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ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED

SCHEME E TIER I SCHEME C TIER I SCHEME G TIER I SCHEME E TIER II SCHEME C TIER II SCHEME G TIER II

ANNUAL REPORT 2012-2013

CONTENTS

1. BRIEF BACKGROUND

a) THE TRUST ............................................................................................... 3

b) SPONSORS ............................................................................................... 3

c) PENSION FUND MANAGEMENT COMPANY ............................................ 4

2. BASIS AND POLICY OF INVESTMENTS ...................................................... 4

3. ECONOMIC SCENARIO ................................................................................ 5

4. SCHEME PERFORMANCE AND OPERATIONS ............................................. 7

5. INVESTMENT OBJECTIVE OF THE SCHEME .............................................. 11

6. LIABILITIES AND RESPONSIBILITIES OF THE COMPANY ......................... 11

7. FINANCIAL STATEMENTS OF THE SCHEMES……………………………………12

a) Scheme E Tier I - Equity market instruments

b) Scheme C Tier I - Credit risk bearing fixed income instruments

c) Scheme G Tier I - Government securities

d) Scheme E Tier II - Equity market instruments

e) Scheme C Tier II - Credit risk bearing fixed income instruments

f) Scheme G Tier II - Government securities

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ICICI Prudential Pension Funds Management Company Limited (‘the Company’) presents its annual report along with the audited financial statements of the Schemes for the year ended March 31, 2013.

During the year ending March 31, 2013, the Company managed the following 6 schemes under the National Pension System (NPS):

• Tier I Scheme E - Equity market instruments • Tier I Scheme C - Credit risk bearing fixed income instruments • Tier I Scheme G - Government securities • Tier II Scheme E - Equity market instruments • Tier II Scheme C - Credit risk bearing fixed income instruments • Tier II Scheme G - Government securities

The Company has recorded strong growth in Assets Under Management (AUM) of the Schemes for the financial year ending March 31, 2013. The AUM at March 31, 2013 was ` 722.3 million up from ` 291.9 million at March 31, 2012, an increase of 147.44%.

The Company continued to be amongst the top two Pension Fund Managers, by AUM, for NPS - private sector at March 31, 2013.

1. BRIEF BACKGROUND OF THE TRUST, SPONSORS AND PENSION FUND

MANAGEMENT COMPANY

a) THE TRUST

The National Pension System Trust (‘NPS Trust’) was established by Pension Fund Regulatory and Development Authority (‘PFRDA’) on February 27, 2008. The NPS Trust has been set up and constituted for taking care of the assets and funds under the National Pension System (NPS) in the interest of the beneficiaries (subscribers). PFRDA was established by the Government of India on August 23, 2003 to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds. b) SPONSORS

The Company is sponsored by ICICI Prudential Life Insurance Company Limited (`the sponsor’) and is a wholly owned subsidiary of ICICI Prudential Life Insurance Company Limited. The sponsor has infused share capital amounting to ` 270 million into the Company as on March 31, 2013.

ICICI Prudential Life Insurance Company Limited, a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, was incorporated on July 20, 2000 as a Company under the Companies Act, 1956 (`the Act’). It is licensed by the Insurance Regulatory and Development Authority (`IRDA’) for carrying out life insurance business in India.

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The Sponsor reaches its customers through 559 offices in 487 locations at March 31, 2013. At March 31, 2013 the Sponsor has over 12,850 employees and over 147,500 advisors and is thus well equipped to cater to the needs of customers. Assets under management of the Sponsor grew from ` 707.71 billion at March 31, 2012 to ` 741.64 billion at March 31, 2013. The Sponsor reported a robust profit after tax of ` 14.96 billion in FY2013 as against profit after tax of ` 13.84 billion in FY2012.

c) PENSION FUND MANAGEMENT COMPANY

The Company was incorporated on April 22, 2009 as a company under the Companies Act, 1956 (‘the Act’) and received certificate to commence business on April 28, 2009. The Company is appointed as a Pension Fund Manager (‘PFM’) by the NPS Trust for the management of Pension Schemes (private sector) under the NPS Trust.

During the year the Company has renewed its license under the Pension Fund Regulatory and Development Authority (‘PFRDA’) (Registration of Pension Funds for Private Sector) Guidelines – 2012. Accordingly, PFRDA has granted the Certificate of Registration No. PFRDA/001/2013/PFM dated January 21, 2013 to the Company. The Company has also subsequently entered into a new Investment Management Agreement (‘IMA’) with NPS Trust during the year.

2. BASIS AND POLICY OF INVESTMENTS

Investment Structure

The Company has a multi-tiered investment structure to achieve adequate segregation between control and execution.

The Board of Directors of the Company approve the Investment Policy and Risk Management Policy, review investments and oversees the risk management.

The Investment Committee (Committee) of the Board is responsible for implementation of Investment Policy, building investment strategy, monitoring investment decisions and returns and providing support on regulatory and tax issues.

The Investment team, headed by Chief Executive Officer and Chief Investment Officer, is responsible for market tracking, investment decisions and deal negotiation & conclusion. The Investment Team is also responsible for research, portfolio management and trading.

An independent Investment Operations group looks after the settlement, investment compliance, valuation, accounting, net asset value (‘NAV’) calculation and statutory and management reporting. The activities in the Investment Operations group are clearly segregated as Accounting and NAV computation, Treasury and Mid-office.

An external Custodian, appointed by PFRDA, is responsible for custody of the assets, tracking corporate actions and also values securities.

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Investment Strategy

The overall investment strategy is focused on ensuring adequate returns to subscribers consistent with protection, safety and liquidity of funds while complying with the applicable investment guidelines as prescribed under IMA. The investment strategy is guided by principles of prudent portfolio and risk management techniques.

Equity investments are made in securities that constitute NSE Nifty 50 index, replicating their weight in the index.

The objective of fixed income fund management is to meet return expectations of subscribers through investment in high credit fixed income securities, managing interest rate risk, credit risk and liquidity risk.

Scheme E is an index fund. The investment philosophy of the scheme can be summarized as close replication of the underlying index so as to achieve returns as close to the index as possible with low tracking error.

The funds under the Scheme C (Credit risk bearing fixed income instruments) are invested in fixed deposits, corporate bonds and liquid instruments following the scheme objective and investment universe as defined by PFRDA. Investments in corporate bonds are made in high quality long term debt following internal due diligence and credit rating from independent credit rating agencies.

The funds under the Scheme G (Government securities) are invested in long term central and state government securities as per the scheme objective. The scheme is managed actively based on interest rate view backed by extensive research and analysis.

3. ECONOMIC SCENARIO

Equity review - FY2013

Indian equity market performed modestly in FY2013 posting a gain of 7.3%, notwithstanding negative surprises on GDP growth and corporate earnings growth. The market was weak in first half but gathered momentum in second half on the back of government showing intent in implementing much needed corrective actions as well as reforms viz., diesel price hikes, SEB restructuring, increase in FDI limit in retail, aviation etc. The market’s upward move thus should be seen as a vote of confidence on government’s intent to do the needed things to reverse the growth slowdown.

The rise in equity valuation was largely supported by persistent foreign capital inflows into Indian equities amounting to almost US$ 25 billion for the full-year 2013. Foreign capital inflows were strong enough to neutralize both significant selling by local investors as well as primary issuance owing to government disinvestment. However it has to be noted that monetary policy and expectations from central banks is playing very important role in all financial markets, including Indian equities. The life line provided by European Central Bank (ECB) to troubled European countries as they resolve their fiscal

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problems has calmed the global markets; likewise, on the domestic front falling inflation trend also raised hopes of monetary easing by RBI and thus supporting equity markets.

Debt review - FY2013

In FY2013, RBI cut Repo rate by 100 basis points in order to give boost to the sluggish domestic economy. The 10 year benchmark government security fell by almost 60 basis points from 8.54% on March 31, 2012 to 7.96% as on March 31, 2013. System liquidity remained tight over large part of the year and RBI addressed it using a combination of Cash Reserve ratio (CRR) cuts and Open Market Operations (OMOs) in government securities. RBI remained concerned about the elevated inflation and therefore maintained a cautious approach in cutting the rates. Current Account Deficit (CAD) was another cause of concern for the RBI. RBI iterated that managing inflation and CAD will remain the top priority for monetary policy and will decide the future course of actions.

During the course of the year, the newly appointed finance minister, struck the right note with the investor community, with a focus on the key areas such as fiscal consolidation, reinvigorating reforms and easing supply-side constraints by focusing on infrastructure. During the course of the year, government hiked the FII limits in government securities and corporate bond market to bolster foreign flows into the country. In FY2014, government targets a reduction in central government deficit to 4.8% as against estimated 5.2% of GDP in FY2013. It plans to achieve this through tax measures, higher divestment and spectrum receipts, and containment of subsidies. Gross borrowings for FY2014 were broadly in line market expectations. RBI announced the first half borrowing calendar details of the Government. Bond auction calendar was in line with market expectations with 60% of the gross borrowing front loaded in the first half of FY2014.

Outlook

Equity Outlook

For the year FY2014 as well as beyond, performance of equity market depends on two key factors. One, whether the economic data such as fall in inflation will be strong enough to support material monetary easing by the central bank to stimulate economic revival and two, whether government policy actions live up to expectations in terms of improving investment climate on the ground. If these things happen, the equity market will remain buoyant and will keep investor interest. We certainly expect interest rates to head down. However on the second factor, we should note that FY2014 is the last year of ruling government and end of this fiscal will coincide with timing of union elections. Thus it is possible that market may remain volatile but range bound throughout the year even as interest rates head downwards.

We expect external environment to remain conducive for Indian economy as well as Indian equities. While there could be volatility in global economic data as Eurozone struggles to come out of recession and resolve the debt crisis, the likelihood of any dramatic increase in risk aversion remains low considering the easy stance adopted by

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both US Fed as well as ECB. Another important development on external front is softening of commodity prices which should help in keeping inflation low in the medium-term. All these factors in our view will support equity markets in the first half of FY2014 as market awaits signs of domestic revival or lack thereof. Over longer-term we believe the currently underperforming Indian economy, which grew at just 5% in FY2013, will revert back to its potential growth rate of high single digit and thus support double digit growth in corporate earnings which will enable equities to outperform fixed income returns by a sizeable margin, as they have done in the past over long-term.

Debt Outlook

Market sentiment remains weak owing to slowdown in domestic growth and global economic developments. With respect to the Indian economic scenario, there has been some progress in FY2013 in taking some steps in improving the investment climate. The recent correction in gold and crude oil prices augurs well for the Indian market. Any sustained correction should have a positive impact on the twin deficits and provide more flexibility to the policymakers for cutting rates.

In FY2014, GDP growth is expected to be moderately better than the previous year. Managing inflation continues to remain a challenge; however going forward, inflation trajectory looks softer given the outlook on global commodity prices.

The outlook on fixed income market is largely dependent on the fiscal consolidation by the Government. Government’s ability to cap the subsidies will play a key role in credible and significant fiscal consolidation.

4. SCHEME PERFORMANCE AND OPERATIONS

Scheme E Tier I - Equity market instruments

The investment objective of Scheme E Tier I is to optimise returns while investing in the NSE Nifty 50 Index over a rolling annual basis.

The performance of the scheme is measured by reference to the total performance (dividends reinvested) of the NSE Nifty 50 Index.

The performance of Scheme E Tier I at March 28, 2013 is presented below:

Period Returns (%)^ Benchmark Returns (%)# Last 1 year 9.10% 8.77% Last 3 years 4.01% 3.91% Since inception@ 8.66% 8.57%

^ Past performance may or may not be sustained in the future, returns are compounded annualised (CAGR)

# Benchmark index: NSE Nifty 50 Index (dividends reinvested) @ Date of Inception: May 18, 2009

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The Scheme returns have outperformed the benchmark returns over 1 year, 3 years and since inception. The returns continue to be healthy since inception of the scheme.

The net assets of the Scheme at March 31, 2013 stood at ` 236.2 million as against ` 96.9 million at March 31, 2012, a growth of over 140%.

At March 31, 2013, 99.11% of the net assets were invested in equity shares and 0.89% in cash/cash equivalent & net current assets.

Scheme C Tier I - Credit risk bearing fixed income instruments

The investment objective is to optimise returns.

The performance of Scheme C Tier I at March 28, 2013 is presented below:



# Benchmark index: Crisil AAA Combex @ Date of Inception: May 18, 2009


The net assets of the Scheme at March 31, 2013, increased by over 167%, stood at ` 182.5 million as against ` 68.2 million at March 31, 2012.

