APRIL 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 | Apr 2021 | 2 Commentary on the Indian Securities Market for March 2021

Nifty (up 1.1%) was largely flat this month post the up move in February. For FY21 nifty gave return of 71%. The active covid cases has seen a spike in the month of March leading to some localised lockdowns. The vaccination program has entered the third phase in the country with everyone above the age of 45 being eligible for vaccination from 1st April.

The dollar index was up for third month in a row. It was up 2.59% and closed at 93.23 level. This is the highest monthly up move in dollar index since November 2016. Despite the rise in Dollar index, the rupee was strong and appreciated by 35 paise to close at 73.11 level.

Brent Crude corrected for the first time after four months of gains. It corrected by almost 4% and ended at 63.54 level. Gold corrected for the third month in a row and ended lower by 1.5% to close at $1707.

Foreign institutional investors (FIIs) investment continued to be positive in March with inflow of a little under $1.5 bn. In FY21 FII’s have invested over $37 bn in . This is the highest FII inflow in a financial year ever.

Domestic institutional investors (DIIs) turned net buyers in the month of March. Equity mutual funds continued to see outflows for the eighth month in a row (outflows being lower at 4534 crs in February)

Consumer price Index (CPI) witnessed an uptick post three months of correction with increase in food and fuel prices. The CPI came at 5.03% in February vs 4.06% in Janu- ary.

The Index of Industrial Production (IIP) contracted marginally by 1.6% in January after growing by 1.6% in December.

GST collections continued to be strong with March collections at 1.23 lakh crs, 27% YoY growth. This is the highest collection ever and the fourth month in a row where the collections have crossed 1.1 lakh crs.

Indepth | Apr 2021 | 3 In April, markets will react to US infrastructure package and progress of covid and vac- cination in India and across the world.

Nifty (up 1.1%) was largely flat this month post the up move in February. For FY21 nifty Bond yields moderated as the country saw an exponential rise in Covid cases through- gave return of 71%. The active covid cases has seen a spike in the month of March out March even as global market variables like crude and US yields climbed. The 10Y leading to some localised lockdowns. The vaccination program has entered the third benchmark yield eased by about 5 basis points to around 6.18%. Long term investors phase in the country with everyone above the age of 45 being eligible for vaccination like pension and provident funds which had held back their investments during the from 1st April. year in search of higher yields resorted to buying in the second half of March, consider- ably helping spread assets. The auction calendar for the first half of the year was The dollar index was up for third month in a row. It was up 2.59% and closed at 93.23 released with about 60% of the annual borrowing being announced for H1. The April level. This is the highest monthly up move in dollar index since November 2016. MPC review is likely to see maintenance of status quo with a dovish bias in the policy Despite the rise in Dollar index, the rupee was strong and appreciated by 35 paise to tone. Going forward, markets will watch out for trends in the trend in the covid case- close at 73.11 level. load, inflation and high frequency growth indicators.

Brent Crude corrected for the first time after four months of gains. It corrected by almost 4% and ended at 63.54 level. Gold corrected for the third month in a row and ended lower by 1.5% to close at $1707.

Foreign institutional investors (FIIs) investment continued to be positive in March with inflow of a little under $1.5 bn. In FY21 FII’s have invested over $37 bn in India. This is the highest FII inflow in a financial year ever.

Domestic institutional investors (DIIs) turned net buyers in the month of March. Equity mutual funds continued to see outflows for the eighth month in a row (outflows being lower at 4534 crs in February)

Consumer price Index (CPI) witnessed an uptick post three months of correction with increase in food and fuel prices. The CPI came at 5.03% in February vs 4.06% in Janu- ary.

The Index of Industrial Production (IIP) contracted marginally by 1.6% in January after growing by 1.6% in December.

GST collections continued to be strong with March collections at 1.23 lakh crs, 27% YoY growth. This is the highest collection ever and the fourth month in a row where the collections have crossed 1.1 lakh crs.

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

Fund Manager : Avinash Agarwal Investment Objective : This fund will aim to invest in a well-diversified portfolio of equity instruments, and generate attractive returns in the long term. NAV : 35.0538 AUM : 100.21 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 9.17 LIMITED 1.57 LIMITED 8.62 LIMITED 1.54 HDFC BANK LIMITED 7.01 SRF LIMITED 1.48 ICICI BANK LIMITED 5.57 LIMITED 1.47 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.68 HCL TECHNOLOGIES LIMITED 1.47 LARSEN & TOUBRO LIMITED 3.31 LIMITED 1.41 SBI-ETF NIFTY BANK 3.30 ITC LIMITED 1.40 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 3.15 BOSCH LIMITED 1.39 DR REDDYS LABORATORIES LIMITED 3.03 DIVIS LABORATORIES LIMITED 1.30 TATA CONSULTANCY SERVICES LIMITED 3.00 ENDURANCE TECHNOLOGIES LIMITED 1.10 LIMITED 2.98 LIMITED 1.09 ULTRATECH CEMENT LIMITED 2.75 LIMITED 1.05 CORPORATION LIMITED 2.18 LIMITED 1.04 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 2.09 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.01 LIMITED 2.05 LIMITED 0.77 NESTLE INDIA LIMITED 1.99 HONEYWELL AUTOMATION INDIA LIMITED 0.76 LIMITED 1.96 JSW STEEL LIMITED 0.71 MAHINDRA & MAHINDRA LIMITED 1.94 HDFC LIFE INSURANCE COMPANY LIMITED 0.61 STATE 1.84 INDUSIND BANK LIMITED 0.54 LIMITED 1.61 LIMITED 0.47 LIMITED 1.58 THE LIMITED 0.47 LIMITED 0.44

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.89 MANUFACTURE OF FOOD PRODUCTS 3.03 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.08 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & INFRASTRUCTURE 12.76 EQUIPMENTS 2.05 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.88 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.94 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.55 MANUFACTURE OF TOBACCO PRODUCTS 1.40 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 4.33 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.04 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.10 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.76 MANUFACTURE OF BASIC METALS 3.75 REAL ESTATE ACTIVITIES 0.47 CIVIL ENGINEERING 3.31

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.22% 1.11% EQUITIES 75% TO 100% 96.89 % Return 6 Month 29.73% 30.61% FIXED INCOME SECURITIES 0 % TO 25% 3.11% Returns 1 Year 67.13% 70.87% MONEY MARKET INSTRUMENT Returns 2 Year 9.81% 12.38%

Returns 3 Year 11.18% 13.23%

Inception 10.38% 9.90%

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

Fund Manager : Lovelesh Manocha Investment Objective : This fund will aim at investing in equities of various sectors, to diversify the portfolio and to generate attractive returns in long term. This fund will also have the flexibility to invest in fixed interest assets and money market instruments up to 20%. NAV : 24.2617 AUM : 184.67 Cr Benchmark : S&P BSE 100

