Factsheet as on February 28, 2017

56 Pages·2017·2.55 MB·English

Content
Market Commentary - Equity 3
Market Commentary – Debt 4
Equity Funds
Edelweiss Absolute Return Fund 5
Edelweiss Arbitrage Fund 7
Edelweiss Economic Resurgence Fund 9
Edelweiss ELSS Fund 10
Edelweiss Equity Opportunities Fund 12
Edelweiss Equity Savings Advantage Fund 13
Edelweiss Mid and Small Cap Fund 15
Edelweiss Prudent Advantage Fund 17
Edelweiss Tax Advantage Fund 19
Edelweiss Top 100 Fund 20
Edelweiss Balanced Advantage Fund 22
Fixed Income Funds
Edelweiss Banking & PSU Debt Fund 23
Edelweiss Bond Fund 24
Edelweiss Corporate Debt Opportunities Fund 25
Edelweiss Government Securities Fund 26
Edelweiss Liquid Fund 27
Edelweiss Short Term Income Fund 28
Edelweiss Treasury Fund 29
Exchange Traded Funds
Edelweiss ETF - Nifty Bank 30
Edelweiss ETF - Nifty 50 31
Edelweiss ETF - Nifty Quality 30 32
Overseas Fund of Funds
Edelweiss Asean Equity Offshore Fund 33
Edelweiss Emerging Markets Opportunities Equity Offshore Fund 34
Edelweiss Europe Dynamic Equity Offshore Fund 35
Edelweiss Greater China Equity Offshore Fund 36
Edelweiss US Value Equity Offshore Fund 37
Scheme Performance (Other than Direct Plan) 38 - 44
Scheme Performance (Direct) 45 - 49
SIP Performance 50 - 51
Schemes managed by Fund Manager 52 - 53
How to Read Factsheet 54
2
Market Commentary - Equity
Indian equities delivered a strong performance in the month of February led by Market activity and Valuation
strong foreign inflows and better than expected 3QFY17 earnings season despite
Performance of Nifty 50 Sectors:
demonetisation. The Union Budget presented during the month stressed on rural
& social sector spending apart from adhering to the fiscal consolidation path. On
FYTD Feb 2017
the macro front, CPI reached record low from drop in food inflation while core
remained sticky. RBI maintained status quo on the policy rates in line with Industrial Manufacturing Industrial Manufacturing
expectations. However the surprise was the shift in policy stance from (42.7%) (18.5%)
Top Performers
“accommodative” to “neutral” signalling the end of the two year easing cycle. FIIs
Media (31.7%) IT (8.8%)
were notable net buyers in during the month while DIIs were marginal buyers as
Insurance continued to be net sellers during the month. In state elections, Punjab,
IT (-8.6%) Auto (-2.1%)
Goa and Uttarakhand completed polling while UP has concluded phase 5 recently. Bottom Performers
Come March, watch out for remainder of the Budget session and results of the
Pharmaceuticals (-6.6%) Construction (1.6%)
State Elections.
On the macro front, December IIP declined 0.4% vs. 5.7% growth in November,
partly led by contraction in manufacturing and demonetisation hitting Performance of Size Indices:
consumption demand. Manufacturing contracted by 2% with Capital goods down
FYTD Feb 2017
3%. In addition, consumer durables also posted a decline of 10.3%. January CPI
fell to a 5-year low of 3.2% vs. 3.4% in December while the divergence in headline Nifty 50 14.7% 3.7%
& core CPI persisted. The drop in veggie prices was seasonal while pulses were
down due to anticipation of strong Rabi output. The core inflation was flattish at Nifty Next 50 30.2% 4.9%
5.1%. In contrast, the WPI moved up to 5.25% vs 3.39% in December led by spike
Nifty Free Float
in fuel & power inflation (18.14%) while the food inflation remained subdued Mid Cap 100 29.2% 6.9%
(-0.56%). January trade deficit came in at 4 month low of $9.8bn vs. $10.4bn in
December, led by positive exports growth (4.3% y-o-y). Engineering goods Flows:
continued its strong show (+12%) but pharma, gems & jewellery dragged down the
FII Flows
overall export growth. Import growth remained elevated at 10.7% led by higher oil
25,000
prices but the 7% growth in cap goods imports was encouraging.
20,000
Government presented the FY18 Union Budget during the month with focus on
15,000
rural and social sector spending. Centre also stuck to the fiscal consolidation path
with FY18 fiscal deficit target at 3.2% of GDP vs. 3.5% in FY17. Revenue growth of 10,000
7% was balanced with expenditure growth of 7%. In addition, the Govt also 5,000
acFanetbneroguuoanrrcyye. dpO opnlei crtysh oemn aepleo itln.i ccTyoh mefr eos ntuatrx,p rctihusetes hRinoB twIh eelev Rfetsr t2wh.5ea sla ptcohsle itc oys h Rrisfat 5t ei.n0s lpuaocnlscic hayan nsntguaeandlc ieni ncfo rtomhmee Rs. (Cr.) -5,0000
“accommodative” to “neutral” post 2 years of easing cycle dampening hopes of -10,000
near term reduction in policy rates. -15,000
FIIs turned notable net buyers during the month with $1.56bn of net inflows led by -20,000
buying of HDFC Bank post opening of FII limit. Domestic Investors were marginal
-25,000
nine tt hbeu ymerosn wthit hw niteht $in2f7lo8wmsn o fo $f 1n3e8tm innf.l Aowmso nwgh DileII sI,n Msuurtaunacl eF ucnodms pwaenriee sn ewte bruey neerst Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17
sellers to the tune of $140mn. Year to date, FIIs and DIIs have bought $1.56bn and
$884mn of equities. Amongst DIIs, Mutual Funds have been net buyers to the
Sources: Edelweiss AMC Research; Citigroup Research; Bloomberg
extent of $1.04bn while insurance companies have sold $208mn of equities.
