Group Fact Sheet

February 2014

Index

Market Outlook

Fund Managers Profile

Fund Performance

Secure Fund

Stable Fund

Growth Fund

Growth Advantage Fund

Money Market Fund

Income Advantage Fund

Gilt Fund

Bond Fund

Fixed Interest Fund

Short Term Debt Fund

Pg 1

Pg 3

Pg 4

Pg 5

Pg 6

Pg 7

Pg 8

Pg 9

Pg 10

Pg 11

Pg 12

Pg 13

Pg 14

as on 28th February 2014

Market Update

1

Economy Review

The Finance Minister presented an interim budget with a revised fiscal deficit estimate of 4.6% of GDP, lower

than the budgeted estimate of 4.8%. Excise duty cuts were also announced for select cyclical sectors - capital

goods pertaining to the machinery and the electrical equipment sector, mobile handsets as well as two

wheelers, cars and SUVs. The two key underlying themes in the vote on account were that of fiscal

consolidation and industrial revival.

The macros are showing signs of improving. 3Q FY14 GDP growth of 4.7% was largely in-line with consensus

expectations. Industrial production growth for December declined 0.6%. Though GDP growth in FY14 is

expected to be below 5%, FY 15 should see growth improving to between 5% - 5.5%. We seem to have seen

the worst in the industrial downturn and manufacturing growth should return as the investment cycle revives.

Both the manufacturing PMI as well as services PMI increased in February 2014. The Manufacturing PMI

moved up to 52.5 from last month's 51.4 and the Services PMI moved up from 48.3 to 48.8.

Inflation prints – CPI at 8.8% and WPI at 5.1% respectively, were significantly lower than consensus

expectations. Vegetable prices have corrected sharply and were the primary driver behind lower inflation

prints. Core inflation remains sticky though, at 8.2%, and RBI remains concerned on this account. RBI is

expected to be extremely cautious as far as monetary easing is concerned and though CPI itself may trend

towards 8%, RBI may postpone any reduction in rates for the present.

The current account deficit (CAD) situation, which was alarming a few months back, has corrected

significantly. The CAD as a percentage of GDP for Q3 FY14 fell to 0.9% and is now expected at less 2% for FY

14. The improved CAD has been because of a shrinking trade deficit on account of lower oil and gold imports

and a pick-up in exports. Government's fiscal finances remain under pressure with lower than expected tax

collection and higher expenditure. The fiscal deficit for the period Apr 2013 -January 2014 stood at 101% of

the budgeted target.

On the whole the macro environment has begun to improve.

10.1

5.4

17.4 18.9

20.2

21.7

16.9

21

31.9

18.1 21.8

5.2

4.2

0

5

10

15

20

25

30

35

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

Current Account Deficit(Figures in $ bn)

Source: RBI

2010-11 2011-12 2012-13 2013-14

7

6

5

4

3

2

1

0

2.3

0.9

2010-11 2011-12 2012-13 2013-14

Current account deficit (% of GDP)

Q1 Q1 Q3Q4 Q4Q3 04 01

Market Update

2

Outlook for equities

Indian equities gained about 3% in February on the back of better macros and improved corporate

performance. The third quarter BSE Sensex earning has been better than consensus estimates. While the

14% sales growth has been in line with expectation, EBIDT growth was significantly higher at 18%. At a sector

level, healthcare, autos and technology showed positive growth. Cement, infrastructure and capital goods

related sectors saw a drop in margins. There were also negative surprises from the PSU Banks, as

deteriorating asset quality impacted them. FIIs buying in February was moderate at USD$ 229 million. Though

domestic mutual funds were sellers to the extent of USD$ 194 million, Insurance funds were net buyers to the

extent of USD$ 240 million.

Market trends in March will be mainly determined by the underlying political narrative. The markets will also

watch to see if the improving trend in macros persists. Equity markets could see a pre election rally. We are

now positive on the long term prospects of equity markets, especially as the prospects of a stable

government at the centre have increased.

