Fund Fact Sheet - indiafirstlife.com

Disclaimer: Past performance may or may not be sustained in future and is not a guarantee of future performance. Some of the contents of this document may contain statements / estimates / expectations / predictions, which may be 'forward looking'. The actual outcomes could differ materially from those expressed /implied in this document. These statements, do not intend to provide personal recommendation to any specific individual or any investment needs of an individual. The recommendations / statements / estimates / expectations / predictions are of general in nature and may not take into account the specific investment needs or risk appetite or financial situations of individual clients. Therefore, before acting on any advice or recommendations contained in this document, readers, in their own interest, should consider seeking advice from any authorized and professional investment advisors or financial consultants.’

Fund Fact SheetUnit Linked Insurance Plans – Individual policyholders November 2021

Particulars Current level

3M 6M 1 Year

Generic 1st 'CO' Future 70.57 -3.87% 1.35% 46.47%Gold Spot $/Oz 1774.52 -1.98% -6.79% -0.74%Indian Rupee Spot 75.17 2.58% 3.77% 1.51%MSCI EM 1212.42 -5.68% -10.90% -1.49%MSCI WORLD 3101.80 -1.42% 4.11% 19.23%Nifty 50 16983.20 0.31% 10.03% 30.95%

Sensex @ 57065 FY21 FY22E FY23E

EPS 1683 2480 2710PE 33.9 23 21.1Source: Select Brokerage Estimates.

Particulars

3M 6M 1 Year

India 10-year bond yield 6.33 10 32 41

AAA - 10 year Spread 0.62 (11) (26 2

4.88 (3) 45 (19)

Particulars

CPI (percent)

IIP (percent)

Current level Previous level

Price Change

Spread (India 10 year - US 10 year)

Present Level (%)

Basis Point Change

Manufacturing PMI 57.60 55.90

GST Collections (Rs Lac Cr) 1.30 1.30

4.48 4.35

11.80 3.10

MarketFirst Monthly ReportNovember 2021

Key pointers which impacted the markets during the month:

India’s Real GDP growth came at 8.4 percent YoY in Q2FY22.

Central government reduced excise duty on petrol and diesel by Rs 5/liter and Rs 10 /liter respectively.

New variant of COVID-19, named Omicron, was designated by WHOas a variant of concern.

US President signed into law a $ 1.2 trillion infrastructure bill to fund theupgrade of US roads, railways and other transportation infrastructure,among other things.

Major economies viz., the US, China, India, Japan, South Korea andUK decided to release their strategic crude reserves in order toincrease oil supply and cool down prices.

Movement in key variables: Commodities fell as crude oil prices oilprices took a significant knock partly influenced by concerns over theemergence of the Omicron variant of the COVID-19. US Treasuryyields also softened. High retail gasoline prices prompted the major oilconsuming nations led by the US and including China, India, SouthKorea, Japan and the UK to release crude oil from their StrategicPetroleum Reserve (SPR) as part of co-ordinated effort to reduce fuelprices.

Trends in key market variables:

Market Overview:

Performance of Sectoral indices

Global Market Update

Major equity indices in the emerging and developed world ended down onthe back of evolving concerns due to the new Omicron variant of COVID-19,designated by WHO as a variant of concern. Although It is not yet clear as towhether Omicron is more transmissible and severe compared to the othervariants, including the Delta variant, the number of people testing positiveand getting hospitalized has risen in parts of South Africa. Sharp rise inCOVID-19 hospitalisations in parts of the EU region led to imposition ofvarying degrees of restrictions ranging from work from home, requirement ofmasks on public transport and shops and establishments to full lockdown insome economies.

Central bank and macro data releases: According to US FOMC minutes,several members of the US Fed were ready to raise rates, sooner thananticipated, should inflation continue to remain at elevated levels. US Fed isexpected to reduce the quantum of its monthly bond purchases to zeroeventually by the end-June 2022. Several Fed members have also spokenabout upping the pace of tapering. US CPI jumped further to its highestreading in more than 30 years. In EU region, flash PMI rebounded whereasinflation rose, weighing down sentiments. Reserve Bank of New Zealand(RBNZ) raised its key interest rate by 25 bps, it’s second consecutive hike inorder to tame inflation. Bank of Korea (BoK) also raised interest rates by 25bps for the second time this year to tackle rising inflation.

November saw a decline in Indian equity market indices amid risingconcerns over the new COVID-19 variant Omicron and selling by FPI’swhich offset supportive domestic macro-economic data. Indian fixedincome markets witnessed softening of yields across the curve due tomoderation in crude prices and softening in the US treasury yields.

Equity Market Valuation:

Market Outlook:

Equity Market Outlook:

At current levels of 57065, SENSEX is trading at 33.9x trailing 12-month earnings of INR 1683.

Global central banks and governments had launched co-ordinatedpolicy efforts in the aftermath of COVID-19 outbreak to cushion theirrespective economies from the economic fallout of COVID-19. Thesemeasures had included fiscal stimulus, lower interest rates andabundant liquidity which helped in economic recovery and contributedto market recovery.

Rising hospitalisations in some geographies points towards resurgenceof COVID-19 which alongside the potential economic impact of theOmicron variant would be eyed. Central banks of many economies viz.,New Zealand, South Korea, South Africa, Russia, Brazil etc have eitherhiked interest rates or have embarked on unwinding theiraccommodative monetary policies (US Fed) or are on the path of doingso (ECB) to tame rising inflation. Bank of Japan (BoJ), however,doesn’t look like normalizing policy anytime soon, given tepid inflationin Japan vis-à-vis other countries.

Debt Market Data Points:

Macro Economic Data:

Domestic Market Update:

Economy: Centre announced a cut in excise duty on both petrol anddiesel which led to several state governments following suit andreducing VAT. This would help reducing headline CPI. Notwithstandingthe gross revenue loss to the Centre on account of the reduction inexcise duty revenues, strong direct and indirect tax collection trendswould help limit the impact on fiscal deficit. Union Cabinet alsoapproved extension of distribution of free food grains under thePradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for another fourmonths (from Dec’ 21-Mar’22).

COVID-19 and vaccination update: India’s national active caseloaddeclined further to ~100,000 with recovery rate coming at 98.4 percent.Country’s cumulative COVID-19 vaccine administered doses stood atapprox. 125 Crore with the percentage of eligible adult population thathave received at least the first dose stood at 84 percent, whereasaround 49 percent are fully vaccinated now.

Macro data releases: Macro and industrial data remained stable assupply-side challenges seem getting resolved notwithstanding theemergence of Omicron variant. GST collections matched previousmonths collections aided by the festive season. Q2FY22 GDP numberssaw the country’s GDP crossing the pre-COVID absolute GDP mark ofapprox. Rs. 204 Lac Cr (up 7.2% from the pre-COVID levels) andstood at approx. Rs. 218 Lac Cr based on trailing four quarters. Retailinflation rose marginally. Industrial activity inched upwards. PMIrecorded robust growth. Gross tax collections registered 17 percentYoY (vs. 50 percent in the previous month) as advance corporate taxand income tax collections subsided.

Institutional activity: FPI’s were net sellers of equities (cash market)worth INR 5710 Cr (USD 756 Mn) and buyers of debt worth INR 1151Cr (USD 153 Mn). DIIs were buyers of equities worth INR 30560 Cr(USD 4046 Mn). INR depreciated against the dollar during the monthon account of a stronger dollar.

Disclaimer

Some of the contents of this document may contain statements/ estimates/ expectations/ predictions, which may be 'forward looking'. The actual outcomes coulddiffer materially from those expressed / implied in this document. These statements, do not intend to provide personal recommendation to any specific individual orany investment needs of an individual. The recommendations/ statements/ estimates/ expectations / predictions are of general in nature and may not take intoaccount the specific investment needs or risk appetite or financial situations of individual clients. Therefore, before acting on any advice or recommendationscontained in this document, readers, in their own interest, should consider seeking advice from any authorized and professional investment advisors or financialconsultants.' The above data has been generated from sources in public domain. IndiaFirst Life Insurance Company Limited. IRDAI Reg. No. 143. Address:12th/13th Floor, North [C] Wing, Tower 4, NESCO IT Park, Nesco Center Western Express Highway, Goregaon (East), Mumbai - 400 063. CIN:U66010MH2008PLC183679

Domestically, the RBI would also be pausing its bond purchasesthrough OMO’s and withdraw liquidity from the system. However,considering favourable household positioning and pent-up demandalong with strong corporate balance sheets, corporate tax reductionand rise in investment intentions could help kickstart the corporatecapex cycle. Government announced PLI schemes, asset monetisationplan and infrastructure thrust could aid in economic growth revival.

Sectors such as Cap goods, Infra, Real Estate and Utilities, PSU’s,Metals and commodities, Auto, Cement etc. are emerging as marketleaders as they are seeing a favourable tilt in investor sentiment asanticipated earlier as sector and style rotation plays out. Value -oriented stocks are registering outperformance.

In the near term, impact of the new virus strain, global central bankmonetary policy stance, commodity price trajectory, COVID-19 vaccinecoverage and trajectory of reopening of economies would remain infocus.

Previous quarter corporate earnings season witnessed top-line andearnings recovery. Although higher input prices as well as operatingcosts dented margins. Conducive demand environment due to gradualopening of the economy on account of receding COVID-19 secondwave impact and the festival season supported revival in earnings.Market volatility could remain elevated in the short-term as globaluncertainties rise and market corrections can provide opportunities toaccumulate quality stocks. Equity as an asset class has proven itsability to deliver superior returns in the long term.

The central government's finances continue to benefit from buoyant taxrealisations. Fiscal deficit was contained at 36.3% of budget estimate,even while expenditure picked up. India’s GDP grew by 8.4% YoY inQ2FY22 and GVA growth rose by 8.5% in Q2 FY22.

The Brent Crude oil price softened to $70.57 per barrel during themonth from $84.38 per barrel at the start of the month. Oil pricesslumped amid worries about the efficacy of the current vaccines to copewith the new Covid variant, raising fears of prolonged travel curbs andanother hit to the fuel demand.

The Indian Rupee depreciated against the dollar during the month, fromthe start of the month levels of Rs. 74.88 to close at the levels ofRs.75.17 on account of a stronger dollar and emergence of a newCovid variant Omicron.

Considering all the factors discussed above, we expect short termyields to increase in the near term and the longterm yields to remainrange bound on account of healthy revenue collections. RBI’s liquidityoperations, Inflation and moderation in the asset purchase program byFOMC, might impact the domestic markets in the near term. Keeping aclose watch on the above factors, we will continue to remain invested inthe medium- term segment of the yield curve.

Debt Market Outlook:

The 10- Year G-sec yields softened during the month from 6.39% at thestart of the month to 6.33 % at the end of the month. Bond yield easedacross the curve as crude oil traded below 75$ and softening in the UStreasury yields due to the emergence of the new Covid variant Omicron.A new infectious strain of coronavirus may hurt the nascent globaleconomy recovery.

The U.S. 10 Year Yield softened from 1.55% at the start of the month to1.44% at the close of the month. US treasury debt yields fell asinvestors rushed towards safe-haven assets following the emergence ofa new covid variant Omicron.

The CPI inflation has begun to show the signs of reversal with upsiderisks setting from food prices and commodity prices and input costsbeginning to trickle its way. CPI inflation for Oct 21 printed 4.48% ascompared to 4.35% in Sept 21.

The GST collections for Nov 21 rose to Rs. 1.31 Lakh crs., secondhighest since implementation of the GST regime. The recent trend ofhigh GST revenues has been a result of various policy andadministrative measures that have been taken in the past to improvecompliance.

