MARCH 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 | Mar 2021 | 2 Commentary on the Indian Securities Market for February 2021

Nifty (up 6.5%) was up for the month after a correction in January as the markets were enthused by a pro-growth Budget. In the budget, the government signalled its inten- tion to support growth without any meaningful change in tax regime. The active covid cases has seen a slight uptick in the month of February. The vaccination program has entered the second phase in the country with senior citizens and comorbid patients also eligible to receive vaccination from 1st March.

The dollar index was up for second month in a row. It was up 0.3% and closed at 90.88 level. The rupee depreciated after three months of appreciation. It depreciated by 51 paise to end at 73.46 level.

Brent crude continued its upmove and was up another 18% to close above $65 mark. It has moved up by 78% in the last four months. Gold corrected by 6% to close at $1734.

Foreign institutional investors (FIIs) investment continued to be strong in February with inflow of $3.5 bn.

Domestic institutional investors (DIIs) continued to be net sellers as outflows in Equity mutual funds continued for the seventh month in a row (outflows being slightly lower at 12194 crs in January vs 13121 crs in December).

Consumer price Index (CPI) continued to moderate with fall in food inflation. The CPI came at 4.06% in January vs 4.59% in December.

The Index of Industrial Production (IIP) was up marginally at 1% after contracting in November led by sector.

GST collections continued to be strong with February collections at 1.13 lakh crs, 7% YoY growth. This is a third month in a row where the collections have crossed 1.1 lakh crs.

Indepth | Mar 2021 | 3 ’s GDP grew 0.4% in Q3 after two quarters of de-growth. The GDP is expected to decline by 8% in FY21.

In March, markets will react to US stimulus package and progress of covid and vacci- Nifty (up 6.5%) was up for the month after a correction in January as the markets were nation in India and across the world. enthused by a pro-growth Budget. In the budget, the government signalled its inten- tion to support growth without any meaningful change in tax regime. The active covid Bond markets saw a jump in yields as the government announced considerably higher cases has seen a slight uptick in the month of February. The vaccination program has than anticipated borrowings for the coming fiscal at INR 12 trillion. The 10Y bench- entered the second phase in the country with senior citizens and comorbid patients mark yield jumped by about 30 basis points to around 6.23%. Although the RBI has also eligible to receive vaccination from 1st March. been intervening from time to time to keep yields under control, markets are likely to remain nervous given that the RBI has not announced a structured calendar of OMO The dollar index was up for second month in a row. It was up 0.3% and closed at 90.88 purchases in the face of the high borrowing programme of the government. The MPC, level. The rupee depreciated after three months of appreciation. It depreciated by 51 in its February review, kept status quo in rates, but minutes show that some members paise to end at 73.46 level. have been highlighting concerns about inflation. Going forward, markets will watch out for trends in inflation and high frequency growth indicators. Brent crude continued its upmove and was up another 18% to close above $65 mark. It has moved up by 78% in the last four months. Gold corrected by 6% to close at $1734.

Foreign institutional investors (FIIs) investment continued to be strong in February with inflow of $3.5 bn.

Domestic institutional investors (DIIs) continued to be net sellers as outflows in Equity mutual funds continued for the seventh month in a row (outflows being slightly lower at 12194 crs in January vs 13121 crs in December).

Consumer price Index (CPI) continued to moderate with fall in food inflation. The CPI came at 4.06% in January vs 4.59% in December.

The Index of Industrial Production (IIP) was up marginally at 1% after contracting in November led by manufacturing sector.

GST collections continued to be strong with February collections at 1.13 lakh crs, 7% YoY growth. This is a third month in a row where the collections have crossed 1.1 lakh crs.

Indepth | Mar 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 | Mar 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 : 34.9774 AUM : 102.05 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.82 LIMITED 1.76 LIMITED 8.52 LIMITED 1.60 HDFC LIMITED 6.56 LIMITED 1.43 ICICI BANK LIMITED 5.92 LIMITED 1.34 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.19 HCL TECHNOLOGIES LIMITED 1.34 SBI-ETF NIFTY BANK 4.40 DIVIS LABORATORIES LIMITED 1.18 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.28 LIMITED 1.14 LIMITED 4.12 ENDURANCE TECHNOLOGIES LIMITED 1.07 LIMITED 2.96 THE LIMITED 1.00 DR REDDYS LABORATORIES LIMITED 2.91 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.99 LARSEN & TOUBRO LIMITED 2.80 LIMITED 0.97 TATA CONSULTANCY SERVICES LIMITED 2.68 BOSCH LIMITED. 0.96 ITC LIMITED 2.48 LIMITED 0.95 CORPORATION LIMITED 2.25 INDUSIND BANK LIMITED 0.92 LIMITED 2.21 HDFC COMPANY LIMITED 0.60 LIMITED 2.06 JSW STEEL LIMITED 0.59 ULTRATECH CEMENT LIMITED 1.96 LIMITED 0.52 MAHINDRA & MAHINDRA LIMITED 1.94 LIMITED 0.49 STATE 1.84 (INDIA) LIMITED 0.46 NESTLE INDIA LIMITED 1.83 HONEYWELL AUTOMATION INDIA LIMITED 0.36 LIMITED 1.79

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.46 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.48 INFRASTRUCTURE 15.19 MANUFACTURE OF FOOD PRODUCTS 2.32 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.49 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.05 EQUIPMENTS 2.06 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.31 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.94 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.24 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.79 MANUFACTURE OF BASIC METALS 3.96 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.50 CIVIL ENGINEERING 2.80 INFORMATION SERVICE ACTIVITIES 0.46 MANUFACTURE OF TOBACCO PRODUCTS 2.48

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 6.91% 6.56% EQUITIES 75% TO 100% 97.20 % Return 6 Month 26.39% 27.59% FIXED INCOME SECURITIES 0 % TO 25% 2.80 % Returns 1 Year 28.84% 29.70% MONEY MARKET INSTRUMENT Returns 2 Year 13.87% 16.03%

Returns 3 Year 9.73% 11.46%

Inception 10.44% 9.87%

Indepth | Mar 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 : 24.1720 AUM : 190.39 Cr Benchmark : S&P BSE 100

