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November, 2011

(As on October 31, 2011)

Our Investment Philosophy


As one of the leading private life insurance companies, we know that our customers trust their monies with us to attain their long-term goals and to protect and achieve the dreams and aspirations of their families. With this in mind, our investment focus is to ensure long term Safety, Stability and Profitability of our customers' funds. Our aim is to achieve superior returns for a given level of risk. In order to meet this objective, we have developed an investment framework that is based on a sound investment process coupled with a rigorous and sophisticated risk management strategy.

To achieve your dream goal, be regular with your investments

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Performance Summary Find your Fund

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Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom Find your Fund

Linked Pension Funds


The Investment Team Advises Glossary of Terms

How we Manage your Money

Performance Summary
As on October 31, 2011
Equity Market
Date of Inception 28-Jun-04 15-Nov-01 15-Nov-01 15-Nov-01 20-Mar-07 20-Mar-07 26-Nov-07 17-Mar-08 22-Jun-04 31-May-02 31-May-02 31-May-02 20-Mar-07 20-Mar-07 25-Feb-08 18-Mar-08
Movement of Sensex and Nifty Sensex 18,000 17,500 17,000 Nifty 5,500 5,400 5,300 5,200 5,100 5,000 4,900 4,800 4,700 4,600 4,500 4,400 3-Oct 4-Oct 5-Oct 7-Oct 10-Oct 11-Oct 12-Oct 13-Oct 14-Oct 17-Oct 18-Oct 19-Oct 20-Oct 21-Oct 24-Oct 25-Oct 26-Oct 28-Oct 31-Oct 10%

Annualised returns (Fund) Fund* 3 Year Preserver 8.21% Protector** 8.08% Balancer** 12.97% Maximiser 19.91% Flexi Growth 20.16% Flexi Balanced 13.94% Multiplier 20.58% R.I.C.H. Fund 19.28% Pension Preserver 8.03% Pension Protector 7.69% Pension Balancer 10.88% Pension Maximiser 19.88% Pension Flexi Growth 21.69% Pension Flexi Balanced 13.65% Pension Multiplier Fund 16.42% Pension R.I.C.H. Fund 20.15% 5 Year 8.52% 7.39% 8.51% 8.30% NA NA NA NA 8.42% 7.31% 7.25% 8.16% NA NA NA NA Since Inception 7.72% 6.81% 12.48% 20.85% 7.99% 6.80% -0.15% 6.72% 7.56% 6.93% 12.64% 21.98% 7.89% 7.80% -0.25% 6.94%

Annualized Returns (Benchmark) 3 Year 6.17% 7.00% 13.17% 22.90% 23.73% 16.76% 22.67% 23.45% 6.17% 7.00% 13.17% 22.90% 23.73% 16.76% 22.67% 23.45% 5 Year 6.72% 5.99% 7.32% 6.85% NA NA NA NA 6.72% 5.99% 7.32% 6.85% NA NA NA NA Since Inception 6.16% 5.82% 10.63% 17.92% 7.16% 7.91% -1.85% 4.49% 6.16% 5.88% 11.21% 19.13% 7.16% 7.91% 0.65% 4.57%

5 Year Sharpe Ratio Fund -0.23 -0.28 0.04 0.13 NA NA NA NA -0.33 -0.33 -0.08 0.12 NA NA NA NA Benchmark -2.78 -0.75 -0.05 0.11 NA NA NA NA -2.78 -0.75 -0.05 0.11 NA NA NA NA

Debt Market
Yield Curve 29-Sep 31-Oct

16,500 16,000 15,500 15,000 14,500

9%

8%

7%

6m

1y

2y

3y

4y Maturity

5y

6y

7y

10y

30y

*Fund details including Segregated Fund Identification Number (SFIN) provided on subsequent pages **From the date of inception of the benchmark (2-April-2002)

Equity: NIFTY rallied ~8% for the month of October on the back of Europes comprehensive rescue plan. The net FII flows for the month stood at a + $0.50bn after being sellers for two months. Domestic institutions were sellers to the tune of $.53bn, after being buyers for the last two months. Economic data on the domestic front continued to be disappointing. Inflation rate continued to be high at 9.72% yoy for the month of September, while IP growth for the month of August came in at 4.1%. In its October monetary policy, RBI further increased policy rates by 25 basis points and it also guided the future rate hikes were unlikely. The quarterly results reported in the month of October were mixed as some companies reported ahead of expectations, while others missed. Gainers for the month included autos, IT and metal stocks. Outlook: We maintain our neutral view on the markets. With the European debt crisis far from being resolved and concerns on global growth lingering, the markets are likely to witness fair amount of volatility. On the domestic front, while RBI has indicated a lower probability of further rate hikes, strength in crude and food prices is likely to keep inflation rate high. Thus, the possibility of interest rates coming down in a hurry is low. Upcoming results as well as stock specific factors will be the key drivers of performance in the coming weeks. Sensex valuations 15x FY12E0, which are higher than historical mean is likely to limit the upside. We continue to believe that Indias long term growth story remains intact and offers great investment opportunities.

KEY INDICATORS
Economic Indicators Rs/$ F/X Reserve($ bln) Oil Gold (Rs./10 gm) FII Fund flow (INR mn) MF Fund flow (INR mn) DII Fund flow (INR mn) DII - MF fund flow Oct 31, 2011 48.70 318.358 93.19 27,201 24,691 -3,617 -22,953 -19,336 Oct 2011 9.72% Sep 30, 2011 48.97 312.707 82.34 25,951 -11,468 -7,771 17,471 25,242 Change -0.56% 1.81% 13.18% 4.82% 36,159 4,154 -40,423 -44,577 Equity Indices BSE SENSEX S&P CNX NIFTY (50) INDIA BSE MIDCAP CNX MIDCAP INDEX Oct 31, 2011 17,705 5,327 6,298 7,267 Oct 31, 2011 11,955 19,865 5,544 8,988 Oct 31, 2011 8.58% 8.84% 9.66% 8.88% 9.74% Sep 30, 2011 16,454 4,943 6,130 7,094 Sep 30, 2011 10,913 17,592 5,128 8,700 Sep 30, 2011 8.32% 8.32% 9.51% 8.42% 9.56% % Change 7.6 7.8 2.7 2.4

Fixed Income: In the monetary policy meeting held in October, RBI hiked Repo rate by 0.25% to 8.50%, which was in line with market expectations. CRR remains unchanged at 6% and Reverse Repo rate and Marginal Standing Facility (MSF) rate stand automatically adjusted to 7.50% and 9.50% respectively. The accompanying statement came as a relief for the bond market as RBI said that likelihood of a rate action in December mid quarter review was relatively low. RBI also added that if the inflation trajectory headed downwards, further rate hikes may not be warranted. RBI projected inflation to start falling by December 2011 and reach 7% by March 2012. RBI acknowledged the downside risks to domestic growth given the uncertain global environment and hence downwardly revised the GDP for the current fiscal year to 7.6% from a previous 8%. What may be construed as a landmark in policy change, RBI deregulated the savings rate of banks. This is expected the increase the cost of borrowings of banks. The IIP figure for the month of August was noted at 4.1%. WPI inflation for the month of September was noted at 9.72%. The Indian Rupee appreciated to 48.70 against the dollar as on 31 October 2011. Outlook: We remain neutral on the bond market. We believe that inflation has already peaked and that going forward, inflation should sequentially head southwards. Correction in global commodity prices together with weaker domestic growth should further support the bond market. We expect RBI to announce Open Market Operation (OMO) around mid-December 2011. All these factors are expected to support the bond market. Concerns on fiscal slippage and continued supply of government bonds will keep the upward pressure on yields. Global developments will continue to play a major role in shaping the yield movements. We expect Indian rupee to remain range bound against the dollar.

Global Indices Dow jones industrials Hang seng Ftse 100 Nikkei 225 stock average Fixed Income Yields NSE Mibor 5 year G-Sec 5 year AAA 10 year G-Sec 10 year AAA

% Change 9.5 12.9 8.1 3.3

Monthly Inflation (WPI)

Sep 2011 9.78%

5 year CAGR 8.16% Benchmark Returns BSE 100 CRISIL

GDP Growth Rate FY 2010 8.00% 1yr -13.56 5.84%

FY 2011 8.50% 3yr 5yr 6.85 5.99%

% Change 0.26% 0.52% 0.15% 0.46% 0.18%

22.90 7.00%

Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Balancer
As on October 31, 2011
FUND OBJECTIVE To provide a balance between long-term capital appreciation and current income through investment in equity as well as fixed income instruments in appropriate proportions depending on market conditions prevalent from time to time.

Dynamic P/E

DATE OF INCEPTION: Nov 15, 2001

PORTFOLIO
AUM (Rs. Million): 18,764.04

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
40 100

Min (%)
0 60

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
33.89% 55.91% 10.20% 100.00%

RISK PROFILE Expected return BENCHMARK 35% BSE 100&65% CRISIL Composite Bond Index

Top 5 Sectors In Equity


BANK METALS & MINERALS OIL & GAS TECHNOLOGY AUTO

Allocation as a % in Equity
16.19% 16.09% 13.99% 10.95% 10.60%

PERFORMANCE SUMMARY Risk


FUND Balancer Fund Balancer Fund II Balancer Fund III Balancer Fund IV SFIN NAV*** Rs. ULIF 002 22/10/01 LBalancer1 105 34.6 ULIF 014 17/05/04 LBalancer2 105 23.7 ULIF 023 13/03/06 LBalancer3 105 16 ULIF 039 27/08/07 LBalancer4 105 14.28

Top 10 Equity Stocks


RELIANCE INDUSTRIES LTD. H D F C BANK LTD. INFOSYS TECHNOLOGIES LTD. BHARTI AIRTEL LTD. I T C LTD. MAHINDRA & MAHINDRA LTD. TATA STEEL LTD. STATE BANK OF INDIA STERLITE INDUSTRIES (INDIA) LTD. JINDAL STEEL & POWER LTD.

Allocation as a % in Equity
10.52% 8.68% 8.45% 8.01% 6.63% 6.31% 5.44% 5.01% 4.49% 3.60%

ANNUALIZED RETURNS
14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 3 Year 5 Year Since inception*

NAV GROWTH
36.00 34.00 32.00 30.00 28.00 26.00 24.00 22.00 20.00 18.00 16.00 14.00 12.00 10.00 Apr-02 Aug-04 Jan-07 Jun-09 Oct-11

Debt Asset Allocation


GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Allocation in Fund
10.80% 29.27% 19.63% 3.09% 6.55% 0.10% 0.10% 0.00% 15.73%

Balancer

Benchmark

Balancer

Benchmark

Average Maturity of Debt Portfolio (Months)

41.49

Average Maturity of Debt Benchmark (Months)


Yield to Maturity of Debt Portfolio

44.43
9.83%

* calculated with effect from 2-Apr-02, as benchmark did not exist before this date

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Protector
As on October 31, 2011
FUND OBJECTIVE To provide accumulation of income through investment in various fixed income securities. The fund seeks to provide capital appreciation while maintaining a suitable balance between return, safety and liquidity.

