birla insurance group april 16 to wait for the next session to come up for discussions in the house....

April 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 29th April 2016

Growth Advantage Fund

Market Outlook

Fund Managers Profile

Fund Performance

Market Update

1

Economy Review

Reserve Bank of India (RBI) in the April policy review meet cut the repo rate by 25 basis points. RBI

announced various measures to increase liquidity in the system. Through the various measures, RBI

mentioned that the liquidity in the system which is currently at negative 1 per cent will be brought close

to neutral. These measures should bring down the interest rates in the economy over medium to long

term.

On the political front, the joint parliament standing committee has cleared the Bankruptcy and

Insolvency code. It is most likely to be discussed in the current parliament session. The GST bill might

have to wait for the next session to come up for discussions in the house.

News on the macro-economic front was good. Index of Industrial Production (IIP) rebounded from 1.5

per cent in January-16 to 2 per cent in February-16 correcting to 0.1 per cent in March-16. Inflation

(CPI) for March-16 was recorded at 4.83 per cent compared to 5.26 per cent in February-16. The

inflation for the month of April-16 was recorded slightly higher at 5.39 per cent. Good set of macro-

economic numbers indicate strength in the economy.

The Indian Met Department (IMD) has forecast above normal monsoons at 106 per cent of the long-

period average for the year. This will be a positive for the rural sector after two consecutive years of

below average monsoons of 88 per cent and 86 per cent rainfall in the year 2014 and 2015

respectively. Monsoons along with government initiatives will boost the rural consumption which is a

key to domestic GDP growth.

Market Update

2

29-Apr-16 31-Mar-16 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

7849.80 7738.40 1.44%

25606.62 25341.86 1.04%

7973.88 7835.45 1.77%

17773.64 17685.09 0.50%

16666.05 16758.67 -0.55%

21067.05 20776.70 1.40%

4775.36 4869.85 -1.94%

NSEBSE

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

Apr-1

6

4000

5000

6000

7000

8000

9000

10000

22000

23000

24000

25000

26000

27000

28000

29000

30000

bps

Perc

enta

ge(%

)

Key Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

Call Rates

29-Apr-16 31-Mar-16 % Change

7.44% 7.47% -0.40%

7.44% 7.43% 0.13%

6.81% 7.13% -4.70%

6.88% 7.06% -2.62%

6.48% 6.76% -4.32%

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

Apr

-16

15

40

65

90

115

140

4.0

5.0

6.0

7.0

8.0

9.0

5 year AAA Corporate Bond Spread10 Yr G-Sec Yield

Outlook for Equities

Indian equity markets gained around 1.4 per cent in April 2016. FIIs remained net buyers however the net

buying was of much lesser quantum. They bought $556mn in April compared to buying of $3.6bn in

March. Cumulatively, they are net buyers of $1.8bn for the year 2016. Domestic institutions were net

sellers for the month. They sold $351mn in March. Cumulatively, they are net buyers of $731mn for the

year 2016.

Good monsoons along with lower interest rates can provide the much needed boost to the growth in

corporate earnings.

At a 13.8 multiple of FY18 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 7.47 per cent to 7.44 per cent in the month.

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.

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 29th April 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

