FEBRUARY 2021 IN-DEPTH INVESTMENT BULLETIN OF AEGON LIFE INSURANCE 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 | Feb 2021 | 2 Commentary on the Indian Securities Market for January 2021

Nifty (down 2.5%) was marginally negative after giving positive return in the last three months. The covid cases continued to decline across the country with only two states having more than 10000 active cases now. The vaccination program has also started in the country with healthcare workers receiving the vaccination first.

The dollar index took a breather after 2 consecutive months of depreciation. It was up 0.7% and closed at 90.58 level. The rupee continued to appreciate for the 3 rd month in a row and appreciated marginally by 11 paise to close at 72.95 level.

Brent crude continued its upmove and was up another 8% to close above $55 mark. It has moved up by 49% in the last three months. Gold corrected by 2.67% to close at $1847.

Foreign institutional investors (FIIs) investment continued to be strong in January albeit lower than last two months with inflow of $2.7 bn.

Domestic institutional investors (DIIs) continued to be net sellers as outflows in Equity mutual funds continued for the sixth month in a row.

Consumer price Index (CPI) further moderated in December to 4.59% vs 6.93% in November led by a sharp fall in food inflation.

The Index of Industrial Production (IIP) was revised upwards for October and November while the eight core sectors continued to show decline for third month in a row in December.

GST collections continued to improve with January GST collections up 8% YoY to its highest ever monthly collections of 1.2 lakh crores.

In February, markets will react to quarterly results, Budget, progress of covid and vaccination in India and across the world.

Bonds remained volatile during January with the 10 year benchmark yield starting the

Indepth | Feb 2021 | 3 month at 5.87, seeing a low of 5.82 before rising to 5.95 and finally closing at 5.91. This despite RBI resorting to Open Market Operations including outright purchases. A few primary auctions did see some discouraging bidding, in response to which RBI either cancelled auctions or devolved the issuances on Primary Dealers. Market does Nifty (down 2.5%) was marginally negative after giving positive return in the last three appear nervous prior to the Union Budget and the GOI’s borrowing programme, which months. The covid cases continued to decline across the country with only two states remains the most important trigger to guide the market in the short term. having more than 10000 active cases now. The vaccination program has also started in the country with healthcare workers receiving the vaccination first.

The dollar index took a breather after 2 consecutive months of depreciation. It was up 0.7% and closed at 90.58 level. The rupee continued to appreciate for the 3 rd month in a row and appreciated marginally by 11 paise to close at 72.95 level.

Brent crude continued its upmove and was up another 8% to close above $55 mark. It has moved up by 49% in the last three months. Gold corrected by 2.67% to close at $1847.

Foreign institutional investors (FIIs) investment continued to be strong in January albeit lower than last two months with inflow of $2.7 bn.

Domestic institutional investors (DIIs) continued to be net sellers as outflows in Equity mutual funds continued for the sixth month in a row.

Consumer price Index (CPI) further moderated in December to 4.59% vs 6.93% in November led by a sharp fall in food inflation.

The Index of Industrial Production (IIP) was revised upwards for October and November while the eight core sectors continued to show decline for third month in a row in December.

GST collections continued to improve with January GST collections up 8% YoY to its highest ever monthly collections of 1.2 lakh crores.

In February, markets will react to quarterly results, Budget, progress of covid and vaccination in India and across the world.

Bonds remained volatile during January with the 10 year benchmark yield starting the

Indepth | Feb 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 | Feb 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 : 32.7161 AUM : 97.34 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.83 TRENT LIMITED 1.42 RELIANCE INDUSTRIES LIMITED 8.16 HCL TECHNOLOGIES LIMITED 1.41 HDFC BANK LIMITED 6.24 KOTAK MAHINDRA BANK LIMITED 1.28 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.57 HDFC LIFE INSURANCE COMPANY LIMITED 1.27 BHARTI AIRTEL LIMITED 5.10 DIVIS LABORATORIES LIMITED 1.24 HINDUSTAN UNILEVER LIMITED 4.90 BHARAT ELECTRONICS LIMITED 1.13 SBI-ETF NIFTY BANK 4.62 ENDURANCE TECHNOLOGIES LIMITED 1.08 ICICI BANK LIMITED 4.53 MAHINDRA & MAHINDRA LIMITED 0.95 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.46 THE FEDERAL BANK LIMITED 0.90 LARSEN & TOUBRO LIMITED 3.20 ALEMBIC PHARMACEUTICALS LIMITED 0.90 TATA CONSULTANCY SERVICES LIMITED 2.75 ULTRATECH CEMENT LIMITED 0.80 DR REDDYS LABORATORIES LIMITED 2.62 TATA STEEL LIMITED 0.78 CIPLA LIMITED 2.08 TATA MOTORS LIMITED 0.77 ITC LIMITED 2.08 BHARAT FORGE LIMITED 0.60 NESTLE INDIA LIMITED 2.03 WIPRO LIMITED 0.59 BHARAT PETROLEUM CORPORATION LIMITED 2.01 JSW STEEL LIMITED 0.57 AXIS BANK LIMITED 1.84 HINDALCO INDUSTRIES LIMITED 0.56 SBI LIFE INSURANCE COMPANY LIMITED 1.81 HONEYWELL AUTOMATION INDIA LIMITED 0.32 MARUTI SUZUKI INDIA LIMITED 1.63 BAJAJ AUTO LIMITED 1.55 VARUN BEVERAGES LIMITED 1.53

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.44 MANUFACTURE OF BASIC METALS 1.91 INFRASTRUCTURE 15.27 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.55 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.58 MANUFACTURE OF BEVERAGES 1.53 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.84 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.46 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.90 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.42 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.48 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.95 CIVIL ENGINEERING 3.20 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.80 MANUFACTURE OF TOBACCO PRODUCTS 2.08 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF FOOD PRODUCTS 2.03 EQUIPMENTS 0.60

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.46% -2.48% EQUITIES 75% TO 100% 94.10% Return 6 Month 20.69% 23.13% FIXED INCOME SECURITIES 0 % TO 25% 5.90% Returns 1 Year 11.99% 13.98% MONEY MARKET INSTRUMENT Returns 2 Year 10.25% 12.20%

Returns 3 Year 5.73% 7.33%

Inception 9.92% 9.38%

Indepth | Feb 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 : 22.9664 AUM : 187.40 Cr Benchmark : S&P BSE 100

