Frees You To Enjoy The Ride Up Saves You On

M a y

2 0 0 9

Frees you to enjoy the ride up Saves you on the way down

Birla Sun Life

Freedom Fund

An open ended balanced scheme Past performance is no guarantee of future results.

4 fund houses were eligible out of a universe of 26. Period: 4 quarterly CPRs in 2007. 3 fund houses were eligible out of a universe of 27. Period: 4 quarterly CPRs in 2008.

For award methodology and further details refer page 48 For further details of Birla Sun Life Freedom Fund refer page 51

Toll Free: 1-800-22-7000 (MTNL / BSNL) / 1-800-270-7000 | Non Toll Free: 022-6691 7777 | Website: www.birlasunlife.com sms ‘GAIN’ to 56161 | E-mail: [email protected]

Asset Allocation Guide

M a y 2 0 0 9

Asset Allocation Guide

Asset Allocation guide: 25000

This Asset Allocation guide helps you decide your broad allocation to equities at different market levels. The adjustment as per the recommended asset allocation may be done on a six monthly basis or whenever you review your portfolio.

BSE Sensex

20000

15000

Expensive 10000

Fair 5000

Lets see how it will help you in your wealth creation goals with the help of an illustration below.

Mar-09

Mar-08

Sep-08

Mar-07

Sep-06

Sep-07

Mar-05

Mar-06

Sep-05

Mar-04

Sep-03

Sep-04

Mar-02

Mar-03

Sep-02

Mar-01

Sep-01

Sep-00

Mar-99

Mar-00

Sep-99

Mar-98

Sep-98

Mar-97

Sep-97

Sep-96

Mar-95

Mar-96

Sep-95

Mar-94

Sep-94

Mar-93

Sep-92

Sep-93

Mar-91

Sep-91

0

Mar-92

Discounted

How it works?

The graph plots month end values of BSE Sensex since March 1991. The Fair price boundaries have been decided by taking P/E of 10.5 & 18.5 as the lower & upper boundaries times the 1 year forward earnings of the Sensex. The values above the fair band has been assumed to be expensive & below the fair band has been assumed to be discounted. This is just a suggested band as per forward earnings estimate and should not be construed as a recommendation to buy or sell securities.

Recommended Equity Asset Allocation at different market conditions for different types of investors

Assuming you are an “Aggressive” investor lets see how the allocation guide will work

Moderate

50%-60%

30%-40%

0-10%

Fair

60%-70%

40%-50%

10%-20%

Discounted

70%-80%

50%-60%

20%-30%

6 months

Start Fair Market %

Aggressive Expensive

Value in Rs

Value in Rs

Actual Allocation %

18 months

12 months

After 6 Months market goes up but still in Fair range

After 12 Months market goes up to Expensive zone Value in Rs

Actual Allocation %

Conservative

After 18 Months market lands in Discounted zone Value in Rs

Actual Allocation %

Equity

60%

60,000

65%

77400

75%

150444

35%

57169

Debt

40%

40,000

35%

42000

25%

50148

65%

105311

Total Wealth

100,000

200,592

119,400

162,480

Action

Action

Action

Bring back allocation as per the suggested grid

Reduce allocation to Equity as per the suggested grid

Increase allocation to Equity as per thesuggested grid

Recommended allocation%

Value in Rs

Recommended allocation%

Value in Rs

Recommended allocation%

60%

71640

50%

100296

70%

40%

47760

50%

100296

30%

119,400

200,592

Value in Rs 113736 48744 162,480

Thus, we see that the asset allocation guide helps you • Observe discipline in your asset allocation by periodic readjustment as per the suggested grid • Buy low and book profits at high levels by increasing /decreasing exposure at different market conditions. The above example is to only demonstrate the working of the mentioned investment strategy. The above strategy actions are not based on any judgments of the future return of the debt and equity markets / sectors or of any individual security. These views alone are not sufficient and should not be used for the development or implementation of an investment strategy. Any information contained above does not constitute and shall be deemed not to constitute an advice, an offer to sell/purchase or as an invitation to do so for any securities of any entity, and further Birla Sun Life Asset Management Co. Ltd./its subsidiaries/affiliates/sponsors/trustee or their officers, 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 herein. Recipients of the information contained herein should exercise due care and caution and read the offer documents (including if necessary, obtaining the advice of tax / legal / accounting / financial / other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained herein.Opinions expressed are not necessarily those of Birla Sun Life AMC Ltd. or any of their officers, employees, personnel, directors and Birla Sun Life AMC Ltd. and its officers, employees, personnel, directors do not accept responsibility for the same. Birla Sun Life AMC Ltd. or any of its officers, employees, personnel, directors make no representation as to the accuracy, completeness or reliability of the content and hereby disclaim any liability with regard to the same.

02

Market Outlook

M a y 2 0 0 9

Equity Market Sentiments recuperate globally…. The policy aid applied by governments around the globe helped bolster general financial conditions but confidence in the longer-term health of financial firms remained vulnerable. Major economies continued to experience deep contractions in Q1, but witnessed some glimmers of hope recently with economic data suggesting the pace of deterioration in global economies has slowed down. There has been considerable enthusiasm about these “green shoots” in the global economy, economic indicators that have turned upward. While any sign of tentative improvement is worth watching for and considering, moderation in the pace of contraction may not mean an imminent recovery. In order to build confidence in the financial firms, the U.S. federal banking supervisors are keen to ensure that the 19 largest U.S. banks have capital buffer sufficient to withstand losses and sustain lending even in significantly adverse economic conditions. In keeping with this aim, the Federal Reserve and other federal bank supervisors resorted to a comprehensive capital assessment exercise – the Supervisory Capital Assessment Program (SCAP) or more popularly known as the “stress test”. The results indicate total capital raising requirement of US$ 75 billion in contrast to earlier IMF estimate of US$275US$500 billion; this has come as a relief for the markets. On the other hand, Swine Flu or H1N1 Flu, which emerged as a new stress test, added to worries over the economic damage around the world and weighed down global equities, adversely hitting the travel industry. Markets have continued on the uptrend in spite of these concerns. India emerged as the second best performer as compared to stock market gains in other BRIC nations – Brazil (+16%), Russia (+21%) and China (+4.4%). BSE Sensex gained 17.5% to end at 11,403, while Nifty gained 15% to close at 3,474. Sector wise, Realty gained over 36%, Banks over 26%, while defensive segment FMCG was up mere 3%. The enthusiasm is also visible in FII flows in April, which reached US$ 1.3 billion, the highest in last 12 months.

situation. This has in turn enhanced the availability of finance for the real economy, which is now evident in the corporate bonds spreads that have fallen to 3 year lows. Incremental data remained mixed, but veering toward the positive. Cement and steel dispatches, telecom subscribers, port traffic, auto and sales indicated that the pace of economic decline is moderating. However, trends in exports, credit off-take and tax collections remain subdued. Companies that have reported the March quarter results until now have generally fared better than thought. Although most sectors reported better than estimated earnings, leaders have been Cement, Staples, Metals and Financials while Healthcare and Utilities have lagged behind. Concerns going further …. The outcome of the month-long general election will continue to play on investor sentiment. Recent developments indicate a fractured verdict with the odds still favoring a Congress- or BJP-led alliance. Irrespective of whether the Congress or BJP comes to power as dominant party in a coalition, there is little likelihood of a major policy shift which could be market unfriendly. There are signs that the pace of recession is easing, but with doubts over recovery and little room for fiscal pump priming the monetary policy is likely to remain geared to stimulus, which should put a floor under growth. India's widening fiscal deficit has been a cause for concern for some investors given the inflationary tendencies in the economy. However, a large part of deficit is countercyclical (fall in tax revenues) or non-recurring (public sector wage hikes and pre-election spending) in nature and should not pose a major problem. The reason is that India's growth will stabilize at relatively decent levels, which will allow us to correct our fiscal imbalance. The risk to be kept in mind is that of geopolitical tensions emanating from Pakistan, which can result in higher risk premiums being ascribed to Indian markets relative to other emerging countries.

The local healing effect… The RBI's moves on the monetary front have significantly assuaged domestic liquidity

Debt Market Bonds rise as surplus liquidity whets demand... Government bond prices strengthened backed by excess liquidity in the banking system ensuring smooth functioning of G-sec auctions. Besides the financial year-end repositioning for Indian banks at the month start, gains were also largely due to the OMO buyback and the MSS unwind plan that underpinned sentiment in the market. The ten-year benchmark yield curve shifted to a lower plane with the benchmark yield making a low of 6.03% down from 7.01% at the beginning of the month, before stabilising around 6.25% levels. Activity in the non-SLR market remained choppy with corporate bond yields climbing as traders liquidated positions ahead of the upcoming fresh debt issuances. Redemption of two dated securities released Rs.40,000 crore into the system while increased government spending ahead of national elections in April and May also augmented the liquidity. Interest payments and slower loan growth in confluence provided a further boost to cash and thus sentiment for bonds. The RBI cut the LAF repo and reverse repo rates by 25 bps each to 4.75% and 3.25% respectively. However, a more significant point in the policy was the RBI's 6% guidance for growth in FY10. The lower forecast reinforced the view that the policy to remain benign in the future. RBI reiterated to ensure ample liquidity by continuing to take a more active role in the borrowing program, which would also then enable banks to lower lending rates.

(Ways and Means Advances) limits 2 weeks in a row which is worrisome. WPI rose slightly with inflation at 0.57% y-o-y for the week ended April 18, above the previous month's 0.26%. The credit growth witnessed a sharp deceleration in the previous month despite banking system being awashed with ample liquidity. Outlook Bond market is in for a choppy month given bond auctions and elections. This month will see an issuance of Rs.48,000 crore of government bonds with no redemptions scheduled for the month. Though, too much liquidity in the banking system as well as light positions on SLR may result in good demand. Results of the general elections will also be announced in the month and the market is apprehensive of the outcome of the election results. More importantly, the budget of the new government is also perceived to be an event risk. We continue to maintain our stance that the short terms rates should collapse and remain low. Long terms rates shall follow shortly thereafter. Corporate spread may squeeze further as some clarity on supply issue emerges. The 5-10 year spread currently at 20 bps may widen to around 50 bps and the 10-30 year spread shall also reduce from current 100 to around 75 bps. Economy has been witnessing some positive signs from various quarters. These “greenshoots”, i.e., Port traffic figures, Real M1 (money supply), Auto sales, Cement sales indicate a bottoming out of economy and a possible recovery in the months to come. Though the world economy faces a huge output gap and the inflationary expectations remain subdued, these factors will remain favorable for the bond markets.

High government borrowing sparks supply fears... Weekly data released by RBI indicated government's borrowings overshooting the WMA Our Investment Team (In alphabetical order) A. Balasubramanian

Chief Investment Officer

Atul Penkar

Fund Manager - Equity

Achala Kanitkar

Research Analyst - Equity

Hemang Dagli

Sr. Dealer - Equity & Deri. Specialist

Ajay Argal

Co - Head Equity

Hina Sampat

Executive - Knowledge Management

Ajay Garg

Fund Manager - Equity

Lokesh Mallya

Credit Analyst-Fixed Income

Ankit Sancheti

Fund Manager - Equity

Mahesh Patil

Co - Head Equity

Maneesh Dangi

Co - Head Fixed Income

Satyabrata Mohanty

Co - Head Fixed Income

Paresh Khandelwal

Equity Analyst

Sujit Patki

Dealer-Equity

Prasad Dhonde

Fund Manager - Debt

Sunaina da Cunha

Fund Manager - Debt

Sanjay Chawla

Fund Manager - Equity

Vineet Maloo

Fund Manager - Equity

03

Birla Sun Life Equity Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities.

Large

Investment Performance

Mid Small 40

28.49

30

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Mahesh Patil October 01, 2006 16 years August 27, 1998 An Open-ended Growth Scheme

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

18.97

20

Fund Details

10

1 Year

0

3 Years -2.84

-10

Since Inception

-30 -40

-36.84

-38.00

-50

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Birla Sun Life Equity Fund - Growth

(Payout, Reinvestment & Sweep)

:

145.45

Benchmark Average AUM

: :

BSE 200 Rs. 793.05 Crores

Load Structure (Incl for SIP) Entry Load* : :

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

: : :

33.13% -0.18 0.92

:

4.38

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

BSE 200

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Equity Fund... Returns (%)*

Value (Rs.) of SIP in Investment Period

Growth

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

5 Years

-3.71

-20

Plans / Options & NAV (as on April 29, 2009) Dividend : 46.88

Exit Load**

14.87

12.16

Since Inception

Total Investment (Rs.)

BSE 200

Birla Sun Life Equity Fund

BSE 200

127000

281801

468034

14.35

Last 5 years

60000

66812

72501

4.26

7.52

Last 3 years

36000

30468

30028

-10.58

-11.48

Last 1 year

23.15

12000

11693

11454

-4.77

-8.43

Date of First Installment : October 01, 1998 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer Banks State Bank of India ICICI Bank Ltd. Axis Bank Ltd. HDFC Bank Ltd. Yes Bank Ltd. Indian Bank

% to Net Assets 13.05 3.40 2.93 2.62 2.40 1.17 0.54

Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd.

9.31 7.76 1.55

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd. Megasoft Ltd.

8.75 6.56 1.77 0.41

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd.

8.19 8.19 #

Power Reliance Infrastructure Ltd. Tata Power Company Ltd. CESC Ltd. KEC International Ltd. GVK Power & Infrastructure Ltd.

7.38 2.25 1.84 1.40 1.10 0.79

Industrial Capital Goods Bharat Heavy Electricals Ltd. Crompton Greaves Ltd.

7.25 1.75 1.64

Issuer

% to Net Assets

Suzlon Energy Ltd. Thermax Ltd. BEML LIMITED Bharat Bijlee Ltd.

1.32 1.25 0.67 0.62

Consumer Non Durables ITC Ltd. United Spirits Ltd. United Breweries Holdings Ltd.

6.71 3.98 1.80 0.94

Finance Rural Electrification Corporation Ltd. HDFC Ltd. IDFC Ltd. India Infoline Ltd. Reliance Capital Ltd.

5.96 1.56 1.40 1.25 1.12 0.63

Oil Oil & Natural Gas Corporation Ltd.

4.05 4.05

Pharmaceuticals Dr. Reddy's Laboratories Ltd. Sun Pharmaceutical Industries Ltd. Ranbaxy Laboratories Ltd. Maestro Mediline Systems Ltd.

3.97 2.13 0.99 0.81 0.03

Construction Project Larsen & Toubro Ltd. Punj Lloyd Ltd.

4.21 2.85 1.36

Issuer

0.54 0.39 #

Retailing Pantaloon Retail (India) Ltd. Pantaloon Retail Ltd.-Bonus - Class B Shar Ser 1**

1.53 1.37 0.17

Cement Grasim Industries Ltd.

1.29 1.29

Construction Unitech Ltd.

1.17 1.17

Non - Ferrous Metals Sterlite Industries (India) Ltd.

1.16 1.16

Diversified Hindustan Unilever Ltd.

0.92 0.92

Future and Options Reliance Capital Future May 2009 Reliance Infra Future May 2009 Reliance Industries Ltd. Future May 2009 CNX Nifty Futures May 2009 Cash & Cash Equivalents Net receivables / payables

Media & Entertainment Jagran Prakashan Ltd.

1.55 0.62

% to Net Assets

Balaji Telefilms Ltd. Zee Entertainment Enterprises Ltd. Magnasound India Ltd. **

Total Net Assets

** Represents thinly traded/ non traded securities. # Indicates less than 0.01

« « « « Value Research Rating# Birla Sun Life Equity Fund

Equity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09 (Past performance is no guarantee of future results.) for ranking methodology please refer page 48

04

Birla Sun Life Equity Fund

-3.91 0.95 0.75 -1.24 -4.38 9.53 7.93 100.00

Birla Sun Life Midcap Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective to achieve long-term growth of capital at controlled level of risk by primarily investing in midcap stocks.

Large

Investment Performance

Mid Small

40 28.14

30

Fund Details

Managing Fund Since Total Experience Date of inception Nature of the scheme Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. A. Balasubramaniam & Mr. Sanjay Chawla September 12,2007 18 years / 13 Years October 03, 2002 An Open-ended Growth Scheme

10.74

10

% Returns

Fund Manager

1 Year

3 Years

0 -5.08

-10

5 Years

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Plans / Options & NAV (as on April 29, 2009) Dividend : 14.15

Since Inception

-9.10

-20 -30 -40

-39.95 -44.97

-50

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

CNX Midcap

Birla Sun Life Midcap Fund - Growth

: : : :

25.22

17.91

20

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Midcap Fund... Value (Rs.) of SIP in Total Investment (Rs.)

Investment Period

CNX Midcap

Returns (%)*

Birla Sun Life Midcap Fund

CNX Midcap

Birla Sun Life Midcap Fund

Since Inception

78000

112181

135116

11.04

Growth

:

51.06

Last 5 years

60000

59601

67708

-0.26

4.79

Benchmark Average AUM

: :

CNX Midcap Rs. 358.19 Crores

Last 3 years

36000

27759

29140

-16.24

-13.31

Last 1 year

12000

10806

11219

-18.14

-12.00

(Payout, Reinvestment & Sweep)

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

34.78% -0.24 0.87

:

1.38

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

16.71

Date of First Installment : November 01, 2002 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Consumer Non Durables Marico Ltd. Balrampur Chini Mills Ltd. Britannia Industries Ltd. Colgate-Palmolive (India) Ltd.

8.26 3.21 1.87 1.71 1.47

Banks Bank of Baroda Union Bank of India Allahabad Bank Indian Bank

7.74 3.50 1.76 1.40 1.08

Construction Punj Lloyd Ltd. Housing Development & Infrastructure Ltd Simplex Infrastructures Ltd. IVRCL Infrastructures & Projects Ltd.

7.57 2.46 1.96 1.87 1.27

Industrial Capital Goods Crompton Greaves Ltd. Suzlon Energy Ltd. Thermax Ltd. AIA Engineering Ltd. BEML Limited Sterlite Technologies Ltd.

8.11 2.89 1.36 1.20 1.04 0.91 0.70

Power GVK Power & Infrastructure Ltd. Jyoti Structures Ltd. Kalpataru Power Transmission Ltd. KEC International Ltd.

6.14 2.39 2.37 0.80 0.57

Issuer

% to Net Assets

Industrial Products Sintex Industries Ltd. Jain Irrigation Systems Ltd.

5.93 3.62 2.31

Finance Rural Electrification Corporation Ltd. India Infoline Ltd.

5.45 2.76 2.69

Petroleum Products Hindustan Petroleum Corporation Ltd. Castrol India Ltd.

5.28 3.69 1.60

Ferrous Metals Welspun Gujarat Stahl Rohren Ltd. Monnet Ispat and Energy Limited

4.39 3.23 1.16

Pharmaceuticals Lupin Ltd.

4.12 4.12

Auto Ancillaries Exide Industries Ltd. Apollo Tyres Ltd.

3.78 2.63 1.15

Fertilisers Tata Chemicals Ltd.

3.60 3.60

Chemicals Solar Industries Ltd.

2.59 2.59

Minerals/Mining Nava Bharat Ventures Ltd.

2.48 2.48

# « « « « Value Research Rating

Issuer

% to Net Assets

Pesticides United Phosphorus Ltd.

2.29 2.29

Transportation Great Eastern Shipping Company Ltd.

2.20 2.20

Media & Entertainment Sun TV Network Limited Zee Entertainment Enterprises Ltd.

1.69 1.34 0.36

Auto Bajaj Auto Ltd.

1.37 1.37

Cement Shree Cements Ltd. The India Cements Ltd.

1.16 0.68 0.48

Software Mphasis Ltd. Infotech Enterprises Ltd.

1.16 0.81 0.34

Non - Ferrous Metals Hindustan Zinc Ltd

1.03 1.03

Cash & Cash Equivalents

5.63

Net receivables / payables

8.04

Total Net Assets

100.00

CRISIL~CPR 1^^

Birla Sun Life Midcap Fund

Birla Sun Life Midcap Fund

Equity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

Small & Mid Equity Schemes (16 Schemes), 5 Yrs ended 31-Mar-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

05

Birla Sun Life Frontline Equity Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity by aiming at being as diversified across various industries and or sectors as its chosen benchmark index, BSE 200.

Large

Investment Performance

Mid Small

26.41

30

Fund Details : : : : :

Mr. Mahesh Patil October 01,2006 16 years August 30, 2002 An Open-ended Growth Scheme

12.16

10

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

4.98

1 Year 0

3 Years

-10

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

-30

-38.00

-50

Benchmark Average AUM

: : :

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

47.72 BSE 200 Rs. 481.14 Crores

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Frontline Equity Fund... Value (Rs.) of SIP in Total Investment (Rs.)

Since Inception Last 5 years

BSE 200

BSE 200

29.36% 0.06 0.82

:

3.97

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

79000

120699

153104

12.71

19.87

60000

66812

80581

4.26

11.77

Last 3 years

36000

30468

33983

-10.58

-3.72

12000

11693

12056

-4.77

0.88

Date of First Installment : October 01, 2002 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation % to Net Assets

Banks ICICI Bank Ltd. State Bank of India HDFC Bank Ltd. Axis Bank Ltd. Bank of Baroda

13.59 3.84 3.05 2.80 2.61 1.29

Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Hindustan Petroleum Corporation Ltd.

10.42 7.75 1.71 0.96

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd. Wipro Ltd.

9.17 6.39 1.72 1.06

Consumer Non Durables ITC Ltd. United Spirits Ltd. Nestle India Ltd. Balrampur Chini Mills Ltd.

7.06 3.80 1.71 1.00 0.54

Power Tata Power Company Ltd. Reliance Infrastructure Ltd. CESC Ltd. NTPC Ltd.

6.91 2.01 1.92 1.83 1.14

Telecom-Services Bharti Airtel Ltd.

6.80 6.67

Issuer

% to Net Assets

Reliance Communications Ltd.

0.13

Industrial Capital Goods Crompton Greaves Ltd. Bharat Heavy Electricals Ltd. BEML Limited Bharat Electronics Ltd. Suzlon Energy Ltd.

6.10 1.65 1.29 1.11 1.05 1.00

Finance Housing Development Finance Corp. Ltd. Rural Electrification Corporation Ltd. Reliance Capital Ltd. IDFC

5.65 2.07 1.51 1.26 0.81

Oil Oil & Natural Gas Corporation Ltd.

3.76 3.76

Construction Project Larsen & Toubro Ltd. LANCO Infratech Ltd. Punj Lloyd Ltd.

4.70 3.24 0.33 1.14

Pharmaceuticals Cipla Ltd. Sun Pharmaceutical Industries Ltd. Dr.Reddys Laboratories Ltd.

2.62 0.90 0.88 0.84

Issuer

Non - Ferrous Metals Hindalco Industries Ltd. Sterlite Industries (India) Ltd.

2.15 1.10 1.05

1.86 1.86

Media & Entertainment Zee Entertainment Enterprises Ltd. Television Eighteen India Ltd.

1.73 1.05 0.68

Ferrous Metals Tata Steel Limited Jindal Steel & Power Ltd.

1.63 1.09 0.54

Fertilisers Tata Chemicals Ltd.

1.28 1.28

Hotels Indian Hotels Co. Ltd.

0.99 0.99

Construction Unitech Ltd.

0.95 0.95

Future and Options Reliance Infra Fut May 2009 Reliance Industries Ltd. Fut May 2009 CNX Nifty Futures May 2009

-3.73 2.39 -1.39 -4.73

Cash & Cash Equivalents

11.64

Total Net Assets

4.71 100.00

« « « « « Value Research Rating#

Birla Sun Life Frontline Equity Fund

Birla Sun Life Frontline Equity Fund

Diversified Equity Scheme (69 Schemes), 2 Yrs ended 31-Mar-09

Equity: Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

5-Star Award by ICRA

% to Net Assets

Cement Grasim Industries Ltd.

Net receivables / payables

CRISIL~CPR 1^^

@

Birla Sun Life Frontline Equity Fund Open Ended Diversified Equity - Defensive (55 Schemes), 3 year ended 31-Dec-08

5-Star Award by ICRA@ Birla Sun Life Frontline Equity Fund Open Ended Diversified Equity - Defensive (62 Schemes), 1 year ended 31-Dec-08

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

06

Birla Sun Life Frontline Equity Fund

Last 1 year

Issuer

: : :

Returns (%)*

Birla Sun Life Frontline Equity Fund

*For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

BSE 200

Birla Sun Life Frontline Equity Fund - Growth

Plans / Options & NAV (as on April 29, 2009) Dividend : 15.15 Growth

Since Inception

-28.70

Investment Period

(Payout, Reinvestment & Sweep)

5 Years

-3.71

-20

-40

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

20.90

18.17

20

Birla Sun Life Tax Relief ‘96 An open - ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities

Large

Investment Performance

Mid Small

40 29.35

30 20

Fund Details : : : : :

Mr. Ajay Garg October 01,2006 15 years March 29, 1996 An Open-ended ELSS Scheme

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Dividend Payout Rs. 500/Rs. 500/Within 10 working days

:

Available

:

Not Available

:

Not Available

-6.13

-10

5 Years

-3.71

Since Inception

-20 -30 -40

-41.00

-38.00

BSE 200

Birla Sun Life Tax Relief ‘96 - Dividend

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Returns assume reinvestment of the tax free dividend declared.

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Relief ‘96... Value (Rs.) of SIP in Investment Period

Plans / Options & NAV (as on April 29, 2009) Dividend : 51.58

10.91

3 Years

1 Year

0

-50

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

12.16

9.94

10

Since Inception

Total Investment (Rs.)

Returns (%)*

BSE 200

Birla Sun Life Tax Relief ‘96

BSE 200

Birla Sun Life Tax Relief ‘96

157000

395811

1058323

13.22

Last 5 years

60000

66812

62489

4.26

26.42 1.61

BSE 200 Rs. 591.69 Crores

Last 3 years

36000

30468

28396

-10.58

-14.87

Last 1 year

12000

11693

11440

-4.77

-8.64

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil

Date of First Installment : April 01, 1996 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

(Payout, Reinvestment & Sweep)

Growth (w.e.f. 06/03/08)

:

Benchmark Average AUM

: :

Load Structure (Incl for SIP) Entry Load* : Exit Load

:

6.06

Nil *For direct application: Entry Load is Nil.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

Portfolio & Asset Allocation : : : :

36.75% -0.26 1.00 0.62

Issuer Banks State Bank of India ICICI Bank Ltd. HDFC Bank Ltd. Axis Bank Ltd. ING Vysya Bank Ltd. Kotak Mahindra Bank Ltd. Petroleum Products Reliance Industries Ltd. Reliance Petroleum Ltd.

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

% to Net Assets 14.90 4.07 2.98 2.87 2.41 1.73 0.84 11.53 8.62 2.91

Industrial Capital Goods Bharat Heavy Electricals Ltd. Honeywell Automation India Ltd. Crompton Greaves Ltd. Bharat Bijlee Ltd. Siemens Ltd.

8.09 3.83 2.04 1.29 0.61 0.32

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd.

7.48 5.68 1.81

Finance HDFC Ltd. ICRA Ltd. India Infoline Ltd.

7.46 3.26 2.92 1.27

Telecom-Services Bharti Airtel Ltd.

6.83 4.34

Issuer Reliance Communications Ltd.

% to Net Assets 2.49

Ferrous Metals Jindal Steel & Power Ltd. Tata Steel Limited

6.60 4.01 2.59

Construction Project Larsen & Toubro Ltd.

5.48 5.48

Power Reliance Infrastructure Ltd. GVK Power & Infrastructure Ltd.

5.24 4.03 1.21

Auto Maruti Suzuki India Ltd. Mahindra & Mahindra Ltd.

3.42 2.01 1.41

Non - Ferrous Metals Sterlite Industries (India) Ltd. Hindalco Industries Ltd.

3.34 1.78 1.56

Auto Ancillaries Bosch Ltd. MRF Ltd.

3.27 2.51 0.76

Hotels Indian Hotels Co. Ltd. Asian Hotels Ltd. Taj GVK Hotels & Resorts Ltd.

2.86 1.22 0.91 0.73

Issuer Consumer Non Durables Shaw Wallace & Company Ltd. United Breweries Holdings Ltd. Radico Khaitan Ltd.

% to Net Assets 2.78 1.03 1.02 0.73

Pesticides United Phosphorus Ltd. Rallis India Ltd.

2.33 1.98 0.35

Industrial Products Cummins India Ltd.

2.05 2.05

Media & Entertainment Television Eighteen India Ltd. Magnasound India Ltd. **

1.21 1.21 #

Transportation Jet Airways (India) Ltd.

0.93 0.93

Trading Uniphos Enterprises Ltd.

0.33 0.33

Cash & Cash Equivalents

3.65

Net receivables / payables

0.22

Total Net Assets

100.00

** Represents thinly traded/ non traded securities. # Indicates less than 0.01

07

Birla Sun Life Infrastructure Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

An open-ended growth scheme with the objective to providing for medium to long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities of companies that are participating in the growth and development of Infrastructure in India.

Investment Performance

Mid Small

10

: : : : :

Mr. Mahesh Patil Since inception 16 years March 17, 2006 An Open-ended Growth Scheme

% Returns

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

-0.79

-30 -32.83 -38.06

:

9.44

Benchmark Average AUM

: :

S&P CNX NIFTY Rs. 312.79 Crores

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

35.20% -0.23 1.02

:

2.97

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

S&P CNX Nifty

Birla Sun Life Infrastructure Fund - Growth

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Infrastructure Fund... Returns (%)*

Value (Rs.) of SIP in

Total Investment (Rs.)

