Factsheet Jan 2014.Indd

Factsheet January 2014

Strengthen your portfolio with Religare Invesco.

Equity Funds Debt Funds Religare Invesco Tax Plan Religare Invesco Liquid Fund Religare Invesco PSU Equity Fund Religare Invesco Ultra Short Term Fund Religare Invesco Contra Fund Religare Invesco Short Term Fund Religare Invesco Mid Cap Fund Religare Invesco Credit Opportunities Fund Religare Invesco Arbitrage Fund Religare Invesco Medium Term Bond Fund Religare Invesco Growth Fund Religare Invesco Active Income Fund Religare Invesco Equity Fund Religare Invesco Bank Debt Fund Religare Invesco Overnight Fund Religare Invesco Banking Fund Religare Invesco Gilt Fund Religare Invesco Business Leaders Fund Religare Invesco Infrastructure Fund Fund of Funds Religare Invesco Mid N Small Cap Fund Religare Invesco Gold Fund Hybrid Funds Exchange Traded Funds Religare Invesco Monthly Income Plan (MIP) Plus Religare Invesco Gold Exchange Traded Fund Religare Invesco Monthly Income Plan Religare Invesco Nifty Exchange Traded Fund

Average Assets Under Management for the quarter ending December 2013: `13,706.16 Crores

1 Performance of Schemes

Scheme / Benchmark NAV as on Dec. 31, 2012 - Dec. 30, 2011 - Dec. 31, 2010 - Since Inception Dec. 31, 2013 Dec. 31, 2013 Dec. 31, 2012 Dec. 30, 2011 (CAGR ) Current Value (`) (Absolute ) (Absolute ) (Absolute ) of `10,000

Fund Manager : Sujoy Das Religare Invesco Short Term Fund 1663.5623 6.57% 10.76% 9.60% 7.79% 16,636 Religare Invesco Short Term Fund - Plan B 1657.2822 6.22% 10.13% 9.13% 7.73% 16,573 CRISIL Short Term Bond Fund Index - 8.27% 9.10% 7.84% 7.85% 16,698 CRISIL 1 Year T-Bill Index1 - 5.86% 8.06% 6.42% 5.81% 14,670 Religare Invesco Active Income Fund 1449.5877 5.60% 10.40% 9.19% 5.95% 14,496 CRISIL Composite Bond Fund Index - 3.79% 9.33% 6.90% 6.32% 14,822 CRISIL 10 year Gilt Index1 - -0.68%10.61% 1.91% 5.32% 13,949 Religare Invesco Active Income Fund - Plan B2 1303.9969 5.20% 9.43% 8.98% 4.79% 13,272 CRISIL Composite Bond Fund Index - 3.79% 9.33% 6.92% 5.63% 13,928 CRISIL 10 year Gilt Index1 - -0.68%10.61% 1.92% 3.71% 12,468 Religare Invesco Gilt Fund - Short Duration Plan 1393.4353 15.00% 6.88% 5.91% 5.79% 13,934 I-Sec Si-BEX - 7.25% 9.00% 7.61% 7.78% 15,554 CRISIL 1 Year T-Bill Index1 - 5.86% 8.06% 6.42% 5.73% 13,890 Religare Invesco Gilt Fund - Long Duration Plan 1248.9489 0.85% 7.09% 5.09% 3.84% 12,489 I-Sec Li- BEX - 1.38% 12.78% 6.08% 6.82% 14,757 CRISIL 10 year Gilt Index1 - -0.68%10.61% 1.91% 4.65% 13,073 Religare Invesco Overnight Fund 1474.9282 9.78% 8.93% 6.81% 6.36% 14,749 CRISIL Liquid Fund Index - 9.03% 8.49% 8.15% 7.32% 15,607 CRISIL 91 Day T-Bill Index1 - 8.28%8.62% 6.19% 5.92% 14,368 Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Nitish Sikand Religare Invesco Credit Opportunities Fund 1423.8762 9.59% 10.22% 9.77% 8.47% 14,239 Religare Invesco Credit Opportunities Fund - Regular 1375.2839 8.02% 9.16% 8.91% 7.60% 13,753 CRISIL Short Term Bond Fund Index - 8.27% 9.10% 7.84% 7.31% 13,590 CRISIL 1 Year T-Bill Index1 - 5.86%8.06% 6.42% 5.46% 12,600 Religare Invesco Medium Term Bond Fund 1249.7612 6.11% 8.81% 8.05% 7.69% 12,498 CRISIL Composite Bond Fund Index - 3.79% 9.33% 6.90% 6.65% 12,138 CRISIL 1 Year T-Bill Index1 - 5.86%8.06% 6.42% 6.78% 12,182 Religare Invesco Gold Exchange Traded Fund 2671.8748 -10.92% 10.96% 30.86% 12.95% 15,904 Price of Gold - -10.07% 12.06% 32.21% 14.04% 16,500 Religare Invesco Gold Fund 9.6504 -7.61% 11.20% - - - Price of Gold - -10.07% 12.06% - - - Religare Invesco Bank Debt Fund 1073.3385 7.11% - - - - CRISIL Short Term Bond Fund Index - 8.27% - - - - CRISIL 1 Year T-Bill Index1 - 5.86% - - - - Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Krishna Cheemalapati Religare Invesco Ultra Short Term Fund 1728.9274 8.87% 9.74% 9.26% 8.19% 17,289 Religare Invesco Ultra Short Term Fund - Regular 1647.9955 7.55% 8.47% 8.69% 7.44% 16,480 CRISIL Liquid Fund Index - 9.03% 8.49% 8.15% 7.36% 16,395 CRISIL 91 Day T-Bill Index1 -8.28% 8.62% 6.19% 5.88% 14,884

1 Performance of Schemes

NAV as on Dec. 31, 2012 - Dec. 30, 2011 - Dec. 31, 2010 - Since Inception Scheme / 7 15 1 3 6 Dec. 31, 2013 Dec. 31, 2013 Dec. 31, 2012 Dec. 30, 2011 Current Value Benchmark Days3 Days3 Month3 Months3 Months3 (CAGR ) (`) (Absolute ) (Absolute ) (Absolute ) of `10,000

Fund Manager : Krishna Cheemalapati Religare Invesco 1725.0270 8.96% 8.95% 9.00% 9.55% 9.39% 9.24% 9.69% 9.00% 7.95% 17,250 Liquid Fund Religare Invesco Liquid Fund - 1643.5559 7.62% 7.61% 7.66% 8.22% 8.02% 7.80% 8.41% 8.14% 7.22% 16,436 Regular Religare Invesco Liquid Fund - 1681.9515 7.90% 7.86% 7.89% 8.46% 8.28% 8.07% 8.95% 8.73% 7.57% 16,820 Institutional CRISIL Liquid Fund - 6.40% 8.06% 8.95% 9.45% 9.44% 9.03% 8.49% 8.15% 7.34% 16,570 Index CRISIL 91 Day T-Bill - 10.01% 9.22% 9.08% 9.67% 8.12% 8.28% 8.62% 6.19% 5.86% 15,010 Index1 Past performance may or may not be sustained in future. Returns are of Growth Option.

Scheme / Benchmark NAV as on Dec. 31, 2012 - Dec. 30, 2011 - Dec. 31, 2010 - Since Inception Dec. 31, 2013 Dec. 31, 2013 Dec. 31, 2012 Dec. 30, 2011 Current Value (CAGR ) (`) (Absolute ) (Absolute ) (Absolute ) of `10,000

Fund Manager : Vetri Subramaniam & Vinay Paharia Religare Invesco Tax Plan 21.64 10.13% 30.12% -18.92% 11.63% 21,640 S&P BSE 100 - 5.87% 29.77% -25.73% 6.57% 15,622 CNX NIFTY1 - 6.76% 27.53% -24.62% 6.83% 15,894 Religare Invesco Growth Fund 15.27 11.54% 26.36% -21.82% 6.83% 15,270 S&P BSE 100 - 5.87% 29.77% -25.73% 5.42% 14,022 CNX NIFTY1 - 6.76% 27.53% -24.62% 5.76% 14,317 Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Vetri Subramaniam & Amit Ganatra Religare Invesco PSU Equity Fund 8.69 -15.05% 17.75% -24.46% -3.35% 8,690 S&P BSE PSU Index - -19.43% 15.15% -32.72% -10.20% 6,417 CNX NIFTY1 - 6.76% 27.53% -24.62% 5.50% 12,472 Religare Invesco Contra Fund 18.17 4.67% 30.53% -22.07% 9.28% 18,170 S&P BSE 500 - 3.25% 31.00% -27.41% 6.80% 15,567 CNX NIFTY1 - 6.76% 27.53% -24.62% 7.55% 16,320 Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Vetri Subramaniam Religare Invesco Equity Fund 16.32 19.30% 27.21% -20.44% 8.15% 16,320 S&P BSE 100 - 5.87% 29.77% -25.73% 2.68% 11,800 CNX NIFTY1 - 6.76% 27.53% -24.62% 3.10% 12,103 Religare Invesco Business Leaders Fund 14.12 9.20% 24.18% -21.92% 8.22% 14,120 CNX NIFTY - 6.76% 27.53% -24.62% 7.87% 13,920 S&P BSE Sensex1 - 8.98% 25.54% -24.64% 7.82% 13,891 Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Vinay Paharia Religare Invesco Mid Cap Fund 18.59 6.23% 41.43% -17.50% 9.68% 18,590 CNX Midcap Index - -5.10% 38.91% -31.00% 7.04% 15,787 CNX NIFTY1 - 6.76% 27.53% -24.62% 7.02% 15,769 Religare Invesco Mid N Small Cap Fund 19.61 11.17% 43.60% -19.24% 12.32% 19,610 CNX Midcap Index - -5.10% 38.91% -31.00% 5.53% 13,662 CNX NIFTY1 - 6.76% 27.53% -24.62% 5.97% 13,999 Past performance may or may not be sustained in future. Returns are of Growth Option.

2 Performance of Schemes

Fund Manager : Amit Ganatra Religare Invesco Banking Fund 21.56 -9.53% 57.73% -29.91% 15.08% 21,560 CNX Bank Index - -8.73% 56.16% -32.42% 15.37% 21,862 CNX NIFTY1 - 6.76% 27.53% -24.62% 8.47% 15,605 Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Amit Ganatra & Pranav Gokhale Religare Invesco Infrastructure Fund 7.33 -4.06% 22.30% -29.33% -4.95% 7,330 CNX Infrastructure Index - -4.16% 21.52% -38.54% -11.97% 4,585 CNX NIFTY1 - 6.76% 27.53% -24.62% 2.07% 11,336

Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Pranav Gokhale Religare Invesco Arbitrage Fund4 16.0207 7.91% 9.07% 7.47% 7.31% 16,021 CRISIL Liquid Fund Index - 9.03% 8.49% 8.15% 7.29% 16,003 CNX NIFTY1 - 6.76%27.53% -24.62% 6.70% 15,421

Religare Invesco AGILE Fund 7.98 7.40% 21.28% -16.51% -3.67% 7,980 CNX NIFTY - 6.76% 27.53% -24.62% 1.53% 10,961 S&P BSE Sensex1 - 8.98% 25.54% -24.64% 1.73% 11,089 Religare Invesco AGILE Tax Fund 8.71 6.09% 19.22% -16.71% -2.35% 8,710 CNX NIFTY - 6.76% 27.53% -24.62% 4.80% 13,132 S&P BSE Sensex1 - 8.98%25.54% -24.64% 5.02% 13,295 Religare Invesco Nifty Exchange Traded Fund 639.9549 7.34% 28.45% - - - CNX NIFTY - 6.76% 27.53% - - - S&P BSE Sensex1 - 8.98% 25.54% - - - Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Sujoy Das, Nitish Sikand & Pranav Gokhale Religare Invesco Monthly Income Plan (MIP) Plus5 1263.4577 2.75% 11.43% 5.21% 6.73% 12,635 (65%)CRISIL MIP Blended Fund Index; (35%)Price of Gold - -0.66% 12.05% 12.39% 8.25% 12,763 CRISIL 1 Year T-Bill Index1 - 5.86% 8.06% 6.42% 6.04% 12,343 Past performance may or may not be sustained in future. Returns are of Growth Option.

Fund Manager : Sujoy Das & Pranav Gokhale Religare Invesco Monthly Income Plan5 1264.4163 6.84% 12.49% 1.00% 6.76% 12,644 CRISIL MIP Blended Index - 4.41% 12.05% 1.72% 6.51% 12,541 CRISIL 1 Year T-Bill Index1 - 5.86%8.06% 6.42% 6.04% 12,343 Religare Invesco Capital Protection Oriented Fund – 12.0220 5.08% 14.30% - - - Series I CRISIL MIP Blended Index - 4.41% 12.05% - - - CRISIL 1 Year T-Bill Index1 - 5.86% 8.06% - - -

Past performance may or may not be sustained in future. Returns are of Growth Option.

CAGR - Compounded Annualised Growth Rate Religare Invesco Capital Protection Oriented Fund – Series 1 - The Scheme offered is ‘oriented towards protection of capital’ and ‘not with guaranteed returns’. Further, the orientation towards protection of capital originates from the portfolio structure of the Scheme and not from any bank guarantee, insurance cover etc. Religare Invesco Monthly Income Plan (MIP) Plus - An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus. The term ‘Plus’ has been used in terms of the asset allocation and not in terms of returns/yield. Religare Invesco Monthly Income Plan - An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus. Religare Invesco Gold Fund - The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme.

3 Performance of Schemes

Scheme Name Inception Date Scheme Name Inception Date

Religare Invesco Bank Debt Fund 29th December, 2012 Religare Invesco Gilt Fund 9th February, 2008 Religare Invesco Gold Fund 5th December, 2011 Religare Invesco AGILE Fund 19th December, 2007 Religare Invesco Nifty Exchange Traded Fund 13th June, 2011 Religare Invesco Infrastructure Fund 21st November, 2007 Religare Invesco Capital Protection Oriented Fund – Series 1 21st March, 2011 Religare Invesco Equity Fund 4th October, 2007 Religare Invesco Medium Term Bond Fund 30th December, 2010 Religare Invesco Overnight Fund 14th September, 2007 Religare Invesco Monthly Income Plan (MIP) Plus 1st June, 2010 Religare Invesco Growth Fund 9th August, 2007 Religare Invesco Monthly Income Plan 1st June, 2010 Religare Invesco Active Income Fund 2nd August, 2007 Religare Invesco Gold Exchange Traded Fund 12th March, 2010 Religare Invesco Arbitrage Fund 30th April, 2007 Religare Invesco PSU Equity Fund 18th November, 2009 Religare Invesco Mid Cap Fund 19th April, 2007 Religare Invesco Credit Opportunities Fund 28th August, 2009 Religare Invesco Contra Fund 11th April, 2007 Religare Invesco Business Leaders Fund 21st August, 2009 Religare Invesco Short Term Fund 24th March, 2007 Religare Invesco Banking Fund 14th July, 2008 Religare Invesco Ultra Short Term Fund 18th January, 2007 Religare Invesco Mid N Small Cap Fund 17th March, 2008 Religare Invesco Tax Plan 29th December, 2006 Religare Invesco AGILE Tax Fund 10th March, 2008 Religare Invesco Liquid Fund 17th November, 2006

No. Of Schemes managed by respective Fund Managers Vetri Subramaniam 6 Sujoy Das 8 Vinay Paharia 4 Nitish Sikand 6 & FMPs Amit Ganatra 4 Krishna Cheemalapati 2 Pranav Gokhale 8

Returns for Religare Invesco Nifty Exchange Traded Fund are calculated after considering dividend reinvestment of Rs. 5 per unit on record date - December 26, 2012 at ex-dividend NAV of Rs. 591.3176 per unit. For calculating returns since inception of all schemes except open ended debt schemes, Religare Invesco Gold Exchange Traded Fund and Religare Invesco Nifty Exchange Traded Fund, NAV as on the date of allotment is taken as Rs. 10/-. For calculating returns since inception for Religare Invesco Gold Exchange Traded Fund, NAV as on the date of allotment is taken as Rs.1,680.0014/- and for Religare Invesco Nifty Exchange Traded Fund, NAV as on the date of allotment is taken as Rs. 548.28/-. For calculating returns since inception for open ended debt schemes NAV as on the date of allotment is taken as Rs. 1,000/*. Face Value per unit is Rs. 10/- for all schemes except for open ended debt schemes and Religare Invesco Gold Exchange Traded Fund where Face Value per unit is Rs. 1,000/*- and Rs. 100/- respectively.

Dec. 31 being a non business day, performance as on Dec. 30 has been given, wherever applicable.

The performance of Religare Invesco Fixed Maturity plans (FMPs) is not given above, as FMPs are close-ended schemes of varying maturities and performance of FMPs may or may not be strictly comparable with open-ended debt schemes. Since inception returns are given only in respect of schemes which have completed 3 years.

1 Additional Benchmark. 2 In case of Religare Invesco Active Income Fund- Plan B, Inception Date: August 02, 2007, there were few instances where there were no investors in the Growth option of the said scheme(s)/plan(s) (for which performance data is given) for certain period of time and hence there was no NAV during that period. Subsequently, when new investors came, the units were allotted at Rs.10/- per unit. Hence since inception returns are calculated by taking weighted average of returns for the period when NAV of the Scheme was available. Further current value of Rs.10,000/- is based on NAV as on Dec. 31, 2013 (end date) and start date is June 05, 2010, the date on which units were allotted at Rs.10/- when new investor subscribed. 3Returns less than one year : Simple Annualised. 4 Religare Invesco Arbitrage Fund performance is not strictly comparable with that of its additional benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities etc. 5 Religare Invesco Monthly Income Plan (MIP) Plus and Religare Invesco Monthly Income Plan performance may or may not be strictly comparable with that of its additional benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments and Gold ETFs (applicable only for Religare Invesco MIP Plus).

