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Risk Grade –

Return Grade –

NAV –

Net Assets* –

Fundcard

ValueResearch w w w . v a l u e r e s e a r c h o n l i n e . c o m

* Quarterly Average

Below Average

Above Average

Rs. 227.95 as on Sep 21, 2012

HDFC Taxsaver

Value Research Fund Rating as on Aug 31, 2012

Rs. 3149.8 crore as on Jun 30, 2012

Open-end and Equity: Tax Planning

ValueResearch w w w . v a l u e r e s e a r c h o n l i n e . c o m

Volatility Measurements

Standard DeviationSharpe RatioBetaR-SquaredAlpha

Risk Analysis

EquityDebtCash

Composition (%)

Trailing Returns (%)

Year-to-Date3-Month6-Month1-Year2-Year3-Year5-Year7-Year10-YearReturn less than 1-year are absolute and over 1 year are annualised

Return Rank SIPFund Category Fund/Cat Return

Quarterly Returns (%)Q1 Q2 Q3 Q4 Year

Company Sector P/E YTD % Assets

Top Holdings

NAV (Rs)Total Return (%)+/-+/-Rank (Fund/Category)52 Week High (Rs)52 Week Low (Rs)Net Assets (Rs.Cr)Expense Ratio (%)

Rating:Risk:Return:

History

Total StocksAvg Mkt Cap (Rs.Cr)Portfolio P/B Ratio Portfolio P/E Ratio 3Y Earnings Growth (%)

Fund

Top 10 Sector Weights (%)

Portfolio Characteristics

Returns as on

Growth Blend ValueInvestment StyleFUND STYLE

Large Medium

Small

Capitalisation

Fund

(Rebased to 10,000)

30/36

Below AverageAbove Average

7.30

-8.43-2.68-3.47-4.21

0.0313.08

5.01-9.0523.6222.00

30.70

6.02

8.10

38.71

22.80

17.92

14.0014.80

35/37

28.506.60

19.4023.30

6.00

S&P CNXNifty

Nifty

Fund Performance Vs S&P CNX Nifty

S&P CNX NiftyS&P CNX 500

5.8715.29

-18.61

S&P CNX Nifty

25.2021.15

18.26

0.25

11.7030.6017.7042.6014.20

31.3010.3017.0017.6022.1020.2020.40

9.0712.0310.0312.58

0.79

15.1611.7411.08

9.428.12

9/35

5.094.384.30

3.22

27.56

35/37

18.1312.03

4.4913.09

1.374.607.90

5.99

16.83

Services

FMCGEnergyHealthcareEnergyEngineeringEnergyMetalsMetals

-41.9110.199.607.31

HealthcareFinancial

4.814.47

2002

13.0918.92

9.842.77

15/20-

-40.99

-

4.244.163.963.873.222.89

-8.2610.878.525.98

2.79

21.4819.3423.5829.48

2012

227.9518.28

-4.79-5.58

35/37229.37192.61

3149.79

1.85

----2.9015.71

2011

192.73-22.62

2.004.57

14/36

249.49189.27

2880.17

1.85

-22.62-7.54-11.471.09-6.49

Energy

2010

249.0726.42

8.47

12.295/37

261.19188.90

2937.39

1.89

26.42-0.6214.826.124.39

FMCG

2009

197.0299.07

23.3110.50

3/32197.02

83.662084.05

2.06

99.077.4824.9251.17-1.93

-51.55

2008

Communication

98.97

0.24

5.588/29

208.5887.54

943.56

1.94

-51.55-25.41-25.58 -16.82 4.93

FMCG

2007

39.44204.28

-15.33-23.0724/26

204.99

126.161646.64

2.14

Services

2006

34.12

146.51

-5.710.13

10/23149.87

96.98763.49

2.39

ITC

Others

2005

74.84109.23

38.5038.59

2/20110.22

59.18217.34

2.46

State Bank of India

2004

49.3862.48

38.70

31.52

2/1962.4835.7036.47

2.40

ICICI Bank

2003

121.0641.82

49.1622.92

6/1942.24

18.6444.18

2.50

InfosysTata Consultancy ServicesIpca LaboratoriesLarsen & ToubroTata Motors DVR

-

BPCL

5.52

-23.0722.9418.28

29.98

36/37

36.62

9/28

55.60

94.16

-6.1612.2355.5059.20

35

80.44-27.45

September 21, 2012, Portfolio related data as on August 31, 2012

3.62

3.88

-13.856.085.881.73

25/36

0.90

-0.844.566.218.79

Financial

FMCG

Energy

Financial

FMCG

Financial

Healthcare

Technology

Technology

Technology

Engineering

Healthcare

Metals

Diversified

Automobile

Automobile

Diversified

Energy2.512.412.402.33

HDFC Taxsaver

2.242.232.212.172.062.00

Britannia Inds.Oil IndiaCipla

5/19

NTPCBharat ElectronicsCoal IndiaTata SteelCarborundum UniversalDivi's LaboratoriesBank of Baroda