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.81 AXIS BANK LIMITED 0.95 RELIANCE INDUSTRIES LIMITED 7.48 LIMITED 0.91 TATA CONSULTANCY SERVICES LIMITED 5.38 DR REDDYS LABORATORIES LIMITED 0.78 ICICI BANK LIMITED 4.75 JSW STEEL LIMITED 0.66 HINDUSTAN UNILEVER LIMITED 4.74 TATA CONSUMER PRODUCTS LIMITED 0.52 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.62 OBEROI REALTY LIMITED 0.50 HONEYWELL AUTOMATION INDIA LIMITED 4.57 INDIA LIMITED 0.50 HDFC BANK LIMITED 4.29 MAX FINANCIAL SERVICES LIMITED 0.49 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.13 (INDIA) LIMITED 0.48 SBI-ETF NIFTY BANK 3.15 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 0.26 KOTAK MAHINDRA BANK LIMITED 2.17 DIVIS LABORATORIES LIMITED 2.08 1.97 INDUSTRY % of AUM BHARAT FORGE LIMITED 1.95 INDUSIND BANK LIMITED 1.89 BHARTI AIRTEL LIMITED 1.82 FINANCIAL AND INSURANCE ACTIVITIES 22.80 TATA MOTORS LIMITED 1.75 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 14.18 ULTRATECH CEMENT LIMITED 1.67 INFRASTRUCTURE 11.34 ENDURANCE TECHNOLOGIES LIMITED 1.65 AMBUJA CEMENTS LIMITED 1.64 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 7.62 HINDALCO INDUSTRIES LIMITED 1.52 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 5.81 BOSCH LIMITED 1.45 CIPLA LIMITED 1.42 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 4.57 SRF LIMITED 1.29 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 4.29 SUNDRAM FASTENERS LIMITED 1.24 TATA STEEL LIMITED 1.23 MANUFACTURE OF BASIC METALS 3.41 HDFC LIFE INSURANCE COMPANY LIMITED 1.17 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 3.31 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 1.13 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & LIMITED 1.12 EQUIPMENTS 3.20 NESTLE INDIA LIMITED 1.10 MANUFACTURE OF FOOD PRODUCTS 1.61 LIMITED 1.09 CONTAINER CORPORATION OF INDIA LIMITED 1.07 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.27 ITC LIMITED 1.03 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.12 ABB INDIA LIMITED 1.01 LIMITED 1.00 MANUFACTURE OF TOBACCO PRODUCTS 1.03 SBI CARDS AND PAYMENT SERVICES PRIVATE LIMITED 0.99 MANUFACTURE OF BEVERAGES 1.00 BHARAT PETROLEUM CORPORATION LIMITED 0.97 LIMITED 0.96 OTHER MANUFACTURING 0.91 REAL ESTATE ACTIVITIES 0.50 INFORMATION SERVICE ACTIVITIES 0.48

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.37% 0.95%

EQUITIES 80% – 100% 97.35% Return 6 Month 22.87% 30.48%

Returns 1 Year 56.96% 71.46% FIXED INCOME SECURITIES Returns 2 Year 13.35% 12.15%

0% TO 20% 2.65% Returns 3 Year 12.89% 12.25% MONEY MARKET INSTRUMENT Inception 8.80% 8.98%

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

Fund Manager : Avinash Agarwal Investment Objective : This fund will aim to invest in a well-diversified portfolio of equity instruments, and generate attractive returns in the long term. NAV : 56.0695 AUM : 14.75 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.83 TATA MOTORS LIMITED 1.56 RELIANCE INDUSTRIES LIMITED 8.29 CIPLA LIMITED 1.55 HDFC BANK LIMITED 6.96 SRF LIMITED 1.47 ICICI BANK LIMITED 5.71 BOSCH LIMITED 1.43 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.69 AXIS BANK LIMITED 1.39 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.31 ITC LIMITED 1.39 HINDUSTAN UNILEVER LIMITED 3.40 TATA STEEL LIMITED 1.36 LARSEN & TOUBRO LIMITED 3.18 DIVIS LABORATORIES LIMITED 1.28 DR REDDYS LABORATORIES LIMITED 2.92 ENDURANCE TECHNOLOGIES LIMITED 1.11 TATA CONSULTANCY SERVICES LIMITED 2.86 DEEPAK NITRITE LIMITED 1.08 ULTRATECH CEMENT LIMITED 2.75 TATA CONSUMER PRODUCTS LIMITED 1.04 BHARAT PETROLEUM CORPORATION LIMITED 2.10 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.02 BHARTI AIRTEL LIMITED 2.04 BAJAJ AUTO LIMITED 0.99 BHARAT FORGE LIMITED 2.04 KOTAK MAHINDRA BANK LIMITED 0.71 SBI-ETF NIFTY BANK 2.03 HONEYWELL AUTOMATION INDIA LIMITED 0.71 MAHINDRA & MAHINDRA LIMITED 1.98 JSW STEEL LIMITED 0.69 NESTLE INDIA LIMITED 1.91 HDFC LIFE INSURANCE COMPANY LIMITED 0.56 STATE BANK OF INDIA 1.85 INDUSIND BANK LIMITED 0.55 HCL TECHNOLOGIES LIMITED 1.85 OBEROI REALTY LIMITED 0.46 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 1.77 WIPRO LIMITED 0.45 AMBUJA CEMENTS LIMITED 1.60 THE FEDERAL BANK LIMITED 0.43 HINDALCO INDUSTRIES LIMITED 1.56

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.85 MANUFACTURE OF FOOD PRODUCTS 2.95 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.98 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & INFRASTRUCTURE 12.43 EQUIPMENTS 2.04 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.77 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.98 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.94 MANUFACTURE OF TOBACCO PRODUCTS 1.39 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 4.34 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.99 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.10 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.71 MANUFACTURE OF BASIC METALS 3.61 REAL ESTATE ACTIVITIES 0.46 CIVIL ENGINEERING 3.18

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.21% 1.11% EQUITIES 75% - 100% 95.83% Return 6 Month 29.63% 30.61%

FIXED INCOME Returns 1 Year 67.10% 70.87% SECURITIES 0% TO 25% 4.17% Returns 2 Year 9.89% 12.38% MONEY MARKET INSTRUMENT Returns 3 Year 11.26% 13.23%

Inception 15.17% 14.39%

Indepth | Apr 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 : 53.1028 AUM : 8.75 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

HDFC BANK LIMITED 10.06 LIMITED 0.89 RELIANCE INDUSTRIES LIMITED 10.03 HDFC LIFE INSURANCE COMPANY LIMITED 0.87 INFOSYS LIMITED 7.85 DR REDDYS LABORATORIES LIMITED 0.87 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 6.95 INDUSIND BANK LIMITED 0.86 ICICI BANK LIMITED 6.22 TATA MOTORS LIMITED 0.86 TATA CONSULTANCY SERVICES LIMITED 5.18 NTPC LIMITED 0.84 KOTAK MAHINDRA BANK LIMITED 3.98 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.84 HINDUSTAN UNILEVER LIMITED 3.37 BAJAJ AUTO LIMITED 0.76 ITC LIMITED 2.96 HINDALCO INDUSTRIES LIMITED 0.74 AXIS BANK LIMITED 2.69 DIVIS LABORATORIES LIMITED 0.72 LARSEN & TOUBRO LIMITED 2.66 JSW STEEL LIMITED 0.70 STATE BANK OF INDIA 2.17 LIMITED 0.66 LIMITED 2.12 CIPLA LIMITED 0.66 BHARTI AIRTEL LIMITED 1.97 LIMITED 0.64 LIMITED 1.82 HERO MOTOCORP LIMITED 0.60 HCL TECHNOLOGIES LIMITED 1.69 OIL & NATURAL GAS CORPORATION LIMITED 0.59 INDIA LIMITED 1.44 UPL LIMITED 0.59 ULTRATECH CEMENT LIMITED 1.23 BHARAT PETROLEUM CORPORATION LIMITED 0.57 MAHINDRA & MAHINDRA LIMITED 1.21 LIMITED 0.56 TITAN COMPANY LIMITED 1.03 SBI LIFE INSURANCE COMPANY LIMITED 0.56 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.02 LIMITED 0.46 NESTLE INDIA LIMITED 0.98 TATA CONSUMER PRODUCTS LIMITED 0.41 WIPRO LIMITED 0.98 LIMITED 0.34 LIMITED 0.97 LIMITED 0.05 TATA STEEL LIMITED 0.97 LIMITED 0.93 POWER GRID CORPORATION OF INDIA LIMITED 0.90

