JANUARY 2021 IN-DEPTH INVESTMENT BULLETIN OF AEGON COMPANY LTD

AEGON, toh tension gone. INDEX

Description Page No.

Enhanced Equity Fund 6

Accelerator Fund 7

Pension Enhanced Equity Fund 8

Pension Index Fund 9

Group Equity Fund 10

Blue Chip Equity Fund 11

Opportunity Fund 12

Debt Fund 14

Pension Debt Fund 15

Secure Fund 16

Pension Secure Fund 17

Conservative Fund 18

Balanced Fund 20

Pension Balanced Fund 22

Stable Fund 24

NAVPF Fund 26

Indepth | Jan 2021 | 2 Commentary on the Indian Securities Market for December 2020

Nifty (up 7.8%) continued its upmove and gave positive return for the third consecutive month driven by strong FII flows, positive news on vaccination front with more vaccines being approved and pickup in economic activity with covid cases coming down in the coun- try. Nifty 50 has given a return of 14.9% for CY2020, the best in last three years.

The dollar index continued to depreciate and breached the 90 level for the first time since April 2018. The rupee appreciated by a percent to close at 73.30 levels.

Dollar weakness led to commodity price upmove with Brent crude (up 8.85%) breaching the $50 mark for the first time since March of this year. Gold was also up 6.6% for the month to close at $1894.

Foreign institutional investors (FIIs) investment continued to be strong in December with inflow of $8.4 bn. With this FIIs have invested $23 bn in CY20.

Domestic institutional investors (DIIs) continued to be net sellers as outflows in Equity mutual funds was the highest ever in November.

Consumer price Index (CPI) in November moderated to 6.93% from 7.61% in the previous month, with food price inflation cooling off to 9.43% from 11%.

On the economic front Index of Industrial Production (IIP) contracted by 2.6% in November while the revised numbers for August and October were upgraded.

GST collections continued to improve with December GST collections up 12% YoY to its highest ever monthly collections if 1.15 lakh crores.

In January, markets will react to quarterly results and progress of new strain of covid and vaccination in India and across the world.

Bond markets turned slightly volatile as markets remained nervous about RBI’s absence

Indepth | Jan 2021 | 3 from Open Market Operations (OMOs) in the first half of the month. A new 10 year benchmark bond was issued at 5.85% which rose to about 5.92% but retreated and ended the month at 5.87% as RBI returned with outright SDL OMOs along with the simultaneous open market purchase & sale operations which are aimed at targeting the steepness in the yield curve. Markets will remain hopeful of regular RBI operations and observe the incoming Nifty (up 7.8%) continued its upmove and gave positive return for the third consecutive inflation trend while the next major trigger remains the Union Budget. month driven by strong FII flows, positive news on vaccination front with more vaccines being approved and pickup in economic activity with covid cases coming down in the coun- try. Nifty 50 has given a return of 14.9% for CY2020, the best in last three years.

The dollar index continued to depreciate and breached the 90 level for the first time since April 2018. The rupee appreciated by a percent to close at 73.30 levels.

Dollar weakness led to commodity price upmove with Brent crude (up 8.85%) breaching the $50 mark for the first time since March of this year. Gold was also up 6.6% for the month to close at $1894.

Foreign institutional investors (FIIs) investment continued to be strong in December with inflow of $8.4 bn. With this FIIs have invested $23 bn in CY20.

Domestic institutional investors (DIIs) continued to be net sellers as outflows in Equity mutual funds was the highest ever in November.

Consumer price Index (CPI) in November moderated to 6.93% from 7.61% in the previous month, with food price inflation cooling off to 9.43% from 11%.

On the economic front Index of Industrial Production (IIP) contracted by 2.6% in November while the revised numbers for August and October were upgraded.

GST collections continued to improve with December GST collections up 12% YoY to its highest ever monthly collections if 1.15 lakh crores.

In January, markets will react to quarterly results and progress of new strain of covid and vaccination in India and across the world.

Bond markets turned slightly volatile as markets remained nervous about RBI’s absence

Indepth | Jan 2021 | 4 FUND MANAGEMENT TEAM

FUND MANAGER

Avinash Agarwal

Qualification : MBA (IIM-L) Experience : 15 years Number of funds : 10

Lovelesh Manocha

Qualification : B.E (Chemical), PGDM (IIML) Experience : 12 years Number of funds : 1

Karan Jhaveri

Qualification : Chartered Accountant, Chartered Financial Analyst (CFA Institute, USA) Experience : 5 years Number of funds : 9

Indepth | Jan 2021 | 5 ENHANCED EQUITY FUND SFIN: ULIF00105/07/08EEF0138 Inception Date 24 - 7 - 2008

Fund Manager : Avinash Agarwal Investment Objective : This fund will aim to invest in a well-diversified portfolio of equity instruments, and generate attractive returns in the long term. NAV : 33.2013 AUM : 100.34 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.27 LIMITED 1.29 LIMITED 8.69 LIMITED 1.16 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.27 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.10 HDFC LIMITED 5.75 LIMITED 1.00 LIMITED 5.20 LIMITED 0.99 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.73 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 0.99 SBI-ETF NIFTY BANK 4.72 CORPORATION LIMITED 0.97 ICICI BANK LIMITED 4.37 LIMITED 0.95 LIMITED 3.82 MAHINDRA & MAHINDRA LIMITED 0.88 ITC LIMITED 3.59 THE LIMITED 0.81 HCL TECHNOLOGIES LIMITED 3.11 LIMITED 0.81 LARSEN & TOUBRO LIMITED 2.99 ULTRATECH CEMENT LIMITED 0.77 DR REDDYS LABORATORIES LIMITED 2.87 LIMITED 0.71 TATA CONSULTANCY SERVICES LIMITED 2.71 STATE 0.69 LIMITED 2.50 HERO MOTOCORP LIMITED 0.69 LIMITED 2.17 LIMITED 0.51 NESTLE INDIA LIMITED 2.12 NTPC LIMITED 0.42 SBI LIFE INSURANCE COMPANY LIMITED 1.84 HONEYWELL AUTOMATION INDIA LIMITED 0.30 LIMITED 1.56 HDFC LIFE INSURANCE COMPANY LIMITED 1.48 DIVIS LABORATORIES LIMITED 1.34

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.38 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.98 INFRASTRUCTURE 15.47 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.67 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.51 MANUFACTURE OF BEVERAGES 1.00 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.76 MANUFACTURE OF ELECTRICAL EQUIPMENTS 0.99 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.20 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.88 MANUFACTURE OF TOBACCO PRODUCTS 3.59 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.77 CIVIL ENGINEERING 2.99 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF BASIC METALS 2.37 EQUIPMENTS 0.71 MANUFACTURE OF FOOD PRODUCTS 2.12 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.30

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.40% 7.81% EQUITIES 75% TO 100% 97.16% Return 6 Month 30.83% 35.72% FIXED INCOME SECURITIES 0 % TO 25% 2.84% Returns 1 Year 12.41% 14.90% MONEY MARKET INSTRUMENT Returns 2 Year 10.71% 13.41%

Returns 3 Year 7.64% 9.89%

Inception 10.12% 9.66%

Indepth | Jan 2021 | 6 ACCELERATOR FUND SFIN: ULIF01203/09/10ACCELERATE0138 Inception Date 16 - 9 - 2010

Fund Manager : Lovelesh Manocha Investment Objective : This fund will aim at investing in equities of various sectors, to diversify the portfolio and to generate attractive returns in long term. This fund will also have the flexibility to invest in fixed interest assets and money market instruments up to 20%. NAV : 23.4481 AUM : 197.58 Cr Benchmark : S&P BSE 100

