SIP FINAL PROJECT

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UNIVERSITY OF MUMBAI
Vishweshwar Education Society’s
Indira Institute of Business Management
PROJECT REPORT
ON
Investment Analysis
ON
BIRLA SUN LIFE INSURANCE
SUBMITTED TO
INDIRA INSTITUTE OF BUSINESS MANAGEMENT,
NAVI MUMBAI, SANPADA
BY
ASHISH KUMAR YADAV
Specialization: Finance
Roll No.2013060
Batch No: 2013-2015
IN PARTIAL FULFILLMENT OF
MASTER OF MANAGEMENT STUDIES (MMS),
UNIVERSITY OF MUMBAI AUGUST,
2014

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DECLARATION
I, Mr./Ms. ASHISH KUMAR YADAV
Hereby declare that this project report is the record of authentic work
carried out by me during the period from 1st May 2014 to 05th July
2014 and has not been submitted to any other University or Institute for
the award of any degree / diploma etc.
Signature:
ASHISH KUMAR YADAV
Date:

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CERTIFICATE
This is to certify that Mr. / Ms. ASHISH KUMAR YADAV of Indira
Institute of Business Management has successfully completed the
project work titled INVESTMENT ANALYSIS ON BIRLA SUNLIFE
INSURANCE in partial fulfilment of requirement for the completion
MMS as prescribed by the University of Mumbai.
This project report is the record of authentic work carried out by him /
her during the period from 01-05-2014 to 05-07-2014
He has worked under my guidance.
Signature : Signature
Dr. Ritu Bhattacharyya Prof. Tanayadevasthali
(Director) (Project Guide Internal)
Date : Date:

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ACKNOWLEDGEMENT
“Accomplishment of any task necessarily depends upon the willingness and
enthusiastic contribution of time and energy of many people.”
I, therefore, acknowledge all who generously helped me by sharing their time,
experience and knowledge with me without which this project would have been
accomplished.
We, would like to extend our thanks to Indira Institute of Business Management
Studies (IIBMS) Navi Mumbai, for given us the platform for corporate
interaction through this summer internship project which has helped us to
understand the duties & responsibility that comes with a job.
Moreover, I would like to extend my thanks and appreciation to Birla Sun Life
Insurance Company, Ghatkopar for giving us the opportunity and a platform
to work in a healthy and knowledgeable corporate working environment.
Through Birla Sun Life, we got the opportunity to meet some wonderful and
highly intellectual people.
I would like to thank Mr. Shubhajit Sen Gupta , for his welcome to the
organization and introducing us to the various phase of the co-operate front with
perceptive guidance, constant encouragement, constructive criticism and
affection were the light of guidance during tenure of my work.
Finally, I would like to thank Ms. Tanaya Devasthali our project guide for her
patience and guidance, which not only fulfilled an academic requirement, but
would also help me in future endeavours in the years to come.

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TABLE OF CONTENTS
Chapter No. Title Page No.
1 Introduction 8,9
1.1 Object of the Project
1.2 Introduction of the Topic
1.3 Objectives of the Study
1.4 Scope of the Study
1.5 Limitations of the Study
2. Profile ofthe Organisation 10, 11,12,13,14,16
2.1 Company Profile
2.2 About Aditya Birla Group
2.3 About ABFSG
2.4 About Birla Sun Life Insurance
2.5 About Sun Life Financial
2.6 AWARDS
2.7 Competitors Analysis
2.8 SWOT Analysis
3. Review ofLiterature 17,21
3.1 Insurance History
3.2 IRDA
4. ResearchMethodology 23,24,28
4.1 Data Collection
4.2 Sampling
4.3 Presentation of Data,
Interpretation
4.4 Products
5.
6
Findings 62
6. Recommendations 63
7. Conclusions 64
8. Bibliography 65

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EXECUTIVE SUMMARY
Birla Sun Life Insurance Company Limited (BSLI) established in 2000 is a joint
venture between the Aditya Birla Group, a well known and trusted name globally amongst Indian
conglomerates and Sun Life Financial Inc, leading international financial services organization
from Canada. The local knowledge of the Aditya Birla Group combined with the domain
expertise of Sun Life Financial Inc., offers a formidable protection for its customers’ future.
With an experience of over 10 years, BSLI has contributed significantly to the growth and
development of the life insurance industry in India and currently ranks amongst the top 6 private
life insurance companies in the country.
I have carried out a project during summer training; the title of my project is “Investment
Analysis on Birla Sun Life Insurance”. The objective of this project was to understand the
information contained in Investment Avenues of Birla Sun Life Insurance Company Limited
(BSLI) with particularly functional area of finance. This project has been a good experience for
me and at the same time it gave me enough scope to implement my analytical ability.

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CHAPTER: 1
INTRODUCTION
1.1 Objective of the Project
Summer internship program [SIP] is integral part of the MMS program. In that students go
for eight to twelve weeks in any company/ organization. More students do internships during the
summer than during any other time of the year. This is a short term experience but it provides a real
insight into what it’s actually like working in a particular job or career field. There was ample time to
get into a regular work routine and gain valuable knowledge and skills. This kind of experience is very
important and adds an important element to the resume.
I did my summer internship at Birla Sun Life Insurance Company Ltd. The internship
period was from 1st May to 05 July 2014. The objectives of the project are as follows:
1 Main objective of the project is to give an exposure to real life organizational problems.
2 It provides an opportunity to work on live project.
3 Project work provides several opportunities to learn & work on some aspects which taught in
MMS.
4 It gives chance to understand the organization structure and process in the practical setting.
5 It provides an opportunity to analysis the problems and apply the concepts and theory learnt in the
class room
1.2 Introduction of the Topic
The main purpose of doing this project was to know about company portfolio and its
functioning. This helps to know in details about Investment Avenues right from its inception stage,
growth and future prospects.
It also helps in understanding different schemes of Investment products. Because my study depends
upon prominent funds in India and their schemes like equity, income balance as well as the returns
associated with those schemes.

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Understand the Investment pattern of a common investor and determine the competitor position in the
market. To do a performance evaluation of Birla Sun Life Insurance products in comparison on with
other insurance companies.
1.3 Objective of the study
 To determine and analyze the market potential of Birla Sun Life Insurance Company Ltd.
 To study the various investment option available in the market and the comparative return from the investment.
 To apply the knowledge of research methodology to analyze the problem or issues faced by
company.
 To get an opportunity of real life business experience.
 To become able to apply theoretical knowledge obtained at the institute in a practical manner.
 To understand how various principles, policy in work is applied in the real time business world.
1.4 Scope of the study
The study covers all the information related to the Economic Analysis, Industrial Analysis, and
Company Analysis of BIRLA SUNLIFE INSURANCE.
 Data has been collected from “BIRLA SUNLIFE INSURANCE”.
 This study is related to investment avenues available in the market and also of the company.
 This study does a performance evaluation of Birla Sun Life Insurance products in comparison with
other insurance companies
1.5 Limitation of the study
 The major limitation for this project of BIRLA SUNLIFE INSURANCE is a large financial
institution; therefore it is not possible to find out the true picture within a short period.
 Officials don’t want to disclose all necessary information to an external.
 The data collected is basically confined to secondary sources, with very little amount of primary
data associated with the project.
 There is a constraint with regard to time allocated for the research study.
 The availability of information in the form of annual reports & price fluctuations of the
companies is a big constraint to the study.

