3 Asset Classes, 1 Outlook – A Year-End Panel Discussion

1
3 Asset Classes, 1 Outlook A Year-End Panel
Discussion
Speakers Arvind Chari, CIO, Quantum Advisors
Pankaj Pathak, Fund Manager, Fixed Income Nilesh
Shetty, Fund Manager, Equity Chirag Mehta, Senior
Fund Manager, Alternative Investments December
17, 2021
1
2
India On the Cusp of a Sustained Economic Revival
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
2
3
Business sentiments improve.
Consumer sentiments have a long way to go
Consumer Sentiments
All-India
Urban
Rural
120 100 80 60 40 20 0
Nov-16 Mar-17 Jul-17 Nov-17 Mar-18 Jul-18
Nov-18 Mar-19 Jul-19 Nov-19 Mar-20 Jul-20
Nov-20 Mar-21 Jul-21
Source RBI, CMIE Consumer Sentiment data till
October 2021
3
4
Global Fiscal Expansion powers Growth
Government increases Capex spending 12 29 7
9
10
Amount in Rs. Trillion
5.5
8
4.46
6
4.66
4.37
4
5.54
4.12
2
3.36
2.99
0
FY19
FY20
FY21
FY22
Centre States
(Source Indiaudget.gov.in)
4
5
The Twin Balance Sheet problem is mending itself
Borrowings/Networth 2.00 1.80 1.60 1.40 1.20
1.00 0.80 0.60
Banking Sector Gross NPAs 14 12 10 8 6 4 2 0
1999-00 2001-02 2003-04 2005-06 2007-08 2009-10 20
11-12 2013-14 2015-16 2017-18 2019-20
1990-91 1993-94 1996-97
1999-00
2002-03
2005-06 2008-09
2011-12
2014-15
2017-18 2020-21
Source RBI, CMIE Annual Data till March 2021
5
6
Global Growth and Government will drive Exports
Growth
Export Growth (yoy) 50 40 30 20 10 0 -10 -
20
1992-93 1994-95 1996-97 1998-99 2000-01 2002-03 20
04-05 2006-07 2008-09 2010-11 2012-13 2014-15 2016
-17 2018-19 2020-21
Source RBI, CMIIE, Export Data is Annual till
March 2021 MEITY, Quantum Data
6
7
Residential Housing is a big driver of investment
led growth
Source Spark Capital Research,
7
8
China Plus One Allocation would mean Global
Capital will flow to India
Foreign Direct Investment 50 40 30 20 10
0
Foreign Portfolio Investment 50 40 30 20 1
0 0 -10 -20
USD Billion
USD Billion
Source RBI CMIIE. Annual Data till March 2021
8
9
India On the Cusp of a Sustained Economic Revival
Investments as a of GDP
25.0 23.0 21.0 19.0 17.0 15.0 13.0 11.0 9.
0 7.0 5.0
Private Corporate Capex
Household Capex
Source MOSPI, CMIIE, Annual Data till March 2020
9
10
Risks To The Recovery
Inflation in Raw materials and increase in Crude
prices may impact macro stability
Job Losses amongst salaried employees during the
pandemic and Rising Inflation may impact
consumer discretionary spend. Although recent
trends have been positive
Possibility of a Third wave and Related Lockdowns
10
11
India can continue to Grow at 6.0-6.5
World India China India average 6.1
China average 9.2
14.0
12.3
11.6
12.0
9.9
9.6
9.5
10.0
8.8
8.7
8.5
7.8
8.0
7.1
7.1
6.7
6.5
6.1
5.9
5.8
6.0
5.4
5.3
5.2
4.9
4.0
3.9
3.7
3.5
4.0
3.4
3.3
3.2
2.9
2.3
2.2
2.0 0.0 Jan 80 - Oct 84 Nov 84 - Dec 89 Jan 90
- Jun 91 July 91 - May 96 Jun 96 - Mar 98 Apr 98
- Apr 99 Jun 99 - May 04 Jun 04 - May 09 Jun 09 -
May 14 Jun 14 - Dec 20 Congress Congress Janata
Dal Congress DF BJP NDA UPA UPA NDA Real
GDP Growth Source Worldbank, RBI and
www.parliamentofindia.nic.in as of December 2020.
Please note that data used for World GDP for 2020
is a median Estimate since World Bank data is
not yet available and India GDP data is
governments second advance estimate released at
the end of September
11
12
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 70 75 -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.
12
13
Diversify your investments with our easy
12-20-80 Asset Allocation Strategy
12 Months Expense
20 Gold
80 Equity
Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
14
Pre-investment Block - Emergency Corpus (Liquid)
12 Months Expense
20 Gold
80 Equity
Play Money
Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
15
Rate Hikes likely to Begin Soon
CPI Inflation
Repo Rate
Reverse Repo Rate
Inflation holding above
10
the Policy Repo Rate
8 6 4 2 0
Source MOSPI, RBI, Quantum Research, Data upto
November 2021
15
16
though at a Gradual Pace
The RBI Talk our overarching priority at this
juncture is monetary and financial stability.
to broaden the growth impulses
while preserving
gradualism. We do not want to rock the boat when
shore is visible.