Fund Manager's Comments on Debt Portfolio

Fund Manager's Comments on Equity Portfolio

Fund Manager’s CommentsNovember 2021

10yr benchmark yields ended the month at 6.33% against the previous month close of 6.39%. During the month, it broadly remained range bound around 6.35-6.36% levels. However, towards the end of the month it softened a bit over concerns of the new Covid variant (Omicron).

The Federal reserve conducted its FOMC on 2nd & 3rd November 2021 and kept the rates and stance unchanged. However, it announced a reduction in its monthly purchase of bonds by $15bn each month. 10yr US Treasury remained range bound. It ended the month at 1.45%, 1bps lower than the start of the month.

As expected, RBI continued to sterilize excess liquidity through 7,15 and 28-Day Variable Reverse Repo auctions. This has led to hardening in the shorter end of the curve.

CPI for the month of Oct ’21 stood at 4.48% as against 4.35%% in the previous month. The core CPI inched up to 6.1% as against 5.9% in the previous month. The headline remained soft on account of favourable base effect and benign food prices. Inflation however may start to print higher post November reading as the base effect comes off.

The Central Government’s fiscal position continues to better than expected on the back of favourable tax revenues. Revenue continues to outpace expenditure in the first half of the year. Fiscal Deficit for the period stood 36.3% (Rs 5.50 Lac cr) of the budgeted fiscal deficit. GST collection for the month November stood at Rs 1.31 Lac cr , growing 25% on a Y-o-Y basis due to pickup in economic activities and increased surveillance.

Crude oil prices ended the month at $70.57 declining from $84.38 at the start of the month. Crude prices remained above $80 for most of the month before declining due to concerns over the new variant of the Covid-19 virus.

Indian rupee depreciated in the month of November on account of a stronger dollar which was mainly due to worries around a new Covid stain and foreign fund outflows dampened investor sentiments. It ended the month at 75.17 depreciating from 74.88 at the beginning of the month.

Considering all the factors discussed above, we expect short term yields to increase in the near term and the longterm yields to remain range bound on account of healthy revenue collections. RBI’s liquidity operations, Inflation and moderation in the asset purchase program by FOMC, might impact the domestic markets in the near term. Keeping a close watch on the above factors, we will continue to remain invested in the medium- term segment of the yield curve.

Key Indices (Nifty and Sensex) end November on a weak note: The month of November 2021, Indian markets ended on a weak note amidconcerns over a new coronavirus variant (‘Omicron’). The BSE-30 and Nifty-50 fell nearly 4% each, their biggest monthly loss since March 2020.Some of the key developments during the month were – reduction in excise duty on petrol & diesel by Rs 5 / Rs 10 per liter, Indian telecomoperators announced tariff hikes, reliance industries called off its deal with Saudi Armco, US Fed in its 2 day monetary policy meeting indicated thatit would soon begin reducing the pace of its monthly bond purchases, US senate passed more than USD 1tn infra bill and the US together withChina, India, Japan, South Korea and UK decided to increase oil supply by releasing their strategic reserves to cool down rising crude prices whichrose 17% in a month due to the limited supply from OPEC countries. On the Macro Economic Front, September IIP grew 3.1% compared to 12% inAugust. October CPI increases to 4.48% compared to 4.35% in September on the back of higher food prices even as core inflation remained stickyand elevated. October WPI inflation came in at 12.5%, increasing from 10.7% in September. GDP growth in Q2FY22 came in at 8.4% YoY (aheadof expectations) compared to 20.1% YoY in Q1FY22 and contraction of 7.4% in Q2FY21. FPIs sold USD 3.8 bn of Indian equities in the secondarymarket while DIIs bought USD 4.1bn during the month.

Global markets sell off: On global front, amidst dual concerns of inflation/monetary policy and uncertainty about the transmissibility and virulenceof the Omicron variant, equity markets sold off during the end of the month. Having started the month well, developed market equities ended themonth down 2.2%. Government bonds rallied. For markets, November was dominated by rising Covid hospitalisations in parts of Europe andconcerns about the new Omicron variant. So far, it is unclear whether the mutations in the Omicron variant will significantly reduce the effectivenessof existing vaccines.

Key Monitorable: Equity markets are likely to take cues from the upcoming MPC meeting, quantum of US bond purchases and effectiveness ofexisting vaccines in curtailing the hospitalisations of the Omicron variant. Despite the correction, market valuations continue to remain elevated.Considering the above factors, we would approach the markets with a stock-specific view and stick to companies which have better growthprospects and stronger balance sheets. In light of the changing dynamics, we would continue to maintain higher weightage towards Large Capsfavouring Sectors such as BFSI, FMCG, Auto, IT, Pharma.

Funds Name & Benchmark 1 year 3 years 5 years Since Inception

Equity Fund 35.53 16.53 13.52 10.35Benchmark (90% Nifty 50 Index & 10% Nifty 1 day Rate Index ) 28.18 14.82 14.53 10.09Nifty 50 Index 30.95 16.00 15.60 10.51

Equity1 Fund 35.25 16.29 14.54 10.40Benchmark (90% Nifty 50 Index & 10% Nifty 1 day Rate Index) 28.18 14.82 14.53 9.60Nifty 50 Index 30.95 16.00 15.60 9.95

Equity Pension Fund 28.84 15.24 13.75 10.68Benchmark (90% Nifty 50 Index & 10% Nifty 1 day Rate Index) 28.18 14.82 14.53 10.09Nifty 50 Index 30.95 16.00 15.60 10.51

Equity Elite Opportunities 33.09 15.96 13.41 12.59Benchmark (60% Nifty 50 Index & 40% Nifty 1 day Rate Index) 19.88 11.29 11.34 10.54Nifty 50 Index 30.95 16.00 15.60 14.25

Index Tracker Fund 30.54 15.82 15.17 9.65Benchmark (95% Nifty 50 Index & 5% Nifty 1 day Rate Index) 29.57 15.41 15.06 9.59Nifty 50 Index 30.95 16.00 15.60 9.75

Value Fund 38.85 16.70 13.81 11.1529.76 14.74 14.30 9.57

S&P BSE 100 Index 32.71 15.90 15.34 9.92

Dynamic Asset Allocation Fund 9.63 7.55 6.77 10.04

20.24 12.90 12.02 10.76

Balanced Fund 24.38 13.89 11.24 9.10

20.24 12.90 12.02 9.36

Balanced 1 Fund 23.50 12.67 10.64 8.75

20.24 12.90 12.02 9.17

Balanced Pension Fund 20.68 13.64 11.82 9.52

20.24 12.90 12.02 9.36

Debt Fund 1.39 5.54 4.54 6.79

4.29 8.79 6.89 7.83

Debt1 Fund 1.78 5.93 3.53 6.46

4.29 8.79 6.89 8.06

Debt Fund Pension 1.15 5.52 4.55 6.66

4.29 8.79 6.89 7.83

Liquid Fund 1.71 2.65 3.35 4.61Benchmark (100% Nifty 1 day Rate Index) 3.27 4.23 4.95 6.15

Liquid Pension Fund 1.69 2.53 3.17 4.86Benchmark (100% Nifty 1 day Rate Index) 3.27 4.23 4.95 6.28

Benchmark (60% Nifty 50 Index, 10% Nifty 1 day Rate Index & 30% NIFTY Composite Debt Index)

Returns in %

Benchmark (90% S&P BSE 100 Index & 10% Nifty 1 day Rate Index)




Benchmark (85% NIFTY Composite Debt Index & 15% Nifty 1 day Rate Index)



Summary of performance of Funds vs. Benchmark (As on November 30, 2021)

Unit Linked Insurance Plans - Individual policyholders

Note:1. The above summary is based on the data as on November 30, 20212. Equity Fund - Returns less than year are Absolute & Returns over one year are CAGR (Compound Annual Growth Rate)3. Debt Fund - Returns less than year are simple annualised & Returns over one year are CAGR (Compound Annual Growth Rate)4. Past performance may or may not be sustained in future and is not a guarantee of future performance

Name of the Fund Name of the Fund

Asset Allocation Equity Debt Money market Asset Allocation Equity Debt Money market

Minimum 80 0 0 Minimum 50 30 0

Maximum 100 0 20 Maximum 70 50 20

Fund Manager Viraj Nadkarni- Fund Manager Debt - Sandeep Shirsat - B.Com, ICWA

M.Com, C.S. ( Company Secretary), MBA ( Finance) Equity - Viraj Nadkarni

Date of Launch November 25, 2009 M.Com, C.S. ( Company Secretary), MBA ( Finance)

Net Asset Value Declared every business day

Fund's Fact Sheet Published monthly Date of Launch November 9, 2011

Net Asset Value Declared every business day

Fund's Fact Sheet Published monthly

Name of the FundNature of the Fund

Name of the Fund

Asset Allocation Equity Debt Money market

Minimum 0 70 0 Asset Allocation Equity Debt Money marketMaximum 0 100 30 Minimum 0 0 80

Maximum 0 20 100

Fund Manager Sandeep Shirsat- B.Com, ICWA

Date of Launch November 25, 2009 Fund Manager Sandeep Shirsat- B.Com, ICWA

Net Asset Value Declared every business day Date of Launch November 25, 2009Fund's Fact Sheet Published monthly Net Asset Value Declared every business day

Fund's Fact Sheet Published monthlyBenchmark 100% Nifty 1 day Rate Index

Benchmark Benchmark Composition (85% NIFTY Composite Debt Index & 15% Nifty 1 day Rate Index)

To provide capital protection with growth at short-term interestrates while providing a high level of liquidity.

Fund Positioning

This fund is positioned as a pure debt oriented fund, with assetallocation pattern providing a good opportunity to provideconsistent and sustainable returns. The debt portfolio willcomprise of high rated debt instruments with a low to moderateliquidity, government securities and money market investmentswith very high safety and easy liquidity. The asset allocationbetween corporate debt and government securities/money marketinvestments and the portfolio duration of the fund, will follow amacro level economic scenario while the individual corporate debtinvestments will follow with a micro level credit worthiness anddebt servicing capacity of companies.

Fund Positioning

This Fund is positioned as a pure debt oriented short term liquidfund with the asset allocation pattern giving a reasonableopportunity to provide consistent and sustainable returns, withvery high liquidity. The investment portfolio will primarily compriseof high rated short term money market investments with very highsafety and easy liquidity. The maturity profile and the portfolioduration will follow a macro level economic scenario and theexpected liquidity needs of the fund.

Chief Investment Officer Dr. Poonam Tandon, B.Com ( Hons.), PGDBM( XLRI, Jamshedpur) , CAIIB , Ph.D ( Financial Management) Chief Investment

OfficerDr. Poonam Tandon, B.Com ( Hons.), PGDBM( XLRI, Jamshedpur) , CAIIB , Ph.D ( Financial Management)

Benchmark Benchmark Composition (60% Nifty 50 Index, 10% Nifty 1 day Rate Index & 30% NIFTY Composite Debt Index)Debt Fund/Debt Pension Fund/Debt1 Fund

Primarily invested in debt instruments

Investment Objective

To generate a good level of income and prospects for capitalgrowth through diversified investment in corporate debtinstruments, government securities and money marketinvestments.

Liquid Pension Fund

Nature of the Fund Investment in liquid and money market instruments


Chief Investment Officer Dr. Poonam Tandon, B.Com ( Hons.), PGDBM( XLRI, Jamshedpur) , CAIIB , Ph.D ( Financial Management)

Chief Investment Officer

Dr. Poonam Tandon, B.Com ( Hons.), PGDBM( XLRI, Jamshedpur) , CAIIB , Ph.D ( Financial Management)

Benchmark Benchmark Composition (90% Nifty 50 Index & 10% Nifty 1 day Rate Index)

Investment ObjectiveTo provide high growth opportunities with an objective of longterm capital appreciation through investments primarily in equityand equity related instruments.

