Sundaram BNP Paribas Select Focus March...

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Sundaram BNP Paribas Asset Management www.sundarambnpparibas.in A Dynamically Managed Large-Cap Fund March 2009 Sundaram BNP Paribas Select Focus

Transcript of Sundaram BNP Paribas Select Focus March...

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

A Dynamically Managed Large-Cap Fund

March 2009

Sundaram BNP Paribas Select Focus

2Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management2www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Significance of the awards

High quality research available on large-cap stocks

Companies share extensive information

High liquidity

Large sums can be deployed in a easy manner

No restrictions a la Test cricket

Level playing ground for all funds

Consistent & significant outperformance is rare

High quality fund management expertise sets Select Focus apart

Select Focus

Past Performance may or may be sustained in future

3Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management3www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Fund features

Portfolio of large-cap stocks

Invests in no more than 30 stocks

Emphasis on three preferred themes

Top-down approach to pick the themes

Bottom-up approach for picking up stocks

Weighted average market-cap of about Rs.40,000 crore

Median market-cap of about Rs 35,000 crore

Fund is benchmarked to S&P CNX Nifty

Select Focus

Past Performance may or may be sustained in future

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Third-party ratings and rankings

Select Focus Peer Comparison

ICRA Five-Star Fund

Three-year track record for 2008

Four Stars Rating Value Research

CRISIL ~ CPR 2

Please refer disclaimer in slide 42 & 43Past Performance may or may not result in future results

ET Rating: Platinum

5Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management5www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Five Years

Q1 Q2 Q3 Q4

Three Years

Two Years

One Year

Source: Ranking of funds from Value Research; Computation: In-house

Select Focus & peers

Top quartile presence among peers

Select Focus & all equity funds

Ranking as on March 31, 2009

Five Years

Q1 Q2 Q3 Q4

Three Years

Two Years

One Year

Select Focus

Past Performance may or may not be sustained in future

6Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management6www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.inData source : Value Research; As of March 31, 2009

A class-leading fund in the large-cap category

Past Performance may or may not be sustained in future8.8-12.5-19.3-41.3Morgan Stanley Growth

--10.7-16.2-38.0SBI Bluechip--3.7-10.7-35.3Principal Large Cap

14.2-3.1-9.0-30.8Franklin India Bluechip13.2-7.8-13.7-40.2ING Core Equity14.5-3.8-12.2-38.0Mangum Equity

4.0-10.0-13.2-35.6LICMF Equity

15.80.7-8.5-32.8Birla Sun Life Frontline Equity

13.2-2.7-6.8-34.8Templeton India Growth16.0-0.3-4.3-32.5DWS Alpha Equity18.92.7-2.8-26.4DSP BlackRock Top 100 Equity

-0.8-2.2-25.5IDFC Imperial Equity17.1-2.3-7.7-35.2Kotak 30

--3.1-9.9-32.1Quantum Long Term Equity16.4-3.9-8.6-33.4Tata Pure Equity

-8.7Two Years

-2.5Three Years

15.9Five Years

-37.0One Year

Sundaram BNP Paribas Select FocusFund

Select Focus

7Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management7www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

A class-leading fund in the large-cap category

Average

9.5-7.6-14.6-40.0S&P CNX 5009.4-7.9-15.7-42.8BSE 500

12.0-21.0-29.2-58.6BSE Small Cap5.0-12.2-20.6-45.6CNX Nifty Junior9.5-10.7-16.2-45.4CNX Mid Cap7.3-17.9-25.9-54.0BSE Mid Cap

14.0-3.9-9.6-34.3Large Cap Funds12.3-8.4-14.2-36.9All Equity Funds

11.3-3.9-11.1-36.2S&P CNX Nifty11.7-4.9-13.8-37.9BSE Sensex10.4-5.1-12.5-37.6CNX 100