Dynamic P/E

DATE OF INCEPTION: Nov 15, 2001

PORTFOLIO
AUM (Rs. Million): 15,969.89

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
0 100

Min (%)
0 100

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
17.81% 42.98% 30.83% 4.67% 7.47% 1.69% 1.69% 0.00% 24.15% 13.37% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Composite Bond Index

PERFORMANCE SUMMARY Risk


FUND Protector Fund Protector Fund II Protector Fund III Protector Fund IV SFIN ULIF 003 22/10/01 LProtect1 105 ULIF 016 17/05/04 LProtect2 105 ULIF 024 13/03/06 LProtect3 105 ULIF 041 27/08/07 LProtect4 105 NAV*** Rs. 21.0246 16.2712 14.8354 13.9684

Portfolio By Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
36.09% 37.82% 1.77% 22.43% 1.88% 100.00%

ANNUALIZED RETURNS
9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 3 Year 5 Year Since inception*

NAV GROWTH
22.00 21.00 20.00 19.00 18.00 17.00 16.00 15.00 14.00 13.00 12.00 11.00 10.00 Nov-01 Apr-03 Sep-04 Feb-06 Jul-07 Dec-08 May-10 Oct-11

Average Maturity of Debt Portfolio (Months) Average Maturity of Benchmark (Months) Yield to Maturity of Debt Portfolio

40.89 44.43 9.81%

*** Last declared NAV (31-Oct-2011)

Protector

Benchmark

Protector

Benchmark

* calculated with effect from 2-Apr-02, as benchmark did not exist before this date

For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Maximiser
As on October 31, 2011
FUND OBJECTIVE To generate long-term capital appreciation through investment primarily in equity and equity-related instruments.

Dynamic P/E

DATE OF INCEPTION: Nov 15, 2001

PORTFOLIO
AUM (Rs. Million): 74,630.54

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 25

Min (%)
75 0

Asset Allocation EQUITY DEBT AND OTHER CURRENT ASSETS & EQUIVALENT TOTAL

Allocation in Fund 90.93%

RISK PROFILE BENCHMARK BSE 100

9.07% 100.00%

Sector Allocation Expected return


BANK METALS & MINERALS OIL & GAS TECHNOLOGY AUTO CONSUMER TELECOM CEMENT FINANCE PHARMA & HEALTHCARE INFRASTRUCTURE CAPITAL GOODS EPC RETAIL OTHERS REAL ESTATE

Allocation as a % in Equity
17.33% 16.01% 11.75% 11.24% 10.70% 7.40% 6.67% 5.63% 3.64% 2.39% 2.26% 1.84% 1.16% 1.03% 0.56% 0.40%

PERFORMANCE SUMMARY Risk


FUND Maximiser Fund Maximiser Fund II Maximiser Fund III Maximiser Fund IV Maximiser Fund V SFIN NAV*** Rs. ULIF 001 22/10/01 LMaximis1 105 66 ULIF 012 17/05/04 LMaximis2 105 36.98 ULIF 022 13/03/06 LMaximis3 105 16.69 ULIF 037 27/08/07 LMaximis4 105 13.17 ULIF 114 15/03/11 LMaximis5 105 10.68

ANNUALIZED RETURNS
25.00%

NAV GROWTH
80.00 72.00

Top 20 Equity stocks


RELIANCE INDUSTRIES LTD. H D F C BANK LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. BHARTI AIRTEL LTD. MAHINDRA & MAHINDRA LTD. TATA STEEL LTD. STATE BANK OF INDIA STERLITE INDUSTRIES (INDIA) LTD. JINDAL STEEL & POWER LTD. A C C LTD. MARUTI SUZUKI INDIA LTD. TATA CONSULTANCY SERVICES LTD. SHRIRAM TRANSPORT FINANCE CO. LTD. LUPIN LTD. POWER GRID CORPN. OF INDIA LTD. GRASIM INDUSTRIES LTD. AXIS BANK LTD. BHARAT HEAVY ELECTRICALS LTD. HINDUSTAN ZINC LTD.

20.00%

Allocation as a % in Equity
9.59% 8.99% 7.88% 6.70% 6.67% 6.44% 5.67% 5.38% 5.17% 4.10% 3.30% 3.20% 2.84% 2.79% 2.39% 2.08% 1.96% 1.87% 1.23% 1.07%

64.00 56.00

15.00%

48.00 40.00 32.00

10.00%

5.00%

24.00 16.00

0.00% 3 Year 5 Year Since inception

8.00 Nov-01 Dec-02 Feb-04 Mar-05 Apr-06 May-07 Jul-08 Aug-09 Sep-10 Oct-11

Maximiser

Benchmark

Maximiser

Benchmark

*** Last declared NAV (31-Oct-2011)


For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Preserver
As on October 31, 2011
FUND OBJECTIVE To provide suitable returns through low risk investments in debt and money market instruments while attempting to protect the capital deployed in the fund.

Dynamic P/E

DATE OF INCEPTION: June 28, 2004

PORTFOLIO
AUM (Rs. Million): 3,855.03

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt instruments Money Market & Cash

Max (%)
0 50 100

Min (%)
0 0 50

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
0.00% 3.87% 3.46% 0.41% 0.00% 57.64% 57.64% 0.00% 32.72% 5.77% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Liquid Index

PERFORMANCE SUMMARY Risk


FUND SFIN Preserver Fund ULIF 010 17/05/04 LPreserv1 105 Preserver Fund III ULIF 021 13/03/06 LPreserv3 105 Preserver Fund IV ULIF 036 27/08/07 LPreserv4 105 NAV*** Rs. 17.2701 15.5075 13.9376

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
92.44% 7.56% 0.00% 0.00% 0.00% 100.00%

ANNUALIZED RETURNS
10.00%

NAV GROWTH
18.00 17.00

8.00%
16.00 15.00 14.00

Average Maturity of Debt Portfolio (Months) 4.62 Average Maturity of Debt Benchmark (Months) 2.23 Yield to Maturity of Debt Portfolio 9.73%

6.00%

*** Last declared NAV (31-Oct-2011)

4.00%

13.00 12.00

2.00%
11.00

0.00% 3 Year 5 Year Since inception

10.00 Jun-04 Mar-05 Jan-06 Nov-06 Sep-07 Jul-08 May-09 Mar-10 Dec-10 Oct-11

Preserver

Benchmark

Preserver

Benchmark

For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Multiplier
As on October 31, 2011
FUND OBJECTIVE To provide long-term capital appreciation from equity portfolio predominantly invested in NIFTY scrips.

Dynamic P/E

DATE OF INCEPTION: Nov 26, 2007

PORTFOLIO
AUM (Rs. Million): 19,625.28

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
94.12% 5.88% 100.00%

RISK PROFILE Expected return BENCHMARK S&P CNX Nifty

Sector Allocation
BANK OIL & GAS TECHNOLOGY AUTO METALS & MINERALS CONSUMER INFRASTRUCTURE TELECOM CEMENT OTHERS FINANCE MEDIA PHARMA & HEALTHCARE EPC CAPITAL GOODS

Allocation as a % in Equity
19.14% 18.90% 12.40% 9.85% 8.58% 7.97% 6.48% 4.46% 3.33% 2.38% 2.01% 1.57% 1.38% 1.01% 0.54%

PERFORMANCE SUMMARY Risk


FUND Multiplier Fund Multiplier Fund II Multiplier Fund III Multiplier Fund IV SFIN ULIF 042 22/11/07 LMultip1 105 ULIF 044 25/02/08 LMultip2 105 ULIF 046 25/02/08 LMultip3 105 ULIF 047 25/02/08 LMultip4 105 NAV*** Rs. 9.94 11.29 10.95 11.26

ANNUALIZED RETURNS
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% -5.00% -10.00% -15.00% 1 Year 3 Year Since inception
-0.15

NAV GROWTH
12.00 11.00 10.00 9.00 8.00 7.00 6.00 5.00 4.00 Nov-07 Sep-08 Jun-09 Apr-10 Jan-11 Oct-11

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. MAHINDRA & MAHINDRA LTD. H D F C BANK LTD. I T C LTD. RELIANCE INDUSTRIES LTD. OIL & NATURAL GAS CORPN. LTD. BHARTI AIRTEL LTD. AXIS BANK LTD. STATE BANK OF INDIA GRASIM INDUSTRIES LTD. N T P C LTD. GAIL (INDIA) LTD. POWER GRID CORPN. OF INDIA LTD. TATA CONSULTANCY SERVICES LTD. STERLITE INDUSTRIES (INDIA) LTD. JINDAL STEEL & POWER LTD. ASHOK LEYLAND LTD. BHARAT PETROLEUM CORPN. LTD. JAGRAN PRAKASHAN LTD. SHRIRAM TRANSPORT FINANCE CO. LTD.

Allocation as a % in Equity
9.83% 7.81% 7.70% 7.15% 7.03% 4.85% 4.46% 4.16% 3.52% 2.87% 2.86% 2.79% 2.60% 2.57% 1.88% 1.81% 1.72% 1.63% 1.57% 1.55%

Multiplier

Benchmark

Multiplier

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

RICH
As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of companies operating in four important types of industries, viz., Resources, Investment-related, Consumption-related and Human Capital leveraged industries.

Dynamic P/E

DATE OF INCEPTION: Mar 17, 2008

PORTFOLIO
AUM (Rs. Million): 28,903.70

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
96.90% 3.10% 100.00%

RISK PROFILE Expected return BENCHMARK BSE 100

Sector Allocation
BANK OIL & GAS TECHNOLOGY CONSUMER AUTO TELECOM METALS & MINERALS INFRASTRUCTURE PHARMA & HEALTHCARE FINANCE CAPITAL GOODS CEMENT EPC OTHERS RETAIL REAL ESTATE MEDIA

Allocation as a % in Equity
21.73% 15.78% 9.99% 7.72% 7.27% 5.96% 5.63% 5.61% 5.10% 4.18% 3.25% 2.55% 2.21% 1.45% 0.74% 0.51% 0.31%

PERFORMANCE SUMMARY Risk


FUND R.I.C.H. Fund R.I.C.H. Fund II R.I.C.H. Fund III R.I.C.H. Fund IV SFIN ULIF 048 17/03/08 LRICH1 105 ULIF 049 17/03/08 LRICH2 105 ULIF 050 17/03/08 LRICH3 105 ULIF 051 17/03/08 LRICH4 105 NAV*** Rs. 12.66 13.05 12.68 13.04

ANNUALIZED RETURNS
30.00%

NAV GROWTH
16.00 15.00

20.00%

14.00 13.00

Top 20 Equity Stocks


RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. BHARTI AIRTEL LTD. AXIS BANK LTD. PUNJAB NATIONAL BANK MAHINDRA & MAHINDRA LTD. H D F C BANK LTD. BANK OF BARODA OIL & NATURAL GAS CORPN. LTD. N T P C LTD. TATA MOTORS LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD TATA CONSULTANCY SERVICES LTD. DR. REDDY'S LABORATORIES LTD. GAIL (INDIA) LTD. BHARAT HEAVY ELECTRICALS LTD. TATA POWER CO. LTD. TATA STEEL LTD. BHARAT PETROLEUM CORPN. LTD.

Allocation as a % in Equity
7.73% 6.96% 6.86% 5.32% 4.41% 3.61% 3.15% 3.11% 3.10% 3.06% 2.31% 2.15% 2.05% 1.90% 1.80% 1.80% 1.73% 1.73% 1.68% 1.65%

10.00%

12.00 11.00 10.00

0.00%

9.00 8.00

-10.00%

7.00 6.00

-20.00% 1 Year 3 Year Since inception

5.00 Mar-08 Jul-08 Dec-08 Apr-09 Aug-09 Jan-10 May-10 Sep-10 Feb-11 Jun-11 Oct-11

RICH

Benchmark

RICH

Benchmark

*** Last declared NAV (31-Oct-2011)


For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Flexi Balanced
As on October 31, 2011
FUND OBJECTIVE To achieve a balance between capital appreciation and stable returns by investing in a mix of equity and equity related instruments of large, mid and small cap companies and debt and debt related instruments.

