Invest Wisely To Make Your Dreams Come True: July, 2010

The monthly fund performance update
July, 2010
(As on June 30, 2010)
Our Investment Philosophy

As one of the leading private life
insurance companies, we know that
Invest Wisely To Make our customers trust their monies with
us to attain their long-term goals and
to protect and achieve the dreams
Your Dreams Come True and aspirations of their families.
With this in mind, our investment

focus is to ensure long term Safety,
Stability and Profitability of our
customers' funds.
Our aim is to achieve superior returns

for a given level of risk. In order to
meet this objective, we have
developed an investment framework
that is based on a sound investment
process coupled with a rigorous and
sophisticated risk management
strategy.
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Performance Summary
As on June 30, 2010
Annualized Returns Equity Market Debt Market

Annualised returns (Fund) 5 Year Sharpe Ratio
(Benchmark) Date of Movement of Sensex and Nifty Yield Curve Jun-10 May-10
Fund Inception Sensex Nifty
9%
Since Since 19,000 6,500
3 Year 5 Year 3 Year 5 Year Fund Benchmark
Inception Inception 18,500 6,000 8%
18,000 5,500 7%
Preserver 8.75% 8.04% 7.49% 6.12% 6.20% 5.85% 4.98 1.33 17-May-04 17,500 5,000
6%
Protector* 8.80% 7.25% 7.11% 6.95% 5.63% 5.93% 0.50 0.12 15-Nov-01 17,000 4,500
16,500 4,000 5%
Balancer* 10.61% 13.02% 14.20% 8.59% 11.61% 11.93% 0.76 0.60 15-Nov-01 16,000 3,500 4%
10-Jun
11-Jun
14-Jun
15-Jun
16-Jun
17-Jun
18-Jun
21-Jun
22-Jun
23-Jun
24-Jun
25-Jun
28-Jun
29-Jun
30-Jun
6m 1y 2y 3y 4y 5y 6y 10y 30y
1-Jun
2-Jun
3-Jun
4-Jun
7-Jun
8-Jun
9-Jun
Maximiser 10.15% 20.47% 24.52% 7.47% 19.95% 21.34% 0.73 0.65 15-Nov-01 Maturity
Flexi Growth 8.55% N.A. 12.36% 6.82% N.A. 11.83% NA NA 20-Mar-07

Flexi Balanced 8.23% N.A. 10.34% 8.34% N.A. 11.00% NA NA 20-Mar-07 Equity: Fixed Income:
The Nifty gained 4.5% during the month as domestic events The debt market started the month on a bearish note on the
Multiplier N.A. N.A. -0.58% N.A. N.A. -2.88% NA NA 26-Nov-07 dominated the market sentiment in the absence significant back of tight liquidity conditions in the system and strong
R.I.C.H. Fund N.A. N.A. 13.72% N.A. N.A. 9.20% NA NA 17-Mar-08 developments in international markets and the European domestic economic data releases. The IIP data for the month
debt crisis taking a backseat. On the domestic front, strong of April was seen at 17.6% against a consensus estimate of
Pension Preserver 8.61% 7.94% 7.33% 6.12% 6.20% 5.85% 3.91 1.33 17-May-04 IIP growth numbers for April and significantly higher than 14.5%. WPI inflation for May was seen at 10.16% which was
Pension Protector 8.65% 7.18% 7.26% 6.95% 5.63% 6.01% 0.51 0.12 31-May-02 estimated revenues from the 3G auction impacted sentiment far higher than the market expectation of 9.6%. However,
positively. Further, the de-regulation of petrol and increase in towards the end of the month, yields eased on the back of
Pension Balancer 9.38% 12.57% 14.86% 8.59% 11.61% 12.63% 0.76 0.60 31-May-02 other fuel prices was very well received by the equity markets. global cues. The government also reduced the size of the
Pension Maximiser 9.40% 20.55% 26.25% 7.47% 19.95% 23.03% 0.72 0.65 31-May-02 This led to a strong share performance of the upstream and auction scheduled to be held on July 2, 2010 by Rs. 3,000
down stream oil companies. The foreign flows once again crores. The benchmark 10 year bond closed almost flat at a
Pension Flexi Growth 7.57% N.A. 11.73% 6.82% N.A. 11.83% NA NA 20-Mar-07 turned positive for the month of June. FIIs, who were net yield of 7.55% as on June 30, 2010. The government hiked
sellers in May, bought Rs. 97 bn of Indian equities in June. the prices of petrol, diesel, kerosene and LPG by Rs. 3.5, Rs.2,
Pension Flexi Balanced 8.68% N.A. 11.39% 8.34% N.A. 11.00% NA NA 20-Mar-07
However, concerns regarding global economic growth losing Rs. 3 and Rs. 35 respectively. The RBI also hiked the repo and
Pension Multiplier Fund N.A. N.A. 3.21% N.A. N.A. 0.91% NA NA 25-Feb-08 steam continued to linger on market sentiment. reverse repo rates by 0.25% each as an inter-policy move.
Consequently, the commodity stocks were amongst the
Pension R.I.C.H. Fund N.A. N.A. 13.31% N.A. N.A. 9.20% NA NA 17-Mar-08 worst performers for the month. Thus, on the back of weak The main drivers for the movement in government securities
global sentiment and positive domestic news markets have yields last month were concerns on liquidity and economic
* From the date of inception of the benchmark (2-April-2002)
been volatile but largely range bound. data releases. While the liquidity crunch in the system kept
the short term yields under pressure, the strong domestic
Outlook data releases built up expectations of a mid policy hike in the
KEY INDICATORS We have a neutral view on the markets for the short term.
Recent economic data in the US have been below estimates
rates. However, developments on the global front helped the
domestic bond market recoup some of the losses. At the G-
indicating that economic recovery could be losing pace. This
Jun 30, May 31, Equity Indices Jun 30, May 31, % Change
20 economic summit, the world leaders committed to reduce
Economic Indicators Change 2010 2010
could lead to risk aversion. On the domestic front the growth the fiscal deficit to half by 2013. The safe haven treasuries
2010 2010 data continues to be extremely robust. IIP for April grew thereby became appealing on concerns that huge deficit
BSE SENSEX 17,701 16,945 4.5 17.6% yoy. However, the robust growth is also leading to reductions could slow global economic growth and prevent a
Rs/$ 46.45 46.37 0.17% inflation and in fact, may inflation came in higher than viable recovery. The Federal Reserve's wary economic outlook
Forex Reserve($ bn) 275.97 271.97 1.47% S&P CNX NIFTY (50) 5,313 5,086 4.5 expected at 10.2%. Further, inflation for the month of March and decision to leave short-term interest rates steady near
INDIA BSE MIDCAP 7,149 6,835 4.6 was revised up from 9.9% to 11%. This could lead to increase historic lows also helped Treasury’s extend gains. These
Oil Price ($/barrel) 75.63 75.16 0.63% in interest rates by the Reserve Bank of India to moderate global factors helped the domestic bond market towards the
Gold (Rs. / 10 gm) 18,805 18,377 2.33% CNX MIDCAP INDEX 8,131 7,756 4.8 growth momentum. Also, Corporate India will get into end of the month. The Indian Rupee depreciated to 46.45
reporting season for the first quarter of FY11 in month of July. against the dollar as on June 30, 2010.
FII Fund flow (INR mn) 102,445 -91,747 194,192 This will be crucial data to watch for markets are anticipating
MF Fund flow (INR mn) -9,612 986 -10,598 Jun 30, May 31, ~25% growth in earnings for FY11 and the first quarter Outlook:
Global Indices % Change number will be the first measure of how the performance is We maintain our bearish outlook on the bond market. We
DII Fund flow (INR mn) -47,771 63,612 -111,382 2010 2010 tracking vis-a-vis expectations. From a medium term expect the recent fuel price hikes to have an incremental
DII-MF fund flow (INR mn) -38,159 62,626 -100,784 Dow Jones Industrials 9,774 10,137 -3.6 perspective, Indian markets have performed better than their effect of 1% on the headline WPI inflation. The WPI has
emerging market peers and valuations are currently ~ 20% already crossed the 10% mark in the month of May. We
Hang Seng 20,129 19,765 1.8 above long-term mean. What this means is that the market is expect the inflation to remain in double digits till October.
FTSE 100 4,917 5,188 -5.2 likely to remain range bound in the near future. Over the Rising inflation, huge borrowing program and rising private
Jun 30, 2010 May 31, 2010 long-term the Indian economy will likely report double-digit sector credit demand will put pressure on the yields. We
Nikkei 225 Stock Average 9,383 9,769 -4.0 nominal growth numbers, in annualized terms, and we expect the benchmark 10 year bond to trade in the range of
Monthly Inflation (WPI) 10.16% 9.59%
expect that to lead to similar returns for investors in Indian 7.40%-7.70% for the next few weeks. We expect the RBI to
equities. increase the repo and reverse repo rates by 0.25% in the
GDP Growth Rate
Fixed Income Jun 30, May 31, policy meeting to be held on July 27, 2010. On the currency
5 year CAGR FY 2009 3m-2010 % Change
Yields 2010 2010 front, the US Dollar is expected to remain strong for
8.40% 9.00% 6.70% sometime with concerns lingering over the European debt
NSE Mibor 5.73% 5.25% 0.48% laden countries and weak global economic data. We expect
the Indian rupee to remain weak against the dollar over the
Benchmark 5 year G-Sec 7.37% 7.38% -0.01%
1yr 3yr 5yr next few weeks. However, from a medium term perspective,
Returns 5 year AAA 8.22% 8.19% 0.03% we expect Rupee to appreciate against the US dollar in
coming months.
BSE 100 24.73 7.48 19.97 10 year G-Sec 7.55% 7.52% 0.03%
CRISIL Bond Index 4.69% 6.95% 5.63% 10 year AAA 8.70% 8.68% 0.02%
Pension Funds InvestShield Funds
ULIP Funds
Balancer Protector Maximiser Preserver
Multiplier RICH Flexi Balanced Flexi Growth
Balancer
As on June 30, 2010
FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

