invveestar - sud life attachment/investar fact sheet...from the second half of fy’2010-11, iip...

Inv

May

ve

Fa– 201

eSTact11

TAt ShR

heeet

Global Economic Scenario: While Japanese industrial output has sharply declined, worries of slow-down in US and sovereign debt problems in PIIGS (Portugal, Italy, Ireland, Greece and Spain) countries have re-emerged in May’2011. Drop in Japan’s exports by 12.5% (YoY) and increase in imports by 8.9% (YoY) in April, due to disrupted factory production, has pulled the country’s trade balance to(US $5.6 bn.).

Following deceleration in GDP growth rate for the quarter ended March’2011, unemployment rate in US during May’2011 has increased sharply (to 9.1%), apparently putting pressure on consumer spending and fall in the home Sales. Worry of slow down has triggered correction in US equity markets and drop in Bond yields. With QE2 (Quantitative Easing) ending in June, expectations of a fresh QE3 are building up, though many economists believe otherwise.

After approval of bail-out package to Portugal (Euro-78 bn.), European Union and the IMF are considering next tranche of 110bn euro ($159bn) bail-out package and ‘Debt Re-profiling’ for Greece, while the Rating Agencies have down-graded Greek Debt to Junk Status leading to sharp increase in Bond yields (with two-year Greek bonds trading at yields as high as 25%). S & P has cut outlook for Italy from stable to Negative while Portuguese rating has been cut several times since the Socialist minority government collapsed last month, after failing to pass a new round of cutbacks. Moody's warned that the UK was at risk of losing its AAA rating, if growth remains weak and government fails to meet its budget deficit reduction targets.

Indian Economy: GDP Growth As per the revised CSO estimates, Real GDP for FY’11 (at factor cost and constant prices-2004-05)

expanded by 8.5% YoY (slightly lower than the previous official estimate of 8.6% YoY). For FY’11 agriculture (weight-14.4%), Industry (weight-27.9%) and services (weight-57.7%) have registered growth rates of 6.6%, 7.9% and 9.7% respectively.

While the annual GDP growth rate over the last 3 years has shown increasing trend, on quarterly basis it has assumed declining trend mainly due to drop in the growth rate from Industry segment. Slow-down in growth of Industry segment in Q4’2011 to 6.1% was mainly impacted by slow growth in Mining, Querying and Manufacturing sectors.

4Q10 1Q11 2Q11 3Q11 4Q11

Agriculture 1.1% 2.4% 5.4% 9.9% 7.5%

Industry 12.4% 10.2% 8.4% 7.1% 6.1%

Services 10.2% 10.6% 9.9% 8.4% 8.7%

Overall 9.4% 9.3% 8.9% 8.3% 7.8% Growth in Agriculture segment, to some extent, is making-up for the slow-down in Industry. Services sector is maintaining a reasonable growth, though marginally lower than in the previous quarters. In

MONTHLY REPORT –MAY’2011 UPDATE OF ECONOMY AND FINANCIAL MARKETS

Q4’2011, within the services segment, Financing, Insurance, Real Estate & Business Services has witnessed some slow-down. Industrial Production (IIP) From the second half of FY’2010-11, IIP growth rate has started decelerating.

However, after a subdued growth for the last 4 months, IIP growth during March’ 2011 has improved to 7.3% as against 3.7% recorded in February 2011.

User- Based Segmental Growth (YoY)

Basic Goods

Capital Goods

Intermediate Goods

Consumer Goods

Aggregate

Mar-11 4.3% 12.9% 5.4% 7.7% 7.3% Feb-11 6.0% - 18.2% 8.6% 11.7% 3.7% Jan-10 7.6% -18.8% 8.3% 11.9% 3.9% April-Mar-10 6.3% 9.3% 8.8% 7.5% 7.8%

In March’2011, except Capital Goods all the segments (Consumer Goods, Basic Goods and Intermediate Goods) have witnessed slow down as compared to the previous months. IIP growth was pulled up by Capital Goods segment which registered positive growth after contracting in the previous 4 months. However, data for the ensuing months needs to be seen to assess conclusive turn-around in Capex cycle.

Inflation (Based on WPI) For Month-ended Y o Y % Increase April’2011 8.66 March’ 2011 9.02 WPI inflation continues to be well above RBI’s comfort level and to curb Inflationary expectations, RBI hiked policy rates hike by 50 bps in the last monetary policy review and further hikes, though detrimental for economic growth rate, cannot be ruled out. Monsoon Spread of monsoon is a key factor for the expansion of economy of the country and containment of food inflation. South-West Monsoon has arrived before time and the initial forecast of IMD suggests a normal monsoon. Institutional Flows

FII Flows (Rs. Crore) April’11 May’11 Total in CY 2011 Up to 31.05.11 Equity 7,213 -6,614 -1,902 Debt -17 2,338 13,799 Total 7,196 -4,276 11,897

