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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

In the month of May, Indian equity markets maintained its winning streak, as Nifty gained 1.7% for the month. While its mid-cap and small-cap counterparts gained, 6.1% and 8.7%, respectively, still being 9-10% lower from historical highs in Sep’24. Healthy inflows from FIIs and DIIs supported the momentum. As and when US announced 90-days tariff pause, global markets also became jubilant, with major indices paring most of the loses of the previous months. The 4QFY25 corporate earnings concluded on a strong note, showcasing widespread outperformance across aggregates, metals, OMCs, PSU Banks, automobiles, healthcare, technology and Capital Goods. Oil & Gas (ex-OMCs) and Private Banks dragged down the overall profitability. Nifty reported a single-digit profit growth for the fourth successive quarter since the pandemic (Jun’20).

While on the fixed income front, India 10-year paper was trading in the range of 6.3-6.4 levels, as the April Inflation print came in better than expected, disclosing CPI being lowest since July’19, paper softened by 10-15 bps. During the period, RBI transferred record dividend of Rs 2.7 Lakh Cr to the central government, which will further improve the liquidity conditions. Q4 FY25 GDP growth figure also came in as a positive surprise, as the economy grew by 7.4% during the quarter, vis-a-vis RBI forecast of 7.2% growth.According to IMD, India is most likely to have above normal monsoon, having 106% of Long Period Average rainfall. The southwest monsoon came early to the country, earliest since 2009, which has raised some concerns for Kharif sowing and hurts the prospects of favourable food inflation going forward.

From a sectoral point of view, Metal (~7%), Energy (~5%), Auto (~4%) and IT (~4%) were the top gainers, while, Pharma (~2%) and FMCG (~2%) were the top losers. During the period, FIIs bought equities to the tune of ~Rs 11,773 Cr and DIIs bought equities to the tune of ~Rs 67,642 Cr. FPIs were net buyers of Indian equities to the tune of Rs 19,860 Cr.

EQUITY

The Nifty currently trades at 22x FY26e earnings, near to its historical average of 20x. Global macros such as trade wars and unsustainable strong earnings momentum poses near term challenges, may keep the market volatile and jittery. In this current environment, we will have distinct bias towards large caps and special focus on domestic rural consumption plays, with the expectation of stable monsoon.

FIXED INCOME

India’s fixed income market is likely to be driven by strong growth momentum, supportive fiscal policies and easing inflationary conditions. Government bond yields are still attractive, with potential RBI rate cuts likely to enhance returns. However, global trade uncertainties and rising U.S. yields pose risks. Investors should prioritize high-quality, shorter-duration securities to balance income and volatility. Active management is essential to seize opportunities in India’s resilient macro environment, ensuring portfolios remain agile amid potential external disruptions.

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-Jul-2025

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

1	Balanced fund	ULIF 001 18/02/09 SUD-LI-BL1 142	41.4932	SD001
2	Equity Fund	ULIF 002 25/02/09 SUD-LI-EQ1 142	83.2975	SD002
3	Bond Fund	ULIF 004 25/02/09 SUD-LI-BN1 142	30.2663	SD003
4	Growth Fund	ULIF 003 25/02/09 SUD-LI-GR1 142	71.6297	SD004
5	Individual Pension Fund - Equity	ULIF 005 31/03/09 SUD-PI-EQ1 142	70.9896	SD005
6	Individual Pension Fund - Bond	ULIF 008 31/03/09 SUD-PI-BN1 142	29.9757	SD006
7	Individual Pension Fund - Growth	ULIF 006 31/03/09 SUD-PI-GR1 142	56.7175	SD007
8	Individual Pension Fund - Balanced	ULIF 007 31/03/09 SUD-PI-BL1 142	41.1266	SD008
9	Apex Equity Fund	ULIF 009 20/01/10 SUD-LA-EQ1 142	47.9370	SD009
10	Apex Bond Fund	ULIF 012 20/01/10 SUD-LA-BN1 142	29.6880	SD010
11	Apex Growth Fund	ULIF 010 20/01/10 SUD-LA-GR1 142	44.1720	SD011
12	Apex Balanced Fund	ULIF 011 20/01/10 SUD-LA-BL1 142	40.3004	SD012
13	Individual Pension Fund - Apex Equity	ULIF 013 20/01/10 SUD-PA-EQ1 142	48.2220	SD013
14	Individual Pension Fund - Apex Bond	ULIF 016 20/01/10 SUD-PA-BN1 142	28.5780	SD014
15	Individual Pension Fund - Apex Growth	ULIF 014 20/01/10 SUD-PA-GR1 142	42.9660	SD015
16	Individual Pension Fund - Apex Balanced	ULIF 015 20/01/10 SUD-PA-BL1 142	39.1246	SD016
17	Express Balanced Fund	ULIF 017 29/04/11 SUD-LX-BL1 142	34.3254	SD017
18	Discontinued Fund	ULIF 018 03/06/11 SUD-UL-DP1 142	23.5847	SD018
19	Individual Life - Bluechip Equity Fund	ULIF 019 11/12/13 SUD-LI-EQ2 142	35.5412	SD019
20	Individual Life - Income Fund	ULIF 020 11/12/13 SUD-LI-BN2 142	21.9397	SD020
21	Individual Life - Growth Plus Fund	ULIF 023 11/12/13 SUD-LI-GR2 142	32.0635	SD023
22	Individual Life - Balanced Plus Fund	ULIF 024 11/12/13 SUD-LI-BL2 142	26.2643	SD024
23	Unclaimed Policies Unit Linked Fund	ULIF 025 09/11/16 SUD-LN-UUF142	16.1100	SD029
24	Group Debt Fund	ULGF 003 20/03/15 SUD-GN-BN1 142	19.5194	SD027
25	Growth Fund	ULGF 004 20/03/15 SUD-GN-MM1 142	13.3544	SD028
26	Group Balanced Fund	ULGF 002 20/03/15 SUD-GN-BL1 142	15.7705	SD026
27	Individual Life - Mid Cap Fund	ULIF 026 14/10/19 SUD-LI-MID 142	23.6051	SD030
28	Individual Life - Gilt Fund	ULIF 027 14/10/19 SUD-LI-GLT 142	13.3465	SD031
29	Dynamic Fund	ULIF 028 11/06/21 SUD-LI-DYN 142	13.9749	SD032
30	Money Market Fund	ULIF 029 11/06/21 SUD-LI-MMF 142	12.1257	SD033
31	Pension Equity Plus Fund	ULIF 030 08/09/23 SUD-PI-EQ2 142	11.5611	SD034
32	Pension Growth Plus Fund	ULIF 031 08/09/23 SUD-PI-GR2 142	11.4869	SD035
33	Pension Balanced Plus Fund	ULIF 032 08/09/23 SUD-PI-BL2 142	11.4065	SD036
34	Pension Gilt Plus Fund	ULIF 033 08/09/23 SUD-PI-GL2 142	11.4032	SD037
35	Pension Discontinued Policy Fund	ULIF 021 10/04/13 SUD-PA-DP2 142	10.6082	SD038
36	Viksit Bharat Fund	ULIF 039 28/10/24 SUD-LI-VB1 142	9.9404	SD039
37	New India Leaders Fund	ULIF 038 28/10/24 SUD-LI-NL1 142	10.1823	SD040
38	Midcap Momentum Index Fund	ULIF 034 27/12/24 SUD-LI-NMM 142	11.1515	SD041
39	Nifty Alpha 50 Index Pension Fund	ULIF 040 13/05/25 SUD-PI-ALP 142	10.1609	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