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.58 LIMITED 0.63 INFOSYS LIMITED 8.06 INDUSIND BANK LIMITED 0.58 HDFC BANK LIMITED 5.82 GLAXOSMITHKLINE PHARMACEUTICALS LIMITED 0.58 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.52 LIMITED 0.50 HINDUSTAN UNILEVER LIMITED 5.24 LIMITED 0.49 BHARTI AIRTEL LIMITED 4.87 LIMITED 0.47 SBI-ETF NIFTY BANK 4.17 HCL TECHNOLOGIES LIMITED 4.05 ICICI BANK LIMITED 3.92 DR REDDYS LABORATORIES LIMITED 3.85 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 3.35 INDUSTRY % of AUM ITC LIMITED 2.79 CIPLA LIMITED 2.70 FINANCIAL AND INSURANCE ACTIVITIES 24.60 KOTAK MAHINDRA BANK LIMITED 2.12 HDFC LIFE INSURANCE COMPANY LIMITED 2.05 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.42 ALEMBIC PHARMACEUTICALS LIMITED 1.82 INFRASTRUCTURE 14.19 TATA CONSULTANCY SERVICES LIMITED 1.69 DIVIS LABORATORIES LIMITED 1.68 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 11.56 NESTLE INDIA LIMITED 1.60 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.68 HINDALCO INDUSTRIES LIMITED 1.56 MANUFACTURE OF TOBACCO PRODUCTS 2.79 THE FEDERAL BANK LIMITED 1.55 VARUN BEVERAGES LIMITED 1.48 MANUFACTURE OF BASIC METALS 2.54 HONEYWELL AUTOMATION INDIA LIMITED 1.46 MANUFACTURE OF FOOD PRODUCTS 2.09 LIMITED 1.42 MAHINDRA & MAHINDRA LIMITED 1.11 MANUFACTURE OF BEVERAGES 1.48 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 1.03 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.46 SBI LIFE INSURANCE COMPANY LIMITED 1.01 TATA STEEL LIMITED 0.98 OTHER MANUFACTURING 1.42 BHARAT FORGE LIMITED 0.96 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.11 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 0.94 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.94 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & LIMITED 0.90 EQUIPMENTS 0.96 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 0.80 SCIENTIFIC RESEARCH AND DEVELOPMENT 0.90 ASHOK LEYLAND LIMITED 0.79 LIMITED 0.79 MANUFACTURE OF ELECTRICAL EQUIPMENTS 0.80 HDFC ASSET MANAGEMENT COMPANY LIMITED 0.77 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.79 INDRAPRASTHA GAS LIMITED 0.74 BAJAJ AUTO LIMITED 0.70 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.70 ULTRATECH CEMENT LIMITED 0.66 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.66

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.32% 8.04%

EQUITIES 80% – 100% 97.69% Return 6 Month 32.37% 35.44%

Returns 1 Year 18.19% 15.24%

FIXED INCOME SECURITIES Returns 2 Year 14.32% 12.36%

0% TO 20% 2.31% Returns 3 Year 9.53% 8.52% MONEY MARKET INSTRUMENT Inception 8.66% 8.65%

Indepth | Jan 2021 | 7 PENSION ENHANCED EQUITY FUND SFIN: ULIF00605/01/09PEEQUITY0138 Inception Date 19 - 1 - 2009

Fund Manager : Avinash Agarwal Investment Objective : This fund will aim to invest in a well-diversified portfolio of equity instruments, and generate attractive returns in the long term. NAV : 53.1573 AUM : 14.42 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.15 TATA MOTORS LIMITED 1.15 INFOSYS LIMITED 8.57 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.08 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.43 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.00 HDFC BANK LIMITED 5.69 INDRAPRASTHA GAS LIMITED 0.99 HINDUSTAN UNILEVER LIMITED 5.15 VARUN BEVERAGES LIMITED 0.98 SBI-ETF NIFTY BANK 4.63 BHARAT PETROLEUM CORPORATION LIMITED 0.94 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.62 ALEMBIC PHARMACEUTICALS LIMITED 0.92 ICICI BANK LIMITED 4.33 MAHINDRA & MAHINDRA LIMITED 0.87 BHARTI AIRTEL LIMITED 3.77 THE FEDERAL BANK LIMITED 0.80 ITC LIMITED 3.54 TATA STEEL LIMITED 0.79 HCL TECHNOLOGIES LIMITED 3.05 ULTRATECH CEMENT LIMITED 0.74 LARSEN & TOUBRO LIMITED 2.95 BHARAT FORGE LIMITED 0.71 DR REDDYS LABORATORIES LIMITED 2.82 0.69 TATA CONSULTANCY SERVICES LIMITED 2.67 HERO MOTOCORP LIMITED 0.68 CIPLA LIMITED 2.48 ASHOK LEYLAND LIMITED 0.52 KOTAK MAHINDRA BANK LIMITED 2.15 NTPC LIMITED 0.40 NESTLE INDIA LIMITED 2.09 HONEYWELL AUTOMATION INDIA LIMITED 0.31 SBI LIFE INSURANCE COMPANY LIMITED 1.82 HINDALCO INDUSTRIES LIMITED 1.54 HDFC LIFE INSURANCE COMPANY LIMITED 1.46 DIVIS LABORATORIES LIMITED 1.37 BAJAJ AUTO LIMITED 1.26

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.37 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.94 INFRASTRUCTURE 15.25 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.67 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.30 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.00 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.67 MANUFACTURE OF BEVERAGES 0.98 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.15 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.87 MANUFACTURE OF TOBACCO PRODUCTS 3.54 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.74 CIVIL ENGINEERING 2.95 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF BASIC METALS 2.33 EQUIPMENTS 0.71 MANUFACTURE OF FOOD PRODUCTS 2.09 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.31

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.45% 7.81% EQUITIES 75% - 100% 96.12% Return 6 Month 30.87% 35.72%

FIXED INCOME Returns 1 Year 12.81% 14.90% SECURITIES 0% TO 25% 3.88% Returns 2 Year 10.82% 13.41% MONEY MARKET INSTRUMENT Returns 3 Year 7.83% 9.89%

Inception 14.99% 14.24%

Indepth | Jan 2021 | 8 PENSION INDEX FUND SFIN: ULIF01005/01/09PINDEX0138 Inception Date 22 - 1 - 2009

Fund Manager : Avinash Agarwal Investment Objective : This fund aims at investing in equities, but does not take stock-specific risks. Replicating the market performance at low cost. The fund is indexed to Nifty 50. NAV : 50.6204 AUM : 8.79 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 10.44 INDUSIND BANK LIMITED 0.84 HDFC BANK LIMITED 10.16 DIVIS LABORATORIES LIMITED 0.81 INFOSYS LIMITED 7.48 TATA STEEL LIMITED 0.80 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.46 POWER GRID CORPORATION OF INDIA LIMITED 0.79 ICICI BANK LIMITED 6.00 NTPC LIMITED 0.78 TATA CONSULTANCY SERVICES LIMITED 4.89 BAJAJ AUTO LIMITED 0.75 KOTAK MAHINDRA BANK LIMITED 4.75 LIMITED 0.70 HINDUSTAN UNILEVER LIMITED 3.48 CIPLA LIMITED 0.70 ITC LIMITED 2.97 HERO MOTOCORP LIMITED 0.68 LARSEN & TOUBRO LIMITED 2.58 JSW STEEL LIMITED 0.62 AXIS BANK LIMITED 2.52 LIMITED 0.61 LIMITED 2.31 LIMITED 0.59 LIMITED 2.03 HINDALCO INDUSTRIES LIMITED 0.59 BHARTI AIRTEL LIMITED 2.01 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.58 STATE BANK OF INDIA 1.73 SBI LIFE INSURANCE COMPANY LIMITED 0.57 HCL TECHNOLOGIES LIMITED 1.67 OIL & NATURAL GAS CORPORATION LIMITED 0.57 INDIA LIMITED 1.65 TATA MOTORS LIMITED 0.56 MAHINDRA & MAHINDRA LIMITED 1.14 LIMITED 0.52 NESTLE INDIA LIMITED 1.09 BHARAT PETROLEUM CORPORATION LIMITED 0.51 TITAN COMPANY LIMITED 1.08 LIMITED 0.47 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.06 UPL LIMITED 0.42 DR REDDYS LABORATORIES LIMITED 1.05 LIMITED 0.39 ULTRATECH CEMENT LIMITED 1.01 GAIL (INDIA) LIMITED 0.38 LIMITED 1.00 LIMITED 0.06 WIPRO LIMITED 0.94 LIMITED 0.90 HDFC LIFE INSURANCE COMPANY LIMITED 0.89

