Enjoy dual benefits with our MIP Regular Income Capital Appreciation May, 2010 www.licmutual.com An Open-ended Income Scheme with no assured returns Investment Objective: The investment objective of the is to generate regular income by investing mainly in quality debt and money market instruments. It also seeks to generate capital appreciation in a long term by investing in equity /equity related instruments. Asset Allocation Pattern: Debt / Money Market: Upto 100%, Equity: Upto 15% Options: The scheme offers two options viz. Dividend and Growth. Under Dividend Option, the investor can choose either dividend payout or dividend reinvestment. Dividend Payout frequency is Monthly, Quarterly & Yearly Entry Load: Nil Exit Load: 1% if exit within 1 year from the date of allotment of units Sale Price: At applicable NAV declared on all Business Days Minimum Investment: Rs.5000/- and thereafter in multiples of Re.1/-.NAV Declaration: NAV calculated upto 4 decimal places and declared on all Business Days Liquidity: The scheme has no lock-in period. Units for repurchase will be available on an ongoing basis, on all Business Days except during book closure, if any. Benchmark: C MiPex Income Tax Benefit: Capital Gain Tax Benefits u/s 48 and 112 of Income Tax Act, 1961. Risk Factors : Mutual Fund and Securities Investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund will be achieved. As with any investment in securities and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the securities markets. Past performance of the Sponsor / AMC / Mutual Fund does not indicate the future performances of the schemes of the Mutual Fund. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Cr towards the setting up of the Mutual Fund. LICMF Monthly Income Plan is the name of the scheme and does not indicate either the quality of the scheme, its future prospects or returns. The NAV of the units of the scheme may be affected by changes in general level of interest rates. Please read the scheme information document carefully before investing. Statutory Details: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Company Ltd. is the Investment Manager to the Fund.
Statutory Details: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Co. Ltd. is the Investment Manager to the Fund. RISK FACTORS: Mutual Funds and Securities investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund will be achieved. As with any investment in stocks and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the securities markets. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Crore towards the setting up of the Mutual Fund. Past performance of the Sponsor/AMC/Mutual Fund does not indicate the future performance of the schemes of the Mutual Fund. The NAV of units of the scheme may be affected by changes in general level of interest rates. Please read the scheme information document carefully before investing.
Investment Manager:
PLACE ADDRESS LANDLINE MOBILE
AHMEDABAD Jeevan Sadan, 3rd Flr, LIC Bldg, Opp. Capital Commercial Center, 9328638838
Investment Objective: The investment objective of the is to generate regular income by investing mainly in quality debt and money market instruments. It also seeks to generate capital appreciation in a long term by investing in equity /equity related instruments. Asset Allocation Pattern: Debt / Money Market: Upto 100%, Equity: Upto 15% Options: The scheme offers two options viz. Dividend and Growth. Under Dividend Option, the investor can choose either dividend payout or dividend reinvestment. Dividend Payout frequency is Monthly, Quarterly & Yearly Entry Load: Nil Exit Load: 1% if exit within 1 year from the date of allotment of units Sale Price: At applicable NAV declared on all Business Days Minimum Investment: Rs.5000/- and thereafter in multiples of Re.1/-.NAV Declaration: NAV calculated upto 4 decimal places and declared on all Business Days Liquidity: The scheme has no lock-in period. Units for repurchase will be available on an ongoing basis, on all Business Days except during book closure, if any. Benchmark: C MiPex Income Tax Benefit: Capital Gain Tax Benefits u/s 48 and 112 of Income Tax Act, 1961.
Risk Factors : Mutual Fund and Securities Investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund will be achieved. As with any investment in securities and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the securities markets. Past performance of the Sponsor / AMC / Mutual Fund does not indicate the future performances of the schemes of the Mutual Fund. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Cr towards the setting up of the Mutual Fund. LICMF Monthly Income Plan is the name of the scheme and does not indicate either the quality of the scheme, its future prospects or returns. The NAV of the units of the scheme may be affected by changes in general level of interest rates. Please read the scheme information document carefully before investing. Statutory Details: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Company Ltd. is the Investment Manager to the Fund.
MUTUAL INTEREST2 15MUTUAL INTEREST
LICMF UNIT LINKED INSURANCE SCHEME An Open-ended Insurance linked Tax Saving Scheme
EQUITY PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30/04/2010) : Rs. Lakh11044.55
NAV (Rs.) as on 30/04/2010 : 9.7330
Last 1 year 26.54%Last 3 years 4.08%Since Inception 11.88%Benchmark (C BalanceEx) Return (Last 1 year) 33.62%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Holdings Rating Market Value(Rs. in Lakhs)
Equity BHARTI TELEVENTURE 746.00S B I 689.39L & T 619.21H D F C 507.94TATA POWER 507.13JAIPRAKASH ASSOCIATES 506.64B H E L 373.82R I L 361.38TATA TEA 308.82CIPLA 308.30SIEMENS 248.34POWER GRID CORPORATION OF INDIA 219.40O N G C 200.47RELIANCE COMMUNICATION 163.65TATA CONSULTANCY SERVICES 153.20G A I L 150.19N M D C 140.25TATA MOTORS 130.93G A C L 121.15JUBILANT ORGANOSYS 98.47PUNJAB NATIONAL BANK 83.02
TOTAL - EQUITY 6637.67
DEBT PORTFOLIO (as on 30/04/2010)
Holdings(Rs. in Lakhs)
Rating Market Value
DebtPUNJ LLOYD AA 1366.68DECCAN CHRONICLE AA 758.27SHRIRAM TRANSPORT FINANCE AA 232.33RELIANCE CAPITAL AAA 421.62
TOTAL - DEBT 2778.90
Commercial Paper 0.00
TOTAL - Commercial Paper 0.00
Cash ‘n’ Call, Current Assets & Receivables 1627.98
Avg. Maturity (in years) : 1.67
Avg. Duration (in years) : 1.50
PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 1524457.17
Bonds / DebenturesMUNDRA PORT & SEZ AA 27500.00RELIANCE CAPITAL AAA 15000.00WELSPUN GUJARAT STAHL ROHREN A+ 10570.00I C I C I BANK AAA 6016.00P F C AAA 2491.25RANBAXY HOLDING A1+ 50000.00ALOK INDUSTRIES PR1+ 30000.00JSW STEEL PR1+ 20000.00SIVA VENTURES PR1+ 20000.00VIDEOCON INDUSTRIES F1 20000.00BAJAJ HINDUSTAN F1 20000.00BHUSHAN POWER AND STEEL PR1 20000.00RELIANCE CAPITAL AAA 15000.00TRAPTI TRADING & INVESTMENT A1+ 11000.00ARCH PHARMALABS PR1+ 10000.00MUTHOOT FINANCE P1+ 10000.00BHUSHAN STEEL & STRIPS PR1 10000.00ICICI SECURITIES P1+ 10000.00MAGMA LEASING AA- 10000.00TGS INVESTMENT & TRADE A1+ 7500.00ARCH PHARMALABS F1 7500.00MAGMA FINCORP PR1+ 7500.00SHRIRAM TRANSPORT FINANCE AA 7500.00J K INDUSTRIES PR1 5000.00TURQUOISE INVESTMENT P1+ 5000.00DEWAN HOUSING FINANCE AA+ 5000.00GRABAL ALOK IMPEX PR1 5000.00ARCH PHARMALABS A1 4500.00MAGMA LEASING AA 4500.00COX AND KINGS PR1 2500.00JINDAL STEEL & POWER AA 2500.00FENNER INDIA P1 1000.00Commercial PaperINDIABULLS FINANCIAL SERVICES P1+ 56869.93RELIGARE FINVEST A1+ 56504.51RELIGARE SECURITIES P1+ 47897.12RELIANCE CAPITAL A1+ 47092.96MUNDRA PORT & SEZ A1+ 28441.52JAIPRAKASH ASSOCIATES PR1 28125.23ESSAR STEEL F1 28065.37DEWAN HOUSING FINANCE P1+ 19499.26ERA INFRA ENGINEERING PR1 18915.34BOMBAY RAYON FASHIONS PR1 18830.28H C C PR1+ 16560.86GAMMON PR1+ 9896.29TELEVISION EIGHTEEN A1+(SO) 9630.88ADLABS FILMS A1+ 9607.67RELIANCE MEDIA WORKS A1+ 9499.02EXIM P1+ 9469.70RELIANCE MEDIA WORKS A1 9457.12IL&FS INFRSTUCTURE LEASING A1+ 9444.31SAPOORJI PALLONJI A1+ 9435.43RELIANCE COMMUNICATION PR1+ 9416.32CHOLAMANDALAM DBS FINANCE A1+ 9413.28MERCATOR LINES PR1+ 9391.24FUTURE CAPITAL HOLDINGS PR1+ 9391.24BHUSHAN POWER AND STEEL F1+(SO) 9382.45TATA MOTORS FINANCE A1 9351.84KEC INTERNATIONAL A1 7177.36AFCONS INFRASTRUCTURE P1+ 4717.72ICICI SECURITIES P1+ 4717.72PATEL ENGINEERING PR1+ 4702.23TANTIA CONSTRUCTIONS PR1 4688.87BILT GRAPHIC PAPER F1+ 4667.23BHARAT HOTELS PR1+ 2817.37SP FABRICATORS P1 2810.79PHILIPS CARBON PR1+ 2474.68BHARAT FORGE A1+ 2440.49RAYMOND PR1+ 2439.84KEC INTERNATIONAL A1+ 2425.25PUNJ LLOYD PR1+ 2342.73J K PAPER A1 2317.43E I D PARRY P1+ 1895.11NATIONAL ENGINEERING INDUSTRIES LTD PR1+ 1461.74ELECON ENGINEERING COMPANY PR1+ 1330.49NRB BEARING P1+ 975.94Treasury BillGOI Tbill - 91 Days 11/06/2010 4966.59GOI Tbill - 91 Days 09/07/2010 2972.02C ertificate of DepositI D B I BANK A1+ 58119.96BANK OF BARODA A1+ 48273.60PUNJAB NATIONAL BANK PR1+ 25390.14
Avg. Maturity (in months) : 6.67Avg. Duration (in months) : 6.34
Expense Ratio (as at 30 ) : 2.2 % /04/2010 5
Last 1 year 5.29%Since Inception 7.69%Benchmark (C Fund ~ LX) Return - last 1 year 3.17%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
DIVIDEND DECLARED
BANK OF INDIA P1+ 23955.53YES BANK A1+ 21314.05INDIAN BANK F1+ 19749.60AXIS BANK P1+ 19428.02BANK OF INDIA A1+ 18924.18VIJAYA BANK PR1+ 16977.63KARNATAKA BANK A1+ 9682.09ANDHRA BANK F1+ 9607.98UNION BANK OF INDIA A1+ 9447.22H D F C BANK PR1+ 7094.57STATE BANK OF PATIALA A1+ 4900.92CENTRAL BANK OF INDIA PR1+ 4898.46ANDHRA BANK PR1+ 4891.92ORIENTAL BANK OF COMMERCE P1+ 4808.36
Cash ‘n’ Call, Current Assets & Receivables 270484.99
Money Mkt.14.74%
Debt 25.16%
.
Equity60.10%
Mutual Fund Investments are subject to market risks. Please read the scheme information document carefully before investing. Past performance may or may not be sustained in future.
AAA, AA+, P1+ or Equivalent63.55%
Money Market & Other18.26%
P1, , A+Equivalent 18.19%
AA-- or
Index funds are passive funds that replicate their benchmark indices.
Their expense ratio tends to be lower compared to the other fund types as
they are passively managed. The lower the difference between the fund
return and benchmark return the better is the fund tracking its
benchmark.
The table below shows the monthly average fund return vis-à-vis its
benchmark return over a period of 6 months.
Month Mthly AverageFund Benchmark Mthly
Return (%) Return (%)Rp Rb
LICMF Index Nifty TR Rp-RbFund - Nifty Plan Index
Oct-09 -0.3900 -0.3900 0.0000
Nov-09 0.3429 0.3349 0.0080
Dec-09 0.1639 0.1571 0.0068
Jan-10 -0.3269 -0.3280 0.0010
Feb-10 0.0524 0.0534 -0.0011
Mar-10 0.3258 0.3248 0.0010
The scheme has closely tracked its benchmark with an average gain of
0.0026 over six months period.
Investors can take exposure to LICMF Index Fund – Nifty Plan when the
medium to long term outlook on the market is good but volatility
continues in the short run. On one hand where the key indices have
witnessed a fall due the Greece Debt debacle, on the other hand there lies
a good opportunity to take exposure to passive funds on every fall.
Though, in the short-run, the capital markets world over have been
affected, in the long-run Indian market are poised for healthy upside due
to positive monsoon expectations, stronger results and better industry
demand that would drive the GDP to the forecasted level of above 8%.
A decent exposure to passively managed index funds with long-term
perspective is strongly recommended to investors. With the advantage of
diversification, it also spreads the excess volatility due to individual stock
movement.