*The Face value of Religare Invesco Short Term Fund, Religare Invesco Credit Opportunities Fund, Religare Invesco Medium Term Bond Fund, Religare Invesco Monthly Income Plan, Religare Invesco Monthly Income Plan (MIP) Plus, Religare Invesco Gilt fund - Long Duration Plan, Religare Invesco Gilt Fund- Short Duration Plan and Religare Invesco Active Income Fund has been changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013 and the Face value of Religare Invesco Liquid Fund, Religare Invesco Ultra Short Term and Religare Invesco Overnight Fund has been changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on February 25, 2011.

4 In The News Asian Investor - January 2014 Mint - January 21, 2014 Religare-Invesco targets offshore market The firm is launching a feeder fund into its JV partner’s pan-European equity fund, while its is also focusing on sub-advisory for pending India-focused Invesco products internationally.

Indian firm Religare Invesco Asset Management is set to launch its first fund- of-funds this week feeding into a pan-European equity fund of its joint-venture partner. Religare Invesco’s CEO, Saurabh Nanavati, tells AsianInvestor the $2.2 billion fund house will be advancing a two-pronged global strategy this year: promoting its Indian expertise overseas as well as Invesco’s global capabilities in the domestic market. “Our team has spent much of last year building the brand name and getting onto global distributors’ platform,” he says. “This year the joint venture will be more focused on launching products – both selling Indian products offshore and getting Invesco’s global products into India. “With new parent Invesco we are working more proactively to sell Indian products into the global market, which was one of the main reasons why Invesco chose to invest in our firm in 2012, apart from developing the Invesco brand in local Indian markets.” Invesco’s acquisition of 49% stake in Religare Asset Management was Saurabh Nanavati completed in May 2013, as reported. AsianInvestor had previously reported on what Invesco had bought into in India. Chief Executive, Religare Invesco Prior to that purchase, when it came to its global approach Religare had raised assets from Hong Kong, Singapore and Japan independently to feed into its Indian funds. Now Religare Invesco AM’s 17-strong investment management team – 11 focused on equities, six on fixed income – will progressively become more active on sub-advisory, confirms Nanavati. Invesco is understood to be readying an India-focused bond fund domiciled in Luxembourg and available for sale internationally including Hong Kong, pending regulatory approval. The need to tap the international investor base is seen as a key revenue generator for Indian fund houses, given the challenge of selling mutual funds in the domestic marketplace. Mutual fund contribution to household financial savings in India contracted -1.1% in the 12 months to end- June 2012, from 3.3% in 2010, according to the Reserve Bank of India. Redemptions and capital losses were cited as the cause. While RBI estimates this will return to 2.5% by June 2013, that is still down in percentage terms on 2010. Part of the challenge has been getting Indian retail investors to trust equities again after the financial crisis. They parked more than 50% of savings into bank deposits between 2010 and 2013, and today only 0.3% of their savings – estimated at $200 billion – is invested directly in Indian equities. “In the majority of cases equity is non-existent in retail investors’ personal investment,” says Nanavati. “That the trend has to reverse at some point in the near future.” He confirms that while Religare-Invesco is not yet bottom-line positive, it had achieved break-even at the operational income level when it was acquired in 2012. This week Religare Invesco AM will launch its first fund of funds feeding into an Invesco pan-European equity fund. In India, feeder FoFs investing into offshore funds represent less than 1% of industry asset under management, which stood at $133 billion as at the end of December 2013, according to the Association of Mutual Funds in India.

Money Today - January 2014 Economic Times - January 21, 2014

5 Market Update

Macro Economic Review Global growth forecasts were revised higher in January. The World Bank has increased its global growth forecast from 2.4% in 2013 to 3.2% in 2014, as it believes that Europe, US and Japan will pick up but will be sensitive to potential turbulence from the slowdown in China and US tapering this year. The World bank expects India to see a strong growth revival from 4.8% in 2013 to 7.1% in 2016 but this will depend on political, economic, monetary and fiscal conditions. However, on the ground in India there are very few signs of pickup in economic growth. November Industrial production dropped 2.1%YoY. Normally large surprises in Industrial Production can be attributed to large gyrations of the volatile capital goods sector. But this time, the damage was in the consumption sector. Durables dropped sharply but perhaps the bigger surprise was consumer non-durables. The strong monsoon/harvest was meant to translate into buoyant consumer non-durables growth, particularly from rural areas. However, production contracted for a second successive month. The trade deficit in December increased month-on-month marginally to US$10.1 bn. The underlying trend, however, is not encouraging. Export growth moderated sharply to 3.5% YoY. Monthly import declined 15% YoY. The drop in gold imports continues to be a key component of the reduction in the trade deficit. The december composite CPI print reduced a meaningful 130 bps month-on-month to 9.9% YoY supported by a sharp fall in vegetable prices. WPI inflation at 6.2% was also lower-than-expectations. The trends in core inflation – both CPI and WPI – were sticky and uncomfortable. Perhaps in response to this, the RBI delivered a 25bps hike in its policy meeting in January after surprisingly staying on hold in December. The commentary from the RBI suggests that if inflation follows the downward trajectory that they expect, then the RBI would not have to hike rates further. The 10-year benchmark treasury yields softened a marginal 04 bps over the month to 8.78%. It was a volatile month for yields as lower inflation first led to lower yields, followed by a surprise rate hike and higher yields. INR depreciated 1.4% over January. This could be linked to a notable moderation in the portfolio flows momentum and a broader dollar index (DXY) appreciation over the month. Most key emerging market currencies depreciated over the month. However, in that sense, the Rupee was quite stable as compared to other economies with twin deficits. The RBI’s actions to shore up FX reserves & hike rates to combat inflation combined with the Government’s actions to curtail the trade and current account deficit appear to have moved India away from the centre stage of the Emerging market fears that gripped the markets at the end of the month. On the fiscal front, the government is facing strong headwinds. Overall tax revenue growth on a year-on year basis moderated in December vs. November due to a steeper decline (YoY terms) in indirect taxes and direct tax growth moderating to single digits. Due to the continued moderation in tax revenue growth, the gap between actual tax revenue and budget estimates continue to widen. Thankfully, as regards expenditure on a fiscal year to date basis, expenditure growth at 17.5% YoY (Apr-Dec) remains below the budget estimate of 18.2% YoY. As a result Fiscal deficit for Apr-Dec 2013 stood at 95.2% of budget estimate(BE) vs. 78.8% of BE in the same period last year. On a 12-month trailing basis, the fiscal deficit increased to 5.5% of GDP vs. 4.9% of GDP as of Mar-13. The government remains committed to achieving its fiscal target of 4.8% for the year. Nevertheless, this is sobering news because the government is likely to engage in sharp expenditure compression this quarter as it races against time to meet its budget fiscal deficit. Further, the quality of the achievement is undermined by the nature of several one-time receipts & deferral of expenditure.

Equity Market The market got off to a weak start in January with the benchmark Sensex index dropping over 3%. The mid & small cap indices underperformed the Sensex-reversing the trend witnessed in the last quarter of 2013. Global markets were also weak, the MSCI All country index dropping 4%. In fact, India outperformed both Asia Emerging markets & Global Emerging markets. Towards the month end, there was rising fear about emerging markets currencies but unlike in the middle of 2013, India fared better than most emerging markets. Valuations remain in the comfort zone–they are not expensive, but neither are they cheap: trading slightly below long-term averages. On a forward basis, they appear at a slightly higher discount to average. However, given the macro environment, we find current high teen earnings growth forecasts for the markets for FY15 to be suspect & hence we do not emphasize forward valuations. The averages mask significant dispersion in valuation between different areas of the market. Small & Midcap companies are at an attractive discount to large cap companies. Further in cyclical sectors like Industrials, Consumer Discretionary and Materials, which have been experiencing a challenging macro environment; valuations are attractive. Companies in these sectors may not offer strong near term growth visibility, but we are willing to take the risk due to attractive valuations. The fall in the value of the rupee in 2013 has improved the competitiveness of exporters & that is an attractive area. However, our focus is on companies that were credible exporters even before the currency collapse. We continue to avoid companies with balance sheet risk. We are of the opinion that stock selection remains the key to generate alpha in this environment.

6 Market Update Cont’d...

Fixed Income Market The activity in the debt market was higher compared to the previous months. The sentiment amongst market participants seemed to improve as the prices of green vegetables dropped sharply over the previous month. With the drop in vegetable prices, the expectations of a lower headline inflation also started dawning upon most of the market participants and the yields of longer tenor bonds started to move lower. The month of Jan’14 witnessed euphoria amongst gilt investors as the yields moved lower due to postponement of g-sec auction and expectations of lower inflation. The yields of 10 year sovereign moved lower by about 10bps from 8.80% to 8.70% after touching an intra-month low of 8.50%. The retracement of yield from the lows was due to the Urjit Patel Committee recommendations, which suggested stiff targets on CPI headline inflation control through monetary policy actions. The surprise repo rate hike of 25bps from 7.75% to 8% by RBI also jolted the market and the yields moved higher. While lower headline inflation data on both WPI and CPI of 6.16% and 9.87% compared to 7.52% and 11.24% of the previous month had built in hope of status quo on rates, the rate hike pushed the yields upwards. The yields of short maturity bonds and money market instruments moved higher amidst deteriorating liquidity conditions, issuance pressure from the banking industry. The corporate credit spreads remained largely unchanged over the month. The RBI has indicated that extent and direction of further policy steps will be data dependent, however, if disinflationary process evolves according to its baseline projection, further policy tightening in near term is not anticipated. The RBI stating that possibility of rate hike is not anticipated in near future, will provide support to yields at the longer end of the curve. As possibility of further rate hike diminishes, we do not see any interest rate hike in foreseeable future, aided by softening inflation and weak economic growth. In such a scenario, we feel that long duration funds and actively managed bond funds which are in sync with the rate cycle may provide good investment opportunities. The yields of debt securities will move in line with the inflation and RBI’s rate actions. The inflow through overseas deposits raised by various banks from Sept’13 onwards has led to some improvement in the liquidity conditions within the banking system. The term repo auctions by RBI has led to improved liquidity management by RBI and containing the overnight rates within a tighter band. The deficit liquidity conditions within the system are now being met through infusions from RBI through repo rate, MSF rate and various term repo auctions. The superior liquidity management by RBI gives comfort that the liquidity conditions will be maintained well over the following months too. Hence, the yields of short maturity papers are expected to remain largely around similar levels, while higher yields are not ruled out in the month of March’14 as outflows on account of advance tax payments. The reserve money creation will take a beating as the government expenditure seems to be largely over for the financial year. Higher supply of corporate bonds might lead to some widening of spreads for corporates as the spreads are lower than the averages and the borrowing programme for the government ends by the 1st week of Feb’14. Reduced supply of g-sec from the following month and increased issuance of corporate bonds might lead to the credit spreads widening from the current levels. Taking cognizance of monetary policy guidance, we are positive on long maturity bonds, which may provide opportunity for capital appreciation over a period of time. The probability for the g-sec yield to come off from the present yields is higher due to absolute levels, which is trading around 130 bps higher than the previous 10 year average yield of the benchmark. We recommend all funds of over 3 years plus modified duration, actively managed bond funds which are in sync with the rate cycle and long duration gilt funds to benefit from capital appreciation. Further, India’s government bond possible inclusion in global bond indices is expected to work in favour of Indian government bonds over time. In light of the improved India’s external balances position a calibrated US Federal tapering programme is not expected to induce undue volatility in the rates market. The sovereign rating continues to be under the threat of a downgrade in case the general election results are fragmented. The issue stemming from a weak government will be unable to pursue a lower fiscal deficit.

7 Assets Under Management

Table I Table II AUM REPORT FOR THE QUARTER ENDED (31/12/2013) AUM REPORT FOR THE QUARTER ENDED (31/12/2013) Asset class wise disclosure of AAUM Disclosure of percentage of AUM by geography Category Average AUM for the Geographical Spread % of Total AUM as on the Quarter (Rs. in Lakhs) last day of the Quarter Income 749,492.89 Top 5 Cities 60.84 Equity (other than ELSS) 45,981.27 Next 10 Cities 28.22 Balanced 0.00 Next 20 Cities 6.70 Liquid 528,569.54 Next 75 Cities 2.28 Gilt 25,110.41 Others 1.96 Equity - ELSS 14,506.40 Total 100.00 GOLD ETF 6,809.66 Other ETF 146.18 Fund of Fund investing overseas 0.00 Total 1,370,616.34

8 Religare Invesco Tax Plan (An Open-Ended Equity Linked Savings Scheme with a lock-in period of 3 years )

Suitable for Investors who are seeking* capital appreciation over long-term investment in equity and equity-related instruments high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk

As on 31st January, 2014 Investment Objective Portfolio

To generate long term capital Company % of Net Company % of Net growth from a diversiﬁ ed portfolio Assets Assets of predominantly equity and equity Equity & Equity Related Instruments 94.79 AIA Engineering Ltd. 1.40 related securities. Tata Consultancy Services Ltd. 7.09 Dr. Reddy’s Laboratories Ltd. 1.33 Britannia Industries Ltd. 6.36 Tree House Education & Accessories Ltd. 1.31 Key Facts Wipro Ltd. 5.65 IPCA Laboratories Ltd. 1.25 HDFC Bank Ltd. 5.65 Bayer CropScience Ltd. 1.23 Load Structure Housing Development Finance Corp. Ltd. 5.45 VIP Industries Ltd. 1.21 Entry Load1 Nil ING Vysya Bank Ltd. 4.08 LIC Housing Finance Ltd. 1.09 Exit Load2 Nil Maruti Suzuki India Ltd. 3.37 The Great Eastern Shipping Company Ltd. 1.08 Biocon Ltd. 2.64 Siemens Ltd. 1.00 Minimum Investment ` 500/- & in multiples of Oil & Natural Gas Corporation Ltd. 2.64 Bharti Airtel Ltd. 0.98 ` 500/- thereafter Bharat Petroleum Corporation Ltd. 2.35 Greaves Cotton Ltd. 0.96 Larsen & Toubro Ltd. 2.29 Voltas Ltd. 0.96 Additional Purchase Infosys Ltd. 2.25 Redington (India) Ltd. 0.94 ` 500/- & in multiples of Apollo Hospitals Enterprise Ltd. 2.16 Eros International Media Ltd. 0.82 ` 500/- thereafter D.B.Corp. Ltd. 2.13 The Federal Bank Ltd. 0.78 PI Industries Ltd. 1.96 Sadbhav Engineering Ltd. 0.71 Inception Date Gujarat Pipavav Port Ltd. 1.94 Pidilite Industries Ltd. 0.69 29th December, 2006 Power Grid Corporation of India Ltd. 1.92 Gujarat State Petronet Ltd. 0.69 Tech Mahindra Ltd. 1.90 Whirlpool of India Ltd. 0.60 NAV p.u. (`) As on 31st January, 2014 Lupin Ltd. 1.87 NTPC Ltd. 0.57 Growth 20.80 Dividend 13.07 VA Tech Wabag Ltd. 1.86 Kalpataru Power Transmission Ltd. 0.51 Idea Cellular Ltd. 1.84 The Ramco Cements Ltd. 0.47 Direct Plan: Supreme Industries Ltd. 1.83 Balrampur Chini Mills Ltd. 0.35 Growth 21.00 City Union Bank Ltd. 1.62 Dividend 13.08 Cash & Cash Equivalent 5.21 Tata Steel Ltd. 1.52 Total 100.00 Portfolio Turnover Ratio The Jammu & Kashmir Bank Ltd. 1.51 (1 Year) 0.47

Risk Ratios3 Sector Classifi cation4 Dividend Distribution5 Standard Deviation 4.48% Sharpe Ratio -0.01 Software 16.89% Record Date Rate Cum-Dividend Beta 0.81 Banks 13.63% (`/ Unit) NAV p.u. (`) 3Based on 3 years, monthly data Pharmaceuticals 7.09% Consumer Non Durables 6.71% history (Risk-free rate of 8.83% Finance 6.54% Dividend Option based on 91 days T-Bill Rate) Construction Project 3.95% 27-Dec-13 0.90 14.46 Auto 3.37% Pesticides 3.19% 30-Mar-11 0.75 12.37 Benchmark Index Transportation 3.03% 20-Jan-11 2.00 14.40 S&P BSE 100 Power 3.00% Media & Entertainment 2.94% 25-Nov-09 1.00 13.03 Telecom - Services 2.82% Direct Plan - Dividend Option AAUM for the quarter ending Industrial Products 2.79% Oil 27-Dec-13 1.00 14.56 ` 2.64% December, 2013 138.51 crores Industrial Capital Goods 2.40% Petroleum Products 2.35% 5Past performance may or may not be sustained Fund Manager & Experience Healthcare Services 2.16% in future. Dividend is on face value of `10/- per unit. Engineering Services 1.86% After the payment of dividend, the per unit NAV will Vetri Subramaniam Consumer Durables 1.81% fall to the extent of dividend payout and applicable Total Experience 21 Years Ferrous Metals 1.52% Diversified Consumer Services 1.31% statutory levy, if any. The above table does not include Experience in managing this fund: Trading 0.94% the details of all the dividends declared in the scheme. Since December 16, 2008 Chemicals 0.69% Gas 0.69% Vinay Paharia Cement 0.47% Total Experience 11 Years Experience in managing this fund: 4Sector Classifi cation as recommended by AMFI. Since June 28, 2010

