Birla Insurance Group 2015 · 2015. 8. 13. · Pg 11 Pg 12 Pg 13 Pg 14 as on 31st July 2015 Growth Advantage Fund Market Outlook. Market Update 1 ... There is growth in MHCV sales

July 2015

Index

Fund Managers Profile

Fund Performance

Secure Fund

Stable Fund

Growth 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 31st July 2015

Growth Advantage Fund

Market Outlook

Market Update

1

Economy Review

We saw a positive recovery in the Indian markets in the month of July 2015.

On the domestic front, the Indian government announced capital infusion in PSU banks in the next three years

which will be a great positive for banking. The first quarter results declared by Indian companies were mixed. On

the political front, due to certain controversies, the monsoon session of parliament seems to be unproductive.

Key bills like the GST bill and land acquisition bill are still pending to be passed. Globally, we saw completion of

Greece's deal with the European Union and Iran's nuclear deal with six major countries including India.

After a spell of heavy rainfall in June, monsoons moderated for the month of July-15. Cumulative rainfall for the

country as a whole for the month of July was 84 per cent of long term average. Despite the apprehension of

adverse monsoon, food inflation has not spiked.

Inflation moved up from 5.01 percent in May-15 to 5.4 percent June-2015. We can expect inflation to move up in

case of a deficient monsoon in short-term. However on a medium term basis, broad disinflationary trend is

expected to persist.

The government is front loading spending, with roads, railways, defense and power being the key focus areas.

There is growth in MHCV sales and uptick in cement production. However, exports continue to underperform

and remain a major drag, besides weakness in rural demand. Government's efforts to de-bottleneck

investments and kick-start industrial growth have started to show initial results and we are witnessing initial

positive signals in industrial growth, notably in capital goods. We remain positive on industrial sector and

believe that impact of lower interest rates and government's focus on industrial sector revival has gradually

started reviving activity.

Both services PMI and manufactring PMI for the month of July-15 improved from June-15.

A PMI reading above 50 indicates expansion while one below it implies contraction.

Market Update

2

Outlook for Equities

The Indian stock market gained 1.2 percent for the month. FIIs bought $875 in the July-2015.

Cumulatively, they are net buyers of $7.1 bn for the year 2015. Domestic institutions bought $113mn in

June taking their annual tally for 2015 to $4.3bn.

Equities do not look expensive with the Sensex currently at 14.5 multiple of FY17 earnings. We expect

significant gains for long-term investors.

Outlook for Debt

The 10 year bond yield moved from 7.86 percent to 7.81 percent in the month of July-2015.

Structural liquidity is however at comfortable levels. We expect 10 year G-sec yield to be in the range of

7.75 percent to 8 percent. The corporate bond yields are expected to trail the G-sec market with a

spread of 35-40 basis points.

We believe, the yield on the 10 year government bond will ease in FY-16. This will result in significant

gains for our investors in debt funds.

31-Jul-15 30-Jun-15 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

8532.85 8368.50 1.96%

28114.56 27780.83 1.20%

8653.31 8464.09 2.24%

17689.86 17619.51 0.40%

20585.24 20235.73 1.73%

24636.28 26250.03 -6.15%

5128.28 4986.87 2.84%

BSE NSE

3000

4000

5000

6000

7000

8000

9000

10000

11000

16000

18000

20000

22000

24000

26000

28000

30000

32000

Jan-1

5

Feb-1

5

Mar-

15

Ju

n-1

4

Jul-14

Au

g-1

4

Oct

-14

Sep-1

4

Nov-

14

De

c-14

Apr-

15

Ma

y-15

Ju

n-1

5

Jul-

15

5 year AAA Corporate Bond Spread10 Yr G-Sec Yield

bps

Key Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

MIBOR

Call Rates

31-Jul-15 30-Jun-15 % Change

7.81% 7.86% -0.64%

7.94% 8.06% -1.51%

7.43% 7.64% -2.83%

7.58% 7.71% -1.72%

7.66% 8.00% -4.44%

7.01% 7.04% -0.43%

Pe

rce

nta

ge

(%)

