January Group Fund Factsheet. Life Insurance Aditya Birla Sun Life Insurance Company Limited

Transcription

1 Group Fund Factsheet January 2018 Life Insurance Aditya Birla Sun Life Insurance Company Limited

2 LIFE INSURANCE Aditya Birla Sun Life Insurance Company Limited PROTECTING INVESTING FINANCING ADVISING Index Market Outlook Fund Managers Profile Fund Performance Secure Fund Stable Fund Stable Fund 2 Growth Fund Growth Fund 2 Growth Advantage Fund Money Market Fund Money Market Fund 2 Short Term Fund Short Term Fund 2 Income Advantage Fund Gilt Fund Bond Fund Fixed Interest Fund Fixed Interest Fund 2 Page No

3 DEC16 DEC Market Update Economy Review The key events which had an impact on the markets in the month were Domestic factors a) PSU Bank Recapitalization: Government allocated a total of INR crs, INR 80,000 crs through recapitalization bond and INR 8,100 crs as budgetary support to PSU banks under the bank recapitalization plan. Around 61 per cent of the money allocated has been provided to banks which are currently under Prompt Corrective Action to boost the Tier I capital and help them revive. b) IMF projection of strong Indian economic growth: IMF in its January update of world economic updates has maintained that India will be the fastest growing economy growing at 7.4 per cent in and 7.8 per cent in c) Cut in Government borrowing: Government cut the additional borrowing in the current fiscal to Rs.20,000 Cr. from earlier th notified Rs.50,000 Cr. on 27 December 2017.The decision was taken after assessing the revenue and expenditure patterns of the government. th th d) GST council rate cut: GST council on 18 January 18 cut rates on 29 products and 54 services at its 25 meeting and agreed to make the process of filing tax return simpler. The council also reaffirmed its decision to roll out eway bills for inter state movement of goods. st e) Union Budget: On February 1, 2018, the government has presented an inclusive growth oriented budget with a clear focus on rural, social & infrastructure spending. We believe that economic growth pick up will be boosted with the increasing spends towards the broader lower section of the society. Apart from the sentimentally negative stroke of LTCG, the equity markets post a short term knee jerk reaction will start focusing on corporate earnings growth and a bottom up stock picking strategy will work going forward for long term investors. Domestic macro economic data. Inflation (CPI) for December 17 was recorded at 5.2 per cent against 4.9 per cent in November 17. This was due to rising food inflation and fuel inflation. Inflation Source: Tradingeconomics.com On the economy front, IIP surged to 8.4 per cent in November 17 vs 2.2 per cent in October IIP Source: Tradingeconomics.com

4 Market Update Outlook for Equities Benchmark indices started the year on a strong note.sensex rose around 5.6 per cent and Nifty gained around 4.7 per cent in January 18. FIIs started the year as net buyers. They invested new inflows of around $2bn. DIIs invested around $63mn in the month of January At 16.8x FY20 earnings, markets are trading lower than their 15 year average. Looking at the structural changes happening in the Indian economy, investors in equity funds can expect gains in longterm BSE NSE INDEX 31 29Dec17 30Nov17 29Dec17 % Change Nifty % Sensex % BSE % Dow Jones Nikkei Hang Seng % % % Nasdaq % Feb17 Mar17 Apr17 May17 Jun17 Aug17 Sep17 Oct17 Nov17 Dec17 Outlook for The 10 year government bond yield moved from 7.33 per cent to 7.43 per cent in the month. We expect the 10 year Gsec yield to be in the range of 7.35 per cent to 7.60 per cent in the near term. The corporate bond yields are expected to maintain a spread of around 70 basis points on the upward side. 10 Yr GSec Yield 5 year Corporate Bond Spread Percentage (%) bps Key Indices 31 29Dec17 % Change 10 Year GSec 5 Year GSec 90 Day T Bill 7.43% 7.40% 6.40% 7.33% 7.11% 6.20% 1.35% 3.92% 3.13% Feb17 Mar17 Apr17 May17 Jun17 Aug17 Sep17 Oct17 Nov17 Dec Day TBill Call Rates 6.55% 6.40% 2.29% 5.88% 6.00% 2.04%

5 Fund Managers Profile Mr. Sameer Mistry Mr. Sameer Mistry Joint Vice President Investments Mr. Sameer Mistry Joined ABSLI in January He has over 18 years of experience in Research and Fund Management. Prior to joining us, he worked as a Fund Manager with Reliance Capital Asset Management, Tata Mutual Fund and SBI Life Insurance. Sameer has done his BE (Electronics & Telecom) as well as a an MBA in Finance. Mr. Parin Vora Assistant Vice President Investments Mr. Parin Vora has been with ABSLI since October 2007 and is primarily responsible for Fixed Income trading and Fund Management. He has 18 years of experience in Fixed Income Industry and was associated with Birla Sun Life Securities & Mata Securities. Parin has done his MBA in Finance from Welingkar s Institute of Management and DPMIR from Narsee Monjee Institute of Management Studies. Fund SFIN No Fund Manager Group Money Market Fund Group Money Market Fund2 Group Short Term Fund Group Short Term Fund 2 Group Income Advantage Fund Group Gilt Fund Group Bond Fund Group Fixed Interest Fund Group Fixed Interest Fund 2 ULGF00824/08/04BSLIGRMMKT109 ULGF01928/11/11BSLGRMMKT2109 ULGF01322/09/08BSLGSHTDBT109 ULGF02128/11/11BSLGSHTDB2109 ULGF01425/02/10BSLGINCADV109 ULGF00630/05/03BSLIGRGILT109 ULGF00530/05/03BSLIGRBOND109 ULGF00416/07/02BSLGFIXINT109 ULGF01728/11/11BSLGFXINT2109 Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Mr. Parin Vora Balaced Fund Group Secure Fund Group Stable Fund Group Stable Fund 2 Group Growth Fund Group Growth Fund 2 Group Growth Advantage Fund Fund SFIN No Manager ULGF00212/06/01BSLGSECURE109 Mr. Sameer Mistry Mr. Parin Vora ULGF00312/06/01BSLGSTABLE109 Mr. Sameer Mistry Mr. Parin Vora ULGF02228/11/11BSLGSTABL2109 Mr. Sameer Mistry Mr. Parin Vora ULGF00112/06/01BSLGGROWTH109 Mr. Sameer Mistry Mr. Parin Vora ULGF01828/11/11BSLGROWTH2109 Mr. Sameer Mistry Mr. Parin Vora ULGF01026/11/07BSLIGGRADV109 Mr. Sameer Mistry Mr. Parin Vora Fund Manager Mr. Parin Vora Mr. Sameer Mistry No. of Funds Managed Fund Balanced Fund Fund 9 6 6

