Quantum Long Term Equity Value Fund

Panel Discussion on Asset Classes of Equity, Debt & Gold Quantum Long Term Equity Value Fund Speakers: Sorbh Gupta – Fund Manager, Equity February 2022 Chirag Mehta – Sr.Private Fund Manager, Alternative Investments & Confidential December 17, 2020

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TABLE OF CONTENTS About Us About Quantum Mutual Fund

Our Research and Investment Process Overview - Indian Economy QLTEVF Fund Performance Risk, Summary and Conclusion

ABOUT US

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Group Update – The Past 25 Years ➢ Set the foundation for building an India-focused investment management institution across the 4 major asset classes: equity, fixed income, real estate, infrastructure: Steady growth in assets, disciplined approach attracting clients ➢ Need for multiple asset classes to reduce the business risk of being dependent on any ONE product: India is not mainstream - huge volatility in valuations and client interest ➢ 1990 to 2004: investment processes refined by affiliation with international groups ➢ 2004 to 2008: invested in people

➢ 2004 to 2008: incubated teams to diversify business risk ➢ 2008 to 2009: invested in world-class systems ➢ 2010 onwards: maintaining our focus and discipline; succession planning

Our Journey so Far • Quantum Gold Fund • Quantum Nifty ETF • Quantum Tax Saving Fund

• Set up Quantum AMC

2005

2006

• Quantum Long Term Equity Value Fund • Quantum Liquid Fund

2008

• Quantum Gold Savings Fund • India’s first fully paperless Online Investing Platform

2009

• Quantum Equity Fund of Funds • “Path to Profit” Launched

2011

• Quantum Dynamic Bond Fund • Transactions through Email, WhatsApp & Fax

2012

• Quantum Multi Asset Fund of Funds

2015

2016

• Launch of Regular Plans

2017

• Quantum Long Term Equity Value Fund completes 10-year track record

2019

• Quantum India ESG Equity Fund

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About our Sponsor– Quantum Advisors Pvt. Ltd. ➢ Currently managing an AUM of USD 2.61 Billion (~INR 19,671 crore) as February 28, 2022. ➢ Manages Indian equity investments for some of the largest institutions in the world, including Sovereign Wealth Funds, pension funds, endowments, and foundations

➢ Currently registered as a Portfolio Manager with SEBI and other international regulators ➢ Quantum Advisors is 50.8% owned by Mr. Dayal and the Management Team and 49.2% owned by HWIC Asia. HWIC Asia is ultimately promoted and wholly owned by Fairfax Financial Holdings Limited (“FFHL”). FFHL is listed on the Toronto Stock Exchange and is led by Mr. Prem Watsa, known as the Warren Buffet of Canada

ABOUT QUANTUM MUTUAL FUND

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About Quantum Mutual Fund ➢ Quantum Mutual fund was established in 2006 with the launch of the Quantum Long Term Equity Value Fund ➢ Quantum Mutual Fund was the 29th, but India’s 1st Fund house that started with a focus on a Low Cost Approach for investors ➢ Simple range of funds: No confusion for investors ➢ Disciplined Research and Investment Process: Team-driven, no “star” fund managers ➢ Staying the course, no short cuts: Asset Managers, not Asset Gatherers

➢ Quantum MF AUM = Rs.1,947.73 Cr. as on February 28, 2022. ➢ Number of Folios: 75,634 as on February 28, 2022.

Company Structure Quantum Advisors, India (QAS), provides investment advisory services and manages portfolios of FIIs and Indian clients. Registered as Portfolio Manager with SEBI since 1997. It is led by Mr. I. V. Subramaniam (Subbu), who is the MD & Group Head (Equities) of the company.

• Subbu joined Quantum in 1996 and has over 25 years of experience in the investment management and financial services industry. Since June 2000, Subbu has managed India-dedicated portfolios for Indian clients and since 2005, he has managed India-dedicated portfolios for international clients. Subbu received his Bachelor’s degree in commerce from Osmania University in 1983 and his Law degree from Osmania University in 1986. He is a CFA Charter holder.

100% subsidiary of QAS Quantum Asset Management, India (QAMC) SEBI Registered Asset Management Company and Investment manager for Quantum Mutual Fund. It is led by Mr. Jimmy Patel, who is the MD & CEO of the company.

• Jimmy Patel joined Quantum in 2010 and has over 3 decades of experience in the financial services sector, and has held various key management roles. Along with holding a Chartered Accountant’s degree, Mr. Patel has also completed his L.L.B. from the University of Mumbai. Mr. Patel is a Fellow of the Chevening Standard Chartered Financial Services Leadership Programme at Kings College, London. He has been a Director on Association of Mutual Funds In India (AMFI) Board and also has been a member of various AMFI and SEBI Committees.

