monthly investment update: ulip july, 2011 · 2011-08-26 · sbi life ulip funds fund names...

1

2008

SBI Life has a variety of unit linked products with different funds which gives you flexibility to choose your investment pattern to generate market linked returns according to your risk appetite.

SSBBII LLiiffee UULLIIPP FFUUNNDDSS

Fund Names

Products*

SBI Life - Unit Plus

Super

SBI Life – Smart

Performer

SBI Life – Saral Maha

Anand

SBI Life – Smart

Scholar

SBI Life – Smart Elite

SBI Life – Smart

Horizon

SBI Life – Smart

Pension

SBI Life – Smart

Wealth Assure

Equity

Bond

Money Market

Growth

Balanced

Equity Optimiser

Index

Top 300

P/E Managed

Daily Protect

Daily Protect II

Equity Elite Fund II

Guaranteed Pension Fund (GPF)

Return Guarantee Fund (RGF)

*Please note that Unit Plus III, Horizon III, Maha Anand II, Unit Plus Elite II, Unit Plus II Child, Unit Plus III Pension, Horizon III Pension & Smart ULIP (Series II) are withdrawn w.e.f 1 September 2010. However the various funds under these products are still in force.

ULIPU N I T L I N K E D P R O D U C T S F R O M S B I L I F E I N S U R A N C E C O . L T D .Monthly Investment Update: Volume 4, Issue 4 July, 2011

2

DEBT MARKET REVIEW AND OUTLOOK

MARKET REVIEW

Yields headed north during the month as RBI gave a shock to the markets by hiking policy rates by 50 basis

points (bps) citing uncomfortably high inflation. The hawkishness was also carried out in the statements of the

central banks as they maintained that the policy stance would not change until inflation started trending

down. This only enhanced expectations of a further 25 bps hike on September 16th.

Short term yields including t-bills and CDs have all shot up owing to the RBI action and relatively similar levels

of liquidity tightness compared to June.

Key rate movements during the month are as under:

Instrument Jul '11 Jun '11 Mar ’11 Change YTD Change (MOM)

10 Yr Gsec 8.45% 8.33% 7.98% 0.47% 0.12% 30 Yr Gsec 8.72% 8.66% 8.36% 0.36% 0.06% 3 Yr AAA Bond 9.74% 9.62% 9.32% 0.42% 0.12% 5 Yr AAA Bond 9.46% 9.45% 9.14% 0.32% 0.01% 10 Yr AAA Bond 9.51% 9.44% 9.11% 0.40% 0.07% 364 Days Treasury Bill 8.45% 8.29% 7.58% 0.87% 0.16% 91 Days Treasury Bill 8.35% 8.18% 7.23% 1.12% 0.17% 1 Yr Certificate of Deposit 9.78% 9.75% 9.60% 0.18% 0.03% Crude $/barrel 97$ 95$ 100$ -3$ 2$

(Source: Bloomberg, Reuters & RBI)

Macro Indicators

Index of Industrial output grew at 8.6% year-on-year (y-o-y) in June which turned out to be much

higher than consensus estimates of around 5.7%. This was the newly formed index which has a base

year of 2004-05 versus the old base of 1993-94. The surprising rise came because of the 37% jump in

capital goods sector. The Purchasing Manager’s Index (PMI) number for July has fallen from 55 to 53

levels and this could suggest a further slowdown in Index of Industrial Production (IIP) growth for the

upcoming month.

The June inflation came in at 9.22% against the consensus estimate of 9.2% owing to a 0.3% month-

on-month (m-o-m) rise in manufacturing prices. The MoF believes that 10% figure could be breached

by August; however the base effect could kick in later and bring down the headline inflation.

June, 2011July, 2011

3

India’s trade deficit widened to $ 10 bn in June, with exports growing at above 50% and imports

growing at 80% y-o-y.

