IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

ULIP Fund
Monthly Fund Performance
September 2022 Edition

THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT.THE POLICYHOLDER WILL NOT BE ABLE TO
SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
From the CIO’s desk

The month gone by – A snapshot

Global markets declined sharply in September as concerns around high inflation forced
global central banks to continue monetary policy tightening. The US Fed as well as
European Central Bank increased policy rates by 75bps and indicated further rate hikes.
The rapid increase in interest rates caused stress in UK financial markets and forced
Bank of England to address ‘material risk to UK financial stability’.

Despite some signs of slowdown in interest rate sensitive sectors, the US economy continues to remain resilient.
Economic activity in Europe continues to deteriorate due to disruption in energy supplies and continuation of
geopolitical tensions. High frequency data points from China shows that fiscal and monetary policy support have
helped in stabilising the economy.

Amidst significant increase in economic uncertainty, global equity markets fell 9% in September, with emerging
markets seeing a sharper 12% decline. Indian equity markets outperformed global peers with a 6% decline, as
flows from foreign institutional investors reversed in September. Crude oil prices declined by 9% to US$ 88 /
barrel, amidst concerns that high interest rates may adversely impact global demand.

Indian economy continues steady recovery

Despite an ‘unsettling global environment’, RBI has projected domestic growth to remain ‘resilient’. Activity in
industry and services sectors continues to expand, with urban consumption set to increase ahead of the festival
season. Credit growth continues to be strong at 16% led by rebound in automobile and home loans. Rural demand
is also expected to improve on the back of improved performance of the agricultural sector.

RBI maintains inflation focus, bond yields harden

RBI raised policy rates by 50 bps last month to 5.90%. RBI expects inflation to ‘moderate’ going ahead, given
moderation in commodity prices as well as easing of global supply chains. However, aggressive monetary policy
tightening by US central bank has led to depreciation in INR. This has the potential to increase imported inflation.

Outlook: Developed market bond yields increased sharply last month with the 10-year US Treasury yield
increasing by over 60bps. The increase in Indian yields was moderate as market continued to derive comfort from
anticipated inclusion of Indian debt in global bond indices. Given the highly uncertain global environment, we
expect yields to remain volatile in the near-term.

Equity markets turn volatile

After witnessing a strong rebound in July and August, Indian equity markets saw a mild correction with Nifty
falling by 2.5% in September. The FMCG (fast moving consumer goods), Pharmaceuticals and Telecom sectors
outperformed while Power & Capital Goods sectors underperformed. FIIs sold equities worth US$ 1.4bn during the
month.

Outlook: The global macro-economic environment remains challenging as tight monetary conditions, energy crisis
in Europe and high volatility in currency and bond markets have impacted investors’ sentiments.

However, Indian economy as well as financial markets have been resilient amidst this global turmoil. Falling
commodity prices augur well for domestic consumption. In the near term, we expect markets to consolidate as
global volatility is likely to keep FII flows and valuations in check. Notwithstanding near-term concerns, we
maintain a positive outlook on Indian equity markets.

Sanjay Kumar
Chief Investment Officer

Glossary Back
Economic and market snapshot

Indicators Sep 2021 Jun 2022 Sep 2022 QoQ Change YoY Change

Economic indicators
Consumer Price Index (CPI) Inflation (%) 5.3 7.0 7.0 0.0 1.7
Gross Domestic Product (GDP Growth) % 20.1 4.1 13.5 9.4 -6.6
Index of Industrial Production (IIP) (%) 11.5 6.7 2.4 -4.3 -9.1
Brent crude oil (USD/barrel) 79 115 88 -23% 11%
Domestic Markets
Nifty Index 17,618 15,780 17,094 8% -3%
S&P BSE Mid-cap Index 25,253 21,713 24,854 14% -2%
10-year G-Sec Yield (%) 6.2 7.4 7.4 0 bps 120 bps
30-year G-Sec Yield (%) 7.0 7.7 7.5 -20 bps 50 bps
10-year AAA PSU Corporate Bond Yield (%) 6.8 7.7 7.6 -10 bps 80 bps
Exchange rate (USD/INR) * 74.2 79.0 81.3 3% 10%
Global Markets
Dow Jones (U.S.) 33,844 30,775 28,726 -7% -15%
FTSE (U.K.) 7,086 7,169 6,894 -4% -3%
Nikkei 225 (Japan) 29,453 26,393 25,937 -2% -12%
Source: Central Statistics Organisation (CSO), RBI, Bloomberg. *Negative growth number signals INR appreciation against USD, while
positive growth number signals depreciation.

10-year government bond yield trend

(%)
10-year benchmark yield
7.7
7.4
7.3

6.9

6.5

6.1

5.7
Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22

Source: Bloomberg

Equity Market performance

NIFTY S&P BSE Mid-cap Index

110

105 Midcaps -2% in 1 year

100

95
Nifty Index -3% in 1 year
90

85

80
Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22

Source: Bloomberg

Glossary Back
 MetInvest
Monthly Fund Performance Newsletter

MARKET OVERVIEW FUND PERFORMANCE OUR POPULAR PRODUCTS

FUND CATEGORY

EQUITY BALANCED DEBT

Mid Cap Balanced Opportunities Bond Opportunities

Virtue II
Balancer II Preserver II
Premier Multi-Cap

Accelerator Protector II
CREST (Thematic)

Multiplier III
Balancer Liquid
Multiplier II
Moderator Discontinued Policy
Flexicap
Preserver
India Opportunities

Virtue Protector

Multiplier
Fund Performance of Key Open Individual Funds

3-year (CAGR)
Sep 2022 Morningstar median Overall Morningstar Rating
Portfolio
returns
Equity

Virtue II 22.9% 15.1% ***** (5 Star)

Mid-Cap 29.2% 21.1% ***** (5 Star)

Premier Multi-Cap 21.9% 15.1% **** (4 Star)

Virtue 16.3% 15.1% *** (3 Star)

Flexi Cap 14.8% 15.0% *** (3 Star)

Multiplier III 16.5% 15.0% *** (3 Star)

CREST (Thematic) 17.2% 15.1% *** (3 Star)

Balanced

Balanced Opportunities Fund 16.1% 9.8% ***** (5 Star)

Balancer II 10.7% 9.8% *** (3 Star)

Debt

Bond Opportunities Fund 5.1% 5.2% *** (3 Star)

Source: Morningstar

Notes:
1. Morningstar Rating is based on Morningstar Risk-Adjusted Return (MRAR) framework. MRAR is a measure of fund’s past performance after adjusting for risk.
2. The above Morningstar Rating is as of August 31, 2022

Morningstar rating methodology: Morningstar sets the distribution of funds across the rating levels, assigning three/five star ratings as follows:
1. All funds in the category are sorted by MRAR % Rank for the respective time period in descending order.
2. Starting with the highest MRAR % Rank, those in the top 10% of such funds receive a 5-star rating.
3. The next 22.5% (i.e., ranking below the top 10% and up to the top 32.5%) of funds receive a 4-star rating, and the following 35% (i.e., ranking below the top 32.5% and up to the top 67.5%) of funds receive a 3-
star rating.
4. The next 22.5% (i.e., ranking below the top 67.5% and up to the top 90%) of funds receive a 2-star rating.
5. The remaining funds (i.e., the bottom 10% of the category) receive a 1-star rating.

Glossary
4 | Page Back
Risk - Return Matrix

Return Open Funds - Funds that are open for sales to new customers

LOW MEDIUM HIGH

LOW MEDIUM HIGH

Risk

Closed Funds - Funds that are closed for sales to new customers

Virtue

Multiplier

Accelerator
Return

Balancer

Moderator

Protector

Preserver

LOW MEDIUM HIGH

Risk

Glossary Back
 Mid Cap Fund (Open Fund)
SFIN No: ULIF02501/01/18MIDCAPFUND117
September 30, 2022

Fund Details
Investment Objective: To provide long term capital appreciation from an actively Inception Date NAV YTM MD AUM
managed portfolio of diversified stocks from the midcap segment of the market 21-Mar-2018 Rs. 20.9822 -- -- Rs. 33 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet Amit Shah Equity - 5 | Debt - 0 | Balanced -2
the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 30
1 Month -0.5% -2.2% Fund Benchmark
6 Months 2.5% 3.1% 20

NAV (Rs.)
1 Year 6.4% -1.6%
2 Years 39.7% 30.0% 10

3 Years 29.2% 20.8%

0
5 Years -- -- Mar-18 May-19 Jun-20 Aug-21 Sep-22
Inception 17.8% 10.2%
Past performance is not indicative of future performance
*Benchmark is S&P BSE Midcap Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) FEDERAL BANK LTD. 3.5%
Security Type Min Max Actual INDUSIND BANK LTD. 2.3%
Equities 60% 100% 94.4% BHARAT ELECTRONICS LTD. 2.1%
Debt 0% 0% 0.0% BANK OF BARODA 1.9%
Money Market 0% 40% 5.6% T V S MOTOR CO. LTD. 1.9%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market AXIS BANK LTD. 1.8%
opportunities and future outlook of the markets. TATA POWER CO. LTD. 1.8%
BAJAJ HOLDINGS & INVST. LTD. 1.7%
INDIAN HOTELS CO. LTD. 1.7%
TATA CONSUMER PRODUCTS LTD. 1.7%
Others 74.0%
Asset Mix Total 94.4%
5.6% Cash and Money Market 5.6%
Portfolio Total 100.0%

94.4%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 20.6%

MFG. OF CHEMICALS & CHEMICAL PROD. 6.7%

COMPUTER PROG AND CONSULTANCY 5.7%

MFG. OF ELECTRICAL EQUIPMENT 5.5%

MFG. OF OTHER TRANSPORT EQUIPMENT 5.4%

MFG. OF MACHINERY & EQUIP. N.E.C. 5.3%

MFG. OF TRAILERS & SEMI-TRAILERS 4.6%

CONSTRUCTION OF BUILDINGS 3.5%

INFRASTRUCTURE RELATED ACTIVITIES 3.4%

MFG. OF PHARMACEUTICALS 2.9%

Others 36.4%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Virtue II (Open Fund)
SFIN No: ULIF01215/12/09VIRTUE2FND117
September 30, 2022

Fund Details
Investment Objective: To generate long term capital appreciation by investing in Inception Date NAV YTM MD AUM
diversified equities of companies promoting healthy life style and enhancing quality 12-Jan-2010 Rs. 44.1029 -- -- Rs. 1447 crore
of life. Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet Amit Shah Equity - 5 | Debt - 0 | Balanced -2
the stated objectives.