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 38.19 MANUFACTURE OF FOOD PRODUCTS 1.79 INFRASTRUCTURE 16.46 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.53 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 15.99 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.43 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.93 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.14 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.61 OTHER MANUFACTURING 1.08 MANUFACTURE OF TOBACCO PRODUCTS 2.97 MANUFACTURE OF TEXTILES 0.61 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.80 MINING OF COAL AND LIGNITE 0.47 CIVIL ENGINEERING 2.58 MANUFACTURE OF BASIC METALS 2.02

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.61% 7.81% EQUITIES 98% - 100% 98.61% Return 6 Month 35.13% 35.72%

FIXED INCOME Returns 1 Year 14.35% 14.90% SECURITIES 0% TO 2% 1.39% Returns 2 Year 13.04% 13.41% MONEY MARKET INSTRUMENT Returns 3 Year 9.63% 9.89%

Inception 14.52% 14.70%

Indepth | Jan 2021 | 9 GROUP EQUITY FUND SFIN: ULGF00228/03/11GEQUITY0138 Inception Date 28 - 3 - 2011

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 27.1776 AUM : 15.03 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.90 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.22 INFOSYS LIMITED 8.75 TATA MOTORS LIMITED 1.16 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.10 SBI LIFE INSURANCE COMPANY LIMITED 1.10 HINDUSTAN UNILEVER LIMITED 5.81 BHARAT PETROLEUM CORPORATION LIMITED 1.10 HDFC BANK LIMITED 5.74 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.01 BHARTI AIRTEL LIMITED 4.73 INDRAPRASTHA GAS LIMITED 0.99 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.28 MAHINDRA & MAHINDRA LIMITED 0.99 ICICI BANK LIMITED 3.86 VARUN BEVERAGES LIMITED 0.98 ITC LIMITED 3.57 ALEMBIC PHARMACEUTICALS LIMITED 0.88 SBI-ETF NIFTY BANK 3.13 THE FEDERAL BANK LIMITED 0.81 LARSEN & TOUBRO LIMITED 3.00 TATA STEEL LIMITED 0.80 KOTAK MAHINDRA BANK LIMITED 2.97 ULTRATECH CEMENT LIMITED 0.78 TATA CONSULTANCY SERVICES LIMITED 2.86 HERO MOTOCORP LIMITED 0.77 DR REDDYS LABORATORIES LIMITED 2.86 BHARAT FORGE LIMITED 0.71 HCL TECHNOLOGIES LIMITED 2.78 STATE BANK OF INDIA 0.66 CIPLA LIMITED 2.51 NTPC LIMITED 0.58 NESTLE INDIA LIMITED 2.40 ASHOK LEYLAND LIMITED 0.52 HDFC LIFE INSURANCE COMPANY LIMITED 1.64 HONEYWELL AUTOMATION INDIA LIMITED 0.30 HINDALCO INDUSTRIES LIMITED 1.55 BAJAJ AUTO LIMITED 1.42 DIVIS LABORATORIES LIMITED 1.32

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.88 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.68 INFRASTRUCTURE 16.29 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.01 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.39 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.99 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.79 MANUFACTURE OF BEVERAGES 0.98 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.81 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.78 MANUFACTURE OF TOBACCO PRODUCTS 3.57 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & CIVIL ENGINEERING 3.00 EQUIPMENTS 0.71 MANUFACTURE OF FOOD PRODUCTS 2.40 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.30 MANUFACTURE OF BASIC METALS 2.34 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 2.19

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.29% 7.81%

EQUITIES 80% TO 100% 96.5% Return 6 Month 31.10% 35.72%

Returns 1 Year 13.43% 14.90% FIXED INCOME SECURITIES Returns 2 Year 11.14% 13.41%

0 % – 20% 3.5% Returns 3 Year 8.38% 9.89% MONEY MARKET INSTRUMENT Inception 10.77% 9.64%

Indepth | Jan 2021 | 10 BLUE CHIP EQUITY FUND ULIF01511/02/14BLUECHIPEQ0138 Inception Date 22 - 12 - 2014

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 16.0442 AUM : 151.55 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.16 BAJAJ AUTO LIMITED 1.26 INFOSYS LIMITED 8.57 TATA MOTORS LIMITED 1.15 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.43 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.08 HDFC BANK LIMITED 5.68 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.00 HINDUSTAN UNILEVER LIMITED 5.14 INDRAPRASTHA GAS LIMITED 0.99 SBI-ETF NIFTY BANK 4.64 VARUN BEVERAGES LIMITED 0.98 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.59 BHARAT PETROLEUM CORPORATION LIMITED 0.94 ICICI BANK LIMITED 4.33 ALEMBIC PHARMACEUTICALS LIMITED 0.93 BHARTI AIRTEL LIMITED 3.78 MAHINDRA & MAHINDRA LIMITED 0.87 ITC LIMITED 3.53 THE FEDERAL BANK LIMITED 0.80 HCL TECHNOLOGIES LIMITED 3.04 TATA STEEL LIMITED 0.80 LARSEN & TOUBRO LIMITED 2.95 ULTRATECH CEMENT LIMITED 0.75 DR REDDYS LABORATORIES LIMITED 2.81 BHARAT FORGE LIMITED 0.71 TATA CONSULTANCY SERVICES LIMITED 2.67 STATE BANK OF INDIA 0.69 CIPLA LIMITED 2.48 HERO MOTOCORP LIMITED 0.68 KOTAK MAHINDRA BANK LIMITED 2.16 ASHOK LEYLAND LIMITED 0.52 NESTLE INDIA LIMITED 2.09 NTPC LIMITED 0.41 SBI LIFE INSURANCE COMPANY LIMITED 1.82 HONEYWELL AUTOMATION INDIA LIMITED 0.29 HINDALCO INDUSTRIES LIMITED 1.54 HDFC LIFE INSURANCE COMPANY LIMITED 1.46 DIVIS LABORATORIES LIMITED 1.36

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.37 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.67 INFRASTRUCTURE 15.27 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.00 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.28 MANUFACTURE OF BEVERAGES 0.98 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.65 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.87 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.14 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.75 MANUFACTURE OF TOBACCO PRODUCTS 3.53 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & CIVIL ENGINEERING 2.95 EQUIPMENTS 0.71 MANUFACTURE OF BASIC METALS 2.34 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.29 MANUFACTURE OF FOOD PRODUCTS 2.09 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.94

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.41% 7.81%

EQUITIES 80% – 100% 96.08 % Return 6 Month 30.75% 35.72%

Returns 1 Year 12.23% 14.90% FIXED INCOME SECURITIES 0% - Returns 2 Year 10.44% 13.41%

Returns 3 Year 7.37% 9.89% MONEY MARKET 0 % – 20% 3.92 % INSTRUMENT Inception 8.15% 8.98%

Indepth | Jan 2021 | 11 OPPORTUNITY FUND ULIF01627/06/16OPPORTUN0138 Inception Date 27 - 02 - 2017

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 14.9707 AUM : 134.53 Cr Benchmark : NIFTY MIDCAP 100 INDUSTRY % of AUM