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer 9 Religare Invesco PSU Equity Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment in equity and equity-related instruments of Government companies (PSU’s) high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate capital appreciation by Company % of Net Company % of Net investing in equity and equity related Assets Assets instruments of companies Equity & Equity Related Instruments 99.20 Gujarat Mineral Development Corp. Ltd. 2.25 where the Central / State Government(s) has majority share The Jammu & Kashmir Bank Ltd. 12.96 Hindustan Petroleum Corporation Ltd. 2.12 holding or management control Oil & Natural Gas Corporation Ltd. 11.11 Gujarat Industries Power Company Ltd. 1.97 or powers to appoint majority of directors Bharat Petroleum Corporation Ltd. 9.85 Indraprastha Gas Ltd. 1.78 Power Grid Corporation of India Ltd. 8.77 Bharat Heavy Electricals Ltd. 1.75 Key Facts GAIL (India) Ltd. 7.65 Bharat Electronics Ltd. 1.71 Coal India Ltd. 6.05 SJVN Ltd. 1.56 Load Structure Entry Load1 Nil LIC Housing Finance Ltd. 5.13 Gujarat State Petronet Ltd. 1.30 Exit Load2 If redeemed/switched-out on Balmer Lawrie & Company Ltd. 4.76 Gujarat State Fertilizers & Chemicals Ltd. 1.12 or before 1 year from the date of allotment : 1% State Bank of India 4.66 Bank of Baroda 1.05 If redeemed/switched-out Corporation Bank 2.95 Oriental Bank of Commerce 0.99 after 1 year from the date of allotment : Nil Oil India Ltd. 2.67 Cash & Cash Equivalent 0.80 Switch between the Plans Indian Oil Corp. Ltd. 2.57 Total 100.00 under the Scheme: For switch to Direct Plan: NTPC Ltd. 2.48 - Transaction not routed through Distributor: Nil 4 5 - Transaction routed through Sector Classiﬁ cation Dividend Distribution Distributor: Applicable exit load Record Date Rate For switch from Direct Cum-Dividend Banks 22.61% Plan: Nil (`/ Unit) NAV p.u. (`)

Minimum Investment Power 14.79% Dividend Option ` 5,000/- & in multiples of 26-Nov-10 1.10 11.22 ` 1/- thereafter Petroleum Products 14.55% 5Past performance may or may not be sustained Additional Purchase Oil 13.78% ` ` in future. Dividend is on face value of 10/- per unit. 1,000/- & in multiples of After the payment of dividend, the per unit NAV will ` 1/- thereafter Gas 10.73% fall to the extent of dividend payout and applicable statutory levy, if any. Inception Date 18th November, 2009 Minerals/Mining 8.30%

NAV p.u. (`) As on 31st January, 2014 Finance 5.13% Growth 8.33 Dividend 7.52 Transportation 4.76% Direct Plan: Growth 8.40 Industrial Capital Goods 3.46% Dividend 7.58 Fertilisers 1.12% Portfolio Turnover Ratio (1 Year) 0.24

Risk Ratios3 4Sector Classiﬁ cation as recommended by AMFI. Standard Deviation 5.52% Sharpe Ratio -0.23 Beta 0.84 3Based on 3 years, monthly data history (Risk-free rate of 8.83% based on 91 days T-Bill Rate)

Benchmark Index S&P BSE PSU Index

AAUM for the quarter ending December, 2013 ` 52.23 crores

Fund Manager & Experience Vetri Subramaniam Total Experience 21 Years Experience in managing this fund: Since November 9, 2010 Amit Ganatra Total Experience 10 Years Experience in managing this fund: Since November 9, 2010

10 Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer Religare Invesco Contra Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment in equity and equity-related instruments through means of contrarian investing high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate capital appreciation Company % of Net Company % of Net through investment in equity and Assets Assets equity related instruments. The Equity & Equity Related Instruments 97.75 Voltas Ltd. 2.01 Scheme will seek to generate capital appreciation through means of Tech Mahindra Ltd. 7.68 Greaves Cotton Ltd. 1.86 contrarian investing. Britannia Industries Ltd. 7.39 Larsen & Toubro Ltd. 1.78 Key Facts ING Vysya Bank Ltd. 5.04 The Great Eastern Shipping Company Ltd. 1.68 Wipro Ltd. 4.90 ICICI Bank Ltd. 1.65 Load Structure The Jammu & Kashmir Bank Ltd. 4.89 Hindustan Zinc Ltd. 1.54 Entry Load1 Nil Exit Load2 If redeemed/switched-out on Maruti Suzuki India Ltd. 4.21 Redington (India) Ltd. 1.36 or before 1 year from the date of allotment : 1% Infosys Ltd. 3.99 Tata Steel Ltd. 1.34 If redeemed/switched-out VA Tech Wabag Ltd. 3.95 Power Grid Corporation of India Ltd. 1.32 after 1 year from the date of allotment : Nil AIA Engineering Ltd. 3.88 Siemens Ltd. 1.26 Switch between the Plans under the Scheme: Gujarat Pipavav Port Ltd. 2.80 Eros International Media Ltd. 1.24 For switch to Direct Plan: Biocon Ltd. 2.55 Bharti Airtel Ltd. 0.99 - Transaction not routed through Distributor: Nil IPCA Laboratories Ltd. 2.50 Apollo Hospitals Enterprise Ltd. 0.97 - Transaction routed through Distributor: Applicable exit Oil & Natural Gas Corporation Ltd. 2.44 LIC Housing Finance Ltd. 0.97 load D.B.Corp. Ltd. 2.36 Whirlpool of India Ltd. 0.96 For switch from Direct Plan: Nil The Federal Bank Ltd. 2.35 Max India Ltd. 0.83

Minimum Investment Crompton Greaves Ltd. 2.30 TV18 Broadcast Ltd. 0.66 ` 5,000/- & in multiples of Sadbhav Engineering Ltd. 2.27 NRB Bearing Ltd. 0.50 ` 1/- thereafter Bharat Forge Ltd. 2.23 Alstom India Ltd. 0.45 Additional Purchase Bharat Petroleum Corporation Ltd. 2.13 Balrampur Chini Mills Ltd. 0.39 ` 1,000/- & in multiples of ` 1/- thereafter VIP Industries Ltd. 2.09 Cash & Cash Equivalent 2.25

Inception Date Idea Cellular Ltd. 2.06 Total 100.00 11th April, 2007

NAV p.u. (`) As on 31st January, 2014 4 5 Growth 17.31 Sector Classiﬁ cation Dividend Distribution Dividend 13.39 Software 16.56% Direct Plan: Record Date Rate Cum-Dividend Banks 13.93% Growth 17.45 (`/ Unit) NAV p.u. (`) Dividend 13.50 Industrial Capital Goods 7.90% Consumer Non Durables 7.78% Dividend Option Construction Project 6.06% Portfolio Turnover Ratio 12-Mar-10 2.00 13.48 (1 Year) 0.64 Pharmaceuticals 5.05% Industrial Products 4.59% 7-Sep-09 1.20 13.12 Risk Ratios3 Transportation 4.48% 5Past performance may or may not be sustained Standard Deviation 5.25% Media & Entertainment 4.26% in future. Dividend is on face value of `10/- per unit. Sharpe Ratio -0.06 Auto 4.21% After the payment of dividend, the per unit NAV will Beta 0.95 Engineering Services 3.95% fall to the extent of dividend payout and applicable 3Based on 3 years, monthly data statutory levy, if any. history (Risk-free rate of 8.83% Telecom - Services 3.05% based on 91 days T-Bill Rate) Consumer Durables 3.04% Oil 2.44% Benchmark Index Petroleum Products 2.13% S&P BSE 500 Finance 1.80% Non - Ferrous Metals 1.54% AAUM for the quarter ending Trading 1.36% December, 2013 ` 45.04 crores Ferrous Metals 1.34% Power 1.32% Fund Manager & Experience Healthcare Services 0.97% Vetri Subramaniam Total Experience 21 Years Experience in managing this fund: 4Sector Classiﬁ cation as recommended by AMFI. Since December 16, 2008 Amit Ganatra Total Experience 10 Years Experience in managing this fund: Since August 14, 2012

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer 11 Religare Invesco Mid Cap Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment predominantly in equity and equity-related instruments of Mid Cap companies high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To provide long term capital Company % of Net Company % of Net appreciation by investing in a Assets Assets portfolio that is predominantly Equity & Equity Related Instruments 95.02 Gujarat State Petronet Ltd. 1.78 constituted of equity and equity related instruments of Mid Cap Britannia Industries Ltd. 5.82 Sadbhav Engineering Ltd. 1.52 companies ING Vysya Bank Ltd. 4.41 Tree House Education & Accessories Ltd. 1.52 The Jammu & Kashmir Bank Ltd. 4.32 Titan Company Ltd. 1.52 Key Facts Tech Mahindra Ltd. 3.73 Mindtree Ltd. 1.50 D.B.Corp. Ltd. 3.68 Greaves Cotton Ltd. 1.49 Load Structure AIA Engineering Ltd. 3.64 LIC Housing Finance Ltd. 1.44 Entry Load1 Nil Exit Load2 If redeemed/switched-out on PI Industries Ltd. 3.22 Alstom India Ltd. 1.43 or before 1 year from the Voltas Ltd. 3.19 Grindwell Norton Ltd. 1.41 date of allotment : 1% Supreme Industries Ltd. 3.15 Balmer Lawrie & Company Ltd. 1.23 If redeemed/switched-out after 1 year from the date of Biocon Ltd. 3.10 Bharat Forge Ltd. 1.18 allotment : Nil Gujarat Pipavav Port Ltd. 2.76 FAG Bearings India Ltd. 1.10 Switch between the Plans The Federal Bank Ltd. 2.50 Apollo Hospitals Enterprise Ltd. 1.05 under the Scheme: For switch to Direct Plan: City Union Bank Ltd. 2.49 Texmaco Rail & Engineering Ltd. 1.00 - Transaction not routed Redington (India) Ltd. 2.47 Whirlpool of India Ltd. 1.00 through Distributor: Nil IPCA Laboratories Ltd. 2.46 Eros International Media Ltd. 0.99 - Transaction routed through Distributor: Applicable exit Bharat Petroleum Corporation Ltd. 2.21 Corporation Bank 0.99 load Siemens Ltd. 2.15 The Ramco Cements Ltd. 0.94 For switch from Direct The Great Eastern Shipping Company Ltd. 2.09 Kalpataru Power Transmission Ltd. 0.93 Plan: Nil Rallis India Ltd. 2.08 Agro Tech Foods Ltd. 0.87 Minimum Investment Bayer CropScience Ltd. 2.04 Sundaram Finance Ltd. 0.33 ` 5,000/- & in multiples of VA Tech Wabag Ltd. 2.03 TV18 Broadcast Ltd. 0.22 ` 1/- thereafter Maruti Suzuki India Ltd. 2.02 Crompton Greaves Ltd. 0.11 Additional Purchase Gateway Distriparks Ltd. 2.00 Cash & Cash Equivalent 4.98 ` 1,000/- & in multiples of VIP Industries Ltd. 1.89 Total 100.00 ` 1/- thereafter

Inception Date 19th April, 2007 Sector Classiﬁ cation4 Dividend Distribution5

NAV p.u. (`) As on 31st January, 2014 Record Date Rate Cum-Dividend Growth 17.61 Banks 14.71% (`/ Unit) ` Dividend 14.60 Industrial Capital Goods 8.34% NAV p.u. ( ) Industrial Products 8.33% Direct Plan: Dividend Option Growth 17.76 Transportation 8.09% 24-Sep-10 2.70 15.65 Dividend 14.72 Pesticides 7.34% Consumer Non Durables 6.69% 5 Pharmaceuticals 5.56% Past performance may or may not be sustained Portfolio Turnover Ratio ` Software 5.24% in future. Dividend is on face value of 10/- per unit. (1 Year) 0.45 After the payment of dividend, the per unit NAV will Media & Entertainment 4.90% fall to the extent of dividend payout and applicable Construction Project 4.71% 3 statutory levy, if any. Risk Ratios Consumer Durables 4.40% Standard Deviation 5.06% Trading 2.47% Sharpe Ratio 0.03 Petroleum Products 2.21% Beta 0.73 Engineering Services 2.03% 3 Based on 3 years, monthly data Auto 2.02% history (Risk-free rate of 8.83% Gas 1.78% based on 91 days T-Bill Rate) Finance 1.76% Diversiﬁed Consumer Services 1.52% Benchmark Index Healthcare Services 1.05% CNX Mid Cap Index Cement 0.94% Power 0.93% AAUM for the quarter ending December, 2013 ` 49.19 crores 4Sector Classiﬁ cation as recommended by AMFI. Fund Manager & Experience Vinay Paharia Total Experience 11 Years Experience in managing this fund: Since December 16, 2008

12 Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer Religare Invesco Arbitrage Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* income over medium-term income through opportunities emerging out of mis-pricing between cash and derivatives markets and through deployment of surplus cash in ﬁ xed income instruments low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate income through Company % of Net Company % of Net arbitrage opportunities emerging Assets Assets out of mis-pricing between the cash Equity & Equity Related Instruments 68.09 Cipla Ltd. 0.36 market and the derivatives market Lupin Ltd. 6.70 Tata Consultancy Services Ltd. 0.34 and through deployment of surplus United Spirits Ltd. 6.30 ITC Ltd. 0.34 cash in fi xed income instruments. Reliance Industries Ltd. 5.92 Oracle Financial Services Software Ltd. 0.34 Infosys Ltd. 5.58 Jain Irrigation Systems Ltd. 0.31 Tech Mahindra Ltd. 3.89 The India Cements Ltd. 0.28 Apollo Tyres Ltd. 2.56 Indraprastha Gas Ltd. 0.28 Key Facts Sun Pharmaceuticals Industries Ltd. 2.22 Hindalco Industries Ltd. 0.27 LIC Housing Finance Ltd. 1.78 Housing Development Finance Corp. Ltd. 0.26 Load Structure Exide Industries Ltd. 1.70 Mahindra & Mahindra Ltd. 0.23 1 HDFC Bank Ltd. 1.56 Allahabad Bank 0.22 Entry Load Nil Tata Global Beverages Ltd. 1.50 Mahindra & Mahindra Financial Services Ltd. 0.20 Exit Load2 Nil Tata Power Company Ltd. 1.18 PTC India Ltd. 0.18 UPL Limited 1.04 Syndicate Bank 0.18 The Federal Bank Ltd. 1.02 Hexaware Technologies Ltd. 0.18 Minimum Investment Dr. Reddy’s Laboratories Ltd. 0.89 Ranbaxy Laboratories Ltd. 0.17 ` 5,000/- & in multiples of IFCI Ltd. 0.87 Jaiprakash Power Ventures Ltd. 0.16 JSW Steel Ltd. 0.85 Colgate Palmolive (India) Ltd. 0.15 ` 1/- thereafter Divi’s Laboratories Ltd. 0.84 Oriental Bank of Commerce 0.15 Power Grid Corporation of India Ltd. 0.82 Jindal Steel & Power Ltd. 0.11 The Karnataka Bank Ltd. 0.82 Petronet LNG Ltd. 0.10 Additional Purchase Reliance Power Ltd. 0.81 Voltas Ltd. 0.10 ` 1,000/- & in multiples of Tata Communications Ltd. 0.76 UCO Bank 0.10 Dish TV India Ltd. 0.76 Union Bank of India 0.10 ` 1/- thereafter Tata Steel Ltd. 0.74 ICICI Bank Ltd. 0.09 Titan Company Ltd. 0.71 Indusind Bank Ltd. 0.08 Reliance Capital Ltd. 0.65 Coal India Ltd. 0.07 Inception Date NTPC Ltd. 0.64 Century Textiles & Industries Ltd. 0.05 30th April, 2007 Bharti Airtel Ltd. 0.63 Tata Chemicals Ltd. 0.04 IDFC Ltd. 0.62 Mcleod Russel India Ltd. 0.03 Hindustan Zinc Ltd. 0.60 Bata India Ltd. 0.03 NAV p.u. (`) As on 31st January, 2014 Yes Bank Ltd. 0.58 Canara Bank 0.03 Growth 16.1594 IRB Infrastructure Developers Ltd. 0.57 Bharat Petroleum Corporation Ltd. 0.02 Maruti Suzuki India Ltd. 0.57 Dabur India Ltd. 0.02 Dividend 12.5470 Biocon Ltd. 0.57 Kotak Mahindra Bank Ltd. 0.02 Bonus 16.1579 Unitech Ltd. 0.57 Glenmark Pharmaceuticals Ltd. 0.01 NHPC Ltd. 0.53 Punjab National Bank 0.01 Direct Plan: Sesa Sterlite Ltd. 0.52 Mutual Fund Units 11.62 Cairn India Ltd. 0.52 Religare Invesco Liquid Fund 11.62 Growth Option 16.2841 Ashok Leyland Ltd. 0.51 Dividend Option 13.1632 Idea Cellular Ltd. 0.50 Fixed Deposit 20.25 Tata Motors Ltd. 0.47 HDFC Bank Ltd. 19.46 Bonus 16.2841 Siemens Ltd. 0.46 Bank Of Nova Scotia 0.78 Arvind Ltd. 0.41 Derivatives, Cash & Cash Equivalent 0.04 Grasim Industries Ltd. 0.38 Portfolio Turnover Ratio Asian Paints Ltd. 0.36 Total 100.00 (1 Year) 45.78 The Scheme is having exposure to Stock Futures (Short) against the above Equity Stocks and the Gross Derivatives Exposure is 68.54% of Net Assets. Benchmark Index CRISIL Liquid Fund Index Sector Classifi cation3 Dividend Distribution4 AAUM for the quarter ending December, 2013 ` 72.80 crores Pharmaceuticals 11.75% Record Date Rate Cum-Dividend Software 10.33% (`/ Unit) NAV p.u. (`) Fund Manager & Experience Consumer Non Durables 8.70% Petroleum Products 5.94% Pranav Gokhale Banks 4.95% Dividend Option Total Experience 10 Years Finance 4.38% 7-Jan-14 0.14 12.6090 Experience in managing this fund: Power 4.33% 5-Dec-13 0.10 12.6488 Auto Ancillaries 4.25% Since April 01, 2011 Telecom - Services 1.89% 7-Nov-13 0.10 12.6627 Auto 1.78% 10-Oct-13 0.09 12.6182 Ferrous Metals 1.69% Construction 1.14% Direct Plan - Dividend Option Pesticides 1.04% 10-Oct-13 0.06 12.6598 Non - Ferrous Metals 0.88% Media & Entertainment 0.76% 26-Sep-13 0.03 12.6262 Consumer Durables 0.74% 26-Aug-13 0.10 12.6522 Cement 0.72% Minerals/Mining 0.59% 29-Jul-13 0.09 12.6492 Oil 0.51% Industrial Capital Goods 0.46% 4Past performance may or may not be sustained Textile Products 0.41% in future. Dividend is on face value of `10/- per unit. Gas 0.38% After the payment of dividend, the per unit NAV will Industrial Products 0.31% fall to the extent of dividend payout and applicable Construction Project 0.10% statutory levy, if any. The above table does not in- Chemicals 0.04% clude the details of all the dividends declared in the scheme. 3Sector Classifi cation as recommended by AMFI.