S&P CNX NIFTY

Birla Sun Life Infrastructure Fund

S&P CNX NIFTY

Birla Sun Life Infrastructure Fund

Since Inception

37000

33214

30332

-6.74

-12.23

Last 3 year

36000

32213

29451

-7.11

-12.66

Last 1 year

12000

11972

11593

-0.44

-6.31

Date of First Installment : April 01, 2006 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Issuer

% to Net Assets

Power Reliance Infrastructure Ltd. Tata Power Company Ltd. CESC Ltd. GVK Power & Infrastructure Ltd. KEC International Ltd. Jyoti Structures Ltd. NTPC Ltd. PTC India Ltd Kalpataru Power Transmission Ltd.

15.88 2.50 2.34 2.34 2.15 1.86 1.56 1.52 1.29 0.33

Finance Housing Development Finance Corp. Ltd. Power Finance Corporation Ltd Rural Electrification Corporation Ltd. Reliance Capital Ltd. IDFC

7.23 2.98 1.81 1.24 1.16 0.03

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd.

7.21 4.81 2.39

Banks ICICI Bank Ltd. Axis Bank Ltd. State Bank of India HDFC Bank Ltd. South Indian Bank Ltd.

13.43 4.49 3.24 2.32 2.31 1.06

Construction Project Larsen & Toubro Ltd. LANCO Infratech Ltd. Voltas Ltd.

4.85 3.74 0.62 0.49

Industrial Capital Goods Bharat Heavy Electricals Ltd. Thermax Ltd. Crompton Greaves Ltd. Bharat Electronics Ltd. BEML Limited Suzlon Energy Ltd. ABB Ltd. Bharati Shipyard Ltd. Alstom Projects India Ltd. Sterlite Technologies Ltd.

10.14 1.93 1.52 1.51 1.47 1.22 0.98 0.66 0.50 0.33 0.02

Construction Nagarjuna Construction Company Ltd. Unitech Ltd. ITD Cementation India Ltd. Madhucon Projects Ltd. HSIL Limited Patel Engineering Ltd.

3.81 1.33 1.09 0.60 0.46 0.21 0.12

Oil Oil & Natural Gas Corporation Ltd.

3.42 3.42

Industrial Products Sintex Industries Ltd. Finolex Cables Ltd. Kirloskar Oil Engines Ltd. Torrent Cables Ltd.

2.26 0.68 0.64 0.63 0.31

Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd.

08

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

-50

Plans / Options & NAV (as on April 29, 2009) Dividend : 8.77 Growth

Since Inception

-20

Investment Period

(Payout, Reinvestment & Sweep)

-1.83

-4.93

-10

-40

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

0.68

3 Years

1 Year

0

9.78 8.20 1.58

Issuer

% to Net Assets

Gas Gujarat Gas Company Ltd.

2.10 2.10

Non - Ferrous Metals Sterlite Industries (India) Ltd. Hindalco Industries Ltd.

1.83 1.33 0.50

Cement Grasim Industries Ltd. Jaiprakash Associates Ltd.

1.49 1.37 0.12

Hotels Taj GVK Hotels & Resorts Ltd. Indian Hotels Co. Ltd.

0.78 0.54 0.24

Ferrous Metals Maharashtra Seamless Ltd.

0.53 0.53

Transportation Arshiya International Ltd

0.41 0.41

Future and Options CNX Nifty Futures MAY 2009

-6.29 -6.29

Cash & Cash Equivalents

8.24

Net receivables / payables

12.91

Total Net Assets

100.00

Birla Sun Life Basic Industries Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

A multi-sector open-ended growth scheme with the objective of long term growth capital, through a portfolio with a target allocation of 100% equity, focusing on investing in companies sensitive to economic cycles and commodity pricing cycles. The investments will be in companies which are often referred to as cyclical companies.

Investment Performance

Mid Small

30 20.02

20

12.16

11.88

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ankit Sancheti November 30,2007 8 years January 15, 2000 An Open-ended Growth Scheme

% Returns

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

3 Years

1 Year

0 -10

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

-20 -30 -40

-39.29

-38.00

: : :

:

54.52 BSE 200 Rs. 79.47 Crores

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

34.57% -0.28 0.96

:

2.51

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

BSE 200

Birla Sun Life Basic Industries Fund - Growth

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Basic Industries Fund... Value (Rs.) of SIP in Investment Period

Load Structure (Incl for SIP) Entry Load* : Exit Load**

Since Inception

-50

(Payout, Reinvestment & Sweep)

Benchmark Average AUM

5 Years

-3.71

-6.45

Plans / Options & NAV (as on April 29, 2009) Dividend : 21.13 Growth

8.28

10

Total Investment (Rs.)

Since Inception

Returns (%)*

BSE 200

Birla Sun Life Basic Industries Fund

BSE 200

Birla Sun Life Basic Industries Fund

110000

223876

321824

14.95

Last 5 years

60000

66812

64413

4.26

22.41 2.81

Last 3 years

36000

30468

29124

-10.58

-13.34

Last 1 year

12000

11693

11332

-4.77

-10.29

Date of First Installment : March 01, 2000 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Petroleum Products Reliance Industries Ltd. Bharat Petroleum Corporation Ltd. Indian Oil Corporation Ltd. Hindustan Petroleum Corporation Ltd.

15.37 9.37 2.37 2.28 1.35

Industrial Capital Goods Bharat Heavy Electricals Ltd. Apar Industries Ltd. Bharat Electronics Ltd. BEML LIMITED Crompton Greaves Ltd. Suzlon Energy Ltd. Elecon Engineering Ltd. AIA Engineering Ltd.

13.58 3.91 2.14 2.11 2.09 1.76 0.75 0.46 0.36

Power NTPC Ltd. Jyoti Structures Ltd. Neyveli Lignite Corporation Ltd. Tata Power Company Ltd. Reliance Infrastructure Ltd. PTC India Ltd KEC International Ltd.

13.51 3.92 2.73 2.17 1.86 1.73 0.87 0.23

Banks Bank of Baroda Union Bank of India ICICI Bank Ltd.

8.63 3.00 2.69 2.36

Issuer

% to Net Assets

Issuer

% to Net Assets

Axis Bank Ltd.

0.57

Hindalco Industries Ltd.

0.36

Construction IVRCL Infrastructures & Projects Ltd. Unitech Ltd. Nagarjuna Construction Company Ltd.

5.60 3.91 1.08 0.61

Paper Ballarpur Industries Ltd.

1.35 1.35

Consumer Non Durables Balrampur Chini Mills Ltd. Mcleod Russel India Ltd.

5.60 3.24 2.36

Fertilisers Tata Chemicals Ltd. Coromandel Fertilisers Ltd.

1.29 1.28 0.01

Finance Housing Development Finance Corp. Ltd. Reliance Capital Ltd.

4.71 2.40 2.31

Auto Ancillaries Exide Industries Ltd.

1.28 1.28

Ferrous Metals Jindal Steel & Power Ltd.

1.15 1.15

Oil Oil & Natural Gas Corporation Ltd.

3.21 3.21

Cement Ultratech Cement Ltd.

2.08 2.08

Gas Gujarat State Petronet Ltd Gujarat Gas Company Ltd.

0.27 0.24 0.03

Industrial Products Sintex Industries Ltd. TRF Ltd.

1.95 1.49 0.46

Future and Options CNX Nifty Futures MAY 2009

9.68 9.68

Construction Project Larsen & Toubro Ltd.

1.94 1.94

Cash & Cash Equivalents Net receivables / payables Total Net Assets

Non - Ferrous Metals Hindustan Zinc Ltd

15.98 -9.07 100.00

1.88 1.53

09

Birla Sun Life India GenNext Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large Mid

An open-ended growth scheme with the objective to target growth of capital by investing in equity/equity related instruments of companies that are expected to benefit from the rising consumption patterns in India, which in turn is getting fuelled by high disposable incomes of the young generation (Generation Next). The scheme will invest in companies that have the following characteristics: 1. Companies that seek growth in revenues arising out of demand from the younger generation (GenNext) for their products or services. 2. They should be engaged in manufacturing of products or rendering of services that go directly to the consumer. 3. The products and services should have distinct brand identity, thereby enabling choice.

Small

Investment Performance Fund Details

Managing Fund Since Total Experience Date of inception Nature of the scheme Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : :

Mr. A.Balasubramaniam & Mr. Sanjay Chawla September 12,2007 18 years / 13 years August 05, 2005 An Open-ended Growth Scheme

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

:

Available

:

Available

:

Available

20

1 Year

0

3 Years -1.92

-20 -30

-28.87 -32.83

-40

Growth

:

13.15

Benchmark Average AUM

: :

S&P CNX NIFTY Rs. 75.63 Crores

Load Structure (Incl for SIP) Entry Load* :

Systematic Investment Plan (SIP)

Value (Rs.) of SIP in Investment Period

:

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil

Total Investment (Rs.)

28.07% -0.19 0.78

:

1.43

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

S&P CNX NIFTY

Birla Sun Life India GenNext Fund

Since Inception

44000

42208

40006

-2.22

-5.05

36000

32213

31149

-7.11

-9.21

Last 1 year

12000

11972

11421

-0.44

-8.93

Date of First Installment : September 01, 2005 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

: : :

S&P CNX NIFTY

Returns (%)*

Birla Sun Life India GenNext Fund

Last 3 years

*For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

10

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

S&P CNX Nifty

Birla Sun Life India GenNext Fund - Growth

(Payout, Reinvestment & Sweep)

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover Ratio

Since Inception

-0.79

-10

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life India GenNext Fund...

Plans / Options & NAV (as on April 29, 2009) Dividend : 10.89

Exit Load**

10.82

7.61

10

% Returns

Fund Manager

% to Net Assets

Consumer Non Durables Glaxosmithkline Consumer Healthcare Ltd. ITC Ltd. Nestle India Ltd. Colgate-Palmolive (India) Ltd. Britannia Industries Ltd. Titan Industries Ltd. Shaw Wallace & Company Ltd. Godrej Consumer Products Ltd. Mcleod Russel India Ltd.

44.34 9.46 8.52 7.77 7.12 3.98 2.60 2.43 1.26 1.19

Media & Entertainment Zee Entertainment Enterprises Ltd. Zee News Ltd. Jagran Prakashan Ltd. Television Eighteen India Ltd. PVR Ltd.

11.02 3.64 2.68 2.42 1.25 1.02

Telecom-Services Bharti Airtel Ltd.

7.53 2.89

Issuer

% to Net Assets

Issuer

% to Net Assets

Reliance Communications Ltd. Idea Cellular Ltd.

2.77 1.87

Construction Mahindra Lifespace Developers Ltd.

2.87 2.87

Pharmaceuticals Sun Pharmaceutical Industries Ltd. Glaxosmithkline Pharmaceuticals Ltd.

6.08 3.28 2.79

Petroleum Products Castrol India Ltd.

2.20 2.20

Software Everonn Systems India Ltd. Core Projects & Technologies Ltd.

4.99 2.95 2.04

Banks HDFC Bank Ltd.

2.13 2.13

Retailing Pantaloon Retail (India) Ltd. -Class B

0.13 0.13

Auto Hero Honda Motors Ltd. Bajaj Auto Ltd.

4.29 3.05 1.24

Cash & Cash Equivalents

4.13

Finance India Infoline Ltd. HDFC Ltd.

3.53 1.97 1.56

Total Net Assets

Net receivables / payables

6.78 100.00

Birla Sun Life Advantage Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk through a diversified research based investment approach.

Large

Investment Performance

Mid Small

30 20

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. A.Balasubramaniam September 12,2007 18 years February 24, 1995 An Open-ended Growth Scheme

% Returns

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

5 Years

-1.80

-10

Since Inception

-7.52

-20 -30 -40

-36.92

-34.11

-50

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Birla Sun Life Advantage Fund - Growth

Growth

:

90.03

Benchmark Average AUM

: :

BSE SENSEX Rs. 261.67 Crores

Load Structure (Incl for SIP) Entry Load* : :

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

: : :

33.01% -0.33 0.98

:

2.25

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

BSE Sensex

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Advantage Fund... Value (Rs.) of SIP in Investment Period

(Payout, Reinvestment & Sweep)

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

8.86

3 Years

1 Year

0

Plans / Options & NAV (as on April 29, 2009) Dividend : 61.41

Exit Load**

18.31

15.06

11.71 10

Since Inception

Total Investment (Rs.)

Returns (%)*

BSE SENSEX

Birla Sun Life Advantage Fund

BSE SENSEX

Birla Sun Life Advantage Fund

170000

416847

724063

11.81

Last 5 years

60000

71710

62092

7.08

18.62 1.35

Last 3 years

36000

31376

28548

-8.76

-14.55

Last 1 year

12000

11905

11560

-1.49

-6.81

Date of First Installment : March 01, 1995 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Banks ICICI Bank Ltd. State Bank of India HDFC Bank Ltd. Indian Overseas Bank Bank of India Indian Bank

12.91 3.30 2.95 2.93 1.90 0.94 0.89

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd. Idea Cellular Ltd.

11.40 4.02 3.90 3.48

Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd.

11.25 7.98 3.28

Ferrous Metals Jindal Steel & Power Ltd. Welspun Gujarat Stahl Rohren Ltd. Tata Steel Limited

8.36 3.61 2.60 2.15

Software Infosys Technologies Ltd. Core Projects & Technologies Ltd. Tata Consultancy Services Ltd. Mphasis Ltd.

7.80 4.88 1.40 1.13 0.38

Industrial Capital Goods Bharat Heavy Electricals Ltd.

6.99 4.18

Issuer

% to Net Assets

Issuer

% to Net Assets

Thermax Ltd. Emco Ltd. Areva T&D India Ltd.

1.06 0.94 0.81

Consumer Non Durables ITC Ltd. United Spirits Ltd. Balrampur Chini Mills Ltd. Tata Tea Ltd.

6.04 2.72 1.66 1.60 0.05

Cement The India Cements Ltd. ACC Ltd. Century Textiles and Industries Ltd

5.37 2.12 1.89 1.35

Construction Project Larsen & Toubro Ltd. Punj Lloyd Ltd.

5.12 3.41 1.71

Pharmaceuticals Pfizer Ltd. Cipla Ltd.

3.09 1.69 1.40

Future and Options STER FUT MAY 2009

-1.66 -1.66

Cash & Cash Equivalents

10.18

Power Reliance Infrastructure Ltd. KEC International Ltd.

3.02 1.67 1.35

Net receivables / payables

Non - Ferrous Metals Sterlite Industries (India) Ltd.

1.80 1.80

Diversified Aditya Birla Nuvo Ltd.

1.48 1.48

Construction Unitech Ltd. Dharti Dredging and Infrastructure Ltd **

1.27 1.14 0.13

Fertilisers Tata Chemicals Ltd.

1.13 1.13

Media & Entertainment Television Eighteen India Ltd.

0.79 0.79

Finance IDFC Ltd.

0.71 0.71

Transportation Great Eastern Shipping Company Ltd.

0.19 0.19

Total Net Assets

2.76 100.00

** Represents thinly traded/ non traded securities. Total Percentage of thinly/non traded securities is 0.13%.

11

Birla Sun Life Tax Plan*

M a y 2 0 0 9

An open - ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment.

Large

Investment Performance

Mid Small

30

21.94

20

: : : : :

Mr. Sanjay Chawla September 12,2007 13 years February 16, 1999 An Open-ended ELSS Scheme

% Returns

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

0

Dividend Payout Rs. 500/Rs. 500/Within 10 working days

:

Available

:

Not Available

:

Not Available

Benchmark Average AUM

: : :

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

8.29 BSE SENSEX Rs. 104.60 Crores

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : : :

31.78% -0.31 0.92 1.92

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

-34.75

-34.11

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. Returns assume reinvestment of the tax free dividend declared.

BSE Sensex

Birla Sun Life Tax Plan - Dividend

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Tax Plan...

Since Inception

Value (Rs.) of SIP in Total Investment (Rs.)

BSE SENSEX

Returns (%)*

Birla Sun Life Tax Plan

BSE SENSEX

Birla Sun Life Tax Plan

122000

256257

363088

13.97

Last 5 years

60000

71710

65425

7.08

3.43

Last 3 years

36000

31376

29123

-8.76

-13.35

Last 1 year

20.32

12000

11905

11658

-1.49

-5.30

Date of First Installment : March 01, 1999 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Reliance Petroleum Ltd.

13.49 6.61 4.07 2.81

Issuer Ultratech Cement Ltd. Ambuja Cements Ltd.

% to Net Assets 1.56 0.74

Consumer Non Durables ITC Ltd. Marico Ltd.

4.20 3.47 0.74

Software Infosys Technologies Ltd.

4.15 4.15

Fertilisers Tata Chemicals Ltd.

3.14 3.14

Auto Ancillaries Goodyear India Ltd.

2.69 2.69

Ferrous Metals Tata Steel Limited Welspun Gujarat Stahl Rohren Ltd.

2.23 1.31 0.92

Chemicals Solar Industries Ltd.

2.22 2.22

Power NTPC Ltd. Tata Power Company Ltd. Neyveli Lignite Corporation Ltd.

9.14 3.92 3.27 1.95

Industrial Capital Goods Bharat Electronics Ltd. Suzlon Energy Ltd. Bharat Heavy Electricals Ltd. Bharat Bijlee Ltd.

8.15 3.01 2.92 1.51 0.71

Pharmaceuticals Glaxosmithkline Pharmaceuticals Ltd. Dishman Pharmaceuticals & Chemicals Ltd.

6.38 5.38 1.00

Banks HDFC Bank Ltd. State Bank of India

5.95 3.03 2.93

Telecom-Services Reliance Communications Ltd. Bharti Airtel Ltd.

5.70 2.96 2.75

Finance HDFC Ltd.

1.59 1.59

Cement Jaiprakash Associates Ltd.

4.85 2.54

Media & Entertainment Zee Entertainment Enterprises Ltd.

1.55 1.55

Transportation 2.12 Mundra Port and Special Economic Zone Ltd 2.12

** Represents thinly traded/ non traded securities. # Indicates less than 0.01

*Name of scheme changed w.e.f June 23, 2008 erstwhile Birla Equity Plan

12

Since Inception

-30

Plans / Options & NAV (as on April 29, 2009) Dividend : 34.03 Growth

5 Years

-1.80

-6.44

Investment Period

(Payout, Reinvestment & Sweep)

12.63

-20

-50

: : : :

15.06

3 Years

1 Year

-10

-40

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

15.44

10

Issuer

% to Net Assets

Magnasound India Ltd. **

#

Auto Hero Honda Motors Ltd.

1.19 1.19

Gas Indraprastha Gas Ltd.

1.16 1.16

Construction Simplex Infrastructures Ltd.

0.98 0.98

Construction Project Larsen & Toubro Ltd.

0.81 0.81

Industrial Products TRF Ltd.

0.79 0.79

Retailing Pantaloon Retail (India) Ltd. -Class B

0.14 0.14

Cash & Cash Equivalents

6.74

Net receivables / payables

0.11

Total Net Assets

100.00

Birla Sun Life Index Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended index-linked growth scheme with the objective to generate returns commensurate with the performance of Nifty subject to tracking errors.

Large

Investment Performance

Mid Small 30

20.75

20

Fund Details

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ajay Garg October 01,2007 15 years September 18, 2002 An Open-ended Index Linked Growth Scheme

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 Working days

:

Available

:

Not Available

:

Not Available

Plans / Options & NAV (as on April 29, 2009) Dividend : 13.47

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

1 Year

0

21.51

14.10

13.43

10

3 Years -0.97

-10

-0.79

5 Years

Since Inception

-20 -30 -40

-33.30

-32.83

-50

Birla Sun Life Index Fund - Growth

S&P CNX Nifty

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Index Fund... Value (Rs.) of SIP in Investment Period

Returns (%)*

Total Investment (Rs.)

S&P CNX NIFTY

Birla Sun Life Index Fund

S&P CNX NIFTY

Birla Sun Life Index Fund

Since Inception

79000

125566

122661

13.90

Growth

:

34.82

Last 5 years

60000

71863

70533

7.17

6.42

Benchmark Average AUM

: :

S&P CNX NIFTY Rs. 30.43 Crores

Last 3 years

36000

32213

31894

-7.11

-7.74

Last 1 year

12000

11972

11991

-0.44

-0.14

Nil

Date of First Installment : October 1, 2002 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

(Payout, Reinvestment & Sweep)

Load Structure (Incl for SIP) Entry Load : Exit Load**

:

< Rs. 5 crores - 1% if redeemed / switched out within 15 days ³ Rs. 5 crores - Nil **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

32.70% -0.13 0.99

:

3.39

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

13.20

Portfolio & Asset Allocation Issuer

% to Net Assets

Petroleum Products Reliance Industries Ltd. Reliance Petroleum Ltd. Bharat Petroleum Corporation Ltd.

12.56 10.24 1.81 0.51

Power NTPC Ltd. Power Grid Corporation of India Ltd Reliance Power Ltd Tata Power Company Ltd. Reliance Infrastructure Ltd.

9.41 5.64 1.40 1.06 0.72 0.58

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd. Idea Cellular Ltd. Tata Communications Ltd.

7.96 5.15 1.60 0.65 0.56

Oil Oil & Natural Gas Corporation Ltd. Cairn India Ltd.

7.93 6.66 1.27

Banks State Bank of India ICICI Bank Ltd. HDFC Bank Ltd. Axis Bank Ltd. Punjab National Bank

7.80 2.93 1.92 1.69 0.73 0.54

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd.

7.37 3.11 2.20

Issuer

% to Net Assets

Issuer

% to Net Assets

Wipro Ltd. HCL Technologies Ltd.

1.74 0.31

Cipla Ltd. Ranbaxy Laboratories Ltd.

0.67 0.23

Industrial Capital Goods Bharat Heavy Electricals Ltd. Siemens Ltd. ABB Ltd. Suzlon Energy Ltd.

4.01 2.92 0.37 0.37 0.34

Construction Projects Larsen & Toubro Ltd.

1.85 1.85

Diversified Hindustan Unilever Ltd.

1.84 1.84

Consumer Non Durables ITC Ltd.

2.57 2.57

Auto Hero Honda Motors Ltd. Maruti Suzuki India Limited Mahindra & Mahindra Ltd. Tata Motors Ltd.

2.55 0.85 0.85 0.45 0.40

Construction DLF Ltd. Unitech Ltd.

1.67 1.41 0.26

Cement Grasim Industries Ltd. Ambuja Cements Ltd. ACC Ltd.

1.47 0.59 0.44 0.44

Finance Housing Development Finance Corp. Ltd Reliance Capital Ltd.

2.27 1.77 0.50

Gas GAIL (India) Ltd.

1.17 1.17

Ferrous Metals Steel Authority of India Ltd. Tata Steel Ltd.

2.25 1.62 0.63

Future and Options CNX Nifty Future May 09

Non-Ferrous Metals Sterlite Industries India Ltd. National Aluminium Company Ltd. Hindalco Industries Ltd.

1.87 1.05 0.49 0.33

Cash & Cash Equivalents

20.31

Net receivables / payables

-20.58

Total Net Assets

100.00

Pharmaceuticals Sun Pharmaceutical Industries Ltd.

1.86 0.95

21.88 21.88

13

Birla Sun Life New Millennium Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in technology and technology dependent companies, hardware, peripherals and components, software, telecom, media, internet and e-commerce and other technology enabled companies.

Investment Performance

Mid Small 20

Fund Details : : : : :

Mr. Atul Penkar September 12,2007 9 years January 15, 2000 An Open-ended Growth Scheme

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

1.15

3 Years

1 Year

0

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

12.16

11.13

10

5 Years

-10 -10.92

-20

Since Inception

-7.63

-3.70

-30 -40

-37.79 -43.18

-50 -60

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

:

Available

:

Available

Birla Sun Life New Millennium Fund - Growth

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life New Millennium Fund... Value (Rs.) of SIP in Investment Period

Plans / Options & NAV (as on April 29, 2009) Dividend : 8.81 (Payout, Reinvestment & Sweep)

Growth

:

11.12

Benchmark Average AUM

: :

BSE Teck Rs. 43.08 Crores

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

Since Inception Last 5 years

Total Investment (Rs.)

BSE Teck

Returns (%)*

Birla Sun Life New Millennium Fund

BSE Teck

Birla Sun Life New Millennium Fund

110000

160752

167429

8.07

8.92

60000

56758

53646

-2.19

-4.40

Last 3 years

36000

26690

25025

-18.57

-22.23

Last 1 year

12000

10969

10787

-15.73

-18.41

Date of First Installment : March 01, 2000 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

: : :

31.49% -0.45 0.96

Software

48.18

Reliance Communications Ltd.

6.81

Hardware

3.54

Infosys Technologies Ltd.

20.37

Idea Cellular Ltd.

5.06

Allied Digital Services Ltd.

3.54

Tata Consultancy Services Ltd.

8.37

:

0.88

Wipro Ltd.

3.60

Mphasis Ltd.

3.18

Media & Entertainment

9.84

Telecom-Equipment & Accessories

0.22

Infotech Enterprises Ltd.

2.78

Jagran Prakashan Ltd.

3.52

HCL Infosystems Ltd.

0.22

3i Infotech Ltd.

2.50

PVR Ltd.

1.62

Tech Mahindra Ltd.

1.94

Television Eighteen India Ltd.

1.45

Cash & Cash Equivalents

6.18

MindTree Ltd.

1.66

Zee Entertainment Enterprises Ltd.

1.23

Megasoft Ltd.

1.54

ETC Networks Ltd.

1.07

Core Projects & Technologies Ltd.

1.51

Net receivables / payables

0.59

Balaji Telefilms Ltd.

0.49

Subex Ltd.

0.72

Zee News Ltd.

0.25

HT Media Ltd.

0.21

Telecom-Services

31.45

Bharti Airtel Ltd.

19.58

Issuer

Magnasound India Ltd. **

** Represents thinly traded/ non traded securities and illiquid securities. # Indicates less than 0.01 Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

14

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

BSE Teck

% to Net Assets

#

Issuer

Total Net Assets

% to Net Assets

100.00

Birla Sun Life Top 100 Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective to provide medium to longterm capital appreciation, by investing predominantly in a diversified portfolio of equity and equity related securities of top 100 companies as measured by market capitalization.

Large

Investment Performance

Mid Small

20 11.55 7.95

10

Fund Details

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ajay Argal October 01,2007 15 years October 24, 2005 An Open-ended Growth Scheme

-0.79

Since Inception

-10 -20 -29.70

-32.83

-40

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Growth

:

13.09

Benchmark Average AUM

: :

S&P CNX NIFTY Rs. 264.48 Crores

Load Structure (Incl for SIP) Entry Load* : :

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Top 100 Fund...

Investment Period

< Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil

: : :

27.76% -0.24 0.82

:

1.42

S&P CNX NIFTY

Returns (%)*

Birla Sun Life Top 100 Fund

S&P CNX NIFTY

Birla Sun Life Top 100 Fund

Since Inception

42000

39443

37850

-3.49

-5.76

Last 3 years

36000

32213

31219

-7.11

-9.07

Last 1 year

12000

11972

11817

-0.44

-2.85

Portfolio & Asset Allocation Issuer Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Bharat Petroleum Corporation Ltd.

% to Net Assets 11.53 9.57 1.01 0.95

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd.

10.31 7.98 2.33

Banks ICICI Bank Ltd. HDFC Bank Ltd. Axis Bank Ltd. State Bank of India Canara Bank Bank of India

10.28 3.38 2.67 2.13 2.09 # #

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd.

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Value (Rs.) of SIP in

Total Investment (Rs.)

Date of First Installment : November 01, 2005 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil

*For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

S&P CNX Nifty

Birla Sun Life Top 100 Fund - Growth

(Payout, Reinvestment & Sweep)

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

-3.30

-30

Plans / Options & NAV (as on April 29, 2009) Dividend : 10.73

Exit Load**

3 Years

1 Year

0

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

Industrial Capital Goods Bharat Heavy Electricals Ltd. Bharat Electronics Ltd. BEML LIMITED Suzlon Energy Ltd. #

9.66 6.94 2.72 8.02 3.79 2.14 1.09 1.01

Issuer

% to Net Assets

Consumer Non Durables ITC Ltd. Nestle India Ltd.

6.15 3.90 2.26

Cement ACC Ltd. Ultratech Cement Ltd. Jaiprakash Associates Ltd.

5.10 2.29 1.80 1.01

Pharmaceuticals Sun Pharmaceutical Industries Ltd. Dr.Reddy's Laboratories Ltd.

4.99 2.55 2.44

Oil Oil & Natural Gas Corporation Ltd.

4.63 4.63

Power NTPC Ltd. Reliance Infrastructure Ltd.

3.68 1.95 1.73

Construction Project Larsen & Toubro Ltd. Punj Lloyd Ltd.

2.77 0.88 1.90

Fertilisers Chambal Fertilisers & Chemicals Ltd.

2.69 1.44

Issuer

% to Net Assets

Tata Chemicals Ltd.

1.25

Finance HDFC Ltd. Rural Electrification Corporation Ltd.

2.67 2.20 0.47

Auto Ancillaries Bosch Ltd.

2.19 2.19

Transportation The Great Eastern Shipping Company Ltd.

2.10 2.10

Diversified Hindustan Unilever Ltd.

1.96 1.96

Industrial Products Sintex Industries Ltd.

0.39 0.39

Non - Ferrous Metals Hindustan Zinc Ltd

0.33 0.33

Cash & Cash Equivalents

5.66

Net receivables / payables

4.88

Total Net Assets

100.00

Indicates less than 0.01

15

Birla Sun Life Buy India Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in businesses that are driven by India's large population and inherent consumption patterns. The focus of the scheme will be in the consumer and healthcare sectors.

