FUND UPDATE •IMPingREO Life Investment Philosophy •Market Review •Outlook for Markets •Risk Return Profile of Funds •Debt Fund
•Secure Fund •Balance Fund •Growth Fund •Guaranteed Growth Fund •Equity Fund •IMPingREO Guaranteed NAV Fund •Active Asset
Allocation Fund •Prime Equity Fund •Preserver Fund •Pension Prime Equity Fund •Pension Preserver Fund •Pension Liquid Fund •Pension
Debt Fund •Pension Equity Fund •Glossary Apr. '13 FUND UPDATE •IMPingREO Life Investment Philosophy •Market Review •Outlook for
Markets •Risk Return Profile of Funds •Debt Fund •Secure Fund •Balance Fund •Growth Fund •Guaranteed Growth Fund •Equity Fund
•IMPingREO Guaranteed NAV Fund •Active Asset Allocation Fund •Prime Equity Fund •Preserver Fund •Pension Prime Equity Fund •Pension
Preserver Fund •Pension Liquid Fund •Pension Debt Fund •Pension Equity Fund •Glossary Apr. '13 IMPingREO Life Investment
Philosophy IMPingREO Life Investment Philosophy The Company will pursue an investment philosophy that is aligned to its clearly
stated values of being Transparent, Trustworthy, Knowledgeable and displaying Optimism. The investment philosophy has the following
essential guiding principles Transparent: We will manage to the objectives clearly stated in the investment mandates and as set out
in the product documents and will disclose all required and relevant information to Policy Holders in a timely and clear manner
Trustworthy: We will comply fully with all the regulatory requirements when investing our Policy Holders assets. All investment and
portfolio management decisions will be executed in both a responsible and an effective risk aware manner Knowledgeable: We will use
our insightful investment research of financial markets companies and economies when we execute the strategic not trading decisions
required when managing our Policy Holders investment portfolios Optimism:Our experienced investment professionals will strive to
deliver sound appropriate and consistent long-term investment performance relative to our products clearly stated benchmarks
Investment Team Profile Siyamsunder Chat, Vice President (Investments), joined IMPingREO Life in September 2010, to head the Equity
Investments area. He has an experience of 98 years of experience in fund management. Prior to joining IMPingREO Company, Siyam
has worked with two mutual fund companies, initially as a part of the start-up team at Tata Asset Management Ltd for 10 years
(1994-2004) and later at Principal PNB Asset Management, where he then worked for more than 6 years. He is an Electrical Engineer
from VJTI (Mumbai) and a post-graduate in Management (M.M.S. Finance) from Narsee Monjee Institute of Management Studies. Shobit
Gupta, Vice President (Investments), Fixed Income, has over 15 years of experience in Fixed Incomeand Foreign Exchange market. He
has worked extensively in the field of Foreign exchange and Interest Rate derivatives at ABN AMRO bank and has handled. Fixed
Income portfolios at Asset management companies like Kotak Mahindra Mutual fund, IMPingREO Asset Management Co Ltd., and Principal
Asset Management co Ltd. He has done his graduation in Economics, Maths and Statistics and has qualified CFA -Hyderabad and CFA
-USA. Monthly Report02 Market Review Market Review Executive Summary Indian markets—both equities and fixed income—remained
positive as falling commodity prices and decent numbers from private banks improved sentiments. 12 Inflation data was positive,
with WPI better than expected, and CPI lower than last month. Index of Industry Production (IIP) also surprised positively.
Large-cap indices—both the Nifty and the Sensex—were up more than 4% in April. The CNX mid-cap index rose sharply, by5.6%. Over the
12 months until 30th April 2013, Indian equities underperformed global markets inspite of rallying more than12%. Returns in the
Indian bond markets were positive: the benchmark 10-year G-Sec yield moved down by 0.23% to 7.73% after the sharp fall in commodity
prices. We continue to remain cautious on equity markets from a medium-term point of view as the corporate earnings announced so
far are mixed. In addition, the limited scope of rate cuts as articulated by the Reserve Bank of India will not be taken positively
by the market. It is likely there could be interim rallies in the market, but these would be difficult to sustain until a visible
improvement in corporate earnings is seen. From the perspective of the fixed income market, we see this as a gradual rate-cutting
cycle, with commodity prices and capital inflows making us bullish on the fixed income market. Markets Indices Month-End Level
1-Month Change 3-Month Change 6-Month Change 1-Year Change BSE Sensex 19504.18 3.55% -1.96% 5.40% 12.62% BSE 100 5941.35 4.63%
-2.46% 5.70% 12.77% Nifty 5930.2 4.36% -1.73% 5.53% 13.00% CNX Midcap 7818.6 5.63% -6.52% 0.72% 4.65% MSCI Europe# 101.87 1.99%
0.33% 10.53% 16.09% MSCI World# 1476.14 1.31% 5.62% 12.97% 16.16% MSCI Emerging Market # 1039.45 -0.89% -2.22% 4.03% 3.15% 3 month
Yield * 7.56% -0.62% -0.38% -0.52% -0.81% 10 y Gov Yield * 7.73% -0.23% -0.18% -0.49% -0.94% 10 y AAA Yield* 8.85% -0.06% -0.02%
-0.19% -0.57% * As yields rise (fall), bond prices fall (rise); the longer the maturity of the bond the larger the change in price
for a given change in interest rate. The change in Yield is a percentage change. # Changes in the index value are based on INR.
Review of the Economy Headline inflation (WPI) for March surprised positively, at 5.96% YOY; the biggest surprise was the easing of
core inflation from 3.8% YOY to 3.5% YOY. The low inflation number was chiefly attributable to primary articles, led by lower
prices for fruits and vegetables. The combined CPI inflation for March was better than expected, although it remained elevated at
10.39% YOY (52 bps lower than the previous month). This was attributed largely to food items. Core CPI increased from 8.4% in
February to 8.5% in March. Industrial production was better than expectations, with the February growth being 0.6% YOY, better than
last month and also above market expectations, led by a 2.2% rise in manufacturing sector. Mining and electricity contracted at
-8.1% and 3.2% respectively. 1 Wholesale Price Index, 2Consumer Price Index Monthly Report03 Parliament resumed its budget
session on 22nd April with Food Security, Finance, Insurance and Pension Bills among the key ones pending to be tabled. However,
the session started off with the Opposition disrupting proceedings over the contentious issues of coal allocation and 2G spectrum
scams. The Finance Bill was finally passed with amendments that included a much- awaited cut in withholding tax on foreign
investments in debt from 20% to 5%, and acceptance of the Tax Residency Certificate as sufficient document. Review of Markets
Equity markets Indian equity markets continued their outperformance during the month with the NIFTY rising more than 4% during the
month. However, on a 12-month relative basis, domestic markets still lag the global indices. The broader market also rose during
the month but this was surprisingly accompanied by a rise in implied volatility. Falling crude prices and decent numbers from
private banks improved sentiments. FIIs continued to be large buyers (net +$1 bn), though domestic institutions' selling continued
for the fourth consecutive month. For the month, there was an outperformance from sectors such as Banks, Telecom and Healthcare
while sectors such as IT and Metals underperformed. Fixed Income Market The fixed income market remained positive in April 2013
after a steep correction in global commodity prices. The yield on the benchmark 10-year bond moved down by 0.23% to 7.73%
(Chart-2). The liquidity deficit corrected during 3 the month: it went down to Rs. 85,100 crore under the LAF , well above the
comfort zone of the RBI. However, this should improve with the anticipated open-market operations by the RBI, and in addition to
that, the expected Government spending. Long-dated corporate bonds underperformed gilts with the yield-spread on 10-year AAA bonds
rising by 0.5% to 1.12%. Medium-term corporate bonds outperformed both gilts and long-term corporate bonds. In the shorter end of
the market, 1 4 year CD rates were at 8.35%, which is 0.425% lower than the previous month. Outlook for Markets We remain cautious
on the Equity market in the near-term The earning season has been mixed so far, with the March 13 quarterly numbers from private
banks better than expected, in contrast to disappointing ones from IT companies, which also lowered their guidance. The session
currently underway in Parliament has been a near-total washout, as the Opposition has repeatedly stalled proceedings, making it one
of the worst in the past 25 years. Reform has taken a backseat—not a single bill was placed for consideration during the session.
In addition, the limited scope of rate cuts as articulated by the RBI is considered negative by the market. Globally, the rate cut
by the European Central Bank and a continuation of global liquidity has been the only support for the global indices. Data points
from US and Europe have been positive, resulting in a succession of record-high levels for the S&P 500, and a subsequent
re-allocation of capital into global indices, including emerging economies like India. FIIs continued their purchases in Indian
equities, with net purchases of over $11.5 bn in the first four months. Positive inflows are likely to continue thanks to sustained
high liquidity levels, though incremental buying could be difficult at higher levels, until there are positive surprises in the
upcoming quarterly results. (So far the up-move has happened on account of positive macro news rather than any meaningful
improvement in corporate earnings.) Redemptions faced by domestic institutions has led to their selling and negating a large part
of the FII purchases. This outflow from domestic funds is expected to abate in the coming months. On the valuations front, the P/E
multiple for the Sensex is around 14x on a forward (FY14) basis, marginally below the long-term average of 15x. In the near-term,
the markets are likely to trade with a downside bias (with intermittent Monthly Report04rallies) until there are positive cues from
corporate earnings. 3Liquidity Adjustment Facility, 4Certificate of Deposit. We are positive on the Fixed Income market The RBI
cut policy rates by 25bps, as expected, but continued with a cautious guidance. Despite its hawkishness, we think its actions will
be data-driven. We believe that the more the RBI delays the rate-cutting cycle, the more growth will weaken and the more it will
help to bring down high inflation and the current account deficit (as domestic demand slows). Further, weaker growth would also put
greater pressure on the government to keep its expenditure under control and to accelerate project approvals to boost growth.