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CHAPTER: 2
PROFILE OF THE ORGANISATION
2.1 COMPANY PROFILE
Birla Sun Life Insurance Co. Ltd.
Established in 2000, Birla Sun Life Insurance Company Limited (BSLI) is a joint
venture between the Aditya Birla Group, a well known and trusted name globally amongst Indiancongl
omerates and Sun Life Financial Inc, leading international financial services organization from
Canada. The local knowledge of the Aditya Birla Group combined with the domain expertise of Sun
Life Financial Inc., offers a formidable protection for its customers’ future.
With an experience of over 10 years, BSLI has contributed significantly to the growth and
development of the life insurance industry in India and currently ranks amongst the top 6 private life
insurance companies in the country.
Known for its innovation and creating industry benchmarks, BSLI has several firsts to its
credit. It was the first Indian Insurance Company to introduce “Free Look Period” and the same was
made mandatory by IRDA for all other life insurance companies. Additionally, BSLI pioneered the
launch of Unit Linked Life Insurance plans amongst the private players in India. To establish
credibility and further transparency, BSLI also enjoys the prestige to be the originator of practice to

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disclose portfolio on monthly basis. These category development initiatives have helped BSLI be
closer to its policy holders’ expectations, which gets further accentuated by the complete bouquet
of insurance products (viz. pure term plan, life stage products, health plan and retirement plan) that the
company offers.
 Vision
 To be a leader and role model in a broad based and integrated financial services business.
 Mission
 To help people mitigate risks of life, accident, health, and money at all stages and under
all circumstances.
 Enhance the financial future of our including enterprises.
 Values
 Integrity
 Commitment
 Passion
 Seamlessness
 Speed
2.2 About Aditya Birla Group
A US $35 billion corporation, the Aditya Birla Group is in the league of Fortune 500. It is anchored by
an extraordinary force of 133,000 employees, belonging to 42 different nationalities. The group
operates in 36 countries across six continents – truly India's first multinational corporation.
2.3 About Aditya Birla Financial Services Group (ABFSG)
Aditya Birla Financial Services Group (ABFSG) ranks among the top 5 fund managers in India
(excluding LIC) with an AUM of USD 20.4 billion. Having a strong presence across the life insurance,
asset management, NBFC, private equity, retail broking, distribution & wealth management, and
general insurance broking businesses, ABFSG is committed to serve the end-to-end financial services
needs of its retail and corporate customers. The seven companies representing ABFSG are: Birla Sun
Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Finance

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Ltd., Aditya Birla Capital Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd.
and Aditya Birla Insurance Brokers Ltd. In FY 2013-14, ABFSG reported consolidated revenue from
these businesses at Rs. 6,640 Cr (USD 1.1 billion) and earnings before tax at Rs. 745 Cr. Anchored by
about 13,000 employees and trusted by over 5.3 million customers, ABFSG has a nationwide reach
through 1,500 point of presence and about 130,000 agents / channel partners.
2.4 About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group,
a well known Indian conglomerate and Sun Life Financial Inc., one of the leading international
financial services organisations from Canada. With an experience of over a decade, BSLI has
contributed to the growth and development of the Indian life insurance industry and is currently one of
the leading life insurance companies in the country. BSLI has a customer base of over two million
policy holders and has attained recognition as the 3rd Most Trusted Life Insurance Company in the
'Most Trusted Brands' survey 2013 conducted by Brand Equity (The Economic Times Group) with
Neilsen. The Company offers a complete range of offerings comprising protection solutions, children's
future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions
and savings with protection solutions. It has an extensive distribution reach in over 500 cities through
its network of over 540 branches, more than 81,000 empanelled advisors and over 140 partnerships
with corporate agents, brokers and banks. Birla Sun Life Insurance has total assets under management
of 24,775 Cr and a robust capital base of over 2,170 Cr, as on 31st Mar, 2014.
2.5 About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range
of protection and wealth products and services to individuals and corporate customers. Sun Life
Financial and its partners have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2014, the Sun Life Financial
group of companies had total assets under management of $671 billion.
Objective & Scope:
Developing a basic understanding and potential of the Indian market, envisaging and
developing knowledge of offering various investment idea of the equity share market.
Scope of this study project is limited to the Indian listed companies in the equity market.

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2.6 AWARDS
At Birla Sun Life Insurance, winning is a way of life. Our innovative solutions and customer-
friendly services have been admired, appreciated and rewarded by customers and the industry at large.
Year Awards From Title
2011 Golden Peacock Global Awards Secretariat Golden Peacock Award
2011 Internet Advertising Competition (IAC) Awards Best Insurance Integrated ad campaign
2011 Advertising Agencies Association of India & Bronze – Media Abby Awards at Goa Fest
Advertising Club Bombay 2011 as Best Never Before use of Media
2011 Advertising Agencies Association of India & Gold – Creative Abby Awards at Goa Fest
Advertising Club Bombay 2011 as Direct marketing Dimensional Mail
2011 BBC.com-Campaign India Digital Media Awards Gold – “Financial service website” category
For Birla Sun Life Insurance
2010 APPIES 2010 – Asia Pacific Advertising & Silver Medal & a letter of appreciation for -
Marketing Congress Wealth with Protection Solution campaign
2010 14th
Annual Webby Awards Official Nominee – BSLI Email marketing
Campaign “Save Forest”
2009 Institute of Chartered Accountant of India (ICAI) ICAI Awards for Excellence in Financial
Reporting – Silver in Insurance Category

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2.7 Competitors Analysis
Competitors in Detail:-
 Aviva life insurance: Aviva Life Insurance Company India Pvt. Ltd. is a
joint venture between Aviva of UK and Dabur, one of India's leading producers
of traditional healthcare products. Aviva holds a 26 per cent stake in the joint venture and
the Dabur group holds the balance 74 per cent share.
 Bajaj Allianz: Bajaj Allianz is a joint venture between Allianz AG one of the world's largest
insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the
world. Bajaj Allianz is into both life insurance and general insurance. Allianz Group is one
of the world's leading insurers and financial services providers. Founded in 1890 in
Berlin, Allianz is now present in over 70 countries
 HDFC Standard Life Insurance Co. Ltd: is a joint venture between HDFC Ltd.,
India's largest housing finance institution and Standard Life Assurance Company,
Europe's largest mutual life company. It was the first life insurance company to be
granted a certificate of registration by the IRDA on the 23rd of October 2000.
 ING Vysya Life Insurance Company Limited: is a joint venture between Vysya Bank and ING
Group of Holland, the world's 4th largest financial services group, with presence across50
countries, and a heritage of over 150 years.
 Kotak Mahindra Old Mutual Life Insurance Ltd: is a joint venture between
K otak Mahindra Bank Ltd. (KMBL), and Old Mutual plc. Kotak Mahindra is one of India's
leading financial institutions and offers a range of financial services such as commercial
banking.
 Life Insurance Corporation of India: (LIC) is an autonomous body authorized to run
the life insurance business in India with its Head Office at Mumbai. It has been established by
an act of the Parliament and started functioning from 1/9/1956.

