Unit-Linked Insurance Plans Monthly Fund Update, May 11

Unit-Linked Insurance Plans Monthly Fund Update, May 11

ECONOMY ECONOMY Indicators Source: RBI WSS & Bloomberg Fixed Income Apr 2011 May 2011 10-year G-Sec India (%) 8.13 8.41 0.28 M-o-M Variation 10 year AAA Corporate Bond 9.21 9.74 0.53 5 year G-Sec India (%) 8.24 8.49 0.25 5 year AAA Corporate Bond 9.29 9.72 0.43 1 year T-Bill 7.75 8.29 0.54 1 yr CD 9.73 10.00 0.27 Exchange Rate USD/INR 44.22 45.06 0.84 Forex Reserves USD Bn 309 309 0 WPI Inflation (%) 9.02 8.66-0.36 Index of Industrial Production (IIP) 3.7 7.3 3.60 US 10- YEAR TREASURY YIELD (%) 3.29 3.06-0.23 Brent Crude Oil (USD/barrel) 126 117-7.1% Sensex 19136 18503-3.3% Nifty 5749 5560-3.3% The key highlight for month was annual monetary policy review of Reserve Bank of India. RBI, in an unexpected move, hiked Repo and Reverse Repo rates by 50 basis points. The Repo rate now stands at 7.25% and Reverse Repo at 6.25%. RBI estimates Indian economy to grow at 8.0% in FY12 and baseline projection for WPI inflation for March 2012 at 6 per cent with an upward bias. RBI highlighted concerns over administered fuel prices in India and uncertainty in global crude prices. The Wholesale Price Inflation (WPI) for month of April rose to 8.66% (previous month's figure was revised to 9.02%). This was higher than market expectation. Although Fuel and Primary articles were in line with weekly readings, rise in manufactured product prices was key reason for higher inflation. The petrol price hike of Rs. 5 implemented in month of May will put incremental upward pressure on WPI numbers, going forward. Tight liquidity conditions continue to exert pressure at shorter end of yield curve. Three month to one year CD's were trading between 9.25% to 10.00% range during month. Most banks were offering fixed deposits at rates which were above 10% for various tenors, reby continuing trend of previous month. Due to numerous bond issuances by PSUs, 10 year corporate bond yields were under pressure and rose to 9.74% from 9.21% in beginning of month. The 10 year GSec yields rose to 8.41% from 8. during month due to huge primary issuances. India's 4th Quarter FY11 GDP growth came in at 7.8%, lower than market expectations. The Central Statistical Organization revised FY11 GDP down to 8.5% from 8.6%. Key changes were upward revision in Agriculture to 6.6% from 5.4% and downward revision in Industry to 7.9% from 8.1% and Services to 9.4% from 9.6%. Equity The month of May was negative for Equity markets. There was significant volatility on account of various news flows and markets had corrected 7% during month. However, Nifty gained 4% in last few days and finally closed 3% down at 5560. Elevated inflation remained key concern for Central Bank. It continued with tightening measures and unexpectedly raised key policy rates by 50 basis points. RBI's policy measures have clearly indicated that containing inflation continues to be top priority. The Index of Industrial Production (IIP) for March came in at 7.3%, much higher than consensus expectations of 4%. This was significantly higher than 3.6% growth registered in February. Inflation for April at 8.7% was broadly in-line with consensus expectations but much higher than Central Banks' comfort level. The GDP growth for Q4 at 7.8% was below market expectation. Election results comforted market with ruling party winning in three states, indicating stability at Centre and continuation of reforms process. There were concerns amongst market participants that recent corruption investigations may have led to loss of confidence in ruling party. The news flow from global markets remained mixed. Crude oil prices softened in May after surging significantly in April. The US GDP grew at 1.8% in first quarter of 2011, lower than consensus expectations of 2%. Fears of early removal of stimulus package (QE2) kept major world indices on tenterhooks, with flat to negative returns in most markets.

