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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

Equity markets across the globe delivered strong returns in June 2025, with several major indices either creating fresh high watermarks, or trading very close to their all-time highs, rebounding sharply from the volatility seen earlier in the year. Indian equities, too, were strong during the month, with the benchmark Nifty +3.1%, while Midcap and Smallcap counterparts +4.0% and +6.7%, respectively. Rising hopes of bilateral trade deals with the US, abatement of the brief Iran-Israel conflict and benign crude prices were some of the factors driving this momentum.

Closer home, the RBI’s MPC delivered a 50-bps repo rate cut in its June meeting, bringing the cumulative rate cut to 100 bps within 4 months beginning Feb’25. Additionally, the RBI also announced a 100-bps cut in the cash reserve ratio (CRR), to be implemented in 4 equal tranches between September and November. Despite the rate cut and increased liquidity, the yields on the 10-year benchmark paper hardened from 6.13% on the policy meeting date to 6.31% at the end of June as the change of stance from accommodative to neutral effectively was seen to indicate an end to the current rate cut cycle. The RBI also cut its FY26 inflation forecast by 30 bps to 3.7% from 4.0%, as inflation continues to trend downwards. A strong start to the monsoons provides further confidence on this aspect, though the intensity and spatial distribution of the monsoons remain key monitorables.

After 3 years of negotiations, India-UK trade FTA was finalized, which is positive for automobiles and agriculture. A favourable India-US trade pact is also anticipated by the markets soon, providing a further tailwind.From a sectoral point of view, Infra (~5%), IT (~4%), Metal (~4%), Bank (~3%) and Pharma (~3%) were the top gainers, while, FMCG (~1%) was the top loser. During the period, FIIs bought equities to the tune of ~Rs 7,489 Cr and DIIs bought equities to the tune of ~Rs 72,674 Cr. FPIs were net buyers of Indian equities to the tune of Rs 14,590 Cr.

EQUITY

Nifty 50 is trading at 22.9x/19.8x FY26E/FY27E earnings. Mid & small caps have already outperformed, on expectations of better earnings, driven by consumption and margin expansion. Going forward, the focus will be on quarterly earnings and management guidance for the full year. This will bring back the focus of the markets on fundamentals for valuation support. Buoyancy in global markets—especially the US, along with stable domestic cues suggests that the prevailing trend is likely to continue with a strong emphasis on stock selection.

FIXED INCOME

Despite front loaded rate cuts, yields drifted upwards during the month. G-Sec yields are expected to remain rangebound between 6.25% - 6.50%. Given broader fiscal and macroeconomic strength, price of crude, US Treasury yields and inflation trajectory remain the key factors which could influence the yields in the near-term.

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 14-Jul-2025

Sr. No.1
Fund
Segregated Fund Identification No.
NAV

1	Balanced fund	ULIF 001 18/02/09 SUD-LI-BL1 142	41.2136	SD001
2	Equity Fund	ULIF 002 25/02/09 SUD-LI-EQ1 142	82.4349	SD002
3	Bond Fund	ULIF 004 25/02/09 SUD-LI-BN1 142	30.3151	SD003
4	Growth Fund	ULIF 003 25/02/09 SUD-LI-GR1 142	71.1197	SD004
5	Individual Pension Fund - Equity	ULIF 005 31/03/09 SUD-PI-EQ1 142	70.2496	SD005
6	Individual Pension Fund - Bond	ULIF 008 31/03/09 SUD-PI-BN1 142	30.0277	SD006
7	Individual Pension Fund - Growth	ULIF 006 31/03/09 SUD-PI-GR1 142	56.3601	SD007
8	Individual Pension Fund - Balanced	ULIF 007 31/03/09 SUD-PI-BL1 142	40.7561	SD008
9	Apex Equity Fund	ULIF 009 20/01/10 SUD-LA-EQ1 142	47.4499	SD009
10	Apex Bond Fund	ULIF 012 20/01/10 SUD-LA-BN1 142	29.7200	SD010
11	Apex Growth Fund	ULIF 010 20/01/10 SUD-LA-GR1 142	43.7878	SD011
12	Apex Balanced Fund	ULIF 011 20/01/10 SUD-LA-BL1 142	39.9551	SD012
13	Individual Pension Fund - Apex Equity	ULIF 013 20/01/10 SUD-PA-EQ1 142	47.7364	SD013
14	Individual Pension Fund - Apex Bond	ULIF 016 20/01/10 SUD-PA-BN1 142	28.6469	SD014
15	Individual Pension Fund - Apex Growth	ULIF 014 20/01/10 SUD-PA-GR1 142	42.6722	SD015
16	Individual Pension Fund - Apex Balanced	ULIF 015 20/01/10 SUD-PA-BL1 142	38.9830	SD016
17	Express Balanced Fund	ULIF 017 29/04/11 SUD-LX-BL1 142	21.5715	SD017
18	Discontinued Fund	ULIF 018 03/06/11 SUD-UL-DP1 142	23.6307	SD018
19	Individual Life - Bluechip Equity Fund	ULIF 019 11/12/13 SUD-LI-EQ2 142	35.1793	SD019
20	Individual Life - Income Fund	ULIF 020 11/12/13 SUD-LI-BN2 142	21.9473	SD020
21	Individual Life - Growth Plus Fund	ULIF 023 11/12/13 SUD-LI-GR2 142	31.8279	SD023
22	Individual Life - Balanced Plus Fund	ULIF 024 11/12/13 SUD-LI-BL2 142	26.2005	SD024
23	Unclaimed Policies Unit Linked Fund	ULIF 025 09/11/16 SUD-LN-UUF142	16.1357	SD029
24	Group Debt Fund	ULGF 003 20/03/15 SUD-GN-BN1 142	19.5435	SD027
25	Growth Fund	ULGF 004 20/03/15 SUD-GN-MM1 142	13.3803	SD028
26	Group Balanced Fund	ULGF 002 20/03/15 SUD-GN-BL1 142	15.7583	SD026
27	Individual Life - Mid Cap Fund	ULIF 026 14/10/19 SUD-LI-MID 142	23.5308	SD030
28	Individual Life - Gilt Fund	ULIF 027 14/10/19 SUD-LI-GLT 142	13.3521	SD031
29	Dynamic Fund	ULIF 028 11/06/21 SUD-LI-DYN 142	13.8955	SD032
30	Money Market Fund	ULIF 029 11/06/21 SUD-LI-MMF 142	12.1448	SD033
31	Pension Equity Plus Fund	ULIF 030 08/09/23 SUD-PI-EQ2 142	11.4367	SD034
32	Pension Growth Plus Fund	ULIF 031 08/09/23 SUD-PI-GR2 142	11.4004	SD035
33	Pension Balanced Plus Fund	ULIF 032 08/09/23 SUD-PI-BL2 142	11.3790	SD036
34	Pension Gilt Plus Fund	ULIF 033 08/09/23 SUD-PI-GL2 142	11.4130	SD037
35	Pension Discontinued Policy Fund	ULIF 021 10/04/13 SUD-PA-DP2 142	10.6220	SD038
36	Viksit Bharat Fund	ULIF 039 28/10/24 SUD-LI-VB1 142	9.8216	SD039
37	New India Leaders Fund	ULIF 038 28/10/24 SUD-LI-NL1 142	10.1462	SD040
38	Midcap Momentum Index Fund	ULIF 034 27/12/24 SUD-LI-NMM 142	10.9197	SD041
39	Nifty Alpha 50 Index Pension Fund	ULIF 040 13/05/25 SUD-PI-ALP 142	9.9129	SD042