NAME % of AUM EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 3.61 WESTLIFE DEVELOPMENT LTD 1.24 ALEMBIC PHARMACEUTICALS LIMITED 3.53 RBL BANK LIMITED 1.24 MAX LIMITED 3.48 LIMITED 1.21 LIMITED 3.26 GLAXOSMITHKLINE PHARMACEUTICALS LIMITED 1.21 THE FEDERAL BANK LIMITED 2.97 MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED 1.20 VARUN BEVERAGES LIMITED 2.93 BHARTI AIRTEL LIMITED 1.13 LIMITED 2.60 SBI LIFE INSURANCE COMPANY LIMITED 1.11 SRF LIMITED 2.49 PI INDUSTRIES LIMITED 1.09 LIMITED 2.45 HDFC ASSET MANAGEMENT COMPANY LIMITED 1.04 CITY UNION BANK LIMITED 2.41 LIMITED 1.00 GODREJ PROPERTIES LIMITED 2.17 GRAPHITE INDIA LIMITED 0.99 BHARAT FORGE LIMITED 2.11 INDRAPRASTHA GAS LIMITED 0.99 L&T TECHNOLOGY SERVICES LIMITED 2.10 LIMITED 0.98 ASHOK LEYLAND LIMITED 2.04 LIMITED 0.98 LIMITED 2.04 V-GUARD INDUSTRIES LIMITED 0.94 JINDAL STEEL & POWER LIMITED 2.02 LIMITED 0.92 LIMITED 1.98 THE LIMITED 0.91 BAYER CROPSCIENCE LIMITED 1.94 AMARA RAJA BATTERIES LIMITED 0.88 SYNGENE INTERNATIONAL LIMITED 1.75 LIMITED 0.85 COROMANDEL INTERNATIONAL LIMITED 1.74 JUBILANT FOODWORKS LIMITED 0.83 ENDURANCE TECHNOLOGIES LIMITED 1.72 LIMITED 0.83 AARTI INDUSTRIES LIMITED 1.69 LIMITED 0.82 HCL TECHNOLOGIES LIMITED 1.69 DHANUKA AGRITECH LIMITED 0.72 CREDITACCESS GRAMEEN LIMITED 1.69 TUBE INVESTMENTS OF INDIA LIMITED 0.72 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED 1.67 LIMITED 0.68 DCB BANK LIMITED 1.65 RALLIS INDIA LIMITED 0.63 LIMITED 1.57 ADITYA BIRLA FASHION AND RETAIL LIMITED 0.62 LIMITED 1.52 LIMITED 0.61 ENTERPRISE LIMITED 1.51 WHIRLPOOL OF INDIA LIMITED 0.59 DR REDDYS LABORATORIES LIMITED 1.39 GUJARAT STATE PETRONET LIMITED 0.53 LIMITED 1.33 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA LIMITED 0.41 POLYCAB INDIA LIMITED 1.33 ADITYA BIRLA FASHION AND RETAIL LIMITED (RIGHT APPLICATION) 0.05 LIMITED 1.32 ADITYA BIRLA FASHION AND RETAIL LIMITED (UNCALLED APPLICATION SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.28 MONEY) 0.02

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 19.31 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.90 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 12.90 MANUFACTURE OF FOOD PRODUCTS 1.83 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 10.98 SCIENTIFIC RESEARCH AND DEVELOPMENT 1.75 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 10.65 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.67 MANUFACTURE OF ELECTRICAL EQUIPMENTS 7.34 MANUFACTURE OF RUBBER AND PLASTICS PRODUCTS 1.52 INFRASTRUCTURE 6.56 FOOD & BEVERAGE SERVICE ACTIVITIES 1.24 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.77 REAL ESTATE ACTIVITIES 1.21 MANUFACTURE OF BEVERAGES 2.93 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.72 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 2.86 MANUFACTURE OF WEARING APPAREL 0.68 MANUFACTURE OF BASIC METALS 2.85 CONSTRUCTION OF BUILDINGS 2.17 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & EQUIPMENTS 2.11 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.98

Indepth | Jan 2021 | 12 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 6.01% 5.72%

EQUITIES 80% – 100% 98.93% Return 6 Month 37.76% 41.75%

Returns 1 Year 26.06% 21.87% FIXED INCOME 0% - SECURITIES Returns 2 Year 13.61% 7.96%

MONEY MARKET 0% TO 20% 1.07% Returns 3 Year 6.65% -0.46% INSTRUMENT Inception 11.06% 6.47%

Indepth | Jan 2021 | 13 DEBT FUND SFIN: ULIF00405/07/08DB0138 Inception Date 20 - 8 - 2008

Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to generate attractive returns by investing in a diversified portfolio of government debt, corporate debt, money market instruments and other fixed income securities of varying maturities. NAV : 30.3627 AUM : 145.34 Cr Portfolio Duration : 6.13 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 47.23 0 - 5 YEARS 34.27 SOVEREIGN 47.23 AAA 41.85 5 - 10 YEARS 28.98 FINANCIAL AND INSURANCEA CTIVITIES 20.80 CASH & CASH EQUIVALENTS 10.92 MORE THAN 10 YEARS 36.75 INFRASTRUCTURE 15.37 Total 100.00 Total 100.00 HOUSING SECTOR 5.68 OTHERS 10.92 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 7.48 7.90% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 6.45% GSEC MD 07/10/2029 6.82 MD.24/08/2026 2.24 6.67% GSEC MD 17/12/2050 6.67 7.72% GSEC MD 15/06/2049 1.82 6.80% GSEC MD 15/12/2060 6.49 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.56 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 6.21 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 04/05/2030 1.27 5.77% GSEC MD 03/08/2030 5.78 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 0.88 6.18% GSEC MD 04/11/2024 5.56 7.62% GSEC MD 15/09/2039 0.85 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.80 6.79% GSEC MD 15/05/2027 0.81 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.76 7.10% STATE GOVT OF GUJARAT MD 05/02/2030 0.72 10.21% NCD BAJAJ FINANCE LTD. MD 22/08/2022 3.76 7.17% GSEC MD 08/01/2028 0.71 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD MD 6.61% STATE GOVT OF KARNATAKA MD 14/10/2030 0.69 17/06/2030 3.44 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 0.38 6.97% KARNATAKA SDL MD 30/09/2031 3.42 7.72% GSEC MD 26/102055 0.32 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.40 9.45% NCD POWER FINANCE CORPORATION LTD. MD 01/09/2026 0.24 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.35 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.07 5.22% GSEC MD 15/06/2025 3.33 9.23% GSEC MD 23/12/2043 0.03 6.19% GSEC MD 16/09/2034 3.22

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark Return 1 Month 0.35% 0.39%

EQUITIES 0% - Return 6 Month 3.13% 4.01%

Returns 1 Year 11.38% 12.29% FIXED INCOME 60% - 100% 89.08% SECURITIES Returns 2 Year 10.99% 11.47%

Returns 3 Year 9.02% 9.59% MONEY MARKET 0% – 40% 10.92% INSTRUMENT Inception 9.38% 8.59%

Indepth | Jan 2021 | 14 PENSION DEBT FUND SFIN: ULIF00805/01/09PDEBT0138 Inception Date 20 - 1 - 2009