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 37.46 MANUFACTURE OF FOOD PRODUCTS 2.06 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 16.67 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.87 INFRASTRUCTURE 16.09 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.36 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.78 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.21 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 3.26 OTHER MANUFACTURING 1.03 MANUFACTURE OF TOBACCO PRODUCTS 2.96 MANUFACTURE OF TEXTILES 0.89 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.86 MINING OF COAL AND LIGNITE 0.46 CIVIL ENGINEERING 2.66 MANUFACTURE OF BASIC METALS 2.42

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.02% 1.11% EQUITIES 98% - 100% 99.04% Return 6 Month 29.95% 30.61%

FIXED INCOME Returns 1 Year 69.27% 70.87% SECURITIES 0% TO 2% 0.96% Returns 2 Year 11.98% 12.38% MONEY MARKET INSTRUMENT Returns 3 Year 12.88% 13.23%

Inception 14.66% 14.85%

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

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 28.7821 AUM : 14.78 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 9.08 CIPLA LIMITED 1.54 RELIANCE INDUSTRIES LIMITED 8.39 AXIS BANK LIMITED 1.50 HDFC BANK LIMITED 6.81 TATA STEEL LIMITED 1.49 ICICI BANK LIMITED 5.37 SRF LIMITED 1.46 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.61 HCL TECHNOLOGIES LIMITED 1.46 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 4.20 BOSCH LIMITED 1.43 LARSEN & TOUBRO LIMITED 3.36 ITC LIMITED 1.41 DR REDDYS LABORATORIES LIMITED 3.06 DIVIS LABORATORIES LIMITED 1.26 HINDUSTAN UNILEVER LIMITED 2.90 ENDURANCE TECHNOLOGIES LIMITED 1.10 TATA CONSULTANCY SERVICES LIMITED 2.80 DEEPAK NITRITE LIMITED 1.08 ULTRATECH CEMENT LIMITED 2.75 TATA CONSUMER PRODUCTS LIMITED 1.04 BHARAT PETROLEUM CORPORATION LIMITED 2.14 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.02 SBI-ETF NIFTY BANK 2.06 BAJAJ AUTO LIMITED 1.02 BHARAT FORGE LIMITED 2.04 JSW STEEL LIMITED 0.72 NESTLE INDIA LIMITED 1.97 KOTAK MAHINDRA BANK LIMITED 0.71 MAHINDRA & MAHINDRA LIMITED 1.96 HONEYWELL AUTOMATION INDIA LIMITED 0.71 BHARTI AIRTEL LIMITED 1.94 HDFC LIFE INSURANCE COMPANY LIMITED 0.59 STATE BANK OF INDIA 1.86 INDUSIND BANK LIMITED 0.55 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 1.77 THE FEDERAL BANK LIMITED 0.47 TATA MOTORS LIMITED 1.63 OBEROI REALTY LIMITED 0.46 AMBUJA CEMENTS LIMITED 1.59 WIPRO LIMITED 0.45 HINDALCO INDUSTRIES LIMITED 1.58

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.47 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.79 EQUIPMENTS 2.04 INFRASTRUCTURE 12.47 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.96 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.88 MANUFACTURE OF TOBACCO PRODUCTS 1.41 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.44 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.02 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 4.34 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.71 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 4.17 REAL ESTATE ACTIVITIES 0.46 MANUFACTURE OF BASIC METALS 3.80 CIVIL ENGINEERING 3.36 MANUFACTURE OF FOOD PRODUCTS 3.01

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.26% 1.11%

EQUITIES 80% TO 100% 95.35% Return 6 Month 30.01% 30.61%

Returns 1 Year 68.47% 70.87% FIXED INCOME SECURITIES Returns 2 Year 10.27% 12.38%

0 % – 20% 4.65% Returns 3 Year 11.91% 13.23% MONEY MARKET INSTRUMENT Inception 11.13% 9.93%

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

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 16.9230 AUM : 157.46 Cr Benchmark : NIFTY 50

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

INFOSYS LIMITED 8.70 TATA MOTORS LIMITED 1.45 RELIANCE INDUSTRIES LIMITED 8.20 TATA STEEL LIMITED 1.39 HDFC BANK LIMITED 6.80 BOSCH LIMITED 1.38 ICICI BANK LIMITED 5.63 AXIS BANK LIMITED 1.36 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.62 ITC LIMITED 1.29 SBI-ETF NIFTY BANK 3.33 DIVIS LABORATORIES LIMITED 1.28 HINDUSTAN UNILEVER LIMITED 3.26 DEEPAK NITRITE LIMITED 1.09 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 3.26 ENDURANCE TECHNOLOGIES LIMITED 1.07 LARSEN & TOUBRO LIMITED 3.15 TATA CONSUMER PRODUCTS LIMITED 1.04 TATA CONSULTANCY SERVICES LIMITED 2.93 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.99 DR REDDYS LABORATORIES LIMITED 2.87 BAJAJ AUTO LIMITED 0.98 ULTRATECH CEMENT LIMITED 2.79 KOTAK MAHINDRA BANK LIMITED 0.80 BHARAT PETROLEUM CORPORATION LIMITED 2.04 HONEYWELL AUTOMATION INDIA LIMITED 0.78 BHARAT FORGE LIMITED 2.01 JSW STEEL LIMITED 0.68 BHARTI AIRTEL LIMITED 2.01 HDFC LIFE INSURANCE COMPANY LIMITED 0.55 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 1.99 INDUSIND BANK LIMITED 0.52 MAHINDRA & MAHINDRA LIMITED 1.95 WIPRO LIMITED 0.48 NESTLE INDIA LIMITED 1.89 OBEROI REALTY LIMITED 0.48 STATE BANK OF INDIA 1.85 THE FEDERAL BANK LIMITED 0.45 HCL TECHNOLOGIES LIMITED 1.71 INDIAN OIL CORPORATION LIMITED 0.003 AMBUJA CEMENTS LIMITED 1.62 BRITANNIA INDUSTRIES LIMITED 0.003 CIPLA LIMITED 1.56 EICHER MOTORS LIMITED 0.003 HINDALCO INDUSTRIES LIMITED 1.53 BAJAJ FINANCE LIMITED 0.003 SRF LIMITED 1.52

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.59 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.82 EQUIPMENTS 2.01 INFRASTRUCTURE 12.25 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.95 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.69 MANUFACTURE OF TOBACCO PRODUCTS 1.29 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.88 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.98 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 4.41 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.78 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.91 REAL ESTATE ACTIVITIES 0.48 MANUFACTURE OF BASIC METALS 3.60 CIVIL ENGINEERING 3.15 MANUFACTURE OF FOOD PRODUCTS 2.93

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.21% 1.11%

EQUITIES 80% – 100% 95.31 % Return 6 Month 29.54% 30.61%

Returns 1 Year 66.74% 70.87% FIXED INCOME SECURITIES 0% - Returns 2 Year 9.58% 12.38%

