Birla Insurance Group Feb · PDF fileMr. Parin Vora – Assistant Vice President -...

February 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

Source: Tradingeconomics

Economy Review

The Union Budget unveiled earlier in February had laid emphasis on rural & social spending, improving

consumption by reducing taxes and adhering to the fiscal consolidation path. Markets reacted positively to the

budget primarily due to its adherance to the fiscal consolidaiton path. However, RBI surprised in their monetary

policy review meet by changing their stance from “accommodative” to “neutral” signalling the end of the two year

easing cycle. RBI also kept the key rates unchanged in the monetary policy meeting.

Voting for the state of Punjab, Goa and Uttarakhand concluded in the month of February. Voting for Manipur will

be taking place in March. Five phases on voting has concluded in Uttar Pradesh in February and remaining two

phases will be taking place in March. Results for all the five states are to be announced on 11th March. These

elections are crucial for the ruling party at the centre as it is happening after demonetisation.

On the economy front, IIP for December-16 decreased to 0.4 per cent compared to 5.4 per cent in November-16.

Market gained momentum due to various positive announcements by companies in the month –

1. Commercial launch of Reliance Jio and its prime membership program

2. Share buyback announced by Tata Consultancy Services (TCS)

3. Buying by FIIs in to HDFC Bank post opening of limits by RBI

4. Better than expected corporate result for the third quarter of FY17

Domestic macro economic data was mixed.

Inflation (CPI) for January-2017 was recorded at 3.2 per cent, lower than 3.4 per cent for the month of December-

2016. This was the lowest in the last 5 years. The decrease in inflation was led by lower food prices.

Source: Tradingeconomics

Market Update

2

Outlook for Equities

Outlook for Debt

Sensex gained around 4% in the month of February. FIIs turned net buyers in the month. They bought

$1.5bn in the month. Domestic institutions remained net buyers for the month. They bought $98mn in

January.

At a 15.8 multiple of FY18 earnings, markets are trading below their 15 year average. Investors in equity

funds can expect significant gains in long-term with higher growth in corporate earnings.

The 10 year government bond yield moved from 6.43 per cent to 6.9 per cent in the month. The

correction in yields was primarily due to change of RBI's stance.

We expect the 10 year G-sec yield to be in the range of 6.75 per cent to 7 per cent in the near term. The

corporate bond yields are expected to maintain a spread of 50 to 70 basis points on the upward side.

28-Feb-17 31-Jan-17 % ChangeINDEX

Nifty

Sensex

BSE 100

Dow Jones

Hang Seng

Nikkei

Nasdaq

8879.60 8561.30 3.72%

28743.32 27655.96 3.93%

9190.73 8831.71 4.07%

20812.24 19864.09 4.77%

19118.99 19041.34 0.41%

23740.73 23360.78 1.63%

5825.44 5614.79 3.75%

NSEBSE

4000

5000

6000

7000

8000

9000

10000

22000

23000

24000

25000

26000

27000

28000

29000

30000

Jan-1

7

Feb-1

6

Feb-1

7

Mar-

16

Apr-

16

May-

16

Jun-1

6

Jul-16

Aug-1

6

Sep-1

6

Oct

-16

Nov-

16

Dec-

16

Key Indices

10 year G-Sec

5 Year G-Sec

91 Day T Bill

364 day T-Bill

Call Rates

31-Jan-17 % Change

6.87% 6.41% 6.70%

6.80% 6.52% 4.12%

6.10% 6.20% -1.64%

6.21% 6.17% 0.64%

5.94% 6.00% -1.01%

28-Feb-17

bps

5 year AAA Corporate Bond Spread

Pe

rce

nta

ge

(%)

15

40

65

90

115

140

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

Jan-1

7

Feb-1

6

Feb-1

7

Mar-

16

Apr-

16

May-

16

Jun-1

6

Jul-16

Aug-1

6

Sep-1

6

Oct

-16

Nov-

16

Dec-

16

.

