MONTHLY

FACTSHEET
MAY 2025

Spotting
Potential Champions
Across Market Caps
Minimum 25% allocation each in
Large, Mid & Small Caps

LAUNCHING
TRUSTMF
Multi Cap Fund
(An open-ended equity scheme investing in
large cap, mid cap and small cap stocks)

NFO Period: 30th June 2025 - 14th July 2025 Scan to Know More

Riskometer and Product Suitability Label

This Product is suitable for investors who are seeking*: Scheme Riskometer Benchmark Riskometer
NIFTY 500 Multi Cap 50:25:25 TRI
Moderately Moderately
• Long term capital appreciation. Moderate High Moderate High

• Investment predominantly in equity & equity related Low to

Moderate High
Low to
Moderate High
instruments across large cap, mid cap and small cap stocks
Low Very Low Very
* Investors should consult their financial advisors if in doubt High High

about whether the product is suitable for them.

The risk of the scheme is Very High The risk of the benchmark is Very High

The above product labelling assigned during the New Fund Offer (NFO) is based on internal assessment of the scheme
characteristics or model portfolio and the same may vary post NFO when the actual investments are made.
PhotoMutual
Courtes y: Nipa
Fund Paka are subject to market risks, read all scheme related documents carefully.
investments

101, 1st Floor, Naman Corporate Link, +91 22 6274 6000 [email protected]
G-Block, Bandra Kurla Complex, 1800 267 7878 Website: www.trustmf.com
Bandra (East), Mumbai 400 051
Index

P. No Schemes

How to read a Factsheet

Market Outlook

Equity - Oriented Schemes

01 TRUSTMF Flexi Cap Fund

02 TRUSTMF Small Cap Fund

Debt Schemes

03 TRUSTMF Banking & PSU Fund

04 TRUSTMF Corporate Bond Fund

05 TRUSTMF Short Duration Fund

06 TRUSTMF Money Market Fund

07 TRUSTMF Liquid Fund

08 TRUSTMF Overnight Fund

09 Income Distribution cum Capital Withdrawal (IDCW)

10 Performance Details

12 Product Suitability Label & Potential Risk Class Matrix (PRC)

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

Here are a few important terms that you need to know while reading a factsheet.

Fund Manager: An employee of the asset management company of a mutual fund, who manages investments of the scheme. He is a part of Investment Team.

Application Amount for Fresh Subscription: This is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum Additional Amount: This is the minimum investment amount for an existing investor in a mutual fund scheme.

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.

SIP: SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum in the scheme of Mutual Fund. For instance, an
investor may opt for an SIP that invests Rs 500 every 15th of the month in any mutual fund scheme.

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.

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, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year G-sec. etc.

Entry Load: A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent in compliance with the guidelines
specified by SEBI.

Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor
directly to the distributor, based on his assessment of various factors including the service rendered by the distributor.

Exit Load: Exit load 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. For instance, if the NAV is 100 and the exit load is 1%, the redemption price would be 99 Per Unit.

Modified Duration: Modified duration is the price sensitivity and the percentage change in price for a unit change in yield

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,
it means its range of performance is wide, implying greater volatility.

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.

Beta: Beta is a measure of an investment’s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta
of greater than 1 implies that the security’s price will be more volatile than the market.

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.

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.
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 sub-categories.

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.

Potential Risk Class (PRC) Matrix: Potential Risk Class (PRC) Matrix denotes the maximum Credit Risk and Interest Rate Risk that the Scheme can take.

Total Expense Ratio (TER) - The Total Expense Ratio (TER), denoted as a percentage, is the overall cost of managing a fund, charged to an investor. This may
include management fees, administrative expenses, operating costs, and other miscellaneous fees. The TER is calculated by dividing the total annual cost by
the fund’s total assets averaged over that year.

Large cap - 1st -100th company in terms of full market capitalization.

Mid Cap - 101st -250th company in terms of full market capitalization.

Small Cap - 251st company onwards in terms of full market capitalization.

General Disclaimer: As per AMFI Best Practice Guidelines , disclosures such as Yield to Maturity (YTM) and Yield to Call (YTC) is provided in line with the
stipulated guidelines. This should not be construed as indicative returns that may be generated by the fund and the securities bought by the Fund may or may
not be held till the respective maturities. The information herein above is meant only for general reading purposes to provide a broad understanding about
the scheme framework the actual position may vary. For preparation of this material, Trust Asset Management Private Limited has used information that is
publicly available and information developed in-house. The AMC does not warrant the accuracy, reasonableness and / or completeness of any information. The
AMC, Trustee Company, it sponsors and affiliates shall not be liable for any direct, indirect or consequential loss. The words and expression contained in this
material shall mean forward looking but the actual result may differ. Investors are advised to consult their own investment/financial/tax advisor before making
any investment decision in light of their risk appetite, investment goals and horizon. Past performance may or may not be sustained in the future. Please refer
to the scheme related documents before investing for details of the scheme including investment objective, asset allocation pattern,investment strategy, risk
factors and taxation.etc.

TRUST Asset Management Private Limited

101, 1st Floor, Naman Corporate Link, Bandra Kurla Complex, Bandra (East), Mumbai 400 051. Phone: +91 22 6274 6000
CIN: U65929MH2017PTC302677 Website: www.trustmf.com

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

Global Developments

The month of May saw huge volatility in Interest Rates, especially in the longer end of sovereign yield curves of
developed economies. The headlines during the month of may in the United States was on Tariffs and interest
rates.
On Tariffs, the flip- flops from US continued throughout the month of May. The US and China decided to bring
down the reciprocal tariffs which they impinged on each other to pre 2nd April rates. There is a window of
90 days where both countries will work on trade negotiations. UK became the first nation to sign a bilateral
agreement with the US. Toward the end of May, Trump doubled tariffs on imported steel and aluminum from
25% to 50%.
On the fiscal front, the sovereign ratings of US got downgraded by Moody’s, from AAA to AA1. The renewed
concerns on absolute level and incremental levels of US deficits flared up. The tax bill that would extend the
Trump tax cuts from his first term, passed the House of Representatives by a tight margin. It still needs to be
approved by the Senate, and both chambers of Congress.
Long-end bond yields moved higher in the Developed economies, with the 30yr yields in the US moving as high
as 5.15% while 40year government bond yields in Japan moved as high as 3.61%

US 30 yr yield 4.9655 4.9655

Germany 30 yr yield 3.0178
Japan 40 yr yield 3.0840 4.0000

3.0840
3.0178

2.0000

1.0000

0.0000

-1.0000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Bloomberg and Data as on 31st May 2025

During May 2025, the U.S. 10-year Treasury yields traded in the range of 4.40% to 4.60%. 1st quarter US GDP
growth came in at -0.2% while inflation expectations continue to be high. The Federal Reserve (Fed) in its meeting
in May decided on a wait and watch strategy and kept interest rates at 4.25%-4.50%. The Fed chairman Powell
in his speeches indicated the challenges and uncertainties the US economy posted with the implementation of
tariffs on both growth and inflation.
Domestic economy
The Indian economy posted a robust 4th quarter GDP growth of 7.4%yoy. Private final consumption expenditure
(PFCE) grew at a slower pace of 6.0% YoY in Q4, compared with 8.1% YoY in Q3 and 7.3% Investment demand
measured by Gross Fixed Capital Formation (GFCF), increased at 9.4% YoY vs 5.2% in Q3 boosted by government
infrastructure spending in Q4. The GDP growth for FY25 now stands at 6.5% yoy. FY26 GDP growth is expected
to be in the range of 6.3 to 6.7%. The recent monetary policy easing by the Reserve bank of India (RBI) may
be growth supportive. The government actions on income-tax rationalization and continued thrust on capital
expenditure may also be helpful for the growth.
CPI inflation softened further to 3.16% yoy in April-25 vs 3.37% YoY in March, led by further fall in food prices.
While core inflation saw a pick-up at 4% YoY (3.8% in March) led by an increase in gold prices. Core inflation
has remained at or below 4% for the entire FY25 giving comfort on the headline inflation front. We expect CPI
inflation to track below RBI’s target of 4% for the first two quarters of FY26. A favorable base effect will also
help.
Trade deficit for the month of April was USD 26 bln vs USD 21.5 bln in the month of March. Net Services exports
for the month of April was USD 15.9bln vs USD 18.1bln in the month of March.

