Birla Insurance Group · PDF fileGroup Growth Fund2 Group Growth ... strategy, nor does it ... Neither Birla Sun Life Insurance Company Limited, nor any person connected with it,

July 2017

Index

Secure Fund

Stable Fund

Stable Fund 2

Growth Fund

Growth Fund 2

Money Market Fund

Money Market Fund 2

Short Term Debt Fund 2

Short Term Debt Fund

Income Advantage Fund

Gilt Fund

Bond Fund

Fixed Interest Fund

Fixed Interest Fund 2

Pg 1

Pg 3

Pg 4

Pg 5

Pg 6

Pg 7

Pg 8

Pg 9

Pg 10

Pg 11

Pg 12

Pg 13

Pg 14

Pg 15

Pg 16

Pg 17

Pg 18

Pg 19

Growth Advantage Fund

Market Outlook

Fund Managers Profile

Fund Performance

Market Update

1

Economy Review

July 2017 was a key month in the history of Indian equity markets as Nifty crossed 10,000 levels for the first time in

the history aided by inflows from domestic investors.

The key events in the month were –

1. Domestic factors –

a. Implementation of GST – India's biggest tax reform, Goods and Services Tax (GST) replaced the

indirect tax structure from 1 July 2017. The bill was passed in the parliament in August and was ratified by

more than 50 per cent of states before being implemented.

b. Change of alliances in Bihar – Bihar Chief Minister resigned from his post due to differences with other

parties in the grand alliance on corruption issues. A day later, he tied up with the ruling party at centre to form

government in Bihar. This move makes the ruling party at centre, a part of 18 state governments which covers 70

per cent of country's population.

c. Monsoon update – As per data from Indian Met Department (IMD), rainfall has been 102% of long

period average (LPA). The rainfall has been well distributed barring very few pockets in southern India.

2. Global factors –

a. Strong US jobs data – The US economy created more jobs which have increased the possibility of one

more rate hike in the current year. Data showed that the non-farm payrolls jumped by 222,000 jobs in June,

beating expectations for a 179,000 gain.

Domestic macro economic data was mixed.

Inflation (CPI) for June-17 was recorded at 1.5 per cent, lower than 2.2 per cent for the month of May-17 and

lowest ever historically

On the economy front, IIP for May-17 grew by 1.7 per cent compared to 2.8 per cent in April-17.

Source: Tradingeconomics.com

Source: Tradingeconomics.com

Market Update

2

31-Jul-17 30-Jun-17 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

10077.10 9520.90 5.84%

32514.94 30921.61 5.15%

10432.76 9852.86 5.89%

21891.12 21349.63 2.54%

19925.18 20033.43 -0.54%

27323.99 25764.58 6.05%

6348.12 6140.42 3.38%

NSEBSE

31-Jul-17 30-Jun-17 % ChangeKey Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

Call Rates

6.47% 6.51% -0.62%

6.56% 6.61% -0.76%

6.13% 6.29% -2.61%

6.24% 6.36% -1.92%

5.88% 6.06% -3.06%

Perc

enta

ge(%

)

bps

4000

5000

6000

7000

8000

9000

10000

25000

26000

27000

28000

29000

30000

31000

32000

33000

Aug

-16

Sep

-16

Oct

-16

Nov

-16

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

5 year AAA Corporate Bond Spread

Au

g-1

6

Se

p-1

6

Oct-

16

No

v-1

6

De

c-1

6

Ja

n-1

7

Fe

b-1

7

Ma

r-1

7

Ap

r-1

7

Ma

y-1

7

Ju

n-1

7

Ju

l-1

7

15

40

65

90

115

140

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

Outlook for Equities

Outlook for Debt

Sensex gained around 4.8% in the month of July. FIIs remained buyers in July. They bought $393mn in the

month. Cumulative they are net buyers of $9.1bn in the current year. Domestic institutions remained net

buyers for the month. They bought $742mn in July taking their total YTD total to $4bn.

At a 17.7 multiple of FY19 earnings, markets are trading slightly higher than their 15 year average.

However, looking at the overall economic activates, investors in equity funds can expect significant gains

in long-term.