Secure

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%

-

-

100%

100%

85%

-

70%

15%

85%

85%

10%

10%

10%

10%

10%

10%

100%

100%

-

-

15%

-

15%

15%

15%

Crisil Composite Bond Fund Index






-

-

Crisil Short Term Bond Fund Index

Crisil Short Term Bond Fund Index


-

Crisil AAA Long Term Bond Index

Crisil AA Short Term Bond Index



Crisil

Crisil Liquid Fund Index







-

-


-




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

Absolute

CAGR

Returns Period

Absolute

CAGR

Returns

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

1.18 1.02

3.23 2.92

2.13 2.23

5.00 5.30

10.58 9.35

8.80 7.86

9.59 8.55

8.44 7.79

10.54 8.38

1.35 1.14

3.41 3.13

0.82 1.24

2.99 3.50

10.86 9.15

9.41 8.14

10.13 8.81

8.37 7.49

12.93 9.65

1.48 1.14

3.79 3.13

1.49 1.24

4.31 3.50

11.41 9.15

10.52 8.14

10.72 8.81

- -

11.35 9.24

1.59 1.26

3.42 3.32

-0.46 0.24

1.01 1.68

11.20 8.89

10.08 8.37

10.66 9.04

8.18 7.15

14.23 10.82

1.62 1.26

3.63 3.32

0.12 0.24

2.12 1.68

11.50 8.89

10.74 8.37

11.86 9.04

- -

12.47 9.56

Growth Advantage

BMMoney

Market Fund BM

Money Market Fund 2

BMShort TermDebt Fund

BMShort Term

Debt Fund 2BM

1.68 1.34

3.55 3.44

-1.21 -0.45

-0.29 0.45

11.57 8.69

10.67 8.50

11.28 9.16

8.57 6.89

11.82 5.68

0.59 0.46

1.83 1.76

3.73 3.25

7.86 6.76

8.22 7.24

8.49 7.57

8.79 7.61

8.88 7.72

9.31 6.69

0.60 0.46

1.91 1.76

3.86 3.25

7.97 6.76

8.49 7.24

8.71 7.57

8.85 7.61

- -

8.94 7.72

0.71 0.66

2.15 2.20

3.86 3.50

8.14 7.45

8.60 8.20

8.45 7.85

9.05 8.11

9.13 8.13

8.83 7.45

0.79 0.66

2.40 2.20

4.18 3.50

9.09 7.45

9.68 8.20

9.46 7.85

10.37 8.11

- -

10.34 8.17

Absolute

CAGR

Returns

1 month

3 months

6 months

1 Year

2 Years

3 Years

4 Years

5 Years

Since Inception

Period BMBMGilt Fund

1.05

4.58

3.77

7.62

11.51

7.45

8.91

8.19

7.09

0.93 0.91

2.56 2.59

3.54 3.48

8.11 7.72

9.69 9.30

8.52 7.83

9.63 8.53

9.65 8.47

10.67 8.27

1.01 0.83

3.63 2.56

3.74 3.50

7.78 7.63

10.69 9.55

8.95 7.40

10.14 8.12

10.05 8.10

8.88 6.25

0.94 0.83

3.35 2.56

3.91 3.50

8.20 7.63

10.71 9.55

8.55 7.40

9.58 8.12

10.24 8.10

9.54 7.54

Fixed Interest Fund 2

BM

0.76 0.83

3.16 2.56

4.51 3.50

9.05 7.63

12.49 9.55

11.17 7.40

11.66 8.12

- -

11.66 8.30

Fixed Interest Fund

Bond FundIncome

Advantage Fund BM

Period

Fund NameBenchmark Composition

SFINWeightage Weightage WeightageIndex Index Index

Asset held as on 2 ` 1355.64 cr9th April 2016:

GOVERNMENT SECURITIES: 51.43%

9.2% Government Of India 2030 10.28%










Other Government Securities 8.57%

8.9% Steel Authority Of India Ltd. 2019 1.44%

8.57% Rec Ltd. 2024 1.17%

9.25% PGC. Of India Ltd. 2019 0.88%

9.15% ICICI Bank Ltd. 2022 0.77%

9.25% Reliance Jio Infocomm Ltd 2024 0.76%

9% Tata Capital Fin Services 2017 0.74%

8.39% HDFC Ltd. 2019 0.74%

9.95% Tata Motors Ltd. 2020 0.68%

8.58% Ltd. 2018 0.64%

8.99% Tata Capital Services Ltd 2017 0.63%

Other Corporate Debt 11.41%

Ltd

HDFC

Fin

HDFC Bank Ltd. 1.76%

Infosys Ltd. 1.61%

Reliance Industries Ltd. 1.01%

ITC Ltd. 1.01%

ICICI Bank Ltd. 0.98%

Larsen & Toubro Ltd. 0.89%

HDFC Ltd. 0.67%

Tata Motors Ltd. 0.55%

Sun Pharmaceutical Inds. Ltd. 0.52%

Indusind Bank Ltd. 0.52%

Other Equity 9.90%

RATING PROFILE

Exposure to equities has slightly decreased to 19.42% from 19.58 G-Secs has increased to 51.43% from 50.52% and MMI has slightly decreased to 9.29% from 9.33 on a MOM basis. Over 90% 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: 6.05 years