Investment ObjectiveTo provide higher growth with reasonable security, by investingprimarily in equity instruments and moderate allocation in debtsecurities/ bonds.

Fund Positioning

This Fund is positioned as a diversified equity fund with amoderate exposure to mid-cap stocks. The aim of the Fund is toprovide a stable and sustainable relative out performance vis-à-vis the benchmark. The Fund will stick to the theme of discipline,diligence and dividend yield while selecting equity stocks. TheFund will have an exposure of upto 30 percent to mid-capcompanies. The remaining exposure will continue to be in large-cap companies.

Fund Positioning

This fund is positioned as a balanced mix of debt and equity, withthe asset allocation pattern providing a good opportunity toprovide consistent and sustainable returns. The equity portion willhave a highly diversified portfolio with high liquidity while the debtportion will comprise of high rated debt instruments with low tomoderate liquidity. The asset allocation will follow a macro levelmarket scenario and the individual stock selection will be withmicro level performance expectations of the stocks and securities.

Equity Fund/Equity Pension Fund/Equity1 Fund Balanced Fund/Balanced Pension Fund/Balance1 Fund

Nature of the Fund Equity Growth Fund - Primarily invested in equity Nature of the Fund Balanced Fund with exposure to equity and debt investments

Funds at a Glance


Asset Allocation Equity Debt Money market Asset Allocation Equity Debt Money market

Minimum 70 0 0 Minimum 0 0 0

Maximum 100 0 30 Maximum 80 80 40

Fund Manager Viraj Nadkarni Fund Manager Viraj Nadkarni

M.Com, C.S. (Company Secretary), MBA (Finance) M.Com, C.S. (Company Secretary), MBA (Finance)

Date of Launch September 16, 2010 Date of Launch September 09, 2011

Net Asset Value Declared every business day Net Asset Value Declared every business day

Fund's Fact Sheet Published monthly Fund's Fact Sheet Published monthly


Asset Allocation Equity Debt Money market

Minimum 90 0 0

Maximum 100 0 10 Asset Allocation Equity Debt Money market

Minimum 60 0 0

Maximum 100 0 40

Fund Manager

Date of Launch Fund Manager Viraj Nadkarni-

Net Asset Value M.Com, C.S. ( Company Secretary), MBA ( Finance)

Fund's Fact Sheet Date of Launch October 27, 2016

Net Asset Value Declared every business dayFund's Fact Sheet Published monthly

Value Fund Dynamic Asset Allocation Fund

Nature of the Fund Growth Fund Nature of the Fund Equity Fund- proportion varies with P/E model

Investment ObjectiveTo provide high growth opportunities with an objective of longterm capital appreciation through investments primarily in equityand equity related instruments.

Investment ObjectiveTo provide long-term capital appreciation with relatively lowervolatility by dynamically adjusting the capital allocation betweenequity and fixed income instruments.

Fund Positioning

This fund will be positioned as a multi-cap pure value fund withclearly defined investment criteria for investing in value stocks.The fund will invest in stocks that are relatively undervalued totheir intrinsic value and will create wealth for investors in themedium to long term.

Fund Positioning

This Fund would be positioned as a dynamic equity fund aiming toprovide a stable and sustainable relative out performance vis-àvisthe benchmark. The asset allocation between equity and fixedincome instruments will be based on the PE level of the index(Sensex).


Chief Investment Officer

Dr. Poonam Tandon, B.Com ( Hons.), PGDBM( XLRI, Jamshedpur) , CAIIB , Ph.D ( Financial Management)

Benchmark Benchmark Composition (90% S&P BSE 100 Index & 10% Nifty 1 day Rate Index) Benchmark Benchmark Composition (60% Nifty 50 Index, 10% Nifty 1 day

Rate Index & 30% NIFTY Composite Debt Index)

Index Tracker Fund Equity Elite Opportunities Fund

Nature of the Fund Equity Index Fund Nature of the Fund Equity Growth Fund - Primarily invested in equity

Investment ObjectiveThe principal investment objective of the scheme is to invest instocks of companies comprising large cap Index stocks andendeavour to achieve return equivalent to large cap index.


To provide growth opportunities with an objective of long termcapital appreciation through investments primarily in equity andequity related instruments and an active management of assetallocation between Equity and Money Market instruments.

Fund Positioning

Major portion of this Fund will be invested only in large cap indexequity stocks. The exposure / weightages of investment stockswill, however be subject to regulatory investment guidelines andexposure norms. Fund Positioning

This Fund is positioned as a diversified equity fund aiming toprovide a stable and sustainable relative out performance vis-à-vis the benchmark. The fund would stick to the theme ofdiscipline, diligence and dividend yield while selecting the equitystocks. It would invest at least 70 % of its exposure to equity in thelarge cap stocks (from CNX Nifty Index or BSE 100 Index ) andthe remaining could be in mid / small cap equity stocks.


Viraj Nadkarni- Chief Investment Officer

Dr. Poonam Tandon, B.Com ( Hons.), PGDBM( XLRI, Jamshedpur) , CAIIB , Ph.D ( Financial Management)M.Com, C.S. ( Company Secretary), MBA ( Finance)

September 22, 2010

Declared every business day

Published monthly

Benchmark Benchmark Composition (95% Nifty 50 Index & 5% Nifty 1 day Rate Index)

Benchmark Compostion (60% Nifty 50 Index & 40% Nifty 1 Day Index)Benchmark

Funds at a Glance

# Nifty 50/ S&P BSE 100 IndexEquity Fund, Equity Fund Pension, Balanced Fund, Balanced Fund Pension and Index Tracker Fund are benchmarked to Nifty 50 Index which is not sponsored endorsed, sold or promoted by India IndexServices & Products Limited (IISL). IISL is not responsible for any errors or omissions or the results obtained from the use of such index and in no event shall IISL have any liability to any party for anydamages of whatsoever nature (including lost profits) resulted to such party due to purchase or sale or otherwise of such product benchmarked to such index.

“Standard & Poor's® and “S&P® are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Bombay Stock Exchange (BSE). The S&P BSE 100 Index is not compiled,calculated or distributed by Standard & Poor's and Standard & Poor's and BSE make no representation regarding the advisability of investing in products that utilize any such Index as a component. Allrights in the S&P SENSEX/ S&P BSE 100 vest in Bombay Stock Exchange Ltd. (“BSE”). BSE and SENSEX are trademarks of BSE and are used by IndiaFirst Life Insurance Company Limited. BSE shallnot be liable in any manner whatsoever (including in negligence) for any loss arising to any person whosoever out of use of or reliance on the SENSEX by any person.

As on November 30, 2021

Equity Fund Y Y N N N N N N N N N

Debt Fund Y Y N N N N N N N N N

Balanced Fund Y Y N N N N N N N N N

Liquid Fund Y Y N N N N N N N N N

Equity Fund Pension N N N Y N N N N N N N

Debt Fund Pension N N N Y N N N N N N N

Balanced Fund Pension N N N Y N N N N N N N

Liquid Fund Pension N N N Y N N N N N N N

Equity1 Fund N N Y N Y Y Y Y N Y N

Balanced1 Fund N N Y N Y Y Y N N Y N

Debt1 Fund N N Y N Y Y Y Y Y Y N

Index Tracker Fund N N Y N N N Y N N Y N

Value Fund N N Y N Y Y Y N N Y N

Dynamic Asset Allocation Fund N N N N N N N N Y Y N

Equity Elite Opportunities Fund N N N N N N N N N Y

Liquid1 Fund # N N Y N Y Y Y N Y N N

Cash Fund N N N N N N N N N N Y

Bond Fund N N N N N N N N N N Y

Equity Advantage Fund N N N N N N N N N N Y

Dynamic Moderator Fund N N N N N N N N N N Y

#Only available for Settlement Options for the Systematic Transfer of Fund benefit

@Closed for New business - only renewal premiums now

*The earlier IndiaFirst Smart save Plan and IndiaFirst Money Balance Plan had Index Tracker Fund option. However, they were relaunched without this option

IndiFirstHappyIndia Plan

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Plan@

IndiaFirst Life

Wealthmaximizer

Plan

IndiaFirstEmployee

Benefit Plan

Fund Options under IndiaFirst ULIP Products - Individual Policyholders & Group Policyholders

Individual ProductsGroup

Products

Fund Name

IndiaFirst

SavingsPlan @

IndiaFirstEducation

Plan @

IndiaFirstYoungIndia

Plan @

IndiaFirstFuturePlan@

IndiaFirst

Smart SavePlan

PortfolioNature of Security/Security Name PercentageEquityTop 20 Equity SecuritiesReliance Industries Ltd 8.53

Name Infosys Technologies Ltd 6.22

Equity 1 Fund Reliance ETF Bank BeES 5.82

HDFC 5.75AUM Kotak Banking ETF 5.58

Rs. 2877 crore ITC Ltd 5.11ICICI Bank Ltd 4.69Tata Consultancy Services Ltd 3.81

Targeted Asset Allocation Pattern in Percentage HDFC Bank Ltd 3.75Minimum Maximum Actual Larsen & Toubro Limited 3.72

80 100 97 Bharti Airtel Ltd 3.490 10 0 State Bank of India 2.210 20 3 Sun Pharmaceutical Inds Ltd 2.07

Kotak Mahindra Bank Ltd 2.02Maruti Suzuki India Ltd 2.00Tata Motors Ltd 1.88

Fund Positioning Tata Steel Ltd 1.50NTPC Ltd 1.45Hindalco Industries Ltd 1.45Hindustan Unilever Ltd 1.44Others (See Annexure 1 for details) 24.12Total - Equity Securities 96.61

Money Market Instruments 3.39MF Units – Liquid Funds 0.00Grand Total 100.00

Returns (%)

1 Month -4.766 Months 7.851 Year 35.252 Years 19.063 Years 16.295 Years 14.54Since Inception 10.40*For details please refer "Fund at a Glance; # Annualised Retuns

Quantitative Indicators (Equity)

9.60

-3.488.2528.1817.1114.8214.53

Industry -wise Exposure

Std Dev (Annualised) Sharpe Ratio Portfolio Beta15.60% 1.76 1.08

Debt Securities and BondsCash and Money Market Investments

This Fund is positioned as a highly diversified equity fund aiming to provide a stable andsustainable relative out performance visà-vis the benchmark. The fund will stick to the themeof discipline, diligence and dividend yield while selecting equity stocks. It will invest at least 70percent of its exposure to equity in large cap stocks (from Nifty 50 Index or BSE 100 Index)and the remaining may be invested in mid/ small-cap equity stocks.

Asset Allocation in crore as on November 30, 2021

Period Equity 1 FundComposite

Benchmark*

Equity Shares

Date of Inception NAV as on November 30, 2021

15-Sep-10 Rs. 30.3372

Fund Manager Funds managed by the Fund ManagerViraj Nadkarni Equity - 7, Debt - 0, Balanced - 5


Fund Manager's CommentsKey Indices (Nifty and Sensex) end November on a weak note: The month of November 2021,Indian markets ended on a weak note amid concerns over a new coronavirus variant (‘Omicron’).The BSE-30 and Nifty-50 fell nearly 4% each, their biggest monthly loss since March 2020. Someof the key developments during the month were – reduction in excise duty on petrol & diesel by Rs5 / Rs 10 per liter, Indian telecom operators announced tariff hikes, reliance industries called off itsdeal with Saudi Armco, US Fed in its 2 day monetary policy meeting indicated that it would soonbegin reducing the pace of its monthly bond purchases, US senate passed more than USD 1tninfra bill and the US together with China, India, Japan, South Korea and UK decided to increaseoil supply by releasing their strategic reserves to cool down rising crude prices which rose 17% ina month due to the limited supply from OPEC countries. On the Macro Economic Front,September IIP grew 3.1% compared to 12% in August. October CPI increases to 4.48%compared to 4.35% in September on the back of higher food prices even as core inflationremained sticky and elevated. October WPI inflation came in at 12.5%, increasing from 10.7% inSeptember. GDP growth in Q2FY22 came in at 8.4% YoY (ahead of expectations) compared to20.1% YoY in Q1FY22 and contraction of 7.4% in Q2FY21. FPIs sold USD 3.8 bn of Indianequities in the secondary market while DIIs bought USD 4.1bn during the month.