Average Difference
LICMF INDEX FUND – NIFTY PLAN
MUTUAL INTEREST14 3MUTUAL INTEREST
LICMF GROWTH FUNDAn Open-ended SchemeGrowth
PORTFOLIO (as on 30/04/2010) PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 10197.91
Expense Ratio (as on 30 ) : %/04/2010 2.06
Last 1 year 60.25%Last 3 year 5.19%Since Inception 9.29%Benchmark (Sensex) Return - last 1 year 53.80%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Holdings Mkt. Value(Rs. Lakh)
Holdings Mkt. Value(Rs. Lakh)
EquityR I L 629.83S B I 609.72L & T 562.92I T C 522.15I C I C I BANK 484.76O N G C 464.24H D F C BANK 330.01B H E L 305.23RELIANCE INFRASTRUCTURE 261.30H D F C 239.86VOLTAS 208.78T I S C O 207.90S A I L 205.44BHARTI TELEVENTURE 201.42TATA MOTORS 170.21G A I L 158.03ORCHID CHEMICALS & PHARMACEUTICALS 157.85B E M L 157.08TATA CONSULTANCY SERVICES 153.20POWER TRADING CORPORATION OF INDIA 141.09WIPRO 134.70RANBAXY LABORATORIES 132.93DLF 124.50HUL 123.85INDIA CEMENTS 119.16A B B 118.73JAIPRAKASH ASSOCIATES 117.92IDEA CELLULAR 107.10JUBILANT ORGANOSYS 98.47M U L 89.58MERCATOR LINES 89.25SIEMENS 85.15TATA CHEMICALS 83.33BALARAMPUR CHINI MILLS LTD. 83.30PUNJ LLOYD 82.53I D B I 78.15KOTAK MAHINDRA BANK 77.47INFRASTRUCTURE DEVELOPMENT FINANCE 76.82M & M 70.23ADITYA BIRLA NUVO 69.90N T P C 69.38GRASIM INDUSTRIES 68.21INDIAN BANK 67.55STERLITE INDUSTRIES 66.28DR REDDYS LABORATORIES 63.11CIPLA 51.38PETRONET LNG 49.26NEYVELI LIGNITE CORPORATION 47.42H P C L 47.33SYNDICATE BANK 46.63PUNJAB NATIONAL BANK 45.66INFOSYS TECHNOLOGIES 45.06HINDALCO 44.48RELIGARE ENTERPRISES 41.67V S N L 41.50TATA POWER 40.65PRADIP OVERSEAS 40.43HERO HONDA MOTORS 38.10IVRCL INFRASTRUCTURES & PROJECTS 36.27NDTV Ltd 36.06S C I L 35.81IRB INFRASTRUCTURE DEVELOPERS 32.83RELIANCE COMMUNICATION 32.73SUN PHARMACEUTICALS 31.34H C L TECHNOLOGIES 30.72N M D C 29.84JINDAL STEEL & POWER 29.75MUNDRA PORT & SEZ 29.67ULTRA TECH CEMCO 29.17SUZLON ENERGY 27.58AREVA T & D INDIA 25.55AXIS BANK 25.36N H P C 22.54
(Past Performance may or may not be Sustained in Future)
PORTFOLIO (as on 30/04/2010)
Holdings Mkt. Value %
(Rs. Lakh) ContributionEquityR I L 289.10S B I 245.88I T C 237.13I C I C I BANK 209.11O N G C 200.47L & T 195.01RELIANCE INFRASTRUCTURE 170.42H D F C 169.31BHARTI TELEVENTURE 124.87TATA CONSULTANCY SERVICES 122.56H D F C BANK 119.50B H E L 112.14IDEA CELLULAR 110.16HUL 107.55T I S C O 96.53NDTV Ltd 81.98ADITYA BIRLA NUVO 71.23DLF 63.81M U L 63.58KOTAK MAHINDRA BANK 62.93RELIANCE COMMUNICATION 58.56WIPRO 57.25A B B 55.41CENTURY TEXTILES 55.30CONCOR 51.18V S N L 50.36JUBILANT ORGANOSYS 49.24TATA MOTORS 43.64INFRASTRUCTURE DEVELOPMENT FINANCE 42.68GRASIM INDUSTRIES 40.92DR REDDYS LABORATORIES 37.87M & M 36.83VOLTAS 36.14RANBAXY LABORATORIES 35.45G A I L 34.34S A I L 33.27STERLITE INDUSTRIES 33.14INDIA CEMENTS 31.40SUZLON ENERGY 31.03JAIPRAKASH ASSOCIATES 30.22JINDAL STEEL & POWER 29.75I O C L 29.47RELIGARE ENTERPRISES 29.16MUNDRA PORT & SEZ 21.51PUNJAB NATIONAL BANK 21.04BALARAMPUR CHINI MILLS LTD. 20.83HERO HONDA MOTORS 19.05I D B I 18.89UNITECH 16.98N M D C 14.92SYNDICATE BANK 13.99TATA POWER 13.55
Holdings Market Value(Rs. in Lakhs)
Last 1 year
Last 3 years 2.09%
Since Inception 8.46%
Benchmark (Sensex) Return Last 1 year 53.80
45.52%
%
ANNUALISED RETURNS
DIVIDEND HISTORYMonth Dividend
Oct-07 15.00%
NAV (Rs.) as on 30/04/2010: DIVIDEND: 10.8541; GROWTH: 12.2382
NAV (Rs.) as on 30/04/2010; Dividend: 9.8689; Growth: 27.5640
Money Mkt.6.50%
Equity93.50%
Money Mkt.5.89%
Equity94.11%
OIL INDIA 19.48UNITECH 16.98INDIAN HOTELS 14.05JET AIRWAYS (INDIA) 12.48A C C 9.06POWER GRID CORPORATION OF INDIA 8.68G A C L 5.15INDIABULLS POWER 4.77ELDER PHARMACEUTICALS 2.91Total Equity 9596.96Debt 0.00Total - Debt 0.00Commercial Paper / Bank Deposit 0.00Cash ‘n’ Call, Current Assets & Receivables 600.95
PRADIP OVERSEAS 12.94H P C L 12.62N H P C 10.20INDIABULLS POWER 5.12CIPLA 3.43Total Equity 3990.91Debt Total - Debt 0.00Commercial Paper / Bank Deposit 0.00Cash ‘n’ Call, Current Assets & Receivables 277.44
Market Review
DEBT MARKET
Liquidity was at ease and call rates were soft through out the period, on ample cash in the system. Call rates traded at 3.80/90 percent at the end of month. Liquidity stayed comfortable despite 25 basis points increase in CRR to 6 percent by RBI in the policy review last week.
Highlights of Reserve Bank's monetary policy for 2010-11:
Repo rate raised by 25 basis points from 5.0 per cent to 5.25 per cent.
Reverse repo rate raised by 25 basis points from 3.5 per cent to 3.75 per cent.
Cash reserve ratio (CRR) raised by 25 basis points from 5.75 per cent to 6.0 per cent.
Real GDP growth projection for kept at 2010-11 at 8.0 per cent with an upside bias.
The baseline projection for WPI inflation for March 2011 is placed at 5.5 per cent.
Money supply (M3) growth for 2010-11 is placed at 17.0 per cent.
The most traded 7.02 percent, 2016 bond closed at a yield of 7.55percent, at the end of month unchanged from previous close, on account of lower than expected cut offs for the new ten year bond at its scheduled auction. The yield of 7.02 percent 2016 was at 7.59% a month earlier.
The Headline inflation, as measured by the wholesale price index, rose 9.90 percent in March 2010, compared to 9.89 rise in February and as against 1.20 percent a year ago. The rise was mainly driven by higher fuel and food prices. In the month of March, food articles and fuel price index rose by 16.65 percent and 12.71 percent respectively. Consumer price index (CPI) rose 14.86 percent in March.
We expect interest rates to holds steady in the medium term given ample liquidity in the system. By raising the policy rates RBI has signaled a heavy shift in its monetary stance to contain inflation. However with demand side pressure increasing and corporate rediscovering purchasing power, going forward maintaining price stability will be a huge challenge for RBI.
EQUITY REVIEW
The Corporate Results for the FY10, Monetary Policy by Reserve Bank Of India guiding the interest rates movement and financial market in turn, and global cues like the escalation of the crisis in Greek were the deciding factors in the first month of new financial year.
The Benchmark indices Sensex and Nifty crossed their psychological levels of 18000 and 5350 on 07/04/2010 and posted a ninth straight weekly gain in the 1st week of April. The BSE Sensex fell 341.96 points or
nd1.91% to 17,591.18 in the 2 week of April. The S&P CNX Nifty lost 99.15 points or 1.84% to 5262.60 in the week with lot of profit booking seen in the index stocks. With RBI's less than expected interest rates hike, row over ULIP between SEBI and IRDA, mix corporate results and week global cues resulted in Indian Equity markets closing flat for the month end. The BSE Sensex closed at 17558.71 and S&P CNX Nifty closed at 5278 registering the growth of 0.18% and 0.55% respectively in the month of April 2010.
Sectoral indices performance –
The consumer durables, real estate banking indices were the out performers during the month by registering a growth of 10.06%, 6.65% and 4.72% respectively. The mid-cap and small-cap indices also posted a healthy rise of 8.35% and 5.56% respectively.
The OIL and metal indices were the worst performer in this moth. The capital goods, metal and oil indices posted a negative growth of .38%, 1.72% and 2.32% respectively.
Result Analysis:
The Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 660 companies rose 25.8% to Rs 33470 crore on 32.5% rise in sales to Rs 302678 crore in the quarter ended March 2010 over the quarter ended March 2009. (source; Capitalmarket)
The heavyweight RIL could not post the expected results. However, the ICICI bank, HDFC Bank, BHEL and other auto stocks in index posted good results.
Primary markets:
The government on Thursday, 29 April 2010, kicked off its disinvestment programme for the fiscal year March 2011 with the initial public offering (IPO) of the state-run SJVN whereby the Government decided to offload 10% of its stake in the company. The issue size was Rs.41.50 crore and got subscribed 6.64 times.
Institutional activities:
Foreign institutional investors (FIIs), one of the largest categories of investors in the local equity markets, inveted Rs.9361.30 crore in April 2010 and they have bought Indian stocks worth $6646.40 million (Rs30005.80 crore) in 2010 till date, the highest in the first four months of a year since they were allowed entry into the country in 1992.
The domestic Mutual Funds were the net sellers in the equity market to the tune of Rs.1715.20 crore.
Economic Envirornment:
1. Inflation:The food price index rose 16.61% in the 12 months to April 17, lower than an annual rise of 17.65% in the previous week. The fuel price index rose an annual 12.69% marginally higher than the previous week's reading of 12.45%. the wholesale price inflation in March touched a 17-month high of 9.9%
2. Core Sector Growth:The India's infrastructure sector that constitute 26.68% of India's Industrial output, grew 7.2% in March against 3.3% in March 2009, where as 5.5% for the FY10 against 3% a year ago.
3. India's industrial production grew at 15.1% in February over a year ago, and is seen at around the same level in March.
4. Monetary Policy: The Reserve Bank of India in its Monetary Policy for FY11.The Highlights of the policy are -
a. Hike in the CRR and Repo and Reverse Repo by 25 bps to 6%, 5.25% and 3.75% respectively.
b. Bank rate retained at 6%.
c. CRR hike to suck out Rs 12,500-crore liquidity.
d. Economic growth projection seen at 8% for 2010-11
e. FY'10 GDP growth seen at 7.2-7.5%.
f. Inflation pegged at 5.5% for 2010-11
g. Quarterly policy review on July 27, 2010
h. RBI targets inflation at 3 pc in medium term
i. RBI to closely monitor price situation
j. Demand side pressures building up in economy
k. Lower policy rates can impair inflationary expectations
l. Policy to be aligned with evolving state of economy
m. RBI proposes to introduce some Interest Rate futures
n. To prepare discussion paper on foreign banks by September
5. Rupee appreciated by 1.23% in a month closing at Rs.44.25 a dollar.
6. Crude Oil prices have gone up to $86.15 rising 2.85% in a month.
7. The Indian Meteorological department (IMD) expects normal rainfall in the June-September monsoon season this year and is likely to be 98% of the long-term average.
OUTLOOK
In its half-yearly World Economic Outlook, the International Monetary Fund (IMF) has pegged India's GDP growth at 8.75% in calendar 2010 and 8.5% in calendar 2011. According to the IMF, domestic demand in India will strengthen as the labour market improves, and investment is expected to be boosted by strong corporate profitability, rising business confidence and favourable financing conditions. The expected normal monsoon will lead to increase in rural income and fall in food inflation. The world markets are now cautious due to the issues in Europeon countries (PIGS) viz. Portugal, Ireland, Greece and Spain. Though the EU counties issues do not have direct impact on Indian Stock market, the sentiments and FII flow will be affected in the short term. However, the long to mid term outlook of Indian equity market seem to be positive.