On the political front, voting concluded in states of Punjab, Uttarakhand & Goa
with 70%, 61% and 83% voter turnout respectively. In Uttar Pradesh (UP), the fifth
phase of polling was completed with voter turnout of 57% while the first four
phases of UP polls saw voter turnout above 61%. The results of these elections are
due on 11th March. Market will watch out for the election results and the second
phase of Budget session that begins on 9th March.
3
Market Commentary - Debt
What we said earlier: Outlook for March:
We expected bond yields to trend higher in February after the RBI’s status We expect government bond yields to remain range-bound in March. The
quo on rates recent hardening of the benchmark 10Y yield has pushed market
participants to review their outlook on the bond market in 2017. Based on a
We expected the benchmark 10Y yield to trade in a range of 6.80-7% technical chart, we believe that the benchmark 10Y yield could trend
towards 7.10-7.15% in the medium-term. Although a smart rally cannot be
We expected the government and the RBI to announce some measures to ruled out in between, we believe that higher US bond yields, demand-supply
improve sentiment of bond market participants dynamic in the new financial year along with gradual upward inflationary
pressures may keep bond yields to trend higher. We advise caution at the
What Happened?
moment.
The RBI’s decision to maintain a status quo on rates resulted in weakening of
sentiment in the bond market as market participants rushed to reduce their
positions amid reduced expectations of a rate cut in the near-term and hawkish
messages from the global central banks.
As a result, the benchmark yield curves experienced an upward shift across the
curve. The table below summarizes the movement in the bond market in
February and YTD basis as on Feb 28, 2017.
Yields as on Change in Change in
Feb 28, 2017 yields in February yields on YTD basis
(in basis points) (in basis points)
3M Treasury Bills 6.10% -10 -10
1Y Treasury Bill 6.21% +4 -12
5Y Government Bond 6.80% +28 +23
10Y Government Bond 6.87% +46 +35
3Y AAA PSU Bond 7.05% +24 -1
5Y AAA PSU Bond 7.36% +25 +18
10Y AAA PSU Bond 7.66% +30 +27
Source: Bloomberg LP
The above table clearly indicates that yields of government bonds hardened
more as compared to AAA PSU bonds on both in February as well as since the
beginning of the year. This perhaps may be due to unwinding of bullish
positions built after the Union Budget in anticipation of a dovish credit policy.
It has been observed that Mutual Funds, as a segment of the market, sold
government bonds totaling Rs. 11,155 crore in February according to CCIL data.
At the same time, Primary Dealers sold government bonds worth Rs. 9,594
crore in the same time. On the other hand, Public Sector Banks, Private Sector
Banks and Insurance Companies were net buyers of government bonds
according to CCIL data. It is also worth noting that FPIs bought government
bonds worth Rs. 4,900 crore and corporate bonds worth Rs. 4,500 crore in
February according to NSDL data. Taken together with strong purchase in the
equity segment, the FPI inflow in Indian capital market totaled Rs. 20,164 crore
in February 2017. This was the first month of positive FPI flow in government
bonds since September 2016.
Bond market participants received more upbeat news from the global economic
landscape during the month. The US economy added more jobs in February.
The widely followed ISM PMI was at 57.7 in February 2017, up from 56 in January
2017. The current level is the highest since August 2014. Both US headline CPI
and core CPI for January surprised on the higher side. The positivity was noted
across the Atlantic with British, German and French economies showing
broad-based improvements in their respective economies. Market participants
have also observed the same kind of upbeat economic assessment in Japan &
China since the beginning of 2017.
Where do we go from here? We believe that central banks are likely to remain
on the hawkish side going forward with the US Federal Reserve taking the lead.
The recent strong show by the US economy has suddenly increased odds of a
rate hike on March 15 FOMC review to around 90% according to Bloomberg.
This, along with hawkish commentary from the Fed may keep the US bond
yields on the higher side and may keep US dollar on a strong bias. It may be
noted that the EM currencies have done well against the USD on year-to-date
basis against the USD with Korean Won leading with gains of 6.8% against the
dollar and INR appreciating by around 1.8% on YTD basis.
4
Edelweiss Absolute Return Fund
(The Scheme is an equity - oriented Scheme. Investors in the Scheme are not being offered any guaranteed / assured returns.)