-8.7Two Years

-2.5Three Years

15.9Five Years

-37.0One Year

Sundaram BNP Paribas Select FocusFund

Select Focus

Past Performance may or may not be sustained in futureData source : Value Research; As of March 31, 2009

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Bullish Phase 2007: significant outperformance

Corrective Phase 2008: contained damage

Effect: superior wealth creation

Select Focus Handling the recent bullish and bearish phases

9Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management9www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

2007: outpacing peers, all equity funds & markets comfortably

79.2

60.6 55.8 54.847.1

62.5

0

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50

60

70

80

90

Select Focus Peer GroupAverage

All EquityFunds

Average

Nifty Sensex S & P CNX 500

Leading Nifty by 25 percentage points

Leading average of all equity funds by 24

percentage points

Select Focus

Past Performance may or may not be sustained in futureReturns in per cent; Returns as on December 31, 2007

10Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management10www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

2008: trails all equity funds average & benchmark marginally

-52.4-51.4

-52.2 -51.8-52.4

-57.1-58

-57

-56

-55

-54-53

-52

-51

-50-49

-48

Select FocusPeer Group

Average

All EquityFunds

Average Nifty Sensex S & P CNX 500

Returns in per cent; Returns as on December 31, 2008Past Performance may or may not be sustained in future

Trails Nifty by 0.6 percentage points

Trails average of all equity funds by 0.2 percentage points

Select Focus

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Fund Snapshot

Select Focus

12Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management12www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Broad portfolio strategy

Portfolio

Less than 30 stocks

Top-down approach for sectors

Bottom-up approach for stocks

Bias towardsGrowth

Bluechip names

Select Focus

13Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management13www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Preferred sectors & top picks

Weight in %. As on March 31, 2009; Source: Latest Fact Sheet

Select Focus

InfosysReliance Infrastructure

Bharti AirtelH P C L

Reliance Industries

Shree RenukaSugars

O N G CTata Power

N T P CP N BUnderweightOverweight

Main Active Positions

Position status is relative to benchmark

24.0

9.4 7.65.3

16.114.7

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

Energy FinancialServices

Consumer Engineering Telecom Others

Fund Benchmark

14Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management14www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Select Focus

2.0H P C L2.0Shree Renuka Surgars2.5Reliance Infrastructure2.5B H E L2.5Cairn India2.6L & T

3.4O N G C3.1ICICI Bank3.0HDFC Bank2.9Hindustan Unilever

4.0T C S3.7Reliance Communication3.6P N B3.4Tata Power

7.9Reliance Industries5.0State Bank of India4.4ITC

Weight %Company

1.0Reliance Power

1.0Maruti1.0S A I L1.0Hindalco

1.5Sun Pharma1.5Tata Steel

1.9B P C L

1.3Jaiprakash Associates

1.3Position in Derivatives23.0Cash & Equivalents77.0Equity

1.5Sterlite Industries

1.6Bharti Airtel1.5Ambuja Cement

1.8N T P C1.7Sun TV

Weight %Company

Portfolio

Source: Latest Fact Sheet

15Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management15www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Srividhya Rajesh is the portfolio manager for Sundaram BNP Paribas Select

Focus (CRISIL CPR~2). She has been with Sundaram BNP Paribas for ten years.

She brings rich experience to fund management having tracked markets through

several bullish and bearish phases. She is also the fund manager for Capex

Opportunities. With a sizeable part of her fund portfolio oriented towards large-cap

stocks, she keeps a close tab on macro-economic and sector trends. This is

especially important for Select Focus, as its portfolio is heavy on three themes at

any point.

She follows a combination of top-down and bottom-up approaches based on the

fund specification. Once the sectors are identified, the emphasis shifts to the

bottom-up approach, even though the fund is focused in the large-cap space and

invests in stocks that are extensively researched. This style has enabled her to

zero on in themes and stocks that have helped the fund outpace the Nifty by a

comfortable margin. A two-year stint at the broking arm Kotak Mahindra opened a

window to the equity markets before she joined Sundaram BNP Paribas in 1996.

