AREA OFFICES April, 2009 PLACE ADDRESS LANDLINE … · alwar : 9950995148 agra : ... shriram...

Investment Managers :

LIC Mutual Fund Asset Management Company Ltd.

MUTUALINTEREST

April, 2009FOR PRIVATE CIRCULATION

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4th Floor, Industrial Assurance Bldg., Opp. Churchgate Station, Mumbai 400 020. Tel. : 22851663 visit us at www.licmutual.com

Statutory DetailsRISK FACTORS

: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Co. Ltd. is the Investment Managerto the Fund. : Mutual Funds and Securities investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund willbe achieved. As with any investment in stocks and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the capitalmarkets. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Crore towards the setting up of theMutual Fund. Past performance of the Sponsor/AMC/Mutual Fund does not indicate the future performance of the schemes of the Mutual Fund. The NAV of units of the scheme may beaffected by changes in general level of interest rates. Please read the offer document carefully before investing.

Investment Manager:

AREA OFFICES

Mobile No. Name of Place Mobile No. Name of Place Mobile No.

PLACE ADDRESS LANDLINE MOBILE

AHMEDABAD

BANGALORE

CHENNAI

ERNAKULAM

HYDERABAD

JAIPUR

KANPUR

MUMBAI

NEW DELHI

RAIPUR

RANCHI

Jeevan Sadan, 3rd Floor, LIC Building, Opp. Capital Commercial Center,Ashram Road, AHMEDABAD - 380006.

No.4, Canara Mutual Building (Opp. Cash Pharmacy), 2nd Floor,Residency Road, BANGALORE-560025.

Jeevan Vikas, 16/98, M.G. Road, KANPUR - 208001.

- LIC Mutual Fund, 4th Floor, Industrial Assurance Bldg.,Opp. Churchgate Station, MUMBAI - 400020.

7th Floor, Jeevan Prakash, 25 K.G. Marg, NEW DELHI - 110001.

Narsaria Tower, 2nd Floor, Opp. Lalpur Police Station, Post Lalpur, 0651-2206372

079-26631989 / 65431989 9375090006 / 9924403147

080-22210180 / 22295598 9845172957 / 9972092957 /9986500721

OCHC Building, Ground Floor, 24-Janpath, Unit-3, BHUBANESHWAR-751001. 0674-2390694 9438132162 /9438081037 /9438526420

15, Anna Salai, Next to V.G.P. Bldg., CHENNAI - 600002. 044-28411984 / 28555883 9382315850 / 9382980073 /

9962526278

11th Floor, Jeevan Prakash, M.G. Road, Ernakulam, Kochi - 682011 0484-2367643 9895036554 / 9745612888 /

9446042945

T 9/10, 3rd floor, Alfran Plaza, Opp. Don Bosco High School, M. G. Road, 0832-2420561 9421151400 / 9890711551

Panaji, Goa-403001.

LICMF AMC Ltd., C/o LIC of India, Jeevan Deep Building, Panbazar, Guwahati -782 001 0361 - 2735323 9435040478 / 9707021706

LIC Mutual Fund, House No. 5-9-57, 4th Floor, Jeevan Jyoti Building, 040-23244445 / 23210572 9392471583 / 9000444850 /Basheerbagh, HYDERABAD - 500029. 9000550850

U.V. Business Centre, 1st Floor, Snehil 9/1-A South Tukoganj, INDORE - 452001. 0731-2520262 / 4069162 9753242050 / 9425870126

327 - A, 3rd floor, Ganpati Plaza, M. I. Road, JAIPUR - 1. 0141-5112620 9460873120 / 9829098323 /9929095005

0512-2360240 / 3244949 9415060134 / 9984006600 /

9838038440 / 9918971258

Ground Floor, Hindustan Building Annexe, 4, Chittaranjan Avenue, 033-22129455 / 65290605 9432128113 / 9433098459 /

KOLKATA - 700072. 9339531895 / 9339002574 /9231407611

LICMF AMC LTD., Room No. 102, 1st Fl., S.C.O. 19, Opp. Stock Exchange 0161 - 2405805 / 2405806 9814703558 / 9888320209Feroze Gandhi Market, Ludhiana - 141 001 9872106060

LICMF AMC Ltd., No. 6, Gr. Floor, Popular Building, K S Rao Road, Managalore - 575 001 0824 - 2411482 9845190466 / 9980950466

022-22885971 / 55719750 9324543832 / 9323181203 /9323180802 / 9892550455 /9930957772 / 9870775600

LIC Mutual Fund, 4th Floor, Industrial Assurance Bldg., 022-22851660 9820002994 / 9967655060 /Opp. Churchgate Station, MUMBAI - 400020. 9371617717 / 9920675088

LIC Mutual Fund, Iind Floor, Indian Mutual Bldg., Mount Road, Sadar, Nagpur - 440 001 0712 - 2542497 9422113800

Shop No.2, Ground Floor, Rajvee Enclave, New Pandit Colony, NASHIK - 422002. 0253-2579507 9922996155 / 9823366379

011-23359190/23314396 9818039607 / 9818039603 /9818030124 / 9999828173 /9818191263 / 9811108744