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund
50
1 Month -1.8% Fund
40
6 Months -3.6%

NAV (Rs.)
30
1 Year -2.2%
20
2 Years 26.0%
10
3 Years 22.9%
0
5 Years 15.4% Jan-10 Mar-13 May-16 Jul-19 Sep-22
Inception 12.4%
Past performance is not indicative of future performance

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset
Under Management. Security Name Net Asset (%)
Actual v/s Targeted Asset Allocation (%) Equity
Security Type Min Max Actual RELIANCE INDUSTRIES LTD. 5.0%
Equities 60% 100% 98.3% INFOSYS LTD. 4.8%
Money Market Instruments 0% 40% 1.7% MARUTI SUZUKI INDIA LTD. 3.9%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market BHARTI AIRTEL LTD. 3.2%
opportunities and future outlook of the markets. LARSEN & TOUBRO LTD. 2.5%
N T P C LTD. 2.2%
EICHER MOTORS LTD. 2.0%
SUN PHARMACEUTICAL INDS. LTD. 1.9%
CIPLA LTD. 1.8%
HERO MOTOCORP LTD. 1.5%
Asset Mix Others 69.3%
1.7% Total 98.3%
Cash and Money Market 1.7%
Portfolio Total 100.0%

98.3%
Equity Cash and Money Market

Industry Wise Exposure**

COMPUTER PROG AND CONSULTANCY 12.0%

MFG. OF TRAILERS & SEMI-TRAILERS 10.9%

INFRASTRUCTURE RELATED ACTIVITIES 9.1%

MFG. OF CHEMICALS & CHEMICAL PROD. 7.5%

MFG. OF PHARMACEUTICALS 6.9%

MFG. OF ELECTRICAL EQUIPMENT 6.0%

MFG. OF NON-METALLIC MINERAL PROD. 5.5%

MFG. OF COKE & REFINED PETROL PROD 5.2%

MFG. OF MACHINERY & EQUIP. N.E.C. 4.5%

CONSTRUCTION OF BUILDINGS 3.4%

Others 29.1%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Premier Multi-Cap Fund (Open Fund)
SFIN No: ULIF02101/01/18MULTICAPFN117
September 30, 2022

Fund Details
Investment Objective: To generate wealth by investing in companies across market Inception Date NAV YTM MD AUM
capitalisation spectrum with a blend of large-cap and mid-cap companies. 21-Mar-2018 Rs. 19.9834 -- -- Rs. 36 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet
Shashikant Wavhal Equity - 2 | Debt - 0 | Balanced -3
the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 30
1 Month -1.9% -3.3% Fund Benchmark
20

NAV (Rs.)
6 Months 0.7% -0.2%
1 Year 4.7% -1.2%
10
2 Years 30.3% 26.2%
3 Years 21.9% 16.9%
0
5 Years -- -- Mar-18 May-19 Jun-20 Aug-21 Sep-22
Inception 16.5% 11.9%
Past performance is not indicative of future performance
*Benchmark is S&P BSE 500

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) RELIANCE INDUSTRIES LTD. 6.4%
Security Type Min Max Actual H D F C BANK LTD. 6.2%
Equities 60% 100% 97.1% I C I C I BANK LTD. 5.3%
Debt 0% 0% 0.0% INFOSYS LTD. 4.3%
Money Market 0% 40% 2.9% STATE BANK OF INDIA 3.4%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market AXIS BANK LTD. 2.5%
opportunities and future outlook of the markets. HDFC LTD. 2.5%
I T C LTD. 2.4%
LARSEN & TOUBRO LTD. 2.3%
TATA CONSULTANCY SERVICES LTD. 2.0%
Others 59.7%
Asset Mix Total 97.1%
2.9% Cash and Money Market 2.9%
Portfolio Total 100.0%

97.1%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 27.1%

COMPUTER PROG AND CONSULTANCY 10.5%

MFG. OF COKE & REFINED PETROL PROD 6.4%

MFG. OF CHEMICALS & CHEMICAL PROD. 6.1%

MFG. OF TRAILERS & SEMI-TRAILERS 5.1%

INFRASTRUCTURE RELATED ACTIVITIES 3.9%

MFG. OF MACHINERY & EQUIP. N.E.C. 3.0%

MFG. OF PHARMACEUTICALS 2.9%

MFG. OF NON-METALLIC MINERAL PROD. 2.9%

CIVIL ENGINEERING 2.7%

Others 29.3%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 CREST (THEMATIC FUND) (Open Fund)
SFIN No: ULIF02201/01/18CRESTTHEMF117
September 30, 2022

Fund Details
Investment Objective: To generate wealth by investing in companies which will Inception Date NAV YTM MD AUM
benefit from the present evolving economic environment such as rising consumerism 21-Mar-2018 Rs. 17.3848 -- -- Rs. 24 crore
(C), strengthening government reforms (RE), increasing contribution of services (S) in
Fund Manager(s) Funds Managed by the Fund Managers
the economy and new technologies (T).
Amit Shah Equity - 5 | Debt - 0 | Balanced -2
Investment Philosophy: The fund will target 100% investments in Equities to meet Ankur Kulshrestha (Co-FM) Equity - 5 | Debt - 0 | Balanced -3
the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 20
Fund Benchmark
1 Month -1.6% -3.5%
6 Months 0.7% -0.4% 15

NAV (Rs.)
1 Year 2.5% -2.0%
2 Years 28.6% 23.9% 10
3 Years 17.2% 14.6%
5 Years -- -- 5
Mar-18 Dec-18 Sep-19 Jun-20 Mar-21 Dec-21 Sep-22
Inception 13.0% 11.2%
Past performance is not indicative of future performance
*Benchmark is Nifty 50 (2/3rd) and Nifty Next 50 (1/3rd) for Equity
MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management.
Equity
H D F C BANK LTD. 6.1%
Actual v/s Targeted Asset Allocation (%) I C I C I BANK LTD. 5.1%
Security Type Min Max Actual RELIANCE INDUSTRIES LTD. 5.0%
Equities 60% 100% 99.4% INFOSYS LTD. 3.7%
Debt 0% 0% 0.0% AXIS BANK LTD. 3.0%
Money Market 0% 40% 0.6% NIPPON INDIA NIFTY IT ETF 2.7%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market I T C LTD. 2.6%
opportunities and future outlook of the markets.
BANK OF BARODA 2.3%
LARSEN & TOUBRO LTD. 2.2%
STATE BANK OF INDIA 2.0%
Asset Mix Others 64.6%
0.6% Total 99.4%
Cash and Money Market 0.6%
Portfolio Total 100.0%

99.4%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 27.8%

COMPUTER PROG AND CONSULTANCY 9.1%

MUTUAL FUND 6.6%

MFG. OF TRAILERS & SEMI-TRAILERS 6.4%

MFG. OF COKE & REFINED PETROL PROD 5.3%

INFRASTRUCTURE RELATED ACTIVITIES 4.2%

MFG. OF MACHINERY & EQUIP. N.E.C. 3.6%

MFG. OF PHARMACEUTICALS 3.5%

MFG. OF NON-METALLIC MINERAL PROD. 2.8%

MANUFACTURE OF TOBACCO PRODUCTS 2.6%

Others 28.0%

0.0% 10.0% 20.0% 30.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Multiplier III Fund (Open Fund)
SFIN No: ULIF01809/10/15MULTIPLIE3117
September 30, 2022

Fund Details
Investment Objective: To generate long term capital appreciation by investing in Inception Date NAV YTM MD AUM
diversified equities (predominantly large caps). 26-Jul-2016 Rs. 20.1868 -- -- Rs. 41 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet
Amit Shah Equity - 5 | Debt - 0 | Balanced -2
the stated objectives.
Ankur Kulshrestha (Co-FM) Equity - 5 | Debt - 0 | Balanced -3

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 30
Fund Benchmark
1 Month -1.9% -3.7%
20

NAV (Rs.)
6 Months -0.3% -2.1%
1 Year 1.0% -3.0%
10
2 Years 27.3% 23.3%
3 Years 16.5% 14.2%
0
5 Years 12.1% 11.8% Jul-16 Feb-18 Aug-19 Mar-21 Sep-22
Inception 12.0% 11.8%
Past performance is not indicative of future performance
*Benchmark is Nifty 50

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) I C I C I BANK LTD. 7.7%
Security Type Min Max Actual RELIANCE INDUSTRIES LTD. 7.1%
Equities 60% 100% 96.8% H D F C BANK LTD. 5.8%
Money Market Instruments 0% 40% 3.2% INFOSYS LTD. 5.1%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market I T C LTD. 4.8%
opportunities and future outlook of the markets. NIPPON INDIA NIFTY IT ETF 3.5%
AXIS BANK LTD. 3.4%
STATE BANK OF INDIA 2.9%
KOTAK BANKING ETF 2.7%
BHARTI AIRTEL LTD. 2.5%
Others 51.3%
Asset Mix Total 96.8%
3.2% Cash and Money Market 3.2%
Portfolio Total 100.0%

96.8%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 29.2%

COMPUTER PROG AND CONSULTANCY 10.0%

MFG. OF TRAILERS & SEMI-TRAILERS 9.1%

MUTUAL FUND 8.0%

MFG. OF COKE & REFINED PETROL PROD 7.4%

INFRASTRUCTURE RELATED ACTIVITIES 5.7%

MANUFACTURE OF TOBACCO PRODUCTS 4.8%

MFG. OF PHARMACEUTICALS 3.3%

CIVIL ENGINEERING 2.2%

MFG. OF NON-METALLIC MINERAL PROD. 1.9%

Others 18.4%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Multiplier II (Open Fund)
SFIN No: ULIF01115/12/09MULTIPLIE2117
September 30, 2022

Fund Details
Investment Objective: To generate long term capital appreciation by investing in Inception Date NAV YTM MD AUM
diversified equities. 21-Dec-2009 Rs. 31.7538 -- -- Rs. 628 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet
Amit Shah Equity - 5 | Debt - 0 | Balanced -2
the stated objectives.

