Category Fund Name Page No.

EQUITY
Large Cap Fund Nippon India Large Cap Fund 5
Large & Mid Cap Fund Nippon India Vision Fund 6
Thematic Nippon India Quant Fund 7
Mid Cap Fund Nippon India Growth Fund 8
Focused Fund Nippon India Focused Equity Fund 9
Small cap Fund Nippon India Small Cap Fund 10
Value Fund Nippon India Value Fund 11
Multi Cap Fund Nippon India Multi Cap Fund 12
Flexi Cap Fund Nippon India Flexi Cap Fund 13
ELSS Nippon India Tax Saver (ELSS) Fund 14
Sectoral Nippon India Banking & Financial Services Fund 15
Sectoral Nippon India Power & Infra Fund 16
Sectoral Nippon India Pharma Fund 17
Thematic Nippon India Consumption Fund 18
Thematic Nippon India Japan Equity Fund 19
Thematic Nippon India US Equity Opportunities Fund 20
Thematic Nippon India Taiwan Equity Fund 21
Thematic Nippon India Innovation Fund 22
DEBT
Overnight Fund Nippon India Overnight Fund 23
Liquid Fund Nippon India Liquid Fund 24
Money Market Fund Nippon India Money Market Fund 25
Ultra Short Duration Fund Nippon India Ultra Short Duration Fund (Number of Segregated Portfolio -1) 26
Low Duration Fund Nippon India Low Duration Fund 27
Corporate Bond Fund Nippon India Corporate Bond Fund 28
Banking and PSU Fund Nippon India Banking & PSU Debt Fund 29
Floater Fund Nippon India Floating Rate Fund 30
Short Duration Fund Nippon India Short Term Fund 31
Long Duration Fund Nippon India Nivesh Lakshya Fund 32
Credit Risk Fund Nippon India Credit Risk Fund (Number of Segregated Portfolios- 2) 33
Medium Duration Fund Nippon India Strategic Debt Fund (Number of Segregated Portfolios - 2) 34
Medium to Long Duration Fund Nippon India Income Fund 35
Dynamic Bond Nippon India Dynamic Bond Fund 36
Gilt Fund Nippon India Gilt Securities Fund 37
HYBRID
Dynamic Asset Allocation or Balanced Advantage Nippon India Balanced Advantage Fund 38
Aggressive Hybrid Fund Nippon India Equity Hybrid Fund (Number of Segregated Portfolios - 2) 39
Equity Savings Nippon India Equity Savings Fund (Number of Segregated Portfolios - 2) 40
Arbitrage Fund Nippon India Arbitrage Fund 41
Conservative Hybrid Fund Nippon India Hybrid Bond Fund (Number of Segregated Portfolios - 2) 42
Multi Asset Allocation Nippon India Multi Asset Fund 43
OTHER
Nippon India Index Fund - Nifty 50 Plan 44
Nippon India Index Fund - S&P BSE Sensex Plan 45
Index Funds Nippon India Nifty Smallcap 250 Index Fund 46
Nippon India Nifty Midcap 150 Index Fund 47
Nippon India Nifty 50 Value 20 Index Fund 48
Nippon India Nifty Alpha Low Volatility 30 Index Fund 49
Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund 50
Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Maturity 50:50 Index Fund 51
Nippon India Nifty SDL Plus G-Sec - Jun 2028 Maturity 70:30 Index Fund 52
Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund 53
Nippon India Nifty G-Sec Jun 2036 Maturity Index Fund 54
Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity 70:30 Index Fund 55
Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund 56
Nippon India ETF Nifty 50 BeES 57
Nippon India ETF S&P BSE Sensex 58
Nippon India ETF Nifty 50 Value 20 59
Nippon India ETF Nifty Next 50 Junior BeES 60
Nippon India ETF Nifty 100 61
Nippon India ETF Nifty India Consumption 62
Nippon India ETF Nifty Dividend Opportunities 50 63
Nippon India ETF Nifty Infrastructure BeES 64
Nippon India ETF Nifty Bank BeES 65
Nippon India ETF Nifty PSU Bank BeES 66
Nippon India ETF Nifty 50 Shariah BeES 67
ETFs - Others Nippon India ETF Nifty Midcap 150 68
Nippon India ETF Hang Seng BeES 69
Nippon India ETF S&P BSE Sensex Next 50 70
Nippon India ETF Nifty IT 71
Nippon India Nifty Pharma ETF 72
Nippon India Nifty Auto ETF 73
CPSE ETF 74
Nippon India ETF Nifty 1D Rate Liquid BeES 75
Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt 76
Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50:50 77
Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight 78
Nippon India ETF Nifty 5 yr Benchmark G-Sec 79
Nippon India Silver ETF 80
ETFs - Gold Nippon India ETF Gold BeES 81
FUND OF FUND (FOF)
FoF -Domestic Nippon India Gold Savings Fund 82
FoF -Domestic Nippon India Nifty Next 50 Junior BeES FoF 83
FoF -Domestic Nippon India Passive Flexicap FoF 84
FoF -Domestic Nippon India Asset Allocator FoF 85
FoF -Domestic Nippon India Silver ETF Fund of Fund (FOF) 86
SOLUTION ORIENTED
Retirement Fund Nippon India Retirement Fund - Income Generation Scheme 87
Retirement Fund Nippon India Retirement Fund - Wealth Creation Scheme 88
Debt Snapshot 89
SIP Returns of Select Schemes 90
Brief on New Securities included in the Portfolio of Debt Funds 90
Fund Management Team 91
Scheme Performance 92
Scheme Performance - Fund Manager Wise 102
Funds at a Glance 108
Disclaimers, Statutory Details & Risk Factors 119
How to Read Factsheet 120
 Fixed Income Update and Outlook

MARKET UPDATE

Declining UST, weak dollar index and easing Geo-political concerns

Globally, November 2023 saw easing of geo-political risks, decline in US inflation followed by sharp decline in US treasury yields, depreciating dollar and dovish global Central bankers.
Robust growth, decline in headline and core inflation (although volatile food prices are key concern), robust fiscal and worsening trade deficit were key macro data-points for Indian fixed income markets.
India:
Monetary Policy: In early Dec policy, the RBI maintained status quo on policy rate and left monetary stance unchanged - in line with consensus expectations. While gradual decline in inflation outlook and soft
core inflation print was highlighted in policy, the RBI remains cautious of impact of recurring food shocks on headline inflation prints. RBI also revised upward economic growth for FY24 to 7% (previous estimate
: 6.5%), while retaining FY24 inflation projections at 5.4%.
Economic Growth: Indian economy continued to grow robustly at 7.6%y/y in 2Q (July-Sep 2023) after growing at 7.8%y/y in 1Q (Apr-Jun 2023). The growth was driven primarily by double-digit growth in
government spending and capital expenditure. From the supply side, growth was driven by manufacturing, electricity and construction. Private consumption from the expenditure side and agriculture from supply
side continue to show muted growth. 1H (Apr-Sep 2023) GDP grew at robust 7.73%y/y (as against RBI’s estimate of 7.2%) indicating strong growth momentum.
Inflation: After spiking to 7% range in July-Aug 2023, CPI inflation eased to 5% y/y mark in September and further down to 4.87%y/y in October 2023 (October 2022: 6.77%y/y). Decline in annual inflation was
driven primarily by favourable base effect, decline in fuel and benign momentum in services prices. Core inflation continued to ease to 4.23%y/y (September 2023: 4.52%y/y; Last year same period: 5.99%y/y).
Fiscal: April-Oct 2023 gross & net tax collections grew robustly by 14%y/y and 11%y/y respectively - driven by buoyant direct tax collections. Expenditure growth was robust at ~12%y/y driven primarily by
capital expenditure. As a result, Fiscal deficit stood at ~45% of budget estimates (Apr-Oct 2022: 46%). November 2023 GST data continued to indicate robust tax collections. That said, momentum for month
of October for both tax revenue and expenditure was muted, impacted by adverse base effect.
External Sector: October 2023 Trade deficit jumped sharply to US$31.4 bn (Sep 2023: US$19.4 bn) pushed up mainly by broad-based increase in imports. In absolute terms, exports during the month were
flattish, while oil imports (on high volumes), gold (festive season demand) and core imports (fertilizers, coal, capital goods and iron) rose rapidly. On other hand, net services exports continued to grow robustly
at 14% y/y during the month, thereby helping to improve current account balances.
After two consecutive months of outflows, November 2023 saw robust FPI inflows (both in equity & debt) to ~US$ 3 bn. With this, Apr-Nov 2023 saw overall strong inflows of ~US$21.5 bn – in sharp contrast
to contraction of FPI flows of ~US$6 bn in FY23.
Average Rupee continued to depreciate (albeit marginally) against US dollar in Nov 2023 and stood at 83.30 during the month (Oct 2023: 83.24; Sep 2023 :83.05, Aug 2023: 82.78). Rupee has depreciated
marginally by ~0.68% against dollar in CY23 till date.
Liquidity: November 2023 saw core liquidity (system liquidity + Government balances) declined from 3.3 trillion in Oct 2023 to 2.5 trillion by Nov end, on festive season demand & credit pick-up.
Fixed Income Market Update- Yield Levels & Spreads: After witnessing rise in yield in the month of October, the month saw fixed income yields easing on backdrop of global cues (limited impact of Middle
east crisis, decline in crude, easing UST yields, dovish Fed Governors’ speak and growing global growth concerns.
10-year G-sec yield (which was moving in the range of 7.35-7.39 in Oct (post policy), started the month at 7.36, but moved down during the month in range of 7.24-7.28% on easing global concerns (decline
in geo-political risk, better than expected US inflation, dovish Fed governor speeches). 10 yr G-sec closed the month at 7.28% (Oct 2023: 7.35%; Sep 2023 end: 7.21%).
Money market rates continued to remain elevated during the month on tight liquidity driven primarily by festive season and higher government balances. 10-year Term premia (10 yr over 365 days) eased to 15
bps (Oct 2023: 21 bps, Sep 2023: 15 bps) on elevated short end yields and easing benchmark yields (flattening of curve).
Unlike G-sec, 10-year SDL yields eased marginally on higher supply and were in the range of 7.59-7.69% to close the month marginally higher at 7.69% (Oct 2023: 7.67%, Sep 2023: 7.46%). November SDL
primary supply was robust at ~Rs.85,670 cr (Oct 2023: Rs. 92,639 cr, Sep 2023: Rs. 70.,512 cr). The average spread between 10 yr SDL over G-sec rose to 36 bps during the month (Oct 2023: 27 bps, Sep
2023: 25 bps) on higher supply.
AAA bonds remained range-bound during the month, with 10 yr AAA PSU moving in the narrow band of 7.68%-7.73% (Previous month:7.61-7.72%). It closed the month marginally lower at 7.70% (Oct 2023:
7.72%; Sep 2023: 7.68%).
Global:
Monetary Policy: In early Nov 2023 policy, US Federal Reserve maintained policy rate unchanged, while keeping option for further rate hikes open on robust growth and resilient labour market. Federal
governors’ speeches since then have been dovish, taking comfort from easing inflationary pressures.
Inflation: US inflation eased to 3.2%y/y in Oct 2023 from 3.7% in September driven by decline in energy. While global food prices have been in disinflation for twelve consecutive months, (with IMF’s FAO food
index down to negative 10.9%y/y in Oct 2023 vis-à-vis positive 1.6%y/y one year prior), there is currently uncertainty about food price outlook (on El Nino concerns and erratic climate).
Post OPEC meeting on output targets for calendar year 2024, the oil prices have declined and been ~80/barrel range.
Financial Markets: During the month, US treasury yields eased on expectations of limited impact of Israel-Hamas conflict, moderating growth, easing inflation and dovish federal governors’ speeches. After
starting the month dovish at 4.77% on dovish Federal Reserve Policy, the US 10 Yr Treasury bond (UST) yield continued to slide down during the month to close the month lower at 4.37% (Oct 2023: 4.88%,
Sep 2023: 4.59%).
Dollar Index depreciated by ~2% m/m in Nov 2023 after appreciating for two consecutive months. With this depreciation, Calendar year till date dollar index now stand flattish.
Indian Fixed Income Market- Future Outlook:
• Volatility of food prices has been key driving factor to the evolution of headline CPI trajectory during Apr-Oct 2023. Erratic nature of climate is likely to keep food inflation volatile in coming months.
• November’23 print is likely to be in 6% range (after declining to 4.87%y/y in October’23) driven primarily by volatile vegetable prices (erratic climate) and elevated cereals, pulses, sugar prices (on back of
lower supply). That said, seasonally, food inflation tends to ease during winter season on improved supply of vegetables and fruits.
• Core inflation is currently at 4.23% and expected to remain muted in 2H (Oct-March) FY24 helped by favourable base effect and muted sequential momentum.
• Between Oct’23 and Dec’23 policy, global pressure points have reduced. From buoyant growth to growth slowdown outlook for global economy. This is getting reflected in crude and UST levels. That said,
going forward, the RBI is likely to take cues from domestic growth/inflation dynamics.
• In near term, with domestic growth outlook robust, the RBI is likely to remain on hold even with the lower inflation print (although above targeted level). That said, Policy rates are expected to ease over the
medium term.
• System Liquidity has remained in deficit on average ~Rs.67,000 cr since advance tax payment in mid-Sep’23 - driven by festive season demand and credit pickup. With December’23 seasonally having
higher tax pay-out (advance tax, GST, etc), liquidity is expected to remain tight during the month.
• Going forward, Fixed income markets are likely to take global cues like geo-political risk, US Treasury (UST), Fed speak, crude oil, etc along with evolving domestic inflation trajectory.

Common Source: RBI, Central Statistical Office (CSO), FAO, CEIC, JP Morgan, US Federal Reserve, US Treasury department, Commerce Ministry of India, NIMF Internal Research.

The views expressed herein constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. This information is meant for general
reading purposes only and is not meant to serve as a professional guide for the readers.

Fundamentals December 2023 3

 Macro and Equity Market Updates

GLOBAL MACRO & MARKETS

India’s NIFTY index ended the month in green, ending with a growth of 5.5% MoM in November . The S&P500 (+8.9%), the Euro 50 (+7.9%), the MSCI (Morgan Stanley Capital International) World (+9.2%),
Japan’s Nikkei (+8.5%) all ended the month positive, bucking two months (Sep 2023 and Oct 2023) of negative growth, as global markets rebounded. Among emerging markets indices, the MSCI EM (Emerging
Market), and BOVESPA Brazil were up in November , by +7.9%, and +12.5% respectively. MOEX (Moscow Exchange) Russia and HANG SENG (Hong Kong) posted month on month degrowths of -0.4%
and -1.1% respectively.
LME (London Metal Exchange) Metals Index rose by +1.1% in November , as China’s Manufacturing PMI (Purchasing Manager’s Index) moved into expansion territory after slipping last month , coupled with
a weaker dollar. WTI (West Texas Intermediate) and Brent Crude slipped over the month, by -6.2% and -5.2% respectively, as OPEC+ (Organization of the Petroleum Exporting Countries) postponed its meeting
to discuss production cuts to the end of November, as the threat of spillover effects from the Israel- Hamas conflict remained. The Dollar index weakened by -3.0% through November, with the Dollar appreciating
by 2.0% vis-à-vis EM (Emerging Market) currencies and appreciating by +0.2% against the Indian Rupee on the spot market. India 10Y G-Sec yields fell by -7.5 bps, while US 10Y G-Sec yield slid by -60 bps,
and the German Bund yield fell by -35 bps, with rates settling at 7.28%, 4.33% and 2.44% respectively. The drop in yields of the US government bonds is a function of the perception of long-term moderation
in inflation numbers, as US CPI (Consumer Price Index) inflation decelerated and jobless claims increased in October 2023.

DOMESTIC MACRO AND MARKET

The BSE SENSEX (+4.9%) rose in November, in tandem with other benchmark Indian indices. BSE Mid-cap and Small-cap indices outperformed the large cap index, posting performances of 9.6% and 9.4%
respectively. Sector-wise, Realty, Oil & Gas, Healthcare and Power indices were the top 4 performers over the month , clocking +18.9%, +12.7%, +11.4%, and +11.0%, respectively. All 13 of BSE’s sectoral
indices ended the month in green.
Net FII (Foreign Institutional Investors) flows into equities were positive for November (+$1.1Bn, following -$2.9Bn in October 2023). DIIs (Domestic Institutional Investors) remained net buyers of Indian equities
(+$1.5Bn, from -$3.4 Bn from last month). YTD (Year to date), FPI (Foreign Portfolio Investment) net buying stands at US$14.2 Bn, while DIIs (Domestic Institutional Investors) have bought stocks worth US$20.5
Bn.

India’s high frequency data update:

Elevated levels of GST collections, festive season demand uptick, stable retail inflation, deflated input inflation, rising core sector outputs, and elevated credit growth augurs well for the Indian economy.
 Manufacturing PMI (Purchasing Manager’s Index): Manufacturing PMI in November 2023 came in at 56, up from an 8-month low of 55.5 in October 2023 and remained in expansion zone for the
29th straight month driven by reduced price pressures and increased demand from clients.
 GST Collection: Collections of INR 1.68 Tn (+15% YoY) in November 2023 concluded the twenty first consecutive month of collections over the INR 1.4 Tn mark, following record collections of INR 1.87
Tn in April 2023. Collections for 6 out of 8 months in this fiscal year crossed INR 1.6 Tn. The YoY growth of the collections was its highest since the inception of the regime in 2017. Rising compliance,
increased formalization of the economy, festive demand, and improved administrative efficiency have driven sustainedly high levels of GST collections.
 Core Sector Production: The index of eight core sector industries (Natural Gas, Coal, Refinery Products, Crude Oil, Cement, Electricity, Steel, and Fertilizers) grew by 12.1% in October 2023, against
an 8.1% jump in September 2023, as a favourable base effect continued to come into play for India’s eight core sectors. All eight constituent sectors recorded positive YoY growths, with electricity
production leading with a growth 20.3%.
 Industrial Production: Factory output as measured by the IIP(Index of Industrial Production) index decelerated MoM to 5.8% in September 2023, vs a growth of 10.3% YoY in August 2023, buoyed
by positive YoY growths in all 3 constituent sectors- Mining, Manufacturing and Electricity.
 Credit growth: Scheduled Commercial Bank Credit growth reached 19.73% YoY as of In October 2023 against YoY growth of 16.65% as observed in October 2022.
 Inflation: October 2023’s CPI (Consumer Price Index) inflation rate dropped to a four-month low, and reached 4.87%, easing from 5.02% in August 2023. Deceleration in the CPI rate was attributed to
slowdown in price rises for housing, clothing and footwear. Food inflation remained elevated and unchanged, coming in at 6.61%. WPI (Wholesale Price Index) inflation remained in negative territory, with
the October 2023 print at a -0.52%, 26 bps down from September 2023’s at -0.26%, as fuel and manufactured products remained in the deflation zone.
 Trade Deficit: Indian Merchandise Exports recorded a rise of 6.23% YoY to $33.57 Bn in October 2023, while Imports growth rose by +12.29% YoY to $65.03 Bn. India’s trade deficit widened to a
record $31.46 Bn as the global economic outlook remained uncertain.

Strong 2QFY24 GDP growth of 7.6% YoY, with 1HFY24 GDP Growth at 7.7% YoY indicated improving
INDEX 2021 2022 2023 (YTD) Sep-23 Oct-23 Nov-23 economic fundamentals for the Indian economy. GFCF at 35.5% of Real GDP was up 11% YoY in
2QFY24, at a decadal high. GFCF indicates gross added investment in the economy as measured by
MSCI WORLD 20.1% -19.5% 14.7% -4.4% -3.0% 9.2% the value of fixed assets (excluding financial assets).
S&P 500 (US Markets) 26.9% -19.4% 17.4% -4.9% -2.2% 8.9%
Gross Fixed Capital Formation (GFCF) as % of Real GDP at decadal highs
Euro 50 21.0% -11.7% 13.3% -2.8% -2.7% 7.9%
40%
MSCI EM -4.6% -22.4% 2.5% -2.8% -3.9% 7.9% 35.3%
HANG SENG -14.1% -15.5% -7.1% -3.1% -3.9% -0.4% 35%
Nifty 50 India 24.1% 4.3% 6.3% 2.0% -2.8% 5.5%
LMEX LONDON METALS INDEX 31.8% -11.5% -6.7% 0.0% -3.1% 1.1% 30%

BRENT 50.2% 10.5% 1.1% 9.7% -8.3% -5.2%

DOLLAR INDEX SPOT 6.4% 8.2% 0.1% 2.5% 0.5% -3.0% 25%

BSE SENSEX 22.0% 4.4% 6.6% 1.5% -3.0% 4.9%

20% Gross Fixed Capital Formation as % of Real GDP
BSE MIDCAP 39.2% 1.4% 23.3% 3.7% -3.4% 9.6%
10 Year Average
BSE SMALLCAP 62.8% -1.8% 28.4% 1.1% -1.7% 9.4%
15%
USDINR 1.7% 11.3% 0.1% 0.3% 0.3% 0.2%
Jun-11

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Dec-22
Note: Market scenarios are not reliable indicators for current or future performance. The same should not be construed as
investment advice or as any research report/research recommendation.
Events to watch out for in December 2023:
Oil Prices: The coalition of Oil Producing and Exporting Countries (OPEC+) announced further voluntary production cuts of 2.2 Mn bpd (Million Barrels per day) by members at the end of November 2023 .
Global oil markets remain vulnerable s, especially as conflict remains between Israel and Hamas, and Russia and Ukraine. US Oil production remains on the rise, leaving global oil markets volatile to sensitivities
in supply.
Festive season demand: December 2023 augurs well for India’s private consumption and demand, as festive and wedding season demand momentum is expected to spillover from November 2023.
US FOMC Meet: The US Federal Open Market Committee (FOMC) meets for the final time in 2023 (12-13th December ). Having kept policy Federal Funds Rates (FFR) steady at 5.25-5.50% in October 2023
and November 2023 , the Fed remains vigilant to inflation risks and maintains a stance of firming up policy to meet its 2% long-term inflation target. Incoming US economy data remains key to the Fed’s stance
and remains a key monitorable for global markets.
Market view
Equity market sentiment improved as risk aversion reduced supported by some positive news flows emerging both globally and locally. Deceleration in US inflationary expectations relative to past and declining
Oil prices despite the production cuts & geopolitical tensions have been important positives.
On the domestic front the activity indicators remained buoyant, and the corporate result season witnessed growth in profitability driven by lower costs. Overall revenue growth remained relatively muted and is
likely to improve in the coming quarters. Rural dependent businesses generally remained under stress. RBI flagged some concerns on retail unsecured credit and increased capital requirements for banks and
NBFCs.
Going forward the sentiment appears to positive supported election results in few states leading to expectation of a political continuity in the upcoming general elections, even as the valuations remains elevated
compared to long term averages. The geo-political challenges remain and may impact the growth trajectory.
We believe Large Cap oriented strategies across Large Cap and Flexi/Multi Cap categories appear to be better placed while Asset allocation products can help to manage the downside risks.
Common Source: NIMF Research, CEIC, Bloomberg
Note: The sectors mentioned are not a recommendation to buy/sell in the said sectors. The schemes may or may not have future position in the said sectors. For complete details on Holdings & Sectors of NIMF schemes, please
visit website mf.nipponindiaim.com. Past performance may or may not be sustained in future.
The views expressed herein constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. This information is meant for general reading purposes only
and is not meant to serve as a professional guide for the readers.

4 December 2023 Fundamentals

Nippon India Large Cap Fund
Large Cap Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Agricultural Food & other Products Finance
Tata Consumer Products Limited 1.04 Bajaj Finance Limited* 3.20
Type of Scheme Automobiles SBI Cards and Payment Services Limited 1.68
Tata Motors Limited 2.15 IT - Software
An open ended equity scheme predominantly investing in large cap Hero MotoCorp Limited 1.27 Infosys Limited* 3.22
stocks. Mahindra & Mahindra Limited 1.09 HCL Technologies Limited 2.97
Banks Insurance
Current Investment Philosophy HDFC Bank Limited* 9.62 SBI Life Insurance Company Limited 1.19
ICICI Bank Limited* 6.88 Leisure Services
This is a large-cap fund, predominantly investing in stocks of the top State Bank of India* 4.06 The Indian Hotels Company Limited 2.33
100 companies by full market capitalization. Large-cap stocks Axis Bank Limited* 3.98 Chalet Hotels Limited 2.26
Capital Markets EIH Limited 1.49
endeavour to provide stability and liquidity to the portfolio. It HDFC Asset Management Company Limited 1.31 Petroleum Products
endeavours to generate alpha while owning the best of the index Construction Reliance Industries Limited* 6.31
companies. It endeavours to invest in leaders or potential leaders Larsen & Toubro Limited* 3.79 Pharmaceuticals & Biotechnology
Diversified FMCG Sun Pharmaceutical Industries Limited 1.06
with established business models and sustainable free cash flows. It
ITC Limited* 4.82 Power
endeavours to invest in growth companies at a reasonable valuation Hindustan Unilever Limited* 3.77 NTPC Limited 3.11
and with a high return on equity. It invests in emerging large-cap Electrical Equipment Tata Power Company Limited 2.96
companies that have an established business model, a proven Siemens Limited 1.42 Retailing
GE T&D India Limited 1.02 Zomato Limited 2.17
management track record, and the potential to generate high cash Entertainment Equity Less Than 1% of Corpus 15.58
flows. Zee Entertainment Enterprises Limited 1.64 Cash and Other Receivables 0.82
Ferrous Metals
Grand Total 100.00
Date of Allotment Tata Steel Limited 1.77
*Top 10 Holdings
August 08, 2007
Fund Manager(s)
Sailesh Raj Bhan (Managing Since Aug 2007) SIP - If you invested ₹ 10000 every month
Total Experience of more than 27 years
Ashutosh Bhargava (Co-Fund Manager) (Managing Since Sep 2021) Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Total Experience of more than 18 years Total Amount Invested (₹) 1,960,000 1,800,000 1,200,000 600,000 360,000 120,000

Benchmark Market Value (₹) 7,272,059 6,194,963 2,664,535 987,965 480,495 135,723

S&P BSE 100 TRI Scheme Return (%) 14.57 15.10 15.31 20.25 20.03 26.52
B: S&P BSE 100 TRI Return (%) 13.16 13.67 14.08 16.75 13.63 19.80
Fund Size
AB: S&P BSE Sensex TRI Return (%) 12.94 13.42 13.82 15.51 12.04 14.70
Monthly Average: ₹ 17,404.65 Cr
Month End: ₹ 18,071.87 Cr Inception Date: August 08, 2007
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
NAV as on November 30, 2023 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Growth Plan ₹ 67.2605 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
IDCW Plan ₹ 23.8010 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Bonus Option ₹ 67.2605 index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Growth Plan ₹ 73.9678
Direct - IDCW Plan ₹ 34.6594
Direct - Bonus Option ₹ 73.9678
Industry Allocation IDCW History
Volatility Measures Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Standard Deviation 4.10 Banks 25.93% IDCW Plan
Beta 0.99 Diversified FMCG 8.59%
03-Mar-23 1.75 21.1579 19.4079
Sharpe Ratio 0.34 04-Mar-22 1.75 19.3434 17.5934
IT - Software 6.76% 13-Feb-20 0.09 15.1610 15.0610
Note: The above measures have been calculated using monthly rolling Direct - IDCW Plan
returns for 36 months period with 6.9% risk free return (FBIL Petroleum Products 6.31%
03-Mar-23 1.75 29.8443 28.0943
Overnight MIBOR as on 30/11/2023). Leisure Services 6.09% 04-Mar-22 1.75 26.3499 24.5999
13-Feb-20 0.09 20.2638 20.1638
Power 6.07%
Portfolio Turnover (Times) 0.40 Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
Finance 5.46% Face Value-₹10.
Total Expense Ratio^ Automobiles 4.52%
Regular/Other than Direct 1.69
Construction 3.79%
Direct 0.83 AMFI Classification
Pharmaceuticals &
3.47%
Biotechnology
Load structure
Entry Load:Not Applicable
Exit Load:1% if redeemed or switched out on or before completion of
7 days from the date of allotment of units.
Nil, thereafter.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Large Cap Fund S&P BSE 100 TRI
Long term capital growth
Investment predominantly into equity and equity related instruments of large
cap companies

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 5

Nippon India Vision Fund
Large & Mid Cap Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Sundaram Finance Limited 1.46
Bharat Electronics Limited 1.17 Bajaj Finance Limited 1.18
Type of Scheme Auto Components IT - Software
Samvardhana Motherson International Limited 1.13 LTIMindtree Limited 1.92
An open ended equity scheme investing in both large cap and mid Automobiles Infosys Limited 1.56
cap stock. Hero MotoCorp Limited 1.64 HCL Technologies Limited 1.54
TVS Motor Company Limited 1.62 Persistent Systems Limited 1.36
Insurance
Current Investment Philosophy Banks
Max Financial Services Limited 1.47
HDFC Bank Limited* 6.51
The fund is an open-ended equity scheme investing in both large-cap ICICI Bank Limited* 4.46 ICICI Lombard General Insurance Company Limited 1.08
and mid-cap stocks. The fund attempts to invest in high-quality Axis Bank Limited* 1.97 SBI Life Insurance Company Limited 1.07
State Bank of India 1.61 Personal Products
businesses that are market leaders in their respective sectors and Beverages Godrej Consumer Products Limited 1.44
have a proven track record across market conditions. United Breweries Limited 1.36 Petroleum Products
Large-cap stocks endeavour to provide stability and liquidity to the Cement & Cement Products Reliance Industries Limited* 2.34
Grasim Industries Limited 1.60 Pharmaceuticals & Biotechnology
portfolio, and mid-cap allocations can potentially generate relatively Aurobindo Pharma Limited* 2.50
Dalmia Bharat Limited 1.25
better returns. Backed by fund management expertise and a growth- Construction Lupin Limited 1.16
oriented strategy, the fund endeavours to generate relatively better Larsen & Toubro Limited* 2.48 Alkem Laboratories Limited 1.13
Consumable Fuels Zydus Lifesciences Limited 1.12
risk-adjusted returns over the long term. Power
Coal India Limited 1.49
Consumer Durables NTPC Limited* 3.82
Date of Allotment Dixon Technologies (India) Limited* 1.98 Realty
October 08, 1995 Kansai Nerolac Paints Limited 1.41 DLF Limited 1.67
Kajaria Ceramics Limited 1.32 Retailing
Fund Manager(s) Voltas Limited 1.02 Avenue Supermarts Limited 1.39
Diversified FMCG Telecom - Services
Amar Kalkundrikar(Managing Since Jun 2021) ITC Limited 1.56 Bharti Airtel Limited 1.62
Total Experience of more than 20 years Electrical Equipment Indus Towers Limited 1.47
Bharat Heavy Electricals Limited* 4.08 Equity Less Than 1% of Corpus 21.93
Aishwarya Deepak Agarwal (Managing Since Jun 2021)
Ferrous Metals Cash and Other Receivables 2.32
Total Experience of more than 23 years Jindal Steel & Power Limited* 2.32 Grand Total 100.00
Finance
Benchmark *Top 10 Holdings
Power Finance Corporation Limited 1.48
Nifty LargeMidcap 250 TRI
Fund Size
Monthly Average: ₹ 3,605.17 Cr SIP - If you invested ₹ 10000 every month
Month End: ₹ 3,756.12 Cr
Since Inception 25 Years 20 Years 15 Years 10 Years 5 Years 3 Years 1 Year
NAV as on November 30, 2023 Total Amount Invested (₹) 3,370,000 3,000,000 2,400,000 1,800,000 1,200,000 600,000 360,000 120,000
Growth Plan ₹ 1,047.2598 Market Value (₹) 79,164,912 43,824,513 10,606,841 5,169,839 2,427,099 978,757 470,233 139,560
IDCW Plan ₹ 56.3212
Scheme Return (%) 18.26 17.85 13.19 13.00 13.56 19.86 18.46 33.29
Bonus Option ₹ 176.3854
Direct - Growth Plan ₹ 1,116.1809 B: Nifty LargeMidcap 250 TRI Return
N.A N.A N.A 16.33 16.96 21.78 19.24 33.35
Direct - IDCW Plan ₹ 62.3650 (%)
Direct - Bonus Option ₹ 189.2397 AB: S&P BSE Sensex TRI Return (%) N.A 14.67 13.52 13.42 13.82 15.51 12.04 14.70
Inception Date: October 08, 1995
Volatility Measures N.A: Since TRI data is not available prior to 01/04/2005 & 19/08/1996 for Nifty LargeMidcap 250 & S&P BSE Sensex respectively, performance for such
Standard Deviation 3.81 period is not provided
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Beta 0.89 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Sharpe Ratio 0.31 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Note: The above measures have been calculated using monthly rolling B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
returns for 36 months period with 6.9% risk free return (FBIL index stocks, thereby showing a true picture of returns.
Overnight MIBOR as on 30/11/2023). For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Portfolio Turnover (Times) 1.06

Total Expense Ratio^ Industry Allocation IDCW History

Regular/Other than Direct 2.02 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Banks 15.88% IDCW Plan
Direct 1.50
20-Jan-23 2.00 47.2346 45.2346
IT - Software 7.85%
Load structure Pharmaceuticals &
21-Jan-22 2.00 47.0102 45.0102
7.69% 22-Jan-21 3.00 40.0831 37.0831
Entry Load:Not Applicable Biotechnology
Direct - IDCW Plan
Exit Load:10% of the units allotted shall be redeemed without any Consumer Durables 6.07%
20-Jan-23 2.00 51.8701 49.8701
exit load, on or before completion of 12 months from the date of Finance 5.89% 21-Jan-22 2.00 51.1780 49.1780
22-Jan-21 3.00 43.1794 40.1794
allotment of units. Power 4.82% Past performance may or may not be sustained in future. Pursuant to IDCW
Any redemption in excess of such limit in the first 12 months from Electrical payment, NAV falls to the extent of payout & statutory levy (if applicable).
4.76%
the date of allotment shall be subject to the following exit load, Equipment Face Value-₹10.
Redemption of units would be done on First in First out Basis (FIFO): Automobiles 3.85%
1% if redeemed or switched out on or before completion of 12 Insurance 3.61%
months from the date of allotment of units. AMFI Classification
Ferrous Metals 3.17%
Nil, thereafter.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Vision Fund Nifty LargeMidcap 250 TRI
Long term capital growth
investment in equity and equity related instruments of large cap & mid cap
companies through a research based approach

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

6 December 2023 Fundamentals

Nippon India Quant Fund
Thematic (following a factor based model) Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Bajaj Finance Limited 3.10
Hindustan Aeronautics Limited* 3.32 REC Limited 2.58
Type of Scheme Agricultural, Commercial & Construction Vehicles LIC Housing Finance Limited 1.49
Escorts Kubota Limited 1.44 Food Products
An open ended equity scheme investing in quant model theme. Auto Components Nestle India Limited 2.37
Samvardhana Motherson International Limited 1.39 IT - Software
Current Investment Philosophy Automobiles Tata Consultancy Services Limited* 4.45
Tata Motors Limited* 3.60 Infosys Limited 3.17
The fund is an actively managed investment fund that approaches Tata Elxsi Limited 1.35
Bajaj Auto Limited 3.18
stock selection process based on a proprietary system-based model. Hero MotoCorp Limited 2.12 Insurance
The model would shortlist 30-35 S&P BSE 200 stocks through a Banks ICICI Lombard General Insurance Company Limited 1.71
HDFC Bank Limited* 8.82 Minerals & Mining
screening mechanism at pre-determined intervals, i.e. on quarterly NMDC Limited 1.98
ICICI Bank Limited* 6.94
basis. Stocks are selected on basis of parameters like valuation, State Bank of India 2.70 Personal Products
earnings, price, momentum & quality. Actively managed fund + IndusInd Bank Limited 2.33 Colgate Palmolive (India) Limited 1.91
Construction Procter & Gamble Hygiene and Health Care Limited 1.65
Scientific approach + Expertise + Back test = Nippon India Quant Petroleum Products
Larsen & Toubro Limited* 4.89
Fund Consumable Fuels Reliance Industries Limited* 4.55
Coal India Limited 2.31 Indian Oil Corporation Limited 1.70
Date of Allotment Consumer Durables Pharmaceuticals & Biotechnology
Dixon Technologies (India) Limited 1.56 Aurobindo Pharma Limited 2.04
April 18, 2008 Abbott India Limited 1.81
Diversified
3M India Limited 1.35 Cipla Limited 1.72
Fund Manager(s) Diversified FMCG Lupin Limited 1.39
Ashutosh Bhargava (Managing Since Sep 2017) ITC Limited* 4.74 Power
Electrical Equipment NTPC Limited* 3.53
Total Experience of more than 18 years
ABB India Limited 1.64 Cash and Other Receivables 1.51
Finance Grand Total 100.00
Benchmark Power Finance Corporation Limited* 3.65 *Top 10 Holdings
S&P BSE 200 TRI
Fund Size
Monthly Average: ₹ 44.07 Cr
SIP - If you invested ₹ 10000 every month
Month End: ₹ 45.94 Cr
Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
NAV as on November 30, 2023
Total Amount Invested (₹) 1,880,000 1,800,000 1,200,000 600,000 360,000 120,000
Growth Plan ₹ 52.4417
IDCW Plan ₹ 27.9561 Market Value (₹) 5,723,627 5,241,794 2,538,198 983,199 475,730 138,374
Bonus Option ₹ 52.4417 Scheme Return (%) 13.06 13.16 14.40 20.05 19.30 31.18
Direct - Growth Plan ₹ 56.3346 B: S&P BSE 200 TRI Return (%) 14.04 14.20 14.67 17.67 14.46 22.97
Direct - IDCW Plan ₹ 32.3167
AB: S&P BSE Sensex TRI Return (%) 13.28 13.42 13.82 15.51 12.04 14.70
Direct - Bonus Option ₹ 56.3346
Inception Date: April 18, 2008
Volatility Measures Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Standard Deviation 3.89 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Beta 0.90 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Sharpe Ratio 0.31 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Note: The above measures have been calculated using monthly rolling For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).

Portfolio Turnover (Times) 1.06 Industry Allocation IDCW History

Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Total Expense Ratio^ Banks 20.80% IDCW Plan
Regular/Other than Direct 0.96 Finance 10.82%
24-Jun-15 4.20 14.6973 10.4973
15-Feb-13 1.00 11.6059 10.6059
Direct 0.38
IT - Software 8.97% 24-Mar-11 2.50 13.2676 11.1021
Direct - IDCW Plan
Load structure Automobiles 8.90%
24-Jun-15 4.70 16.3432 11.6432
Entry Load:Not Applicable Pharmaceuticals &
6.96% Past performance may or may not be sustained in future. Pursuant to IDCW
Biotechnology payment, NAV falls to the extent of payout & statutory levy (if applicable).
Exit Load:0.25% if redeemed or switched out on or before completion
Petroleum Products 6.26% Face Value-₹10.
of 1 month from the date of allotment of units.
Nil, thereafter. Construction 4.89%

Diversified FMCG 4.74%

Personal Products 3.56%

AMFI Classification
Power 3.53%

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Quant Fund S&P BSE 200 TRI
Long term capital growth
Investment in active portfolio of stocks selected on the basis of a
mathematical model.

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 7

Nippon India Growth Fund
Mid Cap Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Industrial Products
Bharat Electronics Limited 1.11 Supreme Industries Limited* 2.50
Type of Scheme Agricultural, Commercial & Construction Vehicles Polycab India Limited 1.48
Ashok Leyland Limited 1.07 Cummins India Limited 1.16
Mid Cap Fund - An open ended equity scheme predominantly Auto Components Insurance
investing in mid cap stocks. Tube Investments of India Limited 1.16 Max Financial Services Limited* 2.37
Endurance Technologies Limited 1.02 Leisure Services
Current Investment Philosophy Banks Devyani International Limited 1.36
AU Small Finance Bank Limited* 2.44 The Indian Hotels Company Limited 1.18
The fund endeavors to invest in mid cap companies that have the The Federal Bank Limited 1.68 Pharmaceuticals & Biotechnology
potential to substantially increase their profitability and have HDFC Bank Limited 1.46 Alkem Laboratories Limited 1.75
Axis Bank Limited 1.14 IPCA Laboratories Limited 1.51
consistent track record. The fund focuses on identifying potential Beverages Lupin Limited 1.20
market leaders at an early stage with a view to create long term Varun Beverages Limited* 2.64 Power
alpha. The fund attempts to identify growth stocks that are available United Breweries Limited 1.11 NTPC Limited* 1.85
Capital Markets Realty
at reasonable valuation, thus adopting a GARP (Growth at Reasonable
Angel One Limited* 2.38 Prestige Estates Projects Limited 1.75
Price) style for investing. Cement & Cement Products Retailing
Dalmia Bharat Limited 1.70 Trent Limited 1.79
Date of Allotment Consumer Durables Aditya Birla Fashion and Retail Limited 1.67
Dixon Technologies (India) Limited 1.03 Zomato Limited 1.42
October 08, 1995 Textiles & Apparels
Finance
Power Finance Corporation Limited* 4.78 Page Industries Limited 1.19
Fund Manager(s) Cholamandalam Financial Holdings Limited* 2.85 Transport Services
Rupesh Patel (Managing Since Jan 2023) Mahindra & Mahindra Financial Services Limited 1.41 Container Corporation of India Limited 1.52
REC Limited 1.14 InterGlobe Aviation Limited 1.18
Total Experience of more than 24 years Healthcare Services Equity Less Than 1% of Corpus 34.75
Sanjay Doshi (Assistant Fund Manager) (Managing Since Jan 2023) Fortis Healthcare Limited* 1.90 Cash and Other Receivables 3.02
Total Experience of more than 19 years Max Healthcare Institute Limited 1.22
Grand Total 100.00
IT - Software
*Top 10 Holdings
Benchmark Persistent Systems Limited* 2.12

NIFTY Midcap 150 TRI

Fund Size
Monthly Average: ₹ 20,339.22 Cr SIP - If you invested ₹ 10000 every month
Month End: ₹ 21,380.48 Cr Since Inception 25 Years 20 Years 15 Years 10 Years 5 Years 3 Years 1 Year
NAV as on November 30, 2023 Total Amount Invested (₹) 3,370,000 3,000,000 2,400,000 1,800,000 1,200,000 600,000 360,000 120,000
Growth Plan ₹ 2,978.2453 Market Value (₹) 188,057,757 91,802,616 19,164,801 7,967,559 3,402,021 1,201,926 534,279 150,125
IDCW Plan ₹ 102.9427 Scheme Return (%) 22.82 22.33 17.98 17.98 19.86 28.48 27.89 52.46
Bonus Option ₹ 495.7872
B: NIFTY Midcap 150 TRI Return
Direct - Growth Plan ₹ 3,219.4490 N.A N.A N.A 19.13 20.17 27.90 26.28 49.09
(%)
Direct - IDCW Plan ₹ 154.4088
Direct - Bonus Option ₹ 534.8584 AB: S&P BSE Sensex TRI Return
N.A 14.67 13.52 13.42 13.82 15.51 12.04 14.70
(%)
Institutional - IDCW Plan ₹ 1,036.4458
Inception Date: October 08, 1995
Volatility Measures N.A: Since TRI data is not available prior to 01/04/2005 & 19/08/1996 for NIFTY Midcap 150 & S&P BSE Sensex respectively, performance for such
period is not provided
Standard Deviation 4.18 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Beta 0.87 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Sharpe Ratio 0.43 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Note: The above measures have been calculated using monthly rolling TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
returns for 36 months period with 6.9% risk free return (FBIL index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Overnight MIBOR as on 30/11/2023).

Portfolio Turnover (Times) 0.19

Industry Allocation IDCW History
Total Expense Ratio^
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Regular/Other than Direct 1.67 Finance 11.38% IDCW Plan
Direct 0.85 Industrial Products 7.79% 10-Mar-23 5.00 77.1014 72.1014
11-Mar-22 4.50 75.6971 71.1971
Load structure Banks 7.70% 12-Mar-21 4.50 67.1653 62.6653
Entry Load:Not Applicable Pharmaceuticals &
7.36% Direct - IDCW Plan
Biotechnology 10-Mar-23 5.00 112.5541 107.5541
Exit Load:1% if redeemed or switched out on or before completion of Retailing 5.64% 11-Mar-22 4.50 107.5901 103.0901
1 month from the date of allotment of units. 12-Mar-21 4.50 92.9024 88.4024
Auto Components 4.51%
Nil, thereafter. Institutional - IDCW Plan
Consumer Durables 4.46% 11-Mar-22 45.00 711.7538 666.7538
12-Mar-21 45.00 632.4024 587.4024
Beverages 4.18%
13-Mar-20 70.83 470.7325 390.7325
IT - Software 4.07% Past performance may or may not be sustained in future. Pursuant to IDCW
AMFI Classification payment, NAV falls to the extent of payout & statutory levy (if applicable).
Capital Markets 3.61% Face Value-₹10.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Growth Fund NIFTY Midcap 150 TRI
Long term capital growth
Investment in equity and equity related instruments through a research
based approach

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

8 December 2023 Fundamentals

Nippon India Focused Equity Fund
Focused Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Auto Components Cholamandalam Financial Holdings Limited 1.53
Varroc Engineering Limited 2.91 IT - Services
Type of Scheme Automobiles Affle (India) Limited 3.13
Hero MotoCorp Limited* 3.99 IT - Software
An open ended Multi Cap Equity Scheme investing in maximum 30 Banks Infosys Limited* 5.80
stocks. HDFC Bank Limited* 8.69 Tech Mahindra Limited 2.13
Axis Bank Limited* 7.10 Industrial Manufacturing
Current Investment Philosophy ICICI Bank Limited* 6.73 Honeywell Automation India Limited 2.26
State Bank of India* 4.58 Industrial Products
This is a multi-cap fund which endeavours to invest in an active and Capital Markets Bharat Forge Limited 2.55
concentrated portfolio of upto 30 stocks across market capitalisation. Angel One Limited 1.77 Leisure Services
Construction Restaurant Brands Asia Limited 2.45
The fund adopts a combination of top-down and bottom-up
Sterling And Wilson Renewable Energy Limited 1.32 Thomas Cook (India) Limited 2.44
investment approach to identify sector and stock weightage in the Consumable Fuels Sapphire Foods India Limited 2.00
portfolio. The portfolio is well diversified across stocks & themes. Coal India Limited 2.42 Petroleum Products
The fund's strategy revolves around – niche ideas, focus on Diversified Reliance Industries Limited* 4.01
3M India Limited* 3.62 Retailing
companies with favorable risk reward potential, and an optimal mix Diversified FMCG FSN E-Commerce Ventures Limited 2.38
of growth & value plays ITC Limited* 4.78 MedPlus Health Services Limited 2.27
Electrical Equipment Transport Services
Date of Recategorisation Bharat Heavy Electricals Limited 2.10 Container Corporation of India Limited 2.05
Entertainment Equity Less Than 1% of Corpus 0.99
April 28, 2018 Zee Entertainment Enterprises Limited 2.51 Cash and Other Receivables 6.09
PVR INOX Limited 2.02 Grand Total 100.00
Fund Manager(s) Finance
*Top 10 Holdings
Vinay Sharma (Managing Since May 2018) SBI Cards and Payment Services Limited* 3.40
Total Experience of more than 19 years
Prateek Poddar (Co-Fund Manager) (Managing Since Jun 2021)
Total Experience of more than 10 years
SIP - If you invested ₹ 10000 every month
Benchmark
Since Inception 5 Years 3 Years 1 Year
S&P BSE 500 TRI
Total Amount Invested (₹) 680,000 600,000 360,000 120,000
Fund Size Market Value (₹) 1,166,762 997,137 461,621 136,980
Monthly Average: ₹ 7,157.62 Cr Scheme Return (%) 19.16 20.63 17.13 28.73
Month End: ₹ 7,383.91 Cr
B: S&P BSE 500 TRI Return (%) 17.54 18.63 15.62 25.89
NAV as on November 30, 2023 AB: S&P BSE Sensex TRI Return (%) 15.04 15.51 12.04 14.70
Growth Plan ₹ 97.3146
*Date of Recategorisation: April 28, 2018
IDCW Plan ₹ 33.1369
*Reliance Focused Large Cap Fund was merged into Reliance Mid & Small Cap Fund and the merged scheme was renamed as Nippon India Focused
Direct - Growth Plan ₹ 105.8801 Equity Fund (formerly Reliance Focused Equity Fund) (‘Scheme’) with effect from April 28, 2018. In line with SEBI circular
Direct - IDCW Plan ₹ 44.0167 SEBI/HO/IMD/DF3/CIR/P/2018/69 dated April 12, 2018, since the Scheme did not retain the features of either the transferor or transferee scheme, the
performance has been provided herein since the effective date i.e. April 28, 2018
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Volatility Measures installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Standard Deviation 4.51 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Beta 1.00 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Sharpe Ratio 0.30 index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Industry Allocation IDCW History
Portfolio Turnover (Times) 0.46 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Banks 27.09% IDCW Plan
Total Expense Ratio^ 17-Mar-23 2.50 28.5489 26.0489
IT - Software 7.92%
Regular/Other than Direct 1.86 15-Mar-22 1.25 29.1607 27.9107
Leisure Services 6.89% 06-Mar-20 1.33 17.6468 16.1468
Direct 1.16
Direct - IDCW Plan
Finance 4.93%
17-Mar-23 2.50 36.9389 34.4389
Load structure 15-Mar-22 1.25 37.0998 35.8498
Diversified FMCG 4.78%
Entry Load:Not Applicable 06-Mar-20 1.33 21.7651 20.2651
Exit Load:10% of the units allotted shall be redeemed without any Retailing 4.65% Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
exit load, on or before completion of 12 months from the date of Entertainment 4.52% Face Value-₹10.
allotment of units. Petroleum Products 4.01%
Any redemption in excess of such limit in the first 12 months from
Automobiles 3.99%
the date of allotment shall be subject to the following exit load, AMFI Classification
Redemption of units would be done on First in First out Basis (FIFO): Diversified 3.62%
1% if redeemed or switched out on or before completion of 12
months from the date of allotment of units.
Nil, thereafter.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Focused Equity S&P BSE 500 TRI
This product is suitable for investors who are seeking*:
Fund
Long term capital growth
Investment in equity and equity related securities including derivatives

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 9

Nippon India Small Cap Fund
Small cap Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Aerospace & Defense CreditAccess Grameen Limited* 1.40
Type of Scheme Hindustan Aeronautics Limited 1.16 Household Products
An open-ended equity scheme predominantly investing in small cap Agricultural Food & other Products Jyothy Labs Limited 1.04
stocks. Balrampur Chini Mills Limited 1.07 IT - Services
Current Investment Philosophy Auto Components Cyient Limited 1.17
Tube Investments of India Limited* 2.68 IT - Software
The fund attempts to generate relatively better risk adjusted returns
by focusing on the smaller capitalization companies. Small cap Banks KPIT Technologies Limited* 1.74
stocks, for the purpose of the fund are defined as stocks whose HDFC Bank Limited* 1.84 Industrial Products
market capitalization is below top 250 companies in terms of full Karur Vysya Bank Limited* 1.20 Elantas Beck India Limited* 1.17
market capitalization. Small cap companies are potential mid caps of Capital Markets Kirloskar Brothers Limited 1.05
tomorrow and offer twin advantage of high growth prospects & Multi Commodity Exchange of India Limited* 1.44 Other Consumer Services
relatively lower valuation. The fund focuses on identifying good Commercial Services & Supplies NIIT Learning Systems Limited 1.09
growth businesses with reasonable size, quality management and eClerx Services Limited 1.07 Telecom - Equipment & Accessories
rational valuation. The investment approach adopts prudent risk Construction Tejas Networks Limited 1.12
management measures like margin of safety and diversification Larsen & Toubro Limited 1.08 Transport Services
across sectors & stocks with a view to generate relatively better risk
ION Exchange (India) Limited 1.02 InterGlobe Aviation Limited 1.07
adjusted performance over a period of time.
Electrical Equipment Equity Less Than 1% of Corpus 68.64
Date of Allotment Apar Industries Limited* 1.52 Cash and Other Receivables 3.74
September 16, 2010 Bharat Heavy Electricals Limited* 1.51 Grand Total 100.00
Voltamp Transformers Limited* 1.17 *Top 10 Holdings
Fund Manager(s) Finance
Samir Rachh (Managing Since Jan 2017)
Total Experience of more than 32 years
Tejas Sheth (Assistant Fund Manager) (Managing Since Feb 2023)
SIP - If you invested ₹ 10000 every month
Total Experience of more than 18 years
Since Inception 10 Years 5 Years 3 Years 1 Year
Benchmark
Total Amount Invested (₹) 1,590,000 1,200,000 600,000 360,000 120,000
Nifty Smallcap 250 TRI
Market Value (₹) 9,830,331 4,455,261 1,419,208 575,366 150,799
Fund Size Scheme Return (%) 24.98 24.87 35.62 33.54 53.71
Monthly Average: ₹ 39,325.06 Cr B: Nifty Smallcap 250 TRI Return (%) 17.49 18.53 30.09 28.62 61.08
Month End: ₹ 41,018.84 Cr
AB: S&P BSE Sensex TRI Return (%) 13.46 13.82 15.51 12.04 14.70
NAV as on November 30, 2023 Inception Date: September 16, 2010
Growth Plan ₹ 131.1034 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
IDCW Plan ₹ 82.6013 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Bonus Option ₹ 131.1034 consideration.
Direct - Growth Plan ₹ 145.0677 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Direct - IDCW Plan ₹ 93.5077 index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Bonus Option ₹ 145.0677

Volatility Measures
Industry Allocation IDCW History
Standard Deviation 4.56 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Beta 0.80 Industrial Products 8.34% IDCW Plan
Sharpe Ratio 0.53 Electrical
7.21% 03-Feb-23 5.00 62.5653 57.5653
Equipment
Note: The above measures have been calculated using monthly rolling Pharmaceuticals &
04-Feb-22 2.50 61.9734 59.4734
6.12% 07-Feb-18 3.00 35.9501 32.9501
returns for 36 months period with 6.9% risk free return (FBIL Biotechnology
Direct - IDCW Plan
Overnight MIBOR as on 30/11/2023). Auto Components 5.84%
03-Feb-23 5.00 69.7310 64.7310
Construction 5.38% 04-Feb-22 2.50 68.1662 65.6662
Portfolio Turnover (Times) 0.19 07-Feb-18 3.00 37.8948 34.8948
Finance 5.36%
Past performance may or may not be sustained in future. Pursuant to IDCW
Total Expense Ratio^ Banks 5.21% payment, NAV falls to the extent of payout & statutory levy (if applicable).
Face Value-₹10.
Regular/Other than Direct 1.53 Consumer Durables 4.77%
Direct 0.69 IT - Software 4.15%
AMFI Classification
Load structure Capital Markets 3.92%

Entry Load:Not Applicable

Exit Load:1% if redeemed or switched out on or before completion of
1 month from the date of allotment of units.
Nil, thereafter.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Small Cap Fund Nifty Smallcap 250 TRI

Investors are requested to note that Nippon India Mutual Fund has decided to Long term capital growth
Investment in equity and equity related securities of small cap companies
limit the subscription of units in Nippon India Small Cap Fund ("the Scheme")
wef. July 07, 2023. Kindly refer to Notice cum addendum no. 20. Dated July 06,
2023.

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

10 December 2023 Fundamentals

Nippon India Value Fund
Value Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Indian Renewable Energy Development Agency Limited 1.28
Bharat Electronics Limited 1.01 Cholamandalam Financial Holdings Limited 1.21
Type of Scheme Automobiles Healthcare Services
Hero MotoCorp Limited 2.44 Fortis Healthcare Limited 1.05
An open ended equity scheme following a value investment strategy. Tata Motors Limited 1.70 IT - Software
Mahindra & Mahindra Limited 1.53 Infosys Limited* 3.81
Current Investment Philosophy Banks Intellect Design Arena Limited 1.02
HDFC Bank Limited* 5.51 Insurance
The fund follows a value investment strategy with an aim to ICICI Bank Limited* 5.40 Max Financial Services Limited* 2.50
participate in investment opportunities across all sectors and market State Bank of India 1.53 SBI Life Insurance Company Limited 1.39
capitalization. The fund endeavors to invest in undervalued stocks Equitas Small Finance Bank Limited 1.05 Non - Ferrous Metals
IndusInd Bank Limited 1.04 Hindalco Industries Limited 1.12
having the potential to deliver long term relatively better risk- Capital Markets Oil
adjusted returns. Undervalued stocks will be identified based on the Angel One Limited* 3.56 Oil & Natural Gas Corporation Limited 1.76
evaluation of various factors including but not limited to stock UTI Asset Management Company Limited 1.05 Others 0.25
Construction Nippon India ETF Nifty 50 Value 20 0.25
valuation, financial strength, cash flows, company’s competitive Larsen & Toubro Limited* 3.41 Petroleum Products
advantage, business prospects, and earnings potential. Consumable Fuels Reliance Industries Limited* 2.53
Coal India Limited 1.38 Pharmaceuticals & Biotechnology
Date of Allotment Consumer Durables Alkem Laboratories Limited 1.37
Dixon Technologies (India) Limited 2.05 Torrent Pharmaceuticals Limited 1.21
June 08, 2005 PG Electroplast Limited 1.07 Power
Diversified FMCG NTPC Limited* 2.93
Fund Manager(s) ITC Limited 1.93 Realty
Dhrumil Shah (Managing Since Jan 2023) Electrical Equipment The Phoenix Mills Limited 1.13
Bharat Heavy Electricals Limited 1.65 Retailing
Total Experience of more than 17 years Inox Wind Limited 1.13 Aditya Birla Fashion and Retail Limited 2.32
Meenakshi Dawar (Managing Since May 2018) Entertainment Electronics Mart India Limited 1.91
Total Experience of more than 14 years Zee Entertainment Enterprises Limited 1.10 Telecom - Services
Ferrous Metals Bharti Airtel Limited* 2.84
Benchmark Jindal Steel & Power Limited 1.56 Equity Less Than 1% of Corpus 21.49
Finance
Nifty 500 TRI Cash and Other Receivables 1.33
Power Finance Corporation Limited* 2.96
LIC Housing Finance Limited 1.51 Grand Total 100.00
Fund Size *Top 10 Holdings

Monthly Average: ₹ 5,901.44 Cr

Month End: ₹ 6,193.00 Cr
NAV as on November 30, 2023 SIP - If you invested ₹ 10000 every month
Growth Plan ₹ 165.5310 Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
IDCW Plan ₹ 39.0500
Total Amount Invested (₹) 2,220,000 1,800,000 1,200,000 600,000 360,000 120,000
Direct - Growth Plan ₹ 179.1419
Direct - IDCW Plan ₹ 58.0471 Market Value (₹) 11,648,617 6,810,018 2,935,184 1,072,065 500,239 146,024
Scheme Return (%) 15.87 16.18 17.11 23.66 22.98 44.93
Volatility Measures B: Nifty 500 TRI Return (%) 13.39 14.24 14.88 18.52 15.69 26.46
Standard Deviation 4.19
AB: S&P BSE Sensex TRI Return (%) 12.85 13.42 13.82 15.51 12.04 14.70
Beta 0.99
Sharpe Ratio 0.36 Inception Date: June 08, 2005
Note: The above measures have been calculated using monthly rolling Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
returns for 36 months period with 6.9% risk free return (FBIL out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Overnight MIBOR as on 30/11/2023). B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
0.49 index stocks, thereby showing a true picture of returns.
Portfolio Turnover (Times) For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Total Expense Ratio^

Regular/Other than Direct 1.89
Direct 1.16 Industry Allocation IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Load structure Banks 15.24% IDCW Plan
Entry Load:Not Applicable Finance 8.15%
17-Mar-23 2.00 30.1321 28.1321
Exit Load:10% of the units allotted shall be redeemed without any 15-Mar-22 1.25 31.4429 30.1929
05-Mar-21 1.50 27.4159 25.9159
exit load, on or before completion of 12 months from the date of Automobiles 6.41%
Direct - IDCW Plan
allotment of units. IT - Software 6.29%
17-Mar-23 2.00 43.6101 41.6101
Any redemption in excess of such limit in the first 12 months from Consumer Durables 5.37% 15-Mar-22 1.25 44.6291 43.3791
the date of allotment shall be subject to the following exit load, 05-Mar-21 1.50 38.0379 36.5379
Insurance 4.74%
Redemption of units would be done on First in First out Basis (FIFO): Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
1% if redeemed or switched out on or before completion of 12 Capital Markets 4.61% Face Value-₹10.
months from the date of allotment of units. Retailing 4.22%
Nil, thereafter. Pharmaceuticals &
4.12%
Biotechnology
AMFI Classification
Construction 4.02%

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Value Fund Nifty 500 TRI
Long term capital growth
Investment in equity and equity related securities

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 11

Nippon India Multi Cap Fund
Multi Cap Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Auto Components Infosys Limited 1.41
CIE Automotive India Limited 1.05 Industrial Manufacturing
Type of Scheme Banks Kennametal India Limited 2.02
HDFC Bank Limited* 6.53 Industrial Products
Multi Cap Fund - An open ended equity scheme investing across ICICI Bank Limited* 3.30 Vesuvius India Limited* 2.71
large cap, mid cap, small cap stocks. Axis Bank Limited* 2.84 Insurance
State Bank of India 2.19 Max Financial Services Limited* 2.31
Current Investment Philosophy Kotak Mahindra Bank Limited 1.08 Leisure Services
Capital Markets EIH Limited* 3.01
The fund seeks to invest minimum 25% investment each in large, mid HDFC Asset Management Company Limited* 2.62 The Indian Hotels Company Limited* 2.23
and small cap companies. Investment in large caps may help to Chemicals & Petrochemicals Petroleum Products
Linde India Limited* 4.15 Reliance Industries Limited 2.10
capture market movements & aims to ensure liquidity in volatile Construction Pharmaceuticals & Biotechnology
times while exposure to niche themes (primarily mid/small cap Larsen & Toubro Limited 2.06 Gland Pharma Limited 1.11
companies) having scalable business models aims to offer alpha. Diversified FMCG Power
The fund endeavours to identify opportunities ahead of the market. ITC Limited 1.92 NTPC Limited* 2.30
Hindustan Unilever Limited 1.12 Tata Power Company Limited 1.53
High conviction investment strategy with a focus on ‘growth at Electrical Equipment Retailing
reasonable valuations'. GE T&D India Limited 1.29 Shoppers Stop Limited 1.42
The fund follows a combination of top down and bottom-up Entertainment Aditya Birla Fashion and Retail Limited 1.34
PVR INOX Limited 2.04 Trent Limited 1.23
approaches and aims to take active sector calls. Zee Entertainment Enterprises Limited 2.00 Zomato Limited 1.02
Finance Equity Less Than 1% of Corpus 34.10
Date of Allotment Bajaj Finance Limited 1.53 Cash and Other Receivables 1.67
March 28, 2005 SBI Cards and Payment Services Limited 1.14
IT - Software
Grand Total 100.00
HCL Technologies Limited 1.65 *Top 10 Holdings
Fund Manager(s)
Sailesh Raj Bhan (Managing Since Mar 2005)
Total Experience of more than 27 years
Ashutosh Bhargava (Co-Fund Manager) (Managing Since Sep 2021)
SIP - If you invested ₹ 10000 every month
Total Experience of more than 18 years
Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Benchmark Total Amount Invested (₹) 2,240,000 1,800,000 1,200,000 600,000 360,000 120,000
NIFTY 500 Multicap 50:25:25 TRI
Market Value (₹) 12,845,938 7,361,730 2,939,363 1,132,414 531,302 142,620
Fund Size Scheme Return (%) 16.50 17.08 17.14 25.96 27.46 38.76
Monthly Average: ₹ 21,848.19 Cr B: NIFTY 500 Multicap 50:25:25 TRI Return (%) 14.99 15.95 16.59 22.39 19.86 36.07
Month End: ₹ 22,695.37 Cr
AB: S&P BSE Sensex TRI Return (%) 12.93 13.42 13.82 15.51 12.04 14.70
NAV as on November 30, 2023 Inception Date: March 28, 2005
Growth Plan ₹ 217.1826 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
IDCW Plan ₹ 54.5592 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Bonus Option ₹ 217.1826 consideration.
Direct - Growth Plan ₹ 235.1995 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Direct - IDCW Plan ₹ 75.5522 index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Bonus Option ₹ 235.1995

Volatility Measures
Standard Deviation 4.59 Industry Allocation IDCW History
Beta 0.99 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Sharpe Ratio 0.43 Banks 16.64% IDCW Plan
Note: The above measures have been calculated using monthly rolling Retailing 7.06%
10-Mar-23 3.75 44.3114 40.5614
returns for 36 months period with 6.9% risk free return (FBIL 11-Mar-22 1.75 40.8490 39.0990
Pharmaceuticals &
6.80% 22-Mar-19 2.43 30.4022 27.6522
Overnight MIBOR as on 30/11/2023). Biotechnology
Direct - IDCW Plan
Leisure Services 6.38%
10-Mar-23 3.75 59.6279 55.8779
Portfolio Turnover (Times) 0.30 11-Mar-22 1.75 53.9654 52.2154
Finance 5.90%
22-Mar-19 2.43 38.5624 35.8124
Electrical
Total Expense Ratio^ Equipment
4.56% Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
Regular/Other than Direct 1.67 Auto Components 4.55% Face Value-₹10.
Direct 0.87 Capital Markets 4.20%

Load structure Chemicals &

Petrochemicals
4.15%
AMFI Classification
Entry Load:Not Applicable Entertainment 4.05%
Exit Load:10% of the units allotted shall be redeemed without any
exit load, on or before completion of 12 months from the date of
allotment of units.
Any redemption in excess of such limit in the first 12 months from
the date of allotment shall be subject to the following exit load,
Redemption of units would be done on First in First out Basis (FIFO):
1% if redeemed or switched out on or before completion of 12
months from the date of allotment of units.
Nil, thereafter.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Multi Cap Fund NIFTY 500 Multicap 50:25:25
This product is suitable for investors who are seeking*:
TRI
Long term capital growth
Investment in equity and equity related securities

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

12 December 2023 Fundamentals

Nippon India Flexi Cap Fund
Flexi Cap Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Automobiles Industrial Products
Maruti Suzuki India Limited 2.02 Finolex Cables Limited 1.40
Type of Scheme Mahindra & Mahindra Limited 1.64 Insurance
Banks SBI Life Insurance Company Limited* 2.28
An open ended dynamic equity scheme investing across large cap, HDFC Bank Limited* 7.46 Leisure Services
mid cap, small cap stocks. ICICI Bank Limited* 4.89 Devyani International Limited 1.33
Axis Bank Limited* 3.95 Personal Products
Current Investment Philosophy State Bank of India 1.63 Godrej Consumer Products Limited 1.03
Beverages Petroleum Products
The fund seeks to provide long term wealth creation by dynamically Varun Beverages Limited* 2.57 Reliance Industries Limited* 3.57
managing the investments across large, mid and small cap stocks Cement & Cement Products Pharmaceuticals & Biotechnology
UltraTech Cement Limited* 2.41 JB Chemicals & Pharmaceuticals Limited 1.46
based on market view and relative attractiveness. Construction Lupin Limited 1.28
Larsen & Toubro Limited* 3.58 Gland Pharma Limited 1.27
Date of Allotment Consumable Fuels Mankind Pharma Limited 1.14
August 13, 2021 Coal India Limited 1.30 Power
Diversified FMCG NTPC Limited 2.14
Fund Manager(s) Hindustan Unilever Limited 1.67 Retailing
ITC Limited 1.61 Electronics Mart India Limited* 3.58
Meenakshi Dawar (Managing Since Jan 2023) Finance Trent Limited 1.25
Total Experience of more than 14 years Power Finance Corporation Limited 1.83 Transport Infrastructure
CreditAccess Grameen Limited 1.40 JSW Infrastructure Ltd 1.31
Dhrumil Shah (Managing Since Aug 2021) IT - Software Equity Less Than 1% of Corpus 29.28
Total Experience of more than 17 years Infosys Limited* 4.34 Cash and Other Receivables 3.03
Nikhil Rungta (Co-Fund Manager) (Managing Since Aug 2021 till Zensar Technologies Limited 1.22
Rategain Travel Technologies Limited 1.14 Grand Total 100.00
Nov 20, 2023) *Top 10 Holdings
Total Experience of more than 15 years

Benchmark SIP - If you invested ₹ 10000 every month

Nifty 500 TRI Since Inception 1 Year
Total Amount Invested (₹) 280,000 120,000
Market Value (₹) 343,523 140,682
Fund Size
Monthly Average: ₹ 5,064.82 Cr Scheme Return (%) 18.29 35.29
Month End: ₹ 5,260.05 Cr B: Nifty 500 TRI Return (%) 15.46 26.46
AB: S&P BSE Sensex TRI Return (%) 11.23 14.70
NAV as on November 30, 2023
Growth Plan ₹ 13.3969 Inception Date: August 13, 2021
IDCW Plan ₹ 13.3969 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Direct - Growth Plan ₹ 13.8711 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Direct - IDCW Plan ₹ 13.8711 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Portfolio Turnover (Times) 0.31 index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Total Expense Ratio^

Regular/Other than Direct 1.82
Direct 0.51 Industry Allocation
Load structure Banks 19.84%
Entry Load:Not Applicable IT - Software 7.64%
Exit Load:10% of the units allotted shall be redeemed without any
Finance 7.00%
exit load, on or before completion of 12 months from the date of
allotment of units. Any redemption in excess of such limit in the first Industrial Products 5.98%

12 months from the date of allotment shall be subject to the Retailing 5.84%
following exit load. Automobiles 5.20%
Redemption of units would be done on First in First out Basis (FIFO): Pharmaceuticals &
5.14%
1% if redeemed or switched out on or before completion of 12 Biotechnology

months from the date of allotment of units. Construction 3.95%

Nil, thereafter. Petroleum Products 3.57%
AMFI Classification
Diversified FMCG 3.28%

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Flexi Cap Fund Nifty 500 TRI
Long term capital growth
Investment in equity and equity related securities

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 13

Nippon India ELSS Tax Saver Fund
ELSS Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Agricultural Food & other Products Cholamandalam Financial Holdings Limited 1.11
Tata Consumer Products Limited 1.08 REC Limited 1.07
Type of Scheme Auto Components Food Products
Samvardhana Motherson International Limited* 2.16 Nestle India Limited 1.39
An open ended equity linked saving scheme with a statutory lock in TVS Holdings Limited 1.39 IT - Software
of 3 years and tax benefit. Automotive Axles Limited 1.04 Infosys Limited* 4.90
Automobiles Industrial Products
Current Investment Philosophy Tata Motors Limited* 2.16 KSB Limited 1.98
Banks Insurance
The fund seeks to maintain balance between large cap companies HDFC Bank Limited* 8.41 ICICI Lombard General Insurance Company Limited 1.70
and mid cap companies. It endeavors to invest in potential leaders. It ICICI Bank Limited* 7.15 Max Financial Services Limited 1.64
Axis Bank Limited* 4.31 SBI Life Insurance Company Limited 1.59
invests in companies with potential of high growth prospects over State Bank of India* 3.46 Leisure Services
medium term (2-3 years). Generally, the fund has two or three sector Beverages The Indian Hotels Company Limited 1.90
calls at a time. They are mostly in-line of emerging market trends. A United Spirits Limited 1.36 Petroleum Products
Radico Khaitan Limited 1.28 Reliance Industries Limited* 2.91
small percentage of portfolio is invested in contrarian calls. Cement & Cement Products Pharmaceuticals & Biotechnology
A significant percent of outstanding equity of the scheme is invested UltraTech Cement Limited 1.58 Sun Pharmaceutical Industries Limited 1.59
in high conviction mid-cap companies. A significant Chemicals & Petrochemicals Gland Pharma Limited 1.49
allocation/exposure is taken in Multinational Companies (MNC’s). It Linde India Limited 1.73 Power
Construction NTPC Limited* 3.24
attempts to have a balanced portfolio on a macro basis, allocating to Larsen & Toubro Limited* 2.79 Tata Power Company Limited 1.23
themes like Domestic, Consumption & Defensive. Consumable Fuels Realty
Coal India Limited 1.57 Macrotech Developers Limited 1.76
Date of Allotment Diversified Retailing
3M India Limited 1.19 Avenue Supermarts Limited 1.39
September 21, 2005 Diversified FMCG Telecom - Services
ITC Limited 1.67 Bharti Airtel Limited 1.55
Fund Manager(s) Entertainment Transport Services
Rupesh Patel (Managing Since Jul 2021) PVR INOX Limited 1.31 InterGlobe Aviation Limited 1.57
Ferrous Metals Equity Less Than 1% of Corpus 16.04
Total Experience of more than 24 years Jindal Steel & Power Limited 1.36 Cash and Other Receivables 1.23
Ashutosh Bhargava (Co - Fund Manager) (Managing Since Jul 2020) Finance
Grand Total 100.00
Total Experience of more than 18 years Power Finance Corporation Limited 1.70
*Top 10 Holdings
Benchmark
Nifty 500 TRI
Fund Size SIP - If you invested ₹ 10000 every month
Monthly Average: ₹ 12,694.45 Cr Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Month End: ₹ 13,073.47 Cr Total Amount Invested (₹) 2,190,000 1,800,000 1,200,000 600,000 360,000 120,000
NAV as on November 30, 2023 Market Value (₹) 8,280,501 5,417,292 2,215,329 940,265 463,700 136,569
Growth Plan ₹ 96.6178 Scheme Return (%) 13.12 13.54 11.84 18.20 17.45 28.00
IDCW Plan ₹ 31.1156 B: Nifty 500 TRI Return (%) 13.35 14.24 14.88 18.52 15.69 26.46
Annual IDCW Plan ₹ 18.8805
AB: S&P BSE Sensex TRI Return (%) 12.76 13.42 13.82 15.51 12.04 14.70
Direct - Growth Plan ₹ 104.8949
Direct - IDCW Plan ₹ 40.1458 Inception Date: September 21, 2005
Direct - Annual IDCW Plan ₹ 20.0797 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Volatility Measures consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Standard Deviation 4.13 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Beta 0.98 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Sharpe Ratio 0.31
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023). Industry Allocation IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Portfolio Turnover (Times) 0.24 Banks 23.33% IDCW Plan
Finance 5.47% 10-Mar-23 0.75 25.5295 24.7795
Total Expense Ratio^ 10-Jan-20 0.18 19.0858 18.8858
Auto Components 5.35% 13-Nov-19 0.18 18.1582 17.9582
Regular/Other than Direct 1.71 Direct - IDCW Plan
Power 5.17%
Direct 1.03 10-Mar-23 0.75 32.5670 31.8170
Insurance 4.93% 10-Jan-20 0.18 23.7499 23.5499
Load structure 13-Nov-19 0.18 22.5239 22.3239
IT - Software 4.90%
Entry Load:Not Applicable Annual IDCW Plan
Industrial Products 4.08% 29-Mar-19 0.80 11.9184 11.0184
Exit Load:Nil
Direct - Annual IDCW Plan
Beverages 3.43%
29-Mar-19 0.80 12.2430 11.3430
Construction 3.34% Past performance may or may not be sustained in future. Pursuant to IDCW
AMFI Classification payment, NAV falls to the extent of payout & statutory levy (if applicable).
Automobiles 3.15% Face Value-₹10.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ELSS Tax Saver Nifty 500 TRI
This product is suitable for investors who are seeking*:
Fund
Long term capital growth
Investment in equity and equity related securities

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

14 December 2023 Fundamentals

Nippon India Banking & Financial Services Fund
Sector Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Type of Scheme Banks SBI Cards and Payment Services Limited* 3.54
An open ended equity scheme investing in Banking & Financial HDFC Bank Limited* 17.18 LIC Housing Finance Limited* 3.07
Services Sector.
ICICI Bank Limited* 12.38 Power Finance Corporation Limited 2.68
Current Investment Philosophy Cholamandalam Financial Holdings Limited 2.32
Axis Bank Limited* 9.84
The fund is a focused banking and financial services sector oriented
fund investing across market caps within the sector. The fund is well State Bank of India* 7.71 CreditAccess Grameen Limited 1.84
diversified across sub segments like Private & Public Banks, NBFCs, IndusInd Bank Limited* 3.72 Bajaj Finserv Limited 1.55
Housing Fin Co’s, Broking houses, Wealth Management, Rating
The Federal Bank Limited* 3.53 Sundaram Finance Limited 1.38
Agencies, Asset Management Companies, Insurance Companies,
Stock/ Commodities Exchange, etc. The fund endeavors to generate Equitas Small Finance Bank Limited 2.61 Insurance
superior alpha through active fund management. The alpha
generation is attempted through tactical allocation across various Kotak Mahindra Bank Limited 2.50 SBI Life Insurance Company Limited* 4.29
sub segments and differentiated investment ideas. The fund thus Canara Bank 2.17 Max Financial Services Limited* 3.18
attempts to lower risk through diversification while retaining the
Bandhan Bank Limited 1.82 ICICI Prudential Life Insurance Company
alpha creation potential. 1.45
Limited
Capital Markets
Date of Allotment Equity Less Than 1% of Corpus 3.47
May 26, 2003 Angel One Limited 2.31
UTI Asset Management Company Limited 2.19 Cash and Other Receivables 2.20
Fund Manager(s)
Vinay Sharma (Managing Since Apr 2018) KFin Technologies Limited 1.08 Grand Total 100.00
Total Experience of more than 19 years
Finance *Top 10 Holdings
Bhavik Dave (Co-Fund Manager) (Managing Since Jun 2021)
Total Experience of more than 11 years
Benchmark SIP - If you invested ₹ 10000 every month
Nifty Financial Services TRI Since Inception 20 Years 15 Years 10 Years 5 Years 3 Years 1 Year
Fund Size Total Amount Invested (₹) 2,470,000 2,400,000 1,800,000 1,200,000 600,000 360,000 120,000
Monthly Average: ₹ 4,716.80 Cr Market Value (₹) 18,929,001 15,986,283 6,138,522 2,541,944 964,859 477,994 135,052
Month End: ₹ 4,845.91 Cr Scheme Return (%) 17.11 16.53 14.99 14.43 19.26 19.65 25.35

NAV as on November 30, 2023 B: Nifty Financial Services TRI Return (%) N.A N.A 15.15 14.18 12.93 9.58 9.70
Growth Plan ₹ 480.0947 AB: S&P BSE Sensex TRI Return (%) 13.95 13.52 13.42 13.82 15.51 12.04 14.70
IDCW Plan ₹ 64.88 Inception Date: May 26, 2003
Bonus Option ₹ 480.0947 N.A: Since TRI data is not available prior to 01/01/2004 for Nifty Financial Services , performance for such period is not provided
Direct - Growth Plan ₹ 517.6554 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Direct - IDCW Plan ₹ 92.1402 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Direct - Bonus Option ₹ 517.6554 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Portfolio Turnover (Times) 0.31 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Total Expense Ratio^

Regular/Other than Direct 1.94
Direct 1.14
Volatility Measures
Load structure
Entry Load:Not Applicable Standard Deviation 5.25 Beta 0.96 Sharpe Ratio 0.27
Exit Load:1% if redeemed or switched out on or before completion of Note: The above measures have been calculated using monthly rolling returns for 36 months period with 6.9% risk free return (FBIL
1 month from the date of allotment of units. Overnight MIBOR as on 30/11/2023).
Nil, thereafter.

IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
IDCW Plan Direct - IDCW Plan
10-Feb-23 4.75 57.7520 53.0020 10-Feb-23 4.75 79.5696 74.8196
11-Feb-22 2.25 54.0292 51.7792 11-Feb-22 2.25 72.9646 70.7146
05-Feb-21 3.25 49.8051 46.5551 05-Feb-21 3.25 65.6624 62.4124

Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹​10.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Banking & Financial Services Nifty Financial Services TRI
This product is suitable for investors who are seeking*:
Fund
Long term capital growth
Investment in equity and equity related securities of companies in
banking and financial services sector

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

Fundamentals December 2023 15

Nippon India Power & Infra Fund
Sector Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Industrial Products
Hindustan Aeronautics Limited 2.35 Cummins India Limited 2.39
Type of Scheme Bharat Electronics Limited 2.16 Carborundum Universal Limited 1.95
Paras Defence and Space Technologies Limited 1.16 Astral Limited 1.61
An Open Ended Equity Scheme investing in power & infrastructure MTAR Technologies Limited 1.12 Petroleum Products
sectors. Auto Components Reliance Industries Limited* 6.66
Bosch Limited* 5.69 Power
Current Investment Philosophy Cement & Cement Products NTPC Limited* 7.32
UltraTech Cement Limited* 4.30 NLC India Limited* 2.81
The fund provides an investment opportunity to participate in India’s Birla Corporation Limited 2.50 Power Grid Corporation of India Limited 2.48
capex growth by investing in securities of companies in power and ACC Limited 1.24 Tata Power Company Limited 2.21
Construction Realty
infra sectors. The portfolio has an adequate diversification within the Larsen & Toubro Limited* 6.55 The Phoenix Mills Limited 1.96
power and infra sectors by spreading investment over a large range Sterling And Wilson Renewable Energy Limited 2.09 Prestige Estates Projects Limited 1.49
of companies. The fund provides opportunity within these sectors, Consumable Fuels Brigade Enterprises Limited 1.47
Coal India Limited* 2.54 Telecom - Services
with focused approach and flexibility to invest in Transportation, Electrical Equipment Bharti Airtel Limited* 4.51
Energy, Resources, Communication and other power and Siemens Limited 2.17 Indus Towers Limited 2.13
infrastructure allied companies. The portfolio is focused on creating Gas Transport Infrastructure
Indraprastha Gas Limited 1.92 JSW Infrastructure Ltd 1.81
long term risk adjusted return. Transport Services
Healthcare Services
Apollo Hospitals Enterprise Limited 1.82 Container Corporation of India Limited* 3.26
Date of Allotment Industrial Manufacturing Equity Less Than 1% of Corpus 6.82
May 08, 2004 Kaynes Technology India Limited* 3.23 Cash and Other Receivables 4.25
Cyient Dlm Ltd 2.35 Grand Total 100.00
Fund Manager(s) Praj Industries Limited 1.70
*Top 10 Holdings
Sanjay Doshi (Managing Since Jan 2017)
Total Experience of more than 19 years
SIP - If you invested ₹ 10000 every month
Benchmark Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Nifty Infrastructure TRI
Total Amount Invested (₹) 2,350,000 1,800,000 1,200,000 600,000 360,000 120,000
Fund Size Market Value (₹) 11,643,245 5,722,857 3,140,289 1,244,802 574,784 151,708
Monthly Average: ₹ 2,877.32 Cr Scheme Return (%) 14.45 14.18 18.37 29.98 33.46 55.41
Month End: ₹ 3,035.65 Cr
B: Nifty Infrastructure TRI Return (%) 9.34 10.64 14.25 22.17 21.55 36.55
NAV as on November 30, 2023 AB: S&P BSE Sensex TRI Return (%) 13.39 13.42 13.82 15.51 12.04 14.70
Growth Plan ₹ 249.3036 Inception Date: May 08, 2004
IDCW Plan ₹ 55.8984 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Bonus Option ₹ 249.3036 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Direct - Growth Plan ₹ 266.2521 consideration.
Direct - IDCW Plan ₹ 62.0178 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Direct - Bonus Option ₹ 266.2521 index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Portfolio Turnover (Times) 0.46

Total Expense Ratio^
Regular/Other than Direct 2.04
Volatility Measures
Direct 1.33
Standard Deviation 4.81 Beta 1.02 Sharpe Ratio 0.45
Load structure
Note: The above measures have been calculated using monthly rolling returns for 36 months period with 6.9% risk free return (FBIL
Entry Load:Not Applicable Overnight MIBOR as on 30/11/2023).
Exit Load:1% if redeemed or switched out on or before completion of
1 month from the date of allotment of units.
Nil, thereafter.

IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
IDCW Plan Direct - IDCW Plan
10-Feb-23 3.25 42.0112 38.7612 10-Feb-23 3.25 46.0418 42.7918
11-Feb-22 1.75 37.5161 35.7661 11-Feb-22 1.75 40.6894 38.9394
14-Feb-20 2.21 27.3613 24.8613 14-Feb-20 2.21 29.1632 26.6632

Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹​10.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Power & Infra Fund Nifty Infrastructure TRI
Long term capital growth
Investment predominantly in equity and equity related securities of
companies engaged in power and infrastructure space.

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

16 December 2023 Fundamentals

Nippon India Pharma Fund
Sector Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Type of Scheme Healthcare Services Ajanta Pharma Limited 3.08

An open ended equity scheme investing in pharma sector. Apollo Hospitals Enterprise Limited* 5.78 Alkem Laboratories Limited 3.06

Current Investment Philosophy Narayana Hrudayalaya Limited* 3.65 Sanofi India Limited 3.06
The fund seeks to invest in pharma sector with focus on important Vijaya Diagnostic Centre Limited 3.25 Mankind Pharma Limited 3.00
segments of the sector viz Domestic Business, International &
CRAMS and include deep value as well as high growth pharma Fortis Healthcare Limited 2.18 Abbott India Limited 2.93
businesses. The fund invests across market capitalization within the Thyrocare Technologies Limited 1.59 GlaxoSmithKline Pharmaceuticals Limited 2.28
sector. It may suit investment horizon of around 2-3 years.
Pharmaceuticals & Biotechnology Torrent Pharmaceuticals Limited 2.07
Date of Allotment Pfizer Limited 1.93
Sun Pharmaceutical Industries Limited* 12.95
June 05, 2004
Lupin Limited* 7.85 Concord Biotech Limited 1.08
Fund Manager(s)
Cipla Limited* 6.06 Indoco Remedies Limited 1.07
Sailesh Raj Bhan (Managing Since Jun 2004)
Total Experience of more than 27 years Dr. Reddy's Laboratories Limited* 5.13 Retailing

Benchmark Gland Pharma Limited* 4.86 MedPlus Health Services Limited* 3.95

S&P BSE Healthcare TRI Divi's Laboratories Limited* 4.58 Equity Less Than 1% of Corpus 3.12

Fund Size Aurobindo Pharma Limited* 4.20 Cash and Other Receivables 0.49
Monthly Average: ₹ 5,939.65 Cr JB Chemicals & Pharmaceuticals Limited 3.48
Month End: ₹ 6,204.41 Cr Grand Total 100.00
Zydus Lifesciences Limited 3.29
NAV as on November 30, 2023 *Top 10 Holdings
Growth Plan ₹ 377.6915
IDCW Plan ₹ 104.8785
SIP - If you invested ₹ 10000 every month
Bonus Option ₹ 377.6915
Direct - Growth Plan ₹ 414.5337 Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Direct - IDCW Plan ₹ 141.5586 Total Amount Invested (₹) 2,340,000 1,800,000 1,200,000 600,000 360,000 120,000
Direct - Bonus Option ₹ 414.5337
Market Value (₹) 19,887,385 7,961,442 2,824,394 1,028,196 469,211 148,643
Scheme Return (%) 19.00 17.97 16.40 21.91 18.30 49.73
Portfolio Turnover (Times) 0.21
B: S&P BSE Healthcare TRI Return (%) N.A 14.64 12.75 19.73 16.65 48.38
Total Expense Ratio^ AB: S&P BSE Sensex TRI Return (%) 13.36 13.42 13.82 15.51 12.04 14.70
Regular/Other than Direct 1.86 Inception Date: June 05, 2004
Direct 0.95 N.A: Since TRI data is not available prior to 23/08/2004 for S&P BSE Healthcare , performance for such period is not provided
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Load structure installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Entry Load:Not Applicable consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Exit Load:1% if redeemed or switched out on or before completion of TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
1 month from the date of allotment of units. index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Nil, thereafter.

Volatility Measures
Standard Deviation 4.56 Beta 0.93 Sharpe Ratio 0.18
Note: The above measures have been calculated using monthly rolling returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).

IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
IDCW Plan Direct - IDCW Plan
25-Feb-22 3.50 81.0706 77.5706 25-Feb-22 3.50 106.5705 103.0705
26-Feb-21 6.00 77.3633 71.3633 26-Feb-21 6.00 98.9310 92.9310
28-Feb-20 3.98 52.8841 48.3841 28-Feb-20 3.98 65.8193 61.3193

Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹​10.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Pharma Fund S&P BSE Healthcare TRI
Long term capital growth
investment predominantly in equity and equity related Securities of pharma &
other associated companies.

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 17

Nippon India Consumption Fund
Thematic Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Agricultural Food & other Products Nestle India Limited 1.63
Tata Consumer Products Limited* 3.75 Healthcare Services
Type of Scheme Marico Limited 2.45 Apollo Hospitals Enterprise Limited 2.14
Automobiles Insurance
An Open Ended Equity Scheme following consumption theme. Maruti Suzuki India Limited* 3.66 ICICI Lombard General Insurance Company Limited 2.13
Hero MotoCorp Limited* 3.60 Leisure Services
Current Investment Philosophy Mahindra & Mahindra Limited 2.77 Sapphire Foods India Limited 2.39
TVS Motor Company Limited 2.74 The Indian Hotels Company Limited 1.63
The fund has a focussed approach to invest in leaders or potential Bajaj Auto Limited 2.15 Westlife Foodworld Limited 1.52
leaders that are likely to benefit directly or indirectly from domestic Banks Personal Products
consumption led demand. It is well diversified across key segments HDFC Bank Limited 1.76 Godrej Consumer Products Limited* 4.49
Beverages Retailing
like Consumer Non-Durables, Media & Entertainment, Automobile, United Breweries Limited* 3.74 Avenue Supermarts Limited* 5.05
Healthcare Services, Pharmaceuticals, etc., driven by relative United Spirits Limited 2.42 Zomato Limited* 3.18
attractiveness of opportunities and valuations. The fund has a flexi Cigarettes & Tobacco Products Trent Limited 2.58
VST Industries Limited 1.76 Aditya Birla Fashion and Retail Limited 2.14
cap structure, allowing it to participate across market caps. Strong Consumer Durables Electronics Mart India Limited 1.15
business model that allows for good ROE generation will be the Havells India Limited 2.85 Telecom - Services
primary basis for investment. Businesses with focus on sustainable Kajaria Ceramics Limited 2.71 Bharti Airtel Limited* 7.60
Kansai Nerolac Paints Limited 2.40 Textiles & Apparels
profitable growth will be the core components of the investment Voltas Limited 2.26 Page Industries Limited 1.63
universe. Sheela Foam Limited 1.01 Corporate Bond 0.01
Diversified FMCG Britannia Industries Limited 0.01
Date of Allotment ITC Limited* 7.37 Equity Less Than 1% of Corpus 0.93
Hindustan Unilever Limited* 6.42
September 30, 2004 Entertainment
Cash and Other Receivables 2.28
PVR INOX Limited 1.70 Grand Total 100.00
Fund Manager(s) Food Products *Top 10 Holdings
Amar Kalkundrikar (Managing Since Oct 2020)
Total Experience of more than 20 years
SIP - If you invested ₹ 10000 every month
Benchmark Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Nifty India Consumption TRI
Total Amount Invested (₹) 2,310,000 1,800,000 1,200,000 600,000 360,000 120,000
Fund Size Market Value (₹) 10,894,268 6,392,402 2,782,999 1,067,564 490,995 138,450
Monthly Average: ₹ 573.69 Cr Scheme Return (%) 14.30 15.46 16.12 23.48 21.60 31.32
Month End: ₹ 594.43 Cr
B: Nifty India Consumption TRI Return (%) N.A N.A 14.47 17.91 17.49 29.41
NAV as on November 30, 2023 AB: S&P BSE Sensex TRI Return (%) 13.19 13.42 13.82 15.51 12.04 14.70
Growth Plan ₹ 155.6673 Inception Date: September 30, 2004
IDCW Plan ₹ 35.6803 N.A: Since TRI data is not available prior to 14/02/2012 for Nifty India Consumption , performance for such period is not provided
Bonus Option ₹ 155.6673 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Direct - Growth Plan ₹ 171.0684 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Direct - IDCW Plan ₹ 51.3354 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Direct - Bonus Option ₹ 171.0684 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Portfolio Turnover (Times) 0.45
Total Expense Ratio^
Regular/Other than Direct 2.43
Direct 1.20 Volatility Measures
Load structure Standard Deviation 3.85 Beta 0.80 Sharpe Ratio 0.38
Entry Load:Not Applicable Note: The above measures have been calculated using monthly rolling returns for 36 months period with 6.9% risk free return (FBIL
Exit Load:1% if redeemed or switched out on or before completion of Overnight MIBOR as on 30/11/2023).
1 month from the date of allotment of units.
Nil, thereafter.

IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
IDCW Plan Direct - IDCW Plan
20-Jan-23 2.50 31.0141 28.5141 20-Jan-23 2.50 43.1453 40.6453
28-Jan-22 1.25 29.2166 27.9666 28-Jan-22 1.25 39.6677 38.4177
24-Jan-20 1.33 19.9981 18.4981 24-Jan-20 1.33 26.1448 24.6448

Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹​10.

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Consumption Fund Nifty India Consumption TRI
Long term capital growth
Investment predominantly in equity, equity related securities of companies
that are likely to benefit directly or indirectly from domestic consumption led
demand.

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the
product is suitable for them.
page

18 December 2023 Fundamentals

Nippon India Japan Equity Fund
Thematic (International) Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Apparel Retail Homefurnishing Retail
Fast Retailing Co Ltd* 3.49 Nitori Holdings Co Ltd 3.17
Type of Scheme Automobile Manufacturers Human Resource & Employment Services
Toyota Motor Corp 3.30 Recruit Holdings Co Ltd* 3.48
An open ended equity scheme following Japan focused theme. Automotive Parts & Equipment Industrial Conglomerates
DENSO CORP 2.98 Hitachi Ltd* 3.39
Current Investment Philosophy Brewers Industrial Machinery & Supplies & Components
The fund endeavors to create a portfolio of companies which are Asahi Group Holdings Ltd 3.00 SMC Corp* 3.46
Building Products Integrated Telecommunication Services
leaders or potential leaders in the growth oriented sectors of Japan Daikin Industries Ltd 2.83 NTT Corp 3.17
and are listed on recognized stock exchanges of Japan, using a blend Commodity Chemicals Life & Health Insurance
of top down and bottom up approach without any extreme sector Toray Industries Inc 3.03 Dai-ichi Life Holdings Inc 3.20
Construction & Engineering Packaged Foods & Meats
bias. Exeo Group Inc 3.21 Ajinomoto Co Inc 2.94
Construction Machinery & Heavy Transportation Equipment Personal Care Products
Date of Allotment Komatsu Ltd 2.75 Kao Corporation 3.25
August 26, 2014 Consumer Electronics Property & Casualty Insurance
Sony Group Corporation 3.30 Tokio Marine Holdings Inc* 3.34
Fund Manager(s) Diversified Banks Research & Consulting Services
Mitsubishi UFJ Financial Group Inc 3.05 BayCurrent Consulting Inc 3.16
Kinjal Desai (Managing Since May 2018) Diversified Real Estate Activities Semiconductor Materials & Equipment
Total Experience of more than 10 years Mitsui Fudosan Co* 3.34 Tokyo Electron Ltd* 3.72
Daiwa House Industry 3.31 Specialty Chemicals
Akshay Sharma (Managing Since Dec 2022) Electrical Components & Equipment Shin Etsu Chemical Co* 3.63
Total Experience of more than 7 years Nidec Corporation 2.45 Trading Companies & Distributors
Electronic Components Mitsubishi Corp 2.95
Benchmark TDK Corp* 4.09 Transaction & Payment Processing Services
Electronic Equipment & Instruments Gmo Payment Gateway Inc 3.26
S&P Japan 500 TRI
Keyence Corp* 3.56 Cash and Other Receivables 3.18
Homebuilding
Fund Size Sekisui Chemical Co Ltd 3.01
Grand Total 100.00
*Top 10 Holdings
Monthly Average: ₹ 284.73 Cr
Month End: ₹ 292.62 Cr
NAV as on November 30, 2023
Growth Plan ₹ 16.5352 SIP - If you invested ₹ 10000 every month
IDCW Plan ₹ 16.5352 Since Inception 5 Years 3 Years 1 Year
Bonus Option ₹ 16.5352 Total Amount Invested (₹) 1,120,000 600,000 360,000 120,000
Direct - Growth Plan ₹ 18.1067
Market Value (₹) 1,468,219 678,491 379,073 128,020
Direct - IDCW Plan ₹ 18.1067
Direct - Bonus Option ₹ 18.1067 Scheme Return (%) 5.70 4.91 3.44 13.28
B: S&P Japan 500 TRI Return (%) 8.93 9.05 8.40 17.24
Volatility Measures
AB: S&P BSE Sensex TRI Return (%) 13.92 15.51 12.05 14.70
Standard Deviation 4.27
Beta 1.00 Inception Date: August 26, 2014
Sharpe Ratio -0.10 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Note: The above measures have been calculated using monthly rolling out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
returns for 36 months period with 6.9% risk free return (FBIL B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Overnight MIBOR as on 30/11/2023). TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Portfolio Turnover (Times) 0.31

Total Expense Ratio^

Regular/Other than Direct 2.47 Industry Allocation
Direct 1.32 Diversified Real
6.65%
Estate Activities
Load structure Electronic
4.09%
Components
Entry Load:Not Applicable Semiconductor
Materials & 3.72%
Exit Load:1% if redeemed or switched out on or before completion of Equipment

1 year from the date of allotment of units. Specialty Chemicals 3.63%

Nil, thereafter. Electronic

Equipment & 3.56%
Instruments
Apparel Retail 3.49%

Human Resource &

3.48%
Employment Services
Industrial GICS Sub-Industry Classification.
Machinery &
3.46%
Supplies &
Components
Industrial
3.39%
Conglomerates
Property & Casualty
3.34%
Insurance

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Japan Equity Fund S&P Japan 500 TRI
Long term capital growth
Investment in equity and equity related securities of companies listed on
recognized stock exchange of Japan

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 19

Nippon India US Equity Opportunities Fund
Thematic (International) Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Application Software Iqvia Holdings* 6.23
Type of Scheme Adobe Inc 4.18 Managed Health Care
An open ended equity scheme following US focused theme. Salesforce Inc 1.71 Elevance Health Inc* 4.57
AUTODESK INC COM 1.14 Unitedhealth Group Inc 2.83
Current Investment Philosophy
Automotive Retail Movies & Entertainment
The fund endeavours to invest in a portfolio of high quality stocks
Carmax Inc 2.57 The Walt Disney Company 2.65
listed on recognized stock exchanges of US. The investment strategy
of the fund would be powered by the research support of MIA Broadline Retail Semiconductors
(Morningstar Investment Adviser India Private Limited , a group Amazon Com Inc* 6.25 Taiwan Semiconductor Manufacturing Co Ltd 3.92
company of Morningstar Inc.). Morningstar employs their proprietary Health Care Distributors QUALCOMM INC 2.86
research methodology, focused on economic moats, to identify Cencora Inc 3.28 Specialty Chemicals
investment opportunity. The fund proposes to follow the Hare Health Care Technology Ecolab Inc 1.34
Strategy for its investments. The Hare portfolio invests in stocks of VEEVA SYSTEMS INC 1.37 Systems Software
firms that are experiencing rapid growth, emphasizing those that Hotels, Resorts & Cruise Lines Microsoft Corp* 9.23
possess sustainable competitive advantages. Booking Holdings Inc* 5.85 Transaction & Payment Processing Services
Companies in this strategy tend to grow faster with both higher risk Industrial Gases Mastercard Incorporated* 5.79
and higher return potential. The investment philosophy would be a
Air Products & Chemicals Inc 2.64 Visa Inc* 4.36
blend of top down and bottom up approach without any sector or
Interactive Media & Services Fidelity National Information Services I 2.62
market capitalization bias.
Alphabet Inc A* 7.29 FISERV INC COM 1.97
Date of Allotment Meta Platforms Registered Shares A* 5.14 Equity Less Than 1% of Corpus 0.90
July 23, 2015 Baidu Inc Spon ADR 0.03 Cash and Other Receivables 4.24
Investment Banking & Brokerage Grand Total 100.00
Fund Manager(s)
Charles Schwab Corp* 5.03
Kinjal Desai (Managing Since May 2018) *Top 10 Holdings
Life Sciences Tools & Services
Total Experience of more than 10 years
Akshay Sharma (Managing Since Dec 2022)
Total Experience of more than 7 years
SIP - If you invested ₹ 10000 every month
Benchmark Since Inception 5 Years 3 Years 1 Year
S&P 500 TRI
Total Amount Invested (₹) 1,010,000 600,000 360,000 120,000
Fund Size Market Value (₹) 1,790,582 799,633 411,811 135,909
Monthly Average: ₹ 600.92 Cr Scheme Return (%) 13.29 11.55 9.09 26.85
Month End: ₹ 615.95 Cr
B: S&P 500 TRI Return (%) 16.14 15.75 12.80 21.76
NAV as on November 30, 2023 AB: S&P BSE Sensex TRI Return (%) 14.53 15.51 12.04 14.70
Growth Plan ₹ 26.8207 Inception Date: July 23, 2015
IDCW Plan ₹ 26.8207 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Direct - Growth Plan ₹ 29.3863 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Direct - IDCW Plan ₹ 29.3863 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Volatility Measures index stocks, thereby showing a true picture of returns.
Standard Deviation 4.91 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Beta 0.97
Sharpe Ratio 0.05
Industry Allocation
Note: The above measures have been calculated using monthly rolling
Transaction &
returns for 36 months period with 6.9% risk free return (FBIL Payment Processing 14.75%
Services
Overnight MIBOR as on 30/11/2023). Interactive Media &
12.46%
Services

Portfolio Turnover (Times) 0.20 Systems Software 9.23%

Total Expense Ratio^ Managed Health Care 7.41%

Application
Regular/Other than Direct 2.41 Software
7.02%

Direct 1.29 Semiconductors 6.78%

Load structure Broadline Retail 6.25%

GICS Sub-Industry Classification.
Entry Load:Not Applicable Life Sciences Tools
6.23%
& Services
Exit Load:1% if redeemed or switched out on or before completion of Hotels, Resorts &
5.85%
1 month from the date of allotment of units. Cruise Lines

Nil Investment Banking

& Brokerage
5.03%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India US Equity Opportunities S&P 500 TRI
This product is suitable for investors who are seeking*:
Fund
Long term capital growth
Investment in equity and equity related securities of companies listed
on recognized stock exchanges in the US.

*Investors should consult their financial advisors if in doubt about whether

Please refer page no. 119 for explanation on various symbols mentioned on the the product is suitable for them.
page

20 December 2023 Fundamentals

Nippon India Taiwan Equity Fund
Thematic (International) Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Apparel, Accessories and Luxury Goods Gudeng Precision Industrial Co Ltd 1.33
Type of Scheme Makalot Industrial Co Ltd 1.81 Semiconductors
An open ended equity scheme following Taiwan focused theme. Automobile Manufacturers Taiwan Semiconductor Manufacturing Co Ltd* 5.70
China Motor Corporation 1.50 eMemory Technology Inc* 5.53
Current Investment Philosophy
Commodity Chemicals Alchip Technologies Limited* 4.59
The fund seeks to provide an attractive diversification opportunity by
Jinan Acetate Chemical Co Limited 2.58 Jentech Precision Industrial Co Ltd 3.14
investing in a high conviction portfolio of stocks of companies listed
on recognized stock exchanges of Taiwan. The fund endeavors to Communications Equipment Faraday Technology Corp 2.57
identify industry leaders with a long term horizon and will follow a Accton Technology Corporation* 5.05 Realtek Semiconductor Corporation 2.14
bottom up investment approach layered with flexible cash position to Electronic Components Fitipower Integrated Technology Inc 1.86
minimize draw down. Elite Material Co Ltd* 5.57 Richwave Technlogy Corporation 1.13
Gold Circuit Electronics Ltd* 4.67 Technology Hardware, Storage & Peripherals
Date of Allotment Lotes Co Ltd 3.50 Quanta Computer Inc.* 6.52
December 11, 2021 Taiwan Union Technology Corp 2.77 Asia Vital Components Co Ltd* 4.61
Fund Manager(s) Tripod Technology Corporation 2.40 Wiwynn Corporation* 3.94
Kinjal Desai (Managing Since Dec 2021) LARGAN Precision Co Limited 1.78 AURAS Technology Co Ltd* 3.53
Total Experience of more than 10 years Genius Electronic Optical Co Ltd 1.57 Wistron Corporation 2.45
Akshay Sharma (Managing Since Dec 2022) Electronic Equipment & Instruments King Slide Works Co Ltd 1.83
Total Experience of more than 7 years All Ring Tech Co Ltd 1.72 Equity Less Than 1% of Corpus 0.24
Semiconductor Materials & Equipment Cash and Other Receivables 8.89
Benchmark
WinWay Technology Co. Ltd 2.95 Grand Total 100.00
Taiwan Capitalization Weighted Stock Index (TAIEX) TRI
Mpi Corporation 2.13 *Top 10 Holdings
Fund Size
Monthly Average: ₹ 505.86 Cr
Month End: ₹ 514.67 Cr SIP - If you invested ₹ 10000 every month
NAV as on November 30, 2023 Since Inception 1 Year
Growth Plan ₹ 9.2210 Total Amount Invested (₹) 240,000 120,000
IDCW Plan ₹ 9.2210 Market Value (₹) 281,216 138,614
Direct - Growth Plan ₹ 9.5057
Scheme Return (%) 16.49 31.62
Direct - IDCW Plan ₹ 9.5057
B: Taiwan Capitalization Weighted Stock Index (TAIEX) TRI Return (%) 14.63 23.87
Portfolio Turnover (Times) 1.74 AB: S&P BSE Sensex TRI Return (%) 12.66 14.60

Total Expense Ratio^ Inception Date: December 11, 2021

Regular/Other than Direct 2.41 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Direct 0.99 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Load structure TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Entry Load:Not Applicable For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Exit Load:1% if redeemed or switched out on or before completion of
3 months from the date of allotment of units.
Nil, thereafter Industry Allocation
Semiconductors 26.67%
Technology
Hardware, Storage & 22.92%
Peripherals
Electronic
22.25%
Components
Semiconductor
Materials & 6.42%
Equipment
Communications
5.05%
Equipment

Commodity Chemicals 2.58%

Apparel,
Accessories and 1.81%
Luxury Goods GICS Sub-Industry Classification.
Electronic
Equipment & 1.72%
Instruments
Automobile
1.50%
Manufacturers
Electrical
Components & 0.20%
Equipment

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Taiwan Equity Fund Taiwan Capitalization Weighted Stock Index
This product is suitable for investors who are seeking*:
(TAIEX) TRI
Long term capital growth
Investment in equity and equity related securities of companies
listed on recognized stock exchange of Taiwan

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

Fundamentals December 2023 21

Nippon India Innovation Fund
Thematic Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Bajaj Finserv Limited* 4.14
Bharat Dynamics Limited 2.44 Bajaj Finance Limited 2.19
Type of Scheme Agricultural Food & other Products Financial Technology (Fintech)
Tata Consumer Products Limited 1.81 PB Fintech Limited* 3.36
An open ended equity scheme investing in innovation theme Auto Components One 97 Communications Limited 1.60
Samvardhana Motherson International Limited* 4.26 Healthcare Services
Current Investment Philosophy Bosch Limited* 3.30 Apollo Hospitals Enterprise Limited* 3.62
Motherson Sumi Wiring India Limited 2.73 IT - Services
The Fund seeks to provide long term capital appreciation to investors Automobiles Affle (India) Limited* 3.14
by primarily investing in equities of companies seeking to benefit Hero MotoCorp Limited 2.67 Industrial Manufacturing
from innovation. The fund will follow a high conviction approach and Tata Motors Limited 2.63 Honeywell Automation India Limited 2.85
TVS Motor Company Limited 2.61 Industrial Products
focus on high quality-high growth businesses driving transformation Banks Timken India Limited 1.78
across sectors. ICICI Bank Limited 2.40 Kirloskar Oil Engines Limited 1.11
HDFC Bank Limited 2.18 Insurance
Date of Allotment Axis Bank Limited 2.15 ICICI Lombard General Insurance Company Limited 2.22
Kotak Mahindra Bank Limited 2.13 Leisure Services
August 28, 2023 State Bank of India 2.11 Restaurant Brands Asia Limited 2.25
Beverages Sapphire Foods India Limited 1.96
Fund Manager(s) United Breweries Limited* 3.26 Retailing
Vinay Sharma (Managing Since Aug 2023) Diversified Info Edge (India) Limited* 6.97
3M India Limited* 3.04 FSN E-Commerce Ventures Limited* 4.84
Total Experience of more than 19 years Diversified FMCG Avenue Supermarts Limited 2.31
Hindustan Unilever Limited 1.78 Zomato Limited 1.93
Benchmark Electrical Equipment Equity Less Than 1% of Corpus 0.96
Nifty 500 TRI Siemens Limited 2.05 Cash and Other Receivables 7.21
Fertilizers & Agrochemicals
Grand Total 100.00
Fund Size Bayer Cropscience Limited 2.00
Finance *Top 10 Holdings
Monthly Average: ₹ 1,028.51 Cr
Month End: ₹ 1,072.41 Cr Since the fund has not completed six months, the scheme performance has not been provided.

NAV as on November 30, 2023

Industry Allocation
Growth Plan ₹ 10.6779
IDCW Plan ₹ 10.6779 Retailing 16.05%
Direct - Growth Plan ₹ 10.7155
Banks 10.97%
Direct - IDCW Plan ₹ 10.7155
Auto Components 10.29%

Total Expense Ratio^ Automobiles 7.91%

Regular/Other than Direct 2.20 Finance 6.33%

Direct 0.85 Financial
Technology 4.97%
(Fintech)
Load structure Leisure Services 4.22%
Entry Load:Not Applicable AMFI Classification

Healthcare Services 3.62%

Exit Load:1% if redeemed or switched out on or before completion of
1 year from the date of allotment of units. Nil, thereafter Beverages 3.26%

IT - Services 3.14%

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Innovation Fund Nifty 500 TRI
Long term capital growth
Investment in equity and equity related securities of companies adopting
innovation theme

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

22 December 2023 Fundamentals

Nippon India Overnight Fund
Overnight Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme CORPORATE BOND REPO 3.51

An open-ended debt scheme investing in overnight securities. Relatively Low
Amc Repo Clearing Limited 3.51
Interest Rate Risk and Relatively Low Credit Risk.
Treasury Bill 4.38
Current Investment Philosophy
The fund endeavours to provide investors with income commensurate with Government of India SOV 4.38
relatively low risk along with higher liquidity by investing in debt and money
market instruments maturing on or before next business day. It is suitable for Government Bond Strips 0.07
investors with an investment horizon of 1 day to 7 days.
Government of India 0.07
Date of Allotment
Tri-Party Repo & Cash & Other Receivables 92.04
December 18, 2018

Fund Manager(s) Grand Total 100.00

Anju Chhajer (Managing Since Dec 2018)
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Total Experience of more than 27 years
Siddharth Deb (Managing Since Mar 2022)
Total Experience of more than 16 years Rating Profile Asset Allocation

Benchmark
CRISIL Liquid Overnight Index
Cash & Other Receivables : 92.04%
AAA/SOV/A1+/Cash & Other Treasury Bill : 4.38%
Fund Size Receivables : 96.49% CORPORATE BOND REPO : 3.51%
Unrated : 3.51% Government Bond Strips : 0.07%
Monthly Average: ₹ 8,858.60 Cr.
Month End: ₹ 8,533.60 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 125.1496
Daily IDCW Plan ₹ 100.0050
Weekly IDCW Plan ₹ 100.1145
Monthly IDCW Plan ₹ 100.1490 IDCW History
Quarterly IDCW Plan ₹ 101.5550 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Direct - Growth Plan ₹ 125.7493 Monthly IDCW Plan Quarterly IDCW Plan
Direct - Daily IDCW Plan ₹ 100.0050
28-Nov-23 0.6193 100.7319 100.1126 21-Sep-23 1.7270 102.0023 100.2753
Direct - Weekly IDCW Plan ₹ 100.1160
25-Oct-23 0.5449 100.6575 100.1126 15-Jun-23 1.6251 101.8930 100.2679
Direct - Monthly IDCW Plan ₹ 100.1584
25-Sep-23 0.5553 100.6679 100.1126 16-Mar-23 1.4798 101.7489 100.2691
Direct - Quarterly IDCW Plan ₹ 101.5744
Direct - Monthly IDCW Plan Direct - Quarterly IDCW Plan
Average Maturity 2 Days 28-Nov-23 0.6278 100.7493 100.1215 21-Sep-23 1.7523 102.0295 100.2772
Modified Duration 1 Day 25-Oct-23 0.5524 100.6739 100.1215 15-Jun-23 1.6502 101.9199 100.2697
Annualized portfolio YTM* 25-Sep-23 0.5630 100.6845 100.1215 16-Mar-23 1.5017 101.7726 100.2709
6.84%
Macaulay Duration 1 Day Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹100.
*In case of semi annual YTM, it has been
annualised.

Total Expense Ratio^

Regular/Other than Direct 0.17%
Direct 0.08%

Load structure
Entry Load: Not Applicable
Exit Load: Nil

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
A-I
(Class I)
Moderate
(Class II)
Relatively High
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Overnight Fund CRISIL Liquid Overnight Index
Income over short term
Investment in Debt & Money Market Instruments with overnight maturity

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 23

Nippon India Liquid Fund
Liquid Fund Portfolio as on November 30, 2023
Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Details as on November 30, 2023 CORPORATE BOND REPO 1.22 Cholamandalam Investment and Finance CRISIL A1+ 0.90
Reliance Industries Limited 1.22 Company Ltd
Type of Scheme Certificate of Deposit 26.45 ICICI Securities Limited CRISIL A1+ 0.81
Bank of Baroda FITCH A1+ 5.72 Piramal Capital & Housing Finance Limited CRISIL A1+ 0.81
An Open Ended Liquid Scheme. Relatively Low interest rate risk and moderate HDFC Bank Limited CARE 5.00 360 One WAM Limited CARE 0.81
Credit Risk. A1+/FITCH A1+ A1+/ICRA
IDFC First Bank Limited CRISIL A1+ 3.60 A1+
Current Investment Philosophy Union Bank of India FITCH A1+/ICRA 3.60 360 One Prime Limited CRISIL 0.81
A1+ A1+/ICRA
The fund focuses on reasonable carry with a view to maximize returns while A1+
ensuring adequate liquidity through investments in various money market and Axis Bank Limited CRISIL A1+ 2.72
Indian Bank CRISIL A1+ 2.11 HSBC InvestDirect Financial Services (India) CRISIL A1+ 0.66
debt instruments with maturity up to 91 days. The endeavor will be to Punjab National Bank CRISIL A1+ 2.00 Limited
maintain average maturity of the portfolio in the range of 40 - 70 days under Canara Bank CRISIL A1+ 1.50 JM Financial Products Limited ICRA A1+ 0.61
normal market conditions. Kotak Mahindra Bank Limited CRISIL A1+ 0.20 SBICAP Securities Limited ICRA A1+ 0.61
Commercial Paper 47.03 Network18 Media & Investments Limited FITCH A1+ 0.50
Date of Allotment Small Industries Dev Bank of India CRISIL 6.47 Sharekhan BNP Paribas Financial Services ICRA A1+ 0.40
A1+/CARE A1+ Limited
December 09, 2003 Deutsche Investments India Pvt Limited CRISIL A1+ 0.40
National Bank For Agriculture and Rural CRISIL A1+ 5.53
Development Barclays Investments & Loans (India) Private CRISIL A1+ 0.40
Fund Manager(s) Tata Capital Housing Finance Limited CRISIL A1+/ICRA 4.42 Limited
Anju Chhajer (Managing Since Oct 2013) A1+ Axis Securities Limited ICRA A1+ 0.40
Total Experience of more than 27 years HDFC Securities Limited ICRA A1+ 3.20 Tata Capital Financial Services Limited CRISIL A1+ 0.40
Poonawalla Fincorp Limited CARE A1+ 2.41 Bajaj Financial Securities Limited CRISIL A1+ 0.40
Siddharth Deb (Managing Since Mar 2022) Aditya Birla Money Limited CRISIL A1+ 0.40
Total Experience of more than 16 years Larsen & Toubro Limited CRISIL A1+ 2.00
LIC Housing Finance Limited ICRA A1+ 1.72 Corporate Bond 0.40
Bajaj Finance Limited CRISIL A1+ 1.61 LIC Housing Finance Limited CARE AAA 0.40
Benchmark Godrej Industries Limited ICRA A1+/CRISIL 1.50 Government Bond 1.60
NIFTY Liquid Index B-I A1+ Government of India SOV 1.60
JM Financial Services Limited CRISIL A1+/ICRA 1.41 Treasury Bill 17.09
Fund Size A1+ Government of India SOV 17.09
PNB Housing Finance Limited CARE A1+ 1.40 Government Bond Strips 0.43
Monthly Average: ₹ 25,990.59 Cr. IIFL Finance Limited CRISIL A1+ 1.01 Government of India SOV 0.43
Month End: ₹ 24,632.11 Cr. Manappuram Finance Limited CRISIL A1+ 1.01 Corporate Debt Market Development Fund 0.26
Export Import Bank of India CRISIL A1+ 1.01 Corporate Debt Market Development Fund 0.26
NAV as on November 30, 2023 UltraTech Cement Limited CRISIL A1+ 1.01 Class A2
Growth Plan ₹ 5,702.8614 Aditya Birla Finance Limited ICRA A1+ 1.00
Cash & Other Receivables 5.52
Daily IDCW Plan ₹ 1,528.7400 Reliance Retail Ventures Limited CRISIL A1+ 1.00
Grand Total 100.00
Weekly IDCW Plan ₹ 1,532.0007
Monthly IDCW Plan ₹ 1,584.3971 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Quarterly IDCW Plan ₹ 1,015.5392
Direct - Growth Plan ₹ 5,764.4117 Rating Profile Asset Allocation
Direct - Daily IDCW Plan ₹ 1,528.7400
Direct - Weekly IDCW Plan ₹ 1,532.0351 Commercial Paper : 47.03%
Direct - Monthly IDCW Plan ₹ 1,587.7115 Certificate of Deposit : 26.45%
Treasury Bill : 17.09%
Direct - Quarterly IDCW Plan ₹ 1,017.5483 Cash & Other Receivables : 5.52%
Retail - Growth Plan ₹ 5,095.9280 AAA/SOV/A1+/Cash & Other Government Bond : 1.60%
Retail - Daily IDCW Plan ₹ 1,524.2800 Receivables : 98.52% CORPORATE BOND REPO : 1.22%
Unrated : 1.48% Government Bond Strips : 0.43%
Retail - Weekly IDCW Plan ₹ 1,035.2120 Corporate Bond : 0.40%
Retail - Monthly IDCW Plan ₹ 1,326.8912 Corporate Debt Market
Retail - Quarterly IDCW Plan ₹ 1,228.3415 Development Fund : 0.26%

Average Maturity 50 Days

Modified Duration 46 Days
Annualized portfolio YTM* 7.39% IDCW History
Macaulay Duration 50 Days Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
*In case of semi annual YTM, it has been Monthly IDCW Plan Quarterly IDCW Plan
annualised. 28-Nov-23 10.0739 1593.8997 1583.8258 21-Sep-23 17.8550 1020.3874 1002.5324
25-Oct-23 8.6916 1592.5174 1583.8258 15-Jun-23 17.8671 1020.3069 1002.4398
Total Expense Ratio^ 25-Sep-23 8.9938 1592.8196 1583.8258 16-Mar-23 15.2896 1017.8674 1002.5778
Regular/Other than Direct 0.34% Retail - Monthly IDCW Plan Retail - Quarterly IDCW Plan
Direct 0.20% 28-Nov-23 7.6924 1334.1505 1326.4581 21-Sep-23 19.6436 1233.6443 1214.0007
25-Oct-23 6.6222 1333.0803 1326.4581 15-Jun-23 19.7957 1233.6878 1213.8921
Load structure 25-Sep-23 6.8545 1333.3126 1326.4581 16-Mar-23 16.7593 1230.8208 1214.0615
Entry Load: Not Applicable Direct - Monthly IDCW Plan Direct - Quarterly IDCW Plan
28-Nov-23 10.3014 1597.4296 1587.1282 21-Sep-23 18.2691 1022.5159 1004.2468
Investor exit upon subscription Exit Load as % of redemption
/ switchout amount (including 25-Oct-23 8.8922 1596.0204 1587.1282 15-Jun-23 18.2546 1022.4083 1004.1537
systematic transactions) 25-Sep-23 9.2073 1596.3355 1587.1282 16-Mar-23 15.6571 1019.9487 1004.2916
Up to Day 1 0.0070% Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Day 2 0.0065% Value- ₹1000.
Day 3 0.0060%
Day 4 0.0055%
Day 5 0.0050%
Day 6 0.0045%
Day 7 Onwards 0.0000%

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
B-I
(Class I)
Moderate
(Class II)
Relatively High Product Label Fund Riskometer Benchmark Riskometer
(Class III)
This product is suitable for investors who are seeking*: Nippon India Liquid Fund NIFTY Liquid Index B-I
Income over short term
Investment in debt and money market instruments

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

24 December 2023 Fundamentals

Nippon India Money Market Fund
Money Market Fund Portfolio as on November 30, 2023
Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Details as on November 30, 2023 Certificate of Deposit 49.50 Shriram Finance Limited CRISIL A1+ 1.01
Axis Bank Limited CRISIL A1+ 7.34 HSBC InvestDirect Financial Services (India) CRISIL A1+ 0.89
Type of Scheme National Bank For Agriculture and Rural FITCH 5.07 Limited
Development A1+/CRISIL A1+ Hero Fincorp Limited CRISIL A1+ 0.82
An open ended debt scheme investing in money market instruments. HDFC Bank Limited CARE 4.41 Bahadur Chand Investments Pvt Limited (HeroICRA A1+ 0.82
Relatively Low interest rate risk and moderate Credit Risk. A1+/CRISIL A1+ Group)
Punjab National Bank ICRA A1+/CARE 4.08 JM Financial Services Limited ICRA A1+ 0.81
Current Investment Philosophy A1+ Mahindra & Mahindra Financial Services CRISIL A1+ 0.81
Union Bank of India FITCH A1+ 4.06 Limited
The fund would invest in money market instruments like Certificate of Standard Chartered Capital Limited CRISIL A1+ 0.80
The Federal Bank Limited CRISIL A1+ 3.94
Deposits (CD), Commercial Papers (CP), etc. The portfolio duration would be ICICI Bank Limited ICRA A1+ 3.91 Seil Energy India Limited ICRA A1+ 0.79
maintained between 110 - 160 days. Kotak Mahindra Bank Limited CRISIL A1+ 3.62 Barclays Investments & Loans (India) Private ICRA A1+ 0.76
Canara Bank CRISIL A1+ 3.47 Limited
Date of Allotment State Bank of India FITCH 2.81 LIC Housing Finance Limited ICRA 0.61
June 16, 2005 A1+/CARE A1+ A1+/CRISIL
IndusInd Bank Limited CRISIL A1+ 2.59 A1+
Small Industries Dev Bank of India CARE A1+ 1.99 Small Industries Dev Bank of India CRISIL A1+ 0.41
Fund Manager(s) AU Small Finance Bank Limited FITCH 1.38 Motilal Oswal Finvest Limited CRISIL A1+ 0.40
Anju Chhajer (Managing Since Feb 2020) A1+/CRISIL A1+ Pilani Investment and Industries Corporation CRISIL A1+ 0.40
Total Experience of more than 27 years Indian Bank CRISIL A1+ 0.81 Limited
Commercial Paper 33.65 Cholamandalam Investment and Finance CRISIL A1+ 0.40
Benchmark Birla Group Holdings Private Limited CRISIL A1+ 2.62 Company Ltd
ONGC Petro Additions Limited CRISIL A1+ 2.44 Government Bond 1.28
CRISIL Money Market B-I Index REC Limited CRISIL A1+ 2.44 Government of India SOV 1.28
HDFC Bank Limited CRISIL A1+/ICRA 2.44 State Government Bond 1.32
Fund Size A1+ State Government Securities SOV 1.32
Monthly Average: ₹ 12,091.34 Cr. Piramal Capital & Housing Finance Limited CARE 2.22 Treasury Bill 11.16
Month End: ₹ 12,072.43 Cr. A1+/CRISIL A1+ Government of India SOV 11.16
PNB Housing Finance Limited CRISIL A1+ 2.03 Government Bond Strips 1.12
ICICI Securities Limited CRISIL A1+ 2.02
NAV as on November 30, 2023 Deutsche Investments India Pvt Limited ICRA A1+/CRISIL 1.99
Government of India SOV 1.12
Corporate Debt Market Development Fund 0.21
Growth Plan ₹ 3,682.3917 A1+ Corporate Debt Market Development Fund 0.21
Daily IDCW Plan ₹ 1,003.9029 Export Import Bank of India CRISIL A1+ 1.62 Class A2
Weekly IDCW Plan ₹ 1,005.4266 Bharti Enterprises Limited CRISIL A1+ 1.60
Motilal Oswal Financial Services Limited CRISIL A1+ 1.24 Cash & Other Receivables 1.76
Monthly IDCW Plan ₹ 1,015.4765
NIIF Infrastructure Finance Limited (NIIF CARE A1+ 1.24 Grand Total 100.00
Quarterly IDCW Plan ₹ 1,022.7675
GROUP)
Direct - Growth Plan ₹ 3,721.7807
Direct - Daily IDCW Plan ₹ 1,003.8273 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Weekly IDCW Plan ₹ 1,005.4249
Direct - Monthly IDCW Plan ₹ 1,015.5766
Rating Profile Asset Allocation
Direct - Quarterly IDCW Plan ₹ 1,022.9262
Direct - Bonus Option ₹ 2,188.4836 Certificate of Deposit : 49.50%
Commercial Paper : 33.65%
Average Maturity 129 Days Treasury Bill : 11.16%
Modified Duration 119 Days AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 1.76%
Receivables : 99.79% State Government Bond : 1.32%
Annualized portfolio YTM* 7.62% Unrated : 0.21% Government Bond : 1.28%
Government Bond Strips : 1.12%
Macaulay Duration 129 Days Corporate Debt Market
*In case of semi annual YTM, it has been Development Fund : 0.21%

annualised.
Total Expense Ratio^
Regular/Other than Direct 0.35%
Direct 0.24%
IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Load structure Monthly IDCW Plan Quarterly IDCW Plan
Entry Load: Not Applicable 28-Nov-23 6.3577 1021.6564 1015.2987 21-Sep-23 18.6593 1028.2977 1009.6384
Exit Load: Nil 25-Oct-23 5.5513 1020.6703 1015.1190 15-Jun-23 20.9055 1030.6077 1009.7022
25-Sep-23 5.3524 1020.2633 1014.9109 16-Mar-23 15.8437 1025.9324 1010.0887
Direct - Monthly IDCW Plan Direct - Quarterly IDCW Plan
PRC Matrix 28-Nov-23 6.4586 1021.8556 1015.3970 21-Sep-23 18.9611 1028.5467 1009.5856
25-Oct-23 5.6399 1020.8541 1015.2142 15-Jun-23 21.2142 1030.8632 1009.6490
Potential Risk Class
25-Sep-23 5.4374 1020.4405 1015.0031 16-Mar-23 16.1587 1026.1959 1010.0372
Credit Risk→ Relatively Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Relatively Low Moderate Value- ₹1000.
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
B-I
(Class I)
Moderate
(Class II)
Relatively High
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Money Market CRISIL Money Market B-I Index
This product is suitable for investors who are seeking*:
Fund
Income over short term
Investment in money market instruments having residual maturity up to 1
year

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 25

Nippon India Ultra Short Duration Fund (Number of Segregated Portfolio -1)
Ultra Short Duration Fund Portfolio as on November 30, 2023
Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Details as on November 30, 2023 Certificate of Deposit 35.02 National Housing Bank CRISIL AAA 2.10
HDFC Bank Limited FITCH 7.39 Motilal Oswal Finvest Limited ICRA AA 1.29
Type of Scheme A1+/CARE A1+ Manappuram Finance Limited CRISIL AA 1.18
Axis Bank Limited CRISIL A1+ 7.21 Piramal Capital & Housing Finance Limited CARE AA 1.13
An open ended ultra-short term debt scheme investing in debt and money Canara Bank CRISIL A1+ 6.62 PNB Housing Finance Limited CRISIL AA 0.84
market instruments such that the Macaulay duration of the portfolio is National Bank For Agriculture and Rural CRISIL 3.31 Embassy Office Parks REIT (Blackstone CRISIL AAA 0.83
between 3 - 6 months. Moderate interest rate risk and moderate Credit Risk. Development A1+/FITCH A1+ group(Exposure to the NCDs issued by REIT))
The Federal Bank Limited CRISIL A1+ 2.47 Andhra Pradesh State Beverages Corporation FITCH 0.58
Current Investment Philosophy ICICI Bank Limited ICRA A1+ 2.36 Limited (A.P.State PSU (Structured escrow AA(CE)
Kotak Mahindra Bank Limited CRISIL A1+ 2.06 mechanism for payments & Guarantee by
The fund invests in debt and money market instruments with an endeavor to AU Small Finance Bank Limited CRISIL A1+ 1.56 government of Andhra Pradesh))
maintain portfolio duration between 120 - 180 days. The aim is to generate State Bank of India FITCH A1+ 0.82 Bharti Telecom Limited CRISIL AA+ 0.50
higher gross yield through a portfolio investing across credit categories. It Small Industries Dev Bank of India CARE A1+ 0.81 REC Limited CRISIL AAA 0.42
endeavors to protect against volatility. Union Bank of India FITCH A1+ 0.42 Export Import Bank of India CRISIL AAA 0.33
Commercial Paper 21.21 North Eastern Electric Power Corporation ICRA AA+ 0.26
Date of Allotment Godrej Properties Limited ICRA A1+ 3.35 Limited (Central Public sector Undertaking
Seil Energy India Limited ICRA A1+ 2.33 Group)
December 07, 2001 Bharat Petroleum Corporation Limited CRISIL AAA 0.17
Small Industries Dev Bank of India CRISIL 2.07
A1+/CARE A1+ Floating Rate Note 0.85
Fund Manager(s) ONGC Petro Additions Limited CRISIL A1+ 1.65 Shriram Finance Limited CRISIL AA+ 0.85
Vivek Sharma (Managing Since Oct 2013) 360 One WAM Limited ICRA A1+ 1.65 State Government Bond 1.69
Total Experience of more than 17 years Mahindra & Mahindra Financial Services CRISIL A1+ 1.64 State Government Securities SOV 1.69
Limited Treasury Bill 10.17
Benchmark Piramal Capital & Housing Finance Limited CRISIL A1+ 1.64 Government of India SOV 10.17
Bharti Enterprises Limited CRISIL A1+ 1.62 Zero Coupon Bond 0.76
NIFTY Ultra Short Duration Debt Index B-I Deutsche Investments India Pvt Limited CRISIL A1+ 1.58 Hero Fincorp Limited ICRA AA+ 0.76
Muthoot Finance Limited CRISIL A1+ 1.22 Corporate Debt Market Development Fund 0.20
Fund Size REC Limited CRISIL A1+ 0.83 Corporate Debt Market Development Fund 0.20
Monthly Average: ₹ 5,957.66 Cr. HDFC Bank Limited CRISIL A1+ 0.82 Class A2
Shriram Housing Finance Limited CARE A1+ 0.82 PTC 4.36
Month End: ₹ 5,946.05 Cr. Corporate Bond 18.25
Sansar Trust (PTC of pools from Shriram ICRA 2.04
National Bank For Agriculture and Rural ICRA 3.91
NAV as on November 30, 2023 Development AAA/CRISIL AAA
Transport Finance Corporation) AAA(SO)
Indigo 023 ICRA AA+ 1.52
Growth Plan ₹ 3,604.0450 LIC Housing Finance Limited CRISIL AAA 2.52 (SO)
Daily IDCW Plan ₹ 1,114.1500 Shriram Finance Limited CRISIL 2.19 Liquid Gold Series CRISIL 0.81
Weekly IDCW Plan ₹ 1,092.7624 AA+/FITCH AA+ AAA(SO)
Monthly IDCW Plan ₹ 1,013.6997 Cash & Other Receivables 7.49
Quarterly IDCW Plan ₹ 1,022.4426 Grand Total 100.00
Direct - Growth Plan ₹ 3,928.4959
Direct - Daily IDCW Plan ₹ 1,114.1500 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Weekly IDCW Plan ₹ 1,092.9022
Direct - Monthly IDCW Plan ₹ 1,022.8868 Rating Profile Asset Allocation
Direct - Quarterly IDCW Plan ₹ 1,030.3846
Certificate of Deposit : 35.02%
Average Maturity 151 Days Commercial Paper : 21.21%
Corporate Bond : 18.25%
Modified Duration 138 Days AAA/SOV/A1+/Cash & Other Treasury Bill : 10.17%
Receivables : 88.70% Cash & Other Receivables : 7.49%
Annualized portfolio YTM* 7.76% AA+ : 6.08% PTC : 4.36%
State Government Bond : 1.69%
Macaulay Duration 148 Days AA : 5.02%
Floating Rate Note : 0.85%
Unrated : 0.20%
*In case of semi annual YTM, it has been Zero Coupon Bond : 0.76%
Corporate Debt Market
annualised. Development Fund : 0.20%

Total Expense Ratio^

Regular/Other than Direct 1.16%
Direct 0.38% IDCW History
Load structure Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Entry Load: Not Applicable Monthly IDCW Plan Quarterly IDCW Plan
28-Nov-23 5.6899 1019.2376 1013.5477 21-Sep-23 17.1706 1027.7315 1010.5609
Exit Load: Nil
Not applicable for Segregated Portfolio 25-Oct-23 5.0685 1018.4773 1013.4088 15-Jun-23 19.1068 1029.6298 1010.5230
25-Sep-23 4.9606 1018.2139 1013.2533 16-Mar-23 14.1731 1025.0875 1010.9144
Direct - Monthly IDCW Plan Direct - Quarterly IDCW Plan
28-Nov-23 6.4681 1029.1809 1022.7128 21-Sep-23 19.4675 1036.3663 1016.8988
Segregated Portfolio 1 25-Oct-23 5.7553 1028.3059 1022.5506 15-Jun-23 21.2762 1038.1337 1016.8575
25-Sep-23 5.6240 1027.9953 1022.3713 16-Mar-23 16.2267 1033.4766 1017.2499

Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹1000.

