ULIP Fund Monthly Fund Performance May 2017 Edition THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT.THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
From the CIO s desk Monthgoneby Asnapshot Emerging market equities rallied for the fifth consecutive month. While the developed market index rose by 9% YTD, the emerging market index outperformed with 17% return. India also followed led by improving trend in corporate earnings and strong flows by domestic and foreign institutional investors (FIIs). The GST rates for majority of the categories were on expected lines. Fixed income market ended the month on positive note amid strong FII inflows. Going forward, stance of RBI and Fed in the upcoming policy meetings and impact of GST implementation are crucial factors for equity as well as fixed income markets. Demonetisation hits Q4 FY17 GDP growth India s Q4 FY17 GDP growth slowed to 6.1% y-y from 7.0% in Q3, reflecting the lagged effect of demonetisation. This was led by contraction in construction sector growth and slowdown in manufacturing and private services sectors. While private consumption growth moderated, fixed capital formation contracted for the first time in three years. The FY17 GDP growth was unchanged at 7.1% led by upward revision in previous quarters. We expect GDP growth to revive in FY18 led by pick-up in consumption and higher public spending, notwithstanding transitory negative impact due to GST implementation. Q4 FY17 corporate earnings show an improving trend Aggregate corporate earnings in Q4 FY17 showed an improvement largely led by strong growth in Banking, Energy and Metals sectors. Further, pick-up in volumes for Consumer sector signals moderate normalisation post demonetisation. On the negative side, Pharmaceuticals, Technology and Telecom saw weak earnings growth. We expect corporate earnings to improve in FY18 led by pickup in economic activity and higher public spending. Fixed income market performance Fixed income market rallies: After a sell-off in April, fixed income market ended May on a positive note amid strong FII inflows (May: $3bn; YTD: $11bn). The declining inflation trajectory and expectations of a normal monsoon, coupled with decline in global bond yields, boosted market sentiments. The 10-year g-sec yield ended the month at 6.7% vs. 7.0% in April-end. Outlook: The recent inflation trajectory, coupled with timely onset of monsoon, is expected to keep market sentiments positive. Inflation is likely to undershoot RBI s average estimate of 4.5% in H1 FY18 amid positive domestic developments and abating global risks. This, along with weak Q4 GDP growth, may lead to RBI softening its stance in the upcoming policy meeting on June 7th. However, adverse domestic risks to inflation arising from full implementation of 7th Pay Commission recommendations, transitory impact of GST and possibility of a weak monsoon (in terms of temporal and spatial distribution) still persist. As such, RBI is likely to keep rates on hold in the near-term. Equity market performance Equity market continues the strong show: Indian equity markets rallied for the fifth consecutive month facilitated by strong inflows from FIIs and domestic institutional investors (DIIs). The rally was led by 1) improving trend in Q4 FY17 corporate earnings, 2) expectations of a normal monsoon and 3) announcement of GST rates on expected lines. The FIIs turned buyers in May with net inflows at $1.5bn (YTD: $8bn). While Nifty Index rose by 3. in May (18% YTD), the mid-cap index declined by 1.2% (22% YTD). Outlook: While the underlying momentum remains strong, rich valuations may result in equity markets consolidating in the nearterm. On the global front, US trade and fiscal policies as well as monetary policies of global central banks remain crucial factors for equity markets. On the domestic front, progress of monsoon and impact of GST implementation are likely to determine equity market trajectory in the near-term. Our medium-term outlook on the market remains strong on account of 1) pick-up in economic activity led by consumption and higher public spending and 2) continued revival in corporate earnings. Sanjay Kumar Chief Investment Officer Glossary Back
Economic and market snapshot Indicators May-16 Feb-17 May-17 Q-o-Q Variation Y-o-Y Variation Economic indicators Wholesale Price Index (WPI) Inflation (%) -1.1 4.3 3.9-0.4 5.0 Consumer Price Index (CPI) Inflation (%) 5.5 3.2 3.0-0.2-2.5 Gross Domestic product (GDP Growth) (%) 9.2 7.0 6.1-0.9-3.1 Index of Industrial Production (IIP) (%) 5.5 2.6 2.7 0.1-2.8 Domestic s Nifty 50 Index 8,160 8,880 9,621 8% 18% BSE Mid-cap Index 11,366 13,552 14,625 8% 29% 10-year G-Sec Yield (%) 7.5 6.9 6.7-20 bps -80 bps 10-year AAA PSU Corporate Bond Yield (%) 8.2 7.7 7.7 0 bps -50 bps 30-year G-Sec Yield (%) 7.9 7.4 7.4 0 bps -50 bps Exchange rate (USD/INR) 67.3 66.7 64.5-3% - Global s Dow Jones (U.S.) 17,787 20,812 21,009 1% 18% FTSE (U.K.) 6,231 7,263 7,520 21% Shanghai Stock Exchange Composite Index (China) 2,917 3,242 3,117-7% Brent crude oil (USD/barrel) 50 56 50-9% 1% Source: Central Statistics Organisation (CSO), RBI, Bloomberg 10-year government bond yield trend (%) 10-year benchmark yield 8.0 7.8 7.6 7.5 7.4 7.2 7.0 7.0 6.8 6.6 6.7 6.4 6.2 6.2 6.0 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Source: Bloomberg Equity performance NIFTY BSE Mid-cap Index 15,600 14,000 13,550 14,625 12,400 10,800 9,200 8,867 11,506 9,621 7,600 7.986 6,000 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Source: Bloomberg Glossary Back
How can an insurance policy help protect and bolster your future investments? Have you thought about how your family will continue with their current lifestyle if you were not there tomorrow? Will your spouse be able to pay the children s school fees? Will your parents be able to get the medical attention they require? If not, its not late even now. The primary reason for investing in an insurance plan should be to ensure that the family income is protected even if something unfortunate were to happen to the breadwinner. With the evolution of the financial services category, the insurance plans also serve an important objective of creating a corpus for planned expenses like retirement, prepayment of loans or child s education or marriage. Interestingly, as per Nielsen Life 2013 research, while 51% have quoted protection as the key reason for investing in life insurance, close to 46% are investing for their child s future and 43% for retirement. Now let s look at various options available for you to build a robust financial portfolio. To begin with, you should look at a term plan to ensure that your family receives a lump-sum incase something unfortunate were to happen impacting the regular income flow. There are income protection plans also available to ensure regular income for your family. After reviewing your financial portfolio and lifestage, you should consider investing towards retirement to protect your golden years. If you have children, it is advisable to consider investing in an insurance plan at an early stage to build a corpus. While there are many instruments available for savings in the market, insurance is the only product that ensures that the savings you planned for is available for your child/ family whether you are around or not. This is possible due to the life cover attached to your policy which ensures a lump-sum incase of death of the primary wage earner. Some select child plans also come with the waiver of premium feature which ensures that all premiums are paid by the insurance company incase something happens to the parent and the child gets the corpus planned on maturity. The key to ensuring that your family is financially secure is to start early and to understand your financial goals before choosing products.
