Invest Update Group FactSheet - Life Insurance€¦ · yields are still high. The benchmark yield...

IndexMarket Outlook Pg 1

Fund Managers Profile Pg 2

Fund Performance Pg 3

Secure Fund Pg 4

Stable Fund Pg 5

Growth Fund Pg 6

Growth Advantage Fund Pg 7

Money Market Fund Pg 8

Short Term Debt Fund Pg 9

Income Advantage Fund Pg 10

Gilt Fund Pg 11

Bond Fund Pg 12

Fixed Interest Fund Pg 13

Market Update

1

FII MF

31-Aug-13 31-Jul-13 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

5471.80 5742.00 -4.71%

18619.72 19345.7 -3.75%

5447.15 5707.16 -4.56%

14810.31 15499.54 -4.45%

13388.86 13668.32 -2.04%

21731.37 21883.66 -0.70%

3589.87 3626.37 -1.01%

BSE NSE

3000

3500

4000

4500

5000

5500

6000

6500

14000

15000

16000

17000

18000

19000

20000

21000

22000

Jul-

12

Au

g-1

2

Se

p-1

2

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Fe

b-1

3

Ma

r-1

3

Ap

r-1

3

Ma

y-1

3

Jun

-13

Jul-

13

Au

g-1

3

(2500)

(1500)

(500)

500

1500

2500

3500

4500

5500

Au

g 1

2

Se

p 1

2

Oc

t 12

No

v 1

2

De

c 1

2

Jan

13

Fe

b 1

3

Ma

r 13

Ap

r 13

Ma

y 1

3

Jun

13

Jul 1

3

Au

g 1

3

In U

S $

MN

45

50

55

60

65

70

Jun-

12

Jul-1

2

Aug

-12

Sep

-12

Oct

-12

No

v-12

Dec

-12

Jan-

13

Feb

-13

Mar

-13

Ap

r-13

May

-13

Jun-

13

Jul-1

3

Aug

-13

` v/s USD

The Indian economy continues to face challenges. GDP growth for 1QFY14 has been much lower at 4.4%. While

agriculture grew at 2.7% and services at 6.6%, there has been a significant slowdown in the industrial sector, which

grew at just 0.2%. Industrial growth will continue to remain subdued for some time and the sharp contraction in

manufacturing is reflected in the HSBC Manufacturing PMI falling below 50.

The rupee depreciated by about 9% in August, hitting an all time high of Rs.68.82 per USD towards the end of

August. Both the Government and the RBI continued their defense of the rupee and announced a series of steps to

curtail the rupee fall. These include a reduction in the cap on capital invested under the automatic route by Indian

companies from four times to one time their net worth, increase in the import duty on gold from 8% to 10% and an

announcement of a FX swap window for PSU oil companies.

The momentum on the reform front continues. The Lok Sabha passed the Pension Fund Regulatory and

Development Authority (PFRDA) bill. This bill allows 26% foreign investment in the Pension sector. It is expected that

more Pension Fund Management companies will be enthused to set up shop in India and channelize long term retail

savings into asset markets. The Cabinet Committee on Investments has cleared a further 34 infrastructure projects

involving investments of nearly Rs.1.4 lakh crores. These include 17 power projects with investments of over

Rs.95,000 crores. The investment cycle will gradually revive once implementation of these projects start. The Food

security bill was cleared ensuring food and nutritional security to 67% of Indian population. The Land Acquisition bill

was also cleared, resulting in a fair deal for farmers and other landowners, while at the same time making the process

of land acquisition more transparent and hassle free.

September started on a positive note with Dr. Raghuram Rajan, the new RBI Governor, announcing a series of

measures to stabilize the rupee. The most important measure announced was to create a new swap window to

attract foreign currency non-resident deposits. The rupee has shown some respite on these announcements as it is

estimated that this measure will help boost capital flows to the country to the tune of another US$8-10bn over the

next 3-months.

Market Update

31-Aug-13 31-Jul-13 % ChangeKey Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

MIBOR

Call Rates

8.61% 8.17% 5.11%

9.40% 8.87% 5.64%

11.16% 10.70% 4.12%

9.88% 9.88% 0.00%

11.14% 10.61% 4.76%

10.26% 10.00% 2.53%

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

Jun

-12

Jul-

12

Aug

- 12

Jun

-13

Jul-

13

Au

g-1

3

Sep

-12

-O

ct

12

Nov-1

2

Dec-1

2

Jan-1

3

Feb

-13

Ma

r-13

Ap

r-1

3

Ma

y- 1

3

25

50

75

100

125

150

5.0

6.0

7.0

8.0

9.0

perc

en

tag

e (%

)

bp

s

Outlook for equities

Indian equities lost a significant 4.7% in August, reflecting concerns on capital funding risks for our current account

deficit (CAD). With positive US macro – economic data and fears of QE tapering, the FII outflows continued from the

equity markets. The flight to safety has become the norm for global investors and has been especially high in

countries like India where the currency depreciation on account of the high current account deficit has been

significant.