ECONOMY Sector Performance s witnessed risk aversion owing to volatile economic environment. Defensive sectors were in favor. The sectors which performed well in month of May were Fast M o v i n g C o n s u m e r G o o d s ( F M C G s ), Pharmaceuticals and Capital Goods while interest rate sensitive sectors such as Banking and s underperformed. Sectors with global linkages such as Metals and Information Technology also underperformed. Pharmaceutical sector outperformed broader indices on back of good set of results. Most of pharmaceutical companies exhibited strong sales and profit growth, led by increased demand from domestic market and continued traction in exports segment. Consumer companies also reported strong numbers. However, margin pressures were evident given higher commodity prices and strong wage inflation. The results of companies were a mixed bag. Two wheeler manufacturers showed decent results on back of strong volume growth and price hikes. However, four wheeler and commercial vehicle manufacturers exhibited weak operational performance, due to inadequate price hikes and higher commodity prices. Banking sector results were also a mixed bag, with disappointing result from some of PSU banks. Higher provision for staff cost and increase in Non Performing Assets (NPA s) impacted profitability.

MARKET OUTLOOK Outlook on Equity s The macro-economic situation continues to be challenging owing to a combination of factors such as elevated inflation, high interest rates, slackening corporate investments and slow pace of reforms process. Outlook on Fixed Income Going ahead, uptrend in non-food manufactured inflation and higher oil prices poses an upside risk to inflation. We expect robust economic growth to continue. RBI is expected to continue calibrated process of rate hikes to tame inflation. Bond yields are expected to be range bound with an upward bias due to regular central government borrowing. Currently, 10 year G-Sec bond is trading around 8.41%. Liquidity is expected to be tight in June due to advance tax outflows. The corporate bonds have witnessed widening of spreads across maturities ranging from 130-170 bps. The spreads of 10 year corporate bonds are above ir historical average and currently at around 130 bps. We believe that yields have broadly peaked out and fixed income returns are attractive from a medium term perspective. Despite nine rounds of rate hikes totaling 2.5% increase in interest rates over last 15 months, inflation continues to be high. However, effects of this aggressive tightening have become visible in Q4 GDP growth rate which came in at 7.8%. This is lowest growth in last five quarters. The key upside to corporate growth and profitability remains movement in commodity prices (Crude and Metals) and monsoon impact. A normal monsoon will help to keep food prices in control while fall in commodity prices will alleviate fears of spiraling inflation. Though economic slowdown is evident, corporate earnings for FY12 look robust. There has not been significant earnings downgrade at an overall level. Over next few months, inflation and interest rates will remain centre of focus for government as well as corporates. Any sign of a downward trajectory will surely have positive impact on market. In our opinion, market valuations look attractive from a medium term perspective.

Protector II Investment Objective: To earn regular income by investing in high quality fixed income securities Government & or debt securities The fund will target 100% investments in Government & or debt securities to meet stated objectives 3.3% 5.5% 5.6% 2.1% 4.1% 4.7% Protector II Security Name Wt Rating Government Securities 32.20% GOI 2012 20.88% Sovereign GOI 2011 10.32% Sovereign Ors 1.00% Corporate Bonds 31.10% Reliance Industries Ltd 7.52% AAA TATA Sons Ltd 6.83% AAA HDFC 6.10% AAA Rural Electrification Corporation Ltd 4.60% AAA Tech Mahindra 2.57% AAA LIC Housing Finance Company Ltd 1.38% AAA Reliance Gas Transport Infrastructure 1.04% AAA Ors 1.06% Cash And Money 36.70% Note: has been calculated as per target holding of fund i.e. 100% Debt Securities Security Type Debt Index CRISIL Composite Bond Fund Index Movement since Inception Government Securities 32% 37% Corporate Bonds 31% (Date of inception: 11-Jan-2010) Credit Rating of Debt Portfoilo Govt. Securities 36% AAA/P1+ 64%

