investment newsletter november 2011

Monthly Equity Roundup – November 2011
BSE Sensex
18000 17500

S&P Nifty
5400 5300 5200 5100 5000 4900 4800 4700 4600 4500

BSE Sensex

17000 16500 16000 15500

31-Oct-11

2-Nov-11

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12-Nov-11

14-Nov-11

16-Nov-11

18-Nov-11

20-Nov-11

22-Nov-11

24-Nov-11

26-Nov-11

28-Nov-11

November 2011-Review The domestic bourses witnessed a reversal in trend compared to last month and ended the month on a bleak note. A weakening trend in global markets on lingering concerns over the euro zone debt crisis and sharp currency depreciation dampened the trading sentiments of the Indian equity markets. The HSBC Markit India Manufacturing PMI showed that India’s service activity dropped for the second consecutive month as the new business growth declined. Dismaying economic data displayed significant economic slowdown and both these factor further dampened the market sentiments. The Q2 GDP growth reported at 6.9% which was disappointing but was almost near market expectation of 7%, while it was 7.7% in the previous quarter. The poor quarterly results of most of the companies also kept the investor sentiments weak. Global credit rating Major Fitch has lowered 2012 outlook of most of the Indian Telecom Companies due to increased competition and operating losses. BSE Sensex and S&P Nifty dropped 8.93% and 9.28% respectively with Sensex maintaining the psychological level of 16,000 mark towards the end of the month. There was no respite for investors in mid and small cap space, as both the indices fell significanlty over 10%. Foreign investors turned net sellers of equity in the current month and sold to the tune of Rs 3,821 crores as compared to the net purchase of Rs 1,677 crore in the previous month. The Indian rupee continued to depreciate amid higher US dollar demand by the importing companies and foreign cash outflow due to global economic uncertainty. It depreciated steeply to touch the record low of Rs 52.76 against US Dollar during in the month. Gold moved northwards as global uncertainty prevailing in the market supported the safe haven as investors preferred to take refuge under this asset. Moreover, festive demand and marriage season ahead also pushed up demand for the precious metal, resulting in prices moving upwards.
900 600 300

Institutional Flows in Equities
FII MF

Rs. in Crores

0 (300) (600) (900) (1200)

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30-Nov-11

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27-Nov-11

S&P Nifty
29-Nov-11

The weak GDP growth at 6. The US GDP grew lower than expected in the third quarter to 2% from earlier estimation of 2. The European Central Bank (ECB) cut benchmark interest rate by 25 bps to 1. FMCG and Teck fell relatively less compared to other sectors. Moreover the move to liberalize FDI norm would act as a breather to the negative investor sentiments. indicating the Indian Government’s intent to attract overseas funds. High interest rate and weak Q2 results by major realty companies have pushed realty stocks lower.9%.16 Global Markets The global markets witnessed volatile movements in November on the news that Greece shelved plan for the financial bailout referendum. after years of hesitation over allowing higher foreign investment in some sectors.5%. S&P retained US current credit rating. Coordinated central bank action to tame a liquidity crunch for European banks by providing cheaper dollar funding.9% for the second quarter of 2011-12 will play a role in softening RBI’s stance on inflation.It was a disappointing month on BSE sectoral front as all the indices ended in negative terrain.89 -5. Metal stocks too declined considerably on the back of weak economic data from Europe and China. The domestic markets will be taking cues from European markets especially debt stricken Greece and Italy. The sectoral performance is shown below: -1.32 -3. From the investment perspective. though in August S&P had cut US credit rating due to government’s inability and political impasse to lower the fiscal deficit.11 -14. Banking stocks dropped after credit rating Moody downgraded the outlook of Indian banking system from stable to negative. BSE realty fell significantly by 18.19 -14 -14. reducing pressure on US government.25% in order to boost growth versus its initial stance of keeping inflation low. The Index of Industrial Production showed a lower than expected growth of 1.11%.16%.73% in the month of October The WPI inflation after mellowing in September 2011 to 9. Later in month. However.42 BSE-HC BSE FMCG BSE Teck BSE IT BSE PSU BSE Oil & Gas BSE AUTO BSE CG BSE Pow er Index BSE Bankex BSE METAL BSE CD BSE Realty -18. News that Greece and Italy elected new prime ministers helped markets to gain in the initial month on hopes that the countries will meet EU expectations of reducing their debt in coming years.29 -11 -11. supported the market in the end of the month. plus a Chinese move to free up more bank capital. . Index of industrial production (IIP) number dipped to 1. Healthcare.72% from 9.9% in September 2011. S&P downgraded several US and European banks and upgraded the credit rating of their Chinese counterparts. The ongoing crisis has raised serious doubts about the future of the euro currency. Outlook Investors will look forward to the RBI policy review in mid December 2011 where RBI is expected to hold on policy rates.73% in October 2011 despite persistent anti-inflationary stance maintained by the RBI (Reserve bank of India).86 -12. The negative GDP of these countries due to persistence of debt crisis have made matters more severe.71 -4.65 -9.22 -9. Economy Update WPI Inflation increased marginally to 9. The metal index fell by 14. the lowest rate of growth in past two years mainly due to poor output from manufacturing sector amid the industrial activity showed negative growth mainly because of the high interest rate regime in the economy. investors are likely to avoid riskier assets till they notice some stability in the European markets.78% reported in August 2011 inched up marginally to 9.