Dynamic P/E

DATE OF INCEPTION: Mar 20, 2007

PORTFOLIO
AUM (Rs. Million): 2,496.03

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
60 100

Min (%)
0 40

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
53.32% 39.05% 7.63% 100.00%

RISK PROFILE Expected return BENCHMARK 55% CNX 500 & 45% CRISIL Composite Bond Index

Top 5 SectorsIn Equity


BANK OIL & GAS METALS & MINERALS TECHNOLOGY CONSUMER

Allocation as a % in Equity
20.89% 12.67% 11.07% 10.47% 9.80%

PERFORMANCE SUMMARY Risk


FUND Flexi Balanced Fund Flexi Balanced Fund II Flexi Balanced Fund III Flexi Balanced Fund IV SFIN NAV*** Rs. ULIF 031 20/03/07 LFlexiBal1 105 13.55 ULIF 032 20/03/07 LFlexiBal2 105 14.51 ULIF 033 20/03/07 LFlexiBal3 105 13.42 ULIF 040 27/08/07 LFlexiBal4 105 12.85

Top 10 Equity Stocks


RELIANCE INDUSTRIES LTD. I T C LTD. INFOSYS TECHNOLOGIES LTD. BHARTI AIRTEL LTD. BANK OF BARODA TATA CONSULTANCY SERVICES LTD. TATA STEEL LTD. STATE BANK OF INDIA AXIS BANK LTD. PUNJAB NATIONAL BANK

Allocation as a % in Equity
6.47% 6.10% 5.43% 4.38% 4.09% 3.70% 3.36% 3.27% 3.26% 2.95%

ANNUALIZED RETURNS
20.00% 15.00% 10.00%

NAV GROWTH
16.00 15.00 14.00 13.00 12.00 11.00

Debt Asset Allocation


GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Allocation in Fund
7.73% 18.99% 12.79% 1.98% 4.22% 0.07% 0.07% 0.00% 12.26%

5.00% 0.00%

10.00

-5.00% -10.00% 1 Year 3 Year Since inception

9.00 8.00 Mar-07 Dec-07 Oct-08 Jul-09 Apr-10 Jan-11 Oct-11

Flexi Balanced

Benchmark

Flexi Balanced

Benchmark

Average Maturity of Debt Portfolio (Months) Average Maturity of Debt Benchmark (Months) Yield to Maturity of Debt Portfolio

43.76 44.43 9.83%

*** Last declared NAV (31-Oct-2011)


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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Flexi Growth
As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of large, mid and small cap companies.

Dynamic P/E

DATE OF INCEPTION: Mar 20, 2007

PORTFOLIO
AUM (Rs. Million): 58,252.63

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
91.36% 8.64% 100.00%

RISK PROFILE Expected return BENCHMARK S&P CNX 500

Sector Allocation
BANK OIL & GAS TECHNOLOGY CONSUMER INFRASTRUCTURE AUTO METALS & MINERALS TELECOM PHARMA & HEALTHCARE CEMENT FINANCE OTHERS CAPITAL GOODS EPC MEDIA

Allocation as a % in Equity
18.07% 16.00% 11.70% 9.33% 8.36% 7.84% 7.32% 4.28% 4.11% 3.72% 2.95% 2.65% 2.50% 0.87% 0.30%

PERFORMANCE SUMMARY Risk


FUND Flexi Growth Fund Flexi Growth Fund II Flexi Growth Fund III Flexi Growth Fund IV SFIN NAV*** Rs. ULIF 026 20/03/07 LFlexiGro1 105 14.26 ULIF 027 20/03/07 LFlexiGro2 105 14.75 ULIF 028 20/03/07 LFlexiGro3 105 14.21 ULIF 038 27/08/07 LFlexiGro4 105 12.62

ANNUALIZED RETURNS
30.00%

NAV GROWTH
19.00 18.00

Top 20 Equity Stocks


H D F C BANK LTD. INFOSYS TECHNOLOGIES LTD. MAHINDRA & MAHINDRA LTD. OIL & NATURAL GAS CORPN. LTD. AXIS BANK LTD. I T C LTD. N T P C LTD. RELIANCE INDUSTRIES LTD. BHARTI AIRTEL LTD. LUPIN LTD. GRASIM INDUSTRIES LTD. KANSAI NEROLAC PAINTS LTD. GAIL (INDIA) LTD. POWER GRID CORPN. OF INDIA LTD. BANK OF BARODA STATE BANK OF INDIA BHARAT PETROLEUM CORPN. LTD. TATA CHEMICALS LTD. TATA CONSULTANCY SERVICES LTD. STERLITE INDUSTRIES (INDIA) LTD.

Allocation as a % in Equity
7.26% 6.69% 6.47% 4.99% 4.77% 4.49% 3.80% 3.62% 3.56% 3.10% 2.75% 2.70% 2.64% 2.44% 2.10% 2.06% 1.65% 1.62% 1.55% 1.49%

20.00%

17.00 16.00 15.00

10.00%

14.00 13.00 12.00

0.00%

11.00 10.00

-10.00%

9.00 8.00 7.00

-20.00% 1 Year 3 Year Since inception

6.00 Mar-07 Dec-07 Oct-08 Jul-09 Apr-10 Jan-11 Oct-11

Flexi Growth

Benchmark

Flexi Growth

Benchmark

*** Last declared NAV (31-Oct-2011)

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Bluechip
As on October 31, 2011
FUND OBJECTIVE To provide long-term capital appreciation from equity portfolio predominantly invested in large cap stocks.

Dynamic P/E

DATE OF INCEPTION: Nov 24, 2009

PORTFOLIO
AUM (Rs. Million): 787.81

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
97.30% 2.70% 100.00%

RISK PROFILE Expected return BENCHMARK Nifty

Sector Allocation
BANK TECHNOLOGY OIL & GAS FINANCE CONSUMER METALS & MINERALS TELECOM EPC AUTO CEMENT RETAIL INFRASTRUCTURE OTHERS PHARMA & HEALTHCARE CAPITAL GOODS

Allocation as a % in Equity
23.76% 15.97% 12.18% 9.27% 8.86% 7.95% 5.48% 4.57% 4.12% 4.07% 1.19% 1.09% 1.09% 0.41% 0.00%

PERFORMANCE SUMMARY Risk


FUND Blue Chip Fund SFIN ULIF 087 24/11/09 LBluChip 105 NAV*** Rs. 10.14

ANNUALIZED RETURNS
5.00%

NAV GROWTH
13.00

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. I T C LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD INDUSIND BANK LTD. BHARTI AIRTEL LTD. LARSEN & TOUBRO LTD. TATA CONSULTANCY SERVICES LTD. BANK OF BARODA AXIS BANK LTD. PUNJAB NATIONAL BANK ALLAHABAD BANK H D F C BANK LTD. TATA STEEL LTD. JINDAL STEEL & POWER LTD. TATA MOTORS LTD. A C C LTD. POWER FINANCE CORPN. LTD. GAIL (INDIA) LTD. HINDALCO INDUSTRIES LTD.

Allocation as a % in Equity
9.26% 9.21% 8.86% 5.75% 4.85% 4.75% 4.57% 4.54% 4.38% 4.00% 3.77% 3.12% 2.82% 2.80% 2.32% 2.20% 2.08% 2.07% 1.63% 1.60%

0.72% 0.00%
12.00

-5.00%

11.00

-10.00%

10.00

-15.00% 1 Year Since inception

9.00 Nov-09 May-10 Nov-10 May-11 Oct-11

Bluechip

Benchmark

Bluechip

Benchmark

*** Last declared NAV (31-Oct-2011)

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Income
As on October 31, 2011
FUND OBJECTIVE To provide accumulation of income through investment in various fixed income securities. The Fund seeks to provide capital appreciation while maintaining a suitable balance between return, safety and liquidity.

Dynamic P/E

DATE OF INCEPTION: Nov 24, 2009

PORTFOLIO
AUM (Rs. Million): 2,301.86

ASSET ALLOCATION
Indicative Portfolio Allocation
Debt Instruments, Money Market & Cash

Max (%)
100

Min (%)
100

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
13.86% 35.50% 24.12% 2.35% 9.03% 16.55% 16.55% 0.00% 14.10% 19.99% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Composite Bond Index

PERFORMANCE SUMMARY Risk


FUND Income Fund SFIN ULIF 089 24/11/09 LIncome 105 NAV*** Rs. 11.3353

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
48.70% 30.62% 1.43% 17.85% 1.40% 100.00%

ANNUALIZED RETURNS
8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 1 Year Since inception

NAV GROWTH
11.50 11.25 11.00 10.75 10.50 10.25 10.00 9.75 9.50 Nov-09 May-10 Nov-10 May-11 Oct-11

Average Maturity of Debt Portfolio (Months) Yield to Maturity of Debt Portfolio

34.30 9.74%

*** Last declared NAV (31-Oct-2011)

Income

Benchmark

Income

Benchmark

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Money Market
As on October 31, 2011
FUND OBJECTIVE To provide suitable returns through low risk investments in debt and money market instruments while attempting to protect the capital deployed in the Fund.

Dynamic P/E

DATE OF INCEPTION: Nov 24, 2009

PORTFOLIO
AUM (Rs. Million): 916.43

ASSET ALLOCATION
Indicative Portfolio Allocation
Debt Instruments Money Market & Cash

Max (%)
50 100

Min (%)
0 50

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
0.00% 3.25% 3.25% 0.00% 0.00% 59.87% 59.87% 0.00% 29.66% 7.22% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Liquid Index

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Money Market Fund ULIF 090 24/11/09 LMoneyMkt 105 11.3996

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
92.54% 7.46% 0.00% 0.00% 0.00% 100.00%

ANNUALIZED RETURNS
10.00%

NAV GROWTH
11.50

8.00%

11.25

Average Maturity of Debt Portfolio (Months) 4.61 Average Maturity Of Debt Benchmark (months) 2.23 Yield to Maturity of Debt Portfolio 9.79%

11.00

6.00%
10.75

*** Last declared NAV (31-Oct-2011)

4.00%
10.50

2.00%

10.25

0.00% 1 Year Since inception

10.00 Nov-09 Jul-10 Mar-11 Oct-11

Money Market

Benchmark

Money Market

Benchmark

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Opportunity
As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of companies operating in four important types of industries viz., Resources, Investment-related, Consumption-related and Human Capital leveraged industries.

Dynamic P/E

DATE OF INCEPTION: Nov 24, 2009

PORTFOLIO
AUM (Rs. Million): 1,723.55

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Asset Allocation
Max (%)
100 20

Min (%)
80 0

Allocation in Fund
82.44% 17.56% 100.00%

EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

RISK PROFILE Expected return BENCHMARK BSE 200

Sector Allocation
BANK OIL & GAS TECHNOLOGY METALS & MINERALS CONSUMER FINANCE INFRASTRUCTURE AUTO TELECOM EPC OTHERS CEMENT CAPITAL GOODS MEDIA PHARMA & HEALTHCARE REAL ESTATE RETAIL

Allocation as a % in Equity
14.24% 13.77% 13.02% 10.78% 10.00% 5.60% 5.30% 4.98% 4.65% 4.21% 3.81% 3.49% 2.51% 1.46% 1.12% 1.00% 0.05%

PERFORMANCE SUMMARY Risk


FUND Opportunity Fund SFIN NAV*** Rs. ULIF 086 24/11/09 LOpport 105 10.6

ANNUALIZED RETURNS
5.00%

NAV GROWTH
13.00

0.00%
12.00

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. I T C LTD. H D F C BANK LTD. RELIANCE INDUSTRIES LTD. BHARTI AIRTEL LTD. TATA STEEL LTD. TATA CONSULTANCY SERVICES LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD BANK OF BARODA CAIRN INDIA LTD. AXIS BANK LTD. OIL & NATURAL GAS CORPN. LTD. MAHINDRA & MAHINDRA LTD. A C C LTD. STATE BANK OF INDIA STERLITE INDUSTRIES (INDIA) LTD. GAIL (INDIA) LTD. GRASIM INDUSTRIES LTD. JINDAL STEEL & POWER LTD. BHARAT HEAVY ELECTRICALS LTD.