At March 31, 2013, 95.16% of the net assets were invested in bonds and non-convertible debentures, 0.11% in fixed deposits, 0.88% in money market instruments and 3.85% in cash/cash equivalent & net current assets.

Scheme G Tier I - Government securities


The performance of Scheme G Tier I at March 28, 2013 is presented below:



# Benchmark index: ISec Gilt Composite Index @ Date of Inception: May 18, 2009

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The net assets of the Scheme at March 31, 2013, increased by over 290%, stood at ` 192.6 million as against ` 66.0 million at March 31, 2012.

At March 31, 2013, 91.85% of the net assets were invested in central government securities, 5.49% in state development loans and 2.66% in cash/cash equivalent & net current assets.

Scheme E Tier II - Equity market instruments

The investment objective of Scheme E Tier II is to optimise returns while investing in the NSE Nifty 50 Index over a rolling annual basis.

The performance of the scheme will be measured by reference to the total performance (dividends reinvested) of the NSE Nifty 50 Index.

The performance of Scheme E Tier II at March 28, 2013 is presented below:



# Benchmark index: NSE Nifty 50 Index (dividends reinvested) @ Date of Inception: January 11, 2010

The Scheme outperformed the benchmark in FY2013. During the period February 2013 and March 2013 the Scheme had switched its investments from index fund (replicating NSE Nifty 50 index) to underlying stocks that constitute NSE Nifty 50 Index. The Scheme now replicates NSE Nifty 50 index, which was done to comply with PFRDA’s circular no. PFRDA/6/7/1 dated January 14, 2013.


At March 31, 2013, 98.61% of the net assets were invested in equity shares and 1.39% in cash/cash equivalent & net current assets.

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Scheme C Tier II - Credit risk bearing fixed income instruments


The performance of Scheme C Tier II at March 28, 2013 is presented below:



# Benchmark index: Crisil AAA Combex @ Date of Inception: January 12, 2010



At March 31, 2013, 94.81% of the net assets were invested in bonds / non-convertible debentures, 1.02% in money market instruments and 4.17% in cash/cash equivalent & net current assets.

Scheme G Tier II - Government securities


The performance of Scheme G Tier II at March 28, 2013 is presented below:



# Benchmark index: ISec Gilt Composite Index @ Date of Inception: February 8, 2010


The net assets of the Scheme at March 31, 2013 stood at ` 30.8 million as against ` 20.4 million at March 31, 2012, a growth of over 50%

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At March 31, 2013, 96.61% of the net assets were invested in central government securities, 1.00% in state development loans and 2.39% in cash/cash equivalent & net current assets.

Disclaimer:

Since the Schemes permit investments in shares, bonds, debentures and other scripts or securities whose value can fluctuate, the price and redemption value of the units of the Schemes and income from them, can go up as well as come down with the fluctuations in the market value of these underlying investments.

5. INVESTMENT OBJECTIVE OF THE SCHEME

The investment objective of the Scheme(s) managed by ICICI Prudential Pension Funds Management Company Limited during the year under review is as under:

Sr. No. Name of the Scheme Investment Objective 1 Scheme E Tier I To optimise returns while investing in the NSE

Nifty 50 Index over a rolling annual basis. 2 Scheme C Tier I To optimise returns 3 Scheme G Tier I To optimise returns 4 Scheme E Tier II To optimise returns while investing in the NSE

Nifty 50 Index over a rolling annual basis. 5 Scheme C Tier II To optimise returns 6 Scheme G Tier II To optimise returns

6. LIABILITIES AND RESPONSIBILITIES OF THE COMPANY

The Company has been appointed by PFRDA as a fund manager for management of investments of the Schemes and, in that capacity, makes investment decisions and manages the Scheme in accordance with the Investment Guidelines, Scheme Objectives, IMA and provisions of the PFRDA guidelines /directions. The transactions entered into by the Company are in accordance with the PFRDA Guidelines, IMA and the code of ethics prescribed by the Trustees.

The Company has exercised necessary due diligence and vigilance in carrying out its duties of Investment management and in protecting the rights and interests of the subscribers. Investment decisions have been taken with emphasis on safety and optimum returns. The Company has not dealt in any speculative transactions in dealing for investments. The Company will be responsible for the acts of omissions or commissions of its employees or the persons whose services have been procured by the Company.

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7. FINANCIAL STATEMENTS OF THE SCHEMES

a) Scheme E Tier I - Equity market instruments

b) Scheme C Tier I - Credit risk bearing fixed income instruments

c) Scheme G Tier I - Government securities

d) Scheme E Tier II - Equity market instruments

e) Scheme C Tier II - Credit risk bearing fixed income instruments

f) Scheme G Tier II - Government securities

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ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier I Financial Statements together with Auditors’ Report For the year ended March 31, 2013 Contents Auditors’ Report Balance Sheet Revenue Account Accounting Policies and Notes to Accounts

INDEPENDENT AUDITORS' REPORT To, The Trustees, National Pension System Trust Report on the Financial Statements 1 We have audited the accompanying financial statements of NPS Trust A/c ICICI

Prudential Pension Funds Management Company Limited, Scheme E - Tier I (Scheme) under the National Pension System Trust (NPS Trust) managed by ICICI Prudential Pension Funds Management Company Limited (PFM) which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements 2 Management of the PFM, in accordance with the Pension Fund Regulatory and

Development Authority (PFRDA) Guidelines and the Investment Management Agreement (IMA) with the NPS Trust, is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Scheme in accordance with the accounting principles generally accepted in India, PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956, to the extent made applicable by PFRDA to Scheme. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility 3 Our responsibility is to express an opinion on these financial statements based on our

audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4 An audit involves performing procedures to obtain audit evidence about the

amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the PFM's preparation and fair presentation of the financial statements in order to

design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

5 We believe that the audit evidence we have obtained is sufficient and appropriate to

provide a basis for our audit opinion. Opinion 6 In our opinion and to the best of our information and according to the

explanations given to us, the financial statements give the information required by PFRDA (Preparation of Financial Statements and Auditors Report of Schemes under National Pension System) Guidelines 2012 and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a)

in the case of the Balance Sheet, of the state of affairs of the Scheme as at March 31, 2013;

(b)

in the case of the Revenue Account, of the net surplus of the Scheme for the year ended on that date;

Report on Other Legal And Regulatory Requirements 7 As required by the PFRDA (Preparation of Financial Statements and Auditors Report

of Schemes under National Pension System) Guidelines 2012, as amended, we report that:

a) We have obtained all information and explanations which to the best of our knowledge

and belief were necessary for the purpose of the audit. b) The Balance Sheet and Revenue account of the Scheme are in agreement with the

books of account of the Scheme. c) In our opinion proper books of account of the Scheme, as required by the PFRDA has

been maintained by the PFM as far as appears from our examination of those books. d) All transaction related expenses in excess of the limits (if any) contractually agreed to

/ approved by the PFRDA are borne by the PFM and are not charged to the NAV of the Scheme.

e) In our opinion the Balance Sheet and Revenue Account of the Scheme dealt with by this report comply with the “PFRDA (Preparation of Financial Statements and Auditor’s Report of Scheme under National Pension System) Guidelines-2012” and Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA Guidelines-2012.

8 We further certify that the

a) Investments have been valued in accordance with the guidelines issued by the PFRDA.

b) Transaction and claims/fee raised by different entities are in accordance with the prescribed fee.

For Borkar & Muzumdar

Chartered Accountants Firm Registration No. 101569W B M Agarwal Partner M No.: 33254 Place: Mumbai Date: 18th April, 2013

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER IBALANCE SHEET AT MARCH 31, 2013

(In `)

March 31, 2013 March 31, 2012 Sources of funds

Unit capital 1 171,428,318 76,694,881 Reserves and surplus 2 64,817,806 20,230,223 Current liabilities and provisions 3 100,369 16,457 Borrowings - - Total 236,346,493 96,941,561 Application of funds

Investments (long term and short term) 4 234,155,277 96,718,199 Deposits 5 - - Other current assets 6 2,191,216 223,362 Total 236,346,493 96,941,561 (a) Net asset as per Balance Sheet (Schedule 4+5+6 -3) 236,246,124 96,925,104

(b) Number of units outstanding 17,142,832 7,669,488 (c) NAV per unit (a)/(b) (`) 13.7810 12.6378

Significant accounting policies and notes to accounts 7

The notes referred to above form an integral part of the financial statements.As per our report of even date attached.

For Borkar & Muzumdar For and on behalf of Board of Directors of Chartered Accountants ICICI Prudential Pension Funds ManagementFirm Registration No. 101569W Company Limited

B M Agarwal Sandeep Bakhshi Puneet NandaPartner Chairman DirectorMembership No. 33254

Meghana Baji Girish ManikDate : April 18, 2013 Chief Executive Officer Company SecretaryPlace : Mumbai

For and on Behalf of NPS Trust

Chairman, NPS Trust Board Chief Executive Officer

Date : July 04, 2013Place : New Delhi

ScheduleParticularsScheme E Tier I

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER IREVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013

(In `)

March 31, 2013 March 31, 2012 Income from investments

Interest income - 30 Dividend income 2,200,419 740,210 Net profit / (loss) on sale/redemption of investments (other than inter-scheme transfer/sale) (500,679) (86,611) Net profit / (loss) on inter-scheme transfer/sale of investments - - Unrealised gain on appreciation in investements 17,230,616 4,081,472 Total income (A) 18,930,356 4,735,101 Unrealised losses in value of investments 7,465,163 6,058,278 Provision for outstanding accrued income considered doubtful - - Provision for doubtful deposits and current assets - - Management fees (including service tax) [Refer Note 2.4] 38,331 534 Trusteeship/regulatory fees - - Publicity expenses - - Audit fees - - Custodian fees 12,967 4,904 Trustee bank fees 550 8,796 CRA fees 1,088,824 865,519 Less : Amount recovered on sale of units on account of CRA charges (1,088,824) (865,519) Total expenditure (B) 7,517,011 6,072,512 Net income/(expenditure) for the year (A-B) appropriated to Balance Sheet 11,413,345 (1,337,411) Balance at the beginning of the year 978,055 2,315,466 Balance at the end of the year carried to Balance Sheet 12,391,400 978,055









ParticularsScheme E Tier I

Schedule

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER ISchedules forming part of the financial statements

Schedule 1: Unit capital (In `)

March 31, 2013 March 31, 2012 Initial capital - -

Unit capitalOpening balance 76,694,881 25,851,507 Additions during the year 103,143,314 53,545,479 Deduction during the year (8,409,877) (2,702,105) Closing balance 171,428,318 76,694,881 Number of units of face value ` 10 17,142,832 7,669,488

#REF!

Schedule 2: Reserves and surplus (In `)

March 31, 2013 March 31, 2012 Unit premium reserveOpening balance 19,252,168 7,246,863 Additions during the year 36,218,468 12,592,554 Deduction during the year (3,044,230) (587,249) Closing balance 52,426,406 19,252,168

Surplus/(deficit) in Revenue accountOpening balance 978,055 2,315,466 Additions during the year 11,413,345 - Deduction during the year - (1,337,411) Closing balance 12,391,400 978,055

General reserve* - - Appropriation account* - - Total 64,817,806 20,230,223 * The balances have been nil throughout the year

Schedule 3: Current liabilities and provisions (In `)

March 31, 2013 March 31, 2012 Current liabilities Sundry creditors 48,900 6,305 Contracts for purchase of investments - - Interest received in advance - - Unclaimed distributed income - - Unit redemption payable 51,469 10,152 Provisions - - Total 100,369 16,457

Scheme E Tier I

Scheme E Tier I

Scheme E Tier IParticulars

Particulars

Particulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Schedules forming part of the financial statements

Schedule 4: Investments (In `)

March 31, 2013 March 31, 2012 Equity shares 234,155,277 96,718,199 Preference shares - - Debentures and bonds - - Central and state government securities (including treasury bills ) - - Commercial Paper - - Others - Mutual funds - - Total 234,155,277 96,718,199

Schedule 5: Deposits (In `)

March 31, 2013 March 31, 2012 Deposits with scheduled banks - - Others - - Total - -

Schedule 6: Other current assets (In `)

March 31, 2013 March 31, 2012 Balances with banks in current / saving account 211,753 197,762 Cash on hand - - Sundry debtors 135,960 9,628 Contracts for sale of investments 1,714,897 - Outstanding and accrued income - - Advance, deposits etc. - - Shares/debentures/ others application money pending allotment - - Others - Dividend receivable 128,606 15,972 Total 2,191,216 223,362

Particulars

Particulars

Particulars

Scheme E Tier I

Scheme E Tier I

Scheme E Tier I

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier I Schedule 7

Significant accounting policies and notes to accounts for the year ended March 31, 2013

1.1 Background

ICICI Prudential Pension Funds Management Company Limited (‘the Company’) is appointed as a Pension Fund Manager (‘PFM’) by the National Pension System Trust (‘NPS’) for the management of Pension Schemes under the National Pension System. Accordingly, the Company has entered into an Investment Management Agreement (‘IMA’) with NPS. The Pension Fund Regulatory and Development Authority (‘PFRDA’) guidelines require each PFM to manage subscribers’ funds made available to it by the Trustee bank along with the data made available by the Central Recordkeeping Agency (‘CRA’). CRA is required to furnish subscribers’ data at a consolidated level to the Company and the Company makes investments as per the requirements of IMA and the scheme wise flow of funds.

