Wealth review for Example Investor (Not A Client)

Appendix A. All your shareholdings

You hold 6 shareholdings worth ₹14.75 L. On our spread measure they score 74 out of 100 (reasonably spread), and the largest sector is Financials at 41.6%. 2 companies are above our single-company limit. At current dividend yields they may pay about ₹42,110 a year, though actual dividends vary.

Appendix B. Sectors, company size and spread score

Appendix C. Mutual funds in detail

You hold 5 mutual funds worth ₹14.95 L: ₹13.85 L in equity funds and ₹1.11 L in cash funds. Cost is not on record for HDFC Flexi Cap Fund, ICICI Prudential Technology Fund, Parag Parikh Flexi Cap Fund, Nippon India Small Cap Fund and HDFC Liquid Fund, so their gains are not included. Compared with all funds in their category, HDFC Flexi Cap Fund is in the top quarter. Thematic funds are not ranked, because they invest in unrelated sectors.

Appendix D. Tax on step 1, holding by holding

• A gain is the sale value minus the purchase cost of the units sold, oldest purchases first; a figure below zero is a loss.
• Gains already made this financial year (since 1 Apr 2026): short-term ₹0, long-term ₹0, still being checked. The tax on step 1 is the extra tax on top of the tax on those gains.
• Tax on step 1: not yet known. No purchase cost is on record for the holdings it sells; it is worked out once your purchase records are checked.

Appendix E. How we prepared this review

Where the numbers come from

• Shares: the holdings in the statement you shared, valued at closing prices of 1 Oct 2026; purchase costs are added from the documents you share.
• Mutual funds: the units in the statement you shared, valued at the net asset values (NAVs) of 2 Oct 2026 published through AMFI.
• Company sector, company size and dividend yield: our market data provider (as of 2 Oct 2026).
• SIPs and transfers between funds: transactions of the last 45 days. Cash: the ledger balance of your trading account.
• Assets held outside Labdhi are included only when you share them with your relationship manager.

How holdings are grouped

• Equity is shares plus equity mutual funds. Hybrid funds, which hold both shares and bonds, are shown as their own class.
• For the "including hybrid funds" equity figure we count, by fund type, 75% of an aggressive hybrid fund, 55% of a multi-asset fund, 50% of a balanced advantage fund, 35% of an equity savings fund and 20% of a conservative hybrid fund as equity.
• Debt covers debt and arbitrage funds; gold covers gold funds and ETFs; cash covers liquid and overnight funds and ledger cash.
• Fund or ETF units held in the demat account are counted as mutual funds at the latest NAV, and matched with Investwell folios by scheme and units so nothing is counted twice.
• Folios with no value are left out; balances under ₹1,000 are listed separately.
• Company size: large companies are the 100 largest listed companies by market value, mid-sized companies the next 150, small companies the rest. Industries are grouped into broad sectors.

How the target mix is set

The starting mix depends on age:

• It is then adjusted only for answers your relationship manager records: conservative risk appetite 10 points less equity, aggressive up to 10 points more; a horizon under 3 years 10 points less, over 7 years 5 points more; high reliance on this money for income 5 points less.
• Equity stays between 20% and 85%. When monthly expenses are known and consistent with the income and assets on record (or re-checked), cash is set to six months of expenses, between 5% and 15% of total assets. If six months would need more than 15%, the shortfall is shown.
• Monthly expenses are compared with the KYC income range and with the assets on record; a figure that does not fit holds back the target, the cash sizing and the retirement check until it is re-checked with you.
• "Assets held elsewhere" counts as recorded only when you confirm either that you have none or that everything has been entered.
• Until your goals, income needs, loans and other assets are recorded and confirmed, the target is marked indicative and no specific sale is suggested.

