VOLUME 10 APRIL 2010

as on 31st March 2010

CIO SPEAK
Dear Policyholder,
The year FY10 saw equity markets delivering over 80% returns, which is the third highest annual return
since the Sensex was constituted way back in 1979. What makes this year more remarkable is that this
year the Indian stocks have emerged as the best performer amongst the BRIC nations as well as the
developed markets across the globe. It will be interesting to note that Indian equities have outperformed
China over long-term. Since March 1993 the MSCI India Index has risen by over 470% while the MSCI
China Index has declined by 44%. FY10 has been remarkable so far where India has attracted highest
ever FII inflows at ~US$ 23.3 bn against an outflow of US$10.7 bn in FY09.
The Indian equity market returns were mainly skewed in the first half of the financial year which saw the market sentiments turning positive
led by recovery in global growth, reduction in risk aversion and surge in inflows to Emerging Markets (EMs) including India. The icing on the
cake was the stupendous election result with the strongest ever government at the helm. The election result was cheered by the market
with an upper circuit, the first time in history of the Indian equities. The markets remained range-bound in the second half of the financial
year. The sentiments were dampened by uncertainties over global macro economic scenario & emergence of sovereign debt risk with
PIIGs followed by Dubai and then Greece’s excessive debt burden dampening market sentiments and leading to outflows from EMs. In
addition to these, on the domestic front monsoon failure, surge in inflation and concerns over stimulus withdrawal kept investors in a
cautious mood. Liquidity in the secondary market was also impacted by record primary issuances.
Global economy is rising, albeit the pace of growth still remains anemic. Having sailed their economies through the crisis, the policymakers
now face the mammoth task of consolidating public finances over the medium-term. Public debt-to-GDP ratio has skyrocketed and is above
100% in many developed economies. As these economies begin withdrawing monetary stimulus, their pace of growth may get impacted.
Indian policymakers have managed the economic downturn well. In FY10, government consumption cushioned the economy from the
downside. In FY11, consumption and private & public capex will take the driver’s seat and further propel economic growth. Encouragingly,
the recovery in private investment and consumption is gaining momentum and is beginning to look self-sustaining. The need to bridge the
existing infrastructure deficit, high capacity utilization in many key industries, rise in demand and conducive interest rates augurs well for
investment pick-up. An improving job market is supporting private consumption. Further, the recasting of personal income tax slabs in
Budget 2010 which may increase disposable income to the tune of Rs 56,000 in the hands of over 3 crore taxpayers and continuation of
urban and rural demand will also boost consumption growth.
The evolving medium-term growth trajectory for India remains attractive. A roadmap for fiscal consolidation was rightly focused in the Union
Budget 2010. Large disinvestment target of Rs 40000 cr will give good long-term investment opportunity of buying into high quality Public
Sector Companies. If we look at FY11E earnings, Sensex is trading at a fair valuation of 16x. Equity inflows are expected to remain strong
in FY11. Given the easy liquidity environment globally, FIIs are expected to invest over US$20 bn in equities in FY11. Additionally, DIIs
may also invest US$18-20 bn. Having said that, there are concerns in the short-term which may dampen market sentiments and keep
market participants in a cautious mood. On the domestic front, the core inflationary pressures are gaining strength driven by increase in
demand, high capacity utilizations and rising commodity prices. We expect inflation to peak out in double-digits in March-April 2010 before
coming down to 5- 6% by 2HFY11 provided monsoons are normal this year. Globally, the jobless nature of the recovery remains a concern
and the latter half of 2010 may see a slowdown in growth as demand get adversely impacted by withdrawal of stimulus by policymakers in
the developed world.
In FY10, we further expanded our fund offerings by launching 6 new fund options with varying risk profile to help you fulfill your long-term
financial commitments. All our funds continue to outperform their respective benchmarks over the last 1-5 years period by a considerable
margin. During the year, our funds also featured in various leading financial publications for their outstanding performance. We would like
to reiterate our commitment towards maintaining superior portfolio quality and continuing with our endeavour to deliver superior risk-
adjusted returns on your investments which will help to maximize your wealth consistently over long-term.

Regards,

Vikram Kotak
Chief Investment Officer

Past performance is not necessarily indicative of future performance.

2
 as on 31st March 2010

Market Update
Equity

Sensex Nifty Key Indices 31-Mar-10 28-Feb-10 % Change

Sensex Nifty
20000 6000
5750
Nifty 5249.10 4922.30 6.64%
18000 5500
5250 Sensex 17527.77 16429.55 6.68%
5000
16000 4750
4500 BSE 100 9300.20 8758.51 6.18%
14000 4250
4000
12000 3750 Dow Jones 10856.63 10403.79 4.35%
3500
3250 Nikkei 11089.94 10126.03 9.52%
10000
3000
2750
8000 2500 Hang Seng 21239.35 20608.70 3.06%
2250
6000 2000
Nasdaq 2397.96 2273.57 5.47%
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 KOSPI 1692.85 1594.58 6.16%

The Indian equity market witnessed a strong post-budget rally in March on receiving huge FII inflows as global investors gave a thumbs-up to the above-expected budget
delivered by our honorable Finance Minister. Taking a long term positive view on the Indian economy, the global investing community appreciated budget proposals which
targeted to progressively cut government’s fiscal deficit over the next three years. The RBI raised the repo rate to 5% from 4.75% and the reverse repo rate to 3.50% from 3.25%
much before the scheduled policy meet in April 2010.
The equity market did not react negatively as it was expecting the hike sooner than later as core inflation had started to inch up even though agri-inflation fears are receding on a
good Rabi crop. Manufacturing inflation pressures have started to build up on strong revival of industrial demand in the economy as capacity utilization across industry has
reached above average levels. Hence to anchor inflationary expectations, RBI would return to normalized interest rates along-with the calibrated exit from the overall stimulus
package provided by it during the down-turn.
The developed economy continues to exhibit mixed signals, where we have witnessed the Euro-zone reeling under severe public debt and the US economy recovering well
from the abyss leading to strengthening of dollar against other developed nation’s currencies. The US economy expanded at a 5.6 percent annual rate in the last three months
of 2009, led by inventory restocking, according to Commerce Department. Recent reports are suggesting that the U.S. labor market and consumer spending are improving
which have boosted global investor optimism that demand in the world’s largest economy is recovering. Uncertainty on Europe continues with some respite as EU says that it
would come to aid with IMF backing if needed, to save Greece. FIIs were the net buyers in the equity markets to the extent of Rs.19928.20 Crores whereas Domestic Mutual
Funds were net sellers to the extent of Rs.4082.30 Crores during the month.

4500

3500
Rs v/s USD
2500 53.00
52.00
1500 51.00
50.00
49.00
In US $ MN

500
48.00
47.00
(500) 46.00
45.00
(1500) 44.00
43.00
42.00
(2500)
41.00
40.00
(3500) 39.00
38.00
Mar-09

Apr-09

May-09

Jun-09

Jul-09

Aug-09

Sep-09

Oct-09

Nov-09

Dec-09

(4500)
Jan-10

Feb-10

Mar-10
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

Equity Outlook
India Inc. reported encouraging advance tax figures for Q4 March 2010 which infrastructure – Road and Power, expected recovery in private capex and continued
reinstates the underlying momentum in the economy. The inherent strength can be strength in domestic consumption would spur the sustainable growth in the economy.
seen in the sustained momentum reported from the Auto, Cement, Telecom, Freight Based on initial estimates by Planning Commission for the Twelfth Plan period (FY13-
numbers which continue to be healthy. Exports have revived with government 17), total investment in Infrastructure is estimated at US$ 1,025 bn, which is twice XI
support and global economic recovery in place albeit tepid in nature. IIP figures plan (FY08-12) period indicating the government’s commitment towards
reported recently show stupendous growth in private consumption which will infrastructure building.
eventually lead to revival in private capex and credit growth. The foremost concern Sensex currently trades at ~16.3xFY11 earnings and is near the fair valuation
on the domestic front is increasing core inflation as demand revives strongly with trajectory for long-term investors. Going forward, markets will closely keep a watch on
supply pressures mounting on the horizon. inflation, interest rates, global economy and the upcoming monsoon for further cues
The longer term under-current remains healthy with huge investments in and move ahead.

Past performance is not necessarily indicative of future performance.

3
as on 31st March 2010

Market Update
Debt

Key Indices 31-Mar-10 28-Feb-10 % Change

10 yr G -sec yield
9.50 10 year G-Sec 7.83% 7.89% -0.76%
9.20
8.90
8.60
8.30
5 Year G-Sec 7.53% 7.59% -0.79%
8.00
7.70
7.40 91 Day T Bill 4.20% 4.1% 2.44%
7.10
6.80
6.50
6.20
364 day T-Bill 5.04% 5.00% 0.80%
5.90
5.60
5.30 MIBOR 5.09% 4.17% 22.06%
5.00
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
Call Rates 4.29% 3.35% 28.06%
Inflation 9.89% 8.56% 15.54%

India’s Industrial Production grew 16.7% in January 2010. The growth was primarily led by the manufacturing sector, especially for capital goods and consumer durables. The
mining sector showed a huge jump from 9.5% in December 2009 to 14.6% in January 2010 and the manufacturing sector grew by 17.9% in January 2010 compared to 18.5% in
the last month on a y-o-y basis. The inflation rate rose to 9.89% for February 2010 compared to 8.56% for January 2010.
The reverse repo rate and repo rates were raised by 25bps to 3.5% and 5% respectively. This move combined with a 75 bps hike in the CRR during February, indicate that RBI
is now moving towards normalization of its loose monetary policy, prompted by double-digit levels of inflation and improving growth conditions. This is an indication of the sense
of urgency in tackling spiraling inflationary expectations.