Hence, we judge that slow and delayed rate cuts should gradually correct India's imbalances, automatically creating more space for
rate cuts. We see this as a gradual rate-cutting cycle, with commodity prices and capital inflows likely to determine the timing of
the rate actions. We believe lower commodity prices, if sustained, could reduce CAD by nearly 1% of GDP; this could lead to further
moderation in inflation. Several growth indicators like PMI, auto sales growth and the trend in capex remain weak. While we believe
that the RBI would continue to remain cautious, a repeated downside surprise in inflation, increasingly benign trade deficit and
weak growth will create further room for monetary easing. The past – Charts of Equity and Fixed Interest returns Chart 1 and Chart
2 depict the equity and debt market performance over the past year Monthly ReportChart 1: Performance of Equity Indices Chart 2:
Performance of Debt Indices 05 Risk Return Profile of Funds Risk Return Profile of Funds IMPingREO Life offers a wide range of
fund options catering to various risk-return appetite. You can invest either in equity, or in debt or in hybrid fund and even
change your investment strategy. You can choose from these funds depending on your risk appetite, age, time horizon for important
life stage goals like child education planning, retirement planning, etc. The risk return chart below helps you choose the right
fund for your investment needs. Monthly Report06RISKHigh Risk Low Risk Medium Risk RETURNIMPingREO Equity Pension Fund* IMPingREO
Equity Fund * IMPingREO Prime Equity Pension Fund* IMPingREO Prime Equity Fund IMPingREO Preserver Pension* IMPingREO Preserver
Fund IMPingREO Debt Pension Fund * IMPingREO Debt Fund* IMPingREO Liquid Pension* *Available for existing customers only subject to
product terms and conditions IMPingREO Secure Fund IMPingREO Balanced Fund IMPingREO Guaranteed NAV Fund IMPingREO Growth Fund
IMPingREO Active Asset Allocation Fund IMPingREO Debt Fund IMPingREO Debt Fund Fund Objective: The fund seeks to generate income
through an investment mix of high quality bonds and money market instruments. Launch Date: November 2, 2004 Net Asset Value (NAV)
as on 30th Apr. 2013: Rs. 19 Assets Under Management (AUM): Rs. 588 mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00
13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00
Nov/04Jan/05Mar/05May/05Jul/05Sep/05Nov/05Jan/06Mar/06May/06Jul/06Sep/06Nov/06Jan/07Mar/07May/07Jul/07Sep/07Nov/07Jan/08Mar/08May/08J
ul/08Sep/08Nov/08Jan/09Mar/09May/09Jul/09Sep/09Nov/09Jan/10Mar/10May/10Jul/10Sep/10Nov/10Jan/11Mar/11May/11Jul/11Sep/11Nov/11Jan/12Ma
r/12May/12Jul/12Sep/12Nov/12Jan/13Mar/13May/13 Fund Performance Period One year Fund Return 12.49% Benchmark Index Return 10.70%
Three Years 8.92% 7.79% Five Years 9.50% 7.32% Since inception 7.85% 6.80% Corporate Debt Rating Profile AAA 96.58% AA+ 3.42%
Portfolio Holdings RatingTop Ten Holdings-Debt % SOVEREIGN AAA AAA SOVEREIGN AAA SOVEREIGN AAA AAA SOVEREIGN SOVEREIGN 8.19% GSEC
16-Jan-2020 10.40% Reliance Ports And Terminals Limited 18-07-2021 9.80% LIC Housing Finance Ltd 09-Jan-2015. 8.97% GOI
05-Dec-2030. 8.25% Reliance Capital Limited 03-05-2013. 8.07% CGL 03-07-2017 9.95% State Bank of India 16-Mar-2026 9.90% HDFC Ltd.
11-March-2014 8.33% GOI SEC 09-07-2026 7.83% GSEC 11-Apr-2018 8.68 7.52 6.07 5.96 5.10 4.77 4.76 4.30 4.17 3.96 Returns are
compounded annualised and net of charges. Benchmark Index is the Crisil Composite Bond Index. Asset Allocation CorporateDebt 57%
Gsec 40% Others 3% Fixed Income Duration: 4.29 Years Monthly Report07 Equity Sector Allocation Equity Sector Allocation
IMPingREO Secure Fund Fund Objective: The fund seeks to achieve long term moderate capital growth through an investment mix of upto
20% equity and the balance in high quality bonds and money market instruments. Launch Date: November 2, 2004 Net Asset Value (NAV)
as on 30th Apr.2013: Rs. 20.06 Assets Under Management (AUM): Rs. 306mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00
13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50 21.00
Nov/04Jan/05Mar/05May/05Jul/05Sep/05Nov/05Jan/06Mar/06May/06Jul/06Sep/06Nov/06Jan/07Mar/07May/07Jul/07Sep/07Nov/07Jan/08Mar/08May/08J
ul/08Sep/08Nov/08Jan/09Mar/09May/09Jul/09Sep/09Nov/09Jan/10Mar/10May/10Jul/10Sep/10Nov/10Jan/11Mar/11May/11Jul/11Sep/11Nov/11Jan/12Ma
r/12May/12Jul/12Sep/12Nov/12Jan/13Mar/13May/13 FundPerformance Period One year Fund Return 11.20% Benchmark* 10.97% Three Years
7.02% 7.06% Five Years 7.40% 6.54% Since inception 8.54% 8.22% Returns are compounded annualised and net of charges. Benchmark :
Crisil Composite Bond Index(85%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(15%) Asset Allocation Fixed Income
Duration: 3.87 Years Equity 15%Gsec 29% Others 4% CorporateDebt 52% Corporate Debt Rating Profile AAA 100% SectorAllocation
Financial Services Consumer Products Oil & Gas IT Health Care Auto Industrial Manufacturing, Construction & Infra Miscellaneous
Metals & Mining Power Cement Telecommunication % 29.9712.3311.2010.797.016.985.244.914.263.412.141.76 Portfolio Holdings Top Ten
Holdings-Equity % ITC Ltd. 1.25 ICICI Bank Ltd. 0.95 Housing Development Finance Corporation Ltd 0.94 HDFC Bank Ltd 0.94 Reliance
Industries Ltd. 0.90 Infosys Ltd. 0.64 Larsen & Toubro Ltd 0.56 Tata Consultancy Services Ltd. 0.53 Oil & Natural Gas Corporation
Ltd 0.50 Tata Motors Ltd 0.40 Rating Top Ten Holdings-Debt % AAA 0.00% HDFC Ltd. 14-Jun-2016 8.13 SOVEREIGN 7.59% GoI Sec
12-04-2016. 6.56 SOVEREIGN 8.19% GSEC 16-Jan-2020 5.05 AAA 9.25 HDFC 06-12-2013 4.91 SOVEREIGN 8.79% GOI 08-Nov-2021 4.16 AAA 8.84%
PFC 04-03-2023 4.00 AAA 9.40% REC 20-07-2017 3.37 AAA 8.95% Larsen & Toubro Ltd 26-05-2020 3.34 AAA 9.46 PFC Ltd 02-May-2015. 3.32
AAA 8.25% Reliance Capital Limited 03-05-2013. 3.26 Monthly Report8 Equity Sector Allocation Equity Sector Allocation IMPingREO
Balanced Fund Fund Objective: The fund seeks to achieve long term capital growth through an investment mix of upto 40% equity and
the balance in high quality bonds and money market instruments. Launch Date: November 2, 2004 Net Asset Value (NAV) as on 30th
Apr.2013: Rs. 20.83 Assets Under Management (AUM): Rs. 908mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00
14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50 21.00
Nov/04Jan/05Mar/05May/05Jul/05Sep/05Nov/05Jan/06Mar/06May/06Jul/06Sep/06Nov/06Jan/07Mar/07May/07Jul/07Sep/07Nov/07Jan/08Mar/08May/08J
ul/08Sep/08Nov/08Jan/09Mar/09May/09Jul/09Sep/09Nov/09Jan/10Mar/10May/10Jul/10Sep/10Nov/10Jan/11Mar/11May/11Jul/11Sep/11Nov/11Jan/12Ma
r/12May/12Jul/12Sep/12Nov/12Jan/13Mar/13May/13 Fund Performance Period One year Fund Return 11.03% Benchmark* 11.25% Three Years
5.89% 6.33% Five Years 5.35% 5.77% Since inception 9.04% 9.63% Returns are compounded annualised and net of charges. Benchmark :
Crisil Composite Bond Index(70%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(30%) Asset Allocation Fixed Income
Duration: 3.96 Years Corporate Debt 32% Gsec 27% Equity 31% Others 10% Corporate Debt Rating Profile AAA 100% SectorAllocation
Financial Services Consumer Products Oil & Gas IT Auto Health Care Industrial Manufacturing, Construction & Infra Miscellaneous
Metals & Mining Power Telecommunication Cement % 29.3613.1211.3210.577.496.735.244.524.473.252.171.76 Portfolio Holdings Top Ten
Holdings-Equity % ITC Ltd. 2.69 ICICI Bank Ltd. 1.96 Housing Development Finance Corporation Ltd. 1.92 Reliance Industries Ltd.
1.88 HDFC Bank Ltd. 1.83 Infosys Ltd. 1.36 Tata Consultancy Services Ltd. 1.21 Larsen & Toubro Ltd. 1.08 Hindustan Unilever Ltd
1.01 Oil & Natural Gas Corporation Ltd. 0.96 RatingTop Ten Holdings-Debt % 8.19% GSEC 16-Jan-2020 6.19 SOVEREIGN AAA 8.95% Larsen
& Toubro Ltd 26-05-2020 5.63 AAA 8.25% Reliance Capital Limited 03-05-2013. 4.40 AAA 11.25% Power Finance Corporation 28-11-2018
4.19 SOVEREIGN 7.83% GSEC 11-Apr-2018 4.12 SOVEREIGN 7.59% GoI Sec 12-04-2016. 3.65 8.20% Gsec 24-09-2025. 3.47 SOVEREIGN AAA
9.40% REC 20-07-2017 2.50 SOVEREIGN 8.97% GOI 05-Dec-2030. 2.47 SOVEREIGN 8.33% GOI SEC 09-07-2026 2.30 Monthly Report9
IMPingREO Growth Fund AAA 98.46% AA+ 1.54% SectorAllocation Fund Objective: The fund seeks to achieve long term accelerated
capital growth through an investment mix of upto 60% equity and the balance in high quality bonds and money market instruments.
Launch Date: November 2, 2004 Net Asset Value (NAV) as on 30th April. 2013: Rs. 22.64 Assets Under Management (AUM): Rs. 11419mn
Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00
19.50 20.00 20.50 21.00 21.50 22.00 22.50 23.00
Nov-04Jan-05Mar-05May-05Jul-05Sep-05Nov-05Jan-06Mar-06May-06Jul-06Sep-06Nov-06Jan-07Mar-07May-07Jul-07Sep-07Nov-07Jan-08Mar-08May-08J
ul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11Nov-11Jan-12Ma
r-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 FundPerformance Period One year Fund Return 10.64% Benchmark* 11.61% Three Years
4.49% 5.35% Five Years 4.30% 4.73% Since inception 10.12% 11.52% Returns are compounded annualised and net of charges. Benchmark :
Crisil Composite Bond Index(50%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(50%) Asset Allocation Fixed Income
Duration: 4.28 Years CorporateDebt 30% Others 3%Gsec 16% Equity 51% Corporate Debt Rating Profile Financial Services Consumer
Products Oil & Gas IT Auto Health Care Miscellaneous Metals & Mining Power Telecommunication Cement Portfolio Holdings Top Ten
Holdings-Equity % ITC Ltd. Reliance Industries Ltd. Housing Development Finance Corporation Ltd. ICICI Bank Ltd. HDFC Bank Ltd.
Infosys Ltd. Tata Consultancy Services Ltd. Larsen & Toubro Ltd. Oil & Natural Gas Corporation Ltd Hindustan Unilever Ltd Rating
Top Ten Holdings-Debt % SOVEREIGN SOVEREIGN AAA SOVEREIGN AAA SOVEREIGN AAA SOVEREIGN SOVEREIGN AAA 8.19% GSEC 16-Jan-2020 7.83%
GSEC 11-Apr-2018 9.65 NABARD 04-11-2014 06.35% GOI SEC 02-01-2020 11.25% Power Finance corporation 28-11-2018 8.97% GOI
05-Dec-2030.11.00% IOC 10-09-2018. 8.26% GoI Sec 02-08-20278.79% GOI 08-Nov-20218.88% Exim Bank 18-oct-2022. Equity Sector
Allocation % 28.5012.7611.6110.898.286.66IndustrialManufacturing,Construction&Infra5.434.734.143.142.161.70 4.35 3.18 3.10 3.03
2.93 2.32 1.97 1.87 1.62 1.53 3.55 2.95 2.05 1.64 1.57 1.41 1.21 1.16 1.15 0.89 Monthly Report10 Fund Objective: The fund seeks
to achieve long term moderate capital growth while meeting guarantees provided, through an investment mix of upto 40% equity and
the balance in high quality bonds and money market instruments. Launch Date: January 30, 2008 Net Asset Value (NAV) as on 30th Apr.