90% 8.71 November-10 46. The other factors that affected the bond market where slowing GDP growth and industrial productivity./$) WPI Inflation (In %) 10 Yr Gilt Yield (In %) 5 Yr Gilt Yield (In %) 5 Yr Corporate Bond Yield (In %) Source: Bloomberg. The measures were announced as banks were facing liquidity crisis. they have conducted consecutive two bond buy-back of Rs 10.73 8. .91 8.74% over the month. In November. which led to rise in yields in the first half of November. The yield on the 10-year benchmark security decreased 14 bps to 8.07 7.80% GS 2021 could have prompted Government to issue a new 10 year paper.00% Liquidity crisis pushed up yields Hike in FII limit and bond buy back softened yields 8.73 9.04 8.88 8. Bharti-AXA Life Insurance Fixed Income Overview Particulars Exchange Rate (Rs. The higher outstanding amount on previous 10-year paper. Liquidity continued to be a cause of concern with the net infusion by the central bank remaining consistently high through the month.000 crore each. This month also saw the launch of new 10-year paper.17 9. Hence more OMO’s could be seen in the coming month.7. Liquidity crisis could hit once again in the first half of December when banks will see advance tax outflows by corporate houses. Government hiked the foreign investor’s investment limit by $5 billion each in government securities and corporate bonds and RBI decided to buy bank bonds from the secondary market to provide much needed liquidity into the system. Looking at the comments from the RBI chief and deputy governor it seemed that the central bank will continue to hold open market operations (OMO) to ensure liquidity in the banking system.65 Bond yields dropped after the Government and RBI announced much needed liquidity easing measures to ensure smooth flow of bond supply.87 9.20 8.74 8.11 8. If situation warrants.70% 31-Oct-11 5-Nov-11 10-Nov-11 15-Nov-11 20-Nov-11 25-Nov-11 30-Nov-11 Source :CCIL.64 October-11 48. cut in cash reserve ratio (CRR) could be one of the cards.80% 8.Monthly Debt Roundup – November 2011 10-year Benchmark Yield 9. Bharti AXA Life Insurance November-11 52.84 9.

The investment limit in government and corporate bonds was enhanced from $10 billion and $15 billion to $15 billion and $20 billion respectively. the overall impact on the WPI inflation would be minimal as manufacturing index is still elevated. Germany and France as the response for government debt auctions was much lower than expected.90% 8.70% 8. This apart. European Central Bank reduced rates unexpectedly by 25 bps to 1.72% in September 2011 but higher than 9.9%. During the quarter. However. 2011 is crucial due to worsening manufacturing sector signs of softening in inflation due to higher base effect. private consumption grew strongly while investment demand fell off a cliff.7% for 2011 and 2.9% in September 2011.5% and 2. This was mainly due to negative growth in mining and continuing sluggishness in manufacturing sector.10% 9.The hike in foreign investment limit was announced after the investment has reached its maximum limit for both government and corporate bonds. Bharti AXA Life Insurance YTM 5 6 7 9 10 15 As expected.73% against 9. Euro debt crisis deepened as bond yields rose in Italy. Another reason could be the fear of tepid demand for government bonds on the back of tight liquidity in the banking system. The growth in Industrial productivity also fell from 4. WPI inflation remained steady in October 2011 at 9. Outlook RBI’s monetary policy meeting on December 16. Hence. The supplies of fresh dated securities and advance tax payments in the mid-December 2011.08% recorded in the month of October 2010. India’s Gross domestic product (GDP) grew 6. As week progresses. Yield Curve 9.80% 8. The weekly inflation review shows a significant drop mainly due to higher base effect. slowest in the last 9 quarters signaling the need to hold interest rates steady.6% and 1. raises concern over further tightening of liquidity conditions in the market.9% in 2012 Corporate Bond: Corporate bond yields dropped in medium to long maturities in the range of 2 bps to 7 bps while short term maturities inched up 3 bps. Spread between AAA rated corporate bonds and Gilt expanded in 5 to 10 years maturities in the range of 4 to 21 bps. higher base effect would also start coming in food inflation similar to non-food inflation.1% in August 2011 to 1.25%.00% 8.50% 1 2 3 4 Period Source: CCIL. the yield movement will depend on the way RBI extends its ongoing liquidity measures to ease pressure in the banking system due to higher bond supply and deteriorating asset quality.60% 8. Federal Reserve in its FOMC meet lowered the US growth outlook and estimated GDP to be around 1. .

33 3.76 4.39 2.49 Equity portfolio % To Fund 8.31 1.36 -19. <1yr ABS & >=1yr CAGR Asset Class PerformanceTo Fund Fund % Benchmark -4.31 -14.67 -12.71 1.57 1.39 2.95 3.73 100.24 1.00 Sector Allocation Others Cement Engineering & Capital Goods Metal & Mining Telecommunication Pharmaceuticals Auto & Auto Ancillaries Oil & Gas FMCG IT Banking & Financials 0 5 Equity 93% % To Fund 6.87 1.10 28.82 -18.20 10.82 6.10 5.46 1.00 12.76 3.57 3.24 Aug 2006.93 18.80 4.35 1.42 8.19 2.21 7.48 9.72 2.73 5.89 5.79 10 15 20 INFOSYS TECHNOLOGIES LTD ITC LTD HDFC BANK LTD BHARTI AIRTEL LTD RELIANCE INDUSTRIES LTD ICICI BANK LTD TCS LTD HDFC LTD BAJAJ AUTO LTD SBI HINDUSTAN UNILEVER LTD M&M LTD DR REDDYs LAB LTD LARSEN & TOUBRO LTD SUN PHARMACEUTICALS INDUSTRIES ONGC CADILA HEALTHCARE LTD HERO HONDA MOTORS LTD COAL INDIA LTD GRASIM INDUSTRIES LTD AXIS BANK LTD TATA MOTORS LTD Others Cash And Current Assets Grand Total .68 Cash 7% -4.Grow Money Fund ULIF00221/08/2006EGROWMONEY130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX 100 *Inception Date.91 1.78 1.05 7.24 11.34 1. Lakhs) 61689.36 Assets Under Management (in Rs.12 4.32 2.