MetInvest Monthly Fund Performance Newsletter MARKET OVERVIEW FUND PERFORMANCE OUR POPULAR PRODUCTS FUND CATEGORY EQUITY BALANCED DEBT Flexicap Balancer II Protector II Multiplier II Accelerator Preserver II Multiplier III Balancer Liquid Virtue II Moderator Protector Multiplier Preserver Virtue Discontinued Policy
Fund Performance (Open Funds) - A Snapshot High Risk Benchmark (BM) 1 - Year (%) 3 - Year (%) 5 - Year (%) Fund BM Fund BM Fund BM Flexi Cap S&P BSE 200 18.9 21.0 12.9 12.2 16.2 15.8 Multiplier II Nifty 50 14.0 17.9 8.7 10.0 13.1 14.3 Virtue II 19.6 NA 16.2 NA 17.2 NA Medium Risk Balancer II 50% CCBFI 50% Nifty 50 13.9 14.4 10.9 10.3 11.8 12.0 Low Risk Protector II CCBFI 10.3 10.9 9.7 10.7 8.9 9.4 Preserver II ISEC Mibex 10.0 9.8 9.5 10.6 8.1 9.7 CCBFI- CRISIL Composite Bond Fund Index Glossary 5 Page Back
Risk - Return Matrix Open Funds - Funds that are open for sales to new customers Flexicap Virtue II Multiplier II Return Balancer II Multiplier III Protector II Preserver II Liquid LOW MEDIUM HIGH Risk Closed Funds - Funds that are closed for sales to new customers Virtue Multiplier Return Balancer Accelerator Moderator Protector Preserver LOW MEDIUM HIGH Risk Glossary 6 Page Back
7 Page Flexi Cap (Open Fund) SFIN No: ULIF01315/12/09FLEXICAPFN117 Investment Objective: To generate long-term capital appreciation from an actively managed portfolio of diversified stocks across the market capitalization spectrum. Investment Philosophy: The fund will target 100% investments in Equities to meet the stated objectives. Funds managed by the Amit Shah Equity - 4 Debt - 0 Balanced - 2 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 605 crore Rs. 19.8998 Portfolio Return Asset Classes F&U Actual Equity 60-100% 97.0% Cash & Money 0-40% 3.0% Last 1 Last 6 Last 1 Last 2 Last 3 Since Since Month Months Year Years Years 05-Jan-10 Inception Portfolio Components Portfolio return 1.9% 16.3% 18.9% 7.9% 12.9% 9.6% 9.7% Benchmark* 2.0% 17.1% 21.0% 8.6% 12.2% 8.9% 9.6% Security Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on S&P BSE 200 index for Equity TOP 10 EQUITY SECURITIES I T C LTD. 6.6% H D F C BANK LTD. 5.6% Asset Under Management (AUM) (Rs crores) RELIANCE INDUSTRIES LTD. 4.7% 18 (3%) INFOSYS LTD. 3.9% I C I C I BANK LTD. 3.9% R*SHARES BANK BEES ETF 3.8% MARUTI SUZUKI INDIA LTD. 3.1% LARSEN & TOUBRO LTD. 2.7% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2.7% KOTAK BANKING ETF 2.7% 57.2% TOTAL 97.0% Equity 587 (97%) CASH AND MONEY MARKET 3.0% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) FINANCIAL AND INSURANCE ACTIVITIES 3% 5% 6% 19% 6% 7% 7% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 8% 25% 10% MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF TOBACCO PRODUCTS MUTUAL FUND INFRASTRUCTURE SECTOR MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS MANUFACTURE OF BASIC METALS CIVIL ENGINEERING 22 20 18 16 14 12 10 8 Dec-09 Mar-11 Jun-12 Sep-13 Dec-14 Feb-16 May-17 Date of Inception: December 22,2009
8 Page Multiplier II (Open Fund) SFIN No: ULIF01115/12/09MULTIPLIE2117 Investment Objective: To generate long term capital appreciation by investing in diversified equities. Investment Philosophy: The fund will target 100% investments in Equities to meet the stated objectives. Funds managed by the Amit Shah Equity - 4 Debt - 0 Balanced - 2 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 755 crore Rs. 17.5654 Portfolio Return Asset Classes F&U Actual Equities 60-100% 98.5% Money Instruments 0-40% 1.5% Last 1 Last 6 Last 1 Last 2 Last 3 Since Since Month Months Year Years Years 05-Jan-10 Inception Portfolio Components Portfolio return 2.6% 14.9% 14.0% 5.3% 8.7% 7.9% 7.9% Benchmark* 3. 17.0% 17.9% 6.8% 10.0% 8. 9.2% Security Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on Nifty 50 index for Equity TOP 10 EQUITY SECURITIES I T C LTD. 7.8% H D F C BANK LTD. 7.1% Asset Under Management (AUM) (Rs crores) RELIANCE INDUSTRIES LTD. 6.3% Equity 744 (98%) Sector Allocation (As per NIC Classification*) 11 (2%) INFOSYS LTD. 5.1% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.9% KOTAK BANKING ETF 4.8% LARSEN & TOUBRO LTD. 4.5% I C I C I BANK LTD. 3.9% MARUTI SUZUKI INDIA LTD. 3.6% MAHINDRA & MAHINDRA LTD. 2.6% 47.7% TOTAL 98.5% CASH AND MONEY MARKET 1.5% PORTFOLIO TOTAL 100.0% FINANCIAL AND INSURANCE ACTIVITIES 3% 13% 25% MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS 5% MANUFACTURE OF TOBACCO PRODUCTS MUTUAL FUND 20 18 6% 7% 8% 9% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 10% 10% MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS INFRASTRUCTURE SECTOR CIVIL ENGINEERING MANUFACTURE OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL PRODUCTS 16 14 12 10 8 Dec-09 Mar-11 Jun-12 Sep-13 Dec-14 Feb-16 May-17 Date of Inception: December 21,2009
9 Page Multiplier III Fund (Open Fund) SFIN No: ULIF01809/10/15MULTIPLIE3117 Investment Objective: To generate long term capital appreciation by investing in diversified equities (predominantly large caps). Investment Philosophy: The fund will target 100% investments in Equities to meet the stated objectives. Funds managed by the Amit Shah Equity - 4 Debt - 0 Balanced - 2 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 2.48 crore Rs. 11.0191 Portfolio Return Asset Classes F&U Actual Equities 60-100% 96.9% Money Instruments 0-40% 3.1% Last 1 Month Last 6 Months Last 1 Year Last 2 Years Last 3 Years Since Inception Portfolio Components Portfolio return 2.6% 14.6% - - - 10.2% Benchmark* 3. 17.0% - - - 12.0% Security Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on Nifty 50 index for Equity TOP 10 EQUITY SECURITIES I T C LTD. 8.0% H D F C BANK LTD. 6.9% Asset Under Management (AUM) (Rs crores) RELIANCE INDUSTRIES LTD. 6.3% 0.08 (3%) INFOSYS LTD. 5.1% KOTAK BANKING ETF 4.9% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.7% LARSEN & TOUBRO LTD. 4.6% I C I C I BANK LTD. 4.0% MARUTI SUZUKI INDIA LTD. 3.8% MAHINDRA & MAHINDRA LTD. 2.7% 45.9% TOTAL 96.9% Equity 2.40 (97%) CASH AND MONEY MARKET 3.1% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) 5% 3% 7% 16% 8% 9% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 2 10% 10% FINANCIAL AND INSURANCE ACTIVITIES MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS MANUFACTURE OF TOBACCO PRODUCTS MUTUAL FUND CIVIL ENGINEERING MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS INFRASTRUCTURE SECTOR MANUFACTURE OF BASIC METALS 12 11 10 9 8 Jul-16 Sep-16 Nov-16 Dec-16 Feb-17 Apr-17 May-17 Date of Inception: July 26,2016
