Market witnessed heightened volatility in the month of May – 12. Sensex fell by 6.5% for the month of May -12. Broader market underperformed. There was complete risk of trade. Dollar Rupee also moved towards 57 which were at life low. Due to our continuous focus on high quality businesses we saw lesser volatility in all the three strategies. We were able to substantially outperform the Index for the month of May 2012.