Bigger. Bolder. Better. - Kotak Mahindra Bank Mahindra... · Bigger. Bolder. Better. Kotak Mahindra Old Mutual Life Insurance Limited. Annual eport 2013-14 1 Directors’ Report

Bigger. Bolder. Better.

Kotak Mahindra Old Mutual Life Insurance Limited

Annual Report 2013-14 1

Directors’ ReportTo the Members of Kotak Mahindra Old Mutual Life insurance Limited

Your Directors take great pleasure in presenting their Fourteenth Report on the business and operations of your Company together with the Audited Financial Statements for the year ended March 31, 2014.

FINANCIAL RESULTS

Your Company continues to demonstrate consistent performance in a challenging and competitive environment. This year your Company continues to be profitable, which it has achieved through a better product mix and prudent management of capital and cost. The summarised results of Operations of your Company for the Financial Year 2013-14 are as follows:

(` in Crores)

Particulars Year endedMarch 31, 2014

Year endedMarch 31, 2013

New Business Premium 1,272 1,188

Renewal Premium 1,429 1,590

Total Premium 2,701 2,778

Profit/(Loss) before tax 313 212

Profit/ (Loss) after tax 291 203

Bonus to Policyholders 57 43

Terminal Bonus to Policyholders 5 1.65

Net worth 1,042 803

New Business Sum Assured 139,510 106,847

Assets Under Management 12,104 10,964

Your Directors have declared the following rates of bonus on participating policies for the year ended 31st March 2014:

(a) 7% (2013 – 7%) on accumulation non-retirement products to participating life policyholders which comprises 4% bonus in addition to the guaranteed rate of 3%. An interim bonus of 2% p.a. for the policies matured, claimed death benefit or surrendered during the year. Additionally, terminal bonus of 15% on accumulation account value (2013 – 15%) for the policies matured and on death claim benefits paid during the year.

(b) 8% (2013 – 8%) on accumulation pension products to pension participating policyholders which comprises 5% bonus in addition to the guaranteed rate of 3%. An interim bonus of 3% p.a. for the policies matured, claimed death benefit or surrendered during the year. Additionally, terminal bonus of 10% on accumulation account value (2013 – 10%) for the policies matured and on death claim benefits paid during the year.

(c) On Conventional With Profits products:

• UnderSurakshitJeevanPlanandEternalLifePlans2.25%SimpleReversionarybonusforpoliciescompleting5thpolicyyearand2%SimpleReversionary bonus otherwise.

• 2%underChildEduandChildFuturePlan,

• 2.5%fortheregularpremiumpayingtermpoliciesand3%forlimitedpremiumpayingtermpoliciesunderClassicEndowmentPlanandPremiere Money Back Plan,

• ForPremiereEndowmentPlan,abonusrateof5%isguaranteedforthefirstfiveyears.

DIVIDEND

Your Directors do not recommend any dividend for the current year.

CAPITAL

Your Company is among the most efficient capital users in the life insurance space and has good Assets under Management to Capital ratio. During the year under review, the Authorised Share Capital of your Company was ` 625 Crores, while the Paid-up Share Capital of your Company was ` 510 Crores. There has been no capital infusion during 2013-14.

Kotak Mahindra Old Mutual Life Insurance Limited2

LICENCE

The Insurance Regulatory and Development Authority has renewed your Company’s licence to carry on the business of life insurance and annuity for the year 2014-15.

INDUSTRY SCENARIO

Theprivate industryhaswitnesseda fall of4% innewbusinesspremiumsover theprevious year.From January2014, the Life Insurance Industrywitnessed a major change in the way business was conducted. Over 400 life insurance schemes operating in the market were withdrawn and replaced with new schemes, complying with new product guidelines issued by the IRDA, which aims to make policies more customer friendly.

PRODUCTS

In view of the new product guidelines, your Company revamped its entire product portfolio, comprising Individual and Group Products. Your company launched twenty products and seven riders on the individual side catering to various customer needs such as protection, savings, investment and additional protection by way of riders.

Your company’s products have been designed such that they fulfill policyholder needs well, yet are simple to understand and offer competitive returns and benefits to the policyholder. The company also introduced ‘MySolutions’ – wherein a bouquet of products fulfilling various customer needs were offered in combination, setting a new benchmark in the industry.

Your company launched nine products and nine riders on the group side catering to the needs of employer–employee and non-employer employee groups.

BUSINESS AND DISTRIBUTION CHANNELS

a) Individual Business

The year witnessed increased focus towards traditional products and an increasing trend towards long-term selling, which augurs well for the Industry. Your Company has driven protection and long term savings (PALTS) across its distribution verticals.

Your Company continues to focus on distribution efficiency. Investment in training Life Advisors and sales hierarchy has been stepped up to ensure that the distribution team is equipped to meet customers’ expectations.

KotakMahindra Bank has a 36% share(on an adjusted premium (APE)basis taking single premium as one tenth)of individual new businesspremiums for the Financial Year 2013-14. Besides Kotak Mahindra Bank, your company has agency tie-ups with cooperative banks, commercial banks, corporate agents and brokers which also contribute to the premium income.

b) Group Business

Group portfolio comprises of Traditional and Unit Linked products catering to gratuity, leave encashment and superannuation needs of employer-employee groups. In addition, your company also offers Term and Credit Insurance products. Your Company generated a premium income of ` 629 Crores (FY 2012-13 ` 500 Crores) from group insurance business representing a growth of 25.68% over FY 2012-13.

MARKETING

Your Company’s marketing efforts during the year were focused on strengthening your Company’s core purpose of ‘adding value to people’s lives through Protection & Long Term Savings’ (PALTS), and, reinforcing the culture of customer-centricity in every outreach. To this end, your company:

Made concentrated efforts to understand customer insights through usage and attitude studies, so that it could develop or revamp products, marketing material and services .

Provided marketing support to sales teams through effective collaterals to create good sales pitches for enhanced customer experience

Developed sales enablers and reworked sales tools to better align sales process to customer needs

Aided the recruitment process for life advisors by developing customized recruitment kits for different channels that aligned to needs specific to that channel

HUMAN RESOURCES

Your Company’s Human Resource department has been, for a fifth year in a row, re-certified with ISO certification. Last year, your Company has successfully completed restructuring exercise across major zones in the organization, which has led to productivity improvement besides rationalization of managerial spans, and better role clarity across various levels. Restructuring was supported by a rigorous execution discipline frame work. In recognition ofitsefforts,yourcompanywasawardedthe‘ExecutionExcellenceAward2013-14’forthebestexecutionfor4DXinIndiabyFranklinCovey.


Your company also augmented this transformation initiative through robust Sales training processes and by building managerial skills in the areas of team and people leadership. Your company has adopted a Lean Problem solving approach to bring about process improvement and effective problem solving across various parts of the organization.

INFORMATION TECHNOLOGY

Several initiatives have been taken to empower distribution channels to achieve growth, improve persistency, to enhance customer service and improve process efficiency. Key initiatives undertaken by your company include:

Implementation of ‘KARMA’, an execution management system

Implementation of web and mobile compatible Lead Management System for Sales Managers and Life Advisors

New and robust e-insurance portal, and a new portal for Group customers

In order to ensure risk-free infrastructure, your company’s data security backbone have been augmented with additional tools such as Data Leak Prevention and Document Rights Management.

Inrecognitionofitseffortsinusingtechnologytomaketransformativechangestobusiness,yourcompanywasawardedtheEMCTransformationalAward for the implementation of end-user data protection using Avamar technology.

OPERATIONS AND CUSTOMER SERVICE

Regulatory changes in the Product Guidelines necessitated changes in systems and operations. In addition to making these changes seamlessly during the year, your company has also implemented several measures to improve service to our customers. These measures include:

1. Remodelling of close to 50 branches to improve customer experience at the branch, including having specially demarcated areas to receive and seat customers, dedicated customer meeting and interaction rooms, dedicated customer information boards and writing ledges, priority service to elderlycustomersandladycustomerswithchildren,andwelltrainedanddedicatedBranchOperationsExecutivesforservingcustomersbetter

2. Implementation of a fund benchmarking tool to help customer service executives resolve fund related queries from customers and implementation of a Retention Business Illustration tool.

3. Phased rollout of pre-conversion verification calling system to ensure customer need alignment to product features and to facilitate Know Your Customer (KYC) compliance.

4. Shifting most paper based communication to electronic mode, and actively pursuing customers to opt for the same, to ensure quick and effective delivery of customer communication and faster resolution of customer queries

A testimony of its standing among customers, your company was adjudged the most trusted private life insurer in the Business world Most Trusted Companies Survey 2013.

COMPLIANCE AND INTERNAL CONTROL

The Compliance function is not only the custodian of Regulatory framework but also counsels other functions within the Company on the changing Regulations and their implications within the Industry. During the Financial year all Regulatory changes were implemented in a seamless and time bound manner.

Your Company has a Compliance Policy and Risk Management framework in place, in order to mitigate risks across various functions of the Company and suitable measures are taken to proactively manage risks at all levels. Compliance processes of your Company are also complemented by an independent audit conducted across various functions. As part of good Corporate Governance, the Audit Committee reviews findings of Internal Auditors who report directly to the Audit Committee.

INVESTMENTS

Your Company manages its investments within the overall framework laid down by the Investment Policy and provisions of IRDA Investment Regulations, 2000 and Insurance Act, 1938. The Investment function works under the overall supervision of Investment Committee of the Board. Your Company has implemented systems to help in analysis of investment portfolio, which acts as an enabler to the front-end Investment team in asset allocation and stock selection. Further, your Company has well-staffed Investment team which has been structured for effective function and independent checks to constantly monitor investment performance and analysis.

The total Assets under Management for the Traditional and Unit Linked Funds was ` 12,104 crores as at March 31, 2014 as against ` 10,964 crores as at March 31, 2013 registering a growth of 10% over the previous year. Financial Year 2013- 2014 was volatile for Financial Markets. During the year 10 year benchmark Government Security yield has gone up from 7.95% as at March 31, 2013 to 8.80% as at March 31, 2014 and has seen a high and low of 9.23% and 7.11% respectively, while the NIFTY has gone up from 5,683 as at March 31, 2013 to 6,704 as at March 31, 2014 with a high of 6,730 and low of 5,119 during the year.


RURAL AND SOCIAL SECTORS

During the year, your Company wrote 33944 policies (Previous year – 36091) in the rural sector representing 21.2 % (Previous year – 21.3 %) of the total policies. This is against the Regulatory requirement as per the IRDA (Obligations of Insurers to Rural and Social Sectors) Regulations, 2002 that 20% (Previous year – 20%) of the total policies written in a financial year should be from the rural sector. Outperforming the Regulatory requirement of covering 55,000 lives in the social sector, your Company covered 1352611 lives (Previous year - 509279 lives). Your Company approaches its rural and social sector targets with a deep sense of duty and responsibility towards the society.

CORPORATE GOVERNANCE

Your Company has consciously endeavoured to follow the policy of transparency and accountability and holds the interest of its stakeholders paramount. Your Company has implemented the requirement of Corporate Governance circular issued by IRDA. (Note: A separate section pertaining to Corporate Governance compliance is appended to this document).

BOARD OF DIRECTORS AND COMMITTEES

AsonMarch31,2014,yourCompanyhasnineDirectorsonitsBoard.EightoftheDirectorsareNon-Executive,outofwhichthreeareIndependentDirectors.TheChairmanoftheBoardholdsaNon-ExecutivepositionandChairmanofAuditCommitteeisanIndependentDirector.

Mr. Dipak Gupta, Director of your Company, is liable to retire by rotation at the ensuing Annual General Meeting of your Company. Mr. Dipak Gupta, being eligible, offers himself for re-appointment.

The detailed composition of the Board and various Committees along with the list of meetings held, are disclosed as part of the annexed report on Corporate Governance.

During the year, Mr. David Buenfil, representing Old Mutual Plc., was appointed as a Director.

AUDITORS

CNK & Associates LLP (formerly M/s Contractor, Nayak & Kishnadwala), Chartered Accountants and Walker Chandiok & Co. LLP Chartered Accountants, theJointAuditorsofyourCompany,holdofficeuntiltheconclusionoftheensuingAnnualGeneralMeetingofyourCompany.CNK&AssociatesLLPhave advised that owing to prior commitments they would not be seeking reappointment. It is therefore proposed to appoint M/s S.B. Billimoria & Co. as one of the joint auditors in place of CNK & Associates LLP. Walker Chandiok & Co. LLP being eligible, have offered themselves for reappointment. ShareholdersarerequestedtoconsiderappointmentofS.B.Billimoria&Co.andWalkerChandiok&Co.LLPasJointStatutoryAuditorsoftheCompanyin the ensuing Annual General Meeting.

MANAGEMENT REPORT

Pursuant to the provisions of Regulation 3 of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002, the Management Report forms a part of the financial statements.

STATUTORY INFORMATION

PUBLIC DEPOSITS:

During the period under review, your Company has not accepted any deposits from the public.

PARTICULARS OF EMPLOYEES:

TheinformationrequiredunderSection217(2A)oftheCompaniesAct,1956,readwiththeCompanies(ParticularsofEmployees)Rules,1975formspart of the Annual Report and any shareholder interested in obtaining a copy of the said annexure may write to the Company Secretary at the Registered Office of the Company. The Company shall then send the information to the concerned shareholder (s) who seeks such information.

PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND EXPENDITURE:

1. Conservation of Energy and Technology Absorption

The particulars in the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 pertaining to conservation of energy do not apply to life insurance industry and hence are not applicable.

Information Technology

Your Company leverages information technology as a strategic tool to gain competitive advantage and to improve productivity and efficiency of the organisation. Our platforms are designed to service scale and are capable of handling high customer and transaction volumes. We have used technology to deliver process improvements, innovation and to add value to our services to the customers.


2. Foreign Exchange Earnings and Expenditure

(` in Crores)

Particulars 2013-14

ForeignExchangeearned 5.63

ForeignExchangeexpenditure 14.04

DIRECTORS’ RESPONSIBILITY STATEMENT

Based on representations from the Management, your Directors state, in pursuance of Section 217(2AA) of the Companies Act, 1956, that:

a. Your Company has, in the preparation of the annual accounts for the year ended 31st March, 2014, followed the applicable accounting standards alongwith proper explanations relating to material departures, if any;

b. The Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of your Company as at 31st March, 2014, of the surplus in the Revenue Account and the -profit in the Profit and Loss Account of your Company for the financial year ended 31st March, 2014;

c. The Directors have taken proper and sufficient care to the best of their knowledge and ability, for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities; and

d. The Directors have prepared the annual accounts on a going concern basis.

ACKNOWLEDGEMENTS

The Directors thank the Insurance Regulatory and Development Authority for its continuous support. The Directors are grateful for the continued faith that the policyholders have reposed. The Directors acknowledge the support extended by their shareholders and express their appreciation of employees for their efforts, teamwork and professionalism.

For and on behalf of the Board of Directors

Uday KotakChairman

MumbaiApril 25, 2014


Management Report for the year ended March 31, 2014

In accordance with the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002, the Board of Directors presents its Management Report for the year ended March 31, 2014.

1. Validity of Registration: Your Directors confirm that the registration granted to the Company by the Insurance Regulatory and Development Authority is valid on this date.

2. Statutory Dues: Your Directors certify that all the dues payable to the statutory authorities have been duly paid.

3. Shareholding pattern: Your Directors confirm that the shareholding pattern and transfer of shares during the year are in accordance with the statutory and regulatory requirements

4. Investment of policyholders’ funds: During the year, your Company has not directly or indirectly invested outside India the funds of the holders of policies issued in India.

5. Solvency margins: Your Directors confirm that the solvency margins as required by regulations prescribed by Insurance Regulatory and Development Authority of India have been maintained.

6. Values of assets: Your Directors certify that the values of all the assets have been reviewed on the date of the Balance Sheet and that the assets set forth in the Balance Sheet are shown in the aggregate at amounts not exceeding their realisable or market value under the several headings – “Loans”, “Investments”(except fixed income securities held in the Shareholders’ account and non-linked Policyholders’ account which are carried at amortised cost as indicated in this paragraph), “Agents balances”, “Outstanding Premiums”, “Interest, Dividends and Rents outstanding”, “Interest, Dividends and Rents accruing but not due”, “Amounts due from other persons or bodies carrying on insurance business”, “Sundry Debtors”,” Bills Receivable” “Advances and other assets”, “ Cash” and the several items specified under “Other Accounts.”

All debt securities held under Shareholder and Non Linked Policyholder investments are considered as ‘held to maturity’ for the purpose of valuation and are accordingly stated at historical cost i.e. at net amortized cost in the Balance Sheet. As at March 31, 2014 the market value of these investments are lower by ` 1,988,418 thousand. The lower market value is attributable to the rise in yields since their purchase.

7. Application of life insurance funds: Your Directors certify that no part of the life insurance fund has been directly or indirectly applied in contravention of the provisions of the Insurance Act, 1938 (4 of 1938) relating to the application and investment of the life insurance funds.

8. Risk exposure: Your Company recognises the risks associated with the life insurance business and plans to manage it by adopting prudent policies commensurate with the needs of the life insurance business. The key risks affecting the operations of the Company are underwriting risks, investment risks and operational risks.

The underwriting risk is managed by the Company’s underwriting function and further by establishing reinsurance treaties with various reinsurance companies. All risks above the pre-determined retention limits are reinsured.

The investment risk is managed by creating a portfolio of different asset classes and of varied maturities so as to spread the risk across a wide category of investee companies. Your Company has constituted an Investment Committee of the Board of Directors, which acts as the policy making body for the investment operations. The Investment Committee lays down various internal policies and norms governing the functioning of the Investment Department. The investment strategy framed is kept appropriate to the underlying liabilities of the policyholders. The Investment Committee periodically discusses the investment strategy, portfolio structures, performance of the portfolio and other issues relating to the investment portfolio. This is then approved by the Board of Directors. The Investment Committee has in turn constituted the Asset & Liability Management Committee (ALM) and Credit Committee. The Asset & Liability Management Committee (ALM) reviews the Asset Liability Management Strategy, Investment Risk Management Strategy and other related risks periodically. The Credit Committee approves the credit limit for each Investee Company and approves the initial investment in any company. The committee also does a periodical review of the existing exposure of debt investments in other companies.

ThecompanyhasestablishedaRiskManagementFrameworktomanage,controlandmitigateoperationalrisks.Eachfunctionisrequiredtoensurethat all processes are documented, process risks are identified and that steps are taken to mitigate identified operational risks. An independent risk management function, in turn, reviews the risks identified, the effectiveness of the operational controls and ensures that risk mitigation steps suggested are implemented. Operational risks are also mitigated by audits conducted by an independent internal audit team, and an independent concurrent audit team for the investment function. The Risk Committee meets at periodic intervals and lays down and reviews various internal policies and norms governing the risk function across the company. The Committee also reviews the top risks, mitigations implemented and progress made by the Risk Management Function.

9. Operations in other countries: Your Directors confirm that during the year ended March 31, 2014, your Company had no operations in other countries.


10. Ageing of claims: Claims registered and not settled

(` in lakhs)

Period Traditional Business Linked Business

Number of Claims Amount Involved Number of Claims Amount Involved

30 days 584 337.62 4451 4462.94

30 days to 6 months 10 79.76

6 months to 1 year 1 7.69

1 year to 5 years 2 12.01 4 0.36

5 years and above 2 4.32 2 0.65

Total 599 441.40 4457 4463.95

Claims remain unpaid for greater than 30 days for want of proof of title or the cause of death or pending other necessary documentation, to determine and discharge the claim liability.

Statement of Age – wise analysis of the Unclaimed Amount of Policyholders in accordance with IRDA circular no- IRDA/F&I/CIR/CMP/174/11/2010 dated 04-11-2010 has been disclosed under Note 16 - 27 of the audited Financial Statements for the year ended March 31, 2014.

11. Valuation of investments:

For the Shareholders’ and non-linked policyholders’ investments your company considers its debt securities as ‘held to maturity’ and measures them at amortised cost. Accretion of discount and amortisation of premium relating to debt securities is recognized over the maturity period on internal rateofreturnbasis.ListedequitysharesasattheBalancesheetdatearestatedattheclosingpriceontheNSE.IfanequityshareisnotlistedortradedontheNSE,theclosingpriceontheBSEisused.Equitysharesawaitinglistingarestatedathistoricalcostsubjecttoprovisionfordiminution,if any. Unrealized gains/ losses arising due to changes in the fair value of listed equity shares are taken to “Fair Value Change Account” and carried forward to Balance Sheet where the net balance is positive. Negative balance in the “Fair Value Change Account” is recognized in the Revenue Account\Profit and Loss Account to the extent of negative balance in “Fair Value Change Account as reduced by the amount previously provided in the Revenue Account\Profit and Loss Account. Investment in the real estate investment property is valued at historical cost plus revaluation, if any. Revaluation of the investment property is done at least once in three years. Any change in the carrying amount of the investment property is accounted to Revaluation Reserve. Impairment loss, if any, exceeding revaluation reserve is recognised as expenses in the revenue/profit and loss account

In respect of the unit-linked business, all securities are valued on a ‘Mark to Market’ basis. The discount on purchase of treasury bills, certificate of deposit, Collateral Borrowing and Lending Obligations (CBLO) and commercial papers are amortized over the period to maturity on internal rate of return basis.

12. Review of asset quality and performance of investment: Your directors confirm that all the investments are performing investments. Your Company has investments in commercial bank fixed deposits and investments in debt securities issued by the Government of India, State Governments, public financial institutions, selected banks and public and private sector undertakings with AA- and above rating / guaranteed by the Government. Shares quotedonIndianStockExchangesandrealestateisalsoapartofyourCompany’sinvestmentportfolio.

13. Responsibility Statement: Your Directors state that:

(a) In the preparation of financial statements, the applicable accounting standards, principles and policies have been followed;

(b) The accounting policies have been adopted and applied consistently and the judgements and estimates made are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the year and of the surplus under the Revenue Account and of the profit in the Profit and Loss Account for the year ended March 31, 2014;

(c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the applicable provisions of the Insurance Act 1938 (4 of 1938) / Companies Act, 1956 (1 of 1956), for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The financial statements are prepared on a going concern basis;

(e) An internal audit system commensurate with the size and nature of the business exists and is operating effectively.


14 Schedule of payments made to individuals, firms, companies and organizations in which the Directors are interested:

Your Company has made the following payments to individuals, firms, companies and organizations in which the Directors are interested:

Sr. No.

Name of the Director/s Entity in which Director is interested Interested As

Expense during the financial year

( ` in lakhs)

1 Mr. Uday Kotak, Mr. Dipak Gupta Mr. Prakash Apte

Kotak Mahindra Bank Ltd Director 7987.90

2 Mr. Uday Kotak Kotak Securities Ltd Director 184.84

3 Mr. Uday Kotak, Mr. Dipak Gupta

Kotak Mahindra Prime Ltd Director 5.85

4 Mr. Uday Kotak, Mr. Gaurang Shah

Kotak Mahindra Asset Management Company Ltd Director 3.84

5 Mr. Gaurang Shah,Mr. G. Murlidhar

Kotak Life Insurance Superannuation Fund Trustees 17.50

Total 8199.93

For and on behalf of Board of Directors

Uday Kotak G. Murlidhar

Chairman Managing Director

Mumbai

April 25, 2014


Report on Corporate GovernanceThe Corporate Governance Report, as per the provisions of Insurance Regulatory and Development Authority’s (IRDA) Guidelines on Corporate Governance is as under:

BOARD OF DIRECTORS AND COMMITTEES

Composition, Meeting and Attendance

The composition of the Board of Directors and its Committees are governed by the Insurance Act, 1938 and Corporate Governance Guidelines issued byIRDA.AsonMarch31,2014,yourCompanyhasnineDirectorsonitsBoardofwhomeightareNon-ExecutiveDirectorsandthreeamongstthemareIndependentDirectors.TheChairmanoftheBoardholdsaNon-Executiveposition.TheChairmanoftheAuditCommitteeisanIndependentDirector.The responsibilities of the Board inter-alia include monitoring of compliance with relevant laws, regulations, code of conduct, formulating various policies of the Company, strategic guidance for implementation of business policy, structure a management information system for review and recourse, define standards for conduct of business, servicing of policyholders, grievance redressal and risk management.

A brief profile of the Directors as on March 31, 2014, along with the other Directorships and Committee Membership held by them are given hereunder:

1. Mr. Uday Kotak- Non-Executive Chairman

Mr.UdayKotak, aged55 years, holds aBachelors degree inCommerce andanMBA from Jamnalal Bajaj InstituteofManagement Studies,Mumbai.HeistheExecutiveVice-ChairmanandManagingDirectorofKotakMahindraBankLimitedanditsprincipalfounderandpromoter.UnderMr.Kotak’s leadership, over the past 28 years, Kotak Mahindra group has established a prominent presence in every area of financial services from stock broking, investment banking, car finance, life insurance and mutual funds. Mr. Kotak is the recipient of several prestigious awards. He is a memberoftheGovernmentofIndia’shighlevelcommitteeonFinancingInfrastructure,thePrimaryMarketAdvisoryCommitteeofSEBI,MemberoftheBoardofGovernorsofIndianCouncilforResearchonInternationalEconomicRelations,NationalInstituteofSecuritiesMarketsandNationalCouncil of CII. He is also a Governing Member of the Mahindra United World College of India.

He is also on the Board of Kotak Mahindra Asset Management Company Limited, Kotak Mahindra Capital Company Limited, Kotak Mahindra Prime Limited, Kotak Mahindra Investments Limited, Kotak Forex Brokerage Limited and Kotak Securities Limited.

Mr. Uday Kotak is also a member of the Investor Relations (Shareholders’/Investors’ Grievance) Committee of Kotak Mahindra Bank Limited, Chairman of the Audit Committees of Kotak Mahindra Capital Company Limited and Kotak Securities Limited and member of the Audit Committee of Kotak Mahindra Asset Management Company Limited.

2. Mr. Shailesh Devchand- Non Executive Vice Chairman

Mr. Shailesh Devchand (B.Sc., F.I.A), a South African of Indian origin, is by profession a qualified Actuary through the Institute of Actuaries in London (1998). His career spans over 20 years in the financial services industry across several roles ranging from Development Actuary at Liberty Group inSouthAfrica, toSeniorConsultantandCountryExecutiveMalaysia foraSingapore-basedactuarialanddistributionconsultingfirm. Mr.Devchandspent4yearsinAsiauntiltheendof2003onvariousconsultingassignmentsacrossSouthEastAsiaforseveralLifeandGeneralinsurers as well as regulatory bodies.

His earlier experience includes group employee benefits, Life and Group Product Development, valuation and reserving sign offs, corporate strategy and business development as well as distribution channel development and economics. Mr. Devchand joined Old Mutual Group on his return to South Africa in 2004 to take on a role as Head of Business Development for Old Mutual South Africa focussing on alternative distribution. He laterplayedaroleasExecutivewithinOldMutual’sRetailMassandFoundationClusterbusinessasChiefOperatingOfficer-FoundationMarket. Mr.DevchandcurrentlyholdstheroleofDirector–AsianMarketsforOldMutual’sEmergingMarketsbusiness.

Mr. Shailesh Devchand is the member of Investment and Audit Committee of the Company and is also the Vice Chairman of the Board of Directors.

3. Mr. Shivaji Dam- Independent Director

Mr. Shivaji Dam, B.Com, ACMA, ACA, ACS, has a strong accounting and cost accounting background with over 30 years’ experience of which 21 years have been with the Kotak Group. He has experience in fields such as Corporate Finance, Proprietary Investments, Investment Banking and operating management within the Kotak Group. He is one of the founding Directors of the Company. He led the Kotak group into the life insurance business and was Managing Director of the Company for four years.

He is member of the Audit Committee and Chairman of the Banking Committee,Remuneration Committee, With Profits Committee and Policyholder Protection Committee of the Company. Mr. Dam is also on the Board of Kotak Mahindra Trusteeship Services Limited & Kotak Mahindra Pension Fund Limited.

Mr. Dam is presently involved in philanthropic activities around education and livelihood for children /youth from under privileged families.


4. Mr. Vineet Nayyar- Independent Director

Mr.VineetNayyaristheExecutiveViceChairmanofTechMahindra.

An accomplished leader with decades of experience, he has led several organizations across industries, creating high performance teams and successful businesses. In a career spanning over 40 years, Mr. Nayyar has worked with the Government of India, international multilateral agencies and in the corporate sector (both public and private).

He started his career with the Indian Administrative Service and held a series of senior positions, including that of a District Magistrate, Secretary -Agriculture&RuralDevelopment for theGovernmentofHaryana andDirector,Departmentof EconomicAffairs,Governmentof India.Healsoworkedwith theWorldBankforover10years inaseriesofseniorassignments, includingsuccessive termsas theChief for theEnergy,InfrastructureandtheFinanceDivisionsforEastAsiaandPacific.

Mr. Nayyar was also the founding Chairman and Managing Director of the state-owned Gas Authority of India and has served as the Managing DirectorofHCLCorporationLtd.,andastheViceChairmanofHCLTechnologiesLtd.Hewasalsoaco-founderandChiefExecutiveOfficerofHCLPerot Systems. He received a master’s degree in development economics from Williams College, Massachusetts.

In addition to his responsibilities at Tech Mahindra, his principal directorships include his serving as a director on the boards of Venturbay Consultants Private Limited, Mahindra Logisoft Business Solutions Limited, Tech Mahindra (Thailand) Limited, Tech Mahindra (Beijing) IT services Limited,MahindraHolidaysandResortsIndiaLimited,MahindraUnitedWorldCollegeofIndia,TheGreatEasternShippingCompanyLimited,Greatship(India)Ltd,VidyaInvestmentsPrivateLimited,VidyaEducationInvestmentPrivateLimited,MauryaEducationCompanyPrivateLimited,TechMahindra(Americas)Inc,TechMahindraFoundation,EsselSocialWelfareFoundation(formerly-HPSSocialWelfareFoundation).

HeservesasChairmanofSupervisoryBoardofTechMahindraGmbH.HeisalsoatrusteeofVidyaEducationFoundation,CathedralVidyaTrustandMahindraEducationFoundation.

Mr.NayyaralongwithMr.CPGurnaniwasrecognizedwiththeErnstandYoungEntrepreneuroftheyear(Manager)AwardinFebruary2014.

5. Mr. Prakash Apte- Independent Director

Mr.PrakashApte,BachelorofEngineeringfromPuneUniversity&PGDMfromMumbaiUniversity,hasbeentheManagingDirectorofSyngentaIndiaforadecade& iscurrently itsNon-ExecutiveChairman.Syngenta IndiaLimited isoneofthe leadingagribusinesscompanies in India&Syngenta Group is one of the largest investor in agriculture research and a leading agri business across the world.

Mr. Apte in a career spanning over 34 years has considerable experience in various areas of management and business leadership. In the first phase of his career, Mr. Apte worked in Larsen & Toubro, Uhde India and in Ciba Geigy in various positions of responsibility in the project management and technical operations. While in Ciba and later on in the merged entity Novartis, Mr. Apte assumed the role as a business head. When Syngenta was formed resulting from merger/demerger of Agri businesses belonging to Astra Zeneca and Novartis, Mr. Apte took over the responsibility as Managing Director & Country President for Syngenta in India.

During more than 16 years of very successful leadership of Syngenta business in India, Mr. Apte has gained varied knowledge in various aspects of business such as vision & strategy development, business integration & transformation, operation excellence etc. and he has been involved with many initiatives for organizational capability up gradation, coaching & people development.

Mr. Apte was instrumental in setting up the Syngenta Foundation India which focuses on providing knowledge and support for adopting scientific growing systems to recourse poor farmers and enabling their access to market.

ApartfrombeingNon-ExecutiveChairmanofSyngentaIndia,Mr.AptealsoservesontheBoardofaprivatesectorBank.

6. Mr. Dipak Gupta- Non Executive Director

Mr.DipakGupta,B.E.(Electronics),PGDM-IIM,Ahmedabad,isaNon-ExecutiveDirectoroftheCompanyandhasover28yearsofexperienceinthe financial services sector, 22 years of which have been with the Kotak Group. He is responsible for Group HR, Admin, Infra, Operations and IT. He is also responsible for Asset Reconstruction Business of the Bank.

Mr. Dipak Gupta is the Chairman of Investment Committee and a member of the Audit Committee of the Company.

Mr. Dipak Gupta was responsible for leading the Kotak Group’s initiatives into the banking arena. Prior to joining the Kotak Group, he was with A. F. Ferguson & Company for approximately six years. He is on the Board of Kotak Mahindra Bank Limited, Kotak Mahindra Prime Limited, Kotak Forex Brokerage Limited, Kotak Mahindra Capital Company Limited and Kotak Mahindra Investments Limited.

7. Mr. Gaurang Shah- Non Executive Director

Mr. Gaurang Shah heads the Life Insurance, Asset Management and the International business of the Kotak Mahindra Group. He took over this assignment on May 1, 2010.

In his immediate prior assignment, Mr. Shah was the Managing Director of Kotak Mahindra Old Mutual Life Insurance Limited. Under his stewardship, the Company booked profits for the first time ever in 2009, joining ranks of the select first private Indian life insurers to book profits, thereby opening a new chapter in the annals of private life insurance business in India.


Mr. Shah has over 30 years of rich and varied experience in the Financial Services sector, several of which are with the Kotak Mahindra Group. He has played a stellar role in building the Group’s Consumer Banking business and Life insurance business.

He has held several positions of high responsibility over the years, including, inter alia, the Head of Retail Assets at Kotak Mahindra Bank Limited. He was also closely associated with Kotak Mahindra Primus (a joint venture between Kotak Mahindra Group and Ford Credit International), among India’s leading automobile finance companies.

Mr. Shah is a Chartered Accountant, Company Secretary and Cost Accountant.

He is a member of the Investment Committee and the With Profits Committee and Chairman of Asset Liability Committee and Risk Management Committee of the Company.

8. Mr. G. Murlidhar- Managing Director

Mr.MurlidhartookchargeasManagingDirectorinJune2011.Mr.MurlidharisafoundermemberoftheCompany,and,hasservedtheCompanyin various capacities of increasing responsibility over the years. In his immediate prior assignment, he was the Company’s Chief Operating Officer, where he was instrumental in establishing a strong operations and service backbone for the Company.

Mr. Murlidhar has a distinguished professional career spanning more than three decades across functional areas such as Finance, Commercial, Projects, Marketing, HR, IT, Consumer distribution. He has also handled public issues and open offers across sectors such as BFSI, Services and Manufacturing.

Mr. Murlidhar is a Chartered Accountant, Company Secretary and Cost Accountant.

9. Mr. David Buenfil- Non Executive Director

Mr. David Buenfil joined Skandia Mexico as Commercial Director, developing the company´s product, and sales strategy since inception. In 2007, hewaspromotedtoChiefExecutiveOfficerMexico,andlaterin2009,healsotookresponsibilityfortheSkandiabusinessesinColombia,andthegrowthstrategyforOldMutualinLatinAmerica.In2013,Mr.BuenfilwasnamedChiefExecutiveOfficerforLatinAmerica,andAsiaaspartoftheOldMutualEmergingMarketsExecutiveCommittee.

Mr.BuenfilobtainedanundergraduatedegreewithHonorsinElectricalEngineeringatKetteringUniversityandlaterobtainedanMBA,fromtheWharton School, and an M.A. in International Studies from the lauder Institute at the University of Pennsylvania.

Prior to joining Skandia (OldMutual) in 2002, his experiences include being the Director for DFJ Americas Fund, Being a founding partnerin Vidalink do Brasil, a Pharmacy Benefit Management company; and was the Country Manager for Mexico at Haden Inc., a supplier to the automotive industry. Other professional experiences include, being a consultant at Booz Allen & Hamilton in Brazil, and a manufacturing engineer for General Motors in the USA, Mexico, and Germany.

10. Mr. Sunil Sharma (Alternate Director to Mr. Shailesh Devchand)

Mr. Sunil Sharma (MSc, FIAI, FIA) is an Actuary by profession, qualified through the Institute of Actuaries of India (IAI) and is also a Fellow of Institute and Faculty of Actuaries (IFA), UK. He joined the Company in March 2012 and is currently the Appointed Actuary and Chief Risk officer of the Company.

Mr.Sharmahasmorethan24yearsofexperienceintheareasofLifeandHealthdirectInsuranceandreinsurancebusinessglobally.HisExperienceinclude Product Development, experience analysis and feedback into pricing process, Group business Management, Life & Health reinsurance pricing, reinsurance Treaty Agreements, Client Management, Statutory reserving, Shareholder’s Valuation, Risk and capital Management and the management of with profit business.

Mr. Sharma started his career in LIC, 24 years back where he gained significant experience in the area of Individual and group Business Management. HeplayedamajorroleintheareaofproductDevelopmentinGEFinancialAssurancebasedoutofRichmond,USAandlaterhewasinstrumentalinsettinguptheActuarialCOEinGEIndia.HeplayedakeyActuarialManagementroleinSwissReformorethansevenyear’stenureinIndia,SingaporeandUKMarkets.BeforeJoiningtheCompany,Mr.SharmawasHeadofActuarialinICICIPrudentialLifeInsuranceLtd.

Mr. Sharma is a member of the Investment Committee, Risk Management Committee, Asset Liability Management Committee and Policyholder Protection Committee of the Company.

Composition of the Board of Directors and the Committee positions held by Directors as on 31st March 2014

Name Position on the Board

Audit Committee

Investment Committee

Risk Management Committee

Asset Liability Management Committee

Policyholder Protection Committee

With Profits Committee

Remuneration Committee

Mr. Uday Kotak Chairman - - - - - - Member

Mr. Shailesh Devchand Vice Chairman Member Member - - - - Member

Mr. Shivaji Dam Independent Director

Chairman - - - Chairman Chairman Chairman


Name Position on the Board

Audit Committee

Investment Committee

Risk Management Committee

Asset Liability Management Committee

Policyholder Protection Committee

With Profits Committee

Remuneration Committee

Mr. Vineet Nayyar Independent Director

- - - - - - -

Mr. Prakash Apte Independent Director

- - - - - - -

Mr.Dipak Gupta Non-ExecutiveDirector

Member Chairman - - - - Invitee

Mr. Gaurang Shah Non-ExecutiveDirector

Invitee Member Chairman Chairman - Member Invitee

Mr. David Buenfil (w.e.f. April 29, 2013)

Non-ExecutiveDirector

- - - - - - Invitee

Mr. G. Murlidhar Managing Director

Invitee Member Member Member Member Member Invitee

Mr.SunilSharma(w.e.f.January30, 2014)

Alternate Director to Mr. Shailesh Devchand

Invitee Member Member Member Member Member

BOARD MEETINGS

During the year, under review, four Board Meetings were held. The Meetings were held on April 29, 2013, August 02, 2013, October 23, 2013 and January31,2014.

The details of attendance of Directors at the Board meetings are as follows:

Directors No. of meetings held during the tenure of the Member

No. of meetings attended

Mr. Uday Kotak 4 4

Mr. Shailesh Devchand 4 3

Mr.Shivaji Dam 4 4

Mr. Vineet Nayyar 4 -

Mr. Prakash Apte 4 4

Mr.Dipak Gupta 4 4

Mr. Gaurang Shah 4 4

Mr. David Buenfil (w.e.f. April 29, 2013) 4 2

Mr. G. Murlidhar 4 4

Mr.SunilSharma(w.e.f.January30,2014) 1 1

DIRECTORS’ REMUNERATION

Elements of Remuneration package of Individual Directors for the year ended March 31, 2014

(` in ‘000)

Name of Director Sitting Fees Salaries & Allowances

Perquisites Company’s contribution

to PF

Commission Total

Mr. Uday Kotak - - - - - -

Mr. Shailesh Devchand - - - - - -

Mr.Shivaji Dam 80 - - - - 80

Mr. Vineet Nayyar - - - - - -


(` in ‘000)

Name of Director Sitting Fees Salaries & Allowances

Perquisites Company’s contribution

to PF

Commission Total

Mr. Prakash Apte 40 - - - - 40

Mr.Dipak Gupta - - - - - -

Mr. Gaurang Shah - - - - - -

Mr.David Buenfil(w.e.f. April 29, 2013)

- - - - - -

Mr. G. Murlidhar - 15918 - 2149 - 18067

Mr. Sunil Sharma (w.e.f. January30,2014)

- - - - - -

COMMITTEES OF THE BOARD OF DIRECTORS

The Board has constituted several committees and delegated various functions and responsibilities to such Committees, as mandated by the Corporate Governance Guidelines issued by IRDA. The details of the various Committees are as under:

1. AUDIT COMMITTEE

TheAuditCommitteeoftheCompanycomprisesof3Non-ExecutiveDirectors.TheChairmanoftheCommitteeisanIndependentDirector.Theterms of reference of the Audit Committee are as follows:

a. Financial Reporting

• RecommendtheappointmentofStatutoryAuditorsandInternalAuditorsandensurethattheyareindependentbeforerecommendingtheir appointment

• Overseetheexternalauditcoverage

• Reviewaccountingpolicies

• Examinethefinancialstatements,financialreporting,statementofcashflowsanddisclosureonanannualandquarterlybasis

b. Corporate Governance

• Reviewcorporatepoliciesrelatingtocompliancewithlawsandregulations,ethics,conflictofinterestandinvestigationofmisconductand fraud

• Reviewthescopeandfindingsofinternalaudit

• Investigateanyactivitywithinitstermsofreference

• SeekinformationfromanyemployeeoftheCompany

• Obtainoutsidelegalorotherprofessionaladvice

• Secureattendanceofoutsiderswithrelevantexpertise,ifitconsiderednecessary

• Approvepaymentstostatutoryauditorsforanyotherservicesrenderedbythestatutoryauditors

• Review theannualfinancial statementsbefore submission to theBoard forapproval,withparticular reference todisclosureofanyrelated party transactions

• ReviewthefunctioningoftheWhistleBlowerPolicyoftheCompany

c. Corporate Control

• Overseetheinternalauditfunction

• Reviewandapprovetheinternalauditresources,plansandbudgets

• Reviewauditreports,preparedbyInternalandStatutoryAuditorsandspecialauditinvestigations

• Reviewreliabilityandintegrityoffinancialandoperationinformation

• Reviewoperatingcontrolsystemsestablishedtoensurecompliancewithpolicies,plans,procedures,lawsandregulations

Any other matter relating to Audit, Internal Control, Internal Audit or related matter which may be referred by the Board to the Committee.


Duringtheyearunderreview,fourmeetingsoftheCommitteewereheldonApril26,2013,August01,2013,October22,2013andJanuary31,2014.

The details of the attendance of the Members at the Committee meetings are as follows:

Name of Member of the Committee No. of meetings held during the tenure of the Member

No. of meetings attended by the Member

Mr.Shivaji Dam (Chairman w.e.f. April 24.2013) 4 4


Mr.Dipak Gupta 4 4

2. INVESTMENT COMMITTEE

TheInvestmentCommitteeoftheCompanycomprisesof3Non-ExecutiveDirectors,theManagingDirector,theChiefInvestmentOfficer,theChief Financial Officer and the Appointed Actuary. The terms of reference of the Investment Committee are as follows:

• TheCommitteeshallberesponsibleforlayingdownanoverallinvestmentpolicyandoperationalframeworkfortheinvestmentoperationsof the insurer. The policy should focus on a prudential Asset Liability Management (ALM) supported by robust internal control systems. The Investment policy and operational framework shall inter alia encompass aspects concerning liquidity for smooth operations, compliance with prudential regulatory norms on investments, risk management/mitigation strategies to ensure commensurate yield on investments and above all protection of the investments based on the performance of investments and the evaluation of dynamic market condition.

• TheMembersoftheCommitteeshallnotbesolelyinfluencedbythecreditratingagencies.TheCommitteeshallindependentlyreviewtherequirement to be carried out by the Investment Team.

• TheCommitteeshallalsoputinplaceaneffectivereportingsystemtoensurecompliancewiththepolicysetoutbyitapartfromInternal/Concurrent Audit mechanisms for a sustained and on going monitoring of Investment Operations.

• TheCommitteeshallfurnishareporttotheBoardontheperformanceofInvestmentsatleastonaquarterlybasisandprovideanalysisofitsInvestment portfolio and on the future outlook to enable the Board to look at possible policy changes and strategies.

Duringtheyearunderreview,fourmeetingsoftheCommitteewereheldonApril26,2013,August01,2013,October22,2013andJanuary30,2014.




Mr.Dipak Gupta (Chairman) 4 4


Mr. Gaurang Shah 4 4

Mr. G. Murlidhar 4 4

Mr. Sunil Sharma (Appointed Actuary) 4 4

Mr. Sudhakar Shanbhag (Chief Investment Officer) 4 4

Mr. Cedric Fernandes (Chief Financial Officer) 4 4

3. RISK MANAGEMENT COMMITTEE

TheRiskManagementCommitteecomprisesofoneNon-ExecutiveDirector(Chairman),theManagingDirector,theAppointedActuary,HeadofOperations, Head of Compliance and the Chief Financial Officer. The terms of reference of the Committee include:

• AssisttheBoardineffectiveoperationoftheriskmanagementsystembyperformingspecialisedanalysisandqualityreviews

• Maintainingagroup-wideandaggregatedviewontheriskprofileoftheinsurerinadditiontothesoloandindividualriskprofile

• ReporttotheBoarddetailsontheriskexposuresandtheactionstakentomanagetheexposures

• Advise theBoardwith regard to riskmanagementdecisions in relation to strategic andoperationalmatters suchas corporate strategy,mergers & acquisitions and related matters


Duringtheyearunderreview,fourmeetingsoftheCommitteewereheldonApril18,2013,July19,2013,October17,2013andJanuary24,2014.




Mr. Gaurang Shah (Chairman) 4 2

Mr. G. Murlidhar (Managing Director) 4 4


Mr. Hitesh Veera (Head - Operations) 4 4

Mr. R. Mahesh Kumar (Compliance Officer) (upto May 31, 2013)

1 1


Mr. C. Muralikrishna (Compliance Officer) 1 1

4. ASSET LIABILITY MANAGEMENT COMMITTEE

TheAssetLiabilityManagement(ALM)CommitteecomprisesofaNon-ExecutiveDirector(Chairman),theManagingDirector,theChiefFinancialOfficer, the Chief Investment Officer and the Appointed Actuary. The terms of reference of the Committee are as follows:

• SettingtheCompany’srisk/rewardobjectivesandassesspolicyholderexpectations

• Quantifyingthelevelofriskexposureandassessingtheexpectedrewardsandcostsassociatedwiththeriskexposure

• FormulatingandimplementingoptimalALMstrategiesandmeetingrisk/rewardobjectives.Thestrategiesmustbelaiddownbothatproductlevel and enterprise level

• Layingdowntherisktolerancelimits

• MonitoringriskexposuresatperiodicintervalsandrevisingALMstrategieswhererequired

• PlacingtheALMinformationbeforetheBoardatperiodicintervals

Duringtheyearunderreview,fourmeetingsoftheCommitteewereheldonJune27,2013,October03,2013,December06,2013andMarch28, 2014.




Mr. Gaurang Shah (Chairman) 4 4

Mr. G. Murlidhar(Managing Director) 4 4


Mr. Sudhakar Shanbhag (Chief Investment Officer) 4 4


5. POLICYHOLDER PROTECTION COMMITTEE

The Policyholder Protection Committee comprises of an Independent Director (Chairman), the Managing Director, the Appointed Actuary, the Head of Distribution (Individual Business) and the Head of Marketing. The terms of reference of the Committee include:

• Puttinginplaceproperproceduresandeffectivemechanismtoaddresscomplaintsandgrievancesofpolicyholdersincludingmis-sellingbyintermediaries

• EnsurecompliancewiththestatutoryrequirementsaslaiddownintheRegulatoryframeworkrelatingtopolicyholdersprotection

• Reviewofthemechanismatperiodicintervals

• Ensure adequacy of disclosure of “material information” to the policyholders. These disclosures shall, for the present, complywith therequirements laid down by the Authority both at the point of sale and at periodic intervals

• Reviewthestatusofcomplaintsatperiodicintervalstothepolicyholders


• ProvidethedetailsofgrievancesatperiodicintervalsinsuchformatsasmaybeprescribedbytheAuthority

• Providedetailsofinsuranceombudsmentothepolicyholders

Duringtheyearunderreview,fourmeetingsoftheCommitteewereheldonJuly18,2013,October04,2013,December27,2013andMarch21,2014.