EQUITY: 19.42%

NAV as on 29th April 2016: 44.36`

CORPORATE DEBT: 19.86%

Maturity Profile

ASSET ALLOCATION

MMI, : 9.29%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 IndexFund

SECTORAL ALLOCATION

Portfolio as on Friday, April 29, 2016

Maturity Profile

Date of Inception: 19-Jun-01

AAA

18.16%

72.06%

Sovereign

3.62%AAAA+

5.44%

51.43%G-Secs

MMI, Deposits, CBLO & Others

9.29%

NCD19.86%

Equities19.42%

Secure BM

5

0.52%A+

0.12%A1+

0.08%AA-

0.52%

1.08%

1.19%

1.26%

2.32%

2.63%

3.05%

4.34%

5.14%

6.54%

6.87%

8.41%

8.47%

12.04%

12.84%

23.29%

OTHERS

RETAILING

CONSTRUCTION

DIVERSIFIED

POWER

AGRI RELATED

CEMENT

TELECOMMUNICATION

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

FMCG

CAPITAL GOODS

OIL AND GAS

SOFTWARE / IT

BANKING

7 years & above2 to 7 years

Less than 2years

65.18%

18.12%

16.69%

Apr-

09

Oct

-09

Apr-

10

Oct

-10

Apr-

11

Oct

-11

Apr-

12

Oct

-12

Apr-

13

Oct

-13

Apr-

14

Oct

-14

Apr-

15

Oct

-15

Apr-

16

Asset held as on 2 343.64 cr9th April 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: 6.21 yearsNAV as on 29th April 2016: ` 59.57