13MUTUAL INTERESTMUTUAL INTEREST4
LICMF INDEX FUNDAn Open-ended Index Linked Equity Scheme
EquityR I L 933.31INFOSYS TECHNOLOGIES 703.57I C I C I BANK 566.21L & T 519.43H D F C 380.61H D F C BANK 372.06I T C 369.83S B I 316.32B H E L 210.32TATA CONSULTANCY SERVICES 205.34T I S C O 201.52BHARTI TELEVENTURE 194.78O N G C 190.30STERLITE INDUSTRIES 178.56AXIS BANK 167.68JINDAL STEEL & POWER 152.90HUL 134.17TATA MOTORS 133.38HINDALCO 124.14TATA POWER 118.01M & M 117.24WIPRO 106.44G A I L 102.64N T P C 96.22CIPLA 92.89HERO HONDA MOTORS 91.35M U L 90.60JAIPRAKASH ASSOCIATES 90.30RELIANCE INFRASTRUCTURE 85.57INFRASTRUCTURE DEVELOPMENT FINANCE 85.37PUNJAB NATIONAL BANK 73.44CAIRN INDIA 72.63S A I L 67.68KOTAK MAHINDRA BANK 63.32SUN PHARMACEUTICALS 63.12UNITECH 61.13DLF 60.75RELIANCE COMMUNICATION 59.00SIEMENS 57.41IDEA CELLULAR 54.87G A C L 52.93A C C 48.80RELIANCE CAPITAL 45.38H C L TECHNOLOGIES 45.19A B B 43.34RANBAXY LABORATORIES 36.42B P C L 35.72POWER GRID CORPORATION OF INDIA 34.37RELIANCE POWER LTD 31.18SUZLON ENERGY 27.08Total Equity 8164.81Cash ‘n’ Call, Current Assets & Receivables 13.45
NIFTY PLAN - PORTFOLIO (as on 30 )/04/2010
TOTAL FUND (as on 30/04/2010) : Rs. 8178.26 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 10.7132; Growth: 29.0398
Last 6 months 24.76%Last 1 year 46.37%Last 3 years 5.11%Since Inception 15.47%Benchmark NSE - Nifty Return (Last 6 months) 25.56%Benchmark NSE - Nifty Return (Last 1 year) 51.76%
ANNUALISED RETURNS
Equity R I L 423.72INFOSYS TECHNOLOGIES 334.71I C I C I BANK 265.65L & T 218.54H D F C BANK 182.79H D F C 182.61I T C 177.22S B I 164.85O N G C 113.41TATA CONSULTANCY SERVICES 112.82B H E L 107.04BHARTI TELEVENTURE 99.68T I S C O 96.31N T P C 86.60STERLITE INDUSTRIES 78.82HUL 65.41TATA MOTORS 62.84HINDALCO 60.05M & M 57.36TATA POWER 56.53
SENSEX PLAN PORTFOLIO (as on 30/04/2010)
Holdings Mkt. Value (Rs. lakhs)
SENSEX PLAN PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 3339.50
NAV (Rs.) as on 30/04/2010: Dividend: 11.1704; Growth: 32.5988
Expense Ratio (as on 30 ) : 1.35%/04/2010
Last 6 months 21.03%Last 1 years 49.35%Last 3 years 4.23%Since Inception 17.28%Benchmark BSE - Sensex Return (Last 6 months) 22.08%Benchmark BSE - Sensex Return (Last 1 years) 53.80%
(Past Performance may or may not be Sustained in Future)
(Past Performance may or may not be Sustained in Future)
Holdings Mkt. Value (Rs. lakhs)
Holdings Mkt. Value (Rs. lakhs)
TOTAL FUND (as on 30/04/2010) : Rs. 527.33 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 10.8680; Growth: 30.7180
Expense Ratio (as on 30/04/2010) : 1.50%
Last 1 yearLast 3 years 2.86%Since Inception 16.35%Benchmark BSE - Sensex Return (Last 1 year) 53.80
52.83%
%
ANNUALISED RETURNS
DIVIDEND HISTORY
(Past Performance may or may not be Sustained in Future)
Holdings Mkt. Value (Rs. lakhs)EqutiyR I L 61.98INFOSYS TECHNOLOGIES 47.80I C I C I BANK 37.19L & T 28.87H D F C 25.59I T C 25.18H D F C BANK 25.15S B I 18.04O N G C 16.44B H E L 15.33BHARTI TELEVENTURE 14.60NDTV Ltd 14.42TATA CONSULTANCY SERVICES 13.41T I S C O 13.38G A I L 12.87STERLITE INDUSTRIES 10.86H P C L 9.47HUL 9.34N T P C 9.17JAIPRAKASH ASSOCIATES 8.55TATA POWER 8.21M & M 7.77TATA MOTORS 7.54WIPRO 7.10UNITECH 6.79HERO HONDA MOTORS 6.72M U L 6.53GRASIM INDUSTRIES 6.52HINDALCO 6.46INFRASTRUCTURE DEVELOPMENT FINANCE 5.12SUN PHARMACEUTICALS 4.72RELIANCE INFRASTRUCTURE 4.67DLF 4.65RELIANCE COMMUNICATION 4.36A C C 3.33ADITYA BIRLA NUVO 3.29Total Equity 511.42Cash ‘n’ Call, Current Assets & Receivables 15.91
WIPRO 49.72HERO HONDA MOTORS 47.80GRASIM INDUSTRIES 47.04M U L 46.30JAIPRAKASH ASSOCIATES 43.30RELIANCE INFRASTRUCTURE 41.49DLF 33.04SUN PHARMACEUTICALS 32.67RELIANCE COMMUNICATION 29.78A C C 23.38Total Equity 3341.47Cash ‘n’ Call, Current Assets & Receivables -1.97
SCHEMES
26th March 99
To generate attractive returns for our investors by investing in quality debt securities and money market instruments.
Debt
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Quarterly
15th November 99
To generate steady and consistent returns for our investors by timing the government securities market.
Debt - Gilt
PF / Regular
Dividend / Growth
Nil
1% if exit within 1 year
Regular Plan: Rs. 5,000/-PF Plan: Rs. 10000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Quarterly
26th September 01
To generate long term capital appreciation through judicious mix of quality debt & equity instrument at moderate risk levels through research based investments.
Balanced
Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
29th May 03
To generate income by investing in a portfolio of quality short term debt securities.
Debt - Short Term
Dividend / Growth
Nil
Nil
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Monthly / Daily / Weekly
Bond Fund G-Sec Fund Savings Plus Fund Children’s Fund
11th March 02
To generate reasonable returns with low risk and high liquidity through judicious mix of investment in money market and quality debt instruments
Debt - Liquid
Dividend / Growth
Nil
Nil
Rs. 25000/-
Redemption on all business days
On all days
STP
Available
Daily
1st June / 03
To generate regular income by investing mainly in quality debt and money market instruments with some portion in equity/equity related instruments for long term capital appreciation.
Debt
Monthly Div./Quarterly Div. Yearly Div./Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Monthly / Quarterly / Yearly
15th March 2004
To generate consistent returns by investing mainly in floating rate instruments/fixed rate instruments swapped for floating rate return so as to minimise the interest rate risk for the investor.
Debt - Floating
Dividend / Growth
Nil
Nil
Rs. 5,000/- and thereafter in multiples of Rs. 500/-.
Redemption on all business days
On all days
SIP / SWP / STP / AWOCA
Available
Daily / Weekly
19th June 89
To generate long term capital appreciation and offer Tax rebate u/s 80 C as well as additional benefits of a life & insurance cover free accident insurance cover.
Insurance linked tax saving
Single Premium-5/10 year termRegular Contribution-10/15 year term
Dividend Re-investment
Nil
Nil
Rs. 10000/- under Single Premium Rs. 1000/- under Regular Premium- yearly option, Rs. 100/- under Regular Premium - monthly option
Redemption on all business days
On all business days
SIP / STP
Available
As and when available
Liquid Fund Monthly Income Plan Unit Linked Insurance Scheme Floating Rate Fund - STP
EquityR I L 624.66I T C 351.81I C I C I BANK 313.67L & T 305.59O N G C 263.78H D F C 253.97RELIANCE INFRASTRUCTURE 227.22H D F C BANK 209.12BHARTI TELEVENTURE 208.88S B I 206.82B H E L 174.45T I S C O 167.08JAIPRAKASH ASSOCIATES 165.83PETRONET LNG 150.08INFRASTRUCTURE DEVELOPMENT FINANCE 136.56POWER TRADING CORPORATION OF INDIA 125.22IDEA CELLULAR 122.40RELIANCE COMMUNICATION 112.92HUL 107.55NDTV Ltd 102.17JUBILANT ORGANOSYS 98.47I O C L 88.40STERLITE INDUSTRIES 82.85POWER GRID CORPORATION OF INDIA 76.79TATA CONSULTANCY SERVICES 76.60KOTAK MAHINDRA BANK 73.78JINDAL STEEL & POWER 66.93S A I L 62.96INDIA CEMENTS 62.80V S N L 62.32ADITYA BIRLA NUVO 58.73GRASIM INDUSTRIES 54.57TATA POWER 54.20TATA MOTORS 52.37WIPRO 52.20ABAN OFFSHORE 50.87M U L 49.82RANBAXY LABORATORIES 48.74H P C L 47.33A C C 45.31H C L TECHNOLOGIES 39.43AXIS BANK 38.05DR REDDYS LABORATORIES 37.87HINDALCO 35.58INDIAN HOTELS 34.59SUZLON ENERGY 34.48PUNJ LLOYD 33.01A B B 31.66
An Open-ended Equity Scheme
PORTFOLIO (as on 30/04/2010) PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 10289.36
NAV (Rs.) as on 30/04/2010: Dividend: 9.9168; Growth: 25.1675
Expense Ratio (as on 30 ) : %/04/2010 2.08
Holdings Mkt. Value(Rs. Lakh)
Holdings Mkt. Value(Rs. Lakh)
Equity R I L 916.34I C I C I BANK 513.27L & T 498.59I T C 477.09JAIPRAKASH ASSOCIATES 460.63B H E L 423.66S B I 413.63H D F C 409.18RELIANCE INFRASTRUCTURE 401.07O N G C 397.03KOTAK MAHINDRA BANK 332.01BHARTI TELEVENTURE 277.51I F C I 265.25H D F C BANK 258.91PETRONET LNG 254.92N T P C 244.18TATA CONSULTANCY SERVICES 229.80IDEA CELLULAR 183.60I O C L 176.79WIPRO 140.09V S N L 138.53DLF 124.50TATA MOTORS 112.98S A I L 107.09HUL 105.16A B B 102.96JUBILANT ORGANOSYS 98.47GRASIM INDUSTRIES 95.49M U L 95.09TATA POWER 86.88STERLITE INDUSTRIES 82.85POWER GRID CORPORATION OF INDIA 82.01T I S C O 74.26INFRASTRUCTURE DEVELOPMENT FINANCE 68.28UNITECH 67.92SIEMENS 64.26ADITYA BIRLA NUVO 63.74H P C L 63.11DR REDDYS LABORATORIES 63.11H C L TECHNOLOGIES 57.21I D B I 56.68G A I L 55.78INFOSYS TECHNOLOGIES 54.72PUNJAB NATIONAL BANK 51.89HINDALCO 47.65VOLTAS 45.18INDIAN BANK 45.03RANBAXY LABORATORIES 44.31RELIGARE ENTERPRISES 42.05PUNJ LLOYD 41.26PRADIP OVERSEAS 40.43AXIS BANK 38.05JINDAL STEEL & POWER 37.19N M D C 29.84MERCATOR LINES 29.75
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Last 1 year 51.92%Last 3 years 6.51%Since Inception 9.81%Benchmark (Sensex) Return Last 1 year 53.80%
I D B I 31.49PUNJAB NATIONAL BANK 31.13N M D C 29.84M & M 28.94HERO HONDA MOTORS 28.57UNITECH 25.47N H P C 22.54G A I L 21.46BALARAMPUR CHINI MILLS LTD. 20.83SUN PHARMACEUTICALS 15.67SYNDICATE BANK 13.99CIPLA 10.41INDIABULLS POWER 9.27OIL INDIA 8.27AREVA T & D INDIA 4.13Total - Equity 6182.42Debt 0.00Total - Debt 0.00Cash ‘n’ Call, Current Assets & Receivables 258.29
SUZLON ENERGY 27.58M & M 26.31NDTV Ltd 24.04N H P C 24.02MUNDRA PORT & SEZ 22.25OIL INDIA 19.48HERO HONDA MOTORS 19.05A C C 18.12CIPLA 17.13RELIANCE COMMUNICATION 16.37INDIAN HOTELS 13.73G A C L 7.27INDIABULLS POWER 4.77SYNDICATE BANK 1.77Total - Equity 9929.10Debt 0.00Total Debt 0.00Cash ‘n’ Call, Current Assets & Receivables 360.26
SNAPSHOT
31st January 2005
The investment objective of the scheme is to provide capital growth in long-term with reasonable risk levels by investing mainly in companies which are in sector/s, which have a high growth potential at that point to time.
Equity - Diversified
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
1st January 1997
To provide capital growth alongwith tax rebate and tax relief u/s 80 C to our investors through Prudent Investments in the stock market.
ELSS
Dividend / Growth
Nil
Nil
Rs. 500/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
21st September 2004
The investment objective of the scheme is to generate regular income by investing mainly in floating rate instruments / fixed rate instruments swapped for floating rate return so as to minimise the interest rate risk and at the same time aiming at generating capital appreciation in a long term by investing in equity / equity related instruments.
To provide capitalgrowth by investing in index stocks.
Equity - Index
Sensex / Nifty / Sensex Advantage
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 2000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
16th April 98
To obtain maximum possible maximum possible growth consistent with reasonable levels of safety and security by investing mainly in equities.
Equity - Diversified
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 2000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
1st January 91
To provide regular returns & capital appreciation according to the slection of the plan by investing in equities & debt.
Balanced
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 1000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
Index Fund Growth Fund Balanced Fund Equity Fund
Opportunities Fund Tax Plan Floater MIP
SIP: Systematic Investment Plan; SWP: Systematic Withdrawal Plan; STP: Systematic Transfer Plan; AWOCA: Automatic Withdrawal of Capital AppreciationNote : SWP & AWOCA are available under growth options only.
1st September 99
To provide capital growth by investing in a mix of equity instruments.
Equity - Diversified
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 2000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
Income Plus Fund
28th May 2007
To provide reasonable possible current income - consistent with preservation of capital & providing liquidity from investing in a diversified portfolio of Short-Term Money Market & Debt securities.
