Bees Presentation

GS BeESExchange Traded Funds April 2015 Presentation flow  Indexing as a strategy  GS BeES – advantages & buy/sell mechanism  ETF growth – international & India  GS BeES – product details  About us 1 Why you should consider index investing?  Elimination of non-systemic risks Reduce risk  Investing in an index fund makes no attempt at forecasts and analysis Lower expenses  Cost of researching stocks, industries, sectors etc eliminated  Exposure to segments of markets and also entire markets  Easier to buy index fund versus individual stocks  Indices across asset classes (equity, fixed income, gold, etc.)  Easy to track portfolio  Actions of large numbers of active investors set stock prices & index investors benefit from this at a low cost Broad diversification Asset allocation Benefit from expert opinion 2 70% p.  Tracking error3 ranges between 0. or other broad-based economic.a.25% to 1. 3 .65% Data as on 31st March 2015 1 -Source: MFI explorer. there are 48 index funds. Service tax may be charged over and above total expense.08% to 1. Please see additional disclosures. industry or sector trends. 2 – Source MFI explorer. 3 – Internal calculation done on the basis of NAV data sourced from AMFI This information discusses general market activity.Index funds in India  At present. market or political conditions and should not be construed as research or investment advice. of which 221 are based on the CNX Nifty Index  Total recurring expenses2 vary from 0.  No rebalancing issue for the investor due to corporate action or index changes  Full replication strategy 4 .Features of GS BeES  Simple – can be bought/ sold on the NSE like a share… in real-time  Buy/ sell the broad Indian market in one ETF unit  Can be used to equitise cash  Economical – the annual expense ratio for Index funds is low compared to traditional open-ended equity or debt fund. Mechanism Behind the scene Exactly like a stock Primary market Secondary market Seller Cash Authorized participants / financial institutions GS BeES* Buy / sell Market making / arbitrage Subscription/ redemption in-kind Stock Exchange Cash Fund GS BeES* Buyer * GS BeES = Goldman Sachs Exchange Traded Schemes 5 . GS BeES Vs Open Ended Index Funds Parameters Index ETFs Traditional open-ended index funds Yes No Usually lower than traditional open-ended funds Usually higher than ETFs Yes No Tracks index more closely relative to a traditional open-ended fund Tracking errors are usually higher as compared to ETFs Real time pricing as compared to a traditional open-ended fund Daily end of day Yes No Liquidity Fund and stock market Fund Structure Insulates long term investor from short term trading activity Does not insulate long term investor from short term trading activity Traded throughout the day Low expense ratio Trade at any brokerage firm Tracking NAV Can be used for derivatives margin 6 . ETF – Exchange Traded Fund 7 . of ETFs 94 208 283 288 334 440 719 .Growth of ETFs Internationally Growth of International ETFs 3000 4500 4000 3500 2000 3000 2500 1500 2000 1000 1500 1000 500 500 0 • 2000 2001 2002 2003 2004 2005 2006 AUM* 74 105 142 212 310 416 579 No. Source: ETFGI Monthly Newsletter March 2015.AUM in USD Billion. of ETFs AUM $ Billion 2500 . 2007 2008 2009 2010 2011 2012 2013 2014 Mar -15 806 716 1041 1313 1355 1754 2254 2643 2781 1132 1614 1961 2473 3022 3334 3591 3964 4049 0 No. AUM (Rs.15000 50 12000 40 9000 30 6000 20 3000 10 0 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec10* Dec11* Dec12* Dec 13* Dec 14* Mar 15* Avg.e. AUM 7 168 568 2920 7811 7142 2671 2410 4981 10852 13380 10959 12677 14371 No of ETFs 1 5 6 6 6 12 16 18 26 33 34 39 45 48 Source : Based on data collated from AMFI website i. www.amfiindia. of ETFs Avg.com * . (For other periods amount is Average AUM for Month) 0 No. in Crores) Growth of ETFs in India .Average AUM for the Quarter. Domestic Equity ETFs 10 . CNX Nifty Index  India’s premier benchmark index introduced in November 1995 and was developed as a basis for introducing index based derivatives  CNX Nifty is calculated using the free float market capitalization weighted method1  Only companies having a high degree of liquidity defined in terms of low impact cost are included as constituents of the index  Impact cost of the CNX Nifty for March 2015 is 0.06% for a portfolio size of Rs. 50 Lakhs1  Represents about 57.34%2 of the total market capitalization of NSE as on 31st March 2015 1 - For criteria of CNX Nifty Index and Impact cost, kindly refer the indices section of NSE website i.e. www.nseindia.com 2 - Source: www.nseindia.com / India Index Services & Products Ltd. (IISL)/ Internal 11 Goldman Sachs Nifty Exchange Traded Scheme (GS Nifty BeES)  Investment objective The investment objective of GS Nifty BeES is to provide investment returns that, before expenses, closely correspond to the total returns of the securities as represented by the CNX Nifty Index. However, the performance of scheme may differ from that of the underlying index due to tracking error.  Investment pattern Instruments Indicative allocation % Securities covered by CNX Nifty Index Up to 100% Money market instruments, convertible bonds & other securities including cash at call but excluding subscription & redemption cash flow Up to 10% The above stated percentages are indicative and not absolute. There is no guarantee that these objectives will be met. 12 Goldman Sachs Nifty Exchange Traded Scheme (GS Nifty BeES)  Type of scheme Open ended index scheme, listed on the exchange in the form of an Exchange Traded Fund (ETF)  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation. investment in securities covered by CNX Nifty Index. high risk. (BROWN) Note: Risk may be represented as: (BLUE) investors understand that their principal will be at low risk (YELLOW) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 13 000 units and in multiples thereof  Minimum lot-size to buy/ sell on NSE is 1 unit and in multiples thereof  Options: the scheme offers only growth option  Units of the scheme will be issued/ repurchased and traded compulsorily in Demat form 14 .GS Nifty BeES  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of the NSE  Tracks the CNX Nifty Index and priced at 1/10th of the CNX Nifty Index  Minimum lot-size for real-time in-kind creation/ redemption with the Fund is 10. 42 Tata Motors Ltd Auto 3.GS Nifty BeES . Portfolio holdings may not be representative of future investments. Industry allocation as per AMFI classification 15 .22 Total 53.17 Larsen & Toubro Ltd Construction Project 4.35 Axis Bank Ltd Banks 3.61 Tata Consultancy Services Ltd Software 4.top 10 holdings Company Industry Weightage (%) Infosys Ltd Software 7. Future portfolio holdings may not be profitable.19 ITC Ltd Consumer Non Durables 6.76 Reliance Industries Ltd Petroleum Products 4.50 Housing Development Finance Corporation Ltd Finance 7. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings.01 HDFC Bank Ltd Banks 6.98 Data as on 31st March 2015 Portfolio holdings may change by the time you receive this.73 ICICI Bank Ltd Banks 6. 72 2.63 0.76 1.97 16.51 Banks Software Consumer Non Durables Auto Finance Pharmaceuticals Petroleum Products Construction Project Cement Power Telecom .42 7.32 6.270.76 8.Services Oil Minerals/Mining Non .94 5.27 1.85 9. Industry allocation as per AMFI classification. Future portfolio holdings may not be profitable 16 .58 4.54 2.61 23.72 0.Ferrous Metals Industrial Capital Goods Ferrous Metals Media & Entertainment Gas Data as 31st March 2015 Total allocation may not add to 100% due to rounding. Portfolio holdings may change by the time you receive this Portfolio holdings may not be representative of future investments.GS Nifty BeES – industry allocation Industry Weightage (%) 2.94 0.93 2. 1  Tracking Error : 0.Financial year to date expense ratio to average AUM.Tracking error calculated based on monthly rolling returns for last 12 months.a.49% p.nseindia.11% Annualised2  Impact Cost : 0.GS Nifty BeES – scheme details  NSE Symbol : NIFTYBEES  BSE Code : 590103  ISIN : INF732E01011  Reuters : NBES.NS  Bloomberg : NBEES. 3 .IN  Total Expense Ratio : 0.Impact cost calculated for period of 6 months ending on 15th March 2015.083  Entry/ Exit Load : Nil Data as on 31st March 2015 1 . www.com 17 . For maximum chargeable expense ratio. please refer to the SID. Source: NSE Market Tracker. 2. In case. Returns for more than one year are compounded annualized.68 10868 18.21 82134 CNX Nifty Total Returns Index 28. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.17 12817 19. 