15

40

65

90

115

140

4.0

5.0

6.0

7.0

8.0

9.0

10.0

Jan-1

5

Feb-1

5

Mar-

15

Ju

n-1

4

Jul-14

Au

g-1

4

Oct

-14

Sep-1

4

Nov-

14

De

c-14

Apr-

15

Ma

y-15

Ju

n-1

5

Jul-

15

Fund Managers Profile

Mr. Sameer Mistry

Mr. Parin Vora

Mr. Sameer Mistry joined BSLI in January 2009. He has over 15 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 Joint Vice President Investments– -

Mr. Parin S Vora has been with BSLI since October 2007 and is primarily responsible for Fixed Income trading and Fund Management. He has 15 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 Vora – Assistant Vice President - Investments

3

Fund Performance as on 31st July 2015

Group Funds Figures in percentage (%)

Fund Name Benchmark CompositionSecureStableGrowthGrowth AdvantageMoney MarketShort Term Debt FundIncome AdvantageGilt FundBond Fund

Fixed Interest

BSE 100BSE 100BSE 100BSE 100

-----

-

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

-Crisil Short Term Bond IndexCrisil Composite Bond Index

-Crisil AAA long term index & Crisil AA short term index Crisil Composite Bond Index

Crisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund IndexCrisil Liquid Fund 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 Insurance is the subject matter of solicitation.BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS: IRDA clarifies to public that IRDA or its officials do not involve inactivities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

ULGF00212/06/01BSLGSECURE109ULGF00312/06/01BSLGSTABLE109ULGF00112/06/01BSLGGROWTH109ULGF01026/11/07BSLIGGRADV109ULGF00824/08/04BSLIGRMMKT109ULGF01322/09/08BSLGSHTDBT109ULGF01425/02/10BSLGINCADV109ULGF00630/05/03BSLIGRGILT109ULGF00530/05/03BSLIGRBOND109

ULGF00416/07/02BSLGFIXINT109

SFIN

4

Absolute Return

CAGR

ReturnsPeriod

Absolute Return

CAGR

Returns Money Market Fund

Short Term Debt Fund

BM BM BMPeriod

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

1.42%

0.59%

0.39%

12.36%

9.88%

8.52%

8.23%

7.43%

6.93%

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 BM Stable Fund BM Growth Advantage

BM BMGrowth Fund

Income Advantage Fund

1.44% 1.25%

1.79% 1.88%

1.88% 1.64%

12.17% 9.97%

13.29% 11.62%

10.91% 9.75%

9.69% 8.80%

8.58% 7.87%

10.88% 7.41%

1.68% 1.41%

2.30% 2.21%

1.80% 0.85%

13.22% 10.02%

16.12% 13.35%

12.67% 11.01%

10.46% 9.21%

9.03% 8.03%

13.62% 8.82%

1.86% 1.56%

3.05% 2.52%

1.86% 0.04%

14.76% 10.04%

19.12% 15.05%

14.52% 12.24%

11.20% 9.58%

9.45% 8.14%

15.21% 10.36%

2.02% 1.65%

3.35% 2.72%

1.80% -0.50%

15.82% 10.03%

21.33% 16.18%

16.09% 13.05%

12.08% 9.79%

10.42% 8.19%

13.63% 7.89%

0.70% 0.58%

2.01% 1.79%

4.04% 3.63%

8.43% 7.51%

8.74% 8.23%

8.94% 7.82%

9.06% 7.94%

8.96% 7.74%

9.42% 7.05%

0.89% 0.77%

1.93% 1.78%

3.59% 3.52%

8.78% 8.48%

9.16% 8.96%

8.99% 8.19%

9.23% 8.25%

9.02% 7.78%

8.90% 7.11%

1.26% 1.04%

1.20% 1.43%

2.01% 2.67%

11.06% 9.84%

10.34% 9.30%

9.20% 8.03%

9.46% 8.18%

9.91% 7.58%

9.56% 7.44%

1.25% 1.07%

1.69% 1.48%

3.15% 2.78%

10.19% 9.57%

10.22% 9.75%

9.61% 8.52%

9.97% 8.59%

9.37% 7.82%

10.86% 8.26%

1.23% 1.04%

0.97% 1.43%

1.58% 2.67%

11.35% 9.84%

10.56% 9.30%

9.94% 8.03%

10.47% 8.18%

9.74% 7.58%

8.86% 5.33%

Asset held as on 3 ` 1025.84cr1st July 2015:

GOVERNMENT SECURITIES: 46.84%

8.6% Government Of India 2028 9.16%










Other Government Securities 10.08%

8.9% Steel Authority Of India Ltd. 2019 1.94%

8.57% REC. Ltd. 2024 1.52%

9.25% PGC. Of India Ltd. 2019 1.11%

9.15% ICICI Bank Ltd. 2022 1.01%

9% Tata Capital Financial Services

Limited 2017 0.98%

9.95% Tata Motors Ltd. 2020 0.90%

8.58% HDFC. Ltd. 2018 0.84%

9.95% Family Credit Limited 2016 0.69%

8% MVM Limited 2017 0.65%

9.6% L&T Finance Ltd. 2016 0.64%

Other Corporate Debt 12.92%

HDFC Bank Ltd. 1.60%

ICICI Bank Ltd. 1.49%

Infosys Ltd. 1.28%

L&T Ltd. 1.08%

Reliance Industries Ltd. 1.00%

State Bank Of India 0.84%

HDFC. Ltd. 0.81%

Axis Bank Ltd. 0.72%

Maruti Suzuki India Ltd. 0.65%

Tata Consultancy Services Ltd. 0.58%

Other Equity 10.03%

RATING PROFILE

Exposure to Equities has increased to 20.07 from 19.84%, exposure to G-Secs has increased to 46.84% from 45.90% while that to MMI has decreased to 9.90 from 10.92% on a MOM basis. Over 92% 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: 5.65 years

EQUITY: 20.07%

NAV as on 31st July 2015: 43.00`

CORPORATE DEBT: 23.19%

Maturity Profile

ASSET ALLOCATION

MMI, : 9.90%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 FundFund Manager: Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 15 years &15 years

ULGF00212/06/01BSLGSECURE109

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

SECTORAL ALLOCATION

Portfolio as on Friday, July 31, 2015

Maturity Profile

Date of Inception: 19-Jun-01

0.89%AA-AAA

24.68%

66.76%

Sovereign

A1+0.19%

1.42%AA

AA+6.06%

46.84%G-Secs

MMI, Deposits, CBLO & Others

9.90%

NCD23.19%

Equities20.07%

Secure BM

5

0.96%

1.09%

1.42%

1.59%

1.60%

1.79%

2.53%

2.76%

6.33%

7.18%

7.22%

9.21%

9.76%

10.57%

10.70%

25.29%

OTHERS

MANUFACTURING

POWER

RETAILING

AGRI RELATED

TELECOMMUNICATION

METAL

CEMENT

FMCG

PHARMACEUTICALS

FINANCIAL SERVICES

AUTOMOBILE

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING

7 years & above2 to 7 years

Less than 2years

62.98%

18.35% 18.67%

Au

g-0

7

Jan

-08

Jun

-08

No

v-0

8

Ap

r-0

9

Se

p-0

9

Fe

b-1

0

Jul-1

0

De

c-1

0

Ma

y-11

Oct

-11

Ma

r-1

2

Au

g-1

2

Jan

-13

Jun

-13

No

v-1

3

Ap

r-1

4

Se

p-1

4

Fe

b-1

5

Jul-1

5

Asset held as on 3 322.08cr1st July 2015: `

RATING PROFILE

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.