The 10 year government bond yield moved from 6.51 per cent to 6.47 per cent in the month.

We expect the 10 year G-sec yield to be in the range of 6.25 per cent to 6.5 per cent in the near term. The

corporate bond yields are expected to maintain a spread of around 80 basis points on the upward side.

Fund Managers Profile

Mr. Sameer Mistry

Mr. Sameer Mistry Joint Vice President Investments– -

Mr. Parin Vora – Assistant Vice President - Investments

3

Group Money Market Fund

Group Money Market Fund2

Group Short Term Debt Fund

Group Short Term Debt Fund 2

Group Income Advantage Fund

Group Gilt Fund

Group Bond Fund

Group Fixed Interest Fund

Group Fixed Interest Fund 2

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

ULGF00824/08/04BSLIGRMMKT109

ULGF01928/11/11BSLGRMMKT2109

ULGF01322/09/08BSLGSHTDBT109

ULGF02128/11/11BSLGSHTDB2109

ULGF01425/02/10BSLGINCADV109

ULGF00630/05/03BSLIGRGILT109

ULGF00530/05/03BSLIGRBOND109

ULGF00416/07/02BSLGFIXINT109

ULGF01728/11/11BSLGFXINT2109

Debt Fund SFIN No Fund Manager

Group Secure Fund

Group Stable Fund

Group Stable Fund 2

Group Growth Fund

Group Growth Fund2

Group Growth Advantage Fund

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Sameer Mistry

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

Mr. Parin Vora

ULGF00212/06/01BSLGSECURE109

ULGF00312/06/01BSLGSTABLE109

ULGF02228/11/11BSLGSTABL2109

ULGF00112/06/01BSLGGROWTH109

ULGF01828/11/11BSLGROWTH2109

ULGF01026/11/07BSLIGGRADV109

Balaced Fund SFIN NoEquity Debt

Fund Manager

Fund ManagerDebt Fund Balanced Fund Equity Fund

No. of Funds Managed

Mr. Parin Vora 9 6 -

Mr. Sameer Mistry - 6 -

Fund Performance as on 31st July 2017

Group Funds Figures in percentage (%)

Disclaimer:This document is issued by BSLI. While all reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. Past performance is not necessarily indicative of future performance. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Birla Sun Life Insurance Company Limited, nor any person connected with it, accepts any liability arising from the use of this document. You are advised to make your own independent judgment with respect to any matter contained herein. The investment risk in investment portfolio is borne by the policyholder. The name of the funds do not in any way indicate their quality, future prospects or returns. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions Insurance is the subject matter of solicitation.BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS: IRDA clarifies to public that IRDA or its officials do not involve inactivities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.* Duration for Money Market Instrument and FD’s is considered as "Zero".