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer 13 Religare Invesco Growth Fund (An Open-Ended Diversiﬁ ed Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment in diversiﬁ ed portfolio of equity and equity-related instruments high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate long term capital Company % of Net Company % of Net growth from a diversiﬁ ed portfolio Assets Assets of predominantly equity and equity Equity & Equity Related Instruments 97.13 Bharat Petroleum Corporation Ltd. 2.25 related securities. HDFC Bank Ltd. 7.96 Idea Cellular Ltd. 2.22 Key Facts Tata Consultancy Services Ltd. 7.46 Hindustan Zinc Ltd. 2.06 Reliance Industries Ltd. 6.85 AIA Engineering Ltd. 1.84 Load Structure Housing Development Finance Biocon Ltd. 1.44 Entry Load1 Nil Exit Load2 If redeemed/switched-out on Corp. Ltd. 6.34 IPCA Laboratories Ltd. 1.26 or before 1 year from the Wipro Ltd. 5.75 VA Tech Wabag Ltd. 1.24 date of allotment : 1% Britannia Industries Ltd. 4.88 The Jammu & Kashmir Bank Ltd. 1.22 If redeemed/switched-out after 1 year from the date of ICICI Bank Ltd. 4.49 The Federal Bank Ltd. 1.19 allotment : Nil Larsen & Toubro Ltd. 4.31 Tata Steel Ltd. 1.19 Switch between the Plans under the Scheme: HCL Technologies Ltd. 3.75 GAIL (India) Ltd. 1.07 For switch to Direct Plan: ITC Ltd. 3.67 ING Vysya Bank Ltd. 1.04 - Transaction not routed through Distributor: Nil Maruti Suzuki India Ltd. 3.43 Bharti Airtel Ltd. 0.99 - Transaction routed through Oil & Natural Gas Corporation Ltd. 3.15 Gujarat Pipavav Port Ltd. 0.83 Distributor: Applicable exit Dr. Reddy’s Laboratories Ltd. 3.13 Corporation Bank 0.68 load For switch from Direct Supreme Industries Ltd. 2.73 Pidilite Industries Ltd. 0.50 Plan: Nil D.B.Corp. Ltd. 2.70 City Union Bank Ltd. 0.31 Minimum Investment Tech Mahindra Ltd. 2.65 Cash & Cash Equivalent 2.87 ` 5,000/- & in multiples of Power Grid Corporation of India Ltd. 2.55 Total 100.00 ` 1/- thereafter

Additional Purchase 4 5 ` 1,000/- & in multiples of Sector Classiﬁ cation Dividend Distribution ` 1/- thereafter Record Date Rate Cum-Dividend Inception Date Software 19.61% th (`/ Unit) NAV p.u. (`) 9 August, 2007 Banks 16.89% Petroleum Products 9.11% NAV p.u. (`) As on 31st January, 2014 Dividend Option Consumer Non Durables 8.56% Growth 14.90 30-Dec-10 1.25 13.76 Dividend 13.54 Finance 6.34% Pharmaceuticals 5.83% 5Past performance may or may not be sustained Direct Plan: Construction Project 4.31% in future. Dividend is on face value of `10/- per unit. Growth 15.04 Auto 3.43% After the payment of dividend, the per unit NAV will Dividend 13.65 Telecom - Services 3.21% fall to the extent of dividend payout and applicable statutory levy, if any. Oil 3.15% Portfolio Turnover Ratio 2.73% (1 Year) 0.55 Industrial Products Media & Entertainment 2.70% Risk Ratios3 Power 2.55% Standard Deviation 4.48% Non - Ferrous Metals 2.06% Sharpe Ratio -0.04 Industrial Capital Goods 1.84% Beta 0.84 Engineering Services 1.24% 3Based on 3 years, monthly data Ferrous Metals 1.19% history (Risk-free rate of 8.83% Gas 1.07% based on 91 days T-Bill Rate) Transportation 0.83% Chemicals 0.50% Benchmark Index S&P BSE 100 4Sector Classiﬁ cation as recommended by AMFI. AAUM for the quarter ending December, 2013 ` 31.02 crores

Fund Manager & Experience Vetri Subramaniam Total Experience 21 Years Experience in managing this fund: Since November 9, 2010 Vinay Paharia Total Experience 11 Years Experience in managing this fund: Since November 9, 2010

14 Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer Religare Invesco Equity Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment in focused portfolio of equity and equity-related instruments high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate long term capital Company % of Net Company % of Net growth from a focused portfolio of Assets Assets predominantly equity and equity Equity & Equity Related Instruments 73.07 Maruti Suzuki India Ltd. 4.25 related securities. The Jammu & Kashmir Bank Ltd. 6.21 D.B.Corp. Ltd. 4.00 HDFC Bank Ltd. 6.14 Tata Steel Ltd. 3.68 Key Facts Wipro Ltd. 5.35 Biocon Ltd. 3.07 Bharat Petroleum Corporation Ltd. 5.23 Idea Cellular Ltd. 2.96 Load Structure Entry Load1 Nil ITC Ltd. 4.92 Lupin Ltd. 2.29 Exit Load2 If redeemed/switched-out on Grasim Industries Ltd. 4.90 ING Vysya Bank Ltd. 2.19 or before 1 year from the Dr. Reddy’s Laboratories Ltd. 4.69 Fixed Deposit 1.16 date of allotment : 1% Zee Entertainment Enterprises Ltd. 4.53 Bank Of Nova Scotia 1.16 If redeemed/switched-out Tata Consultancy Services Ltd. 4.40 Cash & Cash Equivalent 25.77 after 1 year from the date of allotment : Nil Tech Mahindra Ltd. 4.27 Total 100.00 Switch between the Plans under the Scheme: 4 For switch to Direct Plan: Sector Classiﬁ cation - Transaction not routed through Distributor: Nil - Transaction routed through Banks 14.54% Distributor: Applicable exit load Software 14.01% For switch from Direct Plan: Nil Pharmaceuticals 10.05%

Minimum Investment Media & Entertainment 8.53% ` 5,000/- & in multiples of ` 1/- thereafter Petroleum Products 5.23%

Additional Purchase Consumer Non Durables 4.92% ` 1,000/- & in multiples of ` 1/- thereafter Cement 4.90%

Inception Date Auto 4.25% 04th October, 2007 Ferrous Metals 3.68% NAV p.u. (`) As on 31st January, 2014 Growth 15.55 Telecom - Services 2.96% Dividend 15.54 Direct Plan: 4Sector Classiﬁ cation as recommended by AMFI. Growth 15.68 Dividend 15.67

Portfolio Turnover Ratio (1 Year) 4.96

Risk Ratios3 Standard Deviation 3.69% Sharpe Ratio -0.0003 Beta 0.64 3Based on 3 years, monthly data history (Risk-free rate of 8.83% based on 91 days T-Bill Rate)

Benchmark Index S&P BSE 100

AAUM for the quarter ending December, 2013 ` 22.99 crores

Fund Manager & Experience Vetri Subramaniam Total Experience 21 Years Experience in managing this fund: Since December 16, 2008

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer 15 Religare Invesco Banking Fund (An Open-Ended Banking Sector Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment predominantly in equity and equity-related instruments of companies engaged in the business of banking and ﬁnancial services high risk (BROWN) *Investors should consult their ﬁnancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate long term capital growth Company % of Net Company % of Net from a portfolio of equity and equity Assets Assets related securities of companies Equity & Equity Related Instruments 96.01 The Jammu & Kashmir Bank Ltd. 3.68 engaged in the business of banking HDFC Bank Ltd. 29.06 City Union Bank Ltd. 3.65 and financial services. ICICI Bank Ltd. 21.59 State Bank of India 3.29 Key Facts The Federal Bank Ltd. 5.69 Indusind Bank Ltd. 2.40 Housing Development Finance Corp. Ltd. 5.08 Sundaram Finance Ltd. 1.61 Load Structure Kotak Mahindra Bank Ltd. 4.99 Corporation Bank 1.58 Entry Load1 Nil Exit Load2 If redeemed/switched-out on ING Vysya Bank Ltd. 4.31 Shriram Transport Finance Company Ltd. 1.10 or before 1 year from the LIC Housing Finance Ltd. 3.99 Cash & Cash Equivalent 3.99 date of allotment : 1% If redeemed/switched-out Axis Bank Ltd. 3.97 Total 100.00 after 1 year from the date of allotment : Nil Switch between the Plans under the Scheme: Sector Classification4 Dividend Distribution5 For switch to Direct Plan: - Transaction not routed through Distributor: Nil Record Date Rate Cum-Dividend - Transaction routed through (`/ Unit) NAV p.u. (`) Distributor: Applicable exit load Banks 84.23% Dividend Option For switch from Direct 3-May-13 2.50 17.79 Plan: Nil 29-Jan-10 2.50 14.18 Minimum Investment 3-Jul-09 0.75 12.78 ` 5,000/- & in multiples of Finance 11.78% Direct Plan - ` 1/- thereafter Dividend Option 3-May-13 2.50 17.79 Additional Purchase ` 1,000/- & in multiples of 5Past performance may or may not be sustained ` 1/- thereafter in future. Dividend is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will 4 Inception Date Sector Classification as recommended by AMFI. fall to the extent of dividend payout and applicable 14th July, 2008 statutory levy, if any.

NAV p.u. (`) As on 31st January, 2014 Growth 19.74 Dividend 13.15 Direct Plan: Growth 19.90 Dividend 13.26

Portfolio Turnover Ratio (1 Year) 1.39

Risk Ratios3 Standard Deviation 7.97% Sharpe Ratio -0.05 Beta 0.89 3Based on 3 years, monthly data history (Risk-free rate of 8.83% based on 91 days T-Bill Rate)

Benchmark Index CNX Bank Index

AAUM for the quarter ending December, 2013 ` 56.87 crores

Fund Manager & Experience Amit Ganatra Total Experience 10 Years Experience in managing this fund: Since November 9, 2010

16 Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer Religare Invesco Business Leaders Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment in equity and equity-related instruments including equity derivatives of companies which in our opinion are leaders in their respective industry or industry segment high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate long term capital Company % of Net Company % of Net appreciation by investing in equity Assets Assets and equity related instruments Equity & Equity Related Instruments 98.81 Idea Cellular Ltd. 1.88 including equity derivatives of companies which in our opinion are ITC Ltd. 9.44 Zee Entertainment Enterprises Ltd. 1.82 leaders in their respective industry or Infosys Ltd. 9.02 Kotak Mahindra Bank Ltd. 1.78 industry segment. Housing Development Finance Corp. Ltd. 8.82 Power Grid Corporation of India Ltd. 1.48 HDFC Bank Ltd. 8.28 Key Facts Tata Steel Ltd. 1.41 Tata Consultancy Services Ltd. 7.27 Crompton Greaves Ltd. 1.15 Reliance Industries Ltd. 6.78 Load Structure NTPC Ltd. 1.14 Entry Load1 Nil ICICI Bank Ltd. 5.30 NMDC Ltd. 1.13 Exit Load2 If redeemed/switched-out on Dr. Reddy’s Laboratories Ltd. 4.71 or before 1 year from the GAIL (India) Ltd. 1.07 Maruti Suzuki India Ltd. 4.16 date of allotment : 1% Titan Company Ltd. 1.01 If redeemed/switched-out Larsen & Toubro Ltd. 3.18 Apollo Hospitals Enterprise Ltd. 0.97 after 1 year from the date of Oil & Natural Gas Corporation Ltd. 2.81 allotment : Nil Bharti Airtel Ltd. 0.96 Wipro Ltd. 2.69 Switch between the Plans Lupin Ltd. 0.54 under the Scheme: Bharat Petroleum Corporation Ltd. 2.66 Siemens Ltd. 0.53 For switch to Direct Plan: Grasim Industries Ltd. 2.65 - Transaction not routed Cash & Cash Equivalent 1.19 through Distributor: Nil Hindustan Zinc Ltd. 2.27 - Transaction routed through D.B.Corp. Ltd. 1.90 Total 100.00 Distributor: Applicable exit load For switch from Direct 4 5 Plan: Nil Sector Classiﬁ cation Dividend Distribution

Minimum Investment Record Date Rate Cum-Dividend ` 5,000/- & in multiples of Software 18.97% ` ` 1/- thereafter Banks 15.36% ( / Unit) NAV p.u. (`) Petroleum Products 9.44% Additional Purchase Consumer Non Durables 9.44% Dividend Option ` 1,000/- & in multiples of Finance 8.82% 22-Oct-10 1.20 13.47 ` 1/- thereafter Pharmaceuticals 5.24% Auto 4.16% 5Past performance may or may not be sustained Inception Date Media & Entertainment 3.72% in future. Dividend is on face value of `10/- per unit. 21st August, 2009 Construction Project 3.18% After the payment of dividend, the per unit NAV will Telecom - Services 2.84% fall to the extent of dividend payout and applicable st statutory levy, if any. NAV p.u. (`) As on 31 January, 2014 Oil 2.81% Growth 13.74 Cement 2.65% Dividend 12.50 Power 2.62% Direct Plan: Non - Ferrous Metals 2.27% Growth 13.86 Industrial Capital Goods 1.68% Dividend 12.60 Ferrous Metals 1.41% Minerals/Mining 1.13% Portfolio Turnover Ratio Gas 1.07% (1 Year) 0.33 Consumer Durables 1.01% Healthcare Services 0.97% Risk Ratios3 Standard Deviation 4.57% Sharpe Ratio -0.06 Beta 0.87 4Sector Classiﬁ cation as recommended by AMFI. 3Based on 3 years, monthly data history (Risk-free rate of 8.83% based on 91 days T-Bill Rate)

Benchmark Index CNX Nifty

AAUM for the quarter ending December, 2013 ` 23.77 crores

Fund Manager & Experience Vetri Subramaniam Total Experience 21 Years Experience in managing this fund: Since August 21, 2009