6 Fund Performance as on 31st January 2018 Group Funds Figures in percentage (%) Returns Absolute CAGR Period 1 month 3 months 6 months 1 Year 2 Years 3 Years 4 Years 5 Years Since Inception Secure Fund Stable Stable Growth Growth Fund Fund 2 Fund Fund Returns Period Growth Advantage Money Money Short Term Short Term Market Fund Market Fund 2 Fund Fund 2 Absolute CAGR 1 month 3 months 6 months 1 Year 2 Years 3 Years 4 Years 5 Years Since Inception Returns Absolute CAGR Period 1 month 3 months 6 months 1 Year 2 Years 3 Years 4 Years 5 Years Secure Stable Stable 2 Growth Growth 2 Growth Advantage Money Market Money Market 2 Short Term Fund Short Term 2 Income Advantage Gilt Fund Bond Fund Fixed Interest Fixed Interest 2 Since Inception Fund Name Income Advantage Fund Weightage 20% 35% 35% 50% 50% 60% BSE 100 BSE 100 BSE 100 BSE 100 BSE 100 BSE 100 Gilt Fund Bond Fund Fixed Fixed Interest Fund Interest Fund 2 70% 55% 55% 40% 40% 30% 100% 100% 85% 70% 15% 85% 85% Benchmark Composition Index Weightage Index Weightage Index Crisil Composite Bond Fund Index Crisil Composite Bond Fund Index Crisil Composite Bond Fund Index Crisil Composite Bond Fund Index Crisil Composite Bond Fund Index Crisil Composite Bond Fund Index Crisil Short Term Bond Fund Index Crisil Short Term Bond Fund Index Crisil Composite Bond Fund Index Crisil Medium Term Bond Fund Index Crisil AA Medium Term Bond Fund Index Crisil Composite Bond Fund Index Crisil Composite Bond Fund Index Disclaimer: This document is issued by ABSLI. While all reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. Past performance is not necessarily indicative of future performance. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Aditya Birla Sun Life Insurance Company Limited, nor any person connected with it, accepts any liability arising from the use of this document. You are advised to make your own independent judgment with respect to any matter contained herein. The investment risk in investment portfolio is borne by the policyholder. The name of the funds do not in any way indicate their quality, future prospects or returns. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance ofinvestment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions Insurance is the subject matter of solicitation. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS: IRDA clarifies to public that IRDA or its officials do not involve inactivities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number. * Duration for Money Market Instrument and FD s is considered as "Zero". 10% 10% 10% 10% 10% 10% 100% 100% 15% 15% 15% 15% SFIN ULGF00212/06/01BSLGSECURE109 ULGF00312/06/01BSLGSTABLE109 ULGF02228/11/11BSLGSTABL2109 ULGF00112/06/01BSLGGROWTH109 ULGF01828/11/11BSLGROWTH2109 ULGF01026/11/07BSLIGGRADV109 ULGF00824/08/04BSLIGRMMKT109 ULGF01928/11/11BSLGRMMKT2109 ULGF01322/09/08BSLGSHTDBT109 ULGF02128/11/11BSLGSHTDB2109 ULGF01425/02/10BSLGINCADV109 ULGF00630/05/03BSLIGRGILT109 ULGF00530/05/03BSLIGRBOND109 ULGF00416/07/02BSLGFIXINT109 ULGF01728/11/11BSLGFXINT2109