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

Monetary Policy
The Monetary Policy Committee (MPC) decided to reduce the repo rate by 50bps from 6.00% to 5.50%. 5 of
the 6 members of the MPC voted for a 50-bps rate cut. 1 member voted for a 25bps rate cut. The stance of
the policy is also changed back from ‘Accommodative’ to ‘neutral’.
FY 2026 growth is projected at 6.5%, unchanged from its previous forecast on the back of boost from private
consumption and traction in fixed capital formation, sustained rural demand, services sector support to urban
recovery and improvement in Investment recovery led by both government and Private sector
CPI inflation for FY26 is projected at 3.7%, 30 bps lower than their previous forecast of 4.0% on the back
of record wheat production and higher pulses production, good kharif crop prospects, moderation in key
commodities including oil and low and stable core inflation
The MPC rationale noted that the near-term and medium-term outlook gives them confidence of durable
alignment of headline inflation with the target of 4 per cent. The MPC believes that during the year, CPI will
undershoot the target. The 50 bps rate cut is an effort to continue stimulating domestic private consumption
and investment through policy support by front loading rate cuts.
Liquidity
RBI’s focus since February-25 has been to bring the banking system liquidity first from ‘deficit’ to ‘neutral’.
In the month of April-25 and May-25, the RBI continued to inject durable liquidity in the system bringing the
banking system liquidity from ’neutral’ to ‘surplus’. RBI’s focus is on faster transmission of interest rate cuts
in the banking system.
• RBI has conducted further Open Market Operations (OMO) purchases of 1,20,000cr and 1,25,000cr in the
month of April and May
• RBI has declared and transferred Rs. 2,70,000 cr dividend to the Government further giving an impetus
to durable liquidity. The dividend declared is higher than budget estimates and this has been done by
increasing contingent risk buffer and Realized Equity (RE) from 6.5% to 7.5%- leading to a healthier RBI
balance sheet.
• RBI in the June policy lowered the Cash reserve ratio (CRR) for banks by 100 bps from 4% to 3%. This will
get implemented in September, October and November
The banking system liquidity in June 2025 will continue to be in surplus. RBI’s foreign exchange reserves have
also increased from a low of USD 625 bln in January to USD 692 bln as on 23rd may.
Fixed Income Markets
The yields on 10-year Indian Government bonds (IGB) in the month of May have traded in the range of 6.20%
to 6.40%. OMO purchase by RBI in the month of May along with lower inflation print for the month of April
and expected bumper RBI dividend to the government ensured that 10yr IGB traded at the lower end of the
6.20%-6.40% range.
There was volatility in interest rates during the short period when India carried out terror related strikes in
Pakistan but once that event was behind us, the interest rates markets along with the currency markets
stabilized.
Tracking the IGBs, yields on AAA bonds have also moved lower. Yields on AAA bond in the 1-5 year segment
have moved lower as markets are more comfortable with the surplus liquidity in the system along with further
interest rate cuts.
The government Securities yield curve and the corporate bond yield curve has steepened in the month of May.
Yields on upto 5 year IGBs have moved lower by 15-30 bps while yields on 10 year and above securities have
traded in a narrow range. Yields on upto 5 year AAA PSU bonds have also moved lower in line with IGBs while
10 year AAA bonds have also traded in a narrow range. Post RBI policy on 6th June, the curves have further
steepened.
The yields on extreme shorter end of the curve (3months to 1-year CDs/CPs) have also come down in

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

expectation of rate cuts and surplus liquidity. Yields on 3month CDs and CPs have come down by 40bps from
6.50% to 6.10% while yields on 6months to 1 year CDs and CPs have come down by 20bps. After the higher

6.95 6.90

Post Policy
6.75 Pre Policy
6.82

6.55

6.35

6.15

5.95

5.75

5.55
2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 12Y 13Y 15Y 20Y 30Y
Bloomberg and Data as on 31 May 2025
st

than expected 50 bps repo rate cut, yields on 3months to 1 year have further come down by 25 bps.
Fixed Income Outlook
The global uncertainties with respect to trade wars, higher fiscal deficits along with higher debt to GDP in
developed economies, higher expected inflation and escalating Russia – Ukraine and middle east war remains
an ongoing challenge. Amidst the global uncertainties, the Indian economy has recovered sharply in the second
half of FY25. The tax reduction in the budget along with the Repo rate cuts is likely to provide impetus to urban
demand. Inflation is moderating and the recent readings are below RBI’s target of 4%.
Having cut rates by 50 bps in this policy, and cumulatively 100 bps in last 3 policy meetings, the governor stated
that the scope for further monetary accommodation is limited. We now expect MPC to stay put on policy rates
for the next 2 quarters. The MPC will keep evaluating the incoming growth and inflation data for further actions.
We expect yields on IGBs and corporate bonds to move in a range. We expect 10-year IGB yield to trade in the
range of 6.15% to 6.40%.
The tight liquidity situation has been addressed, and focus has shifted to quicker interest rate transmission
through additional liquidity measures. On liquidity we think that the series of measures from RBI over the last
4 months has brought it into surplus. The RBI has ensured that there is higher durable and banking system
liquidity leading to faster transmission of policy rates on lending and deposit rates. This will lead to overnight
rates trading closer to SDF rates (ie at 5.25%).
Investor portfolios should focus on accrual assets as per their risk-profile. High credit rated portfolios i.e.
Corporate Bond Funds and Short-Duration Bond Funds can provide attractive accrual income. The corporate
bond spreads are still attractive and can provide investors an opportunity to earn a higher accrual income.
Investors looking for stable returns through high quality portfolio over 1-3 years can look to invest in the Banking
and PSU category.
The money market curve from 3-months to 1-year offer yields of 5.75%-6.25%. Investors with shorter investment
horizon should look at investing in liquid and money market funds to capture these yields.
Equity Market
Stability Returns – India Builds Momentum in a Cautious Global Landscape
May 2025 witnessed a continuation of the Indian market’s gradual climb higher, with the Nifty 50 gaining
1.7%, supported by an improving macro backdrop, strong domestic flows, and resilience across key economic
indicators. While global markets remained jittery amid uncertainty around US tariffs, monetary policy divergence,
and signs of economic slowdown in developed economies, India stood out for its relative stability, robust
capital flows, and low inflation environment.

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

What stood out this month was the quiet strength of Indian equities—even in the face of geopolitical noise and
trade disruptions. Since the turbulence began in September 2024, Indian markets have successfully absorbed
a barrage of shocks—rich small- and mid-cap valuations, terrorist events, tariff wars—yet continue to trade
just 5% below all-time highs. Volatility remained contained, and despite headline risks, valuations across
sectors have corrected substantially, providing a better foundation for long-term investors.
From a sectoral lens, the rally was led by Industrials, Financials, Discretionary, IT, and Metals, while Healthcare,
Materials, and Utilities were laggards. Within Industrials, Indian defence industry stocks did extremely well
after the world saw the demonstration of Indian defence technology
Global equity markets saw a stronger month. The FTSE World Index rose 5.7% MoM, while emerging markets
were up 3.7%. Among developed markets, Germany (+6.7%) and the US (+6.2%) led gains, supported by
expectations of a pause in rate hikes and stronger-than-expected earnings. In Asia, Indonesia (+6.0%) and
Taiwan (+5.5%) were the top EM performers, while Thailand (-4.0%) and Malaysia (-2.1%) underperformed.
China’s recovery remained tepid with a 1.8% gain for the month.
Macro conditions in India continued to firm up. GDP for Q4FY25 surprised positively at 7.4%, driven by a steady
expansion in private consumption and capex momentum. CPI inflation eased to 3.2%, staying well below the
RBI’s upper tolerance. The trade deficit widened marginally due to higher imports, but the rupee appreciated,
and forex reserves climbed to $693 billion. Liquidity conditions turned surplus, and the Manufacturing PMI
remained robust at 57.6, signaling sustained momentum.
Flows were supportive: May saw the highest monthly FPI inflows in eight months at ₹197 billion, while DIIs
continued their net buying streak for the 22nd month with inflows of ₹676 billion. Retail participation remained
strong, reinforcing the structural nature of domestic equity flows. While foreign investor positioning remains
at multi-year lows, sentiment appears to be turning incrementally positive.
The market has re-rated sharply over the past year, but with forward earnings growth of 12-15%, supported
by private capex, corporate deleveraging, and strong domestic demand, there’s fundamental backing to this
optimism. The recent terrorist event and India’s swift, decisive response led to a surge in domestic confidence.
Strategically, India’s firm stance against future attacks and its demonstrated military precision added to the
country’s geopolitical credibility.
RBI provided an exta boost to growth sentiments with a sharp rate cut and CRR cut, clearly indicating a pro-
growth stance as inflation is under control. Movement on GST stimulus, and trade negotiations with the US
are monitorables. Globally, the trajectory of US monetary policy, China’s deflation impulse, and geopolitical
alignments (especially in West Asia) remain key watchpoints.
In conclusion, May was yet another month where Indian equities quietly consolidated their strength. Macro
fundamentals, policy clarity, and broadening sectoral participation provide a solid backdrop. While global
risks remain, India’s resilience and reform-driven growth make it a compelling structural story. Volatility may
continue, but investors with a disciplined asset allocation and long-term perspective should stay invested.
While the recent gut-wrenching volatility is not something that anyone wants, we should remember that
opportunities of a lifetime are created in such times. Investing and stock markets are always forward looking.
India’s positioning as a domestically driven, relatively insulated economy could help it navigate the volatility,
but valuation discipline and selective exposure remain crucial. We recommend that investors should keep the
investment strategy intact and not make any changes to pre-defined asset allocation plans.

Source: Bloomberg, RBI, NSE, AMFI, NSDL, Jefferies, CEIC data; as on 30th May, 2025
~Disclaimer : 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 and must not be construed as an investment advice. This information is meant for general reading purposes only and is
not meant to serve as a professional guide for the readers, the statements contained herein are based on our current views; the words and expression
contained in this material shall mean forward looking but the actual results, performance or events could differ materially from those expressed or
implied in such statements. 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. Entities &
their affiliates 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.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
TRUSTMF Flexi Cap Fund
An open-ended dynamic equity scheme investing across large cap, mid cap, small
cap stocks.