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 40
Fund Benchmark
1 Month -2.8% -3.7% 30

NAV (Rs.)
6 Months 1.0% -2.1%
20
1 Year 0.2% -3.0%
2 Years 26.6% 23.3% 10
3 Years 15.7% 14.2%
0
5 Years 11.9% 11.8% Dec-09 Feb-13 Apr-16 Jun-19 Sep-22
Since 05-Jan-10 9.5% 9.7%
Inception 9.5% 10.1%
Past performance is not indicative of future performance
*Benchmark is Nifty 50 Security Name Net Asset (%)
MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Equity
Under Management. RELIANCE INDUSTRIES LTD. 8.5%
Actual v/s Targeted Asset Allocation (%) I C I C I BANK LTD. 7.3%
Security Type Min Max Actual INFOSYS LTD. 6.3%
Equities 60% 100% 97.9% I T C LTD. 5.9%
Money Market Instruments 0% 40% 2.1% SBI NIFTY BANK ETF 5.0%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market H D F C BANK LTD. 4.5%
opportunities and future outlook of the markets. LARSEN & TOUBRO LTD. 4.4%
BHARTI AIRTEL LTD. 4.0%
STATE BANK OF INDIA 3.9%
MARUTI SUZUKI INDIA LTD. 3.3%
Others 44.8%
Total 97.9%
Asset Mix Cash and Money Market 2.1%
2.1%
Portfolio Total 100.0%

97.9%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 27.9%

COMPUTER PROG AND CONSULTANCY 10.8%

MFG. OF TRAILERS & SEMI-TRAILERS 9.9%

MFG. OF COKE & REFINED PETROL PROD 8.5%

MUTUAL FUND 7.9%

INFRASTRUCTURE RELATED ACTIVITIES 7.6%

MANUFACTURE OF TOBACCO PRODUCTS 5.9%

MFG. OF PHARMACEUTICALS 4.6%

CIVIL ENGINEERING 4.4%

MFG. OF CHEMICALS & CHEMICAL PROD. 4.1%

Others 8.3%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Flexi Cap (Open Fund)
SFIN No: ULIF01315/12/09FLEXICAPFN117
September 30, 2022

Fund Details
Investment Objective: To generate long-term capital appreciation from an actively Inception Date NAV YTM MD AUM
managed portfolio of diversified stocks across the market capitalization spectrum. 22-Dec-2009 Rs. 34.078 -- -- Rs. 1120 crore
Fund Manager(s) Funds Managed by the Fund Managers
Deb Bhattacharya Equity - 3 | Debt - 0 | Balanced -3
Investment Philosophy: The fund will target 100% investments in Equities to meet
Ankur Kulshrestha (Co-FM) Equity - 5 | Debt - 0 | Balanced -3
the stated objectives.

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 40
Fund Benchmark
1 Month -3.2% -3.6%
30

NAV (Rs.)
6 Months -1.9% -0.2%
1 Year -2.5% -1.2% 20

2 Years 24.4% 25.4% 10

3 Years 14.8% 16.2%
0
5 Years 10.6% 11.9% Dec-09 Feb-13 May-16 Jul-19 Sep-22
Since 05-Jan-10 10.0% 10.0%
Inception 10.1% 10.5%
Past performance is not indicative of future performance
* Benchmark is S&P BSE 200 Security Name Net Asset (%)
MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Equity
Under Management. I C I C I BANK LTD. 7.4%
Actual v/s Targeted Asset Allocation (%) RELIANCE INDUSTRIES LTD. 7.3%
Security Type Min Max Actual INFOSYS LTD. 5.7%
Equity 60% 100% 96.1% STATE BANK OF INDIA 5.0%
Cash & Money Market 0% 40% 3.9% LARSEN & TOUBRO LTD. 3.7%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market BHARTI AIRTEL LTD. 3.6%
opportunities and future outlook of the markets. H D F C BANK LTD. 3.3%
I T C LTD. 3.2%
AXIS BANK LTD. 3.0%
TATA CONSULTANCY SERVICES LTD. 2.5%
Others 51.5%
Total 96.1%
Asset Mix Cash and Money Market 3.9%
3.9% Portfolio Total 100.0%

96.1%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 28.5%

COMPUTER PROG AND CONSULTANCY 10.4%

MFG. OF COKE & REFINED PETROL PROD 8.1%

INFRASTRUCTURE RELATED ACTIVITIES 7.8%

MFG. OF TRAILERS & SEMI-TRAILERS 5.1%

MFG. OF CHEMICALS & CHEMICAL PROD. 4.8%

CIVIL ENGINEERING 4.6%

MFG. OF PHARMACEUTICALS 3.5%

MANUFACTURE OF TOBACCO PRODUCTS 3.2%

MFG. OF ELECTRICAL EQUIPMENT 3.0%

Others 21.1%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 India Opportunities Fund (Open Fund)
SFIN No: ULIF02710/12/21INDOPPFUND117
September 30, 2022

Fund Details
Investment Objective: The fund will seek to generate wealth by investing in Inception Date NAV YTM MD AUM
companies which will benefit from the evolving economic situation such as increasing 26-Aug-2022 Rs. 9.822 -- -- Rs. 7 crore
digitisation, strengthening economic reforms, strong focus on Atmanirbhar Bharat and
Fund Manager(s) Funds Managed by the Fund Managers
Make-in-India.
Shashikant Wavhal Equity - 2 | Debt - 0 | Balanced -3
Investment Philosophy: The fund will target 100% investments in Equities to meet
the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 12
1 Month -2.2% -3.6% Fund Benchmark
11
6 Months - -

NAV (Rs.)
1 Year - - 10
2 Years - - 9
3 Years - -
8
5 Years - -
Aug-22 Sep-22 Sep-22 Sep-22
Inception -1.8% -2.3%
Past performance is not indicative of future performance
* Benchmark is S&P BSE 100

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) INFOSYS LTD. 4.8%
Security Type Min Max Actual I C I C I BANK LTD. 4.4%
Listed Equities 60% 100% 92.3% SBI NIFTY BANK ETF 4.3%
Government and other Debt Securities 0% 0% 0.0% NIPPON INDIA BANK BEES ETF 3.8%
Money Market and other liquid assets 0% 40% 7.7% I T C LTD. 3.2%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market RELIANCE INDUSTRIES LTD. 2.7%
opportunities and future outlook of the markets. KOTAK BANKING ETF 2.7%
HINDUSTAN UNILEVER LTD. 2.4%
BAJAJ FINANCE LTD. 2.3%
H D F C BANK LTD. 2.2%
Others 59.6%
Asset Mix Total 92.3%
7.7% Cash and Money Market 7.7%
Portfolio Total 100.0%

92.3%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 18.4%

MUTUAL FUND 10.8%

COMPUTER PROG AND CONSULTANCY 9.6%

MFG. OF TRAILERS & SEMI-TRAILERS 5.5%

MFG. OF CHEMICALS & CHEMICAL PROD. 4.9%

MFG. OF NON-METALLIC MINERAL PROD. 3.6%

INFRASTRUCTURE RELATED ACTIVITIES 3.4%

MFG. OF ELECTRICAL EQUIPMENT 3.3%

MFG. OF PHARMACEUTICALS 3.2%

MANUFACTURE OF TOBACCO PRODUCTS 3.2%

Others 34.2%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Balanced Opportunities Fund (Open Fund)
SFIN No: ULIF02301/01/18BALANCEOPP117
September 30, 2022

Fund Details
Investment Objective: To generate capital appreciation and current income through Inception Date NAV YTM MD AUM
a judicious mix of investments in equities and fixed income securities. 21-Mar-2018 Rs. 17.6989 7.3% 4.6 Rs. 6.6 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 60% investments in Equities and 40%
Amit Shah Equity - 5 | Debt - 0 | Balanced -2
investments in Debt securities to meet the stated objectives
Gaurav Balre Equity - 0 | Debt - 3 | Balanced -5

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 20
Fund Benchmark
1 Month -1.1% -2.1%
15
6 Months 0.8% -0.1%

NAV (Rs.)
1 Year 2.2% -0.3% 10
2 Years 20.9% 17.6%
5
3 Years 16.1% 12.8%
5 Years -- -- 0
Mar-18 Dec-18 Sep-19 Jun-20 Mar-21 Dec-21 Sep-22
Inception 13.4% 10.1%
Past performance is not indicative of future performance
*Benchmark is 60% BSE 500 and 40% CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) I C I C I BANK LTD. 4.4%
Security Type Min Max Actual H D F C BANK LTD. 4.2%
Equities 40% 75% 72.1% RELIANCE INDUSTRIES LTD. 2.4%
Debt 25% 60% 25.5% DREAMFOLKS SERVICES LTD 2.1%
Money Market 0% 35% 2.4% INFOSYS LTD. 1.9%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market AXIS BANK LTD. 1.9%
opportunities and future outlook of the markets. I T C LTD. 1.8%
STATE BANK OF INDIA 1.7%
LARSEN & TOUBRO LTD. 1.4%
FEDERAL BANK LTD. 1.4%
Others 48.9%
Asset Mix Total 72.1%
2.4% Government Securities
25.5% 6.54% GOI 2032 12.1%
5.74% GOI 2026 2.9%
8.4% GOI 2025 2.4%
7.29% SDL 2026 2.0%
72.1% 7.26% GOI 2029 1.5%
7.88% GOI 2030 1.2%

Equity Debt Cash and Money Market

7.99% SDL 2025 0.8%
6.99% SDL 2036 0.4%
Total 23.3%
Industry Wise Exposure** Corporate Bonds
BAJAJ FINANCE LTD. AAA 1.2%
FINANCIAL AND INSURANCE ACTIVITIES 21.2% IRFC LTD. AAA 0.8%
CENTRAL GOVERNMENT SECURITIES 20.1% BRITANNIA INDUSTRIES LTD. AAA 0.2%

COMPUTER PROG AND CONSULTANCY 7.3%

Total 2.2%
Cash and Money Market 2.4%
MFG. OF TRAILERS & SEMI-TRAILERS 5.4%
Portfolio Total 100.0%
INFRASTRUCTURE RELATED ACTIVITIES 3.7%

MFG. OF CHEMICALS & CHEMICAL PROD. 3.4%

STATE GOVERNMENT SECURITIES 3.2%

MFG. OF MACHINERY & EQUIP. N.E.C. 2.8%

MFG. OF COKE & REFINED PETROL PROD 2.7%

MFG. OF ELECTRICAL EQUIPMENT 2.5%

Others 27.7%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

8.9% 8.5%
12.1%

49.4%

29.6%

91.5%
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years Government Securities AAA

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 Balancer II (Open Fund)
SFIN No: ULIF01015/12/09BALANCER2F117
September 30, 2022

Fund Details
Investment Objective: To generate capital appreciation and current income, through Inception Date NAV YTM MD AUM
a judicious mix of investments in equities and fixed income securities. 20-Dec-2009 Rs. 28.2955 7.6% 4.5 Rs. 604 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 50% investments in Equities and 50%
Amit Shah Equity - 5 | Debt - 0 | Balanced -2
investments in Government & other debt securities to meet the stated objectives.
Gaurav Balre Equity - 0 | Debt - 3 | Balanced -5

