter Sundaram Finance.

8.50%

* highest rate including additional interest for Senior citizens, employees etc. wherever applicable

Current/Forthcoming NCDs:

S.No Company Lead Managers

1 ECL Finance LimitedEdelweiss Financial, Axis Bank, IIFL Holdings and

Trust Investment AdvisorsKnow More

INVESTOR JOURNALNov, 2019

Equity Funds Performance

Scheme NameLatest

NAV (`)

Absolute(%) CAGR(%)

1 Year 3 Year 5 Year SINCE INCEPTION

Large Cap

Mirae Asset Large Cap Fund-Reg(G) 53.19 15.14 12.41 12.03 15.52

Axis Bluechip Fund(G) 31.49 25.11 15.69 11.07 12.38

Canara Rob Bluechip Equity Fund-Reg(G) 26.53 18.28 11.58 9.51 11.18

Nippon India Large Cap Fund(G) 35.04 9.31 10.80 9.28 10.79

ICICI Pru Bluechip Fund(G) 43.42 10.54 10.36 8.90 13.69

Multi Cap

Motilal Oswal Multicap 35 Fund-Reg(G) 27.18 16.52 9.34 14.19 19.89

Parag Parikh Long Term Equity Fund-Reg(G) 26.29 14.50 11.90 12.12 16.22

SBI Magnum Multicap Fund-Reg(G) 50.70 17.08 9.60 11.95 12.17

DSP Equity Fund-Reg(G) 42.43 23.09 10.58 10.30 12.35

Canara Rob Equity Diver Fund-Reg(G) 139.07 15.44 11.65 9.01 17.72

Large & Mid Cap

Mirae Asset Emerging Bluechip-Reg(G) 55.99 17.10 12.69 16.78 20.31

Canara Rob Emerg Equities Fund-Reg(G) 94.64 10.66 9.34 13.36 16.58

Sundaram Large and Mid Cap Fund(G) 36.84 16.89 12.61 12.22 10.83

Invesco India Growth Opp Fund(G) 36.27 16.25 13.00 11.32 11.10

DSP Equity Opportunities Fund-Reg(G) 230.65 15.03 8.87 11.08 17.49

Mid Cap

DSP Midcap Fund-Reg(G) 56.20 12.51 6.87 12.08 14.24

Axis Midcap Fund(G) 39.59 17.55 13.28 11.72 17.13

L&T Midcap Fund-Reg(G) 132.02 3.76 7.05 11.71 18.46

Franklin India Prima Fund(G) 959.21 8.95 5.95 10.86 19.24

Tata Mid Cap Growth Fund(G) 140.83 15.08 7.34 10.33 11.00

Small Cap

Axis Small Cap Fund-Reg(G) 31.55 23.68 11.05 12.48 21.41

Nippon India Small Cap Fund(G) 38.41 -1.21 6.16 11.10 15.88

HDFC Small Cap Fund-Reg(G) 39.55 -5.24 7.94 10.50 12.60

Franklin India Smaller Cos Fund(G) 49.67 -1.74 0.76 8.04 12.31

ICICI Pru Smallcap Fund(G) 25.17 12.02 3.48 6.19 7.97

Performance as on 31st Oct’19; Funds have been arranged on the basis of 5 years performance

10Source : ACE MF

INVESTOR JOURNALNov, 2019

Equity Funds Performance

Scheme NameLatest

NAV (`)

Absolute (%) CAGR (%)