2015 Mar 31.62 96333 CNX Nifty Index (Benchmark)@ 26.31 10731 17.000 made at the beginning of 12 month period as at the end of that period scheme performance.72 10872 18. Inception date is the allotment date which is December 28. Point to Point (PTP) returns in INR is based on standard investment of INR 10.32 11932 8. 2014 Mar 31.98 11798 7.47 11947 8. @ Also represents Additional Benchmark Fund manager: Payal Kaipunjal For the performance of other schemes managed by the same fund manager please refer to slide 90 Data as on 31st March 2015 18 . Bonus declared has been adjusted.performance Particulars Mar 31. 2013 Since Inception Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Nifty BeES 27. the start/end date of the concerned period is non business date (NBD). 2012 to Mar 31. 2001.97 12797 19. 2014 to Mar 31.GS Nifty BeES . Distribution taxes are excluded while calculating the returns.65 12665 17.94 99763 Returns for one year and less than one year are absolute. 2013 to Mar 31. Dividends are assumed to be reinvested at the prevailing NAV. the NAV of the previous date is considered for computation of returns. (IISL)/ Internal 19 .Source: www. kindly refer the indices section of NSE website i.08%2 of the total market capitalization of NSE as on 31st March 2015 1 . www.CNX Nifty Junior Index  The next rung of liquid securities after CNX Nifty is the CNX Nifty Junior  CNX Nifty and the CNX Nifty Junior make up the 100 most liquid stocks in India  Only companies having a high degree of liquidity defined in terms Impact Cost are included as Constituents of the Index1  CNX Nifty Junior is calculated using the free float market capitalization weighted method1  Impact cost of the CNX Nifty Junior Index for March 2015 is 0.For criteria of CNX Nifty Junior Index and Impact cost. 25 Lakhs1  Represents about 14.e.com / India Index Services & Products Ltd.08% for a portfolio size of Rs.nseindia.com 2 .nseindia. 20 .100% 0% . before expenses. convertible bonds & other securities including cash at call but excluding subscription & redemption cash flow Indicative allocation % 90% .Goldman Sachs Nifty Junior Exchange Traded Scheme (GS Junior BeES)  Investment objective The investment objective of GS Junior BeES is to provide returns that.  Investment pattern Instruments Securities covered by CNX Nifty Junior Index Money market instruments. closely correspond to the returns of securities as represented by CNX Nifty Junior Index. the performance of scheme may differ from that of underlying index due to tracking error. However.10% The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. listed on the exchange in the form of an Exchange Traded Fund (ETF)  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation. investment in securities covered by CNX Nifty Junior Index. 21 . (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.Goldman Sachs Nifty Junior Exchange Traded Scheme (GS Junior BeES)  Type of scheme Open ended index scheme. high risk. 000 units and in multiples thereof  Minimum lot-size to buy/ sell on NSE is 1 unit and in multiples thereof  Options: the scheme offers only growth option  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form 22 .GS Junior BeES  Tracks the CNX Nifty Junior Index and priced at 1/100th of the CNX Nifty Junior Index  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of NSE  Minimum lot-size for real-time in-kind creation/ redemption with the fund is 16. 49 United Spirits Ltd Consumer Non Durables 3.00 Adani Ports & Special Economic Zone Ltd Transportation 2.95 Total 32.29 Data as on 31st March 2015 Portfolio holdings may change by the time you receive this.04 Adani Enterprises Ltd Trading 3. Industry allocation as per AMFI classification 23 .05 Titan Company Ltd Consumer Durables 3.Equipment & Accessories 3.GS Junior BeES . Portfolio holdings may not be representative of future investments.top 10 holdings Company Industry Weightage (%) Bosch Ltd Auto Ancillaries 4.97 Bharat Forge Ltd Industrial Products 2. Future portfolio holdings may not be profitable.46 Bharti Infratel Ltd Telecom .29 Shriram Transport Finance Company Ltd Finance 3. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings.09 Aurobindo Pharma Ltd Pharmaceuticals 3.95 Eicher Motors Ltd Auto 2. 58 4.GS Junior BeES – industry allocation Industry Weightage (%) 2. Portfolio holdings may change by the time you receive this Portfolio holdings may not be representative of future investments.Equipment & Accessories Auto Healthcare Services Chemicals Telecom .00 0.20 1.18 3.83 17. Future portfolio holdings may not be profitable 24 .15 5.15 1.18 8.59 5.68 2.09 8. Industry allocation as per AMFI classification.77 3.31 1.61 Finance Pharmaceuticals Banks Telecom .48 2.04 1.95 3.95 1.87 3.45 1.01 1.73 3.Services Consumer Non Durables Industrial Products Industrial Capital Goods Consumer Durables Pesticides Power Software Gas Auto Ancillaries Transportation Ferrous Metals Trading Petroleum Products Services Oil Data as 31st March 2015 Total allocation may not add to 100% due to rounding.96 14. Impact cost calculated for period of 6 months ending on 15th March 2015.a.10% Annualised2  Impact cost : 0. Source: NSE Market Tracker.com 25 . www.00% p.NS  Bloomberg : JBEES:IN  Total expense ratio : 1.scheme details  NSE symbol : JUNIORBEES  BSE code : 590104  ISIN : INF732E01045  Reuters : JBES. 2 -Tracking error calculated based on monthly rolling returns for last 12 months 3 .273  Entry/ exit load : Nil Data as on 31st March 2015 1. please refer to the SID. For maximum chargeable expense ratio.Financial year to date expense ratio to average AUM.GS Junior BeES .1  Tracking error : 0.nseindia. Additional benchmark for equity scheme .02 12002 7.52 12052 7. 2015 Mar 31.performance Particulars Mar 31. Fund manager: Payal Kaipunjal For the performance of other schemes managed by the same fund manager please refer to slide 90 Data as on 31st March 2015 26 . Inception date is the allotment date which is February 21.98 11798 7. Distribution taxes are excluded while calculating the returns.39 10739 24.34 14434 20. Point to Point (PTP) returns in INR is based on standard investment of INR 10.56 143013 CNX Nifty Junior Index (Benchmark) 44.21 14421 20. 2012 to Mar 31. 2014 to Mar 31. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.62 10862 25. In case. Returns for more than one year are compounded annualized.65 12665 17.62 14562 21.69 79642 Returns for one year and less than one year are absolute. the NAV of the previous date is considered for computation of returns.31 10731 18. 2013 to Mar 31. Dividends are assumed to be reinvested at the prevailing NAV.GS Junior BeES .97 163795 CNX Nifty Index (Additional Benchmark) 26.000 made at the beginning of 12 month period as at the end of that period scheme performance. Bonus declared has been adjusted. the start/end date of the concerned period is non business date (NBD). 2003.26 138899 CNX Nifty Junior Total Returns Index 45.90 12190 8.source : National Stock Exchange of India. 2014 Mar 31.70 10770 24. 2013 Since Inception Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Junior BeES 44. CNX Bank Index  CNX Bank Index1 is a sectoral index comprising of stocks pertaining to the Banking Industry  CNX Bank Index consists of 12 key stocks of the banking sector  CNX Bank Index is calculated using the free float market capitalization weighted method  Represents about 10.63%2 of the total market capitalization of NSE as on 31st March 2015 1 - For criteria of CNX Bank Index kindly refer the indices section of NSE website i.e. www.nseindia.com 2 - Source: www.nseindia.com / India Index Services & Products Ltd. (IISL)/ Internal 27 Goldman Sachs Banking Index Exchange Traded Scheme (GS Bank BeES)  Investment objective The investment objective of GS Bank BeES is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the CNX Bank Index. However, the performance of scheme may differ from that of the underlying index due to tracking error.  Investment pattern Instruments Securities covered by the CNX Bank Index Money market instruments, G-Secs, bonds, debentures, preference shares and cash at call Indicative allocation % 90% - 100% 0% - 10% The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. 