1.2 Basis of preparation

The financial statements have been prepared to comply with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for Scheme E Tier I being managed by the Company. The Company manages six separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C and G based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities

1.3 Investments

Purchase and sale of securities are accounted on trade date. Investments are reconciled with the custodian records on daily basis. The holding cost of investments is determined by the weighted average cost method and the cost does not include brokerage and other transaction charges. Valuation of Investments The scheme marks all investments to market and carries investments in the Balance Sheet at the market value as on Balance Sheet date / date of determination / date of valuation. Unrealised gain/(loss), if any, arising out of appreciation/depreciation in value of investments, is transferred to Revenue account.

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier I As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, 2011. The Investment valuation methodology adopted by SHCIL is as follows:

Listed equity shares are valued at market value, being the last quoted closing price on the National stock exchange (NSE). If they are not quoted on NSE, then the last quoted closing price on the Bombay stock exchange (BSE) is taken.

Mutual fund units are valued based on the net asset values of the preceding day of the valuation date.

Income earned on Investments

Dividend income is recognised on the `ex-dividend date’. Bonus shares to which the scheme becomes entitled are recognized only when the original shares on which the bonus entitlement accrues are traded on the stock exchange on an ex-bonus basis. Similarly, rights entitlements are recognized only when the original shares on which the right entitlement accrues are traded on the stock exchange on an ex-rights basis.

Profit or loss on sale of equity shares / mutual fund units is the difference between the sale consideration net of expenses and the weighted average book cost.

1.4 Units reconciliation

The subscribers’ units as per Investment management system are reconciled with Central Recordkeeping Agency (CRA) records on daily basis.

1.5 Investment management fees

Investment management fees are recognised on daily accrual basis on closing Asset under management (AUM) in accordance with IMA. The Investment management fee is inclusive of brokerage but excludes custodian charges and applicable taxes, if any.

1.6 Other expenses

Custody charges are recognised on daily accrual basis in accordance with IMA. Trustee bank charges are recognised when they are debited by the trustee bank on a quarterly basis.

Notes to accounts

2.1 Contingent liabilities

(In `)

Particulars At March 31,

2013 At March 31,

2012 Uncalled liability on partly paid shares Nil Nil Other commitments Nil Nil

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier I 2.2 Investments

All investments are performing investments. All investments of the scheme are in the name of the NPS Trust. All investments are traded investments.

2.3 Details of transactions with sponsor and its related parties

Related parties and nature of relationship

Nature of relationship Name of the related party

Pension fund manager ICICI Prudential Pension Funds Management Company Limited

Sponsor company ICICI Prudential Life Insurance Company Limited Associates and group companies - Holding company of

sponsor

ICICI Bank Limited

The following represents significant transactions between the Company and its related parties for the year ending March 31, 2013:

(In `)

Nature of transaction Year ended March 31, 2013

Year ended March 31, 2012

Investment management fees 38,331 534

Balances with ICICI Prudential Pension Funds Management Company Limited are as follows:

(In `)

Particulars At March 31, 2013

At March 31, 2012

Investment management fees payable 37,370 70

Aggregate investments made by the scheme in the associates and group companies are as follows: (In `)

Period Name of the

Company Asset type Cost Market value

At March 31, 2013 ICICI Bank Limited Equity 14,437,793 15,375,937



The Company has started charging investment management fee of 0.25% per annum (inclusive of brokerage but excluding custodian charges and applicable taxes), with effect from March 11, 2013, in terms of the Pension Fund Regulatory and Development

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier I Authority’s circular no. PFRDA/CIR/1/PFM/1 dated August 31, 2012. The investment management fees charged upto March10, 2013 was 0.0009% per annum. The investment management fee is charged on closing funds under management of the scheme on daily basis.

2.5 Aggregate value of purchase and sale with percentage to average assets

Aggregate value of purchase and sale with percentage to average daily net assets is as follows: (In `)

Particulars Year ended

March 31, 2013 Year ended

March 31, 2012 Aggregate value of purchase and sale 157,257,443 67,888,997 % to average net assets 101.2% 114.5%

Aggregate value of purchase and sale (excluding liquid mutual fund)* with percentage to average daily net assets is as follows:

(In `)




*liquid mutual fund investments are held for day to day cash management, hence excluded.

2.6 Investments falling under each major industry group

The total value of investments falling under each major industry group (which constitutes not less than 5% of the total investments in the major classification of the financials) are disclosed as under:

Investment classification

At March 31, 2013 At March 31, 2012

Market value (In `)

% of investment

class

Market value (In `)

% of investment

class

Equity 234,155,277 100.00% 96,718,199 100.00% Monetary intermediation of commercial banks, saving banks

48,537,946 20.73% 18,510,768 19.14%

Writing, modifying, testing of computer program to meet the needs

32,567,135 13.91% 13,746,118 14.21%

Manufacture of cigarettes, cigarette tobacco

21,921,129 9.36% 7,246,959 7.49%

Activities of specialized institutions granting credit

16,508,475 7.05% 5,886,662 6.09%

Manufacture of refined petroleum products

16,425,671 7.01% 7,505,249 7.76%

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier I



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class Manufacture of allopathic pharmaceutical preparations

12,186,625 5.20% 3,931,197 4.06%

Others 86,008,296 36.73% 39,891,246 41.24%

Net current assets 2,090,846 100.00% 206,905 100.00%

Net asset value 236,246,124 100.00% 96,925,104 100.00%

2.7 Statement of portfolio holding as on March 31, 2013 (In `)

Security name Units Acquisition cost Market value

ITC Limited 70,839 16,768,533 21,921,129 Infosys Limited 6,244 16,616,444 18,041,101

Housing Development Finance Corporation Limited 19,980 14,258,662 16,508,475 Reliance Industries Limited 21,252 17,894,061 16,425,671 ICICI Bank Limited 14,711 14,437,793 15,375,937 HDFC Bank Limited 23,911 13,020,183 14,952,744 Tata Consultancy Services Limited 6,600 8,017,981 10,399,950 Larsen & Toubro Limited 7,003 10,430,262 9,567,499 ONGC Corporation Limited 22,909 6,521,248 7,133,863 State Bank of India 3,336 7,378,259 6,914,694 Hindustan Unilever Limited 13,292 5,489,004 6,206,699 Tata Motors Limited 22,893 5,610,592 6,161,651 Axis Bank Limited 4,118 5,047,441 5,356,283 Mahindra & Mahindra Limited 5,938 4,565,011 5,114,399 Bharti Airtel Limited 15,490 5,051,591 4,519,208 Sun Pharma Limited 4,870 2,929,583 3,988,287 NTPC Limited 26,688 4,280,243 3,788,362 Kotak Mahindra Bank Limited 4,948 2,717,496 3,231,044 Bajaj Auto Limited 1,737 2,935,368 3,125,818 Dr. Reddy Laboratories 1,637 2,748,453 2,891,761 Asian Paints Limited 586 2,270,249 2,881,509 HCL Technologies Limited 3,409 1,840,090 2,710,155 Tata Steel Limited 8,631 3,861,649 2,700,208 Coal India Limited 8,177 2,755,500 2,527,511 Cipla Limited 6,572 2,269,390 2,495,717 Ultratech Cement Limited 1,313 2,580,510 2,453,931


Security name Units Acquisition cost Market value

Grasim Industries Limited 822 2,229,499 2,312,533 Infrastructure Development Finance Limited 16,006 2,304,621 2,298,462 Maruti Suzuki India Limited 1,712 2,204,941 2,193,414 Cairn India Limited 7,652 2,474,846 2,084,787 Tata Power Limited 20,970 2,243,551 2,023,605 Power Grid Corporation of India Limited 18,329 1,975,928 1,939,208 Lupin Limited 3,078 1,819,993 1,934,677 Hero Motocorp Limited 1,236 2,296,144 1,905,912 GAIL (India) Limited 5,815 2,224,832 1,850,624 Bharat Heavy Electricals Limited 10,229 2,931,951 1,810,533 Jindal Steel & Power Limited 4,958 2,452,191 1,724,145 Ambuja Cements Limited 9,865 1,638,199 1,718,483 Hindalco Industries Limited 16,654 2,262,504 1,525,506 Bank of Baroda 2,178 1,623,651 1,471,021 Wipro Limited 3,239 1,296,082 1,415,929 Associated Cement Companies Limited 1,206 1,445,210 1,397,995 Bharat Petroleum Corp Limited 3,345 1,180,958 1,263,407 Punjab National Bank 1,722 1,550,055 1,236,224 DLF Limited 4,710 1,097,677 1,105,437 Jaiprakash Associates Limited 15,491 1,270,410 1,013,886 Ranbaxy Laboratories Limited 1,997 957,558 876,184 Sesa Goa Limited 5,049 1,085,815 785,120 Reliance Infrastructure Limited 1,752 980,454 568,436 Siemens Limited 558 401,874 306,147 Total 224,244,541 234,155,277

Statement of portfolio holding as on March 31, 2012 (In `)

Security Name Units Acquisition Cost

Market value

Infosys Limited 2,857 7,963,656 8,189,019 Reliance Industries Limited 9,999 8,893,275 7,505,249 ITC Limited 31,939 5,949,962 7,246,959 ICICI Bank Limited 6,704 6,251,901 5,967,901 Housing Development Finance Corporation Limited 8,743 5,724,173 5,886,662 HDFC Bank Limited 10,787 4,903,663 5,607,622



Market value

Larsen & Toubro Limited 3,186 4,877,564 4,170,474 Tata Consultancy Services Limited 3,007 3,205,016 3,514,582 State Bank of India 1,528 3,451,017 3,203,223 Tata Motors Limited 10,361 2,148,090 2,851,865 ONGC Corporation Limited 10,486 2,948,429 2,813,918 Hindustan Unilever Limited 6,082 1,993,082 2,493,924 Bharti Airtel Limited 7,090 2,514,380 2,395,711 Mahindra & Mahindra Limited 2,717 1,891,071 1,902,443 Tata Steel Limited 3,987 2,043,466 1,880,867 Axis Bank Limited 1,573 1,842,370 1,802,973 Bajaj Auto Limited 795 1,217,667 1,334,646 Wipro Limited 3,028 1,236,895 1,332,623 Dr. Reddy Laboratories 747 1,180,975 1,318,268 Coal India Limited 3,743 1,240,087 1,287,218 Sun Pharma Limited 2,227 1,056,552 1,269,279 Jindal Steel & Power Limited 2,295 1,370,975 1,251,119 NTPC Limited 7,574 1,360,444 1,232,669 Bharat Heavy Electricals Limited 4,682 1,719,957 1,203,976 Kotak Mahindra Bank Limited 2,199 1,006,854 1,199,225 Hero Motocorp Limited 566 1,063,189 1,163,272 Maruti Suzuki India Limited 784 948,081 1,058,792 GAIL (India) Limited 2,662 1,130,911 1,001,578 Hindalco Industries Limited 7,622 1,246,261 986,287 Grasim Industries Limited 373 903,272 979,890 Infrastructure Development Finance Limited 7,237 997,499 976,995 Tata Power Limited 9,590 1,103,912 968,111 Sterlite Industries Limited 8,320 1,207,272 923,936 Cipla Limited 3,007 950,455 917,436 Power Grid Corporation of India Limited 8,390 854,906 907,379 Ambuja Cements Limited 4,469 631,103 769,562 Associated Cement Companies Limited 553 591,379 751,776 Punjab National Bank 789 806,297 729,825 Cairn India Limited 2,166 699,637 723,227 HCL Technologies Limited 1,469 643,131 709,894 Jaiprakash Associates Limited 6,700 580,021 547,390 Bharat Petroleum Corp Limited 766 470,903 536,392 Reliance Infrastructure Limited 803 521,468 471,562 Sesa Goa Limited 2,311 604,174 449,952 DLF Limited 2,154 519,787 434,570



