Invest Update Group New Layout Final - Sun€¦ · Pg 8 Pg 9 Pg 10 Pg 11 Pg 12 Pg 13 Pg 14 as on 29th November 2013. Market Update Slowing growth, high inflation and rising interest

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 29th November 2013

Market Update

Slowing growth, high inflation and rising interest rates have been serious concerns for some time now. There is

reason to cheer on the growth front as the 2QFY14 gross domestic product (GDP) growth came in at 4.8%, largely in

line with expectations. This was led by agriculture growing by 4.6%, industry growing by 2.3%, and services growing

by 5.9%. However, on the inflation front the news was less positive with the October wholesale price index (WPI) and

core inflation accelerating to 7% and 2.6% YoY, respectively.

The government took several steps on the non-tax revenue front to meet its fiscal deficit target of 4.8%. On the

divestment front, the government raised Rs.1600 from the Power Grid FPO. Stake sales in Indian Oil and Coal India

are on the cards. The government is likely to take a call on the Balco and Hindustan Zinc stake sales soon. The

empowered group of ministries (EGoM) accepted the telecom commission's recommendations on the spectrum

reserve price and the expected spectrum sale will also bring in some revenue to the government. Gradual diesel price

deregulation will also help ease the fiscal pressures on the government.

There has been steady progress on the reform front. The government has set up a “Project Monitoring Group” (PMG)

working with both private entrepreneurs and ministries to facilitate the approval of projects and to speed up stalled

infrastructure projects. It has resolved issues in 117 projects worth US$63bn (3.4% of GDP) since July 2013.

The current account deficit (CAD) situation is improving and the full year CAD estimate are now around US$45bn

(2.5% of GDP). Oil prices are expected to cool off because of positive news on the Iran nuclear deal front. Reserve

Bank of India (RBI) received around $34bn from non-resident Indians under the special scheme floated by it. Both

these will go a long way in easing the CAD problem and funding the deficit.

29-Nov-13 29-Oct-13 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

6176.10 6220.90 -0.72%

20791.93 20929.01 -0.65%

6177.75 6196.89 -0.31%

16086.41 15680.35 2.59%

15661.87 14325.98 9.32%

23881.29 22846.54 4.53%

4059.89 3952.34 2.72%

1

3000

3500

4000

4500

5000

5500

6000

6500

14000

15000

16000

17000

18000

19000

20000

21000

22000BSE NSE

Oct

-12

No

v-1

2

No

v-1

3

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

Sep

-13

Oct

-13

In U

S $

MN

No

v-1

2

No

v-1

3

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

Sep

-13

Oct

-13

(2500)

(1500)

(500)

500

1500

2500

3500

4500

5500 FII MF

Oct

-12

No

v-1

2

No

v-1

3

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

Sep

-13

Oct

-13

45.00

50.00

55.00

60.00

65.00

70.00Rs v/s USD

Market Update

29-Nov-13 29-Oct-13 % ChangeKey Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

MIBOR

Call Rates

8.70% 8.60% 1.15%

8.85% 8.70% 1.69%

8.86% 8.74% 1.35%

8.81% 8.52% 3.29%

9.03% 9.06% -0.33%

8.04% 7.81% 2.86%

2

Outlook for equities

Indian equities consolidated in November, post a multiyear high closing in previous month. The BSE Sensex

declined by 1.8% in November 2013. Foreign Institutional Investors (FIIs) continued to be net buyers for the third

consecutive month, with net inflows of $1.1bn, taking their YTD net inflows to $17.5bn. Domestic Institutional

Investors (DIIs) were net sellers to the tune of $1.5bn, taking their YTD net selling to $11.7bn. Market trends in

December will be mainly determined by the stand taken by US Federal Reserve on quantitative tapering . The

“Quantitative tapering “is referred to the anticipated reduction of the Federal Reserve's (FED) quantitative easing,

or bond buying programme. Currently, US Federal Reserve buys around $85bn bonds/month. If tapering happens,

the bond buying will be reduced to $75-80bn and result in lower liquidity which will lead to fund outflow from

emerging markets.