28 Goldman Sachs Banking Index Exchange Traded Scheme (GS Bank BeES)  Type of scheme Open ended index scheme, listed on the exchange in the form of an Exchange Traded Fund (ETF)  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation. investment in securities covered by CNX Bank Index. high risk. (BROWN) *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 29  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form 30 .GS Bank BeES  Tracks the CNX Bank Index  Each unit is priced at 1/10th of the CNX Bank Index  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of NSE  Minimum lot-size for real-time in-kind creation/ redemption with the fund is 10.000 units and in multiple of thereof  Minimum lot-size to buy/ sell on NSE is 1 unit and in multiples thereof  Options: The scheme offers only growth option. 07 State Bank of India Banks 11. Industry allocation as per AMFI classification 31 .11 The Federal Bank Ltd Banks 1.76 IndusInd Bank Ltd Banks 5. The securities discussed do not represent all of the portfolio's holdings and may represent only a small percentage of the strategy’s portfolio holdings.65 Bank of Baroda Banks 2.26 Yes Bank Ltd Banks 3.13 Axis Bank Ltd Banks 13.top 10 holdings Company Industry Weightage (%) HDFC Bank Ltd Banks 27.34 Kotak Mahindra Bank Ltd Banks 7. Holdings and/ or Allocations are subject to change and should not be construed as research or investment advice. Future portfolio holdings may not be profitable.48 Total 98.GS Bank BeES .30 ICICI Bank Ltd Banks 25.56 Punjab National Bank Banks 1.66 Data as on 31st March 2015 Portfolio holdings may not be representative of current or future investments. 18% Annualised2  Impact cost : 0.com 32 .NS  Bloomberg :BBEES:IN  Total expense ratio : 0.Financial Year to date Expense Ratio to average AUM.a. 3 . www.233  Entry/ exit load : Nil Data as on 31st March 2015 1 .scheme details  NSE symbol : BANKBEES  BSE code : 590106  ISIN : INF732E01078  Reuters : BBES.nseindia. please refer to the SID.GS Bank BeES . Source: NSE Market Tracker. 2. For maximum chargeable expense ratio.48% p.Tracking Error calculated based on monthly Rolling Returns for last 12 months.1  Tracking error : 0.Impact cost calculated for period of 6 months ending on 15th March 2015. 65 12665 17.89 14289 12. the start/end date of the concerned period is non business date (NBD). Dividends are assumed to be reinvested at the prevailing NAV. Distribution taxes are excluded while calculating the returns. 2004. Point to Point (PTP) returns in INR is based on standard investment of INR 10.53 11353 12.21 80603 CNX Bank Index (Benchmark) 42.65 11365 12.98 14398 13.000 made at the beginning of 12 month period as at the end of that period scheme performance.15 11215 11.31 10731 16. 2013 Since Inception Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Bank BeES 43. Fund manager: Payal Kaipunjal For the performance of other schemes managed by the same fund manager please refer to slide 90 Data as on 31st March 2015 33 . 2014 Mar 31.72 53524 Returns for one year are absolute. 2015 Mar 31. 2014 to Mar 31. Additional benchmark for equity scheme .66 83914 CNX Nifty Index (Additional Benchmark) 26. the NAV of the previous date is considered for computation of returns. 2012 to Mar 31. Inception date is the allotment date which is May 27.GS Bank BeES .98 11798 7. 2013 to Mar 31. In case.50 14350 13.performance Particulars Mar 31.59 11259 21.source : National Stock Exchange of India. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Returns for more than one year are compounded annualized.95 71975 CNX Bank Total Returns Index 43.90 11290 21.25 11125 19. com 2 .CNX PSU Bank Index  CNX PSU Bank Index1 is a sectoral index comprising of stocks pertaining to the PSU Bank Sector  CNX PSU Bank Index consists of 12 key PSU Banking Stocks  CNX PSU Bank Index is a free float market capitalization weighted method  CNX PSU Bank Index Constituents represent about 3.nseindia.Source: www.e. www. (IISL)/ Internal 34 .com / India Index Services & Products Ltd.For criteria of CNX PSU Bank Index kindly refer the indices section of NSE website i.nseindia.42%2 of the total market capitalization of NSE as on 31st March 2015 1 . Goldman Sachs PSU Bank Exchange Traded Scheme (GS PSU Bank BeES)  Investment objective The investment objective of GS PSU Bank BeES is to provide returns that.10% The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. However. debentures and cash at call Indicative allocation % 90% . 35 . before expenses.  Investment pattern Instruments Securities covered by the CNX PSU Bank Index Money market instruments. the performance of scheme may differ from that of the underlying index due to tracking error.100% 0% . G-Secs. bonds. closely correspond to the total returns of the securities as represented by the CNX PSU Bank Index. investment in securities covered by CNX PSU Bank Index.Goldman Sachs PSU Bank Exchange Traded Scheme (GS PSU Bank BeES)  Type of scheme Open ended index scheme. high risk. listed on the exchange in the form of an Exchange Traded Fund (ETF)  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation. (BROWN) 36 . 000 units and in multiple of thereof  Minimum lot-size to buy/ sell on NSE is 1 unit and in multiples thereof  Options: The scheme offers only growth option  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form 37 .GS PSU Bank BeES  Tracks the CNX PSU Bank Index  Each unit is priced at 1/10th of the CNX PSU Bank Index  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of NSE  Minimum lot-size for real-time in-kind creation/ redemption with the fund is 10. 39 Punjab National Bank Banks 7. Industry allocation as per AMFI classification 38 .11 Union Bank of India Banks 2.GS PSU Bank BeES .92 IDBI Bank Ltd Banks 1.53 Total 97.20 Bank of Baroda Banks 11.97 Canara Bank Banks 3.86 Allahabad Bank Banks 1. Portfolio holdings may not be representative of future investments. Future portfolio holdings may not be profitable.98 Oriental Bank of Commerce Banks 1.51 Data as on 31st March 2015 Portfolio holdings may change by the time you receive this. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings.top 10 holdings Company Industry Weightage (%) State Bank of India Banks 61.66 Syndicate Bank Banks 1.90 Bank of India Banks 3. NS  Bloomberg : PSUBBE:IN EQUITY  Total expense ratio : 0. www.Impact cost calculated for period of 6 months ending on 15th March 2015.a.10% Annualised2  Impact cost : 0.49% p.1  Tracking error : 0.Tracking error calculated based on monthly rolling returns for last 12 months. please refer to the SID.Financial year to date expense ratio to average AUM. For maximum chargeable expense ratio.com 39 .nseindia. 3.903  Entry/ exit load : Nil Data as on 31st March 2015 1 .scheme details  NSE symbol : PSUBNKBEES  BSE code : 590108  ISIN : INF732E01110  Reuters : PSUB. Source: NSE Market Tracker.GS PSU Bank BeES . 2. 53 12453 -6. 2013 Since Inception Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS PSU Bank BeES 24. 2013 to Mar 31.11 12511 -6. Returns for more than one year are compounded annualized.82 9318 -8.53 14925 CNX Nifty Index (Additional Benchmark) 26. Fund manager: Payal Kaipunjal For the performance of other schemes managed by the same fund manager please refer to slide 90 Data as on 31st March 2015 40 .04 14418 CNX PSU Bank Index (Benchmark) 24.15 8985 -9.98 11798 7.56 12973 CNX PSU Bank Total Returns Index 25.17 9183 5.65 12665 17. Additional benchmark for equity scheme .53 12453 -10. Inception date is the allotment date which is October 25. Distribution taxes are excluded while calculating the returns. 2014 to Mar 31.GS PSU Bank BeES . 2015 Mar 31. 2007.performance Particulars Mar 31.68 9232 5. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.source : National Stock Exchange of India.31 10731 5.96 9004 3. 2014 Mar 31. In case.000 made at the beginning of 12 month period as at the end of that period scheme performance.84 15247 Returns for one year are absolute. the NAV of the previous date is considered for computation of returns. 2012 to Mar 31.35 9365 -7. Point to Point (PTP) returns in INR is based on standard investment of INR 10. Dividends are assumed to be reinvested at the prevailing NAV. the start/end date of the concerned period is non business date (NBD). com / India Index Services & Products Ltd. (IISL)/ Internal 41 . www.CNX Nifty Shariah Index  Constituents of the CNX Nifty index are screened for Shariah compliance  Companies that are Shariah compliant form the CNX Nifty Shariah Index1  The index is calculated using a base-weighted aggregate methodology  At present the CNX Nifty Shariah Index comprises of 17 constituents2 as on 31st March 2015.  