Debt Outlook
Inflation remains a concern but the composition of its drivers should not be ignored.
Food inflation is already showing some early signs of rolling over. Non-food drivers
too will become more important as the economy recovers. Monsoon rainfall
remains a key risk that is too early to call. But having said that, inflation would tend
to ease as we get into the next fiscal year, assisted by the high statistical base,
availability of the winter crop output and measures taken by the government to curb
inflation in essential commodities.
We expect credit off-take to start picking up in a big way around the second half of
the financial year by when the major part of government borrowing will be over;
credit demand on account of return of private capital expenditure is also likely to
pick up during this period.
The RBI has also been reassured on process of economic recovery. The recent
data signals that the economic momentum remains on track and is being driven by
domestic consumption. For instance, the industrial production growth over the months
of December 2009 and January 2010 has been the strongest in 15 years and that
momentum is likely to continue in the last two months of the current fiscal year. We
maintain that the RBI will avoid a “sledgehammer” approach, given the size of
government borrowing that has to be undertaken. We expect 100bps hike in policy
rates beginning with an increase at the April policy.
We expect RBI to hike policy rates in and around the policy meeting prompting the yield
to move towards 8.25 - 8.50 per cent on the 10 yr G-Sec in the next quarter. Liquidity
still remains a worry as excess will stem inflation and shortage will have a negative
impact on the Government borrowings. Currently systemic liquidity is ~ Rs.350 bn.
Corporate bonds have seen a positive movement in the last fortnight and we expect it to
continue. 10 yrs spreads is expected to be ~95 bps due to increasing demand of the
pension and other retiral funds.

Past performance is not necessarily indicative of future performance.

4
 as on 31st March 2010

Learning Curve
11 INVESTMENT GUIDING PRINCIPLES FOR FY11

1. Start Early and invest regularly. This is the key to wealth creation. Regular investments, however small, can grow into
a substantial amount of wealth over a period of time. Longer investment tenure will allow you to enjoy the effect of
compounding. For instance, both individuals, A (20 years old) and B (30 years old) start investing Rs. 1000 & Rs. 1500
p.a. respectively. By the age of 50, both would have invested the same amount, i.e., Rs 30000. However, assuming
10% return on investments, A would have accumulated around Rs.181000 while B would have only Rs. 95000, nearly
half the amount! This is the magic of compounding. B would have to invest Rs. 2850 p.a., 2.8 times that of A, to get
Rs.180000 at the age of 50.
2. Have a clear objective. It is important to think about your long-term financial goals before starting to invest as it will impact the nature of investments & asset
allocation. It will help if you know in advance whether your investment objective is capital protection, stable returns or capital appreciation.
3. Understand your risk appetite. “Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock
market.”- Warren Buffet. Investing too conservatively or too aggressively, without understanding your risk profile, can result in failure of meeting your investment
objectives. Different asset classes have different degree of risk & return associated with them. Equities have the potential to deliver higher return than fixed-
income instruments but also have higher risk compared to the latter. You should invest in asset classes that have the potential to generate returns which are
adequate to meet your financial goals at the desired level of risk.
4. Invest with a long-term perspective. Do not trade or speculate. In the short-run, markets can be very volatile and such market uncertainty can be an
unnerving experience. Investments should be made with a long-term perspective as over the long-term market volatility withers out. Despite witnessing periods
of negative returns, Sensex has delivered a phenomenal CAGR of 17.3% over the last two decades! “If you don't feel comfortable owning something for 10
years, then don't own it for 10 minutes”- Warren Buffet.
5. Do not try to time the market: Always remember the old adage “Predicting rain doesn't count; building arks does”. Timing the market is a futile exercise and one
can seldom hope to get it right. Research has shown that following a long-term disciplined investment approach and remaining invested even during uncertain
times has seen investors reap the true benefits of any financial investment.
6. Adequately diversify- do not put all your eggs in one basket. “Controlling risk is the key to long-term rewards and controlling risk means being diversified at
all times”- Jim Cramer. By diversifying you will not have to rely on the success of just one investment and you will be able to confidently ride the markets’ ups and
downs.
7. Stick to Quality. Do not chase trends. “When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the
reputation of the business that remains intact.”–Warren Buffet. It is important to be invested in inherently good quality fundamentally strong companies with
sustainable and scalable business model, visionary management with proven track record and bright prospects.
8. Do not panic. “Success in investing doesn't correlate with I.Q. once you're above the level of 125. Once you have ordinary intelligence, what you need is the
temperament to control the urges that get other people into trouble in investing.”- Warren Buffet. In a bear market do not panic and rush to sell your investments.
Be patient. Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it. Equity markets are bound to go through
cycles, however, equites have been the best performing asset class over long-term.
9. Monitor your investments. As you move from one life stage to another, your investment objectives may change. It is important to assess your financial
investments in light of your changing needs.
10. Learn from your mistakes. “What we learn from history is that people do not learn from history.”- Warren Buffet. Do not try to recoup your losses by taking
bigger risks. Turn each mistake into a learning experience.
11. Do your homework well or hire professional experts to help you. “Risk comes from not knowing what you're doing”- Warren Buffet. It is very important to
deeply analyse any financial investments and fully understand its risk-return profile before investing. It requires time and efforts along with relevant skill sets. If
you do not have the adequate resources or the expertise to do it then leave it to professional experts.

Arpita Nanoti
Head – Investments Communication & Advisory

Past performance is not necessarily indicative of future performance.

5
as on 31st March 2010

Performance at a Glance
Assure Income Advantage Protector Builder
Fund Return BM Fund Return BM Fund Return BM Fund Return BM
Last 1 year 9.85 4.71 10.07 - 14.42 10.21 23.30 16.44
Last 2 years 12.97 6.62 - - 11.36 5.75 13.49 6.19
Last 3 years 12.99 - - - 11.25 6.74 13.15 7.59
Since Inception 10.05 - 17.86 - 8.82 - 11.40 -
Asset Held
1547 1770 3924 2623
(Rs. In Millions)

Balancer Enhancer Creator Magnifier

Fund Return BM Fund Return BM Fund Return BM Fund Return BM
Last 1 year 25.44 19.40 28.49 22.67 51.80 36.34 74.86 66.54
Last 2 years 15.79 6.26 11.60 5.11 19.93 6.56 8.50 5.79
Last 3 years 15.01 - 11.96 7.72 19.89 9.87 12.61 -
Since Inception 11.89 - 13.75 - 16.27 - 18.83 -
Asset Held
270 52879 2977 13520
(Rs. In Millions)

Maximiser Multipler Platinum Plus I Platinum Plus II

Fund Return BM Fund Return BM Fund Return BM Fund Return BM
Last 1 year 91.14 75.24 139.39 106.31 55.96 - 70.51 -
Last 2 years 13.80 5.35 21.06 9.22 2.41 - - -
Last 3 years - - - - - - - -
Since Inception 13.07 - 6.25 - 4.49 - 31.67 -
Asset Held
25783 3861 4191 5880
(Rs. In Millions)

Pension Funds Figures in percentage (%)

PENSION Nourish Growth Enrich

Fund Return BM Fund Return BM Fund Return BM

Last 1 year 14.02 10.21 23.01 16.44 37.23 26.01

Last 2 years 12.84 5.75 16.88 6.19 16.20 6.54
Last 3 years 12.12 6.74 15.62 7.59 15.79 8.69
Since Inception 8.70 - 11.81 - 14.41 -
Asset Held
135 361 1792
(Rs. In Millions)

Disclaimer:
This document is issued by BSLI. While all reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion
expressed herein. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt
any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. Past performance is not necessarily indicative of future performance. We have
reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Birla
Sun Life Insurance Company Limited, nor any person connected with it, accepts any liability arising from the use of this document. You are advised to make your own independent
judgment with respect to any matter contained herein.

Past performance is not necessarily indicative of future performance.