Debt
Dividend Frequency :Daily / Weekly / Monthly
Dividend / Growth
Nil
Nil
Rs. 5,00,000/-
Redemption on all business days
On all business days
STP
Available
Daily / Weekly / Monthly
Money Mkt.3.50%
Equity96.50%
MUTUAL INTEREST6 11MUTUAL INTEREST
LICMF BOND FUNDAn Open-ended Debt Scheme
PORTFOLIO (as on 30 )/04/2010
TOTAL FUND (as on 30/04/2010) : Rs. 9525.91 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 10.7091; Growth: 26.2235
DIVIDEND HISTORY
Last 1 yearLast 3 years 9.25%Since inception (09.05.1999) 9.03%
Benchmark (C CompBex) Return (Last 1 year) 3.26
1.96%
%
ANNUALISED RETURNS
PORTFOLIO RATING ANALYSIS
Month Gross Div. (%) Month Gross Div. (%)
(Past Performance may or may not be Sustained in Future)
DEBT
PUNJ LLOYD AA 1265.63
I R F C AAA 1119.60
I O C L AA+ 1052.90
I C I C I BANK AAA 800.00
S A I L AAA(SO) 524.46
H U D C O AA 522.14
JET AIRWAYS (JUS TRUST PTC) AAA(SO) 293.13
SHRIRAM TRANSPORT FINANCE AA 10.94
DEVELOMENT CREDIT BANK A- 1179.95
R E C AAA 1104.91
BOB HOUSING FINANCE(PTC NHB) AAA(SO) 28.03
ANDHRA BANK PTC (NHB) AAA(SO) 7.02
COMMERCIAL PAPER/ BANK DEPOSIT
Cash ‘n’ Call, Current Assets & Receivables 1617.20
Holdings Rating Mkt. Value(Rs.Lakhs)
LICMF G-SEC FUNDAn Open-ended Gilt Scheme
PORTFOLIO (as on 30/04/2010)
GOI T Bill - 91 Days 11/06/2010 2476.93
GOI T Bill - 91 Days 9/07/2010 1981.35
Commercial Paper / Bank Deposit
Cash ‘n’ Call, Current Assets & Receivables 7803.39
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 12261.67
Last 1 year
Last 3 years 4.73%
Since inception (29.11.1999) 7.75%
Benchmark (I Sec Composite Gilt) Return
Last 1 year 1.15%
-4.66%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
NAV (Rs.) as on 30/04/2010Reg.: 10.1700 Reg.Gr.: 21.8597;
PF-Div. 12.0539; PF-Gr. : 12.6053
Securities Rating Mkt. Value (Rs. Lakhs) DIVIDEND HISTORY
EquityBHARTI TELEVENTURE 283.48JYOTI STRUCTURES LTD. 229.20RANBAXY LABORATORIES 218.69G A C L 181.73HUL 179.25L & T 160.84RELIANCE COMMUNICATION 142.51POWER TRADING CORPORATION OF INDIA 136.98HINDALCO 106.74I D B I 100.76YES BANK 85.65H C L TECHNOLOGIES 78.85POWER GRID CORPORATION OF INDIA 71.31INFRASTRUCTURE DEVELOPMENT FINANCE 51.21JAIPRAKASH ASSOCIATES 29.48
Total Equity 2056.67
LICMF CHILDREN’S FUNDAn Open-ended Balanced Scheme for Children
TOTAL FUND (as on 30/04/2010) : Rs. Lakh695.22
NAV (Rs.) as on 30/04/2010 : 10.5238
Last 1 year
Last 3 years -11.64%
Since inception (12/11/2001) 0.60%
Benchmark ) Return Last 1 year 33.62
36.99%
(C BalanceEx %
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Expense Ratio (as on 30/04/2010) : 2.24%
PORTFOLIO (as on 30/04/2010)
Equity
R I L 61.95
I F C I 53.05
RELIANCE INFRASTRUCTURE 45.44
JAIPRAKASH ASSOCIATES 44.22
ADLABS FILMS 37.89
RELIANCE CAPITAL 36.95
RELIANCE COMMUNICATION 6.55
Total Equity 286.05
Debt
SHRIRAM TRANSPORT FINANCE AA 98.42
PUNJ LLOYD AA 98.30
Total Debt 196.72
Commercial Paper/ Bank Deposits
Cash ‘n’ Call, Current Assets & Receivables 212.46
Holdings Rating Mkt. Value (Rs. lakhs) Avg. Maturity (in month) : 1.73
Avg. Duration (in month) : 1.56
Money Mkt.20.67%
Money Mkt.30.56%
Debt 7.56%
.
Debt 28.30%
.
Equity71.77%
Equity41.14%
LICMF FLOATING RATE FUND - STPAn Open-ended Income Fund
PORTFOLIO (as on 30 )/04/2010
TOTAL FUND (as on 30/04/2010) : Rs. 521344.24 Lakhs
LICMF SAVINGS PLUS FUND(An open-ended income scheme)
PORTFOLIO (as on 30 )/04/2010
Debt Instruments MUNDRA PORT & SEZ AA 22500I R F C AAA 5163.174WELSPUN GUJARAT STAHL ROHREN A+ 1230RANBAXY HOLDING A1+ 50000BHUSHAN STEEL & STRIPS PR1 30000VIDEOCON INDUSTRIES F1 20000BHUSHAN POWER AND STEEL PR1 20000BHUSHAN STEEL PR1 20000JSW STEEL PR1+ 20000ALOK INDUSTRIES PR1+ 20000TRAPTI TRADING & INVESTMENT A1+ 16500TGS INVESTMENT & TRADE A1+ 15000RELIANCE CAPITAL AAA 15000ICICI SECURITIES P1+ 10000OSCAR INVESTMENTS A1+ 10000SIVA VENTURES PR1+ 10000AMTEK AUTO PR1+ 10000JINDAL STEEL & POWER AA 5000BIRLA TMT HOLDING P1+ 5000SUNDARAM FINANCE A1+ 5000DECCAN CHRONICLE PR1+ 5000JAIPRAKASH ASSOCIATES PR1 4000NAMAN FINANCE AND INVESTMENT A1+ 3000ARCH PHARMALABS F1 2500COX AND KINGS PR1 2500COX AND KINGS PR1+ 2000MAGMA LEASING AA 1300Commercial PaperINDIABULLS FINANCIAL SERVICES P1+ 56869.93RELIGARE FINVEST A1+ 47205.41RELIANCE CAPITAL A1+ 37679.68RELIGARE SECURITIES P1+ 28790.46RELIANCE MEDIA WORKS A1+ 19106.69MUNDRA PORT & SEZ A1+ 18960.06ERA INFRA ENGINEERING PR1 18915.34JAIPRAKASH ASSOCIATES PR1 18738.6DEWAN HOUSING FINANCE P1+ 17549.334TATA MOTORS FINANCE A1 9819.4778RELIANCE SECURITIES A1+(SO) 9526.1109IL & FS FINANCIAL SERVICES A1+ 9444.31BOMBAY RAYON FASHIONS PR1 9433.96FUTURE CAPITAL HOLDINGS PR1+ 9413.28BHUSHAN POWER AND STEEL F1+(SO) 9382.45BILT GRAPHIC PAPER F1+ 9347.47ESSAR SHIPPING PORTS & LOGISTICS PR1 8650.3054H C C PR1+ 6828.9525ICICI SECURITIES P1+ 6133.0295IL & FS FINANCIAL SERVICES PR1+ 4733.13RELIANCE MEDIA WORKS A1 4728.56MAGMA FINCORP PR1+ 4684.65BALLARPUR INDUSTRIES F1+ 4652.05ESSAR STEEL F1 4652.05TELEVISION EIGHTEEN A1+ 2833.119BHARAT FORGE A1+ 2442.7775KEC INTERNATIONAL A1 2437.9175NATIONAL ENGINEERING INDUSTRIES LTD PR1+ 2437.745AMALGMATED BEAN COFEE TRADING CO. PR1+ 985.462KEC INTERNATIONAL A1+ 973.879Certificate of DepositsAXIS BANK P1+ 53940.956I D B I BANK A1+ 45213.3325BANK OF INDIA P1+ 35811.5625ANDHRA BANK PR1+ 33972.57BANK OF BARODA A1+ 29041.64PUNJAB NATIONAL BANK PR1+ 23426.064VYSYA BANK P1+ 9833.8UCO BANK P1+ 9814.81ORIENTAL BANK OF COMMERCE P1+ 9624ANDHRA BANK F1+ 9607.98CORPORATION BANK P1+ 7361.565VIJAYA BANK PR1+ 7113.6225STATE BANK OF PATIALA A1+ 4818.025Bank DepositCENTRAL BANK OF INDIA 200000
Cash ‘n’ Call, Current Assets & Receivables -126794.342
TOTAL FUND (as on 30/04/2010) : Rs. Lakh1070834.95
Last 1 yearLast 3 years 6.90%Since Inception 5.73%
Benchmark (C Fund ~LX) Return 3.17%
5.43%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
EquityM & M 157.83BHARTI TELEVENTURE 149.20CIPLA 143.89L & T 135.10S B I 114.90APOLLO TYRES 104.33H D F C BANK 99.58ZEE TELEFILMS 91.07RANBAXY LABORATORIES 88.62UNITECH 84.90CAIRN INDIA 83.10TATA CONSULTANCY SERVICES 76.60SIEMENS 70.96POWER GRID CORPORATION OF INDIA 49.37IDEA CELLULAR 45.90POWER TRADING CORPORATION OF INDIA 45.66HINDALCO 44.48INFRASTRUCTURE DEVELOPMENT FINANCE 42.68RELIANCE COMMUNICATION 32.73Bond/DebentureWELSPUN GUJARAT STAHL ROHREN A+ 1200.00DECCAN CHRONICLE AA 866.69PUNJ LLOYD AA 794.55SHRIRAM TRANSPORT FINANCE AA 667.06MUNDRA PORT & SEZ AA 500.00GSEC 6.05% 02/02/2019 SOVEREIGN 393.08RELIANCE CAPITAL AAA 300.00MAGMA LEASING AA 1200.00RELIANCE CAPITAL AAA 1159.45Commercial paper 0.00Bank Deposits 0.00
Cash ‘n’ Call, Current Assets & Receivables 2807.64
TOTAL FUND (as on 30 ) : Rs. Lakhs/04/2010 11549.34
DIVIDEND HISTORY
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
NAV (Rs.) as on 30/04/2010
Monthly Income : 10.1845; Yearly Income : 10.3555;
;Quarterly : 10.2899 Growth : 17.3819
Holdings Rating Mkt. Value (Rs. lakhs)
Expense Ratio (as on 30 ) : %/04/2010 1.44
Avg. Maturity (in ) :
Avg. Duration (in month) : 18.79
month 20.87
LICMF INFRASTRUCTURE FUNDA 36 months Close ended Equity Fund with an automatic conversion into
an Open ended scheme on expiry of 36 months from the date of allotment (24/03/2008).
TOTAL FUND (as on 30/04/2010) : Rs. 23143.22 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 9.4500; Growth: 9.4500
PORTFOLIO (as on 30/04/2010)
EquityR I L 1744.93L & T 1704.85B H E L 1223.62H D F C 1164.63I C I C I BANK 988.52O N G C 969.55JAIPRAKASH ASSOCIATES 886.24INDIA CEMENTS 797.56S B I 792.79BHARTI TELEVENTURE 665.43INFRASTRUCTURE DEVELOPMENT FINANCE 647.12RELIANCE INFRASTRUCTURE 624.86IDEA CELLULAR 610.93JINDAL STEEL & POWER 594.96H D F C BANK 517.32G A I L 517.07UNITECH 509.40S A I L 441.23A B B 440.34DLF 373.50STERLITE INDUSTRIES 331.38T I S C O 303.21GAMMON INDIA 258.41CENTURY TEXTILES 253.63TATA POWER 240.45H P C L 230.39M U L 221.15AREVA T & D INDIA 218.35GRASIM INDUSTRIES 218.26A C C 214.93PUNJ LLOYD 211.94IVRCL INFRASTRUCTURES & PROJECTS 208.10V S N L 198.71VOLTAS 180.70INDIAN HOTELS 162.69N T P C 162.54M & M 157.83TATA MOTORS 157.11
Holdings Mkt. Value (Rs. lakhs)
PORTFOLIO (as on 30/04/2010)
Holdings Mkt. Value (Rs. Lakhs)
Expense Ratio (as on 30/04/2010) : 2.33%
Last 1 yearSince Inception -2.66%Benchmark (BSE 100) Return - Last 1 year 61.39%
48.15%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Last 1 year 14.30%Last 3 years 10.52%Since Inception 10.52%Benchmark (C MiPex) Return - last 1 year 9.93%
I D B I 146.55S C I L 143.55POWER GRID CORPORATION OF INDIA 136.37SIEMENS 131.61RELIANCE COMMUNICATION 118.93I O C L 118.83KOTAK MAHINDRA BANK 110.67SUZLON ENERGY 96.53INDIAN BANK 90.06NALCO 82.02MERCATOR LINES 76.14NEYVELI LIGNITE CORPORATION 74.06N H P C 71.61MADRAS CEMENT 70.92MUNDRA PORT & SEZ 68.89GVK POWER & INFRASTRUCTURE 67.88GMR INFRASTRUCTURE 66.60SYNDICATE BANK 65.28ULTRA TECH CEMCO 58.74HINDALCO 55.03OIL INDIA 53.13PUNJAB NATIONAL BANK 51.89N M D C 44.76RANBAXY LABORATORIES 44.31HERO HONDA MOTORS 38.10INDIABULLS POWER 10.86IRB INFRASTRUCTURE DEVELOPERS 8.82Total - Equity 22246.75Debt 0.00TOTAL - DEBT 0.00Commercial Paper / Bank Deposits 0.00Cash ‘n’ Call, Current Assets & Receivables 896.47
Month Frequency Gross Div.(Rs/Unit)
Month Frequency Gross Div.(Rs/Unit)
Month Frequency Gross Div.(Rs/Unit)
LICMF MONTHLY INCOME PLANAn Open-ended Monthly Income Scheme w.e.f. 01/06/2003
EQUITY PORTFOLIO (as on 30/04/2010)
DEBT PORTFOLIO (as on 30/04/2010)
Debt MUNDRA PORT & SEZ AA 2000.00SHRIRAM TRANSPORT FINANCE AA 1876.76PUNJ LLOYD AA 1744.60RURAL ELECTRIFICATION CORPORATION AAA 994.23GSEC 6.05% 02/02/2019 SOVEREIGN 480.43DECCAN CHRONICLE AA 324.97RELIANCE CAPITAL AAA 1054.04
TOTAL - DEBT 8475.03Commercial Paper / Bank Deposits 0.00Cash ‘n’ Call, Current Assets & Receivables 4025.09
EquityS B I 574.49BHARTI TELEVENTURE 313.32STERLITE INDUSTRIES 254.18JAIPRAKASH ASSOCIATES 250.58RANBAXY LABORATORIES 239.77WIPRO 202.05L & T 184.96R I L 103.25JUBILANT ORGANOSYS 98.47A B B 92.65UNION BANK OF INDIA 91.53IRB INFRASTRUCTURE DEVELOPERS 51.54B H E L 49.84RELIANCE COMMUNICATION 40.91
TOTAL - EQUITY 2547.53
Holdings Rating Market Value(Rs. in Lakhs)
Holdings Rating Market Value(Rs. in Lakhs)
TOTAL FUND (as on 30/04/2010) : Rs. Lakh15047.65
NAV (Rs.) as on 30/04/2010Monthly Income : Yearly Income :Quarterly : 10.2798; Growth : 31.9460
10.1497; 10.3019;
Expense Ratio (as on 30/04/2010) : 1.79%
Avg. Maturity (in years) : 2.76
Avg. Duration (in years) : 2.48
LICMF INDIA VISION FUNDAn Open-ended Growth Scheme
TOTAL FUND (as on 30/04/2010) : Rs. 9037.78 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 8.7165; Growth: 8.7165
PORTFOLIO (as on 30/04/2010)
EquityRANBAXY LABORATORIES 574.97S B I 574.49L & T 562.92INFOSYS TECHNOLOGIES 528.08BHARTI TELEVENTURE 492.36R I L 464.63TATA TEA 452.62H C L TECHNOLOGIES 433.68I D B I 377.85POWER TRADING CORPORATION OF INDIA 342.45TATA CONSULTANCY SERVICES 306.40I F C I 265.25M & M 263.05JYOTI STRUCTURES LTD. 227.11B H E L 224.29POWER GRID CORPORATION OF INDIA 219.40ZEE TELEFILMS 214.58APOLLO TYRES 208.65YES BANK 199.85JAIPRAKASH ASSOCIATES 198.99
Holdings Mkt. Value (Rs. lakhs)
PORTFOLIO (as on 30/04/2010)
JUBILANT ORGANOSYS 196.95HINDALCO 195.69T I S C O 185.64INFRASTRUCTURE DEVELOPMENT FINANCE 170.70SUN PHARMACEUTICALS 156.68N M D C 155.17IDEA CELLULAR 122.40RELIANCE COMMUNICATION 114.56BHARAT FORGE 100.42H D F C BANK 99.58CIPLA 85.64IRB INFRASTRUCTURE DEVELOPERS 85.22PRADIP OVERSEAS 48.51Total - Equity 8848.76Debt
TOTAL - DEBT 0.00Commercial Paper / Bank DepositsCash ‘n’ Call, Current Assets & Receivables 189.02
Holdings Mkt. Value (Rs. Lakhs)
Expense Ratio (as on 30/04/2010) : 2.50%
Last 1 year
Last 3 years -3.83%
Since Inception -4.09%
Benchmark (BSE 200) Return - Last 1 year 66.28%
42.32%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Last 1 yearLast 3 years 9.46%Since Inception 10.17%Benchmark (C MiPex) Return (Last 1 year) 9.93%
14.50%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
MUTUAL INTEREST8 MUTUAL INTEREST 9
LICMF FLOATER MIPAn Open-ended income Scheme
PORTFOLIO (as on 30/04/2010)
EquityM & M 157.83BHARTI TELEVENTURE 149.20CIPLA 143.89L & T 135.10S B I 114.90APOLLO TYRES 104.33H D F C BANK 99.58ZEE TELEFILMS 91.07RANBAXY LABORATORIES 88.62UNITECH 84.90CAIRN INDIA 83.10TATA CONSULTANCY SERVICES 76.60SIEMENS 70.96POWER GRID CORPORATION OF INDIA 49.37IDEA CELLULAR 45.90POWER TRADING CORPORATION OF INDIA 45.66HINDALCO 44.48INFRASTRUCTURE DEVELOPMENT FINANCE 42.68RELIANCE COMMUNICATION 32.73Bond/DebentureWELSPUN GUJARAT STAHL ROHREN A+ 1200.00DECCAN CHRONICLE AA 866.69PUNJ LLOYD AA 794.55SHRIRAM TRANSPORT FINANCE AA 667.06MUNDRA PORT & SEZ AA 500.00GSEC 6.05% 02/02/2019 SOVEREIGN 393.08RELIANCE CAPITAL AAA 300.00MAGMA LEASING AA 1200.00RELIANCE CAPITAL AAA 1159.45Commercial paper 0.00Bank Deposits 0.00
Cash ‘n’ Call, Current Assets & Receivables 2807.64
TOTAL FUND (as on 30 ) : Rs. Lakhs/04/2010 11549.34
DIVIDEND HISTORY
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
NAV (Rs.) as on 30/04/2010
Monthly Income : 10.1845; Yearly Income : 10.3555;
;Quarterly : 10.2899 Growth : 17.3819
Holdings Rating Mkt. Value (Rs. lakhs)
Expense Ratio (as on 30 ) : %/04/2010 1.44
Avg. Maturity (in ) :
Avg. Duration (in month) : 18.79
month 20.87
LICMF INFRASTRUCTURE FUNDA 36 months Close ended Equity Fund with an automatic conversion into
an Open ended scheme on expiry of 36 months from the date of allotment (24/03/2008).