To provide a balance between long-term capital appreciation and
NAV*** Rs.
current income through investment in equity as well as fixed income AUM (Rs. Million): 22,028.37
Balancer Fund 33.53
instruments in appropriate proportions depending on market
Balancer Fund II 22.55
conditions prevalent from time to time. Allocation in
Balancer Fund III 15.51 Asset Allocation
Balancer Fund IV 13.6 Fund
RISK PROFILE EQUITY 38.21%
Expected return
DEBT 58.63%
ANNUALIZED RETURNS OTHER CURRENT ASSETS AND EQUIVALENT 3.16%
16.00%
TOTAL 100.00%
14.00% Allocation as a
Top 5 Sectors In Equity
% in Equity
12.00% OIL & GAS 17.28%
10.00% BANKING 16.44%
Risk TECHNOLOGY 10.27%
8.00% CAPITAL GOODS 9.24%
APPLICABLE PRODUCTS 6.00% FINANCE 8.93%
Product Balancer 4.00% Allocation as a

Top 10 Equity Stocks
LifeStage Regular Premium IV % in Equity
LifeStage Assure IV 2.00%
H D F C BANK LTD. 8.93%
LifeTime Plus II 0.00% RELIANCE INDUSTRIES LTD. 8.39%
LifeTime Gold I BHARAT HEAVY ELECTRICALS LTD. 7.84%
3 Year 5 Year Since inception*
LifeTime Super I INFOSYS TECHNOLOGIES LTD. 6.33%
LifeTime II I Balancer Benchmark AXIS BANK LTD. 5.33%
LifeTime I
OIL & NATURAL GAS CORPN. LTD. 5.07%
PremierLife Gold II * calculated with effect from 2-Apr-02, as benchmark did not exist I T C LTD. 4.73%
PremierLife II before this date MAHINDRA & MAHINDRA LTD. 4.56%
Wealth Advantage II
BAJAJ HOLDINGS & INVST. LTD. 4.21%
LifeLink Super III NAV GROWTH
LifeLink II II
STERLITE INDUSTRIES (INDIA) LTD. 3.92%
LifeLink I
SmartKid New Unit Linked Regular Premium II
34 Debt Asset Allocation Allocation in Fund
32 GOVERNMENT SECURITIES/ T BILLS 13.89%
SmartKid Unit Linked Regular Premium Plan II I
SmartKid Unit Linked Regular Premium Plan I 30 CORPORATE SECURITIES 41.06%
SmartKid New Unit Linked Single Premium II 28 AAA AND EQUIVALENT 34.41%
SmartKid Single Premium II I 26 AA+ AND EQUIVALENT 4.26%
SmartKid Single Premium I AA EQUIVALENT AND BELOW 2.39%
24
Golden Years II CORPORATE MONEY MARKET SECURITIES 3.68%
22
COMMERCIAL PAPER (P1+
DATE OF INCEPTION: Nov 16, 2001 20 AND EQUIVALENT) 3.68%
18 CERTIFICATE OF DEPOSIT (P1+ AND
ASSET ALLOCATION 16 EQUIVALENT) 0.00%
FIXED DEPOSITS WITH BANKS 0.00%
Indicative Portfolio Allocation Max (%) Min (%) 14
Equity & equity related securities 40 0 12
Average Maturity of Debt Portfolio (Months) 62.19
Debt, Money Market & Cash 100 60 10
Average Maturity of Debt Benchmark (Months) 39.2
Apr-02 Aug-03 Dec-04 May-06 Sep-07 Feb-09 Jun-10
Yield to Maturity of Debt Portfolio 7.45%
BENCHMARK
35% BSE 100&65% CRISIL Composite Bond Index Balancer Benchmark
*** Last Declared NAV (June 30, 2010)
For full portfolio details please Click Here

ULIP Funds
Protector
As on June 30, 2010

To provide accumulation of income through investment in various
NAV*** Rs.
fixed income securities. The fund seeks to provide capital appreciation AUM (Rs. Million): 14,571.73
Protector Fund 19.7074
while maintaining a suitable balance between return, safety and
Protector Fund II 15.0955
liquidity.
Protector Fund III 13.9047 Asset Allocation Allocation in Fund
Protector Fund IV 12.9587 GOVERNMENT SECURITIES/ T BILLS 19.53%
RISK PROFILE
CORPORATE SECURITIES 59.50%
Expected return
AAA AND EQUIVALENT 49.25%

ANNUALIZED RETURNS AA+ AND EQUIVALENT 5.34%
AA EQUIVALENT AND BELOW 4.91%
10.00%
CORPORATE MONEY MARKET SECURITIES 12.21%
9.00% COMMERCIAL PAPER (P1+ AND
8.00% EQUIVALENT) 12.21%
CERTIFICATE OF DEPOSIT (P1+
7.00%
AND EQUIVALENT) 0.00%
6.00% FIXED DEPOSITS WITH BANKS 3.93%
Risk OTHER CURRENT ASSETS AND
5.00%
4.00% EQUIVALENT 4.83%
APPLICABLE PRODUCTS
3.00% TOTAL 100.00%
Product Protector
LifeStage Regular Premium IV 2.00%
LifeStage Assure IV 1.00% Portfolio By Maturity Allocation in
LifeTime Plus II Fund
0.00%
LifeTime Gold I < 1 year 27.80%
3 Year 5 Year Since inception*
LifeTime Super I 1-5 years 48.37%
LifeTime II I Protector Benchmark 5-7 years 1.61%
LifeTime I 7-10 years 10.30%
PremierLife Gold II
* calculated with effect from 2-Apr-02, as benchmark did not exist
> 10 years 11.92%
PremierLife II before this date
TOTAL 100.00%
Wealth Advantage II
LifeLink Super III Average Maturity of Debt Portfolio (Months) 49.91
NAV GROWTH
LifeLink II II Average Maturity of Benchmark (Months) 39.2
LifeLink I 20.00 Yield to Maturity of Debt Portfolio 7.3%
SmartKid Unit Linked Regular Premium Plan II I 19.00
SmartKid Unit Linked Regular Premium Plan I 18.00 *** Last Declared NAV (June 30, 2010)
SmartKid New Unit Linked Single Premium II
SmartKid Single Premium II I 17.00
SmartKid Single Premium I
16.00
Golden Years II
15.00
DATE OF INCEPTION: Nov 16, 2001 14.00
13.00
ASSET ALLOCATION
Indicative Portfolio Allocation Max (%) Min (%) 12.00
Equity & equity related securities 0 0
11.00
Debt, Money Market & Cash 100 100 Apr-02 Aug-03 Jan-05 May-06 Sep-07 Feb-09 Jun-10
BENCHMARK Protector Benchmark

CRISIL Composite Bond Index

ULIP Funds
Maximiser
As on June 30, 2010

To generate long-term capital appreciation through investment
NAV*** Rs.
primarily in equity and equity-related instruments. AUM (Rs. Million): 100,810.66
Maximiser Fund 66.32
Maximiser Fund II 36.75
RISK PROFILE Allocation in
Maximiser Fund III 16.77 Asset Allocation
Maximiser Fund IV 13.09 Fund
Expected return
EQUITY 98.52%
DEBT AND OTHER CURRENT ASSETS &
ANNUALIZED RETURNS EQUIVALENT 1.48%
TOTAL 100.00%
30.00%
Allocation as a
Sector Allocation % in Equity
25.00%
BANKING 17.77%
Risk OIL & GAS 16.06%
20.00%
CAPITAL GOODS 10.25%
APPLICABLE PRODUCTS TECHNOLOGY 10.00%
15.00% AUTO 8.83%
Product Maximiser METALS & MINERALS 8.46%
LifeStage Regular Premium IV 10.00% CONSUMER 7.92%
LifeTime Plus II FINANCE 5.43%
LifeTime Super I 5.00% CEMENT 3.43%
LifeTime II I TELECOM 2.87%
LifeTime I 0.00% PHARMA & HEALTHCARE 2.57%
PremierLife Gold II EPC 1.81%
PremierLife II 3 Year 5 Year Since inception
REAL ESTATE 1.76%
LifeLink Super III Maximiser Benchmark RETAIL 1.63%
LifeLink II II OTHERS 0.91%
LifeLink I NAV GROWTH INFRASTRUCTURE 0.27%
MEDIA 0.04%
SmartKid Unit Linked Regular Premium Plan I Allocation as a
Top 20 Equity stocks
SmartKid New Unit Linked Single Premium II 64.00 % in Equity
SmartKid Single Premium II I RELIANCE INDUSTRIES LTD. 9.28%
SmartKid Single Premium I 56.00 H D F C BANK LTD. 9.22%
Golden Years II BHARAT HEAVY ELECTRICALS LTD. 8.64%
48.00 INFOSYS TECHNOLOGIES LTD. 6.80%
AXIS BANK LTD. 5.55%
40.00
MAHINDRA & MAHINDRA LTD. 5.18%
32.00
I T C LTD. 4.79%
DATE OF INCEPTION: Nov 16, 2001 OIL & NATURAL GAS CORPN. LTD. 4.43%
24.00 STERLITE INDUSTRIES (INDIA) LTD. 4.41%
ASSET ALLOCATION BHARTI AIRTEL LTD. 2.87%
Indicative Portfolio Allocation Max (%) 16.00 JINDAL STEEL & POWER LTD. 2.78%
Min (%)
Equity & equity related securities 100 75 DABUR INDIA LTD. 2.69%
8.00 TATA CONSULTANCY SERVICES LTD. 2.63%
Debt, Money Market & Cash 25 0 Nov-01 Apr-03 Oct-04 Mar-06 Aug-07 Jan-09 Jun-10 LUPIN LTD. 2.57%
SHRIRAM TRANSPORT FINANCE CO. LTD. 2.36%
BENCHMARK Maximiser Benchmark HERO HONDA MOTORS LTD. 2.09%
BSE 100 A C C LTD. 1.94%
PANTALOON RETAIL (INDIA) LTD. 1.63%
RURAL ELECTRIFICATION CORPN. LTD. 1.38%