10 Page Virtue II (Open Fund) SFIN No: ULIF01215/12/09VIRTUE2FND117 Investment Objective: To generate long term capital appreciation by investing in diversified equities of companies promoting healthy life style and enhancing quality of life. Investment Philosophy: The fund will target 100% investments in Equities to meet the stated objectives. Funds managed by the Amit Shah Equity - 4 Debt - 0 Balanced - 2 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 58 crore Rs. 20.2840 Portfolio Return Asset Classes F&U Actual Equities 60-100% 92.7% Money Instruments 0-40% 7.3% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 0.5% 14.6% 19.6% 8.0% 16.2% 10.0% Security Net Assets Note: Past returns are not indicative of future performance. TOP 10 EQUITY SECURITIES INFOSYS LTD. 4.9% MARUTI SUZUKI INDIA LTD. 4.7% Asset Under Management (AUM) (Rs crores) RELIANCE INDUSTRIES LTD. 4.1% 4 (7%) INDIAN OIL CORPN. LTD. 4.0% G A I L (INDIA) LTD. 3.2% H C L TECHNOLOGIES LTD. 3.0% ULTRATECH CEMENT LTD. 3.0% GRASIM INDUSTRIES LTD. 2.9% MOTHERSON SUMI SYSTEMS LTD. 2.6% BRITANNIA INDUSTRIES LTD. 2.5% 57.7% TOTAL 92.7% Equity 54 (93%) CASH AND MONEY MARKET 7.3% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) INFRASTRUCTURE SECTOR 23% 5% 6% 8% 1 *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 10% 11% 11% MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS MANUFACTURE OF ELECTRICAL EQUIPMENT MANUFACTURE OF BASIC METALS MANUFACTURE OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL PRODUCTS MANUFACTURE OF FOOD PRODUCTS 22 20 18 16 14 12 10 8 Jan-10 Apr-11 Jun-12 Sep-13 Dec-14 Mar-16 May-17 Date of Inception: January 12,2010
11 Page Balancer II (Open Fund) SFIN No: ULIF01015/12/09BALANCER2F117 Investment Objective: To generate capital appreciation and current income, through a judicious mix of investments in equities and fixed income securities. Investment Philosophy: The fund will target 50% investments in Equities and 50% investments in Government & other debt securities to meet the stated objectives. Portfolio Return Last 1 Month Last 6 Months Last 1 Year Portfolio return 1.9% 7.9% 13.9% 8.3% 10.9% 8. 8. Benchmark* 2. 8.9% 14. 8. 10.3% 8. 8.9% Portfolio Components Note: Past returns are not indicative of future performance. Last 2 Years Last 3 Years Since 05-Jan-10 Since Inception Funds managed by the Amit Shah Equity - 4 Debt - 0 Balanced - 2 Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 365 crore NAV as on 31-05-2017 Rs. 18.1815 Modified Duration (Debt and Money ) 5.2 Asset Classes F&U Actual Government & Other Debt Securities 0-60% 40.1% Equity 0-60% 52.9% Cash & Money 0-40% 7.0% * Benchmark return has been computed by applying benchmark weightages on CRISIL Composite Bond Fund Security Rating Net Assets Index index for Debt and Nifty 50 index for Equity TOP 10 GOVERNMENT SECURITIES Asset Under Management (AUM) (Rs crores) 9.2% GOI 2030 Sovereign 3.2% 9.23% GOI 2043 Sovereign 3.0% 7.61% GOI 2030 Sovereign 2. 8.17% GOI 2044 Sovereign 2.2% 8.38% SDL 2026 Sovereign 1. 8.27% SDL 2026 Sovereign 1. 8.25% SDL 2025 Sovereign 1. 7.59% GOI 2029 Sovereign 1. 6.79% GOI 2027 Sovereign 1. 6.79% GOI 2029 Sovereign 1. 1.5% TOTAL 20.7% TOP 10 CORPORATE BONDS Sector Allocation (As per NIC Classification*) RURAL ELECTRIFICATION CORPN. LTD. AAA 5.9% 2% 2% 2% 5% 6% 16% Equity 193 (53%) 19% 21% 19% 26 (7%) Debt 146 (40%) POWER GRID CORPN. OF INDIA LTD. AAA 5.2% RELIANCE GAS TRANSPORTATION INFRASTRUCTURE AAA 1.8% L I C HOUSING FINANCE LTD. AAA 1.5% POWER FINANCE CORPN. LTD. AAA 1. G A I L (INDIA) LTD. AAA 1. SUNDARAM FINANCE LTD AA+ 0.6% HOUSING DEVELOPMENT FINANCE CORPN. LTD. AAA 0.5% IDFC BANK LIMITED AAA 0. INFRASTRUCTURE LEASING & FINANCIAL SERVICES AAA 0.3% 0.3% TOTAL 19. TOP 10 EQUITY SECURITIES H D F C BANK LTD. 4.3% I T C LTD. 4.0% RELIANCE INDUSTRIES LTD. 2.9% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2.8% I C I C I BANK LTD. 2.5% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 INFOSYS LTD. 2.3% Credit Rating Profile LARSEN & TOUBRO LTD. 2.1% AAA 47% AA+ 1% GOVERNMENT OF INDIA INFRASTRUCTURE SECTOR FINANCIAL AND INSURANCE ACTIVITIES MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS MANUFACTURE OF TOBACCO PRODUCTS MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS CIVIL ENGINEERING HOUSING SECTOR Government Securities 52% MARUTI SUZUKI INDIA LTD. 2.0% STATE BANK OF INDIA 1.5% MAHINDRA & MAHINDRA LTD. 1.5% 27.2% TOTAL 52.9% CASH AND MONEY MARKET 7.0% PORTFOLIO TOTAL 100.0% Maturity by Profile > 7 Years 7 < 1 Year 13% 1 to 3 years 3 to 7 Years 9% 19 18 17 16 15 14 13 12 11 10 9 Dec-09 Mar-11 Jun-12 Sep-13 Dec-14 Feb-16 May-17 Date of Inception: December 20,2009
