Group Fund Factsheet April 2019 - Life Insurance · d) Monsoon: India Meteorological Department (IMD) has forecasted a near-normal monsoon in 2019 (96% of long period average). Domestic

Life InsuranceAditya Birla Sun LifeInsurance Company Limited

Group Fund FactsheetApril 2019

Aditya Birla Sun Life Insurance Company Limited | adityabirlasunlifeinsurance.com

LIFE INSURANCEAditya Birla Sun Life Insurance Company Limited PROTECTING INVESTING FINANCING ADVISING

Index Page No.

Market Outlook

Fund Managers Profile

Fund Performance

Secure Fund

Stable Fund

Stable Fund 2

Growth Fund

Growth Fund 2

Growth Advantage Fund

Money Market Fund

Money Market Fund 2

Short Term Debt Fund

Short Term Debt Fund 2

Income Advantage Fund

Gilt Fund

Bond Fund

Fixed Interest Fund

Fixed Interest Fund 2

1

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19


Market Update


Global Factors

a) IMF: IMF slashed its global growth forecast for the third time to 3.3% from 3.5% for CY19. IMF projected India’s growth at 7.3% and 7.5% in CY19 and CY20 respectively.

b) US GDP: US GDP came in at 3.2% in 1QCY19 as against 2.2% in 4QCY18, growth heavily relied on a build-up in inventories.

c) China GDP: China’s GDP grew at 6.4% YoY in 1QCY19 largely due to the two stimulus programs announced in January’19 and March’19. Also, strong investment growth and consumer demand offset the impact from the ongoing trade war with the US.

d) FED: FED kept interest rates unchanged though Interest on Excess Reserves (IOER) was lowered by 5bps to 2.35%.

e) ECB: ECB also kept interest rates unchanged and expects no rate hike in CY19.

Source: Tradingeconomics.com

Source: Tradingeconomics.com

Economy Review

Domestic Factors

The key events in the month were –

Inflation-CPI rose to 2.9% in March’19 against 2.6% in February’19. WPI came in at 3.2% in March’19 vs 2.9% in February’19.

a) Credit and Deposit Growth: Overall bank credit growth came in at 12.9% yoy in March’19 driven by NBFC and retail

segment. Deposit growth was 9.6% yoy in March’19.

b) Manufacturing PMI: Manufacturing PMI moderated to 51.8 in April’19 from 52.6 in March’19 as new business growth

moderated, curbed by the elections and a challenging economic environment.

c) Trade Deficit: India’s trade deficit reached a record high of $176 billion in FY19. Imports grew 9% yoy to $507 billion and

exports stood at $331 billion up 9% yoy.

d) Monsoon: India Meteorological Department (IMD) has forecasted a near-normal monsoon in 2019 (96% of long period

average).

Domestic macro economic data.

On the economy front, IIP slowed down to 0.1% in February’19 vs 1.4% in January’19. This was led by slowdown in

manufacturing and electricity, whereas consumer non-durables witnessed strong growth.

Inflation

IIP

CPI WPI

0

1

2

3

4

5

6

7

8

9

5.34.5

3.8

7.06.5

4.8 4.6

8.4

2.6

0.2

1.4

0.1

Mar

-18

Apr-

18

May

-18

Jun-

18

Jul-1

8

Aug-

18

Sep-

18

Oct-

18

Nov-

18

Dec-

18

Feb-

19

Jan-

19

Apr-

18

May

-18

Jun-

18

Jul-1

8

Aug-

18

Sep-

18

Oct-

18

Nov-

18

Dec-

18

Jan-

19

Feb-

19

Mar

-190

1

2

3

4

5

6

4.6

3.6

4.94.8 4.9

5.7

4.2

5.3

4.5

5.1

3.73.4

5.3

2.3

4.6

3.5

2.1 2.0

2.8 2.92.6

2.93.2

3.7

Market Update


Outlook for Equities

In April, Nifty rose only 1% as Lok Sabha election took centre stage as polling completed in 4 out of 7 phases, crude oil prices rose on US announcing end of waiver on Iran crude imports (current waiver are valid till 2nd May 2019) and IMF lowering global growth target to 3.3% in CY19. RBI in its April policy, kept stance unchanged while cutting down rates by another 25bps. IMD forecasts a near normal monsoon this year. On the domestic front, there has been some slowdown on the consumption front reflecting in auto and consumer durables sales. US and China are nearing a trade deal that would roll back a portion of the $250 billion in US tariffs on Chinese goods. FED and ECB kept interest rates unchanged.

FIIs remained net buyers in the month of April’19. They bought around $1.7 bn in April’19 taking the CYTD total to $9.9 bn. While, DIIs remained sellers with total outflow of $0.6 bn in April’19, the CYTD total standing at net outflows of $2.4 bn.

Markets currently trades at 18.7x, one-year forward earnings, slightly higher than its 10-year average as macro-economic concerns ease with earnings growth recovery in sight. India’s economic growth is expected to remain strong with IMF projecting India’s growth at 7.3% and 7.5% in CY19 and CY20 respectively. We expect earnings growth of over 20% for FY20 driven by traction in core industries like cement, steel, capital goods and construction along-with corporate banks. Investors in equity funds can continue to invest for long-term as corporate earnings are expected to revive from the current levels.

Outlook for Debt

RBI actions to infuse liquidity marked the month of April. Second tranche of three-year USD-INR swap was well bid by corporate and banks, taking total to $10 bn which infused liquidity of Rs700 bn. A surprise OMO purchase announcement of Rs250 bn was done by RBI. Liquidity slipped into deficit mode, somewhat higher than expectations in the month of April to the tune of Rs1.50 tn. Banking system liquidity is expected to turn neutral to positive by end of May based on the measures taken for large liquidity infusion.

MPC lowered its CPI inflation, with upside risk due to higher crude prices, fiscal deficit and food inflation kicking in. Inflation prints have started inching higher as March CPI came at 2.86%.

Euro zone growth concerns abound however recent US data points have been coming stronger. Current bias is towards no rate action from major global central banks in rest of CY19. Crude oil prices have been on an uptrend in 2019 and are now higher by around 40% CYTD. Monsoon prediction by IMD is near normal.

Yield on the 10 year Government bond had inched up to 7.41% from 7.35% in the month of April. In the near term, we expect yields to be in the range of 7.30% to 7.50%. Corporate bond spread over G-sec is at 90 bps with likelihood of moving towards 65 bps.

