Religare Invesco Mutual Fund - Feb - 2014

1
Factsheet
Strengthen
your portfolio with
Religare Invesco.
Equity Funds
Debt Funds
Religare Invesco Liquid Fund
Religare Invesco Ultra Short Term Fund
Religare Invesco Short Term Fund
Religare Invesco Credit Opportunities Fund
Religare Invesco Medium Term Bond Fund
Religare Invesco Active Income Fund
Religare Invesco Bank Debt Fund
Religare Invesco Overnight Fund
Religare Invesco Gilt Fund
Exchange Traded Funds
Religare Invesco Gold Exchange Traded Fund
Religare Invesco Nifty Exchange Traded Fund
Fund of Funds
Religare Invesco Pan European Equity Fund
Religare Invesco Gold Fund
Religare Invesco Tax Plan
Religare Invesco PSU Equity Fund
Religare Invesco Contra Fund
Religare Invesco Mid Cap Fund
Religare Invesco Arbitrage Fund
Religare Invesco Growth Fund
Religare Invesco Equity Fund
Religare Invesco Banking Fund
Religare Invesco Business Leaders Fund
Religare Invesco Infrastructure Fund
Religare Invesco Mid N Small Cap Fund
Hybrid Funds
Religare Invesco Monthly Income Plan (MIP) Plus
Religare Invesco Monthly Income Plan
February 2014
Average Assets Under Management for the quarter ending December 2013: `13,706.16 Crores
1
Scheme / Benchmark NAV as on
Dec. 31, 2013
(`)
Dec. 31, 2012 -
Dec. 31, 2013
(Absolute )
Dec. 30, 2011 -
Dec. 31, 2012
(Absolute )
Dec. 31, 2010 -
Dec. 30, 2011
(Absolute )
Since Inception
(CAGR ) Current Value
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 Index
1
- 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 Index
1
- -0.68% 10.61% 1.91% 5.32% 13,949
Religare Invesco Active Income Fund - Plan B
2
1303.9969 5.20% 9.43% 8.98% 4.79% 13,272
1
- -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
1
- 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
1
- -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 Index
1
- 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
1
- 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
1
- 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% - - - -
1
- 5.86% - - - -
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 91 Day T-Bill Index
1
- 8.28% 8.62% 6.19% 5.88% 14,884
Performance of Schemes
2
Dec. 31, 2013
(`)
Dec. 31, 2012 -
Dec. 31, 2013
(Absolute )
Dec. 30, 2011 -
Dec. 31, 2012
(Absolute )
Dec. 31, 2010 -
Dec. 30, 2011
(Absolute )
Since Inception
(CAGR )
Current Value
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 NIFTY
1
- 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 NIFTY
1
- 6.76% 27.53% -24.62% 5.76% 14,317
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 NIFTY
1
- 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 NIFTY
1
- 6.76% 27.53% -24.62% 7.55% 16,320
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 NIFTY
1
- 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 Sensex
1
- 8.98% 25.54% -24.64% 7.82% 13,891
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 NIFTY
1
- 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 NIFTY
1
- 6.76% 27.53% -24.62% 5.97% 13,999
Scheme /
Benchmark
NAV as on
Dec. 31, 2013
(`)
7
Days
3
15
Days
3
1
Month
3
3
Months
3
6
Months
3
Dec. 31, 2012 -
Dec. 31, 2013
(Absolute )
Dec. 30, 2011 -
Dec. 31, 2012
(Absolute )
Dec. 31, 2010 -
Dec. 30, 2011
(Absolute )
Since Inception
(CAGR )
Current Value
of `10,000
Fund Manager : Krishna Cheemalapati
Religare Invesco
Liquid Fund
1725.0270 8.96% 8.95% 9.00% 9.55% 9.39% 9.24% 9.69% 9.00% 7.95% 17,250
Religare Invesco
Liquid Fund -
Regular
1643.5559 7.62% 7.61% 7.66% 8.22% 8.02% 7.80% 8.41% 8.14% 7.22% 16,436
Religare Invesco
Liquid Fund -
Institutional
1681.9515 7.90% 7.86% 7.89% 8.46% 8.28% 8.07% 8.95% 8.73% 7.57% 16,820
CRISIL Liquid Fund
Index
- 6.40% 8.06% 8.95% 9.45% 9.44% 9.03% 8.49% 8.15% 7.34% 16,570
CRISIL 91 Day T-Bill
Index
1

- 10.01% 9.22% 9.08% 9.67% 8.12% 8.28% 8.62% 6.19% 5.86% 15,010
3
Dec. 31, 2013
(`)
Dec. 31, 2012 -
Dec. 31, 2013
(Absolute )
Dec. 30, 2011 -
Dec. 31, 2012
(Absolute )
Dec. 31, 2010 -
Dec. 30, 2011
(Absolute )
Since Inception
(CAGR )
Current Value
of `10,000
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 NIFTY
1
- 6.76% 27.53% -24.62% 8.47% 15,605
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 NIFTY
1
- 6.76% 27.53% -24.62% 2.07% 11,336
Fund Manager : Pranav Gokhale
4
16.0207 7.91% 9.07% 7.47% 7.31% 16,021
CNX NIFTY
1
- 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 Sensex
1
- 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 Sensex
1
- 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 Sensex
1
- 8.98% 25.54% - - -
Fund Manager : Sujoy Das, Nitish Sikand & Pranav Gokhale
5
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
1
- 5.86% 8.06% 6.42% 6.04% 12,343
Fund Manager : Sujoy Das & Pranav Gokhale
5
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
1
- 5.86% 8.06% 6.42% 6.04% 12,343
Religare Invesco Capital Protection Oriented Fund
Series I
12.0220 5.08% 14.30% - - -
CRISIL MIP Blended Index - 4.41% 12.05% - - -
1
- 5.86% 8.06% - - -
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.
4
Scheme Name Inception Date
Religare Invesco Bank Debt Fund 29
th
December, 2012
Religare Invesco Gold Fund 5
th
December, 2011
Religare Invesco Nifty Exchange Traded Fund 13
th
June, 2011
Religare Invesco Capital Protection Oriented Fund Series 1 21
st
March, 2011
Religare Invesco Medium Term Bond Fund 30
th
December, 2010
Religare Invesco Monthly Income Plan (MIP) Plus 1
st
June, 2010
Religare Invesco Monthly Income Plan 1
st
June, 2010
Religare Invesco Gold Exchange Traded Fund 12
th
March, 2010
Religare Invesco PSU Equity Fund 18
th
November, 2009
Religare Invesco Credit Opportunities Fund 28
th
August, 2009
Religare Invesco Business Leaders Fund 21
st
August, 2009
Religare Invesco Banking Fund 14
th
July, 2008
Religare Invesco Mid N Small Cap Fund 17
th
March, 2008
Religare Invesco AGILE Tax Fund 10
th
March, 2008
Scheme Name Inception Date
Religare Invesco Gilt Fund 9
th
February, 2008
Religare Invesco AGILE Fund 19
th
December, 2007
Religare Invesco Infrastructure Fund 21
st
November, 2007
Religare Invesco Equity Fund 4
th
October, 2007
Religare Invesco Overnight Fund 14
th
September, 2007
Religare Invesco Growth Fund 9
th
August, 2007
Religare Invesco Active Income Fund 2
nd
August, 2007
Religare Invesco Arbitrage Fund 30
th
April, 2007
Religare Invesco Mid Cap Fund 19
th
April, 2007
Religare Invesco Contra Fund 11
th
April, 2007
Religare Invesco Short Term Fund 24
th
March, 2007
Religare Invesco Ultra Short Term Fund 18
th
January, 2007
Religare Invesco Tax Plan 29th December, 2006
Religare Invesco Liquid Fund 17th November, 2006
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.
3
Returns 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 schemes 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.
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
5
What is your outlook on markets for 2014? What are
the key concerns or factors that could negatively
impact the markets as we progress this year?
A: Economic growth remains weak and the lead
indicators do not suggest a turnaround. Monetary
policy support to growth is unlikely given the continuing
battle with inflation. Policy making has picked up pace
since late 2012 & several measures to address stalled
investments have been taken. This is positive for growth
outlook in the years ahead. But valuations are near long
term averages and further market progress will require a
pick up in earnings growth.
Q : What is your expectation from the general election
results on the markets?
A: We have no specific view on the election outcome.
A stable and decisive government that can deliver good
governance would raise confidence of business and
investors. Enhanced confidence can lift valuations and
an unstable government would lower confidence and
damage valuations. But with valuations near long term average an extreme reaction to the election
outcome while not impossible is less likely.
For the markets - it is not merely an improvement or deterioration in confidence but an acceleration
in earnings that holds the key to the medium term. And on that count we are still in a difficult and
time consuming process.
In The News
ICICI Securities Money Manager - February 2014 WealthForum e-Zine - February 13, 2014
WF : At the beginning of 2013, most fund managers were very bullish on duration. Unfortunately,
events of July 2013 belied their expectations, which led to considerable disenchantment among
distributors and investors. What leads you to give a bullish call on duration now, given this rather
unpleasant recent history?
Sujoy : The bearish move in the bond market started off with the announcement of the Fed tapering
in May13 and the ensuing nervousness in the currency market as outflows from debt investments
started from foreign investors coupled with widening CAD led to weakness in the currency.
The stretched fiscal situation, low tax collections and rising inflation (led by food inflation) added
to the gloom and the yields hardened over the second half of 2013.
RBIs abrupt monetary policy and OMO sales of g-secs at the longer end in July13 weakened the
sentiment and the yields of longer tenor bonds moved higher.
From July13 onwards there have been several improvements, which leads us to be bullish on
duration:
1. The CAD is better and within 1.2% of the GDP as the country imported much less ever since
the imports duty on gold was imposed. Simultaneously, the recovery of the exports industries
led to a quick improvement in the CAD situation
2. The volatility in the currency market has come off due to improvement in the CAD and robust
accretion in the forex reserves due to off-shore bank deposits raised for by banks for a 3 year
term
3. The food inflation has seen a sharp decline,since the prices of green vegetables moved down
over the last months. The reduced MSP price hikes are also helping the food inflation to come
lower. Hence, the headline inflation has also come off from the peaks and is expected to move
lower over time.
4. While Urjit Patel recommendations will be followed, declining headline inflation probably does
not warrant further rate hikes.
5. As inflation comes off from the peaks, we expect RBIs focus to shift towards backing up
growth in the latter part of the FY15.
6. The 10 year benchmark sovereign yields are trading 140bps higher than the 10 year averages.
In light of the above developments and given the cheap market valuations as the rate cycle
is expected to follow a cyclical pattern, it makes a compelling reason to get invested in long
durations as this point in time.