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Always Putting Investors First, Even Above our Growth in AUM Quantum Mutual Fund

SEBI Imposes Rule on MF Industry

Refused to follow the opaque Entry Load Model

Mar 2006

Jun 2009

Pioneered Direct to Investor, despite Slow Internet Speed and No Smart Phones

Mar 2006

Jan 2013

One Scheme / product per asset class

Mar 2006

Oct 2017

Exit Load swept into funds for the benefit of Unit Holders

Mar 2006

Nov 2012

No Discrimination against Retail Investors

Mar 2006

Sep 2012

Introduced the practice of following Total Return Index (TRI) as benchmark for Equity Fund

Mar 2006

Jan 2018

Majority of Independent Directors on AMC Board

Mar 2006

?

Path to Profit (Investor Education & Awareness Program)

Aug 2009

Sep 2012

100% Independent Board of Trustees

Oct 2010

?

Mark to Market valuation in Liquid Fund, irrespective of the maturity

Jul 2012

April 2020

ZERO Upfront Distributor Commission and uniform trail commission across all partners on Regular Plan

Apr 2017

Sep 2018

TER based on AUM Slabs

Feb 2017

April 2019

Profile of Management Team - QAMC Jimmy Patel

MD & CEO (2010) Jimmy Patel has over 3 decades of experience in the financial services sector, and has held various key management roles. Along with holding a Chartered Accountant’s degree, Mr. Patel has also completed his L.L.B. from the University of Mumbai. Mr. Patel is a Fellow of the Chevening Standard Chartered Financial Services Leadership Programme at Kings College, London. He has been a Director on Association of Mutual Funds In India (AMFI) Board and also has been a member of various AMFI and SEBI Committees.

Rina Nathani

Chief Business Officer (2020) Rina has over 20 years of experience in building businesses, advising companies and leading teams to successful outcomes. Prior to joining Quantum AMC, Rina was a Director in KPMG’s Advisory Practice in the US and Head – Retail Businesses at Suminter India Organics, India. She has done Masters in Management Studies from Jamnalal Bajaj institute of Management Studies (JBIMS).

Malay Vora Head - Legal & Compliance (2008) Malay Vora has more than 15 years of experience in Legal, Compliance and Corporate Secretarial matters in the financial service industry. He is a Commerce and Law Graduate and an Associate Member of Institute of Company Secretaries in India. Malay is the Head of Legal & Compliance and the Compliance Officer for Quantum AMC. He has been associated with Quantum since 2008. He has been a member of SEBI and AMFI Committee.

Sandeep Bhosle VP - Investor Interaction (2011) Sandeep Bhosle has more than 18 years of experience in Financial Services and Market Research. He a Post Graduate in Marketing Management. He has Completed Medium and Small Scale Industries Management Development Program from NMIMS. Prior to Quantum AMC, he has been with ICICI Prudential and Birla Sunlife Insurance and has been instrumental in developing Rural Markets and New Initiatives, Process Quality, Loyalty Programs, R&R Initiatives.

Rajendra Gadiyar Head - Operations (2011) Rajendra brings with him more than 2 decades of experience in Operations and Fund Accounting in Mutual Funds and Insurance. Prior to joining Quantum, he was associated with various companies across Insurance, Asset Management and Investment Management sectors.

Meera Shetty

Head - Investor Services (2006) Meera Shetty has almost two decades of experience in Investor Servicing. Before joining Quantum, she was associated with Edelweiss AMC, Principal AMC and UTI-TSL. She holds a degree in Commerce and is an MBA with dual specialization in Finance and Marketing.

Portfolio Team

Sorbh Gupta

Nilesh Shetty

(2011) - Equity

(2009) -Equity

Sorbh has more than 16 years of experience in equity research as well as managing funds. At present he’s the Fund Manager for Quantum Long Term Equity Value Fund & Quantum Tax Saving Fund. He’s Qualified as a Chartered Accountant and has completed all the 3 levels of CFA. Sorbh brings with him a wealth of experience of having tracked varied sectors in his previous work assignments.

Prior to joining Quantum, he was associated with Siddhesh Capital Private Ltd.

Nilesh has more than 18 years of experience in research. He has been a part of Quantum Asset Management Company since 2009, and at present is the Fund Manager for Quantum Long Term Equity Value Fund and Quantum Multi Asset Fund of Funds. Nilesh is a qualified CFA (Chartered Financial Analyst), ACMA (CIMA, UK) and has completed his Masters in Management Studies (Finance) from the Mumbai University.

Sneha Joshi (2015) – Alternative Investment

Sneha has over 9 years of experience in economic, credit and quantitative research. She holds a Ph.D. in Economics and has earned an M.A. in Economics from Gokhale Institute of Politics and Economics. She joined Quantum AMC in August, 2015. Prior to joining Quantum, she was associated with Credit Capital Research as a fixed income research analyst.

Hitendra Parekh (2004) - Equity Hitendra has close to 3 decades of experience in financial services industry.

Prior to working with Quantum, he has been with the Unit Trust of India for 4 years and UTI Securities Ltd for 9 years. He has completed his B.Com & Masters in Financial Management from Mumbai University.

Portfolio Team

Pankaj Pathak (2013) – Fixed Income Pankaj has over 12 years of experience in Fixed income investments and research.