Holdings as on 28 February 2017 (in %)
Name of the scheme
Equity Holdings PHARMACEUTICALS 9.47% Edelweiss Absolute Return Fund
AUTO 4.56% Sun Pharmaceuticals Ind Ltd. 2.51%
Allotment date
Mahindra & Mahindra Ltd. 1.29% Aurobindo Pharma Ltd. 1.76%
Tata Motors Ltd. 1.26% Piramal Enterprises Ltd. 1.59% Existing Plan 20-Aug-09
Eicher Motors Ltd. 1.21% Lupin Ltd. 1.02% Direct Plan 21-Jan-13
Maruti Suzuki India Ltd. 0.80% Ajanta Pharma Ltd. 0.81% Scheme Type
AUTO ANCILLARIES 2.01% Biocon Ltd. 0.80% An open-ended equity scheme
Tube Investments Of India Ltd. 1.22% Natco Pharma Ltd. 0.79%
Balkrishna Industries Ltd. 0.71% Caplin Point Laboratories Ltd. 0.19% Investment objective
Igarashi Motors India Ltd. 0.08% POWER 1.00% The primary objective of the Scheme will be to
BANKS 8.66% Power Grid Corporation of India Ltd. 1.00% generate absolute returns with low volatility
IndusInd Bank Ltd. 4.03% SOFTWARE 5.74% over a longer tenure of time. The Scheme will
Yes Bank Ltd. 1.64% Tata Consultancy Services Ltd. 2.61% accordingly invest in arbitrage opportunities
ICICI Bank Ltd. 1.59% Geometric Ltd. 1.28% and debt and money market instruments on
City Union Bank Ltd. 1.21% Oracle Financial Services Software Ltd. 1.21% the one hand and in pure equity investments
State Bank of India 0.19% Persistent Systems Ltd. 0.39% and equity derivative strategies on the other.
However, there is no assurance that the
CEMENT 1.57% Cyient Ltd. 0.25%
investment objective of the Scheme will be
Grasim Industries Ltd. 1.57% TELECOM - EQUIPMENT & ACCESSORIES 0.79%
realized.
CHEMICALS 0.24% Bharti Infratel Ltd. 0.79%
Gujarat Alkalies and Chemicals Ltd. 0.24% TELECOM - SERVICES 1.41% Fund Manager: Mr. Kartik Soral
CONSTRUCTION 0.24% Bharti Airtel Ltd. 1.41% Assistant Fund Manager: Mr. Bhavesh Jain
Cera Sanitaryware Ltd. 0.24% TEXTILES - PRODUCTS 0.97%
Total experience (years)
CONSTRUCTION PROJECT 1.27% Page Industries Ltd. 0.97%
Mr. Kartik Soral 10
Larsen & Toubro Ltd. 1.27% TEXTILES - COTTON 0.29%
Mr. Bhavesh Jain 8
CONSUMER DURABLES 0.66% Vardhman Textiles Ltd. 0.29%
Symphony Ltd. 0.34% Equity Holdings Total 67.85% Experience managing the scheme (since)
Whirlpool of India Ltd. 0.32% Long Futures Mr. Kartik Soral 1-Apr-15
CONSUMER NON DURABLES 5.69% State Bank of India 0.00% Mr. Bhavesh Jain 7-Aug-13
ITC Ltd. 1.78% HDFC Bank Ltd. (0.03%) For all Plans
Britannia Industries Ltd. 1.76% Infosys Ltd. 0.02%
Minimum investment amount
Hindustan Unilever Ltd. 1.38% Yes Bank Ltd. 0.01%
Rs. 1000/- per application & in multiples of Re. 1/-
Berger Paints (I) Ltd. 0.34% Long Futures Total 0.00%
thereafter
Kansai Nerolac Paints Ltd. 0.22% Margin Deposit
CCL PRODUCTS INDIA LTD. 0.12% HDFC Bank Ltd. UNRATED 3.15% Additional investment amount
Emami Ltd. 0.09% RBL Bank Ltd. UNRATED 3.15% Rs. 1000/- per application & in multiples of Re.
FINANCE 13.33% Margin Deposit Total 6.30% 1/- thereafter
Housing Development Finance 4.79% Debt Holdings
Entry load Not Applicable
Corporation Ltd. NON-CONVERTIBLE DEBENTURES
ICICI Prudential Life Insurance Co Ltd. 1.71% Reliance Home Finance Ltd. 1.97% Exit load
• If the Units are redeemed / switched out on
Rural Electrification Corporation Ltd. 1.64% NON-CONVERTIBLE DEBENTURES Total 1.97%
or before 365 days from the date of
Gruh Finance Ltd. 1.22% Debt Holdings Total 1.97%
allotment – 1.00%
LIC Housing Finance Ltd. 1.20% Investment in Mutual Fund
Cholamandalam Investment & 0.81% Reliance Mutual Fund CARE AA+ 1.98% • If the Units are redeemed / switched out
Finance Company Ltd. Edelweiss Mutual Fund 0.07% after 365 days from the date of allotment –
CRISIL Ltd. 0.80% Investment in Mutual Fund in 2.05% Nil
Credit Analysis And Research Ltd. 0.39% Mutual Fund Total Benchmark
Capital First Ltd. 0.39% Option Holding
60% Nity 50 Index + 40% CRISIL Composite
Repco Home Finance Ltd. 0.38% Idea Cellular Ltd. 0.03%
Bond Fund Index
GAS 1.73% NATIONAL STOCK EXCHANGE 0.11%
Petronet LNG Ltd. 1.73% OF INDIA LIMITED
HEALTHCARE SERVICES 0.39% Option Holding Total 0.14% NAV (as at 28 February 2017, in Rs.)