The BSE Sensex, currently trading at 14xFY15e (which means trading at 14 times of the earnings of sensex

companies for the financial year 2015), can be expected to consolidate at current levels. Going forward, global

cues on US tapering, FII flows and domestic policy measures would drive equity markets.

Outlook for debt

Even if the economic growth continues to slow down, we expect RBI’S policy rates to remain elevated to support

positive real interest rates i.e;(interest rate – inflation rate )

A new 10 year security issuance bought some movement in the 10 year GSec benchmark yields. We expect the 10

year government bond to trade in the range of 8.75% to 8.90% in the near term. Corporate bond spreads are

expected to remain tight at 75 basis points as fresh issuances are not expected.

perc

en

tag

e (%

)

bp

s

Oct

-12

No

v-1

2

No

v- 1

3

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

Sep

- 13

Oct

- 13

25

50

75

100

125

150

5.0

6.0

7.0

8.0

9.0

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

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 29 November 2013

Life Funds Figures in percentage (%)

Absolute Return

CAGR

Returns Period

Absolute Return

CAGR

Returns Money Market Fund


BM BM BMPeriod

0.63%

2.64%

4.10%

7.99%

8.07%

7.93%

7.01%

6.64%

6.83%

0.45%

3.45%

2.63%

7.26%

8.02%

7.67%

6.76%

-

6.53%

0.04%

3.30%

-2.45%

4.58%

6.95%

6.61%

-

-

6.32%

0.74%

2.28%

4.43%

9.09%

9.41%

9.32%

8.63%

9.87%

9.57%

0.61%

3.26%

3.13%

8.54%

9.61%

9.40%

8.49%

-

8.89%

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

0.45%

3.45%

2.77%

7.80%

8.59%

7.69%

6.83%

7.42%

6.79%

0.04%

3.30%

-2.45%

4.57%

6.95%

6.61%

6.03%

6.77%

4.56%

-0.34%

2.17%

-7.66%

2.25%

5.89%

5.43%

4.87%

6.48%

6.09%

0.49%

3.66%

0.10%

7.39%

9.88%

8.90%

8.66%

11.56%

10.97%

0.23%

3.02%

-1.13%

7.36%

10.17%

9.13%

8.81%

12.54%

8.53%

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

-0.02%

5.39%

-1.63%

4.32%

8.74%

5.65%

6.13%

10.86%

10.46%

BM

-0.03%

5.27%

-1.77%

4.74%

8.06%

5.68%

5.85%

8.91%

6.63%

Stable Fund

-0.04%

7.26%

-1.28%

3.84%

9.44%

4.73%

5.94%

12.20%

13.20%

BM

-0.08%

6.75%

-1.29%

4.81%

8.83%

4.93%

5.66%

10.43%

8.03%

Growth Advantage

-0.12%

10.43%

-0.48%

3.59%

10.74%

3.83%

6.49%

16.59%

11.36%

BM BM

-0.13%

8.24%

-0.85%

4.82%

9.55%

4.13%

5.40%

11.88%

9.57%

-0.17%

9.23%

-0.57%

4.81%

10.01%

3.56%

5.21%

12.80%

5.60%

Growth Fund

-0.12%

9.16%

-0.74%

3.32%

10.08%

3.60%

5.96%

14.51%

14.62%

Income Advantage Fund

0.37%

3.26%

-3.26%

5.18%

8.70%

9.67%

-

-

8.79%

Fund Name Benchmark Composition

Secure

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.