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 7.35 BOSCH LIMITED. 0.30 RELIANCE INDUSTRIES LIMITED 6.78 EICHER MOTORS LIMITED 0.15 HINDUSTAN UNILEVER LIMITED 6.20 KOTAK MAHINDRA BANK LIMITED 5.33 MARUTI SUZUKI INDIA LIMITED 4.76 SBI-ETF NIFTY BANK 4.31 ICICI BANK LIMITED 4.15 HONEYWELL AUTOMATION INDIA LIMITED 4.11 HDFC BANK LIMITED 3.93 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.87 BHARTI AIRTEL LIMITED 2.98 INDUSTRY % of AUM NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 2.53 TATA MOTORS LIMITED 2.18 FINANCIAL AND INSURANCE ACTIVITIES 23.39 HDFC LIFE INSURANCE COMPANY LIMITED 2.17 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 2.05 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 11.45 SHRIRAM TRANSPORT FINANCE COMPANY LIMITED 2.03 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 10.03 TATA CONSULTANCY SERVICES LIMITED 1.93 DR REDDYS LABORATORIES LIMITED 1.86 INFRASTRUCTURE 9.75 ITC LIMITED 1.81 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 7.19 ENDURANCE TECHNOLOGIES LIMITED 1.67 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 5.12 NESTLE INDIA LIMITED 1.57 VARUN BEVERAGES LIMITED 1.53 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 4.11 HCL TECHNOLOGIES LIMITED 1.45 MANUFACTURE OF FOOD PRODUCTS 2.63 TITAN COMPANY LIMITED 1.35 BRITANNIA INDUSTRIES LIMITED 1.06 MANUFACTURE OF TOBACCO PRODUCTS 1.81 ABBOTT INDIA LIMITED 1.02 MANUFACTURE OF BEVERAGES 1.53 RBL BANK LIMITED 1.02 PIDILITE INDUSTRIES LIMITED 0.99 MANUFACTURE OF BASIC METALS 1.45 ASHOK LEYLAND LIMITED 0.97 OTHER MANUFACTURING 1.35 TATA STEEL LIMITED 0.96 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 0.94 MANUFACTURE OF ELECTRICAL EQUIPMENTS 0.94 DIVIS LABORATORIES LIMITED 0.92 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.70 CIPLA LIMITED 0.89 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & AXIS BANK LIMITED 0.89 WIPRO LIMITED 0.71 EQUIPMENTS 0.63 ULTRATECH CEMENT LIMITED 0.70 BHARAT FORGE LIMITED 0.63 HINDALCO INDUSTRIES LIMITED 0.48 GLAXOSMITHKLINE PHARMACEUTICALS LIMITED 0.42

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -2.05% -2.15%

EQUITIES 80% – 100% 90.98% Return 6 Month 20.09% 23.65%

Returns 1 Year 15.84% 14.19% FIXED INCOME SECURITIES Returns 2 Year 13.59% 11.72%

0% TO 20% 9.02% Returns 3 Year 7.88% 6.51% MONEY MARKET INSTRUMENT Inception 8.38% 8.36%

Indepth | Feb 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 : 52.3979 AUM : 14.26 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.55 TRENT LIMITED 1.38 RELIANCE INDUSTRIES LIMITED 7.89 KOTAK MAHINDRA BANK LIMITED 1.24 HDFC BANK LIMITED 6.21 DIVIS LABORATORIES LIMITED 1.23 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.60 HDFC LIFE INSURANCE COMPANY LIMITED 1.23 BHARTI AIRTEL LIMITED 4.96 BHARAT ELECTRONICS LIMITED 1.12 HINDUSTAN UNILEVER LIMITED 4.86 ENDURANCE TECHNOLOGIES LIMITED 1.09 SBI-ETF NIFTY BANK 4.59 MAHINDRA & MAHINDRA LIMITED 0.92 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.58 THE FEDERAL BANK LIMITED 0.88 ICICI BANK LIMITED 4.39 ALEMBIC PHARMACEUTICALS LIMITED 0.85 LARSEN & TOUBRO LIMITED 3.09 ULTRATECH CEMENT LIMITED 0.75 TATA CONSULTANCY SERVICES LIMITED 2.63 TATA STEEL LIMITED 0.74 DR REDDYS LABORATORIES LIMITED 2.52 TATA MOTORS LIMITED 0.70 CIPLA LIMITED 2.02 WIPRO LIMITED 0.59 ITC LIMITED 1.99 HINDALCO INDUSTRIES LIMITED 0.56 NESTLE INDIA LIMITED 1.96 BHARAT FORGE LIMITED 0.56 BHARAT PETROLEUM CORPORATION LIMITED 1.94 JSW STEEL LIMITED 0.56 AXIS BANK LIMITED 1.83 HONEYWELL AUTOMATION INDIA LIMITED 0.33 HCL TECHNOLOGIES LIMITED 1.78 SBI LIFE INSURANCE COMPANY LIMITED 1.76 MARUTI SUZUKI INDIA LIMITED 1.62 BAJAJ AUTO LIMITED 1.49 VARUN BEVERAGES LIMITED 1.46

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.14 MANUFACTURE OF BASIC METALS 1.86 INFRASTRUCTURE 14.78 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.49 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.55 MANUFACTURE OF BEVERAGES 1.46 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.62 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.44 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.86 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.38 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.41 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.92 CIVIL ENGINEERING 3.09 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.75 MANUFACTURE OF TOBACCO PRODUCTS 1.99 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF FOOD PRODUCTS 1.96 EQUIPMENTS 0.56

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.43% -2.48% EQUITIES 75% - 100% 92.43% Return 6 Month 20.79% 23.13%

FIXED INCOME Returns 1 Year 12.45% 13.98% SECURITIES 0% TO 25% 7.57% Returns 2 Year 10.38% 12.20% MONEY MARKET INSTRUMENT Returns 3 Year 5.90% 7.33%

Inception 14.75% 13.90%

Indepth | Feb 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 : 49.3207 AUM : 8.22 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

HDFC BANK LIMITED 10.09 BAJAJ AUTO LIMITED 0.88 RELIANCE INDUSTRIES LIMITED 9.93 POWER GRID CORPORATION OF INDIA LIMITED 0.82 INFOSYS LIMITED 7.66 INDUSIND BANK LIMITED 0.81 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 7.13 TATA MOTORS LIMITED 0.79 ICICI BANK LIMITED 6.18 TATA STEEL LIMITED 0.77 TATA CONSULTANCY SERVICES LIMITED 5.52 DIVIS LABORATORIES LIMITED 0.76 KOTAK MAHINDRA BANK LIMITED 4.19 NTPC LIMITED 0.75 HINDUSTAN UNILEVER LIMITED 3.41 BRITANNIA INDUSTRIES LIMITED 0.74 ITC LIMITED 3.00 HERO MOTOCORP LIMITED 0.71 AXIS BANK LIMITED 2.78 CIPLA LIMITED 0.71 LARSEN & TOUBRO LIMITED 2.72 GRASIM INDUSTRIES LIMITED 0.69 BHARTI AIRTEL LIMITED 2.24 EICHER MOTORS LIMITED 0.68 BAJAJ FINANCE LIMITED 2.12 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.65 ASIAN PAINTS LIMITED 1.83 JSW STEEL LIMITED 0.63 STATE BANK OF INDIA 1.83 HINDALCO INDUSTRIES LIMITED 0.59 HCL TECHNOLOGIES LIMITED 1.68 SBI LIFE INSURANCE COMPANY LIMITED 0.59 MARUTI SUZUKI INDIA LIMITED 1.61 BHARAT PETROLEUM CORPORATION LIMITED 0.55 MAHINDRA & MAHINDRA LIMITED 1.21 UPL LIMITED 0.55 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.07 OIL & NATURAL GAS CORPORATION LIMITED 0.54 WIPRO LIMITED 1.05 SHREE CEMENT LIMITED 0.53 NESTLE INDIA LIMITED 1.04 COAL INDIA LIMITED 0.47 ULTRATECH CEMENT LIMITED 1.04 INDIAN OIL CORPORATION LIMITED 0.43 TECH MAHINDRA LIMITED 1.01 GAIL (INDIA) LIMITED 0.42 TITAN COMPANY LIMITED 1.00 YES BANK LIMITED 0.05 DR REDDYS LABORATORIES LIMITED 0.94 HDFC LIFE INSURANCE COMPANY LIMITED 0.90 BAJAJ FINSERV LIMITED 0.89

