Equity Market

Sensex 22000 20000 18000 5000 16000 14000 4500 4000

Dow Jones Nikkei Hang Seng Nasdaq KOSPI

Nifty 6500 6000 5500

Key Indices
Nifty Sensex BSE 100

31-Mar-11
5833.75 19445.22 10095.74 12319.73 9755.10 23527.52 2781.07 2106.70

28-Feb-11
5333.25 17823.40 9259.48 12226.34 10624.09 23338.02 2782.27 1939.30

% Change
9.38% 9.10% 9.03% 0.76% -8.18% 0.81% -0.04% 8.63%

Nov-10

Jun-10

May-10

Feb-10

Mar-10

Jan-11

Apr-10

Jul-10

Oct-10

Feb-11

Aug-10

Sep-10

India's improving political and policy environment along-with external account resilience in the wake of higher Oil prices attracted FII flows back into the equity markets in the month of March. The BSE Sensex bounced back smartly at the fag-end of the month and touched a two-month high after touching a 7-month low in February, up 9% MoM. India outperformed the global indices for the first time in CY2011 in March and it emerged as the second best-performing market (after Korea) in the world. Indian Currency has been relatively stable led by growth in exports, improvement in capital account deficit & pick-up in FII flows in debt markets and increase in ECBs by Indian Inc. which helped bridge the moderation in equity flows. FII flows in equity markets picked up in March-end only to nullify the negative flows to a large extent in the current calendar YTD. The Budget session is proceeding smoothly and various bills relating to banking and pension regulations are getting tabled for discussion. The Ministry of Environment and Forest clearance appears to have softened his stance in favor of growth and have provided clearance to substantial number of stalled projects as the government machinery has finally started to take important policy decisions to re-ignite the much needed investments climate in the country. Additionally, the government has eased rules on foreign investments. For instance, foreign companies operating in India won't need prior approval from their existing joint-venture partners to operate separately in same business segments thereby promoting the competitiveness of India as an investment destination. Such moves will be instrumental in attracting more FDI inflows into the country which crucial for a capital-starved country like ours. With inflation remaining high, RBI in its policy meet raised key policy rates by 25bps as expected. On the positive side, the Q4 advance tax numbers grew by 25-30%, IIP came out to be better than expectation, new order announced by government entities like Powergrid, NHAI etc, auto demand continued to be strong and cement sales are showing improvement.

FII
6500 5500 4500 3500 2500

MF
50.00 49.00 48.00 47.00 46.00 45.00 44.00 43.00 42.00

Dec-10

Mar-11

Rs v/s USD

In US $ MN

1500 500 (500)

(1500) (2500)

Oct 10

May 10

June 10

Aug 10

Sept 10

Nov 10

Mar 10

Jan 11

Apr 10

Feb 11

July 10

Dec 10

Mar 11

Jun-10

Nov-10

May-10

Feb-10

Mar-10

Jan-11

Jul-10

Feb-11

Aug-10

Sep-10

Equity Outlook
The sustainability of the recent equity market rally and the attractiveness of India as a powerful investment destination would depend upon the political will to implement reforms like DTC, GST, FDI in retail, Insurance etc. Investors are also keenly looking at the implementation of the Unique ID program which would go a long way in helping plug leakages in the system with the ultimate aim of reducing the govt. subsidy burden. There is also an urgent need to kick-start modernization of agricultural supply chain linkages between farms & retail that would solve the storage logistics issues reducing the wastage and finally helping in control food inflation going forward. Most importantly, the government along-with RBI needs to create a favorable investment climate to liberate our consumption driven growth economy from the manufacturing inflation hurdle it often runs into. Over the short-to-medium-term, post the smart equity market rally witnessed on the bourses, Sensex is currently trading at fair valuations of 15.9x FY12e earnings which is near its long term average. Hence further upsides to the equity market looks capped due to Crude Oil price uncertainty. However, the direction of the market going forward will depend on the quality of Q4 corporate results, results of State elections in the country and finally crude oil movement on Middle East North African political developments.

Dec-10

Mar-11

Apr-10

Oct-10

Debt Market
10 Yr G-Sec yield 9.0 5 year AAA Corporate Bond Spread 175 150 8.0 125

Key Indices
10 year G-Sec 3 Year G-Sec

31-Mar-11
7.99% 7.69% 7.25% 7.55% 9.91% 7.16% 8.31%

28-Feb-11
8.02% 7.67% 7.10% 7.60% 8.42% 6.57% 8.20%

% Change
-0.32% 0.22% 2.11% -0.66% 17.70% 8.98% 1.34%

percentage

75 6.0 50 5.0
Feb-10 Aug-10 Sep-10 Nov-10 Dec-10 May-10 Feb-11 Apr-10 Jun-10 Oct-10 Mar-10 Jan-11 Jul-10 Mar-11

bps

7.0

100

91 Day T Bill 364 day T-Bill MIBOR Call Rates Inflation

25

Asian economies are expected to be the torchbearers of growth in the coming year due to better fundamentals. Presently, we are in, as the IMF calls, a 'Two Speed Recovery Process'. Advanced economies are either growing slowly or stagnating, with unsustainable debt levels and persistently high unemployment. Developing economies, on the other hand, are experiencing strong growth, as they continue to invest in their own infrastructure, grow exports and start to see increased levels of consumption from the hundreds of millions that they pull out of poverty every year. We have also witnessed China overtaking Japan as the world's second largest economy and the replacement of the old G7/G8 structure with the G20, bringing together the twenty most important economies from both the advanced and developing worlds. On the domestic inflation front, Food price inflation has begun to moderate. However, non-food inflation accelerated to 6.1% y-o-y in February from 4.8% in January this year. Oil prices are once again on a march led by excessive speculation & MENA civil unrest. Given such a backdrop, RBI hiked policy rates by 25bps in its mid-quarter review in March 2010. There has been substantial pick up in merchandise exports in the last 3-4 months which has helped reduce our trade deficit. With invisibles like software exports remaining resilient on global economic recovery, India has been able to contain the overall current account deficit within 3% of the GDP despite increased oil import bill on rising crude oil prices. GoI budgeted borrowing for FY12 stands at Rs. 4.17 Lakh Cr ($92.66 billion). The GoI will borrow Rs.2.5 Lakh Cr between April 1 to Sep 30 period which is 60% of FY12 borrowing, making enough room for private sector corporate to borrow in the second half which is a busy season for them.

Debt Outlook
We expect the headline WPI inflation In India to average at 8.1% in FY2011 on high food, oil and other commodity prices. We expect overall inflationary expectations to remain elevated due to rising business input costs, uncertainty over crude oil prices and the rising risk of second-round effects given capacity constraints and tight labour market. RBI will keep a close watch on the systemic liquidity and will keep the market in the deficit mode for some more time so as to get a hold on the rising inflationary trends as seen on the manufacturing front. Inflationary concern is also likely to trigger additional 50bps policy rate hikes in FY12. However, excessive tightening is unlikely as it will have an adverse impact on the economic growth. With the advent of new financial year we will see a new 10 year benchmark being issued which will set the pace for this years G-sec yields. We expect it to trader around 7.85% levels given the expectations of high demand. 10 Year AAA Corporate bond spreads are likely to rise from the present level of 95bps to 125bps as new issuances of bonds starts coming in and increased activity in new G-Sec benchmark.

Learning Curve
UNDERSTANDING PRIMARY EQUITY MARKET OFFERINGS IN DETAIL

In our earlier edition, we had mentioned in brief different types of Primary Issuances such as Initial Public Offer (IPO), Follow -on Public Offer (FPO), Rights Issue, etc. In this issue our focus is to understand the mechanism of an IPO. IPOs are referred to as flotation, which an issuer or a company proposes to the public in the form of ordinary stock or shares. Prior to floating an IPO, the company has to file certain documents with SEBI. These can vary from one to another and are known as: Draft Offer document - it is the offer document in draft stage which is filed with SEBI, atleast 21 days prior to the filing of the Offer Document with ROC/ SEs. Offer document - The offer document filed thereafter with ROC is called a prospectus which covers all the relevant information with respect to the companys business, fundamentals and financials along with risk factors to help an investor to make his investment decision. Red Herring Prospectus it is a prospectus, which does not have details of either price or number of shares being offered, or the amount of issue. Abridged Prospectus means the memorandum and contains all the salient features of a prospectus. It accompanies the application form of public issues. Pricing The issuer company in consultation with Merchant Banker shall decide the price. SEBI does not play any role in price fixation. The company and merchant banker are, however, required to give full disclosures of the parameters which they had considered while deciding the issue price. There are two types of issues one where company and Lead Manager fix a price (called fixed price) and other, where the company and Lead Manager stipulate a floor price or a price band and leave it to market forces to determine the final price (price discovery through book building process). The Issuer company can mention a price band of 20% (cap in the price band should not be more than 20% of the floor price) in the Draft o ffer documents filed with SEBI and actual price can be determined at a later date before filing of the final offer document with SEBI / ROCs. Pricing of an issue where one category is offered shares at a price different from the other category is called differential pricing which is allowed only if the net offer to the retail public is made at a lower price than the firm allotment category. Book building method provides an opportunity to the market to discover price for securities. The applicants bid for the shares quoting the price and the quantity that they would like to bid at. Only the retail investors have the option of bidding at cut-off. After the bidding process is complete, the cut-off price is arrived at on the lines of Dutch auction. The basis of Allotment is then finalized and letters allotment/refund is undertaken. The final prospectus with all the details including the final issue price and the issue size is filed with ROC, thus completing the issue process.