ULIP Funds
Preserver
As on June 30, 2010

To provide suitable returns through low risk investments in debt and
NAV*** Rs.
money market instruments while attempting to protect the capital AUM (Rs. Million): 3,737.97
Preserver Fund 15.5603
deployed in the fund.
Preserver Fund III 14.0507
RISK PROFILE Preserver Fund IV 12.565 Asset Allocation Allocation in Fund
GOVERNMENT SECURITIES/ T BILLS 0.22%
Expected return
ANNUALIZED RETURNS AAA AND EQUIVALENT 0.75%

AA+ AND EQUIVALENT 0.00%
10.00% AA EQUIVALENT AND BELOW 0.00%
COMMERCIAL PAPER (P1+ AND
CERTIFICATE OF DEPOSIT (P1+ AND
EQUIVALENT) 0.00%
Risk 6.00%
OTHER CURRENT ASSETS AND EQUIVALENT 0.82%
APPLICABLE PRODUCTS 4.00% TOTAL 100.00%
Product Preserver
LifeStage Regular Premium IV Portfolio by Maturity Allocation in
2.00% Fund
LifeStage Assure IV
LifeTime Plus I < 1 YEAR 100.00%
LifeTime Gold I 0.00% 1- 5 YEARS 0.00%
LifeTime Super I 5 - 7 YEARS 0.00%
3 Year 5 Year Since inception
LifeTime II I 7- 10 YEARS 0.00%
LifeTime I Preserver Benchmark > 10 YEARS 0.00%
PremierLife Gold II TOTAL 100.00%
PremierLife I
Wealth Advantage I NAV GROWTH Average Maturity of Debt Portfolio (Months) 5.86
LifeLink Super III
16.00 Average Maturity of Debt Benchmark (Months) 2.23
LifeLink II I
LifeLink I 15.50 Yield to Maturity of Debt Portfolio 6.33%
SmartKid New Unit Linked Regular Premium I 15.00
14.50
SmartKid Unit Linked Regular Premium Plan I *** Last Declared NAV (June 30, 2010)
SmartKid New Unit Linked Single Premium I 14.00
SmartKid Single Premium II I 13.50
SmartKid Single Premium I
13.00
Golden Years I
12.50
DATE OF INCEPTION: May 17, 2004 12.00
11.50
ASSET ALLOCATION 11.00
10.00
Debt instruments 50 0 Aug-04 Jul-05 Jul-06 Jul-07 Jul-08 Jul-09 Jun-10
Money Market & Cash 100 50
Preserver Benchmark
BENCHMARK
CRISIL Liquid Index

ULIP Funds
Multiplier
As on June 30, 2010

To provide long-term capital appreciation from equity portfolio
NAV*** Rs.
predominantly invested in NIFTY scrips. AUM (Rs. Million): 23,274.06
Multiplier Fund 9.85
Multiplier Fund II 11.07
Multiplier Fund III 10.85 Asset Allocation
Multiplier Fund IV 11.03 Fund
Expected return
EQUITY 97.89%
DEBT AND OTHER CURRENT ASSETS & EQUIVALENT 2.11%
ANNUALIZED RETURNS TOTAL 100.00%
25.00% OIL & GAS 18.23%
BANKING 16.23%
20.00%
METALS & MINERALS 7.27%
APPLICABLE PRODUCTS
10.00% CONSUMER 7.20%
Product Multiplier FINANCE 6.85%
LifeStage Regular Premium IV 5.00% AUTO 6.84%
LifeStage Assure IV INFRASTRUCTURE 2.68%
LifeTime Plus II 0.00% EPC 2.64%
LifeTime Gold I TELECOM 2.52%
LifeTime Super I -5.00%
1 Year Since inception CEMENT 2.35%
LifeTime II I PHARMA & HEALTHCARE 2.22%
LifeTime I OTHERS 1.51%
Multiplier Benchmark
PremierLife Gold II MEDIA 1.49%
PremierLife II REAL ESTATE 0.06%
Wealth Advantage II NAV GROWTH
LifeLink Super III
LifeLink II II 12.00 Allocation as a
LifeLink I % in Equity
SmartKid New Unit Linked Regular Premium II 11.00
INFOSYS TECHNOLOGIES LTD. 8.33%
SmartKid Unit Linked Regular Premium Plan II II H D F C BANK LTD. 8.13%
10.00
SmartKid Unit Linked Regular Premium Plan II RELIANCE INDUSTRIES LTD. 8.10%
SmartKid New Unit Linked Single Premium II 9.00 BHARAT HEAVY ELECTRICALS LTD. 7.45%
SmartKid Single Premium II II I T C LTD. 6.37%
SmartKid Single Premium I 8.00
Golden Years II
7.00 OIL & NATURAL GAS CORPN. LTD. 5.45%
DATE OF INCEPTION: Nov 26, 2007 6.00 TATA CONSULTANCY SERVICES LTD. 3.30%
HOUSING DEVELOPMENT FINANCE CORPN. LTD. 3.24%
5.00
ASSET ALLOCATION MAHINDRA & MAHINDRA LTD. 2.94%
Indicative Portfolio Allocation Max (%) Min (%) 4.00 BHARTI AIRTEL LTD. 2.32%
Equity & equity related securities 100 80 Nov-07 Jul-08 Mar-09 Nov-09 Jun-10 LARSEN & TOUBRO LTD. 1.91%
Debt, Money Market & Cash 20 0 A B B LTD. 1.74%
Multiplier Benchmark
HERO HONDA MOTORS LTD. 1.70%
JINDAL STEEL & POWER LTD. 1.66%
BENCHMARK
MARUTI SUZUKI INDIA LTD. 1.62%
S&P CNX Nifty SHRIRAM TRANSPORT FINANCE CO. LTD. 1.52%
GAIL (INDIA) LTD. 1.46%
JAGRAN PRAKASHAN LTD 1.45%

ULIP Funds
RICH
As on June 30, 2010

To generate superior long-term returns from a diversified portfolio of
NAV*** Rs.
equity and equity related instruments of companies operating in four AUM (Rs. Million): 25,562.99
R.I.C.H. Fund 13.42
important types of industries, viz., Resources, Investment-related,
R.I.C.H. Fund II 13.67
Consumption-related and Human Capital leveraged industries. Allocation in
R.I.C.H. Fund III 13.44 Asset Allocation
R.I.C.H. Fund IV 13.67 Fund
Expected return

25.00% OIL & GAS 15.50%
BANKING 14.23%
20.00% AUTO 8.96%
TECHNOLOGY 8.64%
Risk FINANCE 8.44%
15.00%
APPLICABLE PRODUCTS CONSUMER 7.75%
10.00%
Product RICH EPC 6.36%
LifeStage Regular Premium IV INFRASTRUCTURE 4.08%
LifeStage Assure IV 5.00% PHARMA & HEALTHCARE 4.07%
LifeTime Plus II CAPITAL GOODS 3.73%
LifeTime Gold I 0.00% OTHERS 3.44%
LifeTime Super I 1 Year Since inception CEMENT 2.35%
LifeTime II I TELECOM 1.66%
RICH Benchmark
LifeTime I REAL ESTATE 1.38%
PremierLife Gold II MEDIA 0.59%
PremierLife II NAV GROWTH BROKERS 0.42%
Wealth Advantage II 14.00 FMCG 0.32%
LifeLink Super III
13.00
Allocation as a
LifeLink II II Top 20 Equity Stocks
% in Equity
LifeLink I 12.00
SmartKid New Unit Linked Regular Premium II RELIANCE INDUSTRIES LTD. 7.92%
SmartKid Unit Linked Regular Premium Plan II I 11.00 H D F C BANK LTD. 5.75%
SmartKid Unit Linked Regular Premium Plan I 10.00 LARSEN & TOUBRO LTD. 5.12%
SmartKid New Unit Linked Single Premium II I T C LTD. 4.64%
9.00
SmartKid Single Premium II I HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.60%
SmartKid Single Premium I 8.00 INFOSYS TECHNOLOGIES LTD. 3.44%
Golden Years II AXIS BANK LTD. 3.17%
7.00
MARUTI SUZUKI INDIA LTD. 2.34%
DATE OF INCEPTION: Mar 17, 2008 6.00 BHARAT HEAVY ELECTRICALS LTD. 2.29%
5.00 PUNJAB NATIONAL BANK 2.28%
ASSET ALLOCATION Mar-08 Oct-08 May-09 Dec-09 Jun-10 MAHINDRA & MAHINDRA LTD. 2.16%
RICH Benchmark TATA CONSULTANCY SERVICES LTD. 2.15%
Indicative Portfolio Allocation Max (%) Min (%)
TATA MOTORS LTD. 2.06%
Debt, Money Market & Cash 20 0
BENCHMARK N T P C LTD. 1.83%
BSE 100 DR. REDDY'S LABORATORIES LTD. 1.75%
CAIRN INDIA LTD. 1.56%