Given the fundamental improvement in the macro variables particularly on the external front and
present market valuations the current levels open up an opportunity to get invested and the risk-
reward is in favour of long duration bond funds.
WF : What exactly are the recommendations of the Urjit Patel Committee that might impact bond
markets and what impact will these have?
Sujoy : The recommendation to target headline CPI inflation and to glide it down over a 2
year period to 6% from the present 9.7% has the potential to impact the bond markets. The
recommendations are subject to govt achieving a fiscal target of 3.0% by FY17.
As the focus will be directed towards inflation control, monetary policy actions will be targeted
to inflation control.
WF : Global investors are in a jittery mood now about emerging markets, with turbulence in
Argentina and Turkey, nervousness on China and trepidation on US taper. Emerging market debt
has been the biggest beneficiary of the multi-year global liquidity surge, which is now set to taper
down. How do you expect these events to impact our bond markets?
Sujoy : Foreign investors holding of Indian bonds is probably the lowest amongst several EM bond
markets. While the jitters might be felt in those markets in case the available of liquidity dips as the
US tapering continues over the year, Indian bond market might stand out in isolation as foreigners
hold under 3% of the outstanding compared to upwards of 15% holding by foreign investors for
other bond markets.
AMC Speak
6 reasons to be bullish on bonds now
Dont let events of 2013 scare you away from bond funds, says
Sujoy, as he lists 6 reasons why he is bullish on duration strategies
for 2014. He does not share the view that retail investors should
stick only to the shorter end - he believes that when yields are
significantly above their long term averages - as they currently
are, investors from all segments must consider income and gilt
funds, and should look at exiting only when yields are significantly
below long term averages. If this simple discipline is maintained,
all investors can benefit from income and gilt funds, he says.
Sujoy Das, Head - Fixed Income, Religare Invesco MF
Mutual Fund Insight - February , 2014
Opportunities in mid and small cap space
Vetri Subramaniam, Chief Investment Officer (CIO), Religare Invesco Mutual Fund believes that
valuations are trading in line with historical averages and recommends continuing systematic
investment. Based on valuations, he sees opportunities in mid and small cap space and also in
value stocks. Credible exporters across sectors are another attractive area, he adds. Here are
the excerpts of his interview with ICICIdirect Money Manager:
The Hindu Business Line - February 17, 2014
Vetri Subramaniam
&KLHI,QYHVWPHQW2IFHU&,2
Religare Invesco Mutual Fund
6
Market Update
Macro Economic Review
The broad economic conditions remained largely unchanged over the previous month. While the 3QFY14
GDP growth slowed down to 4.7% from 4.8% in 2Q, the quarter saw modest agriculture growth of 3.6%.
Disappointingly, the growth within the industry contracted by 0.7% and services grew by mere 7.6%. The
government also released the first GDP estimates for FY14, pegging growth at 4.9%. Factory output continued
to contract as Dec IIP came in at -0.6%, taking Apr-Dec growth to -0.1.
With the decline in the vegetable prices, the headline CPI continued to ease in Jan14, coming in at a two year
low of 8.8% from 9.9% in Dec13. The drop in inflation was supported by an ease of fuel inflation. However, core
CPI remained at unchanged levels of 8.1%. WPI followed a similar trend, as the Jan14 print was at 5% vs 6.2%
in the previous month. Core WPI rose up to 3% from 2.8% in Dec, though this is partly seasonal due to price
revisions at beginning of calendar year.
The IIP for Dec13 contracted by -0.6% compared to -2.1% of Nov13. The slow growth in the manufacturing
sector is expected to have some disinflationary effect on the general level of prices within the economy.
Based on the Urijit Patel recommendation of targeting the headline CPI inflation for all monetary policy actions
(i.e. 8% CPI inflation by March 2015), RBI raised the repo rates in the last policy review in end Jan14. The rate
hike surprised the market participants as the market was expecting no change since there was a sharp decline in
the headline inflation compared to the previous month.
The purchases by FIIs in the debt segment continued to be positive for the 3
rd
month in a row with a purchase of
$2.5 billion in Feb14.
While in the interim budget, PM announced a lower fiscal deficit of 4.6% for FY14 and estimated a 4.1% fiscal
deficit for FY15, the market reactions seemed to be cautious about the achievement of the budgeted estimates.
The net market borrowing of the govt in FY15 is also estimated to be lower than the previous year.
The visible stress in the asset books of many PSU banks and the general slowdown across the economy is having
its effect in business confidence.
Equity Market
After a weak start to the calendar year, the Nifty picked up in Feb (+3.1%). There was stock specific action
on the back of 3Q earnings in early Feb but, overall the Indian market moved largely in tandem with regional
markets. FIIs and DIIs both ended the month as net buyers, at $418mn & $44mn respectively.
Valuations are in the comfort zonethey are not expensive but neither are they cheap: trading slightly below
long term averages. On a forward basis they are 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.
We see volatility increasing in the days ahead driven both by local & global issues. And this might have more to
do with non-economic issues.
The areas we have highligted as being attractive-in recent times-cheap cyclical stocks, Mid & Small cap
companies & exporters have done well in recent times. We think these themes remain attractive but we continue
to avoid companies with balance sheet risk. We are of the opinion that stock selection remains the key to
generating alpha in this environment.
Fixed Income Market
Over the month of February14 the yields of most assets hardened in the market.
As the financial year end is drawing to a close the cost of money has gone up leading to hardening of yields of
most securities. Higher quantum of issuances compared to the maturities of CDs pushed up the yields of bank
CDs. The yields of 3m CD went up from 9.50% to 9.80%. The yields of 12m CD went up from 9.65% to 9.76%.
The yields of corporate bonds were largely unchanged due to demand from foreign investors. The month of
Feb14 saw over Rs. 18,000 crore inflow into Indian debt and money market securities by foreign investors. The
yield of 5 year corporate bonds remained unchanged around 9.72%.
7
Market Update Contd...
The 10 year benchmark G-sec yields went up from 8.78% to 8.86%. The yields hardened despite net positive
foreign inflow due to net selling by domestic fund. The market presumably was preparing for further rate hikes
by RBI.
While chances of further rate hikes are remote, as the headline inflation moves downwards, but still remains
outside the target 8% on headline CPI. Few comments by RBI governor also kept the market participants nervous
about trajectory of monetary rates.
The estimated fiscal deficit of 4.1% for FY15 and a net market borrowing below current year failed to cheer
market participants as there was widespread disagreement about attaining the budget estimates.
The decline in gold imports and non-essential imports has led to a steady improvement in the CAD. RBI actions
around maintaining currency stability has helped improve the general market sentiment while IIP declines. The
drop in the vegetable prices has helped in the decline of the headline inflation.
RBI has also maintained the overnight rates around the repo rate through continuous term repo auctions and
has helped maintain liquidity at reasonable levels.
While the domestic economic momentum lacks visible signs of growth, the positives roll-in from improved macro
variables on the external front. Continued Fed tapering has had limited impact on both the currency and the
rates.
The liquidity position within the banking system is expected to deteriorate further due to the seasonal outflows
from the advance tax payments towards mid-March. The overnight cost of money might just about be maintained
around the repo rate of 8% due to the success of term repo auctions. Through the term repo auctions, RBI has
infused additional liquidity beyond the infusions through the overnight LAF. The infusions through the term
repos auctions has helped maintain stability in the overnight market and contain the rates closer to the repo
rates.
The yields of debt securities will move in line with inflation and RBIs rate actions.
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 March14 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.
The inflows from foreign investors are expected to continue over the month as the currency remains stable
with an appreciating bias. This is having a positive impact on the value of the currency. So while several EM
currencies are feeling the heat of Fed tapering the behavior of the rupee is comparatively stable.
Higher supply of corporate bonds might lead to some widening of spreads for corporates as the spreads are
lower than the averages and additional market borrowing appears remote as fiscal deficit is being contained at a
lower level of 4.6% compared to the budgeted estimates of 4.8%.
Improved currency stability, lower headline inflation might refrain RBI from any further rate hikes from the
present levels. Taking cognizance of monetary policy guidance, we are positive on long maturity bonds and gilts,
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 high due to RBIs pause on rate hikes and the 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.
In light of the improved Indias 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. On a medium to long term basis, the risks remains of a weak government unable to pursue a lower
fiscal deficit from the new FY.
8
Table I
AUM REPORT FOR THE QUARTER ENDED (31/12/2013)
Asset class wise disclosure of AAUM
Category Average AUM for the
Quarter (Rs. in Lakhs)
Income 749,492.89
Equity (other than ELSS) 45,981.27
Balanced 0.00
Liquid 528,569.54
Gilt 25,110.41
Equity - ELSS 14,506.40
GOLD ETF 6,809.66
Other ETF 146.18
Fund of Fund investing overseas 0.00
Total 1,370,616.34
Assets Under Management
Table II
AUM REPORT FOR THE QUARTER ENDED (31/12/2013)
Disclosure of percentage of AUM by geography
Geographical Spread % of Total AUM as on the
last day of the Quarter
Top 5 Cities 60.84
Next 10 Cities 28.22
Next 20 Cities 6.70
Next 75 Cities 2.28
Others 1.96
Total 100.00
9 Please refer Inside Back Cover for
1
,
2
Note on Direct Plan and Disclaimer
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Equity & Equity Related Instruments 96.27
Tata Consultancy Services Ltd. 7.00
HDFC Bank Ltd. 5.85
Wipro Ltd. 5.71
Housing Development Finance Corp. Ltd. 5.37
Britannia Industries Ltd. 5.11
ING Vysya Bank Ltd. 4.14
Maruti Suzuki India Ltd. 3.19
Biocon Ltd. 2.96
Oil & Natural Gas Corporation Ltd. 2.72
Idea Cellular Ltd. 2.56
Larsen & Toubro Ltd. 2.51
VA Tech Wabag Ltd. 2.39
Bharat Petroleum Corporation Ltd. 2.38
Infosys Ltd. 2.27
Gujarat Pipavav Port Ltd. 2.14
Apollo Hospitals Enterprise Ltd. 2.08
Lupin Ltd. 2.05
PI Industries Ltd. 2.05
D.B.Corp. Ltd. 1.97
Tech Mahindra Ltd. 1.93
Power Grid Corporation of India Ltd. 1.85
Supreme Industries Ltd. 1.77
Voltas Ltd. 1.70
The Federal Bank Ltd. 1.70
Titan Company Ltd. 1.58
AIA Engineering Ltd. 1.51
City Union Bank Ltd. 1.49
Dr. Reddys Laboratories Ltd. 1.43
Tata Steel Ltd. 1.43
The Jammu & Kashmir Bank Ltd. 1.41
VIP Industries Ltd. 1.40
IPCA Laboratories Ltd. 1.30
Tree House Education & Accessories Ltd. 1.25
The Great Eastern Shipping Company Ltd. 1.12
Siemens Ltd. 1.09
Bayer CropScience Ltd. 1.06
Redington (India) Ltd. 0.97
IDFC Ltd. 0.94
Greaves Cotton Ltd. 0.89
Eros International Media Ltd. 0.88
Sadbhav Engineering Ltd. 0.84
Gujarat State Petronet Ltd. 0.70
Whirlpool of India Ltd. 0.63
The Ramco Cements Ltd. 0.50
Balrampur Chini Mills Ltd. 0.43
Cash & Cash Equivalent 3.73
Total 100.00
Dividend Distribution
5
Dividend Option
27-Dec-13 0.90 14.46
30-Mar-11 0.75 12.37
20-Jan-11 2.00 14.40
25-Nov-09 1.00 13.03
Direct Plan - Dividend Option
27-Dec-13 1.00 14.56
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
5
Past performance may or may not be sustained
in future. Dividend 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.