6
 as on 31st March 2010

Assure Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To provide Capital Protection, at a GOVERNMENT SECURITIES 0.00
high level of safety and liquidity MMI
CORPORATE DEBT 67.53 32.47%
through judicious investments in high
NCD
quality short-term debt. 8.7% Power Finance Corp Ltd 2010 5.41 67.53%
7.39% Power Grid Corp Ltd. 2010 5.19
STRATEGY 10.1% Reliance Industries Ltd. 2011 4.40
6.4% National Housing Bank 2013 3.88
Generate better return with low level
of risk throughinvestment into fixed 9.15% LIC Housing Finance Ltd. 2010 3.75 RATING PROFILE
interest securities having short-term 9.68% Indian Railway Fin Corp Ltd. 2010 3.26
maturity profile. 11.45% Rural Electrification Corp Ltd 2010 3.26 AA+
A1+
2.33%
2.32% Sovereign
7.99% LIC Housing Finance Ltd. 2013 3.26
ASSET ALLOCATION 6.73%
11.65% Housing Dev Finance Corp Ltd 2010 3.23 P1+/A1+
Equity : NIL 12.73%
7.35% Hindustan Petroleum Corp Ltd. 2012 3.22 AAA
Debt : 100% Other Corporate Debt 28.68
75.88%

RISK RETURN PROFILE SECURITISED DEBT 0

Risk : Low MATURITY PROFILE
Return : Low MMI 32.47

TOTAL 100 77.29%

BENCHMARK
CRISIL Short Term Bond Index NAV as on 31st March 2010 15.46
22.71%

DATE OF INCEPTION
12th September 2005 Less than 2 years 2 to 7 years
Average Maturity: 1.50 years Modified Duration : 1.33 years

as on 31st March 2010 PERFORMANCE - FUND V/S BENCHMARK

Assure BM

Last 1 year 9.85 9.85

Last 2 years 13.81 12.97
Last 3 years 14.75 12.99
Since Inception 12.01 10.05
Mar-08

May-08

Jun-08

Sep-08

Nov-08

Jan-09

Mar-09

May-09

Jul-09

Sep-09

Nov-09

Jan-10

Mar-10

FUND STYLE
Maturity
Volatility
Short Medium Long
Low
Medium
High

FUND MANAGER
Devendra Singhvi

Past performance is not necessarily indicative of future performance.

7
as on 31st March 2010

Income Advantage Fund

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
To provide capital preservation and GOVERNMENT SECURITIES 17.89 27.44%
regular income, at a high level of G-Secs
6.07% Government of India 2014 3.25
safety over a medium term horizon by 17.89%
investing in high quality debt 7.99% Government of India 2017 2.88 NCD
54.67%
instruments. 7.59% Government of India 2016 2.83

STRATEGY 7.46% Government of India 2017 2.82

8.35% Government of India 2022 1.72
To actively manage the fund by
building a portfolio of fixed income
6.35% Government of India 2020 1.69 RATING PROFILE
instruments with medium term 6.9% Government of India 2019 1.58
A1+ AA
duration. The fund will invest in 8.24% Government of India 2027 1.13
Sovereign
1.28% 5.06% AA+
government securities, high rated 20.34% 6.17%
corporate bonds, high quality money CORPORATE DEBT 54.67 P1+/A1+
market instruments and other fixed 18.09%
10.05% National Bank Agri. & Rur. Dev 2014 4.96
income securities. The quality of the AAA
11.4% Power Finance Corp Ltd 2013 3.15 49.07%
assets purchased would aim to
minimize the credit risk and liquidity 9.1% State Bank of Mysore 2019 2.87
risk of the portfolio. The fund will 8.9% Power Grid Corp Ltd. 2014 2.86
maintain reasonable level of liquidity.
8.9% Steel Authority of India Ltd. 2019 2.84 MATURITY PROFILE
ASSET ALLOCATION 11.5% Rural Electrification Corp Ltd 2013 2.84
40.06%
7.45% Tata Capital Ltd 2011 2.27
Equity : NIL 37.26%
22.67%
8.6% Power Finance Corp Ltd 2014 2.26
Debt : 100%
10.1% Reliance Industries Ltd. 2011 2.19
2% Indian Hotels Co. Ltd. 2014 2.06
RISK RETURN PROFILE
Other Corporate Debt 26.37
Risk : Low
Less than 2 years 2 to 7years 7years & above
Return : Low SECURITISED DEBT 0
Average Maturity: 5.13 years Modified Duration : 3.84 years

BENCHMARK 27.44
MMI
CRISIL Composite Bond Index
TOTAL 100
DATE OF INCEPTION NAV as on 31st March 2010 13.02
22nd August 2008

as on 31st March 2010

Last 1 year 10.07 10.07

Last 2 years - -
Last 3 years - -
Since Inception 18.81 17.86

FUND STYLE
Maturity
Volatility
Short Medium Long
Low
Medium
High

FUND MANAGER
Vikram Kotak

Past performance is not necessarily indicative of future performance.

8
 as on 31st March 2010

Protector Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
Equities
To generate persistent return GOVERNMENT SECURITIES 21.69 8.96%
through active management of fixed 6.9% Government of India 2019 2.97 MMI
14.83%
income portfolio and focus on
6.35% Government of India 2020 2.83
creating long-term equity portfolio,
which will enhance yield of composite 7.44% Government of India 2012 2.45
NCD
portfolio with minimum risk appetite. 7.5% Government of India 2034 2.39 54.52%
G-Secs
8.24% Government of India 2027 1.88
STRATEGY 21.69%
6.07% Government of India 2014 1.65
To invest in fixed income securities 7.95% Government of India 2032 1.59
with marginal exposure to equity up RATING PROFILE
to 10% at low level of risk. This fund is 7.59% Government of India 2015 1.51
suitable for those who want to protect 8.2% Government of India 2022 1.41
their capital and earn steady return 7.46% Government of India 2017 1.34 P1+/A1+
on investment through higher P1/A1 2.17% AA
Other Government Securities 1.66 Sovereign 1.54% 4.39%
exposure to debt securities. 27.77% AA+
6.95%
ASSET ALLOCATION CORPORATE DEBT 54.52
8.55% LIC Housing Finance Ltd. 2011 3.41
Equity : 0%-10%
9% Tata Sons Ltd. 2010 2.85
Debt : 90%-100% AAA
11.45% Reliance Industries Ltd. 2013 2.77 57.17%

8.9% Steel Authority of India Ltd. 2019 2.05

RISK RETURN PROFILE
9.45% Rural Electrification Corp Ltd 2013 1.95
Risk : Low
11.5% Rural Electrification Corp Ltd 2013 1.71 SECTORAL ALLOCATION - TOP 10
Return : Low 11.4% Power Finance Corp Ltd 2013 1.70
9.4% Tata Tea Ltd. 2010 1.63
BENCHMARK 1.60
10.1% Reliance Industries Ltd. 2011 BANKING 19.78%
BSE 100 & CRISIL Composite 8.85% Tata Sons Ltd. 2016 1.59 OIL & GAS 13.30%
Bond Index CAPITAL GOODS 10.19%
Other Corporate Debt 33.26
METAL 9.04%
EQUITY 8.96 IT 8.91%
DATE OF INCEPTION
PHARMA 6.81%
Reliance Industries Ltd. 0.66
22nd March 2001 FIN. SERVICES 5.71%
ICICI Bank Ltd. 0.48
POWER 5.58%
Infosys Technologies Ltd. 0.47 FMCG 4.87%
as on 31st March 2010 Larsen & Toubro Ltd. 0.38 CEMENT 4.57%

Sterlite Industries Ltd. 0.36

Oil & Natural Gas Corporation Ltd. 0.31
Last 1 year 14.42 14.42
ITC Ltd 0.30
MATURITY PROFILE
Last 2 years 12.01 11.36 HDFC Bank Ltd. 0.29
Last 3 years 12.56 11.25 Housing Development Finance Corp Ltd 0.27 38.88%
33.97%
Since Inception 12.69 8.82 State Bank Of India 0.27
27.15%
Other Equity 5.17

FUND STYLE MMI 14.83 Less than 2 years 2 to 7 years 7 years & above

Market Maturity Average Maturity: 5.73 years Modified Duration : 3.75 years
TOTAL 100
Cap Short Medium Long
NAV as on 31st March 2010 21.46 PERFORMANCE - FUND V/S BENCHMARK
Large
Mid
Protector I BM
Small

FUND MANAGER
Sunil Kumar (Equity)
May-04

Oct-04

Mar-05

Aug-05

Jan-06

Nov-06

Apr-07

Sep-07

Feb-08

Jul-08

Dec-08

May-09

Oct-09

Mar-10

Devendra Singhvi (Debt)

Past performance is not necessarily indicative of future performance. 9

as on 31st March 2010

Builder Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
To build your capital and generate GOVERNMENT SECURITIES 17.43 15.35%

better returns at moderate level of 6.35% Government of India 2020 3.08 Equities
risk, over a medium or long-term 18.53%
6.07% Government of India 2014 2.29
period through a balance of
investment in equity and debt. 7.44% Government of India 2012 2.25 NCD
48.70%
6.9% Government of India 2019 2.12
STRATEGY G-Secs
8.2% Government of India 2022 1.88 17.43%

Generate better return with moderate 7.95% Government of India 2032 1.47
level of risk through active
7.59% Government of India 2015 1.13
management of fixed income
9.4% Government of India 2012 0.80
RATING PROFILE
portfolio and focus on creating long
term equity portfolio which will 7.99% Government of India 2017 0.78
enhance yield of composite portfolio P1+/A1+ A+
7.46% Government of India 2017 0.76 1.13% 1.20% AA+
with low level of risk appetite. 9.76%
Other Government Securities 0.87 Sovereign
ASSET ALLOCATION 26.66%

Equity : 10%-20% CORPORATE DEBT 48.70

11.45% Reliance Industries Ltd. 2013 5.64
Debt : 80%-90% AAA
8.85% Tata Sons Ltd. 2016 2.57 61.26%