Srividhya Rajesh is a CFA Charter Holder and

a management graduate from BITS Pilani. She has also done specialized courses in equity research & financial applications from ICFAI.

Traveling, trekking and gardening are her interests away from the world of stocks.

Profile of portfolio managerSelect Focus

16Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management16www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Reasons to own Select Focus

Portfolio of blue-chips with high liquidity & S & P CNX Nifty as benchmark

A high alpha product in the large-cap space indicating the quality of stock picking

Optimum vehicle to play the expanding large-cap universe and emerging mega-cap stocks

Aggressive style that focuses on few themes & less than 30 stocks that has led to an impressive track record

Consistently proven ability to zero in on value enhancing themes

Select Focus

Past Performance may or may not be sustained in future

17Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management17www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Reasons to own Select Focus

Annual returns of 26 per cent over more than six years since launch outpaces Nifty by 8 percentage points

An investment of Rs 10,000 in July 2002 is now worth Rs 47,829;Rs 1000-a-month SIP since launch is worth Rs 1.42 lakh

A must-own component for the core of any equity portfolio, especially for first-time investors

The fund has an asset base (Rs 801 crore as of March 31,2009) that is scalable without impacting performance

Srividhya Rajesh has managed this fund since launch, ensuring stability and consistency in fund management style

Select Focus

Past Performance may or may not be sustained in future

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Performance

Select Focus

19Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management19www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Attractive, Nifty–leading returns

Returns in per cent; Computed using NAVs of Growth Option, Returns as on March 31, 2009Past Performance may or may not be sustained in future

-36.2-37.0-36.2-37.0Last 1 year-11.1-8.7-20.9-16.6Last 2 years-3.9-2.5-11.2-7.4Last 3 years10.414.648.472.6Last 4 years11.315.970.5108.8Last 5 years18.726.4214.5378.3Since Inception

FundBenchmark BenchmarkFundAnnual Return (%)% change inPeriod

Select Focus

20Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management20www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Consistent outperformer

924

4979

-8

14 11 2

-52

108

45

-52

3655

7240

2002 2003 2004 2005 2006 2007 2008 2009

Fund Nifty

Select Focus

Returns in per cent; Returns as on March 31, 2009Past Performance may or may not be sustained in future

21Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management21www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Value of early investment & SIP

Returns in per cent; Returns as on March 31, 2009Past Performance may or may not be sustained in future

Value of Rs10000 invested in July 2002

Select Focus: Rs 47,829

Nifty: Rs 31,544

68,92060,000Five years

9,39427,768

1,41,991…its value now

One YearThree years

Lifetime

12,000

80,000

36,000

Amount Invested…Value of Rs 1000 a month SIP

Select Focus

22Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management22www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Effect of STP and SIP in Select Focus

Data Source: Bloomberg; Computation: In-house; Returns as on March 31, 2009

80000

1,61,5151,41,991

020000400006000080000

100000120000140000160000180000

AmountInvested

SIP in SelectFocus

STP to MoneyFund

Rs

• Rs 1000-a-month invested in Sundaram BNP Paribas Select Focus is now worth to 1,41,991

• Investment of Rs 80,000 in Money Fund at launch and Systematic Transfer Plan of Rs 1000-a-month to Select Focus is now worth Rs 1,61,515

• The additional profit from investment in Money Fund is now worth Rs 19,524

Select Focus

Past Performance may or may not be sustained in future

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Select Focus

24Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management24www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Contact us

Call: 044 28578700

Toll Free: 1800-425-1000

www.sundarambnpparibas.in

SMS: SFUND to 56767

E-mail:[email protected]

Select Focus

Thank

You

Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Additional Information

Select FocusPortfolio Insights

26Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management26www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Investment process