23.7542

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 28th February 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

-0.60 -0.41

-0.57 0.27

2.29 2.58

15.80 13.53

7.24 6.60

11.56 10.26

9.83 8.78

9.74 8.68

10.64 8.50

0.30 0.44

1.03 1.77

2.48 2.39

19.29 16.21

6.50 5.57

12.49 10.72

10.74 9.30

10.41 8.98

13.01 9.77

0.66 0.44

1.58 1.77

3.21 2.39

20.74 16.21

7.73 5.57

12.78 10.72

11.72 9.30

11.21 8.98

12.01 9.64

1.42 1.30

3.15 3.29

3.20 2.17

23.65 18.90

6.15 4.49

13.71 11.13

11.85 9.77

11.22 9.25

14.39 10.94

1.97 1.30

4.18 3.29

3.91 2.17

24.94 18.90

7.38 4.49

14.47 11.13

12.64 9.77

12.44 9.25

13.41 10.10

2.03 1.88

4.22 4.31

3.36 2.02

25.94 20.70

5.56 3.75

14.50 11.38

12.62 10.06

11.85 9.40

12.41 6.41

0.53 0.44

1.76 1.27

3.61 2.72

7.64 6.20

7.80 6.50

8.10 6.98

8.32 7.24

8.62 7.38

9.19 6.64

0.51 0.44

1.63 1.27

3.35 2.72

7.64 6.20

7.64 6.50

8.17 6.98

8.37 7.24

8.58 7.38

8.64 7.43

-0.03 -0.15

0.85 0.38

3.50 3.23

8.63 8.33

8.06 7.62

8.59 8.22

8.49 8.01

8.95 8.07

8.77 7.49

0.35 -0.15

1.49 0.38

3.76 3.23

9.25 8.33

8.78 7.62

9.52 8.22

9.46 8.01

10.08 8.07

10.06 8.11

-2.54

-5.14

0.61

13.62

7.90

11.58

8.44

8.84

7.32

-0.98 -0.37

-0.80 0.19

3.16 3.50

10.58 9.99

8.39 7.91

9.83 9.34

8.98 8.37

9.56 8.49

10.55 8.29

-2.13 -1.43

-3.15 -1.54

1.88 2.80

11.71 9.77

7.90 7.84

10.60 9.52

9.35 7.99

9.88 8.17

8.92 6.39

-1.84 -1.43

-3.08 -1.54

1.94 2.80

11.65 9.77

8.33 7.84

10.76 9.52

8.94 7.99

9.37 8.17

9.56 7.67

-1.45 -1.43

-2.41 -1.54

3.00 2.80

12.56 9.77

9.61 7.84

12.93 9.52

11.39 7.99

11.40 8.17

11.64 8.36

Asset held as on 2 ` 1620.62 cr8th February 2017:

RATING PROFILE

AUM (In Cr) as on 28th February 2017

Exposure to equities has slightly decreased to 19.56% from 19.75% G-Secs has to 46.58% from 47.87% and MMI has increased to 10.39% from 8.70% on a MOM basis. Over 88% 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.