40 Assets Under Management (in Rs.94 9.20 4.11 4.62 -15.21 2.29 21.70 1.75 3.74 4.63 4.10 Dec 2008.22 4.14 33.02 1.05 4.12 2.38 7.28 1. <1yr ABS & >=1yr CAGR Asset Class Fund Performance % To Fund Benchmark -5.63 100.16 Equity 90% % To Fund 8. Lakhs) 1104.85 1.82 Cash 10% -4.30 18.22 2.06 2.01 18.85 9.58 -18.39 2.81 5.21 1.01 3.84 1.08 2.80 -12.58 9.16 8.57 1.00 Sector Allocation Others Cement Engineering & Capital Goods Telecommunication Metal & Mining Pharmaceuticals Auto & Auto Ancillaries Oil & Gas FMCG IT Banking & Financials 0 5 10 2.24 1.15 Equity portfolio INFOSYS TECHNOLOGIES LTD HDFC BANK LTD BHARTI AIRTEL LTD RELIANCE INDUSTRIES LTD ITC LTD ICICI BANK LTD TCS LTD HDFC LTD CORP BANK SUN PHARMACEUTICALS INDUSTRIES M&M LTD SBI HINDUSTAN UNILEVER LTD LARSEN & TOUBRO LTD BAJAJ AUTO LTD HERO HONDA MOTORS LTD ONGC DR REDDYs LAB LTD AXIS BANK LTD GRASIM INDUSTRIES LTD COAL INDIA LTD HINDUSTAN ZINC LTD Others Cash And Current Assets Grand Total % To Fund 6.81 15 20 .Growth Opportunities Pension Fund ULIF00814/12/2008EGRWTHOPRP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX500 *Inception Date.55 1.17 -20.87 11.

Lakhs) 14860.91 Cash 7% -4.60 9.32 4.05 -6.32 2.55 1.10 4.18 2.Grow Money Pension Fund ULIF00526/12/2007EGROWMONYP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX 100 *Inception Date.82 2.65 -12.18 4.35 1.96 1.13 2.74 3.62 Sector Allocation Equity portfolio % To Fund 7.44 4.32 1.61 2.92 5.46 7.03 1.27 12.98 5.23 28.26 1.23 10.03 Jan 2008.22 4.10 9.27 2.31 -14.94 1.75 -18.08 8. <1yr ABS & >=1yr CAGR Asset Class Fund Performance % To Fund Benchmark -4.00 Others Cement Engineering & Capital Goods Telecommunication Metal & Mining Auto & Auto Ancillaries Pharmaceuticals Oil & Gas FMCG IT Banking & Financials 0 5 Equity 93% % To Fund 6.57 20.50 100.05 10 15 20 25 INFOSYS TECHNOLOGIES LTD HDFC BANK LTD ITC LTD BHARTI AIRTEL LTD ICICI BANK LTD RELIANCE INDUSTRIES LTD TCS LTD HDFC LTD BAJAJ AUTO LTD SBI HINDUSTAN UNILEVER LTD LARSEN & TOUBRO LTD M&M LTD SUN PHARMACEUTICALS INDUSTRIES DR REDDYs LAB LTD CADILA HELATHCARE LTD ONGC HERO HONDA MOTORS LTD COAL INDIA LTD GRASIM INDUSTRIES LTD HINDALCO INDUSTRIES LTD AXIS BANK LTD Others Cash And Current Assets Grand Total .36 -19.09 3.57 1.81 5.17 -5.15 Assets Under Management (in Rs.30 1.

75 1.05 4.21 3. Lakhs) 4523.31 Assets Under Management (in Rs.22 8.50 1.59 1.83 5.30 28.36 -19. <1yr ABS & >=1yr CAGR Asset Class PerformanceTo fund Fund % Benchmark -4.10 1.40 8.00 2.34 1.26 Equity portfolio % To Fund 8.68 -13.82 4.31 -14.56 4.Grow Money Pension Plus Fund ULIF01501/01/2010EGRMONYPLP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX 100 *Inception Date.31 -2.00 9.02 9.58 5.25 3.87 1.25 10.22 Dec 2009.00 Sector Allocation Others Cement Engineering & Capital Goods Metal & Mining Telecommunication Pharmaceuticals FMCG Auto & Auto Ancillaries Oil & Gas IT Banking & Financials 0 5 Equity 92% % To Fund 5.56 Cash 8% -4.02 13.33 2.08 -19.22 2.39 1.85 1.99 3.41 100.37 10 15 20 INFOSYS TECHNOLOGIES LTD HDFC BANK LTD BHARTI AIRTEL LTD RELIANCE INDUSTRIES LTD ICICI BANK LTD TCS LTD ITC LTD HDFC LTD SBI HINDUSTAN UNILEVER LTD BAJAJ AUTO LTD M&M LTD LARSEN & TOUBRO LTD HERO HONDA MOTORS LTD SUN PHARMACEUTICALS INDUSTRIES DR REDDYs LAB LTD ONGC AXIS BANK LTD TATA MOTORS LTD COAL INDIA LTD GRASIM INDUSTRIES LTD HINDALCO INDUSTRIES LTD Others Cash And Current Assets Grand Total .67 19.77 1.33 2.11 5.71 2.45 4.34 1.05 -2.

36 20.20 33.61 3.63 1.49 4.02 8. <1yr ABS & >=1yr CAGR Asset Class Performance fund Fund % To Benchmark -5.93 5.00 Others Cement Telecommunication Metal & Mining Engineering & Capital Goods Pharmaceuticals Auto & Auto Ancillaries FMCG Oil & Gas IT Banking & Financials 0 5 10 2.10 Dec 2008.75 1.36 1.17 -20.24 8.84 100.88 10.42 -12.06 5.39 4.Growth Opportunities Fund ULIF00708/12/2008EGROWTHOPR130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX500 *Inception Date.64 4.71 1.23 11.18 Equity 89% % To Fund 8.72 1.61 2.81 1. Lakhs) 5800.19 2.71 3.24 3.10 INFOSYS TECHNOLOGIES LTD RELIANCE INDUSTRIES LTD BHARTI AIRTEL LTD HDFC BANK LTD ICICI BANK LTD ITC LTD TCS LTD HDFC LTD SBI M&M LTD HINDUSTAN UNILEVER LTD SUN PHARMACEUTICALS INDUSTRIES LARSEN & TOUBRO LTD BAJAJ AUTO LTD ONGC HERO HONDA MOTORS LTD GREAVES COTTON LTD DR REDDYs LAB LTD GRASIM INDUSTRIES LTD AXIS BANK LTD CADILA HEALTHCARE LTD COAL INDIA LTD Others Cash And Current Assets Grand Total 7.60 Assets Under Management (in Rs.31 1.04 10.62 -15.69 1.47 4.34 Sector Allocation Equity portfolio % To Fund 6.21 1.46 1.09 Cash 11% -4.86 17.60 2.02 1.29 22.95 1.03 15 20 .35 -18.