Mutual Funds Flow (Rs. Crore) April’11 May’11 Total in CY 2011 Up to 31.05.11 Equity -271 435 2,569 Debt 66,002 -4,172 156,317 Total 65,732 -3,737 158,886

US$ Vs.INR: After fall in April’2011, US$ strengthened against Rupee in May’2011 to close at about Rs.45.05 (for 1 US$), as against corresponding Rs 44.20 and Rs.44.59 as at the end of April and Mar’2011 respectively. Strengthening US Dollar against Euro during May’2011 has given rise to sharp correction in the US$ denominated commodities (with exception of Gold). During the month, global Silver price corrected by about 21%; Crude Oil by 8%; Aluminum by 6%; and copper by 2%. Debt Markets: During the month, liquidity in the system was tight as compared to the previous month but going forward, advance tax outflows may further tighten

liquidity position. Call Money rates during the month by and large remained close to the Repo rate (7.25%) Bond Yields continued to harden during the month on the back of fragile demand and mounting supply of G-Sec as well as Corporate Bonds. With concern over inflation, high crude oil price and expectation of continued policy rate hike by RBI, G-Sec yields increased almost in a parallel shift across the yield curve. As at May end, 10 Year benchmark yield increased to 8.48 % from 8.22% as at April end.

Going forward, Bond yields are expected to have upward bias, if policy rate hikes continues. Stock Market:

While markets were cautious with concerns over high inflation, elevated crude prices and slow-down in economic growth, margin compression and slow-down in earnings growth witnessed in Q4 results, added to the bearish sentiments and the market continued its downward trend in May’2011. Slow down in global economies and renewed debt problems in Europe triggered correction in Global markets, which till April’2011 were in bullish mode. During May’2011, FIIs pulled out over Rs. 6,600 cr and the benchmark indices (Nifty & Sensex) lost about 3.3%. So far in the calendar year, these indices have lost about 10%. Amongst major sectoral indices, FMCG, Healthcare, Durables and Capital goods sectors gained over the levels of previous month (between 0.4% and 2.7%) and Auto, Metals, Bankex Power & IT indices lost over the levels of previous month (between 2.4% and 6.6%). Corporate results declared so far are mixed bag with earnings growth being relatively lower as compared to the previous year and signs of pressure on operating margins are visible. Increasing input costs and interest rates are perceived to be detrimental

for maintaining operating margins and earnings growth. At current levels, markets appear to be fairly priced and offer attractive returns over medium to long term. In the immediate future, onset and spread of monsoons would have a bearing on the direction of the markets.

Equity Indices Sensex Nifty Close as on 29.04.11 19,136 5,750 Close as on 31.05.11 18,503 5,560

Change during Period -3.3% -3.3%

Performance Summary as on May 31, 2011

Since

NAV Returns

InveSTAR

6 Months 1 Year 2 Year Since

Inception

Equity Fund 25/02/2009 92.83 19.74 ‐6.40% 8.66% 11.64% 34.85%

Growth Fund * 25/02/2009 70.71 17.91 ‐4.47% 6.81% 10.34% 29.09%

Balanced Fund 18/02/2009 53.56 13.75 ‐1.96% 3.09% 7.39% 14.97%

Bond Fund 25/02/2009 21.52 11.12 1.03% 2.59% 4.25% 5.03%

Individual Pension Fund ‐ Equity 31/03/2009 68.63 16.56 ‐6.25% 8.57% 12.45% 26.19%

Scheme Name Inception date AUM (Rs. Cr) NAV (Rs.)

Absolute CAGR

Individual

Life @

Individual Pension Fund ‐ Growth 31/03/2009 73.43 15.07 ‐4.24% 5.84% 9.83% 20.84%

Individual Pension Fund ‐ Balanced 31/03/2009 46.21 13.08 ‐1.38% 3.88% 8.17% 13.20%

Individual Pension Fund ‐ Bond 31/03/2009 11.46 11.07 0.76% 2.56% 4.46% 4.82%

Apex Equity Fund 20/01/2010 208.30 10.77 ‐6.25% 10.32% N.A 5.64%

Apex Growth Fund 20/01/2010 184.53 10.75 ‐4.22% 9.48% N.A 5.50%

Apex Balanced Fund 20/01/2010 106.38 10.80 ‐2.62% 7.05% N.A 5.82%

Apex Bond Fund 20/01/2010 19.32 10.61 1.19% 2.96% N.A 4.46%

Individual

Apex $

Pension Life

@@

Individual Pension Fund ‐ Apex Equity 20/01/2010 93.66 10.60 ‐6.39% 9.25% N.A 4.36%

Individual Pension Fund ‐ Apex Growth 20/01/2010 101.03 10.46 ‐5.04% 6.48% N.A 3.40%

Individual Pension Fund ‐ Apex Balanced 20/01/2010 45.78 10.52 ‐3.04% 5.42% N.A 3.81%