Our approach will be of
The RBI will ensure that financial conditions
(Rate hikes and liquidity tightening) are
rebalanced in a
well-telegraphed
systematic, calibrated and
manner.
to ensure a soft landing
Our motto is
that is well timed.
The RBI also stands committed
to undertake Operation Twists (OT) and regular
open market operations
anchoring of interest rate
as may be required for effective monetary
transmission and
(OMOs)
expectations Interest Rates are expected to
rise slowly and Terminal policy rate may remain
below the pre-pandemic normal level
17
Yield Curve is steepest in a decade Long bonds
already positioned for Rate Hikes
India Sovereign Yield Curve
7.0 6.5 6.0 5.5 5.0 4.5 4.0
30 -Nov- 21 28- 28- Feb-20 Feb-20
30 -Nov- 21 28- 28- Feb-20 Feb-20
30 -Nov- 21 28- 28- Feb-20 Feb-20








YIELD TO MATURITY
3.5
3M 6M 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 11Y TIME TO
MATURITY
12Y 13Y 14Y 15Y 19Y 24Y 30Y
Source Refinitiv, Quantum Research, Data as of
November 30, 2021 Past performance may or may not
sustained in future
18
Liquidity Normalisation 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 Source
Bloomberg, Quantum Research, Data upto November
30, 2021
19
Our Suggestion 12 months Emergency Money

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

Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
20
Quantum Dynamic Bond Fund
Active Duration Management
If interest rate expected to go down
If interest rate expected to rise
Focus on protecting value
Focus on capital appreciation
Invest in short term securities to make the
portfolio less sensitive to rising interest rate
Invest in long term securities to which gain more
when interest rate falls
In all market conditions fund maintains credit
risk at minimal levels by not investing in any
Private Credit
21
Long Duration Funds are for Longer Period
Crisil Composite Bond Index 1 year Return 3 Years
Annualised Return
16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0
0.0
2011
2012
2013
2014 2015 2016 2017 2018 2019 2020 2021 Source
AMFI, Quantum Research, Data as of November 30,
2021 Past performance may or may not sustained in
future
22
Portfolio Diversifying Block (Gold)
12 Months Expense
20 Gold
80 Equity Play Money Please note the above is
suggested fund allocation only and not an
investment advice / recommendation
23
Lower real yields supportive of Gold
23

• Inflationary pressures rising US November CPI
  came in at 6.8
• Federal Reserve to keep interest rates unchanged
  for most of 2022
• Interest rate hike to lag inflation Real
  interest rates continue to be lower
• Asset purchases by the Fed slow down, but still
  continue

Real interest rates continue to be under pressure
Inflation in the US at 39-year highs
Data as of Nov 2021. Source Investing.com,
Bloomberg
23
24
Gold useful amid Policy Uncertainty Rupee
Depreciation
24

• Speculation about faster than expected tightening
  by the Fed amid stronger and longer lasting
  inflation
• than it had predicted
• Aggressive tightening will have its own impact on
  growth and could necessitate a policy u turn
• Feds already behind the curve, further flip flops
  could lead to credibility issues
• Rupee has hit 18-month low against the dollar
  amid eroding risk appetite
• Speedier rollback of QE measures and a hardening
  of interest rates in the US to put further
  pressure on the Indian rupee