Allocation as a % in Equity
8.92% 8.73% 6.52% 5.62% 4.38% 4.36% 4.11% 3.85% 2.74% 2.58% 2.39% 2.28% 1.97% 1.93% 1.88% 1.75% 1.59% 1.56% 1.52% 1.47%

-5.00%
11.00

-10.00%
10.00

-15.00%

-20.00% 1 Year Since inception

9.00 Nov-09 Jul-10 Mar-11 Oct-11

Opportunity

Benchmark

Opportunity

Benchmark

*** Last declared NAV (31-Oct-2011)


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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Dynamic P/E
As on October 31, 2011
FUND OBJECTIVE To provide long term capital appreciation through dynamic asset allocation between equity and debt. The allocation in equity and equity related securities is determined by reference to the P/E multiple of a basket of 50 large cap stocks1; the remainder is to be invested in debt instruments, money market and cash.
1

Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 10,786.65

ASSET ALLOCATION
Indicative Portfolio Allocation
Debt Instruments and Derivaties Equity and Equity related securities

Max (%)
100 100

Min (%)
0% 0%

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
93.77% 3.31% 2.92% 100.00%

Source: Based on prices and consensus earnings estimates from Bloomberg.

RISK PROFILE Expected return BENCHMARK NIFTY- 75% MIBEX - 25%

Top 5 SectorsIn Equity


BANK TECHNOLOGY OIL & GAS CONSUMER AUTO

Allocation as a % in Equity
18.11% 14.47% 13.83% 9.06% 8.54%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Dynamic P/E Fund ULIF 097 11/01/10 LDynmicPE 105 10.78

Top 10 Equity Stocks


INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. H D F C BANK LTD. I T C LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD LARSEN & TOUBRO LTD. STATE BANK OF INDIA TATA CONSULTANCY SERVICES LTD. BHARTI AIRTEL LTD. AXIS BANK LTD.

Allocation as a % in Equity
9.01% 8.91% 7.65% 6.75% 6.18% 4.70% 4.69% 3.50% 2.86% 2.76%

ANNUALIZED RETURNS
6.00% 4.00% 2.00% 0.00%

NAV GROWTH
12.50 12.00 11.50

Debt Asset Allocation


11.00

Allocation in Fund
3.29% 0.01% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%

-2.00%
10.50

-4.00% -6.00% -8.00% -10.00% 1 Year Since inception


10.00 9.50 9.00 Jan-10 May-10 Sep-10 Feb-11 Jun-11 Oct-11

GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Dynamic P/E

Benchmark

Dynamic P/E

Benchmark

Average Maturity Of Debt Portfolio (months) Yield To Maturity Of Debt Portfolio *** Last declared NAV (31-Oct-2011)

71.40 8.87%

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Multi Cap Balanced


As on October 31, 2011
FUND OBJECTIVE To achieve a balance between capital appreciation and stable returns by investing in a mix of equity and equity related instruments of large, mid and small cap companies and debt and debt related instruments.

Dynamic P/E

DATE OF INCEPTION: Nov 24, 2009

PORTFOLIO
AUM (Rs. Million): 709.72

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & Equity Related Securities Debt, Money Market & Cash

Max (%)
60 100

Min (%)
0 40

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
52.99% 30.66% 16.35% 100.00%

RISK PROFILE Expected return BENCHMARK CNX 500 - 55% CRISIL - 45%

Top 5 SectorsIn Equity


BANK OIL & GAS METALS & MINERALS TECHNOLOGY CONSUMER

Allocation as a % in Equity
20.40% 10.75% 9.69% 9.37% 8.11%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Multi Cap Balanced Fund ULIF 088 24/11/09 LMCapBal 105 10.5

Top 10 Equity Stocks


I T C LTD. RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. BHARTI AIRTEL LTD. AXIS BANK LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD STATE BANK OF INDIA BANK OF BARODA TATA STEEL LTD. TATA CONSULTANCY SERVICES LTD.

Allocation as a % in Equity
6.18% 5.81% 5.67% 4.52% 3.49% 3.14% 3.12% 3.11% 3.06% 2.89%

ANNUALIZED RETURNS
4.00%

NAV GROWTH
12.00

2.00%

11.50

Debt Asset Allocation


0.00%
11.00

Allocation in Fund
7.28% 8.76% 6.47% 0.84% 1.45% 6.98% 6.98% 0.00% 7.65%

-2.00%

10.50

-4.00%

10.00

-6.00% 1 Year Since inception

9.50 Nov-09 Nov-10 Oct-11

GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Multi Cap Balanced

Benchmark

Multi Cap Balanced

Benchmark

Average Maturity Of Debt Portfolio (months) 42.67 Average Maturity Of Debt Benchmark (months) 44.43 Yield To Maturity Of Debt Portfolio 9.67% *** Last declared NAV (31-Oct-2011)

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Multi Cap Growth


As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of large, mid and small cap companies.

Dynamic P/E

DATE OF INCEPTION: Nov 24, 2009

PORTFOLIO
AUM (Rs. Million): 6,528.70

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
82.31% 17.69% 100.00%

RISK PROFILE Expected return BENCHMARK CNX 500

Sector Allocation
BANK OIL & GAS TECHNOLOGY METALS & MINERALS AUTO INFRASTRUCTURE CONSUMER TELECOM OTHERS CEMENT PHARMA & HEALTHCARE FINANCE CAPITAL GOODS EPC REAL ESTATE MEDIA

Allocation as a % in Equity
20.13% 18.61% 10.88% 8.71% 6.79% 6.33% 5.99% 4.34% 4.32% 4.25% 3.42% 3.10% 1.71% 0.84% 0.46% 0.13%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Multi Cap Growth Fund ULIF 085 24/11/09 LMCapGro 105 10.82

ANNUALIZED RETURNS
5.00% 0.46% 0.00%

NAV GROWTH
13.00 12.50 12.00 11.50 11.00

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. H D F C BANK LTD. OIL & NATURAL GAS CORPN. LTD. I T C LTD. MAHINDRA & MAHINDRA LTD. BHARTI AIRTEL LTD. GRASIM INDUSTRIES LTD. AXIS BANK LTD. RELIANCE INDUSTRIES LTD. GAIL (INDIA) LTD. STATE BANK OF INDIA N T P C LTD. TATA CHEMICALS LTD. TATA CONSULTANCY SERVICES LTD. TATA STEEL LTD. INDUSIND BANK LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD JINDAL STEEL & POWER LTD. COAL INDIA LTD. CAIRN INDIA LTD.

Allocation as a % in Equity
7.41% 5.12% 5.04% 4.54% 4.52% 4.34% 4.25% 4.23% 3.93% 3.67% 3.05% 3.04% 2.53% 2.48% 2.35% 2.27% 2.24% 2.17% 2.16% 2.02%

-5.00%

-10.00%

10.50 10.00

-15.00%
9.50

-20.00% 1 Year Since inception

9.00 Nov-09 Nov-10 Oct-11

Multi Cap Growth

Benchmark

Multi Cap Growth

Benchmark

*** Last declared NAV (31-Oct-2011)


For full portfolio details please

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Linked Life Funds


Balancer Multiplier Bluechip Protector RICH Income Multi Cap Balanced

Linked Pension Funds


Maximiser Flexi Balanced Money Market Multi Cap Growth Preserver Flexi Growth Opportunity Pinnacle

Pinnacle
As on October 31, 2011
FUND OBJECTIVE To generate optimal returns through an actively managed equity portfolio while using debt instruments to manage the guarantee. The fund would use equity and fixed income derivatives as permitted by IRDA from time to time.

Dynamic P/E

DATE OF INCEPTION: Oct 26, 2009

PORTFOLIO
AUM (Rs. Million): 7,045.81

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity and Equity Related Securities Debt Instruments and derivatives

Max (%)
100 100

Min (%)
0 0

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
61.34% 36.88% 1.78% 100.00%

RISK PROFILE Expected return BENCHMARK -

Top 5 SectorsIn Equity


BANK TECHNOLOGY OIL & GAS CONSUMER AUTO

Allocation as a % in Equity
18.73% 14.07% 13.50% 9.72% 8.35%

PERFORMANCE SUMMARY Risk


FUND Pinnacle Fund SFIN NAV*** Rs. ULIF 081 26/10/09 LPinnacle 105 10.77

Top 10 Equity Stocks


INFOSYS TECHNOLOGIES LTD. H D F C BANK LTD. RELIANCE INDUSTRIES LTD. I T C LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD STATE BANK OF INDIA LARSEN & TOUBRO LTD. TATA CONSULTANCY SERVICES LTD. BHARTI AIRTEL LTD. AXIS BANK LTD.

Allocation as a % in Equity
8.72% 8.56% 8.53% 7.18% 5.79% 4.76% 4.75% 3.52% 3.03% 2.86%

ANNUALIZED RETURNS
6.00% 3.00% 0.00%

NAV GROWTH
12.50 12.00 11.50

Debt Asset Allocation


11.00

Allocation in Fund
36.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

-3.00%
10.50

-6.00% -9.00% -12.00% 1 Year Since inception

10.00 9.50 9.00 Oct-09 Feb-10 May-10 Sep-10 Dec-10 Apr-11 Jul-11 Oct-11

GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Pinnacle

Pinnacle

Average Maturity of Debt Portfolio (Months) Yield to Maturity of Debt Portfolio *** Last declared NAV (31-Oct-2011)

179.15 8.94%

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Balancer
As on October 31, 2011
FUND OBJECTIVE To provide a balance between long-term capital appreciation and current income through investment in equity as well as fixed income instruments in appropriate proportions depending on market conditions prevalent from time to time.

Pension Dynamic P/E

DATE OF INCEPTION: May 31, 2002

PORTFOLIO
AUM (Rs. Million): 14,397.37

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
40 100

Min (%)
0 60

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
37.05% 54.89% 8.06% 100.00%

RISK PROFILE Expected return BENCHMARK 35% BSE 100 & 65% CRISIL Composite Bond Index

Top 5 Sectors in Equity


BANK TECHNOLOGY OIL & GAS FINANCE METALS & MINERALS

Allocation as a % in Equity
26.60% 14.31% 12.54% 10.31% 9.31%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Balancer Fund ULIF 005 03/05/02 PBalancer1 105 30.71 Pension Balancer Fund II ULIF 015 17/05/04 PBalancer2 105 23

Top 10 Equity Stocks


INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. I T C LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD BHARTI AIRTEL LTD. AXIS BANK LTD. INDUSIND BANK LTD. TATA CONSULTANCY SERVICES LTD. LARSEN & TOUBRO LTD. BANK OF BARODA

Allocation as a % in Equity
8.72% 8.65% 7.16% 5.61% 5.52% 5.10% 4.99% 4.95% 4.54% 4.42%

ANNUALIZED RETURNS
14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 3 Year 5 Year Since inception

NAV GROWTH
34.00 32.00 30.00 28.00 26.00 24.00 22.00 20.00 18.00 16.00 14.00 12.00 10.00 8.00 May-02 Sep-03 Feb-05 Jun-06 Oct-07 Feb-09 Jun-10 Oct-11

Debt Asset Allocation


GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Allocation in Fund
10.27% 25.79% 16.97% 1.80% 7.02% 2.65% 2.65% 0.00% 16.18%

Pension Balancer

Benchmark

Pension Balancer

Benchmark

Average Maturity of Debt Portfolio (Months) 42.91 Average Maturity of Debt Benchmark (Months) 44.43 Yield to Maturity of Debt Portfolio 9.71%

*** Last declared NAV (31-Oct-2011)


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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Protector
As on October 31, 2011
FUND OBJECTIVE To provide accumulation of income through investment in various fixed income securities. The fund seeks to provide capital appreciation while maintaining a suitable balance between return, safety and liquidity.