9.5% Indian Hotels Co. Ltd. 2012 2.46

RISK RETURN PROFILE
8.75% Indian Railway Fin Corp. Ltd. 2013 2.26
Risk : Low
8.55% LIC Housing Finance Ltd. 2011 2.24
Return : Low 9.76% Indian Railway Fin Corp. Ltd. 2012 2.01 SECTORAL ALLOCATION - TOP 10
10% National Bank Agri. & Rural Dev 2012 2.01
BENCHMARK BANKING 17.31%
9.47% Power Grid Corp Ltd. 2014 1.96
BSE 100 & CRISIL Composite 8.73% Power Grid Corp Ltd. 2010 1.93
OIL & GAS 15.06%
Bond Index CAPITAL GOODS 14.45%
9.9% Tata Sons Ltd. 2011 1.71
PHARMA 9.09%
Other Corporate Debt 23.90
DATE OF INCEPTION IT 8.28%
EQUITY 18.53 POWER 6.51%
22nd March 2001
Reliance Industries Ltd. 1.36 METAL 6.18%

ICICI Bank Ltd. 1.08 FIN. SERVICES 5.40%

Infosys Technologies Ltd. 0.93 FMCG 4.45%

as on 31st March 2010 0.80 CONSTRUCTION 3.81%
Larsen & Toubro Ltd.
Bharat Heavy Electricals Ltd. 0.73
MATURITY PROFILE
State Bank of India 0.69
Last 1 year 23.30 23.30 41.94%
Sterlite Industries Ltd. 0.64 37.78%
Last 2 years 14.40 13.49
Housing Development Finance Corp Ltd 0.63 20.28%
Last 3 years 14.96 13.15
Oil & Natural Gas Corporation Ltd. 0.60
Since Inception 18.27 11.40 0.58
ITC Ltd
Less than 2 years 2 to 7 years 7 years & above
Other Equity 10.49 Average Maturity: 4.88 years Modified Duration : 3.46 years
FUND STYLE
MMI 15.35
Maturity PERFORMANCE - FUND V/S BENCHMARK
Market
Cap Short Medium Long TOTAL 100
Builder BM
Large
NAV as on 31st March 2010 26.50
Mid
Small

FUND MANAGER
May-04

Oct-04

Mar-05

Aug-05

Jan-06

Jun-06

Nov-06

Apr-07

Sep-07

Feb-08

Jul-08

Dec-08

May-09

Oct-09

Mar-10

Sameer Mistry (Equity)

Devendra Singhvi (Debt)

Past performance is not necessarily indicative of future performance.

10
 as on 31st March 2010

Balancer Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
To achieve value creation of the GOVERNMENT SECURITIES 16.75 NCD 2.94%
G-Secs
16.75%
policyholder at an average risk level 7.95% Government of India 2032 3.21 56.17%

over medium to long-term period.

5.64% Government of India 2019 2.99
7.44% Government of India 2012 2.83
STRATEGY 7.46% Government of India 2017 2.77
Equities
To invest predominantly in debt 6.9% Government of India 2019 1.73 24.15%

securities with an additional 7% Government of India 2022 1.66

exposure to equity, maintaining 6.35% Government of India 2020 1.56
medium term duration profile of the RATING PROFILE
portfolio.
CORPORATE DEBT 56.17
AA+
ASSET ALLOCATION 6.77% National Housing Bank 2013 7.36 8.23%

Equity : 10%-25% 10.9% Rural Electrification Corp Ltd 2013 5.05

Sovereign
Debt : 75%-90% 10.05% National Bank Agri. & Rur. Dev 2014 3.89 23.05%

9.45% Lic Housing Finance Ltd. 2012 3.84

AAA
RISK RETURN PROFILE 7.05% Canara Bank 2014 3.51 68.72%

Risk : Moderate 8.49% Power Finance Corporation Ltd 2011 3.39

9.47% Power Grid Corporation Ltd. 2022 2.90 SECTORAL ALLOCATION - TOP 10
Return : Moderate
11% Infrastructure Dev Fin Co Ltd. 2010 2.81
11.45% Reliance Industries Ltd. 2013 2.06
BENCHMARK BANKING 16.02%

11.4% Power Finance Corp Ltd 2013 2.06 OIL & GAS 13.96%
BSE 100 & CRISIL Composite
Bond Index Other Corporate Debt 19.29 CAPITAL GOODS 12.91%

METAL 10.36%

EQUITY 24.15 IT 8.04%

DATE OF INCEPTION
Reliance Industries Ltd. 1.87 CEMENT 6.04%

18th July 2005 ICICI Bank Ltd. 1.45 PHARMA 5.33%

Sterlite Industries Ltd. 1.18 AUTO 4.93%

Infosys Technologies Ltd. 1.11 FMCG 4.65%

as on 31st March 2010
Larsen & Toubro Ltd. 0.93 CONSTRUCTION 4.32%

ITC Ltd 0.88

Last 1 year 25.44 25.44 State Bank of India 0.86

Bharat Electronics Ltd. 0.69
Last 2 years 17.04 15.79 MATURITY PROFILE
Housing Development Finance Corp Ltd 0.68
Last 3 years 17.38 15.01
0.66 43.31%
Bajaj Holdings and Investment Ltd
Since Inception 14.81 11.89 30.35%
Other Equity 13.84 26.34%

MMI 2.77
FUND STYLE
Market Maturity TOTAL 100 Less than 2 years 2 to 7years 7years & above

Cap Short Medium Long Average Maturity: 5.31 years Modified Duration : 3.62 years
NAV as on 31st March 2010 16.97
Large
PERFORMANCE - FUND V/S BENCHMARK
Mid
Small
Balancer BM

FUND MANAGER
Deven Sangoi (Equity)
Ajit Kumar PPB (Debt)
Jan-10
Feb-10
Mar-10
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08

Past performance is not necessarily indicative of future performance.

11
as on 31st March 2010

Enhancer Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%) SECURITISED DEBT
MMI
0.65%
To grow your capital through GOVERNMENT SECURITIES 15.98 17.25%

enhanced returns over a medium to 6.9% Government of India 2019 4.87 NCD
long term period through investments 40.02%
in equity and debt instruments, 6.35% Government of India 2020 2.18 G-Secs
15.98%
thereby providing a good balance 7.95% Government of India 2032 1.35
between risk and return. 7.94% Government of India 2021 0.92
8.2% Government of India 2022 0.91 Equities
26.10%
STRATEGY 7.5% Government of India 2034 0.63
8.24% Government of India 2027 0.57
To earn capital appreciation by RATING PROFILE
maintaining diversified equity 7.44% Government of India 2012 0.55
portfolio and seek to earn regular 7.61% Government of India 2015 0.50
A+
return on fixed income portfolio by 6.07% Government of India 2014 0.45 A1+ 0.58% P1/A1
active management resulting in 0.44% 0.73% P1+/A1+
Other Government Securities 3.05 AA
wealth creation for policyholders. AA-
5.05%
5.31%
Sovereign 0.15%
28.55% AA+
ASSET ALLOCATION CORPORATE DEBT 40.02 11.77%

Equity : 20%-35% 10.75% Reliance Industries Ltd. 2018 1.12

Debt : 65%-80% 10.25% Tech Mahindra Ltd. 2014 1.01
AAA
10.2% Tata Steel Ltd. 2015 0.99 47.42%

RISK RETURN PROFILE 8.65% Rural Electrification Corp Ltd 2019 0.72
9.05% State Bank of India 2020 0.67
Risk : Moderate
9.8% LIC Housing Finance Ltd. 2017 0.66 SECTORAL ALLOCATION - TOP 10
Return : Moderate
11.45% Reliance Industries Ltd. 2013 0.64
9.15% Mahindra & Mahindra Ltd. 2011 0.60 BANKING 16.53%
BENCHMARK
9.4% Tata Tea Ltd. 2010 0.59 OIL & GAS 14.84%

BSE 100 & CRISIL Composite CAPITAL GOODS 12.08%

Bond Index 8.55% Indian Railway Fin Corp Ltd. 2019 0.57
IT 9.08%

Other Corporate Debt 32.45 PHARMA 7.85%

DATE OF INCEPTION SECURTISED DEBT 0.65 POWER 6.80%

FINANCIAL SERVICES 5.38%

India Struct Asset Trust Xii Ptc A11 2015 0.41
22nd March 2001 FMCG 5.23%

Corporate Debt Trust 2008-09 SR 16 2010 0.25 AUTO 4.76%

METAL 4.16%

Equity 26.10
as on 31st March 2010
Reliance Industries Ltd. 1.73
MATURITY PROFILE
ICICI Bank Ltd. 1.48
Last 1 year 28.49 28.49 Infosys Technologies Ltd. 1.43 39.50% 38.34%
Last 2 years 12.27 11.60 Larsen & Toubro Ltd. 1.19 22.16%

13.45 11.96 Oil & Natural Gas Corporation Ltd. 0.99

Last 3 years
State Bank Of India 0.97
Since Inception 24.37 13.75
ITC Ltd 0.92 Less than 2 years 2 to 7years 7years & above

Bharat Heavy Electricals Ltd. 0.90 Average Maturity: 6.57 years Modified Duration : 4.34 years
FUND STYLE
NTPC Ltd. 0.89
Market Maturity PERFORMANCE - FUND V/S BENCHMARK
Housing Development Finance Corp Ltd 0.79
Cap Short Medium Long
Other Equity 14.79
Large Enhancer BM

Mid MMI 17.25

Small
TOTAL 100
FUND MANAGER NAV as on 31st March 2010 32.01
May-04
Oct-04
Mar-05
Aug-05
Jan-06
Jun-06
Nov-06
Apr-07
Sep-07
Feb-08
Jun-08
Dec-08
May-09
Oct-09
Mar-10

Deven Sangoi (Equity)

Ajit Kumar PPB (Debt)

Past performance is not necessarily indicative of future performance.