Bank deposits in the latest fortnight of FY12 are currently growing at 18.2%. Credit growth rose by

20000 cr and the current growth rate of loans and disbursals is 20.7%.

Source: Bloomberg, Reuters & RBI

Monetary Policy The first quarter review of monetary policy review surprised the domestic financial markets. RBI hiked the

Repo rate (the rate at which it lends funds to the banking system) by 50 bps while most of the markets

including us expected only 25 bps hike. The reasons for the rate hike citied are:

1. Inflation has remained stubbornly high above 9% since January this year in-spite of series of rate hikes

since last year and the forecast for this year is 7% with upside risk coming from higher crude prices

and its direct and indirect transmission to inflation. Domestic demand has also been robust in spite of

higher inflation as wage increases in rural areas, MNREGA and minimum support prices have resulted

in higher spending.

2. The financials of Government of India are also in a bad shape and at this juncture it seems that the

slippage in fiscal deficit will be 0.80% to 1% of GDP ( approx 80k crores) due to higher subsidies in oil

prices and cut in excise and custom duties.

Source: Bloomberg, Reuters & RBI

Global News: US sovereign rating downgraded; France and Germany face slumber; RBA pauses The US sovereign rating was downgraded from AAA to AA+ owing to the susceptibility in their fiscal numbers

going forward. The US Treasury (UST) 10 year yield dropped from 2.4% to 2.14% over the subsequent trading

sessions clearly showing the faith of investors in the safety of US bonds. The lack of confidence is evident in the

markets as one month US t-bills traded at negative yield for a brief while and US banks stopped lending money

market funds to banks based out of Europe owing to fears of the latter’s exposure to French government debt

after talk of a France rating downgrade started doing the rounds. As more economic data get released fears of

a double dip recession are only getting reaffirmed with France GDP growing at 0.0% and Germany growing

merely at 0.1% in Q2 2011. Such slumber in economic growth globally has been pushing up gold prices higher

while having a softening impact on Crude Oil and commodities. The central banks in Asia have now to decide

as to what to do, as RBA has probably set the tone by pausing instead of an expected rate hike owing to these

global uncertainties.

Source: Bloomberg, Reuters

July, 2011

4

OUTLOOK

In the Domestic bond market the 10 year benchmark G sec has been trading in the range of 8.20% to 8.40% for

the last two months. The domestic factors have led to higher bond yields but global developments are acting

as a check on bearish sentiments in the domestic bond markets. The US sovereign downgrade and Euro debt

worries have lowered expectation of real output and further could cause a double –dip recession in the

developed economies. Owing to this commodities have already softened by around 10% from their recent

peaks and crude oil has corrected leading to an expectation of lower inflation and lower subsidies for FY 12.

Indeed the RBI governor will face dilemma while deciding weight between domestic factors and global factors

when it meets again on September 16th for its mid-quarterly review of monetary and credit policy. We believe

than Ten year Gsec has peaked after seeing the recent high of 8.45%. Going forward it will trade in the range

of 8.15 to 8.40, however we expect the range to breach lower level if crude oil fall sharply from the current

range of USD 85-95 per barrel.

EQUITY OUTLOOK Markets moved down 3.5% during the month to end at 18,197 despite wide spread monsoon. Sentiments

were hurt badly by more than anticipated increase in interest rates by Reserve Bank of India (50 basis), results

that came in which were not encouraging and an inconclusive debate over rising of debt ceiling in US. Sensex

outperformed the European counter parts.

Negative returns were despite inflow from Foreign Institutional Investors to the extent of 1.8 billion USD

during the month. Domestic institutions too were buyers to the tune of 125 Million USD.

Some of the positive developments that happened during the month include power Ministers conference to

come out of issues that were facing the distribution companies, group of ministers approving Mines and

Minerals Development and Regulation (which recommended 26% profit sharing with locals), approval for FM

radio phase III expansion and Government unveiling of draft land acquisition bill.

However, new set of woe’s also dogged the markets.