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 35
Fund Benchmark
1 Month -1.7% -2.1%
25

NAV (Rs.)
6 Months -1.2% -1.1%
1 Year -1.4% -1.0%
15
2 Years 14.4% 13.8%
3 Years 10.7% 10.3%
5
5 Years 8.5% 9.2% Dec-09 Feb-13 May-16 Jul-19 Sep-22
Since 05-Jan-10 8.5% 8.7%
Inception 8.5% 9.0%
Past performance is not indicative of future performance
* Benchmark is 50% Nifty 50 and 50% CRISIL Composite Bond Fund Index Security Name Rating Net Asset (%)
MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Equity
Under Management. RELIANCE INDUSTRIES LTD. 4.5%
Actual v/s Targeted Asset Allocation (%) I C I C I BANK LTD. 4.5%
Security Type Min Max Actual INFOSYS LTD. 3.3%
Government & Other Debt Securities 0% 60% 40.8% H D F C BANK LTD. 3.0%
Equity 0% 60% 55.9% I T C LTD. 2.4%
Cash & Money Market 0% 40% 3.3% SBI NIFTY BANK ETF 1.9%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market ICICI PRUDENTIAL NIFTY BANK ETF 1.8%
opportunities and future outlook of the markets. AXIS BANK LTD. 1.7%
BHARTI AIRTEL LTD. 1.6%
MARUTI SUZUKI INDIA LTD. 1.6%
Others 29.6%
Total 55.9%
Asset Mix Government Securities
7.38% GOI 2027 7.2%
3.3%
8.08% SDL 2028 2.5%
9.2% GOI 2030 1.8%
40.8%
7.62% SDL 2027 1.7%
55.9% 6.54% GOI 2032 1.5%
6.95% GOI 2061 1.5%
8.38% SDL 2026 0.9%
8.27% SDL 2026 0.8%
Equity Debt Cash and Money Market 8.25% SDL 2025 0.8%
7.54% GOI 2036 0.8%
Industry Wise Exposure** Others 4.7%
Total 24.3%
FINANCIAL AND INSURANCE ACTIVITIES 24.9% Corporate Bonds
CENTRAL GOVERNMENT SECURITIES 16.2% INDIABULLS HOUSING FINANCE LTD AA 3.5%
STATE GOVERNMENT SECURITIES 8.1% SHRIRAM TRANSPORT FINANCE CO. LTD. AA+ 2.6%
INFRASTRUCTURE RELATED ACTIVITIES 7.4% POWER GRID CORPN. OF INDIA LTD. AAA 1.7%
COMPUTER PROG AND CONSULTANCY 6.1%
L I C HOUSING FINANCE LTD. AAA 1.7%
NABARD AAA 1.6%
MUTUAL FUND 6.1%
REC LTD. AAA 0.9%
MFG. OF TRAILERS & SEMI-TRAILERS 5.0%
SUNDARAM FINANCE LTD AAA 0.9%
MFG. OF COKE & REFINED PETROL PROD 4.5%
JAMMU & KASHMIR BANK LTD. A+ 0.8%
MANUFACTURE OF TOBACCO PRODUCTS 2.4% POWER FINANCE CORPN. LTD. AAA 0.8%
INVESTMENTS IN HOUSING FINANCE 2.3% EXPORT-IMPORT BANK OF INDIA AAA 0.8%
Others 17.0% Others 1.3%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%
Total 16.5%
Cash and Money Market 3.3%
Portfolio Total 100.0%
**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

6.3% 2.0%
9.5%

22.4% 4.9% 8.8%

22.7% 59.5%

Government Securities AAA AA AA+ A+

64.0%
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years

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 Bond Opportunities Fund (Open Fund)
SFIN No: ULIF02401/01/18BONDOPPORT117
September 30, 2022

Fund Details
Investment Objective: To provide higher accrual along with safety arising from high Inception Date NAV YTM MD AUM
allocation to corporate bonds. The fund will invest up to 100% of the corpus in debt 21-Mar-2018 Rs. 13.3168 7.2% 3.7 Rs. 4.6 crore
and money market securities Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Debt securities to Gaurav Balre Equity - 0 | Debt - 3 | Balanced -5
meet the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 15
Fund Benchmark
1 Month -0.4% -0.4%
6 Months -0.3% 0.0% 13

NAV (Rs.)
1 Year 1.0% 1.0%
2 Years 3.1% 3.4% 11
3 Years 5.1% 6.0%
5 Years -- -- 9
Mar-18 May-19 Jun-20 Aug-21 Sep-22
Inception 6.5% 7.2%
Past performance is not indicative of future performance
*Benchmark is CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Government Securities
Actual v/s Targeted Asset Allocation (%) 7.38% GOI 2027 54.4%
Security Type Min Max Actual 7.26% GOI 2032 10.8%
Equities 0% 0% 0.0% 7.29% SDL 2026 5.4%
Debt 80% 100% 90.3% 6.99% GOI 2051 0.0%
Money Market 0% 20% 9.7% Total 70.6%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market Corporate Bonds
opportunities and future outlook of the markets. SMALL INDUSTRIES DEVP. BANK OF INDIA AAA 8.6%
EXPORT-IMPORT BANK OF INDIA AAA 5.4%
HDFC LTD. AAA 4.1%
BAJAJ FINANCE LTD. AAA 1.7%
Total 19.7%
Asset Mix Cash and Money Market 9.7%
9.7% Portfolio Total 100.0%

90.3%
Debt Cash and Money Market

Industry Wise Exposure**

CENTRAL GOVERNMENT SECURITIES 65.2%

FINANCIAL AND INSURANCE ACTIVITIES 15.7%

STATE GOVERNMENT SECURITIES 5.4%

INVESTMENTS IN HOUSING FINANCE 4.1%

Others 9.7%

0.0% 20.0% 40.0% 60.0% 80.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

10.9% 8.6% 21.9%
5.5%

78.1%

75.0%
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years Government Securities AAA

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 Preserver II (Open Fund)
SFIN No: ULIF00815/12/09PRESERVER2117
September 30, 2022

Fund Details
Investment Objective: To generate income at a level consistent with preservation of Inception Date NAV YTM MD AUM
capital, through investments in securities issued or guaranteed by central and state 11-Jan-2010 Rs. 23.5459 7.1% 3.4 Rs. 78 crore
Governments. Fund Manager(s) Funds Managed by the Fund Managers

Investment Philosophy: The fund will target 100% investments in Government & Gaurav Balre Equity - 0 | Debt - 3 | Balanced -5

Govt. Guaranteed Securities to meet the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 30
Fund Benchmark
1 Month -0.4% -0.5% 25

NAV (Rs.)
6 Months -0.4% -0.2% 20
1 Year 0.6% 1.0% 15
2 Years 2.8% 3.5% 10
3 Years 4.7% 5.9%
5
5 Years 5.4% 6.8% Jan-10 Mar-13 May-16 Jul-19 Sep-22
Inception 7.0% 8.1%
Past performance is not indicative of future performance
*Benchmark is ISEC Mibex

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Government Securities
Actual v/s Targeted Asset Allocation (%) 7.38% GOI 2027 27.9%
Security Type Min Max Actual 5.74% GOI 2026 14.9%
Govt & Govt Guaranteed Secs 60% 100% 91.7% 6.18% GOI 2024 12.6%
Money Market Investments 0% 40% 8.3% 7.1% GOI 2029 10.2%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market 5.15% GOI 2025 9.9%
opportunities and future outlook of the markets. 7.59% GOI 2026 6.5%
7.6% SDL 2032 4.3%
7.61% SDL 2032 4.2%
6.95% GOI 2061 1.2%
Total 91.7%
Cash and Money Market 8.3%
Asset Mix Portfolio Total 100.0%
8.3%

91.7%
Debt Cash and Money Market

Industry Wise Exposure**

CENTRAL GOVERNMENT SECURITIES 86.2%

STATE GOVERNMENT SECURITIES 8.4%

Others 5.4%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

9.3% 11.1%
12.2%

67.3% 100.0%
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years Government Securities

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 Protector II (Open Fund)
SFIN No: ULIF00915/12/09PROTECTOR2117
September 30, 2022

Fund Details
Investment Objective: To earn regular income by investing in high quality fixed Inception Date NAV YTM MD AUM
income securities 11-Jan-2010 Rs. 24.1797 7.5% 4.3 Rs. 794 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Government &
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3
other debt securities to meet the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 30
Fund Benchmark
1 Month -0.6% -0.4%
22

NAV (Rs.)
6 Months -0.6% 0.0%
1 Year 0.2% 1.0%
14
2 Years 4.3% 3.4%
3 Years 5.0% 6.0%
6
5 Years 4.9% 6.4% Jan-10 Mar-13 May-16 Jul-19 Sep-22
Inception 7.2% 7.6%
Past performance is not indicative of future performance
*Benchmark is CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Government Securities
Actual v/s Targeted Asset Allocation (%) 5.74% GOI 2026 6.0%
Security Type Min Max Actual 7.38% GOI 2027 5.2%
Government & Other Debt Securities 60% 100% 82.1% 6.54% GOI 2032 4.8%
Cash & Money Market 0% 40% 17.9% 7.26% GOI 2032 4.7%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market 7.54% GOI 2036 4.0%
opportunities and future outlook of the markets. 6.79% GOI 2029 1.8%
7.4% GOI 2062 1.0%
7.36% GOI 2052 0.8%
8.22% SDL 2026 0.6%
4.56% GOI 2023 0.6%
Others 0.6%
Asset Mix Total 30.2%

17.9%
Corporate Bonds
SIKKA PORTS & TERMINALS LTD. AAA 9.0%
INDIABULLS HOUSING FINANCE LTD AA 7.1%
HDFC LTD. AAA 6.1%
N T P C LTD. AAA 4.4%
L&T INFRA DEBT FUND LTD AAA 3.3%
82.1% EXPORT-IMPORT BANK OF INDIA AAA 3.1%
SHRIRAM TRANSPORT FINANCE CO. LTD. AA+ 3.0%
Debt Cash and Money Market
BAJAJ FINANCE LTD. AAA 2.6%
TATA STEEL LTD. AA+ 2.6%
Industry Wise Exposure** L I C HOUSING FINANCE LTD. AAA 2.4%
Others 8.4%
CENTRAL GOVERNMENT SECURITIES 30.7% Total 51.9%
Cash and Money Market 17.9%
FINANCIAL AND INSURANCE ACTIVITIES 22.1% Portfolio Total 100.0%

INFRASTRUCTURE RELATED ACTIVITIES 19.9%

INVESTMENTS IN HOUSING FINANCE 8.5%

MANUFACTURE OF BASIC METALS 2.6%

STATE GOVERNMENT SECURITIES 0.6%

Others 15.6%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

7.4% 5.2% 17.3%
27.0%

45.6%

37.1%

60.3%

< 1 Year 1 to 3 years 3 to 7 Years > 7 Years AAA/A1+ Government Securities AA+/AA

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 Liquid Fund (Open Fund)
SFIN No: ULIF01909/10/15LIQUIDFUND117
September 30, 2022

Fund Details
Investment Objective: To generate stable returns by investing in very short term Inception Date NAV YTM MD AUM
debt and money market instruments. 26-Jul-2016 Rs. 12.7506 5.1% 0.5 Rs. 1.2 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Government &
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3
other debt securities to meet the stated objectives.

