MAY 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 | May 2021 | 2 Commentary on the Indian Securities Market for April 2021 Nifty (down 0.4%) was largely flat in April post a flattish march. The covid situation has worsened in the month of April in India leading to different levels of lockdowns in various states. The vaccination program for the age group of 18-44 years has been allowed from 1 st May. However, vaccination availability is a concern in the short term and may lead to some delays. The dollar index corrected after three months of up move. It was down 2.09% and closed at 91.28 level. Despite the fall in Dollar index, the rupee was weak and depreciated by 97 paise to close at 74.08 level. Brent Crude gained almost 6% after one month of correction and ended at 67.25 level. Gold was up by 3.6% after three months of correction. Foreign institutional investors (FIIs) investment turned negative after six month of positive inflows. They sold about $1.3 bn worth of equity in April. Domestic institutional investors (DIIs) investment continued to be positive for a second month in a row. Equity mutual funds received net inflows in March after eight consecutive months of outflows (received inflows of 9115 crs in March) Consumer price Index (CPI) witnessed an uptick again with increase in food and fuel prices. The CPI came at 5.52% in March vs 5.03% in February. The Index of Industrial Production (IIP) contracted by 3.6% in February after contracting by 0.8% in January. GST collections continued to be strong with April collections at 1.41 lakh crs, 14% MoM growth. This is the highest collection ever and the fifth month in a row where the collections have crossed 1.1 lakh crs. In May, markets will react to the progress of covid and vaccination in India and across the world and the Annual results of companies. Indepth | May 2021 | 3 Bonds traded with a positive bias as the Monetary Policy Committee held rates and expressed concerns about the raging second wave of the Coronavirus pandemic. Concerns were also raised by members on the steepness in the yield curve which led to an announcement of a structured G-Sec Acquisition Programme (GSAP) for an Nifty (down 0.4%) was largely flat in April post a flattish march. The covid situation has amount of INR 1 trillion in Q1. These events led to the 10Y benchmark yield to end at worsened in the month of April in India leading to different levels of lockdowns in 6.03, dropping from around 6.12 at the start of the month. The second wave has various states. The vaccination program for the age group of 18-44 years has been clouded the prospects of a swifter recovery in the economy with various states allowed from 1 st May. However, vaccination availability is a concern in the short term announcing lockdowns. Market remains hopeful that the RBI will continue to support and may lead to some delays. the markets through the GSAP programme in ensuing quarters. The dollar index corrected after three months of up move. It was down 2.09% and closed at 91.28 level. Despite the fall in Dollar index, the rupee was weak and depreciated by 97 paise to close at 74.08 level. Brent Crude gained almost 6% after one month of correction and ended at 67.25 level. Gold was up by 3.6% after three months of correction. Foreign institutional investors (FIIs) investment turned negative after six month of positive inflows. They sold about $1.3 bn worth of equity in April. Domestic institutional investors (DIIs) investment continued to be positive for a second month in a row. Equity mutual funds received net inflows in March after eight consecutive months of outflows (received inflows of 9115 crs in March) Consumer price Index (CPI) witnessed an uptick again with increase in food and fuel prices. The CPI came at 5.52% in March vs 5.03% in February. The Index of Industrial Production (IIP) contracted by 3.6% in February after contracting by 0.8% in January. GST collections continued to be strong with April collections at 1.41 lakh crs, 14% MoM growth. This is the highest collection ever and the fifth month in a row where the collections have crossed 1.1 lakh crs. In May, markets will react to the progress of covid and vaccination in India and across the world and the Annual results of companies. Indepth | May 2021 | 4 FUND MANAGEMENT TEAM FUND MANAGER AVINASH AGARWAL Qualification : MBA (IIM-L) Experience : 15 years Number of funds : 10 Lovelesh Manocha Qualification : B.E (Chemical), PGDM (IIML) Experience : 12 years Number of funds : 1 Karan Jhaveri Qualification : Chartered Accountant, Chartered Financial Analyst (CFA Institute, USA) Experience : 5 years Number of funds : 9 Indepth | May 2021 | 5 ENHANCED EQUITY FUND SFIN: ULIF00105/07/08EEF0138 Inception Date 24 - 7 - 2008 Fund Manager : Avinash Agarwal Investment Objective : This fund will aim to invest in a well-diversified portfolio of equity instruments, and generate attractive returns in the long term. NAV : 35.2545 AUM : 100.24 Cr Benchmark : NIFTY 50 EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM INFOSYS LIMITED 8.84 DIVIS LABORATORIES LIMITED 1.45 RELIANCE INDUSTRIES LIMITED 7.58 CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED 1.45 ICICI BANK LIMITED 6.73 KOTAK MAHINDRA BANK LIMITED 1.36 HDFC BANK LIMITED 6.62 DEEPAK NITRITE LIMITED 1.23 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 3.95 ULTRATECH CEMENT LIMITED 1.16 DR REDDYS LABORATORIES LIMITED 3.51 SUN PHARMACEUTICAL INDUSTRIES LIMITED 1.11 SBI-ETF NIFTY BANK 3.23 TATA CONSUMER PRODUCTS LIMITED 1.10 TATA STEEL LIMITED 3.05 TATA MOTORS LIMITED 1.09 TATA CONSULTANCY SERVICES LIMITED 2.87 JSW STEEL LIMITED 1.09 NIPPON INDIA MUTUAL FUND - NIPPON INDIA ETF NIFTY IT 2.85 VOLTAS LIMITED 1.06 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 2.76 INFO EDGE (INDIA) LIMITED 0.98 HINDUSTAN UNILEVER LIMITED 2.41 WIPRO LIMITED 0.89 NESTLE INDIA LIMITED 2.36 MAHINDRA & MAHINDRA LIMITED 0.89 CIPLA LIMITED 2.23 OBEROI REALTY LIMITED 0.83 BHARAT FORGE LIMITED 2.09 ITC LIMITED 0.80 BHARTI AIRTEL LIMITED 2.04 HONEYWELL AUTOMATION INDIA LIMITED 0.69 STATE BANK OF INDIA 1.99 STEEL AUTHORITY OF INDIA LIMITED 0.60 AXIS BANK LIMITED 1.99 LARSEN & TOUBRO INFOTECH LIMITED 0.59 BOSCH LIMITED 1.98 HDFC LIFE INSURANCE COMPANY LIMITED 0.58 LARSEN & TOUBRO LIMITED 1.87 AMBUJA CEMENTS LIMITED 0.52 HINDALCO INDUSTRIES LIMITED 1.75 GUJARAT STATE PETRONET LIMITED 0.49 SRF LIMITED 1.75 ENDURANCE TECHNOLOGIES LIMITED 0.49 BHARAT PETROLEUM CORPORATION LIMITED 1.64 INDUSTRY % of AUM INDUSTRY % of AUM FINANCIAL AND INSURANCE ACTIVITIES 23.23 MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. 1.95 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES 13.19 CIVIL ENGINEERING 1.87 INFRASTRUCTURE 11.75 MANUFACTURE OF OTHER NON-METALLIC MINERAL PRODUCTS 1.68 MFG OF PHARMACEUTICALS, MEDICINAL CHEMICAL AND BOTANICAL 8.31 MANUFACTURE OF ELECTRICAL EQUIPMENTS 1.45 MANUFACTURE OF BASIC METALS 6.48 INFORMATION SERVICE ACTIVITIES 0.98 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS 5.38 REAL ESTATE ACTIVITIES 0.83 MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMI-TRAILERS 3.57 MANUFACTURE OF TOBACCO PRODUCTS 0.80 MANUFACTURE OF FOOD PRODUCTS 3.45 MANUFACTURE OF COMPUTER, ELECTRONIC AND OPTICAL PRODUCTS 0.69 MFG OF FABRICATED METAL PRODUCTS, EXCEPT MACHINERY & EQUIPMENTS 2.09 ASSET ALLOCATION PERFORMANCE Period Fund Benchmark F&U ACTUAL Return 1 Month 0.57% -0.41% EQUITIES 75% TO 100% 96.56 % Return 6 Month 25.72% 25.67% FIXED INCOME SECURITIES 0 % TO 25% 3.44 % Returns 1 Year 45.68% 48.39% MONEY MARKET INSTRUMENT Returns 2 Year 9.49% 11.56% Returns 3 Year 9.21% 10.84% Inception 10.36% 9.79% Indepth | May 2021 | 6 ACCELERATOR FUND SFIN: ULIF01203/09/10ACCELERATE0138 Inception Date 16 - 9 - 2010 Fund Manager : Lovelesh Manocha Investment Objective : This fund will aim at investing in equities of various sectors, to diversify the portfolio and to generate attractive returns in long term. This fund will also have the flexibility to invest in fixed interest assets and money market instruments up to 20%. NAV : 24.1893 AUM : 179.18 Cr Benchmark : S&P BSE 100 EQUITY HOLDINGS % of AUM EQUITY HOLDINGS % of AUM INFOSYS LIMITED 8.98 ASHOK LEYLAND LIMITED 0.98 ICICI BANK LIMITED 5.59 ITC LIMITED 0.98 RELIANCE INDUSTRIES LIMITED 4.67 JOHNSON CONTROLS - HITACHI AIR CONDITIONING TATA CONSULTANCY SERVICES LIMITED 4.33 INDIA LIMITED 0.94 HDFC BANK LIMITED 4.22 STEEL AUTHORITY OF INDIA LIMITED 0.71 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 4.09 ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED 0.68 NIPPON INDIA ETF BANKBEES EXCHANGE TRADED SCHEME 3.94 HDFC LIFE INSURANCE COMPANY LIMITED 0.66 KOTAK MAHINDRA BANK LIMITED 3.27 PIDILITE INDUSTRIES LIMITED 0.64 SBI-ETF NIFTY BANK 3.18 BATA INDIA LIMITED 0.54 HINDUSTAN UNILEVER LIMITED 2.79 LARSEN & TOUBRO INFOTECH LIMITED 0.50 STATE BANK OF INDIA 2.52 BALRAMPUR CHINI MILLS LIMITED 0.50 DR REDDYS LABORATORIES LIMITED 2.50 INDUSIND BANK LIMITED 0.34 DIVIS LABORATORIES LIMITED 2.41 CIPLA LIMITED 2.14 BHARAT FORGE LIMITED 2.06 INDUSTRY % of AUM HONEYWELL AUTOMATION INDIA LIMITED 2.02 BHARTI AIRTEL LIMITED 1.94 FINANCIAL AND INSURANCE ACTIVITIES 23.46 BOSCH LIMITED 1.93 VOLTAS LIMITED 1.81 COMPUTER PROGRAMMING, CONSULTANCY AND RELATED