Decoding the Union Budget 2022 and its Impact on Your Investments

1
Decoding the Union Budget 2022 and its Impact on
Your Investments
Speakers Arvind Chari, CIO, Quantum Advisors
Nilesh Shetty, Fund Manager, Equity Chirag Mehta,
Senior Fund Manager, Alternative
Investments February 4, 2022
1
2
Indian GDP growth peaked in 2011 and has since
been a downhill
India GDP growth (yoy)
20 15 10 5 0
Real GDP
Nominal GDP
Source Mospi.nic.in CMIE, Annual Data till
March 2020
3
Modi sheds his fiscal conservatism
Fiscal Deficit as a of GDP
16.0
14.0
Centre
State
12.0 10.0 8.0 6.0 4.0 2.0 - FY 06 Fy 07 FY 08FY
09FY 10FY 11FY 12FY 13FY 14FY 15FY 16FY 17FY 18FY
19FY 20FY 21FY 22FY 23FY 24FY 25FY
26 BE QE QE QE (Source Indiaudget.gov.in)
4
Government prioritizes capital expenditure
Central Govt Capex
Capex by PSUs
Total INR TLN
14 12 10 8 6 4 2 0
FY 17
FY 18
FY 19
FY 20
FY 21
FY 22
FY 23
(Source Indiaudget.gov.in)
5
Spending on Rural and Agriculture falls as
economy recovers
INR BN FY 19 FY 20 FY 21 FY 22 RE FY 23 BE
Food Subsidy 1013 1087 5413 2865 2068
Fertiliser subsidy 706 811 1279 1401 1052
PM Kisan 12 487 610 675 680
MNREGA 618 730 1112 980 730
Rural Roads 154 140 137 140 190
Road Works 378 463 531 657 646
Rural Water 55 100 110 450 600
NHAI 393 317 461 651 1340
PM Awas Yojana 254 250 403 474 480
(Source Indiaudget.gov.in)
6
Governments disinvestment, privatization plan
falters
7
India needs an income, demand and sentiment boost
Consumer Sentiments
Employment Levels
140
120
120
100
100
80
80
60
60
40
40
20
20
0
0
Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19
Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21
Jan-22
Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19
Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21
Jan-22
Total Salaried
Self Employed Wage Labourer
Urban Rural (Source CMIE consumer pyramid survey)
All India
8
India needs investments but it also needs a
consumption support
Private Consumption Expenditure GVA - Trade,
hotels, transport communication
Investments as a of GDP Private Corporate
Capex Household Capex
25.0 23.0 21.0 19.0 17.0 15.0 13.0 11.0 9.
0 7.0 5.0
120
100
80
60
40
2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 20
08-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014
-15 2015-16 2016-17 2017-18 2018-19 2019-20
Source MOSPI, CMIIE, Annual Data till March 2020
9
India Is An Attractive Destination For Long-term
Investors
But Only Shake Hands With Management When You
Know Youll Get 5 Fingers Back!
Indian Equity Indian Equity
GDP, real 6.5
Inflation 5.0
GDP, nominal 11.5
If GDP Revenues (Revenues of Typical Companies) 11.5
Profit Growth of Typical Companies 11.5
Companies, listed and in an Index gt Typical Company 13.5
An Intelligent Portfolio 15.0
FX, INR 73-78 -2
Source Quantum AMC The numbers in the above
table are based on the assumptions and estimates
made by QAMC.. An intelligent portfolio
mentioned above refers to a portfolio constructed
by an investment manager following an active
approach to investing with an appropriate
research and investment process in selecting
stocks. These growth rates or indicative rates of
return may or may not be achieved. Past
performance does not guarantee future results and
future performance may be lower or higher than
the data given above.
10
Diversify your investments with our easy
12-20-80 Asset Allocation Strategy
12 Months Expense
20 Gold
80 Equity
Please note the above is a suggested fund
allocation and not to be considered as an
investment advice or recommendation
10
11
Pre-investment Block - Emergency Corpus (Liquid)
12 Months Expense
20 Gold 80 Equity Play Money Please note the
above is a suggested fund allocation and not to
be considered as an investment advice or
recommendation
11
12
Policy Normalisation gt Rate Hikes gt Higher
Short-Term Rate gt Improved Outlook for Liquid
Funds
QLF Portfolio Yield
3 months Tbill
12 10 8 6 4 2 2010 2011 2012 2013
2014 2015 2016 2017 2018 2019 2020 2021 2022 Sourc
e Bloomberg, Quantum Research, Data upto January
2022 The above graph needs to be read in
conjunction with scheme performance provided on
slide no 45 46
13
Our Recommendation 12 months Emergency Money

• Quantum Liquid Fund Safety First
• ALWAYS Prioritize Safety over Returns
• Zero Private Corporate Debt
• Invests only in Government Securities, Treasury
  Bill or AAA rated PSUs/PFIs
• Low Credit Risk Low Liquidity Risk
• A reasonable portion of portfolio in cash or
  overnight asset

14
High Fiscal Deficit and no demand support spooks
bond markets
3 Year Gsec
10 Year Gsec
7 6.5 6 5.5 5 4.5 4
Source Refinitiv, Quantum Research, Data as of 1
February 2022
15
Yield Curve is steepest in a decade but Oil
prices and high fiscal deficit complicates matter
India Sovereign Yield Curve
8 7.5 7 6.5 6 5.5 5 4.5 4 3.5
YIELD TO MATURITY ()
1Y 2Y 3Y 4Y 5Y 6Y 7Y 1-Feb-22
8Y 9Y 10Y 11Y 12Y 13Y 14Y 15Y 19Y 24Y
30Y 28-Feb-20
3M 6M
Source Refinitiv, Quantum Research, Data as of 1
February 2022 Past performance may or may not
sustained in future
16
Earning Block (Equity) 80
12 Months Expense
20 Gold
80 Equity
Play Money
Please note the above is a suggested fund
allocation and not to be considered as an
investment advice or recommendation
16
17
17
Corporate Profits Poised for Sustained Takeoff
Past performance may or may not be sustained in
the future.