7 Group Secure Fund ULGF00212/06/01BSLGSECURE109 Fund Manager: Sameer Mistry () & Parin Vora () Total Experience: 18 years & 18 years Objective: This investment fund option helps build your capital and generate better returns at moderate level of risk, over a medium or longterm period through a balance of investment in equity and debt. Strategy: To generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite. Date of Inception: 19Jun01 Exposure to equities has slightly decreased to 19.48% from 19.69%, GSecs has decreased to 37.58% from 38.28% and MMI has slightly increased to 12.20% from 12.14% on a MOM basis. Over 88% of the debt portfolio remains invested in highest rated instruments. The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Asset held as on 31st January 2018: ` Cr GOVERNMENT SECURITIES: 37.58% 9.20% GOI 2030 ( MD 30/09/2030) 11.21% 8.60% GOI 2028 ( MD 02/06/2028) 4.51% 8.83% GOI 2023 ( MD 25/11/2023) 4.14% 9.23% GOI 2043 ( MD 23/12/2043) 3.54% 8.33% GOI 2026 ( MD 09/07/2026) 2.91% 8.13% GOI 2045 ( MD 22/06/2045) 1.02% 7.16% GOI 2023 ( MD 20/05/2023) 0.98% 8.17% GOI 2044 ( MD 01/12/2044) 0.97% 8.32% GOI ( MD 02/08/2032) 0.89% 8.28% GOI ( MD 15/02/2032) 0.82% OTHER GOVERNMENT SECURITIES 6.59% NAV as on 31st January 2018: ` Benchmark: BSE 100, Crisil Composite Bond Fund Index & : 12.20% CORPORATE DEBT: 30.74% 8.45% HDFC Ltd. MD (18/05/2026) (Series P 012) 1.54% 9.00% Godrej & Boyce Man Co Ltd. MD (22/04/21) (Step Up 1.28% 7.50 HDFC Ltd. ( MD 07/07/2020) 1.24% 8.15% Tata Steel Ltd ( MD 01/10/2026) 1.21% 8.30% Rural Electrification Corpn. Ltd. ( MD 10/04/2025) 1.07% 7.80% Apollo Tyres Limited Series C Maturity 30Th Apr % 8.57% REC Ltd. ( MD 21/12/2024) 0.80% 9.30% LIC Housing Finance Ltd ( MD 14/09/2022) 0.79% 8.48% LIC Housing Finance Ltd. ( MD 09/06/2023)Ncd297 Op1 0.77% 8.39% Power Finance Corpn. Ltd. ( MD 19/04/2025) 0.77% Other Corporate 20.30% Modified Duration: 5.37 years EQUITY: 19.48% HDFC Bank Limited 1.71% Reliance Industries Limited 1.29% Housing Development Finance Corporation 1.06% ITC Limited 1.05% ICICI Bank Limited 1.01% Infosys Limited 0.90% Larsen & Toubro Limited 0.90% State Bank Of India 0.62% Mahindra And Mahindra Limited 0.48% Maruti Suzuki India Limited 0.48% Other 9.97% Secure 12.20% 19.48% GSecs 37.58% Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan % SECTORAL ALLOCATION BANKING OIL AND GAS 11.62% CAPITAL GOODS 11.52% FINANCIAL SERVICES 9.05% 17.93% 33.24% AA 1.09% AA+ A1+ AA 2.57% A+ 8.09% 0.34% 0.01% 54.67% SOFTWARE / IT FMCG AUTOMOBILE PHARMACEUTICALS METAL TELECOMMUNICATION 8.78% 7.35% 6.70% 6.69% 3.44% 2.26% ( 19 %) OTHERS 14.67% ( 81%)

8 Group Stable Fund ULGF00312/06/01BSLGSTABLE109 Fund Manager: Sameer Mistry () & Parin Vora () Total Experience: 18 years & 18 years Objective: This investment fund option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities. Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders. Date of Inception: 31Aug01 Over 95% of the debt portfolio remains invested in highest rated instruments. The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 5.53 years Benchmark: BSE 100, Crisil Composite Bond Fund Index & GOVERNMENT SECURITIES: 36.33% 9.23% GOI 2043 ( MD 23/12/2043) 7.40% 8.33% GOI 2026 ( MD 09/07/2026) 6.35% 8.83% GOI 2023 ( MD 25/11/2023) 4.64% 9.20% GOI 2030 ( MD 30/09/2030) 3.69% 8.28% GOI ( MD 15/02/2032) 2.92% 8.79% GOI 2021 ( MD 08/11/2021) 2.61% 8.60% GOI 2028 ( MD 02/06/2028) 2.34% 8.08% Goi ( MD 02/08/2022) 1.42% 8.30% GOI 2040 ( MD 02/07/2040) 1.16% 8.40% GOI 2024 ( MD 28/07/2024) 1.15% Other Government Securities 2.65% : 16.30% CORPORATE DEBT: 13.18% 7.80% Apollo Tyres Limited Series B Maturity 28Th Apr % 8.65% RECL Ltd ( MD 15/01/2019) 2.07% 8.90% LIC Housing Finance Ltd (10/08/2020) 1.13% 8.40% PGC ( MD 27/05/2027)[I] 1.13% 7.58% PNB Housing Finance Ltd ( MD 15/03/2021) 1.10% 7.89% PGC (LViii) ( MD 09/03/2027) 1.10% 9.25% LIC Housing Finance Ltd ( MD 01/01/2023) 1.07% 8.00% HDFC Ltd ( MD 22/08/2018) 0.88% 9.25% Reliance Jio Infocomm Limited ( MD 16/06/2024) 0.87% 8.95% Bajaj Finance Limited ( MD 10/04/2020) 0.45% Other Corporate 1.21% EQUITY: 34.18% HDFC Bank Limited 2.89% Reliance Industries Limited 2.26% Housing Development Finance Corporation 1.85% ITC Limited 1.77% ICICI Bank Limited 1.71% Infosys Limited 1.58% Larsen & Toubro Limited 1.56% State Bank Of India 1.08% Maruti Suzuki India Limited 1.01% Mahindra And Mahindra Limited 0.86% Other 17.61% Stable 13.18% GSecs 36.33% 16.30% Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan % SECTORAL ALLOCATION BANKING CAPITAL GOODS OIL AND GAS 11.70% 11.46% 17.41% 20.51% A1+ AA+ 1.96% AA 4.56% 0.09% 72.87% FINANCIAL SERVICES 9.05% SOFTWARE / IT 8.78% FMCG 7.29% AUTOMOBILE PHARMACEUTICALS METAL TELECOMMUNICATION 7.20% 6.70% 3.40% 2.17% (34%) OTHRES 14.82% (66%)