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

Assets held as on 3: ` 667.20 cr29th November 201

GOVERNMENT SECURITIES: 30.50%

7.16% Government Of India 2023 4.53%










Other Government Securities 6.04%

8.9% Steel Authority Of India Ltd. 2019 2.82%

9.25% PGC. Of India Ltd. 2019 1.62%

9.15% ICICI Bank Ltd. 2022 1.46%

9.95% Tata Motors Ltd. 2020 1.29%

8.58% HDFC. Ltd. 2018 1.24%

9.15% L&T Ltd. 2019 1.06%

10.25% Tech Mahindra Ltd. 2014 1.05%

8% MVM Limited 2017 0.93%

9.7% Power Finance Corpn. Ltd. 2018 0.90%

5.9% HDFC Bank Ltd. 2014 0.89%

Other Corporate Debt 21.24%

ITC Ltd. 1.66%

Infosys Ltd. 1.52%

Reliance Industries Ltd. 1.23%

HDFC Bank Ltd. 1.06%

Tata Consultancy Services Ltd. 1.02%

HDFC. Ltd. 0.94%

ICICI Bank Ltd. 0.80%

Sun Pharmaceutical Inds. Ltd. 0.56%

Dr. Reddys Laboratories Ltd. 0.52%

Larsen And Toubro Ltd. 0.52%

Other Equity 7.30%

RATING PROFILE

Exposure to Equities has slightly decreased to 17.12 from 17.74%, exposure to G-Secs has increased to 30.50% from 27.54% while that to MMI has decreased to 17.87 from 24.24% on a MOM basis. Over 65% 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: 4.23 years

EQUITY: 17.12%

NAV as on 29th November 2013: ` 34.54

CORPORATE DEBT: 34.50%

Maturity Profile

ASSET ALLOCATION

MMI, : 17.87%Deposits, CBLO & Others

Objective:

Strategy:

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

Generate better return with moderate level of risk throughactive management of fixed income portfolio and focus on creating longterm equity portfolio which will enhance yield of composite portfolio withlow 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, Novemberer 29, 2013