Source CMIE- Economic Outlook, Data as of Sep
2021
18
Budget 2022- Accelerated Government Spending
18

• Positives
• Strong Surge in Government Capex (24) to keep
  economic momentum going
• Cyclicals will thrive as GDP growth rate gets
  back to long term average (think
• 2003-2008)
• Concerns
• Cut in Agri spends may impact near term demand
  from Rural India
• No mention of MSME and Rising Inflation

19
Economic Tailwinds- Real Estate Revival
19
20
Economic Tailwinds- Hiring in Information
technology
20
Net Hires for Six Large IT Cos
1,45,000
1,25,000 1,05,000 85,000 65,000 45,000 2
5,000 5,000 -15,000
Net Hires for Infosys TCS Wipro Tech Mahindra
Accenture Cap Gemini Source Company
Financials, Data as of Sep 2021
21
21
Actual Earnings May Continue to Surprise Consensus
Past performance may or may not be sustained in
the future.
Past performance may or may not be sustained in
the future. Source Bloomberg Finance L.P. as of
January 31, 2022
22
Portfolio Positioned For An Economic Revival
22
Sector MSCI India January 2022 SP BSE-30 Index January 2022 QLTEVF January 2022 QLTEVF December 2021 QLTEVF December 2020 QLTEVF December 2019 QLTEVF December 2018 QLTEVF December 2017 QLTEVF December 2016
Communication Services 3 3 0 0 0 0 0 0 2
Consumer Disc. 8 5 16 16 16 19 20 25 24
Consumer Staples 8 7 0 0 0 0 0 0 0
Energy Pa1s2t per fo1r3m anc e m2ay o r m2ay no t be2sust ain2ed in the3futur e. 3 10
Financials 25 40 30 29 28 29 27 14 16
Healthcare 5 2 5 5 6 5 5 6 3
Industrials 5 3 2 2 2 0 2 1 3
Materials 10 5 10 10 10 8 8 4 6
Real Estate 1 0 0 0 0 0 0 0 0
Technology 18 20 16 18 17 16 16 15 14
Utilities 5 2 10 9 9 11 12 14 13
Cash Equiv. 0 0 9 9 10 10 7 18 9
Total 100 100 100 100 100 100 100 100 100
No. of Securities 106 30 28 28 29 26 25 21 24
Data as of January 2022. Past performance may or
may not be sustained in the future.
23
Portfolio To Withstand Interest Rate Volatility
23
Break up Of Portfolio No of stocks
Financials 7
Companies which are Net Cash 13
Companies which have Net Debt to Equity lt0.4 6
Electric Utilities- Net Debt to Equity 1.5x (regulatory requirement to have higher debt) 2
Total 28
Portfolio as on January 2022. Source Quantum
AMC, Estimates For FY22
24
Spiking PER Overstates Valuation As Pandemic
Related Lockdowns Suppressed Earnings
24
Past performance may or may not be sustained in
the future.
Source Bloomberg Finance L.P., as of January 31,
2022
25
QLTEVF Portfolio Valuations At A 34 Discount To
The Index On T12M And 33 Less Expensive On FY23e
25
QLTEVF As of SP BSE-30 Index SP BSE-30 Index
Analysts views expressed FY2023 473 71 663
Analysts views expressed FY2024 386 68 568
Number of Stocks 28 93 30
Median market cap. (USD mn) 12,020 33 36,143
Wtd. dividend yield 1.82 159 1.15
Historical PER of portfolio (T12M) 21.1 66 32.2
Wt of stocks with PER lt 20, historical 35 381 9
Wt of stocks with PER gt 20, historical 65 71 91
Wt of stocks with PER gt 30, historical 27 49 56
ESTIMATES FOR FY2023
Analysts polled 473 71 663
Wtd. PER March 2023E 14.0 67 21.1
Wtd. EPS Growth March 2023E 25.8 105 24.5
PEG Ratio (excludes cash) 2023E 0.5 63 0.9
ESTIMATES FOR FY2024
Analysts polled 386 68 568
Wtd. PER March 2024E 12.6 70 18.0
Wtd. EPS Growth March 2024E 11.1 62 17.8
PEG Ratio (excludes cash) 2024E 1.1 113 1.0
Source Quantum Research, Data as of January 31,
2022 QLTEVF cash weight excluded. SP BSE-30
Index weight is based on free float. The figures
mentioned in WTD PER, WTD EPS and PEG ratio are
calculated on the basis of Bloomberg consensus
estimates for companies owned by the Fund as well
as the companies in the SP BSE 30. The
Fundamental Characteristics, both for portfolio
as well as the benchmark, have been computed
using the Aggregation Methodology.