Outlook for debt

Bond markets were lackluster and broadly range bound in February and the benchmark security yields moved

in the range of 8.78% to 9.04%, indicating that there was a lot of speculative trading activity. The government

borrowing program for next year has been estimated at Rs 5,97,000 crores, with redemptions estimated at Rs

1,39,679 crores and debt switches estimated at Rs 50,000 crores. In spite of falling inflation the bond markets

remained cautious on account of this large borrowing program. Corporate bond spreads were at 65 bps.

As RBI continues to be concerned about the continuing high inflationary environment, we do not expect RBI

to ease rates in their April policy. We expect the 10 year government bond to trade in the range of 8.75% to

8.95% in the near term. Corporate bond spreads are expected to remain tight at 65 basis points as fresh

issuances are not expected.

28-Feb-14 31-Jan-14 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

BSE NSE

6276.95 6089.50 3.08%

21120.12 20513.85 2.96%

6235.99 6071.02 2.72%

16321.71 15698.85 3.97%

14841.07 14914.53 -0.49%

22836.95 22035.42 3.64%

4308.12 4103.88 4.98%3000

3500

4000

4500

5000

5500

6000

6500

7000

14000

15000

16000

17000

18000

19000

20000

21000

22000

Jan-

14

No

v-1

3

De

c-1

3

Jan

-13

Fe

b-1

3

Fe

b-1

4

Ma

r-1

3

Ap

r-1

3

Ma

y-1

3

Jun

-13

Jul-

13

Au

g-1

3

Sep

-13

Oct

-13

28-Feb-14 31-Jan-14 % ChangeKey Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

MIBOR

Call Rates

8.86% 8.78% 0.90%

8.98% 8.92% 0.67%

9.09% 8.82% 2.97%

8.99% 8.90% 1.00%

8.82% 8.93% -1.25%

7.97% 8.09% -1.51%

5 year AAA Corporate Bond Spread10 Yr G-Sec Yield

perc

en

tag

e (%

)

bp

s

Jan-

14

No

v-1

3

De

c-1

3

Jan

-13

Fe

b-1

3

Fe

b-1

4

Ma

r-1

3

Ap

r-1

3

Ma

y-1

3

Jun

-13

Jul-

13

Au

g-1

3

Sep

-13

Oct

-13

25

50

75

100

125

150

5.0

6.0

7.0

8.0

9.0

Fund Managers Profile

Mr. Devendra Singhvi

Mr. Sameer Mistry

Mr. Parin Vora

Mr. Devendra Singhvi has been with BSLI since May 2006. He has over 16 years of experience in markets such as Fixed Income, Treasury, Forex and Derivatives. His previous three assignments have been with Reliance ADA Group Treasury, Prebon Yamane and Hindalco Industries Ltd. Devendra has done his graduation in Mathematics and an MBA in Finance along with a PhD.

Mr. Devendra Singhvi - Head- Fixed Income

Mr. Sameer Mistry joined BSLI in January 2009. He has over 14 years of experience in Equity Research and Fund Management. Prior to joining us, he worked as a Fund Manager with Reliance Capital Asset Management, Tata Mutual Fund and SBI Life Insurance. Sameer has done his BE (Electronics & Telecom) as well as an MBA in Finance.

Mr. Sameer Mistry - Fund Manager – Equity

Mr. Parin S Vora has been with BSLI since October 2007 and is primarily responsible for Fixed Income trading and Fund Management. He has 14 years of experience in Fixed Income Industry and was associated with Birla Sun Life Securities & Mata Securities. Parin has done his MBA in Finance from Welingkar’s Institute of Management and DPMIR from Narsee Monjee Institute of Management studies.