Investment Performance

Mid Small

30 18.31

20

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ajay Garg September 12,2007 15 years January 15, 2000 An Open-ended Growth Scheme

% Returns

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

12.16

-5.83

-10

5 Years

-3.71

Since Inception

-20 -30

-29.32

-40

-38.00

-50

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Birla Sun Life Buy India Fund - Growth

Growth

:

21.26

Benchmark Average AUM

: :

BSE 200 Rs. 34.45 Crores

Load Structure (Incl for SIP) Entry Load* : :

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

: : :

29.07% -0.31 0.77

:

0.26

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

BSE 200

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Buy India Fund... Value (Rs.) of SIP in Investment Period

(Payout, Reinvestment & Sweep)

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

Total Investment (Rs.)

Since Inception

BSE 200

Returns (%)*

Birla Sun Life Buy India Fund

BSE 200

Birla Sun Life Buy India Fund

110000

223876

258749

14.95

Last 5 years

60000

66812

67655

4.26

4.76

Last 3 years

36000

30468

30370

-10.58

-10.78

Last 1 year

17.93

12000

11693

11787

-4.77

-3.32

Date of First Installment : March 01, 2000 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Issuer

% to Net Assets

Consumer Non Durables E.I.D. Parry (India) Ltd. Tata Tea Ltd. United Spirits Ltd. Radico Khaitan Ltd. ITC Ltd. Shaw Wallace & Company Ltd. United Breweries Holdings Ltd.

18.93 3.84 3.44 3.07 2.76 2.40 2.35 1.07

HDFC Bank Ltd.

1.40

Finance HDFC Ltd. India Infoline Ltd.

8.14 5.23 2.91

Auto Maruti Suzuki India Ltd.

7.24 7.24

Pharmaceuticals Glaxosmithkline Pharmaceuticals Ltd. Sun Pharmaceutical Industries Ltd. Aventis Pharma Ltd. Pfizer Ltd.

16.80 5.84 4.85 4.69 1.43

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd.

6.52 3.80 2.72

Pesticides Rallis India Ltd.

5.31 5.31

Banks State Bank of India ICICI Bank Ltd. Axis Bank Ltd. Kotak Mahindra Bank Ltd. ING Vysya Bank Ltd.

15.40 5.52 3.23 2.11 1.66 1.48

Gas Indraprastha Gas Ltd.

4.62 4.62

Issuer

4.51 1.97 1.28 1.25

Media & Entertainment Television Eighteen India Ltd. PVR Ltd. UTV Software Communications Ltd. Magnasound India Ltd. **

4.08 1.88 1.45 0.74 #

Transportation Jet Airways India Ltd.

1.48 1.48

Cash & Cash Equivalents

1.18

Net receivables / payables Total Net Assets

Auto Ancillaries Bosch Ltd.

% to Net Assets

Hotels Asian Hotels Ltd. Taj GVK Hotels & Resorts Ltd. Indian Hotels Co. Ltd.

4.58 4.58

** Represents thinly traded/ non traded securities and illiquid securities. # Indicates less than 0.01

# « « « « Value Research Rating

Birla Sun Life Buy India Fund Equity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

16

8.28

3 Years

1 Year

0

Plans / Options & NAV (as on April 29, 2009) Dividend : 14.93

Exit Load**

8.45

10

1.21 100.00

Birla Sun Life MNC Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective to achieve long-term growth of capital at relatively moderate levels of risk by making investments in securities of multi-national companies through a research based investment approach.

Large

Investment Performance

Mid Small 20

12.27

12.03

: : : : :

Mr. A.Balasubramaniam September 12, 2007 18 years December 27, 1999 An Open-ended Growth Scheme

4.67

0 5 Years -7.32

-10

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

-23.82

Birla Sun Life MNC Fund - Growth

Benchmark Average AUM

: : :

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

95.79 S & P CNX MNC Rs. 114.99 Crores

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

25.68% -0.41 0.85

:

0.15

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life MNC Fund... Value (Rs.) of SIP in Total Investment (Rs.)

Since Inception

S & P CNX MNC

Returns (%)*

Birla Sun Life MNC Fund

S & P CNX MNC

Birla Sun Life MNC Fund

112000

169763

226231

8.67

Last 5 years

60000

65595

64108

3.53

2.62

Last 3 years

36000

30428

31081

-10.66

-9.35

Last 1 year

14.51

12000

11761

12154

-3.72

2.43

Date of First Installment : January 01, 2000 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer Pharmaceuticals Pfizer Ltd.

% to Net Assets 18.77

Issuer

% to Net Assets

ICRA Ltd.

3.94

7.50

Glaxosmithkline Pharmaceuticals Ltd.

4.46

Auto Ancillaries

6.71

Fulford (India) Ltd.

3.48

Bosch Ltd.

4.57

Wyeth Ltd.

3.34

Wabco TVS India Ltd

0.96

Federal-Mogul Goetze (India) Ltd.

0.65

Sundaram-Clayton Ltd.

0.53

Consumer Non Durables Glaxosmithkline Consumer Healthcare Ltd.

17.54 6.98

Colgate-Palmolive (India) Ltd.

5.63

Banks

6.05

ITC Ltd.

2.87

ING Vysya Bank Ltd.

3.70

Kansai Nerolac Paints Ltd.

2.06

Yes Bank Ltd.

2.35

Industrial Capital Goods

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

S&P CNX MNC

Systematic Investment Plan (SIP)

Plans / Options & NAV (as on April 29, 2009) Dividend : 48.02 Growth

-9.29

-25.74

Investment Period

(Payout, Reinvestment & Sweep)

Since Inception

-20 -30

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

3 Years

1 Year

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

10.41

10

Fund Details

11.99

Areva T&D India Ltd.

3.23

Alstom Projects India Ltd.

2.76

Oil

2.42

Cairn India Ltd.

2.42

Diversified

1.98

Hindustan Unilever Ltd.

1.98

Construction

0.95

ITD Cementation India Ltd.

0.95

5.69 Cash & Cash Equivalents

3.47

Net receivables / payables

-0.11

2.57

Gas

4.99

Gujarat Gas Company Ltd.

4.99

Siemens Ltd.

1.59 Industrial Products

4.98

Cummins India Ltd.

4.01

FAG Bearings India Ltd.

0.97

6.50

4.13 4.13

5.69

1.85

10.44

Auto Maruti Suzuki India Ltd.

Bharti Airtel Ltd.

Honeywell Automation India Ltd.

CRISIL Ltd.

% to Net Assets

Telecom-Services

ABB Ltd.

Finance

Issuer

Total Net Assets

5-Star Award by ICRA

100.00

@

Birla Sun Life MNC Fund Open Ended Diversified Equity - Aggressive (51 Schemes), 1 year ended 31-Dec-08 (Past performance is no guarantee of future results.) for ranking methodology please refer page 48

17

Birla Sun Life India Opportunities Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

An open-ended growth scheme with the objective to achieve superior long-term growth of capital by investing in shares of companies that do one or more of the following: Leverage India's intellectual capital for providing services, research and creative inputs; Seek to use current and impending changes in patent laws / import tariffs / quotas to supply goods and services; Leverage India's lower labour costs for providing services and manufactured goods; Leverage India's large population of English speaking people for providing services.

Mid

Investment Performance Small 20

Fund Details : : : : :

Mr. Atul Penkar September 12, 2007 9 years December 27, 1999 An Open-ended Growth Scheme

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

-20

Plans / Options & NAV (as on April 29, 2009) Dividend : 11.62

Since Inception

-16.76

-30 -40

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

1.43 5 Years

-4.57

-10

8.86

4.47

3 Years

1 Year

0

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

12.05

10

-37.01 -45.99

-50

Birla Sun Life India Opportunities Fund - Growth

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

S&P CNX 500

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life India Opportunities Fund... Investment Period

Returns (%)*

Value (Rs.) of SIP in

Total Investment (Rs.)

S & P CNX 500

Birla Sun Life India Opportunities Fund

112000

225176

156623

14.42

7.01

60000

65871

46882

3.70

-9.66

(Payout, Reinvestment & Sweep)

S & P CNX 500

Birla Sun Life India Opportunities Fund

Growth

:

27.06

Benchmark Average AUM

: :

S & P CNX 500 Rs. 30.35 Crores

Last 5 years Last 3 years

36000

30397

23888

-10.73

-24.99

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil

Last 1 year

12000

11767

10865

-3.63

-17.26

Since Inception

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

Date of First Installment : January 01, 2000 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

: : :

30.94% -0.65 0.83

:

0.98

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

% to Net Assets

Software Infosys Technologies Ltd. Mphasis Ltd. Tata Consultancy Services Ltd. MindTree Ltd. Infotech Enterprises Ltd. Core Projects & Technologies Ltd. Tech Mahindra Ltd.

18.14 4.62 3.46 3.37 2.36 2.25 1.07 1.01

Industrial Capital Goods Honeywell Automation India Ltd. Bharat Heavy Electricals Ltd. AIA Engineering Ltd. Suzlon Energy Ltd. Golden Laminates Ltd. **

11.29 4.75 2.68 2.10 1.18 0.59

Petroleum Products Reliance Industries Ltd.

10.50 10.50

Pharmaceuticals Sun Pharmaceutical Industries Ltd. Dr.Reddys Laboratories Ltd. Aventis Pharma Ltd. Dishman Pharmaceuticals & Chemicals Ltd.

6.82 2.90 1.68 1.26 0.98

Non - Ferrous Metals Sterlite Industries (India) Ltd.

4.35 2.13

Issuer

% to Net Assets

Issuer

Hindalco Industries Ltd. Hindustan Zinc Ltd

1.25 0.97

Fertilisers Tata Chemicals Ltd.

1.50 1.50

Telecom-Services Reliance Communications Ltd.

3.73 3.73

Consumer Non Durables Marico Ltd. Terai Tea Company Ltd.**

0.67 0.64 0.04

Finance CRISIL Ltd.

2.92 2.92

Textile Products Raymond Ltd.

0.66 0.66

Power KEC International Ltd.

2.84 2.84

Construction TeleCanor Global Ltd.

0.30 0.30

Ferrous Metals Tata Steel Ltd. Welspun Gujarat Stahl Rohren Ltd.

2.77 1.84 0.93

Media & Entertainment Magnasound India Ltd. **

Industrial Products Cummins India Ltd.

2.19 2.19

Future and Options CNX Nifty Futures MAY 2009

Construction Project Voltas Ltd. Punj Lloyd Ltd.

3.81 2.02 1.79

Cash & Cash Equivalents

Hardware Allied Digital Services Ltd.

1.67 1.67

Net receivables / payables Total Net Assets

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 0.63%. # Indicates less than 0.01

18

% to Net Assets

# # 7.74 7.74 25.45 -7.35 100.00

Birla Sun Life Dividend Yield Plus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended growth scheme with the objective to provide capital growth and income by investing primarily in a well-diversified portfolio of dividend paying companies that have a relatively high dividend yield.

Large

Investment Performance

Mid 30

Small

24.92

22.48

20 12.05

11.39 10

Fund Details

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ankit Sancheti November 30,2007 8 years February 26, 2003 An Open-ended Growth Scheme

-2.69

-10

Since Inception

-21.66 -30 -40

-37.01

-50

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Birla Sun Life Dividend Yield Plus - Growth

Growth

:

39.51

Benchmark Average AUM

: :

S & P CNX 500 Rs. 197.89 Crores

Load Structure (Incl for SIP) Entry Load* : :

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issuedin Bonus & Dividend Reinvestment.

: : :

29.15% -0.20 0.75

:

0.67

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis using 3 years history of monthly returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Dividend Yield Plus...

CRISIL~CPR 2^^ Diversified Equity Schemes - Equity (69 Schemes), 5 Yrs ended 31-Mar-09

Returns (%)*

Value (Rs.) of SIP in Total Investment (Rs.)

S & P CNX 500

Birla Sun Life Dividend Yield Plus

S & P CNX 500

Birla Sun Life Dividend Yield Plus

Since Inception

74000

102064

104846

10.32

Last 5 years

60000

65871

67097

3.70

4.43

Last 3 years

36000

30397

33457

-10.73

-4.72

Last 1 year

11.19

12000

11767

12078

-3.63

1.22

Date of First Installment : March 01, 2003 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Issuer Assets

Consumer Non Durables 15.87 Glaxosmithkline Consumer Healthcare Ltd. 3.76 Colgate-Palmolive (India) Ltd. 3.12 E.I.D. Parry (India) Ltd. 2.20 Procter&Gamble Hygiene&Health Care Ltd. 1.69 Kansai Nerolac Paints Ltd. 1.58 Berger Paints India Ltd. 1.46 Shaw Wallace & Company Ltd. 0.95 Eveready Industries India Ltd. 0.77 Godrej Consumer Products Ltd. 0.35 Banks Andhra Bank Bank of Baroda Corporation Bank Indian Overseas Bank Union Bank of India South Indian Bank Ltd. Oriental Bank of Commerce Indian Bank

14.12 2.66 2.58 2.12 1.91 1.74 1.61 1.00 0.50

Pharmaceuticals Wyeth Ltd. Glaxosmithkline Pharmaceuticals Ltd. Pfizer Ltd.

11.27 5.08 4.31 1.87

Petroleum Products Hindustan Petroleum Corporation Ltd. Indian Oil Corporation Ltd. Bharat Petroleum Corporation Ltd.

10.05 3.75 3.34 2.95

Fertilisers Tata Chemicals Ltd.

Birla Sun Life Dividend Yield Plus

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

S & P CNX 500

Systematic Investment Plan (SIP)

Investment Period

(Payout, Reinvestment & Sweep)

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

5 Years

-4.57

-20

Plans / Options & NAV (as on April 29, 2009) Dividend : 8.87

Exit Load**

3 Years

1 Year 0

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

6.84 3.11

% to Net Assets

Chambal Fertilisers & Chemicals Ltd. Rashtriya Chemicals & Fertilizers Ltd. DCM Shriram Consolidated Ltd.

1.79 1.68 0.26

Oil Oil & Natural Gas Corporation Ltd.

6.42 6.42

Paper Tamil Nadu Newsprint & Papers Ltd. Ballarpur Industries Ltd.

4.39 2.70 1.69

Finance Rural Electrification Corporation Ltd. Power Finance Corporation Ltd

4.01 3.48 0.53

Power KEC International Ltd. Neyveli Lignite Corporation Ltd. Gujarat Industries Power Co. Ltd.

3.81 2.19 0.93 0.69

Transportation Great Eastern Shipping Company Ltd. Gateway Distriparks Ltd.

2.14 1.25 0.88

Gas Indraprastha Gas Ltd.

2.06 2.06

Cement ACC Ltd. Kesoram Industries Ltd.

1.91 1.10 0.81

Industrial Products Cosmo Films Ltd.

1.88 1.41

« « « « Value Research Rating#

Issuer

% to Net Assets

Kirloskar Brothers Ltd. Cummins India Ltd.

0.27 0.20

Industrial Capital Goods Apar Industries Ltd. Elecon Engineering Ltd.

1.69 1.54 0.15

Diversified Hindustan Unilever Ltd.

1.63 1.63

Ferrous Metals PSL Ltd.

1.27 1.27

Software 3i Infotech Ltd.

1.06 1.06

Auto Ancillaries Goodyear India Ltd.

0.60 0.60

Minerals/Mining Nava Bharat Ventures Ltd.

0.25 0.25

Trading Salora International Ltd.

0.13 0.13

Cash & Cash Equivalents

8.66

Net receivables / payables

-0.03

Total Net Assets

100.00

5-Star Award by ICRA@

Birla Sun Life Dividend Yield Plus

Birla Sun Life Dividend Yield Plus

Equity Diversified (142 Schemes), for 3 & 5 Years periods ending 30-Apr-09

Open Ended Diversified Equity - Aggressive (51 Schemes), 1 year ended 31-Dec-08

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

19

Birla Sun Life International Equity Fund - Plan A

M a y 2 0 0 9

As on April 30, 2009

Fund Details Fund Manager

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Mr. Mahesh Patil & Mr. Vineet Maloo Since allotment 16 years / 4 years October 31, 2007 An Open-ended Diversified Equity Scheme

Investment Objective An open-ended diversified equity scheme with an objective to generate long-term growth of capital, by investing predominantly in a diversified portfolio of equity and equity related securities in the international markets.

Investment Performance 1 Year

Since Inception

0

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

-10

% Returns

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

-20

-26.69

-30

-27.46

-27.74

-32.97 -40

S&P Global 1200

Birla Sun Life International Equity Fund Plan A - Growth

Plans / Options & NAV (as on April 29, 2009) Dividend : 7.25

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

(Payout, Reinvestment & Sweep)

Growth

:

7.25

Benchmark Average AUM

: :

S&P Global 1200 Rs. 138.91 Crores

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 2.50% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

20.55% -1.46 0.70

:

0.30

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life International Equity Fund - Plan A...

Investment Period

Total Investment (Rs.)

S&P Global 1200

Birla Sun Life International Equity Fund - Plan A

Since Inception

17000

14520

14452

-19.60

-20.13

12000

10831

10701

-17.75

-19.66

Date of First Installment : December 01, 2007 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer

% to Net Assets

Issuer

% to Net Assets

Issuer

% to Net Assets

78.64

Roche Holdings AG

2.45

E.On Ag

1.47

4.14

Wharf Holdings Ltd.

2.43

Iberdrola S.A.

1.41

Taiwan Semiconductor Manu Comp Ltd. (ADR)4.12

China Mobile Ltd.

2.43

Fortum Oyj

1.34

2.37

China Oilfield Services Ltd.

1.32

Cheung Kong Infrastructure Holdings Ltd.

20

Birla Sun Life International Equity Fund - Plan A

Last 1 year

Foreign Equity

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis. The fund has completed 1 year but yet to complete 3 years since its inception so the ratio is calculated on the basis of historical 1 year returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Returns (%)*

Value (Rs.) of SIP in S&P Global 1200

Teva Pharmaceutical Industries Ltd. (ADR)

3.88

Akzo Nobel N.V.

Nestle S.A.

3.88

Wal-MartStoresInc.

2.26

Jiangsu Expressway Company Ltd.

1.19

The Coca Cola Company

3.88

Unibanco - Uniao de Bancos Brasileiros S.A. (ADR) 2.21

Renewable Energy Corporation AS

1.19

Pride International Inc.

3.67

Oracle Corporation

2.14

Vimpel-Communications (ADR)

0.96

MTR Corporation Ltd.

3.33

Microsoft Corporation

2.08

StatoilHydro ASA

3.22

Noble Corporation

2.05

Procter & Gamble

3.11

Indu and Comm Bank of China (Asia) Ltd.

2.01

Bayer AG

3.08

Aetna Inc.

1.75

Northrop Grumman Corporation

3.06

Exxon Mobil Corporation

1.74

China Construction Bank Corporation

3.01

Chubb Corporation

1.47

Cash & Cash Equivalents

19.51

Net receivables / payables

1.85

Total Net Assets

100.00

Birla Sun Life International Equity Fund - Plan B

M a y 2 0 0 9

As on April 30, 2009

Fund Details Fund Manager

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Investment Objective An open-ended diversified equity scheme with an objective to generate long-term growth of capital, by investing predominantly in a diversified portfolio of equity and equity related securities in the domestic and international markets.

Investment Performance Since Inception

1 Year

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

0 -10

% Returns

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

Mr. Mahesh Patil & Mr. Vineet Maloo Since inception 16 years / 4 years October 31, 2007 An Open-ended Diversified Equity Scheme

-20 -30 -33.35

-32.66 -40

-40.41

-50

Plans / Options & NAV (as on April 29, 2009) Dividend : 5.96

-39.57

+ A customized benchmark created using BSE 200 to the extent of 65% of portfolio and S&P Global 1200 to the extent of 35% of Portfolio.

Birla Sun Life International Equity Fund Plan B - Growth

Customized Index+

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

(Payout, Reinvestment & Sweep)

Growth

:

5.96

Benchmark Average AUM

: :

Customised Index† Rs. 437.95 Crores

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life International Equity Fund - Plan B...

†A customized benchmark created using BSE 200 to the extent of 65% of portfolio and S&P Global 1200 to the extent of 35% of portfolio.

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 2.50% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

30.05% -1.20 0.77

:

1.89

Investment Period

Customised Index†

Birla Sun Life International Equity Fund - Plan B

Customised Index†

Birla Sun Life International Equity Fund - Plan B

Since Inception

17000

14779

14405

-17.56

-20.50

Last 1 year

12000

11511

11255

-7.56

-11.44

Date of First Installment : December 01, 2007 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return) †A customized benchmark created using BSE 200 to the extent of 65% of portfolio and S&P Global 1200 to the extent of 35% of portfolio.

Portfolio & Asset Allocation Issuer

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis.The fund has completed 1 year but yet to complete 3 years since its inception so the ratio is calculated on the basis of historical 1 year returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Returns (%)*

Value (Rs.) of SIP in Total Investment (Rs.)

% to Net Assets

Foreign Equity 22.74 Taiwan Semiconductor Manu Comp Ltd. (ADR)1.17 Nestle S.A. 1.04 The Coca Cola Company 1.04 Cheung Kong Infrastructure Holdings Ltd. 1.00 Pride International Inc. 0.98 MTR Corporation Ltd. 0.89 Teva Pharmaceutical Industries Ltd. (ADR) 0.87 Procter & Gamble 0.87 StatoilHydro ASA 0.86 Wharf Holdings Ltd. 0.84 Bayer AG 0.82 Roche Holdings AG 0.82 Northrop Grumman Corporation 0.82 China Construction Bank Corporation 0.80 Akzo Nobel N.V. 0.80 Unibanco-UniaodeBancosBrasileirosS.A.(ADR)0.76 Oracle Corporation 0.73 Microsoft Corporation 0.71 Noble Corporation 0.70 Industrial and Comm Bank of China (Asia) Ltd. 0.69 China Mobile Ltd. 0.65 Aetna Inc. 0.61 Wal-Mart Stores Inc. 0.60 Exxon Mobil Corporation 0.58 Chubb Corporation 0.46 China Oilfield Services Ltd. 0.45 Renewable Energy Corporation AS 0.42 E.On Ag 0.39 Iberdrola S.A. 0.38 Fortum Oyj 0.36 Vimpel-Communications (ADR) 0.32 Jiangsu Expressway Company Ltd. 0.32 Banks HDFC Bank Ltd. ICICI Bank Ltd.

12.08 2.70 2.69

Issuer Axis Bank Ltd. State Bank of India Union Bank of India ING Vysya Bank Ltd. Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Hindustan Petroleum Corporation Ltd.

% to Net Issuer Assets 2.10 2.09 1.31 1.19 10.78 9.11 1.05 0.61

Consumer Non Durables ITC Ltd. Colgate-Palmolive (India) Ltd. United Spirits Ltd. United Breweries Holdings Ltd.

7.29 2.93 2.47 1.13 0.76

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd.

7.10 5.79 1.31

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd.

6.87 4.72 2.15

Power Reliance Infrastructure Ltd. Tata Power Company Ltd. NTPC Ltd.

4.90 2.21 1.43 1.27

Finance HDFC Ltd. ICRA Ltd.

4.62 2.89 1.73

Oil Oil & Natural Gas Corporation Ltd.

4.03 4.03

Construction Project Larsen & Toubro Ltd.

3.32 2.59

% to Net Assets

Punj Lloyd Ltd.

0.73

Pharmaceuticals Dr.Reddys Laboratories Ltd. Sun Pharmaceutical Industries Ltd.

2.40 1.92 0.48

Cement Grasim Industries Ltd. Century Textiles and Industries Ltd

2.31 1.38 0.93

Construction Unitech Ltd. D.S. Kulkarni Developers Ltd.

1.10 0.78 0.32

Industrial Capital Goods Bharat Heavy Electricals Ltd. Bharat Electronics Ltd.

1.68 1.40 0.28

Non - Ferrous Metals Sterlite Industries (India) Ltd.

1.02 1.02

Fertilisers Tata Chemicals Ltd.

0.95 0.95

Auto Maruti Suzuki India Ltd.

0.74 0.74

Ferrous Metals Tata Steel Limited

0.71 0.71

Cash & Cash Equivalents

4.32

Net receivables / payables

1.03

Total Net Assets

100.00

21

Birla Sun Life Special Situations Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

An open-ended diversified equity scheme with an objective of the scheme is to generate long-term growth of capital by investing in a portfolio of equity and equity related securities. The Scheme would follow an investment strategy that would take advantage of Special Situations & Contrarian investment style.

Investment Performance

Mid Small 1 Year

Since Inception

0

Fund Details :

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

Mr. A.Balasubramaniam & Mr. Sanjay Chawla September 02, 2008 18 years / 13 years January 31, 2008 An Open-ended Diversified Equity Scheme

-10

% Returns

Fund Manager

-20 -30 -36.94

-40

-38.00

-40.32

-50

BSE 200

Birla Sun Life Special Situations Fund - Growth

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 business days

:

Available

:

Available

:

Available

-40.92

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Systematic Investment Plan (SIP) SIP is a powerful tool that can help you create wealth over time. If you had invested in Birla Sun Life Special Situations Fund...

Investment Period

Returns (%)*

Value (Rs.) of SIP in

Total Investment (Rs.)

BSE 200

Birla Sun Life Special Situations Fund

BSE 200

Birla Sun Life Special Situations Fund

Plans / Options & NAV (as on April 29, 2009) Dividend : 6.01

Since Inception

13000

12387

12123

-8.13

-11.57

(Payout, Reinvestment & Sweep)

Last 1 year

12000

11693

11423

-4.77

-8.90

Growth

:

6.01

Benchmark Average AUM

: :

BSE 200 Rs. 430.40 Crores

Load Structure (Incl for SIP) Entry Load* : Exit Load**

:

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

40.16% -1.00 0.83

:

1.58

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis. The fund has completed 1 year but yet to complete 3 years since its inception so the ratio is calculated on the basis of historical 1 year returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

22

Date of First Installment : April 01, 2008 The data assumes the investment of Rs.1,000/- on 1st day of every month or the subsequent working day. Load and Taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return)

Portfolio & Asset Allocation Issuer Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd. Bharat Petroleum Corporation Ltd. Reliance Petroleum Ltd.

% to Net Assets 13.54 6.44 3.47 2.38 1.25

Banks State Bank of India HDFC Bank Ltd. ICICI Bank Ltd. Bank of Baroda

9.91 3.71 3.07 2.13 0.99

Consumer Non Durables ITC Ltd. Shaw Wallace & Company Ltd. Balrampur Chini Mills Ltd. United Spirits Ltd. Dabur India Ltd.

9.55 4.22 1.99 1.25 1.10 0.99

Pharmaceuticals Lupin Ltd. Sun Pharmaceutical Industries Ltd. Novartis India Ltd. Ranbaxy Laboratories Ltd.

7.28 2.51 2.28 1.34 1.14

Power Reliance Infrastructure Ltd. NTPC Ltd. Tata Power Company Ltd.

5.35 2.33 2.02 1.00

Issuer

% to Net Assets

Software Infosys Technologies Ltd. Core Projects & Technologies Ltd.

5.11 3.37 1.74

Cement Century Textiles and Industries Ltd ACC Ltd. Ambuja Cements Ltd.

4.90 2.57 1.24 1.08

Industrial Capital Goods Bharat Heavy Electricals Ltd. Suzlon Energy Ltd. Crompton Greaves Ltd.

4.85 1.85 1.71 1.30

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd.

4.43 2.51 1.92

Fertilisers Tata Chemicals Ltd.

4.01 4.01

Finance HDFC Ltd. Reliance Capital Ltd.

2.72 1.55 1.17

Construction Project Larsen & Toubro Ltd.

2.46 2.46

Industrial Products Sintex Industries Ltd.

1.96 1.96

Issuer

% to Net Assets

Diversified Aditya Birla Nuvo Ltd.

1.18 1.18

Chemicals Solar Industries Ltd.

1.17 1.17

Paper Ballarpur Industries Ltd.

1.17 1.17

Auto Tata Motors Ltd.

1.08 1.08

Construction Unitech Ltd. Indiabulls Real Estate Ltd.

1.85 0.99 0.86

Textile Products Raymond Ltd.

0.97 0.97

Media & Entertainment Balaji Telefilms Ltd.

0.95 0.95

Cash & Cash Equivalents

5.54

Net receivables / payables

10.02

Total Net Assets

100.00

Birla Sun Life Commodity Equities Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Objective

Fund Details Fund Manager

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option

Retail Plan Fresh Purchase Additional Purchase Institutional Plan Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

Mr. Ankit Sancheti and Mr. Vineet Maloo Since Inception 8 years / 4 Years November 07, 2008 An Open-ended Growth Scheme

An Open ended Growth Scheme with the objective to offer long term growth of capital, by investing in (1) stocks of commodity companies, i.e., companies engaged in or focusing on the specified commodity business and/or (2) overseas mutual fund scheme(s), that have similar investment objectives. These securities could be issued in India or overseas.

Investment Performance

Investment Performance

(Global Agri Plan)

(Global Multi commodity Plan)

: :

Default Plan: Retail Plan Default Option: Growth Default Facility: Dividend Reinvestment Rs. 5000/Rs. 1000/-

(Global Precious Metals Plan)

10

30

:

Investment Performance 70

26.36 25

50 20

5.66

6

40

15

30 4

20

10 2.21

: : :

Rs. 5,00,00,000/Rs. 10000/Within 10 working days

:

Available

:

Available

:

Available

66.30

60

8

23.33

5 0

10

2

0 0

Birla Sun Life Commodity Equities Fund Global Agri Plan Retail - Growth

Global Agri business index

Birla Sun Life Commodity Equities Fund Global Multi commodity - Growth

-2.87

-10

Since Inception

Since Inception

Since Inception

Birla Sun Life Commodity Equities Fund Global Precious Metal - Growth

MSCI World index

Dow Jones Precious Metal Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year.