4

Secure

Stable

Stable 2

Growth

Growth 2

Growth Advantage

Money Market

Money Market 2

Short Term Debt Fund

Short Term Debt 2

Income Advantage

Gilt Fund

Bond Fund

Fixed Interest

Fixed Interest 2

BSE 100

BSE 100

BSE 100

BSE 100

BSE 100

BSE 100

-

-

-

-

-

-

-

-

-

20%

35%

35%

50%

50%

60%

-

-

-

-

-

-

-

-

-

70%

55%

55%

40%

40%

30%

-

-

100%

100%

85%

-

70%

15%

85%

85%

10%

10%

10%

10%

10%

10%

100%

100%

-

-

15%

-

15%

15%

15%

Crisil

Crisil Liquid Fund Index







-

-


-




Liquid Fund Index ULGF00212/06/01BSLGSECURE109















Absolute

CAGR

Returns Period

Absolute

CAGR

Returns

SecureFund

BMStableFund

BMStableFund 2

BMGrowthFund

BMGrowthFund 2

BM

Growth Advantage

BMMoney

Market Fund BM

Money Market Fund 2

BM BM BM

Absolute

CAGR

Returns Period BMBMGilt FundFixed

Interest Fund 2BM

Fixed Interest Fund

Bond FundIncome

Advantage Fund BM

Period

Fund NameBenchmark Composition

SFINWeightage Weightage WeightageIndex Index Index

1.57 1.81

4.35 4.08

5.81 5.61

10.75 10.07

10.02 9.16

10.73 9.43

11.64 10.38

10.55 9.51

10.77 8.67

2.25 2.54

4.80 4.70

8.01 7.76

12.34 11.26

10.07 9.19

11.11 9.47

13.06 11.25

11.62 10.28

13.17 9.99

2.22 2.54

4.70 4.70

8.54 7.76

13.26 11.26

11.25 9.19

12.29 9.47

13.73 11.25

12.31 10.28

12.56 10.26

3.04 3.27

5.25 5.31

10.58 9.94

14.94 12.42

10.43 9.18

11.86 9.46

14.69 12.07

12.87 11.01

14.60 11.22

3.23 3.27

5.36 5.31

11.50 9.94

15.86 12.42

11.59 9.18

12.85 9.46

15.59 12.07

14.06 11.01

14.14 10.91

3.34 3.76

5.62 5.72

12.18 11.42

15.95 13.19

10.49 9.14

12.24 9.44

15.78 12.60

13.82 11.47

12.96 7.12

0.56 0.48

1.65 1.43

3.25 2.76

7.18 5.63

7.45 6.11

7.78 6.57

8.09 7.16

8.34 7.14

9.10 6.60

0.52 0.48

1.58 1.43

3.12 2.76

6.70 5.63

7.25 6.11

7.72 6.57

8.17 7.16

8.30 7.14

8.47 7.30

0.85 0.71

2.33 2.16

3.18 2.95

7.80 7.20

8.14 7.65

8.35 7.92

8.65 8.30

8.65 7.97

8.72 7.49

0.91 0.71

2.57 2.16

4.18 2.95

8.63 7.20

8.94 7.65

9.28 7.92

9.67 8.30

9.85 7.97

10.01 8.07

0.77

5.58

3.98

9.47

11.48

11.77

10.68

9.69

7.61

1.02 0.94

3.33 2.62

3.20 3.31

8.83 8.24

9.20 8.57

9.53 8.90

9.71 9.16

9.44 8.54

10.55 8.32

0.80 0.83

4.05 3.15

2.87 2.80

8.70 8.29

10.01 8.90

10.45 9.21

10.28 9.10

9.97 8.38

9.02 6.51

0.88 0.83

4.11 3.15

3.12 2.80

8.70 8.29

10.17 8.90

10.47 9.21

10.26 9.10

9.59 8.38

9.73 7.83

0.70 0.83

3.84 3.15

3.32 2.80

9.67 8.29

11.38 8.90

11.94 9.21

12.88 9.10

11.58 8.38

11.66 8.52

Asset held as on ` 1816.54 cr31st July 2017:

AUM (In Cr) as on 31st July 2017

Exposure to equities has decreased to 18.57% from 19.64% G-Secs has decreased to 43.20% from 44.40%and MMI has slightly decreased to 8.16% from 8.21% on a MOM basis. Over 89% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

Modified Duration: 5.83 yearsNAV as on : 52.071931st July 2017 `

MMI, : Deposits, CBLO & Others 8.16%

Objective:

Strategy:

This investment fund option helps build your capital and generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt.

To generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.