Returns 3 Year 11.02% 13.23% MONEY MARKET 0 % – 20% 4.69 % INSTRUMENT Inception 8.74% 9.47%

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

Fund Manager : Avinash Agarwal Investment Objective : This Fund will aim at investing in equities of various sectors to diversify the portfolio and to generate attractive returns in the long term. The Fund will also have the flexibility to invest in Fixed Interest Assets and Money Market instruments up to 20%. NAV : 16.5227 AUM : 146.81 Cr Benchmark : NIFTY MIDCAP 100 INDUSTRY % of AUM

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

SRF LIMITED 4.00 TVS MOTOR COMPANY LIMITED 1.12 MAX FINANCIAL SERVICES LIMITED 3.98 LIMITED 1.07 BHARAT FORGE LIMITED 3.89 SHRIRAM TRANSPORT FINANCE COMPANY LIMITED 1.07 DEEPAK NITRITE LIMITED 3.18 PI INDUSTRIES LIMITED 1.03 LIMITED 3.08 GODREJ PROPERTIES LIMITED 1.02 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED 2.82 TATA CONSUMER PRODUCTS LIMITED 0.99 THE FEDERAL BANK LIMITED 2.81 KNR CONSTRUCTIONS LIMITED 0.99 OBEROI REALTY LIMITED 2.75 INFOSYS LIMITED 0.99 THE LIMITED 2.42 TUBE INVESTMENTS OF INDIA LIMITED 0.98 LIMITED 2.39 ASHOK LEYLAND LIMITED 0.98 GUJARAT STATE PETRONET LIMITED 2.38 VARUN BEVERAGES LIMITED 0.97 LIMITED 2.32 0.95 ENDURANCE TECHNOLOGIES LIMITED 2.22 LIMITED 0.93 LIMITED 2.19 LIMITED 0.93 L&T TECHNOLOGY SERVICES LIMITED 2.19 JOHNSON CONTROLS - HITACHI AIR CONDITIONING INDIA LIMITED 0.91 LIMITED 2.15 LIMITED 0.86 LIMITED 2.13 LIMITED 0.81 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 2.07 LIMITED 0.76 LIMITED 2.04 AARTI INDUSTRIES LIMITED 0.72 1.93 WHIRLPOOL OF INDIA LIMITED 0.67 JINDAL STEEL & POWER LIMITED 1.86 RALLIS INDIA LIMITED 0.52 INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED 1.84 CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED 0.51 SUNDRAM FASTENERS LIMITED 1.76 ADITYA BIRLA CAPITAL LIMITED 0.49 NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED 1.70 HONEYWELL AUTOMATION INDIA LIMITED 0.49 GRAPHITE INDIA LIMITED 1.53 LIMITED 0.45 LIC HOUSING FINANCE LIMITED 1.53 RBL BANK LIMITED 0.40 SYNGENE INTERNATIONAL LIMITED 1.36 LIMITED 1.29 SUDARSHAN CHEMICAL INDUSTRIES LIMITED 1.27 LIMITED 1.27 CROPSCIENCE LIMITED 1.22 BATA INDIA LIMITED 1.21 POLYCAB INDIA LIMITED 1.18 MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED 1.13

INDUSTRY % of AUM INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 20.01 FOOD & BEVERAGE SERVICE ACTIVITIES 1.84 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 12.38 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS1.42 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 10.60 SCIENTIFIC RESEARCH AND DEVELOPMENT 1.36 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 6.31 MANUFACTURE OF LEATHER AND RELATED PRODUCTS 1.21 INFRASTRUCTURE 5.93 CONSTRUCTION OF BUILDINGS 1.02 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & MANUFACTURE OF FOOD PRODUCTS 0.99 EQUIPMENTS 5.65 MANUFACTURE OF BEVERAGES 0.97 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 5.16 MANUFACTURE OF RUBBER AND PLASTICS PRODUCTS 0.76 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 3.95 FINANCIAL INTERMEDIATION, EXCEPT INSURANCE AND PENSION MANUFACTURE OF ELECTRICAL EQUIPMENTS 3.92 FUNDING 0.49 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.20 REAL ESTATE ACTIVITIES 2.75 MANUFACTURE OF BASIC METALS 2.67 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 2.09

Indepth | Apr 2021 | 12 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.52% 1.82%

EQUITIES 80% – 100% 94.67% Return 6 Month 31.33% 39.51%

Returns 1 Year 82.08% 102.44% FIXED INCOME 0% - SECURITIES Returns 2 Year 17.28% 13.87%

MONEY MARKET 0% TO 20% 5.33% Returns 3 Year 13.13% 8.08% INSTRUMENT Inception 13.05% 9.44%

Indepth | Apr 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 : 30.2316 AUM : 141.28Cr Portfolio Duration : 5.63 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 37.82 0 - 5 YEARS 25.00 SOVEREIGN 37.82 AAA 57.23 5 - 10 YEARS 55.63 FINANCIAL AND INSURANCEA CTIVITIES 21.04 CASH & CASH EQUIVALENTS 4.95 THAN 10 YEARS 19.37 INFRASTRUCTURE 23.15 Total 100.00 Total 100.00 HOUSING SECTOR 13.03 OTHERS 4.95 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.45% GSEC MD 07/10/2029 9.10 6.97% KARNATAKA SDL MD 30/09/2031 3.44 8.65% RELIANCE INDUSTRIES LTD 11/12/2028 7.63 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.43 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 7.47 7.90% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 7.28 MD.24/08/2026 2.26 6.22% GSEC MD 16/03/2035 6.26 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.57 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 6.21 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 04/05/2030 1.21 7.17% GSEC MD 08/01/2028 6.18 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 0.81 5.77% GSEC MD 03/08/2030 5.46 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 0.57 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.83 7.72% GSEC MD 26/102055 0.32 10.21% NCD BAJAJ FINANCE LTD. MD 22/08/2022 3.79 9.45% NCD POWER FINANCE CORPORATION LTD. MD 01/09/2026 0.24 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.79 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.08 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.57 9.23% GSEC MD 23/12/2043 0.032 7.29% STATE GOVT OF KARNATAKA MD10/03/2039 3.55 6.67% GSEC MD 17/12/2050 0.01 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD MD 7.63% GSEC MD 17/06/2059 0.002 17/06/2030 3.49 7.08% STATE GOVT OF GUJARAT MD 10/03/2031 3.47

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark Return 1 Month 1.64% 1.41%

EQUITIES 0% - Return 6 Month 2.28% 2.36%

Returns 1 Year 7.01% 7.69% FIXED INCOME 60% - 100% 95.05% SECURITIES Returns 2 Year 9.62% 10.11%

Returns 3 Year 8.67% 8.97% MONEY MARKET 0% – 40% 4.95% INSTRUMENT Inception 9.16% 8.37%

