NFO opens: July 2, 2025

SUNDARAM NFO closes: July 16, 2025

Multi-Factor Fund
An open-ended equity scheme that
follows multi-factor-based investment strategy
Table of Contents

What is Factor Investing? 02

How is Factor Investing a smarter choice? 03

A fresh take on investing: Traditional vs. Factor 04

Established factor - based strategies 05

Evolution of Factor Investing 07

How a Multi-factor approach is better 11

The Sundaram Multi-Factor Portfolio 12

What is Factor Investing?

A symphony is orchestration of multiple instruments viz. violin,

In music, the magic of a performance is created through a
Flute, Trombone, Cello, Percussion etc. Arranged and executed
blend of melody, rhythm, harmony, and timing.
well, the experience is deeper and meaningful

Similarly, in investing, certain characteristics — called Factor investing is like that symphony — selecting stocks
Factors — influence how a stock performs. based on traits like Quality, Value, Growth, Size and
Momentum to create a harmonious portfolio.

What makes the difference in music - It’s not just one instrument, but orchestration of many.
In investing, it’s not just a single Factor — but an appropriate blend of many

2
How is Factor Investing a smarter choice?

Time-tested Principles
Rule-based
Free from emotional bias Built on diversification

Passive Discretionary/ Active Active

Market / Index
Investing Return Management Investing

3
 A fresh take on investing: Traditional vs. Factor

Key aspect Traditional Investing Factor Investing

Relies on discretionary decision making Relies on systematic data driven strategies

Investment Style
by FMs, based on fundamental and to select investments based on factors.
quantitative analysis.

Portfolio Managing by cap curve, sectoral allocation By leveraging historical evidence and
Construction and active stock picking. statistical analysis to deliver better risk-
adjusted return.

Through traditional cap curve/ sector Through a different set of parameters –

Diversification
groupings/ asset class and generating growth, quality, value and momentum.
return through active allocation.

Investment Based on fund manager's outlook. Rule-based investment decisions,

Behavior minimizing human biases.

4
Established factor-based strategies

Each factor targets stocks with specific return-driving traits

Momentum Quality
Focuses on stocks showing strong recent
performance — based on the idea that winners 01 03 Targets financially sound companies — with low
debt, stable earnings, strong cash flows, and
often keep winning in the short-term. healthy return ratios.

Growth Value
Looks for companies delivering consistent
increases in sales, profits, or assets — reflecting
02 04 Identifies stocks trading below their intrinsic worth
— based on valuation metrics like Price-to-Earnings
strong business expansion. or Price-to-Book, Replacement cost, etc.

Size: A layer for stability and enhanced risk-adjusted return

5
Established factor-based strategies

Investor Bias What It Leads To Factor That Helps How the Factor Helps

Trim the flowers

and water the
weeds Selling winners too early and Momentum / Tracks price trends and company
Loss Aversion
holding losers too long Quality health to stay objective

Value Trap
Seek information that
supports our belief Selectively focus on information
Focuses on real earnings growth,
Confirmation Bias that supports belief resulting in Growth
not just convincing stories
buying high and selling low
Growth Trap
Focusing on the latest
experience and
Anchors decisions on long-term
forgetting the big Overemphasize recent strong
picture Recency Bias Quality company stability and
numbers, ignoring historical details
fundamentals
Quality Trap
Jumping off a cliff
with the crowd is
Chasing a stock by following others
easier than thinking Identifies undervalued stocks and
first Herd Mentality and expecting it to rise Value
avoids overhyped trends
Momentum Trap

6
The term ‘Factors' may sound new, but the idea isn't

1964 1981 2003

Sharpe, Lintner and Banz finds that small cap stocks First Smart Beta ETF
Mossin developed the outperformed large cap stocks; Fund launched
Capital Asset Pricing Basu finds that low PE stocks
Model (CAPM) generate higher returns

Size,
1960 Low 1980 Value,
Separation Volatility
Size,
Momentum 2000 2010
of beta and
alpha
1970 Value 1990

1972 1993 2015

Haugen and Heinz • Fama and French developed 3- Fama and French expand
showed low volatility factor model by adding size their asset pricing model by
stocks realized extra and value to the market factor adding profitability and
risk-adjusted returns • Jegadeesh and Titman find investment factors
1976 that buying past winners and 2019
Launch of the first selling past losers was highly AUM in Smart Beta ETFs
index mutual fund profitable exceed USD 880 billion

Skilled fund managers have long relied on these characteristics — like value, quality, or
momentum — to guide their investment decisions.