Fund Philosophy

FUND
MANAGEMENT
TEAM

Get to know the
fund management team
at our company

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.

HEAD OF FIXED INCOME

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),Fellow of Life Insurance from Insurance Institute of India.

Experience: More than two decades 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.

Fund Manager - Equity

Qualifications: Chartered Accountant

Experience: More than 20+ years of experience as an Equity Research Analyst for the Indian markets both on the buy side as well as sell side.

Prior to joining SUD Life, he was a senior Equity Research Analyst with Principal Asset Management covering multiple sectors.

He has also been associated with SBICAP Securities and Avendus Securities in the past..

Awarded Reuters Star Mine award for stock picking in Metals and Mining Sector during 2013 and 2014.

FUND MANAGER - FIXED INCOME

Qualifications: MBA (Finance) & B.E. (Mechanical)

Experience: 10+ years of experience in fixed income markets across rating agencies and Investment banks.

Prior to joining SUD Life, he was working as senior analyst with ICRA Ltd,He has also been associated with Deutsche bank, Credit Suisse and CRISIL Ltd.

Fund Manager, Alternate Assets and Lead Analyst, Macro and Credit

Qualifications: MBA, CFA, B.E. (Hons)

Experience: More than a decade’s experience across investing (public & private markets ), corporate finance & strategy.

Prior experience includes stints at Goldman Sachs Asset Management, VC fund Jupiter Capital and education start-up XSeed.

Fund Manager - Equity

Qualifications: CA, CFA

Experience: More than 7 years of experience as an Equity Research Analyst in Indian markets both in buy side as well as sell side.

Prior to joining SUD Life he has worked in sell side firms like B&K Securities and SMIFS.

Fund Manager - Fixed Income

Qualifications: Masters in Management Studies (Finance) & M.com

Experience: More than a decade of experience in Fixed income markets across investing and dealing in various debt securities.

Funds to maximize
your returns

FUND PHILOSOPHY

OVERVIEW OF MARKET

EQUITY

FIXED INCOME

INVESTOR PHILOSOPHY

COMPANY INITIATIVE

MODIFIED NAVCOMPUTATION

Fund Nav

Sr. No.1

Fund

Segregated Fund Identification No.

NAV

FUND
MANAGEMENT
TEAM

Mr. Prashant Sharma

CHIEF INVESTMENT OFFICER

Mr. Ram Kamal Samanta

HEAD OF FIXED INCOME

Mr. Jimesh Sanghvi

Fund Manager - Equity

Mr. Sujay Nimkar

FUND MANAGER - FIXED INCOME

Mr. Meet Kachhy

Fund Manager, Alternate Assets and Lead Analyst, Macro and Credit

Mr. Anupam Goswami

Fund Manager - Equity

Mr. Harshil Shah

Fund Manager - Fixed Income

CHANGE IN VALUATION OF EQUITY

Funds to maximize your returns

FUND PHILOSOPHY

OVERVIEW OF MARKET

EQUITY

FIXED INCOME

INVESTOR PHILOSOPHY

COMPANY INITIATIVE

MODIFIED NAVCOMPUTATION

Fund Nav

Sr. No.1

Fund

Segregated Fund Identification No.

NAV

FUND MANAGEMENT TEAM

Mr. Prashant Sharma

CHIEF INVESTMENT OFFICER

Mr. Ram Kamal Samanta

HEAD OF FIXED INCOME

Mr. Jimesh Sanghvi

Fund Manager - Equity

Mr. Sujay Nimkar

FUND MANAGER - FIXED INCOME

Mr. Meet Kachhy

Fund Manager, Alternate Assets and Lead Analyst, Macro and Credit

Mr. Anupam Goswami

Fund Manager - Equity

Mr. Harshil Shah

Fund Manager - Fixed Income

CHANGE IN VALUATION OF EQUITY

Funds to maximize
your returns

FUND
MANAGEMENT
TEAM