Global markets sell off: On global front, amidst dual concerns of inflation/monetary policy anduncertainty about the transmissibility and virulence of the Omicron variant, equity markets sold offduring the end of the month. Having started the month well, developed market equities ended themonth down 2.2%. Government bonds rallied. For markets, November was dominated by risingCovid hospitalisations in parts of Europe and concerns about the new Omicron variant. So far, it isunclear whether the mutations in the Omicron variant will significantly reduce the effectiveness ofexisting vaccines.

Key Monitorable: Equity markets are likely to take cues from the upcoming MPC meeting,quantum of US bond purchases and effectiveness of existing vaccines in curtailing thehospitalisations of the Omicron variant. Despite the correction, market valuations continue toremain elevated. Considering the above factors, we would approach the markets with a stock-specific view and stick to companies which have better growth prospects and stronger balancesheets. In light of the changing dynamics, we would continue to maintain higher weightagetowards Large Caps favouring Sectors such as BFSI, FMCG, Auto, IT, Pharma.

2779.4197%

97.653%

Equity Money Market Instruments

Fact Sheet for November 2021 ( based on portfolio as on 30.11.2021 )

To provide high growth opportunities with an objective of long term capitalappreciation through investments primarily in equity and equity related instruments.

Equity 1 Fund (SFIN:ULIF009010910EQUTY1FUND143)

23.20%

22.47%

12.62%

11.40%

9.65%

5.11%

3.72%

3.62%

3.49%

2.58%

2.14%

Financial and Insurance Activities

Others

Computer software

Asset Management Services (Mutual Funds)

Refinery

Tobacco Products

Industrial construction

Drugs & pharmaceuticals

Telecommunication Services

Commercial vehicles

Steel

0% 5% 10% 15% 20% 25%

The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market opportunities and future outlook of the markets


Name Infosys Technologies Ltd 6.41

Equity Fund Kotak Banking ETF 5.89

Reliance ETF Bank BeES 5.74AUM HDFC 5.71

Rs. 230 crore ITC Ltd 5.21ICICI Bank Ltd 4.90HDFC Bank Ltd 3.96

Targeted Asset Allocation Pattern in Percentage Tata Consultancy Services Ltd 3.95Minimum Maximum Actual Bharti Airtel Ltd 3.76

80 100 99 Larsen & Toubro Limited 3.520 10 0 State Bank of India 2.340 20 1 Tata Motors Ltd 2.18

Maruti Suzuki India Ltd 2.04Sun Pharmaceutical Inds Ltd 1.90Kotak Mahindra Bank Ltd 1.86

Fund Positioning Tata Steel Ltd 1.82NTPC Ltd 1.48Hindustan Unilever Ltd 1.46Bank of Baroda 1.46Others (See Annexure 1 for details) 24.07Total - Equity Securities 98.55


Returns (%)



10.09

-3.488.2528.1817.1114.8214.53




This Fund is positioned as a highly diversified equity fund aiming to provide a stable andsustainable relative out performance visà- vis the benchmark.The Fund will stick to the themeof discipline, diligence and dividend yield while selecting equity stocks. It will invest at least 70percent of its exposure to equity in large cap stocks and the remaining may be invested inmid/ small-cap equity stocks.


Period Equity FundComposite

Benchmark*

Equity Shares


25-Nov-09 Rs. 32.6638



226.2099%

3.341%




Equity Fund (SFIN:ULIF001161109EQUITYFUND143)

23.66%

20.92%

12.48%

11.63%

10.01%

5.21%

3.76%

3.67%

3.52%

2.90%

2.25%


Others

Computer software


Refinery

Tobacco Products




Commercial vehicles

Steel

0% 5% 10% 15% 20% 25%






Name Reliance ETF Bank BeES 7.03Equity Fund -

Pension Infosys Technologies Ltd 6.61

HDFC Bank Ltd 4.64AUM Kotak Banking ETF 4.36

Rs. 123 crore HDFC 4.31ICICI Bank Ltd 4.31ITC Ltd 4.12

Targeted Asset Allocation Pattern in Percentage Larsen & Toubro Limited 3.96Minimum Maximum Actual Bharti Airtel Ltd 3.89

80 100 98 Tata Consultancy Services Ltd 3.710 10 0 Hindustan Unilever Ltd 2.780 20 2 Axis Bank Ltd 2.16

Asian Paints Ltd 2.15State Bank of India 1.86Maruti Suzuki India Ltd 1.65

Fund Positioning Wipro Ltd 1.45Tata Motors Ltd 1.45Sun Pharmaceutical Inds Ltd 1.44Mahindra & Mahindra 1.41Others (See Annexure 1 for details) 26.67Total - Equity Securities 98.27


Returns (%)



10.09

-3.488.2528.1817.1114.8214.53




This Fund is positioned as a diversified equity fund with a moderate exposure to mid-capstocks. The aim of the Fund is to provide a stable and sustainable relative out performancevis-àvis the benchmark. The Fund will stick to the theme of discipline, diligence and dividendyield while selecting equity stocks. The Fund will have an exposure of upto 30 percent to mid-cap companies. The remaining exposure will continue to be in largecap companies.


PeriodEquity Fund -

PensionComposite

Benchmark*

Equity Shares


25-Nov-09 Rs. 33.8668



120.6198%

2.122%



To provide higher growth with reasonable security, by investing primarily in equityinstruments and moderate allocation in debt securities/ bonds.

Equity Fund - Pension (SFIN:ULIF002161109EQUFUNDPEN143)

23.69%

20.11%

14.11%

11.39%

10.36%

4.12%

3.96%

3.89%

3.43%

2.78%

2.15%


Others

Computer software


Refinery

Tobacco Products




Cosmetics, toiletries, soaps & detergents

Paints & Varnishes

0% 5% 10% 15% 20% 25%






Name Kotak Banking ETF 5.19Equity Elite

Opportunities Reliance ETF Bank BeES 4.98

Infosys Technologies Ltd 4.74AUM HDFC 4.58

Rs. 42 crore ITC Ltd 4.15ICICI Bank Ltd 3.63Larsen & Toubro Limited 3.46

Targeted Asset Allocation Pattern in Percentage HDFC Bank Ltd 3.15Minimum Maximum Actual Bharti Airtel Ltd 3.04

60 100 90 Tata Consultancy Services Ltd 2.730 0 0 Tata Motors Ltd 1.920 40 10 Maruti Suzuki India Ltd 1.86

Sun Pharmaceutical Inds Ltd 1.72Tata Steel Ltd 1.66State Bank of India 1.66

Fund Positioning Canara Bank 1.56NTPC Ltd 1.55Nestle India Ltd 1.43Dr Reddys Laboratories Ltd 1.38Others (See Annexure 1 for details) 27.87Total - Equity Securities 89.53


Returns (%)



10.54

-2.226.0519.8812.5411.2911.34




This Fund is positioned as a diversified equity fund aiming to provide a stable and sustainablerelative out performance vis-à-vis the benchmark. The fund would stick to the theme ofdiscipline, diligence and dividend yield while selecting the equity stocks. It would invest atleast 70 % of its exposure to equity in the large cap stocks and the remaining could be in mid/ small cap equity stocks.


PeriodEquity Elite

OpportunitiesComposite

Benchmark*

Equity Shares


27-Oct-16 Rs. 18.3005



37.1890%

4.3510%



To provide growth opportunities with an objective of long term capital appreciationthrough investments primarily in equity and equity related instruments and an activemanagement of asset allocation between Equity and Money Market instruments.

Equity Elite Opportunities (SFIN:ULIF020280716EQUELITEOP143)

33.43%

18.73%

10.17%

9.99%

7.67%

4.31%

4.15%

3.46%

3.04%

2.57%

2.47%

Others



Computer software

Refinery


Tobacco Products



Commercial vehicles

Steel

0% 5% 10% 15% 20% 25% 30% 35% 40%





PortfolioRating Percentage

5.70Name 4.07

Balanced Fund 3.72

3.62AUM 3.61

3.283.202.51

Targeted Asset Allocation Pattern in Percentage 2.47Minimum Maximum Actual 2.43

50 70 63 27.9630 50 31 62.560 20 6

5.15Fund Positioning 2.44

1.991.611.431.161.160.790.76

16.50

AAA 2.39AAA 2.37AAA 2.26AAA 2.13AAA 1.65AAA 1.59AA+ 1.01AA+ 0.80AAA 0.58AAA 0.20

0.0014.98

Returns (%)5.970.00

-2.84 100.006.0624.3814.95 Credit Profile of Debt and Money Market Investments13.8911.249.10

*For details please refer "Fund at a Glance

Maturity Profile of Debt Portfolio


Quantitative Indicators (Debt)

Please refer to the page “Fund Manager's Comments”Average Maturity (Years) Modified Duration (Years) Fund Manager's Comments

3.79 2.39

Rs. 129 crore

Composite Benchmark*

-2.066.3920.24


5 - 10 Years

Total

Since Inception AAA & P1+ & PR1+ & A1+

MF Units – Liquid Funds1 Month Grand Total6 Months

20.33> 10 Years 9.12Total 100.00

3 - 12 Months 35.541 - 3 Years 15.963 - 5 Years 3.11

100.00

Period Exposure in Percentage0 - 3 Months 15.94

A & Below 0.00Fixed Deposits with Banks 0.00CBLO/TREPS/ Other Money Market Investments 15.94

35.16AA+ & AA 4.84

Industry -wise Exposure (%) AA- 0.00

9.36

2 Years3 Years Nature Percentage5 Years GSEC & T Bills 44.06

13.9812.9012.02

1 Year

6.65% Food Corporation of India 20309.15% Axis Bank Ltd 2022Others (See Annexure 1 for details)Total - Corporate bonds

PeriodBalanced

FundMoney Market Instruments

6.85% Indian Railways Finance Corporation 20409.22% LIC Housing Finance Ltd 20247.95% India Infradebt Limited 20247.71% L&T Finance 202210.02% Mahindra & Mahindra Fin. Serv. 202210.15% Mahindra & Mahindra Fin. Serv. 2022

Total - Sovereign Securities

Asset Allocation in crore as on November 30, 2021 Top 10 Corporate bonds9.35% Rural Electrification Corp 20229.95% Food Corporation of India 2022

8.35% Government of India 20225.77% Government of India 2030

This Fund is positioned as a balanced mix of debt and equity, with the asset allocationpattern providing a good opportunity to provide consistent and sustainable returns. Theequity portion will have a highly diversified portfolio with high liquidity while the debt portionwill comprise of high rated debt instruments with a low to moderate liquidity. The assetallocation will follow a macro level market scenario and the individual stock selection will bewith micro level performance expectations of the stocks and securities.