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 ICICI Prudential Life Insurance :ICICI Prudential life insurance is a part of ICICI Bank
 MetLife India Insurance Co. Pvt. Ltd: is a joint venture between MetLife Group and
its Indian partners. The Indian partners include J&K Bank, Dhanalakshmi Bank,
Karnataka Bank, Karvy Consultants, Geojit Securities, Way2Wealth, and Mini Muthoothu.
 Reliance Life Insurance Company: Limited is a part of Reliance Capital Ltd. of the Reliance-
Anil Dhirubhai Ambani Group. The company acquired 100 per cent shareholding
in AMP Sanmar Life Insurance Company in August 2005. Taking over AMP
Sanmar Life provided Reliance Life Insurance a readymade infrastructure and a portfolio.
 SBI Life Insurance: is a joint venture between the State Bank of India and Cardiff
SA of France. SBI Life Insurance is registered with an authorized capital of Rs 500 cr. and a
paid up capital of Rs 350 cr.
 Tata AIG Life Insurance Company: Limited is a joint venture between Tata Group
and American International Group, Inc. (AIG). Tata Group is one of the
oldest and leading business groups of India. Tata Group has had a long association with
India's insurance sector having been the largest insurance company in India prior to the
nationalization of insurance. The Late Sir Dorab Tata was the founder
Chairman of N ew India Assurance Co. Ltd., a group company incorporated way
back in 1919.

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2.8 SWOT ANALYSIS
•Multi-channel distributionandone of the largestdistribution
networksinIndia.
•ImplementingSix-Sigmaprocess.
•Customercentricproductsandservices.
•Trainingprocessof the companyis verystrong.
•Differentplanfordifferentpeoples.
•Superiorinvestmentandriskmanagementframework.
Strength
• Company does not penetrate on the rural market at a time.
• There is no plan for the low income group.
• Fees for the advisor is high than the other company.
weakness
•Insurance marketisverybig,where companycanexpanditshorizon
ininsurance industry.
•Thoughgood investmentand insurance itiseasytotop Indian
customers.
•The huge insurance market (77%) is leftsocompanyhas opportunity
to expand ourproducts.
Opportunity
•OLD HABITS DIE HARD’:It’s still difficulttasktowinthe confidence
of publictowardsprivate company.
•The company isfacingmajorthreatsfrom LIC-whichisanonly
governmentcompany.
•Major Competitorata Glance LIC (Life Insurance Corporation)
Threats

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CHAPTER: 3
REVIEW OF LITERATURE
Literature:
Insurance is a must because of the uncertain future adversities of life. Accidents, illnesses, disability
etc are facts of life that can be extremely devastating. Other than the hospitalization, medication bills
these may run up it’s the aftermath of the incident, the physical well being of the individual that has to
be taken into consideration. Will the individual be in a position to earn as before? A pertinent question,
But what if he is not? Disability can be taken care of by insurance. Your family will not have to go
through the grind due to your present inability. You think twice before taking the plunge into buying
insurance. Is buying insurance a necessity now? Spending an 'extra' amount as premium at regular
intervals where you do not see immediate benefits does not seem a necessity at the moment. May be
later well you could be wrong. Buying Insurance cannot be compared with any other form of
investment. Insurance gives you a lifelong benefit and the returns will definitely come but only when
you need it the most i.e. at the right time. Besides buying insurance early in life is one of the wise
decisions you could take. Because the premium you would be paying would be comparatively lower.
3.1 INSURANCE HISTORY
INSURANCE IN INDIA:
The insurance sector in India has come a full circle from being an open competitive market to
nationalization and back to a liberalized market again. Tracing the developments in the Indian
insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries. A brief
history of the Insurance sector. The business of life insurance in India in its existing form started in
India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.

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Some of the important milestones in the life insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general
insurance business.
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical
information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of
protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the central government
and nationalized. LIC formed by an Act of Parliament, viz. LIC Act,1956, with a capital contribution
of Rs. 5 core from the Government of India. The General insurance business in India, on the other
hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company
established in the year 1850 in Calcutta by the British.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of
conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the
Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance
business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four
company’s viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the
Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a
company
Insurance sector reforms:
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N. Malhotra,
was formed to evaluate the Indian insurance industry and recommend its future direction. The
Malhotra committee was set up with the objective of complementing the reforms initiated in the

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financial sector. The reforms were aimed at “creating a more efficient and competitive financial
system suitable for the requirements of the economy keeping in mind the structural changes currently
underway and recognizing that insurance is an important part of the overall financial system where it
was necessary to address the need for similar reforms…”In 1994, the committee submitted the report
and some of the key recommendations included:
i) Structure
 Government stake in the insurance Companies to be brought down to 50%·
 Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries
can act as independent corporations.
 All the insurance companies should be given greater freedom to operate
ii) Competition
 Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter the
industry· No Company should deal in both Life and General Insurance through a single entity·
 Foreign companies may be allowed to enter the industry in collaboration with the domestic
companies·
 Postal Life Insurance should be allowed to operate in the rural market·
 Only one State Level Life Insurance Company should be allowed to operate in each state.
iii) Regulatory Body·
 The Insurance Act should be changed·
 An Insurance Regulatory body should be set up·
 Controller of Insurance (Currently a part from the Finance Ministry) should be made
independent
iv) Investments·
 Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to
50%·
 GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings
to be brought down to this level over a period of time)
v) Customer Service·
 LIC should pay interest on delays in payments beyond 30 days·
 Insurance companies must be encouraged to set up unit linked pension plans·
 Computerization of operations and updating of technology to be carried out in the insurance
industry. The committee emphasized that in order to improve the customer services and

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increase the coverage of the insurance industry should be opened up to competition. But at the
same time, the committee felt the need to exercise caution as any failure on the part of new
players could ruin the public confidence in the industry. Hence, it was decided to allow
competition in a limited way by stipulating the minimum capital requirement of Rs.100 cores.
The committee felt the need to provide greater autonomy to insurance companies in order to
improve their performance and enable them to act as independent companies with economic
motives. For this purpose, it had proposed setting up an independent regulatory body.
3.2 Insurance Regulatory and Development Authority
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in
December 1999. The IRDA since its incorporation as a statutory body in April 2000 has
fastidiously stuck to its schedule of framing regulations and registering the private sector insurance
companies. The other decisions taken simultaneously to provide the supporting systems to the
insurance sector and in particular the life insurance companies were the launch of the IRDA’s
online service for issue and renewal of licenses to agents. The approval of institutions for imparting
training to agents has also ensured that the insurance companies would have a trained workforce of
insurance agents in place to sell their products, which are expected to be introduced by early next
year. Since being set up as an independent statutory body the IRDA has put in a framework of
globally compatible regulations. In the private sector 10 life insurance and 6 general insurance
companies have been registered.
Life Insurers -:
 HDFC Standard Life Insurance Company Ltd.
 Max New York Life Insurance Co. Ltd.
 ICICI Prudential Life Insurance Company Ltd
 Kotak Mahindra Old Mutual Life Insurance Ltd.
 Birla Sun Life Insurance Company Ltd.
 Tata AIG Life Insurance Company Ltd.
 SBI Life Insurance Company Ltd.
 ING Vysya Life Insurance Company Private Ltd.
 Bajaj Allianz Life Insurance Company Ltd.
 Metlife India Insurance Company Pvt. Ltd.

