September 2020 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 | Aug 2020 | 2 Indian Securities Market Commentary for the month of August 2020

Indian Equities moved higher (Nifty +2.8%) in August, in line with the region and S&P which touched new highs during the month.

Indian Bonds witnessed price decline as yields spiked to 6.20% for 10-year G-Sec during August before recovering to 6.12% at the end of August following announcement of Open Market Operations by RBI. Jump in inflation and a wait & watch mode adopted by the MPC could be cited as major reasons for the spike from a level of 5.76% where we ended July. Bond yields further cooled down in early September as RBI announced further OMOs and other regu- latory measures.

Indian rupee appreciated by 1.6% to end the month at Rs.73.62 to a US Dollar. The price of Brent Crude has been in a range and closed the month at Dollar 45 to a barrel. Gold was steady at Dollar 1,968 for an ounce of gold.

Dollar weakness, gradual re-opening of the economy and hopes of a vaccine supported sentiments for equities.

While the growth rate / doubling rate of virus spread in moderated over August, absolute daily cases touched new highs stalling the economic recovery.

Geopolitical tensions flared up once again along the India-China border spooking the markets.

Market Regulator SEBI disallowed extension of new higher margin norms taking effect from 1st September, poten- tially reducing the retail activity going forward.

In flow trends, slew of primary capital raises by financials led to a strong FII (Foreign Institutional Investor) net inflow of $6bn in August whereas DIIs (Domestic institutional Investors) continued to remain net sellers, largely contributed by Domestic Mutual Funds that saw their first redemption in net equity flows (-Rs38.5bn in July) since March’16.

Growth: 1st Quarter FY21 Real GDP growth contracted by 23.9% Year on Year, weaker than the street estimates. Led by a strict lockdown and labor migration, construction was the worst hit, followed by trade, hotels, transport and communication.

Inflation: July’s CPI (Consumer price Inflation) print of 6.9% reduced chances of a rate cut for the rest of this fiscal year. RBI’s recent policy statement had predicted inflation to stay elevated till September and see moderation in 2nd half of FY21.

Trade Deficit: India’s trade balance turned to a deficit of $4.8bn in July after a rare surplus of $0.8bn in June, as gold and other imports started to pick-up. Exports in July were down 10% at $23.6bn while imports at $28.4bn.

Indepth | Aug 2020 | 3 Fiscal Deficit: India’s fiscal deficit stood at Rs8.2trn at the end of July, at 103% of the budgeted target for the current fiscal year. Sharp fall in tax receipts coupled with resilient government expenditure led to the high deficit in the period.

Monetary Policy: MPC (Monetary Policy committee) took a pause in the rate easing cycle while refraining from Indian Equities moved higher (Nifty +2.8%) in August, in line with the region and S&P which touched new highs giving any specific forecasts on growth & inflation given heightened uncertainty. The MPC also announced a plan during the month. to allow restructuring of loans impacted by the pandemic just as the moratorium period was coming to an end in August. To cap bond yields & lower funding cost, RBI increased the HTM (Held to Maturity) limits for banks, Indian Bonds witnessed price decline as yields spiked to 6.20% for 10-year G-Sec during August before recovering announced Rs200bn OMO (Open market operation) and Rs1 lakh crores term repo operations. to 6.12% at the end of August following announcement of Open Market Operations by RBI. Jump in inflation and a wait & watch mode adopted by the MPC could be cited as major reasons for the spike from a level of 5.76% where GST Council Meet: Auto industry was disappointed after the GST Council didn’t cut rates on 2W, especially after the we ended July. Bond yields further cooled down in early September as RBI announced further OMOs and other regu- Finance Minister’s comment on 2-wheelers not being demerit / luxury goods. In response to states plea to release latory measures. compensation cess shortfall of ~Rs2.4trn, the centre gave the states two options, both involving the states to borrow from the RBI. appreciated by 1.6% to end the month at Rs.73.62 to a US Dollar. The price of Brent Crude has been in a range and closed the month at Dollar 45 to a barrel. Gold was steady at Dollar 1,968 for an ounce of gold. Monsoon: After an erratic July, August witnessed excess rainfall of 26%, highest print since 1901 (when the weather office started recording). Rainfall is already at a record in states of Maharashtra, Madhya Pradesh, Dollar weakness, gradual re-opening of the economy and hopes of a vaccine supported sentiments for equities. Gujarat, Odisha.

While the growth rate / doubling rate of virus spread in India moderated over August, absolute daily cases touched Unlock 4.0: Centre provided further relaxations under Unlock 4.0 in non-containment zones – Metro rail will be new highs stalling the economic recovery. allowed from 7th September in a graded manner, no restrictions on inter / intra-state movement of people and goods, social / sports / cultural / religious / other congregations will be permitted with a ceiling of 100 persons from Geopolitical tensions flared up once again along the India-China border spooking the markets. 21 September. However, schools, colleges, cinema halls, swimming pools, theatres (except open-air theatres allowed from 21st September) will remain closed. Market Regulator SEBI disallowed extension of new higher margin norms taking effect from 1st September, poten- tially reducing the retail activity going forward. Come September, markets will react to global cues and trajectory of economic recovery.

In flow trends, slew of primary capital raises by financials led to a strong FII (Foreign Institutional Investor) net inflow of $6bn in August whereas DIIs (Domestic institutional Investors) continued to remain net sellers, largely contributed by Domestic Mutual Funds that saw their first redemption in net equity flows (-Rs38.5bn in July) since March’16.

Growth: 1st Quarter FY21 Real GDP growth contracted by 23.9% Year on Year, weaker than the street estimates. Led by a strict lockdown and labor migration, construction was the worst hit, followed by trade, hotels, transport and communication.

Inflation: July’s CPI (Consumer price Inflation) print of 6.9% reduced chances of a rate cut for the rest of this fiscal year. RBI’s recent policy statement had predicted inflation to stay elevated till September and see moderation in 2nd half of FY21.

Trade Deficit: India’s trade balance turned to a deficit of $4.8bn in July after a rare surplus of $0.8bn in June, as gold and other imports started to pick-up. Exports in July were down 10% at $23.6bn while imports at $28.4bn.

Indepth | Aug 2020 | 4 FUND MANAGEMENT TEAM

FUND MANAGER

AVINASH AGARWAL

Qualification : MBA (IIM-L) Experience : 14 years Number of funds managed : 2

JYOTI PRAKASH

Qualification : CFA-1993, PGDRM (IRMA) Experience : 33 years Number of funds managed : 9

ANKUR KHANDELWAL

Qualification : B.Tech (IT), MBA (Finance) Experience : 10 years Number of funds managed : 9

Indepth | Aug 2020 | 5 ENHANCED EQUITY FUND SFIN: ULIF00105/07/08EEF0138 Inception Date 24 - 7 - 2008