58 5.91 Assets Under Management (in Rs.76 3.44 1.62 -15.51 4.73 1.09 3.53 -12.53 1.54 1.14 1.91 4.11 Cash 10% -4.20 9.27 4.80 INFOSYS TECHNOLOGIES LTD BHARTI AIRTEL LTD RELIANCE INDUSTRIES LTD TCS LTD HDFC BANK LTD ICICI BANK LTD ITC LTD HDFC LTD M&M LTD SBI HINDUSTAN UNILEVER LTD LARSEN & TOUBRO LTD HERO HONDA MOTORS LTD ONGC DR REDDYs LAB LTD GRASIM INDUSTRIES LTD BAJAJ AUTO LTD GREAVES COTTON LTD SUN PHARMACEUTICALS INDUSTRIES AXIS BANK LTD COAL INDIA LTD TATA MOTORS LTD Others Cash And Current Assets Grand Total 5.58 Sector Allocation Equity portfolio % To Fund 6.24 12.55 2.74 9.40 1.22 2.17 -20.01 16.62 1.29 Dec 2009.83 1.29 -7.62 6.24 33.29 -2.00 Others Cement Engineering & Capital Goods Metal & Mining Telecommunication Pharmaceuticals Auto & Auto Ancillaries FMCG Oil & Gas IT Banking & Financials 0 5 2.39 1.98 1.25 4. Lakhs) 7456.05 10.71 4.Growth Opportunities Plus Fund ULIF01614/12/2009EGRWTHOPPL130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX500 *Inception Date.37 1.65 2.41 8.35 -18.88 10 15 20 .11 Equity 90% % To Fund 8.86 100.53 1. <1yr ABS & >=1yr CAGR Asset Class PerformanceTo fund Fund % Benchmark -5.

60 -12.61 4.40 1.45 -1.54 5.14 Dec 2009.20 4.47 1.05 -3.45 10 15 20 INFOSYS TECHNOLOGIES LTD BHARTI AIRTEL LTD HDFC BANK LTD RELIANCE INDUSTRIES LTD ITC LTD ICICI BANK LTD TCS LTD HDFC LTD HINDUSTAN UNILEVER LTD LARSEN & TOUBRO LTD SBI M&M LTD DR REDDYs LAB LTD HERO HONDA MOTORS LTD BAJAJ AUTO LTD GRASIM INDUSTRIES LTD TATA MOTORS LTD SUN PHARMACEUTICALS INDUSTRIES ONGC COAL INDIA LTD HINDALCO INDUSTRIES LTD AXIS BANK LTD Others Cash And Current Assets Grand Total .63 2.82 100.50 6.26 Sector Allocation Equity portfolio % To Fund 7.20 2.76 Assets Under Management (in Rs.43 3.31 -14.72 Cash 9% -4.96 1.32 2.15 1.89 4.82 19. Lakhs) 5934.12 6.36 -19. <1yr ABS & >=1yr CAGR Asset Class Performance Fund Fund % To Benchmark -4.93 10.28 26.00 Others Cement Engineering & Capital Goods Metal & Mining Telecommunication Pharmaceuticals Auto & Auto Ancillaries Oil & Gas FMCG IT Banking & Financials 0 5 Equity 91% % To Fund 5.25 5.70 9.83 1.47 2.33 1.11 8.42 1.Grow Money Plus Fund ULIF01214/12/2009EGROMONYPL130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX 100 *Inception Date.74 1.74 4.37 1.49 8.97 5.44 2.96 3.01 12.73 -18.66 1.

39 4.18 5.32 -1.39 1.81 1.22 2.69 12.07 2.77 Equity portfolio % To Fund 7.37 9.91 3.51 1.00 1.57 INFOSYS TECHNOLOGIES LTD BHARTI AIRTEL LTD RELIANCE INDUSTRIES LTD HDFC BANK LTD TCS LTD ICICI BANK LTD ITC LTD SBI HDFC LTD HINDUSTAN UNILEVER LTD M&M LTD LARSEN & TOUBRO LTD BAJAJ AUTO LTD ONGC HERO HONDA MOTORS LTD DR REDDYs LAB LTD SUN PHARMACEUTICALS INDUSTRIES CADILA HELATHCARE LTD GREAVES COTTON LTD AXIS BANK LTD GRASIM INDUSTRIES LTD COAL INDIA LTD Others Cash And Current Assets Grand Total 5.31 34. Lakhs) 6227.78 2.20 Assets Under Management (in Rs.09 5.23 2.29 -7.72 9.69 10.25 Jan 2010.18 3.17 -20.96 10 15 20 .73 1.72 1.43 1.58 7.06 100.08 2.55 1.86 -12. <1yr ABS & >=1yr CAGR Asset Class Performance Fund Fund % To Benchmark -5.92 3.00 Sector Allocation Others Cement Engineering & Capital Goods Metal & Mining Telecommunication Pharmaceuticals Auto & Auto Ancillaries FMCG Oil & Gas IT Banking & Financials 0 5 2.28 Equity 93% % To Fund 8.91 1.Growth Opportunities Pension Plus Fund ULIF01801/01/2010EGRWTHOPLP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX500 *Inception Date.66 4.37 7.62 -15.82 -18.00 Cash 7% -4.07 4.49 1.01 16.

