birla insurance group mar 16 · 2017-04-10 · rbi in its policy meet on 5th april 2016 has cut...

March 2016

Index

Secure Fund

Stable Fund

Stable Fund 2

Growth Fund

Growth Fund 2

Money Market Fund

Money Market Fund 2

Income Advantage Fund

Gilt Fund

Bond Fund

Fixed Interest Fund

Fixed Interest Fund 2

Short Term Debt Fund

Short Term Debt Fund 2

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

Pg 15

Pg 16

Pg 17

Pg 18

Pg 19

as on 31st March 2016

Growth Advantage Fund

Market Outlook

Fund Managers Profile

Fund Performance

Market Update

1

Economy Review

Markets reacted positively to the union budget and gained in March. RBI in its policy meet on 5th April

2016 has cut repo rate by 25 basis points as 1) the government showed its commitment towards fiscal

consolidation in union budget and 2) lower inflation recorded in the month of February 2016. The new

marginal cost-based lending rate (MCLR) has replaced the base rate mechanism from 1st April 2016 for

determining the lending rates. The MCLR mechanism will result in better monetary transmission. The new

MCLR mechanism and rate cut by RBI will bring down the interest rates in India.

Source: Budget document, Macquaire

Both manufacturing and services PMI for the month of March 2016 have shown improvements. Services

PMI improved from 51.4 in February 2016 to 54.3 in March 2016. Manufacturing PMI improved from 51.1

in February 2016 to 52.4 in March 2016.

Source:Tradingeconomics.com

Lower inflation and lower interest rates will have positive impact on the Indian markets. The encouraging

manufacturing and services PMI reflects the strength in the economy.

Market Update

2

Outlook for Equities

Indian equity markets gained around 11 per cent in March 2016. FIIs bought $3.6bn in March after being

sellers in January and February. Cumulatively, they are net buyers of $752bn for the year 2016. Domestic

institutions were net sellers for the month. They sold $2.4bn in March. Cumulatively, they are net buyers of

$1.1bn for the year 2016.

Lower interest rates means capital will be available to companies at lower rates. Lower interest rate will

help revive the consumption cycle as individual borrowers will have to pay lower EMIs and will have more

money available to spend. Both these factors will lead to growth in corporate earnings.

At a 14.5 multiple of FY17 earnings, markets are trading below their 15 year average. With a high

corporate earnings growth, investors in equity funds can expect significant gains in long-term.

Outlook for Debt

The 10 year bond yield moved from 7.61 per cent to 7.47 per cent in the month, a reduction of 14 basis

points. Indian bonds markets reacted positively on the US Fed decision to leave the rates unchanged.

We expect the 10 year G-sec yield to be in the range of 7.3 per cent to 7.5 per cent in near term. The

corporate bond yields are expected to trail the G-sec market with a spread of 40-60 basis points.

Investors in bond funds will gain significantly with bond yields coming down further.

31-Mar-16 29-Feb-16 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

7738.40 6987.05 10.75%

25341.86 23002.00 10.17%

7835.45 7075.44 10.74%

17685.09 16516.50 7.08%

16758.67 16026.76 4.57%

20776.70 19111.93 8.71%

4869.85 4557.95 6.84%

NSEBSE

4000

5000

6000

7000

8000

9000

10000

22000

23000

24000

25000

26000

27000

28000

29000

30000

Jan-

15

Feb-

15

Mar

-15

Aug-

15

Apr-

15

May

-15

Jun-

15

Jul-1

5

Sep-

15

Oct

-15

Nov

-15

Dec

-15

Jan-

16

Feb-

16

Mar

-16

bps

5 year AAA Corporate Bond Spread10 Yr G-Sec Yield

Perc

enta

ge(%

)