Supreme Court imposed blanket ban of mining in 99 iron ore mines in Karnataka and rightly so. There were

fresh allegations on some of the iron and steel majors for bribing to procure this raw material. The saga of

bribing that hit the markets 3 quarters ago once again resurfaced.

July, 2011

5

Results season is half way through. Most of the companies that reported results have seen compression in

margins thought their top line growth has surpassed estimates on an aggregate basis.

Central Bank of India increased repo rate by 50 basis points. With this the cumulative increase in interest rate

for the last 15 months is around 325 basis points. The commentary from the central bank was hawkish. It

mentioned about watching of inflation trajectory to continue its stance on rate hike. Next few samples are

going to be bad since the full impact of fuel price increase would be factored in here.

With inflation remaining high and IIP numbers (5.6% year on year growth) not encouraging we maintain a

cautious stand on the outlook. We prefer consumer discretionary, Information Technology and

Pharmaceuticals.

Disclaimer:

1) This newsletter only gives an overview of economy and should not be construed as financial advice 2) SBI Life Insurance Co. Ltd however makes no warranties, representations, promises or statements that

information contained herein are correct and accurate. Please consult your Advisor/Consultant before making the investment decision

3) The Company reserves the right to close or add existing / new fund option subject to IRDA approval. 4) Company shall select the investments, including derivatives and units of mutual funds, by each fund at its

sole discretion subject to the investment objectives of the respective plan and the IRDA regulations.

July, 2011

6

INVESTMENT STYLE & FUND PERFORMANCE* As on 31st July 2011

Equity Fund

INVESTMENT STYLE

To provide high equity exposure targeting higher returns in the long term. The fund has the following asset

class allocation strategy:

Assets of Equity Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 80% 100%High

89.15%

Debt & Money Market Instruments 0% 20% 10.85%

FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yrs 3 yrs 4 yrs 5 yrs

Since Inception

(10 Jan 05)

Equity Fund -3.44% 3.82% 12.43% 11.17% 5.77% 12.50% 22.91%

Benchmark - NIFTY -6.03% 2.13% 8.74% 8.16% 4.89% 11.76% 16.78%

Bond Fund

INVESTMENT STYLE To provide relatively safe and less volatile investment option mainly through debt instruments and

accumulation of income through investment in fixed income securities. The fund has the following asset class

allocation strategy:

Assets of Bond Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 60% 100% Low to

Medium

79.83%

Money Market Instruments 0% 40% 20.17%

FUND PERFORMANCE

Returns From


Since Inception

(10 Jan 05)

Bond Fund 2.46% 6.38% 6.62% 10.41% 9.25% 9.60% 8.65%

Benchmark – CRISIL CompBex 2.01% 5.35% 4.98% 7.14% 5.95% 6.05% 5.55%

July, 2011

*i) Returns less than or equal to one year are absolute returns. Returns greater than a year are in terms of Compound Annual Growth Rate (CAGR)

ii) Past performance of any of the funds is not indicative of their future prospects or returns

7

Growth Fund

INVESTMENT STYLE Long-term capital appreciation through investment primarily in equity and equity related instruments with a

small part invested in debt and money market for diversification and risk reduction.

The fund has the following asset class allocation strategy:

Assets of Growth Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 40% 90% Medium

to High

68.53%


FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yrs 3 yrs 4 yrs

5 yrs

Since

Inception

(21 Nov 05)

Growth Fund -3.95% 1.49% 6.73% 5.19% 1.66% 8.10% 13.82%

Benchmark – Nifty (70%)

CompBex (30%)

-3.60% 3.41% 7.96% 3.61% 1.56% 8.92% 11.42%

Balanced Fund

INVESTMENT STYLE To provide accumulation of income through investment in both equities and fixed income securities with an

attempt to maintain a suitable balance between return and safety. The fund has the following asset class


Assets of Balanced Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 40% 60%Medium

48.65%


FUND PERFORMANCE

Returns From


Since Inception

(5 Dec 05)

Balanced Fund -0.77% 3.19% 6.70% 8.99% 7.52% 11.80% 12.06%


CompBex (50%)

-1.99% 4.11% 7.27% 6.57% 4.73% 9.12% 10.19%

July, 2011

8

Equity Optimiser Fund

INVESTMENT STYLE To provide equity exposure targeting higher returns through long term capital gains.


