monthly investment update: ulip june, 2011 newsletterjun… · *please note that unit plus iii,...

1

2008

SBI Life has a variety of unit linked products with different funds which gives you flexibility to choose your investment pattern to generate market linked returns according to your risk appetite.

SSBBII LLiiffee UULLIIPP FFUUNNDDSS

Fund Names

Products*

SBI Life - Unit Plus

Super

SBI Life – Smart

Performer

SBI Life – Saral Maha

Anand

SBI Life – Smart

Scholar

SBI Life – Smart Elite

SBI Life – Smart

Horizon

SBI Life – Smart

Pension

SBI Life – Smart

Wealth Assure

Equity

Bond

Money Market

Growth

Balanced

Equity Optimiser

Index

Top 300

P/E Managed

Daily Protect

Daily Protect II

Equity Elite Fund II

Guaranteed Pension Fund (GPF)

Return Guarantee Fund (RGF)

*Please note that Unit Plus III, Horizon III, Maha Anand II, Unit Plus Elite II, Unit Plus II Child, Unit Plus III Pension, Horizon III Pension & Smart ULIP (Series II) are withdrawn w.e.f 1 September 2010. However the various funds under these products are still in force.

ULIPU N I T L I N K E D P R O D U C T S F R O M S B I L I F E I N S U R A N C E C O . L T D .Monthly Investment Update: Volume 4, Issue 3 June, 2011

2

DEBT MARKET REVIEW AND OUTLOOK

MARKET REVIEW

Yields headed south during the month as The New York Mercantile Exchange (NYMEX) crude fell below $100

and even touch a tad below $90/bbl. The sovereign default fears in Greece and the subsequent downgrades of

Greece and Portugal also had their share in bring down Gsec yields. The markets also witnessed a relief rally

considering the fact that RBI kept away from an aggressive 50 basis points (bps) hike on 16th June and stuck

only to a moderate 25 bps move.

Short term yields and CD rates have fallen as liquidity tightness has eased considerably. From Rs. 1 trillion

(daily LAF Repo borrowing) it has reduced to around Rs.14,000 cr of late.

Key rate movements during the month are as under:

Instrument Jun '11 May '11 Mar ’11 Change YTD Change (MOM)

10 Yr Gsec 8.33% 8.41% 7.98% 0.35% -0.08% 30 Yr Gsec 8.66% 8.66% 8.36% 0.30% 0.00% 3 Yr AAA Bond 9.62% 9.75% 9.32% 0.30% -0.13% 5 Yr AAA Bond 9.45% 9.65% 9.14% 0.31% -0.20% 10 Yr AAA Bond 9.44% 9.70% 9.11% 0.33% -0.26% 364 Days Treasury Bill 8.29% 8.32% 7.58% 0.71% -0.03% 91 Days Treasury Bill 8.18% 8.19% 7.23% 0.95% -0.01% 1 Yr Certificate of Deposit 9.75% 10.10% 9.60% 0.15% -0.35% Crude $/barrel 95$ 103$ 100$ -5$ -8$

(Source: Bloomberg, Reuters & RBI)

Macro Indicators

Index of Industrial output grew at 6.3% year-on-year (y-o-y) in April which turned out to be much

higher than consensus estimates. This was the newly formed index which has a base year of 2004-05

versus the old base of 1993-94. The new series has lesser weight given to ‘Manufacturing’ and

increased weight to ‘Mining’. 42 item groups have been deleted and 135 items groups have been

added. The new index is expected to be much purer reflection of the industrial activity in the

economy. The HSBC Manufacturing Purchasing Manager’s Index (PMI) also dropped from 57.5 to 55.3

in June

June, 2011June, 2011

3

The May inflation came in at 9.06% against the consensus estimate of 8.7% owing to a 1.1% month-

on-month (m-o-m) rise in manufacturing prices clearly indicating that the spill-over is happening from

food prices and other indices like input and output prices components of the HSBC India PMI also

foretell more price pressures going forward. The overall expectations are still way too high at around

13% which needs to be arrested. Of late the food price index has been rising and has reached a level

not seen in the last 12 months which also is a worrying factor.

India’s trade deficit widened to $ 15 bn in May, with exports growing at above 40%. The year FY 11

ended with exports clocking $245 bn. The current account deficit for FY 11 came at 2.6% of GDP when

there were strong fears of the figure approaching 3.5%.

