FUND PHILOSOPHY

Contained headline inflation and slower growth is positive for fixed income market. It will not only help RBI to infuse necessary durable system liquidity but also opens up the possibility of further rate cuts. Global growth inflation dynamics also prompted other key central banks to maintain their growth supportive stance. All these factors are favourable for the domestic fixed income market. Hence, in the near term interest rate movement is likely to be range bound with softer bias. However, over the medium term, Government’s commitment towards fiscal deficit target, crude price movement, progress of monsoon and FII flows are likely to impact the market sentiment.

OVERVIEW OF MARKET

Post healthy 15% return in April, Nifty fell 3% in May amid rising number of Covid cases in the country, extension of lockdowns, escalating tension between the US and China and weak 4QFY20 results. In an effort to provide stimulus to the economy, the Prime Minister announced a Rs20 trn package while RBI cut the repo rate by 40 bps to 4%. Among the sectors, Auto, Infra and FMCG outperformed while BFSI underperformed the Nifty during the month. According to Bloomberg, during the month, FIIs turned net buyers to the tune of about Rs 130bn, while domestic mutual funds bought to the tune of around Rs 28bn.

Real GDP growth moderated to 3.1% in 4QFY20 from a downward revised print of 4.1% in 3QFY20. The Index of Industrial Production contracted sharply by 16.7% in March compared to growth of 4.6% in February. Monthly inflation data was not released as the price collection was suspended due to nationwide lockdown.

The Bond market rallied during the month. The 10 year benchmark G-Sec (6.45% GOI 2029) closed 11 bps lower at 6.00% as against 6.11% last month.

EQUITY

Global liquidity, improvement in economic activity post lifting of lockdown globally as well as nationally is likely to be supportive to markets. Government measures to support MSME by providing credit guarantee scheme, liquidity to NBFCs and subordinated debt for stressed MSME’s are expected to partially alleviate distress. Gradual recovery in economic activity is likely to be aided by tailwinds in the form of normalisation of supply chain, benign input costs, lower interest rates and moratorium on repayments. In light of the above, equity markets offer a good entry point to build a portfolio comprising of undervalued stocks with strong balance sheets, healthy cashflows, quality management, low leverage and high dividend yield.

FIXED INCOME

Inspite of the substantial increase in the Government borrowing programme, abundant system liquidity will continue to support market sentiment. Though RBI has substantially eased the policy rate, accommodative stance is likely to continue in the near future to support subdued economic activity. Moreover, Central Banks across the globe also indicated to maintain accommodative policy stance till such time there is economic revival. All these factors are very much supportive for the fixed income market sentiment over the near term. However, medium term trend is likely to be guided by Government borrowing programme, evolving demand supply dynamics, currency movement and FPI flows .

INVESTOR PHILOSOPHY

Provide customers with the best solutions & services

Vision
To be the preferred Life Insurer; to ensure Safety, Liquidity and Profitability of funds, encompassing integrity and transparency in its operations, with an overall objective to meet the Reasonable Expectations of Policyholders.

Objectives

  • To invest the funds in matching assets, to the extent possible, so as to meet the liabilities as and when due
  • To effectively manage the portfolio of investments to yield optimum return
  • To be compliant with all Regulatory norms and to follow prudent practices in operations
  • To carry out the fund management activities in a cost efficient manner

COMPANY INITIATIVE

Constant growth and development

Attract and retain talent and imparts training to the manpower to develop the needed skill sets; In-house Research team and framework for informed fund management decisions. State of the art Investment Management System seamlessly integrating the Front, Mid and Back offices, to effectively manage risks, investment accounting, MIS etc

MODIFIED NAVCOMPUTATION

As per IRDA Circulars ref: IRDA/F&I/CIR/INV/173/08/2011 dated July 29, 2011 and IRDA/F&I/CIR/INV/187/08/2011 dated August 17, 2011, computation of Net Asset Value stands modified with effect from August 18, 2011, as below:

OLD METHOD NEW METHOD

Fund Nav

NAVs (in Rs) as on 03-Jul-2020

  • Sr. No.1

  • Fund

  • Segregated Fund Identification No.

  • NAV

1 Balanced fundULIF 001 18/02/09 SUD-LI-BL1 14226.9039SD001
2 Equity FundULIF 002 25/02/09 SUD-LI-EQ1 14238.8808SD002
3 Bond FundULIF 004 25/02/09 SUD-LI-BN1 14223.2900SD003
4 Growth FundULIF 003 25/02/09 SUD-LI-GR1 14237.3004SD004
5 Individual Pension Fund - EquityULIF 005 31/03/09 SUD-PI-EQ1 14233.2429SD005
6 Individual Pension Fund - BondULIF 008 31/03/09 SUD-PI-BN1 14223.1774SD006
7 Individual Pension Fund - GrowthULIF 006 31/03/09 SUD-PI-GR1 14230.0337SD007
8 Individual Pension Fund - BalancedULIF 007 31/03/09 SUD-PI-BL1 14226.1201SD008
9 Apex Equity FundULIF 009 20/01/10 SUD-LA-EQ1 14221.6658SD009
10 Apex Bond FundULIF 012 20/01/10 SUD-LA-BN1 14222.2452SD010
11 Apex Growth FundULIF 010 20/01/10 SUD-LA-GR1 14222.4788SD011
12 Apex Balanced FundULIF 011 20/01/10 SUD-LA-BL1 14222.9926SD012
13 Individual Pension Fund - Apex EquityULIF 013 20/01/10 SUD-PA-EQ1 14221.7917SD013
14 Individual Pension Fund - Apex BondULIF 016 20/01/10 SUD-PA-BN1 14221.5984SD014
15 Individual Pension Fund - Apex GrowthULIF 014 20/01/10 SUD-PA-GR1 14222.2021SD015
16 Individual Pension Fund - Apex BalancedULIF 015 20/01/10 SUD-PA-BL1 14222.2931SD016
17 Express Balanced FundULIF 017 29/04/11 SUD-LX-BL1 14220.3034SD017
18 Discontinued FundULIF 018 03/06/11 SUD-UL-DP1 14218.4721SD018
19 Individual Life - Bluechip Equity FundULIF 019 11/12/13 SUD-LI-EQ2 14216.7108SD019
20 Individual Life - Income FundULIF 020 11/12/13 SUD-LI-BN2 14216.6063SD020
21 Individual Life - Growth Plus FundULIF 023 11/12/13 SUD-LI-GR2 14217.0876SD023
22 Individual Life - Balanced Plus FundULIF 024 11/12/13 SUD-LI-BL2 14217.3531SD024
23 Unclaimed Policies Unit Linked FundULIF 025 09/11/16 SUD-LN-UUF14212.6278SD029
24 Group Debt FundULGF 003 20/03/15 SUD-GN-BN1 14214.6246SD027
25 Group Money Market FundULGF 004 20/03/15 SUD-GN-MM1 14210.4665SD028
26 Group Balanced FundULGF 002 20/03/15 SUD-GN-BL1 14210.6796SD026
27 Individual Life - Mid Cap FundULIF 026 14/10/19 SUD-LI-MID 1427.8924SD030
28 Individual Life - Gilt FundULIF 027 14/10/19 SUD-LI-GLT 14210.5659SD031
Fund Philosophy