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 7.55 CIPLA LIMITED 0.84 INFOSYS LIMITED 7.32 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 0.84 HINDUSTAN UNILEVER LIMITED 5.28 BHARAT FORGE LIMITED 0.65 ICICI BANK LIMITED 4.73 GLAXOSMITHKLINE PHARMACEUTICALS LIMITED 0.09 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.70 HONEYWELL AUTOMATION INDIA LIMITED 4.67 SBI-ETF NIFTY BANK 4.65 TATA CONSULTANCY SERVICES LIMITED 4.37 HDFC BANK LIMITED 4.27 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.07 TATA MOTORS LIMITED 3.00 INDUSTRY % of AUM BHARTI AIRTEL LIMITED 2.95 LIMITED 2.57 FINANCIAL AND INSURANCE ACTIVITIES 23.95 2.56 INDUSIND BANK LIMITED 2.54 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 11.69 INDIA LIMITED 2.26 INFRASTRUCTURE 10.50 TATA STEEL LIMITED 2.22 ENDURANCE TECHNOLOGIES LIMITED 2.07 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 10.33 LIMITED 2.02 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 7.18 DIVIS LABORATORIES LIMITED 1.88 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 4.67 DR REDDYS LABORATORIES LIMITED 1.76 ABB INDIA LIMITED 1.59 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 4.56 LIMITED 1.32 MANUFACTURE OF BASIC METALS 3.23 LIMITED 1.14 HDFC LIFE INSURANCE COMPANY LIMITED 1.14 MANUFACTURE OF ELECTRICAL EQUIPMENTS 2.43 NESTLE INDIA LIMITED 1.12 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.02 SBI CARDS AND PAYMENT SERVICES PRIVATE LIMITED 1.11 SUNDRAM FASTENERS LIMITED 1.08 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA EQUIPMENTS 1.73 LIMITED 1.06 INFO EDGE (INDIA) LIMITED 1.04 OTHER MANUFACTURING 1.32 ULTRATECH CEMENT LIMITED 1.02 MANUFACTURE OF BEVERAGES 1.14 HINDALCO INDUSTRIES LIMITED 1.02 MANUFACTURE OF FOOD PRODUCTS 1.12 SHREE CEMENT LIMITED 1.00 BOSCH LIMITED. 0.99 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.06 LIMITED 0.98 INFORMATION SERVICE ACTIVITIES 1.04 AXIS BANK LIMITED 0.96 ITC LIMITED 0.93 MANUFACTURE OF TOBACCO PRODUCTS 0.93 LIMITED 0.92

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 5.25% 6.71%

EQUITIES 80% – 100% 98.26% Return 6 Month 23.63% 28.25%

Returns 1 Year 27.04% 30.39% FIXED INCOME SECURITIES Returns 2 Year 16.75% 15.75%

0% TO 20% 1.74% Returns 3 Year 11.23% 10.66% MONEY MARKET INSTRUMENT Inception 8.84% 8.97%

Indepth | Mar 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 : 55.9535 AUM : 15.09 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.44 TATA STEEL LIMITED 1.66 INFOSYS LIMITED 8.17 HINDALCO INDUSTRIES LIMITED 1.59 HDFC BANK LIMITED 6.48 AXIS BANK LIMITED 1.41 ICICI BANK LIMITED 5.73 DEEPAK NITRITE LIMITED 1.31 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.17 DIVIS LABORATORIES LIMITED 1.16 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.42 BHARAT ELECTRONICS LIMITED 1.11 SBI-ETF NIFTY BANK 4.37 ENDURANCE TECHNOLOGIES LIMITED 1.07 BHARTI AIRTEL LIMITED 4.26 INDUSIND BANK LIMITED 1.01 HINDUSTAN UNILEVER LIMITED 2.91 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.99 DR REDDYS LABORATORIES LIMITED 2.80 CIPLA LIMITED 0.97 LARSEN & TOUBRO LIMITED 2.66 THE FEDERAL BANK LIMITED 0.96 TATA CONSULTANCY SERVICES LIMITED 2.55 BOSCH LIMITED. 0.94 ITC LIMITED 2.46 WIPRO LIMITED 0.78 BHARAT PETROLEUM CORPORATION LIMITED 2.15 JSW STEEL LIMITED 0.57 TATA MOTORS LIMITED 2.14 HDFC LIFE INSURANCE COMPANY LIMITED 0.55 BHARAT FORGE LIMITED 2.04 SHREE CEMENT LIMITED 0.53 MAHINDRA & MAHINDRA LIMITED 1.96 TATA CONSUMER PRODUCTS LIMITED 0.48 ULTRATECH CEMENT LIMITED 1.87 INFO EDGE (INDIA) LIMITED 0.46 STATE BANK OF INDIA 1.86 HONEYWELL AUTOMATION INDIA LIMITED 0.36 NESTLE INDIA LIMITED 1.75 BAJAJ AUTO LIMITED 1.73 HCL TECHNOLOGIES LIMITED 1.67

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.18 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.39 INFRASTRUCTURE 14.86 MANUFACTURE OF FOOD PRODUCTS 2.23 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.17 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 5.93 EQUIPMENTS 2.04 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.22 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.96 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.15 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.73 MANUFACTURE OF BASIC METALS 3.81 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.47 CIVIL ENGINEERING 2.66 INFORMATION SERVICE ACTIVITIES 0.46 MANUFACTURE OF TOBACCO PRODUCTS 2.46

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 6.79% 6.56% EQUITIES 75% - 100% 95.51% Return 6 Month 26.34% 27.59%

FIXED INCOME Returns 1 Year 29.18% 29.70% SECURITIES 0% TO 25% 4.49% Returns 2 Year 13.95% 16.03% MONEY MARKET INSTRUMENT Returns 3 Year 9.88% 11.46%

Inception 15.27% 14.40%

Indepth | Mar 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 : 52.5672 AUM : 8.71 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 10.48 POWER GRID CORPORATION OF INDIA LIMITED 0.90 HDFC BANK LIMITED 10.38 HDFC LIFE INSURANCE COMPANY LIMITED 0.88 INFOSYS LIMITED 7.22 TATA STEEL LIMITED 0.86 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.09 NTPC LIMITED 0.85 ICICI BANK LIMITED 6.41 DR REDDYS LABORATORIES LIMITED 0.85 TATA CONSULTANCY SERVICES LIMITED 4.74 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.81 KOTAK MAHINDRA BANK LIMITED 4.06 BAJAJ AUTO LIMITED 0.79 HINDUSTAN UNILEVER LIMITED 2.97 HINDALCO INDUSTRIES LIMITED 0.77 AXIS BANK LIMITED 2.80 LIMITED 0.74 ITC LIMITED 2.78 DIVIS LABORATORIES LIMITED 0.67 LARSEN & TOUBRO LIMITED 2.71 HERO MOTOCORP LIMITED 0.67 STATE BANK OF INDIA 2.33 OIL & NATURAL GAS CORPORATION LIMITED 0.64 LIMITED 2.17 CIPLA LIMITED 0.64 BHARTI AIRTEL LIMITED 2.13 LIMITED 0.62 ASIAN PAINTS LIMITED 1.64 BHARAT PETROLEUM CORPORATION LIMITED 0.61 HCL TECHNOLOGIES LIMITED 1.57 JSW STEEL LIMITED 0.60 MARUTI SUZUKI INDIA LIMITED 1.45 SHREE CEMENT LIMITED 0.58 MAHINDRA & MAHINDRA LIMITED 1.23 SBI LIFE INSURANCE COMPANY LIMITED 0.56 ULTRATECH CEMENT LIMITED 1.12 LIMITED 0.54 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.02 LIMITED 0.53 WIPRO LIMITED 0.97 UPL LIMITED 0.52 INDUSIND BANK LIMITED 0.96 GAIL (INDIA) LIMITED 0.45 TITAN COMPANY LIMITED 0.93 LIMITED 0.36 LIMITED 0.93 LIMITED 0.05 NESTLE INDIA LIMITED 0.92 TATA MOTORS LIMITED 0.92 LIMITED 0.91