decreased

Modified Duration: 5.93 yearsNAV as on 28th February 2017: 48.9176`

Maturity Profile

ASSET ALLOCATION

MMI, : Deposits, CBLO & Others 10.39%

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 Tuesday, February 28, 2017

Maturity Profile

Date of Inception: 19-Jun-01

5

Secure BM

GOVERNMENT SECURITIES: 46.58%

9.2% Government Of India 2030 14.75%










Other Government Securities 7.10%

8.45% HDFC Ltd. 2026 1.91%

9% Godrej And Boyce Manufacturing

Company Limited 2021 1.59%

8.15% Tata Steel Ltd. 2026 1.48%

8.9% Steel Authority Of India Ltd. 2019 1.20%

8.57% REC. Ltd. 2024 1.00%

8.39% Power Finance Corpn. Ltd. 2025 0.96%

8.042% Bajaj Finance Ltd. 2021 0.93%

9.25% PGC Of India Ltd. 2019 0.88%

9.15% ICICI Bank Ltd. 2022 0.66%

9.25% Reliance Jio Infocomm

Limited 2024 0.65%

Other Corporate Debt 12.21%

HDFC Bank Ltd. 1.47%

ICICI Bank Ltd. 1.26%

ITC Ltd. 1.19%

Reliance Industries Ltd. 1.08%

Infosys Ltd. 1.07%

State Bank Of India 0.85%

Kotak Mahindra Bank Ltd. 0.77%

Larsen & Toubro Ltd. 0.74%

Maruti Suzuki India Ltd. 0.69%

HDFC Ltd. 0.68%

Other Equity 9.75%

EQUITY: 19.56%CORPORATE DEBT: 23.47%

AAA

21.03%

64.91%

Sovereign

2.38%AA+

AA9.43%

2.24%

A1+

0.01%A+

317.03

Equity

1303.60

Debt

11.49%

1.88%

2.82%

6.23%

7.01%

7.52%

7.62%

8.55%

9.11%

13.11%

23.99%

OTHERS

POWER

METAL

AUTOMOBILE

CAPITAL GOODS

FINANCIAL SERVICES

FMCG

PHARMACEUTICALS

SOFTWARE / IT

OIL AND GAS

BANKING

7 years & above2 to 7 years

Less than 2years

57.42%

26.83%

15.75%

G-Secs23.47%46.58%

Equities

19.56%

MMI, Deposits, CBLO & Others

NCD

10.39%

Feb

-10

Au

g-1

0

Feb

-11

Au

g-1

1

Feb

-12

Au

g-1

2

Feb

-13

Au

g-1

3

Feb

-14

Au

g-1

4

Feb

-15

Au

g-1

5

Feb

-16

Au

g-1

6

Feb

-17

Asset held as on 2 397.71 cr8th February 2017: `

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: 6.34 yearsNAV as on 28th February 2017: 66.5886 `