He joined Quantum Asset Management Company in August, 2013 and at present, is Fund Manager for Quantum Dynamic Bond Fund and Quantum Liquid Fund.

Prior to joining Quantum, he was associated with Bank of Maharashtra.

Pankaj holds a Post Graduate Diploma in Banking & Finance from National Institute of Bank Management, Pune and is qualified CFA (Chartered Financial Analyst).

Chirag Mehta (2006) – Gold/Commodities Chirag has 19 years of experience in the Indian commodities markets. He also specializes in the field of alternative investment strategies. He is a qualified CAIA (Chartered Alternative Investment Analyst), and has also completed his Masters in Management Studies in Finance. He currently manages funds largely in the field of alternative investments that includes Gold Fund, a Multi Asset Fund of Funds and an Equity fund of funds and is also a Fund Manager of Quantum India ESG Equity Fund. He joined the Quantum after gaining hands on experience in the physical commodities market during internship with Kotak & Co. Ltd and working on projects for the Federation of Indian Commodities Exchanges.

Ghazal Jain (2020) – Gold/Commodities Ghazal has over 5 years of experience in the field of finance and alternative investments including of Gold, Asset Allocation and Personal Finance & investment allocation. She has been with Quantum Asset Management Company since January, 2019. Prior to joining Quantum, she was associated with Fox Education LLP and Bahubali Electronics Private Limited

Criteria to Select a Good Fund House PEOPLE

• What is the background?

• What is the experience?

PHILOSOPHY

• Is there a clearly defined investment philosophy across all market situations or is this a ride-the-wave, “bull-market” manager?

PROCESS

• What is the research and investment process and how reliable is it?

PERFORMANCE

• Given the process, is the performance as predictable as it should be?

Diversify your investments with our easy 12-20-80* Asset Allocation Strategy

Please note the above is a suggested fund allocation and not to be considered as an investment advice or recommendation

OUR RESEARCH & INVESTMENT PROCESS

Stock Markets Offer Real Opportunities ➢ Market cap: USD 3,252.16 bn

➢ 4,000+ listed companies ➢ 314 companies market cap > USD 1 bn ➢ 886 companies market cap > USD 100 mn ➢ Daily trading volume USD 21.92 million/day for the period March 2021– Feb 2022 ➢ 755 companies with daily avg traded > USD 1 mn

➢ 563 companies with daily avg traded > USD 2 mn ➢ Represents many “real” industries: not only financial services and property stocks ➢ Equity culture – Bombay Stock Exchange over 130 years – oldest in Asia ➢ Newer electronic NSE is the 3rd largest stock exchange in the world by volume Source: Quantum AMC, Bloomberg, SEBI and Tata Services Ltd As of February 28th , 2022

Our Macro Assumptions The 4 inputs to our bottom-up stock selection process Our estimate

Current readings

Comments

GDP, long-term

6.0% to 6.5% (Old Series*)

9.2% (Advanced Est. FY -22)

Recovering at steady pace, supported by gov expenditure and export demand.

GDP growth for FY-23 to be at 8.1%.

Inflation

5.0% to 5.5%

4.91%

CPI inflation is likely to remain close 5.4% in FY22.

10-year bond

Long term: 7.0% to 7.5% Short term: 6.25%-6.75%

6.55%

Potential liquidity tightening and rate hike will likely put upward pressure on bond yields.

FX rates

+/-2% (INR /USD in a 73-78 band)

INR/USD ~74.2

Monetary policy tightening in US will put pressure on INR. However, RBI has enough FX reserves to buffer any sharp depreciation.

Source: Quantum Advisors estimates, as of December 2021 *The number is from a changed data series starting Jan 2015. While a “superior” series, there is no comparable number to equate the “New” with the “Old”.

Value Investing– Quantum Mutual Fund ➢ We follow the Value investing strategy that involves buying companies at discounts to their long-term intrinsic value ➢ We focus on the long term potential of the business

➢ We normalize our assumptions - we do not value the companies on the basis of peak or trough margins ➢ While valuing the company, we would generally give a 40% discount to its intrinsic value to set our buy limits ➢ Typical characteristics of the portfolio following Value Investing strategy: • • • • •

Low price to earnings ratio Low price to book ratio Low price to sales multiple Low price to cash flow High dividend yield

Our Investment Criteria - Value

01 Evaluate

02 Analyze

03 Buy

04 Sell

• The business of the company • The environment in which it operates • The management, and their long-term goals • Can the financials support the longterm goals?

• The stock price of the company based on fundamentals relative to its peer group, its history, and the market

• Current price is generally 40%+ lower than our estimate of longterm value (in case of first time buy)

• Current price is > our estimate of longterm value • Better Investment Alternatives • Changed view of management, Changed view of business

• PER, PCF, P/BV, Div Yld, EV/EBITDA

Quantum’s Bottom-Up Stock Selection Process Clients get best of bottom-up ideas with a risk control measurement for each sector Generally, < 20% of the stocks we cover meet our “Buy” criteria

PORTFOLIO

25 to 40 stocks

Portfolio of stocks with broad exposure to various sectors.