Market value

Ranbaxy Laboratories Limited 908 430,118 426,215 Siemens Limited 504 397,031 382,788 Reliance Power Limited 3,255 382,153 381,323 Reliance Communication Venture Limited 3,931 425,618 330,401 Steel Authority of India Limited 3,472 472,818 327,236 Total 96,572,916 96,718,199

2.8 Key statistics

Particulars Year ended March 31,

2013

Year ended March 31,

2012 1. NAV per unit (`)I (based on published NAV)

Open 12.6378 13.6989

High 14.7294 13.8806

Low 11.5406 10.8284

End 13.7814 12.6378

2. Closing Assets Under Management (` in Lakhs)

End 2,362.46 969.25

Average daily net assets (AAUM)II 1,554.76 592.77

3. Gross income as % of AAUMIII 1.09% 1.10%

4. Expense ratio

a. Total expense as % of AAUM (scheme wise)IV 0.0333% 0.0240%

b. Management fee as % of AAUM (scheme wise) 0.0247% 0.0009%

5. Net income as % of AAUMV 1.06% 1.08%

6. Portfolio turnover ratioVI 4.75% 1.47%

7. Total dividend per unit distributed during the period - -

8. Returns: (%)

a. Last one year 9.05% (7.75%)

Benchmark 8.72% (8.18%)

b. Since inception 37.81% 26.38%

Benchmark 37.37% 26.35%



2013


2012 c. Compound annualised yield (%)VII

Last 1 year 9.10% (7.75%)

Last 3 year 4.01% NA

Last 5 year NA NA

Since launch of the scheme 8.66% 8.50%

Launch Date May 18, 2009

I. NAV = (Market value of investment held by scheme + value of current assets - value of current liability and provisions, if any)/ (no. of units at the valuation date (before creation/ redemption of units)

II. AAUM = Average daily net assets III. Gross income = Income includes Interest income, Dividend income and Net profit/(loss) on sale

of investments IV. Total expenses = Expenses include management fees, custody fees, trustee bank charges but

excludes unrealised loss

V. Net income = Gross income less Total expenses

VI. Portfolio turnover = Lower of sales or purchase divided by the average AUM for the period. Investments in liquid mutual fund are excluded from the turnover as the same is primarily for

liquidity management.

VII. Compounded annualised yield is to be calculated based on following formula:

=((1+ cumulative return)^n) -1 (where n=365/no. of days)


2.9 Previous year comparatives

Previous year amounts have been regrouped and reclassified wherever necessary to conform to current year’s presentation in line with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines - 2012.

For Borkar & Muzumdar Chartered Accountants Firm Registration No. 101569W

For and on behalf of the Board of Directors of ICICI Prudential Pension Funds

Management Company Limited B M Agarwal Sandeep Bakhshi Puneet Nanda Partner Chairman Director Membership No. 33254 Meghana Baji Girish Manik Chief Executive Officer Company Secretary Date : April 18, 2013 Place : Mumbai



Date : July 04, 2013 Place : New Delhi

ICICI Prudential Pension Funds Management Company Limited - Scheme C Tier I Financial Statements together with Auditors’ Report For the year ended March 31, 2013 Contents Auditors’ Report Balance Sheet Revenue account Accounting Policies and Notes to Accounts


Prudential Pension Funds Management Company Limited, Scheme C - Tier I (Scheme) under the National Pension System Trust (NPS Trust) managed by ICICI Prudential Pension Funds Management Company Limited (PFM) which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.











(a)


(b)

in the case of the Revenue Account, of the surplus of the Scheme for the year ended on that date;









8 We further certify that





ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER I BALANCE SHEET AT MARCH 31, 2013

(In `)



Investments (long term and short term) 4 175,276,919 65,041,130 Deposits 5 193,600 193,600 Other current assets 6 7,159,226 3,012,722 Total 182,629,745 68,247,452 (a) Net asset as per Balance Sheet (Schedule 4+5+6 -3) 182,484,027 68,233,948

(b) Number of units outstanding 11,900,751 5,084,843 (c) NAV per unit (a)/(b) (`) 15.3338 13.4191









ScheduleParticularsScheme C Tier I

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER I REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013

(In `)


Interest income 9,627,973 3,448,700 Dividend income - - Net profit / (loss) on sale/redemption of investments (other than inter-scheme transfer/sale) 620,735 209,375 Net profit / (loss) on inter-scheme transfer/sale of investments - - Unrealised gain on appreciation in investements 4,370,541 1,315,930 Total income (A) 14,619,249 4,974,005 Unrealised losses in value of investments 20,375 160,697 Provision for outstanding accrued income considered doubtful - - Provision for doubtful deposits and current assets - - Management fees (including service tax) [Refer Note 2.4] 29,044 386 Trusteeship/regulatory fees - - Publicity expenses - - Audit fees - - Custodian fees 8,125 3,551 Trustee bank fees 397 6,062 CRA fees 722,383 615,709 Less : Amount recovered on sale of units on account of CRA charges (722,383) (615,709) Total expenditure (B) 57,941 170,696 Net income/(expenditure) for the year (A-B) appropriated to Balance Sheet 14,561,308 4,803,309 Balance at the beginning of the year 5,954,553 1,151,244 Balance at the end of the year carried to Balance Sheet 20,515,861 5,954,553









ParticularsScheme C Tier I

Schedule

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER I Schedules forming part of the financial statements




#REF!



Surplus/(deficit) in Revenue accountOpening balance 5,954,553 1,151,244 Additions during the year 14,561,308 4,803,309 Deduction during the year - - Closing balance 20,515,861 5,954,553



March 31, 2013 March 31, 2012 Current liabilities Sundry creditors 36,077 4,536 Contracts for purchase of investments - - Interest received in advance 50,342 - Unclaimed distributed income - - Unit redemption payable 59,299 8,968 Provisions - - Total 145,718 13,504

Scheme C Tier I

Scheme C Tier I

Scheme C Tier I

Particulars

Particulars

Particulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER I Schedules forming part of the financial statements


March 31, 2013 March 31, 2012 Equity shares - - Preference shares - - Debentures and bonds 173,669,372 62,654,922 Central and state government securities (including treasury bills ) - - Commercial Paper - - Others - Mutual funds 1,607,547 2,386,208 Total 175,276,919 65,041,130


March 31, 2013 March 31, 2012 Deposits with scheduled banks 193,600 193,600 Others - - Total 193,600 193,600


March 31, 2013 March 31, 2012 Balances with banks in current / saving account 442,803 190,586 Cash on hand - - Sundry debtors - - Contracts for sale of investments - - Outstanding and accrued income 6,716,423 2,822,136 Advance, deposits etc. - - Shares/debentures/ others application money pending allotment - - Others - Dividend receivable - - Total 7,159,226 3,012,722

Particulars

Scheme C Tier IParticulars

Scheme C Tier I

ParticularsScheme C Tier I

ICICI Prudential Pension Funds Management Company Limited - Scheme C Tier I Schedule 7


1.1 Background



The financial statements have been prepared to comply with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for Scheme C Tier I being managed by the Company. The Company manages six separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C and G based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities

1.3 Investments

Purchase and sale of securities are accounted on trade date. Investments are reconciled with the custodian records on daily basis. The holding cost of investments is determined by the weighted average cost method and the cost does not include brokerage and other transaction charges. Valuation of investments The scheme marks all investments to market and carries investments in the Balance Sheet at the market value as on Balance Sheet date / date of determination / date of valuation. Unrealised gain/(loss), if any, arising out of appreciation/depreciation in value of investments, is transferred to Revenue account.

ICICI Prudential Pension Funds Management Company Limited - Scheme C Tier I As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, 2011. The Investment valuation methodology adopted by SHCIL is as follows:

Debt securities other than Government securities with a residual maturity over 60 days are valued at weighted average traded price on that day. When such securities are not traded on a particular day, they are valued on a yield to maturity basis, by using spreads over risk free benchmark yield obtained from agency(ies) entrusted for the said purpose by Association of Mutual Funds in India (AMFI) to arrive at the yield for pricing the security.

Debt securities other than Government securities with a residual maturity upto 60 days are valued at weighted average traded price on that day. When such securities are not traded on a day, they are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument. In case of floating rate securities with floor and caps on coupon rate and residual maturity of upto 60 days then those shall be valued on amortization basis taking the coupon rate as floor. Mutual fund units are valued based on the net asset values of the preceding day of the valuation date.

Income earned on investments

Interest income on investments is recognised on daily accrual basis. Therefore, when investments are purchased, interest paid for the period from the last interest due date upto the date of purchase is debited to interest recoverable account and not included in cost of purchase. Similarly interest received at the time of sale for the period from the last interest due date upto the date of sale credited to interest recoverable account and not included in sale value. Accretion of discount relating to debt securities is recognised over the holding / maturity period on a straight-line basis.

Profit or loss on sale of debt securities is the difference between the sale consideration net of expenses and the weighted average amortised cost as on the date of sale.

Profit or loss on sale of mutual fund units is the difference between the sale consideration net of expenses and the weighted average book cost.

Non-performing assets

An investment is regarded as non-performing, if interest/principal or both amount has not been received or has remained outstanding for 90 days from the day such income/installment has fallen due.

Where income receivable on investments has accrued but has not been received for a period of 90 days beyond the due date, provision shall be made by debiting to the Revenue account for the income so accrued and no further accrual of income shall be made in respect of such investments.

ICICI Prudential Pension Funds Management Company Limited - Scheme C Tier I Income on non-performing assets (NPA) shall be recognised on receipt and other incomes of miscellaneous nature shall be accounted for when there is certainty of collection.




Investment management fees are recognised on daily accrual basis on closing Asset under management (AUM) in accordance with IMA. The investment management fee is inclusive of brokerage but excludes custodian charges and applicable taxes, if any.

1.6 Other expenses


Notes to accounts


(In `) Particulars At March 31, 2013 At March 31, 2012 Other commitments Nil Nil

2.2 Investments

All investments and deposits under the scheme are performing assets, hence no provisions for doubtful deposits, debts and for doubtful outstandings and accrued income are required to be made. All the investments of the scheme are in the name of the NPS Trust. Aggregate value of non-traded investments as on March 31, 2013 is Rs. 154,231,608 (Previous year Rs. 16,065,417). Non traded securities as per the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 are those securities that are not traded on any stock exchange for a period of 30 days prior to the valuation date. They are valued at yield to maturity basis, by using spreads over the benchmark rate.

ICICI Prudential Pension Funds Management Company Limited - Scheme C Tier I






sponsor

ICICI Bank Limited

- Fellow subsidiaries of sponsor

ICICI Securities Limited ICICI Securities Primary Dealership Limited

The following represents significant transactions between the Company and its related parties for the year ended March 31, 2013:

(In `)

Nature of transaction

ICICI Prudential Pension Funds

Management Company Limited

ICICI Prudential

Life Insurance Company Limited

ICICI Securities Limited

ICICI Securities Primary

Dealership Limited

Purchase of investments

- - - -

Sale of investments

- - - -

Investment management fees

29,044 - - -



(In `)




ICICI Prudential

Life Insurance Company Limited


ICICI Securities Primary

Dealership Limited

Purchase of investments

- 23,703,950 2,034,558 1,010,571

Sale of investments

- 2,043,792 - -

Investment management fees

386 - - -


(In `)


At March 31, 2012

Investment management fees payable 28,349 49 Aggregate investments made by the scheme in the associates and group companies at March 31, 2013 is Nil (Previous year: Nil).


The Company has started charging investment management fee of 0.25% per annum (inclusive of brokerage but excluding custodian charges and applicable taxes), with effect from March 11, 2013, in terms of the Pension Fund Regulatory and Development Authority’s circular no. PFRDA/CIR/1/PFM/1 dated August 31, 2012. The investment management fees charged upto March10, 2013 was 0.0009% per annum. The investment management fee is charged on closing funds under management of the scheme on daily basis.