Fund Highlights Investment Objective

• Market cap/ sector/ style agnostic fund To provide long-term growth in capital and income to investors, through active
• Fund following “Terminal Value Investing+” and “Growth at Reasonable Valuations management of investments in a diversified portfolio of equity and equity-related
(GARV) # ” approaches securities across the entire market capitalization spectrum and in debt and money
• Seeks to benefit from the potential of high-growth sectors and stocks in market instruments. There is no assurance or guarantee that the investment objective
• Focused portfolio of 59 high-conviction stocks of the Scheme will be achieved.
• Aims to capture the full value creation over the short-term and the long-term

Portfolio as on May 31, 2025

Scheme Features Company/Issuer Industry
% To Net
Company/Issuer Industry
% To Net
Assets Assets
Equity 95.69 Industrial
Date of Allotment Kaynes Technology India Limited
Manufacturing
1.28
26th April 2024 HDFC Bank Limited^ Banks 7.30 Shriram Finance Limited Finance 1.26
ICICI Bank Limited^ Banks 6.97 Industrial
Jyoti CNC Automation Limited 1.20
Manufacturing
Petroleum Chemicals &
Fund Manager (Managing Since) Reliance Industries Limited^
Products
3.38 SRF Limited 1.18
Petrochemicals
Mihir Vora (since inception) Bharti Airtel Limited^ Telecom - Services 3.22 Dixon Technologies (India) Consumer
1.16
Total Experience - 29 years Infosys Limited^ IT - Software 2.80
Limited
Mazagon Dock Shipbuilders
Durables
Industrial
Aakash Manghani (since inception) 1.12
Aerospace & Limited Manufacturing
Bharat Electronics Limited^ 2.50
Total Experience - 14 years Defense Angel One Limited Capital Markets 1.05
Bajaj Finance Limited^ Finance 2.36 Consumer
PG Electroplast Limited 1.05
Durables
Fund Size Axis Bank Limited^ Banks 2.26
Pearl Global Industries Limited Textiles & Apparels 1.04
Month end AUM: 1,112.44 Cr Coforge Limited^ IT - Software 2.21 Fertilizers &
Monthly Average AUM: 1,067.31 Cr Coromandel International Limited
Agrochemicals
1.03
Larsen & Toubro Limited^ Construction 2.12
CG Power and Industrial Solutions Electrical
1.03
Mahindra & Mahindra Limited Automobiles 2.10 Limited Equipment
Load Structure Aerospace & Trent Limited Retailing 1.01
Entry Load: Nil Bharat Dynamics Limited 2.04
Defense Aerospace &
Data Patterns (India) Limited 0.97
Exit Load: 1% - If redeemed/ BSE Limited Capital Markets 1.96 Defense
Cholamandalam Investment and
switched out within 180 days from Hindustan Petroleum Corporation Petroleum
1.88 Finance Company Limited
Finance 0.97
Limited Products
the date of allotment. Max Healthcare Institute Limited
Healthcare
0.94
State Bank of India Banks 1.80 Services
Nil if redeemed/switched out after Pharmaceuticals &
Multi Commodity Exchange of Wockhardt Limited 0.89
180 days from the date of allotment India Limited
Capital Markets 1.77 Biotechnology
Aerospace & HCL Technologies Limited IT - Software 0.87
Hindustan Aeronautics Limited 1.76
Defense Electrical
Benchmark Chemicals & Hitachi Energy India Limited
Equipment
0.75
Solar Industries India Limited 1.75
NIFTY 500 TRI Petrochemicals Central Depository Services
Capital Markets 0.72
Electrical
Suzlon Energy Limited 1.67 (India) Limited
Equipment
Minimum Additional Purchase Pharmaceuticals & PNB Housing Finance Limited Finance 0.69
Divi's Laboratories Limited 1.65
Biotechnology Electrical
Amount: Minimum of ₹ 1,000/- and in ABB India Limited
Equipment
0.66
Vishal Mega Mart Limited Retailing 1.65
multiples of any amount thereafter. Prudent Corporate Advisory NCC Limited Construction 0.66
Capital Markets 1.65
Services Limited Garuda Construction and
Minimum Redemption / Switch-out Engineering Limited
Construction 0.62
Persistent Systems Limited IT - Software 1.65
Amount: There will be no minimum Cement & Cement
Shaily Engineering Plastics
Industrial Products 0.58
redemption criterion. JK Cement Limited 1.62 Limited
Products Agricultural Food &
Pharmaceuticals & Sanstar Limited 0.53
Ami Organics Limited 1.58 other Products
NAV as on 30th May 2025 Motilal Oswal Financial Services
Biotechnology
K.P.R. Mill Limited Textiles & Apparels 0.44
Capital Markets 1.51
Limited Inventurus Knowledge Solutions
Regular Plan Direct Plan IT - Services 0.42
Max Financial Services Limited Insurance 1.47 Limited
Reliance Industries
Growth 11.28 11.50 HDFC Asset Management Futures -0.09
Capital Markets 1.46 Limited
Company Limited Cash, Cash Equivalents and Net
4.40
TVS Motor Company Limited Automobiles 1.41 Current Assets
Total Expense Ratio (TER) InterGlobe Aviation Limited Transport Services 1.40 Grand Total 100.00

Including Additional Expenses and APL Apollo Tubes Limited Industrial Products 1.36
GST on Management Fees
Radico Khaitan Limited Beverages 1.34
• Regular. 2.12%
• Direct: 0.49% ^ Top 10 holdings
Total Stocks - 59
Rounded off to 2 decimal points
Please refer How to Read a Factsheet
section for definition of Large Cap, Mid Top 5 Sectors (%) Market Cap break-up (%)#
Cap and Small Cap. 
Cash & Others
Portfolio Beta, Standard Deviation, Financial Services 35.19%
4.31
and Sharpe Ratio of the Scheme is not Small Cap
computed owing to the short time frame Industrials 20.31% 16.78
(<3years) since launch of the scheme
Consumer Discretionary 9.86% Large Cap
Portfolio Turnover Ratio: 2.59 48.81

Information Technology 7.94%

Mid Cap
Commodities 5.58% 30.10

#
Categorization as per para 2.7 of SEBI master
circular dated June 27, 2024
Note: Please refer to page 10 for Performance Details, Please refer page no 12 for scheme riskometer & benchmark riskometer.
+Our investment approach aims to capture outsized opportunities by our differentiated insights to assess the Terminal Value of a company through the prism of Leadership, Intangibles and
Megatrends. #Growth at Reasonable Valuations (GARV) is an investment approach that looks at identifying stocks with strong growth potential available at reasonable valuations.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
01
TRUSTMF Small Cap Fund
(An open-ended equity scheme predominantly investing in small cap stocks)

Fund Highlights Investment Objective

• Follows “Terminal Value Investing+” and “Growth at Reasonable Valuations The objective of the scheme is to generate long term capital appreciation by investing
(GARV)#” approaches predominantly in equity and equity related securities of small cap companies. However,
• Provides an opportunity to invest in Unique themes, High Growth sectors. there is no assurance that the investment objective of the scheme will be realized.
• Deep research and expertise to select under-researched small-cap companies
• Ideal investment option for Long Term wealth creation

Portfolio as on May 31, 2025

Scheme Features Company/Issuer Industry
% To Net
Company/Issuer Industry
% To Net
Assets Assets

Date of Allotment Equity 96.55 Amber Enterprises India Limited Consumer Durables 1.43
Multi Commodity Exchange of India
04th November 2024 Limited^
Capital Markets 2.53 Apar Industries Limited Electrical Equipment 1.41
Chemicals & Industrial
Solar Industries India Limited^ 2.49 Jyoti CNC Automation Limited 1.40
Petrochemicals Manufacturing

Fund Manager (Managing Since) BSE Limited^ Capital Markets 2.34 V2 Retail Limited Retailing 1.37

Mihir Vora (since inception) PNB Housing Finance Limited^ Finance 2.19 Angel One Limited Capital Markets 1.37
Total Experience - 29 years Coforge Limited^ IT - Software 2.14 Apollo Micro Systems Limited
Aerospace &
1.36
Defense
Aakash Manghani (since inception) Chennai Petroleum Corporation
GE Vernova T&D India Limited^ Electrical Equipment 2.14 Petroleum Products 1.26
Total Experience - 14 years Limited
Chemicals &
Welspun Corp Limited^ Industrial Products 2.08 PCBL Chemical Limited 1.25
Petrochemicals
Fund Size Radico Khaitan Limited^ Beverages 2.04 PTC Industries Limited Industrial Products 1.22
Month end AUM: 970.00 Cr Bharat Dynamics Limited^
Aerospace &
2.01 Firstsource Solutions Limited
Commercial
1.17
Defense Services & Supplies
Monthly Average AUM: 899.79 Cr Gabriel India Limited^ Auto Components 1.99 Triveni Turbine Limited Electrical Equipment 1.16

Shaily Engineering Plastics Limited Industrial Products 1.97 Interarch Building Products Limited Construction 1.14
Load Structure Pharmaceuticals &
Blue Jet Healthcare Limited 1.90 Vishal Mega Mart Limited Retailing 1.10
Entry Load: Nil Biotechnology

Exit Load: 1% - If redeemed/ Pearl Global Industries Limited Textiles & Apparels 1.87 Cartrade Tech Limited Retailing 1.09
Cement & Cement Pharmaceuticals &
switched out within 180 days from JK Cement Limited
Products
1.86 Eris Lifesciences Limited
Biotechnology
1.08
the date of allotment. Prudent Corporate Advisory
Capital Markets 1.84 ASK Automotive Limited Auto Components 1.07
Services Limited
Nil - if redeemed/switched out after India Shelter Finance Corporation
The Federal Bank Limited Banks 1.81 Finance 1.05
180 days from the date of allotment Central Depository Services (India)
Limited
Pharmaceuticals &
Capital Markets 1.79 Cohance Lifesciences Limited 1.04
Limited Biotechnology
Aerospace & Computer Age Management
Benchmark Hindustan Aeronautics Limited
Defense
1.78
Services Limited
Capital Markets 1.03
NIFTY Smallcap 250 TRI Paradeep Phosphates Limited
Fertilizers &
1.77 PG Electroplast Limited Consumer Durables 1.02
Agrochemicals
Nuvama Wealth Management
Kfin Technologies Limited Capital Markets 1.00
Minimum Additional Purchase Limited
Capital Markets 1.77
Transformers And Rectifiers (India) Chemicals &
Amount: Minimum of ₹ 1,000/- and in Limited
Electrical Equipment 1.76 Navin Fluorine International Limited
Petrochemicals
0.99
multiples of any amount thereafter. Inox Wind Limited Electrical Equipment 1.74 K.P.R. Mill Limited Textiles & Apparels 0.98
Krishna Institute of Medical
Minimum Redemption / Switch-out Chalet Hotels Limited Leisure Services 1.74
Sciences Limited
Healthcare Services 0.95
Cholamandalam Financial Holdings Industrial
Amount: There will be no minimum Limited
Finance 1.74 Kaynes Technology India Limited
Manufacturing
0.92
redemption criterion. Sagility India Limited IT - Services 1.73
Healthcare
Laxmi Dental Limited Equipment & 0.92
Commercial
NAV as on 30th May. 2025 eClerx Services Limited
Services & Supplies
1.72 Supplies
Quadrant Future Tek Limited Industrial Products 0.79
Karur Vysya Bank Limited Banks 1.69
Regular Plan Direct Plan Max Financial Services Limited Insurance 0.78
Commercial
Awfis Space Solutions Limited 1.65
Services & Supplies Aerospace &
Growth 10.00 10.10 Bharat Electronics Limited 0.71
Persistent Systems Limited IT - Software 1.61 Defense
Inventurus Knowledge Solutions
IT - Services 0.59
S.J.S. Enterprises Limited Auto Components 1.59 Limited
Mazagon Dock Shipbuilders Industrial
Total Expense Ratio (TER) Aerospace & 0.46
Data Patterns (India) Limited 1.58 Limited Manufacturing
Defense Cash, Cash Equivalents and Net
Including Additional Expenses and 3.45
Safari Industries (India) Limited Consumer Durables 1.57 Current Assets
GST on Management Fees Pharmaceuticals & Grand Total 100.00
Ami Organics Limited 1.52
• Regular. 2.17% Biotechnology
• Direct: 0.51% Aster DM Healthcare Limited Healthcare Services 1.47