Approved by the portfolio team Reflects three broad themes: domestic consumption, exports and infrastructure

VALUE AND INTEGRITY SCREENING

201 stocks

Analysts study stocks in their sector (India) with global comparison, travel worldwide, prepare detailed projections. Regular research meetings to review ideas and approve stocks for the database. Consensus required.

All stocks are reviewed time to time generally within 180 days.

We must trust the managements/founders

ADDRESSABLE UNIVERSE

327 stocks

Number of companies trading over US $1 million/day

Number of stocks mentioned are as per current average trading volume value criteria. The number of Stock in trading volume criteria, and in portfolio will be changed from time to time based on Investment Strategy of the scheme.

Portfolio Construction Stock under active coverage?

Volume INR 6.98 Crs per day

No

To research team

YES

Part of S&P BSE-30 Index?

No effect on decision

No

Below Buy limit?

Wait

YES

What sector?

Indifferent; guided by Research

Portfolio of 25-40 stocks Investment Rules Minimum wt 2% at cost Maximum wt 6% at cost Maximum wt 10% at market value

Weights assigned to a stock are a function of: 1) Reliability of management 2) Quality of earnings 3) Stability of earnings 4) Upside Potential 5) Alternatives/Cash

Our portfolio turnover is typically 20%, suggesting a 5 year holding period. Please refer Scheme Information Document of the Scheme for complete Investment Strategy

A Tale Of Two Stocks – Since 1991 (1) We buy liquid shares of good businesses

(2) Illiquid stocks give managers the fees – investors get nothing

Source: Source:Bloomberg BloombergFinance FinanceL.P., L.P.,As Asof of February October 28, 29, 2022 2021

Disclaimer : The stocks discussed herein are for information purpose only. This is not a recommendation to buy or sell any security.

OVERVIEW- INDIAN ECONOMY

Myth #1- “India will grow 8% P.A” If the world slips sideways, India will grow...as it has over the past 39 year We believe 6.5% Real GDP growth is a realistic long term assumption

Source: RBI and www.parliamentofindia.nic.in as of December 2021. Note: The number in red rectangle is from a changed data series starting Jan 2015. While a “superior” series, there is no comparable number to equate the “New” with the “Old”. Most economists deduct 0% to 1.5% from the “New” to equate to the “Old”; therefore under Modi, the GDP has been at 5.9% at best matching the 5.6% under the BJP-led coalition government of Vajpayee that resulted in a rout for the BJP at the time of the next election in 2004!* Please note that data used for World GDP for 2017 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 February 2022.

Myth #2 – Make in India will Boost Exports 100% 80% 60%

Sector Contribution To GDP

29

0%

53

15

25

40% 20%

41

30

56

1951

Industry Agriculture

34 8

Services

18

18

Exports

6

1991

2015 Source: Quantum AMC, Google Images, Bloomberg Finance L.P.

Indians Still Consuming: The Hungry Consumers!

Year (March end)

2-wheelers (Domestic sales Mn units)

Passenger Vehicles (Domestic sales Mn units)

Refrigerators (Production Mn units)

Cement (mn tn)

Home loans outstanding (Rs. bn)

2008

8,064,903

1.6

6.1

174

2,603

2009

8,439,786

1.6

6.7

187

2,794

2010

10,511,009

2.0

8.0

207

3,009

2011

13,302,335

2.5

8.7

216

3,499

2012

15,384,261

2.6

9.9

230

3,971

2013

15,753,563

2.7

11.1

248

4,567

2014

16,890,778

2.5

10.7

256

5,386

2015

18,433,027

2.6

12.0

270

6,285

2016

18,938,727

2.8

11.9

283

7,468

2017

19,928,958

3.1

13.1

280

8,601

2018

23,007,691

3.3

13.5

298

9,746

2019

24,460,688

3.4

15.6

337

11,601

2020 2021

20,936,201

2.7

15.0

334

13,498

18,397,111

2.5

11.2

294

14,591

2022 YTD *

14,960,116

2.1

7.8

285

15,530

CAGR (since 2008 till 2021)**

6.5%

3.8%

4.8%

4.1%

14.2%

*2022 YTD data, Two-wheeler sales data as on January‘ 22, Passenger Vehicle sales Data as on January’ 22, Refrigerator data as on December’ 21, Cement sales data as on January’ 22, Housing loans data as on January’ 22, Latest cell phone connections data as on January’ 22 Source: 2 wheeler passenger vehicle and Cement – CMIE database; refrigerator production data – CMIE (IIP ) database, home loans outstanding – RBI Data on Sectoral deployment of bank credit (January 2022). ** Annualized Returns..