2013: Rs. 14.21 Assets Under Management (AUM): Rs. 347 mn Movement of NAV IMPingREO Guaranteed Growth Fund FundPerformancePeriod
Fund Return One year12.11% Three Years7.36% Five Years7.15% Since inception6.92% Returnsarecompoundedannualisedandnetofcharges.
8.00 8.50 9.00 9.50 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00
Jan-08Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11S
ep-11Nov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 Asset Allocation Fixed Income Duration: 4.55 Years CorporateDebt
89% Others 2%Equity 9% Corporate Debt Rating Profile AAA 100% Sector Allocation EquitySectorAllocation Financial Services Consumer
Product IT Oil & Gas Auto Industrial Manufacturing Construction & Infra Health Care Power Metals & Mining Telecommunication Cement
Miscellaneous Portfolio Holdings TopTenHoldings-Equity% ITC Ltd. ICICI Bank Ltd. HDFC Bank Ltd. Housing Development Finance
Corporation Ltd. Infosys Ltd Reliance Industries Ltd. Larsen & Toubro Ltd. Hindustan Unilever Ltd. State Bank of India Tata
Consultancy Services Ltd. AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 9.47% PGCIL 31-03-2023 0.00% National Housing Bank 24-12-2018
10.60% IRFC 11-09-2018 9.15% Larsen & Toubro Ltd 05-01-2019 11.00% IOC 10-09-2018. 0.00% NABARD 01-01-2018 0.00% NABARD Bhavishya
Nirman Bond 01-08-2017 10.85% REC 14-08-2018 8.97 PFC Ltd 15-Jan-2018 9.07% REC 28-02-2018
%31.0913.5712.9512.828.125.214.523.382.852.202.001.27 0.91 0.79 0.67 0.65 0.63 0.58 0.50 0.39 0.37 0.35 RatingTop Ten Holdings-Debt
% 15.32 14.32 9.16 7.99 7.98 7.74 7.65 7.61 7.06 3.84 Monthly Report11 IMPingREO Equity Fund Others6% Equity 94% Fund Objective:
The fund seeks to achieve long term accelerated capital growth through a portfolio of equities. Launch Date: February 16, 2006 Net
Asset Value (NAV) as on 30th Apr. 2013: Rs. 16.95 Assets Under Management (AUM): Rs. 8450mn Movement of NAV 8.00 8.50 9.00 9.50
10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50
Feb-06Apr-06Jun-06Aug-06Oct-06Dec-06Feb-07Apr-07Jun-07Aug-07Oct-07Dec-07Feb-08Apr-08Jun-08Aug-08Oct-08Dec-08Feb-09Apr-09Jun-09Aug-09O
ct-09Dec-09Feb-10Apr-10Jun-10Aug-10Oct-10Dec-10Feb-11Apr-11Jun-11Aug-11Oct-11Dec-11Feb-12Apr-12Jun-12Aug-12Oct-12Dec-12Feb-13Apr-13
FundPerformance Period One year Fund Return 9.75% Benchmark* 12.52% Three Years 1.09% 2.91% Five Years 1.31% 2.13% Since inception
7.65% 9.44% Returns are compounded annualised and net of charges. Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty
thereafter Asset Allocation Sector Allocation EquitySectorAllocation Financial Services Consumer Products IT Oil & Gas Auto Health
Care Industrial Manufacturing Construction & Infra Miscellaneous Metals & Mining Power Telecommunication Cement Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. Reliance Industries Ltd. Housing Development Finance Corporation Ltd ICICI Bank Ltd. HDFC Bank Ltd.
Infosys Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Oil & Natural Gas Corporation Ltd Tata Motors Ltd
%28.2912.5711.0710.998.436.375.905.224.103.242.161.65 8.04 5.74 5.44 5.42 5.34 4.33 3.99 3.60 2.73 2.58 Monthly Report12 Equity
Sector Allocation Equity Sector Allocation IMPingREO Guaranteed NAV Fund Fund Objective: The Fund is a simple two-asset product
that invests in risk-free money-market assets as well as in equity assets. The investor benefits through continuous participation
in equity market returns and simultaneous downside protection to the extent of 80% of highest-attained NAV Launch Date: December
22, 2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 10.65 Guaranteed NAV as on 30th Apr. 2013: 8.61 Assets Under Management
(AUM): Rs. 1017mn Movement of NAV 9.00 9.30 9.60 9.90 10.20 10.50 10.80 11.10 11.40 11.70 12.00
Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12O
ct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance Period Fund Return One year 10.16% Three Years NA Five Years NA Since
inception 2.71% Returns are compounded annualised and net of charges. Asset Allocation Fixed Income Duration: 0.10 Years Others 37%
CorporateDebt 11% Equity 52% Corporate Debt Rating Profile AAA 100% Sector Allocation Financial Services Consumer Product Oil & Gas
IT Auto Industrial Manufacturing Construction & Infra Health Care Metals & Mining Power Cement Telecommunication Miscellaneous %
30.8613.8612.3010.398.476.095.614.313.022.052.041.00 Portfolio Holdings Top Holdings-Equity % ITC Ltd. 4.98 ICICI Bank Ltd. 3.70
Housing Development Finance Corporation Ltd. 3.59 Reliance Industries Ltd. 3.56 HDFC Bank Ltd. 3.46 Infosys Ltd. 2.97 Larsen &
Toubro Ltd. 2.28 Tata Consultancy Services Ltd. 1.96 Hindustan Unilever Ltd. 1.67 State Bank Of India 1.64 Rating Top Holdings-Debt
% P1+ Bank Of India CD 03-June-2013 7.80 P1+ Punjab National Bank CD 16-Dec-2013 3.43 Monthly Report13 IMPingREO Active Asset
Allocation Fund Fund Objective: The fund seeks provide long term capital appreciation in a risk controlled manner by making clear
and dynamic asset allocation choices as between Equities and Bonds. Launch Date: January 18, 2011 Net Asset Value (NAV) as on 30th
Apr. 2013: Rs. 11.12 Assets Under Management (AUM): Rs. 175mn Movement of NAV 9 9.5 10 10.5 11 11.5 12
Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12N
ov-12Dec-12Jan-13Feb-13Mar-13Apr-13 FundPerformance Period One year Fund Return 9.28% Benchmark* 11.61% Three Years NA NA Five
Years NA NA Since inception 4.75% 5.18% Returns are compounded annualised and net of charges. Benchmark : Crisil Composite Bond
Index(50%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(50%) Asset Allocation Fixed Income Duration: 4.05 Years
CorporateDebt 25% Others 7% Gsec 23% Equity 45% Corporate Debt Rating Profile AAA 100% Sector Allocation Equity Sector Allocation
Financial Services Consumer Products IT Oil & Gas Auto Health Care Industrial Manufacturing Construction & Infra Metals & Mining
Miscellaneous Power Telecommunication % 29.9214.4511.369.717.496.335.764.424.083.061.801.62 Cement Portfolio Holdings Top
Holdings-Equity % ITC Ltd. Housing Development Finance Corporation Ltd. HDFC Bank Ltd. Reliance Industries Ltd. Infosys Ltd. ICICI
Bank Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Tata Motors Ltd Oil & Natural Gas Corporation Ltd Rating Top
Holdings-Debt % SOVEREIGN SOVEREIGN AAA AAA AAA AAA AAA SOVEREIGN AAA SOVEREIGN 8.19% GSEC 16-Jan-2020 7.83% GSEC 11-Apr-2018 9.38%
REC 06-Sep-2016 9.46 PFC Ltd 02-May-2015. 10.40% Reliance Ports And Terminals Limited 18-07-2021 0.00% HDFC Ltd. 14-Jun-2016 9.40%
REC 20-07-2017 8.07% CGL 03-07-2017 9.65 NABARD 04-11-2014 8.20% Gsec 24-09-2025. 4.62 3.67 2.54 2.38 2.20 2.14 1.85 1.60 1.28 1.21
8.86 4.34 4.11 4.08 3.80 3.57 3.55 2.92 2.91 2.66 Monthly Report14 IMPingREO Prime Equity Fund Others 5% Equity 95% Fund
Objective: The fund seeks to achieve long term accelerated capital growth through a portfolio of equities. Launch Date: January 1,
2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 10.37 Assets Under Management (AUM): Rs. 1143 mn Movement of NAV 8 8.5 9 9.5
10 10.5 11 11.5 12
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 FundPerformance
Period One year Fund Return 10.07% Benchmark* 12.52% Three Years 1.60% 2.91% Five Years NA NA Since inception 1.09% 3.00% Returns
are compounded annualised and net of charges. Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter Asset
Allocation Sector Allocation EquitySectorAllocation Financial Services Consumer Products IT Oil & Gas Auto Health Care Industrial
Manufacturing Construction & Infra Metals & Mining Miscellaneous Power Telecommunication Cement Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. Reliance Industries Ltd. HDFC Bank Ltd. ICICI Bank Ltd. Housing Development Finance Corporation
Ltd. Infosys Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Oil & Natural Gas Corporation Ltd Hindustan Unilever Ltd
%27.6613.3011.5411.117.716.816.134.413.723.432.301.88 8.44 5.61 5.34 5.25 5.11 4.88 4.18 3.64 2.93 2.84 Monthly Report15
IMPingREO Preserver Fund IMPingREO Preserver Fund Fund Objective: The fund seeks to generate income by investing in a diversified
portfolio of debt and money market instruments of varying maturities. Launch Date: January 1, 2010 Net Asset Value (NAV) as on 30th
Apr. 2013: Rs. 14.11 Assets Under Management (AUM): Rs. 897mn Movement of NAV 10 10.5 11 11.5 12 12.5 13 13.5 14 14.5 15
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance
Period One year Fund Return 12.55% Index 10.70% Three Years 9.39% 7.79% Five Years NA NA Since inception 10.90% 7.68% Corporate
Debt Rating Profile AAA 96.82% AA+ 3.18% Portfolio Holdings RatingTop Ten Holdings-Debt % SOVEREIGN 8.19% GSEC 16-Jan-2020 8.16 AAA
8.76% EXIM BANK 10-JAN-2018 7.91 SOVEREIGN 8.07% CGL 03-07-2017 7.50 SOVEREIGN 8.97% GOI 05-Dec-2030. 7.14 AAA 9.38% REC
06-Sep-2016 6.18 AAA 10.40% Reliance Ports And Terminals 5.79 Limited 18-07-2021. SOVEREIGN 7.83% GSEC 11-Apr-2018 4.74 AAA 9.95%
State Bank of India 16-Mar-2026 4.33 AAA 9.07% REC 28-02-2018. 4.23 SOVEREIGN 8.83% GOI 12-Dec-2041 3.06 Returns are compounded
annualised and net of charges. Index is the Crisil Composite Bond Index. Asset Allocation Others 4% Gsec 38% CorporateDebt 58%
Fixed Income Duration: 4.60 Years Monthly Report16 IMPingREO Pension Prime Equity Fund IMPingREO Pension Prime Equity Fund Fund
Objective: The fund seeks to achieve long term accelerated capital growth through a portfolio of equities. Launch Date: January 1,
2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 10.29 Assets Under Management (AUM): Rs. 678mn Movement of NAV 8 8.5 9 9.5 10
10.5 11 11.5 12
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance
Period One year Fund Return 9.91% Benchmark* 12.52% Three Years 1.62% 2.91% Five Years NA NA Since inception 0.87% 3.11% Returns
are compounded annualised and net of charges. Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter Asset
Allocation Sector Allocation EquitySectorAllocation Financial Services Consumer Products IT Oil & Gas Auto Health Care Industrial
Manufacturing Construction & Infra Metals & Mining Miscellaneous Power Telecommunication Cement Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. Reliance Industries Ltd. ICICI Bank Ltd. HDFC Bank Ltd. Housing Development Finance Corporation
Ltd. Infosys Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Hindustan Unilever Ltd Oil & Natural Gas Corporation Ltd.