Bank deposits in the latest fortnight of FY12 fell by 33,000 cr and are currently growing at 18.2%.

Credit growth rose by 20,000 cr and the current growth rate of loans and disbursals is 20.7%.

Source: Bloomberg, Reuters & RBI

Mid-quarterly Policy review The central bank on 16th June hiked Repo Rate by 25 bps which was what most of the market had expected.

From this policy meeting onwards Reverse Repo rate would always be Repo rate minus 100 bps. The RBI

continued to drive the point that inflation was a threat and the focus of monetary policy in the coming

meetings would have to be on arresting inflation. Dr. Subbarao had also clearly mentioned that inflation could

start softening later in the year and maintained that GDP growth would be around 8% in FY 12.

Source: RBI

Global News: US awaits debt ceiling decision as fears recede in Europe; RBA keeps status quo

The US economic data is still weak thereby rekindling fears of a prolonged slowdown. The unemployment

figure is expected to stick at 9.1% for June. But the staple announcement would have to be the approval for

US government to raise its debt ceiling without which even the US long term credit could be downgraded

according to Standard & Poor’s (S&P). The Euro-zone on the one hand received two shocks with the

downgrade of both Greece and Portugal sovereign ratings. However the markets have been pacified with the

approval of the European Central Bank (ECB) funding for Greek repayments and also the parliamentary

approval for Greece’s austerity plans. Reserve Bank of Australia decided to keep its rates on hold until the

signs of global slowdown start fading away.

.

Source: Bloomberg, Reuters

June, 2011

4

OUTLOOK

Weekly inflation data still suggests high food inflation and manufacturing inflation also is rising sequentially by

higher than normal numbers. Higher inflation especially after the retail fuel price hikes and fiscal worries

should continue to apply hardening pressure on Gsec yields. However the supply of Gsecs is relatively less

going forward. Currently the expected supply-demand gap of Gsecs is around Rs. 50,000 cr by March 2012, but

with the rate at which deposits are growing and closing in the gap on credit growth, Statutory Liquidity Ratio

(SLR) buying by banks would be enough to bridge this gap. The RBI could also later step in through Open

Market Operations (OMOs) and/or raise the SLR requirement 25% of Net Demand & Time Liabilities (NDTL)

which would then drive bond yields lower.

We expect RBI to hike Repo rate by 25 bps and then pause for a while. Considering this and the softening of

liquidity pressures owing to redemptions of bonds and cash management bills, the shorter end of the yield

curve should fall and with regards to the 10 year benchmark yield we expect it to trade in the range of 8.25%-

8.45%

EQUITY OUTLOOK Sensex plunged more than 10% during the month only to recover subsequently.

Sentiments were impacted in secondary markets during the month with talks of policy paralysis and political

log jam doing rounds. A possible revoking of tax treaty with Mauritius spooked the markets to a 10% fall from

the levels it closed during the month of May, 2011(treaty that gives tax breaks for companies registered in

Mauritius).

However, sentiments improved since then. International Energy Agency said it would release 60 million

barrels of oil of its total 400 billion barrels to cool the prices. India is dependent on imported oil to the extent

of 70% of its overall requirements. This was accompanied by rise in prices of downstream petroleum products

by the Government of India to reduce the subsidy bill. Even though this came in late, it was a step in right

direction. Markets cheered the move. It recovered most of its losses and closed 1.9% above its previous

months low.

India moved closer to approving of Foreign Direct Investment in multi brand retailing. Mounting pressure of

State Electricity Boards losses was a big concern for the centre. Environment and Forest ministry gave its

approval for few of the projects by lifting its ban on “no go” areas of mining of coal for power.

Monsoon progressed well during the month and was 11% above the long term average.

June, 2011

5

Economic data that got released were not so good though. Core sector growth was at a low of 5.3% and

inflation remained high at 9% for the month of May, 2011. RBI further raised rates by 25 basis points to 7.5%.

On the international side, problems in Greece got temporarily resolved with ruling government getting the

required majority. The government that retained its power also passed resolutions required for passing of

austerity measures.