12 Page Protector II (Open Fund) SFIN No: ULIF00915/12/09PROTECTOR2117 Investment Objective: To earn regular income by investing in high quality fixed income securities Investment Philosophy: The fund will target 100% investments in Government & other debt securities to meet the stated objectives Funds managed by the Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 1053 crore NAV as on 31-05-2017 Rs. 18.5651 Modified Duration (Debt and Money ) 5.2 Portfolio Return Asset Classes F&U Actual Government & Other Debt Securities 60-100% 92.5% Cash & Money 0-40% 7.5% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 1. -0.2% 10.3% 8.8% 9.7% 8.7% Benchmark* 1.3% 0.9% 10.9% 9.9% 10.7% 8.5% Security Rating Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on CRISIL Composite Bond Fund TOP 10 GOVERNMENT SECURITIES 6.79% GOI 2029 Sovereign 9.2% Index index for Debt 8.13% GOI 2045 Sovereign 3.5% Asset Under Management (AUM) (Rs crores) 9.23% GOI 2043 Sovereign 2.7% 79 (8%) Debt 974 (92%) 7.61% GOI 2030 Sovereign 2.5% 6.79% GOI 2027 Sovereign 2. 7.73% GOI 2034 Sovereign 1.5% 6.97% GOI 2026 Sovereign 1. 8. GOI 2024 Sovereign 1. 8.15% GOI 2026 Sovereign 1. 8.38% SDL 2026 Sovereign 1.0% 6.9% TOTAL 33.9% TOP 10 CORPORATE BONDS RELIANCE PORTS & TERMINALS LTD. AAA 8.7% POWER GRID CORPN. OF INDIA LTD. AAA 6.2% Sector Allocation (As per NIC Classification*) POWER FINANCE CORPN. LTD. AAA 5.8% 21% 7% 7% 3 GOVERNMENT OF INDIA INFRASTRUCTURE SECTOR FINANCIAL AND INSURANCE ACTIVITIES TATA SONS LTD. AAA 4.3% RURAL ELECTRIFICATION CORPN. LTD. AAA 4.0% L I C HOUSING FINANCE LTD. AAA 4.0% IDFC BANK LIMITED AAA 3.5% HOUSING DEVELOPMENT FINANCE CORPN. LTD. AAA 3. H D F C BANK LTD. AAA 3. L&T INFRA DEBT FUND LTD AAA 2.5% 12.7% TOTAL 58.6% HOUSING SECTOR CASH AND MONEY MARKET 7.5% PORTFOLIO TOTAL 100.0% 31% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile AA 2% Government Securities 37% AAA 61% Maturity by Profile < 1 Year 9% 1 to 3 years 11% 21 19 17 > 7 Years 6 3 to 7 Years 16% 15 13 11 9 Jan-10 Apr-11 Jun-12 Sep-13 Dec-14 Feb-16 May-17 Date of Inception: January 11,2010
13 Page Preserver II (Open Fund) SFIN No: ULIF00815/12/09PRESERVER2117 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. Investment Philosophy: The fund will target 100% investments in Government & Govt. Guaranteed Securities to meet the stated objectives Funds managed by the Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 66 crore NAV as on 31-05-2017 Rs. 17.7145 Modified Duration (Debt and Money ) 6.1 Portfolio Return Asset Classes F&U Actual Govt & Govt Guaranteed Secs 60-100% 84.2% Money Investments 0-40% 15.8% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 1.5% -2. 10.0% 8.3% 9.5% 8.0% Benchmark* 1.1% 0.8% 9.8% 9.9% 10.6% 8.9% Security Rating Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on ISEC Mibex index for TOP 10 GOVERNMENT SECURITIES 8.13% GOI 2045 Sovereign 12.3% Government & Govt. Guaranteed Securities 8.27% GOI 2020 Sovereign 9.5% Asset Under Management (AUM) (Rs crores) 6.79% GOI 2029 Sovereign 8.3% 10 (16%) 8. GOI 2024 Sovereign 8.1% 7.68% GOI 2023 Sovereign 7.9% 7.73% GOI 2034 Sovereign 6.3% 8.15% GOI 2026 Sovereign 5.7% 7.88% GOI 2030 Sovereign 5.6% 7.61% GOI 2030 Sovereign 5.5% 8.38% SDL 2026 Sovereign 4.8% 10.3% TOTAL 84.2% Debt 56 (8) CASH AND MONEY MARKET 15.8% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) 16% GOVERNMENT OF INDIA 8 *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile Government Securities 100% Maturity by Profile < 1 Year 1 3 to 7 Years 18% 19 18 17 16 15 14 13 12 11 > 7 Years 68% 10 9 Jan-10 Apr-11 Jun-12 Sep-13 Dec-14 Feb-16 May-17 Date of Inception: January 11,2010
14 Page Liquid Fund (Open Fund) SFIN No: ULIF01909/10/15LIQUIDFUND117 Investment Objective: To generate stable returns by investing in very short term debt and money market instruments. Investment Philosophy: The fund will target 100% investments in Government & other debt securities to meet the stated objectives. Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 0.39 crore Funds managed by the Rs. 10.4096 Modified Duration (Debt and Money ) - Portfolio Return Asset Classes F&U Actual Money Instruments 0-100% 100.0% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 0. 2.3% - - - 4.1% Benchmark* 0.5% 2.9% - - - 5.2% Security Net Assets Note: Past returns are not indicative of future performance. CASH AND MONEY MARKET 100.0% * Benchmark return has been computed by applying benchmark weightages on CRISIL CBLO index for CBLO PORTFOLIO TOTAL 100.0% Asset Under Management (AUM) (Rs crores) 0.39 (100%) Sector Allocation (As per NIC Classification*) 100% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Maturity by Profile < 1 Year 100% 10.6 10.5 10.4 10.3 10.2 10.1 10 9.9 9.8 Jul-16 Sep-16 Nov-16 Dec-16 Feb-17 Apr-17 May-17 Date of Inception: July 26,2016
Fund Performance (Closed Funds) - A Snapshot High Risk Accelerator Benchmark (BM) 1 - Year (%) 3 - Year (%) 5 - Year (%) 10 - Year (%) Fund BM Fund BM Fund BM Fund BM 20% CCBFI 80% Nifty 50 13.3 16.5 8.9 10.1 12.0 13.4 7.7 8.3 Multiplier Nifty 50 13.4 17.9 8.0 10.0 12.4 14.3 7.1 8.4 Virtue 18.0 NA 14.9 NA 16.2 NA NA NA Medium Risk Balancer Moderator Low Risk 50% CCBFI 50% Nifty 50 11.8 14.4 9.0 10.3 10.6 12.0 8.1 8.3 80% CCBFI 20% Nifty 50 9.8 12.3 8.9 10.5 8.9 10.5 8.0 8.2 Protector CCBFI 9.3 10.9 9.1 10.7 8.1 9.4 8.2 8.1 Preserver ISEC Mibex 9.5 9.8 9.1 10.6 7.5 9.7 7.1 8.7 CCBFI- CRISIL Composite Bond Fund Index Glossary 15 Page Back