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

INDEX 29-Dec-17 30-Nov-17 % Change

11748.15 11623.90 1.07%

39031.55 38672.91 0.93%

11868.07 11809.19 0.50%

26592.91 25928.68 2.56%

22258.73 21205.81 4.97%

29699.11 29051.36 2.23%

8095.39 7729.32 4.74%

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

INDEX 30-Apr-19 29-Mar-19 % Change

NSEBSE

10 Yr G-Sec Yield 5 year AAA Corporate Bond Spread

10 Year G-Sec

5 Year G-Sec

90 Day T Bill

364 Day T-Bill

Call Rates

7.41% 7.35% 0.81%

7.34% 6.93% 5.59%

6.43% 6.14% 4.51%

6.50% 6.31% 2.92%

6.12% 6.24% -1.96%

Key Indices % Change30-Apr-19 29-Mar-19

bps

Perc

enta

ge (%

)

4000

5000

6000

7000

8000

9000

10000

11000

12000

13000

30000

31000

32000

33000

34000

35000

36000

37000

38000

39000

40000

May

-18

Jun-

18

Jul-1

8

Aug-

18

Sep-

18

Oct-

18

Nov-

18

Dec-

18

Jan-

19

Feb-

19

Mar

-19

Apr-

19

30

60

90

120

150

180

210

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

May

-18

Jun-

18

Jul-1

8

Aug-

18

Sep-

18

Oct-

18

Nov-

18

Dec-

18

Jan-

19

Feb-

19

Mar

-19

Apr-

19

Fund Managers Profile

Debt Fund SFIN No Fund Manager

Group Money Market Fund

Group Money Market Fund2

Group Short Term Debt Fund

Group Short Term Debt Fund 2

Group Income Advantage Fund

Group Gilt Fund

Group Bond Fund

Group Fixed Interest Fund

Group Fixed Interest Fund 2

ULGF00824/08/04BSLIGRMMKT109

ULGF01928/11/11BSLGRMMKT2109

ULGF01322/09/08BSLGSHTDBT109

ULGF02128/11/11BSLGSHTDB2109

ULGF01425/02/10BSLGINCADV109

ULGF00630/05/03BSLIGRGILT109

ULGF00530/05/03BSLIGRBOND109

ULGF00416/07/02BSLGFIXINT109

ULGF01728/11/11BSLGFXINT2109

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Fund Manager No. of Funds Managed

Debt Fund

Debt Fund

Balanced Fund Equity FundMr. Parin Vora

Mr. Sameer Mistry

9

-

6

6

-

-

Mr. Sameer Mistry – Joint Vice President - InvestmentsMr. Sameer Mistry – Joined ABSLI in January 2009. He has over 18

years of experience in Equity Research and Fund Management. Prior to

joining us, he worked as a Fund Manager with Reliance Capital Asset

Management, Tata Mutual Fund and SBI Life Insurance. Sameer has

done his BE (Electronics & Telecom) as well as a an MBA in Finance.

Mr. Parin Vora – Assistant Vice President - InvestmentsMr. Parin Vora has been with ABSLI since October 2007 and is primarily

responsible for Fixed Income trading and Fund Management. He has

18 years of experience in Fixed Income Industry and was associated

with Birla Sun Life Securities & Mata Securities. Parin has done his

MBA in Finance from Welingkar’s Institute of Management and DPMIR

from Narsee Monjee Institute of Management Studies.

Balaced Fund SFIN NoEquity Debt

Group Secure Fund

Group Stable Fund

Group Stable Fund 2

Group Growth Fund

Group Growth Fund 2

Group Growth Advantage Fund

ULGF00212/06/01BSLGSECURE109

ULGF00312/06/01BSLGSTABLE109

ULGF02228/11/11BSLGSTABL2109

ULGF00112/06/01BSLGGROWTH109

ULGF01828/11/11BSLGROWTH2109

ULGF01026/11/07BSLIGGRADV109

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Fund Manager

Mr. Sameer Mistry


Fund Performance as on 30th April 2019Group Funds Figures in percentage (%)

Disclaimer:This document is issued by ABSLI. While all reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. Past performance is not necessarily indicative of future performance. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Aditya Birla Sun Life Insurance Company Limited, nor any person connected with it, accepts any liability arising from the use of this document. You are advised to make your own independent judgment with respect to any matter contained herein. The investment risk in investment portfolio is borne by the policyholder. The name of the funds do not in any way indicate their quality, future prospects or returns. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance ofinvestment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions Insurance is the subject matter of solicitation.BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS: IRDA clarifies to public that IRDA or its officials do not involve inactivities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details ofphone call, number.* Duration for Money Market Instrument and FD’s is considered as "Zero".

Returns

Absolute

CAGR

Period SecureFund

BM BM BM BMBMStableFund

StableFund 2

GrowthFund 2

GrowthFund

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

Returns

Absolute

CAGR

Period GrowthAdvantage

BM BM BM BM BMMoneyMarket Fund

MoneyMarket Fund 2

Short TermDebt Fund

Short TermDebt Fund 2

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

Returns

Absolute

CAGR

Period IncomeAdvantage Fund

Gilt Fund Bond Fund FixedInterest Fund

FixedInterest Fund 2

BM BM BM BM

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

-0.03

1.42

7.25

9.27

6.05

7.37

7.43

9.01

7.15

SecureStableStable 2GrowthGrowth 2Growth AdvantageMoney MarketMoney Market 2Short Term Debt FundShort Term Debt 2Income AdvantageGilt FundBond Fund

Fixed InterestFixed Interest 2

BSE 100BSE 100BSE 100BSE 100BSE 100BSE 100

-------

--

20%35%35%50%50%60%

-------

--

70%55%55%40%40%30%

--

100%100%85%

-70%15%85%

85%

10%10%10%10%10%10%

100%

100%--

15%-

15%

15%

15%

Crisil Composite Bond Fund IndexCrisil Composite Bond Fund IndexCrisil Composite Bond Fund IndexCrisil Composite Bond Fund IndexCrisil Composite Bond Fund IndexCrisil Composite Bond Fund Index

