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

During the month, Nifty gained 3.5% driven by better than expected Q2 corporate earnings, improvement in domestic macroeconomy through unlock 5.0 and RBI measures to boost liquidity in the banking sector. Further, domestic stocks were also buoyed by likely increase in foreign ownership limits in the MSCI global indices. Global volatility was led by rising Covid cases in Europe and US and uncertainty over US presidential election. Among the sectors, BFSI, IT and Metals outperformed while Pharma, Auto and FMCG underperformed the Nifty during the month. According to Bloomberg, during the month, FIIs turned net buyers to the tune of about Rs 202bn, while domestic mutual funds sold around Rs122bn.

The Index of Industrial Production fell by 8% in August compared to a decline of 10.8% in July. CPI inflation was rose to 7.3% in September as against 6.7% in August. WPI inflation inched up to 1.3% in September compared to 0.2% in August.

The bond market rallied during the month. The 10 year benchmark G-Sec (5.79% GOI 2030) closed 20 bps lower at 5.88% as against 6.02% last month.

EQUITY

Over the medium term, equity markets are expecting a resumption of economic activity and a medical solution to the ongoing pandemic. Major global economies are likely to be accommodative given the second wave of Covid-19 cases and likely to keep interest rate low over a longer period thereby helping the recovery. Domestic corporates displayed their cost efficiency and management provided improving outlook in the earnings season so far. Consumption as well as collections by financial institutions are showing improving trends and further fiscal stimulus package in time for the festive provides an upside trigger for the economy. Improving outlook, high capital flows, low oil prices, policy support are among the factors which provide optimism to equity markets. In this backdrop, equities offer an opportunity to build a portfolio of stocks that are also responding to the changing market conditions and would likely reap the benefits of recovery, digitalisation, shift in global manufacturing and move towards organised players.

FIXED INCOME

With economy opening up, growth recovery is anticipated to be at a faster pace than earlier expected. With expected additional fiscal stimulus from Government to support the growth, the worries of widening fiscal deficit are keeping the yields under check. Continuation of the accommodative policy stance and unconventional measures by RBI are likely to remain supportive for the market sentiment. Moreover accommodative policy stance of major central banks across the globe and benign global fixed income yield are also likely to complement domestic market. Over the medium term, market trend is likely to be guided by any additional 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 02-Dec-2020

  • Sr. No.1

  • Fund

  • Segregated Fund Identification No.

  • NAV

1 Balanced fundULIF 001 18/02/09 SUD-LI-BL1 14228.3382SD001
2 Equity FundULIF 002 25/02/09 SUD-LI-EQ1 14246.1454SD002
3 Bond FundULIF 004 25/02/09 SUD-LI-BN1 14223.7320SD003
4 Growth FundULIF 003 25/02/09 SUD-LI-GR1 14242.5765SD004
5 Individual Pension Fund - EquityULIF 005 31/03/09 SUD-PI-EQ1 14239.5640SD005
6 Individual Pension Fund - BondULIF 008 31/03/09 SUD-PI-BN1 14223.5966SD006
7 Individual Pension Fund - GrowthULIF 006 31/03/09 SUD-PI-GR1 14234.2947SD007
8 Individual Pension Fund - BalancedULIF 007 31/03/09 SUD-PI-BL1 14227.4544SD008
9 Apex Equity FundULIF 009 20/01/10 SUD-LA-EQ1 14225.8530SD009
10 Apex Bond FundULIF 012 20/01/10 SUD-LA-BN1 14222.5795SD010
11 Apex Growth FundULIF 010 20/01/10 SUD-LA-GR1 14225.6911SD011
12 Apex Balanced FundULIF 011 20/01/10 SUD-LA-BL1 14225.3408SD012
13 Individual Pension Fund - Apex EquityULIF 013 20/01/10 SUD-PA-EQ1 14226.0767SD013
14 Individual Pension Fund - Apex BondULIF 016 20/01/10 SUD-PA-BN1 14221.8774SD014
15 Individual Pension Fund - Apex GrowthULIF 014 20/01/10 SUD-PA-GR1 14225.4772SD015
16 Individual Pension Fund - Apex BalancedULIF 015 20/01/10 SUD-PA-BL1 14224.6056SD016
17 Express Balanced FundULIF 017 29/04/11 SUD-LX-BL1 14221.6821SD017
18 Discontinued FundULIF 018 03/06/11 SUD-UL-DP1 14218.8329SD018
19 Individual Life - Bluechip Equity FundULIF 019 11/12/13 SUD-LI-EQ2 14219.8824SD019
20 Individual Life - Income FundULIF 020 11/12/13 SUD-LI-BN2 14216.8698SD020
21 Individual Life - Growth Plus FundULIF 023 11/12/13 SUD-LI-GR2 14219.5066SD023
22 Individual Life - Balanced Plus FundULIF 024 11/12/13 SUD-LI-BL2 14218.5711SD024
23 Unclaimed Policies Unit Linked FundULIF 025 09/11/16 SUD-LN-UUF14212.8050SD029
24 Group Debt FundULGF 003 20/03/15 SUD-GN-BN1 14214.9348SD027
25 Group Money Market FundULGF 004 20/03/15 SUD-GN-MM1 14210.6125SD028
26 Group Balanced FundULGF 002 20/03/15 SUD-GN-BL1 14211.2091SD026
27 Individual Life - Mid Cap FundULIF 026 14/10/19 SUD-LI-MID 1429.7170SD030
28 Individual Life - Gilt FundULIF 027 14/10/19 SUD-LI-GLT 14210.7048SD031
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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