Mr.Shivaji Dam (Chairman) 4 4

Mr. G. Murlidhar(Managing Director) 4 4


Mr. Suresh Agarwal (Head – Distribution) 4 4

Ms.ElizabethVenkataraman(Sr.VicePresident-Marketing) 4 4

ADDITIONAL DISCLOSURES MANDATED BY CORPORATE GOVERNANCE GUIDELINES

A. Financial and operating ratios namely, incurred claim, commission and expenses ratios

Particulars Year endingMarch 2014

Year endingMarch 2013

1) Claims Ratio

a. Claims as % of Total Premium (Claims does not include Surrender, Maturity and Survival Benefits)

7.07% 5.22%

b. Surrender, Maturity and Survival Benefits as % of Total Premium 61.59% 58.94%

2) Commission Ratio

a. New Business Commission as a % of New Business Premium 8.13% 7.71%

b. Total Commission as a % of Total Premium 5.08% 4.31%

3) Expenses Ratio

a. Policy holder expenses as a % of Total Premium (Policy holder expenses includes service tax to the extent borne by the Company)

20.47% 19.21%

b. Ratio of expenses of management (3b = 2b + 3a) (Policy holder expenses includes service tax to the extent borne by the Company)

25.55% 23.52%

B. Actual Solvency margin/RATIO details vis –a-vis the required margin



Actual Solvency Ratio:

With FNRSM 3.02 2.93

Without FNRSM 2.20 2.27

Required Solvency Ratio 1.50 1.50

* FNRSM – Funds Not Required for Solvency Margin

C. CONSERVATION RATIO



Conservation Ratio(Current Year Pure Renewal) / (Previous Year New Business Premium + Previous Year Pure Renewal)

70.62% 71.95%


D. Financial performance including growth rate and current financial position of the insurer

This information is provided under Financial Results section of the Directors’ Report.

E. Description of the risk management architecture

This information forms part of the Management Report.

F. Details of number of claims intimated, disposed off and pending with details of duration

Total Death Claims Summary March 2014 March 2013

Count (` Cr) Count (` Cr)

Claims O/S at Start of Year 82 5.64 188 10.70

Claims Intimated 16736 235.25 11683 180.74

Claims Settled 16422 215.04 11532 167.69

Claims Repudiated 323 19.46 257 18.12

ClaimsO/SfromdateofintimationatEndofYear* 73 6.39 82 5.64

*AgeingforClaimsO/SfromdateofinceptionatEndofYear

Less than 3 months 19 1.55 27 2.73

3 months and less than 6 months 7 0.24 06 0.74

6 months and less than 1 year 12 2.37 10 0.43

1 year and above 35 2.23 39 1.73

Total 73 6.39 82 5.64

G. All pecuniary relationships or transactions of the Non-Executive Directors vis-à-vis the insurer

This information is included in the Management Report.

Certification for compliance of the Corporate Governance GuidelinesI, C. Muralikrishna hereby certify that the Company has complied with the Corporate Governance guidelines for Insurance Companies as amended from time to time and nothing has been concealed or suppressed.

C. MuralikrishnaCompany Secretary & Vice President – Compliance


Independent Auditors’ ReportTo the Members of Kotak Mahindra Old Mutual Life Insurance Limited

Report on the Financial Statements

1. We have audited the accompanying financial statements of Kotak Mahindra Old Mutual Life Insurance Limited (“the Company”) which comprise the Balance Sheet as at March 31, 2014, the related Revenue Account (also called “the Policyholders’ Account” or “the Technical Account”), the Profit and Loss Account (also called “the Shareholders’ Account” or “the Non-Technical Account”) and the Receipts and Payments Account for the year then ended, and notes to the financial statements.

Management’s Responsibility for the Financial Statements

2. Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and the receipts and payments of the Company in accordance with accounting principles generally accepted in India, including the provisions of the Insurance Act, 1938 (“the Insurance Act”), the Insurance Regulatory and Development Authority Act, 1999 (“the IRDA Act”), the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002 (“the IRDA Financial Statements Regulations”) and the Accounting Standards notified under the Companies Act, 1956 (“the Act”) read with the General Circular 15/2013 dated September 13, 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Company’s internal control An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

5. In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Insurance Act, the IRDA Act, the IRDA Financial Statements Regulations, the Act to the extent applicable and in the manner so required, and give a true and fair view in conformity with the accounting principles generally accepted in India, as applicable to Insurance Companies:

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

(b) in the case of Revenue Account, of the net surplus for the year ended on that date;

(c) in the case of Profit and Loss Account, of the profit for the year ended on that date; and

(d) in the case of the Receipts and Payments Account, of the receipts and payments for the year ended on that date.

Report on Other Legal and Regulatory Requirements

6. As required by the IRDA Financial Statements Regulations, we have issued a separate certificate dated April 25, 2014 certifying the matters specified in paragraphs 3 and 4 of Schedule C to the IRDA Financial Statements Regulations.

7. As required by the IRDA Financial Statements Regulations, read with section 227(3) of the Act, we report that:

(a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of an audit and have found them to be satisfactory;

(b) In our opinion and to the best of our information and according to the explanations given to us, proper books of account as required by law have been maintained by the Company, so far as appears from our examination of those books;

(c) As the Company’s financial accounting system is centralized, no returns for the purposes of our audit are prepared at the branches of the Company;

(d) The Balance Sheet, the Revenue Account, the Profit and Loss Account and the Receipts and Payments Account dealt with by the report are in agreement with the books of account;


(e) In our opinion and to the best of our information and according to the explanations given to us , investments have been valued in accordance with the provisions of the Insurance Act, the Regulations and / or orders / directions issued by IRDA in this regard;

(f) The accounting policies selected by the Company are appropriate and are in compliance with the applicable Accounting Standards under the Companies Act, 1956 (“the Act”) read with the General Circular 15/2013 dated September 13, 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013 and the Rules framed there under and with the accounting principles as prescribed in the IRDA Financial Statements Regulations and orders / directions issued by IRDA in this regard; and

(g) On the basis of written representations received from the directors of the Company, as on March 31, 2014 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Act.

Other Matter

8. The actuarial valuation of liabilities for life policies in force is the responsibility of the Company’s Appointed Actuary (“the Appointed Actuary”). The actuarial valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at March 31, 2014 has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the Insurance Regulatory Development Authority (“IRDA”/”Authority”) and the Actuarial Society of India in concurrence with the Authority. We have relied upon Appointed Actuary’s certificate in this regard for forming our opinion on the valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists on financial statements of the Company.

For Walker Chandiok & Co LLP For CNK & Associates LLPChartered Accountants Chartered AccountantsFirm’s Registration No: 001076N Firm’s Registration No: 101961W

per Khushroo B. Panthaky per Hiren ShahPartner PartnerMembership No:42423 Membership No: 100052

Mumbai MumbaiApril 25, 2014 April 25, 2014


Independent Auditors’ CertificateIn accordance with the information and explanations given to us and to the best of our knowledge and belief and based on our examination of the books of account and other records maintained by Kotak Mahindra Old Mutual Life Limited (“the Company”) for the year ended March 31, 2014, we certify that:

1. We have reviewed the Management Report attached to the financial statements for the year ended March 31, 2014, and on the basis of our review, there is no apparent mistake or material inconsistencies with the financial statements;

2. Based on management representations and compliance certificates submitted to the Board of Directors by the officers of the Company charged with compliance and the same being noted by the Board, we certify that the Company has complied with the terms and conditions of registration stipulated by Insurance Regulatory and Development Authority (IRDA);

3. We have verified the cash balances, to the extent considered necessary, and securities relating to the Company’s loans and investments as at March 31, 2014, by actual inspection or on the basis of certificates/confirmations received from the Custodian and/ or Depository Participants appointed by the Company, as the case may be. As at March 31, 2014, the Company does not have reversions and life interests;

4. The Company is not a trustee of any trust; and

5. No part of the assets of the Policyholders’ Funds has been directly or indirectly applied in contravention to the provisions of the Insurance Act, 1938, relating to the application and investments of the Policyholders’ Funds.

This certificate is issued to comply with Schedule C of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations 2002, (“the Regulations”) read with Regulation 3 of the IRDA Financial Statements Regulations and is not intended to be used or distributed for any other purpose.





Independent Auditors’ CertificateThe Board of Directors

Kotak Mahindra Old Mutual Life Insurance LimitedKotakTowers,7thfloor,BuildingNo.21,Infinity Park, General A.K.Vaidya Marg Malad(East),Mumbai–400097

Dear Sirs,

[Ref: Certificate in accordance with the Regulation 13(D)(7) of the IRDA (Investment) (5th Amendment) Regulations, 2013 notified on February 16, 2013 in the Gazette of India.

1. At the request of Kotak Mahindra Old Mutual Life Insurance Limited (“the Company”), we have performed the procedures stated in paragraph 2 below, for the purpose of issuing a certificate required by the Regulations, regarding the declaration and application of the Net Asset Value (“NAV”) of the schemes of the Company as at March 31, 2014.

2. In this connection, we have performed the following procedures:

a) Obtained representation from the management that the Company has declared March 31, 2014 as a business day for accepting application forms and that it has declared NAV for March 31, 2014;

b) Obtained the list of New Business applications, Renewal applications and applications for Surrender, Free- look Cancellation, Fund Switches, Partial Withdrawal and Top Ups received in respect of Unit Linked Products on March 31, 2014 and April 1, 2014 (collectively referred to as “application forms”), from the Management;

c) Selected samples of application forms from listing mentioned in paragraph 2(b) above and for the samples selected verified whether:

i) the applications received on Monday, March 31, 2014, upto 3.00 p.m. hours have been processed with the NAV of March 31 2014; and

ii) the applications received on Monday, March 31, 2014, after 3.00 p.m. hours have been processed with the NAV of April 1, 2014.

3. The compliance with conditions stated in the Regulations is the responsibility of the Company’s management. Our responsibility is to perform the above-mentioned procedures on the particulars and state our findings. We performed the above-mentioned procedures, in accordance with the Guidance Note on Audit Reports and Certificates for Special Purposes issued by the Institute of Chartered Accountants of India (“ICAI”). The above-mentioned procedures include examining evidence supporting the particulars on a test basis. Further, our scope of work did not involve us performing audit tests for the purposes of expressing an opinion on the fairness or accuracy of any of the financial information or the financial statements of the Company taken as a whole. We have not performed an audit, the objective of which would be the expression of an opinion on the financial statements, specified elements, accounts or items thereof, for the purpose of this certificate. Accordingly, we do not express such opinion.

4. Based on the procedures performed by us, as mentioned in paragraph 2 above, according to the information and explanations provided to us and representation by the Company’s management, we confirm that:

(a) The Company had declared March 31, 2014 as a business day for accepting applications;

(b) The Company has declared NAV for March 31, 2014;

(c) The applications received on Monday, March 31, 2014 upto 3.00 p.m. have been processed with the NAV of March 31, 2014; and

(d) The applications received on Monday, March 31, 2014 after 3.00 p.m. have been processed with the NAV of the next business day i.e. April 01, 2014.

5. This certificate is issued at the request of the Company solely for use of the Company as per Regulation 13 (D) (7) of the Regulations and is not intended to be used or distributed for any other purpose.





FORM A-RA

Revenue Account for the year ended March 31, 2014 Policyholders’ Account (Technical Account)

(Amounts in thousands of Indian Rupees)

Particulars Schedule Year ended March 31, 2014

Year ended March 31, 2013

Premiums earned - net

(a) Premium 1 27,007,900 27,777,846

(b) Re-insurance ceded (498,528) (537,931)

(c) Re-insurance accepted - -

Income from investments

(a) Interest, Dividends and Rent Gross- Net of accretion/amortization of Discount/Premium (Refer Schedule 16- Note 15 (d))

6,547,821 5,322,089

(b) Profit on sale / redemption of investments 7,675,358 7,077,492

(c) (Loss on sale / redemption of investments) (7,029,601) (2,697,846)

(d) Transfer / Gain on revaluation / change in fair value 3,305,082 (89,184)

Contribution from Shareholders’ Account (Refer Schedule 16- Note 11) 236,589 412,221

Other Income

(a) Miscellaneous income (Net) 12,984 20,551

(b) Profit / (Loss) on sale / disposal of fixed assets (Net) 1,848 (2,347)

TOTAL (A) 37,259,453 37,282,891

Commission 2 1,343,781 1,174,124

OperatingExpensesrelatedtoInsuranceBusiness 3 5,827,247 5,732,751

Provision for doubtful debts - -

Bad debts written off - -

Provision for tax 120,138 58,637

Provisions (other than taxation)

(a) For diminution in the value of investments (Net) (12,706) 12,706

(b) Others - -

TOTAL (B) 7,278,460 6,978,218

Benefits paid (net) 4 18,542,229 17,821,346

Interim & Terminal Bonuses paid 61,388 24,194

Change in valuation of liability in respect of life policies,

(a) Gross (Refer Schedule 16- Note 29) 8,189,918 5,394,859

(b) Amount ceded in Reinsurance (Refer Schedule 16- Note 29) 63,149 (13,746)

(c) Amount accepted in Reinsurance - -

Provision for Linked Liabilities 1,005,941 6,003,643

TOTAL (C) 27,862,625 29,230,296

SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 2,118,368 1,074,377

APPROPRIATIONS

Transfer to Shareholders’ Account (Refer Schedule 16- Note 10) 2,006,410 1,825,020

Transfer to Other Reserve - -

RegistrationNo:107;DateofRegistration:January10,2001CIN : U66030MH2000PLC128503




Balance being Funds for Future Appropriations (403,289) (883,295)

Surplus after Appropriation 515,247 132,652

TOTAL (D) 2,118,368 1,074,377

SURPLUS/(DEFICIT) BROUGHT FORWARD 256,408 123,756

Surplus after Appropriation 515,247 132,652

SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 771,655 256,408

(a) Interim & Terminal Bonuses Paid 61,388 24,194

(b) Allocation of Bonus to Policyholders 556,256 423,356

(c) Surplus / (Deficit) shown in the Revenue Account 515,247 132,652

Total Surplus: [(a) + (b) + (c)] 1,132,891 580,202

The Schedules and accompanying notes are an integral part of this Revenue Account

As required by Section 40-B (4) of the Insurance Act, 1938, we certify that all expenses of Management in respect of life insurance business transacted in India by the Insurer have been fully recognized in this Revenue Account.

As per our report of even date attached For and on behalf of the Board of Directors

For Walker Chandiok & Co LLPChartered AccountantsICAI Firm Registration No : 001076N

For CNK and Associates LLPChartered AccountantsICAI Firm Registration No : 101961W

Uday KotakChairman

Shailesh DevchandVice-Chairman

Gaurang ShahDirector

Khushroo B. PanthakyPartnerMembership No- 42423

Hiren ShahPartnerMembership No- 100052

G. MurlidharManaging Director

Cedric FernandesChief Financial Officer

Sunil SharmaAppointed Actuary

Muralikrishna CheruvuCompany Secretary





FORM A-PL

Profit And Loss Account for the year ended March 31, 2014 Shareholders’ Account (Non-technical Account)




Amounts transferred from Policyholders’ Account (Technical Account) (Refer Schedule 16- Note 10)

2,006,410 1,825,020

Income from Investments(a) Interest, Dividends and Rent Gross- Net of amortisation (Refer Schedule 16- Note

15 (d)) 695,177 519,542

(b) Profit on sale/ redemption of investments 131,290 19,076 (c) (Loss on sale/ redemption of investments) (94,491) (19,515)Other Income - - TOTAL (A) 2,738,386 2,344,123 Expensesotherthanthosedirectlyrelatedtotheinsurancebusiness 7,914 7,249 Bad debts written off - - Provisions (other than taxation)(a) For diminution in the value of investments (Net) - - (b) Provision for doubtful debts - - (c) Others - Contribution to the Policyholders Fund (Refer Schedule 16- Note 11) 236,589 412,221 TOTAL (B) 244,503 419,470 Profit before tax 2,493,883 1,924,653 Provision for taxation- Current Year 102,549 27,270 - EarlierYear - - Profit after tax 2,391,334 1,897,383 Appropriations(a) Balance at the beginning of the year 2,403,435 506,052 (b) Interim dividends paid during the year - - (c) Proposed final dividend - - (d) Tax on dividend distributed - - (e) Transfer to reserves/ other accounts - - Profit/(Loss) carried to the Balance Sheet 4,794,769 2,403,435 EarningsPerShare(BasicandDiluted)(in` ) (Refer Schedule 16 - Note 21) 4.69 3.72 The Schedules and accompanying notes are an integral part of this Profit and Loss Account.




Uday KotakChairman













FORM A-BS

Balance Sheet as at March 31, 2014 (Amounts in thousands of Indian Rupees)

Particulars Schedule As at March 31 , 2014 As at March 31 , 2013

SOURCES OF FUNDS

Shareholders’ Funds:

Share Capital 5 5,102,902 5,102,902

Reserves and Surplus 6 5,315,132 2,923,798

Credit/[Debit] Fair Value Change Account - -

Sub-Total 10,418,034 8,026,700

Borrowings 7 - -

Policyholders’ Funds:

Credit/[Debit] Fair Value Change Account 58,690 15

Policy Liabilities

- Life Participating 15,917,697 12,060,895

- Pension Participating 752,482 713,480

- Life Non- Participating 9,648,972 5,275,534

- Life Non- Participating Variable(VIP) 48,275 -

- General Annuity 111,827 55,591

- Unit Linked 1,432,553 1,555,361

- Unit Linked Pension 131,865 28,043,671 129,742 19,790,603

(Refer Schedule 16- Note 4)

Insurance Reserves

- Life Participating 650,155 185,316

- Pension Participating 121,500 71,092

- Life Non- Participating - -

- Life Non- Participating Variable(VIP) - -

- General Annuity - -

- Unit Linked Life - -

- Unit Linked Pension - 771,655 - 256,408

(Refer Schedule 16- Note 18)

Provision for Linked Liabilities

- Linked Liabilities 74,693,382 77,571,750

- Fair Value Change 5,445,097 80,138,479 2,140,015 79,711,765

Sub-Total 109,012,495 99,758,791

Funds for Discontinued policies (Refer Schedule 16- Note 28)

- Discontinued on account of non-payment of premium 1,039,179 459,952

- Others - -

Funds for Future Appropriation:-Linked Liabilities 151,540 554,829

Others - -

Total 120,621,248 108,800,272

APPLICATION OF FUNDS



Particulars Schedule As at March 31 , 2014 As at March 31 , 2013

Investments

– Shareholders’ 8 8,139,638 6,296,974

– Policyholders’ 8A 31,566,578 22,612,172

Assets Held to Cover Linked Liabilities 8B 81,329,198 80,726,548

Loans 9 96,912 58,707

Fixed Assets 10 358,297 316,726

Current Assets

Cash and Bank Balances 11 1,598,908 1,634,150

Advances and Other Assets 12 2,453,218 1,949,330

Sub-Total (A) 4,052,126 3,583,480

Current Liabilities 13 4,831,984 4,699,650

Provisions 14 89,517 94,685

Sub-Total (B) 4,921,501 4,794,335

Net Current Assets (C) = (A-B) (869,375) (1,210,855)

MiscellaneousExpenditure(Totheextentnotwrittenofforadjusted)

15 -

Debit Balance in Profit and Loss Account (Shareholders’ Account)

- -

120,621,248 108,800,272

The Schedules and accompanying notes are an integral part of this Balance Sheet.




Uday KotakChairman













Statement of Receipts and Payments for the year ended March 31, 2014


Particulars Year Ended March 31, 2014

YearEndedMarch 31, 2013

Cash Flows from Operating ActivitiesPremium and Other receipt from Customer 27,076,799 27,672,358 Payments of other operating expenses (5,182,871) (5,027,020)Payments of commission and brokerage (1,254,843) (1,159,504)Advances/ Loans / Deposits placed (4,645) 21,514 Reinsurance premium (net of claims and commission) (79,574) (303,780)Claims paid (18,802,719) (18,049,152)Income-tax paid (273,917) (82,784)Service Tax paid (338,140) (391,779)Net cash from/ (deployed in) Operating Activities (A) 1,140,090 2,679,853 Cash Flows from Investing ActivitiesPurchase of fixed assets (248,055) (191,949)Interest and Dividend received on Investments (net of interest expended on purchase of investments) 6,709,931 5,362,951 Purchase of Investment (659,234,546) (375,857,007)Sale of Investment 651,308,032 364,468,316 Investments in money market instruments and in liquid mutual funds (Net) 322,976 3,733,506 Proceeds on sale of fixed assets 4,535 7,248 Loan granted against policies (38,205) 4,945 Net cash deployed in Investing Activities (B) (1,175,332) (2,471,990)Cash Flows from Financing ActivitiesProceeds from issue of Share Capital - - Net cash from Financing Activities (C) - - Net increase in Cash and Cash Equivalents ( A+B+C) (35,242) 207,863 Cash and cash equivalent at the beginning of the year 1,634,150 1,426,287 Cash and Cash Equivalents at end of year 1,598,908 1,634,150 Notes:Cash and cash equivalents at the end of the year includes:Cash (including cheques on hand, drafts and stamps) 387,208 565,194 Bank Balances (including deposits) 1,211,700 1,068,956 1,598,908 1,634,150 The above Statement of Receipts and Payments has been prepared as prescribed by Insurance Regulatory (Preparation of Financial Statements & Auditor’s Report of Insurance Companies) Regulations, 2002 under the ‘Direct Method’ laid out in Accounting Standard 3 – ‘Cash Flow Statements’ issued by the Institute of Chartered Accountants of India.




Uday KotakChairman













Schedule forming part of the Financial Statements for the year ended 31 March 2014

Registration No: 107; Date of Registration: January 10, 2001CIN : U66030MH2000PLC128503



YearEnded March 31, 2013

SCHEDULE 1 - Premium

First year Premium 7,890,724 7,493,522

Renewal Premium 14,289,752 15,896,802

Single Premium 4,827,424 4,387,522

Total Premium 27,007,900 27,777,846

Notes:

(a) All the premium income relates to business in India

(b) Refer Schedule 16- Note 2(a)

SCHEDULE 2 - Commission

Commission Paid

First year Premium 1,000,188 870,652

Renewal Premium 339,375 281,774

Single Premium 33,431 44,790

Sub-total 1,372,994 1,197,216

Add: Commission on Re-insurance accepted - -

Less: Commission on Re-insurance ceded(Refer Note-(b) below) (29,213) (23,092)

Net Commission 1,343,781 1,174,124

Breakup of Gross Commission

Agents 578,714 442,160

Brokers 183,709 215,587

Corporate Agents 610,580 539,262

Referral (9) 207

Total 1,372,994 1,197,216

Note :

(a) Refer Schedule 16 - Note 2(b)

(b) Profit/ Commission has been adjusted with Reinsurance ceded.

SCHEDULE 3 - Operating Expenses Related to Insurance Business

Employees’remunerationandwelfarebenefits(ReferNote-(b)below) 2,888,869 2,674,082

Travel, conveyance and vehicle running expenses 146,117 121,544

Training expenses 51,623 28,785

Rent, Rates and Taxes 416,915 394,453

Repairs 125,326 109,048

Printing and Stationery 46,219 45,842

Communication expenses 99,949 93,581







Legal and Professional charges 143,851 111,101

Medical fees 25,414 37,784

Auditors’ fees, expenses etc.

(a) as auditor 3,623 3,545

(b) as adviser or in any other capacity , in respect of - -

- Taxation matters - -

- Insurance Matters - -

- Management services; and - -

(c) in any other capacity (including out of pocket expenses) (Refer Note-(c) below) 356 297

Advertisement and publicity 374,760 434,519

DistributionExpenses 298,507 449,478

SalesPromotionExpenses 174,733 116,490

Interest and Bank charges 30,294 26,124

Depreciation 203,716 231,226

Information Technology expenses 148,214 149,901

Electricitycharges 80,505 67,399

Recruitment expenses 33,962 44,488

Brokerage 611 696

Stamp Duty 122,328 124,118

Membership and Subscription Fees 6,985 3,224

PreliminaryandShareissueExpenses - -

ServiceTaxExpenditure(ReferNote-(d)below) 318,711 396,993

Other expenses 85,659 68,033

Total 5,827,247 5,732,751

Notes:

a) Refer Schedule 16 - Note 2 (k) and Note 24

b) Refer Schedule 16 -Note 2(h) , Note 6 & Note 22 and Note 30

c) Refer Schedule 16 -Note 24(b)

d) Refer Schedule 16 -Note 24(c)

SCHEDULE 4 - Benefits Paid (Net)

1. Insurance Claims

(a) Claims by Death 2,102,430 1,750,938

(b) Claims by Maturity 1,991,589 664,389

(c) Annuities/ Pension payment (Refer Note-(c) below) 4,750 620







(d) Other Benefits

- Survival Benefits (Refer Note-(c) below) 100,846 57,440

- Surrenders 14,541,242 15,648,897

- Riders 6,866 8,491

- Claim Investigation Fees 5,130 5,080

- Others (Refer note (d) below) 96,176 69,284

Sub Total (A) 18,849,029 18,205,139

2. Amount ceded in reinsurance

(a) Claims by Death (306,724) (381,962)

(b) Claims by Maturity - -

(c) Annuities/ Pension payment - -

(d) Other Benefits - -

- Survival Benefits - -

- Surrenders - -

- Riders (76) (1,831)

- Others - -

Sub Total (B) (306,800) (383,793)

3. Amount accepted in reinsurance

(a) Claims by Death - -

(b) Claims by Maturity - -

(c) Annuities/ Pension payment - -

(d) Other Benefits - -

- Survival Benefits - -

- Surrenders - -

- Riders - -

- Others - -

Sub Total (C) - -

Total (A)+(B)+(C) 18,542,229 17,821,346

Notes :

(a) Refer Schedule 16 - Note 2(e)

(b) All the claims are paid in India.

(c) Refer Schedule 16 - Note 29 for regrouping of previous year figures.

(d) Includes provision for policy related claims.





Particulars As at March 31, 2014

As at March 31, 2013

SCHEDULE 5 - Share Capital

Authorized Capital

625,000,000(2013–625,000,000)EquitySharesof` 10 each 6,250,000 6,250,000

Issued Capital


Subscribed Capital


Called-up Capital


Less: Calls unpaid - -

Add: Shares forfeited (Amount originally paid up) - -

Less:ParValueofEquitySharesboughtback - -

Less:PreliminaryExpenses - -

Less:Expensesonissueofshares - -

Total 5,102,902 5,102,902

Notes:

(a) Oftheabove,260,248,044(2013–260,248,044)EquitySharesof` 10 each fully paid up are held by Kotak Mahindra Bank Limited, the holding companyanditsnominees,54,000,000(2013-54,000,000)and63,366,753(2013-63,366,753)fullypaid-upEquitySharesof` 10 each are held by Kotak Mahindra Prime Limited and Kotak Mahindra Capital Company Limited respectively, which are subsidiaries of Kotak Mahindra Bank Limited.

Particulars As at March 31, 2014 As at March 31, 2013

Number of Shares % Holding Number of Shares % Holding

SCHEDULE 5A - Pattern of Shareholding (As certified by the Management)

Shareholders

Promoters

- Indian 377,614,797 74% 377,614,797 74%

- Foreign 132,675,452 26% 132,675,452 26%

Others - - - -

Total 510,290,249 100% 510,290,249 100%







SCHEDULE 6 - Reserves and Surplus

Capital Reserve - -

Capital Redemption Reserve - -

Securities Premium 520,363 520,363

Revaluation Reserve - -

General Reserves - -

Less: Debit balance in Profit and Loss Account - -

Less: Amount utilized for Buy-back - -

Catastrophe Reserve - -

Other Reserve - -

Balance of profit in Profit and Loss Account 4,794,769 2,403,435

Total 5,315,132 2,923,798

SCHEDULE 7 - Borrowings

Debentures/ Bonds - -

Banks - -

Financial Institutions - -

Others - -

Total - -

SCHEDULE 8 - Investments-Shareholders’

LONG TERM INVESTMENTS

Government securities and Government guaranteed bonds including Treasury Bills 2,326,200 1,164,861

Other Approved Securities 1,675,221 1,330,588

Other Investments

(a) Shares

(aa) Equity - -

(bb) Preference - -

(b) Mutual Funds - -

(c) Derivative Instruments - -

(d) Debentures / Bonds 728,183 916,811

(e) Other Securities (including Fixed Deposits) 180,000 270,900

(f) Subsidiaries - -

(g) InvestmentProperties–RealEstate - -

Investment in Housing & infrastructure sector

(I) Approved Investments

(a) Equity - -

(b) Others 1,339,848 1,667,650

(II) Other than Approved Investments

(a) Equity - -

(b) Others - -







Other than Approved Investments

(a) Equity - -

(b) Others - -

Total 6,249,452 5,350,810

SHORT TERM INVESTMENTS

Government securities and Government guaranteed bonds including Treasury Bills 80,533 157,352

Other Approved Securities - -

Other Investments - -

(a) Shares

(aa) Equity - -

(bb) Preference - -








(I) Approved Investments - -

(a) Equity - -

(b) Others 509,424 11000


(a) Equity - -

(b) Others - -


(a) Equity - -

(b) Others - -

Total 1,890,186 946,164

Grand Total 8,139,638 6,296,974

Notes:

(a) Investment in Kotak Mahindra Prime Ltd in Debentures 589,698 490,000

(b) ParticularsofInvestmentotherthanListedEquitySecurities:-

- Cost 8,139,639 6,296,974

- Market Value 7,820,507 6,269,625

(c) Refer Schedule 16 – Notes 2(d)

(d) Refer Schedule 16 – Notes 15(b)







SCHEDULE 8A - Investments-Policyholders’




Other Investments

(a) Shares

(aa) Equity 1,453,648 494,006

(bb) Preference - -



(d) Debentures / Bonds 2,254,217 669,217

(e) Other Securities (including Fixed Deposits) - 141,200


(g) InvestmentProperties–RealEstate 491,494 490,694



(a) Equity 18,643 78,341

(b) Others 6,299,805 5,544,849


(a) Equity 3,191 -

(b) Others - -

Total 29,560,057 21,155,634


Government securities and Government guaranteed bonds including Treasury Bills 22,831 -

Other Approved Securities

Other Investments - -

(a) Shares

(aa) Equity - -

(bb) Preference - -




(e) Other Securities (including Fixed Deposits) 854,750 1,061,966




(I) Approved Investments

(a) Equity - -

(b) Others 369,307 42,367








(a) Equity - -

(b) Others - -


(a) Equity - -

(b) Others - 50,040

Total 2,006,521 1,456,538

Grand Total 31,566,578 22,612,172

Notes:

(a) Investments in Kotak Mahindra Prime Ltd in Debenture 409,131 60,000


- Cost 30,091,097 22,039,825

- Market Value 28,421,811 22,100,383

(c) Refer Schedule 16- Notes 2 (d)

SCHEDULE 8B - Investments-Unit Linked




Other Investments

(a) Shares

(aa) Equity 34,761,484 34,725,504

(bb) Preference 9,286 -



(d) Debentures / Bonds 3,605,483 4,052,299






(a) Equity 1,891,237 1,804,279

(b) Others 5,114,107 9,172,412

(II) Other than Approved Investments - -

(a) Equity - -

(b) Others - -


(a) Equity 1,201,452 3,216,624

(b) Others - -

Total 71,055,217 67,265,030








Government securities and Government guaranteed bonds including Treasury Bills 16,073 28,638

Other Approved Securities - -

Other Investments

(a) Shares

(aa) Equity - -

(bb) Preference - -

(b) Mutual Funds


(d) Debentures / Bonds 1,669,884 947,960

(e) Other Securities (including Fixed Deposits) 5,734,498 8,634,807



Investments in Infrastructure and Social Sector


(a) EquityShares - -

(b) Others 1,306,939 395,564


(a) Equity - -

(b) Others - -


(a) EquityShares - -

(b) Others - -

Net Current Assets 1,546,587 3,454,549

Total 10,273,981 13,461,518

Grand Total 81,329,198 80,726,548

Notes:

(a) Investment in Kotak Mahindra Prime Ltd in Debentures’ 199,719 500,958


- Cost 42,155,297 37,521,473

- Market Value 41,921,890 37,525,590

(c) Refer Schedule 16 Notes 2(d)







SCHEDULE 9 - Loans

SECURITY–WISE CLASSIFICATION

Secured

(a) On mortgage of property

(aa) In India - -

(bb) Outside India - -

(b) On Shares, Bonds, Govt. Securities etc. - -

(c) Loans against policies 96,912 58,707

(d) Others - -

Unsecured - -

Total 96,912 58,707

BORROWER-WISE CLASSIFICATION

(a) Central and State Governments - -

(b) Banks and Financial Institutions - -

(c) Subsidiaries - -

(d) Companies - -

(e) Loans against policies 96,912 58,707

(f) Others–Employees - -

Total 96,912 58,707

PERFORMANCE-WISE CLASSIFICATION

(a) Loans classified as standard

(aa) In India 96,912 58,707


(b) Non-standard loans less provisions

(aa) In India - -


Total 96,912 58,707

MATURITY-WISE CLASSIFICATION

(a) Short term 3,819 1,984

(b) Long Term 93,093 56,723

Total 96,912 58,707

Commitments made and outstanding for Loans ` Nil ( 2013- ` Nil)

Notes:

a) Refer Schedule 16 - Note 2(f)

b) There was no restructuring of loan assets during the year.




SCHEDULE 10 - Fixed Assets


Particulars Cost/ Gross Block Depreciation Net Block

As on April 1,

2013

Addition On Sale/ Adjustment

As at March 31,

2014

As on April 1,

2013

For the year

On Sale/ Adjustment

As at March 31,

2014

As at March 31,

2014

As at March 31,

2013

Goodwill - - - - - - - - - -

Intangibles - Software *

909,481 97,670 - 1,007,151 747,511 116,403 - 863,914 143,237 161,970

Land-Freehold - - - - - - - - - -

Leasehold property - - - - - - - - - -

Buildings - - - - - - - - - -

Furniture and fittings **

302,523 48,332 11,527 339,328 259,587 31,576 10,451 280,712 58,616 42,936

Information technology equipment

364,593 36,838 19,024 382,407 325,047 33,203 18,894 339,356 43,051 39,546

Vehicles 46,887 21,257 8,353 59,791 21,418 12,852 7,208 27,062 32,729 25,469

Office equipment 120,921 12,718 5,768 127,871 105,574 9,763 5,432 109,905 17,966 15,347

1,744,405 216,815 44,672 1,916,548 1,459,137 203,797 41,985 1,620,949 295,599 285,268

Capital Work-in-progress

62,698 31,458

Grand Total 1,744,405 216,815 44,672 1,916,548 1,459,137 203,797 41,985 1,620,949 358,297 316,726

Previous Year 1,694,212 181,695 131,502 1,744,405 1,349,760 231,285 121,908 1,459,137 316,726

* Includes licenses

** Includes leasehold improvements

Note:

Refer Schedule 16 – Notes 2(g)




SCHEDULE 11 - Cash and Bank Balances

Cash (including cheques on hand, drafts and stamps) 387,208 565,194

Bank Balances

(a) Deposit Accounts

(aa) Short-term (due within 12 months of the date of Balance Sheet) 264,869 231,138

(bb) Others - -

(b) Current accounts 946,831 837,818

(c) Others - -







Money at Call and Short Notice

(a) With Banks - -

(b) With other Institutions - -

Total 1,598,908 1,634,150

Balance with non-scheduled banks included above - -

Cash and Bank balance

In India 1,598,908 1,634,150

Outside India - -

Total 1,598,908 1,634,150

SCHEDULE 12 - Advances and Other Assets

ADVANCES

Reserve deposits with ceding companies - -

Application money for investments - -

Prepayments 163,375 199,086

Advance to Directors/ Officers - -

Advance tax paid and T.D.S (Refer Note (a) below) 53,327 2,411

Advances to suppliers 94,312 126,856

Advances to employees 37,424 62,627

Total (A) 348,438 390,980

OTHER ASSETS

Income accrued on investments 1,298,526 934,728

Outstanding Premiums 495,637 391,955

Agents Balances - -

Foreign Agencies Balances - -

Due from other entities carrying on insurance business (including reinsurers) 3,070 35,009

Due from subsidiaries/ holding company - -

Deposits pursuant to Section 7 of Insurance Act, 1938 - -

Security and other deposits 223,243 144,968

Service Tax Unutilised Credit 3,868 1,500

Other Receivables 80,436 50,190

Total (B) 2,104,780 1,558,350

Total (A + B) 2,453,218 1,949,330

Notes :

(a) - Advance tax paid and Taxes deducted at source

Provision for Tax (438,239) (215,552)

Advance Tax and Tax deducted at source 491,566 217,963

53,327 2,411







SCHEDULE 13 - Current Liabilities

Agents’ balances 250,296 180,099

Balance due to other insurance companies (net) 60,146 -

Deposits held on re-insurance ceded - -

Premium received in advance (Refer Note (a) below) 32,218 33,414

Unallocated premium (proposals/policy deposits) (Refer Note (a) below) 636,905 431,911

Sundry creditors (Refer Note (a) below) 46,859 47,232

Due to holding company / Fellow Subsidiary 4,759 4,034

Claims outstanding (Refer Note (a) below) 490,140 294,436

Unclaimed Amount of Policy Holders (Refer Note (a) and (b) below) 543,831 665,790

Annuities due (Refer Note (a) below) 395 111

Due to Officers / Directors - -

Accrued expenses 1,663,007 1,532,937

Taxes deducted at source, payable 73,276 69,108

Statutory dues payable 38,339 33,840

Others - Payable

- Refunds Payable (Refer Note (a) below) 70,889 58,285

- Security Deposit (Refer Note (a) below) 35,310 35,310

- Investments Purchased to be settled 72,407 -

- Payable to unit linked schemes (Refer Note (c) below) 813,207 1,313,143

Total 4,831,984 4,699,650

Note:

a) Refer Schedule 16 - Note 29 for regrouping of previous year figures.

b) Refer Schedule 16 - Note 27

c) Refer Schedule 16 - Note 15 (e)

SCHEDULE 14 - Provisions

For taxation - -

For proposed dividend - -

For dividend distribution tax - -

Provision for gratuity - -

Provision for leave encashment 89,517 94,685

Others - -

Total 89,517 94,685

SCHEDULE 15 - Miscellaneous Expenditure

(To the extent not written off or adjusted)

Discount Allowed in issue of shares/ debentures - -

Others - -

Total - -


Schedule forming part of the Financial Statements for the year ended 31 March 2014(Currency: In thousands of Indian Rupees unless otherwise stated)


Schedule 16 : Notes to the financial statements

1. Background

Kotak Mahindra Old Mutual Life Insurance Limited (‘the Company’) was incorporated on August 31, 2000 as a Company under the Companies Act, 1956 to undertake and carry on the business of life insurance and annuity. The Company obtained a license from the Insurance Regulatory and DevelopmentAuthority(‘IRDA’)datedJanuary10,2001forcarryingonthebusinessoflifeinsuranceandannuity.Thelicensehasbeenrenewedregularly and is in force as at March 31, 2014.

2. Summary of significant accounting policies

Basis of Preparation:

The Financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under Section 211(3C) of the Companies Act, 1956 (“the 1956 Act”) (which continue to be applicable in respect of Section 133 of the Companies Act, 2013 (“the 2013 Act”) in terms of General Circular 15/2013 dated 13 September, 2013 of the Ministry of Corporate Affairs) and the relevant provisions of the 1956 Act/ 2013 Act, as applicable, and in accordance with the provisions of the Insurance Act, 1938, the Insurance Regulatory and Development Authority Act, 1999 and the regulations framed there under to the extent applicable and the practices prevailing within the insurance industry in India. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

Use of Estimates:

The preparation of financial statements requires the Management to make judgements, estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) as on the date of the financial statements and the reported income and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcome requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

The significant accounting policies adopted by the Company are as follows:

(a) Revenue recognition :

Premium Income

Premium is recognized as income when due from policyholders except on unit linked policies, where the premium is recognized when associated units are created.

In accordance with the terms of insurance policies, uncollected premium on lapsed policies is not recognized as income until revived.

Top Up/Lump sum contributions are accounted as a part of single premium.

Income from linked policies, which include asset management fees and other charges, if any, are recovered from the linked fund in accordance with the terms and conditions of the policies.

Reinsurance premium ceded is accounted as an expense at the time of recognition of the premium income in accordance with the treaty arrangements with the re-insurers.

Profit / Commission on reinsurance ceded is accounted as income in the period in which reinsurance is ceded .

Reinsurance premium and reinsurance commission are recognized over the period of the risk.

Income earned on Investments

Interest income is recognized on accrual basis. Dividend income for quoted shares is recognized on ex-dividend date, for non quoted shares the dividend is recognised when the right to receive the dividend is established. Accretion of discount and amortization of premium relating to debt securities is recognized over the maturity period of such securities on internal rate of return.

Gain/ Loss on transfer/ sale of securities is the difference between the transfer/sale price and the net amortized cost/ book value which is computed on a Weighted average basis as on the date of transfer/sale. Sale consideration for the purpose of realized gain/loss is net of brokerage and taxes , if any.

Rental income is recognised in the income statement on the straight line basis over the lease period .

(b) Acquisition Costs

Acquisition costs such as commission and medical fees are costs that vary with and are primarily related to the acquisition of new and renewal insurance contracts. Such costs are recognized in the year in which they are incurred.




(Currency: In thousands of Indian Rupees unless otherwise stated)

(c) Liability for Policies

(i) The Company provides for policy liabilities in respect of all “in force” policies and “lapsed policies” that are likely to be revived in future based on actuarial valuation done by the Appointed Actuary in accordance with accepted actuarial practices , requirements of IRDA and the Institute of Actuaries of India.

(ii) Liabilities in respect of unit-linked policies which have lapsed and are not likely to be revived , are shown as a separate item under the head “Funds for Future Appropriation”, until expiry of the revival period. This is as per IRDA circular no 041/IRDA/ACTL/MAR-2006 dated March 29, 2006.

(iii) Liabilities in respect of funds arising from discontinued policies are shown under a separate head in the balance sheet as “ Funds for Discontinued policies”. This is as per IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010.

(iv) Linked liabilities comprise of unit liability representing the fund value of policies.

The actuarial policies and assumptions are given in the Note 3 .

2. Summary of significant accounting policies (Continued)

(d) Investments

Investments are made in accordance with the Insurance Act, 1938, the Insurance Regulatory and Development Authority (Investment Regulations), 2000 (as amended) and circulars/notifications issued by IRDA from time to time .

Investments are recorded at cost on trade date which includes brokerage, transfer charges, transaction taxes as applicable, etc. but excludes preacquisition interest, if any and service tax on brokerage where cenvat credit is being claimed.

i) Classification

Investments maturing within twelve months from the Balance Sheet date and investments made with the specific intention to dispose them off within twelve months from the Balance Sheet date are classified as ‘Short Term Investments.’ Investments other than Short Term Investments are classified as ‘Long Term Investments.’

ii) Basis of allocation of Investment & Income thereon between Policyholder Account & Shareholder Account

The funds of the shareholders and the policyholders are kept separate and records are maintained accordingly. Investments are specifically procured and held for policyholders and shareholders’ funds independently from their inception and the income thereon is also tracked separately. Since the actual funds, investments and income thereon are tracked and reported separately, the allocation of investments and income is not required.

iii) Valuation -Shareholder’s Investments and non-linked policy-holders Investments

Debt Securities

All debt securities are considered as ‘held to maturity’ for the purpose of valuation and are accordingly recorded at historical cost (excluding interest paid, if any). Debt securities including government securities are stated at net amortized cost. The premium/ discount, if any, on purchase of debt securities is amortized/accrued over the period to maturity on internal rate of return.

Equity Shares

TheCompanyhasadoptedtheNationalStockExchangeofIndiaLtd.(“NSE”)astheprimaryexchangeandBSELimited(“BSE”)asthesecondaryexchange.ListedequitysharesasatBalanceSheetdatearestatedattheclosingpriceontheNSE.IfanequityshareisnotlistedortradedontheNSE,thesharepriceonBSEisused.Equitysharesawaitinglistingarestatedathistoricalcostsubjecttoprovisionfor diminution, if any. Unrealized gains / losses arising due to changes in the fair value of listed equity shares are taken to “Fair Value Change Account” and carried forward to Balance Sheet where the net balance is positive. Negative balance in the “Fair Value Change Account” is recognized in the Revenue Account / Profit and Loss Account to the extent of negative balance in “ Fair Value Change Account as reduced by the amount previously provided in the Revenue Account / Profit and Loss Account . The profit or loss on actual sale of listed equity includes the accumulated changes in the fair value previously recognized under “Fair Value Change Account”.

In case of impairment in the value of investment as at the balance sheet date which is other than temporary, the amount of loss is recognized as an expense in the Revenue\ Profit & Loss Account to the extent of difference between the remeasured fair value of the investment and its acquisition cost as reduced by any previous impairment loss recognized as expense in Revenue/Profit & Loss Account. Any reversal of impairment loss, earlier recognized in Revenue/ Profit and Loss Account, is recognized in the Revenue/ Profit and Loss Account.




iv) Valuation -Unit Linked Business

Debt Securities

All Government securities, except treasury bills, for linked business are valued at prices obtained from CRISIL Ltd. Debt Securities other than Government Securities are valued on the basis of CRISIL Bond valuer.The discount on purchase of treasury bills, certificate of deposit, commercial papers & CBLO are amortized over the period to maturity on internal rate of return basis.

Equity Shares

TheCompanyhasadoptedtheNationalStockExchangeofIndiaLtd.(“NSE”)astheprimaryexchangeandBSELimited(“BSE”)asthesecondaryexchange.ListedequitysharesasatBalanceSheetdatearestatedattheclosingpriceontheNSE.IfanequityshareisnotlistedortradedontheNSE,thesharepriceonBSEisused.Equitysharesawaitinglistingarestatedathistoricalcostsubjecttoprovisionfor diminution, if any, in the value of such investment determined separately for each individual investment. Unrealized gains and losses are recognized in the respective scheme’s Revenue Account.

Mutual Fund Units are valued at the previous day’s closing net asset value (NAV) of the fund in which they are invested.

Real estate investment property represents land or building held for investment purposes. Investment in the real estate investment property is valued at historical cost plus revaluation, if any. Revaluation of the investment property is done at least once in three years. Any change in the carrying amount of the investment property is accounted to Revaluation Reserve. Impairment loss, if any, exceeding revaluation reserve is recognised as expenses in the Revenue/Profit and Loss Account

v) Transfer of Investments

Transfer of investments from Shareholders’ fund to the Policyholders’ fund is at book value or market price, whichever is lower. Transfer of debt securities from Shareholders’ to Policyholders’ fund is transacted at the lower of net amortized cost or market value. Transfer of Investments between unit-linked funds are done at market price.

(e) Benefits Paid

Benefits paid comprise of policy benefit amount, surrenders, claim investigation fees and specific claims settlement costs where applicable and change in the outstanding provision for claims at the year end. Surrender and claims by death are accounted when intimated. Survival benefits are accounted when due. Maturity claims are accounted on the date of maturity. Amounts recoverable from reinsurers are accounted for in the same period of the related claim. Repudiated claims disputed before judicial authorities are provided for, based on the best judgment of the management considering the facts and evidence in respect of each such claims. Withdrawals under unit-linked policies are accounted in respective schemes when the associated units are cancelled.

(f) Loans

Loans are stated at historical cost, subject to provision for impairment, if any. Interest on loan, if any, is accrued when due. Norms laid down undercircularNo32/2/F&A/Circular/169/Jan/2006-07issuedbytheIRDAareadheredtointhisregard.

(g) Fixed Assets and Depreciation / Amortisation

Fixed assets are stated at cost including incidental expenses less accumulated depreciation. In respect of liabilities incurred in acquisition of fixed assets in foreign exchange , the net gain or loss arising on conversion / settlement are charged to revenue account. Intangible assets comprising software are stated at cost less amortization. Significant expenditure on improvements to software are capitalised when it is probable that such expenditure will enable the asset to generate future economic benefits in excess of its originally assessed standard of performance and such expenditure can be measured and attributed to the assets reliably.

Depreciation/ amortization is provided under the straight-line method( SLM) with reference to the management’s assessment of the estimated useful lives of the assets or the rates and in themanner specified by Schedule XIV of theCompaniesAct, 1956,whichever is higher.Depreciation is charged on assets from the date the asset is capitalized and up to the date asset is last used in case of disposal.

Assets costing individually less than ` 5,000 are depreciated fully in the year of acquisition.

Estimatedusefullivesoverwhichassetsaredepreciatedareasfollows:

Leasehold improvements Over the period of lease subject to a maximum of 6 years

Information technology equipment (including software) 3 years

Furniture and fittings 6 years

Vehicles 4 years

Office equipment 5 years





Impairment of Assets

The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal/external factors.Impairmentoccurswherethecarryingvalueexceedsthepresentvalueoffuturecashflowsexpectedtoarisefromthecontinuinguseof the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the asset’s net sales price or present value as determined above. After impairment, depreciation is provided on the revised carrying amount of the asset over it’s remaining useful life.