The subscription list for public issues shall be kept open for at least 3 working days and not more than 10 working days. In case of Book built issues, the minimum and maximum period for which bidding will be open is 37 working days extendable by 3 days in case of a revision in the price band. The public issue made by an infrastructure company, satisfying the requirements in Clause 2.4.1 (iii) of Chapter II may be kept open for a maximum period of 21 working days. Lock-in indicates a freeze on the shares. SEBI (DIP) Guidelines have stipulated lock-in requirements on shares of promoters mainly to ensure that the promoters or main persons, who are controlling the company, shall continue to hold some minimum percentage in the company after the public issue. Basis of Allotment After the closure of the issue, the bids received are aggregated under different categories i.e., firm allotment, Qualified Institutional Buyers (QIBs), Non-Institutional Buyers (NIBs), Retail, etc. The oversubscription ratios are then calculated for each of the categories as against the shares reserved for each of the categories in the offer document. Within each of these categories, the bids are then segregated into different buckets based on the number of shares applied for. The oversubscription ratio i then applied to the number of shares s applied for and the number of shares to be allotted for applicants in each of the buckets is determined. Then, the number of successful allottees is determined. This process is followed in case of proportionate allotment The allotment to the QIBs is on a discretionary basis and the discretion is left to the Merchant Bankers who first disclose the parameters of judgment in the Red Herring Prospectus. In case of fixed price issues, the investor is intimated about the CAN/Refund order within 30 days of the closure of the issue. In case of book built issues, the basis of allotment is finalized by the Book Running lead Managers within 2 weeks from the date of closure of the issue. The registrar then ensures that the demat credit or refund as applicable is completed within 15 days of the closure of the issue. The listing on the stock exchanges is done within 7 days from the finalization of the issue. Who is eligible for reservation and how much? (QIBs, NIIs, etc) In a bo ok building issue, allocation to Retail Individual Investors (RIIs), Non Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) are in the ratio of 35:15:50 respectively. In case the book built issues are made pursuant to the requirement of mandatory allocation of 60% to QIBs, respective figures are 30% for RIIs and 10% for NIIs. Listing of an IPO The listing on the stock exchanges is done within 7 days from the finalization of the issue. Ideally, it would be around 3 weeks after the closure of the book built issue. In case of fixed price issue, it would be around 37 days after closure of the issue. Indian companies mopped up a whopping $8.3 billion through initial public offers (IPOs) in 2010, fourth largest in the world. Given the under-penetration of financial market, IPO remain one of the key sources of funding for Indian corporate.

Arpita Nanoti Head Investment Communication & Advisory

FUND PERFORMANCE AS ON 31ST MARCH 2011

INDIVIDUAL Inception Date Assure 12-Sep-05 Fund Return Income Advantage 22-Aug-08 Fund Return BM Protector 22-Mar-01 Fund Return Builder 22-Mar-01 Fund Return

BM

BM

BM

Last 1 year Last 2 years Last 3 years Since Inception Asset Held (Rs. In Million)
INDIVIDUAL Inception Date

5.81% 7.81% 10.53% 9.28%

3.94% 4.32% 5.72% -

7.16% 8.61% 13.64%

3.88% -

5.70% 9.97% 9.44% 8.51%

4.31% 7.22% 5.27% -

6.26% 14.46% 11.03% 10.87%

4.72% 10.42% 5.70% -

1575
Balancer 18-Jul-05 Fund Return

2530
Enhancer 22-Mar-01 Fund Return

4057
Creator 23-Feb-04 Fund Return

2765
Magnifier 12-Aug-04 Fund Return

BM

BM

BM

BM

Last 1 year Last 2 years Last 3 years Since Inception Asset Held (Rs. In Million)
INDIVIDUAL Inception Date

6.49% 15.58% 12.60% 10.93%

4.65% 11.78% 5.72% -

6.73% 17.10% 9.95% 13.03%

4.84% 13.40% 5.02% -

7.17% 27.55% 15.52% 14.94%

5.54% 19.95% 6.22% -

8.21% 37.55% 8.40% 17.17%

6.75% 33.33% 6.11% -

287
Maximiser 12-Jun-07 Fund Return

60810
Multipler 30-Oct-07 Fund Return

3135
Super 20 6-Jul-09 Fund Return

12988

BM

BM

BM

Last 1 year Last 2 years Last 3 years Since Inception Asset Held (Rs. In Million)
INDIVIDUAL Inception Date

7.03% 43.03% 11.50% 11.45%

6.86% 36.84% 5.85% 7.74%

2.14% 56.37% 14.39% 5.03%

3.13% 45.86% 7.15% 1.59%

13.48% 21.28%

8.98% 17.39%

28799
Platinum Plus I 17-Mar-08 Fund Return BM

4583
Platinum Plus II 8-Sep-08 Fund Return BM

1019
Platinum Plus III 15-May-09 Fund Return Platinum Plus IV 15-Sep-09 Fund Return BM

BM

Last 1 year Last 2 years Last 3 years Since Inception Asset Held (Rs. In Million)
INDIVIDUAL Inception Date

12.24% 32.31% 5.59% 6.98%

13.66% 39.21% 24.31%

12.29% 16.16%

14.55% 12.08%

5571
Platinum Premier 15-Feb-10 Fund Return BM

8002
Titanium I 16-Dec-09 Fund Return

6054
Titanium II 16-Mar-10 Fund Return

4230

BM

BM

Last 1 year Last 2 years Last 3 years Since Inception Asset Held (Rs. In Million)
PENSION Inception Date

12.12% 14.67%

12.08% 11.31%

10.99% 10.84%

4035
Nourish 12-Mar-03 Fund Return

378
Growth 18-Mar-03 Fund Return

146
Enrich 12-Mar-03 Fund Return

BM

BM

BM

Last 1 year Last 2 years Last 3 years Since Inception Asset Held (Rs. In Million) Fund Name Assure Income Advantage Protector Builder Balancer Enhancer Creator Magnifier Maximiser Multiplier Super 20 Pension Nourish Pension Growth Pension Enrich

5.28% 9.56% 10.26% 8.27%

4.31% 7.22% 5.27% -

5.87% 14.12% 13.09% 11.06%

4.72% 10.42% 5.70% -

6.58% 20.94% 12.90% 13.40%

5.02% 15.04% 6.03% -

135

369
Benchmark Composition Crisil Short Term Bond Index Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Liquid Fund Index BSE 100 Crisil Liquid Fund Index CNX Midcap Crisil Liquid Fund Index Sensex Crisil Liquid Fund Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index BSE 100 Crisil Composite Bond Index

1763

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

Assure Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
10.1% RELIANCE INDUSTRIES LTD. 2011 8.49% POWER FINANCE CORPN. LTD. 2011 9.8% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 7.35% HINDUSTAN PETROLEUM CORPN. LTD. 2012 10.8% EXPORT IMPORT BANK OF INDIA 2013 8.73% POWER GRID CORPN. OF INDIA LTD. 2011 11.3% A C C LTD. 2013 7.4% TATA CHEMICALS LTD. 2011 L I C HOUSING FINANCE LTD. 2011 9.8% POWER FINANCE CORPN. LTD. 2012 OTHER CORPORATE DEBT

HOLDING 0.00% 66.23%

6.36% 5.74% 2012 4.77% 4.28% 3.90% 3.79% 2.65% 2.51% 2.48% 2.39% 27.36%

About the Fund Objective: To provide Capital Protection, at a high level of safety and liquidity through judicious investments in high quality short-term debt. Strategy: Generate better return with low level of risk through investment into fixed interest securities having short-term maturity profile.