Preserver II Investment Objective: To generate income at a level consistent with preservation of capital, through investments in securities issued or guaranteed by central and state Governments. Government & Govt. Guaranteed securities Preserver II Security Name Wt Rating Government Securities 68.63% GOI 2012 60.94% Sovereign GOI 2011 5.51% Sovereign GOI 2015 1.54% Sovereign Ors 0.64% Cash And Money 31.37% The fund will target 100% investments in Government & Govt. Guaranteed Securities to meet stated objectives 3.5% 5.6% 5.6% 1.7% 3.7% 5.0% Note: has been calculated as per target holding of fund i.e. 100% Debt Securities Security Type Debt (GOI) Index ISEC Mi-Bex Movement since Inception 31% Government Securities 69% (Date of inception: 11-Jan-2010) Credit Rating of Debt Portfoilo P1+ 26% Govt. Securities 74%

Balancer II Investment Objective: To generate capital appreciation and current income, through a judicious mix of investments in equities and fixed income securities. Government & or debt securities The fund will target 50% investments in and 50% investments in Government & or debt securities to meet stated objectives. (20th Dec 2009) CAGR since 05th Jan 2010 Security Type Equity Debt -1.9% 5.6% 3.8% 3.9% Note: has been calculated as per target holding of fund i.e. 50% Equity and 50% Debt Securities Index S&P CNX Nifty CRISIL Composite Bond Fund Index -1.5% 6.7% 6.6% 4.2% Balancer II Security Name Wt Rating Government Securities 11.34% GOI 2012 3.06% Sovereign GOI 2021 3.03% Sovereign GOI OIL Bond 2012 2.62% Sovereign GOI 2015 2.44% Sovereign Ors 0.20% Corporate Bonds 27.18% TATA Sons Ltd 7.89% AAA HDFC 3.77% AAA LIC Housing Finance Company Ltd 3.11% AAA Reliance Gas Transport Infrastructure 2.94% AAA Reliance Energy 2.48% AA+ Tech Mahindra 2.33% AAA Larsen & Toubro Ltd 1.30% AAA Bajaj Auto Finance Ltd 1.27% AA+ Ors 2.10% 45.23% ICICI Bank Ltd 2.75% Reliance Industries Ltd 2.70% C Ltd 2.43% Infosys Technologies 2.15% HDFC Bank Ltd 2.12% Larsen & Toubro Ltd 2.02% Bharti Airtel Ltd 1.58% Tata Consultancy Ltd 1.58% HDFC 1.39% State Bank Of India 1.15% Mahindra & Mahindra Ltd 1.10% Ors 24.25% Cash And Money 16.25% Government Securities 11% 16% Media & Telecom 4% 12% 3% Real Estate 1% 8% Commodities 11% Consumer & Pharma 14% 46% Corporate Bonds 27% 11% Finance 26% Construction 10% Credit Rating of Debt Portfoilo Movement since Inception AA+ 10% Gov. Securities 26% AAA/P1+ 64% (Date of inception: 20-Dec-2009)

Multiplier II Investment Objective: To generate long term capital appreciation by investing in diversified equities. The fund will target 100% investments in to meet stated objectives. (21st Dec 2009) CAGR since 05th Jan 2010 Security Type Equity -4.7% 9.0% 3.8% 3.9% Note: has been calculated as per target holding of fund i.e. 100% Equity Securities Index S&P CNX Nifty -5.2% 9.3% 7.9% 3.8% Multiplier II Security Name Wt 89.89% ICICI Bank Ltd 6.54% Reliance Industries Ltd 6.35% C Ltd 5.87% Infosys Technologies 5.86% HDFC Bank Ltd 4.98% Larsen & Toubro Ltd 4.75% HDFC 4.67% Tata Consultancy Ltd 3.80% Bharti Airtel Ltd 3.28% State Bank Of India 3.11% Oil And Natural Gas 2.68% Axis Bank 2.55% Tata Iron And Steel 2.34% Mahindra & Mahindra Ltd 2.26% Tata Motors Ltd 1.97% Sun Pharmaceuticals Industries Ltd 1.94% Sterlite Industries 1.93% Hindalco Ltd 1.93% BHEL 1.92% Jindal Steel & Power Ltd 1.92% HCL Technologies Ltd 1.67% Gail (India) Ltd 1.43% Hindustan Unilever Ltd 1.29% Maruti Suzuki India Ltd 1.22% Tata Powers Ltd 1.12% Bajaj Auto Ltd 1.10% Kotak Mahindra Bank Ltd 1.08% Cipla Ltd 1.03% Ors 9.30% Cash And Money 10.11% 10% 90% Movement since Inception Media & Telecom 4% 5% 7% Commodities 10% Consumer & Pharma 12% Finance 28% Construction 8% (Date of inception: 21-Dec-2009)