(h) Employee Benefits

a. Provident fund is a defined contribution plan and the contributions as required by the statute to Government Provident Fund are charged to Revenue Account/Profit and Loss Account when due.

b. Gratuity liability is a defined benefit and is wholly funded. The company accounts for the liability for future gratuity benefits based on an actuarial valuation. The company makes contribution to a Gratuity Fund administered by trustees and managed by a life insurance company. The net present value obligation towards the same is actuarially determined based on the projected unit credit method as at the Balance Sheet date. Actuarial gains and losses are immediately recognised in the Revenue Account/Profit and Loss Account and are not deferred.

c. Superannuation fund is a defined contribution scheme. The Company contributes a sum equivalent to 15% (previous year 15%), subject to a maximum of `1 lakh, of eligible employees’ salary to a Superannuation Fund administered by the trustees.

d. The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by employee is recognized during the period when the employee renders the service. These benefits include performance incentives.

e. The Company accrues the liability for compensated absences based on the actuarial valuation as at the balance sheet date conducted by an independent actuary. The net present value of the Company’s obligation is determined based on the projected unit credit method as at the Balance Sheet date.

f. Actuarial gains/losses are immediately taken to the Revenue account/Profit and Loss Account and are not deferred.

g. The Company contributes up to 10% of eligible employees’ salary per annum, to the New Pension Fund administered by a PFRDA appointed pension fund manager. The Company recognises such contributions as an expense in the year they are incurred.

(i) Accounting for Operating Leases

Where the Company is the lessee:

Leases where the lessor effectively retain substantially all the risks and benefits of ownership over the lease term are classified as operating leases. Operating lease rentals are recognized as an expense in the Revenue/ Profit and Loss Account on a straight line basis over the lease term.

Where the Company is the lessor:

Leases in which the Company does not transfer substantially all the risks and benefits of the ownership of assets are classified as operating leases. Lease income of operating asset is recognised in the Revenue/Profit and Loss Account on a straight line basis over the lease term.

(j) Foreign Currency Transactions

Transactions denominated in foreign currency are recorded at the rate of exchange prevailing on the transaction date. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are translated using the rate of exchange prevailing on that date.

ExchangedifferenceseitheronsettlementorontranslationarerecognizedintheRevenueAccount/ProfitandLossAccount,asapplicable.

(k) Segment reporting

Business Segments

In accordance with the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002 (referred to as ‘Accounting Regulations’) read with Accounting Standard 17 on ‘Segment Reporting’ prescribed in Companies (Accounting Rules), 2006 , the Company’s business in India is classified into Life Participating business, Pension Participating business, Life Non Participating business, Life Non Participating Variable business (VIP), General Annuity business, Unit Linked Life business, Unit Linked Pension business and Investment of the Shareholders’ funds.

Segmental revenues

All segment revenues are directly attributed to the respective individual segments. There are no inter-segment revenues.




Segmental expenses

Operating expenses relating to insurance business are assigned to Life Participating, Pension Participating, Life Non Participating, Life Non Participating Variable (VIP), General Annuity, Unit Linked Life, and Unit Linked Pension segments as follows:

Expensesdirectlyidentifiabletothebusinesssegmentsareallocatedonanactualbasis.

Other expenses, which are not directly identifiable, are apportioned to the business segments on the basis of either on one or a combination of some of the following parameters: (a) total number of policies issued during the year, or (b) premium income, or (c) weighted premium income, or (d) sum assured during the year, or (e) first year commission, or (f) total number of policies, or (g) renewal commission, or , (h) average assets under management, or, (i) expenses allowances, as considered appropriate by the Management. The method of apportionment has been decided based on the nature of the expense and its logical relationship to the various business segments.

Segmental assets and liabilities

Segment assets and liabilities include those that are employed by a segment in its operating activity.

Secondary Geographical Segments

There are no reportable geographical segments since all business is written in India and the company does not distinguish any reportable regions in India.

(l) Taxation

Provision for current income tax, if any, is made on an accrual basis after taking credit for allowances and exemptions in accordance with Income Tax Act, 1961. Deferred income tax is recognized for future tax consequences attributable to timing differences between income as determined by the financial statements and the recognition for tax purposes. The effect on deferred tax assets and liabilities of a change in tax rates is recognized using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date.

Deferred tax assets are recognized only to the extent there is reasonable certainty that the assets can be realized in future. However, where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are recognized only if there is virtual certainty backed by convincing evidence that such deferred assets can be realized.

Deferred tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantially enacted before the balance sheet date. Changes in deferred tax assets / liabilities on account of changes in enacted tax rates are given effect to in the Revenue account/ Profit and Loss Account in the period of the change. At each reporting date, the company reassesses unrecognised deferred tax assets. It recognises deferred tax assets to the extent that it has become reasonably or virtually certain, as the case may be, that sufficient future taxable income will be available against which such deferred tax assets can be realised.

The company allocates income tax to the each line of business in order to ensure that the expenses pertaining to and identifiable with a particular line of business are represented as such to enable a more appropriate presentation of the financial statements. Accordingly, tax charge / credit on surplus / deficit arising from each line of business is disclosed separately in the Segmental Revenue account.

(m) Preliminary and Share Issue expenses

ShareIssueexpensesinrelationtoincreaseinsharecapitalarewrittenoffwhenincurred.PreliminaryExpensesandInitialShareIssueexpensesareamortizedoveraperiodof3years.UnamortizedPreliminaryExpensesandShareIssueexpensesareadjustedinthescheduleofShareCapital as prescribed under the IRDA Regulations.

(n) Service tax

Service tax liability on premium and unit-linked charges are set-off against available cenvat credits. Unutilized credits, if any, are carried forward under “Advances and Other Assets” for set-off in subsequent periods.

(o) Provisions and Contingencies

Provisionisrecognisedwhenthereisapresentobligationasaresultofpastevent;itisprobablethatanoutflowofresourceswillberequiredto settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date andadjustedtoreflectthecurrentbestestimates.

ContingentLiabilitiesarenotrecognizedbutaredisclosed inthenotesunlesstheoutflowofresources is remote.Contingentassetsareneither recognised nor disclosed in the financial statements.

(p) Earnings per Share

The basic earnings per share is computed by dividing the net profit or loss for the period attributable to the equity shareholders by weighted average number of equity shares outstanding during the reporting year.





For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

(q) Employee stock option scheme

Equity-settled scheme :

In accordancewith SEBI (Employees StockOption Scheme and Employee Stock Purchase) Guidelines, 1999 and the guidance note on“AccountingforEmployeeShare-basedPayments”issuedbytheInstituteofCharteredAccountantsofIndia,theexcess,ifany,ofthemarketpriceofshareprecedingthedateofgrantoftheoptionunderESOPsovertheexercisepriceofoptionisamortisedonastraight-linebasisover the vesting period.

Cash Settled scheme :-

The cost of cash-settled transactions (stock appreciation rights) is measured initially using intrinsic value method at the grant date taking into account the terms and conditions upon which the instruments were granted. This intrinsic value is amortised on a straight-line basis over the vesting period with a recognition of corresponding liability. This liability is remeasured at each balance sheet date up to and including thesettlementdatewithchangesinintrinsicvaluerecognisedintheRevenue/Profitandlossaccountin‘Employees’remuneration&welfarebenefits’.

3 Actuarial method and assumptions

The actuarial liabilities have been calculated by the Appointed Actuary in accordance with generally accepted actuarial principles, the requirements of the Insurance Act 1938, IRDA regulations and the prescribed guidance notes of the Institute of Actuaries of India. The method adopted is as follows:

a) Unit Linked Policies : A unit reserve equal to the value of the units on March 31, 2014 plus a non-unit reserve calculated on gross premium prospective valuation method.

b) Par policies (accumulation contracts) : The value of the accumulated fund plus a non-unit reserve calculated on gross premium prospective valuation method. Individual conventional business/Group where premiums are guaranteed for more than one year: Gross premium prospective method.

c) Group one year renewable: calculated as the risk premium for the unexpired term with an allowance for expenses and a margin for adverse deviations.

d) Group fund based/VIP: fund equal to premiums net of deductions accumulated with guaranteed interest plus a non-unit reserve to provide for expense and mortality.

e) Provision on lapsed unit-linked policies not likely to be revived is created and shown under the head Funds for Future Appropriation as required by IRDA circular no 041/IRDA/ACTL/MAR-2006 dated 29th March’2006.

f) Freelook provision is held to meet any premium refunds from freelook cancellations. The reserve held is equal to assumed probability of freelook cancellations times the (premiums (net of stamp duty and initial commission) less the reserves at the end of month one).

The assumptions used in the Gross Premium valuation are based on best estimates together with appropriate margins for adverse deviations from experience.Theprincipalassumptionsareinterest,inflation,returntopolicyholders’account,lapses,expenses,mortalityandmorbidity.Thebaseassumptions are:

Interest 5.8% p.a. to 8.4% p.a. during the first five years , 4.9% p.a. to 7.5% p.a. thereafter ( 2013 : 5.7% p.a. to 7.8% p.a. during the first five years , 4.9% p.a. to 7.0% p.a. thereafter)

Inflation 6% (2013 : 6.5%)

Policyholders returns Rates consistent with the earning rates and charges

Lapses Future policy lapses have been assumed based on the type of policy and the duration for which the policy has been in force

Expenses Conservative expenses levels consistent with recent experience

Mortality Based on IALM 2006-08 (P.Y. 1994-96) mortality table

Morbidity (for Critical Illness) Based on adjusted CIBT rates.

Morbidity (other riders) Based on reinsurers’ rates




4 Policy liabilities

(Forming part of Policyholders’ Funds)

Particulars 2014 2013

Life Participating

Pension Participating

Life Non Participating


Variable (VIP)

General Annuity

Unit Linked

Unit Linked

Pension

Total Life Participating




Variable (VIP)

General Annuity

Unit Linked

Unit Linked

Pension

Total

At the beginning of the year

12,060,895 713,480 5,275,534 - 55,591 1,555,361 129,742 19,790,603 8,696,073 635,796 3,043,846 - - 1,916,780 116,994 14,409,489

Add: Change in valuation against policies in force

3,332,203 7,344 4,373,438 48,275 56,236 (122,808) 2,123 7,696,812 2,970,679 48,471 2,231,688 - 55,591 (361,419) 12,748 4,957,758

Add: Bonus to policyholders (Refer Note 10 below)*

524,598 31,658 - - - - - 556,256 394,143 29,213 - - - - - 423,356

At end of the year 15,917,696 752,482 9,648,972 48,275 111,827 1,432,553 131,865 28,043,670 12,060,895 713,480 5,275,534 - 55,591 1,555,361 129,742 19,790,603

* Forms part of “Change in Valuation of Liability in respect of life policies-Gross” in the Revenue Account

Note: The Policyholder Liabilities are adequately backed by Policyholder Investments, Cash and Bank Balances and Other assets. (Please refer to Schedule no 16- Note-17).

5 Contingent liabilities


1. Partly paid-up investments - -

2. Underwriting commitments outstanding (in respect of shares and securities) - -

3. Claims, other than against policies, not acknowledged as debts by the company - -

4. Guarantees given by or on behalf of the Company 950 1,020

5. Statutory demands/ liabilities in dispute, not provided for (Service Tax) 758,973 -

6. Reinsurance obligation to the extent not provided for in accounts - -

7. Others – Insurance claims in appeal net of provision (Gross value of claims ` 335,850 (2013 – ` 327,257), out of which reinsured ` 88,941 (2013 - ` 1,02,455) and provision ` 162,314 (2013 ` 1,10,540)

84,595 114,262

Total 844,518 115,282

6 Computation of managerial remuneration

(i) ManagingDirector’sremuneration,whichisincludedunder“Employees’remunerationandwelfarebenefits”,isasfollows:


a. Salary and Perquisites 15,918 13,960

b. Contribution to provident and other funds 2,149 1,985

Total 18,067 15,945

Note:

(a) The managerial remuneration is in accordance with the requirements of section 34A of the Insurance Act, 1938 and as approved by IRDA.

(b) The managerial remuneration does not include provision for gratuity and leave encashment (except in case of final settlement). Gratuity and leave encashment is accrued based on an actuarial valuation for the Company’s overall liability.

(ii) Sitting fees paid to Independent Directors amounts to ` 120 (2013 – ` 200).





7 Capital commitments


Estimatedamountofcontractsremainingtobeexecutedoncapitalaccountandnotprovidedfor (net of advances)

79,784 59,862

8 Extent of risk retained and reinsured.


Risk Retained (in million) 1,859,527 1,344,402

Risk Reinsured (in million) 732,103 804,799

Percentage of Risk Retained 71.75% 62.55%

Percentage of Risk Reinsured 28.25% 37.45%

9 Business sector-wise


Rural Sector

No. of Policies 33,944 36,091

Gross Premium Underwritten 324,882 396,615

Percentage of Policies 21.22% 21.30%

Social Sector

No. of Policies 41 18

No. of Lives 1,352,611 509,272

Gross Premium Underwritten 146,744 36,668

Percentage of Policies 4.35% 2.33%

10 Accumulated fund addition to participating policyholders

The Board of Directors has at its meeting held on April 25, 2014 declared the following rates of bonus on participating policies:

a) On Accumulation non retirement products: 4% p.a. cash bonus in addition to the guaranteed rate of 3% costing ` 429,388 (2013- ` 317,964) to meet an effective rate of 7%.

b) On Accumulation retirement products: 5 % p.a. cash bonus in addition to the guaranteed rate of 3% costing ` 31,658 (2013- ` 29,213) to meet an effective rate of 8%.

c) On the Reversionary bonus products: 2% Simple Reversionary bonus for all plans, 2.25% Simple Reversionary bonus for policies completing 5thpolicy year in Surakshit Jeevan Plan and Eternal Life Plans, 2.5% for the regular premiumpaying termpolicies and3% for limitedpremiumpayingtermpoliciesinClassicEndowmentPlanandPremiereMoneyBackPlan,thecostofbonusbeing` 95,210 (2013- ` 76,179). ForPremiereEndowmentPlan,abonus rateof5% isguaranteedfor thefirstfiveyears, thecostofbonus forwhich is included in themathematical reserves.

The Board of Directors had at its meeting held on April 29, 2013 declared the following rates of interim and terminal bonuses for participating policies leaving the fund during FY2014:

a) On Accumulation non retirement products: An interim bonus of 2% p.a. costing ` 9,544 ( 2013 - ` 6,519 ) for the policies matured, claimed death benefit or surrendered during the year. Additionally, terminal bonus of 15% p.a. costing ` 47,423 (2013 - ` 14,009 ) for the policies matured, claimed death benefit during the year.

b) On Accumulation retirement products: An interim bonus of 3% p.a. costing ` 1,823 (2013 - ` 1,173) for the policies matured, claimed death benefit or surrendered during the year. Additionally, terminal bonus of 10% p.a. costing ` 2,598 ( 2013 - ` 2,493 ) for the policies matured, claimed death benefit during the year.

Transfer from the policyholders’ account to the shareholder’s account

In the year under review, a transfer of ` 68,627 (2013: ` 49,728) was made from the Participating policyholders account to the shareholders account being the surplus in the participating policyholders accounts subject to the maximum of 1/9th of the bonus declared during the year to




the participating policyholders. A transfer of ̀ 8,451 ( 2013 : Nil ) was made from the General Annuity Policyholders Account, transfer of ̀ 591,321 (2013 : ` 469,922 ) was made from the Unit Linked Pension Policyholders Account and ` 13,38,011 (2013: ` 13,05,370) was made from Unit Linked account to the shareholders account which represented the surplus in those accounts.

11 Contribution made to the policyholders’ account

In the year under review, the shareholders contributed ` 230,589 (2013 - ` 408,008 ) to the Life Non Participating Policyholders Account, ` 6,000 (2013 - ` Nil ) to the Life Non - Participating Variable (VIP) Policyholders Account & ` Nil (2013-` 4,213 ) to General annuity policyholders account to meet fully the deficit in that account.

12 Encumbrances on assets

Apart from following amount of ` 1,064,793 (2013 – ` 420,247) marked under lien, there are no encumbrances on the assets of the company as at the balance sheet date. Breakup of the same are as follows :


With National Securities Clearing Corporation Limited 65,000 65,000

With Indian Clearing Corporation Limited 15,000 15,000

With The Post Master General 1,200 1,200

Securities margin with CCIL 900,193 314,147

Cash margin with CCIL 83,200 24,700

WithJ&KSalesTaxDepartment 200 200

Total 1,064,793 420,247

13 Operating lease commitments

In accordance with Accounting Standard 19 on Accounting of Leases issued by the Institute of Chartered Accountants of India, details of leasing arrangements entered into by the company are given below.

The Company has taken various office and residential premises on operating lease and leave and license agreements. Lease payments are recognized in the Revenue Account under ‘Rent, Rates and Taxes’. The lease term varies from three to nine years and renewable at the option of the company. There are no restriction imposed by lease arrangements. There are no sub leases. The future minimum lease payments under non-cancellable operating lease period for such premises are as follows:


Not later than one year 205,713 185,473

Later than one year not later than five years 556,786 573,297

Later than five years 82,694 65,953

The total operating lease rentals charged to Revenue account in the current year is ` 203,402 (2013 - ` 183,614)

14 (a) Ratios (in per cent/ times)

Sr. no.


1 New business premium income growth

Life Participating 0.66 1.15

Pension Participating - (0.01)

Life Non Participating 1.59 1.37

Life Non - Participating Variable(VIP) 1.00 -

General Annuity 1.15 -

Unit Linked Life 0.77 0.80

Unit Linked Pension 1.82 0.24

2 Net retention ratio 98.15% 98.06%

3 Ratio of expenses of management 26.66% 24.95%

4 Commission ratio (Gross) 5.08% 4.31%

5 Ratio of policyholders’ liabilities to shareholders’ funds 1057.81% 1255.48%

6 Growth rate of shareholders’ funds 29.79% 30.96%





Sr. no.


7 Ratio of surplus to policyholders’ liabilities 0.70% 0.25%

8 Change in net worth 2,391,336 1,897,383

9 Profit after tax/ Total Income 6.25% 5.00%

10 (Total real estate + loans)/ (Cash + Invested Assets) 0.48% 0.49%

11 Total Investments/ Net worth 1161.79% 1365.89%

12 Total affiliated investments/ (Capital + Surplus) 14.08% 16.09%

13 InvestmentYield(GrossandNet)-ExcludingLinkedFund

a) With Realised Gains:

Non Linked - Participating 4.07% 13.17%

Non Linked - Non-Participating 2.39% 12.70%

Sub Total : Non Linked 3.49% 13.04%

Linked - Participating - -

Linked - Non Participating 9.03% 11.70%

Sub Total : Linked 9.03% 11.70%

Grand Total : Non Linked + Linked 4.09% 12.79%

Shareholders’ Fund 5.64% 11.21%

b) Without Realised Gains:

Non Linked - Participating 2.11% 12.16%

Non Linked - Non-Participating 1.18% 12.67%

Sub Total : Non Linked 1.79% 12.30%

Linked - Participating - -

Linked - Non Participating 4.00% 11.58%

Sub Total : Linked 4.00% 11.58%

Grand Total : Non Linked + Linked 2.03% 12.16%

Shareholders’ Fund 5.17% 11.21%

14 Conservation Ratio

Life Participating 82.42% 79.13%

Pension Participating 85.91% 88.29%

Life Non Participating 81.26% 72.60%

Life Non - Participating Variable(VIP) - -

General Annuity - -

Unit Linked Life 67.41% 69.19%

Unit Linked Pension 42.80% 73.74%

15 NPA Ratio

Gross NPA Ratio Nil Nil

Net NPA Ratio Nil Nil

14 (b) Computation under Rule 17D of insurance Rules, 1939

During the current year, the Company has made computations for Rule 17D of Insurance Rules, 1939, forming part of IRDA regulations. This ratioiscomputedonthebasisthatGroupGratuity,SuperannuationandLeaveEncashmentpolicycontractsare,unlessspecificallyterminated,automatically renewed on the First Renewal date and on the same day of each year, thereafter. As such policies are generally perpetual in nature, first year premiums on such policy contracts have been treated as regular term policies with a twelve year term.

15 Investments

(a) All the investments of the Company are performing investments in accordance with the directions issued by the Insurance Regulatory and Development Authority.

(b) For the purposes of meeting the requirement of Section 7 of the Insurance Act, 1938, the Company has earmarked securities relating to 7.17% Government of India, 2015, having face value of ` 150,000 in constituent SGL Account with its Bankers (2013- 7.27% Government of India, 2013, having face value of ` 150,000). These investments are classified under Investments - Shareholders’ (Refer Schedule 8).




(c) Value of contracts in relation to investments for:


Purchases where deliveries are pending 2,459,744 367,478

Sales where payments are due 1,830,962 1,377,387

(d) Particulars 2014 2013

Revenue Account Profit & Loss Account

Revenue Account Profit & Loss Account

Interest, Dividends and Rent- Gross 6,082,185 691,145 5,072,150 504,679

Add/(Less) : Discount on accretion/(Premium on investments amortized )

465,636 4,031 249,939 14,863

Interest, Dividends and Rent- Net of amortisation

6,547,821 695,177 5,322,089 519,542

(e) Others payable in schedule 13 include ̀ 813,207 ( 2013 : ̀ 1,313,143 ) payable to unit linked policyholders towards change in net unit liability whichwillbeinvestedonthefirstinvestmentdayinthenextfinancialyear.Asnocashflowswereinvolvedinthecurrentperiodinrespectofthesetransactions,theseamountshavenotbeenreflectedintheCashFlowStatements.

16 Related parties disclosures

The disclosures relating to related parties as required by Accounting Standard 18 on Related Parties Disclosures by the Institute of Chartered Accountants of India are as under.

A Related Parties where control exists

Nature of relationship Related Party

Holding Company Kotak Mahindra Bank Limited

B Related parties where transactions have taken place during the years ended March 31, 2014 and March 31, 2013

(i) Holding Company Kotak Mahindra Bank Limited

(ii) JointVenturer Old Mutual Plc

(iii) Enterpriseinwhichjointventurerhassignificantinfluence Old Mutual Life Assurance Company (South Africa) Limited

(iv) Fellow Subsidiaries Kotak Mahindra Prime Limited

Kotak Securities Limited

Kotak Mahindra Capital Company Limited

Kotak Mahindra Asset Management Company Limited

Kotak Mahindra Trusteeship Service Limited

Kotak Investment Advisors Limited

Kotak Mahindra Pension Fund Limited

(v) Enterprises in which key management personnel havesignificantinfluence

Kotak Life Insurance Superannuation Fund

KotakMahindraOldMutualLifeInsuranceEmployeesGratuityFund

(vi) Enterprisesinwhichrelativesofkeymanagementpersonnelhavesignificantinfluence

Kotak Commodities Services Limited

(vii) Key management personnel Non-ExecutiveDirectors

Mr Uday Kotak, Chairman

Mr Shailesh Devchand, Vice-Chairman

Mr Dipak Gupta, Director

Mr Gaurang Shah, Director

Mr Ralph Mupita (up to March 27, 2013)

Mr David Buenfil (w.e.f. 29-04-2013)

Managing Director

Mr G. Murlidhar





C. The following are transactions and closing balances of related parties in the ordinary course of business:

Nature of transaction Name of the Company / Person

2013-14 2012-13

Holding Company

Joint Venturer

Fellow Subsidiaries

Others Holding Company

JointVenturer

Fellow Subsidiaries

Others

Assets / Liabilities

Bank Balance Kotak Mahindra Bank Ltd 440,769 - - - 439,731 - - -

Bank Deposits Kotak Mahindra Bank Ltd 267,138 - - - 240,465 - - -

Commercial Paper / Bonds / Debentures

Kotak Mahindra Prime Ltd

- - 1,200,000 - - - 1,050,958 -

Group Insurance Policy Deposits

Kotak Mahindra Bank Ltd 139 - - - 258 - - -

Kotak Securities Ltd - - 264 - - - 361 -


- - 1,010 - - - 1,001 -


- - - 11 - - - 23

Kotak Mahindra Asset Management Company Ltd

- - 613 - - - 320 -

Kotak Mahindra Capital Company Ltd

- - 103 - - - 42 -

Share Capital Kotak Mahindra Bank Ltd 2,602,480 - - - 2,602,480 - - -


- - 540,000 - - - 540,000 -


- - 633,668 - - - 633,668 -

Old Mutual Plc - 1,326,755 - - - 1,326,755 - -

Outstanding Receivable / (Payables)


- - (393) - - - - -

Kotak Mahindra Bank Ltd (5,532) - - - (4,004) - - -

Kotak Securities Ltd - - (1,848) - - - (205) -

Old Mutual Life Assurance Company (South Africa) Ltd

- - - (6,871) - - - (7,211)

Commission Payable Kotak Mahindra Bank Ltd 150,143 - - - 103,214 - - -


- - 29 - - - 41 -


Interest Income/ Receivable / (Payable)

Kotak Mahindra Bank Ltd 1,662 - - - 2,495 - - -


- - 89,189 - - - 73,535 -

Transactions

Purchase of Fixed Assets Kotak Securities Ltd - - - - - - 273 -

Purchase of Investment Kotak Mahindra Bank Ltd 21,901,775 - - - 20,897,300 - - -

Sale of Fixed Assets Kotak Mahindra Bank Ltd - - - - 14 - - -


- - 763 - - - - -

Bank Deposit Placed Kotak Mahindra Bank Ltd 725,918 - - - 621,762 - - -

Bank Deposit Redeem Kotak Mahindra Bank Ltd 699,245 574,126 - - -

Purchase of Commercial Paper / Bonds / Debentures


- - 750,000 - - - 1,000,000 -

Sale of Commercial Paper / Bonds / Debentures


- - 600,000 - - - - -

Sale of Investment Kotak Mahindra Bank Ltd 4,149,544 - - - 2,780,006 - - -




Nature of transaction Name of the Company / Person

2013-14 2012-13

Holding Company

Joint Venturer

Fellow Subsidiaries

Others Holding Company

JointVenturer

Fellow Subsidiaries

Others

BrokerageExpenses Kotak Securities Ltd - - 14,923 - - - 15,462 -

Bank Charges Kotak Mahindra Bank Ltd 4,236 - - - 4,271

Commission Paid Kotak Mahindra Bank Ltd 524,765 - - - 413,577 - - -

Kotak Securities Ltd - - 2,844 - - - 8,520 -


- - 376 - - - 516 -

Reimbursements from Companies


Kotak Mahindra Pension Fund Ltd

- - 1,375 - - - - -


- - 2 - - - - -

Kotak Securities Ltd - - 5 - - - - -

Reimbursements to Companies


- - 384 - - - - -




- - 208 - - - - -

Remuneration of Key Management Personnel

Key Management Personnel

- - - 18,067 - - - 15,945

Receipt of Premium Key Management Personnel

- - - 267 - - - 297

Interest Income/(Expense)



- - 94,047 - - - 120,347 -

Premium Income Kotak Mahindra Asset Management Company Ltd

- - 3,926 - - - 334 -



- - 417 - - - 485 -


- - - 12 - - - 126

Kotak Securities Ltd - - 362 - - - 1,856 -


- - 251 - - - 360 -

Kotak Investment Advisors Ltd

- - 271 - - - 303 -

Kotak Mahindra Trusteeship Service Limited

- - 13 - - - 14 -

Gratuity Fund Contribution

Kotak Mahindra Old Mutual Life Insurance EmployeesGratuityFund

- - - - - - - 126,855

Superannuation Fund Contribution

Kotak Life Insurance Superannuation Fund

- - - 1,750 - - - 2,089





17.

Seg

men

tal b

alan

ce s

hee

t as

at

Mar

ch 3

1, 2

014

Parti

cula

rs Li

fe P

artic

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cipat

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Non

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ticip

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on P

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(VIP

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Uni

t Lin

ked

Uni

t Lin

ked

Pens

ion

Unal

loca

ted

Shar

ehol

ders

Tota

l

Mar

-14

Mar

-13

Mar

-14

Mar

-13

Mar

-14

Mar

-13

Mar

-14

Mar

-13

Mar

-14

Mar

-13

Mar

-14

Mar

-13

Mar

-14

Mar

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Mar

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Mar

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Mar

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Mar

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Mar

-14

Mar

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SOUR

CES

OF FU

NDS

Shar

ehol

ders’

Fund

s Sh

are

Capi

tal

- -

- -

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- -

- -

- -

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5,1

02,9

02

5,1

02,9

02

5,1

02,9

02

5,1

02,9

02

Rese

rves

and

Sur

plus

- -

- -

- -

- -

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- -

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5,3

15,1

32

2,9

23,7

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5,3

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Cred

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- -

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1

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Bo

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Polic

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Cred

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Fair

Valu

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Acc

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33,

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- -

16,

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- 5

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0 1

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Polic

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15,9

17,6

97

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7

13,4

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9,6

48,9

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5,2

75,5

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48,

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11,8

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55,

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32,5

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771

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APPL

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Fixed

Ass

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- -

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358

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Curre

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Adva

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Inc

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Adva

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Tax &

Pr

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- -

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- -

- -

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234

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2

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58

Inco

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accr

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7,3

78

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24

157

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1

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- -

- -

- -

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- -

- -

495

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3

91,9

55

Othe

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- -

- -

- -

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11,

662

13,

194

1,3

72

1,7

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294

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1

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Tota

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Ass

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12,5

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31,

605

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198

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3

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3,7

20

1,4

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123

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2

28,4

49

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20,

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62

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26

3,5

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Curre

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Pr

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Agen

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07,6

18

83,

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439

4

20

92,

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377

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138

8

6 4

4,30

5 4

5,34

9 5

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5

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-

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50,2

96

180

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Ba

lance

due

to

rein

sura

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com

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27,

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- (4

1) -

- -

- -

60,

146

-

Claim

s Out

stand

ing

27,

391

10,

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7,1

70

5,8

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9,1

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24,

141

- -

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1

11

381

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1

83,6

40

64,

740

69,

788

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- -

490

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2

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47

Uncla

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Bala

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olde

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5 1

3,69

3 5

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4

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6

5,34

7 2

2,31

4 -

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54

41

415

,115

5

34,0

05

30,

205

55,

288

- 3

6,29

9 -

- 5

43,8

31

665

,790

Curre

nt Li

abilit

ies 3

70,4

93

33,

482

451

9

9 2

93,6

82

24,

209

- -

7

44

976

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1

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,048

2

3,59

1 3

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1

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,193

2

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,194

-

- 3

,487

,176

3

,559

,214

Pr

ovisi

ons

- -

- -

- -

- -

- -

- -

- -

89,

517

94,

685

- -

89,

517

94,

685

Cont

rol A

ccou

nt 9

68,8

54

329

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8

6,99

7 1

34,0

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(194

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) 3

25,8

48

(242

) -

33,

589

2,4

28

(103

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) 1

35,3

73

560

,880

3

92,5

41

559

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8

3,61

0 (1

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,384

)(1

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,134

) -

- To

tal C

urre

nt Li

abilit

ies 1

,506

,782

4

71,0

16

99,

033

144

,606

2

94,8

30

441

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(2

42)

- 3

4,58

3 2

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1

,742

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2

,257

,415

6

85,0

73

526

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2

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,745

2

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,788

(1

,911

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)(1

,403

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)4,

921,

501

4,7

94,3

35

Net C

urre

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18. Segment-wise revenue account for the year ended March 31, 2014

Life Participating




Variable (VIP)

General Annuity

Unit Linked

Unit Linked

Pension

Total

Premium Income

First Year Premium 1,530,851 (1,496) 4,339,831 48,000 - 1,934,892 38,646 7,890,724

Renewal Premium 4,482,535 90,857 2,082,961 - - 6,692,655 940,744 14,289,752

Single Premium 103 82 2,868,171 - 60,246 1,898,772 50 4,827,424

(a) Premium Income 6,013,489 89,443 9,290,963 48,000 60,246 10,526,319 979,440 27,007,900

(b) Reinsurance Ceded (17,466) (356) (421,699) - - (58,915) (92) (498,528)

(c) Reinsurance accepted - - - - - - - -

Income from Investments - - - - - - - -

Interest, dividend & rent 1,211,985 82,263 657,529 35 10,837 3,926,914 669,081 6,558,644

Premium on investments amortized(Net)

(10,591) (591) (3,749) - (101) 3,535 674 (10,823)

(a) Interest, dividend & rent-Net

1,201,394 81,672 653,780 35 10,736 3,930,449 669,755 6,547,821

(b) Profit on sale/redemption of investments

351,236 20,619 137,658 - 1,551 6,174,485 989,809 7,675,358

(c) Loss on sale/redemption of investments

(75,678) (3,554) (45,992) - - (5,915,474) (988,903) (7,029,601)

(d) Transfer/ Gain on revaluation/change in fair value

- - - - - 3,008,026 297,056 3,305,082

Other Income - - - - - - - -

(a) Contribution from Shareholder’s Account

- - 230,589 6,000 - - - 236,589

(b) Miscellaneous income 8,517 57 3,525 16 21 4,549 (3,701) 12,984

(c) Profit/(Loss) on sale/disposal of fixed assets (Net)

412 6 636 3 4 720 67 1,848

TOTAL(A) 7,481,904 187,887 9,849,460 54,054 72,558 17,670,159 1,943,431 37,259,453

Commission

First Year Premium 367,839 (108) 614,335 - - 18,700 (578) 1,000,188

Renewal Premium 151,889 1,166 100,449 - - 73,314 12,557 339,375

Single Premium 4 1 976 - 875 31,575 - 33,431

Commission on Reinsurance Ceded

(3,039) (72) (24,913) - - (1,185) (4) (29,213)

Net Commission 516,693 987 690,847 - 875 122,404 11,975 1,343,781

OperatingExpensesrelatedtoInsurance business

1,446,982 5,564 3,072,994 6,769 745 1,198,956 95,237 5,827,247

Provision for doubtful debts - - - - - - - -

Bad debts written off - - - - - - - -

Provision for Tax 86,211 - (38,120) (990) - 136,335 (63,298) 120,138





Life Participating




Variable (VIP)

General Annuity

Unit Linked

Unit Linked

Pension

Total

Diminution in the value of investments(Net)

(5,342) - (1,194) - - (6,016) (154) (12,706)

TOTAL(B) 2,044,544 6,551 3,724,527 5,779 1,620 1,451,679 43,760 7,278,460

Claims by Death 148,487 2,296 1,589,402 - 1,500 276,841 83,904 2,102,430

Annuities/Pension payment - - - - 4,750 - - 4,750

Maturity claims, survival benefits, surrender and rider benefits.

858,506 81,200 472,003 - 2 12,667,444 2,662,694 16,741,849

Reinsurance :-Claims by death (12,859) - (309,910) - - 15,969 - (306,800)

Benefits paid(net) 994,134 83,496 1,751,495 - 6,252 12,960,254 2,746,598 18,542,229

Interim & Terminal Bonuses paid

56,967 4,421 - - - - - 61,388

Change in valuation of Liability in respect of Life policies

- - - - - - - -

(a) Gross 3,856,802 39,002 4,311,017 48,275 56,235 (123,536) 2,123 8,189,918

(b) Amount ceded in reinsurance

- - 62,421 - - 728 - 63,149

(c) Amount accepted in reinsurance

- - - - - - - -

Provision for linked liabilities - - - - - 2,240,504 (1,234,563) 1,005,941

TOTAL( C) 4,907,903 126,919 6,124,933 48,275 62,487 15,077,950 1,514,158 27,862,625

SURPLUS/(DEFICIT) (D)=(A)-(B)-(C)

529,457 54,417 - - 8,451 1,140,530 385,513 2,118,368

APPROPRIATIONS

Transfer to Shareholders’-Account

64,618 4,009 - - 8,451 1,338,011 591,321 2,006,410

Transfer to Other Reserve - - - - - - - -

Transfer to Funds for Future Appropriation

- - - - - (197,481) (205,808) (403,289)

SURPLUS/(DEFICIT) AFTER APPROPRIATION

464,839 50,408 - - - - - 515,247

SURPLUS/(DEFICIT) BROUGHT FORWARD

185,317 71,091 - - - - - 256,408

SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET

650,156 121,499 - - - - - 771,655

(a) Interim & Terminal Bonuses Paid

56,967 4,421 - - - - - 61,388

(b) Allocation of Bonus to Policyholders

524,598 31,658 - - - - - 556,256

(c) Surplus/ (Deficit) shown in the Revenue Account

464,839 50,408 - - - - - 515,247

(d) Total Surplus: [(a) + (b) + (c)]

1,046,404 86,487 - - - - - 1,132,891




18. Segment-wise revenue account for the year ended March 31, 2013

Life Participating




Variable (VIP)

General Annuity

Unit Linked

Unit Linked

Pension

Total

Premium Income

First Year Premium 2,302,772 (217) 2,678,689 - - 2,491,099 21,179 7,493,522

Renewal Premium 3,135,578 105,980 1,166,499 - - 9,261,010 2,227,735 15,896,802

Single Premium 50 39 1,865,475 - 52,532 2,469,352 74 4,387,522

(a) Premium Income 5,438,400 105,802 5,710,663 - 52,532 14,221,461 2,248,988 27,777,846

(b) Reinsurance Ceded (15,409) (309) (450,164) - - (71,945) (105) (537,932)

(c) Reinsurance accepted - - - - - - - -

Income from Investments - - - - - - - -

Interest, dividend & rent 821,833 61,695 339,899 - 1,911 3,428,380 659,779 5,313,497

Premium on investments amortized(Net)

(3,979) (9) 2,151 - (12) 9,188 1,253 8,592

(a) Interest, dividend & rent-Net

817,854 61,686 342,050 - 1,899 3,437,568 661,032 5,322,089


158,424 6,514 8,725 - 126 5,900,591 1,003,113 7,077,493


(56,620) (4,190) (7,495) - - (2,258,038) (371,503) (2,697,846)

(d) Transfer/Gain on revaluation

- - - - - (92,689) 3,505 (89,184)

Other Income - - - - - - - -

(a) Contribution from Shareholder's Account

- - 408,008 - 4,213 - - 412,221

(b) Miscellaneous income 13,392 130 (4,189) - 50 8,877 2,292 20,552

(c) Profit(Loss) on Sale of Fixed Assets

(459) (9) (482) - (4) (1,207) (186) (2,347)

TOTAL(A) 6,355,582 169,624 6,007,116 - 58,816 21,144,618 3,547,136 37,282,892

Commission

First Year Premium 533,446 (84) 310,809 - - 28,586 (2,105) 870,652

Renewal Premium 85,435 1,435 46,012 - (10) 114,077 34,825 281,774

Single Premium - 1 329 - 905 43,554 1 44,790

Commission on Reinsurance Ceded

(846) (1) (19,573) - - (2,669) (3) (23,092)

Net Commission 618,035 1,351 337,577 - 895 183,548 32,718 1,174,124

OperatingExpensesrelatedtoInsurance business

1,560,375 6,075 2,317,793 - 1,710 1,657,789 189,011 5,732,753

Provision for doubtful debts - - - - - - - -

Bad debts written off - - - - - - - -

Provision for Tax 8,421 - (22,961) - - 73,177 - 58,637


5,342 - 1,194 - - 6,016 154 12,706

TOTAL(B) 2,192,173 7,426 2,633,603 - 2,605 1,920,530 221,883 6,978,220





Life Participating




Variable (VIP)

General Annuity

Unit Linked

Unit Linked

Pension

Total

Claims by Death 127,601 2,171 1,131,267 - - 413,772 76,126 1,750,937

Annuities/Pension payment - - - - - - - -

Maturity claims, survival benefits, surrender and rider benefits.

510,786 45,933 310,841 - 620 12,361,137 3,224,885 16,454,202

Reinsurance :-Claims by death (9,960) - (300,282) - - (73,551) - (383,793)

Benefits paid(net) 628,427 48,104 1,141,826 - 620 12,701,358 3,301,011 17,821,346

Interim Bonuses paid 20,519 3,671 - - - - - 24,190

Change in valuation of Liability in respect of Life policies

- - - - - - - -

(a) Gross 3,364,823 77,683 2,196,647 - 55,591 (420,480) 71,670 5,345,934

(b) Amount ceded in reinsurance

- - 35,040 - - 142 - 35,182

(c) Amount accepted in reinsurance

- - - - - - - -

Provision for linked liabilities - - - - - 6,229,444 (225,801) 6,003,643

TOTAL( C) 4,013,769 129,458 3,373,513 - 56,211 18,510,464 3,146,880 29,230,295

SURPLUS/(DEFICIT) (D)=(A)-(B)-(C)

149,640 32,740 - - - 713,624 178,373 1,074,377

APPROPRIATIONS

Transfer to Shareholders’-Account

46,074 3,654 - - - 1,305,370 469,922 1,825,020

Transfer to Other Reserves (to be specified)

- - - - - - - -

Transfer to Funds for Future Appropriation

- - - - - (591,746) (291,549) (883,295)

SURPLUS/(DEFICIT) AFTER APPROPRIATION

103,566 29,086 - - - - - 132,652

SURPLUS/(DEFICIT)BROUGHTFORWARD

81,751 42,005 - - - - - 123,756

SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET

185,317 71,091 - - - - - 256,408

(a) Interim Bonuses Paid 20,519 3,671 - - - - - 24,190

(b) Allocation of Bonus to Policyholders

394,143 29,213 - - - - - 423,356

(c) Surplus/ (Deficit) shown in the Revenue Account

103,566 29,086 - - - - - 132,652

(d) Total Surplus: [(a) + (b) + (c)]

518,228 61,970 - - - - - 580,198




19 Statement showing the Controlled Fund (IRDA Cir No: IRDA/F&I/CIR/F&A/045/03/2010 dtd March 17, 2010)

(` in crores) (` in crores)

2013-14 2012-13

1 Computation of Controlled fund as per the Balance Sheet

Policyholders’ Fund (Life Fund)

Participating

Individual Assurance 1,656.79 1,224.62

Individual Pension 87.40 78.46

Any other - -

Non-participating

Individual Assurance 437.55 201.30

Group Assurance 527.35 326.26

Life Variable (VIP) 4.83

Individual Annuity 11.18 5.56

Any other - -

Linked

Individual Assurance 6,564.19 6,443.91

Group Assurance - -

Individual Pension 937.60 1,062.42

Group Superannuation 52.43 50.86

Group Gratuity 719.99 628.50

Any other - -

Funds for Future Appropriations 15.15 55.48

Total (A) 11,014.45 10,077.36

Shareholders’ Fund

Paid up Capital 510.29 510.29

Reserves & Surpluses 531.51 292.38

Fair Value Change

Total (B) 1,041.80 802.67

Misc. expenses not written off - -

Credit / (Debit) from P&L A/c. - -

Total (C ) - -

Total shareholders’ funds (B+C) 1,041.80 802.67

Controlled Fund (Total (A+B+C)) 12,056.26 10,880.03






2013-14 2012-13

2 Reconciliation of the Controlled Fund from Revenue and Profit & Loss Account

Opening Balance of Controlled Fund 10,880.03 9,626.88

Add:Inflow

Income

Premium Income 2,700.79 2,777.78

Less: Reinsurance ceded (49.85) (53.79)

Net Premium 2,650.94 2,723.99

Investment Income 1,049.87 961.26

Other Income 1.48 1.82

Funds transferred from Shareholders’ Accounts 23.66 41.22

Total Income 3,725.95 3,728.29

Less: Outgo

(i) Benefits paid (Net) 1,854.22 1,782.14

(ii) Interim Bonus Paid 6.14 2.42

(iii) Change in Valuation of Liability 885.57 1,050.15

(iv) Commission 134.38 117.41

(v) OperatingExpenses 581.45 574.55

(vi) Provision for Taxation 12.01 5.86

Total Outgo 3,473.78 3,532.52

Surplus of the Policyholders’ Fund 252.17 195.77

Less: transferred to Shareholders’ Account 200.64 182.50

Net Flow in Policyholders’ account 51.52 13.27

Add: Net income in Shareholders’ Fund 239.13 189.74

Net In Flow / Outflow 11,170.68 9,829.88

Add: change in valuation Liabilities 885.57 1,050.15

Add: Increase in Paid up Capital - -

Closing Balance of Controlled Fund 12,056.26 10,880.04

As Per Balance Sheet 12,056.26 10,880.04

Difference, if any - -





2013-14 2012-13

3 Reconciliation with Shareholders’ and Policyholders’ Fund

Policyholders’ Funds

3.1 Policyholders’ Funds - Traditional-PAR and NON-PAR

Opening Balance of the Policyholders’ Fund 1,836.19 1,249.95

Add: Surplus/(deficit) of the Revenue Account 51.52 13.27

Add: change in valuation Liabilities 837.38 572.97

Total 2,725.09 1,836.19

As per Balance Sheet 2,725.09 1,836.19


3.2 Policyholders’ Funds - Linked

Opening Balance of the Policyholders’ Fund 8,241.16 7,764.00

Add: Surplus/(deficit) of the Revenue Account - -

Add: change in valuation Liabilities 48.20 477.16

Total 8,289.36 8,241.16

As per Balance Sheet 8,289.36 8,241.16


Shareholders’ Funds

Opening Balance of Shareholders’ Fund 802.67 612.93

Add: net income of Shareholders’ account (P&L) 239.13 189.74

Add: Infusion of Capital - -

Closing Balance of the Shareholders’’ fund 1,041.80 802.67

As per Balance Sheet 1,041.80 802.67






20 Summary of financial statements

Sr. no.

Particulars 2014 2013 2012 2011 2010

Policyholders’ Account

1 Gross premium income 27,007,900 27,777,846 29,374,331 29,755,081 28,680,489

2 Net premium income 26,509,372 27,239,915 28,929,202 29,409,630 28,498,526

3 Income from investments (Net of Amortisation)

10,498,660 9,612,551 2,566,029 6,536,736 10,539,243

4 Other income 251,421 430,425 16,875 129,726 205,920

5 Total Income 37,259,453 37,282,891 31,512,106 36,076,092 39,243,689

6 Commission & Brokerage 1,343,781 1,174,124 1,121,193 1,301,669 1,679,165

7 Operating expenses related to insurance business including Provision for Tax

5,947,385 5,791,388 5,546,027 5,800,575 5,738,369

8 Provisions for Diminution in value of investments (net)

(12,706) 12,706 - - (71,688)

9 Total Expenses 7,278,460 6,978,218 6,667,220 7,102,244 7,345,846

10 Benefits paid 18,542,229 17,821,346 14,349,423 10,361,522 4,966,829

11 Interim Bonus Paid 61,388 24,194 2,533 - -

12 Increase in actuarial liability 8,253,067 5,381,113 2,838,027 2,334,675 2,165,947

13 Provision for Linked Liabilities 1,005,941 6,003,643 6,459,042 15,410,771 23,075,443

14 Surplus/ (Deficit) (before appropriation)

2,118,368 1,074,377 11,958,629 866,880 1,689,624

Shareholders’ Account

15 Total income under shareholders’ Account

2,738,386 2,344,123 2,036,569 1,121,240 912,744

16 TotalExpensesundershareholder’sAccounts

244,503 419,470 4,087 96,495 220,498

17 Profit/ (Loss) before tax 2,493,883 1,924,653 2,032,483 1,024,745 692,246

18 Provision for tax 102,549 27,270 - - -

19 Profit/ (Loss) after tax 2,391,334 1,897,383 2,032,483 1,024,745 692,246

20 Balance at the beginning of the year 2,403,435 506,052 (1,526,430) (2,551,175) (3,243,421)

21 Profit/ (Loss) carried to Balance Sheet

4,794,769 2,403,435 506,053 (1,526,430) (2,551,175)

22 (A) Policyholders’ account:

Total Funds 28,874,015 20,047,027 14,533,631 11,674,996 9,339,430

Total Investments 31,566,578 22,612,172 17,328,641 12,836,740 10,147,431

Yield on Investments (%) 4.09% 12.79% 7.04% 8.63% 7.69%

(B) Shareholders’ account:

Total Funds 10,418,034 8,026,700 6,129,319 4,096,836 3,072,090

Total Investments 8,139,638 6,296,974 4,303,890 3,222,635 2,491,819

Yield on Investments (%) 5.64% 11.21% 7.42% 8.03% 8.90%

23 Yield on Total Investments 4.46% 12.40% 7.12% 8.50% 7.96%

24 PaidupEquityCapital 5,102,902 5,102,902 5,102,902 5,102,902 5,102,902

25 Net Worth 10,418,034 8,026,700 6,129,319 4,096,836 3,072,090

26 Total Assets 120,621,247 108,800,272 96,269,144 85,636,339 66,871,017

27 Earningspershare(`) 4.69 3.72 4 2.01 1.36

28 Book Value per share ( `) 20.42 15.73 12.01 8.03 6.07




21 Earnings per share

EarningsPerShare is calculatedbydividing theProfits/(Loss) in theShareholders’Accountby theweightedaveragenumberofequity sharesoutstanding during the year. The numbers used in calculating basic and diluted earnings per equity share are as follows :


Profit/ (Loss) before taxation and before exceptional items 2,493,883 1,924,653

Profit/ (Loss) after taxation 2,391,334 1,897,383

Weighted average number of shares 510,290,249 510,290,249

Earningspersharebeforeexceptionalitems(BasicandDiluted) 4.69 3.72

Earningspershare(BasicandDiluted) 4.69 3.72

Face value per share ` 10 ` 10

22 Employee share option plans (ESOP)

At the General Meetings of the holding company, Kotak Mahindra Bank Limited, (“the Bank”), the shareholders of the Bank had unanimously passedSpecialResolutionson5thJuly,2007and21stAugust,2007tograntoptionstotheeligibleEmployeesoftheBankanditssubsidiarycompanies.Pursuanttotheseresolutions,‘KotakMahindraEquityOptionScheme2007’hadbeenformulatedandadopted.