26
Time for Value Over Growth?
26
27
Govt capex push to benefit Materials and
Industrials
- Investment led economic growth will drive
consumption over time
27

• The outlay for public capital expenditure has
  been stepped up sharply by 35 from Rs 5.50 lakh
  crores to Rs
• 7.50 lakh crores
• The Finance Ministers big infra push projects
• PM Gati Shakti National Master Plan
• Highway expansion by 25,000 km
• Rs 60,000 crore on Nal se Jal scheme
• Five river link projects across various states
• Rs 48,000 crore on PM housing scheme
• North-East infrastructure development
• Quantum View The increase in outlay for capital
  expenditure and emphasis on Infrastructure
  development may provide the much-needed impetus
  to Materials, Industrials, Metals and related
  sectors

28
Quantum Equity Fund of Funds well positioned to
benefit from capex
and resulting consumption from high economic
growth
28
Sector BSE 200 Index Quantum Equity Fund of Funds
Communication Services 2.9 2.1
Consumer Discretionary 7.5 11.5
Consumer Staples 7.9 5.0
Energy 9.9 4.2
Financials 30.7 26.4
Health Care 5.4 7.7
Industrials 6.2 11.3
Information Technology 15.4 13.4
Materials 9.5 9.4
Real Estate 0.7 0.2
Utilities 4.0 2.0
Cash 0.0 6.7

Total 100.0 100.0
Data as of December 2021. Sector related
disclaimer - Sectors referred above are not
recommendation of Quantum Mutual Fund/AMC. The
Fund may or may not have any present or future
positions in these Sectors. The above
information of Sectors which is already available
in publicly access media for information and
illustrative purpose only and not an endorsement
/ views / opinion of Quantum Mutual Fund /AMC.
The above information should not be constructed
as research report or recommendation to buy or
sell of any stocks from any Sector. Past
Performance may or may not be sustained in future.
29
Green Economy Hits
29
Budget Initiative View Rationale
Green Clearances Positive less Bureaucracy
Clean Sustainable Mobility Positive Greenification of mass transport
Battery Swapping Policy Positive Big EV push if formulated correctly
Solar PLI Positive Reduce dependence on imports
Circular Economy Positive Regulations needed to push the industry
Transition to Carbon Neutral Economy Positive Policy measures for energy efficiency in commercial buildings and promoting agro forestry Emission reduction Pilot projects to evaluate viability
Sustainable Financing Positive Green bonds / Blended Finance can help raise low-cost finance for climate goals
30
Green Economy Misses
30
Key Initiatives Missed Rationale
Investment / Tax incentives on Green Investments India climate targets require billions of dollars each year to be able to meet the ambitious pledges it has committed to at the global stage. The present fiscal and taxation structure does not provide the right signals to direct investment to the green sectors. Incentives to attract long term capital along with the right taxation structure to provide the right signals to direct investment to the green sectors would have really helped
RD incentives Incentives towards green tech RD and an earmarked amount towards research from the PLI schemes would encourage green tech development and help India leap frog towards its climate goals. The existing grants given to start-ups should also contain a specific allocation for green technologies
Carbon tax / Reward The government should involve India Inc in its climate agenda and provide a supportive regulatory roadmap to match the ongoing efforts by the industry players, who have taken many key initiatives to cut the carbon footprint on their own.

• Quantum View
• Though there was a clear thrust on intention to
  grow sustainably, it has missed on some important
  measures.
• This was our opportunity to send out a strong
  signal to the global investor community that
  India is ready to take a big leap in our climate
  efforts.

31
ESG Not enough spending, nor much incentives
31

• Quantum View
• Green / Clean projects are long gestation
  projects
• We are losing time to meet our ambitious climate
  goals by 2030.
• There will arise a need to put regulatory
  mandates to meet the climate commitments.