Fund Snapshot Know the Fund Better

Group Secure FundFund Manager: 17 years

Sameer Mistry (Equity) & Parin Vora (Debt) | Total Experience: 17 years &

ULGF00212/06/01BSLGSECURE109

Benchmark: BSE 100, Crisil Composite Bond Index & Crisil Liquid Fund IndexFund

SECTORAL ALLOCATION

Portfolio as on Monday, July 31, 2017Date of Inception: 19-Jun-01

Secure BM

GOVERNMENT SECURITIES: 43.20%

9.2% Government Of India 2030 13.45%










Other Government Securities 7.04%

8.45% HDFC Ltd. 2026 1.75%

9% Godrej And Boyce Manufacturing Company Limited 2021 1.43%

7.5% HDFC Ltd. 2020 1.39%

8.15% Tata Steel Ltd. 2026 1.38%

7.8% Apollo Tyres Ltd. 2024 1.10%

8.57% REC Ltd. 2024 0.91%

7.45% Tata Industries Ltd 2018 0.88%

8.39% Power Finance Corpn. Ltd.2025 0.87%

7.89% PGC Of India Ltd. 2027 0.86%

8.5% Indiabulls Housing Finance Ltd 2020 0.84%

Other Corporate Debt 18.64%

HDFC Bank Ltd. 1.64%

Reliance Industries Ltd. 1.03%

ITC Ltd. 0.98%

ICICI Bank Ltd. 0.95%

Infosys Ltd. 0.91%

HDFC Ltd. 0.77%

Maruti Suzuki India Ltd. 0.74%

Larsen & Toubro Ltd. 0.68%

Kotak Mahindra Bank Ltd. 0.64%

Mahindra And Mahindra Ltd. 0.60%

Other Equity 9.64%

EQUITY: 18.57%CORPORATE DEBT: 30.07%

ASSET ALLOCATION

RATING PROFILE

337.30 (19%)

Equity

1479.24 (81%)

Debt

5

MMI, Deposits, CBLO & Others

8.16%

G-Secs43.20%

Equities18.57%

30.07%NCD

1.19%A1+

0.01%A+

AAA

28.05%

AA+2.69%AA

8.80%

59.26%

Sovereign

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17

13.88%

2.63%

2.95%

6.23%

6.63%

7.63%

8.60%

9.05%

9.50%

10.33%

22.56%

OTHERS

CONSTRUCTION

TELECOMMUNICATION

PHARMACEUTICALS

FMCG

FINANCIAL SERVICES

AUTOMOBILE

SOFTWARE / IT

CAPITAL GOODS

OIL AND GAS

BANKING

Asset held as on 425.42 cr31st July 2017: `

RATING PROFILE

Over highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

95% of the debt portfolio remains invested in


SECTORAL ALLOCATION

Objective:

Strategy:

This investment fund option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. this fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities.

To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.


Group Stable FundFund Manager: 17 years




Portfolio as on Monday, July 31, 2017

6

Date of Inception: 31-Aug-01

MMI, Deposits, CBLO & Others: 13.80% ASSET ALLOCATION

Stable BM














8.65% REC Ltd. 2019 2.24%

7.89% PGC Of India Ltd. 2027 1.23%

8.9% LIC Housing Finance Ltd. 2020 1.23%


9.25% Reliance Jio Infocomm Limited 2024 0.93%

8.95% Bajaj Finance Ltd. 2020 0.49%

9.57% IRFC Ltd. 2021 0.33%

8.95% HDFC Bank Ltd. 2022 0.33%

8.46% HDFC Ltd. 2026 0.25%




ITC Ltd. 1.71%


Infosys Ltd. 1.61%

HDFC Ltd. 1.33%





Other Equity 16.95%



287.73 (68%)

Debt

137.69 (32%)

Equity

13.80%

MMI, Deposits, CBLO & Others NCD

11.28%

32.37%Equities

42.56%G-Secs

AAA15.71%

Sovereign79.47%

AA+AA4.72%

0.09%

13.65%

2.69%

2.92%

6.35%

6.82%

7.48%

8.49%

9.31%

9.63%

10.26%

22.41%

OTHERS

CONSTRUCTION

TELECOMMUNICATION

PHARMACEUTICALS

FMCG

FINANCIAL SERVICES

AUTOMOBILE

SOFTWARE / IT

CAPITAL GOODS

OIL AND GAS

BANKING

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17


RATING PROFILE

100% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.


SECTORAL ALLOCATION

Objective:

Strategy:

This investment fund option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. this fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities.

To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.


Group Stable Fund 2Fund Manager: 17 years





7

MMI, Deposits, CBLO & Others: 29.68% ASSET ALLOCATION

Stable 2 BM







10.7% IRFC Ltd. 2023 4.51% HDFC Bank Ltd. 2.92%



ITC Ltd. 1.75%

Infosys Ltd. 1.45%


HDFC Ltd. 1.28%



State Bank Of India 1.04%

Other Equity 16.78%


Sovereign92.77%

AAA7.23%


1.76 (68%)

Debt

0.85 (32%)

Equity

32.45%

Equities

33.36%G-Secs

NCD4.51%


29.68%

14.86%

2.64%

2.95%

5.34%

7.00%

7.26%

7.88%

8.23%

8.43%

10.94%

24.49%

OTHERS

CONSTRUCTION

METAL

PHARMACEUTICALS

FMCG

FINANCIAL SERVICES

AUTOMOBILE

CAPITAL GOODS

SOFTWARE / IT

OIL AND GAS

BANKING

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17






9.53% State Government Of Gujrat 2024 2.13%










ITC Ltd. 2.47%


Infosys Ltd. 2.39%

HDFC Ltd. 1.97%





Other Equity 24.72%

RATING PROFILE


Over 99% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.