12
 as on 31st March 2010

Creator Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
To achieve optimum balance GOVERNMENT SECURITIES 9.14 16.83%
G-Secs
between growth and stability to 7.59% Government of India 2016 2.26 9.14%
provide long-term capital 1.45
6.07% Government of India 2014 Equities
appreciation with balanced level of 43.50%
risk by investing in fixed income 7.99% Government of India 2017 1.14
securities and high quality equity 8.24% Government of India 2027 1.04
NCD
security. 6.9% Government of India 2019 0.94 30.53%

STRATEGY 5.64% Government of India 2019 0.89

6.35% Government of India 2020 0.76
To ensure capital appreciation by RATING PROFILE
7.46% Government of India 2017 0.67
simultaneously investing into fixed
income securities and maintaining
A+
diversified equity portfolio. Active CORPORATE DEBT 30.53 1.64% AA+
Sovereign
fund management is carried out to 8.6% Power Finance Corp Ltd 2014 3.70 25.61% 10.46%
enhance policyholder’s wealth in 11.45% Reliance Industries Ltd. 2013 1.87
long run.
10.1% Power Grid Corporation Ltd. 2013 1.79
ASSET ALLOCATION 9.47% Power Grid Corporation Ltd. 2013 1.76
AAA
62.29%
Equity : 30%-50% 9.5% National Bank Agri. & Rural Dev 2012 1.75
Debt : 50%-70% 7.4% Tata Chemicals Ltd. 2011 1.69
8.45% Indian Railway Fin Corp Ltd. 2018 1.66
RISK RETURN PROFILE 8.9% Steel Authority of India Ltd. 2019 1.52
SECTORAL ALLOCATION - TOP 10
Risk : Moderate 11.4% Power Finance Corp Ltd 2013 1.31
8.75% Indian Railway Fin Corp Ltd. 2013 1.21
Return : Moderate BANKING 18.67%
Other Corporate Debt 12.27
CAPITAL GOODS 13.65%
BENCHMARK OIL & GAS 13.36%
Equity 43.50
BSE 100 & CRISIL Composite IT 8.01%

Bond Index Reliance Industries Ltd. 3.68 METAL 7.33%

Larsen & Toubro Ltd. 2.41 FMCG 5.77%

ICICI Bank Ltd. 2.33 FINANCIAL SERVICES 5.49%

DATE OF INCEPTION
Infosys Technologies Ltd. 2.23 PHARMA 4.81%
23rd February 2004 AUTO 4.35%
Housing Development Finance Corp Ltd 1.71
CEMENT 3.74%
Bharat Heavy Electricals Ltd. 1.67
as on 31st March 2010 Sterlite Industries Ltd. 1.62
ITC Ltd 1.51 MATURITY PROFILE
State Bank of India 1.39
45.70%
Last 1 year 51.80 51.80 HDFC Bank Ltd. 1.37 35.26%
Last 2 years 21.92 19.93 Other Equity 23.59 19.05%

Last 3 years 24.11 19.89

Since Inception 24.74 16.27 MMI 16.83
Less than 2 years 2 to 7years 7years & above
TOTAL 100
FUND STYLE Less than 2 years 2 to 7 years 7 years & above
NAV as on 31st March 2010 25.10 Average Maturity: 4.94 years Modified Duration : 3.65 years
Market Maturity
Cap Short Medium Long PERFORMANCE - FUND V/S BENCHMARK
Large
Creator BM
Mid
Small

FUND MANAGER
Vikram Kotak
Mar-10
Oct-09
May-09
Dec-08
Jul-08
Feb-08
Sep-07
Apr-07
Nov-06
Jun-06
Jan-06
Aug-05
Mar-05
Oct-04
May-04

Past performance is not necessarily indicative of future performance.

13
as on 31st March 2010

Magnifier Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To maximize wealth by actively GOVERNMENT SECURITIES 0.00 NCD MMI
1.48% 10.64%
managing a diversified equity CORPORATE DEBT 1.48 Equities
portfolio. 87.89%
5.55% Export Import Bank of India 2012 1.10
STRATEGY 7.55% HCL Technologies Ltd. 2011 0.22

To invest in high quality equity 8.2% Indian Railway Fin Corp Ltd. 2011 0.15
security to provide long-term capital
appreciation with high level of risk. EQUITY 87.89
This fund is suitable for those who Reliance Industries Ltd. 6.27
want to have wealth maximization RATING PROFILE
ICICI Bank Ltd. 5.04
over long-term period with equity
market dynamics. Infosys Technologies Ltd. 4.27
Larsen & Toubro Ltd. 3.61
ASSET ALLOCATION Sovereign AA+
P1/A1
Sterlite Industries Ltd. 3.52 11.32% 2.65%
8.43%
AAA
Equity : 50%-90% Bharat Heavy Electricals Ltd. 3.41 14.84%
P1+/A1+
Debt : 10%-50% State Bank of India 3.14
62.77%

Housing Development Finance Cor Ltd 2.99

RISK RETURN PROFILE Oil & Natural Gas Corporation Ltd. 2.73
Risk : Moderate HDFC Bank Ltd. 2.70
Return : Moderate Other Equity 50.21

SECTORAL ALLOCATION - TOP 10

BENCHMARK MMI 10.64
BSE 100 & CRISIL Liquid Fund Index TOTAL 100
BANKING 17.19%

NAV as on 31st March 2010 26.44 OIL & GAS 14.52%

CAPITAL GOODS 13.77%

DATE OF INCEPTION PHARMA 8.82%

IT 7.58%
12th August 2004 METAL 7.09%

POWER 6.28%

FINANCIAL SERVICES 5.72%

FMCG 4.24%
as on 31st March 2010 CONSTRUCTION 3.93%

Last 1 year 74.86 74.86

PERFORMANCE - FUND V/S BENCHMARK
Last 2 years 8.86 8.50
Last 3 years 14.27 12.61 Magnifier BM

Since Inception 29.17 18.83

FUND STYLE
Market Style
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
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

Cap Value Growth

Large
Mid
Small EQUITY ALLOCATION % MKT CAP (in Rs. Crores)
0-5k
14.54%
FUND MANAGER 5k-10k
7.38%
>50k 10k-20k
Sameer Mistry (Equity) 55.03% 8.48%
Devendra Singhvi (Debt)
20k-30k
9.17%
30k-50k
5.41%

Past performance is not necessarily indicative of future performance.

14
 as on 31st March 2010

Maximiser Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
GOVERNMENT SECURITIES 0.00 MMI
To Provide long-term capital 9.11%
appreciation by actively managing a CORPORATE DEBT 0.00 Equities
well diversified equity portfolio of 90.89%
fundamentally strong blue chip EQUITY 90.89
companies and provide a cushion Reliance Industries Ltd. 7.78
against the volatility in the equities
Infosys Technologies Ltd. 5.12
through investment in money market
instruments. ICICI Bank Ltd. 5.05

STRATEGY Larsen & Toubro Ltd. 4.48

Sterlite Industries Ltd. 3.92
Active Fund Management with RATING PROFILE
Oil & Natural Gas Corporation Ltd. 3.57
potentially 100% equity exposure.
Maintaining High Quality Diversified ITC Ltd 3.31 P1+/A1+
27.03%
Portfolio with Dynamic blend of State Bank of India 3.16
Sovereign
Growth and Value Stocks- so that HDFC Bank Ltd. 3.16 72.97%
portfolio doesnot suffer from style
Bharat Heavy Electricals Ltd. 2.91
bias. Focus on large-caps and quality
mid-caps to ensure liquidity and Other Equity 48.43
reduce risk.

ASSET ALLOCATION MMI 9.11

SECTORAL ALLOCATION - TOP 10
Equity : 80%-100% TOTAL 100
Debt : 0%-20% NAV as on 31st March 2010 14.11
BANKING 17.38%
RISK RETURN PROFILE OIL & GAS 15.36%

CAPITAL GOODS 12.84%

Risk : High
IT 9.62%
Return : High METAL 7.29%

PHARMA 7.06%
BENCHMARK
POWER 5.72%
BSE 100 & CRISIL Liquid Fund Index FMCG 4.99%

FINANCIAL SERVICES 4.67%

AUTO 3.88%
DATE OF INCEPTION
12th June 2007
PERFORMANCE - FUND V/S BENCHMARK
as on 31st March 2010
Maximizer BM

Last 1 year 91.14 91.14

Last 2 years 14.76 13.80
Last 3 years - -
Since Inception 14.67 13.07
Mar-10
Dec-09
Sep-09
Jun-09
Mar-09
Dec-08
Sep-08
Jun-08
Mar-08
Dec-07
Sep-07
Jun-07

FUND STYLE
Market Style EQUITY ALLOCATION % MKT CAP (in Rs. Crores)
Cap Value Growth
0-5k 5k-10k 10k-20k
Large 11.01% 5.22% 7.22%
Mid
>50k
Small 61.86%
20k-30k
7.53%
FUND MANAGER
30k-50k
Deven Sangoi 7.16%

Past performance is not necessarily indicative of future performance.