Ground floor, Jeevan Jyothi Bldg. Exhibition Road, PATNA - 800001. 0612-2501157/6452757 9470610695 / 9431023274

SF-22-23, Millennium Plaza, Near Indian Coffee House, 0771-2236780/4051137 9329731077 / 9329100009/G.E. Road, RAIPUR - 492001 C.G. 9329778201

RANCHI -834001. 9470524099 / 9334768543

BHUBANESHWAR

GOA

GUWAHATI

INDORE

KOLKATA

LUDHIANA

MANGALORE

MUMBAI -

NAGPUR

NASHIK

PATNA

I

II

ALWAR : 9950995148AGRA : 9927888854ALAPUZHA : 9447367160AMRITSAR : 9814299747AJMER : 9829077674AMRAVATI : 9923797207ANANTPUR : 9000444852AURANGABAD : 9422728151BERHAMPORE : 9238504924BELGAUM : 9845205168BELLARY : 9980830179BILASPUR : 9301982280BHILAI : 9301701133BHOPAL : 9302441980BHAGALPUR : 9431609765BOKARO : 9955189443CHANDIGARH : 9316065681COIMBATORE : 9282216891DHANBAD : 9835334495DEHRADUN : 9410702598FARIDABAD : 9871814850GORAKHPUR : 9336833448GULBARGA : 9900144196GAYA : 9334118071

GWALIOR : 9406586454HUBLI : 9880058223HAZARIBAG : 9835197681 /

9199107292JABALPUR : 9407606313JAMMU : 9419213201JAMSHEDPUR : 9234620669JODHPUR : 9829947974KANNUR : 9846113249KARIMNAGAR : 9000444853KOTTAYAM : 9349374220KOZHICODE : 9961036375KOTA : 9829905879KOLHAPUR : 9822851948LUCKNOW : 9450661015 /

9453016072MADURAI : 9994509005MALDA : 9836237434 /

9851955023MEERUT : 9319267811MYSORE : 9986117183MUZAFFARPUR : 9431813155

NELLORE : 9000444854PONDICHERRY : 9443337411PANIPAT : 9996006023PUNE : 9325523480RAJKOT : 9898733233SAMBALPUR : 9937040031SALEM : 9944744424SHIMOGA : 9902007686SURAT : 9978862626

9925027406SILIGURI : 9332114747THANE : 9320180806THIRUVANANTHAPURAM : 9388088066THRISSUR : 9388110220TRICHY : 9842524130UDAIPUR : 9784011432VADODARA : 9327494916VARANASI : 9336501004VISHAKHAPATNAM : 9000444851VIJAYWADA : 9000444856

BUSINESS CENTREName of Place

4th Floor, Industrial Assurance Bldg., Opp. Churchgate Station,Mumbai - 400 020. Tel.: 22851663. www.licmutual.com

15MUTUAL INTERESTMUTUAL INTEREST2

LICMF UNIT LINKED INSURANCE SCHEMEAn Open-ended Insurance linked Tax Saving Scheme

EQUITY PORTFOLIO (as on 31/03/2009)

TOTAL FUND : Rs. 6257.24 Lakh(as on 31/03/2009)

NAV (Rs.) as on 31/03/2009: 7.2488

Last 1 yearLast 3 yearsSince Inception

-24.13%-2.34%10.13%

Benchmark (C BalanceEx) Return (Last 1 year) -22.34%

ANNUALISED RETURNS

(Past Performance may or may not be Sustained in Future)

Holdings Rating Market Value(Rs. in Lakhs)

Equity

TOTAL - EQUITY 2795.46

POWER GRID CORPORATION OF INDIA 409.03

BHARTI TELEVENTURE 375.48

S B I 351.96

N T P C 324.36

INDRAPRASTHA GAS 136.60

BHARAT ELECTRONICS 129.31

L & T 121.08

O N G C 116.96

H D F C BANK 116.14

PUNJAB NATIONAL BANK 98.32

GMR INFRASTRUCTURE 94.90

RELIANCE COMMUNICATION 87.30

G A C L 71.30

DEEPAK FERTILISERS 60.35

B H E L 60.17

RELIANCE POWER LTD 51.25

MERCATOR LINES 49.53

R I L 45.70

JAIPRAKASH ASSOCIATES 25.26

G A I L 24.43

S A I L 24.11

BANK OF BARODA 21.93

DEBT PORTFOLIO (as on 31/03/2009)


Debt

TOTAL - DEBT 3099.78Commercial Paper 0.00TOTAL - Commercial Paper

Cash ‘n’ Call, Current Assets & Receivables 362.00

GSEC 6.05% 02/02/2019 AAA 186.48RURAL ELECTRIFICATION CORPORATION AAA 96.65RELIANCE CAPITAL A1+ 800.00IL&FS INVESTSMART F1(SO) 709.17FIRST LEASING PR1+ 700.00ERA CONSTRUCTION F2+ 507.48BAJAJ HINDUSTAN F1 100.00

Avg. Maturity (in years) : 1.12

Avg. Duration (in years) : 1.00

PORTFOLIO (as on 31/03/2009)