Modified Duration: 5.73 years

EQUITY: 46.99%

NAV as on : 87.637731st July 2017 `

CORPORATE DEBT: 14.41%

MMI, Deposits, CBLO & Others: 5.35%

SECTORAL ALLOCATION



Group Growth Fund


Portfolio as on Monday, July 31, 2017Date of Inception: 31-Aug-01

Fund Manager: 17 years


Fund Snapshot

8

Growth BM

9.34% REC Ltd. 2024 1.97%

8.7% Power Finance Corpn. Ltd. 2020 1.67%

8.45% HDFC Ltd. 2026 1.62%


7.35% Bharat Petroleum Corpn.Ltd.2022 1.50%

7.89% PGC Of India Ltd. 2027 1.00%

NABARD 2017 0.80%

9.02% REC Ltd. 2022 0.74%




G-Secs

33.25%

NCD

5.35%

MMI, Deposits, CBLO & Others14.41%

46.99%Equities

ASSET ALLOCATION

AAA

28.97%

70.21%

Sovereign

AA+

0.82%

Debt277.06 (53%)

245.60 (47%)

Equity

13.28%

2.56%

2.76%

6.40%

7.16%

7.43%

8.48%

9.47%

9.91%

10.56%

21.98%

OTHERS

METAL

TELECOMMUNICATION

PHARMACEUTICALS

FMCG

FINANCIAL SERVICES

AUTOMOBILE

SOFTWARE / IT

CAPITAL GOODS

OIL AND GAS

BANKING

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17








9.04% REC Ltd. 2019 4.31%

9.15% Larsen & Toubro Ltd. 2019 4.26%

9.64% PGC Of India Ltd. 2018 4.23%

8.4% NPC Of India Ltd. 2027 3.01%

7.89% PGC Of India Ltd. 2027 2.88%

9.74% Tata Sons Ltd. 2024 0.91%



ITC Ltd. 2.44%


Infosys Ltd. 2.38%

HDFC Ltd. 1.99%





Other Equity 23.48%

RATING PROFILE


100% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.


EQUITY: 46.39%

NAV as on : 21.190931st July 2017 `


ASSET ALLOCATIONMMI, Deposits, CBLO & Others: 13.12%

SECTORAL ALLOCATION


Group Growth Fund 2




9



Growth 2 BM

19.45 (54%) Debt

16.83 (46%)

Equity

G-Secs

15.23%


13.12%25.27%

46.39%

Equities

NCD

Sovereign

43.76%

56.24%AAA

12.50%

2.44%

2.85%

5.99%

7.16%

7.85%

8.60%

9.27%

9.49%

10.33%

23.53%

OTHERS

METAL

TELECOMMUNICATION

PHARMACEUTICALS

FMCG

FINANCIAL SERVICES

AUTOMOBILE

SOFTWARE / IT

CAPITAL GOODS

OIL AND GAS

BANKING

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17












ITC Ltd. 2.93%

Infosys Ltd. 2.71%


HDFC Ltd. 2.15%





Other Equity 26.77%

RATING PROFILE


Over 97% of the debt portfolio remains invested in highest rated instruments.The fund is predominantly invested in large cap stocks and maintains a well diversified equity portfolio.


EQUITY: 52.76%

NAV as on : 31.648931st July 2017 `


ASSET ALLOCATION

SECTORAL ALLOCATION

Objective:

Strategy:

The Objective of the fund is to provide blend of fixed return by investing in debt &

money market instruments and capitalappreciation by predominantly investing in equities of

fundamentally strong and large blue chip companies.