Individual Pension Fund ‐ Apex Bond 20/01/2010 14.62 10.60 1.03% 2.71% N.A 4.35%Individual

Life * Express Balanced Fund 29/04/2011 0.62 10.13 N.A N.A N.A # 1.26%

Pension

Apex $$

@ For Dhan Suraksha, Dhan Suraksha Premium, Prabhat Tara Products # Absolute return

@@ For Dhruv Tara Products

$ For New Dhan Suraksha, New Dhan Suraksha Premium, New Prabhat Tara,

Dhan Suraksha 3, Dhan Suraksha Premium 3 Products.

$$ For New Dhruv Tara Products* For Dhan Suraksha Express

Investment Objective:

Date of Inception :

February 25, 2009

Portfolio % to AUM

`

Equity 90.85% Minimum Maximum

Reliance Industries Ltd 6.07% 80% 100% 90.85%

ITC Ltd. 5.90% 0% 20% 9.15%

Larsen & Toubro Limited 5.85%

State Bank of India 4.77%

Infosys Technologies Ltd. 4.64%

Tata Consultancy Services Limited 4.30%

Housing Development Finance Corporation Ltd. 3.72%

Bharat Heavy Electricals Ltd 3.32%

Dr. Reddys Laboratories Ltd. 2.89%

ICICI Bank Ltd 2.54%

Sterlite Industries ( India ) Limited 2.33%

Crompton Greaves Ltd 2.31%

GAIL (India) Limited 2.14%

Mahindra & Mahindra Ltd. 2.13%

Tata Motors Limited 2.12%

Grasim Industries Ltd. 2.09%

Cipla Ltd. 2.04%

Hindustan Unilever Limited 2.03%

Hindalco Industries Ltd. 1.99%

Bajaj Auto Limited 1.83%

Oil & Natural Gas Corpn Ltd 1.69%

Sun Pharmaceuticals Industries Ltd 1.69%

CRISIL Liquid Fund Index ‐ 10%

To tap growth opportunities for long term capital appreciation through investments primarily in equity

and equity‐related instruments.

Investment PatternActual

Asset Mix

Particulars

Equity

MM & Others

EQUITY FUND - MAY, 2011

Benchmark :

S & P CNX Nifty ‐ 90%

Equity90.85%

MM & Others9.15%

Asset Allocation (% to AUM)

NAV Performance (Since Inception)Ranbaxy Laboratories Ltd 1.58%

HCL Technologies Ltd 1.56%

Aditya Birla Nuvo Limited 1.52%

NTPC Limited 1.50%

Tata Steel Limited 1.47%

Axis Bank Limited 1.31%

HDFC Bank Ltd 1.31%

The Indian Hotels Company Limited 1.27%

Godrej Consumer Products Limited 1.26%

Colgate Palmolive (India) Ltd 1.25%

Bharat Petroleum Corpn. Ltd 1.23%

Limited 1.10%

Power Grid Corporation of India Limited 1.03%

Hindustan Petroleum Corporation Ltd. 1.02%Others (with < 1% exposure) 4.07%

MM & Others 9.15%

Total 100.00%

`

10.83%

10.50%

8.32%

8.19%

6.46%

5.90%

3.72%

3.50%

3.29%

Banking Services

Computer software

Refinery

Drugs & pharmaceuticals

Industrial Construction

Tobacco products

Housing Finance Services

Prime movers

Cosmetics, toiletries, soaps & d t t

Top 10 Industry Exposure (% to AUM)

9

11

13

15

17

19

21

23

25

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

NAV/U

NIT (Rs)

NAV Performance (Since Inception)

Equity Fund Benchmark

2.61%

& detergents

Crude oil & natural gas

Investment Objective :

Date of Inception :

February 25, 2009

Portfolio % to AUM

`



ITC Ltd. 4.55% 0% 60% 37.68%













Ranbaxy Laboratories Ltd 1.54%

HDFC Bank Ltd 1.53%









Benchmark :


CRISIL Composite Bond Index ‐ 30%

To aim for medium to long term capital appreciation by maintaining a diversified portfolio of equity and

equity related instruments and fair exposure to high credit quality portfolio of debt and money market

instruments.