Virtue II Investment Objective: To generate long term capital appreciation by investing in diversified equities of companies promoting healthy life style and enhancing quality of life. The fund will target 100% investments in to meet stated objectives. -4.8% 5.1% 1.5% Virtue II Security Name Wt 86.40% Infosys Technologies 6.78% Reliance Industries Ltd 6.77% Larsen & Toubro Ltd 4.54% Tata Consultancy Ltd 3.73% Bharti Airtel Ltd 3.27% Mahindra & Mahindra Ltd 2.75% Tata Iron And Steel 2.68% Tata Motors Ltd 2.54% Oil And Natural Gas 2.52% BHEL 2.35% Sterlite Industries 2.11% Grasim Industries Ltd 2.06% Hindalco Ltd 2.03% Jindal Steel & Power Ltd 1.98% Sun Pharmaceuticals Industries Ltd 1.97% Bajaj Auto Ltd 1.94% Dr. Reddys Laboratories Ltd 1.94% Gail (India) Ltd 1.83% Maruti Suzuki India Ltd 1.67% HCL Technologies Ltd 1.63% NTPC 1.53% Lupin Ltd 1.47% Coal India Ltd 1.30% Tata Powers Ltd 1.23% Cadila Healthcare Ltd 1.20% United Phosphorus Ltd 1.11% Hindustan Unilever Ltd 1.09% Cipla Ltd 1.06% Glaxosmithkline Pharmaceuticals Ltd 1.03% Nestle India Ltd 1.02% Ors 17.28% 13.60% 14% 86% Movement since Inception 7% Real Estate 1% 17% Commodities 17% Telecom 4% 16% Construction 11% Consumer & Pharma 14% (Date of inception: 12- Jan-2010)

Flexi Cap Investment Objective: To generate long-term capital appreciation from an actively managed portfolio of diversified stocks across market capitalization spectrum. The fund will target 100% investments in to meet stated objectives. -6.3% 7.7% 3.7% -6.1% 6.9% 4.2% Note: has been calculated as per target holding of fund i.e. 100% Equity Securities Security type Equity Index BSE 200 Index Flexi Cap Security Name Wt 86.42% ICICI Bank Ltd 5.24% Reliance Industries Ltd 5.20% Infosys Technologies 4.40% C Ltd 4.19% Larsen & Toubro Ltd 3.78% HDFC Bank Ltd 3.69% HDFC 2.98% Bharti Airtel Ltd 2.91% Tata Consultancy Ltd 2.63% State Bank Of India 2.46% Oil And Natural Gas 1.87% Hindalco Ltd 1.75% Tata Iron And Steel 1.68% Mahindra & Mahindra Ltd 1.59% Jindal Steel & Power Ltd 1.45% Axis Bank 1.41% Sterlite Industries 1.41% BHEL 1.39% HCL Technologies Ltd 1.34% Sun Pharmaceuticals Industries Ltd 1.19% Cadila Healthcare Ltd 1.14% Grasim Industries Ltd 1.14% Ors 31.58% 13.58% 14% 86% Movement since Inception Media & Telecom 4% 3% Real Estate 1% 6% Commodities 12% 11% Consumer & Pharma 14% Finance 26% Construction 10% (Date of inception: 22-Dec-2009)