The frontline indices corrected by 10-12% in August and valuations at 14xFY14e Sensex earnings are quite

attractive for long term investors. Equity investors are keenly watching to see if the measures from the government

and RBI will stabilize the rupee and catalyze growth.

Outlook for debt

Bond markets remained lackluster in August. With the liquidity tightening measures by RBI still in force, short term

yields are still high. The benchmark yield on 10-year government bond yield traded at levels of 9.47%. Currently,

the yield curve continues to be inverted with short term yields much higher than longer term (i.e. 10 yrs and above)

yields.

RBI announced a series of measure to stabilize the long end of the yield curve. These include OMO purchases,

allowing banks to transfer SLR from their available for sale (AFS) book to their held to maturity (HTM) book and

calibration of their cash management bills issuances. We expect the 10-year government bond to trade in a range

of 8.25% to 8.50 % in near term and corporate bond spreads to widen to 80 basis points.

2

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

Fund Managers Profile

FUND PERFORMANCE AS ON 31 AUGUST 2013Life Funds Figures in percentage (%)

Absolute Return

CAGR

Returns Period

Absolute Return

CAGR

Returns Money Market Fund

Short Term Debt Fund

BM BM BMPeriod

0.70%

1.41%

3.33%

7.10%

7.69%

7.52%

6.48%

6.57%

6.64%

0.11%

-0.61%

2.09%

6.01%

7.19%

6.91%

6.33%

-

6.11%

-0.90%

-4.99%

-0.79%

3.89%

6.19%

6.03%

-

-

5.91%

0.71%

2.08%

4.31%

9.26%

9.37%

9.17%

8.32%

10.13%

9.58%

0.29%

0.14%

2.93%

7.95%

9.03%

8.82%

8.29%

-

8.69%

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

-1.11%

0.07%

2.08%

7.15%

7.87%

6.99%

6.35%

7.36%

6.58%

-0.90%

-4.99%

-0.79%

3.88%

6.18%

6.03%

5.93%

6.66%

4.36%

-1.97%

-9.27%

-3.64%

3.25%

5.00%

5.05%

4.76%

8.81%

6.02%

-0.29%

-2.93%

1.18%

7.04%

9.00%

8.40%

8.72%

11.44%

10.87%

-0.31%

-3.71%

1.27%

7.35%

9.62%

8.78%

9.17%

12.72%

8.45%

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

-1.81%

-5.82%

-2.12%

3.69%

5.86%

4.75%

5.94%

8.91%

10.25%

BM

-1.54%

-5.72%

-1.51%

3.81%

5.74%

4.78%

5.47%

6.50%

6.29%

Stable Fund

-2.36%

-6.71%

-3.20%

2.97%

5.26%

3.55%

5.60%

8.65%

12.88%

BM

-2.04%

-6.28%

-2.07%

3.71%

5.35%

3.78%

5.07%

6.24%

7.57%

Growth Advantage

-3.40%

-8.02%

-4.92%

2.24%

4.45%

2.10%

6.28%

11.50%

10.07%

BM BM

-2.54%

-6.86%

-2.66%

3.57%

4.90%

2.74%

4.61%

5.86%

9.00%

-2.87%

-7.25%

-3.07%

3.46%

4.58%

2.02%

4.28%

5.54%

4.30%

Growth Fund

-2.99%

-7.44%

-4.34%

2.15%

4.57%

2.18%

5.69%

9.63%

14.17%

Income Advantage Fund

-1.23%

-5.94%

-1.13%

4.61%

7.39%

9.05%

-

-

8.48%

3

Fund Name Benchmark Composition

Secure

Stable

Growth

Growth Advantage

Money Market

Income Advantage

Fixed Interest

Short Term Debt Fund

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.

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

Group Secure FundFund Manager: Sameer Mistry (Equity) & Devendra Singhvi (Debt) | Total Experience: 9 years & 12 years | Portfolio as on Saturday, August 31, 2013

ULGF00212/06/01BSLGSECURE109

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.