4
Sector Classication as recommended by AMFI.
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 500/- & in multiples of
` 500/- thereafter
Additional Purchase
` 500/- & in multiples of
` 500/- thereafter
Inception Date
29
th
December, 2006
NAV p.u. (`) As on 28
th
February, 2014
Growth 21.50
Dividend 13.51
Direct Plan:
Growth 21.73
Dividend 13.54
Portfolio Turnover Ratio
(1 Year) 0.47
Risk Ratios
3

Standard Deviation 4.46%
Sharpe Ratio 0.02
Beta 0.81
3
Based on 3 years, monthly data
history (Risk-free rate of 9.09%
based on 91 days T-Bill Rate)
Benchmark Index
S&P BSE 100
AAUM for the quarter ending
December, 2013 ` 138.51 crores
Fund Manager & Experience
Vetri Subramaniam
Total Experience 21 Years
Experience in managing this fund:
Since December 16, 2008
Vinay Paharia
Since June 28, 2010
Investment Objective
To generate long term capital
growth from a diversied portfolio
of predominantly equity and equity
related securities.
Software
Banks
Pharmaceuticals
Finance
Consumer Non Durables
Construction Project
Consumer Durables
Transportation
Auto
Pesticides
Media & Entertainment
Oil
Industrial Products
Industrial Capital Goods
Telecom - Services
Engineering Services
Petroleum Products
Healthcare Services
Power
Ferrous Metals
Diversied Consumer Services
Trading
Gas
Cement 0.50%
0.70%
0.97%
1.25%
1.43%
1.85%
2.08%
2.38%
2.39%
2.56%
2.61%
2.66%
2.72%
2.84%
3.11%
3.19%
3.26%
3.62%
5.04%
5.54%
6.32%
7.75%
14.59%
16.91%
Sector Classication
4
As on 28
th
February, 2014
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*
z capital appreciation over long-term z investment in equity and equity-related instruments z high risk (BROWN)
*Investors should consult their nancial advisers if in doubt about whether the product is suitable for them.
(BLUE) Investors understand

that their principal will be at
low risk
(YELLOW) Investors
understand that their principal
will be at medium risk
Note: Risk is
represented as:
(BROWN) Investors
understand that their
principal will be at high risk
10
Portfolio
Company % of Net
Assets
Company % of Net
Assets
GAIL (India) Ltd. 8.02
Coal India Ltd. 6.05
LIC Housing Finance Ltd. 5.48
State Bank of India 4.76
Balmer Lawrie & Company Ltd. 4.65
Indian Oil Corporation Ltd. 2.64
Oil India Ltd. 2.60
Hindustan Petroleum Corporation Ltd. 2.33
Corporation Bank 2.17
Gujarat Mineral Development Corp. Ltd. 2.09
Gujarat Industries Power Company Ltd. 2.06
Indraprastha Gas Ltd. 1.85
NTPC Ltd. 1.81
Bharat Electronics Ltd. 1.73
Bharat Heavy Electricals Ltd. 1.72
SJVN Ltd. 1.55
Bank of Baroda 1.07
Oriental Bank of Commerce 0.96
Gujarat State Fertilizers & Chemicals Ltd. 0.58
Engineers India Ltd. 0.45
Total 100.00
Sector Classication
4
5
Dividend Option
26-Nov-10 1.10 11.22
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
5
statutory levy, if any.
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
If redeemed/switched-out on
or before 1 year from the
date of allotment : 1%
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/- thereafter
Inception Date
18
th
November, 2009
th
February, 2014
Growth 8.36
Dividend 7.54
Direct Plan:
Growth 8.43
Dividend 7.60
(1 Year) 0.25
Risk Ratios
3
Sharpe Ratio -0.21
Beta 0.84
3
Benchmark Index
S&P BSE PSU Index
Vetri Subramaniam
Since November 9, 2010
Amit Ganatra
To generate capital appreciation by
investing in equity and equity related
instruments of companies
where the Central / State
Government(s) has majority share
holding or management control
or powers to appoint majority of
directors
Banks
Petroleum Products
Oil
Power
Gas
Minerals/Mining
Finance
Transportation
Fertilisers
Construction Project 0.45%
0.58%
3.46%
4.65%
5.48%
8.14%
11.25%
14.22%
14.51%
15.38%
21.59%
Please refer Inside Back Cover for
1
,
2
As on 28
th
February, 2014
Religare Invesco PSU Equity Fund
(An Open-Ended Equity Scheme)
z capital appreciation over long-term z investment in equity and equity-related instruments of Government companies (PSUs)
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
11
To generate capital appreciation
through investment in equity and
equity related instruments. The
Scheme will seek to generate capital
appreciation through means of
contrarian investing.
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Wipro Ltd. 4.90
Infosys Ltd. 3.97
Bharat Forge Ltd. 2.90
Voltas Ltd. 2.90
Biocon Ltd. 2.59
D.B.Corp. Ltd. 2.29
Crompton Greaves Ltd. 2.03
Gateway Distriparks Ltd. 1.62
Siemens Ltd. 1.37
Hindustan Zinc Ltd. 1.34
IDFC Ltd. 0.93
Max India Ltd. 0.81
TV18 Broadcast Ltd. 0.70
NRB Bearing Ltd. 0.53
Balrampur Chini Mills Ltd. 0.47
Alstom India Ltd. 0.44
Total 100.00
Sector Classication
4
5
Dividend Option
12-Mar-10 2.00 13.48
7-Sep-09 1.20 13.12
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
5
4
Software
Banks
Transportation
Pharmaceuticals
Industrial Products
Consumer Durables
Auto
Telecom - Services
Oil
Petroleum Products
Trading
Finance
Non - Ferrous Metals
Power
Ferrous Metals
Healthcare Services
0.92%
1.25%
1.26%
1.34%
1.74%
1.88%
2.14%
2.48%
2.68%
3.94%
4.31%
4.55%
4.94%
5.14%
5.17%
5.98%
6.39%
7.17%
7.51%
12.24%
16.16%
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
11
th
April, 2007
th
February, 2014
Growth 18.10
Dividend 14.00
Direct Plan:
Growth 18.26
Dividend 14.12
(1 Year) 0.66
Risk Ratios
3
Performance Attributes
Sharpe Ratio -0.02
Beta 0.95
3
Benchmark Index
S&P BSE 500
Vetri Subramaniam
Amit Ganatra
Since August 14, 2012
1
,
2
As on 28
th
February, 2014
Religare Invesco Contra Fund
z capital appreciation over long-term z investment in equity and equity-related instruments through means of contrarian investing
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
1
,
2
To provide long term capital
appreciation by investing in a
portfolio that is predominantly
constituted of equity and equity
related instruments of Mid Cap
companies
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Voltas Ltd. 4.01
D.B.Corp. Ltd. 3.88
Biocon Ltd. 3.21
Siemens Ltd. 2.38
Rallis India Ltd. 2.07
Mindtree Ltd. 1.95
Grindwell Norton Ltd. 1.53
FAG Bearings India Ltd. 1.20
IDFC Ltd. 1.00
Kalpataru Power Transmission Ltd. 0.98
Texmaco Rail & Engineering Ltd. 0.90
Sundaram Finance Ltd. 0.32
Total 100.00
Sector Classication
4
5
Dividend Option
24-Sep-10 2.70 15.65
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
5
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
19
th
April, 2007
th
February, 2014
Growth 18.38
Dividend 15.24
Direct Plan:
Growth 18.55
Dividend 15.38
(1 Year) 0.46
Risk Ratios
3
Sharpe Ratio 0.07
Beta 0.74
3
Benchmark Index
CNX Mid Cap Index
Vinay Paharia
Banks
Transportation
Industrial Products
Pesticides
Pharmaceuticals
Software
Consumer Durables
Trading
Finance
Petroleum Products
Auto
Gas
Cement
Healthcare Services
Power 0.98%
1.03%
1.47%
1.47%
1.83%
1.93%
2.26%
2.39%
2.81%
2.85%
4.61%
4.92%
5.20%
5.61%
5.79%
5.79%
6.29%
8.50%
8.82%
9.42%
12.75%
As on 28
th
February, 2014
Religare Invesco Mid Cap Fund
z capital appreciation over long-term z investment predominantly in equity and equity-related instruments of Mid Cap companies
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
13
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Lupin Ltd. 8.84
Reliance Industries Ltd. 7.69
United Spirits Ltd. 7.12
Sun Pharmaceuticals Industries Ltd. 2.58
Tata Global Beverages Ltd. 1.74
Yes Bank Ltd. 1.59
Exide Industries Ltd. 1.29
Tata Motors Ltd. DVR Shares 1.19
Punjab National Bank 1.13
NTPC Ltd. 1.12
The Karnataka Bank Ltd. 1.07
Tata Power Company Ltd. 1.05
Biocon Ltd. 1.05
IFCI Ltd. 1.03
Divis Laboratories Ltd. 1.01
Reliance Power Ltd. 0.95
Tata Communications Ltd. 0.92
Reliance Capital Ltd. 0.92
Dish TV India Ltd. 0.87
JSW Steel Ltd. 0.84
NHPC Ltd. 0.66
Unitech Ltd. 0.63
Cairn India Ltd. 0.60
Ashok Leyland Ltd. 0.56
Siemens Ltd. 0.54
Arvind Ltd. 0.51
Aurobindo Pharma Ltd. 0.46
IRB Infrastructure Developers Ltd. 0.45
Oracle Financial Services Software Ltd. 0.39
The India Cements Ltd. 0.34
Jain Irrigation Systems Ltd. 0.34
Hindalco Industries Ltd. 0.31
Indraprastha Gas Ltd. 0.31
Bank of India 0.29
Jaiprakash Power Ventures Ltd. 0.28
IDFC Ltd. 0.26
Ranbaxy Laboratories Ltd. 0.23
Syndicate Bank 0.21
PTC India Ltd. 0.20
Colgate Palmolive (India) Ltd. 0.17
UCO Bank 0.17
Union Bank of India 0.17
Hindustan Unilever Ltd. 0.16
Voltas Ltd. 0.14
Wipro Ltd. 0.12
Allahabad Bank 0.10
Grasim Industries Ltd. 0.10
Sesa Sterlite Ltd. 0.08
Petronet LNG Ltd. 0.08
Canara Bank 0.08
Aditya Birla Nuvo Ltd. 0.07
Jindal Steel & Power Ltd. 0.07
Century Textiles & Industries Ltd. 0.06
Andhra Bank 0.05
Asian Paints Ltd. 0.03
Glenmark Pharmaceuticals Ltd. 0.02
ICICI Bank Ltd. 0.01
Tata Chemicals Ltd. 0.01
NMDC Ltd. *0.00
Mutual Fund Units 15.50
Religare Invesco Liquid Fund 15.50
Fixed Deposit 23.66
HDFC Bank Ltd. 22.75
Bank Of Nova Scotia 0.92
Derivatives, Cash & Cash Equivalent -6.28
Total 100.00
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
30
th
April, 2007
th
February, 2014
Growth 16.2648
Dividend 12.5084
Bonus 16.2633
Direct Plan:
Growth Option 16.3984
Dividend Option 12.7545
Bonus 16.3985
(1 Year) 43.68
Benchmark Index
CRISIL Liquid Fund Index
Pranav Gokhale
Since April 01, 2011
To generate income through
arbitrage opportunities emerging
out of mis-pricing between the cash
market and the derivatives market
and through deployment of surplus
cash in xed income instruments.