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 37.57 MANUFACTURE OF FOOD PRODUCTS 1.78 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 16.91 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.60 INFRASTRUCTURE 16.34 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.56 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.79 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.21 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.48 OTHER MANUFACTURING 1.00 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.09 MANUFACTURE OF TEXTILES 0.69 MANUFACTURE OF TOBACCO PRODUCTS 3.00 MINING OF COAL AND LIGNITE 0.47 CIVIL ENGINEERING 2.72 MANUFACTURE OF BASIC METALS 1.99

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -2.57% -2.48% EQUITIES 98% - 100% 99.20 % Return 6 Month 22.51% 23.13%

FIXED INCOME Returns 1 Year 13.40% 13.98% SECURITIES 0% TO 2% 0.80% Returns 2 Year 11.81% 12.20% MONEY MARKET INSTRUMENT Returns 3 Year 7.10% 7.33%

Inception 14.17% 14.36%

Indepth | Feb 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 : 26.8192 AUM : 14.47 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.68 HDFC LIFE INSURANCE COMPANY LIMITED 1.45 RELIANCE INDUSTRIES LIMITED 7.88 TRENT LIMITED 1.40 HDFC BANK LIMITED 6.58 HCL TECHNOLOGIES LIMITED 1.39 BHARTI AIRTEL LIMITED 6.16 DIVIS LABORATORIES LIMITED 1.20 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.45 BHARAT ELECTRONICS LIMITED 1.14 HINDUSTAN UNILEVER LIMITED 5.02 SBI LIFE INSURANCE COMPANY LIMITED 1.09 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.36 ENDURANCE TECHNOLOGIES LIMITED 1.07 ICICI BANK LIMITED 4.03 MAHINDRA & MAHINDRA LIMITED 1.07 LARSEN & TOUBRO LIMITED 3.23 THE FEDERAL BANK LIMITED 0.91 SBI-ETF NIFTY BANK 3.19 ALEMBIC PHARMACEUTICALS LIMITED 0.84 TATA CONSULTANCY SERVICES LIMITED 2.93 ULTRATECH CEMENT LIMITED 0.82 DR REDDYS LABORATORIES LIMITED 2.63 TATA STEEL LIMITED 0.77 CIPLA LIMITED 2.10 TATA MOTORS LIMITED 0.76 ITC LIMITED 2.08 WIPRO LIMITED 0.59 NESTLE INDIA LIMITED 2.02 BHARAT FORGE LIMITED 0.59 KOTAK MAHINDRA BANK LIMITED 2.01 JSW STEEL LIMITED 0.58 BHARAT PETROLEUM CORPORATION LIMITED 1.96 HINDALCO INDUSTRIES LIMITED 0.56 AXIS BANK LIMITED 1.95 HONEYWELL AUTOMATION INDIA LIMITED 0.32 BAJAJ AUTO LIMITED 1.72 MARUTI SUZUKI INDIA LIMITED 1.59 VARUN BEVERAGES LIMITED 1.49

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.48 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.72 INFRASTRUCTURE 16.01 MANUFACTURE OF BEVERAGES 1.49 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.59 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.46 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.78 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.40 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.02 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.07 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.43 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.82 CIVIL ENGINEERING 3.23 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF TOBACCO PRODUCTS 2.08 EQUIPMENTS 0.59 MANUFACTURE OF FOOD PRODUCTS 2.02 MANUFACTURE OF BASIC METALS 1.91

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.32% -2.48%

EQUITIES 80% TO 100% 93.6% Return 6 Month 20.99% 23.13%

Returns 1 Year 13.02% 13.98% FIXED INCOME SECURITIES Returns 2 Year 10.71% 12.20%

0 % – 20% 6.4% Returns 3 Year 6.46% 7.33% MONEY MARKET INSTRUMENT Inception 10.53% 9.28%

Indepth | Feb 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 : 15.8125 AUM : 148.94 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.61 VARUN BEVERAGES LIMITED 1.48 RELIANCE INDUSTRIES LIMITED 7.97 TRENT LIMITED 1.43 HDFC BANK LIMITED 6.20 KOTAK MAHINDRA BANK LIMITED 1.26 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 5.65 DIVIS LABORATORIES LIMITED 1.26 BHARTI AIRTEL LIMITED 5.06 HDFC LIFE INSURANCE COMPANY LIMITED 1.24 HINDUSTAN UNILEVER LIMITED 4.78 ALEMBIC PHARMACEUTICALS LIMITED 1.18 SBI-ETF NIFTY BANK 4.63 BHARAT ELECTRONICS LIMITED 1.12 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.58 ENDURANCE TECHNOLOGIES LIMITED 1.08 ICICI BANK LIMITED 4.44 MAHINDRA & MAHINDRA LIMITED 0.92 LARSEN & TOUBRO LIMITED 3.12 THE FEDERAL BANK LIMITED 0.89 TATA CONSULTANCY SERVICES LIMITED 2.75 ULTRATECH CEMENT LIMITED 0.77 DR REDDYS LABORATORIES LIMITED 2.53 TATA STEEL LIMITED 0.76 CIPLA LIMITED 2.04 TATA MOTORS LIMITED 0.71 ITC LIMITED 2.00 WIPRO LIMITED 0.59 NESTLE INDIA LIMITED 1.98 BHARAT FORGE LIMITED 0.57 BHARAT PETROLEUM CORPORATION LIMITED 1.93 JSW STEEL LIMITED 0.56 AXIS BANK LIMITED 1.83 HINDALCO INDUSTRIES LIMITED 0.56 SBI LIFE INSURANCE COMPANY LIMITED 1.77 HONEYWELL AUTOMATION INDIA LIMITED 0.31 HCL TECHNOLOGIES LIMITED 1.68 MARUTI SUZUKI INDIA LIMITED 1.62 BAJAJ AUTO LIMITED 1.49