Assets of Equity Optimiser Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

80.15%


FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yrs 3 yrs

Since Inception

(21 Jan 08)

Equity Optimiser Fund -5.94% -0.41% 8.10% 10.04% 5.18%

Benchmark – Nifty (80%) LiquiFEX (20%) -4.31% 3.41% 8.35% 5.14% -0.95%

Index Fund

INVESTMENT STYLE To provide returns closely corresponding to returns of NSE, S&P CNX Nifty Index, though investment

regulations may restrict investment in group companies and some large cap companies listed on the Nifty

Index leading to higher tracking error. The fund has the following asset class allocation strategy:

Assets of Index Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 90% 100%High

98.89%

Money Market Instruments & Cash 0% 10% 1.11%

FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(7 Jan 2010)

Index Fund -5.17% 2.73% 4.11%

Benchmark – Nifty -6.03% 2.13% 2.64%

July, 2011

9

Top 300 Fund

INVESTMENT STYLE To provide long term capital appreciation by investing in stocks of top 300 companies in terms of market

capitalization on the National Stock Exchange. The fund has the following asset class allocation strategy:

Assets of Top 300 Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

76.68%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(7 Jan 2010)

Top 300 Fund -1.87% 2.94% 11.19%

Benchmark – Nifty (80%) LiquiFEX (20%) -4.13% 3.41% 3.58%

P/E Managed Fund INVESTMENT STYLE To provide long term capital appreciation through dynamic asset allocation with reference to forward Price

Earning (P/E) multiple. The allocation to equity and equity related instruments is determined largely by

reference to forward Price Earning (P/E) multiple on the NSE, S&P, CNX Nifty Index and remaining fund is

invested in debt instruments, money market & cash. The fund has the following asset class allocation strategy:

Forward P/E Bands Asset Allocation

Risk Equity & Equity Related Instruments

Debt, Money Market Instruments & Cash

<12 90% to 100% 0% to 10% High 12 ≥ and < 15 80% to 100% 0% to 20%

15 ≥ and < 18 60% to 90% 10% to 40%18 ≥ and < 21 40% to 80% 20% to 60%

≥ 21 0% to 50% 50% to 100%

Actual Asset Mix (As on 30 Jun 11)

Equity: 80.68% Debt, Money Market Instruments & Cash: 19.32%

FUND PERFORMANCE

Returns From

1 April 11

Since Inception

(8 Sep 2010)

P/E Managed Fund -4.78% -2.37%

Benchmark –NA NA NA

July, 2011

10

Daily Protect Fund

INVESTMENT STYLE To provide NAV protection using the CPPI methodology. The asset allocation is dynamically rebalanced to give

a guarantee^ of 105% of the highest NAV in the built-up phase. The fund has the following asset class


Assets of Daily Protect Fund Min Max Risk Actual Asset Mix (As on 30 Jun 11)

Equity & Equity Related Instruments 0% 100% Low to

Medium

84.42%


^The Guaranteed NAV shall be available only at maturity and shall be subject to the Policy being in force till the maturity date. Guarantee charge of 0.50% p.a. of Daily Protect Fund value, would be recovered from the fund (through cancellation of units) to provide the NAV guarantee. FUND PERFORMANCE

Returns From 1 April 11 Since Inception

(6 Sep 2010)

Daily Protect Fund -3.66% -5.00%


Equity Elite Fund II

INVESTMENT STYLE To provide high equity exposure targeting higher returns in the long run. The fund has the following asset class