TOTAL FUND (as on 30/04/2010) : Rs. 23143.22 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 9.4500; Growth: 9.4500
PORTFOLIO (as on 30/04/2010)
EquityR I L 1744.93L & T 1704.85B H E L 1223.62H D F C 1164.63I C I C I BANK 988.52O N G C 969.55JAIPRAKASH ASSOCIATES 886.24INDIA CEMENTS 797.56S B I 792.79BHARTI TELEVENTURE 665.43INFRASTRUCTURE DEVELOPMENT FINANCE 647.12RELIANCE INFRASTRUCTURE 624.86IDEA CELLULAR 610.93JINDAL STEEL & POWER 594.96H D F C BANK 517.32G A I L 517.07UNITECH 509.40S A I L 441.23A B B 440.34DLF 373.50STERLITE INDUSTRIES 331.38T I S C O 303.21GAMMON INDIA 258.41CENTURY TEXTILES 253.63TATA POWER 240.45H P C L 230.39M U L 221.15AREVA T & D INDIA 218.35GRASIM INDUSTRIES 218.26A C C 214.93PUNJ LLOYD 211.94IVRCL INFRASTRUCTURES & PROJECTS 208.10V S N L 198.71VOLTAS 180.70INDIAN HOTELS 162.69N T P C 162.54M & M 157.83TATA MOTORS 157.11
Holdings Mkt. Value (Rs. lakhs)
PORTFOLIO (as on 30/04/2010)
Holdings Mkt. Value (Rs. Lakhs)
Expense Ratio (as on 30/04/2010) : 2.33%
Last 1 yearSince Inception -2.66%Benchmark (BSE 100) Return - Last 1 year 61.39%
48.15%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Last 1 year 14.30%Last 3 years 10.52%Since Inception 10.52%Benchmark (C MiPex) Return - last 1 year 9.93%
I D B I 146.55S C I L 143.55POWER GRID CORPORATION OF INDIA 136.37SIEMENS 131.61RELIANCE COMMUNICATION 118.93I O C L 118.83KOTAK MAHINDRA BANK 110.67SUZLON ENERGY 96.53INDIAN BANK 90.06NALCO 82.02MERCATOR LINES 76.14NEYVELI LIGNITE CORPORATION 74.06N H P C 71.61MADRAS CEMENT 70.92MUNDRA PORT & SEZ 68.89GVK POWER & INFRASTRUCTURE 67.88GMR INFRASTRUCTURE 66.60SYNDICATE BANK 65.28ULTRA TECH CEMCO 58.74HINDALCO 55.03OIL INDIA 53.13PUNJAB NATIONAL BANK 51.89N M D C 44.76RANBAXY LABORATORIES 44.31HERO HONDA MOTORS 38.10INDIABULLS POWER 10.86IRB INFRASTRUCTURE DEVELOPERS 8.82Total - Equity 22246.75Debt 0.00TOTAL - DEBT 0.00Commercial Paper / Bank Deposits 0.00Cash ‘n’ Call, Current Assets & Receivables 896.47
Month Frequency Gross Div.(Rs/Unit)
Month Frequency Gross Div.(Rs/Unit)
Month Frequency Gross Div.(Rs/Unit)
LICMF MONTHLY INCOME PLANAn Open-ended Monthly Income Scheme w.e.f. 01/06/2003
EQUITY PORTFOLIO (as on 30/04/2010)
DEBT PORTFOLIO (as on 30/04/2010)
Debt MUNDRA PORT & SEZ AA 2000.00SHRIRAM TRANSPORT FINANCE AA 1876.76PUNJ LLOYD AA 1744.60RURAL ELECTRIFICATION CORPORATION AAA 994.23GSEC 6.05% 02/02/2019 SOVEREIGN 480.43DECCAN CHRONICLE AA 324.97RELIANCE CAPITAL AAA 1054.04
TOTAL - DEBT 8475.03Commercial Paper / Bank Deposits 0.00Cash ‘n’ Call, Current Assets & Receivables 4025.09
EquityS B I 574.49BHARTI TELEVENTURE 313.32STERLITE INDUSTRIES 254.18JAIPRAKASH ASSOCIATES 250.58RANBAXY LABORATORIES 239.77WIPRO 202.05L & T 184.96R I L 103.25JUBILANT ORGANOSYS 98.47A B B 92.65UNION BANK OF INDIA 91.53IRB INFRASTRUCTURE DEVELOPERS 51.54B H E L 49.84RELIANCE COMMUNICATION 40.91
TOTAL - EQUITY 2547.53
Holdings Rating Market Value(Rs. in Lakhs)
Holdings Rating Market Value(Rs. in Lakhs)
TOTAL FUND (as on 30/04/2010) : Rs. Lakh15047.65
NAV (Rs.) as on 30/04/2010Monthly Income : Yearly Income :Quarterly : 10.2798; Growth : 31.9460
10.1497; 10.3019;
Expense Ratio (as on 30/04/2010) : 1.79%
Avg. Maturity (in years) : 2.76
Avg. Duration (in years) : 2.48
LICMF INDIA VISION FUNDAn Open-ended Growth Scheme
TOTAL FUND (as on 30/04/2010) : Rs. 9037.78 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 8.7165; Growth: 8.7165
PORTFOLIO (as on 30/04/2010)
EquityRANBAXY LABORATORIES 574.97S B I 574.49L & T 562.92INFOSYS TECHNOLOGIES 528.08BHARTI TELEVENTURE 492.36R I L 464.63TATA TEA 452.62H C L TECHNOLOGIES 433.68I D B I 377.85POWER TRADING CORPORATION OF INDIA 342.45TATA CONSULTANCY SERVICES 306.40I F C I 265.25M & M 263.05JYOTI STRUCTURES LTD. 227.11B H E L 224.29POWER GRID CORPORATION OF INDIA 219.40ZEE TELEFILMS 214.58APOLLO TYRES 208.65YES BANK 199.85JAIPRAKASH ASSOCIATES 198.99
Holdings Mkt. Value (Rs. lakhs)
PORTFOLIO (as on 30/04/2010)
JUBILANT ORGANOSYS 196.95HINDALCO 195.69T I S C O 185.64INFRASTRUCTURE DEVELOPMENT FINANCE 170.70SUN PHARMACEUTICALS 156.68N M D C 155.17IDEA CELLULAR 122.40RELIANCE COMMUNICATION 114.56BHARAT FORGE 100.42H D F C BANK 99.58CIPLA 85.64IRB INFRASTRUCTURE DEVELOPERS 85.22PRADIP OVERSEAS 48.51Total - Equity 8848.76Debt
TOTAL - DEBT 0.00Commercial Paper / Bank DepositsCash ‘n’ Call, Current Assets & Receivables 189.02
Holdings Mkt. Value (Rs. Lakhs)
Expense Ratio (as on 30/04/2010) : 2.50%
Last 1 year
Last 3 years -3.83%
Since Inception -4.09%
Benchmark (BSE 200) Return - Last 1 year 66.28%
42.32%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
EquityBHARTI TELEVENTURE 283.48JYOTI STRUCTURES LTD. 229.20RANBAXY LABORATORIES 218.69G A C L 181.73HUL 179.25L & T 160.84RELIANCE COMMUNICATION 142.51POWER TRADING CORPORATION OF INDIA 136.98HINDALCO 106.74I D B I 100.76YES BANK 85.65H C L TECHNOLOGIES 78.85POWER GRID CORPORATION OF INDIA 71.31INFRASTRUCTURE DEVELOPMENT FINANCE 51.21JAIPRAKASH ASSOCIATES 29.48
Total Equity 2056.67
LICMF CHILDREN’S FUNDAn Open-ended Balanced Scheme for Children
TOTAL FUND (as on 30/04/2010) : Rs. Lakh695.22
NAV (Rs.) as on 30/04/2010 : 10.5238
Last 1 year
Last 3 years -11.64%
Since inception (12/11/2001) 0.60%
Benchmark ) Return Last 1 year 33.62
36.99%
(C BalanceEx %
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Expense Ratio (as on 30/04/2010) : 2.24%
PORTFOLIO (as on 30/04/2010)
Equity
R I L 61.95
I F C I 53.05
RELIANCE INFRASTRUCTURE 45.44
JAIPRAKASH ASSOCIATES 44.22
ADLABS FILMS 37.89
RELIANCE CAPITAL 36.95
RELIANCE COMMUNICATION 6.55
Total Equity 286.05
Debt
SHRIRAM TRANSPORT FINANCE AA 98.42
PUNJ LLOYD AA 98.30
Total Debt 196.72
Commercial Paper/ Bank Deposits
Cash ‘n’ Call, Current Assets & Receivables 212.46
Holdings Rating Mkt. Value (Rs. lakhs) Avg. Maturity (in month) : 1.73
Avg. Duration (in month) : 1.56
Money Mkt.20.67%
Money Mkt.30.56%
Debt 7.56%
.
Debt 28.30%
.