Portfolio & Asset Allocation (Global Agri Plan)

Plans / Options & NAV (as on April 29, 2009) Global Agri Plan Retail Plan Dividend : 12.39 (Payout, Reinvestment & Sweep)

Growth : Global Multi Commodity Plan Retail Plan Dividend :

12.39

10.26

(Payout, Reinvestment & Sweep)

Growth : Global Precious Metals Plan Retail Plan Dividend :

10.26

9.75

Issuer

% to Net Assets

Foreign Equity Potash Corporation of Saskatchewan Monsaic Monsanto Company Agrium Inc. Syngenta AG Deere & Company CF Industries Holdings Inc. FMC Corporation Quimica Y Minera De Chil Sp Yara International Terra Industries Inc Nobel Group Company Ltd.

85.47 9.19 6.09 5.69 5.42 5.39 5.28 5.12 4.60 4.37 4.32 4.24 4.09

Issuer

% to Net Assets

Wilmar International Ltd Agco Corp K+S AG Viterra Inc. Bunge Ltd. GEA Group AG Namhae Chemical Corp

3.80 3.78 3.77 3.43 3.42 3.03 0.43

Cash & Cash Equivalents

37.88

Net receivables / payables

-23.36

Total Net Assets

100.00

(Payout, Reinvestment & Sweep)

Growth

:

9.75

Benchmark (for all plans)

:

Global Agri business index MSCI World index Dow Jones Precious Metals Index

Average AUM Global Agri Plan : Global Multi Commodity Plan : Global Precious Metals Plan : Load Structure (Incl for SIP) Entry Load* :

Exit Load**

:

Rs. 1.62 Crores Rs. 5.13 Crores Rs. 2.09 Crores

< Rs. 3 cr - 2.50% ³ Rs. 3 cr but < Rs. 5 cr - 1.00% ³ Rs. 5 cr - Nil < Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Standard Deviation Sharpe Ratio## Alpha* Beta Annual Portfolio Turnover ratio Glbal Agri Plan Global Multi commodity Plan Global Precious Metals Plan

: : : :

NA NA NA NA

: : :

0.32 0.22 0.22

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis. The fund has not yet completed one year since its inception so the ratios could not be calculated, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Portfolio & Asset Allocation (Global Multi commodity Plan) Issuer

% to Net Assets

Foreign Equity 93.51 Goldcorp Inc. 5.47 Chevron Corporation 4.63 Transocean Inc. 3.50 Harmony Gold Mining Company Ltd. (ADR) 3.28 Petroleo Brasileiro 3.25 Hess Corp 3.15 Diamond Offshore Drilling Inc 3.04 Total S.A. 3.00 Newmont Mining Corporation 2.98 Barrick Gold Corporation 2.93 XTO Energy Inc 2.79 Royal Dutch Shell PLC 2.74 Peter Hambro Mining 2.41 Agnico-Eagle Mines Ltd. 2.34 Kinross Gold Corporation 2.32 Apache Corporation 2.28 Eni S.p.A 2.25 Gold Fields Ltd. 2.11

Issuer

% to Net Assets

Anglo American PLC Iamgold Corporation Yamana Gold Inc. Royal Gold Inc Potash Corporation of Saskatchewan Deere & Company Syngenta AG Xstrata PLC CF Industries Holdings Inc. Nalco Holding Company Uralkali-Spon (GDR) Monsanto Company Teck Cominco Ltd. Monsaic Halliburton Company Israel Chemicals Ltd. National Oilwell Varco Freeport McMoRan Copper & Gold Inc. Agrium Inc.

2.00 1.94 1.92 1.85 1.78 1.65 1.64 1.50 1.30 1.29 1.28 1.28 1.23 1.23 1.15 1.14 1.12 1.12 1.11

Issuer

% to Net Assets

ITT Corporation Pentair Inc. Veolia Environnement Geberit AG United Utilities Group PLC IDEX Corporation Severn Trent PLC Cia Vale do Rio Doce K+S AG BHP Billiton Ltd. Nippon Steel Corporation United States Steel Intrepid Potash Inc. Gerdau S.A.

1.10 1.07 1.06 1.05 0.94 0.92 0.92 0.89 0.86 0.83 0.65 0.47 0.47 0.27

Cash & Cash Equivalents

15.56

Net receivables / payables Total Net Assets

-9.07 100.00

Portfolio & Asset Allocation (Global Precious Metals Plan) Issuer Foreign Equity Goldcorp Inc. Newmont Mining Corporation Peter Hambro Mining PLC Harmony Gold Mining Company Ltd. (ADR) Barrick Gold Corporation Gold Fields Ltd. (ADR) AngloGold Ashanti Ltd. (ADR) Kinross Gold Corporation Agnico-Eagle Mines Ltd. Yamana Gold Inc. IAMGOLD Corporation Randgold Resources Ltd. (ADR) Royal Gold Inc.

% to Net Assets 94.31 11.61 6.12 5.71 5.45 5.39 5.09 4.63 4.60 4.55 4.40 4.38 4.35 4.33

Issuer Lihir Gold Ltd. Eldorado Gold Corporation Newcrest Mining Ltd. Compania de Minas Buenaventura (ADR) Silver Wheaton Corporation Pan American Silver Corporation Anglo American PLC

% to Net Assets 4.29 4.12 4.00 3.97 3.64 3.63 0.05

Cash & Cash Equivalents

9.93

Net receivables / payables

-4.23

Total Net Assets

100.00

23

Birla Sun Life Long Term Advantage Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

A 5 years close ended scheme with automatic conversion to an open ended scheme upon maturity with the objective to provide longterm capital appreciation by investing predominantly in a diversified portfolio of equity and equity related securities.

Large

Investment Performance

Mid Small

1 Year

0

-5.00

Fund Details

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ajay Argal Since inception 15 years October 10, 2006 A 5 Years Close-ended Scheme

-10

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

-9.91

-20

-30 -34.11

-34.49 -40

: : : :

NA NA NA NA

:

NA

:

NA

:

NA

Plans / Options & NAV (as on April 29, 2009) Dividend : 7.76 (Payout & Reinvestment)

Issuer

% to Net Assets

Bharat Electronics Ltd.

3.08

Pesticides

6.18

Gujarat Apollo Industries Ltd.

1.53

Rallis India Ltd.

4.48

Industrial Products

1.82

McNally Bharat Engineering Company Ltd.

0.68

United Phosphorus Ltd.

1.70

FAG Bearings India Ltd.

1.82

Manugraph India Ltd.

0.25

Telecom-Services

9.21

Bharti Airtel Ltd.

6.85

Load Structure Entry Load

Reliance Communications Ltd.

2.36

:

NA

Exit Load

:

Nil

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis.The fund has completed 1 year but yet to complete 3 years since its inception so the ratio is calculated on the basis of historical 1 year returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

24

% to Net Assets

9.39

BSE Sensex Rs. 218.49 Crores

0.31

2.11

Issuer

3.85

7.76

:

Colgate-Palmolive (India) Ltd.

% to Net Assets

Bharat Heavy Electricals Ltd.

: :

35.76% -1.05 0.80

Issuer

Industrial Capital Goods

:

: : :

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation

Benchmark Average AUM

Investors offering units for repurchase before maturity of the scheme / conversion of scheme into open ended scheme will be charged balance proportionate unamortized issue expenses on the applicable NAV.

BSE Sensex

Birla Sun Life Long Term Advantage Fund - Growth

Growth

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

Since Inception

Banks

8.46

ICICI Bank Ltd.

2.64

Axis Bank Ltd.

2.02

HDFC Bank Ltd.

1.95

Oriental Bank of Commerce

1.84

Software

8.44

Infosys Technologies Ltd.

5.27

Tata Consultancy Services Ltd.

2.76

Subex Ltd.

0.41

Engineering

1.93

Engineers India Ltd.

1.93

Oil

5.06

Construction Project

1.32

Oil & Natural Gas Corporation Ltd.

5.06

Larsen & Toubro Ltd.

1.32

Pharmaceuticals

4.48

Sun Pharmaceutical Industries Ltd.

2.43

Dr.Reddys Laboratories Ltd.

2.05

Power

4.13

CESC Ltd.

1.60

Reliance Infrastructure Ltd.

1.16

KEC International Ltd.

1.14

Jyoti Structures Ltd.

0.23

Fertilisers

1.28

Chambal Fertilisers & Chemicals Ltd.

1.28

Media & Entertainment

1.06

PVR Ltd.

0.69

Balaji Telefilms Ltd.

0.37

Cement

0.43

Madras Cements Ltd.

0.43

Construction

2.47

Nagarjuna Construction Company Ltd.

1.64

Gas

0.32

JMC Projects (India) Ltd

0.48

Gujarat State Petronet Ltd.

0.32

ITD Cementation India Ltd.

0.35 Cash & Cash Equivalents

2.68

5.27

Petroleum Products

7.80

Reliance Industries Ltd.

7.80

Auto Ancillaries

7.10

Finance

2.45

HDFC Ltd.

2.45

Net receivables / payables

Total Net Assets

Bosch Ltd.

3.63

Exide Industries Ltd.

3.48 Ferrous Metals

2.06

Consumer Non Durables

6.67

Tata Steel Limited ( CCPS )

1.28

ITC Ltd.

4.56

Maharashtra Seamless Ltd.

0.78

100.00

Birla Sun Life Long Term Advantage Fund Series - I

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

A Closed-end Small and Mid Cap Equity Scheme with a maturity of 3 years. Upon maturity, the scheme shall automatically be converted into an Open-ended scheme. It seeks to generate consistent long-term capital appreciation by investing predominantly in equity and equity related securities of companies considered to be small and mid cap. The Scheme may also invest a certain portion of its corpus in fixed income securities including money market instruments, in order to meet liquidity requirements from time to time.

Mid

Investment Performance

Small

Fund Details : : : : :

Mr. Ankit Sancheti September 2, 2008 8 years May 31, 2007 A Closed-ended Small and Mid Cap Equity Scheme

1 Year

-14.96

-20 -30

-27.18

-40

-39.95 -45.13

-50

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : :

NA NA NA NA

:

NA

:

NA

:

NA

Plans / Options & NAV (as on April 29, 2009) Dividend : 5.45 (Payout & Reinvestment)

Growth

:

5.45

Benchmark Average AUM

: :

BSE 500 Rs. 161.47 Crores

Load Structure Entry Load

:

NA

Exit Load

:

Nil Investors offering units for repurchase before maturity of the scheme / conversion of scheme into open ended scheme will be charged balance proportionate unamortized issue expenses on the applicable NAV.

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

: : :

39.75% -1.22 0.80

:

0.51

Since Inception

0 -10

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

-60

Birla Sun Life Long Term Advantage Fund Series I - Growth

BSE 500

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio Asset Allocation Issuer

% to Net Assets

Industrial Capital Goods Bharat Electronics Ltd. Crompton Greaves Ltd. Apar Industries Ltd. Hindustan Dorr Oliver Ltd. Honeywell Automation India Ltd. BEML Ltd.

12.67 4.40 2.48 2.45 1.42 1.02 0.90

Banks ING Vysya Bank Ltd. Indian Bank South Indian Bank Ltd. Oriental Bank of Commerce City Union Bank Ltd. Bank of Maharashtra

12.21 3.10 2.51 2.47 1.81 1.75 0.56

Consumer Non Durables Glaxosmithkline Consumer Healthcare Ltd. Radico Khaitan Ltd. Mcleod Russel India Ltd. Shaw Wallace & Company Ltd. Eveready Industries India Ltd. Millennium Beer Industries Ltd.**

12.13 6.74 1.61 1.42 1.35 1.01 #

Construction IVRCL Infrastructures & Projects Ltd. Nagarjuna Construction Company Ltd. Gammon India Ltd. JMC Projects (India) Ltd HSIL Limited ITD Cementation India Ltd.

9.35 3.11 1.83 1.51 1.27 1.14 0.49

Industrial Products Jain Irrigation Systems Ltd. The Paper Products Ltd. Sintex Industries Ltd. Greaves Cotton Ltd.

7.91 4.42 1.54 1.06 0.90

Issuer

% to Net Assets

Issuer

% to Net Assets

Power CESC Ltd. Jyoti Structures Ltd. GVK Power & Infrastructure Ltd.

6.24 2.29 2.27 1.68

Media & Entertainment Balaji Telefilms Ltd. PVR Ltd. Jagran Prakashan Ltd.

1.34 0.76 0.54 0.04

Pharmaceuticals Pfizer Ltd. Dishman Pharmaceuticals & Chemicals Ltd.

4.67 3.43 1.24

Retailing Trent Ltd.

1.28 1.28

Auto Ancillaries Exide Industries Ltd. Wabco TVS India Ltd Sundaram-Clayton Ltd.

3.49 1.41 1.37 0.71

Paper Ballarpur Industries Ltd.

1.11 1.11

Software Geometric Ltd. Infotech Enterprises Ltd.

0.90 0.70 0.20

Fertilisers Tata Chemicals Ltd. Aries Agro Ltd. Zuari Industries Ltd DCM Shriram Consolidated Ltd.

2.89 1.41 0.67 0.47 0.33

Diversified Aditya Birla Nuvo Ltd. McDowell Holdings Ltd.

0.81 0.64 0.18

Petroleum Products Bharat Petroleum Corporation Ltd. Hindustan Petroleum Corporation Ltd.

2.63 1.33 1.30

Hotels Taj GVK Hotels & Resorts Ltd.

0.72 0.72

Ferrous Metals Maharashtra Seamless Ltd.

0.71 0.71

Finance ICRA Ltd.

2.02 2.02

Textile Products Raymond Ltd.

0.61 0.61

Cement Ultratech Cement Ltd. Shree Cements Ltd.

1.56 1.41 0.15

Chemicals Micro Inks Ltd.

1.55 1.55

Oil Great Offshore Ltd. Aban Offshore Ltd.

1.44 1.07 0.37

Cash & Cash Equivalents

7.45

Net receivables / payables

4.30

Total Net Assets

100.00

** Represents thinly traded/ non traded securities. # Indicates less than 0.01

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis. The fund has completed 1 year but yet to complete 3 years since its inception so the ratio is calculated on the basis of historical 1 year returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

25

Birla Sun Life Pure Value Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size Large

A Closed-end Diversified Equity Scheme with a maturity of 3 years. Upon maturity, the scheme shall automatically be converted into an open ended scheme. It seeks to generate consistent long term capital appreciation by investing predominantly in equity and equity related securities by following value investing strategy.

Investment Performance

Mid Small

1 Year

Since Inception

0 -10

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme Equity Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Ajay Argal Since inception 13 years March 27, 2008 A Close-ended Diversified Scheme

: : : :

NA NA NA NA

:

NA

-17.66

-19.95

-30 -31.60 -40

-38.00

:

NA NA

Growth

:

8.23

Benchmark Average AUM

: :

BSE 200 Rs. 83.70 Crores

Load Structure Entry Load

:

NA

Exit Load

:

Nil Investors offering units for repurchase before maturity of the scheme / conversion of scheme into open ended scheme will be charged balance proportionate unamortized issue expenses on the applicable NAV.

: : : :

30.62% -0.76 0.63 0.44

Note: Standard Deviation, Sharpe Ratio & Beta are calculated on Annualised basis. The fund has completed 1 year but yet to complete 3 years since its inception so the ratio is calculated on the basis of historical 1 year returns, source: MFI Explorer ##Risk-free rate assumed to be 3.28%(91 day T-bill yield as on April 29, 2009)

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation

Petroleum Products

:

BSE 200

Birla Sun Life Pure Value Fund - Growth

Issuer

(Payout & Reinvestment)

26

-20

-50

Plans / Options & NAV (as on April 29, 2009) Dividend : 8.23

Other Parameter Standard Deviation Sharpe Ratio## Beta Annual Portfolio Turnover ratio

% Returns

Fund Details

% to Net Assets 10.59

Issuer Bharati Shipyard Ltd.

% to Net Assets 1.91

Issuer

% to Net Assets

Transportation

2.40

Great Eastern Shipping Company Ltd.

2.40

Bharat Petroleum Corporation Ltd.

3.66

Hindustan Petroleum Corporation Ltd.

3.57

Power

5.54

Indian Oil Corporation Ltd.

3.36

Jyoti Structures Ltd.

2.28

Pesticides

2.29

Reliance Infrastructure Ltd.

2.11

United Phosphorus Ltd.

1.74

PTC India Ltd

1.16

Rallis India Ltd.

0.55

Banks

9.73

State Bank of India

1.49

Bank of Baroda

1.45

Software

5.47

Auto Ancillaries

2.13

Oriental Bank of Commerce

1.33

Tata Consultancy Services Ltd.

2.84

Apollo Tyres Ltd.

2.13

ICICI Bank Ltd.

1.17

Infosys Technologies Ltd.

2.64

Bank of India

1.16

Industrial Products

2.07

Punjab National Bank

1.12

Consumer Non Durables

4.98

FAG Bearings India Ltd.

1.40

Union Bank of India

1.11

Glaxosmithkline Consumer Healthcare Ltd.

4.97

Finolex Cables Ltd.

0.67

Andhra Bank

0.91

Zydus Wellness Ltd.

0.01

Pharmaceuticals

7.63

Non - Ferrous Metals

4.96

Pfizer Ltd.

4.19

Hindustan Zinc Ltd

2.78

Aventis Pharma Ltd.

2.84

Paper

1.57

Tamil Nadu Newsprint & Papers Ltd.

1.57

Sterlite Industries (India) Ltd.

1.34

Chemicals

1.12

Dishman Pharmaceuticals & Chemicals Ltd. 0.60

Hindalco Industries Ltd.

0.85

Gujarat Alkalies & Chemicals Ltd.

1.12

Oil

7.28

Construction

3.50

Cement

0.88

Oil & Natural Gas Corporation Ltd.

5.45

Nagarjuna Construction Company Ltd.

1.86

Kesoram Industries Ltd.

0.88

Great Offshore Ltd.

1.82

JMC Projects (India) Ltd

1.21

IVRCL Infrastructures & Projects Ltd.

0.44

Cash & Cash Equivalents

4.28

Fertilisers

7.09

Chambal Fertilisers & Chemicals Ltd.

2.44

Ferrous Metals

3.03

Net receivables / payables

Coromandel Fertilisers Ltd.

2.34

Maharashtra Seamless Ltd.

2.05

Tata Chemicals Ltd.

2.31

JSW Steel Ltd.

0.98

Industrial Capital Goods

5.58

Gas

2.59

Bharat Electronics Ltd.

3.67

Indraprastha Gas Ltd.

2.59

Total Net Assets

5.28 100.00

Birla Sun Life '95 Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended balanced scheme with the objective of long term growth of capital and current income, through a portfolio of equity and fixed income securities

Large

Investment Performance

Rating Profile

Mid 25

Small

22.40

20 15.51

15

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : : :

Mr. A. Balasubramaniam November 30, 2007 18 years February 10, 1995 An Open-ended Balanced Scheme

0

1 Year

3 Years

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

:

Available

Plans / Options & NAV (as on April 29, 2009) Dividend : 77.66 (Payout, Reinvestment & Sweep)

Growth

:

177.26

Benchmark Average AUM

: :

CRISIL Balanced Fund Index Rs. 127.12 Crores

Load Structure (Incl for SIP) Entry Load* :

Exit Load**

:

Since Inception

-20

Birla Sun Life 95 Fund - Growth

Crisil Balanced Fund Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

PSU/PFI Bonds/Banks Power Finance Corporation Ltd. ** Indian Railway Finance Corporation Ltd. ** IDBI Bank Ltd. ** ICICI Bank Ltd. **

% to Net Assets 24.49 7.26 7.14 5.87 4.22

Consumer Non Durables ITC Ltd. Nestle India Ltd. Colgate-Palmolive (India) Ltd. United Breweries Holdings Ltd.

10.41 5.11 2.81 1.95 0.53

Telecom-Services Reliance Communications Ltd. Bharti Airtel Ltd.

8.47 4.67 3.80

< Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil

Software Infosys Technologies Ltd. Wipro Ltd. Everonn Systems India Ltd.

7.09 3.44 2.44 1.21

Petroleum Products Reliance Industries Ltd. Indian Oil Corporation Ltd.

5.97 3.43 2.53

Banks Punjab National Bank ICICI Bank Ltd. Allahabad Bank Syndicate Bank

4.33 1.65 1.38 0.90 0.40

Government Bond 08.24 CGL 2027

3.34 3.34

Retailing Trent Ltd.

2.88 2.88

Minerals/Mining Nava Bharat Ventures Ltd.

2.53 2.53

Industrial Capital Goods Bharat Heavy Electricals Ltd. Siemens Ltd. Bharati Shipyard Ltd.

2.51 1.38 0.75 0.38

:

0.68

Cash & Current Assets

2.15%

Portfolio & Asset Allocation Issuer

8.26 8.26

– 31.57%

3.34%

Sovereign -19.05 -19.83

Pesticides Rallis India Ltd.

: :

5.87%

AA

-15

< Rs. 5 crores - 2.25% ³ Rs. 5 crores - Nil

*For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Standard Deviation Annual Portfolio Turnover ratio

5 Years

-5 -10

-25

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

18.62%

AAA

3.38 2.60

5

% Returns

Fund Details

70.02%

Other 10.54

10

Rating

AAA AAA AA+ AAA

Sovereign

Issuer

% to Net Assets

Power Jyoti Structures Ltd. GVK Power & Infrastructure Ltd. KEC International Ltd.

2.49 1.04 0.98 0.47

Pharmaceuticals Dr. Reddy's Laboratories Ltd. Aventis Pharma Ltd.

2.42 1.60 0.81

Gas Gujarat Gas Company Ltd.

2.11 2.11

Fertilisers Rashtriya Chemicals & Fertilizers Ltd.

2.05 2.05

Construction Project Larsen & Toubro Ltd.

2.01 2.01

Chemicals Gujarat Alkalies & Chemicals Ltd.

1.30 1.30

Non - Ferrous Metals Sterlite Industries (India) Ltd.

1.25 1.25

Finance Infrastructure Development Finance Company

1.02 1.02

Cement Jaiprakash Associates Ltd. The India Cements Ltd.

1.02 0.79 0.22

Diversified Bombay Burmah Trading Corporation Ltd. Aditya Birla Nuvo Ltd.

0.86 0.45 0.41

Auto Bajaj Auto Ltd.

0.68 0.68

Media & Entertainment ETC Networks Ltd. Magnasound India Ltd. **

0.38 0.38 #

Cash & Current Assets

Rating

2.15

Total Net Assets

100.00

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 24.49%. # Indicates less than 0.01

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

CRISIL~CPR 2^^ Birla Sun Life ‘95 Fund Hybrid Equity - Oriented (18 Schemes), 2 years ended 31-Mar-09

« « « « Value Research Rating# Birla Sun Life ‘95 Fund Hybrid Equity-Oriented (25 Schemes),for 3 & 5 years periods ending 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

27

Birla Sun Life Freedom Fund*

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Investment Style Value

Blend

Growth

Size

An open-ended balanced scheme with an objective to balance income requirements with growth of capital through a balance mix of investments in equity and debt at relatively moderate levels of risks through a diversified research based investment approach.

Large

Investment Performance

Rating Profile

Mid 15

12.74

10

0

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

Mr. Maneesh Dangi & Mr.Vineet Maloo April 20, 2009 6 years & 4 years October 12, 1999 An Open-ended Balanced Scheme

: : : :

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

:

Available

% Returns

Fund Details

2.60 1 Year 3 Years

5 Years

:

-10

Plans / Options & NAV (as on April 29, 2009) Dividend : 19.25 (Payout, Reinvestment & Sweep)

34.21%

Other

7.62%

AA

-9.95

-15 -20

6.71%

AAA

-19.83

-25

Birla Sun Life Freedom Fund - Growth

Crisil Balanced Fund Index

3.20%

Sovereign

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation % to Net Assets 14.33 7.62 6.22 0.49

Available Available

Since Inception

-5

Issuer

:

48.26%

Cash & Current Assets

4.86

5

Fund Manager

11.77

10.54

Small

PSU/PFI Bonds/Banks Citibank N A ** Power Finance Corporation Ltd. ** HDFC Bank Ltd. ** Banks State Bank of India ICICI Bank Ltd. HDFC Bank Ltd. Punjab National Bank Axis Bank Ltd.

10.76 3.84 2.63 2.20 1.42 0.68

Rating

AA+ AAA AAA

Issuer Government Bond 07.61 Oil Comp GOI Bonds 2015

% to Net Assets 3.20 3.20

Industrial Capital Goods Bharat Heavy Electricals Ltd. Siemens Ltd. ABB Ltd. Suzlon Energy Ltd.

2.43 2.38 0.02 0.02 0.02

Finance Housing Development Finance Corp. Ltd. Reliance Capital Ltd.

2.33 2.31 0.02

Ferrous Metals Steel Authority of India Ltd. Tata Steel Limited

1.84 1.33 0.51

Growth

:

28.96

Benchmark Average AUM

: :

CRISIL Balanced Fund Index Rs. 91.27 Crores

Petroleum Products Reliance Industries Ltd. Reliance Petroleum Ltd. Bharat Petroleum Corporation Ltd.

9.88 8.38 1.48 0.02

< Rs. 5 crores - 2.50% ³ Rs. 5 crores - Nil

Telecom-Services Bharti Airtel Ltd. Reliance Communications Ltd. Idea Cellular Ltd. Tata Communications Limited.

9.02 5.95 1.85 0.65 0.56

Consumer Non Durables ITC Ltd.

1.19 1.19

Gas GAIL (India) Ltd.

0.96 0.96

Oil Oil & Natural Gas Corporation Ltd. Cairn India Ltd.

6.12 5.47 0.65

Auto Hero Honda Motors Ltd. Maruti Suzuki India Ltd. Mahindra & Mahindra Ltd. Tata Motors Ltd.

5.70 1.54 1.50 1.47 1.19

Non - Ferrous Metals Sterlite Industries (India) Ltd. National Aluminium Company Ltd. Hindalco Industries Ltd.

0.89 0.85 0.02 0.02

Diversified Hindustan Unilever Ltd.

0.85 0.85

Power NTPC Ltd. Power Grid Corporation of (I) Ltd. Tata Power Company Ltd. Reliance Infrastructure Ltd. Reliance Power Ltd.

4.62 3.18 0.67 0.40 0.32 0.05

Pharmaceuticals Sun Pharmaceutical Industries Ltd. Cipla Ltd. Ranbaxy Laboratories Ltd.

0.09 0.04 0.03 0.01

Construction Project Larsen & Toubro Ltd.

0.09 0.09

Construction DLF Ltd. Unitech Ltd.

0.08 0.07 0.01

Load Structure (Incl for SIP) Entry Load* :

Exit Load**

:

< Rs. 5 crores - 1% if redeemed / switched out within 12 months ³ Rs. 5 crores - Nil *For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Standard Deviation Annual Portfolio Turnover ratio

: :

– 23.28%

:

1.56

Cement Grasim Industries Ltd. Ambuja Cements Ltd. ACC Ltd.

4.43 2.03 1.21 1.19

Software Infosys Technologies Ltd. Tata Consultancy Services Ltd. Wipro Ltd. HCL Technologies Ltd. Planetasia.Com Ltd

4.12 1.82 1.28 1.01 0.01 #

Future and Options CNX Nifty Futures May 2009

-31.18 -31.18

Cash & Current Assets Total Net Assets

48.26 100.00

** Represents thinly traded/ non traded securities & illiquid securities. Total Percentage of thinly/non traded securities is 14.33%. # Indicates less than 0.01

*Name of scheme changed w.e.f April 20, 2009 erstwhile Birla Sun Life Balance

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

CRISIL~CPR 1^^

Value Research Rating# « « « «

Birla Sun Life Freedom Fund

Birla Sun Life Freedom Fund

Hybrid Equity - Oriented (18 Schemes), 2 years ended 31- Mar-09

Hybrid Equity-Oriented (25 Schemes),for 3 & 5 years periods ending 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

28

Rating

Sovereign

Birla Sun Life Monthly Income An open-ended scheme. Monthly income is not assured and is subject to availability of distributable surplus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality High

Mid

Low

Interest rate sensitivity

An open-ended income scheme with the primary investment objective to generate regular income so as to make monthly and quarterly distributions to Unit holders and the secondary objective as growth of capital. Monthly income is not assured and is subject to availability of distributable surplus

High

Investment Performance

Mid

11.97

12

8.54

Mr. A. Balasubramaniam November 30, 2007 18 years July 14, 1999 An Open-ended Income Scheme

% Returns

8

: : : : :

8.17

7.62

6 4

(Payout & Reinvestment)

Quarterly Dividend

:

11.0272

Benchmark Average AUM Load Structure Entry Load Exit Load**

:

: :

: :

30.2726

CRISIL MIP Blended Index Rs. 122.54 Crores

Nil 1% if redeemed / switched out within 12 months from the date of allotment

10.52%

Sovereign

10.51%

2 1 Year

3 Years

5 Years

Birla Sun Life Monthly Income - Growth

Since Inception

Crisil MIP Blended Index

AA

8.18%

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation Issuer

% to Net Assets 39.98

Rating

Issuer KEC International Ltd.

% to Net Assets 0.64

GE Capital Services India**

14.22

AAA

ICICI Bank Ltd.