Source: Wikipedia
7
Factor performance across market cycles

Q G V M BSE 200 TRI

Each factor performs at different times — but none leads all the time. Combining them through
a multi-factor strategy helps deliver more stable returns across changing market conditions.

Source: Bloomberg, Sundaram Asset Management *Q = Quality G = Growth V = Value M = Momentum I = Index
Data as of December 31, 2024 BSE Enhanced Value TRI, BSE Quality TRI, BSE Momentum TRI, Internal Index of 50 top stocks for Growth 8
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Using multi-factor helps performance across market cycles

Annual Factor Rankings (2016-2024) Distribution of Factor Rankings (2016-2024)

2016 2017 2018 2019 2020 2021 2022 2023 2024 BSE 200 TRI 22% 11% 67%

Quality 33% 22% 44%

Rank1 V M I M Q V V V M

Growth 33% 33% 33%

Rank2 M G Q I G G Q M V
Value 56% 11% 33%

Rank3 Q V G G I M M Q G
Momentum 56% 22% 22%

Rank4 G Q M Q V I I G Q Rank 1&2 3 4&5

Rank5 I I V V M Q G I I

All factors have individually outperformed the Index: Momentum and Value topped
Relying on a single factor is risky—markets move in cycles. Multi factor can mitigate cyclicity.

Source: Bloomberg, Sundaram Asset Management *Q = Quality G = Growth V = Value M = Momentum I = Index
Data as of December 31, 2024 BSE Enhanced Value TRI, BSE Quality TRI, BSE Momentum TRI, Internal Index of 50 top stocks for Growth 9
Refer to Annexure B for calculation with model portfolio All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
The Pillars of Factor-Based Investing

A structured approach to capture market opportunities

Quality Momentum Growth Value Size

Financially strong companies Stocks trending upward Companies with high Undervalued stocks based Well balanced between Large
with consistent earnings and capturing market trends in earnings growth and on fundamentals like low and Mid Cap to maximize
low debt. real time. reinvestment potential. P/E or P/B ratios. compounding while
minimize risk.

10
Why Multi-Factor and not single factor approach?

Aspect Single-Factor Investing Multi-Factor Investing

Strategy Focuses on one factor (e.g., Value or Momentum) Combines multiple factors for holistic exposure

Risk High risk during factor underperformance Reduced risk through diversification

Consistency Cyclical, performance depends on market trends More stable returns over various cycles

Implementation
Investors/Advisors needs to constantly Switch in/out Buy and stay invested for the long-term
Complexity

Multi Factor model should

Be implementable Protection
Be justified by Have exhibited
across time horizon history during
significant
research and on the entire bad times
return history
universe

11
Sundaram Multi-Factor Portfolio creation

Investment Universe
Currently Top 250 companies by market cap

Stock Selection
Stocks are ranked within each factor — Momentum, Value, Quality,
Growth and Size—based on factor determinants

Portfolio Construction
The portfolio consists of the top 25 stocks selected within each factor. Additionally,
top stocks are included based on the Size. Total Stocks ~85 after overlap

Monitoring & Rebalancing

Portfolio reviewed on a regular basis based on ranking and factor returns
and rebalancing quarterly

12
Benefits of Sundaram Multi-Factor Fund

Diversifies across multiple

factors

Momentum
Captures return efficiently while
Quality offering superior risk-adjusted
return across market cycles
Growth