18 -22.13 8.95 4.47 4. Lakhs) 2508.30 10.25 -10.66 -13.51 20.94 1.25 25.47 2.95 6.97 2.62 5.56 1.00 Sector Allocation Others Cement Engineering & Capital Goods Metal & Mining Pharmaceuticals Telecommunication Auto & Auto Ancillaries FMCG Oil & Gas IT Banking & Financials 0 Equity 93% % To Fund 6.35 3.34 1.82 6.69 10.73 5.98 1.44 2.92 100. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.60 1.43 5.18 4.26 1.36 1.70 Equity portfolio % To Fund 8.50 5 10 15 20 25 INFOSYS TECHNOLOGIES LTD RELIANCE INDUSTRIES LTD BHARTI AIRTEL LTD HDFC BANK LTD ITC LTD ICICI BANK LTD TCS LTD HDFC LTD HINDUATN UNILEVER LTD LARSEN & TOUBRO LTD SBI M&M LTD BAJAJ AUTO LTD ONGC HERO HONDA MOTORS LTD DR REDDYs LAB LTD COAL INDIA LTD TATA MOTORS LTD AXIS BANK LTD SUN PHARMACEUTICALS INDUSTRIES JINDAL STEEL & POWER LTD CAIRN INDIA LTD Others Cash And Current Assets Grand Total .95 4.18 Jan 2010.64 1.05 -6.10 Asset Class Performance fund Fund % To Cash 7% Benchmark: CNX 100 *Inception Date.85 13.49 1.36 -19.50 1.58 1.19 1.04 Benchmark -4.48 5.66 4.Build India Pension Fund ULIF01704/01/2010EBUILDINDP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -4.31 -14.

45 -6.11 -22.15 Feb 2010.36 -19.03 1.87 5.67 1.81 5 10 15 20 25 INFOSYS TECHNOLOGIES LTD RELIANCE INDUSTRIES LTD BHARTI AIRTEL LTD HDFC BANK LTD ITC LTD ICICI BANK LTD TCS LTD HDFC LTD HINDUSTAN UNILEVER LTD SBI LARSEN & TOUBRO LTD M&M LTD BAJAJ AUTO LTD HERO HONDA MOTORS LTD ONGC TATA MOTORS LTD COAL INDIA LTD AXIS BANK LTD DR REDDYs LAB LTD CAIRN INDIA LTD JINDAL STEEL & POWER LTD SUN PHARMACEUTICALS INDUSTRIES Others Cash And Current Assets Grand Total . Lakhs) 2387.49 4.07 2.09 6.Build India Fund ULIF01909/02/2010EBUILDINDA130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: CNX 100 *Inception Date.50 5.63 1.26 1.73 4.56 5. <1yr ABS & >=1yr CAGR Asset Class PerformanceTo Fund Fund % Benchmark -4.74 1.10 4.41 1.05 -0.23 7.37 3.59 2.83 2.03 4.50 1.68 Cash 8% -4.95 11.22 8.66 1.00 Others Cement Engineering & Capital Goods Pharmaceuticals Metal & Mining Telecommunication Auto & Auto Ancillaries FMCG Oil & Gas IT Banking & Financials 0 Equity 92% % To Fund 6.14 Sector Allocation Equity portfolio % To Fund 8.31 -14.69 4.88 9.60 20.43 1.60 100.14 2.37 1.35 2.70 5.71 Assets Under Management (in Rs.84 -13.20 25.09 13.

00 23.21 Aug 2006.09 2.00% SBT 05/07/2012 8.91 32.00 0.03 9.10 3.04 9.21 2. Lakhs) Sector Allocation Others Telecommunication Power Pharmaceuticals Engineering &… Metal & Mining Auto & Auto… FMCG Oil & Gas IT Banking & Financials 0 % To Fund 1.79% GOI 2021 0.81 3.53 2 4 6 8 10 6315.00% ICICI BK 12/01/2012 Others Cash And Current Assets Grand Total % To Fund 4.39 36.94 7.00 10.69 2.Save and Grow Money Fund ULIF00121/08/2006BSAVENGROW130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -0.98 Asset Class ( % To Fund) Fund Performance Cash 5% Equity 37% Debt 58% Benchmark: CNX 100=45%.79% GOI 2021 8.04 17.40 Benchmark -1.00% AXISBANK 09/01/2012 7.14 5.53 1.45 -4.47 2.20 0-1 Yrs 1-3 Yrs 3-5 Yrs >5 Yrs .07 -4. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.94 1.55 1.07 1.28 3. Crisil Composite Bond Fund Index=55% *Inception Date.01 4.59% GOI 2016 0.20% NHB 30/08/2013 0.18 3.61 2.15 6.28 3.42 2.11 12.96 1.27 P1 & Eq 29% AA+ & Eq 1% Debt Maturity Profile (%To Fund) 30.89 0.00 20.22 2.14 1.25 14.94 2.66 63.93 3.94 -3.22 2.65% HDFC 13/09/2016 8.74 Debt Ratings Profile Sovereign 16% AAA & Eq 53% Debt portfolio 9.20 2.26 -5.59 Equity portfolio INFOSYS TECHNOLOGIES LTD HDFC BANK LTD RELIANCE INDUSTRIES LTD ITC LTD ICICI BANK LTD LARSEN & TOUBRO LTD HDFC LTD TCS LTD SBI AXIS BANK LTD Others Grand Total % To Fund 3.30 4.

69 -13.42 4.88 4.07 3.75 -10.03 Asset Class ( % To fund) Fund Performance Cash 5% Debt 23% Benchmark: CNX 100=80%.02% GOI 2016 6.14 Dec 2009.00% SBH 04/01/2012 0.25% BRITANNIA 22/03/2013 7. Lakhs) Sector Allocation Others FMCG Telecommunication Cement Pharmaceuticals Engineering &… Metal & Mining IT Oil & Gas Auto & Auto… Banking & Financials 0 % To Fund 3.14 6.39 3.47 3.99 -1.47 36.64 Equity portfolio SBI BAJAJ AUTO LTD ICICI BANK LTD LARSEN & TOUBRO LTD TCS LTD HDFC BANK LTD HDFC LTD BHARTI AIRTEL LTD COAL INDIA LTD ONGC Others Grand Total Debt portfolio 8.01 -12.49% GOI 2015 0.91 Benchmark -3.47 9.11 4.72 3.55 2.00 0.Invest and Grow Money Pension Fund ULIF01307/12/2009BINVNGROWP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -3.13 -10.07 2.02 % To Fund 4.85 0.00 5.38 6.87 3.56 20.40 5.91 28.55 3.55 7.00% AXISBANK 24/01/2012 9.72 5.72 5.28 3. <1yr ABS & >=1yr CAGR Equity 72% Assets Under Management (in Rs.29 71.00 0-1 Yrs 1-3 Yrs 3-5 Yrs 7.10 3.89 -0.01 4.98 Debt Ratings Profile AAA & Eq 25% Sovereign 42% P1+ & Eq 33% Debt Maturity Profile (% To Fund) 15.40 2.66 . Crisil Composite Bond Fund Index=20% *Inception Date.25% DR REDDYS 24/03/2014 Cash And Current Assets Grand Total % To Fund 5.42 3.16 5 10 15 20 25 25.75 4.73 9.00 10.