2.5 Aggregate value of purchase and sale with percentage to average daily net assets

Aggregate value of purchase and sale with percentage to average daily net assets is as follows:

(In `)



March 31, 2012 Aggregate value of purchase and sale 513,288,446 198,629,709 % to average daily net assets 453.5% 462.8%



(In `)

Particulars Year ended March 31, 2013


Aggregate value of purchase and sale 132,154,666 47,343,000 % to average daily net assets 116.8% 110.3%



The total value of investments falling under each major industry group (which constitutes not less than 5% of the total investment in the major classification of the financials) are disclosed as under:



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class

Mutual funds 1,607,547 100.00% 2,386,208 100.00%

Mutual funds 1,607,547 100.00% 2,386,208 100.00%

Fixed deposit 193,600 100.00% 193,600 100.00% Monetary intermediation of commercial banks, saving banks

193,600 100.00% 193,600 100.00%

Non-convertible debenture 173,669,372 100.00% 62,654,922 100.00% Activities of providing internet access by operator of the wired

46,145,498 26.57% 15,487,776 24.72%

Activities of holding companies 38,760,832 22.32% 2,023,412 3.23%

Other credit granting 32,144,923 18.51% 5,019,295 8.01%

Service activities incidental to water transportation

21,716,080 12.50% 21,061,460 33.62%

Electric power generation by coal based thermal power plants

20,457,120 11.78% - -

Activities of specialized institutions granting credit for house purchases that also take deposits

- - 4,018,900 6.41%

Manufacture of other basic iron and steel

- - 3,318,420 5.30%

Other financial service activities, except insurance & pension fund

- - 7414719 11.83%

Others 14,444,919 8.32% 4,310,940 6.88%

Net current assets 7,013,508 100.00% 2,999,218 100.00%

Net asset value 182,484,027 100.00% 68,233,948 100.00%


2.7 Statement of portfolio holding as on March 31, 2013

Security name Units Acquisition cost (In `)

Market value (In `)

Mutual Fund 1,605,629 1,607,547 IDFC Cash fund - Direct Plan -Growth 1,128 1,605,629 1,607,547 Non-convertible debenture 167,839,749 173,669,372 8.95% Infotel Broadband Services Limited 2020 (15-September-2020)

460,000 44,635,942 46,145,498

10.40% Reliance Ports & Terminals Limited(18 Jul 2021)

200,000 20,259,854 21,716,080

9.67% Tata Sons Limited 2022 (13-September-2022)

200,000 20,317,448 20,963,200

9.80% Talwandi Sabo Power Limited (09-December-2023)

200,000 19,875,500 20,457,120

8.87% Rural Electrification Corporation Ltd. (08-March-2020)

170,000 17,005,100 17,023,528

9.70% Tata Sons Limited 2022 (25-July-2022) 150,000 15,003,000 15,745,170

8.75% IRFC 2026 (29-November-2026) 150,000 15,052,395 15,121,395 3% Tata Bluescope Limited (27-September-2015) 30,000 3,027,000 3,397,629

10.25% Shriram Transport Finance Company Limited (18-April-2015)

21,000 2,106,300 2,112,608

10.09% MRF Limited 2019 (27-May-2019) 20,000 2,040,800 2,085,866

11.60% Shriram Transport Finance Company Limited 2016 (11-July-2016)

20,000 2,061,824 2,067,896

9.90% Tata Sons Limited 2016 (24-February-2016)

20,000 2,007,000 2,052,462

2.00% Tata Motor Limited Tranche-4 (31-March-2016)

10,000 1,084,500 1,398,233

10.09% MRF Limited 2020 (27-May-2020) 10,000 999,544 1,048,040 10.75% Bharat Forge Limited 2015 (22-March-2015)

10,000 1,021,782 1,018,556

10.20% Tata Steel Limited (07-May-2015) 10,000 1,043,500 1,016,003

9.75% Shriram Transport Finance Company Limited (1-June-2015) 3,000 298,260 300,088

Fixed deposits 193,600 193,600 8.50% State Bank of Indore Fixed Deposit (10-July-14) 1 118,000 118,000

8.00% State Bank of Indore Fixed Deposit (18-July-2014) 1 26,800 26,800

8% State Bank of Indore Fixed Deposit (22-July-2014) 1 20,900 20,900



Market value (In `)



Total 169,638,978 175,470,519

Statement of portfolio holding as on March 31, 2012


Market value (In `)

Mutual Fund 2,384,734 2,386,208 IDFC Cash Fund - A Growth 1,259 2,384,734 2,386,208 Non-convertible debenture 61,175,022 62,654,922 10.40% Reliance Ports & Terminals Limited(18 July 2021)

200,000 20,259,854 21,061,460

8.95% Infotel Broadband Services Limited 2020 (15-September-2020)

160,000 15,255,238 15,487,776

9.64% Power Finance Corporation Bond 2016 Series 82-B (15-December-2016)

50,000 5,027,620 5,019,295

9.70% HDFC Limited 2016 (09-February-2016)

40,000 4,000,000 4,018,900

3% Tata Bluescope Limited (27-September-2015)

30,000 3,027,000 3,318,420

9.75% Shriram Transport Finance Company Limited (1-June-2015)

33,000 3,280,860 3,263,142

10.25% Shriram Transport Finance Company Limited (18-April-2015)

21,000 2,106,300 2,088,717

11.60% Shriram Transport Finance Company Limited 2016 (11-July-2016)

20,000 2,061,824 2,062,860

9.90% Tata Sons LImited 2016 (24-February-2016)

20,000 2,007,000 2,023,412

2.00% Tata Motors Limited Tranche-4 (31-March-2016)

10,000 1,084,500 1,272,987

10.09% MRF Limited 2020 (27-May-2020)

10,000 999,544 1,022,561

10.75% Bharat Forge Limited 2015 (22-March-2015)

10,000 1,021,782 1,013,318

10.20% Tata Steel Limited (07-May-2015) 10,000 1,043,500 1,002,074

Fixed deposits 193,600 193,600 8.50% State Bank of Indore Fixed Deposit (10-July-14)

1 118,000 118,000



Market value (In `)

8.00% State Bank of Indore Fixed Deposit (18-July-2014)

1 26,800 26,800

8% State Bank of Indore Fixed Deposit (22-July-2014)

1 20,900 20,900


1 20,000 20,000


1 7,900 7,900

Total 63,753,356 65,234,730

2.8 Key statistics


2013



Open 13.4159 12.0394

High 15.3256 13.4335

Low 13.3156 12.0284

End 15.3231 13.4159

2. Closing Assets Under Management (` in Lakhs) End 1,824.84 682.34



4. Expense ratio a. Total expense as % of AAUM (scheme wise)IV 0.0332% 0.0233%




7. Total dividend per unit distributed during the period - - 8. Returns: (%) a. Last one year 14.22% 11.43%

Benchmark 11.44% 8.75%




2013


2012 Benchmark 36.50% 22.49%

c. Compound annualised yield (%)VII Last 1 year 14.30% 11.43%


Last 5 year NA NA











= ((1+ cumulative return)^n) -1 (where n=365/no. of days)

ICICI Prudential Pension Funds Management Company Limited - Scheme G Tier I Financial Statements together with Auditors’ Report For the year ended March 31, 2013 Contents Auditors’ Report Balance Sheet Revenue account Accounting Policies and Notes to Accounts


Prudential Pension Funds Management Company Limited, Scheme G - Tier I (Scheme) under the National Pension System Trust (NPS Trust) managed by ICICI Prudential Pension Funds Management Company Limited (PFM) which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.











(a)


(b)










ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER I BALANCE SHEET AT MARCH 31, 2013

(In `)



Investments (long term and short term) 4 187,505,825 55,713,006 Deposits 5 - - Other current assets 6 5,185,337 10,286,912 Total 192,691,162 65,999,918 (a) Net asset as per Balance Sheet (Schedule 4+5+6 -3) 192,633,495 65,998,628 (b) Number of units outstanding 14,166,771 5,526,988 (c) NAV per unit (a)/(b) (`) 13.5976 11.9412









ScheduleParticularsScheme G Tier I

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER I REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013

(In `)


Interest income 9,083,470 3,055,734 Dividend income - - Net profit / (loss) on sale/redemption of investments (other than inter-scheme transfer/sale) 2,659,394 340,257 Net profit / (loss) on inter-scheme transfer/sale of investments - - Unrealised gain on appreciation in investements 2,664,285 5,776 Total income (A) 14,407,149 3,401,767 Unrealised losses in value of investments 237 769,650 Provision for outstanding accrued income considered doubtful - - Provision for doubtful deposits and current assets - - Management fees (including service tax) [Refer Note 2.4] 30,097 372 Trusteeship/regulatory fees - - Publicity expenses - - Audit fees - - Custodian fees 9,111 2,989 Trustee bank fees 401 5,820 CRA fees 702,163 601,327 Less : Amount recovered on sale of units on account of CRA charges (702,163) (601,327) Total expenditure (B) 39,846 778,830 Net income/(expenditure) for the year (A-B) appropriated to Balance Sheet 14,367,303 2,622,936 Balance at the beginning of the year 3,493,324 870,388 Balance at the end of the year carried to Balance Sheet 17,860,627 3,493,324









Scheme G Tier IParticulars Schedule

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER I Schedules forming part of the financial statements




#VALUE!

Schedule 2 : Reserves and surplus (In `)


Surplus/(deficit) in Revenue accountOpening balance 3,493,324 870,388 Additions during the year 14,367,303 2,622,936 Deduction during the year - - Closing balance 17,860,627 3,493,324


Schedule 3 : Current liabilities and provisions (In `)

March 31, 2013 March 31, 2012 Current liabilities Sundry creditors 34,505 1,240 Contracts for purchase of investments - - Interest received in advance - - Unclaimed distributed income - - Unit redemption payable 23,162 50 Provisions - - Total 57,667 1,290

Scheme G Tier I

Scheme G Tier I

ParticularsScheme G Tier I

Particulars

Particulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER I Schedules forming part of the financial statements


March 31, 2013 March 31, 2012 Equity shares - - Preference shares - - Debentures and bonds - - Central and state government securities (including treasury bills ) 187,505,825 50,538,006 Commercial Paper - - Others - Mutual funds - 5,175,000 Total 187,505,825 55,713,006




March 31, 2013 March 31, 2012 Balances with banks in current / saving account 1,296,088 8,330 Cash on hand - - Sundry debtors - - Contracts for sale of investments - 9,222,111 Outstanding and accrued income 3,889,249 1,056,471 Advance, deposits etc. - - Shares/debentures/ others application money pending allotment - - Others - Dividend receivable - - Total 5,185,337 10,286,912

Particulars

Scheme G Tier IParticulars

ParticularsScheme G Tier I

Scheme G Tier I

ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier I Schedule 7


1.1 Background



The financial statements have been prepared to comply with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for Scheme G Tier I being managed by the Company. The Company manages six separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C and G based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities

1.3 Investments

Purchase and sale of securities are accounted on trade date. Investments are reconciled with the custodian records on daily basis. The holding cost of investments is determined by the weighted average cost method and the cost does not include brokerage and other transaction charges. Valuation of investments The scheme marks all investments to market and carries investments in the Balance Sheet at the market value as on Balance Sheet date / date of determination / date of

ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier I valuation. Unrealised gain/(loss), if any, arising out of appreciation/depreciation in value of investments, is transferred to Revenue account. As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, 2011. The investment valuation methodology adopted by SHCIL is as follows:

Central government securities are valued at the aggregated prices received from independent valuation agencies.

State government securities with a residual maturity over 91 days are valued at the aggregated prices received from independent valuation agencies. State Government securities with a residual maturity upto 91 days are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument.



Interest income on investments is recognised on daily accrual basis. Therefore, when investments are purchased, interest paid for the period from the last interest due date upto the date of purchase is debited to interest recoverable account and not included in cost of purchase. Similarly interest received at the time of sale for the period from the last interest due date upto the date of sale credited to Interest Recoverable Account and not included in sale value. Accretion of discount and amortisation of premium relating to debt securities is recognised over the holding / maturity period on a straight-line basis.






ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier I Income on non-performing assets (NPA) shall be recognised on receipt and other incomes of miscellaneous nature shall be accounted for when there is certainty of collection.


The subscribers’ units as per investment management system are reconciled with Central Recordkeeping Agency (CRA) records on daily basis.



