As on September 30, 2019

Invesco India R.I.S.E Portfolio

(R.I.S.E. : R - Recovery in Demand, I - Idle Capacity-potential for operating leverage,
S - Superior Business Model, E - Earnings Recovery)

Investment Objective Investment Strategy

To generate capital appreciation by investing in
equity and equity related securities.
▪ Investments in companies which are expected to benefit from operating & financial leverage.
▪ Exposure to companies which benefit from revival in economic growth & rise in consumer discretionary
spending.
▪ Participate in companies with strong business model, suppressed valuations & higher dividend yield.
▪ Bottom-up stock picking, High conviction portfolio

Key Facts Indexed Performance (In ₹ Lacs)

Portfolio Benchmark
55
Portfolio Manager & Experience
Mr. Amit Nigam
Total Experience: 17 yrs. 45
Managing this portfolio since May 16, 2018
37.21
Benchmark Index 35
S&P BSE 500 35.66

Inception Date 25
April 18, 2016

Performance Attributes 15
Standard Deviation: 5.43% Apr-16 Aug-16 Dec-16 Apr-17 Aug-17 Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19
Beta: 1.19 Values rebased to ₹ 25 Lacs, Since April 18, 2016
Sharpe Ratio: 0.08 Cumulative Performance
Based on 3 yrs., monthly data points (Risk-free rate of
5.52% based on Overnight MIBOR)
In % 1 mth 3 mths 6 mths 1 year 2 yrs. 3 yrs. 5 yrs. 7 yrs. 10 yrs. Since Inc.
Portfolio 3.12 -5.35 -10.18 -7.77 -2.66 9.20 N.A. N.A. N.A. 12.21
Market Capitalization
Large Cap: 23.52% Benchmark 4.05 -3.15 -3.23 2.52 4.32 8.18 N.A. N.A. N.A. 10.84
Mid Cap: 34.17% Since Inc.: Since Inception. N.A.: Not Applicable.
Small Cap: 33.46%
Calendar Year Performance
Average Weighted
₹ 77,157 crs. In % YTD 2018 2017 2016 2015 2014 2013 2012 2011 2010
Market Capitalization:
Median Market Portfolio -9.39 -14.76 74.80 10.29^ N.A. N.A. N.A. N.A. N.A. N.A.
₹ 12,237 crs.
Capitalization:
Benchmark 1.85 -3.08 35.94 6.30^ N.A. N.A. N.A. N.A. N.A. N.A.
Source: Bloomberg, Internal
Past performance may or may not be sustained in future. The data given above is for model portfolio. Returns up to 1 year
Portfolio Fundamentals are absolute & over 1 year are Compounded Annualized. The returns are calculated on the basis of daily market value of the
Portfolio. ^ From April 18, 2016.
Dividend Yield1 0.46%
Price to Earnings1 FY 19 22.18 Portfolio Holdings Sector Allocation
Price to Earnings1 FY 20 Estimate 19.23 Holding % of Net Assets Sector % of Net Assets
Price to Earnings1 FY 21 Estimate 15.74 Apollo Hospitals Enterprises Ltd. 8.09 Consumer Discretionary 22.86
2 Year EPS CAGR (FY19-FY21)2 17.26% Reliance Industries Ltd. 7.68 HealthCare 18.72
Return on Assets1 FY 20 Estimate 5.17% Gujarat State Petronet Ltd. 6.92 Financials 11.78
Return on Equity1 FY 20 Estimate 14.46% Torrent Pharmaceuticals Ltd. 6.40 Industrials 9.31
Source: Factset, Internal. AIA Engineering Ltd. 6.22 Materials 7.87
1. Weighted Harmonic Mean. 2. EPS Growth is derived
from P/E ratios. Note: Excludes companies with net VIP Industries Ltd. 6.16 Energy 7.68
loss for appropriate results for various ratios. EPS: Motherson Sumi Systems Ltd. 5.21 Utilities 6.92
Earnings per share.
Dixon Technologies India Ltd. 4.78 Consumer Staples 3.20
Theme Split Shriram Transport Finance Co. Ltd. 4.34 Communication Services 2.81
Theme % of Net Assets Mahindra & Mahindra Fin Services Ltd. 4.30 Cash & Cash Equivalent 8.84
Operating Leverage 39.75 Aditya Birla Fashion & Retail Ltd. 4.30
Operating & Financial Leverage 36.37 Cipla Ltd. 4.24 Returns Attributors/ Detractors for September 2019
Value 8.64 Top 3 Attributors
Ratnamani Metals & Tubes Ltd. 4.03
Financial Leverage 6.40 APL Apollo Tubes Ltd. 3.83 AIA Engineering Ltd.
Note: Operating Leverage: Companies currently Parag Milk Foods Ltd. 3.20 VIP Industries Ltd.
operating with low capacity utilization and having large Reliance Industries Ltd.
portion of costs fixed in nature. These companies can Equitas Holdings Ltd. 3.14
make more money from additional sale as demand Mahindra Logistics Ltd. 3.09
recovers. Financial Leverage: Companies which can Top 3 Detractors
generate returns greater than the interest expense Music Broadcast Ltd. 2.81
associated with the debt they use to fund growth. Further, Apollo Hospitals Enterprises Ltd.
Orient Electric Ltd. 2.41
these companies could increase their profit margin from Equitas Holdings Ltd.
decline in interest rates and reduction in debt in wake of Total Equity Exposure 91.16
profit growth. Value: Value investing seeks to purchase
Cipla Ltd.
stocks at an even greater discount to their intrinsic value.

Large Cap:1st 100th company in terms of full market capitalization. Mid Cap:101 st to 250th company in terms of full market capitalization. Small Cap:251 st company onwards in terms of full
market capitalization. All data provided above is for model portfolio. The returns of model portfolio given above are for illustration purpose only. Model portfolio returns does not take into account
expenses/charges and Profit/Loss on account of derivative transactions. Returns under client wise portfolio may vary vis‐à‐vis returns of model portfolio due to various factors viz. timing of
investment/additional investment in client’s portfolio, timing of withdrawals in client’s portfolio, mandates given by respective client, profit/loss on account of derivative transactions, expenses
charged to respective portfolio, dividend income in the respective portfolio etc. The stocks referred above should not be construed as recommendations from Invesco Asset Management (India)
Private Ltd. (“IAMI” / “Portfolio Manager”). The Portfolio may or may not have any present or future positions in these stocks or in any other portfolios offered by IAMI. The performance of
above stocks should not be construed as performance of the portfolio as the portfolio would be constituted of number of stocks having different weights and the individual stock held by the
portfolio may or may not give positive returns. Disclaimer: The Portfolio manager does not offer guaranteed or assured returns. Securities investments are subject to market risks, please
read the Disclosure Document carefully before investing. Invesco Asset Management (India) Private Ltd. - Portfolio Manager – Registration No. PM/INP000005273