Asset Allocation

MMI 33.77%

NCD 66.23%

SECURITISED DEBT

0.00%

MMI

33.77%

Rating Profile
Sovereign 4.53% AAA 53.94% P1+/A1+ 23.79% AA2.39% AA 5.50%

Assure

BM

AA+ 9.85%

Nov-08

Nov-09

Nov-10

Maturity Profile
Mar-11

Jul-08

Jul-09

Mar-08

Mar-09

Mar-10

Jul-10

91.03%

8.97%

Less than 2 years

2 to 7years

Income Advantage Fund

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
8.08% GOVERNMENT OF INDIA 2022 7.99% GOVERNMENT OF INDIA 2017 7.59% GOVERNMENT OF INDIA 2016 7.46% GOVERNMENT OF INDIA 2017 8.2% GOVERNMENT OF INDIA 2022 8.32% GOVERNMENT OF INDIA 2032 8.28% GOVERNMENT OF INDIA 2032 7.17% GOVERNMENT OF INDIA 2015 6.07% GOVERNMENT OF INDIA 2014 8.35% GOVERNMENT OF INDIA 2022 OTHER GOVERNMENT SECURITIES

HOLDING 24.08%
3.20% 2.97% 1.94% 1.93% 1.79% 1.77% 1.76% 1.62% 1.60% 1.20% 4.32%

About the Fund Objective: To provide capital preservation and regular income, at a high level of safety over a medium term horizon by investing in high quality debt instruments Strategy: To actively manage the fund by building a portfolio of fixed income instruments with medium term duration. The fund will invest in government securities, high rated corporate bonds, high quality money market instruments and other fixed income securities. The quality of the assets purchased would aim to minimize the credit risk and liquidity risk of the portfolio. The fund will maintain reasonable level of liquidity.

Asset Allocation

CORPORATE DEBT
9.95% STATE BANK OF INDIA 2026 7.45% TATA SONS LTD. 2012 11.4% POWER FINANCE CORPN. LTD. 2013 9.75% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2016 8.9% POWER GRID CORPN. OF INDIA LTD. 2014 8.9% STEEL AUTHORITY OF INDIA LTD. 2019 L I C HOUSING FINANCE LTD. 2011 11.5% RURAL ELECTRIFICATION CORPN. LTD. 2013 8.48% L I C HOUSING FINANCE LTD. 2013 9.9% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2014 OTHER CORPORATE DEBT

49.01%
4.76% 2.32% 2.07% 2.01% 1.95% 1.95% 1.93% 1.86% 1.84% 1.80% 26.51% MMI 26.91% NCD 49.01% G-Secs 24.08%

Rating Profile

MMI

26.91%
AAA 44.15%

Sovereign 27.88% AA 2.72% AA5.78%

P1+/A1+ 19.46%

Income Advantage

BM

Maturity Profile

35.61%

34.80% 29.59%

Nov-09

Nov-10

Jul-09

Jan-10

Jun-10

Jul-10

Oct-09

Aug-09

Sep-09

Dec-09

Feb-10

Aug-10

May-10

Sep-10

Mar-10

Oct-10

Jan-11

Apr-10

Dec-10

Feb-11

Mar-11

Less than 2 years

2 to 7years

7years & above

Protector Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.17% GOVERNMENT OF INDIA 2015 6.35% GOVERNMENT OF INDIA 2020 11.5% GOVERNMENT OF INDIA 2015 7.44% GOVERNMENT OF INDIA 2012 6.9% GOVERNMENT OF INDIA 2019 7.5% GOVERNMENT OF INDIA 2034 8.24% GOVERNMENT OF INDIA 2027 8.2% GOVERNMENT OF INDIA 2022 7.95% GOVERNMENT OF INDIA 2032 7.59% GOVERNMENT OF INDIA 2015 OTHER GOVERNMENT SECURITIES

HOLDING 26.62%
3.60% 3.16% 2.76% 2.32% 2.29% 2.29% 1.78% 1.73% 1.52% 1.45% 3.71%

About the Fund Objective: To generate persistent return through active management of fixed income portfolio and focus on creating long-term equity portfolio, which will enhance yield of composite portfolio with minimum risk appetite. Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% at low level of risk. This fund is suitable for those who want to protect their capital and earn steady return on investment through higher exposure to debt securities.

Asset Allocation
Equities 9.40% NCD 48.86%

CORPORATE DEBT
8.55% L I C HOUSING FINANCE LTD. 2011 8.6% POWER FINANCE CORPN. LTD. 2014 10.85% RURAL ELECTRIFICATION CORPN. LTD. 2018 11.45% RELIANCE INDUSTRIES LTD. 2013 8.75% INDIAN RAILWAY FINANCE CORPN. LTD. 2013 8.9% STEEL AUTHORITY OF INDIA LTD. 2019 8.64% POWER GRID CORPN. OF INDIA LTD. 2014 11.75% RURAL ELECTRIFICATION CORPN. LTD. 2011 8.8% POWER GRID CORPN. OF INDIA LTD. 2013 9.45% RURAL ELECTRIFICATION CORPN. LTD. 2013 OTHER CORPORATE DEBT

48.86%
3.21% 3.14% 2.95% 2.51% 2.44% 1.94% 1.93% 1.84% 1.82% 1.80% 25.27%

MMI 15.13%

G-Secs 26.62%

Rating Profile

AA+ 1.46% AAA 53.73%

AA 3.28%

P1+/A1+ 8.61%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA H D F C BANK LTD. OIL AND NATURAL GAS CORPN. LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

9.40%
0.82% 0.63% 0.54% 0.51% 0.42% 0.34% 0.32% 0.30% 0.28% 0.26% 4.99%

Sovereign 32.92%

Sectoral Allocation

MMI
Prote ctor BM

15.13%

BANKING OIL AND GAS SOFTWARE / IT CAPITAL GOODS METAL FMCG PHARMACEUTICALS

20.14% 14.82% 11.17% 10.72% 8.05% 6.46% 5.88% 5.38% 4.85% 4.21% 3.23% 2.02% 1.71% 1.35%

Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11

AUTOMOBILE FINANCIAL SERVICES OTHERS POWER GENERATION AND SUPPLY CEMENT TELECOMMUNICATION

Maturity Profile
35.69% 38.09% 26.22%

Less than 2 years

2 to 7years

7years & above

CONSTRUCTION

Builder Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
8.2% GOVERNMENT OF INDIA 2022 7.8% GOVERNMENT OF INDIA 2020 6.35% GOVERNMENT OF INDIA 2020 7.44% GOVERNMENT OF INDIA 2012 6.9% GOVERNMENT OF INDIA 2019 8.26% GOVERNMENT OF INDIA 2027 7.95% GOVERNMENT OF INDIA 2032 8.3% GOVERNMENT OF INDIA 2040 7.59% GOVERNMENT OF INDIA 2015 5.69% GOVERNMENT OF INDIA 2018 OTHER GOVERNMENT SECURITIES

HOLDING 21.58%
4.36% 3.57% 2.26% 2.09% 1.68% 1.44% 1.39% 1.17% 1.06% 0.94% 1.62%

About the Fund Objective: To build your capital and generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt. Strategy: Generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.

Asset Allocation
MMI 10.56% NCD 48.49% Equities 19.37%

CORPORATE DEBT
11.45% RELIANCE INDUSTRIES LTD. 2013 8.65% RURAL ELECTRIFICATION CORPN. LTD. 2019 8.75% INDIAN RAILWAY FINANCE CORPN. LTD. 2013 8.6% POWER FINANCE CORPN. LTD. 2014 9.76% INDIAN RAILWAY FINANCE CORPN. LTD. 2012 8.85% TATA SONS LTD. 2016 10.25% TECH MAHINDRA LTD. 2014 8.55% L I C HOUSING FINANCE LTD. 2011 8.5% INDIAN RAILWAY FINANCE CORPN. LTD. 2020 10% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT OTHER CORPORATE DEBT

48.49%
5.01% 3.87% 3.85% 2.83% 2.73% 2.34% 2.22% 2.07% 1.86% 2012 1.82% 19.89%

G-Secs 21.58%

Rating Profile
P1+/A1+ 6.87%

AA+ 3.07% AA 1.91%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA OIL AND NATURAL GAS CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. OTHER EQUITY

19.37%
1.67% 1.32% 1.16% 0.97% 0.85% 0.62% 0.61% 0.59% 0.57% 0.54% 10.47%

Sovereign 28.90%

AAA 59.25%

Sectoral Allocation

BANKING

19.49% 14.56% 12.88% 11.33% 7.31% 6.03% 5.82% 5.26% 4.67% 4.02% 3.64% 1.99% 1.66% 1.35%