Mr. Parin S Vora - Chief Manager – Investments

3

thFund Performance as on 28 February 2014

Group Funds Figures in percentage (%)

Absolute Return

CAGR

Returns Period

Absolute Return

CAGR

Returns Money Market Fund


BM BM BMPeriod

0.59%

1.88%

4.56%

8.04%

7.98%

7.96%

7.33%

6.55%

6.87%

0.54%

1.84%

5.17%

7.37%

7.84%

7.95%

7.07%

-

6.59%

0.28%

1.42%

4.33%

3.51%

6.16%

6.81%

-

-

6.29%

0.67%

2.19%

4.49%

8.99%

9.40%

9.38%

8.88%

9.28%

9.56%

0.62%

2.04%

5.12%

8.19%

9.48%

9.48%

8.85%

8.75%

8.87%

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

Absolute Return

CAGR

Returns Gilt Fund Bond Fund Fixed Interest Fund

BM BMPeriod

0.54%

1.84%

5.17%

7.14%

8.01%

8.05%

7.24%

6.61%

6.82%

0.28%

1.42%

4.33%

3.51%

6.16%

6.81%

6.32%

5.88%

4.59%

0.24%

1.22%

3.26%

-0.49%

4.86%

5.36%

5.10%

4.91%

6.06%

0.36%

1.88%

5.21%

6.45%

9.15%

9.37%

8.93%

9.32%

10.86%

0.34%

1.45%

4.36%

5.68%

8.79%

9.19%

8.91%

9.48%

8.47%

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

Secure Fund

1.05%

1.97%

7.05%

4.77%

7.10%

6.88%

6.62%

9.08%

10.42%

BM Stable Fund

1.52%

2.32%

9.15%

5.65%

7.41%

6.74%

6.52%

10.98%

13.13%

BM

1.02%

1.22%

7.38%

5.15%

6.47%

6.21%

5.92%

9.93%

7.95%

Growth Advantage

2.33%

2.89%

12.71%

7.16%

8.09%

6.70%

6.85%

15.25%

11.39%

BM BM

1.34%

1.12%

8.67%

5.78%

6.53%

5.87%

5.66%

11.57%

9.44%

1.55%

1.05%

9.53%

6.16%

6.54%

5.61%

5.46%

12.63%

5.54%

Growth Fund

2.01%

2.68%

11.28%

6.45%

7.68%

6.32%

6.35%

13.20%

14.55%

Income Advantage Fund

0.25%

1.66%

4.82%

3.64%

7.33%

9.55%

-

-

8.66%

Fund Name Benchmark CompositionSecure

Stable

Growth

Growth Advantage

Money Market

Income Advantage

Fixed Interest


Bond Fund

Gilt Fund

BSE 100

BSE 100

BSE 100

BSE 100

-

-

-

-

-

-

Crisil Composite Bond Index




-



Crisil Short Term Bond Index

CRISIL Short Term Bond Index

-

Crisil Liquid Fund Index







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

ULGF00212/06/01BSLGSECURE109

ULGF00312/06/01BSLGSTABLE109

ULGF00112/06/01BSLGGROWTH109

ULGF01026/11/07BSLIGGRADV109

ULGF00824/08/04BSLIGRMMKT109

ULGF01425/02/10BSLGINCADV109

ULGF00416/07/02BSLGFIXINT109ULGF01322/09/08BSLGSHTDBT109

ULGF00530/05/03BSLIGRBOND109

ULGF00630/05/03BSLIGRGILT109

SFIN

4

0.71%

1.31%

6.08%

4.48%

6.37%

6.51%

6.13%

8.23%

6.60%

Assets held as on : ` 728.52 cr28th February 2014

GOVERNMENT SECURITIES: 30.10%

7.16% Government Of India 2023 5.30%










Other Government Securities 6.63%

8.9% Steel Authority Of India Ltd. 2019 2.58%

9.25% PGC. Of India Ltd. 2019 1.47%

9.15% ICICI Bank Ltd. 2022 1.32%

9.95% Tata Motors Ltd. 2020 1.18%

8.58% HDFC. Ltd. 2018 1.13%

9.15% L&T Ltd. 2019 0.96%

10.25% Tech Mahindra Ltd. 2014 0.96%

8% MVM Limited 2017 0.86%

