May 2018 - ICICI Direct

1 May 2018 product range ( minimum RecommendedInvestment Period (MRIP)1 dayLiquid3months5 years4 years3 years2 years1 yearArbitrageHybrid FundsDiversified FundsUltraShort DebtShortTerm DebtMediumTerm DebtLarge CapMid &Small CapLongTerm DebtIndexFundsTaxSavings Investor should consult their financial advisors .IndexFrom the Managing Director s DeskMarket OverviewFrom the CMO s DeskSnapshot of Equity FundsEquityLargeCapDiversified CapMidcap & Small CapTaxSavingThematicArbitrageIndex FundSBI Blue Chip FundSBI Magnum Equity FundSBI Magnum Multicap FundSBI Contra FundSBI Magnum Multiplier FundSBI Magnum MidCap FundSBI Magnum Global FundSBI Small & Midcap FundSBI Magnum Taxgain SchemeSBI Pharma FundSBI Banking And Financial Services FundSBI PSU FundSBI Magnum Comma FundSBI Infrastructure FundSBI FMCG FundSBI IT FundSBI Gold FundSBI Arbitrage Opportunities FundSBI Nifty Index FundSBI Emerging Businesses)

2 Fund124589101112141516171819202122232425 262713 IndexSnapshot of Hybrid FundsHow to read the FactsheetHybrid FundTotal Expense RatiosDisclaimerSBI Funds Management Pvt Ltd BranchesSBI Magnum Balanced FundSBI Dynamic Asset Allocation FundSBI Magnum Monthly Income PlanSBI Magnum Monthly Income Plan FloaterSBI Magnum Children's Benefit PlanSBI Equity Savings FundSBI Magnum Gilt Fund Long Term PlanSBI Magnum Income FundSBI Dynamic Bond FundSBI Corporate Bond FundSBI Regular Savings FundSBI Short Term Debt FundSBI Magnum Gilt Fund Short Term PlanSBI Ultra Short Term Debt FundSBI Savings FundSBI Treasury Advantage FundSBI Premier Liquid FundSBI Magnum InstaCash FundSBI Magnum InstaCash Fund Liquid Floater282930313233346335373839404142434 44546474849505557586162 Snapshot of Debt FundsComparative Performance for all SchemesSystematic Investment Plan (SIP)DEBTLong TermShort TermUltrashortLiquidMedium TermDividend History Of Debt & Hybrid FundsFrom the Managing Director s DeskDear Investors,Managing Director & CEOI ndian equity markets bounced back in the month of April 2018 after seeing a fair share ofvolatility for the first three months of calendar year 2018.

3 S&P BSE Sensex and Nifty 50 rose respectively. Market sentiments during the month were supported with signs for growthpickup and good earnings mix. Mutual funds saw net inflows amounting to lakh crore in themonth of April understanding market dynamics is important, it s always said that disciplined investing is animportant factor to achieve one s financial goals. Another important factor that investors need tounderstand is the right asset allocation mix in the portfolio. Asset allocation helps in managingthe risk arising out of market uncertainty as the risk is spread across different asset classes suchas equity, debt, gold, cash etc.

4 Diversification through asset allocation (right mix of investments)helps in reducing the risk associated with 100% exposure to a single asset class. Investors need totake into consideration three factors before determining the right asset allocation mix riskprofile, investment horizon and required Fund schemes come with an underlying benefit of expert management, who manage theasset allocation based on their view on the market trends, robust analysis of macroeconomicfactors and in line with the asset allocation pattern of the scheme. Mutual funds offer assetallocation funds in different categories such as conservative hybrid funds, balanced hybrid fund,aggressive hybrid funds, dynamic asset allocation fund among others to suit the different riskappetite of the varied investors SEBI s move on re-categorisation & rationalisation of schemes, there would be only onescheme per sub-category (in a Mutual Fund House) with clearly defined characteristics, thussimplifying the existing product suite.

5 The benefits of these would percolate down to both mutualfunds and investors. We believe that simple and easy to decipher product offering are likely tokeep investor interest high, thereby increasing product light of the above, we would like to highlight that there are no significant changes in majority ofour schemes and all of our schemes now form a part of one of the sub-categories. Existinginvestors would have received communication highlighting the categories, revised positioningand investment strategy of the schemes as per the new guidelines. Further, the no exit load periodgiven to investors subsequent to the change in fundamental attributes of the schemes ends on15th May 2018.

6 Effective 16th May 2018 all the SBI Mutual Fund schemes will be in alignment withthe new scheme categorization as defined by would like to assure you that, at SBI Mutual Fund, we would provide our investors with all thesupport needed so that you can trust us with your investments and future goals. You may get intouch with your financial adviser or visit our website for information on SBI Mutual Fund you can also invest and track your portfolio with us via our website or SBIMF Regards,Anuradha Rao`Anuradha RaoMD & CEO01 Market OverviewNavneet MunotED & CIOWe have been talking about Geo-politics for some time now. These risks were overlooked bymarkets and were also masked by ample liquidity.

7 Now, with global central banks graduallyclosing their QE tap, cheap money is no more a given. Global leadership is leaning towardsextreme right amidst a palpable rise in populism. The spillover effect of geo-politics oncommodities and financial markets cannot be ruled has hit a four- year high of US$ 74 per barrel. Prices have risen due to strong compliance inOPEC/ non-OPEC supply cut agreement, excess inventory levels being worked off, and continuedstrength in oil demand. In last one year , global inventories have fallen from a 15%-plus surplus tohistorical norms. OPEC s headline compliance continues to be impressive, averaging 163% inMarch and remaining over 100% since cuts were enacted in January 2016.

8 The unintentional nose-dive in Venezuelan production has greatly helped OPEC s efforts. On top of this, rising marketperceptions of political risks appear to have become a factor in the past few months. With thisback-drop, crude prices may remain elevated in the near re-imposition of American sanctions on Iran, due for decision on 12th May, would have adestabilizing effect too. The Trump administration is signaling to undo the Joint ComprehensivePlan of Action (JCPOA) entered between the US, Iran and five other world powers (Britain, China,France, Germany and, Russia). Under this, they had lifted nuclear-related international andAmerican sanctions on Iran in exchange for curbs on Iran s ability to produce or stockpile fissilematerial for nuclear weapons.

9 The re-imposition of sanctions would hit banks and businessestrading with Iran. It could restrain the Iranian crude export. We witnessed extreme volatility inAluminum on the back of US sanctions against Russia and key Russian US is also working towards stripping out many of the perks associated with the North-American Free Trade agreement. A provisional agreement on revamped NAFTA accord is due incoming weeks. The new deal would definitely entail the scars of hard negotiations and may not beas business , there have been missile attacks on Syria, Riyadh, and an attack on a Saudi crude are reports of ill- health of the leader of the Libyan National Army, General Haftar, who isinstrumental in political stability in Libya.

10 There are concerns over trade-renegotiations betweenUS and its trade partners. All these underscore the growing geopolitical tension between themultiple actors commodities prices had fanned concerns on inflation and US 10- year treasury touched 3%.The combination of trade friction and sanctions could lead to higher prices for not only oil andmetals, but at some stage other goods that are hit with tariffs too. Foreign investors position inemerging market (EM) assets has turned more guarded and consequently, EM currencies ingeneral are witnessing had called for rupee depreciation; penciling a US$ 66-67 by year end.