TOTAL FUND : Rs. 122651.80 Lakh(as on 31 )/03/2009

Bonds / Debentures

Commercial Papers

IDFC AAA 5027.50

H D F C AAA 4974.75

I C I C I BANK AAA 3510.00

MAGMA LEASING AA- 7000.00

ARCH PHARMALABS F1 5000.00

TATA REALTY AND INFRASTRUCTURE LTD PR1+(SO) 3000.00

B. SEENAIAH & CO. (PROJECTS) LTD. A1 3000.00

BLUE BIRD (IND) PR1 3000.00

MAGMA LEASING AA 2865.00

BHUSHAN STEEL & STRIPS F1 1200.00

STERLING BIO-TECH PR1 1150.00

TRAPTI TRADING & INVESTMENT A1+ 1000.00

MIDDAY MULTIMEDIA P1 995.00

SHRIRAM TRANSPORT FINANCE AA 800.00

COX AND KINGS PR1 800.00

BAJAJ HINDUSTAN F1 500.00

KOUTONS RETAIL INDIA PR1 476.20

ALOK INDUSTRIES PR1 300.00

REI AGRO PR1 300.00

AMALGMATED BEAN COFEE TRADING CO. L PR1+ 50.00

VIDEOCON INDUSTRIES F1 20.00

SREI INFRASTRUCTURE FINANCE AA 2.82

DLF A1+ 8517.31

SUNDARAM FINANCE A1+ 559.59

INDIABULLS FINANCIAL SERVICES P1+ 286.51


Expense Ratio (as on 31/03/2009) : 0.43%

NAV (Rs.) as on 31 3

Daily Dividend : 10.0000 Weekly Dividend : 10.0026

10.0614 11.7431

/0 /2009

Monthly Dividend : Growth :

LICMF INCOME PLUS FUNDAn Open-ended Debt Scheme

Category Exposure (Rs. Lakh) % Contribution

Equity 2795.46 44.68%

Debt 3099.78 49.54%

Money Mkt. 362.00 5.79%

Total 6257.24 100.00%

DIVIDEND RECORD

Year Rate

1989-90 12.50%

1990-91 13.00%

1991-92 13.50%

1992-94 (18 months) 15.00%

1994-95 7.50%

1996-97 6.00%

1997-98 10.00%

1999-00 10.00%

Year Rate

2001-02 10.00%

2002-03 7.50%

2003-04 17.00%

2004-05 20.00%

2005-06 28.00%

2006-07 44.00%

2007-08 30.00%

2008-09 0.00%

July, 07 0.06660000 0.08314312 0.06570000Aug., 07 0.06640000 0.05480000 0.07180000Sept., 07 0.06460000 0.07320000 0.06490000Oct., 07 0.07380000 0.07020000 0.07410000Nov-07 0.07040000 0.06220000 0.06900000Dec-07 0.07400000 0.06670000 0.07430000Jan-08 0.07500000 0.08500000 0.07530000Feb-08 0.06900000 0.06300000 0.06910000Mar-08 0.08220000 0.09270000 0.08290000Apr-08 0.06720000 0.06200000 0.06750000May-08 0.06860000 0.06340000 0.06870000Jun-08 0.07650000 0.08690000 0.07690000Jul-08 0.07880000 0.08860000 0.07910000Aug-08 0.07820000 0.07560000 0.07870000Sep-08 0.08850000 0.09690000 0.08890000Oct-08 0.09410000 0.08220000 0.09450000Nov-08 0.07390000 0.07850000 0.07510000

Dec-08 0.08630000 0.09820000 0.09370000Jan-09 0.07070000 0.05430000 0.07080000Feb-09 0.05580000 0.05660000 0.05590000Mar-09 0.06120000 0.06460000 0.06140000

Month Daily Weekly Monthly

Certificate of Deposit

Bank Deposits

Cash ‘n’ Call, Current Assests and Receivables 33925.67

VYSYA BANK P1+ 9275.50VIJAYA BANK PR1+ 4916.33UNITED BANK OF INDIA A1+ 4855.43I D B I BANK A1+ 4844.20

BANK OF INDIA 10000.00PUNJAB NATIONAL BANK 500.00



Avg. Maturity (in months) : 5.89Avg. Duration (in months) : 5.59

Expense Ratio (as at 31 ) : 2. %/03/2009 50

Last 1 yearSince Inception

9.50%9.14%

Benchmark (C Fund ~ LX) Return - last 1 year 8.80%

ANNUALISED RETURNS


DIVIDEND DECLARED

The financial year 2008-09 was a very difficult year not only for the global and Indian economy in general but also

for the India Mutual Fund Industry in particular. Following the bankruptcy of Lehman Brothers in mid September

2008, the global financial markets that were already suffering the consequences of the sub-prime credit and

other financial misadventures, totally seized and the shockwaves hit India and other emerging economies

shattering in its wake the “decoupling” theory which had claimed that emerging markets would be immune to

the financial turmoil faced by the Developed economies for various reasons. The turmoil in the financial and real

economy soon caused a deep crisis of confidence and Mutual funds faced a deluge of redemptions in October

2008. Just as the saying goes “When the going gets tough, the tough get going”, LICMF, which also faced the

crisis, came out much stronger.