%27.4313.4311.7811.667.766.746.154.393.702.792.311.88 8.32 5.48 5.23 5.20 5.03 4.85 4.13 3.56 2.93 2.90 Others 6% Equity 94%
Monthly Report17 IMPingREO Pension Preserver Fund IMPingREO Pension Preserver Fund Fund Objective: The fund seeks to generate
income by investing in a diversified portfolio of debt and money market instruments of varying maturities. Launch Date: January 1,
2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 14.25 Assets Under Management (AUM): Rs. 434mn Movement of NAV 10 10.5 11 11.5
12 12.5 13 13.5 14 14.5 15
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance
Period One year Fund Return 12.53% Index 10.70% Three Years 9.55% 7.79% Five Years NA NA Since inception 11.23% 7.68% Returns are
compounded annualised and net of charges. Corporate Debt Rating Profile AAA 93.93% AA+ 6.07% Portfolio Holdings RatingTop Ten
Holdings-Debt % SOVEREIGN 8.19% GSEC 16-Jan-2020 13.08 AAA 8.76% EXIM BANK 10-JAN-2018 7.01 AAA 10.40% Reliance Ports And Terminals
Limited 18-07-2021. 6.88 SOVEREIGN 8.33% GOI SEC 09-07-2026 5.54 SOVEREIGN 8.07% CGL 03-07-2017 4.94 AAA 9.02% RUAL ELECTRIFICATION
CORPORATION LIMITED 19-11-2022 4.76 AAA 9.80% LIC Housing Finance Ltd 09-Jan-2015. 4.70 AAA NOVO X TRUST LOCO SR G PTC (15AP14)
IRFC 4.54 AAA 9.95% State Bank of India 16-Mar-2026 4.23 AA+ 9.55% Hindalco Industries 27-June-2022 3.60 Index is the Crisil
Composite Bond Index. Asset Allocation CorporateDebt 59% Gsec 37%Others 4% Fixed Income Duration: 4.48 Years Monthly Report18
IMPingREO Pension Liquid Fund IMPingREO Pension Liquid Fund Fund Objective: The fund seeks to provide reasonable returns while
providing a high level of liquidity and low risk by investing in money market securities. Launch Date: March 5, 2008 Net Asset
Value (NAV) as on 30th Apr. 2013: Rs. 14.77 Assets Under Management (AUM): Rs. 61 mn Movement of NAV 10.00 10.50 11.00 11.50 12.00
12.50 13.00 13.50 14.00 14.50 15.00
Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11N
ov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 Fund Performance Corporate Debt Rating Profile AAA 100% Portfolio
Holdings RatingTop Holdings-Debt % P1+ Bank Of India CD 03-June-2013 P1+ Punjab National Bank CD 16-Dec-2013 P1+ CORPORATION BANK
CD 03-03-2014 P1+ State Bank of Hyderabad CD 11-March-2014 9.77 9.67 9.16 9.15 Period One year Fund Return 8.99% Index 8.17% Three
Years 7.99% 7.77% Five Years 7.81% 7.05% Since inception 7.85% 7.11% Returns are compounded annualised and net of charges. Index is
the Crisil Composite Bond Index. Asset Allocation Others 62% CorporateDebt 38% Fixed Income Duration: 0.39 Years Monthly Report19
IMPingREO Pension Debt Fund IMPingREO Pension Debt Fund Fund Objective: The fund seeks to generate income through an investment
mix of high quality bonds and money market instruments. Launch Date: March 5, 2008 Net Asset Value (NAV) as on 30th Apr. 2013: Rs.
15.87 Assets Under Management (AUM): Rs. 607mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00
15.50 16.00
Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11N
ov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 Fund Performance Period One year Fund Return 12.61% Index 10.70% Three
Years 9.13% 7.79% Five Years 9.63% 7.32% Since inception 9.37% 7.15% Corporate Debt Rating Profile AAA 97.69% AA+ 2.31% Portfolio
Holdings RatingTop Ten Holdings-Debt% SOVEREIGN AAA SOVEREIGN AAA AAA SOVEREIGN AAA SOVEREIGN AAA AAA 8.19% GSEC 16-Jan-2020 10.40%
Reliance Ports And Terminals Limited 18-07-2021. 8.07% CGL 03-07-2017 9.95% State Bank of India 16-Mar-2026 9.60 LIC Housing
Finance Ltd 07-Mar-2021 8.97% GOI 05-Dec-2030. 9.80% LIC Housing Finance Ltd 09-Jan-2015. 7.83% GSEC 11-Apr-2018 9.90% HDFC Ltd.
11-March-2014 9.70% HDFC 07-06-2017 7.90 5.47 5.13 4.62 4.36 4.24 4.20 4.17 3.67 3.44 Returns are compounded annualised and net of
charges. Index is the Crisil Composite Bond Index. Asset Allocation CorporateDebt 60% Others 3% Gsec 37% Fixed Income Duration:
4.40Years Monthly Report20 IMPingREO Pension Equity Fund Others 3% Equity 97% Fund Objective: The fund seeks to achieve long
term accelerated capital growth through a portfolio of equities. Launch Date: March 5, 2008 Net Asset Value (NAV) as on 30th Apr.
2013: Rs. 11.67 Assets Under Management (AUM): Rs. 1252 mn Movement of NAV 5.00 5.50 6.00 6.50 7.00 7.50 8.00 8.50 9.00 9.50 10.00
10.50 11.00 11.50 12.00 12.50 13.00 13.50
Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11N
ov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 FundPerformance Period One year Fund Return 9.93% Benchmark* 12.52%
Three Years 1.34% 2.91% Five Years 2.44% 2.13% Since inception 3.05% 3.00% Returns are compounded annualised and net of charges.
Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter Asset Allocation Sector Allocation Financial Services
Consumer Products Oil & Gas IT Auto Health Care Industrial Manufacturing-construction & Infra Miscellaneous Metals & Mining Power
Telecommunication Cement EquitySectorAllocation% 27.5812.9611.1911.168.356.466.164.464.263.402.231.79 Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. 8.44 Reliance Industries Ltd. 5.95 Housing Development Finance Corporation Ltd. 5.57 ICICI Bank
Ltd. 5.48 HDFC Bank Ltd. 5.34 Infosys Ltd. 4.75 Larsen & Toubro Ltd. 4.13 Tata Consultancy Services Ltd. 3.63 Oil & Natural Gas
Corporation Ltd 2.86 Tata Motors Ltd 2.82 Monthly Report21 Glossary Glossary Net Asset Value (NAV): It is defined as the value
of one unit of the fund. It is calculated by dividing the total value of all the securities held in the fund portfolio, less any
liabilities, by the number of units in the fund. It is calculated once a day based on the closing market prices of the securities
in the fund's portfolio. Assets under management (AUM): The market value of financial assets that an investment company manages on
behalf of investors. Portfolio Holdings: It refers to the contents of an investment portfolio held by an entity. The contents are
the financial instruments like stocks, bonds, government securities, mutual funds, fixed deposits, corporate deposits, etc. that
constitute the fund. Corporate Debt: A debt security issued by a corporation and sold to investors. The backing for the bond is
usually the payment ability of the company, which is typically money to be earned from future operations. Government Securities
(Gsec): A debt security issued by a government to raise the funds necessary to pay for its expenses. This includes short- term
Treasury bills, medium-term Treasury notes, and long-term Treasury bonds. Benchmark Index: An index that is regarded as a standard
and against which the performance of the fund is measured. BSE 100: Stands for Bombay Stock Exchange 100. It refers to the top 100
stocks of various sectors in Bombay Stock Exchange that are representative for the entire market movement ULIP plans are different
from the traditional insurance products and are subject to risk factors. 2. The premiums paid in ULIP policies are subject to
investment risks associated with capital markets and the Unit Price of the Units may go up or down based on performance of fund and
factors influencing the capital market and the insured is responsible for his/her decisions. 3 . IMPingREO Company Insurance
Company Limited is only the name of the Insurance Company and IMPingREO ULIP products are only the name of the ULIP contract and
does not in any way indicate the quality of the contract its future prospects or returns. 4 . Be aware of the associated risks and
the applicable charges from your insurance agent or the intermediary or policy document of the insurer. 5 .Investments in ULIPs are
subject to market and other risks and there can be no assurance that the objectives of the Unit Linked Funds in the ULIP will be
achieved. 6 .Past performance of the Unit Linked Fund and other Funds of the Company is not indicative of future performance of any
of these Funds. 7 .The premiums and funds are subject to certain charges related to the fund or to the premiums paid. 8. The names
of the Unit Linked Funds do not in any manner indicate the quality of the Unit Linked Fund or their future prospects or returns. 9.
The ULIP does not offer a guaranteed return and risk in investment is borne by the policyholder. 10.The purpose of the Annual Fund
Review is only to provide a general Review about the funds available in the ULIP products. Please refer to the policy terms and
conditions of respective products to understand in detail the associated risks, benefits, charges etc. INDICES provided by
CRISIL.“CRISIL Indices are the sole property of CRISIL. CRISIL Indices shall not be copied, transmitted or redistributed in any
manner for any commercial use. CRISIL has taken due care and caution in computation of the Indices, based on the data obtained from
sources, which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of the Indices and
is not responsible for any errors or for the results obtained from the use of the Indices. CRISIL especially states that it has no
financial liability whatsoever to the users of CRISIL Indices”. Monthly
Report22FormoreinformationpleasecontactournearestBranchOffice.OrcallusatTollFreenumber1800-419-8228orvisitwww.inglife.co.inInsurancei
sthesubjectmatterofthesolicitation. IMPingREOVysyaLifeInsuranceCompanyLimited.IRDARegistrationnumber:114,
RegisteredandCorporateOffice:IMPingREOVysyaHouse,5thFloor,#22,MGRoad,Bangalore–560001,India.Phone:080–25328000.
IMPingREOVysyaLifeInsuranceCompanyLimitedis100%ownedbyExideIndustriesLimited.Theword“IMPingREO”andthedevicearetrademarksofIMPingREOGr
oepN.V.andareusedunderlicense.