6.84% Government of India 20226.79% Government of India 20277.17% Government of India 20285.63% Government of India 20264.68% Government of India 20346.45% Government of India 20296.1% Government of India 2031

Debt Securities and Bonds Total - Equity SecuritiesCash and Money Market Investments

DebtTop Sovereign Securities

Tata Consultancy Services LtdHDFC Bank LtdLarsen & Toubro Limited

Equity Shares Others (See Annexure 1 for details)

Viraj Nadkarni Equity - 7, Debt - 0, Balanced - 5 ICICI Bank Ltd

25-Nov-09 Rs. 28.4854 Kotak Banking ETF

Reliance ETF Bank BeESFund Manager Funds managed by the Fund Manager HDFC

Nature of Security/Security NameEquityTop 10 Equity SecuritiesReliance Industries Ltd

Date of Inception NAV as on November 30, 2021 Infosys Technologies Ltd

Sandeep Shirsat Equity - 0, Debt - 7, Balanced - 5 ITC Ltd


80.5563%

40.5231%

7.686%

Equity Debt Money Market Instruments

25.46%

19.03%

16.50%

7.93%

7.34%

6.41%

6.29%

3.28%

2.94%

2.43%

2.40%

Others


Sovereign

Computer software


Refinery

Infrastructure Finance Services

Tobacco Products

Trading



0% 5% 10% 15% 20% 25% 30%



Balanced Fund (SFIN:ULIF005161109BALANCEDFN143)



5.38Name 3.89

Balanced 1 Fund 3.87

3.58AUM 3.46

3.162.752.37


50 70 60 27.4130 50 31 60.020 20 8


2.081.761.611.571.371.160.920.561.79

20.45

AAA 3.78AAA 2.53AAA 1.45AAA 1.23AA+ 0.94AAA 0.56AAA 0.26AAA 0.17AA+ 0.12AAA 0.00

Returns (%) 0.0011.05

-2.70 8.486.21 0.0023.50 Grand Total 10013.94 Credit Profile of Debt and Money Market Investments12.6710.648.75






3.35 2.33

Rs. 431 crore


-2.066.3920.24


5 - 10 Years

Total


1 Month Money Market Instruments6 Months

26.00> 10 Years 2.30Total 100.00


100.00



25.00AA+ & AA 2.64


9.17


13.9812.9012.02

MF Units – Liquid Funds1 Year

8.93% Power Grid Corporation Ltd 20226.65% Food Corporation of India 203010.5% Mahindra & Mahindra Fin. Serv. 20218% Britannia Industries Ltd 2022Others (See Annexure 1 for details)

PeriodBalanced 1

FundTotal - Corporate bonds

8.57% Rural Electrification Corp 20249.95% Food Corporation of India 20229.35% Rural Electrification Corp 20227.95% India Infradebt Limited 20247.8% Apollo Tyres Ltd 20229.39% LIC Housing Finance Ltd 2024

5.85% Government of India 2030Others (See Annexure 1 for details)

Asset Allocation in crore as on November 30, 2021 Total - Sovereign Securities

Top 10 Corporate bonds


This Fund is positioned as a balanced mix of debt and equity, with the asset allocationpattern providing a good opportunity to provide consistent and sustainable returns. Theequity portion will have a highly diversified portfolio with high liquidity while the debt portionwill comprise of high rated debt instruments with a low to moderate liquidity. The assetallocation will follow a macro level market scenario and the individual stock selection will bewith micro level performance expectations of the stocks and securities.

7.17% Government of India 20286.45% Government of India 20296.84% Government of India 20225.77% Government of India 20306.1% Government of India 20315.63% Government of India 20264.68% Government of India 2034


DebtTop 10 Sovereign Securities

Tata Consultancy Services LtdBharti Airtel LtdState Bank of India


Viraj Nadkarni Equity - 7, Debt - 0, Balanced - 5 Larsen & Toubro Limited

14-Sep-10 Rs. 25.6247 Infosys Technologies Ltd

HDFCFund Manager Funds managed by the Fund Manager HDFC Bank Ltd


Date of Inception NAV as on November 30, 2021 ICICI Bank Ltd



258.7960%

135.8132%

36.568%


26.65%

20.45%

18.16%

7.61%

6.46%

6.08%

3.66%

3.16%

2.75%

2.70%

2.31%

Others

Sovereign


Computer software


Refinery


Tobacco Products


Trading


0% 5% 10% 15% 20% 25% 30%



Balanced 1 Fund (SFIN:ULIF011010910BALAN1FUND143)



6.71Name 4.38

Balanced Fund - Pension 3.60

3.51AUM 3.14

2.772.542.37


50 70 68 34.3930 50 31 67.880 20 1


2.501.180.930.630.61

16.10

AAA 4.15AA+ 2.47AAA 2.33AAA 2.14AA+ 1.57AAA 1.35AAA 0.93AAA 0.00AAA 0.00

14.95

1.070.00

100.00 Returns (%)

-2.246.9120.6815.37 Credit Profile of Debt and Money Market Investments13.6411.829.52






5.11 3.57

Rs. 83 crore


-2.066.3920.24


5 - 10 Years

Total


1 Month6 Months

40.90> 10 Years 7.25Total 100.00


100.00



33.96AA+ & AA 12.59


9.36


13.9812.9012.02

1 Year

Money Market InstrumentsMF Units – Liquid FundsGrand Total

PeriodBalanced

Fund -

10.02% Mahindra & Mahindra Fin. Serv. 202210.15% Bajaj Finance Ltd 20249.3% LIC Housing Finance Ltd 20225.5% Britannia Industries Ltd 20248% Britannia Industries Ltd 2022Total - Corporate bonds

Top Corporate bonds6.65% Food Corporation of India 2030

Asset Allocation in crore as on November 30, 2021 10.15% Mahindra & Mahindra Fin. Serv. 20226.85% Indian Railways Finance Corporation 20409.95% Food Corporation of India 2022


This Fund is positioned as a balanced mix of debt and equity, with the asset allocationpattern providing a good opportunity to provide consistent and sustainable returns. Theequity portion will have a highly diversified portfolio with high liquidity while the debt portionwill comprise of high rated debt instruments with low to moderate liquidity. The assetallocation will follow a macro level market scenario and the individual stock selection will bewith micro level performance expectations of the stocks and securities.

6.79% Government of India 20276.1% Government of India 20316.84% Government of India 20227.17% Government of India 20286.45% Government of India 2029Total - Sovereign Securities



Tata Consultancy Services LtdITC LtdBharti Airtel Ltd


Viraj Nadkarni Equity - 7, Debt - 0, Balanced - 5 Hindustan Unilever Ltd

25-Nov-09 Rs. 29.8296 HDFC Bank Ltd

HDFCFund Manager Funds managed by the Fund Manager Reliance ETF Bank BeES



Sandeep Shirsat Equity - 0, Debt - 7, Balanced - 5 Larsen & Toubro Limited


56.4768%

25.8431%

0.891%


25.10%

20.94%

16.10%

9.83%

7.48%

6.29%

3.49%

3.14%

2.77%

2.54%

2.33%

Others


Sovereign

Computer software

Refinery

Trading






0% 5% 10% 15% 20% 25% 30%



Balanced Fund - Pension (SFIN:ULIF006161109BALFUNDPEN143)



33.79Name 10.96

Debt Fund 8.65

5.73AUM 5.73

Rs. 18 crore 64.85

Targeted Asset Allocation Pattern in Percentage AAA 6.35Minimum Maximum Actual AAA 5.89

0 0 0 AA+ 5.8470 100 95 AAA 3.110 30 5 AAA 3.11

AAA 3.09AAA 1.48

Fund Positioning AA+ 1.4230.31

4.840.00

100.00

Credit Profile of Debt and Money Market Investments

Returns (%)

3.412.541.395.465.544.546.79

*For details please refer "Fund at a Glance; # Annualised RetunsIndustry - wise Exposure (%)



Fund Manager's CommentsPlease refer to the page “Fund Manager's Comments”

Average Maturity (Years) Modified Duration (Years)8.41 2.79


5 - 10 Years 19.61> 10 Years 45.25Total 100.00


Since Inception 7.83


2 Years 7.483 Years 8.795 Years 6.89

1 Month# 8.366 Months# 5.201 Year 4.29

Fixed Deposits with Banks 0.00CBLO/TREPS/ Other Money Market Investments 4.84

Period Debt FundTotal 100.00

AA+ & AA 7.26AA- 0.00A & Below 0.00

Nature PercentageGSEC & T Bills 64.85AAA & P1+ & PR1+ & A1+ 23.05


10.5% Mahindra & Mahindra Fin. Serv. 2021Total - Corporate bonds


This Fund is positioned as a pure debt oriented fund, with asset allocation pattern providing a good opportunity to provide consistent and sustainable returns. The debt portfolio will comprise of high rated debt instruments with a low to moderate liquidity, government securities and money market investments with very high safety and easy liquidity. The asset allocation between corporate debt and government securities/ money market investments and the portfolio duration of the fund, will follow a macro level economic scenario while the individual corporate debt investments will follow with a micro level credit worthiness and debt servicing capacity of companies.

Debt Securities and Bonds 9.34% HDFC 2024Cash and Money Market Investments 9.37% Power Finance Corporation Ltd 2024

8.43% HDFC 20259.15% Axis Bank Ltd 2022

Top Corporate bonds10.15% Bajaj Finance Ltd 20249.05% LIC Housing Finance Ltd 2022

Equity Shares 10.15% Mahindra & Mahindra Fin. Serv. 2022

25-Nov-09 Rs. 22.037 6.1% Government of India 2031

7.05% State Government of Telangana 2035Fund Manager Funds managed by the Fund Manager 7.05% State Government of Andhra Pradesh 2035

Nature of Security/Security NameDebtTop Sovereign Securities4.68% Government of India 2034

Date of Inception NAV as on November 30, 2021 5.77% Government of India 2030

Sandeep Shirsat Equity - 0, Debt - 7, Balanced - 5 Total - Sovereign Securities



16.7895%

0.855%

Debt Money Market Instruments

0-3 Months

3-12 Months

1-3 Years

3-5 Years

5-10 Years

> 10 Years

64.85%

15.10%

12.09%

4.84%

3.11%

Sovereign


Housing finance services

Others


0% 10% 20% 30% 40% 50% 60% 70%


To generate a good level of income and rospects for capital growth throughdiversified investment in corporate debt instruments, government securities andmoney market investments.

Debt Fund (SFIN:ULIF003161109DEBTFUND00143)

GSEC & T Bills

AAA & P1+ & PR1+ & A1+

AA+ & AA

CBLO/TREPS/ Other MoneyMarket Investments


8.00Name 5.49

Debt 1 Fund 4.74

4.65AUM 4.23

Rs. 1675 crore 3.553.452.82


0 0 0 25.5270 100 96 67.110 30 4

AAA 2.09Fund Positioning AAA 1.65

AAA 1.56AAA 1.51AAA 1.46AAA 1.21AA 1.20

AAA 1.10AA 1.07

AAA 0.9614.7128.52

4.370.00

100.00


Returns (%)

7.553.671.785.545.933.536.46














Period Debt 1 FundTotal 100.00

AA+ & AA 3.59AA- 0.00A & Below 0.56

Grand Total


Others (See Annexure 1 for details)Total - Corporate bonds

Asset Allocation in crore as on November 30, 2021Money Market InstrumentsMF Units – Liquid Funds

8.22% National Bank For Agricultural Devlopment 20287.55% Indian Railways Finance Corporation 20308.3% Reliance Industries Ltd 20227.95% India Infradebt Limited 20247.63% Power Finance Corporation Ltd 20268.48% Uttar Pradesh Power Corporation Ltd 20228.57% Rural Electrification Corp 20248.48% Uttar Pradesh Power Corporation Ltd 20238.11% Rural Electrification Corp 2025

This Fund is positioned as a pure debt oriented fund, with asset allocation pattern providing a good opportunity to provide consistent and sustainable returns. The debt portfolio will comprise of high rated debt instruments with a low to moderate liquidity, government securities and money market investments with very high safety and easy liquidity. The asset allocation between corporate debt and government securities/ money market investments and the portfolio duration of the fund, will follow a macro level economic scenario while the individual corporate debt investments will follow with a micro level credit worthiness and debt servicing capacity of companies.