0.58

Reliance Industries Ltd.**

13.69

AAA

Allahabad Bank

0.53

Housing Development Finance Corporation Ltd.**

12.07

AAA

Aventis Pharma Ltd.

0.53

State Bank of India

0.52

Kalpataru Power Transmission Ltd.

0.51

(Payout & Reinvestment)

Growth

Cash & Current Assets 3.15

Corporate Debt

Plans / Options & NAV (as on April 29, 2009) Monthly Dividend : 10.7674

12.67%

Equity 6.83

6.63

0

Key Features Default Plan / Option : Growth / Dividend Reinvestment For Monthly & Quarterly Dividend Fresh Purchase : Rs. 25000/Additional Purchase : Rs. 5000/For Growth Plan Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/Redemption Cheques : Within 10 working days issued

58.12%

AAA

10

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

Rating Profile

14

Low

PSU/PFI Bonds/Banks

26.32

IDBI Bank Ltd.**

8.18

AA+

Rural Electrification Corporation Ltd.

0.50

Power Finance Corporation Ltd.**

4.81

AAA

Chambal Fertilisers & Chemicals Ltd.

0.48

Indian Railway Finance Corporation Ltd.**

4.16

AAA

Taj GVK Hotels & Resorts Ltd.

0.44

ICICI Bank Ltd.**

4.06

AAA

Gujarat Gas Company Ltd.

0.31

Indian Railway Finance Corporation Ltd.**

2.86

AAA

ETC Networks Ltd.

0.19

Infrastructure Development Finance Company Ltd.**

1.75

AAA

McDowell Holdings Ltd.

0.16

LIC Housing Finance Ltd.**

0.42

AAA

Rashtriya Chemicals & Fertilizers Ltd.

0.13

Power Finance Corporation Ltd.**

0.08

AAA

Magnasound India Ltd. **

Rating

#

**Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Equity

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Annual Portfolio Turnover Ratio

: :

6.78 Years 7.20%

: :

77% 12.03%

:

0.26

12.67

Government Bond

10.51

Rallis India Ltd.

1.24

08.24 CGL 2027

7.59

Sovereign

Hero Honda Motors Ltd.

1.11

05.87 CGL 2010

2.92

Sovereign

Infosys Technologies Ltd.

1.06

Wyeth Ltd.

1.03

Nestle India Ltd.

0.97

Tata Motors Ltd.

0.93

Tata Steel Limited

0.83

Cash & Current Assets Total Net Assets

10.52 100.00

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 66.30% # Indicates less than 0.01

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

Value Research Rating# « « « « Birla Sun Life Monthly Income Hybrid Monthly Income (32 Schemes),for 3 & 5 years periods ending 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

29

Birla Sun Life MIP An open-ended scheme. Monthly income is not assured and is subject to availability of distributable surplus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality High

Mid

Low

Interest rate sensitivity

High Mid

The primary objective of the schemes is to generate regular income so as to make monthly distributions to unitholders with the secondary objective being growth of capital. Income may be generated through the receipt of coupon payments, the amortization of the discount on debt instruments, receipt of dividends or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets primarily in fixed income securities, money market instruments, cash and cash equivalents while at the same time maintaining a small exposure to equity markets. (Monthly income is not assured and is subject to availability of distributable surplus.)

Rating Profile

Investment Performance

Low 12

Fund Details : : : : :

Key Features Default option

:

Mr. A. Balasubramaniam November 30, 2007 18 years November 20, 2000 An Open-ended Income Scheme

7.88

7.63

8

63.57%

AAA

7.67

16.04%

AA 6.83

6.63

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

10.17

10

6

9.68%

Equity

4

3.15

5.04%

Sovereign 2

Dividend Reinvestment / Instant Payment For Monthly Dividend / Payment Fresh Purchase : Rs. 25000/Additional Purchase : Rs. 1000/For Growth Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/Redemption Cheques : Within 10 working days issued

3.54%

Future and Options

0

1 Year

3 Years

5 Years

Birla Sun Life MIP - Growth

Since Inception

Crisil MIP Bended Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

Cash & Current Assets

2.13%

Portfolio & Asset Allocation Issuer

% to Net Assets 47.78

Rating

Issuer

% to Net Assets 1.09

Plans / Options & NAV (as on April 29, 2009) Dividend : 10.9944

PSU/PFI Bonds/Banks

(Payout & Reinvestment)

IDBI Bank Ltd.

15.27

AA+

Reliance Industries Ltd.

1.03

ICICI Bank Ltd.

8.90

AAA

Indraprastha Gas Ltd.

1.03

ITC Ltd.

Monthly Payment / Growth (Instant / Deferred)

:

22.6616

Power Finance Corporation Ltd.

6.78

AAA

HDFC Bank Ltd.

1.01

Benchmark Average AUM

: :

CRISIL MIP Blended Index Rs. 85.55 Crores

Infrastructure Development Finance Company Ltd.

6.17

AAA

Wyeth Ltd.

0.87

National Bank for Agriculture & Rural Development

5.31

AAA

Aventis Pharma Ltd.

0.75

Power Grid Corporation of India Ltd.

4.62

AAA

Cipla Ltd.

0.50

United Phosphorus Ltd.

0.41

Load Structure Entry Load

:

Nil

Exit Load**

:

For Purchase / Switch in of units, upto and including Rs. 1 crores in value, an exit load of 0.60% is payable if units are redeemed / switched out within 6 months from the date of allotment. For Purchase / Switch in of units, greater than Rs. 1 crores in value, no exit load is payable. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Annual Portfolio Turnover ratio

: :

5.28 Years 8.10%

: :

84% 11.73%

:

0.24

Power Finance Corporation Ltd.

0.49

AAA

State Bank of India

0.25

AAA

Corporate Debt

31.83

Reliance Industries Ltd.

12.87

GE Capital Services India

Government Bond

5.04

08.24 CGL 2027

5.04

AAA

10.34

AAA

Future and Options

3.54

Housing Development Finance Corporation Ltd.

7.85

AAA

CNX Nifty Futures May 2009

3.54

Trent Ltd.

0.77

CARE AA Cash & Current Assets

2.13

EQUITY

9.68

Rallis India Ltd.

1.50

Pfizer Ltd.

1.49

Total Net Assets

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

# « « « « Value Research Rating

Birla Sun Life MIP Hybrid Monthly Income (32 Schemes),for 3 & 5 years periods ending 30-Apr-09

30

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

100.00

Rating

Sovereign

Birla Sun Life MIP II - Wealth 25 Plan An open-ended scheme. Monthly income is not assured and is subject to availability of distributable surplus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality High

Mid

Low

Interest rate sensitivity

An open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus.

High

Investment Performance

Mid

Rating Profile

9

Low

7.98

8 7

7.65

Fund Details : : : : :

Mr. A. Balasubramaniam November 30, 2007 18 years May 22, 2004 An Open-ended Income Scheme

% Returns

6

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

19.48%

Equity

5

4.66

4 3 2

18.61%

Cash & Current Assets

3.15 1.59

11.65%

AA

1 0

1 Year

3 Years

Birla Sun Life MIP II - Wealth 25 - Growth

Key Features Default option : Dividend Reinvestment For Monthly Dividend / Payment Fresh Purchase : Rs. 25000/Additional Purchase : Rs. 1000/For Growth Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/Redemption Cheques : Within 10 working days issued

36.95%

AAA

6.63

10.03%

Sovereign

Since Inception

Crisil MIP Bended Index

Future and Options

3.28%

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation Issuer PSU/PFI Bonds/Banks

% to Net Assets 29.39

Rating

Issuer Shree Cements Ltd.

% to Net Assets 0.52

Plans / Options & NAV (as on April 29, 2009) Dividend : 10.4647

IDBI Bank Ltd.**

11.65

AA+

Hindustan Zinc Ltd

0.48

Power Finance Corporation Ltd.**

10.41

AAA

Shaw Wallace & Company Ltd.

0.27

(Payout & Reinvestment)

National Bank for Agriculture & Rural Development**

7.33

AAA

United Breweries Ltd.

0.23

Growth / Payment

:

14.6108

Benchmark Average AUM

: :

CRISIL MIP Blended Index Rs. 56.73 Crores

EQUITY

19.48

Corporate Debt

Rating

19.21

Rallis India Ltd.

2.49

Reliance Industries Ltd.**

9.88

AAA

Novartis India Ltd.

1.91

Housing Development Finance Corp Ltd**

9.33

AAA

1.78

Load Structure Entry Load

:

Nil

Reliance Industries Ltd.

Exit Load**

:

1% if redeemed / switched out within 12 months from the date of allotment

Bharat Electronics Ltd.

1.63

Government Bond

Pfizer Ltd.

1.59

08.24 CGL 2027

6.76

Sovereign

Nava Bharat Ventures Ltd.

1.50

07.61 OIL COMP GOI BONDS 2015

3.27

Sovereign

Infosys Technologies Ltd.

1.14

**Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Annual Portfolio Turnover ratio

: :

5.52 Years 6.30%

: :

58% 17.75%

:

0.61

10.03

HDFC Bank Ltd.

1.09

Future and Options

3.28

ITC Ltd.

1.00

CNX Nifty Futures MAY 2009

3.28

Tata Chemicals Ltd.

0.75

Simplex Infrastructures Ltd.

0.72

ICICI Bank Ltd.

0.65

Bharti Airtel Ltd.

0.62

Sun Pharmaceutical Industries Ltd.

0.56

Allahabad Bank

0.55

Cash & Current Assets

Total Net Assets

18.61

100.00

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 48.60%.

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

31

Birla Sun Life MIP II - Savings 5 Plan An open-ended scheme. Monthly income is not assured and is subject to availability of distributable surplus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality High

Mid

Low

Interest rate sensitivity

An Open-ended income scheme with the objective to generate regular income so as to make monthly payment or distribution to unit holders with the secondary objective being growth of capital. Monthly Income is not assured and is subject to availability of distributable surplus.

High

Investment Performance

Mid 20

Rating Profile

18.48

18

Low

16

: : : : :

Mr. A. Balasubramaniam November 30, 2007 18 years May 22, 2004 An Open-ended Income Scheme

Key Features Default option : Growth / Dividend Reinvestment For Monthly Dividend / Payment Fresh Purchase : Rs. 25000/Additional Purchase : Rs. 1000/For Growth Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/Redemption Cheques : Within 10 working days issued Systematic Investment : Available Plan (SIP) Systematic Withdrawal : Available Plan (SWP) Systematic Transfer : Available Plan (STP) Plans / Options & NAV (as on April 29, 2009) Monthly Dividend : 11.0971

Benchmark Average AUM

: : :

Load Structure (Incl. for SIP) Entry Load : Exit Load**

10

8.98

8

4

3.15

:

11.17%

Cash & Current Assets

2 0

1 Year

3 Years

Birla Sun Life MIP II - Savings 5 - Growth

Since Inception

Equity

Crisil MIP Bended Index

6.88%

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation Issuer

% to Net Assets 49.49

Corporate Debt

Rating

Issuer ICICI Bank Ltd.

% to Net Assets 0.71

LIC Housing Finance Ltd. **

15.59

AAA

State Bank of India

0.63

Tata Sons Ltd. **

14.88

AAA

Cummins India Ltd.

0.60

Reliance Industries Ltd. **

13.87

AAA

Glaxosmithkline Pharmaceuticals Ltd.

0.58

5.14

AAA

Rural Electrification Corporation Ltd.

0.58

Tata Steel Limited

0.57

16.54

Indian Hotels Co. Ltd.

0.52

14.58

AA+

Taj GVK Hotels & Resorts Ltd.

0.19

1.96

AAA

Housing Development Finance Corporation Ltd. ** PSU/PFI Bonds/Banks IDBI Bank Ltd. **

15.2952 CRISIL MIP Blended Index Rs. 30.73 Crores

14.58%

AA

7.65

6.63

6

Power Finance Corporation Ltd. **

(Payout & Reinvestment)

Monthly Payment / Growth

11.62

12

% Returns

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

67.36%

AAA

14

Securitised Debt

13.47

Vodafone Essar Digilink Ltd. **

13.47

Money Market Instruments

2.45

Tata Capital Ltd.

2.45

F1+(SO) Cash & Current Assets

EQUITY

11.17

6.88

Nil

BEML LIMITED

1.54

For Purchase / Switch in of units, upto and including Rs. 1 crores in value, an exit load of 1% is payable if units are redeemed / switched out within 1 year from the date of allotment. For Purchase / Switch in of units, greater than Rs. 1 crores in value, no exit load is payable.

Indraprastha Gas Ltd.

0.95

Total Net Assets

100.00

** Represents thinly traded/ non traded securities and illiquid securities. Total Percentage of thinly/non traded securities is 79.50%.

**Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Turnover ratio

: :

2.07 Years 8.40%

: : :

79% 14.96% -

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

CRISIL~CPR 1^^ Birla Sun Life MIP II Savings 5 Plan MIP Conservative schemes (9 Schemes), 2 years ended 31-Mar-09

32

i i i Value Research Rating# i i Birla Sun Life MIP II Savings 5 Plan Hybrid: Monthly Income (32 Schemes),for 3 & 5 years periods ended 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

Rating

A1+

Birla Sun Life Asset Allocation Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality High

Mid

Low

Interest rate sensitivity

An open-ended Fund of Funds scheme with the objective to provide income and capital appreciation along with diversification by investing in a basket of debt and equity Mutual Fund schemes in line with the risk profile of the investors.

High

Investment Performance - Moderate Plan

Investment Performance - Aggressive Plan

Mid

15

20 14.88 14.10

Low

14.23 13.55

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued

: : : :

Mr. Ajay Garg & Mr. Satyabrata Mohanty February 19, 2007 18 years & 10 years February 24, 2004 An Open-ended Fund of Funds Scheme

0

5 Years

3 Years -0.79

-10 -20

-10.63

-20 -32.83

Birla Sun Life AAF Aggressive Plan - Growth

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Dividend Reinvestment Rs. 5000/Rs. 1000/Within 10 working days

Birla Sun Life AAF Moderate Plan - Growth

Crisil Balanced Fund Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Investment Performance - Conservative Plan 12

19.9249

:

16.4436

6.63

6.83

2

3 Years

5 Years

3.15 2.21

:

18.4787

:

18.4787

: : :

S&P CNX NIFTY CRISIL Balanced Fund Index CRISIL MIP Blended Index

: : :

Rs. 6.92 Crores Rs. 4.63 Crores Rs. 4.44 Crores

Load Structure Entry Load Aggressive Plan Moderate Plan Conservative Plan

: : :

1.50% 1.00% 1.00%

Mutual Fund Units Birla Sun Life Index Fund Birla Sun Life Advantage Fund Birla Sun Life MNC Plan Birla Sun Life Midcap Fund Birla Sun Life India Opportunities Fund Birla Sun Life Dynamic Bond Fund Birla Sun Life Income Fund - Growth Birla Sun Life Short Term Fund - Growth Birla Sun Life Gilt Plus PF Plan

Exit Load

:

Nil

Cash & Cash Equivalents

3.51

Net receivables / payables

-1.87

0

1 Year

Birla Sun Life AAF Conservative Plan - Growth

(Payout & Reinvestment)

6.90

6 4

Since Inception

Crisil MIP Blended Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation - Moderate Plan

Portfolio & Asset Allocation - Aggressive Plan Issuer

% to Net Assets

Issuer

98.36 16.30 15.68 15.39 15.01 14.04 10.18 6.27 4.40 1.09

Total Net Assets

: : :

10.08

7.67

8

% Returns

:

10.13

10

16.4436

Other Parameter Standard Deviation Aggressive Plan Conservative Plan Moderate Plan

-19.83

-25

S & P CNX Nifty

:

Benchmark Aggressive Plan Moderate Plan Conservative Plan Average AUM Aggressive Plan Conservative Plan Moderate Plan

Since Inception

-15

(Payout & Reinvestment)

Growth

5 Years

-10

(Payout & Reinvestment)

Growth Moderate Plan Dividend

3 Years

-5

-30 -40

2.60

1 Year

0

-16.09

Plans / Options & NAV (as on April 29, 2009) Aggressive Plan Dividend : 19.9249 Growth Conservative Plan Dividend

Since Inception

12.58 10.32

4.77

5

2.94

1 Year

% Returns

Fund Manager

% Returns

Fund Details

12.96 10.54

10

10

% to Net Assets

Mutual Fund Units Birla Sun Life Dynamic Bond Fund Birla Sun Life Index Fund Birla Sun Life Midcap Fund Birla Sun Life Advantage Fund Birla Sun Life MNC Plan Birla Sun Life India Opportunities Fund Birla Sun Life Income Fund - Growth Birla Sun Life Short Term Fund - Growth Birla Sun Life Gilt Plus Liquid Plan

96.50 30.16 19.31 15.10 9.32 6.39 5.84 5.51 4.87 #

Cash & Cash Equivalents

3.50

Total Net Assets

100.00

22.84% 5.96% 15.52%

#

100.00

Indicates less than 0.01

Portfolio & Asset Allocation - Conservative Plan Issuer

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

% to Net Assets

Mutual Fund Units Birla Sun Life Short Term Fund - Growth Birla Sun Life Dynamic Bond Fund Birla Sun Life Income Fund - Growth Birla Sun Life Index Fund Birla Sun Life MNC Plan Birla Sun Life India Opportunities Fund Birla Sun Life Advantage Fund Birla Sun Life Midcap Fund Cash & Current Assets

3.33

Total Net Assets

100.00

Winner of

Value Research Rating# « « « «

Best Fund - 3 yrs performance Lipper Awards India 2009

Birla Sun Life AAF - Aggressive Equity Diversified(142 Schemes),for 3 & 5 years periods ended 30-Apr-09

96.67 33.55 30.29 8.95 6.89 5.37 4.89 4.00 2.73

&

Birla Sun Life Asset Allocation Fund - Growth 9

Mixed Asset INR Balanced, (7 schemes) 3 Yrs Performance (2005-2008)

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

33

Birla Sun Life Cash Plus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended liquid scheme with the objective to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments.

High

Rating Profile

Investment Performance

Mid 12

Low

10.20

10

Fund Manager

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option

:

Retail Plan Fresh Purchase Additional Purchase Institutional Plan Fresh Purchase Additional Purchase Institutional Premium Plan Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

Mr. Satyabrata Mohanty & Mr. Maneesh Dangi November 30, 2007 10 years & 6 years June 16, 1997 An Open-ended Liquid Scheme

Appln of less than Rs. 1 cr - Retail Plan - Dividend Reinvestment Appln of equal to or greater than Rs. 1 cr but less than Rs. 5 cr Institutional Plan - Daily Dividend Reinvestment Appln of equal to or greater than Rs. 5 cr - Institutional Premium Plan - Daily Dividend Reinvestment

: :

Rs. 10000/Rs. 1000/-

: :

Rs. 1 Crore Rs. 1 Lac

: : :

Rs. 5 Crore Rs. 1 Lac Within 10 working days

:

Not Available

:

Available

:

Available

Plans / Options & NAV (as on April 29, 2009) Retail Plan Growth : 23.6590 Daily Dividend : 16.3694 (Reinvestment)

Institutional Plan Growth Daily Dividend

: :

23.9522 10.8023

:

10.8289

:

10.8147

Institutional Premium Plan Growth : Daily Dividend :

14.1332 10.0195

(Reinvestment)

Fortnightly Dividend (Payout & Reinvestment)

Weekly Dividend (Payout & Reinvestment)

(Payout & Reinvestment)

Fortnightly Dividend

:

10.0000

:

10.0302

:

10.0006

: :

CRISIL Liquid Fund Index Rs. 10258.68 Crores

(Payout & Reinvestment)

Weekly Dividend (Payout & Reinvestment)

Monthly Dividend (Payout & Reinvestment)

Benchmark Average AUM

% Returns

Fund Details

6

4.94

63.61%

AAA

8.44

7.92

8

7.52 5.78

5.18

23.24%

Cash & Current Assets

4

0

10.64%

Sovereign

2

15 days

1 Month

3 Months

Since Inception

AA

2.51%

Birla Sun Life Cash Plus - Retail - Growth CRISIL Liquid Fund Index Past performance may or may not be sustained in future. Returns are in % and simple annualized for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation Issuer Money Market Instruments ICICI Bank Ltd. CitiBank N.A. ONGC Vidhesh Ltd UCO Bank Ltd. Bank Of India Corporation Bank Federal Bank Ltd. Rural Electrification Corporation Ltd. Vijaya Bank Karnataka Bank Ltd. Union Bank of India State Bank of Indore The Jammu and Kashmir Bank Ltd. Indian Bank Allahabad Bank United Bank Of India State Bank of Patiala Canara Bank Allahabad Bank Tata Capital Ltd. ABN AMRO Bank Small Industries Development bank of India Punjab National Bank Yes Bank Ltd. ICICI Home Finance Company Ltd. Mahindra & Mahindra Financial Services Ltd. ICICI Securities Ltd. Larsen & Toubro Finance Ltd. State Bank of Travancore Reliance Capital Ltd. Vijaya Bank State Bank of Bikaner and Jaipur GE Capital Services India IDBI Bank LTD. Oriental Bank Of Commerce Export-Import Bank of India Floating Rate Instruments Housing Development Finance Corporation Ltd. Infrastructure Development Finance Company Ltd.

% to Net Assets 47.57 7.35 5.19 4.83 4.61 2.53 2.50 2.20 2.06 2.06 1.54 1.18 1.05 1.04 0.87 0.85 0.78 0.74 0.73 0.65 0.63 0.54 0.52 0.51 0.47 0.46 0.37 0.26 0.22 0.20 0.16 0.16 0.15 0.10 0.05 0.01 0.01 12.85 3.52 2.12

Rating

A1+ P1+ P1+(SO) P1+ P1+ P1+ P1+ A1+ PR1+ A1+ A1+ P1+ P1+ F1+ A1+ A1+ A1+ P1+ P1+ A1+ A1+ PR1+ PR1+ A1+ A1+ P1+ P1+ PR1+ P1+ A1+ P1+ A1+ P1+ A1+ P1+ A1+

Issuer

% to Net Assets CitiFinancial Consumer Finance India Ltd. 1.26 LIC Housing Finance Ltd. 0.80 Tata Sons Ltd. 0.79 Global Trade Finance Ltd. 0.79 Housing Development Finance Corporation Ltd. 0.70 Gruh Finance Ltd 0.52 LIC Housing Finance Ltd. 0.42 Axis Bank Ltd. 0.41 ICICI Bank Ltd. 0.35 Power Finance Corporation Limited 0.31 Hero Honda Finlease Ltd. 0.26 Indian Railway Finance Corporation Ltd. 0.26 Infrastructure Development Finance Company Ltd. 0.21 Sundaram Finance Ltd. 0.08 Union Bank of India 0.05 Treasury Bills 91 Days T-Bill Mat 15-May-09 182 Days T-Bill Mat 29-May-09 91 Days T-Bill Mat 08-May-09 91 Days T-Bill Mat 01-May-09 182 Days T-Bill Mat 15-May-09 91 Days T - Bill Mat 29-May-09 91 Days T - Bill Mat 12-Jun-09 91 Days T - Bill Mat 05-Jun-09

AA AAA AAA A1+ LAAA LAA+ AAA LAA+ AAA AAA P1+ AAA AAA LAA+ AA+

10.64 2.10 2.09 2.05 1.31 1.05 1.05 0.73 0.26

Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign

Securitised Debt Hindustan Petroleum Corporation Ltd.** Bennett, Coleman & Co Ltd.** Hindustan Petroleum Corporation Ltd.** Vodafone Essar Cellular Ltd.**

3.82 3.11 0.53 0.13 0.05

A1+(SO) P1+(SO) P1+(SO) F1+(SO)

Corporate Debt Piramal Healthcare Ltd.** Housing Development Finance Corporation Ltd.** Kotak Mahindra Prime Ltd.** Sundaram Finance Ltd.**

1.88 1.05 0.65 0.16 0.03

A1+ AAA LAA CARE AA+

Cash & Current Assets AAA LAAA

Rating

23.24

Total Net Assets

100.00

** Represents thinly traded/ non traded securities and illiquid securities.Total Percentage of thinly/non traded securities is 5.71 %.

Load Structure Entry Load

:

Nil

Exit Load

:

Nil

Other Parameter Average Maturity Yield to Maturity

: :

0.25 Years 6.10%

:

-

: : :

0.43% 0.39% 0.38%

(for Debt Component)

Mark to Market Standard Deviation Retail Plan Institutional Plan Institutional Premium Plan

#

i i i i i Value Research Rating

Birla Sun Life Cash Plus - Institutional Premium Plan Debt: Ultra Short Term Inst. Prem. Schemes (46 Schemes), 18 months & 3 years ended 30-Apr-09

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

34

CRISIL~CPR 1^^ Birla Sun Life Cash Plus - Retail Plan Consistent CPR Performer - Liquid (15 Schemes) , 5 Yrs ended 31-Mar-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48 +The grading has been assigned by ICRA and indicates highest quality. The investment quality is similar to that of fixed income obligations of highest safety and with maturity corresponding upto 1 year. This grading should however, not be construed as an indication of the performance of the Mutual Fund scheme or of volatility in its returns.

Birla Sun Life Cash Manager

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended liquid scheme with the objective to provide current income which is consistent with a portfolio that offers investors superior liquidity by investing 100% in a diversified portfolio of debt (Fixed Income) and money market securities.

High

Low

12 10.20

Fund Manager

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option

Retail Plan Fresh Purchase Additional Purchase Institutional Plan Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

Mr. Satyabrata Mohanty & Mr. Maneesh Dangi November 30, 2007 10 years & 6 years May 14, 1998 An Open-ended Liquid Scheme

% Returns

10

Fund Details

Rating Profile

Investment Performance

Mid

8.44

7.92

8

88.04%

AAA

7.28 6.50

6

5.40

5.57

15 days

1 Month

4 2 Cash & Current Assets

0

Birla Sun Life Cash Manager

3 Months

11.96%

Since Inception

CRISIL Liquid Fund Index

Past performance may or may not be sustained in future. Returns are in % and simple annualized for period less than 1 year & CAGR for period 1 year or more. When benchmark returns are not available, they have not been shown.

:

Appln of less than Rs. 1 cr Weekly Dividend Reinvestment. Appln of equal to or greater than Rs. 1 cr - Institutional Plan - Daily Dividend Reinvestment

Portfolio & Asset Allocation Issuer

% to Net Assets

Rating

Issuer

% to Net Assets

Rating

: :

Rs. 10000/Rs. 1000/-

Money Market Instruments

88.04

Axis Bank Ltd.

0.48

P1+

: : :

Rs. 1 Crore Rs. 1 Lac Within 10 working days

Indian Bank

20.55

F1+

Export-Import Bank of India

0.20

AAA

State Bank of Indore

20.35

P1+

Bank of India

0.19

P1+

Federal Bank Ltd.

17.64

P1+

ICICI Bank Ltd.

:

Not Available

:

Available

:

Available

14.25

A1+

UCO Bank

4.47

P1+

State Bank of Patiala

3.79

P1+

Vijaya Bank

3.18

P1+

Allahabad Bank

2.94

A1+

Cash & Current Assets Total Net Assets

11.96 100.00

Plans / Options & NAV (as on April 29, 2009) Retail Plan Growth : 21.6150 Weekly Dividend : 10.0022 (Reinvestment)

Institutional Plan Growth Daily Dividend

: :

14.7669 10.0030

:

10.0022

: :

CRISIL Liquid Fund Index Rs. 703.23 Crores

(Reinvestment)

Weekly Dividend (Reinvestment)

Benchmark Average AUM Load Structure Entry Load

:

Nil

Exit Load

:

Nil

: :

0.22 Years 6.25%

:

-

: :

0.36% 0.35%

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Retail Plan Institutional Plan

#

i i i i Value Research Rating Birla Sun Life Cash Manager Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

Debt: Ultra Short Term (40 Schemes), 18 months & 3 years ended 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

35

Birla Sun Life Savings Fund*

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

High

The primary objective of the schemes is to generate regular income through investments in debt and money market instruments. Income maybe generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The schemes will undernormal market conditions, invest its net assets in fixed income securities, money market instruments, cash and cash equivalents.