Dr. Lal Path Labs Ltd. 0.39% Cash & Other Receivables Direct Plan Dividend Option 14.1800
INDUSTRIAL PRODUCTS 0.66% CBLO / Repo 15.80% Direct Plan Growth Option 19.9800
Sintex Industries Ltd. 0.66% Net Receivables/(Payables) 5.89% Dividend Option 12.5300
MEDIA & ENTERTAINMENT 0.39% Cash & Other Receivables Total 21.69% Growth Option 19.5200
Navneet Education Ltd. 0.39% Grand Total 100.0%
AUM as on 28 February 2017
PAPER 0.39%
Rs. 253.20 Crore
Tamil Nadu Newsprint & Papers Ltd. 0.39%
PESTICIDES 1.82% Average AUM as on February 2017
UPL Ltd. 1.64% Rs. 263.08 Crore
P I INDUSTRIES LIMITED 0.18%
PETROLEUM PRODUCTS 4.57%
Reliance Industries Ltd. 3.61%
Bharat Petroleum Corporation Ltd. 0.96%
5
Edelweiss Absolute Return Fund (Cont.)
Active positive bets Quantitative indicators as on December 30, 2016 Total expense ratio
(month-to-date ratio to average AUM)
Total stocks in portfolio 67 Standard Deviation 9.10%
Top 15 stocks 39.26% Beta 0.5596 Existing Plan2 2.50%
Total portfolio 43.4% Sharpe Ratio 0.3467 Direct Plan2 1.75%
Note: Active positive bets are those where the fund has a higher Portfolio Turnover Ratio1 8.30
weightage as compared to the benchmark CRISIL MIP Blended Index. Risk free rate of return (FIMMDA MIBOR) 6.4800%
Source: BSE, Bloomberg.
Portfolio analysis: Market cap-wise Portfolio analysis: Sector-wise Dividend history
Construction 0.24% Record date Rate Record date
36% 13% Chemicals 0.24% (Re/unit) dividend NAV
Textiles - Cotton 0.29% Regular Plan Dividend Option
5% Healthcare SePrvaipceesr 00..3399%% 18-Jan-17 0.2200 12.2100
Media & Entertainment 0.39% 26-Oct-16 0.2200 12.7400
Consumer Durables 0.66% 25-Jul-16 0.2200 12.8500
45% Industrial Products 0.66% 26-Apr-16 0.2200 12.7000
Telecom - Equipment &… 0.79%
Textile Products 0.97% 25-Jan-16 0.3000 12.5400
>US$15bn US$3 - US$15bn Power 1.00%
US$1 - US$3bn <US$1bn Construction Project 1.27% After payment of dividend, the NAV will fall to
Telecom - Services 1.41% theextent of dividend payout and statutory levy
Cement 1.57% (ifapplicable). Past performance may or may
Gas 1.73% notbe sustained in future. Dividend is declared
Pesticides 1.82%
Auto Ancillaries 2.01% onthe face value of Rs. 10/- per unit
Auto 4.56%
Petroleum Products 4.57%
Consumer Non Durables 5.69%
Software 5.74%
Banks 8.66%
Pharmaceuticals 9.47%
Finance 13.33%
0.00% 5.00% 10.00% 15.00%20.00%
This product is suitable for investors who are seeking* Riskometer
• To create wealth over long term and prevent capital erosion in medium term
• Investment predominantly in equity and equity related securities including through arbitrage opportunities
with balance exposure to debt and money market securities Investors understand that their principal will be
at Moderately High Risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
1Calculated for last 12 months as on February 28, 2017; 2Does not include Service Tax on Investment Management fees.
6
Edelweiss Arbitrage Fund
Holdings as on 28 February 2017 (in %)
Name of the scheme
Equity Holdings % to % to NAV Equity Holdings % to % to NAV Edelweiss Arbitrage Fund
NavDerivatives NavDerivatives
Allotment date
Hedge Positions Britannia Industries Ltd. 0.14%
Regular Plan 27-Jun-14
AUTO 4.85% (4.88%) Britannia Industries Ltd.- FUTURES (0.14%)
Direct Plan 27-Jun-14
Maruti Suzuki India Ltd. 3.02% Asian Paints Ltd. 0.06%
Maruti Suzuki India Ltd.- FUTURES (3.04%) Asian Paints Ltd.- FUTURES (0.06%) Scheme type
Tata Motors Ltd. 1.26% FERROUS METALS 2.71% (2.72%) An open-ended equity scheme
Tata Motors Ltd.- FUTURES (1.26%) JSW Steel Ltd. 2.34%
Investment objective
Mahindra & Mahindra Ltd. 0.46% JSW Steel Ltd.- FUTURES (2.35%)
The investment objective of the Scheme is to
Mahindra & Mahindra Ltd.- FUTURES (0.46%) Tata Steel Ltd. 0.37%
generate income by predominantly investing
Ashok Leyland Ltd. 0.08% Tata Steel Ltd.- FUTURES (0.37%)
in arbitrage opportunities in the cash and the
Ashok Leyland Ltd.- FUTURES (0.08%) FINANCE 12.59% (12.63%)
derivative segments of the equity markets and
Eicher Motors Ltd. 0.04% Housing Development 2.95%
the arbitrage opportunities available within
Eicher Motors Ltd.- FUTURES (0.04%) Finance Corporation Ltd.
the derivative segment and by investing the
AUTO ANCILLARIES 1.61% (1.62%) Housing Development Finance (2.96%)
balance in debt and money market
Exide Industries Ltd. 1.09% Corporation Ltd.- FUTURES
instruments. However, there is no assurance
Exide Industries Ltd.- FUTURES (1.09%) Indiabulls Housing Finance Ltd. 2.76%
that the investment objective of the Scheme
MRF Ltd. 0.30% Indiabulls Housing Finance (2.77%)
will be realized.