On its part, the Government of India, to combat slowdown announced three stimulus packages, of which one

includes the reduction in the key interest rates. This came as a boon to the G-Sec investors with yields falling to

its lowest thereby benefiting the banks with better profits. Inflation figures began to fall though too much of it is

not good for economic growth. While rest of the measures were meant to boost the aggregate economic

demand, their impact is yet to be felt in the coming quarters and it is believed that if the investment and

consumption picks up as expected, the increased fiscal deficit, which is inevitable on account of the conscious

decision to provide the monetary and fiscal stimulus, can be quickly reversed.

After 9% GDP growth for 2007-08, PM's Advisory Council has projected, in January 09, growth of 7.1% for 2008-

09. This has been revised further to 6.5-7% in March 09. However, there are positive notes as well. GDP growth

rate of 7% is expected in 2009-10 and is possible to accomplish for all valid reasons. Oil and Commodities prices,

the key factors to dampen the industry demand, have now declined. Interest rates have calmed down and cost of

borrowing has reduced and may be relaxed further if there is another cut in key interest rates. Liquidity is no

longer a constraint. Sixth Pay Commission when fully implemented is bound to increase the disposable income

of the population. Interest on the investment in country's infrastructure is still strong.

Average AUM of LIC Mutual Fund as on March 31, 2009 stood at Rs.23,092.37 crore. With this we have achieved

a growth of 64.29% in AAUM over last year's AAUM of Rs.14,056.16 crore. The growth in AAUM registered by

LICMF is one the highest in the industry. Of the total assets under management, nearly 87% is contributed by

debt schemes while the rest is made of equity and hybrid schemes. During the year we have launched 11 NFOs,

of which 7 were FMPs and 4 were Interval Funds.

For the period ending December 31, 2008, LICMF Liquid Fund and LICMF Floating Rate Fund received the “Gold

Award” for best performance in the respective category for 3-year period and were rated as 7 Star Funds in the

ICRA Mutual Fund Awards. While LICMF Income Plus received the “Gold Award” for best performance in the

respective category for 1-year period, was also rated as 7 Star Funds. Besides this our schemes got three 5 Star

Fund Awards. Morningstar, leading global investment research based company best known for rating funds and

stocks, awarded LICMF Liquid Fund with the Best Fund in the India Liquid category.

The schemes in debt category have by and large outperformed their respective benchmarks for FY2008-09.

Hybrid and equity schemes performed in line with the market indices. Almost all the schemes performed in the

top-20 performance bracket.

Increased thrust is given to attracting and retaining pool of retail investors across semi urban and rural areas.

Determined efforts have been made to make products available across wide spread locations. Field force has

been increased by manifold and feedback mechanism is in place. LICMF Short Term Plan was relaunched as

LICMF Savings Plus Fund keeping the needs of retail investors in mind.

LICMF thanks all its investors for their continuous trust. We reaffirm our commitment to deliver value to our

customers.

- CEO's Desk

Where we stand…

Whither from here…

FUND PERSPECTIVE


LICMF GROWTH FUNDAn Open-ended SchemeGrowth

PORTFOLIO (as on 31/03/2009) PORTFOLIO (as on 31/03/2009)