Asset Mix

Particulars

Equity

Debt, MM & Others

GROWTH FUND - MAY, 2011

Debt26.42%

Equity62.32%

MM & Others11.26%


Gilt6.87%AA

0.29%AA+4.94%

Debt Rating Profile (% of Debt)


NTPC Limited 1.10%

Coal India Limited 1.10%

Others (with < 1% exposure) 8.77%

Debt 26.42%

Gilts & SDL 1.82%GOI 1.82%

Corporate Bonds 24.61%

Power Finance Corporation Limited 3.70%


Reliance Capital Limited 1.70%

Indian Oil Corporation Ltd 1.68%

The Great Eastern Shipping Co. Limited 1.61%

Steel Authority of India Ltd. 1.44%

National Housing Bank 1.37%

Reliance Gas Transportation Infrastucture Limited 1.26%

Reliance Industries Ltd 1.17%



MM & Others 11.26%

Total 100.00%

`

8.66%

8.08%

7.95%

6.66%

5.39%

5.30%

4.55%

Computer software

Refinery

Banking Services

Infrastructure finance services



Tobacco products

Top 10 Industry Exposure ( % to AUM)

< 1 year 1‐3 years 3‐5 years 5‐10 years > 10 years

0.21%

32.63% 32.41% 33.27%

1.47%

Debt Maturity Profile ( % of Debt)

AAA87.90%

10

11

12

13

14

15

16

17

18

19

20

NAV/U

NIT (R

s)


Growth Fund Benchmark

4.51%

3.08%

3.01%


Cement

LNG storage & distribution

9

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

February 18, 2009

Portfolio % to AUM

`



Infosys Technologies Ltd. 2.50% 40% 100% 72.39%

ITC Ltd. 2.29%








Debt 62.14%

Gilts & SDL 6.47%

GOI 5.39%

SDL (with < 1% exposure) 1.08%


Housing Development Finance Corporation Ltd. 5.68%Power Finance Corporation Limited 5.64%Reliance Capital Limited 4.13%Steel Authority of India Ltd. 3.55%

BALANCED FUND - MAY, 2011

To aim for stable returns over medium to long term through investments in high quality fixed income

and money market instruments and enhance returns through a fair exposure to equity investments.


Asset Mix

Particulars

Equity

Debt, MM & Others

Benchmark :



Debt62.14%

Equity27.61%

MM & Others10.25%


Gilt10.41%AA

0.14%

AA+11.69%


yReliance Gas Transportation Infrastucture Limited 3.27%Indian Oil Corporation Ltd 3.17%Larsen & Toubro Limited 2.85%

Dr. Reddy's Laboratories Ltd. 2.78%


ACC Limited 2.22%

LIC Housing Finance Ltd 2.17%

Tata Communications Limited 2.10%


Indian Railway Financial Corporation Ltd. 1.88%


Tech Mahindra Limited 1.84%

TATA Sons 1.79%


IDFC 1.20%


MM & Others 10.25%

Total 100.00%

`

12.21%

9.51%

7.16%

5.77%

5.61%

5.14%

4.37%

4.13%



Refinery

Computer software



Steel

Other Financial Services

Top 10 Industry Exposure ( % to AUM) < 1 year 1‐3 years 3‐5 years 5‐10 years > 10 years

1.34%

40.19%

28.24%28.39%

1.84%

Debt Maturity Profile (% of Debt)

AAA77.76%

10

11

12

13

14

15

16

NAV/U

NIT (R

s)


Balanced Fund Benchmark

3.30%

3.27%

Cement


9

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

February 25, 2009

Portfolio % to AUM

`

Debt 92.85% Minimum Maximum

Gilts & SDL 23.03% 80% 100% 92.85%

GOI 21.05% 0% 20% 7.15%

SDL ‐ Gujarat 1.33%

SDL ‐ Other States (with < 1% exposure) 0.65%



Reliance Gas Transportation Infrastucture Limited 5.36%Indian Railway Financial Corporation Ltd. 4.82%

ACC Limited 4.70%





MRF Ltd. 3.30%


IDFC 3.12%



BOND FUND - MAY, 2011

To aim for stable returns over medium to long term by judicious mix of investments in Government

securities and high quality corporate debt of varying maturities and also in money market instruments.


Asset Mix

Particulars

Debt

MM & Others



Benchmark :

Debt92.85%

MM & Others7.15%


Gilt

AA0.23%

AA+12.14%




TATA Sons 2.17%




National Bank For Agriculture And Rural Development 1.39%




MM & Others 7.15%

Total 100.00%

`

13.45%

11.03%

5.36%

4.70%

4.00%

3.87%

3.86%

3.73%

3.48%




Cement

Diversified

Refinery


Steel

Electricity distribution



1.64%

38.42%

18.54%

34.38%

7.02%


24.81%

AAA62.83%

9 8

10

10.2

10.4

10.6

10.8

11

11.2

11.4

NAV/U

NIT (Rs)


Bond Fund Benchmark

3.30%

y

Tyres and Tubes

9.8

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

March 31, 2009

Portfolio % to AUM

`


Larsen & Toubro Limited 6.46% 80% 100% 92.28%


ITC Ltd. 5.97%
















Hindustan Petroleum Corporation Ltd. 1.83%

Punjab National Bank 1 82%

Equity

MM & Others

To seek consistent long term capital appreciation through investments primarily in equity and equity‐

related instruments by focusing predominantly on well established companies.