MMI
Builder BM

10.56%

OIL AND GAS

CAPITAL GOODS

SOFTWARE / IT

METAL

FMCG

PHARMACEUTICALS

Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11

AUTOMOBILE

FINANCIAL SERVICES

Maturity Profile
34.30% 29.95% 35.75%

OTHERS POWER GENERATION AND SUPPLY CEMENT

TELECOMMUNICATION

Less than 2 years

2 to 7years

7years & above

CONSTRUCTION

Balancer Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.8% GOVERNMENT OF INDIA 2020 7.95% GOVERNMENT OF INDIA 2032 5.64% GOVERNMENT OF INDIA 2019 7.44% GOVERNMENT OF INDIA 2012 7.46% GOVERNMENT OF INDIA 2017 6.9% GOVERNMENT OF INDIA 2019 7% GOVERNMENT OF INDIA 2022 7.99% GOVERNMENT OF INDIA 2017 8.08% GOVERNMENT OF INDIA 2022

HOLDING 20.27%
3.26% 3.01% 2.86% 2.61% 2.55% 1.62% 1.58% 1.40% 1.39%

About the Fund Objective: To achieve value creation of the policyholder at an average risk level over medium to long-term period. Strategy: To invest predominantly in debt securities with an additional exposure to equity, maintaining medium term duration profile of the portfolio.

Asset Allocation
MMI 12.46%

NCD 45.29%

G-Secs 20.27%

CORPORATE DEBT

45.29%

6.77% NATIONAL HOUSING BANK 2013 6.83% 10.9% RURAL ELECTRIFICATION CORPN. LTD. 2013 4.48% 3.55% 10.05% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2014 3.48% 9.45% L I C HOUSING FINANCE LTD. 2012 3.28% 7.05% CANARA BANK 2014 2.67% 9.47% POWER GRID CORPN. OF INDIA LTD. 2022 8.49% POWER FINANCE CORPN. LTD. 2011 2.27% 11.45% RELIANCE INDUSTRIES LTD. 2013 1.82% 11.4% POWER FINANCE CORPN. LTD. 2013 1.82% 11.3% A C C LTD. 2013 1.82% OTHER CORPORATE DEBT 13.27%

Equities 21.98%

Rating Profile

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. STATE BANK OF INDIA LARSEN AND TOUBRO LTD. OIL AND NATURAL GAS CORPN. LTD. I C I C I BANK LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

21.98%
1.87% 1.52% 1.29% 1.06% 1.00% 0.93% 0.89% 0.83% 0.81% 0.74% 11.01%
BANKING

AA+ 1.91% Sovereign 31.17% AAA 66.92%

Sectoral Allocation
17.18% 16.08% 11.25% 10.73% 10.35% 7.18% 6.39% 6.10% 4.67% 3.76% 3.10% 2.04% 1.16%

MMI
Balancer BM

12.46%
OIL AND GAS

CAPITAL GOODS

METAL

SOFTWARE / IT

FMCG

AUTOMOBILE

Nov-08

Nov-09

Mar-08

Mar-09

Mar-10

Nov-10

Jul-08

Jul-09

Jul-10

Mar-11

FINANCIAL SERVICES POWER GENERATION AND SUPPLY PHARMACEUTICALS

Maturity Profile
43.19% 29.64% 27.18%

TELECOMMUNICATION

OTHERS MEDIA AND ENTERTAINMENT

Less than 2 years

2 to 7years

7years & above

Enhancer Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
6.9% GOVERNMENT OF INDIA 2019 8.2% GOVERNMENT OF INDIA 2022 6.35% GOVERNMENT OF INDIA 2020 7.95% GOVERNMENT OF INDIA 2032 7.8% GOVERNMENT OF INDIA 2020 8.26% GOVERNMENT OF INDIA 2027 7.94% GOVERNMENT OF INDIA 2021 7.46% GOVERNMENT OF INDIA 2017 8.24% GOVERNMENT OF INDIA 2027 7.5% GOVERNMENT OF INDIA 2034 OTHER GOVERNMENT SECURITIES

HOLDING 19.87%
4.22% 2.29% 2.10% 1.24% 1.17% 0.92% 0.80% 0.65% 0.57% 0.54% 5.36%

About the Fund Objective: To grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.

Asset Allocation
SECURITISED DEBT 0.37% MMI 13.02% G-Secs 19.87%

NCD 38.87%

CORPORATE DEBT
10.75% RELIANCE INDUSTRIES LTD. 2018 10.2% TATA STEEL LTD. 2015 9.05% STATE BANK OF INDIA 2020 7.45% TATA SONS LTD. 2012 10.25% TECH MAHINDRA LTD. 2014 9.8% L I C HOUSING FINANCE LTD. 2017 11.45% RELIANCE INDUSTRIES LTD. 2013 8.55% INDIAN RAILWAY FINANCE CORPN. LTD. 2019 9.1% STATE BANK OF MYSORE 2019 10.85% PUNJAB NATIONAL BANK 2023 OTHER CORPORATE DEBT

38.87%
0.97% 0.83% 0.77% 0.68% 0.61% 0.54% 0.52% 0.51% 0.49% 0.48% 32.46% Equities 27.87%

Rating Profile
AA2.84% Sovereign 29.60% AA 4.26%

AA+ 8.26% P1+/A1+ 12.80%

SECURITISED DEBT

0.37%
AAA 42.23%

INDIA STRUCTURED ASSET TRUST-Series XII Class A11 PTC (MD 15/04/2015) 0.37%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OIL AND NATURAL GAS CORPN. LTD. OTHER EQUITY

27.87%
2.36% 1.84% 1.64% 1.34% 1.08% 0.98% 0.89% 0.83% 0.82% 0.80% 15.27%

Sectoral Allocation
BANKING OIL AND GAS SOFTWARE / IT CAPITAL GOODS METAL PHARMACEUTICALS FMCG FINANCIAL SERVICES AUTOMOBILE CEMENT
D c-1 e 0

20.78% 13.61% 11.16% 9.45% 8.37% 7.12% 5.83% 5.81% 4.74% 3.26% 2.77% 2.55% 1.76% 1.44% 1.34%

MMI
Enhance r BM

13.02%

Ju -0 n 4

Ju -0 n 5

Ju -0 n 6

Ju -0 n 7

Ju -0 n 8

Ju -0 n 9

D c-0 e 4

D c-0 e 5

D c-0 e 6

D c-0 e 7

D c-0 e 8

D c-0 e 9

Se -0 p 4

Se -0 p 5

Se -0 p 6

Se -0 p 7

Se -0 p 8

Se -0 p 9

Ju -1 n 0

Se -1 p 0

M r-0 a 5

M r-0 a 6

M r-0 a 7

M r-0 a 8

M r-0 a 9

M r-1 a 0

M r-1 a 1

TELECOMMUNICATION POWER GENERATION AND SUPPLY

Maturity Profile
35.70% 23.98% 40.33%

OTHERS AGRI RELATED MEDIA AND ENTERTAINMENT

Less than 2 years

2 to 7years

7years & above

Creator Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.59% GOVERNMENT OF INDIA 2016 8.26% GOVERNMENT OF INDIA 2027 8.24% GOVERNMENT OF INDIA 2027 7.99% GOVERNMENT OF INDIA 2017 5.64% GOVERNMENT OF INDIA 2019 8.2% GOVERNMENT OF INDIA 2022 12.3% GOVERNMENT OF INDIA 2016 6.35% GOVERNMENT OF INDIA 2020 8.32% GOVERNMENT OF INDIA 2032 7.8% GOVERNMENT OF INDIA 2020 OTHER GOVERNMENT SECURITIES

HOLDING 12.87%
2.10% 1.58% 1.29% 1.06% 0.85% 0.80% 0.75% 0.71% 0.63% 0.63% 2.45%

About the Fund Objective: To achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. Strategy: To ensure capital appreciation by simultaneously investing into fixed income securities and maintaining diversified equity portfolio. Active fund management is carried out to enhance policyholders wealth in long run.