1 Year 3 Year 5 Year SINCE INCEPTION

ELSS

Axis Long Term Equity Fund(G) 49.28 22.95 13.46 12.71 17.59

DSP Tax Saver Fund-Reg(G) 50.98 19.25 9.54 11.40 13.58

JM Tax Gain Fund(G) 18.45 22.29 12.30 11.05 5.42

LIC MF Tax Plan(G) 70.99 16.33 10.73 9.47 9.33

Mirae Asset Tax Saver Fund-Reg(G) 18.54 16.23 14.12 - 17.41

Sector

ICICI Pru Banking & Fin Serv Fund(G) 65.98 17.74 12.05 14.44 18.35

Invesco India Financial Services Fund(G) 60.14 23.41 14.84 14.39 17.20

Mirae Asset Great Consumer Fund-Reg(G) 37.33 17.92 14.72 12.95 16.56

ICICI Pru FMCG Fund(G) 259.02 15.45 13.70 12.58 17.11

Tata Banking & Financial Services Fund-Reg(G) 20.21 30.09 15.05 - 20.09

Thematic

Aditya Birla SL India GenNext Fund(G) 89.96 20.32 11.53 14.04 16.67

Canara Rob Consumer Trends Fund-Reg(G) 42.90 24.24 13.13 13.61 15.45

Aditya Birla SL MNC Fund-Reg(G) 801.13 15.35 9.45 13.20 16.89

ICICI Pru US Bluechip Equity Fund(G) 29.93 11.97 17.47 11.71 16.15

SBI Magnum Equity ESG Fund-Reg(G) 111.67 19.28 9.93 9.86 14.46

Value

JM Value Fund(G) 33.53 16.31 9.22 11.29 15.84

Tata Equity P/E Fund(G) 137.03 9.62 8.75 11.22 18.60

L&T India Value Fund-Reg(G) 35.53 5.05 5.87 10.98 13.78

Nippon India Value Fund(G) 74.45 10.38 8.41 9.05 14.95

HDFC Capital Builder Value Fund(G) 280.80 3.57 7.04 8.23 13.82

Index

HDFC Index Fund-Sensex(G) 357.21 17.40 13.65 8.59 14.93

UTI Nifty Index Fund-Reg(G) 77.99 15.65 12.28 8.36 11.01

HDFC Index Fund-NIFTY 50 Plan(G) 108.55 15.39 12.15 8.31 14.57

IDFC Nifty Fund-Reg(G) 24.66 15.26 12.17 8.26 9.95

Tata Index Fund-Sensex Plan(G) 99.15 17.22 13.35 7.98 15.81

Performance as on 31st Oct’19; Funds have been arranged on the basis of 5 years performance11

Source : ACE MF

INVESTOR JOURNALNov, 2019

Debt Funds Performance

Scheme NameLatest

NAV (`)Absolute(%) CAGR(%)

1 Year 3 Year 5 Year SINCE INCEPTION

Gilt Funds

SBI Magnum Constant Maturity Fund(G) 44.39 15.90 10.03 10.54 8.22

IDFC G-Sec-Constant Maturity Plan-Reg(G) 31.46 18.94 10.85 10.51 6.71

Nippon India Gilt Securities Fund(G) 27.09 15.70 8.52 10.17 9.31

ICICI Pru Constant Maturity Gilt Fund(G) 16.70 16.88 8.74 10.15 10.50

DSP G-Sec Fund-Reg(G) 64.98 15.88 7.69 9.31 9.76

Liquid Funds Latest NAV (`) 1 Month 3 Months 6 Months 1 Year

Nippon India Liquid Fund(G) 4716.67 0.50 1.47 3.30 7.14

Aditya Birla SL Liquid Fund(G) 310.68 0.48 1.47 3.31 7.12

Axis Liquid Fund(G) 2144.20 0.49 1.46 3.23 7.05

ICICI Pru Liquid Fund(G) 285.96 0.49 1.45 3.23 7.03

HDFC Liquid Fund(G) 3798.97 0.48 1.44 3.20 6.96

Scheme NameLatest

NAV (`)Absolute(%) CAGR(%)