CNX Nifty Shariah Index constituents represent about 19016%3 of the total market capitalization of the NSE as on 31st March 2015 1 .com 2 .Source: www.nseindia.Source: India Index Services & Products Ltd.For criteria of CNX Nifty Shariah Index kindly refer the indices section of NSE website i.nseindia. (IISL) 3 .e. Shariah Index – framework providers  Index constituents of the underlying index are screened for Shariah compliance and then included in the index  India Index Services and Products Limited (IISL) has contracted with Taqwaa Advisory and Shariah Investment Solutions (TASIS) provides the Shariah screens to filter the stocks based on these screens  TASIS is India based Shariah Advisory institution in the field of business and finance  TASIS is in providing Shariah consultancy. monitoring and certification to many of Indian organizations 42 . Shariah screening process  Two main criteria based on which the stocks are screened include:  Business screening  Financial screening 43 . finance and investment companies. such as film and other recreational activities where vulgarity. Narcotic drugs.  Production or distribution of vulgar entertainment. sub-industries are analyzed individually)  Gambling. Alcohol. etc. insurance companies. Tobacco and such other items etc. stock broking etc. 44 .  Production. sale and marketing of non-Halal food and beverages such as Pork. promiscuity is a part and parcel of the business undertaken / promoted  Hotels and restaurants (providing non-Halal products or entertainment)  Advertising and Media (newspapers are allowed.Shariah screening process Business screening  Companies which are primarily into the following activities are screened out on the business parameter :-  Conventional financial services such as banks. Shariah screening process Financial screening  Companies passing the business screening stage are further screened to ensure that their dealings involving interest-based debt or earnings out of / deployment of funds on interest are within the maximum tolerance limits set by Shariah scholars.  TASIS has adopted following financial screening norms: Interest based-debt should be less than or equal to 25% of Total Assets  Interest income plus returns (currently considered @8%) from interest-based investments should be less than or equal to 3% of the total income  Receivables plus cash and bank balances should be less than or equal to 90% of Total Assets 45 . closely correspond to the total returns of the securities as represented by the CNX Nifty Shariah Index by investing in securities which are constituents of the CNX Nifty Shariah Index in the same proportion as the Index.Goldman Sachs CNX Nifty Shariah Index Exchange Traded Scheme (GS Shariah BeES)  Investment objective The investment objective of the GS Shariah BeES is to provide returns that. the performance of the scheme may differ from that of the underlying index due to tracking error.10% The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. However. 46 .100% 0% .  Investment pattern Instruments Securities covered by the CNX Nifty Shariah Index Cash Indicative allocation % 90% . Investors to note that GS Shariah BeES is not a Shariah compliant scheme. before expenses. high risk. listed on the exchange in the form of an Exchange Traded Fund (ETF)  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation. investment in securities covered by CNX Nifty Shariah Index. (BROWN) 47 .Goldman Sachs CNX Nifty Shariah Index Exchange Traded Scheme (GS Shariah BeES)  Type of scheme Open ended index scheme. GS Shariah BeES  Each unit is priced at 1/10th of CNX Nifty Shariah Index  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of the NSE  Minimum lot-size for real-time in kind creation/ redemption with the fund is 10.  Units of the scheme will be issued/repurchased and traded compulsorily in demat form 48 .000 units and in multiple of thereof  Minimum lot-size to buy/ sell on the NSE is 1 unit and in multiples thereof  Options: The scheme offers only growth option. Services 6. Future portfolio holdings may not be profitable.58 Data as on 31st March 2015 Portfolio holdings may change by the time you receive this.79 Asian Paints Ltd Consumer Non Durables 4. Portfolio holdings may not be representative of future investments.55 Tech Mahindra Ltd Software 4.GS Shariah BeES . Industry allocation as per AMFI classification 49 . Reddy's Laboratories Ltd Pharmaceuticals 5. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings.59 Cipla Ltd Pharmaceuticals 4.81 Maruti Suzuki India Ltd Auto 6.75 Bharti Airtel Ltd Telecom .04 Tata Consultancy Services Ltd Software 16.00 Dr.35 Hindustan Unilever Ltd Consumer Non Durables 7.17 Lupin Ltd Pharmaceuticals 6.52 Total 79.top 10 holdings Company Industry Weightage (%) Reliance Industries Ltd Petroleum Products 17. Services Industrial Capital Goods Ferrous Metals Gas Data as 31st March 2015 Total allocation may not add to 100% due to rounding. Future portfolio holdings may not be profitable 50 .81 8. Portfolio holdings may change by the time you receive this Portfolio holdings may not be representative of future investments.38 10.04 12.14 6.26 21.08 Software Petroleum Products Pharmaceuticals Consumer Non Durables Auto Cement Telecom .13 17.66 2. Industry allocation as per AMFI classification.GS Shariah BeES – industry allocation Industry Weightage (%) 2.34 16.64 2. Tracking error calculated based on monthly rolling returns for last 12 months.com 51 . www.nseindia.Impact cost calculated for period of 6 months ending on 15th March 2015. Source: NSE Market Tracker.983  Entry/ exit load : Nil Data as on 31st March 2015 1 . 2 .scheme details  NSE symbol : SHARIABEES  BSE code : 590109  ISIN : INF732E01128  Reuters : SBET. please refer to the SID.a.1  Tracking error : 0.Financial year to date expense ratio to average AUM.08% Annualised2  Impact cost : 4.NS  Bloomberg : SBEES IN Equity  Total expense ratio : 1. For maximum chargeable expense ratio.00% p.GS Shariah BeES . 3 . 54 12154 21. 2013 Since Inception Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Shariah BeES 21.GS Shariah BeES .21 30383 Returns for one year are absolute. 2014 to Mar 31. 2009.19 12119 21. the NAV of the previous date is considered for computation of returns.31 10731 20.31 12131 5. the start/ end date of the concerned period is non business date (NBD). Fund manager: Gauri Sekaria For the performance of other schemes managed by the same fund manager please refer to slide 91 Data as on 31st March 2015 52 .80 12280 6.16 10516 18.performance Particulars Mar 31.88 12288 22.04 10604 18.96 10696 19.000 made at the beginning of 12 month period as at the end of that period scheme performance. Additional benchmark for equity scheme . 2013 to Mar 31. 2014 Mar 31. In case.65 12665 17. Distribution taxes are excluded while calculating the returns. 2012 to Mar 31.30 12130 6. Returns for more than one year are compounded annualized. Point to Point (PTP) returns in INR is based on standard investment of INR 10. 2015 Mar 31.89 28423 CNX Nifty Shariah Index (Benchmark) 21.98 11798 7. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.source : National Stock Exchange of India. Inception date is the allotment date which is March 18.36 27668 CNX Nifty Shariah Total Returns Index 22.93 29970 CNX Nifty Index (Additional Benchmark) 26. shipping and other utility service providers  CNX Infrastructure Index1 is calculated using the free float market capitalization weighted method  Base value and base date of index are 1000 and Jan 01. power. www.For criteria of CNX Infrastructure Index kindly refer the indices section of NSE website i. air.CNX Infrastructure Index  Includes companies belonging to telecom.nseindia. 2004 respectively 1 .com 53 . port. railways.e. roads. the performance of scheme may differ from that of underlying index due to tracking error. G-Secs.Goldman Sachs Infrastructure Exchange Traded Scheme (GS Infra BeES)  Investment objective The investment objective of the GS Infra BeES is to provide returns that.5% The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. closely correspond to the total returns of the securities as represented by the CNX Infrastructure Index by investing in the securities in the same proportion as in the Index. However. 54 .100% 0% . bonds. before expenses.  Investment pattern Instruments Securities covered by the CNX Infrastructure Index Money market instruments. debentures and cash at call Indicative allocation % 95% . high risk.Goldman Sachs Infrastructure Exchange Traded Scheme (GS Infra BeES)  Type of scheme Open ended index scheme. (BROWN) 55 . listed on the exchange in the form of an Exchange Traded Fund (ETF)  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation. investment in securities covered by CNX Infrastructure Index. GS Infra BeES  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of the NSE  Tracks the CNX Infrastructure Index and priced at 1/ 10th of the CNX Infrastructure Index  Minimum lot-size for real-time in-kind creation / redemption with the Fund is 10.000 units and in multiples thereof  Minimum lot-size to buy/ sell on the NSE is 1 unit and in multiples thereof  Options: The scheme offers only growth option  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form 56 . 