15
as on 31st March 2010

Super 20 Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To generate long-term capital GOVERNMENT SECURITIES 0.00 MMI
15.13%
appreciation for policyholders by CORPORATE DEBT 0.00 Equities
making investments in fundamentally 84.87%
strong and liquid large cap EQUITY 84.87
companies. Reliance Industries Ltd. 9.21
STRATEGY State Bank Of India 6.16
ICICI Bank Ltd. 6.10
To build and manage a concentrated
Larsen & Toubro Ltd. 6.10
equity portfolio of 20 fundamentally
strong large cap stocks in terms of Infosys Technologies Ltd. 6.04
RATING PROFILE
market capitalization by following an Sterlite Industries Ltd. 5.25
in-depth research-focused HDFC Bank Ltd. 4.57
investment approach. The fund will
Housing Development Finance Cor Ltd 4.25 P1+ / A1+
attempt diversify across sectors and 100.00%
will invest in companies having Bharat Heavy Electricals Ltd. 4.12
financial strength, robust, efficient & Oil India Ltd. 3.82
visionary management & adequate Other Equity 29.23
market liquidity. It will adopt a
disciplined and flexible approach
towards investing with a focus on MMI 15.13
generating long-term capital
appreciation. The non-equity portion TOTAL 100
of the fund will be invested in highly
rated money market instruments and NAV as on 31st March 2010 12.31 SECTORAL ALLOCATION - TOP 10
fixed deposits.
BANKING 19.84%
ASSET ALLOCATION
OIL & GAS 15.36%
Equity : 80%-100%
CAPITAL GOODS 15.27%
Debt : 0%-20%
IT 9.42%

RISK RETURN PROFILE AUTO 7.62%

Risk : High PHARMA 7.58%

Return : High
METAL 6.19%

FMCG 5.69%
BENCHMARK
FIN. SERVICES 5.01%
Sensex & CRISIL Liquid Fund Index
TELECOM 4.47%

DATE OF INCEPTION
6th July 2009

FUND STYLE
Market Style
Cap Value Growth
Large
Mid
Small

FUND MANAGER

Vikram Kotak

Past performance is not necessarily indicative of future performance.

16
 as on 31st March 2010

Multiplier Fund
ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To provide long-term wealth GOVERNMENT SECURITIES 0.00 MMI
16.86%
maximisation by actively managing a CORPORATE DEBT 0.00 Equities
well-diversified equity portfolio, 83.14%
predominantly comprising of EQUITY 83.14
companies whose market Gujarat State Petronet Ltd 2.44
capitalization is between Rs. 10
Mphasis Ltd 2.31
billion to Rs.250 billion. Further, the
fund would also seek to provide a Colgate-Palmolive (I) Ltd. 2.24
cushion against the sudden volatility Hindustan Construction Co. Ltd. 2.18
in the equities through some Divis Laboratories Ltd. 2.07
investments in short-term money RATING PROFILE
Zee Entertainment Enterprises Ltd 2.03
market instruments.
Mangalam Cement Ltd. 1.99
STRATEGY
Ashok Leyland Ltd. 1.92
Active Fund Management with Dishman Pharmaceuticals & Chemicals Ltd. 1.84
potentially 100% equity Exposure 1.79
Century Textiles & Industries Ltd.
Research based investment
approach with a dedicated & Other Equity 62.33
experienced in-house research
MMI 16.86 P1+ / A1+
team. Identify undervalued Stocks in
100.00%
the growth phase. Focus on niche TOTAL 100
players with competitive advantage,
in the sunrise industry & potential of NAV as on 31st March 2010 11.58
SECTORAL ALLOCATION - TOP 10
being tomorrow’s large cap.
Emphasis on early identification of
stocks.
BANKING 13.90%
ASSET ALLOCATION CAPITAL GOODS 10.41%
IT 8.85%
Equity : 80%-100% PHARMA 8.80%
Debt : 0%-20% METAL 7.92%

RISK RETURN PROFILE CONSTRUCTION 7.27%

FMCG 5.76%
Risk : High OIL & GAS 4.79%
Return : High MEDIA & ENTERTAINMENT 4.41%

BENCHMARK CEMENT 4.03%

CNX Midcap & CRISIL Liquid Fund

Index
PERFORMANCE - FUND V/S BENCHMARK
DATE OF INCEPTION
30th October 2007 Multiplier BM

as on 31st March 2010

Last 1 year 139.39 139.39

Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
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

Last 2 years 23.28 21.06

Last 3 years - -
Since Inception 6.53 6.25 EQUITY ALLOCATION % MKT CAP (in Rs. Crores)

FUND STYLE 0-2k

>10 20.98% 2k-3k
2.91%
Market Style 28.27%
3k-5k
Cap Value Growth 21.03%

Large
5k-10k
Mid 26.82%

Small

FUND MANAGER
Vikram Kotak

Past performance is not necessarily indicative of future performance.

17
as on 31st March 2010

Platinum Plus Fund - I

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
To optimize the participation in an GOVERNMENT SECURITIES 0.00 NCD 9.32%
3.70%
actively managed well diversified
equity portfolio of fundamentally
CORPORATE DEBT 3.70
strong blue chip companies while
using debt instruments & derivatives National Bank for Agri. & Rural Dev 2017 2.56
to lock-in capital appreciations. National Housing Bank 2018 1.13
Equities
STRATEGY 86.98%
EQUITY 94.93
To have an optimum mix of equities 6.81
Reliance Industries Ltd.
& fixed income instruments, with up SECTORAL ALLOCATION - TOP 10
to 100% exposure in both equities & Larsen & Toubro Ltd. 5.07
fixed income assets & up to 40% in ICICI Bank Ltd. 5.04
Money Market. Infosys Technologies Ltd. 4.60 BANKING 19.33%

OIL & GAS 15.89%

Bharat Heavy Electricals Ltd. 4.51
CAPITAL GOODS 14.79%
ASSET ALLOCATION State Bank Of India 3.47
IT 9.92%
Equity : 0%-100% Sterlite Industries Ltd. 3.44
METAL 6.09%
Debt : 0%-100% Housing Development Finance Cor Ltd 3.29 FMCG 5.91%

HDFC Bank Ltd. 3.16 FINANCIAL SERVICES 5.69%

RISK RETURN PROFILE Oil & Natural Gas Corporation Ltd. 3.06 PHARMA 5.52%

44.54 POWER 4.39%

Risk : Moderate Other Equity
AUTO 3.54%

Return : Moderate
MMI 9.32
BENCHMARK TOTAL 100
NIL
MATURITY PROFILE
Guaranteed Maturity Unit Price 11.10
DATE OF INCEPTION NAV as on 31st March 2010 10.94 71.16%

17th March 2008

28.84%

Less than 2 years 7years & above

as on 31st March 2010

Last 1 year 55.96 55.96

Last 2 years 2.44 2.41
Last 3 years - -
Since Inception 4.59 4.49

FUND STYLE
Market Maturity
Cap Short Medium Long
Large
Mid
Small

FUND MANAGER
Vikram Kotak

Past performance is not necessarily indicative of future performance.

18
 as on 31st March 2010

Platinum Plus Fund - II

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To optimize the participation in an GOVERNMENT SECURITIES 0.00 NCD MMI
0.81% 10.60%
actively managed well diversified
equity portfolio of fundamentally CORPORATE DEBT 0.81 Equities
strong blue chip companies while National Bank for Agri. & Rural Dev 2019 0.81
88.59%
using debt instruments & derivatives
to lock-in capital appreciations.
EQUITY 95.95
STRATEGY
Reliance Industries Ltd. 6.67
To have an optimum mix of equities & Larsen & Toubro Ltd. 5.11
fixed income instruments, with up to ICICI Bank Ltd. 5.04 SECTORAL ALLOCATION - TOP 10
100% exposure in both equities &
Infosys Technologies Ltd. 4.64
fixed income assets & up to 40% in
BANKING 19.52%
Money Market. Bharat Heavy Electricals Ltd. 4.36
OIL & GAS 16.74%
State Bank Of India 3.55
CAPITAL GOODS 15.45%
ASSET ALLOCATION Sterlite Industries Ltd. 3.44
IT 10.00%
HDFC Bank Ltd. 3.19
Equity : 0%-100% METAL 6.00%
Housing Development Finance Corp Ltd 3.14
Debt : 0%-100% FMCG 5.96%
Oil & Natural Gas Corporation Ltd. 3.14
FINANCIAL SERVICES 5.70%
Other Equity 46.31
RISK RETURN PROFILE PHARMA 5.37%

Risk : Moderate POWER 4.17%

MMI 10.60 AUTO 3.67%

Return : Moderate
TOTAL 100
BENCHMARK
Guaranteed Maturity Unit Price 15.55
9.2650 MATURITY PROFILE
NIL
NAV as on 31st March 2010 15.36 91.80%
DATE OF INCEPTION
8th September 2008
8.20%

Less than 2 years 7years & above

as on 31st March 2010

Last 1 year 70.51 70.51

Last 2 years - -
Last 3 years - -
Since Inception 34.35 31.67

FUND STYLE
Market Maturity
Cap Short Medium Long
Large
Mid
Small

FUND MANAGER
Vikram Kotak

Past performance is not necessarily indicative of future performance.