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





6

Date of Inception: 31-Aug-01

MMI, Deposits, CBLO & Others: 12.57%

ASSET ALLOCATION

Maturity Profile

Stable BM













8.65% REC Ltd. 2019 2.41%

8.9% LIC Housing Finance Ltd. 2020 1.30%

10.1% PGC Of India Ltd. 2017 1.27%



Limited 2024 0.98%

9.33% NABARD 2017 0.63%

8.95% Bajaj Finance Ltd. 2020 0.52%

8.95% HDFC Bank Ltd. 2022 0.36%

9.57% IRFC Ltd. 2021 0.35%

9.04% REC Ltd. 2019 0.26%




ITC Ltd. 2.14%


Infosys Ltd. 1.88%





HDFC Ltd. 1.20%

Other Equity 17.02%


NCD

34.22%

12.57%

Equities

43.20%G-Secs


10.01%

AAA17.65%

Sovereign81.18%

AA+

AA1.07%

0.10%


261.63

Debt

136.08

Equity

12.18%

1.88%

2.81%

6.24%

6.99%

7.49%

8.01%

8.33%

9.12%

13.09%

23.87%

OTHERS

POWER

METAL

AUTOMOBILE

CAPITAL GOODS

FINANCIAL SERVICES

FMCG

PHARMACEUTICALS

SOFTWARE / IT

OIL AND GAS

BANKING


Less than 2years

53.61%

25.51%

20.88%

Feb

-10

Au

g-1

0

Feb

-11

Au

g-1

1

Feb

-12

Au

g-1

2

Feb

-13

Au

g-1

3

Feb

-14

Au

g-1

4

Feb

-15

Au

g-1

5

Feb

-16

Au

g-1

6

Feb

-17


RATING PROFILE



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


ASSET ALLOCATION

Maturity Profile

Stable 2 BM







10.7% IRFC. Ltd. 2023 6.79% HDFC Bank Ltd. 2.25%

ITC Ltd. 2.13%



Infosys Ltd. 1.85%





HDFC Ltd. 1.09%

Other Equity 15.33%


NCD6.79%

31.82%

Equities

49.58%G-Secs


11.82%

Sovereign88.88%

AAA11.12%


1.17

Debt

0.55

Equity

11.50%

1.97%

2.95%

6.86%

7.09%

7.27%

7.84%

8.01%

9.40%

13.55%

23.54%

OTHERS

POWER

METAL

AUTOMOBILE

CAPITAL GOODS

FINANCIAL SERVICES

FMCG

PHARMACEUTICALS

SOFTWARE / IT

OIL AND GAS

BANKING


Less than 2years

62.07%

22.46%

15.47%

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7






9.53% State Government Of Gujrat 2024 2.16%










ITC Ltd. 3.06%


Infosys Ltd. 2.69%





HDFC Ltd. 1.71%

Other Equity 24.34%

RATING PROFILE



Modified Duration: 5.67 years

EQUITY: 49.08%

NAV as on 28th February 2017: 80.3815 `

CORPORATE DEBT: 12.58%

Maturity Profile

ASSET ALLOCATION


SECTORAL ALLOCATION



Group Growth Fund


Portfolio as on Tuesday, February 28, 2017Date of Inception: 31-Aug-01

Fund Manager: 17 years


Fund Snapshot

8

Growth BM

9.34% REC Ltd. 2024 1.98%



8.45% HDFC Ltd. 2026 1.61%

NABARD 2017 0.80%

9.02% REC Ltd. 2022 0.75%



10.3% Tata Motors Ltd. 2018 0.41%



G-Secs

30.94%

49.08%

Equities

NCD

7.40%

MMI, Deposits, CBLO & Others12.58%

AAA

27.97%

71.09%

Sovereign

AA+

0.94%

251.06

Debt260.51

Equity

12.02%

1.87%

2.79%

6.21%

7.32%

7.42%

7.95%

8.27%

9.07%

13.22%

23.85%

OTHERS

POWER

METAL

AUTOMOBILE

CAPITAL GOODS

FINANCIAL SERVICES

FMCG

PHARMACEUTICALS

SOFTWARE / IT

OIL AND GAS

BANKING


Less than 2years

42.70% 40.91%

16.39%

Feb

-10

Au

g-1

0

Feb

-11

Au

g-1

1

Feb

-12

Au

g-1

2

Feb

-13

Au

g-1

3

Feb

-14

Au

g-1

4

Feb

-15

Au

g-1

5

Feb

-16

Au

g-1

6

Feb

-17







9.04% REC Ltd. 2019 4.71%

9.15% Larsen & Toubro Ltd. 2019 4.67%

9.64% PGC Of India Ltd. 2018 4.65%

9.33% NABARD 2017 4.54%

8.4% NPC Of India Ltd. 2027 3.17%

9.74% Tata Sons Ltd. 2024 0.98%


ITC Ltd. 3.05%



Infosys Ltd. 2.69%





HDFC Ltd. 1.71%

Other Equity 23.24%

RATING PROFILE




EQUITY: 47.83%



Maturity Profile

ASSET ALLOCATION


SECTORAL ALLOCATION


Group Growth Fund 2




9



Growth 2 BM

G-Secs

22.71%

47.83%

Equities

16.22%


NCD

13.23%

Sovereign

48.78%

51.22%

AAA

17.36

Debt

15.92

Equity

10.68%

1.91%

2.84%

6.34%

7.48%

7.57%

8.24%

8.27%

9.26%

13.13%

24.28%

OTHERS

POWER

METAL

AUTOMOBILE

CAPITAL GOODS

FINANCIAL SERVICES

FMCG

PHARMACEUTICALS

SOFTWARE / IT

OIL AND GAS

BANKING


Less than 2years

31.69%

17.59%

50.72%

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7











ITC Ltd. 3.54%



Infosys Ltd. 3.21%





HDFC Ltd. 1.97%

Other Equity 29.15%

RATING PROFILE


96% 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: 57.73%



Maturity Profile

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

8.57% REC Ltd. 2024 2.04%

9.05% Petronet LNG Ltd. 2019 1.41%

11.95% HDFC Ltd. 2018 0.21%

57.73%

Equities

G-Secs

28.15% 3.66%

NCD


10.46%