Know the Fund Better:Exposure to Equities has slightly decreased to 19.06% from 19.11%, exposure to G-Secs has slightly increased to 27.31% from 27.10% while that to MMI has decreased to 19.06% from 20.05% 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.

Fund Snapshot

SECURITIES HOLDING

GOVERNMENT SECURITIES 27.31%

CORPORATE DEBT 34.57%

EQUITY 19.06%

19.06%

8.33% Government Of India 2026 4.36%










Other Government Securities 5.49%

8.9% Steel Authority Of India Ltd. 2019 2.26%

9.25% Power Grid Corpn. Of India Ltd. 2019 1.29%

9.15% ICICI Bank Ltd. 2022 1.17%

9.95% Tata Motors Ltd. 2020 1.03%


8.58% Housing Development Finance Corpn. Ltd. 2018 0.99%

11.5% Rural Electrification Corpn. Ltd. 2013 0.96%

9.5% Rallis India Ltd. 2013 0.94%

1.25% Tech Mahindra Ltd. 2014 0.84%

9.15% Larsen And Toubro Ltd. 2019 0.84%

Other Corporate Debt 23.25%

ITC Ltd 1.64%

Reliance Industries Ltd 1.48%

Infosys Ltd 1.43%

HDFC Bank Ltd 1.18%

Housing Development Finance Corpn. Ltd 1.05%

ICICI Bank Ltd 1.00%

Tata Consultancy Services Ltd 0.88%

Larsen And Toubro Ltd 0.66%

Dr. Reddys Laboratories Ltd 0.53%

Sun Pharmaceutical Inds. Ltd 0.52%

Other Equity 8.67%

MMI, Deposits, CBLO & Others

Assets held as on 31st August 2013: ` 821.81 cr

Rating Profile

Asset Allocation

Sectoral Allocation

Maturity Profile

Modified Duration: 4.11 years NAV as on 31st August 2013: ` 32.90

4

37.73%

22.63%

39.63%

Less than 2 years 2 to 7years 7years & above

NCD

19.06%

MMI, Deposits,

CBLO & Others19.06%

34.57%G-Secs

27.31%

Equities

AA5.23%AAA

40.13%A1+

2.33%

AA+

5.46%AA-

3.75%

Sovereign43.11%

0.83%

1.03%

1.06%

1.70%

1.86%

2.19%

3.10%

3.46%

4.32%

6.92% 7.53%

10.85%

10.95%

12.35%

15.29%

16.55%

OTHERS

MEDIA AND ENTERTAINMENT

CEMENT

POWER

DIVERSIFIED

ALCOHOL BEVERAGES

TELECOMMUNICATION

METAL

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

FMCG

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING

Group Stable FundFund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 11 years | Portfolio as on Saturday, August 31, 2013

ULGF00312/06/01BSLGSTABLE109

SECURITIES HOLDING



EQUITY 33.28%

12.61%













9.4% National Housing Bank 2013 2.07%


8.9% Power Finance Corpn. Ltd. 2014 2.05%

9.25% LIC Housing Finance Ltd. 2023 1.83%



9.4% NABARD 2016 1.21%

10.48% Ultratech Cement Ltd. 2013 1.20%



ITC Ltd. 2.87%

Reliance Industries Ltd. 2.58%

Infosys Ltd. 2.50%

HDFC Bank Ltd. 2.06%

Housing Development Finance Corpn. Ltd. 1.83%

ICICI Bank Ltd. 1.75%

Tata Consultancy Services Ltd. 1.54%

Larsen And Toubro Ltd. 1.15%

Dr. Reddys Laboratories Ltd. 0.94%

Sun Pharmaceutical Inds. Ltd. 0.91%

Other Equity 15.16%


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.

Fund Snapshot

Know the Fund Better:Over 97% 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.

Rating Profile

Asset Allocation

Sectoral Allocation

Maturity Profile

5


Modified Duration: 4.13 years NAV as on 2013: ` 42.8431st August

0.94%

1.03%

1.06%

1.70%

1.77%

2.18%

3.09%

3.46%

4.31%

6.92%

7.52%

10.85%

10.96%

12.33%

15.31%

16.57%

OTHERS


CEMENT

POWER

DIVERSIFIED

ALCOHOL BEVERAGES

TELECOMMUNICATION

METAL

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

FMCG

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING

34.36%

21.96%

43.68%

Less than 2 years 2 to 7 years 7 years & above

MMI, Deposits,

CBLO & OthersG-Secs

NCDEquities

12.61%26.66%

27.44%33.28%

Sovereign49.28%

AA+

0.14%

AA1.60%1.50%

AAA47.48%

AA-

Group Growth FundFund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 11 years | Portfolio as on Saturday, August 31, 2013