Key Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

Call Rates

31-Mar-16 29-Feb-16 % Change

7.47% 7.63% -2.14%

7.43% 7.64% -2.83%

7.13% 7.26% -1.82%

7.06% 7.25% -2.69%

6.76% 6.58% 2.66%15

40

65

90

115

140

4.0

5.0

6.0

7.0

8.0

9.0

Jan-

15

Feb

-15

Mar

-15

Aug

-15

Apr

-15

Ma

y-15

Jun-

15

Jul-

15

Sep

-15

Oct

-15

Nov

-15

Dec

-15

Jan-

16

Feb

-16

Mar

-16

Fund Managers Profile

Mr. Sameer Mistry

Mr. Parin Vora

Mr. Sameer Mistry joined BSLI in January 2009. He has over 17 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 17 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 March 2016

Group Funds Figures in percentage (%)

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.* Duration for Money Market Instrument and FD’s is considered as "Zero".

4

Absolute Return

CAGR

Returns Period

Absolute Return

CAGR

Returns Period

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

SecureFund

BMStableFund

BMStableFund 2

BMGrowthFund

BMGrowthFund 2

BM

3.78 3.36

1.08 1.05

1.70 1.90

3.35 3.80

10.37 9.17

9.12 8.33

9.35 8.40

8.18 7.59

10.51 8.35

5.29 4.68

0.07 0.21

0.52 0.92

0.79 1.40

10.57 8.84

9.80 8.69

9.76 8.57

8.05 7.23

12.91 9.62

5.45 4.68

0.36 0.21

1.02 0.92

1.97 1.40

10.92 8.84

10.68 8.69

10.25 8.57

- -

11.19 9.13

6.63 6.01

-1.16 -0.63

-0.67 -0.08

-1.77 -0.99

10.76 8.46

10.49 9.00

10.16 8.69

7.78 6.81

14.19 10.79

6.66 6.01

-0.88 -0.63

-0.12 -0.08

-0.55 -0.99

11.12 8.46

11.15 9.00

11.38 8.69

- -

12.29 9.43

Growth Advantage

BMMoney

Market Fund BM

Money Market Fund 2

BMShort TermDebt Fund

BMShort Term

Debt Fund 2BM

7.59 6.90

-1.77 -1.21

-1.38 -0.76

-3.45 -2.59

11.14 8.18

11.18 9.18

10.71 8.75

8.20 6.51

11.72 5.56

0.61 0.74

1.83 1.70

3.76 3.26

7.92 6.85

8.27 7.29

8.52 7.62

8.82 7.67

8.93 7.74

9.32 6.70

0.64 0.74

1.92 1.70

3.89 3.26

8.04 6.85

8.56 7.29

8.73 7.62

8.89 7.67

- -

8.96 7.75

0.98 1.08

2.09 1.92

3.86 3.32

7.92 7.25

8.59 8.16

8.50 7.97

9.10 8.15

9.14 8.09

8.82 7.44

1.17 1.08

2.24 1.92

4.17 3.32

8.84 7.25

9.67 8.16

9.61 7.97

10.41 8.15

- -

10.33 8.16

Absolute Return

CAGR

Returns

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

Period BMBMGilt Fund

3.26

3.10

2.64

6.17

11.56

7.90

8.79

7.95

7.05

1.79 1.78

2.13 2.07

3.43 3.33

7.51 7.02

9.68 9.28

8.76 8.15

9.61 8.52

9.55 8.38

10.66 8.23

2.50 1.56

2.80 2.11

2.96 3.18

6.57 6.99

10.66 9.54

9.24 7.77

10.05 8.11

9.87 7.99

8.85 6.22

2.32 1.56

2.70 2.11

3.37 3.18

7.23 6.99

10.71 9.54

8.86 7.77

9.48 8.11

10.09 7.99

9.50 7.49

Fixed Interest Fund 2