9 Group Stable Fund 2 ULGF02228/11/11BSLGSTABL2109 Fund Manager: Sameer Mistry () & Parin Vora () Total Experience: 18 years & 18 years Objective: This investment fund option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities. Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders. Date of Inception: 28Nov11 100% of the debt portfolio remains invested in highest rated instruments. The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Asset held as on 31st January 2018: ` 2.56 Cr NAV as on 31st January 2018: ` Modified Duration: 4.96 years Benchmark: BSE 100, Crisil Composite Bond Fund Index & GOVERNMENT SECURITIES: 52.40% 7.80% GOI ( MD 11/04/2021) 19.92% 9.20% GOI 2030 ( MD 30/09/2030) 8.71% 9.23% GOI 2043 ( MD 23/12/2043) 6.78% 8.40% GOI 2024 ( MD 28/07/2024) 6.10% 9.15% GOI 2024 ( MD 14/11/2024) 5.48% 7.16% GOI 2023 ( MD 20/05/2023) 5.41% CORPORATE DEBT: 4.42% EQUITY: 33.70% 10.70% IRFC ( MD 11/09/2023) 4.42% HDFC Bank Limited 3.51% ITC Limited 1.93% Reliance Industries Limited 1.93% ICICI Bank Limited 1.87% Housing Development Finance Corporation 1.81% Infosys Limited 1.59% State Bank Of India 1.26% Larsen & Toubro Limited 1.05% Maruti Suzuki India Limited 0.97% GAIL (India) Limited 0.87% Other 16.91% : 9.49% Stable % 4.42% 33.70% GSecs 52.40% Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 SECTORAL ALLOCATION BANKING OIL AND GAS 11.30% 20.46% 7.53% CAPITAL GOODS FINANCIAL SERVICES SOFTWARE / IT FMCG AUTOMOBILE PHARMACEUTICALS METAL 9.80% 9.05% 8.77% 8.25% 7.38% 6.28% 2.58% 92.47% 0.86 (34%) TELECOMMUNICATION OTHERS 2.54% 13.59% 1.70 (66%)

10 Group Growth Fund ULGF00112/06/01BSLGGROWTH109 Fund Manager: Sameer Mistry () & Parin Vora () Total Experience: 18 years & 18 years Objective: The objective of this investment fund option is to achieve optimum balance between growth and stability to provide longterm capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This fund option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time. Strategy: The strategy is to invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholder s wealth in long run. Date of Inception: 31Aug01 Over 99% of the debt portfolio remains invested in highest rated instruments. The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 5.28 years Benchmark: BSE 100, Crisil Composite Bond Fund Index & GOVERNMENT SECURITIES: 28.33% 8.83% GOI 2023 ( MD 25/11/2023) 6.63% 8.33% GOI 2026 ( MD 09/07/2026) 3.75% 8.60% GOI 2028 ( MD 02/06/2028) 2.31% 9.53% State Developement Gujrat 2024 ( MD 12/02/2024) 1.95% 9.20% GOI 2030 ( MD 30/09/2030) 1.82% 9.23% GOI 2043 ( MD 23/12/2043) 1.67% 8.20% GOI ( MD 15/02/2022) 1.58% 8.79% GOI 2021 ( MD 08/11/2021) 1.53% 8.17% GOI 2044 ( MD 01/12/2044) 1.32% 8.28% GOI ( MD 15/02/2032) 1.13% Other Government Securities 4.63% : 8.61% Growth CORPORATE DEBT: 14.07% 9.34% REC Ltd. ( MD 25/08/2024) 1.80% 8.70% Power Finance Corporation Ltd. ( MD 14/05/2020) 1.55% 8.45% HDFC Ltd. MD (18/05/2026) (Series P 012) 1.49% 8.55% Power Finance Corpn. Ltd. (09/12/2021) Series % 7.35% BPCL Ltd Ncd ( MD 10/03/2022) 1.38% 8.48% LIC Housing Finance Ltd. ( MD 29/06/2026) PUT 29/ % 7.58% PNB Housing Finance Ltd ( MD 15/03/2021) 0.90% 7.89% Power Grid Corporation (LVIII) ( MD 09/03/2027) 0.90% 9.02% REC Ltd. ( MD 19/11/2022) 0.68% 9.23% LIC Housing Finance Ltd ( MD 13/12/2022) 0.57% Other Corporate 2.01% EQUITY: 48.99% HDFC Bank Limited 4.26% Reliance Industries Limited 3.27% Housing Development Finance Corporation 2.68% ITC Limited 2.49% ICICI Bank Limited 2.42% Infosys Limited 2.28% Larsen & Toubro Limited 2.25% State Bank Of India 1.57% Maruti Suzuki India Limited 1.21% Mahindra And Mahindra Limited 1.17% Other 25.39% 8.61% 14.07% GSecs 28.33% 48.99% Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 BANKING SECTORAL ALLOCATION 17.65% AA+ 0.87% CAPITAL GOODS OIL AND GAS FINANCIAL SERVICES 12.13% 11.61% 9.15% 32.31% 66.82% SOFTWARE / IT 8.90% FMCG AUTOMOBILE PHARMACEUTICALS METAL TELECOMMUNICATION 6.79% 6.61% 6.40% 3.43% 2.23% (49 %) OTHERS 15.10% (51 %)