Debt Securities and Bonds Total - Sovereign SecuritiesCash and Money Market Investments

Top 10 Corporate bonds7.17% National Highways Authority of India 2021

7.17% Government of India 20286.1% Government of India 20315.77% Government of India 2030


6.97% Government of India 2026

17-Sep-10 Rs. 20.1841 7.26% Government of India 2029

6.79% Government of India 2027Fund Manager Funds managed by the Fund Manager 5.85% Government of India 2030

Nature of Security/Security NameDebtTop 10 Sovereign Securities4.68% Government of India 2034


Sandeep Shirsat Equity - 0, Debt - 7, Balanced - 5 7.59% Government of India 2026



1602.2496%

73.244%


0-3 Months

3-12 Months

1-3 Years

3-5 Years

5-10 Years

> 10 Years

67.11%

9.33%

4.66%

4.51%

4.37%

2.45%

2.45%

2.13%

2.09%

0.91%

Sovereign




Others

Trading

Electricity Transmission & Distribution

Refinery

Business Services & Consultancy

Tyres & Tubes

0% 10% 20% 30% 40% 50% 60% 70% 80%



Debt 1 Fund (SFIN:ULIF010010910DEBT01FUND143)

GSEC & T Bills

AAA & P1+ & PR1+ & A1+

AA+ & AA

A & Below



33.79Name 9.79

Debt Fund - Pension 8.22

6.18AUM 3.04

Rs. 32 crore 3.012.342.34


0 0 070 100 940 30 6 AA+ 6.37

AAA 4.25AAA 3.47

Fund Positioning AAA 3.22AAA 2.52AAA 2.40AAA 1.70

23.93

5.650.00

100.00


Returns (%)

3.512.541.155.165.524.556.66














PeriodDebt Fund -

PensionTotal 100.00

AA+ & AA 6.37AA- 0.00A & Below 0.00



9.05% LIC Housing Finance Ltd 20228.43% HDFC 20259.3% LIC Housing Finance Ltd 20229.34% HDFC 2024Total - Corporate bonds


This Fund is positioned as a pure debt oriented fund, with asset allocation pattern providing a good opportunity to provide consistent and sustainable returns. The debt portfolio will comprise of high rated debt instruments with a low to moderate liquidity, government securities, money market investments with avery high safety and easy liquidity. The asset allocation between corporate debt and government securities/ money market investments and the portfolio duration of the fund, will follow a macro level economic scenario while the individual corporate debt investments will follow with a micro level credit worthiness and debt servicing capacity of companies.

Debt Securities and Bonds Top Corporate bondsCash and Money Market Investments 10.15% Mahindra & Mahindra Fin. Serv. 2022

9.39% Power Finance Corporation Ltd 202410.15% Bajaj Finance Ltd 2024

7.05% State Government of Andhra Pradesh 20358.42% State Government of Andhra Pradesh 2028Total - Sovereign Securities

Equity Shares

7.05% State Government of Telangana 2035

25-Nov-09 Rs. 21.7129 5.77% Government of India 2030

5.63% Government of India 2026Fund Manager Funds managed by the Fund Manager 6.1% Government of India 2031

Nature of Security/Security NameDebtTop Sovereign Securities4.68% Government of India 2034


Sandeep Shirsat Equity - 0, Debt - 7, Balanced - 5 5.85% Government of India 2030



30.4994%

1.836%


0-3 Months

3-12 Months

1-3 Years

3-5 Years

5-10 Years

> 10 Years

70.42%

9.84%

9.84%

5.65%

4.25%

Sovereign



Others


0% 10% 20% 30% 40% 50% 60% 70% 80%



Debt Fund - Pension (SFIN:ULIF004161109DEBFUNDPEN143)

GSEC & T Bills

AAA & P1+ & PR1+ & A1+

AA+ & AA


PortfolioPercentage


Name

Liquid Fund

AUMRs. 0.04 crore

Targeted Asset Allocation Pattern in PercentageMinimum Maximum Actual

0 0 0 Fund Manager's Comments0 20 080 100 100

Fund Positioning


Returns (%)

1.901.741.711.852.653.354.61




Period100.00

3 - 12 Months 0.001 - 3 Years 0.00

Since Inception

-- --

3 - 5 Years 0.005 - 10 Years 0.00> 10 Years 0.00

6.15

Total 100.00

Average Maturity (Years) Modified Duration (Years)

Exposure in Percentage0 - 3 Months

3.273.404.234.95

Period Liquid Fund

1 Month#

6 Months#


3.393.26

1 Year2 Years3 Years5 Years

Fixed Deposits with Banks 0.00CBLO/TREPS/ Other Money Market Investments 100.00Total 100.00

AA+ & AA 0.00AA- 0.00A & Below 0.00

AAA & P1+ & PR1+ & A1+ 0.00

Equity SharesDebt Securities and Bonds

Fund Manager's Comments The funds under the Liquid Fund category continuedto be invested in highly liquid short term papers having very high safety andliquidity, as per the investment mandates, set out for this fund.

Cash and Money Market Investments

This Fund is positioned as a pure debt oriented short term liquid fund with the assetallocation pattern giving a reasonable opportunity to provide consistent and sustainablereturns, with very high liquidity. The investment portfolio will primarily comprise of high ratedshort term money market investments with very high safety and easy liquidity. The maturityprofile and the portfolio duration will follow a macro level economic scenario and theexpected liquidity needs of the fund.


Nature PercentageGSEC & T Bills 0.00

Fund Manager Funds managed by the Fund ManagerSandeep Shirsat Equity - 0, Debt - 7, Balanced - 5

Nature of Security/Security Name


09-Jan-13 Rs. 14.9354


0.04100%

Money Market Instruments

0-3 Months

100.00%others

0% 20% 40% 60% 80% 100% 120%

To provide capital protection with growth at short-term interest rates while providinga high level of liquidity.


Liquid Fund (SFIN:ULIF007161109LIQUIDFUND143)


CBLO/TREPS/ OtherMoney MarketInvestments

PortfolioPercentage


NameLiquid Fund -

Pension

AUMRs. 0.19 crore

Targeted Asset Allocation Pattern in PercentageMinimum Maximum Actual

0 0 0 Fund Manager's Comments0 20 080 100 100

Fund Positioning


Returns (%)

1.891.711.691.822.533.174.86




Period100.00

3 - 12 Months 0.001 - 3 Years 0.00

Since Inception

-- --

3 - 5 Years 0.005 - 10 Years 0.00> 10 Years 0.00

6.28

Total 100.00

Average Maturity (Years) Modified Duration (Years)

Exposure in Percentage0 - 3 Months

3.273.404.234.95

PeriodLiquid Fund -

Pension1 Month#

6 Months#


3.393.26

1 Year2 Years3 Years5 Years

Fixed Deposits with Banks 0.00CBLO/TREPS/ Other Money Market Investments 100.00Total 100.00

AA+ & AA 0.00AA- 0.00A & Below 0.00

AAA & P1+ & PR1+ & A1+ 0.00

Equity SharesDebt Securities and Bonds

Fund Manager's Comments The funds under the Liquid Fund category continuedto be invested in highly liquid short term papers having very high safety andliquidity, as per the investment mandates, set out for this fund.

Cash and Money Market Investments

This Fund is positioned as a pure debt oriented short term liquid fund with the assetallocation pattern giving a reasonable opportunity to provide consistent and sustainablereturns, with very high liquidity. The investment portfolio will primarily comprise of high ratedshort term money market investments with very high safety and easy liquidity. The maturityprofile and the portfolio duration will follow a macro level economic scenario and theexpected liquidity needs of the fund.


Nature PercentageGSEC & T Bills 0.00

Fund Manager Funds managed by the Fund ManagerSandeep Shirsat Equity - 0, Debt - 7, Balanced - 5

Nature of Security/Security Name


25-Nov-09 Rs. 17.6979


0.19100%


0-3 Months

100.00%others

0% 20% 40% 60% 80% 100% 120%

To provide capital protection with growth at short-term interest rates while providinga high level of liquidity.


Liquid Fund - Pension (SFIN:ULIF008161109LIQFUNDPEN143)


CBLO/TREPS/ OtherMoney MarketInvestments


6.63Name 4.58

Dynamic Asset Allocation Fund 4.42

4.23AUM 4.19

3.883.383.05


0 80 72 32.530 80 25 72.450 40 2


2.882.211.370.940.870.29

19.10

AA 1.40AAA 0.85AAA 0.84AAA 0.60AAA 0.60AAA 0.57AAA 0.30AAA 0.29AA+ 0.28AAA 0.23

0.005.98

Returns (%) 2.480.00

100.00-3.862.269.636.50 Credit Profile of Debt and Money Market Investments7.556.7710.04






5.83 3.37

Rs. 362 crore


-2.066.3920.24


5 - 10 Years

Total


Grand Total1 Month6 Months

23.57> 10 Years 15.43Total 100.00


100.00



15.58AA+ & AA 6.11


10.76


13.9812.9012.02

1 Year

10.15% Bajaj Finance Ltd 2024Others (See Annexure 1 for details)Total - Corporate bonds


PeriodDynamic

Asset MF Units – Liquid Funds

8.01% Rural Electrification Corp 20288.57% Rural Electrification Corp 20249.05% LIC Housing Finance Ltd 20229.3% L&T Infra Debt Fund Ltd 20238.93% Power Grid Corporation Ltd 20227.8% Apollo Tyres Ltd 2022

Top 10 Corporate bondsAsset Allocation in crore as on November 30, 2021 8.48% Uttar Pradesh Power Corporation Ltd 2022

7.71% L&T Finance 20227.42% LIC Housing Finance Ltd 2022


This Fund is positioned as a balanced mix of debt and equity, with the asset allocationpattern providing a good opportunity to provide consistent and sustainable returns. Theequity portion will have a highly diversified portfolio withhigh liquidity while the debt portionwill comprise of high rated debt instruments with a low to moderate liquidity. The assetallocation will follow a macro level market scenario and the individual stock selection will bewith micro level performance expectations of the stocks and securities.

