Below is a snippet of the methodology used for KALKINE Portfolio Performance Calculation
KALKINE Gold Portfolio Performance (Year-on-Year)

• Recommendations under Kalkine's Gold Portfolio (Hypothetical) for year 2019 (period from 09 July 2019 to 31 Jan 2020) have been used for the calculations presented in section, ‘Kalkine Performance’.
• Generally speaking, Kalkine Gold Portfolio represents a hypothetical portfolio, and this consists of stocks that appear to be providing hedge against any uncertainty in financial and equity market. This category may include speculative stocks expected to have growth prospects but carry some defined cited risks.
• Our Portfolio is hypothetical and our performance figures are based on recommendations from Kalkine Gold Reports using stock prices at the date of publication.
• It is also prudent to note that performance of stocks included in Kalkine Gold Portfolio (Hypothetical) has been calculated based on their price values during the specific time period in order to give ‘as-on-date’ performance picture. 
• Where a stock has been recommended multiple-times, the average price is taken into consideration. We might need to provide update on a stock several times during a year or for the length of coverage and for that reason the average BUY price is taken into consideration. 
• Performance figures quoted do not take into account transaction fees and charges. The profits or losses are hypothetical and include dividends or distribution for the length of the coverage until the recommendation is designated as closed. 
• The performance has been verified by an independent accounting firm. 
• All investors are advised to conduct their own independent research into individual stocks recommended by Kalkine before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation. 
• We encourage you to think of investing as a long-term pursuit.

Note: For any benchmark index return, proportional dividend yields have been taken onto account as per the information available