ULIP Funds
Flexi Balanced
As on June 30, 2010

To achieve a balance between capital appreciation and stable returns
NAV*** Rs.
by investing in a mix of equity and equity related instruments of large, AUM (Rs. Million): 2,633.88
Flexi Balanced Fund 13.81
mid and small cap companies and debt and debt related instruments.
Flexi Balanced Fund II 14.53
Flexi Balanced Fund III 13.68 Allocation in
RISK PROFILE Asset Allocation
Flexi Balanced Fund IV 12.86 Fund
EQUITY 52.43%
Expected return
DEBT 42.10%
TOTAL 100.00%
20.00%
Allocation as a
Top 5 SectorsIn Equity
% in Equity
15.00%
OIL & GAS 18.62%
BANKING 13.64%
Risk OTHERS 10.14%
APPLICABLE PRODUCTS INFRASTRUCTURE 7.90%
Product Flexi Balanced 5.00% Allocation as a
LifeStage Regular Premium IV Top 10 Equity Stocks
% in Equity
LifeStage Assure IV
LifeTime Plus II OIL & NATURAL GAS CORPN. LTD. 8.90%
0.00% H D F C BANK LTD. 6.88%
LifeTime Gold I
1 Year 3 Year Since inception RELIANCE INDUSTRIES LTD. 6.10%
LifeTime Super I
LifeTime II I MARUTI SUZUKI INDIA LTD. 4.35%
LifeTime I Flexi Balanced Benchmark AXIS BANK LTD. 3.76%
PremierLife Gold II GUJARAT STATE PETRONET LTD. 3.75%
PremierLife II N T P C LTD. 3.66%
Wealth Advantage II NAV GROWTH LUPIN LTD. 3.49%
LifeLink Super III 15.00 TATA CONSULTANCY SERVICES LTD. 3.19%
LifeLink II II 14.50 I T C LTD. 2.92%
LifeLink I
14.00
13.50 Debt Asset Allocation Allocation in Fund
SmartKid Unit Linked Regular Premium Plan I 13.00 GOVERNMENT SECURITIES/ T BILLS 8.20%
SmartKid New Unit Linked Single Premium II 12.50 CORPORATE SECURITIES 18.43%
SmartKid Single Premium II II 12.00 AAA AND EQUIVALENT 15.42%
SmartKid Single Premium I 11.50 AA+ AND EQUIVALENT 2.05%
Golden Years II 11.00
10.50
DATE OF INCEPTION: Mar 20, 2007 COMMERCIAL PAPER (P1+ AND
10.00
EQUIVALENT) 12.63%
9.50
ASSET ALLOCATION CERTIFICATE OF DEPOSIT (P1+ AND
9.00
EQUIVALENT) 0.00%
Indicative Portfolio Allocation Max (%) Min (%) 8.50 FIXED DEPOSITS WITH BANKS 2.84%
Equity & equity related securities 60 0 8.00
Debt, Money Market & Cash 100 40 Mar-07 Jan-08 Nov-08 Sep-09 Jun-10
Flexi Balanced Benchmark Average Maturity of Debt Benchmark (Months) 39.2
BENCHMARK
55% CNX 500 & 45% CRISIL Composite Bond Index Yield to Maturity of Debt Portfolio 7.09%

ULIP Funds
Flexi Growth
As on June 30, 2010

NAV*** Rs.
equity and equity related instruments of large, mid and small cap AUM (Rs. Million): 71,517.87
Flexi Growth Fund 14.66
companies.
Flexi Growth Fund II 15
Flexi Growth Fund III 14.61 Allocation in
RISK PROFILE Asset Allocation
Flexi Growth Fund IV 12.83 Fund
EQUITY 98.22%
Expected return

25.00% OIL & GAS 19.17%
BANKING 15.91%
TECHNOLOGY 8.62%
Risk
APPLICABLE PRODUCTS 15.00% CONSUMER 6.49%
EPC 6.30%
Product Flexi Growth INFRASTRUCTURE 5.90%
LifeStage Regular Premium IV 10.00%
AUTO 5.73%
LifeStage Assure IV OTHERS 5.27%
LifeTime Plus II 5.00% FINANCE 4.14%
LifeTime Gold I PHARMA & HEALTHCARE 2.69%
LifeTime Super I CEMENT 2.33%
LifeTime II I 0.00%
TELECOM 1.84%
LifeTime I 1 Year 3 Year Since inception MEDIA 0.84%
PremierLife Gold II REAL ESTATE 0.09%
PremierLife II
Flexi Growth Benchmark
Wealth Advantage II
LifeLink Super III Allocation as a
LifeLink II II NAV GROWTH Top 20 Equity Stocks
% in Equity
LifeLink I 19.00
SmartKid New Unit Linked Regular Premium II 18.00
SmartKid Unit Linked Regular Premium Plan I LARSEN & TOUBRO LTD. 5.31%
16.00 RELIANCE INDUSTRIES LTD. 4.89%
SmartKid New Unit Linked Single Premium II
SmartKid Single Premium II II 15.00 AXIS BANK LTD. 4.24%
SmartKid Single Premium I 14.00 N T P C LTD. 2.99%
Golden Years II 13.00 I T C LTD. 2.93%
12.00 MARUTI SUZUKI INDIA LTD. 2.91%
DATE OF INCEPTION: Mar 20, 2007 11.00 GAIL (INDIA) LTD. 2.80%
BHARAT HEAVY ELECTRICALS LTD. 2.77%
10.00
ASSET ALLOCATION OIL INDIA LTD. 2.42%
9.00
Equity & equity related securities 100 80 7.00 KANSAI NEROLAC PAINTS LTD. 1.86%
Debt, Money Market & Cash 20 0 6.00 BHARTI AIRTEL LTD. 1.84%
Mar-07 Jan-08 Nov-08 Sep-09 Jun-10
LUPIN LTD. 1.82%
BENCHMARK Flexi Growth Benchmark STERLITE INDUSTRIES (INDIA) LTD. 1.78%
S&P CNX 500 TATA CONSULTANCY SERVICES LTD. 1.71%
GRASIM INDUSTRIES LTD. 1.57%
VOLTAS LTD. 1.56%

ULIP Funds InvestShield Funds
Pension Funds
Pension Balancer Pension Protector Pension Maximiser Pension Preserver
Pension Multiplier Pension RICH Pension Flexi Balanced Pension Flexi Growth
Pension Balancer
As on June 30, 2010

To provide a balance between long-term capital appreciation and
NAV*** Rs.
current income through investment in equity as well as fixed income AUM (Rs. Million): 13,454.18
Pension Balancer Fund 30.67
instruments in appropriate proportions depending on market
Pension Balancer Fund II 22.56
conditions prevalent from time to time. Allocation in
Asset Allocation
Fund
DEBT 56.25%
Expected return

TOTAL 100.00%
16.00%
Top 5 Sectors in Equity
% in Equity
12.00%
OIL & GAS 15.71%
10.00% BANKING 14.99%
8.00% FINANCE 9.65%
CONSUMER 8.03%
APPLICABLE PRODUCTS 6.00%
Product Pension Balancer 4.00% Allocation as a
LifeStage Pension I Top 10 Equity Stocks
% in Equity
LifeTime Super Pension II 2.00%
RELIANCE INDUSTRIES LTD. 9.27%
LifeTime Pension II II
0.00% INFOSYS TECHNOLOGIES LTD. 9.01%
LifeTime Pension I
3 Year 5 Year Since inception H D F C BANK LTD. 7.75%
PremierLife Pension II
LARSEN & TOUBRO LTD. 5.53%
LifeLink Super Pension II
Pension Balancer Benchmark OIL & NATURAL GAS CORPN. LTD. 4.87%
LifeLink Pension II II
LifeLink Pension I NAV GROWTH I T C LTD. 4.75%
32 ALLAHABAD BANK 4.00%
DATE OF INCEPTION: May 30, 2002 30 BHARAT HEAVY ELECTRICALS LTD. 3.93%
LUPIN LTD. 3.37%
28
ASSET ALLOCATION
26
Indicative Portfolio Allocation Max (%) Min (%) Debt Asset Allocation Allocation in Fund
Equity & equity related securities 40 0 24
Debt, Money Market & Cash 100 60 22 CORPORATE SECURITIES 33.21%
20
BENCHMARK AA+ AND EQUIVALENT 3.22%
18 AA EQUIVALENT AND BELOW 1.73%
35% BSE 100 & 65% CRISIL Composite Bond Index
16 CORPORATE MONEY MARKET SECURITIES 6.68%
14
EQUIVALENT) 6.68%
12 CERTIFICATE OF DEPOSIT (P1+ AND
10 EQUIVALENT) 0.00%
8
May-02 Sep-03 Feb-05 Jun-06 Oct-07 Feb-09 Jun-10
Pension Balancer Benchmark Average Maturity of Debt Benchmark (Months) 39.2

Pension Funds
Pension Protector
As on June 30, 2010

To provide accumulation of income through investment in various
NAV*** Rs.
fixed income securities. The fund seeks to provide capital appreciation AUM (Rs. Million): 14,964.51
Pension Protector Fund 17.6233
while maintaining a suitable balance between return, safety and
Pension Protector Fund II 15.0032
liquidity.
Asset Allocation Allocation in Fund
RISK PROFILE GOVERNMENT SECURITIES/ T BILLS 23.51%
Expected return
ANNUALIZED RETURNS
CORPORATE MONEY MARKET
SECURITIES 17.09%
8.00% COMMERCIAL PAPER (P1+ AND
EQUIVALENT) 17.09%
6.00% CERTIFICATE OF DEPOSIT (P1+
Risk AND EQUIVALENT) 0.00%
4.00% OTHER CURRENT ASSETS AND
APPLICABLE PRODUCTS
EQUIVALENT 4.74%
Product Pension Protector TOTAL 100.00%
LifeStage Pension I 2.00%
LifeTime Super Pension II Allocation in
Portfolio by Maturity
0.00% Fund
LifeTime Pension I < 1 year 31.49%
PremierLife Pension II 3 Year 5 Year Since inception
1-5 years 42.88%
Pension Protector Benchmark 5-7 years 1.37%
7-10 years 11.43%
LifeLink Pension I
> 10 years 12.83%
NAV GROWTH
TOTAL 100.00%
DATE OF INCEPTION: May 31, 2002 18.50
18.00 Average Maturity of Debt Portfolio (Months) 50.31
ASSET ALLOCATION 17.50 Average Maturity of Debt Benchmark (Months) 39.2
17.00
16.50
Debt, Money Market & Cash 100 100 15.50
15.00 *** Last Declared NAV (June 30, 2010)
14.50
BENCHMARK 14.00
CRISIL Composite Bond Index 13.50
13.00
12.50
12.00
11.50
11.00
10.50
10.00
May-02 Sep-03 Feb-05 Jun-06 Oct-07 Feb-09 Jun-10
Pension Protector Benchmark