The Scheme is having exposure to Stock Futures (Short) against the above Equity Stocks and the Gross Derivatives
Exposure is 67.55% of Net Assets.
* Less than 0.01%
1
,
2
z income over medium-term z income through opportunities emerging out of mis-pricing between cash and derivatives markets and
through deployment of surplus cash in xed income instruments z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
Sector Classication
3
3
Pharmaceuticals
Petroleum Products
Banks
Finance
Software
Power
Ferrous Metals
Auto
Auto Ancillaries
Telecom - Services
Construction
Consumer Durables
Oil
Textile Products
Cement
Gas
Industrial Products
Minerals/Mining
Services
Chemicals 0.01%
0.07%
0.14%
0.23%
0.34%
0.39%
0.50%
0.51%
0.54%
0.60%
0.87%
0.91%
1.08%
1.15%
1.27%
1.29%
2.60%
2.75%
4.26%
4.80%
4.84%
6.87%
7.69%
9.22%
14.19%
4
Dividend Option
10-Feb-14 0.12 12.5815
7-Jan-14 0.14 12.6090
5-Dec-13 0.10 12.6488
7-Nov-13 0.10 12.6627
10-Feb-14 0.50 13.2018
10-Oct-13 0.06 12.6598
26-Sep-13 0.03 12.6262
26-Aug-13 0.10 12.6522
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
4
statutory levy, if any. The above table does not in-
clude the details of all the dividends declared in the
scheme.
As on 28
th
February, 2014
14
growth from a diversied portfolio
of predominantly equity and equity
related securities.
Portfolio
Company % of Net
Assets
Company % of Net
Assets
HDFC Bank Ltd. 8.34
Wipro Ltd. 5.87
HCL Technologies Ltd. 3.97
ITC Ltd. 3.64
D.B.Corp. Ltd. 2.52
Biocon Ltd. 1.49
Pidilite Industries Ltd. 0.51
Total 100.00
Sector Classication
4
5
Dividend Option
30-Dec-10 1.25 13.76
Record Date Rate
(`/ Unit)
5
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
9
th
August, 2007
th
February, 2014
Growth 15.25
Dividend 13.86
Direct Plan:
Growth 15.40
Dividend 13.97
(1 Year) 0.34
Risk Ratios
3
Sharpe Ratio -0.01
Beta 0.84
3
Benchmark Index
S&P BSE 100
Vetri Subramaniam
Vinay Paharia
Software
Banks
Petroleum Products
Finance
Pharmaceuticals
Auto
Oil
Telecom - Services
Industrial Products
Power
Ferrous Metals
Gas
Consumer Durables
Transportation
Chemicals 0.51%
0.92%
1.07%
1.08%
1.13%
1.46%
1.83%
2.01%
2.48%
2.52%
2.68%
2.92%
3.28%
3.28%
4.78%
6.23%
6.32%
8.05%
8.80%
17.12%
20.03%
Cum-Dividend
NAV p.u. (`)
1
,
2
z capital appreciation over long-term z investment in diversied portfolio of equity and equity-related instruments
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
As on 28
th
February, 2014
Religare Invesco Growth Fund
(An Open-Ended Diversied Equity Scheme)
15
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Zee Entertainment Enterprises Ltd. 5.58
ITC Ltd. 5.53
Wipro Ltd. 5.07
Biocon Ltd. 4.75
HDFC Bank Ltd. 4.02
D.B.Corp. Ltd. 3.47
Lupin Ltd. 2.36
Fixed Deposit 1.06
Bank Of Nova Scotia 1.06
Total 100.00
Sector Classication
4
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
04
th
October, 2007
th
February, 2014
Growth 15.66
Dividend 15.66
Direct Plan:
Growth 15.81
Dividend 15.80
(1 Year) 4.55
Risk Ratios
3
Sharpe Ratio 0.02
Beta 0.64
3
Benchmark Index
S&P BSE 100
Vetri Subramaniam
growth from a focused portfolio of
predominantly equity and equity
related securities.
Software
Banks
Pharmaceuticals
Petroleum Products
Auto
Cement
Ferrous Metals
Telecom - Services 2.42%
4.09%
4.43%
4.67%
5.50%
5.53%
9.04%
11.85%
13.13%
13.21%
1
,
2
As on 28
th
February, 2014
Religare Invesco Equity Fund
z capital appreciation over long-term z investment in focused portfolio of equity and equity-related instruments
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
5
Dividend Option
28-Feb-14 1.50 15.66
28-Feb-14 2.00 15.80
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
5
1
,
2
Portfolio
Company % of Net
Assets
Company % of Net
Assets
HDFC Bank Ltd. 29.93
Axis Bank Ltd. 4.33
Kotak Mahindra Bank Ltd. 2.51
Indusind Bank Ltd. 2.41
Max India Ltd. 1.50
IDFC Ltd. 1.44
Bank of Baroda 1.04
Shriram Transport Finance Company Ltd. 1.00
Total 100.00
Sector Classication
4
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
14
th
July, 2008
th
February, 2014
Growth 20.39
Dividend 13.59
Direct Plan:
Growth 20.57
Dividend 13.71
(1 Year) 1.41
Risk Ratios
3
Sharpe Ratio -0.03
Beta 0.89
3
Benchmark Index
CNX Bank Index
Amit Ganatra
To generate long term capital growth
from a portfolio of equity and equity
related securities of companies
engaged in the business of banking
and nancial services.
5
Dividend Option
3-May-13 2.50 17.79
29-Jan-10 2.50 14.18
3-Jul-09 0.75 12.78
Direct Plan -
Dividend Option
3-May-13 2.50 17.79
Record Date Rate
(`/ Unit)
5
Cum-Dividend
NAV p.u. (`)
15.16%
83.95%
Finance
Banks
As on 28
th
February, 2014
Religare Invesco Banking Fund
(An Open-Ended Banking Sector Scheme)
z capital appreciation over long-term z investment predominantly in equity and equity-related instruments of companies engaged
in the business of banking and nancial services z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
17
Portfolio
Company % of Net
Assets
Company % of Net
Assets
ITC Ltd. 9.36
Infosys Ltd. 9.16
HDFC Bank Ltd. 8.68
Wipro Ltd. 2.74
D.B.Corp. Ltd. 1.78
Lupin Ltd. 1.37
NMDC Ltd. 0.98
Siemens Ltd. 0.59
Total 100.00
Sector Classication
4
5
Dividend Option
22-Oct-10 1.20 13.47
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
5
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
21
st
August, 2009
th
February, 2014
Growth 14.01
Dividend 12.75
Direct Plan:
Growth 14.14
Dividend 12.86
(1 Year) 0.36
Risk Ratios
3
Sharpe Ratio -0.03
Beta 0.87
3
Benchmark Index
CNX Nifty
Vetri Subramaniam
appreciation by investing in equity
and equity related instruments
including equity derivatives of
companies which in our opinion are
leaders in their respective industry or
industry segment.
Software
Banks
Finance
Petroleum Products
Pharmaceuticals
Auto
Oil
Cement
Telecom - Services
Power
Ferrous Metals
Consumer Durables
Gas
Minerals/Mining
Healthcare Services 0.95%
0.98%
1.09%
1.09%
1.34%
1.44%
1.84%
1.85%
2.01%
2.58%
2.92%
3.58%
3.97%
4.06%
6.51%
8.69%
8.79%
9.36%
16.04%
19.17%
1
,
2
As on 28
th
February, 2014
Religare Invesco Business Leaders Fund
z capital appreciation over long-term z 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 z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
1
,
2
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Voltas Ltd. 3.96
Amara Raja Batteries Ltd. 3.41
Siemens Ltd. 2.48
IDFC Ltd. 1.48
Cummins India Ltd. 1.23
NRB Bearing Ltd. 1.17
Gujarat Mineral Development Corp. Ltd. 0.80
Nesco Ltd. 0.67
ESAB India Ltd. 0.50
Total 100.00
Sector Classication
4
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
21
st
November, 2007
th
February, 2014
Growth 7.28
Dividend 7.28
Direct Plan:
Growth 7.35
Dividend 7.34
(1 Year) 0.56
Risk Ratios
3
Sharpe Ratio -0.13
Beta 0.68
3
Benchmark Index
CNX Infrastructure Index
Amit Ganatra
Pranav Gokhale
related instruments of infrastructure
companies.
Transportation
Industrial Products
Power
Telecom - Services
Auto Ancillaries
Healthcare Services
Gas
Minerals/Mining
Cement
Finance
Petroleum Products
Ferrous Metals
Commercial Services 0.67%
0.86%
1.15%
1.48%
1.62%
2.01%
2.41%
2.66%
2.80%
3.18%
3.41%
5.57%
6.66%
9.38%
11.95%
12.49%
13.09%
17.59%
As on 28
th
February, 2014
Religare Invesco Infrastructure Fund
z capital appreciation over long-term z investment in equity and equity-related instruments of infrastructure companies
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
1
,
2
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Voltas Ltd. 3.99
D.B.Corp. Ltd. 3.93
Biocon Ltd. 2.98
Siemens Ltd. 2.18
Mindtree Ltd. 2.09
FAG Bearings India Ltd. 1.17
IDFC Ltd. 0.99
Pidilite Industries Ltd. 0.47
ZF Steering Gear India Ltd. 0.08
Total 100.00
Sector Classication
4
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
17
th
March, 2008
th
February, 2014
Growth 19.38
Dividend 19.37
Direct Plan:
Growth 19.56
Dividend 19.55
(1 Year) 0.50
Risk Ratios
3
Sharpe Ratio 0.10
Beta 0.75
3
Benchmark Index
CNX Mid Cap Index
Vinay Paharia
Since May 14, 2008
related instruments of mid and small
cap companies.