25
Portfolio diversifier Gold remains relevant
25

• Omicron to further soften global growth amid
  slowing momentum says the IMF
• The Fed too has now acknowledged higher inflation
  with Growing concerns about stagflation
• At high valuations, global equity markets are
  vulnerable to inflation policy
  tightening-induced capital flight

(Three-month moving average, annualized percent
change for industrial production deviations from
50 for PMIs) Source IMF World Economic Outlook
October 2021
26
Monetary Asset Keeping up with money supply
growth
1600 1400
US Money Supply - M2
Gold Prices
1200 1000 800 600 400 200
Rebased 100
0 1974 1977 1981 1985 1989 1993 1997 2001 2005 200
9 2013 2017 2021
Data as of October 2021 Source
fred.stlouisfed.org. Past performance may or may
not sustained in future
27
Our Suggestion 20 Investment in Gold

• Quantum Gold ETF
• Purity Each and every ETF unit is backed by 24
  carat physical gold
• Price efficiency No making charges or high
  premiums
• Transfers benefit of wholesale purchase prices to
  investors
• Benefit of GST credit at Scheme level at time of
  selling gold
• Traded close to market price of physical gold,
  with thin difference between buying and selling
  price
• Liquidity Enables you to buy and sell gold on
  the NSE and BSE with ease. Open 247
• Accessibility Participate in the gold market at
  low denominations of 1/2 gram.
• Offers an option to invest in smaller
  denominations of as little as Rs 500/month
• Regulation Regulated by SEBI
• SIP Invest through SIP route in Gold ETFs via a
  Gold Savings Fund No DEMAT account required

Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
28
Earning Block (Equity) 80
12 Months Expense
20 Gold
80 Equity
Play Money
Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
29
Corporate Profits Hit An All Time High,
Expectations Of Strong Demand Rebound
29
Past performance may or may not be sustained in
the future.
Source CMIE- Economic Outlook, Data as of Sep
2021
29
30
Consensus Earnings Upgrades After Many Years of
Flat Growth
30
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
November 30, 2021
31
31
Demonetization, GST, Covid Large Companies
Getting Larger
Past performance may or may not be sustained in
the future.
Source CMIE- Economic Outlook, Data as of Sep
2021
32
32
Real Estate Affordability Best in Two Decades
Past performance may or may not be sustained in
the future.
33
Pick Up in IT Hiring can have a Strong Multiplier
Effect
33
Net Addition
145,000 125,000 105,000
Past performance may or may not be sustained in
the future.
85,000
65,000 45,000 25,000 5,000 -15,000
Net Hires for Infosys TCS Wipro Tech Mahindra
Accenture Source Company Financials, Data as
of Sep 2021
34
Strong Tailwinds for Sustained Economic Expansion
34

• GST, Demonitisation Covid have accelerated
  market share gain of large peers Listed
  players should report faster earnings growth than
  the sector
• Low Home Loan rates acting as strong catalyst for
  Real Estate sales
• Pick up in IT hiring and Wage inflation
• Risks
• Strong third Covid wave if any could defer
  economic recovery
• Rapid Rise in inflation could start impacting
  consumer discretionary spend and interest rates