4.68% Government of India 20345.63% Government of India 20266.64% Government of India 20355.85% Government of India 20305.77% Government of India 20307.32% Government of India 2024Total - Sovereign Securities



HDFC Bank LtdTata Consultancy Services LtdBharti Airtel Ltd


Viraj Nadkarni Equity - 7, Debt - 0, Balanced - 5 ICICI Bank Ltd

09-Sep-11 Rs. 26.6106 Reliance ETF Bank BeES

Kotak Banking ETFFund Manager Funds managed by the Fund Manager HDFC





261.9272%

90.6525%

8.973%


23.04%

19.10%

18.42%

9.23%

8.65%

7.46%

3.88%

2.81%

2.76%

2.72%

1.94%

Others

Sovereign


Computer software


Refinery

Tobacco Products




Steel

0% 5% 10% 15% 20% 25%



Dynamic Asset Allocation Fund (SFIN:ULIF015080811DYAALLFUND143)



Name Infosys Technologies Ltd 7.36Index Tracker

Fund HDFC Bank Ltd 6.03

HDFC 5.63AUM Kotak Banking ETF 4.39

Rs. 25 crore Reliance ETF Bank BeES 4.38Tata Consultancy Services Ltd 4.25Larsen & Toubro Limited 3.69

Targeted Asset Allocation Pattern in Percentage Hindustan Unilever Ltd 3.60Minimum Maximum Actual ITC Ltd 3.35

90 100 98 Bharti Airtel Ltd 2.930 0 0 Kotak Mahindra Bank Ltd 2.810 10 2 ICICI Bank Ltd 2.78

Asian Paints Ltd 2.47Bajaj Finance Ltd 1.99Titan Industries Ltd 1.63

Fund Positioning Maruti Suzuki India Ltd 1.49Tata Motors Ltd 1.39Ultratech Cement Limited 1.37Sun Pharmaceutical Inds Ltd 1.36Others (See Annexure 1 for details) 25.79Total - Equity Securities 98.13


Returns (%)

1 Month -3.756 Months 8.781 Year 30.542 Years 18.833 Years 15.825 Years 15.17Since Inception 9.65*For details please refer "Fund at a Glance

Quantitative Indicators (Index Fund)

9.59


Index Tracking Error1.44%


-3.698.6229.5717.8715.4115.06

PeriodIndex Tracker

Fund


Major portion of this Fund will be invested only in large cap index equity stocks. Theexposure / weightages of investment stocks will, however be subject to regulatoryinvestment guidelines and exposure norms.


Equity Shares


22-Sep-10 Rs. 28.0676



Index Tracker Fund (SFIN:ULIF012010910INDTRAFUND143)

24.1398%

0.462%


23.58%

22.27%

14.84%

10.43%

8.77%

4.07%

3.69%

3.60%

3.35%

2.93%

2.47%


Others

Computer software

Refinery





Tobacco Products


Paints & Varnishes

0% 5% 10% 15% 20% 25%

The principal investment objective of the scheme is to invest in stocks of companiescomprising large cap Index stocks and endeavour to achieve return equivalent tolarge cap index.




Name Kotak Banking ETF 5.63

Value Fund Reliance ETF Bank BeES 5.40

Infosys Technologies Ltd 5.20AUM HDFC 5.03

Rs. 137 crore ITC Ltd 4.50ICICI Bank Ltd 3.95Larsen & Toubro Limited 3.75

Targeted Asset Allocation Pattern in Percentage HDFC Bank Ltd 3.45Minimum Maximum Actual Bharti Airtel Ltd 3.43

70 100 96 Tata Consultancy Services Ltd 3.130 0 0 State Bank of India 2.200 30 4 Tata Motors Ltd 2.09

Maruti Suzuki India Ltd 2.00Sun Pharmaceutical Inds Ltd 1.92Tata Steel Ltd 1.84

Fund Positioning Canara Bank 1.71NTPC Ltd 1.69Dr Reddys Laboratories Ltd 1.49Oracle Financial Services Software Ltd. 1.47Others (See Annexure 1 for details) 28.37Total - Equity Securities 96.18


Returns (%)



9.57

-2.998.6829.7617.7714.7414.30




The Fund will be positioned as a multi-cap pure value fund with clearly defined investmentcriteria for investing in value stocks. The Fund will invest in stocks that are relativelyundervalued to their intrinsic value and which will create wealth for shareholders in themedium to long term.


Period Value FundComposite

Benchmark*

Equity Shares


16-Sep-10 Rs. 32.7087



131.9696%

5.254%




Value Fund (SFIN:ULIF013010910VALUEFUND0143)

27.14%

20.90%

11.08%

11.03%

8.35%

4.53%

4.50%

3.75%

3.43%

2.80%

2.48%

Others


Computer software


Refinery


Tobacco Products



Commercial vehicles

Steel

0% 5% 10% 15% 20% 25% 30%





Balanced Fund Equity Elite OpportunitiesSecurity Name Percentage Security Name Percentage

Equity EquityBharti Airtel Ltd 2.40 Oracle Financial Services Software Ltd. 1.36State Bank of India 1.47 Bank of Baroda 1.25Tata Motors Ltd 1.40 Kotak Mahindra Bank Ltd 1.24Maruti Suzuki India Ltd 1.30 Indian Bank 1.23Sun Pharmaceutical Inds Ltd 1.25 Hindalco Industries Ltd 1.21Kotak Mahindra Bank Ltd 1.18 Eicher Motors Ltd 1.11NTPC Ltd 0.93 Hindustan Unilever Ltd 1.06Hindustan Unilever Ltd 0.92 Ultratech Cement Limited 0.91Bank of Baroda 0.91 DLF Ltd. 0.88Canara Bank 0.91 Shipping Corporation of India Ltd. 0.86Dr Reddys Laboratories Ltd 0.78 Beml Ltd. 0.85Ultratech Cement Limited 0.75 Britannia Industries Ltd 0.82Bharat Petroleum Corpn Ltd 0.71 Steel Authority of India Ltd 0.81Indian Bank 0.69 Balrampur Chini Mills Ltd 0.81Tata Steel Ltd 0.68 Heritage Foods Ltd 0.79Nestle India Ltd 0.67 Birla Corporation Ltd 0.77Tech Mahindra Ltd 0.63 NMDC Ltd 0.72Shipping Corporation of India Ltd. 0.61 Power Grid Corporation Ltd 0.72DLF Ltd. 0.60 Hindustan Aeronautics Ltd. 0.68Bajaj Auto Ltd 0.60 Ajanta Pharma Limited 0.67Union Bank of India 0.59 Marico Ltd 0.67Birla Corporation Ltd 0.51 Ashok Leyland Ltd 0.65NMDC Ltd 0.51 Tech Mahindra Ltd 0.65Wipro Ltd 0.50 National Aluminium Co. Ltd 0.64Polycab India Limited 0.49 Polycab India Limited 0.64Power Grid Corporation Ltd 0.47 Taj Gvk Hotels & Resorts Ltd 0.61Hindustan Aeronautics Ltd. 0.47 Cipla Ltd 0.54Ashok Leyland Ltd 0.44 ISGEC Heavy Engineering Ltd 0.54Hindalco Industries Ltd 0.43 Hindustan Zinc Ltd 0.53Thermax Ltd 0.43 ONGC Ltd 0.52National Aluminium Co. Ltd 0.42 Wipro Ltd 0.52ONGC Ltd 0.42 KNR Constructions Limited 0.50Hindustan Zinc Ltd 0.41 Bajaj Auto Ltd 0.44Axis Bank Ltd 0.39 Igarashi Motors India Limited 0.43Britannia Industries Ltd 0.37 Union Bank of India 0.43Ajanta Pharma Limited 0.35 NOCIL Ltd 0.42Balrampur Chini Mills Ltd 0.35 Bharat Petroleum Corpn Ltd 0.39NOCIL Ltd 0.32 Axis Bank Ltd 0.01ISGEC Heavy Engineering Ltd 0.25 Total - Equity Securities 27.87Eicher Motors Ltd 0.23Oracle Financial Services Software Ltd. 0.22 Equity FundTotal - Equity Securities 27.96 Security Name Percentage

EquityDebt Canara Bank 1.448% Britannia Industries Ltd 2022 0.00 Dr Reddys Laboratories Ltd 1.22Total - Corporate bonds 0.00 Hindalco Industries Ltd 1.19

Ultratech Cement Limited 1.17Eicher Motors Ltd 1.14Bharat Petroleum Corpn Ltd 1.12

Equity Fund - Pension Indian Bank 1.06Security Name Percentage Tech Mahindra Ltd 0.99Equity DLF Ltd. 0.98Grasim Industries Ltd 1.33 Shipping Corporation of India Ltd. 0.97HCL Technologies Ltd 1.31 Union Bank of India 0.93Power Grid Corporation Ltd 1.19 Bajaj Auto Ltd 0.90NTPC Ltd 1.16 Birla Corporation Ltd 0.80Tata Steel Ltd 1.15 NMDC Ltd 0.79LIC Housing Finance Ltd 1.11 Wipro Ltd 0.78Bharat Petroleum Corpn Ltd 1.08 Polycab India Limited 0.75Tech Mahindra Ltd 1.04 Hindustan Aeronautics Ltd. 0.75SBI Life Insurance Company Limited 1.01 Ashok Leyland Ltd 0.72Tata Global Beverages Ltd 1.00 Power Grid Corporation Ltd 0.71Ultratech Cement Limited 0.98 National Aluminium Co. Ltd 0.67Bajaj Finance Ltd 0.98 Hindustan Zinc Ltd 0.63Indian Oil Corporation Ltd 0.96 Britannia Industries Ltd 0.58Eicher Motors Ltd 0.96 Ajanta Pharma Limited 0.55Bajaj Auto Ltd 0.88 Nestle India Ltd 0.54GAIL (India) Ltd 0.86 Balrampur Chini Mills Ltd 0.54Hindalco Industries Ltd 0.82 ONGC Ltd 0.52Dr Reddys Laboratories Ltd 0.82 NOCIL Ltd 0.49Kotak Mahindra Bank Ltd 0.78 Steel Authority of India Ltd 0.43Bajaj Finserv Ltd 0.75 ISGEC Heavy Engineering Ltd 0.37The Ramco Cements Limited 0.73 Oracle Financial Services Software Ltd. 0.35Bank of Baroda 0.72 Axis Bank Ltd 0.00Cipla Ltd 0.67 Total - Equity Securities 24.07ONGC Ltd 0.67Rallis India Ltd 0.64Coal India Ltd 0.62Canara Bank 0.55Syngene International Ltd 0.50Federal Bank Ltd 0.49Godrej Agrovet Ltd 0.46Gujarat Pipavav Port Ltd 0.43Yes Bank Ltd 0.01Total - Equity Securities 26.67

AnnexureBreak up of Other Investments is as given below

Debt 1 Fund Balanced 1 FundSecurity Name Percentage Security Name Percentage

Debt Equity7.1% HDFC 2031 0.91 Reliance ETF Bank BeES 1.907.8% Apollo Tyres Ltd 2022 0.91 Kotak Mahindra Bank Ltd 1.778.95% Food Corporation of India 2029 0.67 Kotak Banking ETF 1.768.2% National Bank For Agricultural Devlopment 2028 0.66 Sun Pharmaceutical Inds Ltd 1.348.65% Power Finance Corporation Ltd 2024 0.65 Maruti Suzuki India Ltd 1.258.35% HDFC 2026 0.65 Tata Motors Ltd 1.247.99% HDFC 2024 0.63 NTPC Ltd 0.947.64% Food Corporation of India 2029 0.63 Bank of Baroda 0.907.05% Reliance Industries Ltd 2023 0.62 Hindustan Unilever Ltd 0.898% India Infradebt Limited 2022 0.61 Canara Bank 0.856.65% Food Corporation of India 2030 0.59 Hindalco Industries Ltd 0.778.43% HDFC 2025 0.57 Tata Steel Ltd 0.708.07% Energy Efficiency Services Ltd 2023 0.56 Bharat Petroleum Corpn Ltd 0.6910.3% Sundaram Finance Ltd 2022 0.53 Ultratech Cement Limited 0.689.39% LIC Housing Finance Ltd 2024 0.51 Bajaj Auto Ltd 0.689.22% LIC Housing Finance Ltd 2024 0.49 Oracle Financial Services Software Ltd. 0.657.35% Bajaj Finance Ltd 2022 0.46 Indian Bank 0.659.3% L&T Infra Debt Fund Ltd 2023 0.43 Dr Reddys Laboratories Ltd 0.639.34% Rural Electrification Corp 2024 0.33 Shipping Corporation of India Ltd. 0.6110.15% Bajaj Finance Ltd 2024 0.32 DLF Ltd. 0.607.33% LIC Housing Finance Ltd 2025 0.31 Union Bank of India 0.599.23% LIC Housing Finance Ltd 2022 0.31 Beml Ltd. 0.587.9% India Infradebt Limited 2022 0.31 Birla Corporation Ltd 0.539.15% Axis Bank Ltd 2022 0.28 Balrampur Chini Mills Ltd 0.519.34% HDFC 2024 0.26 NMDC Ltd 0.499.39% Power Finance Corporation Ltd 2024 0.25 Polycab India Limited 0.489.37% Power Finance Corporation Ltd 2024 0.23 Hindustan Aeronautics Ltd. 0.479.35% Rural Electrification Corp 2022 0.21 Ashok Leyland Ltd 0.447.65% Axis Bank Ltd 2027 0.19 Axis Bank Ltd 0.438.93% Power Grid Corporation Ltd 2022 0.18 Eicher Motors Ltd 0.4310.02% Mahindra & Mahindra Fin. Serv. 2022 0.16 ONGC Ltd 0.4210.15% Mahindra & Mahindra Fin. Serv. 2022 0.15 Wipro Ltd 0.4110.5% Mahindra & Mahindra Fin. Serv. 2021 0.10 National Aluminium Co. Ltd 0.418.01% Rural Electrification Corp 2028 0.03 Hindustan Zinc Ltd 0.39Total - Corporate bonds 14.71 Britannia Industries Ltd 0.35