Through cross sectional

approach, captures opportunistic
Size sectors across cycles
Value

Reduced concentration risk by

diversifying

13
Sundaram Multi-Factor Model Portfolio vs Single Factor

65
Momentum Cumulative Amount(Lacs)
60
Momentum
55
50 50.8
50.1
Investment (Rs. Lakhs)

45 46.3
40 39.5
35 37.0

30 29.6
25
20
15
10
5
Aug-15

May-16
Aug-16

May-17
Aug-17

May-18
Aug-18

May-19
Aug-19

May-20
Aug-20

May-21
Aug-21

May-22
Aug-22

May-23
Aug-23

May-24
Aug-24
Nov-15

Nov-16

Nov-17

Nov-18

Nov-19

Nov-20

Nov-21

Nov-22

Nov-23

Nov-24
Feb-16

Feb-17

Feb-18

Feb-19

Feb-20

Feb-21

Feb-22

Feb-23

Feb-24

Feb-25
Investment Period

Q G V M Index Model Portfolio

Sundaram Multi-Factor Model Portfolio closely trails the top-performing factor while outperforming momentum, quality,
growth, and the index — offering a well-balanced return with reduced concentration risk.

Source: Bloomberg, Sundaram Asset Management *Q = Quality G = Growth V = Value M = Momentum I = Index
Data as of March 31, 2025 BSE Enhanced Value TRI, BSE Quality TRI, BSE Momentum TRI, Internal Index of 50 top stocks for Growth 14
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
It’s not just Return, It’s Risk-Adjusted Return

Single vs Multi-Factor Return Analysis

M Model Portfolio V Value

M Momentum

Q Quality

G Growth

The Model Portfolio optimizes the trade-off between returns and volatility,
positioning it more favorably on the risk-return spectrum than individual factor strategies.

Source: Bloomberg, Sundaram Asset Management

Data as of May 31, 2025 15
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Multi-Factor Model for Superior Risk-Adjusted Return

Factors Return Volatility Risk-Adjusted

Return

Quality 19% 20.2 0.94

Value 21% 22.8 0.92

Growth 18% 17.2 1.02

Momentum 20% 19.3 1.05

Model Portfolio 21% 17.6 1.19

Growth has least Sundaram Multi-

Value provided All factors are
Factor has the
higher return with volatility with cyclical highest risk-
higher volatility lowest return adjusted return

Source: Bloomberg, Sundaram Asset Management

Data as of May 31, 2025, Volatility measured by SD, all data 1yr rolling basis since 2015 16
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Sundaram Multi-Factor Model: Outperformance

3 Years Rolling Returns 5 Years Rolling Returns

Sundaram Sundaram Model
BSE 200 TRI BSE 200 TRI
Model Portfolio Portfolio

Average Return 20.2% 13.5% 21.5% 14.0%

Maximum Return 37.5% 27.6% 32.9% 22.9%

Minimum Return -2.9% -4.1% 9.1% 4.1%

% of times outperformed BSE 200 TRI 100% 100%

On a 3-year and 5-year basis the fund has outperformed benchmark at all times

Source: Bloomberg, Sundaram Asset Management

Data as of May 31, 2025, Volatility measured by SD, all data 1yr rolling basis since 2015 17
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Unlocking Opportunities

Sundaram
Quality Growth Value Momentum Model
Portfolio

Up Capture 154.1 108.0 215.9 151.3 148.2

Down Capture
100.3 92.6 105.1 96.5 93.7

Sundaram Multi-Factor Model Portfolio has efficiently captured market upside opportunities and providing
downside protection

Source: Bloomberg, Sundaram Asset Management

Data as of CY 2024, Volatility measured by SD, all data 1yr rolling basis since 2015 18
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Sundaram’s Multi-Factor Fund Offers Low Inter-Factor
Correlation

Correlation Analysis

Sundaram
Value Momentum Quality Growth Model
Portfolio

Value 1.00 0.53 0.83 0.52 0.66

Momentum 0.53 1.00 0.49 0.72 0.88

Quality 0.83 0.49 1.00 0.69 0.63

Growth 0.52 0.72 0.69 1.00 0.72

Sundaram Model Portfolio 0.66 0.88 0.63 0.72 1.00

Sundaram Multi-Factor Fund offers higher diversification

and effectively captures rallies across multiple factors

Source: Bloomberg, Sundaram Asset Management

Data as of CY 2024 Volatility measured by SD, all data 1yr rolling basis since 2015 19
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Sector Rotation Analysis of Sundaram’s Model Portfolio vs
Index
BFSI IT - Software Pharmaceuticals & Biotechnology Petroleum Products
70.0

