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 sharply fell by 6.4% during the month in line with other major global indices as the wide spread of coronavirus across the globe remained the key concern. On the domestic front, RBI kept interest rates unchanged with accomodative stance. Further,the RBI incentivised banks to deduct auto, mortgage and MSME loans from CRR computation and extended loan restructuring to commercial real estate projects.Among the sectors FMCG, BFSI and IT outperformed while Auto, Metals and Energy underperformed the Nifty during the month. According to Bloomberg, FIIs were net buyers to the tune of about Rs 28bn, while domestic mutual funds bought to the tune of Rs 91bn of equity during the month.

The Index of Industrial Production reported a degrowth of 0.3% in December compared to a growth of 1.9% in November. CPI inflation rose to 7.6% in January against 7.4% in December. WPI inflation inched up to 3.1% in January as against 2.6% in December.

The Bond market rallied during the month of February 2020. The 10 year benchmark G-Sec (6.45% GOI 2029) closed 23 bps lower at 6.37% against 6.60% last month.

EQUITY

Equity markets have corrected ~10% from its peak as the fear of global epidemic spreading is expected to cause global supply-chain issues and demand weakness. However, the situation surrounding corona virus is improving, which is evidenced by the degrowth in the number of new cases and stability in Chinese markets. Historic analysis suggests that such market corrections have led to healthy returns in the next one year. In this backdrop, the current market correction presents an ideal opportunity to build a core portfolio of quality stocks with strong business models, which are now available at reasonable valuations. As corporate earnings were largely in line with estimates, the broad narrative is for growth to gradually pick up contingent on implementation of reforms, transmission of cumulative interest rate cuts and global growth scenario.

FIXED INCOME

Fresh round of growth concern across the globe resulted lowering of growth projection for the upcoming year. With lower crude price and expectation of gradual fall in inflation, RBI is likely to remain growth supportive in the near future. Hence, besides further reduction in policy rates, RBI is likely to use other policy tools at its disposal to ensure softer rate environment across the economy. Expected RBI action accompaied by fall in global fixed income yield and correction in the global equity market are favourable for the Indian Fixed Income market. However, medium term trend is likely to be guided by 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 08-Apr-2020

  • Sr. No.1

  • Fund

  • Segregated Fund Identification No.

  • NAV

1 Balanced fundULIF 001 18/02/09 SUD-LI-BL1 14224.8125SD001
2 Equity FundULIF 002 25/02/09 SUD-LI-EQ1 14232.6022SD002
3 Bond FundULIF 004 25/02/09 SUD-LI-BN1 14222.4863SD003
4 Growth FundULIF 003 25/02/09 SUD-LI-GR1 14232.6672SD004
5 Individual Pension Fund - EquityULIF 005 31/03/09 SUD-PI-EQ1 14227.9242SD005
6 Individual Pension Fund - BondULIF 008 31/03/09 SUD-PI-BN1 14222.2772SD006
7 Individual Pension Fund - GrowthULIF 006 31/03/09 SUD-PI-GR1 14226.2107SD007
8 Individual Pension Fund - BalancedULIF 007 31/03/09 SUD-PI-BL1 14223.8749SD008
9 Apex Equity FundULIF 009 20/01/10 SUD-LA-EQ1 14218.1166SD009
10 Apex Bond FundULIF 012 20/01/10 SUD-LA-BN1 14221.5770SD010
11 Apex Growth FundULIF 010 20/01/10 SUD-LA-GR1 14219.6265SD011
12 Apex Balanced FundULIF 011 20/01/10 SUD-LA-BL1 14220.5627SD012
13 Individual Pension Fund - Apex EquityULIF 013 20/01/10 SUD-PA-EQ1 14218.1941SD013
14 Individual Pension Fund - Apex BondULIF 016 20/01/10 SUD-PA-BN1 14220.9847SD014
15 Individual Pension Fund - Apex GrowthULIF 014 20/01/10 SUD-PA-GR1 14219.3700SD015
16 Individual Pension Fund - Apex BalancedULIF 015 20/01/10 SUD-PA-BL1 14219.9502SD016
17 Express Balanced FundULIF 017 29/04/11 SUD-LX-BL1 14218.7244SD017
18 Discontinued FundULIF 018 03/06/11 SUD-UL-DP1 14218.0940SD018
19 Individual Life - Bluechip Equity FundULIF 019 11/12/13 SUD-LI-EQ2 14213.9922SD019
20 Individual Life - Income FundULIF 020 11/12/13 SUD-LI-BN2 14216.0851SD020
21 Individual Life - Growth Plus FundULIF 023 11/12/13 SUD-LI-GR2 14214.9249SD023
22 Individual Life - Balanced Plus FundULIF 024 11/12/13 SUD-LI-BL2 14215.9703SD024
23 Unclaimed Policies Unit Linked FundULIF 025 09/11/16 SUD-LN-UUF14212.5285SD029
24 Group Debt FundULGF 003 20/03/15 SUD-GN-BN1 14214.0321SD027
25 Group Money Market FundULGF 004 20/03/15 SUD-GN-MM1 14210.3475SD028
26 Group Balanced FundULGF 002 20/03/15 SUD-GN-BL1 1429.9856SD026
27 Individual Life - Mid Cap FundULIF 026 14/10/19 SUD-LI-MID 1426.6550SD030
28 Individual Life - Gilt FundULIF 027 14/10/19 SUD-LI-GLT 14210.1352SD031
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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