MAY 2021 IN-DEPTH INVESTMENT BULLETIN OF AEGON LIFE 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 | May 2021 | 2 Commentary on the Indian Securities Market for April 2021

Nifty (down 0.4%) was largely flat in April post a flattish march. The covid situation has worsened in the month of April in leading to different levels of lockdowns in various states. The vaccination program for the age group of 18-44 years has been allowed from 1 st May. However, vaccination availability is a concern in the short term and may lead to some delays.

The dollar index corrected after three months of up move. It was down 2.09% and closed at 91.28 level. Despite the fall in Dollar index, the rupee was weak and depreciated by 97 paise to close at 74.08 level.

Brent Crude gained almost 6% after one month of correction and ended at 67.25 level. Gold was up by 3.6% after three months of correction.

Foreign institutional investors (FIIs) investment turned negative after six month of positive inflows. They sold about $1.3 bn worth of equity in April.

Domestic institutional investors (DIIs) investment continued to be positive for a second month in a row. Equity mutual funds received net inflows in March after eight consecutive months of outflows (received inflows of 9115 crs in March)

Consumer price Index (CPI) witnessed an uptick again with increase in food and fuel prices. The CPI came at 5.52% in March vs 5.03% in February.

The Index of Industrial Production (IIP) contracted by 3.6% in February after contracting by 0.8% in January.

GST collections continued to be strong with April collections at 1.41 lakh crs, 14% MoM growth. This is the highest collection ever and the fifth month in a row where the collections have crossed 1.1 lakh crs.

In May, markets will react to the progress of covid and vaccination in India and across the world and the Annual results of companies.

Indepth | May 2021 | 3 Bonds traded with a positive bias as the Monetary Policy Committee held rates and expressed concerns about the raging second wave of the Coronavirus pandemic. Concerns were also raised by members on the steepness in the yield curve which led to an announcement of a structured G-Sec Acquisition Programme (GSAP) for an Nifty (down 0.4%) was largely flat in April post a flattish march. The covid situation has amount of INR 1 trillion in Q1. These events led to the 10Y benchmark yield to end at worsened in the month of April in India leading to different levels of lockdowns in 6.03, dropping from around 6.12 at the start of the month. The second wave has various states. The vaccination program for the age group of 18-44 years has been clouded the prospects of a swifter recovery in the economy with various states allowed from 1 st May. However, vaccination availability is a concern in the short term announcing lockdowns. Market remains hopeful that the RBI will continue to support and may lead to some delays. the markets through the GSAP programme in ensuing quarters.

The dollar index corrected after three months of up move. It was down 2.09% and closed at 91.28 level. Despite the fall in Dollar index, the rupee was weak and depreciated by 97 paise to close at 74.08 level.

Brent Crude gained almost 6% after one month of correction and ended at 67.25 level. Gold was up by 3.6% after three months of correction.

Foreign institutional investors (FIIs) investment turned negative after six month of positive inflows. They sold about $1.3 bn worth of equity in April.

Domestic institutional investors (DIIs) investment continued to be positive for a second month in a row. Equity mutual funds received net inflows in March after eight consecutive months of outflows (received inflows of 9115 crs in March)

Consumer price Index (CPI) witnessed an uptick again with increase in food and fuel prices. The CPI came at 5.52% in March vs 5.03% in February.

The Index of Industrial Production (IIP) contracted by 3.6% in February after contracting by 0.8% in January.

GST collections continued to be strong with April collections at 1.41 lakh crs, 14% MoM growth. This is the highest collection ever and the fifth month in a row where the collections have crossed 1.1 lakh crs.

In May, markets will react to the progress of covid and vaccination in India and across the world and the Annual results of companies.

Indepth | May 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 | May 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 : 35.2545 AUM : 100.24 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.84 DIVIS LABORATORIES LIMITED 1.45 LIMITED 7.58 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.45 ICICI BANK LIMITED 6.73 LIMITED 1.36 HDFC BANK LIMITED 6.62 LIMITED 1.23 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.95 ULTRATECH CEMENT LIMITED 1.16 DR REDDYS LABORATORIES LIMITED 3.51 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.11 SBI-ETF NIFTY BANK 3.23 LIMITED 1.10 LIMITED 3.05 LIMITED 1.09 TATA CONSULTANCY SERVICES LIMITED 2.87 JSW STEEL LIMITED 1.09 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 2.85 LIMITED 1.06 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 2.76 (INDIA) LIMITED 0.98 LIMITED 2.41 LIMITED 0.89 NESTLE INDIA LIMITED 2.36 MAHINDRA & MAHINDRA LIMITED 0.89 LIMITED 2.23 LIMITED 0.83 LIMITED 2.09 ITC LIMITED 0.80 LIMITED 2.04 HONEYWELL AUTOMATION INDIA LIMITED 0.69 STATE 1.99 LIMITED 0.60 LIMITED 1.99 LARSEN & TOUBRO INFOTECH LIMITED 0.59 BOSCH LIMITED 1.98 HDFC LIFE INSURANCE COMPANY LIMITED 0.58 LARSEN & TOUBRO LIMITED 1.87 LIMITED 0.52 LIMITED 1.75 STATE PETRONET LIMITED 0.49 SRF LIMITED 1.75 ENDURANCE TECHNOLOGIES LIMITED 0.49 CORPORATION LIMITED 1.64

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.23 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.95 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.19 CIVIL ENGINEERING 1.87 INFRASTRUCTURE 11.75 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.68 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.31 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.45 MANUFACTURE OF BASIC METALS 6.48 INFORMATION SERVICE ACTIVITIES 0.98 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.38 REAL ESTATE ACTIVITIES 0.83 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.57 MANUFACTURE OF TOBACCO PRODUCTS 0.80 MANUFACTURE OF FOOD PRODUCTS 3.45 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.69 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & EQUIPMENTS 2.09

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.57% -0.41% EQUITIES 75% TO 100% 96.56 % Return 6 Month 25.72% 25.67% FIXED INCOME SECURITIES 0 % TO 25% 3.44 % Returns 1 Year 45.68% 48.39% MONEY MARKET INSTRUMENT Returns 2 Year 9.49% 11.56%

Returns 3 Year 9.21% 10.84%

Inception 10.36% 9.79%

Indepth | May 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 : 24.1893 AUM : 179.18 Cr Benchmark : S&P BSE 100