Market movement in the month of July would depend on progress of monsoon, international stability

(especially in Euro zone), results that are likely to be released for the first quarter of Fiscal 2012. Indices have

started to discount the melting down of factors that led to high inflation like oil and metal prices. Foreign

Institutional Investors and Indian Domestic Mutual funds net buying figures of USD 1 billion and USD 250

million are indicating a trend reversal. It may be too early to take a call though in Indian context due to

further increase in inflation likely on account of fuel cost increase.

We expect margin pressures due to high interest & transportation costs. We would hold to our cautious view

on the markets and would stay defensive.

Disclaimer:

1) This newsletter only gives an overview of economy and should not be construed as financial advice 2) SBI Life Insurance Co. Ltd however makes no warranties, representations, promises or statements that

information contained herein are correct and accurate. Please consult your Advisor/Consultant before making the investment decision

3) The Company reserves the right to close or add existing / new fund option subject to IRDA approval. 4) Company shall select the investments, including derivatives and units of mutual funds, by each fund at its

sole discretion subject to the investment objectives of the respective plan and the IRDA regulations.

June, 2011

INVEST

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0 Jan 05)

23.54%

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June, 2011

7

Bond Fund

INVESTMENT STYLE To provide relatively safe and less volatile investment option mainly through debt instruments and

accumulation of income through investment in fixed income securities. The fund has the following asset class

allocation strategy:

Assets of Bond Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 60% 100% Low to

Medium

79.83%

Money Market Instruments 0% 40% 20.17%

FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yrs 3 yrs 4 yrs 5 yrs

Since Inception

(10 Jan 05)

Bond Fund 1.65% 5.35% 6.28% 10.15% 9.79% 9.57% 8.63%

Benchmark – CRISIL CompBex 1.24% 4.58% 4.63% 6.78% 6.35% 5.99% 5.50%

June, 2011

*i) Returns less than or equal to one year are absolute returns. Returns greater than a year are in terms of Compound Annual Growth Rate (CAGR)

ii) Past performance of any of the funds is not indicative of their future prospects or returns

8

Growth Fund

INVESTMENT STYLE Long-term capital appreciation through investment primarily in equity and equity related instruments with a

small part invested in debt and money market for diversification and risk reduction.

The fund has the following asset class allocation strategy:

Assets of Growth Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 40% 90% Medium

to High

68.53%

Debt & Money Market Instruments 10% 60% 31.47%

FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yrs 3 yrs 4 yrs

5 yrs

Since

Inception

(24 Nov 05)

Growth Fund -2.30% 3.93% 11.18% 8.11% 3.24% 8.51% 14.42%

Benchmark – Nifty (70%)

CompBex (30%)

-1.82% 6.10% 12.02% 6.70% 3.25% 9.42% 11.74%

June, 2011

9

Balanced Fund

INVESTMENT STYLE To provide accumulation of income through investment in both equities and fixed income securities with an

attempt to maintain a suitable balance between return and safety. The fund has the following asset class


Assets of Balanced Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 40% 60%Medium

48.65%


FUND PERFORMANCE

Returns From


Since Inception

(5 Dec 05)

Balanced Fund -0.28% 3.96% 9.88% 10.52% 8.69% 11.95% 12.36%


CompBex (50%)

-0.92% 5.82% 10.06% 8.63% 6.04% 9.48% 10.56%

June, 2011

10

Equity Optimiser Fund

INVESTMENT STYLE To provide equity exposure targeting higher returns through long term capital gains.


Assets of Equity Optimiser Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

80.15%


FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yrs 3 yrs

Since Inception

(21 Jan 08)

Equity Optimiser Fund -4.05% 3.15% 13.65% 13.54% 5.92%

Benchmark – Nifty (80%) LiquiFEX (20%) -2.14% 6.73% 13.08% 8.43% -0.33%

June, 2011

11

Index Fund

INVESTMENT STYLE To provide returns closely corresponding to returns of NSE, S&P CNX Nifty Index, though investment

regulations may restrict investment in group companies and some large cap companies listed on the Nifty

Index leading to higher tracking error. The fund has the following asset class allocation strategy:

Assets of Index Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 90% 100%High

98.89%

Money Market Instruments & Cash 0% 10% 1.11%

FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(7 Jan 2010)

Index Fund -2.38% 6.81% 6.42%

Benchmark – Nifty -3.19% 6.30% 4.88%

June, 2011

12

Top 300 Fund

INVESTMENT STYLE To provide long term capital appreciation by investing in stocks of top 300 companies in terms of market

capitalization on the National Stock Exchange. The fund has the following asset class allocation strategy:

Assets of Top 300 Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

76.68%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(7 Jan 2010)

Top 300 Fund -0.16% 5.31% 13.18%

Benchmark – Nifty (80%) LiquiFEX (20%) -2.14% 6.73% 5.38%

June, 2011

13

P/E Managed Fund INVESTMENT STYLE To provide long term capital appreciation through dynamic asset allocation with reference to forward Price

Earning (P/E) multiple. The allocation to equity and equity related instruments is determined largely by

reference to forward Price Earning (P/E) multiple on the NSE, S&P, CNX Nifty Index and remaining fund is

invested in debt instruments, money market & cash. The fund has the following asset class allocation strategy:

Forward P/E Bands Asset Allocation

Risk Equity & Equity Related Instruments

Debt, Money Market Instruments & Cash

<12 90% to 100% 0% to 10% High 12 ≥ and < 15 80% to 100% 0% to 20%

15 ≥ and < 18 60% to 90% 10% to 40%18 ≥ and < 21 40% to 80% 20% to 60%

≥ 21 0% to 50% 50% to 100%

Actual Asset Mix (As on 30 Jun 11)

Equity: 80.68% Debt, Money Market Instruments & Cash: 19.32%

FUND PERFORMANCE

Returns From

1 April 11

Since Inception

(8 Sep 2010)

P/E Managed Fund -2.27% 0.20%

Benchmark –NA NA NA

June, 2011

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June, 2011

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June, 2011

16

Equity Elite Fund

INVESTMENT STYLE

For long-term capital appreciation through higher exposure in equity and equity related instruments. The fund

has the following asset class allocation strategy:

Assets of Equity Elite Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 60% 100%High

79.22%


FUND PERFORMANCE

Returns From


Since Inception

(25 Feb 08)

Equity Elite Fund -3.93% 5.51% 15:00% 17.88% 12.00%


LiquiFEX (20%)

-2.14% 6.73% 13.08% 8.43% 0.23%

June, 2011

17

FlexiProtect Fund

INVESTMENT STYLE To optimise returns and provide capital protection by adopting dynamic asset allocation plan. The fund has the

following asset class allocation strategy:

Assets of FlexiProtect Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 0% 100% Low to

Medium

49.43%


FUND PERFORMANCE

Returns From

1 April 11 1 yr 2 yr

Since Inception

(8 March 09)

FlexiProtect Fund -0.30% 4.11% 11.27% 25.86%

Benchmark – NA NA NA NA NA

June, 2011

18

FlexiProtect Fund (Series II)

INVESTMENT STYLE To provide capital protection and optimum returns based on systematic asset allocation model. The fund has

the following asset class allocation strategy:

Assets of FlexiProtect Fund (Series II) Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


Medium

77.40%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(8 Jan 2010)

FlexiProtect Fund (Series II) -1.05% 7.20% 11.77%

Benchmark – NA NA NA NA

June, 2011

19

Equity Pension Fund INVESTMENT STYLE To provide high equity exposure targeting higher returns in the long term. The fund has the following asset

class allocation strategy:

Assets of Equity Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


93.97%


FUND PERFORMANCE

Returns From


Since Inception

(15 Jan 07)

Equity Pension Fund -3.12% 4.58% 12.88% 11.20% 5.91% 7.76%

Benchmark – Nifty -3.19% 6.30% 14.72% 9.54% 4.98% 5.87%

June, 2011

20

Bond Pension Fund INVESTMENT STYLE To provide relatively safe and less volatile investment option mainly through debt instruments and

accumulation of income through investment in fixed income securities. The fund has the following asset class


Assets of Bond Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 60% 100% Low to

Medium

81.54%


FUND PERFORMANCE

Returns From


Since Inception

(16 Jan 07)

Bond Pension Fund 1.66% 5.26% 6.66% 8.91% 8.86% 8.87%

Benchmark – CRISIL CompBex 1.24% 4.58% 4.63% 6.78% 6.35% 6.04%

June, 2011

21

Growth Pension Fund

INVESTMENT STYLE To provide long-term capital appreciation through investments primarily in equity and equity related

instruments with a small part invested in debt and money market for diversification and risk reduction.


