Edelweiss Fund Insight: March 2010

Mid-cap funds: Cash balances drift downCash balances with mid-cap funds reduced by ~INR 1bn over the previous month.Reduction in absolute cash balances is for the first timein the past three months.Cash balance of ~INR 13.70 bn accounts for ~8.4% ofthe mid-cap corpus of INR 162 bn .INR bn201612Absolute cash balances and percentage cash242119 17 12181298111597871289(%)86Mar-09Apr-09May-09Jun-09Jul-09Aug-09Sep-09Oct-09Nov-09Dec-09Jan-10Feb-10Absolute Cash% CashMid-cap funds currently hold 8.4% of its corpus in cash compared with the past one-year average of 10.60%.AUM Cash & EquivalentScheme(INR bn) Feb-10 Jan-10Reliance Growth-Ret 68 10% 12%Sundaram BNPP Select Midcap 19 6% 5%Birla SL Midcap-A 14 10% 14%IDFC Premier Equity-A 14 9% 7%Note: Mid-cap fund universe comprises 21 equity schemes (growth option)14