Assets of Equity Elite Fund II Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

77.76%


FUND PERFORMANCE

Returns From

1 April 11 1 yr Since Inception

(10 Feb 2010)

Equity Elite Fund II -5.10% 3.18% 6.23%

Benchmark – Nifty (80%) LiquiFex (20%) -4.13% 3.41% 9.61%

July, 2011

11

Equity Elite Fund

INVESTMENT STYLE

For long-term capital appreciation through higher exposure in equity and equity related instruments. The fund

has the following asset class allocation strategy:

Assets of Equity Elite Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 60% 100%High

79.22%


FUND PERFORMANCE

Returns From


Since Inception

(22 Feb 08)

Equity Elite Fund -5.71% 2.26% 9.33% 13.00% 11.08%


LiquiFEX (20%)

-4.31% 3.41% 8.35% 5.14% -0.42%

FlexiProtect Fund

INVESTMENT STYLE To optimise returns and provide capital protection by adopting dynamic asset allocation plan. The fund has the

following asset class allocation strategy:

Assets of FlexiProtect Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


Medium

49.43%


FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yr

Since Inception

(9 March 09)

FlexiProtect Fund -1.40% 1.10% 8.79% 24.30%

Benchmark – NA NA NA NA NA

July, 2011

12

FlexiProtect Fund (Series II)

INVESTMENT STYLE To provide capital protection and optimum returns based on systematic asset allocation model. The fund has

the following asset class allocation strategy:

Assets of FlexiProtect Fund (Series II) Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


Medium

77.40%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(8 Jan 2010)

FlexiProtect Fund (Series II) -2.72% 3.30% 9.90%

Benchmark – NA NA NA NA

Equity Pension Fund INVESTMENT STYLE To provide high equity exposure targeting higher returns in the long term. The fund has the following asset

class allocation strategy:

Assets of Equity Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


93.97%


FUND PERFORMANCE

Returns From


Since Inception

(16 Jan 07)

Equity Pension Fund -5.43% 1.01% 7.39% 8.21% 4.10% 7.04%

Benchmark – Nifty -6.03% 2.13% 8.74% 6.20% 2.88% 5.06%

July, 2011

13

Bond Pension Fund INVESTMENT STYLE To provide relatively safe and less volatile investment option mainly through debt instruments and

accumulation of income through investment in fixed income securities. The fund has the following asset class


Assets of Bond Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 60% 100% Low to

Medium

81.54%


FUND PERFORMANCE

Returns From


Since Inception

(16 Jan 07)

Bond Pension Fund 2.46% 6.27% 6.95% 9.13% 8.48% 8.89%

Benchmark – CRISIL CompBex 2.01% 5.35% 4.98% 7.14% 5.95% 6.11%

Growth Pension Fund

INVESTMENT STYLE To provide long-term capital appreciation through investments primarily in equity and equity related

instruments with a small part invested in debt and money market for diversification and risk reduction.


Assets of Growth Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 40% 90% Medium

to High

69.56%


FUND PERFORMANCE

Returns From


Since Inception

(15 Feb 07)

Growth Pension Fund -3.84% 1.74% 8.77% 8.93% 5.38% 10.53%


CompBex (30%)

-3.60% 3.41% 7.96% 1.73% -0.38% 2.03%

July, 2011

14

Balanced Pension Fund INVESTMENT STYLE To provide accumulation of income through investment in both equities and fixed income securities with an

attempt to maintain a suitable balance between return and safety. The fund has the following asset class


Assets of Balanced Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 40% 60%Medium

50.29%


FUND PERFORMANCE

Returns From


Since Inception

(15 Feb 2007)

Balanced Pension Fund -0.73% 3.51% 7.03% 10.35% 9.59% 13.52%


CompBex (50%)

-1.99% 4.11% 7.27% 6.57% 4.73% 5.97%

Equity Optimiser Pension Fund INVESTMENT STYLE To provide equity exposure targeting higher returns (through long term capital gains). The fund has the

following asset class allocation strategy:

Assets of Equity Optimiser Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


79.98%


FUND PERFORMANCE

Returns From


Since Inception

(21 Jan 2008)

Equity Optimiser Pension Fund -5.49% 0.66% 8.53% 10.33% 5.42%

Benchmark – Nifty (80%) LiquiFEX (20%) -4.31% 3.41% 8.35% 5.41% -0.95%

July, 2011

15

Index Pension Fund

INVESTMENT STYLE To provide returns closely corresponding to returns of NSE, S&P CNX Nifty Index, though investment

regulations may restrict investment in group companies listed on index leading to higher tracking error. The

fund has the following asset class allocation strategy:

Assets of Index Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 90% 100%High

98.81%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(18 Jan 2010)

Index Pension Fund -5.13% 2.69% 6.75%

Benchmark – Nifty -6.03% 2.13% 2.54%

Top 300 Pension Fund

INVESTMENT STYLE To provide long term capital appreciation by investing in stocks of top 300 companies in terms of market

capitalization on National Stock Exchange. The fund has the following asset class allocation strategy:

Assets of Top 300 Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

77.23%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(18 Jan 2010)

Top 300 Pension Fund -2.00% 1.14% 8.71%

Benchmark – Nifty (80%) LiquiFEX (20%) -4.31% 3.41% 3.52%

July, 2011

16

Daily Protect Fund II

INVESTMENT STYLE To provide NAV protection using the CPPI methodology. The asset allocation is dynamically rebalanced to give

a guarantee^ of 105% of the highest NAV in the built-up phase. The fund has the following asset class


Assets of Daily Protect Fund II Min Max Risk Actual Asset Mix (As on 30 Jun 11)


Medium

74.86%


^The Guaranteed NAV shall be available only at maturity and shall be subject to the Policy being in force till the maturity date. Guarantee charge of 0.50% p.a. of Daily Protect Fund II value, would be recovered from the fund (through cancellation of units) to provide the NAV guarantee. FUND PERFORMANCE

Returns From 1 April 11 Since Inception

(4 Mar 2011)

Daily Protect Fund II -4.92% 0.47%


Return Guarantee Fund (RGF)*

INVESTMENT STYLE To maximise the investment return subject to a guaranteed return over a pre specified fixed period (till the last

vesting date of all policies invested in the fund). It aims to guarantee a reverse repo related return by investing

mostly in fixed income securities (debt instruments, money market instruments and cash) with maturities

close to the maturity date of the fund.

Assets of RGF Minimum Maximum Risk Actual Asset Mix (As on 30 Jun 11)

Equity 0% 10% Low

Debt &Money Market Instruments 90% 100% 100%

FUND PERFORMANCE- RGF070311

Returns From

1 April 11

Since Inception

(09 Mar 2011)

Return Guarantee Fund (RGF) -0.44% 0.28%


July, 2011

17

FUND PERFORMANCE- RGF150611

Returns From

1 April 11

Since Inception

(21 Jun 2011)

Return Guarantee Fund (RGF) NA -0.28%


*The ‘Return Guarantee’ (Minimum NAV Guarantee) is applicable only in respect of the Return Guarantee Fund (RGF) and

is applicable to the NAV at the end of the 10th year from the start of the subscription period of the Fund and /or sub-

fund(s). The guarantee will apply to all contributions made during the subscription period. To provide the ‘Return

Guarantee’ a guarantee charge of 0.35% p.a. of the Fund Value levied on RGF would be recovered through cancellation of

units.

Money Market Fund

INVESTMENT STYLE To deploy the funds in liquid and safe instruments so as to avoid market risk on a temporary basis.