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: 8.62%

NCD14.38%

AAA23.94%

Sovereign74.93%

AA+1.03%

34.02%

Equities

ASSET ALLOCATION

Maturity Profile

Stable BM

42.98%G-Secs


8.62%













8.65% REC Ltd. 2019 2.76%

10.1% PGC Of India Ltd. 2017 1.49%

8.9% LIC Housing Finance Ltd. 2020 1.48%

9.25% Housing Finance Ltd. 2023 1.39%


9.4% NABARD 2016 0.88%

9.61% Power Finance Corpn. Ltd. 2021 0.77%

9.33% NABARD 2017 0.74%

8.95% Bajaj Finance Ltd. 2020 0.59%

10.15% Kotak Mahindra Prime Ltd. 2017 0.59%


LIC


Infosys Ltd. 2.84%


ITC Ltd. 1.76%



HDFC Ltd. 1.18%


Sun Pharmaceutical Inds. Ltd . 0.89%


Other Equity 17.42%

EQUITY: 34.02%CORPORATE DEBT: 14.38%

AA0.11%

0.57%

1.08%

1.13%

1.31%

2.40%

2.62%

3.02%

4.37%

5.22%

6.39%

6.91%

8.24%

8.30%

12.24%

12.94%

23.27%

OTHERS

RETAILING

CONSTRUCTION

DIVERSIFIED

POWER

AGRI RELATED

CEMENT

TELECOMMUNICATION

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

CAPITAL GOODS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

60.21%

22.21%

17.58%

Apr-

09

Oct

-09

Apr-

10

Oct

-10

Apr-

11

Oct

-11

Apr-

12

Oct

-12

Apr-

13

Oct

-13

Apr-

14

Oct

-14

Apr-

15

Oct

-15

Apr-

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


NCD9.90%

33.90%

Equities

ASSET ALLOCATION

Maturity Profile

Stable 2 BM

51.80%G-Secs






10.7% IRFC. Ltd. 2023 9.90% HDFC Bank Ltd. 3.07%

Infosys Ltd. 2.84%


ITC Ltd. 1.72%



HDFC Ltd. 1.00%




Other Equity 17.34%

EQUITY: 33.90%CORPORATE DEBT: 9.90%


4.39%

Sovereign83.95%

AAA16.05%

1.05%

1.18%

1.28%

2.18%

2.77%

3.27%

4.61%

4.76%

6.47%

7.25%

8.22%

8.84%

12.49%

13.52%

22.11%

RETAILING

OTHERS

CONSTRUCTION

POWER

AGRI RELATED

CEMENT

TELECOMMUNICATION

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

FMCG

CAPITAL GOODS

OIL AND GAS

SOFTWARE / IT

BANKING

7 years & above

Less than 2 years

97.21%

2.79%

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6






9.53% State Government Of Gujrat 2024 2.41%








9.34% REC Ltd. 2024 2.20%



NABARD 2017 0.85%

9.02% REC Ltd. 2022 0.83%



9.57% Housing Finance Ltd. 2017 0.67%

10.3% Tata Motors Ltd. 2018 0.46%

9.9% Cholamandalam Investment & Finance Co. Ltd. 2016 0.44%


LIC


Infosys Ltd. 4.03%


ITC Ltd. 2.52%



HDFC Ltd. 1.67%




Other Equity 24.88%

RATING PROFILE



EQUITY: 48.57%

NAV as on 29th April 2016: ` 70.42


Maturity Profile

ASSET ALLOCATION


SECTORAL ALLOCATION

Objective:

Strategy:

To achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security.

To ensure capital appreciation by simultaneously investing into fixed income securities and maintaining diversified equity portfolio. Active fund management is carried out to enhance policy holder’s wealth in long run.