The fund option will invest at least 40% and maximum of 60% in fundamentally strong

and large blue chip companies and minimum 40% in Debt and money market Instruments. The

Strategy of the fund is to build and actively manage a well-diversified equity portfolio of value &

growth driven stocks by following a research-focused investment approach. While appreciating the

high risk associated with equities, the fund would attempt to maximize the risk-return pay-off for the

long-term advantage of thepolicyholders. The fund will also explore the option of having exposure to

quality mid cap stocks. The Fund Manager would endeavor to outperform the benchmark. The non-

equity portion of the fund will be invested in highrated debt and money market instruments and fixed

deposits.

Fund SnapshotKnow the Fund Better

Group Growth Advantage Fund




10

Date of Inception: 18-Feb-08




Growth Advantage BM

7.89% PGC Of India Ltd. 2027 6.03%

8.57% REC Ltd. 2024 1.54%

9.05% Petronet LNG Ltd. 2019 1.05%

11.95% HDFC Ltd. 2018 0.15%

36.50 (53%)

Equity

32.69 (47%)

Debt

Equities


8.77%G-Secs21.34%

52.76%

17.12% NCD

Sovereign

77.75%

AAA19.60%

2.65%AA+

13.13%

2.59%

2.61%

6.24%

7.44%

7.51%

8.29%

9.20%

9.39%

10.78%

22.82%

OTHERS

CONSTRUCTION

TELECOMMUNICATION

PHARMACEUTICALS

FMCG

FINANCIAL SERVICES

AUTOMOBILE

SOFTWARE / IT

CAPITAL GOODS

OIL AND GAS

BANKING

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17


Over 84% of the fund is invested in highest rated instruments.The fund continues to maintain very low maturity profile.

NAV as on : 29.304931st July 2017 `


Group Money Market FundFund Manager: Parin Vora | Total Experience: 17 years


Benchmark: Crisil Liquid Fund Index


11

ASSET ALLOCATION

Date of Inception: 30-Mar-05


RATING PROFILE


MM BM

123.48 (100%)

Debt



NABARD 2018 5.36%


8.9% Steel Authority Of India Ltd. 2019 4.05%

9.4% Vedanta Limited 2022 3.25%




9.5% HDFC Ltd. 2017 2.19%

9.65% Cholamandalam Investment And Finance Co. Ltd. 2018 1.65%


Government Of India 2018 6.18%







45.29%

16.18%38.54%

NCDG-Secs

A1+

31.42%

Sovereign

AA+AA

25.00%

27.43%

5.72%10.43%AAA

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17


100% of the fund is invested in highest rated instruments.The fund continues to maintain very low maturity profile.

NAV as on : 15.866131st July 2017 `


Group Money Market Fund 2Fund Manager: Parin Vora | Total Experience: 17 years


Benchmark: Liquid Fund IndexCrisil


12

ASSET ALLOCATION

RATING PROFILE


Money Market 2 BM


0.29 (100%)Debt






2.89%


97.11%G-Secs

Sovereign100.00%


Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17

Exposure to Corporate Debt has to 86.78%

from 82.64% and MMI has decreased to 13.22% from

17.36% on a MOM basis. Over 79% of the fund is

invested in highest rated instruments.

increased


NAV as on : 20.600731st July 2017 `

MMI, Deposits, CBLO & Others 13.22%:

Benchmark: Short Term Bond Fund IndexCrisil

Objective:

Strategy:

This BSLI fund option helps to provide capital preservation at a high level of

safety & liquidity through judicious investments in high quality short-term debt instruments.

To actively manage the fund by building a portfolio of fixed income instruments with

short-term duration. The quality & duration of the assets purchased would aim to minimize the

credit risk &liquidity risk of the portfolio. Fund will maintain reasonable level of liquidity.