60.0
9.0 9.2 8.0
7.9 8.3 8.9 6.2
50.0 6.0 6.7 8.4 2.2 8.9
7.5 3.9 5.2 7.3
4.1 4.3 4.5 7.5 8.6 6.2
5.1 8.0 6.7 3.7 2.9
4.5 8.9 8.4 10.6 8.8 15.3 3.8 4.6
40.0 8.2 7.3 11.0
7.1 13.2 1.1 10.8
4.1 8.8 3.8 18.7 15.3 11.3 12.0
12.6 3.0 11.2 10.7 11.2
9.0
30.0 8.7 6.3 15.5
8.8
12.6

20.0
33.7 36.2 34.3
31.2 31.7 30.8 31.4 29.0 29.8
27.7 26.8 28.6 28.4 26.1 28.6 27.7
25.2 24.1
10.0 20.6 21.4

0.0
Model BM 2015 Model BM 2016 Model BM 2017 Model BM 2018 Model BM 2019 Model BM 2020 Model BM 2021 Model BM 2022 Model BM 2023 Model BM 2024
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Sundaram Model Portfolio exhibits dynamic sector rotation and diverges from the
benchmark in its top sector allocations, allowing for more responsive positioning across market cycles.

Source: Bloomberg, Sundaram Asset Management *BM (Benchmark) = BSE 200 TRI
Data as of December 31, 2024 20
Dynamic rotation of Model portfolio Vs BM (Jan ’24 to Mar ’25)

Jan-Mar 24 Apr-Jun 24 Jul-Sep 24 Oct-Dec 24 Jan-Mar 25 Benchmark- Mar 25

Banks 25.1 Banks 20.4 Banks 21.7 Banks 23.5 Banks 24.6 Banks 22.5

IT-Software 10.8 Petroleum Prod 10.3 IT-Software 8.9 IT-Software 9.5 IT-Software 12.0 IT-Software 11.2

Petroleum Prod 7.3 IT-Software 7.0 Finance 7.1 Petroleum Prod 6.1 Pharmaceutical 8.6 Petroleum Prod 6.2

Finance 6.4 Power 5.9 Petroleum Prod 6.8 Pharmaceuticals 5.9 Petroleum Prod 6.2 Automobiles 5.4

Power 5.2 Automobiles 4.7 Electrical Equip 5.3 Capital Market 4.1 Finance 5.2 Finance 5.2

Electrical Equip 4.1 Finance 4.7 Auto Component 4.7 Electrical Equip 4.1 Telecom 4.8 Pharmaceuticals 4.6

Automobiles 3.5 Constuction 3.6 Aerospace & Def 4.7 Finance 3.5 Capital Markets 4.6 Diversified 4.2

Ferrous Metals 2.9 Realty 3.5 Power 4.1 Auto Component 3.5 Insurance 2.9 Power 3.5

Pharmaceuticals 2.9 Consumer Dur 3.5 Automobiles 3.6 Insurance 2.9 Healthcare Serv 2.9 Telecom 3.2

Minerals & Mini 2.3 Electrical Equip 2.9 Diversified FMCG 2.9 Diversified FMCG 2.8 Consumer Dur 2.3 Retailing 3.1

Total 58.4 59.2 63.2 59.2 68.0 69.1

Top ten sectors and color-coded top five based on Jan-Mar 2025 - Model Portfolio

Source: Bloomberg, Sundaram Asset Management

21
Sector allocation of Sundaram Model Portfolio
Top 10 sectors overweight and underweight analysis

2015 2018

8.0
5.6
6.0 6.0 4.8 4.7
3.1 5.0 3.8
4.0 4.0
2.0 1.8 2.7
2.0 3.0
2.0 0.9
0.0 1.0 0.5
-2.0 -0.8 0.0
-0.9 -0.9 -1.4 -1.0
-1.8
-4.0 -2.0 -1.3
-4.0 -3.0 -2.0 -2.2
-6.0 -4.0
-5.0 -4.0
Consumer Durables

Retailing

Finance

IT - Software
Power

Banks

Pharmaceuticals &

Diversified FMCG
Auto Components

Petroleum Products

Biotechnology

Pharmaceuticals &

Petroleum Products

Banks
Consumer Durables
Power

Finance

IT - Software

Diversified FMCG
Petrochemicals
Industrial Products

Chemicals &
Biotechnology
Through multi-factor selection, the model portfolio adapts differently across various cycles,
positioning itself uniquely compared to conventional indices and other diversified funds.