FUND
MANAGEMENT
TEAM

Get to know the
fund management team
at our company
01

Mr. Y. Venkata Rao

CHIEF INVESTMENT OFFICER

Qualifications: M.B.A

Experience: Over three decades of experience in the life insurance industry across verticals - investment, marketing, H.R, training and operations. Managed various assignments in equity, fixed income, and credit rating. Prior to joining the company, he was the Chief Investment Officer at LIC Mutual Fund.

Guest speaker at various Management and Training institutes, including National Insurance Academy (NIA).

02

Mr. Ram Kamal Samanta

HEAD OF FIXED INCOME AND FUND MANAGER

Qualifications: Post--graduation in Economics from JNU, PGDBA with specialisation in Finance, Chartered Financial Analyst (CFA – ICFAI India), certified Financial Risk Manager (FRM from GARP USA) and Certified Associate of Indian Institute of Bankers (CAIIB).

Experience: More than 18 years of experience in financial markets (both fixed income and equity) as a research analyst and fund manager. Prior to joining SUD Life, he was with SBI DFHI LTD as Vice President, Investment for 13 years.

Guest speaker at various reputed institutes including Indian Institute of Management (IIM) Kolkata, National Institute of Securities Market (NISM) and National Institute of Bank Management (NIBM) Pune.

03

Mr. Sumit Poddar

HEAD OF EQUITY AND FUND MANAGER

Qualifications: Chartered Accountant Rank holder in Intermediate CA.

Experience: More than 17 years of experience in financial markets as fund manager, equity research analyst and business analyst. Prior to joining SUD Life, he was with Aditya Birla Sunlife Insurance Co Ltd. as a fund manager and senior equity analyst in their investments department for over 11 years. He has managed funds with diverse mandates and has beaten the benchmark consistently.

Guest speaker at various reputed institutes including Sinhgad Institute of Management, Chartered Accountants associations

04

Mr. Jagdish Bhanushali

FUND MANAGER - EQUITY

Qualifications: CFA (CFA Institute) & FRM (Global Association of Risk Professional)

Experience: More than nine years’ experience as a fund manager and equity Research Analyst in Indian Equity market. Prior to joining SUD Life he was a senior equity analyst with Florintree Advisors Pvt. Ltd.

Earlier associated as guest faculty with Mithibai College of Science & Commerce and SIES College of Commerce & Economics.

05

Mr. Lakshman Chettiar

FUND MANAGER – FIXED INCOME

Qualifications: MBA in Finance from IES College of Management Studies​.

Experience:​ Over 11 years of experience as Fixed Income Fund manager, Senior Research Analyst (Valuation of Fixed Income) and in Banking.​

Prior to joining the company, he was working with CRISIL limited. He was also associated with Mata Securities Ltd. and Indusind Bank Ltd. in the past.

06

Mr. Ankit Shah

EQUITY RESEARCH ANALYST

Qualifications: BE Electronics (Mumbai University)

Experience:​ Over 9 years of total experience across Equity Research, Investment Banking and Information Technology.

07

Mr. Dwaipayan Poddar

DEALER- EQUITY

Qualifications: MBA in Financial Markets from ITM Business School.

Experience:​ Over 9 years of experience in capital markets specializing in investment research, technical analysis, equity & fixed income.​

Prior to joining the company​, he was managing proprietary trading book in a foreign bank for more than 3 years. He was also associated with large equity brokerages in the past.

08

Mr. Asijit Sen

CREDIT ANALYST

he was working with Government of India- Department for Promotion of Industry and Internal Trade for 5 years.

09

Mr. Adam Rosario

RESEARCH ANALYST

A qualified Chartered Accountant, he started his career with SUD Life in March 2016 and has worked across investment verticals in the back office as well as with front office for equities.

10

Mr. Anirudh Venkatraman

FIXED INCOME DEALER

A qualified Chartered Accountant, he began working with SUD Life in May 2016 and has worked across functions - back office, mid office, and is currently with the front office on fixed income.

11

Mr. Hasmukh Vishariya

EQUITY RESEARCH ANALYST​

A qualified Chartered Accountant started his career with the company in October 2017

CHANGE IN VALUATION OF EQUITY

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