1.6 Custody charges


Notes to accounts


(In `)


2013 At March 31,

2012 Other commitments Nil Nil

2.2 Investments

All investments and deposits under the scheme are performing assets, hence no provisions for doubtful deposits, debts and for doubtful outstandings and accrued income are required to be made. All the investments of the scheme are in the name of the NPS Trust. All investments are traded investments.



ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier I Nature of relationship Name of the related party


Sponsor company ICICI Prudential Life Insurance Company Limited Associates and group companies Holding company of sponsor

ICICI Bank Limited


(In `)




ICICI Prudential Life Insurance Company

Limited

Purchase of investments - - Sale of investments - - Investment management fees 30,097 -


(In `)





Limited

Purchase of investments - 112,703,479 Sale of investments - 99,474,483 Investment management fees 372 -


(In `)


At March 31, 2012


ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier I 2.4 Investment management fees






March 31, 2012 Aggregate value of purchase and sale 1,124,151,331 786,776,443 % to average daily net assets 977.4% 1906.0%


(In `)






The total value of investments falling under each major industry groups (which constitutes not less than 5% of the total investment in the major classification of the financials) are disclosed as under:



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class Government securities & Treasury bills

187,505,825 100.00% 50,538,006 100.00%

Government securities & Treasury bills

187,505,825 100.00% 50,538,006 100.00%

Mutual funds

- 100.00% 5,175,000 100.00%

Mutual funds - 100.00% 5,175,000 100.00%

ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier I



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class


Net assets value 192,633,495 100.00% 65,998,628 100.00%



Market value (In `)

Government securities 9.15% GOI (14-November-2024) 515,000 55,368,985 55,438,720 8.19% GOI 2020 (16-January-2020) 415,000 42,019,700 42,064,400 8.20% GS 2025 (24-September-2025) 250,000 24,867,600 25,247,500

8.97% GOI 2030 (05-December-2030) 182,000 19,296,053 19,416,306

8.28% GOI 2027 (21-September-2027) 140,000 13,370,000 14,126,000

8.33% GOI 2026 (09-July-2026) 126,000 12,602,313 12,855,780

8.79% GOI 2021 (08-November-2021) 57,000 5,848,765 5,964,480 9.01% West Bengal SDL (21-November-2022)

57,000 5,711,210 5,847,744

9.02% Government of UP 2021 (07-December-2021)

23,000 2,300,000 2,359,524

9.02% Government of Rajasthan SDL 2021 (07-December-2021)

23,000 2,300,000 2,359,271

8.33% GOI 2036 (07-June-2036) 10,000 938,700 1,016,500

8.28% GOI 2032 (15-February-2032) 8,000 780,824 809,600

Total 185,404,150 187,505,825



Market value (In `)

Mutual fund 5,174,763 5,175,000 IDFC Cash Fund - A Growth 2,731 5,174,763 5,175,000

Government securities 43,155,938 42,594,793 8.19% GOI 2020 (16-January-2020) 210,000 20,802,560 20,475,000

8.79% GOI 2021 (08-November-2021) 152,000 15,629,100 15,411,280



Market value (In `)

9.02% Government of UP 2021 (07-December-2021)

23,000 2,300,000 2,296,620

9.02% Government of Rajasthan SDL 2021 (07-December-2021)

23,000 2,300,000 2,292,433

7.99% GOI 2017 (09-July-2017). 21,000 2,052,524 2,048,550

8.97% GOI 2030 (05-December-2030) 700 71,754 70,910

Treasury bills 7,939,236 7,943,213 91 Days TBILL (27-April-2012) 65,000 6,454,357 6,457,971

91 Days TBILL (11-May-2012) 15,000 1,484,879 1,485,242

Total 56,269,937 55,713,006

2.8 Key statistics


2013



Open 11.9389 11.2562

High 13.6397 12.0680

Low 11.8936 11.1594

End 13.5918 11.9389

2. Closing Assets Under Management (` in Lakhs) End 1,926.33 659.99







7. Total dividend per unit distributed during the period - -



2013


2012 8. Returns: (%) a. Last one year 13.84% 6.07%



Benchmark 28.12% 14.76%



Last 5 year NA NA












ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier II Financial Statements together with Auditors’ Report For the year ended March 31, 2013 Contents Auditors’ Report Balance Sheet Revenue account Accounting Policies and Notes to Accounts


Prudential Pension Funds Management Company Limited, Scheme E - Tier II (Scheme) under the National Pension System Trust (NPS Trust) managed by ICICI Prudential Pension Funds Management Company Limited (PFM) which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.











(a)


(b)







been maintained by the PFM so far as appears from our examination of those books. d) All transaction related expenses in excess of the limits (if any) contractually agreed to



ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER II BALANCE SHEET AT MARCH 31, 2013

(In `)


Unit capital 1 26,041,622 14,353,525 Reserves and surplus 2 2,251,840 (148,622) Current liabilities and provisions 3 124,358 1,220 Borrowings - - Total 28,417,820 14,206,123 Application of funds

Investments (long term and short term) 4 27,899,356 14,122,285 Deposits 5 - - Other current assets 6 518,464 83,838 Total 28,417,820 14,206,123 (a) Net asset as per Balance Sheet (Schedule 4+5+6 -3) 28,293,462 14,204,903 (b) Number of units outstanding 2,604,162 1,435,353 (c) NAV per unit (a)/(b) (`) 10.8647 9.8965









ScheduleParticularsScheme E Tier II

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER II REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013

(In `)


Interest income - - Dividend income 29,024 630 Net profit / (loss) on sale/redemption of investments (other than inter-scheme transfer/sale) 1,386,431 1,953 Net profit / (loss) on inter-scheme transfer/sale of investments - - Unrealised gain on appreciation in investements 975,033 - Total income (A) 2,390,488 2,583 Unrealised losses in value of investments 1,066,334 808,438 Provision for outstanding accrued income considered doubtful - - Provision for doubtful deposits and current assets - - Management fees (including service tax) [Refer Note 2.4] 4,738 93 Trusteeship/regulatory fees - - Publicity expenses - - Audit fees - - Custodian fees (900) 850 Trustee bank fees 654 1,789 CRA fees 16,980 8,632 Less : Amount recovered on sale of units on account of CRA charges (16,980) (8,632) Total expenditure (B) 1,070,826 811,170 Net income/(expenditure) for the year (A-B) appropriated to Balance Sheet 1,319,662 (808,587) Balance at the beginning of the year (519,127) 289,460 Balance at the end of the year carried to Balance Sheet 800,535 (519,127)



For Borkar & Muzumdar For and on behalf of Board of Directors Chartered Accountants of ICICI Prudential Pension FundsFirm Registration No. 101569W Management Company Limited






ParticularsScheme E Tier II

Schedule

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Schedules forming part of the financial statements




#VALUE!

Schedule 2 : Reserves and surplus (In `)

March 31, 2013 March 31, 2012 Unit premium reserveOpening balance 370,505 403,765 Additions during the year 1,105,165 (541) Deduction during the year (24,365) (32,719) Closing balance 1,451,305 370,505

Surplus/(deficit) in Revenue accountOpening balance (519,127) 289,460 Additions during the year 1,319,662 - Deduction during the year - (808,587) Closing balance 800,535 (519,127)

General reserve* - - Appropriation account* - - Total 2,251,840 (148,622) * The balances have been nil throughout the year

Schedule 3 : Current liabilities and provisions (In `)

March 31, 2013 March 31, 2012 Current liabilities Sundry creditors 4,851 1,140 Contracts for purchase of investments - - Interest received in advance - - Unclaimed distributed income - - Unit redemption payable 119,507 80 Provisions - - Total 124,358 1,220

Particulars

Particulars

Particulars

Scheme E Tier II

Scheme E Tier II

Scheme E Tier II

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Schedules forming part of the financial statements


March 31, 2013 March 31, 2012 Equity shares 27,899,356 33,600 Preference shares - - Debentures and bonds - - Central and state government securities (including treasury bills ) - - Commercial Paper - - Others - Mutual funds - 14,088,685 Total 27,899,356 14,122,285




March 31, 2013 March 31, 2012 Balances with banks in current / saving account 77,820 83,838 Cash on hand - - Sundry debtors 117,672 - Contracts for sale of investments 309,299 - Outstanding and accrued income - - Advance, deposits etc. - - Shares/debentures/ others application money pending allotment - - Others - Dividend receivable 13,673 - Total 518,464 83,838

Scheme E Tier II

Scheme E Tier II

ParticularsScheme E Tier II

Particulars

Particulars

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier II Schedule 7


1.1 Background



The financial statements have been prepared to comply with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for Scheme E Tier II being managed by the Company. The Company manages six separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C and G based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities

1.3 Investments


ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier II As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, 2011. The Investment valuation methodology adopted by SHCIL is as follows:

Listed equity shares are valued at market value, being the last quoted closing price on the National stock exchange (NSE). If they are not quoted on NSE, then the last quoted closing price on the Bombay stock exchange (BSE) is taken.



Dividend income is recognised on the `ex-dividend date’. Bonus shares to which the scheme becomes entitled are recognized only when the original shares on which the bonus entitlement accrues are traded on the stock exchange on an ex-bonus basis. Similarly, rights entitlements are recognized only when the original shares on which the right entitlement accrues are traded on the stock exchange on an ex-rights basis.

Profit or loss on sale of equity shares / mutual fund units is the difference between the sale consideration net of expenses and the weighted average book cost.


The subscribers’ units as per investment management system are reconciled with Central Recordkeeping Agency (CRA) records on daily basis.


Investment management fees are recognised on daily accrual basis on closing Asset Under Management (AUM) in accordance with IMA. The investment management fee is inclusive of brokerage but excludes custodian charges and applicable taxes, if any.

1.6 Other expenses


Notes to accounts


(In `)


2013 At March 31,

2012 Uncalled liability on partly paid shares Nil Nil Other commitments Nil Nil

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier II

2.2 Investments

All investments are performing investments. All investments of the scheme are in the name of the NPS Trust. All investments are traded investments.






sponsor

ICICI Bank Limited

The following represents significant transactions between the Company and its related parties. Transactions with ICICI Prudential Pension Funds Management Company Limited are as follows:

(In `)

Nature of transaction Year ended March 31, 2013


Investment management fees 4,738 93


(In `)


At March 31, 2012

Investment management fees payable 4,612 11 Aggregate investments made by the scheme in the associates and group companies are as follows: (In `) Period Security Asset type Cost Market value


At March 31, 2012 NIL

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier II 2.4 Investment management fees


2.5 Aggregate value of purchase and sale with percentage to average assets





Aggregate value of purchase and sale (excluding liquid mutual fund)* with percentage to average daily net assets is as follows: (In `)









Market value (In `)

% of investment

class

Market value (In `)

% of investment

class Mutual funds - - 14,088,685 100.00% Mutual funds - - 14,088,685 100.00% Equity shares 27,899,356 100.00% 33,600 100.00%

Benchmark Mutual Fund - - 33,600 100.00% Monetary intermediation of commercial banks, saving banks

5,780,297 20.72%

-

- Writing ,modifying, testing of computer program to meet the needs

3,886,720 13.93%

-

-




Market value (In `)

% of investment

class

Market value (In `)

% of investment

class Manufacture of cigarettes, cigarette tobacco

2,611,139 9.36%

-

- Activities of specialized institutions granting credit

1,966,475 7.05%

-

- Manufacture of refined petroleum products

1,956,210 7.01%

-

- Manufacture of allopathic pharmaceutical preparations

1,451,903 5.20%

-

-

Others 10,246,611 36.73% -

-

Net current assets 394,105.57 100.00% 82,618 100.00%

Net assets value 28,293,462 100.00% 14,204,903 100.00%



Market value (In `)

Equity securities ITC Limited 8,438 2,479,728 2,611,139 Infosys Limited 744 2,143,911 2,149,676 Housing Development Finance Corporation Limited 2,380 1,878,705 1,966,475