-

Crisil Short Term Bond Fund IndexCrisil Short Term Bond Fund Index

Crisil Composite Bond Fund Index

-

Crisil AAA Medium Term Bond Fund IndexCrisil AA Medium Term Bond Fund Index



-

Crisil Liquid Fund IndexCrisil Liquid Fund Index

Crisil Liquid Fund Index-

Crisil Liquid Fund Index



Crisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund Index

--

ULGF00212/06/01BSLGSECURE109

ULGF00312/06/01BSLGSTABLE109

ULGF02228/11/11BSLGSTABL2109

ULGF00112/06/01BSLGGROWTH109

ULGF01828/11/11BSLGROWTH2109

ULGF01026/11/07BSLIGGRADV109

ULGF00824/08/04BSLIGRMMKT109

ULGF01928/11/11BSLGRMMKT2109

ULGF01322/09/08BSLGSHTDBT109

ULGF02128/11/11BSLGSHTDB2109

ULGF01425/02/10BSLGINCADV109

ULGF00630/05/03BSLIGRGILT109

ULGF00530/05/03BSLIGRBOND109

ULGF00416/07/02BSLGFIXINT109

ULGF01728/11/11BSLGFXINT2109

Benchmark CompositionSFIN

WeightageFund Name

Weightage WeightageIndex Index Index


0.00 0.05

2.86 2.59

6.88 5.90

7.80 6.62

7.24 5.90

8.97 7.51

7.97 6.95

9.61 8.24

10.27 8.23

0.39 0.26

4.99 4.84

9.03 8.22

6.44 6.04

9.19 7.89

12.63 10.30

9.26 7.75

12.21 9.65

12.04 6.90

0.19 0.13

3.74 3.43

7.90 6.77

7.65 6.44

8.05 6.67

10.28 8.58

8.41 7.29

10.51 8.81

12.48 9.46

0.19 0.21

4.63 4.28

8.88 7.64

6.97 6.21

8.91 7.41

11.95 9.62

9.11 7.58

11.65 9.33

13.84 10.61

0.33 0.21

4.64 4.28

8.67 7.64

7.28 6.21

9.60 7.41

12.85 9.62

10.07 7.58

12.31 9.33

12.62 9.59

0.07 0.13

3.68 3.43

7.95 6.77

8.30 6.44

8.71 6.67

11.16 8.58

9.41 7.29

11.26 8.81

11.27 8.97

0.52 0.43

1.77 1.46

3.72 3.13

7.32 6.42

6.72 6.04

6.97 5.98

7.19 6.18

7.47 6.48

8.81 6.54

0.48 0.43

1.47 1.46

3.12 3.13

6.41 6.42

6.32 6.04

6.55 5.98

6.90 6.18

7.32 6.48

7.96 7.01

0.04 0.14

1.90 1.83

4.60 4.37

8.21 6.82

7.09 5.59

7.31 6.21

7.52 6.52

7.83 7.00

8.39 7.09

0.27 0.14

2.04 1.83

4.77 4.37

8.38 6.82

7.46 5.59

7.79 6.21

8.12 6.52

8.55 7.00

9.30 7.38

-0.32 -0.02

1.79 1.47

5.62 4.64

9.02 6.79

6.13 4.89

7.11 6.05

7.38 6.44

8.53 7.43

8.73 7.04

-0.18 0.02

1.92 1.92

5.02 4.56

7.44 6.04

6.15 5.14

6.96 6.21

7.24 6.55

8.04 7.40

9.75 7.75

-0.30 -0.02

1.79 1.47

5.98 4.64

8.79 6.79

6.47 4.89

7.31 6.05

7.43 6.44

8.65 7.43

8.59 6.21

-0.88 -0.02

1.28 1.47

5.61 4.64

9.66 6.79

6.94 4.89

8.15 6.05

8.37 6.44

9.87 7.43

10.23 7.38

Benchmark: BSE 100, Crisil Composite Bond Fund Index & Crisil Liquid Fund Index

Asset held ̀ 2307.96 Cr as on 30th April 2019:

EQUITY: 19.66%

N AV as on 30th April 2019: ` 57.4156

Group Secure Fund ULGF00212/06/01BSLGSECURE109Fund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 18 years &18 years Portfolio as on Tuesday, April 30, 2019

Fund Snapshot Date of Inception: 19-Jun-01Objective:

Strategy:

This investment fund option helps build your capital and generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt.

To generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.

Know the Fund BetterExposure to equities 19.22%, G-Secs has slightly decreased to 33.37% from 33.53% and MMI has decreased to 14.91% from 15.11% on a MOM basis. Over 87% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

has slightly increased to 19.66% from

CORPORATE DEBT: 32.06%GOVERNMENT SECURITIES: 33.37%9.20% GOI 2030 (MD 30/09/2030) 9.69%8.83% GOI 2023 (MD 25/11/2023) 3.58%8.60% GOI 2028 (MD 02/06/2028) 3.23%8.33% GOI 2026 (MD 09/07/2026) 2.54%9.23% GOI 2043 (MD 23/12/2043) 2.28%8.13% GOI 2045 (MD 22/06/2045) 1.12%7.16% GOI 2023 (MD 20/05/2023) 0.86%8.17% GOI 2044 (MD 01/12/2044) 0.85%8.32% GOI (MD 02/08/2032) 0.77%8.15% GOI 2022 (MD 11/06/2022) 0.74%Other Government Securities 7.70%

8.45% HDFC Ltd. NCD MD (18/05/2026) (Series P - 012) 1.82%6.98% NABARD NCD (MD 30/09/2020) 18G 1.28%9.00% Godrej & Boyce Man Co Ltd. NCD MD (22/04/2021) (Step Up) 1.10%8.75% HDFC Ltd. NCD (04/03/2021)(Series P-002) (Put Opt 14/0) 1.10%7.50 HDFC Ltd. NCD (MD 07/07/2020) 1.08%8.15% Tata Steel Ltd NCD (MD 01/10/2026) 1.03%9.25% Reliance Jio Infocomm Limited NCD (MD 16/06/2024) 1.00%7.55% Tube Investments Of India Ltd NCD (MD 20/02/2020) 0.95%8.30% REC Ltd. NCD (MD 10/04/2025) 0.91%7.80% Apollo Tyres Limited Series C Maturity 30Th Apr 2024 0.85%Other Corporate Debt 20.95%

HDFC Bank Limited 1.90%Reliance Industries Limited 1.39%Housing Development Finance Corporation 1.23%ITC Limited 1.19%ICICI Bank Limited 1.06%Infosys Limited 0.87%Tata Consultancy Services Limited 0.77%Larsen & Toubro Limited 0.76%Hindustan Unilever Limited 0.51%Kotak Mahindra Bank Limited 0.50%Other Equity 9.48%

MMI, Deposits, CBLO & Others: 14.91%

SECTORAL ALLOCATION

ASSET ALLOCATION

Rating Profile

AUM (In Cr) as on 30th April 2019

AAA33.21%

AA6.50%

AA+5.40%

A1+3.31% AA-

0.93%

Sovereign50.65%


MMI, Deposits,CBLO & Others

14.91%

NCD

Equity19.66%

32.06%

G-Secs33.37%

Debt1854.20 ( 80 %)