Mid

Rating Profile

Investment Performance

Low

12

11.03

8.55

7.95

8

8.41

Managing Fund Since Total Experience Date of inception Retail Plan Institutional Plan Nature of the scheme

Key Features Default option

Retail Plan Fresh Purchase Additional Purchase Institutional Plan Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : : :

:

Mr. Satyabrata Mohanty & Mr. Maneesh Dangi November 30, 2007 10 years & 6 years November 27, 2001 April 16, 2003 An Open-ended Short Term Income Scheme

Appln of less than Rs. 1 cr - Retail Plan - Weekly Dividend Reinvestment Appln of equal to or greater than Rs. 1 cr - Institutional Plan - Daily Dividend Reinvestment

: :

Rs. 10000/Rs. 1000/-

: : :

Rs. 1 Crore Rs. 1 Lac Within 10 working days

:

Available

:

Available

:

Available

Plans / Options & NAV (as on April 29, 2009) Retail Plan Growth : 16.4375 Daily Dividend : 10.0068 (Reinvestment)

Weekly Dividend

:

10.0121

:

11.1628

:

10.1522

: :

16.7138 10.0068

:

10.0126

:

10.7254

:

10.1652

:

CRISIL Short-Term Bond Fund Index Rs. 14521.62 Crores

(Payout & Reinvestment)

Fortnightly Dividend (Payout & Reinvestment)

Monthly Dividend (Payout & Reinvestment)

Institutional Plan Growth Daily Dividend (Reinvestment)

Weekly Dividend (Payout & Reinvestment)

Fortnightly Dividend (Payout & Reinvestment)

Monthly Dividend (Payout & Reinvestment)

Benchmark Average AUM

:

Load Structure (Incl. for SIP) Entry Load :

Nil

Exit Load

:

Nil

: :

0.52 Years 6.50%

:

5%

: :

0.40% 0.41%

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Retail Plan Institutional Plan

% Returns

6.82 6.50

Fund Manager

6.92

4

0

10.82%

Sovereign

2

1 Year

3 Years

Birla Sun Life Savings Fund - Retail Growth

5 Years

Since Inception AA

CRISIL Short-Term Bond Fund Index

3.30%

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation Issuer

% to Net Assets Money Market Instruments 54.16 ICICI Bank Ltd. 7.78 Punjab National Bank 7.44 Allahabad Bank 4.38 Canara Bank 2.71 Bank of India 2.35 Bank of Baroda 2.17 Housing Development Finance Corporation Ltd. 2.05 UCO Bank 1.95 IDBI Bank Ltd. 1.93 Corporation Bank 1.91 State Bank of Indore 1.83 Indian Bank 1.78 The Jammu And Kashmir Bank Ltd 1.58 Andhra Bank 1.57 Canara Bank 1.45 Reliance Capital Ltd. 1.42 Reliance Communication Ltd. 1.26 Syndicate Bank 1.13 State Bank of Patiala 1.08 Standard Chartered Bank 1.01 LIC Housing Finance Ltd. 0.76 Union Bank of India 0.52 Bank of Baroda 0.51 Yes Bank Limited 0.48 State Bank of Hyderabad 0.46 State Bank of Travancore 0.38 Andhra Bank 0.36 Indiabulls Financial Services Ltd. 0.27 Export-Import Bank of India 0.25 Mahindra & Mahindra Financial Services Ltd. 0.20 Infrastructure Development Finance company Ltd. 0.17 Federal Bank Ltd. 0.16 Tata Capital Ltd. 0.15 Larsen & Tourbo Finance Ltd. 0.14 Punjab National Bank 0.13 Oriental Bank of Commerce 0.13 ABN AMRO Bank 0.10 Export-Import Bank of India 0.06 Union Bank of India 0.05 ICICI Home Finance Company Ltd. 0.04 IDBI Bank Ltd. 0.03 Standard Chartered Investment & Loans (India) Ltd. 0.02 Treasury Bills 91 Days T-Bill Mat 09-Jul-2009 91 Days T-Bill Mat 05-Jun-2009 91 Days T-Bill Mat 19-Jun-2009 182 Days T-Bill Mat 22-Aug-2009 Securitised Debt Bharat Petroleum Corporation Ltd. **

Rating

A1+ PR1+ A1+ P1+ P1+ A1+ A1+ P1+ P1+ P1+ P1+ F1+ P1+ PR1+ A1+ A1+ A1+ PR1+ P1+ P1+ P1+ P1+ P1+ A1+ A1+ P1+ F1+ P1+ A1+ P1+ A1+ P1+ A1+ PR1+ F1+ P1+ A1+ AAA A1+ A1+ A1+ P1+

10.79 10.39 0.13 0.13 0.13

Sovereign Sovereign Sovereign Sovereign

7.57 2.04

P1+(SO)

Issuer Hindustan Petroleum Corporation Ltd. ** Power Finance Corporation Ltd. ** Vodafone Essar Digilink Ltd. ** Vodafone Essar Cellular Ltd ** North Delhi Power Limited. ** Hindustan Petroleum Corporation Ltd. ** NTPC Ltd. ** Indian Retail Absolute Trust. ** Wockhardt Ltd. ** Larsen & Tourbo Finance Ltd. **

% to Net Assets 1.88 1.36 1.07 0.68 0.27 0.19 0.03 0.02 0.02 0.01

Rating A1+(SO) AAA(SO) F1+(SO) F1+(SO) A1+(SO) P1+(SO) AAA(SO) AAA(SO) F5(SO) P1+(SO)

Corporate Debt Housing Development Finance Corporation Ltd. ** Tata Sons Ltd. ** Housing Development Finance Corporation Ltd. ** TRIL Infopark Ltd. ** CitiFinancial Consumer Finance India Ltd. ** Kotak Mahindra Prime Ltd. ** Sundaram Finance Ltd. ** Sundaram Finance Ltd. ** GE Money Financial Services Ltd. ** GE Capital Services India. ** ICICI Home Finance Company Ltd. ** Cholamandalam DBS Finance Ltd. **

6.11 1.72 1.63 1.00 0.54 0.49 0.34 0.18 0.11 0.03 0.03 0.03 0.01

AAA AAA AAA PR1+ AA LAA AA+ LAA+ AAA AAA LAAA AA-

Floating Rate Instruments Housing Development Finance Corporation Ltd. Ultratech Cement Ltd. TATA Steel Ltd. CitiFinancial Consumer Finance India Ltd Housing Development Finance Corporation Ltd ICICI Bank Ltd. Indian Railway Finance Corporation Ltd. Tata Sons Ltd. Indian Retail Absolute Trust

4.63 1.63 0.80 0.80 0.54 0.52 0.13 0.12 0.08 0.01

AAA AAA AA AA LAAA AAA AAA AAA AAA(SO)

PSU/PFI Bonds/Banks IDBI Bank Ltd. ** NABARD ** Power Finance Corporation Ltd. ** IDFC Ltd. ** Rural Electrification Corporation Ltd. **

1.01 0.80 0.14 0.03 0.03 #

AA+ AAA AAA AAA AAA

Government Bond 05.87 CGL 2010

0.03 0.03

Sovereign

Cash & Current Assets

15.70

Total Net Assets

100.00

** Represents thinly traded/ non traded securities and illiquid securities.Total Percentage of thinly/non traded securities is 14.67 %. # Indicates less than 0.01

*Name of scheme changed w.e.f February 17, 2009 erstwhile Birla Sun Life Liquid Plus

i i i i Value Research Rating#

Birla Sun Life Savings Fund - Institutional Plan

Birla Sun Life Savings Fund - Retail Plan

Ultra Short Term Debt Scheme - Institutional (18 Schemes), 1yr ended 31-Mar-09

Debt: Liquid Plus (24 Schemes), 18 months & 3 years ended 30-Apr-09

5-Star Award by ICRA

36

15.70%

Cash & Current Assets

6

CRISIL~CPR 2^^

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

70.18%

AAA

10

Fund Details

@

#

i i i i Value Research Rating

Birla Sun Life Savings Fund - Institutional Plan

Birla Sun Life Savings Fund - Institutional Plan

Open Ended Liquid Plus - Institutional Plan (34 Schemes), 1 year ended 31-Dec-08

Debt: Liquid Plus Inst (23 Schemes), 18 months & 3 years ended 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

Birla Sun Life Short Term Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended short term income scheme with the objective to generate income and capital appreciation by investing 100% of the corpus in a diversified portfolio of debt and money market securities with relatively low levels of interest rate risk.

High

Rating Profile

Investment Performance

Mid 12

Low

11.03

10 8.30

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

Key Features Default option

Reinvestment Retail Plan Fresh Purchase Additional Purchase Institutional Plan Fresh Purchase Additional Purchase Redemption Cheques issued SIP SWP STP

:

Mr. Satyabrata Mohanty & Mr. Maneesh Dangi November 30, 2007 10 years & 6 years April 19, 2002 An Open-ended Short Term Income Scheme Appln of less than Rs. 2 cr - Retail Plan - Fortnightly Dividend Reinvestment Appln of equal to or greater than Rs. 2 cr - Institutional Plan Fortnightly Dividend

Rs. 10000/Rs. 1000/-

: : :

Rs. 2 Crore Rs. 10000/Within 10 working days

: : :

Available Available Available

(Reinvestment)

:

10.2111

:

10.6842

: :

10.4861 10.0055

:

10.1148

:

10.1244

Benchmark

:

Average AUM

:

CRISIL Short-Term Bond Fund Index Rs. 5032.77 Crores

(Payout & Reinvestment)

Monthly Dividend (Payout & Reinvestment)

Institutional Plan Growth Daily Dividend

68.07%

AAA 7.06

6.50

6.90

6.54

6 17.86%

Sovereign

4 2 0

1 Year

3 Years

Birla Sun Life Short Term Fund - Retail Plan - Growth

5 Years

14.07%

Cash & Current Assets

Since Inception

CRISIL Short-Term Bond Fund Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation Issuer

: :

Plans / Options & NAV (as on April 29, 2009) Retail Plan Growth : 15.9889 Daily Dividend : 10.0055 Fortnightly Dividend

% Returns

Fund Manager

8.56 8.41

8

Fund Details

Money Market Instruments State Bank of Travancore

% to Net Assets 68.07

Rating

7.91

P1+

Issuer

% to Net Assets 1.63

IDBI Bank Ltd. State Bank of Indore

1.26

Rating P1+ P1+

State Bank of Patiala

6.54

P1+

State Bank of Bikaner and Jaipur

1.22

P1+

State Bank of Hyderabad

5.78

A1+

Canara Bank

1.10

P1+

Canara Bank

5.07

P1+

Vijaya Bank

0.88

P1+

Oriental Bank of Commerce

4.71

P1+

State Bank of Bikaner and Jaipur

0.85

A1+

Union Bank of India

4.41

P1+

Punjab National Bank

4.08

PR1+

State Bank of Mysore

4.08

A1+

Syndicate Bank

3.28

PR1+

Allahabad Bank

2.92

A1+

Corporation Bank

2.60

P1+

Allahabad Bank

2.45

P1+

Vijaya Bank

2.45

PR1+

Bank of Baroda

2.04

P1+

Indian Bank

1.88

F1+

Andhra Bank

0.49

F1+

Punjab National Bank

0.43

F1+

Treasury Bills

17.86

91 Days T-Bill Mat (09-Jul-2009)

17.86

Cash & Current Assets

14.07

Total Net Assets

Sovereign

100.00

(Reinvestment)

Fortnightly Dividend (Payout & Reinvestment)

Monthly Dividend (Payout & Reinvestment)

Load Structure (Incl. for SIP) Entry Load : Exit Load** :

Nil Nil **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Yield to Maturity (for Debt Component) Mark to Market Standard Deviation

: :

0.49 Years 6.10%

: :

0.44%

CRISIL~CPR 1^^ Birla Sun Life Short Term Fund - Retail Plan Debt: Short Term Schemes (19 Schemes), 1 Yr ended 31-Mar-09 Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

&&

CNBC TV-18 CRISIL AWARD 2008 Birla Sun Life Short Term Fund - Retail Category: Income – Short Term Funds 1 Yr Performance ended Dec 31, 08. Total Schemes in Category = 15

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

37

Birla Sun Life Dynamic Bond Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An Open-ended income scheme with the objective to generate optimal returns with high liquidity through active management of the portfolio by investing in high quality debt and money market instruments.

High

Rating Profile

Investment Performance

Mid 16

Low

14.32 14 12 10.30

Fund Details : : : : :

Mr. Maneesh Dangi September 12, 2007 6 years September 27, 2004 An Open-ended Income Scheme

Key Features Default option : Quarterly Dividend Reinvestment Retail Monthly Dividend Sweep Option Fresh Purchase : Rs. 5 lacs Additional Purchase : Rs. 1000/For Other Option Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/For Discipline Advantage : The sum of transfer amounts as ++ Plan per the frequency opted or Rs. 10,000/- whichever is greater. Additional Purchase : Rs. 1000/Redemption Cheques : Within 10 working days issued Systematic Investment : Available Plan (SIP) Systematic Withdrawal : Available Plan (SWP) Systematic Transfer : Not Available Plan (STP)

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

10.58

85.66%

AAA

10

8.63

8

7.21 6.07

6

11.23%

Cash & Current Assets

4 2 0

AA 1 Year

3 Years

Birla Sun Life DBF - Retail - Growth

3.10%

Since Inception

Crisil Composite Bond Fund Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation Issuer

% to Net Assets

Rating

Issuer

% to Net Assets

Rating

Indian Railway Finance Corporation Ltd.**

2.65

AAA

Rural Electrification Corporation Ltd.**

2.36

AAA

Money Market Instruments

51.63

Punjab National Bank

10.77

PR1+

Canara Bank

9.13

P1+

Power Finance Corporation Ltd.**

2.25

AAA

State Bank of Indore

3.37

P1+

Indian Railways Finance Corporation Ltd.**

2.11

AAA

Oriental Bank of Commerce

3.32

P1+

National Bank for Agriculture & Rural Development**

1.31

AAA

Allahabad Bank

2.90

A1+

National Housing Bank**

1.19

AAA

IDBI Bank Ltd.

2.67

P1+

Indian Railway Finance Corporation Ltd.**

1.16

AAA

Plans / Options & NAV (as on April 29, 2009) Retail Growth : 14.6188 Retail Quarterly Dividend : 11.1447

Dena Bank

2.66

P1+

Export-Import Bank of India**

1.13

AAA

Allahabad Bank

2.28

P1+

Power Finance Corporation Ltd.**

0.42

AAA

(Payout / Reinvestment)

State Bank of Hyderabad

2.27

A1+

National Bank for Agriculture & Rural Development**

0.15

AAA

Export-Import Bank of India

2.01

A1+

NHPC Ltd.**

0.14

AA+

Punjab and Sindh Bank

2.01

P1+

Infrastructure Development Finance Company Ltd.**

0.09

AAA

Corporation Bank

1.75

P1+

Indian Bank

1.35

F1+

Corporate Debt

CRISIL Composite Bond Fund Index Rs. 2549.83 Crores

UCO Bank

1.34

P1+

Housing Development Finance Corporation Ltd.**

6.68

AAA

State Bank of Patiala

1.09

P1+

Reliance Industries Ltd.**

4.37

AAA

Syndicate Bank

1.09

PR1+

Nil

Bank of Baroda

0.94

A1+

State Bank of Bikaner and Jaipur

0.68

P1+

Retail Monthly Dividend

:

10.4155

(Payout / Reinvestment)

Retail Monthly Dividend sweep option also available (w.e.f Jan 12, 2009) Discipline Advantage Plan : (w.e.f Mar 30, 2009)++ Benchmark Average AUM

: :

Load Structure (Incl. for SIP) Entry Load : Exit Load**

:

10.1124

For Purchase / Switch-in of units less than Rs. 5 lacs in value: 0.50% if redeemed/switched-out within 6 months, For Purchase / Switch-in of equal to / greater than Rs. 5 Lacs but less than Rs. 5 crores in value: 0.50% if redeemed/switched-out within 3 months, For Purchase / Switch-in of units equal to or greater than Rs. 5 crores in value: 0.50% if redeemed/switched-out within 1 month, from the date of allotment

LIC Housing Finance Ltd.**

2.79

AAA

Housing Development Finance Corporation Ltd.**

1.29

AAA

Cash & Current Assets PSU/PFI Bonds/Banks

: : :

2.00 Years 1.80 Years 7.75%

: :

50% 4.30%

Power Finance Corporation Ltd.**

4.09

AAA

IDBI Bank Ltd.**

2.96

AA+

Total Net Assets

** Represents thinly traded/ non traded securities and illiquid securities.Total Percentage of thinly/non traded securities is 37.13 %.

7-Star Award by ICRA@ Birla Sun Life Dynamic Bond Fund Open Ended Debt - Short Term (17 Schemes), 1 year ended 31-Dec-08

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer ++ For further details on the Discipline Advantage Plan please refer to addendum dated March 20, 2009

38

11.23

22.00

**Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Modified Duration Yield to Maturity (for Debt Component) Mark to Market Standard Deviation

15.13

i i i Value Research Rating# i i Birla Sun Life Dynamic Bond Fund Debt: Medium Term (40 Schemes), 18 months & 3 years ended 30-Apr-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

100.00

Birla Sun Life Income Plus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended income scheme with the objective to generate consistent income through superior yields on its investments at moderate levels of risk through a diversified investment approach.

High

Rating Profile

Investment Performance

Mid 20

Low

18.35

18 16

Key Features Default option Fresh Purchase Additional Purchase For Discipline Advantage ++ Plan Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Maneesh Dangi November 30, 2007 6 years October 21, 1995 An Open-ended Income Scheme

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

12 10

12.25 11.02

10.30

:

Dividend Reinvestment Rs. 5000/Rs. 1000/The sum of transfer amounts as per the frequency opted or Rs. 10,000/- whichever is greater. Within 10 working days

:

Available

:

Available

:

Not Available

Plans / Options & NAV (as on April 29, 2009) Growth : 41.1620 Dividend : 11.6223 (Payout & Reinvestment) Discipline Advantage Plan ++ w.e.f Mar 04,2009

:

10.3811

Benchmark

:

Average AUM

:

CRISIL Composite Bond Fund Index Rs. 2567.73 Crores

Load Structure (Incl. for SIP) Entry Load : Nil

38.74%

AAA

8

7.81

7.21

6

5.06 2.72%

Cash & Current Assets

4 2 0

1 Year

3 Years

Birla Sun Life Income Plus Growth

: : : :

58.36%

Sovereign

14

Fund Details

5 Years

Since Inception

AA

0.18%

CRISIL Composite Bond Fund Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation

Government Bond 08.24 CGL 2027 07.46 CGL 2017 8.46 MAHARASHTRA SDL 12-MAR-2009 07.94 CGL 2021 8.57 UP SDL 12-Mar-2019 07.95 CGL 2032 07.99 CGL 2017 06.83 GOVT.STOCK 2039 08.20 CGL 2022 8.49 KARNATAKA SDL 18-Mar-2019 08.35 CGL 2022 08.33 CGL 2036 7.56 GOVT.STOCK 2014 07.49 CGL 2017 07.50 CGL 2034 08.28 GOVT.STOCK 2032 6.05 Govt. Bond 2019

Issuer

% to Net Assets 58.36 22.49 9.60 6.08 2.99 2.98 2.69 2.27 2.18 1.84 1.61 1.40 0.47 0.45 0.44 0.43 0.23 0.21

PSU/PFI Bonds/Banks Indian Railway Finance Corporation Ltd.**

34.96 16.05

Rating

Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign

Issuer NABARD** Power Finance Corporation Ltd.** Power Grid Corporation of India Ltd.** Rural Electrification Corporation Ltd.** Export Import Bank of India** IDBI Bank Ltd.**

% to Net Assets 9.61 3.78 3.53 1.49 0.32 0.18

Rating AAA AAA AAA AAA AAA AA+

Corporate Debt Housing Development Finance Corporation Ltd.** Reliance Gas Transportation Infrastructure Ltd.** Infrastructure Leasing and Financial Services Ltd.** Reliance Industries Ltd.**

3.49 2.98 0.45 0.04 0.01

AAA AAA LAAA(So) AAA

Money Market Instruments Canara Bank Union Bank of India

0.48 0.32 0.16

P1+ P1+

Cash & Current Assets

2.72

Total Net Assets

100.00

AAA

** Represents thinly traded/ non traded securities and illiquid securities.Total Percentage of thinly/non traded securities is 38.45 %.

Exit Load**

:

£ Rs.10 Lacs 1% if redeemed switched out within 365 days from the date of allotment > Rs. 10 lacs 0.25% if redeemed switched out within 7 days from the date of allotment **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Modified Duration (for Debt Component) Yield to Maturity (for Debt Component) Mark to Market Standard Deviation

: :

12.12 Years 7.50 Years

:

7.00%

: :

93% 17.93%

CRISIL~CPR 1^^

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer ++ For further details on the Discipline Advantage Plan please refer to addendum dated March 03, 2009 and March 08, 2009

CRISIL~CPR 1^^

Birla Sun Life Income Plus

Birla Sun Life Income Plus

Income Scheme (23 Schemes), 2 Yrs ended 31-Mar-09

Consistent CPR Performer-Debt (12 Schemes), 5 Yrs ended 31-Mar-09

5-Star Award by ICRA

@

Birla Sun Life Income Plus Open Ended Debt - Long Term (21 Schemes), 3 year ended 31-Dec-08 (Past performance is no guarantee of future results.) for ranking methodology please refer page 48

39

Birla Sun Life Income Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended income scheme with the objective to generate income and capital appreciation by investing 100% of the corpus in a diversified portfolio of debt and money market securities.

High

Rating Profile

Investment Performance

Mid 14

Low

12

12.20 11.22

49.97%

Sovereign

10.38

10.30 10

Fund Details

Key Features Default option Fresh Purchase Additional Purchase For Discipline Advantage Plan ++ Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

: : : : :

Mr. Satyabrata Mohanty November 30, 2007 10 years March 3, 1997 An Open-ended Income Scheme

: : : :

:

Dividend Reinvestment Rs. 5000/Rs. 1000/The sum of transfer amounts as per the frequency opted or Rs. 10,000/- whichever is greater. Within 10 working days

:

Available

:

Available

:

Not Available

(Payout & Reinvestment)

:

11.6231

54 EA Growth 54 EA Dividend 54 EB Growth 54 EB Dividend

: : : :

Discipline Advantage Plan ++ w.e.f Mar 04,2009

:

33.2244 14.6404 33.0151 14.6559 10.2079

(Payout & Reinvestment)

Benchmark

:

Average AUM

:

Load Structure (Incl. for SIP) Entry Load : Exit Load** :

CRISIL Composite Bond Fund Index Rs. 898.11 Crores

7.50

7.21

46.56%

AAA

6

5.06

4 Cash & Current Assets

2.13%

2 0

1 Year

5 Years

3 Years

Birla Sun Life Income Fund Growth

Plans / Options & NAV (as on April 29, 2009) Growth : 33.2474 Quarterly Dividend : 11.1061 Half Yearly Dividend

8

% Returns

Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

Since Inception AA

CRISIL Composite Bond Fund Index

1.34%

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation Issuer

% to Net Assets 49.97

Government Bond

Rating

Issuer

% to Net Assets 1.34

IDBI Bank Ltd.**

Rating AA+

07.50 CGL 2034

10.48

Sovereign

07.46 CGL 2017

8.62

Sovereign

Money Market Instruments

7.56 GOVT.STOCK 2014

8.34

Sovereign

State Bank of Hyderabad

5.06

A1+

6.05 Govt. Bond 2019

7.16

Sovereign

Canara Bank

4.75

P1+

06.83 GOVT.STOCK 2039

6.82

Sovereign

UCO Bank

2.81

P1+

8.46 MAHARASHTRA SDL 12-MAR-2009

3.95

Sovereign

Syndicate Bank

1.38

PR1+

8.57 UP SDL 12-Mar-2019

3.94

Sovereign

08.24 CGL 2027

0.66

Sovereign

PSU/PFI Bonds/Banks

31.05

Indian Railway Finance Corporation Ltd.**

15.39

AAA

NABARD**

5.05

AAA

National Housing Bank**

4.40

AAA

Power Finance Corporation Ltd.**

3.19

AAA

Rural Electrification Corporation Ltd.**

1.68

AAA

14.01

Corporate Debt

2.84

Housing Development Finance Corporation Ltd.**

2.19

AAA

Reliance Gas Transportation Infrastructure Ltd**

0.65

AAA

Cash & Current Assets

2.13

Total Net Assets

100.00

** Represents thinly traded/ non traded securities and illiquid securities.Total Percentage of thinly/non traded securities is 33.89 %.

Nil < Rs. 1 crore - 1% if redeemed / switched out within 365 days > Rs. 1 crore - Nil **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Modified Duration (for Debt Component) Yield to Maturity (for Debt Component) Mark to Market Standard Deviation Retail Plan 54 EA Growth 54 EB Growth

: :

10.69 Years 7.00 Years

:

6.95%

:

92%

: : :

17.25% 17.25% 17.25%

&&

CNBC TV-18 CRISIL AWARD 2008 Birla Sun Life Income Fund - Growth

Winner of

Best Fund - 3 yrs performance Lipper Awards India 2009&

Category: Income scheme 1 Yr Performance ended Dec 31, 08. Total Schemes in Category = 17 Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer ++ For further details on the Discipline Advantage Plan please refer to addendum dated March 03, 2009 and March 08, 2009

40

Birla Sun Life Income Fund - Growth 9

Winner of

CRISIL~CPR 2^^

Best Fund - 10 yrs performance Lipper Awards India 2009&

Birla Sun Life Income Fund Income Scheme (23 Schemes), 2 Yrs ended 31-Mar-09

Bond INR General, (99 schemes) 3 Yrs Performance (2005-2008)

Birla Sun Life Income Fund - Growth 9

Bond INR General, (16 schemes) 10 Yrs Performance (1998-2008)

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

Birla Sun Life Floating Rate Fund M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

The primary objective of the schemes is to generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments. The schemes may invest a portion of its net assets in fixed rate debt securities and money market instruments.

High

10

Low

8.87 8.89

9

8.28

8

7.59

7.06

7

Fund Details Mr. Satyabrata Mohanty 10 years June 05, 2003 An Open-ended Income Scheme

% Returns

: : : :

4 3 2 Cash & Current Assets

1 1 Year

3 Years

Short Term Plan Growth Daily Dividend (Reinvestment) Dividend (Reinvestment) Institutional Plan Growth Daily Dividend (Reinvestment) Fortnightly Dividend

: 14.5023 : 10.0015 : 10.3826 : 11.6768 : 10.0000 : 10.0000

(Reinvestment)

Weekly Dividend (Reinvestment) : 10.0156 Benchmark Average AUM Long Term Plan Short Term Plan

5 Years

: CRISIL Liquid Fund Index : Rs. 748.96 Crores : Rs. 64.23 Crores

Load Structure Long Term Plan (Incl. for SIP) Entry Load* : For Purchase/Switch in of units: 1.00% of the applicable NAV Exit Load** : For redemption/ switch out of units within 365 days: 2.00% of applicable NAV Short Term Plan Entry Load : Nil Exit Load : Nil

2.34%

Since Inception

CRISIL Liquid Fund Index

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.

Rating Profile - Short Term Plan

Investment Performance - Short Term Plan 12 10.20

10

8.44

7.92

8 6

5.79

76.79%

AAA 6.59

6.50

5.75

6.10 15.27%

Cash & Current Assets

4 2 0

7.94%

AA 15 days

1 Month

Birla Sun Life Floating Rate Fund - STP - Growth

Plans / Options & NAV (as on April 29, 2009) Long Term Plan Growth : 14.7263 Daily Dividend (Reinvestment) : 10.0050 Weekly Dividend (Reinvestment) : 10.0101 Monthly Dividend (Reinvestment): 10.4125 Institutional Plan Growth : 10.0852

97.66%

AAA

Birla Sun Life Floating Rate Fund - LTP - Growth

: Dividend Reinvestment : Appln of less than Rs. 5 cr - Daily Dividend Reinvestment Appln of equal to or greater than Rs. 5 cr - Institutional Plan - Daily Dividend Reinvestment Short Term & Long Term (Retail Plan): Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/Long Term - Institutional Plan: Fresh Purchase : Rs. 2 Crore Additional Purchase : Rs. 1 Lac Short Term - Institutional Plan Fresh Purchase : Rs. 5 Crore Additional Purchase : Rs. 1 Lac Redemption Cheques : Within 10 working days issued SIP : Available### SWP : Available STP : Available

6.10

5

0

Key Features Default option Long Term Plan Short Term Plan

6.78

6.44

6

% Returns

Fund Manager Total Experience Date of inception Nature of the scheme

Rating Profile - Long Term Plan

Investment Performance - Long Term Plan

Mid

3 Months

Since Inception

CRISIL Liquid Fund Index

Past performance may or may not be sustained in future. Returns are in % and simple annualized for period less than 1 year & CAGR for period 1 year or more.

Portfolio & Asset Allocation - Long Term Plan Issuer

% to Net Assets 96.32 23.61 18.75 12.69 12.57 11.63 11.15 3.14 1.90 0.64 0.13 0.13

Money Market Instruments ICICI Bank Ltd. UCO Bank State Bank of Hyderabad Federal Bank Ltd. Reliance Capital Ltd. ING Vysya Bank Ltd. Syndicate Bank ONGC Videsh Ltd. Canara Bank Export-Import Bank of India Punjab National Bank Floating Rate Instruments Housing Development Finance Corporation Ltd.

1.33 1.33

Cash & Current Assets

2.34

Total Net Assets

Portfolio & Asset Allocation - Short Term Plan

Rating

Issuer

% to Net Assets 62.49

Money Market Instruments A1+ P1+ A1+ P1+ A1+ P1+ PR1+ P1+(SO) A1+ A1+ F1+

Rating

IDBI Bank Ltd.

18.11

P1+

Export-Import Bank of India

16.41

AAA

Federal Bank Ltd.

15.85

P1+

Canara Bank

6.82

A1+

Infrastructure Development Finance Company Ltd.

3.75

A1+

State Bank of Patiala

1.55

A1+

Floating Rate Instruments

22.24

Housing Development Finance Corporation Ltd.

11.12

AAA

CitiFinancial Consumer Finance India Ltd.

7.94

AA

ICICI Bank Ltd.

3.18

AAA

AAA

100.00

Cash & Current Assets

15.27

Total Net Assets

100.00

*For direct application: Entry Load is Nil. **Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

Other Parameter Average Maturity Long Term Plan Short Term Plan Yield to Maturity (for Debt Component) Long Term Plan Short Term Plan Mark to Market Long Term Plan Short Term Plan Standard Deviation Long Term Plan Short Term Plan Short Term Plan(IP)

: : 0.45 Years : : 6.35 % : : : 0.24 % : 0.49% : 0.49%

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

#

i i i i Value Research Rating

CRISIL~CPR 2^^

Birla Sun Life Floating Rate Fund - Long Term Retail Plan

Birla Sun Life Floating Rate Fund - Long Term Plan

Debt: Floating Rate Long Term (10 Schemes), 18 months & 3 years ended 30-Apr-09

Ultra Short Term Debt Scheme ( 29 Schemes), 1 Yr ended 31-Mar-09

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

### Not Available for Birla Sun Life Floating Rate Fund - Short Term Plan

41

Birla Sun Life Gilt Plus

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended government securities scheme with the objective to generate income and capital appreciation through investments exclusively in Government Securities.