1.981.971.961.791.73

14.08

-

Petronet LNGGlaxo Consumer HealthcareBharti AirtelP&G Hygiene & Health Care

0.32

eClerx ServicesOthers

2/18

2012

2011

3.10

201020092008

29778

7.963.303.255.90

ValueResearch w w w . v a l u e r e s e a r c h o n l i n e . c o m

Fund Objective & StrategyValue Research AnalysisBest Performance

AMC :Website :Registrar :Launch :Benchmark :Plans (NAV) :

Min Investment (Rs.) :Min SIP Investment (Rs.) :Exit Load :

YEAR

NAV

QUARTER

MONTH

Worst PerformanceYEAR

QUARTER

MONTH

All the graphs are rebased to 10,000

Portfolio Manager

Investment Information

When this fund hit a roadblock in 2007, questions abounded as to theend of its lucky streak. In 2007, the fund returned 39.44 per cent whilethe best performer in this category delivered 112 per cent! The only yearit has ever underperformed its benchmark. But since then the fund hasdelivered top quartile annual performances.The fund tends to take a top-down approach before going for potentiallyoutperforming stocks. But in this strategy, it could well deviate from thecurrent market position. With no bias towards any market cap, this fundis a great multi-cap offering with a long history of impressive performance.The rising asset base is testimony to this fact. Kulkarni has managed itsmartly by increasing the number of holdings. As on January 2012, thenumber of stocks in the portfolio stood at 63.

Since May 2012

S&P CNX Nifty

The scheme seeks capitalappreciation with at least 80per cent exposure to equities,FCDs, preference shares andbonds of companies.

Computer Age Management Services Ltd.500

500HDFC Asset Management Company Ltdwww.hdfcfund.com

Nil

S&P CNX 500

272.59%

78.92%

34.19%

-55.57%

-39.75%

-32.30%

March 1996

Since Nov 2006Vinay R. Kulkarni

Dividend (51.80) , Growth (227.95)

Rakesh Vyas

Birla Sun Life Frontline Equity Fund

Volatility Measurements

Standard Deviation 28.32

Sharpe Ratio 0.21

Beta 0.88

R-Squared 0.96

Alpha 4.77

Risk Analysis

Equity 71.37Debt 18.46Cash 10.17

Composition (%)

Trailing Returns (%)

Year-to-Date -48.50 -55.29 34/192 -51.79 -40.183-Month -18.97 -22.88 41/213 -24.53 -0.866-Month -20.78 -27.09 38/209 -26.76 -33.431-Year -48.50 -55.29 34/192 -51.79 -40.182-Year -8.59 -16.06 22/158 -13.63 -24.193-Year 7.27 -1.39 12/134 1.42 -9.435-Year 16.27 12.91 19/67 9.50 9.907-Year - - - - -10-Year - - - - -Return less than 1-year are absolute and over 1 year are annualised

Return Rank S&P SIPFund Category Fund/Cat CNX Nifty Return

Quarterly Returns (%)

2008 -24.24 -14.18 -2.23 -18.97 -48.502007 -1.42 14.53 16.01 23.88 62.262006 19.42 -7.25 19.39 11.70 47.702005 -0.04 6.52 23.26 8.02 41.772004 0.71 -13.50 15.08 21.15 21.46

Q1 Q2 Q3 Q4 Year

Fund Performance Vs S&P CNX Nifty

Company Sector P/E 2008 Ret % Assets

Top Holdings

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

NAV (Rs) - - - - 10.33 19.71 23.94 33.94 50.13 81.34 41.89

Total Return (%) - - - - - 90.80 21.46 41.77 47.70 62.26 -48.50

+/-S&P CNX Nifty (%) - - - - - 18.90 10.78 5.43 7.87 7.49 3.29

+/-BSE 200 (%) - - - - - -3.67 5.77 7.97 8.12 1.82 7.96

Rank (Fund/Category) - - - - - 54/70 50/79 65/101 27/145 71/162 34/192

52 Week High (Rs) - - - - 10.33 19.71 23.94 33.94 50.76 81.46 83.52

52 Week Low (Rs) - - - - 8.84 9.91 16.36 22.34 32.26 46.06 36.49

Net Assets (Rs.Cr) - - - - 51.40 15.15 9.11 140.54 124.74 374.84 343.03

Expense Ratio (%) - - - - 2.49 2.50 2.50 2.50 2.50 2.35 2.31

Rating:Risk: LowReturn: Above Average

90000

70000

50000

30000

10000

History

Total Stocks 39

Avg Mkt Cap (Rs.Cr) 28180

Portfolio P/B Ratio 3.03

Portfolio P/E Ratio 13.70

3Y Earnings Growth (%) 9.80

Financial 16.24 11.90Energy 14.67 37.49Communication 8.00 11.34Technology 7.16 10.95FMCG 6.29 6.85Health Care 5.00 2.74Engineering 4.01 5.26Metals 3.07 4.43Services 2.93 0.28Diversified 1.43 2.97