Consequenttotheabove,theBankhasgrantedstockoptionstoemployeesoftheCompany.InaccordancewiththeSEBIGuidelinesandtheguidancenoteon“AccountingforEmployeeSharebasedpayments”,theexcess,ifany,ofthemarketpriceoftheshare,precedingthedateofgrantoftheoptionunderESOSsovertheexercisepriceoftheoptionisamortisedonastraight-linebasisoverthevestingperiod. TheCompanyhas reimbursed the Bank ` 1,133 (2013 - `3,109)duringtheyearonaccountofsuchcostsandthesameisformingpartofEmployeecostsandincludedunderthehead“Employees’remunerationandwelfarebenefits”inSchedule-3

Stock appreciation rights (SARs)

During the year , the Company had granted SARs of the equity shares of the holding company, Kotak Mahindra Bank Limited, to eligible employees as and when deemed fit. The SARs are to be settled in cash and will vest in the manner as provided in the scheme / grant letters to such eligible employees.

The contractual life (equivalent to the vesting period) of the SARs ranges from within one year to four years.

Detail of activity under SARs plan is summarized below:

No. of SARs


Outstanding at the beginning of the year 45,271 39,200

Granted during the year 41,678 18,869

Exercisedduringtheyear 42,508 9,800

Expiredduringtheyear Nil Nil

Transferred during the year 185 490

Forfeited during the year 1,341 2,508

Outstanding at the end of the year 42,915 45,271

EffectofgrantofESOP&SARstoemployeesontheRevenue/ProfitandLoss Accountandonitsfinancialposition


TotalEmployeeCompensationCostpertainingtoshare-basedpaymentplans 37,324 15,549

Closing balance of liability for cash-settled options 21,230 16,123

Had the company recorded the compensation cost computed on the basis of fair valuation method in stead of intrinsic value method, employee compensation cost would have been lower by ` 6 (Previous Year higher by ` 6) and the profit after tax would have been higher by ` 6 ( Previous year lower by `6).ConsequentlythereisnosignificantimpactonEPS.





23 Micro, Small and Medium Enterprises Development Act, 2006.

TheCompanyhasnotreceivedanyintimationfrom“suppliers”regardingtheirstatusundertheMicro,SmallandMediumEnterprisesDevelopmentAct, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been given.

24 (a) Disclosure of certain expenses

As required under Circular no 067/IRDA/F&A/CIR/MAR -08 dated March 28, 2008, expenses incurred under the following heads are as follows:


(i) OutsourcingExpenses 271,180 137,801

(ii) Business Development 191,967 124,687

(iii) Marketing Support 151,656 262,851

(b) Disclosure other works given to Auditors

Pursuant to clause 7.1 (g) of Corporate Governance Guidelines issued by IRDA on August 5, 2009 the remuneration paid to Statutory Auditors for services other than statutory audit are disclosed below:

Name Nature 2014 2013

Walker Chandiok & Co LLP Certification Work 129 83

(c) Service Tax Expenditure

ThedetailsofServiceTaxExpenseschargedtoOperatingExpenses(Schedule-3)isdisclosedasbelow:


Service tax recovered from the fund of the ULIP Policyholders 299,366 392,639

Service tax borne by the Company 19,345 4,354

318,711 396,993

25 Unit Linked Disclosures Norms

Unit Linked Disclosures made hereunder are in accordance with the instructions received from the Insurance Regulatory & Development Authority videcircularnumbers054/IRDA/FandA/FEB-07datedFebruary20,2007andIRDA/F&A/001/Apr-07dated16thApril,2007

25A Unit Linked Disclosures - Revenue Account

REVENUE ACCOUNT FOR THE YEAR ENDED 31st March 2014

Policyholders’ Account (Technical Account)

Particulars Schedule Linked Life Linked Pension Linked Group Total Unit Linked

Non-Unit Unit Total Non-Unit Unit Total Non-Unit Unit Total

(1) (2) (3)=(1) + (2)

(4) (5) (6)=(4) + (5)

(7) (8) (9)= (7) + (8)

(10)=(3)+ (6)+(9)

Premiums earned – net

(a) Premium 197,145 8,877,981 9,075,126 54,722 924,718 979,440 24,052 1,427,140 1,451,192 11,505,758

(b) Reinsurance ceded (58,610) (58,610) (91) (91) (305) (305) (59,006)

Income from Investments

(a) Interest, Dividend & Rent - Gross (Net of amortization)

181,038 3,262,198 3,443,236 39,389 630,366 669,755 3,245 483,968 487,213 4,600,204


124,062 5,660,953 5,785,015 25,012 964,797 989,809 465 389,004 389,469 7,164,293






(1) (2) (3)=(1) + (2)

(4) (5) (6)=(4) + (5)

(7) (8) (9)= (7) + (8)

(10)=(3)+ (6)+(9)


(10,663) (5,374,071) (5,384,734) (284) (988,619) (988,903) (305) (530,434) (530,739) (6,904,376)

(d) Unrealised gain/(loss) #

- 2,890,023 2,890,023 - 297,057 297,057 - 118,002 118,002 3,305,082

(e) Misc. Income - - - 0 0 - - - 0

Other income:

(a) Linked Income UL1 2,625,927 (2,625,927) - 615,893 (615,893) - 84,137 (84,137) - -

(b ) Contribution from the Shareholders’ a/c

- - - -

(c ) Other Income 4,053 4,053 (3,701) (3,701) 496 496 848

(d ) Loss on Sale of Fixed asset

621 621 67 67 99 99 787

TOTAL (A) 3,063,573 12,691,157 15,754,730 731,007 1,212,426 1,943,433 111,885 1,803,543 1,915,427 19,613,590

Commission 121,933 - 121,933 11,976 - 11,976 472 - 472 134,381

OperatingExpensesrelated to Insurance Business

1,115,566 - 1,115,566 95,238 - 95,238 83,389 - 83,389 1,294,193

Provision for Taxation 138,269 - 138,269 (63,298) - (63,298) (1,934) - (1,934) 73,037


(6,014) - (6,014) (154) - (154) (3) - (3) (6,171)

TOTAL (B) 1,369,754 - 1,369,754 43,762 - 43,762 81,924 - 81,924 1,495,440

Benefits Paid (Net) UL2 201,494 11,821,227 12,022,721 26,669 2,719,929 2,746,598 7,444 930,088 937,532 15,706,851

Interim Bonus Paid - - - -

Change in Valuation Liability

(121,992) 1,324,737 1,202,745 2,123 (1,234,563) (1,232,440) (815) 915,767 914,952 885,257

TOTAL (C) 79,502 13,145,964 13,225,466 28,792 1,485,366 1,514,158 6,629 1,845,855 1,852,484 16,592,108

SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C)

1,614,317 (454,807) 1,159,510 658,453 (272,940) 385,513 23,332 (42,313) (18,981) 1,526,042

APPROPRIATIONS

Insurance reserve at the beginning of the year

-

Transfer to Shareholders’ a/c

1,356,991 1,356,991 591,321 591,321 (18,981) (18,981) 1,929,331

Funds available for future appropriations

(197,481) (197,481) (205,808) (205,808) - (403,289)

Total (D) 1,356,991 (197,481) 1,159,510 591,321 (205,808) 385,513 (18,981) - (18,981) 1,526,042

# Note : Unrealised Gain Loss in Non Unit Linked portion is as follows:

(d) Unrealised gain/(loss) - - - - - - - - - -






Schedules to Annexure to Revenue Account (UL) forming part of Financial Statements

Schedule-UL1 for the year ended 31 March 2014

Linked Income (recovered from linked funds)*

Particulars Life Linked Unit Pension Linked Unit

Linked Group Unit

Total

(1) (2) (3) (4)= (1)+(2)+(3)

Fund Administration charges -

Fund Management charge 930,584 132,651 60,017 1,123,252

Policy Administration charge 480,532 144,793 - 625,325

Surrender charge** 451,286 260,033 1 711,320

Switching charge 271 36 - 307

Mortality charge 426,001 1,196 14,790 441,987

Rider Premium charge 40,662 - - 40,662

Partial withdrawal charge - - - -

Miscellaneous charge 6,550 7,845 67 14,462

ServicetaxandEducationCess 290,041 69,339 9,262 368,642

TOTAL (UL-1) 2,625,927 615,893 84,137 3,325,957

* (net of service tax, if any)

** Surrender charge includes partial surrender charge


Schedule–UL2 for the year ended 31 March 2014

BENEFITS PAID [NET]

Sl. No.

Particulars Linked Life Linked Pension Linked Group Total Unit Linked

Non Unit Unit Linked Life Non-Unit Unit Linked Pension

Non-Unit Unit Linked Group

(1) (2) (3)=(1)+(2) (4) (5) (6)=(4)+(5) (7) (8) (9)=(7)+(8) (10)=(3)+ (6)+(9)

1 Insurance Claims

(a) Claims by Death 164,598 104,775 269,373 1,088 82,816 83,904 7,468 - 7,468 360,745

(b) Claims by Maturity - 849,543 849,543 - 80,592 80,592 - 522,300 522,300 1,452,435

(c) Annuities / Pension payment

- - - - - - - - - -

(d) Other benefits -

- Survival - - - - - - - - - -

- Surrender 10,866,909 10,866,909 - 2,556,521 2,556,521 - 407,788 407,788 13,831,218

- Others 20,866 - 20,866 25,581 - 25,581 37 - 37 46,484

Sub Total (A) 185,464 11,821,227 12,006,691 26,669 2,719,929 2,746,598 7,505 930,088 937,593 15,690,882

2 Amount Ceded in reinsurance

(a) Claims by Death 16,030 - 16,030 - - - (61) - (61) 15,969

(b) Claims by Maturity - - - - - - - - - -




Sl. No.




(1) (2) (3)=(1)+(2) (4) (5) (6)=(4)+(5) (7) (8) (9)=(7)+(8) (10)=(3)+ (6)+(9)


- - - - - - - - - -

(d) Other benefits - - - - - - - - - -

- Surrender - - - - - - - - - -

- Survival - - - - - - - - - -

Sub Total (B) 16,030 - 16,030 - - - (61) - (61) 15,969

TOTAL (A) - (B) 201,494 11,821,227 12,022,721 26,669 2,719,929 2,746,598 7,444 930,088 937,532 15,706,851

Benefits paid to claimants:

In India 201,494 11,821,227 12,022,721 26,669 2,719,929 2,746,598 7,444 930,088 937,532 15,706,851

Outside India - - - - - - - - - -

TOTAL (UL2) 201,494 11,821,227 12,022,721 26,669 2,719,929 2,746,598 7,444 930,088 937,532 15,706,851

REVENUE ACCOUNT FOR THE YEAR ENDED 31st March 2013

Policyholders’ Account (Technical Account)



(1) (2) (3)=(1) + (2)

(4) (5) (6)=(4) + (5)

(7) (8) (9)= (7) + (8)

(10)=(3)+ (6)+(9)

Premiums earned – net

(a) Premium 305,918 12,091,977 12,397,895 12,742 2,185,299 2,198,041 15,052 1,859,461 1,874,513 16,470,449

(b) Reinsurance ceded (70,545) - (70,545) (105) - (105) (1,400) - (1,400) (72,050)

Income from Investments

(a) Interest, Dividend & Rent - Gross (Net of amortization)

260,200 2,787,392 3,047,592 30,383 607,444 637,828 826 412,355 413,181 4,098,601


14,174 5,627,303 5,641,477 2,790 965,110 967,900 56 294,270 294,326 6,903,703


(9,929) (2,154,738) (2,164,667) (3,199) (355,262) (358,462) (91) (106,321) (106,412) (2,629,541)

(d) Unrealised gain/(loss) #

- (103,946) (103,946) - 3,505 3,505 - 11,257 11,257 (89,184)

(e) Misc. Income - - - - - - - - - -

Other income:

(a) Linked Income UL1 2,736,001 (2,736,001) - 648,549 (648,549) - 66,503 (66,503) - -

(b ) Contribution from the Shareholders’ a/c

- - - - - - - - - -

(c ) Other Income 7,088 - 7,088 2,292 - 2,292 1,788 - 1,788 11,168

(d ) Loss on Sale of Fixed asset

(1,048) - (1,048) (185) - (185) (158) - (158) (1,391)

TOTAL (A) 3,241,859 15,511,987 18,753,846 693,267 2,757,547 3,450,814 82,576 2,404,519 2,487,095 24,691,755







(1) (2) (3)=(1) + (2)

(4) (5) (6)=(4) + (5)

(7) (8) (9)= (7) + (8)

(10)=(3)+ (6)+(9)

Commission 183,432 - 183,432 32,730 - 32,730 105 - 105 216,267

OperatingExpensesrelated to Insurance Business

1,584,764 - 1,584,764 187,146 - 187,146 74,888 - 74,888 1,846,798

Provision for Taxation 74,692 - 74,692 - - - (1,515) - (1,515) 73,177


6,013 - 6,013 154 - 154 3 - 3 6,170

TOTAL (B) 1,848,901 - 1,848,901 220,030 0 220,030 73,481 0 73,481 2,142,412

Benefits Paid (Net) UL2 269,532 11,979,909 12,249,441 7,872 3,253,628 3,261,500 8,705 482,726 491,431 16,002,372

Interim Bonus Paid - - - - - - - - - -

Change in Valuation Liability

(372,926) 4,292,928 3,920,002 11,671 (225,801) (214,130) 12,584 1,936,517 1,949,101 5,654,973

TOTAL (C) (103,394) 16,272,837 16,169,443 19,543 3,027,827 3,047,370 21,289 2,419,243 2,440,532 21,657,345

SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C)

1,496,352 (760,850) 735,502 453,694 (270,280) 183,414 (12,193) (14,724) (26,917) 891,999

APPROPRIATIONS

Insurance reserve at the beginning of the year

Transfer to Shareholders’ a/c

1,327,248 - 1,327,248 474,962 - 474,962 (26,917) - (26,917) 1,775,294

Funds available for future appropriations

- (591,746) (591,746) - (291,549) (291,548) - - - (883,295)

Total (D) 1,327,248 (591,746) 735,502 474,962 (291,549) 183,414 (26,917) - (26,917) 891,999

# Note : Unrealised Gain Loss in Non Unit Linked portion is as follows:

(d) Unrealised gain/(loss) (6,013) - - (154) - - - - - -

Schedule-UL1 for the year ended 31 March 2013

Linked Income (recovered from linked funds)*

Particulars Life Linked Unit Pension Linked Unit

Linked Group Unit

Total

(1) (2) (3) (4)= (1)+(2)+(3)

Fund Administration charges

Fund Management charge 1,057,996 175,200 51,435 1,284,631

Policy Administration charge 307,071 198,461 - 505,532

Surrender charge** 802,944 263,534 - 1,066,478

Switching charge 112 10 - 121

Mortality charge 510,230 1,435 15,052 526,718

Rider Premium charge 49,494 - - 49,494

Partial withdrawal charge - - - -

Miscellaneous charge 8,154 9,909 16 18,079

TOTAL (UL-1) 2,736,001 648,549 66,503 3,451,053

* (net of service tax, if any)

** Surrender charge includes partial surrender charge




Schedule–UL2 for the year ended 31 March 2013

BENEFITS PAID [NET]

Sl. No.




(1) (2) (3)=(1)+(2) (4) (5) (6)=(4)+(5) (7) (8) (9)=(7)+(8) (10)=(3)+ (6)+(9)

1 Insurance Claims

(a) Claims by Death 308,725 95,435 404,160 (997) 77,123 76,126 9,613 - 9,613 489,899

(b) Claims by Maturity - 12,423 12,423 - 3,377 3,377 - 353,589 353,589 369,389


- - - - - - - - - -

(d) Other benefits - - - - - - - - - -

- Survival - - - - - - - - - -

- Surrender - 11,872,051 11,872,051 - 3,173,128 3,173,128 - 129,137 129,137 15,174,316

- Others 33,360 - 33,360 8,869 - 8,869 90 - 90 42,319

Sub Total (A) 342,085 11,979,909 12,321,994 7,872 3,253,628 3,261,500 9,703 482,726 492,429 16,075,923

2 Amount Ceded in reinsurance

(a) Claims by Death (72,553) - (72,553) - - - (998) - (998) (73,551)

(b) Claims by Maturity - - - - - - - - - -


- - - - - - - - - -

(d) Other benefits - - - - - - - - - -

- Surrender - - - - - - - - - -

- Survival - - - - - - - - - -

Sub Total (B) (72,553) - (72,553) - - - (998) - (998) (73,551)

TOTAL (A) - (B) 269,532 11,979,909 12,249,441 7,872 3,253,628 3,261,500 8,705 482,726 491,431 16,002,372

Benefits paid to claimants:

In India 269,532 11,979,909 12,249,441 7,872 3,253,628 3,261,500 8,705 482,726 491,431 16,002,372

Outside India - - - - - - - - - -

TOTAL (UL2) 269,532 11,979,909 12,249,441 7,872 3,253,628 3,261,500 8,705 482,726 491,431 16,002,372





25B Unit Linked Disclosures - Fund Balance Sheet

Form A-BS(UL)

Fund Balance Sheet for the Year Ended 31st March 2014

Particulars Schedule Kotak Group Money Market Fund

Money Market Fund Pension Money Market Fund II

Discontinued Policy Fund

ULGF-001-27/06/03-MNMKFND-107

ULIF-041-05/01/10-MNMKKFND-107

ULIF-039-28/12/09-PNMNMKFND-107

ULIF-050-23/03/11-DISPOLFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 357,079 (559) 1,657,864 508,995 173,856 88,344 954,459 432,081

Appr/Ex-ApprReserve - - - - - - - -

Revenue Account 18,182 559 86,173 30,212 11,000 6,255 84,750 27,872

Total 375,261 - 1,744,037 539,207 184,856 94,599 1,039,209 459,953

Application of Funds

Investments F-2 375,018 - 1,586,368 473,084 187,428 93,653 1,045,080 455,329

Current Assets F-3 280 - 157,787 66,158 71 953 11 8,581

Less: Current Liabilities and Provisions

F-4 37 - 118 35 2,643 7 5,882 3,957

Net current assets 243 - 157,669 66,123 (2,572) 946 (5,871) 4,624

Total 375,261 - 1,744,037 539,207 184,856 94,599 1,039,209 459,953

Net Asset Value (NAV) per Unit:

(a) Net Asset as per Balance Sheet (Total Assets less Current Liabilities and Provisions)

375,261 - 1,744,037 539,207 184,856 94,599 1,039,209 459,953

(b) Number of Units outstanding

35,338,968 - 127,835,405

42,956,739 13,530,118 7,518,230 80,857,621 38,777,395

(c) NAV per Unit (a)/(b) (`) 10.6189 - 13.6428 12.5523 13.6626 12.5826 12.8523 11.8614

Particulars Schedule Kotak Dynamic Gilt Fund Kotak Pension Gilt Fund Kotak Group Gilt Fund Kotak Dynamic Bond Fund

ULIF-006-27/06/03-DYGLTFND-107

ULIF-008-27/06/03-PNGLTFND-107

ULGF-002-27/06/03-GLTFND-107

ULIF-015-15/04/04-DYBNDFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 250,533 346,359 59,542 90,281 126,587 133,620 7,292,113 6,133,906


Revenue Account 138,663 134,541 28,007 29,579 40,050 37,082 650,007 533,647

Total 389,196 480,900 87,549 119,860 166,637 170,702 7,942,120 6,667,553


Investments F-2 386,263 458,585 84,598 119,408 161,469 167,866 7,482,715 5,885,163

Current Assets F-3 26,251 22,373 4,532 2,515 8,088 3,342 730,962 792,544







ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


F-4 23,318 58 1,581 2,063 2,920 506 271,557 10,154

Net current assets 2,933 22,315 2,951 452 5,168 2,836 459,405 782,390

Total 389,196 480,900 87,549 119,860 166,637 170,702 7,942,120 6,667,553



389,196 480,900 87,549 119,860 166,637 170,702 7,942,120 6,667,553


19,897,470 25,024,773 4,393,447 6,126,109 8,262,510 8,627,462 366,582,073 318,019,974

(c) NAV per Unit (a)/(b) (`) 19.5601 19.2170 19.9272 19.5655 20.1679 19.7859 21.6653 20.9658

Particulars Schedule Kotak Pension Bond Fund

Kotak Group Bond Fund Kotak Group Secure Capital Fund

Kotak Dynamic Floating Rate Fund

ULIF-017-15/04/04-PNBNDFND-107

ULGF-004-15/04/04-BNDFND-107

ULGF-016-12/04/11-SECCAPFND-107

ULIF-020-07/12/04-DYFLTRFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 968,564 935,716 3,433,472 3,440,568 59,002 83,271 312,955 196,356


Revenue Account 131,286 122,131 925,818 791,446 10,184 7,955 105,555 74,903

Total 1,099,850 1,057,847 4,359,290 4,232,014 69,186 91,226 418,510 271,259


Investments F-2 1,062,552 977,230 4,126,120 3,699,702 67,153 84,185 404,698 289,557

Current Assets F-3 75,978 81,810 401,122 539,853 4,741 7,176 14,289 103,212


F-4 38,680 1,193 167,952 7,541 2,708 135 477 121,510

Net current assets 37,298 80,617 233,170 532,312 2,033 7,041 13,812 (18,298)

Total 1,099,850 1,057,847 4,359,290 4,232,014 69,186 91,226 418,510 271,259



1,099,850 1,057,847 4,359,290 4,232,014 69,186 91,226 418,510 271,259


50,583,235 50,274,860 191,400,105

192,819,351

5,447,503 7,449,118 21,505,300 15,553,703

(c) NAV per Unit (a)/(b) (`) 21.7434 21.0413 22.7758 21.9481 12.7005 12.2465 19.4608 17.4402





Particulars Schedule Kotak Pension Floating Rate Fund

Kotak Group Floating Rate Fund

Kotak Group 60M FMP 27/11/2013


ULIF-022-07/12/04-PNFLTRFND-107

ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 39,528 38,710 282,143 18,269 (35,049) 39,759 (2,416) (2,416)


Revenue Account 16,870 11,819 53,638 39,010 35,049 31,298 2,416 2,416

Total 56,398 50,529 335,781 57,279 0 71,057 0 0


Investments F-2 54,869 52,298 329,578 58,723 - 68,600 - -

Current Assets F-3 1,538 19,830 6,240 22,017 - 2,615 - -


F-4 9 21,599 37 23,461 - 158 - -

Net current assets 1,529 (1,769) 6,203 (1,444) - 2,457 - -

Total 56,398 50,529 335,781 57,279 - 71,057 - -



56,398 50,529 335,781 57,279 - 71,057 - -


2,885,959 2,884,117 16,625,336 3,176,074 - 4,698,327 - -

(c) NAV per Unit (a)/(b) (`) 19.5423 17.5199 20.1970 18.0346 - 15.1240 - -

Particulars Schedule Kotak Group 59M FMP 08/12/2013


Kotak Dynamic Balanced Fund

Kotak Guaranteed Balanced Fund

ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107

ULIF-009-27/06/03-DYBALFND-107

ULIF-010-27/06/03-GRTBALFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 (11,702) 16,864 190,991 198,641 (14,175) 37,007 616,656 808,383


Revenue Account 11,702 10,212 53,565 34,162 186,604 167,024 528,740 473,587

Total (0) 27,076 244,556 232,803 172,429 204,031 1,145,396 1,281,970


Investments F-2 - 26,251 205,710 206,997 168,930 198,051 1,116,435 1,233,867

Current Assets F-3 - 868 39,603 26,525 6,453 6,089 49,854 52,094


F-4 - 43 757 719 2,954 109 20,893 3,991

Net current assets - 825 38,846 25,806 3,499 5,980 28,961 48,103

Total - 27,076 244,556 232,803 172,429 204,031 1,145,396 1,281,970








ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year



- 27,076 244,556 232,803 172,429 204,031 1,145,396 1,281,970


- 1,900,298 19,283,511 19,927,502 4,499,390 5,973,653 33,333,943 39,882,244

(c) NAV per Unit (a)/(b) (`) - 14.2484 12.6821 11.6825 38.3228 34.1551 34.3612 32.1439

Particulars Schedule Kotak Pension Balanced Fund

Kotak Group Balanced Fund

Balanced Fund Pension Balanced Fund II

ULIF-011-27/06/03-PNBALFND-107

ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 1,593,702 2,398,130 1,435,980 1,382,651 180,908 119,278 43,283 58,254


Revenue Account 738,091 599,941 678,384 449,350 12,870 1,721 4,918 1,211

Total 2,331,793 2,998,071 2,114,364 1,832,001 193,778 120,999 48,201 59,465


Investments F-2 2,262,305 2,875,541 1,982,810 1,862,974 176,528 108,806 46,832 58,973

Current Assets F-3 101,083 130,037 163,600 64,127 22,577 13,244 2,173 1,791


F-4 31,595 7,507 32,046 95,100 5,327 1,051 804 1,299

Net current assets 69,488 122,530 131,554 (30,973) 17,250 12,193 1,369 492

Total 2,331,793 2,998,071 2,114,364 1,832,001 193,778 120,999 48,201 59,465



2,331,793 2,998,071 2,114,364 1,832,001 193,778 120,999 48,201 59,465


66,729,881 91,700,055 54,855,850 53,464,314 14,349,282 9,999,199 3,638,627 5,030,340

(c) NAV per Unit (a)/(b) (`) 34.9438 32.6943 38.5440 34.2659 13.5044 12.1009 13.2470 11.8213





Particulars Schedule Kotak Dynamic Growth Fund

Kotak Guaranteed Growth Fund

Kotak Pension Growth Fund

Kotak Aggressive Growth Fund

ULIF-012-27/06/03-DYGWTFND-107

ULIF-013-27/06/03-GRTGWTFND-107

ULIF-030-07/01/09-PNGWTFND-107

ULIF-018-13/09/04-AGRGWTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 184,806 281,719 9,074,221 12,462,986 157,564 224,790 1,551,854 2,016,483


Revenue Account 379,690 308,495 3,089,308 2,234,511 59,026 47,756 956,793 583,329

Total 564,496 590,214 12,163,529 14,697,497 216,590 272,546 2,508,647 2,599,812


Investments F-2 556,703 599,006 11,854,364 14,205,673 211,941 255,642 2,475,750 2,594,789

Current Assets F-3 15,827 6,129 535,805 508,703 7,767 19,430 73,581 7,283


F-4 8,034 14,921 226,640 16,879 3,118 2,526 40,684 2,260

Net current assets 7,793 (8,792) 309,165 491,824 4,649 16,904 32,897 5,023

Total 564,496 590,214 12,163,529 14,697,497 216,590 272,546 2,508,647 2,599,812



564,496 590,214 12,163,529 14,697,497 216,590 272,546 2,508,647 2,599,812


12,944,362 15,550,644 310,016,862 405,397,425 12,957,486 17,637,306 58,835,416 72,027,826

(c) NAV per Unit (a)/(b) (`) 43.6094 37.9543 39.2351 36.2545 16.7154 15.4528 42.6384 36.0945

Particulars Schedule Frontline Equity Fund Pension Frontline Equity Fund

Kotak Opportunities Fund

Kotak Pension Opportunities Fund

ULIF-034-17/12/09-FRLEQUFND-107

ULIF-044-11/01/10-PNFRLEQFND-107

ULIF-029-02/10/08-OPPFND-107

ULIF-032-17/07/09-PNOPPFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 1,522,123 1,288,171 240,642 261,203 5,857,776 6,522,783 133,886 158,137


Revenue Account 233,265 25,252 18,468 (6,593) 1,565,590 735,640 29,538 12,264

Total 1,755,388 1,313,423 259,110 254,610 7,423,366 7,258,423 163,424 170,401


Investments F-2 1,737,539 1,265,647 260,110 255,271 7,398,990 7,203,770 165,047 171,212

Current Assets F-3 97,776 48,590 7,018 367 269,895 67,027 5,588 837


F-4 79,927 814 8,018 1,028 245,519 12,374 7,211 1,648

Net current assets 17,849 47,776 (1,000) (661) 24,376 54,653 (1,623) (811)

Total 1,755,388 1,313,423 259,110 254,610 7,423,366 7,258,423 163,424 170,401









ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year



1,755,388 1,313,423 259,110 254,610 7,423,366 7,258,423 163,424 170,401


131,815,228 116,114,346 18,358,755 21,306,398 293,780,465 332,020,301 11,331,531 13,618,439

(c) NAV per Unit (a)/(b) (`) 13.3170 11.3115 14.1137 11.9499 25.2684 21.8614 14.4220 12.5125

Particulars Schedule Classic Opportunities Fund

Pension Classic Opportunities Fund

Dynamic Floor Fund Kotak Group Dynamic Floor Fund

ULIF-033-16/12/09-CLAOPPFND-107

ULIF-042-07/01/10-PNCLAOPFND-107

ULIF-028-14/11/06-DYFLRFND-107

ULGF-015-07/01/10-DYFLRFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 7,983,785 7,824,377 1,407,251 1,615,199 9,754,039 10,314,133 22,648 40,344


Revenue Account 1,188,818 175,680 99,140 (25,132) 498,906 423,451 15,588 17,279

Total 9,172,603 8,000,057 1,506,391 1,590,067 10,252,945 10,737,584 38,236 57,623


Investments F-2 9,100,494 7,793,615 1,509,599 1,580,659 10,317,706 10,312,207 38,342 60,115

Current Assets F-3 415,942 239,355 51,087 13,149 359,351 435,894 1,508 2,351


F-4 343,833 32,913 54,295 3,741 424,112 10,517 1,614 4,843

Net current assets 72,109 206,442 (3,208) 9,408 (64,761) 425,377 (106) (2,492)

Total 9,172,603 8,000,057 1,506,391 1,590,067 10,252,945 10,737,584 38,236 57,623



9,172,603 8,000,057 1,506,391 1,590,067 10,252,945 10,737,584 38,236 57,623


652,267,988 660,853,667 104,677,054 128,916,725 531,622,883 579,613,549 1,932,832 3,050,356

(c) NAV per Unit (a)/(b) (`) 14.0626 12.1056 14.3908 12.3341 19.2861 18.5254 19.7825 18.8907





Particulars Schedule Kotak Pension Floor Fund Dynamic Floor Fund II Pension Floor Fund II Guarantee Fund

ULIF-031-13/07/09-PNFLRFND-107

ULIF-035-17/12/09-DYFLRFND2-107

ULIF-043-08/01/10-PNFLRKFND2-107

ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 669,650 844,770 6,307,921 6,732,451 1,295,661 1,545,430 468,423 496,752


Revenue Account (1,898) 12,911 336,595 297,245 (1,423) 35,765 5,138 11,545

Total 667,752 857,681 6,644,516 7,029,696 1,294,238 1,581,195 473,561 508,297


Investments F-2 672,455 832,293 6,674,653 6,669,049 1,296,788 1,513,558 473,887 483,678

Current Assets F-3 21,710 37,583 255,145 367,975 52,971 85,103 20,071 25,688


F-4 26,413 12,195 285,282 7,328 55,520 17,466 20,397 1,069

Net current assets (4,703) 25,388 (30,137) 360,647 (2,549) 67,637 (326) 24,619

Total 667,752 857,681 6,644,516 7,029,696 1,294,238 1,581,195 473,561 508,297



667,752 857,681 6,644,516 7,029,696 1,294,238 1,581,195 473,561 508,297


53,983,195 72,082,543 535,821,939 592,931,251 104,963,522 134,034,378 36,428,473 40,898,293

(c) NAV per Unit (a)/(b) (`) 12.3696 11.8986 12.4006 11.8558 12.3304 11.7969 12.9998 12.4283

Particulars Schedule Pension Guarantee Fund Peak Guarantee Fund I Kotak Advantage Multiplier Fund

Kotak Advantage Plus Fund

ULIF-038-21/12/09-PNGRTFND-107

ULIF-049-14/02/10-PKGRTFND1-107

ULIF-024-07/02/06-ADVMULFND-107

ULIF-023-06/02/06-ADVPLSFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Sources of Funds


Policyholder contribution F-1 1,374,601 1,582,851 269,008 389,554 148 5,368 (182,484) (181,189)


Revenue Account (1,525) 43,312 27,564 23,509 16,788 16,664 182,484 182,668

Total 1,373,076 1,626,163 296,572 413,063 16,936 22,032 (0) 1,479


Investments F-2 1,387,361 1,564,633 302,332 410,244 16,360 21,040 - 1,452

Current Assets F-3 45,545 63,665 9,159 18,063 582 1,006 - 28


F-4 59,830 2,135 14,919 15,244 6 14 - 1

Net current assets (14,285) 61,530 (5,760) 2,819 576 992 - 27

Total 1,373,076 1,626,163 296,572 413,063 16,936 22,032 - 1,479








ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


1,373,076 1,626,163 296,572 413,063 16,936 22,032 - 1,479


110,759,172 137,100,444 23,716,368 34,465,553 1,130,090 1,522,626 - 90,520

(c) NAV per Unit (a)/(b) (`) 12.3970 11.8611 12.5049 11.9848 14.9865 14.4700 - 16.3392

Particulars Schedule Kotak Advantage Multiplier Fund II

Kotak Advantage Plus Fund II Total

ULIF-026-21/04/06-ADVMULFND2-107

ULIF-027-21/04/06-ADVPLSFND2-107

Current Year Previous Year Current Year Previous Year Current Year Previous Year

Sources of Funds


Policyholder contribution F-1 3,189 8,469 (127,910) (127,939) 67,934,678 71,809,313

Appr/Ex-ApprReserve - - - - - -

Revenue Account 11,798 11,362 132,348 132,387 13,394,520 8,917,234

Total 14,987 19,831 4,438 4,448 81,329,198 80,726,547


Investments F-2 14,428 19,262 4,307 4,339 79,782,611 77,271,998

Current Assets F-3 568 580 133 111 4,064,267 3,916,670

Less: Current Liabilities and Provisions F-4 9 11 2 2 2,517,680 462,121

Net current assets 559 569 131 109 1,546,587 3,454,549

Total 14,987 19,831 4,438 4,448 81,329,198 80,726,547



14,987 19,831 4,438 4,448 81,329,198 80,726,547

(b) Number of Units outstanding 999,221 1,376,358 288,232 301,670

(c) NAV per Unit (a)/(b) (`) 14.9987 14.4084 15.3978 14.7458





25C Unit Linked Disclosures - Fund Revenue Account

Form A-RA(UL)

Fund Revenue Account for the Year Ended 31st March 2014

Particulars Schedule Kotak Group Money Market Fund



ULGF-001-27/06/03-MNMKFND-107




Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 18,143 - 77,633 38,714 11,933 7,411 59,536 25,669

Dividend income - - - - - - - -

Profit on sale of investment 819 - 4,577 2,176 618 402 3,063 1,447

Profit on inter fund transfer / sale of investment

413 - 317 404 48 62 289 160

Loss on sale of investment (20) - (1,103) (17) (229) (7) (1,913) (2)

Loss on inter fund transfer / sale of investment

(31) - (215) (162) (46) (37) (115) (83)

Miscellaneous Income (0) - - - (0) - 0 -

Unrealised Gain/Loss - - - - - - - -

Total (A) 19,324 - 81,209 41,115 12,324 7,832 60,860 27,191

Fund administration expenses - - - - - - - -

Fund management expenses 1,701 - 6,047 2,973 933 575 3,982 1,074

Other charges : F-5 0 - 19,201 12,603 6,646 3,154 - -

Total (B) 1,701 - 25,248 15,576 7,579 3,729 3,982 1,074

Net Income for the year (A-B)

17,623 - 55,961 25,539 4,745 4,103 56,878 26,117

Add: Fund revenue account at the beginning of the year

559 559 30,212 4,673 6,255 2,152 27,872 1,755

Fund revenue account at the end of the year

18,182 559 86,173 30,212 11,000 6,255 84,750 27,872




ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 36,148 39,697 8,555 12,609 13,683 11,438 639,797 373,995


Profit on sale of investment 21,066 22,544 5,481 7,162 7,888 6,657 415,925 170,198


559 1,102 136 544 51 155 18,802 5,682

Loss on sale of investment (41,884) (3,877) (10,094) (1,518) (16,116) (1,124) (688,240) (54,976)


(567) (164) (842) (286) (3) (44) (10,483) (169)

Miscellaneous Income (0) - - - 0 - - -

Unrealised Gain/Loss (1,360) 426 (102) 759 (579) (37) (48,054) 15,715

Total (A) 13,962 59,728 3,134 19,270 4,924 17,045 327,747 510,445







ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Fund management expenses 4,870 5,400 1,158 1,714 1,475 1,247 101,354 57,238

Other charges : F-5 4,970 9,689 3,548 5,173 481 486 110,033 66,827

Total (B) 9,840 15,089 4,706 6,887 1,956 1,733 211,387 124,065


4,122 44,639 (1,572) 12,383 2,968 15,312 116,360 386,380


134,541 89,902 29,579 17,196 37,082 21,770 533,647 147,267


138,663 134,541 28,007 29,579 40,050 37,082 650,007 533,647

Particulars Schedule Kotak Pension Bond Fund

Kotak Group Bond Fund Kotak Group Secure Capital Fund



ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 96,334 73,817 365,916 277,029 6,352 4,900 25,770 23,605




3,356 1,738 12,292 8,109 343 246 251 340

Loss on sale of investment (106,995) (10,824) (402,836) (38,059) (6,723) (808) (1,533) (390)


(2,705) (595) (16,665) (869) (954) (32) (278) (86)

Miscellaneous Income 0 - 0 - (0) - (0) -

Unrealised Gain/Loss (6,749) 3,317 (25,058) 12,806 (318) 223 1,102 (477)

Total (A) 47,876 99,712 187,106 380,100 3,302 6,820 38,972 26,783


Fund management expenses 15,233 11,159 38,596 27,893 764 576 4,357 3,781

Other charges : F-5 23,488 35,174 14,138 11,004 309 682 3,963 2,660

Total (B) 38,721 46,333 52,734 38,897 1,073 1,258 8,320 6,441


9,155 53,379 134,372 341,203 2,229 5,562 30,652 20,342


122,131 68,752 791,446 450,243 7,955 2,393 74,903 54,561


131,286 122,131 925,818 791,446 10,184 7,955 105,555 74,903





Particulars Schedule Kotak Pension Floating Rate Fund





ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 4,260 5,035 11,033 9,142 5,047 7,745 - 557


Profit on sale of investment 2,431 853 4,179 1,496 (1,344) 26 - 22


83 193 30 500 - - - -

Loss on sale of investment (285) (83) (339) (122) - - - -


(116) (23) (46) (65) - - - -

Miscellaneous Income 0 - 0 - (0) - - -

Unrealised Gain/Loss 135 (288) 1,272 (412) 371 (613) - 27

Total (A) 6,508 5,687 16,129 10,539 4,074 7,158 - 606


Fund management expenses 719 803 1,218 978 323 496 - 43

Other charges : F-5 738 2,750 283 1,191 (0) - - -

Total (B) 1,457 3,553 1,501 2,169 323 496 - 43


5,051 2,134 14,628 8,370 3,751 6,662 - 563


11,819 9,685 39,010 30,640 31,298 24,636 2,416 1,853


16,870 11,819 53,638 39,010 35,049 31,298 2,416 2,416





ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 1,840 2,741 21,748 20,615 7,023 7,916 74,333 76,870

Dividend income - - - - 1,750 1,950 6,061 8,037

Profit on sale of investment (623) 35 0 184 18,210 23,927 106,455 108,129


- - - 114 2,975 314 1,451 968

Loss on sale of investment - - - - (13,912) (8,415) (104,976) (38,490)


(440) - - - (189) (236) (938) (1,677)

Miscellaneous Income - - (0) - 0 - (0) -

Unrealised Gain/Loss 818 (35) (1,287) 1,590 9,354 (4,041) 16,448 (10,278)








ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Total (A) 1,595 2,741 20,461 22,503 25,211 21,415 98,834 143,559


Fund management expenses 105 158 1,058 1,071 2,864 3,094 17,691 20,065

Other charges : F-5 (0) - - - 2,767 3,970 25,990 44,036

Total (B) 105 158 1,058 1,071 5,631 7,064 43,681 64,101


1,490 2,583 19,403 21,432 19,580 14,351 55,153 79,458


10,212 7,629 34,162 12,730 167,024 152,673 473,587 394,129


11,702 10,212 53,565 34,162 186,604 167,024 528,740 473,587

Particulars Schedule Kotak Pension Balanced Fund




ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 159,938 217,777 69,984 59,758 4,920 2,960 1,847 1,893

Dividend income 13,505 24,182 16,626 14,218 1,149 686 488 441



5,077 8,046 297 1,706 186 34 55 75



(2,905) (6,926) (2,227) (1,220) (147) (33) (93) (16)

Miscellaneous Income 0 - (0) - (0) - (0) -

Unrealised Gain/Loss 22,229 (66,427) 154,426 (3,231) 12,960 1,237 3,549 289

Total (A) 214,726 426,595 248,520 156,314 18,418 7,374 7,025 4,992


Fund management expenses 38,120 57,118 21,457 17,913 2,073 1,235 810 795

Other charges : F-5 38,456 115,638 (1,971) 1,269 5,196 3,714 2,508 1,456

Total (B) 76,576 172,756 19,486 19,182 7,269 4,949 3,318 2,251


138,150 253,839 229,034 137,132 11,149 2,425 3,707 2,741


599,941 346,102 449,350 312,218 1,721 (704) 1,211 (1,530)


738,091 599,941 678,384 449,350 12,870 1,721 4,918 1,211





Particulars Schedule Kotak Dynamic Growth Fund








Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 11,931 12,330 707,998 781,073 12,340 16,406 6,600 3,200

Dividend income 6,667 7,969 89,721 126,149 1,613 2,721 37,875 45,444

Profit on sale of investment 51,957 91,086 1,310,970 1,642,237 23,725 36,536 274,811 526,355


360 3,804 14,803 21,587 85 486 41 3,915

Loss on sale of investment (29,430) (30,369) (1,134,940) (563,737) (21,070) (13,093) (147,349) (176,272)


(107) (1,096) (17,923) (15,685) (66) (624) (376) (312)

Miscellaneous Income (0) - 0 - 0 - 0 -

Unrealised Gain/Loss 47,467 (21,656) 308,624 (263,656) 6,647 (4,983) 295,844 (143,250)

Total (A) 88,845 62,068 1,279,253 1,727,968 23,274 37,449 467,446 259,080



Other charges : F-5 8,101 13,172 198,228 450,465 7,954 15,990 48,848 96,052

Total (B) 17,650 24,015 424,456 731,005 12,004 21,932 93,982 148,230


71,195 38,053 854,797 996,963 11,270 15,517 373,464 110,850


308,495 270,442 2,234,511 1,237,548 47,756 32,239 583,329 472,479


379,690 308,495 3,089,308 2,234,511 59,026 47,756 956,793 583,329


Kotak Opportunities Fund Kotak Pension Opportunities Fund



ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 5,814 2,031 833 345 18,442 9,489 487 260

Dividend income 19,794 17,003 3,697 3,284 106,275 112,872 2,336 3,364

Profit on sale of investment 103,735 116,900 24,127 24,978 801,174 1,026,733 17,843 31,699


50 1,199 14 6 298 3,993 333 3,389



(181) (172) (88) (6) (1,528) (262) (70) (162)

Miscellaneous Income (0) - 0 - (0) - 0 -

Unrealised Gain/Loss 207,843 19,448 31,939 4,685 779,982 (39,180) 17,645 (2,612)

Total (A) 262,968 93,989 45,881 21,037 1,210,462 740,737 27,353 25,276





Kotak Opportunities Fund Kotak Pension Opportunities Fund



ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year



Other charges : F-5 34,176 28,472 17,103 9,863 221,104 174,751 6,543 7,167

Total (B) 54,955 45,810 20,820 13,372 380,512 342,746 10,079 12,055


208,013 48,179 25,061 7,665 829,950 397,991 17,274 13,221


25,252 (22,927) (6,593) (14,258) 735,640 337,649 12,264 (957)


233,265 25,252 18,468 (6,593) 1,565,590 735,640 29,538 12,264

Particulars Schedule Classic Opportunities Fund







Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 30,765 14,461 4,160 2,300 615,336 492,132 3,054 3,663

Dividend income 118,112 100,006 23,242 19,216 60,123 74,828 324 550

Profit on sale of investment 795,988 663,104 182,040 136,083 1,001,477 656,440 5,471 5,211


361 2,197 22 380 13,510 11,785 27 144

Loss on sale of investment (530,473) (309,286) (108,055) (61,552) (1,213,006) (300,600) (6,144) (2,721)


(805) (259) (574) (12) (3,015) (8,765) (636) (49)

Miscellaneous Income 0 - 0 - 0 - (0) -

Unrealised Gain/Loss 972,500 161,849 156,763 32,933 147,527 115,259 414 937

Total (A) 1,386,448 632,072 257,598 129,348 621,952 1,041,079 2,510 7,735


Fund management expenses 122,293 104,895 23,176 21,109 202,949 214,903 737 1,061

Other charges : F-5 251,017 189,389 110,150 52,909 343,548 369,291 3,464 436

Total (B) 373,310 294,284 133,326 74,018 546,497 584,194 4,201 1,497


1,013,138 337,788 124,272 55,330 75,455 456,885 (1,691) 6,238


175,680 (162,108) (25,132) (80,462) 423,451 (33,434) 17,279 11,041


1,188,818 175,680 99,140 (25,132) 498,906 423,451 15,588 17,279





Particulars Schedule Kotak Pension Floor Fund Dynamic Floor Fund II Pension Floor Fund II Guarantee Fund


ULIF-035-17/12/09-DYFLRFND2-107


ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 45,590 50,627 396,458 293,070 81,724 67,660 28,236 20,999

Dividend income 4,517 8,092 39,620 43,889 8,355 10,042 2,847 3,094



1,642 1,945 13,924 4,250 3,383 731 594 416



(321) (665) (2,113) (2,860) (333) (1,089) (1) (99)

Miscellaneous Income - - 0 - - - (0) -

Unrealised Gain/Loss 8,355 8,665 127,288 55,423 21,315 13,722 9,020 4,017

Total (A) 42,765 123,310 403,775 664,047 81,686 156,969 28,971 47,646



Other charges : F-5 42,704 77,739 263,594 181,677 98,042 65,624 28,156 22,258

Total (B) 57,574 99,397 364,425 278,909 118,874 88,189 35,378 29,268


(14,809) 23,913 39,350 385,138 (37,188) 68,780 (6,407) 18,378


12,911 (11,002) 297,245 (87,893) 35,765 (33,015) 11,545 (6,833)


(1,898) 12,911 336,595 297,245 (1,423) 35,765 5,138 11,545




ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 86,081 69,479 20,160 19,108 1,516 3,039 15 110

Dividend income 8,747 10,486 1,995 2,757 - 35 - -

Profit on sale of investment 133,390 110,215 33,603 27,007 37 619 6 23


2,936 937 583 669 31 95 11 -

Loss on sale of investment (167,379) (40,527) (39,300) (10,661) (70) (393) - (1)


(999) (717) (66) (65) (29) (61) (0) -

Miscellaneous Income 0 - (0) - (0) - (0) -

Unrealised Gain/Loss 23,272 13,448 3,991 4,254 (322) 455 2 (5)

Total (A) 86,048 163,321 20,966 43,069 1,163 3,789 34 127







ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Fund management expenses 21,893 23,366 6,610 7,970 607 1,253 7 49