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.98 LIMITED 0.98 ICICI BANK LIMITED 5.59 ITC LIMITED 0.98 RELIANCE INDUSTRIES LIMITED 4.67 JOHNSON CONTROLS - HITACHI AIR CONDITIONING TATA CONSULTANCY SERVICES LIMITED 4.33 INDIA LIMITED 0.94 HDFC BANK LIMITED 4.22 STEEL AUTHORITY OF INDIA LIMITED 0.71 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.09 ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED 0.68 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 3.94 HDFC LIFE INSURANCE COMPANY LIMITED 0.66 KOTAK MAHINDRA BANK LIMITED 3.27 LIMITED 0.64 SBI-ETF NIFTY BANK 3.18 BATA INDIA LIMITED 0.54 HINDUSTAN UNILEVER LIMITED 2.79 LARSEN & TOUBRO INFOTECH LIMITED 0.50 2.52 BALRAMPUR CHINI MILLS LIMITED 0.50 DR REDDYS LABORATORIES LIMITED 2.50 INDUSIND BANK LIMITED 0.34 DIVIS LABORATORIES LIMITED 2.41 CIPLA LIMITED 2.14 BHARAT FORGE LIMITED 2.06 INDUSTRY % of AUM HONEYWELL AUTOMATION INDIA LIMITED 2.02 BHARTI AIRTEL LIMITED 1.94 FINANCIAL AND INSURANCE ACTIVITIES 23.46 BOSCH LIMITED 1.93 VOLTAS LIMITED 1.81 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.81 TATA MOTORS LIMITED 1.75 INFRASTRUCTURE 9.71 HINDALCO INDUSTRIES LIMITED 1.75 TATA STEEL LIMITED 1.62 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 7.05 ULTRATECH CEMENT LIMITED 1.60 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.00 SRF LIMITED 1.58 NESTLE INDIA LIMITED 1.56 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 5.66 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.24 MANUFACTURE OF BASIC METALS 5.11 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 1.16 SUNDRAM FASTENERS LIMITED 1.12 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & TATA CONSUMER PRODUCTS LIMITED 1.10 EQUIPMENTS 3.18 CONTAINER CORPORATION OF INDIA LIMITED 1.09 MANUFACTURE OF FOOD PRODUCTS 3.16 SBI CARDS AND PAYMENT SERVICES PRIVATE LIMITED 1.08 JSW STEEL LIMITED 1.04 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 2.75 GUJARAT STATE PETRONET LIMITED 1.02 MANUFACTURE OF ELECTRICAL EQUIPMENTS 2.26 ABB INDIA LIMITED 1.02 AXIS BANK LIMITED 1.00 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 2.02 ENDURANCE TECHNOLOGIES LIMITED 1.00 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.60 INDIA LIMITED 0.99 BHARAT PETROLEUM CORPORATION LIMITED 0.99 INFORMATION SERVICE ACTIVITIES 0.99 INFO EDGE (INDIA) LIMITED 0.99 MANUFACTURE OF TOBACCO PRODUCTS 0.98 MANUFACTURE OF LEATHER AND RELATED PRODUCTS 0.54

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.30% -0.20%

EQUITIES 80% – 100% 96.56% Return 6 Month 20.24% 26.56%

Returns 1 Year 40.09% 49.06% FIXED INCOME SECURITIES Returns 2 Year 12.55% 11.76%

0% TO 20% 3.44% Returns 3 Year 10.09% 9.95% MONEY MARKET INSTRUMENT Inception 8.70% 8.89%

Indepth | May 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 : 56.3719 AUM : 14.69 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.77 DIVIS LABORATORIES LIMITED 1.44 RELIANCE INDUSTRIES LIMITED 7.58 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.41 HDFC BANK LIMITED 6.60 MAHINDRA & MAHINDRA LIMITED 1.41 ICICI BANK LIMITED 6.45 DEEPAK NITRITE LIMITED 1.22 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.25 ULTRATECH CEMENT LIMITED 1.20 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.99 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.12 DR REDDYS LABORATORIES LIMITED 3.39 TATA CONSUMER PRODUCTS LIMITED 1.09 TATA STEEL LIMITED 3.01 TATA MOTORS LIMITED 1.06 TATA CONSULTANCY SERVICES LIMITED 2.74 VOLTAS LIMITED 1.06 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 2.65 JSW STEEL LIMITED 1.06 HINDUSTAN UNILEVER LIMITED 2.31 INFO EDGE (INDIA) LIMITED 0.94 NESTLE INDIA LIMITED 2.26 WIPRO LIMITED 0.82 CIPLA LIMITED 2.24 OBEROI REALTY LIMITED 0.81 BHARTI AIRTEL LIMITED 2.13 ITC LIMITED 0.79 BHARAT FORGE LIMITED 2.09 KOTAK MAHINDRA BANK LIMITED 0.71 STATE BANK OF INDIA 2.02 HONEYWELL AUTOMATION INDIA LIMITED 0.65 BOSCH LIMITED 2.02 LARSEN & TOUBRO INFOTECH LIMITED 0.58 SBI-ETF NIFTY BANK 2.00 STEEL AUTHORITY OF INDIA LIMITED 0.55 AXIS BANK LIMITED 1.97 AMBUJA CEMENTS LIMITED 0.55 LARSEN & TOUBRO LIMITED 1.85 HDFC LIFE INSURANCE COMPANY LIMITED 0.54 HINDALCO INDUSTRIES LIMITED 1.75 ENDURANCE TECHNOLOGIES LIMITED 0.49 SRF LIMITED 1.66 GUJARAT STATE PETRONET LIMITED 0.48 BHARAT PETROLEUM CORPORATION LIMITED 1.57

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.29 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 12.92 EQUIPMENTS 2.09 INFRASTRUCTURE 11.76 CIVIL ENGINEERING 1.85 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.20 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.75 MANUFACTURE OF BASIC METALS 6.37 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.41 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.19 INFORMATION SERVICE ACTIVITIES 0.94 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.58 REAL ESTATE ACTIVITIES 0.81 MANUFACTURE OF FOOD PRODUCTS 3.36 MANUFACTURE OF TOBACCO PRODUCTS 0.79 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 2.47 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.65

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.54% -0.41% EQUITIES 75% - 100% 95.30% Return 6 Month 25.59% 25.67%

FIXED INCOME Returns 1 Year 45.59% 48.39% SECURITIES 0% TO 25% 4.70% Returns 2 Year 9.57% 11.56% MONEY MARKET INSTRUMENT Returns 3 Year 9.28% 10.84%