Fund Manager : Karan Jhaveri Investment Objective : This fund aims at generating attractive investment income by taking interest rate views and investing in a diversified portfolio of government debt, corporate debt and money market instruments of varying maturities. NAV : 24.3351 AUM : 6.73 Cr Portfolio Duration : 6.07 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 45.16 0 - 5 YEARS 38.47 SOVEREIGN 45.16 AAA 43.19 5 - 10 YEARS 26.56 FINANCIAL AND INSURANCE ACTIVITIES 22.20 CASH & CASH EQUIVALENTS 11.65 MORE THAN 10 YEARS 34.97 INFRASTRUCTURE 17.89 Total 100.00 Total 100.00 HOUSING 3.10 OTHERS 11.65 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 8.50 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 6.67% GSEC MD 17/12/2050 7.57 MD 17/06/2030 3.10 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 6.89 6.97% KARNATAKA SDL MD 30/09/2031 3.08 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 6.81 7.72% GSEC MD 15/06/2049 3.07 6.80% GSEC MD 15/12/2060 6.16 5.22% GSEC MD 15/06/2025 2.99 6.45% GSEC MD 07/10/2029 6.14 5.77% GSEC MD 03/08/2030 2.95 6.18% GSEC MD 04/11/2024 4.68 9.30% NCD POWER GRID CORPORATION MD 28/06/2027 2.17 6.19% GSEC MD 16/09/2034 4.44 7.62% GSEC MD 15/09/2039 1.67 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 4.12 6.79% GSEC MD 15/05/2027 1.62 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.42 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.53 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.39 7.17% GSEC MD 08/01/2028 0.80 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.27

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.39% 0.39%

EQUITIES 0% - Return 6 Month 3.15% 4.01%

Returns 1 Year 11.41% 12.29% FIXED INCOME SECURITIES Returns 2 Year 10.98% 11.47%

100% 100% Returns 3 Year 8.86% 9.59% MONEY MARKET INSTRUMENT Inception 7.71% 8.12%

Indepth | Jan 2021 | 15 SECURE FUND SFIN: ULIF00505/07/08SF0138 Inception Date 5 - 9 - 2008

Fund Manager : Karan Jhaveri Investment Objective : This fund aims at investing in a diversified portfolio of debt and money market instruments of short to medium term maturities. The main objective will be to generate investment income with very low volatility risk since asset durations would be reasonably small. NAV : 22.0371 AUM : 37.33 Cr Portfolio Duration : 1.20 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 67.14 MORE THAN 6 MONTHS 78.98 SOVEREIGN 67.14 AAA 22.76 LESS THAN 6 MONTHS 21.02 FINANCIAL AND INSURANCE ACTIVITIES A1+ 0.65 Total 100.00 14.33 INFRASTRUCTURE 8.91 CASH & CASH EQUIVALENTS 9.44 OTHERS 9.62 Total 100.00 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.17% GSEC MD 15/07/2021 25.36 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 4.90 8.54% STATE GOVT OF MAHARASHTRA MD 19/01/2021 13.43 364 DAYS TREASURY BILL MD 22/07/2021 2.10 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 12.21 7.68% GSEC MD 15/12/2023 1.46 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 8.91 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.65 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 8.47 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 0.31 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 7.53 8% NCD BRITANNIA INDUSTRIES LTD. MD 28/08/2022 0.17 364 DAYS TREASURY BILL MD 16/12/2021 5.06

ASSETASSET ALLOCATION ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.17% 0.30%

EQUITIES 0% - Return 6 Month 2.07% 1.91%

Returns 1 Year 7.35% 4.61% FIXED INCOME 60% -100% 89.90% SECURITIES Returns 2 Year 6.72% 5.73%

Returns 3 Year 3.48% 6.33% MONEY MARKET 0% – 40% 10.10% INSTRUMENT Inception 6.62% 7.26%

Indepth | Jan 2021 | 16 PENSION SECURE FUND SFIN: ULIF00905/01/09PSECURE0138 Inception Date 20 - 01 - 2009

Fund Manager : Karan Jhaveri Investment Objective : This fund aims at investing in a diversified portfolio of debt and money market instruments of short to medium term maturities. The main objective will be to generate investment income with very low volatility risk since asset durations would be reasonably small. NAV : 22.5580 AUM : 1.56 Cr Portfolio Duration : 1.14 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 79.58 MORE THAN 6 MONTHS 88.40 SOVEREIGN 79.58 AAA 7.04 LESS THAN 6 MONTHS 11.60 HOUSING SECTOR 7.04 13.38 CASH & CASH EQUIVALENTS 13.38 Total 100.00 OTHERS TOTAL 100.00 Total 100.00

DEBT HOLDINDS % of AUM

6.17% GSEC MD 15/07/2021 42.22 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 20.84 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 13.43 7.99% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 11/07/2024 7.04 364 DAYS TREASURY BILL MD 16/12/2021 3.10

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.25% 0.30%

EQUITIES 0% - Return 6 Month 2.37% 1.91%

Returns 1 Year 7.05% 4.61% FIXED INCOME SECURITIES Returns 2 Year 6.03% 5.73%

100% 100% Returns 3 Year 5.84% 6.33% MONEY MARKET INSTRUMENT Inception 6.97% 7.16%

Indepth | Jan 2021 | 17 CONSERVATIVE FUND SFIN: ULIF00310/07/08CONSERVATE0138 Inception Date 31 - 7 - 2009

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : The aim of this fund is to invest not only into secured instruments but also to invest into equities, to ensure attractive returns. This fund will primarily invest into government debt, corporate debt and money market instruments. NAV : 26.8286 AUM : 0.37 Cr Portfolio Duration : 4.38 Benchmark : CRISIL COMPOSITE BOND FUND (80%) + Large-cap Equity Index(20%)

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 68.31 0 - 5 YEARS 7.94 SOVEREIGN 68.31 CASH & CASH EQUIVALENTS 31.69 5 - 10 YEARS 59.94 OTHERS 31.69 Total 100.00 MORE THAN 10 YEARS 32.12 Total 100.00 Total 100.00

EQUITY HOLDINDS % of AUM EQUITY HOLDINDS % of AUM

HDFC BANK LIMITED 2.25 BRITANNIA INDUSTRIES LIMITED 0.20 RELIANCE INDUSTRIES LIMITED 2.22 TITAN COMPANY LIMITED 0.19 INFOSYS LIMITED 1.45 BAJAJ AUTO LIMITED 0.17 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.42 HERO MOTOCORP LIMITED 0.17 ICICI BANK LIMITED 1.17 INDUSIND BANK LIMITED 0.16 TATA CONSULTANCY SERVICES LIMITED 1.03 POWER GRID CORPORATION OF INDIA LIMITED 0.16 KOTAK MAHINDRA BANK LIMITED 0.99 TATA STEEL LIMITED 0.16 HINDUSTAN UNILEVER LIMITED 0.70 CIPLA LIMITED 0.14 ITC LIMITED 0.60 JSW STEEL LIMITED 0.13 AXIS BANK LIMITED 0.51 HINDALCO INDUSTRIES LIMITED 0.12 LARSEN & TOUBRO LIMITED 0.49 TATA MOTORS LIMITED 0.12 BAJAJ FINANCE LIMITED 0.40 GRASIM INDUSTRIES LIMITED 0.12 BHARTI AIRTEL LIMITED 0.39 NTPC LIMITED 0.12 MARUTI SUZUKI INDIA LIMITED 0.39 BHARAT PETROLEUM CORPORATION LIMITED 0.11 ASIAN PAINTS LIMITED 0.36 HDFC LIFE INSURANCE COMPANY LIMITED 0.09 STATE BANK OF INDIA 0.33 OIL & NATURAL GAS CORPORATION LIMITED 0.08 HCL TECHNOLOGIES LIMITED 0.32 UPL LIMITED 0.08 DR REDDYS LABORATORIES LIMITED 0.26 GAIL (INDIA) LIMITED 0.07 ULTRATECH CEMENT LIMITED 0.26 INDIAN OIL CORPORATION LIMITED 0.06 MAHINDRA & MAHINDRA LIMITED 0.26 COAL INDIA LIMITED 0.06 BAJAJ FINSERV LIMITED 0.24 SBI LIFE INSURANCE COMPANY LIMITED 0.05 TECH MAHINDRA LIMITED 0.22 YES BANK LIMITED 0.01 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.21 WIPRO LIMITED 0.20