India – Linked to Global Capital Flows, Not GDP As a % of GDP

Private Consumption

Exports of Goods & Services

India

58.8

19.2

China

39.3

19.6

Indonesia

57.7

19.1

Thailand

50.7

68.9

Malaysia

54.9

67.7

Brazil

64.0

12.5

Russia

51.5

25.7

GDP

https://data.worldbank.org/indicator/NY.GDP.MKTP.CD

Pvt consumption

https://data.worldbank.org/indicator/NE.CON.PRVT.CD

Exports (Goods & Services)

https://data.worldbank.org/indicator/NE.EXP.GNFS.CD

Lower global links

Source: World Bank database Updated as of March 31, 2021

Performance of the Fund

Fund Manager

Quantum Long Term Equity Value Fund

Category of Scheme

Features

Useful for

Mr. Sorbh Gupta Work experience: 16.5 years. He has been managing this fund Since December1, 2020.

Mr. Nilesh Shetty Work experience: 18.2 years. He has been managing this fund Since March 28, 2011.

Value Fund

▪ ▪ ▪ ▪ ▪

QLTEVF uses bottom-up stock selection process used to minimize risk.

QLTEVF Follows disciplined research and investment process.

QLTEVF has a low portfolio turnover.

QLTEVF holds cash when stock are overvalued - no derivatives and no hedging.

QLTEVF contains a well-balanced portfolio: typically, 25 to 40 stocks, across sector.

Retirement.

Child’s Education.

Child’s Marriage.

Wealth Creation.

Quantum Long Term Equity Value Fund – Must have equity diversified fund Value Oriented Equity Diversified Fund since March 2006 Well balanced portfolio: typically 25 to 40 stocks, across sectors Instrumental for Long Term Financial Goals like Retirement, Child’s Education, Child’s Marriage & Wealth Creation A disciplined research and investment process Low portfolio turnover: Very boring, Buy after Conviction, Hold it for long Holds shares or cash: No derivatives, No hedging

Performance across the market cycles - (Mar 2006 – February 2022)

Data as on 28th February 2022. Past performance may or may not be sustained in future.

This graph should be reviewed in conjunction with detailed performance of the scheme provided on slide number 33 Source: Bloomberg

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.

Current Value of 10,000 Invested at the beginning of a given period Tier 1 Benchmark

Tier 2 Benchmark

Additional Benchmark

S&P BSE

S&P BSE

S&P BSE

500 TRI*

200 TRI**

Sensex TRI

(%)

(%)

(%)

12.12% 11.50% 9.26% 9.61% 12.53%

18.67% 18.45% 14.72% 11.76% 14.26%

17.92% 18.13% 14.88% 11.70% 14.26%

15.65% 17.49% 15.73% 11.20% 13.76%

13.32%

12.38%

12.51%

12.39%

Period Scheme Returns (%)

1 year 3 years 5 years 7 years 10 years Since Inception (13th Mar 2006)

Tier 1 Benchmark

Tier 2 Benchmark

Additional Benchmark

S&P BSE

S&P BSE

S&P BSE

500 TRI*

200 TRI**

Sensex TRI

(Rs)

(Rs)

(Rs)

11,219 13,865 15,572 19,025 32,576

11,878 16,626 19,874 21,793 37,962

11,802 16,493 20,015 21,714 37,960

11,574 16,224 20,766 21,037 36,316

73,720

64,595

65,798

64,683

Scheme (Rs)

Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation. Data as of 28th February 2022 Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). *with effect from December 01, 2021 Tier 1 benchmark has been updated as S&P BSE 500 TRI. As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR S&P BSE 500 index PRI Value from March 13, 2006 to July 31, 2006 and TRI Value since August 1, 2006. **with effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR S&P 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. Sorbh Gupta please see slide number 43 and for performance of other Schemes Managed by Mr. Nilesh Shetty please see slide 43

SIP Performance - Direct Plan - Growth Option SIP Investments

Since Inception 10 year SIP SIP

7 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (`‘000)

1910

1200

840

600

360

120

Mkt Value as on February 28, 22 (`‘000)

5878

2237

1246

806.1

465.3

119.7

S&P BSE 500 TRI (`‘000)

6003

2619

1446

906.8

500.2

123.6

S&P BSE 200 TRI (`‘000)

6021

2611

1446

905.4

495.2

123.7

S&P BSE Sensex TRI (`‘000)

5780

2543

1444

902.6

481.1

123.8

Returns (XIRR*) (%)

12.9%

12.0%

11.1%

11.8%

17.6%

-0.5%

S&P BSE 500 TRI (XIRR*) (%)

13.2%

15.0%

15.3%

16.6%

22.8%

5.7%

S&P BSE 200 TRI (XIRR*) (%)

13.2%

14.9%

15.3%

16.6%

22.1%

6.0%

S&P BSE Sensex TRI (XIRR*) (%)

12.8%

14.4%

15.3%

16.4%

20.0%

6.0%

Data as of 28th February 2022 Past performance may or may not be sustained in the future. Load is not taken into consideration using applicable NAV on the SIP day (5th of every month). Return on SIP and Benchmark are annualized and compounded investment return for cash flows resulting out of uniform and regular monthly subscriptions as on 5th day of every month (in case 5th is a non-Business Day, then the next Business Day) and have been worked out using the Excel spreadsheet function known as XIRR. XIRR calculates the internal rate of return for series of cash flow. Assuming Rs 10,000 invested every month on 5th day of every month (in case 5th is a non-Business Day, then the next Business Day), the 1 year, 3 years, 5 years, 7 years, 10 years and since inception returns from SIP are annualized and compounded investment return computed on the assumption that SIP installments were received across the time periods from the start date of SIP from the end of the relevant period viz. 1 year, 3 years, 5 years, 7 years, 10 years and since Inception. *XIRR - XIRR calculates the internal rate of return to measure and compare the profitability of series of investments. #Benchmark Returns. @Additional Benchmark Returns.