Assets of Money Market Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 0% 20%Low

0.23%


FUND PERFORMANCE

Returns From


Since Inception

(1 Feb 06)

Money Market Fund 2.32% 6.16% 5.53% 6.56% 6.55% 6.42% 6.34%

Benchmark – LiquiFEX 2.55% 7.37% 5.44% 6.25% 6.41% 6.60% 6.55%

Money Market Pension Fund

To provide an option to deploy the funds in liquid and safe instruments so as to avoid market risk on a

temporary basis. The fund has the following asset class allocation strategy:

Assets of Money Market Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 0% 20%Low

11.36%


July, 2011

18

FUND PERFORMANCE

Returns From


Since Inception

(20 Mar 08)

Money Market Pension Fund 2.77% 7.37% 5.72% 6.64% 6.61%

Benchmark - LiquiFEX 2.55% 7.37% 5.44% 6.25% 6.42%

Guaranteed Pension Fund (GPF070211)^

INVESTMENT STYLE To maximise the investment return subject to a guaranteed return over a pre specified fixed period (till the last

vesting date of all policies invested in the fund). It aims to guarantee a reverse repo related return by investing

mostly in fixed income securities (debt instruments, money market instruments and cash) with maturities

close to the maturity date of the fund.

Assets of GPF Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 0% 10%Low

0%

Debt &Money Market Instruments 90% 100% 100%

FUND PERFORMANCE

Returns From

1 April 11

Since Inception

(09 Feb 2011)

Guaranteed Pension Fund (GPF070211) 1.92% 2.61%


^The Guaranteed NAV is applicable only at maturity, and shall be further subject to the Policy being in force till

the Maturity Date. Guarantee Charge of 0.35% p.a. would be recovered from the Fund (through cancellation of

units) to provide the NAV Guarantee.

July, 2011

19

Funds Inception

Date

Bench marks (BM)

Returns in %(Less than or equal to 1 yr : Absolute Returns, greater than 1 yr : CAGR)

From

1 Apr 11 1 yr 2 yrs

3 yrs

4 yrs

5 yrs

Since Inception

Fund BM Fund BM Fund BM Fund BM Fund BM Fund BM Fund BM

Equity 10-Jan-05 NIFTY

-3.44 -6.03 3.82 2.13 12.43 8.74 11.17 8.16 5.77 4.89 12.50 11.76 22.91 16.78

Equity Pension# 16-Jan-07

-5.43 -6.03 1.01 2.13 7.39 8.74 8.21 6.20 4.10 2.88 NA NA 7.04 5.06

Growth# 21-Nov-

05 Nifty (70%)

CompBex (30%)

-3.95 -3.60 1.49 3.41 6.73 7.96 5.19 3.61 1.66 1.56 8.10 8.92 13.82 11.42

Growth Pension# 15-Feb-07

-3.84 -3.60 1.74 3.41 8.77 7.96 8.93 1.73 5.38 -0.38 NA NA 10.53 2.03

Equity Optimiser* 21-Jan-08

Nifty (80%)

LiquiFEX (20%)

-5.94 -4.31 -0.41 3.41 8.10 8.35 10.04 5.14 NA NA NA NA 5.18 -0.95

Equity Optimiser Pension#* 21-Jan-08

-5.49 -4.31 0.66 3.41 8.53 8.35 10.33 5.14 NA NA NA NA 5.42 -0.95

Equity Elite# 22-Feb-08 -5.71 -4.31 2.26 3.41 9.33 8.35 13.00 5.14 NA NA NA NA 11.08 -0.42

Equity Elite Fund II* 10-Feb-10

-5.10 -4.31 3.18 3.41 NA NA NA NA NA NA NA NA 6.23 9.61

Balanced# 5-Dec-05 Nifty (50%)

CompBex (50%)