Pension Dynamic P/E

DATE OF INCEPTION: May 31, 2002

PORTFOLIO
AUM (Rs. Million): 21,590.19

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
0 100

Min (%)
0 100

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
15.65% 42.40% 32.01% 5.83% 4.56% 5.48% 5.48% 0.00% 23.45% 13.02% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Composite Bond Index

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Protector Fund ULIF 006 03/05/02 PProtect1 105 18.8 Pension Protector Fund II ULIF 017 17/05/04 PProtect2 105 16.1776

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
38.95% 34.29% 0.96% 25.53% 0.27% 100.00%

ANNUALIZED RETURNS
8.00% 7.00% 6.00% 5.00% 4.00%

NAV GROWTH
19.00 18.00 17.00 16.00 15.00 14.00

Average Maturity of Debt Portfolio (Months) 39.89 Average Maturity of Debt Benchmark (Months) 44.43 Yield to Maturity of Debt Portfolio 9.77%

*** Last declared NAV (31-Oct-2011)

3.00% 2.00% 1.00% 0.00% 3 Year 5 Year Since inception

13.00 12.00 11.00 10.00 May-02 Apr-04 Mar-06 Jan-08 Dec-09 Oct-11

Pension Protector

Benchmark

Pension Protector

Benchmark

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Maximiser
As on October 31, 2011
FUND OBJECTIVE To generate long-term capital appreciation through investment primarily in equity and equity-related instruments.

Pension Dynamic P/E

DATE OF INCEPTION: May 31, 2002

PORTFOLIO
AUM (Rs. Million): 28,848.30

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 25

Min (%)
75 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
90.51% 9.49% 100.00%

RISK PROFILE Sector Allocation Expected return BENCHMARK BSE 100


BANK METALS & MINERALS OIL & GAS TECHNOLOGY AUTO CONSUMER TELECOM CEMENT FINANCE INFRASTRUCTURE PHARMA & HEALTHCARE CAPITAL GOODS EPC RETAIL OTHERS REAL ESTATE

Allocation as a % in Equity
19.25% 15.25% 11.72% 10.87% 9.32% 8.04% 6.62% 5.69% 3.54% 2.43% 2.31% 2.12% 1.13% 1.04% 0.35% 0.32%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Maximiser Fund ULIF 004 03/05/02 PMaximis1 105 65.05 Pension Maximiser Fund II ULIF 013 17/05/04 PMaximis2 105 37.93

ANNUALIZED RETURNS
25.00%

NAV GROWTH
80.00 74.00

Top 20 Equity Stocks


RELIANCE INDUSTRIES LTD. H D F C BANK LTD. STATE BANK OF INDIA INFOSYS TECHNOLOGIES LTD. I T C LTD. BHARTI AIRTEL LTD. TATA STEEL LTD. MAHINDRA & MAHINDRA LTD. STERLITE INDUSTRIES (INDIA) LTD. JINDAL STEEL & POWER LTD. A C C LTD. MARUTI SUZUKI INDIA LTD. SHRIRAM TRANSPORT FINANCE CO. LTD. LUPIN LTD. POWER GRID CORPN. OF INDIA LTD. TATA CONSULTANCY SERVICES LTD. AXIS BANK LTD. GRASIM INDUSTRIES LTD. HINDUSTAN ZINC LTD. I C I INDIA LTD.

Allocation as a % in Equity
9.46% 9.32% 6.90% 6.83% 6.74% 6.62% 5.65% 5.34% 4.22% 3.78% 3.22% 2.78% 2.65% 2.06% 2.00% 1.86% 1.66% 1.64% 1.31% 1.30%

20.00%

68.00 62.00 56.00

15.00%

50.00 44.00

10.00%

38.00 32.00 26.00

5.00%

20.00 14.00

0.00% 3 Year 5 Year Since inception

8.00 May-02 Sep-03 Feb-05 Jun-06 Oct-07 Feb-09 Jun-10 Oct-11

Pension Maximiser

Benchmark

Pension Maximiser

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Preserver
As on October 31, 2011
FUND OBJECTIVE To provide suitable returns through low risk investments in debt and money market instruments while attempting to protect the capital deployed in the fund.

Pension Dynamic P/E

DATE OF INCEPTION: June 22, 2004

PORTFOLIO
AUM (Rs. Million): 4,640.61

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt instruments Money Market & Cash

Max (%)
0 50 100

Min (%)
0 0 50

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
0.00% 4.97% 4.97% 0.00% 0.00% 59.71% 59.71% 0.00% 28.23% 7.08% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Liquid Index

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Preserver Fund ULIF 011 17/05/04 PPreserv 105 17.1043

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
92.90% 7.10% 0.00% 0.00% 0.00% 100.00%

ANNUALIZED RETURNS
10.00%

NAV GROWTH
18.00 17.00

8.00%
16.00 15.00 14.00

Average Maturity of Debt Portfolio (Months) 4.46 Average Maturity of Debt Benchmark (Months) 2.23 Yield to Maturity of Debt Portfolio 9.65%

6.00%

*** Last declared NAV (31-Oct-2011)

4.00%

13.00 12.00

2.00%
11.00

0.00% 3 Year 5 Year Since inception

10.00 Jun-04 Apr-06 Feb-08 Dec-09 Oct-11

Pension Preserver

Benchmark

Pension Preserver

Benchmark

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Multiplier
As on October 31, 2011
FUND OBJECTIVE To provide long-term capital appreciation from equity portfolio predominantly invested in NIFTY scrips.

Pension Dynamic P/E

DATE OF INCEPTION: Feb 25, 2008

PORTFOLIO
AUM (Rs. Million): 11,278.00

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
99.15% 0.85% 100.00%

RISK PROFILE Sector Allocation Expected return BENCHMARK S&P CNX Nifty
BANK TECHNOLOGY OIL & GAS FINANCE METALS & MINERALS CONSUMER TELECOM EPC AUTO CEMENT RETAIL INFRASTRUCTURE PHARMA & HEALTHCARE OTHERS

Allocation as a % in Equity
23.78% 15.44% 11.90% 10.35% 8.80% 8.57% 5.89% 4.87% 4.01% 3.24% 1.35% 1.21% 0.44% 0.15%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Multiplier Fund ULIF 043 25/02/08 PMultip1 105 9.91 Pension Multiplier Fund II ULIF 045 25/02/08 PMultip2 105 10.24

ANNUALIZED RETURNS
30.00%

NAV GROWTH
13.00 12.00

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. I T C LTD. RELIANCE INDUSTRIES LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD TATA CONSULTANCY SERVICES LTD. BHARTI AIRTEL LTD. LARSEN & TOUBRO LTD. AXIS BANK LTD. INDUSIND BANK LTD. PUNJAB NATIONAL BANK TATA STEEL LTD. POWER FINANCE CORPN. LTD. BANK OF BARODA H D F C BANK LTD. JINDAL STEEL & POWER LTD. ALLAHABAD BANK TATA MOTORS LTD. A C C LTD. HINDALCO INDUSTRIES LTD. CANARA BANK

Allocation as a % in Equity
9.28% 8.57% 8.31% 5.78% 5.47% 4.99% 4.87% 4.51% 3.72% 3.30% 3.00% 2.97% 2.79% 2.59% 2.45% 2.39% 2.35% 2.18% 2.15% 1.89%

20.00%

11.00 10.00

10.00%
0.65 -0.25

9.00 8.00 7.00 6.00 5.00

0.00%

-10.00%

-20.00% 1 Year 3 Year Since inception

4.00 Feb-08 Jul-08 Nov-08 Apr-09 Aug-09 Dec-09 May-10 Sep-10 Feb-11 Jun-11 Oct-11

Pension Multiplier

Benchmark

Pension Multiplier

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension RICH
As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of companies operating in four important types of industries viz., Resources, Investment-realted, Consumption-related and Human Capital leveraged industries.

Pension Dynamic P/E

DATE OF INCEPTION: Mar 18, 2008

PORTFOLIO
AUM (Rs. Million): 43,389.53

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
89.92% 10.08% 100.00%

RISK PROFILE Sector Allocation Expected return BENCHMARK BSE 200


OIL & GAS BANK TECHNOLOGY CONSUMER FINANCE METALS & MINERALS OTHERS INFRASTRUCTURE TELECOM AUTO CAPITAL GOODS CEMENT PHARMA & HEALTHCARE REAL ESTATE EPC MEDIA

Allocation as a % in Equity
14.51% 13.62% 13.01% 9.49% 7.73% 7.52% 7.12% 6.71% 4.95% 4.14% 4.10% 2.93% 1.61% 1.25% 1.18% 0.12%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension R.I.C.H. Fund ULIF 052 17/03/08 PRICH1 105 12.75 Pension R.I.C.H. Fund II ULIF 053 17/03/08 PRICH2 105 13.11

ANNUALIZED RETURNS
30.00%

NAV GROWTH
16.00 15.00

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. I T C LTD. H D F C BANK LTD. RELIANCE INDUSTRIES LTD. BHARTI AIRTEL LTD. TATA CONSULTANCY SERVICES LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD OIL & NATURAL GAS CORPN. LTD. TATA STEEL LTD. AXIS BANK LTD. STATE BANK OF INDIA STERLITE INDUSTRIES (INDIA) LTD. TATA POWER CO. LTD. POWER GRID CORPN. OF INDIA LTD. OIL INDIA LTD. MAHINDRA & MAHINDRA LTD. BHARAT HEAVY ELECTRICALS LTD. TATA CHEMICALS LTD. N T P C LTD. POWER FINANCE CORPN. LTD.

Allocation as a % in Equity
7.72% 7.21% 5.65% 4.94% 4.55% 4.44% 4.19% 3.34% 2.69% 2.44% 2.36% 2.26% 2.25% 2.06% 1.87% 1.86% 1.62% 1.41% 1.38% 1.30%

20.00%

14.00 13.00

10.00%

12.00 11.00 10.00

0.00%

9.00 8.00

-10.00%

7.00 6.00

-20.00% 1 Year 3 Year Since inception

5.00 Mar-08 Oct-08 May-09 Jan-10 Aug-10 Mar-11 Oct-11

Pension R.I.C.H

Benchmark

Pension R.I.C.H

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Flexi Balanced


As on October 31, 2011
FUND OBJECTIVE To achieve a balance between capital appreciation and stable returns by investing in a mix of equity and equity related instruments of large,mid and small cap companies and debt and debt related instruments.