Assets of Growth Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 40% 90% Medium

to High

69.56%


FUND PERFORMANCE

Returns From


Since Inception

(15 Feb 07)

Growth Pension Fund -2.16% 5.61% 14.08% 11.86% 7.15% 11.18%


CompBex (30%)

-1.82% 6.10% 12.02% 4.53% 1.37% 2.49%

June, 2011

22

Balanced Pension Fund INVESTMENT STYLE To provide accumulation of income through investment in both equities and fixed income securities with an

attempt to maintain a suitable balance between return and safety. The fund has the following asset class


Assets of Balanced Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity & Equity Related Instruments 40% 60%Medium

50.29%


FUND PERFORMANCE

Returns From


Since Inception

(21 Feb 2007)

Balanced Pension Fund -0.22% 4.23% 10.10% 12.40% 11.46% 13.99%


CompBex (50%)

-0.92% 5.82% 10.06% 8.63% 6.04% 6.57%

June, 2011

23

Equity Optimiser Pension Fund INVESTMENT STYLE To provide equity exposure targeting higher returns (through long term capital gains). The fund has the

following asset class allocation strategy:

Assets of Equity Optimiser Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)


79.98%


FUND PERFORMANCE

Returns From


Since Inception

(21 Jan 2008)

Equity Optimiser Pension Fund -3.65% 4.31% 14.07% 13.81% 6.15%

Benchmark – Nifty (80%) LiquiFEX (20%) -2.14% 6.73% 13.08% 8.43% -0.33%

June, 2011

24

Index Pension Fund

INVESTMENT STYLE To provide returns closely corresponding to returns of NSE, S&P CNX Nifty Index, though investment

regulations may restrict investment in group companies listed on index leading to higher tracking error. The

fund has the following asset class allocation strategy:

Assets of Index Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 90% 100%High

98.81%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(18 Jan 2010)

Index Pension Fund -2.34% 6.80% 9.33%

Benchmark – Nifty -3.19% 6.30% 4.82%

June, 2011

25

Top 300 Pension Fund

INVESTMENT STYLE To provide long term capital appreciation by investing in stocks of top 300 companies in terms of market

capitalization on National Stock Exchange. The fund has the following asset class allocation strategy:

Assets of Top 300 Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 60% 100%High

77.23%


FUND PERFORMANCE

Returns From

1 April 11 1 yr

Since Inception

(18 Jan 2010)

Top 300 Pension Fund -0.27% 3.35% 10.57%

Benchmark – Nifty (80%) LiquiFEX (20%) -2.14% 6.73% 5.35%

June, 2011

26

Daily Protect Fund II

INVESTMENT STYLE To provide NAV protection using the CPPI methodology. The asset allocation is dynamically rebalanced to give

a guarantee^ of 105% of the highest NAV in the built-up phase. The fund has the following asset class


Assets of Daily Protect Fund II Min Max Risk Actual Asset Mix (As on 30 Jun 11)


Medium

74.86%


^The Guaranteed NAV shall be available only at maturity and shall be subject to the Policy being in force till the maturity date. Guarantee charge of 0.50% p.a. of Daily Protect Fund II value, would be recovered from the fund (through cancellation of units) to provide the NAV guarantee. FUND PERFORMANCE

Returns From 1 April 11 Since Inception

(4 Mar 2011)

Daily Protect Fund II -3.06% 2.43%


June, 2011

27

Return Guarantee Fund (RGF)*

INVESTMENT STYLE To maximise the investment return subject to a guaranteed return over a pre specified fixed period (till the last

vesting date of all policies invested in the fund). It aims to guarantee a reverse repo related return by investing

mostly in fixed income securities (debt instruments, money market instruments and cash) with maturities

close to the maturity date of the fund.

Assets of RGF Minimum Maximum Risk Actual Asset Mix (As on 30 Jun 11)

Equity 0% 10% Low

Debt &Money Market Instruments 90% 100% 100%

FUND PERFORMANCE- RGF070311

Returns From

1 April 11

Since Inception

(09 Mar 2011)

Return Guarantee Fund (RGF) -0.64 0.09%


FUND PERFORMANCE- RGF150611

Returns From

1 April 11

Since Inception

(21 Jun 2011)

Return Guarantee Fund (RGF) NA -0.21%


*The ‘Return Guarantee’ (Minimum NAV Guarantee) is applicable only in respect of the Return Guarantee Fund (RGF) and

is applicable to the NAV at the end of the 10th year from the start of the subscription period of the Fund and /or sub-

fund(s). The guarantee will apply to all contributions made during the subscription period. To provide the ‘Return

Guarantee’ a guarantee charge of 0.35% p.a. of the Fund Value levied on RGF would be recovered through cancellation of

units.