Other charges : F-5 108,992 80,716 10,301 8,826 432 75 211 (4)

Total (B) 130,885 104,082 16,911 16,796 1,039 1,328 218 45


(44,837) 59,239 4,055 26,273 124 2,461 (184) 82


43,312 (15,927) 23,509 (2,764) 16,664 14,203 182,668 182,586


(1,525) 43,312 27,564 23,509 16,788 16,664 182,484 182,668

Particulars Schedule Kotak Advantage Multiplier Fund II

Kotak Advantage Plus Fund II

Total



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Interest income 1,452 1,589 326 596 3,801,092 3,165,860

Dividend income - 16 - - 575,440 641,331

Profit on sale of investment 18 276 73 47 6,914,729 6,794,195

Profit on inter fund transfer / sale of investment 9 2 - 69 100,025 92,489

Loss on sale of investment (78) (236) - (1) (6,823,885) (2,570,498)

Loss on inter fund transfer / sale of investment - (3) - (140) (69,239) (45,824)

Miscellaneous Income (0) - (0) - 0 -

Unrealised Gain/Loss (134) 350 (58) 167 3,305,082 (89,184)

Total (A) 1,267 1,994 341 738 7,803,244 7,988,369

Fund administration expenses - - - - - -

Fund management expenses 601 674 149 258 1,262,086 1,284,631

Other charges : F-5 230 62 231 20 2,063,873 2,166,428

Total (B) 831 736 380 278 3,325,959 3,451,059

Net Income for the year (A-B) 436 1,258 (39) 460 4,477,285 4,537,310

Add: Fund revenue account at the beginning of the year 11,362 10,104 132,387 131,927 8,917,234 4,379,924

Fund revenue account at the end of the year 11,798 11,362 132,348 132,387 13,394,519 8,917,234





25D Unit Linked Disclosures - Schedules to Fund Revenue & Fund Balance Sheet

Schedules to Fund Balance Sheet

FundBalanceSheetfortheYearEnded31stMarch2014

Schedule: F-1

POLICYHOLDERS’ CONTRIBUTION

Particulars Kotak Group Money Market Fund



ULGF-001-27/06/03-MNMKFND-107




Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance (559) (559) 508,995 424,529 88,344 62,986 432,081 148,292

Add: Additions during the year*

357,638 - 1,687,675 319,441 154,050 42,556 743,383 421,434

Less: Deductions during the year*

0 - 538,806 234,975 68,538 17,198 221,005 137,645

Closing balance 357,079 (559) 1,657,864 508,995 173,856 88,344 954,459 432,081

Particulars Kotak Dynamic Gilt Fund

Kotak Pension Gilt Fund

Kotak Group Gilt Fund Kotak Dynamic Bond Fund



ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 346,359 400,035 90,281 173,405 133,620 110,964 6,133,906 3,064,085


136,649 103,957 8,126 24,732 18,980 41,469 3,888,901 4,258,492


232,475 157,633 38,865 107,856 26,013 18,813 2,730,694 1,188,671

Closing balance 250,533 346,359 59,542 90,281 126,587 133,620 7,292,113 6,133,906

Particulars Kotak Pension Bond Fund

Kotak Group Bond Fund

Kotak Group Secure Capital Fund



ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 935,716 598,052 3,440,568 2,130,338 83,271 32,431 196,356 238,607


462,610 718,407 981,424 1,688,260 19,114 59,097 230,265 15,063


429,762 380,743 988,520 378,030 43,383 8,257 113,666 57,314

Closing balance 968,564 935,716 3,433,472 3,440,568 59,002 83,271 312,955 196,356

* Additions represents units creation and deductions represents units cancellation




Particulars Kotak Pension Floating Rate Fund





ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 38,710 66,788 18,269 115,862 39,759 48,159 (2,416) 4,892


11,641 5,978 286,062 75,554 0 - - -


10,823 34,056 22,188 173,147 74,808 8,400 - 7,308

Closing balance 39,528 38,710 282,143 18,269 (35,049) 39,759 (2,416) (2,416)

Particulars Kotak Group 59M FMP 08/12/2013




ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 16,864 20,114 198,641 207,408 37,007 62,766 808,384 1,048,960


0 - 160 - 17,763 16,879 119,705 142,162


28,566 3,250 7,810 8,767 68,945 42,638 311,433 382,739

Closing balance (11,702) 16,864 190,991 198,641 (14,175) 37,007 616,656 808,383

Particulars Kotak Pension Balanced Fund




ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 2,398,130 4,297,053 1,382,651 1,207,264 119,279 65,033 58,254 42,388


244,540 471,918 223,929 365,800 103,167 68,113 18,474 29,436


1,048,968 2,370,841 170,600 190,413 41,538 13,867 33,445 13,570

Closing balance 1,593,702 2,398,130 1,435,980 1,382,651 180,908 119,279 43,283 58,254






Particulars Kotak Dynamic Growth Fund








Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 281,719 421,122 12,462,985 16,939,818 224,790 363,787 2,016,483 2,621,453


31,542 54,792 788,345 1,272,228 29,439 63,665 189,558 302,692


128,455 194,195 4,177,109 5,749,060 96,665 202,662 654,187 907,662

Closing balance 184,806 281,719 9,074,221 12,462,986 157,564 224,790 1,551,854 2,016,483

Particulars Frontline Equity Fund Pension Frontline Equity Fund





ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 1,288,171 1,059,863 261,203 201,972 6,522,783 7,026,936 158,137 220,072


719,011 483,509 87,266 89,687 1,173,468 1,527,785 46,164 67,357


485,059 255,201 107,827 30,456 1,838,475 2,031,938 70,415 129,292

Closing balance 1,522,123 1,288,171 240,642 261,203 5,857,776 6,522,783 133,886 158,137

Particulars Classic Opportunities Fund







Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 7,824,377 6,180,474 1,615,198 1,164,673 10,314,134 10,535,067 40,344 82,681


2,233,894 2,625,721 296,928 621,125 1,706,686 2,650,416 3,281 8,029


2,074,486 981,818 504,875 170,599 2,266,781 2,871,350 20,977 50,366

Closing balance 7,983,785 7,824,377 1,407,251 1,615,199 9,754,039 10,314,133 22,648 40,344





Particulars Kotak Pension Floor Fund

Dynamic Floor Fund II Pension Floor Fund II Guarantee Fund


ULIF-035-17/12/09-DYFLRFND2-107


ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 844,771 1,164,725 6,732,451 5,581,742 1,545,430 1,286,294 496,752 406,096


90,351 261,353 1,293,993 2,045,385 226,507 534,351 87,427 139,609


265,472 581,308 1,718,523 894,676 476,276 275,215 115,756 48,953

Closing balance 669,650 844,770 6,307,921 6,732,451 1,295,661 1,545,430 468,423 496,752

Particulars Pension Guarantee Fund Peak Guarantee Fund I Kotak Advantage Multiplier Fund



ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 1,582,851 1,301,331 389,554 349,055 5,368 32,560 (181,189) (181,185)


204,983 403,301 10,413 80,130 0 6 - 0


413,233 121,781 130,959 39,631 5,220 27,198 1,295 4

Closing balance 1,374,601 1,582,851 269,008 389,554 148 5,368 (182,484) (181,189)

Particulars Kotak Advantage Multiplier Fund II


Total



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Opening balance 8,469 11,898 (127,939) (114,007) 71,809,313 71,226,277

Add: Additions during the year* 257 0 - 16,486 18,933,769 22,116,381

Less: Deductions during the year* 5,537 3,429 (29) 30,418 22,808,404 21,533,345

Closing balance 3,189 8,469 (127,910) (127,939) 67,934,678 71,809,313






Schedules to Fund Revenue Account

Schedule: F-2

INVESTMENTS




ULGF-001-27/06/03-MNMKFND-107




Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Approved Investments

Government Bonds - - - - - - - -

Corporate Bonds - - - - - - - -

Infrastructure Bonds - - - - - - - -

Equity - - - - - - - -

Money Market 375,018 - 1,586,368 473,084 187,428 93,653 1,045,080 455,329

Mutual Funds - - - - - - - -

Total 375,018 - 1,586,368 473,084 187,428 93,653 1,045,080 455,329

Other Investments



Equity - - - - - - - -

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total - - - - - - - -

GRAND TOTAL 375,018 - 1,586,368 473,084 187,428 93,653 1,045,080 455,329

% of Approved Investments to Total

100.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

% of Other Investments to Total

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%






ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 340,916 438,319 76,366 117,331 135,113 160,522 4,990,066 2,139,392

Corporate Bonds - - - - - - 1,218,560 1,183,886

Infrastructure Bonds - - - - - - 966,959 1,496,982

Equity - - - - - - - -

Money Market 45,347 20,266 8,232 2,077 26,356 7,344 307,130 1,064,903

Mutual Funds - - - - - - - -

Total 386,263 458,585 84,598 119,408 161,469 167,866 7,482,715 5,885,163

Other Investments









ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year



Equity - - - - - - - -

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total - - - - - - - -

GRAND TOTAL 386,263 458,585 84,598 119,408 161,469 167,866 7,482,715 5,885,163


100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%


0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%






ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 692,906 368,220 2,651,230 1,259,555 43,645 31,564 84,733 138,065

Corporate Bonds 179,895 194,169 684,428 727,448 10,904 16,548 150,923 24,119

Infrastructure Bonds 122,838 225,973 491,418 827,097 8,351 21,374 51,097 27,754

Equity - - - - - - - -

Money Market 66,913 188,868 299,044 885,602 4,253 14,699 117,945 99,619

Mutual Funds - - - - - - - -

Total 1,062,552 977,230 4,126,120 3,699,702 67,153 84,185 404,698 289,557

Other Investments



Equity - - - - - - - -

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total - - - - - - - -

GRAND TOTAL 1,062,552 977,230 4,126,120 3,699,702 67,153 84,185 404,698 289,557


100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%


0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%










ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 10,558 25,910 65,147 28,417 - - - -

Corporate Bonds 21,201 4,020 116,090 5,025 - 16,235 - -

Infrastructure Bonds 7,014 4,974 40,081 5,947 - 50,739 - -

Equity - - - - - - - -

Money Market 16,096 17,394 108,260 19,334 - 1,626 - -

Mutual Funds - - - - - - - -

Total 54,869 52,298 329,578 58,723 - 68,600 - -

Other Investments



Equity - - - - - - - -

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total - - - - - - - -

GRAND TOTAL 54,869 52,298 329,578 58,723 - 68,600 - -


100.00% 100.00% 100.00% 100.00% 0.00% 100.00% 0.00% 0.00%


0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%





ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds - - - - 44,976 32,352 477,984 296,550

Corporate Bonds - 10,147 19,878 20,122 9,349 10,002 104,705 102,516

Infrastructure Bonds - 16,104 65,304 66,346 9,516 25,564 102,515 222,021

Equity - - - - 90,741 104,070 301,923 429,007

Money Market - - 120,528 120,529 10,409 17,813 115,448 148,596

Mutual Funds - - - - - - - -

Total - 26,251 205,710 206,997 164,991 189,801 1,102,575 1,198,690

Other Investments










ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Equity - - - - 3,939 8,250 13,860 35,177

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total - - - - 3,939 8,250 13,860 35,177

GRAND TOTAL - 26,251 205,710 206,997 168,930 198,051 1,116,435 1,233,867


0.00% 100.00% 100.00% 100.00% 97.67% 95.83% 98.76% 97.15%


0.00% 0.00% 0.00% 0.00% 2.33% 4.17% 1.24% 2.85%





ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 980,922 676,235 498,400 306,999 42,769 16,924 12,555 9,668

Corporate Bonds 215,111 226,122 110,397 80,714 7,206 4,926 1,108 2,999

Infrastructure Bonds 189,889 464,625 110,344 181,881 11,567 19,025 2,452 9,268

Equity 617,403 1,010,022 1,093,014 930,853 91,745 56,573 26,208 31,122

Money Market 230,500 411,356 122,607 291,518 19,296 7,096 3,346 3,462

Mutual Funds - - - - - - - -

Total 2,233,825 2,788,360 1,934,762 1,791,965 172,583 104,544 45,669 56,519

Other Investments



Equity 28,480 87,181 48,048 71,009 3,945 4,262 1,163 2,454

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total 28,480 87,181 48,048 71,009 3,945 4,262 1,163 2,454

GRAND TOTAL 2,262,305 2,875,541 1,982,810 1,862,974 176,528 108,806 46,832 58,973


98.74% 96.97% 97.58% 96.19% 97.77% 96.08% 97.52% 95.84%


1.26% 3.03% 2.42% 3.81% 2.23% 3.92% 2.48% 4.16%













Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 62,164 65,755 4,386,918 2,862,794 75,307 51,901 - -

Corporate Bonds 11,112 28,256 1,000,795 909,886 16,619 21,182 - -

Infrastructure Bonds 43,514 52,800 1,174,333 2,214,355 12,608 32,763 - -

Equity 402,972 413,233 4,432,702 6,252,749 78,658 115,287 2,311,501 2,296,724

Money Market 19,055 6,370 655,807 1,444,099 25,296 24,499 61,521 109,845

Mutual Funds - - - - - - - -

Total 538,817 566,414 11,650,555 13,683,883 208,488 245,632 2,373,022 2,406,569

Other Investments



Equity 17,886 32,592 203,809 521,790 3,453 10,010 102,728 188,220

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total 17,886 32,592 203,809 521,790 3,453 10,010 102,728 188,220

GRAND TOTAL 556,703 599,006 11,854,364 14,205,673 211,941 255,642 2,475,750 2,594,789


96.79% 94.56% 98.28% 96.33% 98.37% 96.08% 95.85% 92.75%


3.21% 5.44% 1.72% 3.67% 1.63% 3.92% 4.15% 7.25%






ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds - - - - - - - -



Equity 1,511,238 1,096,417 231,315 221,363 6,653,993 6,156,577 148,152 139,932

Money Market 164,067 83,881 18,795 16,337 185,396 221,902 4,687 11,286

Mutual Funds - - - - - - - -

Total 1,675,305 1,180,298 250,110 237,700 6,839,389 6,378,479 152,839 151,218

Other Investments



Equity 62,234 85,349 10,000 17,571 559,601 825,291 12,208 19,994









ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total 62,234 85,349 10,000 17,571 559,601 825,291 12,208 19,994

GRAND TOTAL 1,737,539 1,265,647 260,110 255,271 7,398,990 7,203,770 165,047 171,212


96.42% 93.26% 96.16% 93.12% 92.44% 88.54% 92.60% 88.32%


3.58% 6.74% 3.84% 6.88% 7.56% 11.46% 7.40% 11.68%








Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds - - - - 3,754,120 1,876,363 13,966 12,864

Corporate Bonds - - - - 1,136,415 635,599 2,258 4,028

Infrastructure Bonds - - - - 1,057,494 1,382,684 4,142 12,154

Equity 8,001,901 6,535,428 1,353,168 1,342,355 4,014,709 5,107,018 16,186 22,926

Money Market 450,070 403,830 41,912 59,876 244,549 1,161,527 1,345 7,475

Mutual Funds - - - - - - - -

Total 8,451,971 6,939,258 1,395,080 1,402,231 10,207,287 10,163,191 37,897 59,447

Other Investments



Equity 648,523 854,357 114,519 178,428 110,419 149,016 445 668

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total 648,523 854,357 114,519 178,428 110,419 149,016 445 668

GRAND TOTAL 9,100,494 7,793,615 1,509,599 1,580,659 10,317,706 10,312,207 38,342 60,115


92.87% 89.04% 92.41% 88.71% 98.93% 98.55% 98.84% 98.89%


7.13% 10.96% 7.59% 11.29% 1.07% 1.45% 1.16% 1.11%








ULIF-035-17/12/09-DYFLRFND2-107


ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 249,485 191,602 2,431,112 1,568,383 473,983 345,967 174,526 110,300

Corporate Bonds 77,430 67,033 694,972 578,362 136,413 131,370 50,469 47,122

Infrastructure Bonds 63,949 136,797 608,799 1,214,037 120,832 286,913 37,611 89,787

Equity 260,143 305,669 2,752,163 2,485,447 528,258 563,653 195,192 178,990

Money Market 14,283 122,184 111,955 749,938 22,784 169,167 10,725 52,252

Mutual Funds - - - - - - - -

Total 665,290 823,285 6,599,001 6,596,167 1,282,270 1,497,070 468,523 478,451

Other Investments



Equity 7,165 9,008 75,652 72,882 14,518 16,488 5,364 5,227

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total 7,165 9,008 75,652 72,882 14,518 16,488 5,364 5,227

GRAND TOTAL 672,455 832,293 6,674,653 6,669,049 1,296,788 1,513,558 473,887 483,678


98.93% 98.92% 98.87% 98.91% 98.88% 98.91% 98.87% 98.92%


1.07% 1.08% 1.13% 1.09% 1.12% 1.09% 1.13% 1.08%

Particulars Pension Guarantee Fund

Peak Guarantee Fund I Kotak Advantage Multiplier Fund



ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 511,246 360,234 114,486 94,451 8,610 8,817 - 1,165

Corporate Bonds 148,824 147,268 29,142 40,184 998 4,076 - -

Infrastructure Bonds 123,039 296,539 23,215 76,616 3,253 5,290 - -

Equity 564,656 582,595 118,769 151,774 - - - -

Money Market 24,078 161,037 13,446 42,778 3,499 2,857 - 287

Mutual Funds - - - - - - - -

Total 1,371,843 1,547,673 299,058 405,803 16,360 21,040 - 1,452

Other Investments



Equity 15,518 16,960 3,274 4,441 - - - -








ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Money Market - - - - - - - -

Mutual Funds - - - - - - - -

Total 15,518 16,960 3,274 4,441 - - - -

GRAND TOTAL 1,387,361 1,564,633 302,332 410,244 16,360 21,040 - 1,452


98.88% 98.92% 98.92% 98.92% 100.00% 100.00% 0.00% 100.00%


1.12% 1.08% 1.08% 1.08% 0.00% 0.00% 0.00% 0.00%



Total



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Government Bonds 8,681 8,043 3,308 4,339 23,416,201 13,609,004

Corporate Bonds 2,003 3,042 - - 6,157,207 5,246,406

Infrastructure Bonds 3,244 5,294 - - 5,455,378 9,471,702

Equity - - - - 35,796,709 36,529,783

Money Market 500 2,883 1,000 - 6,890,366 9,198,479

Mutual Funds - - - - - -

Total 14,428 19,262 4,307 4,339 77,715,861 74,055,374

Other Investments

Corporate Bonds - - - - - -

Infrastructure Bonds - - - - - -

Equity - - - - 2,066,750 3,216,624

Money Market - - - - - -

Mutual Funds - - - - - -

Total - - - - 2,066,750 3,216,624

GRAND TOTAL 14,428 19,262 4,307 4,339 79,782,611 77,271,998

% of Approved Investments to Total 100.00% 100.00% 100.00% 100.00% 97.41% 95.84%

% of Other Investments to Total 0.00% 0.00% 0.00% 0.00% 2.59% 4.16%






Schedule: F - 3

CURRENT ASSETS




ULGF-001-27/06/03-MNMKFND-107




Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest - - - - - - - -

Cash & Bank Balance 156 - 287 59 71 228 11 224

Dividend Receivable - - - - - - - -

Receivable for Sale of Investments

- - - - - - - -

Unit Collection A/c# - - - - - - - -

Other Current Assets (for Investments)

124 - 157,500 66,099 - 725 - 8,357

Total 280 - 157,787 66,158 71 953 11 8,581






ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 6,215 8,866 1,378 2,358 2,425 3,225 233,038 177,203

Cash & Bank Balance 116 178 412 157 442 117 3,246 296



12,900 1 2,709 0 5,167 0 288,807 176,712



7,020 13,328 33 - 54 - 205,871 438,333

Total 26,251 22,373 4,532 2,515 8,088 3,342 730,962 792,544

# Represents inter fund receivables or payables, if any






ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Cash & Bank Balance 815 105 2,242 498 233 316 227 126









ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year



40,270 32,640 152,960 88,093 2,496 2,728 505 97,112



795 15,414 116,813 329,866 3 1,687 5,760 -

Total 75,978 81,810 401,122 539,853 4,741 7,176 14,289 103,212






ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 1,061 1,057 5,762 1,243 - 2,596 - -

Cash & Bank Balance 171 40 232 369 - 19 - -



192 18,435 - 20,385 - - - -



114 298 246 20 - - - -

Total 1,538 19,830 6,240 22,017 - 2,615 - -





ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest - 863 39,475 26,091 1,752 2,878 23,546 24,737

Cash & Bank Balance - 5 4 434 295 139 621 30

Dividend Receivable - - - - 49 91 151 379


- - - - 3,772 2,798 21,094 25,148



- - 124 - 585 183 4,442 1,800

Total - 868 39,603 26,525 6,453 6,089 49,854 52,094










ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 51,227 61,730 21,893 20,494 1,850 1,159 455 637

Cash & Bank Balance 239 75 273 59 9 62 425 345

Dividend Receivable 306 890 536 737 46 47 13 27


44,418 59,802 44,632 14,738 3,404 1,322 1,057 782



4,893 7,540 96,266 28,099 17,268 10,654 223 -

Total 101,083 130,037 163,600 64,127 22,577 13,244 2,173 1,791









Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 3,829 4,546 229,749 247,995 2,908 4,476 633 702

Cash & Bank Balance 50 164 483 8,137 491 47 496 315

Dividend Receivable 198 351 2,218 5,566 39 111 1,122 2,023


11,566 - 273,561 232,888 4,303 14,796 67,130 -



184 1,068 29,794 14,117 26 - 4,200 4,243

Total 15,827 6,129 535,805 508,703 7,767 19,430 73,581 7,283






ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 34 38 6 6 763 846 8 9

Cash & Bank Balance 283 441 4 168 347 94 175 237

Dividend Receivable 730 943 112 193 4,105 6,122 92 148


37,385 - 6,138 - 230,697 20,244 5,037 443



59,344 47,168 758 - 33,983 39,721 276 -

Total 97,776 48,590 7,018 367 269,895 67,027 5,588 837












Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 196 218 25 28 200,770 134,729 480 860

Cash & Bank Balance 500 174 50 71 1,535 14,696 180 45

Dividend Receivable 4,885 6,324 834 1,321 2,718 3,568 11 16


246,140 26,100 47,497 4,318 119,248 246,245 457 1,430



164,221 206,539 2,681 7,411 35,080 36,656 380 -

Total 415,942 239,355 51,087 13,149 359,351 435,894 1,508 2,351




ULIF-035-17/12/09-DYFLRFND2-107


ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Cash & Bank Balance 245 1,576 1,227 6,655 464 5,225 171 459

Dividend Receivable 177 216 1,866 1,720 359 390 132 124


7,985 22,547 78,040 166,570 15,145 37,910 5,488 12,471



579 - 52,056 88,708 13,369 18,403 5,900 5,216

Total 21,710 37,583 255,145 367,975 52,971 85,103 20,071 25,688





ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 25,347 23,794 5,154 6,274 410 693 - 23

Cash & Bank Balance 124 209 138 204 172 313 - 5

Dividend Receivable 382 405 81 106 - - - -


16,063 39,257 3,572 11,479 - - - -



3,629 - 214 - - - - 0

Total 45,545 63,665 9,159 18,063 582 1,006 - 28








Total



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Accrued Interest 366 457 69 79 1,200,530 1,072,534

Cash & Bank Balance 202 123 64 32 17,930 43,268

Dividend Receivable - - - - 21,161 31,823

Receivable for Sale of Investments - - - - 1,799,836 1,377,395

Unit Collection A/c# - - - - - -

Other Current Assets (for Investments) - - - - 1,024,810 1,391,650

Total 568 580 133 111 4,064,267 3,916,670



Schedule: F - 4

CURRENT LIABILITIES




ULGF-001-27/06/03-MNMKFND-107




Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Payable for Purchase of Investments

- - - - - - - -

Other Current Liabilities 37 - 118 35 2,643 7 5,882 3,957

Unit Payable a/c - - - - - - - -

Total 37 - 118 35 2,643 7 5,882 3,957






ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


7,106 - 1,564 - 2,902 - 268,093 9,113

Other Current Liabilities 16,212 58 17 2,063 19 506 3,464 1,041


Total 23,318 58 1,581 2,063 2,920 506 271,557 10,154









ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


37,558 1,017 145,119 7,075 2,408 1 - 112,513

Other Current Liabilities 1,122 176 22,833 466 300 134 477 8,997


Total 38,680 1,193 167,952 7,541 2,708 135 477 121,510






ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


- 20,587 - 23,124 - - - -

Other Current Liabilities 9 1,012 37 337 - 158 - -


Total 9 21,599 37 23,461 - 158 - -





ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


- - - - 2,906 74 15,340 1,198

Other Current Liabilities - 43 757 719 48 35 5,553 2,793


Total - 43 757 719 2,954 109 20,893 3,991





ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


30,742 3,428 31,570 94,861 5,288 1,032 791 10

Other Current Liabilities 853 4,079 476 239 39 19 13 1,289


Total 31,595 7,507 32,046 95,100 5,327 1,051 804 1,299













Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


6,564 14,797 150,659 14,009 2,581 17 37,931 1,022

Other Current Liabilities 1,470 124 75,981 2,870 537 2,509 2,753 1,238


Total 8,034 14,921 226,640 16,879 3,118 2,526 40,684 2,260






ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


79,643 602 7,276 113 242,595 10,594 5,339 368

Other Current Liabilities 284 212 742 915 2,924 1,780 1,872 1,280


Total 79,927 814 8,018 1,028 245,519 12,374 7,211 1,648








Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


342,329 31,615 50,402 3,477 415,683 8,105 1,596 1

Other Current Liabilities 1,504 1,298 3,893 264 8,429 2,412 18 4,842


Total 343,833 32,913 54,295 3,741 424,112 10,517 1,614 4,843




ULIF-035-17/12/09-DYFLRFND2-107


ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


26,129 1,012 282,941 6,087 55,049 1,018 19,858 4

Other Current Liabilities 284 11,183 2,341 1,241 471 16,448 539 1,065


Total 26,413 12,195 285,282 7,328 55,520 17,466 20,397 1,069








ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


58,050 1,018 11,580 3 - - - -

Other Current Liabilities 1,780 1,117 3,339 15,241 6 14 - 1


Total 59,830 2,135 14,919 15,244 6 14 - 1



Total



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Payable for Purchase of Investments - - - - 2,347,591 367,896

Other Current Liabilities 9 11 2 2 170,089 94,225

Unit Payable a/c - - - - - -

Total 9 11 2 2 2,517,680 462,121

Break up of Other Expenses Under ULIP

Schedule: F- 5

OTHER EXPENSES*




ULGF-001-27/06/03-MNMKFND-107




Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge - - 8,819 6,244 1,824 1,511 - -

Surrender charge - - 1,491 514 3,687 1,249 - -

Switching charge - - 6 1 1 - - -

Mortality charge 0 - 6,424 5,652 - - - -

Rider Premium charge - - 161 80 - - - -

Partial withdrawal charge - - - - - - - -

Miscellaneous charge - - 162 112 402 394 - -

Service Tax^ - - 2,138 - 732 - - -

Total 0 - 19,201 12,603 6,646 3,154 - -

*Any expense which is 1% of the total expenses incurred should be disclosed as a separate line item.

^ For the current year, service tax on the charges deducted from the funds has been segregated and shown as a separate line item










ULGF-002-27/06/03-GLTFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 1,486 835 692 1,110 - - 45,510 25,084

Surrender charge 549 6,165 2,423 4,029 - - 8,001 7,825

Switching charge 2 - - - - - 55 24

Mortality charge 2,078 2,404 30 31 428 486 42,055 32,273

Rider Premium charge 198 217 - - - - 1,894 1,388


Miscellaneous charge 54 68 2 3 - - 222 233

Service Tax^ 603 - 401 - 53 - 12,296 -

Total 4,970 9,689 3,548 5,173 481 486 110,033 66,827






ULGF-004-15/04/04-BNDFND-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 15,485 10,494 - - - - 549 (1,256)

Surrender charge 5,202 24,615 1 0 - - 801 2,349

Switching charge 2 - - - - - 2 0

Mortality charge 58 62 12,570 11,128 229 543 2,101 1,492

Rider Premium charge - - - - - - 49 37


Miscellaneous charge 5 3 13 (124) 52 139 33 38

Service Tax^ 2,736 - 1,554 - 28 - 428 -

Total 23,488 35,174 14,138 11,004 309 682 3,963 2,660






ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 265 384 - - - - - -

Surrender charge 379 2,351 - - - - - -

Switching charge - - - - - - - -

Mortality charge 11 14 252 1,191 - - - -











ULGF-005-07/12/04-FLTRFND-107

ULGF-012-03/12/08-60FM271113-107

ULGF-013-12/01/09-50FM270213-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Rider Premium charge - - - - - - - -


Miscellaneous charge 1 1 - - (0) - - -

Service Tax^ 82 - 31 - - - - -

Total 738 2,750 283 1,191 (0) - - -





ULGF-014-22/01/09-59FM081213-107

ULGF-017-14/07/11-57FM070416-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge - - - - 200 268 5,228 545

Surrender charge - - - - 614 1,889 13,226 37,152

Switching charge - - - - - - - 2

Mortality charge - - - - 1,137 1,186 4,728 6,238

Rider Premium charge - - - - 267 322 - -


Miscellaneous charge (0) - - - 242 305 19 99

Service Tax^ - - - - 307 - 2,789 -

Total (0) - - - 2,767 3,970 25,990 44,036





ULGF-003-27/06/03-BALFND-107

ULIF-037-21/12/09-BALKFND-107

ULIF-046-24/01/10-PNBALFND2-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 23,903 39,594 - - 1,746 1,479 1,251 1,427

Surrender charge 8,125 74,658 - - 503 246 981 28

Switching charge 2 - - - 2 1 - -

Mortality charge 1,096 1,325 1,228 1,269 2,165 1,782 - -

Rider Premium charge - - - - 194 204 - -


Miscellaneous charge 47 61 2 - 10 2 - -

Service Tax^ 5,283 - (3,201) - 576 - 276 -

Total 38,456 115,638 (1,971) 1,269 5,196 3,714 2,508 1,455















Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 1,139 1,583 83,563 43,071 2,233 3,579 6,708 9,737

Surrender charge 714 5,185 39,352 329,435 4,715 12,411 7,223 49,569

Switching charge - - 9 1 - - 7 6

Mortality charge 3,783 4,328 52,302 77,393 - - 20,080 24,170

Rider Premium charge 1,129 1,503 - - - - 7,557 10,344


Miscellaneous charge 447 573 434 565 - - 1,847 2,226

Service Tax^ 889 - 22,568 - 1,006 - 5,426 -

Total 8,101 13,172 198,228 450,465 7,954 15,990 48,848 96,052






ULIF-029-02/10/08-OPPFND-107


Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Surrender charge 9,051 4,701 9,232 2,232 52,600 83,728 4,427 4,926

Switching charge 10 3 6 1 41 18 1 1

Mortality charge 8,743 10,833 2 1 67,225 81,164 - -

Rider Premium charge 1,205 1,319 - - 2,090 2,462 - -


Miscellaneous charge 22 18 - - (454) 33 - -

Service Tax^ 3,780 - 1,883 - 24,350 - 724 -

Total 34,176 28,472 17,103 9,863 221,104 174,751 6,543 7,167








Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 74,401 76,285 38,505 47,272 95,864 45,607 - -

Surrender charge 84,736 38,922 59,509 5,630 96,103 182,602 - 0

Switching charge 54 25 11 7 41 19 - -

Mortality charge 54,589 63,053 - - 103,925 128,316 84 436

Rider Premium charge 9,520 11,029 - - 9,489 12,418 - -


Miscellaneous charge 59 75 - - 200 329 - -

Service Tax^ 27,658 - 12,125 - 37,926 - 3,380 -

Total 251,017 189,389 110,150 52,909 343,548 369,291 3,464 436









ULIF-035-17/12/09-DYFLRFND2-107


ULIF-048-05/02/10-GRTFND-107

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year


Surrender charge 31,319 66,396 112,998 40,378 56,496 21,670 15,019 9,187

Switching charge 3 - 42 17 8 2 - -

Mortality charge - - 50,904 65,015 - - 2,162 3,035

Rider Premium charge - - 6,910 8,172 - - - -


Miscellaneous charge 1 - 50 43 2 - 3,207 3,429

Service Tax^ 4,868 - 28,888 - 10,820 - 3,115 -

Total 42,704 77,739 263,594 181,677 98,042 65,624 28,156 22,258





ULIF-049-14/02/10-PKGRTFND1-107



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge 16,036 27,943 247 3,969 - - - -

Surrender charge 73,540 43,328 7,409 3,106 332 - 188 -

Switching charge 2 - - 1 - - - -

Mortality charge - - 1,510 1,749 52 75 - (4)

Rider Premium charge - - - - - - - -


Miscellaneous charge 7,380 9,445 2 1 - - (0) -

Service Tax^ 12,034 - 1,133 - 48 - 23 -

Total 108,992 80,716 10,301 8,826 432 75 211 (4)



Total



Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Policy Administration charge - - - - 625,325 505,533

Surrender charge 168 - 205 - 711,320 1,066,478

Switching charge - - - - 308 122

Mortality charge 37 62 - 20 441,987 526,720

Rider Premium charge - - - - 40,662 49,495

Partial withdrawal charge - - - - - -

Miscellaneous charge - - - - 14,464 18,080

Service Tax^ 25 - 26 - 229,807 -

Total 230 62 231 20 2,063,873 2,166,428







25E Unit Linked Disclosures - Other Disclosures

Fund Performance of Unit Linked Funds as on 31.03.2014 (Absolute Growth % )

Sr No

Fund Names SFIN Year of Inception

*Returns

2014 2013 2012 2011 2010 2009 Inception

1 Kotak Group Money Market Fund

ULGF-001-27/06/03-MNMKFND-107

2003-04 NA NA NA 44.40% 8.81% 12.71% 6.19%

2 Money Market Fund ULIF-041-05/01/10-MNMKKFND-107

2009-10 8.69% 9.37% 8.55% 5.02% NA NA 36.43%

3 Pension Money Market Fund II


2009-10 8.58% 9.22% 8.43% 5.27% NA NA 36.63%

4 Kotak Dynamic Gilt Fund ULIF-006-27/06/03-DYGLTFND-107

2003-04 1.79% 11.96% 6.61% 6.79% 6.06% 12.16% 95.60%

5 Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107

2003-04 1.85% 11.93% 6.58% 6.66% 5.83% 12.42% 99.27%

6 Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107

2003-04 1.93% 12.15% 6.89% 7.01% 6.50% 12.94% 101.68%

7 Kotak Dynamic Bond Fund


2004-05 3.34% 11.72% 9.35% 6.90% 9.35% 14.68% 116.65%

8 Kotak Pension Bond Fund


2004-05 3.34% 11.61% 9.48% 6.85% 9.58% 15.12% 117.43%

9 Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107

2004-05 3.77% 12.21% 10.30% 8.37% 11.59% 14.52% 127.76%

10 Kotak Dynamic Floating Rate Fund


2004-05 11.59% 8.56% 7.65% 5.83% 4.82% 8.92% 94.61%

11 Kotak Pension Floating Rate Fund


2004-05 11.54% 8.56% 7.61% 5.91% 4.67% 9.07% 95.42%

12 Kotak Group Floating Rate Fund

ULGF-005-07/12/04-FLTRFND-107

2004-05 11.99% 9.08% 8.08% 6.28% 5.33% 9.39% 101.97%

13 Kotak Group 60M FMP 27/11/2013

ULGF-012-03/12/08-60FM271113-107

2008-09 NA 9.46% 8.13% 3.33% 10.61% NA NA


ULGF-013-12/01/09-50FM270213-107

2008-09 NA NA 8.40% 3.98% 9.61% NA NA


ULGF-014-22/01/09-59FM081213-107

2008-09 NA 9.60% 8.46% 4.06% 9.88% NA NA

16 Kotak Dynamic Balanced Fund


2003-04 12.20% 8.97% -1.44% 8.91% 36.85% -19.14% 283.23%

17 Kotak Guaranteed Balanced Fund


2003-04 6.90% 9.30% 3.13% 6.93% 23.11% -13.06% 243.61%

18 Kotak Pension Balanced Fund


2003-04 6.88% 9.34% 3.17% 6.84% 22.64% -12.57% 249.44%

19 Kotak Group Balanced Fund

ULGF-003-27/06/03-BALFND-107

2003-04 12.49% 9.11% -1.12% 9.41% 34.88% -18.75% 285.44%

20 Balanced Fund ULIF-037-21/12/09-BALKFND-107

2009-10 11.60% 8.91% -1.53% 8.48% NA NA 35.04%




Sr No


*Returns

2014 2013 2012 2011 2010 2009 Inception

21 Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107

2009-10 12.06% 8.52% -0.96% 8.08% NA NA 32.47%

22 Kotak Dynamic Growth Fund


2003-04 14.90% 8.11% -4.57% 10.26% 44.21% -27.25% 336.09%

23 Kotak Guaranteed Growth Fund


2003-04 8.22% 8.78% 1.54% 7.57% 26.22% -20.41% 292.35%

24 Kotak Pension Growth Fund


2008-09 8.17% 8.80% 1.52% 7.77% 26.48% NA 67.15%

25 Kotak Aggressive Growth Fund


2004-05 18.13% 6.87% -7.41% 10.97% 74.61% -33.89% 326.38%

26 Kotak Advantage Multiplier Fund


2005-06 3.57% 6.97% -0.36% 4.82% 19.10% -2.33% 49.87%

27 Kotak Advantage Plus Fund


2005-06 NA 5.56% 13.06% 5.94% 17.83% -0.69% NA

28 Kotak Advantage Multiplier Fund II


2006-07 4.10% 6.82% -0.76% 4.98% 19.07% -2.52% 49.99%

29 Kotak Advantage Plus Fund II


2006-07 4.42% 6.55% 2.27% 4.50% 17.37% -0.69% 53.98%

30 FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107

2009-10 17.73% 7.31% -6.80% 11.91% NA NA 33.17%

31 PensionFrontlineEquityFund


2009-10 18.11% 7.43% -6.96% 11.34% NA NA 41.14%

32 Kotak Opportunities Fund

ULIF-029-02/10/08-OPPFND-107

2008-09 15.58% 7.63% -5.25% 11.84% 92.99% NA 152.68%

33 Kotak Pension Opportunities Fund


2009-10 15.26% 7.52% -4.98% 11.51% NA NA 44.22%

34 Classic Opportunities Fund


2009-10 16.17% 8.43% -4.53% 12.32% NA NA 40.63%

35 Pension Classic Opportunities Fund


2009-10 16.68% 8.06% -4.42% 11.82% NA NA 43.91%

36 Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107

2006-07 4.11% 7.70% 0.23% 6.98% 22.34% 9.97% 92.86%

37 Kotak Group Dynamic Floor Fund


2009-10 4.72% 9.07% 0.67% 6.76% NA NA 22.79%

38 Kotak Pension Floor Fund


2009-10 3.96% 8.89% -1.54% 5.07% NA NA 23.70%

39 Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107

2009-10 4.60% 9.24% -0.12% 7.19% NA NA 24.01%

40 Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107

2009-10 4.52% 9.31% 0.16% 7.62% NA NA 23.30%

41 Guarantee Fund ULIF-048-05/02/10-GRTFND-107

2009-10 4.60% 9.29% 0.40% 7.62% NA NA 30.00%





Sr No


*Returns

2014 2013 2012 2011 2010 2009 Inception

42 Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107

2009-10 4.52% 9.36% 0.08% 7.57% NA NA 23.97%

43 Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107

2009-10 4.34% 8.77% 0.26% 6.34% NA NA 25.05%

44 Discontinued Policy Fund ULIF-050-23/03/11-DISPOLFND-107

2010-11 8.35% 9.73% 8.09% NA NA NA 28.52%

45 Kotak Group Secure Capital Fund


2011-12 3.71% 12.16% NA NA NA NA 27.01%


ULGF-017-14/07/11-57FM070416-107

2011-12 8.56% 10.07% NA NA NA NA 26.82%

Note:Annual Absolute returns are calculated in those funds for which units existed in the fund for the full financial year. Inother cases , it has been mentioned as NA.

1 - Unit Created on 12/08/2013

13 - Last unit redeemed on 27/11/2013





Statement Showing Receipts and Payments made to Related Parties

Sr No

Related Parties SFIN Kotak Securities Ltd - Brokerage

Paid

Kotak Mahindra Prime Ltd -

Interest Income on Debenture’s

Kotak Mahindra Bank Ltd - FD

Interest Income earned

1 Kotak Group Money Market Fund

ULGF-001-27/06/03-MNMKFND-107 - - -

2 Money Market Fund ULIF-041-05/01/10-MNMKKFND-107 - - -

3 Pension Money Market Fund II

ULIF-039-28/12/09-PNMNMKFND-107 - - -

4 Discontinued Policy Fund ULIF-050-23/03/11-DISPOLFND-107 - - -

5 Kotak Dynamic Gilt Fund ULIF-006-27/06/03-DYGLTFND-107 - - -

6 Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107 - - -

7 Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107 - - -

8 Kotak Dynamic Bond Fund ULIF-015-15/04/04-DYBNDFND-107 - 2,629 -

9 Kotak Pension Bond Fund ULIF-017-15/04/04-PNBNDFND-107 - 447 -

10 Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107 - 1,638 -

11 Kotak Group Secure Capital Fund

ULGF-016-12/04/11-SECCAPFND-107 - 13 -

12 Kotak Dynamic Floating Rate Fund

ULIF-020-07/12/04-DYFLTRFND-107 - - -

13 Kotak Pension Floating Rate Fund

ULIF-022-07/12/04-PNFLTRFND-107 - - -




Sr No


Paid





14 Kotak Group Floating Rate Fund

ULGF-005-07/12/04-FLTRFND-107 - - -


ULGF-012-03/12/08-60FM271113-107 - - -


ULGF-013-12/01/09-50FM270213-107 - - -


ULGF-014-22/01/09-59FM081213-107 - - -


ULGF-017-14/07/11-57FM070416-107 - - -

19 Kotak Dynamic Balanced Fund

ULIF-009-27/06/03-DYBALFND-107 40 7 2

20 Kotak Guaranteed Balanced Fund

ULIF-010-27/06/03-GRTBALFND-107 160 308 4

21 Kotak Pension Balanced Fund ULIF-011-27/06/03-PNBALFND-107 371 608 9

22 Kotak Group Balanced Fund ULGF-003-27/06/03-BALFND-107 379 281 19

23 Balanced Fund ULIF-037-21/12/09-BALKFND-107 28 - 1

24 Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107 12 - 1

25 Kotak Dynamic Growth Fund ULIF-012-27/06/03-DYGWTFND-107 148 - 7

26 Kotak Guaranteed Growth Fund

ULIF-013-27/06/03-GRTGWTFND-107 2,229 2,508 66

27 Kotak Pension Growth Fund ULIF-030-07/01/09-PNGWTFND-107 42 7 1

28 Kotak Aggressive Growth Fund

ULIF-018-13/09/04-AGRGWTFND-107 833 - 40

29 FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107 465 - 22

30 PensionFrontlineEquityFund ULIF-044-11/01/10-PNFRLEQFND-107 83 - 4

31 Kotak Opportunities Fund ULIF-029-02/10/08-OPPFND-107 2,763 - 327

32 Kotak Pension Opportunities Fund

ULIF-032-17/07/09-PNOPPFND-107 67 - 7

33 Classic Opportunities Fund ULIF-033-16/12/09-CLAOPPFND-107 3,121 - 384

34 Pension Classic Opportunities Fund

ULIF-042-07/01/10-PNCLAOPFND-107 592 - 67

35 Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107 2,291 2,759 -

36 Kotak Group Dynamic Floor Fund

ULGF-015-07/01/10-DYFLRFND-107 14 - -

37 Kotak Pension Floor Fund ULIF-031-13/07/09-PNFLRFND-107 171 265 -

38 Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107 1,521 1,790 -

39 Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107 323 406 -





Sr No


Paid





40 Guarantee Fund ULIF-048-05/02/10-GRTFND-107 109 150 -

41 Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107 339 428 -

42 Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107 69 133 -

43 Kotak Advantage Multiplier Fund

ULIF-024-07/02/06-ADVMULFND-107 - - -

44 Kotak Advantage Plus Fund ULIF-023-06/02/06-ADVPLSFND-107 - - -

45 Kotak Advantage Multiplier Fund II

ULIF-026-21/04/06-ADVMULFND2-107 - - -

46 Kotak Advantage Plus Fund II ULIF-027-21/04/06-ADVPLSFND2-107 - - -

Grand Total 16,170 14,377 961


Statement Showing Company wise Details of Investments held in Promoter Group

Sr No

Fund name SFIN Kotak Mahindra Prime Ltd - Debentures

Amount Percentage

1 Kotak Group Money Market Fund ULGF-001-27/06/03-MNMKFND-107 - -

2 Money Market Fund ULIF-041-05/01/10-MNMKKFND-107 - -

3 Pension Money Market Fund II ULIF-039-28/12/09-PNMNMKFND-107 - -

4 Discontinued Policy Fund ULIF-006-27/06/03-DYGLTFND-107 - -

5 Kotak Dynamic Gilt Fund ULIF-006-27/06/03-DYGLTFND-107 - -

6 Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107 - -

7 Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107 - -

8 Kotak Dynamic Bond Fund ULIF-015-15/04/04-DYBNDFND-107 33,952 0.44%

9 Kotak Pension Bond Fund ULIF-017-15/04/04-PNBNDFND-107 5,992 0.55%

10 Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107 19,972 0.47%

11 Kotak Group Secure Capital Fund ULGF-016-12/04/11-SECCAPFND-107 - -

12 Kotak Dynamic Floating Rate Fund ULIF-020-07/12/04-DYFLTRFND-107 - -

13 Kotak Pension Floating Rate Fund ULIF-022-07/12/04-PNFLTRFND-107 - -

14 Kotak Group Floating Rate Fund ULGF-005-07/12/04-FLTRFND-107 - -

15 Kotak Group 60M FMP 27/11/2013 ULGF-012-03/12/08-60FM271113-107 - -




19 Kotak Dynamic Balanced Fund ULIF-009-27/06/03-DYBALFND-107 - -

20 Kotak Guaranteed Balanced Fund ULIF-010-27/06/03-GRTBALFND-107 3,994 0.35%




Sr No

Fund name SFIN Kotak Mahindra Prime Ltd - Debentures

Amount Percentage

21 Kotak Pension Balanced Fund ULIF-011-27/06/03-PNBALFND-107 7,989 0.34%

22 Kotak Group Balanced Fund ULGF-003-27/06/03-BALFND-107 3,994 0.20%

23 Balanced Fund ULIF-037-21/12/09-BALKFND-107 - -

24 Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107 - -

25 Kotak Dynamic Growth Fund ULIF-012-27/06/03-DYGWTFND-107 - -

26 Kotak Guaranteed Growth Fund ULIF-013-27/06/03-GRTGWTFND-107 35,949 0.30%

27 Kotak Pension Growth Fund ULIF-030-07/01/09-PNGWTFND-107 - -

28 Kotak Aggressive Growth Fund ULIF-018-13/09/04-AGRGWTFND-107 - -

29 FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107 - -

30 PensionFrontlineEquityFund ULIF-044-11/01/10-PNFRLEQFND-107 - -

31 Kotak Opportunities Fund ULIF-029-02/10/08-OPPFND-107 - -

32 Kotak Pension Opportunities Fund ULIF-032-17/07/09-PNOPPFND-107 - -

33 Classic Opportunities Fund ULIF-033-16/12/09-CLAOPPFND-107 - -

34 Pension Classic Opportunities Fund ULIF-042-07/01/10-PNCLAOPFND-107 - -

35 Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107 41,941 0.41%

36 Kotak Group Dynamic Floor Fund ULGF-015-07/01/10-DYFLRFND-107 - -

37 Kotak Pension Floor Fund ULIF-031-13/07/09-PNFLRFND-107 3,995 0.60%

38 Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107 25,963 0.39%

39 Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107 5,992 0.47%

40 Guarantee Fund ULIF-048-05/02/10-GRTFND-107 1,997 0.44%

41 Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107 5,992 0.42%

42 Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107 1,997 0.67%

43 Kotak Advantage Multiplier Fund ULIF-024-07/02/06-ADVMULFND-107 - -

44 Kotak Advantage Plus Fund ULIF-023-06/02/06-ADVPLSFND-107 - -

45 Kotak Advantage Multiplier Fund II ULIF-026-21/04/06-ADVMULFND2-107 - -

46 Kotak Advantage Plus Fund II ULIF-027-21/04/06-ADVPLSFND2-107 - -

Grand Total * 199,719 0.25%

* This amount represents total exposure to promoter group as a percentage of total fund size






NAV Highest Lowest & closing at the end of the year

Sr. No

Mfund Code

Fund Name SFIN Highest NAV

Lowest NAV

Closing NAV

1 KMMF Kotak Group Money Market Fund

ULGF-001-27/06/03-MNMKFND-107 10.62 10.00 10.62

2 MMFK Money Market Fund ULIF-041-05/01/10-MNMKKFND-107 13.64 12.55 13.64

3 PMMFK Pension Money Market Fund II ULIF-039-28/12/09-PNMNMKFND-107 13.66 12.59 13.66

4 DDCN Discontinued Policy Fund ULIF-050-23/03/11-DISPOLFND-107 12.85 11.86 12.85

5 DGILT ULIF-006-27/06/03-DYGLTFND-107

ULIF-006-27/06/03-DYGLTFND-107 20.65 18.13 19.56

6 PGILT Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107 21.04 18.45 19.93

7 KGILT Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107 21.28 18.69 20.17

8 DBOND Kotak Dynamic Bond Fund ULIF-015-15/04/04-DYBNDFND-107 22.21 19.84 21.67

9 PBOND Kotak Pension Bond Fund ULIF-017-15/04/04-PNBNDFND-107 22.29 19.92 21.74

10 KBOND Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107 23.28 20.81 22.78

11 KGSC Kotak Group Secure Capital Fund

ULGF-016-12/04/11-SECCAPFND-107 12.96 11.64 12.70

12 DFRF Kotak Dynamic Floating Rate Fund

ULIF-020-07/12/04-DYFLTRFND-107 19.46 17.44 19.46

13 PFRF Kotak Pension Floating Rate Fund

ULIF-022-07/12/04-PNFLTRFND-107 19.54 17.52 19.54

14 KFRF Kotak Group Floating Rate Fund

ULGF-005-07/12/04-FLTRFND-107 20.20 18.04 20.20

15 KFMP4 Kotak Group 60M FMP 27/11/2013

ULGF-012-03/12/08-60FM271113-107 15.93 15.13 -


ULGF-013-12/01/09-50FM270213-107 - - -


ULGF-014-22/01/09-59FM081213-107 15.04 14.25 -


ULGF-017-14/07/11-57FM070416-107 12.68 11.69 12.68

19 DBGF Kotak Dynamic Balanced Fund ULIF-009-27/06/03-DYBALFND-107 38.32 32.56 38.32

20 GBGF Kotak Guaranteed Balanced Fund

ULIF-010-27/06/03-GRTBALFND-107 34.36 30.81 34.36

21 PBGF Kotak Pension Balanced Fund ULIF-011-27/06/03-PNBALFND-107 34.94 31.33 34.94

22 KBGF Kotak Group Balanced Fund ULGF-003-27/06/03-BALFND-107 38.54 32.70 38.54

23 BGFFK Balanced Fund ULIF-037-21/12/09-BALKFND-107 13.50 11.53 13.50

24 PBGFK Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107 13.25 11.28 13.25

25 DHEGF Kotak Dynamic Growth Fund ULIF-012-27/06/03-DYGWTFND-107 43.61 36.00 43.61

26 GHEGF Kotak Guaranteed Growth Fund

ULIF-013-27/06/03-GRTGWTFND-107 39.24 34.71 39.24




Sr. No

Mfund Code

Fund Name SFIN Highest NAV

Lowest NAV

Closing NAV

27 PHEGF Kotak Pension Growth Fund ULIF-030-07/01/09-PNGWTFND-107 16.72 14.80 16.72

28 NLIIA Kotak Aggressive Growth Fund ULIF-018-13/09/04-AGRGWTFND-107 42.64 33.92 42.64

29 FRONTK FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107 13.32 10.66 13.32

30 PFRONK PensionFrontlineEquityFund ULIF-044-11/01/10-PNFRLEQFND-107 14.11 11.25 14.11

31 OPPF Kotak Opportunities Fund ULIF-029-02/10/08-OPPFND-107 25.27 19.95 25.27

32 POPF Kotak Pension Opportunities Fund

ULIF-032-17/07/09-PNOPPFND-107 14.42 11.43 14.42

33 CLASK Classic Opportunities Fund ULIF-033-16/12/09-CLAOPPFND-107 14.06 11.11 14.06

34 PCLASK Pension Classic Opportunities Fund

ULIF-042-07/01/10-PNCLAOPFND-107 14.39 11.32 14.39

35 DYFF Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107 19.76 17.52 19.29

36 KYFF Kotak Group Dynamic Floor Fund

ULGF-015-07/01/10-DYFLRFND-107 20.09 17.94 19.78

37 PNFF Kotak Pension Floor Fund ULIF-031-13/07/09-PNFLRFND-107 12.69 11.24 12.37

38 DYFFK Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107 12.65 11.22 12.40

39 PNFFK Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107 12.59 11.15 12.33

40 GGFK Guarantee Fund ULIF-048-05/02/10-GRTFND-107 13.26 11.76 13.00

41 PGFK Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107 12.66 11.21 12.40

42 GGPK Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107 12.77 11.36 12.50

43 KAMF Kotak Advantage Multiplier Fund

ULIF-024-07/02/06-ADVMULFND-107 14.99 14.24 14.99

44 KAPF Kotak Advantage Plus Fund ULIF-023-06/02/06-ADVPLSFND-107 16.97 16.33 -

45 KAM2 Kotak Advantage Multiplier Fund II

ULIF-026-21/04/06-ADVMULFND2-107 15.00 14.19 15.00

46 KAP2 Kotak Advantage Plus Fund II ULIF-027-21/04/06-ADVPLSFND2-107 15.40 14.67 15.40

Note:TheaboveNAVsarewithoutAppropriation/ExpropriationCharges.