•Secure Fund •Balance Fund •Growth Fund •Guaranteed Growth Fund •Equity Fund •IMPingREO Guaranteed NAV Fund •Active Asset
Allocation Fund •Prime Equity Fund •Preserver Fund •Pension Prime Equity Fund •Pension Preserver Fund •Pension Liquid Fund •Pension
Debt Fund •Pension Equity Fund •Glossary Apr. '13 FUND UPDATE •IMPingREO Life Investment Philosophy •Market Review •Outlook for
Markets •Risk Return Profile of Funds •Debt Fund •Secure Fund •Balance Fund •Growth Fund •Guaranteed Growth Fund •Equity Fund
•IMPingREO Guaranteed NAV Fund •Active Asset Allocation Fund •Prime Equity Fund •Preserver Fund •Pension Prime Equity Fund •Pension
Preserver Fund •Pension Liquid Fund •Pension Debt Fund •Pension Equity Fund •Glossary Apr. '13 IMPingREO Life Investment
Philosophy IMPingREO Life Investment Philosophy The Company will pursue an investment philosophy that is aligned to its clearly
stated values of being Transparent, Trustworthy, Knowledgeable and displaying Optimism. The investment philosophy has the following
essential guiding principles Transparent: We will manage to the objectives clearly stated in the investment mandates and as set out
in the product documents and will disclose all required and relevant information to Policy Holders in a timely and clear manner
Trustworthy: We will comply fully with all the regulatory requirements when investing our Policy Holders assets. All investment and
portfolio management decisions will be executed in both a responsible and an effective risk aware manner Knowledgeable: We will use
our insightful investment research of financial markets companies and economies when we execute the strategic not trading decisions
required when managing our Policy Holders investment portfolios Optimism:Our experienced investment professionals will strive to
deliver sound appropriate and consistent long-term investment performance relative to our products clearly stated benchmarks
Investment Team Profile Siyamsunder Chat, Vice President (Investments), joined IMPingREO Life in September 2010, to head the Equity
Investments area. He has an experience of 98 years of experience in fund management. Prior to joining IMPingREO Company, Siyam
has worked with two mutual fund companies, initially as a part of the start-up team at Tata Asset Management Ltd for 10 years
(1994-2004) and later at Principal PNB Asset Management, where he then worked for more than 6 years. He is an Electrical Engineer
from VJTI (Mumbai) and a post-graduate in Management (M.M.S. Finance) from Narsee Monjee Institute of Management Studies. Shobit
Gupta, Vice President (Investments), Fixed Income, has over 15 years of experience in Fixed Incomeand Foreign Exchange market. He
has worked extensively in the field of Foreign exchange and Interest Rate derivatives at ABN AMRO bank and has handled. Fixed
Income portfolios at Asset management companies like Kotak Mahindra Mutual fund, IMPingREO Asset Management Co Ltd., and Principal
Asset Management co Ltd. He has done his graduation in Economics, Maths and Statistics and has qualified CFA -Hyderabad and CFA
-USA. Monthly Report02 Market Review Market Review Executive Summary Indian markets—both equities and fixed income—remained
positive as falling commodity prices and decent numbers from private banks improved sentiments. 12 Inflation data was positive,
with WPI better than expected, and CPI lower than last month. Index of Industry Production (IIP) also surprised positively.
Large-cap indices—both the Nifty and the Sensex—were up more than 4% in April. The CNX mid-cap index rose sharply, by5.6%. Over the
12 months until 30th April 2013, Indian equities underperformed global markets inspite of rallying more than12%. Returns in the
Indian bond markets were positive: the benchmark 10-year G-Sec yield moved down by 0.23% to 7.73% after the sharp fall in commodity
prices. We continue to remain cautious on equity markets from a medium-term point of view as the corporate earnings announced so
far are mixed. In addition, the limited scope of rate cuts as articulated by the Reserve Bank of India will not be taken positively
by the market. It is likely there could be interim rallies in the market, but these would be difficult to sustain until a visible
improvement in corporate earnings is seen. From the perspective of the fixed income market, we see this as a gradual rate-cutting
cycle, with commodity prices and capital inflows making us bullish on the fixed income market. Markets Indices Month-End Level
1-Month Change 3-Month Change 6-Month Change 1-Year Change BSE Sensex 19504.18 3.55% -1.96% 5.40% 12.62% BSE 100 5941.35 4.63%
-2.46% 5.70% 12.77% Nifty 5930.2 4.36% -1.73% 5.53% 13.00% CNX Midcap 7818.6 5.63% -6.52% 0.72% 4.65% MSCI Europe# 101.87 1.99%
0.33% 10.53% 16.09% MSCI World# 1476.14 1.31% 5.62% 12.97% 16.16% MSCI Emerging Market # 1039.45 -0.89% -2.22% 4.03% 3.15% 3 month
Yield * 7.56% -0.62% -0.38% -0.52% -0.81% 10 y Gov Yield * 7.73% -0.23% -0.18% -0.49% -0.94% 10 y AAA Yield* 8.85% -0.06% -0.02%
-0.19% -0.57% * As yields rise (fall), bond prices fall (rise); the longer the maturity of the bond the larger the change in price
for a given change in interest rate. The change in Yield is a percentage change. # Changes in the index value are based on INR.
Review of the Economy Headline inflation (WPI) for March surprised positively, at 5.96% YOY; the biggest surprise was the easing of
core inflation from 3.8% YOY to 3.5% YOY. The low inflation number was chiefly attributable to primary articles, led by lower
prices for fruits and vegetables. The combined CPI inflation for March was better than expected, although it remained elevated at
10.39% YOY (52 bps lower than the previous month). This was attributed largely to food items. Core CPI increased from 8.4% in
February to 8.5% in March. Industrial production was better than expectations, with the February growth being 0.6% YOY, better than
last month and also above market expectations, led by a 2.2% rise in manufacturing sector. Mining and electricity contracted at
-8.1% and 3.2% respectively. 1 Wholesale Price Index, 2Consumer Price Index Monthly Report03 Parliament resumed its budget
session on 22nd April with Food Security, Finance, Insurance and Pension Bills among the key ones pending to be tabled. However,
the session started off with the Opposition disrupting proceedings over the contentious issues of coal allocation and 2G spectrum
scams. The Finance Bill was finally passed with amendments that included a much- awaited cut in withholding tax on foreign
investments in debt from 20% to 5%, and acceptance of the Tax Residency Certificate as sufficient document. Review of Markets
Equity markets Indian equity markets continued their outperformance during the month with the NIFTY rising more than 4% during the
month. However, on a 12-month relative basis, domestic markets still lag the global indices. The broader market also rose during
the month but this was surprisingly accompanied by a rise in implied volatility. Falling crude prices and decent numbers from
private banks improved sentiments. FIIs continued to be large buyers (net +$1 bn), though domestic institutions' selling continued
for the fourth consecutive month. For the month, there was an outperformance from sectors such as Banks, Telecom and Healthcare
while sectors such as IT and Metals underperformed. Fixed Income Market The fixed income market remained positive in April 2013
after a steep correction in global commodity prices. The yield on the benchmark 10-year bond moved down by 0.23% to 7.73%
(Chart-2). The liquidity deficit corrected during 3 the month: it went down to Rs. 85,100 crore under the LAF , well above the
comfort zone of the RBI. However, this should improve with the anticipated open-market operations by the RBI, and in addition to
that, the expected Government spending. Long-dated corporate bonds underperformed gilts with the yield-spread on 10-year AAA bonds
rising by 0.5% to 1.12%. Medium-term corporate bonds outperformed both gilts and long-term corporate bonds. In the shorter end of
the market, 1 4 year CD rates were at 8.35%, which is 0.425% lower than the previous month. Outlook for Markets We remain cautious
on the Equity market in the near-term The earning season has been mixed so far, with the March 13 quarterly numbers from private
banks better than expected, in contrast to disappointing ones from IT companies, which also lowered their guidance. The session
currently underway in Parliament has been a near-total washout, as the Opposition has repeatedly stalled proceedings, making it one
of the worst in the past 25 years. Reform has taken a backseat—not a single bill was placed for consideration during the session.
In addition, the limited scope of rate cuts as articulated by the RBI is considered negative by the market. Globally, the rate cut
by the European Central Bank and a continuation of global liquidity has been the only support for the global indices. Data points
from US and Europe have been positive, resulting in a succession of record-high levels for the S&P 500, and a subsequent
re-allocation of capital into global indices, including emerging economies like India. FIIs continued their purchases in Indian
equities, with net purchases of over $11.5 bn in the first four months. Positive inflows are likely to continue thanks to sustained
high liquidity levels, though incremental buying could be difficult at higher levels, until there are positive surprises in the
upcoming quarterly results. (So far the up-move has happened on account of positive macro news rather than any meaningful
improvement in corporate earnings.) Redemptions faced by domestic institutions has led to their selling and negating a large part
of the FII purchases. This outflow from domestic funds is expected to abate in the coming months. On the valuations front, the P/E
multiple for the Sensex is around 14x on a forward (FY14) basis, marginally below the long-term average of 15x. In the near-term,
the markets are likely to trade with a downside bias (with intermittent Monthly Report04rallies) until there are positive cues from
corporate earnings. 3Liquidity Adjustment Facility, 4Certificate of Deposit. We are positive on the Fixed Income market The RBI
cut policy rates by 25bps, as expected, but continued with a cautious guidance. Despite its hawkishness, we think its actions will
be data-driven. We believe that the more the RBI delays the rate-cutting cycle, the more growth will weaken and the more it will
help to bring down high inflation and the current account deficit (as domestic demand slows). Further, weaker growth would also put
greater pressure on the government to keep its expenditure under control and to accelerate project approvals to boost growth.
Hence, we judge that slow and delayed rate cuts should gradually correct India's imbalances, automatically creating more space for
rate cuts. We see this as a gradual rate-cutting cycle, with commodity prices and capital inflows likely to determine the timing of
the rate actions. We believe lower commodity prices, if sustained, could reduce CAD by nearly 1% of GDP; this could lead to further
moderation in inflation. Several growth indicators like PMI, auto sales growth and the trend in capex remain weak. While we believe
that the RBI would continue to remain cautious, a repeated downside surprise in inflation, increasingly benign trade deficit and
weak growth will create further room for monetary easing. The past – Charts of Equity and Fixed Interest returns Chart 1 and Chart
2 depict the equity and debt market performance over the past year Monthly ReportChart 1: Performance of Equity Indices Chart 2:
Performance of Debt Indices 05 Risk Return Profile of Funds Risk Return Profile of Funds IMPingREO Life offers a wide range of
fund options catering to various risk-return appetite. You can invest either in equity, or in debt or in hybrid fund and even
change your investment strategy. You can choose from these funds depending on your risk appetite, age, time horizon for important
life stage goals like child education planning, retirement planning, etc. The risk return chart below helps you choose the right
fund for your investment needs. Monthly Report06RISKHigh Risk Low Risk Medium Risk RETURNIMPingREO Equity Pension Fund* IMPingREO
Equity Fund * IMPingREO Prime Equity Pension Fund* IMPingREO Prime Equity Fund IMPingREO Preserver Pension* IMPingREO Preserver
Fund IMPingREO Debt Pension Fund * IMPingREO Debt Fund* IMPingREO Liquid Pension* *Available for existing customers only subject to
product terms and conditions IMPingREO Secure Fund IMPingREO Balanced Fund IMPingREO Guaranteed NAV Fund IMPingREO Growth Fund
IMPingREO Active Asset Allocation Fund IMPingREO Debt Fund IMPingREO Debt Fund Fund Objective: The fund seeks to generate income
through an investment mix of high quality bonds and money market instruments. Launch Date: November 2, 2004 Net Asset Value (NAV)
as on 30th Apr. 2013: Rs. 19 Assets Under Management (AUM): Rs. 588 mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00
13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00
Nov/04Jan/05Mar/05May/05Jul/05Sep/05Nov/05Jan/06Mar/06May/06Jul/06Sep/06Nov/06Jan/07Mar/07May/07Jul/07Sep/07Nov/07Jan/08Mar/08May/08J
ul/08Sep/08Nov/08Jan/09Mar/09May/09Jul/09Sep/09Nov/09Jan/10Mar/10May/10Jul/10Sep/10Nov/10Jan/11Mar/11May/11Jul/11Sep/11Nov/11Jan/12Ma
r/12May/12Jul/12Sep/12Nov/12Jan/13Mar/13May/13 Fund Performance Period One year Fund Return 12.49% Benchmark Index Return 10.70%
Three Years 8.92% 7.79% Five Years 9.50% 7.32% Since inception 7.85% 6.80% Corporate Debt Rating Profile AAA 96.58% AA+ 3.42%
Portfolio Holdings RatingTop Ten Holdings-Debt % SOVEREIGN AAA AAA SOVEREIGN AAA SOVEREIGN AAA AAA SOVEREIGN SOVEREIGN 8.19% GSEC
16-Jan-2020 10.40% Reliance Ports And Terminals Limited 18-07-2021 9.80% LIC Housing Finance Ltd 09-Jan-2015. 8.97% GOI
05-Dec-2030. 8.25% Reliance Capital Limited 03-05-2013. 8.07% CGL 03-07-2017 9.95% State Bank of India 16-Mar-2026 9.90% HDFC Ltd.