Reliance Industries Limited 2,531 2,126,585 1,956,210 ICICI Bank Limited 1,746 1,892,105 1,824,919 HDFC Bank Limited 2,842 1,832,139 1,777,245 Tata Consultancy Services Limited 786 1,161,987 1,238,540 Larsen & Toubro Limited 834 1,188,739 1,139,411 ONGC Corporation Limited 2,729 870,106 849,811 State Bank Of India 398 868,639 824,955 Hindustan Unilever Limited 1,583 719,329 739,182 Tata Motors Limited 2,726 791,707 733,703 Axis Bank Limited 494 688,964 642,546 Mahindra & Mahindra Limited 707 631,180 608,939 Bharti Airtel Limited 1,845 580,630 538,279 Sun Pharma Limited 580 465,605 474,991 NTPC Limited 3,179 479,119 451,259 Kotak Mahindra Bank Limited 595 392,383 388,535 Bajaj Auto Limited 207 411,751 372,507 Dr. Reddy Laboratories 195 347,843 344,468 Asian Paints Limited 70 311,702 344,208



Market value (In `)

HCL Technologies Limited 406 293,697 322,770 Tata Steel Limited 1,028 366,977 321,610 Coal India Limited 974 312,924 301,063 Cipla Limited 783 292,883 297,344 Ultratech Cement Limited 156 298,317 291,556 Grasim Industries Limited 98 294,981 275,703 Infrastructure Development Finance Limited 1,906 293,507 273,702

Maruti Suzuki India Limited 204 291,856 261,365 Cairn India Limited 912 276,139 248,474 Tata Power Limited 2,497 243,634 240,961 Power Grid Corporation Of India Limited 2,183 237,411 230,961 Lupin Limited 367 219,794 230,678 Hero Motocorp Limited 147 246,012 226,674 GAIL (India) Limited 693 232,945 220,547 Bharat Heavy Electricals Limited 1,218 248,881 215,586 Jindal Steel & Power Limited 591 213,207 205,520 Ambuja Cements Limited 1,175 230,068 204,685 Hindalco Industries Limited 1,984 205,198 181,734 Wipro Limited 402 168,462 175,734 Bank of Baroda 259 189,838 174,929 Associated Cement Companies Limited 144 185,602 166,925 Bharat Petroleum Corp Limited 399 154,217 150,702 Punjab National Bank 205 170,048 147,170 DLF Limited 561 153,400 131,667 Jaiprakash Associates Limited 1,845 132,778 120,755 Ranbaxy Laboratories Limited 238 96,266 104,423 Sesa Goa Limited 601 96,549 93,456 Reliance Infrastructure Limited 209 95,842 67,810 Siemens Limited 69 36,654 37,857 Total 28,540,948 27,899,356

ICICI Prudential Pension Funds Management Company Limited - Scheme E Tier II Statement of portfolio holding as on March 31, 2012

Security Name Units Acquisition Cost (In `)

Market value (In `)

Equity securities 33,151 33,600 Benchmark Mutual Fund 63 33,151 33,600 Mutual Fund

14,639,425 14,088,685

Franklin India Index Fund- Nifty Plan - Growth Plan 346,659 14,639,425 14,088,685 Total 14,672,576 14,122,285

2.8 Key statistics


2013



Open 9.8965 11.0462

High 11.6319 11.2729

Low 9.2241 8.7383

End 10.8650 9.8965

2. Closing Assets Under Management (` in Lakhs) End 282.93 142.05

Average daily net assets (AAUM)II 200.34 102.74






7. Total dividend per unit distributed during the period - - 8. Returns: (%) a. Last one year 9.79% (10.41%) Benchmark 8.72% (8.18%)



2013


2012 b. Since inception 8.65% (1.04%) Benchmark 12.25% 3.24%

c. Compound annualised yield (%)VII Last 1 year 9.84% (10.41%) Last 3 year 2.70% NA

Last 5 year NA NA

Since launch of the scheme 2.62% (0.47%) Launch Date January 11, 2010










ICICI Prudential Pension Funds Management Company Limited - Scheme C Tier II Financial Statements together with Auditors’ Report For the year ended March 31, 2013 Contents Auditors’ Report Balance Sheet Revenue account Accounting Policies and Notes to Accounts


Prudential Pension Funds Management Company Limited, Scheme C - Tier II (Scheme) under the National Pension System Trust (NPS Trust) managed by ICICI Prudential Pension Funds Management Company Limited (PFM) which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.











(a)


(b)










ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER IIBALANCE SHEET AT MARCH 31, 2013

(In `)



Investments (long term and short term) 4 49,696,733 24,865,737 Deposits 5 - - Other current assets 6 2,235,981 1,231,396 Total 51,932,714 26,097,133 (a) Net asset as per Balance Sheet (Schedule 4+5+6 -3) 51,857,547 26,094,881 (b) Number of units outstanding 3,617,519 2,068,913 (c) NAV per unit (a)/(b) (`) 14.3351 12.6128









ScheduleParticularsScheme C Tier II

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER IIREVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013

(In `)


Interest income 3,351,463 1,463,669 Dividend income - - Net profit / (loss) on sale/redemption of investments (other than inter-scheme transfer/sale) 168,079 102,641 Net profit / (loss) on inter-scheme transfer/sale of investments - - Unrealised gain on appreciation in investements 1,381,681 573,204 Total income (A) 4,901,223 2,139,514 Unrealised losses in value of investments 5,297 41,097 Provision for outstanding accrued income considered doubtful - - Provision for doubtful deposits and current assets - - Management fees (including service tax) [Refer Note 2.4] 8,656 159 Trusteeship/regulatory fees - - Publicity expenses - - Audit fees - - Custodian fees 2,769 1,463 Trustee bank fees 134 1,409 CRA fees 11,718 6,250 Less : Amount recovered on sale of units on account of CRA charges (11,718) (6,250) Total expenditure (B) 16,856 44,128 Net income/(expenditure) for the year (A-B) appropriated to Balance Sheet 4,884,367 2,095,386 Balance at the beginning of the year 2,347,490 252,104 Balance at the end of the year carried to Balance Sheet 7,231,857 2,347,490









ParticularsScheme C Tier II

Schedule

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME C TIER II Schedules forming part of the financial statements



Unit capitalOpening balance 20,689,130 4,710,705 Additions during the year 18,302,847 16,977,075 Deduction during the year (2,816,789) (998,650) Closing balance 36,175,188 20,689,130 Number of units of face value ` 10 3,617,519 2,068,913

#VALUE!


March 31, 2013 March 31, 2012 Unit premium reserveOpening balance 3,058,261 328,141 Additions during the year 6,294,409 2,905,884 Deduction during the year (902,168) (175,764) Closing balance 8,450,502 3,058,261




March 31, 2013 March 31, 2012 Current liabilities Sundry creditors 11,081 1,676 Contracts for purchase of investments - - Interest received in advance 3,356 - Unclaimed distributed income - - Unit redemption payable 60,730 576 Provisions - - Total 75,167 2,252

Scheme C Tier II

Scheme C Tier II

Scheme C Tier IIParticulars

Particulars

Particulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - TIER II SCHEME CSchedules forming part of the financial statements


March 31, 2013 March 31, 2012 Equity shares - - Preference shares - - Debentures and bonds 49,167,446 24,185,256 Central and state government securities (including treasury bills ) - - Commercial Paper - - Others - Mutual funds 529,287 680,481 Total 49,696,733 24,865,737




March 31, 2013 March 31, 2012 Balances with banks in current / saving account 156,161 120,023 Cash on hand - - Sundry debtors - - Contracts for sale of investments - - Outstanding and accrued income 2,079,820 1,111,373 Advance, deposits etc. - - Shares/debentures/ others application money pending allotment - - Others - Dividend receivable - - Total 2,235,981 1,231,396




ICICI Prudential Pension Funds Management Company Limited – Scheme C Tier II Schedule 7


1.1 Background



The financial statements have been prepared to comply with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for Scheme C Tier II being managed by the Company. The Company manages six separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C and G based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities

1.3 Investments

Purchase and sale of securities are accounted on trade date. Investments are reconciled with the custodian records on daily basis. The holding cost of investments is determined by the weighted average cost method and the cost does not include brokerage and other transaction charges. Valuation of investments The scheme marks all investments to market and carries investments in the Balance Sheet at the market value as on Balance Sheet date / date of determination / date of valuation. Unrealised gain/(loss), if any, arising out of appreciation/depreciation in value of investments, is transferred to Revenue account.

ICICI Prudential Pension Funds Management Company Limited – Scheme C Tier II As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, 2011. The Investment valuation methodology adopted by SHCIL is as follows:

Debt securities other than Government securities with a residual maturity over 60 days are valued at weighted average traded price on that day. When such securities are not traded on a particular day, they are valued on a yield to maturity basis, by using spreads over risk free benchmark yield obtained from agency(ies) entrusted for the said purpose by Association of Mutual Funds in India (AMFI) to arrive at the yield for pricing the security.

Debt securities other than Government securities with a residual maturity upto 60 days are valued at weighted average traded price on that day. When such securities are not traded on a day, they are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument. In case of floating rate securities with floor and caps on coupon rate and residual maturity of upto 60 days then those shall be valued on amortization basis taking the coupon rate as floor. Mutual fund units are valued based on the net asset values of the preceding day of the valuation date.


Interest income on investments is recognised on daily accrual basis. Therefore, when investments are purchased, interest paid for the period from the last interest due date upto the date of purchase is debited to Interest Recoverable Account and not included in cost of purchase. Similarly interest received at the time of sale for the period from the last interest due date upto the date of sale credited to Interest Recoverable Account and not included in sale value. Accretion of discount and amortisation of premium relating to debt securities is recognised over the holding / maturity period on a straight-line basis.





Where income receivable on investments has accrued but has not been received for a period of 90 days beyond the due date, provision shall be made by debiting to the revenue account for the income so accrued and no further accrual of income shall be made in respect of such investments.

ICICI Prudential Pension Funds Management Company Limited – Scheme C Tier II Income on non-performing assets (NPA) shall be recognised on receipt and other incomes of miscellaneous nature shall be accounted for when there is certainty of collection.





1.6 Other expenses


Notes to accounts


(In `)


2013 At March 31,

2012 Other commitments Nil Nil

2.2 Investments

All investments and deposits under the scheme are performing assets, hence no provisions for doubtful deposits, debts and for doubtful outstandings and accrued income are required to be made. All the investments of the Schemes are in the name of the NPS Trust. Aggregate value of non-traded investments as on March 31, 2013 is ` 46,163,294 (Previous year ` 3,804,655). Non traded securities as per the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 are those securities that are not traded on any stock exchange for a period of 30 days prior to the valuation date. They are valued at yield to maturity basis, by using spreads over the benchmark rate.



ICICI Prudential Pension Funds Management Company Limited – Scheme C Tier II Nature of relationship Name of the related party



sponsor

ICICI Bank Limited

- Fellow subsidiaries of sponsor



(In `)


ICICI Prudential Pension Funds Management

Company Limited

ICICI Prudential Life Insurance

Company Limited


Purchase of investments - 3,008,975 -

Sale of investments - 1,242,384 - Investment management fees 8,656 - -


(In `)


ICICI Prudential Pension Funds Management

Company Limited

ICICI Prudential Life Insurance

Company Limited


Purchase of investments - 8,134,112 5,086,396

Sale of investments - 30,330 - Investment management fees 159 - -


(In `)


At March 31, 2012

Investment management fees payable 8,409 19

ICICI Prudential Pension Funds Management Company Limited – Scheme C Tier II Aggregate investments made by the scheme in the associates and group companies at March 31, 2013 is Nil (Previous year: Nil).