Pension Dynamic P/E

DATE OF INCEPTION: Mar 20, 2007

PORTFOLIO
AUM (Rs. Million): 2,773.30

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
60 100

Min (%)
0 40

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
50.56% 34.21% 15.22% 100.00%

RISK PROFILE Expected return BENCHMARK 55% CNX 500 & 45% CRISIL Composite Bond Index

Top 5 Sectors in Equity


TECHNOLOGY OIL & GAS METALS & MINERALS BANK CONSUMER

Allocation as a % in Equity
13.24% 13.12% 11.07% 10.85% 10.58%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Flexi Balanced Fund ULIF 034 20/03/07 PFlexiBal1 105 14.15 Pension Flexi Balanced Fund II ULIF 035 20/03/07 PFlexiBal2 105 14.72

Top 10 Equity Stocks


I T C LTD. INFOSYS TECHNOLOGIES LTD. H D F C BANK LTD. RELIANCE INDUSTRIES LTD. BHARTI AIRTEL LTD. TATA CONSULTANCY SERVICES LTD. OIL & NATURAL GAS CORPN. LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD CIPLA LTD. GUJARAT MINERAL DEVP. CORPN. LTD.

Allocation as a % in Equity
7.70% 7.41% 6.98% 5.41% 4.66% 4.13% 4.02% 3.59% 2.93% 2.64%

ANNUALIZED RETURNS
20.00% 15.00% 10.00% 5.00% 0.00% -5.00% -10.00%

NAV GROWTH
16.00 15.00 14.00

Debt Asset Allocation


13.00 12.00 11.00 10.00 9.00 8.00 Mar-07 May-08 Jul-09 Sep-10 Oct-11

Allocation in Fund
7.24% 12.90% 11.11% 0.89% 0.90% 2.52% 2.52% 0.00% 11.55%

1 Year

3 Year

Since inception

GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Pension Flexi Balanced

Benchmark

Pension Flexi Balanced

Benchmark

Average Maturity of Debt Portfolio (Months) 41.30 Average Maturity of Benchmark (Months) 44.43 Yield to Maturity of Debt Portfolio 9.72%

*** Last declared NAV (31-Oct-2011)


For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Flexi Growth


As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of large, mid and small cap companies.

Pension Dynamic P/E

DATE OF INCEPTION: Mar 20, 2007

PORTFOLIO
AUM (Rs. Million): 58,311.02

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & equity related securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
92.14% 7.86% 100.00%

RISK PROFILE Sector Allocation Expected return BENCHMARK S&P CNX 500
BANK OIL & GAS TECHNOLOGY CONSUMER INFRASTRUCTURE METALS & MINERALS AUTO OTHERS CEMENT CAPITAL GOODS TELECOM FINANCE PHARMA & HEALTHCARE REAL ESTATE EPC MEDIA

Allocation as a % in Equity
18.37% 15.28% 9.74% 9.17% 8.69% 8.49% 7.91% 5.28% 4.11% 3.74% 3.62% 2.82% 2.44% 0.19% 0.16% 0.01%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Flexi Growth Fund ULIF 029 20/03/07 PFlexiGro1 105 14.2 Pension Flexi Growth Fund II ULIF 030 20/03/07 PFlexiGro2 105 14.74

ANNUALIZED RETURNS
30.00%

NAV GROWTH
19.00 18.00 17.00

Top 20 Equity Stocks


H D F C BANK LTD. INFOSYS TECHNOLOGIES LTD. MAHINDRA & MAHINDRA LTD. OIL & NATURAL GAS CORPN. LTD. AXIS BANK LTD. I T C LTD. BHARTI AIRTEL LTD. N T P C LTD. RELIANCE INDUSTRIES LTD. GRASIM INDUSTRIES LTD. GAIL (INDIA) LTD. POWER GRID CORPN. OF INDIA LTD. KANSAI NEROLAC PAINTS LTD. BANK OF BARODA STATE BANK OF INDIA LUPIN LTD. TATA CHEMICALS LTD. TATA CONSULTANCY SERVICES LTD. SATLUJ JAL VIDYUT NIGAM LIMITED BHARAT PETROLEUM CORPN. LTD.

Allocation as a % in Equity
7.29% 6.36% 6.26% 4.83% 4.80% 4.41% 3.62% 3.55% 3.52% 2.81% 2.58% 2.50% 2.42% 2.17% 2.03% 1.66% 1.64% 1.54% 1.53% 1.37%

20.00%

16.00 15.00

10.00%

14.00 13.00 12.00

0.00%

11.00 10.00

-10.00%

9.00 8.00 7.00

-20.00% 1 Year 3 Year Since inception

6.00 Mar-07 May-08 Jul-09 Sep-10 Oct-11

Pension Flexi Growth

Benchmark

Pension Flexi Growth

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Bluechip
As on October 31, 2011
FUND OBJECTIVE To provide long-term capital appreciation from equity portfolio predominantly invested in large cap stocks.

Pension Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 1,622.25

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & Equity Related Securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
99.95% 0.05% 100.00%

RISK PROFILE Sector Allocation Expected return BENCHMARK Nifty


BANK TECHNOLOGY OIL & GAS FINANCE CONSUMER METALS & MINERALS EPC TELECOM AUTO CEMENT INFRASTRUCTURE RETAIL OTHERS PHARMA & HEALTHCARE

Allocation as a % in Equity
23.03% 16.11% 13.05% 9.60% 9.15% 7.91% 4.70% 4.67% 3.99% 3.83% 1.29% 1.24% 1.03% 0.41%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Bluechip Fund ULIF 093 11/01/10 PBluChip 105 9.68

ANNUALIZED RETURNS
5.00%

NAV GROWTH
12.50 12.00

Top 20 Equity Stocks


INFOSYS TECHNOLOGIES LTD. I T C LTD. RELIANCE INDUSTRIES LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD LARSEN & TOUBRO LTD. TATA CONSULTANCY SERVICES LTD. BHARTI AIRTEL LTD. INDUSIND BANK LTD. AXIS BANK LTD. PUNJAB NATIONAL BANK BANK OF BARODA TATA STEEL LTD. H D F C BANK LTD. JINDAL STEEL & POWER LTD. ALLAHABAD BANK A C C LTD. TATA MOTORS LTD. POWER FINANCE CORPN. LTD. HINDALCO INDUSTRIES LTD. RURAL ELECTRIFICATION CORPN. LTD.

Allocation as a % in Equity
9.19% 9.15% 8.93% 5.65% 4.70% 4.69% 4.67% 4.32% 4.19% 4.10% 3.78% 2.75% 2.53% 2.40% 2.24% 2.12% 2.07% 1.99% 1.70% 1.69%

0.81% 0.00%
11.50 11.00

-5.00%

10.50 10.00

-10.00%

9.50 9.00

-15.00% 1 Year Since inception

8.50 Jan-10 Dec-10 Oct-11

Pension Bluechip

Benchmark

Pension Bluechip

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

Click Here

Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Income
As on October 31, 2011
FUND OBJECTIVE To provide accumulation of income through investment in various fixed income securities. The Fund seeks to provide capital appreciation while maintaining a suitable balance between return, safety and liquidity.

Pension Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 5,092.28

ASSET ALLOCATION
Indicative Portfolio Allocation
Debt Instruments, Money Market & Cash

Max (%)
100

Min (%)
100

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
19.14% 36.67% 26.93% 3.48% 6.26% 14.39% 14.39% 0.00% 17.73% 12.07% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Composite Bond Index

PERFORMANCE SUMMARY Risk


FUND Pension Income Fund SFIN NAV*** Rs. ULIF 095 11/01/10 PIncome 105 11.1201

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
35.79% 32.58% 0.80% 30.56% 0.28% 100.00%

ANNUALIZED RETURNS
7.00% 6.00% 5.00% 4.00%

NAV GROWTH
11.25

Average Maturity of Debt Portfolio (Months) Yield to Maturity of Debt Portfolio

42.64 9.7%

11.00

10.75

*** Last declared NAV (31-Oct-2011)

10.50

3.00%
10.25

2.00% 1.00% 0.00% 1 Year Since inception


10.00

9.75 Jan-10 Jun-10 Dec-10 May-11 Oct-11

Pension Income

Benchmark

Pension Income

Benchmark

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Money Market


As on October 31, 2011
FUND OBJECTIVE To provide suitable returns through low risk investments in debt and money market instruments while attempting to protect the capital deployed in the Fund.

Pension Dynamic P/E

DATE OF INCEPTION: Jan 18, 2010

PORTFOLIO
AUM (Rs. Million): 1,574.77

ASSET ALLOCATION
Indicative Portfolio Allocation
Debt Instruments Money Market & Cash

Max (%)
50 100

Min (%)
0 50

Asset Allocation
GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS OTHER CURRENT ASSETS AND EQUIVALENT TOTAL

Allocation in Fund
0.00% 3.16% 3.16% 0.00% 0.00% 68.92% 68.92% 0.00% 21.64% 6.28% 100.00%

RISK PROFILE Expected return BENCHMARK CRISIL Liquid Index

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Money Market Fund ULIF 096 11/01/10 PMoneyMkt 105 11.3545

Portfolio by Maturity
< 1 year 1-5 years 5-7 years 7-10 years > 10 years TOTAL

Allocation in Fund
94.96% 5.04% 0.00% 0.00% 0.00% 100.00%

ANNUALIZED RETURNS
10.00%

NAV GROWTH
11.40 11.20

Average Maturity of Debt Portfolio (Months) Yield to Maturity of Debt Portfolio

5.10 9.6%

8.00%
11.00

*** Last declared NAV (31-Oct-2011)

6.00%

10.80 10.60 10.40

4.00%

2.00%
10.20

0.00% 1 Year Since inception

10.00 Jan-10 May-10 Sep-10 Feb-11 Jun-11 Oct-11

Pension Money Market

Benchmark

Pension Money Market

Benchmark

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Opportunity
As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of companies operating in four important types of industries viz., Resources, Investment-related, Consumption-related and Human Capital leveraged industries.

Pension Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 4,875.67

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & Equity Related Securities Debt, Money Market & Cash

Asset Allocation
Max (%)
100 20

Min (%)
80 0

Allocation in Fund
83.50% 16.50% 100.00%

EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

RISK PROFILE Expected return BENCHMARK BSE 200

Sector Allocation
OIL & GAS BANK TECHNOLOGY CONSUMER METALS & MINERALS OTHERS TELECOM FINANCE CAPITAL GOODS INFRASTRUCTURE EPC AUTO CEMENT PHARMA & HEALTHCARE REAL ESTATE MEDIA RETAIL

Allocation as a % in Equity
16.13% 13.65% 11.40% 10.81% 9.67% 6.13% 5.50% 5.42% 4.25% 4.07% 3.50% 3.44% 2.55% 1.65% 1.03% 0.78% 0.01%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Opportunities Fund ULIF 092 11/01/10 POpport 105 10.15

ANNUALIZED RETURNS
5.00%

NAV GROWTH
12.50 12.00

Top 20 Equity Stocks


I T C LTD. H D F C BANK LTD. INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. BHARTI AIRTEL LTD. TATA CONSULTANCY SERVICES LTD. TATA STEEL LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD OIL & NATURAL GAS CORPN. LTD. KALPATARU POWER TRANSMISSION LTD. GAIL (INDIA) LTD. GODREJ CONSUMER PRODUCTS LTD. STERLITE INDUSTRIES (INDIA) LTD. NESTLE INDIA LTD. N T P C LTD. GRASIM INDUSTRIES LTD. BHARAT HEAVY ELECTRICALS LTD. MAHINDRA & MAHINDRA LTD. HINDALCO INDUSTRIES LTD.