Asset Allocation

MMI 12.39% Equities 48.08%

G-Secs 12.87%

CORPORATE DEBT

26.65%

8.6% POWER FINANCE CORPN. LTD. 2014 3.43% 11.45% RELIANCE INDUSTRIES LTD. 2013 1.66% 10.1% POWER GRID CORPN. OF INDIA LTD. 2013 1.61% 9.47% POWER GRID CORPN. OF INDIA LTD. 2013 1.59% 9.5% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2012 1.59% 7.4% TATA CHEMICALS LTD. 2011 1.57% 8.45% INDIAN RAILWAY FINANCE CORPN. LTD. 2018 1.55% 8.9% STEEL AUTHORITY OF INDIA LTD. 2019 1.41% 11.4% POWER FINANCE CORPN. LTD. 2013 1.17% 8.75% INDIAN RAILWAY FINANCE CORPN. LTD. 2013 1.11% OTHER CORPORATE DEBT 9.95%

NCD 26.65%

Rating Profile
AA 1.40% AA3.27%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA BHARAT HEAVY ELECTRICALS LTD. OIL AND NATURAL GAS CORPN. LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. OTHER EQUITY

48.08%
4.21% 3.44% 2.51% 2.22% 2.06% 1.73% 1.46% 1.44% 1.30% 1.25% 26.48%

Sovereign 30.02%

AA+ 6.74% P1+/A1+ 11.73%

AAA 46.84%

Sectoral Allocation

MMI

12.39%

Creator

BM

BANKING OIL AND GAS CAPITAL GOODS SOFTWARE / IT PHARMACEUTICALS METAL

20.22% 13.67% 12.54% 10.10% 7.64% 6.12% 5.66% 5.44% 5.32% 4.06% 2.13% 1.95% 1.39% 1.36% 1.35% 1.03%

Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11

FMCG AUTOMOBILE FINANCIAL SERVICES OTHERS

Maturity Profile
34.74% 38.53%

CEMENT POWER GENERATION AND SUPPLY DIVERSIFIED

26.74%

TELECOMMUNICATION AGRI RELATED

Less than 2 years 2 to 7years 7years & above

MEDIA AND ENTERTAINMENT

Magnifier Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
9.25% DR. REDDYS LABORATORIES LTD. 2014

About the Fund Objective: To maximize wealth by actively managing a diversified equity portfolio. HOLDING 0.00% 0.03%
0.03%

Strategy: To invest in high quality equity security to provide long-term capital appreciation with high level of risk. This fund is suitable for those who want to have wealth maximization over longterm period with equity market dynamics.

Asset Allocation
NCD 0.03%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA BHARAT HEAVY ELECTRICALS LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. OIL AND NATURAL GAS CORPN. LTD. H D F C BANK LTD. OTHER EQUITY

86.87%
7.43% 6.06% 4.51% 3.81% 3.71% 3.09% 2.60% 2.33% 2.32% 2.24% 48.75%

MMI 13.10%

Equities 86.87%

MMI

13.10%

Rating Profile
Sovereign 11.20% AA+ 0.24%

Magnifier

BM

P1+/A1+ 88.57%

Nov-08

Nov-09

Mar-08

Mar-09

Mar-10

Nov-10

Jul-08

Jul-09

Jul-10

Mar-11

Sectoral Allocation
BANKING OIL AND GAS CAPITAL GOODS SOFTWARE / IT PHARMACEUTICALS METAL FINANCIAL SERVICES FMCG AUTOMOBILE OTHERS CEMENT POWER GENERATION AND DIVERSIFIED TELECOMMUNICATION AGRI RELATED MEDIA AND ENTERTAINMENT

20.45% 13.15% 12.56% 9.91% 8.02% 6.18% 5.73% 5.40% 5.38% 3.86% 2.16% 2.01% 1.50% 1.35% 1.33% 1.01%

Maximiser Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
9.25% DR. REDDYS LABORATORIES LTD. 2014

HOLDING 0.00% 0.03%

0.03%

About the Fund Objective: To Provide long-term capital appreciation by actively managing a well diversified equity portfolio of fundamentally strong blue chip companies and provide a cushion against the volatility in the equities through investment in money market instruments. Strategy: Active Fund Management with potentially 100% equity exposure. Maintaining High Quality Diversified Portfolio with Dynamic blend of Growth and Value Stocks- so that portfolio doesnot suffer from style bias. Focus on large-caps and quality mid-caps to ensure liquidity and reduce risk.

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. LARSEN AND TOUBRO LTD. I T C LTD. BHARAT HEAVY ELECTRICALS LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. STATE BANK OF INDIA OIL AND NATURAL GAS CORPN. LTD. OTHER EQUITY

89.87%
6.77% 5.29% 4.00% 3.80% 3.23% 3.12% 2.78% 2.76% 2.50% 1.96% 53.66%

Asset Allocation
NCD 0.03% MMI 10.11%

Equities 89.87%

MMI

10.11%

Rating Profile
Maxim izer BM

P1+/A1+ 92.86%

Sovereign 6.10%

AA+ 1.03%

Sectoral Allocation
BANKING

19.22% 11.84% 10.99% 10.51% 8.50% 6.29% 6.10% 5.44% 5.36% 4.42% 2.56% 2.14% 1.93% 1.88% 1.64% 1.19%

Nov-08

Nov-09

Nov-07

Nov-10

Jul-08

Jul-09

Jan-09

Jan-10

Jul-10

Jan-08

Mar-09

Mar-10

Jan-11

Sep-08

Sep-09

May-08

May-09

May-10

Sep-07

Sep-10

Mar-08

Mar-11

CAPITAL GOODS OIL AND GAS SOFTWARE / IT METAL FINANCIAL SERVICES FMCG AUTOMOBILE PHARMACEUTICALS OTHERS CONSTRUCTION DIVERSIFIED AGRI RELATED TELECOMMUNICATION MEDIA AND ENTERTAINMENT FERTILISERS

Super 20 Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
9.25% DR. REDDYS LABORATORIES LTD. 2014

HOLDING 0.00% 0.05%

0.05%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. STATE BANK OF INDIA I T C LTD. LARSEN AND TOUBRO LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. BHARAT HEAVY ELECTRICALS LTD. H D F C BANK LTD. TATA CONSULTANCY SERVICES LTD. OTHER EQUITY

91.47%
10.64% 8.64% 6.99% 6.01% 5.77% 5.40% 5.03% 4.96% 4.46% 4.18% 29.40%

About the Fund Objective: To generate long-term capital appreciation for policyholders by making investments in fundamentally strong and liquid large cap companies. Strategy: To build and manage a concentrated equity portfolio of 20 fundamentally strong large cap stocks in terms of market capitalization by following an in-depth research-focused investment approach. The fund will attempt diversify across sectors and will invest in companies having financial strength, robust, efficient & visionary management & adequate market liquidity. It will adopt a disciplined and flexible approach towards investing with a focus on generating long-term capital appreciation. The non-equity portion of the fund will be invested in highly rated money market instruments and fixed deposits.

Asset Allocation
NCD 0.05%

MMI 8.48%

MMI

8.48%

Equities 91.47%

Super 20

BM

Sectoral Allocation

OIL AND GAS

19.09%

BANKING

19.08%

SOFTWARE / IT

14.01%

Nov-09

Nov-10

Jan-10

Jun-10

Oct-09

Dec-09

Oct-10

May-10

Dec-10

Feb-10

Jan-11

Jul-09

Jul-10

Aug-09

Sep-09

Aug-10

Sep-10

Feb-11

Mar-10

Apr-10

Mar-11

CAPITAL GOODS

11.33%

AUTOMOBILE

9.12%

FINANCIAL SERVICES

8.06%

PHARMACEUTICALS

7.44%

FMCG

6.31%

POWER GENERATION AND SUPPLY

3.11%

METAL

2.46%

Multiplier Fund
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT HOLDING 0.00% 0.00% About the Fund Objective: To provide long-term wealth maximisation by actively managing a well-diversified equity portfolio, predominantly comprising of companies whose market capitalization is between Rs. 10 billion to Rs.250 billion. Further, the fund would also seek to provide a cushion against the sudden volatility in the equities through some investments in short-term money market instruments Strategy: Active Fund Management with potentially 100% equity Exposure Research based investment approach with a dedicated & experienced in-house research team. Identify undervalued Stocks in the growth phase. Focus on niche players with competitive advantage, in the sunrise industry & potential of being tomorrows large cap. Emphasis on early identification of stocks.