BM

1.97 1.56

3.12 2.11

4.23 3.18

8.43 6.99

12.79 9.54

11.58 7.77

11.64 8.11

- -

11.69 8.25

Fixed Interest Fund

Bond FundIncome

Advantage Fund BM

Benchmark Composition SFINFund NameSecure

Stable

Stable 2

Growth

Growth 2

Growth Advantage

Money Market

Money Market 2

Short Term Debt Fund

Short Term Debt 2

Income Advantage

Gilt Fund

Bond Fund

Fixed Interest

Fixed Interest 2

BSE 100

BSE 100

BSE 100

BSE 100

BSE 100

BSE 100

-

-

-

-

-

-

-

-

-

20%

35%

35%

50%

50%

60%

-

-

-

-

-

-

-

-

-

70%

55%

55%

40%

40%

30%

-

-

-

85%

-

70%

15%

85%

85%

10%

10%

10%

10%

10%

10%

100%

100%

-

-

15%

-

15%

15%

15%

Crisil Composite Bond Index






-

-

Crisil Short Term Bond Index

-


-

CRISIL AAA Long Term Bond Index &

CRISIL AA Short Term Bond Index



Crisil Liquid Fund Index








-

-


-


-



ULGF00212/06/01BSLGSECURE109

ULGF00312/06/01BSLGSTABLE109

ULGF02228/11/11BSLGSTABL2109

ULGF00112/06/01BSLGGROWTH109

ULGF01828/11/11BSLGROWTH2109

ULGF01026/11/07BSLIGGRADV109

ULGF00824/08/04BSLIGRMMKT109

ULGF01928/11/11BSLGRMMKT2109

ULGF01322/09/08BSLGSHTDBT109

ULGF02128/11/11BSLGSHTDB2109

ULGF01425/02/10BSLGINCADV109

ULGF00630/05/03BSLIGRGILT109

ULGF00530/05/03BSLIGRBOND109

ULGF00416/07/02BSLGFIXINT109

ULGF01728/11/11BSLGFXINT2109

Asset held as on 3 ` 1294.51 cr1st March 2016:

GOVERNMENT SECURITIES: 50.52%

9.2% Government Of India 2030 7.72%










Other Government Securities 8.85%

8.9% Steel Authority Of India Ltd. 2019 1.51%

8.57% REC. Ltd. 2024 1.22%

9.25% PGC. Of India Ltd. 2019 0.93%

9.15% ICICI Bank Ltd. 2022 0.80%

9.25% Reliance Jio Infocomm Ltd 2024 0.79%

9% Tata Capital Fin Services Ltd 2017 0.77%

8.39% HDFC. Ltd. 2019 0.77%

9.95% Tata Motors Ltd. 2020 0.71%

8.58% HDFC. Ltd. 2018 0.66%

8.99% Tata Capital Fin Services Ltd 2017 0.66%

Other Corporate Debt 11.75%

HDFC Bank Ltd. 1.96%

Infosys Ltd. 1.76%

Reliance Industries Ltd. 1.30%

ICICI Bank Ltd. 1.19%

ITC Ltd. 1.00%

Larsen & Toubro Ltd. 0.91%

Tata Motors Ltd. 0.74%

State Bank Of India 0.71%

Sun Pharmaceutical Inds. Ltd. 0.56%

HDFC. Ltd. 0.55%

Other Equity 8.91%

RATING PROFILE

Exposure to equities has slightly increased to 19.58% from 19.05 , G-Secs has increased to 50.52% from 48.65% and MMI has slightly decreased to 9.33% from 9.52 on a MOM basis. Over 80% 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: 6.01 years

EQUITY: 19.58%

NAV as on 31st March 2016: 43.84`

CORPORATE DEBT: 20.57%

Maturity Profile

ASSET ALLOCATION

MMI, : 9.33%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: 17 years &17 years