• Corporates who are ahead of the curve with
  respect to their ESG practices will benefit

32
Quantum India ESG Fund well positioned to
benefit from capex, thrust on sustainability and
resulting consumption from high economic growth
32
Sector MSCI AC World December 2021 MSCI India Dec 2021 SP BSE-30 Index December 2021 QIESG July 2019 QIESG Dec 2020 QIESG January 2022
Communication Services 8 3 3 2 3 4
Consumer Disc. 12 8.3 4 16 14 15
Consumer Staples 7 8 7 9 14 13
Energy 3 11 12 3 1 0
Financials 14 24 39 14 17 14
Healthcare 12 5 2 1 3 3
Industrials 10 5 4 6 5 6
Materials 5 10 5 15 19 15
Real Estate 3 0.7 0 0 0 0
Technology 23 20 22 11 16 21
Utilities 3 5 2 6 4 4
Cash Equiv. 0 0 0 17 4 5
Total 100 100 100 100 100 100
No. of Securities 2,966 106 30 44 45 45
Data as of January 2022. Past performance may or
may not sustained in future
33
Portfolio Diversifying Block (Gold)
12 Months Expense
20 Gold 80 Equity Play Money Please note the
above is a suggested fund allocation and not to
be considered as an investment advice or
recommendation
33
34
Gold Hits Misses
34
Budget initiative View Rationale
No reduction in gold duty Negative High customs duty has caused a 14 differential between the Indian gold prices and international gold price (10.75 customs duty Cess Social welfare surcharge 3 GST) This continues to cause price distortions and inefficiencies in the domestic gold market.
Customs duty on cut and polished diamonds and gemstones is being reduced to 5 from 7.5 Positive This will give a boost to the Gems and Jewelry sector
Capital expenditure for FY23 is pegged at Rs 7.5 lakh crore up from 5.5 lakh crore in FY22 Positive Could have an inflationary impact in the near term, supporting demand for gold
Tax on cryptocurrency introduced at 30, TDS at 1 on every transaction Positive Negative The tax is higher than capital gains on any other class of assets and will make trading in golds perceived substitute - cryptocurrency less profitable No official ban on crypto assets could divert some flows out of gold

• Quantum View
• While cryptocurrencies are being compared to
  gold, they lack intrinsic value
• Correlation to risk assets makes them ineffective
  as a portfolio diversifier, unlike gold
• They are prone to extreme volatility making them
  unsuitable for retail investors
• Gold is a proven store of value
• Maintain 10-15 allocation to gold given that
  risks like inflation and market pullbacks are
  lurking

35
Using mutual funds for asset allocation
35
36
Quantums Suggested Asset Allocation Strategy
12 Months Expense
20 Gold
80 Equity
Play Money
36
Please note the above is a suggested fund
allocation and not to be considered as an
investment advice or recommendation
37
Diversify with 12-80-20 in just a few clicks
This is for illustrative purpose only.
Please note the above is a suggested fund
allocation and not to be considered as an
investment advice or recommendation
37
38
Diversify with 12-80-20 in just a few clicks
This is for illustrative purpose only.
38
39
Performance of Quantum Long Term Equity Value
Fund
Direct Plan Growth Option
The Scheme is co-managed by Mr. Sorbh Gupta and
Mr. Nilesh Shetty. Mr. Sorbh Gupta is the Fund
Manager effective from December 1, 2020. Mr.
Nilesh Shetty is the Fund Manager effective from
March 28, 2011.
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 - Benchmark Tier 2 - Benchmark Additional Benchmark Tier 1 - Benchmark Tier 2 - Benchmark Additional Benchmark
Period Scheme SP BSE SP BSE SP BSE Scheme SP BSE SP BSE SP BSE
Period Returns () 500 TRI 200 TRI Sensex TRI (Rs) 500 TRI 200 TRI Sensex TRI
Period () () () (Rs) (Rs) (Rs)
1 year 25.30 33.26 31.10 26.45 12,546 13,347 13,129 12,662
3 years 13.47 19.85 19.32 18.26 14,614 17,222 16,995 16,546
5 years 10.67 16.68 16.67 17.33 16,606 21,637 21,625 22,246
7 years 10.26 12.49 12.32 11.69 19,830 22,815 22,572 21,697
10 years 13.73 15.25 15.15 14.45 36,258 41,395 41,038 38,620
Since Inception (13th Mar 2006) 13.71 12.73 12.82 12.67 77,120 67,245 68,287 66,621
Past performance may or may not be sustained in
the future. Data as of 31st January 2022. Load is
not taken into consideration in scheme returns
calculation. Different Plans shall have a
different expense structure. Returns are net of
total expenses and are calculated on the basis of
Compounded Annualized Growth Rate (CAGR). with
effect from December 01, 2021 Tier 1 benchmark
has been updated as SP BSE 500 TRI. As TRI data
is not available since inception of the scheme,
benchmark performance is calculated using
composite CAGR SP BSE 500 index PRI Value from
March 13, 2006 to July 31, 2006 and TRI Value
since August 1, 2006. TRI data is not available
since inception of the scheme, Tier 2 benchmark
performance is calculated using composite CAGR
SP BSE 200 index PRI Value from March 13, 2006
to July 31, 2006 and TRI Value since August 1,
2006 For performance of other Schemes Managed by
Mr. Nilesh Shetty please see slide 47. For
performance of other Schemes Managed by Mr. Sorbh
Gupta please see slide 48.
40
Performance of Quantum Long Term Equity Value
Fund
Regular Plan Growth Option
The Scheme is co-managed by Mr. Sorbh Gupta and
Mr. Nilesh Shetty. Mr. Sorbh Gupta is the Fund
Manager effective from December 1, 2020. Mr.
Nilesh Shetty is the Fund Manager effective from
March 28, 2011.