Fundamentals &ManagementAssessment

Fund Managers Economist RESEARCH TEAM

External ResearchPublished InformationCompany Visit

Recommended List

Internal InvestmentCommittee

Final Fund Portfolio

APPROVED BUY LIST

ExecutiveCommittee

STOCK SELECTIONTop-Down

Approach

Fund Themes Sector and Stock Limits

Bottom-Up Stock Picking

Port

folio

C

onst

ruct

ion

Idea

Flo

w &

R

esea

rch

App

rova

l of

Sto

cks

Best Trade Execution

Risk Guidelines

Norms

Idea Generation

Diversification

Liquidity

Select Focus

27Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management27www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Common derivative positions & limitsSelect Focus

Up to 25%; Stock: 10%.SellStock Options – Put

Stock: 10%BuyStock Options – Put

Sell

Buy

Sell

Buy

Buy / Sell

Buy / Sell

Buy / Sell

Action

Stock: 10%Stock Options – Call

Up to 25%; Stock: 10%.Stock Options – Call

Stock: 10%Stock Futures

Up to 25%Index Options – Put

Up to 25%; Stock: 10%Stock Futures

Up to 25%Index Options – Call

Up to 25%Index Futures

Portfolio LimitDerivatives

Past Performance may or may not be sustained in future

28Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management28www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Pure large-cap orientation

0

20000

40000

60000

80000

100000

120000

Dec/06 Jun/07 Dec/07 Jun/08 Dec/08

Mar

ket C

ap

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1000

2000

3000

4000

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7000

Nift

y

Weighted Average Market Cap Nifty Average

Data Source: Bloomberg & In house; Analysis: In house

Weighted average market cap has consistently been higher than Rs 40,000 crore

Select Focus

29Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management29www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.inData Source: Bloomberg & In house; Analysis: In house

Median market cap

0

10000

20000

30000

40000

50000

60000

70000

Dec-06 Jun-07 Dec-07 Jun-08 Dec-08

Mar

ket C

ap

0

1000

2000

3000

4000

5000

6000

7000

Nift

y

Median Market Cap Nifty Average

Select Focus Pure large-cap orientation

30Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management30www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Data Source: Bloomberg & In house; Analysis: In house

0

10

20

30

40

50

60

70

Dec-06 Jun-07 Dec-07 Jun-08 Dec-08

Stoc

k O

verla

p %

Stock Overlap Average

Select Focus Low stock overlap, source of alpha

31Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management31www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Data Source: Bloomberg & In house; Analysis: In house

0

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60

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Dec-06 Jun-07 Dec-07 Jun-08 Dec-08

Sect

or O

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Sector Overlap Average

Select Focus Source of alpha from sector overlap

32Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management32www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Preferred themes

Source: Fact Sheet

CashAutoITNov

ITPharmaCashSep

MetalsAutoITDec

AutoITCashOct

Aug BanksConsumerIT

2002Most preferred ideas: # of months during the year the theme figured in the top three ideas

1Consumer1Pharma

1Banks

3Auto

1Metals

3Cash

IT 512 out of 15

Select Focus

33Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management33www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

EngineeringITMetalsDec

BanksAutoMetalsOct

PharmaEnergyITAug

ConstructionMetalsBanksJune

AutoCashBanksApr

CashEngineeringBanksFeb

ITMetalsAutoNov

BanksAutoMetalsSep

CashAutoMetalsJuly

EngineeringCashBanksMay

PharmaCashBanksMar

Jan AutoCashBanks

1Energy1Construction

2Pharma3IT

6Cash

6Metals

3Engineering

6Auto

Banks 826 out of 36

Most preferred ideas: # of months during the year the theme figured in the top three ideas

2003

Preferred themesSelect Focus

Source: Fact Sheet

34Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management34www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