Asset held as on 25.02 cr31st July 2017: ` Modified Duration: 2.00 years


13

ASSET ALLOCATION

Date of Inception: 10-Dec-08

Fund Manager: Parin Vora | Total Experience: 17 years

RATING PROFILE

BMShort Term Debt

8.68% National Capital Region Planning Board 2020 9.20%


7.55% Tube Investments Of India Ltd.2020 8.01%

10.5% AU Small Finance Bank Ltd 2019 7.82%

9.15% Larsen & Toubro Ltd. 2019 7.41%

9.04% REC Ltd. 2019 6.25%

9.1% HDFC Bank Ltd. 2022 5.64%

9.9% HDFC Ltd. 2021 5.19%


8.84% PGC 2019 4.16%



25.02 (100%)Debt

NCD

86.78%


13.22%

AAA

74.84%

A1+

A+9.02%

AA

11.54%4.61%

Jul-1

0

Jan-

11

Jul-1

1

Jan-

12

Jul-1

2

Jan-

13

Jul-1

3

Jan-

14

Jul-1

4

Jan-

15

Jul-1

5

Jan-

16

Jul-1

6

Jan-

17

Jul-1

7

Exposure to Corporate Debt has increased to 74.62% from 71.20% and MMI has to 25.38% from 28.80% on a MOM basis. Over 77% of the fund is invested in highest rated instruments.

decreased

NAV as on : 17.184231st July 2017 `


Benchmark: Short Term Bond Fund IndexCrisil

Objective:

Strategy:

This BSLI fund option helps to provide capital preservation at a high level of safety

& liquidity through judicious investments in high quality short-term debt instruments.

To actively manage the fund by building a portfolio of fixed income instruments with

short-term duration. The quality & duration of the assets purchased would aim to minimize the

credit risk &liquidity risk of the portfolio. Fund will maintain reasonable level of liquidity.


Group Short Term Debt Fund 2


Asset held as on 26.12 cr31st July 2017: ` Modified Duration: 1.79 years


14

ASSET ALLOCATION



RATING PROFILE

BMShort Term Debt 2

7.35% Bharat Petroleum Corpn. Ltd. 2022 8.96%

7.9% Nirma Ltd. 2020 8.89%

8.12% ONGC Mangalore Petrochemicals Limited 2019 7.79%

8.58% HDFC Ltd. 2018 7.74%

7.55% Tube Investments Of India Ltd. 2020 7.68%


9.25% PGC Of India Ltd. 2017 6.76%

7.48% Gruh Finance Ltd. 2019 5.78%


8.4% NPC Of India Ltd. 2027 3.34%



26.12 (100%)Debt

MMI, Deposits, CBLO & Others:25.38%

74.62%NCD

25.38%


AAA

23.15%16.61%

A1+AA

60.23%

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17


100% of the fund remains invested in highest rated instruments.



Benchmark: Crisil Composite Bond index & Crisil Liquid Fund IndexFund


Group Income Advantage Fund



ASSET ALLOCATIONRATING PROFILE













9.9% HDFC Ltd. 2021 6.17%

8.08% Tata Sons Ltd. 2026 5.82%


9.15% Export Import Bank Of India 2022 4.94%

8.65% India Infradebt Ltd 2026 4.78%

9.34% REC Ltd. 2024 3.79%


9.02% REC Ltd. 2022 3.20%

8.57% REC Ltd. 2024 2.43%

8.4% NPC Of India Ltd. 2027 1.24%



15

Date of Inception: 23-Mar-10


Gr. Inc Adv BM


43.88 (100%)Debt

55.57%

Sovereign

AAA

44.33%NCD

41.33% 6.98%


51.69%G-Secs

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17


Exposure to G-Secs has decreased to 94.59% from 95.08 and MMI has increased to 5.41% from 4.92 on a MOM basis.

% %



Group Gilt Fund



Maturity Profile

ASSET ALLOCATION


RATING PROFILE

16

Date of Inception: 28-Apr-04















23.78 (100%)Debt

Sovereign100.00%


5.41%

94.59%G-Secs


Exposure to Corporate Debt has decreased to 84.74% from 90.17% and MMI has increased to 15.26% from 9.83% on a MOM basis. Over 82% of the fund remains invested in highest rated instruments.

Modified Duration: 4.03 yearsNAV as on ` 31st July 2017: 30.0727

Objective:

Strategy:

The investment fund option aims to achieve capital preservation along

with stable returns by investing in corporate bonds over medium-term period.