(In `)






The total value of investments falling under each major industry group (which constitutes not less than 5% of the total investment in the major classification of the financials) is disclosed as under:



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class

Mutual funds 529,287 100.00% 680,481 100.00%

Mutual funds 529,287 100.00% 680,481 100.00%

Non-convertible debenture 49,167,446 100.00% 24,185,256 100.00%

Activities of providing internet access by operator of the wired

14,044,282 28.56% 5,807,916 24.01%

ICICI Prudential Pension Funds Management Company Limited – Scheme C Tier II



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class

Activities of holding companies 12,499,906 25.42% 4,048,936 16.74%

Service activities incidental to water transportation

10,858,040 22.08% 10,530,730 43.54%

Electric power generation by coal based thermal power plants 5,114,280 10.40% - -

Other credit granting 4,012,245 8.16% - -

Other financial service activities, except insurance & pension fun

- - 1,686,809 6.97%

Others 2,638,693 5.37% 2,110,865 8.74%


Net asset value 51,857,547 100.00% 26,094,881 100.00%



Market value (In `)

Mutual fund 527,793 529,287 IDFC Cash fund - Direct Plan –Growth 372 527,793 529,287 Non-convertible debenture 47,174,688 49,167,446 8.95% Infotel Broadband Services Limited 2020 (15-September-2020) 140,000 13,545,864 14,044,282

10.40 % Reliance Ports & Terminals Ltd (18- July-2021) 100,000 10,124,780 10,858,040

9.70% Tata Sons Limited 2022 (25-July-2022) 50,000 5,001,000 5,248,390 9.80 % Talwandi Sabo Power Limited (09-December-2023). 50,000 4,970,400 5,114,280

9.67% Tata Sons Limited 2022 (13-September-2022) 30,000 3,000,600 3,144,480

9.90% Tata Sons Limited 2016 (18-March-2016) 30,000 3,015,051 3,080,805

8.87% Rural Electrification Corporation Ltd. (8-March-2020) 30,000 3,000,900 3,004,152

3% Tata Bluescope Limited (27-September-2015) 10,000 1,009,000 1,132,543

9.90% Tata Sons LImited 2016 (24-February-2016) 10,000 1,003,500 1,026,231

8.75% IRFC 2026 (29-November-2026). 10,000 1,003,493 1,008,093



Market value (In `)

10.25% Shriram Transport Finance Company Limited (18-April-2015) 10,000 1,003,000 1,006,004


Total 47,702,481 49,696,733



Market value (In `)

Mutual fund 679,909 680,481 IDFC Cash Fund - A Growth 359 679,909 680,481 Non-convertible debenture 23,567,959 24,185,256 10.40% Reliance Ports & Terminals Ltd (18- July-2021) 100,000 10,124,780 10,530,730

8.95% Infotel Broadband Services Limited 2020 (15- September -2020) 60,000 5,716,688 5,807,916

9.90% Tata Sons Limited 2016 (18-March-2016) 30,000 3,015,051 3,037,230

3% Tata Bluescope Limited (27- September -2015) 10,000 1,009,000 1,106,140

9.90% Tata Sons LImited 2016 (24-February-2016) 10,000 1,003,500 1,011,706

9.70% HDFC Ltd 2016 (9-February-2016) 10,000 1,000,000 1,004,725 10.25% Shriram Transport Finance Company Limited (18-April-2015) 10,000 1,003,000 994,627


Total 24,247,868 24,865,737

2.8 Key statistics


2013



Open 12.6098 11.2318

High 14.3321 12.6359

Low 12.4636 11.2031

End 14.3250 12.6098

2. Closing Assets Under Management (` in Lakhs)



2013


2012 End 518.58 260.95

Average daily net assets (AAUM)II 387.18 176.76









Benchmark 30.76% 17.37%



Last 5 year NA NA


Launch Date January 12, 2010










ICICI Prudential Pension Funds Management Company Limited - Scheme G Tier II Financial Statements together with Auditors’ Report For the year ended March 31, 2013 Contents Auditors’ Report Balance Sheet Income and Expenditure Account Accounting Policies and Notes to Accounts


Prudential Pension Funds Management Company Limited, Scheme G - Tier II (Scheme) under the National Pension System Trust (NPS Trust) managed by ICICI Prudential Pension Funds Management Company Limited (PFM) which comprise the Balance Sheet as at March 31, 2013, and the Revenue Account for the year then ended, and a summary of significant accounting policies and other explanatory information.











(a)


(b)










ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER II BALANCE SHEET AT MARCH 31, 2013

(In `)


Unit capital 1 23,507,145 17,852,934 Reserves and surplus 2 7,262,256 2,576,264 Current liabilities and provisions 3 102,873 421 Borrowings - - Total 30,872,274 20,429,619 Application of funds

Investments (long term and short term) 4 30,032,596 17,330,379 Deposits 5 - - Other current assets 6 839,678 3,099,240 Total 30,872,274 20,429,619 (a) Net asset as per Balance Sheet (Schedule 4+5+6 -3) 30,769,401 20,429,198 (b) Number of units outstanding 2,350,714 1,785,293 (c) NAV per unit (a)/(b) (`) 13.0894 11.4430









Scheme G Tier IIScheduleParticulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER II FUND REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2013

(In `)


Interest income 1,849,460 1,205,061 Dividend income - - Net profit / (loss) on sale/redemption of investments (other than inter-scheme transfer/sale) 693,597 87,206 Net profit / (loss) on inter-scheme transfer/sale of investments - - Unrealised gain on appreciation in investements 605,019 20,552 Total income (A) 3,148,076 1,312,819 Unrealised losses in value of investments 27,219 261,276 Provision for outstanding accrued income considered doubtful - - Provision for doubtful deposits and current assets - - Management fees (including service tax) [Refer Note 2.4] 5,139 145 Trusteeship/regulatory fees - - Publicity expenses - - Audit fees - - Custodian fees 1,851 1,150 Trustee bank fees 150 3,448 CRA fees 10,603 5,624 Less : Amount recovered on sale of units on account of CRA charges (10,603) (5,624) Total expenditure (B) 34,359 266,019 Net income/(expenditure) for the year (A-B) appropriated to Balance Sheet 3,113,717 1,046,800 Balance at the beginning of the year 1,555,654 508,854 Balance at the end of the year carried to Balance Sheet 4,669,371 1,555,654









Scheme G Tier IIScheduleParticulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER II Schedules forming part of the financial statements




#VALUE!


March 31, 2013 March 31, 2012 Unit premium reserveOpening balance 1,020,610 437,236 Additions during the year 2,383,114 805,594 Deduction during the year (810,839) (222,220) Closing balance 2,592,885 1,020,610




March 31, 2013 March 31, 2012 Current liabilities Sundry creditors 6,087 421 Contracts for purchase of investments - - Interest received in advance - - Unclaimed distributed income - - Unit redemption payable 96,786 - Provisions - - Total 102,873 421

Scheme G Tier II

Scheme G Tier II

ParticularsScheme G Tier II

Particulars

Particulars

ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED - SCHEME G TIER II Schedules forming part of the financial statements


March 31, 2013 March 31, 2012 Equity shares - - Preference shares - - Debentures and bonds - - Central and state government securities (including treasury bills ) 30,032,596 15,430,379 Commercial Paper - - Others - Mutual funds - 1,900,000 Total 30,032,596 17,330,379




March 31, 2013 March 31, 2012 Balances with banks in current / saving account 228,016 113,261 Cash on hand - - Sundry debtors - - Contracts for sale of investments - 2,696,316 Outstanding and accrued income 611,662 289,663 Advance, deposits etc. - - Shares/debentures/ others application money pending allotment - - Others - Dividend receivable - - Total 839,678 3,099,240

Particulars

Particulars

Particulars

Scheme G Tier II

Scheme G Tier II

Scheme G Tier II

ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier II Schedule 7


1.1 Background



The financial statements have been prepared to comply with the PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor’s report of Schemes under National Pension System) Guidelines – 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for Tier II Scheme G being managed by the Company. The Company manages six separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C and G based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities

1.3 Investments


ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier II As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, 2011. The Investment valuation methodology adopted by SHCIL is as follows:

Central Government securities are valued at the aggregated prices received from independent valuation agencies.

State Government securities with a residual maturity over 91 days are valued at the aggregated prices received from independent valuation agencies. State Government securities with a residual maturity upto 91 days are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument.



Interest income on investments is recognised on daily accrual basis. Therefore, when investments are purchased, interest paid for the period from the last interest due date upto the date of purchase is debited to Interest Recoverable Account and not included in cost of purchase. Similarly interest received at the time of sale for the period from the last interest due date upto the date of sale credited to Interest Recoverable Account and not included in sale value. Accretion of discount and amortisation of premium relating to debt securities is recognised over the holding / maturity period on a straight-line basis.

Realised gain/loss on debt securities is the difference between the sale consideration net of expenses and the weighted average amortised cost as on the date of sale.





Income on non-performing assets (NPA) shall be recognised on receipt and other incomes of miscellaneous nature shall be accounted for when there is certainty of collection.

ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier II 1.4 Units reconciliation



Investment management fees are recognised on daily accrual basis on closing Asset under management (AUM) in accordance with IMA. The Investment management fee is inclusive of brokerage but excludes custodian charges and applicable taxes, if any.

1.6 Other expenses


Notes to accounts


(In `)


2013 At March 31, 2012

Other commitments Nil Nil

2.2 Investments

All investments and deposits under the scheme are performing assets, hence no provisions for doubtful deposits, debts and for doubtful outstandings and accrued income are required to be made. All the investments of the schemes are in the name of the NPS Trust. All investments are traded investments.





Sponsor company ICICI Prudential Life Insurance Company Limited Associates and group companies Holding company of sponsor

ICICI Bank Limited


ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier II

(In `)





Limited

Purchase of investments - 10,796,316 Sale of investments - 15,478,795 Investment management fees 5,139 -


(In `)





Limited

Purchase of investments - 37,550,780 Sale of investments - 46,796,247 Investment management fees 145 -


(In `)


At March 31, 2012





Aggregate value of purchase and sale with percentage to average daily net assets is as follows:

ICICI Prudential Pension Funds Management Company Limited – Scheme G Tier II (In `)





(In `)







(In `)



Market value (In `)

% of investment

class

Market value (In `)

% of investment

class Government securities & Treasury bills

30,032,596 100.00% 15,430,379 100.00%

Government securities & Treasury bills

30,032,596 100.00% 15,430,379 100.00%

Mutual funds

-

- 1,900,000 100.00%

Mutual funds

-

- 1,900,000 100.00%

Net current assets 736,805 100.00% 3,098,819 100.00%

Net assets value 30,769,401 100.00% 20,429,198 100.00%

2.7 Statement of portfolio holding as on March 31, 2013 (In `)


Market value (In `)

Government securities 29,569,614 30,032,596 9.15% GOI (14-November-2024) 100,000 10,788,920 10,764,800

8.19% GOI 2020 (16-January-2020) 55,000 5,568,500 5,574,800

8.20% GS 2025 (24-September-2025) 35,000 3,481,110 3,534,650

8.28% GOI 2027 (21-September-2027) 35,000 3,342,500 3,531,500



Market value (In `)

8.33% GOI 2026 (9-July-2026) 27,000 2,698,360 2,754,810 8.30% Fertilizer GOI 2023 (7-December-2023)

16,000 1,541,600 1,612,880

8.33% GOI 2036 (7-June-2036) 10,000 938,700 1,016,500

8.79% GOI 2021 (8-November-2021) 7,000 712,754 732,480 9.01% West Bengal SDL (21-November-2022)

3,000 300,590 307,776

8.28% GOI 2032 (15-February-2032) 2,000 196,580 202,400

Total 29,569,614 30,032,596 Statement of portfolio holding as on March 31, 2012 (In `)


Market value (In `)

Mutual fund 1,899,814 1,900,000 IDFC Cash Fund - A Growth 1,003 1,899,814 1,900,000

Government securities 13,061,131 12,946,544 8.19% GOI 2020 (16-Jane-2020) 78,000 7,710,540 7,605,000

8.79% GOI 2021 (8-November-2021) 27,000 2,762,413 2,737,530 8.30% Fertilizer GOI 2023 (7-December-2023)

16,000 1,541,600 1,558,304

7.99% GOI 2017 (9-July-2017). 6,000 587,820 585,300

7.17% GOI 2015 (14-June-2015) 3,700 356,680 360,010

8.83% GS 2041 (12-December-2041) 1,000 102,078 100,400

Treasury bills 2,482,726 2,483,835 91 Days TBILL (27-April-2012) 25,000 2,482,726 2,483,835

Total 17,443,671 17,330,379

2.8 Key statistics


2013



Open 11.4410 10.7567

High 13.1108 11.5465

Low 11.3936 10.6450

End 13.0838 11.4410

2. Closing Assets Under Management (` in Lakhs) End 307.69 204.29



2013


2012 Average daily net assets (AAUM)II 235.62 161.21









Benchmark 28.14% 14.78%



Last 5 year NA NA


Launch Date February 8, 2010










ADDITIONAL INFORMATION

Contact Information

The ICICI Prudential Pension Funds Management Company Limited website:

www.iciciprupensionfund.com serves as an easy mode of communication for all

customers / stakeholders.

Customers / stakeholders can also contact us as follows:

Write to us:

ICICI Prudential Pension Funds Management Company Limited

ICICI Prulife Towers,

1089, Appasaheb Marathe Marg,

Prabhadevi, Mumbai- 400025

Call us:

Phone: + 91 22 40391600

Email us:

[email protected]

http://www.iciciprupensionfund.com/

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