16 Page Multiplier (Closed Fund) SFIN No: ULIF00625/01/05MULTIPLIER117 Investment Objective: To generate long term capital appreciation by investing in diversified equities. Investment Philosophy: The fund will target 100% investments in Equities to meet the stated objectives. Funds managed by the Deb Bhattacharya Equity - 2 Debt - 0 Balanced - 3 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 2013 crore Rs. 39.0361 Portfolio Return Asset Classes F&U Actual Listed Equities 80-100% 97.7% Money Investments 0-40% 2.3% Last 1 Month Last 6 Months Last 1 Year Last 2 Years Last 3 Years Since Inception Portfolio Components Portfolio return 2.5% 14.5% 13. 4.6% 8.0% 11.7% Benchmark* 3. 17.0% 17.9% 6.8% 10.0% 13.2% Security Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on Nifty 50 index for Equity TOP 10 EQUITY SECURITIES I T C LTD. 7.7% H D F C BANK LTD. 6.9% Asset Under Management (AUM) (Rs crores) RELIANCE INDUSTRIES LTD. 6.6% 47 (2%) INFOSYS LTD. 5.1% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.2% KOTAK BANKING ETF 4.2% LARSEN & TOUBRO LTD. 4.2% I C I C I BANK LTD. 4.1% MARUTI SUZUKI INDIA LTD. 3. POWER GRID CORPN. OF INDIA LTD. 3.0% 48.3% TOTAL 97.7% Equity 1966 (98%) CASH AND MONEY MARKET 2.3% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) 5% 1 25% FINANCIAL AND INSURANCE ACTIVITIES MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS MANUFACTURE OF TOBACCO PRODUCTS MUTUAL FUND 43 38 6% 6% 8% 9% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 9% 10% INFRASTRUCTURE SECTOR MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS CIVIL ENGINEERING MANUFACTURE OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL PRODUCTS 33 28 23 18 13 8 Feb-05 Feb-07 Mar-09 Mar-11 Apr-13 May-15 May-17 Date of Inception: February 07,2005
17 Page Virtue (Closed Fund) SFIN No: ULIF00719/02/08VIRTUEFUND117 Investment Objective: To generate long term capital appreciation by investing in diversified equities of companies promoting healthy life style and enhancing quality of life. Investment Philosophy: The fund will target 100% investments in Equities to meet the stated objectives. Funds managed by the Deb Bhattacharya Equity - 2 Debt - 0 Balanced - 3 AUM as on 31-05-2017 NAV as on 31-05-2017 Rs. 100 crore Rs. 19.7971 Portfolio Return Asset Classes F&U Actual Listed Equities 60-100% 94.5% Money Instruments 0-40% 5.5% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 0.0% 13.3% 18.0% 6.3% 14.9% 7.7% Security Net Assets Note: Past returns are not indicative of future performance. TOP 10 EQUITY SECURITIES RELIANCE INDUSTRIES LTD. 5.3% INFOSYS LTD. 5.2% Asset Under Management (AUM) (Rs crores) MARUTI SUZUKI INDIA LTD. 4.2% 5 (5%) INDIAN OIL CORPN. LTD. 4.0% ULTRATECH CEMENT LTD. 3.6% H C L TECHNOLOGIES LTD. 3.1% G A I L (INDIA) LTD. 2.9% GRASIM INDUSTRIES LTD. 2.8% CROMPTON GREAVES CONSUMER ELECTRICAL 2.6% WABCO INDIA LTD. 2. 58.5% TOTAL 94.5% Equity 95 (95%) CASH AND MONEY MARKET 5.5% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) INFRASTRUCTURE SECTOR 3% 5% 6% 20% 6% 7% 9% 16% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 12% 12% MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS MANUFACTURE OF ELECTRICAL EQUIPMENT MANUFACTURE OF BASIC METALS MANUFACTURE OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL PRODUCTS CIVIL ENGINEERING 21 19 17 15 13 11 9 7 5 Feb-08 Sep-09 Mar-11 Oct-12 Apr-14 Nov-15 May-17 Date of Inception: February 27,2008
18 Page Accelerator (Closed Fund) SFIN No: ULIF00525/01/05ACCELERATO117 Investment Objective: To achieve capital appreciation by investing predominantly in equities, with limited investment in fixed income securities. Investment Philosophy: The fund will target 80% investments in Equities and 20% investments in Government & other debt securities to meet the stated objectives. Portfolio Return Last 1 Month Last 6 Months Last 1 Year Last 2 Years Last 3 Years Since Inception Funds managed by the Deb Bhattacharya Equity - 2 Debt - 0 Balanced - 3 Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 245 crore NAV as on 31-05-2017 Rs. 37.8943 Modified Duration (Debt and Money ) 4.7 Asset Classes F&U Actual Govt & Govt Guaranteed Secs 0-40% 5.2% Infrastructure and Social Sector Secs 0-40% 8.3% Listed Equities 60-95% 80.6% 4. 0.1% 1. Portfolio return 2.3% 11.7% 13.3% 5.8% 8.9% 11. Long Term Bonds 0-60% Benchmark* 3.0% 13.8% 16.5% 7. 10.1% 12.3% Short Term Bonds 0-35% Note: Past returns are not indicative of future performance. Money Investments 0-40% * Benchmark return has been computed by applying benchmark weightages on CRISIL Composite Bond Fund Index index for Debt and Nifty 50 index for Equity Portfolio Components Asset Under Management (AUM) (Rs crores) 3 (1%) Debt 44 (18%) Security Rating Net Assets GOVERNMENT SECURITIES 9.23% GOI 2043 Sovereign 2.2% 7.61% GOI 2030 Sovereign 2.1% 8.13% GOI 2045 Sovereign 0.9% TOTAL 5.2% Equity 198 (81%) CORPORATE BONDS RELIANCE GAS TRANSPORTATION INFRASTRUCTURE AAA 6.3% L I C HOUSING FINANCE LTD. AAA 4.5% G A I L (INDIA) LTD. AAA 2.0% TOTAL 12.8% Sector Allocation (As per NIC Classification*) 15% 2 5% 5% 12% 6% FINANCIAL AND INSURANCE ACTIVITIES INFRASTRUCTURE SECTOR MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS MANUFACTURE OF TOBACCO PRODUCTS MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS GOVERNMENT OF INDIA TOP 10 EQUITY SECURITIES H D F C BANK LTD. 7.6% I T C LTD. 6.2% RELIANCE INDUSTRIES LTD. 5.5% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.2% INFOSYS LTD. 4.1% LARSEN & TOUBRO LTD. 4.0% I C I C I BANK LTD. 3.6% MARUTI SUZUKI INDIA LTD. 2.9% MAHINDRA & MAHINDRA LTD. 2.3% POWER GRID CORPN. OF INDIA LTD. 2.3% 37.8% TOTAL 80.6% 6% 7% 8% 8% HOUSING SECTOR CIVIL ENGINEERING CASH AND MONEY MARKET 1. PORTFOLIO TOTAL 100.0% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile Government Securities 29% AAA 71% Maturity by Profile > 7 Years 28% < 1 Year 43 38 33 28 23 18 13 3 to 7 Years 68% 8 Feb-05 Feb-07 Mar-09 Mar-11 Apr-13 May-15 May-17 Date of Inception: February 07,2005