DEBT HOLDINGS % of AUM

7.17% GSEC MD 08/01/2028 23.16 8.15% GSEC MD 24/11/2026 15.14 7.40% GSEC MD 09/09/2035 14.73 7.72% GSEC MD 15/06/2049 6.16 6.17% GSEC MD 15/07/2021 5.43 5.77% GSEC MD 03/08/2030 2.65 9.23% GSEC MD 23/12/2043 1.05

Indepth | Jan 2021 | 18 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 7.32 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 3.17 INFRASTRUCTURE 3.08 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 1.17 MANUFACTURE OF TOBACCO PRODUCTS 0.63 CIVIL ENGINEERING 0.55 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.53 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 0.53 MANUFACTURE OF BASIC METALS 0.45 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.35 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.25 OTHER MANUFACTURING 0.21 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.14 MANUFACTURE OF TEXTILES 0.12 MANUFACTURE OF FOOD PRODUCTS 0.10 MINING OF COAL AND LIGNITE 0.07 SOVEREIGN 68.31

ASSET ALLOCATION PERFORMANCE

Period Fund Benchmark F&U ACTUAL Return 1 Month 1.91% 1.87% EQUITIES 0% – 20% 18.66% Return 6 Month 8.58% 10.35%

FIXED INCOME 50% – 100% Returns 1 Year 12.48% 12.81% SECURITIES 68.31% Returns 2 Year 10.67% 11.85% MONEY MARKET INSTRUMENT 0 % – 40% 13.03% Returns 3 Year 8.89% 9.65%

Inception 9.02% 8.69%

Indepth | Jan 2021 | 19 BALANCED FUND SFIN: ULIF00205/07/08BF0138 Inception Date 20 - 8 - 2008

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to maintain a balance between equity and debt. NAV : 29.0726 AUM : 21.83 Cr Portfolio Duration : 4.97 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE

GOVT BONDS 27.05 AAA 12.73 A1+ 0.67 CASH & CASH EQUIVALENTS 59.55 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.46 HDFC LIFE INSURANCE COMPANY LIMITED 0.47 RELIANCE INDUSTRIES LIMITED 5.45 INDUSIND BANK LIMITED 0.44 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.01 POWER GRID CORPORATION OF INDIA LIMITED 0.42 INFOSYS LIMITED 3.91 DIVIS LABORATORIES LIMITED 0.42 ICICI BANK LIMITED 3.23 TATA STEEL LIMITED 0.41 KOTAK MAHINDRA BANK LIMITED 2.56 NTPC LIMITED 0.41 TATA CONSULTANCY SERVICES LIMITED 2.56 BAJAJ AUTO LIMITED 0.38 HINDUSTAN UNILEVER LIMITED 1.82 BRITANNIA INDUSTRIES LIMITED 0.36 ITC LIMITED 1.55 CIPLA LIMITED 0.35 AXIS BANK LIMITED 1.34 HERO MOTOCORP LIMITED 0.34 LARSEN & TOUBRO LIMITED 1.34 JSW STEEL LIMITED 0.33 BAJAJ FINANCE LIMITED 1.22 GRASIM INDUSTRIES LIMITED 0.31 ASIAN PAINTS LIMITED 1.06 SBI LIFE INSURANCE COMPANY LIMITED 0.31 BHARTI AIRTEL LIMITED 1.05 EICHER MOTORS LIMITED 0.30 STATE BANK OF INDIA 0.92 HINDALCO INDUSTRIES LIMITED 0.30 HCL TECHNOLOGIES LIMITED 0.88 OIL & NATURAL GAS CORPORATION LIMITED 0.29 MARUTI SUZUKI INDIA LIMITED 0.87 TATA MOTORS LIMITED 0.28 MAHINDRA & MAHINDRA LIMITED 0.59 SHREE CEMENT LIMITED 0.27 NESTLE INDIA LIMITED 0.56 BHARAT PETROLEUM CORPORATION LIMITED 0.26 TITAN COMPANY LIMITED 0.56 COAL INDIA LIMITED 0.24 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 UPL LIMITED 0.22 DR REDDYS LABORATORIES LIMITED 0.54 GAIL (INDIA) LIMITED 0.20 ULTRATECH CEMENT LIMITED 0.52 INDIAN OIL CORPORATION LIMITED 0.20 TECH MAHINDRA LIMITED 0.51 YES BANK LIMITED 0.03 WIPRO LIMITED 0.49 BAJAJ FINSERV LIMITED 0.47

DEBT HOLDINDS % of AUM DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 14.72 7.72% GSEC MD 15/06/2049 0.94 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 5.66 6.61% STATE GOVT OF KARNATAKA MD 14/10/2030 0.89 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 3.81 7.17% GSEC MD 08/01/2028 0.84 6.18% GSEC MD 04/11/2024 2.88 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.67 5.77% GSEC MD 03/08/2030 2.72 8.03% FOOD CORPORATION OF INDIA SPCIAL BOND MD 15/12/2024 0.60 7.62% GSEC MD 15/09/2039 2.06 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.50 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 1.59 8.15% GSEC MD 24/11/2026 0.26 9.41% NCD INDIA INFRASTRUCTURE FINANCE COMPANY LTD. MD 27/07/2037 1.16 8.83% GSEC MD 12/12/2041 0.17 6.80% GSEC MD 15/12/2060 0.95

Indepth | Jan 2021 | 20 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.73 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.35 INFRASTRUCTURE 19.41 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.10 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.85 MANUFACTURE OF TOBACCO PRODUCTS 1.55 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.45 CIVIL ENGINEERING 1.34 MANUFACTURE OF BASIC METALS 1.04 MANUFACTURE OF FOOD PRODUCTS 0.92 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.80 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.73 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.59 OTHER MANUFACTURING 0.56 MANUFACTURE OF TEXTILES 0.31 MINING OF COAL AND LIGNITE 0.24 SOVEREIGN 27.05

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 4.08% 5.21%

EQUITIES 30% – 70% 51.55% Return 6 Month 19.35% 24.62%

Returns 1 Year 10.87% 13.99% FIXED INCOME SECURITIES Returns 2 Year 11.48% 12.73% 30 % – 70% 48.45% Returns 3 Year 8.45% 9.78% MONEY MARKET INSTRUMENT Inception 9.00% 9.35%

Indepth | Jan 2021 | 21 PENSION BALANCED FUND SFIN: ULIF00705/01/09PBALANCE0138 Inception Date 22 - 1 - 2009

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to maintain a balance between equity and debt. NAV : 32.0531 AUM : 3.13 Cr Portfolio Duration : 4.99 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 26.16 SOVEREIGN 26.16 AAA 10.24 INFRASTRUCTURE 10.24 CASH & CASH EQUIVALENTS 63.60 OTHERS 63.60 Total 100.00 TOTAL 100.00