MetalsAutoBanksDec

EnergyMetalsITOct

ConsumerChemicalsITAug

AutoITCashJune

CashAutoBanksApr

MetalsAutoCashFeb

MetalsBanksAutoNov

ITChemicalsMetalsSep

AutoChemicalsITJuly

AutoITCashMay

AutoChemicalsCashMar

Jan ITCashAuto

6Cash

1Energy1Consumer

4Chemicals

7IT

3Banks

5Metals

Auto 9

2004Most preferred ideas: # of months during the year the theme figured in the top three ideas

27 out of 36

Preferred themesSelect Focus

Source: Fact Sheet

35Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management35www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Energy ITEngineeringDec

EnergyEngineeringCashOct

ConsumerBanksEngineeringAug

EngineeringEnergyBanksJune

CementBanksCashApr

EnergyBanksMetalsFeb

ITEnergyEngineeringNov

BanksEngineeringCashSep

EnergyEngineeringBanksJuly

EnergyBanksMetalsMay

MetalsCementBanksMar

Jan MetalsAutoBanks

3Cash

1Consumer1Auto2Cement

4Metals

7Energy

2IT

7Engineering

Banks 9

2005Most preferred ideas: # of months during the year the theme figured in the top three ideas

27 out of 36

Preferred themesSelect Focus

Source: Fact Sheet

36Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management36www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

EngineeringEnergyITDec

EnergyEngineeringITOct

CashITEngineeringAug

EnergyEngineeringCashJune

EnergyCementEngineeringApr

AutoEnergyEngineeringFeb

BanksEngineeringITNov

EnergyITEngineeringSep

ITEngineeringCashJuly

EnergyEngineeringCashMay

ConsumerITEngineeringMar

Jan EnergyConsumerEngineering

4Cash

1Cement1Auto

2Consumer

8Energy

1Banks

7IT

Engineering 12

2006Most preferred ideas: # of months during the year the theme figured in the top three ideas

31 out of 36

Preferred themesSelect Focus

Source: Fact Sheet

37Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management37www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Financial ServicesEnergyMetalsDec

Financial ServicesEnergyMetalsOct

MetalsEngineeringEnergyAug

ITFinancial ServicesEnergyJune

EngineeringITEnergyApr

EngineeringCashITFeb

Financial ServicesEnergyMetalsNov

Financial ServicesMetalsEnergySep

EngineeringFinancial ServicesEnergyJuly

Financial ServicesEngineeringEnergyMay

EngineeringEnergyCashMar

Jan EnergyEngineeringIT

2Cash

5Metals

7Engineering

4IT

7Financial Services

Energy 11

2007Most preferred ideas: # of months during the year the theme figured in the top three ideas

30 out of 36

Preferred themesSelect Focus

Source: Fact Sheet

38Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management38www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

EnergyCashFinancial ServicesDec

EnergyFinancial ServicesCashNov

EnergyFinancial ServicesCashOct

Financial ServicesEnergyCashSep

Financial ServicesEnergyCashAug

TelecomEnergyCashJuly

ITEnergyCashJune

CashFinancial ServicesEnergyApr

CashFinancial ServicesEnergyFeb

ITCashEnergyMay

Financial ServicesEnergyCashMar

Jan MetalsCashEnergy2008

Most preferred ideas: # of months during the year the theme figured in the top three ideas

12Cash

1Telecom

2IT1Metals

8Financial Services

Energy 1234 out of 36

Preferred themesSelect Focus

Source: Fact Sheet

39Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management39www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

2009Most preferred ideas: # of months during the year the theme figured in the top three ideas

3Cash3Financial Services

Energy 39 out of

9

Preferred themesSelect Focus

Source: Fact Sheet

Financial ServicesEnergyCashFeb

Financial ServicesCashEnergyMar

Jan Financial ServicesEnergyCash

40Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management40www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Big Bets

Few Themes

Large caps

Risk grid

• Core option for large-cap portfolio

• For investors starting a fund portfolio

• Investors who have a mid- cap bias in the portfolio

• Seek the comfort of blue chip names in the portfolio

• Have an investment horizon of three-to-five years

Risk & SuitabilitySelect Focus

41Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management41www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Risk Measures

