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

Nifty rose by 2.2% during the month on back of globally rally as worries over Omnicron led economic disruptions eased. On global front, Fed announced accleration in reduction of asset purchase program. Majority of FOMC participants forecast 3 rate hikes in CY2022 as economic activity continue to strengthen. On Domestic front,RBI maintained stance quo on policy rate with an accommodative stance to support growth whereas measures towards Liquidity normalization continued with 14 day reverse repo auction amount increasing to Rs. 7.5 trillion. Policy measure to stimulate economic growth continued with announcement of PLI scheme for semiconductors. Q2FY22 current account deficit of US$9.6 bn (1.3% of GDP) is manageable on back of healthy forex reserve of US$ 635 bn. Among the sectors, IT, Metal, Pharma & Auto outperformed while BFSI, Oil & Gas, Cap Goods & FMCG underperformed the Nifty during the month. As per bloomberg data, during the month, FIIs sold to the tune of about Rs 355 bn, while domestic mutual funds bought around Rs 189 bn.

EQUITY

Most of emerging market & advanced economies are witnessing shift from low inflation to reflation, favoring positive equity return. However, gradual withdrawal of excess liquidity and interest rate hike by major central bank could limit equity returns. Domestically, Business Cycle has turned favorable with deleveraging of corporate balance sheet, rebound in residential real estate & likely private capex as already witnessed in cement, steel & sugar industry. Various government initiatives, pertaining to infrastructure development, PLI scheme & lower corporate tax rate, indicate clear intent of government to support economic growth. Corporate earnings growth has revived in a sustainable manner even though Omnicron related restriction could have unfavorable impact in near term. In this backdrop, equities could offer high value in sectors leveraged towards domestic economic growth to build long term portfolio of quality stocks.

FIXED INCOME

Fresh round of uncertainty related to the ongoing economic recovery owing to the spread of the new variant of COVID19 might delay the policy normalisation process of RBI. Amid rise in crude price and spike in global Fixed Income yield though there could be some concern in the market due to likely higher borrowings by state and corporate in the fourth quarter, gradual withdrawal of super normal liquidity to be supportive for the market. Moreover, Global Central Bank’s response in reaction to the emering uncertainty related to the new COVID19 variant will also be keenly watched.However, medium term outlook will be more determined by the evolving Global developments,crude prices, currency movement and demand supply dynamics.

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 24-Jan-2022

  • Sr. No.1

  • Fund

  • Segregated Fund Identification No.

  • NAV

1 Balanced fundULIF 001 18/02/09 SUD-LI-BL1 14231.2465SD001
2 Equity FundULIF 002 25/02/09 SUD-LI-EQ1 14257.9083SD002
3 Bond FundULIF 004 25/02/09 SUD-LI-BN1 14224.0658SD003
4 Growth FundULIF 003 25/02/09 SUD-LI-GR1 14251.4983SD004
5 Individual Pension Fund - EquityULIF 005 31/03/09 SUD-PI-EQ1 14249.5474SD005
6 Individual Pension Fund - BondULIF 008 31/03/09 SUD-PI-BN1 14223.9465SD006
7 Individual Pension Fund - GrowthULIF 006 31/03/09 SUD-PI-GR1 14240.8530SD007
8 Individual Pension Fund - BalancedULIF 007 31/03/09 SUD-PI-BL1 14230.7828SD008
9 Apex Equity FundULIF 009 20/01/10 SUD-LA-EQ1 14232.7048SD009
10 Apex Bond FundULIF 012 20/01/10 SUD-LA-BN1 14223.5048SD010
11 Apex Growth FundULIF 010 20/01/10 SUD-LA-GR1 14231.2460SD011
12 Apex Balanced FundULIF 011 20/01/10 SUD-LA-BL1 14229.3414SD012
13 Individual Pension Fund - Apex EquityULIF 013 20/01/10 SUD-PA-EQ1 14233.0040SD013
14 Individual Pension Fund - Apex BondULIF 016 20/01/10 SUD-PA-BN1 14222.7451SD014
15 Individual Pension Fund - Apex GrowthULIF 014 20/01/10 SUD-PA-GR1 14230.6050SD015
16 Individual Pension Fund - Apex BalancedULIF 015 20/01/10 SUD-PA-BL1 14228.7063SD016
17 Express Balanced FundULIF 017 29/04/11 SUD-LX-BL1 14223.9629SD017
18 Discontinued FundULIF 018 03/06/11 SUD-UL-DP1 14219.4852SD018
19 Individual Life - Bluechip Equity FundULIF 019 11/12/13 SUD-LI-EQ2 14224.8389SD019
20 Individual Life - Income FundULIF 020 11/12/13 SUD-LI-BN2 14217.3834SD020
21 Individual Life - Growth Plus FundULIF 023 11/12/13 SUD-LI-GR2 14223.3698SD023
22 Individual Life - Balanced Plus FundULIF 024 11/12/13 SUD-LI-BL2 14220.5182SD024
23 Unclaimed Policies Unit Linked FundULIF 025 09/11/16 SUD-LN-UUF14213.2608SD029
24 Group Debt FundULGF 003 20/03/15 SUD-GN-BN1 14215.2708SD027
25 Group Money Market FundULGF 004 20/03/15 SUD-GN-MM1 14210.9905SD028
26 Group Balanced FundULGF 002 20/03/15 SUD-GN-BL1 14211.9308SD026
27 Individual Life - Mid Cap FundULIF 026 14/10/19 SUD-LI-MID 14213.1113SD030
28 Individual Life - Gilt FundULIF 027 14/10/19 SUD-LI-GLT 14210.7669SD031
29 Dynamic FundULIF 028 11/06/21 SUD-LI-DYN 14210.1366SD032
30 Money Market FundULIF 029 11/06/21 SUD-LI-MMF 14210.0849SD033
Fund Philosophy

FUND
MANAGEMENT
TEAM

Get to know the
fund management team
at our company
01

Mr. Prashant Sharma

CHIEF INVESTMENT OFFICER

Qualifications: CA, CFA

Experience: More than two decades of experience of handling Investments. Prashant has been responsible for overall investment portfolios, formulating investment policies, generating reasonable returns and appropriate risk management. He has been also responsible for Corporate Strategy, Products, MIS and Assurance services in his previous roles and has been an active member of Executive Committee and Steering committees. Prior to joining the company, he was Chief Investment Officer at Aviva Life Insurance. He was also associated with Max Life Insurance in the capacity of Chief Investment Officer in the past

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. 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.

08

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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