Banks
Transportation
Industrial Products
Consumer Durables
Pesticides
Pharmaceuticals
Software
Auto
Finance
Trading
Petroleum Products
Healthcare Services
Gas
Cement
Power
Chemicals
Auto Ancillaries 0.08%
0.47%
0.56%
1.02%
1.21%
1.49%
1.49%
2.05%
2.17%
2.67%
3.33%
3.40%
4.74%
5.20%
5.39%
5.90%
5.92%
6.08%
6.30%
7.04%
7.40%
8.47%
12.80%
As on 28
th
February, 2014
Religare Invesco Mid N Small Cap Fund
z capital appreciation over long-term z investment predominantly in equity and equity-related instruments of Mid and Small Cap
companies z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
1
,
2
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
or before 18 months from
the date of allotment : 1%
after 18 months from the
date of allotment : Nil
under the Scheme:
For switch from Regular
Plan to Direct Plan:
Applicable exit load
For switch from Direct Plan
to Regular Plan: Nil**
**However, if the Unit holder
redeems/switches-out such
switched units from Regular
Plan before completing
18 months from the date of
original purchase, applicable
exit load will be charged.
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
31
th
January, 2014
th
February, 2014
Growth 10.6150
Dividend 10.6150
Direct Plan:
Growth 10.6253
Dividend 10.6243
Benchmark Index
MSCI Europe-ND
Neelesh Dhamnaskar
Since January 31, 2014
To generate capital appreciation by
investing predominantly in units of
Invesco Pan European Equity Fund,
an overseas equity fund which
invests primarily in equity securities
of European companies with an
emphasis on larger companies.
Religare Invesco Pan European Equity Fund
(An Open-Ended Fund of Funds Scheme)
z capital appreciation over long-term z investment in units of invesco Pan European Equity Fund, an overseas equity fund
z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
Portfolio
Company % of Net
Assets
Units of Overseas Mutual Fund 97.78
Invesco Pan European Equity Fund [Lux] 97.78
Total 100.00
Rating
As on 28
th
February, 2014
The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme.
Asset Allocation
Units of Overseas Mutual Fund 97.78%
Cash & Cash Equivalent 2.22%
1
,
2
,
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
Growth Option:
` 5,000/- & in multiples of ` 1/- thereafter
Dividend Option:
Additional Purchase
Inception Date
01
st
June, 2010
th
February, 2014
Growth 1,267.9206
Dividend 1,088.7177
Direct Plan:
Growth 1,276.7056
Monthly Dividend 1,072.7305
Benchmark Index
65% - CRISIL MIP Blended Fund Index
35% - Price of Gold
Debt Investments:
Sujoy Das
Since September 9, 2010
Equity Investments:
Pranav Gokhale
Gold ETF Investments:
Nitish Sikand
To generate regular income through
a portfolio of xed income securities,
Gold ETFs and equity & equity related
instruments.
Portfolio
Company % of Net
Assets
ITC Ltd. 1.49
Infosys Ltd. 1.45
HDFC Bank Ltd. 1.25
Wipro Ltd. 0.72
Bajaj Finance Ltd. 0.45
Biocon Ltd. 0.40
D.B.Corp Ltd. 0.33
NTPC Ltd. 0.24
Gujarat Mineral Development Corporation Ltd. 0.20
Rating Company % of Net
Assets
Rating
3
Record Date Rate (`/Unit) Cum-Dividend NAV p. u. (`)
Individuals/HUF Others
30-Dec-13 19.98667446 N.A. 1092.4779
30-Jan-13 0.02986710 N.A. 10.6844
Dividend Option
27-Feb-13 0.02111065 0.01809397 10.5781
30-Jan-13 0.02986710 0.02559914 10.6804
28-Dec-12 0.08527444 0.07308884 10.7058
29-Nov-12 0.05482305 0.04698891 10.7712
3
Past 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
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.
Asset Allocation
Corporate Debt 34.93%
Equity Holdings 19.39%
Exchange Traded Funds 17.53%
Government Security 23.58%
Money Market Instruments 1.04%
4
YTM 9.93%
Average Maturrity 1650 days
Modied Duration 1103 days
HSIL Ltd. 0.12
Money Market Instruments 1.04
Certicate of Deposit
Karur Vysya Bank Ltd. CRISIL A1+ 0.70
Yes Bank Ltd. ICRA A1+ 0.34
Corporate Debt 34.93
Religare Finvest Ltd. ICRA AA- 10.91
Shriram Transport Finance
Company Ltd. CRISIL AA 9.06
Company Ltd. CARE AA+ 9.05
ICICI Home Finance Company Ltd. CARE AAA 5.15
Mahindra Vehicle Mfg. Ltd. ICRA AA 0.57
LIC Housing Finance Ltd. CRISIL AAA 0.18
Mutual Fund/Exchange Traded
Fund Units 17.53
Religare Invesco Gold
Exchange Traded Fund 17.53
Government Security 23.58
8.83% GOI (MD 25/11/2023) Sovereign 23.58
Total 100.00
As on 28
th
February, 2014
(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.)
z regular income over medium to long term z provide regular income by investing in xed income securities, Gold ETFs and equity
& equity related instruments z medium risk (YELLOW)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
22
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
Growth Option:
Dividend Option:
Additional Purchase
Inception Date
1
st
June, 2010
th
February, 2014
Growth 1,248.0863
Dividend 1,029.4258
Direct Plan:
Growth 1,261.5175
Benchmark Index
CRISIL MIP Blended Fund Index
Debt Investments:
Sujoy Das
Equity Investments:
Pranav Gokhale
To generate regular income through
a portfolio of predominantly high
quality xed income securities and
with a small exposure to equity and
equity related instruments.
Portfolio
Company % of Net
Assets
ITC Ltd. 1.52
Infosys Ltd. 1.40
HDFC Bank Ltd. 1.27
Wipro Ltd. 0.73
Biocon Ltd. 0.40
Bajaj Finance Ltd. 0.36
D.B.Corp Ltd. 0.34
Assets
Rating
3
Dividend Option
30-Oct-13 8.14870250 7.80418127 1051.7276
27-Sep-13 16.64715005 15.94332062 1049.2409
30-May-13 5.17371113 4.40823614 1043.5734
29-Apr-13 3.91265143 3.33369643 1035.1367
3
Past 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. The above table does not include the details of all the dividends declared in the scheme.
Asset Allocation
Corporate Debt 3.38%
Equity Holdings 19.78%
Government Security 67.42%
4
YTM 8.90%
NTPC Ltd. 0.24
Gujarat Mineral Development Corporation Ltd. 0.22
HSIL Ltd. 0.12
Corporate Debt 3.38
Religare Finvest Ltd. ICRA AA- 3.38
8.83% GOI (MD 25/11/2023) Sovereign 67.42
Total 100.00
1
,
2
,
4
(An open ended income scheme. Monthly income is not assured and is subject to availability of distributable surplus.)
z regular income over medium to long term z provide regular income by investing in high quality xed income securities and with
a small exposure to equity and equity related instruments z medium risk (YELLOW)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
As on 28
th
February, 2014
23
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
17
th
November, 2006
th
February, 2014
Growth 1,749.3527
Daily Dividend 1,001.0800
Weekly Dividend 1,002.0800
Bonus 1,749.3686
Direct Plan:
Growth 1,750.4899
Bonus 1,750.5094
Regular Plan:
Growth 1,663.3006
Institutional Plan:
Growth 1,702.9575
Benchmark Index
December, 2013 ` 5,221.27 crores
Krishna Cheemalapati
Since April 25, 2011
To provide reasonable returns,
commensurate with low risk
while providing a high level of
liquidity,through a portfolio of money
market and debt securities.
Portfolio
Company % of Net
Assets
IDBI Bank Ltd. CRISIL A1+ 4.29
Syndicate Bank CARE A1+ 3.96
Indusind Bank Ltd. CRISIL A1+ 3.74
Union Bank of India CRISIL A1+ 3.19
Yes Bank Ltd. ICRA A1+ 2.13
Oriental Bank of Commerce CRISIL A1+ 1.71
Canara Bank CRISIL A1+ 1.60
Bank of India CRISIL A1+ 1.60
Bank of Maharashtra CRISIL A1+ 1.60
Allahabad Bank ICRA A1+ 1.59
Vijaya Bank CARE A1+ 1.59
Corporation Bank CRISIL A1+ 1.58
Indian Overseas Bank CRISIL A1+ 1.58
South Indian Bank Ltd. CARE A1+ 1.37
UCO Bank CRISIL A1+ 1.19
Andhra Bank CARE A1+ 0.80
Kotak Mahindra Bank Ltd. CRISIL A1+ 0.80
Axis Bank Ltd. CRISIL A1+ 0.80
The Jammu & Kashmir Bank Ltd. CRISIL A1+ 0.79
ICICI Bank Ltd. ICRA A1+ 0.53
Allahabad Bank CARE A1+ 0.24
Ratnakar Bank Ltd. ICRA A1+ 0.08
Tamilnad Mercantile Bank CRISIL A1+ 0.05
Commercial Paper
Indiabulls Housing Finance Ltd. CRISIL A1+ 6.38
Indian Oil Corporation Ltd. ICRA A1+ 6.37
SREI Equipment Finance Ltd. ICRA A1+ 3.98
Magma Fincorp Ltd. CARE A1+ 3.65
Assets
Rating
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Liquid Fund
(An Open-Ended Liquid Scheme)
z regular income over short term z provide reasonable returns with high liquidity by investing in money market and debt securities
z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
3
Direct Plan - Monthly Dividend
26-Feb-14 5.01108019 NA 1009.3803
30-Jan-14 5.88221648 NA 1010.4980
30-Dec-13 6.2118673 NA 1010.9212
28-Nov-13 5.82884247 NA 1010.4281
Monthly Dividend
26-Feb-14 4.97015175 NA 1009.3281
30-Jan-14 5.83502341 NA 1010.4379
30-Dec-13 6.16366941 NA 1010.8591
28-Nov-13 5.78494169 5.53944652 1010.3720
3
Past 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.
The above table does not include the details of all the dividends declared in the scheme.