9.7% Power Finance Corpn. Ltd. 2018 0.82%

5.9% HDFC Bank Ltd. 2014 0.82%

Other Corporate Debt 18.61%

Infosys Ltd. 1.54%

ITC Ltd. 1.43%

HDFC Bank Ltd. 1.33%

Reliance Industries Ltd. 1.22%

ICICI Bank Ltd. 1.14%

HDFCorpn. Ltd. 1.12%

Tata Consultancy Services Ltd. 1.10%

L&T Ltd. 0.84%

Tata Motors Ltd. 0.72%

Sun Pharmaceutical Inds. Ltd. 0.64%

Other Equity 8.79%

RATING PROFILE

Exposure to Equities has increased to 19.87 from 19.08%, exposure to G-Secs has decreased 30.10% from 31.18% while that to MMI has increased to 19.31 from 18.26% on a MOM basis. Over 86% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

%

%

Modified Duration: 4.16 years

EQUITY: 19.87%

NAV as on 28th February 2014: ` 35.22

CORPORATE DEBT: 30.71%

Maturity Profile

ASSET ALLOCATION

MMI, : 19.31%Deposits, CBLO & Others

Objective:

Strategy:

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

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

Fund Snapshot Know the Fund Better

Group Secure FundManager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 12 years

ULGF00212/06/01BSLGSECURE109

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

5

SECTORAL ALLOCATION

Portfolio as on Friday, February 28, 2014

1.29%A+

Maturity Profile

AAA35.46%

AA3.82%

Secure BM

1.29 %

1.37 %

1.52 %

2.14 %

2.85 %

3.09 %

4.24 %

5.95 %

8.18%

10.13%

10.52%

10.91%

17.97%

19.84%

CEMENT

DIVERSIFIED

MEDIA

ALCOHOL BEVERAGES

OTHERS

TELECOMMUNICATION

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

PHARMACEUTICALS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING

7 years & above2 to 7 years

Less than 2years

43.92%

24.27% 31.81%

19.31%

MMI, Deposits,

CBLO & Others

19.87%

Equities

NCD30.71%

G-Secs

30.10%

AA+5.53% 3.05%

AA-

2.66%A1+

48.18%Sovereign

Oct

-05

Mar

-06

Aug

-06

Jan-

07Ju

n-07

Nov

-07

Apr

-08

Sep

-08

Feb

-09

Jul-0

9D

ec-0

9M

ay-1

0

Oct

-10

Mar

-11

Aug

-11

Jan-

12

Jun-

12N

ov-1

2A

pr-1

3S

ep-1

3

Feb

-14














8.65% REC. Ltd. 2019 4.01%

10.1% PGC. Of India Ltd. 2017 2.15%

9.25% LIC Housing Finance Ltd. 2023 1.90%


9.6% HDFC. Ltd. 2016 1.28%

9.4% NABARD 2016 1.27%

10.85% REC. Ltd. 2018 1.11%


9.33% 2017 1.05%



NABARD

Infosys Ltd. 2.67%

ITC Ltd. 2.49%




HDFC. Ltd. 1.93%


L&T Ltd. 1.46%



Other Equity 15.50%

RATING PROFILE

Over 95% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio. Top 4 equity sectors remain same as the previous month.


EQUITY: 34.75%



Maturity Profile

ASSET ALLOCATION

MMI, Deposits, CBLO & Others: 14.77%

SECTORAL ALLOCATION

Objective:

Strategy:

Helps you to grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return.

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


Group Stable FundManager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 11 years