35
35
Spiking PER Overstates Valuation As Pandemic
Related Lockdowns Suppressed Earnings
Past performance may or may not be sustained in
the future.
Source Bloomberg Finance L.P., as of November
30, 2021
36
Our Suggestion 80 Investment in Equity
QLTEVF As of SP BSE-30 Index SP BSE-30 Index
Analysts views expressed FY2023 605 84 718
Analysts views expressed FY2024 426 82 519
Number of Stocks 28 93 30
Median market cap. (USD mn) 11,451 33 34,630
Wtd. dividend yield 1.89 156 1.21
Historical PER of portfolio (T12M) 22.2 61 36.7
Wt of stocks with PER lt 20, historical 35 390 9
Wt of stocks with PER gt 20, historical 65 72 91
Wt of stocks with PER gt 30, historical 49 74 66
ESTIMATES FOR FY2023
Analysts polled 605 84 718
Wtd. PER March 2023E 13.6 66 20.7
Wtd. EPS Growth March 2023E 26.0 100 25.9
PEG Ratio (excludes cash) 2023E 0.5 65 0.8
ESTIMATES FOR FY2024
Analysts polled 426 82 519
Wtd. PER March 2024E 12.2 68 17.9
Wtd. EPS Growth March 2024E 11.6 68 17.0
PEG Ratio (excludes cash) 2024E 1.0 100 1.0
15 in Quantum Long Term Equity Value Fund
QLTEVF Portfolio Valuations At A 39 Discount
To The Index On T12M And 34 Less Expensive On
FY23e
Please note the above is suggested fund
allocation only and not an investment advice
/ recommendation
Source Quantum Research, Data as of November 30,
2021 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
36
37
Why choose an Equity Fund Of Fund
There are 44 Mutual Fund houses and 500 equity
mutual fund schemes to choose from
Built-in diversification
No time/inclination/ expertise to select mutual
funds?
Professional research management
Cost-Efficient
Invest in a Fund Of Fund
Can invest with limited capital via SIPs
Equity scheme A
Equity scheme B
Equity scheme C
Equity scheme D
38
86 of large-cap funds underperform over 1 3
year period
39
Diversified portfolios have suffered during times
of Market Polarisation
Index movement BSE 200 1 year 3 years 5 years
Top 10 contributors 43 55 60
Reliance Industries Ltd 6.2 11.5 13.3
HDFC Bank Ltd 0.9 5.1 7.9
Infosys Ltd 9.4 11.6 10.2
ICICI Bank Ltd 6.7 6.9 6.6
Housing Development Finance Corp Ltd 3.2 3.8 5.4
Portfolio Concentration Portfolio Concentration Portfolio Concentration Portfolio Concentration
Stocks QEFOF BSE 200 Difference
Top 1 5.8 7.9 2.2
Top 5 23.7 30.8 7.2
Top 10 34.2 43.3 9.1
Top 30 55.5 65.1 9.6
Top 100 84.0 89.2 5.2
Top Gainers BSE 200 - BSE Chg 1 year
Adani Transmission Ltd 379.3
JSW Energy Ltd 370.1
Adani Total Gas Ltd 360.5
Adani Enterprises Ltd 316.8
Tata Power Co Ltd/The 237.9
Tata Motors Ltd 228.7
LT Technology Services Ltd 208.3
Mindtree Ltd 208.2
Vedanta Ltd 197.8
Indian Railway Catering Tour 193.7
Data as of November 2021
40
Our Suggestion 80 Investment in Equity
70 in Quantum Equity Fund of Fund
500 Equity schemes

• Research based Fund selection

• Funds with consistent performance across market
  cycles

• Balance between Risk Return
• Avoid Portfolio concentration

• Invest in diversified portfolio of Large and Mid
  Cap
• There is just one NAV to track and just one folio
  no hassles of making and tracking multiple
  investments

5 10 Funds in your portfolio
41
Performance
Performance as on 30th November 2021 (Returns in )
Scheme Name 1 Year 2 Years 3 Years 5 Years 7 Years 10 Years Since Inception
CAGR CAGR CAGR CAGR CAGR CAGR
Quantum Equity FoF Fund(G)-Direct Plan 35.57 20.53 16.64 14.65 11.99 15.97 14.51
SP BSE 200 - TRI 36.30 22.43 18.29 17.17 12.62 15.78 13.37
SP BSE SENSEX - TRI 30.56 19.52 17.67 17.80 11.69 15.01 12.82
NIFTY 50 - TRI 32.49 19.96 17.38 17.04 11.58 14.79 12.67
SP BSE Mid-Cap - TRI 47.52 29.29 19.24 15.83 14.60 17.39 14.81
SP BSE Small-Cap - TRI 66.90 44.73 25.83 18.81 14.84 17.67 14.85