Data source : Bloomberg; Computation: In-house ; As on March 31, 2009

Select Focus

343Turnover0.92CorrelationTracking ErrorSharpe RatioBetaMean Monthly Returns

3.250.280.942.31

0.162.460.658.13

Information RatioTreynor RatioAlphaStandard Deviation

Past Performance may or may not be sustained in future

42Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management42www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

NILRedemption after 12 months from the date of investment

< Rs 2 crore: 2.25% = > Rs 2 crore: Nil

1 %Investment Amount: < Rs 2 crore, redeemed after six months & within 12 months

1 %Redemption within 6 months from the date of investment

Exit Load

Entry Load

First Investment: Rs 5000 Subsequent Purchase: Rs 500Regular Plan

Minimum Subscription Amount

Growth, Dividend Payout & Re-investmentOptions

2.25% per transactionSIP Entry Load

Growth: Rs 51.72 Dividend: Rs 7.93NAV as of March 31,2009

First Investment: Rs 5 crore Subsequent Purchase: Rs 5 lakhsInstitutional PlanRs 250 per month Rs 750 per quarter SIP

Entry Load

July 30 2002Allotment Date

Source: Latest Factsheet

Fund facts

Source: Fact Sheet

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43Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management43www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

108.7

51.747.8

60.7

40.7

22.610.9

28.0

0

20

40

60

80

100

120

'02 '03 '04 '05 '06 '07 '08 '09

The length of the line indicates the range of NAV movement during the period and a bar drops to show the closing value

NAV over the yearsSelect Focus

NAV of Growth Option as on March 31, 2009Past Performance may or may not be sustained in future

44Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management44www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Disclosures & disclaimerThe disclosures, disclaimer and risk factors highlighted on this page are also available at www.sundarambnpparibas.in. A reference to this disclosures & disclaimer page may also be appended as a hyper-link to e-mails sent on behalf of Sundaram BNP Paribas Asset Management and this page can be accessed online by clicking on the hyperlink appended to such e-mails. If you reach this page at www.sundarambnpparibas.in through a hyperlink contained in a communication issued by Sundaram BNP Paribas Asset Management, this page must be treated an integral part of that communication. Please note his page contains important information that you must read.Past performance may or may not be sustained in future. Past performance is no guarantee of future result. Mutual Fund Investments are subject to market risks. Please read the offer document carefully before investing. For more details on fund-specific features, detailed risk factors and information on Sundaram BNP Paribas Asset Management, please read the Offer Document and/or visit www.sundarambnpparibas.in. Copy of the offer document, key information memorandum and application form may also be obtained from the offices / investor service centres of Sundaram BNP Paribas Asset Management, its distributors and online.

Scheme-Specific Risk Factors: Change in Government policy in general and changes in tax benefits applicable to mutual funds may impact the returns to Investors. For any overseas investments: country risk, currency risk and geopolitical risk, to name a few; Higher volatility due to a concentrated portfolio.

General Risk Factors: All mutual funds and securities investments are subject to market risks, and there can be no assurance or guarantee that fund's objectives will be achieved. NAV may go up or down, depending on the factors and forces affecting the securities market. Main types are market risk, liquidity risk, credit risk and systemic risks. At times, liquidity of investments may be impaired. There is uncertainty of dividend distribution and risk of capital loss. Past performance of the Sponsor/Asset Management Company/Fund does not indicate the future performance. Investors in the schemes are not being offered any guaranteed or indicated returns. The names of the schemes do not in any manner indicate either quality or future prospects and returns. Statutory: Mutual Fund: Sundaram BNP Paribas Mutual Fund is a trust under Indian Trusts Act, 1882 Sponsors (Liability is limited to Rs 1 lakh): Sundaram Finance Ltd & BNP Paribas Asset Management. Investment Manager: Sundaram BNP Paribas Asset Management Company Ltd. Trustee: Sundaram BNP Paribas Trustee Company Ltd.