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 Benchmark Tier 2 - Benchmark Additional Benchmark Tier 1 - Benchmark Tier 2 - Benchmark Additional Benchmark
Period Scheme SP BSE SP BSE SP BSE Scheme SP BSE SP BSE SP BSE
Period Returns () 500 TRI 200 TRI Sensex TRI (Rs) 500 TRI 200 TRI Sensex TRI
Period () () () (Rs) (Rs) (Rs)
1 year 24.66 33.26 31.10 26.45 12,481 13,347 13,129 12,662
3 years 12.91 19.85 19.32 18.26 14,401 17,222 16,995 16,546
Since Inception (01st Apr 2017) 9.66 15.29 15.38 16.25 15,628 19,914 19,988 20,726
Past performance may or may not be sustained in
the future. Data as of 31st January 2022. Load is
not taken into consideration in scheme returns
calculation. Different Plans shall have a
different expense structure. Returns are net of
total expenses and are calculated on the basis of
Compounded Annualized Growth Rate (CAGR). with
effect from December 01, 2021 Tier 1 benchmark
has been updated as SP BSE 500 TRI. As TRI data
is not available since inception of the scheme,
benchmark performance is calculated using
composite CAGR SP BSE 500 index PRI Value from
March 13, 2006 to July 31, 2006 and TRI Value
since August 1, 2006. TRI data is not available
since inception of the scheme, Tier 2 benchmark
performance is calculated using composite CAGR
SP BSE 200 index PRI Value from March 13, 2006
to July 31, 2006 and TRI Value since August 1,
2006. For performance of other Schemes Managed by
Mr. Nilesh Shetty please see slide 47. For
performance of other Schemes Managed by Mr. Sorbh
Gupta please see slide 48.
41
Performance of Quantum India ESG Equity Fund -
Direct Plan
The Scheme is managed by Mr. Chirag Mehta and Ms.
Sneha Joshi. Mr. Chirag Mehta is the Fund Manager
effective from July 12, 2019. Ms. Sneha Joshi is
the Associate Fund Manager effective from July
12, 2019
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 Benchmark Additional Benchmark Tier 1 Benchmark Additional Benchmark
Period Scheme Returns () NIFTY 100 ESG TRI () SP BSE Sensex TRI () Scheme (Rs) NIFTY 100 ESG TRI (Rs) SP BSE Sensex TRI (Rs)
1 Year 26.28 30.12 26.45 12,644 13,031 12,662
Since Inception (12th July 2019) 22.82 22.61 18.33 16,930 16,856 15,390
Past performance may or may not be sustained in
the future. Data as of 31st January 2022. Load is
not taken into consideration in scheme returns
calculation. Different Plans shall have a
different expense structure. Returns are net of
total expenses and calculated on the basis of
Compounded Annualized Growth Rate(CAGR). For
performance of other Schemes Managed by Mr.
Chirag Mehta please see slide number 50, 51 and
52. Mr. Chirag Mehta manages 5 schemes of Quantum
Mutual Fund.
42
Performance of Quantum India ESG Equity Fund -
Regular Plan
The Scheme is managed by Mr. Chirag Mehta and Ms.
Sneha Joshi. Mr. Chirag Mehta is the Fund Manager
effective from July 12, 2019. Ms. Sneha Joshi is
the Associate Fund Manager effective from July
12, 2019
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 Benchmark Additional Benchmark Tier 1 Benchmark Additional Benchmark
Period Scheme Returns () NIFTY 100 ESG TRI () SP BSE Sensex TRI () Scheme (Rs) NIFTY 100 ESG TRI (Rs) SP BSE Sensex TRI (Rs)
1 Year 25.32 30.12 26.45 12,547 13,031 12,662
Since Inception (12th July 2019) 22.02 22.61 18.33 16,650 16,856 15,390
Past performance may or may not be sustained in
the future. Data as of 31st January 2022. Load is
not taken into consideration in scheme returns
calculation. Different Plans shall have
a different expense structure. Returns are net of
total expenses and calculated on the basis of
Compounded Annualized Growth Rate(CAGR). For
performance of other Schemes Managed by Mr.
Chirag Mehta please see slide 50, 51 and 52. Mr.
Chirag Mehta manages 5 schemes of Quantum Mutual
Fund.
43
Performance of Quantum Equity Fund of Funds
Direct Plan Growth Option
The Scheme is managed by Mr. Chirag Mehta
effective from November 1, 2013.
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 Benchmark Additional Benchmark Tier 1 Benchmark Additional Benchmark
Period Scheme Returns () SP BSE 200 TRI () SP BSE Sensex TRI () Scheme (Rs) SP BSE 200 TRI (Rs) SP BSE Sensex TRI (Rs)
1 year 30.06 31.10 26.45 13,025 13,129 12,662
3 years 17.42 19.32 18.26 16,195 16,995 16,546
5 years 14.13 16.67 17.33 19,373 21,625 22,246
7 years 11.51 12.32 11.69 21,474 22,572 21,697
10 years 15.44 15.15 14.45 42,090 41,038 38,620
Since Inception (20th July 2009) 14.40 13.34 12.78 54,043 48,108 45,227
Past performance may or may not be sustained in
the future. Data as of 31st January 2022. Load is
not taken into consideration in scheme returns
calculation. Data as of 31st December
2021.Different Plans shall have different expense
structure. Returns are net of Total Expenses and
calculated on the basis of Compounded Annualized
Growth Rate (CAGR). For performance of other
Schemes Managed by Mr. Chirag Mehta please see
slide number 50, 51 52.