Return Guarantee Fund - I Investment Objective: To outperform minimum guaranteed at end of 5 year period from date of launch of a Tranche through a mix of debt and/or equity instruments. Government & or debt securities The fund will target 7% investments in and 93% investments in Government & or debt securities to meet stated objectives 0.4% 2.6% 3.9% Return Guarantee Fund - I Security Name Wt Rating Government Securities 23.44% GOI 2015 23.44% Sovereign Corporate Bonds 63.25% Rural Electrification Corporation Ltd 8.64% AAA IL&FS 8.47% AAA HDFC 8.41% AAA Power Grid Corporation Ltd 8.37% AAA Power Finance Corporation Ltd 8.36% AAA Tech Mahindra 8.30% AAA Reliance Gas Transport Infrastructure 7.00% AAA SAIL 5.69% AAA 5.95% 7.37% Government Securities 24% 7% 15% 16% Media & Telecom 1% Media & Telecom 1% 6% Pow Real erestate 6% 0% 10% 9% Commodities Commodities 8% 8% Consumer & Consumer & Pharma 9% 9% 6% Corporate Bonds 63% 15% 15% Finance 23% Finance 24% Construction Construction 12% Credit Rating of Debt Portfoilo Movement since Inception Govt. Securities 27% AAA 73% (Date of inception: 21-Dec-2009)

Return Guarantee Fund - II Investment Objective: To outperform minimum guaranteed at end of 5 year period from date of launch of a Tranche through a mix of debt and/or equity instruments. Government & or debt securities The fund will target 7% investments in and 93% investments in Government & or debt securities to meet stated objectives 0.5% 2.8% 3.7% Return Guarantee Fund - II Security Name Wt Rating Government Securities 23.87% GOI 2015 23.87% Sovereign Corporate Bonds 60.89% Rural Electrification Corporation Ltd 8.81% AAA SAIL 8.80% AAA HDFC 8.79% AAA Power Finance Corporation Ltd 8.68% AAA Power Grid Corporation Ltd 8.68% AAA IL&FS 8.59% AAA Reliance Gas Transport Infrastructure 8.54% AAA 6.78% 8.46% Note: "Ors"comprises of combined exposure to securities Government Securities 24% 8% 8% 7% Commodities 7% Media & Telecom 3% Consumer & Pharma 10% 7% 16% Construction 9% Corporate Bonds 61% Finance 27% Credit Rating of Debt Portfoilo Movement since Inception Govt. Securities 27% AAA/P1+ 73% (Date of inception: 24-Feb-2010)

Protector Investment Objective: To earn regular income by investing in high quality fixed income securities Government & or debt securities The fund will target 100% investments in Government & or debt securities to meet stated objectives Last 3 year (CAGR) Last 5 year (CAGR) 2.2% 3.7% 8.0% 7.2% 6.4% 2.1% 4.1% 5.9% 5.8% 5.4% Protector Security Name Wt Rating Government Securities 31.57% GOI 2012 23.75% Sovereign GOI 2032 2.48% Sovereign GOI 2015 1.73% Sovereign SDL West Bengal 2019 1.25% Sovereign Ors 2.36% Corporate Bonds 32.65% HDFC 7.91% AAA Rural Electrification Corporation Ltd 5.65% AAA Reliance Gas Transport Infrastructure 5.55% AAA LIC Housing Finance Company Ltd 4.21% AAA Tech Mahindra 3.58% AAA IL&FS 2.91% AAA Reliance Industries Ltd 1.09% AAA Ors 1.75% Cash And Money 35.78% Note: has been calculated as per target holding of fund i.e. 100% Debt Securities Security Type Debt Index CRISIL Composite Bond Fund Index Movement since Inception Government Securities 31% 36% Corporate Bonds 33% (Date of inception: 04- Feb-2005) Credit Rating of Debt Portfoilo Govt. Securities 33% AAA/P1+ 67%