Fund Manager : Jyoti Prakash 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 : 27.6733 AUM : 89.33 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.49 LIMITED 1.51 LIMITED 8.04 DR REDDYS LABORATORIES LIMITED 1.32 HDFC BANK LIMITED 7.89 INDIA LIMITED 1.27 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.92 LIMITED 1.24 LIMITED 4.90 CONTAINER CORPORATION OF INDIA LIMITED 1.23 SBI-ETF NIFTY BANK 4.88 LIMITED 1.23 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.44 HCL TECHNOLOGIES LIMITED 1.20 LIMITED 4.09 LIMITED 1.19 ICICI BANK LIMITED 3.77 GAIL (INDIA) LIMITED 1.11 TATA CONSULTANCY SERVICES LIMITED 3.73 LIMITED 1.05 LARSEN & TOUBRO LIMITED 3.14 LIMITED 0.88 LIMITED 2.97 HDFC LIFE INSURANCE COMPANY LIMITED 0.87 ITC LIMITED 2.62 LIMITED 0.80 NESTLE INDIA LIMITED 2.19 SBI LIFE INSURANCE COMPANY LIMITED 0.76 SUN PHARMACEUTICAL INDUSTRIES LIMITED 2.18 LIMITED 0.74 CORPORATION LIMITED 2.15 LIMITED 0.72 ULTRATECH CEMENT LIMITED 1.93 LIMITED 0.64 LIMITED 1.88 LIMITED 0.61 MAHINDRA & MAHINDRA LIMITED 1.71 STATE 0.56 NTPC LIMITED 1.68 POWER GRID CORPORATION OF INDIA LIMITED 1.68

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.49 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.71 INFRASTRUCTURE 21.42 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.27 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.36 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.80 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.09 OTHER MANUFACTURING 0.72 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 4.73 MINING OF COAL AND LIGNITE 0.61 MANUFACTURE OF FOOD PRODUCTS 4.07 CIVIL ENGINEERING 3.14 MANUFACTURE OF TOBACCO PRODUCTS 2.62 MANUFACTURE OF BASIC METALS 1.93 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.93

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.09% 2.84% EQUITIES 75% TO 100% 99.20% Return 6 Month 1.93% 1.66% FIXED INCOME SECURITIES 0 % TO 25% 0.80% Returns 1 Year 1.68% 3.30% MONEY MARKET INSTRUMENT Returns 2 Year -2.02% -1.26%

Returns 3 Year 3.75% 4.70%

Inception 8.76% 8.10%

Indepth | Aug 2020 | 6 ACCELERATOR FUND SFIN: ULIF01203/09/10ACCELERATE0138 Inception Date 16 - 9 - 2010

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 long term. This fund will also have the flexibility to invest in fixed interest assets and money market instruments up to 20%. NAV : 19.5513 AUM : 176.66 Cr Benchmark : S&P BSE 100

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 8.91 SBI LIFE INSURANCE COMPANY LIMITED 0.62 INFOSYS LIMITED 8.45 TATA STEEL LIMITED 0.56 HDFC BANK LIMITED 7.58 JSW STEEL LIMITED 0.52 BHARTI AIRTEL LIMITED 4.98 CORPORATION LIMITED 0.49 ICICI BANK LIMITED 4.25 HINDALCO INDUSTRIES LIMITED 0.48 DR REDDYS LABORATORIES LIMITED 3.82 LIMITED 0.37 DIVIS LABORATORIES LIMITED 3.43 HINDUSTAN UNILEVER LIMITED 3.43 TATA CONSULTANCY SERVICES LIMITED 3.33 MAHINDRA & MAHINDRA LIMITED 3.31 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.03 INDUSTRY % of AUM ITC LIMITED 2.99 KOTAK MAHINDRA BANK LIMITED 2.83 HCL TECHNOLOGIES LIMITED 2.67 FINANCIAL AND INSURANCE ACTIVITIES 22.70 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 2.17 INFRASTRUCTURE 16.15 HERO MOTOCORP LIMITED 2.04 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.45 UPL LIMITED 1.72 LIMITED 1.71 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 13.04 BRITANNIA INDUSTRIES LIMITED 1.69 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 9.47 LIMITED 1.57 TITAN COMPANY LIMITED 1.55 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 3.31 1.32 MANUFACTURE OF TOBACCO PRODUCTS 2.99 INDUSIND BANK LIMITED 1.28 HDFC LIFE INSURANCE COMPANY LIMITED 1.17 MANUFACTURE OF FOOD PRODUCTS 2.65 HONEYWELL AUTOMATION INDIA LIMITED 1.11 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 2.04 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.00 ASIAN PAINTS LIMITED 0.99 MANUFACTURE OF BASIC METALS 1.56 ABBOTT INDIA LIMITED 0.99 OTHER MANUFACTURING 1.55 LIMITED 0.96 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 1.11 ENTERPRISE LIMITED 0.96 LIMITED 0.96 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.84 ULTRATECH CEMENT LIMITED 0.84 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.37 LIMITED 0.83 NTPC LIMITED 0.81 KANSAI NEROLAC PAINTS LIMITED 0.76 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.65 CIPLA LIMITED 0.65 AXIS BANK LIMITED 0.62

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.23% 2.89%

EQUITIES 80% – 100% 94.39% Return 6 Month 2.76% 1.67%

Returns 1 Year 8.35% 3.06%

FIXED INCOME SECURITIES Returns 2 Year 0.44% -2.25%

0% TO 20% 5.61% Returns 3 Year 5.15% 3.63% MONEY MARKET INSTRUMENT Inception 7.00% 6.73%

Indepth | Aug 2020 | 7 PENSION ENHANCED EQUITY FUND SFIN: ULIF00605/01/09PEEQUITY0138 Inception Date 19 - 1 - 2009

Fund Manager : Jyoti Prakash 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 : 44.2882 AUM : 12.31 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.53 DR REDDYS LABORATORIES LIMITED 1.32 INFOSYS LIMITED 8.10 MARUTI SUZUKI INDIA LIMITED 1.27 HDFC BANK LIMITED 7.88 CONTAINER CORPORATION OF INDIA LIMITED 1.24 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.95 AXIS BANK LIMITED 1.23 HINDUSTAN UNILEVER LIMITED 4.94 HCL TECHNOLOGIES LIMITED 1.21 SBI-ETF NIFTY BANK 4.90 ASIAN PAINTS LIMITED 1.19 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.46 GAIL (INDIA) LIMITED 1.11 BHARTI AIRTEL LIMITED 4.11 HINDALCO INDUSTRIES LIMITED 1.06 ICICI BANK LIMITED 3.77 CIPLA LIMITED 1.00 TATA CONSULTANCY SERVICES LIMITED 3.72 TATA STEEL LIMITED 0.89 LARSEN & TOUBRO LIMITED 3.16 HDFC LIFE INSURANCE COMPANY LIMITED 0.88 KOTAK MAHINDRA BANK LIMITED 2.99 BAJAJ AUTO LIMITED 0.81 ITC LIMITED 2.61 SBI LIFE INSURANCE COMPANY LIMITED 0.76 NESTLE INDIA LIMITED 2.20 TECH MAHINDRA LIMITED 0.75 SUN PHARMACEUTICAL INDUSTRIES LIMITED 2.19 TITAN COMPANY LIMITED 0.72 BHARAT PETROLEUM CORPORATION LIMITED 2.17 WIPRO LIMITED 0.65 ULTRATECH CEMENT LIMITED 1.94 COAL INDIA LIMITED 0.62 BRITANNIA INDUSTRIES LIMITED 1.89 STATE BANK OF INDIA 0.57 MAHINDRA & MAHINDRA LIMITED 1.72 NTPC LIMITED 1.69 POWER GRID CORPORATION OF INDIA LIMITED 1.68 BAJAJ FINSERV LIMITED 1.52

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.56 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.94 INFRASTRUCTURE 21.53 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.72 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.43 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.27 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.13 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.81 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 4.51 OTHER MANUFACTURING 0.72 MANUFACTURE OF FOOD PRODUCTS 4.09 MINING OF COAL AND LIGNITE 0.62 CIVIL ENGINEERING 3.16 MANUFACTURE OF TOBACCO PRODUCTS 2.61 MANUFACTURE OF BASIC METALS 1.94