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer 17 Religare Invesco Infrastructure Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment in equity and equity-related instruments of infrastructure companies high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To provide long term capital Company % of Net Company % of Net appreciation by investing in a Assets Assets portfolio that is predominantly Equity & Equity Related Instruments 99.50 Oil & Natural Gas Corporation Ltd. 1.89 constituted of equity and equity related instruments of infrastructure Larsen & Toubro Ltd. 8.40 Tree House Education & Accessories Ltd. 1.70 companies. Power Grid Corporation of India Ltd. 7.82 Coal India Ltd. 1.70 AIA Engineering Ltd. 6.35 ICICI Bank Ltd. 1.65 Key Facts Gujarat Pipavav Port Ltd. 6.03 Gateway Distriparks Ltd. 1.18 VA Tech Wabag Ltd. 5.37 Texmaco Rail & Engineering Ltd. 1.17 Load Structure Idea Cellular Ltd. 5.30 Bharat Petroleum Corporation Ltd. 1.14 Entry Load1 Nil Sadbhav Engineering Ltd. 4.36 Exit Load2 If redeemed/switched-out on NTPC Ltd. 1.14 Apollo Hospitals Enterprise Ltd. 3.33 or before 1 year from the Gujarat State Petronet Ltd. 1.11 Greaves Cotton Ltd. 3.04 date of allotment : 1% Cummins India Ltd. 1.10 If redeemed/switched-out Amara Raja Batteries Ltd. 2.98 NRB Bearing Ltd. 1.09 after 1 year from the date of Voltas Ltd. 2.92 allotment : Nil IDFC Ltd. 1.05 Kalpataru Power Transmission Ltd. 2.80 Switch between the Plans Grindwell Norton Ltd. 1.00 under the Scheme: Balmer Lawrie & Company Ltd. 2.77 Alstom India Ltd. 0.92 For switch to Direct Plan: Hindustan Zinc Ltd. 2.68 - Transaction not routed Tata Steel Ltd. 0.92 through Distributor: Nil Bharat Forge Ltd. 2.67 Gujarat Mineral Development Corp. Ltd. 0.90 - Transaction routed through Crompton Greaves Ltd. 2.59 Distributor: Applicable exit Supreme Industries Ltd. 2.56 Nesco Ltd. 0.69 load Siemens Ltd. 2.29 ESAB India Ltd. 0.51 For switch from Direct Cash & Cash Equivalent 0.50 Plan: Nil Bharti Airtel Ltd. 2.27 Grasim Industries Ltd. 2.10 Total 100.00 Minimum Investment ` 5,000/- & in multiples of ` 1/- thereafter Sector Classiﬁ cation4 Additional Purchase ` 1,000/- & in multiples of ` 1/- thereafter Construction Project 15.68% Industrial Capital Goods 13.32% Inception Date Industrial Products 11.96% 21st November, 2007 Power 11.77% Transportation 9.98% NAV p.u. (`) As on 31st January, 2014 Telecom - Services 7.58% Growth 6.93 Engineering Services 5.37% Dividend 6.93 Healthcare Services 3.33% Direct Plan: Auto Ancillaries 2.98% Growth 6.99 Non - Ferrous Metals 2.68% Dividend 6.98 Minerals/Mining 2.60% Cement 2.10% Portfolio Turnover Ratio Oil 1.89% (1 Year) 0.50 Diversiﬁed Consumer Services 1.70% Banks 1.65% 3 Risk Ratios Petroleum Products 1.14% Standard Deviation 5.52% Gas 1.11% Sharpe Ratio -0.17 Finance 1.05% Beta 0.67 Ferrous Metals 0.92% 3Based on 3 years, monthly data Commercial Services history (Risk-free rate of 8.83% 0.69% based on 91 days T-Bill Rate)

Benchmark Index 4Sector Classiﬁ cation as recommended by AMFI. CNX Infrastructure Index

AAUM for the quarter ending December, 2013 ` 24.08 crores

Fund Manager & Experience Amit Ganatra Total Experience 10 Years Experience in managing this fund: Since November 9, 2010 Pranav Gokhale Total Experience 10 Years Experience in managing this fund: Since August 14, 2012

18 Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer Religare Invesco Mid N Small Cap Fund (An Open-Ended Equity Scheme)

Suitable for Investors who are seeking* capital appreciation over long-term investment predominantly in equity and equity-related instruments of Mid and Small Cap companies high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To provide long term capital Company % of Net Company % of Net appreciation by investing in a Assets Assets portfolio that is predominantly Equity & Equity Related Instruments 96.42 Grindwell Norton Ltd. 1.97 constituted of equity and equity Britannia Industries Ltd. 5.93 related instruments of mid and small VA Tech Wabag Ltd. 1.83 cap companies. ING Vysya Bank Ltd. 4.50 Apollo Hospitals Enterprise Ltd. 1.65 Tech Mahindra Ltd. 3.96 Gujarat State Petronet Ltd. 1.56 AIA Engineering Ltd. 3.94 Key Facts LIC Housing Finance Ltd. 1.56 Maruti Suzuki India Ltd. 3.81 Sadbhav Engineering Ltd. 1.43 Load Structure Voltas Ltd. 3.46 1 Alstom India Ltd. 1.42 Entry Load Nil D.B.Corp. Ltd. 3.33 Exit Load2 If redeemed/switched-out on Greaves Cotton Ltd. 1.42 or before 1 year from the PI Industries Ltd. 3.20 date of allotment : 1% The Jammu & Kashmir Bank Ltd. 3.19 Tree House Education & Accessories Ltd. 1.24 If redeemed/switched-out Biocon Ltd. 3.09 FAG Bearings India Ltd. 1.15 after 1 year from the date of allotment : Nil IPCA Laboratories Ltd. 2.99 Eros International Media Ltd. 0.99 Switch between the Plans Supreme Industries Ltd. 2.99 Texmaco Rail & Engineering Ltd. 0.99 under the Scheme: The Federal Bank Ltd. 2.98 Whirlpool of India Ltd. 0.95 For switch to Direct Plan: - Transaction not routed Redington (India) Ltd. 2.74 Sundaram Finance Ltd. 0.91 through Distributor: Nil Gujarat Pipavav Port Ltd. 2.57 The Ramco Cements Ltd. 0.86 - Transaction routed through City Union Bank Ltd. 2.49 Distributor: Applicable exit Agro Tech Foods Ltd. 0.84 VIP Industries Ltd. 2.14 load Kalpataru Power Transmission Ltd. 0.58 For switch from Direct Bharat Petroleum Corporation Ltd. 2.14 Corporation Bank 0.54 Plan: Nil Siemens Ltd. 2.12 Pidilite Industries Ltd. 0.51 Minimum Investment Rallis India Ltd. 2.03 ` 5,000/- & in multiples of Bayer CropScience Ltd. 2.02 TV18 Broadcast Ltd. 0.26 ` 1/- thereafter Titan Company Ltd. 2.01 Crompton Greaves Ltd. 0.11 Additional Purchase The Great Eastern Shipping Company Ltd. 1.99 ZF Steering Gear India Ltd. 0.10 ` 1,000/- & in multiples of Mindtree Ltd. 1.99 Cash & Cash Equivalent 3.58 ` 1/- thereafter Gateway Distriparks Ltd. 1.98 Total 100.00 Inception Date 17th March, 2008 4 NAV p.u. (`) As on 31st January, 2014 Sector Classiﬁ cation Growth 18.56 Dividend 18.56 Banks 13.69% Industrial Capital Goods Direct Plan: 8.58% Industrial Products 7.52% Growth 18.72 Pesticides 7.25% Dividend 18.71 Consumer Non Durables 6.77% Transportation 6.54% Portfolio Turnover Ratio Pharmaceuticals 6.09% (1 Year) 0.51 Software 5.95% Consumer Durables 5.10% Risk Ratios3 Construction Project 4.88% Media & Entertainment Standard Deviation 5.06% 4.58% Auto 3.81% Sharpe Ratio 0.05 Trading 2.74% Beta 0.75 Finance 2.46% 3Based on 3 years, monthly data Petroleum Products 2.14% history (Risk-free rate of 8.83% Engineering Services 1.83% based on 91 days T-Bill Rate) Healthcare Services 1.65% Gas 1.56% Benchmark Index Diversiﬁed Consumer Services 1.24% Cement 0.86% CNX Mid Cap Index Power 0.58% Chemicals 0.51% AAUM for the quarter ending Auto Ancillaries 0.10% December, 2013 ` 44.93 crores

Fund Manager & Experience 4 Vinay Paharia Sector Classiﬁ cation as recommended by AMFI. Total Experience 11 Years Experience in managing this fund: Since May 14, 2008

Please refer Inside Back Cover for 1,2 Note on Direct Plan and Disclaimer 19 Religare Invesco Monthly Income Plan (MIP) Plus (An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus. The term ‘Plus’ has been used in terms of the asset allocation and not in terms of returns/yield.) Suitable for Investors who are seeking* regular income over medium to long term provide regular income by investing in ﬁ xed income securities, Gold ETFs and equity & equity related instruments medium risk (YELLOW) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate regular income through CompanyRating % of Net CompanyRating % of Net a portfolio of fi xed income securities, Assets Assets Gold ETFs and equity & equity related instruments. Equity & Equity Related Instruments 18.28 PI Industries Ltd. 0.18 Housing Development Finance Corp. Ltd. 1.61 Hindustan Zinc Ltd. 0.18 Key Facts ITC Ltd. 1.42 Gujarat State Petronet Ltd. 0.17 Infosys Ltd. 1.35 Crompton Greaves Ltd. 0.16 HDFC Bank Ltd. 1.13 Kalpataru Power Transmission Ltd. 0.14 Load Structure ICICI Bank Ltd. 0.86 Entry Load1 Nil Oriental Bank of Commerce 0.12 Tata Consultancy Services Ltd. 0.70 Exit Load2 If redeemed/switched-out on Redington (India) Ltd. 0.12 Wipro Ltd. 0.66 or before 1 year from the VIP Industries Ltd. 0.12 Idea Cellular Ltd. 0.62 date of allotment : 1% Sadbhav Engineering Ltd. 0.11 Reliance Industries Ltd. 0.53 If redeemed/switched-out HSIL Ltd. 0.10 after 1 year from the date of Larsen & Toubro Ltd. 0.46 allotment : Nil The Great Eastern Shipping Company Ltd. 0.44 Money Market Instruments 1.00 Switch between the Plans Bajaj Finance Ltd. 0.43 Certifi cate of Deposit under the Scheme: Britannia Industries Ltd. 0.42 Karur Vysya Bank Ltd. CRISIL A1+ 0.67 For switch to Direct Plan: Biocon Ltd. 0.36 Yes Bank Ltd. ICRA A1+ 0.33 - Transaction not routed Bharti Airtel Ltd. 0.36 Corporate Debt 33.57 through Distributor: Nil Power Grid Corporation of India Ltd. 0.36 Religare Finvest Ltd. ICRA AA- 10.47 - Transaction routed through Dr. Reddy’s Laboratories Ltd. 0.35 Distributor: Applicable exit Oil & Natural Gas Corporation Ltd. 0.34 Shriram Transport Finance load The Jammu & Kashmir Bank Ltd. 0.34 Company Ltd. CRISIL AA 8.73 For switch from Direct D.B.Corp. Ltd. 0.33 Shriram Transport Finance Plan: Nil Apollo Hospitals Enterprise Ltd. 0.31 Company Ltd. CARE AA+ 8.72 VA Tech Wabag Ltd. 0.31 ICICI Home Finance Company Ltd. CARE AAA 4.92 Minimum Investment IPCA Laboratories Ltd. 0.29 Mahindra Vehicle Mfg Ltd. ICRA AA 0.55 Growth Option: Rallis India Ltd. 0.27 LIC Housing Finance Ltd. CRISIL AAA 0.18 ` 5,000/- & in multiples of ` 1/- thereafter NTPC Ltd. 0.26 Mutual Fund/Exchange Traded Dividend Option: Maruti Suzuki India Ltd. 0.25 Fund Units 16.37 ` 25,000/- & in multiples of ` 1/- thereafter Bharat Petroleum Corporation Ltd. 0.25 Religare Invesco Gold Tech Mahindra Ltd. 0.23 Exchange Traded Fund 16.37 Additional Purchase Corporation Bank 0.21 ` ` 1,000/- & in multiples of 1/- thereafter Gujarat Mineral Development Corp. Ltd. 0.21 Government Security 24.86 The Ramco Cements Ltd. 0.21 7.28% GOI (MD 03/06/2019) Sovereign 11.44 Inception Date Gujarat Pipavav Port Ltd. 0.21 8.28% GOI (M/D 21/09/2027) Sovereign 8.15 01st June, 2010 Bharat Forge Ltd. 0.21 8.83% GOI (MD 25/11/2023) Sovereign 5.27 Tata Steel Ltd. 0.20 NAV p.u. (`) As on 31st January, 2014 Cash & Cash Equivalent 5.92 Growth 1,255.9811 Greaves Cotton Ltd. 0.19 Total 100.00 Dividend 1,078.4662 Zee Entertainment Enterprises Ltd. 0.19 Direct Plan: Growth 1,264.1989 Dividend Distribution3 Monthly Dividend 1,062.2221 Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) Benchmark Index 65% - CRISIL MIP Blended Fund Index Individuals/HUF Others 35% - Price of Gold Direct Plan - Dividend Option AAUM for the quarter ending 30-Dec-13 19.98667446 N.A. 1092.4779 December, 2013 ` 66.50 crores 30-Jan-13 0.02986710 N.A. 10.6844 Dividend Option Fund Manager & Experience 27-Feb-13 0.02111065 0.01809397 10.5781 Debt Investments: Sujoy Das 30-Jan-13 0.02986710 0.02559914 10.6804 Total Experience 17 Years 28-Dec-12 0.08527444 0.07308884 10.7058 Experience in managing this fund: 29-Nov-12 0.05482305 0.04698891 10.7712 Since September 9, 2010 3Past performance may or may not be sustained in future. Dividend is on face value of `10/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. After the payment of Equity Investments: dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above Pranav Gokhale table does not include the details of all the dividends declared in the scheme. Total Experience 10 Years Experience in managing this fund: 4YTM 9.85% Since August 14, 2012 Asset Allocation Average Maturity 1557 days Gold ETF Investments: Corporate Debt 33.57% Nitish Sikand Equity Holdings 18.28% Modifi ed Duration 1031 days Total Experience 13 Years Exchange Traded Funds 16.37% Experience in managing this fund: Government Security 24.86% Since August 14, 2012 Money Market Instruments 1.00% Cash & Cash Equivalent 5.92%

20 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Monthly Income Plan (An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus.)

Suitable for Investors who are seeking* regular income over medium to long term provide regular income by investing in high quality ﬁ xed income securities and with a small exposure to equity and equity related instruments medium risk (YELLOW) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate regular income through CompanyRating % of Net CompanyRating % of Net a portfolio of predominantly high Assets Assets quality ﬁ xed income securities and with a small exposure to equity and Equity & Equity Related Instruments 19.25 Gujarat Mineral Development Corp. Ltd. 0.24 equity related instruments. Housing Development Finance Corp. Ltd. 1.68 The Ramco Cements Ltd. 0.22 ITC Ltd. 1.50 Gujarat Pipavav Port Ltd. 0.22 Key Facts Infosys Ltd. 1.35 Bharat Forge Ltd. 0.21 HDFC Bank Ltd. 1.19 Tata Steel Ltd. 0.21 Load Structure ICICI Bank Ltd. 1.15 Greaves Cotton Ltd. 0.20 1 Entry Load Nil Tata Consultancy Services Ltd. 0.74 Zee Entertainment Enterprises Ltd. 0.20 Exit Load2 If redeemed/switched-out on Wipro Ltd. 0.70 Hindustan Zinc Ltd. 0.19 or before 1 year from the Idea Cellular Ltd. 0.68 date of allotment : 1% PI Industries Ltd. 0.19 Reliance Industries Ltd. 0.55 If redeemed/switched-out The Great Eastern Shipping Company Ltd. 0.18 Larsen & Toubro Ltd. 0.49 after 1 year from the date of LIC Housing Finance Ltd. 0.18 Britannia Industries Ltd. 0.44 allotment : Nil Gujarat State Petronet Ltd. 0.17 Switch between the Plans Biocon Ltd. 0.37 Crompton Greaves Ltd. 0.17 under the Scheme: Oil & Natural Gas Corporation Ltd. 0.37 Kalpataru Power Transmission Ltd. 0.14 For switch to Direct Plan: Bharti Airtel Ltd. 0.37 - Transaction not routed Oriental Bank of Commerce 0.13 Dr. Reddy’s Laboratories Ltd. 0.36 through Distributor: Nil Redington (India) Ltd. 0.13 The Jammu & Kashmir Bank Ltd. 0.36 - Transaction routed through VIP Industries Ltd. 0.12 Distributor: Applicable exit Power Grid Corporation of India Ltd. 0.35 HSIL Ltd. 0.11 load D.B.Corp. Ltd. 0.35 Sadbhav Engineering Ltd. 0.10 For switch from Direct Bajaj Finance Ltd. 0.35 Plan: Nil Apollo Hospitals Enterprise Ltd. 0.32 Money Market Instruments 5.68 Certiﬁ cate of Deposit VA Tech Wabag Ltd. 0.32 Minimum Investment Karur Vysya Bank Ltd. CRISIL A1+ 5.68 Growth Option: IPCA Laboratories Ltd. 0.32 Corporate Debt 3.35 ` 5,000/- & in multiples of ` 1/- thereafter Rallis India Ltd. 0.30 Religare Finvest Ltd. ICRA AA- 3.35 NTPC Ltd. 0.27 Dividend Option: Government Security 64.94 8.83% GOI (MD 25/11/2023) Sovereign 33.69 ` 25,000/- & in multiples of ` 1/- thereafter Corporation Bank 0.27 8.28% GOI (M/D 21/09/2027) Sovereign 31.25 Maruti Suzuki India Ltd. 0.26 Additional Purchase Bharat Petroleum Corporation Ltd. 0.26 Cash & Cash Equivalent 6.78 ` ` 1,000/- & in multiples of 1/- thereafter Tech Mahindra Ltd. 0.24 Total 100.00

Inception Date 1st June, 2010 Dividend Distribution3

NAV p.u. (`) As on 31st January, 2014 Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) Growth 1,249.5600 Dividend 1,030.6412 Individuals/HUF Others

Direct Plan: Dividend Option Growth 1,262.2319 30-Oct-13 8.14870250 7.80418127 1051.7276 27-Sep-13 16.64715005 15.94332062 1049.2409 Benchmark Index 30-May-13 5.17371113 4.40823614 1043.5734 CRISIL MIP Blended Fund Index 29-Apr-13 3.91265143 3.33369643 1035.1367 AAUM for the quarter ending 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per December, 2013 ` 14.77 crores unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme. Fund Manager & Experience Debt Investments: 4YTM 9.03% Sujoy Das Asset Allocation Average Maturity 3529 days Total Experience 17 Years Corporate Debt 3.35% Experience in managing this fund: Modiﬁ ed Duration 2097 days Equity Holdings 19.25% Since September 16, 2010 Government Security 64.94% Equity Investments: Money Market Instruments 5.68% Pranav Gokhale Cash & Cash Equivalent 6.78% Total Experience 10 Years Experience in managing this fund: Since August 14, 2012

Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer 21 Religare Invesco Liquid Fund (An Open-Ended Liquid Scheme)

Suitable for Investors who are seeking* regular income over short term provide reasonable returns with high liquidity by investing in money market and debt securities low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To provide reasonable returns, CompanyRating % of Net CompanyRating % of Net commensurate with low risk Assets Assets while providing a high level of Money Market Instruments 94.64 Chennai Petroleum Corporation Ltd. ICRA A1+ 2.73 liquidity, through a portfolio of money Magma Fincorp Ltd. CARE A1+ 2.42 market and debt securities. Certifi cate of Deposit Jindal Steel & Power Ltd. CARE A1+ 2.35 Vijaya Bank CARE A1+ 3.37 India Infoline Finance Ltd. ICRA A1+ 2.35 Indusind Bank Ltd. CRISIL A1+ 3.27 SREI Equipment Finance Ltd. ICRA A1+ 1.57 Key Facts Union Bank of India CRISIL A1+ 3.11 Alkem Laboratories Ltd. CRISIL A1+ 1.57 Bank of Baroda ICRA A1+ 2.74 Aditya Birla Nuvo Ltd. ICRA A1+ 1.57 South Indian Bank Ltd. CARE A1+ 2.44 Load Structure Export Import Bank of India CRISIL A1+ 1.57 Bank of Maharashtra CRISIL A1+ 2.27 Steel Authority of India Ltd. CARE A1+ 1.56 1 Entry Load Nil Axis Bank Ltd. CRISIL A1+ 1.95 Bharat Aluminium Co Ltd. CRISIL A1+ 1.56 Exit Load2 Nil IDBI Bank Ltd. CRISIL A1+ 1.94 Aditya Birla Finance Ltd. ICRA A1+ 1.56 Andhra Bank CARE A1+ 1.88 Piramal Enterprises Ltd. ICRA A1+ 1.56 Punjab National Bank CARE A1+ 1.72 Reliance Capital Ltd. CRISIL A1+ 1.49 Minimum Investment Canara Bank CRISIL A1+ 1.56 JSW Steel Ltd. CARE A1+ 0.79 Bank of India CRISIL A1+ 1.56 ` 5,000/- & in multiples of Afcons Infrastructure ICRA A1+ 0.78 Andhra Bank ICRA A1+ 1.49 Tube Investments of India Ltd. CRISIL A1+ 0.78 ` 1/- thereafter Yes Bank Ltd. ICRA A1+ 1.31 Cholamandalam Investment and Kotak Mahindra Bank Ltd. CRISIL A1+ 0.78 Finance Company Ltd. ICRA A1+ 0.78 Punjab National Bank CRISIL A1+ 0.78 Additional Purchase Sundaram Finance Ltd. ICRA A1+ 0.78 Oriental Bank of Commerce CRISIL A1+ 0.52 Tata Capital Financial Services Ltd. ICRA A1+ 0.08 ` 1,000/- & in multiples of ICICI Bank Ltd. ICRA A1+ 0.51 Corporation Bank CRISIL A1+ 0.39 Treasury Bill ` 1/- thereafter Allahabad Bank ICRA A1+ 0.39 182 Days Tbill (MD 14/02/2014) Sovereign 3.92 Central Bank of India CARE A1+ 0.39 364 Days Tbill (MD 20/02/2014) Sovereign 2.03 91Days Tbill (MD 13/02/2014) Sovereign 1.57 Inception Date State Bank of Patiala ICRA A1+ 0.39 Central Bank of India CRISIL A1+ 0.39 182 DAYS TBILL (MD 13/03/2014) Sovereign 1.56 17th November, 2006 UCO Bank CRISIL A1+ 0.39 91Days Tbill (MD 20/03/2014) Sovereign 1.55 Allahabad Bank CARE A1+ 0.23 182 Days TBill (MD 27/03/2014) Sovereign 1.55 Ratnakar Bank Ltd. ICRA A1+ 0.08 Corporate Debt 0.43 ` st NAV p.u. ( ) As on 31 January, 2014 Tamilnad Mercantile Bank CRISIL A1+ 0.05 Indiabulls Housing Finance Ltd. CARE AA+ 0.43 Growth 1,737.8773 Commercial Paper Fixed Deposits 1.10 Daily Dividend 1,001.0800 Indiabulls Housing Finance Ltd. CRISIL A1+ 7.79 Vijaya Bank 0.63 Sesa Sterlite Ltd. CRISIL A1+ 3.91 Kotak Mahindra Bank Ltd. 0.47 Weekly Dividend 1,002.4178 Indian Oil Corporation Ltd. ICRA A1+ 3.88 Cash & Cash Equivalent 3.83 Monthly Dividend 1,003.1810 Talwandi Sabo Power Ltd. CRISIL A1+ 3.12 Total 100.00 Bonus 1,737.8799 Direct Plan: Dividend Distribution3 Growth 1,738.9137 Daily Dividend 1,000.7900 Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) Weekly Dividend 1,001.4439 Individuals/HUF Others Monthly Dividend 1,003.1829 Direct Plan - Monthly Dividend Bonus 1,738.9353 30-Jan-14 5.88221648 NA 1010.4980 30-Dec-13 6.2118673 NA 1010.9212 Regular Plan: 28-Nov-13 5.82884247 NA 1010.4281 Growth 1,653.9505 30-Oct-13 7.26495167 NA 1012.2712 Weekly Dividend 1,001.5599 Monthly Dividend 30-Jan-14 5.83502341 NA 1010.4379 Institutional Plan: 30-Dec-13 6.16366941 NA 1010.8591 Growth 1,692.9626 28-Nov-13 5.78494169 5.53944652 1010.3720 Daily Dividend 1,000.2300 30-Oct-13 7.21224119 NA 1012.2046 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. Benchmark Index The above table does not include the details of all the dividends declared in the scheme. CRISIL Liquid Fund Index Rating Profi le Maturity Profi le AAUM for the quarter ending CRISIL A1+, CARE A1+, ICRA A1+ 82.46% < 31 days 56.67% December, 2013 ` 5,221.27 crores CARE AA+ 0.43% 31 - 90 days 39.50% Fixed Deposits 1.10% Cash & Cash Equivalent 3.83% Fund Manager & Experience Sovereign 12.18% Krishna Cheemalapati Cash & Cash Equivalent 3.83% Total Experience 15 Years 4YTM 8.68% Experience in managing this fund: Average Maturity 25 days Since April 25, 2011 Modifi ed Duration 23 days

22 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Ultra Short Term Fund (An Open-Ended Debt Scheme)

Suitable for Investors who are seeking* regular income over short term provide optimal returns while maintaining balance between safety and liquidity by investing in a mix of short term debt and money market instruments low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To provide liquidity and optimal CompanyRating % of Net CompanyRating % of Net returns to the investor by investing Assets Assets primarily in a mix of short term debt and money market instruments Money Market Instruments 56.65 Talwandi Sabo Power Ltd. CRISIL A1+ 5.31 which results in a portfolio having Certifi cate of Deposit SREI Equipment Finance Ltd. CARE A1+ 1.77 marginally higher maturity and Punjab National Bank CARE A1+ 14.16 IL&FS Financial Services Ltd. IND A1+ 0.10 moderately higher credit risk as Axis Bank Ltd. CRISIL A1+ 8.85 Corporate Debt 17.69 Bank of Maharashtra CRISIL A1+ 8.83 compared to a liquid fund at the LIC Housing Finance Ltd. CRISIL AAA 17.69 Karur Vysya Bank Ltd. ICRA A1+ 8.82 same time maintaining a balance Cash & Cash Equivalent 25.66 between safety and liquidity. Commercial Paper Sesa Sterlite Ltd. CRISIL A1+ 8.82 Total 100.00 Key Facts 3 Load Structure Dividend Distribution Entry Load1 Nil Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) Exit Load2 Nil Individuals/HUF Others Minimum Investment ` 5,000/- & in multiples of Direct Plan - Monthly Dividend ` 1/- thereafter 27-Feb-13 10.07359678 N.A. 1020.5484 Monthly Dividend Additional Purchase 30-Jan-14 5.89784670 5.64849002 1034.4943 ` 1,000/- & in multiples of 30-Dec-13 6.01191654 5.75773707 1034.8200 ` 1/- thereafter 28-Nov-13 4.66475536 N.A. 1033.0550 30-Oct-13 10.12682654 N.A. 1039.9689 Inception Date Discretionary Dividend 18th January, 2007 16-Jan-12 N.A. 23.73203670 1031.4432 26-Sep-11 N.A. 2.55872220 1006.0226 NAV p.u. (`) As on 31st January, 2014 21-Jul-11 N.A. 6.70331059 1008.8782 Growth 1,741.5257 Regular Plan - Monthly Dividend Daily Dividend 1,001.7200 30-Jan-14 3.29212106 N.A. 1041.3445 Weekly Dividend 1,022.1317 30-Dec-13 5.43463791 N.A. 1041.6737 Monthly Dividend 1,027.1402 28-Nov-13 3.30236228 N.A. 1038.9073 Discretionary Dividend 1,111.3430 30-Oct-13 4.30376570 N.A. 1039.0372 Bonus 1,117.9610 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable Direct Plan: statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme. Growth 1,748.3467 Daily Dividend 1,005.9100 Weekly Dividend 1,020.9305 Rating Profi le Maturity Profi le Monthly Dividend 1,096.5633 CRISIL A1+, CARE A1+, ICRA A1+, 56.65% < 31 days 28.31% Discretionary Dividend 1,115.8884 IND A1+ 31 - 90 days 28.24% Bonus 1,122.5097 CRISIL AAA 17.69% 181 days - 1 year 17.79% Cash & Cash Equivalent 25.66% Regular Plan: Cash & Cash Equivalent 25.66% Growth 1,658.7155 Daily Dividend 1,050.3452 Weekly Dividend 1,027.8645 4YTM 8.64% Monthly Dividend 1,037.3013 Average Maturity 55 days Bonus 1,599.6143 Modifi ed Duration 51 days

Benchmark Index CRISIL Liquid Fund Index

AAUM for the quarter ending December, 2013 ` 175.76 crores

Fund Manager & Experience Krishna Cheemalapati Total Experience 15 Years Experience in managing this fund: Since January 1, 2013

Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer 23 Religare Invesco Short Term Fund (An Open-Ended Income Scheme)

Suitable for Investors who are seeking* regular income over short to medium term provide steady returns by investing in short-medium term debt and money market instruments. low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate steady returns with CompanyRating % of Net CompanyRating % of Net a moderate risk for investors by Assets Assets investing in a portfolio of short- medium term debt and money Corporate Debt 89.56 Shriram Transport Finance market instruments. LIC Housing Finance Ltd. CRISIL AAA 13.11 Company Ltd. CARE AA+ 2.41 Housing Development Finance Key Facts Power Finance Corporation Ltd. CRISIL AAA 11.41 Power Grid Corporation of Corp. Ltd. CRISIL AAA 2.40 Load Structure India Ltd. CRISIL AAA 9.55 Petronet LNG Ltd. ICRA AA+ 1.64 1 Entry Load Nil Rural Electriﬁ cation Shriram Transport Finance 2 Exit Load If redeemed/switched-out on Company Ltd. CRISIL AA 1.38 or before 30 days from the Corporation Ltd. CRISIL AAA 8.57 Tata Motors Ltd. CRISIL AAA 0.93 date of allotment : 0.25% National Bank For Agriculture If redeemed/switched-out Shriram City Union Finance Ltd. CARE AA 0.52 and Rural Development CRISIL AAA 7.22 after 30 days from the date Tata Motors Finance Ltd. CRISIL AA 0.34 of allotment : Nil Export Import Bank of India CRISIL AAA 5.82 Switch between the Plans Indiabulls Housing Finance Ltd. CARE AA+ 4.32 Money Market Instruments 6.53 under the Scheme: Commercial Paper For switch to Direct Plan: IDFC Ltd. ICRA AAA 3.45 - Transaction not routed Power Finance Corporation Ltd. ICRA AAA 3.45 Sesa Sterlite Ltd. CRISIL A1+ 6.46 through Distributor: Nil Cholamandalam Investment - Transaction routed through LIC Housing Finance Ltd. CARE AAA 3.44 Distributor: Applicable exit Magma Fincorp Ltd. CARE AA+ 3.42 and Finance Company Ltd. CRISIL A1+ 0.07 load Steel Authority of India Ltd. CARE AAA 3.40 Cash & Cash Equivalent 3.91 For switch from Direct Plan: Nil L&T Finance Ltd. ICRA AA+ 2.76 Total 100.00

Minimum Investment ` 5,000/- & in multiples of 3 ` 1/- thereafter Dividend Distribution ` ` Additional Purchase Record Date Rate ( /Unit) Cum-Dividend NAV p. u. ( ) ` 1,000/- & in multiples of Individuals/HUF Others ` 1/- thereafter Direct Plan - Monthly Dividend Inception Date 30-Jan-14 4.80483148 4.60168669 1056.5158 24th March, 2007 30-Dec-13 5.84079486 5.59385029 1057.8452 28-Nov-13 2.85408143 N.A. 1054.0125 ` st NAV p.u. ( ) As on 31 January, 2014 30-Oct-13 9.63233976 N.A. 1062.7107 Growth 1,670.9680 Daily Dividend 1,003.6669 Monthly Dividend 30-Jan-14 4.00132476 3.83215165 1052.5547 Weekly Dividend 1,017.1813 30-Dec-13 4.96068576 4.75095156 1053.7858 Monthly Dividend 1,047.4222 28-Nov-13 2.07184882 1.98425256 1050.0787 Discretionary Dividend 1,084.9780 30-Oct-13 8.75075005 8.38077468 1058.6494 Direct Plan: Plan B - Monthly Dividend Growth 1,686.4529 29-Apr-13 14.15411326 12.05962963 1086.3887 Daily Dividend 1,001.8116 26-Mar-13 0.06962017 0.0596714 10.7813 27-Feb-13 0.01316549 0.01128417 10.7172 Weekly Dividend 1,017.3090 30-Jan-13 0.07628689 0.06538558 10.7889 Monthly Dividend 1,050.3836 30-Jan-13 0.07628689 0.06538558 10.7889 Discretionary Dividend 1,105.7140 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face Bonus 1,686.4979 value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior ` Plan B: to face value change is on face value of 10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all Growth 1,664.6618 the dividends declared in the scheme. Daily Dividend 1,029.9595 Weekly Dividend 1,013.6986 Monthly Dividend 1,107.3070 Rating Profi le Maturity Profi le Benchmark Index CRISIL AAA, CARE AAA, ICRA AAA 72.76% 31 - 90 days 3.76% CRISIL Short Term Bond Fund Index CRISIL A1+ 6.53% 91 - 180 days 13.79% 181 days - 1 year 41.25% CARE AA+, ICRA AA+ 14.55% 1 - 2 years 12.68% AAUM for the quarter ending CRISIL AA, CARE AA 2.25% December, 2013 ` 2,025.84 crores 2 - 3 years 20.94% Cash & Cash Equivalent 3.91% 3 - 5 years 3.67% Fund Manager & Experience Cash & Cash Equivalent 3.91% Sujoy Das Total Experience 17 Years 4YTM 9.85% Experience in managing this fund: Average Maturity 492 days Since September 9, 2010 Modifi ed Duration 417 days

24 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Credit Opportunities Fund (An Open-Ended Income Scheme)