Pension Funds
Pension Maximiser
As on June 30, 2010

To generate long-term capital appreciation through investment
NAV*** Rs.
primarily in equity and equity-related instruments. AUM (Rs. Million): 35,480.12
Pension Maximiser Fund 65.88
Pension Maximiser Fund II 37.99
Asset Allocation
Fund
EQUITY 98.98%
Expected return

25.00% OIL & GAS 17.24%
BANKING 15.72%
20.00% TECHNOLOGY 10.87%
Risk CAPITAL GOODS 9.02%
AUTO 7.23%
Product Pension Maximiser CONSUMER 6.60%
10.00% FINANCE 4.78%
LifeStage Pension I
LifeTime Super Pension II
PHARMA & HEALTHCARE 4.75%
5.00% CEMENT 4.22%
TELECOM 2.70%
LifeTime Pension I
0.00%
RETAIL 2.01%
INFRASTRUCTURE 1.86%
LifeLink Super Pension II 3 Year 5 Year Since inception REAL ESTATE 1.40%
Pension Maximiser Benchmark EPC 1.32%
LifeLink Pension I
BROKERS 1.08%
OTHERS 0.57%
DATE OF INCEPTION: May 31, 2002 NAV GROWTH
74.00 Allocation as a
ASSET ALLOCATION % in Equity
68.00
Indicative Portfolio Allocation Max (%) Min (%) RELIANCE INDUSTRIES LTD. 9.31%
Equity & equity related securities 100 75 62.00 H D F C BANK LTD. 8.95%
Debt, Money Market & Cash 25 0 56.00 BHARAT HEAVY ELECTRICALS LTD. 8.00%
50.00
BENCHMARK
44.00 AXIS BANK LTD. 4.61%
BSE 100 I T C LTD. 4.18%
38.00
32.00 MAHINDRA & MAHINDRA LTD. 3.84%
26.00
BHARTI AIRTEL LTD. 2.70%
14.00 JINDAL STEEL & POWER LTD. 2.54%
LUPIN LTD. 2.53%
8.00 DR. REDDY'S LABORATORIES LTD. 2.22%
May-02 Sep-03 Feb-05 Jun-06 Oct-07 Feb-09 Jun-10 SHRIRAM TRANSPORT FINANCE CO. LTD. 2.07%
PANTALOON RETAIL (INDIA) LTD. 2.01%
Pension Maximiser Benchmark HERO HONDA MOTORS LTD. 1.89%
A C C LTD. 1.66%
DABUR INDIA LTD. 1.53%

Pension Funds
Pension Preserver
As on June 30, 2010

To provide suitable returns through low risk investments in debt and
NAV*** Rs.
money market instruments while attempting to protect the capital AUM (Rs. Million): 2,830.40
Pension Preserver Fund 15.4236
deployed in the fund.
Asset Allocation Allocation in Fund
RISK PROFILE GOVERNMENT SECURITIES/ T BILLS 0.00%
Expected return

6.00% FIXED DEPOSITS WITH BANKS 13.33%
Risk
OTHER CURRENT ASSETS AND EQUIVALENT 0.82%
Product Pension Preserver
LifeStage Pension Portfolio by Maturity Allocation in
2.00%
LifeTime Super Pension Fund
LifeTime Pension II < 1 YEAR 99.98%
LifeTime Pension 0.00% 1- 5 YEARS 0.02%
PremierLife Pension 3 Year 5 Year Since inception 5 - 7 YEARS 0.00%
LifeLink Super Pension 7- 10 YEARS 0.00%
LifeLink Pension II Pension Preserver Benchmark > 10 YEARS 0.00%
LifeLink Pension TOTAL 100.00%
NAV GROWTH
DATE OF INCEPTION: May 17, 2004 15.50 Average Maturity of Debt Benchmark (Months) 2.23
15.00 Yield to Maturity of Debt Portfolio 6.37%
ASSET ALLOCATION
14.50
Debt instruments 50 0 13.50
Money Market & Cash 100 50
13.00
12.50
BENCHMARK
CRISIL Liquid Index 12.00
11.50
11.00
10.50
10.00
May-04 Nov-05 Jun-07 Dec-08 Jun-10
Pension Preserver Benchmark

Pension Funds
Pension Multiplier
As on June 30, 2010

To provide long-term capital appreciation from equity portfolio
NAV*** Rs.
predominantly invested in NIFTY scrips. AUM (Rs. Million): 11,804.89
Pension Multiplier Fund 10.77
Pension Multiplier Fund II 11.01
Asset Allocation
Fund
EQUITY 97.54%
Expected return

25.00% OIL & GAS 17.77%
BANKING 17.75%
20.00% TECHNOLOGY 12.93%
Risk FINANCE 10.99%
15.00% CONSUMER 9.46%
APPLICABLE PRODUCTS EPC 6.97%
Product Pension Multiplier 10.00% AUTO 6.95%
LifeStage Pension I CAPITAL GOODS 5.60%
LifeTime Super Pension II 5.00% METALS & MINERALS 4.26%
LifeTime Pension II II INFRASTRUCTURE 3.14%
LifeTime Pension I CEMENT 2.61%
0.00%
PremierLife Pension II 1 Year Since inception PHARMA & HEALTHCARE 1.56%
LifeLink Pension II II Allocation as a
LifeLink Pension I Pension Multiplier Benchmark % in Equity
DATE OF INCEPTION: Feb 25, 2008 NAV GROWTH
LARSEN & TOUBRO LTD. 6.25%
ASSET ALLOCATION 11.00 I T C LTD. 6.05%
Indicative Portfolio Allocation Max (%) Min (%) AXIS BANK LTD. 5.34%
Equity & equity related securities 100 80 10.00 HOUSING DEVELOPMENT FINANCE CORPN. LTD. 5.25%
Debt, Money Market & Cash 20 0 OIL & NATURAL GAS CORPN. LTD. 4.87%
9.00 BHARAT HEAVY ELECTRICALS LTD. 4.85%
MAHINDRA & MAHINDRA LTD. 3.28%
BENCHMARK 8.00 RURAL ELECTRIFICATION CORPN. LTD. 2.50%
S&P CNX Nifty TATA CONSULTANCY SERVICES LTD. 2.42%
7.00 TATA TEA LTD. 2.42%
PUNJAB NATIONAL BANK 2.08%
6.00 MARUTI SUZUKI INDIA LTD. 1.95%
ALLAHABAD BANK 1.82%
5.00 JINDAL STEEL & POWER LTD. 1.77%
4.00 WIPRO LTD. 1.64%
Feb-08 Sep-08 Apr-09 Nov-09 Jun-10
Pension Multiplier Benchmark *** Last Declared NAV (June 30, 2010)

Pension Funds
Pension RICH
As on June 30, 2010

NAV*** Rs.
equity and equity related instruments of companies operating in four AUM (Rs. Million): 40,206.78
Pension R.I.C.H. Fund 13.31
important types of industries viz., Resources, Investment-realted,
Pension R.I.C.H. Fund II 13.54
Consumption-related and Human Capital leveraged industries. Allocation in
Asset Allocation
Fund
Expected return

25.00% BANKING 17.56%
OIL & GAS 16.25%
20.00% CONSUMER 8.73%
FINANCE 8.28%
Risk 15.00% AUTO 7.98%
TECHNOLOGY 7.34%
APPLICABLE PRODUCTS OTHERS 6.48%
10.00%
EPC 6.45%
Product Pension RICH
LifeStage Pension I CAPITAL GOODS 6.23%
5.00%
LifeTime Super Pension II METALS & MINERALS 4.69%
LifeTime Pension II II INFRASTRUCTURE 3.72%
0.00% PHARMA & HEALTHCARE 2.07%
LifeTime Pension I
1 Year Since inception CEMENT 2.03%
LifeLink Super Pension II Pension R.I.C.H Benchmark TELECOM 1.63%
LifeLink Pension II II MEDIA 0.52%
LifeLink Pension I REAL ESTATE 0.05%
NAV GROWTH
DATE OF INCEPTION: Mar 17, 2008 14.00 Allocation as a

13.00
% in Equity
ASSET ALLOCATION H D F C BANK LTD. 7.41%
12.00
Indicative Portfolio Allocation Max (%) Min (%) RELIANCE INDUSTRIES LTD. 6.28%
Equity & equity related securities 100 80 11.00 LARSEN & TOUBRO LTD. 5.62%
I T C LTD. 5.01%
BENCHMARK INFOSYS TECHNOLOGIES LTD. 3.79%
8.00
BSE 200 MARUTI SUZUKI INDIA LTD. 3.23%
7.00 GAIL (INDIA) LTD. 3.19%
STATE BANK OF INDIA 2.81%
6.00
5.00 OIL INDIA LTD. 2.30%
Mar-08 Oct-08 May-09 Dec-09 Jun-10 TATA CONSULTANCY SERVICES LTD. 1.99%
HINDUSTAN UNILEVER LTD. 1.89%
Pension R.I.C.H Benchmark
TATA CHEMICALS LTD. 1.85%
A B B LTD. 1.75%
HINDUSTAN PETROLEUM CORPN. LTD. 1.61%

Pension Funds
Pension Flexi Balanced

As on June 30, 2010

To achieve a balance between capital appreciation and stable returns
NAV*** Rs.
by investing in a mix of equity and equity related instruments of large, AUM (Rs. Million): 2,567.00
Pension Flexi Balanced Fund 14.25
mid and small cap companies and debt and debt related instruments.
Pension Flexi Balanced Fund II 14.55
Allocation in
Asset Allocation
RISK PROFILE Fund
EQUITY 52.55%
DEBT 40.63%
Expected return