^ Top 10 holdings
Please refer How to Read a Factsheet Total Stocks - 65
Rounded off to 2 decimal points
section for definition of Large Cap, Mid
Cap and Small Cap.
Top 5 Sectors (%) Market Cap break-up (%)#
Portfolio Beta, Standard Deviation,
Cash & Others Large Cap
and Sharpe Ratio of the Scheme is not Industrials 25.64% 3.45 2.49
computed owing to the short time frame Mid Cap
(<3years) since launch of the scheme Financial Services 22.91%
21.67

Consumer Discretionary 16.82%

Healthcare 8.89%

Small Cap
Commodities 8.36% 72.39

Note - Please refer to page 10 for Performance Details, Please refer page no 12 for scheme riskometer & benchmark riskometer.
+Our investment approach aims to capture outsized opportunities by our differentiated insights to assess the Terminal Value of a company through the prism of Leadership, Intangibles and Megatrends. #Growth
at Reasonable Valuations (GARV) is an investment approach that looks at identifying stocks with strong growth potential available at reasonable valuations.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 02
TRUSTMF Banking & PSU Fund
An open-ended debt scheme predominantly investing in debt instruments of Banks, Public Sector Undertakings,
Public Financial Institutions and Municipal Bonds. A relatively high interest rate risk and relatively low credit risk.

Fund Highlights Fund Rating Investment Objective

• Focus on Diversified Top rated Quality Portfolio with High Liquidity To generate reasonable returns by primarily investing in debt and money market securities
• Portfolio primarily comprises of high- quality AAA and SOV assets that are issued by Banks, Public Sector Undertakings (PSUs), Financial Institutions (PFIs)
and Municipal Bonds. However, there can be no assurance that the investment objective
• Roll down strategy$ with current target maturity ~3 years$
[ICRA] AAAmfs of the scheme will be realised.
• Focuses on corporate bonds offering attractive yields and spreads over
respective G-Secs
• Aims to reduce volatility for better risk adjusted returns

Portfolio as on May 31, 2025

Scheme Features Company/Issuer Industry % To Net Assets

Date of Allotment
Government Securities/State Development Loans 12.76
1st February 2021
Government of India^ Sovereign 12.76

Fund Manager (Managing Since) Certificate of Deposits 11.31

Jalpan Shah since (11th June 2024)
Total Experience - 20 years Axis Bank Limited^ CRISIL A1+ 11.31
Neeraj Jain since (11th April 2024)
Total Experience - 7 years Non Convertible Debentures 55.88

Fund Size Power Finance Corporation Limited^ CRISIL AAA 11.24

Month end AUM: 110.09 Cr
Monthly Average AUM: 121.27 Cr REC Limited^ CRISIL AAA 9.36

Load Structure National Bank for Agriculture and Rural Development^ CRISIL AAA 8.36
Entry Load: Nil
National Housing Bank^ CRISIL AAA 8.35
Exit Load: Nil
Housing Development Finance Corporation^ CRISIL AAA 5.57
Benchmark
EXIM Bank^ CRISIL AAA 4.65
Tier I Benchmark - CRISIL Banking
and PSU Debt A-II Index
LIC Housing Finance Limited^ CRISIL AAA 4.63
Tier II Benchmark - CRISIL Select
AAA Roll Down Banking & PSU Debt Small Industries Development Bank of India^ CRISIL AAA 2.79
Index
Power Grid Corporation of India Limited CRISIL AAA 0.92
Minimum Investment: (lumpsum):
₹ 1,000/- Treasury Bills Sovereign 0.45

Others$$ 0.96
NAV as on 30th May 2025
Regular Plan Direct Plan Investment in Corporate Debt Market Development Fund (CDMDF) 0.96

Growth ` 1270.2408 ` 1298.0258 Cash, Cash Equivalents and Net Current Assets 18.64

IDCW@ ` 1121.1606 ` 1140.3473 Grand Total 100.00

(Monthly)
@
Income Distribution cum Capital $$
Investment as mandated by SEBI as per para 16 A.2 of SEBI Master Circular dated June 27, 2024
Withdrawal Rounded off to 2 decimal points

Total Expense Ratio (TER)

Including Additional Expenses and
GST on Management Fees
• Regular. 0.71%
• Direct: 0.21% Portfolio Allocation (%) Rating break-up (%)
Cash & Cash Cash & Cash
T-Bills
Portfolio Parameters Maturity Equivalents
0.45 Equivalents
19.60 19.60
Yield** 6.36%
Certificate of
Average Maturity 2.30 Years Deposits Sovereign
11.31 Non Convertible 13.21 AAA/A1+
Modified Duration 1.96 Years Debentures 67.19
55.88
Macaulay Duration 2.06 Years G-Sec, SDL
12.76
Considering the special features bonds (AT1 bonds) are
called on the call date **in case of semi annual YTM, it
will be annualised
#
CRISIL has been engaged for - construction & periodic rebalancing of model portfolio & universe, back testing & ongoing investment process validation *The scheme is currently following a ‘roll down’
investment approach with approximate tenure on a tactical basis and same is subject to change. The investment will be made in line with investment strategy and asset allocation as prescribed in the Scheme
related
Note : Yield to Maturity and Yield to Call details should not be construed as indicative returns and the securities bought by the Fund may or may not be held till the respective maturities. Please refer to page
09 for IDCW@ Details, page 10 for Performance Details and page 11 for Note on Fund Rating & Note on Limited Active methodology. Please refer page no 12 for scheme riskometer & benchmark riskometer.
Disclaimer:- $The scheme is currently following a ‘roll down’ investment approach with approximate tenure on a tactical basis. The same is subject to change depending on investment opportunities.The
investment will be made in line with investment strategy and asset allocation as prescribed in the scheme related documents.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 03
TRUSTMF Corporate Bond Fund
An open-ended Debt Scheme predominantly investing in AA+ and above rated corporate bonds.
A relatively high interest rate risk and moderate credit risk.

Fund Highlights Fund Rating Investment Objective

• Seeks to build top quality portfolio To generate optimal returns by investing predominantly in AA+ and above
• Aims to provide high accrual by investing in high quality corporate papers rated corporate bonds. However, there can be no assurance that the
investment objective of the scheme will be realized.
• Duration management through limited part of the portfolio [ICRA] AAAmfs
• Unique methodology in partnership with CRISIL#
• Strong Internal and External Risk Controls

Portfolio as on May 31, 2025

Scheme Features Company/Issuer Industry % To Net Assets

Date of Allotment
Government Securities/State Development Loans 13.37
20th January 2023
Government of India^ Sovereign 13.37
Fund Manager (Managing Since)
Non Convertible Debentures 60.74
Jalpan Shah since (11th June 2024)
Total Experience - 20 years
National Bank for Agriculture and Rural Development^ ICRA AAA 11.94
Neeraj Jain since (11th April 2024)
Total Experience - 7 years
EXIM Bank^ CRISIL AAA 11.80

Fund Size LIC Housing Finance Limited^ CRISIL AAA 11.76

Month end AUM: 43.38 Cr
Monthly Average AUM: 44.73 Cr Housing Development Finance Corporation^ CRISIL AAA 9.42

Load Structure Power Finance Corporation Limited^ CRISIL AAA 7.13

Entry Load: Nil
Exit Load: Nil Small Industries Development Bank of India^ CRISIL AAA 4.72

National Housing Bank^ CRISIL AAA 2.36

Benchmark
Tier I Benchmark - CRISIL Corporate Summit Digitel Infrastructure Pvt Ltd^ CRISIL AAA 1.61
Debt A-II Index
Tier II Benchmark - CRISIL Select Zero Coupon Bond 6.43
AAA Corporate Bond Fund Index
REC Limited^ CRISIL AAA 6.43
Minimum Investment: (lumpsum):
₹ 1,000/- Treasury Bills Sovereign 0.64

NAV as on 30th May 2025 Others$$ 0.81

Regular Plan Direct Plan
Investment in Corporate Debt Market Development Fund
0.81
Growth ` 1194.1680 ` 1205.4881 (CDMDF)

IDCW@ ` 1149.0788 ` 1161.9862 Cash, Cash Equivalents and Net Current Assets 18.01
(Monthly)
Income Distribution cum Capital
@
Grand Total 100.00
Withdrawal
$$
Investment as mandated by SEBI as per para 16 A.2 of SEBI Master Circular dated June 27, 2024
Total Expense Ratio (TER) Rounded off to 2 decimal points
Including Additional Expenses and
GST on Management Fees
• Regular. 0.65%
• Direct: 0.25%

Portfolio Parameters Maturity Portfolio Allocation (%) Rating break-up (%)

Zero Coupon
Yield** 6.46% Bond Cash & Cash
T-Bills
6.43 Equivalents
0.64
Average Maturity 3.78 Years Cash & Cash 18.82
Equivalents
18.82
Modified Duration 3.14 Years
Sovereign AAA/A1+
Macaulay Duration 3.28 Years 14.01 67.17
**in case of semi annual YTM, it will be annualised
G-Sec, SDL
13.37 Non Convertible
Debentures
60.74

Note : Please refer to page 11 for Performance Details, Note on Fund Rating & Note on Limited Active methodology Please refer to page 11. Please refer page no 12 for scheme riskometer & benchmark
riskometer. *CRISIL has been engaged for - construction & periodic rebalancing of model portfolio & universe, back testing & ongoing investment process validation.