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 20
Fund Benchmark
1 Month 0.3% 0.4%
6 Months 1.8% 2.3% 15

NAV (Rs.)
1 Year 3.0% 4.1%
10
2 Years 2.6% 3.6%
3 Years 2.7% 3.7%
5
5 Years 3.8% 4.7% Jul-16 Feb-18 Aug-19 Mar-21 Sep-22
Inception 4.0% 4.9%
Past performance is not indicative of future performance
* Benchmark is CRISIL Overnight Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management. Cash and Money Market 100.0%
Actual v/s Targeted Asset Allocation (%) Portfolio Total 100.0%
Security Type Min Max Actual
Money Market Instruments 0% 100% 100.0%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market
opportunities and future outlook of the markets.

Asset Mix

100.0%
Cash and Money Market

Industry Wise Exposure**

CENTRAL GOVERNMENT SECURITIES 79.8%

Others 20.2%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

100.0%
100.0%
< 1 Year Government Securities

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 Discontinued Policy Fund (Open Fund)
SFIN No: ULIF01721/12/10DISCONTINU117
September 30, 2022

Fund Details
Investment Objective: To generate income at a level consistent with the Inception Date NAV YTM MD AUM
preservation of capital, along with a minimum interest of 4% per annum. 21-Dec-2010 Rs. 20.3304 5.5% 0.6 Rs. 1083 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Government &
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3
other debt securities to meet the stated objectives.

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund 25
1 Month 0.3% Fund
20
6 Months 1.5%

NAV (Rs.)
1 Year 3.2% 15
2 Years 3.6%
10
3 Years 3.8%
5 Years 4.7% 5
Dec-10 Nov-13 Nov-16 Oct-19 Sep-22
Inception 6.2%
Past performance is not indicative of future performance

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset
Under Management. Security Name Net Asset (%)
Actual v/s Targeted Asset Allocation (%) Government Securities
Security Type Min Max Actual 6.17% GOI 2023 3.2%
Government Securities 0% 25% 6.0% 7.89% SDL 2025 2.3%
Money Market Instruments 0% 100% 94.0% 5.95% SDL 2025 0.4%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market Total 6.0%
opportunities and future outlook of the markets. Cash and Money Market 94.0%
Portfolio Total 100.0%

Asset Mix
6.0%

94.0%
Debt Cash and Money Market

Industry Wise Exposure**

CENTRAL GOVERNMENT SECURITIES 65.9%

FINANCIAL AND INSURANCE ACTIVITIES 27.5%

STATE GOVERNMENT SECURITIES 2.8%

Others 3.9%

0.0% 20.0% 40.0% 60.0% 80.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

2.8%
28.6%

71.4%

97.2%
< 1 Year 1 to 3 years Government Securities A1+

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 Virtue (Closed Fund)
SFIN No: ULIF00719/02/08VIRTUEFUND117
September 30, 2022

Fund Details
Investment Objective: To generate long term capital appreciation by investing in Inception Date NAV YTM MD AUM
diversified equities of companies promoting healthy life style and enhancing 27-Feb-2008 Rs. 35.9082 -- -- Rs. 73 crore
quality of life. Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet Deb Bhattacharya Equity - 3 | Debt - 0 | Balanced -3
the stated objectives. Ankur Kulshrestha (Co-FM) Equity - 5 | Debt - 0 | Balanced -3

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund 40
1 Month -3.7% Fund
30
6 Months -3.9%

NAV (Rs.)
1 Year -6.1% 20
2 Years 19.6% 10
3 Years 16.3%
0
5 Years 11.7%
Feb-08 Oct-11 May-15 Jan-19 Sep-22
Inception 9.2%
Past performance is not indicative of future performance

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset
Under Management. Security Name Net Asset (%)
Actual v/s Targeted Asset Allocation (%) Equity
Security Type Min Max Actual RELIANCE INDUSTRIES LTD. 7.9%
Listed Equities 60% 100% 92.7% INFOSYS LTD. 5.6%
Money Market Instruments 0% 40% 7.3% BHARTI AIRTEL LTD. 3.9%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market LARSEN & TOUBRO LTD. 3.8%
opportunities and future outlook of the markets. MARUTI SUZUKI INDIA LTD. 3.5%
TATA CONSULTANCY SERVICES LTD. 3.1%
SUN PHARMACEUTICAL INDS. LTD. 2.5%
N T P C LTD. 1.9%
PHOENIX MILLS LTD. 1.9%
HINDUSTAN UNILEVER LTD. 1.8%
Asset Mix Others 56.7%
7.3% Total 92.7%
Cash and Money Market 7.3%
Portfolio Total 100.0%

92.7%
Equity Cash and Money Market

Industry Wise Exposure**

COMPUTER PROG AND CONSULTANCY 12.8%

INFRASTRUCTURE RELATED ACTIVITIES 10.9%

MFG. OF COKE & REFINED PETROL PROD 9.7%

MFG. OF CHEMICALS & CHEMICAL PROD. 8.8%

MFG. OF PHARMACEUTICALS 7.4%

MFG. OF TRAILERS & SEMI-TRAILERS 6.5%

CIVIL ENGINEERING 5.1%

MFG. OF ELECTRICAL EQUIPMENT 4.7%

CONSTRUCTION OF BUILDINGS 4.6%

MFG. OF NON-METALLIC MINERAL PROD. 4.0%

Others 25.7%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Multiplier (Closed Fund)
SFIN No: ULIF00625/01/05MULTIPLIER117
September 30, 2022

Fund Details
Investment Objective: To generate long term capital appreciation by investing in Inception Date NAV YTM MD AUM
diversified equities. 07-Feb-2005 Rs. 68.8944 -- -- Rs. 1275 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Equities to meet
Deb Bhattacharya Equity - 3 | Debt - 0 | Balanced -3
the stated objectives.
Ankur Kulshrestha (Co-FM) Equity - 5 | Debt - 0 | Balanced -3

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 100
Fund Benchmark
1 Month -3.5% -3.7%
75
6 Months -1.6% -2.1%

NAV (Rs.)
1 Year -1.4% -3.0% 50
2 Years 25.9% 23.3% 25
3 Years 14.8% 14.2%
0
5 Years 11.5% 11.8% Feb-05 Jul-09 Nov-13 Apr-18 Sep-22
Inception 11.5% 12.7%
Past performance is not indicative of future performance
* Benchmark is Nifty 50 for Equity

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) I C I C I BANK LTD. 8.6%
Security Type Min Max Actual RELIANCE INDUSTRIES LTD. 7.9%
Listed Equities 80% 100% 97.0% INFOSYS LTD. 7.2%
Money Market Investments 0% 40% 3.0% I T C LTD. 4.7%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market LARSEN & TOUBRO LTD. 4.4%
opportunities and future outlook of the markets. H D F C BANK LTD. 4.2%
BHARTI AIRTEL LTD. 3.9%
TATA CONSULTANCY SERVICES LTD. 3.7%
STATE BANK OF INDIA 3.5%
AXIS BANK LTD. 2.9%
Others 46.0%
Asset Mix Total 97.0%
3.0% Cash and Money Market 3.0%
Portfolio Total 100.0%

97.0%
Equity Cash and Money Market

Industry Wise Exposure**

FINANCIAL AND INSURANCE ACTIVITIES 28.8%

COMPUTER PROG AND CONSULTANCY 13.8%

MFG. OF COKE & REFINED PETROL PROD 8.7%

INFRASTRUCTURE RELATED ACTIVITIES 6.9%

MUTUAL FUND 5.9%

MFG. OF TRAILERS & SEMI-TRAILERS 5.5%

MFG. OF CHEMICALS & CHEMICAL PROD. 5.0%

MANUFACTURE OF TOBACCO PRODUCTS 4.7%

CIVIL ENGINEERING 4.4%

MFG. OF PHARMACEUTICALS 4.2%

Others 12.3%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

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 Accelerator (Closed Fund)
SFIN No: ULIF00525/01/05ACCELERATO117
September 30, 2022

Fund Details
Investment Objective: To achieve capital appreciation by investing predominantly in Inception Date NAV YTM MD AUM
equities, with limited investment in fixed income securities. 07-Feb-2005 Rs. 60.9232 7.2% 4.0 Rs. 159 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 80% investments in Equities and 20%
Shashikant Wavhal Equity - 2 | Debt - 0 | Balanced -3
investments in Government & other debt securities to meet the stated objectives.
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 80
Fund Benchmark
1 Month -3.1% -3.1%
6 Months -1.9% -1.7% 55

NAV (Rs.)
1 Year -1.1% -2.2%
2 Years 20.9% 19.6% 30
3 Years 11.9% 12.7%
5 Years 9.4% 10.8% 5
Inception 10.8% 11.9% Feb-05 Jan-08 Dec-10 Nov-13 Oct-16 Oct-19 Sep-22