Inception 15.11% 14.25%

Indepth | May 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 : 52.8558 AUM : 8.63 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 10.04 NESTLE INDIA LIMITED 0.91 HDFC BANK LIMITED 9.57 POWER GRID CORPORATION OF INDIA LIMITED 0.88 INFOSYS LIMITED 7.81 INDUSIND BANK LIMITED 0.85 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 6.78 TATA MOTORS LIMITED 0.85 ICICI BANK LIMITED 6.46 HDFC LIFE INSURANCE COMPANY LIMITED 0.84 TATA CONSULTANCY SERVICES LIMITED 4.89 HINDALCO INDUSTRIES LIMITED 0.84 KOTAK MAHINDRA BANK LIMITED 3.99 LIMITED 0.83 HINDUSTAN UNILEVER LIMITED 3.27 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.83 AXIS BANK LIMITED 2.79 DIVIS LABORATORIES LIMITED 0.81 ITC LIMITED 2.79 LIMITED 0.80 LARSEN & TOUBRO LIMITED 2.55 NTPC LIMITED 0.76 LIMITED 2.28 CIPLA LIMITED 0.74 STATE BANK OF INDIA 2.14 LIMITED 0.64 BHARTI AIRTEL LIMITED 2.02 OIL & NATURAL GAS CORPORATION LIMITED 0.63 LIMITED 1.78 HERO MOTOCORP LIMITED 0.59 HCL TECHNOLOGIES LIMITED 1.52 LIMITED 0.58 INDIA LIMITED 1.33 BHARAT PETROLEUM CORPORATION LIMITED 0.57 TATA STEEL LIMITED 1.26 SBI LIFE INSURANCE COMPANY LIMITED 0.56 WIPRO LIMITED 1.13 LIMITED 0.53 ULTRATECH CEMENT LIMITED 1.13 UPL LIMITED 0.52 MAHINDRA & MAHINDRA LIMITED 1.12 TATA CONSUMER PRODUCTS LIMITED 0.44 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.10 LIMITED 0.43 JSW STEEL LIMITED 1.09 LIMITED 0.34 LIMITED 1.08 LIMITED 0.05 DR REDDYS LABORATORIES LIMITED 1.01 LIMITED 1.00 LIMITED 0.96

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 37.39 MANUFACTURE OF FOOD PRODUCTS 1.99 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 16.31 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.71 INFRASTRUCTURE 16.07 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.39 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.57 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.12 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.66 OTHER 1.00 MANUFACTURE OF BASIC METALS 3.19 MANUFACTURE OF TEXTILES 0.83 MANUFACTURE OF TOBACCO PRODUCTS 2.79 MINING OF COAL AND LIGNITE 0.43 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.71 CIVIL ENGINEERING 2.55

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.47% -0.41% EQUITIES 98% - 100% 98.72% Return 6 Month 24.95% 25.67%

FIXED INCOME Returns 1 Year 47.34% 48.39% SECURITIES 0% TO 2% 1.28% Returns 2 Year 11.19% 11.56% MONEY MARKET INSTRUMENT Returns 3 Year 10.54% 10.84%

Inception 14.51% 14.71%

Indepth | May 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 : 28.9957 AUM : 14.31 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 9.00 BHARAT PETROLEUM CORPORATION LIMITED 1.68 RELIANCE INDUSTRIES LIMITED 7.61 DIVIS LABORATORIES LIMITED 1.46 HDFC BANK LIMITED 6.65 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.44 ICICI BANK LIMITED 6.27 DEEPAK NITRITE LIMITED 1.25 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.25 ULTRATECH CEMENT LIMITED 1.24 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.04 TATA MOTORS LIMITED 1.17 DR REDDYS LABORATORIES LIMITED 3.51 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.15 TATA STEEL LIMITED 3.06 JSW STEEL LIMITED 1.14 TATA CONSULTANCY SERVICES LIMITED 2.76 TATA CONSUMER PRODUCTS LIMITED 1.12 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 2.72 VOLTAS LIMITED 1.08 HINDUSTAN UNILEVER LIMITED 2.41 INFO EDGE (INDIA) LIMITED 0.96 NESTLE INDIA LIMITED 2.39 MAHINDRA & MAHINDRA LIMITED 0.94 CIPLA LIMITED 2.28 ITC LIMITED 0.84 BHARAT FORGE LIMITED 2.15 OBEROI REALTY LIMITED 0.84 AXIS BANK LIMITED 2.14 WIPRO LIMITED 0.83 SBI-ETF NIFTY BANK 2.08 KOTAK MAHINDRA BANK LIMITED 0.73 BOSCH LIMITED 2.08 LARSEN & TOUBRO INFOTECH LIMITED 0.60 BHARTI AIRTEL LIMITED 2.08 HDFC LIFE INSURANCE COMPANY LIMITED 0.59 STATE BANK OF INDIA 2.06 STEEL AUTHORITY OF INDIA LIMITED 0.57 HINDALCO INDUSTRIES LIMITED 1.82 AMBUJA CEMENTS LIMITED 0.57 LARSEN & TOUBRO LIMITED 1.82 ENDURANCE TECHNOLOGIES LIMITED 0.51 SRF LIMITED 1.71 GUJARAT STATE PETRONET LIMITED 0.49

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.47 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 2.02 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.19 CIVIL ENGINEERING 1.82 INFRASTRUCTURE 11.85 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.81 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.41 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.44 MANUFACTURE OF BASIC METALS 6.59 INFORMATION SERVICE ACTIVITIES 0.96 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.37 MANUFACTURE OF TOBACCO PRODUCTS 0.84 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.75 REAL ESTATE ACTIVITIES 0.84 MANUFACTURE OF FOOD PRODUCTS 3.52 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & EQUIPMENTS 2.15

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.74% -0.41%

EQUITIES 80% TO 100% 96.1% Return 6 Month 26.43% 25.67%

Returns 1 Year 47.04% 48.39% FIXED INCOME SECURITIES Returns 2 Year 9.99% 11.56%

0 % – 20% 3.9% Returns 3 Year 9.97% 10.84% MONEY MARKET INSTRUMENT Inception 11.11% 9.81%

Indepth | May 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 : 17.0064 AUM : 157.99 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.58 MAHINDRA & MAHINDRA LIMITED 1.36 RELIANCE INDUSTRIES LIMITED 7.63 DEEPAK NITRITE LIMITED 1.23 ICICI BANK LIMITED 6.77 ULTRATECH CEMENT LIMITED 1.19 HDFC BANK LIMITED 6.41 VOLTAS LIMITED 1.11 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.88 TATA CONSUMER PRODUCTS LIMITED 1.08 DR REDDYS LABORATORIES LIMITED 3.34 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.08 SBI-ETF NIFTY BANK 3.25 JSW STEEL LIMITED 1.04 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 3.12 INFO EDGE (INDIA) LIMITED 0.99 TATA STEEL LIMITED 3.04 TATA MOTORS LIMITED 0.94 TATA CONSULTANCY SERVICES LIMITED 2.79 WIPRO LIMITED 0.91 HINDUSTAN UNILEVER LIMITED 2.67 OBEROI REALTY LIMITED 0.85 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 2.56 HONEYWELL AUTOMATION INDIA LIMITED 0.71 NESTLE INDIA LIMITED 2.25 ITC LIMITED 0.69 CIPLA LIMITED 2.24 LARSEN & TOUBRO INFOTECH LIMITED 0.61 BHARTI AIRTEL LIMITED 2.08 STEEL AUTHORITY OF INDIA LIMITED 0.61 BHARAT FORGE LIMITED 2.06 HDFC LIFE INSURANCE COMPANY LIMITED 0.53 STATE BANK OF INDIA 2.01 AMBUJA CEMENTS LIMITED 0.52 BOSCH LIMITED 1.98 GUJARAT STATE PETRONET LIMITED 0.51 AXIS BANK LIMITED 1.94 ENDURANCE TECHNOLOGIES LIMITED 0.47 LARSEN & TOUBRO LIMITED 1.89 INDIAN OIL CORPORATION LIMITED 0.003 SRF LIMITED 1.77 BRITANNIA INDUSTRIES LIMITED 0.003 HINDALCO INDUSTRIES LIMITED 1.70 BAJAJ FINANCE LIMITED 0.003 BHARAT PETROLEUM CORPORATION LIMITED 1.50 EICHER MOTORS LIMITED 0.002 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.45 MARUTI SUZUKI INDIA LIMITED 0.002 DIVIS LABORATORIES LIMITED 1.43 COAL INDIA LIMITED 0.002 KOTAK MAHINDRA BANK LIMITED 1.39 SHREE CEMENT LIMITED 0.002