Note : Yield to Maturity details should not be construed as indicative returns and the securities bought by the Fund may or may not be held till the respective maturities.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 04
TRUSTMF Short Duration Fund
An open-ended short-term debt scheme investing in instruments such that the Macaulay Duration# of the
portfolio is between 1 to 3 years. A moderate interest rate risk and relatively low credit risk.

Fund Highlights Fund Rating Investment Objective

• Focuses on Steep yield curve that may provide opportunity to generate capital gains The scheme will endeavor to generate stable returns for investors with
due to roll-down effect a short term investment horizon by investing in debt and money market
• Focuses on top quality investible universe of filtered AAA issuers instruments. However, there can be no assurance that the investment
[ICRA] AAAmfs objective of the scheme will be achieved.
• Lower interest rate risk as it is less sensitive to interest rate movement
• Aims to provide the highest quality portfolio of select AAA and Sovereign securities
• Unique methodology in partnership with CRISIL#

Portfolio as on May 31, 2025

Scheme Features
Company/Issuer Industry % To Net Assets
Date of Allotment
Government Securities/State Development Loans 14.96
06th August 2021
Government of India^ Sovereign 14.96

Fund Manager (Managing Since) Non Convertible Debentures 67.79

Jalpan Shah since (11th June 2024)
Total Experience - 20 years National Bank for Agriculture and Rural Development^ CRISIL AAA 9.96
Neeraj Jain since (11th April 2024)
Total Experience - 7 years EXIM Bank^ CRISIL AAA 9.07

Small Industries Development Bank of India^ CRISIL AAA 9.06

Fund Size
Month end AUM: 112.92 Cr Power Finance Corporation Limited^ CRISIL AAA 9.01
Monthly Average AUM: 111.92 Cr
Bajaj Finance Limited^ CRISIL AAA 8.99
Load Structure
Power Grid Corporation of India Limited^ CRISIL AAA 8.09
Entry Load: Nil
Exit Load: Nil REC Limited^ CRISIL AAA 4.56

National Housing Bank^ CRISIL AAA 4.52

Benchmark
Tier I Benchmark - CRISIL Short LIC Housing Finance Limited^ CRISIL AAA 4.51
Duration Debt A-II Index
Tier II Benchmark - CRISIL Select Certificate of Deposits 2.56
AAA Short Duration Fund Index
HDFC Bank Limited CRISIL A1+ 1.71

Minimum Investment: (lumpsum): Axis Bank Limited CRISIL A1+ 0.85

₹ 1,000/-
Treasury Bills Sovereign 0.26
NAV as on 30th May 2025
Others $$
0.28
Regular Plan Direct Plan
Investment in Corporate Debt Market Development Fund
Growth ` 1252.3809 ` 1276.5168 0.28
(CDMDF)

IDCW@ ` 1120.8593 ` 1134.2820 Cash, Cash Equivalents and Net Current Assets 14.14
(Monthly)
Grand Total 100.00
@
Income Distribution cum Capital
Withdrawal
$$
Investment as mandated by SEBI as per para 16 A.2 of SEBI Master Circular dated June 27, 2024
Total Expense Ratio (TER) Rounded off to 2 decimal points
Including Additional Expenses and
GST on Management Fees
• Regular. 0.73%
• Direct: 0.23%
Portfolio Allocation (%) Rating break-up (%)
Portfolio Parameters Maturity Cash & Cash
Certificate of
Yield** 6.45% Deposits Equivalents
2.56 T-Bills 14.42
Cash & Cash 0.26
Average Maturity 2.77 Years Equivalents
14.42
Modified Duration 2.29 Years
Sovereign AAA/A1+
G-Sec, SDL Non Convertible
15.23 70.35
Macaulay Duration 2.41 Years 14.96 Debentures
67.79
**in case of semi annual YTM, it will be annualised

*CRISIL has been engaged for - construction & periodic rebalancing of model portfolio & universe, back testing & ongoing investment process validation.
Note : Yield to Maturity details should not be construed as indicative returns and the securities bought by the Fund may or may not be held till the respective maturities.
#
Macaulay duration is the measure of the weighted average time taken to get back the cash flows and is one comprehensive parameter portraying the risk-return profile of the bond. For further details, please
refer to the scheme information document. Please refer to page 09 for IDCW@ Details, page 10 for Performance Details and page 11 for Note on Fund Rating & Note on Limited Active methodology. Please refer
page no 13 for scheme riskometer & benchmark riskometer.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 05
TRUSTMF Money Market Fund
An open-ended debt scheme investing in money market instruments.
A relatively low interest rate risk and moderate credit rate risk.

Fund Highlights Fund Rating Investment Objective

• Seeks to benefit from steepness in money market yield curve To generate income/ capital appreciation by investing in money market
• Investment into short term instruments maturing from overnight to 1 year instruments having maturity of upto 1 year. However, there can be no
• CRISIL* determined high quality investible universe [ICRA] AAAmfs assurance that the investment objective of the scheme will be realized.
• Unique methodology in partnership with CRISIL#
• Ideal strategy for rising rate scenario

Portfolio as on May 31, 2025

Scheme Features
Company/Issuer Industry % To Net Assets
Date of Allotment
Certificate of Deposits 70.12
17th August 2022
Axis Bank Limited^ CRISIL A1+ 10.83
Fund Manager (Managing Since)
Jalpan Shah since (11th June 2024) Canara Bank^ CRISIL A1+ 8.91
Total Experience - 20 years
Punjab National Bank^ CRISIL A1+ 8.76
Neeraj Jain since (11th April 2024)
Total Experience - 7 years
National Bank for Agriculture and Rural Development^ CRISIL A1+ 8.67

Fund Size Small Industries Development Bank of India^ CRISIL A1+ 8.67
Month end AUM: 110.48 Cr
Monthly Average AUM: 103.03 Cr Kotak Mahindra Bank Limited^ CRISIL A1+ 8.65

Load Structure EXIM Bank^ CRISIL A1+ 8.61

Entry Load: Nil
Exit Load: Nil HDFC Bank Limited^ CRISIL A1+ 7.01

Commercial Papers 14.68

Benchmark
Tier I Benchmark - CRISIL Money
Market A-I Index LIC Housing Finance Limited^ CRISIL A1+ 8.64

L&T Finance Limited CRISIL A1+ 4.24

Minimum Investment: (lumpsum):
₹ 1,000/- NTPC Limited CRISIL A1+ 1.79

Treasury Bills^ Sovereign 4.63

NAV as on 30th May 2025
Regular Plan Direct Plan Others$$ 0.45

Growth ` 1214.2855 ` 1220.0581 Investment in Corporate Debt Market Development Fund

0.45
(CDMDF)
IDCW @
` 1116.1142 ` 1121.6210
(Monthly)
Cash, Cash Equivalents and Net Current Assets 10.12
@
Income Distribution cum Capital
Withdrawal Grand Total 100.00

Total Expense Ratio (TER) $$

Investment as mandated by SEBI as per para 16 A.2 of SEBI Master Circular dated June 27, 2024
Including Additional Expenses and Rounded off to 2 decimal points
GST on Management Fees
• Regular. 0.46%
• Direct: 0.16% Portfolio Allocation (%) Rating break-up (%)
Cash and Cash Cash & Cash
Equivalents Equivalents
10.57 10.57
Portfolio Parameters Maturity T-Bills
4.63 Sovereign
Yield** 6.34% 4.63
Commercial
Average Maturity 208 Days Papers
14.68 Certificate of AAA/A1+
Modified Duration 195 Days Deposits 84.80
70.12
Macaulay Duration 208 Days
**in case of semi annual YTM, it will be annualised

*CRISIL has been engaged for - construction & periodic rebalancing of model portfolio & universe, back testing & ongoing investment process validation.
Note : Yield to Maturity details should not be construed as indicative returns and the securities bought by the Fund may or may not be held till the respective maturities.
Please refer to page 09 for IDCW@ Details, page 11 for Performance Details & Note on Fund Rating & Note on Limited Active methodology.
Please refer page no 13 for scheme riskometer & benchmark riskometer.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 06
TRUSTMF Liquid Fund
An open-ended liquid scheme.
A relatively low interest rate risk and relatively low credit risk.