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General Insurers -:
 Royal Sundaram Alliance Insurance Company Ltd.
 IFFCO Tokio General Insurance Company Ltd.
 TATA AIG General Insurance Company Ltd.
 Bajaj Allianz General Insurance Company Ltd.
 ICICI Lombard General Insurance Company Ltd.
 Reliance General Insurance Company Ltd.

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CHAPTER: 4
RESEARCH METHODOLOGY
4.1 Plan of Research:
RESEARCH TYPE Analytical
SOURCE OF DATA Primary and Secondary
PRIMARY DATA:
 Discussion with the Branch Manager of “BIRLA SUNLIFE INSURANCE”.
 Discussion with the persons who maintain the record.
 Direct observation of working.
 The company profile, annual reports have been obtained from BIRLA SUNLIFE
INSURANCE
SECONDARY SOURCE:
The secondary data was collected on the basis of organizational file, official records, news papers,
management books, preserved information in the company's database and website of the company.
4.2 Data Collection
The data required for the study may be collected either from primary sources or from secondary sources.
A major portion of the data in this study has been collected through secondary sources of data.
Secondary data sources include:
o Company Annual Report
o Internet-websites

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4.3 Presentation of Data, Analysis and Interpretation data
Overview of market
 Outlooks for Equities:
Equity Markets witnessed a big hope rally in March. On the back of expectation of a positive poll
outcome, which would through up a stable ruling alliance at the centre, the BSE Sensex closed at all-
time high above 22,000 levels. Better economic data like falling inflation and lower Q3 current
account deficit further fuelled the rally. Sensex finally settled at 22,386 which was a 6% month on
month increase. Banks, NBFCs and capital goods companies participated in the rally. Defensives like
IT and Pharmaceuticals, were laggards. FIIs were net buyers with net inflow of USD 3.3bn as
compared to an inflow of USD 229mn in the previous month. Domestic mutual funds continued were
also net sellers with outflows of USD 523mn vs. an outflow of USD 215mn in Feb'14. Assuming a
conservative earnings growth of 12%, the BSE Sensex EPS for FY 15 is estimated at Rs.1500. The
Sensex is trading at forward valuations of 15xFY15e earnings, making equity an attractive investment
option
.% Change in 2 months
Table: A.1
INDEX 31-Mar-14 28-Feb-14 %Change
Nifty 6704.2 6276.95 6.81%
Sensex 22386.27 21120.12 5.99%
BSE 100 6707.28 6235.99 7.56%
Dow Jones 16457.66 16321.71 0.83%
Nikkei 14827.83 14841.07 -0.09%
Hang Seng 22151.06 22836.95 -3.00%
Nasdaq 4198.99 4308.12 -2.53%

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 Outlook for Debt:
Bond markets continued to be range bound in March. While the market did not react to the borrowing
calendar for the 1 half of 2015, markets were uncertain ahead of the monetary policy. The 1HFY15
borrowing calendar was expectedly front-loaded with 61.6% of the FY2015 budgeted gross
borrowing, with net issuances at ~8% higher than last year. As per the detailed borrowing calendar, the
weekly dated securities auctions size is Rs140-160 bn. The borrowing has been concentrated again in
the 10-14-year bucket with 45% of the gross borrowings in this bucket. There were almost no fresh
issuances of corporate bonds though banks were active in raising bulk deposits. The 10 year
government bond traded in the range of 8.80%- 8.90% and corporate bond spreads remained at 65 bps.
Despite improving inflation and an appreciating currency, bond yields can be expected to harden on
account of the supply pipeline of government securities coupled with the declining recourse to OMOs.
We expect the 10 year government bond to trade in the range of 8.95% to 9.25% in the near term.
Corporate bond spreads are expected to remain tight at 65 basis points as fresh issuances are not
expected. This is a good opportunity for debt investors to lock into higher yields in duration funds.
% Change in rate of bond in 2 month
Key Indices 31-Mar-14 28-Feb-14 % Change
10 year G-Sec 8.80% 8.86% -0.68%
5 year G-Sec 8.88% 8.98% -1.13%
91 Days T-Bill 8.55% 9.09% -6.32%
364 Days T-Bill 8.70% 8.99% -3.33%
MIBOR 9.89% 8.82% 10.82%
Call Rates 8.03% 7.97% 0.75%
Table: B.1

MMS PROJECT IIBM
24
4.4 Products:
There are total 28 products of the Birla Sun life Insurance into the market which caters the requirement
of general public. Each product has its own features and demand in the public. BSLI takes all
necessary steps to maximise the wealth of their customer by diversifying the investment into the
different areas like investment in Equity, Debt, MMI, Government Securities, Deposits, CBLO and
others. Few products of BSLI are as follows.
1) Assure Fund:
 Objective:
To provide Capital Protection, at a high level of safety and liquidity through judicious
investments in high quality short-term debt.
 STRATEGY:
Generate better return with low level of risk through investment into fixed interest securities
having short-term maturity profile.
 Total Assets:
As on 31st March, 2014 the total amount of assets held by the company under this fund is Rs.
169.47Crores.
 Investment in securities:
As the name of the product is Assured Fund therefore the BSLI assured its customer that the
fund they are investing in this product is invested in the securities which yield assured profit so
to safeguard the customer’s capital and bring them good returns on the capital. Nearly 32.91%
of the fund is invested in the corporate debt and 67.09% is invested in MMI, Deposits, CBLO
and Others. The diversification of investment is given below.