Allocation as a % in Equity
7.28% 7.25% 7.09% 5.96% 4.65% 4.31% 4.30% 4.15% 3.86% 3.56% 2.08% 1.85% 1.80% 1.78% 1.73% 1.71% 1.67% 1.64% 1.56% 1.49%

0.00%
11.50 11.00 10.50

-5.00%

-10.00%

10.00 9.50

-15.00%
9.00

-20.00% 1 Year Since inception

8.50 Jan-10 Dec-10 Oct-11

Pension Opportunity

Benchmark

Pension Opportunity

Benchmark

*** Last declared NAV (31-Oct-2011)


For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Dynamic P/E


As on October 31, 2011
FUND OBJECTIVE To provide long term capital appreciation through dynamic asset allocation between equity and debt. The allocation in equity and equity related securities is determined by reference to the P/E multiple of a basket of 50 large cap stocks1; the remainder is to be invested in debt instruments, money market and cash.
1

Pension Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 13,395.40

ASSET ALLOCATION
Indicative Portfolio Allocation
Debt Instruments and Derivaties Equity and Equity related securities

Max (%)
100 100

Min (%)
0 0

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
94.65% 3.18% 2.17% 100.00%

Source: Based on prices and consensus earnings estimates from Bloomberg.

RISK PROFILE Expected return BENCHMARK NIFTY- 75% MIBEX - 25%

Top 5 Sectors in Equity


BANK TECHNOLOGY OIL & GAS CONSUMER AUTO

Allocation as a % in Equity
18.69% 14.53% 13.80% 9.04% 8.50%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension Dynamic P/E Fund ULIF 098 11/01/10 PDynmicPE 105 10.61

Top 10 Equity Stocks


INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. H D F C BANK LTD. I T C LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD STATE BANK OF INDIA LARSEN & TOUBRO LTD. TATA CONSULTANCY SERVICES LTD. AXIS BANK LTD. BHARTI AIRTEL LTD.

Allocation as a % in Equity
9.01% 8.87% 7.94% 6.76% 5.89% 4.90% 4.65% 3.55% 2.89% 2.86%

ANNUALIZED RETURNS
4.00% 2.00% 0.00% -2.00% -4.00% -6.00% -8.00% -10.00% 1 Year Since inception

NAV GROWTH
12.50 12.00 11.50 11.00 10.50 10.00 9.50 9.00 Jan-10 Dec-10 Oct-11

Debt Asset Allocation


GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Allocation in Fund
3.16% 0.02% 0.00% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00%

Pension Dynamic P/E

Benchmark

Pension Dynamic P/E

Benchmark

Average Maturity of Debt Portfolio (Months) Yield to Maturity of Debt Portfolio *** Last declared NAV (31-Oct-2011)

71.24 8.87%

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Multi Cap Balanced


As on October 31, 2011
FUND OBJECTIVE To achieve a balance between capital appreciation and stable returns by investing in a mix of equity and equity related instruments of large, mid and small cap companies and debt and debt related instruments.

Pension Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 1,581.01

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & Equity Related Securities Debt, Money Market & Cash

Max (%)
60 100

Min (%)
0 40

Asset Allocation
EQUITY DEBT OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
53.07% 25.57% 21.36% 100.00%

RISK PROFILE Expected return BENCHMARK CNX 500 - 55% CRISIL Composite Bond Index - 45%

Top 5 Sectors in Equity


BANK OIL & GAS METALS & MINERALS TECHNOLOGY CONSUMER

Allocation as a % in Equity
20.32% 10.19% 9.59% 9.38% 8.15%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension MultiCap Balanced Fund ULIF 094 11/01/10 PMCapBal 105 10.08

Top 10 Equity Stocks


I T C LTD. INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. BHARTI AIRTEL LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD AXIS BANK LTD. STATE BANK OF INDIA TATA CONSULTANCY SERVICES LTD. BANK OF BARODA TATA STEEL LTD.

Allocation as a % in Equity
5.97% 5.53% 4.38% 4.37% 3.77% 3.47% 3.40% 3.11% 3.06% 2.96%

ANNUALIZED RETURNS
2.00%

NAV GROWTH
11.45

0.00%
10.95

Debt Asset Allocation


-2.00%
10.45

Allocation in Fund
6.57% 7.09% 6.29% 0.38% 0.42% 3.32% 3.32% 0.00% 8.59%

-4.00%
9.95

-6.00%

-8.00% 1 Year Since inception

9.45 Jan-10 Jun-10 Dec-10 May-11 Oct-11

GOVERNMENT SECURITIES/ T BILLS CORPORATE SECURITIES AAA AND EQUIVALENT AA+ AND EQUIVALENT AA EQUIVALENT AND BELOW CORPORATE MONEY MARKET SECURITIES COMMERCIAL PAPER (P1+ AND EQUIVALENT) CERTIFICATE OF DEPOSIT (P1+ AND EQUIVALENT) FIXED DEPOSITS WITH BANKS

Pension Multi Cap Balanced

Benchmark

Pension Multi Cap Balanced

Benchmark

Average Maturity of Debt Portfolio (Months) Yield to Maturity of Debt Portfolio *** Last declared NAV (31-Oct-2011)

44.95 9.68%

For full portfolio details please

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Linked Life Funds


Pension Balancer Pension Multiplier Pension Bluechip Pension Protector Pension RICH Pension Income Pension Multi Cap Balanced

Linked Pension Funds


Pension Maximiser Pension Flexi Balanced Pension Money Market Pension Multi Cap Growth Pension Preserver Pension Flexi Growth Pension Opportunity

Pension Multi Cap Growth


As on October 31, 2011
FUND OBJECTIVE To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of large, mid and small cap companies.

Pension Dynamic P/E

DATE OF INCEPTION: Jan 11, 2010

PORTFOLIO
AUM (Rs. Million): 11,239.28

ASSET ALLOCATION
Indicative Portfolio Allocation
Equity & Equity Related Securities Debt, Money Market & Cash

Max (%)
100 20

Min (%)
80 0

Asset Allocation
EQUITY DEBT AND OTHER CURRENT ASSET & EQUIVALENT TOTAL

Allocation in Fund
86.91% 13.09% 100.00%

RISK PROFILE Sector Allocation Expected return BENCHMARK CNX 500


BANK OIL & GAS TECHNOLOGY AUTO METALS & MINERALS CONSUMER INFRASTRUCTURE PHARMA & HEALTHCARE TELECOM CEMENT OTHERS FINANCE CAPITAL GOODS REAL ESTATE EPC

Allocation as a % in Equity
19.99% 18.60% 10.43% 9.82% 7.94% 6.46% 5.71% 4.53% 4.17% 3.84% 3.10% 2.79% 1.60% 0.87% 0.16%

PERFORMANCE SUMMARY Risk


FUND SFIN NAV*** Rs. Pension MultiCap Growth Fund ULIF 091 11/01/10 PMCapGro 105 10.71

ANNUALIZED RETURNS
5.00%

NAV GROWTH
12.50

Top 20 Equity Stocks


MAHINDRA & MAHINDRA LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. OIL & NATURAL GAS CORPN. LTD. H D F C BANK LTD. BHARTI AIRTEL LTD. AXIS BANK LTD. RELIANCE INDUSTRIES LTD. GAIL (INDIA) LTD. GRASIM INDUSTRIES LTD. TATA STEEL LTD. BANK OF BARODA STATE BANK OF INDIA N T P C LTD. TATA CONSULTANCY SERVICES LTD. TATA CHEMICALS LTD. LUPIN LTD. BHARAT PETROLEUM CORPN. LTD. INDUSIND BANK LTD. ALLAHABAD BANK

Allocation as a % in Equity
7.51% 6.92% 5.06% 5.00% 4.51% 4.17% 4.14% 4.13% 4.05% 3.84% 3.66% 2.86% 2.81% 2.81% 2.63% 2.63% 2.49% 2.41% 2.38% 2.29%

0.00%
11.50

-5.00%
10.50

-10.00%
9.50

-15.00%

-20.00% 1 Year Since inception

8.50 Jan-10 May-10 Sep-10 Feb-11 Jun-11 Oct-11

Pension Multi Cap Growth

Benchmark

Pension Multi Cap Growth

Benchmark

*** Last declared NAV (31-Oct-2011)

For full portfolio details please

Click Here

Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom Find your Fund

Linked Pension Funds


The Investment Team Advises Glossary of Terms

How we Manage your Money

Product - Fund Matrix Linked Life Funds

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UIN Nos. LifeStage Regular Premium - 105L073V01, LifeStage Assure - 105L083V01, LIfeTime Plus - 105L054V01, LIfeTime Gold - 105L077V01, LifeTime Super - 105L056V01, LIfeTime II 105L031V01, Life Time - 105L013V01, Premier Life Gold - 105L061V01, Premier Life - 105L037V01, Wealth Advantage - 105L085V01, LifeLink Super - 105L053V01, LifeLink II 105L033V01, LIfeLink - 105N003V01, SmartKid New ULRP - 105L058V01, SmartKid ULRP Plan II - 105L036V01 , SmartKid ULRP - 105L028V01, SmartKid New Unit Linked SP - 105L059V01, SmartKid ULSP II - 105L035V01, Golden Years - 105L047V01, SmartKid Unit Linked SP - 105L029V01, Ace - 105L105V01, Assure Wealth Plus - 105L098V01, Assure Wealth Super 105L098V01, LifeStage Wealth - 105L103V01, Premier Wealth - 105L097V01, SmartKid Assure - 105L106V01, SmartKid Maxima - 105L104V01, Life Stage Wealth II - 105L118V01, Life Link Wealth SP - 105L111V01, Life Time Premier - 105L112V01, Life Time Maxima - 105L096V01, Pinnacle - 105L097V01

For information on other funds

Click Here

Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom Find your Fund

Linked Pension Funds


The Investment Team Advises Glossary of Terms

How we Manage your Money

Product - Fund Matrix Linked Pension Funds

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UIN Nos. LifeStage Pension - 105L100V01, LifeTime Super Pension - 105L055V01, LifeTime Pension II - 105L032V01, LifeTime Pension - 105L015V01, PremierLife Pension - 105L074V01, LifeLink Super Pension - 105L057V01, LifeLink Pension II - 105L034V01, LifeLink Pension - 105N003V01, Elite Pension - 105L094V01, LifeStage Assure Pension - 105L092V01, Assure Pension - 105L102V01, LifeStage Pension Advantage - 105L100V01, LifeTime Pension Maxima - 105L101V01, Elite Pension II - 105L099V01

For information on other funds

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Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom

Linked Pension Funds


The Investment Team Advises How we Manage your Money Find your Fund Glossary of Terms

The Investment Team Advises


Overall Advice
With volatility expected to continue in the near future, ATS may be used for any new investments. For existing investments, determine your risk profile and optimal asset allocation if not already done so. Determine the current asset allocation of your overall investment portfolio. Make suitable adjustment to your portfolio to bring it in line with your optimal asset allocation. You can use Switch or ATS facilities to easily adjust your asset allocation.

ICICI Prudential Highlights


We are one of the market leaders in the Indian private life insurance space We currently have over Rs. 67,000 cr (as on October 31, 2011) in assets under management. We are capitalized at Rs. 4,789 cr making us one of India's highest capitalized companies across sectors

Investment Team
Mr. Manish Kumar Executive Vice President Mr. Arun Srinivasan Senior Vice President Ms. Meghana Baji Senior Vice President Mr. Jitendra Arora Senior Vice President Mr. Lakshmikanth Reddy Executive Vice President

Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom Find your Fund

Linked Pension Funds


The Investment Team Advises Glossary of Terms

How we Manage your Money

The 5 Mantras of Financial Freedom


Managing one's financial investments may appear very complicated given all the confusing advice around and the jargon people often use. We will give you an overview of how we manage the complex part on the next page. Here, we discuss the critical few things you need to keep in mind. Think of them as your mantras of financial freedom.