Fund Highlights Fund Rating Investment Objective

• Seeks Investment into Issuers with AAA Long Term Ratings The objective of the scheme is to provide reasonable returns at a high
• Investment in short term debt and money market instruments with level of safety and liquidity through investments in high quality debt and
maturities usually up to 91 days. [ICRA] A1+mfs money market instruments. However, there can be no assurance that the
• Strategic knowledge partnership with CRISIL* investment objective of the scheme will be realised.
• Structurally Laddered Portfolio with Segmental Allocation

Portfolio as on May 31, 2025

Scheme Features Company/Issuer Industry % To Net Assets

Date of Allotment Commercial Papers 41.99

23rd April 2021
National Bank for Agriculture and Rural Development^ ICRA A1+ 6.52
Fund Manager (Managing Since)
Jalpan Shah since (11th June 2024) ICICI Securities Limited^ CRISIL A1+ 6.51
Total Experience - 20 years Bajaj Financial Securities Limited^ CRISIL A1+ 6.45
Neeraj Jain since (11th April 2024)
Total Experience - 7 years EXIM Bank^ CRISIL A1+ 3.27

Fund Size Hindustan Petroleum Corporation Limited^ CRISIL A1+ 3.26

Month end AUM: 764.49 Cr
Kotak Securities Limited^ CRISIL A1+ 3.26
Monthly Average AUM: 795.44 Cr
Small Industries Development Bank of India CRISIL A1+ 3.26
Load Structure
Entry Load: Nil Indian Oil Corporation Limited ICRA A1+ 3.26
Exit Load: Exit Load: as a % of
redemption proceeds (including Sundaram Finance Limited CRISIL A1+ 3.24
systematic transactions) Up to
NTPC Limited CRISIL A1+ 2.98
Day 1 : 0.0070%, Day 2 : 0.0065%,
Day 3 : 0.0060%, Day 4 : 0.0055%, Certificate of Deposits 35.63
Day 5 : 0.0050%, Day 6 : 0.0045%,
Day 7 onwards Nil ICICI Bank Limited^ ICRA A1+ 12.95

HDFC Bank Limited^ CARE A1+ 9.73

Benchmark
Tier I Benchmark - CRISIL Liquid Punjab National Bank^ CARE A1+ 6.47
Debt A-I Index
Axis Bank Limited CRISIL A1+ 3.26
Tier II Benchmark - CRISIL Select
AAA Liquid Fund Index Bank of Baroda IND A1+ 3.24

Minimum Investment: (lumpsum): Non Convertible Debentures 1.96

₹ 1,000/- Small Industries Development Bank of India CARE AAA 1.96

NAV as on 31 May 2025st Treasury Bills^ Sovereign 19.07

Regular Plan Direct Plan Others$$ 0.10

Growth ` 1262.7885 ` 1270.6647 Investment in Corporate Debt Market Development Fund

0.10
(CDMDF)
IDCW @
` 1153.6248 ` 1160.5479 Cash, Cash Equivalents and Net Current Assets 1.25
(Monthly)
@
Income Distribution cum Capital Grand Total 100.00
Withdrawal
$$
Investment as mandated by SEBI as per para 16 A.2 of SEBI Master Circular dated June 27, 2024
Total Expense Ratio (TER)
Rounded off to 2 decimal points
Including Additional Expenses and
GST on Management Fees
• Regular. 0.25% Portfolio Allocation (%) Rating break-up (%)
• Direct: 0.10% Cash and Cash Cash and Cash
Equivalents Equivalents
Portfolio Parameters Maturity Non Convertible 1.34 1.34
Debentures
Sovereign
Yield** 6.20% 1.96
Commercial 19.07
Papers
T-Bills
Average Maturity 47 Days 41.99
19.07

Modified Duration 44 Days

AAA/A1+
Macaulay Duration 47 Days Certificate of 79.58
Deposits
**in case of semi annual YTM, it will be annualised 35.63

Note : Yield to Maturity details should not be construed as indicative returns and the securities bought by the Fund may or may not be held till the respective maturities.
Please refer to page 09 for IDCW@ Details, page 10 for Performance Details and page 11 for Note on Fund Rating & Note on Limited Active methodology.
Please refer page no 13 for scheme riskometer & benchmark riskometer

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 07
TRUSTMF Overnight Fund
An open-ended debt scheme investing in overnight securities.
A relatively low interestrate risk and relatively low credit risk.

Fund Highlights Investment Objective

• Investments in debt and money market securities with a maturity of one business day The investment objective of the Scheme is to provide reasonable returns
• Returns in line with the overnight call / money market rates commensurating with overnight call rates and providing a high level of liquidity,
through investments
• Endeavors to offer high liquidity, low risk & minimal volatility in overnight securities having maturity/unexpired maturity of 1 business day.
• Less sensitive to interest rate changes However, there can be no assurance that the investment objective of the scheme
will be realized.

Portfolio as on May 31, 2025

Scheme Features
Company/Issuer Industry % To Net Assets
Date of Allotment
19th January 2022 Treasury Bills Sovereign 1.90

Cash, Cash Equivalents and Net Current Assets 98.10

Fund Manager (Managing Since)
Jalpan Shah since (11th June 2024) Grand Total 100.00
Total Experience - 20 years
Neeraj Jain since (11th April 2024)
Total Experience - 7 years Rounded off to 2 decimal points

Fund Size
Month end AUM: 78.60 Cr
Monthly Average AUM: 92.01 Cr

Load Structure
Entry Load: Nil
Exit Load: Nil

Benchmark
CRISIL Liquid Overnight Index

Minimum Investment: (lumpsum):

₹ 1,000/-

NAV as on 31st May 2025

Regular Plan Direct Plan

Growth ` 1218.258 ` 1220.2924

IDCW@ ` 1203.0972 ` 1203.6702

(Daily)
@
Income Distribution cum Capital
Withdrawal

Total Expense Ratio (TER)

Including Additional Expenses and
GST on Management Fees
• Regular. 0.12%
• Direct: 0.07%

Portfolio Parameters Maturity Portfolio Allocation (%) Rating break-up (%)

Yield** 5.84% T-Bills Sovereign
1.90 1.90
Average Maturity 2 Days

Modified Duration 2 Days

Macaulay Duration 2 Days

**in case of semi annual YTM, it will be annualised

Cash & Cash

Cash & Cash
Equivalents
98.10 Equivalents
98.10

Note : Yield to Maturity details should not be construed as indicative returns and the securities bought by the Fund may or may not be held till the respective maturities.
Please refer to page 11 for Performance Details. Please refer page no 13 for scheme riskometer & benchmark riskometer.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 08
Income Distribution cum Capital
Withdrawal (IDCW)
Data as on 30th May 2025

TRUSTMF Banking and PSU Fund IDCW@

Frequency Record Date Direct Plan IDCW Regular Plan IDCW

IDCW per unit (in `) Ex NAV IDCW per unit (in `) Ex NAV

25-Mar-25 2.80 1114.4091 2.80 1096.4822

Monthly 25-Apr-25 2.80 1129.5868 2.80 1110.9277

26-May-25 2.80 1139.3831 2.80 1120.1520

25-Sep-24 9.00 1109.5172 9.00 1089.7769

Quarterly 26-Dec-24 9.00 1117.7724 9.00 1096.3489

25-Mar-25 9.00 1130.9892 9.00 1107.8635

27-Mar-24 36.00 1057.3721 36.00 1039.7100

Annually
25-Mar-25 36.00 1107.1735 36.00 1082.4235

TRUSTMF Liquid Fund IDCW@

Frequency Record Date Direct Plan IDCW Regular Plan IDCW

IDCW per unit (in `) Ex NAV IDCW per unit (in `) Ex NAV

25-Mar-25 2.00 1149.2692 2.00 1142.9156

Monthly 25-Apr-25 2.00 1155.1543 2.00 1148.5213

25-May-25 2.00 1159.3096 2.00 1152.4702

TRUSTMF Short Duration Fund IDCW@

Frequency Record Date Direct Plan IDCW Regular Plan IDCW

IDCW per unit (in `) Ex NAV IDCW per unit (in `) Ex NAV

25-Mar-25 3.00 1107.4181 3.00 1095.2308

Monthly 25-Apr-25 3.00 1123.2313 3.00 1110.3997

26-May-25 3.00 1133.7536 3.00 1120.3418

25-Sep-24 9.00 1097.9987 9.00 1079.9086

Quarterly 26-Dec-24 9.00 1105.5810 9.00 1085.8788

25-Mar-25 9.00 1119.7730 9.00 1098.3801

TRUSTMF Money Market Fund IDCW@

Frequency Record Date Direct Plan IDCW Regular Plan IDCW

IDCW per unit (in `) Ex NAV IDCW per unit (in `) Ex NAV

25-Mar-25 3.00 1108.7459 3.00 1103.9863

Monthly 25-Apr-25 3.00 1116.4749 3.00 1111.3835

26-May-25 3.00 1120.4486 3.00 1115.0113

TRUSTMF Corporate Bond Fund IDCW@

Frequency Record Date Direct Plan IDCW Regular Plan IDCW

IDCW per unit (in `) Ex NAV IDCW per unit (in `) Ex NAV

25-Mar-25 2.80 1132.4979 2.80 1120.9286

Monthly 25-Apr-25 2.80 1151.0185 2.80 1138.7743

26-May-25 2.80 1160.8234 2.80 1147.9733

IDCW Disclaimer : Pursuant to payout, the NAV of the IDCW option of the Scheme falls to the extent of the payout and statutory levy, if any. Past performance may or may not be sustained in future. IDCW is
on the face value of ` 1000/- per unit. Please refer to our website www.trustmf.com for complete IDCW history details.@IDCW means Income Distribution cum Capital Withdrawal.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 09
Performance Details
Data as on 30th May 2025

TRUSTMF Flexi Cap Fund (Inception Date: April 26, 2024)

Period 1 Year Since Inception
Returns Value of 10,000 Returns Value of 10,000
(%) Invested (INR) (%) Invested (INR)

TRUSTMF Flexi Cap Fund - Reg - Growth 9.86% 10,983 11.65% 11,280
Nifty 500 TRI 1 9.05% 10,902 9.70% 11,065
Nifty 50 TRI 2 11.11% 11,108 10.95% 11,202

TRUSTMF Flexi Cap Fund - Dir - Growth 11.90% 11,187 13.64% 11,500
Nifty 500 TRI 1 9.05% 10,902 9.70% 11,065
Nifty 50 TRI 2 11.11% 11,108 10.95% 11,202
1
Scheme Benchmark, 2 Additional Benchmark, Returns (%) for less than 1 year are calculated on simple annualized basis and for 1 year & above are calculated on compounded annualized basis (CAGR). Mr.
Mihir Vora & Mr. Aakash Manghani are managing the scheme since inception. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of
advertisement. Benchmark returns calculated based on Total Return Index Values. Different plans have a different expense structure. Past performance may or may not be sustained in future & should not
be used as basis of comparison with other investment.