MMS PROJECT IIBM
25
Tabulated bifurcation of fund different market
Table: 1.1
% Allocation of fund in different instrument
Figure: 1.1
Corporate Debt
33%
MMI, Deposits,
CBLO & Others
67%
Corporate Debt
MMI, Deposits, CBLO &
Others
securities Holding
Corporate Debt 32.91%
8.83% National Bank ForAgri. And Rural Development 2015 5.29%
9.62% LIC Housing Finance Ltd. 2015 4.61%
8.97% EID-Parry (India) Ltd. 2016 2.89%
8.6% Bharat Aluminum Company Limited 2016 2.86%
9.75% Housing Development Finance Corps. Ltd. 2016 2.85%
9.8% Power Finance Corps. Ltd. 2016 2.38%
10.1% HDB Financial Services Ltd 2015 1.79%
Other Corporate Debt 3.10%
MMI, Deposits, CBLO & Others 67.09%

MMS PROJECT IIBM
26
 Maturity of Fund:
The funds are invested in such a way that it has low maturity which invested in high quality
short-term debt and it includes 76.93% of fund having maturity of less than 2 years, whereas
23.07% of fund having the maturity between 2 to 7 years. The average maturity of the fund has
slightly increased to 1.33 years from years in the previous month. Assure fund continues to be
predominantly invested in highest rated fixed income instruments.
Fund Maturity
Figure: 1.2
76.93%
23.07%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
Less than 2 years 2 to 7 years
Maturity

MMS PROJECT IIBM
27
2) Protector Fund:
 Objective:
To generate persistence return through active management through active management of fixed
income portfolio and focus on creating long term equity portfolio, which will enhance yield of
composite portfolio with minimum risk appetite.
 STRATEGY:
To invest in fixed income securities with marginal exposure to equity up to 10% at low level of
risk. This fund is suitable for those who want to protect their capital and earn steady return on
investment through higher exposure to debt securities.
 Total Assets:
415.83 Crores
Protector Fund is those products which invest give more priority to secure the fund of the
customer and take limited risk to increase the return. Nearly 36.91% of the fund is invested in
the Government securities, 38.55% in Corporate Debt, 9.77% in Equity and 14.78% is invested
in MMI, Deposits, CBLO and Others. The diversification of investment is given below.

MMS PROJECT IIBM
28
Tabulated bifurcation of fund in different market
securities Holding
GOVERNMENT SECURITIES 36.91%
8.33% Government Of India 2026 11.87%
8.2% Government Of India 2022 1.375
Other Government Securities 7.27%
8.6% Power Finance Corpn. Ltd. 2014 3.11%
10.85% Rural Electrification Corpn. Ltd. 2018 2.76%
9.57% Indian Railway Finance Corpn. Ltd. 2021 2.43%
2% Tata Steel Ltd. 2022 2.33%
9.55% Mahindra And Mahindra Financial Services Ltd. 2014 2.28%
8.64% Power Grid Corpn. Of India Ltd. 2014 1.92%
8.9% Steel Authority Of India Ltd. 2019 1.87%
10.25% Tech Mahindra Ltd. 2014 1.20%
EQUITY 9.77%
ITC Ltd. 0.70%
HDFC Bank Ltd. 0.64%
Infosys Ltd. 0.63%
ICICI Bank Ltd. 0.55%

MMS PROJECT IIBM
29
Housing Development Finance Corpn. Ltd. 0.53%
Reliance Industries Ltd. 0.52%
Tata Consultancy Services Ltd. 0.44%
Larsen And Toubro Ltd. 0.38%
Tata Motors Ltd. 0.34%
Sun Pharmaceutical Inds. Ltd. 0.29%
Other Equity 4.75%
Figure: 2.1
The funds are invested in fixed income securities and long-term equity having low maturity to
long maturity basically reason behind is to give consistent returns to the customer with
minimum risk and it includes 27.44% of fund having maturity of less than 2 years, whereas
20.55% of fund having the maturity between 2 to 7 years and 52% of fund having the maturity
of more than 7 years. The average maturity of the fund 7.27 years. Exposure to G-secs has
decreased to 36.91% from 38.46% while that to MMI has increased to 14.78% from 11.65% on
a MOM basis. Protector fund continues to be predominantly invested in highest rated fixed
income instruments.
26.09%
36.65%
27.02%
9.79%
GOVERNMENT SECURITIES Corporate Debt
EQUITY MMI, Deposits, CBLO & Others

MMS PROJECT IIBM
30
Fund Maturity
Figure: 2.2
 Sectorial allocation of fund:
The fund that BSLI has collected from the customer has well diversified into different sectors,
from this Banking sector has occupied the 20.06% of the fund followed by Software/IT with
16.63% and the least fund hold by the sector is Media and Entertainment which comes to
2.79%. The bifurcation of total funds is given below
% Wise Sectorial Allocation
Figure: 2.3
11.28%
74.53%
14.19%
L ES S TH AN 2 YEAR S
2 TO 7 YEAR S
MO R E TH AN 7 YEAR S
MATURITY
0
5
10
15
20
25
1
20.12
16.57
10.67
13.46
7.87 8.45
6.05
4.65
2.61 2.84
Banking Software/IT FMCG Oil and Gas
Pharmaceutical Automobiles Financial Services Capital goods
Cement Power

MMS PROJECT IIBM
31
3) Enhancer Fund:
 Objective:
Helps you to grow your capital through enhanced returns over a medium to long term
period through investments in equity and debt instruments, thereby providing a good
balance between risk and return.
 Strategy:
To earn capital appreciation by maintaining diversified equity portfolio and seek to earn
regular return on fixed income portfolio by active management resulting in wealth
creation for policy holders
 Total Assets:
6568.24Crores.
Enhancer Fund is the products which gives more importance to increasing the returns of the
customers fund and therefore increase the investment in Equity to enhance the return and at the
same time secure the fund of investor by cordially investment in corporate debt and
government. Exposure to Equities has decreased to 27.01% from28.00% while that to MMI has
increased to 9.79% from 6.08% on a MOM basis. So nearly 26.09% of the fund is invested in
the Government securities, 36.65% in Corporate Debt, 0.45% in Securitized Debt, 27.01% in
Equity and 9.79% is invested in MMI, Deposits, CBLO and Others. The diversification of
investment is given below.

MMS PROJECT IIBM
32
securities Holding
10.75% Reliance Industries Ltd. 2018 0.86%
10.2% Tata Steel Ltd. 2015 0.76%
2% Tata Steel Ltd. 2022 0.76%
9.05% State Bank Of India 2020 0.70%
10.25% Tech Mahindra Ltd. 2014 0.59%
2% Indian Hotels Co. Ltd. 2014 0.55%
9.1% State Bank Of Mysore 2019 0.45%
Securitized Debt 0.45%

MMS PROJECT IIBM
33
EQUITY 27.01%
ITC Ltd. 2.07%
Infosys Ltd. 1.87%
Tata Motors Ltd. 0.94%
Sun Pharmaceutical Inds. Ltd. 0.89%
Other Equity 12.06%
Table: 3.1
Figure: 3.1
26.09%
36.65%
0.45%
27.02%
9.79%
36.81%
Chart Title
Securitised Debt EQUITY
MMI, Deposits, CBLO & Others

MMS PROJECT IIBM
34
21.98% of the fund have the maturity of less than 2 years, 42.78% of the fund has the maturity
from 2-7 years and the remaining 35.24% of the fund having maturity of more than 7 years, as
more percentage of fund having long maturity to enhance the wealth of customer by investing
large part of it in equity and equally in Debt market.
Fund Maturity
Figure: 3.2
18.21% and the least fund hold by the sector is Telecommunication which comes to 2.83%.
The bifurcation of total funds is given below.
0.00% 20.00% 40.00% 60.00% 80.00%
1
11.28%
74.53%
14.19%
1
more than 7 years 14.19%
2 to 7 years 74.53%
Less than 2 years 11.28%