Fund Nifty

Top 10 Sector Weights (%)

Portfolio Characteristics

Returns as on 31st December 2008, Portfolio related data as on 30th November 2008

Bharti Airtel Communication 18.56 -28.10 6.49Reliance Industries Energy 11.50 -57.30 5.42ONGC Energy 8.31 -46.00 4.50HDFC Bank Financial 20.67 -42.26 3.93HDFC Financial 17.10 -48.21 3.51Satyam Computer Services Technology 7.86 -62.12 3.16ITC FMCG 21.00 -18.47 2.72Axis Bank Financial 10.42 -47.82 2.70Infosys Technologies Technology 14.29 -36.79 2.64United Spirits FMCG 23.26 -55.48 2.34ICICI Bank Financial 9.49 -63.62 2.26Dr. Reddy's Lab Health Care 13.61 -36.12 2.19State Bank of India Financial 9.39 -45.67 2.13Crompton Greaves Engineering 12.29 -65.84 2.12Indian Oil Energy -- -46.33 1.95Cipla Health Care 22.87 -12.09 1.70Sterlite Industries Metals 11.81 -74.80 1.61Reliance Communications Communication 22.87 -69.56 1.51Jindal Steel & Power Metals 7.07 -70.31 1.46Larsen & Toubro Diversified 17.65 -62.88 1.43Zee Entertainment Services 16.01 -57.45 1.41CESC Energy 6.21 -62.11 1.37Tata Consultancy Services Technology 12.79 -55.87 1.36ING Vysya Bank Financial 8.89 -50.78 1.35Nestle India FMCG 26.11 -3.14 1.23

Growth Blend ValueInvestment StyleFUND STYLE

Large Medium

Small

Capitalisation

FundS&P CNX Nifty

(Rebased to 10,000)

How to Read the Fundcard - Equity

Value Research Rating, Risk and ReturnFund Rating — The Value Research Fund Rating is a 1 to 5 star rating that is based on the returns that an equity fund has generated over the pre-vious three and five years, while taking into account the risks that the fund has taken. This rating is relative to other fund of the same type.Risk Grade — A five-step grading of the riskiness of a fund, based on the losses it has suffered during the past five years. This grade is relative toother fund of the same type.Returns Grade — A five-step grading of the returns of a fund. This grade is relative to other fund of the same type.

HistoryData on the fund’s performancesince its launch.

NAV (Year End) — The lastNAV of each year.Total Return — The percent-age returns that an investorwould have got over theyear.+/- — In the given year, acomparison of the fund’sreturns with that of two stockmarket indicesRank — The fund’s perform-ance rank within its categoryfor the year and the totalnumber of funds out ofwhich it has been ranked.52-Week NAV Range — Thehighest and the lowest NAVthat the fund recorded dur-ing that yearNet Assets — The totalamount of investor’s assetsthat the fund was managingat the end of the year.Expense Ratio — The per-centage of the average dailyassets that the fund chargedas its management expens-es during the year.

Trailing Returns (%)Performance data for various stan-dard periods. All returns are in per-centage. Periods greater than ayear are annualised, shorter peri-ods are not.

Fund — The fund’s ownreturns.Category — The averagereturns for all funds in the cate-gory.Rank — The funds rank, out ofthe total number of funds in thecategoryIndex — The returns of thefund’s benchmark index.SIP Return (Annualised) —The return that an investorwould have made by investingin the fund’s monthly systemat-ic investment plan over theperiod.

Quarterly Returns (%)The funds’ returns over each quar-ter of the last five years, along withthe entire year’s returns.

Fund Performance Vs IndexGraph of how an investors’ moneywould have grown in the fund sinceits launch. A similar graph of thefund’s benchmark index is alsogiven. For ease of comparison,both have been adjusted to start at10,000.

Risk AnalysisA range of statistical measures thatcan be used to evaluate the per-formance, risk, and return of amutual fund.

Top HoldingsA detailed report on the latestinvestment portfolio that the fundis holding. For each company,the sector, the P/E ratio, and theyear’s returns are given. Alsostated is the percentage of thefund’s investments that areinvested in that company.

Portfolio CharactersticsAggregate measures regardingthe fund’s investments. The mar-ket capitalisation, P/B ratio andP/E ratio are weighted averagesof the latest numbers of the com-panies that the fund is investedin. Three Year Earnings Growthis the weighted average of thecompounded average growth inthe net profits of each company.

Fund StyleA nine-cell matrix of the overall styleof investment that the fund follows,based on its latest portfolio. On thevertical axis, the three steps denotethe weighted average market capital-isation of the fund’s investments. Thehorizontal axis denotes, on a weight-ed average basis, whether the com-panies that the fund has invested inare value stocks, growth stocks, or ablend of the two.

Top 10 SectorWeights (%)The percentage ofthe equity invest-ments of the fundthat fall under eachsector of the econo-my. The top 15 sec-tors for each fundare given.

Composition (%)The proportion ofthe fund’s holdingsthat are held ineach of the threebasic types ofassets.

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