InvveeSTAR - SUD Life Attachment/InveSTAR Fact Sheet March 2011.pdf · GDP registered growth of...

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Global Economic Scenario: Japan experienced the worst ever earthquake disaster followed by a tsunami and crisis at nuclear power plants, leading to massive destruction. Concerns over European debt problems have somewhat receded, though the problems of PIIGS countries does not seem to be over yet as evident from the downgrade of Portugal's government-bond rating closer to junk and Ireland needing additional $35 billion for its ailing banks. US economy is showing signs of strength with and distinct improvement even in the sluggish labor market. US GDP registered growth of 3.1% in Q4’ 2010 as compared to 2.6% in Q3. Return of strength is being reflected in increasing yields of US treasury notes. In order to cool down growth and to combat inflation China is in the monetary tightening mode China increased interest rates by 25 bps (forth time since October’ 2010) and Bank reserve requirements (ninth time since the start of last year) to 20%. Geo-political tensions in Middle East have led to sharp increase in crude price, which if continues at elevated level will be detrimental to the economic activities world over and specially in India. Indian Economy: Growth rate of Index of Industrial Production (IIP) for January’ 2011 has increased marginally to 3.5% as compared to 2.5% for the month of December 2010. IIP growth rate is continuing to be low mainly due to continuing contraction of capital goods segment.

Growth in Index of Industrial Production(YoY)

Basic Goods

Capital Goods

Intermediate Goods

Consumer Goods

Aggregate

Jan-11 7.6% -18.6% 7.9% 11.3% 3.7% Dec-10 6.0% - 9.7% 6.6% 3.7% 2.5% Nov-10 4.5% 12.6% 2.4% -3.1% 2.7% April-Dec-10 8.6% 12.3% 9.1% 7.1% 8.3%

Current account deficit (CAD) India’s CAD for 3Q’ 2011 narrowed to US$ 9.7bn (2.3% of GDP), against US$ 12.2bn (3.5% of GDP) a year earlier. CAD for Q3’2011 is the lowest during the last six quarters. Contraction in CAD was aided by sharp rise in software exports and remittances. During Apr-Dec 2010, however, the CAD, at US$38.9bn, was much higher than the US$25.5bn deficit in the same period last year.

Mid-Quarter Review of Monetary Policy: In the mid quarter review of monetary policy, containment of inflation remained the dominant concern. Key Highlights: Repo and Reverse Repo rates increased by 25

bps each to 6.75% and 5.75% respectively. Inflation target for March end raised to 8% from

7%. CAD target for FY’11 lowered to 2.5% of GDP. CRR and Bank Rate unchanged at 6% FY 11 projections for: credit growth Money

supply growth and GDP unchanged at 20%,17% and 8.6% respectively.

Inflation (Based on WPI) For Month-ended Y o Y % Increase

February ’ 2011 8.31 January ’ 2011 8.23 Inflation rate for the month of November was revised upwards to 8.08% from the earlier reported provisional number of 7.48%. Build –up of inflation so far in the current year is 7.51% as compared to 9.42% in the corresponding period of previous year. For the month ended February, Price of primary articles declined by 2.9%, while Fuel & Power and Manufactured Products groups rose by 0.7% and 1.3% respectively over the index levels of previous month.

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

FII Flows (Rs. Crore)

Feb.’11 Mar.’11 Total in 2011 Up to 31.03.11 Equity -4,038 6,898 -2,501 Debt 1,801 -15 11,477

Total -2,237 6,883 8,976

Mutual Funds Flow (Rs. Crore) Feb.’11 Mar.’11 Total in 2011 Up to 31.03.11 Equity 1,427 -253 1,765 Debt 22,452 27,855 87,834

Total 23,979 27,602 89,599 US$ Vs.INR: Lower Fiscal & Revenue deficits announced in the Union Budget were favorable for Rupee and on the back of increased FII flows, Rupee strengthen to close at about 44.59 against US$ as at March end, as against corresponding Rs 45.27 as at February end. Debt Markets: Liquidity in the system continued to be tight and Call Money rates during the month by and large hovered close to the Repo rate (6.75%), barring on last day of the month, when the Call rates shot up to 8.75% due to tightness in the money markets and year end funds requirements of the Banks and Institutions. After announcement of the Union Budget, Bond Yields dropped due to lower than expected fiscal deficits/Govt. borrowing program and increase in limit of Corporate Bonds exposure for FII. On the back of limited supply and strong demand of paper from PSU Banks, bond yields remained benign. As at March end 10 Year benchmark yield dropped to 8.04% from 8.07% as at February end.

