©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully.

Reliance Wealth Management Ltd.Discretionary Portfolio

©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully..

Scope of Analysis:

1. Investment Objective

2. Investment Team

3. Performance

4. Risk Analysis

5. MF Categorywise comparison

©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully.

The objective of the growth portfolio is to provide attractive absolute returns over reasonable periods of time through 'bottom-up' investing in superior and well-growing businesses where the stock is available at reasonable valuations.

1. Investment Objective

©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully.

Pankaj Chopra, CFA (CEO)

Pankaj Chopra is the Chief Executive Officer of Reliance Wealth Management. He has 20 years of experience in portfolio management, investment advisory and business management.

Prior to joining Reliance Capital Group, Pankaj was Head of Client Funds at HDFC AMC, where he managed a range of investment mandates for HNIs, FIIs and domestic companies. Before assuming that role he was a Senior Fund Manager in HDFC Mutual Fund. Pankaj played a critical role in conceptualizing and setting up the mutual fund business for HDFC at inception in July 2000. Before HDFC Mutual Fund, Pankaj worked in HDFC Treasury for roughly 7 years, looking after the equity investments of the company and Investment Advisory mandates. During his stint, Pankaj helped in setting-up a full fledged Equities Research Group within the Treasury and winning several mandates for Investment Advisory to Offshore Funds raised out of the US, UK and Far East markets. For three years from January 1991, Pankaj worked for Batterymarch Financial Management, Boston, MA as their India representative. Pankaj began his career in May 1989 with the US based Centre for International Financial Analysis & Research (CIFAR), Princeton, NJ as a Financial Analyst in their India Office.

Pankaj earned his CFA charter from AIMR, USA as well as ICFAI, India. He is an MBA Finance from the University Of Lucknow, India and a Graduate in Agricultural Sciences from the Govind Ballabh Pant University in Nainital, India. Pankaj serves as Visiting Faculty at several management colleges and regularly takes sessions at the BSE Training Institute related to Investment Management and Derivatives.

Umesh Gupta (Portfolio Manager)

Umesh is a Commerce graduate and an MBA-Finance having more than 11 years of work experience, of which past 6 years have been in Equity research.

He joined Reliance Wealth Management as AVP Research in April’10, Prior to this have worked with Dalal & Broacha Stock Broking Pvt. Ltd. and Sharekhan Ltd. as an Equity research analyst. Prior to that worked with various Finance Companies such as Cholamandalam Investment & Finance Co. Ltd and GE Countrywide Consumer Financial Services Ltd. in various roles such as Business Analyst and Credit & Operations Executive.

He has been tracking Indian stock markets for the last 6 years, advising Institutional clients (Mutual Funds, Insurance) on Equity stock ideas, closely tracked various sectors such as Capital Goods, Engineering, Construction and Fertilizers as a Sell-side Equity Analyst.

2. Investment Team

3. PerformanceGrowth PortfolioTime Period: 2/5/2008 to 9/30/2011

Currency: Indian Rupee

3/2008 9/2008 3/2009 9/2009 3/2010 9/2010 3/2011 9/2011-75.00%

-50.00%

-25.00%

0.00%

25.00%

50.00%

75.00%

100.00%

125.00%

150.00%

175.00%

Reliance Wealth- Growth Portfolios 137.06 BSE 100 India INR -13.35

PerformanceTime Period: 2/5/2008 to 9/30/2011 Currency: Indian Rupee Source Data: Daily Return

Return(Annualised)

AverageGain

Std DevExcessReturn

InformationRatio

(arith)R2

TrackingError

Reliance Wealth- Growth Portfolios

BSE 100 India INR

26.66 1.04 27.64

-3.85 1.29 37.20 0.00 100.00 0.00

30.51 2.24 20.7669.79

Market PerformanceTime Period: 2/5/2008 to 9/30/2011

UpPeriod

Percent

DownPeriod

Percent

BestMonth

WorstMonth

BestQuarter

WorstQuarter

UpCapture

Ratio

DownCapture

RatioR2

Reliance Wealth- Growth Portfolios

BSE 100 India INR

69.87 30.13 34.33 -26.28 65.45 -26.39

100.0067.69 32.31 31.29 -25.97 53.19 -25.46 100.00 100.00

76.52 60.98 69.79

©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully.

4. Risk AnalysisRisk-RewardTime Period: 2/5/2008 to 9/30/2011

Retu

rn

Std Dev

0.00 10.00 20.00 30.00 40.00 50.00-10.00

0.00

10.00

20.00

30.00

40.00 Reliance Wealth- Growth Portfolios

BSE 100 India INR

Risk-ReturnTime Period: 2/5/2008 to 9/30/2011 Currency: Indian Rupee Source Data: Daily Return

Return Std DevDownsideDeviation

Alpha Beta R2Sharpe

Ratio(arith)

TrackingError

Reliance Wealth- Growth Portfolios

BSE 100 India INR -3.85 37.20 0.00

26.66 27.64 12.52

0.00 1.00 100.00 -0.38 0.00

23.39 0.62 69.79 1.16 20.76

©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete oraccurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully.

5. MF Categorywise Comparison

Performance Relative to Peer Group

Peer Group (1-100%): Open End Funds - India - Small/Mid-Cap Source Data: Total, Daily Return

Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile

Retu

rn

1 mnth 3 mnth YTD 1 year 3 years Since Inception-80.0-70.0-60.0-50.0-40.0-30.0-20.0-10.00.010.020.030.040.050.0

Reliance Wealth- Growth Portfolios BSE 100 India INR

©2011 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may not be copied or redistributed, (3) do not consti ute investment advice offered by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. This report is supplemental sales literature, and therefore must be preceded or accompanied by a prospectus and disclosure statement. Please read the prospectus carefully.

Performance Relative to Peer Group

Peer Group (1-100%): Open End Funds - India - Large-Cap Source Data: Daily Return

Top Quartile 2nd Quartile 3rd Quartile Bottom Quartile

Retu

rn

1 mnth 3 mnth YTD 1 year 3 years Since Inception-37.5-30.0-22.5-15.0-7.50.07.515.022.530.037.545.052.5

Reliance Wealth- Growth Portfolios BSE 100 India INR