Annualised Expense ratio to average daily assets of the Fund

Sr No

Fund Name SFIN Annualised Expense

Average Daily Assets of the Funds

Annualised Expense

Ratio

1 Kotak Group Money Market Fund ULGF-001-27/06/03-MNMKFND-107 1,701 298,988 0.90%

2 Money Market Fund ULIF-041-05/01/10-MNMKKFND-107 6,048 897,033 0.67%

3 Pension Money Market Fund II ULIF-039-28/12/09-PNMNMKFND-107 933 138,351 0.67%

4 Discontinued Policy Fund ULIF-050-23/03/11-DISPOLFND-107 3,982 708,764 0.56%

5 Kotak Dynamic Gilt Fund ULIF-006-27/06/03-DYGLTFND-107 4,870 433,454 1.12%

6 Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107 1,158 103,086 1.12%

7 Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107 1,475 164,124 0.90%

8 Kotak Dynamic Bond Fund ULIF-015-15/04/04-DYBNDFND-107 101,354 7,516,796 1.35%

9 Kotak Pension Bond Fund ULIF-017-15/04/04-PNBNDFND-107 15,233 1,129,723 1.35%

10 Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107 38,596 4,293,645 0.90%

11 Kotak Group Secure Capital Fund ULGF-016-12/04/11-SECCAPFND-107 764 75,548 1.01%

12 Kotak Dynamic Floating Rate Fund ULIF-020-07/12/04-DYFLTRFND-107 4,357 323,143 1.35%

13 Kotak Pension Floating Rate Fund ULIF-022-07/12/04-PNFLTRFND-107 719 53,320 1.35%

14 Kotak Group Floating Rate Fund ULGF-005-07/12/04-FLTRFND-107 1,217 135,437 0.90%

15 Kotak Group 60M FMP 27/11/2013 ULGF-012-03/12/08-60FM271113-107 323 72,644 0.67%

16 Kotak Group 50M FMP 27/02/2013 ULGF-013-12/01/09-50FM270213-107 - - -

17 Kotak Group 59M FMP 08/12/2013 ULGF-014-22/01/09-59FM081213-107 105 27,428 0.56%

18 Kotak Group 57M FMP 07/04/2016 ULGF-017-14/07/11-57FM070416-107 1,059 235,573 0.45%

19 Kotak Dynamic Balanced Fund ULIF-009-27/06/03-DYBALFND-107 2,864 196,093 1.46%

20 Kotak Guaranteed Balanced Fund ULIF-010-27/06/03-GRTBALFND-107 17,691 1,211,108 1.46%

21 Kotak Pension Balanced Fund ULIF-011-27/06/03-PNBALFND-107 38,120 2,609,641 1.46%

22 Kotak Group Balanced Fund ULGF-003-27/06/03-BALFND-107 21,457 1,909,649 1.12%

23 Balanced Fund ULIF-037-21/12/09-BALKFND-107 2,073 136,627 1.52%

24 Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107 811 53,437 1.52%

25 Kotak Dynamic Growth Fund ULIF-012-27/06/03-DYGWTFND-107 9,549 566,572 1.69%

26 Kotak Guaranteed Growth Fund ULIF-013-27/06/03-GRTGWTFND-107 226,228 13,422,212 1.69%

27 Kotak Pension Growth Fund ULIF-030-07/01/09-PNGWTFND-107 4,050 240,299 1.69%

28 Kotak Aggressive Growth Fund ULIF-018-13/09/04-AGRGWTFND-107 45,134 2,510,434 1.80%

29 FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107 20,779 1,369,786 1.52%

30 PensionFrontlineEquityFund ULIF-044-11/01/10-PNFRLEQFND-107 3,717 245,006 1.52%

31 Kotak Opportunities Fund ULIF-029-02/10/08-OPPFND-107 159,408 7,093,202 2.25%

32 Kotak Pension Opportunities Fund ULIF-032-17/07/09-PNOPPFND-107 3,536 157,346 2.25%




Sr No

Fund Name SFIN Annualised Expense


Annualised Expense

Ratio

33 Classic Opportunities Fund ULIF-033-16/12/09-CLAOPPFND-107 122,292 8,061,877 1.52%

34 Pension Classic Opportunities Fund ULIF-042-07/01/10-PNCLAOPFND-107 23,176 1,527,856 1.52%

35 Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107 202,948 10,320,763 1.97%

36 Kotak Group Dynamic Floor Fund ULGF-015-07/01/10-DYFLRFND-107 737 52,487 1.40%

37 Kotak Pension Floor Fund ULIF-031-13/07/09-PNFLRFND-107 14,869 756,156 1.97%

38 Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107 100,831 6,647,100 1.52%

39 Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107 20,832 1,373,311 1.52%

40 Guarantee Fund ULIF-048-05/02/10-GRTFND-107 7,221 476,032 1.52%

41 Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107 21,893 1,443,219 1.52%

42 Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107 6,610 336,139 1.97%

43 Kotak Advantage Multiplier Fund ULIF-024-07/02/06-ADVMULFND-107 607 17,996 3.37%

44 Kotak Advantage Plus Fund ULIF-023-06/02/06-ADVPLSFND-107 6 617 3.37%

45 Kotak Advantage Multiplier Fund II ULIF-026-21/04/06-ADVMULFND2-107 601 17,832 3.37%

46 Kotak Advantage Plus Fund II ULIF-027-21/04/06-ADVPLSFND2-107 149 4,420 3.37%







Annualised Income ratio to Average daily assets of the Fund

Sr No

Fund Name SFIN code Annualised Income


Annualised Income Ratio

1 Kotak Group Money Market Fund ULGF-001-27/06/03-MNMKFND-107 19,324 298,988 10.21%

2 Money Market Fund ULIF-041-05/01/10-MNMKKFND-107 81,209 897,033 9.05%

3 Pension Money Market Fund II ULIF-039-28/12/09-PNMNMKFND-107 12,323 138,351 8.91%

4 Discontinued Policy Fund ULIF-050-23/03/11-DISPOLFND-107 60,860 708,764 8.59%

5 Kotak Dynamic Gilt Fund ULIF-006-27/06/03-DYGLTFND-107 13,962 433,454 3.22%

6 Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107 3,134 103,086 3.04%

7 Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107 4,924 164,124 3.00%

8 Kotak Dynamic Bond Fund ULIF-015-15/04/04-DYBNDFND-107 327,747 7,516,796 4.36%

9 Kotak Pension Bond Fund ULIF-017-15/04/04-PNBNDFND-107 47,876 1,129,723 4.24%

10 Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107 187,106 4,293,645 4.36%

11 Kotak Group Secure Capital Fund ULGF-016-12/04/11-SECCAPFND-107 3,302 75,548 4.37%

12 Kotak Dynamic Floating Rate Fund ULIF-020-07/12/04-DYFLTRFND-107 38,972 323,143 12.06%

13 Kotak Pension Floating Rate Fund ULIF-022-07/12/04-PNFLTRFND-107 6,508 53,320 12.20%





Sr No

Fund Name SFIN code Annualised Income


Annualised Income Ratio

14 Kotak Group Floating Rate Fund ULGF-005-07/12/04-FLTRFND-107 16,129 135,437 11.91%


16 Kotak Group 50M FMP 27/02/2013 ULGF-013-12/01/09-50FM270213-107 - - -



19 Kotak Dynamic Balanced Fund ULIF-009-27/06/03-DYBALFND-107 25,211 196,093 12.86%

20 Kotak Guaranteed Balanced Fund ULIF-010-27/06/03-GRTBALFND-107 98,834 1,211,108 8.16%

21 Kotak Pension Balanced Fund ULIF-011-27/06/03-PNBALFND-107 214,726 2,609,641 8.23%

22 Kotak Group Balanced Fund ULGF-003-27/06/03-BALFND-107 248,520 1,909,649 13.01%

23 Balanced Fund ULIF-037-21/12/09-BALKFND-107 18,418 136,627 13.48%

24 Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107 7,025 53,437 13.15%

25 Kotak Dynamic Growth Fund ULIF-012-27/06/03-DYGWTFND-107 88,845 566,572 15.68%

26 Kotak Guaranteed Growth Fund ULIF-013-27/06/03-GRTGWTFND-107 1,279,253 13,422,212 9.53%

27 Kotak Pension Growth Fund ULIF-030-07/01/09-PNGWTFND-107 23,274 240,299 9.69%

28 Kotak Aggressive Growth Fund ULIF-018-13/09/04-AGRGWTFND-107 467,446 2,510,434 18.62%

29 FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107 262,968 1,369,786 19.20%

30 PensionFrontlineEquityFund ULIF-044-11/01/10-PNFRLEQFND-107 45,881 245,006 18.73%

31 Kotak Opportunities Fund ULIF-029-02/10/08-OPPFND-107 1,210,462 7,093,202 17.07%

32 Kotak Pension Opportunities Fund ULIF-032-17/07/09-PNOPPFND-107 27,353 157,346 17.38%

33 Classic Opportunities Fund ULIF-033-16/12/09-CLAOPPFND-107 1,386,448 8,061,877 17.20%

34 Pension Classic Opportunities Fund ULIF-042-07/01/10-PNCLAOPFND-107 257,597 1,527,856 16.86%

35 Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107 621,952 10,320,763 6.03%

36 Kotak Group Dynamic Floor Fund ULGF-015-07/01/10-DYFLRFND-107 2,510 52,487 4.78%

37 Kotak Pension Floor Fund ULIF-031-13/07/09-PNFLRFND-107 42,765 756,156 5.66%

38 Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107 403,775 6,647,100 6.07%

39 Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107 81,686 1,373,311 5.95%

40 Guarantee Fund ULIF-048-05/02/10-GRTFND-107 28,971 476,032 6.09%

41 Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107 86,048 1,443,219 5.96%

42 Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107 20,966 336,139 6.24%

43 Kotak Advantage Multiplier Fund ULIF-024-07/02/06-ADVMULFND-107 1,163 17,996 6.46%

44 Kotak Advantage Plus Fund ULIF-023-06/02/06-ADVPLSFND-107 34 617 18.29%

45 Kotak Advantage Multiplier Fund II ULIF-026-21/04/06-ADVMULFND2-107 1,267 17,832 7.11%

46 Kotak Advantage Plus Fund II ULIF-027-21/04/06-ADVPLSFND2-107 341 4,420 7.71%










Fundwise Disclosure of Appreciation /(Depreciation) in value of Investment Segregated Classwise

Sr No Fund Name SFIN Investment Type

Corporate Bonds

Equities Government Guaranteed

Bonds

Government Securities

Grand Total

1 Kotak Group Money Market Fund ULGF-001-27/06/03-MNMKFND-107 - - - - -

2 Money Market Fund ULIF-041-05/01/10-MNMKKFND-107 - - - - -

3 Pension Money Market Fund II ULIF-039-28/12/09-PNMNMKFND-107 - - - - -

4 Discontinued Policy Fund ULIF-006-27/06/03-DYGLTFND-107 - - - - -

5 Kotak Dynamic Gilt Fund ULIF-006-27/06/03-DYGLTFND-107 - - (3,315) (83) (3,398)

6 Kotak Pension Gilt Fund ULIF-008-27/06/03-PNGLTFND-107 - - (723) (31) (754)

7 Kotak Group Gilt Fund ULGF-002-27/06/03-GLTFND-107 - - (1,416) (10) (1,426)

8 Kotak Dynamic Bond Fund ULIF-015-15/04/04-DYBNDFND-107 (42,647) - (2,122) 6,044 (38,725)

9 Kotak Pension Bond Fund ULIF-017-15/04/04-PNBNDFND-107 (6,341) - (351) 827 (5,865)

10 Kotak Group Bond Fund ULGF-004-15/04/04-BNDFND-107 (22,746) - (1,143) 3,022 (20,867)

11 Kotak Group Secure Capital Fund ULGF-016-12/04/11-SECCAPFND-107 (195) - (28) 50 (173)

12 Kotak Dynamic Floating Rate Fund ULIF-020-07/12/04-DYFLTRFND-107 1,682 - 66 (398) 1,350

13 Kotak Pension Floating Rate Fund ULIF-022-07/12/04-PNFLTRFND-107 250 - 19 (53) 216

14 Kotak Group Floating Rate Fund ULGF-005-07/12/04-FLTRFND-107 1,021 - 440 (123) 1,338

15 Kotak Group 60M FMP 27/11/2013 ULGF-012-03/12/08-60FM271113-107 - - - - -



18 Kotak Group 57M FMP 07/04/2016 ULGF-017-14/07/11-57FM070416-107 (299) - - - (299)

19 Kotak Dynamic Balanced Fund ULIF-009-27/06/03-DYBALFND-107 (303) 19,721 (54) 46 19,410

20 Kotak Guaranteed Balanced Fund ULIF-010-27/06/03-GRTBALFND-107 (3,757) 57,322 (504) 205 53,266

21 Kotak Pension Balanced Fund ULIF-011-27/06/03-PNBALFND-107 (8,603) 121,620 (1,532) 602 112,087

22 Kotak Group Balanced Fund ULGF-003-27/06/03-BALFND-107 (4,291) 219,723 (320) 580 215,692

23 Balanced Fund ULIF-037-21/12/09-BALKFND-107 (212) 15,347 (44) 40 15,131

24 Pension Balanced Fund II ULIF-046-24/01/10-PNBALFND2-107 (39) 4,998 (15) 7 4,951

25 Kotak Dynamic Growth Fund ULIF-012-27/06/03-DYGWTFND-107 (1,110) 89,653 (244) (263) 88,036

26 Kotak Guaranteed Growth Fund ULIF-013-27/06/03-GRTGWTFND-107 (41,193) 896,429 (4,836) 2,387 852,787

27 Kotak Pension Growth Fund ULIF-030-07/01/09-PNGWTFND-107 (471) 15,805 (38) 82 15,378

28 Kotak Aggressive Growth Fund ULIF-018-13/09/04-AGRGWTFND-107 - 515,236 - - 515,236

29 FrontlineEquityFund ULIF-034-17/12/09-FRLEQUFND-107 - 270,970 - - 270,970

30 PensionFrontlineEquityFund ULIF-044-11/01/10-PNFRLEQFND-107 - 44,602 - - 44,602

31 Kotak Opportunities Fund ULIF-029-02/10/08-OPPFND-107 - 1,191,686 - - 1,191,686

32 Kotak Pension Opportunities Fund ULIF-032-17/07/09-PNOPPFND-107 - 24,717 - - 24,717

33 Classic Opportunities Fund ULIF-033-16/12/09-CLAOPPFND-107 - 1,331,395 - - 1,331,395

34 Pension Classic Opportunities Fund ULIF-042-07/01/10-PNCLAOPFND-107 - 230,243 - - 230,243





Sr No Fund Name SFIN Investment Type

Corporate Bonds

Equities Government Guaranteed

Bonds

Government Securities

Grand Total

35 Dynamic Floor Fund ULIF-028-14/11/06-DYFLRFND-107 (42,838) 296,868 (8,114) 2,151 248,067

36 Kotak Group Dynamic Floor Fund ULGF-015-07/01/10-DYFLRFND-107 (121) 1,231 7 14 1,131

37 Kotak Pension Floor Fund ULIF-031-13/07/09-PNFLRFND-107 (3,150) 19,763 (530) 58 16,141

38 Dynamic Floor Fund II ULIF-035-17/12/09-DYFLRFND2-107 (26,597) 205,893 (4,436) 596 175,456

39 Pension Floor Fund II ULIF-043-08/01/10-PNFLRKFND2-107 (5,806) 39,637 (853) (121) 32,857

40 Guarantee Fund ULIF-048-05/02/10-GRTFND-107 (1,463) 14,523 (376) (248) 12,436

41 Pension Guarantee Fund ULIF-038-21/12/09-PNGRTFND-107 (5,435) 42,026 (1,156) (653) 34,782

42 Peak Guarantee Fund I ULIF-049-14/02/10-PKGRTFND1-107 (909) 9,078 (271) (227) 7,671

43 Kotak Advantage Multiplier Fund ULIF-024-07/02/06-ADVMULFND-107 (57) - (17) (277) (351)

44 Kotak Advantage Plus Fund ULIF-023-06/02/06-ADVPLSFND-107 - - - - -

45 Kotak Advantage Multiplier Fund II ULIF-026-21/04/06-ADVMULFND2-107 15 - (20) (84) (89)

46 Kotak Advantage Plus Fund II ULIF-027-21/04/06-ADVPLSFND2-107 - - - 13 13

Grand Total (215,615) 5,678,486 (31,926) 14,153 5,445,098







Industry wise disclosure of investments with exposure of 10% and above segregated at scrip level

Industry Kotak Group Money Market Fund

% of Total Funds

ULGF-001-27/06/03-MNMKFND-107

Financial and insurance activities

Andhra Bank CD - 17.09.2014 28,458 7.58%

Bajaj Finance Limited CP - 02.12.2014 12,668 3.38%


Bajaj Finance Limited CP - 23.04.2014 497 0.13%

Bank of India CD - 13.03.15 23,005 6.13%

Canara Bank CD - 01.12.2014 12,630 3.37%

Corporation Bank CD - 13.03.2015 15,176 4.04%

EXIMCD-13.12.2014 33,828 9.01%

HDFC Ltd CP - 02.12.14 27,241 7.26%

HDFC Ltd CP - 16.06.14 4,902 1.31%

ICICI Bank CD - 22.09.14 31,112 8.29%

IDFC CP - 07.08.14 24,184 6.44%

L&T Finance CP - 07.10.2014 31,359 8.36%

Oriental Bank of Commerce CD - 01.12.2014 27,802 7.41%

PNB CD - 02.03.2015 32,291 8.60%

RECLtdCP-31.07.14 24,228 6.46%




Industry Kotak Group Money Market Fund

% of Total Funds

ULGF-001-27/06/03-MNMKFND-107

Sundaram Fin CP - 18.09.14 31,486 8.40%

Total 375,018 99.94%

NCA 243 0.06%

Grand Total 375,261 100.00%


Industry Money Market Fund % of Total Funds






Bank of Baroda CD - 10.12.2014 106,736 6.12%

Bank of Baroda CD - 22.01.2015 38,989 2.24%

Bank of India CD - 13.03.15 99,382 5.70%

Canara Bank CD - 01.12.2014 106,597 6.11%

CBLO - 02.04.2014 10,497 0.60%

Corporation Bank CD - 02.09.2014 193 0.01%



EXIMCD-13.12.2014 107,778 6.18%

HDFC Ltd CP - 02.12.14 37,574 2.15%

HDFC Ltd CP - 16.06.14 66,754 3.83%

ICICI Bank CD - 22.09.14 8,145 0.47%

IDFC CP - 07.08.14 112,319 6.44%

L&T Finance CP - 07.10.2014 49,013 2.81%



PNB CD - 02.03.2015 26,479 1.52%

PNB CD - 02.06.2014 34,457 1.98%

RECLtdCP-31.07.14 110,585 6.34%

State Bank of Mysore CD - 24.09.2014 63,026 3.61%

State Bank of Patiala CD - 01.12.2014 106,970 6.13%

Sundaram BNP Paribas Home Finance CP - 15.05.14 51,447 2.95%

Sundaram Fin CP - 18.09.14 7,169 0.41%

Vijaya Bank CD - 03.06.2014 99,182 5.70%

Total 1,579,392 90.56%

Others

Manufacture of coke and refined petroleum products 6,976 0.40%

NCA 157,669 9.04%

Grand Total 1,744,037 100.00%






Industry Pension Money Market Fund II

% of Total Funds





Bank of Baroda CD - 10.12.2014 14,576 7.89%

Bank of Baroda CD - 22.01.2015 2,792 1.51%

Bank of India CD - 13.03.15 6,441 3.48%

Canara Bank CD - 01.12.2014 15,269 8.26%

CBLO - 02.04.2014 500 0.27%




EXIMCD-13.12.2014 15,316 8.29%

HDFC Ltd CP - 02.12.14 4,227 2.29%

HDFC Ltd CP - 16.06.14 10,309 5.58%

ICICI Bank CD - 22.09.14 1,629 0.88%

IDFC CP - 07.08.14 15,011 8.12%

L&T Finance CP - 07.10.2014 5,709 3.09%


Oriental Bank of Commerce CD - 20.03.2015 184 0.10%

PNB CD - 02.03.2015 923 0.50%

PNB CD - 02.06.2014 984 0.53%

RECLtdCP-31.07.14 12,616 6.82%




Vijaya Bank CD - 03.06.2014 13,502 7.29%

Total 185,933 100.58%

Others


Net Current Assets -2,571 -1.39%

Grand Total 184,856 100.00%





Industry Discontinued Policy Fund

% of Total Funds






Bank of Baroda CD - 10.12.2014 66,769 6.42%

Bank of Baroda CD - 22.01.2015 27,925 2.69%

Bank of India CD - 13.03.15 73,616 7.08%

Canara Bank CD - 01.12.2014 70,971 6.83%

CBLO - 02.04.2014 8,498 0.82%



EXIMCD-13.12.2014 71,414 6.87%

HDFC Ltd CP - 16.06.14 65,358 6.29%

ICICI Bank CD - 22.09.14 6,989 0.67%

IDFC CP - 07.08.14 73,598 7.08%

L&T Finance CP - 07.10.2014 37,153 3.58%



PNB CD - 02.03.2015 10,149 0.98%

PNB CD - 02.06.2014 14,275 1.37%

RECLtdCP-31.07.14 73,229 7.05%




Vijaya Bank CD - 03.06.2014 66,850 6.44%

Total 1,034,616 99.56%

Others


Net Current Assets (5,871) -0.56%

Grand Total 1,039,209 100.00%






Industry Kotak Dynamic Gilt Fund

% of Total Funds


GOVT. of INDIA

10.25% GOI - 30.05.21 152 0.04%

7.16% GOI - 20.05.2023 60,130 15.45%

7.17% GOI - 14.06.2015 6,628 1.70%

7.28% GOI - 03.06.2019 9,471 2.43%

7.46% GOI - 28.08.17 10 0.00%

7.59% GOI 2016 7,307 1.88%

7.94% GOI - 24.05.21 10,437 2.68%

8.08% GOI - 02.08.2022 3,628 0.93%

8.20% GOI - 24.09.2025 5,249 1.35%

8.24% GOI - 15.02.27 45,733 11.75%

8.28% GOI - 15.02.32 6,895 1.77%

8.28% GOI - 21.09.2027 48,969 12.58%

8.30% GOI 2040 ZCG - 02.01.2015 38 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 39 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 36 0.01%

8.32% GOI - 02.08.2032 1,330 0.34%

8.83% GOI - 25.11.2023 54,346 13.96%

9.20% GOI - 30.09.2030 7,116 1.84%

Total 267,514 68.73%

State Development Loan

8.31%GJSDL-03.02.2020 2,567 0.66%

8.52%GJSDL-19.01.2021 7,505 1.93%

8.70%GJSDL-20.09.2016 9,085 2.33%

8.91% MAH SDL - 05.09.2022 12,937 3.32%

8.92% KA SDL - 07.03.2022 5,159 1.33%

8.94%GJSDL-07.03.2022 2,145 0.55%

8.98% PN SDL - 14.10.2021 11,678 3.00%

8.99% MP SDL - 07.03.2022 21,379 5.49%

9.18% PN SDL 2021 - 09.11.2021 947 0.25%

Total 73,402 18.86%


Bank of India CD - 13.03.15 7,914 2.03%

Canara Bank CD - 01.12.2014 5,938 1.53%

CBLO - 02.04.2014 9,996 2.57%


PNB CD - 02.06.2014 3,938 1.01%

Vijaya Bank CD - 03.06.2014 11,340 2.91%

Total 45,346 11.65%

Net Current Assets 2,934 0.76%

Grand Total 389,196 100.00%





Industry Kotak Pension Gilt Fund

% of Total Funds


GOVT. of INDIA

7.16% GOI - 20.05.2023 13,248 15.13%

7.17% GOI - 14.06.2015 1,200 1.37%

7.28% GOI - 03.06.2019 2,221 2.54%

7.59% GOI 2016 1,737 1.98%

7.94% GOI - 24.05.21 2,149 2.46%

8.08% GOI - 02.08.2022 917 1.05%

8.20% GOI - 24.09.2025 1,280 1.46%

8.24% GOI - 15.02.27 10,204 11.65%

8.28% GOI - 15.02.32 2,099 2.40%

8.28% GOI - 21.09.2027 10,848 12.39%

8.30% GOI 2040 ZCG - 02.01.2015 18 0.02%

8.30% GOI 2040 ZCG - 02.07.2014 19 0.02%

8.30% GOI 2040 ZCG - 02.07.2015 17 0.02%

8.32% GOI - 02.08.2032 192 0.22%

8.83% GOI - 25.11.2023 12,178 13.91%

9.20% GOI - 30.09.2030 1,565 1.79%

Total 59,892 68.41%


8.31%GJSDL-03.02.2020 475 0.54%

8.52%GJSDL-19.01.2021 1,529 1.75%

8.70%GJSDL-20.09.2016 2,319 2.65%

8.91% MAH SDL - 05.09.2022 4,028 4.60%

8.92% KA SDL - 07.03.2022 1,095 1.25%

8.94%GJSDL-07.03.2022 544 0.62%

8.98% PN SDL - 14.10.2021 2,296 2.62%

8.99% MP SDL - 07.03.2022 3,749 4.28%

9.18% PN SDL 2021 - 09.11.2021 440 0.51%

Total 16,475 18.82%

Others

Financial and insurance activities 8,232 9.40%


Grand Total 87,549 100.00%






Industry Kotak Group Gilt Fund % of Total Funds

ULGF-002-27/06/03-GLTFND-107

GOVT. of INDIA

7.16% GOI - 20.05.2023 23,863 14.32%

7.17% GOI - 14.06.2015 2,515 1.51%

7.28% GOI - 03.06.2019 3,584 2.15%

7.59% GOI 2016 2,665 1.60%

7.94% GOI - 24.05.21 3,955 2.37%

7.95% Oil Bond - 18.01.25 182 0.11%

8.08% GOI - 02.08.2022 1,045 0.63%

8.20% GOI - 24.09.2025 1,988 1.19%

8.24% GOI - 15.02.27 18,583 11.15%

8.28% GOI - 15.02.32 4,128 2.48%

8.28% GOI - 21.09.2027 19,531 11.72%

8.30% GOI 2040 ZCG - 02.01.2015 8 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 9 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 8 0.00%

8.32% GOI - 02.08.2032 497 0.30%

8.83% GOI - 25.11.2023 22,123 13.28%

9.20% GOI - 30.09.2030 2,904 1.73%

Total 107,588 64.56%


8.31%GJSDL-03.02.2020 950 0.57%

8.52%GJSDL-19.01.2021 2,411 1.45%

8.70%GJSDL-20.09.2016 3,449 2.07%

8.91% MAH SDL - 05.09.2022 4,744 2.85%

8.92% KA SDL - 07.03.2022 1,599 0.96%

8.94%GJSDL-07.03.2022 1,939 1.16%

8.98% PN SDL - 14.10.2021 3,746 2.25%

8.99% MP SDL - 07.03.2022 8,476 5.09%

9.18% PN SDL 2021 - 09.11.2021 211 0.12%

Total 27,525 16.52%


Bank of India CD - 13.03.15 3,221 1.93%

Canara Bank CD - 01.12.2014 2,168 1.30%

CBLO - 02.04.2014 12,496 7.50%


PNB CD - 02.06.2014 1,772 1.06%

Vijaya Bank CD - 03.06.2014 4,437 2.67%

Total 26,356 15.82%

Others


Grand Total 166,637 100.00%





Industry Kotak Dynamic Bond Fund

% of Total Funds


GOVT. of INDIA

1.44%INFLATIONINDEXGS2023 258,135 3.25%

6.35% OMC GOI BOND - 23.12.2024 161 0.00%

6.83% GOI - 19.01.39 642 0.01%

6.90% GOI - 13.07.2019 27,389 0.34%

7.16% GOI - 20.05.2023 702,627 8.85%

7.17% GOI - 14.06.2015 6,086 0.08%

7.38% GOI 2015 - 03.09.2015 4,907 0.06%

7.46% GOI - 28.08.17 67 0.00%

7.50% GOI - 10.08.34 474 0.01%

7.94% GOI - 24.05.21 1,233 0.02%

7.95% GOI - 28.08.32 355 0.00%

7.95% GOI Fertilizer Bond - 18.02.26 2,578 0.03%

8.08% GOI - 02.08.2022 2,337 0.03%

8.24% GOI - 15.02.27 268,863 3.39%

8.26% GOI - 02.08.27 986 0.01%

8.28% GOI - 21.09.2027 863,139 10.87%

8.30% GOI - 31.12.2042 2 0.00%

8.30% GOI 2040 ZCG - 02.01.2015 107 0.00%

8.30% GOI 2040 ZCG - 02.07.2014 111 0.00%

8.30% GOI 2040 ZCG - 02.07.2015 103 0.00%

8.79% GOI - 08.11.2021 8,690 0.11%

8.83% GOI - 25.11.2023 1,314,875 16.56%

9.20% GOI - 30.09.2030 658,565 8.29%

Total 4,122,432 51.91%


10.00% KMPL - 12.09.2014 16,947 0.21%

10.05% Bajaj Finance Ltd - 10.01.2017 90,285 1.14%


10.70% IRFC - 11.09.23 8,643 0.11%

10.75% Magma Fincorp Ltd-07.08.2014 98,834 1.24%

10.75% Shriram Transport Finance Co Ltd 24.10.2016 51,371 0.65%

11.05% KMPL - 30.05.2014 17,005 0.21%

11.15%REC-24.10.2018 11,614 0.15%

7.40% Canara Bank- 29.04.2015 4,906 0.06%

7.50% HDFC - 22.11.2015 969 0.01%

7.90% IIFCL - 28.04.24 52,482 0.66%

8.20% IRFC - 27.04.2023 12,995 0.16%







% of Total Funds


8.20% IRFC - 27.04.2024 2,774 0.03%

8.26% IIFCL - 23.08.28 16,792 0.21%

8.30% PFC - 15.05.2018 P/C 15.05.2015 9,893 0.12%

8.46% IIFCL - 30.08.28 27,423 0.35%

8.48% HDFC - 17.05.2016 3,908 0.05%

8.50% IRFC - 22.06.2020 958 0.01%

8.55% IRFC - 03.02.2020 9,625 0.12%

8.60% LIC Housing Finance - 20.06.2018 5,768 0.07%

8.72% NABARD - 19.02.2018 P 19.05.2014 44,942 0.57%

8.75%REC-12.07.2025 10,321 0.13%

8.80% SBI Upper Tier II - 05.06.2021 Call 05.06.2016 4,796 0.06%

8.80% Sundaram Finance - 03.06.16 103,651 1.31%

8.82%REC-12.04.2023 3,812 0.05%

8.83%EXIM-09.01.2023 2,862 0.04%

8.84%REC-16.10.2014 3,987 0.05%

8.85% Tata Sons - 02.05.2018 10,591 0.13%

8.89% IDFC - 02.12.20 31,700 0.40%


8.90% PFC - 18.03.2028 5,688 0.07%

8.91% PFC - 15.10.2017 5,911 0.07%

8.94% PFC - 25.03.2028 7,602 0.10%

8.95% HDFC - 19.10.2020 14,409 0.18%

8.99% Tata Sons - 07.06.2020 8,557 0.11%

9.00% SBH FD - 11.06.2014 27,000 0.34%

9.02%REC-19.11.2022 3,860 0.05%

9.05% SBH Perpetual Bond Call- 20.09.2020 30,733 0.39%

9.07%EXIM-11.09.2017 4,935 0.06%

9.09% IRFC - 29.03.2026 4,900 0.06%

9.09% IRFC - 31.03.2026 24,393 0.31%

9.1150% LIC Housing Finance - 11.02.18 - P - 11.09.14 27,902 0.35%

9.15%EXIM-20.07.2015P/C20.01.2015 8,966 0.11%

9.20% SBT - 31.07.2017 5,963 0.08%


9.25% IDFC - 13.09.19 29,687 0.37%

9.36% PFC - 01.08.2021 4,929 0.06%

9.38%REC-06.11.2018 1,002 0.01%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 8,991 0.11%

9.43% IRFC - 23.05.18 10,034 0.13%






% of Total Funds


9.45% PFC - 01.09.2026 1,974 0.02%

9.50% SBT FD - 05.07.2014 9,900 0.12%

9.50% SBT FD - 09.07.2014 29,700 0.37%

9.50% SBT FD - 15.07.2014 9,900 0.12%

9.50% SBT FD - 16.07.2014 29,700 0.37%

9.60% HDFC - 07.08.2015 14,958 0.19%

9.64% PFC - 15.12.2016 3,999 0.05%

9.70% ANDHRA BANK FD - 07.04.2016 20,600 0.26%

9.70% PFC - 31.01.2020 4,010 0.05%


9.75% HDFC 07.12.16 - PC 07.01.13 22,034 0.28%


9.75%REC-11.11.2021. 8,067 0.10%

9.75% Tata Sons - 19.07.2016 7,986 0.10%

9.78% Tata Sons - 13.01.2019 197,253 2.48%


9.8265% IDFC 2017 P/C 23.08.13 6,991 0.09%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 18,203 0.23%


9.85% Tata Sons - 21.05.2017 9,007 0.11%

9.87% Tata Sons - 17.07.2017 998 0.01%

9.90% HDFC - 10.06.2021 P - 10.07.12 5,024 0.06%

9.90% Tata Sons - 09.03.2016 11,025 0.14%

9.90% Tata Sons - 20.03.2019 22,092 0.28%

9.98% ICICI Perpetual Bond -CALL 13.09.16. 52,241 0.66%



CBLO - 02.04.2014 25,494 0.32%

HDFC Ltd Floater 5 Year INBMK + 120 bps - 18.01.2016 1,012 0.01%

LIC Housing Finance Ltd INBMK+120BPS -29.07.16 71,150 0.90%

PNB CD - 02.06.2014 81,220 1.06%

Total 1,817,489 22.88%


7.95% MAH SDL - 03.07.2023 43,299 0.55%

8.31%GJSDL-03.02.2020 10,980 0.14%

8.54% MAH SDL - 19.01.2021 12,897 0.16%

8.58%GJSDL-23.01.2023 3,689 0.05%

8.62% MAH SDL - 20.02.2023 8,967 0.11%







% of Total Funds


8.70%GJSDL-20.09.2016 17,894 0.23%

8.74% KA SDL - 22.08.2016 24,779 0.31%

8.80% TN SDL - 25.10.2022 1,154 0.01%

8.90% KA SDL - 19.12.2022 2,857 0.04%

8.90% TN SDL - 20.09.2022 1,265 0.02%

8.94%GJSDL-07.03.2022 14,624 0.18%

8.98% PN SDL - 14.10.2021 6,725 0.08%

8.99% MP SDL - 07.03.2022 1,858 0.02%

9.18% PN SDL 2021 - 09.11.2021 2,908 0.04%

9.19% KA SDL 2021 - 09.11.2021 5,855 0.07%

9.24% MH SDL - 16.01.2024 21,885 0.28%

9.25% KA SDL - 16.01.2024 5,083 0.06%

9.25% MH SDL - 09.10.2023 32,663 0.41%

9.35% MH SDL - 30.01.2024 11,020 0.14%

9.37%GJSDL-04.12.2023 472 0.01%

9.39%GJSDL-20.11.2023 32,947 0.41%

9.47% TN SDL - 26.03.2024 144,583 1.82%

9.50% KA SDL - 18.12.2023 44,340 0.56%

9.50% MAH SDL - 18.12.2023 91,936 1.16%

9.51% MAH SDL - 11.09.2023 22,249 0.28%

9.55% KA SDL - 12.02.2024 33,442 0.42%

9.63% MH SDL - 12.02.2024 91,080 1.15%

9.65% TN SDL - 12.03.2024 11,159 0.14%

9.69% PN SDL - 12.02.2024 111,994 1.41%

9.72% PN SDL - 28.08.2023 8,055 0.10%

9.75%GJSDL-26.02.2024 42,215 0.53%

9.87% PN SDL - 14.08.2023 2,760 0.03%

Total 867,634 10.92%

Others

Electricity,gas,steamandairconditioningsupply 484,915 6.11%

Wholesale trade, except of motor vehicles and motorcycles 86,770 1.09%

Manufacture of basic metals 72,545 0.91%

Civil engineering 16,681 0.21%

Telecommunications 10,044 0.13%



Grand Total 7,942,120 100.00%





Industry Kotak Pension Bond Fund

% of Total Funds


GOVT. of INDIA


6.35% OMC GOI BOND - 23.12.2024 24 0.00%

6.83% GOI - 19.01.39 111 0.01%

6.90% GOI - 13.07.2019 4,054 0.37%

7.16% GOI - 20.05.2023 97,850 8.90%

7.17% GOI - 14.06.2015 906 0.08%

7.38% GOI 2015 - 03.09.2015 745 0.07%

7.50% GOI - 10.08.34 76 0.01%

7.94% GOI - 24.05.21 276 0.03%

7.95% GOI - 28.08.32 57 0.01%

7.95% GOI Fertilizer Bond - 18.02.26 415 0.04%

8.24% GOI - 15.02.27 37,430 3.40%

8.26% GOI - 02.08.27 157 0.01%

8.28% GOI - 21.09.2027 120,197 10.93%

8.30% GOI 2040 ZCG - 02.01.2015 45 0.00%

8.30% GOI 2040 ZCG - 02.07.2014 47 0.00%

8.30% GOI 2040 ZCG - 02.07.2015 43 0.00%

8.79% GOI - 08.11.2021 1,352 0.12%

8.83% GOI - 25.11.2023 182,112 16.56%

9.20% GOI - 30.09.2030 91,139 8.29%

Total 573,774 52.17%


10.00% KMPL - 12.09.2014 2,991 0.27%


10.70% IRFC - 11.09.23 1,080 0.10%



11.05% KMPL - 30.05.2014 3,001 0.27%

11.15%REC-24.10.2018 1,056 0.10%

7.90% IIFCL - 28.04.24 9,785 0.89%

8.20% IRFC - 27.04.2023 1,856 0.17%

8.26% IIFCL - 23.08.28 2,963 0.27%

8.30% PFC - 15.05.2018 P/C 15.05.2015 1,979 0.18%

8.46% IIFCL - 30.08.28 4,063 0.37%

8.48% HDFC - 17.05.2016 977 0.09%

8.55% IRFC - 03.02.2020 1,925 0.18%

8.60% LIC Housing Finance - 20.06.2018 961 0.09%

8.72% NABARD - 19.02.2018 P 19.05.2014 5,992 0.54%







% of Total Funds


8.75%REC-12.07.2025 3,753 0.34%

8.80% SBI Upper Tier II - 05.06.2021 Call 05.06.2016 959 0.09%


8.85% Tata Sons - 02.05.2018 1,926 0.18%

8.89% IDFC - 02.12.20 4,803 0.44%


8.90% PFC - 18.03.2028 948 0.09%

8.94% PFC - 25.03.2028 950 0.09%

8.95% HDFC - 19.10.2020 1,921 0.17%

8.99% Tata Sons - 07.06.2020 1,902 0.17%

9.00% SBH FD - 11.06.2014 9,000 0.82%


9.07%EXIM-11.09.2017 987 0.09%

9.09% IRFC - 31.03.2026 3,903 0.35%


9.15%EXIM-20.07.2015P/C20.01.2015 996 0.09%

9.20% SBT - 31.07.2017 994 0.09%


9.41% NABARD - 16.07.2015 P/C 16.07.2014 999 0.09%

9.43% IRFC - 23.05.18 1,003 0.09%

9.50% SBT FD - 05.07.2014 9,900 0.90%

9.60% HDFC - 07.08.2015 1,994 0.18%

9.70% ANDHRA BANK FD - 07.04.2016 9,100 0.83%

9.75% HDFC 07.12.16 - PC 07.01.13 3,005 0.27%


9.75%REC-11.11.2021. 1,008 0.09%

9.75% Tata Sons - 19.07.2016 998 0.09%

9.78% Tata Sons - 13.01.2019 27,035 2.46%



9.85% Tata Sons - 21.05.2017 1,001 0.09%

9.90% HDFC - 10.06.2021 P - 10.07.12 1,005 0.09%

9.90% Tata Sons - 09.03.2016 2,005 0.18%

9.90% Tata Sons - 20.03.2019 3,013 0.27%




CBLO - 02.04.2014 6,997 0.64%








% of Total Funds


PNB CD - 02.06.2014 7,384 0.68%

Total 274,298 24.94%


7.95% MAH SDL - 03.07.2023 6,312 0.57%

8.54% MAH SDL - 19.01.2021 2,388 0.22%

8.58%GJSDL-23.01.2023 589 0.05%

8.62% MAH SDL - 20.02.2023 1,440 0.13%

8.70%GJSDL-20.09.2016 2,624 0.24%

8.80% TN SDL - 25.10.2022 210 0.02%

8.90% KA SDL - 19.12.2022 425 0.04%

8.90% TN SDL - 20.09.2022 204 0.02%

8.94%GJSDL-07.03.2022 3,836 0.35%

8.98% PN SDL - 14.10.2021 796 0.07%

8.99% MP SDL - 07.03.2022 343 0.03%

9.18% PN SDL 2021 - 09.11.2021 1,141 0.10%

9.19% KA SDL 2021 - 09.11.2021 1,065 0.10%

9.24% MH SDL - 16.01.2024 3,048 0.28%

9.25% MH SDL - 09.10.2023 4,573 0.42%

9.35% MH SDL - 30.01.2024 1,535 0.14%

9.37%GJSDL-04.12.2023 66 0.01%

9.39%GJSDL-20.11.2023 4,613 0.42%

9.47% TN SDL - 26.03.2024 19,906 1.81%

9.50% KA SDL - 18.12.2023 6,202 0.56%

9.50% MAH SDL - 18.12.2023 12,893 1.17%

9.51% MAH SDL - 11.09.2023 3,099 0.28%

9.55% KA SDL - 12.02.2024 4,692 0.43%

9.63% MH SDL - 12.02.2024 12,588 1.14%

9.65% TN SDL - 12.03.2024 1,563 0.14%

9.69% PN SDL - 12.02.2024 15,612 1.42%

9.72% PN SDL - 28.08.2023 1,221 0.11%

9.75%GJSDL-26.02.2024 5,728 0.52%

9.87% PN SDL - 14.08.2023 419 0.04%

Total 119,131 10.83%

Others






Grand Total 1,099,850 100.00%






Industry Kotak Group Bond Fund

% of Total Funds

ULGF-004-15/04/04-BNDFND-107

GOVT. of INDIA


10.79% GOI - 19.05.2015 5,101 0.12%

6.35% OMC GOI BOND - 23.12.2024 93 0.00%

6.83% GOI - 19.01.39 386 0.01%

6.90% GOI - 13.07.2019 14,997 0.34%

7.16% GOI - 20.05.2023 374,661 8.59%

7.17% GOI - 14.06.2015 3,436 0.08%

7.38% GOI 2015 - 03.09.2015 2,840 0.07%

7.50% GOI - 10.08.34 294 0.01%

7.94% GOI - 24.05.21 1,202 0.03%

7.95% GOI - 28.08.32 223 0.01%


8.24% GOI - 15.02.27 144,982 3.33%

8.26% GOI - 02.08.27 608 0.01%

8.28% GOI - 21.09.2027 459,838 10.55%

8.30% GOI 2040 ZCG - 02.01.2015 134 0.00%

8.30% GOI 2040 ZCG - 02.07.2014 140 0.00%

8.30% GOI 2040 ZCG - 02.07.2015 129 0.00%

8.79% GOI - 08.11.2021 5,137 0.12%

8.83% GOI - 25.11.2023 699,860 16.05%

9.20% GOI - 30.09.2030 350,161 8.03%

Total 2,202,130 50.52%


10.00% KMPL - 12.09.2014 9,969 0.23%



10.70% IRFC - 11.09.23 5,402 0.12%



11.05% KMPL - 30.05.2014 10,003 0.23%

11.15%REC-24.10.2018 6,335 0.15%

7.90% IIFCL - 28.04.24 35,581 0.82%

8.20% IRFC - 27.04.2023 6,498 0.15%

8.20% IRFC - 27.04.2024 925 0.02%

8.26% IIFCL - 23.08.28 9,878 0.23%

8.30% PFC - 15.05.2018 P/C 15.05.2015 5,936 0.14%

8.46% IIFCL - 30.08.28 15,235 0.35%






% of Total Funds

ULGF-004-15/04/04-BNDFND-107

8.48% HDFC - 17.05.2016 1,954 0.04%

8.55% IRFC - 03.02.2020 5,775 0.13%


8.75%REC-12.07.2025 6,568 0.15%

8.80%REC-17.11.2019 965 0.02%

8.80% SBI Upper Tier II - 05.06.2021 Call 05.06.2016 3,837 0.09%


8.82%REC-12.04.2023 1,906 0.04%

8.83%EXIM-09.01.2023 954 0.02%

8.84%REC-16.10.2014 2,991 0.07%

8.85% Tata Sons - 02.05.2018 5,777 0.13%

8.89% IDFC - 02.12.20 18,252 0.42%


8.90% PFC - 18.03.2028 2,844 0.07%

8.94% PFC - 25.03.2028 3,801 0.09%

8.95% HDFC - 19.10.2020 8,645 0.20%

8.99% Tata Sons - 07.06.2020 5,705 0.13%

9.00% SBH FD - 11.06.2014 18,000 0.41%


9.07%EXIM-11.09.2017 2,961 0.07%

9.09% IRFC - 31.03.2026 13,660 0.31%


9.14%EXIM-01.08.2022 1,962 0.05%

9.15%EXIM-20.07.2015P/C20.01.2015 5,977 0.14%

9.18% HDFC - 12.02.2018 5,881 0.13%

9.20% SBT - 31.07.2017 3,975 0.09%


9.25% IDFC - 13.09.19 6,927 0.16%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 5,994 0.14%