Going forward, Bond yields are expected to remain range bound with upward bias. However, the level of inflation and how the same is addressed would decide the interest rate levels and direction. Stock Market:

During first two months of CY’12, amid political uncertainties, issues relating to corporate governance and concerns on rising inflation, Indian equity markets witnessed correction and underperformed most of the Global markets. The market, however recovered from its low the after announcement of union Budget and moved up sharply during the second half of March’ 2011, aided by FII inflows, which were subdued earlier. All the major sectoral indices witnessed decent gains (5% to 20%), while Sensex and Nifty advanced by over 9%. The rally was led by Auto, Real Estate, Healthcare and FMCG sectors. Going forward, down side for the market appears to be limited further up-moves will largely depend on the Q4 results.

Equity Indices Sensex Nifty Close as on 28.02.11 17,728 5,333 Close as on 31.03.11 19,445 5,834 Gain during Period 9.1% 9.4%

Performance Summary as on March 31, 2011

i

NAV Returns

InveSTAR

6 Months 1 Year 2 Year Since

Inception

Equity Fund 25/02/2009 93.54 20.42 ‐3.31% 8.87% 33.10% 40.65%

Growth Fund 25/02/2009 70.54 18.35 ‐2.32% 8.21% 27.69% 33.64%

Balanced Fund 18/02/2009 52.78 13.95 ‐0.71% 5.46% 15.09% 17.07%

Bond Fund 25/02/2009 20.81 11.14 1.59% 4.84% 5.12% 5.29%

Individual Pension Fund ‐ Equity 31/03/2009 69.46 17.02 ‐4.56% 7.90% 30.47% 30.86%

Individual

Life @

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

Absolute CAGR

Individual Pension Fund ‐ Growth 31/03/2009 73.99 15.41 ‐2.77% 6.79% 24.14% 24.14%

Individual Pension Fund ‐ Balanced 31/03/2009 46.09 13.23 ‐0.16% 6.07% 15.04% 15.16%

Individual Pension Fund ‐ Bond 31/03/2009 11.34 11.10 1.39% 5.14% 5.35% 5.35%

Apex Equity Fund 20/01/2010 195.79 11.15 ‐3.05% 11.26% N.A 9.59%

Apex Growth Fund 20/01/2010 169.90 11.04 ‐1.12% 10.42% N.A 8.63%

Apex Balanced Fund 20/01/2010 98.94 10.99 ‐0.88% 9.01% N.A 8.23%

Apex Bond Fund 20/01/2010 18.11 10.67 2.26% 5.96% N.A 5.56%

Individual

Apex $

Pension Life

@@

Individual Pension Fund ‐ Apex Equity 20/01/2010 93.37 10.93 ‐4.08% 9.14% N.A 7.77%

Individual Pension Fund ‐ Apex Growth 20/01/2010 99.61 10.74 ‐3.11% 7.32% N.A 6.17%

Individual Pension Fund ‐ Apex Balanced 20/01/2010 45.14 10.69 ‐1.70% 6.62% N.A 5.75%

Individual Pension Fund ‐ Apex Bond 20/01/2010 14.29 10.63 1.70% 5.44% N.A 5.26%

Pension

Apex $$

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

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Investment Objective:

Date of Inception :