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.

Current Value of 10,000 Invested at the beginning of a given period Period Scheme Returns (%)

Tier 1 – Benchmark

Tier 2 Benchmark

Additional Benchmark

S&P BSE

S&P BSE

S&P BSE

500 TRI*

200 TRI**

Sensex TRI

(%)

(%)

Scheme (Rs)

(%)

Tier 1 Benchmark

Tier 2 Benchmark

Additional Benchmark

S&P BSE

S&P BSE

S&P BSE

500 TRI*

200 TRI**

Sensex TRI

(Rs)

(Rs)

(Rs)

1 year 3 years

11.56% 10.94%

18.67% 18.45%

17.92% 18.13%

15.65% 17.49%

11,163 13,658

11,878 16,626

11,802 16,493

11,574 16,224

Since Inception (01st Apr 2017)

8.50%

14.10%

14.32%

15.28%

14,935

19,129

19,316

20,123

Past performance may or may not be sustained in the future. Load is not taken into consideration in scheme returns calculation. Data as of 28th February 2022 Returns are calculated on the basis of Compounded Annualized Growth Rate (CAGR). *#with effect from December 01, 2021 Tier 1 benchmark has been updated as S&P BSE 500 TRI. As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR S&P BSE 500 index PRI Value from March 13, 2006 to July 31, 2006 and TRI Value since August 1, 2006. **with effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR S&P 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. Sorbh Gupta please see slide number 43 and for performance of other Schemes Managed by Mr. Nilesh Shetty please see slide 43 .

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80.00%

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Jul-06

Mar-06

QLTEVF Monthly Cash Weight - Move To Cash When There Is No Value And Wait Patiently Month end Cash Weight (Other than Equity & Including CBLO and TREP)

70.00%

60.00%

50.00%

40.00%

30.00%

20.00%

10.00%

0.00%

Source: Quantum AMC. As of 28th February 2022

While Avoiding The “Illiquidity Trap” Is Critical To Our Investment Process, We Are Not Shy Of Owning Small Caps Market Cap

Dec 2016

Dec 2017

Dec 2018

Dec 2019

Dec 2020

Jan 2022

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

> INR 35,000 Crs

19

75%

17

75%

19

75%

17

69%

21

75%

21

77%

> INR 5,000 Crs,< INR 35,000 Crs

4

11%

3

9%

5

15%

8

18%

7

17%

8

15%

>INR 3,000 Crs,< INR 5,000 Crs

0

0%

1

3%

0

0%

0

0%

0

0%

0

0%

< INR 3000 Crs

1

2%

0

0%

1

2%

1

1%

1

1%

0

0%

Total Stocks in portfolio

24

88%

21

87%

25

92%

26

88%

29

93%

29

92%

Data as of 28th February 2022 Source : Bloomberg. The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.

Divergent Portfolio - Not the Index for Sure!

Even though we focus on buying liquid stocks, we do not necessarily buy Index stocks

Reliance Industries Ltd HDFC Bank Ltd

S&P BSE-200 Index (Weight)

Do we own it in the QLTEVF?

Change for the month ended January 31, 2022

8.33%

#N/A

-1.14%

6.43%

8.08%

-1.12%

6.39%

6.13%

-3.96%

5.28%

5.53%

-5.93%

4.38%

7.76%

-6.19%

30.81%

27.50%

-18.34%

Infosys Ltd ICICI Bank Ltd Housing Development Finance Corp Ltd Total

Source: Quantum Asset Management Company Pvt Ltd and Asia Index Pvt Ltd As of 28th February 2022 Stocks referred above are for illustrative purpose only and 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 should not be constructed as research Report or recommendation to buy or sell of any stocks.

Portfolio Top 5 Holdings – Different Weights QLTEVF (Weight)

S&P BSE-200 TRI (weight)

Housing Development Finance Corporation Ltd

8.08%

6.43%

Infosys Ltd

7.76%

4.38%

HDFC Bank Ltd

6.13%

6.39%

ICICI Bank Ltd

5.53%

5.28%

State Bank of India

4.13%

1.90%

Total

31.63%

24.38%

Source: Quantum Asset Management Company Pvt Ltd and Asia Index Pvt Ltd. As of 28th February 2022 Stocks referred above are for illustrative purpose only and 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 should not be constructed as research Report or recommendation to buy or sell of any stocks

Sector Exposure of Our Bottom-Up Stock Picking Process Sector

Communication Services Consumer Disc.

Consumer Staples Energy Financials Healthcare Industrials Materials Real Estate Technology Utilities Cash Equiv.

