Debt Funds
Investment Strategy - Debt

• The Investment Strategy would be a combination of Top Down and Bottom
   Up approach for Debt fund management.

• The Top Down approach would entail:
- study of the current state of the economy

- study of the current inflationary trends in the economy a the resultant effect
   on yields and interest rate movement in the debt market

- study of the liquidity flows in/out of the system

• These studies would help the Fund Manager determine the duration call he
    has to take during portfolio construction

• The Bottom Up approach would entail:
- studying credit worthiness of individual companies which would include
   evaluating the companies on the following parameters....

- management evaluation, corporate governance, industry analysis, business
  analysis, past track record, future plans, projections, and expected returns
  would be some of the key points while choosing a company

• Based on these two approaches , a debt investment universe is built up of which the main criteria would be the rating of a particular company

• Other investment restrictions which would be followed are
- minimum rating would be AA in the medium term and P1+ in the short term


Equity Funds
Investment Strategy -Equity

• The Investment Strategy for Equities would be a combination of Top Down
    and Bottom Up approach

• Top Down Process
- analyze and invest in themes and sectors that have potential high growth or core
   sectors influencing the economy
- a macro-economic view and global view is also taken into consideration for
   this process

• Bottom Up Process
- identify investment opportunities in individual companies
- management evaluation, corporate governance, industry analysis, business
  analysis, past track record, future plans, projections, expected returns and
  valuations would be some of the key points while choosing a company.

Our focus would be on long term investing driven by fundamental research

Investment Process - Equity