60 2.43 % To Fund 5.11 3.34 1.89 20.96 Benchmark -1.00% SBT 05/07/2012 8.76 1.16 3.69 3.25% RGTIL 22/08/2021 11.05 3.03 1. Crisil Composite Bond Fund Index=55% *Inception Date.00 20.79 Equity portfolio INFOSYS TECHNOLOGIES LTD HDFC BANK LTD ITC LTD RELIANCE INDUSTRIES LTD HDFC LTD ICICI BANK LTD LARSEN & TOUBRO LTD BHARTI AIRTEL LTD HINDUSTAN UNILEVER LTD TCS LTD Others Grand Total Debt portfolio 0.Save and Grow Money Pension Fund ULIF00426/12/2007BSNGROWPEN130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -0.00 0-1 Yrs 1-3 Yrs 3-5 Yrs >5 Yrs 19.03 17.00% SBT 10/02/2013 0.12 -4.11 % To Fund 1693.43 1.45% RELIANCE 25/11/2013 10.41 2.74 -3.04 2.03 Jan 2008.97 1.86 1.61 1. Lakhs) Sector Allocation Others Telecommunication Power Pharmaceuticals Engineering &… Metal & Mining Auto & Auto … FMCG Oil & Gas IT Banking & Financials 0 2 1.95 2.56 4.47 3.80 9. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.79 2.28 1.42 36.19 9.85 3.27 1.11 4 6 8 10 Debt Ratings Profile Sovereign 18% AAA & Eq 51% P1+ & Eq 30% AA+ & Eq 1% Debt Maturity Profile (% To Fund) 30.55 63.05 5.57 2.34 Asset Class ( % To Fund) Fund Performance Cash 4% Equity 36% Debt 60% Benchmark: CNX 100=45%.40% LIC HOUSING 18/08/2013 10.00 0.07 -4.48 3.00 10.10 2.15 1.26 -5.59% GOI 2016 Others Cash And Current Assets Grand Total % To Fund 4.20 3.66 33.00% BOI 02/02/2012 7.00 .15 0.94 10.00% AXISBANK 09/01/2012 0.

00 0.85 10.22 .00% CANARA BK 27/12/2011 364 D TB 04/05/2012 0.35 16.76 5.11 Oct 2010.00% SBH 04/01/2012 Others Cash And Current Assets Grand Total % To Fund 3.09 1.00% UNION BK 31/01/2012 7.13 Power 0.28 8.36 -1.27 1.80% GOI 2020 0.79 4.07 Oil & Gas 1.21 % To Fund 21.00 25.28 0.56 Engineering &… 1.17 Benchmark ----- Asset Class ( % To Fund) Fund Performance Equity 10% Cash 11% *Inception Date.45 -5.24 1.42 0.54 Pharmaceuticals 0.True Wealth Fund ULIF02104/10/2010BTRUEWLTHG130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -1. <1yr ABS & >=1yr CAGR Debt 79% Assets Under Management (in Rs.62 6.07 10.26 1. Lakhs) Sector Allocation Others 0.47 Metal & Mining 1.00% ICICI BK 13/12/2011 0.26 Infrastructure 0.17 1.03 3.70 -10.10 4 5 Debt Ratings Profile Sovereign 45% P1+ & Eq 55% Debt Maturity Profile (% To Fund) 50.47 Banking & Financials 0 1 2 3 % To Fund 5802.78 0.12 5.96 Equity portfolio AXIS BANK LTD HINDALCO INDUSTRIES LTD CAIRN INDIA LTD BHEL HDFC BANK LTD JAIPRAKASH ASSOCIATES LTD MARUTI UDYOG LTD BHARAT PETROLEUM CORP LTD DR REDDYs LAB LTD NTPC LTD Others Grand Total Debt portfolio 7.00 0-1 Yrs >5 Yrs 48.27 0.00% ICICI BK 05/01/2012 0.80% GOI 2021 0.65 89.07 0.86 10.03 Telecommunication 0.71 30.54 0.03 FMCG 0.55 Auto & Auto … 0.

Crisil Composite Bond Fund Index=80% *Inception Date.54 0.33 4.40 0.66 10.87 14.42 0.49% GOI 2015 8.68 52.21 0.76 0. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.Protect and Grow Money Pension Fund ULIF01407/12/2009BPRTCTNGRP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception 0.71 4.81 0.79 0.54 0.66 4.00% ICICI BK 05/01/2012 0.05 1.00 0-1 Yrs 1-3 Yrs 3-5 Yrs 10.97 % To Fund 64.50 5.00% AXISBANK 23/01/2012 0.76 0.00% ORIENTAL BK 13/02/2012 6.99 % To Fund 3.42 0.79 1.25% BRITANNIA 22/03/2013 0.60 0.07 2 4 6 8 Debt Ratings Profile Sovereign 18% AAA & Eq AA+ & Eq 10% 1% P1+ & Eq 71% Debt Maturity Profile (% to Fund) 60.00 40.00% AXISBANK 24/01/2012 6.20 8.89 12.72 15.06 .49 Benchmark 0. Lakhs) Sector Allocation Others Telecommunication Power FMCG Oil & Gas Metal & Mining Pharmaceuticals Engineering &… Auto & Auto… IT Banking & Financials 0 0.17 1.17 4.00 20.33 0.23 10.10 1.73 0.01 6.56 Equity portfolio SBI INFOSYS TECHNOLOGIES LTD HDFC LTD HDFC BANK LTD ICICI BANK LTD LARSEN & TOUBRO LTD TCS LTD BHARTI AIRTEL LTD HINDUSTAN UNILEVER LTD ONGC Others Grand Total Debt portfolio 0.05 85.78 1.03 1.64 6.00 0.33 1.14 Dec 2009.58 3.07% GOI 2014 Others Cash And Current Assets Grand Total % To Fund 16.46 0.39 0.56 Asset Class ( % To Fund) Fund Performance Cash 15% Equity 14% Debt 71% Benchmark: CNX 100=20%.