Total No. of Securities

MSCI AC World November 2019

S&P BSE-30 QLTEVF Index December November 2016 2019

QLTEVF December 2017

QLTEVF QLTEVF QLTEVF December December December 2018 2019 2020

QLTEVF January 2022

9%

2%

2%

2%

2%

0%

0%

0%

11% 8% 5% 17% 12% 10% 5% 3% 17% 3% 0% 100% 3,060

6% 8% 13% 47% 1% 4% 3% 0% 14% 2% 0 100% 31

23% 0% 9% 16% 3% 3% 5% 0% 14% 13% 12% 100% 24

24% 0% 3% 14% 6% 1% 4% 0% 15% 14% 19% 100% 21

19% 0% 3% 25% 6% 2% 7% 0% 17% 12% 8% 100% 25

19% 0% 2% 30% 5% 0% 8% 0% 17% 11% 8% 100% 26

17% 0% 2% 29% 6% 2% 10% 0% 17% 10% 7% 100% 29

17% 0% 2% 30% 5% 2% 10% 0% 16% 10% 8% 100% 29

Note: Past Performance may or may not be sustained in future. Source: MSCI, Quantum AMC | As of 28th February 2022 Sectors referred above are for illustrative purpose only and 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 should not be constructed as research Report or recommendation to buy or sell of any sectors / stocks.

Portfolio Top 10 Holdings Stocks

Weights

Housing Development Finance Corporation Ltd

8.08%

Infosys Ltd

7.76%

HDFC Bank Ltd

6.13%

ICICI Bank Ltd

5.53%

State Bank of India

4.13%

Mahindra & Mahindra Ltd

4.12%

ACC Ltd

3.71%

Tata Steel Ltd

3.59%

Wipro Ltd

3.42%

Hero MotoCorp Ltd

3.35%

Total

49.82%

Source: Quantum Asset Management Company Pvt Ltd. As of 28th February 2022 Stocks referred above are for illustrative purpose only and 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 should not be constructed as research Report or recommendation to buy or sell of any stocks.

Stocks we Own are Liquid Dec 2016

Dec 2017

Dec 2018

Dec 2019

Dec 2020

Jan 2022

No of trading days to sell positions

Number of stocks

Weight

Number of stocks

Weight

Number of stocks

Weight

Number of stocks

Weight

Number of stocks

Weight

Number of stocks

Weight

Less than 1 day

20

77%

17

71%

21

78%

21

76%

26

87%

27

90%

1 day to 5 days

4

11%

2

3%

2

8%

4

14%

3

6%

2

2%

5 days to 22 days

0

0

2

6%

2

7%

1

2%

0

0%

0

0%

> 22 trading days

0

0%

0

0%

0

0%

0

0%

0

0%

0

0%

Total Stocks in portfolio

24

88%

21

81%

25

93%

26

92%

29

93%

29

92%

Source: Bloomberg. Data as on 28th February 2022 . Based on average daily volume of portfolio stocks for the last one year and Quantum’s trading share of 33%.

The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme. .

Other Schemes managed by Sorbh Gupta and Nilesh Shetty Quantum Tax Saving Fund Mr. Sorbh Gupta is the Fund Manager effective from October 1, 2016.

Period

Feb 26, 2021 to Feb 28, 2022 (1 year)

Scheme

Quantum Tax Saving FundDirect Plan (Gr) Quantum Tax Saving FundRegular Plan (Gr)

Feb 28, 2019 to Feb 28, 2022 (3 years)

Tier 1 Tier 2 Benchmark (%) # Benchmark (%) #

Scheme

Feb 28, 2017 to Feb 28, 2022 (5 years)

Tier 1 Tier 2 Tier 1 Tier 2 Scheme Benchmark (%) # Benchmark (%) # Benchmark (%) # Benchmark (%) #

Returns (%)

Returns (%) #

Returns (%) ##

Returns (%)

Returns (%) #

Returns (%) ##

Returns (%)

Returns (%) #

Returns (%) ##

12.28%

18.67%

17.92%

11.64%

18.45%

18.13%

9.35%

14.72%

14.88%

11.75%

18.67%

17.92%

11.10%

18.45%

18.13%

N.A.

N.A.

N.A.

Past performance may or may not be sustained in the future. Data as of 28th February 2022 #S&P BSE 500 TRI ##S&P BSE 200 TRI. With effect from February 01,2020 benchmark has been changed from S&P Sensex TRI to S&P BSE 200 TRI. Returns are net of total expenses and are calculated on the basis of Compounded Annualized Growth Rate (CAGR). Mr. Sorbh Gupta co-manages 2 scheme of the Quantum Mutual Fund.

Quantum Multi Asset Fund of Funds Mr. Chirag Mehta and Mr. Nilesh Shetty are Fund Managers effective from July 11, 2012.