Past performance is not indicative of future performance

*Benchmark is 80% Nifty 50 and 20% CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) RELIANCE INDUSTRIES LTD. 9.0%
Security Type Min Max Actual INFOSYS LTD. 6.4%
Govt & Govt Guaranteed Secs 0% 40% 7.6% H D F C BANK LTD. 6.4%
Infrastructure and Social Sector Secs 0% 40% 0.4% I C I C I BANK LTD. 6.0%
Listed Equities 60% 95% 83.2% I T C LTD. 4.2%
Long Term Bonds 0% 60% 4.9% STATE BANK OF INDIA 3.9%
Short Term Bonds 0% 35% 0.0% HDFC LTD. 3.4%
Money Market Investments 0% 40% 3.9% LARSEN & TOUBRO LTD. 3.0%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market TATA CONSULTANCY SERVICES LTD. 2.8%
opportunities and future outlook of the markets. HINDUSTAN UNILEVER LTD. 2.7%
Others 35.4%
Asset Mix Total 83.2%
12.9% 3.9% Government Securities
7.26% GOI 2029 3.1%
6.54% GOI 2032 1.8%
7.57% GOI 2033 1.4%
7.3% SDL 2032 1.2%
Total 7.6%
83.2% Corporate Bonds
Equity Debt Cash and Money Market SUNDARAM FINANCE LTD AAA 2.0%
INDIABULLS HOUSING FINANCE LTD AA 1.3%
PIRAMAL CAPITAL & HOUSING FIN LTD. AA 1.2%
Industry Wise Exposure** HDFC LTD. AAA 0.5%
L&T INFRA DEBT FUND LTD AAA 0.4%
FINANCIAL AND INSURANCE ACTIVITIES 29.0%
Total 5.3%
COMPUTER PROG AND CONSULTANCY 11.1% Cash and Money Market 3.9%
MFG. OF COKE & REFINED PETROL PROD 9.0% Portfolio Total 100.0%
CENTRAL GOVERNMENT SECURITIES 6.4%

MUTUAL FUND 6.0%

INFRASTRUCTURE RELATED ACTIVITIES 5.1%

MFG. OF TRAILERS & SEMI-TRAILERS 4.8%

MANUFACTURE OF TOBACCO PRODUCTS 4.2%

MFG. OF CHEMICALS & CHEMICAL PROD. 3.9%

MFG. OF PHARMACEUTICALS 3.6%

Others 17.1%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

18.8%
24.4%
34.0%

22.1% 59.1%

41.6%
< 1 Year 3 to 7 Years > 7 Years Government Securities AAA AA

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 Balancer (Closed Fund)
SFIN No: ULIF00425/01/05BALANCERFN117
September 30, 2022

Fund Details
Investment Objective: To generate capital appreciation and current income, through Inception Date NAV YTM MD AUM
a judicious mix of investments in equities and fixed income securities. 08-Feb-2005 Rs. 47.2162 7.5% 3.7 Rs. 221 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 50% investments in Equities and 50%
Shashikant Wavhal Equity - 2 | Debt - 0 | Balanced -3
investments in Government & other debt securities to meet the stated objectives.
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 65
Fund Benchmark
1 Month -2.2% -2.1%
6 Months -1.3% -1.1% 45

NAV (Rs.)
1 Year -0.6% -1.0%
2 Years 15.6% 13.8% 25
3 Years 9.1% 10.3%
5
5 Years 7.4% 9.2%
Feb-05 Jan-08 Dec-10 Nov-13 Oct-16 Oct-19 Sep-22
Inception 9.2% 10.5%
Past performance is not indicative of future performance
*Benchmark is 50% Nifty 50 and 50% CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) RELIANCE INDUSTRIES LTD. 5.8%
Security Type Min Max Actual INFOSYS LTD. 4.0%
Govt & Govt Guaranteed Secs 10% 60% 14.1% H D F C BANK LTD. 3.5%
Infrastructure and Social Sector Secs 0% 60% 9.3% I C I C I BANK LTD. 3.5%
Listed Equities 35% 65% 53.8% I T C LTD. 2.8%
Long Term Bonds 0% 60% 18.4% STATE BANK OF INDIA 2.3%
Short Term Bonds 0% 35% 0.0% HDFC LTD. 2.3%
Money Market Instruments 0% 40% 4.4% LARSEN & TOUBRO LTD. 1.9%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market SBI NIFTY BANK ETF 1.8%
opportunities and future outlook of the markets. TATA CONSULTANCY SERVICES LTD. 1.8%
Others 24.0%
Asset Mix Total 53.8%
4.4% Government Securities
5.63% GOI 2026 4.3%
6.54% GOI 2032 4.3%
41.8%
53.8%
7.26% GOI 2029 2.3%
5.74% GOI 2026 2.1%
7.54% GOI 2036 0.7%
7.95% GOI 2032 0.5%
Equity Debt Cash and Money Market 8.4% GOI 2025 0.0%
Total 14.1%
Corporate Bonds
Industry Wise Exposure** REC LTD. AAA 7.0%
EXPORT-IMPORT BANK OF INDIA AAA 4.5%
FINANCIAL AND INSURANCE ACTIVITIES 29.3% INDIABULLS HOUSING FINANCE LTD AA 4.4%
CENTRAL GOVERNMENT SECURITIES 14.1% HDFC LTD. AAA 3.5%
PIRAMAL CAPITAL & HOUSING FIN LTD. AA 3.2%
INFRASTRUCTURE RELATED ACTIVITIES 12.3%
SUNDARAM FINANCE LTD AAA 2.8%
COMPUTER PROG AND CONSULTANCY 7.0%
L&T INFRA DEBT FUND LTD AAA 2.3%
MUTUAL FUND 5.9%
Total 27.7%
MFG. OF COKE & REFINED PETROL PROD 5.8%
Cash and Money Market 4.4%
INVESTMENTS IN HOUSING FINANCE 3.5% Portfolio Total 100.0%
MFG. OF TRAILERS & SEMI-TRAILERS 3.0%

MANUFACTURE OF TOBACCO PRODUCTS 2.8%

MFG. OF CHEMICALS & CHEMICAL PROD. 2.4%

Others 13.8%

0.0% 10.0% 20.0% 30.0% 40.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

12.5% 18.2%
23.7%
13.0%
48.0%

33.8%

50.8%
AAA Government Securities AA
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years

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 Moderator (Closed Fund)
SFIN No: ULIF00325/01/05MODERATORF117
September 30, 2022

Fund Details
Investment Objective: To earn regular income by investing in high quality fixed Inception Date NAV YTM MD AUM
income securities and to generate capital appreciation by investing a limited portion 08-Feb-2005 Rs. 35.1073 7.4% 4.0 Rs. 9.8 crore
in equity. Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 20% investments in Equities and 80% Shashikant Wavhal Equity - 2 | Debt - 0 | Balanced -3
investments in Government & other debt securities to meet the stated objectives. Alok Bisht Equity - 0 | Debt - 5 | Balanced -3

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 65
Fund Benchmark
1 Month -1.2% -1.1%
6 Months -0.7% -0.4% 45

NAV (Rs.)
1 Year -0.2% 0.2%
2 Years 8.3% 7.7% 25
3 Years 5.7% 7.7%
5 Years 5.2% 7.5% 5
Feb-05 Jan-08 Dec-10 Nov-13 Oct-16 Oct-19 Sep-22
Inception 7.4% 8.7%
Past performance is not indicative of future performance
*Benchmark is 50% Nifty 50 and 50% CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Equity
Actual v/s Targeted Asset Allocation (%) RELIANCE INDUSTRIES LTD. 2.3%
Security Type Min Max Actual I C I C I BANK LTD. 2.2%
Govt & Govt Guaranteed Secs 10% 60% 39.0% H D F C BANK LTD. 1.7%
Infrastructure and Social Sector Secs 0% 60% 12.8% INFOSYS LTD. 1.6%
Listed Equities 10% 30% 21.1% STATE BANK OF INDIA 1.1%
Long Term Bonds 0% 60% 20.9% I T C LTD. 1.0%
Short Term Bonds 0% 35% 0.0% HDFC LTD. 1.0%
Money Market Investments 0% 40% 6.2% LARSEN & TOUBRO LTD. 0.8%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market TATA CONSULTANCY SERVICES LTD. 0.7%
opportunities and future outlook of the markets. AXIS BANK LTD. 0.6%
Others 8.0%
Asset Mix Total 21.1%
6.2% Government Securities
21.1%
7.57% GOI 2033 15.5%
7.59% GOI 2026 10.3%
7.54% GOI 2036 5.1%
6.54% GOI 2032 4.8%
7.38% GOI 2027 2.6%

72.7%
7.3% SDL 2032 0.8%
Equity Debt Cash and Money Market Total 39.0%
Corporate Bonds
L&T INFRA DEBT FUND LTD AAA 9.2%
Industry Wise Exposure** INDIABULLS HOUSING FINANCE LTD AA 7.1%
EDELWEISS BHARAT BOND ETF -APRIL 2025 AAA 5.5%
CENTRAL GOVERNMENT SECURITIES 38.2%
HDFC LTD. AAA 5.3%
FINANCIAL AND INSURANCE ACTIVITIES 17.5% IRFC LTD. AAA 3.6%
INFRASTRUCTURE RELATED ACTIVITIES 14.0% PIRAMAL CAPITAL & HOUSING FIN LTD. AA 3.0%
MUTUAL FUND 5.9% Total 33.7%
INVESTMENTS IN HOUSING FINANCE 5.3%
Cash and Money Market 6.2%
Portfolio Total 100.0%
COMPUTER PROG AND CONSULTANCY 2.8%

MFG. OF COKE & REFINED PETROL PROD 2.3%

MFG. OF TRAILERS & SEMI-TRAILERS 1.2%

MANUFACTURE OF TOBACCO PRODUCTS 1.0%

MFG. OF CHEMICALS & CHEMICAL PROD. 0.9%

Others 10.8%

0.0% 10.0% 20.0% 30.0% 40.0% 50.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

17.7% 13.9%
37.8%
11.8%

53.7%
32.4%

32.8%
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years Government Securities AAA AA

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 Preserver (Closed Fund)
SFIN No: ULIF00125/01/05PRESERVERF117
September 30, 2022

Fund Details
Investment Objective: To generate income at a level consistent with preservation of Inception Date NAV YTM MD AUM
capital, through investments in securities issued or guaranteed by central and state 10-Feb-2005 Rs. 28.6076 7.3% 4.0 Rs. 35 crore
Governments. Fund Manager(s) Funds Managed by the Fund Managers
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3
Investment Philosophy: The fund will target 100% investments in Government &
Govt. Guaranteed Securities to meet the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 40
Fund Benchmark
1 Month -0.6% -0.5% 33
6 Months -1.1% -0.2%

NAV (Rs.)
26
1 Year -0.5% 1.0%
19
2 Years 2.0% 3.5%
12
3 Years 4.1% 5.9%
5
5 Years 5.0% 6.8% Feb-05 Jul-09 Nov-13 Apr-18 Sep-22
Inception 6.1% 7.7%
Past performance is not indicative of future performance
*Benchmark is ISEC Mibex

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Government Securities
Actual v/s Targeted Asset Allocation (%) 7.38% GOI 2027 23.8%
Security Type Min Max Actual 5.63% GOI 2026 21.9%
Govt & Govt Guaranteed Secs 80% 100% 86.8% 7.59% GOI 2026 14.8%
Money Market Investments 0% 40% 13.2% 5.74% GOI 2026 13.6%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market 6.54% GOI 2032 5.7%
opportunities and future outlook of the markets. 7.26% GOI 2032 3.6%
7.36% GOI 2052 3.5%
Total 86.8%
Cash and Money Market 13.2%
Portfolio Total 100.0%