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.10% 2.84% EQUITIES 75% - 100% 99.40% Return 6 Month 2.25% 1.66%

FIXED INCOME Returns 1 Year 1.95% 3.30% SECURITIES 0% TO 25% 0.60% Returns 2 Year -1.91% -1.26% MONEY MARKET INSTRUMENT Returns 3 Year 3.95% 4.70%

Inception 13.66% 12.67%

Indepth | Aug 2020 | 8 PENSION INDEX FUND SFIN: ULIF01005/01/09PINDEX0138 Inception Date 22 - 1 - 2009

Fund Manager : Jyoti Prakash 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 : 41.3829 AUM : 7.44 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 13.42 HDFC LIFE INSURANCE COMPANY LIMITED 0.88 HDFC BANK LIMITED 9.84 WIPRO LIMITED 0.86 INFOSYS LIMITED 6.92 HERO MOTOCORP LIMITED 0.83 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 6.45 BAJAJ AUTO LIMITED 0.81 ICICI BANK LIMITED 5.54 INDUSIND BANK LIMITED 0.80 TATA CONSULTANCY SERVICES LIMITED 4.83 BAJAJ FINSERV LIMITED 0.79 KOTAK MAHINDRA BANK LIMITED 4.18 CIPLA LIMITED 0.77 HINDUSTAN UNILEVER LIMITED 3.85 BHARAT PETROLEUM CORPORATION LIMITED 0.69 ITC LIMITED 3.39 TATA STEEL LIMITED 0.66 BHARTI AIRTEL LIMITED 2.51 OIL & NATURAL GAS CORPORATION LIMITED 0.62 AXIS BANK LIMITED 2.51 LIMITED 0.62 LARSEN & TOUBRO LIMITED 2.41 COAL INDIA LIMITED 0.60 LIMITED 1.88 UPL LIMITED 0.59 MARUTI SUZUKI INDIA LIMITED 1.85 JSW STEEL LIMITED 0.58 ASIAN PAINTS LIMITED 1.79 HINDALCO INDUSTRIES LIMITED 0.58 STATE BANK OF INDIA 1.70 LIMITED 0.57 HCL TECHNOLOGIES LIMITED 1.58 LIMITED 0.57 MAHINDRA & MAHINDRA LIMITED 1.22 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.56 NESTLE INDIA LIMITED 1.20 LIMITED 0.54 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.18 LIMITED 0.46 DR REDDYS LABORATORIES LIMITED 1.09 ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.40 NTPC LIMITED 0.98 GAIL (INDIA) LIMITED 0.38 TITAN COMPANY LIMITED 0.98 BHARTI INFRATEL LIMITED 0.36 POWER GRID CORPORATION OF INDIA LIMITED 0.96 LIMITED 0.05 TECH MAHINDRA LIMITED 0.96 ULTRATECH CEMENT LIMITED 0.95 BRITANNIA INDUSTRIES LIMITED 0.93

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 34.62 MANUFACTURE OF BASIC METALS 1.82 INFRASTRUCTURE 20.95 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.65 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 15.15 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.53 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.23 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.22 MANUFACTURE OF TOBACCO PRODUCTS 3.39 OTHER MANUFACTURING 0.98 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.04 MINING OF COAL AND LIGNITE 0.60 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.01 MANUFACTURE OF TEXTILES 0.57 CIVIL ENGINEERING 2.41 PROGRAMMING AND BROADCASTING ACTIVITIES 0.40 MANUFACTURE OF FOOD PRODUCTS 2.13

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.79% 2.84% EQUITIES 98% - 100% 99.69% Return 6 Month 1.59% 1.66%

FIXED INCOME Returns 1 Year 2.79% 3.30% SECURITIES 0% TO 2% 0.31% Returns 2 Year -1.47% -1.26% MONEY MARKET INSTRUMENT Returns 3 Year 4.44% 4.70%

Inception 12.99% 13.14%

Indepth | Aug 2020 | 9 GROUP EQUITY FUND SFIN: ULGF00228/03/11GEQUITY0138 Inception Date 28 - 3 - 2011

Fund Manager : Jyoti Prakash 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 : 22.6492 AUM : 12.89 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.49 BAJAJ FINSERV LIMITED 1.52 INFOSYS LIMITED 8.05 DR REDDYS LABORATORIES LIMITED 1.32 HDFC BANK LIMITED 7.91 MARUTI SUZUKI INDIA LIMITED 1.26 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.93 CIPLA LIMITED 1.24 HINDUSTAN UNILEVER LIMITED 4.93 CONTAINER CORPORATION OF INDIA LIMITED 1.23 SBI-ETF NIFTY BANK 4.88 AXIS BANK LIMITED 1.23 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.38 ASIAN PAINTS LIMITED 1.18 BHARTI AIRTEL LIMITED 4.09 HCL TECHNOLOGIES LIMITED 1.18 ICICI BANK LIMITED 3.78 GAIL (INDIA) LIMITED 1.11 TATA CONSULTANCY SERVICES LIMITED 3.70 HINDALCO INDUSTRIES LIMITED 1.05 LARSEN & TOUBRO LIMITED 3.15 TATA STEEL LIMITED 0.88 KOTAK MAHINDRA BANK LIMITED 2.97 HDFC LIFE INSURANCE COMPANY LIMITED 0.88 ITC LIMITED 2.59 BAJAJ AUTO LIMITED 0.80 NESTLE INDIA LIMITED 2.19 SBI LIFE INSURANCE COMPANY LIMITED 0.76 SUN PHARMACEUTICAL INDUSTRIES LIMITED 2.18 TITAN COMPANY LIMITED 0.72 BHARAT PETROLEUM CORPORATION LIMITED 2.16 TECH MAHINDRA LIMITED 0.71 ULTRATECH CEMENT LIMITED 1.91 WIPRO LIMITED 0.65 BRITANNIA INDUSTRIES LIMITED 1.88 COAL INDIA LIMITED 0.62 MAHINDRA & MAHINDRA LIMITED 1.71 STATE BANK OF INDIA 0.56 NTPC LIMITED 1.68 POWER GRID CORPORATION OF INDIA LIMITED 1.68

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.54 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.71 INFRASTRUCTURE 21.44 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.30 SEMI-TRAILERS 1.26 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.11 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.80 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 4.73 OTHER MANUFACTURING 0.72 MANUFACTURE OF FOOD PRODUCTS 4.07 MINING OF COAL AND LIGNITE 0.62 CIVIL ENGINEERING 3.15 MANUFACTURE OF TOBACCO PRODUCTS 2.59 MANUFACTURE OF BASIC METALS 1.94 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.91

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.18% 2.84%

EQUITIES 80% TO 100% 99.2% Return 6 Month 2.58% 1.66%

Returns 1 Year 1.78% 3.30% FIXED INCOME SECURITIES Returns 2 Year -1.44% -1.26%

0 % – 20% 0.8% Returns 3 Year 4.44% 4.70% MONEY MARKET INSTRUMENT Inception 9.05% 7.63%

Indepth | Aug 2020 | 10 BLUE CHIP EQUITY FUND ULIF01511/02/14BLUECHIPEQ0138 Inception Date 22 - 12 - 2014