00% HDFC BK 13/08/2012 10.39 Asset Class ( % To Fund) Fund Performance Cash 2% Benchmark: Crisil Composite Bond Fund Index *Inception Date.56 4.17 3.11 6.00% ICICI BK 12/01/2012 0.70 3.22 6.00 0.80 24.29 2.09 1.75% BAJAJ AUTO FIN 26/07/2013 7.00 0-1 Yrs 1-3 Yrs 3-5 Yrs >5 Yrs 25.00 40.00% BOI 02/02/2012 8.62 19.00 Sovereign 20% Debt 98% Debt Ratings Profile AAA & Eq 47% P1+ & Eq 29% AA+ & Eq 4% Debt Maturity Profile (% To Fund) 50.Steady Money Fund ULIF00321/08/2006DSTDYMOENY130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception 1.26 2.30% HDFC 23/06/2015 9.22 2.28 4.85 1.01 6.57 4.00 10.00% ORIENTAL BK 13/02/2012 0. Lakhs) 4334.56 2.00% AXISBANK 09/01/2012 8.97 2.48% IDFC 28/09/2013 10.49% GOI 2015 2.05 5.11 12.00 20.39 7. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.13 3.05 100.65 .02% GOI 2016 6.85 1.31% IDBI BANK 09/08/2012 8.23 4.25% BRITANNIA 22/03/2013 Others Cash And Current Assets Grand Total % To Fund 7.39 2.75% REC 11/11/2021 10.05 Sep 2006.38 7.25% RGTIL 22/08/2021 364 D TB 04/05/2012 7.59% GOI 2016 9.00% TATA MOTORS 31/03/2013 0.45% LIC HOUSING 02/11/2012 8.25 2.00 30.51 2.17 4.10 2.00% AXISBANK 24/01/2012 0.79% GOI 2021 7.58 40.30 Debt portfolio 0.05 Benchmark 1.20% NHB 30/08/2013 8.65% HDFC 13/09/2016 8.27 2.45 4.

<1yr ABS & >=1yr CAGR Assets Under Management (in Rs.19 May 2009.98 Asset Class ( % To Fund) Fund Performance Cash 4% Benchmark: 15 Year G-Sec Yield *Inception Date.37 0.15% GOI 2024 8.01 3.20% GOI 2024 8.00 96.80 -5.45 1.77 1.03% GOI 2024 9.86 5.20% GOI 2024 A 7.Build n Protect Series 1 Fund ULIF00919/05/2009BBUILDNPS1130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -1.43 2.43 0.71 Benchmark -5.26 -7.83 100. Lakhs) 1331.00 0.99 13.20% GOI 2023 8.35% GOI 2024 8.35% GOI 2024 8.00 25.00 Debt 96% Debt Ratings Profile Sovereign 100% Debt Maturity Profile (%To Fund) 100.28 8.00 50.17 75.00 0-1 Yrs 1-3 Yrs 3-5 Yrs >5 Yrs .95% GOI 2025 7.81 -9.90% GOI 2026 Cash And Current Assets Grand Total % To Fund 39.01% GOI 2023 6.00 4.81 7.78 13.25 1.38 Debt portfolio 6.

43 4.00% ORIENTAL BK 13/02/2012 10.40 1.00% FEDERAL BK 16/07/2012 10.98 3.42 2.56 5.05 4.77 1.38 0.00% SBT 23/03/2013 0.64 3.58 50.06 8.46 Asset Class ( % To Fund) Fund Performance Cash 11% Benchmark: Crisil Liquid Fund Index *Inception Date.53 6.09 Debt portfolio 0.61 1.00 Debt 89% Debt Ratings Profile Sovereign 37% AAA & Eq 31% P1+ & Eq 32% Debt Maturity Profile (% To Fund) 75.41 0.03 3.08 6.49 4.90 7.01 2.51 3.53 Benchmark 2.08 Jul 2009.00% ICICI BK 13/12/2011 10.31% IDBI BANK 09/08/2012 Others Cash And Current Assets Grand Total % To Fund 10.00 25.21 4.00% CANARA BK 27/12/2011 10.83 1.00% SBT 05/07/2012 10.00% SBT 22/02/2013 0. Lakhs) 620.55 0.04 8. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.80 11.02 100.76 8.00% SBT 15/02/2013 10.00% ICICI BK 05/01/2012 364 D TB 04/05/2012 10.00% SBT 01/02/2013 0.61 1.00 0-1 Yrs 1-3 Yrs .00 21.00% AXISBANK 09/01/2012 0.00% BOI 02/02/2012 10.00% FEDERAL BK 14/07/2012 10.06 7.Safe Money Fund ULIF01007/07/2009LSAFEMONEY130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception 1.00 67.00% SBT 13/04/2013 48 D TB 05/12/2011 364 D TB 05/10/2012 182 D TB 11/05/2012 0.87 10.00% SBT 14/01/2013 0.