Asset Mix

ParticularsInvestment Pattern

Actual

INDIVIDUAL PENSION FUND EQUITY - MAY, 2011

Benchmark :



Equity92.28%

MM & Others7.72%


Punjab National Bank 1.82%


HDFC Bank Ltd 1.77%







NTPC Limited 1.41%



Infrastructure Development Finance Company Limited 1.22%

Cairn India Limited 1.04%


MM & Others 7.72%

Total 100.00%

`

10.96%

10.05%

9.07%

7.25%

7.12%

5.97%

4.39%

3.73%

Banking Services

Computer software

Refinery



Tobacco products


Cosmetics, toiletries, soaps & detergents


10

11

12

13

14

15

16

17

18

19

20

21

22

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

NAV/U

NIT (Rs)


Pen Equity Benchmark

3.54%

2.73%

Prime movers



Date of Inception :

To seek consistent growth over medium to long term by focusing predominantly on well established

companies through investments primarily in equity and equity‐related instruments and fair exposure to

high credit quality portfolio of debt and money market instruments.

INDIVIDUAL PENSION FUND GROWTH - MAY, 2011

Benchmark :ate o cept o

March 31, 2009

Portfolio % to AUM

`




ITC Ltd. 4.50%

Tata Consultancy Services Limited 3 27%

Equity

Debt, MM & Others

Asset Mix


Actual

e c a













G i I d t i Ltd 1 52%

Debt26.69%

Equity

MM & Others10.14%







HDFC Bank Ltd 1.31%





G d j C P d Li i d 1 11%

q y63.17%

Gilt5.61%

AA1.28%

AA+9.68%






Debt 26.69%

Gilts & SDL 1.50%

GOI 1.41%


C t B d 25 19%

AAA83.44%










ACC Limited 1.23%

36.64%

39.59%





MM & Others 10.14%

Total 100.00%



0.35%

18.62%

4.80%

f ( )

`

9.52%

7.40%

7.20%

7.09%

5.59%

4.74%

4.50%

Computer software

Banking Services

Refinery




Tobacco products 12

13

14

15

16

17

18

19

NAV/U

NIT (Rs)


Pen Growth Benchmark

4.27%

3.90%

3.33%

p

Steel



10

11

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

March 31, 2009

Portfolio % to AUM

`




ITC Ltd. 2.20%




Bharat Heavy Electricals Ltd 1.53%Aditya Birla Nuvo Limited 1.49%Housing Development Finance Corporation Ltd. 1.46%



Debt 64.12%

Gilts & SDL 5.74%

GOI 4.70%SDL (with < 1% exposure) 1.04%

Corporate Bonds 58.38%Reliance Capital Limited 5.36%Housing Development Finance Corporation Ltd. 5.18%

Equity

Debt, MM & Others

To aim for stable returns over medium to long term through investments in high quality fixed income

and money market instruments and enhance returns through a fair exposure to equity investments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND BALANCED - MAY, 2011

Benchmark :



Debt64.12%

Equity28.80%

MM & Others7.08%


Gilt8.96%

AA

AA+10.94%


Indian Oil Corporation Ltd 5.10%Power Grid Corporation of India Limited 4.49%Aditya Birla Nuvo Limited 3.91%ACC Limited 3.61%Power Finance Corporation Limited 3.48%







TATA Sons 1.75%




MRF Ltd. 1.06%


MM & Others 7.08%

Total 100.00%

`

9.92%

9.68%

7.99%

6.27%

5.40%

5.36%

5.22%

4.60%

Refinery



Computer software

Diversified


Steel


Top 10 Industry Exposure ( % to AUM) < 1 year 1‐3 years 3‐5 years 5‐10 years > 10 years

0.23%

40.38%

31.19%

23.14%

5.05%


AAA77.92%

AA2.19%

11

12

13

14

15

NAV/U

NIT (Rs)


Pen Balance Benchmark

4.60%

4.22%

Cement


10

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

March 31, 2009

Portfolio % to AUM

`


Gilts & SDL 14.30% 80% 100% 94.11%

GOI 8.11% 0% 20% 5.89%

SDL ‐ AP 2.41%


SDL ‐ Kerala 1.64%











MRF Ltd. 3.54%

P Fi C ti Li it d 3 50%

Debt

MM & Others



Asset Mix


Actual

INDIVIDUAL PENSION FUND BOND - MAY, 2011

Benchmark :



Debt94.11%

MM & Others5.89%


GiltAA+



ACC Limited 3.45%


IDFC 2.92%






TATA Sons 1.29%

National Bank For Agriculture And Rural Development 1.25%



MM & Others 5.89%

Total 100.00%

`

11.44%

8.97%

8.10%

7.77%

7.10%

6.14%

5.76%

5.42%


Steel



Refinery



Diversified



0.37%

34.16%

19.89%

41.81%

3.76%


Gilt15.20%

AAA69.85%

AA2.13%

12.82%

10.0

10.2

10.4

10.6

10.8

11.0

11.2

11.4

NAV/U

NIT (Rs)


Pen Bond Benchmark

4.08%

3.54%


Tyres and Tubes

9.8

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

January 20, 2010

Portfolio % to AUM

`






ITC Ltd. 4.34%














HDFC Bank Ltd 2.03%


APEX EQUITY FUND - MAY, 2011

To tap growth opportunities for long term capital appreciation through investments primarily in equity and

equity‐related instruments.