ICRA Mutual Fund Award: ICRA ONLINE Mutual Fund Rankings seek to inform investors and mutual fund intermediaries of the category-wise relative performance of mutual fund schemes. The rankings, covering the two time horizons of one and three years as of December 2008, have been arrived at following an in-depth analysis of critical parameters, including: risk adjusted performance; portfolio concentration characteristics; liquidity; corpus size; average maturity; and portfolio turnover. The number of schemes considered in Diversified Equity Schemes – Defensive category is 55 for three years. The ranks assigned by ICRA/ICRA Online are based on an objective analysis of information obtained from the entities concerned as also other sources considered reliable by ICRA/ICRA Online. However, the ranks must be construed solely as statements of opinion and ICRA/ICRA Online shall not be liable for any losses incurred by any user from any use of the ranks. Also, the ranks are neither a certificate of any statutory compliance nor any guarantee on the future performance of the ranked entities/schemes. Sundaram BNP Paribas Select Focus: A Five Star Fund for three-year performance in the Diversified Equity – Defensive category. ICRA 5-Star Fund: The fund falls in the top 10% of the category on performance. ICRA Ranking: Open-end diversified equity – defensive: (period ending December 31, 2008) The ranking methodology did not take into account entry and exitloads imposed by the Fund. The rank is neither a certificate of statutory compliance nor any guarantee on the future performance of the funds. Past performance is no guarantee of future result. Ranking Source & Publisher: ICRA Online Limited.

CRISIL CPR Rankings: For equity funds, he criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the two-year period as on December 31, 2008, Concentration and Liquidity of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. In the case of liquid funds, NAV performance over one year is considered apart from other portfolio parameters. The CRISIL CPR is no indication of the performance that can be expected from the scheme in future. CRISILCPR~2 - The composite performance of Sundaram BNP Paribas Select Focus - Growth is “Good" in the Open-End Large-Cap Oriented Equity Schemes Category, and ranks within the top 30% of the 26 schemes ranked in this category.

Value Research Rating: Value Research Fund Ratings are a composite measure of historical risk-adjusted returns. In the case of equity funds this rating is based on the weighted-average monthly returns for the past three- and five-year periods. These ratings do not take into consideration any entry or exit load. Four stars indicate that a fund is in the next 22.5 per cent of its category. The number of schemes in EquityDiversified category is 142. These fund ratings are as on March 31, 2009 Value Research Ratings are published in Monthly Mutual Fund Performance Report and Mutual Fund Insight. The Ratings are subject to change every month. The Rating is based on primary data provided by respective funds. Value Research does not guarantee the accuracy. Past performance is no guarantee of future result. Source: Value Research.

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45Sundaram BNP Paribas Tax Saver Sundaram BNP Paribas Asset Management45www.sundarambnpparibas.inwww.sundarambnpparibas.in Sundaram BNP Paribas Asset Managementwww.sundarambnpparibas.in

Disclosures & disclaimerET Quarterly MF Tracker: lists MF (mutual fund) schemes on the basis of their risk-adjusted performance, based on a detailed number crunching exercise carried out by ET Intelligence Group. Research has been done in-house , while data was sourced from ICRAOnline. The Sortino ratio, a superior risk-adjusted measure, was used to assess the fund performance. We take three years’ performance as the yardstick. The return score is arrived at by allotting 60% weight to the past three year’s absolute return and 40% weight to the past one-year return. These weighted returns are compared vis-à-vis the average return for the category under consideration to arrive at the return score for each scheme. To measure risk, we look at the downside risk. Downside risk is any return below the minimum acceptable rate of return (MAR). Average category returns have been taken as MAR. We looked at the monthly returns for the past three years. The monthly returns were analysed vis-à-vis the average fund returns for that particular month for each of the categories under consideration. The standard deviation of all underperformances for each scheme is then arrived at and compared with the average underperformance of the respective category to arrive at the risk score for each scheme. The return score is then divided by the risk score to arrive at the Sortino ratio for each of the categories. Higher the Sortino ratio, the better is the fund’s performance. The top 10% funds in each category are then classified as ‘Platinum’ funds.