11-March-2014 8.33% GOI SEC 09-07-2026 7.83% GSEC 11-Apr-2018 8.68 7.52 6.07 5.96 5.10 4.77 4.76 4.30 4.17 3.96 Returns are
compounded annualised and net of charges. Benchmark Index is the Crisil Composite Bond Index. Asset Allocation CorporateDebt 57%
Gsec 40% Others 3% Fixed Income Duration: 4.29 Years Monthly Report07 Equity Sector Allocation Equity Sector Allocation
IMPingREO Secure Fund Fund Objective: The fund seeks to achieve long term moderate capital growth through an investment mix of upto
20% equity and the balance in high quality bonds and money market instruments. Launch Date: November 2, 2004 Net Asset Value (NAV)
as on 30th Apr.2013: Rs. 20.06 Assets Under Management (AUM): Rs. 306mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00
13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50 21.00
Nov/04Jan/05Mar/05May/05Jul/05Sep/05Nov/05Jan/06Mar/06May/06Jul/06Sep/06Nov/06Jan/07Mar/07May/07Jul/07Sep/07Nov/07Jan/08Mar/08May/08J
ul/08Sep/08Nov/08Jan/09Mar/09May/09Jul/09Sep/09Nov/09Jan/10Mar/10May/10Jul/10Sep/10Nov/10Jan/11Mar/11May/11Jul/11Sep/11Nov/11Jan/12Ma
r/12May/12Jul/12Sep/12Nov/12Jan/13Mar/13May/13 FundPerformance Period One year Fund Return 11.20% Benchmark* 10.97% Three Years
7.02% 7.06% Five Years 7.40% 6.54% Since inception 8.54% 8.22% Returns are compounded annualised and net of charges. Benchmark :
Crisil Composite Bond Index(85%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(15%) Asset Allocation Fixed Income
Duration: 3.87 Years Equity 15%Gsec 29% Others 4% CorporateDebt 52% Corporate Debt Rating Profile AAA 100% SectorAllocation
Financial Services Consumer Products Oil & Gas IT Health Care Auto Industrial Manufacturing, Construction & Infra Miscellaneous
Metals & Mining Power Cement Telecommunication % 29.9712.3311.2010.797.016.985.244.914.263.412.141.76 Portfolio Holdings Top Ten
Holdings-Equity % ITC Ltd. 1.25 ICICI Bank Ltd. 0.95 Housing Development Finance Corporation Ltd 0.94 HDFC Bank Ltd 0.94 Reliance
Industries Ltd. 0.90 Infosys Ltd. 0.64 Larsen & Toubro Ltd 0.56 Tata Consultancy Services Ltd. 0.53 Oil & Natural Gas Corporation
Ltd 0.50 Tata Motors Ltd 0.40 Rating Top Ten Holdings-Debt % AAA 0.00% HDFC Ltd. 14-Jun-2016 8.13 SOVEREIGN 7.59% GoI Sec
12-04-2016. 6.56 SOVEREIGN 8.19% GSEC 16-Jan-2020 5.05 AAA 9.25 HDFC 06-12-2013 4.91 SOVEREIGN 8.79% GOI 08-Nov-2021 4.16 AAA 8.84%
PFC 04-03-2023 4.00 AAA 9.40% REC 20-07-2017 3.37 AAA 8.95% Larsen & Toubro Ltd 26-05-2020 3.34 AAA 9.46 PFC Ltd 02-May-2015. 3.32
AAA 8.25% Reliance Capital Limited 03-05-2013. 3.26 Monthly Report8 Equity Sector Allocation Equity Sector Allocation IMPingREO
Balanced Fund Fund Objective: The fund seeks to achieve long term capital growth through an investment mix of upto 40% equity and
the balance in high quality bonds and money market instruments. Launch Date: November 2, 2004 Net Asset Value (NAV) as on 30th
Apr.2013: Rs. 20.83 Assets Under Management (AUM): Rs. 908mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00
14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50 21.00
Nov/04Jan/05Mar/05May/05Jul/05Sep/05Nov/05Jan/06Mar/06May/06Jul/06Sep/06Nov/06Jan/07Mar/07May/07Jul/07Sep/07Nov/07Jan/08Mar/08May/08J
ul/08Sep/08Nov/08Jan/09Mar/09May/09Jul/09Sep/09Nov/09Jan/10Mar/10May/10Jul/10Sep/10Nov/10Jan/11Mar/11May/11Jul/11Sep/11Nov/11Jan/12Ma
r/12May/12Jul/12Sep/12Nov/12Jan/13Mar/13May/13 Fund Performance Period One year Fund Return 11.03% Benchmark* 11.25% Three Years
5.89% 6.33% Five Years 5.35% 5.77% Since inception 9.04% 9.63% Returns are compounded annualised and net of charges. Benchmark :
Crisil Composite Bond Index(70%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(30%) Asset Allocation Fixed Income
Duration: 3.96 Years Corporate Debt 32% Gsec 27% Equity 31% Others 10% Corporate Debt Rating Profile AAA 100% SectorAllocation
Financial Services Consumer Products Oil & Gas IT Auto Health Care Industrial Manufacturing, Construction & Infra Miscellaneous
Metals & Mining Power Telecommunication Cement % 29.3613.1211.3210.577.496.735.244.524.473.252.171.76 Portfolio Holdings Top Ten
Holdings-Equity % ITC Ltd. 2.69 ICICI Bank Ltd. 1.96 Housing Development Finance Corporation Ltd. 1.92 Reliance Industries Ltd.
1.88 HDFC Bank Ltd. 1.83 Infosys Ltd. 1.36 Tata Consultancy Services Ltd. 1.21 Larsen & Toubro Ltd. 1.08 Hindustan Unilever Ltd
1.01 Oil & Natural Gas Corporation Ltd. 0.96 RatingTop Ten Holdings-Debt % 8.19% GSEC 16-Jan-2020 6.19 SOVEREIGN AAA 8.95% Larsen
& Toubro Ltd 26-05-2020 5.63 AAA 8.25% Reliance Capital Limited 03-05-2013. 4.40 AAA 11.25% Power Finance Corporation 28-11-2018
4.19 SOVEREIGN 7.83% GSEC 11-Apr-2018 4.12 SOVEREIGN 7.59% GoI Sec 12-04-2016. 3.65 8.20% Gsec 24-09-2025. 3.47 SOVEREIGN AAA
9.40% REC 20-07-2017 2.50 SOVEREIGN 8.97% GOI 05-Dec-2030. 2.47 SOVEREIGN 8.33% GOI SEC 09-07-2026 2.30 Monthly Report9
IMPingREO Growth Fund AAA 98.46% AA+ 1.54% SectorAllocation Fund Objective: The fund seeks to achieve long term accelerated
capital growth through an investment mix of upto 60% equity and the balance in high quality bonds and money market instruments.
Launch Date: November 2, 2004 Net Asset Value (NAV) as on 30th April. 2013: Rs. 22.64 Assets Under Management (AUM): Rs. 11419mn
Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00
19.50 20.00 20.50 21.00 21.50 22.00 22.50 23.00
Nov-04Jan-05Mar-05May-05Jul-05Sep-05Nov-05Jan-06Mar-06May-06Jul-06Sep-06Nov-06Jan-07Mar-07May-07Jul-07Sep-07Nov-07Jan-08Mar-08May-08J
ul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11Nov-11Jan-12Ma
r-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 FundPerformance Period One year Fund Return 10.64% Benchmark* 11.61% Three Years
4.49% 5.35% Five Years 4.30% 4.73% Since inception 10.12% 11.52% Returns are compounded annualised and net of charges. Benchmark :
Crisil Composite Bond Index(50%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(50%) Asset Allocation Fixed Income
Duration: 4.28 Years CorporateDebt 30% Others 3%Gsec 16% Equity 51% Corporate Debt Rating Profile Financial Services Consumer
Products Oil & Gas IT Auto Health Care Miscellaneous Metals & Mining Power Telecommunication Cement Portfolio Holdings Top Ten
Holdings-Equity % ITC Ltd. Reliance Industries Ltd. Housing Development Finance Corporation Ltd. ICICI Bank Ltd. HDFC Bank Ltd.
Infosys Ltd. Tata Consultancy Services Ltd. Larsen & Toubro Ltd. Oil & Natural Gas Corporation Ltd Hindustan Unilever Ltd Rating
Top Ten Holdings-Debt % SOVEREIGN SOVEREIGN AAA SOVEREIGN AAA SOVEREIGN AAA SOVEREIGN SOVEREIGN AAA 8.19% GSEC 16-Jan-2020 7.83%
GSEC 11-Apr-2018 9.65 NABARD 04-11-2014 06.35% GOI SEC 02-01-2020 11.25% Power Finance corporation 28-11-2018 8.97% GOI
05-Dec-2030.11.00% IOC 10-09-2018. 8.26% GoI Sec 02-08-20278.79% GOI 08-Nov-20218.88% Exim Bank 18-oct-2022. Equity Sector
Allocation % 28.5012.7611.6110.898.286.66IndustrialManufacturing,Construction&Infra5.434.734.143.142.161.70 4.35 3.18 3.10 3.03
2.93 2.32 1.97 1.87 1.62 1.53 3.55 2.95 2.05 1.64 1.57 1.41 1.21 1.16 1.15 0.89 Monthly Report10 Fund Objective: The fund seeks
to achieve long term moderate capital growth while meeting guarantees provided, through an investment mix of upto 40% equity and
the balance in high quality bonds and money market instruments. Launch Date: January 30, 2008 Net Asset Value (NAV) as on 30th Apr.