YESBANK 12.48 0.26%

VIJAYABANK 11.65 0.24%

PROVOGUE(INDIA) 5.80 0.12%

RENAISSANCEJEWELLERY 0.06 0.00%

0.00%

Total Equity 4110.01 86.27%

Debt 0.00 0.00%

Total-Debt 0.00 0.00%

Commercial Paper/Bank Deposit 0.00 0.00%

Cash‘n’Call, Current Assets & Receivables 654.28 13.73%

Holdings Mkt. Value %

(Rs. Lakh) Contribution

TOTAL FUND : Rs. Lakh(as on 31 )/03/2009 4764.29

Expense Ratio (as on ) : 0. %31/03/2009 16

Last 1 year -35.27%

Last 3 year -10.66%

Since Inception 5.37%

%Benchmark (Sensex) Return - last 1 year -37.94

ANNUALISED RETURNS


Holdings Mkt. Value %(Rs. Lakh) Contribution

Equity

SBI 381.86 8.01%

RIL 380.80 7.99%

L&T 302.69 6.35%

ONGC 296.29 6.22%

ICICIBANK 249.45 5.24%

GAIL 247.41 5.19%

HDFCBANK 203.25 4.27%

CONCOR 190.78 4.00%

NTPC 180.20 3.78%

POWERFINANCECORPORATION 179.55 3.77%

PUNJABNATIONALBANK 164.36 3.45%

RELIANCEINFRASTRUCTURE 154.61 3.25%

HDFC 141.12 2.96%

INFRASTRUCTUREDEVELOPMENTFINANCE 135.50 2.84%

BANKOFINDIA 109.95 2.31%

ELDERPHARMACEUTICALS 108.63 2.28%

TATACHEMICALS 82.71 1.74%

RELIGAREENTERPRISES 81.88 1.72%

NEYVELILIGNITECORPORATION 73.70 1.55%

AXISBANK 62.18 1.31%

BEML 57.23 1.20%

POWERTRADINGCORPORATIONOFINDIA 56.17 1.18%

JAIPRAKASHASSOCIATES 54.73 1.15%

JAIPRAKASHHYDRO-POWERLTD. 53.94 1.13%

POWERGRIDCORPORATIONOFINDIA 37.49 0.79%

PUNJLLOYD 27.35 0.57%

RELIANCECOMMUNICATION 26.19 0.55%

TISCO 20.60 0.43%

PETRONETLNG 19.43 0.41%

LICMF TAX PLANAn Open-ended ELSS


DIVIDEND HISTORY

Month Dividend

Mar-04 20.00%Mar-05 30.00%Aug-05 10.00%Mar-06 20.00%Oct-06 25.00%May-07 10.00%Oct-07 15.00%







Debt 0.00

Total - Debt 0.00

Commercial Paper / Bank Deposit 0.00


Equity

Total Equity 1915.06

S B I 223.98

L & T 201.80

S A I L 183.26

R I L 177.65

O N G C 155.94

I T C 147.84

H D F C 98.78



I C I C I BANK 83.64

RELIANCE INFRASTRUCTURE 56.69

G A I L 54.96

RELIGARE ENTERPRISES 49.13

T I S C O 47.17

BANK OF INDIA 43.98


CAIRN INDIA 36.81

CENTURY TEXTILES 35.18

POWER FINANCE CORPORATION 26.06

ADANI ENTERPRISES 21.36

PAREKH ALUMINEX 11.09

TATA MOTORS 10.82

KOTAK MAHINDRA BANK 8.57

INFRASTRUCTURE DEVELOPMENT FINANCE 8.13


RENAISSANCE JEWELLERY 0.02

Holdings Market Value(Rs. in Lakhs)

Last 1 year

Last 3 years

Since Inception

-37.51%

-12.74%

4.45%

Benchmark (Sensex) Return Last 1 year -37.94%

ANNUALISED RETURNS

DIVIDEND HISTORY

Month Dividend

Oct-07 15.00%

NAV (Rs.) as on 31/03/2009: DIVIDEND: 5.8477; GROWTH: 6.5934

NAV (Rs.) as on 31/03/2009; Dividend: 5.9741; Growth: 16.6857

The year that was….

Indices % Fall Indices % Fall

Sensex -37.94 BSE POWER -42.09

BSE FMCG -11.08 BSE 500 -42.77

HEALTHCARE -26.45 CAPITAL GOODS -53.84

BSE-oil and Gas -29.59 BSE Midcap -54.01

Auto -32.34 Consumer Durables -58.14

BSE-IT -35.57 Small-cap -58.6

Tech -38.93 Metal -58.67

Bankex -41.81 Realty -79.34

Indian Economy

The projected growth rate for the Indian economy is estimatedto be 6.5-7% for the year 2009 as per the PM's Advisory Counciland around 7.7% in the year 2010. The growth rate will bemoderate mainly due to fall in the Industrial growth and sloweragricultural growth. The inflation measured by the WPI hasreached in the trajectory of disinflation. The decliningcommodity prices and weakening demand resulting fromeconomic slowdown led to decline of the annual inflation rate tofall to another historic low of 0.27 per cent for the week endedMarch 14. The Rupee has been very volatile and weak againstdollar during the year. Gold as an asset class gave anappreciation of 29% in the last financial year which is anindicator of investors' attention shifting from financial assets totraditional commodities.

Currently, in order to increase the liquidity in the market, thegovernment and the Reserve Bank of India has introducedstimulus packages leading to softening of interest rates, cuttingof duties and tax rates. Falling Stock market, slowing real estatemarket and stringent lending which leads to slowconsumption/spending is leading the overall economy into adawdling phase.

However, with the new government in place, new reforms areexpected. India's banking system has been sound and resilientin the current financial turmoil.

The year 2008-2009 was a gloomy year for the Indian stockmarket. The unprecedented mayhem in the financial markets inUS that began in the late FY08 brought the entire world in itsclutches.

For the first time in five years the BSE Sensex gave negativereturns over the financial year. It closed at 9708 down 37.94 percent from the previous fiscal close of 15644. The broader 50-share Nifty closed at 3021 down 36.19 per cent from theprevious fiscal close of 4734.50.

Booking of losses under sub-prime loans by leading financialfirms in US and the credit crises in US led to fall of the entirefinancial system all over the world. The economic crises causedsteep fall of the stock markets across various countries and alsoled to temporarily close some of the stock markets. Indian Stockmarket fell drastically to 15332.42 levels on 22 January 2008from its peak of 20206.77 on 10 January 2008. The next majorshock came in September 08 with the filing of bankruptcy byLehaman Brothers, Sale of Merril Lynch to bank of America andrescue package for one of the largest insurer AIG which sufferedliquidity crisis led to major Financial meltdown across the globe.The Indian Stock market was no exception to this financialhavoc. The heavy selling by the FIIs, liquidity crunch and worriesabout global slowdown put pressure on the Indian stockmarket. The BSE Sensex touched the lowest of the year 7697.39on 27 October 08. However, from October to March 2009, themarkets have been moving in the range of 8000 to 11000 levels.The Indian economy along with the global economy fell into thevicious circle of slowdown. The regulators revised downwardEconomic growth estimates due to poor industrial output data.