MRF Ltd.- FUTURES (0.30%) Ltd.- FUTURES
Apollo Tyres Ltd. 0.23% Bharat Financial Inclusion Ltd. 1.29% Fund managers:
Apollo Tyres Ltd.- FUTURES (0.23%) Bharat Financial Inclusion (1.30%) Equity Portion:
BANKS 3.99% (4.02%) Ltd.- FUTURES Fund Manager: Mr. Bhavesh Jain
ICICI Bank Ltd. 1.48% Power Finance Corporation Ltd. 1.14% Co-Fund Manager: Mr. Kartik Soral
ICICI Bank Ltd.- FUTURES (1.49%) Power Finance Corporation (1.14%)
Debt Portion:
The Federal Bank Ltd. 1.37% Ltd.- FUTURES
Fund Manager: Mr. Dhawal Dalal
The Federal Bank Ltd.- FUTURES (1.38%) Reliance Capital Ltd. 1.03%
IDFC Bank Ltd. 0.69% Reliance Capital Ltd.- FUTURES (1.04%) Total experience (years)
IDFC Bank Ltd.- FUTURES (0.69%) Dewan Housing Finance 0.98% Mr. Bhavesh Jain 8
The South Indian Bank Ltd. 0.21% Corporation Ltd. Mr. Kartik Soral 10
The South Indian Bank Ltd.- FUTURES (0.21%) Dewan Housing Finance (0.98%) Mr. Dhawal Dalal 17
Axis Bank Ltd. 0.18% Corporation Ltd.- FUTURES Experience managing the scheme (since)
Axis Bank Ltd.- FUTURES (0.18%) L&T Finance Holdings Ltd. 0.94%
Mr. Bhavesh Jain 27-Jun-14
IndusInd Bank Ltd. 0.04% L&T Finance Holdings Ltd. (0.95%)
Mr. Kartik Soral 1-Apr-15
IndusInd Bank Ltd.- FUTURES (0.04%) - FUTURES
Mr. Dhawal Dalal 22-Dec-16
Yes Bank Ltd. 0.02% IDFC Ltd. 0.76%
For all Plans
Yes Bank Ltd.- FUTURES (0.02%) IDFC Ltd.- FUTURES (0.76%)
CEMENT 2.61% (2.63%) LIC Housing Finance Ltd. 0.51% Minimum investment amount
Century Textiles & Industries Ltd. 2.16% LIC Housing Finance Ltd.- FUTURES (0.51%) Rs. 5000/- per application & in multiples of Re. 1/-
Century Textiles & (2.18%) IFCI Ltd. 0.17% thereafter
Industries Ltd.- FUTURES IFCI Ltd.- FUTURES (0.17%)
Additional investment amount
The India Cements Ltd. 0.45% Rural Electrification 0.06%
Rs. 1000/- per application & in multiples of Re.
The India Cements Ltd.- FUTURES (0.45%) Corporation Ltd.
1/- thereafter
CHEMICALS 0.06% (0.06%) Rural Electrification (0.06%)
Tata Chemicals Ltd. 0.06% Corporation Ltd.- FUTURES Entry load Not Applicable
Tata Chemicals Ltd.- FUTURES (0.06%) INDUSTRIAL CAPITAL GOODS 0.18% (0.18%) Exit load
CONSTRUCTION 2.00% (2.02%) Bharat Electronics Ltd. 0.18% • If the Units are redeemed / switched out on
Indiabulls Real Estate Ltd. 0.90% Bharat Electronics Ltd.- FUTURES (0.18%) or before 30 days from the date of allotment
Indiabulls Real Estate Ltd. (0.90%) INDUSTRIAL PRODUCTS 1.41% (1.42%) – 0.25%
- FUTURES Jain Irrigation Systems Ltd. 0.77%
• If the Units are redeemed / switched out
Housing Development & Infra. Ltd. 0.63% Jain Irrigation Systems Ltd. (0.77%)
after 30 days from the date of allotment – Nil
Housing Development & (0.63%) - FUTURES
Infra. Ltd.- FUTURES Sintex Industries Ltd. 0.64% Benchmark
DLF Ltd. 0.48% Sintex Industries Ltd.- FUTURES (0.65%) Crisil Liquid Fund Index
DLF Ltd.- FUTURES (0.48%) MEDIA & ENTERTAINMENT 1.29% (1.29%)
NAV (as at 28 February 2017, in Rs.)
CONSTRUCTION PROJECT 2.51% (2.52%) TV18 Broadcast Ltd. 0.57%
NCC Ltd. 1.18% TV18 Broadcast Ltd.- FUTURES (0.57%) Direct Plan Dividend Option 10.5468
NCC Ltd. - FUTURES (1.19%) Zee Entertainment Enterprises Ltd. 0.28% Direct Plan Growth Option 12.2943
Larsen & Toubro Ltd. 1.01% Zee Entertainment Enterprises (0.28%) *Regular Plan Bonus Option 12.1392
Larsen & Toubro Ltd.- FUTURES (1.01%) Ltd.- FUTURES Regular Plan Dividend Option 10.4552
Engineers India Ltd. 0.32% Dish TV India Ltd. 0.27% Regular Plan Growth Option 12.1391
Engineers India Ltd.- FUTURES (0.32%) Dish TV India Ltd.- FUTURES (0.27%) *Closed for subscription
CONSUMER NON DURABLES 6.09% (6.12%) Sun TV Network Ltd. 0.17%
ITC Ltd. 3.93% Sun TV Network Ltd.- FUTURES (0.17%) AUM as on 28 February 2017
Rs. 2050.71 Crore
ITC Ltd.- FUTURES (3.94%) MINERALS/MINING 0.67% (0.66%)
Average AUM as on 28 February 2017
Tata Global Beverages Ltd. 0.98% NMDC Ltd. 0.43%
Rs. 2007.90 Crore
Tata Global Beverages (0.99%) NMDC Ltd.- FUTURES (0.42%)
Ltd.- FUTURES Coal India Ltd. 0.24%
United Spirits Ltd. 0.98% Coal India Ltd.- FUTURES (0.23%)
United Spirits Ltd.- FUTURES (0.98%)
7
Edelweiss Arbitrage Fund (Cont.)