Source: Bloomberg, Sundaram Asset Management

Data as of March 31, 2025 22
Smart Sector Positioning Enhances Returns

Top Overweight Sectors in CY 2023 2024 Outperformance vs BSE 200 TRI

35.0
32.6

30.0
3.5
3.2
3.0 25.0

2.5 20.0
17.7
2.0
1.6 15.0
1.5
1.5
1.1 10.0
0.8 8.0
1.0

0.5 5.0

0.0 0.0 -0.6 -1.3

Electrical Finance Power Ferrous Metals Banks Electrical Finance Ferrous Metals Power
-0.6
Power Banks
Banks
Equipment -1.3
-5.0 Equipment

Sundaram Model Portfolio exhibits dynamic sector rotation and diverges from the
benchmark in its top sector allocations, allowing for more responsive positioning across market cycles.

Source: Bloomberg, Sundaram Asset Management

Data O/W & U/W as of Dec’23 and outperformance as of CY24 23
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Sundaram Model: Market Cap Allocation

100% 2.8 1.7

4.4 5.5 4.3 5.0 7.5
10.2 11.3
14.2
90%

80% 38.0 37.6

38.8 35.5 41.0 38.8
36.7 39.7
70% 37.3
36.6

60%

50%

40%

30% 56.8 59.1 59.3 60.6

53.1 54.7 56.2
51.4 52.8
49.2
20%

10%

0%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Large Cap Mid Cap Small Cap

Large-cap and mid-cap universe correlates with

stability, lower volatility and growth in uncertain market conditions

Source: Bloomberg, Sundaram Asset Management

Data as of December 31, 2024 24
Sundaram Multi-Factor Model – CY Returns vs Index

Model Portfolio Index

Market Top 10 stocks These stocks are

Polarization contributed 40% the primary
(2018-2019) of the index drivers of returns

Source: Bloomberg, Sundaram Asset Management

All returns are indicative and based on model assumptions and underlying indices; actual performance may vary 25
Rs. 1 Crore Journey in Model Portfolio vs Index

6.50
5.41
6.00
5.50 5.41
4.9
5.00
4.50
4.00 3.14
3.50
3.00 3.14
2.50 ₹1 crore grew to approximately
2.00
1.50
₹5.5 crore in Sundaram Multi-
1.00 Factor Model Portfolio,
0.50 compared to ₹3 crore in BSE 200
-
since 2015.
Jun-16

Jun-17

Jun-18

Jun-19

Jun-20

Jun-21

Jun-22

Jun-23

Jun-24
Feb-23
Oct-19
Aug-15
Oct-15

Feb-16

Aug-16
Oct-16

Feb-17

Aug-17
Oct-17

Feb-18

Aug-18
Oct-18

Feb-19

Aug-19

Feb-20

Aug-20

Aug-21

Aug-22

Aug-23

Aug-24
Oct-20

Feb-21

Oct-21

Feb-22

Oct-22

Oct-23

Feb-24
Apr-24

Oct-24

Feb-25
Dec-15

Dec-16

Dec-17

Dec-18

Dec-19

Dec-20

Dec-21

Dec-22

Dec-23

Dec-24
Apr-16

Apr-17

Apr-18

Apr-19

Apr-20

Apr-21

Apr-22

Apr-23

Apr-25
BSE 200 TRI Sundaram Multi Factor Model Portfolio

Source: Bloomberg, Sundaram Asset Management

Data as of May 31, 2025 26
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Strong Recent Performance During Volatility

35.0%

30.0%

25.0% 23.9%
-5.8%
-5.7%

20.0% -5.7%

16.6%
15.0%

10.0%

5.0%

0.0%
Jul-24

Dec-24
Jan-24

Mar-24

Jun-24
Apr-24

Aug-24

Sep-24

Jan-25

Mar-25

Apr-25
Feb-24

May-24

Nov-24

Feb-25

May-25

Jun-25
Oct-24
Model BSE200
BSE 200 TRI
Sundaram Multi-Factor Fund Model Portfolio outperformed benchmark during volatility in recent history.