MMS PROJECT IIBM
35
Figure: 3.3
0
5
10
15
20
25
1
20.12
16.57
10.67
13.46
7.87
8.45
6.05
4.65
2.61 2.84
Banking Software/IT FMCG Oil and Gas Pharmaceutical
Automobiles Financial Services Capital goods Cement Power

MMS PROJECT IIBM
36
4) Magnifier Fund:
 Objective:
To maximize wealth by actively managing a diversified equity portfolio.
 Strategy:
To invest in high quality equity security to provide long term capital appreciation with high
level of risk. This fund is suitable for those who want to have wealth maximization over
long-term period with equity market dynamics
 Total Assets:
977.29Crores
Magnifier Fund is the product of BSLI which was made solely for those who want to have
wealth maximization over long-term period with equity market dynamics. Exposure to Equities
has decreased to 81.51% from 84.64% while that to MMI has increased to 17.62% from
14.32% on a MOM basis Magnifier fund continues to be predominantly invested in large
cap stocks and maintains a well-diversified portfolio with investments made across various
sectors, So nearly 0.08% of the fund is invested in the Government securities, 0.80% in
Corporate Debt, 81.51% in Equity and 17.62% is invested in MMI, Deposits, CBLO and
Others. The diversification of investment is given below.

MMS PROJECT IIBM
37
7.59% GOVERNMENT OF INDIA 2015 0.06%
8.2% ASHOK LEYLAND L TD. 2014 0.30%
9.63% POWER FINANCE CORPN. L TD. 2014 0.15%
9.25% I C I C I HOME FINANCE CO. L TD. 2014 0.15%
9.46% NATIONAL BANK FOR AGRI. ANDRURAL DEVELOPMENT 2015 0.08%
9.2% IDFC L TD 2015 0.08%
8.8% HDB FINANCIAL SERVICES L TD 2016 0.01%
EQUITY 81.51%
ITC LTD. 6.12%
INFOSYS L TD. 5.44%
HDFC BANK LTD. 5.37%
RELIANCE INDUSTRIES LTD. 5.03%
ICICI BANK L TD. 4.89%
HOUSING DEVELOPMENT FINANCE CORPN. LTD. 4.50%
TATA CONSULTANCY SERVICES LTD. 4.19%
LARSEN AND TOUBRO L TD. 3.44%
TATA MOTORS LTD. 2.77%
SUN PHARMACEUTICAL INDS. LTD. 2.62%
OTHER EQUITY 37.14%
Table: 4.1

MMS PROJECT IIBM
38
Figure: 4.1
99.46% of the fund have the maturity of less than 2 years, 0.07% of the fund has the maturity
from 2-7 years and the remaining 0.47% of the fund having maturity of more than 7 years, and
the average maturity period comes to 1.20 years, with low maturity, high risk and well
diversified fund generate good returns to the invested capital.
Fund Maturity
Figure: 4.2
GOVERNMENT
SECURITIES,
1.73%, 2%
Corporate Debt,
2.69%, 3%
EQUITY, 93.59%,
93%
MMI, Deposits,
CBLO & Others,
1.99%, 2%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
1
11.28%
74.53%
14.19%
Less than 2 years 2 to 7 years more than 7 years

MMS PROJECT IIBM
39
17.18% and the least fund hold by the sector is Telecommunication which comes to 3.06%.
Figure: 4.3
19.75
17.18
9.46
10.68
9.24
8.02
6.11
4.22
3.73
3.06
0 5 10 15 20 25
Banking
Software/IT
FMCG
Oil and Gas
Pharmaceutical
Automobiles
Financial Services
Capital goods
Metal
Telecommunication
% WISE SECTORAL ALLOCATION

MMS PROJECT IIBM
40
5) Super 20 Fund:
 Objective:
To generate long-term capital appreciation for policyholders by making investments in
fundamentally strong and liquid large cap companies.
 Strategy:
To build and manage a concentrated equity portfolio of 20 fundamentally strong large cap
stocks in terms of market capitalization by following an in depth research-focused investment
approach. The fund will attempt diversify across sectors and will invest in companies having
financial strength, robust, efficient & visionary management & adequate market liquidity . It
will adopt a disciplined and flexible approach towards investing with a focus on generating long-
term capital appreciation. The non-equity portion of the fund will be invested in highly rated money
market instruments and fixed deposits.
 Total Assets:
372.16Crores
This fund absolutely deal in the equities and that also in large cap equities to earn greater
returns for long term capital appreciation for policy holder, though certain portion is kept for
the deposits and investment in money market instruments. Exposure to Equities has decreased
to 92.03% from 96.73% while that to MMI has increased to 7.97% from 3.27% on a
MOM basis. So nearly 92.03% of the fund is invested in Equity and 7.97% is invested in
MMI, Deposits, CBLO and Others. The diversification of investment is given below.

MMS PROJECT IIBM
41
securities Holding
EQUITY 92.03%
ITC LTD. 7.94%
HDFC BANK LTD. 6.93%
ICICI BANK L TD. 6.84%
INFOSYS L TD. 6.65%
LUPIN LTD. 5.52%
SUN PHARMACEUTICAL INDS. LTD. 5.15%
WIPRO LTD. 4.23%
OTHER EQUITY 29.83%
Table: 5.1
Figure: 5.1
EQUITY, 92.03%
MMI, Deposits,
CBLO & Others,
7.97%

MMS PROJECT IIBM
42
100% of the fund have the maturity of less than 2 years, , and the average maturity period
comes to 0.01 years, with low maturity, high risk and well diversified fund generate good
returns to the invested capital.
As the major part of the fund is invested in the equities and in that the highest share is of
Software and IT with 21.53% of share in investment and on 2nd number comes of
pharmaceutical having 15.82%. The diversification of fund is given below in different sectors
Figure 5.2
20.12
16.57
10.67
13.46
7.87 8.45
6.05
4.65
2.61 2.84
Series1

MMS PROJECT IIBM
43
6) Platinum Premier Fund :
 Objective:
To optimize the participation in an actively managed well-diversified equity portfolio of
fundamentally strong blue chip companies while using debt instruments and derivatives to
lock -in capital appreciations. The use of derivatives will be for hedging purposes only and as
approved by the IRDA.
 Strategy:
To dynamically manage the allocation between equities and fixed income instruments, while
using derivatives when necessary and for hedging purposes only. The equity investment
strategy will revolve around building and actively managing a well-diversified equity portfolio
of value& growth driven fundamentally strong blue chip companies by following a research-
focused investment approach. On the fixed income side, investments will be made in
government securities, high rated corporate bonds and money market instruments.
 Total Assets:
856.9Crores
The most of the fund is used to invest in equities and also certain amount of fund also put in
the fixed income instruments. The fund are well diversified in the different sectors are as follows.
Exposure to Equities has increased to 93.59% from 88.56% while that to MMI has decreased to
1.99% from 5.83% on a MOM basis. Nearly 1.73% of the fund is invested in the Government
securities, 2.69% in Corporate Debt, 93.59% in Equity and 1.99% is invested in MMI,
Deposits, CBLO and Others.