Preserver Investment Objective: To generate income at a level consistent with preservation of capital, through investments in securities issued or guaranteed by central and state Governments. Government & Govt. Guaranteed securities The fund will target 100% investments in Government & Govt. Guaranteed Securities to meet stated objectives Preserver Security Name Wt Rating Government Securities 81.39% GOI 2015 36.63% Sovereign GOI 2017 32.37% Sovereign GOI 2012 5.74% Sovereign GOI 2011 3.95% Sovereign SDL Tami Nadu 2011 1.85% Sovereign Ors 0.86% 18.61% Last 3 year (CAGR) Last 5 year (CAGR) 1.7% 2.8% 6.3% 5.8% 5.5% 1.7% 3.7% 6.8% 6.8% 6.2% Note: has been calculated as per target holding of fund i.e. 100% Debt Securities Security Type Debt (GOI) Index ISEC Mi-Bex Movement since Inception 19% Government Securities 81% (Date of inception: 10-Feb-2005) Credit Rating of Debt Portfoilo P1+ 16% Govt. Securities 84%

Moderator Investment Objective: To earn regular income by investing in high quality fixed income securities and to generate capital appreciation by investing a limited portion in equity. Government & or debt securities The fund will target 20% investments in and 80% investments in Government & or debt securities to meet stated objectives. Last 3 year (CAGR) Last 5 year (CAGR) Security Type Equity Debt 0.4% 3.8% 7.3% 8.2% 8.5% Index S&P CNX Nifty CRISIL Composite Bond Fund Index 0.7% 5.1% 5.6% 7.3% 8.3% Note: has been calculated as per target holding of fund i.e. 20% Equity and 80% Debt Securities Moderator Security Name Wt Rating Government Securities 14.67% GOI 2012 7.10% Sovereign GOI 2011 3.80% Sovereign GOI 2032 2.54% Sovereign Ors 1.22% Corporate Bonds 46.02% Reliance Gas Transport Infrastructure 7.58% AAA Tech Mahindra 7.32% AAA IL&FS 6.19% AAA HDFC 6.11% AAA Bajaj Auto Finance Ltd 4.59% AA+ Reliance Capital Ltd 4.08% AAA Rural Electrification Corporation Ltd 3.85% AAA Power Finance Corporation Ltd 2.30% AAA Sundaram Finance Ltd 2.15% AA+ LIC Housing Finance Company Ltd 1.10% AAA Ors 0.75% 19.92% Infosys Technologies 1.50% Larsen & Toubro Ltd 1.40% Reliance Industries Ltd 1.29% C Ltd 1.26% ICICI Bank Ltd 1.09% Ors 13.38% 19.40% Government Securities 15% 19% 12% 6% Real Estate 1% 8% Commodities 10% 20% Media & Telecom 4% Consumer & Pharma 12% Corporate Bonds 46% 12% Finance 24% Construction 11% Credit Rating of Debt Portfoilo Movement since Inception Govt. Securities 21% AA+ 10% AAA/P1+ 69% (Date of inception: 08- Feb-2005)