ULGF00312/06/01BSLGSTABLE109



6

AA+3.51% AA-

0.16%

AA1.68%

Stable BM

1.30 %

1.49%

1.50 %

2.26 %

2.89%

3.08%

4.21%

5.96%

8.08%

10.31%

10.45%

10.96%

17.89%

19.63%

CEMENT

DIVERSIFIED

MEDIA

ALCOHOL BEVERAGES

OTHERS

TELECOMMUNICATION

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

PHARMACEUTICALS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

50.22%

23.64% 26.14%

NCD21.50%

28.97%G-Secs

34.75%

Equities

MMI, Deposits,

CBLO & Others14.77%

Sovereign57.41%

AAA37.23%

Oct

-05

Mar-

06

Aug-0

6

Jan-0

7

Jun-0

7

Nov-

07

Apr-

08

Sep-0

8

Feb-0

9

Jul-09

Dec-

09

May-

10

Oct

-10

Mar-

11

Aug-1

1

Jan-1

2

Jun-1

2

Nov-

12

Apr-

13

Sep-1

3

Feb-1

4















10.15% Kotak Mahindra Prime Ltd. 017 1.49%

5.9% HDFC Bank Ltd. 2014 1.48%

NABARD 2017 1.29%


7.6% HDFC. Ltd. 2017 1.15%

9.655% 2014 1.14%


9.05% State Bank Of India 2020 1.06%

8.2% Ashok Leyland Ltd. 2015 0.82%


NABARD

Infosys Ltd. 3.81%

ITC Ltd. 3.55%





HDFC. Ltd. 2.72%

L&T Ltd. 2.08%



Other Equity 21.92%

RATING PROFILE



EQUITY: 49.30%



Maturity Profile

ASSET ALLOCATION


SECTORAL ALLOCATION

Objective:

Strategy:

To achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security.

To ensure capital appreciation by simultaneously investing into fixed income securities and maintaining diversified equity portfolio. Active fund management is carried out to enhance policy holder’s wealth in long run.


Group Growth FundManager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 11 years

ULGF00112/06/01BSLGGROWTH109



7

AA1.07%

G-Secs

22.03%

Gr. Growth BM

1.30%

1.48%

1.50%

2.26%

2.85%

3.10%

4.21%

6.04%

7.91%

10.31%

10.46%

10.89%

17.99%

19.70%

CEMENT

DIVERSIFIED

MEDIA

ALCOHOL BEVERAGES

OTHERS

TELECOMMUNICATION

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

PHARMACEUTICALS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

48.95%

22.74% 28.31%

MMI, Deposits,

CBLO & Others9.53%

NCD19.14%

49.30%Equities

AAA37.29%

53.51%Sovereign

AA+5.11% A+

3.01%

Oct-

05

Mar-

06

Aug-0

6

Jan-0

7

Jun-0

7

Nov-0

7

Apr-

08

Sep-0

8

Feb-0

9

Jul-09

Dec-0

9

May-1

0

Oct-

10

Mar-

11

Aug-1

1

Jan-1

2

Jun-1

2

Nov-1

2

Apr-

13

Sep-1

3

Feb-1

4













8.83% Export Import Bank Of India 2023 4.95%


6.1% NPC. Of India Ltd. 2014 2.62%

8.95% HDFC Bank Ltd. 2022 1.50%

2% Indian Hotels Co. Ltd. 2014 1.41%


11.95% HDFC. Ltd. 2018 0.57%

Infosys Ltd. 4.55%

ITC Ltd. 4.25%





HDFC. Ltd. 3.27%

L&T Ltd. 2.47%



Other Equity 26.35%

RATING PROFILE



EQUITY: 59.11%



Maturity Profile

ASSET ALLOCATION


Gr. Advantage BM

SECTORAL ALLOCATION

Objective:

Strategy:

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

The Strategy of the fund is to build and actively manage a welldiversified equity portfolio of value & growth driven stocks by following a research-focused investment approach. While appreciating the high risk associated with equities, the fund would attempt to maximize the riskreturnpay-off for the long-term advantage of the policyholders. The nonequity portion of the fund will be invested in high rated debt and money market instruments and fixed deposits.


Group Growth Advantage FundManager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 11 years

ULGF01026/11/07BSLIGGRADV109



8

59.11%Equities

Sovereign60.51%

1.31%

1.42 %

1.50 %

2.25 %

2.78 %

3.10 %

4.18 %

5.92%

8.04%

10.33%

10.64 %

10.96 %

17.93 %

19.64%

CEMENT

DIVERSIFIED

MEDIA

ALCOHOL BEVERAGES

OTHERS

TELECOMMUNICATION

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

PHARMACEUTICALS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

68.91%

8.99% 22.10%

G-Secs23.11%

NCD15.08%

MMI, Deposits,

CBLO & Others2.69%

AA3.70%

AAA35.80%

Nov-

09

Feb-1

0

May-

10

Aug-1

0

Nov-

10

Feb-1

1

May-

11

Aug-1

1

Nov-

11

Feb-1

2

May-

12

Aug-1

2

Nov-

12

Feb-1

3

May-

13

Aug-1

3

Nov-

13

Feb-1

4


100% of the fund is invested in highest rated instruments.The fund continues to maintain very low maturity profile.