Goal Based Investing


We all invest with certain goals in mind which can range from buying a car, to childrens higher education, to retirement. It is important to recognize these goals and build a plan suitable for each. One needs to particularly take note of the time horizon and level of risk one can take for each of these goals. For instance, if next year one plans to send his daughter to a foreign university, he cannot take any risks and it would be best to invest in something like a fixed deposit. Conversely with something like retirement, this if a long time away, one must have some exposure to equities since one can tolerate short term volatility for better returns in the long run.

Start Early, Stay Long Term


While most of us know this, few recognize the incredible power of compounding' that forms the basis of this maxim. For example, a person who invests Rs. 2 lac each year for 30 years and another person who invests Rs. 3 lac each year for 20 years would both have invested Rs. 60 lacs. However, at 10% rate of return, the first person will end up with over Rs. 3.6 crore and the second person with not even Rs. 1.9 crore, a difference of almost 50% ! The messege is clear, resist the temptation to splurge today. Go that extra mile to invest whatever you can as early as you can. Your Golden Years depend on it!

Regular Investments
This is another piece of advice that we hear very often and which has its basis in a key concept called rupee cost averaging. The simple fact to recognize is that no one can consistently time the market. In fact we make things worse by trying to time the market, because our psychology is such that we generally invest more when markets are high and everybody is cheerful, and likewise become fearful and invest less when markets are low, whereas we should be doing the opposite! Rupee Cost Averaging implies that by sticking to a systematic plan of investing regularly, say every month or quarter, we minimize the risk of entering the market when it is at its peak or missing our when valuations are at their most attractive. The Automatic Transfer Strategy (ATS) is an ideal tool to ensure regular investments.

Asset Allocation
This is a key decision to be taken and is responsible for attaining the significant returns that one gets over a long period of time. Asset allocation basically refers to the balance an investor maintains between his or her exposure to debt and equity instruments. The greater a person's risk taking ability the more investments he should assign to equity, and the higher will be the returns he will potentially make in the long-run. Risk appetite in turn depends on factors like age, income, dependants, investment horizon, inherent risk appetite, etc. Based on these parameters, an investor may calculate his optimal asset allocation using the calculator on our website. One should invest sticking closely to this asset allocation. Every quarter, asset allocation of one's investments should be reviewed and the fund switch feature should be used to bring asset allocation back in line with optimal asset allocation. Through this mechanism, one systematically invests more in equities when markets are low and less when markets are high, thus generating superior returns in the long run without worrying about things like timing the market.

Cover Your Financial Risks


We have all heard stories from friends or relatives about how a sudden illness or death completely degraded the lifestyle of someone they knew. Some of us take the cavalier attitude Oh that will never happen to me. Likewise there will be others who worry excessively and become victims of fear keeping their savings in liquid assets thus foregoing higher returns. Of course, the smart ones insure away all their risks, and their fears. For a fee (premium), insurance companies can insure against almost all risks such as death, illness, accidental disability, even house theft or fire. It is important to adequately cover the financial risks and live a life free from the burden of fear or low yielding emergency funds. For more details on how much life cover you need use the human life value calculator on our website.

Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom Find your Fund

Linked Pension Funds


The Investment Team Advises Glossary of Terms

How we Manage your Money

How we go about Managing your Money


The cornerstone of our investment philosophy is the investment policy put in place by our board's investment committee keeping in mind policyholders' long-term interests and regulatory norms. Following are some of the salient features of our investment philosophy as detailed in this charter:

Process-driven approach to investments: Every fund has a defined investment objective, a benchmark suitable to the objective and predecided style of investing so that fund performance is not a function only of a specific fund manager's skill but rather an outcome of policy defined features. Policyholders in insurance products commit money for the long-term and the investment performance cannot be purely subject to a specific fund manager's skill or competence who may or may not be consistent over the long-term.

Superior risk adjusted returns: The investment policy has well defined limits on permissible risks that can be taken even as it gives freedom to fund managers to out perform the relevant benchmarks. The idea is not only to earn high returns but to do so without taking high risks. We have a qualified and experienced team of fund managers who continuously analyze the factors affecting market movements like economic fundamentals, institutional fund flows and market sentiment. Their constant endeavour is to maximize risk adjusted returns.

Safety is paramount: One of our primary objectives is the safety of your investments and stability of returns. We ensure that our investment portfolio is adequately diversified and adheres to high standards of quality. Our investment policy does not permit us to follow risky strategies, whatever be the reward, such as holding poor quality credit or under diversified portfolios, etc.

Regulatory guidelines: Life insurance companies in India are regulated by Insurance Regulatory Development Authority (IRDA), and these regulations focus on: (I) safety of investors' money by defining a minimum acceptable quality of the investment portfolio, and (ii) transparency in terms of adequate disclosures about portfolio.

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The Investment Team Advises Glossary of Terms

How we Manage your Money

Glossary of Terms
As on October 31, 2011
Fund: This is a collective pool of money created from individual investments such that each individual shares risks and rewards in the proportion of their contribution. Since a fund is managed as a single investment vehicle, all the investors will face the same risks and rewards. A professional fund manager invests the fund according to the objective of the fund defined in the offer document or policy document. In case of a policyholder who pays premium, a predetermined part of this is used to pay for life cover and other expenses. The remaining part of the premium is the investment which is put in the various funds (such as Maximiser and Balancer) as per the investors instructions. The investor is free to change the allocation of investments at any time during the term of the policy. NAV: Net Asset Value of a fund on a given day is the total closing value of the securities held in the portfolio of the fund divided by the number of units outstanding. When a person invests a sum (say Rs. 10000) in a fund on a certain day when the NAV was Rs. 20 per unit he is assigned 1000020=500 units. On any given day, the investor can find the value of his investment in the fund by multiplying the units he holds by the NAV of the day. So if the NAV of the fund has become Rs. 30 per unit, the investor can calculate the value of his holdings as 500x30=Rs. 15000. The NAV changes with changes in value of investments in the fund. Risk: Concept of risk of an investment essentially captures the possibility of loss in that investment. Risk, in terms of portfolio management, is defined as variability of the returns of a fund or more correctly expected variability. So if fund A and fund B both given 10% annualized returns, however fund A gives this same 10% consistently every year but fund B gives 3% in one year, 12% in another year and so on but still averages 10% per annum in the long run, then fund B is said to be more risky than fund A. Risk is generally measured as standard deviation or variance of returns. For similar levels of returns a rational investor will always choose the least risky asset. Returns: Return is the reward one has got for taking risk and giving time. Absolute rate of return (or simply return) in a period is the ratio of increase (or decrease) in the NAV of the fund at the end of the period over the NAV at the start of the period. Generally when reporting for a period longer than 1 year, the return is annualized (generally using the CAGR method) for the purpose of comparison. For example if in the last 1 year, the NAV of a fund has increased from Rs. 20 to Rs. 25, then absolute return (and in this case the annualized return as well) is (25-20)20=25%. If over the last 2 years, the NAV has grown from Rs. 15 to Rs. 30 then the absolute return in 2 years is (30-15)15=100%; however the annualized return, or compound annual growth rate is 41.4% per annum. Benchmark: Every investment has to have a yardstick to evaluate whether it has met the objective of investment. A benchmark is a standard against which the performance of a fund can be compared. The benchmark for each fund is predetermined based on the investment objective and target asset allocation of the fund. At a macro level, a benchmark captures the average returns of all funds which have the same objective and funds that perform better than the benchmark can be said to be better than the average. Benchmarks can be either those that are readily available in the market or synthetically created. For example, Maximisera pure equity fund uses an equity benchmark the BSE 100, where as Balancer- a fund that invests 35% in equity and 65% in debt uses a synthetic benchmark consisting of 35% BSE 100 and 65% CRISIL composite bond index. Debt: Debt or fixed income as an asset class refers to investment in securities that have well defined pay offs, and mostly pf a fixed nature or a fixed rate of return for a fixed period. Because of the fixed nature of returns debts as an asset class is less risky than equity. All securities where the borrower is the government are classified as government securities or gifts and have a negligible level of risk of default, i.e., Non-payment. Other borrowers have varying levels of risk of default, determined by a neutral third party such as CRISIL or Moody by looking at the financial strength of the borrower and being described in the rating of the security where AAA is the safest followed by AA+,AA and so on. Among debt securities there are various types of instruments viz., money market instruments, Certificate of Deposits, Fixed Deposits, Corporate bonds, Gifts, Loans, etc., which have different maturity, risk and reward profiles. Equity: Equity investment means holding shares of companies, meaning that the investor is taking part ownership of a company rather that lending to the company. As a part owner of a business, the shareholder shares all the risks and rewards of the business. Several factors lead to appreciation in equity investments - all of which in some way relate to current and future prospects of the business of the company, also called fundamentals. Because of the variable nature of these factors, equity investments are more risky than debt investments, but have historically shown signifantly better returns in the long-run (investment horizon greater than 5 years). Sharpe Ratio: This is a popular measure of risk adjusted returns. This is an important measure because it is inaccurate to compare the returns of funds that have different risk profiles or objectives. For instance, fund A may perform better than fund B but this may be because it is investing in small cap companies that are more risky. Sharpe ratio helps to compare the returns of funds taking into account the riskiness of returns, and is defined as reward of investing in a risky asset per unit risk taken. More accurately, it is measured as: Sharpe Ratio = Annualized Excess Return Annualized Std Deviation of Excess Returns

Excess Return is the difference between the fund return and the risk free rate of return. Standard Deviation is a common measure of risk. So a higher Sharpe Ratio means a fund has given superior returns (over an asset that has no risk such as a government security) for every unit of risk. ATS: Automatic Transfer Strategy helps to mitigate any risk arising from market volatility by ensuring that you buy more units at lesser prices and fewer units when prices are high. Under ATS you can invest your entire premium in our money market funds (which are more conservative funds) and at predefined regular monthly intervals, i.e. 1st or 15th of every month, a fixed amount chosen by you is transferred to any one of the chosen equity based fund options available under the plan. This facility is available for customers opting for Fixed Portfolio Strategy and is FREE of charge.

Linked Life Funds


Performance Summary 5 Mantras of Financial Freedom Find your Fund

Linked Pension Funds


The Investment Team Advises Glossary of Terms

How we Manage your Money

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IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER. This document is for information purposes only. It does not constitute any recommendation 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. All opinions given here are general in nature and clients should take into account their personal investment objectives, risk appetite and other aspects of their financial situation before making an investment decision. Please invest or make any decision regarding your financial activities only after consulting your financial advisor. ICICI Prudential shall not be responsible for any losses caused or any claims that arise due to investments made based on this newsletter. All fund performances published in this newsletter are based on past performance and do not imply that future performance will be similar. Please note that the funds are invested in capital markets and are hence exposed to the market risks inherent in such investments. While every effort has been made to ensure accuracy of the contents of this newsletter the Company cannot be held responsible for any errors, opinions or projections published herein. 2009, ICICI Prudential Life Insurance Company Ltd. Registered Office: ICICI Prulife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025. Reg. No. 105, Insurance is the subject matter of the solicitation. Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values and the customer shall be responsible for his/her decision. The name of the Company, or names of the product or fund options do not indicate their quality or future guidance on returns. Funds do not offer guaranteed or assured returns. Investments are subject to market risk. Past performance may not be guide to future performance, which may be different. Comp/doc/2009/VR1

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