11 Group Growth Fund 2 ULGF00112/06/01BSLGGROWTH109 Fund Manager: Sameer Mistry () & Parin Vora () Total Experience: 18 years & 18 years Objective: The objective of this investment fund option is to achieve optimum balance between growth and stability to provide longterm capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This fund option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time. Strategy: The strategy is to invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholder s wealth in long run. Date of Inception: 28Nov11 100% of the debt portfolio remains invested in highest rated instruments. The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 3.82 years Benchmark: BSE 100, Crisil Composite Bond Fund Index & GOVERNMENT SECURITIES: 13.77% 8.40% GOI 2024 ( MD 28/07/2024) 6.81% 9.23% GOI 2043 ( MD 23/12/2043) 3.03% 8.83% GOI 2023 ( MD 25/11/2023) 2.78% 8.83% GOI 2041 ( MD 12/12/2041) 1.16% : 11.17% CORPORATE DEBT: 26.00% 8.35% LIC Housing Finance Ltd. ( MD 23/10/2020) 5.31% 9.04% REC Ltd. ( MD 12/10/2019) 4.00% 9.15% Larsen & Toubro Ltd ( MD 05/01/2019) 3.97% 9.64% PGC ( MD 31/05/18) 3.95% 8.40% NPC Of India Ltd (C) ( MD 28/11/2027) SE 2.71% 7.69% BPCL Ltd ( MD 16/01/2023) 2018 Series I 2.60% 7.89% Power Grid Corporation (LVIII) ( MD 09/03/2027) 2.60% 9.74% Tata Sons Ltd. ( MD 13/01/2024) 0.85% EQUITY: 49.05% HDFC Bank Limited 4.64% Reliance Industries Limited 3.23% Housing Development Finance Corporation 2.65% ICICI Bank Limited 2.60% ITC Limited 2.49% Infosys Limited 2.26% Larsen & Toubro Limited 2.23% State Bank Of India 1.58% Maruti Suzuki India Limited 1.45% Mahindra And Mahindra Limited 1.26% Other 24.67% Growth % GSecs 13.77% 26.00% 49.05% Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 SECTORAL ALLOCATION BANKING OIL AND GAS 11.52% 18.76% 62.26% CAPITAL GOODS FINANCIAL SERVICES 11.26% 9.01% 37.74% SOFTWARE / IT 8.73% FMCG 7.55% AUTOMOBILE PHARMACEUTICALS METAL TELECOMMUNICATION 7.28% 6.62% 2.65% 2.23% (49 %) OTHERS 14.39% (51 %)

12 Group Growth Advantage Fund ULGF01026/11/07BSLIGGRADV109 Fund Manager: Sameer Mistry () & Parin Vora () Total Experience: 18 years & 18 years Objective: The Objective of the fund is to provide blend of fixed return by investing in debt & money market instruments and capital appreciation by predominantly investing in equities of fundamentally strong and large blue chip companies. Strategy: The fund option will invest at least 40% and maximum of 60% in fundamentally strong and large blue chip companies and minimum 40% in and money market Instruments. The Strategy of the fund is to build and actively manage a welldiversified equity portfolio of value & growth driven stocks by following a researchfocused investment approach. While appreciating the high risk associated with equities, the fund would attempt to maximize the riskreturn payoff for the longterm advantage of the policyholders. The fund will also explore the option of having exposure to quality mid cap stocks. The Fund Manager would endeavor to outperform the benchmark. The nonequity portion of the fund will be invested in highrated debt and money market instruments and fixed deposits. Date of Inception: 18Feb08 Over 97% of the debt portfolio remains invested in highest rated instruments. The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 5.53 years Benchmark: BSE 100, Crisil Composite Bond Fund Index & GOVERNMENT SECURITIES: 18.83% 9.20% GOI 2030 ( MD 30/09/2030) 8.95% 8.33% GOI 2026 ( MD 09/07/2026) 3.47% 8.83% GOI 2023 ( MD 25/11/2023) 2.13% 8.60% GOI 2028 ( MD 02/06/2028) 1.42% 8.83% GOI 2041 ( MD 12/12/2041) 1.19% 7.80% GOI ( MD 11/04/2021) 0.89% 9.23% GOI 2043 ( MD 23/12/2043) 0.77% 7.88% GOI 2030 ( MD 19/03/2030) 0.01% CORPORATE DEBT: 7.79% 7.89% Power Grid Corporation (LVIII) ( MD 09/03/2027) 5.31% 8.57% REC Ltd. ( MD 21/12/2024) 1.38% 9.05% Petronet LNG Ltd ( MD 28/10/2019) 0.95% 11.95% HDFC Ltd ( MD 26/11/2018) 0.14% EQUITY: 58.72% HDFC Bank Limited 5.16% Reliance Industries Limited 3.97% Housing Development Finance Corporation 3.18% ITC Limited 3.08% ICICI Bank Limited 3.04% Infosys Limited 2.77% Larsen & Toubro Limited 2.73% State Bank Of India 1.85% Maruti Suzuki India Limited 1.75% Mahindra And Mahindra Limited 1.38% Other 29.81% : 14.66% Growth Advantage 14.66% 7.79% GSecs 18.83% 58.72% Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 SECTORAL ALLOCATION BANKING CAPITAL GOODS OIL AND GAS FINANCIAL SERVICES 11.82% 11.61% 9.01% 17.94% 22.19% AA+ 3.09% 74.71% SOFTWARE / IT 8.66% FMCG AUTOMOBILE PHARMACEUTICALS METAL RETAILING 7.10% 7.07% 6.44% 3.41% 2.25% (59%) OTHERS 14.71% (41%)