Modified Duration: 0.28 yearsNAV as on 28th February 2014: ` 22.58

Objective:

Strategy:

The primary objective of this BSLI Fund Option is to provide reasonable returns, at a high level of safety and liquidity for capital conservation for the Policyholder

The strategy of this BSLI Fund Option is to make judicious investments in high quality debt and money market instruments to protect capital of the Policyholder with very low level of risk.


Group Money Market FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF00824/08/04BSLIGRMMKT109

Benchmark: CRISIL Liquid Fund Index


9

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATION

MMI, Deposits,

CBLO & Others100.00%

RATING PROFILE

A1+100.00%


MM BM

Nov-

09

Feb-1

0

May-

10

Aug-1

0

Nov-

10

Feb-1

1

May-

11

Aug-1

1

Nov-

11

Feb-1

2

May-

12

Aug-1

2

Nov-

12

Feb-1

3

May-

13

Aug-1

3

Nov-

13

Feb-1

4

Exposure to Corporate Debt has increased to 27.44% from 20.19% while that to MMI has increased to 72.56% from 71.81% on a MOM basis. Over 78% of the fund is invested in highest rated instruments.


9.75% HDFC. Ltd. 2016 3.42%

10.12% Aditya Birla Finance Ltd. 2015 3.12%

9.95% L&T Finance Ltd. 2016 3.10%

8.97% EID-Parry (India) Ltd. 2016 3.02%

8.95% L&T Shipbuilding Ltd 2017 2.58%

10.1% HDB Financial Services Ltd 2015 2.35%

10.05% Can Fin Homes Ltd. 2017 2.33%


Tata Motors Finance Ltd. 2015 1.80%





Benchmark: CRISIL Short Term Bond Index

Objective:

Strategy:

The objective of the fund is to provide capital preservation at a high level of safety & liquidity through judicious investments in high quality short‐term debt instruments.

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


Group Short Term Debt FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF01322/09/08BSLGSHTDBT109

Assets held as on : ` 64.21 cr28th February 2014 Modified Duration: 0.85 years


10

Maturity Profile

ASSET ALLOCATIONRATING PROFILE

AA

2.96%

BMShort Term Debt

2 to 7 years

Less than 2 years

23.11%

76.89%

NCD27.44%

MMI, Deposits,

CBLO & Others

72.56%

A1+55.05%

AAA23.04%

AA+14.01%

AA-

4.95%

Nov-

10

Feb-1

1

May-

11

Aug-1

1

Nov-

11

Feb-1

2

May-

12

Aug-1

2

Nov-

12

Feb-1

3

May-

13

Aug-1

3

Nov-

13

Feb-1

4


84% of the fund remains invested in highest rated instruments.


10.05% Can Fin Homes Ltd. 2017 9.60%


9.74% Tata Sons Ltd. 2024 8.74%

10.3% Tata Motors Ltd. 2018 5.79%


9.02% REC. Ltd. 2022 3.89%

9.25% PGC. Of India Ltd. 2020 3.54%

9.9% HDFC. Ltd. 2018 0.29%

9.15% ICICI Bank Ltd. 2022 0.28%


Benchmark: Crisil Composite Bond index & Crisil Liquid Fund Index

Objective:

Strategy:

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

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


Group Income Advantage FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF01425/02/10BSLGINCADV109


Maturity Profile















Gr. Inc Adv BM

11

6.41%

MMI, Deposits,

CBLO & Others


Less than 2years

66.64%

28.49%

4.87%

NCD46.55%

47.04%G-Secs

AA+

10.26%AA

6.19%AAA33.29%

50.26%

Sovereign

Au

g-1

1

No

v-11

Fe

b-1

2

Ma

y-1

2

Au

g-1

2

No

v-1

2

Fe

b-1

3

Ma

y-1

3

Au

g-1

3

No

v-1

3

Fe

b-1

4


Exposure to G-Secs has increased to 91.57% from 7.79% while that to MMI has decreased to 8.43% from 92.21% on a MOM basis.