Equity453.75 ( 20 %)

Modified Duration: 4.39 years

Secure BM

13.34%

1.97%

2.09%

3.65%

4.77%

7.70%

10.09%

10.38%

10.80%

11.35%

23.86%

OTHERS

AUTOMOBILE

METAL

CEMENT

PHARMACEUTICALS

FINANCIAL SERVICES

FMCG

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19


Asset held ̀ as on 30th April 2019: 709.79 Cr Modified Duration: 4.24 years

EQUITY: 34.35%CORPORATE DEBT: 21.14%GOVERNMENT SECURITIES: 23.64%

N AV as on 30th April 2019: ` 79.9132

Group Stable Fund ULGF00312/06/01BSLGSTABLE109Fund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 18 years &18 years Portfolio as on Tuesday, April 30, 2019

Fund Snapshot Date of Inception: 31-Aug-01Objective:

Strategy:

This investment fund option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities.

To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.

Know the Fund BetterOver 90% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

9.23% GOI 2043 (MD 23/12/2043) 4.75%8.33% GOI 2026 (MD 09/07/2026) 4.08%8.83% GOI 2023 (MD 25/11/2023) 2.96%9.20% GOI 2030 (MD 30/09/2030) 2.35%8.28% GOI (MD 15/02/2032) 1.87%8.60% GOI 2028 (MD 02/06/2028) 1.50%8.08% GOI (MD 02/08/2022) 0.91%8.30% GOI 2040 (MD 02/07/2040) 0.75%8.15% GOI 2022 (MD 11/06/2022) 0.73%7.59% GOI 2026 (MD 11/01/2026) 0.71%Other Government Securities 3.04%

9.00 HDFC Ltd. NCD (MD 29/11/2028) Series U-005 2.92%6.98% NABARD NCD (MD 30/09/2020) 18G 2.78%7.85% Indian Hotels Co Ltd (MD 15/04/2022) S-1 2.52%8.75% LIC Housing Finance Ltd NCD (MD 08/12/2028) 2.15%8.50% NABARD NCD Call Put 31/01/2020 (MD 31/01/2022) 2.12%9.475% Aditya Birla Finance Ltd NCD G-8 (MD 18/03/2022) 1.46%7.80% Apollo Tyres Limited Series B Maturity 28Th Apr 2023 1.38%8.90% LIC Housing Finance Ltd NCD (10/08/2020) 0.71%8.40% PGC NCD (MD 27/05/2027) [I] 0.70%7.58% PNB Housing Finance Ltd NCD (MD 15/03/2021) 0.70%Other Corporate Debt 3.70%

HDFC Bank Limited 3.28%Reliance Industries Limited 2.43%Housing Development Finance Corporation 2.32%ITC Limited 2.11%ICICI Bank Limited 1.87%Infosys Limited 1.56%Tata Consultancy Services Limited 1.37%Larsen & Toubro Limited 1.37%Hindustan Unilever Limited 0.95%Kotak Mahindra Bank Limited 0.91%Other Equity 16.20%


SECTORAL ALLOCATION


Equity

Debt

243.84 (34% )

465.95 (66% )

ASSET ALLOCATION


20.86%

NCD21.14%

G-Secs

Equity34.35%

23.64%

Rating Profile

AAA30.76%

AA-

AA

A1+

AA+ 0.72%

0.55%8.89%

13.32%Sovereign45.76%


Stable BM

13.22%

2.02%

2.15%

3.46%

4.46%

8.06%

10.14%

10.33%

10.96%

11.01%

24.18%

OTHERS

METAL

RETAILING

CEMENT

PHARMACEUTICALS

FINANCIAL SERVICES

FMCG

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

MMI, Deposits,CBLO & Others 4.20%

NCD

Equity

6.60%

34.15%

G-Secs55.04%


Asset held ` 2.61 Cr as on 30th April 2019: Modified Duration: 4.73 years


MMI, Deposits, CBLO & Others: 6.60% ASSET ALLOCATION

Rating Profile


N AV as on 30th April 2019: ` 22.1028

Group Stable Fund 2 ULGF02228/11/11BSLGSTABL2109Fund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 18 years &18 years Portfolio as on Tuesday, April 30, 2019

Fund Snapshot Date of Inception: 28-Nov-11Objective:

Strategy:

This investment fund option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities.

To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.

Know the Fund Better100% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

7.80% GOI (MD 11/04/2021) 17.53%9.20% GOI 2030 (MD 30/09/2030) 8.51%9.23% GOI 2043 (MD 23/12/2043) 6.68%7.95% GOI 2032 (28.08.2032) 5.85%7.59% GOI 2026 (MD 11/01/2026) 5.78%7.16% GOI 2023 (MD 20/05/2023) 5.36%9.15% GOI 2024 (MD 14/11/2024) 5.35%

10.70% IRFC NCD (MD 11/09/2023) 4.20% HDFC Bank Limited 3.35%Reliance Industries Limited 2.42%Housing Development Finance Corporation 2.27%ICICI Bank Limited 1.90%ITC Limited 1.85%Infosys Limited 1.58%Larsen & Toubro Limited 1.39%Tata Consultancy Services Limited 1.38%Kotak Mahindra Bank Limited 0.96%Hindustan Unilever Limited 0.94%Other Equity 16.12%

AAA

93.21%Sovereign

6.79%

Debt

Equity

1.72 ( 66% )

0.89 (34% )


Stable 2 BM

SECTORAL ALLOCATION

12.52%

2.05%

2.41%

4.09%

4.64%

8.03%

9.29%

9.95%

10.45%

11.58%

25.00%

OTHERS

METAL

AUTOMOBILE

CEMENT

PHARMACEUTICALS

FINANCIAL SERVICES

CAPITAL GOODS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19


Asset held ̀ 600.24 Cr as on 30th April 2019: Modified Duration: 4.56 years


N AV as on 30th April 2019: ` 98.8176

Group Growth Fund ULGF00112/06/01BSLGGROWTH109Fund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 18 years &18 years Portfolio as on Tuesday, April 30, 2019

Fund Snapshot Date of Inception: 31-Aug-01Objective:

Strategy:

The objective of this investment fund option is to achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This fund option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time.

The strategy is to invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholder’s wealth in long run.