13 Group Money Market Fund ULGF00824/08/04BSLIGRMMKT109 Fund Manager: Parin Vora Total Experience: 18 years Objective: The primary objective of the investment fund option is to provide reasonable returns, at a high level of safety and liquidity for capital conversation for the policyholder. Strategy: The strategy of investment fund option is to make judicious investments in high quality debt and money market instruments protect capital of the policyholder with very low level of risk. Date of Inception: 30Mar05 Over 87% of the fund is invested in highest rated instruments. The fund continues to maintain very low maturity profile. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 0.20 years CORPORATE DEBT: 62.60% 8.55% Reliance Jio Infocomm Limited PPD6 ( MD 31/07/2018) 8.70% 8.00% HDFC Ltd ( MD 22/08/2018) 6.94% 8.30% NABARD ( MD 12/06/2018)16B 6.09% 8.60% LIC Housing Finance Ltd ( MD 20/06/2018) 5.58% 10.85% RECL Ltd ( MD 14/08/2018) 5.37% 8.03% Kotak Mahindra Prime Ltd S2 ( MD 14/02/2019) 5.20% 9.68% Power Finance Corporation ( MD 09/06/2018) 4.37% 8.35% Petronet LNG Ltd ( MD 14/06/2018) 4.35% 8.90% Steel Authority Of India ( MD 01/05/2019) CALL FR 01/ % 9.43% IRFC ( MD 23/05/2018) 4.02% Other Corporate 7.64% Benchmark: AA 2.02% AA 1.12% 5.02% AA % 6.14% A % 37.40% 62.60% : 37.40% Money Market (100%) Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17

14 Group Money Market Fund 2 ULGF01928/11/11BSLGRMMKT2109 Fund Manager: Parin Vora Total Experience: 18 years Objective: The primary objective of the investment fund option is to provide reasonable returns, at a high level of safety and liquidity for capital conversation for the policyholder. Strategy: The strategy of investment fund option is to make judicious investments in high quality debt and money market instruments protect capital of the policyholder with very low level of risk. Date of Inception: 28NOV11 100% of the fund is invested in highest rated instruments. The fund continues to maintain very low maturity profile. Asset held as on 31st January 2018: ` 0.29 Cr NAV as on 31st January 2018: ` Benchmark: GOVERNMENT SECURITIES: 95.54% 364 Days Tbill ( MD 10/05/2018) 50.41% 91 Days Tbill ( MD 01/03/2018) 34.01% 8.24% GOI ( MD 22/04/2018) 7.72% 323 Days Tbill ( MD 13/03/2018) 3.39% 4.46% GSecs 95.54% : 4.46% Money Market % Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan (100%)

15 Group Short Term Fund ULGF01322/09/08BSLGSHTDBT109 Fund Manager: Parin Vora Total Experience: 18 years Objective: This ABSLI fund option helps to provide capital preservation at a high level of safety & liquidity through judicious investments in high quality shortterm debt instruments. Strategy: To actively manage the fund by building a portfolio of fixed income instruments with shortterm duration. The quality & duration of the assets purchased would aim to minimize the credit risk &liquidity risk of the portfolio. Fund will maintain reasonable level of liquidity. Date of Inception: 10Dec08 Exposure to Corporate has increased to 82.51% from 75.01% and MMI has decreased to 17.49% from 24.99% on a MOM basis. Over 79% of the fund is invested in highest rated instruments. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 1.47 years Benchmark: Crisil Short Term Bond Fund Index CORPORATE DEBT: 82.51% 9.70% Power Finance Corpn. Ltd. ( MD 09/06/2021) 8.66% 8.55% Reliance Jio Infocomm Limited PPD6 ( MD 31/07/2018) 8.22% 7.55% Tube Investments Of India Ltd ( MD 20/02/2020) 8.10% 10.50% AU Small Finance Bank Limited ( MD 19/04/2019) 7.95% 9.15% Larsen & Toubro Ltd ( MD 05/01/2019) 7.47% 9.04% REC Ltd. ( MD 12/10/2019) 6.27% 9.90 HDFC Ltd. ( MD 10/06/2021) 5.23% 8.68% LIC Housing Finance Ltd. ( MD 30/03/2020) 4.59% 8.90% Indiabulls Housing Finance Ltd Sr. III B ( MD 26/ % 8.84% PGC Of India Ltd. ( MD 21/10/2019) 4.17% Other Corporate 17.61% A % AA 2.37% A+ 9.21% AA 9.39% 74.61% 17.49% 82.51% : 17.49% Short Term (100%) Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17