EQUITY
ULTRATECH CEMENT LTD. ASIAN PAINTS LTD. LUPIN LTD. UNION BANK OF INDIA YES BANK LTD. UNITED PHOSPHORUS LTD. CROMPTON GREAVES LTD. INDRAPRASTHA GAS LTD. TATA CHEMICALS LTD. EXIDE INDUSTRIES LTD. OTHER EQUITY

87.51%
3.38% 3.17% 2.71% 2.61% 2.28% 2.15% 2.11% 1.91% 1.90% 1.86% 63.42%

Asset Allocation

Asset Allocation
MMI 12.49%

MMI

12.49%
Equities 87.51%

Multiplier

BM

Sectoral Allocation

BANKING PHARMACEUTICALS CAPITAL GOODS

17.81% 11.58% 8.08% 7.09% 6.78% 5.80% 4.35% 4.12% 4.02% 3.86% 3.54% 3.28% 3.22% 2.79% 2.77% 2.33% 2.05% 2.03% 1.83% 1.45% 1.20%

Nov-07

Nov-08

Nov-09

Nov-10

Jul-08

Jul-09

Jul-10

Mar-08

Mar-09

Mar-10

Mar-11

FMCG OIL AND GAS CEMENT FINANCIAL SERVICES SOFTWARE / IT AUTO ANCILLIARY AGRI RELATED CONSTRUCTION FERTILISERS POWER GENERATION AND SUPPLY DIVERSIFIED AUTOMOBILE HOTELS METAL SUGAR SHIPPING OTHERS INVESTMENT AND HOLDING

Platinum Plus Fund - 1

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES HOLDING 0.00% About the Fund Objective: To optimize the participation in an actively managed well diversified equity portfolio of fundamentally strong blue chip companies while using debt instruments & derivatives to lock-in capital appreciations Strategy: To have an optimum mix of equities & fixed income instruments, with up to 100% exposure in both equities & fixed income assets & up to 40% in Money Market

CORPORATE DEBT

3.00%

NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2017 2.98% 9.25% DR. REDDYS LABORATORIES LTD. 2014 0.03%

Asset Allocation

EQUITY
I C I C I BANK LTD. RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. TATA CONSULTANCY SERVICES LTD. OIL AND NATURAL GAS CORPN. LTD. H D F C BANK LTD. OTHER EQUITY

86.01%
6.41% 6.05% 6.04% 5.38% 4.70% 3.70% 3.19% 3.02% 2.88% 2.88% 41.75%

NCD 3.00%

MMI 10.99%

Equities 86.01%

MMI

10.99%

Sectoral Allocation

BANKING OIL AND GAS SOFTWARE / IT METAL CAPITAL GOODS FMCG FINANCIAL SERVICES AUTOMOBILE POWER GENERATION AND SUPPLY

19.50% 13.79% 12.29% 10.15% 9.72% 9.33% 6.07% 5.56% 3.84% 3.49% 2.56% 1.88% 1.81%

Maturity Profile
73.12%

PHARMACEUTICALS TELECOMMUNICATION CEMENT OTHERS

26.88%

Less than 2 years

7years & above

Platinum Plus Fund - 2

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.49% GOVERNMENT OF INDIA 2017

HOLDING 0.03%
0.03%

About the Fund Objective: To optimize the participation in an actively managed well diversified equity portfolio of fundamentally strong blue chip companies while using debt instruments & derivatives to lock-in capital appreciations: Strategy: To have an optimum mix of equities & fixed income instruments, with up to 100% exposure in both equities & fixed income assets & up to 40% in Money Market

CORPORATE DEBT

4.02%

2.32% NATIONAL HOUSING BANK 2019 RURAL ELECTRIFICATION CORPN. LTD. 2020 1.33% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2017 0.30% 11.5% RURAL ELECTRIFICATION CORPN. LTD. 2013 0.03% 9.25% DR. REDDYS LABORATORIES LTD. 2014 0.03%

Asset Allocation
NCD 4.02% G-Secs 0.03% MMI 8.48%

EQUITY
I C I C I BANK LTD. RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OIL AND NATURAL GAS CORPN. LTD. OTHER EQUITY

87.48%
6.56% 6.42% 6.35% 5.05% 4.87% 3.99% 3.59% 3.52% 3.25% 2.85% 41.03%

Equities 87.48%

Sectoral Allocation

MMI

8.48%

BANKING OIL AND GAS SOFTWARE / IT CAPITAL GOODS METAL FMCG FINANCIAL SERVICES AUTOMOBILE POWER GENERATION AND SUPPLY PHARMACEUTICALS TELECOMMUNICATION CEMENT AGRI RELATED OTHERS

19.99% 13.56% 11.75% 9.79% 9.06% 7.38% 6.41% 5.59% 4.82% 4.18% 3.07% 2.34% 1.41% 0.66%

Maturity Profile
61.96% 34.83% 3.21%
Less than 2 years 2 to 7years 7years & above

Platinum Plus Fund - 3

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
NATIONAL HOUSING BANK 2018 9.25% DR. REDDYS LABORATORIES LTD. 2014

HOLDING 0.00% 0.87%

0.84% 0.03%

About the Fund Objective: To optimize the participation in an actively managed well diversified equity portfolio of fundamentally strong blue chip companies while using debt instruments & derivatives to lock-in capital appreciations: Strategy: To have an optimum mix of equities & fixed income instruments, with up to 100% exposure in both equities & fixed income assets & up to 40% in Money Market

EQUITY
I C I C I BANK LTD. RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OIL AND NATURAL GAS CORPN. LTD. OTHER EQUITY

86.95%
6.50% 6.41% 6.31% 5.08% 4.83% 3.95% 3.60% 3.52% 3.28% 2.85% 40.62%

Asset Allocation
NCD 0.87%

MMI 12.19%

Equities 86.95%

MMI

12.19%

Sectoral Allocation
BANKING OIL AND GAS SOFTWARE / IT CAPITAL GOODS METAL FMCG FINANCIAL SERVICES AUTOMOBILE POWER GENERATION AND SUPPLY PHARMACEUTICALS TELECOMMUNICATION CEMENT AGRI RELATED OTHERS

20.05% 13.16% 11.91% 9.86% 9.11% 7.40% 6.46% 5.62% 4.84% 4.21% 3.05% 2.36% 1.42% 0.56%

Maturity Profile
76.49%

23.29% 0.23%
Less than 2 years 2 to 7years 7years & above

Platinum Plus Fund - 4

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT HOLDING 0.00% 2.42% Strategy: To have an optimum mix of equities & fixed income instruments, with up to 100% exposure in both equities & fixed income assets & up to 40% in Money Market About the Fund Objective: To optimize the participation in an actively managed well diversified equity portfolio of fundamentally strong blue chip companies while using debt instruments & derivatives to lock-in capital appreciations:

NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2019 2.39% 0.03% 9.25% DR. REDDYS LABORATORIES LTD. 2014

EQUITY
I C I C I BANK LTD. RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OIL AND NATURAL GAS CORPN. LTD. OTHER EQUITY

86.33%
6.50% 6.35% 6.34% 4.96% 4.83% 3.95% 3.52% 3.44% 3.12% 2.80% 40.51%

Asset Allocation
NCD 2.42% MMI 11.25%

Equities 86.33%

MMI

11.25%

Sectoral Allocation

BANKING OIL AND GAS SOFTWARE / IT CAPITAL GOODS METAL FMCG FINANCIAL SERVICES AUTOMOBILE POWER GENERATION PHARMACEUTICALS TELECOMMUNICATION CEMENT AGRI RELATED OTHERS 13.78% 11.96% 9.73% 9.17% 7.40% 6.41% 5.55% 4.69% 4.09% 3.06% 2.35% 1.43% 0.40%

19.97%

Maturity Profile
61.12% 38.67% 0.21% Less than 2 years 2 to 7years 7years & above

Platinum Premier Fund

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
9.25% DR. REDDYS LABORATORIES LTD. 2014

HOLDING 0.00% 0.03%

0.03%

About the Fund Objective: To optimize the participation in an actively managed well diversified equity portfolio of fundamentally strong blue chip companies while using debt instruments & derivatives to lock-in capital appreciations: Strategy: To dynamically manage the allocation between equities and fixed income instruments, while using derivatives when necessary and for hedging purposes only. The equity investment strategy will revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue chip companies by following a researchfocused investment approach. On the fixed income side, investments will be made in government securities, high rated corporate bonds and money

EQUITY
INFOSYS TECHNOLOGIES LTD. RELIANCE INDUSTRIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. OIL AND NATURAL GAS CORPN. LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

86.82%
6.85% 6.55% 5.91% 5.11% 4.85% 3.95% 3.59% 3.54% 3.03% 2.89% 40.55%

Asset Allocation
NCD 0.03% MMI 13.15%

Equities 86.82%

MMI

13.15%

Sectoral Allocation
BANKING OIL AND GAS SOFTWARE / IT CAPITAL GOODS METAL FMCG FINANCIAL SERVICES POWER GENERATION AND AUTOMOBILE PHARMACEUTICALS TELECOMMUNICATION CEMENT AGRI RELATED OTHERS 14.14% 12.19% 9.76% 8.98% 8.24% 6.34% 5.74% 5.37% 3.61% 2.70% 2.08% 1.38% 0.57% 18.91%

Maturity Profile
93.30%

0.13% Less than 2 years 2 to 7years

6.57% 7years & above

Platinum Advantage Fund

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES CORPORATE DEBT
9.25% DR. REDDYS LABORATORIES LTD. 2014

HOLDING 0.00% 0.03%

0.03%

About the Fund Objective: To optimize the participation in an actively managed welldiversified equity portfolio of fundamentally strong blue chip companies while using debt instruments and derivatives to lock-in capital appreciations. The use of derivatives will be for hedging purposes only and as approved by the IRDA. Strategy: To dynamically manage the allocation between equities and fixed income instruments, while using derivatives when necessary and for hedging purposes only. The equity investment strategy will revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a researchfocused investment approach. On the fixed income side, investments will be made in government securities, high rated corporate bonds and money market instruments.