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Product Label Fund Riskometer Benchmark Riskometer
Moderate
B-II Nippon India Ultra Short Duration Fund (Number NIFTY Ultra Short Duration Debt
(Class II) This product is suitable for investors who are seeking*:
of Segregated Portfolio -1) Index B-I
Relatively High
Income over short term
(Class III) Investment in debt and money market instruments such
that the Macaulay duration of the portfolio is between 3
- 6 months

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on the
about whether the product is suitable for them.
page

26 December 2023 Fundamentals

Nippon India Low Duration Fund
Low Duration Fund Portfolio as on November 30, 2023
Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Details as on November 30, 2023 Certificate of Deposit 19.76 ICICI Home Finance Company Limited CRISIL AAA 1.38
Axis Bank Limited CRISIL A1+ 4.02 Piramal Capital & Housing Finance Limited CARE AA 1.23
Type of Scheme ICICI Bank Limited ICRA A1+ 3.68 Mahindra & Mahindra Financial Services CRISIL AAA 1.15
HDFC Bank Limited CARE 3.39 Limited
An open ended low duration debt scheme investing in debt and money market A1+/CRISIL A1+ Manappuram Finance Limited CRISIL AA 1.15
instruments such that the Macaulay duration of the portfolio is between 6 - 12 Export Import Bank of India ICRA A1+ 3.01 HDFC Bank Limited CRISIL AAA 1.14
months. Relatively High interest rate risk and moderate Credit Risk. Canara Bank CRISIL A1+ 2.64 Bharti Telecom Limited CRISIL AA+ 0.97
State Bank of India FITCH A1+ 1.88 Can Fin Homes Limited ICRA AA+ 0.90
Current Investment Philosophy Small Industries Dev Bank of India CARE A1+ 0.75 Muthoot Finance Limited CRISIL 0.77
The Federal Bank Limited CRISIL A1+ 0.38 AA+/ICRA
The fund endeavors to invest more than 80% in higher rated Commercial Paper 7.34 AA+
(AAA/A1+/equivalent) assets. A major part of the portfolio gets allocated in 0 - REC Limited CRISIL A1+ 1.88 National Housing Bank CRISIL AAA 0.77
9 months and 15 – 30% allocation is made in assets of 9 - 18 months maturity Export Import Bank of India CRISIL A1+ 1.50 Reliance Industries Limited CRISIL AAA 0.39
bucket, which aims to give the portfolio carry advantage and roll down Birla Group Holdings Private Limited CRISIL A1+ 1.48 Kotak Mahindra Prime Limited CRISIL AAA 0.08
benefit. The portfolio duration would be maintained between 180 - 365 days. Muthoot Finance Limited CRISIL A1+ 1.11 Floating Rate Note 0.78
NIIF Infrastructure Finance Limited (NIIF CARE A1+ 0.76 Shriram Finance Limited CRISIL AA+ 0.78
Date of Allotment GROUP) State Government Bond 2.62
HDFC Bank Limited CRISIL A1+ 0.38 State Government Securities SOV 2.62
March 20, 2007 Mahindra & Mahindra Financial Services CRISIL A1+ 0.23 Treasury Bill 12.13
Limited Government of India SOV 12.13
Fund Manager(s) Corporate Bond 43.94 Government Bond Strips 1.77
Anju Chhajer (Managing Since Oct 2009) National Bank For Agriculture and Rural CRISIL 6.76 Government of India SOV 1.77
Total Experience of more than 27 years Development AAA/ICRA AAA Corporate Debt Market Development Fund 0.24
Vivek Sharma (Managing Since Feb 2020) Small Industries Dev Bank of India ICRA 6.31 Corporate Debt Market Development Fund 0.24
Total Experience of more than 17 years AAA/CRISIL AAA Class A2
Power Finance Corporation Limited CRISIL AAA 4.42 PTC 4.85
Bharat Petroleum Corporation Limited CRISIL AAA 3.32
Benchmark PNB Housing Finance Limited CRISIL AA/ICRA 3.07
Sansar Trust (PTC of pools from Shriram ICRA 3.38
Transport Finance Corporation) AAA(SO)
CRISIL Low Duration Debt B-I Index AA Liquid Gold Series CRISIL 1.48
Highways Infrastructure Trust (KKR GROUP) CRISIL AAA 2.64 AAA(SO)
Fund Size REC Limited CRISIL AAA 2.53
Cash & Other Receivables 6.57
India Grid Trust InvIT Fund (India Grid Trust CRISIL AAA 1.90
Monthly Average: ₹ 6,378.13 Cr. Group) Grand Total 100.00
Month End: ₹ 6,512.84 Cr. Embassy Office Parks REIT (Blackstone CRISIL AAA 1.53
group(Exposure to the NCDs issued by
NAV as on November 30, 2023 REIT))
Growth Plan ₹ 3,333.3020 HDB Financial Services Limited CRISIL AAA 1.52
IDCW Plan ₹ 1,771.8331 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Daily IDCW Plan ₹ 1,008.9718
Weekly IDCW Plan ₹ 1,009.1003
Monthly IDCW Plan ₹ 1,024.7748 Rating Profile Asset Allocation
Quarterly IDCW Plan ₹ 1,022.6630 Corporate Bond : 43.94%
Certificate of Deposit : 19.76%
Bonus Option ₹ 1,935.3347 Treasury Bill : 12.13%
Direct - Growth Plan ₹ 3,503.1319 AAA/SOV/A1+/Cash & Other Commercial Paper : 7.34%
Direct - IDCW Plan ₹ 1,852.7760 Receivables : 90.88% Cash & Other Receivables : 6.57%
Direct - Daily IDCW Plan ₹ 1,009.0623 AA : 5.45% PTC : 4.85%
AA+ : 3.43% State Government Bond : 2.62%
Direct - Weekly IDCW Plan ₹ 1,009.2564 Government Bond Strips : 1.77%
Unrated : 0.24%
Direct - Monthly IDCW Plan ₹ 1,032.0675 Floating Rate Note : 0.78%
Direct - Quarterly IDCW Plan ₹ 1,023.9793 Corporate Debt Market
Development Fund : 0.24%
Direct - Bonus Option ₹ 2,034.9564
Retail - Growth Plan ₹ 3,173.5724
Retail - Daily IDCW Plan ₹ 1,008.9723
Retail - Weekly IDCW Plan ₹ 1,009.2695
Retail - Monthly IDCW Plan ₹ 1,026.7118 IDCW History
Retail - Quarterly IDCW Plan ₹ 1,022.4180 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Retail - Bonus Option ₹ 2,364.8222 IDCW Plan Quarterly IDCW Plan
Average Maturity 349 Days 27-Mar-23 54.0000 1746.7522 1692.7522 21-Sep-23 16.9926 1028.5751 1011.5825
19-Sep-14 57.8673 1078.3435 1004.0853 15-Jun-23 21.2424 1032.6128 1011.3704
Modified Duration 311 Days Direct - IDCW Plan 16-Mar-23 12.7523 1025.0989 1012.3466
Annualized portfolio YTM* 7.77% 27-Mar-23 54.0000 1817.2621 1763.2621 Retail - Quarterly IDCW Plan
Macaulay Duration 332 Days 19-Sep-14 61.1289 1082.6239 1004.1802 21-Sep-23 16.5260 1028.1904 1011.6644
Monthly IDCW Plan 15-Jun-23 20.9200 1032.3728 1011.4528
*In case of semi annual YTM, it has been 20-Nov-23 5.7077 1029.1067 1023.3990 16-Mar-23 12.5574 1024.9978 1012.4404
annualised. 19-Oct-23 4.3924 1027.8821 1023.4897 Direct - Quarterly IDCW Plan
20-Sep-23 5.4879 1028.9697 1023.4818 21-Sep-23 18.5351 1030.3507 1011.8156
Total Expense Ratio^ Retail - Monthly IDCW Plan 15-Jun-23 22.8129 1034.4128 1011.5999
Regular/Other than Direct 0.94% 20-Nov-23 5.5576 1030.9502 1025.3926 16-Mar-23 14.3648 1026.9519 1012.5871
Direct 0.38% 19-Oct-23 4.2516 1029.7398 1025.4882 Bonus Option
20-Sep-23 5.3465 1030.8315 1025.4850 26-Feb-14 17:2
Load structure Direct - Monthly IDCW Plan 29-Oct-12 3:1
Entry Load: Not Applicable 20-Nov-23 6.2386 1036.7785 1030.5399
Exit Load: Nil 19-Oct-23 4.8662 1035.4815 1030.6153
20-Sep-23 5.9850 1036.5764 1030.5914

PRC Matrix Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹1000.
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
B-III
(Class III)
Product Label Fund Riskometer Benchmark Riskometer
Nippon India Low Duration Fund CRISIL Low Duration Debt B-I
This product is suitable for investors who are seeking*:
Index
Income over short term
Investment in debt and money market instruments such that the Macaulay
duration of the portfolio is between 6 - 12 months

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 27

Nippon India Corporate Bond Fund
Corporate Bond Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets

Type of Scheme Corporate Bond 72.44 Jamnagar Utilities & Power Private CRISIL
2.09
An open ended debt scheme predominantly investing in AA+ and above rated Limited (Mukesh Ambani Group) AAA
CRISIL
corporate bonds. Relatively High interest rate risk and moderate Credit Risk. CRISIL
Small Industries Dev Bank of India AAA/ICRA 7.06 Kotak Mahindra Prime Limited 2.08
AAA AAA
Current Investment Philosophy
The fund seeks to benefit from opportunities available in the corporate bond Power Finance Corporation CRISIL
market space at different points in time. Therefore, this fund invests based on CRISIL AAA 6.87 NTPC Limited 1.52
Limited AAA
short to medium term interest rate view and shape of the yield curve. It
endeavors to maintain portfolio duration between 1.25-4 years and invests in REC Limited CRISIL AAA 6.49 CRISIL
LIC Housing Finance Limited 1.04
well researched credits/structures for yield enhancement. The fund is suitable AAA
for investors with 2-3 years investment horizon. Export Import Bank of India CRISIL AAA 6.24
John Deere Financial India Private CRISIL
National Bank For Agriculture and 1.02
Date of Allotment CRISIL AAA 6.24 Limited (DEERE GROUP) AAA
September 14, 2000 Rural Development
Swarna Tollway Private Limited CRISIL
National Housing Bank CRISIL AAA 4.18 0.62
Fund Manager(s) (MACQUARIE GROUP) AAA
Vivek Sharma (Managing Since Feb 2020) HDFC Bank Limited Basel III CRISIL AAA 4.18 Floating Rate Note 1.87
Total Experience of more than 17 years
Summit Digitel Infrastructure Varanasi Sangam Expressway
CRISIL AAA 4.04 FITCH
Benchmark Limited (BROOKFIELD GROUP) Private Limited (G R Infraprojects 1.87
NIFTY Corporate Bond Index B-III AAA
Tata Capital Housing Finance Limited)
CRISIL AAA 4.03
Limited
Fund Size Government Bond 9.99
Monthly Average: ₹ 2,384.23 Cr. Grasim Industries Limited CRISIL AAA 3.55
Month End: ₹ 2,388.03 Cr. Government of India SOV 9.99
Mahanagar Telephone Nigam CARE
3.16 Corporate Debt Market Development
NAV as on November 30, 2023 Limited AAA(CE) 0.17
Fund
Growth Plan ₹ 52.3980
Power Grid Corporation of India
IDCW Plan ₹ 16.7869 CRISIL AAA 3.00 Corporate Debt Market
Daily IDCW Plan ₹ 17.0931 Limited 0.17
Development Fund Class A2
Weekly IDCW Plan ₹ 17.1047 Indian Railway Finance
Monthly IDCW Plan ₹ 11.5360 CRISIL AAA 2.94
Corporation Limited Cash & Other Receivables 15.53
Quarterly IDCW Plan ₹ 11.8541
Bonus Option ₹ 37.4222 Larsen & Toubro Limited CRISIL AAA 2.10
Direct - Growth Plan ₹ 54.6672 Grand Total 100.00
Direct - IDCW Plan ₹ 17.3226
Direct - Daily IDCW Plan ₹ 17.0933 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Weekly IDCW Plan ₹ 17.1051
Direct - Monthly IDCW Plan ₹ 11.6603 Rating Profile Asset Allocation
Direct - Quarterly IDCW Plan ₹ 12.0033
Direct - Bonus Option ₹ 39.0302
Average Maturity 3.22 Years Corporate Bond : 72.44%
Cash & Other Receivables : 15.53%
Modified Duration 2.46 Years AAA/SOV/A1+/Cash & Other Government Bond : 9.99%
Receivables : 99.83% Floating Rate Note : 1.87%
Annualized portfolio YTM* 7.68% Unrated : 0.17% Corporate Debt Market
Macaulay Duration 2.61 Years Development Fund : 0.17%

*In case of semi annual YTM, it has been

annualised.
Total Expense Ratio^
Regular/Other than Direct 0.67% IDCW History
Direct 0.34%
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Load structure IDCW Plan Direct - Monthly IDCW Plan
Entry Load: Not Applicable 29-Dec-15 0.1464 10.3121 10.1094 20-Nov-23 0.0885 11.7361 11.6476
Exit Load: Nil 29-Dec-14 0.1645 10.2902 10.0636 20-Oct-23 0.0155 11.6683 11.6528
22-Sep-14 0.4097 10.5668 10.0410 20-Sep-23 0.0751 11.7240 11.6489

PRC Matrix Direct - IDCW Plan Quarterly IDCW Plan

29-Dec-15 0.1530 10.3268 10.1149 21-Sep-23 0.1522 11.8964 11.7442
Potential Risk Class 29-Dec-14 0.1720 10.3036 10.0667 15-Jun-23 0.3048 12.0212 11.7164
22-Sep-14 0.5244 10.7161 10.0432 16-Mar-23 0.0984 11.8166 11.7182
Credit Risk→ Relatively
Relatively Low Moderate Monthly IDCW Plan Direct - Quarterly IDCW Plan
Interest Rate High
(Class A) (Class B) 20-Nov-23 0.0846 11.6090 11.5244 21-Sep-23 0.1635 12.0480 11.8845
Risk↓ (Class C)
20-Oct-23 0.0123 11.5419 11.5296 15-Jun-23 0.3179 12.1732 11.8553
Relatively Low 20-Sep-23 0.0713 11.5973 11.5260 16-Mar-23 0.1085 11.9647 11.8562
(Class I)
Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Moderate Value- ₹10.
(Class II)
Relatively High
B-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Corporate Bond NIFTY Corporate Bond Index B-
This product is suitable for investors who are seeking*:
Fund III
Income over medium term
Investment predominantly in AA+ and above rated corporate bonds

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

28 December 2023 Fundamentals

Nippon India Banking & PSU Debt Fund
Banking and PSU Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Certificate of Deposit 5.51 Tata Capital Financial Services Limited ICRA AAA 0.95
Type of Scheme Summit Digitel Infrastructure Limited CRISIL
Axis Bank Limited CRISIL A1+ 2.29 0.94
An open ended debt scheme predominantly investing in Debt instruments of (BROOKFIELD GROUP) AAA
banks, Public Sector Undertakings, Public Financial Institutions and Municipal ICICI Bank Limited ICRA A1+ 1.85
Bonds. Relatively High interest rate risk and moderate Credit Risk. State Bank of India CARE A1+ 0.91 CRISIL
LIC Housing Finance Limited 0.94
AAA
Kotak Mahindra Bank Limited CRISIL A1+ 0.46
Current Investment Philosophy CRISIL
Commercial Paper 1.85 Export Import Bank of India 0.94
The fund's portfolio duration will be maintained between 1.5 - 3.5 years. The AAA
fund will tactically use up to 10 years G-Secs/ SDLs/ AAA Bonds to generate Export Import Bank of India CRISIL A1+ 0.92 HDFC Life Insurance Company CRISIL
alpha. Strategy is to capture opportunity on the desired part of yield curve 0.91
HDFC Bank Limited CRISIL A1+ 0.92 Limited AAA
depending on the interest rate expectations going forward.
Corporate Bond 68.11 CRISIL
NTPC Limited 0.76
Date of Allotment CRISIL
AAA
May 15, 2015 National Bank For Agriculture and Hindustan Petroleum Corporation CRISIL
AAA/ICRA 8.92 0.48
Rural Development Limited AAA
AAA
Fund Manager(s) CRISIL
CRISIL Bharat Petroleum Corporation Limited 0.38
Pranay Sinha (Managing Since Mar 2021) AAA
Small Industries Dev Bank of India AAA/ICRA 8.80
Total Experience of more than 17 years
Vivek Sharma (Managing Since Jun 2020) AAA CRISIL
National Highways Auth Of Ind 0.00
Total Experience of more than 17 years REC Limited CRISIL AAA 8.18 AAA
HDFC Bank Limited Basel III CRISIL AAA 7.65 CARE
Benchmark NHPC Limited 0.00
Power Finance Corporation Limited CRISIL AAA 7.45 AAA
Nifty Banking & PSU Debt Index Floating Rate Note 1.49
CRISIL
Power Grid Corporation of India
Fund Size Limited
AAA/CRISIL 5.33
Power Finance Corporation Limited
CRISIL
1.49
Monthly Average: ₹ 5,290.83 Cr. AAA AAA
Month End: ₹ 5,292.95 Cr. Mahanagar Telephone Nigam CARE Government Bond 18.16
3.16
Limited AAA(CE) Government of India SOV 18.16
NAV as on November 30, 2023 Axis Bank Limited CRISIL AAA 2.57
Growth Plan ₹ 18.2694 State Government Bond 0.66
IDCW Plan ₹ 18.2694 Indian Railway Finance Corporation
CRISIL AAA 2.36 State Government Securities SOV 0.66
Weekly IDCW Plan ₹ 10.2806 Limited
Monthly IDCW Plan ₹ 10.5945 National Housing Bank CRISIL AAA 2.35 Corporate Debt Market Development
0.19
Quarterly IDCW Plan ₹ 10.7023 Fund
HDB Financial Services Limited CRISIL AAA 1.89
Direct - Growth Plan ₹ 18.8418 Corporate Debt Market Development
Direct - IDCW Plan ₹ 18.8418 State Bank of India Basel III CRISIL AAA 1.65 0.19
Fund Class A2
Direct - Weekly IDCW Plan ₹ 10.2798 ICICI Bank Limited Basel III ICRA AAA 1.50
Direct - Monthly IDCW Plan ₹ 10.6588 Cash & Other Receivables 4.03
Direct - Quarterly IDCW Plan ₹ 10.7588
Direct - Bonus Option ₹ 18.8421 Grand Total 100.00
Average Maturity 4.43 Years For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Modified Duration 3.24 Years
Annualized portfolio YTM* 7.69% Rating Profile Asset Allocation
Macaulay Duration 3.42 Years Corporate Bond : 68.11%
*In case of semi annual YTM, it has been Government Bond : 18.16%
Certificate of Deposit : 5.51%
annualised. AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 4.03%
Receivables : 99.81% Commercial Paper : 1.85%
Total Expense Ratio^ Unrated : 0.19% Floating Rate Note : 1.49%
State Government Bond : 0.66%
Regular/Other than Direct 0.74% Corporate Debt Market
Direct 0.36% Development Fund : 0.19%

Load structure
Entry Load: Not Applicable
Exit Load: Nil
IDCW History
PRC Matrix Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Monthly IDCW Plan Quarterly IDCW Plan
Potential Risk Class 20-Nov-23 0.0826 10.6650 10.5824 21-Sep-23 0.1253 10.7304 10.6051
19-Oct-23 0.0070 10.5947 10.5877 15-Jun-23 0.2612 10.8393 10.5781
Credit Risk→ Relatively 20-Sep-23 0.0636 10.6508 10.5872 16-Mar-23 0.0888 10.6710 10.5822
Relatively Low Moderate
Interest Rate High Direct - Monthly IDCW Plan Direct - Quarterly IDCW Plan
(Class A) (Class B)
Risk↓ (Class C) 20-Nov-23 0.0870 10.7326 10.6456 21-Sep-23 0.1359 10.7894 10.6535
19-Oct-23 0.0101 10.6610 10.6509 15-Jun-23 0.2732 10.8984 10.6252
Relatively Low 20-Sep-23 0.0672 10.7174 10.6502 16-Mar-23 0.1008 10.7290 10.6282
(Class I)
Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Moderate Value- ₹10.
(Class II)
Relatively High
B-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Banking & PSU Debt Nifty Banking & PSU Debt Index
This product is suitable for investors who are seeking*:
Fund
Income over short to medium term
Investments in debt and money market instruments of various maturities,
consisting predominantly of securities issued by Banks, Public Sector
undertakings, Public Financial Institutions & Municipal Bonds

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the
product is suitable for them.
page

Fundamentals December 2023 29

Nippon India Floating Rate Fund
Floater Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Certificate of Deposit 9.55 CARE
Type of Scheme Bank of Baroda 1.52
AAA
Axis Bank Limited CRISIL A1+ 5.20
An open ended debt scheme predominantly investing in floating rate CRISIL
instruments (including fixed rate instruments converted to floating rate HDFC Bank Limited CRISIL A1+ 2.49 HDFC Bank Limited 1.45
AAA
exposures using swaps/ derivatives). Relatively High interest rate risk and State Bank of India FITCH A1+ 1.25
Low Credit Risk. Indian Railway Finance Corporation CRISIL
Small Industries Dev Bank of India CARE A1+ 0.61 1.14
Limited AAA
Current Investment Philosophy Commercial Paper 3.44 Sikka Ports and Terminals Limited CRISIL
1.03
The fund would predominantly invest in HFC/NBFC/Financial ICRA (Mukesh Ambani Group) AAA
Institutions/Private Sector Corporate & Government Securities. The fund will HDFC Bank Limited A1+/CRISIL 1.25 FITCH
endeavor to invest in high quality assets. The ideal investment horizon for the A1+ Nomura Capital India Pvt Limited 0.63
AAA
fund would be around 1-3 years and is ideal for investors who are looking to
benefit from higher accrual with lower volatility by investing in a high-grade Mahindra & Mahindra Financial CRISIL
CRISIL A1+ 1.24 L&T Finance Limited 0.57
portfolio. SEBI restriction of up to 65% investments in floating rate Services Limited AAA
instruments will be taken care through a mix of OIS trades & floating rate Barclays Investments & Loans Aditya Birla Finance Limited ICRA AAA 0.06
instruments. CRISIL A1+ 0.95
(India) Private Limited
Government Bond 22.86
Date of Allotment Corporate Bond 58.03
Government of India SOV 22.86
August 27, 2004 REC Limited CRISIL AAA 6.88
PTC 1.09
CRISIL
Fund Manager(s) Small Industries Dev Bank of India AAA/ICRA 6.59 First Business Receivables Trust
Anju Chhajer (Managing Since Feb 2020) (Mukesh Ambani Group (PTC backed CRISIL
AAA 1.09
Total Experience of more than 27 years by receivables from Reliance group AAA(SO)
Power Finance Corporation Limited CRISIL AAA 6.20 entities))
Benchmark National Bank For Agriculture and
CRISIL
State Government Bond 0.30
CRISIL Short Term Bond Index AAA/ICRA 5.36
Rural Development State Government Securities SOV 0.30
AAA
Fund Size Tata Capital Housing Finance Zero Coupon Bond 1.05
CRISIL AAA 4.60
Monthly Average: ₹ 7,860.85 Cr. Limited Mahindra & Mahindra Financial FITCH
Month End: ₹ 7,867.07 Cr. 1.05
HDB Financial Services Limited CRISIL AAA 4.43 Services Limited AAA
NAV as on November 30, 2023 State Bank of India Basel III CRISIL AAA 4.38 Government Bond Strips 0.24
Growth Plan ₹ 39.6840 Bajaj Housing Finance Limited CRISIL AAA 3.80 Government of India SOV 0.24
IDCW Plan ₹ 17.9185 Summit Digitel Infrastructure
CRISIL AAA 3.18 Corporate Debt Market Development
Daily IDCW Plan ₹ 10.2330 Limited (BROOKFIELD GROUP) 0.23
Weekly IDCW Plan ₹ 10.2420 Fund
Monthly IDCW Plan ₹ 11.0479 ICICI Home Finance Company Corporate Debt Market Development
CRISIL AAA 3.04 0.23
Quarterly IDCW Plan ₹ 10.9076 Limited Fund Class A2
Direct - Growth Plan ₹ 41.5625 Mahindra & Mahindra Limited CRISIL AAA 1.58
Direct - IDCW Plan ₹ 18.5436 Cash & Other Receivables 3.20
L&T Metro Rail (Hyderabad) Limited CRISIL
Direct - Daily IDCW Plan ₹ 10.2546 1.55
Direct - Weekly IDCW Plan ₹ 10.2455
(Guarantee by L&T Ltd.) AAA(CE) Grand Total 100.00
Direct - Monthly IDCW Plan ₹ 11.2435 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Quarterly IDCW Plan ₹ 10.8021
Average Maturity 3.17 Years Rating Profile Asset Allocation
Modified Duration 2.45 Years Corporate Bond : 58.03%
Government Bond : 22.86%
Annualized portfolio YTM* 7.90% Certificate of Deposit : 9.55%
Macaulay Duration 2.60 Years Commercial Paper : 3.44%
Cash & Other Receivables : 3.20%
AAA/SOV/A1+/Cash & Other
*In case of semi annual YTM, it has been Receivables : 99.77% PTC : 1.09%
Zero Coupon Bond : 1.05%
annualised. Unrated : 0.23%
State Government Bond : 0.30%
Government Bond Strips : 0.24%
Total Expense Ratio^ Corporate Debt Market
Development Fund : 0.23%
Regular/Other than Direct 0.58%
Direct 0.31%

Load structure
Entry Load: Not Applicable IDCW History
Exit Load: Nil Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
IDCW Plan Direct - Monthly IDCW Plan
29-Dec-14 0.1553 10.3351 10.1212 20-Nov-23 0.0722 11.2998 11.2276
PRC Matrix
19-Sep-14 0.6972 10.9355 10.0408 19-Oct-23 0.0328 11.2636 11.2308
Potential Risk Class Direct - IDCW Plan 20-Sep-23 0.0812 11.3105 11.2293
29-Dec-14 0.1628 10.3512 10.1269 Quarterly IDCW Plan
Credit Risk→ Relatively 19-Sep-14 0.7433 10.9971 10.0433 21-Sep-23 0.1721 10.9712 10.7991
Relatively Low Moderate Monthly IDCW Plan 15-Jun-23 0.2501 11.0138 10.7637
Interest Rate High
(Class A) (Class B) 20-Nov-23 0.0684 11.1014 11.0330 16-Mar-23 0.0945 10.8506 10.7561
Risk↓ (Class C)
19-Oct-23 0.0299 11.0661 11.0362 Direct - Quarterly IDCW Plan
Relatively Low 20-Sep-23 0.0772 11.1120 11.0348 21-Sep-23 0.1761 10.8653 10.6892
(Class I) 15-Jun-23 0.2565 10.9099 10.6534
Moderate 16-Mar-23 0.0978 10.7429 10.6451
(Class II) Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Relatively High Value- ₹10.
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Floating Rate Fund CRISIL Short Term Bond Index
Income over short term
Investment predominantly in floating rate instruments (Including fixed rate
instruments converted to floating rate exposures using swaps/ derivatives)

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

30 December 2023 Fundamentals

Nippon India Short Term Fund
Short Duration Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Commercial Paper 0.16 Tata Capital Housing Finance
Type of Scheme CRISIL AAA 0.55
Limited
HDFC Bank Limited CRISIL A1+ 0.16
An open ended short term debt scheme investing in instruments such that the Power Grid Corporation of India
Macaulay duration of the portfolio is between 1 to 3 years. Relatively High Corporate Bond 53.70 CRISIL AAA 0.53
Limited
interest rate risk and moderate Credit Risk. REC Limited CRISIL AAA 7.28 Kotak Mahindra Prime Limited CRISIL AAA 0.49
Current Investment Philosophy ICRA Embassy Office Parks REIT
Small Industries Dev Bank of India AAA/CRISIL 6.43
The fund endeavors to maintain portfolio duration between 1.25 - 2.5 years. (Blackstone group(Exposure to CRISIL AAA 0.47
The portfolio will have allocations to G-Secs/ SDLs/ High grade bonds AAA the NCDs issued by REIT))
primarily in the 1 - 5 years duration bucket. The fund will tactically use G- National Bank For Agriculture and The Federal Bank Limited FITCH AA 0.44
CRISIL AAA 5.27
Secs/SDLs to generate alpha. The strategy is to enhance returns through Rural Development
asset allocation and shape of the curve. NTPC Limited CRISIL AAA 0.40
HDFC Bank Limited CRISIL AAA 4.02
Bajaj Housing Finance Limited CRISIL AAA 0.24
Date of Allotment India Grid Trust InvIT Fund (India
CRISIL AAA 3.40 NHPC Limited CARE AAA 0.05
December 18, 2002 Grid Trust Group)
Power Finance Corporation Limited CRISIL AAA 3.39 India Infradebt Limited (India
CRISIL AAA 0.02
Fund Manager(s) Infradebt Limited)
LIC Housing Finance Limited CRISIL AAA 2.85
Sushil Budhia (Managing Since Mar 2021) Government Bond 28.44
Mahindra & Mahindra Financial
Total Experience of more than 22 years CRISIL AAA 1.95 Government of India SOV 28.44
Services Limited
Vivek Sharma (Managing Since Feb 2020)
Total Experience of more than 17 years Torrent Power Limited (Torrent State Government Bond 4.91
CRISIL AA+ 1.76
group) State Government Securities SOV 4.91
Benchmark PNB Housing Finance Limited ICRA AA 1.63 Treasury Bill 3.77
CRISIL Short Duration Debt B-II Index Titan Company Limited CRISIL AAA 1.63 Government of India SOV 3.77
Fund Size HDB Financial Services Limited CRISIL AAA 1.61
Corporate Debt Market
Monthly Average: ₹ 6,134.24 Cr. Samvardhana Motherson 0.23
FITCH AAA 1.46 Development Fund
Month End: ₹ 6,122.18 Cr. International Limited
Corporate Debt Market
Grasim Industries Limited CRISIL AAA 1.46 0.23
NAV as on November 30, 2023 Development Fund Class A2
State Bank of India Basel III CRISIL AAA 1.35
Growth Plan ₹ 46.3392 PTC 2.43
IDCW Plan ₹ 18.8478 Tata Capital Financial Services
ICRA AAA 1.23 Sansar Trust (PTC of pools from
Monthly IDCW Plan ₹ 11.4363 Limited
Shriram Transport Finance ICRA AAA(SO) 1.84
Quarterly IDCW Plan ₹ 14.7681 Summit Digitel Infrastructure
Direct - Growth Plan ₹ 49.9035 CRISIL AAA 0.81 Corporation)
Limited (BROOKFIELD GROUP)
Direct - IDCW Plan ₹ 20.2810 First Business Receivables Trust
Jamnagar Utilities & Power Private CRISIL
Direct - Monthly IDCW Plan ₹ 11.6549 CRISIL AAA 0.81 (Mukesh Ambani Group (PTC
Direct - Quarterly IDCW Plan ₹ 15.1131 Limited (Mukesh Ambani Group) AAA(SO)/CRISIL 0.59
backed by receivables from
Bharti Telecom Limited CRISIL AA+ 0.81 AAA(SO)
Average Maturity Reliance group entities))
3.39 Years
Swarna Tollway Private Limited
Modified Duration 2.72 Years CRISIL AAA 0.76 Cash & Other Receivables 6.35
(MACQUARIE GROUP)
Annualized portfolio YTM* 7.74% Grand Total 100.00
Larsen & Toubro Limited CRISIL AAA 0.57
Macaulay Duration 2.87 Years
*In case of semi annual YTM, it has been For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
annualised.
Rating Profile Asset Allocation
Total Expense Ratio^
Regular/Other than Direct 0.94% Corporate Bond : 53.70%
Government Bond : 28.44%
Direct 0.37% AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 6.35%
Receivables : 95.12% State Government Bond : 4.91%
Load structure AA+ : 2.58% Treasury Bill : 3.77%
AA : 2.08% PTC : 2.43%
Entry Load: Not Applicable Unrated : 0.23% Corporate Debt Market
Exit Load: Nil Development Fund : 0.23%
Commercial Paper : 0.16%

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively IDCW History
Relatively Low Moderate Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C) IDCW Reinvestment Plan Direct - Monthly IDCW Plan
28-Nov-23 0.0763 11.5145 11.4382 28-Nov-23 0.0838 11.7404 11.6566
Relatively Low 25-Oct-23 0.0249 11.4560 11.4311 25-Oct-23 0.0307 11.6800 11.6493
(Class I) 25-Sep-23 0.0506 11.4821 11.4315 25-Sep-23 0.0568 11.7063 11.6495
Moderate IDCW Plan Quarterly IDCW Plan
(Class II) 19-Sep-14 0.5747 10.7899 10.0524 21-Sep-23 0.1761 14.8011 14.6250

Relatively High Direct - IDCW Plan 15-Jun-23 0.3483 14.9352 14.5869

B-III 19-Sep-14 0.6228 10.9448 10.1456 16-Mar-23 0.1075 14.6905 14.5830
(Class III)
Direct - Quarterly IDCW Plan
21-Sep-23 0.2019 15.1526 14.9507
15-Jun-23 0.3804 15.2896 14.9092
16-Mar-23 0.1361 15.0390 14.9029

Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹10.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Short Term Fund CRISIL Short Duration Debt B-II
This product is suitable for investors who are seeking*:
Index
Income over short term
IInvestment in debt & money market instruments with portfolio Macaulay
Duration between 1 - 3 years

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 31

Nippon India Nivesh Lakshya Fund
Long Duration Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 96.04

An open ended debt scheme investing in instruments such that the Macaulay
Government of India SOV 96.04
duration of the portfolio is greater than 7 years. Relatively High interest rate
risk and Relatively Low Credit Risk. Corporate Debt Market Development Fund 0.10
Current Investment Philosophy Corporate Debt Market Development Fund Class A2 0.10
The fund's investments are in long term fixed income securities
predominantly Government Securities at the current yields. Most of the Cash & Other Receivables 3.86
securities are held till maturity. Rebalancing of the portfolio is done to ensure
that similar securities mix is maintained. Grand Total 100.00
Date of Allotment For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
July 06, 2018

Fund Manager(s) Rating Profile Asset Allocation

Pranay Sinha (Managing Since Mar 2021)
Total Experience of more than 17 years
Government Bond : 96.04%
Benchmark AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 3.86%
Receivables : 99.90% Corporate Debt Market
CRISIL Long Duration Debt A-III Index Unrated : 0.10% Development Fund : 0.10%

Fund Size
Monthly Average: ₹ 6,474.46 Cr.
Month End: ₹ 6,493.97 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 15.2905 IDCW History
IDCW Plan ₹ 15.2899 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Monthly IDCW Plan ₹ 11.6326
Quarterly IDCW Plan ₹ 11.2774 Monthly IDCW Plan Half Yearly IDCW Plan
Half Yearly IDCW Plan ₹ 11.9278 20-Sep-23 0.0511 11.7361 11.6850 21-Sep-23 0.4744 12.4463 11.9719
Annual IDCW Plan ₹ 12.1542 19-May-23 0.3489 12.0380 11.6891 16-Mar-23 0.2284 12.1321 11.9037
Direct - Growth Plan ₹ 15.5562 19-Apr-23 0.0940 11.7726 11.6786 19-Sep-22 0.1991 11.9826 11.7835
Direct - IDCW Plan ₹ 15.5563 Direct - Monthly IDCW Plan Direct - Half Yearly IDCW Plan
Direct - Monthly IDCW Plan ₹ 11.6511 20-Sep-23 0.0620 11.7583 11.6963 21-Sep-23 0.4925 12.4913 11.9988
Direct - Quarterly IDCW Plan ₹ 11.3284 19-May-23 0.3519 12.0522 11.7003 16-Mar-23 0.2491 12.1785 11.9294
Direct - Half Yearly IDCW Plan ₹ 11.9619 19-Apr-23 0.0967 11.7861 11.6894 19-Sep-22 0.2182 12.0261 11.8079
Direct - Annual IDCW Plan ₹ 12.1850
Quarterly IDCW Plan Annual IDCW Plan
Average Maturity 21.02 Years 21-Sep-23 0.0081 11.3272 11.3191 16-Mar-23 0.4485 12.1158 11.6673
Modified Duration 9.99 Years 15-Jun-23 0.5184 11.7753 11.2569 21-Mar-22 0.2382 11.7855 11.5473
16-Mar-23 0.0655 11.3977 11.3322 19-Mar-21 0.6410 12.1630 11.5220
Annualized portfolio YTM* 7.57%
Direct - Quarterly IDCW Plan Direct - Annual IDCW Plan
Macaulay Duration 10.36 Years
21-Sep-23 0.0159 11.3792 11.3633 16-Mar-23 0.4892 12.1619 11.6727
*In case of semi annual YTM, it has been 15-Jun-23 0.5279 11.8280 11.3001 21-Mar-22 0.2694 11.8208 11.5514
annualised. 16-Mar-23 0.0738 11.4488 11.3750 19-Mar-21 0.6800 12.2047 11.5247

Total Expense Ratio^ Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Value- ₹10.
Regular/Other than Direct 0.63%
Direct 0.30%

Load structure
Entry Load: Not Applicable
Exit Load: 20% of the units allotted can be redeemed without any exit load, on
or before completion of 12 months from the date of allotment of units.
Any redemption in excess of such limit in the first 12 months from the date of
allotment shall be subject to the following exit load. Redemption of units
would be done on First in First out Basis (FIFO):
1% if redeemed or switched out on or before completion of 12 months
from the date of allotment of units.
Nil, if redeemed or switched out after completion of 12 months from the
date of allotment of units.

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nivesh Lakshya CRISIL Long Duration Debt A-III
This product is suitable for investors who are seeking*:
Fund Index
Income over long term
Investment in Debt & Money Market Instruments with portfolio Macaulay
duration of greater than 7 years

*Investors should consult their financial advisors if in doubt about whether

Please refer page no. 119 for explanation on various symbols mentioned on the the product is suitable for them.
page

32 December 2023 Fundamentals

Nippon India Credit Risk Fund (Number of Segregated Portfolios- 2)
Credit Risk Fund Main Portfolio as on November 30, 2023
Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Details as on November 30, 2023 Commercial Paper 0.95 SMFG India Home Finance Company Limited CARE AAA 0.97
Trust Investment Advisors Private Limited CARE A1+ 0.95 Nuvoco Vistas Corporation Limited (Nirma CRISIL AA 0.97
Type of Scheme (TRUST GROUP) Group)
Corporate Bond 78.22 Floating Rate Note 4.66
An open ended debt scheme predominantly investing in AA and below rated Small Industries Dev Bank of India CRISIL AAA 6.33 Macrotech Developers Limited ICRA A+ 3.93
corporate bonds (excluding AA+ rated corporate bonds). Relatively High Summit Digitel Infrastructure Limited CRISIL AAA 5.83 Profectus Capital Private Limited (Profectus CRISIL A- 0.73
interest rate risk and Relatively High Credit Risk. (BROOKFIELD GROUP) Capital Group)
JSW Steel Limited CARE AA 5.35 Government Bond 9.94
Current Investment Philosophy Piramal Capital & Housing Finance Limited ICRA AA 4.69 Government of India SOV 9.94
The fund focuses on maximizing accrual with increased allocation to AA- and Godrej Properties Limited ICRA AA+ 4.36 Corporate Debt Market Development Fund 0.25
Greenlam Industries Limited (GREENLAM ICRA AA- 4.30 Corporate Debt Market Development Fund 0.25
below segment, while maintaining duration of 1.5 - 2.5 years. The core GROUP) Class A2
mandate is to generate returns through accrual, hence low duration profile. Andhra Pradesh State Beverages FITCH AA(CE) 3.87
Emphasis is on credit risk diversification. Cash & Other Receivables 5.97
Corporation Limited (A.P.State PSU
(Structured escrow mechanism for payments Grand Total 100.00
Date of Allotment & Guarantee by government of Andhra Segregated Portfolio 2 as on November 30, 2023
June 08, 2005 Pradesh))
IndoStar Capital Finance Limited CRISIL AA- 3.84 Company/Issuer Rating % of Assets
Spandana Sphoorty Financial Limited FITCH A/FITCH 3.79
Fund Manager(s) A Corporate Bond 0.00
Sushil Budhia (Managing Since Feb 2020) Vivriti Capital Private Limited (VIVRITI) ICRA A/ICRA A 3.77 Yes Bank Limited BASEL III ICRA D 0.00
Total Experience of more than 22 years U.P. Power Corporation Limited (U.P. State CRISIL A+(CE) 3.70
PSU (Structured escrow mechanism for Cash & Other Receivables 100.00
Benchmark payments & Guarantee by government of
Uttar Pradesh)) Grand Total 100.00
NIFTY Credit Risk Bond Index C-III Renew Services Private Limited CARE A+(CE) 3.70
Grasim Industries Limited CRISIL AAA 3.41
Fund Size Main Portfolio Segregated Portfolio 2 Profectus Capital Private Limited (Profectus CRISIL A- 2.53
Monthly Average: ₹ 1,024.37 Cr. 0.00 Cr. Capital Group)
Power Finance Corporation Limited CRISIL AAA 2.44
Month End: ₹ 1,026.14 Cr. 0.00 Cr. Vastu Finserve India Private Limited CARE AA- 2.43
National Bank For Agriculture and Rural CRISIL AAA 2.40
NAV as on November 30, 2023 Development
Main Portfolio Segregated Portfolio 2 Godrej Industries Limited CRISIL AA 2.39
Nirma Limited CRISIL AA 1.46
Growth Plan ₹ 30.5966 ₹ 0.0000 ONGC Petro Additions Limited ICRA AA 1.45
IDCW Plan ₹ 16.7845 ₹ 0.0000 Century Textiles & Industries Limited CRISIL AA 1.45
Quarterly IDCW Plan ₹ 12.8982 ₹ 0.0000 REC Limited CRISIL AAA 1.45
Direct - Growth Plan ₹ 33.2658 ₹ 0.0000 India Shelter Finance Corporation Limited ICRA A+ 1.34
Direct - IDCW Plan ₹ 18.0110 ₹ 0.0000 (INDIA SHELTER FINANCE GROUP)
Direct - Quarterly IDCW Plan ₹ 13.4743 ₹ 0.0000 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Institutional - Growth Plan ₹ 31.9361 ₹ 0.0000
Average Maturity 1.99 Years Rating Profile Asset Allocation
Modified Duration 1.72 Years
Annualized portfolio YTM* 8.98% AAA/SOV/A1+/Cash & Other Corporate Bond : 78.22%
Macaulay Duration 1.81 Years Receivables : 39.69% Government Bond : 9.94%
Cash & Other Receivables : 5.97%
A+/A/A-/A1 : 23.49%
*In case of semi annual YTM, it has been AA : 21.63% Floating Rate Note : 4.66%
Commercial Paper : 0.95%
annualised. AA- : 10.57%
Corporate Debt Market
AA+ : 4.36%
Unrated : 0.25% Development Fund : 0.25%
Total Expense Ratio^
Main Segregated Portfolio 2
Regular/Other than Direct 1.63% --
Direct 0.91% --
IDCW History
Load structure Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Entry Load: Not Applicable Quarterly IDCW Plan
Exit Load: 10% of the units allotted shall be redeemed without any exit load, 21-Sep-23 0.2167 12.9651 12.7484
on or before completion of 12 months from the date of allotment of units. 15-Jun-23 0.3240 13.0388 12.7148
Any redemption in excess of such limit in the first 12 months from the date of 16-Mar-23 0.1200 12.8157 12.6957
allotment shall be subject to the following exit load. Redemption of units Direct - Quarterly IDCW Plan
would be done on First in First out Basis (FIFO): 21-Sep-23 0.2494 13.5493 13.2999
1% if redeemed or switched out on or before completion of 12 months 15-Jun-23 0.3634 13.6255 13.2621
from the date of allotment of units. 16-Mar-23 0.1429 13.3824 13.2395
Nil, if redeemed or switched out after completion of 12 months from the
date of allotment of units. Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Not applicable for Segregated Portfolio Value- ₹10.
Segregated Portfolio 1
Vodafone Idea Limited was segregated from the scheme's portfolio due to
some adverse developments and rating downgrade by CARE to BB- on Feb 17,
2020. An amount of 4.30% of total exposure realized on Sep 16, 2020. The
annual coupon amounting Rs 6.98 cr received on Jan 27, 2021. Further entire
due amount of Rs 93.78 Cr (Face Value + Accrued Interest) was received on
January 27, 2022, subsequently all the units in this segregated portfolio were
redeemed and the portfolio was closed, and the investors were duly paid in
proportion to their holding.
Segregated Portfolio 2
Yes Bank Limited has been segregated from the scheme’s portfolio due to
rating downgrade by ICRA to “D” on March 6, 2020.

Kindly refer to SID/KIM for complete details on segregation of portfolio

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate Product Label Fund Riskometer Benchmark Riskometer
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C) Nippon India Credit Risk Fund (Number of NIFTY Credit Risk Bond Index C-
This product is suitable for investors who are seeking*:
Segregated Portfolios- 2) III
Relatively Low
(Class I) Income over medium term
Investment predominantly in AA and below rated
Moderate corporate bonds
(Class II)
Relatively High
C-III
(Class III)
*Investors should consult their financial advisors if in doubt
Please refer page no. 119 for explanation on various symbols mentioned on the about whether the product is suitable for them.
page

Fundamentals December 2023 33

Nippon India Strategic Debt Fund (Number of Segregated Portfolios - 2)
Medium Duration Fund Main Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Commercial Paper 3.95 Corporate Debt Market Development
Type of Scheme 0.35
Seil Energy India Limited ICRA A1+ 3.95 Fund
An open ended medium term debt scheme investing in instruments such that
Corporate Bond 44.50 Corporate Debt Market Development
the Macaulay duration of the portfolio is between 3 to 4 years. Relatively High 0.35
interest rate risk and Relatively High Credit Risk. Fund Class A2
Summit Digitel Infrastructure Limited
CRISIL AAA 6.38 PTC 5.23
(BROOKFIELD GROUP)
Current Investment Philosophy Sansar Trust (PTC of pools from
Piramal Capital & Housing Finance ICRA
The fund's core allocation of the portfolio is made into AA+ to AA rated ICRA AA 4.78 Shriram Transport Finance 5.23
Corporate Bonds. The focus is on carry with moderate duration. The fund Limited AAA(SO)
Corporation)
intends to generate alpha through spread compression and rolldown over 3 Mahanagar Telephone Nigam CARE
4.16
years period. Limited AAA(CE) Cash & Other Receivables 8.03
Cholamandalam Investment and Grand Total 100.00
Date of Allotment Finance Company Ltd
ICRA AA+ 4.14
June 26, 2014 Segregated Portfolio 2 as on November 30, 2023
Manappuram Finance Limited CRISIL AA 4.12
Fund Manager(s) Godrej Properties Limited ICRA AA+ 4.11 Company/Issuer Rating % of Assets
Sushil Budhia (Managing Since Feb 2020) Muthoot Finance Limited CRISIL AA+ 4.11 Corporate Bond 0.00
Total Experience of more than 22 years Aadhar Housing Finance Limited
FITCH AA 4.10 Yes Bank Limited BASEL III ICRA D 0.00
(Blackstone Group)
Benchmark Cash & Other Receivables 100.00
CRISIL Medium Duration Debt C-III Index JSW Steel Limited ICRA AA 4.09
Century Textiles & Industries Limited CRISIL AA 4.09 Grand Total 100.00
Fund Size Main Portfolio Segregated Portfolio 2 Andhra Pradesh State Beverages
Monthly Average: ₹ 120.47 Cr. 0.00 Cr. Corporation Limited (A.P.State PSU
Month End: ₹ 120.97 Cr. 0.00 Cr. (Structured escrow mechanism for FITCH AA(CE) 0.41
payments & Guarantee by
NAV as on November 30, 2023 government of Andhra Pradesh))
Main Portfolio Segregated Portfolio 2
Government Bond 27.38
Growth Plan ₹ 13.5684 ₹ 0.0000
IDCW Plan ₹ 11.6106 ₹ 0.0000 Government of India SOV 27.38
Quarterly IDCW Plan ₹ 10.0078 ₹ 0.0000 State Government Bond 4.13
Direct - Growth Plan ₹ 14.5694 ₹ 0.0000
Direct - IDCW Plan ₹ 12.2888 ₹ 0.0000 State Government Securities SOV 4.13
Direct - Quarterly IDCW Plan ₹ 10.3741 ₹ 0.0000 Government Bond Strips 6.43
Direct - Bonus Option ₹ 14.5726 ₹ 0.0000
Government of India SOV 6.43
Average Maturity 4.28 Years
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Modified Duration 3.26 Years
Annualized portfolio YTM* 8.21% Rating Profile Asset Allocation
Macaulay Duration 3.43 Years
*In case of semi annual YTM, it has been Corporate Bond : 44.50%
Government Bond : 27.38%
annualised. AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 8.03%
Receivables : 65.69% Government Bond Strips : 6.43%
Total Expense Ratio^ AA : 21.60% PTC : 5.23%
AA+ : 12.36% State Government Bond : 4.13%
Main Segregated Portfolio 2 Unrated : 0.35% Commercial Paper : 3.95%
Corporate Debt Market
Regular/Other than Direct 1.99% -- Development Fund : 0.35%
Direct 1.44% --

Load structure
Entry Load: Not Applicable
Exit Load: 1%, if redeemed or switched out on or before completion of 12 IDCW History
months from the date of allotment of units. Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Nil thereafter. IDCW Plan Quarterly IDCW Plan
Not applicable for Segregated Portfolio 06-May-16 1.1128 11.7941 10.2534 19-Mar-19 0.0832 10.9184 10.8029
Segregated Portfolio 1 19-Sep-14 0.1253 10.2171 10.0563 19-Dec-18 0.0970 10.8641 10.7295
Vodafone Idea Limited was segregated from the scheme's portfolio due to Direct - IDCW Plan 19-Sep-18 0.0921 10.8091 10.6812
some adverse developments and rating downgrade by CARE to BB- on Feb 17, 06-May-16 1.2247 11.9533 10.2577 Direct - Quarterly IDCW Plan
2020. An amount of 4.64% of total exposure realized on Sep 16, 2020. The 19-Sep-14 0.1375 10.2358 10.0593 19-Mar-19 0.0994 11.0192 10.8812
annual coupon amounting Rs 1.82 cr received on Jan 27, 2021. Further entire
19-Dec-18 0.1149 10.9626 10.8031
due amount of Rs 24.42 Cr (Face Value + Accrued Interest) was received on 19-Sep-18 0.1118 10.9072 10.7520
January 27, 2022, subsequently all the units in this segregated portfolio were
redeemed and the portfolio was closed, and the investors were duly paid in Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
proportion to their holding. Value- ₹10.
Segregated Portfolio 2
Yes Bank Limited has been segregated from the scheme’s portfolio due to
rating downgrade by ICRA to “D” on March 6, 2020.

Kindly refer to SID/KIM for complete details on segregation of portfolio

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II) Product Label Fund Riskometer Benchmark Riskometer

Relatively High Nippon India Strategic Debt Fund (Number of CRISIL Medium Duration Debt C-III
C-III This product is suitable for investors who are seeking*:
(Class III) Segregated Portfolios - 2) Index
Income over medium term
Investment predominantly in debt and money market
instruments with portfolio Macaulay Duration of 3 – 4 yrs

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on the about whether the product is suitable for them.
page

34 December 2023 Fundamentals

Nippon India Income Fund
Medium to Long Duration Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets

Type of Scheme Corporate Bond 7.88 State Government Securities SOV 0.00
An open ended medium term debt scheme investing in instruments such that Corporate Debt Market Development
Mahanagar Telephone Nigam CARE 0.23
the Macaulay duration of the portfolio is between 4 to 7 years. Relatively High 3.83
Limited AAA(CE) Fund
interest rate risk and Relatively Low Credit Risk.
CRISIL Corporate Debt Market
Current Investment Philosophy Bharat Sanchar Nigam Limited
AAA(CE)
2.16
Development Fund Class A2
0.23
The fund follows two-pronged strategy: Core and Tactical. Core strategy to
reflect medium to long term view on interest rates and yield curve. The Indian Railway Finance Cash & Other Receivables 9.48
tactical strategy is to benefit out of short term opportunities in the market. CRISIL AAA 1.88
Corporation Limited
The strategy is implemented through high grade assets like G-Secs/ SDLs/
Corporate Bonds to generate alpha by actively using G-Secs, IRF and IRS
Grand Total 100.00
Government Bond 82.41
curve.
Government of India SOV 82.41
Date of Allotment
January 01, 1998 State Government Bond 0.00

Fund Manager(s) For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Vivek Sharma (Managing Since Feb 2020)
Total Experience of more than 17 years Rating Profile Asset Allocation

Benchmark
NIFTY Medium to Long Duration Debt Index A-III Government Bond : 82.41%
Cash & Other Receivables : 9.48%
AAA/SOV/A1+/Cash & Other Corporate Bond : 7.88%
Fund Size Receivables : 99.77% Corporate Debt Market
Unrated : 0.23%
Monthly Average: ₹ 266.07 Cr. Development Fund : 0.23%
State Government Bond : 0.00%
Month End: ₹ 265.58 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 78.8065
Monthly IDCW Plan ₹ 10.6956
Quarterly IDCW Plan ₹ 12.9378
Half Yearly IDCW Plan ₹ 12.3709 IDCW History
Annual IDCW Plan ₹ 13.2926 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Bonus Option ₹ 22.6563 Monthly IDCW Plan Direct - Half Yearly IDCW Plan
Direct - Growth Plan ₹ 86.9252
20-Nov-23 0.0390 10.7321 10.6931 21-Sep-23 0.5342 13.7727 13.2385
Direct - Monthly IDCW Plan ₹ 11.3435
20-Sep-23 0.0633 10.7660 10.7027 16-Mar-23 0.3856 13.5626 13.1770
Direct - Quarterly IDCW Plan ₹ 13.6324
19-Jul-23 0.0497 10.7452 10.6955 19-Sep-22 0.2916 13.3764 13.0848
Direct - Half Yearly IDCW Plan ₹ 13.3064
Direct - Annual IDCW Plan ₹ 14.6415 Direct - Monthly IDCW Plan Annual IDCW Plan
Direct - Bonus Option ₹ 24.8396 20-Nov-23 0.0561 11.3947 11.3386 16-Mar-23 0.4948 13.2226 12.7278
20-Sep-23 0.0824 11.4310 11.3486 21-Mar-22 0.3257 12.9672 12.6415
Average Maturity 11.24 Years 19-Jul-23 0.0599 11.4007 11.3408 19-Mar-21 0.6953 13.2817 12.5864
Modified Duration 6.66 Years Quarterly IDCW Plan Direct - Annual IDCW Plan
Annualized portfolio YTM* 7.47% 21-Sep-23 0.0776 12.9684 12.8908 16-Mar-23 0.6983 14.6351 13.9368
Macaulay Duration 6.91 Years 15-Jun-23 0.4074 13.2431 12.8357 21-Mar-22 0.5089 14.3462 13.8373
16-Mar-23 0.0578 12.9158 12.8580 19-Mar-21 0.8951 14.6653 13.7702
*In case of semi annual YTM, it has been
Direct - Quarterly IDCW Plan Bonus Option
annualised.
21-Sep-23 0.1074 13.6702 13.5628 19-Mar-15 40:1
Total Expense Ratio^ 15-Jun-23 0.4580 13.9598 13.5018 26-Feb-13 5:3
16-Mar-23 0.0937 13.6163 13.5226 Direct - Bonus Option
Regular/Other than Direct 1.37%
Direct 0.58% Half Yearly IDCW Plan 19-Mar-15 40:1
21-Sep-23 0.4440 12.7700 12.3260 26-Feb-13 5:3
Load structure 16-Mar-23 0.2937 12.5655 12.2718
Entry Load: Not Applicable 19-Sep-22 0.2071 12.3970 12.1899
Exit Load: 0.25%, if redeemed or switched out on or before completion of 15 Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
days from the date of allotment of units. Value- ₹10.
Nil, thereafter.

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Income Fund NIFTY Medium to Long Duration Debt
This product is suitable for investors who are seeking*:
Index A-III
Income over medium to long term
Investment in debt and money market instruments with portfolio
Macaulay Duration of 4 – 7 yrs

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

Fundamentals December 2023 35

Nippon India Dynamic Bond Fund
Dynamic Bond Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 9.13

An open ended dynamic debt scheme investing across duration. Relatively
Government of India SOV 9.13
High interest rate risk and Relatively Low Credit Risk.
State Government Bond 87.61
Current Investment Philosophy
The fund invests predominantly in State Government Securities at the current State Government Securities SOV 87.61
yields. Most of the securities are held till maturity. Rebalancing of the portfolio
is done to ensure that similar securities mix is maintained. As per the curent Corporate Debt Market Development Fund 0.19
strategy this fund is suitable for investors with an investment horizon of more
than 3 years Corporate Debt Market Development Fund Class A2 0.19

Date of Allotment Cash & Other Receivables 3.07

November 15, 2004
Grand Total 100.00
Fund Manager(s)
Pranay Sinha (Managing Since Mar 2021)
Total Experience of more than 17 years Rating Profile Asset Allocation
Vivek Sharma (Managing Since Jun 2020)
Total Experience of more than 17 years

Benchmark State Government Bond : 87.61%

AAA/SOV/A1+/Cash & Other Government Bond : 9.13%
CRISIL Dynamic Bond A-III Index Receivables : 99.81% Cash & Other Receivables : 3.07%
Unrated : 0.19% Corporate Debt Market
Fund Size Development Fund : 0.19%

Monthly Average: ₹ 4,450.45 Cr.

Month End: ₹ 4,460.98 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 32.2899
IDCW Plan ₹ 21.7188
Quarterly IDCW Plan ₹ 10.1883
Direct - Growth Plan ₹ 34.4276 SIP - If you invested ₹ 10000 every month
Direct - IDCW Plan ₹ 24.8732
Direct - Quarterly IDCW Plan ₹ 10.2888 Since Inception 15 Years 10 Years 5 Years 3 Years 1 Year
Average Maturity 6.46 Years Total Amount Invested (₹) 2,290,000 1,800,000 1,200,000 600,000 360,000 120,000
Modified Duration 4.97 Years Market Value (₹) 4,547,481 3,104,306 1,644,655 682,955 386,677 123,230
Annualized portfolio YTM* 7.75% Scheme Return (%) 6.73 6.92 6.17 5.17 4.78 5.28
Macaulay Duration 5.16 Years B: CRISIL Dynamic Bond A-III Index Return (%) 7.83 7.65 7.11 5.80 4.98 5.84
*In case of semi annual YTM, it has been
AB: Crisil 10 Yr Gilt Index Return (%) 6.15 6.04 5.75 4.46 4.30 5.93
annualised.
Inception Date: November 15, 2004
Total Expense Ratio^ Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Regular/Other than Direct 0.70% installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Direct 0.31% out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Load structure TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Entry Load: Not Applicable index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Exit Load: Nil

IDCW History
PRC Matrix
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Potential Risk Class IDCW Plan Quarterly IDCW Plan
Credit Risk→ 25-Mar-15 0.9070 14.6923 13.4428 21-Sep-23 0.0802 10.2556 10.1754
Relatively
Relatively Low Moderate 22-Sep-14 0.4881 14.0757 13.4493 15-Jun-23 0.3632 10.4989 10.1357
Interest Rate High
(Class A) (Class B) 25-Mar-14 0.4295 13.9030 13.3518 16-Mar-23 0.0709 10.2125 10.1416
Risk↓ (Class C)
Direct - IDCW Plan Direct - Quarterly IDCW Plan
Relatively Low 25-Mar-15 1.0459 16.1921 14.7512 21-Sep-23 0.0906 10.3587 10.2681
(Class I) 22-Sep-14 0.5706 15.4877 14.7555 15-Jun-23 0.3758 10.6028 10.2270
Moderate 25-Mar-14 0.5499 15.3500 14.6444 16-Mar-23 0.0809 10.3128 10.2319
(Class II) Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Relatively High Value- ₹10.
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Dynamic Bond CRISIL Dynamic Bond A-III Index
This product is suitable for investors who are seeking*:
Fund
Income over long term
Investment in debt and money market instruments across duration

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

36 December 2023 Fundamentals

Nippon India Gilt Securities Fund
Gilt Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 91.56

An open ended debt scheme investing in government securities across
Government of India SOV 91.56
maturity. Relatively High interest rate risk and Relatively Low Credit Risk.
State Government Bond 3.70
Current Investment Philosophy
The fund follows two-pronged strategy: Core and Tactical. Core strategy to State Government Securities SOV 3.70
reflect medium to long term view on interest rates and yield curve. Tactical
strategy to benefit out of short term opportunities in the market. The strategy Cash & Other Receivables 4.74
is implemented through high grade assets like G-Secs/SDLs to generate alpha
by actively using G-Secs, IRF and IRS curve. Grand Total 100.00
Date of Allotment For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
August 22, 2008

Fund Manager(s) Rating Profile Asset Allocation

Pranay Sinha (Managing Since Mar 2021)
Total Experience of more than 17 years

Benchmark AAA/SOV/A1+/Cash & Other

Government Bond : 91.56%
Cash & Other Receivables : 4.74%
CRISIL Dynamic Gilt Index Receivables : 100.00% State Government Bond : 3.70%

Fund Size
Monthly Average: ₹ 1,573.95 Cr.
Month End: ₹ 1,578.84 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 33.2841 IDCW History
Monthly IDCW Plan ₹ 10.5371 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Automatic Annual Reinvestment Plan ₹ 27.9092
Automatic Capital Appreciation Plan ₹ 33.2841 Monthly IDCW Plan
Defined Maturity Plan ₹ 33.2841 28-Nov-23 0.0329 10.5856 10.5527
Direct - Growth Plan ₹ 37.0658 25-Sep-23 0.0588 10.5959 10.5371
Direct - Monthly IDCW Plan ₹ 11.6380 25-Jul-23 0.0290 10.5653 10.5363
Direct - Bonus Option ₹ 20.7161 Direct - Monthly IDCW Plan
Direct - Automatic Annual Reinvestment Plan ₹ 20.0626 28-Nov-23 0.0518 11.7067 11.6549
Direct - Automatic Capital Appreciation Plan ₹ 36.9696 25-Sep-23 0.0550 11.6924 11.6374
Direct - Defined Maturity Plan ₹ 37.1659 25-Aug-23 0.0053 11.6416 11.6363
Institutional - Growth Plan ₹ 33.8212
Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Average Maturity 11.41 Years Value- ₹10.
Modified Duration 7.23 Years
Annualized portfolio YTM* 7.50%
Macaulay Duration 7.50 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^
Regular/Other than Direct 1.40%
Direct 0.63%

Load structure
Entry Load: Not Applicable
Exit Load: 0.25%, if redeemed or switched out on or before completion of 7
days from the date of allotment of units.
Nil, thereafter.

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Gilt Securities Fund CRISIL Dynamic Gilt Index
Income over long term
Investment in government securities across maturity

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

Fundamentals December 2023 37

Nippon India Balanced Advantage Fund
Balanced Advantage Fund Portfolio as on November 30, 2023
Issuer / Instrument Industry / Rating % of Assets Issuer / Instrument Industry / Rating% of Assets
Details as on November 30, 2023 Equity Bharti Airtel Limited* Telecom - 2.15
Non Hedge Services
Type of Scheme Hindustan Aeronautics Limited Aerospace & 0.44 Indus Towers Limited Telecom - 0.33
Defense Services
An Open Ended Dynamic Asset Allocation Fund. Bharat Electronics Limited Aerospace & 0.32 Page Industries Limited Textiles & 0.31
Defense Apparels
Current Investment Philosophy Samvardhana Motherson International Limited Auto Components 0.62 Container Corporation of India Limited Transport 0.72
Bosch Limited Auto Components 0.40 Services
The fund attempts to capitalize on the potential upside in equity markets Endurance Technologies Limited Auto Components 0.36 InterGlobe Aviation Limited Transport 0.39
while attempting to limit the downside by dynamically managing the Hero MotoCorp Limited Automobiles 0.52 Services
Mahindra & Mahindra Limited Automobiles 0.52 Non-Hedge Total 59.23
portfolio through investment in equity and active use of debt, money Maruti Suzuki India Limited Automobiles 0.32 Hedge Total 8.18
market instruments and derivatives. A model based Dynamic Asset TVS Motor Company Limited Automobiles 0.23 Debt
Allocation Fund that aims to offer three benefits: 1. Emotion free asset ICICI Bank Limited* Banks 5.11 Corporate Bonds
HDFC Bank Limited* Banks 4.96 JSW Steel Limited CARE AA/ICRA 0.83
allocation through model based asset allocation. 2. Lowers downside risk Axis Bank Limited* Banks 2.54 AA
through hedging. 3.Generates long term alpha through active stock State Bank of India Banks 1.31 Mahanagar Telephone Nigam Limited CARE AAA(CE) 0.98
United Spirits Limited Beverages 0.79 Manappuram Finance Limited CRISIL AA 0.83
selection and sector allocation. The fund follows an in-house proprietary United Breweries Limited Beverages 0.61 Godrej Industries Limited CRISIL AA 0.06
model (which follows valuations & trend following) to determine UTI Asset Management Company Limited Capital Markets 0.53 Torrent Power Limited CRISIL AA+ 0.28
Larsen & Toubro Limited* Construction 2.08 Muthoot Finance Limited CRISIL AA+ 0.07
unhedged equity allocation. Coal India Limited Consumable Fuels 0.70 Bharti Telecom Limited CRISIL AA+ 0.90
The fund maintains a large cap oriented portfolio diversified across Kansai Nerolac Paints Limited Consumer Durables 0.54 Titan Company Limited CRISIL AAA 0.69
sectors. The debt portfolio is managed conservatively, focused at the Voltas Limited Consumer Durables 0.52 REC Limited CRISIL AAA 0.45
3M India Limited Diversified 0.23 Larsen & Toubro Limited CRISIL AAA 0.35
shorter end through investment in a combination of liquid and short term ITC Limited* Diversified FMCG 2.46 Jamnagar Utilities & Power Private Limited CRISIL AAA 0.35
fixed income securities. Hindustan Unilever Limited Diversified FMCG 1.09 Mindspace Business Parks REIT CRISIL AAA 0.35
Bharat Heavy Electricals Limited Electrical Equipment 1.09 India Infradebt Limited CRISIL AAA 0.35
Date of Allotment Tata Steel Limited
Bayer Cropscience Limited
Ferrous Metals
Fertilizers &
0.77
0.24
State Bank of India
Power Grid Corporation of India Limited
CRISIL AAA
CRISIL AAA
0.27
0.14
November 15, 2004 Agrochemicals Poonawalla Fincorp Limited CRISIL AAA 0.07
Power Finance Corporation Limited Finance 0.99 Reliance Jio Infocomm Limited CRISIL AAA 0.07
Fund Manager(s) Bajaj Finance Limited
Sundaram Finance Limited
Finance
Finance
0.70
0.66
Bajaj Housing Finance Limited
Embassy Office Parks REIT
CRISIL AAA
CRISIL AAA
0.03
1.02
Amar Kalkundrikar (Managing Since Oct 2020) SBI Cards and Payment Services Limited Finance 0.36 HDFC Bank Limited CRISIL AAA 0.83
Indraprastha Gas Limited Gas 0.23 Power Finance Corporation Limited CRISIL AAA 0.75
Total Experience of more than 20 years Fortis Healthcare Limited Healthcare Services 0.67 Summit Digitel Infrastructure Limited CRISIL AAA 1.22
Ashutosh Bhargava (Managing Since May 2018) Apollo Hospitals Enterprise Limited Healthcare Services 0.30 National Bank For Agriculture and Rural Development CRISIL AAA/ICRA 0.45
Metropolis Healthcare Limited Healthcare Services 0.26 AAA
Total Experience of more than 18 years Jupiter Life Line Hospitals Limited Healthcare Services 0.03 Small Industries Dev Bank of India CRISIL AAA/ICRA 1.30
Cyient Limited IT - Services 0.46 AAA
Sushil Budhia (Managing Since Mar 2021) Affle (India) Limited IT - Services 0.30 Aadhar Housing Finance Limited FITCH AA 0.07
Total Experience of more than 22 years Infosys Limited* IT - Software 3.61 Godrej Properties Limited ICRA AA+ 0.69
HCL Technologies Limited IT - Software 0.68 Cholamandalam Investment and Finance Company ICRA AA+ 0.63
Benchmark Tata Consultancy Services Limited IT - Software 0.64 Ltd
Tech Mahindra Limited IT - Software 0.29 IDFC First Bank Limited ICRA AA+ 0.01
CRISIL Hybrid 50+50 - Moderate Index AIA Engineering Limited Industrial Products 0.47 Kirloskar Ferrous Industries Limited ICRA AA 0.48
SBI Life Insurance Company Limited Insurance 1.12 Union Bank of India ICRA AAA 0.34
Fund Size ICICI Lombard General Insurance Company Limited Insurance 0.74 Exchange Traded Funds
Max Financial Services Limited Insurance 0.43 Nippon India Mutual Fund 0.29
Monthly Average: ₹ 7,068.20 Cr. The Indian Hotels Company Limited Leisure Services 0.54 Floating Rate Note
Westlife Foodworld Limited Leisure Services 0.46 Shriram Finance Limited CRISIL AA+ 0.69
Month End: ₹ 7,193.76 Cr. Sapphire Foods India Limited Leisure Services 0.43 Government Bond
Godrej Consumer Products Limited Personal Products 1.17 Government of India SOV 8.15
NAV as on November 30, 2023 Reliance Industries Limited* Petroleum Products 2.55 InvIT
Sun Pharmaceutical Industries Limited* Pharmaceuticals & 1.32 Cube Highway Trust-InvIT Fund 1.09
Growth Plan ₹ 142.6589 Biotechnology PTC
IDCW Plan ₹ 30.1583 IPCA Laboratories Limited Pharmaceuticals & 0.56 Liquid Gold Series CRISIL AAA(SO) 0.40
Bonus Option ₹ 142.6589 Biotechnology Sansar Trust ICRA AAA(SO) 0.54
Gland Pharma Limited Pharmaceuticals & 0.52 REIT
Direct - Growth Plan ₹ 158.4837 Biotechnology Brookfield India Real Estate Trust 0.66
Direct - IDCW Plan ₹ 40.1220 JB Chemicals & Pharmaceuticals Limited Pharmaceuticals & 0.49 Reduced Face Value Bonds - Non Amortisation
Biotechnology U.P. Power Corporation Limited FITCH A+(CE) 0.06
Volatility Measures Lupin Limited Pharmaceuticals & 0.49 Andhra Pradesh State Beverages Corporation Limited FITCH AA(CE) 0.02
Biotechnology Piramal Capital & Housing Finance Limited ICRA AA 0.27
Standard Deviation 1.92 Pfizer Limited Pharmaceuticals & 0.40 State Government Bond
Beta 0.83 Biotechnology State Government Securities SOV 1.93
NTPC Limited* Power 2.30 Net Current Assets and Liabilities 3.65
Sharpe Ratio 0.22 Tata Power Company Limited Power 0.19 Grand Total 100.00
Avenue Supermarts Limited Retailing 1.31
Note: The above measures have been calculated using monthly rolling Zomato Limited Retailing 0.37 *Top 10 Holdings
returns for 36 months period with 6.9% risk free return (FBIL For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Overnight MIBOR as on 30/11/2023). Rating Profile Asset Allocation
Equity : 67.41%
Portfolio Turnover(Times) 3.36 Equity : 67.41% Corporate Bond : 15.19%
AAA/SOV/A1+/Cash & Other Government Bond : 8.15%
Average Maturity 4.88 Years Receivables : 24.32% Cash & Other Receivables : 3.65%
Modified Duration 3.44 Years AA+ : 3.62%
AA : 2.56%
State Government Bond : 1.93%
InvIT : 1.09%
Annualized portfolio YTM* 7.92% Invit : 1.09% PTC : 0.94%
Unrated : 0.66% Floating Rate Note : 0.69%
Macaulay Duration 3.61 Years ETF : 0.29% REIT : 0.66%
*In case of semi annual YTM, it has been A+/A/A-/A1 : 0.06% Exchange Traded Funds : 0.29%
annualised.
Total Expense Ratio^
Industry Allocation IDCW History
Regular/Other than Direct 1.77
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Direct 0.53 Banks 16.30%
IDCW Plan
Load structure IT - Software 6.12% 13-Nov-23 0.1700 29.7600 29.5900
Entry Load: Not Applicable 12-Oct-23 0.1700 29.7623 29.5923
Diversified FMCG 4.16%
Exit Load: 10% of the units allotted shall be redeemed without any exit load, 12-Sep-23 0.1700 29.9936 29.8236
Pharmaceuticals &
on or before completion of 12 months from the date of allotment of units. Any Biotechnology
4.14%
Direct - IDCW Plan
redemption in excess of such limit in the first 12 months from the date of Petroleum Products 3.00% 13-Nov-23 0.1700 39.5160 39.3460
allotment shall be subject to the following exit load. 12-Oct-23 0.1700 39.4196 39.2496
Redemption of units would be done on First in First out Basis (FIFO): Telecom - Services 2.89%
12-Sep-23 0.1700 39.6302 39.4602
1% if redeemed or switched out on or before completion of 12 months Power 2.88%
Past performance may or may not be sustained in future. Pursuant to IDCW
from the date of allotment of units. payment, NAV falls to the extent of payout & statutory levy (if applicable).
Finance 2.87%
Nil, thereafter. Face Value- ₹​10 .
Average Maturity, Modified Duration & YTM details provided for Debt portion of Insurance 2.66%
Portfolio only. AMFI Classification
Construction 2.43%
Product Label Fund Riskometer Benchmark Riskometer
Nippon India Balanced Advantage CRISIL Hybrid 50+50 - Moderate
This product is suitable for investors who are seeking*:
Fund Index
Long term capital growth
Investment in equity & equity related instruments, debt, money
market instruments and derivatives

Please refer page no. 119 for explanation on various symbols mentioned on *Investors should consult their financial advisors if in doubt about
the page whether the product is suitable for them.

38 December 2023 Fundamentals

Nippon India Equity Hybrid Fund (Number of Segregated Portfolios- 2)
Aggressive Hybrid Fund Portfolio as on November 30, 2023
Company / Issuer Rating % of Assets Company / Issuer Rating % of Assets
Details as on November 30, 2023 Equity Power Finance Corporation Limited CRISIL AAA 1.57
Automobiles Summit Digitel Infrastructure Limited (BROOKFIELD
CRISIL AAA 1.55
Type of Scheme Tata Motors Limited 1.55 GROUP)
Mahindra & Mahindra Limited 1.46 ICRA AA/CARE
Piramal Capital & Housing Finance Limited 1.30
An open ended hybrid scheme investing predominantly in equity and Maruti Suzuki India Limited 1.34 AA
TVS Motor Company Limited 1.23 JSW Steel Limited CARE AA 1.26
equity related instruments. Banks Torrent Power Limited (Torrent group) CRISIL AA+ 0.95
HDFC Bank Limited* 6.58 Manappuram Finance Limited CRISIL AA 0.95
Current Investment Philosophy ICICI Bank Limited* 4.65 Mahanagar Telephone Nigam Limited CARE AAA(CE) 0.81
The fund endeavors to generate relatively better risk adjusted returns by Axis Bank Limited* 3.18 The Federal Bank Limited FITCH AA 0.79
State Bank of India 1.97 Titan Company Limited CRISIL AAA 0.79
investing in a combination of Equities and Fixed Income instruments. The Capital Markets Jamnagar Utilities & Power Private Limited (Mukesh CRISIL AAA 0.79
fund attempts to optimize the benefit of equity growth potential with Angel One Limited 1.38 Ambani Group)
Construction Mindspace Business Parks REIT (K RAHEJA CORP
relative stability of fixed income investments. On the equity space the Larsen & Toubro Limited* 4.05 GROUP)
CRISIL AAA 0.79
fund aims to maintains a large cap oriented portfolio with a tactical Diversified FMCG Godrej Properties Limited ICRA AA+ 0.79
exposure to emerging leaders to generate alpha. The fixed income ITC Limited* 2.69 National Bank For Agriculture and Rural Development ICRA AAA 0.78
Hindustan Unilever Limited 2.03 Reliance General Insuarance Company Ltd CARE A 0.63
strategy is focused on generating higher accrual through investments in Ferrous Metals Small Industries Dev Bank of India CRISIL AAA 0.48
high quality instruments with a moderate duration. Jindal Steel & Power Limited 1.45 India Infradebt Limited (India Infradebt Limited) CRISIL AAA 0.47
Tata Steel Limited 1.04 LIC Housing Finance Limited CRISIL AAA 0.32
Date of Allotment IT - Software
Infosys Limited* 4.98
Bharti Hexacom Limited
Tata Sons Private Ltd
CRISIL AA+
CRISIL AAA
0.31
0.01
June 08, 2005 HCL Technologies Limited 1.13 Government Bond 3.68
Insurance Government of India SOV 3.68
Fund Manager(s) SBI Life Insurance Company Limited 1.09 Equity Less Than 1% of Corpus 19.87
Petroleum Products Cash & Other Receivables 1.87
Sushil Budhia (Managing Since Feb 2020) Reliance Industries Limited* 4.13
Pharmaceuticals & Biotechnology Grand Total 100.00
Total Experience of more than 22 years Sun Pharmaceutical Industries Limited* 3.26
*Top 10 Holdings
Meenakshi Dawar (Managing Since Sep 2021) Power
NTPC Limited* 2.44
Total Experience of more than 14 years Telecom - Services Segregated Portfolio 1 as on November 30, 2023
Bharti Airtel Limited* 2.48 Company / Issuer Rating % of Assets
Benchmark Invit
Debt
Invit 0.87
CRISIL Hybrid 35+65 - Aggressive Index Cube Highway Trust-InvIT Fund 0.87 Corporate Bond 92.69
Ptc Reliance Capital Limited CARE D 92.69
Fund Size Main Portfolio Segregated Portfolio 1/2 PTC 0.61 Cash & Other Receivables 7.31
Liquid Gold Series CRISIL AAA(SO) 0.61
Monthly Average: ₹ 3,080.98 Cr. 9.33 Cr./0.00 Cr. Debt Grand Total 100.00
Corporate Bond 18.99
Month End: ₹ 3,156.14 Cr. 9.33 Cr./0.00 Cr. HDFC Bank Limited Basel III CRISIL AAA 2.06 Segregated Portfolio 2 as on November 30, 2023
Bharti Telecom Limited CRISIL AA+ 1.58
NAV as on November 30, 2023 Company / Issuer Rating % of Assets
Main Portfolio Segregated Portfolio 1/2 Debt
Corporate Bond 0.00
Growth Plan ₹ 82.7075 ₹ 0.0518/0.0000 Yes Bank Limited BASEL III ICRA D 0.00
IDCW Plan ₹ 23.8914 ₹ 0.0159/0.0000 Cash & Other Receivables 100.00
Monthly IDCW Plan ₹ 14.8288 ₹ 0.0099/0.0000 Grand Total 100.00
Quarterly IDCW Plan ₹ 20.3091 ₹ 0.0137/0.0000 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Growth Plan ₹ 91.9733 ₹ 0.0558/0.0000
Direct - IDCW Plan ₹ 32.5235 ₹ 0.0206/0.0000 Rating Profile (Main Portfolio) Asset Allocation (Main Portfolio)
Direct - Monthly IDCW Plan ₹ 16.0869 ₹ 0.0104/0.0000
Direct - Quarterly IDCW Plan ₹ 22.2215 ₹ 0.0142/0.0000 Equity : 73.99% Equity : 73.99%
Volatility Measures AAA/SOV/A1+/Cash & Other
Receivables : 16.57%
Corporate Bond : 18.99%
Government Bond : 3.68%
Standard Deviation 2.95 AA : 4.30% Cash & Other Receivables : 1.87%
AA+ : 3.63% InvIT : 0.87%
Beta 1.02 Invit : 0.87% PTC : 0.61%
Sharpe Ratio 0.33 A+/A/A-/A1 : 0.63%

Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Industry Allocation (Main Portfolio) IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Portfolio Turnover(Times) 0.41 Banks 16.84% IDCW Plan
Average Maturity 4.73 Years IT - Software 7.43%
17-Feb-23 1.2500 21.3692 20.1192
29-Mar-19 0.0974 17.1122 17.0022
Modified Duration 3.40 Years 25-Sep-18 0.1328 16.9593 16.8093
Automobiles 5.58% Direct - IDCW Plan
Annualized portfolio YTM* 8.51% 17-Feb-23 1.2500 28.4755 27.2255
Pharmaceuticals & 29-Mar-19 0.0974 22.0794 21.9694
Macaulay Duration 3.60 Years Biotechnology
4.85%
25-Sep-18 0.1328 21.7309 21.5809
*In case of semi annual YTM, it has been Diversified FMCG 4.72% Monthly IDCW Plan
17-Feb-23 0.7500 13.2375 12.4875
annualised. Petroleum Products
15-Nov-19 0.0620 10.3260 10.2560
4.54% 15-Apr-19 0.0620 10.7027 10.6327
Total Expense Ratio^ Construction 4.05%
Direct - Monthly IDCW Plan
17-Feb-23 0.7500 14.2164 13.4664
Main Segregated Portfolio 1/2 15-Nov-19 0.0620 10.8103 10.7403
Power 2.87% 15-Apr-19 0.0620 11.1552 11.0852
Regular/Other than Direct 2.02 -- Quarterly IDCW Plan
Ferrous Metals 2.49% 17-Feb-23 1.2500 18.3524 17.1024
Direct 1.25 -- AMFI Classification 29-Mar-19 0.0974 14.7123 14.6023
Telecom - Services 2.48% 17-Sep-18 0.3542 15.1844 14.7844
Load structure Direct - Quarterly IDCW Plan
17-Feb-23 1.2500 19.8516 18.6016
Entry Load: Not Applicable 29-Mar-19 0.0974 15.2791 15.1691
Exit Load: 10% of the units allotted shall be redeemed without any exit load, on or before 17-Sep-18 0.3542 15.6726 15.2726
completion of 12 months from the date of allotment of units. Past performance may or may not be sustained in future. Pursuant to IDCW
Any redemption in excess of such limit in the first 12 months from the date of allotment payment, NAV falls to the extent of payout & statutory levy (if applicable). Face Value-
₹10 .
shall be subject to the following exit load, Redemption of units would be done on First in
First out Basis (FIFO):
1% if redeemed or switched out on or before completion of 12 months from the date
of allotment of units.
Nil, thereafter.
Not applicable for Segregated Portfolio
Average Maturity, Modified Duration & YTM details provided for Debt portion of Portfolio
only.
Segregated Portfolio 1
Due to credit event (Default of debt servicing by Reliance Capital Limited (RCL) on
September 20, 2019), securities of RCL have been segregated from the scheme’s
portfolio w.e.f. September 25, 2019.
Segregated Portfolio 2 Product Label Fund Riskometer Benchmark Riskometer
Yes Bank Limited has been segregated from the scheme’s portfolio due to rating
Nippon India Equity Hybrid Fund (Number of CRISIL Hybrid 35+65 - Aggressive
downgrade by ICRA to “D” on March 6, 2020. This product is suitable for investors who are seeking*:
Segregated Portfolios- 2) Index
Kindly refer to SID/KIM for complete details on segregation of portfolio Long term capital growth
Investment in equity and equity related instruments and
fixed income instruments

Please refer page no. 119 for explanation on various symbols mentioned on *Investors should consult their financial advisors if in doubt
the page about whether the product is suitable for them.