19 Page Balancer (Closed Fund) SFIN No: ULIF00425/01/05BALANCERFN117 Investment Objective: To generate capital appreciation and current income, through a judicious mix of investments in equities and fixed income securities. Investment Philosophy: The fund will target 50% investments in Equities and 50% investments in Government & other debt securities to meet the stated objectives. Portfolio Return Last 1 Month Last 6 Months Last 1 Year Last 2 Years Last 3 Years Since Inception Funds managed by the Deb Bhattacharya Equity - 2 Debt - 0 Balanced - 3 Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 451 crore NAV as on 31-05-2017 Rs. 32.2410 Modified Duration (Debt and Money ) 5.0 Asset Classes F&U Actual Govt & Govt Guaranteed Secs 10-60% 20.2% Infrastructure and Social Sector Secs 0-60% 14.2% Listed Equities 35-65% 55.5% 5.8% 1.2% 3.1% Portfolio return 2.0% 7.1% 11.8% 6.6% 9.0% 10.0% Long Term Bonds 0-60% Benchmark* 2. 8.9% 14. 8. 10.3% 10.8% Short Term Bonds 0-35% Note: Past returns are not indicative of future performance. Money Instruments 0-40% * Benchmark return has been computed by applying benchmark weightages on CRISIL Composite Bond Fund Index index for Debt and Nifty 50 index for Equity Portfolio Components Asset Under Management (AUM) (Rs crores) Security Rating Net Assets TOP 10 GOVERNMENT SECURITIES 6.79% GOI 2029 Sovereign 3.3% 7.59% GOI 2029 Sovereign 3.0% 8.17% GOI 2044 Sovereign 2.9% 8.42% SDL 2026 Sovereign 2.3% 7.73% GOI 2034 Sovereign 2.3% 9.23% GOI 2043 Sovereign 1.3% 6.79% GOI 2027 Sovereign 1.1% 8.13% GOI 2045 Sovereign 1.1% 8.2 GOI 2027 Sovereign 1.0% 8.09% SDL 2026 Sovereign 0.6% 1.3% Sector Allocation (As per NIC Classification*) TOTAL 20.2% 5% 5% 6% 3% 6% 11% Equity 250 (56%) 17% 20% 19% 14 (3%) Debt 187 (41%) GOVERNMENT OF INDIA FINANCIAL AND INSURANCE ACTIVITIES INFRASTRUCTURE SECTOR HOUSING SECTOR MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS MANUFACTURE OF TOBACCO PRODUCTS MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS CIVIL ENGINEERING CORPORATE BONDS RELIANCE GAS TRANSPORTATION INFRASTRUCTURE AAA 7.3% L I C HOUSING FINANCE LTD. AAA 4.5% G A I L (INDIA) LTD. AAA 4. HOUSING DEVELOPMENT FINANCE CORPN. LTD. AAA 1. RURAL ELECTRIFICATION CORPN. LTD. AAA 1.2% POWER GRID CORPN. OF INDIA LTD. AAA 1.2% HDB FINANCIAL SERVICES LIMITED AAA 1.1% TOTAL 21.2% TOP 10 EQUITY SECURITIES H D F C BANK LTD. 6.0% I T C LTD. 4.2% RELIANCE INDUSTRIES LTD. 3.7% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 3.2% I C I C I BANK LTD. 3.1% INFOSYS LTD. 2.8% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 LARSEN & TOUBRO LTD. 2.6% Credit Rating Profile MARUTI SUZUKI INDIA LTD. 1.8% STATE BANK OF INDIA 1.6% GRASIM INDUSTRIES LTD. 1.5% 25.2% TOTAL 55.5% Government Securities 49% AAA 51% CASH AND MONEY MARKET 3.1% PORTFOLIO TOTAL 100.0% Maturity by Profile < 1 Year 6% 1 to 3 years 18% 34 29 > 7 Years 52% 24 19 14 3 to 7 Years 2 9 Feb-05 Feb-07 Mar-09 Apr-11 Apr-13 May-15 May-17 Date of Inception: February 08,2005
20 Page Moderator (Closed Fund) SFIN No: ULIF00325/01/05MODERATORF117 Investment Objective: To earn regular income by investing in high quality fixed income securities and to generate capital appreciation by investing a limited portioninequity. Investment Philosophy: The fund will target 20% investments in Equities and 80% investments in Government & other debt securities to meet the stated objectives. Portfolio Return Last 1 Month Last 6 Months Last 1 Year Last 2 Years Last 3 Years Since Inception Funds managed by the Deb Bhattacharya Equity - 2 Debt - 0 Balanced - 3 Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 22 crore NAV as on 31-05-2017 Rs. 26.5935 Modified Duration (Debt and Money ) 4.5 Asset Classes F&U Actual Govt & Govt Guaranteed Secs 10-60% 37.7% Infrastructure and Social Sector Secs 0-60% 9.2% Listed Equities 10-30% 22.1% 10.0% 0.0% 21.0% Portfolio return 1. 2.1% 9.8% 7.1% 8.9% 8.3% Long Term Bonds 0-60% Benchmark* 1.8% 4.1% 12.3% 9.3% 10.5% 8.9% Short Term Bonds 0-35% Note: Past returns are not indicative of future performance. Money Investments 0-40% * Benchmark return has been computed by applying benchmark weightages on CRISIL Composite Bond Fund Index index for Debt and Nifty 50 index for Equity Portfolio Components Asset Under Management (AUM) (Rs crores) Equity 5 (22%) 5 (21%) Security Rating Net Assets GOVERNMENT SECURITIES 9.2% GOI 2030 Sovereign 26.5% 9.23% GOI 2043 Sovereign 11.1% 8.13% GOI 2021 Sovereign 0.1% TOTAL 37.7% Debt 12 (57%) CORPORATE BONDS G A I L (INDIA) LTD. AAA 9.2% HOUSING DEVELOPMENT FINANCE CORPN. LTD. AAA 5.3% HDB FINANCIAL SERVICES LIMITED AAA 4.7% TOTAL 19.3% Sector Allocation (As per NIC Classification*) 1% 2% 2% 2% 2% 2% 2 38% GOVERNMENT OF INDIA FINANCIAL AND INSURANCE ACTIVITIES INFRASTRUCTURE SECTOR HOUSING SECTOR MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS MANUFACTURE OF TOBACCO PRODUCTS TOP 10 EQUITY SECURITIES H D F C BANK LTD. 2.6% I T C LTD. 1.7% RELIANCE INDUSTRIES LTD. 1.5% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 1. INFOSYS LTD. 1.1% LARSEN & TOUBRO LTD. 1.1% I C I C I BANK LTD. 1.0% MARUTI SUZUKI INDIA LTD. 0.7% KOTAK MAHINDRA BANK LTD. 0.6% TATA MOTORS LTD. 0.6% 9.9% TOTAL 22.1% 5% 10% 12% MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS CIVIL ENGINEERING CASH AND MONEY MARKET 21.0% PORTFOLIO TOTAL 100.0% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile AAA 3 Government Securities 66% Maturity by Profile > 7 Years 50% 3 to 7 Years 7% < 1 Year 25% 1 to 3 years 18% 29 25 21 17 13 9 Feb-05 Feb-07 Mar-09 Apr-11 Apr-13 May-15 May-17 Date of Inception: February 08,2005