Sovereign

89.91%

AAA6.20%

3.89%AA+

29.60

Equity

21.68

Debt12.74%

2.57%

2.72%

6.31%

7.10%

7.23%

7.92%

8.11%

9.24%

13.38%

22.68%

OTHERS

AUTO ANCILLIARY

METAL

AUTOMOBILE

CAPITAL GOODS

FINANCIAL SERVICES

FMCG

PHARMACEUTICALS

SOFTWARE / IT

OIL AND GAS

BANKING


Less than 2years

62.32%

14.33% 23.35%

Fe

b-1

0

Au

g-1

0

Fe

b-1

1

Au

g-1

1

Fe

b-1

2

Au

g-1

2

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7


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



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


Benchmark: Crisil Liquid Fund Index


11

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATION

Date of Inception: 30-Mar-05



89.94%

RATING PROFILE


AAA

A1+

12.46%

87.54%

MM BM

88.99

Debt


9.5% HDFC Ltd. 2017 3.97%8% Mahindra Vehicle ManufacturersLimited 2017 3.83%

9.5% HDFC Ltd. 2017 2.26%

10.06%

NCD


Feb-

10

Aug

-10

Feb-

11

Aug

-11

Feb-

12

Aug

-12

Feb-

13

Aug

-13

Feb-

14

Aug

-14

Feb-

15

Aug

-15

Feb-

16

Aug

-16

Feb-

17


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



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


Benchmark: Liquid Fund IndexCrisil


12

Maturity Profile

Less than 2 years

100.00%

ASSET ALLOCATION

RATING PROFILE

18.63%

A1+

Sovereign81.37%


Money Market 2 BM

48.74%

51.26%


G-Secs


0.28Debt


Government Of India 2017 51.26%

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7

Exposure to corporate debt has slightly decreased to

75.03% from 75.71% and MMI has slightly increased to

24.97% from 24.29% on a MOM basis. Over 89% of the

fund is invested in highest rated instruments.



MMI, Deposits, CBLO & Others 24.97%:

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 2 24.66 cr8th February 2017: ` Modified Duration: 2.60 years


13

Maturity Profile

ASSET ALLOCATION

Date of Inception: 10-Dec-08

Fund Manager: Parin Vora | Total Experience: 17 years


24.97%

NCD

75.03%

RATING PROFILE

AAA

89.43%

A+

10.57%

BMShort Term Debt


10.5% AU Financiers (India) Limited 2019 7.93%

9.15% Larsen & Toubro Ltd. 2019 7.56%

9.04% REC Ltd. 2019 6.36%

9.1% HDFC Bank Ltd. 2022 6.18%

9.9% HDFC Ltd. 2021 5.23%


8.84% PGC Of India Ltd. 2019 4.23%

8.9% Indiabulls Housing Finance Ltd 2021 4.06%

6.99% Ultratech Cement Ltd. 2021 3.96%



24.66Debt


Less than 2years

4.35%

75.20%

20.45%

Feb-

10

Aug

-10

Feb-

11

Aug

-11

Feb-

12

Aug

-12

Feb-

13

Aug

-13

Feb-

14

Aug

-14

Feb-

15

Aug

-15

Feb-

16

Aug

-16

Feb-

17

Exposure to corporate debt has decreased to 33.55% from 33.87% and MMI has slightly increased to 66.45% from 66.13% on a MOM basis. Over 100% of the fund is invested in highest rated instruments.

slightly



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 28 25.25 crth February 2017: ` Modified Duration: 0.74 years


14

Maturity Profile

ASSET ALLOCATION


33.55%


66.45%


RATING PROFILE

AAA

36.39%

A1+

48.83%

Sovereign

14.78%

BMShort Term Debt 2

NCD

8.58% HDFC Ltd. 2018 8.02%


9.25% PGC Of India Ltd. 2017 7.07%

9.33% NABARD 2017 3.99%

8.4% NPC Of India Ltd. 2027 3.34%

9.45% State Bank Of India 2026 1.69%

9.05% HDFC Ltd. 2018 1.21%

8.65% NTPC Ltd. 2019 0.41%


25.25Debt


Less than 2years

5.13% 7.97%

86.91%

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7


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



Benchmark: Crisil Composite Bond index & Crisil Liquid Fund IndexFund


Group Income Advantage Fund



Maturity Profile

ASSET ALLOCATIONRATING PROFILE













9.34% REC Ltd. 2024 8.13%

9.9% HDFC Ltd. 2021 5.73%

8.08% Tata Sons Ltd. 2026 5.32%


9.15% Export Import Bank Of India 2022 4.58%

8.65% India Infradebt Ltd 2026 4.33%


Limited 2024 3.39%

9.02% REC Ltd. 2022 2.96%

8.57% REC Ltd. 2024 2.24%

8.4% NPC Of India Ltd. 2027 1.13%



15

Date of Inception: 23-Mar-10


NCD

42.65%5.62%


51.74%G-Secs

54.81%

Sovereign

AAA

45.19%

Gr. Inc Adv BM


46.83Debt


Less than 2years

58.94%

38.11%

2.94%

Fe

b-1

2

Au

g-1

2

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7


Exposure to G-Secs has decreased to 74.40% from 83.50% and MMI has increased to 25.60% from 16.50% on a MOM basis.