The Sensex lost almost 6000 points during this financial year.The Mid-cap and Small-caps are more affected than the largecaps and the indices fell by 54% and 58.6% during the year.

Amongst the Sectoral indices, BSE Realty Index was the worsthit during the fiscal losing 79.34%. The real estate companystocks had a good rally in the last Bull Run. However, theseprices corrected sharply due to plunge in the real estate market

nd

th

th

Equity Market

owing to slow demand, higher interest costs and input cost. TheBSE Metal Index also lost 58.67% due to sharp fall in thecommodity prices. The most resilient sectors were FMCG andHealthcare that fell only 11.08% and 26.45% respectively. Thesteep fall in the oil prices led to fall in the prices of Oil companiesstocks.

The Foreign Institutional Investors (FIIs), the major participantsin the Indian stock market offloaded equities worth Rs.6151.50Crores during 2008-2009(sebi data). However, the FIIregistration showed a significant rise during the same period.The total number of registration of FII stood at 1635 and FII sub-accounts at 5015 as on 31st march 2009 against 1319 FIIs and3964 sub-accounts a year ago. The Domestic Institutionalinvestors tried to support the Indian Market by on buying side.The Mutual Funds bought shares worth Rs.1477.30 crore on31/03/2009.

The Elections are due in April 2009 and as per estimates,Rs. 10,000 crores is to be spent on it. From 1996 till date inspiteof 4 coalition governments into power India has managed togrow at 9 per cent rate. This time around as well, many fear ahung Lok Sabha. But any new government will try to continuereforms, wipe out the fiscal deficit as much as possible in orderto put the Indian growth story on track.

Money market was easy and the call rates were soft through outthe month on account of ample cash with the Bank & improvedliquidity condition. Call rates traded at 2.25 -4.30 % at the end ofthe month.

Headline inflation, as measured by the wholesale price index,has fallen sharply to 0.44 percent week to march 7, two decadelow providing room for RBI to cut interest rates. FY 2008-09 sawa massive reversal of fortunes in terms of crude oil prices, withthe commodity hitting its all time-high in July and a four-year lowby mid-December. Inventory pile caused by Lower demand sawcrude oil prices dropped by nearly $100 to $47.25 by the end ofyear from its peak in July 2008.

Last year 10-year G-sec was trading at a yield of 7.94 percent, assentiments were jittery on inflation concerns. The yield on the 10year bond fell by 93 basis points in FY 2008-09, mostly due toaggressive rate cuts by the RBI to boost the economy. Thecentral bank has cut its repo rate by 275 basis points to 5.00percent and banks' cash reserve requirements by 250 basispoints to 5.00 percent over the past one year. Earlier, G-Secyield touched a record low of 4.86 percent, as series of rate cutcoupled MSS buy back by RBI boosted the confidence in G-secMarket. However, the yield on government securities has beenclimbing in the recent past with new benchmark 2019 bondclosing at 7.01 percent at the end of month. This Sluggishnessin G-sec market is largely attributable to the substantial increasein the quantum of government borrowing reflecting the surge infiscal deficit. The central government's borrowing target for thefirst half of FY 2009-10 has been pegged at Rs 2,41,000 crorealmost 80 per cent of its total borrowing in FY 2008-09. On thecorporate bond front, spread between the ten -year corporateand government debt yields was at around 202 basis points and5-year AAA corporate bond and government debt was 171basis points. Rupee closed at 50.71/72 per dollar on 31st March09. Rupee lost nearly 21 percent in 2008-09, biggest fall sincethe balance of payment crisis.

The capital markets seem to be in a consolidation phase. Thenext major response from the Equity markets is expected afterthe results of the forthcoming Election, the policy decisionstaken by the New Government, the economic response to thesepolicy decisions, the GDP Data and the corporate resultsexpected soon. The Indian stock market is expected to be rangebound in near future.

The Debt Markets also have gone through their own turmoil.With inflation moving towards negative territory, RBI may go fora rate cut to stimulate demand and protect the economy fromglobal recession. This may help in softening of yields ongovernment securities & corporate bonds. We expect liquidityto remain soft in the foreseeable future.

CIO’s Desk...

Debt Market

Outlook

MUTUAL INTEREST4 13MUTUAL INTEREST

SCHEMES

26th March 99

To generate attractive returns forour investors by investing in qualitydebt securities and money marketinstruments.

Debt

Nil

1% if exit within 1 year forInvestment 1 Cr;

Nil for Investment > 1 Cr

Rs. 5000/-

On all business days

SIP / SWP / STP / AWOCA

Available

Dividend / Growth

Redemption on all business days

<

15th November 99

To generate steady and consistentreturns for our investors by timingthe government securities market.