16 Group Short Term Fund 2 ULGF02128/11/11BSLGSHTDB2109 Fund Manager: Parin Vora Total Experience: 18 years Objective: This ABSLI fund option helps to provide capital preservation at a high level of safety & liquidity through judicious investments in high quality shortterm debt instruments. Strategy: To actively manage the fund by building a portfolio of fixed income instruments with shortterm duration. The quality & duration of the assets purchased would aim to minimize the credit risk &liquidity risk of the portfolio. Fund will maintain reasonable level of liquidity. Date of Inception: 28Nov11 Exposure to Corporate has increased to 82.14% from 76.92% and MMI has decreased to 17.86% from 23.08% on a MOM basis. Over 78% of the fund is invested in highest rated instruments. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 1.69 years Benchmark: Crisil Short Term Bond Fund Index CORPORATE DEBT: 82.14% 7.90% NIRMA Ltd Sr III ( MD 28/02/2020) 8.63% 7.35% BPCL Ltd ( MD 10/03/2022) 8.57% 8.12% ONGC Mangalore Petrochemicals Ltd ( MD 10/06/2 7.58% 8.58% HDFC Ltd ( MD 08/05/2018) 7.57% 7.55% Tube Investments Of India Ltd ( MD 20/02/2020) 7.46% 8.70% Power Finance Corporation Ltd. ( MD 14/05/2020) 7.31% 8.25% Tata Sons Ltd. ( MD 23/03/2022) 5.74% 8.55% Reliance Jio Infocomm Limited PPD6 ( MD 31/07/2018) 5.67% 7.48% GRUH Finance Ltd ( MD 10/06/19) F % 8.30% NABARD ( MD 12/06/2018)16B 3.78% Other Corporate 14.18% AA 21.86% A % 72.09% 17.86% 82.14% : 17.86% Short Term (100%) Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17

17 Group Income Advantage Fund ULGF01425/02/10BSLGINCADV109 Fund Manager: Parin Vora Total Experience: 18 years Objective: To provide capital preservation and regular income, at a high level of safety over a medium term horizon by investing in high quality debt instruments. Strategy: To build and actively manage a portfolio of high quality fixed income instruments with mediumterm duration. The fund will invest in government securities, high rated corporate bonds, high quality money market instruments and other fixed income securities. The quality of the assets purchased would aim to minimize the credit risk and liquidity risk of the portfolio. The fund will maintain reasonable level of liquidity. Date of Inception: 23Mar10 100% of the fund remains invested in highest rated instruments. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 5.68 years Benchmark: Crisil Composite Bond Fund index & GOVERNMENT SECURITIES: 49.28% 9.23% GOI 2043 ( MD 23/12/2043) 16.08% 8.83% GOI 2023 ( MD 25/11/2023) 12.10% 8.20% GOI ( MD 15/02/2022) 5.00% 7.50% GOI 2034 ( ) 4.69% 8.08% GOI ( MD 02/08/2022) 2.46% 8.15% GOI FCI SB Bonds ( MD 16/10/2022) 2.42% 8.40% GOI 2024 ( MD 28/07/2024) 2.37% 8.30% Fertilizer Co GOI ( MD 07/12/2023) 1.35% 7.80% GOI ( MD 11/04/2021) 1.28% 8.13% GOI 2045 ( MD 22/06/2045) 0.71% Other Government Securities 0.81% : 7.76% Gr. Inc Adv CORPORATE DEBT: 42.97% 9.90 HDFC Ltd. ( MD 10/06/2021) 6.06% 8.08% Tata Sons Ltd. ( MD 05/08/2026) 5.73% 9.37% Power Finance Corporation Ltd ( MD 19/08/2024) 4.88% 9.15% Export Import Bank Of India ( MD 05/09/2022) 4.78% 8.65% India Infradebt Ltd ( MD 21/03/2026) Series II 4.78% 9.34% REC Ltd. ( MD 25/08/2024) 3.66% 9.25% Reliance Jio Infocomm Limited ( MD 16/06/2024) 3.64% 9.02% REC Ltd. ( MD 19/11/2022) 3.10% 8.57% REC Ltd. ( MD 21/12/2024) 2.35% 8.95% LIC Housing Finance Ltd ( MD 15/09/2020) 2.34% Other Corporate 1.65% 7.76% 42.97% GSecs 49.28% 46.58% 53.42% Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan (100%)

18 Group Gilt Fund ULGF00630/05/03BSLIGRGILT109 Fund Manager: Parin Vora Total Experience: 18 years Objective: The investment fund option aims to deliver safe and consistent returns over a longterm period by investing in government securities for capital preservation of the policyholder. Strategy: The investment fund option strategy is to invest in government securities, maintaining a medium to longterm duration of the portfolio to achieve capital conversation. Date of Inception: 28Apr04 Exposure to GSecs has increased to 80.02% from 79.44% and MMI has decreased to 19.98% from 20.56% on a MOM basis. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 8.38 years GOVERNMENT SECURITIES: 80.02% 8.83% GOI 2041 ( MD 12/12/2041) 28.61% 9.23% GOI 2043 ( MD 23/12/2043) 19.07% 8.17% GOI 2044 ( MD 01/12/2044) 12.87% 9.15% GOI 2024 ( MD 14/11/2024) 3.56% 9.20% GOI 2030 ( MD 30/09/2030) 3.22% 8.83% GOI 2023 ( MD 25/11/2023) 3.06% 8.30% GOI 2042 ( MD 31/12/2042) 2.65% 8.28% GOI 2027 ( MD 21/09/2027) 2.14% 8.15% GOI 2022 ( MD 11/06/2022) 2.12% 8.20% GOI Oil SPL Bond 2023 ( MD 10/11/2023) 1.39% Other Government Securities 1.34% : 19.98% 19.98% GSecs 80.02% % (100%)