Asset Mix
13.2%

86.8%
Debt Cash and Money Market

Industry Wise Exposure**

CENTRAL GOVERNMENT SECURITIES 86.8%

Others 13.2%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

14.4% 2.1%

83.5% 100.0%

< 1 Year 3 to 7 Years > 7 Years Government Securities

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 Protector (Closed Fund)
SFIN No: ULIF00225/01/05PROTECTORF117
September 30, 2022

Fund Details
Investment Objective: To earn regular income by investing in high quality fixed Inception Date NAV YTM MD AUM
income securities 04-Feb-2005 Rs. 29.1745 7.6% 4.3 Rs. 64 crore
Fund Manager(s) Funds Managed by the Fund Managers
Investment Philosophy: The fund will target 100% investments in Government &
Alok Bisht Equity - 0 | Debt - 5 | Balanced -3
other debt securities to meet the stated objectives

Fund v/s Benchmark Return (%) NAV vs Benchmark

Fund Benchmark* 40
Fund Benchmark
1 Month -0.7% -0.4% 33

NAV (Rs.)
6 Months -0.7% 0.0% 26
1 Year 0.0% 1.0% 19
2 Years 4.7% 3.4%
12
3 Years 3.9% 6.0%
5
5 Years 3.5% 6.4% Feb-05 Jun-09 Nov-13 Apr-18 Sep-22
Inception 6.2% 7.1%
Past performance is not indicative of future performance
*Benchmark is CRISIL Composite Bond Fund Index

MD is Modified duration (Debt and Money Market) in years; YTM is Yield to Maturity; AUM is Asset Security Name Rating Net Asset (%)
Under Management. Government Securities
Actual v/s Targeted Asset Allocation (%) 7.38% GOI 2027 15.7%
Security Type Min Max Actual 5.63% GOI 2026 10.4%
Govt & Govt Guaranteed Secs 25% 90% 39.2% 6.54% GOI 2032 6.2%
Infrastructure and Social Sector Secs 0% 60% 19.3% 7.36% GOI 2052 3.4%
Long Term Bonds 10% 60% 24.1% 7.26% GOI 2032 1.9%
Short Term Bonds 0% 45% 0.0% 7.54% GOI 2036 1.6%
Money Market Investments 0% 40% 17.4% Total 39.2%
The actual asset allocation will remain within the 'minimum' and 'maximum' range based on market Corporate Bonds
opportunities and future outlook of the markets. INDIABULLS HOUSING FINANCE LTD AA 9.3%
IRFC LTD. AAA 8.2%
HDFC LTD. AAA 8.1%
Asset Mix REC LTD. AAA 7.9%
17.4% PIRAMAL CAPITAL & HOUSING FIN LTD. AA 3.5%
SHRIRAM TRANSPORT FINANCE CO. LTD. AA+ 3.2%
N T P C LTD. AAA 3.1%
Total 43.4%
Cash and Money Market 17.4%
Portfolio Total 100.0%
82.6%

Debt Cash and Money Market

Industry Wise Exposure**

CENTRAL GOVERNMENT SECURITIES 39.2%

INFRASTRUCTURE RELATED ACTIVITIES 19.3%

FINANCIAL AND INSURANCE ACTIVITIES 16.0%

INVESTMENTS IN HOUSING FINANCE 8.1%

Others 17.4%

0.0% 10.0% 20.0% 30.0% 40.0% 50.0%

**Industry Classification is as per National Industrial Classification (All Economic Activities)-2008 NIC

Debt Maturity Profile Rating Credit Profile

19.6% 2.4% 9.4% 3.9%

15.5%

47.4%

33.2%

68.6%
< 1 Year 1 to 3 years 3 to 7 Years > 7 Years Government Securities AAA AA AA+

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Glossary

Quantitative Indicators
• Standard Deviation (SD) - It shows how much the variation or dispersion of a fund’s daily returns has
from its average. Lesser SD indicates that the daily returns are moving closer to the average. A higher
SD indicates that daily returns are widely spread over a large range of value.

• Beta – It indicates how the fund is performing relative to its benchmark. If beta of a fund is higher than
its benchmark, which is considered 1, it indicates risk-return trade-off is better and vice-versa.

• Sharpe Ratio – It measures the risk-reward ratio as it indicates whether higher returns come with higher
or lower risk. Greater the ratio, better is the risk-adjusted performance.

• Average Maturity – It is the weighted average period of all the maturities of debt securities in the
portfolio.

• Modified Duration (MD) – It is the measurable change in the value of a security in response to a change
in interest rates.

• Bond yield – Bond yield is the amount of return an investor realizes on a bond. Several types of bond
yields exist, including nominal yield (interest paid divided by the face value of the bond) and current
yield (annual earnings of the bond divided by its current market price). Yield to maturity (YTM), a
popular measure where in addition to coupon return it also additionally incorporates price
decline/increase to face value of the bond over the maturity period.

Macroeconomic Indicators

• Macroeconomics - Macroeconomics is the branch of economics that studies the behavior and
performance of an economy as a whole. It focuses on the aggregate changes in the economy such as
unemployment, growth rate, gross domestic product and inflation. Macroeconomics analyzes all
aggregate indicators that influence the economy. Government and corporations use macroeconomic
models to help in formulating of economic policies and strategies.

• Gross Domestic Product (GDP) - GDP is one of the primary indicators used to gauge the health of a
country's economy. It represents the total value of all goods and services produced over a specific time
period. It can be stated in real terms or nominal terms (which includes inflation).

• Gross value added (GVA) - GVA is a productivity metric that measures the contribution to an economy,
producer, sector or region. Gross value added provides a value for the amount of goods and services
that have been produced, less the cost of all inputs and raw materials that are directly attributable to
that production.

• Index of Industrial Production (IIP) – The index represents the production growth of various sectors in
India. The index focuses on mining, electricity and manufacturing. The ongoing base year for calculation
of index is 2004-2005.

• HSBC Purchasers Managers’ Index (PMI) - Three types of indices – Manufacturing, Services and
Composite Index are published on a monthly basis after surveys of private sector companies. An index
reading above 50 indicates an overall increase in that variable, while below 50 shows an overall
decrease.

• Inflation – Inflation measures the change in the prices of a basket of goods and services in a year. From
a calculation standpoint, it is the percentage change in the value of the Wholesale Price Index (WPI) /
Consumer Price Index (CPI) on a year-on-year basis. It occurs due to an imbalance between demand and
supply, changes in production and distribution cost or increase in taxes on products. When economy
experiences inflation, i.e. when the price level of goods and services rises, the value of currency
reduces.

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Glossary

Macroeconomic Indicators
• Nominal interest rate - Nominal interest rate is the interest rate that does not take inflation impact
into account. It is the interest rate that is quoted on bonds and loans.

• Real interest rate - Real interest rate adjusts for the inflation and gives the real rate of a bond or a
loan.

• Monetary Policy – Monetary policy is the macroeconomic policy laid down by the Central bank. It
involves management of money supply and interest rates to achieve macroeconomic objectives like
inflation, consumption, growth and liquidity. Depending on growth-inflation dynamics, the central bank
can either pursue an easy or a tight monetary policy. An expansionary/easy/ accommodative monetary
policy involves expansion of money supply, mainly by keeping interest rates low, to boost economic
growth. A contractionary/tight monetary policy involves reduction in money supply to control inflation
in the economy.

• Liquidity - The Central bank of a country has to maintain an appropriate level of liquidity to help meet
the credit demand of the country as well as maintain price stability. This is done by way of direct
monetary policy tools such as policy rates and cash reserves to be maintained with it by banks. It is also
done by indirect means such as Open market Operations (OMO) which involve sale and purchase of
Government securities.

• Fiscal Deficit – This takes place when India's expenditure rises than its revenue. To fill this gap, the
Government raises debt by issuing Government/ sovereign bonds. Fiscal deficit is usually compared with
GDP to understand the financial position of the country. Rising fiscal deficit to GDP ratio is not good for
the country, which requires immediate attention to cut expenditure and/or increase the source of
revenue.

• Current Account Deficit (CAD) - Current account deficit is a measurement of a country’s trade where
the value of imports of goods and services as well as net investment income or transfer from abroad is
greater than the value of exports of goods and services for a country. This indicates that the country is
a net debtor of foreign currency, which increases the pressure on the country's existing foreign currency
reserves. Current account surplus is the opposite of this.

• Investment - In private investment, the funds come from a private, for-profit business. A few examples
of private investment are a private company’s manufacturing plant, a commercial office building, or a
shopping mall. In public investment, the money exchanged comes from a governmental entity such as a
city, state, country, etc. It would involve roads, airports, dams and other public infrastructure.

Market Indices
• Nifty 50 Index – It is a well diversified 50 stock index accounting for 22 sectors of the economy. It is
used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index
funds.

• CRISIL Composite Bond Fund Index - It seeks to track the performance of a debt portfolio that includes
government securities and AAA/AA rated corporate bonds.

Fixed Income Indicators

• Repo Rate - The rate at which the RBI lends money to commercial banks is called repo rate. It is an
instrument of monetary policy. Whenever shortage of funds banks has, they can borrow from the RBI.

• Cash Reserve Ratio (CRR) - CRR is the amount of funds which the banks need to keep with the RBI. If
the RBI decides to increase the CRR, the available amount with the banks comes down. The RBI uses the
CRR to drain out excessive money from the system.

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Glossary

Fixed Income Indicators

• Marginal Standing Facility (MSF) – It is a rate at which the RBI provides overnight lending to
commercial banks over and above the repo window (repo rate). The interest rate charged is higher than
the repo rate and hence it is used when there is considerable shortfall in liquidity.

• Statutory Liquidity ratio (SLR) – In India, commercial banks are required to maintain a certain
percentage of their total deposits (net demand and time liabilities) in notified Government securities to
ensure safety and liquidity of deposits. This percentage is known as the SLR rate. If the RBI or Central
Bank reduces the SLR rate, it means that higher liquidity will be available to banks for their lending
activity and vice-versa.

Others
• Goods and Services Tax (GST) – The GST is one of the biggest indirect tax reforms, with an aim to
make India one unified common market. It is a single tax on the supply of goods and services, right from
the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the
subsequent stage of value addition, which makes GST essentially a tax only on value addition at each
stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain,
with set-off benefits at all the previous stages.