Suitable for Investors who are seeking* regular income over short to medium term provide high level of current income (vis-à-vis treasury bills) by investing in investment-grade low duration debt securities and money market instruments low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate high level of current CompanyRating % of Net CompanyRating % of Net income (vis-a-vis treasury bills) Assets Assets consistent with preservation of capital and maintenance of liquidity Money Market Instruments 95.95 Rohit Surfactants Pvt Ltd. CRISIL A1+ 3.07 by investing primarily in investment- Redington (India) Ltd. ICRA A1+ 3.06 grade debt securities and money Commercial Paper Liberty Phosphate Ltd. CRISIL A1+ 2.46 market instruments. Talwandi Sabo Power Ltd. CRISIL A1+ 9.82 Muthoot Finance Ltd. CRISIL A1+ 9.17 Transport Corporation Of India Ltd. ICRA A1+ 2.46 Key Facts Alkem Laboratories Ltd. CRISIL A1+ 7.38 Magma ITL Finance Ltd. CARE A1+ 2.46 Eros International Media Ltd. CARE A1+ 6.19 TVS Credit Services BWR A1+ 2.45 Load Structure SREI Equipment Finance Ltd. ICRA A1+ 6.19 India Infoline Finance Ltd. ICRA A1+ 1.86 Entry Load1 Nil HSIL Ltd. CARE A1+ 6.17 NRB Bearing Ltd. CRISIL A1+ 1.85 Exit Load2 If redeemed/switched-out on ECL Finance Ltd. CRISIL A1+ 6.16 National Engineering or before 1 month from the EID Parry India Ltd. CRISIL A1+ 6.10 Industries Ltd. CARE A1+ 1.24 date of allotment : 0.25% Manaksia Ltd. CARE A1+ 5.51 If redeemed/switched-out Corporate Debt 3.41 JSW Steel Ltd. CARE A1+ 3.10 after 1 month from the date Indiabulls Housing Finance Ltd. CARE AA+ 3.41 Sadashiva Sugars Ltd. CRISIL A1+ 3.09 of allotment : Nil Cash & Cash Equivalent 0.64 Switch between the Plans Bajaj Electricals Ltd. ICRA A1+ 3.07 under the Scheme: JK Cement Ltd. CARE A1+ 3.07 Total 100.00 For switch to Direct Plan: - Transaction not routed through Distributor: Nil 3 - Transaction routed through Dividend Distribution Distributor: Applicable exit Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) load For switch from Direct Individuals/HUF Others Plan: Nil Direct Plan - Monthly Dividend Minimum Investment 30-Jan-14 6.25349698 5.98910366 1025.7748 ` 5,000/- & in multiples of 30-Dec-13 6.53668420 6.26031793 1026.1382 ` 1/- thereafter 28-Nov-13 6.17744789 5.91626987 1025.6772 Additional Purchase 30-Oct-13 7.82363530 7.49285768 1027.7897 ` 1,000/- & in multiples of Monthly Dividend ` 1/- thereafter 30-Jan-14 6.08626534 5.82894246 1025.5602 Inception Date 30-Dec-13 6.36056887 6.09164863 1025.9122 28th August, 2009 28-Nov-13 5.97496980 5.72235241 1025.4174 30-Oct-13 7.58308981 7.26248227 1027.4810 NAV p.u. (`) As on 31st January, 2014 Growth 1,434.7955 Discretionary Dividend Daily Dividend 1,000.2900 31-May-12 N.A. 0.25157612 10.3544 Monthly Dividend 1,017.9973 Regular Plan - Monthly Dividend Direct Plan: 30-Jan-14 5.18776544 4.96843048 1027.7372 Growth 1,438.8897 30-Dec-13 5.43362556 5.20389581 1028.0527 Daily Dividend 1,000.2900 Monthly Dividend 1,018.0018 28-Nov-13 5.16930450 4.95075006 1027.7135 Discretionary Dividend 1,110.8242 30-Oct-13 6.70676018 6.42320322 1029.6865 Bonus 1,438.8852 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face Regular Plan: value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior Growth 1,384.2419 to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to Daily Dividend 1,002.0000 the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme. Monthly Dividend 1,021.2903 Bonus 1,434.7920 Rating Profi le Maturity Profi le Benchmark Index CRISIL Short Term Bond Fund Index CRISIL A1+, CARE A1+, ICRA A1+, 95.95% < 31 days 48.50% BWR A1+ 31 - 90 days 50.86% AAUM for the quarter ending CARE AA+ 3.41% Cash & Cash Equivalent 0.64% December, 2013 ` 870.63 crores Cash & Cash Equivalent 0.64% Fund Manager & Experience 4 Nitish Sikand YTM 9.46% Total Experience 13 Years Average Maturity 31 days Experience in managing this fund: Modifi ed Duration 28 days Since August 28, 2009

Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer 25 Religare Invesco Medium Term Bond Fund (An Open-Ended Income Scheme)

Suitable for Investors who are seeking* regular income over medium term provide regular income and capital appreciation by investing in medium term debt and money market instruments having residual maturity upto 5 years low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate regular income and CompanyRating % of Net CompanyRating % of Net capital appreciation by investing in a Assets Assets portfolio of medium term debt and money market instruments. Corporate Debt 15.10 Commercial Paper Power Finance Corporation Ltd. CRISIL AAA 10.27 Mahindra & Mahindra Lafarge India Ltd. IND AA+ 3.89 Financial Services Ltd. CARE A1+ 11.88 Key Facts Rural Electrifi cation Sundaram Finance Ltd. CRISIL A1+ 7.87 Corporation Ltd. CRISIL AAA 0.78 India Infoline Finance Ltd. ICRA A1+ 5.54 Load Structure Export Import Bank of India CRISIL AAA 0.16 Cash & Cash Equivalent 47.73 1 Entry Load Nil Money Market Instruments 37.17 Total 100.00 Exit Load2 If redeemed/switched-out on Certifi cate of Deposit or before 45 days from the Central Bank of India CRISIL A1+ 11.88 date of allotment : 0.50% If redeemed/switched-out after 45 days from the date Dividend Distribution3 of allotment : Nil Switch between the Plans Rate (`/Unit) Cum-Dividend NAV p. u. (`) under the Scheme: Individuals/HUF Others For switch to Direct Plan: Record Date - Transaction not routed Direct Plan - Monthly Dividend through Distributor: Nil 30-May-13 11.14546757 N.A. 1021.5638 - Transaction routed through 29-Apr-13 11.45890764 N.A. 1021.8878 Distributor: Applicable exit 26-Mar-13 0.04590834 N.A. 10.1403 load 27-Feb-13 0.05294113 N.A. 10.1484 For switch from Direct Monthly Dividend Plan: Nil 30-Jan-14 1.62101139 1.55247621 1034.3683 30-May-13 10.70684257 9.12246332 1021.0632 Minimum Investment 29-Apr-13 10.42602755 8.88320145 1020.7426 ` 5,000/- & in multiples of 26-Mar-13 0.03781638 0.03241240 10.1313 ` 1/- thereafter Direct Plan - Quarterly Dividend 17-Jun-13 23.34655298 N.A. 1053.7695 Additional Purchase 15-Mar-13 0.12897476 N.A. 10.4107 ` 1,000/- & in multiples of Quarterly Dividend ` 1/- thereafter 17-Jun-13 17.39434328 16.65892306 1048.7447 15-Mar-13 0.12988965 0.11132206 10.3858 Inception Date 17-Dec-12 0.23458690 0.20106945 10.4586 30th December, 2010 17-Sep-12 0.11539995 0.09890957 10.3806 Direct Plan - Annual Dividend NAV p.u. (`) As on 31st January, 2014 15-Mar-13 0.13785312 N.A. 11.1275 Growth 1,256.8906 Annual Dividend Monthly Dividend 1,032.4790 15-Mar-13 0.65716206 N.A. 11.1009 Quarterly Dividend 1,052.9879 15-Mar-12 0.62976036 0.53977281 10.9104 Annual Dividend 1,088.1350 15-Mar-11 0.06061157 N.A. 10.1221 Bonus 1,256.8656 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared Direct Plan: prior to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall Growth 1,266.8861 to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details Monthly Dividend 1,038.2877 of all the dividends declared in the scheme. Quarterly Dividend 1,053.9205 Annual Dividend 1,159.4381 Rating Profi le Maturity Profi le Bonus 1,266.9052 CRISIL A1+, CARE A1+, ICRA A1+ 37.17% < 31 days 29.30% CRISIL AAA 11.21% 31 - 90 days 7.87% Benchmark Index IND AA+ 3.89% 181 days - 1 year 0.16% CRISIL Composite Bond Fund Index Cash & Cash Equivalent 47.73% 1 - 2 years 10.27% 2 - 3 years 4.67% AAUM for the quarter ending Cash & Cash Equivalent 47.73% December, 2013 ` 648.44 crores 4YTM 8.54% Fund Manager & Experience Average Maturity 111 days Nitish Sikand Modifi ed Duration 94 days Total Experience 13 Years Experience in managing this fund: Since December 30, 2010

26 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Active Income Fund (An Open-Ended Income Scheme)

Suitable for Investors who are seeking* regular income over medium to long term provide optimal returns while maintaining liquidity through actively managed portfolio of debt and money market instruments low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate optimal returns while CompanyRating % of Net CompanyRating % of Net maintaining liquidity through active Assets Assets management of the portfolio by investing in debt and money market Corporate Debt 46.69 Steel Authority of India Ltd. CARE AAA 2.29 instruments. As the portfolio of the Housing Development Finance Indiabulls Housing Finance Ltd. CARE AA+ 1.41 scheme will be actively managed, the Corp. Ltd. CRISIL AAA 12.07 Power Grid Corporation Scheme may have a high turnover National Housing Bank CRISIL AAA 7.00 of India Ltd. CRISIL AAA 0.92 in order to achieve the investment Airport Authority of India Ltd. CRISIL AAA 5.58 Power Finance Corporation Ltd. ICRA AAA 0.19 objective. LIC Housing Finance Ltd. CRISIL AAA 4.70 Government Security 47.14 National Bank For Agriculture Key Facts 8.83% GOI (MD 25/11/2023) Sovereign 23.18 and Rural Development CRISIL AAA 3.76 8.28% GOI (M/D 21/09/2027) Sovereign 21.50 Small Industries Dev Bank of India CARE AAA 3.75 Load Structure 7.28% GOI (MD 03/06/2019) Sovereign 2.46 Reliance Utilities & Power Pvt Ltd. CRISIL AAA 2.60 1 Cash & Cash Equivalent 6.17 Entry Load Nil Rural Electriﬁ cation Exit Load2 Nil Corporation Ltd. CRISIL AAA 2.42 Total 100.00

Minimum Investment Dividend Distribution3 ` 5,000/- & in multiples of ` 1/- thereafter Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) Additional Purchase Individuals/HUF Others ` 1,000/- & in multiples of ` 1/- thereafter Direct Plan - Monthly Dividend 30-May-13 25.62679097 21.83466708 1108.7063 29-Apr-13 15.42897466 13.14585883 1097.0641 Inception Date 27-Feb-13 0.07784125 0.06671762 10.8829 30-Jan-13 0.06351384 N.A. 10.8666 02nd August, 2007 Monthly Dividend 30-May-13 24.84067055 21.16480139 1100.4287

st 29-Apr-13 14.20182075 12.10027173 1088.2832 NAV p.u. (`) As on 31 January, 2014 27-Feb-13 0.07400647 0.063431 10.8048 Growth 1,455.7443 30-Jan-13 0.12516763 0.10728137 10.8628 Direct Plan - Annual Dividend Monthly Dividend 1,071.0581 15-Mar-13 1.57136968 N.A. 13.9281 Quarterly Dividend 1,007.0342 Annual Dividend 15-Mar-12 0.81094060 N.A. 11.1651 Annual Dividend 1,280.3600 15-Mar-11 0.39547700 N.A. 10.6527 Discretionary Dividend 1,076.5060 15-Mar-10 0.01400000 0.01300000 10.0251 Bonus 1,081.7372 Direct Plan - Quarterly Dividend 15-Mar-13 0.13645317 0.00000000 10.3162 Direct Plan: Quarterly Dividend Growth 1,464.7232 15-Mar-13 0.25194041 0.00000000 10.3061 15-Sep-12 0.23035807 0.00000000 10.3492 Monthly Dividend 1,082.9433 15-Jun-12 0.23079458 0.00000000 10.3554 15-Mar-12 0.19168513 0.00000000 10.2854 Quarterly Dividend 1,018.1882 Discretionary Dividend Annual Dividend 1,271.3280 27-Jun-12 N.A. 0.45192015 10.6326 Discretionary Dividend 1,085.5827 Plan B - Monthly Dividend 30-Jul-12 0.07448179 0.063792 10.9225 Bonus 1,088.8536 28-Feb-12 0.11589883 0.09920477 10.6358 28-Oct-11 0.03707525 0.03177745 10.4009 Plan B: 28-Sep-11 0.04384749 0.03758136 10.4085 Growth 1,309.5118 Plan B - Quarterly Dividend 15-Mar-13 0.2299179 0.00000000 10.3226 Monthly Dividend 1,183.5996 15-Sep-12 0.163937603 0.00000000 10.2782 15-Jun-12 0.05728105 0.00000000 10.1165 15-Mar-11 N.A. 0.12951819 10.4092 Benchmark Index 3 ` CRISIL Composite Bond Fund Index Past performance may or may not be sustained in future. Dividend is on face value of 1000/- per unit. Face value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall AAUM for the quarter ending to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details December, 2013 ` 1,195.04 crores of all the dividends declared in the scheme.

Fund Manager & Experience Rating Profi le Maturity Profi le Sujoy Das CRISIL AAA, CARE AAA, ICRA AAA 45.28% 91 - 180 days 0.65% Total Experience 17 Years CARE AA+ 1.41% 181 days - 1 year 12.16% Experience in managing this fund: Sovereign 47.14% 1 - 2 years 8.45% Cash & Cash Equivalent 6.17% 2 - 3 years 19.49% Since September 9, 2010 3 - 5 years 3.34% 4YTM 9.34% 5 - 10 years 28.24% Average Maturity 2429 days 10 - 15 years 21.50% Modifi ed Duration 1522 days Cash & Cash Equivalent 6.17%

Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer 27 Religare Invesco Bank Debt Fund (An Open-Ended Debt Scheme)

Suitable for Investors who are seeking* regular income over short to medium term provide optimal returns by investing in debt and money market instruments issued primarily by banks low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate optimal returns by CompanyRating % of Net CompanyRating % of Net investing in a portfolio of debt & Assets Assets money market instruments issued primarily by banks. Corporate Debt 24.53 Money Market Instruments 74.68 Power Finance Corporation Ltd. CRISIL AAA 10.93 Certiﬁ cate of Deposit Punjab National Bank ICRA AAA 2.71 Allahabad Bank ICRA A1+ 13.66 Key Facts Rural Electriﬁ cation Indian Bank IND A1+ 13.58 Corporation Ltd. CRISIL AAA 2.70 Canara Bank CRISIL A1+ 9.46 Load Structure State Bank of India CRISIL AAA 2.69 Bank of India CRISIL A1+ 6.79 Entry Load1 Nil State Bank of Bikaner and Corporation Bank CRISIL A1+ 6.78 Exit Load2 If redeemed/switched-out on Jaipur CRISIL AAA 1.35 Bank of Baroda CRISIL A1+ 6.78 or before 1 year from the Punjab National Bank CRISIL AAA 1.35 Andhra Bank CARE A1+ 6.78 State Bank of Hyderabad ICRA A1+ 6.78 date of allotment : 1% Bank of Baroda CRISIL AAA 1.35 Allahabad Bank CARE A1+ 4.07 If redeemed/switched-out State Bank of Mysore CRISIL AAA 1.34 Cash & Cash Equivalent 0.79 after 1 year from the date of IDFC Ltd. ICRA AAA 0.05 allotment : Nil Union Bank of India CRISIL AAA 0.05 Total 100.00 Switch between the Plans under the Scheme: 3 For switch to Direct Plan: Dividend Distribution - Transaction not routed Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`) through Distributor: Nil - Transaction routed through Individuals/HUF Others Distributor: Applicable exit load Direct Plan - Monthly Dividend For switch from Direct 30-Jan-14 5.28938243 5.06575118 1016.7876 Plan: Nil 30-Dec-13 6.20409117 5.9417867 1017.9614 28-Nov-13 3.12723164 2.99501455 1014.0130 Minimum Investment 30-Oct-13 9.01973115 8.63838346 1021.5746 ` 5,000/- & in multiples of Monthly Dividend ` 1/- thereafter 30-Jan-14 4.61671537 4.42152399 1015.9244 30-Dec-13 5.50890318 5.27599075 1017.0693 Additional Purchase 28-Nov-13 2.49974674 2.39405926 1013.2078 ` 1,000/- & in multiples of 30-Oct-13 8.30040912 7.94947384 1020.6515 ` 1/- thereafter 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. After Inception Date the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if 29th December, 2012 any. The above table does not include the details of all the dividends declared in the scheme.

NAV p.u. (`) As on 31st January, 2014 Growth 1,079.3047 Rating Profi le Maturity Profi le Daily Dividend 1,003.2794 CRISIL A1+, CARE A1+, ICRA A1+, 74.68% < 31 days 13.66% Monthly Dividend 1,010.1116 IND A1+ 31 - 90 days 61.02% Bonus 1,079.2784 CRISIL AAA, ICRA AAA 24.53% 1 - 2 years 2.83% Direct Plan: Cash & Cash Equivalent 0.79% 2 - 3 years 21.70% Growth 1,091.2496 Cash & Cash Equivalent 0.79% Daily Dividend 1,003.3864 Monthly Dividend 1,010.1392 4YTM 8.79% Bonus 1,091.2495 Average Maturity 320 days Modifi ed Duration 251 days Benchmark Index CRISIL Short Term Bond Fund Index

AAUM for the quarter ending December, 2013 ` 362.54 crores

Fund Manager & Experience Nitish Sikand Total Experience 13 Years Experience in managing this fund: Since December 29, 2012

28 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Gold Fund (An Open-Ended Fund of Funds Scheme)

Suitable for Investors who are seeking* regular income and capital appreciation over medium to long-term investment in units of Religare Invesco Gold ETF, which in turn invests in physical gold high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To provide returns that closely Company Rating % of Net corresponds to returns provided Assets by Religare Invesco Gold Exchange Traded Fund Exchange Traded Funds 100.89 Key Facts Religare Invesco Gold Exchange Traded Fund 100.89 Cash & Cash Equivalent -0.89 Load Structure Total 100.00 Entry Load1 Nil Exit Load2 If redeemed/switched-out on or before 6 months from the Asset Allocation date of allotment : 2% Exchange Traded Funds 100.89% If redeemed/switched-out Cash & Cash Equivalent -0.89% after 6 months but on or before from the date of allotment : 1% The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme. If redeemed/switched-out after 1 year from the date of allotment : Nil Switch between the Plans under the Scheme: For switch to Direct Plan: - Transaction not routed through Distributor: Nil - Transaction routed through Distributor: Applicable exit load For switch from Direct Plan: Nil

Minimum Investment ` 5,000/- & in multiples of ` 1/- thereafter

Additional Purchase ` 1,000/- & in multiples of ` 1/- thereafter

Inception Date 5th December, 2011

NAV p.u. (`) As on 31st January, 2014 Growth 9.8506 Dividend 9.8500

Direct Plan: Growth 9.8771 Dividend 9.8766

Benchmark Index Price of Gold

AAUM for the quarter ending December, 2013 ` 27.37 crores

Fund Manager & Experience Nitish Sikand Total Experience 13 Years Experience in managing this fund: Since December 5, 2011

Please refer Inside Back Cover for 1,2, Note on Direct Plan and Disclaimer 29 Religare Invesco Overnight Fund (An Open-Ended Liquid Scheme)

Suitable for Investors who are seeking* optimal returns over very short duration mirroring overnight return by investing in CBLO, reverse repos, debt and money market instruments low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio Rating % of Net Assets To provide liquidity to the investors Company % of Net while mirroring overnight returns. Assets

Key Facts Cash & Cash Equivalent 100.00* Total 100.00 Load Structure Entry Load1 Nil *This includes deployment of Rs. 10.39 crores in Collateralized Borrowing & Lending Exit Load2 Nil Obligation (CBLO).