Fund Manager : Jyoti Prakash 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 : 13.3747 AUM : 128.47 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 9.47 BAJAJ FINSERV LIMITED 1.51 INFOSYS LIMITED 8.05 DR REDDYS LABORATORIES LIMITED 1.32 HDFC BANK LIMITED 7.90 MARUTI SUZUKI INDIA LIMITED 1.26 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.93 CIPLA LIMITED 1.24 HINDUSTAN UNILEVER LIMITED 4.88 CONTAINER CORPORATION OF INDIA LIMITED 1.23 SBI-ETF NIFTY BANK 4.87 AXIS BANK LIMITED 1.23 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.44 HCL TECHNOLOGIES LIMITED 1.19 BHARTI AIRTEL LIMITED 4.09 ASIAN PAINTS LIMITED 1.19 ICICI BANK LIMITED 3.77 GAIL (INDIA) LIMITED 1.10 TATA CONSULTANCY SERVICES LIMITED 3.71 HINDALCO INDUSTRIES LIMITED 1.09 LARSEN & TOUBRO LIMITED 3.12 TATA STEEL LIMITED 0.88 KOTAK MAHINDRA BANK LIMITED 2.96 HDFC LIFE INSURANCE COMPANY LIMITED 0.87 ITC LIMITED 2.60 BAJAJ AUTO LIMITED 0.80 BHARAT PETROLEUM CORPORATION LIMITED 2.19 SBI LIFE INSURANCE COMPANY LIMITED 0.76 NESTLE INDIA LIMITED 2.19 TECH MAHINDRA LIMITED 0.75 SUN PHARMACEUTICAL INDUSTRIES LIMITED 2.18 TITAN COMPANY LIMITED 0.71 ULTRATECH CEMENT LIMITED 1.90 WIPRO LIMITED 0.63 BRITANNIA INDUSTRIES LIMITED 1.88 COAL INDIA LIMITED 0.62 MAHINDRA & MAHINDRA LIMITED 1.71 STATE BANK OF INDIA 0.57 NTPC LIMITED 1.68 POWER GRID CORPORATION OF INDIA LIMITED 1.67

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 24.49 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.71 INFRASTRUCTURE 21.44 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.26 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.33 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.80 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 6.06 OTHER MANUFACTURING 0.71 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 4.74 MINING OF COAL AND LIGNITE 0.62 MANUFACTURE OF FOOD PRODUCTS 4.07 CIVIL ENGINEERING 3.12 MANUFACTURE OF TOBACCO PRODUCTS 2.60 MANUFACTURE OF BASIC METALS 1.97 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.90

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 2.08% 2.84%

EQUITIES 80% – 100% 99.11% Return 6 Month 1.77% 1.66%

Returns 1 Year 1.44% 3.30% FIXED INCOME SECURITIES 0% - Returns 2 Year -2.24% -1.26%

Returns 3 Year 3.22% 4.70% MONEY MARKET 0 % – 20% 0.89% INSTRUMENT Inception 5.24% 5.65%

Indepth | Aug 2020 | 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 : 12.0173 AUM : 106.40 Cr Benchmark : NIFTY MIDCAP 100 INDUSTRY % of AUM

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

IPCA LABORATORIES LIMITED 4.04 KOTAK MAHINDRA BANK LIMITED 1.05 COROMANDEL INTERNATIONAL LIMITED 3.89 INFOSYS LIMITED 1.05 LARSEN & TOUBRO INFOTECH LIMITED 3.84 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.03 SRF LIMITED 3.81 JINDAL STEEL & POWER LIMITED 0.96 LIMITED 3.64 UPL LIMITED 0.95 APOLLO HOSPITALS ENTERPRISE LIMITED 3.32 HDFC BANK LIMITED 0.94 3.07 STATE BANK OF INDIA 0.92 MAX FINANCIAL SERVICES LIMITED 2.59 MAHINDRA & MAHINDRA LIMITED 0.91 LIMITED 2.39 KANSAI NEROLAC PAINTS LIMITED 0.90 LIMITED 2.32 MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED 0.86 THE LIMITED 2.08 GODREJ PROPERTIES LIMITED 0.86 PFIZER LIMITED 2.07 AMARA RAJA BATTERIES LIMITED 0.83 LIMITED 2.04 RALLIS INDIA LIMITED 0.83 ENDURANCE TECHNOLOGIES LIMITED 1.94 HCL TECHNOLOGIES LIMITED 0.78 LIMITED 1.90 MANAPPURAM FINANCE LIMITED 0.78 LIMITED 1.85 BRITANNIA INDUSTRIES LIMITED 0.77 DR REDDYS LABORATORIES LIMITED 1.76 TUBE INVESTMENTS OF INDIA LIMITED 0.73 JUBILANT FOODWORKS LIMITED 1.76 BATA INDIA LIMITED 0.73 GUJARAT STATE PETRONET LIMITED 1.67 COMPANY LIMITED 0.66 SYNGENE INTERNATIONAL LIMITED 1.64 ADITYA BIRLA FASHION AND RETAIL LIMITED 0.66 QUESS CORP LIMITED 1.58 LIMITED 0.66 LIMITED 1.55 LIMITED 0.65 LIMITED 1.43 AARTI INDUSTRIES LIMITED 0.65 ASHOK LEYLAND LIMITED 1.37 LIMITED 0.62 THE LIMITED 1.35 SYMPHONY LIMITED 0.61 TORRENT PHARMACEUTICALS LIMITED 1.30 SBI LIFE INSURANCE COMPANY LIMITED 0.61 LIMITED 1.28 INDIAMART INTERMESH LIMITED 0.55 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED 1.27 INDUSIND BANK LIMITED 0.47 BHARTI AIRTEL LIMITED 1.18 RBL BANK LIMITED 0.44 PI INDUSTRIES LIMITED 1.15 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA LIMITED 0.41 MINDA INDUSTRIES LIMITED 1.15 ADITYA BIRLA FASHION AND RETAIL LIMITED (RIGHT APPLICATION) 0.04 LIMITED 1.13 MINDA INDUSTRIES LIMITED (RIGHT APPLICATION) 0.03 MRF LIMITED 1.09 ADITYA BIRLA FASHION AND RETAIL LIMITED LIMITED 1.06 (UNCALLED APPLICATION MONEY) 0.03

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 15.47 SCIENTIFIC RESEARCH AND DEVELOPMENT 1.85 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 11.37 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.64 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 10.71 RETAIL TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES 1.44 INFRASTRUCTURE 7.89 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.36 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 7.45 MANUFACTURE OF BASIC METALS 1.35 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 6.78 CONSTRUCTION OF BUILDINGS 0.96 MANUFACTURE OF FOOD PRODUCTS 6.17 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.86 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 5.19 MANUFACTURE OF LEATHER AND RELATED PRODUCTS 0.73 MANUFACTURE OF RUBBER AND PLASTICS PRODUCTS 4.46 REAL ESTATE ACTIVITIES 0.73 MANUFACTURE OF BEVERAGES 3.13 RETAIL TRADE EXCEPT OF MOTOR VEHICLES AND MOTORCYCLE 0.66 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & EQUIPMENTS 2.32

Indepth | Aug 2020 | 12 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 5.09% 7.83%

EQUITIES 80% – 100% 92.52% Return 6 Month -0.85% -0.62%

Returns 1 Year 9.89% 6.58% FIXED INCOME 0% - SECURITIES Returns 2 Year -2.23% -8.46%

MONEY MARKET 0% TO 20% 7.48% Returns 3 Year 1.99% -2.99% INSTRUMENT Inception 5.37% 0.53%

Indepth | Aug 2020 | 13 DEBT FUND SFIN: ULIF00405/07/08DB0138 Inception Date 20 - 8 - 2008