Asset Mix

Particulars

Equity

MM & Others

Benchmark :



Equity88.31%

MM & Others11.69%


( )





Infrastructure Development Finance Company Limited 1.62%





Tata Power Co. Ltd. 1.15%

Bharat Petroleum Corpn. Ltd 1.00%


MM & Others 11.69%

Total 100.00%

`

10.68%

10.61%

7.26%

7.08%

6.05%

4.34%

4.04%

3.78%

Computer software

Banking Services

Refinery



Tobacco products




9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

NAV/U

NIT (Rs)


Apex Equity Benchmark

3.04%

2.87%


Commercial vehicles


Date of Inception :

January 20, 2010

Portfolio % to AUM

`






ITC Ltd. 2.90%















HDFC Bank Ltd 1.43%



APEX GROWTH FUND - MAY, 2011

To aim for medium to long term capital appreciation by maintaining a diversified portfolio of equity and

equity related instruments and fair exposure to high credit quality portfolio of debt and money market

instruments.


Asset Mix

Particulars

Equity

Debt, MM & Others

Benchmark :



Debt25.13%

Equity62.95%

MM & Others11.92%


Gilt21.92%

AA+3.16%








Debt 25.13%

Gilts & SDL 5.51%

GOI 5.46%


Corporate Bonds 19.62%Housing Development Finance Corporation Ltd. 5.75%

Power Finance Corporation Limited 2.09%Reliance Gas Transportation Infrastucture Limited 1.92%MRF Ltd. 1.55%


Reliance Industries Ltd 1.23%LIC Housing Finance Ltd 1.15%Others (with < 1% exposure) 4.62%

MM & Others 11.92%

Total 100.00%

`

9.66%

7.70%

7.45%

6.20%

5.66%

5.12%

4.81%

3 05%


Banking Services

Computer software

Refinery





Top 10 Industry Exposure ( % to AUM)1‐3 years 3‐5 years 5‐10 years > 10 years

55.15%

6.70%

18.49% 19.65%


AAA74.92%

9.5

10.0

10.5

11.0

11.5

12.0

NAV/U

NIT (Rs)


Apex Growth Benchmark

3.05%

2.90%

2.84%


Tobacco products


9.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

January 20, 2010

Portfolio % to AUM

`





ITC Ltd. 2.35%



Tata Consultancy Services Limited 1.93%Hindustan Unilever Limited 1.40%Sun Pharmaceuticals Industries Ltd 1.32%




HDFC Bank Ltd 1.22%Bajaj Auto Limited 1.18%

Bharat Heavy Electricals Ltd 1.09%Hindalco Industries Ltd. 1.05%






APEX BALANCED FUND - MAY, 2011


Asset Mix

Particulars

Equity

Debt, MM & Others

To optimize returns over medium to long term, by aiming balance between risk and return, through

investments in high quality equity and debt instruments.

Benchmark :



Debt40.69%

Equity45.53%

MM & Others13.79%

Asset Allocation( % to AUM)

Gilt20.99%

AA+2.26%


Debt 40.69%

Gilts & SDL 8.54%

GOI 7.58%



Housing Development Finance Corporation Ltd. 6.60%UltraTech Cement Limited 3.95%Reliance Gas Transportation Infrastucture Limited 3.32%Power Finance Corporation Limited 3.10%LIC Housing Finance Ltd 2.44%TATA Sons 2.21%Larsen & Toubro Limited 2.03%MRF Ltd. 1.39%National Housing Bank 1.37%ACC Limited 1.23%Others (with < 1% exposure) 4.51%

MM & Others 13.79%

Total 100.00%

`

10.99%

7.00%

6.26%

6.12%

5.45%

5.16%

4.23%

4.23%



Computer software

Cement


Banking Services

Refinery




2.06%

55.00%

11.78%

20.96%

10.19%


AAA76.76%

9.5

10

10.5

11

11.5

12

NAV/U

NIT (Rs)


Apex Balanced Benchmark

3.97%

2.35%


Tobacco products

9

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

January 20, 2010

Portfolio % to AUM

`


Gilts & SDL 36.62% 80% 100% 90.10%

GOI 33.37% 0% 20% 9.90%

State Govt ‐ Maharashtra 1.21%








TATA Sons 4.56%


UltraTech Cement Limited 3.54%


MRF Ltd. 2.63%

APEX BOND FUND - MAY, 2011




Asset Mix

DEBT

MM & Others

Particulars

Benchmark :



Debt90.10%

MM & Others9.90%


AA+Debt Rating Profile (% of Debt)