Minimum Investment 4YTM 7.56% ` 5,000/- & in multiples of Average Maturity 1 day ` 1/- thereafter Modiﬁ ed Duration 1 day

Additional Purchase ` 1,000/- & in multiples of ` 1/- thereafter

Inception Date 14th September, 2007

NAV p.u. (`) As on 31st January, 2014 Growth 1,484.7011 Daily Dividend Reinvestment 1,001.4486 Bonus 1,484.6005

Direct Plan: Growth 1,489.4584 Daily Dividend Reinvestment 1,000.0100 Bonus 1,489.3580

Benchmark Index CRISIL Liquid Fund Index

AAUM for the quarter ending December, 2013 ` 64.42 crores

Fund Manager & Experience Sujoy Das Total Experience 17 Years Experience in managing this fund: Since September 9, 2010

30 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Gilt Fund - Short Duration Plan (An Open-Ended Dedicated Gilt Fund)

Suitable for Investors who are seeking* credit risk free returns over short to medium term provide optimal returns by investing in securities issued and guaranteed by Central and State Government with portfolio maturity of less than 3 years low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate optimal returns by Company Rating % of Net investing in a portfolio of securities Assets issued and guaranteed by Central Money Market Instruments 25.51 and State Government. Treasury Bill Key Facts 91 Days Tbill (MD 27/03/2014) Sovereign 25.51 Mutual Fund Units 64.58 Load Structure Religare Invesco Liquid Fund 64.58 Entry Load1 Nil Cash & Cash Equivalent 9.91 2 Exit Load Nil Total 100.00

Minimum Investment 3 ` 5,000/- & in multiples of Dividend Distribution ` 1/- thereafter Rate (`/Unit) Record Date Cum-Dividend NAV p. u. (`) Additional Purchase Individuals/HUF Others ` 1,000/- & in multiples of ` 1/- thereafter Direct Plan - Monthly Dividend 30-Jan-14 6.20159751 NA 1128.9582 Inception Date 30-Dec-13 6.55624391 NA 1129.4133 9th February, 2008 28-Nov-13 5.50835769 NA 1128.0686 30-Oct-13 7.88233002 NA 1131.1150 NAV p.u. (`) As on 31st January, 2014 Monthly Dividend Growth 1,403.0237 30-Jan-14 5.93025294 NA 1137.3424 Weekly Dividend 1,051.0139 30-Dec-13 6.49183889 NA 1137.8958 Monthly Dividend 1,129.9755 28-Nov-13 5.80815823 NA 1137.1199 Bonus 1,403.0469 30-Oct-13 7.52092782 NA 1139.8703

Direct Plan: 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per Growth 1,410.8459 unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme. Weekly Dividend 1,054.4357 Monthly Dividend 1,121.2490 Bonus 1,410.8138 4YTM 8.66% Maturity Proﬁ le Average Maturity 17 days Benchmark Index 31 - 90 days 25.51% Modiﬁ ed Duration 15 days I-Sec Si-BEX Mutual Fund Units 64.58% Cash & Cash Equivalent 9.91% AAUM for the quarter ending December, 2013 ` 203.69 crores

Fund Manager & Experience Sujoy Das Total Experience 17 Years Experience in managing this fund: Since September 9, 2010

Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer 31 Religare Invesco Gilt Fund - Long Duration Plan (An Open-Ended Dedicated Gilt Fund)

Suitable for Investors who are seeking* credit risk free returns over medium to long-term provide optimal returns by investing in securities issued and guaranteed by Central and State Government with portfolio maturity of greater than 3 years low risk (BLUE) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate optimal returns by Company Rating % of Net investing in a portfolio of securities Assets issued and guaranteed by Central Government Security 94.03 and State Government. 8.83% GOI (MD 25/11/2023) Sovereign 77.66 Key Facts 8.28% GOI (M/D 21/09/2027) Sovereign 16.37 Cash & Cash Equivalent 5.97 Load Structure Total 100.00 Entry Load1 Nil Exit Load2 Nil Dividend Distribution3 Minimum Investment ` 5,000/- & in multiples of Rate (`/Unit) ` 1/- thereafter Record Date Cum-Dividend NAV p. u. (`) Individuals/HUF Others

Additional Purchase Direct Plan - Monthly Dividend ` 1,000/- & in multiples of 27-Jun-13 15.51513735 14.85916859 1040.9098 ` 1/- thereafter 27-Feb-13 0.24276506 N.A. 10.4856 Monthly Dividend Inception Date 27-Feb-13 0.12655283 0.10846819 10.4561 09th February, 2008 29-Nov-12 0.5426465 N.A. 10.6160 29-Mar-12 0.70462461 N.A. 11.0287 30-Dec-10 0.28574462 N.A. 10.6506 NAV p.u. (`) As on 31st January, 2014 Growth 1,271.8019 Direct Plan - Quarterly Dividend Monthly Dividend 1,028.2248 15-Mar-13 0.21566408 N.A. 10.4334 Quarterly Dividend 967.3135 Quarterly Dividend Annual Dividend 1,152.7514 15-Mar-13 0.35006562 N.A. 10.3974 Bonus 1,279.8615 15-Sep-12 0.436843941 N.A. 10.6349 15-Sep-11 0.16446324 N.A. 10.1867 Direct Plan: 15-Mar-11 0.09038997 0.08423749 10.1468 Growth 1,285.7877 Direct Plan - Annual Dividend Monthly Dividend 1,007.0180 15-Mar-13 0.2369606 N.A. 11.5586 Quarterly Dividend 990.1164 Annual Dividend Annual Dividend 1,137.5065 15-Mar-12 0.64307184 0.55100000 11.3501 Bonus 1,285.8177 15-Mar-11 0.64684732 0.60240000 11.4675 3Past performance may or may not be sustained in future. Dividend is on face value of `1000/- per unit. Face Benchmark Index value changed from Rs. 10/- to Rs. 1,000/- w.e.f. close of business hours on April 18, 2013. Dividend declared prior I-Sec Li-BEX to face value change is on face value of `10/- per unit. After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable statutory levy, if any. The above table does not include the details of all the dividends declared in the scheme. AAUM for the quarter ending December, 2013 ` 47.42 crores 4YTM 8.80% Maturity Proﬁ le Average Maturity 3614 days Fund Manager & Experience 5 - 10 years 77.66% Modiﬁ ed Duration 2247 days Sujoy Das 10 - 15 years 16.37% Total Experience 17 Years Cash & Cash Equivalent 5.97% Experience in managing this fund: Since September 9, 2010

32 Please refer Inside Back Cover for 1,2,4 Note on Direct Plan and Disclaimer Religare Invesco Gold Exchange Traded Fund (An Open-Ended Gold Exchange Traded Fund)

Suitable for Investors who are seeking* capital appreciation over long term generate returns that closely correspond to the returns provided by investment in physical gold in the domestic market, subject to tracking error high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate returns that closely Company % of Net correspond to the returns provided by Assets investment in physical gold in the domestic Gold 99.76 market, subject to tracking error. Gold 99.76 Key Facts Cash & Cash Equivalent 0.24 Total 100.00 Load Structure Entry Load1 Nil Exit Load Nil (For redemption in Creation Unit size.)

Minimum Investment2 On Exchange : 1 Unit Directly with Mutual Fund : 1,000 Units and in multiples thereof.

Listing Exchange 2Investor can purchase units from stock exchange at traded price or subscribe the units through Mutual Fund in Creation unit size for Cash or by submitting Portfolio deposit and Cash Component at applicable NAV. 3Based on 1 year monthly NSE / BSE data history.

NSE /BSE Symbol RELIGAREGO

BSE Code 533172

ISIN INF205K01361

Inception Date 12th March, 2010

Pricing per Unit 1 gram of gold (approx.)

NAV p.u. (`) As on 31st January, 2014 2,783.2547

Tracking Error3 0.04% (annualised)

Benchmark Index Price of Gold

AAUM for the quarter ending December, 2013 ` 68.10 crores

Fund Manager & Experience Nitish Sikand Total Experience 13 Years Experience in managing this fund: Since March 12, 2010

Please refer Inside Back Cover for 1, Note on Direct Plan and Disclaimer 33 Religare Invesco Nifty Exchange Traded Fund (An Open-Ended Exchange Traded Fund)

Suitable for Investors who are seeking* capital appreciation over long term generate returns that closely correspond to the returns generated by securities represented by CNX Nifty Index, subject to tracking error, if any high risk (BROWN) *Investors should consult their ﬁ nancial advisers if in doubt about whether the product is suitable for them. Note: Risk is (BLUE) Investors understand (YELLOW) Investors (BROWN) Investors represented as: that their principal will be at understand that their principal understand that their low risk will be at medium risk principal will be at high risk As on 31st January, 2014 Investment Objective Portfolio

To generate returns which Company % of Net Company % of Net closely correspond to the Assets Assets returns generated by securities Equity & Equity Related Instruments 99.87 Asian Paints Ltd. 1.07 as represented by CNX Nifty Index, subject to tracking error, ITC Ltd. 8.97 Lupin Ltd. 1.05 if any Infosys Ltd. 8.93 Power Grid Corporation of India Ltd. 1.05 Reliance Industries Ltd. 6.84 Cipla Ltd. 1.04 Key Facts Housing Development Finance Corp. Ltd. 6.30 Cairn India Ltd. 0.96 HDFC Bank Ltd. 5.82 Ultratech Cement Ltd. 0.88 Load Structure Tata Consultancy Services Ltd. 5.72 Indusind Bank Ltd. 0.82 Entry Load1 Nil ICICI Bank Ltd. 5.71 Grasim Industries Ltd. 0.82 2 Larsen & Toubro Ltd. 4.01 Exit Load Nil GAIL (India) Ltd. 0.80 Tata Motors Ltd. 3.14 (For redemption in Coal India Ltd. 0.78 Oil & Natural Gas Corporation Ltd. 2.44 Creation Unit size.) Hindalco Industries Ltd. 0.71 Sun Pharmaceuticals Industries Ltd. 2.22 Bharat Heavy Electricals Ltd. 0.68 3 Mahindra & Mahindra Ltd. 2.05 Minimum Investment Ambuja Cements Ltd. 0.61 On Exchange : 1 Unit Hindustan Unilever Ltd. 2.02 Tata Power Company Ltd. 0.59 Directly with Mutual Fund : 5,000 Units State Bank of India 1.97 IDFC Ltd. 0.59 and in multiples thereof. HCL Technologies Ltd. 1.95 Wipro Ltd. 1.88 NMDC Ltd. 0.58 Listing Exchange Bharti Airtel Ltd. 1.87 Bank of Baroda 0.52 NSE Axis Bank Ltd. 1.74 Jindal Steel & Power Ltd. 0.48 Dr. Reddy’s Laboratories Ltd. 1.66 ACC Ltd. 0.48 NSE Symbol NTPC Ltd. 1.30 Bharat Petroleum Corporation Ltd. 0.47 RELGRNIFTY Bajaj Auto Ltd. 1.28 Punjab National Bank 0.41 Kotak Mahindra Bank Ltd. 1.25 DLF Ltd. 0.31 ISIN Tata Steel Ltd. 1.19 Ranbaxy Laboratories Ltd. 0.25 INF205K01DA9 Hero MotoCorp Ltd. 1.18 Jaiprakash Associates Ltd. 0.25 Sesa Sterlite Ltd. 1.17 Cash & Cash Equivalent 0.13 Inception Date Maruti Suzuki India Ltd. 1.09 Total 100.00 13th June, 2011

Pricing per Unit Sector Classiﬁ cation5 Dividend Distribution6 1/10th of the value of S&P CNX Nifty (approx.) Record Date Rate Cum-Dividend NAV p.u. (`) As on 31st January, 2014 Software 18.48% (`/ Unit) NAV p.u. (`) 612.9614 Banks 18.22% Consumer Non Durables 12.06% Dividend Option Auto 8.74% 4 26-Dec-12 5 596.3176 Tracking Error Petroleum Products 7.31% 0.12% (annualised) Finance 6.89% 6Past performance may or may not be sustained Pharmaceuticals 6.22% in future. Dividend is on face value of `10/- per unit. Benchmark Index Construction Project 4.01% After the payment of dividend, the per unit NAV will fall to the extent of dividend payout and applicable Oil 3.40% CNX Nifty statutory levy, if any. Power 2.95% Cement 2.78% AAUM for the quarter ending Minerals/Mining 2.52% ` December, 2013 1.46 crores Telecom - Services 1.87% Ferrous Metals 1.67% Fund Manager & Experience Gas 0.80% Pranav Gokhale Non - Ferrous Metals 0.71% Total Experience 10 Years Industrial Capital Goods 0.68% Construction 0.55% Experience in managing this fund: Since June 13, 2011 5Sector Classiﬁ cation as recommended by AMFI.

2Please refer to Key Information Memorandum / Scheme Information Document for exit load applicable for redemption of units in other than creation unit size directly with the Mutual Fund. Exit Load charged, if any, will be credited back to the scheme, net of service tax. 3Investor can purchase units from stock exchange at traded price or subscribe the units through Mutual Fund in Creation unit size for Cash or by submitting Portfolio deposit and Cash Component at applicable NAV. 4Based on 1 year monthly data history.

34 Please refer Inside Back Cover for 1 and Disclaimers 1The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor. 2Exit load charged, if any, will be credited back to the scheme, net of service tax. 4YTM : Yield to maturity should not be construed as minimum return offered by Scheme. Note on Direct Plan : Pursuant to provisions of SEBI Circular No. CIR/IMD/DF/21/2012 dated September 13, 2012, a separate plan for direct investments (i.e. investments not routed through Distributor) under all Schemes of Religare Invesco Mutual Fund (except Exchange Traded Funds) was introduced with effect from January 1, 2013. Direct Plan will have a lower expense ratio excluding distribution expenses, commission for distribution of Units etc.

Disclaimer of IISL: The products on CNX Nifty Index is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL does not make and expressly disclaims any representation or warranty, express or implied (including warranties of merchantability or fi tness for particular purpose or use) regarding the advisability of investing in the products linked to CNX Nifty Index or particularly in the ability of the CNX Nifty Index to track general stock market performance in India. Please read the full Disclaimers in relation to the CNX Nifty Index in the Offer Document / Prospectus / Information Statement. The information contained herein should not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of Religare Invesco Asset Management Company Pvt. Ltd. (Religare Invesco AMC). Any information contained in this publication does not constitute and shall be deemed not to constitute an advice, an offer to sell/purchase or as an invitation or solicitation to do so for any security of any entity, and further Religare Invesco AMC/ affi liates / sponsors / trustee (Religare Invesco AMC Group) or their offi cers, employees, personnel, directors shall not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising from the use or access of any information that may be displayed in this publication from time to time. Recipients of the information contained herein should exercise due care and caution and read the scheme information documents/statement of additional information (including if necessary, obtaining the advice of tax / legal / accounting / fi nancial / other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained herein.

AMC Branches

n Agra : 0562 - 6459171 n Jaipur : 0141 - 6451086

n Ahmedabad : 079 - 40300304 n Jamshedpur : 0657 - 2321534

n Allahabad : 0532 - 6455816 n Kanpur : 0512 - 6451658

n Bengaluru : 080- 42941000 n Kochi : 0484 - 6453727

n Baroda : 0265 - 6643389 n Kolkata : 033 - 44031012

n Bhopal : 0755 - 4253972 n Lucknow : 0522 - 4000841

n Bhubaneshwar : 0674 - 6532062 n Madurai : 0452 - 6460114

n Chandigarh : 0172 - 6451315 n Mumbai (H.O) : 022 - 67310000

n Chennai : 044 - 64502422 n Nagpur : 0712 - 6463962

n Dehradun : 0135 - 6453212 n Panjim : 0832 - 6650402

n Delhi : 011 - 43789000 n Patna : 0612 - 6550318 / 220661

n Guwahati : 0361 - 2739917 n Pune : 020 - 30296394

n Hyderabad : 040 - 65444012 n Raipur : 0771 - 4056046

n Indore : 0731 - 4257351 n Surat : 0261 - 6450848 MKTG/FS/0114/C1008

35 Religare Invesco Asset Management Company Private Limited GYS Inﬁnity, Paranjpe ‘B’ Scheme, Subhash Road, Vile Parle (E), Mumbai – 400057 T +91 22 67310000 F +91 22 28371565

To invest: Call 1800-209-0007 • sms ‘Invest’ to 56677 Invest Online www.religareinvesco.com

Follow ‘Religare Invesco’ on

Mutual Fund investments are subject to market risks,

36 read all scheme related documents carefully.