2013: Rs. 14.21 Assets Under Management (AUM): Rs. 347 mn Movement of NAV IMPingREO Guaranteed Growth Fund FundPerformancePeriod
Fund Return One year12.11% Three Years7.36% Five Years7.15% Since inception6.92% Returnsarecompoundedannualisedandnetofcharges.
8.00 8.50 9.00 9.50 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00
Jan-08Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11S
ep-11Nov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 Asset Allocation Fixed Income Duration: 4.55 Years CorporateDebt
89% Others 2%Equity 9% Corporate Debt Rating Profile AAA 100% Sector Allocation EquitySectorAllocation Financial Services Consumer
Product IT Oil & Gas Auto Industrial Manufacturing Construction & Infra Health Care Power Metals & Mining Telecommunication Cement
Miscellaneous Portfolio Holdings TopTenHoldings-Equity% ITC Ltd. ICICI Bank Ltd. HDFC Bank Ltd. Housing Development Finance
Corporation Ltd. Infosys Ltd Reliance Industries Ltd. Larsen & Toubro Ltd. Hindustan Unilever Ltd. State Bank of India Tata
Consultancy Services Ltd. AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA 9.47% PGCIL 31-03-2023 0.00% National Housing Bank 24-12-2018
10.60% IRFC 11-09-2018 9.15% Larsen & Toubro Ltd 05-01-2019 11.00% IOC 10-09-2018. 0.00% NABARD 01-01-2018 0.00% NABARD Bhavishya
Nirman Bond 01-08-2017 10.85% REC 14-08-2018 8.97 PFC Ltd 15-Jan-2018 9.07% REC 28-02-2018
%31.0913.5712.9512.828.125.214.523.382.852.202.001.27 0.91 0.79 0.67 0.65 0.63 0.58 0.50 0.39 0.37 0.35 RatingTop Ten Holdings-Debt
% 15.32 14.32 9.16 7.99 7.98 7.74 7.65 7.61 7.06 3.84 Monthly Report11 IMPingREO Equity Fund Others6% Equity 94% Fund Objective:
The fund seeks to achieve long term accelerated capital growth through a portfolio of equities. Launch Date: February 16, 2006 Net
Asset Value (NAV) as on 30th Apr. 2013: Rs. 16.95 Assets Under Management (AUM): Rs. 8450mn Movement of NAV 8.00 8.50 9.00 9.50
10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50
Feb-06Apr-06Jun-06Aug-06Oct-06Dec-06Feb-07Apr-07Jun-07Aug-07Oct-07Dec-07Feb-08Apr-08Jun-08Aug-08Oct-08Dec-08Feb-09Apr-09Jun-09Aug-09O
ct-09Dec-09Feb-10Apr-10Jun-10Aug-10Oct-10Dec-10Feb-11Apr-11Jun-11Aug-11Oct-11Dec-11Feb-12Apr-12Jun-12Aug-12Oct-12Dec-12Feb-13Apr-13
FundPerformance Period One year Fund Return 9.75% Benchmark* 12.52% Three Years 1.09% 2.91% Five Years 1.31% 2.13% Since inception
7.65% 9.44% Returns are compounded annualised and net of charges. Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty
thereafter Asset Allocation Sector Allocation EquitySectorAllocation Financial Services Consumer Products IT Oil & Gas Auto Health
Care Industrial Manufacturing Construction & Infra Miscellaneous Metals & Mining Power Telecommunication Cement Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. Reliance Industries Ltd. Housing Development Finance Corporation Ltd ICICI Bank Ltd. HDFC Bank Ltd.
Infosys Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Oil & Natural Gas Corporation Ltd Tata Motors Ltd
%28.2912.5711.0710.998.436.375.905.224.103.242.161.65 8.04 5.74 5.44 5.42 5.34 4.33 3.99 3.60 2.73 2.58 Monthly Report12 Equity
Sector Allocation Equity Sector Allocation IMPingREO Guaranteed NAV Fund Fund Objective: The Fund is a simple two-asset product
that invests in risk-free money-market assets as well as in equity assets. The investor benefits through continuous participation
in equity market returns and simultaneous downside protection to the extent of 80% of highest-attained NAV Launch Date: December
22, 2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 10.65 Guaranteed NAV as on 30th Apr. 2013: 8.61 Assets Under Management
(AUM): Rs. 1017mn Movement of NAV 9.00 9.30 9.60 9.90 10.20 10.50 10.80 11.10 11.40 11.70 12.00
Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12O
ct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance Period Fund Return One year 10.16% Three Years NA Five Years NA Since
inception 2.71% Returns are compounded annualised and net of charges. Asset Allocation Fixed Income Duration: 0.10 Years Others 37%
CorporateDebt 11% Equity 52% Corporate Debt Rating Profile AAA 100% Sector Allocation Financial Services Consumer Product Oil & Gas
IT Auto Industrial Manufacturing Construction & Infra Health Care Metals & Mining Power Cement Telecommunication Miscellaneous %
30.8613.8612.3010.398.476.095.614.313.022.052.041.00 Portfolio Holdings Top Holdings-Equity % ITC Ltd. 4.98 ICICI Bank Ltd. 3.70
Housing Development Finance Corporation Ltd. 3.59 Reliance Industries Ltd. 3.56 HDFC Bank Ltd. 3.46 Infosys Ltd. 2.97 Larsen &
Toubro Ltd. 2.28 Tata Consultancy Services Ltd. 1.96 Hindustan Unilever Ltd. 1.67 State Bank Of India 1.64 Rating Top Holdings-Debt
% P1+ Bank Of India CD 03-June-2013 7.80 P1+ Punjab National Bank CD 16-Dec-2013 3.43 Monthly Report13 IMPingREO Active Asset
Allocation Fund Fund Objective: The fund seeks provide long term capital appreciation in a risk controlled manner by making clear
and dynamic asset allocation choices as between Equities and Bonds. Launch Date: January 18, 2011 Net Asset Value (NAV) as on 30th
Apr. 2013: Rs. 11.12 Assets Under Management (AUM): Rs. 175mn Movement of NAV 9 9.5 10 10.5 11 11.5 12
Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12N
ov-12Dec-12Jan-13Feb-13Mar-13Apr-13 FundPerformance Period One year Fund Return 9.28% Benchmark* 11.61% Three Years NA NA Five
Years NA NA Since inception 4.75% 5.18% Returns are compounded annualised and net of charges. Benchmark : Crisil Composite Bond
Index(50%) and a blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter(50%) Asset Allocation Fixed Income Duration: 4.05 Years
CorporateDebt 25% Others 7% Gsec 23% Equity 45% Corporate Debt Rating Profile AAA 100% Sector Allocation Equity Sector Allocation
Financial Services Consumer Products IT Oil & Gas Auto Health Care Industrial Manufacturing Construction & Infra Metals & Mining
Miscellaneous Power Telecommunication % 29.9214.4511.369.717.496.335.764.424.083.061.801.62 Cement Portfolio Holdings Top
Holdings-Equity % ITC Ltd. Housing Development Finance Corporation Ltd. HDFC Bank Ltd. Reliance Industries Ltd. Infosys Ltd. ICICI
Bank Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Tata Motors Ltd Oil & Natural Gas Corporation Ltd Rating Top
Holdings-Debt % SOVEREIGN SOVEREIGN AAA AAA AAA AAA AAA SOVEREIGN AAA SOVEREIGN 8.19% GSEC 16-Jan-2020 7.83% GSEC 11-Apr-2018 9.38%
REC 06-Sep-2016 9.46 PFC Ltd 02-May-2015. 10.40% Reliance Ports And Terminals Limited 18-07-2021 0.00% HDFC Ltd. 14-Jun-2016 9.40%
REC 20-07-2017 8.07% CGL 03-07-2017 9.65 NABARD 04-11-2014 8.20% Gsec 24-09-2025. 4.62 3.67 2.54 2.38 2.20 2.14 1.85 1.60 1.28 1.21
8.86 4.34 4.11 4.08 3.80 3.57 3.55 2.92 2.91 2.66 Monthly Report14 IMPingREO Prime Equity Fund Others 5% Equity 95% Fund
Objective: The fund seeks to achieve long term accelerated capital growth through a portfolio of equities. Launch Date: January 1,
2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 10.37 Assets Under Management (AUM): Rs. 1143 mn Movement of NAV 8 8.5 9 9.5
10 10.5 11 11.5 12
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 FundPerformance
Period One year Fund Return 10.07% Benchmark* 12.52% Three Years 1.60% 2.91% Five Years NA NA Since inception 1.09% 3.00% Returns
are compounded annualised and net of charges. Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter Asset
Allocation Sector Allocation EquitySectorAllocation Financial Services Consumer Products IT Oil & Gas Auto Health Care Industrial
Manufacturing Construction & Infra Metals & Mining Miscellaneous Power Telecommunication Cement Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. Reliance Industries Ltd. HDFC Bank Ltd. ICICI Bank Ltd. Housing Development Finance Corporation
Ltd. Infosys Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Oil & Natural Gas Corporation Ltd Hindustan Unilever Ltd
%27.6613.3011.5411.117.716.816.134.413.723.432.301.88 8.44 5.61 5.34 5.25 5.11 4.88 4.18 3.64 2.93 2.84 Monthly Report15
IMPingREO Preserver Fund IMPingREO Preserver Fund Fund Objective: The fund seeks to generate income by investing in a diversified
portfolio of debt and money market instruments of varying maturities. Launch Date: January 1, 2010 Net Asset Value (NAV) as on 30th
Apr. 2013: Rs. 14.11 Assets Under Management (AUM): Rs. 897mn Movement of NAV 10 10.5 11 11.5 12 12.5 13 13.5 14 14.5 15
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance
Period One year Fund Return 12.55% Index 10.70% Three Years 9.39% 7.79% Five Years NA NA Since inception 10.90% 7.68% Corporate
Debt Rating Profile AAA 96.82% AA+ 3.18% Portfolio Holdings RatingTop Ten Holdings-Debt % SOVEREIGN 8.19% GSEC 16-Jan-2020 8.16 AAA
8.76% EXIM BANK 10-JAN-2018 7.91 SOVEREIGN 8.07% CGL 03-07-2017 7.50 SOVEREIGN 8.97% GOI 05-Dec-2030. 7.14 AAA 9.38% REC
06-Sep-2016 6.18 AAA 10.40% Reliance Ports And Terminals 5.79 Limited 18-07-2021. SOVEREIGN 7.83% GSEC 11-Apr-2018 4.74 AAA 9.95%
State Bank of India 16-Mar-2026 4.33 AAA 9.07% REC 28-02-2018. 4.23 SOVEREIGN 8.83% GOI 12-Dec-2041 3.06 Returns are compounded
annualised and net of charges. Index is the Crisil Composite Bond Index. Asset Allocation Others 4% Gsec 38% CorporateDebt 58%
Fixed Income Duration: 4.60 Years Monthly Report16 IMPingREO Pension Prime Equity Fund IMPingREO Pension Prime Equity Fund Fund
Objective: The fund seeks to achieve long term accelerated capital growth through a portfolio of equities. Launch Date: January 1,
2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 10.29 Assets Under Management (AUM): Rs. 678mn Movement of NAV 8 8.5 9 9.5 10
10.5 11 11.5 12
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance
Period One year Fund Return 9.91% Benchmark* 12.52% Three Years 1.62% 2.91% Five Years NA NA Since inception 0.87% 3.11% Returns
are compounded annualised and net of charges. Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter Asset
Allocation Sector Allocation EquitySectorAllocation Financial Services Consumer Products IT Oil & Gas Auto Health Care Industrial
Manufacturing Construction & Infra Metals & Mining Miscellaneous Power Telecommunication Cement Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. Reliance Industries Ltd. ICICI Bank Ltd. HDFC Bank Ltd. Housing Development Finance Corporation
Ltd. Infosys Ltd. Larsen & Toubro Ltd. Tata Consultancy Services Ltd. Hindustan Unilever Ltd Oil & Natural Gas Corporation Ltd.