19
as on 31st March 2010

Platinum Plus Fund - III

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To optimize the participation in an GOVERNMENT SECURITIES 0.00 NCD MMI
actively managed well diversified 3.85% 9.35%
CORPORATE DEBT 3.85
equity portfolio of fundamentally Equities
strong blue chip companies while National Housing Bank 2019 2.29 86.81%

using debt instruments & derivatives National Bank for Agri. & Rural Dev 2019 1.56
to lock-in capital appreciations.
EQUITY 86.81
STRATEGY Reliance Industries Ltd. 6.67
ICICI Bank Ltd. 5.17
To have an optimum mix of equities &
Larsen & Toubro Ltd. 5.01
fixed income instruments, with up to SECTORAL ALLOCATION - TOP 10
100% exposure in both equities & Infosys Technologies Ltd. 4.66
fixed income assets & up to 40% in Bharat Heavy Electricals Ltd. 4.49
Money Market. State Bank of India 3.47 BANKING 19.39%

OIL & GAS 15.54%

Sterlite Industries Ltd. 3.46
CAPITAL GOODS 14.73%
ASSET ALLOCATION HDFC Bank Ltd. 3.24
IT 10.03%
Equity : 0%-100% Housing Development Finance Corp Ltd 3.16
METAL 6.65%
Debt : 0%-100% Oil & Natural Gas Corporation Ltd. 3.02
FMCG 6.09%
Other Equity 44.45 5.71%
PHARMA
RISK RETURN PROFILE FINANCIAL SERVICES 5.49%

Risk : Moderate MMI 9.35 POWER 3.90%

AUTO 3.72%
Return : Moderate TOTAL 100

BENCHMARK Guaranteed Maturity Unit Price 12.06

9.2650
MATURITY PROFILE
NIL NAV as on 31st March 2010 11.80
68.23%

DATE OF INCEPTION
31.77%
15th May 2009

FUND STYLE Less than 2 years 7years & above

Market Maturity
Cap Short Medium Long
Large
Mid
Small

FUND MANAGER
Vikram Kotak

Past performance is not necessarily indicative of future performance.

20
 as on 31st March 2010

Platinum Plus Fund - IV

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To optimize the participation in an GOVERNMENT SECURITIES 0.00 NCD MMI
actively managed well diversified 2.30% 8.65%
CORPORATE DEBT 2.30
equity portfolio of fundamentally Equities
strong blue chip companies while National Housing Bank 2019 2.30 89.05%

using debt instruments & derivatives

to lock-in capital appreciations:
EQUITY 89.05
STRATEGY Reliance Industries Ltd. 6.76
ICICI Bank Ltd. 5.15
To have an optimum mix of equities &
Larsen & Toubro Ltd. 5.07
fixed income instruments, with up to SECTORAL ALLOCATION - TOP 10
100% exposure in both equities & Infosys Technologies Ltd. 4.86
fixed income assets & up to 40% in Bharat Heavy Electricals Ltd. 4.51
Money Market. Sterlite Industries Ltd. 3.49 BANKING 19.38%

OIL & GAS 16.53%

State Bank of India 3.46
CAPITAL GOODS 14.39%
ASSET ALLOCATION Housing Development Finance Corp Ltd 3.22
IT 10.20%
Equity : 0%-100% HDFC Bank Ltd. 3.10
FMCG 6.03%
Debt : 0%-100% Oil & Natural Gas Corporation Ltd. 3.07
PHARMA 5.96%
Other Equity 46.37 METAL 5.76%

RISK RETURN PROFILE FINANCIAL SERVICES 5.65%

Risk : Moderate MMI 8.65 POWER 3.90%

AUTO 3.44%
Return : Moderate TOTAL 100

BENCHMARK Guaranteed Maturity Unit Price 10.61

9.2650
MATURITY PROFILE
NIL NAV as on 31st March 2010 10.41
78.13%

DATE OF INCEPTION
21.87%
15th September 2009

FUND STYLE Less than 2 years 7years & above

Market Maturity
Cap Short Medium Long
Large
Mid
Small

FUND MANAGER
Vikram Kotak

Past performance is not necessarily indicative of future performance.

21
as on 31st March 2010

Pension Nourish Fund

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
To generate persistent return GOVERNMENT SECURITIES 17.60 MMI
12.16% Equities
through active management of fixed 6.35% Government of India 2020 5.35 NCD 9.30%
income portfolio and focus on 60.94%
7.59% Government of India 2016 4.28
creating long-term equity portfolio,
which will enhance yield of composite 7.95% Government of India 2032 2.87
G-Secs
portfolio with minimum risk appetite. 7.46% Government of India 2017 2.23 17.60%

STRATEGY 5.64% Government of India 2019 1.58

6.05% Government of India 2019 1.30
To invest in fixed income securities
with marginal exposure to equity up CORPORATE DEBT 60.94 RATING PROFILE
to 10% at low level of risk. This fund is
suitable for those who want to protect 11.45% Reliance Industries Ltd. 2013 6.23
AA+
their capital and earn steady return 11.5% Rural Electrification Corp Ltd 2013 6.23 5.92%
on investment through higher 9.4% Power Finance Corporation Ltd 2013 5.83 Sovereign
exposure to debt securities. 22.63%
9.9% Tata Sons Ltd. 2011 4.03 AAA
ASSET ALLOCATION 10.48% Grasim Industries Ltd. 2013 4.01 71.45%

Equity : 0%-10% 11.75% Rural Electrification Corp Ltd 2011 3.97

Debt : 90%-100% 9.25% Export Import Bank of India 2012 3.85
8.8% Power Grid Corporation Ltd. 2013 3.84
RISK RETURN PROFILE 11.95% Housing Dev Fin Corp Ltd 2018 2.64 MATURITY PROFILE
Risk : Low 9.45% LIC Housing Finance Ltd. 2012 2.31
Return : Low Other Corporate Debt 18.00
46.61%

BENCHMARK EQUITY 9.30 26.65% 26.74%

Reliance Industries Ltd. 0.66

BSE 100 & CRISIL Composite
Bond Index Infosys Technologies Ltd. 0.48
Less than 2 years 2 to 7years 7years & above
ICICI Bank Ltd. 0.42

DATE OF INCEPTION Sterlite Industries Ltd. 0.38 Average Maturity: 5.45 years Modified Duration : 3.75 years
Larsen & Toubro Ltd. 0.34
12th March 2003 SECTORAL ALLOCATION - TOP 10
State Bank of India 0.31
Oil & Natural Gas Corp Ltd. 0.30 BANKING 19.54%

as on 31st March 2010 Housing Development Finance Corp Ltd 0.27 OIL & GAS 13.55%
ITC Ltd 0.26
CAPITAL GOODS 10.57%
HDFC Bank Ltd. 0.25
METAL 9.24%
Last 1 year 14.02 14.02 Other Equity 5.64
IT 8.65%
Last 2 years 13.66 12.84
MMI 12.16 PHARMA 7.38%
Last 3 years 13.65 12.12
POWER 6.52%
Since Inception 11.36 8.70 TOTAL 100
FINANCIAL SERVICES 5.14%

NAV as on 31st March 2010 18.02 CEMENT 4.81%

FUND STYLE
FMCG 4.11%

Market Maturity
Cap Short Medium Long
PERFORMANCE - FUND V/S BENCHMARK
Large
Mid Nourish BM

Small

FUND MANAGER
May-04

Oct-04

Mar-05

Sunil Kumar (Equity)

Aug-05

Jan-05

Jun-05

Nov-05

Apr-07

Sep-07

Feb-08

Jul-08

Dec-08

May-08

Oct-09

Mar-10

Ajit Kumar PPB (Debt)

Past performance is not necessarily indicative of future performance.