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.93 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 12.89 EQUIPMENTS 2.06 INFRASTRUCTURE 11.72 CIVIL ENGINEERING 1.89 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.09 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.72 MANUFACTURE OF BASIC METALS 6.38 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.45 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.68 INFORMATION SERVICE ACTIVITIES 0.99 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.40 REAL ESTATE ACTIVITIES 0.85 MANUFACTURE OF FOOD PRODUCTS 3.33 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.71 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 2.47 MANUFACTURE OF TOBACCO PRODUCTS 0.69 MINING OF COAL AND LIGNITE 0.002

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.49% -0.41%

EQUITIES 80% – 100% 96.20% Return 6 Month 25.48% 25.67%

Returns 1 Year 45.37% 48.39% FIXED INCOME SECURITIES 0% - Returns 2 Year 9.24% 11.56%

Returns 3 Year 9.11% 10.84% MONEY MARKET 0 % – 20% 3.80% INSTRUMENT Inception 8.71% 9.27%

Indepth | May 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 : 16.9866 AUM : 148.71 Cr Benchmark : NIFTY MIDCAP 100 INDUSTRY % of AUM

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

SRF LIMITED 4.17 AVANTI FEEDS LIMITED 1.05 BHARAT FORGE LIMITED 3.93 BALRAMPUR CHINI MILLS LIMITED 1.04 VOLTAS LIMITED 3.69 TATA CONSUMER PRODUCTS LIMITED 1.03 DEEPAK NITRITE LIMITED 3.54 LIMITED 1.01 LIMITED 3.07 TUBE INVESTMENTS OF INDIA LIMITED 1.00 THE LIMITED 2.93 LARSEN & TOUBRO INFOTECH LIMITED 0.99 LIMITED 2.86 LIMITED 0.99 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED 2.85 GODREJ PROPERTIES LIMITED 0.98 MAX FINANCIAL SERVICES LIMITED 2.80 AARTI DRUGS LIMITED 0.97 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 2.78 BOSCH LIMITED 0.96 GUJARAT STATE PETRONET LIMITED 2.74 LIMITED 0.96 OBEROI REALTY LIMITED 2.58 KNR CONSTRUCTIONS LIMITED 0.91 ASHOK LEYLAND LIMITED 2.58 LIMITED 0.87 INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED 2.46 AARTI INDUSTRIES LIMITED 0.86 LIMITED 2.45 SEQUENT SCIENTIFIC LIMITED 0.74 L&T TECHNOLOGY SERVICES LIMITED 2.23 WHIRLPOOL OF INDIA LIMITED 0.66 GRAPHITE INDIA LIMITED 2.17 ADITYA BIRLA CAPITAL LIMITED 0.62 LIMITED 2.15 RALLIS INDIA LIMITED 0.57 LIMITED 2.12 BATA INDIA LIMITED 0.50 LIMITED 2.11 ENDURANCE TECHNOLOGIES LIMITED 0.50 STEEL AUTHORITY OF INDIA LIMITED 2.06 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA LIMITED 0.48 SYNGENE INTERNATIONAL LIMITED 1.88 CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED 0.47 THE LIMITED 1.88 LIMITED 0.47 NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED 1.69 SHRIRAM TRANSPORT FINANCE COMPANY LIMITED 0.45 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.59 LIMITED 0.45 SUNDRAM FASTENERS LIMITED 1.51 LIMITED 0.42 LIC HOUSING FINANCE LIMITED 1.43 POLYCAB INDIA LIMITED 1.24 LIMITED 1.23 BAYER CROPSCIENCE LIMITED 1.21 JINDAL STEEL & POWER LIMITED 1.20 TVS MOTOR COMPANY LIMITED 1.19 LIMITED 1.17 PI INDUSTRIES LIMITED 1.13

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 15.79 FOOD & BEVERAGE SERVICE ACTIVITIES 2.46 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 13.49 MANUFACTURE OF RUBBER AND PLASTICS PRODUCTS 2.45 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 10.53 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 2.19 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.65 SCIENTIFIC RESEARCH AND DEVELOPMENT 1.88 INFRASTRUCTURE 6.53 CONSTRUCTION OF BUILDINGS 0.98 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL EQUIPMENTS 5.45 PRODUCTS 0.74 MANUFACTURE OF ELECTRICAL EQUIPMENTS 4.68 FINANCIAL INTERMEDIATION, EXCEPT INSURANCE AND PENSION MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 4.17 FUNDING 0.62 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 4.05 MANUFACTURE OF LEATHER AND RELATED PRODUCTS 0.50 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.04 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.45 MANUFACTURE OF BASIC METALS 3.26 MANUFACTURE OF FOOD PRODUCTS 3.11 REAL ESTATE ACTIVITIES 2.58

Indepth | May 2021 | 12 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.81% 2.12%

EQUITIES 80% – 100% 96.57% Return 6 Month 34.55% 41.77%

Returns 1 Year 65.21% 79.20% FIXED INCOME 0% - SECURITIES Returns 2 Year 19.74% 17.31%

MONEY MARKET 0% TO 20% 3.43% Returns 3 Year 10.86% 6.03% INSTRUMENT Inception 13.53% 9.80%

Indepth | May 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 : 30.4603 AUM : 140.25Cr Portfolio Duration : 5.63 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 36.94 0 - 5 YEARS 27.21 SOVEREIGN 36.94 AAA 56.07 5 - 10 YEARS 46.24 FINANCIAL AND INSURANCEA CTIVITIES 21.22 CASH & CASH EQUIVALENTS 6.99 THAN 10 YEARS 26.55 INFRASTRUCTURE 21.73 Total 100.00 Total 100.00 HOUSING SECTOR 13.12 OTHERS 6.99 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

8.33% GSEC MD 07/06/2036 11.86 7.90% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 6.22% GSEC MD 16/03/2035 9.92 MD.24/08/2026 2.28 6.45% GSEC MD 07/10/2029 9.22 7.17% GSEC MD 08/01/2028 2.07 8.65% RELIANCE INDUSTRIES LTD 11/12/2028 7.68 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 04/05/2030 1.22 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 7.55 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 0.81 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 7.32 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 0.58 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 6.26 7.72% GSEC MD 26/102055 0.32 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.85 9.45% NCD POWER FINANCE CORPORATION LTD. MD 01/09/2026 0.24 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.83 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.08 10.21% NCD BAJAJ FINANCE LTD. MD 22/08/2022 3.81 9.23% GSEC MD 23/12/2043 0.03 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.60 6.67% GSEC MD 17/12/2050 0.01 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD MD 7.63% GSEC MD 17/06/2059 0.002 17/06/2030 3.52 7.08% STATE GOVT OF GUJARAT MD 10/03/2031 3.51 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.45