Know the Fund BetterOver 96% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

8.83% GOI 2023 (MD 25/11/2023) 6.09%8.33% GOI 2026 (MD 09/07/2026) 3.48%8.60% GOI 2028 (MD 02/06/2028) 2.13%9.53% State Developement -Gujrat 2024 (MD 12/02/2024) 1.77%9.20% GOI 2030 (MD 30/09/2030) 1.67%9.23% GOI 2043 (MD 23/12/2043) 1.55%7.95% GOI 2032 (28.08.2032) 1.50%8.20% GOI (MD 15/02/2022) 1.46%8.17% GOI 2044 (MD 01/12/2044) 1.22%7.75% Power Finance Corpn. Ltd. NCD (MD 22/03/2027) 1.13%Other Government Securities 5.38%

7.89% Can Fin Homes Ltd. NCD MD (18/05/2022) Series 6 2.49%9.00 HDFC Ltd. NCD (MD 29/11/2028) Series U-005 1.72%8.50% NABARD NCD Call Put 31/01/2020 (MD 31/01/2022) 1.67%9.34% REC Ltd. NCD (MD 25/08/2024) 1.63%8.70% PFC Ltd. NCD (MD 14/05/2020) 1.41%8.55% PFC Ltd. NCD (09/12/2021) SRS 124 1.35%8.45% HDFC Ltd. NCD MD (18/05/2026) (Series P - 012) 1.34%7.35% BPCL Ltd NCD (MD 10/03/2022) 1.27%7.58% PNB Housing Finance Ltd NCD (MD 15/03/2021) 0.82%7.89% PGC NCD (L-VIII) (MD 09/03/2027) 0.81%Other Corporate Debt 4.88%

HDFC Bank Limited 4.64%Reliance Industries Limited 3.46%Housing Development Finance Corporation 3.20%ITC Limited 2.91%ICICI Bank Limited 2.73%Infosys Limited 2.29%Larsen & Toubro Limited 2.01%Tata Consultancy Services Limited 1.95%Hindustan Unilever Limited 1.30%Kotak Mahindra Bank Limited 1.27%Other Equity 23.36%



SECTORAL ALLOCATION

ASSET ALLOCATION

Rating Profile


AA+ AA

AA-

1.76% 0.87%

0.96%

AAA40.28%

Sovereign56.12%


4.09%

Equity

NCD

49.13%

19.40%

G-Secs27.39%

Debt305.36 (51 %)

Equity294.87 (49 %)

Growth BM

13.11%

1.94%

2.07%

3.47%

4.80%

7.76%

9.79%

10.40%

10.67%

11.73%

24.25%

OTHERS

AUTOMOBILE

METAL

CEMENT

PHARMACEUTICALS

FINANCIAL SERVICES

FMCG

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19





SECTORAL ALLOCATION

ASSET ALLOCATION

Rating Profile


NAV as on 30th April 2019: ` 24.1697

Group Growth Fund 2 ULGF01828/11/11BSLGROWTH2109Fund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 18 years &18 years Portfolio as on Tuesday, April 30, 2019


Strategy:

The objective of this investment fund option is to achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This fund option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time.

The strategy is to invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholder’s wealth in long run.


7.95% GOI 2032 (28.08.2032) 7.54%7.59% GOI 2026 (MD 11/01/2026) 6.21%9.23% GOI 2043 (MD 23/12/2043) 2.87%8.83% GOI 2023 (MD 25/11/2023) 2.61%8.83% GOI 2041 (MD 12/12/2041) 1.10%

8.35% LIC Housing Finance Ltd. NCD (MD 23/10/2020) 4.95%9.04% REC Ltd. NCD (MD 12/10/2019) 3.72%8.40% Nuclear Power Corp Of India Ltd (C) (MD 28/11/2027) SE 2.48%7.69% BPCL Ltd NCD (MD 16/01/2023)-2018–Series I 2.43%7.89% Power Grid Corporation NCD (L-VIII) (MD 09/03/2027) 2.39%

HDFC Bank Limited 5.07%Reliance Industries Limited 3.50%Housing Development Finance Corporation 3.29%ICICI Bank Limited 2.69%ITC Limited 2.65%Infosys Limited 2.25%Tata Consultancy Services Limited 2.06%Larsen & Toubro Limited 1.97%Hindustan Unilever Limited 1.40%Kotak Mahindra Bank Limited 1.37%Other Equity 22.68%

Sovereign68.07%

AAA31.93%

Equity19.85 (49 %)

Debt20.71 (51 %)


Equity

NCD15.98%

48.93%

20.33%G-Secs


14.76%

Growth 2 BM

12.18%

2.08%

2.20%

3.97%

4.14%

8.17%

9.45%

9.77%

10.46%

11.97%

25.61%

OTHERS

AUTOMOBILE

RETAILING

CEMENT

PHARMACEUTICALS

FINANCIAL SERVICES

CAPITAL GOODS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING

Group Growth Advantage Fund ULGF01026/11/07BSLIGGRADV109Fund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 18 years &18 years Portfolio as on Tuesday, April 30, 2019

Fund Snapshot Date of Inception: 18-Feb-08Objective:

Strategy:

The Objective of the fund is to provide blend of fixed return by investing in debt & money market instruments and capital appreciation by predominantly investing in equities of fundamentally strong and large blue chip companies.

The fund option will invest at least 40% and maximum of 60% in fundamentally strong and large blue chip companies and minimum 40% in Debt and money market Instruments. The Strategy of the fund is to build and actively manage a well-diversified equity portfolio of value & growth driven stocks by following a research-focused investment approach. While appreciating the high risk associated with equities, the fund would attempt to maximize the risk-return pay-off for the long-term advantage of the policyholders. The fund will also explore the option of having exposure to quality mid cap stocks. The Fund Manager would endeavor to outperform the benchmark. The nonequity portion of the fund will be invested in highrated debt and money market instruments and fixed deposits.