13 Adani Ports & Special Economic Zone Ltd Transportation 3.97 Tata Power Company Ltd Power 3.Services 5.01 Bharti Airtel Ltd Telecom .55 Power Grid Corporation of India Ltd Power 7.70 Total 86.GS Infra BeES .30 Idea Cellular Ltd Telecom . Portfolio holdings may not be representative of future investments.top 10 holdings Company Industry Weightage (%) Larsen & Toubro Ltd Construction Project 35. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings.Services 13. Future portfolio holdings may not be profitable.55 Bharat Heavy Electricals Ltd Industrial Capital Goods 5.48 Siemens Ltd Industrial Capital Goods 3.19 Data as on 31st March 2015 Portfolio holdings may change by the time you receive this.09 Crompton Greaves Ltd Industrial Capital Goods 1. Industry allocation as per AMFI classification 57 .97 NTPC Ltd Power 7. Future portfolio holdings may not be profitable 58 . Industry allocation as per AMFI classification.09 3.Services Transportation Cement Construction Industrial Capital Goods Data as 31st March 2015 Total allocation may not add to 100% due to rounding.91 0.89 20.97 25.97 37.GS Infra BeES – industry allocation Industry Weightage (%) 0.78 10. Portfolio holdings may change by the time you receive this Portfolio holdings may not be representative of future investments.09 Construction Project Power Telecom . please refer to the SID.10% Annualised2  Impact cost : 1.scheme details  NSE symbol : INFRABEES  ISIN : INF732E01268  Reuters : IFRB.nseindia.Tracking Error calculated based on monthly Rolling Returns for last 12 months.Financial Year to date Expense Ratio to average AUM.1  Tracking error : 0. For maximum chargeable expense ratio.96% p.NS  Bloomberg : IBEES IN Equity  Total expense ratio : 0. Source: NSE Market Tracker. 2 .a.Impact cost calculated for period of 6 months ending on 15th March 2015.GS Infra BeES . www.com 59 .013  Entry / exit Load : Nil Data as on 31st March 2015 1 . 3 . Fund manager: Gauri Sekaria For the performance of other schemes managed by the same fund manager please refer to slide 91 Data as on 31st March 2015 60 . Inception date is the allotment date which is September 29. 2014 Mar 31. Distribution taxes are excluded while calculating the returns.76 8824 -2. Additional benchmark for equity scheme .04 12604 20.27 12427 18. Returns for more than one year are compounded annualized.79 12479 18. the start/ end date of the concerned period is non business date (NBD).05 14172 Benchmark) Returns for one year are absolute.000 made at the beginning of 12 month period as at the end of that period scheme performance. 2013 Since Inception Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Infra BeES 24.performance Particulars Mar 31.98 11798 7. Point to Point (PTP) returns in INR is based on standard investment of INR 10.GS Infra BeES . 2015 Mar 31.source : National Stock Exchange of India. the NAV of the previous date is considered for computation of returns.65 12665 17.79 9218 CNX Nifty Index (Additional 26.93 8807 -2. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. 2013 to Mar 31.90 8910 -1. In case.95 8739 CNX Infrastructure Total Returns Index 26.34 11834 -11.97 11897 -11.31 10731 8. 2014 to Mar 31.16 12016 -10. 2012 to Mar 31.82 8790 CNX Infrastructure Index (Benchmark) 24. 2010. ETF investing in Overseas Securities 61 . As on 31st March 2015.hsi. 1969 and is one of the earliest stock market indices in Hong Kong  The Hang Seng Indexes Company Ltd. 62 .com. For criteria of Hang Seng Index kindly visit http://www.hk 2 .Hang Seng Index  The Hang Seng Index (“HSI”) was launched on Nov 24.48% of the total market capitalization of Hong Kong’s stock exchange2 as on 31st March 2015 1 . compiles and publishes the HSI  The index is widely recognized as the barometer of the Hong Kong Stock market  The HSI measures the performance of the largest and most liquid companies listed in Hong Kong  The HSI adopts free float-adjusted market capitalization weighted methodology with a 15% cap on each constituent weightage  The HSI currently comprises of 50 stocks1 which are representative of the Hong Kong stock market  The index represents about 58.The universe comprises all main board primary listings. debt instruments.100% 0% . 63 . closely correspond to the total returns of securities as represented by Hang Seng Index of Hang Seng Data Services Limited. However.Goldman Sachs Hang Seng Exchange Traded Scheme (GS Hang Seng BeES)  Investment objective The investment objective of the Goldman Sachs Hang Seng Exchange Traded Scheme (GS Hang Seng BeES) is to provide returns that. by investing in the securities in the same proportion as in the index. before expenses. bonds. cash at call and mutual fund schemes/ overseas exchange traded funds based on the Hang Seng Index Indicative allocation % 90% .10% The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. the performance of scheme may differ from that of underlying index due to tracking error.  Investment pattern Instruments Securities constituting Hang Seng Index Money market instruments. G-Secs. investment in securities covered by Hang Seng Index. high risk. listed on the exchange in the form of an ETF investing in overseas Securities  Product labeling    This product is suitable for investors who are seeking*: long-term capital appreciation.Goldman Sachs Hang Seng Exchange Traded Scheme (GS Hang Seng BeES)  Type of scheme Open ended index scheme. (BROWN) 64 . 000 units and in multiples thereof  Minimum lot-size to buy/ sell on the NSE is 1 unit and in multiples thereof  Options: The scheme offers only growth option  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form 65 .GS Hang Seng BeES  Combination of a share and a mutual fund unit  Listed and traded on the capital market segment of the NSE  Tracks Hang Seng Index and each unit is priced at 1/ 100th of the value of the Hang Seng Index on a currency adjusted basis  Minimum lot-size for real-time in-kind creation / redemption with the Fund is 10. 32 AIA Group Ltd Financials 6.GS Hang Seng BeES .99 Financials 4. Future portfolio holdings may not be profitable.71 Bank of China Ltd Total 59. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings. Industry allocation as per AMFI classification 66 .49 Data as on 31st March 2015 Portfolio holdings may change by the time you receive this.95 China Construction Bank Corporation Financials 6.40 Industrial & Commercial Bank of China Ltd Financials 4. Ltd Financials 2.top 10 holdings Company Industry Weightage (%) HSBC Holdings Plc Financials 11.27 Tencent Holdings Ltd Information Technology 9.99 Ping An Insurance (Group) Co.21 China Life Insurance Co.78 China Mobile Ltd Telecommunications 7. of China Ltd Financials 2.87 Hutchison Whampoa Ltd Conglomerates 2. Portfolio holdings may not be representative of future investments. 40 45.75 11.60 7.03 Financials Properties & Construction Information Technology Telecommunications Energy Utilities Conglomerates Consumer Goods Consumer Services Industrials Data as 31st March 2015 Total allocation may not add to 100% due to rounding.46 4. Portfolio holdings may change by the time you receive this Portfolio holdings may not be representative of future investments. Industry allocation as per AMFI classification.66 2.23 3.15 10.GS Hang Seng BeES – industry allocation Industry Weightage (%) 4.85 8.99 0. Future portfolio holdings may not be profitable 67 . GS Hang Seng BeES – industry allocation (cont.) 14 No. Future portfolio holdings may not be profitable. of Companies 12 10 8 6 4 2 0 Data as on 31st March 2015 Industry classification is as per Hang Seng Indexes Company Ltd Portfolio holdings may change by the time you receive this. 6 8 . Portfolio holdings may not be representative of future investments. The securities discussed may not represent all of the portfolio's holdings and may not be deemed representative of the strategy’s future portfolio holdings. For maximum chargeable expense ratio. Source: NSE Market Tracker.a.1  Tracking error : 0.Impact cost calculated for period of 6 months ending on 15th March 2015. 2 .com 69 . please refer to the SID. www.16% Annualised2  Impact cost : 2. 