9.43% IRFC - 23.05.18 5,017 0.12%

9.50% SBT FD - 05.07.2014 9,900 0.23%

9.50% SBT FD - 09.07.2014 19,800 0.45%

9.50% SBT FD - 15.07.2014 9,900 0.23%

9.60% HDFC - 07.08.2015 8,975 0.21%

9.64% PFC - 15.12.2016 2,999 0.07%

9.70% ANDHRA BANK FD - 07.04.2016 39,250 0.90%

9.75% HDFC 07.12.16 - PC 07.01.13 11,017 0.25%








% of Total Funds

ULGF-004-15/04/04-BNDFND-107

9.75%REC-11.11.2021. 3,025 0.07%

9.75% Tata Sons - 19.07.2016 3,993 0.09%

9.78% Tata Sons - 13.01.2019 102,131 2.34%


9.8265% IDFC 2017 P/C 23.08.13 5,992 0.14%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 1,011 0.02%


9.85% Tata Sons - 21.05.2017 5,004 0.11%

9.90% HDFC - 10.06.2021 P - 10.07.12 2,010 0.05%

9.90% Tata Sons - 09.03.2016 6,014 0.14%

9.90% Tata Sons - 20.03.2019 13,054 0.30%




Canara Bank CD - 01.12.2014 20,718 0.48%

CBLO - 02.04.2014 20,492 0.47%




PNB CD - 02.06.2014 63,991 1.43%

Total 1,085,795 24.91%


7.95% MAH SDL - 03.07.2023 23,805 0.55%

8.54% MAH SDL - 19.01.2021 8,312 0.19%

8.58%GJSDL-23.01.2023 2,267 0.05%

8.62% MAH SDL - 20.02.2023 5,528 0.13%

8.70%GJSDL-20.09.2016 9,739 0.22%

8.74% KA SDL - 22.08.2016 1,388 0.03%

8.80% TN SDL - 25.10.2022 744 0.02%

8.90% KA SDL - 19.12.2022 1,751 0.04%

8.90% TN SDL - 20.09.2022 764 0.02%

8.94%GJSDL-07.03.2022 10,098 0.23%

8.98% PN SDL - 14.10.2021 3,410 0.08%

8.99% MP SDL - 07.03.2022 1,246 0.03%

9.18% PN SDL 2021 - 09.11.2021 2,446 0.06%

9.19% KA SDL 2021 - 09.11.2021 4,981 0.11%

9.24% MH SDL - 16.01.2024 11,434 0.26%

9.25% MH SDL - 09.10.2023 17,387 0.40%






% of Total Funds

ULGF-004-15/04/04-BNDFND-107

9.35% MH SDL - 30.01.2024 5,757 0.13%

9.37%GJSDL-04.12.2023 246 0.01%

9.39%GJSDL-20.11.2023 17,539 0.40%

9.47% TN SDL - 26.03.2024 76,986 1.77%

9.50% KA SDL - 18.12.2023 23,287 0.53%

9.50% MAH SDL - 18.12.2023 48,707 1.12%

9.51% MAH SDL - 11.09.2023 11,625 0.27%

9.55% KA SDL - 12.02.2024 17,549 0.40%

9.63% MH SDL - 12.02.2024 48,367 1.11%

9.65% TN SDL - 12.03.2024 5,940 0.14%

9.69% PN SDL - 12.02.2024 59,185 1.36%

9.72% PN SDL - 28.08.2023 4,656 0.11%

9.75%GJSDL-26.02.2024 22,397 0.51%

9.87% PN SDL - 14.08.2023 1,558 0.02%

Total 449,099 10.30%

Others








Grand Total 4,359,290 100.00%


Industry Kotak Group Secure Capital Fund

% of Total Funds


GOVT. of INDIA


6.35% OMC GOI BOND - 23.12.2024 2 0.00%

6.83% GOI - 19.01.39 9 0.01%

6.90% GOI - 13.07.2019 243 0.35%

7.16% GOI - 20.05.2023 6,109 8.83%

7.17% GOI - 14.06.2015 54 0.08%

7.38% GOI 2015 - 03.09.2015 49 0.07%

7.50% GOI - 10.08.34 6 0.01%







% of Total Funds


7.94% GOI - 24.05.21 25 0.04%

7.95% GOI - 28.08.32 4 0.01%


8.24% GOI - 15.02.27 2,359 3.41%

8.26% GOI - 02.08.27 13 0.02%

8.28% GOI - 21.09.2027 7,477 10.81%

8.30% GOI 2040 ZCG - 02.01.2015 3 0.00%

8.30% GOI 2040 ZCG - 02.07.2014 3 0.00%

8.30% GOI 2040 ZCG - 02.07.2015 3 0.00%

8.79% GOI - 08.11.2021 106 0.15%

8.83% GOI - 25.11.2023 11,349 16.40%

9.20% GOI - 30.09.2030 5,678 8.21%

Total 35,779 51.71%



10.75% Magma Fincorp Ltd-07.08.2014 998 1.44%

10.75% Shriram Transport Finance Co Ltd 24.10.2016 447 0.65%

11.25% HDFC - 04.09.2018 1,058 1.53%

8.45%REC-19.02.2015 993 1.44%

8.72% NABARD - 19.02.2018 P 19.05.2014 1,997 2.89%


8.89% IDFC - 02.12.20 961 1.39%

9.25% IDFC - 13.09.19 990 1.43%

9.70% ANDHRA BANK FD - 07.04.2016 450 0.65%

9.78% Tata Sons - 13.01.2019 1,001 1.45%




CBLO - 02.04.2014 1,499 2.17%


PNB CD - 02.06.2014 886 1.26%

Total 17,660 25.53%


7.95% MAH SDL - 03.07.2023 379 0.55%

8.31%GJSDL-03.02.2020 207 0.30%

8.54% MAH SDL - 19.01.2021 210 0.30%

8.58%GJSDL-23.01.2023 47 0.07%

8.62% MAH SDL - 20.02.2023 114 0.16%






% of Total Funds


8.65% KA SDL - 20.03.2023 67 0.10%

8.70%GJSDL-20.09.2016 151 0.22%

8.80% TN SDL - 25.10.2022 18 0.03%

8.90% KA SDL - 19.12.2022 26 0.04%

8.90% TN SDL - 20.09.2022 16 0.02%

8.94%GJSDL-07.03.2022 144 0.21%

8.98% PN SDL - 14.10.2021 68 0.10%

8.99% MP SDL - 07.03.2022 21 0.03%

9.18% PN SDL 2021 - 09.11.2021 69 0.10%

9.19% KA SDL 2021 - 09.11.2021 90 0.13%

9.24% MH SDL - 16.01.2024 191 0.28%

9.25% KA SDL - 16.01.2024 131 0.19%

9.25% MH SDL - 09.10.2023 286 0.41%

9.35% MH SDL - 30.01.2024 96 0.14%

9.37%GJSDL-04.12.2023 4 0.01%

9.39%GJSDL-20.11.2023 288 0.42%

9.47% TN SDL - 26.03.2024 1,243 1.80%

9.50% KA SDL - 18.12.2023 387 0.56%

9.50% MAH SDL - 18.12.2023 805 1.16%

9.51% MAH SDL - 11.09.2023 194 0.28%

9.55% KA SDL - 12.02.2024 294 0.42%

9.63% MH SDL - 12.02.2024 792 1.14%

9.65% TN SDL - 12.03.2024 97 0.14%

9.69% PN SDL - 12.02.2024 979 1.41%

9.72% PN SDL - 28.08.2023 71 0.10%

9.75%GJSDL-26.02.2024 358 0.52%

9.87% PN SDL - 14.08.2023 23 0.03%

Total 7,866 11.37%

Others



Manufacture of basic metals 487 0.70%


Grand Total 69,186 100.00%






Industry Kotak Dynamic Floating Rate Fund

% of Total Funds




Bank of Baroda CD - 22.01.2015 9,122 2.18%

CBLO - 02.04.2014 1,499 0.36%

EXIMFloaterINCMTBMK+100bps-09.08.2016 27,316 6.53%


L&TFinanceLtdNSEMibor+1.55%-28.10.2016 37,819 9.04%



PNB CD - 02.06.2014 22,151 5.29%



Vijaya Bank CD - 03.06.2014 10,553 2.53%

Total 217,732 52.03%

Wholesale trade, except of motor vehicles and motorcycles

9.95% FCI - 07.03.22 85,788 20.50%

Total 85,788 20.50%

GOVT. of INDIA

6.90% GOI - 13.07.2019 9,143 2.18%

7.38% GOI 2015 - 03.09.2015 688 0.16%

8.19% GOI - 16.01.2020 25,368 6.06%

8.33% GOI - 09.07.2026 6,075 1.45%

GOI FRB - 21.12.2020 29,642 7.09%

Total 70,916 16.94%

Others


State Development Loan 13,817 3.30%


Grand Total 418,510 100.00%


Industry Kotak Pension Floating Rate Fund

% of Total Funds




Bank of Baroda CD - 22.01.2015 1,396 2.48%






Industry Kotak Pension Floating Rate Fund

% of Total Funds






PNB CD - 02.06.2014 1,969 3.49%


Vijaya Bank CD - 03.06.2014 1,577 2.78%

Total 29,210 51.79%


9.95% FCI - 07.03.22 12,111 21.47%

Total 12,111 21.47%

GOVT. of INDIA

6.90% GOI - 13.07.2019 1,371 2.43%

8.19% GOI - 16.01.2020 2,805 4.97%

8.33% GOI - 09.07.2026 846 1.50%

GOI FRB - 21.12.2020 3,700 6.57%

Total 8,722 15.47%

Others




Grand Total 56,398 100.00%


Industry Kotak Group Floating Rate Fund

% of Total Funds

ULGF-005-07/12/04-FLTRFND-107



Bank of Baroda CD - 22.01.2015 6,050 1.80%

Bank of India CD - 13.03.15 14,723 4.38%

CBLO - 02.04.2014 5,998 1.79%







PNB CD - 02.06.2014 24,612 7.33%






Industry Kotak Group Floating Rate Fund

% of Total Funds

ULGF-005-07/12/04-FLTRFND-107


Vijaya Bank CD - 03.06.2014 2,960 0.90%

Total 193,833 57.73%


9.95% FCI - 07.03.22 66,612 19.84%

Total 66,612 19.84%

GOVT. of INDIA

6.90% GOI - 13.07.2019 28,527 8.50%

8.19% GOI - 16.01.2020 10,287 3.06%

8.33% GOI - 09.07.2026 2,456 0.73%

GOI FRB - 21.12.2020 14,558 4.34%

Total 55,828 16.63%

Others




Grand Total 335,781 100.00%


Industry Kotak Group 57M FMP 07/04/2016

% of Total Funds

ULGF-017-14/07/11-57FM070416-107


9.17% IDBI FD - 07.04.2016 10,100 4.13%

9.25% IOB FD - 07.04.2016 19,900 8.14%

9.25% OBC FD - 07.04.2016 9,900 4.05%

9.25% OBC FD1 - 07.04.2016 9,628 3.94%

9.25%SBBJFD-07.04.2016 9,900 4.05%

9.25% SBH FD - 07.04.2016 20,000 8.18%

9.50%SYNDICATEBANKFD-07.04.2016 20,500 8.38%

9.60% HDFC - 07.04.2016 19,939 8.15%

9.62% PFC - 29.06.2016 17,059 6.98%

9.70% ANDHRA BANK FD - 07.04.2016 20,600 8.42%


9.75% Tata Sons - 21.04.2016 19,877 8.12%

Total 189,378 77.44%

Others



Grand Total 244,556 100.00%





Industry Kotak Dynamic Balanced Fund

% of Total Funds



Bank of Baroda 538 0.31%


10.05% Tata Sons - 16.06.2014 1,000 0.58%


7.90% IIFCL - 28.04.24 890 0.52%

8.72% NABARD - 19.02.2018 P 19.05.2014 999 0.58%

8.80% Sundaram Finance - 03.06.16 978 0.57%

8.91% PFC - 15.10.2017 985 0.57%

9%HDFCBankFDNSE-05.08.2014 158 0.09%

9.00%HDFCBankFDBSE-24.07.2014 75 0.04%

9.00%HDFCBankFDNSE-24.07.2014 162 0.09%

9.09% IRFC - 29.03.2026 980 0.57%

9.78% Tata Sons - 13.01.2019 1,001 0.58%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 1,011 0.59%

Axis Bank Ltd 2,855 1.66%

Bank of Baroda CD - 11.07.2014 682 0.40%

CBLO - 02.04.2014 1,999 1.16%


HDFC Bank Ltd 6,309 3.66%


Housing Development Finance Corp. Ltd 4,662 2.70%

ICICI Bank Ltd 6,068 3.52%

IndusInd Bank Limited 2,172 1.26%

Infrastructure Development Finance Company Ltd 653 0.38%

LIC Housing Finance Ltd INBMK+120BPS -29.07.16 988 0.57%


PNB CD - 02.06.2014 3,938 2.28%

Shriram Transport Finance Co. Ltd 725 0.42%

State Bank of India 991 0.57%

State Bank of Patiala CD - 01.12.2014 943 0.55%

YESBANKLTD 525 0.30%

Total 47,712 27.67%

GOVT. of INDIA


6.35% OMC GOI BOND - 23.12.2024 2 0.00%

6.83% GOI - 19.01.39 9 0.01%

6.90% GOI - 13.07.2019 280 0.16%

7.16% GOI - 20.05.2023 6,619 3.84%

7.17% GOI - 14.06.2015 63 0.04%






Industry Kotak Dynamic Balanced Fund

% of Total Funds


7.38% GOI 2015 - 03.09.2015 50 0.03%

7.50% GOI - 10.08.34 5 0.00%

7.94% GOI - 24.05.21 36 0.02%

7.95% GOI - 28.08.32 4 0.00%


8.24% GOI - 15.02.27 2,328 1.35%

8.26% GOI - 02.08.27 12 0.01%

8.28% GOI - 21.09.2027 7,557 4.38%

8.30% GOI 2040 ZCG - 02.01.2015 18 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 19 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 17 0.01%

8.79% GOI - 08.11.2021 93 0.05%

8.83% GOI - 25.11.2023 12,461 7.23%

9.20% GOI - 30.09.2030 4,392 2.54%

Total 36,523 21.18%

Others

Computer programming, consultancy and related activities 15,088 8.75%




Manufacture of motor vehicles, trailers and semi-trailers 6,705 3.89%

Mfg of pharmaceuticals, medicinal chemical & botanical products 6,698 3.88%

Manufacture of tobacco products 6,296 3.65%


Manufacture of other non-metallic mineral products 3,735 2.17%

Extractionofcrudepetroleumandnaturalgas 3,413 1.98%


Manufacture of beverages 1,657 0.96%

Manufacture of other transport equipment 1,395 0.81%

Information service activities 1,227 0.71%

Manufacture of chemicals and chemical products 1,204 0.70%

Water transport 1,066 0.62%


Manufacture of leather and related products 1,024 0.59%


Manufacture of machinery and equipment n.e.c. 866 0.50%

Manufacture of food products 858 0.50%

Other manufacturing 800 0.46%


Grand Total 172,429 100.00%





Industry Kotak Guaranteed Balanced Fund

% of Total Funds


GOVT. of INDIA


6.01% GOI - 25.03.2028 2,021 0.18%

6.35% OMC GOI BOND - 23.12.2024 17 0.00%

6.83% GOI - 19.01.39 87 0.01%

6.90% GOI - 13.07.2019 2,765 0.24%

7.16% GOI - 20.05.2023 65,669 5.73%

7.17% GOI - 14.06.2015 630 0.06%

7.38% GOI 2015 - 03.09.2015 514 0.04%

7.50% GOI - 10.08.34 50 0.00%

7.94% GOI - 24.05.21 2,800 0.24%

7.95% GOI - 28.08.32 39 0.00%


8.24% GOI - 15.02.27 25,327 2.21%

8.26% GOI - 02.08.27 115 0.01%

8.28% GOI - 21.09.2027 80,479 7.03%

8.30% GOI 2040 ZCG - 02.01.2015 114 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 118 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 109 0.01%

8.79% GOI - 08.11.2021 937 0.08%

8.83% GOI - 25.11.2023 135,596 11.84%

9.20% GOI - 30.09.2030 47,872 4.19%

Total 390,435 34.09%


Bank of Baroda 2,482 0.22%

10.00% KMPL - 12.09.2014 1,994 0.17%


10.05% Tata Sons - 16.06.2014 4,001 0.35%

10.70% IRFC - 11.09.23 1,080 0.09%


11.05% KMPL - 30.05.2014 2,001 0.17%

7.90% IIFCL - 28.04.24 4,448 0.39%

8.00%REC-05.08.2014 994 0.09%

8.20% IRFC - 27.04.2023 928 0.08%

8.26% IIFCL - 23.08.28 1,976 0.17%

8.30% PFC - 15.05.2018 P/C 15.05.2015 989 0.09%

8.46% IIFCL - 30.08.28 3,047 0.27%

8.55% IRFC - 03.02.2020 963 0.08%

8.72% NABARD - 19.02.2018 P 19.05.2014 9,987 0.87%

8.75%REC-12.07.2025 938 0.08%


8.85% Tata Sons - 02.05.2018 963 0.08%







% of Total Funds


8.89% IDFC - 02.12.20 3,842 0.34%


8.90% PFC - 18.03.2028 948 0.08%

8.94% PFC - 25.03.2028 950 0.08%

8.99% Tata Sons - 07.06.2020 951 0.08%

9%HDFCBankFDNSE-05.08.2014 616 0.05%

9.00%HDFCBankFDBSE-24.07.2014 290 0.03%

9.00%HDFCBankFDNSE-24.07.2014 629 0.05%


9.07%EXIM-11.09.2017 987 0.09%

9.09% IRFC - 31.03.2026 1,951 0.17%


9.15%EXIM-20.07.2015P/C20.01.2015 996 0.09%

9.20% SBT - 31.07.2017 994 0.09%

9.35% IIFCL - 17.11.23 998 0.09%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 999 0.09%

9.43% IRFC - 23.05.18 1,003 0.09%

9.50% SBT FD - 09.07.2014 9,900 0.86%

9.50% SBT FD - 15.07.2014 9,900 0.86%

9.60% HDFC - 07.08.2015 997 0.09%

9.75% HDFC - 10.01.2017 1,003 0.09%


9.75%REC-11.11.2021. 1,008 0.09%

9.78% Tata Sons - 13.01.2019 18,023 1.57%


9.8265% IDFC 2017 P/C 23.08.13 3,995 0.35%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 3,034 0.26%


9.85% Tata Sons - 21.05.2017 1,001 0.09%

9.90% Tata Sons - 09.03.2016 1,002 0.09%

9.90% Tata Sons - 20.03.2019 2,008 0.18%


Andhra Bank CD - 17.09.2014 6,021 0.53%



Bank of Baroda CD - 11.07.2014 7,213 0.63%

CBLO - 02.04.2014 7,997 0.70%





HDFC Ltd CP - 02.12.14 13,151 1.15%






% of Total Funds






Infrastructure Development Finance Company Ltd 2,560 0.22%




PNB CD - 02.06.2014 24,612 2.15%

RECLtdCP-31.07.14 3,882 0.34%

Shriram Transport Finance Co. Ltd 2,616 0.23%

State Bank of India 3,264 0.28%


YESBANKLTD 2,497 0.22%

Total 330,849 28.89%

Others


















Manufacture of machinery and equipment n.e.c. 3,525 0.31%



Manufacture of food products 3,090 0.27%

Other manufacturing 3,043 0.27%


Grand Total 1,145,396 100.00%






Industry Kotak Pension Balanced Fund

% of Total Funds


GOVT. of INDIA


6.35% OMC GOI BOND - 23.12.2024 37 0.00%

6.83% GOI - 19.01.39 203 0.01%

6.90% GOI - 13.07.2019 5,828 0.25%


7.02% GOI - 17.08.2016 955 0.04%

7.16% GOI - 20.05.2023 133,676 5.73%

7.17% GOI - 14.06.2015 1,355 0.06%

7.38% GOI 2015 - 03.09.2015 1,115 0.05%

7.50% GOI - 10.08.34 111 0.00%

7.94% GOI - 24.05.21 8,535 0.37%

7.95% GOI - 28.08.32 87 0.00%


8.20% OMC GOI Special Bond - 12.02.24 1,050 0.05%

8.24% GOI - 15.02.27 51,510 2.21%

8.26% GOI - 02.08.27 258 0.01%

8.28% GOI - 21.09.2027 163,681 7.02%

8.30% GOI 2040 ZCG - 02.01.2015 418 0.02%

8.30% GOI 2040 ZCG - 02.07.2014 435 0.02%

8.30% GOI 2040 ZCG - 02.07.2015 401 0.02%

8.79% GOI - 08.11.2021 2,051 0.09%

8.83% GOI - 25.11.2023 275,566 11.82%

9.20% GOI - 30.09.2030 97,285 4.17%

Total 796,447 34.16%



10.00% KMPL - 12.09.2014 3,988 0.17%


10.05% Tata Sons - 16.06.2014 9,003 0.39%

10.70% IRFC - 11.09.23 2,161 0.09%


11.05% KMPL - 30.05.2014 4,001 0.17%

7.90% IIFCL - 28.04.24 9,785 0.42%

8.20% IRFC - 27.04.2023 2,785 0.12%

8.20% IRFC - 27.04.2024 925 0.04%

8.26% IIFCL - 23.08.28 3,951 0.17%

8.30% PFC - 15.05.2018 P/C 15.05.2015 1,979 0.08%






% of Total Funds


8.38% HDFC - 20.05.2018 950 0.04%

8.46% IIFCL - 30.08.28 6,094 0.26%

8.55% IRFC - 03.02.2020 2,888 0.12%

8.72% NABARD - 19.02.2018 P 19.05.2014 20,973 0.90%

8.75%REC-12.07.2025 1,877 0.08%


8.83%EXIM-09.01.2023 954 0.04%

8.85% Tata Sons - 02.05.2018 1,926 0.08%

8.89% IDFC - 02.12.20 7,685 0.33%


8.90% PFC - 18.03.2028 948 0.04%

8.94% PFC - 25.03.2028 950 0.04%

8.99% Tata Sons - 07.06.2020 1,902 0.08%

9%HDFCBankFDNSE-05.08.2014 2,110 0.09%

9.00%HDFCBankFDBSE-24.07.2014 991 0.04%

9.00%HDFCBankFDNSE-24.07.2014 2,147 0.09%

9.00% SBH FD - 11.06.2014 9,000 0.39%

9.07%EXIM-11.09.2017 987 0.04%

9.09% IRFC - 29.03.2026 1,960 0.08%


9.15%EXIM-20.07.2015P/C20.01.2015 1,992 0.09%

9.20% SBT - 31.07.2017 1,988 0.09%


9.35% IIFCL - 17.11.23 1,997 0.09%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 1,998 0.09%

9.43% IRFC - 23.05.18 2,007 0.09%

9.50% SBT FD - 09.07.2014 29,700 1.27%

9.50% SBT FD - 15.07.2014 29,700 1.27%

9.60% HDFC - 07.08.2015 1,994 0.09%

9.75% HDFC - 10.01.2017 2,006 0.09%


9.75%REC-11.11.2021. 1,008 0.04%

9.78% Tata Sons - 13.01.2019 37,048 1.59%


9.8265% IDFC 2017 P/C 23.08.13 4,994 0.21%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 5,056 0.22%


9.85% Tata Sons - 21.05.2017 2,001 0.09%







% of Total Funds


9.90% HDFC - 10.06.2021 P - 10.07.12 1,005 0.04%

9.90% Tata Sons - 09.03.2016 2,005 0.09%

9.90% Tata Sons - 20.03.2019 4,017 0.17%


Andhra Bank CD - 17.09.2014 12,137 0.52%



Bank of Baroda CD - 11.07.2014 14,523 0.62%

CBLO - 02.04.2014 5,498 0.24%





HDFC Ltd CP - 02.12.14 28,180 1.21%









PNB CD - 02.06.2014 29,535 1.27%

RECLtdCP-31.07.14 2,426 0.10%




Sundaram Fin CP - 18.09.14 3,813 0.16%


Total 651,142 27.92%

Others













% of Total Funds


















Grand Total 2,331,793 100.00%


Industry Kotak Group Balanced Fund

% of Total Funds

ULGF-003-27/06/03-BALFND-107



10.00% KMPL - 12.09.2014 1,994 0.09%


10.05% Tata Sons - 16.06.2014 4,001 0.19%

10.70% IRFC - 11.09.23 1,080 0.05%


11.05% KMPL - 30.05.2014 2,001 0.09%

7.90% IIFCL - 28.04.24 7,116 0.34%

8.20% IRFC - 27.04.2023 928 0.04%

8.26% IIFCL - 23.08.28 1,976 0.09%

8.30% PFC - 15.05.2018 P/C 15.05.2015 989 0.05%

8.46% IIFCL - 30.08.28 3,047 0.14%

8.55% IRFC - 03.02.2020 963 0.05%

8.72% NABARD - 19.02.2018 P 19.05.2014 9,987 0.47%

8.75%REC-12.07.2025 938 0.04%








% of Total Funds

ULGF-003-27/06/03-BALFND-107

8.82%REC-12.04.2023 953 0.05%

8.85% Tata Sons - 02.05.2018 963 0.05%

8.89% IDFC - 02.12.20 2,882 0.14%


8.90% PFC - 18.03.2028 948 0.04%

8.91% PFC - 15.10.2017 6,896 0.33%

8.94% PFC - 25.03.2028 950 0.04%

8.99% Tata Sons - 07.06.2020 951 0.04%

9%HDFCBankFDNSE-05.08.2014 937 0.04%

9.00%HDFCBankFDBSE-24.07.2014 439 0.02%

9.00%HDFCBankFDNSE-24.07.2014 950 0.04%

9.00% SBH FD - 11.06.2014 9,000 0.43%

9.07%EXIM-11.09.2017 987 0.05%

9.09% IRFC - 29.03.2026 6,860 0.32%

9.09% IRFC - 31.03.2026 1,951 0.09%


9.15%EXIM-20.07.2015P/C20.01.2015 996 0.05%

9.20% SBT - 31.07.2017 994 0.05%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 999 0.05%

9.43% IRFC - 23.05.18 1,003 0.05%

9.60% HDFC - 07.08.2015 997 0.05%

9.75% HDFC - 10.01.2017 1,003 0.05%


9.75%REC-11.11.2021. 1,008 0.05%

9.78% Tata Sons - 13.01.2019 11,014 0.52%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 9,101 0.43%


9.85% Tata Sons - 21.05.2017 1,001 0.05%

9.90% Tata Sons - 09.03.2016 1,002 0.05%

9.90% Tata Sons - 20.03.2019 2,008 0.09%




Bank of Baroda CD - 11.07.2014 7,700 0.36%

CBLO - 02.04.2014 16,994 0.80%











% of Total Funds

ULGF-003-27/06/03-BALFND-107






PNB CD - 02.06.2014 49,225 2.33%

RECLtdCP-31.07.14 970 0.05%





Total 573,647 27.13%

GOVT. of INDIA


6.35% OMC GOI BOND - 23.12.2024 16 0.00%

6.83% GOI - 19.01.39 76 0.00%

6.90% GOI - 13.07.2019 2,772 0.13%

7.16% GOI - 20.05.2023 70,263 3.32%

7.17% GOI - 14.06.2015 616 0.03%

7.38% GOI 2015 - 03.09.2015 485 0.02%

7.50% GOI - 10.08.34 50 0.00%

7.94% GOI - 24.05.21 238 0.01%

7.95% GOI - 28.08.32 41 0.00%


8.20% OMC GOI Special Bond - 12.02.24 180 0.01%

8.24% GOI - 15.02.27 27,297 1.29%

8.26% GOI - 02.08.27 117 0.01%

8.28% GOI - 21.09.2027 86,240 4.08%

8.30% GOI 2040 ZCG - 02.01.2015 99 0.00%

8.30% GOI 2040 ZCG - 02.07.2014 103 0.00%

8.30% GOI 2040 ZCG - 02.07.2015 95 0.00%

8.79% GOI - 08.11.2021 890 0.04%

8.83% GOI - 25.11.2023 145,658 6.89%

9.20% GOI - 30.09.2030 51,424 2.46%

Total 412,150 19.49%

Others












% of Total Funds

ULGF-003-27/06/03-BALFND-107



















Grand Total 2,114,364 100.00%


Industry Balanced Fund % of Total Funds

ULIF-037-21/12/09-BALKFND-107





7.90% IIFCL - 28.04.24 890 0.46%

8.45%REC-19.02.2015 993 0.51%

8.72% NABARD - 19.02.2018 P 19.05.2014 999 0.52%


8.84%REC-16.10.2014 997 0.51%

9%HDFCBankFDNSE-05.08.2014 1 0.00%

9.00%HDFCBankFDBSE-24.07.2014 1 0.00%

9.00%HDFCBankFDNSE-24.07.2014 1 0.00%

9.1150% LIC Housing Finance - 11.02.18 - P - 11.09.14 996 0.51%

9.40%REC-20.07.2017 996 0.51%

9.62% PFC - 29.06.2016 1,003 0.52%

9.78% Tata Sons - 13.01.2019 1,001 0.52%







ULIF-037-21/12/09-BALKFND-107


Bank of Baroda CD - 11.07.2014 682 0.35%

CBLO - 02.04.2014 6,997 3.61%









PNB CD - 02.06.2014 4,922 2.54%





Total 56,059 28.93%

GOVT. of INDIA


10.25% GOI - 30.05.21 14 0.01%

6.01% GOI - 25.03.2028 122 0.06%

6.35% OMC GOI BOND - 23.12.2024 1 0.00%

6.83% GOI - 19.01.39 5 0.00%

6.90% GOI - 13.07.2019 198 0.10%

7.16% GOI - 20.05.2023 6,013 3.10%

7.17% GOI - 14.06.2015 41 0.02%

7.38% GOI 2015 - 03.09.2015 32 0.02%

7.46% GOI - 28.08.17 3 0.00%

7.50% GOI - 10.08.34 3 0.00%

7.94% GOI - 24.05.21 15 0.01%

7.95% GOI - 28.08.32 3 0.00%


8.24% GOI - 15.02.27 2,366 1.22%

8.26% GOI - 02.08.27 7 0.00%

8.28% GOI - 21.09.2027 7,423 3.83%

8.30% GOI 2040 ZCG - 02.01.2015 2 0.00%

8.30% GOI 2040 ZCG - 02.07.2014 2 0.00%

8.30% GOI 2040 ZCG - 02.07.2015 2 0.00%

8.79% GOI - 08.11.2021 58 0.03%

8.83% GOI - 25.11.2023 12,582 6.49%

9.20% GOI - 30.09.2030 4,439 2.31%

Total 35,333 18.23%







ULIF-037-21/12/09-BALKFND-107

Others


















Manufacture of leather and related products 950 0.49%






Grand Total 193,778 100.00%


Industry Pension Balanced Fund II

% of Total Funds

ULIF-046-24/01/10-PNBALFND2-107




9%HDFCBankFDNSE-05.08.2014 4 0.01%

9.00%HDFCBankFDBSE-24.07.2014 2 0.00%

9.00%HDFCBankFDNSE-24.07.2014 4 0.01%

Axis Bank Ltd 797 1.65%


Bank of Baroda CD - 11.07.2014 195 0.40%

CBLO - 02.04.2014 1,000 2.07%







% of Total Funds

ULIF-046-24/01/10-PNBALFND2-107




IndusInd Bank Limited 629 1.30%


PNB CD - 02.06.2014 984 2.04%





Total 10,562 21.91%

GOVT. of INDIA

1.44%INFLATIONINDEXGS2023 609 1.26%

6.01% GOI - 25.03.2028 69 0.14%

6.35% OMC GOI BOND - 23.12.2024 1 0.00%

6.83% GOI - 19.01.39 3 0.01%

6.90% GOI - 13.07.2019 74 0.15%

7.16% GOI - 20.05.2023 1,707 3.54%

7.17% GOI - 14.06.2015 17 0.03%

7.38% GOI 2015 - 03.09.2015 14 0.03%

7.50% GOI - 10.08.34 2 0.00%

7.94% GOI - 24.05.21 12 0.03%

7.95% GOI - 28.08.32 2 0.00%


8.24% GOI - 15.02.27 653 1.35%

8.26% GOI - 02.08.27 4 0.01%

8.28% GOI - 21.09.2027 2,069 4.29%

8.30% GOI 2040 ZCG - 02.01.2015 3 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 3 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 3 0.01%

8.79% GOI - 08.11.2021 26 0.05%

8.83% GOI - 25.11.2023 3,484 7.23%

9.20% GOI - 30.09.2030 1,230 2.56%

Total 9,993 20.73%

Others












% of Total Funds

ULIF-046-24/01/10-PNBALFND2-107






Extractionofcrudepetroleumandnaturalgas 885 1.84%

Telecommunications 531 1.10%

Manufacture of beverages 498 1.03%

Manufacture of chemicals and chemical products 369 0.77%

Manufacture of other transport equipment 367 0.76%

Information service activities 358 0.74%

Water transport 314 0.65%







Grand Total 48,201 100.00%


Industry Kotak Dynamic Growth Fund

% of Total Funds




10.70% IRFC - 11.09.23 1,080 0.19%

11.15%REC-24.10.2018 10,558 1.87%

8.45%REC-19.02.2015 993 0.18%

8.80% PFC - 15.01.2025 948 0.17%

8.80%REC-29.11.2020 960 0.17%

9%HDFCBankFDNSE-05.08.2014 743 0.13%

9.00%HDFCBankFDBSE-24.07.2014 356 0.06%

9.00%HDFCBankFDNSE-24.07.2014 772 0.14%

9.02%REC-19.11.2022 1,930 0.34%

9.09% IRFC - 31.03.2026 1,951 0.35%

9.57% IRFC - 31.05.2021 1,004 0.18%

9.64% PFC - 15.12.2016 2,000 0.35%

9.70% PFC - 15.12.2018 4,015 0.71%






% of Total Funds


9.75%REC-11.11.2021. 4,034 0.71%

9.8265% IDFC 2017 P/C 23.08.13 4,994 0.88%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 5,056 0.90%


CBLO - 02.04.2014 7,997 1.42%











Total 171,817 30.44%

Computer programming, consultancy and related activities

HCL Technologies Ltd 5,801 1.03%

Infosys Ltd 27,178 4.81%

Tata Consultancy Services Ltd 26,150 4.63%

Tech Mahindra Ltd 3,469 0.61%

Wipro Ltd 4,981 0.89%

Total 67,579 11.97%

Others

GOVT. of INDIA 55,756 9.88%



















% of Total Funds












Grand Total 564,496 100.00%


Industry Kotak Guaranteed Growth Fund

% of Total Funds


GOVT. of INDIA


10.25% GOI - 30.05.21 3,644 0.03%

12.30% GOI - 02.07.2016 5,373 0.04%

6.01% GOI - 25.03.2028 1,967 0.02%

6.05% GOI 2019 - 02.02.19 57 0.00%

6.35% OMC GOI BOND - 23.12.2024 158 0.00%

6.83% GOI - 19.01.39 1,015 0.01%

6.90% GOI - 13.07.2019 16,525 0.14%

6.90% OIL SPL - 04.02.2026 4 0.00%


7.02% GOI - 17.08.2016 2,899 0.02%

7.16% GOI - 20.05.2023 599,637 4.93%

7.17% GOI - 14.06.2015 5,930 0.05%

7.35% GOI 2024- 22.06.24 2,092 0.02%

7.38% GOI 2015 - 03.09.2015 4,965 0.04%

7.50% GOI - 10.08.34 473 0.00%

7.56% GOI 2014 - 03.11.14 2,976 0.02%

7.59% GOI 2016 746 0.01%

7.75% OMC GOI BOND - 28.11.2021 6,692 0.06%

7.80% GOI - 03.05.2020 4,704 0.04%

7.80% GOI - 11.04.2021 3,599 0.03%






% of Total Funds


7.94% GOI - 24.05.21 1,413 0.01%

7.95% GOI - 28.08.32 381 0.00%


8.07%GOIJan15,2017 4,430 0.04%

8.08% GOI - 02.08.2022 93 0.00%


8.24% GOI - 15.02.27 229,332 1.89%

8.26% GOI - 02.08.27 1,109 0.01%

8.28% GOI - 21.09.2027 735,227 6.04%

8.30% Fertilizer Co GOI - 07.12.23 935 0.01%

8.30% GOI - 02.07.2040 4,594 0.04%

8.30% GOI 2040 ZCG - 02.01.2015 1,542 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 1,606 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 1,480 0.01%

8.35% GOI - 14.05.22 3,738 0.03%

8.79% GOI - 08.11.2021 8,962 0.07%

8.83% GOI - 25.11.2023 1,233,852 10.14%

9.20% GOI - 30.09.2030 437,406 3.60%

Total 3,559,037 29.26%



10.00% KMPL - 12.09.2014 17,944 0.15%



10.05% Tata Sons - 16.06.2014 36,010 0.30%

10.10% HDFC - 13.09.2017 5,095 0.04%

10.25% Tata Sons - 13.05.2014 21,994 0.18%

10.70% IRFC - 11.09.23 8,643 0.07%


11.05% KMPL - 30.05.2014 18,005 0.15%

11.15%REC-24.10.2018 1,056 0.01%

6.75% Canara Bank 31.05.2014 9,949 0.08%

7.60% HDFC - 08.12.17 2,844 0.02%

7.90% IIFCL - 28.04.24 24,017 0.20%

8.00%REC-05.08.2014 19,871 0.16%

8.10% IIFCL - 08.04.24 905 0.01%

8.20% IRFC - 27.04.2023 12,067 0.10%

8.20% IRFC - 27.04.2024 1,849 0.02%







% of Total Funds


8.26% IIFCL - 23.08.28 15,804 0.13%

8.30% PFC - 15.05.2018 P/C 15.05.2015 9,893 0.08%

8.35% HDFC - 19.07.2015 8,882 0.07%

8.35%REC-04.09.2014 20,850 0.17%

8.38% HDFC - 20.05.2018 3,801 0.03%

8.46% IIFCL - 30.08.28 26,408 0.22%

8.48% HDFC - 17.05.2016 4,885 0.04%

8.55% IRFC - 03.02.2020 10,588 0.09%

8.60% IRFC 2019 - 11.06.2019 11,629 0.10%


8.60% PFC 2014 - 07.08.2014 996 0.01%

8.70% PFC- 14.05.2025 940 0.01%

8.72% NABARD - 19.02.2018 P 19.05.2014 118,847 0.98%

8.75%REC-12.07.2025 11,259 0.09%

8.78% PFC - 15.11.2020 959 0.01%


8.82%REC-12.04.2023 4,765 0.04%

8.83%EXIM-09.01.2023 1,908 0.02%

8.84%REC-16.10.2014 10,965 0.09%

8.85% Tata Sons - 02.05.2018 9,628 0.08%

8.89% IDFC - 02.12.20 33,621 0.28%


8.90% PFC - 18.03.2028 4,740 0.04%

8.94% PFC - 25.03.2028 6,652 0.05%

8.99% PFC - 15.01.2021 2,907 0.02%

8.99% Tata Sons - 07.06.2020 9,508 0.08%

9%HDFCBankFDNSE-05.08.2014 11,142 0.09%

9.00%HDFCBankFDBSE-24.07.2014 5,222 0.04%

9.00%HDFCBankFDNSE-24.07.2014 11,315 0.09%

9.00% SBH FD - 11.06.2014 36,000 0.30%

9.05% BOB Perpetual Bond Call- 27.08.2020 5,608 0.05%


9.05% SBI Perpetual Bond Call - 27.01.2020 3,744 0.03%

9.07%EXIM-11.09.2017 5,921 0.05%

9.09% IRFC - 29.03.2026 8,820 0.07%

9.09% IRFC - 31.03.2026 17,563 0.14%


9.15%EXIM-20.07.2015P/C20.01.2015 8,966 0.07%






% of Total Funds


9.15%EXIMBank08.03.2021 977 0.01%

9.18% HDFC - 12.02.2018 5,881 0.05%

9.20% SBT - 31.07.2017 7,951 0.07%


9.25% OBC FD1 - 07.04.2016 272 0.00%

9.35% IIFCL - 17.11.23 7,987 0.07%

9.38%REC-06.11.2018 2,004 0.02%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 8,991 0.07%

9.43% IRFC - 23.05.18 12,041 0.10%

9.44% PFC - 23.09.2021 995 0.01%

9.48%REC-10.08.2021 1,969 0.02%

9.50% SBT FD - 09.07.2014 29,700 0.24%

9.50% SBT FD - 15.07.2014 29,700 0.24%

9.60% HDFC - 07.08.2015 13,961 0.11%

9.64% PFC - 15.12.2016 5,999 0.05%

9.75% HDFC - 10.01.2017 7,023 0.06%


9.75%REC-11.11.2021. 6,050 0.05%

9.78% Tata Sons - 13.01.2019 118,152 0.97%


9.8265% IDFC 2017 P/C 23.08.13 17,977 0.15%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 21,237 0.17%


9.85% Tata Sons - 21.05.2017 8,006 0.07%

9.87% Tata Sons - 17.07.2017 2,994 0.02%

9.90% HDFC - 10.06.2021 P - 10.07.12 5,024 0.04%

9.90% Tata Sons - 09.03.2016 10,023 0.08%

9.90% Tata Sons - 20.03.2019 19,079 0.16%

9.96% PFC 2017 - 18.05.17 1,014 0.01%





Bank of Baroda CD - 11.07.2014 65,303 0.54%

CBLO - 02.04.2014 500 0.00%










% of Total Funds



EXIMCD-13.12.2014 6,578 0.05%


HDFC Ltd CP - 02.12.14 122,584 1.01%




IDFC CP - 07.08.14 1,936 0.02%





PNB CD - 02.03.2015 27,678 0.23%

PNB CD - 02.06.2014 24,612 0.20%





Sundaram Fin CP - 18.09.14 5,243 0.04%

Vijaya Bank CD - 03.06.2014 2,062 0.02%


Total 3,259,453 26.80%

Others





















% of Total Funds










Grand Total 12,163,529 100.00%


Industry Kotak Pension Growth Fund

% of Total Funds





10.05% Tata Sons - 16.06.2014 1,000 0.46%


7.90% IIFCL - 28.04.24 890 0.41%

8.72% NABARD - 19.02.2018 P 19.05.2014 1,997 0.92%


9%HDFCBankFDNSE-05.08.2014 126 0.06%

9.00%HDFCBankFDBSE-24.07.2014 59 0.03%

9.00%HDFCBankFDNSE-24.07.2014 128 0.06%

9.09% IRFC - 29.03.2026 980 0.45%

9.1150% LIC Housing Finance - 11.02.18 - P - 11.09.14 996 0.46%

9.75%REC-11.11.2021. 1,008 0.47%

9.78% Tata Sons - 13.01.2019 3,004 1.39%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 1,011 0.47%



Andhra Bank CD - 17.09.2014 1,242 0.57%


Bank of Baroda CD - 11.07.2014 1,170 0.54%

CBLO - 02.04.2014 5,498 2.54%








% of Total Funds





HDFC Ltd CP - 02.12.14 1,879 0.87%







PNB CD - 02.06.2014 7,384 3.41%

RECLtdCP-31.07.14 970 0.45%





Total 64,816 29.93%

GOVT. of INDIA


6.35% OMC GOI BOND - 23.12.2024 2 0.00%

6.83% GOI - 19.01.39 16 0.01%

6.90% GOI - 13.07.2019 464 0.21%

7.16% GOI - 20.05.2023 10,493 4.84%

7.17% GOI - 14.06.2015 106 0.05%

7.38% GOI 2015 - 03.09.2015 86 0.04%

7.50% GOI - 10.08.34 8 0.00%

7.94% GOI - 24.05.21 58 0.03%

7.95% GOI - 28.08.32 7 0.00%


8.24% GOI - 15.02.27 4,044 1.87%

8.26% GOI - 02.08.27 21 0.01%

8.28% GOI - 21.09.2027 12,879 5.95%

8.30% GOI 2040 ZCG - 02.01.2015 31 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 32 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 30 0.01%