IDFC 2.60%





MM & Others 9.90%

Total 100.00%

`

12.17%

11.70%

6.11%

4.92%

4.56%

4.25%

3.76%

2.63%

1 50%



Refinery

Steel

Securities investment services

Cement


Tyres and Tubes

Di ifi d


1‐3 years 3‐5 years 5‐10 years > 10 years

28.06%

10.93%

30.09% 30.93%


Gilt40.64%

AAA54.78%

4.58%

10.2

10.4

10.6

10.8

11.0

NAV/U

NIT (Rs)


Apex Bond Benchmark

1.50%

1.05%

Diversified


9.8

10.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

January 20, 2010

Portfolio % to AUM

`






ITC Ltd. 4.37%

















Equity

MM & Others

To seek consistent long term capital appreciation through investments primarily in equity and equity‐

related instruments by focusing predominantly on well established companies.

Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX EQUITY - MAY, 2011

Benchmark :



Equity89.44%

MM & Others10.56%



HDFC Bank Ltd 1.64%




Glenmark Pharmaceuticals Ltd. 1.54%





Thermax Ltd 1.27%



Cipla Ltd. 1.11%


MM & Others 10.56%

Total 100.00%

`

10.61%

10.16%

7.39%

6.86%

6.30%

4.37%

4.26%

4.10%

Computer software

Banking Services


Refinery


Tobacco products


Prime movers


9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

NAV/U

NIT (Rs)


Pen Apex Equity Benchmark

3.46%

3.17%




Date of Inception :

January 20, 2010

Portfolio % to AUM

`




ITC Ltd. 3.66%

















HDFC Bank Ltd 1.26%


Oil & Natural Gas Corpn Ltd 1 22%

Equity

Debt, MM & Others

To seek consistent growth over medium to long term by focusing predominantly on well established

companies through investments primarily in equity and equity‐related instruments and fair exposure to

high credit quality portfolio of debt and money market instruments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX GROWTH - MAY, 2011

Benchmark :



Debt28.51%

Equity63.81%

MM & Others7.68%


Gilt19.80%

AA+6.90%








Kotak Mahindra Bank Limited 1.10%


Debt 28.51%

Gilts & SDL 5.65%

GOI 5.03%SDL (with < 1% exposure) 0.61%

Corporate Bonds 22.86%Power Finance Corporation Limited 5.28%Housing Development Finance Corporation Ltd. 4.29%Dr. Reddy's Laboratories Ltd. 1.97%LIC Housing Finance Ltd 1.89%National Housing Bank 1.39%Tech Mahindra Limited 1.23%Reliance Gas Transportation Infrastucture Limited 1.01%Others (with < 1% exposure) 5.81%

MM & Others 7.68%

Total 100.00%

`

9.22%

8.84%

8.25%

7.86%

7.24%

5.61%

5.54%

3.66%


Computer software

Banking Services




Refinery

Tobacco products



2.07%

38.24%

22.68%

29.45%

7.56%


AAA73.30%

9.5

10.0

10.5

11.0

11.5

12.0

NAV/U

NIT (Rs)


Pen Apex Growth Benchmark

3.26%

2.75%



9.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

January 20, 2010

Portfolio % to AUM

`


ITC Ltd. 2.87% 35% 65% 47.76%






Crompton Greaves Ltd 1.85%Bharat Heavy Electricals Ltd 1.80%State Bank of India 1.75%




Tata Consultancy Services Limited 1.34%Ranbaxy Laboratories Ltd 1.28%

Hindalco Industries Ltd. 1.27%Punjab National Bank 1.15%

Cipla Ltd. 1.14%Hindustan Unilever Limited 1.13%Oil & Natural Gas Corpn Ltd 1.11%Grasim Industries Ltd. 1.08%Tata Steel Limited 1.06%Tata Motors Limited 1.05%

Equity

Debt, MM & Others



Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX BALANCED - MAY, 2011

Benchmark :



Debt44.87%

Equity47.76%

MM & Others7.37%


Gil

AA+6.51%


HDFC Bank Ltd 1.05%The Indian Hotels Company Limited 1.04%Others (with < 1% exposure) 9.46%

Debt 44.87%Gilts & SDL 12.43%GOI 9.67%SDL ‐ Gujarat 2.09%SDL ‐ Other States (with < 1% exposure) 0.68%










Rural Electrification Corporation Limited 1.19%



TATA Sons 1.05%


MM & Others 7.37%

Total 100.00%

`

8.39%

8.39%

7.90%

7.65%

6.82%

5.75%

5 01%

Infrastructure finance …



Refinery

Computer software

Banking Services




31.81%

16.76%

43.33%

8.10%


Gilt27.70%

AAA65.80%

9 5

10.0

10.5

11.0

11.5

12.0

NAV/U

NIT (Rs)