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 38.62 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.70 INFRASTRUCTURE 17.23 MANUFACTURE OF FOOD PRODUCTS 1.54 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 15.40 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.45 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.12 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.23 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.18 OTHER MANUFACTURING 0.93 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.91 MANUFACTURE OF TEXTILES 0.74 MANUFACTURE OF TOBACCO PRODUCTS 2.78 MINING OF COAL AND LIGNITE 0.53 CIVIL ENGINEERING 2.71 MANUFACTURE OF BASIC METALS 2.23

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 6.58% 6.56% EQUITIES 98% - 100% 98.33% Return 6 Month 27.03% 27.59%

FIXED INCOME Returns 1 Year 29.04% 29.70% SECURITIES 0% TO 2% 1.67% Returns 2 Year 15.61% 16.03% MONEY MARKET INSTRUMENT Returns 3 Year 11.19% 11.46%

Inception 14.68% 14.86%

Indepth | Mar 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 : 28.7087 AUM : 15.18 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.50 BAJAJ AUTO LIMITED 1.75 INFOSYS LIMITED 8.37 HINDALCO INDUSTRIES LIMITED 1.60 HDFC BANK LIMITED 6.92 AXIS BANK LIMITED 1.52 ICICI BANK LIMITED 5.37 HCL TECHNOLOGIES LIMITED 1.32 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.07 DEEPAK NITRITE LIMITED 1.30 SBI-ETF NIFTY BANK 4.38 BHARAT ELECTRONICS LIMITED 1.15 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.29 DIVIS LABORATORIES LIMITED 1.14 BHARTI AIRTEL LIMITED 4.07 ENDURANCE TECHNOLOGIES LIMITED 1.06 DR REDDYS LABORATORIES LIMITED 2.92 THE FEDERAL BANK LIMITED 1.00 TATA CONSULTANCY SERVICES LIMITED 2.86 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.99 LARSEN & TOUBRO LIMITED 2.83 CIPLA LIMITED 0.96 HINDUSTAN UNILEVER LIMITED 2.48 BOSCH LIMITED. 0.93 ITC LIMITED 2.47 INDUSIND BANK LIMITED 0.92 TATA MOTORS LIMITED 2.21 WIPRO LIMITED 0.77 BHARAT PETROLEUM CORPORATION LIMITED 2.19 JSW STEEL LIMITED 0.59 BHARAT FORGE LIMITED 2.03 HDFC LIFE INSURANCE COMPANY LIMITED 0.58 ULTRATECH CEMENT LIMITED 1.95 SHREE CEMENT LIMITED 0.52 MAHINDRA & MAHINDRA LIMITED 1.94 TATA CONSUMER PRODUCTS LIMITED 0.48 STATE BANK OF INDIA 1.86 INFO EDGE (INDIA) LIMITED 0.45 NESTLE INDIA LIMITED 1.80 HONEYWELL AUTOMATION INDIA LIMITED 0.36 TATA STEEL LIMITED 1.76

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.25 MANUFACTURE OF FOOD PRODUCTS 2.29 INFRASTRUCTURE 14.77 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.32 EQUIPMENTS 2.03 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.01 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.94 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.21 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.75 MANUFACTURE OF BASIC METALS 3.96 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.50 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.78 INFORMATION SERVICE ACTIVITIES 0.45 CIVIL ENGINEERING 2.83 MANUFACTURE OF TOBACCO PRODUCTS 2.47 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.47

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 7.05% 6.56%

EQUITIES 80% TO 100% 95.7% Return 6 Month 26.75% 27.59%

Returns 1 Year 30.02% 29.70% FIXED INCOME SECURITIES Returns 2 Year 14.37% 16.03%

0 % – 20% 4.3% Returns 3 Year 10.48% 11.46% MONEY MARKET INSTRUMENT Inception 11.21% 9.91%

Indepth | Mar 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 : 16.8876 AUM : 158.58 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.47 HCL TECHNOLOGIES LIMITED 1.57 INFOSYS LIMITED 8.18 AXIS BANK LIMITED 1.40 HDFC BANK LIMITED 6.43 DEEPAK NITRITE LIMITED 1.35 ICICI BANK LIMITED 5.74 DIVIS LABORATORIES LIMITED 1.18 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.18 BHARAT ELECTRONICS LIMITED 1.11 SBI-ETF NIFTY BANK 4.55 ENDURANCE TECHNOLOGIES LIMITED 1.05 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.50 INDUSIND BANK LIMITED 1.02 BHARTI AIRTEL LIMITED 4.30 CIPLA LIMITED 1.00 HINDUSTAN UNILEVER LIMITED 2.84 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.97 DR REDDYS LABORATORIES LIMITED 2.79 THE FEDERAL BANK LIMITED 0.96 LARSEN & TOUBRO LIMITED 2.67 WIPRO LIMITED 0.94 TATA CONSULTANCY SERVICES LIMITED 2.65 BOSCH LIMITED. 0.94 ITC LIMITED 2.36 JSW STEEL LIMITED 0.57 BHARAT PETROLEUM CORPORATION LIMITED 2.13 HDFC LIFE INSURANCE COMPANY LIMITED 0.55 TATA MOTORS LIMITED 2.07 SHREE CEMENT LIMITED 0.50 BHARAT FORGE LIMITED 2.05 TATA CONSUMER PRODUCTS LIMITED 0.49 MAHINDRA & MAHINDRA LIMITED 1.96 INFO EDGE (INDIA) LIMITED 0.46 ULTRATECH CEMENT LIMITED 1.91 HONEYWELL AUTOMATION INDIA LIMITED 0.34 STATE BANK OF INDIA 1.88 INDIAN OIL CORPORATION LIMITED 0.004 NESTLE INDIA LIMITED 1.76 BRITANNIA INDUSTRIES LIMITED 0.003 BAJAJ AUTO LIMITED 1.74 BAJAJ FINANCE LIMITED 0.003 TATA STEEL LIMITED 1.71 EICHER MOTORS LIMITED 0.003 HINDALCO INDUSTRIES LIMITED 1.58