1 Year 3 Year 5 Year SINCE INCEPTION

Balanced

DSP Equity & Bond Fund-Reg(G) 162.41 18.51 8.21 10.41 14.61

Canara Rob Equity Hybrid Fund-Reg(G) 165.29 14.00 9.08 9.93 11.05

ICICI Pru Equity & Debt Fund(G) 136.47 8.47 8.50 9.50 13.96

ICICI Pru Balanced Advantage Fund(G) 37.47 13.17 8.82 9.14 10.83

HDFC Balanced Advantage Fund(G) 200.03 8.94 10.16 8.95 16.94

Conservative Hybrid

ICICI Pru Regular Savings Fund(G) 44.67 11.12 8.27 9.39 10.07

IDFC Regular Savings Fund-Reg(G) 22.52 10.58 6.12 7.57 8.74

Franklin India Debt Hybrid Fund(G) 57.97 9.91 5.54 7.43 9.64

Canara Rob Conservative Hybrid Fund-Reg(G) 59.59 12.58 6.59 6.99 8.51

L&T Conservative Hybrid Fund-Reg(G) 36.50 10.85 6.01 6.93 6.92

Arbitrage Latest NAV (`) 1 Month 3 Months 6 Months 1 Year

DSP Arbitrage Fund-Reg(G) 11.15 0.64 1.42 3.40 6.59

Aditya Birla SL Arbitrage Fund(G) 19.68 0.65 1.49 3.27 6.31

Axis Arbitrage Fund-Reg(G) 13.88 0.73 1.47 3.17 6.19

HDFC Arbitrage-WP(G) 22.79 0.66 1.44 3.17 6.10

ICICI Pru Equity-Arbitrage Fund(G) 25.34 0.65 1.40 3.17 6.10

Gold-FOF Latest NAV (`) 1 Year 3 Years 5 Years SINCE INCEPTION

Aditya Birla SL Gold Fund(G) 12.25 20.79 6.27 6.53 2.70

Kotak Gold Fund(G) 16.11 19.69 6.33 6.36 5.69

Invesco India Gold Fund(G) 11.78 18.65 6.82 6.29 2.09

HDFC Gold Fund(G) 12.43 19.32 6.60 6.29 2.76

Canara Rob Gold Savings Fund-Reg(G) 11.27 17.00 6.80 6.09 1.64

Performance as on 31st Oct’19

Hybrid Funds Performance

12Source : ACE MF

INVESTOR JOURNALNov, 2019

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 %

Source: Bloomberg, Karvy Research

11150

11200

11250

11300

11350

11400

1-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

70.85

70.95

71.05

71.15

71.25

1-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

6.45

6.50

6.55

6.60

6.65

6.70

1-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

98.098.298.498.698.899.099.2

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

2,875

2,900

2,925

2,950

2,975

3,000

1-O

ct

2-O

ct

3-O

ct

4-O

ct

11-O

ct

1.501.551.601.651.701.751.80

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

3,350

3,400

3,450

3,500

3,550

3,600

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

1.0951.0971.0991.1011.1031.1051.107

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

-0.610

-0.560

-0.510

-0.460

-0.410

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

21,200

21,400

21,600

21,800

22,000

1-O

ct

2-O

ct

3-O

ct

4-O

ct

11-O

ct

106.5

107.0

107.5

108.0

108.5

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

-0.23

-0.21

-0.19

-0.17

-0.15

-0.13

2-O

ct

3-O

ct

4-O

ct

11-O

ct

14-O

ct

2,900

2,930

2,960

2,990

3,020

27-S

ep