ULGF00112/06/01BSLGGROWTH109

6

SECURITIES HOLDING



EQUITY 47.45%

13.62%













5.9% HDFC Bank Ltd. 2014 1.48%

National Bank For Agri. And Rural Development 2017 1.26%



9.655% NABARD 2014 1.16%


9.05% State Bank Of India 2020 1.08%

8.2% Ashok Leyland Ltd. 2015 0.83%



ITC Ltd. 4.08%


Infosys Ltd. 3.55%








Other Equity 21.60%


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 enhnce policyholder’s wealth in

long run.

Fund Snapshot


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.

Rating Profile

Asset Allocation

Sectoral Allocation

Maturity Profile



0.89%

1.04%

1.06%

1.70%

1.74%

2.18%

3.09%

3.47%

4.33%

6.92%

7.51%

10.82%

10.97%

12.35%

15.33%

16.60%

OTHERS


CEMENT

POWER

DIVERSIFIED

ALCOHOL BEVERAGES

TELECOMMUNICATION

METAL

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

FMCG

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING

36.72%

18.86%

44.42%


G-Secs21.01%

Equities47.45%

NCD17.92%

MMI, Deposits,

CBLO & Others13.62%

AA+1.50%

Sovereign49.82%

AA-2.97%

A1+7.69%AAA

36.96% AA1.06%

Group Growth Advantage FundFund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 9 years & 11 years | Portfolio as on Saturday, August 31, 2013

ULGF01026/11/07BSLIGGRADV109

SECURITIES HOLDING



EQUITY 56.49%

9.14%











8.83% Export Import Bank Of India 2023 3.74%




6.1% Nuclear Power Corpn. Of India Ltd. 2014 1.94%

8.95% HDFC Bank Ltd. 2022 1.13%

2% Indian Hotels Co. Ltd. 2014 1.02%



ITC Ltd. 4.89%


Infosys Ltd. 4.25%








Other Equity 25.48%


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 well-

diversified equity portfolio of value & growth driven stocks by following a

research-focused investment approach. While appreciating the high risk

associated with equities, the fund would attempt to maximize the risk-

return pay-off for the long-term advantage of the policyholders. The non-

equity portion of the fund will be invested in high rated debt and money

market instruments and fixed deposits.

Fund Snapshot


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

Rating Profile

Asset Allocation

Sectoral Allocation

Maturity Profile

7



0.67%

1.03%

1.07%

1.48%

1.72%

2.18%

3.10%

3.18%

4.59%

6.97%

7.51%

10.88%

11.05%

12.48%

15.38%

16.70%

OTHERS


CEMENT

DIVERSIFIED

POWER

ALCOHOL BEVERAGES

TELECOMMUNICATION

METAL

CAPITAL GOODS

FINANCIAL SERVICES

AUTOMOBILE

FMCG

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING

32.09%

18.82%

49.09%


NCD16.76%

Equities56.49%

G-Secs17.60%

MMI, Deposits,

CBLO & Others9.14%

AAA42.57%

Sovereign54.68%

AA2.74%

Group Money Market FundFund Manager: Devendra Singhvi | Total Experience: 12 years |Portfolio as on Saturday, August 31, 2013

ULGF00824/08/04BSLIGRMMKT109

SECURITIES HOLDING

100.00%MMI, Deposits, CBLO & Others

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.

Fund Snapshot

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

Rating Profile

Asset Allocation

Maturity Profile

MMI, Deposits,

CBLO & Others

100.00%

8



A1+

Sovereign19.50%

80.50%

100.00 %

Less than 2 years

Group Short Term Debt FundFund Manager: Devendra Singhvi | Total Experience: 12 years |Portfolio as on Saturday, August 31, 2013

ULGF01322/09/08BSLGSHTDBT109

SECURITIES HOLDING


60.42%


8.97% EID-Parry (India) Ltd. 2016 8.51%

8.95% L And T Shipbuilding Ltd 2017 7.27%

8.8% Hdb Financial Services Ltd 2016 6.44%

8.85% Tata Sons Ltd. 2023 4.19%

9.7% Sundaram Finance Ltd. 2014 2.19%


Fund Snapshot

Objective:

Strategy:

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.

The objective of the fund is to provide capital preservation at a Know the Fund Better:Exposure to Corporate Debt has decreased to 39.58% from 49.46% while that to MMI has increased to 60.42% from 50.54% on a MOM basis. Over 87% of the fund is invested in highest rated instruments.