8.79% GOI - 08.11.2021 158 0.07%

8.83% GOI - 25.11.2023 21,680 10.01%

9.20% GOI - 30.09.2030 7,667 3.56%






% of Total Funds


Total 61,858 28.56%

Others
























Grand Total 216,590 100.00%


Industry Kotak Aggressive Growth Fund

% of Total Funds




9%HDFCBankFDNSE-05.08.2014 4,103 0.16%

9.00%HDFCBankFDBSE-24.07.2014 1,913 0.08%

9.00%HDFCBankFDNSE-24.07.2014 4,145 0.17%


Bank of Baroda CD - 11.07.2014 32,651 1.30%






Industry Kotak Aggressive Growth Fund

% of Total Funds


CBLO - 02.04.2014 7,497 0.30%










Total 690,659 27.53%






Wipro Ltd 28,444 1.13%

Total 393,998 15.71%

Others





















Grand Total 2,508,647 100.00%





Industry Frontline Equity Fund % of Total Funds




9%HDFCBankFDNSE-05.08.2014 222 0.01%

9.00%HDFCBankFDBSE-24.07.2014 104 0.01%

9.00%HDFCBankFDNSE-24.07.2014 225 0.01%


Bank of Baroda CD - 10.12.2014 3,856 0.22%

Bank of Baroda CD - 11.07.2014 97,466 5.55%

Bank of Baroda CD - 22.01.2015 6,702 0.38%

CBLO - 02.04.2014 6,498 0.37%





IDFC CP - 07.08.14 4,842 0.28%





PNB CD - 02.03.2015 9,226 0.53%





Total 588,592 33.53%






Wipro Ltd 19,295 1.10%

Total 257,874 14.69%

Others











Industry Frontline Equity Fund % of Total Funds

















Grand Total 1,755,388 100.00%


Industry Pension Frontline Equity Fund

% of Total Funds




9%HDFCBankFDNSE-05.08.2014 39 0.01%

9.00%HDFCBankFDBSE-24.07.2014 17 0.01%

9.00%HDFCBankFDNSE-24.07.2014 36 0.01%


Bank of Baroda CD - 10.12.2014 564 0.22%

Bank of Baroda CD - 11.07.2014 7,310 2.82%

Bank of Baroda CD - 22.01.2015 465 0.18%

CBLO - 02.04.2014 5,498 2.12%





IDFC CP - 07.08.14 484 0.19%







Industry Pension Frontline Equity Fund

% of Total Funds



PNB CD - 02.03.2015 1,568 0.61%




Total 83,722 32.31%






Wipro Ltd 2,944 1.14%

Total 39,275 15.16%

Others





















Grand Total 259,110 100.00%






Industry Kotak Opportunities Fund

% of Total Funds

ULIF-029-02/10/08-OPPFND-107



9%HDFCBankFDNSE-05.08.2014 4,987 0.07%

9.00%HDFCBankFDBSE-24.07.2014 2,292 0.03%

9.00%HDFCBankFDNSE-24.07.2014 4,966 0.07%


Bank of Baroda CD - 10.12.2014 17,492 0.24%

Bank of Baroda CD - 11.07.2014 85,283 1.15%

Bank of Baroda CD - 22.01.2015 22,433 0.30%





IDFC CP - 07.08.14 3,874 0.05%




PNB CD - 02.03.2015 11,902 0.16%



Vijaya Bank CD - 03.06.2014 1,282 0.02%


Total 2,064,357 27.81%






Wipro Ltd 126,177 1.71%

Total 1,091,849 14.71%

Others












Industry Kotak Opportunities Fund

% of Total Funds

ULIF-029-02/10/08-OPPFND-107








Manufacture of electrical equipment 76,388 1.03%



Mining of metal ores 62,086 0.84%

Real estate activities 48,449 0.65%




Grand Total 7,423,366 100.00%


Industry Kotak Pension Opportunities Fund

% of Total Funds




9%HDFCBankFDNSE-05.08.2014 53 0.03%

9.00%HDFCBankFDBSE-24.07.2014 24 0.01%

9.00%HDFCBankFDNSE-24.07.2014 53 0.03%


Bank of Baroda CD - 10.12.2014 376 0.23%

Bank of Baroda CD - 11.07.2014 1,462 0.89%

Bank of Baroda CD - 22.01.2015 745 0.46%














Industry Kotak Pension Opportunities Fund

% of Total Funds




Total 46,639 28.54%






Wipro Ltd 2,822 1.73%

Total 24,502 14.99%

Others























Grand Total 163,424 100.00%





Industry Classic Opportunities Fund

% of Total Funds




9%HDFCBankFDNSE-05.08.2014 1,292 0.01%

9.00%HDFCBankFDBSE-24.07.2014 586 0.01%

9.00%HDFCBankFDNSE-24.07.2014 1,270 0.01%


Bank of Baroda CD - 10.12.2014 21,159 0.23%

Bank of Baroda CD - 11.07.2014 141,326 1.54%

Bank of Baroda CD - 22.01.2015 57,897 0.63%

CBLO - 02.04.2014 6,498 0.07%





IDFC CP - 07.08.14 5,811 0.06%




PNB CD - 02.03.2015 66,797 0.73%





Vijaya Bank CD - 03.06.2014 9,862 0.11%


Total 2,741,739 29.89%






Wipro Ltd 153,460 1.67%

Total 1,312,882 14.31%

Others










Industry Classic Opportunities Fund

% of Total Funds




















Grand Total 9,172,603 100.00%


Industry Pension Classic Opportunities Fund

% of Total Funds




9%HDFCBankFDNSE-05.08.2014 172 0.01%

9.00%HDFCBankFDBSE-24.07.2014 72 0.00%

9.00%HDFCBankFDNSE-24.07.2014 157 0.01%


Bank of Baroda CD - 10.12.2014 3,574 0.24%

Bank of Baroda CD - 11.07.2014 24,367 1.62%

CBLO - 02.04.2014 1,500 0.10%










Industry Pension Classic Opportunities Fund

% of Total Funds




PNB CD - 02.03.2015 1,107 0.07%





Total 425,110 28.22%






Wipro Ltd 25,716 1.70%

Total 221,780 14.72%

Others























Grand Total 1,506,391 100.00%






Industry Dynamic Floor Fund % of Total Funds


GOVT. of INDIA


10.25% GOI - 30.05.21 10,558 0.10%

6.35% OMC GOI BOND - 23.12.2024 166 0.00%

6.83% GOI - 19.01.39 550 0.01%

6.90% GOI - 13.07.2019 10,578 0.10%


7.02% GOI - 17.08.2016 11,061 0.11%

7.16% GOI - 20.05.2023 538,670 5.25%

7.17% GOI - 14.06.2015 6,664 0.06%

7.38% GOI 2015 - 03.09.2015 6,264 0.06%

7.46% GOI - 28.08.17 2,494 0.02%

7.50% GOI - 10.08.34 349 0.00%

7.59% GOI 2016 2,156 0.02%

7.75% OMC GOI BOND - 28.11.2021 3,346 0.03%

7.94% GOI - 24.05.21 2,787 0.03%

7.95% GOI - 28.08.32 237 0.00%


8.08% GOI - 02.08.2022 2,711 0.03%

8.15% GOI FCI Bonds - 16.10.22 2,340 0.02%

8.20% GOI - 15.02.22 9,091 0.09%


8.24% GOI - 15.02.27 208,330 2.03%

8.26% GOI - 02.08.27 735 0.01%

8.28% GOI - 21.09.2027 591,234 5.77%

8.30% GOI 2040 ZCG - 02.01.2015 691 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 720 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 663 0.01%

8.79% GOI - 08.11.2021 8,251 0.08%

8.83% GOI - 25.11.2023 1,061,272 10.35%

9.20% GOI - 30.09.2030 392,693 3.84%

Total 3,075,814 30.00%



10.00% KMPL - 12.09.2014 20,935 0.20%



10.30% Tata Sons - 23.04.2014 5,002 0.05%







10.35% HDFC 2017 - 16.05.17 5,122 0.05%

10.70% IRFC - 11.09.23 7,563 0.07%



11% PFC - 15.09.18 1,050 0.01%

11.05% KMPL - 30.05.2014 21,006 0.20%

11.15% HDFC - 06.08.2018 12,645 0.12%

11.25% HDFC - 04.09.2018 19,042 0.19%

7.90% IIFCL - 28.04.24 61,377 0.60%

8.00%REC-05.08.2014 9,935 0.10%

8.20% IRFC - 27.04.2024 925 0.01%

8.26% IIFCL - 23.08.28 21,731 0.21%


8.30% PFC - 15.05.2018 P/C 15.05.2015 8,904 0.09%

8.35% HDFC - 19.07.2015 987 0.01%

8.35%REC-04.09.2014 6,950 0.07%

8.38% HDFC - 20.05.2018 3,801 0.04%

8.46% IIFCL - 30.08.28 32,502 0.32%

8.48% HDFC - 17.05.2016 2,931 0.03%

8.50% IRFC - 22.06.2020 15,334 0.15%

8.55% IRFC - 03.02.2020 5,775 0.06%

8.60% PFC 2024 - 07.08.2024 1,872 0.02%

8.68% IRFC - 29.11.2021 953 0.01%

8.72% NABARD - 19.02.2018 P 19.05.2014 120,844 1.18%

8.75%REC-12.07.2025 6,568 0.06%

8.78% PFC - 15.11.2020 2,878 0.03%

8.79% IRFC - 04.05.2030 1,897 0.02%

8.80% PFC - 15.01.2025 3,791 0.04%


8.82%REC-12.04.2023 4,765 0.05%

8.83%EXIM-09.01.2023 1,908 0.02%

8.85% Tata Sons - 02.05.2018 10,591 0.10%

8.89% IDFC - 02.12.20 32,661 0.32%


8.90% PFC - 18.03.2028 2,844 0.03%

8.91% PFC - 15.10.2017 8,866 0.09%

8.94% PFC - 25.03.2028 5,702 0.06%

8.95% IRFC Ltd- 10.03.2025 1,943 0.02%








8.95% PFC- 30.03.2020 970 0.01%

8.98% HDFC - 26.11.2020 10,573 0.10%

8.99% PFC - 15.01.2021 969 0.01%

8.99% Tata Sons - 07.06.2020 7,607 0.07%

9%HDFCBankFDNSE-05.08.2014 2,843 0.03%

9.00%HDFCBankFDBSE-24.07.2014 1,244 0.01%

9.00%HDFCBankFDNSE-24.07.2014 2,696 0.03%

9.00% SBH FD - 11.06.2014 27,000 0.26%

9.05% PFC - 15.12.2025 947 0.01%


9.07%EXIM-11.09.2017 4,935 0.05%

9.09% IRFC - 29.03.2026 10,780 0.11%

9.09% IRFC - 31.03.2026 16,587 0.16%

9.14%EXIM-01.08.2022 3,925 0.04%

9.15%EXIM-20.07.2015P/C20.01.2015 8,966 0.09%

9.15%EXIMBank-30.03.2021 1,956 0.02%

9.20% SBT - 31.07.2017 9,938 0.10%


9.25% IDFC - 13.09.19 26,718 0.26%


9.35% IIFCL - 17.11.23 998 0.01%

9.36% PFC - 01.08.2021 2,957 0.03%

9.38%REC-06.11.2018 1,002 0.01%

9.40%REC-20.07.2017 3,984 0.04%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 8,991 0.09%

9.43% IRFC - 23.05.18 7,024 0.07%

9.44% PFC - 23.09.2021 19,901 0.19%

9.50% HDFC - 13.09.2017 1,985 0.02%

9.50% SBT FD - 05.07.2014 9,900 0.10%

9.57%EXIM-10.01.2024 1,997 0.02%

9.62% PFC - 29.06.2016 1,003 0.01%

9.64% PFC - 15.12.2016 5,999 0.06%

9.75% HDFC - 10.01.2017 5,016 0.05%

9.75% HDFC 07.12.16 - PC 07.01.13 12,019 0.12%


9.75%REC-11.11.2021. 6,050 0.06%

9.75% Tata Sons - 21.04.2016 2,982 0.03%

9.78% Tata Sons - 13.01.2019 146,187 1.43%








9.8265% IDFC 2017 P/C 23.08.13 4,994 0.05%

9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 54,609 0.53%

9.85%REC-28.09.17 15,185 0.15%

9.85% Tata Sons - 21.05.2017 9,007 0.09%

9.87% Tata Sons - 17.07.2017 998 0.01%

9.90% HDFC - 10.06.2021 P - 10.07.12 9,043 0.09%

9.90% State Bank of Patiala - 28.09.2022 CALL 28.09.2017 34,460 0.34%

9.90% Tata Sons - 09.03.2016 9,021 0.09%

9.90% Tata Sons - 20.03.2019 17,071 0.17%


9.98% Tata Sons - 10.04.2015 3,010 0.03%



Bank of Baroda CD - 22.01.2015 11,603 0.11%

Cairn India Ltd 32,058 0.31%

CBLO - 02.04.2014 18,493 0.18%

Coal India Ltd 29,191 0.28%







L&T Finance CP - 07.10.2014 35,195 0.34%




PNB CD - 02.03.2015 27,678 0.27%

PNB CD - 02.06.2014 55,033 0.54%

Punjab National Bank 17,388 0.17%

RECLtdCP-31.07.14 3,882 0.04%


Vijaya Bank CD - 03.06.2014 6,111 0.06%

Total 2,723,752 26.57%

Others

























Warehousing and support activities for transportation 34,782 0.34%




Grand Total 10,252,945 100.00%


Industry Kotak Group Dynamic Floor Fund

% of Total Funds


GOVT. of INDIA

1.44%INFLATIONINDEXGS2023 847 2.21%

6.35% OMC GOI BOND - 23.12.2024 1 0.00%

6.83% GOI - 19.01.39 4 0.01%

6.90% GOI - 13.07.2019 133 0.35%


7.16% GOI - 20.05.2023 1,980 5.18%

7.17% GOI - 14.06.2015 36 0.10%

7.38% GOI 2015 - 03.09.2015 34 0.09%

7.50% GOI - 10.08.34 2 0.00%

7.94% GOI - 24.05.21 4 0.01%

7.95% GOI - 28.08.32 2 0.00%







% of Total Funds


8.24% GOI - 15.02.27 755 1.98%

8.26% GOI - 02.08.27 4 0.01%

8.28% GOI - 21.09.2027 2,171 5.68%

8.30% GOI 2040 ZCG - 02.01.2015 20 0.05%

8.30% GOI 2040 ZCG - 02.07.2014 21 0.05%

8.30% GOI 2040 ZCG - 02.07.2015 19 0.05%

8.79% GOI - 08.11.2021 45 0.12%

8.83% GOI - 25.11.2023 3,880 10.15%

9.20% GOI - 30.09.2030 1,442 3.78%

Total 11,417 29.86%




8.90% PFC - 18.03.2028 948 2.48%

9%HDFCBankFDNSE-05.08.2014 142 0.37%

9.00%HDFCBankFDBSE-24.07.2014 64 0.17%

9.00%HDFCBankFDNSE-24.07.2014 139 0.36%

Axis Bank Ltd 292 0.76%

Cairn India Ltd 129 0.34%

CBLO - 02.04.2014 1,000 2.61%

Coal India Ltd 118 0.31%

HDFC Bank Ltd 907 2.37%


Housing Development Finance Corp. Ltd 900 2.35%

ICICI Bank Ltd 936 2.45%

IndusInd Bank Limited 138 0.36%


Punjab National Bank 70 0.18%


Total 7,629 19.95%

Others














% of Total Funds


Mfg of pharmaceuticals, medicinal chemical & botanical products 982 2.57%

Civil engineering 865 2.26%

Manufacture of chemicals and chemical products 717 1.88%

Extractionofcrudepetroleumandnaturalgas 471 1.23%

Manufacture of other transport equipment 463 1.21%


Manufacture of other non-metallic mineral products 415 1.08%

Telecommunications 316 0.83%

Mining of metal ores 286 0.75%

Manufacture of beverages 164 0.43%

Warehousing and support activities for transportation 140 0.37%


Real estate activities 65 0.17%

Net Current Assets (107) -0.30%

Grand Total 38,236 100.00%


Industry Kotak Pension Floor Fund

% of Total Funds


GOVT. of INDIA


10.25% GOI - 30.05.21 1,161 0.17%

12.30% GOI - 02.07.2016 537 0.08%

6.35% OMC GOI BOND - 23.12.2024 12 0.00%

6.83% GOI - 19.01.39 58 0.01%

6.90% GOI - 13.07.2019 1,855 0.28%

7.16% GOI - 20.05.2023 35,375 5.30%

7.17% GOI - 14.06.2015 498 0.07%

7.38% GOI 2015 - 03.09.2015 469 0.07%

7.50% GOI - 10.08.34 26 0.00%

7.94% GOI - 24.05.21 248 0.04%

7.95% GOI - 28.08.32 17 0.00%


8.20% GOI - 15.02.22 663 0.10%

8.24% GOI - 15.02.27 13,602 2.04%

8.26% GOI - 02.08.27 54 0.01%

8.28% GOI - 21.09.2027 38,763 5.80%

8.30% GOI 2040 ZCG - 02.01.2015 69 0.01%






% of Total Funds


8.30% GOI 2040 ZCG - 02.07.2014 71 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 66 0.01%

8.79% GOI - 08.11.2021 626 0.09%

8.83% GOI - 25.11.2023 69,488 10.41%

9.20% GOI - 30.09.2030 25,741 3.86%

Total 203,294 30.44%



10.00% KMPL - 12.09.2014 1,994 0.30%



11.05% KMPL - 30.05.2014 2,001 0.30%

11.15% HDFC - 06.08.2018 1,054 0.16%

11.25% HDFC - 04.09.2018 1,058 0.16%

7.90% IIFCL - 28.04.24 4,448 0.67%

8.26% IIFCL - 23.08.28 1,976 0.30%

8.30% PFC - 15.05.2018 P/C 15.05.2015 989 0.15%

8.46% IIFCL - 30.08.28 2,031 0.30%

8.50% IRFC - 22.06.2020 958 0.14%

8.72% NABARD - 19.02.2018 P 19.05.2014 8,988 1.35%


8.85% Tata Sons - 02.05.2018 963 0.14%

8.89% IDFC - 02.12.20 2,882 0.43%

8.99% Tata Sons - 07.06.2020 951 0.14%

9%HDFCBankFDNSE-05.08.2014 312 0.05%

9.00%HDFCBankFDBSE-24.07.2014 138 0.02%

9.00%HDFCBankFDNSE-24.07.2014 299 0.04%

9.05% SBH Perpetual Bond Call- 20.09.2020 931 0.14%

9.09% IRFC - 29.03.2026 2,940 0.44%

9.09% IRFC - 31.03.2026 976 0.15%

9.15%EXIM-20.07.2015P/C20.01.2015 996 0.15%

9.20% SBT - 31.07.2017 994 0.15%

9.25% IDFC - 13.09.19 1,979 0.30%


9.41% NABARD - 16.07.2015 P/C 16.07.2014 999 0.15%


9.75%REC-11.11.2021. 1,008 0.15%

9.78% Tata Sons - 13.01.2019 9,012 1.35%








% of Total Funds


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 4,045 0.61%

9.85%REC-28.09.17 1,012 0.15%


9.90% Tata Sons - 09.03.2016 1,002 0.15%

9.90% Tata Sons - 20.03.2019 1,004 0.15%





CBLO - 02.04.2014 1,999 0.30%








L&T Finance CP - 07.10.2014 5,232 0.78%



RECLtdCP-31.07.14 1,941 0.29%


Vijaya Bank CD - 03.06.2014 1,872 0.28%

Total 173,732 26.02%

Others




















% of Total Funds









Grand Total 667,752 100.00%


Industry Dynamic Floor Fund II % of Total Funds

ULIF-035-17/12/09-DYFLRFND2-107

GOVT. of INDIA


10.25% GOI - 30.05.21 9,185 0.14%

12.30% GOI - 02.07.2016 2,687 0.04%

6.35% OMC GOI BOND - 23.12.2024 106 0.00%

6.83% GOI - 19.01.39 451 0.01%

6.90% GOI - 13.07.2019 4,687 0.07%

7.02% GOI - 17.08.2016 17,737 0.27%

7.16% GOI - 20.05.2023 346,982 5.22%

7.17% GOI - 14.06.2015 4,241 0.06%

7.35% GOI 2024- 22.06.24 1,924 0.03%

7.38% GOI 2015 - 03.09.2015 4,017 0.06%

7.50% GOI - 10.08.34 221 0.00%

7.75% OMC GOI BOND - 28.11.2021 3,680 0.06%

7.94% GOI - 24.05.21 1,326 0.02%

7.95% GOI - 28.08.32 142 0.00%


8.08% GOI - 02.08.2022 1,122 0.02%

8.20% GOI - 15.02.22 5,492 0.08%

8.24% GOI - 15.02.27 133,838 2.01%

8.26% GOI - 02.08.27 439 0.01%

8.28% GOI - 21.09.2027 380,579 5.73%

8.30% GOI 2040 ZCG - 02.01.2015 332 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 346 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 319 0.00%

8.79% GOI - 08.11.2021 5,267 0.08%







ULIF-035-17/12/09-DYFLRFND2-107

8.83% GOI - 25.11.2023 682,703 10.27%

9.20% GOI - 30.09.2030 252,823 3.80%

Total 1,989,245 29.94%



10.00% KMPL - 12.09.2014 12,960 0.20%



10.70% IRFC - 11.09.23 4,322 0.07%



11.05% KMPL - 30.05.2014 13,004 0.20%

11.15% HDFC - 06.08.2018 6,322 0.10%

11.25% HDFC - 04.09.2018 12,695 0.19%

7.90% IIFCL - 28.04.24 32,023 0.48%

8.00%REC-05.08.2014 1,987 0.03%

8.20% IRFC - 27.04.2024 925 0.01%

8.26% IIFCL - 23.08.28 13,829 0.21%

8.30% PFC - 15.05.2018 P/C 15.05.2015 5,936 0.09%

8.38% HDFC - 20.05.2018 950 0.01%

8.46% IIFCL - 30.08.28 21,329 0.32%

8.48% HDFC - 17.05.2016 1,954 0.03%

8.50% IRFC - 22.06.2020 8,626 0.13%

8.55% IRFC - 03.02.2020 3,850 0.06%

8.70% PFC- 14.05.2020 958 0.01%

8.72% NABARD - 19.02.2018 P 19.05.2014 75,902 1.14%

8.75%REC-12.07.2025 3,753 0.06%


8.82%REC-12.04.2023 2,859 0.04%

8.83%EXIM-09.01.2023 954 0.01%

8.85% Tata Sons - 02.05.2018 5,777 0.09%

8.89% IDFC - 02.12.20 20,173 0.30%


8.90% PFC - 18.03.2028 2,844 0.04%

8.94% PFC - 25.03.2028 3,801 0.06%

8.98% HDFC - 26.11.2020 3,845 0.06%

8.99% Tata Sons - 07.06.2020 5,705 0.09%

9%HDFCBankFDNSE-05.08.2014 1,148 0.02%






ULIF-035-17/12/09-DYFLRFND2-107

9.00%HDFCBankFDBSE-24.07.2014 499 0.01%

9.00%HDFCBankFDNSE-24.07.2014 1,081 0.02%

9.00% SBH FD - 11.06.2014 18,000 0.27%


9.07%EXIM-11.09.2017 2,961 0.04%

9.09% IRFC - 29.03.2026 3,920 0.06%

9.09% IRFC - 31.03.2026 8,781 0.13%

9.15%EXIM-20.07.2015P/C20.01.2015 4,981 0.07%

9.20% SBT - 31.07.2017 8,945 0.13%


9.25% IDFC - 13.09.19 20,781 0.31%


9.38%REC-06.11.2018 1,002 0.02%

9.40%REC-20.07.2017 1,992 0.03%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 4,995 0.08%

9.43% IRFC - 23.05.18 4,014 0.06%

9.44% PFC - 23.09.2021 13,931 0.21%

9.64% PFC - 15.12.2016 2,999 0.05%

9.75% HDFC - 10.01.2017 4,013 0.06%

9.75% HDFC 07.12.16 - PC 07.01.13 2,003 0.03%


9.75%REC-11.11.2021. 3,025 0.05%

9.78% Tata Sons - 13.01.2019 94,121 1.42%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 27,304 0.41%

9.85%REC-28.09.17 17,210 0.26%

9.85% Tata Sons - 21.05.2017 5,004 0.08%

9.87% Tata Sons - 17.07.2017 998 0.02%

9.90% HDFC - 10.06.2021 P - 10.07.12 5,024 0.08%


9.90% Tata Sons - 09.03.2016 5,011 0.08%

9.90% Tata Sons - 20.03.2019 11,046 0.17%





CBLO - 02.04.2014 13,495 0.20%







ULIF-035-17/12/09-DYFLRFND2-107








L&T Finance CP - 07.10.2014 29,963 0.45%



PNB CD - 02.03.2015 14,854 0.22%



Vijaya Bank CD - 03.06.2014 6,311 0.06%

Total 1,677,859 25.25%

Others






















Grand Total 6,644,516 100.00%





Industry Pension Floor Fund II % of Total Funds


GOVT. of INDIA


10.25% GOI - 30.05.21 2,217 0.17%

12.30% GOI - 02.07.2016 2,149 0.17%

6.35% OMC GOI BOND - 23.12.2024 22 0.00%

6.83% GOI - 19.01.39 103 0.01%

6.90% GOI - 13.07.2019 948 0.07%

7.16% GOI - 20.05.2023 67,668 5.23%

7.17% GOI - 14.06.2015 875 0.07%

7.38% GOI 2015 - 03.09.2015 849 0.07%

7.50% GOI - 10.08.34 48 0.00%

7.94% GOI - 24.05.21 359 0.03%

7.95% GOI - 28.08.32 31 0.00%


8.08% GOI - 02.08.2022 467 0.04%

8.20% GOI - 15.02.22 1,231 0.10%

8.24% GOI - 15.02.27 26,046 2.01%

8.26% GOI - 02.08.27 97 0.01%

8.28% GOI - 21.09.2027 73,865 5.71%

8.30% GOI 2040 ZCG - 02.01.2015 81 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 84 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 78 0.01%

8.79% GOI - 08.11.2021 1,125 0.09%

8.83% GOI - 25.11.2023 132,629 10.25%

9.20% GOI - 30.09.2030 49,105 3.77%

Total 385,527 29.79%



10.00% KMPL - 12.09.2014 2,991 0.23%


10.70% IRFC - 11.09.23 1,080 0.08%



11.05% KMPL - 30.05.2014 3,001 0.23%

11.15% HDFC - 06.08.2018 2,107 0.16%

11.25% HDFC - 04.09.2018 3,174 0.25%

7.90% IIFCL - 28.04.24 7,116 0.55%

8.26% IIFCL - 23.08.28 2,963 0.23%

8.30% PFC - 15.05.2018 P/C 15.05.2015 989 0.08%








8.46% IIFCL - 30.08.28 4,063 0.31%

8.50% IRFC - 22.06.2020 1,917 0.15%

8.55% IRFC - 03.02.2020 963 0.07%

8.72% NABARD - 19.02.2018 P 19.05.2014 15,979 1.23%

8.75%REC-12.07.2025 938 0.07%


8.82%REC-12.04.2023 953 0.07%

8.85% Tata Sons - 02.05.2018 963 0.07%

8.89% IDFC - 02.12.20 3,842 0.30%

8.90% PFC - 18.03.2028 948 0.07%

8.94% PFC - 25.03.2028 950 0.07%

8.99% Tata Sons - 07.06.2020 951 0.07%

9%HDFCBankFDNSE-05.08.2014 305 0.02%

9.00%HDFCBankFDBSE-24.07.2014 130 0.01%

9.00%HDFCBankFDNSE-24.07.2014 281 0.02%


9.07%EXIM-11.09.2017 987 0.08%

9.09% IRFC - 29.03.2026 1,960 0.15%

9.09% IRFC - 31.03.2026 2,927 0.23%

9.15%EXIM-20.07.2015P/C20.01.2015 996 0.08%

9.20% SBT - 31.07.2017 1,988 0.15%

9.25% IDFC - 13.09.19 3,958 0.31%


9.40%REC-20.07.2017 996 0.08%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 999 0.08%

9.43% IRFC - 23.05.18 1,003 0.08%

9.57% IRFC - 31.05.2021 1,004 0.08%

9.75% HDFC - 10.01.2017 1,003 0.08%


9.75%REC-11.11.2021. 1,008 0.08%

9.75% Tata Sons - 21.04.2016 994 0.08%

9.78% Tata Sons - 13.01.2019 14,018 1.08%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 8,090 0.63%

9.85%REC-28.09.17 3,037 0.23%

9.85% Tata Sons - 21.05.2017 1,001 0.08%

9.90% HDFC - 10.06.2021 P - 10.07.12 1,005 0.08%








9.90% Tata Sons - 09.03.2016 1,002 0.08%

9.90% Tata Sons - 20.03.2019 2,008 0.16%





CBLO - 02.04.2014 5,998 0.46%








L&T Finance CP - 07.10.2014 4,756 0.37%



RECLtdCP-31.07.14 3,882 0.30%


Vijaya Bank CD - 03.06.2014 3,455 0.27%

Total 329,601 25.47%

Others





























Grand Total 1,294,238 100.00%


Industry Guarantee Fund % of Total Funds

ULIF-048-05/02/10-GRTFND-107

GOVT. of INDIA


10.25% GOI - 30.05.21 633 0.13%

12.30% GOI - 02.07.2016 2,149 0.45%

6.01% GOI - 25.03.2028 570 0.12%

6.35% OMC GOI BOND - 23.12.2024 7 0.00%

6.83% GOI - 19.01.39 33 0.01%

6.90% GOI - 13.07.2019 1,164 0.25%

7.16% GOI - 20.05.2023 24,523 5.18%

7.17% GOI - 14.06.2015 303 0.06%

7.38% GOI 2015 - 03.09.2015 286 0.06%

7.50% GOI - 10.08.34 16 0.00%

7.94% GOI - 24.05.21 80 0.02%

7.95% GOI - 28.08.32 10 0.00%


8.20% GOI - 15.02.22 379 0.08%

8.24% GOI - 15.02.27 9,520 2.01%

8.26% GOI - 02.08.27 32 0.01%

8.28% GOI - 21.09.2027 27,035 5.71%

8.30% GOI 2040 ZCG - 02.01.2015 25 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 26 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 24 0.01%

8.79% GOI - 08.11.2021 377 0.08%

8.83% GOI - 25.11.2023 48,522 10.25%

9.20% GOI - 30.09.2030 17,944 3.77%

Total 142,793 30.15%








ULIF-048-05/02/10-GRTFND-107

10.00% KMPL - 12.09.2014 997 0.21%




11.05% KMPL - 30.05.2014 1,000 0.21%

11.15% HDFC - 06.08.2018 1,054 0.22%

11.25% HDFC - 04.09.2018 1,058 0.22%

7.90% IIFCL - 28.04.24 2,669 0.56%

8.26% IIFCL - 23.08.28 988 0.21%

8.46% IIFCL - 30.08.28 1,016 0.21%

8.50% IRFC - 22.06.2020 958 0.20%

8.72% NABARD - 19.02.2018 P 19.05.2014 5,992 1.27%


8.89% IDFC - 02.12.20 1,921 0.41%

8.91% PFC - 15.10.2017 985 0.21%

9%HDFCBankFDNSE-05.08.2014 117 0.02%

9.00%HDFCBankFDBSE-24.07.2014 51 0.01%

9.00%HDFCBankFDNSE-24.07.2014 111 0.02%


9.14%EXIM-01.08.2022 2,944 0.62%

9.20% SBT - 31.07.2017 994 0.21%

9.25% IDFC - 13.09.19 1,979 0.42%


9.44% PFC - 23.09.2021 995 0.21%

9.64% PFC - 15.12.2016 1,000 0.21%

9.78% Tata Sons - 13.01.2019 5,006 1.06%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 2,023 0.43%

9.85%REC-28.09.17 1,012 0.21%


9.90% Tata Sons - 20.03.2019 1,004 0.21%





CBLO - 02.04.2014 1,499 0.32%









ULIF-048-05/02/10-GRTFND-107






L&T Finance CP - 07.10.2014 3,329 0.70%


PNB CD - 02.06.2014 1,969 0.42%


RECLtdCP-31.07.14 970 0.20%


Vijaya Bank CD - 03.06.2014 1,185 0.27%

Total 121,912 25.74%

Others





















Net Current Assets (327) -0.08%

Grand Total 473,561 100.00%





Industry Pension Guarantee Fund

% of Total Funds


GOVT. of INDIA


10.25% GOI - 30.05.21 2,112 0.15%

12.30% GOI - 02.07.2016 5,373 0.39%

6.01% GOI - 25.03.2028 1,854 0.14%

6.35% OMC GOI BOND - 23.12.2024 24 0.00%

6.83% GOI - 19.01.39 106 0.01%

6.90% GOI - 13.07.2019 2,638 0.19%

7.16% GOI - 20.05.2023 72,114 5.25%

7.17% GOI - 14.06.2015 923 0.07%

7.38% GOI 2015 - 03.09.2015 879 0.06%

7.50% GOI - 10.08.34 50 0.00%

7.94% GOI - 24.05.21 274 0.02%

7.95% GOI - 28.08.32 32 0.00%


8.20% GOI - 15.02.22 1,231 0.09%

8.24% GOI - 15.02.27 27,912 2.03%

8.26% GOI - 02.08.27 101 0.01%

8.28% GOI - 21.09.2027 79,094 5.76%

8.30% GOI 2040 ZCG - 02.01.2015 79 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 82 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 76 0.01%

8.79% GOI - 08.11.2021 1,169 0.09%

8.83% GOI - 25.11.2023 142,066 10.35%

9.20% GOI - 30.09.2030 52,533 3.82%

Total 417,627 30.42%



10.00% KMPL - 12.09.2014 2,991 0.22%


10.70% IRFC - 11.09.23 1,080 0.08%



11.05% KMPL - 30.05.2014 3,001 0.22%

11.15% HDFC - 06.08.2018 2,107 0.15%

11.25% HDFC - 04.09.2018 3,174 0.23%

7.90% IIFCL - 28.04.24 7,116 0.52%

8.00%REC-05.08.2014 994 0.07%

8.26% IIFCL - 23.08.28 2,963 0.22%

8.30% PFC - 15.05.2018 P/C 15.05.2015 989 0.07%

8.45%REC-19.02.2015 993 0.07%

8.46% IIFCL - 30.08.28 5,078 0.37%

8.50% IRFC - 22.06.2020 1,917 0.14%

8.55% IRFC - 03.02.2020 963 0.07%

8.72% NABARD - 19.02.2018 P 19.05.2014 16,978 1.24%







% of Total Funds



8.82%REC-12.04.2023 953 0.07%

8.85% Tata Sons - 02.05.2018 963 0.07%

8.89% IDFC - 02.12.20 4,803 0.35%

8.90% PFC - 18.03.2028 948 0.07%

8.94% PFC - 25.03.2028 950 0.07%

8.99% Tata Sons - 07.06.2020 951 0.07%

9%HDFCBankFDNSE-05.08.2014 309 0.02%

9.00%HDFCBankFDBSE-24.07.2014 133 0.01%

9.00%HDFCBankFDNSE-24.07.2014 288 0.02%


9.07%EXIM-11.09.2017 987 0.07%

9.09% IRFC - 31.03.2026 2,927 0.21%

9.14%EXIM-01.08.2022 3,925 0.29%

9.15%EXIM-20.07.2015P/C20.01.2015 996 0.07%

9.20% SBT - 31.07.2017 1,988 0.14%

9.25% IDFC - 13.09.19 4,948 0.36%


9.40%REC-20.07.2017 996 0.07%

9.41% NABARD - 16.07.2015 P/C 16.07.2014 999 0.07%


9.75%REC-11.11.2021. 1,008 0.07%

9.78% Tata Sons - 13.01.2019 15,019 1.09%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 7,079 0.52%

9.85%REC-28.09.17 3,037 0.22%

9.85% Tata Sons - 21.05.2017 1,001 0.07%

9.90% HDFC - 10.06.2021 P - 10.07.12 1,005 0.07%


9.90% Tata Sons - 09.03.2016 1,002 0.07%

9.90% Tata Sons - 20.03.2019 2,008 0.15%





CBLO - 02.04.2014 3,998 0.29%








L&T Finance CP - 07.10.2014 9,988 0.73%







% of Total Funds


PNB CD - 02.06.2014 3,938 0.29%


RECLtdCP-31.07.14 1,941 0.14%


Total 353,332 25.73%

Others






















Grand Total 1,373,076 100.00%


Industry Peak Guarantee Fund I % of Total Funds

ULIF-049-14/02/10-PKGRTFND1-107

GOVT. of INDIA


10.25% GOI - 30.05.21 528 0.18%

12.30% GOI - 02.07.2016 1,612 0.54%

6.01% GOI - 25.03.2028 493 0.17%

6.35% OMC GOI BOND - 23.12.2024 6 0.00%

6.83% GOI - 19.01.39 28 0.01%

6.90% GOI - 13.07.2019 516 0.17%

7.16% GOI - 20.05.2023 15,937 5.37%

7.17% GOI - 14.06.2015 216 0.07%

7.38% GOI 2015 - 03.09.2015 206 0.07%

7.50% GOI - 10.08.34 13 0.00%







ULIF-049-14/02/10-PKGRTFND1-107

7.94% GOI - 24.05.21 68 0.02%

7.95% GOI - 28.08.32 10 0.00%


8.20% GOI - 15.02.22 379 0.13%

8.24% GOI - 15.02.27 6,102 2.06%

8.26% GOI - 02.08.27 24 0.01%

8.28% GOI - 21.09.2027 17,395 5.87%

8.30% GOI 2040 ZCG - 02.01.2015 22 0.01%

8.30% GOI 2040 ZCG - 02.07.2014 22 0.01%

8.30% GOI 2040 ZCG - 02.07.2015 21 0.01%

8.79% GOI - 08.11.2021 275 0.09%

8.83% GOI - 25.11.2023 31,169 10.51%

9.20% GOI - 30.09.2030 11,574 3.91%

Total 92,659 31.24%



10.00% KMPL - 12.09.2014 997 0.34%


10.75% Magma Fincorp Ltd-07.08.2014 998 0.34%


11.05% KMPL - 30.05.2014 1,000 0.34%

11.15% HDFC - 06.08.2018 1,054 0.36%

7.90% IIFCL - 28.04.24 1,779 0.60%

8.26% IIFCL - 23.08.28 988 0.33%

8.46% IIFCL - 30.08.28 1,016 0.34%

8.50% IRFC - 22.06.2020 958 0.32%

8.72% NABARD - 19.02.2018 P 19.05.2014 3,995 1.35%


8.89% IDFC - 02.12.20 961 0.32%

8.91% PFC - 15.10.2017 985 0.33%

9%HDFCBankFDNSE-05.08.2014 110 0.04%

9.00%HDFCBankFDBSE-24.07.2014 48 0.02%

9.00%HDFCBankFDNSE-24.07.2014 105 0.04%

9.14%EXIM-01.08.2022 981 0.33%

9.25% IDFC - 13.09.19 990 0.33%


9.78% Tata Sons - 13.01.2019 1,001 0.34%


9.85% HDFC Bank 2019 - 17.03.2024 CALL 17.03.2019 2,023 0.68%


9.90% Tata Sons - 20.03.2019 1,004 0.34%




Cairn India Ltd 948 0.32%






ULIF-049-14/02/10-PKGRTFND1-107

CBLO - 02.04.2014 4,998 1.69%

Coal India Ltd 863 0.29%







L&T Finance CP - 07.10.2014 2,378 0.80%


PNB CD - 02.06.2014 2,953 1.00%


RECLtdCP-31.07.14 970 0.33%


Vijaya Bank CD - 03.06.2014 885 0.28%

Total 79,481 26.80%

Others






















Grand Total 296,572 100.00%






Industry Kotak Advantage Multiplier Fund

% of Total Funds


GOVT. of INDIA

12.30% GOI - 02.07.2016 1,612 9.52%

7.02% GOI - 17.08.2016 2,144 12.66%

7.56% GOI 2014 - 03.11.14 276 1.63%

7.59% GOI 2016 2,209 13.04%

8.79% GOI - 08.11.2021 883 5.21%

Total 7,124 42.06%


9.62% PFC - 29.06.2016 1,003 5.93%


9.75% Tata Sons - 19.07.2016 998 5.89%

CBLO - 02.04.2014 3,499 20.66%

Total 6,498 38.37%

Others



Net Current Assets 575 3.40%

Grand Total 16,936 100.00%


Industry Kotak Advantage Multiplier Fund II

% of Total Funds


GOVT. of INDIA

7.02% GOI - 17.08.2016 2,308 15.40%

7.46% GOI - 28.08.17 2,142 14.29%

7.56% GOI 2014 - 03.11.14 547 3.65%

7.59% GOI 2016 2,586 17.26%

8.20% OMC GOI 2023-10.11.23 107 0.71%

Total 7,690 51.31%


9.70% PFC - 15.12.2018 1,004 6.70%

9.75% Tata Sons - 19.07.2016 998 6.66%


CBLO - 02.04.2014 500 3.33%


Total 4,495 29.99%

Others


State Development Loan 991 6.61%


Grand Total 14,987 100.00%





Industry Kotak Advantage Plus Fund II

% of Total Funds


GOVT. of INDIA

7.46% GOI - 28.08.17 1,733 39.04%

7.59% GOI 2016 1,575 35.49%

Total 3,308 74.53%


CBLO - 02.04.2014 1,000 22.52%

Total 1,000 22.52%

Others


Grand Total 4,438 100.00%

26 Details of penal actions taken by various Government Authorities (IRDA Cir No.005/IRDA/F&A/CIR/MAY-09 dtd May 07, 2009)

Authority Non-compliance/Violation

Amount

Penalty Awarded

Penalty Paid Penalty Waived/Reduced

1. Insurance Regulatory and Development Authority Nil Nil Nil Nil

2. Service Tax Authorities Nil Nil Nil Nil

3. Income Tax Authorities Nil Nil Nil Nil

4. Any other Tax Authorities Nil Nil Nil Nil

5. EnforcementDirectorate/AdjudicatingAuthority/TribunaloranyAuthorityunderFEMA

Nil Nil Nil Nil

6. Registrar of Companies/ NCLT/CLB/ Department of Corporate Affairs or any Authority under Companies Act, 1956.

Nil Nil Nil Nil

7. Penalty awarded by any Court/ Tribunal for any matter including claim settlement but excluding compensation

Nil Nil Nil Nil

8. SecuritiesandExchangeBoardofIndia* Nil Nil Nil Nil

9. Competition Commission of India Nil Nil Nil Nil

10. Any other Central/State/Local Government /Statutory Authority

Nil Nil Nil Nil





27 Statement of Age-wise Analysis of the Unclaimed Amount of the Policyholders

(IRDA circular no. -IRDA/F&I/CIR/CMP/174/11/2010, dated 04-11-2010 )

Particulars Total Amount

Age-wise Analysis

2013-14 1-6 months

7-12 months

13-18 months

19-24 months

25-30 months

31-36 months

Beyond 36 months

Claims settled but not paid to the policyholders/Insured due to any reasons except under litigation from the insured/policyholders

47,482 16,669 13,208 3,287 2,071 2,774 3,910 5,563

Sum due to the insured/policyholders on maturity or otherwise

13,211 9,517 710 1,774 827 98 41 244

Any excess collection of the premium/tax or any other charges which is refundable to the policyholders either as terms of conditions of the policy or as may be directed by the Authority but not refunded so far

11,940 10,506 695 169 37 133 71 329

Cheques issued but not encashed by the policyholder/insured

471,198 79,411 66,593 146,203 93,000 45,727 19,631 20,633

Total 543,831 116,103 81,206 151,433 95,935 48,732 23,653 26,769

28 Disclosures relating to discontinued policies. IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010.

2013-14 2012-13

1. Amount refunded to the policyholders Nil Nil

2. Amount transferred to the “Funds for discontinued policies” 1,039,179 459,952

( Fund Value as on March 31, 14 )

3. Number of policies discontinued during the financial year 6,461 5,977

4. Percentage of discontinued to total policies during the year : -

Product wise -

K38 - Kotak Wealth Insurance 16.57% 17.32%

K40 - Kotak Headstart Child Assure 13.62% 15.42%

K41 - Kotak Secure Invest Insurance 16.80% 15.23%

K42 - Kotak Ace Investment 14.87% 16.27%

K44 - Kotak Platinum 12.63% 7.35%

K51 - Kotak Invest Maxima Plan 11.55% 1.78%

5. Policies revived during the year (w. r. t. Discontinued Policies) 5,061 4,564

No. of policies 10,837 13,032

% of policies revived 46.70% 35.02%

6. Charges imposed on account of discontinued policies 9,805 13,520

7. Charges readjusted on account of revival of discontinued policies (868) (4,596)




29 Prior year comparatives

Prior year amounts have not been reclassified except for the following in order to improve the disclosure and presentation of the accounts

Account Head Balance reported on March 31,2013

Reclassification Reclassified Balance as on

March 31, 2013

Remarks

Sch No Amount Amount

1. Schedule-4 Benefit Paid 4 Reclassification has been done to show annuities/pension payments for better disclosure

Other Benefits

- Survival Benefits 58,060 (620) 57,440

- Annuities/ Pension payment - 620 620

2. Form A-Revenue Account Reclassification has been done to show the correct balance under “Amount ceded in Reinsurance” for better disclosure

Change in valuation of liability in respect of life policies

(a) Gross 5,345,931 48,928 5,394,859

(b) Amount ceded in Reinsurance 35,182 (48,928) (13,746)

3. Current Liabilitities 13 Reclassification has been done to show Other payable separately for better disclosure

Unallocated premium (proposals/policy deposit)

559,908 (127,997) 431,911

Premium received in advance - 33,414 33,414

Unclaimed amount of policyholders 629,491 36,299 665,790

Others - Payable

- Refunds Payable - 58,284 58,284

4. Sundry creditors,Due to holding co and Others-payable

13 Reclassification has been done for better disclosure

Sundry creditors 82,572 (35,340) 47,232

Due to holding company / Fellow Subsidiary

4,004 30 4,034

Others - Payable

- Security Deposit - 35,310 35,310

5. Claims outstanding and Annuity Due

13 Reclassification has been done to show Annuity Dues separately for better disclosure Claims outstanding 294,547 (111) 294,436

Annuities due - 111 111





30 Employee benefits

(a) Gratuity

In accordance with Payment of Gratuity Act, 1972 the Company provides for gratuity, a defined benefit retirement plan covering all employees. The plan provides a lump sum payment to vested employees at retirement or termination of employment based on the respective employee’s salary and the years of employment with the Company subject to maximum of ` 10 lakhs per employee. The additional liability due to the enhancement of the limit to ` 10 lakhs per employee has been fully charged to Revenue/Profit & Loss account.

The gratuity benefit is provided to the employees through a fund administered by the Board of Trustees of Kotak Mahindra Old Mutual Life InsuranceEmployeesGratuityFund..Thecompanyisresponsibleforsettlingthegratuityobligationthroughcontributionstothefund.Theplan is fully funded.

Reconciliation of opening and closing balance of the present value of the defined benefit obligation for gratuity benefits is given below.

2014 2013

Change in Defined benefit obligations :

Liability at the beginning of the year 125,842 109,207

Transfer of liabilities funded during the year Nil Nil

Current service cost 31,914 26,371

Interest cost 12,474 11,579

Actuarial (gain)/loss on obligations (28,777) 1,904

Past Service Cost Nil Nil

Liabilities Assumed on transfer of employee (1,407) (583)

Benefits paid (18,416) (22,636)

Liability at the end of the year 121,630 125,842

Change in plan assets

Fair value of plan asset at the beginning of the year 127,041 Nil

Expectedreturnonplanassets 10,925 Nil

Contributions by the employer for the year 18,416 149,487

Actuarial (gain)/loss (5,800) 190

Benefits paid (18,416) (22,636)

Closing Fair Value of Plan assets 132,166 127,041

Closing Fair Value of Plan assets 132,166 127,041


Net Asset/ (Liabilities) disclosed under “Other Receivables in Sch-12 ” 10,536 1,199

Expenses recognised for the year :-



Expectedreturnonplanassets (10,925) Nil

Actuarial (gain)/loss (22,977) 1,715

Past Service Cost Nil

Net gratuity expenses included in “Employees’ remuneration & welfare benefits (Sch-3)

10,486 39,665

Reconciliation of the Liability recognised in the Balance Sheet

Net (Asset)/ Liability at the beginning of the year 125,842 109,207



Actuarial (gain)/loss on obligations (28,777) 1,904

Liabilities Assumed on transfer of employee (1,407) (583)

Benefits paid (18,416) (22,636)





2014 2013

Actuarial assumptions used

Discount rate (p.a.) 9.34% 8.24%

Expectedrateofreturnonassets(p.a.) 7.50% 7.50%

Salary escalation rate (p.a.) 8.50% 8.50%

Theestimatesoffuturesalaryincreases,consideredinactuarialvaluation,takeaccountofinflation,seniority,promotionandotherrelevantfactors such as supply and demand in the employment market.

(b) Superannuation

The eligible permanent employees of the Company, who have opted for the scheme, are entitled to receive retirement benefits under the superannuation scheme operated by the Company. The contribution for the year amounts to ` 1,750 (2013- ` 2,089)

(c) Provident fund

In accordance with Indian regulations, employees of the Company are entitled to receive benefits under the provident fund, a defined contribution plan, in which, both the employee and the Company contribute monthly at a determined rate. These contributions are made to government administered provident fund. The employee contributes 12% of his or her basic salary and the Company contributes an equal amount. The Company’s contribution for the year amounts to ` 112,978 (2013 - ` 110,634)

(d) Accumulated Compensated Absences

The Company accrues the liability for compensated absences based on the actuarial valuation as at the balance sheet conducted by an independent actuary.

(e) New Pension Scheme

The eligible employees of the Company, who have opted for the scheme, are entitled for this benefit. The Company’s contribution for the year amounts to ` 3,650/- (2013- ` 2,888 ).




Uday KotakChairman











Documents

Bigger. Bolder. Better. - Kotak Mahindra Bank Mahindra... · Bigger. Bolder. Better. Kotak Mahindra Old Mutual Life Insurance Limited. Annual eport 2013-14 1 Directors’ Report