30-S

ep

11-O

ct

14-O

ct

7.06

7.08

7.10

7.12

7.14

7.16

27-S

ep

30-S

ep

11-O

ct

14-O

ct

3.130

3.140

3.150

3.160

3.170

27-S

ep

30-S

ep

11-O

ct

14-O

ct

INVESTOR JOURNALNov, 2019

Indices Watch

Index NameAs on

30-Sep-19As on

31-Oct-19%

Change

S&P BSE 100 11,580.9 11,999.1 3.61%

S&P BSE 200 4,794.3 4,983.6 3.95%

S&P BSE 500 14,810.0 15,387.1 3.90%

S&P BSE AUTO Index 16,761.8 18,945.6 13.03%

S&P BSE BANKEX 32,889.1 33,924.8 3.15%

S&P BSE Capital Goods 18,695.3 18,823.1 0.68%

S&P BSE Consumer Durables 25,872.8 26,893.5 3.94%

S&P BSE DOLLEX 30 4,488.8 4,639.5 3.36%

S&P BSE FMCG 11,767.0 12,245.9 4.07%

S&P BSE GREENEX 2,693.2 2,814.9 4.52%

S&P BSE Health Care 12,493.5 13,229.1 5.89%

S&P BSE IT 15,669.9 15,392.0 -1.77%

S&P BSE METAL Index 9,085.7 9,305.5 2.42%

S&P BSE Mid-Cap 14,104.1 14,864.5 5.39%

S&P BSE O & G Index 14,642.1 15,734.8 7.46%

S&P BSE Power Index 1,934.4 1,986.6 2.70%

S&P BSE PSU 6,659.3 7,190.9 7.98%

S&P BSE Realty Index 1,978.0 2,063.0 4.29%

S&P BSE SENSEX 38,667.3 40,129.1 3.78%

S&P BSE Small-Cap 13,170.8 13,558.1 2.94%

S&P BSE TECk Index 7,654.0 7,461.8 -2.51%

Indian Indices:

Index NameAs on

30-Sep-19As on

31-Oct-19%

Change

NIFTY PHARMA 7,547.8 7,878.2 4.38%

INDIA VIX 15.9 16.3 2.57%

NIFTY IT 15,540.2 15,559.4 0.12%

NIFTY SERV SECTOR 16,166.7 16,472.3 1.89%

Nifty Financial Services 13,017.3 13,516.5 3.83%

NIFTY BANK 29,103.2 30,066.3 3.31%

NIFTY 50 11,474.5 11,877.5 3.51%

NIFTY FMCG 31,134.5 32,319.8 3.81%

NIFTY 100 11,613.3 12,037.3 3.65%

NIFTY CONSUMPTION 4,956.2 5,169.8 4.31%

NIFTY 200 5,914.9 6,138.9 3.79%

NIFTY MNC 13,471.4 14,196.3 5.38%

NIFTY 500 9,340.9 9,689.7 3.73%

NIFTY ENERGY 15,501.6 16,486.2 6.35%

Nifty 500 Shariah 2,967.9 3,043.6 2.55%

NIFTY DIV OPPS 50 2,564.9 2,628.0 2.46%

NIFTY AUTO 7,493.2 8,449.5 12.76%

Nifty Midcap 50 4,394.0 4,639.7 5.59%

NIFTY PSU BANK 2,294.1 2,506.3 9.25%

NIFTY MEDIA 1,800.0 1,786.8 -0.73%

NIFTY COMMODITIES 3,312.2 3,430.4 3.57%

NIFTY METAL 2,439.9 2,500.8 2.50%

NIFTY INFRA 3,208.4 3,322.6 3.56%

NIFTY PSE 3,243.7 3,449.1 6.33%

NIFTY REALTY 258.8 269.0 3.96%

Global Indices:

Index NameAs on

30-Sep-19As on

31-Oct-19%

Change

BEL-20 3,714 3,763 1.31%

Bovespa 104,745 107,220 2.36%

CAC 40 5,678 5,730 0.92%

DAX 12,428 12,867 3.53%

Dow Jones 26,917 27,046 0.48%

Hang Seng 26,092 26,907 3.12%

Nasdaq 7,999 8,292 3.66%

Nikkei 225 21,756 22,927 5.38%

NYSE 13,005 13,172 1.28%

S&P 500 2,977 3,038 2.04%

Straits Times 3,120 3,230 3.52%

Taiwan Weighted 10,830 11,359 4.89%

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.

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Production: Naga Babu K

14

Source : ACE MF