Holdings as on 28 February 2017 (in %) Active positive bets
% to % to NAV % to % to NAV Total stocks in portfolio 79.00
Equity Holdings Equity Holdings
NavDerivatives NavDerivatives Top 15 stocks 32.79%
NON - FERROUS METALS 0.23% (0.23%) Infosys Ltd. 0.04% Total portfolio -
Hindalco Industries Ltd. 0.23% Infosys Ltd.- FUTURES (0.04%) Note: Active positive bets are those where the fund has a higher
Hindalco Industries Ltd.- FUTURES (0.23%) TELECOM - SERVICES 1.76% (1.76%) weightage as compared to the benchmark Crisil Liquid Fund Index.
Source: Bloomberg.
OIL 1.28% (1.29%) Tata Communications Ltd. 0.88%
Cairn India Ltd. 0.74% Tata Communications Ltd.- FUTURES (0.88%)
Quantitative indicators as on December 30, 2016
Cairn India Ltd.- FUTURES (0.74%) Idea Cellular Ltd. 0.61%
Oil & Natural Gas Corporation Ltd. 0.54% Idea Cellular Ltd.- FUTURES (0.61%) Standard Deviation$ -
Beta$ -
Oil & Natural Gas Corporation (0.55%) Reliance Communications Ltd. 0.27%
Sharpe Ratio$ -
Ltd.- FUTURES Reliance Communications Ltd. (0.27%)
Portfolio Turnover Ratio1 13.27
PETROLEUM PRODUCTS 6.13% (6.15%) - FUTURES
Risk free rate of return (FIMMDA MIBOR) 6.4800%
Reliance Industries Ltd. 4.98% TEXTILE PRODUCTS 0.19% (0.19%)
Reliance Industries Ltd.- FUTURES (4.99%) Arvind Ltd. 0.19%
Castrol India Ltd. 1.16% Arvind Ltd.- FUTURES (0.19%) Total expense ratio
Castrol India Ltd.- FUTURES (1.16%) Hedge Positions Total 62.62% (62.86%) (month-to-date ratio to average AUM)
PHARMACEUTICALS 3.12% (3.13%) Equity Holdings Total 62.62% (62.86%) Regular Plan2 1.05%
Sun Pharmaceuticals Ind Ltd. 1.40% Margin Deposit Direct Plan2 0.40%
Sun Pharmaceuticals Ind Ltd. (1.40%) HDFC Bank Ltd. 6.91%
- FUTURES RBL Bank Ltd. 3.96%
Portfolio analysis: Sector-wise
Aurobindo Pharma Ltd. 1.11% Yes Bank Ltd. 0.05%
Aurobindo Pharma Ltd.- FUTURES (1.11%) Margin Deposit Total 10.92% Chemicals 0.06%
Cadila Healthcare Ltd. 0.21% Debt Holdings Industrial Capital Goods 0.18%
Textile Products 0.19%
Cadila Healthcare Ltd.- FUTURES (0.21%) NON-CONVERTIBLE DEBENTURES Non - Ferrous Metals 0.23%
Wockhardt Ltd. 0.20% Indiabulls Housing Finance Ltd. 2.44% Services 0.41%
Wockhardt Ltd.- FUTURES (0.20%) Power Finance Corporation Ltd. 0.80% Software 0.61%
Minerals/Mining 0.67%
Biocon Ltd. 0.09% Dewan Housing Finance 0.78% Oil 1.28%
Biocon Ltd.- FUTURES (0.10%) Corporation Ltd. Media & Entertainment 1.29%
Industrial Products 1.41%
Granules India Ltd. 0.09% Power Grid Corporation of 0.74% Auto Ancillaries 1.61%
Granules India Ltd.- FUTURES (0.10%) India Ltd. Telecom - Services 1.76%
Dr. Reddy's Laboratories Ltd. 0.02% Edelweiss Commodities Services Ltd. 0.49% Construction 2.00%
Construction Project 2.51%
Dr. Reddy's Laboratories Ltd. (0.02%) Edelweiss Financial Services Ltd. 0.46% Cement 2.61%
- FUTURES Cholamandalam Investment & 0.25% Ferrous Metals 2.71%
Pharmaceuticals 3.12%
POWER 6.31% (6.35%) Finance Company Ltd. Banks 3.99%
Reliance Infrastructure Ltd. 1.51% LIC Housing Finance Ltd. 0.34% Auto 4.85%
Reliance Infrastructure Ltd. (1.52%) Housing Development Finance 0.25% Consumer Non Durables 6.09%
Petroleum Products 6.13%
- FUTURES Corporation Ltd. Power 6.31%
Adani Power Ltd. 1.02% Shriram Transport Finance 0.31% Finance 12.59%
Adani Power Ltd.- FUTURES (1.03%) Company Ltd. 0.00% 5.00% 10.00% 15.00%
Reliance Power Ltd. 0.83% Reliance Home Finance Ltd. 0.24%
Reliance Power Ltd.- FUTURES (0.84%) ICICI Bank Ltd. 0.05% Dividend history
Power Grid Corporation of 0.81% Rural Electrification Corporation Ltd. 0.03%
Record date Rate Record date
India Ltd. Infrastructure Leasing & 0.03%
(Re/unit) dividend NAV
Power Grid Corporation of (0.81%) Financial Services Ltd.