• Foreign institutional investors (FIIs) - FIIs are those institutional investors who invest in the assets
belonging to a different country other than that where these organizations are based. These are the
big companies such as investment banks, mutual funds etc, which invest considerable amount of money
in Indian equity and fixed income markets, and consequently have a strong bearing on the respective
market movement and currency.

• Domestic institutional investors (DIIs)- DIIs are those institutional investors who undertake investment
in securities and other financial assets of the country they are based in. Institutional investment is
defined to be the investment done by institutions or organizations such as banks, insurance companies,
and mutual fund houses in the financial or real assets of a country.

• Emerging market (EM) economy- An emerging market economy describes a nation's economy that is
progressing toward becoming more advanced, usually by means of rapid growth and industrialization.
These countries experience an expanding role both in the world economy and on the political frontier.

• Organization of the Petroleum Exporting Countries (OPEC)- The OPEC was formed in 1960 to unify
and coordinate members’ petroleum policies. This was aimed at ensuring the stability of oil markets in
order to secure an efficient, economic, and regular supply of petroleum to customers as well as a
steady income to producers with a fair return. Members of OPEC include Iran, Iraq, Syria, Kuwait, Saudi
Arabia, Bahrain, Qatar, the United Arab Emirates (or UAE), Oman, and Yemen. The OPEC countries
produce 40% of the world’s crude oil.

• Federal Open Market Committee (FOMC)- The FOMC is the monetary policymaking body of the Federal
Reserve System. The FOMC is composed of 12 members – seven members of the Board of Governors and
five of the 12 Reserve Bank presidents.

• International Monetary Fund (IMF)- The IMF, formed in 1945, is an international organization of 189
countries, headquartered in Washington, D.C. The key objectives include fostering global monetary
cooperation, securing financial stability, facilitating international trade, promoting high employment
and sustainable economic growth, and reducing poverty around the world.

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 Our Popular Products

ULIP
• PNB MetLife Smart Platinum Plus
A whole life protection and savings oriented unit linked insurance plan - which offers life
UIN : 117L125V01
insurance cover to protect your family in case of your unfortunate demise and provides you with
tailor-made solutions to achieve your goals, including an option where wealth creation doesn’t
take a back seat even during Critical Illness. With Smart Platinum Plus, boost your fund value
with Return of FMC at the end of 6th year and Fund Booster at the end of 10th year and create a
personalized wealth plan with your choice of 11 fund options and 2 portfolio strategies.

• PNB MetLife Goal Ensuring Multiplier PNB MetLife Goal Ensuring Multiplier or “GEM” is a new age unit linked plan offering a varied

• UIN : 117L133V01 choice of policy and premium paying terms. The plan has 5 coverage options catering to varied
customer requirements of risk protection and investments:
• Wealth – This option provides life insurance cover and helps build corpus to fund future
dreams.
• Wealth Plus Care – Features of Wealth plus waiver of premium benefit in the event of
diagnosis of any of the 5 listed Critical Illnesses
• Goal Assured – Offers triple benefits! It pays lumpsum death benefit, waive off future
premiums in the event of death and also pay accumulated funds as maturity benefit.
• Income Assured – 4 in 1 benefits! We pay lumpsum death benefit, waive off future premiums
in the event of death, pay regular income to family and also pay accumulated funds as
maturity benefit
• Smart Child – A unique offering which helps systematically save for children’s education and
financially secure their bright future
GEM features return of all charges:
• Return of Fund Management Charges (ROFMC)
• Return of Premium Allocation Charges (ROPAC)
• Return of Mortality Charges (ROMC)
The Top-up feature allows the customers to enhance their coverage and accelerate their savings
goals.
The plan comes with a choice of 13 funds catering to various risk appetites including the newly
introduced India Opportunities Fund and the Sustainable Equity fund.

Traditional Products
• PNB MetLife Guaranteed Future Plan A Guaranteed benefit plan that provides you the flexibility to receive benefits as lumpsum or

UIN:117N124V05 income through 4 different plan options. The plan offers guaranteed lumpsum benefit ranging
from 129% to 385% of total premiums payable & Guaranteed Income ranging from 103% to 265% of
Annualized premium. Additionally, the products has a high premium reward ranging from 4% to
12% of the Annualized premium for premium payment of 30 K & above. There are more
flexibilities like option to take income in monthly or half-yearly instalments, income payout on
special occasions like Birthday/Anniversaries.

• PNB MetLife Century Plan PNB MetLife Century Plan is a participating plan that helps with lifelong, taxfree income upto age

UIN :117N129V01 100 years, starting from the 1st year itself , cash bonuses at various life stages and a second
source of income for your retirement years. This plan offers you the flexibility to opt for three
income options depending on one’s needs– 1) Super Income option: the cash bonuses (if declared)
will be paid from the first month or year onward and a lumpsum benefit will be paid at maturity.
There is minimum guarantee on cash bonuses @10%of the annualized premium paid during the
premium payment term.; 2) Smart Income option: the cash bonuses will be paid from the first
month or year onwards based on the income mode selected and a lumpsum benefit will be paid at
maturity. 3) Future income option: Cash bonuses will be paid from 15th year of policy year along
with simple reversionary bonus if declared during first 14 years of the policy. There is minimum
guarantee on cash bonuses 30% of annualized premium for a fixed period of 20 or 30 years. The
payouts date can be decided as per your requirement. Moreover, you can also ensure that the
income continues for your loved ones even in case of your unforeseen demise with the ‘Family
Care’ option.
PNB MetLife Guaranteed Goal Plan is a savings plan that provides you an option to choosebetween
• PNB MetLife Guaranteed Goal Plan
2 plan options: Lumpsum & Income + Lumpsum. The plan offers Guaranteed Additions of 5% and
UIN: 117N131V02
Wealth Additions ranging from 3.2% to 9% of total annualised premium paid till date accruing
every year during the premium paying term. Additionally, the product has higher benefit for
higher premium payments. There is flexibility to either defer the survival benefits and accumulate
them or to receive the benefits on special occasions like birthdays/anniversaries as per your
choice. Also, the plan offers WOP on death or diagnosis of critical illnesses with Family Care and
Health Care options.

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 About Us

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the fastest growing life
insurance companies in the country, having as its shareholders, MetLife International Holdings LLC.
(MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and
Company Private Limited and other private investors, with MIHL and PNB being the majority
shareholders. PNB MetLife has been present in India since 2001.

PNB MetLife brings together the financial strength of a leading global life insurance provider,
MetLife, Inc., and the credibility and reliability of PNB, one of India's oldest and leading nationalised
banks. The vast distribution reach of PNB together with the global insurance expertise and product
range of MetLife makes PNB MetLife a strong and trusted insurance provider.

PNB MetLife is present in over 119 locations across the country and serves customers in more than
8,000 locations through its bank partnerships with PNB, JKB and Karnataka Bank Limited.

PNB MetLife provides a wide range of protection and retirement products through its Agency sales of
over 6,000 financial advisors and multiple bank partners, and provides access to Employee Benefit
plans for over 1,200 corporate clients in India. The company continues to be consistently profitable
and has declared profits for last five Financial Years.

For more information, visit www.pnbmetlife.com

Contact Us
Customer Helpline No. 1800-425-6969 (Toll Free) (Within India only)
IVR available 24*7 with your policy details
Email [email protected]

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 PNB MetLife India Insurance Company Limited
Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing,
Raheja Towers, 26/27 M G Road, Bangalore-560001, Karnataka.
IRDAI Registration number 117
CI No: U66010KA2001PLC028883

For more details on risk factors, terms and conditions, please read product sales brochure carefully before concluding a
sale.

Unit-Linked Life Insurance products are different from the traditional insurance products and are subject to the risk
factors.

The premium paid in Unit-Linked Life Insurance Policies are subject to investment risks associated with capital markets
and the NAVs of the Units may go up or down based on the performance of Fund and factors influencing the capital
market and the insured is responsible for his/her decisions.

The name of the Insurance Company (PNB MetLife India Insurance Company Limited) and the name of the Unit-Linked
Life Insurance contract does not in any way indicate the quality of the contract, its future prospects or returns.

Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or the Policy
Document.

The various Funds offered are the names of the Funds and do not in any way indicate the quality of these plans, their
future prospects and returns. The Unit-Linked Funds don't offer a guaranteed or assured return.

The premium shall be adjusted on the due date even if it has been received in advance.

The fund update provided by PNB MetLife India Insurance Company Limited (“PNB MetLife”) is for general informational
purposes only. This information is not intended as investment advice, or as an endorsement, recommendation or
sponsorship of any company, security, or fund. The opinions and analyses included in the information are based from
sources believed to be reliable and written in good faith, but no representation or warranty, expressed or implied is
made as to their accuracy, completeness or correctness. PNB MetLife cannot and do not assess or guarantee the
suitability or profitability of any particular investment, or the potential value of any investment or informational source.
You should seek the advice of a qualified securities professional before making any investment. The information
contained herein does not suggest or imply and should not be construed, in any manner, a guarantee of future
performance. Past performance does not guarantee future results.

"The products on Nifty 50 Index is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited
(IISL). IISL does not make and expressly disclaims any representation or warranty, express or implied (including
warranties of merchantability or fitness for particular purpose or use) regarding the advisability of investing in the
products linked to Nifty 50 Index or particularly in the ability of the Nifty 50 Index to track general stock market
performance in India. Please read the full Disclaimers in relation to the Nifty 50 Index in the Offer Document /
Prospectus / Information Statement".

Indices provided by CRISIL: CRISIL Indices are the sole property of CRISIL Limited (CRISIL). CRISIL Indices shall not be
copied, retransmitted or redistributed in any manner for any commercial use. CRISIL has taken due care and caution in
computation of the Indices, based on the data obtained from sources, which it considers reliable. However, CRISIL does
not guarantee the accuracy, adequacy or completeness of the Indices and is not responsible for any errors or for the
results obtained from the use of the Indices. CRISIL especially states that it has no financial liability whatsoever to the
users of CRISIL Indices.

Compound annual growth rate (CAGR) is rounded to nearest 0.1%

“The marks “PNB” and “MetLife” are the registered trademarks of Punjab National Bank and Metropolitan Life Insurance
Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks”.

Call us Toll-free at 1-800-425-6969, Website: www.pnbmetlife.com, Email: [email protected]. or write to us

at 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062. Phone:
+91-22-41790000, Fax: +91-22-41790203. AD-NF/2022-23/161.

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS /FRAUDULENT OFFERS!

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls
are requested to lodge a police complaint.

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