February 25, 2009

Portfolio % to AUM

`

Equity 92.67% Minimum Maximum

Reliance Industries Ltd 6.52% 80% 100% 92.67%

Infosys Technologies Ltd. 5.53% 0% 20% 7.33%

ITC Ltd. 5.51%

Larsen & Toubro Limited 5.49%

State Bank of India 5.43%

Housing Development Finance Corporation Ltd. 3.79%

Tata Consultancy Services Limited 3.74%

Bharat Heavy Electricals Ltd 3.27%

ICICI Bank Ltd 3.18%

Mahindra & Mahindra Ltd. 3.00%

Dr. Reddys Laboratories Ltd. 2.91%

Tata Motors Limited 2.64%

Ranbaxy Laboratories Ltd 2.22%

Grasim Industries Ltd. 2.21%

GAIL (India) Limited 2.21%

Tata Steel Limited 2.01%

Cipla Ltd. 2.00%

Bajaj Auto Limited 1.97%

Crompton Greaves Ltd 1.93%

Hindalco Industries Ltd. 1.87%

Sterlite Industries ( India ) Limited 1.75%

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 - MARCH 31, 2011

Equity92.67%

MM & Others7.33%

Asset Allocation (% to AUM)

( )

NTPC Limited 1.71%

Hindustan Unilever Limited 1.63%

HDFC Bank Ltd 1.52%

Oil & Natural Gas Corpn Ltd 1.49%

Aditya Birla Nuvo Limited 1.37%

HCL Technologies Ltd 1.15%

Colgate Palmolive (India) Ltd 1.13%

Kotak Mahindra Bank Limited 1.11%

Godrej Consumer Products Limited 1.09%

Infrastructure Development Finance Company Limited 1.07%

Axis Bank Limited 1.05%

The Indian Hotels Company Limited 1.04%

Power Grid Corporation of India Limited 1.03%Others (with < 1% exposure) 7.11%

MM & Others 7.33%

Total 100.00%

`

13.44%

10.42%

9.35%

6.52%

6.11%

5.51%

3.79%

3.56%

3 10%

Banking Services

Computer software

Drugs & pharmaceuticals

Refinery

Industrial Construction

Tobacco products

Housing Finance Services

Prime movers

Commercial vehicles

Top 10 Industry Exposure (% to AUM)

9

11

13

15

17

19

21

23

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

NAV/U

nit

NAV Performance (Since Inception)

Equity Fund

3.10%

3.00%

Commercial vehicles

Passenger cars & multi utility vehicles


Date of Inception :

February 25, 2009

Portfolio % to AUM

`



ITC Ltd. 4.29% 0% 60% 32.36%


Infosys Technologies Ltd. 3.74%









HDFC Bank Ltd 1.83%








Ashok Leyland Ltd 1.36%

Power Grid Corporation of India Limited 1.35%

NTPC Limited 1.27%

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 - MARCH 31, 2011

Debt25.60%

Equity67.64%

MM & Others6.77%


AA0.31%

AA+

Gilt7 25%

Debt Rating profile( % of Debt)


Glenmark Pharmaceuticals Ltd. 1.15%

HCL Technologies Ltd 1.12%Oil & Natural Gas Corpn Ltd 1.11%


Others (with < 1% exposure) 9.28%

Debt 25.60%

Gilts & SDL 1.86%

GOI 1.86%

Corporate Bonds 23.74%


Power Finance Corporation Limited 2.43%

Indian Oil Corporation Ltd 1.73%

Reliance Capital Limited 1.73%

The Great Eastern Shipping Co. Limited 1.66%

Steel Authority of India Ltd. 1.48%

National Housing Bank 1.38%

Reliance Gas Transportation Infrastucture Limited 1.29%

Reliance Industries Ltd 1.20%


Tech Mahindra Limited 1.00%


MM & Others 6.77%

Total 100.00%

`

9.32%

9.04%

7.80%

6.66%

5.47%

5.39%

5.31%

Banking Services

Computer software

Refinery


Infrastructure finance …



Top 10 Industry Exposure ( % to AUM)

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

0.22%

24.81%

38.03%

35.38%

1.56%

Debt Maturity Profile ( % of Debt)

13

15

17

19

21

NAV/U

nit ( Rs)


Growth Fund

AA+ 5.15%

AAA 87.29%

7.25%

4.29%

4.03%

3.11%

Tobacco products

Cement

LNG storage & distribution

9

11

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


Date of Inception :

February 18, 2009

Portfolio % to AUM

`




ITC Ltd. 2.19%








NTPC Limited 1.11%






Ranbaxy Laboratories Ltd 0.64%Others (with < 1% exposure) 4.82%

Debt 57.68%Gilts & SDL 6.72%GOI 5.58%SDL (with < 1% exposure) 1 14%

BALANCED FUND - MARCH 31, 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

Debt57.68%

Equity30.31%

MM & Others12.01%


AA 0.15%

AA+

Gilt 11.65%

Debt Rating profile (% of Debt)