Balancer Investment Objective: To generate capital appreciation and current income, through a judicious mix of investments in equities and fixed income securities. Government & or debt securities The fund will target 50% investments in and 50% investments in Government & or debt securities to meet stated objectives. Last 3 year (CAGR) Last 5 year (CAGR) Security Type Equity Debt -1.9% 5.1% 6.3% 9.8% 11.5% Note: has been calculated as per target holding of fund i.e. 50% Equity and 50% Debt Securities Index S&P CNX Nifty CRISIL Composite Bond Fund Index -1.5% 6.7% 5.2% 9.4% 12.1% Balancer Security Name Wt Rating Government Securities 11.49% GOI 2012 2.79% Sovereign GOI 2011 2.08% Sovereign GOI 2015 1.43% Sovereign GOI 2013 1.39% Sovereign Ors 3.80% Corporate Bonds 29.11% Reliance Capital Ltd 7.56% AAA LIC Housing Finance Company Ltd 5.25% AAA Sundaram Finance Ltd 2.63% AA+ HDFC 1.83% AAA IL&FS 1.82% AAA Reliance Gas Transport Infrastructure 1.76% AAA Bajaj Auto Finance Ltd 1.59% AA+ L&T Finance Ltd 1.32% AA+ Power Grid Corporation Ltd 1.01% AAA Reliance Industries Ltd 1.00% AAA Ors 3.33% 46.49% ICICI Bank Ltd 3.34% Reliance Industries Ltd 3.33% Infosys Technologies 3.04% C Ltd 3.03% HDFC Bank Ltd 2.72% Larsen & Toubro Ltd 2.30% HDFC 1.84% Tata Consultancy Ltd 1.82% State Bank Of India 1.74% Bharti Airtel Ltd 1.60% Oil And Natural Gas 1.34% Mahindra & Mahindra Ltd 1.28% Tata Iron And Steel 1.26% Axis Bank 1.25% BHEL 1.15% Tata Motors Ltd 1.08% Sterlite Industries 1.01% Sun Pharmaceuticals Industries Ltd 1.01% Ors 12.36% 12.91% 47% Government Securities 11% Corporate Bonds 29% Media & Telecom 3% 14% 5% Real Estate 1% Finance 26% 7% Commodities 9% Consumer & Pharma Construction 9% Credit Rating of Debt Portfoilo Movement since Inception Govt. Securities 26% AA+ AAA/P1+ 61% (Date of inception: 08- Feb-2005)

Accelerator Investment Objective: To achieve capital appreciation by investing predominantly in equities, with limited investment in fixed income securities. Government & or debt securities The fund will target 80% investments in and 20% investments in Government & or debt securities to meet stated objectives. Last 3 year (CAGR) Last 5 year (CAGR) Security Type Equity Debt -4.3% 5.9% 4.9% 11.0% 14.4% Note: has been calculated as per target holding of fund i.e. 80% Equity and 20% Debt Securities Index S&P CNX Nifty CRISIL Composite Bond Fund Index -3.7% 8.3% 4.8% 11.4% 15.2% Accelerator Security Name Wt Rating Government Securities 0.84% Ors 0.84% Sovereign Corporate Bonds 18.23% Reliance Capital Ltd 4.14% AAA Bajaj Auto Finance Ltd 2.58% AA+ LIC Housing Finance Company Ltd 2.54% AAA HDFC 2.30% AAA Rural Electrification Corporation Ltd 1.46% AAA Sundaram Finance Ltd 1.42% AA+ Ors 3.79% 75.82% Reliance Industries Ltd 5.74% ICICI Bank Ltd 5.54% C Ltd 4.79% Infosys Technologies 4.69% Larsen & Toubro Ltd 4.34% HDFC Bank Ltd 3.65% HDFC 3.01% Tata Consultancy Ltd 2.87% Oil And Natural Gas 2.81% Bharti Airtel Ltd 2.76% State Bank Of India 2.71% BHEL 2.35% Tata Iron And Steel 2.18% Axis Bank 2.11% Sterlite Industries 1.97% Tata Motors Ltd 1.89% Mahindra & Mahindra Ltd 1.85% Hindalco Ltd 1.62% Sun Pharmaceuticals Industries Ltd 1.57% Gail (India) Ltd 1.55% NTPC 1.35% Hindustan Unilever Ltd 1.30% HCL Technologies Ltd 1.19% Jindal Steel & Power Ltd 1.14% Cairn India Ltd 1.11% Punjab National Bank 1.08% Maruti Suzuki India Ltd 1.04% Ors 7.59% 5.11% Government Securities 1% 5% Corporate Bonds 18% Media & Telecom 4% 15% 6% 7% Commodities 10% Consumer & Pharma 11% 76% Finance 25% Construction 9% Credit Rating of Debt Portfoilo Movement since Inception Govt. Securities 6% AA+ 20% AAA/P1+ 74% (Date of inception: 07- Feb-2005)