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.18 MANUFACTURE OF FOOD PRODUCTS 2.26 INFRASTRUCTURE 14.90 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.35 EQUIPMENTS 2.05 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 5.94 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.96 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.19 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.74 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.07 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.45 MANUFACTURE OF BASIC METALS 3.87 INFORMATION SERVICE ACTIVITIES 0.46 CIVIL ENGINEERING 2.67 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.41 MANUFACTURE OF TOBACCO PRODUCTS 2.36

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 6.80% 6.56%

EQUITIES 80% – 100% 95.91% Return 6 Month 26.27% 27.59%

Returns 1 Year 28.50% 29.70% FIXED INCOME SECURITIES 0% - Returns 2 Year 13.57% 16.03%

Returns 3 Year 9.35% 11.46% MONEY MARKET 0 % – 20% 4.09% INSTRUMENT Inception 8.84% 9.42%

Indepth | Mar 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 : 16.2753 AUM : 144.32 Cr Benchmark : NIFTY MIDCAP 100 INDUSTRY % of AUM

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

MAX LIMITED 3.59 LIMITED 1.30 BHARAT FORGE LIMITED 3.53 BATA INDIA LIMITED 1.26 DEEPAK NITRITE LIMITED 3.17 LIMITED 1.16 THE FEDERAL BANK LIMITED 3.15 AARTI INDUSTRIES LIMITED 1.16 BHARAT ELECTRONICS LIMITED 2.69 TVS MOTOR COMPANY LIMITED 1.15 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED 2.67 SUNDRAM FASTENERS LIMITED 1.10 LIMITED 2.48 LIC HOUSING FINANCE LIMITED 1.06 LIMITED 2.40 VARUN BEVERAGES LIMITED 1.03 THE LIMITED 2.38 PI INDUSTRIES LIMITED 1.01 JINDAL STEEL & POWER LIMITED 2.37 1.00 LIMITED 2.28 TATA CONSUMER PRODUCTS LIMITED 0.96 SRF LIMITED 2.26 RBL BANK LIMITED 0.93 ENDURANCE TECHNOLOGIES LIMITED 2.24 LIMITED 0.92 GUJARAT STATE PETRONET LIMITED 2.22 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA LIMITED 0.90 LIMITED 2.20 TUBE INVESTMENTS OF INDIA LIMITED 0.90 NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED 2.18 LIMITED 0.84 L&T TECHNOLOGY SERVICES LIMITED 2.15 MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED 0.82 GODREJ PROPERTIES LIMITED 2.11 WHIRLPOOL OF INDIA LIMITED 0.74 LIMITED 2.10 LIMITED 0.71 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 2.07 POLYCAB INDIA LIMITED 0.69 LIMITED 2.03 DHANUKA AGRITECH LIMITED 0.63 2.00 RALLIS INDIA LIMITED 0.53 LIMITED 2.00 WESTLIFE DEVELOPMENT LTD 0.51 SHRIRAM TRANSPORT FINANCE COMPANY LIMITED 1.97 LIMITED 0.45 BAYER CROPSCIENCE LIMITED 1.71 LIMITED 1.69 ASHOK LEYLAND LIMITED 1.64 GRAPHITE INDIA LIMITED 1.47 LIMITED 1.43 THE INDIAN HOTELS COMPANY LIMITED 1.43 SYNGENE INTERNATIONAL LIMITED 1.43 LIMITED 1.37 LIMITED 1.36 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.31

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 21.27 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 2.06 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 12.23 REAL ESTATE ACTIVITIES 2.00 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.04 ACCOMMODATION 1.43 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.13 SCIENTIFIC RESEARCH AND DEVELOPMENT 1.43 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 5.30 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.36 INFRASTRUCTURE 4.68 MANUFACTURE OF LEATHER AND RELATED PRODUCTS 1.26 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF BEVERAGES 1.03 EQUIPMENTS 4.64 MANUFACTURE OF FOOD PRODUCTS 0.96 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.88 MANUFACTURE OF RUBBER AND PLASTICS PRODUCTS 0.71 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 3.84 FOOD & BEVERAGE SERVICE ACTIVITIES 0.51 MANUFACTURE OF BASIC METALS 3.81 MANUFACTURE OF ELECTRICAL EQUIPMENTS 3.49 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 2.69 CONSTRUCTION OF BUILDINGS 2.11

Indepth | Mar 2021 | 12 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 9.44% 11.28%

EQUITIES 80% – 100% 94.85% Return 6 Month 35.43% 39.48%

Returns 1 Year 34.29% 38.62% FIXED INCOME 0% - SECURITIES Returns 2 Year 20.82% 17.96%

MONEY MARKET 0% TO 20% 5.15% Returns 3 Year 11.66% 5.77% INSTRUMENT Inception 12.94% 9.17%

Indepth | Mar 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 : 29.7429 AUM : 141.37Cr Portfolio Duration : 4.72 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 27.11 0 - 5 YEARS 36.29 SOVEREIGN 27.11 AAA 56.48 5 - 10 YEARS 48.24 FINANCIAL AND INSURANCEA CTIVITIES 21.05 CASH & CASH EQUIVALENTS 16.40 MORE THAN 10 YEARS 15.47 INFRASTRUCTURE 22.64 Total 100.00 Total 100.00 HOUSING SECTOR 12.80 OTHERS 16.40 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

8.65% RELIANCE INDUSTRIES LTD 11/12/2028 7.51 7.90% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 9.37% FINANCIAL SERVICES LTD. MD 31/03/2025 7.49 MD.24/08/2026 2.24 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 7.16 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.51 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 1.18 6.22% GSEC MD 16/03/2035 6.20 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 0.79 7.17% GSEC MD 08/01/2028 6.09 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 0.57 6.45% GSEC MD 07/10/2029 5.65 7.72% GSEC MD 26/102055 0.31 5.77% GSEC MD 03/08/2030 5.46 9.45% NCD POWER FINANCE CORPORATION LTD. MD 01/09/2026 0.24 10.21% NCD BAJAJ FINANCE LTD. MD 22/08/2022 3.79 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.07 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.76 9.23% GSEC MD 23/12/2043 0.03 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.62 6.67% GSEC MD 17/12/2050 0.01 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.56 7.63% GSEC MD 17/06/2059 0.002 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD MD 17/06/2030 3.40 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.38 6.97% SDL MD 30/09/2031 3.36