Equity71.77%
Equity41.14%
LICMF FLOATING RATE FUND - STPAn Open-ended Income Fund
PORTFOLIO (as on 30 )/04/2010
TOTAL FUND (as on 30/04/2010) : Rs. 521344.24 Lakhs
LICMF SAVINGS PLUS FUND(An open-ended income scheme)
PORTFOLIO (as on 30 )/04/2010
Debt Instruments MUNDRA PORT & SEZ AA 22500I R F C AAA 5163.174WELSPUN GUJARAT STAHL ROHREN A+ 1230RANBAXY HOLDING A1+ 50000BHUSHAN STEEL & STRIPS PR1 30000VIDEOCON INDUSTRIES F1 20000BHUSHAN POWER AND STEEL PR1 20000BHUSHAN STEEL PR1 20000JSW STEEL PR1+ 20000ALOK INDUSTRIES PR1+ 20000TRAPTI TRADING & INVESTMENT A1+ 16500TGS INVESTMENT & TRADE A1+ 15000RELIANCE CAPITAL AAA 15000ICICI SECURITIES P1+ 10000OSCAR INVESTMENTS A1+ 10000SIVA VENTURES PR1+ 10000AMTEK AUTO PR1+ 10000JINDAL STEEL & POWER AA 5000BIRLA TMT HOLDING P1+ 5000SUNDARAM FINANCE A1+ 5000DECCAN CHRONICLE PR1+ 5000JAIPRAKASH ASSOCIATES PR1 4000NAMAN FINANCE AND INVESTMENT A1+ 3000ARCH PHARMALABS F1 2500COX AND KINGS PR1 2500COX AND KINGS PR1+ 2000MAGMA LEASING AA 1300Commercial PaperINDIABULLS FINANCIAL SERVICES P1+ 56869.93RELIGARE FINVEST A1+ 47205.41RELIANCE CAPITAL A1+ 37679.68RELIGARE SECURITIES P1+ 28790.46RELIANCE MEDIA WORKS A1+ 19106.69MUNDRA PORT & SEZ A1+ 18960.06ERA INFRA ENGINEERING PR1 18915.34JAIPRAKASH ASSOCIATES PR1 18738.6DEWAN HOUSING FINANCE P1+ 17549.334TATA MOTORS FINANCE A1 9819.4778RELIANCE SECURITIES A1+(SO) 9526.1109IL & FS FINANCIAL SERVICES A1+ 9444.31BOMBAY RAYON FASHIONS PR1 9433.96FUTURE CAPITAL HOLDINGS PR1+ 9413.28BHUSHAN POWER AND STEEL F1+(SO) 9382.45BILT GRAPHIC PAPER F1+ 9347.47ESSAR SHIPPING PORTS & LOGISTICS PR1 8650.3054H C C PR1+ 6828.9525ICICI SECURITIES P1+ 6133.0295IL & FS FINANCIAL SERVICES PR1+ 4733.13RELIANCE MEDIA WORKS A1 4728.56MAGMA FINCORP PR1+ 4684.65BALLARPUR INDUSTRIES F1+ 4652.05ESSAR STEEL F1 4652.05TELEVISION EIGHTEEN A1+ 2833.119BHARAT FORGE A1+ 2442.7775KEC INTERNATIONAL A1 2437.9175NATIONAL ENGINEERING INDUSTRIES LTD PR1+ 2437.745AMALGMATED BEAN COFEE TRADING CO. PR1+ 985.462KEC INTERNATIONAL A1+ 973.879Certificate of DepositsAXIS BANK P1+ 53940.956I D B I BANK A1+ 45213.3325BANK OF INDIA P1+ 35811.5625ANDHRA BANK PR1+ 33972.57BANK OF BARODA A1+ 29041.64PUNJAB NATIONAL BANK PR1+ 23426.064VYSYA BANK P1+ 9833.8UCO BANK P1+ 9814.81ORIENTAL BANK OF COMMERCE P1+ 9624ANDHRA BANK F1+ 9607.98CORPORATION BANK P1+ 7361.565VIJAYA BANK PR1+ 7113.6225STATE BANK OF PATIALA A1+ 4818.025Bank DepositCENTRAL BANK OF INDIA 200000
Cash ‘n’ Call, Current Assets & Receivables -126794.342
TOTAL FUND (as on 30/04/2010) : Rs. Lakh1070834.95
Last 1 yearLast 3 years 6.90%Since Inception 5.73%
Benchmark (C Fund ~LX) Return 3.17%
5.43%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
EquityR I L 624.66I T C 351.81I C I C I BANK 313.67L & T 305.59O N G C 263.78H D F C 253.97RELIANCE INFRASTRUCTURE 227.22H D F C BANK 209.12BHARTI TELEVENTURE 208.88S B I 206.82B H E L 174.45T I S C O 167.08JAIPRAKASH ASSOCIATES 165.83PETRONET LNG 150.08INFRASTRUCTURE DEVELOPMENT FINANCE 136.56POWER TRADING CORPORATION OF INDIA 125.22IDEA CELLULAR 122.40RELIANCE COMMUNICATION 112.92HUL 107.55NDTV Ltd 102.17JUBILANT ORGANOSYS 98.47I O C L 88.40STERLITE INDUSTRIES 82.85POWER GRID CORPORATION OF INDIA 76.79TATA CONSULTANCY SERVICES 76.60KOTAK MAHINDRA BANK 73.78JINDAL STEEL & POWER 66.93S A I L 62.96INDIA CEMENTS 62.80V S N L 62.32ADITYA BIRLA NUVO 58.73GRASIM INDUSTRIES 54.57TATA POWER 54.20TATA MOTORS 52.37WIPRO 52.20ABAN OFFSHORE 50.87M U L 49.82RANBAXY LABORATORIES 48.74H P C L 47.33A C C 45.31H C L TECHNOLOGIES 39.43AXIS BANK 38.05DR REDDYS LABORATORIES 37.87HINDALCO 35.58INDIAN HOTELS 34.59SUZLON ENERGY 34.48PUNJ LLOYD 33.01A B B 31.66
An Open-ended Equity Scheme
PORTFOLIO (as on 30/04/2010) PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 10289.36
NAV (Rs.) as on 30/04/2010: Dividend: 9.9168; Growth: 25.1675
Expense Ratio (as on 30 ) : %/04/2010 2.08
Holdings Mkt. Value(Rs. Lakh)
Holdings Mkt. Value(Rs. Lakh)
Equity R I L 916.34I C I C I BANK 513.27L & T 498.59I T C 477.09JAIPRAKASH ASSOCIATES 460.63B H E L 423.66S B I 413.63H D F C 409.18RELIANCE INFRASTRUCTURE 401.07O N G C 397.03KOTAK MAHINDRA BANK 332.01BHARTI TELEVENTURE 277.51I F C I 265.25H D F C BANK 258.91PETRONET LNG 254.92N T P C 244.18TATA CONSULTANCY SERVICES 229.80IDEA CELLULAR 183.60I O C L 176.79WIPRO 140.09V S N L 138.53DLF 124.50TATA MOTORS 112.98S A I L 107.09HUL 105.16A B B 102.96JUBILANT ORGANOSYS 98.47GRASIM INDUSTRIES 95.49M U L 95.09TATA POWER 86.88STERLITE INDUSTRIES 82.85POWER GRID CORPORATION OF INDIA 82.01T I S C O 74.26INFRASTRUCTURE DEVELOPMENT FINANCE 68.28UNITECH 67.92SIEMENS 64.26ADITYA BIRLA NUVO 63.74H P C L 63.11DR REDDYS LABORATORIES 63.11H C L TECHNOLOGIES 57.21I D B I 56.68G A I L 55.78INFOSYS TECHNOLOGIES 54.72PUNJAB NATIONAL BANK 51.89HINDALCO 47.65VOLTAS 45.18INDIAN BANK 45.03RANBAXY LABORATORIES 44.31RELIGARE ENTERPRISES 42.05PUNJ LLOYD 41.26PRADIP OVERSEAS 40.43AXIS BANK 38.05JINDAL STEEL & POWER 37.19N M D C 29.84MERCATOR LINES 29.75
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Last 1 year 51.92%Last 3 years 6.51%Since Inception 9.81%Benchmark (Sensex) Return Last 1 year 53.80%
I D B I 31.49PUNJAB NATIONAL BANK 31.13N M D C 29.84M & M 28.94HERO HONDA MOTORS 28.57UNITECH 25.47N H P C 22.54G A I L 21.46BALARAMPUR CHINI MILLS LTD. 20.83SUN PHARMACEUTICALS 15.67SYNDICATE BANK 13.99CIPLA 10.41INDIABULLS POWER 9.27OIL INDIA 8.27AREVA T & D INDIA 4.13Total - Equity 6182.42Debt 0.00Total - Debt 0.00Cash ‘n’ Call, Current Assets & Receivables 258.29
SUZLON ENERGY 27.58M & M 26.31NDTV Ltd 24.04N H P C 24.02MUNDRA PORT & SEZ 22.25OIL INDIA 19.48HERO HONDA MOTORS 19.05A C C 18.12CIPLA 17.13RELIANCE COMMUNICATION 16.37INDIAN HOTELS 13.73G A C L 7.27INDIABULLS POWER 4.77SYNDICATE BANK 1.77Total - Equity 9929.10Debt 0.00Total Debt 0.00Cash ‘n’ Call, Current Assets & Receivables 360.26
SNAPSHOT
31st January 2005
The investment objective of the scheme is to provide capital growth in long-term with reasonable risk levels by investing mainly in companies which are in sector/s, which have a high growth potential at that point to time.
Equity - Diversified
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
1st January 1997
To provide capital growth alongwith tax rebate and tax relief u/s 80 C to our investors through Prudent Investments in the stock market.
ELSS
Dividend / Growth
Nil
Nil
Rs. 500/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
21st September 2004
The investment objective of the scheme is to generate regular income by investing mainly in floating rate instruments / fixed rate instruments swapped for floating rate return so as to minimise the interest rate risk and at the same time aiming at generating capital appreciation in a long term by investing in equity / equity related instruments.
To provide capitalgrowth by investing in index stocks.
Equity - Index
Sensex / Nifty / Sensex Advantage
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 2000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
16th April 98
To obtain maximum possible maximum possible growth consistent with reasonable levels of safety and security by investing mainly in equities.
Equity - Diversified
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 2000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
1st January 91
To provide regular returns & capital appreciation according to the slection of the plan by investing in equities & debt.
Balanced
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 1000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
Index Fund Growth Fund Balanced Fund Equity Fund
Opportunities Fund Tax Plan Floater MIP
SIP: Systematic Investment Plan; SWP: Systematic Withdrawal Plan; STP: Systematic Transfer Plan; AWOCA: Automatic Withdrawal of Capital AppreciationNote : SWP & AWOCA are available under growth options only.
1st September 99
To provide capital growth by investing in a mix of equity instruments.
Equity - Diversified
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 2000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
Income Plus Fund
28th May 2007
To provide reasonable possible current income - consistent with preservation of capital & providing liquidity from investing in a diversified portfolio of Short-Term Money Market & Debt securities.
Debt
Dividend Frequency :Daily / Weekly / Monthly
Dividend / Growth
Nil
Nil
Rs. 5,00,000/-
Redemption on all business days
On all business days
STP
Available
Daily / Weekly / Monthly
Money Mkt.3.50%
Equity96.50%
13MUTUAL INTERESTMUTUAL INTEREST4
LICMF INDEX FUNDAn Open-ended Index Linked Equity Scheme
EquityR I L 933.31INFOSYS TECHNOLOGIES 703.57I C I C I BANK 566.21L & T 519.43H D F C 380.61H D F C BANK 372.06I T C 369.83S B I 316.32B H E L 210.32TATA CONSULTANCY SERVICES 205.34T I S C O 201.52BHARTI TELEVENTURE 194.78O N G C 190.30STERLITE INDUSTRIES 178.56AXIS BANK 167.68JINDAL STEEL & POWER 152.90HUL 134.17TATA MOTORS 133.38HINDALCO 124.14TATA POWER 118.01M & M 117.24WIPRO 106.44G A I L 102.64N T P C 96.22CIPLA 92.89HERO HONDA MOTORS 91.35M U L 90.60JAIPRAKASH ASSOCIATES 90.30RELIANCE INFRASTRUCTURE 85.57INFRASTRUCTURE DEVELOPMENT FINANCE 85.37PUNJAB NATIONAL BANK 73.44CAIRN INDIA 72.63S A I L 67.68KOTAK MAHINDRA BANK 63.32SUN PHARMACEUTICALS 63.12UNITECH 61.13DLF 60.75RELIANCE COMMUNICATION 59.00SIEMENS 57.41IDEA CELLULAR 54.87G A C L 52.93A C C 48.80RELIANCE CAPITAL 45.38H C L TECHNOLOGIES 45.19A B B 43.34RANBAXY LABORATORIES 36.42B P C L 35.72POWER GRID CORPORATION OF INDIA 34.37RELIANCE POWER LTD 31.18SUZLON ENERGY 27.08Total Equity 8164.81Cash ‘n’ Call, Current Assets & Receivables 13.45
NIFTY PLAN - PORTFOLIO (as on 30 )/04/2010
TOTAL FUND (as on 30/04/2010) : Rs. 8178.26 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 10.7132; Growth: 29.0398
Last 6 months 24.76%Last 1 year 46.37%Last 3 years 5.11%Since Inception 15.47%Benchmark NSE - Nifty Return (Last 6 months) 25.56%Benchmark NSE - Nifty Return (Last 1 year) 51.76%
ANNUALISED RETURNS
Equity R I L 423.72INFOSYS TECHNOLOGIES 334.71I C I C I BANK 265.65L & T 218.54H D F C BANK 182.79H D F C 182.61I T C 177.22S B I 164.85O N G C 113.41TATA CONSULTANCY SERVICES 112.82B H E L 107.04BHARTI TELEVENTURE 99.68T I S C O 96.31N T P C 86.60STERLITE INDUSTRIES 78.82HUL 65.41TATA MOTORS 62.84HINDALCO 60.05M & M 57.36TATA POWER 56.53
SENSEX PLAN PORTFOLIO (as on 30/04/2010)
Holdings Mkt. Value (Rs. lakhs)
SENSEX PLAN PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 3339.50
NAV (Rs.) as on 30/04/2010: Dividend: 11.1704; Growth: 32.5988
Expense Ratio (as on 30 ) : 1.35%/04/2010
Last 6 months 21.03%Last 1 years 49.35%Last 3 years 4.23%Since Inception 17.28%Benchmark BSE - Sensex Return (Last 6 months) 22.08%Benchmark BSE - Sensex Return (Last 1 years) 53.80%
(Past Performance may or may not be Sustained in Future)
(Past Performance may or may not be Sustained in Future)
Holdings Mkt. Value (Rs. lakhs)
Holdings Mkt. Value (Rs. lakhs)
TOTAL FUND (as on 30/04/2010) : Rs. 527.33 Lakh
NAV (Rs.) as on 30/04/2010: Dividend: 10.8680; Growth: 30.7180
Expense Ratio (as on 30/04/2010) : 1.50%
Last 1 yearLast 3 years 2.86%Since Inception 16.35%Benchmark BSE - Sensex Return (Last 1 year) 53.80
52.83%
%
ANNUALISED RETURNS
DIVIDEND HISTORY
(Past Performance may or may not be Sustained in Future)
Holdings Mkt. Value (Rs. lakhs)EqutiyR I L 61.98INFOSYS TECHNOLOGIES 47.80I C I C I BANK 37.19L & T 28.87H D F C 25.59I T C 25.18H D F C BANK 25.15S B I 18.04O N G C 16.44B H E L 15.33BHARTI TELEVENTURE 14.60NDTV Ltd 14.42TATA CONSULTANCY SERVICES 13.41T I S C O 13.38G A I L 12.87STERLITE INDUSTRIES 10.86H P C L 9.47HUL 9.34N T P C 9.17JAIPRAKASH ASSOCIATES 8.55TATA POWER 8.21M & M 7.77TATA MOTORS 7.54WIPRO 7.10UNITECH 6.79HERO HONDA MOTORS 6.72M U L 6.53GRASIM INDUSTRIES 6.52HINDALCO 6.46INFRASTRUCTURE DEVELOPMENT FINANCE 5.12SUN PHARMACEUTICALS 4.72RELIANCE INFRASTRUCTURE 4.67DLF 4.65RELIANCE COMMUNICATION 4.36A C C 3.33ADITYA BIRLA NUVO 3.29Total Equity 511.42Cash ‘n’ Call, Current Assets & Receivables 15.91
WIPRO 49.72HERO HONDA MOTORS 47.80GRASIM INDUSTRIES 47.04M U L 46.30JAIPRAKASH ASSOCIATES 43.30RELIANCE INFRASTRUCTURE 41.49DLF 33.04SUN PHARMACEUTICALS 32.67RELIANCE COMMUNICATION 29.78A C C 23.38Total Equity 3341.47Cash ‘n’ Call, Current Assets & Receivables -1.97
SCHEMES
26th March 99
To generate attractive returns for our investors by investing in quality debt securities and money market instruments.