EQUITY
RELIANCE INDUSTRIES LTD. I C I C I BANK LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. STATE BANK OF INDIA H D F C BANK LTD. OIL AND NATURAL GAS CORPN. LTD. BHARTI AIRTEL LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

85.29%
6.56% 6.04% 5.83% 5.45% 4.21% 3.17% 3.10% 2.82% 2.76% 2.73% 42.62%

Asset Allocation
NCD 0.03% MMI 14.68%

MMI

14.68%

Equities 85.29%

Sectoral Allocation
BANKING OIL AND GAS SOFTWARE / IT METAL CAPITAL GOODS FMCG FINANCIAL SERVICES AUTOMOBILE POWER GENERATION AND SUPPLY PHARMACEUTICALS TELECOMMUNICATION CEMENT OTHERS 13.98% 10.81% 10.05% 9.32% 8.36% 6.76% 5.41% 5.03% 3.97% 3.23% 1.99% 1.38% 19.70%

Maturity Profile
99.85%

0.15% Less than 2 years 2 to 7years

Titanium Fund - 1
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.17% GOVERNMENT OF INDIA 2015 6.49% GOVERNMENT OF INDIA 2015

HOLDING 2.83%
1.55% 1.28%

About the Fund Objective: To optimize the participation in an actively managed welldiversified equity portfolio of fundamentally strong blue chip companies while using debt instruments and derivatives to ensure capital protection after five years. Strategy: To dynamically manage the allocation between equities and fixed income instruments, while using derivatives when necessary and for hedging purposes only. The equity investment strategy will revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a researchfocused investment approach. On the fixed income side, investments will be made in government securities, high rated corporate bonds and money market instruments.

CORPORATE DEBT

21.99%

10.05% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2014 10.78% 8.8% POWER GRID CORPN. OF INDIA LTD. 2014 4.56% 8.6% POWER FINANCE CORPN. LTD. 2014 3.93% 8.95% POWER FINANCE CORPN. LTD. 2015 2.70% 9.25% DR. REDDYS LABORATORIES LTD. 2014 0.02%

Asset Allocation
G-Secs 2.83% MMI 2.32% NCD 21.99%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. OIL AND NATURAL GAS CORPN. LTD. STATE BANK OF INDIA HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. I C I C I BANK LTD. OTHER EQUITY

72.87%
6.25% 5.84% 4.83% 3.67% 3.54% 3.33% 3.18% 3.14% 2.91% 2.75% 33.44%
BANKING

Equities 72.87%

Sectoral Allocation
15.79% 15.46% 11.42% 10.88% 10.81% 8.28% 7.46% 6.25% 6.06% 3.57% 2.49% 1.54%

MMI

2.32%
OIL AND GAS SOFTWARE / IT METAL CAPITAL GOODS FMCG AUTOMOBILE FINANCIAL SERVICES POWER GENERATION AND SUPPLY TELECOMMUNICATION PHARMACEUTICALS CEMENT

Maturity Profile
91.26%

8.74%
Less than 2 years 2 to 7years

Titanium Fund - 2
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
6.49% GOVERNMENT OF INDIA 2015 7.17% GOVERNMENT OF INDIA 2015

HOLDING 2.37%
1.37% 1.00%

About the Fund Objective: To optimize the participation in an actively managed welldiversified equity portfolio of fundamentally strong blue chip companies while using debt instruments and derivatives to ensure capital protection after five years. Strategy: To dynamically manage the allocation between equities and fixed income instruments, while using derivatives when necessary and for hedging purposes only. The equity investment strategy will revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a researchfocused investment approach. On the fixed income side, investments will be made in government securities, high rated corporate bonds and money market instruments.

CORPORATE DEBT

8.06%

8.6% POWER FINANCE CORPN. LTD. 2014 3.52% 10.05% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2014 2.57% 8.95% POWER FINANCE CORPN. LTD. 2015 1.97% 9.25% DR. REDDYS LABORATORIES LTD. 2014 0.01%

Asset Allocation
G-Secs 2.37% MMI 16.70% NCD 8.06%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. OIL AND NATURAL GAS CORPN. LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. POWER GRID CORPN. OF INDIA LTD. STATE BANK OF INDIA H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

72.87%
5.97% 5.88% 4.66% 3.73% 3.43% 3.41% 3.37% 3.33% 3.21% 2.97% 32.90%

Equities 72.87%

Sectoral Allocation
BANKING OIL AND GAS METAL SOFTWARE / IT CAPITAL GOODS POWER GENERATION AND SUPPLY FMCG AUTOMOBILE FINANCIAL SERVICES PHARMACEUTICALS TELECOMMUNICATION CEMENT

MMI

16.70%

15.80% 15.00% 12.72% 10.78% 9.95% 8.96% 8.71% 6.28% 5.40% 2.43% 2.39% 1.60%

Maturity Profile
70.66%

29.34%

Less than 2 years

2 to 7years

Titanium Fund - 3
Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
6.49% GOVERNMENT OF INDIA 2015 7.17% GOVERNMENT OF INDIA 2015

HOLDING 4.60%
2.52% 2.07%

About the Fund Objective: To optimize the participation in an actively managed welldiversified equity portfolio of fundamentally strong blue chip companies while using debt instruments and derivatives to ensure capital protection after five years. Strategy: To dynamically manage the allocation between equities and fixed income instruments, while using derivatives when necessary and for hedging purposes only. The equity investment strategy will revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a researchfocused investment approach. On the fixed income side, investments will be made in government securities, high rated corporate bonds and money market instruments.

CORPORATE DEBT
8.64% POWER GRID CORPN. OF INDIA LTD. 2015 8.95% POWER FINANCE CORPN. LTD. 2015 9.25% DR. REDDYS LABORATORIES LTD. 2014

13.84%
7.50% 6.32% 0.02%

Asset Allocation
EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I T C LTD. LARSEN AND TOUBRO LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. STATE BANK OF INDIA POWER GRID CORPN. OF INDIA LTD. H D F C BANK LTD. I C I C I BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

64.60%
5.27% 4.28% 3.92% 3.52% 3.29% 3.11% 3.09% 3.00% 2.85% 2.77% 29.50% G-Secs 4.60% MMI 16.97% NCD 13.84% Equities 64.60%

Sectoral Allocation
BANKING OIL AND GAS METAL SOFTWARE / IT CAPITAL GOODS FMCG POWER GENERATION AND SUPPLY AUTOMOBILE FINANCIAL SERVICES TELECOMMUNICATION PHARMACEUTICALS CEMENT

MMI

16.97%

16.01% 14.38% 13.85% 10.12% 9.73% 8.98% 8.94% 5.41% 5.09% 3.42% 2.58% 1.49%

Maturity Profile
56.39% 43.61%

Less than 2 years

2 to 7years

Pension Nourish Fund

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.59% GOVERNMENT OF INDIA 2016 8.2% GOVERNMENT OF INDIA 2022 6.35% GOVERNMENT OF INDIA 2020 7.95% GOVERNMENT OF INDIA 2032 7.46% GOVERNMENT OF INDIA 2017 7.8% GOVERNMENT OF INDIA 2020 5.64% GOVERNMENT OF INDIA 2019 6.05% GOVERNMENT OF INDIA 2019

HOLDING 20.89%
4.17% 3.71% 3.30% 2.83% 2.16% 1.83% 1.59% 1.30%

About the Fund Objective: To generate persistent return through active management of fixed income portfolio and focus on creating long-term equity portfolio, which will enhance yield of composite portfolio with minimum risk appetite. Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% at low level of risk. This fund is suitable for those who want to protect their capital and earn steady return on investment through higher exposure to debt securities.