Pen Apex Balanced Benchmark

5.01%

3.46%

2.87%

2.17%


Diversified

Tobacco products

Steel

9.0

9.5

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

January 20, 2010

Portfolio % to AUM

`


Gilts & SDL 33.53% 80% 100% 92.78%

GOI 20.97% 0% 20% 7.22%


State Govt ‐ Maharashtra 4.80%

SDL ‐ AP 1.69%






IDFC 6.32%

MRF Ltd. 3.47%



TATA Sons 2.83%

Aditya Birla Nuvo Limited 2 64%

DEBT

MM & Others



Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX BOND -MAY, 2011

Benchmark :



Debt92.78%

MM & Others7.22%


AA+

Debt Rating Profile (% of Debt)Aditya Birla Nuvo Limited 2.64%

Rural Electrification Corporation Limited 2.28%

ACC Limited 1.97%





MM & Others 7.22%

Total 100.00%

`

19.06%

10.22%

7.31%

5.88%

3.47%

2.86%

2.83%

2.64%

1.97%




Refinery

Tyres and Tubes


Securities investment services

Diversified

Cement



27.40%

21.11%

40.96%

10.53%


Gilt36.14%

AAA57.27%

AA+6.59%

10.0

10.1

10.2

10.3

10.4

10.5

10.6

10.7

10.8

10.9

11.0

NAV/U

NIT (R

s)


Pen Apex Bond Benchmark

1.81%Computer software9.8

9.9

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11


Date of Inception :

April 29, 2011

Portfolio % to AUM

`


Sun Pharmaceuticals Industries Ltd 3.46% 0% 60% 16.24%

State Bank of India 3.33% 40% 100% 83.76%

ITC Ltd. 3.26%



Debt 3.25%Corporate Bonds 3.25%


MM & Others 80.51%

Total 100.00%

EXPRESS BALANCED FUND - MAY, 2011



Asset Mix

Benchmark :




Actual

Equity

Debt, MM & Others

Debt3.25%

Equity16.24%

MM & Others80.51%



`

6.31%

3.46%

3.33%

3.26%

3.14%

Refinery


Banking Services

Tobacco products

Computer software


5‐10 years

100.00%


AAA100.00%

9.8

9.8

9.9

9.9

10.0

10.0

10.1

10.1

10.2

10.2

NAV/U

NIT (R

s)


Express Balanced Fund Benchmark

9.7

29‐Apr‐11

01‐M

ay‐11

03‐M

ay‐11

05‐M

ay‐11

07‐M

ay‐11

09‐M

ay‐11

11‐M

ay‐11

13‐M

ay‐11

15‐M

ay‐11

17‐M

ay‐11

19‐M

ay‐11

21‐M

ay‐11

23‐M

ay‐11

25‐M

ay‐11

27‐M

ay‐11

29‐M

ay‐11

31‐M

ay‐11

Risk Factors

• This document has been prepared for the purpose of providing general information

only.

• Unit Linked Life Insurance products are different from the traditional insurance

products and are subject to various risk factors.

• Customers should take into account their personal investment objectives, risk

appetite and other aspects of their financial situation before making an investment

decision.

• Unit linked policies are subject to market risks associated with capital markets and

NAVs of units may go up or down based on the performance of fund and factors

influencing the capital market and the customers have to consider this aspect while

taking any decision.

• SUD Life shall not be responsible for any losses caused or any claims that arise due to

investments made based on this document.

• Customers are advised to note that the details are based on past performance and

are not indicative of its future prospects or returns.

• All efforts have been made to ensure accuracy of the contents of this document,

however, SUD Life shall not be held responsible for any errors or omissions.

Disclaimers

CRISIL Composite Bond Index and CRISIL Liquid Fund Index

CRISIL has taken due care and caution in compilation of data. Information has been obtained by CRISIL

from sources it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or

completeness of the information and is not responsible for any errors or omissions or for the results

obtained from the use of such information. CRISIL is not responsible for any errors in data

reproduction. CRISIL especially states that it has no financial liability whatsoever to the subscribers/

users/ transmitters/ distributors of this bulletin.

S&P CNX NIFTY

“The Individual Life, Pension Life, Individual Apex Life and Pension Apex Life funds related to Equity, Balanced and Growth schemes; and also Individual Life Express Balanced Fund, offered by SUD Life Insurance Co. Ltd are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL") or S&P and its affiliates.

“S&P®” and “Standard and Poor’s®” are trademarks of Standard & Poor’s Financial Services LLC, and have been licensed for use by India Index Services & Products Limited in connection with the S&P CNX Nifty Index.

Neither IISL nor S&P and its affiliates makes any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) to the owners of aforesaid schemes or any member of the public regarding the advisability of investing in securities generally or in aforesaid schemes linked to S&P CNX Nifty Index or particularly in the ability of the said Index to track general stock market performance in India”.

invveestar - sud life attachment/investar fact sheet...from the second half of fy’2010-11, iip...

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