Source: Bloomberg, Sundaram Asset Management

Data as of May 31, 2025 27
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Sundaram Model Portfolio’s Uniqueness

55.00
Overlap vs BSE 200
50.00

45.00

40.00

35.00

30.00

25.00

20.00

15.00
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Higher stock active share in Sundaram Multi-Factor Fund, it will have around 50% unique stock vs
Benchmark

Bloomberg, Sundaram Asset Management Data as of March 31, 2025

28
Summarizing Sundaram Multi-Factor Fund

Delivered higher risk- Delivered relatively better Diversification based on

adjusted returns than return during market up Value/Growth/Quality/
the individual factors cycle vs Index and Momentum gives a
and broad index, with demonstrated resilience differentiated portfolio vs
more consistency. during market down cycle. typical actively managed
category funds.

29
Fund Facts

Objective An open ended equity scheme that follows a multi-factor based investment strategy

Benchmark BSE 200 TRI

Fund Managers Rohit Seksaria, Bharath S, Dwijendra Srivastava, Sandeep Agarwal

Plans Regular & Direct

Growth, IDCW (Pay Out, Reinvestment & Sweep);

Options
Default Option: Growth; Default Sub-Option: IDCW Sweep

Lumpsum: First Investment: INR 100 and any amount thereafter; Subsequent Purchase: INR 100 and any amount thereafter
Minimum Subscription
SIP: INR 1000 per week, INR 100 per month, INR 750 per quarter,
Amount
Weekly SIP will be processed on Wednesdays

• 1% of the applicable NAV - Any redemptions, switch or withdrawals by way of SWP would be subject to an exit load within 365
days from the date of allotment.
• NIL - if the units are redeemed after 365 days from the date of allotment of units.
Load Structure • Further, exit load will be waived on Intra-scheme Switch-outs/STP. Generally, the exit load will be calculated on First in First
out (FIFO) basis. Investors/Unit holders should note that the AMC/Trustee has the right to modify existing Load structure and
to introduce Loads subject to a maximum limits prescribed under the Regulations. Any change in Load structure will be
effective on a prospective basis and will not affect the existing Unit holder in any manner.

30
Annexure A

Sundaram Sundaram
1 Year Q G V M BSE 200 Model 3 Year Q G V M BSE 200 Model

Average Return 19.5% 20.5% 28.7% 23.5% 15.9% 24.0% Average Return 15.7% 16.4% 18.6% 17.7% 13.5% 20.2%

Maximum Return 70.9% 77.6% 139.5% 90.2% 81.7% 107.5% Maximum Return 27.9% 27.9% 53.7% 34.4% 27.6% 37.5%

Minimum Return -20.8% -19.4% -46.4% -16.2% -28.5% -23.6% Minimum Return -2.7% -1.3% -22.2% 0.7% -4.1% -2.9%

< 0% return 16.0% 23.0% 33.0% 16.0% 18.0% 15.0% < 0% return 2.0% 1.0% 22.0% 0.0% 5.0% 1.0%

> 0% return 84.0% 77.0% 67.0% 84.0% 82.0% 85.0% > 0% return 98.0% 99.0% 78.0% 100.0% 95.0% 99.0%

> 10% return 63.0% 61.0% 59.0% 66.0% 57.0% 67.0% > 10% return 76.0% 84.0% 65.0% 84.0% 77.0% 85.0%

> 15% return 55.0% 52.0% 56.0% 56.0% 40.0% 55.0% > 15% return 59.0% 71.0% 56.0% 67.0% 44.0% 70.0%

> 20% return 37.0% 45.0% 54.0% 48.0% 33.0% 45.0% > 20% return 32.0% 24.0% 48.0% 32.0% 11.0% 55.0%