44
Performance of Quantum Equity Fund of Funds
Regular Plan Growth Option
The Scheme is managed by Mr. Chirag Mehta
effective from November 1, 2013.
Period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period Current Value of 10,000 Invested at the beginning of a given period
Period Tier 1 Benchmark Additional Benchmark Tier 1 Benchmark Additional Benchmark
Period Scheme Returns () SP BSE 200 TRI () SP BSE Sensex TRI () Scheme (Rs) SP BSE 200 TRI (Rs) SP BSE Sensex TRI (Rs)
1 year 29.75 31.10 26.45 12,993 13,129 12,662
3 years 17.14 19.32 18.26 16,079 16,995 16,546
Since Inception (1st April 2017) 12.62 15.38 16.25 17,778 19,988 20,726
Past performance may or may not be sustained in
the future. Data as of 31st January 2022. Load is
not taken into consideration in scheme returns
calculation. Different Plans shall have
different expense structure. Returns are net of
Total Expenses and calculated on the basis of
Compounded Annualized Growth Rate (CAGR).
For performance of other Schemes Managed by Mr.
Chirag Mehta please see slide number 50, 51 52.
45
Performance of Quantum Liquid Fund Direct Plan
Growth Option
Mr. Pankaj Pathak is the Fund Manager effective
from March 01, 2017
Current Value Rs 10,000 Invested at the beginning of a given period Current Value Rs 10,000 Invested at the beginning of a given period Current Value Rs 10,000 Invested at the beginning of a given period
Tier 1 Benchmark Additional Benchmark Tier 1 Benchmark Additional Benchmark
Period Scheme Returns () Crisil Liquid Fund Index Returns () Crisil 1 year T-bill Index Returns () Scheme (Rs.) Crisil Liquid Fund Index (Rs.) Crisil 1 year T-bill Index (Rs.)
7 Days 3.20 3.79 3.46 10,006 10,007 10,007
15 Days 2.93 3.42 1.34 10,012 10,014 10,006
1 Month 3.24 3.68 1.99 10,028 10,031 10,017
1 year 3.24 3.64 3.52 10,324 10,364 10,352
3 years 4.22 4.90 5.42 11,320 11,545 11,719
5 years 5.06 5.80 5.83 12,800 13,262 13,275
7 years 5.69 6.36 6.34 14,734 15,403 15,387
10 years 6.63 7.12 6.71 19,019 19,898 19,153
Since Inception (07th April 2006) 6.85 6.97 6.17 28,540 29,044 25,807
Past performance may or may not be sustained in
the future. Data as of 31st January 2022.
Different Plans shall have a different expense
structure. Data as of 31st December 2021 Simple
Annualized . Returns for 1 year and above
period are calculated on the basis of Compounded
Annualized Growth Rate (CAGR). Returns are net of
total expenses. Pankaj Pathak also manages
Quantum Dynamic Bond Fund. Please refer slide
no.49 to review performance of Quantum Dynamic
Bond Fund.
46
Performance of Quantum Liquid Fund Regular Plan
Growth Option
Mr. Pankaj Pathak is the Fund Manager effective
from March 01, 2017
Current Value Rs 10,000 Invested the beginning of a given period Current Value Rs 10,000 Invested the beginning of a given period Current Value Rs 10,000 Invested the beginning of a given period
Tier 1 Benchmark Additional Benchmark Tier 1 Benchmark Additional Benchmark
Period Scheme Returns () Crisil Liquid Fund Index Returns () Crisil 1 year T-bill Index Returns () Scheme (Rs.) Crisil Liquid Fund Index (Rs.) Crisil 1 year T-bill Index (Rs.)
7 Days 3.10 3.79 3.46 10,006 10,007 10,007
15 Days 2.83 3.42 1.34 10,012 10,014 10,006
1 Month 3.14 3.68 1.99 10,027 10,031 10,017
1 year 3.14 3.64 3.52 10,314 10,364 10,352
3 years 4.13 4.90 5.42 11,291 11,545 11,719
Since Inception (1st April 2017) 4.94 5.76 5.81 12,629 13,115 13,145
Past performance may or may not be sustained in
the future. Data as of 31st January 2022.
Different Plans shall have a different expense
structure. Data as of 31st December 2021 Simple
Annualized . Returns for 1 year and above
period are calculated on the basis of Compounded
Annualized Growth Rate (CAGR). Returns are net of
total expenses. Pankaj Pathak also manages
Quantum Dynamic Bond Fund. Please refer slide
no.49 to review performance of Quantum Dynamic
Bond Fund.
47
Other Schemes managed by Nilesh Shetty
Quantum Multi Asset Fund of Funds Mr. Nilesh
Shetty Co-managing along with Mr. Chirag Mehta
effective from July 11, 2012.