Portfolio Schemes
Axis Bluechip Fund-Reg(G) 28.85 20.09 19.32 19.34 12.73 16.96 NA
Canara Rob Bluechip Equity Fund-Reg(G) 31.15 23.07 20.25 18.12 12.84 15.49 NA
Canara Rob Emerg Equities Fund-Reg(G) 40.30 29.16 21.86 19.21 16.61 23.15 22.08
Invesco India Growth Opp Fund(G) 33.43 18.90 16.28 16.56 12.71 16.26 14.53
Invesco India Midcap Fund(G) 45.77 32.19 22.46 18.59 15.19 20.64 20.23
Kotak Flexicap Fund(G) 28.62 16.77 15.45 14.84 12.57 17.29 NA
Mirae Asset Large Cap Fund-Reg(G) 33.17 19.20 16.86 16.73 13.63 18.00 17.18
Principal Emerging Bluechip Fund(G) 43.77 29.15 21.06 17.83 15.94 22.37 19.27
UTI Flexi Cap Fund-Reg(IDCW) 43.40 32.42 25.19 20.37 14.63 18.10 16.76
Source Ace MF. Past performance may or may not
be sustained in the future. Load is not taken
into consideration in scheme returns calculation.
Data as of 30th November 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 55
and 56
42
Risk is as much Relevant
Risk Ratios - Period (Since inception of Quantum
Equity FoF)
Risk Free Rate 6.00
20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021 20-Jul-2009 To 30-Nov-2021
Scheme Name SD Annualised Beta (Correlation ) Sharpe Sortino Jensens Alpha Down Side Risk Information Ratio Up Capture Ratio Down Capture Ratio
Quantum Equity FoF Fund(G)-Direct Plan 16.88 0.93 0.159 0.265 0.09 53.53 0.03 96.21 90.38
SP BSE 200 - TRI 17.72 1.00 0.145 0.239 0.00 56.96 100.00 100.00
Past performance may or may not be sustained in
the future.
Source Ace MF
43
A Well Diversified Portfolio
Market cap wise exposure
Top stocks of the look through QEFOF portfolio
Market Cap of Total Portfolio of Total Portfolio
Market Cap QEFOF BSE 200
Large Cap 61.14 86.88
Mid Cap 28.69 13.12
Small Cap 6.04 -
Cash 4.03 -
Total 100 100
Stocks November 2021
ICICI Bank Ltd. 5.75
Infosys Ltd. 5.64
HDFC Bank Ltd. 5.42
Reliance Industries Ltd. 3.78
Bajaj Finance Ltd. 3.05
Tata Consultancy Services Ltd. 2.49
Axis Bank Ltd. 2.12
State Bank Of India 2.09
Avenue Supermarts Ltd. 1.97
Larsen Toubro Ltd. 1.91
Includes
cash held by the underlying schemes and Q
EFOF
Data as of Nov 2021. Stock specific disclaimer -
Stocks referred above are not recommendation of
Quantum Mutual Fund/AMC. The Fund may or may not
have any present or future positions in these
Stocks. The above information of stocks 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. Past
Performance may or may not be sustained in future.
Data as on 30tht November 2021 Source ACE
MF
44
Sector allocation view of the active stock
picking done by various fund managers of the
underlying schemes
Sector SP BSE-200 Index November 2021 QEFOF look through portfolio November 2021
Communication Services 3.0 2.1
Consumer Disc. 7.6 11.8
Consumer Staples 8.1 5.2
Energy 9.8 4.2
Financials 31.9 27.7
Healthcare 5.2 7.7
Industrials 6.2 11.4
Materials 9.1 9.3
Real Estate 0.6 0.3
Technology 14.3 12.2
Utilities 4.2 2.3
Cash Equiv. 0.0 5.6
Total 100 100
No. of Securities 201 184
Data as of Nov 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.
44
45
Expensive on a trailing basis, potential of
superior forward earnings
Portfolio Characteristics QEFOF BSE200
Number of Stocks 171 192
Median market cap. (USD mn) 5,293 5,886
Wtd. dividend yield 0.83 1.28
Wtd. PER March 2024E 19.1 17.2
Wtd. EPS Growth March 2024E 22.0 17.5
PEG Ratio (excludes cash) 0.87 0.98
Historical PER of portfolio (T12M) 40.5 35.9
Wt of stocks with PER lt 20, historical 88 84
Wt of stocks with PER gt 20, historical 13 16
Wt of stocks with PER gt 30, historical 69 66
Out of 184 stock in the portfolio, the fundamental estimates could be found only for 171 stocks.
Out of 201 stock in the portfolio, the fundamental estimates could be found only for 192 stocks.
Data as of November 2021
45
46
Approach to ESG Evaluation
46
Proprietary research (Blended Approach)
Scoring system
Data Sources

• Company disclosures
• Binary scoring systems 1 for disclosure, 0 for
  non disclosure
• Scores standardized from 0 (minimum) to 100
  (maximum)

Company disclosures (30 weight) Companies are
evaluated on their levels of disclosures
provided in their sustainability reports /
business responsibility reports / annual
reports. Companies with higher disclosures get
higher scores.