20.00% TOTAL 100.00%
Allocation as a
% in Equity
15.00%
OIL & GAS 16.16%
OTHERS 11.58%
Risk CAPITAL GOODS 11.17%
10.00% BANKING 11.13%
APPLICABLE PRODUCTS INFRASTRUCTURE 8.55%
Product Pension Flexi Balanced
LifeStage Pension I 5.00% Allocation as a
LifeTime Super Pension II % in Equity
LifeTime Pension II II BHARAT HEAVY ELECTRICALS LTD. 7.29%
LifeTime Pension I 0.00% OIL & NATURAL GAS CORPN. LTD. 7.04%
PremierLife Pension II 1 Year 3 Year Since inception RELIANCE INDUSTRIES LTD. 6.17%
LifeLink Super Pension II H D F C BANK LTD. 5.09%
LifeLink Pension II II Pension Flexi Balanced Benchmark RALLIS INDIA LTD. 4.56%
LifeLink Pension I N T P C LTD. 3.88%
NAV GROWTH LUPIN LTD. 3.12%
DATE OF INCEPTION: Mar 20, 2007 TATA CONSULTANCY SERVICES LTD. 2.86%
15.00
TATA POWER CO. LTD. 2.65%
ASSET ALLOCATION 14.50
Debt Asset Allocation Allocation in Fund
12.50 AAA AND EQUIVALENT 12.30%
BENCHMARK 12.00 AA+ AND EQUIVALENT 2.02%
55% CNX 500 & 45% CRISIL Composite Bond Index 11.50 AA EQUIVALENT AND BELOW 0.50%
11.00
10.50
EQUIVALENT) 10.30%
10.00 CERTIFICATE OF DEPOSIT (P1+
9.50 AND EQUIVALENT) 0.00%
9.00 FIXED DEPOSITS WITH BANKS 7.56%
8.50
8.00 Average Maturity of Debt Portfolio (Months) 45.09
Mar-07 Jan-08 Nov-08 Sep-09 Jun-10 Average Maturity of Benchmark (Months) 7.19
Pension Flexi Balanced Benchmark Yield to Maturity of Debt Portfolio 7.19%

Pension Funds
Pension Flexi Growth

As on June 30, 2010

NAV*** Rs.
equity and equity related instruments of large, mid and small cap AUM (Rs. Million): 62,180.66
Pension Flexi Growth Fund 14.39
companies.
Pension Flexi Growth Fund II 14.77
Allocation in
Asset Allocation
RISK PROFILE Fund
EQUITY 97.69%
Expected return

30.00% OIL & GAS 17.84%
BANKING 14.04%
Risk OTHERS 7.85%
20.00% CONSUMER 7.84%
APPLICABLE PRODUCTS METALS & MINERALS 7.68%
INFRASTRUCTURE 7.44%
15.00%
Product Pension Flexi Growth AUTO 6.17%
LifeStage Pension I TECHNOLOGY 5.96%
LifeTime Super Pension II 10.00%
EPC 5.29%
LifeTime Pension II II FINANCE 4.45%
LifeTime Pension I 5.00% CEMENT 2.66%
PremierLife Pension II TELECOM 1.67%
0.00% PHARMA & HEALTHCARE 1.64%
1 Year 3 Year Since inception MEDIA 0.59%
LifeLink Pension I
BROKERS 0.40%
Pension Flexi Growth Benchmark
REAL ESTATE 0.07%
DATE OF INCEPTION: Mar 20, 2007
NAV GROWTH Allocation as a
% in Equity
ASSET ALLOCATION
19.00 H D F C BANK LTD. 6.22%
18.00 OIL & NATURAL GAS CORPN. LTD. 5.28%
Equity & equity related securities 100 80 LARSEN & TOUBRO LTD. 5.03%
BENCHMARK 15.00 I T C LTD. 2.85%
S&P CNX 500 14.00 MARUTI SUZUKI INDIA LTD. 2.82%
13.00
N T P C LTD. 2.73%
12.00
11.00 INFOSYS TECHNOLOGIES LTD. 2.07%
10.00 OIL INDIA LTD. 2.04%
9.00
KANSAI NEROLAC PAINTS LTD. 1.87%
8.00
7.00 HOUSING DEVELOPMENT FINANCE CORPN. LTD. 1.63%
Mar-07 Jan-08 Nov-08 Sep-09 Jun-10 STATE BANK OF INDIA 1.55%
VOLTAS LTD. 1.42%
Pension Flexi Growth Benchmark SUTLUJ JAL VIDYUT NIGAM LIMITED 1.40%

ULIP Funds Pension Funds
InvestShield Funds
InvestShield Cash InvestShield Life InvestShield Pension InvestShield Life - New
InvestShield Cash
As on June 30, 2010

The investment objective of this Plan is to provide accumulation of
NAV*** Rs.
income through investment in various fixed income securities. In AUM (Rs. Million): 5,259.11
Cash Plus Fund 15.6585
addition to protecting the capital, the Plan seeks to provide capital
Cash Plus Fund II 14.9715
appreciation while maintaining suitable balance between return,
safety and liquidity. Asset Allocation Allocation in Fund
RISK PROFILE
Expected return

9.00% CORPORATE MONEY MARKET SECURITIES 9.80%
8.00% COMMERCIAL PAPER (P1+
7.00% AND EQUIVALENT) 9.80%
6.00%
5.00%
4.00% OTHER CURRENT ASSETS AND
Risk 3.00% EQUIVALENT 6.54%
2.00%
Product InvestShield Cash 0.00%
InvestShield Cash 3 Year 5 Year Since inception Portfolio By Maturity Allocation in
Fund
InvestShield Cash Benchmark < 1 year 24.97%
DATE OF INCEPTION: Jan 3, 2005 1-5 years 47.31%
5-7 years 2.08%
NAV GROWTH
ASSET ALLOCATION 7-10 years 11.84%
> 10 years 13.80%
Indicative Portfolio Allocation Max (%) Min (%) 15.00 T O TA L 100.00%
Debt, Money Market & Cash 100 100 Average Maturity of Debt Portfolio (Months) 53.63
14.00 Average Maturity of Debt Benchmark (Months) 39.2
BENCHMARK Yield to Maturity of Debt Portfolio 7.36%
CRISIL Composite Bond Index
13.00
12.00
11.00
10.00
Jan-05 Feb-06 Mar-07 Apr-08 May-09 Jun-10
InvestShield Cash Benchmark

InvestShield Funds
InvestShield Life
As on June 30, 2010

To provide a balanced investment between long-term capital
NAV*** Rs.
appreciation and current income while protecting the capital. AUM (Rs. Million): 1,676.13
Invest sheild Fund - Life 18.32
Investment will be in fixed income instruments as well as equity in
appropriate proportions, depending on market conditions prevalent Allocation in
from time to time. Asset Allocation
Fund
EQUITY 27.82%
RISK PROFILE DEBT 66.29%
Expected return
TOTAL 100.00%
14.00%
Allocation as a
12.00% % in Equity
BANKING 16.36%
10.00%
OIL & GAS 14.71%
8.00%
TECHNOLOGY 10.59%
Risk FINANCE 9.63%
6.00%
APPLICABLE PRODUCTS 4.00% Allocation as a

Product InvestShield Life % in Equity
InvestShield Life 2.00% RELIANCE INDUSTRIES LTD. 8.76%
InvestShield Gold INFOSYS TECHNOLOGIES LTD. 7.63%
0.00%
3 Year 5 Year Since inception LARSEN & TOUBRO LTD. 5.61%
DATE OF INCEPTION: Jan 3, 2005
InvestShield Life Benchmark TATA TEA LTD. 5.33%
ASSET ALLOCATION BHARAT HEAVY ELECTRICALS LTD. 4.73%
Indicative Portfolio Allocation Max (%) Min (%) NAV GROWTH OIL & NATURAL GAS CORPN. LTD. 4.16%
Equity & equity related securities 30 0 HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.12%
18.00
Debt, Money Market & Cash 100 70 RURAL ELECTRIFICATION CORPN. LTD. 3.96%
17.50
17.00
BENCHMARK 16.50
Debt Asset Allocation Allocation in Fund
25% BSE 100 & 75% CRISIL Composite Bond Index 16.00 GOVERNMENT SECURITIES/ T BILLS 13.26%
15.50 CORPORATE SECURITIES 34.84%
14.50 AA+ AND EQUIVALENT 4.47%
14.00 AA EQUIVALENT AND BELOW 1.74%
13.50 CORPORATE MONEY MARKET SECURITIES 13.40%
13.00 COMMERCIAL PAPER (P1+
10.50
10.00
9.50
Jan-05 Feb-06 Mar-07 Apr-08 May-09 Jun-10
InvestShield Life Benchmark

InvestShield Funds
InvestShield Pension
As on June 30, 2010

NAV*** Rs.
appreciation and current income while protecting the capital. AUM (Rs. Million): 335.12
InvestShield Pension 18.58
Fund
EQUITY 27.18%
Expected return
TOTAL 100.00%
14.00%
Allocation as a
12.00% Top 5 Sectors in Equity
% in Equity
10.00%
BANKING 17.80%
OIL & GAS 16.94%
FINANCE 8.76%
Risk 6.00% TECHNOLOGY 7.66%
APPLICABLE PRODUCTS 4.00% Allocation as a

Product InvestShield Pensioin % in Equity
2.00%
InvestShield Pension RELIANCE INDUSTRIES LTD. 9.63%
0.00%
DATE OF INCEPTION: Jan 3, 2005 BHARAT HEAVY ELECTRICALS LTD. 5.83%
InvestShield Pension Benchmark LARSEN & TOUBRO LTD. 5.72%
ASSET ALLOCATION AXIS BANK LTD. 4.77%
NAV GROWTH HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.40%
18.50
TATA TEA LTD. 3.18%
Debt, Money Market & Cash 100 70
18.00 CUMMINS INDIA LTD. 3.16%
17.50
BENCHMARK 17.00 Debt Asset Allocation Allocation in Fund
16.50
25% BSE 100 & 75% CRISIL Composite Bond Index GOVERNMENT SECURITIES/ T BILLS 13.31%
16.00
15.50 CORPORATE SECURITIES 32.65%
14.50 AA+ AND EQUIVALENT 3.78%
14.00 AA EQUIVALENT AND BELOW 1.77%
13.50
13.00
12.50 COMMERCIAL PAPER (P1+
10.50
FIXED DEPOSITS WITH BANKS 8.09%%
10.00
9.50
Jan-05 Feb-06 Mar-07 Apr-08 May-09 Jun-10 Average Maturity of Debt Portfolio (Months) 47.26
InvestShield Pension Benchmark Yield to Maturity of Debt Portfolio 7.25%