Rating Prole Maturity Prole
CRISIL A1+, CARE A1+, ICRA A1+ 90.40%
Sovereign 4.78%
Fixed Deposits 0.64%
< 31 days 73.38%
31 - 90 days 22.44%
4
YTM 8.88%
Piramal Enterprises Ltd. ICRA A1+ 3.19
Chennai Petroleum
Corporation Ltd. ICRA A1+ 3.19
Sesa Sterlite Ltd. CRISIL A1+ 2.71
Gruh Finance Ltd. CRISIL A1+ 2.39
Small Industries Dev Bank of India CARE A1+ 2.39
National Housing Bank ICRA A1+ 2.38
Reliance Capital Ltd. CRISIL A1+ 2.37
India Infoline Finance Ltd. ICRA A1+ 1.97
Aditya Birla Finance Ltd. ICRA A1+ 1.60
Coromandel International Ltd. CRISIL A1+ 1.59
JSW Steel Ltd. CARE A1+ 1.59
Jindal Steel & Power Ltd. CARE A1+ 1.58
Tata Capital Financial Services Ltd. ICRA A1+ 1.19
Sundaram Finance Ltd. ICRA A1+ 0.80
Tube Investments of India Ltd. CRISIL A1+ 0.80
TGS Investment & Trade Pvt Ltd. ICRA A1+ 0.80
Talwandi Sabo Power Ltd. CRISIL A1+ 0.79
Nirma Ltd. CRISIL A1+ 0.79
S.D. Corporation Pvt. Ltd. ICRA A1+ 0.79
Thomas Cook (India) Ltd. CRISIL A1+ 0.32
Treasury Bill
182 Days Tbill (MD 13/03/2014) Sovereign 1.60
91 Days Tbill (MD 20/03/2014) Sovereign 1.59
182 Days TBill (MD 27/03/2014) Sovereign 1.59
Fixed Deposits 0.64
Vijaya Bank 0.64
Total 100.00
24
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
18
th
January, 2007
th
February, 2014
Growth 1,752.7229
Discretionary Dividend 1,118.4820
Bonus 1,125.1470
Direct Plan:
Growth 1,760.0472
Bonus 1,130.0102
Regular Plan:
Growth 1,667.8056
Bonus 1,608.3795
Benchmark Index
Krishna Cheemalapati
Since January 1, 2013
To provide liquidity and optimal
returns to the investor by investing
primarily in a mix of short term debt
and money market instruments
which results in a portfolio having
marginally higher maturity and
moderately higher credit risk as
compared to a liquid fund at the
same time maintaining a balance
between safety and liquidity.
Portfolio
Company % of Net
Assets
Assets
Rating
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Ultra Short Term Fund
(An Open-Ended Debt Scheme)
z regular income over short term z provide optimal returns while maintaining balance between safety and liquidity by investing in
a mix of short term debt and money market instruments z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
3
27-Feb-13 10.07359678 N.A. 1020.5484
Monthly Dividend
26-Feb-14 5.28429403 5.06087792 1033.2895
30-Jan-14 5.89784670 5.64849002 1034.4943
30-Dec-13 6.01191654 5.75773707 1034.8200
28-Nov-13 4.66475536 N.A. 1033.0550
Discretionary Dividend
16-Jan-12 N.A. 23.73203670 1031.4432
26-Sep-11 N.A. 2.55872220 1006.0226
21-Jul-11 N.A. 6.70331059 1008.8782
Regular Plan - Monthly Dividend
26-Feb-14 4.42028117 N.A. 1042.5976
30-Jan-14 3.29212106 N.A. 1041.3445
30-Dec-13 5.43463791 N.A. 1041.6737
28-Nov-13 3.30236228 N.A. 1038.9073
3
CRISIL A1+, CARE A1+, ICRA A1+, 76.39%
IND A1+
CRISIL AAA, ICRA AAA 4.90%
< 31 days 8.99%
31 - 90 days 12.21%
91 - 180 days 59.23%
181 days - 1 year 0.86%
4
YTM 9.54%
Essel Mining And Industries Ltd. ICRA A1+ 7.96
Afcons Infrastructure ICRA A1+ 5.56
Shapoorji Pallonji & Co Ltd. ICRA A1+ 3.98
SREI Equipment Finance Ltd. CARE A1+ 0.82
IL&FS Financial Services Ltd. IND A1+ 0.05
Corporate Debt 4.90
Power Finance Corporation Ltd. ICRA AAA 4.08
Total 100.00
Indian Bank IND A1+ 8.12
Dena Bank CRISIL A1+ 7.98
IDBI Bank Ltd. ICRA A1+ 7.98
Bank of Baroda CRISIL A1+ 7.96
Bank of Maharashtra CRISIL A1+ 4.09
Karur Vysya Bank Ltd. ICRA A1+ 4.08
Commercial Paper
Tata Power Company Ltd. ICRA A1+ 9.87
25
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
or before 30 days from the
date of allotment : 0.25%
after 30 days from the date
of allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
24
th
March, 2007
th
February, 2014
Growth 1,679.5299
Direct Plan:
Growth 1,696.5539
Bonus 1,696.5983
Plan B:
Growth 1,673.2001
Benchmark Index
CRISIL Short Term Bond Fund Index
Sujoy Das
To generate steady returns with
a moderate risk for investors by
investing in a portfolio of short-
medium term debt and money
market instruments.
CRISIL AAA. CARE AAA, ICRA AAA 63.86%
CRISIL A1+ 5.85%
ICRA AA+, CARE AA+ 12.98%
CRISIL AA, CARE AA 1.99%
Sovereign 0.87%
< 31 days 0.06%
31 - 90 days 6.36%
91 - 180 days 9.51%
181 days - 1 year 34.91%
1 - 2 years 12.85%
2 - 3 years 17.73%
3 - 5 years 3.26%
5 - 10 years 0.87%
4
YTM 9.69%
Portfolio
Company % of Net
Assets
Power Finance Corporation Ltd. CRISIL AAA 15.36
Rural Electrication
Corporation Ltd. CRISIL AAA 10.06
Power Grid Corporation of
India Ltd. CRISIL AAA 6.67
National Bank For Agriculture
and Rural Development CRISIL AAA 6.43
Indiabulls Housing Finance Ltd. CARE AA+ 3.87
IDFC Ltd. ICRA AAA 3.07
Export Import Bank of India CRISIL AAA 3.06
Magma Fincorp Ltd. CARE AA+ 3.05
Steel Authority of India Ltd. CARE AAA 3.03
L&T Finance Ltd. ICRA AA+ 2.46
Company Ltd. CARE AA+ 2.15
Housing Development Finance
Corp. Ltd. CRISIL AAA 2.14
Assets
Rating
Petronet LNG Ltd. ICRA AA+ 1.46
Company Ltd. CRISIL AA 1.23
Tata Motors Ltd. CRISIL AAA 0.84
Shriram City Union Finance Ltd. CARE AA 0.46
Tata Motors Finance Ltd. CRISIL AA 0.31
Commercial Paper
Sesa Sterlite Ltd. CRISIL A1+ 5.79
Cholamandalam Investment
and Finance Company Ltd. CRISIL A1+ 0.06
8.12% GOI (MD 10/12/2020) Sovereign 0.87
Total 100.00
3
26-Feb-14 4.53559322 N.A. 1056.1703
30-Jan-14 4.80483148 4.60168669 1056.5158
30-Dec-13 5.84079486 5.59385029 1057.8452
28-Nov-13 2.85408143 N.A. 1054.0125
Monthly Dividend
26-Feb-14 3.84734074 3.68467796 1052.3571
30-Jan-14 4.00132476 3.83215165 1052.5547
30-Dec-13 4.96068576 4.75095156 1053.7858
28-Nov-13 2.07184882 1.98425256 1050.0787
Plan B - Monthly Dividend
29-Apr-13 14.15411326 12.05962963 1086.3887
26-Mar-13 0.06962017 0.0596714 10.7813
27-Feb-13 0.01316549 0.01128417 10.7172
30-Jan-13 0.07628689 0.06538558 10.7889
3
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 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.
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Short Term Fund
(An Open-Ended Income Scheme)
z regular income over short to medium term z provide steady returns by investing in short-medium term debt and money market
instruments. z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
26
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
or before 1 month from the
after 1 month from the date
of allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
28
th
August, 2009
th
February, 2014
Growth 1,444.7567
Direct Plan:
Growth 1,449.1581
Bonus 1,449.1470
Regular Plan:
Growth 1,392.4103
Bonus 1,444.7712
Benchmark Index
Nitish Sikand
To generate high level of current
income (vis-a-vis treasury bills)
consistent with preservation of
capital and maintenance of liquidity
by investing primarily in investment-
grade debt securities and money
market instruments.
Portfolio
Company % of Net
Assets
Commercial Paper
Muthoot Finance Ltd. CRISIL A1+ 9.52
India Infoline Finance Ltd. CRISIL A1+ 9.48
Talwandi Sabo Power Ltd. CRISIL A1+ 8.28
Alkem Laboratories Ltd. CRISIL A1+ 7.66
EID Parry India Ltd. CRISIL A1+ 6.33
Eros International Media Ltd. CARE A1+ 6.31
Manaksia Ltd. CARE A1+ 5.71
Dewan Housing Finance
Corporation Ltd. CRISIL A1+ 5.67
JK Lakshmi Cement Ltd. CARE A1+ 5.08
Bajaj Electricals Ltd. ICRA A1+ 3.19
Assets
Rating
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Credit Opportunities Fund
z regular income over short to medium term z provide high level of current income (vis--vis treasury bills) by investing in
investment-grade low duration debt securities and money market instruments z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
3
26-Feb-14 5.44157413 5.21150832 1024.7329
30-Jan-14 6.25349698 5.98910366 1025.7748
30-Dec-13 6.53668420 6.26031793 1026.1382
28-Nov-13 6.17744789 5.91626987 1025.6772
Monthly Dividend
26-Feb-14 5.29577245 5.07187104 1024.5458
30-Jan-14 6.08626534 5.82894246 1025.5602
30-Dec-13 6.36056887 6.09164863 1025.9122
28-Nov-13 5.97496980 5.72235241 1025.4174
31-May-12 N.A. 0.25157612 10.3544
Regular Plan - Monthly Dividend
26-Feb-14 4.51369569 4.32285991 1026.8722
30-Jan-14 5.18776544 4.96843048 1027.7372
30-Dec-13 5.43362556 5.20389581 1028.0527
28-Nov-13 5.16930450 4.95075006 1027.7135
3
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.
