birla insurance group 2015 · 2015. 8. 13. · pg 11 pg 12 pg 13 pg 14 as on 31st july 2015 growth...
TRANSCRIPT
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
Crisil 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%
8.83% Government Of India 2023 6.48%
7.16% Government Of India 2023 5.47%
9.23% Government Of India 2043 4.46%
8.83% Government Of India 2041 2.45%
8.33% Government Of India 2026 2.21%
8.4% Government Of India 2024 1.99%
9.2% Government Of India 2030 1.60%
8.13% Government Of India 2022 1.52%
8.26% Government Of India 2027 1.43%
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.
Fund Snapshot Know the Fund Better
Group Stable FundFund Manager: 15 years
Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 15 years &
ULGF00312/06/01BSLGSTABLE109
Benchmark: BSE 100 & Crisil Composite Bond Index & Crisil Liquid Fund Index
Portfolio as on Friday, July 31, 2015
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
MMI, Deposits, CBLO & Others
4.17%
GOVERNMENT SECURITIES: 44.88%
9.23% Government Of India 2043 10.14%
8.33% Government Of India 2026 7.97%
8.83% Government Of India 2023 6.43%
8.28% Government Of India 2032 4.01%
8.79% Government Of India 2021 3.62%
8.6% Government Of India 2028 3.24%
8.08% Government Of India 2022 1.94%
8.4% Government Of India 2024 1.59%
8.3% Government Of India 2040 1.59%
7.16% Government Of India 2023 1.33%
Other Government Securities 3.01%
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%
11.25% Power Finance Corpn. Ltd. 2018 0.64%
10.15% Kotak Mahindra Prime Ltd. 2017 0.63%
Other Corporate Debt 4.45%
HDFC Bank Ltd. 2.78%
ICICI Bank Ltd. 2.57%
Infosys Ltd. 2.20%
Reliance Industries Ltd. 1.91%
L&T Ltd. 1.86%
State Bank Of India 1.45%
. Ltd. 1.38%
Axis Bank Ltd. 1.23%
Maruti Suzuki India Ltd. 1.11%
Tata Consultancy Services Ltd. 0.99%
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
7 years & above2 to 7 years
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
Asset held as on 3 454.78cr1st July 2015: `
GOVERNMENT SECURITIES: 31.26%
8.83% Government Of India 2023 7.94%
8.33% Government Of India 2026 3.91%
8.6% Government Of India 2028 2.75%
9.53% State Government Of Gujrat 2024 2.37%
8.79% Government Of India 2021 2.06%
9.23% Government Of India 2043 1.98%
8.2% Government Of India 2022 1.88%
8.28% Government Of India 2032 1.34%
8.4% Government Of India 2024 1.13%
7.16% Government Of India 2023 0.94%
Other Government Securities 4.96%
9.34% REC. Ltd. 2024 2.16%
8.7% Power Finance Corpn. Ltd. 2020 1.86%
8.55% Power Finance Corpn. Ltd. 2021 1.76%
9.02% REC. Ltd. 2022 0.81%
NABARD 2017 0.79%
10.15% Kotak Mahindra Prime Ltd. 2017 0.78%
9.23% LIC Housing Finance Ltd. 2022 0.68%
7.6% HDFC. Ltd. 2017 0.63%
11.25% Power Finance Corpn. Ltd. 2018 0.59%
10.3% Tata Motors Ltd. 2018 0.46%
Other Corporate Debt 2.98%
HDFC Bank Ltd. 3.97%
ICICI Bank Ltd. 3.67%
Infosys Ltd. 3.15%
Reliance Industries Ltd. 2.74%
L&T Ltd. 2.66%
State Bank Of India 2.07%
HDFC. Ltd. 1.98%
Axis Bank Ltd. 1.78%
Maruti Suzuki India Ltd. 1.60%
Tata Consultancy Services Ltd. 1.42%
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.
Modified Duration: 5.67 years
EQUITY: 49.87%
NAV as on 31st July 2015: ` 71.84
CORPORATE DEBT: 13.52%
Maturity Profile
ASSET ALLOCATION
MMI, Deposits, CBLO & Others: 5.35%
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.