SDL (with < 1% exposure) 1.14%









ACC Limited 2.28%


LIC Housing Finance Ltd 2.25%

Tata Communications Limited 2.16%

Indian Railway Financial Corporation Ltd. 1.94%




TATA Sons 1.83%


IDFC 1.22%


MM & Others 12.01%

Total 100.00%

`

9.29%

9.01%

7.70%

5.58%

5.33%

5.03%

4.23%


Infrastructure finance services

Refinery

Computer software


Steel

Other Financial Services

C



1.47%

27.50%

37.06%

31.91%

2.06%

Debt Maturity Profile (% of Debt)

11

12

13

14

15

NAV/U

nit ( Rs )


Balanced Fund

7.99%

AAA 80.21%

3.42%

3.36%

3.07%

Cement


Banking Services

9

10

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


Date of Inception :

February 25, 2009

Portfolio % to AUM

`

Minimum Maximum

Debt 89.37% 80% 100% 89.37%

Gilts & SDL 24.43% 0% 20% 10.63%

GOI 22.31%

SDL ‐ Gujarat 1.43%

SDL ‐ Other States (with < 1% exposure) 0.69%




ACC Limited 4.92%






Larsen & Toubro Limited 3 38%

BOND FUND - MARCH 31, 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

Debt89.37%

MM & Others10.63%


Debt Rating profile( % of Debt)Larsen & Toubro Limited 3.38%

IDFC 3.23%




TATA Sons 2.26%




Reliance Industries Ltd 1.47%National Bank For Agriculture And Rural Development 1.44%



MM & Others 10.63%

Total 100.00%

`

14.09%

6.72%

5.63%

4.92%

4.16%

4.14%

4.01%

3 90%




Cement

Refinery

Diversified


St l



1.76%

30.26%26.05%

38.08%

3.84%


10

10.5

11

11.5

NAV/U

nit ( Rs )


Bond Fund

AA 0.25%

AA+ 9.26%

AAA 63.16%

Gilt 27.33%


3.90%

3.65%

3.38%

Steel

Electricity distribution


9.5

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


Date of Inception :

March 31, 2009

Portfolio % to AUM

`



Larsen & Toubro Limited 6.42% 0% 20% 3.20%


ITC Ltd. 5.56%








HDFC Bank Ltd 2.72%








Punjab National Bank 1 99%

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 - MARCH 31, 2011

Equity96.80%

MM & Others3.20%


Punjab National Bank 1.99%






NTPC Limited 1.60%





Sun Pharmaceuticals Industries Ltd 1.15%



MM & Others 3.20%

Total 100.00%

`

13.54%

10.05%

8.59%

7.11%

6.93%

5.56%

4.45%

3.81%

Banking Services

Computer software



Refinery

Tobacco products


Prime movers


9

10

11

12

13

14

15

16

17

18

19

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

NAV/U

nit ( Rs)


Pen Equity

3.80%

3.43%

Commercial vehicles

Cosmetics, toiletries, soaps & detergents


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 - MARCH 31, 2011

Date of Inception :

March 31, 2009

Portfolio % to AUM

`




ITC Ltd. 4.21%

Equity

Debt, MM & Others

Asset Mix


Actual










HDFC Bank Ltd 1.74%

Debt26.47%

Equity69 04%

MM & Others4.49%












69.04%

AA 1.29% AA+

9.74%

Gilt 5.75%


g




Debt 26.47%

Gilts & SDL 1.52%

GOI 1.43%



AAA 83.21%

p

Housing Development Finance Corporation Ltd. 4.35%Power Grid Corporation of India Limited 3.07%







ACC Limited 1.24%

Aditya Birla Nuvo Limited 1.14% 21 25%

54.31%


Aditya irla Nuvo imited . 4%



MM & Others 4.49%

Total 100.00%



0.35%

21.25%19.16%

4.93%


h

`

9.69%

9.35%

7.51%

6.97%

6.20%

5.61%

4.57%

Computer software

Banking Services

Refinery




Steel 11

12

13

14

15

16

17

NAV/U

nit ( Rs)

