• Equity Investments :
  
  The investment approach would be based on the concept of economic earning power and cash return on investments.
  
  Five basic principles serve as the foundation for this investment approach. They are as follows :
  • Focus on the long term
  • View our investments as conferring a proportionate ownership of the business.
  • Maintain a margin of safety (i.e. the price of purchase represents a discount to the intrinsic value of that business).
  • Maintain a balanced outlook on the market by regularly monitoring economic trends and investor sentiment.
  • The decision to sell a holding would be based on one of three reasons :
    • The anticipated price appreciation has been achieved or is no longer probabe.
    • Alternative investments offer superior total return prospects, or
    • A fundamental change has occurred in the company or the market in which it competes.
    
    
  In summary, the assessment of investment value is a function of extensive research and based on data and reasoning, rather than current fashion and emotion. The idea is to develop a model that allow us to identify "businesses with superior growth prospects and good management, at a reasonable price".
  
  In order to implement the investment approach effectively, it would be important to periodically meet the management face to face. This would provide an understanding of thei broad vision and commitment to the long-term business objectives. These meetings would also be useful in assessing key determinants of management quality such as orientation to minority shareholders, ability to cope with adversity and approach to allocating surplus cash flows. Discussions with management would also enable benchmarking actual performance against stated commitments.
  
  
• Debt Investments :
  
  Debt securities (in the form of non-convertible debentures, bonds, secured premium notes, zero interest bonds, deep discount bonds, floating rate bond / notes, securitised debt, pass through certificates, asset backed securities, mortgage backed securities and any other domestic fixed income securities including structured obligations etc.) include, but are not limited to:
  • Debt obligations of / Securities issued by the Government of India, State and local Governments, Government Agencies and statutory bodies (which may or may not carry a state / central government guarantee).
  • Securities that have been guaranteed by Government of India and State Governments.
  • Securities issued by Corporate Entities (Public / Private sector undertakings).
  • Securities issued by Public / Private sector banks and development financial institutions.
  
  
• Money Market Instruments Include
  
  
  • Commercial papers
  • Commercial bills
  • Treasury bills
  • Government securities having an unexpired maturity upto one year
  • Call or notice money
  • Certificate of deposit
  • Usance bills
  • Permitted securities under a repo / reverse repo agreement
  • Any other like instruments as may be permitted by RBI / SEBI from time to time

* Absolute Returns    ** Compounded Annualised Returns 
# CRISIL Balanced Fund Index
^ Past performance may or may not be sustained in the future

Past performance may or may not be sustained in the future

 *  Load is not taken into consideration and the Returns are of Growth Plan / Option. Investors are advised to refer to the Relative Performance table furnished as above for non-SIP returns

# Benchmark - CRISIL Balanced Fund Index

Disclaimer: The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not assure a profit or guarantee protection against a loss in a declining market. Please refer SIP Enrolment Form or contact nearest ISC for SIP Load Structure.