Regular Plan Dividend Option
India Ltd.- FUTURES NON-CONVERTIBLE 7.21%
9-Feb-17 0.0450 10.4056
PTC India Ltd. 0.65% DEBENTURES Total
18-Jan-17 0.0500 10.4672
PTC India Ltd.- FUTURES (0.66%) Debt Holdings Total 7.21%
19-Dec-16 0.0600 10.4801
JSW Energy Ltd. 0.60% Money Market Instruments
10-Nov-16 0.0800 10.5087
JSW Energy Ltd.- FUTURES (0.60%) Commercial Paper
13-Oct-16 0.1000 10.5588
NTPC Ltd. 0.49% Mahindra & Mahindra 2.42%
NTPC Ltd.- FUTURES (0.50%) Financial Services Ltd After payment of dividend, the NAV will fall to the
Tata Power Company Ltd. 0.25% Infina Finance Pvt Ltd. 2.28% extent of dividend payout and statutory levy (if
Tata Power Company Ltd.- FUTURES (0.25%) Reliance Capital Ltd. 1.21% applicable). Past performance may or may not
NHPC Ltd. 0.13% Kotak Mahindra Prime Ltd. 1.16% be sustained in future. Dividend is declared on
the face value of Rs. 10/- per unit.
NHPC Ltd.- FUTURES (0.13%) Housing Development Finance 0.93%
Torrent Power Ltd. 0.02% Corporation Ltd.
Torrent Power Ltd.- FUTURES (0.02%) Commercial Paper Total 8.00%
SERVICES 0.41% (0.41%) Money Market Instruments Total 8.00%
Aditya Birla Nuvo Ltd. 0.41% Cash & Other Receivables
Aditya Birla Nuvo Ltd.- FUTURES (0.41%) CBLO / Repo 14.48%
SOFTWARE 0.61% (0.61%) Net Receivables/(Payables) (3.23%)
Hexaware Technologies Ltd. 0.57% Cash & Other Receivables Total 11.25%
Hexaware Technologies Ltd.- FUTURES (0.57%) Grand Total 100.00%
This product is suitable for investors who are seeking* Riskometer
• To generate income by predominantly investing in arbitrage opportunities.
• Investments predominantly in arbitrage opportunities in the cash and derivative segments of the equity
Investors understand that their principal will be
markets and the arbitrage opportunities available within the derivative segment and by investing the
balance in debt and money market instruments. at Moderately Low Risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
1Calculated for last 12 months as on February 28, 2017; 2Does not include Service Tax on Investment Management fees. $Since the scheme has not completed 3 years standard deviation, beta and the sharpe ratio has
not been provided.
8
Edelweiss Economic Resurgence Fund#
# Formerly, JPMorgan India Economic Resurgence Fund. As already notified the Schemes of JPMorgan Mutual Fund have been transferred to and form part of Edelweiss Mutual Fund on and from the close of
business hours on November 25, 2016.
Holdings as on 28 February 2017 (in %)
Name of the scheme
Equity Holdings PETROLEUM PRODUCTS 1.15% Edelweiss Economic Resurgence Fund
AUTO 7.54% Bharat Petroleum Corporation Ltd. 1.15%
Allotment date
Maruti Suzuki India Ltd. 5.27% SOFTWARE 0.56%
Eicher Motors Ltd. 1.23% Vakangee Ltd. 0.56% Regular Plan 3-Feb-15
Ashok Leyland Ltd. 1.04% TELECOM - EQUIPMENT & ACCESSORIES 1.11% Direct Plan 3-Feb-15
AUTO ANCILLARIES 1.83% Astra Microwave Products Ltd. 1.11% Scheme type
WABCO India Ltd. 0.76% Equity Holdings Total 87.33% An open-ended equity scheme
CEAT Ltd. 0.54% Long Futures
Amara Raja Batteries Ltd. 0.53% HDFC Bank Ltd. (0.01%) Investment objective
BANKS 17.74% Long Futures Total (0.01%) The primary investment objective of the
ICICI Bank Ltd. 5.75% Margin Deposit scheme is to generate long term capital
IndusInd Bank Ltd. 4.33% RBL Bank Ltd. 1.06% appreciation, from a diversified portfolio that
Yes Bank Ltd. 3.81% Margin Deposit Total 1.06% is substantially constituted of equity and
State Bank of India 2.77% Cash & Other Receivables equity related securities of companies with
The Federal Bank Ltd. 0.82% CBLO / Repo 11.02% focus on riding economic cycles through
HDFC Bank Ltd. 0.26% Net Receivables/(Payables) 0.59% dynamic allocation between various sectors
and stocks at different stages of economic
CEMENT 8.44% Cash & Other Receivables Total 11.61%
activity. This Fund will generally not invest in
Ultratech Cement Ltd. 1.88% Grand Total 100.00%
defensive sectors such as pharmaceuticals,
Dalmia Bharat Ltd. 1.56%
Active positive bets fast moving consumer goods and IT services.