MMS PROJECT IIBM
44
8.85% NHPC L TD. 2020 0.56%
9.18% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2018 0.46%
RURAL ELECTRIFICATION CORPN. L TD. 2020 0.43%
9.25% POWER GRID CORPN. OF INDIA L TD. 2019 0.32%
8.46% RURAL ELECTRIFICATION CORPN. L TD. 2028 0.27%
8.85% N H P C L TD. 2019 0.19%
9.45% STATE BANK OF INDIA 2026 0.17%
9.2% HOUSING DEVELOPMENT FINANCE CORPN. LTD. 2018 0.08%
EQUITY 93.59%
I T C L TD. 7.70%
INFOSYS L TD. 6.51%
H D F C BANK LTD. 6.44%
I C I C I BANK L TD. 6.36%
LARSEN AND TOUBRO L TD. 4.35%
STATE BANK OF INDIA 3.25%
OIL AND NATURAL GAS CORPN. L TD. 3.10%
OTHER EQUITY 39.06%
Table: 6.1

MMS PROJECT IIBM
45
Figure: 6.1
There is low percentage of fund is under the maturity of less than 2 years which comes to
11.28% and the very high percentage of fund is under the maturity of 2-7 years category which
is 74.53%, whereas only 14.19% of fund is under the category of more than 7 year of maturity
but if we see the average maturity period comes to 6.32 years. Fund
Maturity
Figure: 6.2
1.73%
2.69%
93.59%
1.99%
GOVERNMENT SECURITIES
Corporate Debt
EQUITY
Others
0.00%
20.00%
40.00%
60.00%
80.00%
1
11.28%
74.53%
14.19%
MATURITY

MMS PROJECT IIBM
46
The fund that BSLI has collected from the customer has well diversified into different sectors, from this
Banking sector has occupied the 20.12% of the fund followed by Software/IT with 16.57% and the least
fund hold by the sector is cement which comes to 2.61%. The bifurcation of total funds is given below.
Figure: 6.3
20.12
16.57
10.67
13.46
7.87 8.45
6.05
4.65
2.61 2.84
1
Banking Software/IT FMCG Oil and Gas
Pharmaceutical Automobiles Financial Services Capital goods
Cement Power

MMS PROJECT IIBM
47
7) Titanium III Fund
 Objective:
The primary objective of the fund is to provide Capital Protection, at a high level of
safety and liquidity through judicious investments in high quality short-term debt.
 Strategy:
Generate better return with low level of risk through investment into fixed interest
securities having short-term maturity profile
 Total Assets:
7.36Crores
The main objective of this fund is to secure the fund of investors by investing it in debt market
and also generate income for the investors by putting major share of the fund in well
diversified equity portfolio. The investment is done in such a way that it has high liquidity and
therefore having low maturity. Exposure to Equities has decreased to 54.61% from 50.66%
while that to MMI has slightly decreased to 1.99% from 1.45% on a MOM basis. Titanium III
fund is predominantly invested in large cap stocks and maintains a well-diversified
portfolio. The fund are well diversified in the different sectors are as follows. Nearly 14.61 % of the
fund is invested in the Government securities, 28.79% in Corporate Debt, 54.61% in Equity
and 1.99% is invested in MMI, Deposits, CBLO and Others.

MMS PROJECT IIBM
48
9.37% National Housing Bank 2015 5.44%
9.15% Export Import Bank Of India 2015 5.43%
9.2% IDFC Ltd 2015 5.43%
9.46% National Bank For Agri. And Rural Development 2015 1.36%
EQUITY 54.61%
ITC Ltd. 3.74%
T ata Consultancy Services Ltd. 2.94%
Mahindra And Mahindra Ltd. 2.81%
Infosys Ltd. 2.57%
State Bank Of India 2.32%
Other Equity 24.38%
Table: 7.1

MMS PROJECT IIBM
49
Figure: 7.1
The huge chunk of the fund having the low maturity which comes to 99.87% of the fund having
maturity of less than 2 years where as remaining having the maturity of more than 7 years.
Fund Maturity
Figure: 7.2
10%
20%
68%
2%
70%
GOVERNMENT SECURITIES
Corporate Debt
EQUITY
Others
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
1
11.28%
14.19%
Maturity
Less than 2 years more than 7 years

MMS PROJECT IIBM
50
The fund are well diversified in different sectors with having low maturity to make them highly
liquid in nature. Therefore the top runner up sector who having high chunk of fund is Banking
(22.90%), 2nd is software and IT (16.11) and the last goes to telecommunication (2.23%). The
list of top sectors is given below.
5.44 5.87 6.56 6.56
8.26 8.84
11.66
13.73 13.92 14.2
0
2
4
6
8
10
12
14
16
1
% wise Sectoral Allocation
Automobiles Diversified Auto ancilliary Cement Agri related
Capital goods Software/IT Pharmaceutical Oil and Gas FMCG

MMS PROJECT IIBM
51
8) Pure Equity:
 Objective:
The objective of the fund is to provide long-term wealth creation by actively managing
portfolio through investment in selective businesses. Fund will not invest in businesses that
provide goods or services in gambling, lottery/contests, animal produce, liquor , tobacco,
entertainment like films or hotels, banks and financial institutions.
 Strategy:
The equity investment strategy will revolve around building and actively managing a well-
diversified equity portfolio of value &growth driven fundamentally strong companies by
following a research-focused investment approach. Equity investments will be made based
on the following criteria: Investment in companies will be made in strict compliance
with the objective of the fund, Fund will not invest in banks and financial institutions
and companies whose interest income exceeds 3% of total revenues, Investing in
leveraged-firms is restrained on the provision that heavily indebted companies ought to
serve a considerable amount of their revenue in interest payments.
 Total Assets:
5.02Crores
The fund that has generated from the customer will be invested in the business and not on those
businesses that provide goods or service in gambling, lottery/contests, animal produce, liquor
, tobacco, entertainment like films or hotels, banks and financial institutions. It has been
invested by keeping in mind for long term to generate high profit with well diversification.
Exposure to Equities has increased to 96.91% from
95.41% while that to MMI has decreased to 3.09% from 4.59% on a MOM basis. Nearly
96.91% of the fund is invested in the Equity and 3.09% is invested in MMI, Deposits, CBLO
and Others.