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark Return 1 Month -2.47% -1.77%

EQUITIES 0% - Return 6 Month 1.18% 1.39%

Returns 1 Year 6.05% 6.97% FIXED INCOME 60% - 100% 83.60% SECURITIES Returns 2 Year 9.79% 10.32%

Returns 3 Year 8.81% 9.24% MONEY MARKET 0% – 40% 16.40% INSTRUMENT Inception 9.08% 8.31%

Indepth | Mar 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 : 23.8316 AUM : 6.44 Cr Portfolio Duration : 4.82 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 30.99 0 - 5 YEARS 33.12 SOVEREIGN 30.99 AAA 53.24 5 - 10 YEARS 51.22 FINANCIAL AND INSURANCE ACTIVITIES 19.11 CASH & CASH EQUIVALENTS 15.77 MORE THAN 10 YEARS 15.67 INFRASTRUCTURE 24.11 Total 100.00 Total 100.00 HOUSING 10.02 OTHERS 15.77 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 8.63 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 6.22% GSEC MD 16/03/2035 7.36 MD 17/06/2030 3.11 7.17% GSEC MD 08/01/2028 7.29 6.97% KARNATAKA SDL MD 30/09/2031 3.07 6.45% GSEC MD 07/10/2029 7.28 9.30% NCD POWER GRID CORPORATION MD 28/06/2027 2.21 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 6.92 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 1.74 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 6.91 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 8.65% RELIANCE INDUSTRIES LTD 11/12/2028 6.87 04/05/2030 1.73 5.77% GSEC MD 03/08/2030 5.98 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.51 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.56 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.44 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.31 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.30

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -2.46% -1.77%

EQUITIES 0% - Return 6 Month 1.20% 1.39%

Returns 1 Year 6.09% 6.97% FIXED INCOME SECURITIES Returns 2 Year 9.77% 10.32%

100% 100% Returns 3 Year 8.60% 9.24% MONEY MARKET INSTRUMENT Inception 7.42% 7.84%

Indepth | Mar 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 : 21.9425 AUM : 38.16 Cr Portfolio Duration : 1.53 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 65.08 MORE THAN 6 MONTHS 59.85 SOVEREIGN 65.08 AAA 21.75 LESS THAN 6 MONTHS 40.15 FINANCIAL AND INSURANCE ACTIVITIES 13.74 A1+ 0.64 Total 100.00 INFRASTRUCTURE 8.49 CASH & CASH EQUIVALENTS 12.53 OTHERS 12.69 Total 100.00 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.17% GSEC MD 15/07/2021 25.41 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 4.66 5.22% GSEC MD 15/06/2025 12.36 364 DAYS TREASURY BILL MD 22/07/2021 2.07 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 11.56 7.68% GSEC MD 15/12/2023 1.40 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 8.49 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.64 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 8.14 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 0.29 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 7.31 8% NCD BRITANNIA INDUSTRIES LTD. MD 28/08/2022 0.17 364 DAYS TREASURY BILL MD 16/12/2021 4.97

ASSETASSET ALLOCATION ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.41% 0.33%

EQUITIES 0% - Return 6 Month 1.14% 1.80%

Returns 1 Year 5.10% 4.28% FIXED INCOME 60% -100% 86.83% SECURITIES Returns 2 Year 5.95% 5.41%

Returns 3 Year 3.12% 6.17% MONEY MARKET 0% – 40% 13.17% INSTRUMENT Inception 6.50% 7.21%

Indepth | Mar 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 : 22.4697 AUM : 1.48 Cr Portfolio Duration : 1.60 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 81.64 MORE THAN 6 MONTHS 63.58 SOVEREIGN 81.64 AAA 7.25 LESS THAN 6 MONTHS 36.42 HOUSING SECTOR 7.25 11.11 CASH & CASH EQUIVALENTS 11.11 Total 100.00 OTHERS TOTAL 100.00 Total 100.00

DEBT HOLDINDS % of AUM

6.17% GSEC MD 15/07/2021 25.92 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 25.12 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 14.04 5.22% GSEC MD 15/06/2025 13.27 7.99% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 11/07/2024 7.25 364 DAYS TREASURY BILL MD 16/12/2021 3.29

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.36% 0.33%

EQUITIES 0% - Return 6 Month 1.60% 1.80%

Returns 1 Year 5.12% 4.28% FIXED INCOME SECURITIES Returns 2 Year 5.33% 5.41%

100% 100% Returns 3 Year 5.44% 6.17% MONEY MARKET INSTRUMENT Inception 6.84% 7.11%

Indepth | Mar 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 : 26.5918 AUM : 0.37 Cr Portfolio Duration : 3.76 Benchmark : CRISIL COMPOSITE BOND FUND (80%) + Large-cap Equity Index(20%)

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 65.74 0 - 5 YEARS 25.75 SOVEREIGN 65.74 CASH & CASH EQUIVALENTS 34.26 5 - 10 YEARS 55.55 OTHERS 34.26 Total 100.00 MORE THAN 10 YEARS 18.70 Total 100.00 Total 100.00