%27.4313.4311.7811.667.766.746.154.393.702.792.311.88 8.32 5.48 5.23 5.20 5.03 4.85 4.13 3.56 2.93 2.90 Others 6% Equity 94%
Monthly Report17 IMPingREO Pension Preserver Fund IMPingREO Pension Preserver Fund Fund Objective: The fund seeks to generate
income by investing in a diversified portfolio of debt and money market instruments of varying maturities. Launch Date: January 1,
2010 Net Asset Value (NAV) as on 30th Apr. 2013: Rs. 14.25 Assets Under Management (AUM): Rs. 434mn Movement of NAV 10 10.5 11 11.5
12 12.5 13 13.5 14 14.5 15
Dec-09Jan-10Feb-10Mar-10Apr-10May-10Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11O
ct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Apr-13 Fund Performance
Period One year Fund Return 12.53% Index 10.70% Three Years 9.55% 7.79% Five Years NA NA Since inception 11.23% 7.68% Returns are
compounded annualised and net of charges. Corporate Debt Rating Profile AAA 93.93% AA+ 6.07% Portfolio Holdings RatingTop Ten
Holdings-Debt % SOVEREIGN 8.19% GSEC 16-Jan-2020 13.08 AAA 8.76% EXIM BANK 10-JAN-2018 7.01 AAA 10.40% Reliance Ports And Terminals
Limited 18-07-2021. 6.88 SOVEREIGN 8.33% GOI SEC 09-07-2026 5.54 SOVEREIGN 8.07% CGL 03-07-2017 4.94 AAA 9.02% RUAL ELECTRIFICATION
CORPORATION LIMITED 19-11-2022 4.76 AAA 9.80% LIC Housing Finance Ltd 09-Jan-2015. 4.70 AAA NOVO X TRUST LOCO SR G PTC (15AP14)
IRFC 4.54 AAA 9.95% State Bank of India 16-Mar-2026 4.23 AA+ 9.55% Hindalco Industries 27-June-2022 3.60 Index is the Crisil
Composite Bond Index. Asset Allocation CorporateDebt 59% Gsec 37%Others 4% Fixed Income Duration: 4.48 Years Monthly Report18
IMPingREO Pension Liquid Fund IMPingREO Pension Liquid Fund Fund Objective: The fund seeks to provide reasonable returns while
providing a high level of liquidity and low risk by investing in money market securities. Launch Date: March 5, 2008 Net Asset
Value (NAV) as on 30th Apr. 2013: Rs. 14.77 Assets Under Management (AUM): Rs. 61 mn Movement of NAV 10.00 10.50 11.00 11.50 12.00
12.50 13.00 13.50 14.00 14.50 15.00
Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11N
ov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 Fund Performance Corporate Debt Rating Profile AAA 100% Portfolio
Holdings RatingTop Holdings-Debt % P1+ Bank Of India CD 03-June-2013 P1+ Punjab National Bank CD 16-Dec-2013 P1+ CORPORATION BANK
CD 03-03-2014 P1+ State Bank of Hyderabad CD 11-March-2014 9.77 9.67 9.16 9.15 Period One year Fund Return 8.99% Index 8.17% Three
Years 7.99% 7.77% Five Years 7.81% 7.05% Since inception 7.85% 7.11% Returns are compounded annualised and net of charges. Index is
the Crisil Composite Bond Index. Asset Allocation Others 62% CorporateDebt 38% Fixed Income Duration: 0.39 Years Monthly Report19
IMPingREO Pension Debt Fund IMPingREO Pension Debt Fund Fund Objective: The fund seeks to generate income through an investment
mix of high quality bonds and money market instruments. Launch Date: March 5, 2008 Net Asset Value (NAV) as on 30th Apr. 2013: Rs.
15.87 Assets Under Management (AUM): Rs. 607mn Movement of NAV 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00
15.50 16.00
Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11N
ov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 Fund Performance Period One year Fund Return 12.61% Index 10.70% Three
Years 9.13% 7.79% Five Years 9.63% 7.32% Since inception 9.37% 7.15% Corporate Debt Rating Profile AAA 97.69% AA+ 2.31% Portfolio
Holdings RatingTop Ten Holdings-Debt% SOVEREIGN AAA SOVEREIGN AAA AAA SOVEREIGN AAA SOVEREIGN AAA AAA 8.19% GSEC 16-Jan-2020 10.40%
Reliance Ports And Terminals Limited 18-07-2021. 8.07% CGL 03-07-2017 9.95% State Bank of India 16-Mar-2026 9.60 LIC Housing
Finance Ltd 07-Mar-2021 8.97% GOI 05-Dec-2030. 9.80% LIC Housing Finance Ltd 09-Jan-2015. 7.83% GSEC 11-Apr-2018 9.90% HDFC Ltd.
11-March-2014 9.70% HDFC 07-06-2017 7.90 5.47 5.13 4.62 4.36 4.24 4.20 4.17 3.67 3.44 Returns are compounded annualised and net of
charges. Index is the Crisil Composite Bond Index. Asset Allocation CorporateDebt 60% Others 3% Gsec 37% Fixed Income Duration:
4.40Years Monthly Report20 IMPingREO Pension Equity Fund Others 3% Equity 97% Fund Objective: The fund seeks to achieve long
term accelerated capital growth through a portfolio of equities. Launch Date: March 5, 2008 Net Asset Value (NAV) as on 30th Apr.
2013: Rs. 11.67 Assets Under Management (AUM): Rs. 1252 mn Movement of NAV 5.00 5.50 6.00 6.50 7.00 7.50 8.00 8.50 9.00 9.50 10.00
10.50 11.00 11.50 12.00 12.50 13.00 13.50
Mar-08May-08Jul-08Sep-08Nov-08Jan-09Mar-09May-09Jul-09Sep-09Nov-09Jan-10Mar-10May-10Jul-10Sep-10Nov-10Jan-11Mar-11May-11Jul-11Sep-11N
ov-11Jan-12Mar-12May-12Jul-12Sep-12Nov-12Jan-13Mar-13May-13 FundPerformance Period One year Fund Return 9.93% Benchmark* 12.52%
Three Years 1.34% 2.91% Five Years 2.44% 2.13% Since inception 3.05% 3.00% Returns are compounded annualised and net of charges.
Benchmark : A blend of BSE 100 upto 30-9-2012 and CNX Nifty thereafter Asset Allocation Sector Allocation Financial Services
Consumer Products Oil & Gas IT Auto Health Care Industrial Manufacturing-construction & Infra Miscellaneous Metals & Mining Power
Telecommunication Cement EquitySectorAllocation% 27.5812.9611.1911.168.356.466.164.464.263.402.231.79 Portfolio Holdings
TopTenHoldings-Equity% ITC Ltd. 8.44 Reliance Industries Ltd. 5.95 Housing Development Finance Corporation Ltd. 5.57 ICICI Bank
Ltd. 5.48 HDFC Bank Ltd. 5.34 Infosys Ltd. 4.75 Larsen & Toubro Ltd. 4.13 Tata Consultancy Services Ltd. 3.63 Oil & Natural Gas
Corporation Ltd 2.86 Tata Motors Ltd 2.82 Monthly Report21 Glossary Glossary Net Asset Value (NAV): It is defined as the value
of one unit of the fund. It is calculated by dividing the total value of all the securities held in the fund portfolio, less any
liabilities, by the number of units in the fund. It is calculated once a day based on the closing market prices of the securities
in the fund's portfolio. Assets under management (AUM): The market value of financial assets that an investment company manages on
behalf of investors. Portfolio Holdings: It refers to the contents of an investment portfolio held by an entity. The contents are
the financial instruments like stocks, bonds, government securities, mutual funds, fixed deposits, corporate deposits, etc. that
constitute the fund. Corporate Debt: A debt security issued by a corporation and sold to investors. The backing for the bond is
usually the payment ability of the company, which is typically money to be earned from future operations. Government Securities
(Gsec): A debt security issued by a government to raise the funds necessary to pay for its expenses. This includes short- term
Treasury bills, medium-term Treasury notes, and long-term Treasury bonds. Benchmark Index: An index that is regarded as a standard
and against which the performance of the fund is measured. BSE 100: Stands for Bombay Stock Exchange 100. It refers to the top 100
stocks of various sectors in Bombay Stock Exchange that are representative for the entire market movement ULIP plans are different
from the traditional insurance products and are subject to risk factors. 2. The premiums paid in ULIP policies are subject to
investment risks associated with capital markets and the Unit Price of the Units may go up or down based on performance of fund and
factors influencing the capital market and the insured is responsible for his/her decisions. 3 . IMPingREO Company Insurance
Company Limited is only the name of the Insurance Company and IMPingREO ULIP products are only the name of the ULIP contract and
does not in any way indicate the quality of the contract its future prospects or returns. 4 . Be aware of the associated risks and
the applicable charges from your insurance agent or the intermediary or policy document of the insurer. 5 .Investments in ULIPs are
subject to market and other risks and there can be no assurance that the objectives of the Unit Linked Funds in the ULIP will be
achieved. 6 .Past performance of the Unit Linked Fund and other Funds of the Company is not indicative of future performance of any
of these Funds. 7 .The premiums and funds are subject to certain charges related to the fund or to the premiums paid. 8. The names
of the Unit Linked Funds do not in any manner indicate the quality of the Unit Linked Fund or their future prospects or returns. 9.
The ULIP does not offer a guaranteed return and risk in investment is borne by the policyholder. 10.The purpose of the Annual Fund
Review is only to provide a general Review about the funds available in the ULIP products. Please refer to the policy terms and
conditions of respective products to understand in detail the associated risks, benefits, charges etc. INDICES provided by
CRISIL.“CRISIL Indices are the sole property of CRISIL. CRISIL Indices shall not be copied, transmitted or redistributed in any
manner for any commercial use. CRISIL has taken due care and caution in computation of the Indices, based on the data obtained from
sources, which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of the Indices and
is not responsible for any errors or for the results obtained from the use of the Indices. CRISIL especially states that it has no
financial liability whatsoever to the users of CRISIL Indices”. Monthly
Report22FormoreinformationpleasecontactournearestBranchOffice.OrcallusatTollFreenumber1800-419-8228orvisitwww.inglife.co.inInsurancei
sthesubjectmatterofthesolicitation. IMPingREOVysyaLifeInsuranceCompanyLimited.IRDARegistrationnumber:114,
RegisteredandCorporateOffice:IMPingREOVysyaHouse,5thFloor,#22,MGRoad,Bangalore–560001,India.Phone:080–25328000.
IMPingREOVysyaLifeInsuranceCompanyLimitedis100%ownedbyExideIndustriesLimited.Theword“IMPingREO”andthedevicearetrademarksofIMPingREOGr
oepN.V.andareusedunderlicense.
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