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 23.26 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.49 INFRASTRUCTURE 14.96 MANUFACTURE OF BEVERAGES 1.48 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.64 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.44 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 7.01 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.43 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.78 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.92 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.41 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.77 CIVIL ENGINEERING 3.12 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF TOBACCO PRODUCTS 2.00 EQUIPMENTS 0.57 MANUFACTURE OF FOOD PRODUCTS 1.98 MANUFACTURE OF BASIC METALS 1.88

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.44% -2.48%

EQUITIES 80% – 100% 93.35% Return 6 Month 20.68% 23.13%

Returns 1 Year 11.87% 13.98% FIXED INCOME SECURITIES 0% - Returns 2 Year 10.01% 12.20%

Returns 3 Year 5.28% 7.33% MONEY MARKET 0 % – 20% 6.65% INSTRUMENT Inception 7.78% 8.41%

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

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 14.8714 AUM : 133.34 Cr Benchmark : NIFTY MIDCAP 100 INDUSTRY % of AUM

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

TRENT LIMITED 3.62 AARTI INDUSTRIES LIMITED 1.18 MAX FINANCIAL SERVICES LIMITED 3.56 TVS MOTOR COMPANY LIMITED 1.18 MINDTREE LIMITED 3.26 SHRIRAM TRANSPORT FINANCE COMPANY LIMITED 1.16 THE FEDERAL BANK LIMITED 3.25 RBL BANK LIMITED 1.15 VARUN BEVERAGES LIMITED 3.19 APOLLO HOSPITALS ENTERPRISE LIMITED 1.08 BHARAT ELECTRONICS LIMITED 3.17 MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED 1.07 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 2.98 GRAPHITE INDIA LIMITED 1.04 BHARAT FORGE LIMITED 2.64 PI INDUSTRIES LIMITED 1.01 EMAMI LIMITED 2.62 AJANTA PHARMA LIMITED 1.01 GODREJ PROPERTIES LIMITED 2.45 MAHANAGAR GAS LIMITED 0.96 SRF LIMITED 2.42 TATA CONSUMER PRODUCTS LIMITED 0.96 ENDURANCE TECHNOLOGIES LIMITED 2.33 GUJARAT STATE PETRONET LIMITED 0.95 VOLTAS LIMITED 2.32 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA LIMITED 0.92 CITY UNION BANK LIMITED 2.28 WESTLIFE DEVELOPMENT LTD 0.86 IPCA LABORATORIES LIMITED 2.22 MUTHOOT FINANCE LIMITED 0.78 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED 2.21 STEEL AUTHORITY OF INDIA LIMITED 0.78 NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED 2.20 JUBILANT FOODWORKS LIMITED 0.78 OBEROI REALTY LIMITED 2.09 LIC HOUSING FINANCE LIMITED 0.77 MPHASIS LIMITED 2.04 TUBE INVESTMENTS OF INDIA LIMITED 0.70 ALEMBIC PHARMACEUTICALS LIMITED 2.01 DHANUKA AGRITECH LIMITED 0.70 BALKRISHNA INDUSTRIES LIMITED 1.98 PAGE INDUSTRIES LIMITED 0.68 BAYER CROPSCIENCE LIMITED 1.93 RALLIS INDIA LIMITED 0.61 ASHOK LEYLAND LIMITED 1.86 ADITYA BIRLA FASHION AND RETAIL LIMITED (RIGHT APPLICATION) 0.04 COROMANDEL INTERNATIONAL LIMITED 1.82 ADITYA BIRLA FASHION AND RETAIL LIMITED (UNCALLED APPLICATION L&T TECHNOLOGY SERVICES LIMITED 1.70 MONEY) 0.02 WHIRLPOOL OF INDIA LIMITED 1.68 SYNGENE INTERNATIONAL LIMITED 1.56 JINDAL STEEL & POWER LIMITED 1.49 BATA INDIA LIMITED 1.42 THE RAMCO CEMENTS LIMITED 1.41 COFORGE LIMITED 1.40 DEEPAK NITRITE LIMITED 1.38 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.37 DR REDDYS LABORATORIES LIMITED 1.24

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 18.45 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.44 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 12.42 MANUFACTURE OF BASIC METALS 2.27 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 9.09 REAL ESTATE ACTIVITIES 2.09 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.40 MANUFACTURE OF RUBBER AND PLASTICS PRODUCTS 1.98 MANUFACTURE OF ELECTRICAL EQUIPMENTS 4.66 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.88 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.19 MANUFACTURE OF FOOD PRODUCTS 1.73 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 3.69 SCIENTIFIC RESEARCH AND DEVELOPMENT 1.56 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 3.23 MANUFACTURE OF LEATHER AND RELATED PRODUCTS 1.42 MANUFACTURE OF BEVERAGES 3.19 FOOD & BEVERAGE SERVICE ACTIVITIES 0.86 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 3.17 MANUFACTURE OF WEARING APPAREL 0.68 INFRASTRUCTURE 2.99 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & EQUIPMENTS 2.64 CONSTRUCTION OF BUILDINGS 2.45

Indepth | Feb 2021 | 12 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.66% 0.32%

EQUITIES 80% – 100% 95.49% Return 6 Month 30.05% 35.15%

Returns 1 Year 18.27% 16.10% FIXED INCOME 0% - SECURITIES Returns 2 Year 14.94% 11.22%

MONEY MARKET 0% TO 20% 4.51% Returns 3 Year 7.17% 0.20% INSTRUMENT Inception 10.64% 6.42%

Indepth | Feb 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 : 30.4947 AUM : 146.35 Cr Portfolio Duration : 5.92 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 37.80 0 - 5 YEARS 22.24 SOVEREIGN 37.80 AAA 56.03 5 - 10 YEARS 58.51 FINANCIAL AND INSURANCEA CTIVITIES 20.50 CASH & CASH EQUIVALENTS 6.16 MORE THAN 10 YEARS 19.24 INFRASTRUCTURE 22.74 Total 100.00 Total 100.00 HOUSING SECTOR 12.79 OTHERS 6.16 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