Pen Growth

4.21%

3.93%

3.40%

Tobacco products



9

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


Date of Inception :

March 31, 2009

Portfolio % to AUM

`




ITC Ltd. 2.07%




Bharat Heavy Electricals Ltd 1.62%Housing Development Finance Corporation Ltd. 1.50%Aditya Birla Nuvo Limited 1.35%




Debt 63.43%

Gilts & SDL 5.89%

GOI 4.81%


Corporate Bonds 57.54%Reliance Capital Limited 5.40%Housing Development Finance Corporation Ltd. 5.26%

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 - MARCH 31, 2011

Debt63.43%

Equity30.44%

MM & Others6.13%


AA 2.25% AA+

11 15%

Gilt 9.28%


g p p %Indian Oil Corporation Ltd 5.22%Power Grid Corporation of India Limited 4.56%Aditya Birla Nuvo Limited 3.93%ACC Limited 3.66%







TATA Sons 1.78%





MRF Ltd. 1.08%

National Bank For Agriculture And Rural Development 1.00%


MM & Others 6.13%

Total 100.00%

`

9.96%

9.88%

6.74%

6.01%

5.40%

5.32%

5.28%

4.71%

Refinery


Computer software



Steel

Diversified

Cement

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

0.24%

29.51%

40.90%

24.09%

5.26%


9.5

10

10.5

11

11.5

12

12.5

13

13.5

NAV/U

nit ( Rs)


Pen Balanced

11.15%

AAA 77.32%

4.67%

4.31%



9

9.5

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


Date of Inception :

March 31, 2009

Portfolio % to AUM

`

Minimum Maximum

Debt 91.75% 80% 100% 91.75%

Gilts & SDL 14.85% 0% 20% 8.25%

GOI 8.43%

SDL ‐ AP 2.48%


SDL ‐ Kerala 1.70%











Debt

MM & Others




Asset Mix


Actual

INDIVIDUAL PENSION FUND BOND - MARCH 31, 2011

Debt91.75%

MM & Others8.25%


AA


ACC Limited 3.53%


IDFC 2.96%






National Housing Bank 1.72%TATA Sons 1.32%

National Bank For Agriculture And Rural Development 1.30%



MM & Others 8.25%

Total 100.00%

`

10.29%

9.25%

8.42%

8.01%

7.34%

6.29%

5.86%

5.48%


Steel



Refinery



Diversified


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

0.38%

28.21% 26.86%

44.55%


10

10.5

11

11.5

NAV/U

nit ( RS)


Pen Bond

2.24%

AA+ 9.43%

AAA 72.14%

Gilt 16.19%

4.18%

3.53%


Cement

9.5

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


Date of Inception :

January 20, 2010

Portfolio % to AUM

`






ITC Ltd. 4.07%





HDFC Bank Ltd 2.83%











Oil & Natural Gas Corpn Ltd 1 53%

APEX EQUITY FUND - MARCH 31, 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

Equity86.04%

MM & Others13.96%




Cairn India Limited 1.42%


Tata Power Co. Ltd. 1.32%



Coal India Limited 1.20%







MM & Others 13.96%

Total 100.00%

`

13.27%

10.96%

6.44%

5.69%

4.94%

4.29%

4.07%

3.37%

Banking Services

Computer software



Refinery

Commercial vehicles

Tobacco products

Cement


9

9.5

10

10.5

11

11.5

12

NAV/U

nit ( Rs )


Apex Equity

3.15%

2.94%


Crude oil & natural gas


Date of Inception :

January 20, 2010

Portfolio % to AUM

`






ITC Ltd. 2.97%



HDFC Bank Ltd 2.21%












Oil & N t l G C Ltd 1 22%

APEX GROWTH FUND - MARCH 31, 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

Debt18.14%

Equity64.90%

MM & Others16.96%


AA+ 0.11%

Debt Rating profile( % to Debt)








Debt 18.14%

Gilts & SDL 4.71%

GOI 4.66%


Corporate Bonds 13.43%Housing Development Finance Corporation Ltd. 2.17%Reliance Gas Transportation Infrastucture Limited 1.50%National Housing Bank 1.43%Reliance Industries Ltd 1.38%LIC Housing Finance Ltd 1.28%Others (with < 1% exposure) 5.67%