EQUITY HOLDINDS % of AUM EQUITY HOLDINDS % of AUM

RELIANCE INDUSTRIES LIMITED 1.85 TITAN COMPANY LIMITED 0.19 HDFC BANK LIMITED 1.82 MARUTI SUZUKI INDIA LIMITED 0.18 INFOSYS LIMITED 1.28 HINDALCO INDUSTRIES LIMITED 0.18 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.23 POWER GRID CORPORATION OF INDIA LIMITED 0.18 ICICI BANK LIMITED 1.13 ULTRATECH CEMENT LIMITED 0.16 TATA CONSULTANCY SERVICES LIMITED 0.93 GRASIM INDUSTRIES LIMITED 0.16 KOTAK MAHINDRA BANK LIMITED 0.81 JSW STEEL LIMITED 0.15 HINDUSTAN UNILEVER LIMITED 0.57 CIPLA LIMITED 0.15 LARSEN & TOUBRO LIMITED 0.54 BHARAT PETROLEUM CORPORATION LIMITED 0.13 ITC LIMITED 0.54 NTPC LIMITED 0.13 AXIS BANK LIMITED 0.49 DR REDDYS LABORATORIES LIMITED 0.12 BHARTI AIRTEL LIMITED 0.46 OIL & NATURAL GAS CORPORATION LIMITED 0.12 BAJAJ FINANCE LIMITED 0.42 UPL LIMITED 0.11 STATE BANK OF INDIA 0.41 BAJAJ AUTO LIMITED 0.10 HCL TECHNOLOGIES LIMITED 0.34 HDFC LIFE INSURANCE COMPANY LIMITED 0.09 ASIAN PAINTS LIMITED 0.31 GAIL (INDIA) LIMITED 0.09 MAHINDRA & MAHINDRA LIMITED 0.28 BRITANNIA INDUSTRIES LIMITED 0.09 BAJAJ FINSERV LIMITED 0.26 HERO MOTOCORP LIMITED 0.09 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.24 INDIAN OIL CORPORATION LIMITED 0.07 WIPRO LIMITED 0.23 COAL INDIA LIMITED 0.07 TECH MAHINDRA LIMITED 0.22 SBI LIFE INSURANCE COMPANY LIMITED 0.05 TATA MOTORS LIMITED 0.22 YES BANK LIMITED 0.01 INDUSIND BANK LIMITED 0.20 TATA STEEL LIMITED 0.19

DEBT HOLDINGS % of AUM

7.17% GSEC MD 08/01/2028 22.44 8.15% GSEC MD 24/11/2026 14.73 7.40% GSEC MD 09/09/2035 14.17 6.17% GSEC MD 15/07/2021 5.43 6.45% GSEC MD 07/10/2029 5.36 5.77% GSEC MD 03/08/2030 2.59 9.23% GSEC MD 23/12/2043 1.02

Indepth | Mar 2021 | 18 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 6.91 INFRASTRUCTURE 3.04 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 3.01 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 0.99 CIVIL ENGINEERING 0.54 MANUFACTURE OF TOBACCO PRODUCTS 0.54 MANUFACTURE OF BASIC METALS 0.52 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 0.51 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.40 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.28 OTHER MANUFACTURING 0.19 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.19 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.16 MANUFACTURE OF TEXTILES 0.16 MANUFACTURE OF FOOD PRODUCTS 0.09 MINING OF COAL AND LIGNITE 0.07 SOVERIGN 65.74

ASSET ALLOCATION PERFORMANCE

Period Fund Benchmark F&U ACTUAL Return 1 Month -0.42% -0.10% EQUITIES 0% – 20% 17.61% Return 6 Month 6.12% 6.63%

FIXED INCOME 50% – 100% Returns 1 Year 10.51% 11.52% SECURITIES 65.74% Returns 2 Year 10.02% 11.46% MONEY MARKET INSTRUMENT 0 % – 40% 16.65% Returns 3 Year 8.60% 9.69%

Inception 8.81% 8.50%

Indepth | Mar 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 : 29.3498 AUM : 21.97 Cr Portfolio Duration : 4.55 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE

GOVT BONDS 25.91 AAA 13.14 A1+ 0.67 CASH & CASH EQUIVALENTS 60.28 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.69 TECH MAHINDRA LIMITED 0.48 HDFC BANK LIMITED 5.56 HDFC LIFE INSURANCE COMPANY LIMITED 0.48 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.96 POWER GRID CORPORATION OF INDIA LIMITED 0.47 INFOSYS LIMITED 3.88 TATA STEEL LIMITED 0.46 ICICI BANK LIMITED 3.58 DR REDDYS LABORATORIES LIMITED 0.45 TATA CONSULTANCY SERVICES LIMITED 2.57 NTPC LIMITED 0.44 KOTAK MAHINDRA BANK LIMITED 1.81 HINDALCO INDUSTRIES LIMITED 0.42 HINDUSTAN UNILEVER LIMITED 1.61 BAJAJ AUTO LIMITED 0.42 ITC LIMITED 1.50 GRASIM INDUSTRIES LIMITED 0.40 LARSEN & TOUBRO LIMITED 1.49 DIVIS LABORATORIES LIMITED 0.36 AXIS BANK LIMITED 1.31 HERO MOTOCORP LIMITED 0.36 STATE BANK OF INDIA 1.30 OIL & NATURAL GAS CORPORATION LIMITED 0.34 BAJAJ FINANCE LIMITED 1.21 CIPLA LIMITED 0.34 BHARTI AIRTEL LIMITED 1.13 BRITANNIA INDUSTRIES LIMITED 0.34 ASIAN PAINTS LIMITED 0.87 JSW STEEL LIMITED 0.33 HCL TECHNOLOGIES LIMITED 0.84 BHARAT PETROLEUM CORPORATION LIMITED 0.30 MARUTI SUZUKI INDIA LIMITED 0.78 SHREE CEMENT LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.66 EICHER MOTORS LIMITED 0.29 ULTRATECH CEMENT LIMITED 0.60 SBI LIFE INSURANCE COMPANY LIMITED 0.29 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 COAL INDIA LIMITED 0.27 INDUSIND BANK LIMITED 0.52 UPL LIMITED 0.26 WIPRO LIMITED 0.51 GAIL (INDIA) LIMITED 0.23 BAJAJ FINSERV LIMITED 0.51 INDIAN OIL CORPORATION LIMITED 0.21 TITAN COMPANY LIMITED 0.50 YES BANK LIMITED 0.03 TATA MOTORS LIMITED 0.49 NESTLE INDIA LIMITED 0.48

DEBT HOLDINDS % of AUM DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 14.22 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.67 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 5.30 8.03% FOOD CORPORATION OF INDIA SPCIAL BOND MD 15/12/2024 0.59 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 3.69 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.48 7.17% GSEC MD 08/01/2028 3.66 6.22% GSEC MD 16/03/2035 0.43 6.45% GSEC MD 07/10/2029 3.54 8.15% GSEC MD 24/11/2026 0.25 5.77% GSEC MD 03/08/2030 3.07 8.83% GSEC MD 12/12/2041 0.17 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 1.56 9.41% NCD INDIA INFRASTRUCTURE FINANCE COMPANY LTD. MD 27/07/2037 1.09 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 1.01

Indepth | Mar 2021 | 20 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.79 INFRASTRUCTURE 19.38 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.28 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.74 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.70 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.56 MANUFACTURE OF TOBACCO PRODUCTS 1.50 CIVIL ENGINEERING 1.49 MANUFACTURE OF BASIC METALS 1.21 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.90 MANUFACTURE OF FOOD PRODUCTS 0.82 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.77 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.66 OTHER MANUFACTURING 0.50 MANUFACTURE OF TEXTILES 0.40 MINING OF COAL AND LIGNITE 0.27 HOUSING SECTOR 1.01 SOVEREIGN 25.91