8.65% RELIANCE INDUSTRIES LTD 11/12/2028 7.50 7.90% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 7.38 MD.24/08/2026 2.21 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 7.16 7.72% GSEC MD 15/06/2049 1.66 7.17% GSEC MD 08/01/2028 7.01 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.55 6.45% GSEC MD 07/10/2029 6.72 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 04/05/2030 1.27 6.80% GSEC MD 15/12/2060 6.52 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 0.87 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 6.09 7.62% GSEC MD 15/09/2039 0.85 5.77% GSEC MD 03/08/2030 5.71 6.61% STATE GOVT OF KARNATAKA MD 14/10/2030 0.69 6.79% GSEC MD 15/05/2027 4.25 7.10% STATE GOVT OF GUJARAT MD 05/02/2030 0.65 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.76 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 0.38 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.74 7.72% GSEC MD 26/102055 0.32 10.21% NCD BAJAJ FINANCE LTD. MD 22/08/2022 3.70 9.45% NCD POWER FINANCE CORPORATION LTD. MD 01/09/2026 0.24 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD MD 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.07 17/06/2030 3.42 9.23% GSEC MD 23/12/2043 0.03 6.97% KARNATAKA SDL MD 30/09/2031 3.38 6.67% GSEC MD 17/12/2050 0.01 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.37 7.63% GSEC MD 17/06/2059 0.002 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.32

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark Return 1 Month 0.43% -0.14%

EQUITIES 0% - Return 6 Month 2.14% 2.42%

Returns 1 Year 11.23% 11.30% FIXED INCOME 60% - 100% 93.84% SECURITIES Returns 2 Year 11.16% 11.32%

Returns 3 Year 9.30% 9.66% MONEY MARKET 0% – 40% 6.16% INSTRUMENT Inception 9.36% 8.52%

Indepth | Feb 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 : 24.4330 AUM : 6.67 Cr Portfolio Duration : 5.75 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 36.34 0 - 5 YEARS 28.19 SOVEREIGN 36.34 AAA 57.08 5 - 10 YEARS 51.54 FINANCIAL AND INSURANCE ACTIVITIES 22.21 CASH & CASH EQUIVALENTS 6.58 MORE THAN 10 YEARS 20.27 INFRASTRUCTURE 24.84 Total 100.00 Total 100.00 HOUSING 10.03 OTHERS 6.58 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 8.45 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.28 7.17% GSEC MD 08/01/2028 7.24 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 6.94 MD 17/06/2030 3.13 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 6.90 6.97% KARNATAKA SDL MD 30/09/2031 3.09 8.65% RELIANCE INDUSTRIES LTD 11/12/2028 6.86 5.77% GSEC MD 03/08/2030 2.96 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 6.82 7.72% GSEC MD 15/06/2049 2.92 6.80% GSEC MD 15/12/2060 6.28 9.30% NCD POWER GRID CORPORATION MD 28/06/2027 2.18 6.45% GSEC MD 07/10/2029 6.15 7.62% GSEC MD 15/09/2039 1.69 6.79% GSEC MD 15/05/2027 4.77 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.54 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 4.13 7.10% STATE GOVT OF GUJARAT MD 05/02/2030 1.25 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.44 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.42

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.40% -0.14%

EQUITIES 0% - Return 6 Month 2.09% 2.42%

Returns 1 Year 11.23% 11.30% FIXED INCOME SECURITIES Returns 2 Year 11.14% 11.32%

100% 100% Returns 3 Year 9.08% 9.66% MONEY MARKET INSTRUMENT Inception 7.69% 8.05%

Indepth | Feb 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 : 22.0327 AUM : 38.26 Cr Portfolio Duration : 1.61 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 65.15 MORE THAN 6 MONTHS 61.08 SOVEREIGN 65.15 AAA 22.04 LESS THAN 6 MONTHS 38.92 FINANCIAL AND INSURANCE ACTIVITIES 13.86 A1+ 0.64 Total 100.00 INFRASTRUCTURE 8.64 CASH & CASH EQUIVALENTS 12.17 OTHERS 12.34 Total 100.00 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.17% GSEC MD 15/07/2021 25.20 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 4.72 5.22% GSEC MD 15/06/2025 12.55 364 DAYS TREASURY BILL MD 22/07/2021 2.06 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 11.68 7.68% GSEC MD 15/12/2023 1.41 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 8.64 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.64 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 8.21 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 0.30 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 4.95

ASSETASSET ALLOCATION ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.02% 0.23%

EQUITIES 0% - Return 6 Month 1.46% 1.81%

Returns 1 Year 6.77% 4.37% FIXED INCOME 60% -100% 87.19% SECURITIES Returns 2 Year 6.45% 5.52%

Returns 3 Year 3.31% 6.23% MONEY MARKET 0% – 40% 12.81% INSTRUMENT Inception 6.57% 7.23%

Indepth | Feb 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 : 22.5510 AUM : 1.53 Cr Portfolio Duration : 1.65 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 84.23 MORE THAN 6 MONTHS 62.50 SOVEREIGN 84.23 AAA 7.13 LESS THAN 6 MONTHS 37.50 HOUSING SECTOR 7.13 8.64 CASH & CASH EQUIVALENTS 8.64 Total 100.00 OTHERS TOTAL 100.00 Total 100.00

DEBT HOLDINDS % of AUM

6.17% GSEC MD 15/07/2021 29.74 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 24.62 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 13.63 5.22% GSEC MD 15/06/2025 13.07 7.99% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 11/07/2024 7.13 364 DAYS TREASURY BILL MD 16/12/2021 3.17

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.03% 0.23%

EQUITIES 0% - Return 6 Month 1.77% 1.81%

Returns 1 Year 6.42% 4.37% FIXED INCOME SECURITIES Returns 2 Year 5.76% 5.52%

100% 100% Returns 3 Year 5.69% 6.23% MONEY MARKET INSTRUMENT Inception 6.91% 7.13%

Indepth | Feb 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 : 26.7049 AUM : 0.37 Cr Portfolio Duration : 4.34 Benchmark : CRISIL COMPOSITE BOND FUND (80%) + Large-cap Equity Index(20%)

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 67.98 0 - 5 YEARS 7.97 SOVEREIGN 67.98 CASH & CASH EQUIVALENTS 32.02 5 - 10 YEARS 59.85 OTHERS 32.02 Total 100.00 MORE THAN 10 YEARS 32.18 Total 100.00 Total 100.00