ULGF00212/06/01BSLGSECURE109

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

SECTORAL ALLOCATION

Portfolio as on Thursday, March 31, 2016

Maturity Profile

Date of Inception: 19-Jun-01

AAA

18.77%

70.97%

Sovereign

1.68%AAAA+

7.82%

50.52%G-Secs

MMI, Deposits, CBLO & Others

9.33%

NCD20.57%

Equities19.58%

Secure BM

5

0.54%A+

0.13%A1+

0.09%AA-

1.09%

1.10%

1.23%

1.29%

2.22%

2.40%

3.02%

3.27%

3.77%

7.14%

7.46%

8.29%

8.40%

11.67%

14.00%

23.66%

CONSTRUCTION

METAL

DIVERSIFIED

POWER

TELECOMMUNICATION

OTHERS

AGRI RELATED

CEMENT

FINANCIAL SERVICES

FMCG

AUTOMOBILE

CAPITAL GOODS

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING

7 years & above2 to 7 years

Less than 2years

60.80%

17.69% 21.52%

Mar

-09

Sep-0

9

Mar

-10

Sep-1

0

Mar

-11

Sep-1

1

Mar

-12

Sep-1

2

Mar

-13

Sep-1

3

Mar

-14

Sep-1

4

Mar

-15

Sep-1

5

Mar

-16

Asset held as on 3 338.84 cr1st March 2016: `

RATING PROFILE

Over 99% 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: 6.17 yearsNAV as on 31st March 2016: ` 58.78

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: 17 years

Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 17 years &

ULGF00312/06/01BSLGSTABLE109



6

Date of Inception: 31-Aug-01

MMI, Deposits, CBLO & Others: 8.81%

NCD15.44%

AAA25.12%

Sovereign73.76%

AA+1.01%

32.35%

Equities

ASSET ALLOCATION

Maturity Profile

Stable BM

43.40%G-Secs


8.81%













8.65% REC. Ltd. 2019 2.79%

10.1% PGC. Of India Ltd. 2017 1.51%

8.9% LIC Housing Finance Ltd. 2020 1.49%



9.4% NABARD 2016 0.89%

9.6% HDFC. Ltd. 2016 0.89%

9.61% Power Finance Corpn. Ltd. 2021 0.78%

9.33% NABARD 2017 0.75%

10.15% Kotak Mahindra Prime Ltd. 2017 0.60%



Infosys Ltd. 2.73%



ITC Ltd. 1.63%




HDFC. Ltd. 0.95%


Other Equity 15.28%

EQUITY: 32.35%CORPORATE DEBT: 15.44%

AA0.10%

1.07%

1.23%

1.40%

2.29%

3.26%

3.33%

3.67%

3.99%

7.01%

7.57%

7.94%

8.65%

11.74%

13.48%

23.37%

CONSTRUCTION

METAL

POWER

TELECOMMUNICATION

AGRI RELATED

CEMENT

OTHERS

FINANCIAL SERVICES

FMCG

AUTOMOBILE

CAPITAL GOODS

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

59.14%

21.83%

19.03%

Mar

-09

Sep-0

9

Mar

-10

Sep-1

0

Mar

-11

Sep-1

1

Mar

-12

Sep-1

2

Mar

-13

Sep-1

3

Mar

-14

Sep-1

4

Mar

-15

Sep-1

5

Mar

-16


RATING PROFILE



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 Fund 2Fund Manager: 17 years