Modified Duration: 6.39 yearsNAV as on 31st July 2015: ` 59.17

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 FundFund Manager: 15 years

Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 15 years &

ULGF00312/06/01BSLGSTABLE109



6

Date of Inception: 31-Aug-01

MMI, Deposits, CBLO & Others: 4.17%

NCD16.19%

AA1.12%

AAA23.74%

Sovereign

73.49%

AA+1.65%

34.76%

Equities

ASSET ALLOCATION

Maturity Profile

Stable BM

44.88%G-Secs


4.17%













8.65% REC. Ltd. 2019 3.07%

10.1% PGC. Of India Ltd. 2017 1.60%

9.25% LIC Housing Finance Ltd. 2023 1.47%

9.4% NABARD 2016 0.94%

9.6% HDFC. Ltd. 2016 0.94%

10.85% REC. Ltd. 2018 0.83%

9.61% Power Finance Corpn. Ltd. 2021 0.82%

9.33% NABARD 2017 0.79%


10.15% Kotak Mahindra Prime Ltd. 2017 0.63%




Infosys Ltd. 2.20%


L&T Ltd. 1.86%


. Ltd. 1.38%




Other Equity 17.28%

HDFC

EQUITY: 34.76%CORPORATE DEBT: 16.19%

1.01%

1.09%

1.42%

1.59%

1.59%

1.79%

2.51%

2.73%

6.32%

7.08%

7.24%

9.13%

10.22%

10.46%

10.64%

25.20%

OTHERS

MANUFACTURING

POWER

RETAILING

AGRI RELATED

TELECOMMUNICATION

METAL

CEMENT

FMCG

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING


Less than 2years

67.18%

19.06%

13.76%

May-1

1

Mar-

07

Aug-0

7

Jan-0

8

Jun-0

8

Nov-

08

Apr-

09

Sep-0

9

Feb-1

0

Jul-10

Dec-

10

Oct

-11

Mar-

12

Aug-1

2

Jan-1

3

Jun-1

3

Nov-

13

Apr-

14

Sep-1

4

Feb-1

5

Jul-15






9.53% State Government Of Gujrat 2024 2.37%








9.34% REC. Ltd. 2024 2.16%



9.02% REC. Ltd. 2022 0.81%

NABARD 2017 0.79%

10.15% Kotak Mahindra Prime Ltd. 2017 0.78%


7.6% HDFC. Ltd. 2017 0.63%


10.3% Tata Motors Ltd. 2018 0.46%




Infosys Ltd. 3.15%


L&T Ltd. 2.66%


HDFC. Ltd. 1.98%




Other Equity 24.85%

RATING PROFILE

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.