EQUITY HOLDINDS % of AUM EQUITY HOLDINDS % of AUM

HDFC BANK LIMITED 1.82 TATA STEEL LIMITED 0.16 RELIANCE INDUSTRIES LIMITED 1.77 INDUSIND BANK LIMITED 0.16 INFOSYS LIMITED 1.43 CIPLA LIMITED 0.15 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.27 POWER GRID CORPORATION OF INDIA LIMITED 0.15 ICICI BANK LIMITED 1.16 ULTRATECH CEMENT LIMITED 0.14 TATA CONSULTANCY SERVICES LIMITED 1.00 GRASIM INDUSTRIES LIMITED 0.14 KOTAK MAHINDRA BANK LIMITED 0.78 JSW STEEL LIMITED 0.14 HINDUSTAN UNILEVER LIMITED 0.61 DR REDDYS LABORATORIES LIMITED 0.12 AXIS BANK LIMITED 0.55 HINDALCO INDUSTRIES LIMITED 0.12 ITC LIMITED 0.53 BHARAT PETROLEUM CORPORATION LIMITED 0.11 LARSEN & TOUBRO LIMITED 0.50 NTPC LIMITED 0.11 BHARTI AIRTEL LIMITED 0.46 BAJAJ AUTO LIMITED 0.11 BAJAJ FINANCE LIMITED 0.38 UPL LIMITED 0.11 STATE BANK OF INDIA 0.37 BRITANNIA INDUSTRIES LIMITED 0.09 HCL TECHNOLOGIES LIMITED 0.34 OIL & NATURAL GAS CORPORATION LIMITED 0.09 ASIAN PAINTS LIMITED 0.32 HDFC LIFE INSURANCE COMPANY LIMITED 0.09 MAHINDRA & MAHINDRA LIMITED 0.26 HERO MOTOCORP LIMITED 0.09 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.24 GAIL (INDIA) LIMITED 0.08 WIPRO LIMITED 0.23 INDIAN OIL CORPORATION LIMITED 0.07 BAJAJ FINSERV LIMITED 0.23 COAL INDIA LIMITED 0.06 TECH MAHINDRA LIMITED 0.23 SBI LIFE INSURANCE COMPANY LIMITED 0.05 MARUTI SUZUKI INDIA LIMITED 0.19 YES BANK LIMITED 0.01 TITAN COMPANY LIMITED 0.19 TATA MOTORS LIMITED 0.18

DEBT HOLDINGS % of AUM

7.17% GSEC MD 08/01/2028 22.99 8.15% GSEC MD 24/11/2026 15.05 7.40% GSEC MD 09/09/2035 14.65 7.72% GSEC MD 15/06/2049 6.16 6.17% GSEC MD 15/07/2021 5.42 5.77% GSEC MD 03/08/2030 2.64 9.23% GSEC MD 23/12/2043 1.06

Indepth | Feb 2021 | 18 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 6.88 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 3.23 INFRASTRUCTURE 2.85 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 1.03 MANUFACTURE OF TOBACCO PRODUCTS 0.53 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 0.51 CIVIL ENGINEERING 0.50 MANUFACTURE OF BASIC METALS 0.42 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.37 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.26 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.19 OTHER MANUFACTURING 0.19 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.14 MANUFACTURE OF TEXTILES 0.14 MANUFACTURE OF FOOD PRODUCTS 0.09 MINING OF COAL AND LIGNITE 0.06 SOVEREIGN 67.98

ASSET ALLOCATION PERFORMANCE

Period Fund Benchmark F&U ACTUAL Return 1 Month -0.46% -0.61% EQUITIES 0% – 20% 17.42% Return 6 Month 5.74% 6.57%

FIXED INCOME 50% – 100% Returns 1 Year 11.73% 11.84% SECURITIES 67.98% Returns 2 Year 10.31% 11.49% MONEY MARKET INSTRUMENT 0 % – 40% 14.61% Returns 3 Year 8.41% 9.19%

Inception 8.91% 8.57%

Indepth | Feb 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 : 28.6883 AUM : 21.43 Cr Portfolio Duration : 5.50 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE

GOVT BONDS 28.56 AAA 14.01 A1+ 0.68 CASH & CASH EQUIVALENTS 56.75 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.39 BAJAJ FINSERV LIMITED 0.47 RELIANCE INDUSTRIES LIMITED 5.15 BAJAJ AUTO LIMITED 0.45 INFOSYS LIMITED 3.93 INDUSIND BANK LIMITED 0.43 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.80 POWER GRID CORPORATION OF INDIA LIMITED 0.41 ICICI BANK LIMITED 3.30 TATA MOTORS LIMITED 0.41 TATA CONSULTANCY SERVICES LIMITED 2.83 TATA STEEL LIMITED 0.39 KOTAK MAHINDRA BANK LIMITED 2.24 NTPC LIMITED 0.38 HINDUSTAN UNILEVER LIMITED 1.75 DIVIS LABORATORIES LIMITED 0.37 ITC LIMITED 1.54 HERO MOTOCORP LIMITED 0.37 AXIS BANK LIMITED 1.46 CIPLA LIMITED 0.36 LARSEN & TOUBRO LIMITED 1.41 GRASIM INDUSTRIES LIMITED 0.36 BHARTI AIRTEL LIMITED 1.16 BRITANNIA INDUSTRIES LIMITED 0.36 BAJAJ FINANCE LIMITED 1.12 EICHER MOTORS LIMITED 0.33 STATE BANK OF INDIA 0.96 JSW STEEL LIMITED 0.32 ASIAN PAINTS LIMITED 0.94 SBI LIFE INSURANCE COMPANY LIMITED 0.30 HCL TECHNOLOGIES LIMITED 0.86 HINDALCO INDUSTRIES LIMITED 0.29 MARUTI SUZUKI INDIA LIMITED 0.83 OIL & NATURAL GAS CORPORATION LIMITED 0.28 MAHINDRA & MAHINDRA LIMITED 0.63 UPL LIMITED 0.27 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 BHARAT PETROLEUM CORPORATION LIMITED 0.27 WIPRO LIMITED 0.54 SHREE CEMENT LIMITED 0.27 ULTRATECH CEMENT LIMITED 0.53 COAL INDIA LIMITED 0.23 NESTLE INDIA LIMITED 0.53 GAIL (INDIA) LIMITED 0.21 TECH MAHINDRA LIMITED 0.51 INDIAN OIL CORPORATION LIMITED 0.21 TITAN COMPANY LIMITED 0.51 YES BANK LIMITED 0.03 DR REDDYS LABORATORIES LIMITED 0.48 HDFC LIFE INSURANCE COMPANY LIMITED 0.48

DEBT HOLDINDS % of AUM DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 14.87 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 1.07 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 5.77 6.80% GSEC MD 15/12/2060 0.98 7.17% GSEC MD 08/01/2028 3.86 6.61% STATE GOVT OF KARNATAKA MD 14/10/2030 0.91 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 3.86 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.68 5.77% GSEC MD 03/08/2030 2.76 8.03% FOOD CORPORATION OF INDIA SPCIAL BOND MD 15/12/2024 0.61 7.62% GSEC MD 15/09/2039 2.10 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.51 7.72% GSEC MD 15/06/2049 2.04 8.15% GSEC MD 24/11/2026 0.26 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 1.62 8.83% GSEC MD 12/12/2041 0.18 9.41% NCD INDIA INFRASTRUCTURE FINANCE COMPANY LTD. MD 27/07/2037 1.18

Indepth | Feb 2021 | 20 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.26 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.68 INFRASTRUCTURE 19.37 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.96 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.77 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.57 MANUFACTURE OF TOBACCO PRODUCTS 1.54 CIVIL ENGINEERING 1.41 MANUFACTURE OF BASIC METALS 1.00 MANUFACTURE OF FOOD PRODUCTS 0.88 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.82 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.80 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.63 OTHER MANUFACTURING 0.51 MANUFACTURE OF TEXTILES 0.36 MINING OF COAL AND LIGNITE 0.23 HOUSING SECTOR 1.07 SOVEREIGN 28.56