3 .Tracking Error calculated based on monthly Rolling Returns for last 12 months.scheme details  NSE symbol : HNGSNGBEES  BSE code : 590113  ISIN : INF732E01227  Reuters : HNGS.GS Hang Seng BeES .00 % p.Financial Year to date Expense Ratio to average AUM months.633  Entry / exit load : Nil Data as on 31st March 2015 1 .nseindia.NS  Bloomberg : HSBEES IN Equity  Total expense ratio : 1. Distribution taxes are excluded while calculating the returns. the start/ end date of the concerned period is non business date (NBD). 2013 to Mar 31. Mar 31. Past performance does not guarantee future results. the NAV of the previous date is considered for computation of returns.22 11742 Hang Seng Total Returns Index (INR) 21.source : National Stock Exchange of India. In case. Returns for more than one year are compounded annualized.44 12044 12.98 11798 7.48 10848 3.41 11241 -0.93 11993 13.67 9933 8.63 19094 CNX Nifty Index (Additional Benchmark) 26. Since Inception 2015 2014 2013 Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Hang Seng BeES 20. Additional benchmark for equity scheme .58 11358 19.GS Hang Seng BeES . 2010.000 made at the beginning of 12 month period as at the end of that period scheme performance. 2014 to Mar 31.95 12195 13. Inception date is the allotment date which is March 09. 2012 to Mar 31.57 18211 Hang Seng Index (Benchmark) 12.37 11237 18.performance Particulars Mar 31.59 11859 12. Point to Point (PTP) returns in INR is based on standard investment of INR 10. which may vary. Fund managers: Payal Kaipunjal (For debt securities) and Gauri Sekaria (For foreign securities) For the performance of other schemes managed by the same fund manager please refer to slide 90 and 91. Data as on 31st March 2015 70 .31 10731 10.59 16644 Returns for one year are absolute. Mar 31. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.65 12665 17. Indices – facts Index Full Market Cap.) P/E P/B Dividend Yield (%) CNX Nifty Index 5.10 1.489 19.85 0.65 1. (Rs Crs.808 P/E Dividend Yield (%) 10.94 1. Crs.61 3.com Index Hang Seng Index Full Market Cap.238 22.28 1.70 3.59 Source: Hang Seng Indexes Company Limited P/E – Price to Earning ratio P/B – Price to Book ratio Data as on 31st March 2015 71 .125 22. (Rs.81 2.055.09 CNX PSU Bank Index Source: www.398.01 2.06 1.72 2.07 1.395.54 3.02 CNX Infrastructure Index 930.09 CNX Bank Index 1.nseindia.302 11.) 12.902.28 CNX Nifty Junior 1.694.331 20.498 19.98 339.71 CNX Nifty Shariah Index 1. Gold ETF 72 . bonds including cash at call Indicative allocation % 90% to 100% 0% to 10% 1. securitized debts2.Gold related instruments that may be permitted by SEBI from time to time 2. before expenses.Goldman Sachs Gold Exchange Traded Scheme (GS Gold BeES)  Investment objective The investment objective of GS Gold BeES is to provide returns that. 73 .  Investment pattern Instruments Physical Gold and Gold Related Instruments1 Money market instruments.Investments in securitized debts can be made by the scheme up to 5% of the net assets. The above stated percentages are indicative and not absolute There is no guarantee that these objectives will be met. closely correspond to the returns provided by the domestic price of gold through physical gold. Goldman Sachs Gold Exchange Traded Scheme (GS Gold BeES)  Type of scheme An open ended scheme. investment in Physical Gold. listed on the exchange in the form of an ETF investing in physical gold  Product labeling    This product is suitable for investors who are seeking*: portfolio diversification through asset allocation. high risk. (BROWN) 74 . GS Gold BeES  One unit represents approximately one gram of gold  Listed and traded on the capital market segment of NSE  Quotes on the NSE would vary. exchange rate fluctuations. etc  No securities transaction tax 75 . supply. taking into consideration various aspects such as international market movements. demand. GS Gold BeES  Minimum lot-size for real-time in kind creation/ redemption with the fund is 1000 units and in multiples thereof  Minimum lot-size to buy/ sell on NSE is one unit and in multiples thereof  Options: The scheme offers only growth option  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form  Benchmark for the scheme: Domestic price of gold 76 . a.NS  Bloomberg : GBEES IN EQUITY  Total expense ratio : 0.Financial Year to date Expense Ratio to average AUM.scheme details  NSE symbol : GOLDBEES  BSE code : 590095  ISIN : INF732E01102  Reuters : GBES. please refer to the SID.GS Gold BeES .Tracking Error calculated based on monthly Rolling Returns for last 12 months. 3 .92% p. Source: NSE Market Tracker. 77 . www.Impact cost calculated for period of 6 months ending on 15th March 2015. 2 .053  Entry / exit load : Nil Data as on 31st March 2015 1 .06% annualised2  Impact cost : 0.nseindia. For maximum chargeable expense ratio.1  Tracking error : 0.com. the start/end date of the concerned period is non business date (NBD). 2013 to Mar 31.56 9444 -6.performance Particulars Mar 31. Mar 31. 2007. Mar 31.82 10382 12. In case.GS Gold BeES .43 25734 Domestic Price of Gold (Benchmark) -5. Distribution taxes are excluded while calculating the returns.57 27910 Returns for one year are absolute.94 9206 3. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Since Inception 2015 2014 2013 Absolute PTP Returns Absolute PTP Returns Absolute PTP Returns CAGR PTP Returns Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) Returns (%) (INR) GS Gold BeES -6.89 10489 13.000 made at the beginning of 12 month period as at the end of that period scheme performance. 2014 to Mar 31. Point to Point (PTP) returns in INR is based on standard investment of INR 10. Inception date is the allotment date which is March 08. the NAV of the previous date is considered for computation of returns.89 9311 4. 2012 to Mar 31. Returns for more than one year are compounded annualized. Fund manager: Payal Kaipunjal For the performance of other schemes managed by the same fund manager please refer to slide 90 Data as on 31st March 2015 78 .37 9363 -7. Money Market ETF 79 . call money.Goldman Sachs Liquid Exchange Traded Scheme (GS Liquid BeES)  Investment objective The investment objective of the GS Liquid BeES is to seek to provide current income. commensurate with relatively low risk while providing a high level of liquidity. CBLOs. primarily through a portfolio of treasury bills. government securities. repos and reverse repos Other money market instruments Indicative allocation (% of Net Assets) Maximum Minimum Up to 100% 65% Up to 35% 0% There is no guarantee that these objectives will be met. repos and reverse repos and other money market Instruments.  Investment pattern Instruments Treasury bills and government securities Call money. collateralised lending and borrowing obligation (CBLO)/ similar instruments. 80 . low risk. investment in Money Market and Debt Instruments. listed on the exchange in the form of an ETF.Goldman Sachs Liquid Exchange Traded Scheme (GS Liquid BeES)  Type of scheme An open ended liquid scheme. with daily Dividend and compulsory reinvestment of Dividend  Product labeling    This product is suitable for investors who are seeking*: current income with high degree of liquidity. (BLUE) 81 . 1000  The returns accrue to the investors in the form of a daily dividend. which is compulsorily reinvested into the scheme  The units arising out of a dividend reinvestment are credited to the beneficiary (demat) account of the investor at least once in 30 days  Units of GS Liquid BeES are uploaded up to 3 decimal points 82 .What is GS Liquid BeES?  Mainly suited for capital market investors who wish to park idle cash in most convenient way  The face value of each unit of GS Liquid BeES is Rs.1000 and the fund endeavors to keep the daily NAV at Rs. and then waiting for the cheque to clear before they can invest in a liquid fund 83 . he can instruct the broker to purchase GS Liquid BeES of equal amount  This will ensure that from the date of settlement (T+2) the investor will start earning dividends  Investors do not have to go through the inconvenience of receiving and depositing a cheque into their bank account.GS Liquid BeES – an efficient investment tool  GS Liquid BeES is an extremely efficient and convenient solution for utilizing the cash balance between trades in the equity market (NSE)  When an investor sells his shares on NSE. money is transferred between a trader and a broker via a cheque or electronic mode. which involves processing through a bank.)  GS Liquid BeES is designed to negate the need for involving a bank in the transaction process. Normally.  