ULGF02228/11/11BSLGSTABL2109



7

Date of Inception: 28-Nov-11


NCD10.00%

34.58%

Equities

ASSET ALLOCATION

Maturity Profile

Stable 2 BM

52.32%G-Secs






10.7% IRFC. Ltd. 2023 10.00% HDFC Bank Ltd. 3.41%

Infosys Ltd. 2.91%



ITC Ltd. 1.77%




HDFC. Ltd. 1.03%


Other Equity 16.08%

EQUITY: 34.58%CORPORATE DEBT: 10.00%


3.09%

Sovereign83.96%

AAA16.04%

1.08%

1.13%

1.25%

1.30%

2.20%

2.35%

3.30%

3.36%

3.97%

7.05%

7.27%

8.15%

8.48%

11.81%

13.58%

23.69%

POWER

CONSTRUCTION

ALCOHOL BEVERAGES

METAL

OTHERS

TELECOMMUNICATION

AGRI RELATED

CEMENT

FINANCIAL SERVICES

FMCG

AUTOMOBILE

CAPITAL GOODS

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING

7 years & above

Less than 2 years

98.55%

1.45%

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16






9.53% State Government Of Gujrat 2024 2.46%








9.34% REC. Ltd. 2024 2.24%



NABARD 2017 0.86%

9.02% REC. Ltd. 2022 0.85%




10.3% Tata Motors Ltd. 2018 0.47%

9.9% Cholamandalam Investment &Finance Co. Ltd. 2016 0.45%



Infosys Ltd. 4.16%



ITC Ltd. 2.51%




HDFC. Ltd. 1.44%


Other Equity 23.12%

RATING PROFILE



EQUITY: 49.06%

NAV as on 31st March 2016: ` 69.32


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.



8

Group Growth Fund

ULGF00112/06/01BSLGGROWTH109

Portfolio as on Thursday, March 31, 2016Date of Inception: 31-Aug-01

Fund Manager: 17 years


G-Secs

33.84%

49.06%

Equities

NCD

4.36%

MMI, Deposits, CBLO & Others12.74%

AAA

24.51%

72.65%

Sovereign

AA

0.98%

AA+

1.87%

Gr. Growth BM

1.02%

1.09%

1.18%

2.34%

3.32%

3.36%

3.69%

4.01%

7.11%

7.57%

7.90%

8.76%

11.64%

13.57%

23.43%

DIVERSIFIED

METAL

POWER

TELECOMMUNICATION

AGRI RELATED

CEMENT

OTHERS

FINANCIAL SERVICES

FMCG

AUTOMOBILE

CAPITAL GOODS

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

62.98%

25.28%

11.74%

Fund Snapshot

Mar

-09

Sep

-09

Mar

-10

Sep

-10

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16









9.25% PGC. Of India Ltd. 2017 6.33%

8.4% NPC. Of India Ltd. 2027 3.62%

9.6% L&T Finance Ltd. 2016 1.77%

9.74% Tata Sons Ltd. 2024 1.13%


Infosys Ltd. 4.15%



ITC Ltd. 2.54%




HDFC. Ltd. 1.43%


Other Equity 22.93%

RATING PROFILE



EQUITY: 49.12%



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 2

ULGF01828/11/11BSLGROWTH2109



9




G-Secs

31.54%

49.12%

Equities

NCD

6.48%


AAA

24.95%

71.06%

Sovereign

AA+

3.99%

Gr. Growth 2 BM

1.13%

1.14%

1.25%

2.02%

3.33%

3.37%

3.50%

3.98%

7.37%

7.59%

7.82%

8.47%

11.71%

13.48%

23.82%

CONSTRUCTION

POWER

METAL

TELECOMMUNICATION

AGRI RELATED

CEMENT

OTHERS

FINANCIAL SERVICES

FMCG

AUTOMOBILE

CAPITAL GOODS

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

73.15%

0.38%

26.47%

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16














9.05% Petronet LNG Ltd. 2019 2.55%

8.57% REC. Ltd. 2024 2.55%

8.95% HDFC Bank Ltd. 2022 0.76%

9.6% L&T Finance Ltd. 2016 0.63%


11.95% HDFC. Ltd. 2018 0.27%


Infosys Ltd. 4.92%



ITC Ltd. 3.01%




HDFC. Ltd. 1.72%


Other Equity 27.28%

RATING PROFILE

91% 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.