Fundamentals December 2023 39

Nippon India Equity Savings Fund (Number of Segregated Portfolios- 2)
Equity Savings Portfolio as on November 30, 2023
Issuer / Instrument Industry / Rating % of Assets Issuer / Instrument Industry / Rating% of Assets
Details as on November 30, 2023 Equity Debt
Tata Motors Limited Automobiles 0.88 Corporate Bonds
Type of Scheme Maruti Suzuki India Limited
HDFC Bank Limited*
Automobiles
Banks
0.33
2.08
Manappuram Finance Limited
Small Industries Dev Bank of India
CRISIL AA
CRISIL AAA
1.55
1.56
An open ended scheme investing in equity, arbitrage and debt. Axis Bank Limited* Banks 1.34 HDFC Bank Limited CRISIL AAA 1.55
ICICI Bank Limited* Banks 1.25 REC Limited CRISIL AAA 1.54
Current Investment Philosophy State Bank of India* Banks
Cement & Cement
0.97 Government Bond
Government of India SOV 13.83
Grasim Industries Limited* 1.12
The fund seeks to invest in combination of Active Equities, Arbitrage Products Net Current Assets and Liabilities 7.28
Opportunities and Fixed Income Securities. The fund endeavors to Larsen & Toubro Limited* Construction 1.35 Grand Total 100.00
Coal India Limited Consumable Fuels 0.85
capture the equity growth potential along with moderate volatility & ITC Limited Diversified FMCG 0.88 *Top 10 Holdings
regular income through investment in arbitrage opportunities and fixed Hindustan Unilever Limited Diversified FMCG 0.71
Segregated Portfolio 1 as on November 30, 2023
Jindal Steel & Power Limited Ferrous Metals 0.42
income securities. The fund attempts to provide higher growth potential Tata Steel Limited Ferrous Metals 0.40
than debt funds due to moderate equity exposure and relatively lower LIC Housing Finance Limited Finance 0.92
Issuer / Instrument Industry / Rating % of Assets
volatility than equity funds through allocation to fixed income instruments Jio Financial Services Limited Finance 0.09 Debt
Jupiter Life Line Hospitals Limited Healthcare Services 0.90 Corporate Bond 92.69
& arbitrage opportunities. Infosys Limited* IT - Software 0.95
Tata Consultancy Services Limited IT - Software 0.85 Reliance Capital Limited CARE D 92.69
Date of Allotment Tech Mahindra Limited IT - Software 0.27
Cash & Other Receivables 7.31
HCL Technologies Limited IT - Software 0.14
May 30, 2015 HDFC Life Insurance Company Limited Insurance 0.64 Grand Total 100.00
Max Financial Services Limited Insurance 0.51
Fund Manager(s) NMDC Limited Minerals & Mining 0.56
Segregated Portfolio 2 as on November 30, 2023
Reliance Industries Limited* Petroleum Products 0.96
Dhrumil Shah (Co-Fund Manager) (Managing Since Sep 2021) Sun Pharmaceutical Industries Limited
Pharmaceuticals &
0.80 Issuer / Instrument Industry / Rating % of Assets
Biotechnology
Total Experience of more than 17 years NTPC Limited Power 0.65 Debt
Anand Gupta(Managing Since Sep 2018) Aditya Birla Fashion and Retail Limited* Retailing 1.08 Corporate Bond 0.00
Bharti Airtel Limited* Telecom - Services 1.25
Total Experience of more than 30 years Non-Hedge Total 23.16 Yes Bank Limited BASEL III ICRA D 0.00
Sushil Budhia (Managing Since Feb 2020) Hedge Total 49.53
Cash & Other Receivables 100.00
Total Experience of more than 22 years Grand Total 100.00
Benchmark
SIP - If you invested ₹ 10000 every month
Nifty Equity Savings Index Since Inception 5 Years 3 Years 1 Year
Fund Size Main Portfolio Segregated Portfolio 1/2 Total Amount Invested (₹) 1,030,000 600,000 360,000 120,000
Market Value (₹) 1,241,586 705,485 405,998 126,572
Monthly Average: ₹ 318.24 Cr. 25.81 Cr./0.00 Cr.
Scheme Return (%) 4.30 6.48 8.11 10.84
Month End: ₹ 321.31 Cr. 25.81 Cr./0.00 Cr. B: Nifty Equity Savings Index Return (%) 9.18 9.46 8.33 10.92
AB: Crisil 10 Yr Gilt Index Return (%) 5.34 4.46 4.30 5.93
NAV as on November 30, 2023 Inception Date:May 30, 2015
Main Portfolio Segregated Portfolio 1/2 It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first installment in the Growth option of the
Past performance may or may not be sustained in future.
Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting out of uniform and regular monthly subscriptions have been
Growth Plan ₹ 14.0014 ₹ 0.2885/0.0000 worked out on excel spreadsheet function known as XIRR. Load has not been taken into consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
IDCW Plan ₹ 11.9940 ₹ 0.2471/0.0000 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent index stocks, thereby
Monthly IDCW Plan ₹ 11.8310 ₹ 0.2437/0.0000 showing a true picture of returns.
The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer SID/KIM of the Scheme.
Quarterly IDCW Plan ₹ 11.8229 ₹ 0.2436/0.0000 Segregated Portfolio 1 - The total impact on the NAV is 0.25%. Out of this, 0.15% is due to the credit event and 0.10% is due to segregation decision post the credit event
(accordingly for this 0.10%, new units have been allotted and is reflected in the segregated portfolio).
Bonus Option ₹ 14.0014 ₹ 0.2885/0.0000 Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March 5,2020.
Direct - Growth Plan ₹ 15.1836 ₹ 0.3021/0.0000 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - IDCW Plan ₹ 13.0886 ₹ 0.2604/0.0000 Rating Profile (Main Portfolio) Asset Allocation (Main Portfolio)
Direct - Monthly IDCW Plan ₹ 12.8998 ₹ 0.2566/0.0000
Direct - Quarterly IDCW Plan ₹ 12.8875 ₹ 0.2564/0.0000
Direct - Bonus Option ₹ 15.1836 ₹ 0.3021/0.0000
Equity : 72.69% Equity : 72.69%
Volatility Measures AAA/SOV/A1+/Cash & Other Government Bond : 13.83%
Receivables : 25.76% Cash & Other Receivables : 7.28%
Standard Deviation 1.42 AA : 1.55% Corporate Bond : 6.20%
Beta 0.86
Sharpe Ratio 0.14
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023). Industry Allocation (Main Portfolio) IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Portfolio Turnover(Times) 6.15 Banks 14.73% IDCW Plan
25-Mar-19 0.7083 11.6927 10.8927
Average Maturity 4.61 Years Construction 7.22% 26-Mar-18 1.0000 12.4426 11.4426
Direct - IDCW Plan
Modified Duration 3.40 Years Cement & Cement
Products
6.78% 25-Mar-19 0.7083 12.2318 11.4318
Annualized portfolio YTM* 7.44% Diversified FMCG 6.19%
26-Mar-18 1.0000 12.8542 11.8542
Monthly IDCW Plan
Macaulay Duration 3.54 Years 22-Apr-19 0.0708 10.7987 10.7187
IT - Software 5.67% 25-Mar-19 0.0708 10.9047 10.8247
*In case of semi annual YTM, it has been 24-Sep-18 0.0708 10.8897 10.8097
annualised. Consumable Fuels 5.32%
Direct - Monthly IDCW Plan
22-Apr-19 0.0708 11.3268 11.2468
Total Expense Ratio^ Petroleum Products 4.18%
25-Mar-19 0.0708 11.4257 11.3457
24-Sep-18 0.0708 11.3551 11.2751
Main Segregated Portfolio 1/2 Automobiles 4.13%
Quarterly IDCW Plan
25-Mar-19 0.0708 10.8166 10.7366
Regular/Other than Direct 1.65 -- Ferrous Metals 3.81%
19-Sep-18 0.2214 11.0439 10.7939
AMFI Classification
Direct 0.77 -- Power 3.53% 19-Jun-18 0.2214 11.1908 10.9408
Direct - Quarterly IDCW Plan
Load structure 25-Mar-19 0.0708 11.3350 11.2550
Entry Load: Not Applicable 19-Sep-18 0.2214 11.5089 11.2589
Exit Load: 10% of the units allotted shall be redeemed without any exit load, on or before 19-Jun-18 0.2214 11.6260 11.3760
completion of 1 month from the date of allotment of units. Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV
falls to the extent of payout & statutory levy (if applicable). Face Value- ₹​10 .
Any redemption in excess of such limit within 1 month from the date of allotment shall be
subject to the following exit load, Redemption of units would be done on First in First out
Basis (FIFO):
1% if redeemed or switched out on or before completion of 1 month from the date of
allotment of units.
Nil, thereafter.
Not applicable for Segregated Portfolio
Average Maturity, Modified Duration & YTM details provided for Debt portion of Portfolio
only.
Segregated Portfolio 1 Product Label Fund Riskometer Benchmark Riskometer
Due to credit event (Default of debt servicing by Reliance Capital Limited (RCL) on
September 20, 2019), securities of RCL have been segregated from the scheme’s Nippon India Equity Savings Fund (Number of Nifty Equity Savings Index
This product is suitable for investors who are seeking*:
portfolio w.e.f. September 25, 2019. Segregated Portfolios- 2)
Segregated Portfolio 2 Income and capital appreciation over long term
Yes Bank Limited has been segregated from the scheme’s portfolio due to rating Investment predominantly in arbitrage opportunities
downgrade by ICRA to “D” on March 6, 2020. between cash & derivative market and in unhedged equity
Kindly refer to SID/KIM for complete details on segregation of portfolio

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on the page about whether the product is suitable for them.

40 December 2023 Fundamentals

Nippon India Arbitrage Fund
Arbitrage Fund Portfolio as on November 30, 2023
Company / Issuer Rating % of Assets Company / Issuer Rating % of Assets
Details as on November 30, 2023 Equity NTPC Limited 1.39
Automobiles Telecom - Services
Type of Scheme Tata Motors Limited 1.04 Vodafone Idea Limited* 2.40
An open ended scheme investing in arbitrage opportunities. Banks Transport Infrastructure
HDFC Bank Limited* 4.47 Adani Ports and Special Economic Zone 3.46
Current Investment Philosophy ICICI Bank Limited* 2.40 Limited*
A conservative arbitrage fund that aims to generate income through Kotak Mahindra Bank Limited* 1.56 Debt
arbitrage opportunities arising out of pricing mismatch in a security Canara Bank 1.19 Commercial Paper 6.34
Bandhan Bank Limited 1.11 HDFC Bank Limited CRISIL A1+ 2.65
between cash and derivative segment and with derivatives segment Cement & Cement Products Kotak Securities Limited ICRA A1+ 2.05
along with investments in debt securities and money market instruments. Ambuja Cements Limited* 1.73 ICICI Securities Limited CRISIL A1+ 1.23
The fund portfolio is completely hedged and takes offsetting positions on Grasim Industries Limited* 1.73 Axis Finance Limited CRISIL A1+ 0.41
various markets simultaneously. The arbitrage fund follows a market Entertainment Corporate Bond 1.66
neutral strategy and carries no specific equity risk. In the absence of Zee Entertainment Enterprises Limited* 1.74 National Bank For Agriculture and Rural CRISIL AAA 1.04
Finance Development
adequate arbitrage opportunities, the scheme may invest in short term Small Industries Dev Bank of India ICRA AAA 0.41
Shriram Finance Limited 1.05
debt or money market securities. Metals & Minerals Trading Power Finance Corporation Limited CRISIL AAA 0.21
Adani Enterprises Limited* 1.39 Government Bond 0.06
Date of Allotment Mutual Fund units 17.56 Government of India SOV 0.06
October 14, 2010 Nippon India Mutual Fund 17.56 Treasury Bill 0.04
Petroleum Products Government of India SOV 0.04
Fund Manager(s) Reliance Industries Limited* 3.14 Zero Coupon Bond 0.55
Anand Gupta (Managing Since Sep 2018) Hindustan Petroleum Corporation Limited 1.23 Kotak Mahindra Investments Limited CRISIL AAA 0.55
Pharmaceuticals & Biotechnology Equity Less Than 1% of Corpus 38.81
Total Experience of more than 30 years Aurobindo Pharma Limited 1.32 Derivatives, Cash and Other Receivables 2.62
Anju Chhajer (Managing Since Feb 2020) Power Grand Total 100.00
Total Experience of more than 27 years
*Top 10 Holdings
Benchmark
Nifty 50 Arbitrage Index SIP - If you invested ₹ 10000 every month
Fund Size Since Inception 10 Years 5 Years 3 Years 1 Year
Monthly Average: ₹ 11,715.97 Cr. Total Amount Invested (₹) 1,580,000 1,200,000 600,000 360,000 120,000
Month End: ₹ 11,945.48 Cr.
Market Value (₹) 2,378,787 1,586,602 681,407 391,326 124,254
NAV as on November 30, 2023 Scheme Return (%) 6.00 5.48 5.08 5.59 6.98
Growth Plan ₹ 23.7617
IDCW Plan ₹ 14.2402 B: Nifty 50 Arbitrage Index Return (%) 5.60 5.18 5.23 6.09 8.01
Monthly IDCW Plan ₹ 12.3855 AB: Crisil 1 Yr T-Bill Index Return (%) 6.19 5.89 5.25 5.53 7.02
Direct - Growth Plan ₹ 25.3980
Inception Date:October 14, 2010
Direct - IDCW Plan ₹ 15.6375
Direct - Monthly IDCW Plan ₹ 13.2931 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Volatility Measures out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Standard Deviation 0.17 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Beta 0.63 index stocks, thereby showing a true picture of returns.
Sharpe Ratio -1.05 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL Industry Allocation IDCW History
Overnight MIBOR as on 30/11/2023). Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Banks 14.05% IDCW Plan
Portfolio Turnover(Times) 13.08 Finance 5.89%
20-Oct-20 0.1400 12.4381 12.2981
22-Jun-20 0.1500 12.4616 12.3116
Total Expense Ratio^ Petroleum Products 5.00% 23-Mar-20 0.1328 12.4154 12.2654
Direct - IDCW Plan
Regular/Other than Direct 1.08 Cement & Cement
4.65%
Products 20-Oct-20 0.1400 13.3409 13.2009
Direct 0.39 Transport 22-Jun-20 0.1500 13.3255 13.1755
3.68%
Infrastructure
Load structure Pharmaceuticals &
3.68%
23-Mar-20 0.1328 13.2393 13.0893
Biotechnology Monthly IDCW Plan
Entry Load: Not Applicable 23-Nov-20 0.0500 10.7758 10.7258
Telecom - Services 3.22%
Exit Load: 0.25% if redeemed or switched out on or before completion of 1 20-Oct-20 0.0600 10.8064 10.7464
month from the date of allotment of units. Power 2.40% 24-Aug-20 0.0300 10.7745 10.7445
Nil, thereafter. Direct - Monthly IDCW Plan
Entertainment 2.28%
23-Nov-20 0.0500 11.3101 11.2601
AMFI Classification
IT - Software 2.25% 20-Oct-20 0.0600 11.3322 11.2722
24-Aug-20 0.0300 11.2855 11.2555
Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
Face Value- ₹​10 .

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Arbitrage Fund Nifty 50 Arbitrage Index
Income over short term
Income through arbitrage opportunities between cash and derivative market
and arbitrage opportunities within the derivative segment

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on product is suitable for them.
the page

Fundamentals December 2023 41

Nippon India Hybrid Bond Fund (Number of Segregated Portfolios - 2)
Conservative Hybrid Fund Portfolio as on November 30, 2023
Company / Issuer Rating % of Assets Company / Issuer Rating % of Assets
Details as on November 30, 2023 Debt Profectus Capital Private Limited (Profectus CRISIL A- 1.62
Commercial Paper 3.15 Capital Group)
Type of Scheme Trust Investment Advisors Private Limited CARE A1+ 3.15 Government Bond 6.42
An open ended hybrid scheme investing predominantly in debt (TRUST GROUP) Government of India SOV 6.42
Corporate Bond 65.52 Equity
instruments.
National Bank For Agriculture and Rural CRISIL AAA 6.40 Banks
Current Investment Philosophy Development HDFC Bank Limited* 1.62
The fund will run a 90% accrual and equity exposure of 10% to create REC Limited CRISIL AAA 5.74 Corporate Debt Market Development Fund 0.23
Piramal Capital & Housing Finance Limited ICRA AA 4.47 Corporate Debt Market Development Fund 0.23
alpha with lower volatility. U.P. Power Corporation Limited (U.P. State CRISIL A+(CE) 3.46 Class A2
Fixed Income: PSU (Structured escrow mechanism for Petroleum Products
- Accrual strategy with moderate MTM volatility (Duration: 2 - 3 years). payments & Guarantee by government of Reliance Industries Limited* 1.14
- Investment into well researched credits primarily in AA & below rated Uttar Pradesh)) Invit
Spandana Sphoorty Financial Limited FITCH A 3.24 Invit 0.44
papers. Small Industries Dev Bank of India CRISIL AAA 3.22
Equity Strategy: IRB InvIT Fund 0.44
JSW Steel Limited CARE AA 3.21
Equity Less Than 1% of Corpus 9.49
- Investment into equities with a long term view. Godrej Properties Limited ICRA AA+ 3.20
IndoStar Capital Finance Limited CRISIL AA- 3.19 Cash & Other Receivables 6.73
Date of Allotment TATA Realty & Infrastructure Limited ICRA AA+ 3.19 Grand Total 100.00
Century Textiles & Industries Limited CRISIL AA 3.19
December 29, 2003 Greenlam Industries Limited (GREENLAM ICRA AA- 3.16 *Top 10 Holdings
GROUP) Segregated Portfolio 2 as on November 30, 2023
Fund Manager(s) Summit Digitel Infrastructure Limited CRISIL AAA 3.11
Sushil Budhia (Managing Since Feb 2020) (BROOKFIELD GROUP) Company / Issuer Rating % of Assets
Vivriti Capital Private Limited (VIVRITI) ICRA A/ICRA A 2.94 Debt
Total Experience of more than 22 years Andhra Pradesh State Beverages FITCH AA(CE) 2.85 Corporate Bond 0.00
Dhrumil Shah (Co-Fund Manager) (Managing Since Sep 2021) Corporation Limited (A.P.State PSU
(Structured escrow mechanism for payments Yes Bank Limited BASEL III ICRA D 0.00
Total Experience of more than 17 years
& Guarantee by government of Andhra Cash & Other Receivables 100.00
Benchmark Pradesh))
Grand Total 100.00
Renew Services Private Limited CARE A+(CE) 2.70
Crisil Hybrid 85+15 - Conservative Index Asirvad Microfinance Ltd (Manappuram CRISIL AA- 1.30
Group)
Fund Size Main Portfolio Segregated Portfolio 2 Nirma Limited CRISIL AA 1.29
Monthly Average: ₹ 773.85 Cr. 0.00 Cr. SMFG India Home Finance Company CARE AAA 1.29
Limited
Month End: ₹ 776.54 Cr. 0.00 Cr. ONGC Petro Additions Limited ICRA AA 1.28
SK Finance Limited (SK Finance Group CARE AA- 1.23
NAV as on November 30, 2023 (Backed by pool of receivables assigned by
Main Portfolio Segregated Portfolio 2 SK Finance))
India Shelter Finance Corporation Limited ICRA A+ 0.76
Growth Plan ₹ 50.1411 ₹ 0.0000 (INDIA SHELTER FINANCE GROUP)
Monthly IDCW Plan ₹ 10.6974 ₹ 0.0000 Profectus Capital Private Limited (Profectus CRISIL A- 0.64
Quarterly IDCW Plan ₹ 12.0501 ₹ 0.0000 Capital Group)
Direct - Growth Plan ₹ 54.7055 ₹ 0.0000 Bharat Sanchar Nigam Limited CRISIL AAA(CE) 0.49
Britannia Industries Limited CRISIL AAA 0.00
Direct - Monthly IDCW Plan ₹ 11.6023 ₹ 0.0000 Floating Rate Note 5.25
Direct - Quarterly IDCW Plan ₹ 12.6717 ₹ 0.0000 Macrotech Developers Limited ICRA A+ 3.63
Average Maturity 1.95 Years For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Modified Duration 1.64 Years
Annualized portfolio YTM* 8.94% Rating Profile Asset Allocation
Macaulay Duration 1.73 Years AAA/SOV/A1+/Cash & Other Corporate Bond : 65.52%
*In case of semi annual YTM, it has been Receivables : 36.55% Equity : 12.26%
A+/A/A-/A1 : 18.98% Cash & Other Receivables : 6.73%
annualised. AA : 16.28% Government Bond : 6.42%
Floating Rate Note : 5.25%
Total Expense Ratio^ Equity : 12.26%
AA- : 8.87% Commercial Paper : 3.15%
AA+ : 6.39% InvIT : 0.44%
Main Segregated Portfolio 2 Invit : 0.44% Corporate Debt Market
Unrated : 0.23% Development Fund : 0.23%
Regular/Other than Direct 1.94 --
Direct 1.14 --
Load structure
Entry Load: Not Applicable Industry Allocation IDCW History
Exit Load: 10% of the units allotted shall be redeemed without any exit load, Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
on or before completion of 12 months from the date of allotment of units. Banks 3.73% Monthly IDCW Plan
Any redemption in excess of such limit in the first 12 months from the date of 20-Nov-23 0.0819 10.7439 10.6620
IT - Software 1.63%
allotment shall be subject to the following exit load. Redemption of units 20-Oct-23 0.0205 10.6799 10.6594
would be done on First in First out Basis (FIFO): Petroleum Products 1.20% 20-Sep-23 0.0899 10.7622 10.6723
1% if redeemed or switched out on or before completion of 12 months Direct - Monthly IDCW Plan
Automobiles 0.86%
20-Nov-23 0.0959 11.6576 11.5617
from the date of allotment of units.
0.86% 20-Oct-23 0.0296 11.5881 11.5585
Nil, if redeemed or switched out after completion of 12 months from the Diversified FMCG
20-Sep-23 0.1049 11.6767 11.5718
date of allotment of units. Construction 0.53% Quarterly IDCW Plan
Not applicable for Segregated Portfolio Pharmaceuticals & 21-Sep-23 0.2396 12.1459 11.9063
0.45%
Average Maturity, Modified Duration & YTM details provided for Debt portion of Biotechnology 15-Jun-23 0.5263 12.4277 11.9014
Portfolio only. Finance 0.41% 16-Mar-23 0.0762 11.9549 11.8787
Segregated Portfolio 1 Direct - Quarterly IDCW Plan
Consumer Durables 0.40%
Vodafone Idea Limited was segregated from the scheme’s portfolio due to AMFI Classification
21-Sep-23 0.2760 12.7777 12.5017
some adverse developments and rating downgrade by CARE to BB- on Feb 17, Telecom - Services 0.35% 15-Jun-23 0.5869 13.0806 12.4937
16-Mar-23 0.0994 12.5660 12.4666
2020 and the Impact of segregation on NAV was negative (3.33%). Interest
payment of Rs 9.31 Cr was received on June 12, 2020 which was distributed Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
between the investor in proportion to their holding. Further entire due amount Face Value- ₹​10 .
of Rs 113.61 Cr (Face Value + Interest) was received on July 10, 2020,
subsequent to that all the units in the segregated portfolio were redeemed
and the portfolio was closed, the investors were duly paid in the proportion to
their holding.
Segregated Portfolio 2
Yes Bank Limited has been segregated from the scheme’s portfolio due to Product Label Fund Riskometer Benchmark Riskometer
rating downgrade by ICRA to “D” on March 6, 2020. Nippon India Hybrid Bond Fund (Number of Crisil Hybrid 85+15 - Conservative
This product is suitable for investors who are seeking*:
Segregated Portfolios - 2) Index
Kindly refer to SID/KIM for complete details on segregation of portfolio Regular income and capital growth over long term
Investment in debt & money market instruments and
equities & equity related securities

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on about whether the product is suitable for them.
the page

42 December 2023 Fundamentals

Nippon India Multi Asset Fund
Multi Asset Allocation Portfolio as on November 30, 2023

Details as on November 30, 2023 Company / Issuer Rating % of Assets Company / Issuer Rating % of Assets
Type of Scheme Equity & International Equity Aerospace & Defense
An open ended scheme investing in Equity, Debt and Exchange Banks Hindustan Aeronautics Limited 1.06
Traded Commodity Derivatives and Gold ETF. HDFC Bank Limited* 3.97 International Exchange Traded Funds
Current Investment Philosophy ICICI Bank Limited* 2.57 iShares MSCI World ETF 17.39
The fund invests in a combination of Equity, Debt, International Equity and State Bank of India 1.23 Commodity
Gold ETF/ Exchange Traded Commodity Derivatives (ETCD) and other Finance Nippon India ETF Gold Bees 12.25
ETCDs as permitted by SEBI from time to time. Since these asset classes
are weakly/ negatively co-related and tend to perform at different periods Power Finance Corporation Limited* 1.59 Commodity Future 2.01
of time, the fund seeks to benefit from portfolio diversification. Given that REC Limited 1.02 SILVER 1.12
asset allocation is the key to wealth creation, this fund would be an ideal Insurance CRUDEOIL 0.89
offering for investors seeking a one stop solution to reap the benefit of
Max Financial Services Limited 1.03 Debt
Growth of Equity, Stability of Debt & Diversification from Commodities.
Petroleum Products Corporate Bond 6.09
Date of Allotment
Reliance Industries Limited* 2.35 CRISIL
August 28, 2020 Titan Company Limited 1.24
Power AAA
Fund Manager(s) NTPC Limited* 1.54 CRISIL
Power Finance Corporation Limited 1.23
Sushil Budhia (Managing Since Mar 2021) AAA
Diversified FMCG
Total Experience of more than 22 years National Bank For Agriculture and CRISIL
ITC Limited* 1.94 1.23
Ashutosh Bhargava (Managing Since August 2020) Rural Development AAA
Total Experience of more than 18 years IT - Software CRISIL
HDFC Bank Limited 1.20
Vikram Dhawan (Managing Since August 2020) Infosys Limited* 1.58 AAA
Total Experience of more than 28 years Tata Consultancy Services Limited* 1.55 CRISIL
REC Limited 0.95
Kinjal Desai (Managing Since August 2020) Construction AAA
Total Experience of more than 10 years Larsen & Toubro Limited* 1.54 CRISIL
State Bank of India Basel III 0.24
Tejas Sheth (Co-Fund Manager) (Managing Since Oct 2020) AAA
Automobiles
Total Experience of more than 18 years Government Bond 8.56
Akshay Sharma (Managing Since Dec 2022) Tata Motors Limited* 1.92
Government of India SOV 8.56
Total Experience of more than 7 years
Equity Less Than 1% of Corpus 26.90
Benchmark
Cash & Other Receivables 1.90
50% of S&P BSE 500 TRI, 20% of MSCI World Index TRI, 15% of Crisil
Short Term Bond Index & 15% of Domestic prices of Gold Grand Total 100.00
Fund Size *Top 10 Holdings

Monthly Average: ₹ 1,906.17 Cr. SIP - If you invested ₹ 10000 every month
Month End: ₹ 2,020.43 Cr.
Since Inception 3 Years 1 Year
NAV as on November 30, 2023
Total Amount Invested (₹) 400,000 360,000 120,000
Growth Plan ₹ 16.0121
IDCW Plan ₹ 16.0121 Market Value (₹) 505,299 441,365 133,749
Direct - Growth Plan ₹ 16.7827 Scheme Return (%) 14.37 13.93 23.09
Direct - IDCW Plan ₹ 16.7827
B: 50% of S&P BSE 500 TRI, 20% of MSCI World Index TRI, 15% of Crisil Short Term Bond
Volatility Measures Index & 15% of Domestic prices of Gold Return (%)
13.73 13.06 20.06
Standard Deviation 2.47 AB: S&P BSE Sensex TRI Return (%) 13.55 12.04 14.70
Beta 0.89
Sharpe Ratio 0.25 Inception Date:August 28, 2020
Note: The above measures have been calculated using monthly rolling Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
returns for 36 months period with 6.9% risk free return (FBIL out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Overnight MIBOR as on 30/11/2023). B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Portfolio Turnover(Times) 0.62 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Average Maturity 3.16 Years
Modified Duration Industry Allocation Asset Allocation
2.53 Years
Annualized portfolio YTM* 7.43% Banks 9.07%
Equity : 51.80%
Macaulay Duration 2.65 Years International Exchange
Finance 5.44% Traded Funds : 17.39%
*In case of semi annual YTM, it has been Commodity ETF : 12.25%
annualised. IT - Software 4.11% Government Bond : 8.56%
Corporate Bond : 6.09%
Pharmaceuticals & Commodity Future : 2.01%
Total Expense Ratio^ Biotechnology
3.82% Cash & Other Receivables : 1.90%

Regular/Other than Direct 1.62 Automobiles 3.35%

Direct 0.34 Petroleum Products 3.32%
Rating Profile
Load structure Power 2.41%
Entry Load: Not Applicable
Auto Components 2.23% Equity : 51.80%
Exit Load: 10% of the units allotted shall be redeemed without any exit load, International Exchange
Traded Funds : 17.39%
on or before completion of 12 months from the date of allotment of units. Insurance 2.23% AAA/SOV/A1+/Cash & Other
Any redemption in excess of such limit in the first 12 months from the date of AMFI Classification Receivables : 16.55%
Diversified FMCG 1.94% Commodity ETF : 12.25%
allotment shall be subject to the following exit load. Redemption of units Commodity Future : 2.01%
would be done on First in First out Basis (FIFO):
1% if redeemed or switched out on or before completion of 12 months
from the date of allotment of units. Product Label Fund Riskometer Benchmark Riskometer
Nil, if redeemed or switched out after completion of 12 months from the
date of allotment of units. Nippon India Multi Asset Fund 50% of S&P BSE 500 TRI, 20% of MSCI World Index TRI,
This product is suitable for investors who are
15% of Crisil Short Term Bond Index & 15% of Domestic
w.e.f Oct 03, 2023 seeking*:
prices of Gold
Average Maturity, Modified Duration & YTM details provided for Debt portion of
Long term capital growth
Portfolio only. Investment in equity and equity related securities,
debt & money market instruments and Exchange
Traded Commodity Derivatives and Gold ETF

*Investors should consult their financial advisors if in

Please refer page no. 119 for explanation on various symbols mentioned doubt about whether the product is suitable for
them.
on the page

Fundamentals December 2023 43

Nippon India Index Fund - Nifty 50 Plan
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Automobiles Tata Steel Limited 1.18
Type of Scheme Mahindra & Mahindra Limited 1.67 Finance
An open ended scheme replicating/ tracking Nifty 50. Maruti Suzuki India Limited 1.60 Bajaj Finance Limited 2.15
Tata Motors Limited 1.41 Bajaj Finserv Limited 1.03
Current Investment Philosophy
Banks IT - Software
The fund employs an investment approach designed to track the
HDFC Bank Limited* 13.25 Infosys Limited* 5.88
performance of Nifty 50 TRI. The Scheme seeks to achieve this goal
by investing in securities constituting the Nifty 50 Index in same ICICI Bank Limited* 7.42 Tata Consultancy Services Limited* 4.05
proportion as in the Index. Axis Bank Limited* 3.38 HCL Technologies Limited 1.61
Kotak Mahindra Bank Limited* 2.92 Petroleum Products
Date of Allotment State Bank of India 2.46 Reliance Industries Limited* 9.11
September 28, 2010 IndusInd Bank Limited 1.08 Pharmaceuticals & Biotechnology
Fund Manager(s) Cement & Cement Products Sun Pharmaceutical Industries Limited 1.50
UltraTech Cement Limited 1.18 Power
Mehul Dama (Managing Since Nov 2018)
Total Experience of more than 18 years Construction NTPC Limited 1.41
Larsen & Toubro Limited* 4.26 Power Grid Corporation of India Limited 1.08
Benchmark Consumer Durables Telecom - Services
Nifty 50 TRI Titan Company Limited 1.65 Bharti Airtel Limited* 2.90
Asian Paints Limited 1.59 Equity Less Than 1% of Corpus 17.30
Fund Size
Diversified FMCG Cash and Other Receivables 0.00
Monthly Average: ₹ 1,084.60 Cr
ITC Limited* 4.37 Grand Total 100.00
Month End: ₹ 1,127.77 Cr
Hindustan Unilever Limited 2.57 *Top 10 Holdings
NAV as on November 30, 2023 Ferrous Metals
Growth Plan ₹ 33.7667
Quarterly IDCW Plan ₹ 26.6283
Half Yearly IDCW Plan ₹ 26.6284 SIP - If you invested ₹ 10000 every month
Annual IDCW Plan ₹ 26.5367
Since Inception 10 Years 5 Years 3 Years 1 Year
Bonus Option ₹ 33.7667
Direct - Growth Plan ₹ 36.1565 Total Amount Invested (₹) 1,580,000 1,200,000 600,000 360,000 120,000
Direct - Quarterly IDCW Plan ₹ 28.8018 Market Value (₹) 3,704,768 2,292,060 864,899 427,453 129,989
Direct - Half Yearly IDCW Plan ₹ 28.8076 Scheme Return (%) 12.18 12.48 14.76 11.68 16.62
Direct - Annual IDCW Plan ₹ 28.8483
Direct - Bonus Option ₹ 36.1565 B: Nifty 50 TRI Return (%) 13.38 13.73 15.94 12.61 17.35
AB: S&P BSE Sensex TRI Return (%) 13.50 13.82 15.51 12.04 14.70
Volatility Measures Inception Date: September 28, 2010
Standard Deviation 3.86 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Beta 0.97 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Sharpe Ratio 0.19 consideration.
Note: The above measures have been calculated using monthly rolling B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
returns for 36 months period with 6.9% risk free return (FBIL index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Overnight MIBOR as on 30/11/2023).

Portfolio Turnover (Times) 0.13

Industry Allocation IDCW History
Regular
@ Direct Plan Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Tracking Error Plan Banks 30.51% Quarterly IDCW Plan
0.05 % 0.05 % 18-Feb-22 1.00 23.5872 22.5872
IT - Software 13.64%
28-Feb-20 1.33 16.8225 15.3225
Total Expense Ratio^ Petroleum Products 9.58% 22-Feb-19 1.55 18.1710 16.4210
Regular/Other than Direct 0.59 Direct - Quarterly IDCW Plan
Diversified FMCG 6.95%
18-Feb-22 1.00 25.1979 24.1979
Direct 0.20
Automobiles 6.63% 28-Feb-20 1.33 17.5571 16.0571
22-Feb-19 1.55 18.7558 17.0058
Load structure Construction 4.26% Half Yearly IDCW Plan
Entry Load:Not Applicable Pharmaceuticals & 18-Feb-22 1.00 23.5872 22.5872
3.57%
Exit Load:0.25% if redeemed or switched out on or before completion Biotechnology 28-Feb-20 1.33 16.8220 15.3220
22-Feb-19 1.55 18.1710 16.4210
of 7 days from the date of allotment of units. Consumer Durables 3.24%
Direct - Half Yearly IDCW Plan
Nil, thereafter. Finance 3.18%
18-Feb-22 1.00 25.2038 24.2038
AMFI Classification
Telecom - Services 2.90% 28-Feb-20 1.33 17.5614 16.0614
22-Feb-19 1.55 18.7558 17.0058
Annual IDCW Plan
18-Feb-22 1.00 23.5095 22.5095
28-Feb-20 1.33 16.7721 15.2721
22-Feb-19 1.55 18.1710 16.4210
Direct - Annual IDCW Plan
18-Feb-22 1.00 25.2383 24.2383
28-Feb-20 1.33 17.5651 16.0651
22-Feb-19 1.55 18.7558 17.0058
Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
Face Value-₹10.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Index Fund - Nifty 50 Nifty 50 TRI
This product is suitable for investors who are seeking*:
Plan
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of the Nifty 50, subject to tracking errors.

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

44 December 2023 Fundamentals

Nippon India Index Fund - S&P BSE Sensex Plan
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Automobiles Finance
Type of Scheme Mahindra & Mahindra Limited 2.06 Bajaj Finance Limited 2.59
An open ended scheme replicating/tracking S&P BSE Sensex. Maruti Suzuki India Limited 1.84 Bajaj Finserv Limited 1.19
Tata Motors Limited 1.66 Food Products
Current Investment Philosophy
Banks Nestle India Limited 1.13
The fund employs an investment approach designed to track the
HDFC Bank Limited* 15.40 IT - Software
performance of S&P BSE Sensex TRI. The Scheme seeks to achieve
this goal by investing in securities constituting the S&P BSE Sensex ICICI Bank Limited* 8.56 Infosys Limited* 6.80
Index in same proportion as in the Index. Axis Bank Limited* 3.99 Tata Consultancy Services Limited* 4.68
Kotak Mahindra Bank Limited* 3.29 HCL Technologies Limited 1.86
Date of Allotment State Bank of India 2.84 Petroleum Products
September 28, 2010 IndusInd Bank Limited 1.25 Reliance Industries Limited* 10.73
Fund Manager(s) Cement & Cement Products Pharmaceuticals & Biotechnology
UltraTech Cement Limited 1.36 Sun Pharmaceutical Industries Limited 1.73
Mehul Dama (Managing Since Nov 2018)
Total Experience of more than 18 years Construction Power
Larsen & Toubro Limited* 4.92 NTPC Limited 1.62
Benchmark Consumer Durables Power Grid Corporation of India Limited 1.25
S&P BSE Sensex TRI Titan Company Limited 1.91 Telecom - Services
Asian Paints Limited 1.84 Bharti Airtel Limited* 3.34
Fund Size
Diversified FMCG Equity Less Than 1% of Corpus 2.75
Monthly Average: ₹ 559.95 Cr
ITC Limited* 5.04 Cash and Other Receivables 0.03
Month End: ₹ 578.60 Cr
Hindustan Unilever Limited 2.98 Grand Total 100.00
NAV as on November 30, 2023 Ferrous Metals *Top 10 Holdings
Growth Plan ₹ 33.6846 Tata Steel Limited 1.35
Quarterly IDCW Plan ₹ 26.5526
Half Yearly IDCW Plan ₹ 26.5602
Annual IDCW Plan ₹ 26.5497 SIP - If you invested ₹ 10000 every month
Bonus Option ₹ 33.6846
Since Inception 10 Years 5 Years 3 Years 1 Year
Direct - Growth Plan ₹ 35.5357
Direct - Quarterly IDCW Plan ₹ 28.2688 Total Amount Invested (₹) 1,580,000 1,200,000 600,000 360,000 120,000
Direct - Half Yearly IDCW Plan ₹ 28.2298 Market Value (₹) 3,760,941 2,332,709 863,277 424,809 128,421
Direct - Annual IDCW Plan ₹ 28.2669
Scheme Return (%) 12.38 12.81 14.68 11.25 13.96
Direct - Bonus Option ₹ 35.5357
B: S&P BSE Sensex TRI Return (%) 13.50 13.82 15.51 12.04 14.70
Volatility Measures AB: Nifty 50 TRI Return (%) 13.38 13.73 15.94 12.61 17.35
Standard Deviation 3.87 Inception Date: September 28, 2010
Beta 0.97 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Sharpe Ratio 0.18 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Note: The above measures have been calculated using monthly rolling consideration.
returns for 36 months period with 6.9% risk free return (FBIL B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Overnight MIBOR as on 30/11/2023). index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Portfolio Turnover (Times) 0.17
Regular
Direct Plan Industry Allocation IDCW History
Tracking Error@ Plan
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
0.07 % 0.06 % Banks 35.33% Quarterly IDCW Plan
18-Feb-22 1.00 23.6074 22.6074
Total Expense Ratio^ IT - Software 15.10%
28-Feb-20 1.33 16.9207 15.4207
Regular/Other than Direct 0.58 Petroleum Products 10.73% 22-Feb-19 1.55 17.8002 16.0502
Direct 0.18 Diversified FMCG 8.02%
Direct - Quarterly IDCW Plan
18-Feb-22 1.00 24.8365 23.8365
Load structure Automobiles 5.57% 28-Feb-20 1.33 17.6072 16.1072
22-Feb-19 1.55 18.3383 16.5883
Entry Load:Not Applicable Construction 4.92% Half Yearly IDCW Plan
Exit Load:0.25% if redeemed or switched out on or before completion 18-Feb-22 1.00 23.6095 22.6095
Finance 3.78%
of 7 days from the date of allotment of units. 28-Feb-20 1.33 16.9200 15.4200
Nil, thereafter. Consumer Durables 3.75% 22-Feb-19 1.55 17.8002 16.0502
Direct - Half Yearly IDCW Plan
Telecom - Services 3.34%
18-Feb-22 1.00 24.8033 23.8033
AMFI Classification
Power 2.87% 28-Feb-20 1.33 17.6038 16.1038
22-Feb-19 1.55 18.3383 16.5883
Annual IDCW Plan
18-Feb-22 1.00 23.6049 22.6049
28-Feb-20 1.33 16.9198 15.4198
22-Feb-19 1.55 17.8002 16.0502
Direct - Annual IDCW Plan
18-Feb-22 1.00 24.8347 23.8347
28-Feb-20 1.33 17.6113 16.1113
22-Feb-19 1.55 18.3383 16.5883
Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
Face Value-₹10.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Index Fund - S&P BSE S&P BSE Sensex TRI
This product is suitable for investors who are seeking*:
Sensex Plan
Long term capital growth
Investment in equity and equity related securities and portfolios
replicating the composition of the sensex, subject to tracking errors.

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

Fundamentals December 2023 45

Nippon India Nifty Smallcap 250 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Type of Scheme Banks IT - Services

An open ended scheme replicating/tracking Nifty Smallcap 250 Index. RBL Bank Limited* 1.07 Cyient Limited* 1.24
Current Investment Philosophy Capital Markets IT - Software
The fund employs a passive investment approach designed to track
BSE Limited* 2.56 Sonata Software Limited* 1.00
the performance of Nifty Smallcap 250 TRI. The Scheme seeks to
achieve this goal by investing in securities constituting the Nifty Central Depository Services (India) Limited* 1.28 Industrial Products
Smallcap 250 Index in same proportion as in the Index.
Multi Commodity Exchange of India Limited* 1.24 KEI Industries Limited* 1.23
Date of Allotment Angel One Limited* 1.14 Equity Less Than 1% of Corpus 85.06
October 16, 2020
Electrical Equipment
Cash and Other Receivables -0.15
Fund Manager(s)
Suzlon Energy Limited* 3.12
Mehul Dama (Managing Since Oct 2020) Grand Total 100.00
Total Experience of more than 18 years Finance
*Top 10 Holdings
Benchmark IDFC Limited* 1.20
Nifty Smallcap 250 TRI

Fund Size
Monthly Average: ₹ 782.46 Cr SIP - If you invested ₹ 10000 every month
Month End: ₹ 832.88 Cr
Since Inception 3 Years 1 Year
NAV as on November 30, 2023 Total Amount Invested (₹) 380,000 360,000 120,000
Growth Plan ₹ 25.8258 Market Value (₹) 577,805 526,468 153,532
IDCW Plan ₹ 25.8258
Scheme Return (%) 27.99 26.78 58.81
Direct - Growth Plan ₹ 26.4210
Direct - IDCW Plan ₹ 26.4210 B: Nifty Smallcap 250 TRI Return (%) 29.92 28.62 61.08
AB: Nifty 50 TRI Return (%) 13.36 12.61 17.35
Volatility Measures
Inception Date: October 16, 2020
Standard Deviation 5.29 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Beta 0.97 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Sharpe Ratio 0.36 consideration.
Note: The above measures have been calculated using monthly rolling B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
returns for 36 months period with 6.9% risk free return (FBIL index stocks, thereby showing a true picture of returns.
Overnight MIBOR as on 30/11/2023). For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Portfolio Turnover (Times) 0.42

Regular
Direct Plan Industry Allocation
Tracking Error@ Plan
0.11 % 0.11 % Finance 9.25%

Total Expense Ratio^ Capital Markets 8.73%

Regular/Other than Direct 0.88 Industrial Products 7.37%

Direct 0.32 Pharmaceuticals &
6.11%
Biotechnology
Electrical
Load structure Equipment
5.03%

Entry Load:Not Applicable Consumer Durables 4.97%

Exit Load:Nil Banks 4.90%

IT - Software 4.41%

Auto Components 4.07%

AMFI Classification
Chemicals &
3.92%
Petrochemicals

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty Smallcap 250 Nifty Smallcap 250 TRI
This product is suitable for investors who are seeking*:
Index Fund
Long term capital growth
Investment in equity and equity related securities and portfolio
replicating the composition of the Nifty Smallcap 250 Index, subject to
tracking errors

*Investors should consult their financial advisors if in doubt about whether

Please refer page no. 119 for explanation on various symbols mentioned on the
the product is suitable for them.
page

46 December 2023 Fundamentals

Nippon India Nifty Midcap 150 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Agricultural, Commercial & Construction Vehicles KPIT Technologies Limited 1.02
Type of Scheme Ashok Leyland Limited 1.10 Industrial Products
An open ended scheme replicating/tracking Nifty Midcap 150 Index. Auto Components APL Apollo Tubes Limited 1.23
Tube Investments of India Limited* 1.47 Supreme Industries Limited 1.20
Current Investment Philosophy
Banks Bharat Forge Limited 1.20
The fund employs a passive investment approach designed to track
AU Small Finance Bank Limited* 1.49 Cummins India Limited 1.09
the performance of Nifty Midcap 150 TRI.The Scheme seeks to
achieve this goal by investing in securities constituting the Nifty The Federal Bank Limited* 1.45 Polycab India Limited 1.03
Midcap 150 Index in same proportion as in the Index. Yes Bank Limited* 1.42 Insurance
IDFC First Bank Limited 1.13 Max Financial Services Limited 1.00
Date of Allotment Capital Markets Leisure Services
February 19, 2021 HDFC Asset Management Company Limited 1.25 The Indian Hotels Company Limited* 1.56
Electrical Equipment Pharmaceuticals & Biotechnology
Fund Manager(s)
CG Power and Industrial Solutions Limited 1.21 Lupin Limited 1.29
Mehul Dama (Managing Since Feb 2021)
Total Experience of more than 18 years Finance Aurobindo Pharma Limited 1.23
Power Finance Corporation Limited* 2.04 Power
Benchmark REC Limited* 1.81 Adani Power Limited* 1.39
Nifty Midcap 150 TRI Healthcare Services Retailing
Max Healthcare Institute Limited* 1.97 FSN E-Commerce Ventures Limited 1.01
Fund Size
IT - Software Equity Less Than 1% of Corpus 65.39
Monthly Average: ₹ 907.34 Cr
Coforge Limited* 1.46 Cash and Other Receivables -0.01
Month End: ₹ 954.47 Cr
Persistent Systems Limited 1.36 Grand Total 100.00
NAV as on November 30, 2023 Tata Elxsi Limited 1.21
*Top 10 Holdings
Growth Plan ₹ 18.1051
IDCW Plan ₹ 18.1051
Direct - Growth Plan ₹ 18.3986
SIP - If you invested ₹ 10000 every month
Direct - IDCW Plan ₹ 18.3986
Since Inception 1 Year
Portfolio Turnover (Times) 0.55 Total Amount Invested (₹) 340,000 120,000
Regular Market Value (₹) 474,379 147,540
Direct Plan
Tracking Error@ Plan
Scheme Return (%) 24.81 47.70
0.09 % 0.09 %
B: Nifty Midcap 150 TRI Return (%) 26.07 49.09
Total Expense Ratio^
AB: Nifty 50 TRI Return (%) 12.40 17.35
Regular/Other than Direct 0.71
Direct 0.30 Inception Date: February 19, 2021
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Load structure installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Entry Load:Not Applicable consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Exit Load:Nil TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Industry Allocation

Industrial Products 9.10%

Finance 9.02%

Banks 7.90%
Pharmaceuticals &
7.40%
Biotechnology
Auto Components 7.35%

IT - Software 6.26%
Chemicals &
4.51%
Petrochemicals
Consumer Durables 4.43%

Realty 3.98%
AMFI Classification
Healthcare Services 3.77%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty Midcap 150 Index Nifty Midcap 150 TRI
This product is suitable for investors who are seeking*:
Fund
Long term capital growth
Investment in equity and equity related securities and portfolio replicating
the composition of the Nifty Midcap 150 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether

Please refer page no. 119 for explanation on various symbols mentioned on the the product is suitable for them.
page

Fundamentals December 2023 47

Nippon India Nifty 50 Value 20 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets Company / Issuer % of Assets

Type of Scheme Automobiles Infosys Limited* 14.51

An open ended scheme replicating/tracking Nifty 50 Value 20 Index. Bajaj Auto Limited 2.70 Tata Consultancy Services Limited* 13.98

Current Investment Philosophy Hero MotoCorp Limited 1.94 HCL Technologies Limited* 5.55
The fund employs a passive investment approach designed to track Tech Mahindra Limited* 2.98
Cement & Cement Products
the performance of Nifty 50 Value 20 TRI.The Scheme seeks to
achieve this goal by investing in securities constituting the Nifty 50 Grasim Industries Limited 2.89 Wipro Limited 2.28
Value 20 Index in same proportion as in the Index. Non - Ferrous Metals
Consumable Fuels
Date of Allotment Hindalco Industries Limited 2.95
Coal India Limited* 3.05
February 19, 2021
Oil
Diversified FMCG
Fund Manager(s) Oil & Natural Gas Corporation Limited 2.97
ITC Limited* 14.34
Mehul Dama (Managing Since Feb 2021)
Total Experience of more than 18 years Hindustan Unilever Limited* 8.89 Petroleum Products

Benchmark Ferrous Metals Bharat Petroleum Corporation Limited 1.63

Nifty 50 Value 20 TRI Tata Steel Limited* 4.06 Power

Fund Size JSW Steel Limited 2.91 NTPC Limited* 4.86

Monthly Average: ₹ 404.85 Cr Power Grid Corporation of India Limited* 3.73
Fertilizers & Agrochemicals
Month End: ₹ 423.35 Cr
UPL Limited 1.12 Cash and Other Receivables 0.42
NAV as on November 30, 2023
Growth Plan ₹ 15.1721 Food Products Grand Total 100.00
IDCW Plan ₹ 15.1721 Britannia Industries Limited 2.24 *Top 10 Holdings
Direct - Growth Plan ₹ 15.4275
Direct - IDCW Plan ₹ 15.4275 IT - Software

Portfolio Turnover (Times) 0.22

Regular
Direct Plan
Tracking Error@ Plan SIP - If you invested ₹ 10000 every month
0.07 % 0.06 %
Since Inception 1 Year
Total Expense Ratio^ Total Amount Invested (₹) 340,000 120,000
Regular/Other than Direct 0.68 Market Value (₹) 418,288 133,444
Direct 0.20
Scheme Return (%) 15.08 22.56
Load structure B: Nifty 50 Value 20 TRI Return (%) 16.21 23.67
Entry Load:Not Applicable AB: Nifty 50 TRI Return (%) 12.40 17.35
Exit Load:Nil
Inception Date: February 19, 2021
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Industry Allocation

IT - Software 39.30%

Diversified FMCG 23.23%

Power 8.58%

Ferrous Metals 6.97%

Automobiles 4.64%

Consumable Fuels 3.05%

Oil 2.97%
Non - Ferrous
2.95%
Metals
Cement & Cement
2.89%
Products
AMFI Classification
Food Products 2.24%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty 50 Value 20 Index Nifty 50 Value 20 TRI
This product is suitable for investors who are seeking*:
Fund
Long term capital growth
Investment in equity and equity related securities and portfolio replicating
the composition of the Nifty 50 Value 20 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether

Please refer page no. 119 for explanation on various symbols mentioned on the the product is suitable for them.
page

48 December 2023 Fundamentals

Nippon India Nifty Alpha Low Volatility 30 Index Fund
Index Fund Portfolio as on November 30, 2023
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Agricultural Food & other Products Power Finance Corporation Limited* 6.04
Tata Consumer Products Limited 3.02 Food Products
Type of Scheme Automobiles Nestle India Limited* 4.33
Bajaj Auto Limited* 3.84 Britannia Industries Limited 3.38
An open-ended scheme replicating/tracking Nifty Alpha Low Volatility Maruti Suzuki India Limited 3.49 Industrial Products
30 Index. Mahindra & Mahindra Limited 2.98 Cummins India Limited 3.22
Banks Personal Products
Current Investment Philosophy ICICI Bank Limited* 3.69 Colgate Palmolive (India) Limited 3.63
Axis Bank Limited 3.35 Godrej Consumer Products Limited 3.04
The fund employs a passive investment approach designed to track State Bank of India 2.47 Dabur India Limited 2.47
the performance of Nifty Alpha Low Volatility 30 TRI. Cement & Cement Products Petroleum Products
Grasim Industries Limited 3.53 Indian Oil Corporation Limited* 4.22
The fund seeks to achieve this goal by investing in securities UltraTech Cement Limited 3.37 Pharmaceuticals & Biotechnology
constituting the Nifty Alpha Low Volatility 30 Index in same proportion Chemicals & Petrochemicals Sun Pharmaceutical Industries Limited* 4.28
as in the Index. Pidilite Industries Limited 3.07 Alkem Laboratories Limited 2.87
Construction Torrent Pharmaceuticals Limited 2.41
Date of Allotment Larsen & Toubro Limited* 4.34 Zydus Lifesciences Limited 2.00
Consumer Durables Abbott India Limited 1.57
August 19, 2022 Titan Company Limited 3.12 Power
Diversified FMCG NTPC Limited* 3.75
Fund Manager(s) ITC Limited* 4.29 Telecom - Services
Hindustan Unilever Limited 2.75 Bharti Airtel Limited* 3.65
Mehul Dama (Managing Since Aug 2022) Electrical Equipment Cash and Other Receivables -1.04
Total Experience of more than 18 years Siemens Limited 2.86 Grand Total 100.00
Finance
*Top 10 Holdings
Benchmark
Nifty Alpha Low Volatility 30 TRI
Fund Size
SIP - If you invested ₹ 10000 every month
Monthly Average: ₹ 71.30 Cr
Month End: ₹ 78.35 Cr Since Inception 1 Year
Total Amount Invested (₹) 160,000 120,000
NAV as on November 30, 2023
Growth Plan ₹ 12.7377 Market Value (₹) 191,308 140,906
IDCW Plan ₹ 12.7377 Scheme Return (%) 29.25 35.69
Direct - Growth Plan ₹ 12.8460 B: Nifty Alpha Low Volatility 30 TRI Return (%) 30.77 37.30
Direct - IDCW Plan ₹ 12.8460
AB: Nifty 50 TRI Return (%) 15.35 17.35

Portfolio Turnover (Times) 0.67 Inception Date: August 19, 2022

Regular Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Direct Plan installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Tracking Error@ Plan out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
0.13 % 0.13 % consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Total Expense Ratio^ index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Regular/Other than Direct 0.72
Direct 0.30
Load structure
Industry Allocation
Entry Load:Not Applicable
Exit Load:Nil Pharmaceuticals &
13.14%
Biotechnology
Automobiles 10.30%

Banks 9.51%

Personal Products 9.14%

Food Products 7.72%

Diversified FMCG 7.04%

Cement & Cement
6.90%
Products
Finance 6.04%

Construction 4.34%
AMFI Classification
Petroleum Products 4.22%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty Alpha Low Volatility 30 Nifty Alpha Low Volatility 30 TRI
This product is suitable for investors who are seeking*:
Index Fund
Long term capital growth
Investment in equity and equity related securities and portfolio
replicating the composition of the Nifty Alpha Low Volatility 30 Index,
subject to tracking errors

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the
whether the product is suitable for them.
page

Fundamentals December 2023 49

Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets

Type of Scheme Corporate Bond 58.20 ICRA

An open-ended Target Maturity Index Fund investing in constituents of Nifty NHPC Limited AAA/CARE 2.82
REC Limited CRISIL AAA 13.71 AAA
AAA CPSE Bond Plus SDL Apr 2027 60:40 Index. A Relatively High interest rate
risk and Relatively Low Credit Risk. Power Finance Corporation
CRISIL AAA 12.74 CRISIL
Limited NTPC Limited 1.99
Current Investment Philosophy AAA
The fund employs a passive investment approach designed to track the Indian Railway Finance CRISIL
CRISIL AAA 9.20 Small Industries Dev Bank of India 0.68
performance of Nifty AAA CPSE Bond Plus SDL Apr 2027 60:40 Index. Corporation Limited AAA
The fund seeks to achieve this goal by investing in AAA CPSE bonds & State
Development Loans (SDLs) representing Nifty AAA CPSE Bond Plus SDL Apr ICRA State Government Bond 38.84
Power Grid Corporation of India
2027 60:40 Index. AAA/CRISIL 7.31
Limited
AAA State Government Securities SOV 38.84
Date of Allotment
March 29, 2022 Nuclear Power Corporation Of Cash & Other Receivables 2.96
CRISIL AAA 3.62
India Limited
Fund Manager(s) Export Import Bank of India CRISIL AAA 3.24 Grand Total 100.00
Vivek Sharma (Managing Since Mar 2022)
Total Experience of more than 17 years National Bank For Agriculture
Siddharth Deb (Managing Since Mar 2022) CRISIL AAA 2.88
and Rural Development
Total Experience of more than 16 years

Benchmark
Rating Profile Asset Allocation
Nifty AAA CPSE Bond Plus SDL Apr 2027 60:40 Index

Fund Size
Monthly Average: ₹ 2,906.98 Cr.
Corporate Bond : 58.20%
Month End: ₹ 2,927.79 Cr. AAA/SOV/A1+/Cash & Other State Government Bond : 38.84%
Receivables : 100.00% Cash & Other Receivables : 2.96%
NAV as on November 30, 2023
Growth Plan ₹ 10.7056
IDCW Plan ₹ 10.4411
Direct - Growth Plan ₹ 10.7412
Direct - IDCW Plan ₹ 10.4551
Average Maturity 2.94 Years
Modified Duration 2.50 Years
Annualized portfolio YTM* 7.74% SIP - If you invested ₹ 10000 every month
Macaulay Duration 2.65 Years Since Inception 1 Year
*In case of semi annual YTM, it has been
annualised. Total Amount Invested (₹) 210,000 120,000
Market Value (₹) 220,969 123,677
Total Expense Ratio^
Regular/Other than Direct 0.30% Scheme Return (%) 5.86 6.02
Direct 0.15% B: Nifty AAA CPSE Bond Plus SDL Apr 2027 60:40 Index Return (%) 6.19 6.28

Load structure AB: Crisil 10 Yr Gilt Index Return (%) 6.45 5.93
Entry Load: Not Applicable Inception Date: March 29, 2022
Exit Load: Nil Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Regular installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Direct Plan out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Tracking Error@ Plan consideration.
0.53 % 0.53 % B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
PRC Matrix For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Potential Risk Class IDCW History

Credit Risk→ Relatively Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Relatively Low Moderate
Interest Rate High IDCW Plan
(Class A) (Class B)
Risk↓ (Class C) 27-Mar-23 0.2533 10.2516 9.9983

Relatively Low Direct - IDCW Plan

(Class I) 27-Mar-23 0.2737 10.2721 9.9984

Moderate Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
(Class II) Value- ₹10.
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty AAA CPSE Bond Plus SDL - Nifty AAA CPSE Bond Plus SDL Apr
This product is suitable for investors who are seeking*:
Apr 2027 Maturity 60:40 Index Fund 2027 60:40 Index
Income over long term
Investments in CPSE Bonds & State Development Loans
(SDLs) similar to the composition of Nifty AAA CPSE
Bond Plus SDL Apr 2027 60:40 Index, subject to
tracking errors

Please refer page no. 119 for explanation on various symbols mentioned on the *Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.
page

50 December 2023 Fundamentals

Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Maturity 50:50 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets

Type of Scheme Corporate Bond 48.54 CRISIL

REC Limited 3.30
An open-ended Target Maturity Index Fund investing in constituents of Nifty AAA
AAA PSU Bond Plus SDL Sep 2026 50:50 Index. A Relatively High interest rate Indian Railway Finance
CRISIL AAA 9.90 State Government Bond 48.57
risk and Relatively Low Credit Risk. Corporation Limited

Export Import Bank of India CRISIL AAA 8.82 State Government Securities SOV 48.57
Current Investment Philosophy
The fund employs a passive investment approach designed to track the Power Finance Corporation Cash & Other Receivables 2.89
CRISIL AAA 7.66
performance of Nifty AAA PSU Bond Plus SDL Sep 2026 50:50 Index. Limited
The fund seeks to achieve this goal by investing into AAA PSU Bonds and Grand Total 100.00
State Development Loans (SDL) representing Nifty AAA PSU Bond Plus SDL Power Grid Corporation of India
CRISIL AAA 6.77
Sep 2026 50:50 Index. Limited

Date of Allotment Small Industries Dev Bank of India ICRA AAA 6.56
October 27, 2022 NTPC Limited CRISIL AAA 5.52
Fund Manager(s)
Vivek Sharma (Managing Since Oct 2022)
Total Experience of more than 17 years Rating Profile Asset Allocation
Siddharth Deb (Managing Since Oct 2022)
Total Experience of more than 16 years

Benchmark AAA/SOV/A1+/Cash & Other

State Government Bond : 48.57%
Corporate Bond : 48.54%
Nifty AAA PSU Bond Plus SDL Sep 2026 50:50 Index Receivables : 100.00% Cash & Other Receivables : 2.89%

Fund Size
Monthly Average: ₹ 455.49 Cr.
Month End: ₹ 451.74 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 10.7459
IDCW Plan ₹ 10.7459
Direct - Growth Plan ₹ 10.7691
Direct - IDCW Plan ₹ 10.7691 SIP - If you invested ₹ 10000 every month
Since Inception 1 Year
Average Maturity 2.53 Years
Modified Duration 2.18 Years Total Amount Invested (₹) 140,000 120,000
Annualized portfolio YTM* 7.72% Market Value (₹) 145,204 123,767
Macaulay Duration 2.31 Years Scheme Return (%) 6.31 6.17
*In case of semi annual YTM, it has been B: Nifty AAA PSU Bond Plus SDL Sep 2026 50:50 Index Return (%) 6.78 6.56
annualised.
AB: Crisil 10 Yr Gilt Index Return (%) 6.32 5.93
Total Expense Ratio^
Inception Date: October 27, 2022
Regular/Other than Direct 0.39%
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Direct 0.20% installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Load structure consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Entry Load: Not Applicable TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Exit Load: Nil index stocks, thereby showing a true picture of returns.
Regular For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct Plan
Tracking Error@ Plan
0.60 % 0.60 %

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty AAA PSU Bond Plus SDL - Nifty AAA PSU Bond Plus SDL Sep
This product is suitable for investors who are seeking*:
Sep 2026 Maturity 50:50 Index Fund 2026 50:50 Index
Income over long term
Investments in PSU Bonds and State Development
Loans (SDLs) that seeks to track Nifty AAA PSU Bond
Plus SDL Sep 2026 Index, subject to tracking errors.

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on the
about whether the product is suitable for them.
page

Fundamentals December 2023 51

Nippon India Nifty SDL Plus G-Sec - Jun 2028 Maturity 70:30 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 31.51

An open-ended Target Maturity Index Fund investing in constituents of Nifty
SDL Plus G-Sec Jun 2028 70:30 Index. A Relatively High interest rate risk and Government of India SOV 31.51
Relatively Low Credit Risk.
State Government Bond 65.83
Current Investment Philosophy State Government Securities SOV 65.83
The fund employs a passive investment approach designed to track the
performance of Nifty SDL Plus G-Sec Jun 2028 70:30 Index. Cash & Other Receivables 2.66
The fund seeks to achieve this goal by investing into State Development Loans
(SDLs) and Government Securities (G-Secs) representing Nifty SDL Plus G-Sec Grand Total 100.00
Jun 2028 70:30 Index.

Date of Allotment
November 24, 2022 Rating Profile Asset Allocation

Fund Manager(s)
Vivek Sharma (Managing Since Nov 2022)
Total Experience of more than 17 years AAA/SOV/A1+/Cash & Other
State Government Bond : 65.83%
Government Bond : 31.51%
Siddharth Deb (Managing Since Nov 2022) Receivables : 100.00% Cash & Other Receivables : 2.66%
Total Experience of more than 16 years

Benchmark
Nifty SDL Plus G-Sec Jun 2028 70:30 Index

Fund Size
Monthly Average: ₹ 347.30 Cr.
Month End: ₹ 347.42 Cr.