EQUITY: 49.87%

NAV as on 31st July 2015: ` 71.84


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 Fund

ULGF00112/06/01BSLGGROWTH109



7

Date of Inception: 31-Aug-01

Fund Manager: 15 years


G-Secs

31.26%

49.87%

Equities

NCD

5.35%

MMI, Deposits, CBLO & Others13.52%

AAA

27.43%

69.81%

Sovereign

AA+

1.03%AA

1.73%

Gr. Growth BM

0.99%

1.10%

1.41%

1.58%

1.58%

1.78%

2.53%

2.71%

6.30%

7.15%

7.24%

9.11%

10.18%

10.52%

10.64%

25.17%

OTHERS

MANUFACTURING

POWER

AGRI RELATED

RETAILING

TELECOMMUNICATION

METAL

CEMENT

FMCG

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING


Less than 2years

61.26%

27.26%

11.49%

Ma

r-0

7

Au

g-0

7

Ja

n-0

8

Ju

n-0

8

No

v-0

8

Ap

r-0

9

Se

p-0

9

Fe

b-1

0

Ju

l-1

0

De

c-1

0

Ma

y-1

1

Oct-

11

Ma

r-1

2

Au

g-1

2

Ja

n-1

3

Ju

n-1

3

No

v-1

3

Ap

r-1

4

Se

p-1

4

Fe

b-1

5

Ju

l-1

5














9.05% Petronet LNG Ltd. 2019 2.51%

8.57% REC. Ltd. 2024 2.48%


8.95% HDFC Bank Ltd. 2022 0.75%


11.95% HDFC. Ltd. 2018 0.27%



Infosys Ltd. 3.77%


L&T Ltd. 3.19%


HDFC. Ltd. 2.42%




Other Equity 29.92%

RATING PROFILE

93% 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: 59.94%

NAV as on 31st July 2015: ` 25.92


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 Fund

ULGF01026/11/07BSLIGGRADV109



8

Date of Inception: 18-Feb-08

Fund Manager: 15 years


59.94%

Equities

G-Secs

27.32%

NCD

5.00%

MMI, Deposits, CBLO & Others7.74%

Sovereign

75.85%

AAA

14.52%AA+

6.98% A1+2.66%

0.99%

1.11%

1.41%

1.58%

1.59%

1.77%

2.53%

2.73%

6.31%

7.24%

7.27%

9.12%

10.19%

10.47%

10.63%

25.06%

OTHERS

MANUFACTURING

POWER

AGRI RELATED

RETAILING

TELECOMMUNICATION

METAL

CEMENT

FMCG

PHARMACEUTICALS

FINANCIAL SERVICES

AUTOMOBILE

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

BANKING


Less than 2years

68.53%

16.38%

15.10%

Ap

r-11

Ju

l-11

Oct-

11

Ja

n-1

2

Ap

r-1

2

Ju

l-1

2

Oct-

12

Ja

n-1

3

Ap

r-1

3

Ju

l-1

3

Oct-

13

Ja

n-1

4

Ap

r-1

4

Ju

l-1

4

Oct-

14

Ja

n-1

5

Ap

r-1

5

Ju

l-1

5


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


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 FundFund Manager: Parin Vora | Total Experience: 15 years

ULGF00824/08/04BSLIGRMMKT109

Benchmark: CRISIL Liquid Fund Index


9

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATIONRATING PROFILE


Date of Inception: 30-Mar-05

MMI

MM BM

100.00%

A1+

96.18%

AAA

3.82%

Apr-

11

Jul-11

Oct

-11

Jan-1

2

Apr-

12

Jul-12

Oct

-12

Jan-1

3

Apr-

13

Jul-13

Oct

-13

Jan-1

4

Apr-

14

Jul-14

Oct

-14

Jan-1

5

Apr-

15

Jul-15

Exposure to Corporate Debt has decreased to 55.01% from 59.12% while that to MMI has increased to 44.99% from 40.88% on a MOM basis. Over 83% of the fund is invested in highest rated instruments.


9.15% L&T Ltd. 2019 7.89%

9.9% Cholamandalam Investment &

Finance Co. Ltd. 2016 7.77%

9.1% HDFC Bank Ltd. 2022 6.65%

9.7% NABARD 2016 6.24%


10.05% Can Fin Homes Ltd. 2017 5.09%

9.04% REC. Ltd. 2019 3.94%

8.99% Tata Capital Financial Services

Limited 2017 3.86%


8.64% PGC. Of India Ltd. 2025 1.96%


NAV as on 31st July 2015: ` 17.61


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 Fund

ULGF01322/09/08BSLGSHTDBT109

Asset held as on 3 25.96cr1st July 2015: ` Modified Duration: 1.82 years


10

Maturity Profile

ASSET ALLOCATION

Date of Inception: 10-Dec-08

Fund Manager: Parin Vora | Total Experience: 15 years


44.99%

NCD

55.01%

RATING PROFILE

AAA

63.10%

BMShort Term Debt

AA+

5.62%A1+

19.98%


Less than 2years

9.23% 29.25%

61.51%

AA

11.31%

Ap

r-1

2

Ju

l-1

2

Oct-

12

Ja

n-1

3

Ap

r-1

3

Ju

l-1

3

Oct-

13

Ja

n-1

4

Ap

r-1

4

Ju

l-1

4

Oct-

14

Ja

n-1

5

Ap

r-1

5

Ju

l-1

5


97% of the fund remains invested in highest rated instruments.


9.34% REC. Ltd. 2024 5.56%


9.7% NABARD 2016 3.97%


9.15% Export Import Bank Of India 2022 3.15%

9.25% PGC. Of India Ltd. 2019 3.12%

9.02% REC. Ltd. 2022 2.17%

9.25% PGC. Of India Ltd. 2020 1.95%

9.25% Of India Ltd. 2019 1.94%



PGC.