Group Growth Fund

ULGF00112/06/01BSLGGROWTH109

Portfolio as on Friday, April 29, 2016Date of Inception: 31-Aug-01

Fund Manager: 17 years


G-Secs

33.18%

48.57%

Equities

NCD

5.75%

MMI, Deposits, CBLO & Others12.50%

AAA

24.52%

72.64%

Sovereign

AA

0.97%

AA+

1.87%

Gr. Growth BM

Fund Snapshot

8

0.60%

1.06%

1.07%

1.10%

1.97%

2.45%

3.21%

4.54%

5.25%

6.65%

6.87%

8.19%

8.44%

12.22%

13.10%

23.27%

OTHERS

RETAILING

DIVERSIFIED

CONSTRUCTION

POWER

AGRI RELATED

CEMENT

TELECOMMUNICATION

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

CAPITAL GOODS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

61.12%

24.54%

14.34%

Ap

r-0

9

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6









9.25% PGC Of India Ltd. 2017 6.24%

8.4% NPC Of India Ltd. 2027 3.59%

9.6% L&T Finance Ltd. 2016 1.75%

9.74% Tata Sons Ltd. 2024 1.12%


Infosys Ltd. 4.05%


ITC Ltd. 2.47%



HDFC Ltd. 1.39%




Other Equity 25.03%

RATING PROFILE



EQUITY: 48.46%



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

31.14%

48.46%

Equities

NCD

7.71%

MMI, Deposits, CBLO & Others12.70%

AAA

24.99%

71.03%

Sovereign

AA+

3.98%

Gr. Growth 2 BM

1.08%

1.28%

1.46%

1.96%

2.72%

3.25%

4.23%

4.68%

6.48%

6.91%

8.42%

8.57%

12.41%

13.15%

23.41%

RETAILING

CONSTRUCTION

OTHERS

POWER

AGRI RELATED

CEMENT

TELECOMMUNICATION

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

CAPITAL GOODS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

71.81%

0.37%

27.82%

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6














8.57% REC Ltd. 2024 2.49%

9.05% Petronet LNG Ltd. 2019 2.48%

8.95% HDFC Bank Ltd. 2022 0.74%

9.6% L&T Finance Ltd. 2016 0.61%


11.95% HDFC Ltd. 2018 0.26%


Infosys Ltd. 4.73%



ITC Ltd. 2.90%


HDFC Ltd. 2.00%




Other Equity 29.84%

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: 57.91%



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



57.91%

Equities

G-Secs

27.45%


7.08

NCD7.55

Sovereign

79.51%

AAA

11.56%AA+

8.93%


0.58%

1.06%

1.07%

1.25%

2.12%

2.68%

3.17%

4.50%

5.23%

6.56%

6.89%

8.21%

8.22%

12.31%

12.87%

23.29%

OTHERS

DIVERSIFIED

RETAILING

CONSTRUCTION

POWER

AGRI RELATED

CEMENT

TELECOMMUNICATION

FINANCIAL SERVICES

PHARMACEUTICALS

AUTOMOBILE

CAPITAL GOODS

FMCG

OIL AND GAS

SOFTWARE / IT

BANKING


Less than 2years

64.14%

17.65% 18.21%

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6


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

9.43%


MM BM


90.57%

RATING PROFILE

AAA

10.84%

A1+

89.16%




Ap

r-0

9

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6


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: Liquid Fund IndexCrisil


12

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATION



MM BM


74.25%

G-Secs

25.75%

RATING PROFILE


Government Of India 2016 25.75%

Sovereign

45.10%

A1+

54.90%

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Exposure to corporate debt has increased to 55.54% from 54.25% and MMI has decreased to 44.46% from 45.75% on a MOM basis. Over 80% of the fund is invested in highest rated instruments.


10.5% AU Financiers (India) Limited 2019 7.69%

9.15% Larsen & Toubro Ltd. 2019 7.04%

9.7% NABARD 2016 6.09%

9.1% HDFC Bank Ltd. 2022 5.80%

10.05% Can Fin Homes Ltd. 2017 4.98%


9.04% REC Ltd. 2019 3.92%

8.5% IRFC Corpn. Ltd. 2020 2.73%

8.99% Tata Capital Fin Services Ltd 2017 2.67%

8.64% PGC. Of India Ltd. 2025 1.96%




Benchmark: Short Term Bond Fund IndexCrisil

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 2 26.32 cr9th April 2016: ` Modified Duration: 1.45 years


13

Maturity Profile

ASSET ALLOCATION

Date of Inception: 10-Dec-08

Fund Manager: Parin Vora | Total Experience: 17 years


44.46%

NCD

55.54%

RATING PROFILE

AAA

69.71%

BMShort Term Debt

A1+

8.51%A+

12.40%

AA+

7.42%


Less than 2years

2.15%

38.14%

59.71%

Sovereign

1.96%

Ap

r-0

9

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Exposure to corporate debt has decreased to 77.64% from 78.13% and MMI has increased to 22.36% from 21.87% on a MOM basis. Over 90% of the fund is invested in highest rated instruments.


8.49% NHPC Ltd. 2016 7.44%

9.7% NABARD 2016 7.43%

9.64% PGC. Of India Ltd. 2018 6.40%

9.04% REC Ltd. 2019 6.37%

9.15% Larsen & Toubro Ltd. 2019 6.36%

9.3% HDFC Ltd. 2017 5.83%


9.85% State Bank Of India 2016 5.37%

8.4% NPC Of India Ltd. 2027 3.39%

8.84% PGC. Of India Ltd. 2016 3.11%




Benchmark: Short Term Bond Fund IndexCrisil

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 2 24.27 cr9th April 2016: ` Modified Duration: 1.30 years


14

Maturity Profile

ASSET ALLOCATION



RATING PROFILE

AAA

85.45%

BMShort Term Debt 2

AA

2.57%

AA+

5.13%

A1+

4.28%


22.36%

NCD

77.64%

A+2.57%


Less than 2years

5.52%

34.46%

60.03%

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6


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


9.34% REC Ltd. 2024 5.50%

9.9% HDFC Ltd. 2021 4.68%


9.15% Export Import Bank Of India 2022 3.10%

9.25% PGC of India Ltd. 2019 3.07%

8.65% India Infradebt Ltd 2026 2.97%


9.02% REC Ltd. 2022 2.15%

9.25% PGC. of India Ltd. 2020 1.93%

9.25% of India Ltd. 2019 1.91%


PGC.