22
 as on 31st March 2010

Pension Growth Fund

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
14.01%
To build your capital and generate GOVERNMENT SECURITIES 16.41
better returns at moderate level of 6.35% Government of India 2020 4.98 G-Secs
risk, over a medium or long-term 16.41%
7.44% Government of India 2012 3.28 NCD
period through a balance of 51.30%
investment in equity and debt. 7.95% Government of India 2032 3.07
7.59% Government of India 2016 2.08
7.46% Government of India 2017 1.94 Equities
STRATEGY 18.28%
5.64% Government of India 2019 1.06
Generate better return with moderate
level of risk through active CORPORATE DEBT 51.30 RATING PROFILE
management of fixed income
portfolio and focus on creating long 10.48% Grasim Industries Ltd. 2013 5.98
term equity portfolio which will 8.8% Power Grid Corporation Ltd. 2013 5.73 AA+
4.18%
enhance yield of composite portfolio 7.75% Rural Electrification Corp Ltd 2012 5.55 Sovereign
with low level of risk appetite. 4.65
24.85%
11.5% Rural Electrification Corp Ltd 2013
ASSET ALLOCATION 11.95% Housing Dev Finance Corp Ltd 2018 3.29 AAA
70.97%
Equity : 10%-20% 10.05% National Bank Agri & Rur Dev 2014 2.91
Debt : 80%-90% 9.8% Power Finance Corp Ltd 2012 2.91
9.2% Larsen & Toubro Ltd. 2012 2.87
RISK RETURN PROFILE 10.75% Reliance Industries Ltd. 2018 2.84
MATURITY PROFILE
11.45% Reliance Industries Ltd. 2013 2.47
Risk : Low
Other Corporate Debt 12.10
Return : Low 49.43%

24.14%
EQUITY 18.28 26.43%
BENCHMARK
Reliance Industries Ltd. 1.38
BSE 100 & CRISIL Composite
ICICI Bank Ltd. 1.10 Less than 2 years 2 to 7years 7years & above
Bond Index
Infosys Technologies Ltd. 0.97
Average Maturity: 5.52 years Modified Duration : 3.84 years
Larsen & Toubro Ltd. 0.70
DATE OF INCEPTION
Sterlite Industries Ltd. 0.70
18th March 2003
SECTORAL ALLOCATION - TOP 10
ITC Ltd 0.65
State Bank Of India 0.64 BANKING 15.97%

OIL & GAS 13.91%

as on 31st March 2010 NTPC Ltd. 0.60 CAPITAL GOODS 12.56%

Oil & Natural Gas Corporation Ltd. 0.55 METAL 10.12%

IT 7.56%
Bajaj Holdings And Investment Ltd 0.51
CEMENT 6.36%
Last 1 year 23.01 23.01 Other Equity 10.48 AUTO 4.99%

Last 2 years 18.30 16.88 PHARMA 4.92%

18.20 15.62
MMI 14.01 FINANCIAL SERVICES 4.69%
Last 3 years FMCG 3.49%

Since Inception 16.97 11.81 TOTAL 100

NAV as on 31st March 2010 21.95 PERFORMANCE - FUND V/S BENCHMARK
FUND STYLE
Pension Growth BM
Market Maturity
Cap Short Medium Long
Large
Mid
Mar-10
Oct-09
May-08
Dec-08
Jul-08
Feb-08
Sep-07
Apr-07
Nov-05
Jun-05
Jan-05
Aug-05
Mar-05
Oct-04
May-04

Small

FUND MANAGER
Deven Sangoi (Equity)
Ajit Kumar PPB (Debt)

Past performance is not necessarily indicative of future performance.

23
as on 31st March 2010

Pension Enrich Fund

ABOUT THE FUND PORTFOLIO as on 31st March 2010 ASSET ALLOCATION
OBJECTIVE SECURITIES HOLDING (%)
MMI
To grow your capital through GOVERNMENT SECURITIES 12.28 15.83%
G-Secs
enhanced returns over a medium to 6.35% Government of India 2020 2.51 12.28%
long term period through investments
in equity and debt instruments, 7.44% Government of India 2012 2.19
NCD
thereby providing a good balance 7.46% Government of India 2017 2.01 38.96%
Equities
between risk and return. 8.35% Government of India 2022 1.55 32.93%

7.95% Government of India 2032 1.35

STRATEGY
6.07% Government of India 2014 1.20
To earn capital appreciation by RATING PROFILE
5.64% Government of India 2019 0.76
maintaining diversified equity
7.99% Government of India 2017 0.71 AA+
portfolio and seek to earn regular 3.36%
return on fixed income portfolio by Sovereign
active management resulting in CORPORATE DEBT 38.96 23.96%
wealth creation for policyholders. 9.45% Rural Electrification Corp Ltd 2013 5.84
ASSET ALLOCATION 9.47% Power Grid Corporation Ltd. 2013 4.09
11.45% Reliance Industries Ltd. 2013 3.74 AAA
Equity : 20%-35% 72.68%
8.9% Steel Authority of India Ltd. 2019 2.81
Debt : 65%-80%
11.5% Rural Electrification Corp Ltd 2013 2.50
8.6% Power Finance Corporation Ltd 2014 1.82
RISK RETURN PROFILE MATURITY PROFILE
9.47% Power Grid Corporation Ltd. 2012 1.75
Risk : Moderate
8.49% Indian Railway Fin Corp Ltd. 2014 1.68
Return : Moderate
9.22% Power Finance Corp Ltd 2012 1.68 48.05%
30.21%
9.76% Indian Railway Fin Corp Ltd. 2012 1.18 21.74%
BENCHMARK
Other Corporate Debt 11.89
BSE 100 & CRISIL Composite
Bond Index Equity 32.93 Less than 2 years 2 to 7years 7years & above

Reliance Industries Ltd. 2.41

Average Maturity: 5.12 years Modified Duration : 3.62 years
DATE OF INCEPTION ICICI Bank Ltd. 1.97

12th March 2003 Infosys Technologies Ltd. 1.63 SECTORAL ALLOCATION - TOP 10
Larsen & Toubro Ltd. 1.40
Bharat Heavy Electricals Ltd. 1.32
BANKING 16.83%

State Bank of India 1.22

as on 31st March 2010 OIL & GAS 14.92%

Housing Development Finance Corp Ltd 1.15 CAPITAL GOODS 14.27%

Sterlite Industries Ltd. 1.10 PHARMA 9.13%

Last 1 year 37.23 37.23 Oil & Natural Gas Corporation Ltd. 1.05 IT 8.01%

Last 2 years 17.52 16.20 HDFC Bank Ltd. 1.03 POWER 6.43%

METAL 6.07%
Other Equity 18.65
Last 3 years 18.42 15.79 FINANCIAL SERVICES 5.85%

Since Inception 22.46 14.41 FMCG 4.36%

MMI 15.83
CONSTRUCTION 3.62%

FUND STYLE TOTAL 100

Market Maturity NAV as on 31st March 2010 25.85
Cap Short Medium Long PERFORMANCE - FUND V/S BENCHMARK
Large
Enrich BM
Mid
Small

FUND MANAGER
Sameer Mistry (Equity)
Mar-10
Oct-09
May-08
Dec-08
Jul-08
Feb-08
Sep-07
Apr-07
Nov-05
Jun-05
Jan-05
Aug-05
Mar-05
Oct-04
May-04

Ajit Kumar PPB (Debt)

Past performance is not necessarily indicative of future performance.

24
 as on 31st March 2010

Yogesh Nanda Senior Equity Dealer

Mr. Yogesh Nanda joined BSLI in June 2003 in Compliance and Risk Management team and moved to Investments team in December 2004.
He is primarily responsible for equity trade execution, keeping track on market information and seamless execution of equity transaction. He is
an ACA by profession and has over 7 years of experience in Audits, Investment mid-office as well as equity dealing.
Yogesh was a part of the core team members when the Investments team was set up and played a key role in setting up the required systems
and processes for seamless portfolio tracking. He was awarded 'The Best Employee' award in 2005 - 2006.
His hobbies comprise of reading books and listening to music.

Ms Neha Agrawal Asst Manager - Investments Communication and Advisory

Ms. Neha Agrawal joined BSLI in December 2005 and has over 4 years of experience. She has undertaken various responsibilities ranging
from Investment Advisory to Credit Research to Strategy including investment processes, benchmarking, new fund offerings and media
coverages.
Currently, she is working closely with the CIO on various strategic initiatives. As a recognition for her commitment to her work and endeavors,
she was nominated for the Aditya Birla Group's Annual Chairman's Individual Award under the category 'Young Professionals' in 2009.
Neha has done her MBA in Finance from Management Development Institute, Gurgaon in 2005 from where she joined Aditya Birla Group as a
Group Management Trainee. During her first year of training, she worked on various projects at different group companies like Aditya Birla
Nuvo, Birla Copper and Aditya Birla Group's Corporate Strategy Cell. She has been with BSLI since December 2005.
Her hobbies comprise of listening to music and spending time with her family, especially her year old son.

Please mail your feedback / suggestions to us on: bsli.investments@birlasunlife.com

Disclaimer: This document is intended for the use of the individual or entity to which it is addressed and fully contains information that is privileged, proprietary,
confidential and exempt from disclosures. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its
accuracy or completeness cannot be guaranteed. Neither Birla Sun Life Insurance Company Limited, nor any person connected with it, accepts ant liability arising from the
use of this document. The recipients of this material should rely on their own investigations. Past performance is not an indication of future performance. The CAGR &
annualised returns are calculated based on unit price growth over the period and are applicable to a single premium investment held over that period. Instruments in which
investments are made under each fund option are subject to market risk. The various funds (Secure, Stable, Growth, Fixed Interest, Bond & Capital Protection) offered are
the names of the fund and do not in any way indicate the quality of the plans, their future prospects and returns. Birla Sun Life Insurance Company Limited is a joint venture
between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc. headquartered at Canada. Birla Sun Life Insurance Company
Limited, 6th Floor, Vaman Centre, Makhwana Road, Andheri (E), Mumbai - 4000 059. Insurance is the subject matter of the solicitation. Investment risk in the investment
portfolio is borne by the policy holder. Reg. No. 109. ADV/04/10-11/3948

Past performance is not necessarily indicative of future performance.

25