Debt - Gilt

PF / Regular

Investment upto 1 crore : 1.25%

Nil

1% if Exit within 365 daysfrom the date of allotment

Regular Plan: Rs. 5,000/-PF Plan: Rs. 10000/-

Dividend / Growth

Investment above 1 crore : Nil

Nil




Available

Regular Plan

PF Plan :

Regular Plan

PF Plan :

26th September 01

To generate long term capitalappreciation through judiciousmix of quality debt & equityinstrument at moderate risklevels through research basedinvestments.

Balanced

Nil

1% if exit within 3 years fromthe date of investment; Nil if exitafter 3 years from the date ofinvestment

Rs. 5000/-

Growth




Available

29th May 03

To generate income by investing ina portfolio of quality short termdebt securities.

Debt - Short Term

Nil

Nil

Rs. 5000/-

Dividend / Growth




Available

Bond Fund G-Sec Fund Savings Plus Fund Children’s Fund

11th March 02

To generate reasonable returnswith low risk and high liquiditythrough judicious mix of investmentin money market and quality debtinstruments

Debt - Liquid

Dividend / Growth

Nil

Nil

Rs. 25000/-

Redemption on all businessdays

On all days

STP

Available

1st June / 03

To generate regular income byinvesting mainly in quality debt andmoney market instruments withsome portion in equity/equityrelated instruments for long termcapital appreciation.

Debt

Monthly Div./Quarterly Div.Yearly Div./Growth

Nil

0.5% for investments25 lakhs for 6 months;

0.25% for investment> 25 lakhs for 3 months.

Rs. 25000/- for MonthlyOption; Rs.15000/- for QuarterlyOption; Rs.10000/- for YearlyOption; Rs.5000/- for Growth Option.




Available

<

15th March 2004

To generate consistent returnsby investing mainly in floatingrate instruments/fixed rateinstruments swapped for floatingrate return so as to minimise theinterest rate risk for the investor.

Debt - Floating

Dividend / Growth

Nil

Nil

Rs. 5,000/- and thereafter inmultiples of Rs. 500/-.


On all days


Available

19th June 89

To generate long term capitalappreciation and offer Tax rebate u/s80 C as well as additional benefits ofa life & insurance cover free accidentinsurance cover.

Insurance linked tax saving

Single Premium-5/10 year termRegular Contribution-10/15 year term

Dividend Re-investment

2.25%

Nil

Rs. 10000/- under Single PremiumRs. 1000/- under Regular Premium-yearly option, Rs. 500/- underRegular Premium - monthly option



SIP / STP

Available

Liquid Fund Monthly Income Plan Unit Linked Insurance Scheme Floating Rate Fund - STP

Launch Date

Objective

Type

Plans

Options

Entry Load

Exit Load

Minimum Investment

Liquidity

NAV Declaration

Special Facilities

Nomination

Launch Date

Objective

Type

Plans

Options

Entry Load

Exit Load

Minimum Investment

Liquidity

NAV Declaration

Special Facilities

Nomination

LICMF INDEX FUNDAn Open-ended Index Linked Equity Scheme

Equity

TotalEquity 9590.06Cash‘n’Call, Current Assets & Receivables 259.31

RIL 1216.29ONGC 845.15NTPC 751.62BHARTITELEVENTURE 602.84INFOSYSTECHNOLOGIES 383.80BHEL 375.02ITC 354.09SBI 343.95TATACONSULTANCYSERVICES 266.50HUL 262.94RELIANCEPETROLEUM 217.57HDFCBANK 209.37POWERGRIDCORPORATIONOFINDIA 205.08HDFC 204.25SAIL 202.67L&T 198.72ICICIBANK 188.36RELIANCECOMMUNICATION 183.35WIPRO 181.61CAIRNINDIA 177.70GAIL 157.03DLF 144.37STERLITEINDUSTRIES 127.77RELIANCEPOWERLTD 124.82SUNPHARMACEUTICALS 116.45MUL 113.61HEROHONDAMOTORS 107.99CIPLA 87.71TATAPOWER 85.61IDEACELLULAR 79.03TISCO 75.77AXISBANK 75.47VSNL 74.46GRASIMINDUSTRIES 73.66NALCO 70.88BPCL 68.43PUNJABNATIONALBANK 65.59RELIANCEINFRASTRUCTURE 60.90ACC 54.41GACL 54.18M&M 49.04ABB 46.18SIEMENS 44.81RELIANCECAPITAL 44.76HINDALCO 44.39TATAMOTORS 41.32RANBAXYLABORATORIES 35.61HCLTECHNOLOGIES 34.41SUZLONENERGY 31.50UNITECH 29.00

NIFTY PLAN - PORTFOLIO (as on )31/03/2009

TOTAL FUND / : Rs. 9849.37 Lakh(as on 31/03 2009)

NAV (Rs.) as on 31/03/2009: Dividend: 6.3646; Growth: 17.2522


(Last 1 year)