Fund Manager : Ankur Khandelwal 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 : 29.3963 AUM : 140.01 Cr Portfolio Duration : 5.89 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 45.39 0 - 5 YEARS 31.35 SOVEREIGN 45.39 AAA 45.39 5 - 10 YEARS 43.04 FINANCIAL AND INSURANCEA CTIVITIES 21.60 CASH & CASH EQUIVALENTS 9.22 MORE THAN 10 YEARS 25.60 INFRASTRUCTURE 16.51 Total 100.00 Total 100.00 HOUSING SECTOR 7.28 OTHERS 9.22 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.45% GSEC MD 07/10/2029 13.77 7.90% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 9.37% FINANCIAL SERVICES LTD. MD 31/03/2025 7.73 MD.24/08/2026 2.29 5.79% GSEC MD 11/05/2030 6.68 7.72% GSEC MD 15/06/2049 1.85 6.19% GSEC MD 16/09/2034 6.62 7.62% GSEC MD 15/09/2039 1.50 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 6.47 7.20% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 7.57% GSEC MD 17/06/2033. 5.87 01/09/2020 1.43 5.77% GSEC MD 03/08/2030 5.82 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 04/05/2030 1.32 10.21% NCD BAJAJ FINANCE LTD. MD 22/08/2022 3.94 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 0.90 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.86 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 0.39 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.84 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 0.38 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD MD 7.72% GSEC MD 26/102055 0.32 17/06/2030 3.55 9.45% NCD POWER FINANCE CORPORATION LTD. MD 01/09/2026 0.25 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.47 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.08 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.46 9.23% GSEC MD 23/12/2043 0.03 7.16% GSEC MD 20/09/2050 2.55 7.63% GSEC MD 17/06/2059 0.00 07.85% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 01/07/2034. 2.40 9.23% GSEC MD 23/12/2043 0.03 7.63% GSEC MD 17/06/2059 0.002

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark Return 1 Month -1.54% -0.77%

EQUITIES 0% - Return 6 Month 4.81% 5.51%

Returns 1 Year 9.60% 10.90% FIXED INCOME 60% - 100% 90.78% SECURITIES Returns 2 Year 11.70% 12.05%

Returns 3 Year 7.70% 8.21% MONEY MARKET 0% – 40% 9.22% INSTRUMENT Inception 9.36% 8.54%

Indepth | Aug 2020 | 14 PENSION DEBT FUND SFIN: ULIF00805/01/09PDEBT0138 Inception Date 20 - 1 - 2009

Fund Manager : Ankur Khandelwal 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 : 23.5487 AUM : 6.60 Cr Portfolio Duration : 5.86 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 44.56 0 - 5 YEARS 34.87 SOVEREIGN 44.56 AAA 45.40 5 - 10 YEARS 34.86 FINANCIAL AND INSURANCE ACTIVITIES 22.56 CASH & CASH EQUIVALENTS 10.04 MORE THAN 10 YEARS 30.27 INFRASTRUCTURE 19.70 Total 100.00 Total 100.00 HOUSING 3.14 OTHERS 10.04 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.45% GSEC MD 07/10/2029 10.75 7.85% NCD POWER FINANCE CORPORATION LTD. MD 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 8.68 03/04/2028 3.27 6.19% GSEC MD 16/09/2034 7.38 7.25% NCD HOUSING DEVELOPMENT FINANCE 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 6.98 CORPORATION LTD MD 17/06/2030 3.14 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 6.90 7.72% GSEC MD 15/06/2049 3.04 5.79% GSEC MD 11/05/2030 6.67 7.16% GSEC MD 20/09/2050 2.39 7.57% GSEC MD 17/06/2033. 6.60 9.30% NCD POWER GRID CORPORATION MD 28/06/2027 2.17 5.77% GSEC MD 03/08/2030 4.43 7.62% GSEC MD 15/09/2039 1.67 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 4.17 7.40% GSEC MD 09/09/2035 1.63 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.41 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.39 07.85% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 01/07/2034. 3.28

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -1.60% -0.77%

EQUITIES 0% - Return 6 Month 4.83% 5.51%

Returns 1 Year 9.59% 10.90% FIXED INCOME SECURITIES Returns 2 Year 11.56% 12.05%

100% 100% Returns 3 Year 7.38% 8.21% MONEY MARKET INSTRUMENT Inception 7.64% 8.06%

Indepth | Aug 2020 | 15 SECURE FUND SFIN: ULIF00505/07/08SF0138 Inception Date 5 - 9 - 2008

Fund Manager : Ankur Khandelwal 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 : 21.6952 AUM : 35.79 Cr Portfolio Duration : 1.41 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 63.95 MORE THAN 6 MONTHS 74.85 SOVEREIGN 63.95 AAA 31.48 LESS THAN 6 MONTHS 25.15 FINANCIAL AND INSURANCE ACTIVITIES 14.35 A1+ 0.67 Total 100.00 INFRASTRUCTURE 9.23 CASH & CASH EQUIVALENTS 3.90 HOUSING SECTOR 8.38 Total 100.00 OTHERS 4.08 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.17% GSEC MD 15/07/2021 26.60 7.68% GSEC MD 15/12/2023 1.51 8.54% STATE GOVT OF MAHARASHTRA MD 19/01/2021 14.23 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.67 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 11.52 8% NCD BRITANNIA INDUSTRIES LTD. MD 28/08/2022 0.18 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 9.23 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 8.56 7.20% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 01/09/2020 8.38 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 7.92 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 5.12 364 DAYS TREASURY BILL MD 22/07/2021 2.17

ASSETASSET ALLOCATION ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.09% 0.35%

EQUITIES 0% - Return 6 Month 3.92% 2.44%

Returns 1 Year 7.38% 5.37% FIXED INCOME 60% -100% 95.43% SECURITIES Returns 2 Year 2.75% 6.40%

Returns 3 Year 3.32% 6.64% MONEY MARKET 0% – 40% 4.57% INSTRUMENT Inception 6.67% 7.36%

Indepth | Aug 2020 | 16 PENSION SECURE FUND SFIN: ULIF00905/01/09PSECURE0138 Inception Date 20 - 01 - 2009

Fund Manager : Ankur Khandelwal 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 : 22.1166 AUM : 1.49 Cr Portfolio Duration : 1.53 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 69.58 MORE THAN 6 MONTHS 92.76 SOVEREIGN 69.58 AAA 21.97 LESS THAN 6 MONTHS 7.24 FINANCIAL AND INSURANCE ACTIVITIES 14.75 CASH & CASH EQUIVALENTS 8.45 Total 100.00 HOUSING SECTOR 7.21 Total 100.00 OTHERS 8.45 TOTAL 100.00

DEBT HOLDINDS % of AUM

6.17% GSEC MD 15/07/2021 44.58 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 14.21 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 10.80 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 7.66 7.99% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 11/07/2024 7.21 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 7.10

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month -0.19% 0.35%

EQUITIES 0% - Return 6 Month 3.47% 2.44%

Returns 1 Year 6.33% 5.37% FIXED INCOME SECURITIES Returns 2 Year 6.05% 6.40%

100% 100% Returns 3 Year 5.70% 6.64% MONEY MARKET INSTRUMENT Inception 6.99% 7.26%

Indepth | Aug 2020 | 17 CONSERVATIVE FUND SFIN: ULIF00310/07/08CONSERVATE0138 Inception Date 31 - 7 - 2009

Fund Manager : Jyoti Prakash Fund Manager : Ankur Khandelwal 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 : 25.0583 AUM : 0.36 Cr Portfolio Duration : 4.80 Benchmark : CRISIL COMPOSITE BOND FUND (80%) + Large-cap Equity Index(20%)