• Sustainability reports (GRI Framework)
• Business Responsibility Reports (BRR) and annual
  reports
• Sustainability Accounting Standards Board (SASB)
  publications
• Pollution Control Board Filings
• Industry associations (WBCSD, WRI)
• News reports
• Management interaction

• Qualitative factors
• Negative scoring system Dependent on relative
  performance v/s peers or v/s national / global
  regulations
• Penalty for ESG non compliance
• Scores standardized from 0 (maximum) to -100
• (minimum)

• Qualitative factors (70 weight)
• Evaluate companies on their ESG performance
  relative to their peers on material ESG aspects.
• Check for any past violations / red flags of
  certain ES metrics and corporate governance
  regulations

• Consolidated score
• Ranges from 30 (maximum) to -70 (minimum)

46
47
Avoid companies with weak financial
sustainability
Leverage (60 Weight)
RoIC (30 Weight)
Growth (10 Weight)
Debt Equity lt 11 Consider 10-year historical,
current leverage ratio and prospects (including
one- offs).
RoIC gt 12 Consider 10 year and 3-year
historical average. Cyclical and Structural
industry factors assessed.
Growth gt 7 Consider last 3-year FCFF CAGR.

• Financial Assessment An Integral part of our
  ESG research.
• Companies meeting close to the minimum threshold
  are assessed on the current and future financial
  prospects.
• We review in-house equity analyst estimates (if
  available) and consensus estimates.

47
48
ESG scores drive sector weightages
48
Sector Quantum India ESG Equity Fund (Nov 2021) Nifty 100 ESG Index (Nov 2021) BSE 200 Index (Nov 2021)
Financial Services 14 28 32
IT 20 23 14
Consumer Goods 25 13 11
Automobile 11 8 5
Pharma - 5 4
Oil Gas 3 4 11
Cement Cement Products 5 3 3
Consumer services 2 4 2
Telecom 3 3 2
Power 2 3 3
Construction - 2 3
Metals - 2 4
Fertilisers pesticides 2 1 1
Healthcare services 3 1 1
Services - - 1
Chemicals 4 - 1
Industrial manufacturing 1 - 2
Total 100 100 100
No. of Securities 45 88 201
48
Source Quantum Asset Management Company Pvt Ltd.
As on November 30, 2021
49
Our Suggestion 80 Investment in Equity
49
15 in QESG Portfolio Characteristics versus
BSE-30 TRI
QESG BSE-30 TRI
Weighted dividend yield 1.22 1.21
Weighted EPS Growth March 2024E 21.93 17.05
PEG Ratio (excludes cash) 1.00 1.05
T12M PE 44.4x 36.7x
Weightage of stocks with PER lt 20 7 9
Weightage of stocks with PER gt 20 93 91
Weightage of stocks with PER gt 30 82 66
Past performance may or may not be sustained in
future. Source Quantum Asset Management Company
Pvt Ltd As of November 30, 2021
50
Equities or Fixed Income or Gold?
How do you pick the winning asset class?
51
FD rates on downward trend..
51
Tenure FD interest rates
1 year 4.90 - 6.25
2 year 4.55 - 6.50
3 year 4.90 - 6.50
5 year 5.00 - 6.70
14
SBI 1 year FD rate
12 10 8
6
Data as of November 11, 2021
4 2
Source FD Interest Rates Compare Fixed Deposit
Interest Rate Today (myloancare.in) Bloomberg,
SBI, Data as of November 2021
52
Consider inflation in your plans
Consumer Basket 1990 2000 2010 2015 2020 CAGR
TOTAL SPENDING PER ANNUM 23,759 68,923 151,279 280,064 427,619 10.1