21 Page Protector (Closed Fund) SFIN No: ULIF00225/01/05PROTECTORF117 Investment Objective: To earn regular income by investing in high quality fixed income securities Investment Philosophy: The fund will target 100% investments in Government & other debt securities to meet the stated objectives Funds managed by the Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 174 crore NAV as on 31-05-2017 Rs. 23.9376 Modified Duration (Debt and Money ) 4.5 Portfolio Return Asset Classes F&U Actual Govt & Govt Guaranteed Secs 25-90% 36. Infrastructure and Social Sector Secs 0-60% 23.6% Last 1 Last 6 Last 1 Last 2 Last 3 Since Long Term Bonds 10-60% Month Months Year Years Years Inception Short Term Bonds 0-45% Portfolio return 1.2% -0.6% 9.3% 8. 9.1% 7.3% Money Investments 0-40% Benchmark* 1.3% 0.9% 10.9% 9.9% 10.7% 7.3% Note: Past returns are not indicative of future performance. Portfolio Components * Benchmark return has been computed by applying benchmark weightages on CRISIL Composite Bond Fund Index index for Debt Asset Under Management (AUM) (Rs crores) Debt 156 (90%) 18 (10%) 23.1% 6.5% 10. Security Rating Net Assets TOP 10 GOVERNMENT SECURITIES 8.13% GOI 2045 Sovereign 6. 6.79% GOI 2029 Sovereign 5.7% 9.23% GOI 2043 Sovereign 4.8% 8.83% GOI 2023 Sovereign 3.2% 7.61% GOI 2030 Sovereign 3.0% 8.22% SDL 2026 Sovereign 3.0% 8.17% GOI 2044 Sovereign 2.5% 8.38% SDL 2026 Sovereign 2. 6.97% GOI 2026 Sovereign 1.7% 8.33% GOI 2026 Sovereign 1.2% 2.3% TOTAL 36. Sector Allocation (As per NIC Classification*) 10% 7% 36% 10% 13% 2 GOVERNMENT OF INDIA INFRASTRUCTURE SECTOR FINANCIAL AND INSURANCE ACTIVITIES CIVIL ENGINEERING HOUSING SECTOR TOP 10 CORPORATE BONDS RELIANCE PORTS & TERMINALS LTD. AAA 9.5% LARSEN & TOUBRO LTD. AAA 9.5% TATA SONS LTD. AAA 9.3% HOUSING DEVELOPMENT FINANCE CORPN. LTD. AAA 4. RURAL ELECTRIFICATION CORPN. LTD. AAA 3.1% POWER FINANCE CORPN. LTD. AAA 3.0% AXIS BANK LTD. AAA 2.9% RELIANCE GAS TRANSPORTATION INFRASTRUCTURE AAA 2.9% L I C HOUSING FINANCE LTD. AAA 2.7% INFRASTRUCTURE LEASING & FINANCIAL SERVICES AAA 1.9% 4.1% TOTAL 53.3% CASH AND MONEY MARKET 10. PORTFOLIO TOTAL 100.0% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile AA+ 1% Government Securities 40% AAA 59% Maturity by Profile > 7 Years 40% < 1 Year 1 3 to 7 Years 3 1 to 3 years 12% 25 23 21 19 17 15 13 11 9 Feb-05 Feb-07 Mar-09 Apr-11 Apr-13 May-15 May-17 Date of Inception: February 04,2005
22 Page Preserver (Closed Fund) SFIN No: ULIF00125/01/05PRESERVERF117 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. Investment Philosophy: The fund will target 100% investments in Government & Govt. Guaranteed Securities to meet the stated objectives Funds managed by the Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 AUM as on 31-05-2017 Rs. 75 crore NAV as on 31-05-2017 Rs. 21.9559 Modified Duration (Debt and Money ) 5.7 Portfolio Return Asset Classes F&U Actual Govt & Govt Guaranteed Secs 80-100% 88.9% Money Investments 0-40% 11.1% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 1. -2. 9.5% 8.1% 9.1% 6.6% Benchmark* 1.1% 0.8% 9.8% 9.9% 10.6% 8.0% Security Rating Net Assets Note: Past returns are not indicative of future performance. * Benchmark return has been computed by applying benchmark weightages on ISEC Mibex index for TOP 10 GOVERNMENT SECURITIES 8.27% GOI 2020 Sovereign 26.5% Government & Govt. Guaranteed Securities 7.73% GOI 2034 Sovereign 8.3% Asset Under Management (AUM) (Rs crores) 8.17% GOI 2044 Sovereign 7.2% 8 (11%) 7.68% GOI 2023 Sovereign 6.9% 8.22% SDL 2026 Sovereign 6.9% 9.23% GOI 2043 Sovereign 6. 6.79% GOI 2029 Sovereign 6.0% 7.59% GOI 2026 Sovereign 5.6% 9.2% GOI 2030 Sovereign 5. 7.88% GOI 2030 Sovereign 3.5% 6.1% TOTAL 88.9% Debt 67 (89%) CASH AND MONEY MARKET 11.1% PORTFOLIO TOTAL 100.0% Sector Allocation (As per NIC Classification*) 11% GOVERNMENT OF INDIA 89% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile Government Securities 100% Maturity by Profile < 1 Year 9% 25 23 21 > 7 Years 56% 3 to 7 Years 35% 19 17 15 13 11 9 Feb-05 Feb-07 Mar-09 Apr-11 Apr-13 May-15 May-17 Date of Inception: February 10,2005
23 Page Discontinued Policy Fund SFIN No: ULIF01721/12/10DISCONTINU117 Investment Objective: To generate income at a level consistent with the preservation of capital, along with a minimum interest of per annum. Investment Philosophy: The fund will target 100% investments in Government & other debt securities to meet the stated objectives. AUM as on 31-05-2017 NAV as on 31-05-2017 Funds managed by the Himanshu Shethia Equity - 0 Debt - 7 Balanced - 5 Rs. 624 crore Rs. 15.8452 Modified Duration (Debt and Money ) 0.4 Portfolio Return Asset Classes F&U Actual Government Securities 0-25% 0.0% Money Instruments 0-100% 100.0% Last 1 Last 6 Last 1 Last 2 Last 3 Since Month Months Year Years Years Inception Portfolio Components Portfolio return 0.5% 2.9% 6.2% 6.6% 7.1% 7. Security Net Assets Note: Past returns are not indicative of future performance. CASH AND MONEY MARKET 100.0% PORTFOLIO TOTAL 100.0% Asset Under Management (AUM) (Rs crores) 624 (100%) Sector Allocation (As per NIC Classification*) GOVERNMENT OF INDIA 96% *NIC Classification Industrial sectors as defined under National Industrial Classification 2008 Credit Rating Profile Government Securities 100% Maturity by Profile < 1 Year 100% 17 16 15 14 13 12 11 10 9 Dec-10 Jan-12 Feb-13 Mar-14 Apr-15 Apr-16 May-17 Date of Inception: December 21,2010
Glossary Quantitative Indicators Standard Deviation (SD) - It shows how much the variation or dispersion of a fund s daily returns has from its average. Lesser SD indicates that the daily returns are moving closer to the average. A higher SD indicates that daily returns are widely spread over a large range of value. Beta It indicates how the fund is performing relative to its benchmark. If beta of a fund is higher than its benchmark, which is considered 1, it indicates risk-return trade-off is better and vice-versa. Sharpe Ratio It measures the risk-reward ratio as it indicates whether higher returns come with higher or lower risk. Greater the ratio, better is the risk-adjusted performance. Average Maturity It is the weighted average period of all the maturities of debt securities in the portfolio. Modified Duration (MD) It is the measurable change in the value of a security in response to a change in interest rates. Bond yield Bond yield is the amount of return an investor realizes