Fund Snapshot Know the Fund Better
Group Growth Fund
ULGF00112/06/01BSLGGROWTH109
Benchmark: BSE 100 & Crisil Composite Bond Index & Crisil Liquid Fund Index
Portfolio as on Friday, July 31, 2015
7
Date of Inception: 31-Aug-01
Fund Manager: 15 years
Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 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
7 years & above2 to 7 years
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
Asset held as on 3 40.55cr1st July 2015: `
GOVERNMENT SECURITIES: 27.32%
8.33% Government Of India 2026 6.27%
9.23% Government Of India 2043 5.55%
8.83% Government Of India 2023 3.87%
9.2% Government Of India 2030 2.70%
8.6% Government Of India 2028 2.57%
8.83% Government Of India 2041 2.13%
7.8% Government Of India 2021 1.58%
8.2% Government Of India 2022 0.67%
7.49% Government Of India 2017 0.61%
8.15% Government Of India 2022 0.37%
Other Government Securities 0.98%
9.05% Petronet LNG Ltd. 2019 2.51%
8.57% REC. Ltd. 2024 2.48%
7.6% Power Finance Corpn. Ltd. 2015 1.23%
8.95% HDFC Bank Ltd. 2022 0.75%
8.7% Power Finance Corpn. Ltd. 2020 0.50%
11.95% HDFC. Ltd. 2018 0.27%
HDFC Bank Ltd. 4.70%
ICICI Bank Ltd. 4.40%
Infosys Ltd. 3.77%
Reliance Industries Ltd. 3.28%
L&T Ltd. 3.19%
State Bank Of India 2.47%
HDFC. Ltd. 2.42%
Axis Bank Ltd. 2.16%
Maruti Suzuki India Ltd. 1.92%
Tata Consultancy Services Ltd. 1.70%
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.
Modified Duration: 6.62 years
EQUITY: 59.94%
NAV as on 31st July 2015: ` 25.92
CORPORATE DEBT: 7.74%
Maturity Profile
ASSET ALLOCATION
MMI, Deposits, CBLO & Others: 5.00%
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.
Fund Snapshot Know the Fund Better
Group Growth Advantage Fund
ULGF01026/11/07BSLIGGRADV109
Benchmark: BSE 100 & Crisil Composite Bond Index & Crisil Liquid Fund Index
Portfolio as on Friday, July 31, 2015
8
Date of Inception: 18-Feb-08
Fund Manager: 15 years
Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 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
7 years & above2 to 7 years
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
Asset held as on 3 99.70cr1st July 2015: `
100% of the fund is invested in highest rated instruments.The fund continues to maintain very low maturity profile.
Modified Duration: 0.38 yearsNAV as on 31st July 2015: ` 25.38
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
Group Money Market FundFund Manager: Parin Vora | Total Experience: 15 years
ULGF00824/08/04BSLIGRMMKT109
Benchmark: CRISIL Liquid Fund Index
Portfolio as on Friday, July 31, 2015
9
Maturity Profile
Less than 2 years
100.00%
ASSET ALLOCATIONRATING PROFILE
MMI, Deposits, CBLO & Others: 100.00%
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.
CORPORATE DEBT: 55.01%
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%
10.18% LIC Housing Finance Ltd. 2016 5.48%
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%
11.25% Power Finance Corpn. Ltd. 2018 3.75%
8.64% PGC. Of India Ltd. 2025 1.96%
Other Corporate Debt 2.37%
NAV as on 31st July 2015: ` 17.61
MMI, Deposits, CBLO & Others: 44.99%
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.
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Group Short Term Debt Fund
ULGF01322/09/08BSLGSHTDBT109
Asset held as on 3 25.96cr1st July 2015: ` Modified Duration: 1.82 years
Portfolio as on Friday, July 31, 2015
10
Maturity Profile
ASSET ALLOCATION
Date of Inception: 10-Dec-08
Fund Manager: Parin Vora | Total Experience: 15 years
MMI, Deposits, CBLO & Others
44.99%
NCD
55.01%
RATING PROFILE
AAA
63.10%
BMShort Term Debt
AA+
5.62%A1+
19.98%
7 years & above2 to 7 years
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
Asset held as on 3 66.33cr1st July 2015: `
97% of the fund remains invested in highest rated instruments.
Modified Duration: 5.86 yearsNAV as on 31st July 2015: ` 16.31
9.34% REC. Ltd. 2024 5.56%
11.25% Power Finance Corpn. Ltd. 2018 4.08%
9.7% NABARD 2016 3.97%
9.37% Power Finance Corpn. Ltd. 2024 3.19%
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%
9.44% LIC Housing Finance Ltd. 2019 1.55%
Other Corporate Debt 6.70%
PGC.
CORPORATE DEBT: 37.38%
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.
Fund Snapshot Know the Fund Better
Group Income Advantage Fund
ULGF01425/02/10BSLGINCADV109
Portfolio as on Friday, July 31, 2015
Maturity Profile
ASSET ALLOCATIONRATING PROFILE
GOVERNMENT SECURITIES: 53.42%
9.23% Government Of India 2043 16.98%
8.83% Government Of India 2023 13.41%
8.33% Government Of India 2026 6.13%
8.2% Government Of India 2022 3.23%
7.5% Government Of India 2034 3.02%
8.79% Government Of India 2021 2.10%
8.83% Government Of India 2041 1.63%
8.08% Government Of India 2022 1.59%
8.15% Government Of India 2022 1.56%
8.4% Government Of India 2024 1.55%
Other Government Securities 2.22%
MMI, Deposits, CBLO & Others: 9.20%
11
Date of Inception: 23-Mar-10
Fund Manager: Parin Vora | Total Experience: 15 years
NCD
37.38% 9.20%
MMI, Deposits, CBLO & Others
53.42%G-Secs
56.17%
Sovereign
AAA
36.12%
Gr. Inc Adv BM
AA+
3.18%
A1+
4.54%
7 years & above2 to 7 years
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
Asset held as on 3 11.62cr1st July 2015: `
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.