TRUSTMF Small Cap Fund (Inception Date: November 04, 2024)

Period Last 6 Months Since Inception
Returns Value of 10,000 Returns Value of 10,000
(%) Invested (INR) (%) Invested (INR)

TRUSTMF Small Cap Fund - Reg - Growth -6.41% 9,681 0.00% 10,000
Nifty Smallcap 250 TRI 1 -9.74% 9,515 -7.43% 9,579
Nifty 50 TRI 2 6.11% 10,305 6.49% 10,368

TRUSTMF Small Cap Fund - Dir - Growth -4.84% 9,758 1.76% 10,100
Nifty Smallcap 250 TRI 1 -9.74% 9,515 -7.43% 9,579
Nifty 50 TRI 2 6.11% 10,305 6.49% 10,368
1
Scheme Benchmark, 2 Additional Benchmark, Returns (%) for less than 1 year are calculated on simple annualized basis and for 1 year & above are calculated on compounded annualized basis (CAGR). Mr.
Mihir Vora & Mr. Aakash Manghani are managing the scheme since inception. Period for which scheme’s performance has been provided is computed basis last day of the month-end preceding the date of
advertisement. Benchmark returns calculated based on Total Return Index Values. Different plans have a different expense structure. Past performance may or may not be sustained in future & should not
be used as basis of comparison with other investment.

TRUSTMF Banking & PSU Fund (Inception Date: February 1, 2021)

Period 1 Year 3 Years Since Inception
Returns Value of 10,000 Returns Value of 10,000 Returns Value of 10,000
(%) Invested (INR) (%) Invested (INR) (%) Invested (INR)
TRUSTMF Banking & PSU Fund - Reg - Growth 9.03% 10,900 7.16% 12,305 5.69% 12,702
CRISIL Banking and PSU Debt A-II Index 1 8.83% 10,880 7.48% 12,415 6.21% 12,976
CRISIL Select AAA Roll Down Banking & PSU Debt Index 2 10.05% 11,002 7.89% 12,557 6.55% 13,161
CRISIL 10 Year Gilt Index 3 11.75% 11,171 9.43% 13,106 6.05% 12,891

TRUSTMF Banking & PSU Fund - Dir - Growth 9.58% 10,955 7.69% 12,490 6.22% 12,980
CRISIL Banking and PSU Debt A-II Index 1 8.83% 10,880 7.48% 12,415 6.21% 12,976
CRISIL Select AAA Roll Down Banking & PSU Debt Index 2 10.05% 11,002 7.89% 12,557 6.55% 13,161
CRISIL 10 Year Gilt Index 3 11.75% 11,171 9.43% 13,106 6.05% 12,891

TRUSTMF Short Duration Fund (Inception Date: August 6, 2021)

Period 1 Year 3 Years Since Inception
Returns Value of 10,000 Returns Value of 10,000 Returns Value of 10,000
(%) Invested (INR) (%) Invested (INR) (%) Invested (INR)
TRUSTMF Short Duration Fund - Reg - Growth 9.29% 10,927 7.23% 12,331 6.07% 12,524
CRISIL Short Duration Debt A-II Index 1 9.18% 10,916 7.65% 12,476 6.45% 12,695
CRISIL Select AAA Short Duration Fund Index 2 9.45% 10,943 7.78% 12,519 6.49% 12,713
CRISIL 10 Year Gilt Index 3 11.75% 11,171 9.43% 13,106 6.47% 12,703

TRUSTMF Short Duration Fund - Dir - Growth 9.84% 10,982 7.77% 12,517 6.61% 12,765
CRISIL Short Duration Debt A-II Index 1 9.18% 10,916 7.65% 12,476 6.45% 12,695
CRISIL Select AAA Short Duration Debt Index 2 9.45% 10,943 7.78% 12,519 6.49% 12,713
CRISIL 10 Year Gilt Index 3 11.75% 11,171 9.43% 13,106 6.47% 12,703
Tier I Benchmark, 2 Tier II Benchmark, 3 Additional Benchmark
1

Disclaimer: Returns (%) for less than 1 year are calculated on simple annualized basis and for 1 year & above are calculated on compounded annualized basis (CAGR). Mr. Jalpan Shah & Mr. Neeraj Jain since is managing all the debt schemes of
the TRUST Mutual Fund since 11th June 2024 & 11th April 2024 respectively. Performance details of eligible schemes have been given on page no 10, & 11. Period for which scheme’s performance has been provided is computed basis last day of
the month-end preceding the date of advertisement. Benchmark returns calculated based on Total Return Index Values. Different plans have a different expense structure. Past performance may or may not be sustained in future, & should not be
used as basis of comparison with other investment.
Scheme riskometer, Benchmark riskometer and PRC of the schemes have been provided on page no. 12 & 13.
Note for Limited Active Methodology: TRUSTMF has adopted Limited Active Methodology for certain schemes, which is a structured methodology where the fund manager attempts to invest predominantly in line with the internally created model
portfolio and takes exposure on pre-defined limits.
Note for “ICRA AAAmfs”: TRUSTMF Banking & PSU Fund, TRUSTMF Corporate Bond Fund & TRUSTMF Short Duration Fund is rated as “ICRA AAAmfs”. Such rating is considered to have the highest degree of safety regarding timely receipt of
payments from the investments that they have made. This range should however, not be construed as an indication of the performance of the scheme or of volatility in its returns. The rating should not be treated as a recommendation to buy, sell
or hold units issued by the scheme.
Note for “ICRA A1+mfs”: TRUSTMF Liquid Fund & TRUSTMF Money Market Fund is rated as “ICRA A1+mfs”. Such rating is considered to have very strong degree of safety regarding timely receipt of payments from the investments that they have
made. This range should however, not be construed as an indication of the performance of the scheme or of volatility in its returns. The rating should not be treated as a recommendation to buy, sell or hold units issued by the scheme.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 10
Performance Details
Data as on 30th May 2025

TRUSTMF Liquid Fund (Inception Date: April 23, 2021)

Period 7 Days 15 Days 30 Days 1 Year 3 Years Since Inception
Value of Value of Value of Value of Value of Value of
Returns 10,000 Returns 10,000 Returns 10,000 Returns 10,000 Returns 10,000 Returns 10,000
(%) Invested (%) Invested (%) Invested (%) Invested (%) Invested (%) Invested
(INR) (INR) (INR) (INR) (INR) (INR)
TRUSTMF LiquidFund - Reg -
6.31% 10,012 6.78% 10,028 6.50% 10,055 7.10% 10,710 6.79% 12,181 5.85% 12,628
Growth
CRISIL Liquid Debt A-I Index 1 6.16% 10,012 6.65% 10,027 6.42% 10,054 7.15% 10,715 6.92% 12,227 6.03% 12,718
CRISIL Select AAA Liquid Debt
6.24% 10,012 6.52% 10,027 6.45% 10,055 7.13% 10,713 6.91% 12,222 5.99% 12,698
Index 2
CRISIL 1 Year T-Bill Index 3
8.14% 10,016 8.34% 10,034 8.89% 10,075 8.00% 10,800 7.11% 12,290 5.94% 12,676

TRUSTMF Liquid Fund - Dir -

6.46% 10,012 6.93% 10,028 6.65% 10,056 7.26% 10,726 6.95% 12,236 6.01% 12,707
Growth
CRISIL Liquid Debt A-I Index 1
6.16% 10,012 6.65% 10,027 6.42% 10,054 7.15% 10,715 6.92% 12,227 6.03% 12,718
CRISIL Select AAA Liquid Debt
6.24% 10,012 6.52% 10,027 6.45% 10,055 7.13% 10,713 6.91% 12,222 5.99% 12,698
Index 2
CRISIL 1 Year T-Bill Index 3
8.14% 10,016 8.34% 10,034 8.89% 10,075 8.00% 10,800 7.11% 12,290 5.94% 12,676

TRUSTMF Overnight Fund (Inception Date: January 19, 2022)

Period 7 Days 15 Days 30 Days 1 Year 3 Year Since Inception
Value of Value of Value of Value of Value of
Value of
Returns 10,000 Returns 10,000 Returns 10,000 Returns 10,000 Returns 10,000 Returns
10,000
(%) Invested (%) Invested (%) Invested (%) Invested (%) Invested (%)
Invested (INR)
(INR) (INR) (INR) (INR) (INR)
TRUSTMF Overnight
5.65% 10,011 5.62% 10,023 5.65% 10,048 6.43% 10,643 6.34% 12,026 6.04% 12,183
Fund - Reg - Growth
CRISIL Liquid
5.76% 10,011 5.74% 10,024 5.76% 10,049 6.51% 10,651 6.45% 12,065 6.15% 12,225
Overnight Index 1
CRISIL 1 Year T-Bill
8.14% 10,016 8.34% 10,034 8.89% 10,075 8.00% 10,800 7.11% 12,290 6.56% 12,382
Index 3

TRUSTMF Overnight
5.70% 10,011 5.67% 10,023 5.70% 10,048 6.48% 10,648 6.39% 12,044 6.10% 12,203
Fund - Dir - Growth
CRISIL Liquid Overnight
5.76% 10,011 5.74% 10,024 5.76% 10,049 6.51% 10,651 6.45% 12,065 6.15% 12,225
Index 1
CRISIL 1 Year T-Bill
8.14% 10,016 8.34% 10,034 8.89% 10,075 8.00% 10,800 7.11% 12,290 6.56% 12,382
Index 3

TRUSTMF Money Market Fund (Inception Date: August 17, 2022)

Period 7 Days 15 Days 30 Days 1 Year Since Inception
Value of Value of Value of Value of
Returns 10,000 Returns 10,000 Returns 10,000 Returns 10,000 Returns Value of 10,000
(%) Invested (%) Invested (%) Invested (%) Invested (%) Invested (INR)
(INR) (INR) (INR) (INR)
TRUSTMF Money
Market Fund - Reg - 7.76% 10,015 8.48% 10,035 7.66% 10,063 7.72% 10,770 7.22% 12,143
Growth
CRISIL Money
7.00% 10,013 7.99% 10,033 7.25% 10,060 7.48% 10,746 7.31% 12,173
Market A-I Index 1
CRISIL 1 Year T-Bill
8.15% 10,016 9.50% 10,039 9.00% 10,074 8.01% 10,799 7.16% 12,126
Index 3

