Max Life UL Life Conservative Fund
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Portfolio Overview
The maximum equity exposure allowed in the case of the Max Life Conservative fund is 15%. Government securities can account for minimum 50% and maximum 80% of the scheme’s portfolio. The upper limits of portfolio allocation towards corporate bonds and money market instruments/cash equivalents are 50% and 40% respectively.
Investment Philosophy
The primary investment of the fund are potentially low risk government securities issued by the Government of India/State Governments along with other debt instruments such as corporate bonds and money market papers.
Due to debt-oriented nature of this fund, it offers the benefit of potentially low levels of volatility especially in the short-term that makes it suitable choice for conservative investors.
The scheme maintains a relatively small equity allocation to provide potential long-term capital growth while ensuring capital protection by primarily focusing on high-quality debt investments.
Portfolio Overview
The maximum equity exposure allowed in the case of the Max Life Conservative fund is 15%. Government securities can account for minimum 50% and maximum 80% of the scheme’s portfolio. The upper limits of portfolio allocation towards corporate bonds and money market instruments/cash equivalents are 50% and 40% respectively.
Top 10 Industries in the Fund
Industry Name | % of Fund |
---|---|
CENTRAL & STATE GOVERNMENT | 62.64% |
FINANCIAL AND INSURANCE ACTIVITIES | 19.43% |
INFRASTRUCTURE | 10.61% |
COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES | 1.17% |
MANUFACTURE OF COKE AND REFINED PETROLEUM PRODUCTS | 1.00% |
WATER TRANSPORT | 0.91% |
MANUFACTURE OF MOTOR VEHICLES, TRAILERS AND SEMITRAILERS | 0.75% |
MANUFACTURE OF PHARMACEUTICALS,MEDICINAL CHEMICAL AND BOTANICAL PRODUCTS | 0.62% |
INFORMATION SERVICE ACTIVITIES | 0.49% |
OFFICE ADMINISTRATIVE, OFFICE SUPPORT AND OTHER BUSINESS SUPPORT ACTIVITIES | 0.37% |
OTHER | 2.00% |
Asset Allocation
Asset Type | Actual (%) | Asset-Range |
---|---|---|
Govt. Securities | 59.33% | 50-80% |
Corporate Bonds | 24.82% | 0-50% |
Money Market or Equivalent | 4.53% | 0-40% |
Equities | 11.32% | 0-15% |
Fund Performance vs. Benchmark
Time Horizon* | Fund Returns (%) | Benchmark Returns (%) |
---|---|---|
1 Year | 10.87% | 10.18% |
3 Years | 7.18% | 6.75% |
5 Years | 7.44% | 8.14% |
Since Inception | 8.81% | 8.33% |
Note: Returns more than 1 year are CAGR returns. Above Fund Returns are after deduction of Fund Management Charges (FMC) and as of 31 March, 2024. Past performance does not guarantee future returns
Rating Profile
AAA | 88.99% |
AA+ | 6.33% |
AA | 0.11% |
Below AA | 4.57% |
Modified Duration
Debt Portfolio | 5.7231 |
Money Market Instruments | 0.0055 |
Note: Debt portfolio includes MMI
Top 10 Bonds in the Fund
Security Name | Amount in Crores (₹) |
---|---|
7.80 YES BANK 29 SEP 2027 | 7.36 |
7.87 BAJAJ FINANCE LIMITED 08 FEBRUARY 2034 | 5.15 |
8.09 RURAL ELECTRIFICATION CORPORATION LIMITED 21 MAR 2028 | 5.10 |
8.80% BHARTI TELECOM LIMITED NCD 21 NOVEMBER 2025 | 5.05 |
8.60% BHARTI TELECOM LIMITED NCD 12 DECEMBER 2025 | 5.04 |
7.50 POWERGRID CORPORATION 24 AUGUST 2033 | 3.98 |
7.64 INDIAN RAILWAY FINANCE CORP LTD 28 NOVEMBER 2037 | 3.26 |
6.8 SBI 21 AUG 2035 TIER-2 (CALL DATE 21 AUG 2030) | 2.86 |
7.79 BAJAJ FINANCE LIMITED 20 SEPTEMBER 2033 | 2.58 |
8.85 G.E. SHIPPING 12 APR 2028 | 2.19 |
Top 10 Equity in the Fund
Security Name | Amount in Crores (₹) |
---|---|
RELIANCE INDUSTRIES LIMITED | 2.41 |
ICICI BANK LIMITED | 2.38 |
HOUSING DEVELOPMENT FINANCE CORP BANK | 2.38 |
INFOSYS LIMITED | 1.40 |
INDUSIND BANK LIMITED | 1.07 |
NTPC LIMITED | 1.04 |
SUN PHARMACEUTICAL INDUSTRIES LIMITED | 0.97 |
TATA CONSULTANCY SERVICES LIMITED | 0.96 |
MEDI ASSIST HEALTHCARE SERVICES LTD | 0.88 |
ITC LIMITED | 0.80 |
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