Ajanta Pharma Limited 0.35Debt Nestle India Ltd 0.343.8% Government of India 2024 2.07 Tech Mahindra Ltd 0.317.74% State Government of Tamil Nadu 2027 1.91 Development Credit Bank Ltd 0.007.77% State Government of Andhra Pradesh 2028 1.90 Total - Equity Securities 27.416.64% Government of India 2035 1.776.67% Government of India 2050 1.74 Debt7.86% State Government of Karnataka 2027 1.60 7.59% Government of India 2026 0.507.18% State Government of Tamil Nadu 2027 1.55 7.27% Government of India 2026 0.496.98% State Government of Telangana 2028 1.52 7.72% Government of India 2025 0.296.79% Government of India 2029 1.23 8.97% Government of India 2030 0.277.27% Government of India 2026 1.01 6.79% Government of India 2027 0.247.2% State Government of Maharashtra 2027 0.93 Total - Sovereign Securities 1.796.68% Government of India 2031 0.916.8% Government of India 2060 0.88 Debt6.53% State Government of Tamil Nadu 2031 0.88 8.49% NTPC Ltd 2025 0.006.45% Government of India 2029 0.82 Total - Corporate bonds 0.008.59% State Government of Karnataka 2025 0.658.05% State Government of Gujarat 2026 0.646.5% State Government of Gujarat 2030 0.596.63% State Government of Tamil Nadu 2035 0.586.7% State Government of Gujarat 2030 0.538.08% State Government of Gujarat 2028 0.327% State Government of Maharashtra 2028 0.316.54% State Government of Karnataka 2030 0.298.42% State Government of Andhra Pradesh 2028 0.297.05% State Government of Telangana 2035 0.157.05% State Government of Andhra Pradesh 2035 0.148.8% State Government of Kerala 2022 0.097.72% Government of India 2025 0.098.35% Government of India 2022 0.075.68% State Government of Maharashtra 2024 0.03Total - Sovereign Securities 25.52

Annexure Break up of Other Investments is as given below

Index Tracker Fund Dynamic Asset Allocation FundSecurity Name Percentage Security Name Percentage

Equity EquityMahindra & Mahindra 1.34 Larsen & Toubro Limited 2.72Tata Steel Ltd 1.32 Kotak Mahindra Bank Ltd 1.58HCL Technologies Ltd 1.28 Maruti Suzuki India Ltd 1.45Bajaj Finserv Ltd 1.19 Sun Pharmaceutical Inds Ltd 1.42Power Grid Corporation Ltd 1.16 State Bank of India 1.35Nestle India Ltd 1.14 Hindalco Industries Ltd 1.33Axis Bank Ltd 1.14 Tata Steel Ltd 1.30Grasim Industries Ltd 1.04 Tata Motors Ltd 1.10NTPC Ltd 1.02 Hindustan Unilever Ltd 1.10Hindalco Industries Ltd 1.00 Canara Bank 1.03Divis Laboratories Ltd 0.99 NTPC Ltd 0.98Wipro Ltd 0.99 Dr Reddys Laboratories Ltd 0.96Tech Mahindra Ltd 0.97 Eicher Motors Ltd 0.88Dr Reddys Laboratories Ltd 0.91 Bharat Petroleum Corpn Ltd 0.83ONGC Ltd 0.86 Ultratech Cement Limited 0.79Cipla Ltd 0.80 Oracle Financial Services Software Ltd. 0.79State Bank of India 0.77 Axis Bank Ltd 0.75Tata Global Beverages Ltd 0.75 Bajaj Auto Ltd 0.75Britannia Industries Ltd 0.70 Birla Corporation Ltd 0.72Bajaj Auto Ltd 0.69 Bank of Baroda 0.70HDFC Standard Life Insurance Company Limited 0.67 DLF Ltd. 0.69UPL Ltd 0.62 Beml Ltd. 0.68Hero Motocorp Limited 0.56 Union Bank of India 0.68Eicher Motors Ltd 0.55 Shipping Corporation of India Ltd. 0.66Shree Cements Ltd 0.55 Steel Authority of India Ltd 0.64Coal India Ltd 0.54 Balrampur Chini Mills Ltd 0.62Bharat Petroleum Corpn Ltd 0.50 Indian Bank 0.61Indian Oil Corporation Ltd 0.49 Tech Mahindra Ltd 0.59SBI Life Insurance Company Limited 0.39 NMDC Ltd 0.58JSW Steel Ltd 0.36 Polycab India Limited 0.54Adani Ports & Special Economic Zone Ltd. 0.33 National Aluminium Co. Ltd 0.53Indusind Bank Ltd 0.16 Ashok Leyland Ltd 0.50Yes Bank Ltd 0.01 Wipro Ltd 0.49Total - Equity Securities 25.79 Hindustan Zinc Ltd 0.48

Britannia Industries Ltd 0.47ONGC Ltd 0.45Ajanta Pharma Limited 0.43Nestle India Ltd 0.36Total - Equity Securities 32.53

Debt5.5% Britannia Industries Ltd 2024 0.008% Britannia Industries Ltd 2022 0.00Total - Corporate bonds 0.00


Balanced Fund - Pension Value FundSecurity Name Percentage Security Name Percentage

Equity EquityAsian Paints Ltd 1.97 Bank of Baroda 1.38ICICI Bank Ltd 1.75 Indian Bank 1.35Bajaj Finance Ltd 1.67 Kotak Mahindra Bank Ltd 1.34Kotak Mahindra Bank Ltd 1.63 Hindalco Industries Ltd 1.29Maruti Suzuki India Ltd 1.33 Hindustan Unilever Ltd 1.22Titan Industries Ltd 1.30 Eicher Motors Ltd 1.19Ultratech Cement Limited 1.17 Ultratech Cement Limited 0.98HCL Technologies Ltd 1.17 DLF Ltd. 0.96Sun Pharmaceutical Inds Ltd 1.12 Beml Ltd. 0.94Mahindra & Mahindra 1.07 Shipping Corporation of India Ltd. 0.94Tata Steel Ltd 1.06 Britannia Industries Ltd 0.90Tata Motors Ltd 1.06 Balrampur Chini Mills Ltd 0.88Tech Mahindra Ltd 1.04 Heritage Foods Ltd 0.86Nestle India Ltd 0.99 Birla Corporation Ltd 0.84Bajaj Finserv Ltd 0.98 Power Grid Corporation Ltd 0.80Grasim Industries Ltd 0.92 NMDC Ltd 0.78Power Grid Corporation Ltd 0.91 Nestle India Ltd 0.78Wipro Ltd 0.87 Hindustan Aeronautics Ltd. 0.74NTPC Ltd 0.84 Tech Mahindra Ltd 0.72Divis Laboratories Ltd 0.83 Polycab India Limited 0.71Dr Reddys Laboratories Ltd 0.82 Ashok Leyland Ltd 0.71Hindalco Industries Ltd 0.79 Taj Gvk Hotels & Resorts Ltd 0.66Cipla Ltd 0.71 Steel Authority of India Ltd 0.65ONGC Ltd 0.67 Cipla Ltd 0.60HDFC Standard Life Insurance Company Limited 0.61 Hindustan Zinc Ltd 0.60Axis Bank Ltd 0.59 ISGEC Heavy Engineering Ltd 0.59Britannia Industries Ltd 0.57 ONGC Ltd 0.58Bajaj Auto Ltd 0.56 Wipro Ltd 0.56UPL Ltd 0.55 KNR Constructions Limited 0.56Tata Global Beverages Ltd 0.52 Ajanta Pharma Limited 0.51Shree Cements Ltd 0.47 Union Bank of India 0.49State Bank of India 0.47 Igarashi Motors India Limited 0.48Hero Motocorp Limited 0.43 Bajaj Auto Ltd 0.48Coal India Ltd 0.43 NOCIL Ltd 0.46Eicher Motors Ltd 0.42 Bharat Petroleum Corpn Ltd 0.44SBI Life Insurance Company Limited 0.41 Marico Ltd 0.39Indian Oil Corporation Ltd 0.39 Axis Bank Ltd 0.00Bharat Petroleum Corpn Ltd 0.38 Total - Equity Securities 28.37JSW Steel Ltd 0.32Adani Ports & Special Economic Zone Ltd. 0.28 Equity 1 FundBank of Baroda 0.16 Security Name Percentage

Indusind Bank Ltd 0.14 EquitySBI Cards and Payment Services Limited 0.03 Bank of Baroda 1.44Yes Bank Ltd 0.01 Canara Bank 1.38Thermax Ltd 0.00 Ultratech Cement Limited 1.13Total - Equity Securities 34.39 Bharat Petroleum Corpn Ltd 1.12

Bajaj Auto Ltd 1.07Oracle Financial Services Software Ltd. 1.07Indian Bank 1.04Dr Reddys Laboratories Ltd 1.01DLF Ltd. 0.96Beml Ltd. 0.96Shipping Corporation of India Ltd. 0.94Union Bank of India 0.92Tech Mahindra Ltd 0.86Birla Corporation Ltd 0.85Balrampur Chini Mills Ltd 0.82NMDC Ltd 0.77Polycab India Limited 0.76Hindustan Aeronautics Ltd. 0.74Ashok Leyland Ltd 0.71ONGC Ltd 0.69Wipro Ltd 0.67Eicher Motors Ltd 0.66National Aluminium Co. Ltd 0.66Steel Authority of India Ltd 0.63Hindustan Zinc Ltd 0.62Britannia Industries Ltd 0.57Ajanta Pharma Limited 0.54Nestle India Ltd 0.53Axis Bank Ltd 0.00Total - Equity Securities 24.12


Toll Free No. 1800 209 8700SMS <FIRST> to 5667735, SMS charges apply.Website: www.indiafirstlife.com

Disclaimer: Past performance may or may not be sustained in future and is not a guarantee of future performance. Some of the contents of this document may contain statements / estimates / expectations / predictions, which may be 'forward looking'. The actual outcomes could differ materially from those expressed /implied in this document. These statements, do not intend to provide personal recommendation to any specific individual or any investment needs of an individual. The recommendations / statements / estimates / expectations / predictions are of general in nature and may not take into account the specific investment needs or risk appetite or financial situations of individual clients. Therefore, before acting on any advice or recommendations contained in this document, readers, in their own interest, should consider seeking advice from any authorized and professional investment advisors or financial consultants.’

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