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark Return 1 Month 0.76% 0.83%

EQUITIES 0% - Return 6 Month 1.27% 1.46%

Returns 1 Year 6.83% 7.81% FIXED INCOME 60% - 100% 93.01% SECURITIES Returns 2 Year 10.20% 10.56%

Returns 3 Year 9.44% 9.73% MONEY MARKET 0% – 40% 6.99% INSTRUMENT Inception 9.16% 8.39%

Indepth | May 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 : 24.4072 AUM : 6.46 Cr Portfolio Duration : 5.62 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 40.53 0 - 5 YEARS 24.79 SOVEREIGN 40.53 AAA 52.20 5 - 10 YEARS 50.06 FINANCIAL AND INSURANCE ACTIVITIES 19.06 CASH & CASH EQUIVALENTS 7.27 MORE THAN 10 YEARS 25.15 INFRASTRUCTURE 22.96 Total 100.00 Total 100.00 HOUSING 10.17 OTHERS 7.27 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

8.33% GSEC MD 07/06/2036 10.73 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 6.45% GSEC MD 07/10/2029 10.47 MD 17/06/2030 3.18 6.22% GSEC MD 16/03/2035 10.44 7.08% STATE GOVT OF GUJARAT MD 10/03/2031 3.18 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 8.61 9.30% NCD POWER GRID CORPORATION MD 28/06/2027 2.21 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 6.99 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 8.65% RELIANCE INDUSTRIES LTD 11/12/2028 6.95 04/05/2030 1.76 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 6.90 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 1.76 7.17% GSEC MD 08/01/2028 5.71 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.55 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.48 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.46 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.33

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.76% 0.83%

EQUITIES 0% - Return 6 Month 1.35% 1.46%

Returns 1 Year 6.91% 7.81% FIXED INCOME SECURITIES Returns 2 Year 10.16% 10.56%

100% 100% Returns 3 Year 9.25% 9.73% MONEY MARKET INSTRUMENT Inception 7.52% 7.92%

Indepth | May 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 : 22.1400 AUM : 38.10 Cr Portfolio Duration : 1.25 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 66.35 MORE THAN 6 MONTHS 61.91 SOVEREIGN 66.35 AAA 21.81 LESS THAN 6 MONTHS 38.09 FINANCIAL AND INSURANCE ACTIVITIES 13.78 A1+ 0.65 Total 100.00 INFRASTRUCTURE 8.51 CASH & CASH EQUIVALENTS 11.19 OTHERS 11.36 Total 100.00 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.17% GSEC MD 15/07/2021 25.33 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 4.67 7.68% GSEC MD 15/12/2023 15.04 364 DAYS TREASURY BILL MD 22/07/2021 2.08 7.89% STATE GOVT OF MD 31/01/2024 11.62 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.65 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 8.51 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 0.29 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 8.17 8% NCD BRITANNIA INDUSTRIES LTD. MD 28/08/2022 0.17 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 7.26 364 DAYS TREASURY BILL MD 16/12/2021 5.01

ASSETASSET ALLOCATION ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.44% 0.30%

EQUITIES 0% - Return 6 Month 1.14% 1.78%

Returns 1 Year 4.32% 3.95% FIXED INCOME 60% -100% 88.16% SECURITIES Returns 2 Year 5.84% 5.35%

Returns 3 Year 3.17% 5.93% MONEY MARKET 0% – 40% 11.84% INSTRUMENT Inception 6.48% 7.16%

Indepth | May 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 : 22.6820 AUM : 1.41 Cr Portfolio Duration : 1.28 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 82.79 MORE THAN 6 MONTHS 64.78 SOVEREIGN 82.79 AAA 7.62 LESS THAN 6 MONTHS 35.22 HOUSING SECTOR 7.62 9.59 CASH & CASH EQUIVALENTS 9.59 Total 100.00 OTHERS TOTAL 100.00 Total 100.00

DEBT HOLDINDS % of AUM

6.17% GSEC MD 15/07/2021 27.01 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 26.40 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 14.58 7.68% GSEC MD 15/12/2023 11.35 7.99% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 11/07/2024 7.62 364 DAYS TREASURY BILL MD 16/12/2021 3.46

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.43% 0.30%

EQUITIES 0% - Return 6 Month 1.32% 1.78%

Returns 1 Year 4.59% 3.95% FIXED INCOME SECURITIES Returns 2 Year 5.32% 5.35%

100% 100% Returns 3 Year 5.49% 5.93% MONEY MARKET INSTRUMENT Inception 6.82% 7.06%

Indepth | May 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 : 26.9736 AUM : 0.36 Cr Portfolio Duration : 3.91 Benchmark : CRISIL COMPOSITE BOND FUND (80%) + Large-cap Equity Index(20%)

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 68.22 0 - 5 YEARS 23.01 SOVEREIGN 68.22 CASH & CASH EQUIVALENTS 31.78 5 - 10 YEARS 54.29 OTHERS 31.78 Total 100.00 MORE THAN 10 YEARS 22.70 Total 100.00 Total 100.00

EQUITY HOLDINDS % of AUM EQUITY HOLDINDS % of AUM

RELIANCE INDUSTRIES LIMITED 1.71 TATA MOTORS LIMITED 0.20 HDFC BANK LIMITED 1.60 HINDALCO INDUSTRIES LIMITED 0.20 INFOSYS LIMITED 1.31 GRASIM INDUSTRIES LIMITED 0.19 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.21 POWER GRID CORPORATION OF INDIA LIMITED 0.19 ICICI BANK LIMITED 1.16 INDUSIND BANK LIMITED 0.18 TATA CONSULTANCY SERVICES LIMITED 0.84 MARUTI SUZUKI INDIA LIMITED 0.18 KOTAK MAHINDRA BANK LIMITED 0.68 CIPLA LIMITED 0.18 ITC LIMITED 0.55 ULTRATECH CEMENT LIMITED 0.17 HINDUSTAN UNILEVER LIMITED 0.52 DR REDDYS LABORATORIES LIMITED 0.14 AXIS BANK LIMITED 0.50 NTPC LIMITED 0.13 BAJAJ FINANCE LIMITED 0.45 BHARAT PETROLEUM CORPORATION LIMITED 0.13 LARSEN & TOUBRO LIMITED 0.41 UPL LIMITED 0.12 STATE BANK OF INDIA 0.38 OIL & NATURAL GAS CORPORATION LIMITED 0.12 ASIAN PAINTS LIMITED 0.35 BAJAJ AUTO LIMITED 0.11 HCL TECHNOLOGIES LIMITED 0.35 BRITANNIA INDUSTRIES LIMITED 0.10 BHARTI AIRTEL LIMITED 0.34 HDFC LIFE INSURANCE COMPANY LIMITED 0.09 BAJAJ FINSERV LIMITED 0.31 HERO MOTOCORP LIMITED 0.08 WIPRO LIMITED 0.29 TATA CONSUMER PRODUCTS LIMITED 0.07 TATA STEEL LIMITED 0.29 INDIAN OIL CORPORATION LIMITED 0.07 JSW STEEL LIMITED 0.28 COAL INDIA LIMITED 0.07 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.27 SBI LIFE INSURANCE COMPANY LIMITED 0.05 MAHINDRA & MAHINDRA LIMITED 0.27 YES BANK LIMITED 0.01 TECH MAHINDRA LIMITED 0.24 TITAN COMPANY LIMITED 0.21