Debt
Dividend / Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Quarterly
15th November 99
To generate steady and consistent returns for our investors by timing the government securities market.
Debt - Gilt
PF / Regular
Dividend / Growth
Nil
1% if exit within 1 year
Regular Plan: Rs. 5,000/-PF Plan: Rs. 10000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Quarterly
26th September 01
To generate long term capital appreciation through judicious mix of quality debt & equity instrument at moderate risk levels through research based investments.
Balanced
Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
As and when available
29th May 03
To generate income by investing in a portfolio of quality short term debt securities.
Debt - Short Term
Dividend / Growth
Nil
Nil
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Monthly / Daily / Weekly
Bond Fund G-Sec Fund Savings Plus Fund Children’s Fund
11th March 02
To generate reasonable returns with low risk and high liquidity through judicious mix of investment in money market and quality debt instruments
Debt - Liquid
Dividend / Growth
Nil
Nil
Rs. 25000/-
Redemption on all business days
On all days
STP
Available
Daily
1st June / 03
To generate regular income by investing mainly in quality debt and money market instruments with some portion in equity/equity related instruments for long term capital appreciation.
Debt
Monthly Div./Quarterly Div. Yearly Div./Growth
Nil
1% if exit within 1 year
Rs. 5000/-
Redemption on all business days
On all business days
SIP / SWP / STP / AWOCA
Available
Monthly / Quarterly / Yearly
15th March 2004
To generate consistent returns by investing mainly in floating rate instruments/fixed rate instruments swapped for floating rate return so as to minimise the interest rate risk for the investor.
Debt - Floating
Dividend / Growth
Nil
Nil
Rs. 5,000/- and thereafter in multiples of Rs. 500/-.
Redemption on all business days
On all days
SIP / SWP / STP / AWOCA
Available
Daily / Weekly
19th June 89
To generate long term capital appreciation and offer Tax rebate u/s 80 C as well as additional benefits of a life & insurance cover free accident insurance cover.
Insurance linked tax saving
Single Premium-5/10 year termRegular Contribution-10/15 year term
Dividend Re-investment
Nil
Nil
Rs. 10000/- under Single Premium Rs. 1000/- under Regular Premium- yearly option, Rs. 100/- under Regular Premium - monthly option
Redemption on all business days
On all business days
SIP / STP
Available
As and when available
Liquid Fund Monthly Income Plan Unit Linked Insurance Scheme Floating Rate Fund - STP
Launch Date
Objective
Type
Plans
Options
Entry Load
Exit Load
Minimum Investment
Liquidity
NAV Declaration
Special Facilities
Nomination
Dividend Frequency
Launch Date
Objective
Type
Plans
Options
Entry Load
Exit Load
Minimum Investment
Liquidity
NAV Declaration
Special Facilities
Nomination
Dividend Frequency
MUTUAL INTEREST14 3MUTUAL INTEREST
LICMF GROWTH FUNDAn Open-ended SchemeGrowth
PORTFOLIO (as on 30/04/2010) PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 10197.91
Expense Ratio (as on 30 ) : %/04/2010 2.06
Last 1 year 60.25%Last 3 year 5.19%Since Inception 9.29%Benchmark (Sensex) Return - last 1 year 53.80%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Holdings Mkt. Value(Rs. Lakh)
Holdings Mkt. Value(Rs. Lakh)
EquityR I L 629.83S B I 609.72L & T 562.92I T C 522.15I C I C I BANK 484.76O N G C 464.24H D F C BANK 330.01B H E L 305.23RELIANCE INFRASTRUCTURE 261.30H D F C 239.86VOLTAS 208.78T I S C O 207.90S A I L 205.44BHARTI TELEVENTURE 201.42TATA MOTORS 170.21G A I L 158.03ORCHID CHEMICALS & PHARMACEUTICALS 157.85B E M L 157.08TATA CONSULTANCY SERVICES 153.20POWER TRADING CORPORATION OF INDIA 141.09WIPRO 134.70RANBAXY LABORATORIES 132.93DLF 124.50HUL 123.85INDIA CEMENTS 119.16A B B 118.73JAIPRAKASH ASSOCIATES 117.92IDEA CELLULAR 107.10JUBILANT ORGANOSYS 98.47M U L 89.58MERCATOR LINES 89.25SIEMENS 85.15TATA CHEMICALS 83.33BALARAMPUR CHINI MILLS LTD. 83.30PUNJ LLOYD 82.53I D B I 78.15KOTAK MAHINDRA BANK 77.47INFRASTRUCTURE DEVELOPMENT FINANCE 76.82M & M 70.23ADITYA BIRLA NUVO 69.90N T P C 69.38GRASIM INDUSTRIES 68.21INDIAN BANK 67.55STERLITE INDUSTRIES 66.28DR REDDYS LABORATORIES 63.11CIPLA 51.38PETRONET LNG 49.26NEYVELI LIGNITE CORPORATION 47.42H P C L 47.33SYNDICATE BANK 46.63PUNJAB NATIONAL BANK 45.66INFOSYS TECHNOLOGIES 45.06HINDALCO 44.48RELIGARE ENTERPRISES 41.67V S N L 41.50TATA POWER 40.65PRADIP OVERSEAS 40.43HERO HONDA MOTORS 38.10IVRCL INFRASTRUCTURES & PROJECTS 36.27NDTV Ltd 36.06S C I L 35.81IRB INFRASTRUCTURE DEVELOPERS 32.83RELIANCE COMMUNICATION 32.73SUN PHARMACEUTICALS 31.34H C L TECHNOLOGIES 30.72N M D C 29.84JINDAL STEEL & POWER 29.75MUNDRA PORT & SEZ 29.67ULTRA TECH CEMCO 29.17SUZLON ENERGY 27.58AREVA T & D INDIA 25.55AXIS BANK 25.36N H P C 22.54
(Past Performance may or may not be Sustained in Future)
PORTFOLIO (as on 30/04/2010)
Holdings Mkt. Value %
(Rs. Lakh) ContributionEquityR I L 289.10S B I 245.88I T C 237.13I C I C I BANK 209.11O N G C 200.47L & T 195.01RELIANCE INFRASTRUCTURE 170.42H D F C 169.31BHARTI TELEVENTURE 124.87TATA CONSULTANCY SERVICES 122.56H D F C BANK 119.50B H E L 112.14IDEA CELLULAR 110.16HUL 107.55T I S C O 96.53NDTV Ltd 81.98ADITYA BIRLA NUVO 71.23DLF 63.81M U L 63.58KOTAK MAHINDRA BANK 62.93RELIANCE COMMUNICATION 58.56WIPRO 57.25A B B 55.41CENTURY TEXTILES 55.30CONCOR 51.18V S N L 50.36JUBILANT ORGANOSYS 49.24TATA MOTORS 43.64INFRASTRUCTURE DEVELOPMENT FINANCE 42.68GRASIM INDUSTRIES 40.92DR REDDYS LABORATORIES 37.87M & M 36.83VOLTAS 36.14RANBAXY LABORATORIES 35.45G A I L 34.34S A I L 33.27STERLITE INDUSTRIES 33.14INDIA CEMENTS 31.40SUZLON ENERGY 31.03JAIPRAKASH ASSOCIATES 30.22JINDAL STEEL & POWER 29.75I O C L 29.47RELIGARE ENTERPRISES 29.16MUNDRA PORT & SEZ 21.51PUNJAB NATIONAL BANK 21.04BALARAMPUR CHINI MILLS LTD. 20.83HERO HONDA MOTORS 19.05I D B I 18.89UNITECH 16.98N M D C 14.92SYNDICATE BANK 13.99TATA POWER 13.55
Holdings Market Value(Rs. in Lakhs)
Last 1 year
Last 3 years 2.09%
Since Inception 8.46%
Benchmark (Sensex) Return Last 1 year 53.80
45.52%
%
ANNUALISED RETURNS
DIVIDEND HISTORYMonth Dividend
Oct-07 15.00%
NAV (Rs.) as on 30/04/2010: DIVIDEND: 10.8541; GROWTH: 12.2382
NAV (Rs.) as on 30/04/2010; Dividend: 9.8689; Growth: 27.5640
Money Mkt.6.50%
Equity93.50%
Money Mkt.5.89%
Equity94.11%
OIL INDIA 19.48UNITECH 16.98INDIAN HOTELS 14.05JET AIRWAYS (INDIA) 12.48A C C 9.06POWER GRID CORPORATION OF INDIA 8.68G A C L 5.15INDIABULLS POWER 4.77ELDER PHARMACEUTICALS 2.91Total Equity 9596.96Debt 0.00Total - Debt 0.00Commercial Paper / Bank Deposit 0.00Cash ‘n’ Call, Current Assets & Receivables 600.95
PRADIP OVERSEAS 12.94H P C L 12.62N H P C 10.20INDIABULLS POWER 5.12CIPLA 3.43Total Equity 3990.91Debt Total - Debt 0.00Commercial Paper / Bank Deposit 0.00Cash ‘n’ Call, Current Assets & Receivables 277.44
Market Review
DEBT MARKET
Liquidity was at ease and call rates were soft through out the period, on ample cash in the system. Call rates traded at 3.80/90 percent at the end of month. Liquidity stayed comfortable despite 25 basis points increase in CRR to 6 percent by RBI in the policy review last week.
Highlights of Reserve Bank's monetary policy for 2010-11:
Repo rate raised by 25 basis points from 5.0 per cent to 5.25 per cent.
Reverse repo rate raised by 25 basis points from 3.5 per cent to 3.75 per cent.
Cash reserve ratio (CRR) raised by 25 basis points from 5.75 per cent to 6.0 per cent.
Real GDP growth projection for kept at 2010-11 at 8.0 per cent with an upside bias.
The baseline projection for WPI inflation for March 2011 is placed at 5.5 per cent.
Money supply (M3) growth for 2010-11 is placed at 17.0 per cent.
The most traded 7.02 percent, 2016 bond closed at a yield of 7.55percent, at the end of month unchanged from previous close, on account of lower than expected cut offs for the new ten year bond at its scheduled auction. The yield of 7.02 percent 2016 was at 7.59% a month earlier.
The Headline inflation, as measured by the wholesale price index, rose 9.90 percent in March 2010, compared to 9.89 rise in February and as against 1.20 percent a year ago. The rise was mainly driven by higher fuel and food prices. In the month of March, food articles and fuel price index rose by 16.65 percent and 12.71 percent respectively. Consumer price index (CPI) rose 14.86 percent in March.
We expect interest rates to holds steady in the medium term given ample liquidity in the system. By raising the policy rates RBI has signaled a heavy shift in its monetary stance to contain inflation. However with demand side pressure increasing and corporate rediscovering purchasing power, going forward maintaining price stability will be a huge challenge for RBI.
EQUITY REVIEW
The Corporate Results for the FY10, Monetary Policy by Reserve Bank Of India guiding the interest rates movement and financial market in turn, and global cues like the escalation of the crisis in Greek were the deciding factors in the first month of new financial year.
The Benchmark indices Sensex and Nifty crossed their psychological levels of 18000 and 5350 on 07/04/2010 and posted a ninth straight weekly gain in the 1st week of April. The BSE Sensex fell 341.96 points or
nd1.91% to 17,591.18 in the 2 week of April. The S&P CNX Nifty lost 99.15 points or 1.84% to 5262.60 in the week with lot of profit booking seen in the index stocks. With RBI's less than expected interest rates hike, row over ULIP between SEBI and IRDA, mix corporate results and week global cues resulted in Indian Equity markets closing flat for the month end. The BSE Sensex closed at 17558.71 and S&P CNX Nifty closed at 5278 registering the growth of 0.18% and 0.55% respectively in the month of April 2010.
Sectoral indices performance –
The consumer durables, real estate banking indices were the out performers during the month by registering a growth of 10.06%, 6.65% and 4.72% respectively. The mid-cap and small-cap indices also posted a healthy rise of 8.35% and 5.56% respectively.
The OIL and metal indices were the worst performer in this moth. The capital goods, metal and oil indices posted a negative growth of .38%, 1.72% and 2.32% respectively.
Result Analysis:
The Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 660 companies rose 25.8% to Rs 33470 crore on 32.5% rise in sales to Rs 302678 crore in the quarter ended March 2010 over the quarter ended March 2009. (source; Capitalmarket)
The heavyweight RIL could not post the expected results. However, the ICICI bank, HDFC Bank, BHEL and other auto stocks in index posted good results.
Primary markets:
The government on Thursday, 29 April 2010, kicked off its disinvestment programme for the fiscal year March 2011 with the initial public offering (IPO) of the state-run SJVN whereby the Government decided to offload 10% of its stake in the company. The issue size was Rs.41.50 crore and got subscribed 6.64 times.