EQUITY: 59.20%CORPORATE DEBT: 11.20%

N AV as on 30th April 2019: ` 35.7408

GOVERNMENT SECURITIES: 14.98%9.20% GOI 2030 (MD 30/09/2030) 7.44%8.33% GOI 2026 (MD 09/07/2026) 2.91%8.83% GOI 2023 (MD 25/11/2023) 1.77%8.60% GOI 2028 (MD 02/06/2028) 1.19%8.83% GOI 2041 (MD 12/12/2041) 1.00%9.23% GOI 2043 (MD 23/12/2043) 0.65%7.88% GOI 2030 (MD 19/03/2030) 0.01%

7.89% Power Grid Corporation NCD (L-VIII) (MD 09/03/2027) 4.32%9.00 HDFC Ltd. NCD (MD 29/11/2028) Series U-005 2.89%9.475% Aditya Birla Finance Ltd NCD G-8 (MD 18/03/2022) 1.74%8.57% REC Ltd. NCD (MD 21/12/2024) 1.13%9.05% Petronet LNG Ltd NCD (MD 28/10/2019) 0.78%8.43% LIC Housing Finance Ltd. NCD (MD 10/07/2026) Put 12/07 0.34%

HDFC Bank Limited 5.61%Reliance Industries Limited 4.20%Housing Development Finance Corporation 3.91%ITC Limited 3.46%ICICI Bank Limited 3.23%Infosys Limited 2.70%Larsen & Toubro Limited 2.36%Tata Consultancy Services Limited 2.28%Hindustan Unilever Limited 1.68%Kotak Mahindra Bank Limited 1.59%Other Equity 28.19%

ASSET ALLOCATION

Rating Profile



NCD

Equity

11.20%

59.20%

14.62%

G-Secs14.98%


Equity

Debt

53.06 (59% )

36.56 (41% )


SECTORAL ALLOCATION

AAA32.25%

Sovereign67.75%

Growth Advantage BM

13.24%

2.03%

2.14%

3.77%

4.91%

8.02%

9.77%

10.31%

10.41%

11.25%

24.15%

OTHERS

METAL

RETAILING

CEMENT

PHARMACEUTICALS

FINANCIAL SERVICES

FMCG

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Group Money Market Fund ULGF00824/08/04BSLIGRMMKT109Fund Manager: Parin Vora | Total Experience: 18 years

Portfolio as on Tuesday, April 30, 2019

Fund Snapshot Date of Inception: 30-Mar-05Objective:

Strategy:

The primary objective of the investment fund option is to provide reasonable returns, at a high level of safety and liquidity for capital conversation for the policyholder.

The strategy of investment fund option is to make judicious investments in high quality debt and money market instruments protect capital of the policyholder with very low level of risk.

Know the Fund BetterOver 95% of the fund is invested in highest rated instruments.The fund continues to maintain very low maturity profile.

Benchmark: Crisil Liquid Fund Index

Asset held ̀ 257.15 Cr as on 30th April 2019: N AV as on 30th April 2019: ` 32.8475

8.12% ONGC Mangalore Petrochemicals Limited NCD (MD 10/06/2019) 7.78%7.85% HDFC Ltd NCD (MD 21/06/2019) 6.22%8.85% Power Grid Corpn. Of India Ltd. NCD (MD 19/10/2019) 5.86%8.90% Steel Authority Of India (MD 01/05/2019) Call Fr 01/05 4.67%9.02% REC Ltd. NCD (MD 19/11/2019) 3.91%6.91% NHPC Ltd NCD (MD 15/09/2019) W1 2.71%8.54% NHPC Ltd NCD (MD 26/11/2019) (SR S2) 2.34%7.72% IRFC NCD (MD 07/06/2019) SRS 128 2.14%9.04% REC Ltd. NCD (MD 12/10/2019) 1.96%8.84% Power Grid Corpn. Of India Ltd. NCD (MD 21/10/2019) 1.95%Other Corporate Debt 8.66%

CORPORATE DEBT: 48.19% ASSET ALLOCATION


Debt257.15 (100%)



Modified Duration: 0.04 years

Money Market BM


48.19%NCD

49.73%

Rating Profile

AAA50.24%

41.98%

5.39%AA-

A1+

2.39%

GOVERNMENT SECURITIES: 2.07%364 Days Tbill (MD 10/10/2019) 2.07%

G-Secs2.07%

Sovereign

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Group Money Market Fund 2 ULGF01928/11/11BSLGRMMKT2109Fund Manager: Parin Vora | Total Experience: 18 years


Fund Snapshot Date of Inception: 28-NOV-11Objective:

Strategy:

The primary objective of the investment fund option is to provide reasonable returns, at a high level of safety and liquidity for capital conversation for the policyholder.

The strategy of investment fund option is to make judicious investments in high quality debt and money market instruments protect capital of the policyholder with very low level of risk.

Know the Fund Better100% of the fund is invested in highest rated instruments. The fund continues to maintain very low maturity profile.

Benchmark: Crisil Liquid Fund Index

ASSET ALLOCATION

Rating Profile



100.00%

Sovereign100.00%

Debt0.31 (100%)



Money Market2 BM

Asset held ` 0.31 Cr as on 30th April 2019: NAV as on 30th April 2019: ` 17.6631

Group Short Term Debt Fund ULGF01322/09/08BSLGSHTDBT109Fund Manager: Parin Vora | Total Experience: 18 years


Fund Snapshot Date of Inception: 10-Dec-08Objective:

Strategy:

This ABSLI fund option helps to provide capital preservation at a high level of safety & liquidity through judicious investments in high quality short-term debt instruments.

To actively manage the fund by building a portfolio of fixed income instruments with short-term duration. The quality & duration of the assets purchased would aim to minimize the credit risk & liquidity risk of the portfolio. Fund will maintain reasonable level of liquidity.

Know the Fund BetterExposure to Corporate Debt has decreased to 73.47% from 74.97% and MMI has increased to 26.53% from 25.03% on a MOM basis. Over 89% of the fund is invested in highest rated instruments.

Benchmark: Crisil Short Term Bond Fund Index

Asset held ` 29.69 Cr as on 30th April 2019: Modified Duration: 1.54 yearsN AV as on 30th April 2019: ` 23.0973

CORPORATE DEBT: 73.47%9.70% Power Finance Corpn. Ltd. NCD (MD 09/06/2021) 6.95%9.10%Fullerton India Credit Co.Ltd. NCD(15/12/2021) S-68 Opt-II 6.91%8.60% ONGC Petro Additions Limited NCD (MD 11/03/2022) 6.84%HDB Financial Services Limited Series 124 ZCB MD 29/10/2021 5.48%9.04% REC Ltd. NCD (MD 12/10/2019) 5.08%9.90 HDFC Ltd. NCD (MD 10/06/2021) 4.19%7.85% Indian Hotels Co Ltd (MD 15/04/2022) S-1 4.01%8.90% Indiabulls Housing Finance Ltd NCD SR. III B (MD 26/09/2021) 3.43%8.84% Power Grid Corpn. Of India Ltd. NCD (MD 21/10/2019) 3.38%7.85% NABARD NCD (MD 31/05/2019) 3.37%Other Corporate Debt 23.82%


ASSET ALLOCATION


Debt29.69 (100%)



26.53%

NCD73.47%

Rating Profile

AAA76.53%

12.72%

AA-8.75%

Sovereign

AA+

2.00%

Short Term Debt BM

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Group Short Term Debt Fund 2 ULGF02128/11/11BSLGSHTDB2109Fund Manager: Parin Vora | Total Experience: 18 years



Strategy:

This ABSLI fund option helps to provide capital preservation at a high level of safety & liquidity through judicious investments in high quality short-term debt instruments.