How a change is planned

• A change is suggested only when equity is more than one percentage point of total assets above the target.
• If the move is 10% of total assets or more, it is split into three steps (40%, 30%, 30%) about three months apart; only step 1 is listed, and each later step is recalculated first.
• Money for step 1 comes only from shares, in this order: single companies above 9% of equity holdings (brought back to 8%), then share positions under 0.5% of total assets. Mutual funds are counted in the asset mix and compared with similar funds, but this review does not suggest buying, selling, holding or switching any of them.
• Anything still needed comes from the largest shareholdings, trimmed toward a common size: every holding above that size gives up the part above it, but never more than 50% of itself in one step. The biggest positions therefore shrink most and smaller ones are untouched, which reduces concentration; the size used is shown against each trim.
• No single sale is smaller than ₹5,000. The money goes to the asset classes below target, in proportion to how far below they are.
• PMS is considered only when the equity allocation is at least ₹50 lakh, and AIFs only when total assets are at least ₹1 crore (the regulatory minimums).

Returns, dividends and scores

• Share gain compares today's value with the average purchase cost. It is not a yearly figure, and it is shown only when the cost is known for at least 60% of share value.
• Fund gain is the value of the units you still hold minus what those units cost. Gains already booked on earlier withdrawals and switch-outs are shown separately, so each row and the total add up. A fund's yearly return since investment is shown only after a year of holding.
• The fund comparison is a description from NAV history, not a recommendation to buy, sell, hold or switch any fund.
• The 3-year figure is the fund's yearly return based on its NAV three years ago. It is compared with every fund in India of the same SEBI category, plan (Direct or Regular) and option (Growth or IDCW) that has three years of NAV history, each scheme counted once, from AMFI's published NAVs; a quarter is shown only when there are at least six such funds. Thematic and sectoral funds are not ranked because they invest in unrelated sectors, and index funds, ETFs and funds of funds because they follow different indices.
• Estimated dividends are today's value multiplied by each company's latest dividend yield. Companies change dividends, so this is a guide, not a forecast.
• The spread score (0–100) looks only at how widely the shares are spread, not at returns or suitability: the two largest holdings (25%), small companies (25%), large companies (20%), the effective number of holdings (15%) and the largest sector above 25% (15%). 85 or more: well spread; 70–84: reasonably spread; 40–69: concentrated in places; below 40: highly concentrated.

Tax estimate

• Shares and equity funds held for more than 12 months are long-term: those gains are taxed at 12.5% on the part above ₹1.25 lakh a year, and shorter-term gains at 20%. Other funds follow their own rules: 12.5% once long-term, otherwise the slab rate.
• Tax on step 1 is worked out purchase by purchase, oldest first, from the purchase records you share with your relationship manager (contract notes, capital-gains statements, your CAS transaction history). Until they are in, the tax on a holding is shown as not yet known.
• After a split, shares keep their original cost and purchase date; bonus shares count from their allotment at nil cost, and shares allotted in an IPO at the issue price. For shares bought on or before 31 January 2018, the highest price quoted on that day can replace the actual cost, as the rules allow.
• Short-term losses reduce any gain; long-term losses reduce only long-term gains. Gains already made this financial year are included, so the figure is the extra tax that step 1 adds.
• It includes 4% cess but not surcharge, and assumes 30% for any gain taxed at the slab rate. Where purchase records are incomplete, the gain is estimated at the average purchase cost and the tax is shown as a range.
• This is an estimate, not tax advice; your relationship manager confirms it before any sale.

Retirement check

• Assumptions: inflation 6%, return in retirement 7%, plan to age 85, pre-retirement growth 8.6% a year from the target mix, SIPs of ₹0 a month continued, loans ignored.
• The money needed at retirement is the amount that would pay the yearly expense gap, rising with inflation, until age 85.
• It uses all the assets you have recorded with us.

How holdings are grouped: estimated equity exposure

• The equity figure that counts the shares inside hybrid funds is an estimate from typical equity shares for each hybrid fund type (listed above), not from the funds' actual portfolios.

Limitations

• Values change every day with markets.
• Insurance, property, loans and investments outside Labdhi are included only as far as they have been shared.
• Tax, dividend and retirement figures are estimates based on the assumptions above.
• Prices and NAVs are cross-checked, but units and transaction records are taken as reported by the broker and Investwell.

Appendix F. Important information