Benchmark: Crisil Composite Bond index & Crisil Liquid Fund IndexFund

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

39.28% 5.78%


54.94%G-Secs

Gr. Inc Adv BM

58.31%

Sovereign

AAA

38.54% AA+

3.14%


Less than 2years

66.70%

28.70%

4.60%

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6


Exposure to G-Secs has decreased to 96.84% from 97.48% and MMI has increased to 3.16% from 2.52% 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



3.16%

96.84%G-Secs













Less than 2years

95.28%

4.22%

0.51%


Exposure to corporate debt has decreased to 88.97% from 90.46% and MMI has increased to 11.03% from 9.54% on a MOM basis. Over 81% of the fund remains invested in highest rated instruments.

Modified Duration: 3.84 yearsNAV as on ` 26.8129th April 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 5.32%

9.05% Petronet LNG Ltd. 2019 5.09%

9.5% HDFC Ltd. 2024 4.64%

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 2.92%


9.4% Export Import Bank of India 2023 2.32%



Benchmark: AAA Long Term Bond Index, AA Short Term Bond Index & Liquid Fund IndexCrisil Crisil Crisil

Maturity Profile


17

ASSET ALLOCATION

RATING PROFILE

Date of Inception: 28-Jan-07


3.43%AA14.91%

AA+

AAA

81.16%

0.50%A+

NCD

88.97%


11.03%

Gr. Bond BM


Less than 2years

32.65%

50.84%

16.51%

Ap

r-0

9

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Asset held as on 2 914.91 cr9th April 2016: ` Modified Duration: 6.44 yearsNAV as on ` 31.4129th April 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











8.96% State Government Of

Maharashtra 2024 1.15%


8.75% HDFC Ltd. 2021 5.42%


9.55% Hindalco Industries Ltd. 2022 2.51%



10.5% AU Financiers (India) Ltd 2019 1.27%

9.55% Hindalco Industries Ltd. 2022 1.26%


9.4% Export Import Bank Of India 2023 1.17%

8.4% PGC. of India Ltd. 2024 1.11%



Maturity Profile

ASSET ALLOCATION

Benchmark: Crisil Composite Bond Fund index & Crisil Liquid Fund Index



18

RATING PROFILE



FIF BM

53.97%G-Secs


15.26%NCD

30.78%

Exposure to corporate debt has increased to 30.78% from 26.28%, G-Secs has decreased to 53.97% from 65.73% and MMI has increased to 15.26% from 7.99% on a MOM basis. Over 93% of the fund remains invested in highest rated instruments.

A+1.50%

0.47%

4.45%AA-

AA

AAA

29.08%

63.68%

Sovereign

0.82%AA+


Less than 2years

69.43%

19.69%

10.88%

Ap

r-0

9

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Asset held as on 2 4.10 cr9th April 2016: ` Modified Duration: 6.17 yearsNAV as on ` 16.2929th April 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 7.34%


Maturity Profile

ASSET ALLOCATION

Benchmark: Crisil Composite Bond index & Crisil Liquid Fund IndexFund



19

RATING PROFILE



FIF 2 BM

87.87%G-Secs


4.79%

NCD7.34%

Exposure to corporate debt has slightly decreased to 7.34% from 7.38%, G-Secs has decreased to 87.87% from 88.40% and MMI has slightly increased to 4.79% from 4.23% on a MOM basis. Over 92% of the fund remains invested in highest rated instruments.

AA+

7.71%

92.29%

Sovereign

7 years & above

Less than 2 years

89.06%

10.94%

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

birla insurance group april 16 to wait for the next session to come up for discussions in the house....

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