Price of gold, INR/10 grams 3,409 4,528 18,268 26,335 50,104 9.4
Units ( Grams) of gold to consume my basket 70 152 83 106 85

BSE SENSEX 730 4,659 15,585 26,557 47,751 14.9
Units of BSE-30 Index to consume my basket 33 15 10 11 9

Fixed Deposit Basket Index Value (Value of initial investment Jan 1, 1990 1000) (SBI 1 Year Deposit Rate) 1,064 2,220 3,550 4,628 5,814 6.0
Units of FD Basket to consume my basket 22 31 43 61 73
Equities and gold can give your savings the
much-needed boost.. Past performance may or may
not sustained in future. Quarterly compounding
and Tax rate on Fixed Deposit assumed to be 30
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Using mutual funds for asset allocation
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Quantums Suggested Asset Allocation Strategy
12 Months Expense
20 Gold
80 Equity
Play Money
Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
54
55
Coming Soon ! Diversify with 12-20-80 in just a
few clicks
Please note the above is suggested fund
allocation only and not an investment advice /
recommendation
This is for illustrative purpose only.
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56
Coming Soon ! Diversify with 12-20-80 in just a
few clicks
56
This is for illustrative purpose only.
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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 35.24 35.95 30.28 13,557 13,630 13,056
3 years 16.64 18.29 17.67 15,877 16,561 16,301
5 years 14.65 17.17 17.80 19,821 22,097 22,697
7 years 11.99 12.62 11.69 22,115 23,008 21,709
10 years 15.97 15.78 15.01 44,045 43,352 40,551
Since Inception (20th July 2009) 14.51 13.37 12.81 53,457 47,250 44,465
Past performance may or may not be sustained in
the future. Load is not taken into consideration
in scheme returns calculation. Data as of 30th
November 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 55 and 56
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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 34.91 35.95 30.28 13,524 13,630 13,056
3 years 16.38 18.29 17.67 15,770 16,561 16,301
Since Inception (1st April 2017) 12.85 15.54 16.46 17,592 19,631 20,377
Past performance may or may not be sustained in
the future. Load is not taken into consideration
in scheme returns calculation. Data as of 30th
November 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 55 and 56.
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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 1 year 1 year 3 years 3 years 5 years 5 years
Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns ()
Quantum Gold Fund (Gr) -1.37 -0.60 15.68 16.74 9.45 10.49
Past performance may or may not be sustained in
the future. Domestic Price of Gold. Data as of
30th November 2021 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 1 year 1 year 3 years 3 years 5 years 5 years
Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns ()
Quantum Gold Savings Fund Direct Plan (Gr) -2.90 -0.60 15.18 16.74 9.41 10.49
Quantum Gold Savings Fund Regular Plan (Gr) -3.05 -0.60 15.05 16.74 NA NA
Past performance may or may not be sustained in
the future. Domestic Price of Gold. Data as of
30th November 2021 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.
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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 1 year 1 year 3 years 3 years 5 years 5 years
Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns ()
Quantum India ESG Equity Fund Direct Plan (Gr) 34.99 37.99 NA NA NA NA
Quantum India ESG Equity Fund Regular Plan (Gr) 34.00 37.99 NA NA NA NA
Past performance may or may not be sustained in
the future. Data as on 30th November
2021 Different Plans shall have 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 1
Schemes of the Quantum Mutual Fund. NIFTY 100
ESG TRI. Quantum Multi Asset Fund of Funds Mr.
Chirag Mehta Co-managing along with Mr. Nilesh
Shetty effective from July 11, 2012.
Period 1 year 1 year 3 years 3 years 5 years 5 years
Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns () Scheme Returns () Benchmark Returns ()
Quantum Multi Asset Fund of Funds Direct Plan (Gr) 9.41 13.36 9.72 13.42 8.80 12.04
Quantum Multi Asset Fund of Funds Regular Plan (Gr) 9.01 13.36 9.41 13.42 NA NA
Past performance may or may not be sustained in
the future. Load is not taken into consideration
in Scheme Return Calculation. Data as of 30th
November 2021. Indicates CRISIL Composite Bond
Fund Index (20) SP BSE SENSEX 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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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. 17th December 2021 Mutual
fund investments are subject to market risks,
read all scheme related documents carefully.
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