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.51 WIPRO LIMITED 0.49 RELIANCE INDUSTRIES LIMITED 5.49 BAJAJ FINSERV LIMITED 0.48 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.04 INDUSIND BANK LIMITED 0.45 INFOSYS LIMITED 3.94 DIVIS LABORATORIES LIMITED 0.43 ICICI BANK LIMITED 3.25 POWER GRID CORPORATION OF INDIA LIMITED 0.42 KOTAK MAHINDRA BANK LIMITED 2.58 TATA STEEL LIMITED 0.42 TATA CONSULTANCY SERVICES LIMITED 2.57 NTPC LIMITED 0.41 HINDUSTAN UNILEVER LIMITED 1.83 CIPLA LIMITED 0.39 ITC LIMITED 1.56 BAJAJ AUTO LIMITED 0.39 AXIS BANK LIMITED 1.38 BRITANNIA INDUSTRIES LIMITED 0.37 LARSEN & TOUBRO LIMITED 1.34 HERO MOTOCORP LIMITED 0.36 BAJAJ FINANCE LIMITED 1.25 JSW STEEL LIMITED 0.34 ASIAN PAINTS LIMITED 1.10 GRASIM INDUSTRIES LIMITED 0.32 BHARTI AIRTEL LIMITED 1.05 SBI LIFE INSURANCE COMPANY LIMITED 0.31 STATE BANK OF INDIA 0.93 SHREE CEMENT LIMITED 0.31 HCL TECHNOLOGIES LIMITED 0.91 HINDALCO INDUSTRIES LIMITED 0.30 MARUTI SUZUKI INDIA LIMITED 0.90 EICHER MOTORS LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.61 OIL & NATURAL GAS CORPORATION LIMITED 0.29 NESTLE INDIA LIMITED 0.59 TATA MOTORS LIMITED 0.28 TITAN COMPANY LIMITED 0.58 BHARAT PETROLEUM CORPORATION LIMITED 0.26 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.57 COAL INDIA LIMITED 0.24 DR REDDYS LABORATORIES LIMITED 0.53 UPL LIMITED 0.22 ULTRATECH CEMENT LIMITED 0.52 INDIAN OIL CORPORATION LIMITED 0.22 TECH MAHINDRA LIMITED 0.52 GAIL (INDIA) LIMITED 0.20 HDFC LIFE INSURANCE COMPANY LIMITED 0.50 YES BANK LIMITED 0.02

DEBT HOLDINDS % of AUM

7.40% GSEC MD 09/09/2035 8.80 7.95% FERTILISER BOND MD 18/02/2026 8.48 5.77% GSEC MD 03/08/2030 3.80 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.51 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 3.45 6.18% GSEC MD 04/11/2024 3.35 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 3.29 7.17% GSEC MD 08/01/2028 1.73

Indepth | Jan 2021 | 22 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 20.71 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.42 INFRASTRUCTURE 18.58 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.15 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.92 MANUFACTURE OF TOBACCO PRODUCTS 1.56 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.49 CIVIL ENGINEERING 1.34 MANUFACTURE OF BASIC METALS 1.05 MANUFACTURE OF FOOD PRODUCTS 0.95 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.83 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.74 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.61 OTHER MANUFACTURING 0.58 MANUFACTURE OF TEXTILES 0.32 MINING OF COAL AND LIGNITE 0.24 SOVEREIGN 26.16

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 4.00% 5.21%

EQUITIES 30%-70% 52.27% Return 6 Month 19.65% 24.62%

Returns 1 Year 11.12% 13.99% FIXED INCOME SECURITIES Returns 2 Year 11.40% 12.73%

30% -70% 47.73% Returns 3 Year 8.88% 9.78% MONEY MARKET INSTRUMENT Inception 10.15% 12.42%

Indepth | Jan 2021 | 23 STABLE FUND SFIN: ULIF01303/09/10STABLE0138 Inception Date 24 - 9 - 2010

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to maintain a balance between equity and debt exposure so that the client has a stable and attractive long term return. The fund will also shift allocation between debt and equity to gain from asset price movements over medium to long term. NAV : 21.5503 AUM : 22.99 Cr Portfolio Duration : 5.20 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 23.70 SOVEREIGN 23.70 AAA 10.60 FINANCIAL & INSURANCE ACTIVITIES 2.62 A1+ 2.12 INFRASTRUCTURE 10.09 CASH & CASH EQUIVALENTS 63.59 OTHERS 63.59 Total 100.00 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.50 INDUSIND BANK LIMITED 0.45 RELIANCE INDUSTRIES LIMITED 5.48 DIVIS LABORATORIES LIMITED 0.42 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.03 POWER GRID CORPORATION OF INDIA LIMITED 0.42 INFOSYS LIMITED 3.93 TATA STEEL LIMITED 0.41 ICICI BANK LIMITED 3.25 NTPC LIMITED 0.41 KOTAK MAHINDRA BANK LIMITED 2.57 BAJAJ AUTO LIMITED 0.38 TATA CONSULTANCY SERVICES LIMITED 2.57 BRITANNIA INDUSTRIES LIMITED 0.36 HINDUSTAN UNILEVER LIMITED 1.83 CIPLA LIMITED 0.36 ULTRATECH CEMENT LIMITED 1.63 HERO MOTOCORP LIMITED 0.34 ITC LIMITED 1.56 JSW STEEL LIMITED 0.33 AXIS BANK LIMITED 1.35 GRASIM INDUSTRIES LIMITED 0.31 LARSEN & TOUBRO LIMITED 1.34 SBI LIFE INSURANCE COMPANY LIMITED 0.31 BAJAJ FINANCE LIMITED 1.24 EICHER MOTORS LIMITED 0.30 ASIAN PAINTS LIMITED 1.06 HINDALCO INDUSTRIES LIMITED 0.30 BHARTI AIRTEL LIMITED 1.04 OIL & NATURAL GAS CORPORATION LIMITED 0.29 STATE BANK OF INDIA 0.93 TATA MOTORS LIMITED 0.28 HCL TECHNOLOGIES LIMITED 0.88 SHREE CEMENT LIMITED 0.27 MARUTI SUZUKI INDIA LIMITED 0.87 BHARAT PETROLEUM CORPORATION LIMITED 0.26 MAHINDRA & MAHINDRA LIMITED 0.59 COAL INDIA LIMITED 0.24 NESTLE INDIA LIMITED 0.56 UPL LIMITED 0.23 TITAN COMPANY LIMITED 0.56 INDIAN OIL CORPORATION LIMITED 0.20 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 GAIL (INDIA) LIMITED 0.19 DR REDDYS LABORATORIES LIMITED 0.54 YES BANK LIMITED 0.03 TECH MAHINDRA LIMITED 0.51 WIPRO LIMITED 0.49 HDFC LIFE INSURANCE COMPANY LIMITED 0.47 BAJAJ FINSERV LIMITED 0.47

Indepth | Jan 2021 | 24 DEBT HOLDINGS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 8.54 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 6.27 5.77% GSEC MD 03/08/2030 2.59 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 2.41 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 2.36 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 2.12 7.62% GSEC MD 15/09/2039 1.95 7.72% GSEC MD 26/102055 1.77 6.61% STATE GOVT OF KARNATAKA MD 14/10/2030 1.76 7.72% GSEC MD 15/06/2049 1.60 6.18% GSEC MD 04/11/2024 1.37 6.80% GSEC MD 15/12/2060 1.35 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 0.50 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.48 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.47 7.75% POWER FINANCE CORPORATION LIMITED 11/06/2030 0.47 7.40% GSEC MD 09/09/2035 0.41

INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.23 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.38 INFRASTRUCTURE 18.39 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.12 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.90 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.86 MANUFACTURE OF TOBACCO PRODUCTS 1.56 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.45 CIVIL ENGINEERING 1.34 MANUFACTURE OF BASIC METALS 1.04 MANUFACTURE OF FOOD PRODUCTS 0.92 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.73 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.59 OTHER MANUFACTURING 0.56 MANUFACTURE OF TEXTILES 0.31 MINING OF COAL AND LIGNITE 0.24 SOVEREIGN 23.70

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 4.07% 5.21%

EQUITIES 20%-80% 52.91% Return 6 Month 19.19% 24.62%

Returns 1 Year 10.37% 13.99% FIXED INCOME SECURITIES Returns 2 Year 11.18% 12.73% 20%-80% 47.09% Returns 3 Year 8.30% 9.78% MONEY MARKET INSTRUMENT Inception 7.75% 8.84%

Indepth | Jan 2021 | 25 NAVPF FUND SFIN: ULIF01124/08/09NAVPF0138 Inception Date 8 - 9 - 2009