Indepth | Apr 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 : 24.2226 AUM : 6.37 Cr Portfolio Duration : 5.63 Benchmark : CRISIL COMPOSITE BOND FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 39.48 0 - 5 YEARS 23.68 SOVEREIGN 39.48 AAA 54.47 5 - 10 YEARS 56.87 FINANCIAL AND INSURANCE ACTIVITIES 19.29 CASH & CASH EQUIVALENTS 6.05 MORE THAN 10 YEARS 19.45 INFRASTRUCTURE 24.87 Total 100.00 Total 100.00 HOUSING 10.32 OTHERS 6.05 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.45% GSEC MD 07/10/2029 10.55 7.29% STATE GOVT OF KARNATAKA MD10/03/2039 3.28 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 8.72 7.25% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD 6.22% GSEC MD 16/03/2035 7.50 MD 17/06/2030 3.22 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 7.09 7.08% STATE GOVT OF GUJARAT MD 10/03/2031 3.20 8.65% RELIANCE INDUSTRIES LTD 11/12/2028 7.05 6.97% KARNATAKA SDL MD 30/09/2031 3.18 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 6.97 9.30% NCD POWER GRID CORPORATION MD 28/06/2027 2.25 5.77% GSEC MD 03/08/2030 6.03 8.95% RELIANCE INDUSTRIES LIMITED MD 09/11/2028 1.79 7.17% GSEC MD 08/01/2028 5.75 8.79% NCD INDIAN RAILWAY FINANCE CORPORATION LTD. MD 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 3.60 04/05/2030 1.79 8.56% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 29/11/2028 3.53 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 1.58 7.98% NCD NATIONAL HIGHWAYS AUTHORITY OF INDIA 23/12/2049 3.50 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.38

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.64% 1.41%

EQUITIES 0% - Return 6 Month 2.34% 2.36%

Returns 1 Year 7.05% 7.69% FIXED INCOME SECURITIES Returns 2 Year 9.57% 10.11%

100% 100% Returns 3 Year 8.48% 8.97% MONEY MARKET INSTRUMENT Inception 7.51% 7.91%

Indepth | Apr 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 : 22.0438 AUM : 37.52 Cr Portfolio Duration : 1.34 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 67.24 MORE THAN 6 MONTHS 62.44 SOVEREIGN 67.24 AAA 22.11 LESS THAN 6 MONTHS 37.56 FINANCIAL AND INSURANCE ACTIVITIES 13.99 A1+ 0.66 Total 100.00 INFRASTRUCTURE 8.61 CASH & CASH EQUIVALENTS 9.99 OTHERS 10.16 Total 100.00 TOTAL 100.00

DEBT HOLDINGS % of AUM DEBT HOLDINGS % of AUM

6.17% GSEC MD 15/07/2021 25.78 10.20% NCD HDB FINANCIAL SERVICES LTD. MD 17/10/2023 4.74 7.68% GSEC MD 15/12/2023 15.10 364 DAYS TREASURY BILL MD 22/07/2021 2.11 7.89% STATE GOVT OF MD 31/01/2024 11.78 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.66 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 8.61 9.37% TATA CAPITAL FINANCIAL SERVICES LTD. MD 31/03/2025 0.30 7.35% NCD BAJAJ FINANCE LTD. MD 10/11/2022 8.29 8% NCD BRITANNIA INDUSTRIES LTD. MD 28/08/2022 0.17 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 7.40 364 DAYS TREASURY BILL MD 16/12/2021 5.07

ASSETASSET ALLOCATION ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.46% 0.30%

EQUITIES 0% - Return 6 Month 1.39% 1.79%

Returns 1 Year 5.00% 4.07% FIXED INCOME 60% -100% 89.35% SECURITIES Returns 2 Year 5.84% 5.21%

Returns 3 Year 3.01% 6.01% MONEY MARKET 0% – 40% 10.65% INSTRUMENT Inception 6.49% 7.18%

Indepth | Apr 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 : 22.5838 AUM : 1.46 Cr Portfolio Duration : 1.39 Benchmark : CRISIL LIQUID FUND

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 83.73 MORE THAN 6 MONTHS 66.51 SOVEREIGN 83.73 AAA 7.35 LESS THAN 6 MONTHS 33.49 HOUSING SECTOR 7.35 8.92 CASH & CASH EQUIVALENTS 8.92 Total 100.00 OTHERS TOTAL 100.00 Total 100.00

DEBT HOLDINDS % of AUM

6.17% GSEC MD 15/07/2021 26.16 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 25.48 7.68% GSEC MD 15/12/2023 14.61 8.78% STATE GOVT OF GUJARAT MD 21/12/2021 14.14 7.99% NCD HOUSING DEVELOPMENT FINANCE CORPORATION LTD. MD 11/07/2024 7.35 364 DAYS TREASURY BILL MD 16/12/2021 3.34

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.51% 0.30%

EQUITIES 0% - Return 6 Month 1.89% 1.79%

Returns 1 Year 4.91% 4.07% FIXED INCOME SECURITIES Returns 2 Year 5.32% 5.21%

100% 100% Returns 3 Year 5.46% 6.01% MONEY MARKET INSTRUMENT Inception 6.83% 7.09%

Indepth | Apr 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 : 26.8108 AUM : 0.36 Cr Portfolio Duration : 3.84 Benchmark : CRISIL COMPOSITE BOND FUND (80%) + Large-cap Equity Index(20%)

RATING PROFILE MATURITY PROFILE SECTORAL PROFILE

GOVT BONDS 67.31 0 - 5 YEARS 21.78 SOVEREIGN 67.31 CASH & CASH EQUIVALENTS 32.69 5 - 10 YEARS 58.41 OTHERS 32.69 Total 100.00 MORE THAN 10 YEARS 19.81 Total 100.00 Total 100.00

EQUITY HOLDINDS % of AUM EQUITY HOLDINDS % of AUM

RELIANCE INDUSTRIES LIMITED 1.70 GRASIM INDUSTRIES LIMITED 0.20 HDFC BANK LIMITED 1.68 MARUTI SUZUKI INDIA LIMITED 0.19 INFOSYS LIMITED 1.31 ULTRATECH CEMENT LIMITED 0.18 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 1.23 POWER GRID CORPORATION OF INDIA LIMITED 0.18 ICICI BANK LIMITED 1.12 INDUSIND BANK LIMITED 0.18 TATA CONSULTANCY SERVICES LIMITED 0.87 JSW STEEL LIMITED 0.18 KOTAK MAHINDRA BANK LIMITED 0.67 HINDALCO INDUSTRIES LIMITED 0.18 ITC LIMITED 0.59 CIPLA LIMITED 0.16 HINDUSTAN UNILEVER LIMITED 0.53 NTPC LIMITED 0.13 AXIS BANK LIMITED 0.48 BHARAT PETROLEUM CORPORATION LIMITED 0.13 LARSEN & TOUBRO LIMITED 0.43 DR REDDYS LABORATORIES LIMITED 0.12 BAJAJ FINANCE LIMITED 0.42 UPL LIMITED 0.12 STATE BANK OF INDIA 0.39 OIL & NATURAL GAS CORPORATION LIMITED 0.11 HCL TECHNOLOGIES LIMITED 0.38 BAJAJ AUTO LIMITED 0.10 ASIAN PAINTS LIMITED 0.35 BRITANNIA INDUSTRIES LIMITED 0.10 BHARTI AIRTEL LIMITED 0.33 HDFC LIFE INSURANCE COMPANY LIMITED 0.10 MAHINDRA & MAHINDRA LIMITED 0.28 HERO MOTOCORP LIMITED 0.08 BAJAJ FINSERV LIMITED 0.27 INDIAN OIL CORPORATION LIMITED 0.07 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.25 TATA CONSUMER PRODUCTS LIMITED 0.07 TECH MAHINDRA LIMITED 0.24 COAL INDIA LIMITED 0.06 WIPRO LIMITED 0.24 SBI LIFE INSURANCE COMPANY LIMITED 0.05 TATA STEEL LIMITED 0.22 YES BANK LIMITED 0.01 TITAN COMPANY LIMITED 0.21 TATA MOTORS LIMITED 0.21