BWR A1+
< 31 days 56.62%
31 - 90 days 41.64%
4
YTM 9.84%
JK Cement Ltd. CARE A1+ 3.19
Rohit Surfactants Pvt Ltd. CRISIL A1+ 3.19
Sadashiva Sugars Ltd. CRISIL A1+ 3.18
Redington (India) Ltd. ICRA A1+ 3.17
India Infoline Finance Ltd. ICRA A1+ 3.14
TVS Credit Services BWR A1+ 2.55
HSIL Ltd. CARE A1+ 1.27
National Engineering
Industries Ltd. CARE A1+ 1.26
NRB Bearing Ltd. CRISIL A1+ 0.63
Total 100.00
1
,
2
,
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
or before 45 days from the
after 45 days from the date
of allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
30
th
December, 2010
th
February, 2014
Growth 1,262.6257
Quarterly Dividend 1,057.7926
Annual Dividend 1,093.0987
Bonus 1,262.6005
Direct Plan:
Growth 1,273.1843
Bonus 1,273.2143
Benchmark Index
CRISIL Composite Bond Fund Index
Nitish Sikand
To generate regular income and
capital appreciation by investing in a
portfolio of medium term debt and
money market instruments.
Portfolio
Company % of Net
Assets
Assets
Rating
Record Date
CRISIL AAA, CARE AAA, ICRA AAA 52.37%
CRISIL A1+, ICRA A1+ 18.46%
< 31 days 8.22%
91 - 180 days 10.23%
181 days - 1 year 5.51%
1 - 2 years 20.74%
2 - 3 years 16.71%
3 - 5 years 9.42%
4
YTM 9.23%
3
Rate (`/Unit) Cum-Dividend NAV p. u. (`)
30-May-13 11.14546757 N.A. 1021.5638
29-Apr-13 11.45890764 N.A. 1021.8878
26-Mar-13 0.04590834 N.A. 10.1403
27-Feb-13 0.05294113 N.A. 10.1484
Monthly Dividend
26-Feb-14 3.48037835 3.33323048 1036.5930
30-Jan-14 1.62101139 1.55247621 1034.3683
30-May-13 10.70684257 9.12246332 1021.0632
29-Apr-13 10.42602755 8.88320145 1020.7426
Direct Plan - Quarterly Dividend
17-Jun-13 23.34655298 N.A. 1053.7695
15-Mar-13 0.12897476 N.A. 10.4107
Quarterly Dividend
17-Jun-13 17.39434328 16.65892306 1048.7447
15-Mar-13 0.12988965 0.11132206 10.3858
17-Dec-12 0.23458690 0.20106945 10.4586
17-Sep-12 0.11539995 0.09890957 10.3806
Direct Plan - Annual Dividend
15-Mar-13 0.13785312 N.A. 11.1275
Annual Dividend
15-Mar-13 0.65716206 N.A. 11.1009
15-Mar-12 0.62976036 0.53977281 10.9104
15-Mar-11 0.06061157 N.A. 10.1221
3
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
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.
As on 28
th
February, 2014
Religare Invesco Medium Term Bond Fund
z regular income over medium term z provide regular income and capital appreciation by investing in medium term debt and money
market instruments having residual maturity upto 5 years z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
LIC Housing Finance Ltd. CARE AAA 0.67
Commercial Paper
Sundaram Finance Ltd. CRISIL A1+ 6.74
Tata Power Company Ltd. ICRA A1+ 4.98
Afcons Infrastructure ICRA A1+ 1.97
Total 100.00
Rural Electrication
Housing Development Finance
Corp. Ltd. CRISIL AAA 10.74
Small Industries Development
Bank of India CARE AAA 5.37
Export Import Bank of India CRISIL AAA 4.76
Power Grid Corporation of
India Ltd. CRISIL AAA 3.98
28
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
Additional Purchase
Inception Date
02
nd
August, 2007
th
February, 2014
Growth 1,452.5478
Bonus 1,079.3711
Direct Plan:
Growth 1,462.2032
Bonus 1,086.9539
Plan B:
Growth 1,306.6141
Benchmark Index
CRISIL Composite Bond Fund Index
Sujoy Das
To generate optimal returns while
maintaining liquidity through active
management of the portfolio by
investing in debt and money market
instruments. As the portfolio of the
scheme will be actively managed, the
Scheme may have a high turnover
in order to achieve the investment
objective.
CRISIL AAA, CARE AAA, ICRA AAA 41.55%
CARE AA+ 1.46%
Sovereign 30.06%
31 - 90 days 0.19%
91 - 180 days 0.50%
181 days - 1 year 8.71%
1 - 2 years 5.84%
2 - 3 years 19.21%
3 - 5 years 5.88%
5 - 10 years 25.53%
10 - 15 years 7.21%
4
YTM 9.14%
Portfolio
Company % of Net
Assets
Housing Development
Finance Corp. Ltd. CRISIL AAA 9.58
National Housing Bank CRISIL AAA 7.25
Rural Electrication
Airport Authority of India Ltd. CRISIL AAA 4.83
National Bank For Agriculture
and Rural Development CRISIL AAA 3.90
Reliance Utilities & Power Pvt Ltd. CRISIL AAA 2.69
Steel Authority of India Ltd. CARE AAA 2.38
Assets
Rating
Indiabulls Housing Finance Ltd. CARE AA+ 1.46
Power Grid Corporation
of India Ltd. CRISIL AAA 0.95
8.83% GOI (MD 25/11/2023) Sovereign 14.13
8.28% GOI (M/D 21/09/2027) Sovereign 7.21
8.12% GOI (MD 10/12/2020) Sovereign 5.54
7.28% GOI (MD 03/06/2019) Sovereign 3.18
Total 100.00
3
30-May-13 25.62679097 21.83466708 1108.7063
29-Apr-13 15.42897466 13.14585883 1097.0641
27-Feb-13 0.07784125 0.06671762 10.8829
30-Jan-13 0.06351384 N.A. 10.8666
Monthly Dividend
30-May-13 24.84067055 21.16480139 1100.4287
29-Apr-13 14.20182075 12.10027173 1088.2832
27-Feb-13 0.07400647 0.063431 10.8048
30-Jan-13 0.12516763 0.10728137 10.8628
15-Mar-13 1.57136968 N.A. 13.9281
Annual Dividend
15-Mar-12 0.81094060 N.A. 11.1651
15-Mar-11 0.39547700 N.A. 10.6527
15-Mar-10 0.01400000 0.01300000 10.0251
15-Mar-13 0.13645317 0.00000000 10.3162
Quarterly Dividend
15-Mar-13 0.25194041 0.00000000 10.3061
15-Sep-12 0.23035807 0.00000000 10.3492
15-Jun-12 0.23079458 0.00000000 10.3554
15-Mar-12 0.19168513 0.00000000 10.2854
27-Jun-12 N.A. 0.45192015 10.6326
Plan B - Monthly Dividend
30-Jul-12 0.07448179 0.063792 10.9225
28-Feb-12 0.11589883 0.09920477 10.6358
28-Oct-11 0.03707525 0.03177745 10.4009
28-Sep-11 0.04384749 0.03758136 10.4085
Plan B - Quarterly Dividend
15-Mar-13 0.2299179 0.00000000 10.3226
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
3
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
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.
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Active Income Fund
z regular income over medium to long term z provide optimal returns while maintaining liquidity through actively managed
portfolio of debt and money market instruments z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
1
,
2
,
4
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
29
th
December, 2012
th
February, 2014
Growth 1,084.5563
Bonus 1,084.5298
Direct Plan:
Growth 1,097.4010
Bonus 1,097.4017
Benchmark Index
Nitish Sikand
To generate optimal returns by
investing in a portfolio of debt &
money market instruments issued
primarily by banks.
3
26-Feb-14 4.03483343 3.86424360 1015.1777
30-Jan-14 5.28938243 5.06575118 1016.7876
30-Dec-13 6.20409117 5.94178670 1017.9614
28-Nov-13 3.12723164 2.99501455 1014.0130
Monthly Dividend
26-Feb-14 3.44991233 3.30405254 1014.4271
30-Jan-14 4.61671537 4.42152399 1015.9244
30-Dec-13 5.50890318 5.27599075 1017.0693
28-Nov-13 2.49974674 2.39405926 1013.2078
3
Past 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. The above table does not include the details of all the dividends declared in the scheme.
IND A1+
CRISIL AAA, ICRA AAA 25.05%
< 31 days 66.60%
31 - 90 days 2.77%
1 - 2 years 2.89%
2 - 3 years 18.04%
5 - 10 years 4.11%
4
YTM 8.75%
Portfolio
Company % of Net
Assets
Punjab National Bank ICRA AAA 2.77
Rural Electrication
State Bank of India CRISIL AAA 2.74
State Bank of Bikaner and
Jaipur CRISIL AAA 1.38
Punjab National Bank CRISIL AAA 1.38
Bank of Baroda CRISIL AAA 1.38
State Bank of Mysore CRISIL AAA 1.37
Union Bank of India CRISIL AAA 0.05
Assets
Rating
Indian Bank IND A1+ 13.97
Canara Bank CRISIL A1+ 9.73
Bank of India CRISIL A1+ 6.98
Bank of Baroda CRISIL A1+ 6.98
Andhra Bank CARE A1+ 6.98
State Bank of Hyderabad ICRA A1+ 6.97
Allahabad Bank CARE A1+ 4.19
Karur Vysya Bank Ltd. ICRA A1+ 2.50
South Indian Bank Ltd. CARE A1+ 0.17
Total 100.00
As on 28
th
February, 2014
Religare Invesco Bank Debt Fund
(An Open-Ended Debt Scheme)
z regular income over short to medium term z provide optimal returns by investing in debt and money market instruments issued
primarily by banks z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
30
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
or before 6 months from the
after 6 months but on or
before 1 year from the date
of allotment : 1%
allotment : Nil
under the Scheme:
load
Plan: Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
5
th
December, 2011
th
February, 2014
Growth 10.1600
Dividend 10.1594
Direct Plan:
Growth 10.1893
Dividend 10.1887
Benchmark Index
Price of Gold
Nitish Sikand
To provide returns that closely
corresponds to returns provided
by Religare Invesco Gold Exchange
Traded Fund
The investor will bear the recurring expenses of the scheme, in addition to the expenses of underlying scheme.
Asset Allocation
Exchange Traded Funds 100.19%
Cash & Cash Equivalent -0.19%
Portfolio
Company % of Net
Assets
Exchange Traded Funds 100.19
Religare Invesco Gold Exchange Traded Fund 100.19
Cash & Cash Equivalent -0.19
Total 100.00
Rating
1
,
2
,

As on 28
th
February, 2014
Religare Invesco Gold Fund
(An Open-Ended Fund of Funds Scheme)
z regular income and capital appreciation over medium to long-term z investment in units of Religare Invesco Gold ETF, which in
turn invests in physical gold z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
31
% of Net
Assets
Rating
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
14
th
September, 2007
th
February, 2014
Growth 1,493.7928
Daily Dividend Reinvestment 1,001.3575
Bonus 1,493.6911
Direct Plan:
Growth 1,498.7670
Daily Dividend Reinvestment 1,000.0100
Bonus 1,498.6694
Benchmark Index
Sujoy Das
To provide liquidity to the investors
while mirroring overnight returns.