RGF070311

June, 2011

28

Money Market Fund

INVESTMENT STYLE To deploy the funds in liquid and safe instruments so as to avoid market risk on a temporary basis.


Assets of Money Market Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 0% 20%Low

0.23%


FUND PERFORMANCE

Returns From


Since Inception

(1 Feb 06)

Money Market Fund 1.68% 6.17% 5.31% 6.52% 6.40% 6.37% 6.32%

Benchmark – LiquiFEX 1.92% 7.18% 5.22% 6.27% 6.39% 6.57% 6.53%

Money Market Pension Fund

To provide an option to deploy the funds in liquid and safe instruments so as to avoid market risk on a

temporary basis. The fund has the following asset class allocation strategy:

Assets of Money Market Pension Fund Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Debt Instruments 0% 20%Low

11.36%


FUND PERFORMANCE

Returns From


Since Inception

(20 Mar 08)

Money Market Pension Fund 2.08% 7.11% 5.50% 6.58% 6.57%

Benchmark - LiquiFEX 1.92% 7.18% 5.22% 6.27% 6.39%

June, 2011

29

Guaranteed Pension Fund (GPF070211)^

INVESTMENT STYLE To maximise the investment return subject to a guaranteed return over a pre specified fixed period (till the last

vesting date of all policies invested in the fund). It aims to guarantee a reverse repo related return by investing

mostly in fixed income securities (debt instruments, money market instruments and cash) with maturities

close to the maturity date of the fund.

Assets of GPF Minimum Maximum Risk Actual Asset Mix

(As on 30 Jun 11)

Equity 0% 10%Low

0%

Debt &Money Market Instruments 90% 100% 100%

FUND PERFORMANCE

Returns From

1 April 11

Since Inception

(09 Feb 2011)

Guaranteed Pension Fund (GPF070211) 1.41% 2.09%


^The Guaranteed NAV is applicable only at maturity, and shall be further subject to the Policy being in force till

the Maturity Date. Guarantee Charge of 0.35% p.a. would be recovered from the Fund (through cancellation of

units) to provide the NAV Guarantee.

June, 2011

30

Funds Inception

Date

Bench marks (BM)

Returns in %(Less than or equal to 1 yr : Absolute Returns, greater than 1 yr : CAGR)

From

1 Apr 11 1 yr 2 yrs

3 yrs

4 yrs

5 yrs

Since Inception

Fund BM Fund BM Fund BM Fund BM Fund BM Fund BM Fund BM

Equity 10-Jan-05 NIFTY

-1.95 -3.19 7.64 6.30 17.67 14.72 14.03 11.8

1 7.44 6.93 12.91 12.53 23.54 17.56

Equity Pension# 15-Jan-07

-3.12 -3.19 4.58 6.30 12.88 14.72 11.20 9.54 5.91 4.98 NA NA 7.76 5.87

Growth# 24-Nov-

05 Nifty (70%)

CompBex (30%)

-2.30 -1.82 3.93 6.10 11.18 12.02 8.11 6.70 3.24 3.25 8.51 9.42 14.42 11.74

Growth Pension# 15-Feb-07

-2.16 -1.82 5.61 6.10 14.08 12.02 11.86 4.53 7.15 1.37 NA NA 11.18 2.49

Equity Optimiser* 21-Jan-08

Nifty (80%)

LiquiFEX (20%)

-4.05 -2.14 3.15 6.73 13.65 13.08 13.54 8.43 NA NA NA NA 5.92 -0.33

Equity Optimiser Pension#* 21-Jan-08

-3.65 -2.14 4.31 6.73 14.07 13.08 13.81 8.43 NA NA NA NA 6.15 -0.33

Equity Elite# 25-Feb-08 -3.93 -2.14 5.51 6.73 15.00 13.08 17.88 8.43 NA NA NA NA 12.00 0.23