To actively manage the fund by building a portfolio of fixed income instruments with short-term duration. The quality & duration of the assets purchased would aim to minimize the credit risk &liquidity risk of the portfolio. Fund will maintain reasonable level of liquidity.

Know the Fund BetterExposure to Corporate Debt has slightly increased to 72.91% from 72.74% and MMI has slightly decreased to 27.09% from 27.26% on a MOM basis. Over 80% of the fund is invested in highest rated instruments.

Benchmark: Crisil Short Term Bond Fund Index

Asset held ` 28.75 Cr as on 30th April 2019: Modified Duration: 1.35 yearsNAV as on 30th April 2019: ` 19.3536

CORPORATE DEBT: 72.91%7.90% Nirma Ltd NCD SR III(MD 28/02/2020) 7.97%7.35% BPCL Ltd NCD (MD 10/03/2022) 7.91%9.51% LIC Housing Finance Ltd NCD (MD 24/07/2019) 6.98%8.12% ONGC Mangalore Petrochemicals Limited NCD (MD 10/06/2019) 6.95%7.55% Tube Investments Of India Ltd NCD (MD 20/02/2020) 6.93%8.70% PFC Ltd. NCD (MD 14/05/2020) 6.66%7.48% GRUH Finance Ltd NCD (MD 10/06/19) F-013 5.21%8.44% HDFC Bank Ltd. Infra Bond NCD (MD 28/12/2028) 5.21%7.85% NABARD NCD (MD 31/05/2019) 3.48%7.95% HDFC Bank Ltd NCD Series-1 2016/17 (MD 21/09/2026) 3.38%Other Corporate Debt 12.23%


ASSET ALLOCATION


Debt28.75 (100%)



27.09%

NCD72.91%

Rating Profile

AAA62.98%

AA+

AA7.90%

12.27%

Sovereign16.85%

Short Term Debt 2 BM

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Group Income Advantage Fund ULGF01425/02/10BSLGINCADV109Fund Manager: Parin Vora | Total Experience: 18 years


Fund Snapshot Date of Inception: 23-Mar-10Objective:

Strategy:

To provide capital preservation and regular income, at a high level of safety over a medium term horizon by investing in high quality debt instruments.

To build and actively manage a portfolio of high quality fixed income instruments with medium-term duration. The fund will invest in government securities, high rated corporate bonds, high quality money market instruments and other fixed income securities. The quality of the assets purchased would aim to minimize the credit risk and liquidity risk of the portfolio. The fund will maintain reasonable level of liquidity.

Know the Fund BetterOver 96% of the fund remains invested in highest rated instruments.

Benchmark: Crisil Composite Bond Fund index & Crisil Liquid Fund Index



ASSET ALLOCATION

Rating Profile



10.68%

NCD43.74%

G-Secs45.58%

AAA 49.02%

3.95%3.99%

Sovereign

A1+AA

43.05%

CORPORATE DEBT: 43.74%GOVERNMENT SECURITIES: 45.58%8.83% GOI 2023 (MD 25/11/2023) 13.09%9.23% GOI 2043 (MD 23/12/2043) 6.03%8.20% GOI (MD 15/02/2022) 5.43%7.50% GOI 2034 (10.08.2034) 5.08%7.95% GOI 2032 (28.08.2032) 5.03%8.08% GOI (MD 02/08/2022) 2.67%8.15% GOI FCI SB Bonds (MD 16/10/2022) 2.64%7.59% GOI 2026 (MD 11/01/2026) 2.49%8.30% Fertilizer Co GOI (MD 07/12/2023) 1.47%8.13% GOI 2045 (MD 22/06/2045) 0.77%Other Government Securities 0.88%

HDFC Ltd. ZCB (MD 10/05/2021) SRS P-010 6.33%8.44% HDFC Bank Ltd. Infra Bond NCD (MD 28/12/2028) 6.17%9.37% Power Finance Corporation Ltd NCD (MD 19/08/2024) 5.19%9.15% Export Import Bank Of India NCD (MD 05/09/2022) 5.10%8.00% Reliance Jio Infocomm Limited NCD (MD 07/04/2023) 4.91%LIC Housing Finance Ltd. Tr 363 ZCB (MD 25/02/2020) 4.03%2% Tata Steel Ltd NCD (MD 23/04/2022) 3.71%8.30% REC Ltd. NCD (MD 10/04/2025) 2.46%9.34% REC Ltd. NCD (MD 25/08/2024) 2.07%9.90 HDFC Ltd. NCD (MD 10/06/2021) 1.28%Other Corporate Debt 2.49%


Debt40.50 (100%)

Gr. Inc Adv BM

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Group Gilt Fund ULGF00630/05/03BSLIGRGILT109Fund Manager: Parin Vora | Total Experience: 18 years


Fund Snapshot Date of Inception: 28-Apr-04Objective:

Strategy:

The investment fund option aims to deliver safe and consistent returns over a long-term period by investing in government securities for capital preservation of the policyholder.

The investment fund option strategy is to invest in government securities, maintaining a medium to long-term duration of the portfolio to achieve capital conversation.

Know the Fund BetterExposure to G-Secs has decreased to 68.93% from and MMI has increased to 31.07% from 26.27% on a MOM basis.

73.73%



ASSET ALLOCATION

Rating Profile


Sovereign100.00%

GOVERNMENT SECURITIES: 68.93%8.83% GOI 2041 (MD 12/12/2041) 24.71%9.23% GOI 2043 (MD 23/12/2043) 16.42%8.17% GOI 2044 (MD 01/12/2044) 11.12%9.15% GOI 2024 (MD 14/11/2024) 3.03%9.20% GOI 2030 (MD 30/09/2030) 2.75%8.83% GOI 2023 (MD 25/11/2023) 2.62%8.30% GOI 2042 (MD 31/12/2042) 2.28%8.28% GOI 2027 (MD 21/09/2027) 1.84%8.15% GOI 2022 (MD 11/06/2022) 1.82%8.20% GOI Oil SPL Bond 2023 (MD - 10/11/2023) 1.19%Other Government Securities 1.16%


Debt28.33 (100%)


31.07%

G-Secs68.93%

Apr-12

Oct-12

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Group Bond Fund ULGF00530/05/03BSLIGRBOND109Fund Manager: Parin Vora | Total Experience: 18 years


Fund Snapshot Date of Inception: 28-Jan-07Objective:

Strategy:

The investment fund option aims to achieve capital preservation alongwith stable returns by investing in corporate bonds over medium-term period.