DEBT HOLDINGS % of AUM

7.17% GSEC MD 08/01/2028 22.96 8.15% GSEC MD 24/11/2026 15.03 7.40% GSEC MD 09/09/2035 14.60 6.17% GSEC MD 15/07/2021 5.53 6.45% GSEC MD 07/10/2029 5.51 5.77% GSEC MD 03/08/2030 2.64 9.23% GSEC MD 23/12/2043 1.05

Indepth | Apr 2021 | 18 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 6.60 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 3.05 INFRASTRUCTURE 2.66 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 1.00 MANUFACTURE OF TOBACCO PRODUCTS 0.59 MANUFACTURE OF BASIC METALS 0.58 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 0.53 CIVIL ENGINEERING 0.43 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 0.40 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.28 OTHER MANUFACTURING 0.21 MANUFACTURE OF TEXTILES 0.20 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.18 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.18 MANUFACTURE OF FOOD PRODUCTS 0.17 MINING OF COAL AND LIGNITE 0.06 SOVERIGN 67.31

ASSET ALLOCATION PERFORMANCE

Period Fund Benchmark F&U ACTUAL Return 1 Month 0.82% 1.35% EQUITIES 0% – 20% 17.12% Return 6 Month 6.42% 8.01%

FIXED INCOME 50% – 100% Returns 1 Year 15.64% 20.33% SECURITIES 67.31% Returns 2 Year 9.30% 10.57% MONEY MARKET INSTRUMENT 0 % – 40% 15.58% Returns 3 Year 8.74% 9.82%

Inception 8.81% 8.56%

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

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to maintain a balance between equity and debt. NAV : 29.6777 AUM : 21.59 Cr Portfolio Duration : 4.34 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE

GOVT BONDS 26.47 AAA 11.25 A1+ 0.68 CASH & CASH EQUIVALENTS 61.60 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.56 GRASIM INDUSTRIES LIMITED 0.50 HDFC BANK LIMITED 5.50 HDFC LIFE INSURANCE COMPANY LIMITED 0.49 INFOSYS LIMITED 4.31 INDUSIND BANK LIMITED 0.48 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.96 POWER GRID CORPORATION OF INDIA LIMITED 0.48 ICICI BANK LIMITED 3.55 DR REDDYS LABORATORIES LIMITED 0.47 TATA CONSULTANCY SERVICES LIMITED 2.87 TATA MOTORS LIMITED 0.46 HINDUSTAN UNILEVER LIMITED 1.87 NTPC LIMITED 0.45 KOTAK MAHINDRA BANK LIMITED 1.82 HINDALCO INDUSTRIES LIMITED 0.41 ITC LIMITED 1.64 BAJAJ AUTO LIMITED 0.41 LARSEN & TOUBRO LIMITED 1.49 JSW STEEL LIMITED 0.40 AXIS BANK LIMITED 1.28 DIVIS LABORATORIES LIMITED 0.40 STATE BANK OF INDIA 1.23 BRITANNIA INDUSTRIES LIMITED 0.37 BAJAJ FINANCE LIMITED 1.20 CIPLA LIMITED 0.36 BHARTI AIRTEL LIMITED 1.07 SHREE CEMENT LIMITED 0.34 ASIAN PAINTS LIMITED 0.99 HERO MOTOCORP LIMITED 0.33 HCL TECHNOLOGIES LIMITED 0.92 OIL & NATURAL GAS CORPORATION LIMITED 0.32 MARUTI SUZUKI INDIA LIMITED 0.79 EICHER MOTORS LIMITED 0.31 ULTRATECH CEMENT LIMITED 0.67 SBI LIFE INSURANCE COMPANY LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.66 UPL LIMITED 0.30 TITAN COMPANY LIMITED 0.56 BHARAT PETROLEUM CORPORATION LIMITED 0.30 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.56 COAL INDIA LIMITED 0.23 WIPRO LIMITED 0.53 TATA CONSUMER PRODUCTS LIMITED 0.22 TECH MAHINDRA LIMITED 0.53 INDIAN OIL CORPORATION LIMITED 0.20 TATA STEEL LIMITED 0.53 YES BANK LIMITED 0.03 NESTLE INDIA LIMITED 0.52 BAJAJ FINSERV LIMITED 0.52

DEBT HOLDINDS % of AUM DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 14.53 8.03% FOOD CORPORATION OF INDIA SPCIAL BOND MD 15/12/2024 0.60 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 3.74 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 0.52 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 3.74 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.50 7.17% GSEC MD 08/01/2028 3.73 6.22% GSEC MD 16/03/2035 0.44 6.45% GSEC MD 07/10/2029 3.63 8.15% GSEC MD 24/11/2026 0.25 5.77% GSEC MD 03/08/2030 3.12 8.83% GSEC MD 12/12/2041 0.17 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 1.59 9.41% NCD INDIA INFRASTRUCTURE FINANCE COMPANY LTD. MD 27/07/2037 1.15 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 0.68

Indepth | Apr 2021 | 20 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.64 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 9.16 INFRASTRUCTURE 17.51 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.16 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.78 MANUFACTURE OF TOBACCO PRODUCTS 1.64 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.57 CIVIL ENGINEERING 1.49 MANUFACTURE OF BASIC METALS 1.34 MANUFACTURE OF FOOD PRODUCTS 1.11 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.01 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.74 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.66 OTHER MANUFACTURING 0.56 MANUFACTURE OF TEXTILES 0.50 MINING OF COAL AND LIGNITE 0.23 HOUSING SECTOR 0.52 SOVEREIGN 26.47

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.12% 1.22%

EQUITIES 30% – 70% 53.67% Return 6 Month 15.82% 20.72%

Returns 1 Year 38.19% 48.76% FIXED INCOME SECURITIES Returns 2 Year 9.98% 11.59% 30% – 70% 46.33% Returns 3 Year 10.12% 11.74% MONEY MARKET INSTRUMENT Inception 9.00% 9.43%

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

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to maintain a balance between equity and debt. NAV : 32.7381 AUM : 3.30 Cr Portfolio Duration : 4.74 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 20.28 SOVEREIGN 20.28 AAA 16.38 INFRASTRUCTURE 9.54 CASH & CASH EQUIVALENTS 63.34 HOUSING SECTOR 6.84 Total 100.00 OTHERS 63.34 TOTAL 100.00