The only thing an investor needs to do is to instruct a broker to sell shares and buy equivalent amount of the GS Liquid BeES fund  The only effort required is send a security transfer instruction to the Depository Participant (DP) relating to GS Liquid BeES (Investor can avoid this if he is using speed-e facility or has given power of attorney to Broker / DP) 84 . once a sale order is executed. thus simplifying the process. In the case of GS Liquid BeES.GS Liquid BeES – an efficient investment tool (contd. the broker buys the equivalent amount of GS Liquid BeES and ‘parks’ the money rather than sending a cheque/ electronic transfer to the client. 1000.01 on the NSE  No Securities Transaction Tax (STT)  Can be used as cash equivalent margin for derivatives segment with a 10% hair cut  Minimum creation size (directly with the Fund) of 2500 units and in multiple of 1 unit thereafter  Minimum lot-size to buy/ sell on the NSE is 1 unit and in multiples thereof  Custodian charges have been waived by NSDL & CDSL  Units of the scheme will be issued/ repurchased and traded compulsorily in demat form  Investors can subscribe/ redeem through the mutual fund trading platform viz. BSE StAR MF of BSE and the Mutual Fund Service System (MFSS) of the NSE. For redemption. the minimum is of 0. 999. the minimum amount of Re.GS Liquid BeES  Listed and traded on the capital market segment of the NSE  Constant quotes for any size at Rs.99 to Rs. For subscriptions.1 and in multiples thereof.001 units and in multiples thereof  Benchmark for the scheme: CRISIL Liquid Fund Index 85 . 86 . For maximum chargeable expense ratio.012  Entry / exit load : Nil Data as on 31st March 2015 1 . 2. Source: NSE Market Tracker.Impact cost calculated for period of 6 months ending on 15th March 2015.1  Impact cost : 0.NS  Bloomberg : LBEES IN  Total expense ratio : 0. please refer to the SID.com.Financial Year to date Expense Ratio to average AUM.a.56% p.GS Liquid BeES – scheme details  NSE symbol : LIQUIDBEES  BSE code : 590096  ISIN : INF732E01037  Reuters : LBES. www.nseindia. 43 10743 7.performance Particulars 7 Days 15 Days 1 Month Simple PTP Simple PTP Simple Annualis Returns Annuali Returns Annualise ed (%) (INR) sed (%) (INR) d (%) PTP Returns (INR) Mar 31.84 10584 8. 2014 31. Returns for less than one year are simple annualized. Dividends are assumed to be reinvested at the prevailing NAV.70 19176 # Returns are based on Gross Dividend per unit declared by the Fund for the respective period of the performance shown above.27 10727 6. Actual dividend in the hands of each investor will vary based on category and rate of dividend distribution tax applicable thereon.54 10954 8.GS Liquid BeES . 2013 to Mar Mar 31.23 10723 4.22 11422 10. 2003. Distribution taxes are excluded while calculating the returns. Fund manager: Siddharth Deb For the performance of other schemes managed by the same fund manager please refer to slide 92 Data as on 31st March 2015 87 .84 10984 9.78 21592 CRISIL 1 Year T-Bill Index (Additional Benchmark) 18. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.02 11802 14. Inception date is the allotment date which is July 08.22 10922 8.65 10765 7. 2012 to Mar 31.33 10833 5.74 10874 5.000 made at the beginning of above mentioned period as at the end of that period scheme performance. 2015 31. Returns for more than one year are compounded annualized.85 11085 8.17 10817 6. Point to Point (PTP) returns in INR is based on standard investment of INR 10. the start/end date of the concerned period is non business date (NBD). Returns for one year are absolute. In case.97 10697 6.98 10898 9. the NAV of the previous date is considered for computation of returns. 2014 to Mar Mar 31.39 11239 9.85 17440 CRISIL Liquid Fund Index (Benchmark) 12. Additional benchmark for Liquid scheme – source : Crisil.85 10685 7. 2013 Absolute PTP Returns Returns (%) (INR) Absolute PTP Absolute PTP Returns Returns Returns Returns (%) (INR) (%) (INR) Since Inception CAGR PTP Returns Returns (%) (INR) GS Liquid BeES# 7. nseindia. it is closer to the true cost of execution faced by a trader in comparison to the bid-ask spread.com 8 1 . at any given point of time.definition Impact cost represents the cost of executing a transaction in a given stock. It should however be emphasised that : (a) impact cost is separately computed for buy and sell (b) impact cost may vary for different transaction sizes (c) impact cost is dynamic and depends on the outstanding orders (d) where a stock is not sufficiently liquid. a penal impact cost is applied In mathematical terms it is the percentage mark up observed while buying/ selling the desired quantity of a stock with reference to its ideal price (best buy + best sell)/ 2. for a specific predefined order size. Impact cost is a practical and realistic measure of market liquidity.Impact cost . Source: www. 50 = 98.50) x 100 98.Impact cost .33 = 0.com For illustrative purposes only 89 .nseindia.5 = 99.definition Example: Order book snapshot Buy quantity Buy price Sell quantity Sell price 1000 98 1000 99 2000 97 1500 100 1000 96 1000 101 To buy 1500 shares Ideal price = Actual buy price = IMPACT COST (For 1500 shares) = 99 + 98 2 (1000 x 99) + (500 x 100) 1500 (99.33 – 98.84% Source: www. 47 11947 8.84 12.56 5.63 14418 12973 14925 15247 18211 11742 19094 CNX Nifty Index (Additional Benchmark) 26. Dividends are assumed to be reinvested at the prevailing NAV.21 82134 CNX Nifty Total Returns Index 28.89 9311 4.68 -9.65 12665 17.62 10862 25.66 83914 CNX Nifty Index (Additional Benchmark) 26. 2012 to Mar 31.89 10489 13.53 11353 12.94 99763 27-May-04 GS Bank BeES 43.52 12052 7.53 24.58 9365 8985 9318 11798 11237 9933 11358 -7. the NAV of the previous date is considered for computation of returns. @ represents Additional Benchmark.98 11798 7.44 12. 2014 Mar 31.89 14289 12.source : National Stock Exchange of India.11 26.37 9363 -7. for debt securities) 90 .67 13.56 143013 44.32 11932 8.90 11290 21.62 96333 CNX Nifty Index (Benchmark)@ 26.57 3.69 79642 GS PSU Bank BeES CNX PSU Bank Index (Benchmark) CNX PSU Bank Total Returns Index CNX Nifty Index (Additional Benchmark) GS Hang Seng BeES Hang Seng Index (Benchmark) Hang Seng Total Returns Index (INR) 24.72 53524 27-May-04 GS Gold BeES -6.70 10770 24.35 -10.82 17.17 7.96 -8. Additional benchmark for equity schemes . Fund manager: Payal Kaipunjal (Incase of GS Hang Seng BeES.04 3.65 12665 17.68 10868 18.65 11365 12.97 163795 CNX Nifty Index (Additional Benchmark) 26.22 13.Funds managed by Fund Managers Particulars GS Junior BeES CNX Nifty Junior Index (Benchmark) CNX Nifty Junior Total Returns Index Mar 31. 2013 to Mar 31.17 12817 19.95 71975 CNX Bank Total Returns Index 43.21 80603 CNX Bank Index (Benchmark) 42.48 19. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.25 11125 19. Point to Point (PTP) returns in INR is based on standard investment of INR 10.50 14350 13. Bonus declared has been adjusted.31 10731 10. 2014 to Mar 31.93 9232 9004 9183 10731 11859 10848 11993 5. 2013 Since Inception Absolute Returns PTP Returns Absolute Returns PTP Returns Absolute Returns PTP Returns CAGR Returns PTP Returns (%) (INR) (%) (INR) (%) (INR) (%) (INR) 44.59 8.65 12665 17.56 9444 -6.98 14398 13.34 14434 20.53 5.31 10731 16.21 14421 20.000 made at the beginning of 12 month period as at the end of that period scheme performance.41 21.98 11798 7.59 11259 21.98 11798 7.31 10731 17.82 10382 12. 2015 Mar 31.39 10739 24.95 12453 12453 12511 12665 12044 11241 12195 -6.43 25734 Domestic Price of Gold (Benchmark) -5.57 27910 Returns for one year are absolute.37 -0.26 138899 45.62 14562 21.97 12797 19. the start/end date of the concerned period is non business date (NBD). Incase.15 -6.90 12190 8.53 25.65 20. Distribution taxes are excluded while calculating the returns.31 18.02 12002 7.98 11798 7.98 12.31 10731 18.15 11215 11. Returns for more than one year are compounded annualized.59 16644 Allotment Date 21-Feb-03 25-Oct-07 9-Mar-10 28-Dec-01 GS Nifty BeES 27.94 9206 3.65 12665 17.72 10872 18. 58 17. Dividends are assumed to be reinvested at the prevailing NAV.18 17.41 17.30 21. 2012 to Mar 31.89 18.57 3.41 21.59 8.94 26.36 19. 2015 Absolute Returns (%) 32. Distribution taxes are excluded while calculating the returns.65 PTP Returns (INR) 13281 13356 13494 12665 12479 12427 12604 12665 12154 12119 12288 12665 12044 11241 12195 12665 Mar 31.07 5.Funds managed by Fund Managers Particulars GS CNX 500 Fund .40 7.31 22.98 12.81 33.63 10.Distributor Plan .04 26.source : National Stock Exchange of India.65 20.88 26.65 21.67 13.95 -1.98 18. 