The fund follows a strategy to invest in high credit rated corporate bonds, maintaining a short-term duration of the portfolio at a medium level of risk to achieve capital conservation.

Know the Fund BetterExposure to Corporate Debt has decreased to 85.90% from 89.41% and MMI has increased to 14.10% from 10.59% on a MOM basis. Over 78% of the fund remains invested in highest rated instruments.

Asset held ̀ 329.40 Cr as on 30th April 2019: Modified Duration: 2.54 yearsN AV as on 30th April 2019: ` 32.8039

CORPORATE DEBT: 85.90%8.30% REC Ltd. NCD (MD 10/04/2025) 4.53%9.05% Petronet LNG Ltd NCD (MD 28/10/2019) 3.51%Bharti Telecom Ltd. ZCB (MD 19/02/2021) Series 2 3.38%9.50% HDFC Ltd NCD (MD 13/08/2024) 3.20%2% Tata Steel Ltd NCD (MD 23/04/2022) 3.19%9.15% Axis Bank NCD (MD 31/12/2022) 3.14%8.60% India Infradebt Ltd NCD (MD 08/01/2021) Series I 3.13%8.54% NPC Of India Limited (MD 15/03/2023) 3.09%8.44% HDFC Bank Ltd. Infra Bond NCD (MD 28/12/2028) 3.03%8.40% Power Grid Corporation NCD (MD 27/05/2027) [I] 3.03%Other Corporate Debt 52.68%

ASSET ALLOCATION

Rating Profile



14.10%

NCD85.90%

Benchmark: Crisil AAA Medium Term Bond Index, Crisil AA Medium Term Bond Index & Crisil Liquid Fund Index


Debt329.40 (100%)

AAA74.20%

AA+AA-

AA

A1+Sovereign

A+

12.64%

5.14%3.26%

2.90%1.01%

0.85%MMI, Deposits, CBLO & Others: 14.10%

Gr.Bond BM

Group Fixed Interest Fund ULGF00416/07/02BSLGFIXINT109Fund Manager: Parin Vora | Total Experience: 18 years



Strategy:

The investment fund option with full exposure in debt market instrument, aims to achieve value creation at low risk over along-term horizon by investing into high quality fixed interest securities.

Active fund management at a medium level of risk by having entire exposure to government securities, corporate bonds maintaining medium to long-term duration of the portfolio to achieve capital conservation.

Know the Fund BetterExposure to Corporate Debt has decreased to 54.62% from 56.78% G-Secs has slightly decreased to 36.47% from 36.48% and MMI has increased to 8.91% from 6.74% on a MOM basis. Over 85% of the fund remains invested in highest rated instruments.

Modified Duration: 4.96 yearsNAV as on 30th April 2019: ` 38.8193

GOVERNMENT SECURITIES: 36.47%8.13% GOI 2045 (MD 22/06/2045) 5.16%7.61% GOI 2030 (MD 09/05/2030) 5.10%7.59% GOI 2026 (MD 11/01/2026) 4.35%8.33% GOI 2026 (MD 09/07/2026) 3.62%8.97% GOI 2030 (MD 05/12/2030) 3.61%8.60% GOI 2028 (MD 02/06/2028) 3.47%8.83% GOI 2041 (MD 12/12/2041) 2.43%8.17% GOI 2044 (MD 01/12/2044) 2.05%8.67% State Developement -Maharashtra 2026 (MD 24/02/2026) 1.92%7.72% GOI 2025 (MD 25/05/2025) 1.89%Other Government Securities 2.86%


ASSET ALLOCATION

Rating Profile



8.91%

NCD54.62%

G-Secs36.47%

AAA

40.04%

AA

AA+AA-

7.08%

5.11%2.73%

Sovereign

45.04%


CORPORATE DEBT: 54.62%9.05% Reliance Industries Ltd NCD (MD 17/10/2028) 3.87%9.25% Reliance Jio Infocomm Limited NCD (MD 16/06/2024) 2.80%8.30% REC Ltd. NCD (MD 10/04/2025) 2.78%10.90% AU Small Finance Bank Limited NCD (MD 30/05/2025) 2.48%9.05 HDFC Ltd. NCD Series U-001 (MD 16/10/2028) 2.42%LIC Housing Finance Ltd. ZCB Opt-1 (MD 25/03/2021) 2.35%8.75% HDFC Ltd. NCD (04/03/2021)(Series P-002) (Put Opt 14/0) 2.26%9.24% LIC Housing Finance Ltd NCD (MD 30/09/2024) 2.23%9.55% Hindalco Industries Ltd. NCD (MD 27/06/2022) 2.20%8.00% Reliance Jio Infocomm Limited NCD (MD 16/04/2023) 2.18%Other Corporate Debt 29.05%

Asset held ̀ 1073.67 Cr as on 30th April 2019:


Debt1,073.67 (100%)

Fixed Interest BM

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Group Fixed Interest Fund 2 ULGF01728/11/11BSLGFXINT2109Fund Manager: Parin Vora | Total Experience: 18 years



Strategy:

The investment fund option with full exposure in debt market instrument, aims to achieve value creation at low risk over along-term horizon by investing into high quality fixed interest securities.

Active fund management at a medium level of risk by having entire exposure to government securities, corporate bonds maintaining medium to long-term duration of the portfolio to achieve capital conservation.

Know the Fund BetterExposure to 93.82% and MMI has slightly increased to 6.82% from 6.18% on a MOM basis. 100% of the fund remains invested in highest rated instruments.

G-Secs has slightly decreased to 93.18% from

Asset held ` 3.33 Cr as on 30th April 2019: Modified Duration: 4.62 yearsNAV as on 30th April 2019: ` 20.6052

GOVERNMENT SECURITIES: 93.18%8.20% GOI 2025 (MD 24/09/2025) 93.18%


ASSET ALLOCATION

Rating Profile



6.82%

G-Secs93.18%

Sovereign100.00%



Debt3.33 (100%)

FIF 2 BM

Documents

Group Fund Factsheet April 2019 - Life Insurance · d) Monsoon: India Meteorological Department (IMD) has forecasted a near-normal monsoon in 2019 (96% of long period average). Domestic