Equity Elite Fund II* 10-Feb-10

-2.62 -2.14 7.66 6.73 NA NA NA NA NA NA NA NA 8.63 12.03

Balanced# 5-Dec-05 Nifty (50%)

CompBex (50%)

-0.28 -0.92 3.96 5.82 9.88 10.06 10.52 8.63 8.69 6.04 11.95 9.48 12.36 10.56

Balanced Pension# 21-Feb-07

-0.22 -0.92 4.23 5.82 10.10 10.06 12.40 8.63 11.46 6.04 NA NA 13.99 6.57

Bond 10-Jan-05 CRISIL CompBex

1.65 1.24 5.35 4.58 6.28 4.63 10.15 6.78 9.79 6.35 9.57 5.99 8.63 5.50

Bond Pension 16-Jan-07

1.66 1.24 5.26 4.58 6.66 4.63 8.91 6.78 8.86 6.35 NA NA 8.87 6.04

Money Market# 1-Feb-06

LiquiFEX

1.68 1.92 6.17 7.18 5.31 5.22 6.52 6.27 6.40 6.39 6.37 6.57 6.32 6.53

Money Market Pension#

20-Mar-08

2.08 1.92 7.11 7.18 5.50 5.22 6.58 6.27 NA NA NA NA 6.57 6.39

FlexiProtect 8-Mar-09

NA

-0.30 NA 4.11 NA 11.27 NA NA NA NA NA NA NA 25.86 NA

FlexiProtect (Series II) 8-Jan-10

-1.05 NA 7.20 NA NA NA NA NA NA NA NA NA 11.77 NA

Guaranteed Pension Fund (GPF070211)

9-Feb-11

1.41 NA NA NA NA NA NA NA NA NA NA NA 2.09 NA

Daily Protect 6-Sep-10

-2.02 NA NA NA NA NA NA NA NA NA NA NA -3.38 NA

Daily Protect II 4-Mar-11

-3.06 NA NA NA NA NA NA NA NA NA NA NA 2.43 NA

RGF070311 9-Mar-11


RGF150611

NA NA NA NA NA NA NA NA NA NA NA NA -0.21 NA

P/E Managed^ 8-Sep-10


Index 7-Jan-10

Nifty -2.38 -3.19 6.81 6.30 NA NA NA NA NA NA NA NA 6.42 4.88

Index Pension 18-Jan-10 -2.34 -3.19 6.80 6.30 NA NA NA NA NA NA NA NA 9.33 4.82

Top 300* 7-Jan-10 Nifty (80)

Liquifex (20)


Top 300 Pension* 18-Jan-10


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31

# W.e.f. 1st April, 2009 the Benchmark for the funds has been revised for better representation of the investment philosophy of the fund. The benchmark returns mentioned above accordingly represent aggregate performance of old benchmark upto March 09 and revised benchmark thereafter. * W.e.f. 1 June 2010, the Benchmark for the funds have been defined.

Past performance of any of the funds above is not indicative of their future prospects or returns.

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER To know more about us

Visit us at www.sbilife.co.in or Call Toll Free No. 1800 22 9090 SBI Life Insurance Co. Ltd.

Registered Office and Corporate Office: "Natraj", M.V Road & Western Express Highway Junction, Andheri (E), Mumbai-400069

Regn. No. 111 Insurance is the subject matter of solicitation

For more details on Risk Factors, Terms & Conditions, please read the sales brochure carefully before concluding a sale

Risk Factors:

1) Unit Linked Life Insurance products are different from the traditional insurance products and are subject to

the risk factors

2) Premium paid in unit linked policies are subject to market risks associated with capital markets and NAVs of

units may go up or down based on the performance of fund and factors influencing the capital market and

the insured is responsible for his/her decision.

3) SBI Life Insurance Co. Ltd. is only the name of the insurance company and the various products offered are

only the names of the unit linked life insurance contract and does not in any way indicate the quality of the

contract, its future prospects or returns

4) The various funds offered under SBI Life Unit Linked products are only the names of funds and do not in any

way indicate the quality of these funds, their future prospects and returns

5) Please know the associated risks and the applicable charges, from your Insurance agent or the intermediary

or policy document of the insurer

6) Past Performance of the Fund is not indicative of its future prospects or returns.

June, 2011

monthly investment update: ulip june, 2011 newsletterjun… · *please note that unit plus iii,...

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