InvestShield Funds
New InvestShield
As on June 30, 2010

NAV*** Rs.
appreciation and current income while protecting the capital. AUM (Rs. Million): 2,288.38
New Invest Shield Balanced Fund 15.47
Fund
EQUITY 37.70%
Expected return
TOTAL 100.00%
18.00%
Allocation as a
16.00% Top 5 Sectors in Equity
% in Equity
14.00%
OIL & GAS 18.14%
12.00% BANKING 13.95%
10.00%
TECHNOLOGY 9.92%
Risk 8.00% CONSUMER 7.83%
Allocation as a
4.00% Top 10 Equity Stocks
Product New InvestShield % in Equity
InvestShield Life New 2.00% RELIANCE INDUSTRIES LTD. 9.09%
0.00%
DATE OF INCEPTION: Aug 21, 2006 LARSEN & TOUBRO LTD. 5.56%
New InvestShield Benchmark BHARAT HEAVY ELECTRICALS LTD. 4.82%
ASSET ALLOCATION AXIS BANK LTD. 4.65%
Indicative Portfolio Allocation Max (%) Min (%) NAV GROWTH I T C LTD. 4.32%
CUMMINS INDIA LTD. 3.09%
15.50
BENCHMARK 15.00 Debt Asset Allocation Allocation in Fund

14.50
35% BSE 100 & 65% CRISIL Composite Bond Index GOVERNMENT SECURITIES/ T BILLS 11.51%
14.00
13.50
13.00
12.50
12.00
11.50
11.00
EQUIVALENT) 14.59%
10.50
CERTIFICATE OF DEPOSIT (P1+ AND
10.00 EQUIVALENT) 0.00%
Aug-06 Jun-07 Mar-08 Dec-08 Sep-09 Jun-10
New InvestShield Benchmark Average Maturity of Debt Portfolio (Months) 47.92


Product - Fund Matrix
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II
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Balancer IV IV II I I I I II II II III II I II II I II I I II
Protector IV IV II I I I I II II II III II I II II I II I I II
Maximiser IV II I I I II II III II I II II I II I I II
Preserver IV IV I I I I I II I I III I I I I I I I I I
Multipiler IV IV II I I I I II II II III II I II II II II II I II
RICH IV IV II I I I I II II II III II I II II I II I I II
Flexi Balanced IV IV II I I I I II II II III II I II II I II II I II
Flexi Growth IV IV II I I I I II II II III II I II II I II II I II
Pension Balancer I II II I II II II I II II
Pension Protector I II II I II II II I II II
Pension Maximiser I II II I II II II I
Pension Preserver I I I I I I I I I I
Pension Multiplier I II II I II II II I II II
Pension RICH I II II I II II II I II II
Pension Flexi Balanced I II II I II II II I II II
Pension Flexi Growth I II II I II II II I II II
InvestShield Life - New
InvestShield Life
InvestShield Cash
InvestShield Pension
I, II, III, IV refer to the fund series of the respective fund applicable to the product
The Investment Team

Advises
Overall Advice ICICI Prudential Highlights
• With volatility expected to continue in the near future, ATS may be used for any new • We are one of the market leaders in the Indian private life insurance space
investments.
• We currently have over Rs. 59,000 cr (as on June 30, 2010) in assets under management.
• For existing investments, determine your risk profile and optimal asset allocation if not
already done so. Determine the current asset allocation of your overall investment • We are capitalized at Rs. 4,780 cr (as on June 30,2010) making us one of India's highest
portfolio. Make suitable adjustment to your portfolio to bring it in line with your capitalized companies across sectors
optimal asset allocation. You can use Switch or ATS facilities to easily adjust your
asset allocation.
Investment Team
• Mr. Manish Kumar • Mr. Jitendra Arora

Senior Vice President and Vice President and
Head - Investments Fund Manager - Fixed Income
• Mr. Arun Srinivasan • Mr. Lakshmikanth Reddy

Vice President and Fund Senior Vice President and
Manager - Fixed Income Fund Manager - Head of Equity
• Ms. Meghana Baji

Vice President - Investment
and Risk Management
The 5 Mantras of
Financial Freedom Goal Based Investing
We all invest with certain goals in mind which can range

Managing one's financial investments may appear very complicated given all the confusing from buying a car, to children’s higher education, to
advice around and the jargon people often use. We will give you an overview of how we retirement. It is important to recognize these goals and
manage the complex part on the next page. Here, we discuss the critical few things you need to build a plan suitable for each. One needs to particularly
keep in mind. Think of them as your mantras of financial freedom. take note of the time horizon and level of risk one can take
for each of these goals. For instance, if next year one plans
to send his daughter to a foreign university, he cannot
take any risks and it would be best to invest in something
like a fixed deposit. Conversely with something like
retirement, this if a long time away, one must have some
Start Early, Stay Long Term exposure to equities since one can tolerate short term
volatility for better returns in the long run.
While most of us know this, few recognize the incredible
‘power of compounding' that forms the basis of this
maxim. For example, a person who invests Rs. 2 lac each Regular Investments
year for 30 years and another person who invests Rs. 3 lac
each year for 20 years would both have invested Rs. 60
This is another piece of advice that we hear very often and
lacs. However, at 10% rate of return, the first person will
which has its basis in a key concept called ‘rupee cost
end up with over Rs. 3.6 crore and the second person with averaging’. The simple fact to recognize is that no one can
not even Rs. 1.9 crore, a difference of almost 50% ! The consistently time the market. In fact we make things
messege is clear, resist the temptation to splurge today. worse by trying to time the market, because our
Go that extra mile to invest whatever you can as early as psychology is such that we generally invest more when
you can. Your Golden Years depend on it! markets are high and everybody is cheerful, and likewise
become fearful and invest less when markets are low,
whereas we should be doing the opposite! Rupee Cost Averaging implies that by sticking to a
Asset Allocation systematic plan of investing regularly, say every month or quarter, we minimize the risk of
entering the market when it is at its peak or missing our when valuations are at their most
attractive. The Automatic Transfer Strategy (ATS) is an ideal tool to ensure regular investments.
This is a key decision to be taken and is responsible
for attaining the significant returns that one gets
over a long period of time. Asset allocation basically
refers to the balance an investor maintains between Cover Your Financial Risks
his or her exposure to debt and equity instruments.
The greater a person's risk taking ability the more
investments he should assign to equity, and the We have all heard stories from friends or relatives about
higher will be the returns he will potentially make in how a sudden illness or death completely degraded the
the long-run. Risk appetite in turn depends on lifestyle of someone they knew. Some of us take the
factors like age, income, dependants, investment horizon, inherent risk appetite, etc. Based on cavalier attitude “Oh that will never happen to me”.
these parameters, an investor may calculate his optimal asset allocation using the calculator on Likewise there will be others who worry excessively and
our website. One should invest sticking closely to this asset allocation. Every quarter, asset become victims of fear keeping their savings in liquid
allocation of one's investments should be reviewed and the fund switch feature should be used assets thus foregoing higher returns. Of course, the smart
to bring asset allocation back in line with optimal asset allocation. Through this mechanism, ones insure away all their risks, and their fears. For a fee
one systematically invests more in equities when markets are low and less when markets are (premium), insurance companies can insure against
high, thus generating superior returns in the long run without worrying about things like almost all risks such as death, illness, accidental disability, even house theft or fire. It is
timing the market. important to adequately cover the financial risks and live a life free from the burden of fear or
low yielding ‘emergency funds’. For more details on how much life cover you need use the
human life value calculator on our website.
How we go about
Managing your Money
The cornerstone of our investment philosophy is the investment policy put in place by our board's investment committee keeping in mind policyholders' long-term interests and regulatory
norms. Following are some of the salient features of our investment philosophy as detailed in this charter:
Process-driven approach to investments: Superior risk adjusted returns: The investment

Every fund has a defined investment objective, policy has well defined limits on permissible risks
a benchmark suitable to the objective and pre- that can be taken even as it gives freedom to fund
decided style of investing so that fund managers to out perform the relevant benchmarks.
performance is not a function only of a specific The idea is not only to earn high returns but to do so
fund manager's skill but rather an outcome of without taking high risks. We have a qualified and
policy defined features. experienced team of fund
Policyholders in insurance managers who continuously
products commit money analyze the factors affecting
for the long-term and the market movements like
investment performance economic fundamentals,
cannot be purely subject institutional fund flows and
to a specific fund market sentiment. Their
manager's skill or constant endeavour is to
competence who may or maximize risk adjusted returns.
may not be consistent
over the long-term.
Safety is paramount: Regulatory guidelines: Life