MM & Others 16.96%

Total 100.00%

`

10.63%

8.37%

5.45%

5.41%

4.89%

4.80%

3.96%

3.50%

3.37%

Banking Services

Computer software


Refinery




Cement

Commercial vehicles

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

37.96%

11.90%

28.68%

21.46%


9.5

10

10.5

11

11.5

12

NAV/U

nit ( Rs )


Apex Growth

AAA 73.92%

Gilt 25.97%

3.37%

2.97%

Commercial vehicles

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


Date of Inception :

January 20, 2010

Portfolio % to AUM

`





ITC Ltd. 2.38%



Tata Consultancy Services Limited 1.52%HDFC Bank Ltd 1.52%Grasim Industries Ltd. 1.45%




Axis Bank Limited 1.06%HCL Technologies Ltd 1.02%

GAIL (India) Limited 1.02%Mahindra & Mahindra Ltd. 1.01%

Bajaj Auto Limited 1.01%Others (with < 1% exposure) 17.16%

Debt 34 88%

APEX BALANCED FUND - MARCH 31, 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.

Debt34.88%

Equity46.28%

MM & Others18.85%


AA+ 2.84%


Debt 34.88%Gilts & SDL 6.95%GOI 5.88%SDL (with < 1% exposure) 1.07%

Corporate Bonds 27.93%UltraTech Cement Limited 4.29%Reliance Gas Transportation Infrastucture Limited 3.61%Housing Development Finance Corporation Ltd. 3.10%LIC Housing Finance Ltd 2.69%TATA Sons 2.42%Larsen & Toubro Limited 2.25%

Power Finance Corporation Limited 1.86%National Housing Bank 1.48%ACC Limited 1.34%Others (with < 1% exposure) 4.90%

MM & Others 18.85%

Total 100.00%

`8.19%

7.40%

7.36%

6.47%

6.00%

5.79%

4.64%

4.07%

Banking Services

Cement


Computer software




Refinery


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

50.30%

16.58%

27.13%

6.00%


9.5

10

10.5

11

11.5

NAV/U

nit ( Rs )


Apex Balanced

AAA 77.24%

Gilt 19.92%

3.58%

2.42%


Securities investment services

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


Date of Inception :

January 20, 2010

Portfolio % to AUM

`

Minimum Maximum

Debt 80.28% 80% 100% 80.28%

Gilts & SDL 27.48% 0% 20% 19.72%

GOI 23.91%

State Govt ‐ Maharashtra 1.33%







TATA Sons 4.96%



UltraTech Cement Limited 3.81%

APEX BOND FUND - MARCH 31, 2011





Asset Mix

DEBT

MM & Others

Particulars

Debt80.28%

MM & Others19.72%


AA+ Debt Rating profile( % of Debt)



IDFC 2.77%


Hindustan Petroleum Corporation Ltd. 1.34%



MM & Others 19.72%

Total 100.00%

`

12.57%

7.58%

6.68%

5.41%

4.96%

4.58%

4.13%

1.60%



Refinery

Steel


Cement


Diversified



27.17%

14.64%

38.67%

19.51%


10

10.5

11

NAV/U

nit (R

s )


Apex Bond

AA2.08%

AAA 62.24%

Gilt 35.68%

1.14%

0.64%


Computer software

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


Date of Inception :

January 20, 2010

Portfolio % to AUM

`







ITC Ltd. 4.13%















HDFC Bank Ltd 1.86%

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 - MARCH 31, 2011

Equity93.46%

MM & Others6.54%


HDFC Bank Ltd 1.86%









Thermax Ltd 1.32%




Cipla Ltd. 1.10%Axis Bank Limited 1.05%Others (with < 1% exposure) 4.15%

MM & Others 6.54%

Total 100.00%

`

13.48%

10.92%

8.41%

6.21%

5.26%

4.27%

4.13%

4.12%

Banking Services

Computer software



Refinery

Commercial vehicles

Tobacco products



9

9.5

10

10.5

11

11.5

12

NAV/U

nit ( Rs )


Pen Apex Equity

4.12%

3.32%

Prime movers



Date of Inception :