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 74.38 0 - 5 YEARS 14.61 SOVEREIGN 74.38 CASH & CASH EQUIVALENTS 25.62 5 - 10 YEARS 58.12 OTHERS 25.62 Total 100.00 MORE THAN 10 YEARS 27.27 Total 100.00 Total 100.00

EQUITY HOLDINDS % of AUM EQUITY HOLDINDS % of AUM

RELIANCE INDUSTRIES LIMITED 2.74 BAJAJ AUTO LIMITED 0.16 HDFC BANK LIMITED 2.02 WIPRO LIMITED 0.16 INFOSYS LIMITED 1.43 POWER GRID CORPORATION OF INDIA LIMITED 0.15 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.31 TITAN COMPANY LIMITED 0.15 ICICI BANK LIMITED 1.07 CIPLA LIMITED 0.14 TATA CONSULTANCY SERVICES LIMITED 0.87 BHARAT PETROLEUM CORPORATION LIMITED 0.12 KOTAK MAHINDRA BANK LIMITED 0.85 NTPC LIMITED 0.12 HINDUSTAN UNILEVER LIMITED 0.81 INDUSIND BANK LIMITED 0.12 ITC LIMITED 0.59 TATA STEEL LIMITED 0.11 BHARTI AIRTEL LIMITED 0.44 ULTRATECH CEMENT LIMITED 0.11 AXIS BANK LIMITED 0.42 JSW STEEL LIMITED 0.10 LARSEN & TOUBRO LIMITED 0.41 HINDALCO INDUSTRIES LIMITED 0.10 MARUTI SUZUKI INDIA LIMITED 0.38 TATA MOTORS LIMITED 0.10 ASIAN PAINTS LIMITED 0.31 UPL LIMITED 0.10 BAJAJ FINANCE LIMITED 0.29 GRASIM INDUSTRIES LIMITED 0.09 STATE BANK OF INDIA 0.28 OIL & NATURAL GAS CORPORATION LIMITED 0.09 HCL TECHNOLOGIES LIMITED 0.27 HDFC LIFE INSURANCE COMPANY LIMITED 0.08 DR REDDYS LABORATORIES LIMITED 0.23 COAL INDIA LIMITED 0.07 MAHINDRA & MAHINDRA LIMITED 0.22 INDIAN OIL CORPORATION LIMITED 0.07 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.21 GAIL (INDIA) LIMITED 0.06 BRITANNIA INDUSTRIES LIMITED 0.20 BHARTI INFRATEL LIMITED 0.05 TECH MAHINDRA LIMITED 0.18 ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.04 BAJAJ FINSERV LIMITED 0.17 YES BANK LIMITED 0.01 HERO MOTOCORP LIMITED 0.16

DEBT HOLDINGS % of AUM

7.17% GSEC MD 08/01/2028 28.96 8.15% GSEC MD 24/11/2026 15.18 7.40% GSEC MD 09/09/2035 14.75 7.72% GSEC MD 15/06/2049 6.16 6.17% GSEC MD 15/07/2021 5.60 5.77% GSEC MD 03/08/2030 2.67 9.23% GSEC MD 23/12/2043 1.06

Indepth | Aug 2020 | 18 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 6.62 INFRASTRUCTURE 3.84 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 2.90 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 1.22 MANUFACTURE OF TOBACCO PRODUCTS 0.59 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 0.59 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.47 CIVIL ENGINEERING 0.41 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.33 MANUFACTURE OF BASIC METALS 0.32 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.22 MANUFACTURE OF FOOD PRODUCTS 0.20 OTHER MANUFACTURING 0.15 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.11 MANUFACTURE OF TEXTILES 0.09 MINING OF COAL AND LIGNITE 0.07 PROGRAMMING AND BROADCASTING ACTIVITIES 0.04 SOVEREIGN 74.38

ASSET ALLOCATION PERFORMANCE

Period Fund Benchmark F&U ACTUAL Return 1 Month -0.78% -0.05% EQUITIES 0% – 20% 18.18 % Return 6 Month 4.14% 4.74%

FIXED INCOME 50% – 100% Returns 1 Year 7.50% 9.38% SECURITIES 74.38 % Returns 2 Year 7.96% 9.39% MONEY MARKET INSTRUMENT 0 % – 40% 7.44% Returns 3 Year 6.87% 7.51%

Inception 8.63% 8.30%

Indepth | Aug 2020 | 19 BALANCED FUND SFIN: ULIF00205/07/08BF0138 Inception Date 20 - 8 - 2008

Fund Manager : Jyoti Prakash Fund Manager : Ankur Khandelwal Investment Objective : This fund will aim to maintain a balance between equity and debt. NAV : 25.7594 AUM : 19.72 Cr Portfolio Duration : 5.62 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE

GOVT BONDS 28.74 AAA 12.16 A1+ 0.73 CASH & CASH EQUIVALENTS 58.37 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 7.42 BRITANNIA INDUSTRIES LIMITED 0.49 HDFC BANK LIMITED 5.42 HDFC LIFE INSURANCE COMPANY LIMITED 0.49 INFOSYS LIMITED 3.83 BAJAJ AUTO LIMITED 0.46 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.55 WIPRO LIMITED 0.45 ICICI BANK LIMITED 2.86 INDUSIND BANK LIMITED 0.45 TATA CONSULTANCY SERVICES LIMITED 2.67 BAJAJ FINSERV LIMITED 0.44 KOTAK MAHINDRA BANK LIMITED 2.30 HERO MOTOCORP LIMITED 0.44 HINDUSTAN UNILEVER LIMITED 2.09 CIPLA LIMITED 0.41 ITC LIMITED 1.84 BHARAT PETROLEUM CORPORATION LIMITED 0.39 AXIS BANK LIMITED 1.38 TATA STEEL LIMITED 0.36 BHARTI AIRTEL LIMITED 1.36 OIL & NATURAL GAS CORPORATION LIMITED 0.35 LARSEN & TOUBRO LIMITED 1.27 EICHER MOTORS LIMITED 0.34 BAJAJ FINANCE LIMITED 1.04 SHREE CEMENT LIMITED 0.34 MARUTI SUZUKI INDIA LIMITED 1.00 COAL INDIA LIMITED 0.33 ASIAN PAINTS LIMITED 0.95 UPL LIMITED 0.31 STATE BANK OF INDIA 0.91 HINDALCO INDUSTRIES LIMITED 0.30 HCL TECHNOLOGIES LIMITED 0.83 JSW STEEL LIMITED 0.30 NESTLE INDIA LIMITED 0.67 GRASIM INDUSTRIES LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.65 TATA MOTORS LIMITED 0.29 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.62 INDIAN OIL CORPORATION LIMITED 0.26 DR REDDYS LABORATORIES LIMITED 0.58 GAIL (INDIA) LIMITED 0.23 TITAN COMPANY LIMITED 0.54 ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.22 ULTRATECH CEMENT LIMITED 0.53 BHARTI INFRATEL LIMITED 0.19 NTPC LIMITED 0.52 YES BANK LIMITED 0.03 POWER GRID CORPORATION OF INDIA LIMITED 0.51 TECH MAHINDRA LIMITED 0.51