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.31% 3.65%

EQUITIES 30% – 70% 52.17% Return 6 Month 13.94% 18.42%

Returns 1 Year 16.97% 21.75% FIXED INCOME SECURITIES Returns 2 Year 12.13% 14.03% 30 % – 70% 47.83% Returns 3 Year 9.08% 10.68% MONEY MARKET INSTRUMENT Inception 8.97% 9.39%

Indepth | Mar 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 : 32.3640 AUM : 3.10 Cr Portfolio Duration : 4.82 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 21.55 SOVEREIGN 21.55 AAA 13.51 INFRASTRUCTURE 9.92 CASH & CASH EQUIVALENTS 64.94 HOUSING SECTOR 3.59 Total 100.00 OTHERS 64.94 TOTAL 100.00

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.95 NESTLE INDIA LIMITED 0.52 RELIANCE INDUSTRIES LIMITED 5.84 TATA MOTORS LIMITED 0.50 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.05 TECH MAHINDRA LIMITED 0.49 INFOSYS LIMITED 3.97 POWER GRID CORPORATION OF INDIA LIMITED 0.48 ICICI BANK LIMITED 3.68 TATA STEEL LIMITED 0.47 TATA CONSULTANCY SERVICES LIMITED 2.63 DR REDDYS LABORATORIES LIMITED 0.46 KOTAK MAHINDRA BANK LIMITED 2.32 NTPC LIMITED 0.45 HINDUSTAN UNILEVER LIMITED 1.65 HINDALCO INDUSTRIES LIMITED 0.43 AXIS BANK LIMITED 1.63 BAJAJ AUTO LIMITED 0.43 ITC LIMITED 1.54 GRASIM INDUSTRIES LIMITED 0.42 LARSEN & TOUBRO LIMITED 1.52 DIVIS LABORATORIES LIMITED 0.38 STATE BANK OF INDIA 1.33 CIPLA LIMITED 0.38 BAJAJ FINANCE LIMITED 1.26 HERO MOTOCORP LIMITED 0.37 BHARTI AIRTEL LIMITED 1.16 OIL & NATURAL GAS CORPORATION LIMITED 0.35 ASIAN PAINTS LIMITED 0.92 JSW STEEL LIMITED 0.35 HCL TECHNOLOGIES LIMITED 0.88 BRITANNIA INDUSTRIES LIMITED 0.35 MARUTI SUZUKI INDIA LIMITED 0.82 SHREE CEMENT LIMITED 0.34 MAHINDRA & MAHINDRA LIMITED 0.69 BHARAT PETROLEUM CORPORATION LIMITED 0.31 ULTRATECH CEMENT LIMITED 0.61 SBI LIFE INSURANCE COMPANY LIMITED 0.31 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.57 EICHER MOTORS LIMITED 0.30 INDUSIND BANK LIMITED 0.55 COAL INDIA LIMITED 0.28 BAJAJ FINSERV LIMITED 0.53 UPL LIMITED 0.27 WIPRO LIMITED 0.53 INDIAN OIL CORPORATION LIMITED 0.24 TITAN COMPANY LIMITED 0.53 GAIL (INDIA) LIMITED 0.23 HDFC LIFE INSURANCE COMPANY LIMITED 0.52 YES BANK LIMITED 0.02

DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 8.34 7.17% GSEC MD 08/01/2028 5.06 7.40% GSEC MD 09/09/2035 4.43 5.77% GSEC MD 03/08/2030 3.73 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 3.59 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.43 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 3.35 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 3.14

Indepth | Mar 2021 | 22 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.15 INFRASTRUCTURE 18.97 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.50 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.83 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.79 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.62 MANUFACTURE OF TOBACCO PRODUCTS 1.54 CIVIL ENGINEERING 1.52 MANUFACTURE OF BASIC METALS 1.25 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.95 MANUFACTURE OF FOOD PRODUCTS 0.87 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.80 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.69 OTHER MANUFACTURING 0.53 MANUFACTURE OF TEXTILES 0.42 MINING OF COAL AND LIGNITE 0.28 HOUSING SECTOR 3.59 SOVEREIGN 21.55

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.29% 3.65%

EQUITIES 30%-70% 54.80% Return 6 Month 13.98% 18.42%

Returns 1 Year 17.19% 21.75% FIXED INCOME SECURITIES Returns 2 Year 12.08% 14.03%

30% -70% 45.20% Returns 3 Year 9.47% 10.68% MONEY MARKET INSTRUMENT Inception 10.10% 12.43%

Indepth | Mar 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 : 21.8197 AUM : 23.00 Cr Portfolio Duration : 4.45 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 21.47 SOVEREIGN 21.47 AAA 11.09 FINANCIAL AND INSURANCE ACTIVITIES 2.63 A1+ 2.13 INFRASTRUCTURE 9.62 CASH & CASH EQUIVALENTS 65.31 HOUSING SECTOR 0.97 Total 100.00 OTHERS 65.31 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.86 TECH MAHINDRA LIMITED 0.49 HDFC BANK LIMITED 5.27 POWER GRID CORPORATION OF INDIA LIMITED 0.47 INFOSYS LIMITED 3.99 TATA STEEL LIMITED 0.46 ICICI BANK LIMITED 3.69 DR REDDYS LABORATORIES LIMITED 0.46 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.59 NTPC LIMITED 0.44 TATA CONSULTANCY SERVICES LIMITED 2.60 BAJAJ AUTO LIMITED 0.42 LARSEN & TOUBRO LIMITED 1.97 HINDALCO INDUSTRIES LIMITED 0.42 ULTRATECH CEMENT LIMITED 1.88 GRASIM INDUSTRIES LIMITED 0.40 KOTAK MAHINDRA BANK LIMITED 1.87 DIVIS LABORATORIES LIMITED 0.37 HINDUSTAN UNILEVER LIMITED 1.63 HERO MOTOCORP LIMITED 0.36 ITC LIMITED 1.52 OIL & NATURAL GAS CORPORATION LIMITED 0.35 AXIS BANK LIMITED 1.33 CIPLA LIMITED 0.34 STATE BANK OF INDIA 1.32 BRITANNIA INDUSTRIES LIMITED 0.34 BAJAJ FINANCE LIMITED 1.23 JSW STEEL LIMITED 0.33 BHARTI AIRTEL LIMITED 1.14 BHARAT PETROLEUM CORPORATION LIMITED 0.31 ASIAN PAINTS LIMITED 0.88 SHREE CEMENT LIMITED 0.30 HCL TECHNOLOGIES LIMITED 0.84 EICHER MOTORS LIMITED 0.30 MARUTI SUZUKI INDIA LIMITED 0.78 SBI LIFE INSURANCE COMPANY LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.66 COAL INDIA LIMITED 0.27 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 UPL LIMITED 0.27 INDUSIND BANK LIMITED 0.54 GAIL (INDIA) LIMITED 0.22 WIPRO LIMITED 0.52 INDIAN OIL CORPORATION LIMITED 0.21 BAJAJ FINSERV LIMITED 0.51 YES BANK LIMITED 0.02 TITAN COMPANY LIMITED 0.50 TATA MOTORS LIMITED 0.49 HDFC LIFE INSURANCE COMPANY LIMITED 0.49 NESTLE INDIA LIMITED 0.49

