Please calculate the TEPF and, where appropriate, the benchmark, calculate and comment on a. Active return b. Standard deviation c. Simple Benchmark d. Sharpe ratio e. Treynor ratio f. Jensens alpha g. M2 Measure

h. Contribution from asset allocation security selection

: we need to split the outperformance of the managed fund into two effects - asset allocation and security selection. However, we need weights of the benchmark portfolio in order to calculate the asset allocation effect (calculate the return of the whole benchmark portfolio to calculate outperformance without matching)

: calculate the asset allocation effect from the case without the benchmark weights

: (RP - RB) = asset allocation + security selection or asset allocation = (RP - RB) - security selection effect (calculate both the asset allocation and security selection effect)

\begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|l|}{ Exhibit 1} \\ \hline & Sep-2017 & Sep-2016 & Sep-2015 & Sep-2014 & Sep-2013 \\ \hline Debt & 312.75 & 237.95 & 177.48 & 126.82 & 92.56 \\ \hline FMPs & 7.56 & 7.01 & 6.41 & 16.61 & 0 \\ \hline Gilts & 3.49 & 3.4 & 3.15 & 1.65 & 1.85 \\ \hline Income & 79.2 & 72.27 & 54.12 & 21.25 & 19.71 \\ \hline Liquid & 22.5 & 155.27 & 113.8 & 87.31 & 70.99 \\ \hline Equity & 77.6 & 57.68 & 47.52 & 41.49 & 32.92 \\ \hline Diversified & 54.99 & 41.07 & 35.27 & 23.66 & 17.49 \\ \hline Large-cap & 28.86 & 16.56 & 15.4 & 13.2 & 10.32 \\ \hline Mid-cap & 6.41 & 5.79 & 5.46 & 3.1 & 1.75 \\ \hline Multi-cap & 19.71 & 18.73 & 14.41 & 7.36 & 5.42 \\ \hline Others (active) & 22.46 & 16.46 & 12.08 & 17.71 & 15.32 \\ \hline Index & 0.16 & 0.14 & 0.17 & 0.12 & 0.1 \\ \hline Hybrid & 68.92 & 72.04 & 51.11 & 14.76 & 9.22 \\ \hline Equity-oriented & 65.01 & 68.6 & 47.68 & 11.85 & 6.23 \\ \hline Debt-oriented & 3.91 & 3.44 & 3.43 & 2.91 & 2.99 \\ \hline Others & 2.02 & 1.61 & 1.21 & 0.8 & 0.59 \\ \hline Total & 461.3 & 369.29 & 277.32 & 183.88 & 135.29 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline Exhibit 2 & Sep-2017 & Sep-2016 & Sep-2015 & Sep-2014 & Sep-2013 \\ \hline AUM & 18.15 & 6.58 & 6.02 & 5.14 & 3.79 \\ \hline NAV & 131.8 & 103.37 & 83.9 & 77.14 & 44.13 \\ \hline Fund (growth option) return (\%) & 27.51 & 23.21 & 8.77 & 74.77 & -8.15 \\ \hline Benchmark (total return index) returns (\%) & 15.11 & 9.77 & 0.87 & 51 & 1.82 \\ \hline Rank within large-cap funds & 3 & 2 & 29 & 2 & 51 \\ \hline Total number of funds in category & 62 & 65 & 63 & 61 & 62 \\ \hline Exhibit 3 & Fund & Benchmark & & & \\ \hline Average market cap of constituents (billion) & 644.83 & 2731.71 & & & \\ \hline Giant (\%) & 46.26 & 88.34 & & & \\ \hline Large (\%) & 29.24 & 11.66 & & & \\ \hline Mid (\%) & 22.64 & - & & & \\ \hline Small (\%) & 1.87 & - & & & \\ \hline Exhibit 4 & Regular plan & Direct plan & & & \\ \hline NAV, growth option (billion) & 131.7969 & 135.8717 & & & \\ \hline NAV, dividend option (billion) & 60.2378 & 61.0523 & & & \\ \hline Expense ratio (\%) & 2.53 & 1.55 & & & \\ \hline Launch date & Jun 29, 2024 & & & & \\ \hline Benchmark & \multicolumn{2}{|c|}{ S\&P BSE SENSEX } & & & \\ \hline Type & Open ended & & & & \\ \hline Turnover ratio (\%) & 36 & & & & \\ \hline Exit loads & \multicolumn{3}{|c|}{1% for redemption within 540 days of investment } & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Exhibit 6 & Sep-17 & Aug-17 & Jul-17 & Jun-17 & May-17 & Apr-17 & Mar-17 & Feb-17 & Jan-17 & Dec-16 & Nov-16 & Oct-16 \\ \hline Fund returns BSE SENSEX & 0.011 & 0.008 & 0.054 & 0.002 & -0.0015 & 0.06 & 0.046 & 0.048 & 0.058 & -0.008 & -0.042 & 0.03 \\ \hline TRI returns & -0.013 & -0.015 & 0.061 & -0.007 & 0.035 & 0.014 & 0.035 & 0.038 & 0.046 & -0.005 & -0.046 & 0.003 \\ \hline Expense ratio & 2.508 & & & & & & & & & & & \\ \hline Risk-free rate & 0.066 & & & & & & & & & & & \\ \hline Beta & 1.01 & & & & & & & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|l|}{ Exhibit 1} \\ \hline & Sep-2017 & Sep-2016 & Sep-2015 & Sep-2014 & Sep-2013 \\ \hline Debt & 312.75 & 237.95 & 177.48 & 126.82 & 92.56 \\ \hline FMPs & 7.56 & 7.01 & 6.41 & 16.61 & 0 \\ \hline Gilts & 3.49 & 3.4 & 3.15 & 1.65 & 1.85 \\ \hline Income & 79.2 & 72.27 & 54.12 & 21.25 & 19.71 \\ \hline Liquid & 22.5 & 155.27 & 113.8 & 87.31 & 70.99 \\ \hline Equity & 77.6 & 57.68 & 47.52 & 41.49 & 32.92 \\ \hline Diversified & 54.99 & 41.07 & 35.27 & 23.66 & 17.49 \\ \hline Large-cap & 28.86 & 16.56 & 15.4 & 13.2 & 10.32 \\ \hline Mid-cap & 6.41 & 5.79 & 5.46 & 3.1 & 1.75 \\ \hline Multi-cap & 19.71 & 18.73 & 14.41 & 7.36 & 5.42 \\ \hline Others (active) & 22.46 & 16.46 & 12.08 & 17.71 & 15.32 \\ \hline Index & 0.16 & 0.14 & 0.17 & 0.12 & 0.1 \\ \hline Hybrid & 68.92 & 72.04 & 51.11 & 14.76 & 9.22 \\ \hline Equity-oriented & 65.01 & 68.6 & 47.68 & 11.85 & 6.23 \\ \hline Debt-oriented & 3.91 & 3.44 & 3.43 & 2.91 & 2.99 \\ \hline Others & 2.02 & 1.61 & 1.21 & 0.8 & 0.59 \\ \hline Total & 461.3 & 369.29 & 277.32 & 183.88 & 135.29 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline Exhibit 2 & Sep-2017 & Sep-2016 & Sep-2015 & Sep-2014 & Sep-2013 \\ \hline AUM & 18.15 & 6.58 & 6.02 & 5.14 & 3.79 \\ \hline NAV & 131.8 & 103.37 & 83.9 & 77.14 & 44.13 \\ \hline Fund (growth option) return (\%) & 27.51 & 23.21 & 8.77 & 74.77 & -8.15 \\ \hline Benchmark (total return index) returns (\%) & 15.11 & 9.77 & 0.87 & 51 & 1.82 \\ \hline Rank within large-cap funds & 3 & 2 & 29 & 2 & 51 \\ \hline Total number of funds in category & 62 & 65 & 63 & 61 & 62 \\ \hline Exhibit 3 & Fund & Benchmark & & & \\ \hline Average market cap of constituents (billion) & 644.83 & 2731.71 & & & \\ \hline Giant (\%) & 46.26 & 88.34 & & & \\ \hline Large (\%) & 29.24 & 11.66 & & & \\ \hline Mid (\%) & 22.64 & - & & & \\ \hline Small (\%) & 1.87 & - & & & \\ \hline Exhibit 4 & Regular plan & Direct plan & & & \\ \hline NAV, growth option (billion) & 131.7969 & 135.8717 & & & \\ \hline NAV, dividend option (billion) & 60.2378 & 61.0523 & & & \\ \hline Expense ratio (\%) & 2.53 & 1.55 & & & \\ \hline Launch date & Jun 29, 2024 & & & & \\ \hline Benchmark & \multicolumn{2}{|c|}{ S\&P BSE SENSEX } & & & \\ \hline Type & Open ended & & & & \\ \hline Turnover ratio (\%) & 36 & & & & \\ \hline Exit loads & \multicolumn{3}{|c|}{1% for redemption within 540 days of investment } & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Exhibit 6 & Sep-17 & Aug-17 & Jul-17 & Jun-17 & May-17 & Apr-17 & Mar-17 & Feb-17 & Jan-17 & Dec-16 & Nov-16 & Oct-16 \\ \hline Fund returns BSE SENSEX & 0.011 & 0.008 & 0.054 & 0.002 & -0.0015 & 0.06 & 0.046 & 0.048 & 0.058 & -0.008 & -0.042 & 0.03 \\ \hline TRI returns & -0.013 & -0.015 & 0.061 & -0.007 & 0.035 & 0.014 & 0.035 & 0.038 & 0.046 & -0.005 & -0.046 & 0.003 \\ \hline Expense ratio & 2.508 & & & & & & & & & & & \\ \hline Risk-free rate & 0.066 & & & & & & & & & & & \\ \hline Beta & 1.01 & & & & & & & & & & & \\ \hline \end{tabular}