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.32% -1.66%

EQUITIES 30% – 70% 51.18% Return 6 Month 12.34% 15.88%

Returns 1 Year 10.23% 13.04% FIXED INCOME SECURITIES Returns 2 Year 10.87% 11.89% 30 % – 70% 48.82% Returns 3 Year 7.03% 8.14% MONEY MARKET INSTRUMENT Inception 8.83% 9.14%

Indepth | Feb 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 : 31.6400 AUM : 3.04 Cr Portfolio Duration : 5.71 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 26.88 SOVEREIGN 26.88 AAA 14.34 INFRASTRUCTURE 10.55 CASH & CASH EQUIVALENTS 58.78 HOUSING SECTOR 3.79 Total 100.00 OTHERS 58.78 TOTAL 100.00

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.49 BAJAJ FINSERV LIMITED 0.49 RELIANCE INDUSTRIES LIMITED 5.25 DR REDDYS LABORATORIES LIMITED 0.48 INFOSYS LIMITED 4.00 BAJAJ AUTO LIMITED 0.46 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.87 INDUSIND BANK LIMITED 0.44 ICICI BANK LIMITED 3.37 POWER GRID CORPORATION OF INDIA LIMITED 0.42 TATA CONSULTANCY SERVICES LIMITED 2.88 TATA MOTORS LIMITED 0.42 KOTAK MAHINDRA BANK LIMITED 2.28 CIPLA LIMITED 0.41 HINDUSTAN UNILEVER LIMITED 1.78 TATA STEEL LIMITED 0.40 ITC LIMITED 1.57 DIVIS LABORATORIES LIMITED 0.39 AXIS BANK LIMITED 1.52 HERO MOTOCORP LIMITED 0.39 LARSEN & TOUBRO LIMITED 1.44 NTPC LIMITED 0.38 BHARTI AIRTEL LIMITED 1.17 GRASIM INDUSTRIES LIMITED 0.38 BAJAJ FINANCE LIMITED 1.15 BRITANNIA INDUSTRIES LIMITED 0.37 ASIAN PAINTS LIMITED 0.99 EICHER MOTORS LIMITED 0.33 STATE BANK OF INDIA 0.98 JSW STEEL LIMITED 0.33 HCL TECHNOLOGIES LIMITED 0.91 SBI LIFE INSURANCE COMPANY LIMITED 0.31 MARUTI SUZUKI INDIA LIMITED 0.88 SHREE CEMENT LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.65 HINDALCO INDUSTRIES LIMITED 0.29 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.58 OIL & NATURAL GAS CORPORATION LIMITED 0.28 NESTLE INDIA LIMITED 0.56 BHARAT PETROLEUM CORPORATION LIMITED 0.27 WIPRO LIMITED 0.55 UPL LIMITED 0.27 ULTRATECH CEMENT LIMITED 0.54 COAL INDIA LIMITED 0.23 TITAN COMPANY LIMITED 0.54 INDIAN OIL CORPORATION LIMITED 0.23 TECH MAHINDRA LIMITED 0.53 GAIL (INDIA) LIMITED 0.21 HDFC LIFE INSURANCE COMPANY LIMITED 0.52 YES BANK LIMITED 0.02

DEBT HOLDINDS % of AUM

7.40% GSEC MD 09/09/2035 9.01 7.95% FERTILISER BOND MD 18/02/2026 8.67 7.17% GSEC MD 08/01/2028 5.30 5.77% GSEC MD 03/08/2030 3.90 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 3.79 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.61 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 3.56 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 3.39

Indepth | Feb 2021 | 22 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 20.44 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.86 INFRASTRUCTURE 18.77 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.04 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.86 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.63 MANUFACTURE OF TOBACCO PRODUCTS 1.57 CIVIL ENGINEERING 1.44 MANUFACTURE OF BASIC METALS 1.02 MANUFACTURE OF FOOD PRODUCTS 0.93 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.85 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.84 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.65 OTHER MANUFACTURING 0.54 MANUFACTURE OF TEXTILES 0.38 MINING OF COAL AND LIGNITE 0.23 HOUSING SECTOR 3.79 SOVEREIGN 26.88

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.29% -1.66%

EQUITIES 30%-70% 52.49% Return 6 Month 12.64% 15.88%

Returns 1 Year 10.50% 13.04% FIXED INCOME SECURITIES Returns 2 Year 10.76% 11.89%

30% -70% 47.51% Returns 3 Year 7.38% 8.14% MONEY MARKET INSTRUMENT Inception 9.96% 12.17%

Indepth | Feb 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 : 21.2735 AUM : 22.55 Cr Portfolio Duration : 5.44 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 24.10 SOVEREIGN 24.10 AAA 11.82 FINANCIAL AND INSURANCE ACTIVITIES 2.68 A1+ 2.17 INFRASTRUCTURE 10.28 CASH & CASH EQUIVALENTS 61.91 HOUSING SECTOR 1.02 Total 100.00 OTHERS 61.91 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.47 BAJAJ AUTO LIMITED 0.46 RELIANCE INDUSTRIES LIMITED 5.23 INDUSIND BANK LIMITED 0.44 INFOSYS LIMITED 3.99 POWER GRID CORPORATION OF INDIA LIMITED 0.41 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.86 TATA MOTORS LIMITED 0.41 ICICI BANK LIMITED 3.35 TATA STEEL LIMITED 0.39 TATA CONSULTANCY SERVICES LIMITED 2.85 NTPC LIMITED 0.38 KOTAK MAHINDRA BANK LIMITED 2.27 DIVIS LABORATORIES LIMITED 0.37 HINDUSTAN UNILEVER LIMITED 1.76 HERO MOTOCORP LIMITED 0.37 ULTRATECH CEMENT LIMITED 1.67 CIPLA LIMITED 0.37 ITC LIMITED 1.55 GRASIM INDUSTRIES LIMITED 0.36 AXIS BANK LIMITED 1.47 BRITANNIA INDUSTRIES LIMITED 0.36 LARSEN & TOUBRO LIMITED 1.42 EICHER MOTORS LIMITED 0.33 BHARTI AIRTEL LIMITED 1.16 JSW STEEL LIMITED 0.32 BAJAJ FINANCE LIMITED 1.13 SBI LIFE INSURANCE COMPANY LIMITED 0.30 STATE BANK OF INDIA 0.97 HINDALCO INDUSTRIES LIMITED 0.29 ASIAN PAINTS LIMITED 0.95 OIL & NATURAL GAS CORPORATION LIMITED 0.28 HCL TECHNOLOGIES LIMITED 0.86 UPL LIMITED 0.28 MARUTI SUZUKI INDIA LIMITED 0.84 BHARAT PETROLEUM CORPORATION LIMITED 0.27 MAHINDRA & MAHINDRA LIMITED 0.62 SHREE CEMENT LIMITED 0.26 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 COAL INDIA LIMITED 0.23 WIPRO LIMITED 0.54 INDIAN OIL CORPORATION LIMITED 0.21 NESTLE INDIA LIMITED 0.53 GAIL (INDIA) LIMITED 0.20 TECH MAHINDRA LIMITED 0.52 YES BANK LIMITED 0.02 TITAN COMPANY LIMITED 0.52 DR REDDYS LABORATORIES LIMITED 0.49 HDFC LIFE INSURANCE COMPANY LIMITED 0.48 BAJAJ FINSERV LIMITED 0.47