-0.77 -1.99 3.19 4.11 6.70 7.27 8.99 6.57 7.52 4.73 11.80 9.12 12.06 10.19

Balanced Pension# 15-Feb-07

-0.73 -1.99 3.51 4.11 7.03 7.27 10.35 6.57 9.59 4.73 NA NA 13.52 5.97

Bond 10-Jan-05 CRISIL CompBex

2.46 2.01 6.38 5.35 6.62 4.98 10.41 7.14 9.25 5.95 9.60 6.05 8.65 5.55

Bond Pension 16-Jan-07

2.46 2.01 6.27 5.35 6.95 4.98 9.13 7.14 8.48 5.95 NA NA 8.89 6.11

Money Market# 1-Feb-06

LiquiFEX

2.32 2.55 6.16 7.37 5.53 5.44 6.56 6.25 6.55 6.41 6.42 6.60 6.34 6.55

Money Market Pension#

20-Mar-08

2.77 2.55 7.37 7.37 5.72 5.44 6.64 6.25 NA NA NA NA 6.61 6.42

FlexiProtect 9-Mar-09

NA

-1.40 NA 1.10 NA 8.79 NA NA NA NA NA NA NA 24.30 NA

FlexiProtect (Series II) 8-Jan-10

-2.72 NA 3.30 NA NA NA NA NA NA NA NA NA 9.90 NA

Guaranteed Pension Fund (GPF070211)

9-Feb-11

1.92 NA NA NA NA NA NA NA NA NA NA NA 2.61 NA

Daily Protect 6-Sep-10

-3.66 NA NA NA NA NA NA NA NA NA NA NA -5.00 NA

Daily Protect II 4-Mar-11

-4.92 NA NA NA NA NA NA NA NA NA NA NA 0.47 NA

RGF070311 9-Mar-11

-0.44 NA NA NA NA NA NA NA NA NA NA NA 0.28 NA

RGF150611 21-Jun-11

NA NA NA NA NA NA NA NA NA NA NA NA -0.28 NA

P/E Managed^ 8-Sep-10

-4.78 NA NA NA NA NA NA NA NA NA NA NA -2.37 NA

Index 7-Jan-10

Nifty -5.17 -6.03 2.73 2.13 NA NA NA NA NA NA NA NA 4.11 2.64

Index Pension 18-Jan-10


Top 300* 7-Jan-10 Nifty (80)

Liquifex (20)


Top 300 Pension* 18-Jan-10


July, 2011

20

# W.e.f. 1st April, 2009 the Benchmark for the funds has been revised for better representation of the investment philosophy of the fund. The benchmark returns mentioned above accordingly represent aggregate performance of old benchmark upto March 09 and revised benchmark thereafter. * W.e.f. 1 June 2010, the Benchmark for the funds have been defined.

Past performance of any of the funds above is not indicative of their future prospects or returns.

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER To know more about us

Visit us at www.sbilife.co.in or Call Toll Free No. 1800 22 9090 SBI Life Insurance Co. Ltd.

Registered Office and Corporate Office: "Natraj", M.V Road & Western Express Highway Junction, Andheri (E), Mumbai-400069

Regn. No. 111 Insurance is the subject matter of solicitation

For more details on Risk Factors, Terms & Conditions, please read the sales brochure carefully before concluding a sale

Risk Factors:

1) Unit Linked Life Insurance products are different from the traditional insurance products and are subject to

the risk factors

2) Premium paid in unit linked policies are subject to market risks associated with capital markets and NAVs of

units may go up or down based on the performance of fund and factors influencing the capital market and

the insured is responsible for his/her decision.

3) SBI Life Insurance Co. Ltd. is only the name of the insurance company and the various products offered are

only the names of the unit linked life insurance contract and does not in any way indicate the quality of the

contract, its future prospects or returns

4) The various funds offered under SBI Life Unit Linked products are only the names of funds and do not in any

way indicate the quality of these funds, their future prospects and returns

5) Please know the associated risks and the applicable charges, from your Insurance agent or the intermediary

or policy document of the insurer

6) Past Performance of the Fund is not indicative of its future prospects or returns.

July, 2011

monthly investment update: ulip july, 2011 · 2011-08-26 · sbi life ulip funds fund names...

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