High

Rating Profile - Liquid Plan

Investment Performance - Liquid Plan

Mid

16

Low

14.64

14

Fund Details Fund Manager

:

Managing Fund Since Total Experience Date of inception Nature of the scheme

: : : :

5.37

3 Years

5 Years

2

Cash & Current Assets

0

98.48%

1 Year

Birla Sun Life Gilt Plus - LP

1.52%

Since Inception

I-Sec SI-BEX

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

: : : :

Growth Rs. 5000/Rs. 1000/Within 10 working days

:

Available

:

Available

20

:

Available

15

:

22.92

Sovereign 9.66 8.22

7.30

6.73 4.29

5

1 Year

10.1198

:

24.1272

:

10.4291

:

19.0859

11.90%

Cash & Current Assets

10.2816

(Payout & Reinvestment)

88.10%

11.58 10

0

:

Rating Profile - PF Plan

Investment Performance - PF Plan 25

(Quarterly Gain & Annual Gain)

Annual Dividend Option

5.74 4.22

4

(Payout & Reinvestment)

PF Plan Growth

Sovereign 7.69

7.53

8

Mr. Satyabrata Mohanty & Mr. Maneesh Dangi November 30, 2007 10 years & 6 years October 12, 1999 An Open-ended Government Securities Scheme

Plans / Options & NAV (as on April 29, 2009) Liquid Plan Growth : 20.2912 Dividend

9.61

10

6

% Returns

Key Features Default option Fresh Purchase Additional Purchase Redemption Cheques issued Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP)

% Returns

12

3 Years

Birla Sun Life Gilt Plus - PF

5 Years

Since Inception

I-Sec LI-BEX

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

(Quarterly Gain & Annual Gain)

Dividend (Payout & Reinvestment)

Annual Dividend Option

Rating Profile - Regular Plan

Investment Performance - Regular plan

(Payout & Reinvestment)

Regular Plan Growth

25

:

31.2276

:

12.5332

20

:

24.4010

15

(Quarterly Gain & Annual Gain)

Dividend

22.92 20.06

Annual Dividend Option (Payout & Reinvestment)

Benchmark Liquid Plan PF Plan Regular Plan Average AUM Liquid Plan PF Plan Regular Plan

: : : :

I-Sec SI-BEX I-Sec LI-BEX I-Sec LI-BEX

: : :

Rs. 16.28 Crores Rs. 71.77 Crores Rs. 287.23 Crores

12.36

**Exit / Entry Load is NIL for units issued in Bonus & Dividend Reinvestment.

0.26 Years 16.24 Years 13.52 Years

: : :

0.26 Years 9.00 Years 8.00 Years

: : :

4.30 % 6.30 % 6.60 %

: : :

88 % 86 %

: : :

1.58 % 19.26 % 16.96 %

7.79 7.30

Cash & Current Assets 1 Year

3 Years

Birla Sun Life Gilt Plus - RP

5 Years

I-Sec LI-BEX

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Portfolio & Asset Allocation - Liquid Plan Issuer

% to Net Assets

Treasury Bills 182 Days T - Bill 18-Sep-2009 91 DAY T-Bill 08 MAY 2009

98.48 65.34 33.14

Total Net Assets

Portfolio & Asset Allocation - PF Plan Rating

1.52 100.00

Issuer

Cash & Current Assets Total Net Assets

% to Net Assets 85.68 22.48 20.10 19.12 16.34 5.71 1.93

% to Net Assets 88.10

08.24 CGL 2027

30.62

Sovereign

21.52

Sovereign

08.35 CGL 2022

15.56

Sovereign

6.05 Govt. Bond 2019

13.78

Sovereign

6.62

Sovereign

Cash & Current Assets

Rating

Sovereign Sovereign Sovereign Sovereign Sovereign Sovereign

14.32 100.00

Birla Sun Life Gilt Plus - Regular Plan Gilt Medium & Long Term Schemes (28 Schemes), 18 months & 3 years ended 30-Apr-09

Rating

07.50 CGL 2034

06.83 GOVT.STOCK 2039

Portfolio & Asset Allocation - Regular Plan

Government Bond 07.46 CGL 2017 08.24 CGL 2027 06.83 GOVT.STOCK 2039 08.35 CGL 2022 07.47 OIL MKT CO GOI BOND 2012 07.27 CGL 2013

Issuer Government Bond

Sovereign Sovereign

#

42

14.32%

Since Inception

i i i i Value Research Rating Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

85.68%

5

Cash & Current Assets

: : :

Sovereign

12.66

11.58

10

0

Load Structure (Incl. for SIP) Liquid Plan, Regular Plan & PF Plan - Quarterly / Annual Dividend Entry Load : Nil Exit Load : Nil PF Plan - Growth Entry Load : Nil Exit Load** : 1% if redeemed / switched out within 365 days from the date of allotment Other Parameter Average Maturity Liquid Plan PF Plan Regular Plan Modified Duration (for Debt Component) Liquid Plan PF Plan Regular Plan Yield to Maturity (for Debt Component) Liquid Plan PF Plan Regular Plan Mark to Market Liquid Plan PF Plan Regular Plan Standard Deviation Liquid Plan PF Plan Regular Plan

% Returns

(Payout & Reinvestment)

11.90

Total Net Assets

100.00

CNBC TV-18 CRISIL AWARD 2008&& Birla Sun Life Gilt Plus - Regular Plan Category: Gilt 1 Yr Performance ended Dec 31, 08. Total Schemes in Category = 11

5-Star Award by ICRA

@

Birla Sun Life Gilt Plus Regular Plan Open Ended Gilt (22 Schemes), 3 year ended 31-Dec-08

CRISIL~CPR 2^^ Birla Sun Life Gilt Plus - Regular Plan Gilt Scheme (19 Schemes), 2 Yrs ended 31-Mar-09 (Past performance is no guarantee of future results.) for ranking methodology please refer page 48

Birla Sun Life Government Securities Fund

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective

Credit Quality

High

Med

Low

Interest Rate Sensitivity

An open-ended Gilt scheme with the objective to provide investors current income consistent with a portfolio invested 100% in securities issued by the Government of India or the State Governments, and the secondary objective is capital appreciation.

High

30

Low

25

Key Features Default option : Growth For Short Term Retail Plan & Long Term Plan Fresh Purchase : Rs. 5000/Additional Purchase : Rs. 1000/For Short Term Institutional Plan Fresh Purchase : Rs. 5 crores Additional Purchase : Rs. 1 lacs Redemption Cheques : Within 10 working days issued Systematic Investment : Available Plan (SIP) Systematic Withdrawal : Available Plan (SWP) Systematic Transfer : Available Plan (STP)

% Returns

Mr. Maneesh Dangi September 12, 2007 6 years October 28, 1999 An Open-ended Gilt Scheme

22.92

11.58

(Payout & Reinvestment)

Short Term Plan - Retail Growth Dividend

5.74

7.30 45.08%

Sovereign 0

1 Year

3 Years

5 Years

Birla Sun Life G-Sec Fund - LTP - Growth

Since Inception

I-Sec Li-BEX

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

Rating Profile - Short Term Plan

Investment Performance - Short Term Plan 16

14.64

14 12 9.61

10 6.34 6

6.18

5.65 3.94

2 0

55.84%

Cash & Current Assets 7.53

8

Sovereign 1 Year

3 Years

Birla Sun Life G-Sec Fund - STP - Growth

5 Years

44.16%

Since Inception

I-Sec Si-BEX

Past performance may or may not be sustained in future. Returns are in % and absolute returns for period less than 1 year & CAGR for period 1 year or more.When benchmark returns are not available, they have not been shown.

: :

17.6793 10.1033

(Payout & Reinvestment)

Daily Dividend

10.05

9.35

10

4

Plans / Options & NAV (as on April 29, 2009) Long Term Plan Growth : 24.8668 Dividend : 11.2474

54.92%

Cash & Current Assets

15

5

% Returns

: : : : :

25.42

20

Fund Details Fund Manager Managing Fund Since Total Experience Date of inception Nature of the scheme

Rating Profile - Long Term Plan

Investment Performance - Long Term Plan

Mid

:

10.0175

:

10.0212

:

10.0000

Portfolio & Asset Allocation - Long Term Plan

Portfolio & Asset Allocation - Short Term Plan

(Reinvestment)

Weekly Dividend (Reinvestment)

Institutional Daily Dividend (Reinvestment)

Benchmark Short Term Long Term Average AUM Long Term Plan Short Term Plan

: :

I-Sec SI-BEX I-Sec LI-BEX

: :

Rs. 10.48 Crores Rs. 15.61 Crores

Load Structure (Incl. for SIP) Entry Load : Exit Load : Other Parameter Average Maturity Long Term Plan Short Term Plan Modified Duration (for Debt Component) Long Term Plan Short Term Plan Yield to Maturity (for Debt Component) Long Term Plan Short Term Plan Mark to Market Long Term Plan Short Term Plan Standard Deviation Long Term Plan Short Term Plan

Issuer

% to Net Assets

Government Bond 7.56 GOVT.STOCK 2014

45.08 45.08

Cash & Current Assets

54.92

Total Net Assets

100.00

Rating

Sovereign

Issuer

% to Net Assets

Treasury Bills 182 Days T - Bill 18-Sep-2009

44.16 44.16

Cash & Current Assets

55.84

Total Net Assets

Rating

Sovereign

100.00

Nil Nil

: :

2.49 Years 0.18 Years

: :

1.00 Years 0.18 Years

: :

5.00% 3.75%

: :

45% -

: :

8.95% 1.33%

Note: Standard Deviation is calculated on annualised basis using 1 year history of monthly returns, source: MFI Explorer

43

India Advantage Fund Ltd. (For Non-Resident Indians and Other Eligible Foreign Investors)

M a y 2 0 0 9

As on April 30, 2009

Investment Style Box

Investment Objective An open-ended growth scheme with the objective of long-term appreciation through investment primarily in equity related securities of companies in India that are run by efficient management, have a sustainable and robust business model and are available at reasonable valuations.

Investment Style Value

Blend

Growth

Size Large Mid

Investment Performance

Small

Asset Allocation

CAGR Returns (%)

30 20

Fund Details

Key Features Default Option Minimum Subscription Additional Subscription Systematic Investment Plan (SIP) Load Structure Subscription Charge Redemption Charge

: : : : :

1 Year

Returns %

Fund Manager Date of inception Nature of the scheme Managing Since Total Experience

Mr. Ajay Argal August 8, 1996 An Open - ended Growth Scheme January 10, 2006 15 Years

17.90

14.10

20.97

21.18

Financials

12.75

-9.60

5 Year

-5.46

10 Year

15.27%

Petroleum Products Other Equity

3 Year

0 -10

12.64% 11.94% 10.37%

Telecom-Services Since Inception

10.00%

Software Industrial Capital Goods

-20 -30

Consumer Non Durables Pharmaceuticals

-40

Oil & Gas

9.46% 6.92% 5.07% 4.89%

Power

-46.36 -49.29

-50

4.74%

Construction

-60

India Advantage Fund

MSCI (India)

3.58%

Net receivables / payables

: Cumulative/ Growth : USD 5000 : In multiples of USD 1000 : No

2.99%

Cash & Cash Equivalents

Returns are in % and CAGR returns for period 1 year or more. The returns for IAF & MSCI (India) are in US Dollars.

2.13%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00% 16.00% 18.00%

Portfolio Name of the Security

Sector

Percentage of Portfolio

Name of the Security

: MU0196S00230 : INDADVC: MP : BK94

Sector

Percentage of Portfolio 1.48

Punj Lloyd Ltd

Construction

Reliance Industries Ltd

Petroleum Products

9.72

BPCL Ltd

Oil & Gas

1.46

Bharti Airtel Ltd

Telecom Services

8.08

L&T Ltd

Construction

1.37

Infosysy Technologies Ltd

Software

7.02

Oriental Bank of Commerce Ltd

Financials

1.27

ONGC Ltd

Oil & Gas

4.90

Engineer's India Ltd

Engineering

1.23

ITC Ltd

Consumer Non Durables

4.88

Bharat Earth Movers Ltd

Industrial Capotal Goods

1.15

BHEL Ltd

Industrial Capotal Goods

4.09

Reliance Infrastructure Ltd

Power

1.10

ICICI Bank Ltd

Financials

3.52

Tata Chemicals Ltd

Chemicals

0.91

TCS Ltd

Software

2.79

IVRCL Infrastructure Ltd

Construction

0.73

Dr Reddy's Laboratories Ltd

Pharma

2.66

Maharashtra Seamless Ltd

Metals

0.49

HDFC Bank Ltd

Financials

2.50

Solar Explosives Ltd

Chemicals

0.35

Bharat Electronics Ltd

Industrial Capotal Goods

2.45

Subex Ltd

Software

0.22

Sun Pharmaceuticals Lts

Pharma

2.42

DLF Ltd

Construction

0.00

Reliance Communications Ltd

Telecom Services

2.32

EQUITY INVESTMENTS

: 4% Max : None

Options & NAV (as on April 29, 2009) NAV (per Class C Share) : US $114.63 Benchmark : BSE Sensex and MSCI (India) Average AUM : US $ 77.96 Million Other Resources Euroclear Bloomberg Ticker Code Citicode Lippers Trustnet Offshore Morningstar.com

9.73

10

HDFC Ltd

Financials

2.31

CALL & CALL EQUIVALENTS :

Axis Bank Ltd

Financials

2.23

Bank CDs

Money Market Instruments

0.77

ACC Ltd

Cement

2.08

CBLO

Money Market Instruments

1.13

Nestle India Ltd

Consumer Non Durables

2.05

Trent Ltd

Non - Convertible Debt

0.24

NTPC Ltd

Power

2.02

Hindustan Unilever Ltd

Consumer Non Durables

2.01

State Bank of India Ltd

Financials

1.96

Suzlon Energy Ltd

Industrial Capotal Goods

1.79

Chambal Fertilizers & Chemicals Ltd

Fertilizers

1.69

CESC Ltd

Power

1.63

Great Eastern Shipping Co Ltd

Transportation

1.60

United Phosphorous Ltd

Pesticides

1.60

IDFC Ltd

Financials

1.51

HPCL Ltd

Oil & Gas

1.49

TOTAL

97.22

OTHER NET ASSETS (SUB FUND)

3.00

OTHER NET ASSETS (MAIN FUND)

-0.22

NET ASSETS

100.00

Investment via sub-fund, India Advantage (Offshore) Fund, are stated at market/fair value at the date of determination. Securities listed on a recognised stock exchange are valued at the last quoted closing price on the principal exchange on which the security istraded Non-traded securities are valued at amortised cost and/or fair value as determined in good faith by Birla Sun Life Asset Management Company Limited, India.

IAF Calender year performance YTD IAF MSCI India

i i i i Morningstar Rating™

44

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996*

7.42%

-62.12%

62.88%

37.54%

33.37%

51.54%

153.01%

10.47%

-24.31%

-39.24%

179.45%

36.06%

24.20%

2.30%

17.59%

-65.07%

71.23%

48.95%

35.38%

16.46%

73.92%

5.93%

-21.17%

-22.82%

84.67%

-22.89%

9.59%

-13.62%

Bloomberg Ticker Code:

Also listed on

INDADVC MP

“Channel Islands Stock Exchange (CISX)”

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

Ranked 11th among Top Performing Equity Funds in the world by Lipper& India Advantage Fund

Equity Funds (6302 funds), 10 yrs ended 31 Dec 07

Dividend History (For select Schemes)

M a y 2 0 0 9

EQUITY SCHEMES EQUITY SCHEMES

Declared on date

Birla Sun Life Advantage Fund Total dividend declared since inception (Feb 24, 1995) = 325%

22-Mar-00 28-Nov-03 23-Jan-04 12-Mar-04 23-Mar-05 16-Dec-05 25-Apr-08

Birla Sun Life Dividend Yield Plus Total dividend declared since inception (Feb 26, 2003) = 178%

30-May-03 13-Jun-03 24-Jul-03 19-Sept-03 31-Oct-03 26-Dec-03 13-Feb-04 28-Sep-04 24-Dec-04 11-Mar-05 1-July-05 28-Oct-05 13-Jan-06 27-April-06 10-Oct-06 30-April-07 1-Nov-07

Birla Sun Life Tax Plan Total dividend declared since inception (Feb 16, 1999) = 245%

17-Oct-03 26-Mar-04 21-Oct-05 16-Dec-05 17-Feb-06 28-Mar-08 20-Mar-09

Birla Sun Life Index Fund Total dividend declared since inception (Sept 18, 2002) = 137.5% Birla Sun Life India GenNext Fund Birla Sun Life India Opportunities Fund Total dividend declared since inception (Dec 27, 1999) = 147.50%

Dividend (%)

Dividend# (Rs. per unit)

80 30 20 25 50 50 50

8.00 3.00 2.00 2.50 5.00 5.00 5.00

Face value (Rs.)

Cum Dividend NAV (Rs. per unit)

10.00 10.00 10.00 10.00 10.00 10.00 10.00

70.37 44.88 47.33 46.10 54.25 65.89 100.44

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

11.84 10.88 11.62 12.09 11.87 13.93 12.58 11.57 13.75 12.85 11.26 11.94 11.89 13.07 11.67 11.20 12.77

325

32.5

8 5 12 18 10 15 10 8 14 10 8 8 16 10 8 8 10

0.80 0.50 1.20 1.80 1.00 1.50 1.00 0.80 1.40 1.00 0.80 0.80 1.60 1.00 0.80 0.80 1.00

178

17.80

15 15 40 40 40 60 45

1.50 1.50 4.00 4.00 4.00 6.00 4.50

10.00 10.00 10.00 10.00 10.00 10.00 10.00

24.89 26.90 42.10 46.50 44.54 64.23 31.70

17-Oct-03 03-Feb-04 23-Mar-07

245 56 16.5 65

24.50 5.60 1.65 6.50

10.00 10.00 10.00

16.19 11.99 21.83

25-Apr-08 04-Feb-00 14-Jan-03 27-Feb-04 26-Oct-04 16-Sep-05

137.5 10 25 10 60 12.5 40

13.75 1.00 2.50 1.00 6.00 1.25 4.00

10.00 10.00 10.00 10.00 10.00 10.00

16.14 28.97 12.16 18.69 14.17 14.90

147.5

14.75

Birla Sun Life Midcap Fund Total dividend declared since inception (Oct 3, 2002) = 242.50%

19-Jun-03 22-Jul-03 24-Dec-03 8-Oct-04 28-Jan-05 3-Feb-06 22-Dec-06 28-Dec-07 27-Jun-08

10 10 60 12.5 10 20 35 60 20 242.5

1.00 1.00 6.00 1.25 1.00 2.00 3.50 6.00 2.00 24.25

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

11.83 11.81 18.35 13.72 14.75 22.59 25.94 40.50 20.85

Birla Sun Life MNC Fund

5-Feb-00 22-Feb-02 29-Aug-03 18-Jan-05 26-Aug-05

25 40 50 50 75 240

2.50 4.00 5.00 5.00 7.50 24.00

10.00 10.00 10.00 10.00 10.00

0.00 27.16 30.58 42.80 41.05

Birla Sun Life Basic Industries Fund Total dividend declared since inception (Jan 15, 2000) = 295%

31-Mar-04 07-Oct-04 24-Mar-06 19-Jan-07 25-Apr-08

25.70 25.02 35.08 39.60 36.36

28-Mar-06 30-Sept-99 28-Mar-00 29-Sept-00 20-Mar-01 28-Sept-01 20-Mar-02 21-Oct-02 24-Mar-03 30-Sept-03 08-Mar-04 20-Oct-04 10-Feb-06 23-Mar-07 31-Aug-07

2.50 2.00 10.00 10.50 2.00 29.50 7.50 3.00 5.00 2.50 1.00 1.00 1.00 0.50 0.50 1.00 3.00 1.00 5.00 10.00 10.00

10.00 10.00 10.00 10.00 10.00

Birla Sun Life Buy India Fund Birla Sun Life Equity Fund

25 20 100 105 20 295 75 30 50 25 10 10 10 5 5 10 30 10 50 100 100

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

17.54 25.86 51.08 28.65 18.97 12.79 17.13 14.07 14.37 22.96 30.91 30.02 58.94 74.45 79.98

445

44.50

20 10 80 60 40 20 230 10 500 250 260 500 200 50

2.00 1.00 8.00 6.00 4.00 2.00 23.00 1.00 50.00 25.00 26.00 50.00 20.00 5.00

10.00 10.00 10.00 10.00 10.00 10.00

18.48 16.80 28.88 23.56 23.86 20.48

10.00 10.00 10.00 10.00 10.00 10.00 10.00

14.43 224.51 193.94 176.54 134.27 106.74 71.86

2160

216.00

15

1.50

10.00

15.894

Total dividend declared since inception (Dec 27, 1999) = 240%

Total dividend declared since inception (Aug 27, 1998) = 445%

Birla Sun Life Frontline Equity Fund Total dividend declared since inception (Aug 30, 2002) = 240%

Birla Sun Life New Millennium Fund Birla Sun Life Tax Relief ‘96 Total dividend declared since inception (Mar 29, 1996) = 2160%

Birla Sun Life Top 100 Fund

31-Mar-04 14-Oct-04 27-Feb-06 28-Aug-06 29-Jun-07 08-Aug-08 27-Jun-08 27-Apr-06 8-Dec-06 19-Jan-07 16-Mar-07 25-Mar-08 27-Jun-08 30-May-08

After payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance is no guarantee of future results.

45

Dividend History (For select Schemes)

M a y 2 0 0 9

HYBRID & MONTHLY INCOME SCHEMES Non Corporate DEBT SCHEMES

Birla Sun Life Freedom Fund Total dividend declared since inception (Oct 12, 1999) = 65%

17-Oct-03 20-Jan-06

Face Value

10.00 10.00

Dividend (%)

Corporate #

Dividend (Rs. per unit)

15 50

1.50 5.00

65

6.50

#

Dividend (%)

Dividend (Rs. per unit)

Cum Dividend NAV (Rs. per unit)

-

-

13.32 15.13

Birla Sun Life MIP (Monthly Dividend Plan)

28-Sep-07 26-Oct-07 30-Nov-07 28-Dec-07 25-Jan-08 29-Feb-08 28-Mar-08 25-Apr-08 30-May-08 27-Jun-08 29-Aug-08 30-Jan-09 24-Apr-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.139 1.196 1.455 1.147 1.204 0.847 0.682 0.641 0.796 0.123 0.228 0.876 0.613

0.1139 0.1196 0.1455 0.1147 0.1204 0.0847 0.0682 0.0641 0.0796 0.0123 0.0228 0.0876 0.0613

1.060 1.113 1.354 1.068 1.120 0.788 0.635 0.597 0.741 0.114 0.212 0.815 0.571

0.1060 0.1113 0.1354 0.1068 0.1120 0.0788 0.0635 0.0597 0.0741 0.0114 0.0212 0.0815 0.0571

11.5833 11.6844 11.5526 11.6693 11.3399 10.9853 10.6837 10.6054 10.4906 10.0146 10.0638 10.5239 11.1021

Birla Sun Life MIP II - Savings 5 Plan (Monthly Dividend Plan)

25-Jun-08 25-Jul-08 13-Aug-08 28-Aug-08 29-Sep-08 17-Oct-08 27-Oct-08 12-Nov-08 26-Dec-08 30-Jan-09 27-Feb-09 30-Mar-09 24-Apr-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

0.546 0.521 0.402 0.140 0.802 0.140 0.526 0.657 1.051 0.613 0.526 0.438 0.350

0.0546 0.0521 0.0402 0.0140 0.0802 0.0140 0.0526 0.0657 0.1051 0.0613 0.0526 0.0438 0.0350

0.508 0.485 0.374 0.130 0.747 0.130 0.489 0.611 0.978 0.571 0.489 0.408 0.326

0.0508 0.0485 0.0374 0.0130 0.0747 0.0130 0.0489 0.0611 0.0978 0.0571 0.0489 0.0408 0.0326

10.1996 10.2026 10.1890 10.6778 10.7534 10.6947 10.7336 10.7369 11.6828 11.1310 10.9174 10.8148 11.1480

Birla Sun Life MIP II - Wealth 25 Plan (Monthly Dividend Plan)

25-May-07 29-Jun-07 27-July-07 31-Aug-07 28-Sep-07 26-Oct-07 30-Nov-07 28-Dec-07 25-Jan-08 29-Feb-08 28-Mar-08 25-Apr-08 30-May-08

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

0.629 0.756 1.126 0.962 1.133 1.193 1.446 1.145 1.214 0.837 0.666 0.620 0.777

0.0629 0.0756 0.1126 0.0962 0.1133 0.1193 0.1446 0.1145 0.1214 0.0837 0.0666 0.0620 0.0777

0.585 0.704 1.048 0.895 1.054 1.110 1.346 1.066 1.130 0.779 0.620 0.577 0.723

0.0585 0.0704 0.1048 0.0895 0.1054 0.1110 0.1346 0.1066 0.1130 0.0779 0.0620 0.0577 0.0723

11.0915 11.2535 11.5658 11.3493 11.5543 11.6241 11.5255 11.7620 11.2126 10.7279 10.3049 10.3476 10.2064

Birla Sun Life '95 Fund

30-Jun-99 28-Mar-00 13-Oct-00 09-Mar-01 15-Oct-01 26-Mar-02 30-Oct-02 28-Mar-03 10-Oct-03 22-Mar-04 25-Oct-04 10-Mar-06 30-May-08

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

20 50 30 20 20 20 10 10 10 30 20 25 50

2.00 5.00 3.00 2.00 2.00 2.00 1.00 1.00 1.00 3.00 2.00 2.50 5.00

-

-

26.78 64.44 39.85 33.50 25.70 29.99 26.01 27.00 38.59 42.31 43.02 68.53 97.61

325

32.50

Total dividend declared since inception (Feb 10, 1995) = 325%

46

Date

Birla Sun Life Monthly Income Monthly Dividend

28-Sep-07 31-Oct-07 30-Nov-07 31-Dec-07 31-Jan-08 29-Feb-08 31-Mar-08 30-Apr-08 30-May-08 30-Jan-09 27-Feb-09 30-Mar-09 29-Apr-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.345 1.632 1.401 1.221 0.750 0.677 0.712 0.668 0.786 2.628 0.491 0.438 1.664

0.1345 0.1632 0.1401 0.1221 0.0750 0.0677 0.0712 0.0668 0.0786 0.2628 0.0491 0.0438 0.1664

1.251 1.519 1.304 1.136 0.698 0.630 0.663 0.622 0.731 2.446 0.457 0.408 1.549

0.1251 0.1519 0.1304 0.1136 0.0698 0.0630 0.0663 0.0622 0.0731 0.2446 0.0457 0.0408 0.1549

11.1820 11.2657 11.0995 11.3372 10.8881 10.7070 10.3796 10.4731 10.3396 10.3982 10.4460 10.4684 10.7674

Birla Sun Life Monthly Income Quarterly Dividend

28-Sep-07 31-Dec-07 31-Mar-08 30-Jun-08 30-Sep-08 31-Dec-08 30-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

2.856 2.856 2.593 1.901 1.380 2.256 1.577

0.2856 0.2856 0.2593 0.1901 0.1380 0.2256 0.1577

2.658 2.658 2.413 1.769 1.284 2.100 1.467

0.2658 0.2658 0.2413 0.1769 0.1284 0.2100 0.1467

11.8310 12.2011 11.1765 10.6399 10.4584 10.8938 10.5699

After payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance is no guarantee of future results.