Multiplier Investment Objective: To generate long term capital appreciation by investing in diversified equities. The fund will target 100% investments in to meet stated objectives. Last 3 year (CAGR) Last 5 year (CAGR) Security Type Equity -5.5% 7.4% 3.7% 11.3% 15.4% Index S&P CNX Nifty -5.2% 9.3% 4.5% 12.6% 17.1% Note: has been calculated as per target holding of fund i.e. 100% Equity Securities Multiplier Security Name Wt 95.76% Reliance Industries Ltd 6.77% ICICI Bank Ltd 6.59% Infosys Technologies 6.27% C Ltd 6.17% Larsen & Toubro Ltd 4.76% HDFC Bank Ltd 4.75% HDFC 4.41% Tata Consultancy Ltd 4.14% State Bank Of India 3.22% Bharti Airtel Ltd 3.17% Oil And Natural Gas 3.03% Axis Bank 2.56% Tata Iron And Steel 2.41% Mahindra & Mahindra Ltd 2.28% BHEL 2.22% Tata Motors Ltd 2.20% Sterlite Industries 2.03% Sun Pharmaceuticals Industries Ltd 1.87% Hindalco Ltd 1.86% Hindustan Unilever Ltd 1.74% Tata Powers Ltd 1.69% Cairn India Ltd 1.63% Punjab National Bank 1.58% Jindal Steel & Power Ltd 1.52% Gail (India) Ltd 1.49% HCL Technologies Ltd 1.42% Jaiprakash Associates Ltd 1.12% Dr. Reddys Laboratories Ltd 1.10% Ors 11.78% 4.24% 4% Media & Telecom 3% 14% 6% Real Estate 1% 7% Commodities 9% Consumer & Pharma 12% 96% Finance 26% Construction 9% Movement since Inception (Date of inception: 07- Feb-2005)

Virtue Investment Objective: To generate long term capital appreciation by investing in diversified equities of companies promoting healthy life style and enhancing quality of life. The fund will target 100% investments in to meet stated objectives. -5.5% 4.9% 1.9% Virtue Security Name Wt 88.72% Reliance Industries Ltd 6.74% Infosys Technologies 6.55% Larsen & Toubro Ltd 5.62% Tata Consultancy Ltd 3.50% Bharti Airtel Ltd 3.32% Jindal Steel & Power Ltd 3.29% Oil And Natural Gas 3.26% BHEL 2.99% Sun Pharmaceuticals Industries Ltd 2.92% Mahindra & Mahindra Ltd 2.87% Tata Iron And Steel 2.79% Gail (India) Ltd 2.66% Tata Motors Ltd 2.63% Sterlite Industries 2.22% Hindalco Ltd 2.21% Hindustan Unilever Ltd 2.17% Bajaj Auto Ltd 1.96% HCL Technologies Ltd 1.72% Dr. Reddys Laboratories Ltd 1.57% Grasim Industries Ltd 1.46% Tata Powers Ltd 1.46% Coal India Ltd 1.34% Maruti Suzuki India Ltd 1.33% Cipla Ltd 1.30% Lupin Ltd 1.22% NTPC 1.20% Jaiprakash Associates Ltd 1.19% Wipro 1.18% BPCL 1.11% Gujarat State Petronet Ltd 1.09% Reliance Infrastructure Ltd 1.02% Ors 12.82% 11.28% 11% 89% Movement since Inception 8% Real Estate 1% 11% 19% Commodities 17% Telecom 4% 15% Construction Consumer & Pharma 12% (Date of inception: 27- Feb-2008)

MetLife India Insurance Co. Ltd. (Insurance Regulatory and Development Authority, Life Insurance Registration No.117) Registered Office: 'Brigade Seshamahal', 5 Vani Vilas Road, Basavanagudi, Bangalore-560004. Tel: +91 80-2643 8638. Toll Free: 1-800-425-6969 www.metlife.co.in MetLife India Insurance Co. Ltd. Insurance is subject matter of solicitation. LD/2011-12/194. 2011 PNTS. EC56. 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