DEBT HOLDINDS % of AUM DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 15.98 7.72% GSEC MD 15/06/2049 1.02 07.85% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 01/07/2034. 4.40 7.17% GSEC MD 08/01/2028 0.80 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 4.19 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.73 7.16% GSEC MD 20/09/2050 3.73 8.03% FOOD CORPORATION OF INDIA SPCIAL BOND MD 15/12/2024 0.66 5.77% GSEC MD 03/08/2030 2.97 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.55 7.57% GSEC MD 17/06/2033. 2.60 6.45% GSEC MD 07/10/2029 0.51 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 1.75 8.15% GSEC MD 24/11/2026 0.28 9.41% NCD INDIA INFRASTRUCTURE FINANCE COMPANY LTD. MD 27/07/2037 1.27 8.83% GSEC MD 12/12/2041 0.19

Indepth | Aug 2020 | 20 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 21.35 INFRASTRUCTURE 21.63 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.28 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.35 MANUFACTURE OF TOBACCO PRODUCTS 1.84 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.63 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.61 CIVIL ENGINEERING 1.27 MANUFACTURE OF FOOD PRODUCTS 1.16 MANUFACTURE OF BASIC METALS 0.97 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.89 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.87 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.65 OTHER MANUFACTURING 0.54 MINING OF COAL AND LIGNITE 0.33 MANUFACTURE OF TEXTILES 0.30 PROGRAMMING AND BROADCASTING ACTIVITIES 0.22 SOVEREIGN 28.74

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.87% 1.58%

EQUITIES 30% – 70% 54.02% Return 6 Month 2.66% 3.00%

Returns 1 Year 4.66% 5.96% FIXED INCOME SECURITIES Returns 2 Year 3.40% 3.40% 30 % – 70% 45.98% Returns 3 Year 5.43% 5.93% MONEY MARKET INSTRUMENT Inception 8.17% 8.31%

Indepth | Aug 2020 | 21 PENSION BALANCED FUND SFIN: ULIF00705/01/09PBALANCE0138 Inception Date 22 - 1 - 2009

Fund Manager : Jyoti Prakash Fund Manager : Ankur Khandelwal Investment Objective : This fund will aim to maintain a balance between equity and debt. NAV : 28.3937 AUM : 2.91 Cr Portfolio Duration : 5.61 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 25.30 SOVEREIGN 25.30 AAA 11.15 INFRASTRUCTURE 11.15 CASH & CASH EQUIVALENTS 63.56 OTHERS 63.56 Total 100.00 TOTAL 100.00

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 7.37 TECH MAHINDRA LIMITED 0.52 HDFC BANK LIMITED 5.39 BRITANNIA INDUSTRIES LIMITED 0.51 INFOSYS LIMITED 3.80 HDFC LIFE INSURANCE COMPANY LIMITED 0.46 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.53 WIPRO LIMITED 0.46 ICICI BANK LIMITED 2.85 INDUSIND BANK LIMITED 0.46 TATA CONSULTANCY SERVICES LIMITED 2.65 BAJAJ AUTO LIMITED 0.45 KOTAK MAHINDRA BANK LIMITED 2.29 HERO MOTOCORP LIMITED 0.44 HINDUSTAN UNILEVER LIMITED 2.11 BAJAJ FINSERV LIMITED 0.43 ITC LIMITED 1.90 CIPLA LIMITED 0.41 AXIS BANK LIMITED 1.39 BHARAT PETROLEUM CORPORATION LIMITED 0.37 BHARTI AIRTEL LIMITED 1.38 EICHER MOTORS LIMITED 0.36 LARSEN & TOUBRO LIMITED 1.29 TATA STEEL LIMITED 0.34 BAJAJ FINANCE LIMITED 1.03 OIL & NATURAL GAS CORPORATION LIMITED 0.33 MARUTI SUZUKI INDIA LIMITED 1.01 COAL INDIA LIMITED 0.31 ASIAN PAINTS LIMITED 0.95 UPL LIMITED 0.31 STATE BANK OF INDIA 0.91 JSW STEEL LIMITED 0.31 HCL TECHNOLOGIES LIMITED 0.88 HINDALCO INDUSTRIES LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.68 GRASIM INDUSTRIES LIMITED 0.30 NESTLE INDIA LIMITED 0.66 TATA MOTORS LIMITED 0.29 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.66 INDIAN OIL CORPORATION LIMITED 0.28 DR REDDYS LABORATORIES LIMITED 0.60 SHREE CEMENT LIMITED 0.28 TITAN COMPANY LIMITED 0.54 GAIL (INDIA) LIMITED 0.23 NTPC LIMITED 0.53 BHARTI INFRATEL LIMITED 0.22 ULTRATECH CEMENT LIMITED 0.52 ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.21 POWER GRID CORPORATION OF INDIA LIMITED 0.52 YES BANK LIMITED 0.02

DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 8.95 7.40% GSEC MD 09/09/2035 8.70 5.77% GSEC MD 03/08/2030 4.02 07.85% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 01/07/2034. 3.73 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.72 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 3.70 7.17% GSEC MD 08/01/2028 1.82 7.16% GSEC MD 20/09/2050 1.81

Indepth | Aug 2020 | 22 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 18.75 INFRASTRUCTURE 22.38 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.31 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.38 MANUFACTURE OF TOBACCO PRODUCTS 1.90 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.67 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.66 CIVIL ENGINEERING 1.29 MANUFACTURE OF FOOD PRODUCTS 1.17 MANUFACTURE OF BASIC METALS 0.95 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.89 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.80 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.68 OTHER MANUFACTURING 0.54 MINING OF COAL AND LIGNITE 0.31 MANUFACTURE OF TEXTILES 0.30 PROGRAMMING AND BROADCASTING ACTIVITIES 0.21 SOVEREIGN 25.30

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.08% 1.58%

EQUITIES 30%-70% 54.06% Return 6 Month 2.82% 3.00%

Returns 1 Year 4.78% 5.96% FIXED INCOME SECURITIES Returns 2 Year 3.58% 3.40%

30% -70% 45.94% Returns 3 Year 5.79% 5.93% MONEY MARKET INSTRUMENT Inception 9.31% 11.38%

Indepth | Aug 2020 | 23 STABLE FUND SFIN: ULIF01303/09/10STABLE0138 Inception Date 24 - 9 - 2010

Fund Manager : Jyoti Prakash Fund Manager : Ankur Khandelwal 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 : 19.1193 AUM : 20.35 Cr Portfolio Duration : 5.52 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 27.49 SOVEREIGN 27.49 AAA 8.60 FINANCIAL & INSURANCE ACTIVITIES 2.93 A1+ 2.36 INFRASTRUCTURE 8.03 CASH & CASH EQUIVALENTS 61.55 OTHERS 61.55 Total 100.00 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 7.38 HDFC LIFE INSURANCE COMPANY LIMITED 0.49 HDFC BANK LIMITED 5.42 WIPRO LIMITED 0.45 INFOSYS LIMITED 3.77 INDUSIND BANK LIMITED 0.44 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.53 BAJAJ FINSERV LIMITED 0.44 ICICI BANK LIMITED 2.85 HERO MOTOCORP LIMITED 0.44 TATA CONSULTANCY SERVICES LIMITED 2.63 BAJAJ AUTO LIMITED 0.43 KOTAK MAHINDRA BANK LIMITED 2.29 CIPLA LIMITED 0.40 HINDUSTAN UNILEVER LIMITED 2.10 BHARAT PETROLEUM CORPORATION LIMITED 0.39 ITC LIMITED 1.85 OIL & NATURAL GAS CORPORATION LIMITED 0.34 AXIS BANK LIMITED 1.37 TATA STEEL LIMITED 0.34 BHARTI AIRTEL LIMITED 1.37 EICHER MOTORS LIMITED 0.34 LARSEN & TOUBRO LIMITED 1.28 COAL INDIA LIMITED 0.34 BAJAJ FINANCE LIMITED 1.03 HINDALCO INDUSTRIES LIMITED 0.33 MARUTI SUZUKI INDIA LIMITED 1.01 GRASIM INDUSTRIES LIMITED 0.32 ASIAN PAINTS LIMITED 0.95 JSW STEEL LIMITED 0.32 STATE BANK OF INDIA 0.91 UPL LIMITED 0.31 HCL TECHNOLOGIES LIMITED 0.84 SHREE CEMENT LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.65 TATA MOTORS LIMITED 0.29 NESTLE INDIA LIMITED 0.63 INDIAN OIL CORPORATION LIMITED 0.26 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.62 ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.22 DR REDDYS LABORATORIES LIMITED 0.57 GAIL (INDIA) LIMITED 0.21 NTPC LIMITED 0.54 BHARTI INFRATEL LIMITED 0.20 POWER GRID CORPORATION OF INDIA LIMITED 0.51 YES BANK LIMITED 0.02 TITAN COMPANY LIMITED 0.51 TECH MAHINDRA LIMITED 0.51 ULTRATECH CEMENT LIMITED 0.50 BRITANNIA INDUSTRIES LIMITED 0.49