The fund follows a strategy to invest in high credit rated corporate bonds,

maintaining a short-term duration of the portfolio at a medium level of risk to achieve

capital conservation.


Group Bond Fund




9.74% Tata Sons Ltd. 2024 3.97%


9.5% HDFC Ltd. 2024 3.51%

Tata Sons Ltd. 2029 3.50%

8.54% NPC Of India Ltd. 2023 3.38%

8.6% India Infradebt Ltd 2021 3.31%

7.89% Can Fin Homes Ltd. 2022 3.21%

7.55% Tube Investments Of India Ltd.2020 3.17%



Benchmark: AAA Medium Term Bond Index, AA Medium Term Bond Index & Liquid Fund IndexCrisil Crisil Crisil


17

ASSET ALLOCATIONRATING PROFILE

Date of Inception: 28-Jan-07


Gr. Bond BM


315.75 (100%)

Debt



15.26%

84.74%NCD

11.35%AA

6.27%

AA+

AAA

80.25%

A+

Sovereign

0.38%

1.75%

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17

Asset held as on 1138.84 cr31st July 2017: ` Modified Duration: 5.90 yearsNAV as on ` 31st July 2017: 35.6171

Objective:

Strategy:

The investment fund option with full exposure in debt market instrument,

aims to achieve value creation at low risk over along-term horizon by investing into

high quality fixed interest securities.

Active fund management at a medium level of risk by having entire

exposure to government securities, corporate bonds maintaining medium to long-

termduration of the portfolio to achieve capital conservation.


Group Fixed Interest Fund











8.67% State Government Of Maharashtra 2026 1.91%



8.75% HDFC Ltd. 2021 4.48%


8.3% REC Ltd. 2025 2.32%


9.55% Hindalco Industries Ltd. 2022 2.17%


8.9% Indiabulls Housing Finance Ltd 2021 1.72%

9.2% Cholamandalam Investment And Finance Co. Ltd. 2019 1.46%

8.92% Tata Capital Financial Services Limited 2026 1.35%

7.89% Can Fin Homes Ltd. 2022 1.34%


CORPORATE DEBT: 49.88% ASSET ALLOCATION

Benchmark: Crisil Composite Bond Fund index & Crisil Liquid Fund Index



18

RATING PROFILE

Date of Inception: 18-Nov-02


Exposure to Corporate Debt has decreased to 49.88% from 49.91% G-Secs has slightly decreased to 42.68% from 42.79% and MMI has slightly increased to 7.44% from 7.29% on a MOM basis. Over 86% of the fund remains invested in highest rated instruments.

slightly


1138.84 (100%)

Debt

BMFixed Interest

49.88%

G-Secs


7.44%

NCD

42.68%

3.36%9.69%AAAAA

39.66%

46.11%

Sovereign

1.17%

AA+

A+

Jul-

10

Jan

-11

Jul-

11

Jan

-12

Jul-

12

Jan

-13

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17

Asset held as on 3.79 cr31st July 2017: ` Modified Duration: 5.57 yearsNAV as on ` 31st July 2017: 18.7039

Objective:

Strategy:

The investment fund option with full exposure in debt market instrument,

aims to achieve value creation at low risk over along-term horizon by investing into

high quality fixed interest securities.

Active fund management at a medium level of risk by having entire

exposure to government securities, corporate bonds maintaining medium to long-

term duration of the portfolio to achieve capital conservation.


Group Fixed Interest Fund 2





ASSET ALLOCATION

Benchmark: Crisil Composite Bond index & Crisil Liquid Fund IndexFund


19

RATING PROFILE


G-Secs has decreased to 92.59% from and MMI has increased to 7.41% from on a MOM basis. 100% of the fund remains invested in highest rated instruments.

93.11%6.89%

FIF 2 BM


3.79 (100%)Debt


92.59%G-Secs


7.41%

Sovereign100.00%

Jul-

13

Jan

-14

Jul-

14

Jan

-15

Jul-

15

Jan

-16

Jul-

16

Jan

-17

Jul-

17

Documents

Birla Insurance Group · PDF fileGroup Growth Fund2 Group Growth ... strategy, nor does it ... Neither Birla Sun Life Insurance Company Limited, nor any person connected with it,