Investment Portfolio

Top 5 holdings (as at 11 August 2009)

Investment
% of Net Assets
UNITECH
17.20%
INDIABULLS REAL ESTATE LTD
16.38%
HOUSING DEVELOPMENT & INFRAS
14.46%
DLF LTD
10.79%
PHOENIX MILLS LTD
5.11%

Source: Charlemagne Capital (IOM) Limited