4
YTM 7.69%
Average Maturrity 1 day
Modied Duration 1 day
Portfolio
Company
Cash & Cash Equivalent 100.00*
Total 100.00
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Overnight Fund
(An Open-Ended Liquid Scheme)
z optimal returns over very short duration z mirroring overnight return by investing in CBLO, reverse repos, debt and money
market instruments z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
% of Net
Assets
*This includes deployment of Rs. 10.73 crores in Collateralized Borrowing & Lending
Obligation (CBLO).
32
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
9
th
February, 2008
th
February, 2014
Growth 1,411.5766
Bonus 1,411.5723
Direct Plan:
Growth 1,419.7188
Bonus 1,419.6829
Benchmark Index
I-Sec Si-BEX
Sujoy Das
investing in a portfolio of securities
issued and guaranteed by Central
and State Government.
Portfolio
Company % of Net
Assets
Treasury Bill
91Days Tbill (MD 27/03/2014) Sovereign 19.47
Total 100.00
Rating
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Gilt Fund - Short Duration Plan
(An Open-Ended Dedicated Gilt Fund)
z credit risk free returns over short to medium term z provide optimal returns by investing in securities issued and guaranteed by
Central and State Government with portfolio maturity of less than 3 years z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
3
Record Date
Rate (`/Unit)
Cum-Dividend NAV p. u. (`)
26-Feb-14 5.31618936 NA 1127.8220
30-Jan-14 6.20159751 NA 1128.9582
30-Dec-13 6.55624391 NA 1129.4133
28-Nov-13 5.50835769 NA 1128.0686
Monthly Dividend
26-Feb-14 5.33147184 NA 1136.3959
30-Jan-14 5.93025294 NA 1137.3424
30-Dec-13 6.49183889 NA 1137.8958
28-Nov-13 5.80815823 NA 1137.1199
3
4
YTM 8.07%
Maturity Prole
< 31 days 19.47%
33
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
Minimum Investment
` 1/- thereafter
Additional Purchase
` 1/- thereafter
Inception Date
09
th
February, 2008
th
February, 2014
Growth 1,285.7928
Quarterly Dividend 977.9547
Bonus 1,293.9752
Direct Plan:
Growth 1,300.6672
Bonus 1,300.6989
Benchmark Index
I-Sec Li-BEX
Sujoy Das
investing in a portfolio of securities
issued and guaranteed by Central
and State Government.
Portfolio
Company % of Net
Assets
8.83% GOI (MD 25/11/2023) Sovereign 77.52
7.28% GOI (MD 03/06/2019) Sovereign 16.43
Total 100.00
Rating
4
YTM 8.84%
Maturity Prole
5 - 10 years 93.95%
1
,
2
,
4
As on 28
th
February, 2014
Religare Invesco Gilt Fund - Long Duration Plan
(An Open-Ended Dedicated Gilt Fund)
z credit risk free returns over medium to long-term z provide optimal returns by investing in securities issued and guaranteed by
Central and State Government with portfolio maturity of greater than 3 years z low risk (BLUE)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
3
Record Date
Rate (`/Unit)
Cum-Dividend NAV p. u. (`)
27-Jun-13 15.51513735 14.85916859 1040.9098
27-Feb-13 0.24276506 N.A. 10.4856
Monthly Dividend
27-Feb-13 0.12655283 0.10846819 10.4561
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
15-Mar-13 0.21566408 N.A. 10.4334
Quarterly Dividend
15-Mar-13 0.35006562 N.A. 10.3974
15-Sep-12 0.436843941 N.A. 10.6349
15-Sep-11 0.16446324 N.A. 10.1867
15-Mar-11 0.09038997 0.08423749 10.1468
15-Mar-13 0.2369606 N.A. 11.5586
Annual Dividend
15-Mar-12 0.64307184 0.55100000 11.3501
15-Mar-11 0.64684732 0.60240000 11.4675
3
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.
34
Load Structure
Entry Load
1
Nil
Exit Load Nil
(For redemption in
Creation Unit size.)
Minimum Investment
2
On Exchange : 1 Unit
Directly with Mutual Fund : 1,000 Units
and in multiples thereof.
Listing Exchange
NSE / BSE
NSE /BSE Symbol
RELIGAREGO
BSE Code
533172
ISIN
INF205K01361
Inception Date
12
th
March, 2010
Pricing per Unit
1 gram of gold (approx.)
th
February, 2014
2,941.1825
Tracking Error
3
0.03% (annualised)
Benchmark Index
Price of Gold
Nitish Sikand
Since March 12, 2010
To generate returns that closely
correspond to the returns provided by
investment in physical gold in the domestic
market, subject to tracking error.
Portfolio
Company % of Net
Assets
Gold 99.58
Gold 99.58
Total 100.00
As on 28
th
February, 2014
Religare Invesco Gold Exchange Traded Fund
(An Open-Ended Gold Exchange Traded Fund)
Key Facts
z capital appreciation over long term z generate returns that closely correspond to the returns provided by investment in physical
gold in the domestic market, subject to tracking error z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
1
, Note on Direct Plan and Disclaimer
2
Investor 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.
3
Based on 1 year monthly
data history.
1
and Disclaimers
To generate returns which
closely correspond to the
returns generated by securities
as represented by CNX Nifty
Index, subject to tracking error,
if any
Portfolio
Company % of Net
Assets
Company % of Net
Assets
Infosys Ltd. 8.95
ITC Ltd. 8.77
HDFC Bank Ltd. 6.01
Tata Motors Ltd. 3.64
Sun Pharmaceuticals Industries Ltd. 2.36
Mahindra & Mahindra Ltd. 2.18
HCL Technologies Ltd. 2.04
Axis Bank Ltd. 1.90
Wipro Ltd. 1.90
Hindustan Unilever Ltd. 1.89
Bharti Airtel Ltd. 1.66
Bajaj Auto Ltd. 1.27
Lupin Ltd. 1.16
Hero MotoCorp Ltd. 1.15
NTPC Ltd. 1.12
Sesa Sterlite Ltd. 1.07
Asian Paints Ltd. 1.04
Cipla Ltd. 0.95
Cairn India Ltd. 0.93
Ultratech Cement Ltd. 0.91
Indusind Bank Ltd. 0.82
Hindalco Industries Ltd. 0.66
Bharat Heavy Electricals Ltd. 0.64
Ambuja Cements Ltd. 0.62
Tata Power Company Ltd. 0.61
IDFC Ltd. 0.57
ACC Ltd. 0.50
Bank of Baroda 0.50
NMDC Ltd. 0.49
Jindal Steel & Power Ltd. 0.44
DLF Ltd. 0.31
Ranbaxy Laboratories Ltd. 0.27
Jaiprakash Associates Ltd. 0.25
Total 100.00
Sector Classication
5
6
Dividend Option
26-Dec-12 5 596.3176
Record Date Rate
(`/ Unit)
Cum-Dividend
NAV p.u. (`)
6
5
Key Facts
Load Structure
Entry Load
1
Nil
Exit Load
2
Nil
(For redemption in
Creation Unit size.)
Minimum Investment
3
On Exchange : 1 Unit
Directly with Mutual Fund : 5,000 Units
and in multiples thereof.
Listing Exchange
NSE
NSE Symbol
RELGRNIFTY
ISIN
INF205K01DA9
Inception Date
13
th
June, 2011
Pricing per Unit
1/10
th
of the value of S&P CNX Nifty (approx.)
th
February, 2014
631.6769
Tracking Error
4
0.12% (annualised)
Benchmark Index
CNX Nifty
Pranav Gokhale
Since June 13, 2011
As on 28
th
February, 2014
Religare Invesco Nifty Exchange Traded Fund
(An Open-Ended Exchange Traded Fund)
z capital appreciation over long term z generate returns that closely correspond to the returns generated by securities represented
by CNX Nifty Index, subject to tracking error, if any z high risk (BROWN)

low risk
(YELLOW) Investors
Note: Risk is
represented as:
(BROWN) Investors
Banks
Software
Auto
Petroleum Products
Finance
Pharmaceuticals
Oil
Cement
Power
Minerals/Mining
Telecom - Services
Ferrous Metals
Gas
Construction 0.55%
0.64%
0.66%
0.81%
1.56%
1.66%
2.31%
2.75%
2.83%
3.43%
4.38%
6.52%
6.77%
6.86%
9.25%
11.70%
18.52%
18.68%
2
Please 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.
3
Investor 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.
4
Based on 1 year monthly
data history.
36
1
The 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.
2
Exit load charged, if any, will be credited back to the scheme, net of service tax.
4
YTM : 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 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/ afliates / sponsors / trustee (Religare Invesco AMC
Group) or their ofcers, 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 / nancial / other professionals) prior to taking of any decision, acting or omitting to act, on the basis
of the information contained herein.
M
K
T
G
/
F
S
/
0
2
1
4
/
C
1
0
2
6
Q
Agra : 0562 - 6459171
Q
Ahmedabad : 079 - 40300304
Q
Allahabad : 0532 - 6455816
Q
Bengaluru : 080- 42941000
Q
Baroda : 0265 - 6643389
Q
Bhopal : 0755 - 4253972
Q
Bhubaneshwar : 0674 - 6532062
Q
Chandigarh : 0172 - 6451315
Q
Chennai : 044 - 64502422
Q
Dehradun : 0135 - 6453212
Q
Delhi : 011 - 43789000
Q
Guwahati : 0361 - 2739917
Q
Hyderabad : 040 - 65444012
Q
Indore : 0731 - 4257351
Q
Jaipur : 0141 - 6451086
Q
Jamshedpur : 0657 - 2321534
Q
Kanpur : 0512 - 6451658
Q
Kochi : 0484 - 6453727
Q
Kolkata : 033 - 44031012
Q
Lucknow : 0522 - 4000841
Q
Madurai : 0452 - 6460114
Q
Mumbai (H.O) : 022 - 67310000
Q
Nagpur : 0712 - 6463962
Q
Panjim : 0832 - 6650402
Q
Patna : 0612 - 6550318 / 220661
Q
Pune : 020 - 30296394
Q
Raipur : 0771 - 4056046
Q
Surat : 0261 - 6450848
AMC Branches
37
Mutual Fund i nvestments are subj ect to market ri sks,
read al l scheme rel ated documents caref ul l y.
Religare Invesco Asset Management Company Private Limited
GYS Innity, 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

Religare Invesco Mutual Fund - Feb - 2014

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