Total Observation 106 106 106 106 106 106 Total Observation 82 82 82 82 82 82

Sundaram
5 Year Q G V M BSE 200 Model

Average Return 15.8% 17.2% 17.5% 17.1% 13.8% 21.2%

Maximum Return 26.4% 25.8% 45.5% 28.6% 22.8% 32.9%

Minimum Return 7.0% 7.8% -1.5% 9.0% 4.1% 9.1%

< 0% return 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

> 0% return 100.0% 100.0% 95.0% 100.0% 100.0% 100.0%

> 10% return 91.0% 97.0% 67.0% 95.0% 88.0% 98.0%

> 15% return 47.0% 66.0% 40.0% 57.0% 38.0% 91.0%

> 20% return 26.0% 34.0% 33.0% 28.0% 5.0% 57.0%

Total Observation 58 58 58 58 58 58

Source: Bloomberg, Sundaram Asset Management

Data since 2015, monthly rolling return analysis, as of March 31, 2025 31
Annexure B

Using multi-factor helps performance across market cycles

Distribution of Factor Rankings (CY2016-CY2024)

BSE 200 22% 78%

Quality 33% 67%
Growth 44% 56%
Value 56% 44%
Momentum 67% 33%
Model Portfolio 78% 22%

Top performer Bottom performer

Top 3 ranks Bottom 3 ranks

Sundaram Multi Factor ranked in the top half in 78% of calendar years vs. other factors and the
benchmark

Source: Bloomberg, Sundaram Asset Management *Q = Quality G = Growth V = Value M = Momentum I = Index
Data as of December 31, 2024 BSE Enhanced Value TRI, BSE Quality TRI, BSE Momentum TRI, Internal Index of 50 top stocks for Growth 32
All returns are indicative and based on model assumptions and underlying indices; actual performance may vary
Disclaimer

This document is issued by Sundaram Asset Management; an investment manager registered with the Securities and Exchange Board of India and is produced for information purposes only. It is
not a prospectus, scheme information document, offer document, offer and solicitation, to name a few, to buy any securities or other investment. Information and opinion contained in this
document are published for the assistance of the recipient only; they are not to be relied upon as authoritative or taken as a substitution for exercise of judgment by any recipient. They are subject
to change without any notice and not intended to provide the sole basis of any evaluation of the instrument discussed or offer to buy. It is neither a solicitation to sell nor shall it form the basis of
or be relied upon in connection with any contract or commitment whatsoever or be taken as investment advice. The information and opinions contained in this communication have been obtained
from sources that Sundaram Asset Management believes to be reliable; no representation or warranty, express or implied, is made that such information is accurate or complete and it should not
be relied upon as such. Sundaram Asset Management neither guarantees its accuracy and/or completeness nor does it guarantee to update the information from time to time. This communication
is for private circulation only and for the exclusive and confidential use of the intended recipient(s) only. Any other distribution, use or reproduction of this communication in its entirety or any
part thereof is unauthorized and strictly prohibited. By accepting this document, you agree to be bound by the foregoing limitations. This communication is for general information only without
regard to specific objectives, financial situations and needs of any person who may receive it, and Sundaram Asset Management is not soliciting any action based on this document. Sundaram Asset
Management in the discharge of its functions, may use any of the data presented in this document for its decision-making purpose and is not bound to disclose the same. Copies of the Statement
of Additional Information, Scheme Information Document and application form with key information memorandum may be obtained from the offices of Sundaram Mutual offices and its
authorized distributors or downloaded from www.sundarammutual.com.

For scheme specific risk factors, asset allocation, load structure, fund facts and taxation aspects please refer scheme information documents available online and at branches/Investor Service
Centres; also, at www.sundarammutual.com

Statutory: Mutual Fund: Sundaram Mutual Fund is a trust under Indian Trusts Act, 1882. Liability for sponsors is limited to Rs 1 lakh. Sponsors: Sundaram Finance Ltd.
Investment Manager: Sundaram Asset Management Company Ltd.
Trustee: Sundaram Trustee Company Ltd.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

RISKOMETER

This product is suitable for investors who are seeking*

• Long term capital growth
• Investment in Equity and Equity related instruments selected based on Multi
Factor Model
*Investors should consult their financial advisers if in doubt about whether the
product is suitable for them.

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