0.68%

1.17%

1.18%

1.38%

1.62%

2.36%

3.04%

3.97%

5.92%

7.09%

10.44%

12.91%

13.75%

15.53%

18.94%

OTHERS

ALCOHOL BEVERAGES

MEDIA

POWER

DIVERSIFIED

METAL

CAPITAL GOODS

TELECOMMUNICATION

FINANCIAL SERVICES

AUTOMOBILE

OIL AND GAS

PHARMACEUTICALS

FMCG

BANKING

SOFTWARE / IT

7 years & above2 to 7 years

Less than 2years

44.41%

25.32% 30.27%

17.87%

MMI, Deposits,

CBLO & Others17.12%

Equities

NCD34.50%

G-Secs

30.50%

AA5.07%AAA

37.75%3.10%

AA+

3.76%AA-3.85%

45.15%Sovereign

A1+

1.31%A+

Secure BM

Jul-05

Dec-

05

May-

06

Oct

-06

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














8.65% REC. Ltd. 2019 4.07%

10.1% PGC. Of India Ltd. 2017 2.19%

9.4% National Housing Bank 2013 2.16%


9.25% LIC Housing Finance Ltd. 2023 1.95%


9.6% HDFC. Ltd. 2016 1.30%

9.4% NABARD 2016 1.29%

10.48% Ultratech Cement Ltd. 2013 1.25%

10.85% REC. Ltd. 2018 1.13%


ITC Ltd. 2.87%

Infosys Ltd. 2.60%




HDFC. Ltd. 1.69%





Other Equity 12.75%

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: 29.83%



Maturity Profile

ASSET ALLOCATION

MMI, Deposits, CBLO & Others: 17.55%

Stable BM

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

MMI, Deposits,

CBLO & Others

0.61%

1.10%

1.21%

1.47%

1.64%

2.35%

3.13%

3.84%

6.13%

7.32%

10.52%

12.67%

13.57%

15.68%

18.75%

OTHERS

MEDIA

ALCOHOL BEVERAGES

POWER

DIVERSIFIED

METAL

CAPITAL GOODS

TELECOMMUNICATION

FINANCIAL SERVICES

AUTOMOBILE

OIL AND GAS

PHARMACEUTICALS

FMCG

BANKING

SOFTWARE / IT


Less than 2years

41.36%

21.15%

37.48%

25.18%17.55%

G-Secs

NCD29.83%27.44%

Equities

AA+

1.76%AA-

0.16%

AA1.64%

AAA48.58%

Sovereign47.86%

Jul-0

5

Dec

-05

May

-06

Oct

-06

Mar

-07

Aug

-07

Jan-

08

Jun-

08

Nov

-08

Apr

-09

Sep

-09

Feb

-10

Jul-1

0

Dec

-10

May

-11

Oct

-11

Mar

-12

Aug

-12

Jan-

13

Jun-

13

Nov

-13















5.9% HDFC Bank Ltd. 2014 1.52%

NABARD 2017 1.32%


7.6% HDFC. Ltd. 2017 1.20%

9.655% 2014 1.19%


9.05% State Bank Of India 2020 1.11%

8.2% Ashok Leyland Ltd. 2015 0.85%



NABARD

ITCLtd. 4.09%

Infosys Ltd. 3.72%




HDFC. Ltd. 2.40%





Other Equity 18.46%

RATING PROFILE



EQUITY: 42.73%



Maturity Profile

ASSET ALLOCATION


Gr. Growth BM

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



0.59%

1.08%

1.33%

1.47%

1.61%

2.29%

2.91%

3.78%

6.25%

7.73%

10.47%

12.86%

13.41%

15.62%

18.60%

OTHERS

MEDIA

ALCOHOL BEVERAGES

POWER

DIVERSIFIED

METAL

CAPITAL GOODS

TELECOMMUNICATION

FINANCIAL SERVICES

AUTOMOBILE

OIL AND GAS

PHARMACEUTICALS

FMCG

BANKING

SOFTWARE / IT


Less than 2years

41.57%

18.05%

40.38%

NCD18.38%

MMI, Deposits,

CBLO & Others17.77%

42.73%

G-Secs

21.12% Equities

AAA39.41% AA

2.67%A1+

1.13%

A+

3.17% AA+1.59%

Sovereign52.03%

Jul-05

Dec-

05

May-

06

Oct

-06

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

7













8.83% Export Import Bank Of India 2023 4.90%


6.1% NPC. Of India Ltd. 2014 2.54%

8.95% HDFC Bank Ltd. 2022 1.48%

2% Indian Hotels Co. Ltd. 2014 1.35%


11.95% HDFC. Ltd. 2018 0.56%

ITC Ltd . 4.90%

Infosys Ltd. 4.45%




HDFC. Ltd. 2.88%


L&T Ltd. 1.60%


Lupin Ltd. 1.50%

Other Equity 22.00%

RATING PROFILE



EQUITY: 51.15%



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

0.64%

1.08%

1.33%

1.47%

1.77%

2.36%

3.13%

4.02%

6.19%

7.32%

10.44%

12.68%

13.54%

15.50%

18.54%

OTHERS

MEDIA

ALCOHOL BEVERAGES

POWER

DIVERSIFIED

METAL

CAPITAL GOODS

TELECOMMUNICATION

FINANCIAL SERVICES

AUTOMOBILE

OIL AND GAS

PHARMACEUTICALS

FMCG

BANKING

SOFTWARE / IT


Less than 2years

57.62%

13.83%

28.55%

NCD14.78%

MMI, Deposits,

CBLO & Others11.37%

G-Secs22.71%

51.15%Equities

AA3.46%

AAA34.27%

Sovereign62.28%

Au

g-0

9

No

v-0

9

Fe

b-1

0

Ma

y-1

0

Au

g-1

0

No

v-1

0

Fe

b-1

1

Ma

y-1

1

Au

g-1

1

No

v-1

1

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


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

Modified Duration: 0.33 yearsNAV as on 29th November 2013: ` 22.10

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

May

-10

May

-11

May

-12

May

-13

Aug

-09

Nov

-09

Feb

-10

Aug

-10

Nov

-10

Feb

-11

Aug

-11

Nov

-11

Feb

-12

Aug

-12

Nov

-12

Feb

-13

Aug

-13

Nov

-13

Exposure to Corporate Debt has decreased to 16.63% from 20.24% while that to MMI has increased to 83.37% from 79.76% on a MOM basis. Over 100% of the fund is invested in highest rated instruments.