NAV as on November 30, 2023 SIP - If you invested ₹ 10000 every month
Growth Plan ₹ 10.6709 Since Inception 1 Year
IDCW Plan ₹ 10.6709
Direct - Growth Plan ₹ 10.6945 Total Amount Invested (₹) 130,000 120,000
Direct - IDCW Plan ₹ 10.6945 Market Value (₹) 134,326 123,649
Average Maturity 4.16 Years Scheme Return (%) 6.08 5.98
Modified Duration 3.42 Years B: Nifty SDL Plus G-Sec Jun 2028 70:30 Index Return (%) 6.52 6.42
Annualized portfolio YTM* 7.65% AB: Crisil 10 Yr Gilt Index Return (%) 6.06 5.93
Macaulay Duration 3.54 Years
Inception Date: November 24, 2022
*In case of semi annual YTM, it has been
annualised. Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Total Expense Ratio^ consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Regular/Other than Direct 0.38% TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Direct 0.20% index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101.
Load structure
Entry Load: Not Applicable
Exit Load: Nil
Regular
Direct Plan
Tracking Error@ Plan
0.92 % 0.92 %

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty SDL Plus G-Sec - Jun Nifty SDL Plus G-Sec Jun 2028
This product is suitable for investors who are seeking*:
2028 Maturity 70:30 Index Fund 70:30 Index
Income over long term
Investments in State Development Loans (SDLs) &
Government Securities that seek to track Nifty SDL Plus G-
Sec Jun 2028 70:30 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on the
about whether the product is suitable for them.
page

52 December 2023 Fundamentals

Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 96.78

An open-ended Target Maturity Index Fund investing in constituents of Nifty G-
Sec Sep 2027 Index. A Relatively High Interest rate risk and Relatively Low Government of India SOV 96.78
Credit Risk.
Cash & Other Receivables 3.22
Current Investment Philosophy
The fund employs a passive investment approach designed to track the
Grand Total 100.00
performance of Nifty G-Sec Sep 2027 Index
The fund seeks to achieve this goal by investing in Government Securities For scheme performance refer page 92-101.
representing the Nifty G Sec Sep 2027 Index.
Rating Profile Asset Allocation
Date of Allotment
December 06, 2022

Fund Manager(s) Government Bond : 96.78%

AAA/SOV/A1+/Cash & Other
Vivek Sharma (Managing Since Dec 2022) Receivables : 100.00% Cash & Other Receivables : 3.22%
Total Experience of more than 17 years
Siddharth Deb (Managing Since Dec 2022)
Total Experience of more than 16 years

Benchmark
Nifty G-Sec Sep 2027 Index

Fund Size
Monthly Average: ₹ 394.25 Cr.
Month End: ₹ 395.12 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 10.6185
IDCW Plan ₹ 10.6185
Direct - Growth Plan ₹ 10.6392
Direct - IDCW Plan ₹ 10.6392
Average Maturity 3.56 Years
Modified Duration 2.99 Years
Annualized portfolio YTM* 7.40%
Macaulay Duration 3.10 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^
Regular/Other than Direct 0.39%
Direct 0.20%

Load structure
Entry Load: Not Applicable
Exit Load: Nil
Regular
Direct Plan
Tracking Error@ Plan
0.12 % 0.12 %

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty G-Sec Sep 2027 Maturity Nifty G-Sec Sep 2027 Index
This product is suitable for investors who are seeking*:
Index Fund
Income over long term
Investments in Government Securities that seek to track the Nifty
G-Sec Sep 2027 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

Fundamentals December 2023 53

Nippon India Nifty G-Sec Jun 2036 Maturity Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 99.19

An open-ended Target Maturity Index Fund investing in constituents of Nifty G-
Sec Jun 2036 Index. A Relatively High Interest rate risk and Relatively Low Government of India SOV 99.19
Credit Risk.
Cash & Other Receivables 0.81
Current Investment Philosophy
The fund employs a passive investment approach designed to track the
Grand Total 100.00
performance of Nifty G-Sec Jun 2036 Index
The fund seeks to achieve this goal by investing in Government Securities For scheme performance refer page 92-101.
representing the Nifty G Sec Jun 2036 Index.
Rating Profile Asset Allocation
Date of Allotment
December 19, 2022

Fund Manager(s) Government Bond : 99.19%

AAA/SOV/A1+/Cash & Other
Vivek Sharma (Managing Since Dec 2022) Receivables : 100.00% Cash & Other Receivables : 0.81%
Total Experience of more than 17 years
Siddharth Deb (Managing Since Dec 2022)
Total Experience of more than 16 years

Benchmark
Nifty G-Sec Jun 2036 Index

Fund Size
Monthly Average: ₹ 536.02 Cr.
Month End: ₹ 551.08 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 10.6651
IDCW Plan ₹ 10.6651
Direct - Growth Plan ₹ 10.6891
Direct - IDCW Plan ₹ 10.6891
Average Maturity 12.39 Years
Modified Duration 7.97 Years
Annualized portfolio YTM* 7.52%
Macaulay Duration 8.26 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^
Regular/Other than Direct 0.45%
Direct 0.20%

Load structure
Entry Load: Not Applicable
Exit Load: Nil
Regular
Direct Plan
Tracking Error@ Plan
0.64 % 0.64 %

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty G-Sec Jun 2036 Maturity Nifty G-Sec Jun 2036 Index
This product is suitable for investors who are seeking*:
Index Fund
Income over long term
Investments in Government Securities that seek to track the Nifty
G-Sec Jun 2036 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

54 December 2023 Fundamentals

Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity 70:30 Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 28.41

An open-ended Target Maturity Index Fund investing in constituents of Nifty
SDL Plus G-Sec Jun 2029 70:30 Index. A Relatively High interest rate risk and Government of India SOV 28.41
Relatively Low Credit Risk.
State Government Bond 69.25
Current Investment Philosophy State Government Securities SOV 69.25
The fund employs a passive investment approach designed to track the
performance of Nifty SDL Plus G-Sec Jun 2029 70:30 Index. Cash & Other Receivables 2.34
The fund seeks to achieve this goal by investing into State Development Loans
(SDLs) and Government Securities (G-Secs) representing Nifty SDL Plus G-Sec Grand Total 100.00
Jun 2029 70:30 Index.
For scheme performance refer page 92-101.
Date of Allotment
February 20, 2023
Rating Profile Asset Allocation
Fund Manager(s)
Vivek Sharma (Managing Since Feb 2023)
Total Experience of more than 17 years
Siddharth Deb (Managing Since Feb 2023) State Government Bond : 69.25%
AAA/SOV/A1+/Cash & Other Government Bond : 28.41%
Total Experience of more than 16 years Receivables : 100.00% Cash & Other Receivables : 2.34%

Benchmark
Nifty SDL Plus G-Sec Jun 2029 70:30 Index

Fund Size
Monthly Average: ₹ 294.53 Cr.
Month End: ₹ 291.08 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 10.5236
IDCW Plan ₹ 10.5236
Direct - Growth Plan ₹ 10.5408
Direct - IDCW Plan ₹ 10.5408
Average Maturity 5.24 Years
Modified Duration 4.16 Years
Annualized portfolio YTM* 7.67%
Macaulay Duration 4.32 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^
Regular/Other than Direct 0.36%
Direct 0.20%

Load structure
Entry Load: Not Applicable
Exit Load: Nil
Regular
Direct Plan
Tracking Error@ Plan
1.03 % 1.03 %

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty SDL Plus G-Sec - Jun Nifty SDL Plus G-Sec Jun 2029
This product is suitable for investors who are seeking*:
2029 Maturity 70:30 Index Fund 70:30 Index
Income over long term
Investments in State Development Loans (SDLs) &
Government Securities that seek to track Nifty SDL Plus G-
Sec Jun 2029 70:30 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt

Please refer page no. 119 for explanation on various symbols mentioned on the
about whether the product is suitable for them.
page

Fundamentals December 2023 55

Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund
Index Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer Rating % of Assets

Type of Scheme Government Bond 97.97

An open-ended Target Maturity Index Fund investing in constituents of Nifty G-
Sec Oct 2028 Index. A Relatively High interest rate risk and Relatively Low Government of India SOV 97.97
Credit Risk.
Cash & Other Receivables 2.03
Current Investment Philosophy
The fund employs a passive investment approach designed to track the
Grand Total 100.00
performance of Nifty G-Sec Oct 2028 Index.
The fund seeks to achieve this goal by investing in Government Securities For scheme performance refer page 92-101.
representing the Nifty G-Sec Oct 2028 Index.
Rating Profile Asset Allocation
Date of Allotment
March 06, 2023

Fund Manager(s) Government Bond : 97.97%

AAA/SOV/A1+/Cash & Other
Vivek Sharma (Managing Since Mar 2023) Receivables : 100.00% Cash & Other Receivables : 2.03%
Total Experience of more than 17 years
Siddharth Deb (Managing Since Mar 2023)
Total Experience of more than 16 years

Benchmark
Nifty G-Sec Oct 2028 Index

Fund Size
Monthly Average: ₹ 113.88 Cr.
Month End: ₹ 107.07 Cr.

NAV as on November 30, 2023

Growth Plan ₹ 10.5768
IDCW Plan ₹ 10.5768
Direct - Growth Plan ₹ 10.5928
Direct - IDCW Plan ₹ 10.5928
Average Maturity 4.25 Years
Modified Duration 3.49 Years
Annualized portfolio YTM* 7.41%
Macaulay Duration 3.61 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^
Regular/Other than Direct 0.33%
Direct 0.20%

Load structure
Entry Load: Not Applicable
Exit Load: Nil
Regular
Direct Plan
Tracking Error@ Plan
0.64 % 0.64 %

PRC Matrix
Potential Risk Class
Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Risk↓ (Class C)

Relatively Low
(Class I)
Moderate
(Class II)
Relatively High
A-III
(Class III)

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty G-Sec Oct 2028 Maturity Nifty G-Sec Oct 2028 Index
This product is suitable for investors who are seeking*:
Index Fund
Income over long term
Investments in Government Securities that seek to track the Nifty
G-Sec Oct 2028 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

56 December 2023 Fundamentals

Nippon India ETF Nifty 50 BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Automobiles Tata Steel Limited 1.18
Type of Scheme Mahindra & Mahindra Limited 1.67 Finance
An Open Ended Index Exchange Traded Scheme.
Maruti Suzuki India Limited 1.60 Bajaj Finance Limited 2.15
Current Investment Philosophy Tata Motors Limited 1.41 Bajaj Finserv Limited 1.03
The fund employs a passive investment approach designed to track
Banks IT - Software
the performance of Nifty 50 TRI. The fund seeks to achieve this goal
by investing in securities constituting Nifty 50 Index in same HDFC Bank Limited* 13.24 Infosys Limited* 5.88
proportion as in the Index.
ICICI Bank Limited* 7.41 Tata Consultancy Services Limited* 4.05
Date of Allotment Axis Bank Limited* 3.37 HCL Technologies Limited 1.61
December 28, 2001 Kotak Mahindra Bank Limited* 2.92 Petroleum Products

Fund Manager(s) State Bank of India 2.45 Reliance Industries Limited* 9.11
Mehul Dama (Managing Since Sep 2021) IndusInd Bank Limited 1.08 Pharmaceuticals & Biotechnology
Total Experience of more than 18 years
Cement & Cement Products Sun Pharmaceutical Industries Limited 1.50
Benchmark UltraTech Cement Limited 1.18 Power
Nifty 50 TRI
Construction NTPC Limited 1.41
Fund Size Larsen & Toubro Limited* 4.26 Power Grid Corporation of India Limited 1.08
Monthly Average: ₹ 16,962.16 Cr
Month End: ₹ 17,322.09 Cr Consumer Durables Telecom - Services
Titan Company Limited 1.65 Bharti Airtel Limited* 2.90
NAV as on November 30, 2023 ₹ 222.3870
Asian Paints Limited 1.59 Equity Less Than 1% of Corpus 17.28
Volatility Measures Diversified FMCG
Cash and Other Receivables 0.06
Standard Deviation 3.87
ITC Limited* 4.37
Beta 0.97 Grand Total 100.00
Sharpe Ratio 0.21 Hindustan Unilever Limited 2.57
Note: The above measures have been calculated using monthly rolling *Top 10 Holdings
Ferrous Metals
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023). For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Portfolio Turnover (Times) 0.31

0.04 % Industry Allocation IDCW History
Tracking Error@
Creation Unit Size 50,000 units Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Banks 30.49%
Pricing (per unit) (approximately) 1/100th of index 20-Feb-15 8.0000 893.3096 885.3096
IT - Software 13.63%

Exchange Listed NSE Petroleum Products 9.58% 11-Mar-14 7.0000 660.0726 653.0726

Exchange Symbol NIFTYBEES Diversified FMCG 6.94% 14-Mar-13 7.5000 599.2203 591.7203
Past performance may or may not be sustained in future. Pursuant to IDCW
ISIN INF204KB14I2 Automobiles 6.62% payment, NAV falls to the extent of payout & statutory levy (if applicable).
Face Value-₹1 wef. Dec 20, 2019 (Face Value - ₹10 till Dec 19, 2019).
Bloomberg Code NBEES IS Equity Construction 4.26%

Reuters Code NBES.NS & NBES.BO Pharmaceuticals &

Biotechnology
3.56%

Consumer Durables 3.24%

Total Expense Ratio^ 0.04
Load structure
Finance 3.18%
AMFI Classification
Nifty 50 TRI - Valuation Measures
Entry Load:Not Applicable
Telecom - Services 2.90% Full market capitalisation (₹ Cr) 15,803,876.08
Exit Load:Nil P/E 21.52
P/B 3.53
Dividend Yield 1.35
www.nseindia.com

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India ETF Nifty 50 BeES Nifty 50 TRI
Long term capital appreciation
Investment in securities covered by Nifty 50 Index.

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

Fundamentals December 2023 57

Nippon India ETF S&P BSE Sensex
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Automobiles Finance
Type of Scheme Mahindra & Mahindra Limited 2.06 Bajaj Finance Limited 2.60
An Open Ended Index Exchange Traded Fund.
Maruti Suzuki India Limited 1.84 Bajaj Finserv Limited 1.19
Current Investment Philosophy Tata Motors Limited 1.66 Food Products
The fund employs a passive investment approach designed to track
Banks Nestle India Limited 1.13
the performance of S&P BSE Sensex TRI. The fund seeks to achieve
this goal by investing in securities constituting the S&P BSE Sensex HDFC Bank Limited* 15.40 IT - Software
Index in same proportion as in the Index.
ICICI Bank Limited* 8.56 Infosys Limited* 6.80
Date of Allotment Axis Bank Limited* 3.99 Tata Consultancy Services Limited* 4.68
September 24, 2014 Kotak Mahindra Bank Limited* 3.29 HCL Technologies Limited 1.86

Fund Manager(s) State Bank of India 2.84 Petroleum Products

Mehul Dama (Managing Since Nov 2018) IndusInd Bank Limited 1.25 Reliance Industries Limited* 10.73
Total Experience of more than 18 years
Cement & Cement Products
Pharmaceuticals & Biotechnology
Benchmark UltraTech Cement Limited 1.36 Sun Pharmaceutical Industries Limited 1.73
S&P BSE Sensex TRI
Construction Power
Fund Size Larsen & Toubro Limited* 4.92 NTPC Limited 1.62
Monthly Average: ₹ 2,886.82 Cr
Month End: ₹ 3,159.29 Cr Consumer Durables Power Grid Corporation of India Limited 1.25
Titan Company Limited 1.91 Telecom - Services
NAV as on November 30, 2023 ₹ 747.2059
Asian Paints Limited 1.84 Bharti Airtel Limited* 3.34
Volatility Measures Diversified FMCG Equity Less Than 1% of Corpus 2.75
Standard Deviation 3.86
ITC Limited* 5.04
Beta 0.97 Cash and Other Receivables 0.03
Sharpe Ratio 0.20 Hindustan Unilever Limited 2.98
Note: The above measures have been calculated using monthly rolling Grand Total 100.00
Ferrous Metals
returns for 36 months period with 6.9% risk free return (FBIL
*Top 10 Holdings
Overnight MIBOR as on 30/11/2023). Tata Steel Limited 1.35

Portfolio Turnover (Times) 0.14 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Tracking Error@ 0.05 %

Creation Unit Size 10,000 Units Industry Allocation S&P BSE Sensex TRI - Valuation Measures
Pricing (per unit) (approximately) 1/100th of Index Full market capitalisation (₹ Cr) 13,125,594.32
Banks 35.33%
P/E 23.72
Exchange Listed BSE IT - Software 15.10%
P/B 3.45
BSE Scrip Code 538683 Petroleum Products 10.73%
Dividend Yield 1.19
ISIN INF204KA1UN7 Diversified FMCG 8.02%
www.bseindia.com
Bloomberg Code RSENSEX IB Equity Automobiles 5.57%
Reuters Code NIPI.BO Construction 4.92%

Finance 3.78%
Total Expense Ratio^ 0.04
Consumer Durables 3.75%
Load structure
Telecom - Services 3.34%
Entry Load:Not Applicable AMFI Classification
Exit Load:Not Applicable Power 2.87%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF S&P BSE S&P BSE Sensex TRI
This product is suitable for investors who are seeking*:
Sensex
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of S&P BSE Sensex Index, subject to tracking errors.

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

58 December 2023 Fundamentals

Nippon India ETF Nifty 50 Value 20
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Automobiles Infosys Limited* 14.50
Type of Scheme Bajaj Auto Limited 2.70 Tata Consultancy Services Limited* 13.98
An Open Ended Index Exchange Traded Fund. HCL Technologies Limited* 5.55
Hero MotoCorp Limited 1.94
Current Investment Philosophy Cement & Cement Products Tech Mahindra Limited* 2.98
The fund is a passively managed exchange traded fund which will Wipro Limited 2.28
Grasim Industries Limited 2.89
employ an investment approach designed to track the performance
of Nifty 50 Value 20 TRI. The fund seeks to achieve this goal by Consumable Fuels Non - Ferrous Metals
investing in securities constituting the Nifty 50 Value 20 Index in Hindalco Industries Limited 2.95
same proportion as in the Index. Coal India Limited* 3.05

Diversified FMCG Oil

Date of Allotment Oil & Natural Gas Corporation Limited 2.97
June 18, 2015 ITC Limited* 14.34
Hindustan Unilever Limited* 8.89 Petroleum Products
Fund Manager(s)
Ferrous Metals Bharat Petroleum Corporation Limited 1.63
Mehul Dama (Managing Since Nov 2018)
Total Experience of more than 18 years Tata Steel Limited* 4.06 Power

JSW Steel Limited 2.91 NTPC Limited* 4.86

Benchmark
Nifty 50 Value 20 TRI Fertilizers & Agrochemicals Power Grid Corporation of India Limited* 3.73

UPL Limited 1.12 Cash and Other Receivables 0.42

Fund Size
Monthly Average: ₹ 90.29 Cr Food Products Grand Total 100.00
Month End: ₹ 93.02 Cr
Britannia Industries Limited 2.24 *Top 10 Holdings
NAV as on November 30, 2023 ₹ 121.6719 IT - Software

Volatility Measures For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Standard Deviation 3.92

Beta 0.97 Industry Allocation Nifty 50 Value 20 TRI - Valuation Measures
Sharpe Ratio 0.30 Full market capitalisation (₹ Cr) 5,728,151.76
Note: The above measures have been calculated using monthly rolling IT - Software 39.30%
P/E 19.45
returns for 36 months period with 6.9% risk free return (FBIL Diversified FMCG 23.23%
Overnight MIBOR as on 30/11/2023). P/B 3.55
Power 8.58%
Dividend Yield 2.89
Portfolio Turnover (Times) 0.16 Ferrous Metals 6.97%
www.nseindia.com
Tracking Error @ 0.06 % Automobiles 4.64%
Creation Unit Size 30,000 units Consumable Fuels 3.05%
Pricing (per unit) (approximately) 1/100th of index
Oil 2.97%
Non - Ferrous
Exchange Listed NSE Metals
2.95%
Cement & Cement
Exchange Symbol NV20BEES Products
2.89%
AMFI Classification
ISIN INF204KB18I3 Food Products 2.24%

Bloomberg Code RELNV20 IS Equity

Reuters Code NNET.NS

Total Expense Ratio^ 0.34

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty 50 Value Nifty 50 Value 20 TRI
This product is suitable for investors who are seeking*:
20
Long term capital growth
investment in equity and equity related securities and portfolios replicating
the composition of Nifty 50 Value 20 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

Fundamentals December 2023 59

Nippon India ETF Nifty Next 50 Junior BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Cholamandalam Investment and Finance Company Ltd* 3.07
Bharat Electronics Limited* 3.63 SBI Cards and Payment Services Limited 1.51
Hindustan Aeronautics Limited* 3.10 Muthoot Finance Limited 1.12
Type of Scheme Agricultural Food & other Products Bajaj Holdings & Investment Limited 1.01
An Open-ended Index Exchange Traded Fund. Marico Limited 1.94 Gas
Auto Components GAIL (India) Limited 2.47
Current Investment Philosophy Samvardhana Motherson International Limited 1.52 Insurance
Bosch Limited 1.28 ICICI Lombard General Insurance Company Limited 2.63
The fund employs a passive investment approach designed to track Automobiles ICICI Prudential Life Insurance Company Limited 1.52
the performance of Nifty Next 50 TRI. The fund seeks to achieve this TVS Motor Company Limited* 3.02 Leisure Services
goal by investing in securities constituting the Nifty Next 50 Index in Banks Indian Railway Catering And Tourism Corporation Limited 1.49
same proportion as in the Index. Bank of Baroda 2.55 Personal Products
Canara Bank 1.88 Godrej Consumer Products Limited* 2.65
Date of Allotment Punjab National Bank 1.60 Dabur India Limited 2.19
Beverages Colgate Palmolive (India) Limited 2.03
February 21, 2003
United Spirits Limited 2.12 Petroleum Products
Varun Beverages Limited 1.64 Indian Oil Corporation Limited* 2.85
Fund Manager(s) Cement & Cement Products Pharmaceuticals & Biotechnology
Mehul Dama (Managing Since Sep 2021) Shree Cement Limited 2.48 Torrent Pharmaceuticals Limited 1.35
Total Experience of more than 18 years Ambuja Cements Limited 2.24 Zydus Lifesciences Limited 1.12
Chemicals & Petrochemicals Power
Benchmark Pidilite Industries Limited* 2.71 Tata Power Company Limited 2.62
SRF Limited 2.39 Adani Green Energy Limited 1.19
Nifty Next 50 TRI Consumer Durables Realty
Havells India Limited 2.27 DLF Limited* 2.69
Fund Size Berger Paints (I) Limited 1.12 Retailing
Monthly Average: ₹ 3,427.94 Cr Diversified Metals Trent Limited* 4.27
Month End: ₹ 3,589.71 Cr Vedanta Limited 1.93 Info Edge (India) Limited 2.48
Electrical Equipment Avenue Supermarts Limited 1.88
Siemens Limited 2.26 Zomato Limited 1.69
NAV as on November 30, 2023 ₹ 509.9227
ABB India Limited 1.63 Transport Services
Ferrous Metals InterGlobe Aviation Limited 2.32
Volatility Measures Jindal Steel & Power Limited 1.71 Equity Less Than 1% of Corpus 2.78
Standard Deviation 4.77 Fertilizers & Agrochemicals
Cash and Other Receivables 0.05
PI Industries Limited 2.11
Beta 0.97 Grand Total 100.00
Finance
Sharpe Ratio 0.18 Shriram Finance Limited* 3.88 *Top 10 Holdings
Note: The above measures have been calculated using monthly rolling
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Industry Allocation IDCW History
Portfolio Turnover (Times) 0.49
@ 0.05 % Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Tracking Error Finance 10.58%

Creation Unit Size 10,000 Units Retailing 10.32% 11-Mar-14 1.0000 127.5231 126.5231
Pricing (per unit) (approximately) 1/100th of Index Personal Products 7.39% 09-Jul-09 1.2500 75.3772 74.1272
Aerospace & Defense 6.73% 19-Feb-04 4.0000 352.0260 348.0260
Exchange Listed NSE
Banks 6.04% Bonus
Exchange Symbol JUNIORBEES
Chemicals &
5.10% 19-Feb-04$ 1:4 units
ISIN INF732E01045 Petrochemicals
Past performance may or may not be sustained in future. Pursuant to IDCW
Power 4.74%
Bloomberg Code JBEES IS Equity payment, NAV falls to the extent of payout & statutory levy (if applicable).
Cement & Cement
4.73%
Face Value-₹1.25
Reuters Code JBES.NS & JBES.BO Products $
Face Value ₹10.
Insurance 4.70%
AMFI Classification
Total Expense Ratio^ 0.17 Electrical
Equipment
3.89%

Load structure
Entry Load:Not Applicable Nifty Next 50 TRI - Valuation Measures
Exit Load:Nil
Full market capitalisation (₹ Cr) 4,957,839.60
P/E 23.24
P/B 3.88
Dividend Yield 1.42
www.nseindia.com

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty Next 50 Junior Nifty Next 50 TRI
This product is suitable for investors who are seeking*:
BeES
Long-term capital appreciation
Investment in Securities covered by Nifty Next 50 Index

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

60 December 2023 Fundamentals

Nippon India ETF Nifty 100
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Automobiles Finance
Type of Scheme Mahindra & Mahindra Limited 1.41 Bajaj Finance Limited 1.81
An Open Ended Index Exchange Traded Fund.
Tata Motors Limited 1.40 IT - Software
Current Investment Philosophy Maruti Suzuki India Limited 1.35 Infosys Limited* 4.96
The fund employs a passive investment approach designed to track
Banks Tata Consultancy Services Limited* 3.41
the performance of Nifty 100 TRI. The fund seeks to achieve this goal
by investing in securities constituting Nifty 100 Index in same HDFC Bank Limited* 11.16 HCL Technologies Limited 1.35
proportion as in the Index.
ICICI Bank Limited* 6.25 Petroleum Products
Date of Allotment Axis Bank Limited* 2.84 Reliance Industries Limited* 7.68
March 22, 2013 Kotak Mahindra Bank Limited* 2.46 Pharmaceuticals & Biotechnology
Fund Manager(s) State Bank of India 2.07 Sun Pharmaceutical Industries Limited 1.26
Mehul Dama (Managing Since Nov 2018) Construction Power
Total Experience of more than 18 years
Larsen & Toubro Limited* 3.59 NTPC Limited 1.18
Benchmark Consumer Durables Telecom - Services
Nifty 100 TRI
Titan Company Limited 1.39 Bharti Airtel Limited* 2.44
Fund Size Asian Paints Limited 1.34
Equity Less Than 1% of Corpus 34.63
Monthly Average: ₹ 192.23 Cr
Month End: ₹ 198.04 Cr Diversified FMCG
Cash and Other Receivables 0.16
ITC Limited* 3.68
NAV as on November 30, 2023 ₹ 210.9729 Grand Total 100.00
Hindustan Unilever Limited 2.17
Volatility Measures *Top 10 Holdings
Standard Deviation 3.94 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Beta 0.97
Sharpe Ratio 0.19
Industry Allocation Nifty 100 TRI - Valuation Measures
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL Full market capitalisation (₹ Cr) 20,786,011.95
Banks 26.53%
Overnight MIBOR as on 30/11/2023). P/E 21.92
IT - Software 11.49%
P/B 3.61
Portfolio Turnover (Times) 0.27 Petroleum Products 8.46%
@ 0.05 % Dividend Yield 1.34
Tracking Error Automobiles 6.21%
www.nseindia.com
Creation Unit Size 100,000 Units Diversified FMCG 5.85%
Pricing (per unit) (approximately) 1/100th of Index
Finance 4.30%

Exchange Listed NSE,BSE Construction 3.59%

Pharmaceuticals &
Exchange Symbol NIF100BEES
Biotechnology
3.34%

BSE Scrip Code 537483 Consumer Durables 3.20%

AMFI Classification
ISIN INF204K014N5 Power 3.09%

Bloomberg Code RCNX100 IS Equity

Reuters Code NIPO.NS & NIPO.BO

Total Expense Ratio^ 0.50

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India ETF Nifty 100 Nifty 100 TRI
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of Nifty 100 Index, subject to tracking errors.

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

Fundamentals December 2023 61

Nippon India ETF Nifty India Consumption
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Agricultural Food & other Products Apollo Hospitals Enterprise Limited 2.42
Type of Scheme Tata Consumer Products Limited 2.47 Max Healthcare Institute Limited 2.05
An Open Ended Index Exchange Traded Fund.
Marico Limited 1.21 Leisure Services
Current Investment Philosophy Automobiles The Indian Hotels Company Limited 1.62
The fund employs a passive investment approach designed to track
Mahindra & Mahindra Limited* 6.43 Personal Products
the performance of Nifty India Consumption TRI. The fund seeks to
achieve this goal by investing in securities constituting Nifty India Maruti Suzuki India Limited* 6.15 Godrej Consumer Products Limited 1.66
Consumption Index in same proportion as in the Index.
Bajaj Auto Limited* 3.00 Dabur India Limited 1.37
Date of Allotment Eicher Motors Limited 2.33 Colgate Palmolive (India) Limited 1.28
April 03, 2014 Hero MotoCorp Limited 2.16 Power

Fund Manager(s) Beverages Tata Power Company Limited 1.64

Mehul Dama (Managing Since Nov 2018) Varun Beverages Limited 2.25 Adani Energy Solutions Limited 1.27
Total Experience of more than 18 years
United Spirits Limited 1.33 Realty
Benchmark Consumer Durables DLF Limited 1.69
Nifty India Consumption TRI
Titan Company Limited* 6.34 Retailing
Fund Size Asian Paints Limited* 6.13 Trent Limited* 2.68
Monthly Average: ₹ 36.27 Cr
Havells India Limited 1.42 Avenue Supermarts Limited 2.58
Month End: ₹ 35.26 Cr
Diversified FMCG Info Edge (India) Limited 1.56
NAV as on November 30, 2023 ₹ 98.6125
Hindustan Unilever Limited* 9.73 Telecom - Services
Volatility Measures ITC Limited* 9.33 Bharti Airtel Limited* 10.53
Standard Deviation 4.04
Food Products Equity Less Than 1% of Corpus 0.95
Beta 0.97
Sharpe Ratio 0.25 Nestle India Limited* 3.77
Cash and Other Receivables 0.14
Note: The above measures have been calculated using monthly rolling
Britannia Industries Limited 2.50
returns for 36 months period with 6.9% risk free return (FBIL Grand Total 100.00
Overnight MIBOR as on 30/11/2023). Healthcare Services
*Top 10 Holdings
Portfolio Turnover (Times) 0.52
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Tracking Error@ 0.05 %
Creation Unit Size 60,000 Units
Industry Allocation Nifty India Consumption TRI - Valuation Measures
Pricing (per unit) (approximately) 1/100th of Index
Full market capitalisation (₹ Cr) 5,263,784.06
Automobiles 20.07%
Exchange Listed NSE P/E 42.53
Diversified FMCG 19.06%
Exchange Symbol CONSUMBEES P/B 7.72
Consumer Durables 13.89%
ISIN INF204KA1LD7 Dividend Yield 1.09
Telecom - Services 10.53%
Bloomberg Code RCONSUM IS Equity www.nseindia.com
Retailing 6.81%
Reuters Code NCON.NS
Food Products 6.27%

Total Expense Ratio^ 0.31 Healthcare Services 4.47%

Load structure Personal Products 4.31%

Agricultural Food &
Entry Load:Not Applicable other Products
3.69%
AMFI Classification
Exit Load:Not Applicable Beverages 3.58%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty India Nifty India Consumption TRI
This product is suitable for investors who are seeking*:
Consumption
Long term capital growth
Investment in equity and equity related securities and portfolios
replicating the composition of Nifty India Consumption Index, subject to
tracking errors

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

62 December 2023 Fundamentals

Nippon India ETF Nifty Dividend Opportunities 50
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Aerospace & Defense Food Products
Type of Scheme Bharat Electronics Limited 1.93 Britannia Industries Limited 2.12
An Open Ended Index Exchange Traded Fund.
Hindustan Aeronautics Limited 1.65 Gas
Current Investment Philosophy Automobiles GAIL (India) Limited 1.32
The fund employs a passive investment approach designed to track
Bajaj Auto Limited 2.55 IT - Software
the performance of Nifty Dividend Opportunities 50 TRI. The fund
seeks to achieve this goal by investing in securities constituting Nifty Hero MotoCorp Limited 1.84 Infosys Limited* 9.34
Dividend Opportunities 50 Index in same proportion as in the Index.
Banks Tata Consultancy Services Limited* 9.11
Date of Allotment Canara Bank 1.00 HCL Technologies Limited* 5.25
April 15, 2014
Capital Markets Tech Mahindra Limited* 2.82

Fund Manager(s) BSE Limited 1.24 Oil

Mehul Dama (Managing Since Nov 2018)
Consumable Fuels Oil & Natural Gas Corporation Limited 2.81
Total Experience of more than 18 years
Coal India Limited* 2.89 Personal Products
Benchmark
Diversified FMCG Colgate Palmolive (India) Limited 1.08
Nifty Dividend Opportunities 50 TRI
ITC Limited* 9.23 Petroleum Products
Fund Size
Hindustan Unilever Limited* 8.41 Bharat Petroleum Corporation Limited 1.54
Monthly Average: ₹ 29.68 Cr
Month End: ₹ 31.09 Cr Diversified Metals Indian Oil Corporation Limited 1.52

Vedanta Limited 1.03 Power

NAV as on November 30, 2023 ₹ 62.0201
Ferrous Metals NTPC Limited* 4.59
Volatility Measures
Tata Steel Limited* 3.84 Power Grid Corporation of India Limited* 3.52
Standard Deviation 3.74
Beta 0.96 JSW Steel Limited 2.75 Equity Less Than 1% of Corpus 11.47
Sharpe Ratio 0.37
Finance Cash and Other Receivables 0.59
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL Power Finance Corporation Limited 1.80 Grand Total 100.00
Overnight MIBOR as on 30/11/2023). REC Limited 1.60
*Top 10 Holdings
Portfolio Turnover (Times) 0.20 Bajaj Holdings & Investment Limited 1.18
Tracking Error @ 0.10 %
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Creation Unit Size 75,000 Units
Pricing (per unit) (approximately) 1/100th of Index
Industry Allocation Nifty Dividend Opportunitites 50 TRI - Valuation
Exchange Listed NSE Measures
IT - Software 27.24%
Exchange Symbol DIVOPPBEES Full market capitalisation (₹ Cr) 7,122,250.84
Diversified FMCG 17.64%
ISIN INF204KA1MS3 P/E 15.39
Power 8.66%
Bloomberg Code RDIVOPP IS Equity P/B 3.03
Ferrous Metals 7.09%
Reuters Code NDIV.NS Dividend Yield 3.12
Finance 6.55%
www.nseindia.com
Total Expense Ratio^ 0.37 Automobiles 4.38%

Load structure Petroleum Products 3.88%

Entry Load:Not Applicable Aerospace & Defense 3.58%

Exit Load:Not Applicable Consumable Fuels 2.89%

AMFI Classification
Oil 2.81%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty Dividend Nifty Dividend Opportunities 50
This product is suitable for investors who are seeking*:
Opportunities 50 TRI
Long term capital growth
Investment in equity and equity related securities and portfolios
replicating the composition of Nifty Dividend Opportunities 50 Index,
subject to tracking errors.

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

Fundamentals December 2023 63

Nippon India ETF Nifty Infrastructure BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Agricultural, Commercial & Construction Vehicles Oil & Natural Gas Corporation Limited* 3.39
Type of Scheme Ashok Leyland Limited 1.18 Petroleum Products
An open ended index scheme listed on the Exchange in the form of
Auto Components Reliance Industries Limited* 19.00
an Exchange Traded Fund (ETF) tracking the Nifty Infrastructure
Index. MRF Limited 1.13 Bharat Petroleum Corporation Limited 1.85

Cement & Cement Products Indian Oil Corporation Limited 1.83

Current Investment Philosophy
The fund employs a passive investment approach designed to track UltraTech Cement Limited* 4.62 Power
the performance of Nifty Infrastructure TRI. The fund seeks to achieve
Grasim Industries Limited* 3.29 NTPC Limited* 5.54
this goal by investing in securities constituting the Nifty Infrastructure
Index in same proportion as in the Index. Shree Cement Limited 1.56 Power Grid Corporation of India Limited* 4.25

Ambuja Cements Limited 1.44 Tata Power Company Limited 1.68

Date of Allotment
September 29, 2010 Construction Realty

Larsen & Toubro Limited* 16.76 DLF Limited 1.73

Fund Manager(s)
Mehul Dama (Managing Since Nov 2018) Electrical Equipment Telecom - Services
Total Experience of more than 18 years Bharti Airtel Limited* 11.41
Siemens Limited 1.45
Benchmark Gas Transport Infrastructure
Nifty Infrastructure TRI Adani Ports and Special Economic Zone
GAIL (India) Limited 1.59 2.94
Limited*
Fund Size Healthcare Services
Monthly Average: ₹ 47.24 Cr Transport Services
Apollo Hospitals Enterprise Limited* 2.47
Month End: ₹ 49.51 Cr InterGlobe Aviation Limited 1.49
Industrial Products
NAV as on November 30, 2023 ₹ 683.1517 Equity Less Than 1% of Corpus 6.10
Cummins India Limited 1.15
Volatility Measures Cash and Other Receivables 0.50
Leisure Services
Standard Deviation 4.30 Grand Total 100.00
The Indian Hotels Company Limited 1.66
Beta 0.97
Sharpe Ratio 0.31 Oil *Top 10 Holdings
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Overnight MIBOR as on 30/11/2023).
Industry Allocation Nifty Infrastructure TRI - Valuation Measures
Portfolio Turnover (Times) 0.60
0.07 % Full market capitalisation (₹ Cr) 5,489,567.23
Tracking Error@ Petroleum Products 23.67%
P/E 17.41
Creation Unit Size 5,000 Units Construction 16.76%
Pricing (per unit) (approximately) 1/10th of Index Cement & Cement P/B 2.60
11.58%
Products
Dividend Yield 1.30
Power 11.46%
Exchange Listed NSE www.nseindia.com
Telecom - Services 11.41%
Exchange Symbol INFRABEES
Oil 3.39%
ISIN INF732E01268
Transport
2.94%
Bloomberg Code IBEES IS Equity Infrastructure
Realty 2.68%
Reuters Code IFRB.NS
Leisure Services 2.61%
AMFI Classification
Total Expense Ratio^ 1.03 Healthcare Services 2.47%

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty Infrastructure Nifty Infrastructure TRI
This product is suitable for investors who are seeking*:
BeES
Long-term capital appreciation
Investment in Securities covered by Nifty Infrastructure Index

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

64 December 2023 Fundamentals

Nippon India ETF Nifty Bank BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets
Details as on November 30, 2023
Banks
Type of Scheme HDFC Bank Limited* 29.69
An Open Ended Index Exchange Traded Scheme.
ICICI Bank Limited* 22.78
Current Investment Philosophy Axis Bank Limited* 10.37
The fund employs a passive investment approach designed to track Kotak Mahindra Bank Limited* 9.74
the performance of Nifty Bank TRI. The fund seeks to achieve this
goal by investing in securities constituting the Nifty Bank Index in State Bank of India* 9.30
same proportion as in the Index. IndusInd Bank Limited* 6.43

Date of Allotment Bank of Baroda* 2.47

May 27, 2004 AU Small Finance Bank Limited* 2.40

Fund Manager(s) The Federal Bank Limited* 2.33

Mehul Dama (Managing Since Sep 2021) IDFC First Bank Limited* 1.81
Total Experience of more than 18 years Punjab National Bank 1.55

Benchmark Bandhan Bank Limited 1.13

Nifty Bank TRI
Cash and Other Receivables 0.03
Fund Size Grand Total 100.00
Monthly Average: ₹ 5,944.76 Cr
Month End: ₹ 6,019.66 Cr For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

NAV as on November 30, 2023 ₹ 453.4952

IDCW History
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Volatility Measures
Standard Deviation 5.03 20-Feb-15 13.0000 1923.0249 1910.0249
Beta 0.97 11-Mar-14 11.0000 1220.3525 1209.3525
Sharpe Ratio 0.14
14-Mar-13 18.0000 1220.1859 1202.1859
Note: The above measures have been calculated using monthly rolling
Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
returns for 36 months period with 6.9% risk free return (FBIL Value-₹1 wef. Dec 20, 2019 (Face Value - ₹10 till Dec 19, 2019).
Overnight MIBOR as on 30/11/2023).
Portfolio Turnover (Times) 0.35
Tracking Error@ 0.03 %
Creation Unit Size 10,000 units Nifty Bank TRI - Valuation Measures
Pricing (per unit) (approximately) 1/100th of index Full market capitalisation (₹ Cr) 3,499,417.22
P/E 15.25
Exchange Listed NSE
P/B 2.58
Exchange Symbol BANKBEES
Dividend Yield 0.83
ISIN INF204KB15I9
www.nseindia.com
Bloomberg Code BBEES IS Equity
Reuters Code BBES.NS & BBES.BO

Total Expense Ratio^ 0.19

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty Bank Nifty Bank TRI
This product is suitable for investors who are seeking*:
BeES
Long-term capital appreciation
Investment in Securities covered by Nifty Bank Index

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

Fundamentals December 2023 65

Nippon India ETF Nifty PSU Bank BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets
Details as on November 30, 2023
Banks
Type of Scheme State Bank of India* 31.13
An open ended index scheme, listed on the Exchange in the form of
Bank of Baroda* 17.62
an Exchange Traded Fund (ETF) tracking the Nifty PSU Bank Index.
Canara Bank* 12.99
Current Investment Philosophy
Punjab National Bank* 11.66
The fund employs a passive investment approach designed to track
the performance of Nifty PSU Bank TRI. The fund seeks to achieve Union Bank of India* 9.93
this goal by investing in securities constituting the Nifty PSU Bank Indian Bank* 5.34
Index in same proportion as in the Index.
Bank of India* 4.37
Date of Allotment Bank of Maharashtra* 2.35
October 25, 2007
Indian Overseas Bank* 1.61
Fund Manager(s) Central Bank of India* 1.44
Mehul Dama (Managing Since Nov 2018) UCO Bank 1.22
Total Experience of more than 18 years
Equity Less Than 1% of Corpus 0.30
Benchmark
Nifty PSU Bank TRI Cash and Other Receivables 0.05

Grand Total 100.00

Fund Size
Monthly Average: ₹ 1,512.13 Cr For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Month End: ₹ 1,490.56 Cr
IDCW History
NAV as on November 30, 2023 ₹ 55.9465
Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Volatility Measures 10-Nov-09 6.0000 350.6454 344.6454
Standard Deviation 10.07 Past performance may or may not be sustained in future. Pursuant to IDCW payment, NAV falls to the extent of payout & statutory levy (if applicable). Face
Beta 0.97 Value-₹1 wef. Dec 20, 2019 (Face Value - ₹10 till Dec 19, 2019).
Sharpe Ratio 0.32
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Nifty PSU Bank TRI - Valuation Measures
Portfolio Turnover (Times) 1.07 Full market capitalisation (₹ Cr) 1,153,245.23
Tracking Error@ 0.08 % P/E 7.10
Creation Unit Size 50,000 units P/B 1.15
Pricing (per unit) (approximately) 1/100th of index Dividend Yield 2.12

Exchange Listed NSE www.nseindia.com

Exchange Symbol PSUBNKBEES

ISIN INF204KB16I7
Bloomberg Code PSUBBE IS Equity
Reuters Code PSUB.NS & PSUB.BO

Total Expense Ratio^ 0.49

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty PSU Bank Nifty PSU Bank TRI
This product is suitable for investors who are seeking*:
BeES
Long-term capital appreciation
Investment in Securities covered by Nifty PSU Bank Index

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

66 December 2023 Fundamentals

Nippon India ETF Nifty 50 Shariah BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Agricultural Food & other Products Apollo Hospitals Enterprise Limited 2.17
Type of Scheme Tata Consumer Products Limited 2.21 IT - Software
An Open Ended Index Exchange Traded Scheme.
Automobiles Infosys Limited* 20.25
Current Investment Philosophy Hero MotoCorp Limited 1.94 Tata Consultancy Services Limited* 13.93
The fund employs a passive investment approach designed to track HCL Technologies Limited* 5.53
the performance of Nifty50 Shariah TRI. The fund seeks to achieve Cement & Cement Products
this goal by investing in securities constituting the Nifty50 Shariah UltraTech Cement Limited* 4.06 Tech Mahindra Limited 2.97
Index in same proportion as in the Index. Wipro Limited 2.27
Grasim Industries Limited 2.88
Date of Allotment LTIMindtree Limited 1.97
Consumable Fuels
March 18, 2009 Metals & Minerals Trading
Coal India Limited* 3.04
Fund Manager(s) Adani Enterprises Limited* 3.04
Consumer Durables
Mehul Dama (Managing Since Nov 2018) Oil
Total Experience of more than 18 years Asian Paints Limited* 5.48
Oil & Natural Gas Corporation Limited 2.96
Diversified FMCG
Benchmark Pharmaceuticals & Biotechnology
Nifty50 Shariah TRI Hindustan Unilever Limited* 8.86
Dr. Reddy's Laboratories Limited 2.74
Ferrous Metals
Fund Size Cipla Limited 2.48
Monthly Average: ₹ 15.64 Cr Tata Steel Limited* 4.05
Divi's Laboratories Limited 1.88
Month End: ₹ 15.53 Cr Fertilizers & Agrochemicals
Cash and Other Receivables 0.76
NAV as on November 30, 2023 ₹ 453.3902 UPL Limited 1.12

Food Products Grand Total 100.00

Volatility Measures
Nestle India Limited* 3.39 *Top 10 Holdings
Standard Deviation 4.60
Beta 0.97 Healthcare Services
Sharpe Ratio 0.11
Note: The above measures have been calculated using monthly rolling For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023). Industry Allocation IDCW History
Portfolio Turnover (Times) 0.18 Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
IT - Software 46.94%
Tracking Error@ 0.08 % 11-Mar-14 2.0000 148.8451 146.8451
Diversified FMCG 8.86%
Creation Unit Size 10,000 Units Pharmaceuticals & Past performance may or may not be sustained in future. Pursuant to IDCW
7.10% payment, NAV falls to the extent of payout & statutory levy (if applicable).
Pricing (per unit) (approximately) 1/10th of Index Biotechnology
Face Value-₹10.
Cement & Cement
6.94%
Products
Exchange Listed NSE Consumer Durables 5.48%
Exchange Symbol SHARIABEES Ferrous Metals 4.05%
ISIN INF732E01128 Food Products 3.39%
Nifty50 Shariah TRI - Valuation Measures
Bloomberg Code SBEES IS Equity
Consumable Fuels 3.04% Full market capitalisation (₹ Cr) 5,728,892.97
Reuters Code SBET.NS & SBET.BO Metals & Minerals
3.04%
Trading P/E 26.24
AMFI Classification

Total Expense Ratio^ 0.96 Oil 2.96% P/B 4.58

Load structure Dividend Yield 2.21
Entry Load:Not Applicable www.nseindia.com
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty 50 Shariah Nifty50 Shariah TRI
This product is suitable for investors who are seeking*:
BeES
Long-term capital appreciation
Investment in Securities covered by Nifty50 Shariah Index

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

Fundamentals December 2023 67

Nippon India ETF Nifty Midcap 150
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Agricultural, Commercial & Construction Vehicles KPIT Technologies Limited 1.01
Type of Scheme Ashok Leyland Limited 1.10 Industrial Products
An Open-ended Index Exchange Traded Fund.
Auto Components APL Apollo Tubes Limited 1.23
Current Investment Philosophy Tube Investments of India Limited* 1.47 Supreme Industries Limited 1.20
The fund employs a passive investment approach designed to track Bharat Forge Limited 1.20
the performance of Nifty Midcap 150 TRI. The fund seeks to achieve Banks
this goal by investing in securities constituting Nifty Midcap 150 AU Small Finance Bank Limited* 1.49 Cummins India Limited 1.09
Index in same proportion as in the Index. Polycab India Limited 1.02
The Federal Bank Limited* 1.45
Date of Allotment Yes Bank Limited* 1.42 Insurance
January 31, 2019 Max Financial Services Limited 1.00
IDFC First Bank Limited 1.13

Fund Manager(s) Capital Markets Leisure Services

Mehul Dama (Managing Since Jan 2019) The Indian Hotels Company Limited* 1.55
HDFC Asset Management Company Limited 1.25
Total Experience of more than 18 years
Electrical Equipment Pharmaceuticals & Biotechnology
Benchmark Lupin Limited 1.29
CG Power and Industrial Solutions Limited 1.20
Nifty Midcap 150 TRI
Finance Aurobindo Pharma Limited 1.23
Fund Size Power
Power Finance Corporation Limited* 2.03
Monthly Average: ₹ 985.24 Cr
Month End: ₹ 1,014.27 Cr REC Limited* 1.81 Adani Power Limited* 1.39

Healthcare Services Retailing

NAV as on November 30, 2023 ₹ 163.4586
Max Healthcare Institute Limited* 1.96 FSN E-Commerce Ventures Limited 1.01
Volatility Measures Equity Less Than 1% of Corpus 65.33
IT - Software
Standard Deviation 4.47
Beta 0.97 Coforge Limited* 1.46 Cash and Other Receivables 0.09
Sharpe Ratio 0.38 Persistent Systems Limited 1.36
Note: The above measures have been calculated using monthly rolling Grand Total 100.00
returns for 36 months period with 6.9% risk free return (FBIL Tata Elxsi Limited 1.20
*Top 10 Holdings
Overnight MIBOR as on 30/11/2023).
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Portfolio Turnover (Times) 0.87
Tracking Error @ 0.08 %
Industry Allocation Nifty Midcap 150 TRI - Valuation Measures
Creation Unit Size 35,000 Units Full market capitalisation (₹ Cr) 6,147,055.95
Pricing (per unit) (approximately) 1/100th of Index Industrial Products 9.09%
P/E 24.85
Finance 9.02%
Exchange Listed NSE P/B 3.79
Banks 7.89%
Exchange Symbol MID150BEES Pharmaceuticals & Dividend Yield 0.93
7.39%
Biotechnology
ISIN INF204KB1V68 www.nseindia.com
Auto Components 7.35%
Bloomberg Code RENM150 IS Equity
IT - Software 6.25%
Reuters Code NTFM.NS Chemicals &
4.51%
Petrochemicals
4.43%
Total Expense Ratio^ 0.21 Consumer Durables

Realty 3.98%
Load structure AMFI Classification
3.77%
Entry Load:Not Applicable Healthcare Services

Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty Midcap Nifty Midcap 150 TRI
This product is suitable for investors who are seeking*:
150
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of Nifty Midcap 150 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

68 December 2023 Fundamentals

Nippon India ETF Hang Seng BeES
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Automobile Manufacturers Xiaomi Corporation* 2.60
Type of Scheme BYD Company Limited - H shares 2.08 Wireless Telecommunication Services
An open ended index Scheme, investing in overseas Securities listed
Diversified Banks China Mobile Ltd* 3.69
on the Exchange in the form of an Exchange Traded Fund (ETF)
tracking the Hang Seng Index. Bank Of China Ltd 2.28 Restaurants

Current Investment Philosophy China Construct BK-H* 4.65 Meituan* 4.84

The fund employs a passive investment approach designed to track HSBC HOLDINGS PLC* 8.74 Broadline Retail
the performance of Hang Seng TRI. The fund seeks to achieve this
Industrial and Commercial Bank of China Ltd* 2.62 Alibaba Group Holding Limited* 6.91
goal by investing in securities constituting the Hang Seng Index in
same proportion as in the Index. China Merchants Bank Co. Ltd. - H Shares 1.01 JD.com Inc 1.76
Diversified Real Estate Activities Electric Utilities
Date of Allotment
March 09, 2010 Sun Hung Kai Properties 1.06 CLP Holdings Ltd 1.17
Financial Exchanges & Data Industrial Machinery & Supplies & Components
Fund Manager(s)
Kinjal Desai (Managing Since May 2018)1 Hong Kong Exchanges and Clearing Ltd* 3.17 Techtronic Industries Co Ltd. 1.17
Total Experience of more than 10 years
Interactive Media & Services Integrated Oil & Gas
Siddharth Deb (Managing Since Nov 2016)2
Total Experience of more than 16 years Tencent Holdings Ltd* 8.58 Petrochina Company Ltd 1.03
Akshay Sharma (Managing Since Dec 2022)1
Life & Health Insurance Apparel, Accessories and Luxury Goods
Total Experience of more than 7 years
AIA Group Ltd* 7.42 Anta Sports Products Limited 1.10
Benchmark
Ping An Insurance Group Co Of China Ltd 2.29 Interactive Home Entertainment
Hang Seng TRI
Life Sciences Tools & Services Netease Inc 1.16
Fund Size
WuXi Biologics (Cayman) Inc. 1.57 Equity Less Than 1% of Corpus 26.74
Monthly Average: ₹ 223.39 Cr
Month End: ₹ 222.33 Cr Oil & Gas Exploration & Production
Cash and Other Receivables 0.42
NAV as on November 30, 2023 ₹ 251.5998 Cnooc Ltd 1.94
Grand Total 100.00
Technology Hardware, Storage & Peripherals
Volatility Measures *Top 10 Holdings
Standard Deviation 6.96 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Beta 0.96
Sharpe Ratio -0.16
Note: The above measures have been calculated using monthly rolling Industry Allocation Hang Seng TRI - Valuation Measures
returns for 36 months period with 6.9% risk free return (FBIL Diversified Banks 20.67%
Full market capitalisation (₹ Cr) 21,490,098.36
Overnight MIBOR as on 30/11/2023). Life & Health P/E 10.27
10.46%
Insurance
Portfolio Turnover (Times) 0.12 Interactive Media &
Dividend Yield 3.90
9.36%
Services
@ 0.22 % S&P/MSCI Classification
Tracking Error Broadline Retail 8.68%
Creation Unit Size 25,000 units
Restaurants 5.12%
Pricing (per unit) (approximately) 1/1000th of Index Wireless
Telecommunication 3.69%
Services
Exchange Listed NSE Technology
Hardware, Storage & 3.32%
Exchange Symbol HNGSNGBEES Peripherals
Financial Exchanges
GICS Sub-Industry Classification.

3.17%
& Data
ISIN INF204KB19I1
Real Estate
2.64%
Bloomberg Code HSBEES IS Equity Development
Automobile
2.57%
Reuters Code HNGS.NS & HNGS.BO Manufacturers

Total Expense Ratio^ 0.93

Load structure
Entry Load:Not Applicable
Exit Load:Nil

1
For foreign securities
2
For debt securities

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Hang Seng Hang Seng TRI
This product is suitable for investors who are seeking*:
BeES
Long-term capital appreciation
Investment in Securities covered by Hang Seng Index

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

Fundamentals December 2023 69

Nippon India ETF S&P BSE Sensex Next 50
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023 Aerospace & Defense Healthcare Services
Bharat Electronics Limited* 3.03 Max Healthcare Institute Limited* 2.76
Type of Scheme Agricultural Food & other Products IT - Software
An Open Ended Index Exchange Traded Fund. Marico Limited 1.62 LTIMindtree Limited* 2.95
Agricultural, Commercial & Construction Vehicles Tata Elxsi Limited 1.67
Current Investment Philosophy Ashok Leyland Limited 1.53 MphasiS Limited 1.14
The fund employs a passive investment approach designed to track Auto Components
the performance of S&P BSE Sensex Next 50 TRI. The fund seeks to Industrial Products
Tube Investments of India Limited 2.04 Bharat Forge Limited 1.67
achieve this goal by investing in securities constituting the S&P BSE
Banks Insurance
Sensex Next 50 Index in same proportion as in the Index.
Bank of Baroda 2.13 ICICI Lombard General Insurance Company
2.03
Date of Allotment AU Small Finance Bank Limited 2.07 Limited
July 30, 2019 The Federal Bank Limited 2.01 ICICI Prudential Life Insurance Company Limited 1.27
Beverages Leisure Services
Fund Manager(s) Varun Beverages Limited* 3.00 The Indian Hotels Company Limited 2.16
Mehul Dama (Managing Since July 2019) United Spirits Limited 1.82 Jubilant Foodworks Limited 1.25
Total Experience of more than 18 years
Cement & Cement Products Indian Railway Catering And Tourism Corporation
1.25
Benchmark Ambuja Cements Limited 1.87 Limited
Shree Cement Limited 1.51 Personal Products
S&P BSE Sensex Next 50 TRI
Chemicals & Petrochemicals Godrej Consumer Products Limited 2.22
Fund Size Pidilite Industries Limited 2.26 Colgate Palmolive (India) Limited 1.69
Monthly Average: ₹ 26.54 Cr SRF Limited 2.00 Petroleum Products
Month End: ₹ 27.46 Cr Consumer Durables Indian Oil Corporation Limited 2.47
Havells India Limited 1.90 Pharmaceuticals & Biotechnology
NAV as on November 30, 2023 ₹ 62.0645 Lupin Limited 1.79
Voltas Limited 1.11
Power
Volatility Measures Crompton Greaves Consumer Electricals Limited 1.06
Tata Power Company Limited* 2.64
Standard Deviation 4.65 Diversified Metals
Vedanta Limited 1.61 Adani Power Limited 1.93
Beta 0.97
Electrical Equipment Realty
Sharpe Ratio 0.26
Note: The above measures have been calculated using monthly rolling Siemens Limited 1.89 DLF Limited 2.25
returns for 36 months period with 6.9% risk free return (FBIL Entertainment Retailing
Overnight MIBOR as on 30/11/2023). Zee Entertainment Enterprises Limited 1.41 Zomato Limited* 3.74
Fertilizers & Agrochemicals Trent Limited* 3.62
Portfolio Turnover (Times) 0.24
PI Industries Limited 1.76 Avenue Supermarts Limited* 3.43
Tracking Error @ 0.09 %
Finance Info Edge (India) Limited 1.97
Creation Unit Size 110,000 Units Shriram Finance Limited* 3.24 Textiles & Apparels
Pricing (per unit) (approximately) 1/1000th of Index
Cholamandalam Investment and Finance Page Industries Limited 1.30
2.56
Company Ltd* Transport Services
Exchange Listed BSE
Bajaj Holdings & Investment Limited 1.85 InterGlobe Aviation Limited 1.94
BSE Scrip Code 542747
SBI Cards and Payment Services Limited 1.26 Equity Less Than 1% of Corpus 1.87
ISIN INF204KB15D0
Gas Cash and Other Receivables 0.37
Bloomberg Code RESENN50 IB Equity
GAIL (India) Limited 2.06 Grand Total 100.00
Reuters Code NIPN.BO
*Top 10 Holdings
Total Expense Ratio^ 0.23 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Load structure
Entry Load:Not Applicable Industry Allocation S&P BSE Sensex Next 50 Index - Valuation Measures
Exit Load:Not Applicable
Full market capitalisation (₹ Cr) 4,118,004.89
Retailing 12.77%
P/E 26.93
Finance 8.91%
P/B 4.07
Banks 7.21%
Dividend Yield 1.50
IT - Software 5.76%
www.bseindia.com
Beverages 4.82%

Leisure Services 4.65%

Power 4.57%
Cement & Cement
4.26%
Products
Chemicals &
4.26%
Petrochemicals
AMFI Classification
Consumer Durables 4.07%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF S&P BSE Sensex S&P BSE Sensex Next 50 TRI
This product is suitable for investors who are seeking*:
Next 50
Long term capital appreciation
Investment in equity and equity related securities and portfolios
replicating the composition of S&P BSE SENSEX Next 50 Index, subject
to tracking errors

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

70 December 2023 Fundamentals

Nippon India ETF Nifty IT
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets
Details as on November 30, 2023
IT - Services
Type of Scheme L&T Technology Services Limited* 1.85
An open ended scheme replicating/ tracking NIFTY IT Index.
IT - Software
Current Investment Philosophy Infosys Limited* 26.76
The fund employs a passive investment approach designed to track
Tata Consultancy Services Limited* 24.89
the performance of Nifty IT TRI. The fund seeks to achieve this goal
by investing in securities constituting the Nifty IT Index in same HCL Technologies Limited* 9.89
proportion as in the Index.
Tech Mahindra Limited* 8.86
Date of Allotment Wipro Limited* 8.23
June 26, 2020 LTIMindtree Limited* 7.18

Fund Manager(s) Coforge Limited* 4.94

Mehul Dama (Managing Since June 2020) Persistent Systems Limited* 4.59
Total Experience of more than 18 years
MphasiS Limited* 2.76
Benchmark Cash and Other Receivables 0.04
NIFTY IT TRI
Grand Total 100.00
Fund Size
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Monthly Average: ₹ 1,844.44 Cr
Month End: ₹ 1,889.52 Cr
Nifty IT TRI - Valuation Measures
NAV as on November 30, 2023 ₹ 34.4416 Full market capitalisation (₹ Cr) 2,921,939.88
P/E 27.43
Volatility Measures
P/B 7.10
Standard Deviation 5.94
Beta 0.97 Dividend Yield 2.48
Sharpe Ratio 0.14 www.nseindia.com
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Portfolio Turnover (Times) 0.40
Tracking Error@ 0.05 %
Creation Unit Size 100,000 units
Pricing (per unit) (approximately) 1/1000th of Index

Exchange Listed NSE

Exchange Symbol ITBEES
ISIN INF204KB15V2
Bloomberg Code NIPNIFIT IN Equity
Reuters Code NA

Total Expense Ratio^ 0.22

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India ETF Nifty IT NIFTY IT TRI
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of NIFTY IT Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

Fundamentals December 2023 71

Nippon India Nifty Pharma ETF
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Pharmaceuticals & Biotechnology Abbott India Limited 2.31
Type of Scheme Sun Pharmaceutical Industries Limited* 24.33 Gland Pharma Limited 2.26
An open ended scheme replicating/ tracking NIFTY Pharma Index. Glenmark Pharmaceuticals Limited 2.14
Dr. Reddy's Laboratories Limited* 12.96
Current Investment Philosophy Cipla Limited* 11.69 Biocon Limited 1.95
The fund employs a passive investment approach designed to track Divi's Laboratories Limited* 8.87 Sanofi India Limited 1.33
the performance of Nifty Pharma TRI. The fund seeks to achieve this
goal by investing in securities constituting the Nifty Pharma Index in Lupin Limited* 5.68 Natco Pharma Limited 1.33
same proportion as in the Index. Aurobindo Pharma Limited* 5.39 GlaxoSmithKline Pharmaceuticals Limited 1.24

Date of Allotment Alkem Laboratories Limited* 4.26 Pfizer Limited 1.13

July 02, 2021 Torrent Pharmaceuticals Limited* 3.57 Equity Less Than 1% of Corpus 1.00

Fund Manager(s) Zydus Lifesciences Limited* 2.97 Cash and Other Receivables 0.04
Mehul Dama (Managing Since Jul 2021) IPCA Laboratories Limited* 2.80
Grand Total 100.00
Total Experience of more than 18 years Laurus Labs Limited 2.75
*Top 10 Holdings
Benchmark
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Nifty Pharma TRI

Fund Size Nifty Pharma TRI - Valuation Measures

Monthly Average: ₹ 462.59 Cr Full market capitalisation (₹ Cr) 1,170,473.05
Month End: ₹ 485.75 Cr P/E 32.71

NAV as on November 30, 2023 ₹ 16.4937 P/B 4.42

Dividend Yield 0.81
Portfolio Turnover (Times) 0.21 www.nseindia.com
Tracking Error@ 0.02 %
Creation Unit Size 75,000 Units
Pricing (per unit) (approximately) 1/1000th of Index

Exchange Listed NSE

Exchange Symbol PHARMABEES
ISIN INF204KC1089
Bloomberg Code NIFPHETF IN Equity
Reuters Code NA

Total Expense Ratio^ 0.21

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Nifty Pharma ETF Nifty Pharma TRI
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of Nifty Pharma Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

72 December 2023 Fundamentals

Nippon India Nifty Auto ETF
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets Company / Issuer % of Assets
Details as on November 30, 2023
Agricultural, Commercial & Construction Vehicles Maruti Suzuki India Limited* 17.08
Type of Scheme Ashok Leyland Limited* 3.19 Tata Motors Limited* 15.07
An open ended scheme replicating/ tracking Nifty Auto Index. Bajaj Auto Limited* 8.35
Auto Components
Current Investment Philosophy Tube Investments of India Limited* 4.26 Eicher Motors Limited* 6.46
The fund employs a passive investment approach designed to track Hero MotoCorp Limited* 6.01
Sona BLW Precision Forgings Limited 2.77
the performance of Nifty Auto TRI. The fund seeks to achieve this goal
by investing in securities constituting the Nifty Auto Index in same MRF Limited 2.75 TVS Motor Company Limited* 5.26
proportion as in the Index. Industrial Products
Samvardhana Motherson International Limited 2.64
Date of Allotment Balkrishna Industries Limited 2.47 Bharat Forge Limited* 3.47
January 20, 2022 Bosch Limited 2.24 Cash and Other Receivables 0.11
Fund Manager(s) Automobiles Grand Total 100.00
Mehul Dama (Managing Since Jan 2022) Mahindra & Mahindra Limited* 17.87
Total Experience of more than 18 years *Top 10 Holdings

For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Benchmark
Nifty Auto TRI
Nifty Auto TRI - Valuation Measures
Fund Size Full market capitalisation (₹ Cr) 1,630,897.80
Monthly Average: ₹ 73.23 Cr P/E 24.68
Month End: ₹ 76.23 Cr P/B 5.00
Dividend Yield 0.96
NAV as on November 30, 2023 ₹ 178.2096
www.nseindia.com
Portfolio Turnover (Times) 0.45
Tracking Error@ 0.04 %
Creation Unit Size 25,000 Units
Pricing (per unit) (approximately) 1/100th of Index

Exchange Listed NSE

Exchange Symbol AUTOBEES
ISIN INF204KC1337
Bloomberg Code NA
Reuters Code NA

Total Expense Ratio^ 0.22

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Nifty Auto ETF Nifty Auto TRI
Long term capital growth
Investment in equity and equity related securities and portfolios replicating
the composition of Nifty Auto Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

Fundamentals December 2023 73

CPSE ETF
Portfolio as on November 30, 2023
Equity - ETF
Company/Issuer % of Assets
Details as on November 30, 2023
Aerospace & Defense
Type of Scheme Bharat Electronics Limited* 12.48
An Open-ended Index Exchange Traded Fund.
Construction
Current Investment Philosophy NBCC (India) Limited* 1.24
The fund employs a passive investment approach designed to track
Consumable Fuels
the performance of Nifty CPSE TRI. The fund seeks to achieve this
goal by investing in securities constituting the Nifty CPSE Index in Coal India Limited* 18.63
same proportion as in the Index.
Industrial Manufacturing
Date of Allotment Cochin Shipyard Limited* 1.02
March 28, 2014
Oil
Fund Manager(s) Oil & Natural Gas Corporation Limited* 18.15
Mehul Dama (Managing Since Sep 2021)
Oil India Limited* 2.61
Total Experience of more than 18 years
Power
Benchmark
NTPC Limited* 19.69
Nifty CPSE TRI
Power Grid Corporation of India Limited* 19.06
Fund Size
NHPC Limited* 3.52
Monthly Average: ₹ 26,327.30 Cr
Month End: ₹ 27,483.13 Cr SJVN Limited* 1.43

Equity Less Than 1% of Corpus 0.90

NAV as on November 30, 2023 ₹ 58.3384
Cash and Other Receivables 1.26
Volatility Measures
Standard Deviation 5.99 Grand Total 100.00
Beta 0.97
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Sharpe Ratio 0.47
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL Industry Allocation Nifty CPSE TRI - Valuation Measures
Overnight MIBOR as on 30/11/2023). Full market capitalisation (₹ Cr) 1,184,759.32
Power 44.61%
Portfolio Turnover (Times) 0.17 P/E 9.28

Tracking Error@ 0.10 % P/B 1.78

Oil 20.76%
Creation Unit Size 100,000 Units Dividend Yield 4.60
Pricing (per unit) (approximately) 1/100th of Index Consumable Fuels 18.63% www.nseindia.com

Exchange Listed NSE,BSE Aerospace & Defense 12.48%

Exchange Symbol CPSEETF
BSE Scrip Code 538057 Construction 1.24%

ISIN INF457M01133
Industrial AMFI Classification
1.02%
Manufacturing
Bloomberg Code CPSEBE IS Equity
Reuters Code GOMS.NS & GOMS.BO

Total Expense Ratio^ 0.05

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: CPSE ETF Nifty CPSE TRI
Long term capital appreciation
Investment in Securities covered by the Nifty CPSE Index

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

74 December 2023 Fundamentals

Nippon India ETF Nifty 1D Rate Liquid BeES
Fixed Income - ETF Portfolio as on November 30, 2023
Details as on November 30, 2023
Company/Issuer % of Assets
Type of Scheme
An open ended liquid scheme, listed on the Exchange in the form of Tri-Party Repo 99.62
an ETF, investing in Tri-Party Repo on G-Sec or T-bills /Repo &
Reverse Repo with daily Dividend and compulsory Reinvestment of Cash & Other Receivables 0.38
Income Distribution cum capital withdrawal option. Relatively Low
Interest Rate Risk and Relatively Low Credit Risk. Grand Total 100.00

Current Investment Philosophy For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

The fund will invest only in Tri-Party Repo, Repos, Reverse Repos and Rating Profile Asset Allocation
other Money Market Instruments.
Date of Allotment
July 08, 2003
AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 0.38%
Tri-Party Repo : 99.62%
Fund Manager(s) Receivables : 100.00%

Siddharth Deb (Managing Since Nov 2012)

Total Experience of more than 16 years
Benchmark
Nifty 1D Rate Index
Fund Size PRC Matrix
Monthly Average: ₹ 10,176.55 Cr Potential Risk Class
Month End: ₹ 9,929.23 Cr
Credit Risk→ Relatively
Relatively Low Moderate
High
NAV as on November 30, 2023 ₹ 1,000.0000 Interest Rate (Class A) (Class B)
(Class C)
Risk↓
Tracking Error@ 0.03 %
Relatively Low
A-I
Creation Unit Size 2500 Units (Class I)

Exchange Listed NSE Moderate

(Class II)
Exchange Symbol LIQUIDBEES
ISIN INF732E01037 Relatively High
(Class III)
Bloomberg Code LBEES IS Equity
Reuters Code LBES.NS & LBES.BO
Average Maturity 1.00 Days
Modified Duration 0.00 Days
Macaulay Duration 0 Days
Total Expense Ratio^ 0.69

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty 1D Rate Liquid Nifty 1D Rate Index
This product is suitable for investors who are seeking*:
BeES
Current Income with high degree of liquidity
Investment in Tri-Party Repo on G-Sec or T-bills/Repo & Reverse Repo
predominantly & Money Market Instruments.