2014 to Mar 31. Bonus declared has been adjusted. Fund manager: Gauri Sekaria (Incase of GS Hang Seng BeES. 2013 Absolute Returns (%) 5.34 20.79 24.31 PTP Returns (INR) 10507 10513 10640 10731 8824 8807 8910 10731 10604 10516 10696 10731 11859 10848 11993 10731 Since Inception CAGR Returns (%) 18.31 -11.98 PTP Returns (INR) 11741 11772 11918 11798 11897 11834 12016 11798 12130 12131 12280 11798 11237 9933 11358 11798 Mar 31.59 PTP Returns (INR) 29232 28702 30770 27278 8790 8739 9218 14172 28423 27668 29970 30383 18211 11742 19094 16644 Allotment Date 18-Mar-09 29-Sep-10 18-Mar-09 9-Mar-10 Returns for one year are absolute.31 6.000 made at the beginning of 12 month period as at the end of that period scheme performance.78 18.96 7.48 19.65 24.37 -0.82 -2. the NAV of the previous date is considered for computation of returns.16 6. 2013 to Mar 31.95 26.93 -10. 2014 Absolute Returns (%) 17. Point to Point (PTP) returns in INR is based on standard investment of INR 10. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.44 12.93 20.93 7. Returns for more than one year are compounded annualized.04 5.27 26. Additional benchmark for equity schemes .16 17. for foreign securities) 91 .Growth CNX 500 Index (Benchmark) CNX 500 Total Returns Index CNX Nifty Index (Additional Benchmark) GS Infra BeES CNX Infrastructure Index (Benchmark) CNX Infrastructure Total Returns Index CNX Nifty Index (Additional Benchmark) GS Shariah BeES CNX Nifty Shariah Index (Benchmark) CNX Nifty Shariah Total Returns Index CNX Nifty Index (Additional Benchmark) GS Hang Seng BeES Hang Seng Index (Benchmark) Hang Seng Total Returns Index (INR) CNX Nifty Index (Additional Benchmark) Mar 31.98 21.43 19.19 22.05 18.90 7. the start/end date of the concerned period is non business date (NBD).13 6.21 12.79 8.56 34.97 18. Incase.76 17.80 17.72 19.54 21.47 -2.22 13.31 18.76 -11. 2012 to Mar 31.38 10738 8.23 10723 4.17 10817 11. 2013 to Mar 31.85 10685 7. 2003. In case.Growth CRISIL Liquid Fund Index (Benchmark) CRISIL 10 Year Gilt Index (Additional Benchmark) Particulars GS Liquid BeES# CRISIL Liquid Fund Index (Benchmark) CRISIL 1 Year T-Bill Index (Additional Benchmark) Mar 31.01 9899 1 Month Mar 31. Distribution taxes are excluded while calculating the returns.85 11085 8.70 19176 # .25 11125 Mar 31.63 PTP Returns (INR) 13821 14652 13485 Mar 31. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.84 10984 9. Returns for one year are absolute. Point to Point (PTP) returns in INR is based on standard investment of INR 10.55 6.74 10874 5. the NAV of the previous date is considered for computation of returns.70 10770 9.Funds managed by Fund Managers Particulars GSSTF . 2013 Allotment Date 4-Aug-10 Since Inception Simple Annualis ed (%) PTP Returns (INR) Simple Annualis ed (%) Absolute Absolute PTP PTP PTP Returns CAGR Returns Returns Returns Returns (INR) Returns (%) (%) (%) (INR) (INR) 7.Returns are based on Gross Dividend per unit (Inclusive of Distribution Tax) declared by the Fund for the respective period of the performance shown above. Returns for less than one year are simple annualized. 2014 Since Inception CAGR Returns (%) 7.02 11802 14.17 10817 6. 2015 Absolute PTP Returns Returns (%) (INR) 7. Fund manager: Siddharth Deb 92 .33 10833 5.65 10765 7.000 made at the beginning of above mentioned period as at the end of that period scheme performance.06 10906 14. 2015 PTP Simple PTP Absolute PTP Returns Annualis Returns Returns Returns (INR) ed (%) (INR) (%) (INR) Mar 31.97 10697 6.78 21592 18.27 10727 6. Additional benchmark for Liquid scheme – source : Crisil. 2013 Absolute PTP Returns Returns (%) (INR) 7.54 10954 8.63 11463 7 Days 15 Days Mar 31.22 11422 10. Dividends are assumed to be reinvested at the prevailing NAV.70 10770 9.20 8. Actual dividend in the hands of each investor will vary based on category and rate of dividend distribution tax applicable thereon. 2014 to Mar 31. 2014 to Mar 31. 2012 to Mar 31. Inception date is the allotment date which is July 08. the start/end date of the concerned period is non business date (NBD).39 11239 9. 2013 to Mar 31. Returns for more than one year are compounded annualized.43 10743 7.98 10898 9.Distributor Plan .84 10584 8. 2014 Absolute PTP Returns Returns (%) (INR) 7.22 10922 8.46 10946 -1.85 17440 12. Ltd. 93 .About Goldman Sachs Asset Management (India) Pvt. industries and cultures helps us provide a wide range of investment opportunities with rigorous risk management practices. We pride ourselves on having pioneered many practices and techniques that have since become standard in the industry. Average Assets under Management of Goldman Sachs Mutual Fund for the quarter ended December 2013 is approximately Rs. Our culture emphasises the value of teamwork while encouraging individual creativity and our professionals have a clear and unwavering commitment to leadership in asset management.94 crores1 1 – Source: AMFI 94 . 384673. Our in-depth understanding of local economies.About us Goldman Sachs Asset Management has a history of providing investment solutions to diverse set of investors. 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We have relied upon and assumed without independent verification. • For schemes specific risk factors. THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO. Confidentiality No part of this material may.gsam. For more details please refer the SID. The investors are advised to refer to the Scheme Information Document for the full text of the Disclaimer Clause of NSE Information gathered & material used in this document is believed to be from reliable sources. • Please read the Scheme Information Documents (SID) and Statement of Additional Information (SAI) carefully before investing. 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This material is issued in or from India by Goldman Sachs Asset Management (India) Private Limited (GSAM India) References to indices.Appendix Views and opinions expressed are for informational purposes only and do not constitute a recommendation by GSAM to buy. 99 . as applicable. The website links provided are for your convenience only and are not an endorsement or recommendation by GSAM of any of these websites or the products or services offered. 160382. All rights reserved. The exclusion of “failed” or closed hedge funds may mean that each index overstates the performance of hedge funds generally. The value of investments and the income derived from investments will fluctuate and can go down as well as up. GSAM is not responsible for the accuracy and validity of the content of these websites. Views and opinions are current as of the date of this presentation and may be subject to change. they should not be construed as investment advice. portfolio characteristics may deviate from those of the benchmark. or hold any security. The views and opinions expressed may differ from those of Goldman Sachs Global Investment Research or other departments or divisions of Goldman Sachs and its affiliates. but do not reflect the deduction of any fees or expenses which would reduce returns. easily recognized by investors. benchmarks or other measures of relative market performance over a specified period of time are provided for your information only and do not imply that the portfolio will achieve similar results. While an adviser seeks to design a portfolio which reflects appropriate risk and return features. This information may not be current and GSAM has no obligation to provide any updates or changes. The figures for the index reflect the reinvestment of all income or dividends. and reflect those indices that the Investment Manager believes. A loss of principal may occur. Past performance does not guarantee future results. The indices referenced herein have been selected because they are well known. This material has been prepared by GSAM and is not a product of Goldman Sachs Global Investment Research.MED. Index Benchmarks Indices are unmanaged. The index composition may not reflect the manner in which a portfolio is constructed. Investors cannot invest directly in indices.OSF. provide a suitable benchmark against which to evaluate the investment or broader market described herein. No representation regarding the suitability of these instruments and strategies for a particular investor is made. sell. Derivatives often involve a high degree of financial risk because a relatively small movement in the price of the underlying security or benchmark may result in a disproportionately large movement in the price of the derivative and are not suitable for all investors. The strategy may include the use of derivatives. Investors are urged to consult with their financial advisors before buying or selling any securities.