Dividend History (For select Schemes)

M a y 2 0 0 9

DEBT SCHEMES Non Corporate DEBT SCHEMES

Corporate Dividend (%)

Dividend# (Rs. per unit)

Face Value

Birla Sun Life Short Term Opportunities Fund

17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 15-Dec-08 16-Mar-09 27-Apr-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.875 1.162 1.162 1.201 1.098 2.015 0.876

0.1875 0.1162 0.1162 0.1201 0.1098 0.2015 0.0876

1.745 1.082 1.082 1.118 1.022 1.875 0.815

0.1745 0.1082 0.1082 0.1180 0.1022 0.1875 0.0815

10.2193 10.1370 10.1379 10.1943 10.2182 10.3932 10.2657

Birla Sun Life Dynamic Bond Fund - Retail Quarterly Dividend

29-Sep-08 22-Oct-08 31-Dec-08 30-Mar-09 24-Apr-09

10.00 10.00 10.00 10.00 10.00

0.701 0.569 1.664 1.664 0.526

0.0701 0.0569 0.1664 0.1664 0.0526

0.652 0.530 1.549 1.549 0.489

0.0652 0.0530 0.1549 0.1549 0.0489

10.6474 10.6239 11.1759 11.1086 10.4961

Birla Sun Life Gilt Plus - Liquid Plan (Quarterly Dividend)

17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 22-Oct-08 15-Dec-08 16-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.602 1.602 1.375 1.375 0.061 1.384 2.102

0.1602 0.1602 0.1375 0.1375 0.0061 0.1384 0.2102

1.491 1.491 1.280 1.280 0.057 1.288 1.957

0.1491 0.1491 0.1280 0.1280 0.0057 0.1288 0.1957

10.6626 10.6857 10.6466 10.7122 10.4045 10.5148 10.4492

Birla Sun Life Gilt Plus - PF Plan (Quarterly Dividend)

17-Sep-07 17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 15-Dec-08 16-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.859 1.817 2.053 1.382 1.332 2.013 2.190

0.1859 0.1817 0.2053 0.1382 0.1332 0.2013 0.2190

1.730 1.691 1.911 1.286 1.240 1.873 2.038

0.1730 0.1691 0.1911 0.1286 0.1240 0.1873 0.2038

10.5930 10.6516 10.7912 10.3315 10.3951 11.2919 10.4392

Birla Sun Life Gilt Plus - Regular Plan (Quarterly Dividend)

17-Sep-07 17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 15-Dec-08 16-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

2.339 2.180 2.196 1.495 1.454 2.267 2.540

0.2339 0.2180 0.2196 0.1495 0.1454 0.2267 0.2540

2.177 2.029 2.044 1.392 1.353 2.110 2.364

0.2177 0.2029 0.2044 0.1392 0.1353 0.2110 0.2364

11.3762 11.4187 11.6530 11.2748 11.6963 12.9233 12.4390

Birla Sun Life Income Plus (Quartery Dividend)

15-Jun-07 17-Sep-07 17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 15-Dec-08 16-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.529 1.813 2.031 2.304 1.634 1.594 2.090 2.277

0.1529 0.1813 0.2031 0.2304 0.1634 0.1594 0.2090 0.2277

1.423 1.688 1.890 2.144 1.520 1.484 1.945 2.120

0.1423 0.1688 0.1890 0.2144 0.1520 0.1484 0.1945 0.2120

10.2218 10.5704 10.7758 10.9445 10.6083 10.8205 11.7199 11.5018

Birla Sun Life Govt. Securities Long Term Dividend

17-Sep-07 17-Mar-08 16-Mar-09

10.00 10.00 10.00

3.162 0.480 7.883

0.3162 0.0480 0.7883

2.943 0.447 7.337

0.2943 0.0447 0.7337

10.3774 10.0548 11.5177

Birla Sun Life Govt. Securities Short Term Dividend

17-Sep-07 17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 15-Dec-08 16-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.607 1.546 0.588 0.876 1.095 1.111 2.015

0.1607 0.1546 0.0588 0.0876 0.1095 0.1111 0.2015

1.496 1.439 0.547 0.815 1.109 1.034 1.875

0.1496 0.1439 0.0547 0.0815 0.1109 0.1034 0.1875

10.3110 10.2972 10.0734 10.1315 10.2966 10.3417 10.2841

Birla Sun Life Income FundHalf Yearly Dividend

17-Sep-07 17-Mar-08 16-Mar-09

10.00 10.00 10.00

3.758 4.752 4.467

0.3758 0.4752 0.4467

3.497 4.423 4.158

0.3497 0.4423 0.4158

11.2454 11.6359 11.9496

Birla Sun Life Income Fund Quarterly Dividend

17-Sep-07 17-Dec-07 17-Mar-08 16-Jun-08 15-Sep-08 15-Dec-08 16-Mar-09

10.00 10.00 10.00 10.00 10.00 10.00 10.00

1.971 2.047 2.314 1.637 1.613 2.110 2.277

0.1971 0.2047 0.2314 0.1637 0.1613 0.2110 0.2277

1.834 1.905 2.154 1.524 1.501 1.964 2.120

0.1834 0.1905 0.2154 0.1524 0.1501 0.1964 0.2120

10.6534 10.8291 10.9767 10.7403 10.9178 11.7458 11.1896

Birla Sun Life Savings Fund -

27-Feb-09 30-Mar-09 24-Apr-09

10.00 10.00 10.00

0.434 0.434 0.311

0.0434 0.0434 0.0311

0.404 0.404 0.289

0.0404 0.0404 0.0289

10.1879 10.1989 10.1930

27-Feb-09 30-Mar-09 24-Apr-09

10.00 10.00 10.00

0.414 0.414 0.293

0.0414 0.0414 0.2930

0.386 0.386 0.273

0.0386 0.0386 0.2730

10.1751 10.1847 10.1785

27-Feb-09 30-Mar-09 29-Apr-09

10.00 10.00 10.00

0.413 0.438 0.361

0.0413 0.0438 0.3610

0.384 0.408 0.336

0.0384 0.0408 0.3360

10.6738 10.6829 10.6842

Institutional Monthly Dividend

Birla Sun Life Savings Fund Retail Monthly Dividend

Birla Sun Life Short Term Fund Monthly Dividend

Dividend (%)

Dividend# (Rs. per unit)

Date

After payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance is no guarantee of future results.

Cum Dividend NAV (Rs. per unit)

47

Methodology of Ranking

M a y 2 0 0 9

# Value Research Ratings Value Research Fund Ratings are a composite measure of historical risk-adjusted returns. In the case of equity and hybrid funds this rating is based on the weighted average monthly returns for the last 3 and 5-year periods. In the case of debt funds this rating is based on the weighted average weekly returns for the last 18 months and 3-year periods and in case of short-term debt funds - weekly returns for the last 18 months. These ratings do not take into consideration any entry or exit load. Five-stars indicate that a fund is in the top 10% of its category in terms of historical risk-adjusted returns. Four stars indicate that a fund is in the next 22.5%, middle 35% receive three stars, the next 22.5% are assigned two stars while the bottom 10% receive one star. The number of schemes in each category is mentioned along side the categories name. Equity Diversified (142), Equity : Index (17), Equity Tax Planning (23), Hybrid Equity Oriented (25), Hybrid: Monthly Income (32), Debt: Medium-term (40), Gilt: Medium and Long-term (28), Gilt: Short-term (13), Debt: Ultra Short-term (40), Debt: Ultra Short-term Institutional (46), Debt: Short-term (15), Debt: Floating Rate Short-term (15),Debt: Floating Rate Long-term (10), Hybrid: Debt-oriented (16), Debt: Liquid Plus: (24), Debt: Liquid Plus Institutional:(23). These Fund Ratings are as on April 30, 2009. The Value Research Ratings are published in Monthly Mutual Fund Performance Report and Mutual Fund Insight. The Ratings are subject to change every month. The Rating is based on primary data provided by respective funds, Value Research does not guarantee the accuracy.

and Debt-Short Term – Last 1 years; All other Schemes – Last 2 years and 5 yrs CPR track record for consistent CPR Performers. Fund Ratings are as on 31 Mar ‘09. Ranking is done on the following parameters depending on scheme category. CRISIL~CPR 1 - indicates “Very Good" performance & ranks within top 10 percentile of the respective category. CRISIL~CPR 2 - indicates “Good" performance & ranks within top 11th - 30th percentile of the respective category.

Parameters Superior Return Score

Scheme Category Large Cap Oriented Equity, Diversified Equity, Small and Midcap, ELSS, Balanced, Debt, MIP (Aggressive & Conservative), Gilt-Long and Consistent CPR Performers – Equity, Balanced and Debt Mean Return and Volatility Debt-Short, Ultra Short Term Debt, Liquid, Liquid Institutional & Liquid Super Institutional and Consistent CPR Performers - Liquid Portfolio Concentration Analysis All Schemes Liquidity Analysis All Schemes Asset Quality Debt Schemes Average Maturity Debt Schemes Downside Risk Probability Debt- Short Term, Liquid, Ultra Short Term Debt, Liquid- Institutional & Super Institutional Asset Size Debt- Short Term, Liquid, Ultra Short Term Debt, Liquid- Institutional & Super Institutional Historic performance on CRISIL~CPR Consistent CPR Performer – Equity, Balanced, Debt and Liquid categories Ranking Source: Crisil FundServices, CRISIL Limited

@ ICRA Mutual Fund Awards 2009 – Ranking Methodology and Disclaimer Birla Sun Life Dynamic Bond Fund – 7-Star Fund in ‘Open Ended Debt - Short Term’ schemes category – 17 Schemes – 1 year performance ended 31 Dec 2008. Birla Sun Life Dividend Yield Plus – 5-Star Fund in ‘Open Ended Diversified Equity - Aggressive’ schemes Category – 51 Schemes – 1 year performance ended 31 Dec 2008. Birla Sun Life MNC Fund – 5-Star Fund in ‘Open Ended Diversified Equity - Aggressive’ schemes Category – 51 Schemes – 1 year performance ended 31 Dec 2008. Birla Sun Life Frontline Equity Fund - 5-Star Fund in the category of ‘Open Ended Diversified Equity - Defensive’ schemes Category – 51 Schemes – 1 year performance ended 31 Dec 2008. Birla Sun Life Frontline Equity Fund – Two 5-Star Fund Rankings both in ‘Open Ended Diversified Equity - Defensive’ schemes Category – 51 and 55 Schemes – 1 and 3 year performance ended 31 Dec 2008 respectively. Birla Sun Life Liquid Plus - Institutional Plan - 5-Star Fund in the category of ‘Open Ended Liquid Plus - Institutional Plan’ schemes Category – 34 Schemes – 1 year performance ended 31 Dec 2008. Birla Sun Life Income Plus - 5-Star Fund in the category of ‘Open Ended Debt – Long Term schemes Category – 21 Schemes – 3 year performance ended 31 Dec 2008. Birla Sun Life Gilt Plus-Regular Plan - 5-Star Fund in the category of ‘Open Ended Gilt’ schemes Category – 21 Schemes – 3 year performance ended 31 Dec 2008. The rank for the schemes is an outcome of an objective and comparative analysis against various parameters, including: risk adjusted return, fund size, company concentration, portfolio turnover and liquidity. 7-Star Fund Rank indicates - Best Performance amongst the 5-Star Funds. 5-Star Fund Rank indicates - Best performance (Top 10% of the category). Entry/Exit Loads not considered. Past Performance is no guarantee of future results. Ranking Source & Publisher: ICRA Online Limited

&

Lipper Awards India 2009 - Award Methodology & Disclaimers: Birla Sun Life Mutual Fund: Best Group over 3 years (2005-2008). Group Name - Mixed Asset, Size: 12 fund houses were eligible for the group award. Fund groups with at least five equity, five bond, or three mixed-asset portfolios in the respective asset classes were eligible for a group award. The lowest average decile(1) rank of the three years’ Consistent Return measure of the eligible funds per asset class and group determined the asset class group award winner. Birla Sun Life Asset Allocation Fund-Moderate Plan-Growth (BSLAAF-MP-GR): Best Fund – 3 year performance (2005-2008) No. of Schemes: 7; Classification-Mixed Asset INR Balanced, Birla Sun Life Income Fund-Growth (BSLIF-Gr): Best Fund - 3 year performance (2005-2008) & 10 year performance (1998 – 2008), No. of Schemes: 99 & 16 respectively ; Classification-Bond Indian Rupee-General. BSLAAF-MP-Gr & BSLIF-Gr are awarded Lipper Awards India 2009 on the basis of Consistent Return (Effective Return) value over the relevant performance period. Entry/Exit load not considered. Past performance is no guarantee of future results. Ranking source: Lipper - A Reuter Co. www.lipperweb.com

+ ICRA mfAAA and mfA1+ Rating Methodology for Birla Sun Life Floating Rate (Short Term & Long Term) and Birla Sun Life Cash Plus Respectively Birla Sun Life Floating Rate Fund – Short Term Plan & Birla Sun Life Floating Rate Fund – Long Term Plan: The credit risk rating assigned to the schemes is mfAAA. The rating is the highest-credit-quality rating assigned by ICRA to debt funds. Birla Sun Life Cash Plus: The credit risk rating assigned to the scheme is mfA1+. The highest-credit-quality short-term rating assigned by ICRA to debt funds. Rating methodology used by ICRA is based on evaluating the inherent credit quality of the funds portfolio. As a measure of the credit quality of a debt fund’s assets, ICRA uses the concept of ”credit scores”, based on ICRA’s assessment of credit risk associated with each exposure of the portfolio taking into account its maturity, investment objectives and policies, its management characteristics and the creditworthiness of its investment portfolio. ICRA reviews relevant fund information on an ongoing basis to support its published rating opinions. Source: ICRA Ltd.

@@

S & P Fund Management Rating Standard & Poor’s A: The fund demonstrates high standards of quality based on its investment process, risk awareness and consistency of performance relative to its own objectives. Ranking Methodology: The Fund has provided consistent, above average, risk-adjusted returns relative to its peers over a three-year period ending December 31, 2006. The Fund is assessed by S&P on basis of quantitative factors viz. historical performance for consistency, discrete period performance comparisons and measurement over 3 discrete twelve-month periods, including 6 month moving average size, turnover, dealing, liquidity of portfolio, gearing, client base, cost, fees and on evaluation of qualitative factors viz. fund management group, portfolio manager and investment team that contributes to long term performance.

* AAAf: CRISIL AAAf Rating Methodology for Birla Sun Life Savings Fund, Birla Sun Life Income Plus, Birla Sun Life Cash Manager, Birla Sun Life Income Fund, Birla Sun Life Short Term Fund and Birla Sun Life Dynamic Bond Fund AAAf The fund’s portfolio holdings provide very strong protection against losses from credit defaults. The credit quality ratings are based on an analysis of the fund’s investment philosophy, its management, investment strategies, operational policies and internal controls. Credit quality incorporates the credit risk of securities and the counter-party risk involved in transactions CRISIL has developed a Credit Quality Matrix to evaluate a bond fund’s overall level of protection against losses associated with credit default. The matrix is a set of credit factors & credit scores derived scientifically from CRISIL’s rating default and transition rates over past ten years. Ranking source: CRISIL FundServices, CRISIL Ltd.

&&

CNBC TV18 - CRISIL Mutual Fund of the Year Award for 2007 & 2008 - Award Methodology & Disclaimer Birla Sun Life Mutual Fund, Category - Mutual Fund House of the Year, out of 27 fund houses for 2008 awards and out of 26 fund houses for 2007 awards. Fund Houses winning at least two awards for their schemes in the category level awards for 2008 and 2007 respectively were considered for the award based on consistency of fund house's performance across various scheme categories in the four quarterly CRISIL CPR rankings released during the calendar year 2008 and 2007 respectively. The individual CRISIL CPR ranks for their schemes were aggregated on a weighted average basis to arrive at the final ranks for fund houses in both the years.

^^Crisil CPR – Ranking Methodology & Disclaimer Birla Sun Life Frontline Equity Fund: CRISIL~CPR 1 -In Diversified Equity Scheme Category (69 Schemes). Birla Sun Life Dividend Yield Plus: CRISIL~CPR 2 -In Diversified Equity Scheme Category (69 Schemes). Birla Sun Life Midcap Fund: CRISIL~CPR 1 -In Small & Mid Equity Scheme Category (16 Schemes). Birla Sun Life Freedom Fund: CRISIL~CPR 1 -In Balanced Scheme Category (18 Schemes). Birla Sun Life 95 Fund: CRISIL~CPR 2 -Consistent CPR Performer - Balanced (14 Schemes). Birla Sun Life 95 Fund: CRISIL~CPR 2 -In Balanced Scheme Category (18 Schemes). Birla Sun Life Income Fund: CRISIL~CPR 2 - Income Scheme Category (23 Schemes) Birla Sun Life Income Plus: CRISIL~CPR 1 - Consistent CPR Performer - Income (12 Schemes) Birla Sun Life Income Plus: CRISIL~CPR1 - Income Scheme Category (23 Schemes) Birla Sun Life Short Term Fund - Retail Plan: CRISIL~CPR 1 - Debt Short Term Scheme Category (19 Schemes). Birla Sun Life Cash Plus - Retail Plan: CRISIL~CPR 1 Consistent CPR Performer - Liquid (15 Schemes) Birla Sun Life Gilt Plus - Regular Plan: CRISIL~CPR 2 - Gilt Scheme Category (19 Schemes) Birla Sun Life Savings Fund - Instituitional Plan: CRISIL~CPR 2 - Ultra Short Term Debt - Institutional Scheme Category (18 Schemes) Birla Sun Life MIP II Fund - Savings 5 Plan: CRISIL~CPR 1 - MIP Conservative Scheme Category (9 Schemes) Birla Sun Life Floating Rate Fund - Long Term Plan: CRISIL~CPR 2 - Ultra Short Term Debt Scheme Category (29 Schemes) CRISIL~Composite Performance Ranking - (CRISIL~CPR) is the relative performance ranking of mutual fund schemes within the peer group. The criteria used for computing the ranking are AUM in excess of category cut-off limits & portfolio disclosure and performance in case of Liquid Plans, Liquid Institutional

&&

CNBC TV18 - CRISIL Mutual Fund of the Year Award for 2008 - Award Methodology & Disclaimer Birla Sun Life Mutual Fund, Category – Debt Fund House of the Year, out of 27 Fund houses. The award is based on consistency of fund house’s performance across the Gilt, Income, Income – Short, Liquid – Retail, Liquid – Institutional, Liquid – Super Institutional, MIP (Aggressive & Conservative) and Liquid Plus categories in the four quarterly CRISIL CPR rankings released during the calendar year 2008. The individual CRISIL CPR ranks for their schemes were aggregated on a weighted average basis to arrive at the final ranks for fund houses. Birla Sun Life Income Fund (Income Category) 17 schemes: Only Winner. Birla Sun Life Short Term Fund - Retail (Income – Short Term Funds) 15 schemes: Only Winner. Birla Sun Life Gilt Plus – Regular Plan (Gilt Category) 11 schemes: Only Winner. Schemes present in all four quarterly CRISIL CPRs were considered for the award. The award is based on consistency of the scheme’s performance in the four quarterly CRISIL CPR rankings released during the calendar year 2008. The individual CRISIL CPR parameter scores averaged for the four quarters were further multiplied by the parameter weights as per the CRISIL CPR methodology to arrive at the final scores. A detailed methodology of the CRISIL CPR is available at www.crisil.com. Past performance is no guarantee of future results. Rankings and Award Source: CRISIL FundServices, CRISIL Ltd.

For further details on our Funds, please contact our Customers Service Centres at details given below. BIRLA SUN LIFE ASSET MANAGEMENT COMPANY LTD. BRANCHES IDEA Toll Free No. 1800-270-7000 & the centralised TOLL no. 022-66917777 AGRA AURANGABAD BHILLAI GURGAON JABALPUR JAMSHEDPUR KOLHAPUR MANGALORE MUMBAI (Borivali) NASIK RAIPUR SURAT VARANASI VISAG AHMEDABAD ALLAHABAD ALWAR AMBALA AMRAVATI

AJMER BARODA BHOPAL HYDERABAD (Abids) JAIPUR JODHPUR LUCKNOW MEERUT MUMBAI (Ghatkopar) PATIALA RAJKOT UDAIPUR VASHI

: : : : :

AMRITSAR BELGAUM DEHRADUN INDORE JALANDHAR KANPUR LUDHIANA MORADABAD NAGPUR PUNE RANCHI VALSAD VIJAYWADA

079 - 26403553 / 48 0532 - 2427015 / 3201661 0145 - 2700126 0171 - 2601345 0721 - 6451692

ANAND BANGALURU (Jayanagar) BANGALURU (Malleswaram) BANGALURU(Cunningham House Rd) BHAVNAGAR BHUBANESHWAR CALICUT CHANDIGARH CHENNAI (Anna Nagar) CHENNAI (Egmore) COCHIN COIMBATORE DELHI DHANBAD DURGAPUR ERODE GUWAHATI GWALIOR HUBLI JAMMU JAMNAGAR KOLKATA

: : : : : : : : : : : : : : : : : : : : : :

02692 - 247260 080 - 41555000 080 - 42199223 080 - 22389991 / 2 / 3 0278 - 6452524 0674 - 2535521 / 3413 0495 - 4021366 / 99 0172 - 2783556 044 - 43016950 / 1 / 2 / 4 / 6 044 - 28191681 / 708 / 715 / 699 0484 - 2366817 / 2383969 / 4021722 0422 - 4350262 / 4 011- 40744514 0326 - 2302747 / 8051 0343 - 6454621 / 19 / 3201241 0424 - 4558197 / 8 0361 - 2595020 / 2599273 0751 - 6499442 / 378 0836 - 4259989 / 4266283 0191 - 2432601 0288 - 3200064 033 - 22882592 / 4 / 5

KOTA MADURAI MANDI GOBINDGARH MARGAO MATHURA MEHASANA MUMBAI (Fort) MUMBAI (Head Office) MUMBAI (Prabhadevi) MYSORE NOIDA PANIPAT PANJIM PATNA PONDICHERRY SALEM SILIGURI THANE TRICHY TRIVANDRUM VAPI VISHAKAPATNAM

: : : : : : : : : : : : : : : : : : : : :

0744 - 2366237 0452 - 4231493 / 83 01765 - 250051 0832 - 6480109 0565 - 3207007 / 6959 02762 - 658323 / 16 022 - 66379839 / 41 / 44 / 12 022 - 66928000 022 - 6661035 / 36 0821 - 4244400 / 1 / 2 0120 - 4203629 0180 - 4005660 0832 - 2437628 0612 - 2323265 / 66 0413 - 4207997 0427 - 4554431 0353 - 2545165 022 - 67930660 / 1 0431 - 2773391 / 2 / 3 0471 - 4017007 0260 - 6454735 / 6 0891 - 6631337 / 8

Disclaimer: 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 securities of any entity, and further, Birla Sun Life AMC Ltd./ its subsidiaries / affiliates / sponsors / trustee or their officers, 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 offer documents (including if necessary, obtaining the advice of tax / legal / accounting / financial / other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained herein. Editorial opinions expressed in the 'Connect' are not necessarily those of Birla Sun Life AMC Ltd. or any of their officers, employees, personnel, directors and Birla Sun Life AMC Ltd. and its officers, employees, personnel, directors do not accept responsibility for the editorial content. Birla Sun Life AMC Ltd. or any of its officers, employees, personnel, directors make no representation as to the accuracy, completeness or reliability of the editorial content and hereby disclaim any liability with regard to the same. Statutory Details: Constitution: Birla Sun Life Mutual Fund (BSLMF) has been set up as a Trust under the Indian Trust Act, 1882. Sponsors: Aditya Birla Nuvo Limited and Sun Life (India) AMC Investments Inc. (liability restricted to seed corpus of Rs. 1 Lac). Trustee: Birla Sun Life Trustee Company Pvt. Ltd. Investment Manager: Birla Sun Life Asset Management Company Ltd.Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsor / Investment Manager / Mutual Fund does not indicate the future performance of the Schemes and may not necessarily provide a basis of comparison with other investments. The names of the Schemes do not, in any manner, indicate either the quality of the Schemes or their future prospects or returns. Unitholders in the schemes are not being offered any guaranteed/assured returns. Investors should read the Offer Document/ Key Information Memorandum available at Investor Service Centers and with distributors carefully before investing. The Material provided in the Connect cannot be reproduced or quoted anywhere without express permission from Birla Sun Life Asset Management Company Ltd.

48

The Mutual Fund House of the Year

The Debt Mutual Fund House of the Year

Awarded by CNBC TV-18 CRISIL

Awarded by CNBC TV-18 CRISIL

Birla Sun Life Gilt Plus - Regular Plan

Birla Sun Life Income Fund - Growth

Birla Sun Life Short Term Fund - Retail

Awarded by CNBC TV-18 CRISIL

Awarded by CNBC TV-18 CRISIL

Awarded by CNBC TV-18 CRISIL

(Past performance is no guarantee of future results.) for ranking methodology please refer page 48

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Highlights

The equity market is great at growing money. But wealth created when the market rises can disappear when it falls. You can try to time the market but that is difficult.

Grow Your Savings Save Your Growth

The solution is Birla Sun Life Freedom Fund (BSL Freedom Fund), a disciplined approach to investing that helps make your overall journey to wealth creation smooth, safe and worry-free.

Grow your savings, Save your growth It is well-known that equity creates wealth in the long run. Had you invested Rs. 1 lakh in the

But to create wealth, it is important to invest in equities when the markets are rising (to grow your savings) and just as important to move out of equities when the markets are falling (to save your growth).

July 1990

Rs 1 lakh

To do this right, you must read the market correctly on a regular basis.

Jan 2008

Rs 22 lakhs

Jan 2009

Rs 10.6 lakhs

Basically, that’s what BSL Freedom Fund aims to do: •

It increases your equity exposure when the markets are rising and reduces your equity exposure when markets are falling. (The change in equity exposure can be through Nifty

BSE Sensex…

More than half the wealth created in the last 17 years gone in 12 months!

futures.)

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Our Fund Manager takes these decisions on the basis of a disciplined model.

Data Source: bseindia.com; Computation: Internal

See the numbers for yourself In the last 10 years, the equity market has been through two major downturns, besides smaller ups and downs. When the investment model behind BSL Freedom fund was tested through these tough times, this is how it proved its worth: BSL Freedom Fund converts your investments from High Volatility - High Uncertainity to Low Volatility - More Certainity! To seize the opportunity, contact your Investment Advisor.

The investment model and its performance results depicted above for illustration purposes only and actual future investment strategy and market conditions may result in significant variances. Past performance including such returns may not reflect future performance. The investment model performance results show the simulated fund performance based on the revised hedging limit (Please refer Disclaimers below).The above results referred to are based on certain assumptions (Please refer “Key Assumptions” below) and are computed internally from sources, which Birla Sun Life Asset Management Company Limited believes to be reliable, but cannot guarantee its accuracy or completeness.

Birla Sun Life

Past performance is no guarantee of future results. For award methodology, see below.

Freedom Fund

An open ended balanced scheme

Disclaimer: Currently, the Fund can hedge the portfolio only to the extent of 50%(net exposure) of its net assets as per the Offer Document. However, the Fund has decided to enhance the limit of investments in derivatives in line with the current regulations governing derivative investments by MFs. The new limit, which would allow the Fund to hedge up to 100% of its equity exposure, to be applicable from 25th May 2009. Model performance may not be indicative of future results or cannot be construed to provide any guaranteed or assured returns. Different types of investments and strategies involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be profitable. Key Assumptions for investment model: (1) Period: Jan 01, 1999 to Apr 15, 2009 (2) Equity (Nifty) exposure in spot market maintained between 65% to 75% (3) Equity exposure started with 70% and rebalanced whenever it crosses 65% or 75% (4) Hedge ratio: 0% to 75% of equity portfolio (This is as per proposed change to the scheme to be effective 25th May 2009. Please refer Disclaimers above), monitored daily, adjusted on need basis. Change in hedge capped at 5% in a day (5) Net equity exposure ranges between a Minimum of 0% to Maximum 75% (6) The returns are calculated on price data of Nifty, and don’t take into account corporate actions (7) The discount and premium of Nifty futures are not considered for the purpose of calculation (8) Costs: Spot market transactions: 0.20%; Nifty futures: 0.0351% of notional; expense ratio: 2% p.a. (9) Amount that is not invested in spot market is invested in Birla Sun Life Cash Plus (10) Impact of taxes not considered. Award Methodology & Disclaimer: CNBC TV18 - CRISIL Mutual Fund of the Year Award for 2008 & 2007. Birla Sun Life Mutual Fund, Category - Mutual Fund House of the Year, out of 27 fund houses for 2008 awards and out of 26 fund houses for 2007 awards. Fund Houses winning at least two awards for their schemes in the category level awards for 2008 and 2007 respectively were considered for the award based on consistency of fund house's performance across various scheme categories in the four quarterly CRISIL CPR rankings released during the calendar year 2008 and 2007 respectively. The individual CRISIL CPR ranks for their schemes were aggregated on a weighted average basis to arrive at the final ranks for fund houses in both the years. A detailed methodology of the CRISIL CPR is available at www.crisil.com. Ranking & Award Source: CRISIL Fund Services, CRISIL Ltd. Past performance is no guarantee of future results. Statutory Details: Constitution: Birla Sun Life Mutual Fund (BSLMF) has been set up as a Trust under the Indian Trust Act, 1882. Sponsors: Aditya Birla Nuvo Limited and Sun Life (India) AMC Investments Inc. (liability restricted to seed corpus of Rs. 1 Lac). Trustee: Birla Sun Life Trustee Company Pvt. Ltd. Investment Manager: Birla Sun Life Asset Management Company Ltd. Scheme Name & Objective: Birla Sun Life Freedom Fund. An open-ended balanced scheme with an objective to balance income requirements with growth of capital through a balance mix of investments in equity and debt at relatively moderate levels of risks through a diversified research based investment approach. Date of inception / takeover: October 12, 1999. Load Structure: Entry Load (Including SIP): For Purchase / switch in of units < Rs. 5 Crores in value: 2.5%. For Purchase / Switch in of units > Rs. 5 Cr. in value: Nil. Direct applications: Nil. Exit Load (Including SIP): For Redemption / switch out of units < Rs.5 Cr. in value: 1% (if redeemed / switched out within 12 months). For Redemption / Switch out of units > Rs.5 Cr. in value: Nil. Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsors / Investment Manager / Mutual Fund does not indicate the future performance of the Scheme and may not necessarily provide a basis of comparison with other investments. The names of the Scheme does not, in any manner, indicate either the quality of the Scheme or its future prospects or returns. Unit holders in the Scheme are not being offered any guaranteed / assured returns. Please refer to the Scheme Information Document for Scheme specific risk factors. Investors should carefully read the Scheme Information Document / Offer Document / Key Information Memorandum available at Investor Service Centres and with Distributors before investing.

Past performance is no guarantee of future results. 4 fund houses were eligible out of a universe of 26. Period: 4 quarterly CPRs in 2007. 3 fund houses were eligible out of a universe of 27. Period: 4 quarterly CPRs in 2008.

For award methodology and further details refer page 48