MMS PROJECT IIBM
52
securities Holding
EQUITY 96.61%
ITC Ltd. 3.74%
Mahindra And Mahindra Ltd. 2.81%
Infosys Ltd. 2.57%
State Bank Of India 2.32%
Other Equity 24.38%
Table: 8.1
Figure: 8.1
96.61%
3.09%

MMS PROJECT IIBM
53
This fund having the long term maturity which is basically more than 7 years because all the
funds are invested in the equity and money market instrument and its similar type.
The fund that BSLI has collected from the customer has well diversified into different sectors, from this
FMCG sector has occupied the 14.20% of the fund followed by Oil and Gas with 13.92% and the least
fund hold by the sector is Automobile which comes to 5.44%. The bifurcation of total funds is given
below.
Figure: 8.2
5.44 5.87 6.56 6.56
8.26 8.84
11.66
13.73 13.92 14.2
0
2
4
6
8
10
12
14
16
1
Automobiles Diversified Auto ancilliary
Cement Agri related Capital goods
Software/IT Pharmaceutical Oil and Gas
FMCG

MMS PROJECT IIBM
54
9) Liquid Plus:
 Objective:
To provide superior risk-adjusted returns with low volatility at a high level of safety and
liquidity through investments in high quality short term fixed income instruments - upto1 year
maturity
 Strategy:
The fund will invest in high quality short-term fixed income instruments – up to 1-year
maturity. The endeavor will be to optimize returns while providing liquidity and safety with
very low risk profile.
 Total Assets:
28.52 Crores.
As the name suggest liquid plus fund, it is but obvious that this fund is purely for those who do
not want to make long term investment and therefore whole of fund is invested in high quality
short term fixed income instruments - upto1 year maturity. The average maturity of the
fund has slightly increased to 0.66 years from 0.42 years in the previous month.
securities Holding
Table: 9.1

MMS PROJECT IIBM
55
Figure: 9.1
 Maturity Profile:
The fund is invested totally in short term liquid market with fixed return and low risk profile
there the maturity of the whole asset is less than 2 years.
100%
MMI, Deposits, CBLO & Others
1

MMS PROJECT IIBM
56
10) Pension Growth Fund:
 Objective:
This fund option helps build your capital and generate better returns at moderate level of risk,
over a medium or long-term period through a balance of investment in equity and debt.
 Strategy :
Generate better return with moderate level of risk through active management of fixed income
portfolio and focus on creating long term equity portfolio which will enhance yield of
composite portfolio with low level of risk appetite.
 Total Assets:
36.49Crores
The fund are allocated under this product in such a way that it generate better return over a
long period of time with moderate level of risk. As the name of this fund is pension plan
therefore to generate the amount for the long period of time the company need to invest in
those assets which have long maturity and fixed income over a long period of time.Exposure
to Equities has decreased to 18.42% from19.14% while that to MMI has increased to
17.44% from 16.68% on a MOM basis. Nearly 29.34 % of the fund is invested in the
Government securities, 34.81% in Corporate Debt, 18.42% in Equity and 17.44% is invested in
MMI, Deposits, CBLO and Others.

MMS PROJECT IIBM
57
securities Holding
9.2% Housing Development Finance Corpn. Ltd. 2018 5.42%
9.4% National Bank For Agri. And Rural Development 2016 2.74%
9.65% Cholamandalam Investment And Finance Co. Ltd. 2018 2.70%
9.3% State Bank Of India 2021 2.70%
9.55% Hindalco Industries Ltd. 2022 2.68%

MMS PROJECT IIBM
58
EQUITY 18.42%
ITC Ltd. 1.76%
Infosys Ltd. 1.54%
Lupin Ltd. 0.71%
Oil And Natural Gas Corpn. Ltd. 0.64%
Other Equity 7.47%
Table: 10.1
Figure: 10.1
29.34%
34.81%18.42%
17.44%
Chart Title

MMS PROJECT IIBM
59
The assets having the maturity of less than 2 years to more than seven years. This product has
been created for long term purpose who having long maturity and therefore more percentage of
fund comes under the category of more than 7 years which comes to 51.22%, 36.48% of funds
comes under the category of 2 – 7 years and only 12.30% of fund comes under the category of
less than 2 years, and average maturity comes to 8.32 years.
Fund Maturity
Figure: 10.2
16.25% and the least fund hold by the sector is Alcohol Beverages which comes to 1.62 %.
Less than 2 years
2 to 7 years
more than 7 years
Perc.
12.30%
36.48%
51.22%

MMS PROJECT IIBM
60
Figure: 10.3
7.21
1.62
6.28
22.15
2
5.48
16.25
10.35
11.93 11.73
0
5
10
15
20
25
1
Automobiles
Alcohol Beverages
Financial Services
Banking
Metal
Capital goods
Software/IT
Pharmaceutical
Oil and Gas
FMCG

MMS PROJECT IIBM
61
CHAPTER: 5
FINDINGS
 To be successful in marketing of insurance products, the entire business scenario
has to be taken into account.
 Attractive schemes and brand image are the most important factor that influences the buying
behavior of the consumers.
 Majority of respondents will shift to any other insurance company.
 People are not satisfied with the opted insurance. It was found that the
reason for the dissatisfaction of consumer is high premium, delay in claim
settlement and poor after sale service.
 So to achieve a greater insurance penetration, insurance sector companies have to
create a more vibrant and competitive industry, with greater efficiency, choice of products
and value for customers.

MMS PROJECT IIBM
62
CHAPTER: 6
RECOMMENDATIONS
 Birla Sun Life Insurance Ltd should have more pension plans, more children plans and more
help line plans.
 Birla Sun Life Insurance Ltd should have proper division of departments under heads.
 Developing and implementing superior risk management and investment strategies
to offer sustainable and stable returns to our policyholders.
 Company should target each and every class of the society.
 Leveraging technology to service customers quickly, efficiently and conveniently.
 Company should provide full information to the customers before targeting so they
can take interest and become more aware about insurance.

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63
CHAPTER: 7
CONCLUSION
Different product of BSLI has different features , product like Assured fund in this the amount are
invested in high quality short term maturity securities, whereas product like Pure Equity the fund are
invested for long term in blue chip companies by diversifying the investment. Therefore BSLI invest
the fund according to the requirement of the customer, if the customer has chooses the fund like liquid
plus equity then the BSLI will invest in those assets which having low maturity like MMI and short
term debt which secure the money of investor.
The market potential for a private insurance company is found to be greater in the long
run as most of the Indians are of the opinion that, private insurance companies
would be able to perform well in the future. The private and foreign insurance companies have to
take immediate steps in appointing more number of agents and/or advisors in addition to the
employees as it has been found out that agents are the best channel to reach the general
public regarding selling of insurance products. The private and foreign insurance
companies have to concentrate on the factors like 'Prevention of Loss', 'Assured Returns'
and 'Long term Investment'. They can also focus on an insurance amount of Rs. 1 – 2
Lakh with 'money back policies'. Hence, the market has potential. The private
and foreign insurance companies that are taking immediate steps can tap it easily & rapidly.

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64
BIBLIOGRAPHY
 Birlasunlife.com
 Ssrn.com
 Doaj.org
 business.illinois.edu
 www.studymode.com
 Moneycontrol.com

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