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 Fund

ULGF01425/02/10BSLGINCADV109


Maturity Profile















11

Date of Inception: 23-Mar-10


NCD

37.38% 9.20%


53.42%G-Secs

56.17%

Sovereign

AAA

36.12%

Gr. Inc Adv BM

AA+

3.18%

A1+

4.54%


Less than 2years

66.79%

22.55%

10.66%

Ma

r-1

2

Ju

l-1

2

No

v-1

2

Ma

r-1

3

Ju

l-1

3

No

v-1

3

Ma

r-1

4

Ju

l-1

4

No

v-1

4

Ma

r-1

5

Ju

l-1

5


Exposure to G-Secs has increased to 98.06% from 92.98% while that to MMI has decreased to 1.94% from 7.02% 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 Fund

ULGF00630/05/03BSLIGRGILT109














Maturity Profile

ASSET ALLOCATION


RATING PROFILE

12

Sovereign100.00%

Date of Inception: 28-Apr-04



1.94%

98.06%G-Secs


Less than 2years

94.91%

4.47%

0.63%


Exposure to Corporate Debt has increased to 83.23% from 82.33% while that to MMI has decreased to 16.77% from 17.67% on a MOM basis. Over 84% of the fund remains invested in highest rated instruments.

Modified Duration: 3.97 yearsNAV as on ` 25.2131st July 2015:

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 Fund

ULGF00530/05/03BSLIGRBOND109


9.74% Tata Sons Ltd. 2024 5.04%

9.5% HDFC. Ltd. 2024 4.40%

8.54% NPC. Of India Ltd. 2023 4.23%

8.57% REC. Ltd. 2024 3.14%

9.15% ICICI Bank Ltd. 2022 3.01%

9.04% REC. Ltd. 2019 2.77%

9.55% Hindalco Industries Ltd. 2022 2.51%



9.35% PGC. Of India Ltd. 2020 2.16%



Benchmark: Crisil AAA long term index & Crisil AA short term index & CRISIL Liquid Fund Index

Maturity Profile


13


Date of Inception: 28-Jan-07


NCD83.23%


16.77%6.47%AA

9.52%

AA+

0.48%A1+

AAA

83.53%


Less than 2years

41.93%

36.62%

21.45%

Asset held as on 3 671.99cr1st July 2015: ` Modified Duration: 6.09 yearsNAV as on ` 29.4231st July 2015:

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 Fund

ULGF00416/07/02BSLGFIXINT109











8.8% State Government Of AP 2022 0.76%





9.64% PGC. Of India Ltd. 2021 1.57%

9.95% State Bank Of India 2026 1.53%


8.4% PGC. Of India Ltd. 2024 1.49%

9.55% Hindalco Industries Ltd. 2022 1.35%


8.99% Tata Capital Financial Services

Limited 2017 0.97%



Maturity Profile

ASSET ALLOCATION

Benchmark: Crisil Composite Bond index & Crisil Liquid Fund Index



14

RATING PROFILE

Date of Inception: 18-Nov-02


FIF BM

55.57%G-Secs


9.14%NCD

35.29%AA+

4.30% 3.20%

2.07%

AA

A1+

AAA

30.53%

59.89%

Sovereign


Less than 2years

71.76%

20.38%

7.86%

Exposure to Corporate Debt has increased to 35.29% from 31.89%, to G-Secs it has decreased to 55.57% from 62.68% and to MMI, it has increased to 9.14% from 5.31% on a MOM basis. Over 92% of the fund remains invested in highest rated instruments.

Mar-

07

Aug-0

7

Jan-0

8

Jun-0

8

Nov-

08

Apr-

09

Sep-0

9

Feb-1

0

Jul-10

Dec-

10

May-

11

Oct

-11

Mar-

12

Aug-1

2

Jan-1

3

Jun-1

3

Nov-

13

Apr-

14

Sep-1

4

Feb-1

5

Jul-15

Documents

Birla Insurance Group 2015 · 2015. 8. 13. · Pg 11 Pg 12 Pg 13 Pg 14 as on 31st July 2015 Growth Advantage Fund Market Outlook. Market Update 1 ... There is growth in MHCV sales