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.
Please refer page no. 119 for explanation on various
symbols mentioned on the page

Fundamentals December 2023 75

Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt
Fixed Income - ETF Portfolio as on November 30, 2023
Details as on November 30, 2023
Company/Issuer % of Assets
Type of Scheme
An Open Ended Index Exchange Traded Fund. Relatively High interest Government Bond 97.52
rate risk and Relatively Low Credit Risk.
7.18% GOI (MD 14/08/2033) 50.48
Current Investment Philosophy
7.26% GOI (MD 06/02/2033) 24.69
The fund employs a passive investment approach designed to track
the performance of Nifty 8-13 yr G-Sec Index. The fund seeks to 7.26% GOI (MD 22/08/2032) 22.35
achieve this goal by investing in securities constituting Nifty 8-13 yr
G Sec Index in same proportion as in the Index. Cash and Other Receivables 2.48

Date of Allotment Grand Total 100.00

July 05, 2016
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Fund Manager(s)
Rating Profile Asset Allocation
Pranay Sinha (Managing Since Mar 2021)
Total Experience of more than 17 years
Siddharth Deb (Managing Since Mar 2021)
Total Experience of more than 16 years Cash & Other Receivables : 2.48%
AAA/SOV/A1+/Cash & Other
Receivables : 100.00% Government Bond : 97.52%
Benchmark
Nifty 8-13 yr G-Sec Index
Fund Size
Monthly Average: ₹ 1,436.38 Cr
Month End: ₹ 1,452.20 Cr
PRC Matrix
NAV as on November 30, 2023 ₹ 24.5089 Potential Risk Class
Tracking Error@ 0.14 %
Credit Risk→ Relatively
Creation Unit Size 250,000 Units Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
Pricing (per unit) (approximately) 1/100th of Index Risk↓ (Class C)

Exchange Listed NSE Relatively Low

Exchange Symbol LTGILTBEES (Class I)
ISIN INF204KB1882 Moderate
Bloomberg Code RELGILT IS Equity (Class II)
Reuters Code NTFL.NS Relatively High
A-III
(Class III)
Average Maturity 9.32 Years
Modified Duration 6.54 Years
Annualized portfolio YTM* 7.44%
Macaulay Duration 6.78 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^ 0.10

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty 8-13 yr G-Sec Long Nifty 8-13 yr G-Sec Index
This product is suitable for investors who are seeking*:
Term Gilt
Income over long term
Investments in Gilt Securities replicating the composition of Nifty
8-13 yr G-Sec Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

whether the product is suitable for them.
Please refer page no. 119 for explanation on various
symbols mentioned on the page

76 December 2023 Fundamentals

Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50:50
Fixed Income - ETF Portfolio as on November 30, 2023
Details as on November 30, 2023
Company/Issuer Rating % of Assets Company/Issuer Rating % of Assets
Type of Scheme
Corporate Bond 49.72 State Government Bond 47.73
An open-ended Target Maturity Exchange Traded CPSE Bond Plus SDL
National Bank For Agriculture ICRA AAA/ 8.77 State Government Securities SOV 47.73
Fund predominately investing in constituents of Nifty CPSE Bond Plus
and Rural Development CRISIL AAA
SDL Sep 2024 50:50 Index. Moderate interest rate risk and Relatively Cash & Other Receivables 2.25
NTPC Limited CRISIL AAA 8.64
Low Credit Risk. Power Finance Corporation CRISIL AAA 7.93 Grand Total 100.00
Current Investment Philosophy Limited
REC Limited CRISIL AAA *Top 10 Holdings
The fund employs a passive approach designed to track the 7.78
performance of Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index. The Power Grid Corporation of India CRISIL AAA 7.48
Scheme will invest 95% to 100% in Bonds issued by Limited
Hindustan Petroleum CRISIL AAA 7.29
CPSEs/CPSUs/CPFIs and other Government organizations
Corporation Limited
representing the bonds portion of Nifty CPSE Bond Plus SDL Sep
Export Import Bank of India CRISIL AAA 0.92
2024 50:50 Index and in State Development Loans (SDLs)
NHPC Limited CARE AAA 0.91
representing the SDL portion of Nifty CPSE Bond Plus SDL Sep 2024
50:50 Index. The fund may also invest in money market instruments
Date of Allotment
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
November 13, 2020
Rating Profile Asset Allocation
Fund Manager(s)
Vivek Sharma (Managing Since Mar 2021)
Total Experience of more than 17 years
Siddharth Deb (Managing Since Mar 2021) Cash & Other Receivables : 2.55%
AAA/SOV/A1+/Cash & Other State Government Bond : 47.73%
Total Experience of more than 16 years Receivables : 100.00% Corporate Bond : 49.72%

Benchmark
Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index
Fund Size
Monthly Average: ₹ 1,633.22 Cr
Month End: ₹ 1,637.71 Cr PRC Matrix
Potential Risk Class
NAV as on November 30, 2023 ₹ 117.3918
Credit Risk→ Relatively
Tracking Error@ 0.33 % Relatively Low Moderate
High
Interest Rate (Class A) (Class B)
Creation Unit Size 230,000 units
Risk↓ (Class C)
Pricing (per unit) (approximately) 1/10th of Index
Relatively Low
Exchange Listed NSE (Class I)
Exchange Symbol SDL24BEES Moderate
A-II
ISIN INF204KB18W4 (Class II)
Bloomberg Code NNIFCP24 IN Equity Relatively High
Reuters Code NA (Class III)

Average Maturity 0.69 Years

Modified Duration 0.64 Years
Annualized portfolio YTM* 7.52%
Macaulay Duration 0.68 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^ 0.20

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty CPSE Bond Plus Nifty CPSE Bond Plus SDL Sep 2024
This product is suitable for investors who are seeking*:
SDL Sep 2024 50:50 50:50 Index
Income over long term
Investments in CPSE Bonds & State Development Loans
(SDL) similar to the composition of Nifty CPSE Bond Plus SDL
Sep 2024 50:50 Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

whether the product is suitable for them.
Please refer page no. 119 for explanation on various
symbols mentioned on the page

Fundamentals December 2023 77

Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight
Fixed Income - ETF Portfolio as on November 30, 2023
Details as on November 30, 2023
Company/Issuer % of Assets
Type of Scheme
An open-ended Target Maturity Exchange Traded SDL Fund State Government Bond 97.34
predominately investing in constituents of Nifty SDL Apr 2026 Top 20
Equal Weight Index. Moderate interest rate risk and Relatively Low State Government Securities 97.34
Credit Risk. Cash and Other Receivables 2.66
Current Investment Philosophy
Grand Total 100.00
The fund employs a passive approach designed to track the
performance of Nifty SDL Apr 2026 Top 20 Equal Weight Index. The For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
fund will invest 95% to 100% in State Development Loans (SDLs). The
Scheme may also invest in money market instruments Rating Profile Asset Allocation
Date of Allotment
March 25, 2021
AAA/SOV/A1+/Cash & Other Cash & Other Receivables : 2.66%
Fund Manager(s) Receivables : 100.00% State Government Bond : 97.34%
Vivek Sharma (Managing Since Mar 2021)
Total Experience of more than 17 years
Siddharth Deb (Managing Since Mar 2021)
Total Experience of more than 16 years
Benchmark
Nifty SDL Apr 2026 Top 20 Equal Weight Index PRC Matrix

Fund Size Potential Risk Class

Monthly Average: ₹ 7,623.32 Cr Credit Risk→ Relatively
Month End: ₹ 7,466.04 Cr Relatively Low Moderate
High
Interest Rate (Class A) (Class B)
Risk↓ (Class C)
NAV as on November 30, 2023 ₹ 116.5858
Relatively Low
@ 0.72 % (Class I)
Tracking Error
Creation Unit Size 500,000 units Moderate
A-II
(Class II)
Pricing (per unit) (approximately) 1/10th of Index
Relatively High
Exchange Listed NSE (Class III)
Exchange Symbol SDL26BEES
ISIN INF204KC1022
Bloomberg Code NETFSD26 IN Equity
Reuters Code NA
Average Maturity 2.08 Years
Modified Duration 1.84 Years
Annualized portfolio YTM* 7.67%
Macaulay Duration 1.91 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^ 0.20

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty SDL Apr 2026 Top Nifty SDL Apr 2026 Top 20 Equal
This product is suitable for investors who are seeking*:
20 Equal Weight Weight Index
Income over long term
Investments in State Development Loans (SDL) similar to the
composition of Nifty SDL Apr 2026 Top 20 Equal Weight
Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

whether the product is suitable for them.
Please refer page no. 119 for explanation on various
symbols mentioned on the page

78 December 2023 Fundamentals

Nippon India ETF Nifty 5 yr Benchmark G-Sec
Fixed Income - ETF Portfolio as on November 30, 2023
Details as on November 30, 2023
Company/Issuer % of Assets
Type of Scheme
An open ended scheme replicating/tracking Nifty 5 yr Benchmark G- Government Bond 98.77
Sec Index. Relatively High interest rate risk and Relatively Low Credit
Risk. 7.06% GOI (MD 10/04/2028) 98.77

Current Investment Philosophy Cash and Other Receivables 1.23

The fund employs a passive approach designed to track the
Grand Total 100.00
performance of Nifty 5 Yr Benchmark G-sec Index. It will invest
mainly in securities constituting Nifty 5 Yr Benchmark G-Sec Index For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
which has the portfolio of Government Securities.
Rating Profile Asset Allocation
Date of Allotment
April 05, 2021
Fund Manager(s) Cash & Other Receivables : 1.23%
AAA/SOV/A1+/Cash & Other
Pranay Sinha (Managing Since Apr 2021) Receivables : 100.00% Government Bond : 98.77%
Total Experience of more than 17 years
Siddharth Deb (Managing Since Apr 2021)
Total Experience of more than 16 years
Benchmark
Nifty 5 Yr Benchmark G-Sec Index
PRC Matrix
Fund Size
Monthly Average: ₹ 153.68 Cr Potential Risk Class
Month End: ₹ 154.67 Cr Credit Risk→ Relatively
Relatively Low Moderate
Interest Rate High
(Class A) (Class B)
NAV as on November 30, 2023 ₹ 53.6032 Risk↓ (Class C)
@ 0.05 %
Tracking Error Relatively Low
(Class I)
Creation Unit Size 200,000 units
Moderate
Pricing (per unit) (approximately) 1/100th of Index (Class II)
Exchange Listed NSE Relatively High
A-III
Exchange Symbol GILT5YBEES (Class III)
ISIN INF204KC1030
Bloomberg Code NETF5YGL IN Equity
Reuters Code NA
Average Maturity 4.35 Years
Modified Duration 3.65 Years
Annualized portfolio YTM* 7.39%
Macaulay Duration 3.78 Years
*In case of semi annual YTM, it has been
annualised.
Total Expense Ratio^ 0.09

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Product Label Fund Riskometer Benchmark Riskometer

Nippon India ETF Nifty 5 yr Benchmark Nifty 5 Yr Benchmark G-Sec
This product is suitable for investors who are seeking*:
G-Sec Index
Income over long term
Investments in Gilt Securities replicating the composition of Nifty 5 Yr
Benchmark G-Sec Index, subject to tracking errors

*Investors should consult their financial advisors if in doubt about

whether the product is suitable for them.
Please refer page no. 119 for explanation on various
symbols mentioned on the page

Fundamentals December 2023 79

Nippon India Silver ETF
Portfolio as on November 30, 2023
Silver - ETF
Company/Issuer % of Assets
Details as on November 30, 2023
Others 96.93
Type of Scheme SILVER 96.93
An open-ended scheme, listed on the Exchange in the form of an
Exchange Traded Fund (ETF) investing in physical silver and / or Cash and Other Receivables 3.07
Exchange Traded Commodity Derivatives (ETCD) in Silver.
Grand Total 100.00
Current Investment Philosophy For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
The fund employs an investment approach designed to track the
performance of physical silver. The fund seeks to achieve this goal by
investing in physical silver and silver related instruments.

Date of Allotment
February 02, 2022

Fund Manager(s)
Vikram Dhawan (Managing Since Feb 2022)
Total Experience of more than 28 years

Benchmark

Fund Size
Monthly Average: ₹ 1,240.22 Cr
Month End: ₹ 1,211.85 Cr

NAV as on November 30, 2023 ₹ 74.8361

Portfolio Turnover (Times) 0.53

Tracking Error@ 0.56 %
Creation Unit Size 30,000 Units
Pricing (per unit) (approximately) Approx 1 gram of
Domestic Price of
Silver

Exchange Listed NSE

Exchange Symbol SILVERBEES
ISIN INF204KC1402
Bloomberg Code NA
Reuters Code NA

Total Expense Ratio^ 0.51

Load structure
Entry Load:Not Applicable
Exit Load:Not Applicable

Domestic Price of Silver

(based on LBMA Silver daily spot fixing price)

Please refer page no. 119 for explanation on various symbols

mentioned on the page

80 December 2023 Fundamentals

Nippon India ETF Gold BeES
Portfolio as on November 30, 2023
Gold - ETF
Company/Issuer % of Assets
Details as on November 30, 2023
Others 98.79
Type of Scheme Gold 98.79
An open ended scheme, listed on the Exchange in the form of an
Exchange Traded Fund (ETF) investing in physical gold. Cash and Other Receivables 1.21

Current Investment Philosophy Grand Total 100.00

The fund employs an investment approach designed to track the For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
performance of physical gold. The fund seeks to achieve this goal by
investing in physical gold and gold related securities.

Date of Allotment
March 08, 2007

Fund Manager(s)
Vikram Dhawan (Managing Since Feb 2022)
Total Experience of more than 28 years

Benchmark
Domestic Price of Gold

Fund Size
Monthly Average: ₹ 8,510.00 Cr
Month End: ₹ 8,691.36 Cr

NAV as on November 30, 2023 ₹ 53.1545

Volatility Measures
Standard Deviation 3.46
Beta 0.96
Sharpe Ratio 0.03
Note: The above measures have been calculated using monthly rolling
returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Portfolio Turnover (Times) 0.06
Tracking Error@ 0.13 %
Creation Unit Size 115,000 units
Pricing (per unit) (approximately) Approx 0.01 Gram of
Gold

Exchange Listed NSE

Exchange Symbol GOLDBEES
ISIN INF204KB17I5
Bloomberg Code GBEES IS Equity
Reuters Code GBES.NS,GBES.BO

Total Expense Ratio^ 0.79

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India ETF Gold BeES Domestic Price of Gold
Portfolio diversification through asset allocation
Investment in physical gold

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.

Please refer page no. 119 for explanation on various symbols

mentioned on the page

Fundamentals December 2023 81

Nippon India Gold Savings Fund
Gold - FoF Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets

Type of Scheme Others 99.96

An open ended Fund of Fund Scheme. Nippon India ETF Gold Bees 99.96
Current Investment Philosophy Cash and Other Receivables 0.04
The fund employs an investment approach designed to track the
performance of Nippon India ETF Gold BeES. The fund seeks to Grand Total 100.00
achieve this goal by investing in Nippon India ETF Gold BeES. For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Date of Allotment
March 07, 2011
Volatility Measures
Standard Deviation 3.41 Beta 0.93 Sharpe Ratio 0.01
Fund Manager(s)
Mehul Dama (Managing Since Nov 2018) Note: The above measures have been calculated using monthly rolling returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Total Experience of more than 18 years
Benchmark ₹
Domestic Price of Gold Since Inception 10 Years 5 Years 3 Years 1 Year
Total Amount Invested (₹) 15,30,000 12,00,000 6,00,000 3,60,000 1,20,000
Fund Size
Market Value (₹)
Monthly Average: ₹ 1,547.24 Cr 25,98,953 1,970,880 7,90,736 4,27,319 1,28,433
Month End: ₹ 1,588.05 Cr Scheme Return (%) 13.98
7.97 9.63 11.10 11.66
B: Domestic Price of Gold Return (%)
NAV as on November 30, 2023 9.41 11.08 12.44 13.04 15.36
AB: Return (%) N.A N.A N.A N.A N.A
Growth Plan ₹ 24.6831
IDCW Plan ₹ 24.6831 Inception Date: March 7, 2011
Direct - Growth Plan ₹ 25.7160 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Direct - IDCW Plan ₹ 25.7160 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Total Expense Ratio^ B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Regular/Other than Direct 0.35 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Direct 0.13 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
(In addition to the above, the scheme will also incur expenses of the
underlying scheme, i.e. 0.79%.)

Load structure
Entry Load:Not Applicable
Exit Load:1% If redeemed or switched out on or before completion of
15 days from the date of allotment of units.
Nil, thereafter

Product Label Fund Riskometer Benchmark Riskometer

This product is suitable for investors who are seeking*: Nippon India Gold Savings Fund Domestic Price of Gold
Long term capital growth
Returns that are commensurate with the performance of Nippon India ETF
Gold BeES through investment in securities of Nippon India ETF Gold BeES

*Investors should consult their financial advisors if in doubt about whether the
product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

82 December 2023 Fundamentals

Nippon India Nifty Next 50 Junior BeES FoF
Fund of Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets

Type of Scheme Others 99.98

An Open Ended fund of funds scheme investing in Nippon India ETF Nippon India ETF Nifty Next 50 Junior BeES 99.98
Nifty Next 50 Junior BeES.
Cash and Other Receivables 0.02
Current Investment Philosophy
The fund employs a passive investment approach designed to track Grand Total 100.00
the performance of Nippon India ETF Nifty Next 50 Junior BeES. The For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
fund seeks to achieve this goal by investing in Nippon India ETF Nifty
Next 50 Junior BeES. Volatility Measures
Date of Allotment Standard Deviation 4.75 Beta 0.96 Sharpe Ratio 0.18
March 08, 2019 Note: The above measures have been calculated using monthly rolling returns for 36 months period with 6.9% risk free return (FBIL
Overnight MIBOR as on 30/11/2023).
Fund Manager(s)
Mehul Dama (Managing Since Mar 2019) ₹
Total Experience of more than 18 years
Since Inception 3 Years 1 Year
Benchmark Total Amount Invested (₹) 5,70,000 3,60,000 1,20,000
Nifty Next 50 TRI Market Value (₹) 812,109 431,095 136,319
Fund Size Scheme Return (%)
15.08 12.27 27.57
Monthly Average: ₹ 222.63 Cr B: Nifty Next 50 TRI Return (%)
15.83 12.90 28.21
Month End: ₹ 239.82 Cr AB: S&P BSE Sensex TRI Return (%) 15.57 12.04 14.70
NAV as on November 30, 2023 Inception Date: March 8, 2019
Growth Plan ₹ 17.6678 Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
IDCW Plan ₹ 17.6678 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Direct - Growth Plan ₹ 17.8843 consideration.
Direct - IDCW Plan ₹ 17.8843 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Total Expense Ratio^ index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Regular/Other than Direct 0.29
Direct 0.09
(In addition to the above, the scheme will also incur expenses of the
underlying scheme, i.e. 0.17%.)

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Nifty Next 50 Junior BeES Nifty Next 50 TRI
This product is suitable for investors who are seeking*:
FoF
Long term capital appreciation
Returns that will commensurate with the performance of Nippon India
ETF Nifty Next 50 Junior BeES.

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

Fundamentals December 2023 83

Nippon India Passive Flexicap FoF
Fund of Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets

Type of Scheme Mutual Fund units 99.40

An Open ended fund of funds scheme investing in units of Domestic Nippon India ETF Nifty 100 72.64
Exchange Traded Funds (ETFs)/ Index Funds.
Nippon India ETF Nifty Midcap 150 17.18
Current Investment Philosophy
Nippon India Nifty Smallcap 250 Ind FundDi Pl-GrOp 9.58
The fund of funds scheme will predominantly invest in units of
ETFs/Index Funds of Nippon India Mutual Fund based on the average Cash and Other Receivables 0.60
allocation of all active Flexi Cap Funds in the industry into large, mid
and small cap stocks as provided by CRISIL every month. Grand Total 100.00

Date of Allotment
January 01, 2021
Fund Manager(s) SIP - If you invested ₹ 10000 every month
Ashutosh Bhargava (Managing Since Jan 2023) Since Inception 1 Year
Total Experience of more than 18 years Total Amount Invested (₹) 350,000 120,000
Benchmark Market Value (₹) 431,681 135,310
Nifty 500 TRI Scheme Return (%) 14.78 25.80
B: Nifty 500 TRI Return (%) 15.54 26.46
Fund Size
Monthly Average: ₹ 194.87 Cr AB: S&P BSE Sensex TRI Return (%) 11.90 14.70
Month End: ₹ 200.81 Cr Inception Date: January 01, 2021
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
NAV as on November 30, 2023 installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Growth Plan ₹ 16.2458 consideration.
IDCW Plan ₹ 16.2458 B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Direct - Growth Plan ₹ 16.5019 index stocks, thereby showing a true picture of returns.
Direct - IDCW Plan ₹ 16.5019 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.

Portfolio Turnover (Times) 0.11

Total Expense Ratio^

Regular/Other than Direct 0.57
Direct 0.17
(In addition to the above, the scheme will also incur expenses of the underlying
scheme, i.e. 0.43%.)

Load structure
Entry Load:Not Applicable
Exit Load:Nil

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Passive Flexicap Nifty 500 TRI
This product is suitable for investors who are seeking*:
FoF
Long term capital appreciation
investment in units of Domestic ETFs/Index Funds

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the product is suitable for them.
page

84 December 2023 Fundamentals

Nippon India Asset Allocator FoF
Fund of Fund Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets

Type of Scheme Mutual Fund units 99.13

An open ended fund of funds scheme investing in equity oriented Nippon India Growth Fund-Dir Pln Growth Pl Gr Opt 21.58
schemes, debt oriented schemes and gold ETF of Nippon India
Mutual Fund. Nippon India Small Cap Fund - Direct Plan Gr Pl 19.67

Nippon India ETF Gold Bees 18.37

Current Investment Philosophy
The fund of funds scheme will invest in units of Equity oriented Nippon India Large Cap Fund-Direct Growth Plan 16.21
schemes, Debt oriented schemes and Gold ETF of Nippon India Nippon India Short Term Fund DP Growth Plan Growth 12.93
Mutual Fund.The scheme aims to capture changing trends among
asset classes & within asset classes through an in-house robust Nippon India Gilt Sec Fund Dir Pl Growth Pl Gr Op 10.37
dynamic asset allocation model. The model seeks to determine the
Cash and Other Receivables 0.87
optimum allocation in equity, debt and gold asset class.The
rebalancing will be done monthly based on the model. Grand Total 100.00
Date of Allotment
February 08, 2021
Fund Manager(s) SIP - If you invested ₹ 10000 every month
Sushil Budhia (Managing Since Mar 2021) Since Inception 1 Year
Total Experience of more than 22 years
Ashutosh Bhargava (Managing Since Feb 2021) Total Amount Invested (₹) 340,000 120,000
Total Experience of more than 18 years Market Value (₹) 436,337 137,076
Scheme Return (%) 18.28 28.90
Benchmark
CRISIL Hybrid 50+50 - Moderate Index B: CRISIL Hybrid 50+50 - Moderate Index Return (%) 9.88 14.47
AB: S&P BSE Sensex TRI Return (%) 11.80 14.70
Fund Size
Inception Date: February 08, 2021
Monthly Average: ₹ 179.30 Cr
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Month End: ₹ 184.34 Cr installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
NAV as on November 30, 2023 consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Growth Plan ₹ 16.0935 TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
IDCW Plan ₹ 16.0935 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct - Growth Plan ₹ 16.5751
Direct - IDCW Plan ₹ 16.5751

Portfolio Turnover (Times) 0.91

Total Expense Ratio^

Regular/Other than Direct 1.27
Direct 0.34
(In addition to the above, the scheme will also incur expenses of the underlying
scheme, i.e. 0.72%.)

Load structure
Entry Load:Not Applicable
Exit Load:10% of the units allotted shall be redeemed without any
exit load, on or before completion of 12 months from the date of
allotment of units. Any redemption in excess of such limit in the first
12 months from the date of allotment shall be subject to the
following exit load.
Redemption of units would be done on First in First out Basis (FIFO):
1% if redeemed or switched out on or before completion of 12
months from the date of allotment of units.
Nil, thereafter.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Asset Allocator FoF CRISIL Hybrid 50+50 - Moderate
This product is suitable for investors who are seeking*:
Index
Long term capital growth
An open ended fund of funds scheme investing in equity oriented
schemes, debt oriented schemes and gold ETF of Nippon India Mutual
Fund

*Investors should consult their financial advisors if in doubt about whether the
Please refer page no. 119 for explanation on various symbols mentioned on the
product is suitable for them.
page

Fundamentals December 2023 85

Nippon India Silver ETF Fund of Fund (FOF)
Silver - FoF Portfolio as on November 30, 2023

Details as on November 30, 2023 Company/Issuer % of Assets

Type of Scheme Others 99.32

An Open Ended Fund of Fund scheme investing in units of Nippon Nippon India Silver ETF 99.32
India Silver ETF.
Cash and Other Receivables 0.68
Current Investment Philosophy
This a passively managed fund of fund scheme which will employ an Grand Total 100.00
investment approach designed to track the performance of Domestic For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Price of Silver. The fund seeks to achieve this goal by investing at
least 95% of its total assets in units of Nippon India Silver ETF. SIP - If you invested ₹ 10000 every month
Date of Allotment Since Inception 1 Year
February 02, 2022 Total Amount Invested (₹) 220,000 120,000

Fund Manager(s) Market Value (₹)

251,244 129,395
Mehul Dama (Managing Since Feb 2022) Scheme Return (%)
15.00 15.61
Total Experience of more than 18 years B: Domestic Price of Silver Return (%) 16.85 17.53
AB: Return (%) N.A. N.A.
Benchmark
Inception Date: February 02, 2022
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
Fund Size installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
Monthly Average: ₹ 240.75 Cr consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Month End: ₹ 253.18 Cr TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
NAV as on November 30, 2023
Growth Plan ₹ 11.9776
IDCW Plan ₹ 11.9776
Direct - Growth Plan ₹ 12.0794
Direct - IDCW Plan ₹ 12.0794
Total Expense Ratio^
Regular/Other than Direct 0.58
Direct 0.23
(In addition to the above, the scheme will also incur expenses of the
underlying scheme, i.e. 0.51%.)

Load structure
Entry Load:Not Applicable
Exit Load:1% - If redeemed or switched out on or before completion
of 15 days from the date of allotment of units.
Nil - If redeemed or switched out after completion of 15 days from
the date of allotment of units.

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Silver ETF Fund of Fund Domestic Price of Silver
This product is suitable for investors who are seeking*: (based on LBMA Silver daily spot fixing price)
(FOF)
Long term capital growth
Returns that are commensurate with the performance of Nippon India
Silver ETF through investment in units of Nippon India Silver ETF

*Investors should consult their financial advisors if in doubt about whether

the product is suitable for them.
Please refer page no. 119 for explanation on various symbols
mentioned on the page

86 December 2023 Fundamentals

Nippon India Retirement Fund - Income Generation Scheme
Fixed Income - Retirement Portfolio as on November 30, 2023

Details as on November 30, 2023 Company / Issuer Rating % of Assets Company / Issuer Rating % of Assets
Type of Scheme Debt IT - Software
An open ended retirement solution oriented scheme having a lock-in
of 5 years or till retirement age (whichever is earlier). Government Bond 76.27 Tata Consultancy Services Limited* 1.06

Current Investment Philosophy Government of India SOV 76.27 Petroleum Products

The fund's investment objective is to provide capital appreciation and
consistent income to the investors which will be in line with their Equity Reliance Industries Limited* 1.45
retirement goals by investing in fixed income oriented portfolio with a low Equity Less Than 1% of Corpus 13.05
to moderate exposure (upto 30%) in equities. Thus the fund attempts to Banks
generate potentially higher returns by combining stability of fixed income HDFC Bank Limited* 1.92 Cash & Other Receivables 3.41
along with growth possibilities of equities. On the fixed income allocation
the fund will attempt to have an optimal blend of duration and accruals ICICI Bank Limited* 1.54
Grand Total 100.00
with investments in high quality instruments. The equity portolio will be
Axis Bank Limited* 1.31
invested pre-dominantly in large cap companies with tactical allocation *Top 10 Holdings
to mid cap stocks. The fund is well suited for investors in the post -
retirement phase seeking regular income with lower volatility.
SIP - If you invested ₹ 10000 every month
Date of Allotment Since Inception 5 Years 3 Years 1 Year
February 11, 2015
Total Amount Invested (₹) 1,060,000 600,000 360,000 120,000
Fund Manager(s)
Market Value (₹) 1,415,608 702,758 393,951 124,771
Pranay Sinha (Managing Since Mar 2021)
Scheme Return (%) 6.44 6.32 6.05 7.84
Total Experience of more than 17 years
Sanjay Doshi (Managing Since Jul 2020) B: CRISIL Hybrid 85+15 - Conservative Index Return (%) 8.22 7.73 6.65 8.66
Total Experience of more than 19 years AB: Crisil 10 Yr Gilt Index Return (%) 5.39 4.46 4.30 5.93
Benchmark Inception Date:February 11, 2015
CRISIL Hybrid 85+15 - Conservative Index Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Fund Size out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
Monthly Average: ₹ 163.81 Cr. B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
Month End: ₹ 164.44 Cr. index stocks, thereby showing a true picture of returns.
For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
NAV as on November 30, 2023
Growth Plan ₹ 17.2159 Rating Profile Asset Allocation
IDCW Plan ₹ 17.2182
Bonus Option ₹ 17.2159
Direct - Growth Plan ₹ 19.2649
Direct - IDCW Plan ₹ 19.2649 AAA/SOV/A1+/Cash & Other Government Bond : 76.27%
Direct - Bonus Option ₹ 19.2649 Receivables : 79.69% Equity : 20.31%
Equity : 20.31% Cash & Other Receivables : 3.41%
Average Maturity 18.51 Years
Modified Duration 9.38 Years
Annualized portfolio YTM* 7.54%
Macaulay Duration 9.73 Years
*In case of semi annual YTM, it has been
annualised. Industry Allocation
Total Expense Ratio^
Banks 6.02%
Regular/Other than Direct 2.10
IT - Software 2.37%
Direct 1.04
1.45%
Load structure Petroleum Products

Entry Load: Not Applicable Insurance 1.42%

Exit Load: Nil Auto Components 1.24%
Average Maturity, Modified Duration & YTM details provided for Debt portion of
Portfolio only. Construction 1.16%

Consumer Durables 1.02%

Retailing 0.90%
Pharmaceuticals &
0.83%
Biotechnology
AMFI Classification
Realty 0.61%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Retirement Fund - Income CRISIL Hybrid 85+15 - Conservative
This product is suitable for investors who are seeking*:
Generation Scheme Index
Income over long term along with capital growth
Investing primarily in fixed income securities and balance in
equity and equity related instruments so as to help the investor
in achieving the retirement goals

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on the whether the product is suitable for them.
page

Fundamentals December 2023 87

Nippon India Retirement Fund - Wealth Creation Scheme
Equity - Retirement Portfolio as on November 30, 2023
Company / Issuer Rating % of Assets Company / Issuer Rating % of Assets
Details as on November 30, 2023 Equity Indraprastha Gas Limited 1.43
Aerospace & Defense Healthcare Services
Type of Scheme Mishra Dhatu Nigam Limited 1.07 Apollo Hospitals Enterprise Limited 1.02
An open ended retirement solution oriented scheme having a lock-in Hindustan Aeronautics Limited 1.05 IT - Software
of 5 years or till retirement age (whichever is earlier). Auto Components Tata Consultancy Services Limited* 3.86
Bosch Limited* 3.98 Infosys Limited* 2.95
Current Investment Philosophy Samvardhana Motherson International 1.53 LTIMindtree Limited 1.49
Limited Industrial Manufacturing
The fund's investment objective is to provide capital appreciation and
Sona BLW Precision Forgings Limited 1.23 Kaynes Technology India Limited 1.81
consistent income to the investors which will be in line with their Banks Cyient Dlm Ltd 1.79
retirement goals by investing in an equity oriented portfolio. The fund HDFC Bank Limited* 8.04 Insurance
attempts to invest primarily in the large cap space with some allocations ICICI Bank Limited* 6.55 ICICI Lombard General Insurance Company 2.05
to good quality mid-cap companies. The fund endeavors to provide a Axis Bank Limited* 3.36 Limited
State Bank of India* 2.39 SBI Life Insurance Company Limited 1.19
superior wealth creation alternative for investors who are in the AU Small Finance Bank Limited 1.37 Personal Products
accumulation phase i.e seeking to create a retirement corpus during their Beverages Dabur India Limited 1.29
pre-retirement phase. United Breweries Limited 1.00 Petroleum Products
Capital Markets Reliance Industries Limited* 6.57
Date of Allotment HDFC Asset Management Company Limited 1.92 Pharmaceuticals & Biotechnology
February 11, 2015 Cement & Cement Products Gland Pharma Limited 1.18
Birla Corporation Limited 1.50 IPCA Laboratories Limited 1.08
Fund Manager(s) UltraTech Cement Limited 1.25 Power
Construction NTPC Limited* 2.79
Pranay Sinha (Managing Since Mar 2021) Larsen & Toubro Limited* 3.39 NLC India Limited 1.19
Total Experience of more than 17 years Sterling And Wilson Renewable Energy 1.29 Realty
Sanjay Doshi (Managing Since Jul 2020) Limited Prestige Estates Projects Limited 1.29
Consumer Durables Retailing
Total Experience of more than 19 years Dixon Technologies (India) Limited 2.03 Zomato Limited 1.75
Benchmark Titan Company Limited 1.29 Transport Services
Diversified FMCG Container Corporation of India Limited 1.12
S&P BSE 500 TRI Hindustan Unilever Limited 1.64 Debt
Entertainment Corporate Bond 0.00
Fund Size PVR INOX Limited 1.42 Yes Bank Limited BASEL III ICRA D 0.00
Monthly Average: ₹ 2,633.66 Cr. Finance Equity Less Than 1% of Corpus 9.75
Bajaj Finance Limited 2.36
Month End: ₹ 2,713.60 Cr. Bajaj Finserv Limited 1.05
Cash & Other Receivables 2.45
Food Products Grand Total 100.00
NAV as on November 30, 2023
BIKAJI FOODS INTERNATIONAL LIMITED 1.23 *Top 10 Holdings
Growth Plan ₹ 22.0885 Gas
IDCW Plan ₹ 19.0541
Bonus Option ₹ 22.0885
Direct - Growth Plan ₹ 24.4997 SIP - If you invested ₹ 10000 every month
Direct - IDCW Plan ₹ 21.3702 Since Inception 5 Years 3 Years 1 Year
Direct - Bonus Option ₹ 24.4997
Total Amount Invested (₹) 1,060,000 600,000 360,000 120,000
Volatility Measures
Market Value (₹) 1,818,033 907,575 463,029 138,323
Standard Deviation 3.99
Scheme Return (%) 11.91 16.73 17.35 31.09
Beta 0.96
Sharpe Ratio 0.27 B: S&P BSE 500 TRI Return (%) 15.33 18.63 15.62 25.89
Note: The above measures have been calculated using monthly rolling AB: S&P BSE Sensex TRI Return (%) 14.24 15.51 12.04 14.70
returns for 36 months period with 6.9% risk free return (FBIL
Inception Date:February 11, 2015
Overnight MIBOR as on 30/11/2023).
Past performance may or may not be sustained in future. It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first
installment in the Growth option of the Fund. Returns on SIP and Benchmark are annualized and cumulative investment return for cash flows resulting
Portfolio Turnover(Times) 0.34 out of uniform and regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR. Load has not been taken into
consideration.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Total Expense Ratio^ TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements and (b) dividend receipts from constituent
index stocks, thereby showing a true picture of returns.
Regular/Other than Direct 1.95 For scheme performance refer page 92-101. For Fund manager wise scheme performance refer page 102-107.
Direct 0.96
Load structure Industry Allocation IDCW History
Entry Load: Not Applicable Record Date Rate (₹/ Unit) Cum IDCW NAV Ex-IDCW NAV
Exit Load: Nil Banks 21.71% IDCW Plan
10-Feb-23 0.7500 15.9451 15.1951
IT - Software 8.29%
14-Feb-20 1.1068 13.1851 11.9351
Auto Components 6.74% Direct - IDCW Plan
10-Feb-23 0.7500 17.6588 16.9088
Petroleum Products 6.57%
14-Feb-20 1.1068 14.0631 12.8131
Consumer Durables 4.74% Past performance may or may not be sustained in future. Pursuant to IDCW
payment, NAV falls to the extent of payout & statutory levy (if applicable).
Construction 4.68% Face Value- ₹​10 .

Finance 4.00%

Power 3.99%
Industrial
3.60%
Manufacturing
AMFI Classification
Insurance 3.24%

Product Label Fund Riskometer Benchmark Riskometer

Nippon India Retirement Fund - Wealth S&P BSE 500 TRI
This product is suitable for investors who are seeking*:
Creation Scheme
Long term growth and capital appreciation
Investing primarily in Equity and equity related instruments and
balance in fixed income securities so as to help the investor in
achieving the retirement goals

*Investors should consult their financial advisors if in doubt about

Please refer page no. 119 for explanation on various symbols mentioned on whether the product is suitable for them.
the page

88 December 2023 Fundamentals

 Debt Snapshot as on 30.11.2023
TER^ (%) Asset Allocation (%)
Month Macaulay Modified Residual $
Name of the Scheme/ Parameters end AUM Duration Duration Maturity**** YTM TREPS/ Exit Load
G-Sec/ SDL/ Corp
(Rs. Cr) (Years) (Years) (Years) Direct Regular CD CP PTC InvIT Equity Repo/Cash/
T-Bills Debt
Receivables

Nippon India Overnight Fund 8,534 - - 2 Days 6.84% 0.08% 0.17% - - 4.45% - - - - 95.55% Nil

Nippon India Liquid Fund 24,632 50 Days 46 Days 50 Days 7.39% 0.20% 0.34% 26.45% 47.03% 19.11% 1.63% - - - 5.52% # Refer footnote

Nippon India Money Market Fund 12,072 129 Days 119 Days 129 Days 7.62% 0.24% 0.35% 49.50% 33.65% 14.88% - - - - 1.76% Nil

Nippon India Ultra Short Duration Fund 5,946 148 Days 138 Days 151 Days 7.76% 0.38% 1.16% 35.02% 21.21% 11.86% 19.86% 4.36% - - 7.49% Nil

Nippon India Low Duration Fund 6,513 332 Days 311 Days 349 Days 7.77% 0.38% 0.94% 19.76% 7.34% 16.52% 44.72% 4.85% - - 6.57% Nil

Nippon India Corporate Bond Fund 2,388 2.61 2.46 3.22 7.68% 0.34% 0.67% - - 9.99% 74.31% - - - 15.53% Nil

Nippon India Short Term Fund 6,122 2.87 2.72 3.39 7.74% 0.37% 0.94% - 0.16% 37.12% 53.70% 2.43% - - 6.35% Nil

Nippon India Floating Rate Fund 7,867 2.60 2.45 3.17 7.90% 0.31% 0.58% 9.55% 3.44% 23.40% 59.08% 1.09% - - 3.20% Nil

Nippon India Banking & PSU Debt Fund 5,293 3.42 3.24 4.43 7.69% 0.36% 0.74% 5.51% 1.85% 18.82% 69.61% - - - 4.03% Nil

Nippon India Strategic Debt Fund 121 3.43 3.26 4.28 8.21% 1.44% 1.99% - 3.95% 37.94% 44.50% 5.23% - - 8.03% 1% <= 1 Year; Nil thereafter

Nippon India Credit Risk Fund 1,026 1.81 1.72 1.99 8.98% 0.91% 1.63% - 0.95% 9.94% 82.88% - - - 5.97% 1% <= 12 Months; Nil thereafter**

Nippon India Income Fund 266 6.91 6.66 11.24 7.47% 0.58% 1.37% - - 82.41% 7.88% - - - 9.48% 0.25% <= 15 days; Nil thereafter

Nippon India Dynamic Bond Fund 4,461 5.16 4.97 6.46 7.75% 0.31% 0.70% - - 96.74% - - - - 3.07% Nil

Nippon India Gilt Securities Fund 1,579 7.50 7.23 11.41 7.50% 0.63% 1.40% - - 95.26% - - - - 4.74% 0.25% <= 7 days; Nil thereafter

Nippon India Nivesh Lakshya Fund 6,494 10.36 9.99 21.02 7.57% 0.30% 0.63% - - 96.04% - - - - 3.86% 1% <= 12 Months; Nil thereafter***

Nippon India Hybrid Bond Fund 777 1.73 1.64 1.95 8.94% 1.14% 1.94% - 3.15% 6.42% 70.76% - 0.44% 12.26% 6.73% 1% <= 12 Months; Nil thereafter**

Nippon India Retirement Fund - Income Generation 164 9.73 9.38 18.51 7.54% 1.04% 2.10% - - 76.27% - - - 20.31% 3.41% Nil

Nippon India ETF Nifty CPSE Bond Plus SDL Sep2024 50:50 1,638 247 Days 234 Days 251 Days 7.52% 0.20% - - - 47.73% 49.72% - - - 2.55% Nil

Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight 7,466 1.91 1.84 2.08 7.67% 0.20% - - - 97.34% - - - - 2.66% Nil

Nippon India ETF Nifty 5 yr Benchmark G-Sec 155 3.78 3.65 4.35 7.39% 0.09% - - - 98.77% - - - - 1.23% Nil

Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt 1,452 6.78 6.54 9.32 7.44% 0.10% - - - 97.52% - - - - 2.48% Nil

Nippon India ETF Nifty 1D Rate Liquid BeES 9,929 0.00 0.00 1 Day 6.78% 0.69% - - - - - - - - 100.00% Nil

Nippon India NiftyAAAPSUBd+SDLSep26 50:50IndexFund 452 2.31 2.18 2.53 7.72% 0.20% 0.39% - - 48.57% 48.54% - - - 2.89% Nil
Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 2,928 2.65 2.50 2.94 7.74% 0.15% 0.30% - - 38.84% 58.20% - - - 2.96% Nil
Index Fund
Nippon India Nifty G-Sec Sep27 Maturity Index Fund 395 3.10 2.99 3.56 7.40% 0.20% 0.39% - - 96.78% - - - - 3.22% Nil

Nippon India NiftySDL+G-Sec Jun2028 70:30IndexFund 347 3.54 3.42 4.16 7.65% 0.20% 0.38% - - 97.34% - - - - 2.66% Nil

Nippon India Nifty G-Sec Oct28 Maturity Index Fund 107 3.61 3.49 4.25 7.41% 0.20% 0.33% - - 97.97% - - - - 2.03% Nil

Nippon India NiftySDL+G-Sec Jun2029 70:30IndexFund 291 4.32 4.16 5.24 7.67% 0.20% 0.36% - - 97.66% - - - - 2.34% Nil

Nippon India Nifty G-Sec Jun 2036 Index Fund 551 8.26 7.97 12.39 7.52% 0.20% 0.45% - - 99.19% - - - - 0.81% Nil
Corporate Debt includes debentures, bonds and floating rate notes. Equity includes index, equity futures & equity shares. Corporate Debt includes debentures & bonds.

$ In schemes with investments in floating rate bonds, valuation of FRB issued by Government of India is as per CCIL and all other floating rate bonds are based on valuation provided by AMFI approved valuation agencies. Yields are annualised for All Securities.
*YTM for debt portion of the portfolio in case of Nippon India Hybrid Bond Fund.
****Since Residual Maturity is at portfolio level, it’s a weighted average of residual maturity of all securities in the portfolio.
**10% (Nippon India Hybrid Bond Fund (NIHBF), Nippon India Credit Risk Fund (NICRF)) / 20% (Nippon India Nivesh Lakshya Fund (NINLF)) of the units allotted can be redeemed every year without any exit load, on or before completion of 12 months (NIHBF, NICRF) / 36 months (NINLF) from the date of allotment of units. Any redemption in excess of such limit in the first
12 months (NIHBF, NICRF) / 36 months (NINLF) from the date of allotment shall be subject to the above mentioned exit load, Redemption of units would be done on First in First out Basis (First In First Out).
#
Exit Load in Nippon India Liquid Fund, for redemptions within 7 days as below:
Day 1 - 0.0070%; Day 2 - 0.0065%; Day 3 - 0.0060%; Day 4 - 0.0055%; Day 5 - 0.0050%; Day 6 - 0.0045; Nil 7th day onwards
^^ Segregated Funds: Plz refer to the SID/KIM of the respective funds for the detailed information. Receivables includes segregated part of the portfolio.
^Total Expense Ratio - As on last day of the month & includes additional expenses provided in Regulation 52(6A)(b) and 52(6A)(c) of SEBI (Mutual Funds) Regulations, 1996 and Goods and Service Tax on Management Fees. Kindly refere to respective Scheme Pages for the Complete Details of the Parameters.

December 2023 89
 Nippon India Equity Hybrid Fund Nippon India Credit Risk Fund
Since Since
15 Years 10 Years 5 Years 3 Years 1 Year 15 Years 10 Years 5 Years 3 Years 1 Year
Inception Inception
Total Amount Invested (₹) 2,220,000 1,800,000 1,200,000 600,000 360,000 120,000 Total Amount Invested (₹) 2,220,000 1,800,000 1,200,000 600,000 360,000 120,000
Market Value (₹) 7,565,149 4,597,847 2,066,166 864,629 451,445 133,999 Market Value (₹) 4,151,119 2,939,519 1,587,674 699,776 400,980 124,671
Scheme Return (%) 11.99 11.63 10.52 14.74 15.54 23.52 Scheme Return (%) 6.37 6.26 5.49 6.15 7.25 7.67
B:CRISIL Hybrid 35+65 - 11.80 12.22 12.42 13.77 11.32 17.00 B:NIFTY Credit Risk 9.24 9.15 8.87 8.69 8.50 9.42
Aggressive Index Return (%) Bond Index C-III Return
(%)
AB:S&P BSE Sensex TRI 12.85 13.42 13.82 15.51 12.04 14.70
Return (%) AB:Crisil 10 Yr Gilt Index 6.16 6.04 5.75 4.46 4.30 5.93
Return (%)
Inception Date: June 08, 2005
Inception Date: June 8, 2005
The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer
SID/KIM of the Scheme. The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer
Segregated Portfolio 1 - The total impact on the NAV is 0.25%. Out of this, 0.15% is due to the credit event SID/KIM of the Scheme.
and 0.10% is due to segregation decision post the credit event (accordingly for this 0.10%, new units have Segregated Portfolio 1 - Impact of segregation on NAV is negative (0.56%). An amount of 4.30% of total
been allotted and is reflected in the segregated portfolio). exposure realized on Sep 16, 2020. The annual coupon amounting Rs 6.98 cr received on Jan 27, 2021.
Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March Entire due amount of Rs 93.78 Cr (Face Value + Accrued Interest) was received on January 27, 2022,
5,2020. subsequently all the units in this segregated portfolio were redeemed and the portfolio was closed, and the
investors were duly paid in proportion to their holding.
Nippon India Balanced Advantage Fund Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March
5,2020.
Since
15 Years 10 Years 5 Years 3 Years 1 Year
Inception
Details as on November 30, 2023
Total Amount Invested (₹) 2,290,000 1,800,000 1,200,000 600,000 360,000 120,000 Past performance may or may not be sustained in future and the same may not necessarily provide the
Market Value (₹) 8,368,880 4,596,365 2,064,468 802,323 421,404 130,000 basis for comparison with other investment.
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index
Scheme Return (%) 12.21 11.62 10.51 11.69 10.68 16.64
TRI - Total Returns Index reflects the returns on the index arising from (a) constituent stock price movements
B:CRISIL Hybrid 50+50 - 10.99 11.25 11.32 12.01 9.94 14.47 and (b) dividend receipts from constituent index stocks, thereby showing a true picture of returns.
Moderate Index Return (%) It is assumed that a SIP of ₹10,000 each executed on 10th of every month including the first installment.
AB:S&P BSE Sensex TRI 13.10 13.42 13.82 15.51 12.04 14.70 Load has not been taken into consideration.
Return (%) Returns on SIP and Benchmark are annualised and cumulative investment return for cash flows resulting out
of uniform and
Inception Date: November 15, 2004 regular monthly subscriptions have been worked out on excel spreadsheet function known as XIRR.

Brief on New Securities included in the Portfolio of Debt Funds

Bharti Enterprises Limited (BEL) Rated: AA (Stable)/A1+ by CRISIL and A1+ by CARE
BEL was incorporated on November 21, 2005 and is 100% held by the ultimate holding company of the Bharti group, i.e., Bharti Enterprises (Holding) Pvt Ltd (BEHPL).
The Mittal family holds BEHPL. The company is one of the prominent holdcos of the Bharti group, with investments across diverse businesses, viz payment solutions, real
estate, insurance, and processed food. We derive comfort from the financial flexibility emanating from being part of the Bharti Group, strong financial profile with healthy
debt cover available at promoter holding companies level.
Source: NIAM Research & Company website

Vastu Finserve India Private Limited (VFPL) Rated: AA- (Stable) by CARE and ICRA; A+ (Positive) by CRISIL
VFPL incorporated in September 2018, is a 100% owned subsidiary of Vastu Housing Finance Corporation Limited (VHFC). VFPL is registered as NBFC with RBI and is
majorly into the business of vehicle financing, predominantly used commercial vehicles and used cars. VHFC (parent company) is registered as HFC with RBI and is
present into affordable housing finance segment. Multiple Private Equity is promoter of VHFC and holds about 70% stake in VHFC as on Mar 2023. We derive comfort
from strong underwriting practice and process, healthy capitalisation levels, presence in affordable housing space, granular and diversified portfolio, presence of large
private equity as promoter and experienced management background.
Source: NIAM Research & Company website

Fundamentals December 2023 90

 NOVEMBER 30, 2023
Fund Manager (Industry Experience) Managing the Fund since Fund Manager (Industry Experience) Managing the Fund since Fund Manager (Industry Experience) Managing the Fund since

Equity Fund Management Team Mr. Sanjay Doshi (19 Years) Ms. Anju Chhajer (27 Years)
Mr. Sailesh Raj Bhan (27 Years) Nippon India Power & Infra Fund Jan 2017 Nippon India Low Duration Fund Oct 2009

Nippon India Pharma Fund Jun 2004 Nippon India Retirement Fund - Wealth Creation Scheme Jul 2020 Nippon India Liquid Fund Oct 2013

Nippon India Multi Cap Fund Mar 2005 Nippon India Retirement Fund - Income Generation Jul 2020 Nippon India Overnight Fund Dec 2018
Scheme
Nippon India Large Cap Fund Aug 2007 Nippon India Arbitrage Fund Feb 2020
Nippon India Growth Fund (Assistant Fund Manager) Jan 2023
Nippon India Money Market Fund Feb 2020
Mr. Samir Rachh (32 Years) Nippon India Floating Rate Fund Feb 2020
Mr. Vinay Sharma (19 Years)
Nippon India Small Cap Fund Jan 2017 Nippon India Interval Fund - All Series
Nippon India Banking & Financial Services Fund Apr 2018
All Series of Nippon India Fixed Horizon Fund (Co-Fund
Mr. Mehul Dama (18 Years) Nippon India Focused Equity Fund May 2018 Manager)
Nippon India Innovation Fund Sep 2023
Nippon India Gold Savings Fund Nov 2018
Mr. Vivek Sharma (17 Years)
Nippon India Index Fund - Nifty 50 Plan Nov 2018
Ms. Kinjal Desai (10 Years) Nippon India Ultra Short Duration Fund Oct 2013
Nippon India Index Fund - S&P BSE Sensex Plan Nov 2018
Dedicated Fund Manager for Overseas Investments Nippon India Low Duration Fund Feb 2020
Nippon India ETF Nifty PSU Bank BeES Nov 2018
Nippon India US Equity Opportunities Fund May 2018 Nippon India Corporate Bond Fund Feb 2020
Nippon India ETF Nifty Infrastructure BeES Nov 2018
Nippon India Japan Equity Fund May 2018 Nippon India Short Term Fund Feb 2020
Nippon India ETF Nifty 50 Value 20 Nov 2018
Nippon India ETF Hang Seng BeES May 2018 Nippon India Income Fund Feb 2020
Nippon India ETF Nifty 100 Nov 2018
Nippon India Multi Asset Fund Aug 2020 Nippon India Dynamic Bond Fund Jun 2020
Nippon India ETF Nifty India Consumption Nov 2018
Nippon India Taiwan Equity Fund Dec 2021 Nippon India Banking & PSU Debt Fund Jun 2020
Nippon India ETF Nifty 50 Shariah BeES Nov 2018
Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 Mar 2021
Nippon India ETF Nifty Dividend Opportunities 50 Nov 2018
Mr. Anand Gupta (30 Years) 50:50
Nippon India ETF S&P BSE Sensex Nov 2018
Nippon India Arbitrage Fund Sep 2018 Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight Mar 2021
Nippon India ETF Nifty Midcap 150 Jan 2019
Nippon India Equity Savings Fund Sep 2018 Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Mar 2022
Nippon India Nifty Next 50 Junior BeES FoF Mar 2019 Maturity 60:40 Index Fund
Nippon India ETF S&P BSE Sensex Next 50 Jul 2019 Mr. Tejas Sheth (18 Years) Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Oct 2022
Maturity 50:50 Index Fund
Nippon India ETF Nifty IT Jun 2020 Nippon India Multi Asset Fund (Co-Fund Manager) Oct 2020
Nippon India Nifty SDL Plus G-Sec - Jun 2028 Maturity Nov 2022
Nippon India Nifty Smallcap 250 Index Fund Oct 2020 Nippon India Small Cap Fund (Assistant Fund Manager) Feb 2023 70:30 Index Fund
Nippon India Nifty 50 Value 20 Index Fund Feb 2021
Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund Dec 2022
Nippon India Nifty Midcap 150 Index Fund Feb 2021 Mr. Amar Kalkundrikar (20 Years)
Nippon India Nifty G-Sec Jun 2036 Maturity Index Fund Dec 2022
Nippon India Nifty Pharma ETF Jul 2021 Nippon India Balanced Advantage Fund Oct 2020
Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity Feb 2023
CPSE ETF Sep 2021 Nippon India Consumption Fund Oct 2020 70:30 Index Fund
Nippon India ETF Nifty 50 BeES Sep 2021 Nippon India Vision Fund Jun 2021 Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Mar 2023
Nippon India ETF Nifty Next 50 Junior BeES Sep 2021
Mr. Aishwarya Deepak Agarwal (23 Years) Mr. Siddharth Deb (16 Years)
Nippon India ETF Nifty Bank BeES Sep 2021
Nippon India Vision Fund Jun 2021 Nippon India ETF Nifty 1D Rate Liquid BeES Nov 2012
Nippon India Nifty Auto ETF Jan 2022
Nippon India Silver ETF Fund of Fund Feb 2022 Nippon India ETF Hang Seng BeES Nov 2016
Mr. Bhavik Dave (11 Years)
Nippon India Nifty Alpha Low Volatility 30 Index Fund Aug 2022 Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt Mar 2021
Nippon India Banking & Financial Services Fund (Co- Jun 2021
Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 Mar 2021
Fund Manager)
Mr. Ashutosh Bhargava (18 Years) 50:50

Mr. Prateek Poddar (10 Years) Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight Mar 2021
Nippon India Quant Fund Sep 2017
Nippon India ETF Nifty 5 yr Benchmark G-Sec Apr 2021
Nippon India Balanced Advantage Fund May 2018 Nippon India Focused Equity Fund (Co-Fund Manager) Jun 2021
Nippon India Liquid Fund Mar 2022
Nippon India Tax Saver (ELSS) Fund (Co-Fund Manager) Jul 2020
Nippon India Multi Asset Fund Aug 2020
Mr. Rupesh Patel (24 Years) Nippon India Overnight Fund Mar 2022

Nippon India Tax Saver (ELSS) Fund Jul 2021 Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Mar 2022
Nippon India Asset Allocator FoF Feb 2021
Maturity 60:40 Index Fund
Nippon India Large Cap Fund (Co-Fund Manager) Sep 2021 Nippon India Growth Fund Jan 2023
Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Oct 2022
Nippon India Multi Cap Fund (Co-Fund Manager) Sep 2021 Maturity 50:50 Index Fund
Mr. Akshay Sharma (7 Years)
Nippon India Passive Flexicap FoF Jan 2023 Nippon India Nifty SDL Plus G-Sec - Jun 2028 Maturity Nov 2022
Dedicated Fund Manager for Overseas Investments 70:30 Index Fund
Mr. Dhrumil Shah (17 Years) Nippon India US Equity Opportunities Fund Dec 2022 Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund Dec 2022
Nippon India Flexi Cap Fund Aug 2021 Nippon India Japan Equity Fund Dec 2022 Nippon India Nifty G-Sec Jun 2036 Maturity Index Fund Dec 2022
Nippon India Hybrid Bond Fund (Co-Fund Manager) Sep 2021 Nippon India ETF Hang Seng BeES Dec 2022 Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity Feb 2023
Nippon India Multi Asset Fund Dec 2022 70:30 Index Fund
Nippon India Equity Savings Fund (Co-Fund Manager) Sep 2021
Nippon India Taiwan Equity Fund Dec 2022 Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Mar 2023
Nippon India Value Fund Jan 2023

Fixed Income Fund Management Team Mr. Sushil Budhia (22 Years)
Ms. Meenakshi Dawar (14 Years)
Nippon India Equity Hybrid Fund Feb 2020
Nippon India Value Fund May 2018 Mr. Amit Tripathi (25 Years)
Nippon India Credit Risk Fund Feb 2020
Nippon India Equity Hybrid Fund Sep 2021 All Series of Nippon India Fixed Horizon Fund
Nippon India Hybrid Bond Fund Feb 2020
Nippon India Flexi Cap Fund Jan 2023
Mr. Pranay Sinha (17 Years) Nippon India Equity Savings Fund Feb 2020

Nippon India Retirement Fund - Wealth Creation Scheme Mar 2021 Nippon India Strategic Debt Fund Feb 2020

Nippon India Gilt Securities Fund Mar 2021 Nippon India Balanced Advantage Fund Mar 2021

Nippon India Dynamic Bond Fund Mar 2021 Nippon India Short Term Fund Mar 2021

Nippon India Retirement Fund - Income Generation Mar 2021 Nippon India Multi Asset Fund Mar 2021
Scheme Nippon India Asset Allocator FoF Mar 2021
Nippon India Nivesh Lakshya Fund Mar 2021
Nippon India Banking & PSU Debt Fund Mar 2021
Commodity Fund Management Team
Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt Mar 2021 Mr. Vikram Dhawan (28 Years)
Nippon India ETF Nifty 5 yr Benchmark G-Sec Apr 2021 Nippon India Multi Asset Fund Aug 2020
Nippon India ETF Gold BeES Feb 2022
Nippon India Silver ETF Feb 2022

Fundamentals December 2023 91

 SCHEME PERFORMANCE AS ON November 30,2023
Nippon India Large Cap Fund Nippon India Focused Equity Fund
NAV as on November 30, 2023: ₹67.2605 NAV as on November 30, 2023: ₹97.3146
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Large Cap Fund 18.31 25.10 15.41 12.39 Nippon India Focused Equity Fund 14.57 24.00 17.34 13.64
B:S&P BSE 100 TRI 10.10 18.19 14.76 11.18 B:S&P BSE 500 TRI 13.44 20.21 16.00 13.64
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 10.94 AB:S&P BSE Sensex TRI 7.59 16.27 14.46 13.73
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India Large Cap Fund 11,831 19,613 20,482 67,260 Nippon India Focused Equity Fund 11,457 19,100 22,254 20,449
B:S&P BSE 100 TRI 11,010 16,531 19,910 56,434 B:S&P BSE 500 TRI 11,344 17,397 21,015 20,450
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 54,453 AB:S&P BSE Sensex TRI 10,759 15,738 19,649 20,539
Inception Date : Aug 8, 2007 Date of Recategorisation: Apr 28, 2018
Fund Manager : Sailesh Raj Bhan (Since Aug 2007), Ashutosh Bhargava (Co-Fund Manager) (Since Sep Fund Manager : Vinay Sharma (Since May 2018), Prateek Poddar (Co-Fund Manager) (Since Jun 2021)
2021)
*Reliance Focused Large Cap Fund was merged into Reliance Mid & Small Cap Fund and the merged
Nippon India Vision Fund scheme was renamed as Nippon India Focused Equity Fund (formerly Reliance Focused Equity Fund)
(‘Scheme’) with effect from April 28, 2018. In line with SEBI circular SEBI/HO/IMD/DF3/CIR/P/2018/69 dated
NAV as on November 30, 2023: ₹1,047.2598 April 12, 2018, since the Scheme did not retain the features of either the transferor or transferee scheme, the
CAGR % performance has been provided herein since the effective date i.e. April 28, 2018
Particulars
1 Year 3 Years 5 Years Since Inception Nippon India Small Cap Fund
Nippon India Vision Fund 21.13 22.13 15.62 17.96 NAV as on November 30, 2023: ₹131.1034
B:Nifty LargeMidcap 250 TRI 19.92 23.34 18.00 NA CAGR %
Particulars
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 12.63 1 Year 3 Years 5 Years Since Inception
Value of ₹ 10000 Invested Nippon India Small Cap Fund 38.40 40.95 27.10 21.50
Nippon India Vision Fund 12,113 18,246 20,671 1,047,260 B:Nifty Smallcap 250 TRI 38.24 34.26 22.06 12.84
B:Nifty LargeMidcap 250 TRI 11,992 18,796 22,884 NA AB:S&P BSE Sensex TRI 7.59 16.27 14.46 11.32
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 285,181 Value of ₹ 10000 Invested
Inception Date : Oct 8, 1995 Nippon India Small Cap Fund 13,840 28,079 33,186 131,103
Fund Manager : Amar Kalkundrikar(Since Jun 2021), Aishwarya Deepak Agarwal (Since Jun 2021) B:Nifty Smallcap 250 TRI 13,824 24,262 27,114 49,336

As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using AB:S&P BSE Sensex TRI 10,759 15,738 19,649 41,228
composite CAGR of S&P BSE Sensex PRI values from date 06-Oct-1995 to date 19-Aug-1996 and TRI Inception Date : Sep 16, 2010
values since date 19-Aug-1996
Fund Manager : Samir Rachh (Since Jan 2017), Tejas Sheth (Assistant Fund Manager) (Since Feb 2023)
NA has been mentioned as the benchmark data for corresponding period is not available.
Nippon India Value Fund
Nippon India Quant Fund NAV as on November 30, 2023: ₹165.5310
NAV as on November 30, 2023: ₹52.4417
CAGR %
CAGR % Particulars
Particulars 1 Year 3 Years 5 Years Since Inception
1 Year 3 Years 5 Years Since Inception
Nippon India Value Fund 25.53 26.60 18.72 16.39
Nippon India Quant Fund 19.88 22.63 16.73 11.19
B:Nifty 500 TRI 13.84 20.04 15.83 14.42
B:S&P BSE 200 TRI 11.21 19.08 15.48 11.38
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 14.68
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 10.90
Value of ₹ 10000 Invested
Value of ₹ 10000 Invested
Nippon India Value Fund 12,553 20,328 23,594 165,530
Nippon India Quant Fund 11,988 18,472 21,685 52,441
B:Nifty 500 TRI 11,384 17,324 20,855 120,639
B:S&P BSE 200 TRI 11,121 16,909 20,546 53,866
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 125,891
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 50,413
Inception Date : Jun 8, 2005
Inception Date : Apr 18, 2008
Fund Manager : Dhrumil Shah (Since Jan 2023), Meenakshi Dawar (Since May 2018)
Fund Manager : Ashutosh Bhargava (Since Sep 2017)
Nippon India Multi Cap Fund
Nippon India Growth Fund NAV as on November 30, 2023: ₹217.1826
NAV as on November 30, 2023: ₹2,978.2453
CAGR %
CAGR % Particulars
Particulars 1 Year 3 Years 5 Years Since Inception
1 Year 3 Years 5 Years Since Inception
Nippon India Multi Cap Fund 27.44 33.60 18.39 17.91
Nippon India Growth Fund 34.32 31.11 23.30 22.42
B:NIFTY 500 Multicap 50:25:25 TRI 21.17 24.47 18.15 NA
B:NIFTY Midcap 150 TRI 32.84 29.87 21.87 NA
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 14.86
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 12.63
Value of ₹ 10000 Invested
Value of ₹ 10000 Invested
Nippon India Multi Cap Fund 12,744 23,901 23,272 217,183
Nippon India Growth Fund 13,432 22,589 28,517 2,978,230
B:NIFTY 500 Multicap 50:25:25 TRI 12,117 19,318 23,035 NA
B:NIFTY Midcap 150 TRI 13,284 21,950 26,900 NA
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 133,188
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 285,181
Inception Date : Mar 28, 2005
Inception Date : Oct 8, 1995
Fund Manager : Sailesh Raj Bhan (Since Mar 2005), Ashutosh Bhargava (Co-Fund Manager) (Since Sep
Fund Manager : Rupesh Patel (Since Jan 2023), Sanjay Doshi (Assistant Fund Manager) (Since Jan 2023) 2021)
As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using NA has been mentioned as the benchmark data for corresponding period is not available.
composite CAGR of S&P BSE Sensex PRI values from date 06-Oct-1995 to date 19-Aug-1996 and TRI
values since date 19-Aug-1996
NA has been mentioned as the benchmark data for corresponding period is not available.

Fundamentals December 2023 92

 SCHEME PERFORMANCE AS ON November 30,2023
Nippon India Flexi Cap Fund Nippon India Pharma Fund
NAV as on November 30, 2023: ₹13.3969 NAV as on November 30, 2023: ₹377.6915
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Flexi Cap Fund 21.06 NA NA 13.57 Nippon India Pharma Fund 29.19 16.65 19.84 20.47
B:Nifty 500 TRI 13.84 NA NA 12.46 B:S&P BSE Healthcare TRI 27.78 15.05 17.00 15.13
AB:S&P BSE Sensex TRI 7.59 NA NA 9.93 AB:S&P BSE Sensex TRI 7.59 16.27 14.46 15.98
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India Flexi Cap Fund 12,106 NA NA 13,397 Nippon India Pharma Fund 12,919 15,892 24,725 377,694
B:Nifty 500 TRI 11,384 NA NA 13,099 B:S&P BSE Healthcare TRI 12,778 15,246 21,938 156,001
AB:S&P BSE Sensex TRI 10,759 NA NA 12,430 AB:S&P BSE Sensex TRI 10,759 15,738 19,649 180,210
Inception Date : Aug 13, 2021 Inception Date : Jun 5, 2004
Fund Manager : Meenakshi Dawar (Since Jan 2023), Dhrumil Shah (Since Aug 2021) Fund Manager : Sailesh Raj Bhan (Since Jun 2004)

Nippon India ELSS Tax Saver Fund As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using
composite CAGR of S&P BSE HC PRI values from date 04-Jun-2004 to date 23-Aug-2004 and TRI values
NAV as on November 30, 2023: ₹96.6178 since date 23-Aug-2004
CAGR %
Particulars Nippon India Consumption Fund
1 Year 3 Years 5 Years Since Inception NAV as on November 30, 2023: ₹155.6673
Nippon India ELSS Tax Saver Fund 15.61 23.39 12.46 13.27 CAGR %
B:Nifty 500 TRI 13.84 20.04 15.83 13.40 Particulars
1 Year 3 Years 5 Years Since Inception
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 13.53
Nippon India Consumption Fund 18.12 26.46 20.17 15.39
Value of ₹ 10000 Invested
B:Nifty India Consumption TRI 14.57 19.91 14.08 NA
Nippon India ELSS Tax Saver Fund 11,561 18,818 17,996 96,619
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 15.39
B:Nifty 500 TRI 11,384 17,324 20,855 98,622
Value of ₹ 10000 Invested
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 100,702
Nippon India Consumption Fund 11,812 20,265 25,069 155,666
Inception Date : Sep 21, 2005
B:Nifty India Consumption TRI 11,457 17,268 19,332 NA
Fund Manager : Rupesh Patel (Since Jul 2021), Ashutosh Bhargava (Co - Fund Manager) (Since Jul 2020) AB:S&P BSE Sensex TRI 10,759 15,738 19,649 155,692
Nippon India Banking & Financial Services Fund Inception Date : Sep 30, 2004
NAV as on November 30, 2023: ₹480.0947 Fund Manager : Amar Kalkundrikar (Since Oct 2020)
CAGR %
Particulars NA has been mentioned as the benchmark data for corresponding period is not available.
1 Year 3 Years 5 Years Since Inception
Nippon India Japan Equity Fund
Nippon India Banking & Financial Services 17.24 24.37 13.43 20.75 NAV as on November 30, 2023: ₹16.5352
Fund
CAGR %
B:Nifty Financial Services TRI 4.60 12.80 12.59 NA Particulars
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 17.85 1 Year 3 Years 5 Years Since Inception
Value of ₹ 10000 Invested Nippon India Japan Equity Fund 14.71 0.66 5.90 5.58

Nippon India Banking & Financial Services 11,724 19,271 18,784 480,098 B:S&P Japan 500 TRI 18.83 4.79 8.72 9.22
Fund AB:S&P BSE Sensex TRI 7.59 16.27 14.46 11.94
B:Nifty Financial Services TRI 10,460 14,365 18,101 NA Value of ₹ 10000 Invested
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 291,279 Nippon India Japan Equity Fund 11,471 10,200 13,320 16,535
Inception Date : May 26, 2003 B:S&P Japan 500 TRI 11,883 11,511 15,195 22,656
Fund Manager : Vinay Sharma (Since Apr 2018), Bhavik Dave (Co-Fund Manager) (Since Jun 2021) AB:S&P BSE Sensex TRI 10,759 15,738 19,649 28,436
NA has been mentioned as the benchmark data for corresponding period is not available. Inception Date : Aug 26, 2014

Nippon India Power & Infra Fund Fund Manager : Kinjal Desai (Since May 2018), Akshay Sharma (Since Dec 2022)
NAV as on November 30, 2023: ₹249.3036 Nippon India US Equity Opportunities Fund
CAGR % NAV as on November 30, 2023: ₹26.8207
Particulars
1 Year 3 Years 5 Years Since Inception CAGR %
Particulars
Nippon India Power & Infra Fund 39.72 36.64 21.22 17.86 1 Year 3 Years 5 Years Since Inception
B:Nifty Infrastructure TRI 21.78 25.83 18.10 10.68 Nippon India US Equity Opportunities 21.14 8.77 13.62 12.52
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 15.07 Fund

Value of ₹ 10000 Invested B:S&P 500 TRI 16.29 14.09 16.62 15.43
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 12.19
Nippon India Power & Infra Fund 13,972 25,579 26,192 249,303
Value of ₹ 10000 Invested
B:Nifty Infrastructure TRI 12,178 19,962 22,986 72,901
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 156,121 Nippon India US Equity Opportunities 12,114 12,879 18,939 26,821
Fund
Inception Date : May 8, 2004
B:S&P 500 TRI 11,629 14,866 21,575 33,208
Fund Manager : Sanjay Doshi (Since Jan 2017) AB:S&P BSE Sensex TRI 10,759 15,738 19,649 26,164
Inception Date : Jul 23, 2015
Fund Manager : Kinjal Desai (Since May 2018), Akshay Sharma (Since Dec 2022)

93 December 2023 Fundamentals

 SCHEME PERFORMANCE AS ON November 30,2023
Nippon India Taiwan Equity Fund Nippon India Ultra Short Duration Fund
NAV as on November 30, 2023: ₹9.2210 NAV as on November 30, 2023: ₹3,604.0450
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Taiwan Equity Fund 33.45 NA NA -4.03 Nippon India Ultra Short Duration Fund 6.68 6.27 4.98 6.00
B:Taiwan Capitalization Weighted Stock 22.71 NA NA 1.72 B:NIFTY Ultra Short Duration Debt Index 7.71 5.52 6.18 7.52
Index (TAIEX) TRI B-I
AB:S&P BSE Sensex TRI 7.59 NA NA 8.29 AB:Crisil 1 Yr T-Bill Index 6.97 4.72 5.63 5.93
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India Taiwan Equity Fund 13,345 NA NA 9,221 Nippon India Ultra Short Duration Fund 10,668 12,008 12,753 36,040
B:Taiwan Capitalization Weighted Stock 12,271 NA NA 10,342 B:NIFTY Ultra Short Duration Debt Index 10,771 11,755 13,499 49,247
Index (TAIEX) TRI B-I
AB:S&P BSE Sensex TRI 10,759 NA NA 11,701 AB:Crisil 1 Yr T-Bill Index 10,697 11,487 13,150 35,522
Inception Date : Dec 11, 2021 Inception Date : Dec 7, 2001
Fund Manager : Kinjal Desai (Since Dec 2021), Akshay Sharma (Since Dec 2022) Fund Manager : Vivek Sharma (Since Oct 2013)

Nippon India Overnight Fund The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer
SID/KIM of the Scheme.
NAV as on November 30, 2023: ₹125.1496 Segregated Portfolio 1 - The total impact on the NAV is 5.43%. Out of this, 3.98% is due to the credit event
Simple Annualised % CAGR % and 1.45% is due to segregation decision post the credit event (accordingly for this 1.45%, new units have
been allotted and is reflected in the segregated portfolio). Part payments received on Dec 30,2019 (6.06% of
Particulars 7 Days 15 30 1 Year 3 Years 5 Years Since total exposure), on Oct 8, 2020 (3.64% of total exposure), on Mar 12, 2021 (55.87% of total exposure) and
Days Days Inception on Jun 8, 2021 (1.02% of total exposure). Final settlement payment from Altico Capital India Limited (ACIL)
amounting INR 9.50 Cr (which is 6.04% of the total exposure in ACIL) received on March 10, 2022.
Nippon India Overnight Fund 6.66 6.66 6.64 6.57 4.66 NA 4.63 Considering this, the total recovery from ACIL is 72.63% of the total exposure. The segregated portfolio of
B:CRISIL Liquid Overnight Index 6.78 6.79 6.79 6.70 4.82 NA 4.76 Nippon India Ultra Short Duration Fund will now cease to exist.
AB:Crisil 1 Yr T-Bill Index 6.09 6.34 7.34 6.97 4.72 NA 5.58 Nippon India Low Duration Fund
Value of ₹ 10000 Invested NAV as on November 30, 2023: ₹3,333.3020
Nippon India Overnight Fund 10,011 10,025 10,051 10,657 11,465 NA 12,515 CAGR %
Particulars
B:CRISIL Liquid Overnight Index 10,011 10,025 10,052 10,670 11,517 NA 12,592 1 Year 3 Years 5 Years Since Inception
AB:Crisil 1 Yr T-Bill Index 10,010 10,024 10,056 10,697 11,484 NA 13,089 Nippon India Low Duration Fund 6.66 4.88 5.89 7.47
Inception Date : Dec 18, 2018 B:CRISIL Low Duration Debt B-I Index 7.63 5.50 6.35 7.37
Fund Manager : Anju Chhajer (Since Dec 2018), Siddharth Deb (Since Mar 2022) AB:Crisil 1 Yr T-Bill Index 6.97 4.72 5.63 6.20

Nippon India Liquid Fund Value of ₹ 10000 Invested

NAV as on November 30, 2023: ₹5,702.8614 Nippon India Low Duration Fund 10,666 11,542 13,318 33,333
Simple Annualised % CAGR % B:CRISIL Low Duration Debt B-I Index 10,763 11,748 13,604 32,817
Particulars 7 Days 15 30 1 Year 3 Years 5 Years Since AB:Crisil 1 Yr T-Bill Index 10,697 11,487 13,150 27,313
Days Days Inception Inception Date : Mar 20, 2007
Nippon India Liquid Fund 6.76 6.75 6.79 6.91 4.85 5.18 6.84 Fund Manager : Anju Chhajer (Since Oct 2009), Vivek Sharma (Since Feb 2020)
B:NIFTY Liquid Index B-I 7.04 7.13 7.19 7.25 5.12 5.32 7.02
Nippon India Corporate Bond Fund
AB:Crisil 1 Yr T-Bill Index 6.09 6.34 7.34 6.97 4.72 5.63 5.89 NAV as on November 30, 2023: ₹52.3980
Value of ₹ 10000 Invested CAGR %
Nippon India Liquid Fund 10,011 10,025 10,052 10,691 11,526 12,872 37,508
Particulars
1 Year 3 Years 5 Years Since Inception
B:NIFTY Liquid Index B-I 10,011 10,026 10,055 10,725 11,615 12,959 38,841
Nippon India Corporate Bond Fund 6.86 5.24 6.69 7.39
AB:Crisil 1 Yr T-Bill Index 10,010 10,024 10,056 10,697 11,484 13,150 31,389
B:NIFTY Corporate Bond Index B-III 7.21 5.56 7.59 NA
Inception Date : Dec 9, 2003 AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 NA
Fund Manager : Anju Chhajer (Since Oct 2013), Siddharth Deb (Since Mar 2022) Value of ₹ 10000 Invested
Nippon India Money Market Fund Nippon India Corporate Bond Fund 10,686 11,661 13,828 52,398
NAV as on November 30, 2023: ₹3,682.3917 B:NIFTY Corporate Bond Index B-III 10,721 11,769 14,422 NA
Simple Annualised % CAGR % AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 NA
Particulars 7 Days 15 30 1 Year 3 Years 5 Years Since Inception Date : Sep 14, 2000
Days Days Inception Fund Manager : Vivek Sharma (Since Feb 2020)
Nippon India Money Market Fund 6.70 6.75 6.91 7.38 5.26 6.08 7.31
NA has been mentioned as the benchmark data for corresponding period is not available.
B:CRISIL Money Market B-I Index 7.08 7.03 7.29 7.45 5.32 5.79 7.06
Nippon India Banking & PSU Debt Fund
AB:Crisil 1 Yr T-Bill Index 6.09 6.34 7.34 6.97 4.72 5.63 6.04
NAV as on November 30, 2023: ₹18.2694
Value of ₹ 10000 Invested
CAGR %
Nippon India Money Market Fund 10,011 10,025 10,053 10,738 11,667 13,433 36,824 Particulars
1 Year 3 Years 5 Years Since Inception
B:CRISIL Money Market B-I Index 10,011 10,026 10,056 10,745 11,686 13,254 35,259
Nippon India Banking & PSU Debt Fund 6.48 4.41 7.07 7.30
AB:Crisil 1 Yr T-Bill Index 10,010 10,024 10,056 10,697 11,487 13,150 29,556
B:Nifty Banking & PSU Debt Index 6.55 4.51 6.83 6.98
Inception Date : Jun 16, 2005
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.20
Fund Manager : Anju Chhajer (Since Feb 2020)
Value of ₹ 10000 Invested
Nippon India Banking & PSU Debt Fund 10,648 11,385 14,074 18,269
B:Nifty Banking & PSU Debt Index 10,655 11,418 13,915 17,810
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 16,729
Inception Date : May 15, 2015
Fund Manager : Pranay Sinha (Since Mar 2021), Vivek Sharma (Since Jun 2020)

Fundamentals December 2023 94

 SCHEME PERFORMANCE AS ON November 30,2023
Nippon India Floating Rate Fund Nippon India Strategic Debt Fund
NAV as on November 30, 2023: ₹39.6840 NAV as on November 30, 2023: ₹13.5684
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Floating Rate Fund 7.03 4.81 7.02 7.41 Nippon India Strategic Debt Fund 6.60 8.66 -1.05 3.29
B:CRISIL Short Term Bond Index 7.13 4.92 7.06 7.32 B:CRISIL Medium Duration Debt C-III 12.65 9.05 9.42 9.56
Index
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 5.84
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.82
Value of ₹ 10000 Invested
Value of ₹ 10000 Invested
Nippon India Floating Rate Fund 10,703 11,519 14,043 39,684
Nippon India Strategic Debt Fund 10,660 12,839 9,485 13,568
B:CRISIL Short Term Bond Index 10,713 11,553 14,068 39,030
B:CRISIL Medium Duration Debt C-III 11,265 12,977 15,687 23,666
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 29,871
Index
Inception Date : Aug 27, 2004 AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 18,635
Fund Manager : Anju Chhajer (Since Feb 2020) Inception Date : Jun 26, 2014
Nippon India Short Term Fund Fund Manager : Sushil Budhia (Since Feb 2020)
NAV as on November 30, 2023: ₹46.3392 The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer
CAGR % SID/KIM of the Scheme.
Particulars Segregated Portfolio 1 - Impact of segregation on NAV is negative (0.37%). An amount of 4.64% of total
1 Year 3 Years 5 Years Since Inception exposure realized on Sep 16, 2020. The annual coupon amounting Rs 1.82 cr received on Jan 27, 2021.
Nippon India Short Term Fund 6.43 4.64 6.65 7.59 Entire due amount of Rs 24.42 Cr (Face Value + Accrued Interest) was received on January 27, 2022,
subsequently all the units in this segregated portfolio were redeemed and the portfolio was closed, and the
B:CRISIL Short Duration Debt B-II Index 7.56 5.39 7.16 7.12 investors were duly paid in proportion to their holding.
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 5.87 Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March
5, 2020.
Value of ₹ 10000 Invested
Nippon India Income Fund
Nippon India Short Term Fund 10,643 11,463 13,800 46,340
NAV as on November 30, 2023: ₹78.8065
B:CRISIL Short Duration Debt B-II Index 10,756 11,711 14,134 42,291
CAGR %
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 33,069 Particulars
1 Year 3 Years 5 Years Since Inception
Inception Date : Dec 18, 2002
Nippon India Income Fund 5.83 3.48 6.74 8.29
Fund Manager : Sushil Budhia (Since Mar 2021), Vivek Sharma (Since Feb 2020)
B:NIFTY Medium to Long Duration Debt 6.28 3.96 7.39 NA
Nippon India Nivesh Lakshya Fund Index A-III
NAV as on November 30, 2023: ₹15.2905 AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 NA
CAGR % Value of ₹ 10000 Invested
Particulars
1 Year 3 Years 5 Years Since Inception Nippon India Income Fund 10,583 11,083 13,860 78,807
Nippon India Nivesh Lakshya Fund 6.36 3.58 7.68 8.17 B:NIFTY Medium to Long Duration Debt 10,628 11,239 14,285 NA
Index A-III
B:CRISIL Long Duration Debt A-III Index 6.33 3.96 8.01 8.18
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 NA
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.44
Inception Date : Jan 1, 1998
Value of ₹ 10000 Invested
Fund Manager : Vivek Sharma (Since Feb 2020)
Nippon India Nivesh Lakshya Fund 10,636 11,117 14,477 15,291
B:CRISIL Long Duration Debt A-III Index 10,633 11,239 14,701 15,297 NA has been mentioned as the benchmark data for corresponding period is not available.

AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 14,012 Nippon India Dynamic Bond Fund
Inception Date : Jul 6, 2018 NAV as on November 30, 2023: ₹32.2899
Fund Manager : Pranay Sinha (Since Mar 2021)
CAGR %
Particulars
1 Year 3 Years 5 Years Since Inception
Nippon India Credit Risk Fund
NAV as on November 30, 2023: ₹30.5966 Nippon India Dynamic Bond Fund 6.30 3.72 6.38 6.35
CAGR % B:CRISIL Dynamic Bond A-III Index 6.40 4.06 7.49 7.84
Particulars AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.26
1 Year 3 Years 5 Years Since Inception
Value of ₹ 10000 Invested
Nippon India Credit Risk Fund 7.67 8.39 4.13 6.23
Nippon India Dynamic Bond Fund 10,630 11,161 13,626 32,290
B:NIFTY Credit Risk Bond Index C-III 9.57 8.10 9.05 9.09
B:CRISIL Dynamic Bond A-III Index 10,640 11,271 14,353 42,095
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.10
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 31,796
Value of ₹ 10000 Invested
Inception Date : Nov 15, 2004
Nippon India Credit Risk Fund 10,767 12,742 12,246 30,597
B:NIFTY Credit Risk Bond Index C-III 10,957 12,642 15,422 49,959 Fund Manager : Pranay Sinha (Since Mar 2021), Vivek Sharma (Since Jun 2020)

AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 29,873 Nippon India Gilt Securities Fund
Inception Date : Jun 8, 2005 NAV as on November 30, 2023: ₹33.2841
Fund Manager : Sushil Budhia (Since Feb 2020)
CAGR %
Particulars
The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer 1 Year 3 Years 5 Years Since Inception
SID/KIM of the Scheme. Nippon India Gilt Securities Fund 5.66 3.24 6.91 8.19
Segregated Portfolio 1 - Impact of segregation on NAV is negative (0.56%). An amount of 4.30% of total
exposure realized on Sep 16, 2020. The annual coupon amounting Rs 6.98 cr received on Jan 27, 2021. B:CRISIL Dynamic Gilt Index 6.61 3.94 7.06 8.02
Entire due amount of Rs 93.78 Cr (Face Value + Accrued Interest) was received on January 27, 2022, AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.74
subsequently all the units in this segregated portfolio were redeemed and the portfolio was closed, and the
investors were duly paid in proportion to their holding. Value of ₹ 10000 Invested
Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March Nippon India Gilt Securities Fund 10,566 11,007 13,970 33,284
5,2020.
B:CRISIL Dynamic Gilt Index 10,661 11,233 14,069 32,492
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 27,102
Inception Date : Aug 22, 2008
Fund Manager : Pranay Sinha (Since Mar 2021)

95 December 2023 Fundamentals

 SCHEME PERFORMANCE AS ON November 30,2023
Nippon India Balanced Advantage Fund Nippon India Hybrid Bond Fund
NAV as on November 30, 2023: ₹142.6589 NAV as on November 30, 2023: ₹50.1411
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Balanced Advantage Fund 10.13 12.47 10.60 14.97 Nippon India Hybrid Bond Fund 8.49 8.27 3.48 8.42
B:CRISIL Hybrid 50+50 - Moderate Index 9.12 11.64 11.93 11.64 B:Crisil Hybrid 85+15 - Conservative Index 7.47 6.42 8.79 8.15
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 15.09 AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 5.48
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India Balanced Advantage Fund 11,013 14,241 16,557 142,658 Nippon India Hybrid Bond Fund 10,849 12,701 11,868 50,141
B:CRISIL Hybrid 50+50 - Moderate Index 10,912 13,928 17,572 81,519 B:Crisil Hybrid 85+15 - Conservative Index 10,747 12,057 15,242 47,666
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 145,610 AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 28,971
Inception Date : Nov 15, 2004 Inception Date : Dec 29, 2003
Fund Manager : Amar Kalkundrikar (Since Oct 2020), Ashutosh Bhargava (Since May 2018), Sushil Budhia Fund Manager : Sushil Budhia (Since Feb 2020), Dhrumil Shah (Co-Fund Manager) (Since Sep 2021)
(Since Mar 2021)
The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer
Nippon India Equity Hybrid Fund SID/KIM of the Scheme.
Segregated Portfolio 1 - Impact of segregation on NAV was negative (3.33%). Interest payment of Rs 9.31 Cr
NAV as on November 30, 2023: ₹82.7075 (21.78% of total exposure) was received on June 12, 2020. Further entire due amount of Rs 113.61 Cr (Face
CAGR % Value + Interest) was received on July 10, 2020, subsequent to that all the units in the segregated portfolio
Particulars were redeemed and the portfolio was closed, the investors were duly paid in the proportion to their holding.
1 Year 3 Years 5 Years Since Inception Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March
Nippon India Equity Hybrid Fund 14.95 19.45 9.35 12.10 5,2020.

B:CRISIL Hybrid 35+65 - Aggressive Index 9.78 13.88 13.12 12.52 Nippon India Multi Asset Fund
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 14.68 NAV as on November 30, 2023: ₹16.0121
Value of ₹ 10000 Invested CAGR %
Particulars
Nippon India Equity Hybrid Fund 11,495 17,070 15,639 82,707 1 Year 3 Years 5 Years Since Inception
B:CRISIL Hybrid 35+65 - Aggressive Index 10,978 14,784 18,526 88,522 Nippon India Multi Asset Fund 15.96 15.01 NA 15.55
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 125,891 B:50% of S&P BSE 500 TRI, 20% of MSCI 14.08 14.75 NA 15.81
World Index TRI, 15% of Crisil Short Term
Inception Date : Jun 8, 2005 Bond Index & 15% of Domestic prices of
Fund Manager : Sushil Budhia (Since Feb 2020), Meenakshi Dawar (Since Sep 2021) Gold

The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer AB:S&P BSE Sensex TRI 7.59 16.27 NA 19.04
SID/KIM of the Scheme. Value of ₹ 10000 Invested
Segregated Portfolio 1 - The total impact on the NAV is 0.25%. Out of this, 0.15% is due to the credit event
and 0.10% is due to segregation decision post the credit event (accordingly for this 0.10%, new units have Nippon India Multi Asset Fund 11,596 15,230 NA 16,012
been allotted and is reflected in the segregated portfolio). B:50% of S&P BSE 500 TRI, 20% of MSCI 11,408 15,126 NA 16,129
Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March World Index TRI, 15% of Crisil Short Term
5, 2020. Bond Index & 15% of Domestic prices of
Gold
Nippon India Equity Savings Fund
NAV as on November 30, 2023: ₹14.0014 AB:S&P BSE Sensex TRI 10,759 15,738 NA 17,642

CAGR % Inception Date : Aug 28, 2020

Particulars Fund Manager : Sushil Budhia (Since Mar 2021), Ashutosh Bhargava (Since August 2020), Vikram Dhawan
1 Year 3 Years 5 Years Since Inception
(Since August 2020), Kinjal Desai (Since August 2020), Tejas Sheth (Co-Fund Manager) (Since Oct 2020),
Nippon India Equity Savings Fund 9.57 9.48 2.32 4.03 Akshay Sharma (Since Dec 2022)
B:Nifty Equity Savings Index 7.89 9.43 9.36 8.62 Nippon India Index Fund - Nifty 50 Plan
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.09 NAV as on November 30, 2023: ₹33.7667
Value of ₹ 10000 Invested CAGR %
Particulars
Nippon India Equity Savings Fund 10,957 13,131 11,214 14,001 1 Year 3 Years 5 Years Since Inception
B:Nifty Equity Savings Index 10,789 13,113 15,643 20,203 Nippon India Index Fund - Nifty 50 Plan 7.78 15.97 13.18 9.67
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 16,540 B:Nifty 50 TRI 8.47 17.12 14.45 10.91
Inception Date : May 30, 2015 AB:S&P BSE Sensex TRI 7.59 16.27 14.46 11.05
Fund Manager : Dhrumil Shah (Co-Fund Manager) (Since Sep 2021), Anand Gupta(Since Sep 2018), Sushil Value of ₹ 10000 Invested
Budhia (Since Feb 2020)
Nippon India Index Fund - Nifty 50 Plan 10,778 15,617 18,579 33,767
The scheme returns are inclusive of the impact of segregation of portfolio. For complete details, please refer
SID/KIM of the Scheme. B:Nifty 50 TRI 10,847 16,086 19,646 39,163
Segregated Portfolio 1 - The total impact on the NAV is 5.92%. Out of this, 3.52% is due to the credit event AB:S&P BSE Sensex TRI 10,759 15,738 19,649 39,816
and 2.40% is due to segregation decision post the credit event (accordingly for this 2.40%, new units have
been allotted and is reflected in the segregated portfolio). Inception Date : Sep 28, 2010
Segregated Portfolio 2 - No impact of segregation on NAV beyond fair valuation of securities done on March Fund Manager : Mehul Dama (Since Nov 2018)
5,2020.

Nippon India Arbitrage Fund Nippon India Index Fund - S&P BSE Sensex Plan
NAV as on November 30, 2023: ₹33.6846
NAV as on November 30, 2023: ₹23.7617
CAGR %
CAGR % Particulars
Particulars 1 Year 3 Years 5 Years Since Inception
1 Year 3 Years 5 Years Since Inception
Nippon India Index Fund - S&P BSE 6.79 15.46 13.57 9.65
Nippon India Arbitrage Fund 6.93 4.90 5.02 6.81 Sensex Plan
B:Nifty 50 Arbitrage Index 7.87 5.31 4.95 6.22 B:S&P BSE Sensex TRI 7.59 16.27 14.46 11.05
AB:Crisil 1 Yr T-Bill Index 6.97 4.72 5.63 6.50 AB:Nifty 50 TRI 8.47 17.12 14.45 10.91
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India Arbitrage Fund 10,693 11,548 12,778 23,762 Nippon India Index Fund - S&P BSE 10,679 15,409 18,904 33,685
B:Nifty 50 Arbitrage Index 10,787 11,683 12,736 22,101 Sensex Plan
AB:Crisil 1 Yr T-Bill Index 10,697 11,487 13,150 22,869 B:S&P BSE Sensex TRI 10,759 15,738 19,649 39,816

Inception Date : Oct 14, 2010 AB:Nifty 50 TRI 10,847 16,086 19,646 39,163

Fund Manager : Anand Gupta (Since Sep 2018), Anju Chhajer (Since Feb 2020) Inception Date : Sep 28, 2010
Fund Manager : Mehul Dama (Since Nov 2018)

Fundamentals December 2023 96

 SCHEME PERFORMANCE AS ON November 30,2023
Nippon India Nifty Smallcap 250 Index Fund Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund
NAV as on November 30, 2023: ₹25.8258 NAV as on November 30, 2023: ₹10.7056
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Nifty Smallcap 250 Index 36.41 32.01 NA 35.50 Nippon India Nifty AAA CPSE Bond Plus 6.16 NA NA 4.16
Fund SDL - Apr 2027 Maturity 60:40 Index Fund
B:Nifty Smallcap 250 TRI 38.24 34.26 NA 37.92 B:Nifty AAA CPSE Bond Plus SDL Apr 6.43 NA NA 4.38
2027 60:40 Index
AB:Nifty 50 TRI 8.47 17.12 NA 20.21
AB:Crisil 10 Yr Gilt Index 6.77 NA NA 4.75
Value of ₹ 10000 Invested
Value of ₹ 10000 Invested
Nippon India Nifty Smallcap 250 Index 13,641 23,055 NA 25,826
Fund Nippon India Nifty AAA CPSE Bond Plus 10,616 NA NA 10,706
SDL - Apr 2027 Maturity 60:40 Index Fund
B:Nifty Smallcap 250 TRI 13,824 24,262 NA 27,296
B:Nifty AAA CPSE Bond Plus SDL Apr 10,643 NA NA 10,744
AB:Nifty 50 TRI 10,847 16,086 NA 17,770
2027 60:40 Index
Inception Date : Oct 16, 2020 AB:Crisil 10 Yr Gilt Index 10,677 NA NA 10,807
Fund Manager : Mehul Dama (Since Oct 2020) Inception Date : Mar 29, 2022
Nippon India Nifty Midcap 150 Index Fund Fund Manager : Vivek Sharma (Since Mar 2022), Siddharth Deb (Since Mar 2022)
NAV as on November 30, 2023: ₹18.1051
Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Maturity 50:50 Index Fund
CAGR % NAV as on November 30, 2023: ₹10.7459
Particulars
1 Year 3 Years 5 Years Since Inception CAGR %
Nippon India Nifty Midcap 150 Index Fund 31.62 NA NA 23.82
Particulars
1 Year 3 Years 5 Years Since Inception
B:Nifty Midcap 150 TRI 32.84 NA NA 25.28
Nippon India Nifty AAA PSU Bond Plus 6.30 NA NA 6.80
AB:Nifty 50 TRI 8.47 NA NA 12.61 SDL - Sep 2026 Maturity 50:50 Index
Fund
Value of ₹ 10000 Invested
B:Nifty AAA PSU Bond Plus SDL Sep 6.70 NA NA 7.21
Nippon India Nifty Midcap 150 Index Fund 13,162 NA NA 18,105 2026 50:50 Index
B:Nifty Midcap 150 TRI 13,284 NA NA 18,704 AB:Crisil 10 Yr Gilt Index 6.77 NA NA 7.69
AB:Nifty 50 TRI 10,847 NA NA 13,907 Value of ₹ 10000 Invested
Inception Date : Feb 19, 2021 Nippon India Nifty AAA PSU Bond Plus 10,630 NA NA 10,746
Fund Manager : Mehul Dama (Since Feb 2021) SDL - Sep 2026 Maturity 50:50 Index
Fund
Nippon India Nifty 50 Value 20 Index Fund B:Nifty AAA PSU Bond Plus SDL Sep 10,670 NA NA 10,791
NAV as on November 30, 2023: ₹15.1721 2026 50:50 Index
CAGR % AB:Crisil 10 Yr Gilt Index 10,677 NA NA 10,844
Particulars
1 Year 3 Years 5 Years Since Inception Inception Date : Oct 27, 2022
Nippon India Nifty 50 Value 20 Index Fund 14.82 NA NA 16.19 Fund Manager : Vivek Sharma (Since Oct 2022), Siddharth Deb (Since Oct 2022)
B:Nifty 50 Value 20 TRI 15.92 NA NA 17.47 Nippon India Nifty SDL Plus G-Sec - Jun 2028 Maturity 70:30 Index Fund
AB:Nifty 50 TRI 8.47 NA NA 12.61 NAV as on November 30, 2023: ₹10.6709
Value of ₹ 10000 Invested CAGR %
Particulars
Nippon India Nifty 50 Value 20 Index Fund 11,482 NA NA 15,172 1 Year 3 Years 5 Years Since Inception
B:Nifty 50 Value 20 TRI 11,592 NA NA 15,643 Nippon India Nifty SDL Plus G-Sec - Jun 6.40 NA NA 6.60
AB:Nifty 50 TRI 10,847 NA NA 13,907 2028 Maturity 70:30 Index Fund
Inception Date : Feb 19, 2021 B:Nifty SDL Plus G-Sec Jun 2028 70:30 7.04 NA NA 7.13
Index
Fund Manager : Mehul Dama (Since Feb 2021)
AB:Crisil 10 Yr Gilt Index 6.77 NA NA 6.61
Nippon India Nifty Alpha Low Volatility 30 Index Fund Value of ₹ 10000 Invested
NAV as on November 30, 2023: ₹12.7377
Nippon India Nifty SDL Plus G-Sec - Jun 10,640 NA NA 10,671
CAGR % 2028 Maturity 70:30 Index Fund
Particulars
1 Year 3 Years 5 Years Since Inception B:Nifty SDL Plus G-Sec Jun 2028 70:30 10,704 NA NA 10,725
Index
Nippon India Nifty Alpha Low Volatility 30 20.46 NA NA 20.77
Index Fund AB:Crisil 10 Yr Gilt Index 10,677 NA NA 10,672
B:Nifty Alpha Low Volatility 30 TRI 21.93 NA NA 22.30 Inception Date : Nov 24, 2022
AB:Nifty 50 TRI 8.47 NA NA 11.32 Fund Manager : Vivek Sharma (Since Nov 2022), Siddharth Deb (Since Nov 2022)
Value of ₹ 10000 Invested Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund
Nippon India Nifty Alpha Low Volatility 30 12,046 NA NA 12,738 NAV as on November 30, 2023: ₹10.6185
Index Fund
Simple Annualised %
B:Nifty Alpha Low Volatility 30 TRI 12,193 NA NA 12,945 Particulars
6 Months Since Inception
AB:Nifty 50 TRI 10,847 NA NA 11,474
Nippon India Nifty G-Sec Sep 2027 4.41 6.29
Inception Date : Aug 19, 2022 Maturity Index Fund
Fund Manager : Mehul Dama (Since Aug 2022) B:Nifty G-Sec Sep 2027 Index 4.81 6.75
AB:Crisil 10 Yr Gilt Index 2.25 6.50
Value of ₹ 10000 Invested
Nippon India Nifty G-Sec Sep 2027 10,219 10,618
Maturity Index Fund
B:Nifty G-Sec Sep 2027 Index 10,238 10,664
AB:Crisil 10 Yr Gilt Index 10,112 10,639
Inception Date : Dec 6, 2022
Fund Manager : Vivek Sharma (Since Dec 2022), Siddharth Deb (Since Dec 2022)

97 December 2023 Fundamentals

 Nippon India Nifty G-Sec Jun 2036 Maturity Index Fund Nippon India ETF Nifty 50 Value 20
NAV as on November 30, 2023: ₹10.6651 NAV as on November 30, 2023: ₹121.6719
Simple Annualised % CAGR %
Particulars Particulars
6 Months Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Nifty G-Sec Jun 2036 1.91 7.02 Nippon India ETF Nifty 50 Value 20 15.43 22.00 17.69 15.04
Maturity Index Fund
B:Nifty 50 Value 20 TRI 15.92 22.59 18.52 15.70
B:Nifty G-Sec Jun 2036 Index 2.29 7.42
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 12.69
AB:Crisil 10 Yr Gilt Index 2.25 6.78
Value of ₹ 10000 Invested
Value of ₹ 10000 Invested
Nippon India ETF Nifty 50 Value 20 11,543 18,186 22,589 32,716
Nippon India Nifty G-Sec Jun 2036 10,095
Maturity Index Fund B:Nifty 50 Value 20 TRI 11,592 18,454 23,392 34,319

B:Nifty G-Sec Jun 2036 Index 10,114 AB:S&P BSE Sensex TRI 10,759 15,738 19,649 27,467

AB:Crisil 10 Yr Gilt Index 10,112 Inception Date : Jun 18, 2015

Inception Date : Dec 19, 2022 Fund Manager : Mehul Dama (Since Nov 2018)

Fund Manager : Vivek Sharma (Since Dec 2022), Siddharth Deb (Since Dec 2022) Nippon India ETF Nifty Next 50 Junior BeES
NAV as on November 30, 2023: ₹509.9227
Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity 70:30 Index Fund
NAV as on November 30, 2023: ₹10.5236 CAGR %
Particulars
Simple Annualised % 1 Year 3 Years 5 Years Since Inception
Particulars
6 Months Since Inception Nippon India ETF Nifty Next 50 Junior 10.44 17.15 12.42 18.98
BeES
Nippon India Nifty SDL Plus G-Sec - Jun 3.95 6.75
2029 Maturity 70:30 Index Fund B:Nifty Next 50 TRI 10.60 17.44 12.72 20.05

B:Nifty SDL Plus G-Sec Jun 2029 70:30 4.28 7.50 AB:Nifty 50 TRI 8.47 17.12 14.45 16.76
Index Value of ₹ 10000 Invested
AB:Crisil 10 Yr Gilt Index 2.25 7.32 Nippon India ETF Nifty Next 50 Junior 11,044 16,098 17,961 370,227
Value of ₹ 10000 Invested BeES

Nippon India Nifty SDL Plus G-Sec - Jun 10,196 B:Nifty Next 50 TRI 11,060 16,219 18,204 446,482
2029 Maturity 70:30 Index Fund AB:Nifty 50 TRI 10,847 16,086 19,646 250,346
B:Nifty SDL Plus G-Sec Jun 2029 70:30 10,212 Inception Date : Feb 21, 2003
Index
Fund Manager : Mehul Dama (Since Sep 2021)
AB:Crisil 10 Yr Gilt Index 10,112
Inception Date : Feb 20, 2023 Nippon India ETF Nifty 100
NAV as on November 30, 2023: ₹210.9729
Fund Manager : Vivek Sharma (Since Feb 2023), Siddharth Deb (Since Feb 2023)
CAGR %
Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Particulars
1 Year 3 Years 5 Years Since Inception
NAV as on November 30, 2023: ₹10.5768
Nippon India ETF Nifty 100 7.31 16.21 13.15 13.30
Simple Annualised %
Particulars B:Nifty 100 TRI 7.83 16.85 14.03 14.27
6 Months Since Inception
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 14.16
Nippon India Nifty G-Sec Oct 2028 4.28 7.83
Maturity Index Fund Value of ₹ 10000 Invested

B:Nifty G-Sec Oct 2028 Index 4.55 7.94 Nippon India ETF Nifty 100 10,731 15,712 18,551 38,051

AB:Crisil 10 Yr Gilt Index 2.25 7.69 B:Nifty 100 TRI 10,783 15,974 19,287 41,685

Value of ₹ 10000 Invested AB:S&P BSE Sensex TRI 10,759 15,738 19,649 41,242

Nippon India Nifty G-Sec Oct 2028 10,212 Inception Date : Mar 22, 2013
Maturity Index Fund Fund Manager : Mehul Dama (Since Nov 2018)
B:Nifty G-Sec Oct 2028 Index 10,225
AB:Crisil 10 Yr Gilt Index 10,112
Nippon India ETF Nifty India Consumption
NAV as on November 30, 2023: ₹98.6125
Inception Date : Mar 6, 2023
CAGR %
Fund Manager : Vivek Sharma (Since Mar 2023), Siddharth Deb (Since Mar 2023) Particulars
1 Year 3 Years 5 Years Since Inception
Nippon India ETF Nifty 50 BeES Nippon India ETF Nifty India Consumption 14.12 19.39 13.66 14.48
NAV as on November 30, 2023: ₹222.3870
B:Nifty India Consumption TRI 14.57 19.91 14.08 14.73
CAGR %
Particulars AB:S&P BSE Sensex TRI 7.59 16.27 14.46 13.43
1 Year 3 Years 5 Years Since Inception
Value of ₹ 10000 Invested
Nippon India ETF Nifty 50 BeES 8.44 17.06 14.35 15.71
Nippon India ETF Nifty India Consumption 11,412 17,042 18,974 36,947
B:Nifty 50 TRI 8.47 17.12 14.45 16.08
B:Nifty India Consumption TRI 11,457 17,268 19,332 37,732
AB:S&P BSE Sensex TRI 7.59 16.27 14.46 16.62
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 33,795
Value of ₹ 10000 Invested
Inception Date : Apr 3, 2014
Nippon India ETF Nifty 50 BeES 10,844 16,063 19,558 245,663
Fund Manager : Mehul Dama (Since Nov 2018)
B:Nifty 50 TRI 10,847 16,086 19,646 263,484
AB:S&P BSE Sensex TRI 10,759 15,738 19,649 291,334
Nippon India ETF Nifty Dividend Opportunities 50
NAV as on November 30, 2023: ₹62.0201
Inception Date : Dec 28, 2001
CAGR %
Fund Manager : Mehul Dama (Since Sep 2021) Particulars
1 Year 3 Years 5 Years Since Inception
Nippon India ETF S&P BSE Sensex Nippon India ETF Nifty Dividend 26.74 25.25 16.86 14.25
Opportunities 50
NAV as on November 30, 2023: ₹747.2059
B:Nifty Dividend Opportunities 50 TRI 27.34 25.73 17.15 14.45
CAGR %
Particulars AB:S&P BSE Sensex TRI 7.59 16.27 14.46 13.49
1 Year 3 Years 5 Years Since Inception
Value of ₹ 10000 Invested
Nippon India ETF S&P BSE Sensex 7.61 16.19 14.36 11.80
Nippon India ETF Nifty Dividend 12,674 19,683 21,803 36,079
B:S&P BSE Sensex TRI 7.59 16.27 14.46 11.90 Opportunities 50
AB:Nifty 50 TRI 8.47 17.12 14.45 11.90 B:Nifty Dividend Opportunities 50 TRI 12,734 19,914 22,078 36,703
Value of ₹ 10000 Invested AB:S&P BSE Sensex TRI 10,759 15,738 19,649 33,831
Nippon India ETF S&P BSE Sensex 10,761 15,706 19,566 27,876 Inception Date : Apr 15, 2014
B:S&P BSE Sensex TRI 10,759 15,738 19,649 28,104 Fund Manager : Mehul Dama (Since Nov 2018)
AB:Nifty 50 TRI 10,847 16,086 19,646 28,111
Inception Date : Sep 24, 2014
Fund Manager : Mehul Dama (Since Nov 2018)

Fundamentals December 2023 98

 Nippon India ETF Nifty Infrastructure BeES Nippon India ETF Hang Seng BeES
NAV as on November 30, 2023: ₹683.1517 NAV as on November 30, 2023: ₹251.5998
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India ETF Nifty Infrastructure BeES 20.38 24.27 16.61 4.69 Nippon India ETF Hang Seng BeES -3.51 -8.69 -2.84 5.29
B:Nifty Infrastructure TRI 21.78 25.83 18.10 5.88 B:Hang Seng TRI -2.82 -8.05 -2.05 6.30
AB:Nifty 50 TRI 8.47 17.12 14.45 10.97 AB:Nifty 50 TRI 8.47 17.12 14.45 11.87
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India ETF Nifty Infrastructure BeES 12,038 19,223 21,569 18,304 Nippon India ETF Hang Seng BeES 9,649 7,608 8,659 20,309
B:Nifty Infrastructure TRI 12,178 19,962 22,986 21,231 B:Hang Seng TRI 9,718 7,769 9,018 23,134
AB:Nifty 50 TRI 10,847 16,086 19,646 39,413 AB:Nifty 50 TRI 10,847 16,086 19,646 46,687
Inception Date : Sep 29, 2010 Inception Date : Mar 9, 2010
Fund Manager : Mehul Dama (Since Nov 2018) Fund Manager : Kinjal Desai (Since May 2018), Siddharth Deb (Since Nov 2016), Akshay Sharma (Since Dec
2022)
Nippon India ETF Nifty Bank BeES
NAV as on November 30, 2023: ₹453.4952 Nippon India ETF S&P BSE Sensex Next 50
CAGR % NAV as on November 30, 2023: ₹62.0645
Particulars CAGR %
1 Year 3 Years 5 Years Since Inception Particulars
Nippon India ETF Nifty Bank BeES 3.62 15.03 10.64 16.53 1 Year 3 Years 5 Years Since Inception
B:Nifty Bank TRI 3.76 15.25 11.15 17.05 Nippon India ETF S&P BSE Sensex Next 19.32 22.15 NA 18.52
50
AB:Nifty 50 TRI 8.47 17.12 14.45 15.37
B:S&P BSE Sensex Next 50 TRI 19.83 22.68 NA 19.48
Value of ₹ 10000 Invested
AB:S&P BSE Sensex TRI 7.59 16.27 NA 15.73
Nippon India ETF Nifty Bank BeES 10,362 15,237 16,582 198,260
Value of ₹ 10000 Invested
B:Nifty Bank TRI 10,376 15,327 16,971 216,168
Nippon India ETF S&P BSE Sensex Next 11,932 18,254 NA 20,904
AB:Nifty 50 TRI 10,847 16,086 19,646 162,932 50
Inception Date : May 27, 2004 B:S&P BSE Sensex Next 50 TRI 11,983 18,495 NA 21,646
Fund Manager : Mehul Dama (Since Sep 2021) AB:S&P BSE Sensex TRI 10,759 15,738 NA 18,850

Nippon India ETF Nifty PSU Bank BeES Inception Date : Jul 30, 2019
NAV as on November 30, 2023: ₹55.9465 Fund Manager : Mehul Dama (Since July 2019)
CAGR %
Particulars Nippon India ETF Nifty IT
1 Year 3 Years 5 Years Since Inception NAV as on November 30, 2023: ₹34.4416
Nippon India ETF Nifty PSU Bank BeES 26.16 48.39 11.61 4.89 CAGR %
Particulars
B:Nifty PSU Bank TRI 26.93 49.40 12.32 5.45 1 Year 3 Years 5 Years Since Inception
AB:Nifty 50 TRI 8.47 17.12 14.45 9.60 Nippon India ETF Nifty IT 8.88 16.19 NA 27.39
Value of ₹ 10000 Invested B:NIFTY IT TRI 9.12 16.50 NA 27.83
Nippon India ETF Nifty PSU Bank BeES 12,616 32,779 17,322 21,568 AB:Nifty 50 TRI 8.47 17.12 NA 22.76
B:Nifty PSU Bank TRI 12,693 33,456 17,884 23,493 Value of ₹ 10000 Invested
AB:Nifty 50 TRI 10,847 16,086 19,646 43,761 Nippon India ETF Nifty IT 10,888 15,705 NA 22,943
Inception Date : Oct 25, 2007 B:NIFTY IT TRI 10,912 15,833 NA 23,214
Fund Manager : Mehul Dama (Since Nov 2018) AB:Nifty 50 TRI 10,847 16,086 NA 20,207

Nippon India ETF Nifty 50 Shariah BeES Inception Date : Jun 26, 2020
NAV as on November 30, 2023: ₹453.3902 Fund Manager : Mehul Dama (Since June 2020)
CAGR %
Particulars Nippon India Nifty Pharma ETF
1 Year 3 Years 5 Years Since Inception NAV as on November 30, 2023: ₹16.4937
Nippon India ETF Nifty 50 Shariah BeES 4.48 12.59 13.41 14.11 CAGR %
Particulars
B:Nifty50 Shariah TRI 5.51 13.79 14.65 15.27 1 Year 3 Years 5 Years Since Inception
AB:Nifty 50 TRI 8.47 17.12 14.45 15.75 Nippon India Nifty Pharma ETF 24.32 NA NA 5.36
Value of ₹ 10000 Invested B:Nifty Pharma TRI 24.61 NA NA 5.61
Nippon India ETF Nifty 50 Shariah BeES 10,448 14,286 18,768 69,707 AB:Nifty 50 TRI 8.47 NA NA 12.10
B:Nifty50 Shariah TRI 10,551 14,750 19,818 80,920 Value of ₹ 10000 Invested
AB:Nifty 50 TRI 10,847 16,086 19,646 85,965 Nippon India Nifty Pharma ETF 12,432 NA NA 11,343
Inception Date : Mar 18, 2009 B:Nifty Pharma TRI 12,461 NA NA 11,408
Fund Manager : Mehul Dama (Since Nov 2018) AB:Nifty 50 TRI 10,847 NA NA 13,174

Nippon India ETF Nifty Midcap 150 Inception Date : Jul 2, 2021
NAV as on November 30, 2023: ₹163.4586 Fund Manager : Mehul Dama (Since Jul 2021)
CAGR %
Particulars Nippon India Nifty Auto ETF
1 Year 3 Years 5 Years Since Inception NAV as on November 30, 2023: ₹178.2096
Nippon India ETF Nifty Midcap 150 32.58 29.49 NA 22.98 CAGR %
Particulars
B:Nifty Midcap 150 TRI 32.84 29.87 NA 23.35 1 Year 3 Years 5 Years Since Inception
AB:S&P BSE Sensex TRI 7.59 16.27 NA 14.95 Nippon India Nifty Auto ETF 33.34 NA NA 26.00
Value of ₹ 10000 Invested B:Nifty Auto TRI 33.66 NA NA 26.29
Nippon India ETF Nifty Midcap 150 13,258 21,756 NA 27,176 AB:Nifty 50 TRI 8.47 NA NA 8.33
B:Nifty Midcap 150 TRI 13,284 21,950 NA 27,569 Value of ₹ 10000 Invested
AB:S&P BSE Sensex TRI 10,759 15,738 NA 19,608 Nippon India Nifty Auto ETF 13,334 NA NA 15,371
Inception Date : Jan 31, 2019 B:Nifty Auto TRI 13,366 NA NA 15,438
Fund Manager : Mehul Dama (Since Jan 2019) AB:Nifty 50 TRI 10,847 NA NA 11,605
Inception Date : Jan 20, 2022
Fund Manager : Mehul Dama (Since Jan 2022)

99 December 2023 Fundamentals

 CPSE ETF Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight
NAV as on November 30, 2023: ₹58.3384 NAV as on November 30, 2023: ₹116.5858
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
CPSE ETF 50.07 45.78 20.47 13.28 Nippon India ETF Nifty SDL Apr 2026 Top 6.89 NA NA 5.57
20 Equal Weight
B:Nifty CPSE TRI 50.61 46.40 21.00 12.06
B:Nifty SDL Apr 2026 Top 20 Equal 7.00 NA NA 5.34
AB:Nifty 50 TRI 8.47 17.12 14.45 13.44
Weight Index
Value of ₹ 10000 Invested
AB:Crisil 10 Yr Gilt Index 6.77 NA NA 3.33
CPSE ETF 15,007 31,076 25,392 33,431 Value of ₹ 10000 Invested
B:Nifty CPSE TRI 15,061 31,478 25,947 30,103
Nippon India ETF Nifty SDL Apr 2026 Top 10,689 NA NA 11,567
AB:Nifty 50 TRI 10,847 16,086 19,646 33,893 20 Equal Weight
Inception Date : Mar 28, 2014 B:Nifty SDL Apr 2026 Top 20 Equal 10,700 NA NA 11,498
Weight Index
Fund Manager : Mehul Dama (Since Sep 2021)
AB:Crisil 10 Yr Gilt Index 10,677 NA NA 10,920
Nippon India ETF Nifty 1D Rate Liquid BeES Inception Date : Mar 25, 2021
NAV as on November 30, 2023: ₹1,000.0000
Fund Manager : Vivek Sharma (Since Mar 2021), Siddharth Deb (Since Mar 2021)
Simple Annualised % CAGR %
Particulars 7 Days 15 30 1 Year 3 Years 5 Years Since Nippon India ETF Nifty 5 yr Benchmark G-Sec
Days Days Inception NAV as on November 30, 2023: ₹53.6032
CAGR %
Nippon India ETF Nifty 1D Rate Particulars
Liquid BeES 1 Year 3 Years 5 Years Since Inception
B:Nifty 1D Rate Index 6.78 6.79 6.78 6.70 4.82 4.78 NA Nippon India ETF Nifty 5 yr Benchmark G- 6.69 NA NA 4.73
AB:Crisil 1 Yr T-Bill Index 6.09 6.34 7.34 6.97 4.72 5.63 5.89 Sec
Value of ₹ 10000 Invested B:Nifty 5 Yr Benchmark G-Sec Index 6.77 NA NA 4.73

Nippon India ETF Nifty 1D Rate AB:Crisil 10 Yr Gilt Index 6.77 NA NA 3.25
Liquid BeES Value of ₹ 10000 Invested
B:Nifty 1D Rate Index 10,011 10,025 10,052 10,670 11,516 12,631 NA Nippon India ETF Nifty 5 yr Benchmark G- 10,669 NA NA 11,305
AB:Crisil 1 Yr T-Bill Index 10,010 10,024 10,056 10,697 11,484 13,150 32,149 Sec

Inception Date : Jul 8, 2003 B:Nifty 5 Yr Benchmark G-Sec Index 10,677 NA NA 11,305
AB:Crisil 10 Yr Gilt Index 10,677 NA NA 10,887
Fund Manager : Siddharth Deb (Since Nov 2012)
Inception Date : Apr 5, 2021
NA has been mentioned as the benchmark data for corresponding period is not available.
Fund Manager : Pranay Sinha (Since Apr 2021), Siddharth Deb (Since Apr 2021)
Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt
NAV as on November 30, 2023: ₹24.5089 Nippon India Silver ETF
CAGR % NAV as on November 30, 2023: ₹74.8361
Particulars CAGR %
1 Year 3 Years 5 Years Since Inception Particulars
Nippon India ETF Nifty 8-13 yr G-Sec 6.86 3.17 6.58 6.47
1 Year 3 Years 5 Years Since Inception
Long Term Gilt Nippon India Silver ETF 19.66 NA NA 11.58
B:Nifty 8-13 yr G-Sec Index 7.01 3.53 6.81 6.68 B:Domestic Price of Silver 20.87 NA NA 12.32
AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 5.70 AB:
Value of ₹ 10000 Invested Value of ₹ 10000 Invested
Nippon India ETF Nifty 8-13 yr G-Sec 10,686 10,985 13,757 15,907 Nippon India Silver ETF 11,966 NA NA 12,213
Long Term Gilt
B:Domestic Price of Silver 12,087 NA NA 12,361
B:Nifty 8-13 yr G-Sec Index 10,701 11,099 13,903 16,141
AB:
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 15,080
Inception Date : Feb 2, 2022
Inception Date : Jul 5, 2016
Fund Manager : Vikram Dhawan (Since Feb 2022)
Fund Manager : Pranay Sinha (Since Mar 2021), Siddharth Deb (Since Mar 2021)

Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50:50
NAV as on November 30, 2023: ₹117.3918 Nippon India ETF Gold BeES
NAV as on November 30, 2023: ₹53.1545
CAGR %
Particulars CAGR %
1 Year 3 Years 5 Years Since Inception Particulars
1 Year 3 Years 5 Years Since Inception
Nippon India ETF Nifty CPSE Bond Plus 7.02 4.46 NA 4.65
SDL Sep 2024 50:50 Nippon India ETF Gold BeES 16.64 7.55 14.50 10.86
B:Nifty CPSE Bond Plus SDL Sep 2024 7.36 4.68 NA 4.78 B:Domestic Price of Gold 17.81 8.55 15.58 11.93
50:50 Index AB:
AB:Crisil 1 Yr T-Bill Index 6.97 4.72 NA 4.72 Value of ₹ 10000 Invested
Value of ₹ 10000 Invested Nippon India ETF Gold BeES 11,664 12,448 19,690 56,203
Nippon India ETF Nifty CPSE Bond Plus 10,702 11,403 NA 11,485 B:Domestic Price of Gold 11,781 12,797 20,630 65,975
SDL Sep 2024 50:50
AB:
B:Nifty CPSE Bond Plus SDL Sep 2024 10,736 11,474 NA 11,529
50:50 Index Inception Date : Mar 8, 2007
AB:Crisil 1 Yr T-Bill Index 10,697 11,487 NA 11,509 Fund Manager : Vikram Dhawan (Since Feb 2022)
Inception Date : Nov 13, 2020
Fund Manager : Vivek Sharma (Since Mar 2021), Siddharth Deb (Since Mar 2021)

Fundamentals December 2023 100

 Nippon India Gold Savings Fund Nippon India Silver ETF Fund of Fund (FOF)
NAV as on November 30, 2023: ₹24.6831 NAV as on November 30, 2023: ₹11.9776
CAGR % CAGR %
Particulars Particulars
1 Year 3 Years 5 Years Since Inception 1 Year 3 Years 5 Years Since Inception
Nippon India Gold Savings Fund 17.45 7.03 14.09 7.35 Nippon India Silver ETF Fund of Fund 21.03 NA NA 10.40
(FOF)
B:Domestic Price of Gold 17.81 8.55 15.58 8.79
B:Domestic Price of Silver 20.87 NA NA 12.32
AB:
AB:
Value of ₹ 10000 Invested
Value of ₹ 10000 Invested
Nippon India Gold Savings Fund 11,745 12,267 19,341 24,683
Nippon India Silver ETF Fund of Fund 12,103 NA NA 11,978
B:Domestic Price of Gold 11,781 12,797 20,630 29,268
(FOF)
AB: B:Domestic Price of Silver 12,087 NA NA 12,361
Inception Date : Mar 7, 2011 AB:
Fund Manager : Mehul Dama (Since Nov 2018) Inception Date : Feb 2, 2022
Nippon India Nifty Next 50 Junior BeES FoF Fund Manager : Mehul Dama (Since Feb 2022)
NAV as on November 30, 2023: ₹17.6678
CAGR %
Nippon India Retirement Fund - Income Generation Scheme
Particulars NAV as on November 30, 2023: ₹17.2159
1 Year 3 Years 5 Years Since Inception CAGR %
Nippon India Nifty Next 50 Junior BeES 10.27 16.70 NA 12.77 Particulars
FoF 1 Year 3 Years 5 Years Since Inception
B:Nifty Next 50 TRI 10.60 17.44 NA 13.57 Nippon India Retirement Fund - Income 6.98 5.44 7.01 6.36
Generation Scheme
AB:S&P BSE Sensex TRI 7.59 16.27 NA 14.98
B:CRISIL Hybrid 85+15 - Conservative 7.47 6.42 8.79 8.36
Value of ₹ 10000 Invested Index
Nippon India Nifty Next 50 Junior BeES 11,027 15,915 NA 17,668 AB:Crisil 10 Yr Gilt Index 6.77 2.94 5.96 6.10
FoF
Value of ₹ 10000 Invested
B:Nifty Next 50 TRI 11,060 16,219 NA 18,266
Nippon India Retirement Fund - Income 10,698 11,728 14,037 17,216
AB:S&P BSE Sensex TRI 10,759 15,738 NA 19,368 Generation Scheme
Inception Date : Mar 8, 2019 B:CRISIL Hybrid 85+15 - Conservative 10,747 12,057 15,242 20,279
Index
Fund Manager : Mehul Dama (Since Mar 2019)
AB:Crisil 10 Yr Gilt Index 10,677 10,910 13,360 16,838
Nippon India Passive Flexicap FoF
Inception Date : Feb 11, 2015
NAV as on November 30, 2023: ₹16.2458
CAGR % Fund Manager : Pranay Sinha (Since Mar 2021), Sanjay Doshi (Since Jul 2020)
Particulars
1 Year 3 Years 5 Years Since Inception Nippon India Retirement Fund - Wealth Creation Plan
Nippon India Passive Flexicap FoF 13.47 NA NA 18.13 NAV as on November 30, 2023: ₹22.0885
B:Nifty 500 TRI 13.84 NA NA 17.62 CAGR %
Particulars
AB:S&P BSE Sensex TRI 7.59 NA NA 13.64 1 Year 3 Years 5 Years Since Inception
Value of ₹ 10000 Invested Nippon India Retirement Fund - Wealth 17.88 20.80 11.54 9.42
Nippon India Passive Flexicap FoF 11,347 NA NA 16,246 Creation Plan

B:Nifty 500 TRI 11,384 NA NA 16,040 B:S&P BSE 500 TRI 13.44 20.21 16.00 12.69

AB:S&P BSE Sensex TRI 10,759 NA NA 14,511 AB:S&P BSE Sensex TRI 7.59 16.27 14.46 11.60
Value of ₹ 10000 Invested
Inception Date : Jan 1, 2021
Nippon India Retirement Fund - Wealth 11,788 17,656 17,271 22,089
Fund Manager : Ashutosh Bhargava (Since Jan 2023)
Creation Plan
Nippon India Asset Allocator FoF B:S&P BSE 500 TRI 11,344 17,397 21,015 28,641
NAV as on November 30, 2023: ₹16.0935 AB:S&P BSE Sensex TRI 10,759 15,738 19,649 26,295
CAGR % Inception Date : Feb 11, 2015
Particulars
1 Year 3 Years 5 Years Since Inception Fund Manager : Pranay Sinha (Since Mar 2021), Sanjay Doshi (Since Jul 2020)
Nippon India Asset Allocator FoF 22.08 NA NA 18.46
B:CRISIL Hybrid 50+50 - Moderate Index 9.12 NA NA 9.57
AB:S&P BSE Sensex TRI 7.59 NA NA 11.35
Value of ₹ 10000 Invested
Nippon India Asset Allocator FoF 12,208 NA NA 16,094
B:CRISIL Hybrid 50+50 - Moderate Index 10,912 NA NA 12,926
AB:S&P BSE Sensex TRI 10,759 NA NA 13,525
Inception Date : Feb 8, 2021
Fund Manager : Sushil Budhia (Since Mar 2021), Ashutosh Bhargava (Since Feb 2021)

Performance as on , 2023
B: Benchmark, AB: Additional Benchmark, TRI: Total Return Index

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investments.

₹
₹ ₹
₹
₹

101 December 2023 Fundamentals

 SCHEME PERFORMANCE - FUND MANAGER WISE AS ON NOVEMBER 30, 2023
Fund Manager: Sailesh Raj Bhan
CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Pharma Fund 29.19 27.78 16.65 15.05 19.84 17.00
Nippon India Multi Cap Fund 27.44 21.17 33.60 24.47 18.39 18.15
Nippon India Large Cap Fund 18.31 10.10 25.10 18.19 15.41 14.76

Note:
a. Sailesh Raj Bhan manages 3 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Anand Gupta

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Equity Savings Fund ## 9.57 7.89 9.48 9.43 2.32 9.36
Nippon India Arbitrage Fund 6.93 7.87 4.90 5.31 5.02 4.95

Note:
a. Anand Gupta manages 2 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Samir Rachh

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Small Cap Fund 38.40 38.24 40.95 34.26 27.10 22.06

Note:
a. Samir Rachh manages 1 open-ended scheme of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Dhrumil Shah

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Value Fund 25.53 13.84 26.60 20.04 18.72 15.83
Nippon India Flexi Cap Fund 21.06 13.84 N.A. N.A. N.A. N.A.
Nippon India Equity Savings Fund# 9.57 7.89 9.48 9.43 2.32 9.36
Nippon India Hybrid Bond Fund# 8.49 7.47 8.27 6.42 3.48 8.79

Note:
a. Dhrumil Shah manages 4 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).
# Co-Fund Manager

102 December 2023 Fundamentals

 SCHEME PERFORMANCE - FUND MANAGER WISE AS ON NOVEMBER 30, 2023
Fund Manager: Mehul Dama
CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
TOP 3
CPSE ETF* 50.07 50.61 45.78 46.40 20.47 21.00
Nippon India Nifty Smallcap 250 Index Fund# 36.41 38.24 32.01 34.26 N.A. N.A.
Nippon India Nifty Auto ETF* 33.34 33.66 N.A. N.A. N.A. N.A.
BOTTOM 3
Nippon India Index Fund - S&P BSE Sensex Plan# 6.79 7.59 15.46 16.27 13.57 14.46
Nippon India ETF Nifty 50 Shariah BeES* 4.48 5.51 12.59 13.79 13.41 14.65
Nippon India ETF Nifty Bank BeES* 3.62 3.76 15.03 15.25 10.64 11.15

Note:
a. Mehul Dama manages 26 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided hereinare on the basis of 1 Year
CAGR returns.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's
# The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Ashutosh Bhargava

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
TOP 3
Nippon India Multi Cap Fund# 27.44 21.17 33.60 24.47 18.39 18.15
Nippon India Asset Allocator FoF 22.08 9.12 N.A. N.A. N.A. N.A.
Nippon India Quant Fund 19.88 11.21 22.63 19.08 16.73 15.48
BOTTOM 3
Nippon India ELSS Tax Saver Fund# 15.61 13.84 23.39 20.04 12.46 15.83
Nippon India Passive Flexicap FoF 13.47 13.84 N.A. N.A. N.A. N.A.
Nippon India Balanced Advantage Fund 10.13 9.12 12.47 11.64 10.60 11.93

Note:
a. Ashutosh Bhargava manages 8 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided hereinare on the basis of 1 Year
CAGR returns.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).
# Co-Fund Manager

Fund Manager: Sanjay Doshi

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Power & Infra Fund 39.72 21.78 36.64 25.83 21.22 18.10
Nippon India Growth Fund# 34.32 32.84 31.11 29.87 23.30 21.87
Nippon India Retirement Fund - Wealth Creation Scheme 17.88 13.44 20.80 20.21 11.54 16.00
Nippon India Retirement Fund - Income Generation Scheme 6.98 7.47 5.44 6.42 7.01 8.79

Note:
a. Sanjay Doshi manages 4 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).
# Assistant Fund Manager

Fund Manager: Kinjal Desai

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Taiwan Equity Fund# 33.45 22.71 N.A. N.A. N.A. N.A.
Nippon India US Equity Opportunities Fund# 21.14 16.29 8.77 14.09 13.62 16.62
Nippon India Multi Asset Fund# 15.96 14.08 15.01 14.75 N.A. N.A.
Nippon India Japan Equity Fund# 14.71 18.83 0.66 4.79 5.90 8.72
Nippon India ETF Hang Seng BeES* -3.51 -2.82 -8.69 -8.05 -2.84 -2.05

Note:
a. Kinjal Desai manages 5 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
# The performance details provided herein are of Growth Plan (Regular Plan).
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's

Fundamentals December 2023 103

 SCHEME PERFORMANCE - FUND MANAGER WISE AS ON NOVEMBER 30, 2023
Co-Fund Manager: Tejas Sheth
CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Small Cap Fund# 38.40 38.24 40.95 34.26 27.10 22.06
Nippon India Multi Asset Fund 15.96 14.08 15.01 14.75 N.A. N.A.

Note:
a. Tejas Sheth manages 2 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).
# Assistant Fund Manager

Fund Manager: Vinay Sharma

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Banking & Financial Services Fund 17.24 4.60 24.37 12.80 13.43 12.59
Nippon India Focused Equity Fund 14.57 13.44 24.00 20.21 17.34 16.00

Note:
a. Vinay Sharma manages 3 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Pranay Sinha

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
TOP 3
Nippon India Retirement Fund - Wealth Creation Scheme# 17.88 13.44 20.80 20.21 11.54 16.00
Nippon India Retirement Fund - Income Generation Scheme# 6.98 7.47 5.44 6.42 7.01 8.79
Nippon India ETF Nifty 8-13 yr G-Sec Long Term Gilt* 6.86 7.01 3.17 3.53 6.58 6.81
BOTTOM 3
Nippon India Nivesh Lakshya Fund# 6.36 6.33 3.58 3.96 7.68 8.01
Nippon India Dynamic Bond Fund# 6.30 6.40 3.72 4.06 6.38 7.49
Nippon India Gilt Securities Fund# 5.66 6.61 3.24 3.94 6.91 7.06

Note:
a. Pranay Sinha manages 8 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided hereinare on the basis of 1 Year
CAGR returns.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
# The performance details provided herein are of Growth Plan (Regular Plan).
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's

Fund Manager: Anju Chhajer

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Money Market Fund 7.38 7.45 5.26 5.32 6.08 5.79
Nippon India Floating Rate Fund 7.03 7.13 4.81 4.92 7.02 7.06
Nippon India Arbitrage Fund 6.93 7.87 4.90 5.31 5.02 4.95
Nippon India Liquid Fund 6.91 7.25 4.85 5.12 5.18 5.32
Nippon India Low Duration Fund 6.66 7.63 4.88 5.50 5.89 6.35
Nippon India Overnight Fund 6.57 6.70 4.66 4.82 N.A. N.A.

Note:
a. Anju Chhajer manages 6 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

104 December 2023 Fundamentals

 SCHEME PERFORMANCE - FUND MANAGER WISE AS ON NOVEMBER 30, 2023
Fund Manager: Vivek Sharma
CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
TOP 3
Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50:50* 7.02 7.36 4.46 4.68 N.A. N.A.
Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight* 6.89 7.00 N.A. N.A. N.A. N.A.
Nippon India Corporate Bond Fund# 6.86 7.21 5.24 5.56 6.69 7.59
BOTTOM 3
Nippon India Nifty AAA PSU Bond Plus SDL - Sep 2026 Maturity 50:50 Index Fund# 6.30 6.70 N.A. N.A. N.A. N.A.
Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund# 6.16 6.43 N.A. N.A. N.A. N.A.
Nippon India Income Fund# 5.83 6.28 3.48 3.96 6.74 7.39

Note:
a. Vivek Sharma manages 16 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided hereinare on the basis of 1 Year
CAGR returns.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's
# The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Siddharth Deb

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
TOP 3
Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50:50* 7.02 7.36 4.46 4.68 N.A. N.A.
Nippon India Liquid Fund# 6.91 7.25 4.85 5.12 5.18 5.32
Nippon India ETF Nifty SDL Apr 2026 Top 20 Equal Weight* 6.89 7.00 N.A. N.A. N.A. N.A.
BOTTOM 3
Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund# 6.16 6.43 N.A. N.A. N.A. N.A.
Nippon India ETF Nifty 1D Rate Liquid BeES* 5.79 6.70 3.87 4.82 3.72 4.78
Nippon India ETF Hang Seng BeES* -3.51 -2.82 -8.69 -8.05 -2.84 -2.05

Note:
a. Siddharth Deb manages 15 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided hereinare on the basis of 1 Year
CAGR returns.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's
# The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Meenakshi Dawar

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Value Fund 25.53 13.84 26.60 20.04 18.72 15.83
Nippon India Flexi Cap Fund 21.06 13.84 N.A. N.A. N.A. N.A.
Nippon India Equity Hybrid Fund ## 14.95 9.78 19.45 13.88 9.35 13.12

Note:
a. Meenakshi Dawar manages 3 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Aishwarya Deepak Agarwal

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Vision Fund 21.13 19.92 22.13 23.34 15.62 18.00

Note:
a. Aishwarya Deepak Agarwal manages 1 open-ended scheme of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fundamentals December 2023 105

 SCHEME PERFORMANCE - FUND MANAGER WISE AS ON NOVEMBER 30, 2023
Fund Manager: Sushil Budhia
CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
TOP 3
Nippon India Asset Allocator FoF 22.08 9.12 N.A. N.A. N.A. N.A.
Nippon India Multi Asset Fund 15.96 14.08 15.01 14.75 N.A. N.A.
Nippon India Equity Hybrid Fund ## 14.95 9.78 19.45 13.88 9.35 13.12
BOTTOM 3
Nippon India Credit Risk Fund ## 7.67 9.57 8.39 8.10 4.13 9.05
Nippon India Strategic Debt Fund ## 6.60 12.65 8.66 9.05 -1.05 9.42
Nippon India Short Term Fund 6.43 7.56 4.64 5.39 6.65 7.16

Note:
a. Sushil Budhia manages 9 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided hereinare on the basis of 1 Year
CAGR returns.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Vikram Dhawan

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Silver ETF* 19.66 20.87 N.A. N.A. N.A. N.A.
Nippon India ETF Gold BeES* 16.64 17.81 7.55 8.55 14.50 15.58
Nippon India Multi Asset Fund# 15.96 14.08 15.01 14.75 N.A. N.A.

Note:
a. Vikram Dhawan manages 3 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's
# The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Amar Kalkundrikar

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Vision Fund 21.13 19.92 22.13 23.34 15.62 18.00
Nippon India Consumption Fund 18.12 14.57 26.46 19.91 20.17 14.08
Nippon India Balanced Advantage Fund 10.13 9.12 12.47 11.64 10.60 11.93

Note:
a. Amar Kalkundrikar manages 3 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Co-Fund Manager: Bhavik Dave

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Banking & Financial Services Fund 17.24 4.60 24.37 12.80 13.43 12.59

Note:
a. Bhavik Dave manages 1 open-ended scheme of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

106 December 2023 Fundamentals

 SCHEME PERFORMANCE - FUND MANAGER WISE AS ON NOVEMBER 30, 2023
Co-Fund Manager: Prateek Poddar
CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Focused Equity Fund 14.57 13.44 24.00 20.21 17.34 16.00

Note:
a. Prateek Poddar manages 1 open-ended scheme of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Rupesh Patel

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Growth Fund 34.32 32.84 31.11 29.87 23.30 21.87
Nippon India ELSS Tax Saver Fund 15.61 13.84 23.39 20.04 12.46 15.83

Note:
a. Rupesh Patel manages 2 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure. The performance details provided herein are of Growth Plan (Regular Plan).

Fund Manager: Akshay Sharma

CAGR %
Scheme Name/s 1 Year Return 3 Years Return 5 Years Return
Scheme Benchmark Scheme Benchmark Scheme Benchmark
Nippon India Taiwan Equity Fund# 33.45 22.71 N.A. N.A. N.A. N.A.
Nippon India US Equity Opportunities Fund# 21.14 16.29 8.77 14.09 13.62 16.62
Nippon India Multi Asset Fund# 15.96 14.08 15.01 14.75 N.A. N.A.
Nippon India Japan Equity Fund# 14.71 18.83 0.66 4.79 5.90 8.72
Nippon India ETF Hang Seng BeES* -3.51 -2.82 -8.69 -8.05 -2.84 -2.05

Note:
a. Akshay Sharma manages 5 open-ended schemes of Nippon India Mutual Fund.
b. In case the number of schemes managed by a fund manager is more than six, performance data of other schemes, the top 3 and bottom 3 schemes managed by fund manager has been provided herein.
c. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of advertisement.
d. Different plans shall have a different expense structure.
# The performance details provided herein are of Growth Plan (Regular Plan).
* The Scheme does not offer any Plans/Options. The performance details are provided at Scheme level using IDCW Reinvestment NAV's

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investments.

₹
₹ ₹ ₹
₹

Fundamentals December 2023 107

 FUNDS AT A GLANCE
Scheme Name Nippon India Large Cap Fund Nippon India Vision Fund Nippon India Quant Fund Nippon India Growth Fund
Type of Scheme An open ended equity scheme predominantly An open ended equity scheme investing in both large An open ended equity scheme investing in quant Mid Cap Fund - An open ended equity scheme
investing in large cap stocks. cap and mid cap stock. model theme. predominantly investing in mid cap stocks.
Allotment Date August 08, 2007 October 08, 1995 April 18, 2008 October 08, 1995

Investment Objective The primary investment objective of the scheme is to The primary investment objective of the Scheme is to The investment objective of the Scheme is to The primary investment objective of the Scheme is to
seek to generate long term capital appreciation by achieve long term growth of capital by investing in generate capital appreciation through investment in achieve long-term growth of capital by investment in
investing predominantly into equity and equity related equity and equity related securities through a equity and equity related instruments. The Scheme equity and equity related securities through a
instruments of large cap companies. The secondary research based investment approach. The secondary will seek to generate capital appreciation by investing research based investment approach. However, there
objective is to generate consistent returns by objective is to generate consistent returns by in an active portfolio of stocks selected on the basis can be no assurance that the investment objective of
investing in debt, money market securities, REITs investing in debt, money market securities, REITs of a Quant model. There is no assurance or the Scheme will be realized, as actual market
and InvITs. and InvITs. However, there can be no assurance that guarantee that the investment objective of the movements may be at variance with anticipated
However, there can be no assurance that the the investment objective of the Scheme will be scheme will be achieved trends.
investment objective of the Scheme will be realized. realized, as actual market movements may be at
variance with anticipated trends.
Fund Manager Sailesh Raj Bhan Amar Kalkundrikar, Ashutosh Bhargava# Rupesh Patel,
Ashutosh Bhargava (Co-Fund Manager)# Aishwarya Deepak Agarwal # Sanjay Doshi (Assistant Fund Manager)#
Benchmark S&P BSE 100 TRI Nifty LargeMidcap 250 TRI S&P BSE 200 TRI NIFTY Midcap 150 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 1% if redeemed or switched out on or before 10% of the units allotted shall be redeemed without 0.25% if redeemed or switched out on or before 1% if redeemed or switched out on or before
completion of 7 days from the date of allotment of any exit load, on or before completion of 12 months completion of 1 month from the date of allotment of completion of 1 month from the date of allotment of
units. from the date of allotment of units. units. units.
Nil, thereafter. Any redemption in excess of such limit in the first 12 Nil, thereafter. Nil, thereafter.
months from the date of allotment shall be subject to
the following exit load, Redemption of units would be
done on First in First out Basis (FIFO):
• 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment
of units.
• Nil, thereafter.
Investment Plans/ Options • Under both Direct and other than Direct plan • Growth Plan - Growth Option • IDCW Plan - Payout & Reinvestment Option Under both Direct and other than Direct plan
Growth Plan - Growth Option
IDCW Plan - Payout & Reinvestment Option
Minimum Application Amount Purchase: ₹100 & in multiples of ₹1 thereafter Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter
Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹1000 & in multiples of ₹1 thereafter Additional Purchase: ₹100 & in multiples of ₹1
thereafter thereafter

Scheme Name Nippon India Focused Equity Fund Nippon India Small Cap Fund Nippon India Value Fund Nippon India Multi Cap Fund
Type of Scheme An open ended Multi Cap Equity Scheme investing in An open-ended equity scheme predominantly An open ended equity scheme following a value Multi Cap Fund - An open ended equity scheme
maximum 30 stocks. investing in small cap stocks. investment strategy. investing across large cap, mid cap, small cap
stocks.
Allotment Date April 28, 2018 (Date of Recategorisation) September 16, 2010 June 08, 2005 March 28, 2005

Investment Objective The primary investment objective of the scheme is to The primary investment objective of the scheme is to The primary investment objective of this scheme is to The primary investment objective of the scheme is to
generate long-term capital growth by predominantly generate long term capital appreciation by investing seek capital appreciation and/or to generate seek to generate capital appreciation & provide long-
investing in an active and concentrated portfolio of predominantly in equity and equity related consistent returns by actively investing in equity/ term growth opportunities by investing in a portfolio
equity & equity related instruments up to 30 instruments of small cap companies and the equity related securities predominantly into value constituted of equity securities & equity related
companies across market capitalization. The secondary objective is to generate consistent returns stocks. securities and the secondary objective is to generate
secondary objective of the scheme is to generate by investing in debt and money market securities. However there can be no assurance that the consistent returns by investing in debt and money
consistent returns by investing in debt, money investment objective of the Scheme will be realized. market securities.
market securities, REITs and InvITs. There is no
assurance or guarantee that the investment objective
of the scheme will be achieved.
Fund Manager Vinay Sharma, Samir Rachh Dhrumil Shah, Sailesh Raj Bhan
Prateek Poddar (Co-Fund Manager)# Tejas Sheth (Assistant Fund Manager)# Meenakshi Dawar # Ashutosh Bhargava (Co-Fund Manager)#
Benchmark S&P BSE 500 TRI Nifty Smallcap 250 TRI Nifty 500 TRI NIFTY 500 Multicap 50:25:25 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 10% of the units allotted shall be redeemed without 1% if redeemed or switched out on or before 10% of the units allotted shall be redeemed without any exit load, on or before completion of 12 months
any exit load, on or before completion of 12 months completion of 1 month from the date of allotment of from the date of allotment of units.
from the date of allotment of units. units. Any redemption in excess of such limit in the first 12 months from the date of allotment shall be subject to
Any redemption in excess of such limit in the first 12 Nil, thereafter. the following exit load, Redemption of units would be done on First in First out Basis (FIFO):
months from the date of allotment shall be subject to • 1% if redeemed or switched out on or before completion of 12 months from the date of allotment of
the following exit load, Redemption of units would be units.
done on First in First out Basis (FIFO): • Nil, thereafter.
• 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment
of units.
• Nil, thereafter.
Investment Plans/ Options Under both Direct and other than Direct plan
Growth Plan - Growth Option
IDCW Plan - Payout & Reinvestment Option
Minimum Application Amount Purchase: ₹5000 & in multiples of ₹1 thereafter Fresh/ additional subscriptions/switch-ins will not be Purchase: ₹500 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 allowed/ accepted at any point of time till further Additional Purchase: ₹500 & in multiples of ₹1 Additional Purchase: ₹100 & in multiples of ₹1
thereafter notice, w.e.f. July 07, 2023. Fresh registrations thereafter thereafter
through Systematic Investment Plan (“SIP”) or
Systematic Transfer Plan (“STP”) or such other
special product shall continue with a limit of Rs. 5
lakhs per day per PAN.