DEBT HOLDINGS % of AUM

7.17% GSEC MD 08/01/2028 23.35 8.15% GSEC MD 24/11/2026 15.24 7.40% GSEC MD 09/09/2035 14.74 6.45% GSEC MD 07/10/2029 5.59 6.17% GSEC MD 15/07/2021 5.57 6.22% GSEC MD 16/03/2035 2.67 9.23% GSEC MD 23/12/2043 1.06

Indepth | May 2021 | 18 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 6.62 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 3.03 INFRASTRUCTURE 2.69 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 0.99 MANUFACTURE OF BASIC METALS 0.77 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 0.59 MANUFACTURE OF TOBACCO PRODUCTS 0.55 CIVIL ENGINEERING 0.41 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.38 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.27 OTHER MANUFACTURING 0.21 MANUFACTURE OF TEXTILES 0.19 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.18 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.17 MANUFACTURE OF FOOD PRODUCTS 0.17 MINING OF COAL AND LIGNITE 0.07 SOVERIGN 68.22

ASSET ALLOCATION PERFORMANCE

Period Fund Benchmark F&U ACTUAL Return 1 Month 0.61% 0.58% EQUITIES 0% – 20% 17.30% Return 6 Month 5.08% 6.30%

FIXED INCOME 50% – 100% Returns 1 Year 12.32% 15.92% SECURITIES 68.22% Returns 2 Year 9.52% 10.76% MONEY MARKET INSTRUMENT 0 % – 40% 14.48% Returns 3 Year 8.76% 9.95%

Inception 8.80% 8.55%

Indepth | May 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 : 29.7006 AUM : 21.66 Cr Portfolio Duration : 4.80 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE

GOVT BONDS 32.72 AAA 7.49 A1+ 0.68 CASH & CASH EQUIVALENTS 59.10 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.52 TECH MAHINDRA LIMITED 0.51 HDFC BANK LIMITED 5.19 NESTLE INDIA LIMITED 0.50 INFOSYS LIMITED 4.25 POWER GRID CORPORATION OF INDIA LIMITED 0.49 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.82 GRASIM INDUSTRIES LIMITED 0.48 ICICI BANK LIMITED 3.65 INDUSIND BANK LIMITED 0.47 TATA CONSULTANCY SERVICES LIMITED 2.73 HDFC LIFE INSURANCE COMPANY LIMITED 0.46 KOTAK MAHINDRA BANK LIMITED 1.81 HINDALCO INDUSTRIES LIMITED 0.46 HINDUSTAN UNILEVER LIMITED 1.80 TATA MOTORS LIMITED 0.45 ITC LIMITED 1.52 DIVIS LABORATORIES LIMITED 0.44 LARSEN & TOUBRO LIMITED 1.40 BAJAJ AUTO LIMITED 0.43 AXIS BANK LIMITED 1.31 NTPC LIMITED 0.43 BAJAJ FINANCE LIMITED 1.27 CIPLA LIMITED 0.40 STATE BANK OF INDIA 1.19 BRITANNIA INDUSTRIES LIMITED 0.35 BHARTI AIRTEL LIMITED 1.11 OIL & NATURAL GAS CORPORATION LIMITED 0.34 ASIAN PAINTS LIMITED 0.98 SHREE CEMENT LIMITED 0.32 HCL TECHNOLOGIES LIMITED 0.84 SBI LIFE INSURANCE COMPANY LIMITED 0.32 MARUTI SUZUKI INDIA LIMITED 0.74 HERO MOTOCORP LIMITED 0.31 TATA STEEL LIMITED 0.67 BHARAT PETROLEUM CORPORATION LIMITED 0.29 WIPRO LIMITED 0.63 EICHER MOTORS LIMITED 0.29 ULTRATECH CEMENT LIMITED 0.62 UPL LIMITED 0.29 MAHINDRA & MAHINDRA LIMITED 0.62 COAL INDIA LIMITED 0.24 JSW STEEL LIMITED 0.61 TATA CONSUMER PRODUCTS LIMITED 0.23 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.61 INDIAN OIL CORPORATION LIMITED 0.20 BAJAJ FINSERV LIMITED 0.59 YES BANK LIMITED 0.03 DR REDDYS LABORATORIES LIMITED 0.54 TITAN COMPANY LIMITED 0.53

DEBT HOLDINDS % of AUM DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 14.54 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 0.52 6.22% GSEC MD 16/03/2035 9.78 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.50 7.17% GSEC MD 08/01/2028 3.74 8.15% GSEC MD 24/11/2026 0.25 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 3.74 8.83% GSEC MD 12/12/2041 0.17 6.45% GSEC MD 07/10/2029 3.63 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 1.59 9.41% NCD INDIA INFRASTRUCTURE FINANCE COMPANY LTD. MD 27/07/2037 1.14 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.68 8.03% FOOD CORPORATION OF INDIA SPCIAL BOND MD 15/12/2024 0.60

Indepth | May 2021 | 20 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.37 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.96 INFRASTRUCTURE 13.75 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.07 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.98 MANUFACTURE OF BASIC METALS 1.74 MANUFACTURE OF TOBACCO PRODUCTS 1.52 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.48 CIVIL ENGINEERING 1.40 MANUFACTURE OF FOOD PRODUCTS 1.08 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.95 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.74 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.62 OTHER MANUFACTURING 0.53 MANUFACTURE OF TEXTILES 0.48 MINING OF COAL AND LIGNITE 0.24 HOUSING SECTOR 0.52 SOVERIGN 32.72

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.08% 0.03%

EQUITIES 30% – 70% 53.25% Return 6 Month 12.82% 17.20%

Returns 1 Year 26.53% 34.19% FIXED INCOME SECURITIES Returns 2 Year 9.70% 11.21% 30% – 70% 46.75% Returns 3 Year 8.88% 10.45% MONEY MARKET INSTRUMENT Inception 8.94% 9.37%

Indepth | May 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 : 32.7525 AUM : 3.42 Cr Portfolio Duration : 4.88 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 26.42 SOVEREIGN 26.42 AAA 12.87 INFRASTRUCTURE 6.26 CASH & CASH EQUIVALENTS 60.71 HOUSING SECTOR 6.61 Total 100.00 OTHERS 60.71 TOTAL 100.00