EQUITY: 58.49%



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



10

Date of Inception: 18-Feb-08



58.49%

Equities

G-Secs

28.15%

NCD

6.09%


Sovereign

79.49%

AAA

11.54%AA+

8.97%


1.02%

1.07%

1.13%

1.24%

2.30%

2.66%

3.30%

3.34%

3.99%

7.13%

7.61%

7.72%

8.61%

11.70%

13.40%

23.78%

DIVERSIFIED

POWER

CONSTRUCTION

METAL

TELECOMMUNICATION

OTHERS

AGRI RELATED

CEMENT

FINANCIAL SERVICES

FMCG

AUTOMOBILE

CAPITAL GOODS

PHARMACEUTICALS

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

66.35%

18.28%

15.37%

Mar

-09

Sep

-09

Mar

-10

Sep

-10

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16


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: 17 years

ULGF00824/08/04BSLIGRMMKT109

Benchmark: CRISIL Liquid Fund Index


11

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATION

Date of Inception: 30-Mar-05

NCD

9.14%


MM BM


90.86%

RATING PROFILE

AAA

11.29%

A1+

88.71%




Mar

-09

Sep

-09

Mar

-10

Sep

-10

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16


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 Fund 2Fund Manager: Parin Vora | Total Experience: 17 years

ULGF01928/11/11BSLGRMMKT2109

Benchmark: CRISIL Liquid Fund Index


12

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATION



MM BM


77.22%

G-Secs

22.78%

RATING PROFILE


Government Of India 2016 22.78%

Sovereign

45.83%

A1+

54.17%

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16

Exposure to corporate debt has increased to 54.25% from 51.28% and MMI has decreased to 45.75% from 48.72% on a MOM basis. Over 79% of the fund is invested in highest rated instruments.


10.5% Au Financiers (India) Limited 2019 7.88%

9.15% Larsen & Toubro Ltd. 2019 7.24%

9.7% NABARD 2016 6.27%

9.1% HDFC Bank Ltd. 2022 5.95%

10.05% Can Fin Homes Ltd. 2017 5.12%


9.04% REC. Ltd. 2019 4.02%

8.99% Tata Capital Fin Services Ltd 2017 2.74%

8.64% PGC. Of India Ltd. 2025 2.00%





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 25.58 cr1st March 2016: ` Modified Duration: 1.28 years


13

Maturity Profile

ASSET ALLOCATION

Date of Inception: 10-Dec-08

Fund Manager: Parin Vora | Total Experience: 17 years


45.75%

NCD

54.25%

RATING PROFILE

AAA

69.81%

BMShort Term Debt

A1+

9.04%A+

13.22%


Less than 2years

2.21%

36.26%

61.53%

AA+

7.93%

Mar

-09

Sep

-09

Mar

-10

Sep

-10

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16

Exposure to corporate debt has increased to 78.13% from 74.30% and MMI has decreased to 21.87% from 25.70% on a MOM basis. Over 90% of the fund is invested in highest rated instruments.


9.7% NABARD 2016 7.49%

8.49% NHPC Ltd. 2016 7.49%

9.64% PGC. Of India Ltd. 2018 6.42%

9.04% REC. Ltd. 2019 6.41%

9.15% Larsen & Toubro Ltd. 2019 6.40%

9.3% HDFC. Ltd. 2017 5.87%

9.85% State Bank Of India 2016 5.42%


8.4% NPC. Of India Ltd. 2027 3.40%

8.84% PGC. Of India Ltd. 2016 3.12%




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 2

ULGF02128/11/11BSLGSHTDB2109

Asset held as on 3 24.09 cr1st March 2016: ` Modified Duration: 1.35 years


14

Maturity Profile

ASSET ALLOCATION



RATING PROFILE

AAA

85.48%

BMShort Term Debt 2

AA

2.57%

AA+

5.13%

A1+

4.25%


21.87%

NCD

78.13%

A+2.57%


Less than 2years

5.53%

34.69%

59.78%

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16


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


9.34% REC. Ltd. 2024 5.41%

9.9% HDFC. Ltd. 2021 4.61%


9.15% Export Import Bank Of India 2022 3.04%

9.25% PGC. Of India Ltd. 2019 3.04%

8.65% India Infradebt Ltd 2026 2.93%


9.02% REC. Ltd. 2022 2.11%

9.25% PGC. Of India Ltd. 2020 1.90%

9.25% PGC. Of India Ltd. 2019 1.89%



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

ASSET ALLOCATIONRATING PROFILE














15

Date of Inception: 23-Mar-10


NCD

38.70% 5.57%


55.73%G-Secs

Gr. Inc Adv BM

59.02%

Sovereign

AAA

37.89% AA+

3.10%


Less than 2years

67.08%

28.17%

4.75%

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16


Exposure to G-Secs has decreased to 97.48% from 98.07% and MMI has increased to 2.52% from 1.93% 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