TRUSTMF Money
Market Fund - Dir - 8.06% 10,015 8.79% 10,036 7.97% 10,065 7.95% 10,793 7.40% 12,201
Growth
CRISIL Money Market
7.00% 10,013 7.99% 10,033 7.25% 10,060 7.48% 10,746 7.31% 12,173
A-I Index 1
CRISIL 1 Year T-Bill
8.15% 10,016 9.50% 10,039 9.00% 10,074 8.01% 10,799 7.16% 12,126
Index 3

TRUSTMF Corporate Bond Fund (Inception Date: January 20, 2023)

Period 1 Year Since Inception
Returns (%) Value of 10,000 Invested (INR) Returns (%) Value of 10,000 Invested (INR)
TRUSTMF Corporate Bond Fund - Reg - Growth 9.14% 10,911 7.81% 11,942
CRISIL Corporate Debt A-II Index 1 9.16% 10,914 8.11% 12,019
CRISIL Select AAA Corporate Bond Fund Index 2 8.90% 10,887 7.87% 11,956
CRISIL 10 Year Gilt Index 1 11.75% 11,171 9.94% 12,505

TRUSTMF Corporate Bond Fund - Dir - Growth 9.58% 10,955 8.24% 12,055
CRISIL Corporate Debt A-II Index 1 9.16% 10,914 8.11% 12,019
CRISIL Select AAA Corporate Bond Fund Index 2 8.90% 10,887 7.87% 11,956
CRISIL 10 Year Gilt Index 1 11.75% 11,171 9.94% 12,505

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 11
 Product Suitability Label &
Potential Risk Class Matrix (PRC)

Equity Schemes
TRUSTMF Flexi Cap Fund
(An open-ended dynamic equity scheme investing across large cap, mid cap, small cap stocks.)
Riskometer and Product Suitability Label

This product is suitable for investors who are Scheme Riskometer

Benchmark Riskometer
seeking*: NIFTY 500 TRI
• Long term capital appreciation. Moderate Moderately Moderate Moderately
• Investment in equity and equity related securities of Risk High Risk Risk High Risk
companies across market capitalization. Low to Moderate High Risk Low to Moderate High Risk
Risk Risk
*Investors should consult their financial advisers, if in
doubt about whether the product is suitable for them. Low Risk Very High Low Risk Very High
Risk Risk

The risk of the scheme is very high The risk of the Benchmark is very high

TRUSTMF Small Cap Fund

(An open-ended equity scheme predominantly investing in small cap stocks)
Riskometer and Product Suitability Label

This product is suitable for investors who are Benchmark Riskometer

Scheme Riskometer
seeking*: NIFTY Smallcap 250 TRI
• Long term capital appreciation. Moderate Moderately Moderate Moderately
• Investment predominantly in equity and Risk High Risk Risk High Risk
equity-related instruments of small cap Low to Moderate High Risk Low to Moderate High Risk
Risk Risk
companies.
*Investors should consult their financial advisers, Low Risk Very High Low Risk Very High
Risk Risk
if in doubt about whether the product is suitable
for them.
The risk of the scheme is very high The risk of the Benchmark is very high

Debt Schemes
TRUSTMF Banking & PSU Fund
(An open-ended debt scheme predominantly investing in debt instruments of Banks, Public Sector Undertakings, Public Financial Institutions and
Municipal Bonds. A relatively high interest rate risk and relatively low credit risk.)
Riskometer and Product Suitability Label Potential Risk Class Matrix (PRC)

This product is suitable for Scheme Riskometer Benchmark Riskometer

investors who are seeking*: CRISIL Banking and PSU Debt A-II Index Credit Risk Relatively Moderate Relatively
• Regular income over short to Low
(Class A)
(Class B) High
(Class C)
medium term Moderate Moderately Moderate Moderately Interest Rate
• Investment primarily in debt Risk High Risk Risk High Risk Risk

and money market securities Low to

High Risk
Low to
High Risk
Relatively
Low (Class I)
Moderate Risk Moderate Risk
issued by Banks, PSU, PFI and Moderate
Municipal Bonds Very High Very High
(Class II)
Low Risk Low Risk
*Investors should consult their Risk Risk Relatively
High A-III
financial advisers, if in doubt (Class III)

about whether the product is The risk of the scheme is Moderate The risk of the benchmark is low to moderate
suitable for them.

TRUSTMF Corporate Bond Fund

(An open-ended Debt Scheme predominantly investing in AA+ and above rated corporate bonds.
A relatively high interest rate risk and moderate credit risk.)
Riskometer and Product Suitability Label Potential Risk Class Matrix (PRC)

This product is suitable for

investors who are seeking*: Scheme Riskometer Benchmark Riskometer Credit Risk Relatively Moderate Relatively
CRISIL Corporate Debt A-II Index Low (Class B) High
• Optimal Returns over the (Class A) (Class C)

medium to long term Moderate Moderately Moderate Moderately Interest Rate

Risk
Risk High Risk Risk High Risk
• To invest predominantly in AA+ Low to Low to
Relatively
Low (Class I)
and above rated corporate debt Moderate Risk High Risk Moderate Risk High Risk
Moderate
instruments (Class II)
Very High Very High
Low Risk Relatively
*Investors should consult their Low Risk
Risk Risk High B-III

financial advisers, if in doubt (Class III)

about whether the product is The risk of the scheme is Moderate The risk of the benchmark is low to moderate
suitable for them.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 12
 Product Suitability Label &
Potential Risk Class Matrix (PRC)

TRUSTMF Short Duration Fund

(An open-ended short-term debt scheme investing in instruments such that the Macaulay Duration# of the portfolio is between 1 to 3 years. A moderate
interest rate risk and relatively low credit risk.)
Riskometer and Product Suitability Label Potential Risk Class Matrix (PRC)

This product is suitable for Scheme Riskometer Benchmark Riskometer

investors who are seeking*: CRISIL Short Duration Debt A-II Index Credit Risk Relatively Moderate Relatively
Low (Class B) High
(Class A) (Class C)
• Income over short term Moderate Moderately Moderate Moderately Interest Rate
Risk High Risk Risk High Risk Risk
• Investment in debt & money
Low to Low to Relatively
market instruments with Moderate Risk High Risk Moderate Risk High Risk Low (Class I)

portfolio Macaulay Duration Moderate A-II

between 1 - 3 years Low Risk
Very High
Low Risk
Very High
(Class II)

Risk Risk Relatively

*Investors should consult their High
(Class III)
financial advisers, if in doubt The risk of the scheme is Moderate The risk of the benchmark is low to moderate
about whether the product is
suitable for them.

#
Macaulay duration is the measure of the weighted average time taken to get back the cash flows and is one comprehensive parameter portraying the
risk-return profile of the bond. For further details, please refer to the scheme information document.

TRUSTMF Money Market Fund

(An open-ended debt scheme investing in money market instruments.
A relatively low interest rate risk and moderate credit rate risk.)
Riskometer and Product Suitability Label Potential Risk Class Matrix (PRC)

This product is suitable for

investors who are seeking*: Scheme Riskometer Benchmark Riskometer Credit Risk Relatively Moderate Relatively
CRISIL Money Market A-I Index Low (Class B) High
• Income over short term (Class A) (Class C)

Interest Rate
Moderate Moderately Moderate Moderately
• Investment in money market Risk High Risk Risk High Risk
Risk

instruments Low to Low to

Relatively
Low (Class I)
B-I
High Risk Moderate Risk High Risk
Moderate Risk
*Investors should consult their Moderate
(Class II)
financial advisers, if in doubt Very High Low Risk
Very High Relatively
Low Risk Risk
about whether the product is Risk High
(Class III)
suitable for them.
The risk of the scheme is low to moderate The risk of the benchmark is low to moderate

TRUSTMF Liquid Fund

(An open-ended liquid scheme.
A relatively low interest rate risk and relatively low credit risk.)
Riskometer and Product Suitability Label Potential Risk Class Matrix (PRC)

This product is suitable for

investors who are seeking*: Scheme Riskometer Benchmark Riskometer Credit Risk Relatively Moderate Relatively
CRISIL Liquid Debt A-I Index Low (Class B) High
• Income over short term (Class A) (Class C)

Interest Rate
Moderate Moderately Moderate Moderately
• Investment in debt and money Risk High Risk Risk High Risk
Risk

market instruments Low to Low to

Relatively
Low (Class I)
A-I
High Risk Moderate Risk High Risk
Moderate Risk
*Investors should consult their Moderate
(Class II)
financial advisers, if in doubt Very High Low Risk
Very High Relatively
Low Risk Risk
about whether the product is Risk High
(Class III)
suitable for them.
The risk of the scheme is low to moderate The risk of the benchmark is low to moderate

TRUSTMF Overnight Fund

(An open-ended debt scheme investing in overnight securities.
A relatively low interest rate risk and relatively low credit risk.)
Riskometer and Product Suitability Label Potential Risk Class Matrix (PRC)

This product is suitable for

investors who are seeking*: Scheme Riskometer Benchmark Riskometer Credit Risk Relatively Moderate Relatively
CRISIL Liquid Overnight Index Low (Class B) High
• Regular income over short (Class A) (Class C)

term that may be in line with Moderate Moderately Moderate Moderately Interest Rate
Risk
overnight call rates with low risk Risk High Risk Risk High Risk
Relatively
and high level of liquidity. Low to Low to
High Risk
Low (Class I)
A-I

Moderate Risk High Risk Moderate Risk

Moderate
• Investment in debt and money (Class II)
Very High
market instruments with Low Risk
Very High Low Risk
Risk
Relatively
Risk High
overnight maturity. (Class III)

*Investors should consult their The risk of the scheme is low The risk of the benchmark is low
financial advisers, if in doubt
about whether the product is
suitable for them.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 13