Period

Feb 26, 2021 to Feb 28, 2022 (1 year)

Feb 28, 2019 to Feb 28, 2022 (3 years)

Feb 28, 2017 to Feb 28, 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)

6.95%

10.31%

9.25%

12.93%

8.19%

11.42%

Quantum Multi Asset Fund of Funds* – Regular Plan (Gr)

6.56%

10.31%

8.92%

12.93%

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 28th February 2022 #Benchmark has been changed from Crisil Composite Bond Fund Index (40%) + S&P BSE SENSEX Total Return Index (40%) + Domestic price of gold (20%) to CRISIL Composite Bond Fund Index (20%) + S&P BSE Total Return Index (40%) + CRISIL Liquid Index (25%) + Domestic Price of Gold (15%) with effective from April 01, 2021. 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). Mr. Chirag Mehta manages 5 schemes of the Quantum Mutual Fund. Mr. Nilesh Shetty manages 2 schemes of the Quantum Mutual Fund.

RISK, SUMMARY AND CONCLUSION

45

Impact/Risk Analysis on The Portfolio – A Top-down View for Presentation Purposes Dec 2016

Dec 2017

Dec 2018

Dec 2019

Dec 2020

Jan 2022

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Weight Stocks

Local Opportunity

6

25%

5

24%

10

39%

11

41%

11

42%

12

40%

Global opportunity

11

41%

11

40%

10

39%

9

37%

12

40%

12

40%

Regulatory/Tariff

7

22%

5

17%

5

15%

6

14%

6

11%

5

12%

Total Stocks in Portfolio

24

88%

21

81%

25

93%

26

92%

29

93%

29

92%

Source: Quantum AMC. Data as on February 28, 2022 Note: Companies where bulk of the sales come from India are classified under Local Opportunity Companies where 25% or more, sales come from outside India are classified under Global Opportunity Companies which have their pricing determined by government policies are classified under Regulatory/Tariff The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.

Indian Private /MNC/ Government Dec 2016

Events

Dec 2017

Dec 2018

Dec 2019

Dec 2020

Jan 2022

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Number of Stocks

Weight

Government

8

26%

6

21%

7

19%

7

19%

7

14%

6

16%

Indian Private

10

41%

8

35%

12

47%

12

45%

12

44%

13

42%

MNC

6

21%

7

25%

7

27%

7

28%

10

35%

10

34%

Total Stocks in Portfolio

24

88%

21

81%

26

93%

26

92%

29

93%

29

92%

Source: Quantum AMC. Data as on February 28, 2022. The number of stocks in portfolio will be changed from time to time based on Investment Strategy of the Scheme.

The Portfolio Relative To The S&P BSE-30 Index As % Of

S&P BSE-30

S&P BSE-30 Index

Index**

29

97.00%

30

9,905

29.00%

34,582

1.94%

162.00%

1.20%

13.4x

65.00%

20.50x

25.5%

105.00%

24.30%

0.50x

62.00%

0.8x

19.00x

67.00%

28.50x

63.00%

71.00%

89.00%

20.00%

35.26%

56.00%

QLTEVF Number of equity stocks Median market capitalization (USD mn) Weighted dividend yield Weighted PER: March 2023E Weighted EPS Growth: March 2023E PEG Ratio (excludes cash) 2023E T12M PE Weightage of stocks with PER > 20 Weightage of stocks with PER > 30

Source: Quantum Asset Management Company Pvt Ltd; As of 31st January 2022, | cash weight excluded | ** S&P BSE-30 Index weight is based on free-float. % S&P BSE 30 Index column depicts the Fund fundamentals as a percentage of S&P BSE 30 Index fundamentals. 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 S&P BSE 30 as of the reporting date i.e. February 28, 2022.

48

Summary: A significant allocation to public equities using a disciplined, long-term, bottom-up, value-driven research and investment process for investing in the evolving Indian stock markets ➢ Overall, economic policy is geared towards growth ➢ India is a party to global trade and tariff agreements

➢ Political “risk” exists – but effect is more on specific sector reforms, rather than overall direction ➢ Indian companies and entrepreneurs have oriented themselves to live – and thrive – in free markets: world class management

➢ While the macro-economy looks good, fiscal deficits could rekindle inflationary pressures, a hardening interest rate environment will put growth on a +6% trajectory ➢ Infrastructure: Lot of talk, little action – inflection point?

➢ Yes, shake hands – but count how many fingers you get back!

India – A Wonderful Long-term Theme, But On A Bumpy Road Requires

Our Tried and Tested Research and Investment Process to give Clients with a Long-term investment philosophy a Channel that aims to outperform on the Upside and limits the Downside

Product Label

QLTEVF-Benchmark Product Labe-11

Product Label

Product Label

Product Label

Product Label

Product Label

For additional information, please contact: Sandeep Bhosle VP- Customer Interaction Email: SandeepB@QuantumAMC.com Mobile: +91- 98-209-43101 Office :+91-22-6144-7804 Fax :+91-22-2285-4318 Website: www.QuantumAMC.com

Quantum Asset Management Company Private Limited Hoechst House, 6th Floor, Nariman Point Mumbai-400021, India

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.

21st March 2022 Mutual fund investments are subject to market risks, read all scheme related documents carefully.

Thank You 58