Modified Duration: 9.25 yearsNAV as on 31st July 2015: ` 21.28
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.
Fund Snapshot Know the Fund Better
Group Gilt Fund
ULGF00630/05/03BSLIGRGILT109
GOVERNMENT SECURITIES: 98.06%
9.23% Government Of India 2043 50.86%
8.83% Government Of India 2041 11.62%
9.15% Government Of India 2024 7.35%
9.2% Government Of India 2030 6.58%
8.83% Government Of India 2023 6.30%
8.28% Government Of India 2027 4.37%
8.15% Government Of India 2022 4.32%
8.2% Government Of India 2023 2.85%
8.23% Government Of India 2027 2.77%
8.3% Government Of India 2042 0.95%
Other Government Securities 0.09%
MMI, Deposits, CBLO & Others: 1.94%
Maturity Profile
ASSET ALLOCATION
Portfolio as on Friday, July 31, 2015
RATING PROFILE
12
Sovereign100.00%
Date of Inception: 28-Apr-04
Fund Manager: Parin Vora | Total Experience: 15 years
MMI, Deposits, CBLO & Others
1.94%
98.06%G-Secs
7 years & above2 to 7 years
Less than 2years
94.91%
4.47%
0.63%
Asset held as on 3 240.47cr1st July 2015: `
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.
Fund Snapshot Know the Fund Better
Group Bond Fund
ULGF00530/05/03BSLIGRBOND109
CORPORATE DEBT: 83.23%
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%
9.4% Export Import Bank Of India 2023 2.20%
9.37% Power Finance Corpn. Ltd. 2024 2.20%
9.35% PGC. Of India Ltd. 2020 2.16%
Other Corporate Debt 51.57%
MMI, Deposits, CBLO & Others: 16.77%
Benchmark: Crisil AAA long term index & Crisil AA short term index & CRISIL Liquid Fund Index
Maturity Profile
Portfolio as on Friday, July 31, 2015
13
ASSET ALLOCATIONRATING PROFILE
Date of Inception: 28-Jan-07
Fund Manager: Parin Vora | Total Experience: 15 years
NCD83.23%
MMI, Deposits, CBLO & Others
16.77%6.47%AA
9.52%
AA+
0.48%A1+
AAA
83.53%
7 years & above2 to 7 years
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.
Fund Snapshot Know the Fund Better
Group Fixed Interest Fund
ULGF00416/07/02BSLGFIXINT109
GOVERNMENT SECURITIES: 55.57%
8.6% Government Of India 2028 16.31%
8.4% Government Of India 2024 9.17%
7.72% Government Of India 2025 8.14%
8.83% Government Of India 2023 7.94%
7.16% Government Of India 2023 3.53%
8.17% Government Of India 2044 3.03%
8.13% Government Of India 2045 2.26%
9.2% Government Of India 2030 1.68%
8.32% Government Of India 2032 1.52%
8.8% State Government Of AP 2022 0.76%
Other Government Securities 1.23%
8.68% LIC Housing Finance Ltd. 2020 2.01%
9.4% Export Import Bank Of India 2023 1.58%
9.37% Power Finance Corpn. Ltd. 2024 1.57%
9.64% PGC. Of India Ltd. 2021 1.57%
9.95% State Bank Of India 2026 1.53%
8.48% Power Finance Corpn. Ltd. 2024 1.49%
8.4% PGC. Of India Ltd. 2024 1.49%
9.55% Hindalco Industries Ltd. 2022 1.35%
8.7% Power Finance Corpn. Ltd. 2020 1.20%
8.99% Tata Capital Financial Services
Limited 2017 0.97%
Other Corporate Debt 20.54%
CORPORATE DEBT: 35.29%
Maturity Profile
ASSET ALLOCATION
Benchmark: Crisil Composite Bond index & Crisil Liquid Fund Index
MMI, Deposits, CBLO & Others: 9.14%
Portfolio as on Friday, July 31, 2015
14
RATING PROFILE
Date of Inception: 18-Nov-02
Fund Manager: Parin Vora | Total Experience: 15 years
FIF BM
55.57%G-Secs
MMI, Deposits, CBLO & Others
9.14%NCD
35.29%AA+
4.30% 3.20%
2.07%
AA
A1+
AAA
30.53%
59.89%
Sovereign
7 years & above2 to 7 years
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