on a bond. Several types of bond yields exist, including nominal yield (interest paid divided by the face value of the bond) and current yield (annual earnings of the bond divided by its current market price). Yield to maturity (YTM), a popular measure where in addition to coupon return it also additionally incorporates price decline/increase to face value of the bond over the maturity period. Macroeconomic Indicators Macroeconomics - Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation. Macroeconomics analyzes all aggregate indicators that influence the economy. Government and corporations use macroeconomic models to help in formulating of economic policies and strategies. Gross Domestic Product (GDP) - GDP is one of the primary indicators used to gauge the health of a country's economy. It represents the total value of all goods and services produced over a specific time period. It can be stated in real terms or nominal terms (which includes inflation). Gross value added (GVA) - GVA is a productivity metric that measures the contribution to an economy, producer, sector or region. Gross value added provides a value for the amount of goods and services that have been produced, less the cost of all inputs and raw materials that are directly attributable to that production. Index of Industrial Production (IIP) The index represents the production growth of various sectors in India. The index focuses on mining, electricity and manufacturing. The ongoing base year for calculation of index is 2004-2005. HSBC Purchasers Managers Index (PMI) - Three types of indices Manufacturing, Services and Composite Index are published on a monthly basis after surveys of private sector companies. An index reading above 50 indicates an overall increase in that variable, while below 50 shows an overall decrease. Inflation Inflation measures the change in the prices of a basket of goods and services in a year. From a calculation standpoint, it is the percentage change in the value of the Wholesale Price Index (WPI) / Consumer Price Index (CPI) on a year-on-year basis. It occurs due to an imbalance between demand and supply, changes in production and distribution cost or increase in taxes on products. When economy experiences inflation, i.e. when the price level of goods and services rises, the value of currency reduces. 24 Page Back
Glossary Macroeconomic Indicators Nominal interest rate - Nominal interest rate is the interest rate that does not take inflation impact into account. It is the interest rate that is quoted on bonds and loans. Real interest rate - Real interest rate adjusts for the inflation and gives the real rate of a bond or a loan. Monetary Policy Monetary policy is the macroeconomic policy laid down by the Central bank. It involves management of money supply and interest rates to achieve macroeconomic objectives like inflation, consumption, growth and liquidity. Depending on growth-inflation dynamics, the central bank can either pursue an easy or a tight monetary policy. An expansionary/easy/ accommodative monetary policy involves expansion of money supply, mainly by keeping interest rates low, to boost economic growth. A contractionary/tight monetary policy involves reduction in money supply to control inflation in the economy. Liquidity - The Central bank of a country has to maintain an appropriate level of liquidity to help meet the credit demand of the country as well as maintain price stability. This is done by way of direct monetary policy tools such as policy rates and cash reserves to be maintained with it by banks. It is also done by indirect means such as Open market Operations (OMO) which involve sale and purchase of Government securities. Fiscal Deficit This takes place when India's expenditure rises than its revenue. To fill this gap, the Government raises debt by issuing Government/ sovereign bonds. Fiscal deficit is usually compared with GDP to understand the financial position of the country. Rising fiscal deficit to GDP ratio is not good for the country, which requires immediate attention to cut expenditure and/or increase the source of revenue. Current Account Deficit (CAD) - Current account deficit is a measurement of a country s trade where the value of imports of goods and services as well as net investment income or transfer from abroad is greater than the value of exports of goods and services for a country. This indicates that the country is a net debtor of foreign currency, which increases the pressure on the country's existing foreign currency reserves. Current account surplus is the opposite of this. Investment - In private investment, the funds come from a private, for-profit business. A few examples of private investment are a private company s manufacturing plant, a commercial office building, or a shopping mall. In public investment, the money exchanged comes from a governmental entity such as a city, state, country, etc. It would involve roads, airports, dams and other public infrastructure. Indices Nifty 50 Index It is a well diversified 50 stock index accounting for 22 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds. CRISIL Composite Bond Fund Index - It seeks to track the performance of a debt portfolio that includes government securities and AAA/AA rated corporate bonds. Fixed Income Indicators Repo Rate - The rate at which the RBI lends money to commercial banks is called repo rate. It is an instrument of monetary policy. Whenever shortage of funds banks has, they can borrow from the RBI. Cash Reserve Ratio (CRR) - CRR is the amount of funds which the banks need to keep with the RBI. If the RBI decidestoincreasethecrr,theavailableamountwiththebankscomesdown.therbiusesthecrrtodrainout excessive money from the system. 25 Page Back