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.06 DR REDDYS LABORATORIES LIMITED 0.48 HDFC BANK LIMITED 4.96 NESTLE INDIA LIMITED 0.48 INFOSYS LIMITED 3.89 TECH MAHINDRA LIMITED 0.47 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.50 HDFC LIFE INSURANCE COMPANY LIMITED 0.45 ICICI BANK LIMITED 3.35 GRASIM INDUSTRIES LIMITED 0.45 TATA CONSULTANCY SERVICES LIMITED 2.50 POWER GRID CORPORATION OF INDIA LIMITED 0.44 KOTAK MAHINDRA BANK LIMITED 2.07 INDUSIND BANK LIMITED 0.44 HINDUSTAN UNILEVER LIMITED 1.65 HINDALCO INDUSTRIES LIMITED 0.42 AXIS BANK LIMITED 1.46 DIVIS LABORATORIES LIMITED 0.42 ITC LIMITED 1.39 TATA MOTORS LIMITED 0.41 LARSEN & TOUBRO LIMITED 1.28 CIPLA LIMITED 0.40 BAJAJ FINANCE LIMITED 1.18 BAJAJ AUTO LIMITED 0.39 STATE BANK OF INDIA 1.10 NTPC LIMITED 0.39 BHARTI AIRTEL LIMITED 1.01 SHREE CEMENT LIMITED 0.33 ASIAN PAINTS LIMITED 0.93 BRITANNIA INDUSTRIES LIMITED 0.32 HCL TECHNOLOGIES LIMITED 0.79 OIL & NATURAL GAS CORPORATION LIMITED 0.31 MARUTI SUZUKI INDIA LIMITED 0.70 HERO MOTOCORP LIMITED 0.30 TATA STEEL LIMITED 0.61 SBI LIFE INSURANCE COMPANY LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.58 BHARAT PETROLEUM CORPORATION LIMITED 0.27 JSW STEEL LIMITED 0.58 EICHER MOTORS LIMITED 0.26 WIPRO LIMITED 0.57 UPL LIMITED 0.26 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.57 COAL INDIA LIMITED 0.22 ULTRATECH CEMENT LIMITED 0.57 TATA CONSUMER PRODUCTS LIMITED 0.21 BAJAJ FINSERV LIMITED 0.55 INDIAN OIL CORPORATION LIMITED 0.20 TITAN COMPANY LIMITED 0.51 YES BANK LIMITED 0.02

DEBT HOLDINDS % of AUM

7.17% GSEC MD 08/01/2028 7.71 7.95% FERTILISER BOND MD 18/02/2026 7.61 6.22% GSEC MD 16/03/2035 7.05 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 6.61 7.40% GSEC MD 09/09/2035 4.05 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.15 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 3.11

Indepth | May 2021 | 22 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 19.36 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.22 INFRASTRUCTURE 13.93 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.84 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.87 MANUFACTURE OF BASIC METALS 1.60 MANUFACTURE OF TOBACCO PRODUCTS 1.39 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.37 CIVIL ENGINEERING 1.28 MANUFACTURE OF FOOD PRODUCTS 1.01 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.90 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.69 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.58 OTHER MANUFACTURING 0.51 MANUFACTURE OF TEXTILES 0.45 MINING OF COAL AND LIGNITE 0.22 HOUSING SECTOR 6.61 SOVEREIGN 26.42

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.04% 0.03%

EQUITIES 30%-70% 49.95% Return 6 Month 12.80% 17.20%

Returns 1 Year 27.14% 34.19% FIXED INCOME SECURITIES Returns 2 Year 9.76% 11.21%

30% -70% 50.05% Returns 3 Year 9.22% 10.45% MONEY MARKET INSTRUMENT Inception 10.06% 12.35%

Indepth | May 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 : 22.0641 AUM : 22.81 Cr Portfolio Duration : 4.88 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 30.41 SOVEREIGN 30.41 AAA 5.26 FINANCIAL AND INSURANCE ACTIVITIES 2.67 A1+ 2.17 INFRASTRUCTURE 3.77 CASH & CASH EQUIVALENTS 62.16 HOUSING SECTOR 0.99 Total 100.00 OTHERS 62.16 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.64 NESTLE INDIA LIMITED 0.50 HDFC BANK LIMITED 4.89 POWER GRID CORPORATION OF INDIA LIMITED 0.49 INFOSYS LIMITED 4.34 GRASIM INDUSTRIES LIMITED 0.48 ICICI BANK LIMITED 3.73 INDUSIND BANK LIMITED 0.48 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.45 HDFC LIFE INSURANCE COMPANY LIMITED 0.47 TATA CONSULTANCY SERVICES LIMITED 2.74 HINDALCO INDUSTRIES LIMITED 0.46 ULTRATECH CEMENT LIMITED 1.95 TATA MOTORS LIMITED 0.45 KOTAK MAHINDRA BANK LIMITED 1.85 DIVIS LABORATORIES LIMITED 0.45 LARSEN & TOUBRO LIMITED 1.84 BAJAJ AUTO LIMITED 0.43 HINDUSTAN UNILEVER LIMITED 1.81 NTPC LIMITED 0.43 ITC LIMITED 1.52 CIPLA LIMITED 0.40 AXIS BANK LIMITED 1.32 BRITANNIA INDUSTRIES LIMITED 0.35 BAJAJ FINANCE LIMITED 1.28 OIL & NATURAL GAS CORPORATION LIMITED 0.34 STATE BANK OF INDIA 1.20 SBI LIFE INSURANCE COMPANY LIMITED 0.32 BHARTI AIRTEL LIMITED 1.11 SHREE CEMENT LIMITED 0.32 ASIAN PAINTS LIMITED 0.98 HERO MOTOCORP LIMITED 0.32 HCL TECHNOLOGIES LIMITED 0.84 UPL LIMITED 0.30 MARUTI SUZUKI INDIA LIMITED 0.74 BHARAT PETROLEUM CORPORATION LIMITED 0.29 TATA STEEL LIMITED 0.67 EICHER MOTORS LIMITED 0.29 WIPRO LIMITED 0.63 COAL INDIA LIMITED 0.24 MAHINDRA & MAHINDRA LIMITED 0.62 TATA CONSUMER PRODUCTS LIMITED 0.22 JSW STEEL LIMITED 0.61 INDIAN OIL CORPORATION LIMITED 0.20 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.61 YES BANK LIMITED 0.02 BAJAJ FINSERV LIMITED 0.59 DR REDDYS LABORATORIES LIMITED 0.54 TITAN COMPANY LIMITED 0.54 TECH MAHINDRA LIMITED 0.51

Indepth | May 20211 | 24 DEBT HOLDINGS % of AUM

6.22% GSEC MD 16/03/2035 10.09 7.95% FERTILISER BOND MD 18/02/2026 8.43 7.17% GSEC MD 08/01/2028 3.69 6.45% GSEC MD 07/10/2029 3.19 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 2.37 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 2.34 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 2.17 7.72% GSEC MD 26/102055 1.72 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 0.99 7.40% GSEC MD 09/09/2035 0.96 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 0.50 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.47 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.47 7.75% POWER FINANCE CORPORATION LIMITED 11/06/2030 0.46

INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.28 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 9.07 INFRASTRUCTURE 12.27 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.09 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.26 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.99 CIVIL ENGINEERING 1.84 MANUFACTURE OF BASIC METALS 1.74 MANUFACTURE OF TOBACCO PRODUCTS 1.52 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.49 MANUFACTURE OF FOOD PRODUCTS 1.07 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.75 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.62 OTHER MANUFACTURING 0.54 MANUFACTURE OF TEXTILES 0.48 MINING OF COAL AND LIGNITE 0.24 HOUSING SECTOR 0.99 SOVERIGN 30.41

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.12% 0.03%

EQUITIES 20%-80% 54.80% Return 6 Month 13.06% 17.20%

Returns 1 Year 26.46% 34.19% FIXED INCOME SECURITIES Returns 2 Year 9.39% 11.21% 20%-80% 45.20% Returns 3 Year 8.82% 10.45% MONEY MARKET INSTRUMENT Inception 7.74% 8.86%

Indepth | May 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 : 20.6017 AUM : 26.39 Cr Portfolio Duration : 0.48

RATING PROFILE SECTORAL PROFILE Current NAV 20.6017 GOVT BONDS 15.01 SOVEREIGN 15.01 CASH & CASH EQUIVALENTS 84.99 OTHERS 84.99 Max NAV 21.3641 Total 100.00 Total 100.00 80% of Max NAV 17.0912

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 6.17 WIPRO LIMITED 0.77 HDFC BANK LIMITED 5.72 HINDALCO INDUSTRIES LIMITED 0.75 INFOSYS LIMITED 5.15 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.74 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.05 TATA MOTORS LIMITED 0.73 ICICI BANK LIMITED 3.86 DIVIS LABORATORIES LIMITED 0.72 TATA CONSULTANCY SERVICES LIMITED 3.35 NTPC LIMITED 0.69 HINDUSTAN UNILEVER LIMITED 2.91 BAJAJ AUTO LIMITED 0.69 KOTAK MAHINDRA BANK LIMITED 2.47 BAJAJ FINSERV LIMITED 0.64 ITC LIMITED 2.46 CIPLA LIMITED 0.64 LARSEN & TOUBRO LIMITED 2.29 INDUSIND BANK LIMITED 0.63 BHARTI AIRTEL LIMITED 1.79 TECH MAHINDRA LIMITED 0.63 AXIS BANK LIMITED 1.73 BRITANNIA INDUSTRIES LIMITED 0.56 ASIAN PAINTS LIMITED 1.59 OIL & NATURAL GAS CORPORATION LIMITED 0.55 BAJAJ FINANCE LIMITED 1.39 HDFC LIFE INSURANCE COMPANY LIMITED 0.53 STATE BANK OF INDIA 1.30 SHREE CEMENT LIMITED 0.53 MARUTI SUZUKI INDIA LIMITED 1.19 HERO MOTOCORP LIMITED 0.51 TATA STEEL LIMITED 1.07 EICHER MOTORS LIMITED 0.47 HCL TECHNOLOGIES LIMITED 1.03 UPL LIMITED 0.46 ULTRATECH CEMENT LIMITED 1.00 BHARAT PETROLEUM CORPORATION LIMITED 0.46 JSW STEEL LIMITED 1.00 COAL INDIA LIMITED 0.39 MAHINDRA & MAHINDRA LIMITED 1.00 TATA CONSUMER PRODUCTS LIMITED 0.38 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.98 SBI LIFE INSURANCE COMPANY LIMITED 0.35 TITAN COMPANY LIMITED 0.87 INDIAN OIL CORPORATION LIMITED 0.33 DR REDDYS LABORATORIES LIMITED 0.87 YES BANK LIMITED 0.02 NESTLE INDIA LIMITED 0.81 POWER GRID CORPORATION OF INDIA LIMITED 0.79 GRASIM INDUSTRIES LIMITED 0.78

DEBT HOLDINGS % of AUM

364 DAYS TREASURY BILL MD 14/04/2022 10.98 364 DAYS TREASURY BILL MD 07/04/2022 3.66 364 DAYS TREASURY BILL MD 16/09/2021 0.37

Indepth | May 2021 | 26 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.70 INFRASTRUCTURE 11.51 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 10.93 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.97 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.20 MANUFACTURE OF BASIC METALS 2.82 MANUFACTURE OF TOBACCO PRODUCTS 2.46 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.39 CIVIL ENGINEERING 2.29 MANUFACTURE OF FOOD PRODUCTS 1.75 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.53 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.20 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.00 OTHER MANUFACTURING 0.87 MANUFACTURE OF TEXTILES 0.78 MINING OF COAL AND LIGNITE 0.39 SOVERIGN 15.01

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark

Return 1 Month -0.43% 0.03% EQUITIES 0%-100% 70.78% Return 6 Month 12.95% 17.20%

Returns 1 Year 18.48% 34.19% FIXED INCOME SECURITIES Returns 2 Year 1.68% 11.21% 0%-100% 29.22% Returns 3 Year 3.51% 10.45% MONEY MARKET INSTRUMENT Inception 6.40% 9.41%

*T&C apply. Indepth | May 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 is focused on fulfilling its vision of creating tension-free lives. Pursuing the same goal, we provide a complete product suite, customized advice, and are constantly looking to enhance the overall customer experience. Aegon Life was formed with the coming together of Aegon N. V, an international provider of life insurance, pensions and asset management, and Bennett Coleman and Company, India's largest media popularly known as the Times Group. This union brings together a local approach, with global expertise of launching products that cater to different sets of customers to meet their long-term financial goals. The company is headquartered in , India, with its branches across various cities. It serves 3 Lakh+ customers serving the vision- Aegon, toh tension gone.

ABOUT AEGON

Aegon’s roots date back to over 175 years ago. They operate in over 20 countries, including the United States, where they are known as Transamerica. Their head office, however, can still be found in The Hague, the Netherlands. Aegon is committed to helping their customers achieve a healthy and financially secure future. This commitment requires a sustainable, long-term-oriented business that takes their customers, the environment and the communities where they are active, into consideration.

ABOUT BENNETT, COLEMAN & COMPANY LIMITED

The Times Group is one of the leading media conglomerates in India having its presence in print, radio, TV, outdoor media, and the internet through Bennett, Coleman and Company Limited (BCCL), and its subsidiaries. , the flagship brand of the company, is the top-selling 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 | May 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: A - 201, 2nd Floor, Leela Business Park, Andheri-Kurla Road, Andheri (E), Mumbai - 400059.

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 A - 201, 2nd Floor, Leela Business Park, Andheri-Kurla Road, Andheri (E), Mumbai - 400059. Tel: +91 2261180100 | Fax: 02261180200/300 E-mail: [email protected] Website : www.aegonlife.com

Indepth | May 2021 | 30