19 Group Bond Fund ULGF00530/05/03BSLIGRBOND109 Fund Manager: Parin Vora Total Experience: 18 years Objective: The investment fund option aims to achieve capital preservation along with stable returns by investing in corporate bonds over mediumterm period. Strategy: The fund follows a strategy to invest in high credit rated corporate bonds, maintaining a shortterm duration of the portfolio at a medium level of risk to achieve capital conservation. Date of Inception: 28Jan07 Exposure to Corporate has decreased to 88.11% from 90.18% and MMI has slightly increased to 9.90% from 9.82% on a MOM basis. Over 82% of the fund remains invested in highest rated instruments. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 3.78 years Benchmark: Crisil Medium Term Bond Index, Crisil AA Medium Term Bond Index & GOVERNMENT SECURITIES: 1.99% 7.75% Power Finance Corpn. Ltd. ( MD 22/03/2027) 1.99% : 9.90% Gr.Bond CORPORATE DEBT: 88.11% 9.25% Reliance Jio Infocomm Limited ( MD 16/06/2024) 3.66% 9.74% Tata Sons Ltd. ( MD 13/01/2024) 3.54% 9.05% Petronet LNG Ltd ( MD 28/10/2019) 3.35% Tata Sons Ltd. Zero Coupon (8.07% XIRR) ( MD 03/09/2029) 3.21% 8.30% REC Ltd. ( MD 10/04/2025) 3.20% 9.50% HDFC Ltd ( MD 13/08/2024) 3.09% 8.60% India Infradebt Ltd ( MD 08/01/2021) Series I 2.99% 8.54% Nuclear Power Corporation Of India Limited ( MD 15/03/2 2.96% 8.40% Power Grid Corporation ( MD 27/05/2027) [I] 2.93% 7.89% Can Fin Homes Ltd. MD (18/05/2022) Series % Other Corporate 56.31% 9.90% GSecs 1.99% AA 3.06% AA+ A+ 5.34% 1.14% AA 8.55% 88.11% 81.92% Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan (100%)

20 Group Fixed Interest Fund ULGF00416/07/02BSLGFIXINT109 Fund Manager: Parin Vora Total Experience: 18 years Objective: The investment fund option with full exposure in debt market instrument, aims to achieve value creation at low risk over alongterm horizon by investing into high quality fixed interest securities. Strategy: Active fund management at a medium level of risk by having entire exposure to government securities, corporate bonds maintaining medium to longterm duration of the portfolio to achieve capital conservation. Date of Inception: 18Nov02 Exposure to Corporate has increased to 50.56% from 49.20% GSecs has slightly increased to 38.35% from 38.15% and MMI has decreased to 11.08% from 12.66% on a MOM basis. Over 85% of the fund remains invested in highest rated instruments. Asset held as on 31st January 2018: ` Cr NAV as on 31st January 2018: ` Modified Duration: 5.08 years Benchmark: Crisil Composite Bond Fund index & GOVERNMENT SECURITIES: 38.35% 8.60% GOI 2028 ( MD 02/06/2028) 5.85% 8.13% GOI 2045 ( MD 22/06/2045) 5.04% 7.61% GOI 2030 ( MD 09/05/2030) 4.97% 8.40% GOI 2024 ( MD 28/07/2024) 4.43% 8.97% GOI 2030 ( MD 05/12/2030) 3.57% 8.33% GOI 2026 ( MD 09/07/2026) 3.54% 8.83% GOI 2041 ( MD 12/12/2041) 2.37% 8.17% GOI 2044 ( MD 01/12/2044) 2.01% 8.67% State Developement Maharashtra 2026 ( MD 24/02/2026) 1.90% 7.72% GOI 2025 ( MD 25/05/2025) 1.85% Other Government Securities 2.82% : 11.08% Fixed Interest CORPORATE DEBT: 50.56% 8.75% HDFC Ltd. (04/03/2021) (Series P002) (PUT Opt 14/0 4.62% 9.25% Reliance Jio Infocomm Limited ( MD 16/06/2024) 2.81% 8.30% REC Ltd. ( MD 10/04/2025) 2.33% 9.24% LIC Housing Finance Ltd ( MD 30/09/2024) 2.25% 9.55% Hindalco Industries Ltd. ( MD 27/06/2022) 2.19% 7.80% Apollo Tyres Limited Series A Maturity 29Th Apr % 8.90% Indiabulls Housing Finance Ltd Sr. III B ( MD 26/ % 9.20% Cholamandalam Invt And Fin Co Ltd ( MD 04/04/2019) 1.51% 8.92% Tata Capital Financial Services Limited. Sub 1.42% 7.89% Can Fin Homes Ltd. MD (18/05/2022) Series % Other Corporate 28.43% 11.08% GSecs 38.35% A1+ AA+ A+ AA 4.58% 2.44% 1.23% 9.06% 50.56% 42.08% Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan % 1, (100%)

21 Group Fixed Interest Fund 2 ULGF01728/11/11BSLGFXINT2109 Fund Manager: Parin Vora Total Experience: 18 years Objective: The investment fund option with full exposure in debt market instrument, aims to achieve value creation at low risk over alongterm horizon by investing into high quality fixed interest securities. Strategy: Active fund management at a medium level of risk by having entire exposure to government securities, corporate bonds maintaining medium to longterm duration of the portfolio to achieve capital conservation. Date of Inception: 28Nov11 Exposure to GSecs has decreased to 96.02% from 97.69% and MMI has increased to 3.98% from 2.31% on a MOM basis. 100% of the fund remains invested in highest rated instruments. Asset held as on 31st January 2018: ` 3.33 Cr NAV as on 31st January 2018: ` Modified Duration: 5.43 years Benchmark: Crisil Composite Bond Fund index & GOVERNMENT SECURITIES: 96.02% 8.20% GOI 2025 ( MD 24/09/2025) 96.02% 3.98% GSecs 96.02% : 3.98% FIF % Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan (100%)