Asset Allocation
MMI 11.21%

CORPORATE DEBT
11.45% RELIANCE INDUSTRIES LTD. 2013 9.4% POWER FINANCE CORPN. LTD. 2013 9.9% TATA SONS LTD. 2011 11.5% RURAL ELECTRIFICATION CORPN. LTD. 2013 7.6% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2017 10.48% ULTRATECH CEMENT LTD. 2013 11.75% RURAL ELECTRIFICATION CORPN. LTD. 2011 9.25% EXPORT IMPORT BANK OF INDIA 2012 8.8% POWER GRID CORPN. OF INDIA LTD. 2013 11.95% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2018 OTHER CORPORATE DEBT

58.60%
5.81% 5.53% 3.88% 3.87% 3.79% 3.79% 3.73% 3.68% 3.65% 2.55% 18.32%
Equities 9.30%

NCD 58.60%

G-Secs 20.89%

Rating Profile
AA+ 1.19% Sovereign 26.62% AA4.67%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. H D F C BANK LTD. STATE BANK OF INDIA OIL AND NATURAL GAS CORPN. LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

9.30%
0.80% 0.65% 0.52% 0.48% 0.42% 0.31% 0.30% 0.29% 0.27% 0.25% 5.02%

AAA 67.52%

Sectoral Allocation
BANKING OIL AND GAS

MMI
Nourish BM

11.21%

19.98% 14.67% 11.44% 10.83% 8.02% 6.17% 5.81% 5.08% 4.85% 3.65% 3.17% 2.23% 1.76% 1.33% 1.01%

SOFTWARE / IT CAPITAL GOODS METAL FMCG AUTOMOBILE PHARMACEUTICALS FINANCIAL SERVICES POWER GENERATION AND SUPPLY OTHERS
42.65% 31.17% 26.17%

Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11

Maturity Profile

CEMENT TELECOMMUNICATION CONSTRUCTION AGRI RELATED

Less than 2 years

2 to 7years

7years & above

Pension Growth Fund

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
7.8% GOVERNMENT OF INDIA 2020 7.44% GOVERNMENT OF INDIA 2012 6.35% GOVERNMENT OF INDIA 2020 7.95% GOVERNMENT OF INDIA 2032 7.59% GOVERNMENT OF INDIA 2016 7.46% GOVERNMENT OF INDIA 2017 8.08% GOVERNMENT OF INDIA 2022 5.64% GOVERNMENT OF INDIA 2019

HOLDING 18.60%
3.48% 3.13% 3.02% 2.99% 1.99% 1.85% 1.08% 1.05%

About the Fund Objective: To build your capital and generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt. Strategy: Generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.

Asset Allocation
MMI 16.18% NCD 46.31% G-Secs 18.60%

CORPORATE DEBT

46.31%

10.48% ULTRATECH CEMENT LTD. 2013 5.56% 8.8% POWER GRID CORPN. OF INDIA LTD. 2013 5.35% 7.75% RURAL ELECTRIFICATION CORPN. LTD. 2012 5.28% 11.5% RURAL ELECTRIFICATION CORPN. LTD. 2013 4.26% 11.95% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2018 3.11% 10.05% NATIONAL BANK FOR AGRI. AND RURAL DEVELOPMENT 2014 2.76% 2.72% 9.8% POWER FINANCE CORPN. LTD. 2012 10.75% RELIANCE INDUSTRIES LTD. 2018 2.70% 9.2% LARSEN AND TOUBRO LTD. 2012 2.70% 11.45% RELIANCE INDUSTRIES LTD. 2013 2.27% OTHER CORPORATE DEBT 9.62%

Equities 18.91%

Rating Profile
AA+ 2.15% P1+/A1+ 3.88%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. STATE BANK OF INDIA OIL AND NATURAL GAS CORPN. LTD. H D F C BANK LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

18.91%
1.62% 1.27% 1.17% 0.98% 0.83% 0.67% 0.60% 0.57% 0.56% 0.51% 10.14%

Sovereign 28.97% AAA 65.00%

Sectoral Allocation
BANKING OIL AND GAS CAPITAL GOODS SOFTWARE / IT METAL FMCG AUTOMOBILE FINANCIAL SERVICES

19.31% 14.44% 13.07% 10.72% 8.17% 6.18% 5.61% 5.41% 4.20% 4.13% 3.33% 2.09% 1.92% 1.41%

MMI
Pe ns ion Grow th BM

16.18%

Ju -0 n 4

Ju -0 n 5

Ju -0 n 6

Ju -0 n 7

Ju -0 n 8

Ju -0 n 9

Sp 4 e -0

D c-0 e 4

Sp 5 e -0

D c-0 e 5

Sp 6 e -0

D c-0 e 6

Sp 7 e -0

D c-0 e 7

Sp 8 e -0

D c-0 e 8

Sp 9 e -0

D c-0 e 9

Ju -1 n 0

Sp 0 e -1

D c-1 e 0

M r-0 a 5

M r-0 a 6

M r-0 a 7

M r-0 a 8

M r-0 a 9

M r-1 a 0

M r-1 a 1

PHARMACEUTICALS POWER GENERATION AND SUPPLY OTHERS

Maturity Profile
38.70% 37.51% 23.79%

CEMENT TELECOMMUNICATION

Less than 2 years

2 to 7years

7years & above

CONSTRUCTION

Pension Enrich Fund

Portfolio as on 31st March 2011
SECURITIES GOVERNMENT SECURITIES
8.2% GOVERNMENT OF INDIA 2022 7.8% GOVERNMENT OF INDIA 2020 7.44% GOVERNMENT OF INDIA 2012 7.46% GOVERNMENT OF INDIA 2017 6.35% GOVERNMENT OF INDIA 2020 8.35% GOVERNMENT OF INDIA 2022 7.95% GOVERNMENT OF INDIA 2032 6.07% GOVERNMENT OF INDIA 2014 5.64% GOVERNMENT OF INDIA 2019 7.99% GOVERNMENT OF INDIA 2017 OTHER GOVERNMENT SECURITIES

HOLDING 18.38%
3.42% 2.52% 2.18% 1.99% 1.78% 1.57% 1.36% 1.22% 0.78% 0.71% 0.84%

About the Fund Objective: To grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.

Asset Allocation
MMI 10.01% NCD 37.50% G-Secs 18.38%

CORPORATE DEBT
9.45% RURAL ELECTRIFICATION CORPN. LTD. 2013 9.47% POWER GRID CORPN. OF INDIA LTD. 2013 11.45% RELIANCE INDUSTRIES LTD. 2013 8.9% STEEL AUTHORITY OF INDIA LTD. 2019 11.5% RURAL ELECTRIFICATION CORPN. LTD. 2013 8.6% POWER FINANCE CORPN. LTD. 2014 10.25% TECH MAHINDRA LTD. 2014 9.47% POWER GRID CORPN. OF INDIA LTD. 2012 8.49% INDIAN RAILWAY FINANCE CORPN. LTD. 2014 9.22% POWER FINANCE CORPN. LTD. 2012 OTHER CORPORATE DEBT

37.50%
5.66% 3.97% 3.56% 2.79% 2.38% 1.80% 1.74% 1.70% 1.67% 1.64% 10.58% Equities 34.11%

Rating Profile
AA 1.88% P1+/A1+ 7.66%

AA+ 1.88%

EQUITY
RELIANCE INDUSTRIES LTD. INFOSYS TECHNOLOGIES LTD. I C I C I BANK LTD. I T C LTD. LARSEN AND TOUBRO LTD. HOUSING DEVELOPMENT FINANCE CORPN. LTD. H D F C BANK LTD. STATE BANK OF INDIA OIL AND NATURAL GAS CORPN. LTD. BHARAT HEAVY ELECTRICALS LTD. OTHER EQUITY

34.11%
2.92% 2.27% 2.06% 1.68% 1.44% 1.11% 1.10% 1.09% 1.09% 0.92% 18.43%

Sovereign 30.51%

AAA 58.06%

Sectoral Allocation

BANKING

19.81% 14.70% 12.63% 11.19% 7.29% 5.95% 5.25% 5.15% 4.88% 4.23% 3.89% 1.96% 1.70% 1.34%

MMI
Enrich BM

10.01%

OIL AND GAS CAPITAL GOODS SOFTWARE / IT METAL FMCG PHARMACEUTICALS

Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11

FINANCIAL SERVICES AUTOMOBILE OTHERS POWER GENERATION AND SUPPLY

Maturity Profile

40.32% 33.32% 26.36%

CEMENT TELECOMMUNICATION

Less than 2 years

2 to 7years

7years & above

CONSTRUCTION