One of our primary insurance companies in India
objectives is the safety of are regulated by Insurance
your investments and Regulatory Development
stability of returns. We Authority (IRDA), and these
ensure that our regulations focus on:
investment portfolio is (I) safety of investors' money
adequately diversified by defining a minimum
and adheres to high standards of quality. Our acceptable quality of the investment portfolio, and
investment policy does not permit us to follow (ii) transparency in terms of adequate disclosures
risky strategies, whatever be the reward, such about portfolio.
as holding poor quality credit or under
diversified portfolios, etc.
Glossary of Terms
As on June 30, 2010
Fund: This is a collective pool of money created from the period. Generally when reporting for a period longer Equity: Equity investment means holding shares of
individual investments such that each individual shares risks than 1 year, the return is annualized (generally using the companies, meaning that the investor is taking part
and rewards in the proportion of their contribution. Since a CAGR method) for the purpose of comparison. For example ownership of a company rather that lending to the
fund is managed as a single investment vehicle, all the if in the last 1 year, the NAV of a fund has increased from Rs. company. As a part owner of a business, the shareholder
investors will face the same risks and rewards. A 20 to Rs. 25, then absolute return (and in this case the shares all the risks and rewards of the business. Several
professional fund manager invests the fund according to annualized return as well) is (25-20)÷20=25%. If over the factors lead to appreciation in equity investments - all of
the objective of the fund defined in the offer document or last 2 years, the NAV has grown from Rs. 15 to Rs. 30 then which in some way relate to current and future prospects of
policy document. In case of a policyholder who pays the absolute return in 2 years is (30-15)÷15=100%; the business of the company, also called fundamentals.
premium, a predetermined part of this is used to pay for life however the annualized return, or compound annual Because of the variable nature of these factors, equity
cover and other expenses. The remaining part of the growth rate is 41.4% per annum. investments are more risky than debt investments, but have
premium is the investment which is put in the various funds historically shown signifantly better returns in the long-run
(such as Maximiser and Balancer) as per the investor’s Benchmark: Every investment has to have a yardstick to (investment horizon greater than 5 years).
instructions. The investor is free to change the allocation of evaluate whether it has met the objective of investment. A
investments at any time during the term of the policy. benchmark is a standard against which the performance of Sharpe Ratio: This is a popular measure of risk adjusted
a fund can be compared. The benchmark for each fund is returns. This is an important measure because it is
NAV: Net Asset Value of a fund on a given day is the total predetermined based on the investment objective and inaccurate to compare the returns of funds that have
closing value of the securities held in the portfolio of the target asset allocation of the fund. At a macro level, a different risk profiles or objectives. For instance, fund A may
fund divided by the number of units outstanding. When a benchmark captures the average returns of all funds which perform better than fund B but this may be because it is
person invests a sum (say Rs. 10000) in a fund on a certain have the same objective and funds that perform better than investing in small cap companies that are more risky. Sharpe
day when the NAV was Rs. 20 per unit he is assigned the benchmark can be said to be better than the average. ratio helps to compare the returns of funds taking into
10000÷20=500 units. On any given day, the investor can Benchmarks can be either those that are readily available in account the riskiness of returns, and is defined as reward of
find the value of his investment in the fund by multiplying the market or synthetically created. For example, Maximiser- investing in a risky asset per unit risk taken. More accurately,
the units he holds by the NAV of the day. So if the NAV of the a pure equity fund uses an equity benchmark the BSE 100, it is measured as:
fund has become Rs. 30 per unit, the investor can calculate where as Balancer- a fund that invests 35% in equity and
the value of his holdings as 500x30=Rs. 15000. The NAV 65% in debt uses a synthetic benchmark Sharpe Ratio = Annualized Excess Return
changes with changes in value of investments in the fund. consisting of 35% BSE 100 and 65% CRISIL composite Annualized Std Deviation of Excess Returns
bond index.
Risk: Concept of risk of an investment essentially captures Excess Return is the difference between the fund return and
the possibility of loss in that investment. Risk, in terms of Debt: Debt or fixed income as an asset class refers to the risk free rate of return. Standard Deviation is a common
portfolio management, is defined as variability of the investment in securities that have well defined pay offs, and measure of risk. So a higher Sharpe Ratio means a fund has
returns of a fund or more correctly expected variability. So if mostly pf a fixed nature or a fixed rate of return for a fixed given superior returns (over an asset that has no risk such as
fund A and fund B both given 10% annualized returns, period. Because of the fixed nature of returns debts as an a government security) for every unit of risk.
however fund A gives this same 10% consistently every year asset class is less risky than equity. All securities where the
but fund B gives 3% in one year, 12% in another year and borrower is the government are classified as government ATS: Automatic Transfer Strategy helps to mitigate any risk
so on but still averages 10% per annum in the long run, securities or gifts and have a negligible level of risk of arising from market volatility by ensuring that you buy more
then fund B is said to be more risky than fund A. Risk is default, i.e., Non-payment. Other borrowers have varying units at lesser prices and fewer units when prices are high.
generally measured as standard deviation or variance of levels of risk of default, determined by a neutral third party Under ATS you can invest your entire premium in our money
returns. For similar levels of returns a rational investor will such as CRISIL or Moody by looking at the financial strength market funds (which are more conservative funds) and at
always choose the least risky asset. of the borrower and being described in the rating of the predefined regular monthly intervals, i.e. 1st or 15th of
security where AAA is the safest followed by AA+,AA and every month, a fixed amount chosen by you is transferred to
Returns: Return is the reward one has got for taking risk so on. Among debt securities there are various types of any one of the chosen equity based fund options available
and giving time. Absolute rate of return (or simply return) in instruments viz., money market instruments, Certificate of under the plan. This facility is available for customers opting
a period is the ratio of increase (or decrease) in the NAV of Deposits, Fixed Deposits, Corporate bonds, Gifts, Loans, for Fixed Portfolio Strategy and is FREE of charge.
the fund at the end of the period over the NAV at the start of etc., which have different maturity, risk and reward profiles.
Contact Us
Choose a convenient contact option from the following
Visit our website: Exclusive SMS Helpline: Email us at: Call toll-free on:
www.iciciprulife.com SMS ‘INFO’ to 56767 lifeline@iciciprulife.com 1-800-22-2020
IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER. This document is for information purposes only. It does not constitute any
recommendation to any person to enter into any transaction or adopt any investment strategy, nor does it constitute any prediction of likely future movements in NAVs. All opinions given here
are general in nature and clients should take into account their personal investment objectives, risk appetite and other aspects of their financial situation before making an investment decision.
Please invest or make any decision regarding your financial activities only after consulting your financial advisor. ICICI Prudential shall not be responsible for any losses caused or any claims that
arise due to investments made based on this newsletter. All fund performances published in this newsletter are based on past performance and do not imply that future performance will be
similar. Please note that the funds are invested in capital markets and are hence exposed to the market risks inherent in such investments. While every effort has been made to ensure accuracy of
the contents of this newsletter the Company cannot be held responsible for any errors, opinions or projections published herein. © 2009, ICICI Prudential Life Insurance Company Ltd. Registered
Office: ICICI Prulife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025. Reg. No. 105, Insurance is the subject matter of the solicitation. Unlike traditional products, Unit
linked insurance products are subject to market risk, which affect the Net Asset Values and the customer shall be responsible for his/her decision. The name of the Company, or names of the
product or fund options do not indicate their quality or future guidance on returns. Funds do not offer guaranteed or assured returns. Investments are subject to market risk. Past performance
may not be guide to future performance, which may be different. Comp/doc/2009/VR1
UIN Nos. LifeStage Regular Premium - 105L073V01, LifeStage Assure - 105L083V01, Life Time plus - 105L054V01, LifeTime Gold - 105L077V01, LifeTime Super - 105L056V01,
LifeTime II - 105L031V01, LifeTime - 105L013V01, Premier Life Gold - 105L061V01, Premier Life - 105L037V01, Wealth Advantage - 105L085V01, LifeLink Super - 105L053V01,
LifeLink II - 105L033V01, LifeLink - 105L012V01, SmartKid New Unitlinked Regular Premium - 105L058V01, SmartKid Unitlinked Regular Premium Plan II - 105L036V01,
SmartKid Unitlinked Regular Premium Plan - 105L028V01, SmartKid New UnitLinked Single Premium - 105L059V01, SmartKid Single Premium II - 105L035V01,
SmartKid Single Premium - 105L029V01, Golden Years - 105L047V01, LifeStage Pension - 105L075V01, LifeTime Super Pension - 105L055V01, LifeTime Pension II - 105L032V01,
LifeTime Pension - 105L015V01, Premierlife Pension - 105L074V01, LifeLink Super Pension - 105L057V01, LifeLink Pension II - 105L034V01, LifeLink Pension - 105L016V01,
Elite Pension - 105L094V01, LifeStage Assure Pension - 105L092V01, InvestShield Life New - 105L063V01, InvestShield Life - 105L042V01, InvestShield Cash - 105L041V01,
InvestShield Pension - 105L043V01
For more details please contact your financial advisors or log on to our website www.iciciprulife.com or email us at lifeline@iciciprulife.com

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Invest Wisely To Make Your Dreams Come True: July, 2010

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The monthly fund performance update

Our Investment Philosophy

With this in mind, our investment

Our aim is to achieve superior returns

Invest Shield Funds

Find your Fund

The Investment Team Advises

5 Mantras of Financial Freedom

How we Manage your Money

Performance Summary Find your Fund The Investment Team Advises

5 Mantras of Financial Freedom How we Manage your Money Glossary of Terms

Annualized Returns Equity Market Debt Market

Flexi Growth 8.55% N.A. 12.36% 6.82% N.A. 11.83% NA NA 20-Mar-07

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

Product Balancer 4.00% Allocation as a

*** Last Declared NAV (June 30, 2010)

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

AAA AND EQUIVALENT 49.25%

DATE OF INCEPTION: Nov 16, 2001 14.00

BENCHMARK Protector Benchmark

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

*** Last Declared NAV (June 30, 2010)

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

ANNUALIZED RETURNS AAA AND EQUIVALENT 0.75%

DATE OF INCEPTION: May 17, 2004 12.00

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

*** Last Declared NAV (June 30, 2010)

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

DEBT AND OTHER CURRENT ASSETS & EQUIVALENT 4.41%

*** Last Declared NAV (June 30, 2010)

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

*** Last Declared NAV (June 30, 2010)

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

DEBT AND OTHER CURRENT ASSETS & EQUIVALENT 1.78%

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

ANNUALIZED RETURNS OTHER CURRENT ASSETS AND EQUIVALENT 6.02%

*** Last Declared NAV (June 30, 2010)

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

Pension Protector Benchmark

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

DEBT AND OTHER CURRENT ASSETS & EQUIVALENT 1.02%

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

ANNUALIZED RETURNS AAA AND EQUIVALENT 0.71%

Pension Preserver Benchmark

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

DEBT AND OTHER CURRENT ASSETS & EQUIVALENT 2.46%

For full portfolio details please Click Here

FUND OBJECTIVE PERFORMANCE SUMMARY PORTFOLIO

ANNUALIZED RETURNS TOTAL 100.00%

DATE OF INCEPTION: Mar 17, 2008 14.00 Allocation as a