16

Sovereign100.00%

Date of Inception: 28-Apr-04



2.52%

97.48%G-Secs













Less than 2years

95.32%

4.22%

0.46%


Exposure to corporate debt has increased to 90.46% from 78.54% and MMI has decreased to 9.54% from 21.46% on a MOM basis. Over 96% of the fund remains invested in highest rated instruments.

Modified Duration: 3.88 yearsNAV as on ` 26.5631st March 2016:

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 5.30%


9.5% HDFC. Ltd. 2024 4.63%

8.54% NPC. Of India Ltd. 2023 4.48%

8.57% REC. Ltd. 2024 3.34%

9.15% ICICI Bank Ltd. 2022 3.16%

9.04% REC. Ltd. 2019 2.93%





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

Maturity Profile


17

ASSET ALLOCATION

RATING PROFILE

Date of Inception: 28-Jan-07


3.37%AA14.73%

AA+

AAA

81.41%

0.49%A+

NCD

90.46%


9.54%

Gr. Bond BM


Less than 2years

32.45%

52.07%

15.48%

Mar

-09

Sep

-09

Mar

-10

Sep

-10

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16

Asset held as on 3 878.10 cr1st March 2016: ` Modified Duration: 7.19 yearsNAV as on ` 31.0931st March 2016:

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














9.55% Hindalco Industries Ltd. 2022 2.60%



10.5% AU Financiers (India) Ltd 2019 1.32%

9.55% Hindalco Industries Ltd. 2022 1.30%



8.4% PGC. Of India Ltd. 2024 1.15%




Maturity Profile

ASSET ALLOCATION




18

RATING PROFILE



FIF BM

65.73%G-Secs


7.99%

NCD26.28%

Exposure to corporate debt has increased to 26.28% from 24.74%, G-Secs has decreased to 65.73% from 72.50% and MMI has increased to 7.99% from 2.76% on a MOM basis. Over 93% of the fund remains invested in highest rated instruments.

A+1.44%

0.45%

4.24%AA-

AA

AAA

21.66%

71.44%

Sovereign

0.78%AA+


Less than 2years

81.41%

13.76%

4.83%

Mar

-09

Sep

-09

Mar

-10

Sep

-10

Mar

-11

Sep

-11

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16

Asset held as on 3 4.07 cr1st March 2016: ` Modified Duration: 6.25 yearsNAV as on ` 16.1631st March 2016:

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 2

ULGF01728/11/11BSLGFXINT2109




8.99% Tata Capital Financial Services

Limited 2017 7.38%


Maturity Profile

ASSET ALLOCATION




19

RATING PROFILE



FIF 2 BM

88.40%G-Secs


4.23%

NCD7.38%

Exposure to corporate debt has slightly decreased to 7.38% from 7.45%, G-Secs has slightly decreased to 88.40% from 88.64% and MMI has slightly increased to 4.23% from 3.91% on a MOM basis. Over 92% of the fund remains invested in highest rated instruments.

AA+

7.70%

92.30%

Sovereign

7 years & above

Less than 2 years

89.03%

10.97%

Mar

-12

Sep

-12

Mar

-13

Sep

-13

Mar

-14

Sep

-14

Mar

-15

Sep

-15

Mar

-16

birla insurance group mar 16 · 2017-04-10 · rbi in its policy meet on 5th april 2016 has cut...

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