Rating Profile

Asset Allocation

Maturity Profile

9



72.85%

22.84% 4.31%


MMI, Deposits,

CBLO & Others

60.42%

39.58%NCD

A1+51.61%

AA10.40%

35.31%AAA AA+

2.67%

Group Income Advantage FundFund Manager: Devendra Singhvi | Total Experience: 12 years |Portfolio as on Saturday, August 31, 2013

ULGF01425/02/10BSLGINCADV109

SECURITIES HOLDING














9.65% Cholamandalam Investment And Fin Co. Ltd. 2018 4.12%


8.85% Tata Sons Ltd. 2023 2.02%

10.6% Indian Railway Finance Corpn. Ltd. 2018 0.44%

10.48% Ultratech Cement Ltd. 2013 0.43%






29.40%

Fund Snapshot

Objective:

Strategy:

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.

To provide capital preservation and regular income, at a high Know the Fund Better:100% of the fund remains invested in highest rated instruments.

Rating Profile

Asset Allocation

Maturity Profile

10



22.97% 29.39%

47.63%


G-Secs31.09%

MMI, Deposits,

CBLO & Others

39.51%

NCD

29.40%

Sovereign52.90%

AAAA+5.51%5.71%AAA

30.40%

A1+5.47%

Group Gilt FundFund Manager: Devendra Singhvi | Total Experience: 12 years |Portfolio as on Saturday, August 31, 2013

ULGF00630/05/03BSLIGRGILT109

SECURITIES HOLDING













12.62%

Fund Snapshot

Objective:

Strategy:

long-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.

The fund aims to deliver safe and consistent returns over a Know the Fund Better:Exposure to G-Secs has increased to 87.38% from 79.07% while that to MMI has decreased to 12.62% from 20.93% on a MOM basis.

Rating Profile

Asset Allocation

Maturity Profile

11


Modified Duration: 6.83 years NAV as on : ` 17.2831st August

10.96%

89.04%

Less than 2 years 7 years & above

MMI, Deposits,

CBLO & Others

12.62%

G-Secs87.38%

Sovereign100.00%

Group Bond FundFund Manager: Devendra Singhvi | Total Experience: 12 years |Portfolio as on Saturday, August 31, 2013

ULGF00530/05/03BSLIGRBOND109

SECURITIES HOLDING


40.04%


8.54% Nuclear Power Corpn. Of India Ltd. 2023 4.03%


9.15% ICICI Bank Ltd. 2022 2.89%

9.55% Hindalco Industries Ltd. 2022 2.49%

9.57% LIC Housing Finance Ltd. 2017 2.10%



9.15% Axis Bank Ltd. 2022 2.06%




Fund Snapshot

Objective:

Strategy:

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.

The fund aims to achieve capital preservation along with

Know the Fund Better:Exposure to Corporate Debt has decreased to 59.96% from 60.50% while that to MMI has slightly increased to 40.04% from 39.50% on a MOM basis. Over 91% of the fund remains invested in highest rated instruments.

Rating Profile

Asset Allocation

Maturity Profile

12



MMI, Deposits,

CBLO & Others

40.04%

NCD59.96%

AAA72.03%

AA AA-2.88% 2.72%

16.21%A1+

6.17%AA+

40.29% 38.98%

20.73%


Group Fixed Interest FundFund Manager: Devendra Singhvi | Total Experience: 12 years |Portfolio as on Saturday, August 31, 2013

ULGF00416/07/02BSLGFIXINT109

Fund Snapshot

Objective:

Strategy:

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.

The Fixed Interest Fund, with full exposure in debt market

SECURITIES HOLDING



46.80%









8.8% State Government Of Andhra Pradesh 2022 1.28%



9.55% Hindalco Industries Ltd. 2022 2.37%



9.95% State Bank Of India 2026 1.36%









Know the Fund Better:Exposure to Corporate Debt has decreased to 23.21% from 29.88%, to G-Secs it has increased to 29.99% from 28.60% and to MMI, it has increased to 46.80% from 41.52% on a MOM basis. Over 90% of the fund remains invested in highest rated instruments.

Rating Profile

Asset Allocation

Maturity Profile

13



MMI, Deposits,

CBLO & Others

NCD23.21%

29.99%G-Secs

46.80%

AAA

49.78%

A1+ AA+

11.69% 8.16%

Sovereign

28.94%

AA

AA-1.39%

0.05%

35.37% 24.83%

39.80%


Date post:	27-Jun-2020
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