Indepth | Aug 2020 | 24 DEBT HOLDINGS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 9.46 07.85% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 01/07/2034. 4.26 7.57% GSEC MD 17/06/2033. 4.21 7.16% GSEC MD 20/09/2050 3.62 5.77% GSEC MD 03/08/2030 2.87 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 2.71 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 2.63 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 2.36 7.72% GSEC MD 26/102055 1.94 7.72% GSEC MD 15/06/2049 1.77 6.45% GSEC MD 07/10/2029 1.00 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 0.57 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.53 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.53

INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 21.72 INFRASTRUCTURE 19.23 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.21 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.36 MANUFACTURE OF TOBACCO PRODUCTS 1.85 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.63 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.60 CIVIL ENGINEERING 1.28 MANUFACTURE OF FOOD PRODUCTS 1.13 MANUFACTURE OF BASIC METALS 0.99 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.87 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.80 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.65 OTHER MANUFACTURING 0.51 MINING OF COAL AND LIGNITE 0.34 MANUFACTURE OF TEXTILES 0.32 PROGRAMMING AND BROADCASTING ACTIVITIES 0.22 SOVEREIGN 27.49

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.89% 1.58%

EQUITIES 20%-80% 53.73% Return 6 Month 2.37% 3.00%

Returns 1 Year 4.59% 5.96% FIXED INCOME SECURITIES Returns 2 Year 3.42% 3.40% 20%-80% 46.27% Returns 3 Year 5.25% 5.93% MONEY MARKET INSTRUMENT Inception 6.73% 7.57%

Indepth | Aug 2020 | 25 NAVPF FUND SFIN: ULIF01124/08/09NAVPF0138 Inception Date 8 - 9 - 2009

Fund Manager : Ankur Khandelwal 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 : 18.1370 AUM : 47.15 Cr Portfolio Duration : 0.59

RATING PROFILE SECTORAL PROFILE Current NAV 18.1370 GOVT BONDS 57.51 SOVEREIGN 57.51 CASH & CASH EQUIVALENTS 42.49 OTHERS 42.49 Max NAV 20.4590 Total 100.00 Total 100.00 80% of Max NAV 16.3672

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.76 HDFC LIFE INSURANCE COMPANY LIMITED 0.37 HDFC BANK LIMITED 4.22 WIPRO LIMITED 0.36 INFOSYS LIMITED 2.97 HERO MOTOCORP LIMITED 0.34 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 2.77 BAJAJ AUTO LIMITED 0.34 ICICI BANK LIMITED 2.38 INDUSIND BANK LIMITED 0.33 TATA CONSULTANCY SERVICES LIMITED 2.07 BAJAJ FINSERV LIMITED 0.33 KOTAK MAHINDRA BANK LIMITED 1.79 CIPLA LIMITED 0.32 HINDUSTAN UNILEVER LIMITED 1.65 BHARAT PETROLEUM CORPORATION LIMITED 0.29 ITC LIMITED 1.46 TATA STEEL LIMITED 0.27 BHARTI AIRTEL LIMITED 1.08 OIL & NATURAL GAS CORPORATION LIMITED 0.26 AXIS BANK LIMITED 1.08 EICHER MOTORS LIMITED 0.25 LARSEN & TOUBRO LIMITED 1.01 COAL INDIA LIMITED 0.25 BAJAJ FINANCE LIMITED 0.81 UPL LIMITED 0.25 MARUTI SUZUKI INDIA LIMITED 0.80 JSW STEEL LIMITED 0.24 ASIAN PAINTS LIMITED 0.75 HINDALCO INDUSTRIES LIMITED 0.24 STATE BANK OF INDIA 0.71 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.24 HCL TECHNOLOGIES LIMITED 0.66 SHREE CEMENT LIMITED 0.24 MAHINDRA & MAHINDRA LIMITED 0.51 GRASIM INDUSTRIES LIMITED 0.23 NESTLE INDIA LIMITED 0.50 TATA MOTORS LIMITED 0.22 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.49 INDIAN OIL CORPORATION LIMITED 0.19 DR REDDYS LABORATORIES LIMITED 0.45 ZEE ENTERTAINMENT ENTERPRISES LIMITED 0.17 NTPC LIMITED 0.41 GAIL (INDIA) LIMITED 0.16 TITAN COMPANY LIMITED 0.41 BHARTI INFRATEL LIMITED 0.15 TECH MAHINDRA LIMITED 0.40 YES BANK LIMITED 0.01 POWER GRID CORPORATION OF INDIA LIMITED 0.40 ULTRATECH CEMENT LIMITED 0.39 BRITANNIA INDUSTRIES LIMITED 0.38

DEBT HOLDINGS % of AUM

364 DAYS TREASURY BILL MD 18/03/2021 20.65 364 DAYS TREASURY BILL MD 22/07/2021 14.41 364 DAYS TREASURY BILL MD 10/06/2021 10.33 182 DAYS TREASURY BILL MD 24/09/2020 8.99 364 DAYS TREASURY BILL MD 10/12/2020 3.14

Indepth | Aug 2020 | 26 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 14.79 INFRASTRUCTURE 8.94 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 6.46 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 2.64 MANUFACTURE OF TOBACCO PRODUCTS 1.46 Current NAV 18.1370 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.28 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.26 Max NAV 20.4590 CIVIL ENGINEERING 1.01 80% of Max NAV 16.3672 MANUFACTURE OF FOOD PRODUCTS 0.88 MANUFACTURE OF BASIC METALS 0.75 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.68 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.63 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.51 OTHER MANUFACTURING 0.41 MINING OF COAL AND LIGNITE 0.25 MANUFACTURE OF TEXTILES 0.23 PROGRAMMING AND BROADCASTING ACTIVITIES 0.17 SOVEREIGN 57.51

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark

Return 1 Month 1.05% 1.58% EQUITIES 0%-100% 42.36% Return 6 Month -4.34% 3.00%

Returns 1 Year -4.55% 5.96% FIXED INCOME SECURITIES Returns 2 Year -4.59% 3.40% 0%-100% 57.64% Returns 3 Year 1.25% 5.93% MONEY MARKET INSTRUMENT Inception 5.57% 8.25%

*T&C apply. Indepth | Aug 2020 | 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 | Aug 2020 | 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 | Aug 2020 | 30