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) ) Jan 31, 2019 to Jan 31, 2022 (3 years) ) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Multi Asset Fund of Funds Direct Plan (Gr) 7.98 11.51 9.43 12.82 8.46 11.79
Quantum Multi Asset Fund of Funds Regular Plan (Gr) 7.58 11.51 9.11 12.82 NA NA
Data as of 31st January 2022. Past performance
may or may not be sustained in the future. Load
is not taken into consideration in Scheme Return
Calculation. CRISIL Composite Bond Fund Index
(20) SP BSE Total Return Index (40) CRISIL
Liquid Index (25) Domestic Price of Gold (15)
It is a customized index and it is rebalanced
daily. Returns are net of total expenses and are
calculated on the basis of Compounded Annualized
Growth Rate (CAGR). Different Plans shall have
different expense structure. Mr. Chirag Mehta
manages 5 schemes of the Quantum Mutual Fund. Mr.
Nilesh Shetty manages 2 schemes of the Quantum
Mutual Fund.
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Other Schemes managed by Sorbh Gupta
Quantum Tax Saving Fund Mr. Sorbh Gupta is the
Fund Manager effective from October 1, 2016.
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Tier 1 Benchmark Tier 2 Benchmark Scheme Tier 1 Benchmark Tier 2 Benchmark Scheme Tier 1 Benchmark Tier 2 Benchmark
Returns () Returns () Returns () Returns () Returns () Returns () Returns () Returns () Returns ()
Quantum Long Term Value Fund- Direct Plan (Gr) 25.06 33.26 31.10 13.50 19.85 19.32 10.73 16.68 16.67
Quantum Long Term Value Fund- Regular Plan (Gr) 24.44 33.26 31.10 12.96 19.85 19.32 N.A. N.A. N.A.
Data as of 31st January 2022. Past performance
may or may not be sustained in the future SP
BSE 500 TRI, SP BSE 200 TRI. Returns are net
of total expenses and are calculated on the
basis of Compounded Annualized Growth Rate
(CAGR). Different Plans shall have different
expense structure. Mr. Sorbh Gupta manages 2
scheme of the Quantum Mutual Fund
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Other Schemes managed by Pankaj Pathak
Quantum Dynamic Bond Fund Mr. Pankaj Pathak is
the Fund Manager effective from March 01, 2017.
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) ) Jan 31, 2019 to Jan 31, 2022 (3 years) ) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Dynamic Bond Fund - Direct Plan - Growth Option 3.24 3.07 7.88 8.50 6.39 6.99
Quantum Dynamic Bond Fund - Regular Plan - Growth Option 3.11 3.07 7.75 8.50 NA NA
Data as of 31st January 2022. Past performance
may or may not be sustained in the future.
CRISIL Composite Bond Fund Index. Returns are
net of total expenses and are calculated on the
basis of Compounded Annualized Growth Rate (CAGR)
Different Plans shall have different expense
structure. Mr. Pankaj Pathak manages 2 schemes of
the Quantum Mutual Fund
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Other Schemes managed by Mr. Chirag Mehta
Quantum Gold Fund Mr. Chirag Mehta is managing
the scheme effective from May 1, 2009. Ms. Ghazal
Jain is co-managing the scheme effective from
June 2, 2020
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) ) Jan 31, 2019 to Jan 31, 2022 (3 years) ) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Gold Fund (Gr) -3.19 -2.45 11.83 12.84 9.31 10.35
Data as of 31st January 2022. Past performance
may or may not be sustained in the future.
Domestic Price of Gold. Returns are net of total
expenses and are calculated on the basis of
Compounded Annualized Growth Rate (CAGR). Mr.
Chirag Mehta manages 5 Schemes and Ms. Ghazal
Jain manages 2 Schemes of the Quantum Mutual Fund
The Scheme being Exchange Traded Fund has one
plan to invest through stock exchange and having
a single expense structure Quantum Gold Savings
Fund Mr. Chirag Mehta is managing the scheme
effective from May 19, 2011. Ms. Ghazal Jain is
co-managing the scheme effective from June 2, 2020
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) ) Jan 31, 2019 to Jan 31, 2022 (3 years) ) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Gold Savings Fund Direct Plan (Gr) -3.87 -2.45 11.70 12.84 9.20 10.35
Quantum Gold Savings Fund Regular Plan (Gr) -4.02 -2.45 11.57 12.84 NA NA
Data as of 31st January 2022. Past performance
may or may not be sustained in the future.
Domestic Price of Gold. Returns are net of total
expenses and are calculated on the basis of
Compounded Annualized Growth Rate (CAGR).
Different Plans shall have different expense
structure. Mr. Chirag Mehta manages 5 Schemes and
Ms. Ghazal Jain manages 2 Schemes of the Quantum
Mutual Fund
51
Other Schemes managed by Mr. Chirag Mehta
Quantum Equity Fund of Funds Mr. Chirag Mehta is
the Fund Manager effective from November 01, 2013.