Indepth | Mar 2021 | 24 DEBT HOLDINGS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 8.30 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 5.91 5.77% GSEC MD 03/08/2030 3.14 6.45% GSEC MD 07/10/2029 3.12 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 2.35 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 2.31 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 2.13 7.72% GSEC MD 26/102055 1.69 7.17% GSEC MD 08/01/2028 1.36 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 0.97 7.40% GSEC MD 09/09/2035 0.94 6.22% GSEC MD 16/03/2035 0.62 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 0.50 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.46 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.45 7.75% POWER FINANCE CORPORATION LIMITED 11/06/2030 0.45

INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.78 INFRASTRUCTURE 18.62 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.43 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.77 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.18 CIVIL ENGINEERING 1.97 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.71 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.57 MANUFACTURE OF TOBACCO PRODUCTS 1.52 MANUFACTURE OF BASIC METALS 1.22 MANUFACTURE OF FOOD PRODUCTS 0.83 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.78 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.66 OTHER MANUFACTURING 0.50 MANUFACTURE OF TEXTILES 0.40 MINING OF COAL AND LIGNITE 0.27 HOUSING SECTOR 0.97 SOVEREIGN 21.47

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.57% 3.65%

EQUITIES 20%-80% 53.98% Return 6 Month 14.12% 18.42%

Returns 1 Year 16.83% 21.75% FIXED INCOME SECURITIES Returns 2 Year 11.93% 14.03% 20%-80% 46.02% Returns 3 Year 9.03% 10.68% MONEY MARKET INSTRUMENT Inception 7.76% 8.89%

Indepth | Mar 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 : 20.5811 AUM : 39.13 Cr Portfolio Duration : 0.03

RATING PROFILE SECTORAL PROFILE Current NAV 20.5811 GOVT BONDS 13.00 SOVEREIGN 13.00 CASH & CASH EQUIVALENTS 87.00 OTHERS 87.00 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 7.41 HINDALCO INDUSTRIES LIMITED 0.70 HDFC BANK LIMITED 6.28 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.69 INFOSYS LIMITED 5.16 WIPRO LIMITED 0.69 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.29 BAJAJ AUTO LIMITED 0.69 ICICI BANK LIMITED 3.88 GRASIM INDUSTRIES LIMITED 0.66 TATA CONSULTANCY SERVICES LIMITED 3.43 TECH MAHINDRA LIMITED 0.64 HINDUSTAN UNILEVER LIMITED 2.65 DIVIS LABORATORIES LIMITED 0.60 ITC LIMITED 2.48 HERO MOTOCORP LIMITED 0.58 LARSEN & TOUBRO LIMITED 2.46 INDUSIND BANK LIMITED 0.57 KOTAK MAHINDRA BANK LIMITED 2.45 OIL & NATURAL GAS CORPORATION LIMITED 0.57 BHARTI AIRTEL LIMITED 1.86 CIPLA LIMITED 0.56 AXIS BANK LIMITED 1.69 BRITANNIA INDUSTRIES LIMITED 0.55 ASIAN PAINTS LIMITED 1.43 BAJAJ FINSERV LIMITED 0.55 STATE BANK OF INDIA 1.41 JSW STEEL LIMITED 0.55 BAJAJ FINANCE LIMITED 1.31 HDFC LIFE INSURANCE COMPANY LIMITED 0.52 MARUTI SUZUKI INDIA LIMITED 1.27 BHARAT PETROLEUM CORPORATION LIMITED 0.50 HCL TECHNOLOGIES LIMITED 1.11 SHREE CEMENT LIMITED 0.49 MAHINDRA & MAHINDRA LIMITED 1.08 EICHER MOTORS LIMITED 0.48 ULTRATECH CEMENT LIMITED 0.98 COAL INDIA LIMITED 0.45 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.90 UPL LIMITED 0.43 TITAN COMPANY LIMITED 0.82 GAIL (INDIA) LIMITED 0.37 TATA MOTORS LIMITED 0.81 INDIAN OIL CORPORATION LIMITED 0.35 NESTLE INDIA LIMITED 0.80 SBI LIFE INSURANCE COMPANY LIMITED 0.32 POWER GRID CORPORATION OF INDIA LIMITED 0.77 YES BANK LIMITED 0.02 TATA STEEL LIMITED 0.75 DR REDDYS LABORATORIES LIMITED 0.75 NTPC LIMITED 0.73

DEBT HOLDINGS % of AUM

364 DAYS TREASURY BILL MD 18/03/2021 12.75 364 DAYS TREASURY BILL MD 16/09/2021 0.25

Indepth | Mar 2021 | 26 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.29 INFRASTRUCTURE 13.25 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 11.03 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.52 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 2.80 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.57 MANUFACTURE OF TOBACCO PRODUCTS 2.48 CIVIL ENGINEERING 2.46 MANUFACTURE OF BASIC METALS 2.00 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.48 MANUFACTURE OF FOOD PRODUCTS 1.36 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.27 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.08 OTHER MANUFACTURING 0.82 MANUFACTURE OF TEXTILES 0.66 MINING OF COAL AND LIGNITE 0.45 SOVERIGN 13.00

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark

Return 1 Month 4.33% 3.65% EQUITIES 0%-100% 71.50% Return 6 Month 13.48% 18.42%

Returns 1 Year 8.55% 21.75% FIXED INCOME SECURITIES Returns 2 Year 4.69% 14.03% 0%-100% 28.50% Returns 3 Year 4.05% 10.68% MONEY MARKET INSTRUMENT Inception 6.49% 9.44%

*T&C apply. Indepth | Mar 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 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 | Mar 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 | Mar 2021 | 30