January 20, 2010

Portfolio % to AUM

`





ITC Ltd. 3.50%

















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 - MARCH 31, 2011

Debt24.01%

Equity69.92%

MM & Others6.07%


AA+ 0.10%


HDFC Bank Ltd 1.48%






Thermax Ltd 1.01%


Debt 24.01%

Gilts & SDL 5.86%

GOI 5.21%SDL (with < 1% exposure) 0.64%

Corporate Bonds 18.16%Power Finance Corporation Limited 3.54%Housing Development Finance Corporation Ltd. 2.88%LIC Housing Finance Ltd 1.96%National Housing Bank 1.42%Tech Mahindra Limited 1.26%Reliance Gas Transportation Infrastucture Limited 1.04%Larsen & Toubro Limited 1.02%Others (with < 1% exposure) 7.10%

MM & Others 6.07%

Total 100.00%

`

10.37%

9.56%

8.00%

6.19%

5.95%

5.76%

5.50%

Banking Services

Computer software





Refinery



21.21%

33.00%

36.44%

9.35%


10

10.5

11

11.5

NAV/U

nit ( Rs)


Pen Apex Growth

AAA 75.52%

Gilt 24.38%

3.50%

3.42%

3.24%

Tobacco products


Commercial vehicles

9

9.5


Date of Inception :

January 20, 2010

Portfolio % to AUM

`



Mahindra & Mahindra Ltd. 2.76% 35% 65% 51.86%

ITC Ltd. 2.74%




Crompton Greaves Ltd 1.93%Glenmark Pharmaceuticals Ltd. 1.82%Kotak Mahindra Bank Limited 1.52%




Godrej Consumer Products Limited 1.30%Punjab National Bank 1.29%

Bharat Heavy Electricals Ltd 1.26%Tata Motors Limited 1.22%

Grasim Industries Ltd. 1.17%HCL Technologies Ltd 1.16%Cipla Ltd. 1.14%Tata Steel Limited 1.13%The Indian Hotels Company Limited 1.10%Hindustan Unilever Limited 1.08%

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.

Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX BALANCED - MARCH 31, 2011

Debt46.33%

Equity48.14%

MM & Others5.53%


AA+ 6.41%

Gilt 27.89%


Ranbaxy Laboratories Ltd 1.05%HDFC Bank Ltd 1.04%Others (with < 1% exposure) 8.73%

Debt 46.33%Gilts & SDL 12.92%GOI 10.02%SDL ‐ Gujarat 2.19%SDL ‐ Other States (with < 1% exposure) 0.71%










Rural Electrification Corporation Limited 1.22%


TATA Sons 1.10%



MM & Others 5.53%

Total 100.00%

`

8.65%

8.20%

8.12%

7.24%

6.89%

6.18%

4.80%




Refinery

Computer software

Banking Services




28.40%

19.66%

43.76%

8.18%


9.5

10

10.5

11

11.5

NAV/U

nit ( Rs )


Pen Apex Balanced

AAA 65.70%

3.42%

2.76%

2.74%

Diversified

Passenger cars & multi …

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


Date of Inception :

January 20, 2010

Portfolio % to AUM

`

Minimum Maximum

Debt 87.41% 80% 100% 87.41%

Gilts & SDL 33.10% 0% 20% 12.59%

GOI 19.81%


State Govt ‐ Maharashtra 5.07%

SDL ‐ AP 1.79%





IDFC 6.48%



TATA Sons 2.98%


DEBT

MM & Others


Government securities and high quality corporate debt of varying maturities and also in money

market instruments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX BOND - MARCH 31, 2011

Debt87.41%

MM & Others12.59%


AA+ Debt Rating profile( % of Debt)


Rural Electrification Corporation Limited 2.37%

ACC Limited 2.04%





MM & Others 12.59%

Total 100.00%

`

19.66%

7.71%

7.03%

6.09%

2.98%

2.96%

2.71%

2.04%

1.87%




Refinery



Diversified

Cement

Computer software



23.75% 25.35%

45.73%

5.17%


10

10.5

11

NAV/U

nit ( Rs)


Pen Apex Bond

3.10%

AAA 59.04%

Gilt 37.87%

0.72%

p


9.5

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 is 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.

kamal.hirani

Typewritten Text

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