Indepth | Feb 2021 | 24 DEBT HOLDINGS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 8.63 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 6.40 5.77% GSEC MD 03/08/2030 2.63 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 2.44 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 2.39 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 2.17 7.62% GSEC MD 15/09/2039 2.00 7.72% GSEC MD 26/102055 1.81 6.61% STATE GOVT OF KARNATAKA MD 14/10/2030 1.78 7.72% GSEC MD 15/06/2049 1.63 7.17% GSEC MD 08/01/2028 1.43 6.80% GSEC MD 15/12/2060 1.39 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 1.02 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 0.51 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.49 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.48 7.75% POWER FINANCE CORPORATION LIMITED 11/06/2030 0.48 7.40% GSEC MD 09/09/2035 0.41

INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.92 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.75 INFRASTRUCTURE 18.41 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.98 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.93 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.78 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.58 MANUFACTURE OF TOBACCO PRODUCTS 1.55 CIVIL ENGINEERING 1.42 MANUFACTURE OF BASIC METALS 1.00 MANUFACTURE OF FOOD PRODUCTS 0.89 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.83 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.62 OTHER MANUFACTURING 0.52 MANUFACTURE OF TEXTILES 0.36 MINING OF COAL AND LIGNITE 0.23 HOUSING SECTOR 1.02 SOVEREIGN 24.10

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.28% -1.66%

EQUITIES 20%-80% 52.81% Return 6 Month 12.26% 15.88%

Returns 1 Year 9.80% 13.04% FIXED INCOME SECURITIES Returns 2 Year 10.55% 11.89% 20%-80% 47.19% Returns 3 Year 6.91% 8.14% MONEY MARKET INSTRUMENT Inception 7.56% 8.59%

Indepth | Feb 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 : 19.7271 AUM : 42.63 Cr Portfolio Duration : 0.05

RATING PROFILE SECTORAL PROFILE Current NAV 19.7271 GOVT BONDS 11.88 SOVEREIGN 11.88 CASH & CASH EQUIVALENTS 88.12 OTHERS 88.12 Max NAV 20.8443 Total 100.00 Total 100.00 80% of Max NAV 16.6754

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 7.60 TATA MOTORS LIMITED 0.67 INFOSYS LIMITED 5.33 TATA STEEL LIMITED 0.64 HDFC BANK LIMITED 5.29 NTPC LIMITED 0.61 TATA CONSULTANCY SERVICES LIMITED 3.85 DIVIS LABORATORIES LIMITED 0.61 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.74 HERO MOTOCORP LIMITED 0.60 ICICI BANK LIMITED 3.24 CIPLA LIMITED 0.60 HINDUSTAN UNILEVER LIMITED 2.87 GRASIM INDUSTRIES LIMITED 0.59 ITC LIMITED 2.53 BRITANNIA INDUSTRIES LIMITED 0.59 LARSEN & TOUBRO LIMITED 2.32 EICHER MOTORS LIMITED 0.54 KOTAK MAHINDRA BANK LIMITED 2.20 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.53 BHARTI AIRTEL LIMITED 1.89 JSW STEEL LIMITED 0.52 ASIAN PAINTS LIMITED 1.54 HINDALCO INDUSTRIES LIMITED 0.47 AXIS BANK LIMITED 1.44 HDFC LIFE INSURANCE COMPANY LIMITED 0.47 MARUTI SUZUKI INDIA LIMITED 1.36 BAJAJ FINSERV LIMITED 0.46 HCL TECHNOLOGIES LIMITED 1.17 OIL & NATURAL GAS CORPORATION LIMITED 0.46 BAJAJ FINANCE LIMITED 1.10 UPL LIMITED 0.44 MAHINDRA & MAHINDRA LIMITED 1.02 BHARAT PETROLEUM CORPORATION LIMITED 0.44 STATE BANK OF INDIA 0.95 SHREE CEMENT LIMITED 0.44 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.90 INDUSIND BANK LIMITED 0.42 ULTRATECH CEMENT LIMITED 0.87 COAL INDIA LIMITED 0.38 NESTLE INDIA LIMITED 0.86 INDIAN OIL CORPORATION LIMITED 0.34 TITAN COMPANY LIMITED 0.85 GAIL (INDIA) LIMITED 0.33 DR REDDYS LABORATORIES LIMITED 0.79 SBI LIFE INSURANCE COMPANY LIMITED 0.29 BAJAJ AUTO LIMITED 0.74 YES BANK LIMITED 0.02 WIPRO LIMITED 0.73 TECH MAHINDRA LIMITED 0.70 POWER GRID CORPORATION OF INDIA LIMITED 0.67

DEBT HOLDINGS % of AUM

364 DAYS TREASURY BILL MD 18/03/2021 11.65 364 DAYS TREASURY BILL MD 16/09/2021 0.23

Indepth | Feb 2021 | 26 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 19.62 INFRASTRUCTURE 12.88 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 11.78 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 4.86 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 2.90 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.58 MANUFACTURE OF TOBACCO PRODUCTS 2.53 CIVIL ENGINEERING 2.32 MANUFACTURE OF BASIC METALS 1.63 MANUFACTURE OF FOOD PRODUCTS 1.45 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.34 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.31 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.02 OTHER MANUFACTURING 0.85 MANUFACTURE OF TEXTILES 0.59 MINING OF COAL AND LIGNITE 0.38 SOVEREIGN 11.88

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark

Return 1 Month -1.81% -1.66% EQUITIES 0%-100% 68.03% Return 6 Month 9.91% 15.88%

Returns 1 Year -0.94% 13.04% FIXED INCOME SECURITIES Returns 2 Year 2.41% 11.89% 0%-100% 31.97% Returns 3 Year 1.38% 8.14% MONEY MARKET INSTRUMENT Inception 6.14% 9.16%

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

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AEGON, toh tension gone. ABOUT AEGON LIFE

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

ABOUT AEGON

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

ABOUT BENNETT, COLEMAN & COMPANY LIMITED

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

Indepth | Feb 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), Mumbai - 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 | Feb 2021 | 30