Fund Manager : Karan Jhaveri Investment Objective : This fund aims at restricting the fall in NAV at any point of time below 80% of the highest NAV recorded from the date of inception of this fund. NAV : 20.0907 AUM : 46.46 Cr Portfolio Duration : 0.25

RATING PROFILE SECTORAL PROFILE Current NAV 20.0907 GOVT BONDS 21.47 SOVEREIGN 21.47 CASH & CASH EQUIVALENTS 78.53 OTHERS 78.53 Max NAV 20.4590 Total 100.00 Total 100.00 80% of Max NAV 16.3672

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.29 TATA STEEL LIMITED 0.62 HDFC BANK LIMITED 6.47 NTPC LIMITED 0.62 INFOSYS LIMITED 5.94 BAJAJ AUTO LIMITED 0.58 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.75 BAJAJ FINSERV LIMITED 0.56 TATA CONSULTANCY SERVICES LIMITED 3.89 HDFC LIFE INSURANCE COMPANY LIMITED 0.55 ICICI BANK LIMITED 3.82 BRITANNIA INDUSTRIES LIMITED 0.54 KOTAK MAHINDRA BANK LIMITED 3.03 CIPLA LIMITED 0.54 HINDUSTAN UNILEVER LIMITED 2.76 INDUSIND BANK LIMITED 0.53 ITC LIMITED 2.36 HERO MOTOCORP LIMITED 0.52 LARSEN & TOUBRO LIMITED 2.03 JSW STEEL LIMITED 0.50 ASIAN PAINTS LIMITED 1.61 GRASIM INDUSTRIES LIMITED 0.47 AXIS BANK LIMITED 1.59 HINDALCO INDUSTRIES LIMITED 0.46 BHARTI AIRTEL LIMITED 1.58 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.46 BAJAJ FINANCE LIMITED 1.45 EICHER MOTORS LIMITED 0.46 HCL TECHNOLOGIES LIMITED 1.33 OIL & NATURAL GAS CORPORATION LIMITED 0.44 MARUTI SUZUKI INDIA LIMITED 1.32 TATA MOTORS LIMITED 0.43 STATE BANK OF INDIA 1.09 SHREE CEMENT LIMITED 0.42 MAHINDRA & MAHINDRA LIMITED 0.89 BHARAT PETROLEUM CORPORATION LIMITED 0.40 NESTLE INDIA LIMITED 0.85 COAL INDIA LIMITED 0.37 TITAN COMPANY LIMITED 0.85 SBI LIFE INSURANCE COMPANY LIMITED 0.37 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.83 UPL LIMITED 0.33 DR REDDYS LABORATORIES LIMITED 0.81 INDIAN OIL CORPORATION LIMITED 0.30 ULTRATECH CEMENT LIMITED 0.79 GAIL (INDIA) LIMITED 0.30 TECH MAHINDRA LIMITED 0.78 YES BANK LIMITED 0.02 WIPRO LIMITED 0.74 DIVIS LABORATORIES LIMITED 0.63 POWER GRID CORPORATION OF INDIA LIMITED 0.63

DEBT HOLDINGS % of AUM

364 DAYS TREASURY BILL MD 18/03/2021 10.65 364 DAYS TREASURY BILL MD 10/06/2021 10.60 364 DAYS TREASURY BILL MD 16/09/2021 0.21

Indepth | Jan 2021 | 26 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.22 INFRASTRUCTURE 13.01 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 12.68 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.70 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 2.81 MANUFACTURE OF TOBACCO PRODUCTS 2.36 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.20 CIVIL ENGINEERING 2.03 MANUFACTURE OF BASIC METALS 1.58 MANUFACTURE OF FOOD PRODUCTS 1.39 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.21 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.10 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.89 OTHER MANUFACTURING 0.85 MANUFACTURE OF TEXTILES 0.47 MINING OF COAL AND LIGNITE 0.37 SOVEREIGN 21.47

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark

Return 1 Month 4.73% 5.21% EQUITIES 0%-100% 71.86% Return 6 Month 14.54% 24.62%

Returns 1 Year -0.32% 13.99% FIXED INCOME SECURITIES Returns 2 Year 3.26% 12.73% 0%-100% 28.14% Returns 3 Year 3.16% 9.78% MONEY MARKET INSTRUMENT Inception 6.36% 9.40%

*T&C apply. Indepth | Jan 2021 | 27 An Aegon & Times Group Company www.aegonlife.com

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AEGON, toh tension gone. ABOUT AEGON LIFE

Aegon Life Insurance Company Limited launched its pan-India operations in July 2008 with a vision to be the most recommended new age life insurance Company. Touted to be an ‘Online Term Specialist’, Aegon Life is the pioneer for offering online term plans in India. Aegon is one of the world’s leading financial services organizations (providing life insurance, pension plans, and asset management) and Bennett, Coleman & Company (India’s leading media conglomerate) have come together to launch Aegon Life Insurance. This joint venture adopts a local approach with the power of global expertise to facilitate a direct to customer approach, leveraging digital platforms to bring transparent solutions to customers and to prioritize their needs. Our customers are modern, tech-savvy, and digitally smart, which means they are evolving every day. So, we believe your insurance buying experience should be an enriching one too. That’s why, when you ‘Think Term, Think Aegon Life!’

ABOUT AEGON

Aegon's roots go back 170 years – to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia. In the US, Aegon's leading market, it operates under the Transamerica brand. Today, Aegon is one of the world's leading financial services organizations, providing life insurance, pensions and asset management. Aegon never loses sight of its purpose to help its customers secure their long-term financial future. With around 28,000 employees, it has 635 billion Euros of revenue-generating investments.

ABOUT BENNETT, COLEMAN & COMPANY LIMITED

The Times Group is one of the leading media conglomerate in India having presence in print, radio, TV, outdoor media and the internet through Bennett, Coleman and Company Limited (BCCL) and its subsidiaries. The Times of India, the flagship brand of the company, is the number 1 English newspaper in India and the World by circulation. With a turnover exceeding a billion dollars, the group has the support of over 25,000 advertisers, 11,000 employees and an audience spanning across all continents.

Indepth | Jan 2021 | 29 Disclaimers THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER. Funds do not offer guaranteed or assured returns. Investments are subject to market risk. For more details, please contact your Financial Advisors. Unit Link Life Insurance Products are different from the Traditional Insurance Products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Aegon Life Insurance company Limited is only the name of the Insurance company and the specified Unit Linked funds do not in any way indicate the quality of the contract, its future prospects or returns. For more details on ALI products and respective risk factors, terms and conditions please read respective sales brochure documents carefully before concluding a sale. The respective sales brochure documents for various products are published in the website - www.aegonlife.com.This document is issued by Aegon Life Insurance Company Limited. While reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. Past performance is not necessarily indicative of future performance. We have reviewed the report, and insofar as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Aegon Life Insurance Company Limited, nor any person connected with it, accepts any liability arising from the use of this document. You are advised to make your own independent judgment with respect to any matter contained herein. Insurance is the subject matter of the solicitation. Corporate Identity No.: U66010MH2007PLC169110. Website: www.aegonlife.com. Fax: 022-61180200/300. Email: [email protected]. Aegon Life Insurance Company Limited Registration No. 138. Registered office: Aegon Life Insurance Ltd. Building No. 3, Third Floor, Unit No. 1, Nesco IT Park, Western Express Highway, Goregaon (East), - 400063.

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/ FRAUDULENT OFFERS! IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Aegon Life Insurance Company Limited Building No. 3, Third Floor, Unit No. 1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai- 400063. Tel: +91 2261180100 | Fax: 02261180200/300 E-mail: [email protected] Website : www.aegonlife.com

Indepth | Jan 2021 | 30