Group Gilt Fund



Maturity Profile

ASSET ALLOCATION


RATING PROFILE

16

Sovereign100.00%

Date of Inception: 28-Apr-04














17.13Debt


25.60%

74.40%G-Secs


Less than 2years

65.80%

9.62% 24.58%


Exposure to corporate debt has decreased to 90.52% from 91.06% and MMI has increased to 9.48% from 8.94% on a MOM basis. Over 81% of the fund remains invested in highest rated instruments.

Modified Duration: 4.42 yearsNAV as on ` 28th February 2017: 28.8532

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




Limited 2024 5.13%

9.74% Tata Sons Ltd. 2024 4.98%

9.05% Petronet LNG Ltd. 2019 4.81%

9.5% HDFC Ltd. 2024 4.38%

8.54% NPC Of India Ltd. 2023 4.24%

Tata Sons Ltd. 2029 4.12%


8.57% REC Ltd. 2024 3.17%

9.15% ICICI Bank Ltd. 2022 3.01%

8.46% HDFC Ltd. 2026 2.92%



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

Maturity Profile


17

ASSET ALLOCATION

RATING PROFILE

Date of Inception: 28-Jan-07


8.12%AA

9.94%

AA+

AAA

81.48%

A+

0.46%

Gr. Bond BM


9.48%

90.52%NCD


247.56

Debt


Less than 2years

39.65% 50.44%

9.91%

Feb

-10

Au

g-1

0

Feb

-11

Au

g-1

1

Feb

-12

Au

g-1

2

Feb

-13

Au

g-1

3

Feb

-14

Au

g-1

4

Feb

-15

Au

g-1

5

Feb

-16

Au

g-1

6

Feb

-17

Asset held as on 2 1104.21 cr8th February 2017: ` Modified Duration: 6.35 yearsNAV as on ` 28th February 2017: 33.8879

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 1.93%


8.75% HDFC Ltd. 2021 4.58%


Limited 2024 2.76%

8.3% REC Ltd. 2025 2.33%


9.55% Hindalco Industries Ltd. 2022 2.19%

8.9% Indiabulls Housing

Finance Ltd 2021 1.72%

9.2% Cholamandalam Investment And

Finance Co. Ltd. 2019 1.51%

8.92% Tata Capital Financial

Services Limited 2026 1.36%

7.6% ICICI Bank Ltd. 2023 1.34%




Maturity Profile

ASSET ALLOCATION

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



18

RATING PROFILE

Date of Inception: 18-Nov-02


45.31%G-Secs


10.00%NCD

44.69%

Exposure to corporate debt has slightly increased to 44.69% from 44.59% G-Secs has decreased to 45.31% from 51.92% and MMI has increased to 10.00% from 3.49% on a MOM basis. Over 88% of the fund remains invested in highest rated instruments.

AA-3.64%5.13%

AA

AAA

37.61%

50.34%

Sovereign

2.03%AA+

FIF BM

1.24%A+


1104.21

Debt


Less than 2years

68.78%

23.32%

7.90%

Fe

b-1

0

Au

g-1

0

Fe

b-1

1

Au

g-1

1

Fe

b-1

2

Au

g-1

2

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7

Asset held as on 2 3.68 cr8th February 2017: ` Modified Duration: 5.84 yearsNAV as on ` 28th February 2017: 17.8393

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





8.99% Tata Capital Financial Services

Limited 2017 2.73%


Maturity Profile

ASSET ALLOCATION

Benchmark: Crisil Composite Bond index & Crisil Liquid Fund IndexFund



19

RATING PROFILE


Exposure to corporate debt has slightly increased to 2.73% from 2.66% G-Secs has slightly increased to 93.72% from 93.44% and MMI has slightly decreased to 3.56% from 3.90% on a MOM basis. Over 97% of the fund remains invested in highest rated instruments.

AA+

2.83%

97.17%

Sovereign

93.72%G-Secs


3.56%NCD

2.73%

FIF 2 BM


3.68Debt

7 years & above

Less than 2 years

97.03%

2.97%

Fe

b-1

3

Au

g-1

3

Fe

b-1

4

Au

g-1

4

Fe

b-1

5

Au

g-1

5

Fe

b-1

6

Au

g-1

6

Fe

b-1

7

Birla Insurance Group Feb · PDF fileMr. Parin Vora – Assistant Vice President -...

Documents

Transcript of Birla Insurance Group Feb · PDF fileMr. Parin Vora – Assistant Vice President -...