Objective:

Strategy:

The fund aims to deliver safe and consistent returns over along-term period by investing in Government Securities.

Active fund management at very low level of risk by having entire exposure to government securities & money market instruments, maintaining medium term duration of the portfolio to achieve capital conservation.


Group Gilt FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF00630/05/03BSLIGRGILT109














Maturity Profile

ASSET ALLOCATION


RATING PROFILE

12

Sovereign100.00%

7 years & above

Less than 2 years

93.50%

6.50%

MMI, Deposits,

CBLO & Others

8.43%

91.57%G-Secs


Exposure to Corporate Debt has increased to 68.70% from 62.80% while that to MMI has decreased to 31.30% from 37.20% on a MOM basis. Over 82% of the fund remainsinvested in highest rated instruments.


Objective:

Strategy:

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

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


Group Bond FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF00530/05/03BSLIGRBOND109


9.74% Tata Sons Ltd. 2024 7.10%

8.54% NPC. Of India Ltd. 2023 4.06%

9.15% ICICI Bank Ltd. 2022 2.91%

10.18% LIC Housing Finance Ltd. 2016 2.53%

9.55% Hindalco Industries Ltd. 2022 2.51%

9.18% HDFC. Ltd. 2018 2.33%


10.05% Can Fin Homes Ltd. 2017 2.16%

10.05% Can Fin Homes Ltd. 2017 2.16%

10.05% Bajaj Finance Ltd. 2017 2.16%



Benchmark: CRISIL Short Term Bond Index

Maturity Profile


13



Less than 2years

29.22%

43.24%

27.54%

MMI, Deposits,

CBLO & Others31.30%

NCD68.70%

AAA74.61%

12.07%AA+ A1+

7.84%AA-

4.35% AA1.13%


Exposure to Corporate Debt has increased to 32.83% from 31.86%, to G-Secs it has increased to 43.28% from 42.80% and to MMI, it has decreased to 23.89% from 25.34% on a MOM basis. Over 88% of the fund remains invested in highest rated instruments.


Objective:

Strategy:

The Fixed Interest Fund, with full exposure in debt market instrument, aims to achieve value creation at low risk over a long-term horizon by investing into high quality fixed interest securities.

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


Group Fixed Interest FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF00416/07/02BSLGFIXINT109













9.95% State Bank Of India 2026 2.37%

9.64% PGC. Of India Ltd. 2021 2.07%


9.55% Hindalco Industries Ltd. 2022 1.82%

9.35% PGC. Of India Ltd. 2018 1.74%



Tata Motors Finance Ltd. 2015 1.30%

10.6% IRFC. Ltd. 2018 1.08%

10.32% Sundaram Finance Ltd. 2018 1.05%



Maturity Profile

ASSET ALLOCATION

Benchmark: Crisil Composite Bond index & Crisil Liquid Fund Index



14

RATING PROFILE

6.95%A1+

AA3.90%

0.89%AA-

FIF BM


Less than 2years

58.96%

19.94% 21.10%

43.28%G-SecsNCD

32.83%

MMI, Deposits,

CBLO & Others23.89%

52.92%Sovereign

AAA28.31%

7.04%AA+

Oct

-05

Ma

r-0

6

Au

g-0

6

Jan

-07

Jun

-07

No

v-0

7

Ap

r-0

8

Se

p-0

8

Fe

b-0

9

Jul-0

9

De

c-0

9

Ma

y-1

0

Oct

-10

Ma

r-11

Au

g-1

1

Jan

-12

Jun

-12

No

v-1

2

Ap

r-1

3

Se

p-1

3

Fe

b-1

4

Date post:	10-Feb-2017
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