JK Cement Ltd. 1.49%
JK Lakshmi Cement Ltd. 1.36% Total stocks in portfolio 51 However, there can be no assurance that the
Top 15 stocks 46.70% investment objective of the scheme will be
Shree Cements Ltd. 1.26%
Total portfolio 71.30% realised.
The Ramco Cements Ltd. 0.89%
Note: Active positive bets are those where the fund has a higher
CHEMICALS 1.70% weightage as compared to the benchmark S&P BSE 200. Source: BSE, Fund managers
Solar Industries India Ltd. 1.70% Bloomberg. Head – Equities: Mr. Harshad Patwardhan
CONSTRUCTION 9.86% Quantitative indicators as on December 30, 2016 Fund Manager: Mr. Amit Gadgil
Ahluwalia Contracts (India) Ltd. 3.14%
Standard Deviation$ - Total experience (years)
KNR Constructions Ltd 1.93%
National Buildings Construction 1.74% Beta$ - Mr. Harshad Patwardhan 23
Corporation Ltd. Sharpe Ratio$ - Mr. Amit Gadgil 14
Portfolio Turnover Ratio1 0.68
J.Kumar Infraprojects Ltd. 1.35% Risk free rate of return (FIMMDA MIBOR) 6.4800 Experience managing the scheme (since)
ITD Cementation India Ltd. 1.02%
Mr. Harshad Patwardhan 03-Feb-15
Kajaria Ceramics Ltd. 0.68% Total expense ratio
Mr. Amit Gadgil 29-Apr-16
CONSTRUCTION PROJECT 8.53% (month-to-date ratio to average AUM)
Larsen & Toubro Ltd. 3.96% Regular Plan2 2.67% For all Plans
Sadbhav Engineering Ltd. 2.41% Direct Plan2 2.46% Minimum investment amount
NCC Ltd. 2.16% Portfolio analysis: Market cap-wise Rs. 5000/- per application & in multiples of Re. 1/-
CONSUMER DURABLES 5.47% thereafter
Blue Star Ltd. 2.41% 14% 35%
Whirlpool of India Ltd. 1.63% Additional investment amount
Century Plyboards (India) Ltd. 1.43% Rs. 1000/- per application & in multiples of Re.
CONSUMER NON DURABLES 1.60% 1/- thereafter
Kansai Nerolac Paints Ltd. 1.60% 21% Entry load Not Applicable
ENGINEERING SERVICES 1.47%
30% Exit load
VA Tech Wabag Ltd. 1.47%
>US$15bn US$3 - US$15bn US$1 - US$3bn <US$1bn • If the Units are redeemed / switched out on
FINANCE 1.40%
or before 12 months from the date of
Bajaj Finance Ltd. 1.40% Portfolio analysis: Sector-wise
allotment – 1.00%
GAS 0.82%
Petronet LNG Ltd. 0.82% Software 0.56% • If the Units are redeemed / switched out
Gas 0.82%
after 12 months from the date of allotment –
INDUSTRIAL CAPITAL GOODS 9.49% Telecom - Equipment & Accessories 1.11%
Nil
Action Construction Equipment Ltd. 2.99% Petroleum Products 1.15%
Ujaas Energy Ltd. 2.00% Finance 1.40% Benchmark
V-Guard Industries Ltd. 1.45% Engineering Services 1.47% S&P BSE 200
BEML Ltd. 1.42% Consumer Non Durables 1.60%
NAV (as at 28 February 2017, in Rs.)
Bharat Electronics Ltd. 0.93% Chemicals 1.70%
Texmaco Rail & Engineering Ltd 0.70% Auto Ancillaries 1.83% Direct Plan Dividend Option 11.1040
INDUSTRIAL PRODUCTS 5.64% Non - Ferrous Metals 2.98% Direct Plan Growth Option 11.2150
Consumer Durables 5.47% Regular Plan Dividend Option 11.0080
Jain Irrigation Systems Ltd. 1.84%
Industrial Products 5.64% Regular Plan Growth Option 11.0070
Fag Bearings India Ltd. 1.24%
Auto 7.54%
Grindwell Norton Ltd 1.14% Cement 8.44% AUM as on 28 February 2017
Cummins India Ltd. 0.82% Construction Project 8.53% Rs. 28.33 Crore
Bharat Forge Ltd. 0.60% Industrial Capital Goods 9.49% Average AUM as on February 2017
NON - FERROUS METALS 2.98% Construction 9.86% Rs. 30.33 Crore
Vedanta Ltd. 1.89% Banks 17.74%
Hindalco Industries Ltd. 1.09% 0.00% 10.00% 20.00% 30.00%
This product is suitable for investors who are seeking* Riskometer
• Long Term Capital Growth
• Investment in equity and equity-related securities of companies with a focus on riding economic cycles
Investors understand that their principal will be
through dynamic allocation between various sectors and stocks at different stages of economic activity.
at High Risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
1Calculated for last 12 months as on February 28, 2017; 2Does not include Service Tax on Investment Management fees; $Since the scheme has not completed 3 years standard deviation, beta and the sharpe ratio has
not been provided.
9