Institutional activities:
Foreign institutional investors (FIIs), one of the largest categories of investors in the local equity markets, inveted Rs.9361.30 crore in April 2010 and they have bought Indian stocks worth $6646.40 million (Rs30005.80 crore) in 2010 till date, the highest in the first four months of a year since they were allowed entry into the country in 1992.
The domestic Mutual Funds were the net sellers in the equity market to the tune of Rs.1715.20 crore.
Economic Envirornment:
1. Inflation:The food price index rose 16.61% in the 12 months to April 17, lower than an annual rise of 17.65% in the previous week. The fuel price index rose an annual 12.69% marginally higher than the previous week's reading of 12.45%. the wholesale price inflation in March touched a 17-month high of 9.9%
2. Core Sector Growth:The India's infrastructure sector that constitute 26.68% of India's Industrial output, grew 7.2% in March against 3.3% in March 2009, where as 5.5% for the FY10 against 3% a year ago.
3. India's industrial production grew at 15.1% in February over a year ago, and is seen at around the same level in March.
4. Monetary Policy: The Reserve Bank of India in its Monetary Policy for FY11.The Highlights of the policy are -
a. Hike in the CRR and Repo and Reverse Repo by 25 bps to 6%, 5.25% and 3.75% respectively.
b. Bank rate retained at 6%.
c. CRR hike to suck out Rs 12,500-crore liquidity.
d. Economic growth projection seen at 8% for 2010-11
e. FY'10 GDP growth seen at 7.2-7.5%.
f. Inflation pegged at 5.5% for 2010-11
g. Quarterly policy review on July 27, 2010
h. RBI targets inflation at 3 pc in medium term
i. RBI to closely monitor price situation
j. Demand side pressures building up in economy
k. Lower policy rates can impair inflationary expectations
l. Policy to be aligned with evolving state of economy
m. RBI proposes to introduce some Interest Rate futures
n. To prepare discussion paper on foreign banks by September
5. Rupee appreciated by 1.23% in a month closing at Rs.44.25 a dollar.
6. Crude Oil prices have gone up to $86.15 rising 2.85% in a month.
7. The Indian Meteorological department (IMD) expects normal rainfall in the June-September monsoon season this year and is likely to be 98% of the long-term average.
OUTLOOK
In its half-yearly World Economic Outlook, the International Monetary Fund (IMF) has pegged India's GDP growth at 8.75% in calendar 2010 and 8.5% in calendar 2011. According to the IMF, domestic demand in India will strengthen as the labour market improves, and investment is expected to be boosted by strong corporate profitability, rising business confidence and favourable financing conditions. The expected normal monsoon will lead to increase in rural income and fall in food inflation. The world markets are now cautious due to the issues in Europeon countries (PIGS) viz. Portugal, Ireland, Greece and Spain. Though the EU counties issues do not have direct impact on Indian Stock market, the sentiments and FII flow will be affected in the short term. However, the long to mid term outlook of Indian equity market seem to be positive.
MUTUAL INTEREST2 15MUTUAL INTEREST
LICMF UNIT LINKED INSURANCE SCHEME An Open-ended Insurance linked Tax Saving Scheme
EQUITY PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30/04/2010) : Rs. Lakh11044.55
NAV (Rs.) as on 30/04/2010 : 9.7330
Last 1 year 26.54%Last 3 years 4.08%Since Inception 11.88%Benchmark (C BalanceEx) Return (Last 1 year) 33.62%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
Holdings Rating Market Value(Rs. in Lakhs)
Equity BHARTI TELEVENTURE 746.00S B I 689.39L & T 619.21H D F C 507.94TATA POWER 507.13JAIPRAKASH ASSOCIATES 506.64B H E L 373.82R I L 361.38TATA TEA 308.82CIPLA 308.30SIEMENS 248.34POWER GRID CORPORATION OF INDIA 219.40O N G C 200.47RELIANCE COMMUNICATION 163.65TATA CONSULTANCY SERVICES 153.20G A I L 150.19N M D C 140.25TATA MOTORS 130.93G A C L 121.15JUBILANT ORGANOSYS 98.47PUNJAB NATIONAL BANK 83.02
TOTAL - EQUITY 6637.67
DEBT PORTFOLIO (as on 30/04/2010)
Holdings(Rs. in Lakhs)
Rating Market Value
DebtPUNJ LLOYD AA 1366.68DECCAN CHRONICLE AA 758.27SHRIRAM TRANSPORT FINANCE AA 232.33RELIANCE CAPITAL AAA 421.62
TOTAL - DEBT 2778.90
Commercial Paper 0.00
TOTAL - Commercial Paper 0.00
Cash ‘n’ Call, Current Assets & Receivables 1627.98
Avg. Maturity (in years) : 1.67
Avg. Duration (in years) : 1.50
PORTFOLIO (as on 30/04/2010)
TOTAL FUND (as on 30 ) : Rs. Lakh/04/2010 1524457.17
Bonds / DebenturesMUNDRA PORT & SEZ AA 27500.00RELIANCE CAPITAL AAA 15000.00WELSPUN GUJARAT STAHL ROHREN A+ 10570.00I C I C I BANK AAA 6016.00P F C AAA 2491.25RANBAXY HOLDING A1+ 50000.00ALOK INDUSTRIES PR1+ 30000.00JSW STEEL PR1+ 20000.00SIVA VENTURES PR1+ 20000.00VIDEOCON INDUSTRIES F1 20000.00BAJAJ HINDUSTAN F1 20000.00BHUSHAN POWER AND STEEL PR1 20000.00RELIANCE CAPITAL AAA 15000.00TRAPTI TRADING & INVESTMENT A1+ 11000.00ARCH PHARMALABS PR1+ 10000.00MUTHOOT FINANCE P1+ 10000.00BHUSHAN STEEL & STRIPS PR1 10000.00ICICI SECURITIES P1+ 10000.00MAGMA LEASING AA- 10000.00TGS INVESTMENT & TRADE A1+ 7500.00ARCH PHARMALABS F1 7500.00MAGMA FINCORP PR1+ 7500.00SHRIRAM TRANSPORT FINANCE AA 7500.00J K INDUSTRIES PR1 5000.00TURQUOISE INVESTMENT P1+ 5000.00DEWAN HOUSING FINANCE AA+ 5000.00GRABAL ALOK IMPEX PR1 5000.00ARCH PHARMALABS A1 4500.00MAGMA LEASING AA 4500.00COX AND KINGS PR1 2500.00JINDAL STEEL & POWER AA 2500.00FENNER INDIA P1 1000.00Commercial PaperINDIABULLS FINANCIAL SERVICES P1+ 56869.93RELIGARE FINVEST A1+ 56504.51RELIGARE SECURITIES P1+ 47897.12RELIANCE CAPITAL A1+ 47092.96MUNDRA PORT & SEZ A1+ 28441.52JAIPRAKASH ASSOCIATES PR1 28125.23ESSAR STEEL F1 28065.37DEWAN HOUSING FINANCE P1+ 19499.26ERA INFRA ENGINEERING PR1 18915.34BOMBAY RAYON FASHIONS PR1 18830.28H C C PR1+ 16560.86GAMMON PR1+ 9896.29TELEVISION EIGHTEEN A1+(SO) 9630.88ADLABS FILMS A1+ 9607.67RELIANCE MEDIA WORKS A1+ 9499.02EXIM P1+ 9469.70RELIANCE MEDIA WORKS A1 9457.12IL&FS INFRSTUCTURE LEASING A1+ 9444.31SAPOORJI PALLONJI A1+ 9435.43RELIANCE COMMUNICATION PR1+ 9416.32CHOLAMANDALAM DBS FINANCE A1+ 9413.28MERCATOR LINES PR1+ 9391.24FUTURE CAPITAL HOLDINGS PR1+ 9391.24BHUSHAN POWER AND STEEL F1+(SO) 9382.45TATA MOTORS FINANCE A1 9351.84KEC INTERNATIONAL A1 7177.36AFCONS INFRASTRUCTURE P1+ 4717.72ICICI SECURITIES P1+ 4717.72PATEL ENGINEERING PR1+ 4702.23TANTIA CONSTRUCTIONS PR1 4688.87BILT GRAPHIC PAPER F1+ 4667.23BHARAT HOTELS PR1+ 2817.37SP FABRICATORS P1 2810.79PHILIPS CARBON PR1+ 2474.68BHARAT FORGE A1+ 2440.49RAYMOND PR1+ 2439.84KEC INTERNATIONAL A1+ 2425.25PUNJ LLOYD PR1+ 2342.73J K PAPER A1 2317.43E I D PARRY P1+ 1895.11NATIONAL ENGINEERING INDUSTRIES LTD PR1+ 1461.74ELECON ENGINEERING COMPANY PR1+ 1330.49NRB BEARING P1+ 975.94Treasury BillGOI Tbill - 91 Days 11/06/2010 4966.59GOI Tbill - 91 Days 09/07/2010 2972.02C ertificate of DepositI D B I BANK A1+ 58119.96BANK OF BARODA A1+ 48273.60PUNJAB NATIONAL BANK PR1+ 25390.14
Avg. Maturity (in months) : 6.67Avg. Duration (in months) : 6.34
Expense Ratio (as at 30 ) : 2.2 % /04/2010 5
Last 1 year 5.29%Since Inception 7.69%Benchmark (C Fund ~ LX) Return - last 1 year 3.17%
ANNUALISED RETURNS
(Past Performance may or may not be Sustained in Future)
DIVIDEND DECLARED
BANK OF INDIA P1+ 23955.53YES BANK A1+ 21314.05INDIAN BANK F1+ 19749.60AXIS BANK P1+ 19428.02BANK OF INDIA A1+ 18924.18VIJAYA BANK PR1+ 16977.63KARNATAKA BANK A1+ 9682.09ANDHRA BANK F1+ 9607.98UNION BANK OF INDIA A1+ 9447.22H D F C BANK PR1+ 7094.57STATE BANK OF PATIALA A1+ 4900.92CENTRAL BANK OF INDIA PR1+ 4898.46ANDHRA BANK PR1+ 4891.92ORIENTAL BANK OF COMMERCE P1+ 4808.36
Cash ‘n’ Call, Current Assets & Receivables 270484.99
Money Mkt.14.74%
Debt 25.16%
.
Equity60.10%
Mutual Fund Investments are subject to market risks. Please read the scheme information document carefully before investing. Past performance may or may not be sustained in future.
AAA, AA+, P1+ or Equivalent63.55%
Money Market & Other18.26%
P1, , A+Equivalent 18.19%
AA-- or
Index funds are passive funds that replicate their benchmark indices.
Their expense ratio tends to be lower compared to the other fund types as
they are passively managed. The lower the difference between the fund
return and benchmark return the better is the fund tracking its
benchmark.
The table below shows the monthly average fund return vis-à-vis its
benchmark return over a period of 6 months.
Month Mthly AverageFund Benchmark Mthly
Return (%) Return (%)Rp Rb
LICMF Index Nifty TR Rp-RbFund - Nifty Plan Index
Oct-09 -0.3900 -0.3900 0.0000
Nov-09 0.3429 0.3349 0.0080
Dec-09 0.1639 0.1571 0.0068
Jan-10 -0.3269 -0.3280 0.0010
Feb-10 0.0524 0.0534 -0.0011
Mar-10 0.3258 0.3248 0.0010
The scheme has closely tracked its benchmark with an average gain of
0.0026 over six months period.
Investors can take exposure to LICMF Index Fund – Nifty Plan when the
medium to long term outlook on the market is good but volatility
continues in the short run. On one hand where the key indices have
witnessed a fall due the Greece Debt debacle, on the other hand there lies
a good opportunity to take exposure to passive funds on every fall.
Though, in the short-run, the capital markets world over have been
affected, in the long-run Indian market are poised for healthy upside due
to positive monsoon expectations, stronger results and better industry
demand that would drive the GDP to the forecasted level of above 8%.
A decent exposure to passively managed index funds with long-term
perspective is strongly recommended to investors. With the advantage of
diversification, it also spreads the excess volatility due to individual stock
Statutory Details: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Co. Ltd. is the Investment Manager to the Fund. RISK FACTORS: Mutual Funds and Securities investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund will be achieved. As with any investment in stocks and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the securities markets. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Crore towards the setting up of the Mutual Fund. Past performance of the Sponsor/AMC/Mutual Fund does not indicate the future performance of the schemes of the Mutual Fund. The NAV of units of the scheme may be affected by changes in general level of interest rates. Please read the scheme information document carefully before investing.
Investment Manager:
PLACE ADDRESS LANDLINE MOBILE
AHMEDABAD Jeevan Sadan, 3rd Flr, LIC Bldg, Opp. Capital Commercial Center, 9328638838
Investment Objective: The investment objective of the is to generate regular income by investing mainly in quality debt and money market instruments. It also seeks to generate capital appreciation in a long term by investing in equity /equity related instruments. Asset Allocation Pattern: Debt / Money Market: Upto 100%, Equity: Upto 15% Options: The scheme offers two options viz. Dividend and Growth. Under Dividend Option, the investor can choose either dividend payout or dividend reinvestment. Dividend Payout frequency is Monthly, Quarterly & Yearly Entry Load: Nil Exit Load: 1% if exit within 1 year from the date of allotment of units Sale Price: At applicable NAV declared on all Business Days Minimum Investment: Rs.5000/- and thereafter in multiples of Re.1/-.NAV Declaration: NAV calculated upto 4 decimal places and declared on all Business Days Liquidity: The scheme has no lock-in period. Units for repurchase will be available on an ongoing basis, on all Business Days except during book closure, if any. Benchmark: C MiPex Income Tax Benefit: Capital Gain Tax Benefits u/s 48 and 112 of Income Tax Act, 1961.
Risk Factors : Mutual Fund and Securities Investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund will be achieved. As with any investment in securities and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the securities markets. Past performance of the Sponsor / AMC / Mutual Fund does not indicate the future performances of the schemes of the Mutual Fund. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Cr towards the setting up of the Mutual Fund. LICMF Monthly Income Plan is the name of the scheme and does not indicate either the quality of the scheme, its future prospects or returns. The NAV of the units of the scheme may be affected by changes in general level of interest rates. Please read the scheme information document carefully before investing. Statutory Details: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Company Ltd. is the Investment Manager to the Fund.