Direct Investment: There will be no entry load for direct applications received by the asset management company. Applications submitted to asset Management Company or collection centres/investor service centres that are not routed through any distributor/agent/broker will qualify for this purpose. An investor while making the applications shall write in the space provided in the application form/or tick in the box provided against the mode of investment as ‘Direct’ and strike off the broker code. No entry and exit load will be applicable on dividend reinvestment and for bonus units.

Comparison with all equity funds’ returns: The returns for all equity diversified funds comprise all funds classified in Equity Diversified and Tax-Planning categories by Value Research. The funds in the two categories have been considered together and there has been no separate sub-classification by Sundaram BNP Paribas Asset Management. The number of schemes covered for different periods are 341 for one year 266 for two years, 223 for three years and 132 for five years. Comparison with Large-cap funds: The returns for the large-cap funds is based on the average of returns of a sub-category created by Sundaram BNP Paribas Asset Management from the broad category of funds classified as equity diversified by Value Research. This sub-category includes funds that consistently invest at least 85%-90% in large-cap stocks. The funds have been chosen in good faith based on the allocation to the top 50 stocks by market cap and the consistency in maintaining such a profile. The number of schemes in the large-cap category are 16 for one year, 16 for two years, 16 for three years and 12 for five years. This comparison does not reflect the effect of objectives, style, asset allocation, entry load, exit load and fess & expenses. This is not intended for ranking purposes and does not also constitute ranking. This is only meant for comparison purposes. The average of returns for the combined universe of the two Value Research categories has been sourced from the Value Research Daily Performance Report. The average returns are as on March 31, 2009 and is based on compounded annual returns (computed using NAV of the Growth Option and/or NAV adjusted dividend reinvestment) for more than one year. Past performance is no guarantee of future result.General Disclaimer: This document in the is issued by Sundaram BNP Paribas Asset Management, an investment manager registered with the Securities and Exchange Board of India in India and is produced for information purposes only. It is not a prospectus or offer document or an offer or solicitation to buy any securities or other investment. Information and opinion contained in this document are published for the assistance of the recipient only; they are not to be relied upon as authoritative or taken as a substitution for exercise of judgment by any recipient. They are subject to change without any notice and not intended to provide the sole basis of any evaluation of the instrument discussed or offer to buy. It is neither a solicitation to sell nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or be taken as investment advice. The information and opinions contained in this communication have been obtained from sources that Sundaram BNP Paribas Asset Management believes to be reliable; no representation or warranty, express or implied, is made that such information is accurate or complete and it should not be relied upon as such. Sundaram BNP Paribas Asset Management neither guarantees its accuracy and/or completeness nor does it guarantee to update the information from time to time. This communication is for private circulation only and for the exclusive and confidential use of the intended recipient(s) only. Any other distribution, use or reproduction of this communication in its entirety or any part thereof is unauthorized and strictly prohibited. By accepting this document you agree to be bound by the foregoing limitations. This communication is for general information only without regard to specific objectives, financial situations and needs of any particular person who may receive it and Sundaram BNP Paribas Asset Management is not soliciting any action based on this document. Sundaram BNP Paribas Asset Management in the discharge of its functions, may use any of the data presented in this document for its decision-making purpose and is not bound to disclose the same. Copies of the offer document and application form with key information memorandum may be obtained from the offices of Sundaram BNP Paribas Mutual offices and its authorized distributors or downloaded from www.sundarambnpparibas.in . For scheme specific risk factors, asset allocation, load structure, fund facts and taxation aspects please refer offer documents available online and at branches/Investor Service Centres.

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