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) ) Jan 31, 2019 to Jan 31, 2022 (3 years) ) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Equity Fund of Funds Direct Plan (Gr) 30.60 31.10 17.42 19.32 14.13 16.67
Quantum Equity Fund of Funds Regular Plan (Gr) 29.75 31.10 17.14 19.32 NA NA
Data as of 31st January 2022. Past performance
may or may not be sustained in the future. Load
is not taken into consideration in Scheme Return
Calculation. SP BSE 200 TRI Returns are net
of total expenses and are calculated on the basis
of Compounded Annualized Growth Rate (CAGR). Mr.
Chirag Mehta manages 5 schemes of the Quantum
Mutual Fund Quantum Multi Asset Fund of Funds Mr.
Chirag Mehta Co-managing along with Mr. Nilesh
Shetty effective from July 11, 2012.
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) ) Jan 31, 2019 to Jan 31, 2022 (3 years) ) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum Multi Asset Fund of Funds Direct Plan (Gr) 7.98 11.51 9.43 12.82 8.46 11.79
Quantum Multi Asset Fund of Funds Regular Plan (Gr) 7.58 11.51 9.11 12.82 NA NA
Data as of 31st January 2022. Past performance
may or may not be sustained in the future. Load
is not taken into consideration in Scheme Return
Calculation. CRISIL Composite Bond Fund Index
(20) SP BSE Total Return Index (40) CRISIL
Liquid Index (25) Domestic Price of Gold (15)
It is a customized index and it is rebalanced
daily. Returns are net of total expenses and are
calculated on the basis of Compounded Annualized
Growth Rate (CAGR). Different Plans shall have
different expense structure. Mr. Chirag Mehta
manages 5 schemes of the Quantum Mutual Fund.
Mr. Nilesh Shetty manages 2 schemes of the
Quantum Mutual Fund. With effect from 1st
January 2020, the name of Quantum Multi Asset
Fund has been changed to Quantum Multi Asset
Fund of Funds.
52
Other Schemes managed by Mr. Chirag Mehta
Quantum India ESG Equity Fund Mr. Chirag Mehta
effective from July 12, 2019. Co-managing with
Ms. Sneha Joshi effective from July 12, 2019
Period Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 29, 2021 to Jan 31, 2022 (1 year) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2019 to Jan 31, 2022 (3 years) Jan 31, 2017 to Jan 31, 2022 (5 years) Jan 31, 2017 to Jan 31, 2022 (5 years)
Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns () Scheme Returns () Tier 1 Benchmark Returns ()
Quantum India ESG Equity Fund Direct Plan (Gr) 26.28 30.12 NA NA NA NA
Quantum India ESG Equity Fund Regular Plan (Gr) 25.32 30.12 NA NA NA NA
Data as of 31st January 2022. Past performance
may or may not be sustained in the future.
Different Plans shall have a different expense
structure. Returns are net of total expenses and
are calculated on the basis of Compounded
Annualized Growth Rate (CAGR). Mr. Chirag Mehta
manages 5 Schemes and Ms. Sneha Joshi manages 1
scheme of the Quantum Mutual Fund
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Disclaimer Terms of Use
The data in this presentation are meant for
general reading purpose only and are not meant to
serve as a professional guide/investment advice
for the readers. This presentation has been
prepared on the basis of publicly available
information, internally developed data and other
sources believed to be reliable. Whilst no action
has been suggested or offered based upon the
information provided herein, due care has been
taken to endeavor that the facts are accurate and
reasonable as on date. Quantum AMC shall make
modifications and alterations to the performance
and related data from time to time as may be
required as per SEBI Mutual Fund Regulations.
Readers are advised to seek independent
professional advice and arrive at an informed
investment decision before making any investment.
None of the Sponsors, the Investment Manager,
the Trustee, their respective Directors,
Employees, Affiliates or Representatives shall be
liable for any direct, indirect, special,
incidental, consequential, punitive or exemplary
damages, including lost profits arising in any
way from the data/information/opinions contained
in this presentation. The Quantum AMC shall make
modifications and alterations to the performance
and related data from time to time as may be
required. Please visit www.QuantumMF.com to
read scheme specific risk factors. Investors in
the Scheme are not being offered a guaranteed or
assured rate of return and there can be no
assurance that the schemes objective will be
achieved and the NAV of the scheme may go up and
down depending upon the factors and forces
affecting securities market. Investment in mutual
fund units involves investment risk such as
trading volumes, settlement risk, liquidity risk,
default risk including possible loss of capital.
Past performance of the sponsor / AMC / Mutual
Fund does not indicate the future performance of
the Scheme. Statutory Details Quantum Mutual
Fund (the Fund) has been constituted as a Trust
under the Indian Trusts Act, 1882. Sponsor
Quantum Advisors Private Limited. (liability of
Sponsor limited to Rs. 1,00,000/-). Trustee
Quantum Trustee Company Private Limited.
Investment Manager Quantum Asset Management
Company Private Limited. The Sponsor, Trustee
and Investment Manager are incorporated under the
Companies Act, 1956. 4th Febraury 2022 Mutual
fund investments are subject to market risks,
read all scheme related documents carefully. 59
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