9.75% HDFC. Ltd. 2016 3.97%

8.97% EID-Parry (India) Ltd. 2016 3.07%

8.95% L&T Shipbuilding Ltd 2017 2.63%

8.8% HBD Financial Services Ltd 2016 2.18%




9.7% Sundaram Finance Ltd. 2014 0.79%



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 3: ` 63.15 cr29th November 201 Modified Duration: 0.77 years


10

Maturity Profile

2 to 7 years

Less than 2 years

18.03%

81.97%

ASSET ALLOCATION

NCD16.63%

MMI, Deposits,

CBLO & Others

83.37%

RATING PROFILE

A1+49.71%

20.52%AA-

5.50%AA+

1.42%

Sovereign

AAA22.86%

BMShort Term Debt

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


90% of the fund remains invested in highest rated instruments.


9.67% Tata Sons Ltd. 2022 8.85%


9.3% PGC. Of India Ltd. 2020 4.34%

9.02% REC. Ltd. 2022 3.98%

9.25% . Of India Ltd. 2020 3.61%



9.65% Chola Invt & Fin Co. Ltd. 2018 2.87%

10.6% IRFC. Ltd. 2018 0.31%

9.9% HDFC Ltd. 2018 0.30%


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 FundManager: Devendra Singhvi | Total Experience: 12 years

ULGF01425/02/10BSLGINCADV109


Maturity Profile


Less than 2years

71.25%

17.30%

11.45%

ASSET ALLOCATION

17.53%

MMI, Deposits,

CBLO & Others

NCD

46.25%G-Secs36.21%

RATING PROFILE

AA3.37%AAA

35.65%

A1+3.20%

54.29%Sovereign

AA+

3.49%














Gr. Inc Adv BM

Ma

y-1

1

Au

g-1

1

No

v-1

1

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

11


Exposure to G-Secs has decreased to % from 94.47% while that to MMI has increased to 6.17% from 5.53% on a MOM basis.

93.83


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

Sovereign100.00%

12

7 years & above

Less than 2 years

95.52%

4.48%

MMI, Deposits,

CBLO & Others

6.17%

93.83%G-Secs


Exposure to Corporate Debt has increased to 67.88% from 66.57% while that to MMI has decreased to 32.12% from 33.43% on a MOM basis. Over 100% 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


10.6% IRFC. Ltd. 2018 4.42%

8.54% NPCorpn. Of India Ltd. 2023 4.03%

9.18% HDFC Ltd. 2018 3.33%

9.15% ICICI Bank Ltd. 2022 2.88%


9.55% Hindalco Industries Ltd. 2022 2.49%

9.95% L&T Finance Ltd. 2016 2.12%



8.73% PGC Of India Ltd. 2015 2.09%



Benchmark: CRISIL Short Term Bond Index

Maturity Profile


13


Less than 2years

22.68%

46.16%

31.16%

ASSET ALLOCATION

MMI, Deposits,

CBLO & Others32.12%

NCD67.88%

RATING PROFILE

AAA75.16%

11.02%AA+ AA-

8.55%A1+

4.18% AA1.08%


Exposure to Corporate Debt has slightly decreased to 28.65% from 28.65%, to G-Secs it has increased to 41.64% from 40.63% and to MMI, it has decreased to 29.71% from 30.72% on a MOM basis. Over 100% 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 2.59%

9.64% PGC. Of India Ltd. 2021 2.16%


9.55% Hindalco Industries Ltd. 2022 1.91%



10.6% IRFC. Ltd. 2018 1.13%



9.27% IRFC. Ltd. 2021 1.08%



Maturity Profile

ASSET ALLOCATION

Benchmark: Crisil Composite Bond index & Crisil Liquid Fund Index



14

MMI, Deposits,

CBLO & Others


Less than 2years

61.69%

11.68% 26.63%

NCD28.65%

41.64%G-Secs

29.71%

RATING PROFILE

AAA31.83%

55.24%Sovereign

5.25%AA+

6.76%A1+

AA0.90%

0.03%AA-

FIF BM

Jul-05

Dec-

05

May-

06

Oct

-06

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

Documents

Invest Update Group New Layout Final - Sun€¦ · Pg 8 Pg 9 Pg 10 Pg 11 Pg 12 Pg 13 Pg 14 as on 29th November 2013. Market Update Slowing growth, high inflation and rising interest