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

HDFC BANK LIMITED 5.43 TATA STEEL LIMITED 0.50 RELIANCE INDUSTRIES LIMITED 5.25 HDFC LIFE INSURANCE COMPANY LIMITED 0.49 INFOSYS LIMITED 4.06 GRASIM INDUSTRIES LIMITED 0.48 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.74 INDUSIND BANK LIMITED 0.46 ICICI BANK LIMITED 3.36 POWER GRID CORPORATION OF INDIA LIMITED 0.45 TATA CONSULTANCY SERVICES LIMITED 2.70 TATA MOTORS LIMITED 0.44 KOTAK MAHINDRA BANK LIMITED 2.14 DR REDDYS LABORATORIES LIMITED 0.44 HINDUSTAN UNILEVER LIMITED 1.76 NTPC LIMITED 0.42 ITC LIMITED 1.55 BAJAJ AUTO LIMITED 0.39 AXIS BANK LIMITED 1.47 JSW STEEL LIMITED 0.39 LARSEN & TOUBRO LIMITED 1.40 HINDALCO INDUSTRIES LIMITED 0.39 STATE BANK OF INDIA 1.17 DIVIS LABORATORIES LIMITED 0.38 BAJAJ FINANCE LIMITED 1.15 CIPLA LIMITED 0.37 BHARTI AIRTEL LIMITED 1.01 SHREE CEMENT LIMITED 0.36 ASIAN PAINTS LIMITED 0.96 BRITANNIA INDUSTRIES LIMITED 0.35 HCL TECHNOLOGIES LIMITED 0.90 HERO MOTOCORP LIMITED 0.32 MARUTI SUZUKI INDIA LIMITED 0.77 OIL & NATURAL GAS CORPORATION LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.64 EICHER MOTORS LIMITED 0.29 ULTRATECH CEMENT LIMITED 0.63 SBI LIFE INSURANCE COMPANY LIMITED 0.29 TITAN COMPANY LIMITED 0.55 UPL LIMITED 0.29 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.54 BHARAT PETROLEUM CORPORATION LIMITED 0.28 NESTLE INDIA LIMITED 0.52 COAL INDIA LIMITED 0.22 WIPRO LIMITED 0.50 INDIAN OIL CORPORATION LIMITED 0.21 TECH MAHINDRA LIMITED 0.50 TATA CONSUMER PRODUCTS LIMITED 0.21 BAJAJ FINSERV LIMITED 0.50 YES BANK LIMITED 0.02

DEBT HOLDINDS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 7.84 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 6.84 7.17% GSEC MD 08/01/2028 4.75 7.40% GSEC MD 09/09/2035 4.19 5.77% GSEC MD 03/08/2030 3.49 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 3.26 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 3.22 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 3.06

Indepth | Apr 2021 | 22 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 20.21 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 8.66 INFRASTRUCTURE 17.45 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.00 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.73 MANUFACTURE OF TOBACCO PRODUCTS 1.55 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.50 CIVIL ENGINEERING 1.40 MANUFACTURE OF BASIC METALS 1.27 MANUFACTURE OF FOOD PRODUCTS 1.08 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 0.99 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.71 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.64 OTHER MANUFACTURING 0.55 MANUFACTURE OF TEXTILES 0.48 MINING OF COAL AND LIGNITE 0.22 HOUSING SECTOR 6.84 SOVEREIGN 20.28

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.16% 1.22%

EQUITIES 30%-70% 51.89% Return 6 Month 15.81% 20.72%

Returns 1 Year 38.77% 48.76% FIXED INCOME SECURITIES Returns 2 Year 10.06% 11.59%

30% -70% 48.11% Returns 3 Year 10.48% 11.74% MONEY MARKET INSTRUMENT Inception 10.13% 12.44%

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

Fund Manager : Avinash Agarwal Fund Manager : Karan Jhaveri Investment Objective : This fund will aim to maintain a balance between equity and debt exposure so that the client has a stable and attractive long term return. The fund will also shift allocation between debt and equity to gain from asset price movements over medium to long term. NAV : 22.0917 AUM : 23.01 Cr Portfolio Duration : 4.95 Benchmark : CRISIL COMPOSITE BOND FUND (35%) + Large-cap Equity Index(65%)

RATING PROFILE SECTORAL PROFILE

GOVT BONDS 21.56 SOVEREIGN 21.56 AAA 13.11 FINANCIAL AND INSURANCE ACTIVITIES 2.64 A1+ 2.14 INFRASTRUCTURE 11.63 CASH & CASH EQUIVALENTS 63.18 HOUSING SECTOR 0.98 Total 100.00 OTHERS 63.18 Total 100.00

EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 5.62 HDFC LIFE INSURANCE COMPANY LIMITED 0.49 HDFC BANK LIMITED 5.13 INDUSIND BANK LIMITED 0.48 INFOSYS LIMITED 4.35 POWER GRID CORPORATION OF INDIA LIMITED 0.47 ICICI BANK LIMITED 3.59 DR REDDYS LABORATORIES LIMITED 0.47 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.53 TATA MOTORS LIMITED 0.46 TATA CONSULTANCY SERVICES LIMITED 2.85 NTPC LIMITED 0.44 ULTRATECH CEMENT LIMITED 2.07 BAJAJ AUTO LIMITED 0.41 LARSEN & TOUBRO LIMITED 1.94 HINDALCO INDUSTRIES LIMITED 0.41 HINDUSTAN UNILEVER LIMITED 1.85 JSW STEEL LIMITED 0.40 KOTAK MAHINDRA BANK LIMITED 1.84 DIVIS LABORATORIES LIMITED 0.39 ITC LIMITED 1.63 BRITANNIA INDUSTRIES LIMITED 0.37 AXIS BANK LIMITED 1.28 CIPLA LIMITED 0.35 STATE BANK OF INDIA 1.23 SHREE CEMENT LIMITED 0.33 BAJAJ FINANCE LIMITED 1.20 HERO MOTOCORP LIMITED 0.32 BHARTI AIRTEL LIMITED 1.06 OIL & NATURAL GAS CORPORATION LIMITED 0.32 ASIAN PAINTS LIMITED 0.98 EICHER MOTORS LIMITED 0.31 HCL TECHNOLOGIES LIMITED 0.91 UPL LIMITED 0.31 MARUTI SUZUKI INDIA LIMITED 0.78 SBI LIFE INSURANCE COMPANY LIMITED 0.30 MAHINDRA & MAHINDRA LIMITED 0.65 BHARAT PETROLEUM CORPORATION LIMITED 0.29 TITAN COMPANY LIMITED 0.55 COAL INDIA LIMITED 0.23 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.55 TATA CONSUMER PRODUCTS LIMITED 0.21 WIPRO LIMITED 0.53 INDIAN OIL CORPORATION LIMITED 0.20 TECH MAHINDRA LIMITED 0.52 YES BANK LIMITED 0.02 TATA STEEL LIMITED 0.52 NESTLE INDIA LIMITED 0.52 BAJAJ FINSERV LIMITED 0.51 GRASIM INDUSTRIES LIMITED 0.49

Indepth | Apr 20211 | 24 DEBT HOLDINGS % of AUM

7.95% FERTILISER BOND MD 18/02/2026 8.33 7.14% NATIONAL HIGHWAYS AUTHORITY OF INDIA MD 10/09/2040 7.90 6.45% GSEC MD 07/10/2029 3.14 5.77% GSEC MD 03/08/2030 3.13 8.49% NCD LNT INFRA DEBT FUND LTD MD.28/01/2025 2.34 7.89% STATE GOVT OF MAHARASHTRA MD 31/01/2024 2.31 CP HDB FINANCIAL SERVICES LTD MD 06/08/2021 2.14 7.72% GSEC MD 26/102055 1.71 7.17% GSEC MD 08/01/2028 1.36 8.70% NCD LIC HOUSING FINANCE LTD. MD 23/03/2029 0.98 7.40% GSEC MD 09/09/2035 0.95 6.22% GSEC MD 16/03/2035 0.62 10.15% NCD BAJAJ FINANCE LTD. MD 19/09/2024 0.50 7.85% NCD POWER FINANCE CORPORATION LTD. MD 03/04/2028 0.47 7.79% NCD RURAL ELECTRIFICATION CORPORATION LTD. MD 21/05/2030 0.46 7.75% POWER FINANCE CORPORATION LIMITED 11/06/2030 0.46

INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.24 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 9.16 INFRASTRUCTURE 20.04 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 3.14 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 2.40 CIVIL ENGINEERING 1.94 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 1.76 MANUFACTURE OF TOBACCO PRODUCTS 1.63 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 1.55 MANUFACTURE OF BASIC METALS 1.33 MANUFACTURE OF FOOD PRODUCTS 1.10 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 0.73 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 0.65 OTHER MANUFACTURING 0.55 MANUFACTURE OF TEXTILES 0.49 MINING OF COAL AND LIGNITE 0.23 HOUSING SECTOR 0.98 SOVERIGN 21.56

ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 1.25% 1.22%

EQUITIES 20%-80% 54.67% Return 6 Month 16.22% 20.72%

Returns 1 Year 38.76% 48.76% FIXED INCOME SECURITIES Returns 2 Year 9.75% 11.59% 20%-80% 45.33% Returns 3 Year 10.15% 11.74% MONEY MARKET INSTRUMENT Inception 7.82% 8.93%

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

Fund Manager : Karan Jhaveri Investment Objective : This fund aims at restricting the fall in NAV at any point of time below 80% of the highest NAV recorded from the date of inception of this fund. NAV : 20.6910 AUM : 27.48 Cr Portfolio Duration : 0.01

RATING PROFILE SECTORAL PROFILE Current NAV 20.6910 GOVT BONDS 0.36 SOVEREIGN 0.36 CASH & CASH EQUIVALENTS 99.64 OTHERS 99.64 Max NAV 21.3641 Total 100.00 Total 100.00 80% of Max NAV 17.0912

EOUITY HOLDINGS % of AUM EOUITY HOLDINGS % of AUM

RELIANCE INDUSTRIES LIMITED 6.22 NTPC LIMITED 0.74 HDFC BANK LIMITED 6.09 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED 0.74 INFOSYS LIMITED 5.22 HINDALCO INDUSTRIES LIMITED 0.69 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.21 BAJAJ AUTO LIMITED 0.68 ICICI BANK LIMITED 3.77 JSW STEEL LIMITED 0.67 TATA CONSULTANCY SERVICES LIMITED 3.52 DIVIS LABORATORIES LIMITED 0.66 HINDUSTAN UNILEVER LIMITED 3.11 WIPRO LIMITED 0.65 ITC LIMITED 2.74 TECH MAHINDRA LIMITED 0.65 LARSEN & TOUBRO LIMITED 2.50 INDUSIND BANK LIMITED 0.63 KOTAK MAHINDRA BANK LIMITED 2.41 BRITANNIA INDUSTRIES LIMITED 0.61 BHARTI AIRTEL LIMITED 1.78 CIPLA LIMITED 0.59 ASIAN PAINTS LIMITED 1.64 SHREE CEMENT LIMITED 0.58 AXIS BANK LIMITED 1.64 BAJAJ FINSERV LIMITED 0.55 STATE BANK OF INDIA 1.31 HERO MOTOCORP LIMITED 0.54 MARUTI SUZUKI INDIA LIMITED 1.31 HDFC LIFE INSURANCE COMPANY LIMITED 0.54 BAJAJ FINANCE LIMITED 1.28 OIL & NATURAL GAS CORPORATION LIMITED 0.54 HCL TECHNOLOGIES LIMITED 1.12 EICHER MOTORS LIMITED 0.52 ULTRATECH CEMENT LIMITED 1.12 UPL LIMITED 0.51 MAHINDRA & MAHINDRA LIMITED 1.09 BHARAT PETROLEUM CORPORATION LIMITED 0.49 TITAN COMPANY LIMITED 0.94 COAL INDIA LIMITED 0.39 SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.93 TATA CONSUMER PRODUCTS LIMITED 0.38 NESTLE INDIA LIMITED 0.87 INDIAN OIL CORPORATION LIMITED 0.34 TATA STEEL LIMITED 0.87 SBI LIFE INSURANCE COMPANY LIMITED 0.32 GRASIM INDUSTRIES LIMITED 0.83 YES BANK LIMITED 0.03 POWER GRID CORPORATION OF INDIA LIMITED 0.80 DR REDDYS LABORATORIES LIMITED 0.78 TATA MOTORS LIMITED 0.78

DEBT HOLDINGS % of AUM

364 DAYS TREASURY BILL MD 16/09/2021 0.36

Indepth | Apr 2021 | 26 INDUSTRY % of AUM

FINANCIAL AND INSURANCE ACTIVITIES 22.76 INFRASTRUCTURE 11.65 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 11.17 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.26 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 2.97 MANUFACTURE OF TOBACCO PRODUCTS 2.74 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 2.61 CIVIL ENGINEERING 2.50 MANUFACTURE OF BASIC METALS 2.24 MANUFACTURE OF FOOD PRODUCTS 1.87 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.69 MANUFACTURE OF OTHER TRANSPORT EQUIPMENT 1.23 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.09 OTHER MANUFACTURING 0.94 MANUFACTURE OF TEXTILES 0.83 MINING OF COAL AND LIGNITE 0.39 SOVERIGN 0.36

ASSET ALLOCATION PERFORMANCE

F&U ACTUAL Period Fund Benchmark

Return 1 Month 0.53% 1.22% EQUITIES 0%-100% 71.94% Return 6 Month 14.80% 20.72%

Returns 1 Year 21.46% 48.76% FIXED INCOME SECURITIES Returns 2 Year 2.42% 11.59% 0%-100% 28.06% Returns 3 Year 5.03% 11.74% MONEY MARKET INSTRUMENT Inception 6.49% 9.47%

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

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AEGON, toh tension gone. ABOUT AEGON LIFE

Aegon Life Insurance Company Limited is focused on fulfilling its vision of creating tension-free lives. Pursuing the same goal, we provide a complete product suite, customized advice, and are constantly looking to enhance the overall customer experience. Aegon Life was formed with the coming together of Aegon N. V, an international provider of life insurance, pensions and asset management, and Bennett Coleman and Company, India's largest media popularly known as the Times Group. This union brings together a local approach, with global expertise of launching products that cater to different sets of customers to meet their long-term financial goals. The company is headquartered in , India, with its branches across various cities. It serves 3 Lakh+ customers serving the vision- Aegon, toh tension gone.

ABOUT AEGON

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

ABOUT BENNETT, COLEMAN & COMPANY LIMITED

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

Indepth | Apr 2021 | 29 Disclaimers THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER. Funds do not offer guaranteed or assured returns. Investments are subject to market risk. For more details, please contact your Financial Advisors. Unit Link Life Insurance Products are different from the Traditional Insurance Products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Aegon Life Insurance company Limited is only the name of the Insurance company and the specified Unit Linked funds do not in any way indicate the quality of the contract, its future prospects or returns. For more details on ALI products and respective risk factors, terms and conditions please read respective sales brochure documents carefully before concluding a sale. The respective sales brochure documents for various products are published in the website - www.aegonlife.com.This document is issued by Aegon Life Insurance Company Limited. While reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. Past performance is not necessarily indicative of future performance. We have reviewed the report, and insofar as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Aegon Life Insurance Company Limited, nor any person connected with it, accepts any liability arising from the use of this document. You are advised to make your own independent judgment with respect to any matter contained herein. Insurance is the subject matter of the solicitation. Corporate Identity No.: U66010MH2007PLC169110. Website: www.aegonlife.com. Fax: 022-61180200/300. Email: [email protected]. Aegon Life Insurance Company Limited Registration No. 138. Registered office: A - 201, 2nd Floor, Leela Business Park, Andheri-Kurla Road, Andheri (E), Mumbai - 400059.

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

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

Indepth | Apr 2021 | 30