58 5.00% AXISBANK 09/01/2012 0.00% ICICI BK 05/01/2012 0.99 2.71 5.93 60.00% ICICI BK 12/01/2012 10.00% SBT 05/07/2012 48 D TB 05/12/2011 0.00% FEDERAL BK 14/07/2012 0.05 4.46 Cash 6% 2.47 5.00 30.96 5.58 7.74 4.48 9.91 1.02 3.00% CANARA BK 27/12/2011 10.00% FEDERAL BK 16/07/2012 10.00% BOI 02/02/2012 10.00% HDFC BANK 13/08/2012 364 D TB 02/12/2011 364 D TB 05/10/2012 10.94 2.39 1.00% SBT 23/03/2013 0.44 100.00% SBT 13/04/2013 0.34 4. Lakhs) Debt 94% 502.99 1.04 8.08 6.00% SBT 14/01/2013 0.67 3.96 7.96 2. <1yr ABS & >=1yr CAGR Asset Class ( % To Fund) Fund Performance Benchmark 2.54 Assets Under Management (in Rs.00 11.31% IDBI BANK 09/08/2012 Others Cash And Current Assets Grand Total % To Fund 12.00 81.08 Jul 2009.99 1.98 4.38 Debt Ratings Profile Debt portfolio 364 D TB 04/05/2012 182 D TB 11/05/2012 0.Safe Money Pension Fund ULIF01107/12/2009LSAFEMONYP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception Benchmark: Crisil Liquid Fund Index *Inception Date.63 0.11 3.00% UNION BK 31/01/2012 10.13 2.00 AAA & Eq 25% Sovereign 35% P1+ & Eq 40% Debt Maturity Profile (% To Fund) 90.90 0.54 6.79 6.00% ORIENTAL BK 13/02/2012 10.00 0-1 Yrs 1-3 Yrs .

40% RPTL 18/07/2021 10.51 2.29 5.79% GOI 2021 8.36 3.21 4.71 2.01 6.41 2. Lakhs) 1661.68 6.00% ORIENTAL BK 13/02/2012 8.00% BOI 02/02/2012 9.77 2.59% GOI 2016 CGSB 0.Steady Money Pension Fund ULIF00626/12/2007DSTDYMONYP130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception 1.42 4.00 0-1 Yrs 1-3 Yrs 3-5 Yrs >5 Yrs .00 Debt 96% Debt Ratings Profile Sovereign 24% AAA & Eq 51% P1+ & Eq 24% AA+ & Eq 1% Debt Maturity Profile (% To Fund) 40.27 Asset Class ( % To Fund) Fund Performance Cash 4% Benchmark: Crisil Composite Bond Fund Index *Inception Date. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.65 100.41 20.03 Jan 2008.83 2.00 30.81 4.49 3.90% REC 30/09/2013 9.25% RGTIL 22/08/2021 10.49% GOI 2015 10.28 5.95 Debt portfolio 0.55 2.70% POWER FIN CORP 14/05/2015 8.75% REC 11/11/2021 7.65% HDFC 13/09/2016 8.55 4.72 0.00% SBT 23/03/2013 42 D TB 21/12/2011 6.11 1.02% GOI 2016 10.22 6.68% PGC 07/12/2013 7.43 4.00% TATA MOTORS 31/03/2013 10.00 15.61 3.00 20.06 10.16 30.34 2.74 19.00% AXISBANK 24/01/2012 8.45 2.80% GOI 2021 2.02 2.29 6.57 4.69 2.35% HDFC 19/07/2015 Others Cash And Current Assets Grand Total % To Fund 11.30 3.00% SBT 10/02/2013 0.20% NHB 30/08/2013 7.00 30.29 Benchmark 1.

84 Asset Class ( % To Fund) Fund Performance Cash 8% Benchmark: 15 year G-Sec Yield *Inception Date.00 25.81 -6.00 91.Build n Protect Fund Series 2 ULIF02022/06/2009BBUILDNPS2130 Fund Performance Fund 3 Months 6 Months 1 year Since Inception -1.20 100.63 8.00 50.80 -5.42 1.90% GOI 2026 8.80 0.92 2.26 -7. Lakhs) 121.09 Apr 2010.29 Benchmark -5.00 Debt Ratings Profile Sovereign 100% Debt Maturity Profile (%To Fund) 100.24 Debt 92% Debt portfolio 6. <1yr ABS & >=1yr CAGR Assets Under Management (in Rs.00 0-1 Yrs 1-3 Yrs 3-5 Yrs >5 Yrs .00% GOI 2026 Cash And Current Assets Grand Total % To Fund 66.16 25.79 75.00 0.

recommendation or solicitation to enter into any transaction. 3. Grow Money Pension Plus. Safe Money Pension Fund. accepts no responsibility or liability for errors of facts or accuracy or opinions expressed and Policymaker should use his/her own discretion and judgment while investing in financial markets. Regd. Save n Grow Money Pension Fund. Off Western Express Highway. CAGR=Compounded Annual Growth Rate.This Investment Newsletter is for information purpose only and should not be construed as financial advice. 4. No. Raheja Titanium. Protect & Grow Money Pension. www. Safe Money Fund. Build n Protect Fund Series 1. Invest n Grow Money Plus.Disclaimers: 1. While all reasonable care has been ensured in preparing this newsletter. Build India Pension.com Compliance No. Bharti AXA Life Insurance Company Limited. is not indicative of future performance or returns. ABS=Absolute Return. 5. Unit. Mumbai.com. Steady Money Pension Fund.601 & 602. Grow Money Plus. Address: 6th Floor. Growth Opportunities Pension Plus Fund. as shown above. offer.400 063. Build n Protect Fund Series 2 and True Wealth Fund are only the names of the funds and do not indicate its expected future returns or performance. Email: service@bharti-axalife. 2. 130). Growth Opportunities Fund. Bharti AXA Life Insurance Company limited or any other person connected with it.bharti-axalife. Growth Opportunities Pension Fund. Growth Opportunities Plus. Steady Money Fund. (Regd. Goregaon (East). Grow Money Fund. The information contained herein is as on 30th November 2011. Save n Grow Money Fund. Grow Money Pension Fund.: Comp-Dec-2011-1799 . Build India Fund. Past performance of the funds. Toll free: 1800 102 4444 SMS SERVICE to 56677 (We will be in touch within 24 hours to address your query).