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

Fundamentals December 2023 108

 FUNDS AT A GLANCE
Scheme Name Nippon India Flexi Cap Fund Nippon India ELSS Tax Saver Fund Nippon India Banking & Financial Nippon India Power & Infra Fund
Services Fund
Type of Scheme An open ended dynamic equity scheme investing An open ended equity linked saving scheme with a An open ended equity scheme investing in Banking & An Open Ended Equity Scheme investing in power &
across large cap, mid cap, small cap stocks. statutory lock in of 3 years and tax benefit. Financial Services Sector. infrastructure sectors.
Allotment Date August 13, 2021 September 21, 2005 May 26, 2003 May 08, 2004

Investment Objective The primary investment objective of the scheme is to The primary objective of the scheme is to generate The primary investment objective of the Scheme is to The investment objective of the scheme is to seek
seek to generate capital appreciation & provide long- long term capital appreciation from a portfolio that is seek to generate continuous returns by actively long term capital appreciation by investing in
term growth opportunities by investing in a portfolio invested predominantly in equity and equity related investing in equity and equity related securities of equity/equity related instruments of the companies
constituted of equity securities & equity related instruments.However, there can be no assurance companies in the Banking and Financial services that are engaged in power and infrastructure space
securities and the secondary objective is to generate that the scheme's investment objective shall be sector. The AMC will have the discretion to in India. There is no assurance or guarantee that the
consistent returns by investing in debt and money achieved completely or partially invest in any of the type of investment objective of the scheme will be achieved.
market securities. securities stated above with a view to maximize the
The fund will have the flexibility to invest in a broad returns or on defensive considerations. However,
range of companies with an objective to maximize there can be no assurance that the investment
the returns, at the same time trying to minimize the objective of the Scheme will be realized, as actual
risk by reasonable diversification. However there can market movements may be at variance with
be no assurance that the investment objective of the anticipated trends.
scheme will be realized, as actual market movements
may be at variance with anticipated trends.
Fund Manager Meenakshi Dawar, Rupesh Patel Vinay Sharma Sanjay Doshi#
Dhrumil Shah, Ashutosh Bhargava (Co-fund manager)# Bhavik Dave (Co-Fund Manager)#
Nikhil Rungta (Co-Fund Manager) till Nov 20, 2023#
Benchmark Nifty 500 TRI Nifty Financial Services TRI Nifty Infrastructure TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 10% of the units allotted shall be redeemed without Nil 1% if redeemed or switched out on or before completion of 1 month from the date of allotment of units.
any exit load, on or before completion of 12 months Nil, thereafter.
from the date of allotment of units. Any redemption
in excess of such limit in the first 12 months from
the date of allotment shall be subject to the following
exit load.
Redemption of units would be done on First in First
out Basis (FIFO):
• 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment
of units.
• Nil, thereafter.
Investment Plans/ Options The Scheme offers following Plans/Options under Under both Direct and other than Direct plan • Under both Direct and other than Direct plan • Growth Plan - Growth Option • IDCW Plan - Payout &
Direct Plan and Regular Plan: Growth Plan - Growth Option Reinvestment
(a) Growth Plan IDCW Plan - Payout (Adhoc, Annual)
(1) Growth Option
(b) IDCW Plan
(1) Payout Option
(2) Reinvestment Option
Minimum Application Amount Purchase: ₹500 & in multiples of ₹1 thereafter Purchase: ₹500 & in multiples of ₹500 thereafter Purchase: ₹5000 & in multiples of ₹1 thereafter
Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹500 & in multiples of ₹500 Additional Purchase: ₹1000 & in multiples of ₹1 thereafter
thereafter thereafter

Scheme Name Nippon India Pharma Fund Nippon India Consumption Fund Nippon India Japan Equity Fund Nippon India US Equity Opportunities
Fund
Type of Scheme An open ended equity scheme investing in pharma An Open Ended Equity Scheme following An open ended equity scheme following Japan An open ended equity scheme following US focused
sector. consumption theme. focused theme. theme.
Allotment Date June 05, 2004 September 30, 2004 August 26, 2014 July 23, 2015

Investment Objective The primary investment objective of the scheme is to The investment objective of the scheme is to seek The primary investment objective of Nippon India The primary investment objective of Nippon India US
seek to generate consistent returns by investing in long term capital appreciation by investing atleast Japan Equity Fund is to provide long term capital Equity Opportunities Fund is to provide long term
equity and equity related or fixed income securities of 80% of its net assets in equity/equity related appreciation to investors by primarily investing in capital appreciation to investors by primarily investing
Pharma and other associated companies. instruments of the companies that are likely to equity and equity related securities of companies in equity and equity related securities of companies
benefit directly or indirectly from the domestic listed on the recognized stock exchanges of Japan listed on recognized stock exchanges in the US and
consumption led demand. and the secondary objective is to generate consistent the secondary objective is to generate consistent
There is no assurance or guarantee that the returns by investing in debt and money market returns by investing in debt and money market
investment objective of the scheme will be achieved. securities of India. However, there can be no securities in India. However, there can be no
assurance or guarantee that the investment objective assurance or guarantee that the investment objective
of the scheme will be achieved. of the scheme will be achieved.
Fund Manager Sailesh Raj Bhan# Amar Kalkundrikar # Kinjal Desai,
Akshay Sharma
Benchmark S&P BSE Healthcare TRI Nifty India Consumption TRI S&P Japan 500 TRI S&P 500 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 1% if redeemed or switched out on or before completion of 1 month from the date of allotment of units. 1% if redeemed or switched out on or before 1% if redeemed or switched out on or before
Nil, thereafter. completion of 1 year from the date of allotment of completion of 1 month from the date of allotment of
units. units.
Nil, thereafter. Nil
Investment Plans/ Options • Under both Direct and other than Direct plan • Growth Plan - Growth Option • IDCW Plan - Payout & Under both Direct and other than Direct plan
Reinvestment Growth Plan - Growth Option
IDCW Plan - Payout & Reinvestment Option
Minimum Application Amount Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 thereafter Additional Purchase: ₹100 & in multiples of ₹1
thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

109 December 2023 Fundamentals

 FUNDS AT A GLANCE
Scheme Name Nippon India Taiwan Equity Fund Nippon India Innovation Fund Nippon India Overnight Fund Nippon India Liquid Fund
Type of Scheme An open ended equity scheme following Taiwan An open ended equity scheme investing in innovation An open-ended debt scheme investing in overnight An Open Ended Liquid Scheme. Relatively Low
focused theme. theme securities. Relatively Low Interest Rate Risk and interest rate risk and moderate Credit Risk.
Relatively Low Credit Risk.
Allotment Date December 11, 2021 August 28, 2023 December 18, 2018 December 09, 2003

Investment Objective The primary investment objective of scheme is to The investment objective of Nippon India Innovation To generate optimal returns with low risk and high The investment objective of the Scheme is to
provide long term capital appreciation to investors Fund is to provide long term capital appreciation to liquidity by investing in debt and money market generate optimal returns consistent with moderate
by primarily investing in equity and equity related investors by primarily investing in equity and equity instruments with overnight maturity. However, there levels of risk and high liquidity by investing in debt
securities of companies listed on the recognized related securities of companies seeking to benefit can be no assurance or guarantee that the and money market instruments.
stock exchanges of Taiwan and the secondary from innovation i.e companies that invest in l investment objective of the scheme will be achieved.
objective is to generate consistent returns by innovation, research and development, new product
investing in debt and money market securities of development or new platforms to enhance their
India. However, there can be no assurance or business and gain share in their respective sectors.
guarantee that the investment objective of the However, there can be no assurance or guarantee
scheme will be achieved. that the investment objective of the scheme will be
achieved.
Fund Manager Kinjal Desai, Vinay Sharma# Anju Chhajer Anju Chhajer
Akshay Sharma Siddharth Deb Siddharth Deb #
Benchmark Taiwan Capitalization Weighted Stock Index (TAIEX) Nifty 500 TRI CRISIL Liquid Overnight Index NIFTY Liquid Index B-I
TRI
Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 1% if redeemed or switched out on or before 1% if redeemed or switched out on or before Nil Upto Day 1 - 0.0070%;
completion of 3 months from the date of allotment of completion of 1 year from the date of allotment of Day 2 - 0.0065%;
units. units. Nil, thereafter Day 3 - 0.0060%;
Nil, thereafter Day 4 - 0.0055%;
Day 5 - 0.0050%;
Day 6 - 0.0045%;
Day 7 onwards - 0.0000%
Investment Plans/ Options The Scheme offers following Plans/Options under Direct Plan and Regular Plan: Under both Direct and Regular Plan Under both Direct and other than Direct plan
(a) Growth Plan Growth Option Growth Plan - Growth Option
(1) Growth Option IDCW Option - Payout Option (Monthly, Quarterly) & IDCW Plan - Payout Option (Monthly, Quarterly) &
(b) IDCW Plan Reinvestment Option (Daily, Weekly, Monthly, Reinvestment Option (Daily, Weekly, Monthly,
(1) Payout Option Quarterly) Quarterly)
(2) Reinvestment Option
Minimum Application Amount Purchase: ₹500 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter Purchase:
Additional Purchase: ₹100 & in multiples of ₹1 thereafter Additional Purchase: ₹100 & in multiples of ₹1 Daily IDCW Plan - ₹10000 & in multiples of ₹1
thereafter thereafter
Weekly IDCW Plan - ₹5000 & in multiples of ₹1
thereafter
Other Plans and Plans - ₹1000 and in multiples of
₹1 thereafter
Additional Purchase:
Daily IDCW Plan- ₹10000 & in multiples of ₹1
thereafter
Weekly IDCW Plan - ₹1000 & in multiples of ₹1
thereafter
Other Plans - ₹1000 and in multiples of ₹1
thereafter

Scheme Name Nippon India Money Market Fund Nippon India Ultra Short Duration Nippon India Low Duration Fund Nippon India Corporate Bond Fund
Fund (Number of Segregated Portfolio
-1)
Type of Scheme An open ended debt scheme investing in money An open ended ultra-short term debt scheme An open ended low duration debt scheme investing An open ended debt scheme predominantly investing
market instruments. Relatively Low interest rate risk investing in debt and money market instruments in debt and money market instruments such that the in AA+ and above rated corporate bonds. Relatively
and moderate Credit Risk. such that the Macaulay duration of the portfolio is Macaulay duration of the portfolio is between 6 - 12 High interest rate risk and moderate Credit Risk.
between 3 - 6 months. Moderate interest rate risk months. Relatively High interest rate risk and
and moderate Credit Risk. moderate Credit Risk.
Allotment Date June 16, 2005 December 07, 2001 March 20, 2007 September 14, 2000

Investment Objective The investment objective of the Scheme is to The investment objective of the Scheme is to The investment objective of the Scheme is to To generate income through investments
generate optimal returns consistent with moderate generate optimal returns consistent with moderate generate optimal returns consistent with moderate predominantly in debt instruments of various
levels of risk and liquidity by investing in money levels of risk and liquidity by investing in debt and levels of risk and liquidity by investing in debt maturities with a view to maximizing income while
market instruments money market instruments. securities and money market securities. maintaining the optimum balance of yield, safety and
liquidity.
Fund Manager Anju Chhajer# Vivek Sharma# Anju Chhajer Vivek Sharma#
Vivek Sharma#
Benchmark CRISIL Money Market B-I Index NIFTY Ultra Short Duration Debt Index B-I CRISIL Low Duration Debt B-I Index NIFTY Corporate Bond Index B-III

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil Nil Nil
Not applicable for Segregated Portfolio
Investment Plans/ Options Under both Direct and other than Direct plan Under both Direct and other than Direct plan Under both Direct and other than Direct plan
Growth Plan - Growth Option Growth Plan - Growth Option Growth Plan - Growth Option
IDCW Plan - Payout Option (Monthly, Quarterly) & Reinvestment Option (Daily, Weekly, Monthly, Quarterly) IDCW Plan - Payout Option (Adhoc, Weekly, Monthly, IDCW Plan - Payout Option
Quarterly) & Reinvestment Option (Adhoc, Daily, (Adhoc,Weekly,MonthlyQuarterly) & Reinvestment
Weekly, Monthly, Quarterly) Option (Adhoc,Weekly,MonthlyQuarterly)
Minimum Application Amount Purchase: Purchase: Purchase: Purchase:
Daily IDCW Plan - ₹10000 & in multiples of ₹1 Daily IDCW Plan - ₹10000 & in multiples of ₹1 Daily IDCW Plan - ₹10000 & in multiples of ₹1 Growth Plan - ₹1000 & in multiples of ₹1 thereafter
thereafter thereafter thereafter Other Plans and Options - ₹5000 & in multiples of
Other Plans and Plans - ₹500 & in multiples of ₹1 Weekly IDCW Plan - ₹5000 & in multiples of ₹1 Weekly IDCW Plan - ₹5000 & in multiples of ₹1 ₹1 thereafter
thereafter thereafter thereafter Additional Purchase: ₹1000 & in multiples of ₹1
Additional Purchase: Other Plans and Plans - ₹100 and in multiples of ₹1 Other Plans and Plans - ₹500 and in multiples of ₹1 thereafter
Daily IDCW Plan - ₹10000 & in multiples of ₹1 thereafter thereafter
thereafter Additional Purchase: Additional Purchase:
Other Plans - ₹500 & in multiples of ₹1 thereafter Daily IDCW Plan- ₹10000 &in multiples of ₹1 Daily IDCW Plan - ₹10000 & in multiples of ₹1
thereafter thereafter
Weekly IDCW Plan - ₹1000 & in multiples of ₹1 Weekly IDCW Plan - ₹1000 & in multiples of ₹1
thereafter thereafter
Other Plans - ₹100 and in multiples of ₹1 thereafter Other Plans - ₹100 and in multiples of ₹1 thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. For Nippon India Innovation Fund - Kinjal Desai. @ Kinjal Desai and Akshay Sharma – For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

Fundamentals December 2023 110

 FUNDS AT A GLANCE
Scheme Name Nippon India Banking & PSU Debt Nippon India Floating Rate Fund Nippon India Short Term Fund Nippon India Nivesh Lakshya Fund
Fund
Type of Scheme An open ended debt scheme predominantly investing An open ended debt scheme predominantly investing An open ended short term debt scheme investing in An open ended debt scheme investing in instruments
in Debt instruments of banks, Public Sector in floating rate instruments (including fixed rate instruments such that the Macaulay duration of the such that the Macaulay duration of the portfolio is
Undertakings, Public Financial Institutions and instruments converted to floating rate exposures portfolio is between 1 to 3 years. Relatively High greater than 7 years. Relatively High interest rate risk
Municipal Bonds. Relatively High interest rate risk using swaps/ derivatives). Relatively High interest interest rate risk and moderate Credit Risk. and Relatively Low Credit Risk.
and moderate Credit Risk. rate risk and Low Credit Risk.
Allotment Date May 15, 2015 August 27, 2004 December 18, 2002 July 06, 2018

Investment Objective To generate income over short to medium term The primary objective of the scheme is to generate The primary investment objective of the scheme is to The primary investment objective of the scheme is to
horizon through investments in debt and money regular income through investment predominantly in generate stable returns for investors with a short generate optimal returns consistent with moderate
market instruments of various maturities, consisting floating rate and money market instruments and term investment horizon by investing in debt and levels of risk. This income may be complemented by
predominantly of securities issued by entities such as fixed rate debt instruments. money market instruments. capital appreciation of the portfolio. Accordingly,
Banks, Public Sector Undertakings (PSUs) and Public investments shall predominantly be made in Debt &
Financial Institutions (PFIs). However, there can be Money Market Instruments
no assurance or guarantee that the investment
objective of the Scheme will be achieved.
Fund Manager Pranay Sinha Anju Chhajer# Sushil Budhia Pranay Sinha #
Vivek Sharma# Vivek Sharma#
Benchmark Nifty Banking & PSU Debt Index CRISIL Short Term Bond Index CRISIL Short Duration Debt B-II Index CRISIL Long Duration Debt A-III Index

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil 20% of the units allotted can be redeemed without
any exit load, on or before completion of 12 months
from the date of allotment of units.
Any redemption in excess of such limit in the first 12
months from the date of allotment shall be subject to
the following exit load. Redemption of units would be
done on First in First out Basis (FIFO):
• 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment
of units.
• Nil, if redeemed or switched out after completion
of 12 months from the date of allotment of units.
Investment Plans/ Options Under both Direct and other than Direct plan Under both Direct and other than Direct plan Under both Direct and other than Direct plan Under both Direct and Regular Plan
Growth Plan - Growth Option Growth Plan - Growth Option Growth Plan - Growth Option Growth Plan - Growth Option
IDCW Plan - Payout Option (Adhoc,Weekly, Monthly, IDCW Plan - Payout Option (Adhoc,Weekly, Monthly, IDCW Plan -Payout Option (Adhoc, Monthly, IDCW Plan - Payout Option (Adhoc,Monthly,Quarterly,
Quarterly) & Reinvestment Option (Adhoc, Quarterly) & Reinvestment Option (Adhoc, Quarterly) & Reinvestment Option (Adhoc, Monthly, Half yearly, Annual) & Reinvestment Option (Adhoc,
Weekly,Monthly, Quarterly) Daily,Weekly, Monthly, Quarterly) Quarterly) Monthly, Quarterly, Half yearly, Annual)
Minimum Application Amount Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter Purchase: ₹ 5000 & in multiples of ₹ 1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 thereafter Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹ 1000 & in multiples of ₹ 1
thereafter thereafter

Scheme Name Nippon India Credit Risk Fund (Number Nippon India Strategic Debt Fund Nippon India Income Fund Nippon India Dynamic Bond Fund
of Segregated Portfolios- 2) (Number of Segregated Portfolios - 2)
Type of Scheme An open ended debt scheme predominantly investing An open ended medium term debt scheme investing An open ended medium term debt scheme investing An open ended dynamic debt scheme investing
in AA and below rated corporate bonds (excluding in instruments such that the Macaulay duration of in instruments such that the Macaulay duration of across duration. Relatively High interest rate risk and
AA+ rated corporate bonds). Relatively High interest the portfolio is between 3 to 4 years. Relatively High the portfolio is between 4 to 7 years. Relatively High Relatively Low Credit Risk.
rate risk and Relatively High Credit Risk. interest rate risk and Relatively High Credit Risk. interest rate risk and Relatively Low Credit Risk.
Allotment Date June 08, 2005 June 26, 2014 January 01, 1998 November 15, 2004

Investment Objective The primary investment objective of this option is to To generate income through investments in a range The primary investment objective of the scheme is to The primary investment objective of the scheme is to
generate optimal returns consistent with moderate of debt and money market instruments of various generate optimal returns consistent with moderate generate optimal returns consistent with moderate
level of risk. This income may be complemented by maturities with a view to maximizing income while level of risk. This income may be complemented by levels of risk. This income may be complemented by
capital appreciation of the portfolio. Accordingly maintaining the optimum balance of yield, safety and capital appreciation of the portfolio. Accordingly, capital appreciation of the portfolio. Accordingly,
investments shall predominantly be made in Debt & liquidity. investments shall predominantly be made in Debt & investments shall predominantly be made in Debt &
Money Market Instruments. Money Market Instruments. Money Market Instruments.
Fund Manager Sushil Budhia# Vivek Sharma# Pranay Sinha
Vivek Sharma#
Benchmark NIFTY Credit Risk Bond Index C-III CRISIL Medium Duration Debt C-III Index NIFTY Medium to Long Duration Debt Index A-III CRISIL Dynamic Bond A-III Index

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 10% of the units allotted shall be redeemed without 1%, if redeemed or switched out on or before 0.25%, if redeemed or switched out on or before Nil
any exit load, on or before completion of 12 months completion of 12 months from the date of allotment completion of 15 days from the date of allotment of
from the date of allotment of units. of units. units.
Any redemption in excess of such limit in the first 12 Nil thereafter. Nil, thereafter.
months from the date of allotment shall be subject to Not applicable for Segregated Portfolio
the following exit load. Redemption of units would be
done on First in First out Basis (FIFO):
• 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment
of units.
• Nil, if redeemed or switched out after completion
of 12 months from the date of allotment of units.
Not applicable for Segregated Portfolio
Investment Plans/ Options Under both Direct and other than Direct plan Under both Direct and other than Direct plan Under both Direct and other than Direct plan
IDCW Plan - Payout Option (Adhoc, Quarterly) & Reinvestment Option (Adhoc, Quarterly) Growth Plan - Growth Option Growth Plan - Growth Option
IDCW Plan - Payout Option (Monthly,Quarterly, Half IDCW Plan - Payout Option (Adhoc,Quarterly) &
yearly, Annual) & Reinvestment Option (Monthly, Reinvestment Option (Adhoc,Quarterly)
Quarterly, Half yearly, Annual)
Minimum Application Amount Purchase: ₹500 & in multiples of ₹1 thereafter Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: Purchase: ₹5000 & in multiples of ₹1 thereafter
Additional Purchase: ₹500 & in multiples of ₹1 Additional Purchase: ₹1000 & in multiples of ₹1 Growth Plan - ₹5000 & in multiples of ₹1 thereafter Additional Purchase: ₹1000 & in multiples of ₹1
thereafter thereafter Monthly IDCW Plan - ₹25000 & in multiples of ₹1 thereafter
thereafter
Quarterly IDCW Plan - ₹10000 & in multiples of ₹1
thereafter
Half Yearly IDCW Plan - ₹5000 & in multiples of ₹1
thereafter
Annual IDCW Plan - ₹5000 & in multiples of ₹1
thereafter
Additional Purchase: ₹1000 & in multiples of ₹1
thereafter
# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

111 December 2023 Fundamentals

 FUNDS AT A GLANCE
Scheme Name Nippon India Gilt Securities Fund Nippon India Balanced Advantage Nippon India Equity Hybrid Fund Nippon India Equity Savings Fund
Fund (Number of Segregated Portfolios- 2) (Number of Segregated Portfolios- 2)
Type of Scheme An open ended debt scheme investing in government An Open Ended Dynamic Asset Allocation Fund. An open ended hybrid scheme investing An open ended scheme investing in equity, arbitrage
securities across maturity. Relatively High interest predominantly in equity and equity related and debt.
rate risk and Relatively Low Credit Risk. instruments.
Allotment Date August 22, 2008 November 15, 2004 June 08, 2005 May 30, 2015

Investment Objective The primary investment objective of the scheme is to The investment objective of the scheme is to The primary investment objective of this option is to The primary investment objective of this fund is to
generate optimal credit risk-free returns by investing capitalize on the potential upside in equity markets generate consistent returns and appreciation of generate income and capital appreciation by
in a portfolio of securities issued and guaranteed by while attempting to limit the downside by dynamically capital by investing in a mix of securities comprising investing in arbitrage opportunities & pure equity
the Central Government and State Government. managing the portfolio through investment in equity of equity, equity related instruments & fixed income investments along with investments in debt securities
& equity related instruments and active use of debt, instruments. & money market instruments. However, there can be
money market instruments and derivatives.There is no assurance or guarantee that the investment
no assurance or guarantee that the investment objective of the scheme will be achieved.
objective of the scheme will be achieved.
Fund Manager Pranay Sinha# Amar Kalkundrikar, Meenakshi Dawar Dhrumil Shah (Co-Fund Manager)
Ashutosh Bhargava, Sushil Budhia# Sushil Budhia
Sushil Budhia # Anand Gupta#
Benchmark CRISIL Dynamic Gilt Index CRISIL Hybrid 50+50 - Moderate Index CRISIL Hybrid 35+65 - Aggressive Index Nifty Equity Savings Index

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 0.25%, if redeemed or switched out on or before 10% of the units allotted shall be redeemed without 10% of the units allotted shall be redeemed without 10% of the units allotted shall be redeemed without
completion of 7 days from the date of allotment of any exit load, on or before completion of 12 months any exit load, on or before completion of 12 months any exit load, on or before completion of 1 month
units. from the date of allotment of units. Any redemption from the date of allotment of units. from the date of allotment of units.
Nil, thereafter. in excess of such limit in the first 12 months from Any redemption in excess of such limit in the first 12 Any redemption in excess of such limit within 1
the date of allotment shall be subject to the following months from the date of allotment shall be subject to month from the date of allotment shall be subject to
exit load. the following exit load, Redemption of units would be the following exit load, Redemption of units would be
Redemption of units would be done on First in First done on First in First out Basis (FIFO): done on First in First out Basis (FIFO):
out Basis (FIFO): • 1% if redeemed or switched out on or before • 1% if redeemed or switched out on or before
• 1% if redeemed or switched out on or before completion of 12 months from the date of allotment completion of 1 month from the date of allotment of
completion of 12 months from the date of allotment of units. units.
of units. • Nil, thereafter. • Nil, thereafter.
• Nil, thereafter. Not applicable for Segregated Portfolio Not applicable for Segregated Portfolio
Investment Plans/ Options Under both Direct and other than Direct plan • Under both Direct and other than Direct plan Under both Direct and other than Direct plan
Growth Plan - Growth option • Growth Plan - Growth Option Growth Plan - Growth Option
IDCW Plan - Monthly IDCW (Payout & Reinvestment • IDCW Plan - Payout & Reinvestment Option IDCW Plan - Payout Option (Adhoc, Monthly, Quarterly) & Reinvestment Option (Adhoc, Monthly, Quarterly)
option)
Provident Fund (PF) Option - Automatic Capital
Appreciation Payout Option (ACAPO), Defined
Maturity Date Option (DMDO), Automatic Annual
Reinvestment Option (AARO)
Minimum Application Amount Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter Purchase: ₹500 & in multiples of ₹1 thereafter Purchase: ₹5000 & in multiples of ₹1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹500 & in multiples of ₹1 Additional Purchase: ₹1000 & in multiples of ₹1
thereafter thereafter thereafter thereafter

Scheme Name Nippon India Arbitrage Fund Nippon India Hybrid Bond Fund Nippon India Multi Asset Fund Nippon India Index Fund - Nifty 50
(Number of Segregated Portfolios - 2) Plan
Type of Scheme An open ended scheme investing in arbitrage An open ended hybrid scheme investing An open ended scheme investing in Equity, Debt and An open ended scheme replicating/ tracking Nifty
opportunities. predominantly in debt instruments. Exchange Traded Commodity Derivatives and Gold 50.
ETF.
Allotment Date October 14, 2010 December 29, 2003 August 28, 2020 September 28, 2010

Investment Objective The investment objective of the scheme is to The primary investment objective of the scheme is to The primary investment objective of Nippon India The primary investment objective of the scheme is to
generate income by taking advantage of the generate regular income in order to make regular Multi Asset Fund is to seek long term capital growth replicate the composition of the Nifty 50, with a view
arbitrage opportunities that potentially exists between dividend payments to unitholders and the secondary by investing in equity and equity related securities, to generate returns that are commensurate with the
cash and derivative market and within the derivative objective is growth of capital. debt & money market instruments and Exchange performance of the Nifty 50, subject to tracking
segment along with investments in debt securities & Traded Commodity Derivatives and Gold ETF as errors.
money market instruments. permitted by SEBI from time to time. However, there
can be no assurance or guarantee that the
investment objective of the Scheme will be achieved.
Fund Manager Anand Gupta Sushil Budhia Ashutosh Bhargava, Mehul Dama
Anju Chhajer# Dhrumil Shah (Co-Fund Manager)# Vikram Dhawan,
Sushil Budhia,
Tejas Sheth (Co-Fund Manager),
Kinjal Desai (Fund Manager - Overseas Investment),
Akshay Sharma (Fund Manager - Overseas
Investment)
Benchmark Nifty 50 Arbitrage Index Crisil Hybrid 85+15 - Conservative Index 50% of S&P BSE 500 TRI, 20% of MSCI World Index Nifty 50 TRI
TRI, 15% of Crisil Short Term Bond Index & 15% of
Domestic prices of Gold
Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 0.25% if redeemed or switched out on or before 10% of the units allotted shall be redeemed without 10% of the units allotted shall be redeemed without 0.25% if redeemed or switched out on or before
completion of 1 month from the date of allotment of any exit load, on or before completion of 12 months any exit load, on or before completion of 12 months completion of 7 days from the date of allotment of
units. from the date of allotment of units. from the date of allotment of units. units.
Nil, thereafter. Any redemption in excess of such limit in the first 12 Any redemption in excess of such limit in the first 12 Nil, thereafter.
months from the date of allotment shall be subject to months from the date of allotment shall be subject to
the following exit load. Redemption of units would be the following exit load. Redemption of units would be
done on First in First out Basis (FIFO): done on First in First out Basis (FIFO):
• 1% if redeemed or switched out on or before • 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment completion of 12 months from the date of allotment
of units. of units.
• Nil, if redeemed or switched out after completion • Nil, if redeemed or switched out after completion
of 12 months from the date of allotment of units. of 12 months from the date of allotment of units.
Not applicable for Segregated Portfolio w.e.f Oct 03, 2023
Investment Plans/ Options Under both Direct and other than Direct plan Under both Direct and other than Direct plan Under Direct Plan and Regular Plan Under both Direct and other than Direct plan
Growth Plan - Growth Option Growth Plan - Growth Option Growth Plan - Growth Option Growth Plan - Growth Option
IDCW Plan - Payout Option (Adhoc, Monthly*) & IDCW Plan - Payout Option (Monthly, Quarterly) & IDCW Plan - Payout & Reinvestment Option IDCW Plan - Payout Option (Quarterly, Half yearly,
Reinvestment Option (Adhoc, Monthly*) Reinvestment Option (Monthly, Quarterly) Annual) & Reinvestment Option (Quarterly, Half
*Monday preceding last Thursday of the month yearly, Annual)
Minimum Application Amount Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: ₹100 & in multiples of ₹1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 thereafter Additional Purchase: ₹100 & in multiples of ₹1
thereafter
# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

Fundamentals December 2023 112

 FUNDS AT A GLANCE
Scheme Name Nippon India Index Fund - S&P BSE Nippon India Nifty Smallcap 250 Nippon India Nifty Midcap 150 Index Nippon India Nifty 50 Value 20 Index
Sensex Plan Index Fund Fund Fund
Type of Scheme An open ended scheme replicating/tracking S&P BSE An open ended scheme replicating/tracking Nifty An open ended scheme replicating/tracking Nifty An open ended scheme replicating/tracking Nifty 50
Sensex. Smallcap 250 Index. Midcap 150 Index. Value 20 Index.
Allotment Date September 28, 2010 October 16, 2020 February 19, 2021

Investment Objective The primary investment objective of the scheme is to The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide
replicate the composition of the S&P BSE Sensex, investment returns closely corresponding to the total investment returns closely corresponding to the total investment returns closely corresponding to the total
with a view to generate returns that are returns of the securities as represented by the Nifty returns of the securities as represented by the Nifty returns of the securities as represented by the Nifty
commensurate with the performance of the S&P BSE Smallcap 250 Index before expenses, subject to Midcap 150 Index before expenses, subject to 50 Value 20 Index before expenses, subject to
Sensex, subject to tracking errors. tracking errors. However, there can be no assurance tracking errors. However, there can be no assurance tracking errors. However, there can be no assurance
or guarantee that the investment objective of the or guarantee that the investment objective of the or guarantee that the investment objective of the
Scheme will be achieved Scheme will be achieved Scheme will be achieved.
Fund Manager Mehul Dama

Benchmark S&P BSE Sensex TRI Nifty Smallcap 250 TRI Nifty Midcap 150 TRI Nifty 50 Value 20 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 0.25% if redeemed or switched out on or before Nil
completion of 7 days from the date of allotment of
units.
Nil, thereafter.
Investment Plans/ Options Under both Direct and other than Direct plan The Scheme offers following Plans/Options under The Scheme offers following Plans/Options under The Scheme offers following Plans/Options under
Growth Plan - Growth Option Direct Plan and Regular Plan: Direct Plan and Regular Plan: Direct Plan and Regular Plan:
IDCW Plan - Payout Option (Quarterly, Half yearly, (a) Growth Plan (a) Growth Plan (a) Growth Plan
Annual) & Reinvestment Option (Quarterly, Half (1) Growth Option (1) Growth Option (1) Growth Option
yearly, Annual) (b) IDCW Plan (b) IDCW Plan (b) IDCW Plan
(1) Payout Option (1) Payout Option (1) Payout Option
(2) Reinvestment Option (2) Reinvestment Option (2) Reinvestment Option
Minimum Application Amount Purchase: ₹5000 & in multiples of ₹1 thereafter Purchase: ₹5000 & in multiples of ₹1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 Purchase: ₹ 100 & in multiples of ₹ 1 thereafter Purchase: ₹ 100 & in multiples of ₹ 1 thereafter Additional Purchase: ₹1000 & in multiples of ₹1
thereafter Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹100 & in multiples of ₹1 thereafter
thereafter thereafter

Scheme Name Nippon India Nifty Alpha Low Volatility Nippon India Nifty AAA CPSE Bond Plus Nippon India Nifty AAA PSU Bond Plus Nippon India Nifty SDL Plus G-Sec - Jun
30 Index Fund SDL - Apr 2027 Maturity 60:40 Index SDL - Sep 2026 Maturity 50:50 Index 2028 Maturity 70:30 Index Fund
Fund Fund
Type of Scheme An open-ended scheme replicating/tracking Nifty An open-ended Target Maturity Index Fund investing An open-ended Target Maturity Index Fund investing An open-ended Target Maturity Index Fund investing
Alpha Low Volatility 30 Index. in constituents of Nifty AAA CPSE Bond Plus SDL Apr in constituents of Nifty AAA PSU Bond Plus SDL Sep in constituents of Nifty SDL Plus G-Sec Jun 2028
2027 60:40 Index. A Relatively High interest rate risk 2026 50:50 Index. A Relatively High interest rate risk 70:30 Index. A Relatively High interest rate risk and
and Relatively Low Credit Risk. and Relatively Low Credit Risk. Relatively Low Credit Risk.
Allotment Date August 19, 2022 March 29, 2022 October 27, 2022 November 24, 2022

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide
investment returns closely corresponding to the total investment returns closely corresponding to the total investment returns corresponding to the total returns investment returns corresponding to the total returns
returns of the securities as represented by the Nifty returns of the securities as represented by the Nifty of the securities as represented by the Nifty AAA PSU of the securities as represented by the Nifty SDL Plus
Alpha Low Volatility 30 Index before expenses, AAA CPSE Bond Plus SDL Apr 2027 60:40 Index Bond Plus SDL Sep 2026 50:50 Index before G-Sec Jun 2028 70:30 Index before expenses,
subject to tracking errors. However, there can be no before expenses, subject to tracking errors. However, expenses, subject to tracking errors. However there subject to tracking errors. However, there can be no
assurance or guarantee that the investment objective there can be no assurance or guarantee that the can be no assurance or guarantee that the assurance or guarantee that the investment objective
of the Scheme will be achieved. investment objective of the Scheme will be achieved. investment objective of the Scheme will be achieved. of the Scheme will be achieved.
Fund Manager Mehul Dama Vivek Sharma
Siddharth Deb
Benchmark Nifty Alpha Low Volatility 30 TRI Nifty AAA CPSE Bond Plus SDL Apr 2027 60:40 Nifty AAA PSU Bond Plus SDL Sep 2026 50:50 Index Nifty SDL Plus G-Sec Jun 2028 70:30 Index
Index
Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil

Investment Plans/ Options The Scheme offers following Plans/Options under The Scheme offers following Plans/Options under Direct Plan and Regular Plan:(a) Growth Plan(1) Growth Option(b) IDCW Plan(1) Payout Option(2) Reinvestment
Direct Plan and Regular Plan: Option
(a) Growth Plan
(1) Growth Option
(b) IDCW Plan
(1) Payout Option
(2) Reinvestment Option
Minimum Application Amount Purchase: ₹1000 & in multiples of ₹1 thereafter Purchase: ₹ 1000 & in multiples of ₹ 1 thereafter
Additional Purchase: ₹1000 & in multiples of ₹1 Additional Purchase: ₹1000 & in multiples of ₹1 thereafter
thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

113 December 2023 Fundamentals

 FUNDS AT A GLANCE
Scheme Name Nippon India Nifty G-Sec Sep 2027 Nippon India Nifty G-Sec Jun 2036 Nippon India Nifty SDL Plus G-Sec - Nippon India Nifty G-Sec Oct 2028
Maturity Index Fund Maturity Index Fund Jun 2029 Maturity 70:30 Index Fund Maturity Index Fund
Type of Scheme An open-ended Target Maturity Index Fund investing An open-ended Target Maturity Index Fund investing An open-ended Target Maturity Index Fund investing An open-ended Target Maturity Index Fund investing
in constituents of Nifty G-Sec Sep 2027 Index. A in constituents of Nifty G-Sec Jun 2036 Index. A in constituents of Nifty SDL Plus G-Sec Jun 2029 in constituents of Nifty G-Sec Oct 2028 Index. A
Relatively High Interest rate risk and Relatively Low Relatively High Interest rate risk and Relatively Low 70:30 Index. A Relatively High interest rate risk and Relatively High interest rate risk and Relatively Low
Credit Risk. Credit Risk. Relatively Low Credit Risk. Credit Risk.
Allotment Date December 06, 2022 December 19, 2022 February 20, 2023 March 06, 2023

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide
investment returns corresponding to the total returns investment returns corresponding to the total returns investment returns corresponding to the total returns investment returns corresponding to the total returns
of the securities as represented by the Nifty G-Sec of the securities as represented by the Nifty G-Sec of the securities as represented by the Nifty SDL Plus of the securities as represented by the Nifty G-Sec
Sep 2027 Index before expenses, subject to tracking Jun 2036 Index before expenses, subject to tracking G-Sec Jun 2029 70:30 Index before expenses, Oct 2028 Index before expenses, subject to tracking
errors. However, there can be no assurance or errors. However, there can be no assurance or subject to tracking errors. However, there can be no errors. However, there can be no assurance or
guarantee that the investment objective of the guarantee that the investment objective of the assurance or guarantee that the investment objective guarantee that the investment objective of the
Scheme will be achieved. Scheme will be achieved. of the Scheme will be achieved. Scheme will be achieved.
Fund Manager Vivek Sharma Vivek Sharma, Vivek Sharma
Siddharth Deb Siddharth Deb Siddharth Deb
Benchmark Nifty G-Sec Sep 2027 Index Nifty G-Sec Jun 2036 Index Nifty SDL Plus G-Sec Jun 2029 70:30 Index Nifty G-Sec Oct 2028 Index

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil

Investment Plans/ Options The Scheme offers following Plans/Options under Direct Plan and Regular Plan:(a) Growth Plan(1) Growth Option(b) IDCW Plan(1) Payout Option(2) Reinvestment Option

Minimum Application Amount Purchase: ₹ 1000 & in multiples of ₹ 1 thereafter

Additional Purchase: ₹1000 & in multiples of ₹1 thereafter

Scheme Name Nippon India ETF Nifty 50 BeES Nippon India ETF S&P BSE Sensex Nippon India ETF Nifty 50 Value 20 Nippon India ETF Nifty Next 50 Junior
BeES
Type of Scheme An Open Ended Index Exchange Traded Scheme. An Open Ended Index Exchange Traded Fund. An Open-ended Index Exchange Traded Fund.

Allotment Date December 28, 2001 September 24, 2014 June 18, 2015 February 21, 2003

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the Scheme is to provide
investment returns that, before expenses, closely investment returns closely corresponding to the total investment returns closely corresponding to the total returns that, before expenses, closely correspond to
correspond to the total returns of the Securities as returns of the securities as represented by the S&P returns of the securities as represented by the Nifty the returns of Securities as represented by Nifty Next
represented by the Nifty 50 Index. There can be no BSE Sensex Index before expenses, subject to 50 Value 20 Index before expenses, subject to 50 Index. There can be no assurance or guarantee
assurance or guarantee that the investment objective tracking errors. However, there can be no assurance tracking errors. However, there can be no assurance that the investment objective of the Scheme will be
of the Scheme will be achieved. or guarantee that the investment objective of the or guarantee that the investment objective of the achieved.
Scheme will be achieved. Scheme will be achieved.
Fund Manager Mehul Dama

Benchmark Nifty 50 TRI S&P BSE Sensex TRI Nifty 50 Value 20 TRI Nifty Next 50 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil Not Applicable Nil

Investment Plans/ Options Growth Option Not Applicable Growth Option

Minimum Application Amount Through Stock Exchange - One Unit. Through Stock Exchange - One Unit.Directly with the Through Stock Exchange - One Unit. Through Stock Exchange - One Unit.
Directly with the Mutual fund - In creation unit Mutual fund - In creation unit size@@ viz. 10,000 Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit
size@@ viz. 50,000 units & in mulitiples thereafter units & in mulitiples thereafter size@@ viz. 30,000 units & in mulitiples thereafter size@@ viz. 10,000 units & in mulitiples thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

Fundamentals December 2023 114

 FUNDS AT A GLANCE
Scheme Name Nippon India ETF Nifty 100 Nippon India ETF Nifty India Nippon India ETF Nifty Dividend Nippon India ETF Nifty Infrastructure
Consumption Opportunities 50 BeES
Type of Scheme An Open Ended Index Exchange Traded Fund. An open ended index scheme listed on the Exchange
in the form of an Exchange Traded Fund (ETF)
tracking the Nifty Infrastructure Index.
Allotment Date March 22, 2013 April 03, 2014 April 15, 2014 September 29, 2010

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide
investment returns that, before expenses, closely investment returns that, before expenses, closely investment returns that, before expenses, closely returns that, before expenses, closely correspond to
correspond to the total returns of the securities as correspond to the total returns of the securities as correspond to the total returns of the securities as the total returns of the Securities as represented by
represented by the Nifty 100 Index, subject to represented by the Nifty India Consumption Index, represented by the Nifty Dividend Opportunities 50 the Nifty Infrastructure Index by investing in the
tracking errors. However, there can be no assurance subject to tracking errors. However, there can be no Index, subject to tracking errors. However, there can Securities in the same proportion as in the
or guarantee that the investment objective of the assurance or guarantee that the investment objective be no assurance or guarantee that the investment Index.There can be no assurance or guarantee that
Scheme will be achieved. of the Scheme will be achieved. objective of the Scheme will be achieved. the investment objective of the Scheme will be
achieved.
Fund Manager Mehul Dama

Benchmark Nifty 100 TRI Nifty India Consumption TRI Nifty Dividend Opportunities 50 TRI Nifty Infrastructure TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Not Applicable Nil

Investment Plans/ Options Not Applicable Growth Option

Minimum Application Amount Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit.
Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit
size@@ viz. 100,000 units & in mulitiples thereafter size@@ viz. 60,000 units & in mulitiples thereafter size@@ viz. 75,000 units & in mulitiples thereafter size@@ viz. 5,000 units & in mulitiples thereafter

Scheme Name Nippon India ETF Nifty Bank BeES Nippon India ETF Nifty PSU Bank BeES Nippon India ETF Nifty 50 Shariah BeES Nippon India ETF Nifty Midcap 150
Type of Scheme An Open Ended Index Exchange Traded Scheme. An open ended index scheme, listed on the An Open Ended Index Exchange Traded Scheme. An Open-ended Index Exchange Traded Fund.
Exchange in the form of an Exchange Traded Fund
(ETF) tracking the Nifty PSU Bank Index.
Allotment Date May 27, 2004 October 25, 2007 March 18, 2009 January 31, 2019

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide
returns that, before expenses, closely correspond to returns that, before expenses, closely correspond to returns that, before expenses, closely correspond to investment returns closely corresponding to the total
the total returns of the Securities as represented by the total returns of the Securities as represented by the total returns of the Securities as represented by returns of the securities as represented by the Nifty
the Nifty Bank Index.There can be no assurance or the Nifty PSU Bank Index. There can be no the Nifty50 Shariah Index by investing in Securities Midcap150 Index before expenses, subject to
guarantee that the investment objective of the assurance or guarantee that the investment objective which are constituents of the Nifty50 Shariah Index tracking errors. However, there can be no assurance
Scheme will be achieved. of the Scheme will be achieved. in the same proportion as in the Index. Investors to or guarantee that the investment objective of the
note that Nippon India ETF Nifty 50 Shariah BeES is Scheme will be achieved.
not a Shariah compliant scheme.There can be no
assurance or guarantee that the investment objective
of the Scheme will be achieved.
Fund Manager Mehul Dama

Benchmark Nifty Bank TRI Nifty PSU Bank TRI Nifty50 Shariah TRI Nifty Midcap 150 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil Not Applicable

Investment Plans/ Options Growth Option Not Applicable

Minimum Application Amount Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit.
Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit
size@@ viz. 10,000 units & in mulitiples thereafter size@@ viz. 50,000 units & in mulitiples thereafter size@@ viz. 10,000 units & in mulitiples thereafter size@@ viz. 35,000 units & in mulitiples thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

115 December 2023 Fundamentals

 FUNDS AT A GLANCE
Scheme Name Nippon India ETF Hang Seng BeES Nippon India ETF S&P BSE Sensex Nippon India ETF Nifty IT Nippon India Nifty Pharma ETF
Next 50
Type of Scheme An open ended index Scheme, investing in overseas An Open Ended Index Exchange Traded Fund. An open ended scheme replicating/ tracking NIFTY IT An open ended scheme replicating/ tracking NIFTY
Securities listed on the Exchange in the form of an Index. Pharma Index.
Exchange Traded Fund (ETF) tracking the Hang Seng
Index.
Allotment Date March 09, 2010 July 30, 2019 June 26, 2020 July 02, 2021

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide
returns that, before expenses, closely correspond to investment returns closely corresponding to the total investment returns closely corresponding to the total investment returns closely corresponding to the total
the total returns of Securities as represented by returns of the securities as represented by the S&P returns of the securities as represented by the NIFTY returns of the securities as represented by the Nifty
Hang Seng Index of Hang Seng Data Services BSE SENSEX Next 50 Index before expenses, subject IT Index before expenses, subject to tracking errors. Pharma Index before expenses, subject to tracking
Limited, by investing in the Securities in the same to tracking errors. However, there can be no However, there can be no assurance or guarantee errors. However, there can be no assurance or
proportion as in the index. There can be no assurance or guarantee that the investment objective that the investment objective of the Scheme will be guarantee that the investment objective of the
assurance or guarantee that the investment objective of the Scheme will be achieved. achieved. Scheme will be achieved.
of the Scheme will be achieved.
Fund Manager Kinjal Desai@, Mehul Dama
Akshay Sharma@
Siddharth Deb
Benchmark Hang Seng TRI S&P BSE Sensex Next 50 TRI NIFTY IT TRI Nifty Pharma TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil Not Applicable

Investment Plans/ Options Growth Option Not Applicable

Minimum Application Amount Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit.
Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit
size@@ viz. 25,000 units & in mulitiples thereafter size@@ viz. 1,10,000 units & in mulitiples thereafter size@@ viz. 1,00,000 units & in mulitiples thereafter size@@ viz. 75,000 units & in mulitiples thereafter

Scheme Name Nippon India Nifty Auto ETF CPSE ETF Nippon India ETF Nifty 1D Rate Liquid Nippon India ETF Nifty 8-13 yr G-Sec
BeES Long Term Gilt
Type of Scheme An open ended scheme replicating/ tracking Nifty An Open-ended Index Exchange Traded Fund. An open ended liquid scheme, listed on the An Open Ended Index Exchange Traded Fund.
Auto Index. Exchange in the form of an ETF, investing in Tri-Party Relatively High interest rate risk and Relatively Low
Repo on G-Sec or T-bills /Repo & Reverse Repo with Credit Risk.
daily Dividend and compulsory Reinvestment of
Income Distribution cum capital withdrawal option.
Relatively Low Interest Rate Risk and Relatively Low
Credit Risk.
Allotment Date January 20, 2022 March 28, 2014 July 08, 2003 July 05, 2016

Investment Objective The investment objective of the scheme is to provide The investment objective of the Scheme is to provide The investment objective of Nippon India ETF Nifty The investment objective of the scheme is to provide
investment returns closely corresponding to the total returns that, before expenses, closely correspond to 1D Rate Liquid BeES is to seek to provide current investment returns closely corresponding to the total
returns of the securities as represented by the Nifty the total returns of the Securities as represented by income, commensurate with low risk while providing returns of the securities as represented by the Nifty
Auto Index before expenses, subject to tracking the Nifty CPSE Index, by investing in the Securities a high level of liquidity through a portfolio of Tri-Party 8-13 yr G-Sec Index before expenses, subject to
errors. However, there can be no assurance or which are constituents of the Nifty CPSE Index in the Repo/Repo & Reverse Repo. The Scheme will provide tracking errors. However, there can be no assurance
guarantee that the investment objective of the same proportion as in the Index.However the returns that before expenses, closely correspond to or guarantee that the investment objective of the
Scheme will be achieved. performance of the Scheme may differ from that of the returns of Nifty 1D Rate index.There can be no Scheme will be achieved.
underlying index due to tracking error. There can be assurance or guarantee that the investment objective
no assurance or guarantee that the investment of the Scheme will be achieved.
objective of the Scheme would be achieved.
Fund Manager Mehul Dama Siddharth Deb Pranay Sinha
Siddharth Deb
Benchmark Nifty Auto TRI Nifty CPSE TRI Nifty 1D Rate Index Nifty 8-13 yr G-Sec Index

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Not Applicable Nil Not Applicable

Investment Plans/ Options Not Applicable Growth Option IDCW Option - Daily IDCW Reinvestment Growth Option

Minimum Application Amount Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - One Unit.
Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit
size@@ viz. 25,000 units & in mulitiples thereafter size@@ viz. 100,000 units & in mulitiples thereafter size@@ viz. 2500 units & in multiple of 1 unit size@@ viz. 250000 units & in mulitiples thereafter
thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

Fundamentals December 2023 116

 FUNDS AT A GLANCE
Scheme Name Nippon India ETF Nifty CPSE Bond Nippon India ETF Nifty SDL Apr 2026 Nippon India ETF Nifty 5 yr Nippon India Silver ETF
Plus SDL Sep 2024 50:50 Top 20 Equal Weight Benchmark G-Sec
Type of Scheme An open-ended Target Maturity Exchange Traded An open-ended Target Maturity Exchange Traded An open ended scheme replicating/tracking Nifty 5 yr An open-ended scheme, listed on the Exchange in
CPSE Bond Plus SDL Fund predominately investing in SDL Fund predominately investing in constituents of Benchmark G-Sec Index. Relatively High interest rate the form of an Exchange Traded Fund (ETF) investing
constituents of Nifty CPSE Bond Plus SDL Sep 2024 Nifty SDL Apr 2026 Top 20 Equal Weight Index. risk and Relatively Low Credit Risk. in physical silver and / or Exchange Traded
50:50 Index. Moderate interest rate risk and Moderateinterest rate risk and Relatively Low Credit Commodity Derivatives (ETCD) in Silver.
Relatively Low Credit Risk. Risk.
Allotment Date November 13, 2020 March 25, 2021 April 05, 2021 February 02, 2022

Investment Objective The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to provide The investment objective of the scheme is to
investment returns closely corresponding to the total investment returns closely corresponding to the total investment returns closely corresponding to the total generate returns that are in line with the
returns of the securities as represented by the Nifty returns of the securities as represented by the Nifty returns of the securities as represented by the Nifty 5 performance of physical silver in domestic prices,
CPSE Bond Plus SDL Sep 2024 50:50 Index before SDL Apr 2026 Top 20 Equal Weight Index before Yr Benchmark G-Sec Index before expenses, subject before expenses, subject to tracking errors. However,
expenses, subject to tracking errors. However, there expenses, subject to tracking errors. However, there to tracking errors. However, there can be no there can be no assurance or guarantee that the
can be no assurance or guarantee that the can be no assurance or guarantee that the assurance or guarantee that the investment objective investment objective of the Scheme will be achieved.
investment objective of the Scheme will be achieved. investment objective of the Scheme will be achieved. of the Scheme will be achieved.
Fund Manager Vivek Sharma Vivek Sharma, Pranay Sinha, Vikram Dhawan
Siddharth Deb Siddharth Deb Siddharth Deb
Benchmark Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index Nifty SDL Apr 2026 Top 20 Equal Weight Index Nifty 5 Yr Benchmark G-Sec Index Domestic Price of Silver (based on LBMA Silver daily
spot fixing price)
Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Not Applicable

Investment Plans/ Options Not Applicable

Minimum Application Amount Through Stock Exchange - One Unit. Through Stock Exchange - One Unit. Through Stock Exchange - 1 Unit & in multiples Through Stock Exchange - One Unit.
Directly with the Mutual fund - In creation unit Directly with the Mutual fund - In creation unit thereof.Directly with the Mutual fund - in creation Directly with the Mutual fund In creation unit size@@
size@@ viz. 2,30,000 units & in mulitiples thereafter size@@ viz. 5,00,000 units & in mulitiples thereafter unit size@@ viz. 200,000 units & in mulitiples viz. 30000 units & in mulitiples thereafter
thereafter

Scheme Name Nippon India ETF Gold BeES Nippon India Gold Savings Fund Nippon India Nifty Next 50 Junior BeES Nippon India Passive Flexicap FoF
FoF
Type of Scheme An open ended scheme, listed on the Exchange in An open ended Fund of Fund Scheme. An Open Ended fund of funds scheme investing in An Open ended fund of funds scheme investing in
the form of an Exchange Traded Fund (ETF) investing Nippon India ETF Nifty Next 50 Junior BeES. units of Domestic Exchange Traded Funds (ETFs)/
in physical gold. Index Funds.
Allotment Date March 08, 2007 March 07, 2011 March 08, 2019 January 01, 2021

Investment Objective The investment objective of Nippon India ETF Gold The investment objective of the Scheme is to seek to The investment objective of the Scheme is to seek to The investment objective of the Scheme is to seek to
BeES is to provide returns that, before expenses, provide returns that closely correspond to returns provide returns that closely correspond to returns long term capital growth by investing in units of
closely correspond to the returns provided by provided by Nippon India ETF Gold BeES. provided by Nippon India ETF Nifty Next 50 Junior Domestic ETFs/Index Funds. However, there can be
Domestic price of Gold through physical gold. There BeES by investing in units of Nippon India ETF Nifty no assurance or guarantee that the investment
can be no assurance or guarantee that the Next 50 Junior BeES. However, there can be no objective of the Scheme will be achieved.
investment objective of the Scheme will be achieved. assurance or guarantee that the investment objective
of the Scheme will be achieved
Fund Manager Vikram Dhawan Mehul Dama Ashutosh Bhargava

Benchmark Domestic Price of Gold Nifty Next 50 TRI Nifty 500 TRI

Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load Nil 1% If redeemed or switched out on or before Nil
completion of 15 days from the date of allotment of
units.
Nil, thereafter
Investment Plans/ Options Growth Option Under both Direct and other than Direct plan The Scheme offers following Plans/Options under
Growth Plan - Growth Option Direct Plan and Regular Plan:
IDCW Plan - Payout & Reinvestment Option (a) Growth Plan
(1) Growth Option
(b) IDCW Plan
(1) Payout Option
(2) Reinvestment Option
Minimum Application Amount Through Stock Exchange - One Unit. Purchase: ₹ 100 & in multiples of ₹1 thereafter Purchase: ₹ 100 & in multiples of ₹ 1 thereafter Purchase: ₹500 and in multiples of ₹1 thereafter
Directly with the Mutual fund - In creation unit Additional Purchase: ₹100 & in multiples of ₹ 1 Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹100 & in the multiple of ₹1
size@@ viz. 1,15,000 units & in mulitiples thereafter thereafter. thereafter thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

117 December 2023 Fundamentals

 FUNDS AT A GLANCE
Scheme Name Nippon India Asset Allocator FoF Nippon India Silver ETF Fund of Fund Nippon India Retirement Fund - Nippon India Retirement Fund -
(FOF) Income Generation Scheme Wealth Creation Scheme
Type of Scheme An open ended fund of funds scheme investing in An Open Ended Fund of Fund scheme investing in An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age
equity oriented schemes, debt oriented schemes and units of Nippon India Silver ETF. (whichever is earlier).
gold ETF of Nippon India Mutual Fund.
Allotment Date February 08, 2021 February 02, 2022 February 11, 2015

Investment Objective The primary investment objective of the Scheme is to The investment objective of the Scheme is to seek to The investment objective of the scheme is to provide capital appreciation and consistent income to the
seek long term capital growth by investing in units of provide returns that closely correspond to returns investors which will be in line with their retirement goals by investing in a mix of securities comprising of
equity oriented schemes, debt oriented schemes and provided by Nippon India Silver ETF by investing in equity, equity related instruments and fixed income securities. However, there can be no assurance or
gold ETF of Nippon India Mutual Fund. However, units of Nippon India Silver ETF. However, there can guarantee that the investment objective of the Scheme will be achieved.
there can be no assurance or guarantee that the be no assurance or guarantee that the investment
investment objective of the Scheme will be achieved. objective of the Scheme willbe achieved.
Fund Manager Sushil Budhia Mehul Dama Pranay Sinha
Ashutosh Bhargava Sanjay Doshi#
Benchmark CRISIL Hybrid 50+50 - Moderate Index Domestic Price of Silver (based on LBMA Silver daily CRISIL Hybrid 85+15 - Conservative Index S&P BSE 500 TRI
spot fixing price)
Entry Load Not Applicable. The upfront commission on investment made by the investor, if any, shall be paid to the ARN Holder directly by the investor, based on the investor’s assessment of various factors including service
rendered by the ARN Holder.
Exit Load 10% of the units allotted shall be redeemed without 1% - If redeemed or switched out on or before Nil
any exit load, on or before completion of 12 months completion of 15 days from the date of allotment of
from the date of allotment of units. Any redemption units.
in excess of such limit in the first 12 months from Nil - If redeemed or switched out after completion of
the date of allotment shall be subject to the following 15 days from the date of allotment of units.
exit load.
Redemption of units would be done on First in First
out Basis (FIFO):
• 1% if redeemed or switched out on or before
completion of 12 months from the date of allotment
of units.
• Nil, thereafter.
Investment Plans/ Options The Scheme offers following Plans/Options under Direct Plan and Regular Plan: Under both Direct and other than Direct plan
(a) Growth Plan Growth Plan - Growth Option
(1) Growth Option IDCW Plan - Payout Option
(b) IDCW Plan
(1) Payout Option
(2) Reinvestment Option
Minimum Application Amount Purchase: ₹5000 and in multiples of ₹1 thereafter Purchase: ₹ 100 & in multiples of ₹ 1 thereafter Purchase: ₹500 and in multiples of ₹500 thereafter
Additional Purchase: ₹1000 & in the multiple of ₹1 Additional Purchase: ₹100 & in multiples of ₹1 Additional Purchase: ₹500 & in the multiple of ₹500 thereafter
thereafter thereafter

# Kinjal Desai and Akshay Sharma : Dedicated Fund Manager for Overseas Investments. @ Kinjal Desai and Akshay Sharma - For foreign securities, Siddharth Deb - For debt securities.
Please refer page no. 119 for explanation on various symbols mentioned on the page

Fundamentals December 2023 118

 DISCLAIMERS, STATUTORY DETAILS & RISK FACTORS
Exit Load – If charged, the same shall be credited to the scheme immediately net of Goods & Service Tax, if any.
Exit load levied on the Units redeemed will be the rate prevailing at the time of the allotment of the Units. For Special products registrations, load for each transaction is based on the load structure
applicable as on the registration date.
^Total Expense Ratio - As on last day of the month & includes additional expenses provided in Regulation 52(6A)(b) and 52(6A)(c) of SEBI (Mutual Funds) Regulations, 1996 and Goods and Service
Tax on Management Fees.
@Tracking Error – 1 year Annualised Tracking Error based on daily returns. For the schemes which are yet to complete 1 year, Annualised Tracking Error is based on the data available.
@@ Creation Unit Size - W.e.f May 1, 2023, the execution value for large investors must be greater than Rs.25 crores (except for Schemes managed by Employee Provident Fund Organisation (EPFO),
India and Recognized Provident Funds, Approved Gratuity Funds and Approved Superannuation Funds under Income Tax Act, 1961)
Withholding Tax on distributed income by Mutual Fund Scheme: The Finance Act, 2020 has abolished dividend distribution tax on Income distribution by Mutual Fund scheme. W.e.f. 01.04.2020
any income distribution by Mutual fund scheme is taxable in the hands of investor and mutual fund scheme is required to withhold tax on such income distribution as per applicable tax rate.
Applicability of Stamp Duty on Mutual Fund Transactions: Stamp duty @ 0.005% of the transaction value would be levied on applicable mutual fund transactions, with effect from July 01, 2020.
Accordingly, pursuant to levy of stamp duty, the number of units allotted on purchase/switch-in transactions (including IDCW reinvestment) to the unitholders would be reduced to that extent. Kindly
refer notice cum addendum no. 30, dated June 30, 2020.
Kindly refer addendum no. 63 dated September 28, 2012 for details about discontinued plan. Direct plan got introduced w.e.f. 01/01/2013. Kindly refer addendum no. 95 dated December 31, 2012
for details about direct plan.
Kindly refer addendum no. 66 dated June 11, 2015 for details about discontinued bonus plan/option.
As per AMFI Best Practices Guidelines Circular No. AMFI/ 35P/ MEM-COR/ 72 / 2022-23 dated December 31, 2022 on Standard format for disclosure Portfolio YTM for Debt Schemes, Yield of the
instrument is disclosed on annualized basis as provided by Valuation agencies.
Scheme Related Disclosures
For revision in Risk-o-meters for few of the schemes of Nippon India Mutual Funds, kindly refer notice cum addendum no. 57 dated Dec 5, 2023.
For Change of Fund Managers of few funds (Nippon India Flexi cap fund) kindly refer to notice cum addendum no. 54 dated Nov 22, 2023.
For Change in scheme names (Nippon India Tax Saver (ELSS) Fund” shall stand revised as “Nippon India ELSS Tax Saver Fund ), w.e.f.. Nov 20, 2023, kindly refer notice cum addendum no. 53.

For revision in Risk-o-meters for few of the schemes of Nippon India Mutual Funds, kindly refer notice cum addendum no 49, dated Nov 7, 2023.
For revision in Risk-o-meters for few of the schemes of Nippon India Mutual Funds, kindly refer notice cum addendum no 38, dated Oct 4, 2023.
...................................................................................................................................................................................................................................................................................................
For Discontinuation of ‘ACCEPTANCE OF “CASH’’ AS A MODE OF SUBSCRIPTION’ facility in all eligible schemes of Nippon India Mutual Fund ("NIMF") wef. Feb 06, 2023, kindly refer notice cum
addendum no 78 dated Feb 03, 2023
For Discontinuation of ‘Nippon India Any Time Money Card’ in all eligible schemes of NIMF wef. Jul 04, 2022, kindly refer notice cum addendum no 26, dated Jun 27, 2022.
For Discontinuation of ‘Nippon India SIP Insure’ in designated schemes of NIMF wef. Jun 23, 2022, kindly refer notice cum addendum no 24, dated Jun 21, 2022.
In schemes with investments in floating rate bonds, valuation of FRB issued by Government of India is as per CCIL and all other floating rate bonds are based on valuation provided by AMFI approved
valuation agencies.
Pursuant to notice cum addendum no 81 dated October 30, 2021, for investments made by designated employees in terms of SEBI circular dated April 28, 2021, and September 20, 2021, requirement
for minimum application/ redemption amount will not be applicable.
For Inclusion of provision related to Premature redemption in case of transmission and modification in sections related to Lock-in period & maximum entry age for subscription in Nippon India Retirement
Fund, kindly refer notice cum addendum no.83, dated Nov 09, 2020.
With a view to bring uniformity in returns of the schemes and their respective benchmarks from currency perspective, the returns of S&P 500, S&P Japan 500 TRI and Taiwan Capitalization Weighted
Stock Index (TAIEX) (along with respective underlying schemes i.e. Nippon India US Equity Opportunities Fund, Nippon India Japan Equity Fund and Nippon India Taiwan Equity Fund are published in
INR terms.
*Reliance Focused Large Cap Fund was merged into Reliance Mid & Small Cap Fund and the merged scheme was renamed as Nippon India Focused Equity Fund (formerly Reliance Focused Equity
Fund) (‘Scheme’) with effect from April 28, 2018. In line with SEBI circular SEBI/HO/IMD/DF3/CIR/P/2018/69 dated April 12, 2018, since the Scheme did not retain the features of either the transferor
or transferee scheme, the performance has been provided herein since the effective date i.e. April 28, 2018.
The investors of Fund of Funds (FOF) will be bearing the recurring expenses of the scheme, in addition to the expenses of underlying scheme.

Disclaimer: The Fact sheet “Fundamentals” is meant for general reading purpose only and is not meant to serve as a professional guide for the readers. This document has
been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. The Sponsor, the Investment Manager, the Trustee or any of their
respective directors, employees, associates or representatives (“entities & their associates”) do not assume any responsibility for, or warrant the authenticity, accuracy, completeness, adequacy and
reliability of such information. Whilst no action has been solicited based upon the information provided herein; due care has been taken to ensure that the facts are accurate and opinions given are fair
and reasonable. This information is not intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Recipients of this information are advised to rely on their
own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice order to arrive at an informed investment decision. Entities & their associates shall not
be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including loss of profits, arising in any way from the information contained in this material. Entities &
their associates including persons involved in the preparation or issuance of this material may from time to time have long or short positions in and buy or sell the securities there of, of company(ies)/
specific economic sectors mentioned herein. NAV of the plan/option of certain schemes are not provided for certain cases as the NAV was not computed because there were no investors as on the
date on which the NAV details are provided.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Fundamentals December 2023 119

 How To Read Factsheet
Alpha: Alpha is the measurement of an investment portfolio’s performance against a certain benchmark –usually a stock market index.
Application Amount for Fresh Subscription: This is the minimum investment amount for a new investor in a mutual fund scheme.
AUM: AUM or Assets Under Management refers to the recent/ updated cumulative market value of investments managed by a mutual fund or any investment firm.
Average portfolio price to book ratio (Average P/BV): It is price to book value of the stocks calculated for the entire portfolio on a weighted average basis.
Average portfolio PE (Average P/E): P/E is the price to earnings ratio of the fund. A high PE ratio means investors are willing to pay more for each unit of earnings of the particular stock and
are expecting higher growth in the future. Average P/E is calculated using weighted average method.
Average portfolio dividend yield (Average Dividend Yield): Dividend yield is the dividend paid per unit divided by the market price of the share. Average dividend yield is calculated using
weighted average method.
Benchmark: A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds. Some typical
benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec.
Beta Ratio (Portfolio Beta): Beta is a measure of an investment’s volatility vis-a-vis the market. In case of beta, value 1 suggests that a specific fund responds to market volatility equivalently,
i.e. the shift in its price is equivalent to the benchmark movements. A value above 1 represents that a specific fund demonstrates a more significant shift in its price compared to benchmark
movement. A value below 1 represents the opposite.
CAGR: stands for Compound Annual Growth Rate. Essentially, CAGR is the measure of an asset or investment’s annual growth rate over a set period of time, while assuming compound growth.
Entry Load: Not Applicable In accordance with the requirements specified by the SEBI circular no. SEBI/IMD/CIR No.4/168230/09 dated June 30, 2009 no entry load will be charged for
purchase / additional purchase / switch-in accepted by NIMF with effect from August 01, 2009. Similarly, no entry load will be charged with respect to applications for registrations under
Systematic Investment Plans / Systematic Transfer Plans accepted by NIMF with effect from August 01, 2009. With reference to SEBI circular No. SEBI/HO/IMD/DF2/CIR/P/2019/42 dated March
25, 2019, there shall be no entry load for investments under SIPs registered before August 01, 2009 with effect from April 15, 2019. The upfront commission on investment made by the investor,
if any, will be paid to the ARN Holder (AMFI registered Distributor) directly by the investor, based on the investor’s assessment of various factors including service rendered by the ARN Holder.
Exit Load: Exit load is a charge which is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption (or exit).
For instance, if the NAV is Rs. 100 and the exit load is 1 %, the redemption price would be Rs.99 per unit.
Holdings: The holdings or the portfolio is a mutual fund’s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the
rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.
IDCW: Income Distribution cum capital withdrawal Options/Plans refers to distribution of income in a mutual fund scheme, which may include dividends paid by stocks, and capital gains made
by selling underlying stocks in the portfolio.
Inflation: Inflation is a rise in price levels of goods/services that are required for day-to-day use. It primarily indicates the fall in the purchasing capacity of the rupee.
Minimum Additional Amount: This is the minimum investment amount for an existing investor in a mutual fund scheme.
Modified duration: This is a formula that expresses the measurable change in the value of a security in response to a change in interest rates. Modified duration follows the concept that
interest rates and bond prices move in opposite directions.
Nature of Scheme: The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital
appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund.
Each of these categories may have subcategories.
NAV: The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business
day. It is the value at which the investor enters or exits the mutual fund.
NAV = (Assets - Liabilities) / Total number of outstanding shares.
Net Equity: Net equity level is the net equity exposure percentage adjusted for any derivative positions in stocks or index for hedging or rebalancing purpose.
Portfolio Turnover Ratio: The portfolio turnover ratio is the rate of which assets in a fund are bought and sold by the portfolio managers. In other words, the portfolio turnover ratio refers to
the percentage change of the assets in a fund over a one-year period.
R Squared (R2): It is a statistical measure of how closely the portfolio returns are correlated with its benchmark. So, if the R2 of a model is 0.50, then approximately half of the observed
variation can be explained by the model’s inputs.
Rating Profile: Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings
becomes the rating profile of the fund. Typically, this is a feature of debt funds.
Riskometer: Riskometer is a graphical representation of the risk a mutual fund carries. The graph is designed as per the Association of Mutual Funds in India (AMFI) guidelines. It displays
5-levels of risk, with low representing the lowest risk on the diagram and very high the highest.
Rolling Returns: Rolling returns are the annualized returns of the scheme taken for a specified period (rolling returns period) on every day/week/month and taken till the last day of the duration.
Sharpe Ratio: The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to
determine reward per unit of risk. The greater a portfolio’s Sharpe ratio, the better its risk-adjusted performance. A negative Sharpe ratio means the risk-free or benchmark rate is greater than
the portfolio’s historical or projected return, or else the portfolio’s return is expected to be negative.
SIP: SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for
an SIP that invests Rs. 500 every 15th of the month in an equity fund for a period of three years, then over the three years he would invest Rs.18000.
Standard Deviation: Standard deviation is a statistical measure of the range of an investment’s performance. When a mutual fund has a high standard deviation, its means its range of
performance is wide, implying greater volatility.
Volatility: Volatility is a statistical measure of the dispersion of returns for a given security or market index. In most cases, the higher the volatility, the riskier the security.
Yield to Maturity: The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond’s current
market price, par value, coupon interest rate and time to maturity.