-37.82%-7.77%10.68%

Benchmark NSE - Nifty Return -36.19%

ANNUALISED RETURNS

EquityRIL 394.77INFOSYSTECHNOLOGIES 214.90ITC 162.71BHARTITELEVENTURE 136.82ICICIBANK 123.44L&T 118.00HDFCBANK 116.55HDFC 113.69ONGC 111.15SBI 101.52HUL 86.55BHEL 85.97NTPC 74.37TATACONSULTANCYSERVICES 43.99RELIANCECOMMUNICATION 42.06TATAPOWER 39.51MUL 37.24GRASIMINDUSTRIES 36.14TISCO 35.18

SENSEX PLAN PORTFOLIO (as on 31/03/2009)

Holdings Mkt. Value (Rs. lakhs)





Last 1 yearsLast 3 yearsSince Inception

-41.87%-7.35%12.17%

Benchmark BSE - Sensex Return (Last 1 years) -37.94%

ANNUALISED RETURNS

SENSEX ADVT. PLAN PORTFOLIO (as on 31/03/2009)

Month Dividend (%)Nifty Sensex Sensex Advt.

Nov-03 13 13 15Jan-04 16 15 17Aug-05 25Nov-05 40Jan-06 50Feb-06 50Nov-06 50Feb-07 50Mar-07 20 20Mar-08 20 15










-37.72%-11.50%11.16%

Benchmark BSE - Sensex Return (Last 1 year) -37.94%

ANNUALISED RETURNS

DIVIDEND HISTORY


Holdings Mkt. Value (Rs. lakhs)Equtiy

Total Equity 315.02


RIL 46.63

INFOSYSTECHNOLOGIES 23.93

AXISBANK 20.73

ITC 18.13

BHARATELECTRONICS 17.66

BHARTITELEVENTURE 17.36

ICICIBANK 13.73

L&T 13.12

HDFC 12.56

ONGC 12.45

SBI 11.45

HDFCBANK 10.99

HUL 9.82

BHEL 9.64

NTPC 8.31

TATAPOWER 6.57

INDIACEMENTS 5.30

TATACONSULTANCYSERVICES 4.92

SAIL 4.82

RELIANCECOMMUNICATION 4.68

TATAMOTORS 4.65

GRASIMINDUSTRIES 4.30

MUL 4.16

TISCO 3.92

JAIPRAKASHASSOCIATES 3.63

HINDALCO 3.10

WIPRO 2.87

M&M 2.84

RELIANCEINFRASTRUCTURE 2.83

STERLITEINDUSTRIES 2.64

ACC 2.51

SUNPHARMACEUTICALS 1.71

DLF 1.59

RANBAXYLABORATORIES 1.46

STERLITEINDUSTRIES 33.59SUNPHARMACEUTICALS 30.87RELIANCEINFRASTRUCTURE 25.30M&M 24.72WIPRO 23.98ACC 19.88HINDALCO 19.26JAIPRAKASHASSOCIATES 18.33TATAMOTORS 14.48DLF 14.18





SNAPSHOT

31st January 2005

The investment objective of the scheme isto provide capital growth in long-term withreasonable risk levels by investing mainlyin companies which are in sector/s, whichhave a high growth potential at that pointto time.

Equity - Diversified

Dividend / Growth

Investment upto 1 crore: 2.25%Investment above 1 crore: Nil

Nil

Rs. 5000/-




Available

1st January 1997

To provide capital growth alongwithtax rebate and tax relief u/s 80 C toour investors through PrudentInvestments in the stock market.

ELSS

Dividend / Growth

2.25%

Nil

Rs. 500/-




Available

21st September 2004

Debt

Plan A / Plan B

Monthly Div. / Quarterly Div. / Yearly Div. /Growth

Nil

For application size upto 25 lakh: 0.5% if exit within6 months from the date of investment.For application size > 25 lakh: 0.25% if exit within3 months from the date of Investment.

Rs. 25000 for Monthly Div. / Rs. 15000 forQuarterly Div. / Rs. 10000 for yearlyDiv. / Rs. 5000 for Growth




Available

The investment objective of the scheme is togenerate regular income by investing mainly infloating rate instruments / fixed rate instrumentsswapped for floating rate return so as to minimisethe interest rate risk and at the same time aiming atgenerating capital appreciation in a long term byinvesting in equity / equity related instruments.

14th November 02

To provide capitalgrowth by investing in index stocks.

Equity - Index

Sensex / Nifty / Sensex Advantage

Dividend / Growth


Nil

Rs. 2000/-




Available

16th April 98

To obtain maximum possible maximumpossible growth consistent withreasonable levels of safety and securityby investing mainly in equities.


Dividend / Growth


Nil

Rs. 2000/-




Available

1st January 91

To provide regular returns & capitalappreciation according to the slection of theplan by investing in equities & debt.

Balanced

Dividend / Growth


Nil

Rs. 1000/-




Available

Index Fund Growth Fund Balanced Fund Equity Fund

Opportunities Fund Tax Plan Floater MIP

SIP: SWP: STP: AWOCA:Note :

Systematic Investment Plan; Systematic Withdrawal Plan; Systematic Transfer Plan; Automatic Withdrawal of Capital AppreciationSWP & AWOCA are available under growth options only.

1st September 99

To provide capital growth by investingin a mix of equity instruments.


Dividend / Growth


Nil

Rs. 2000/-




Available

LICMF EQUITY FUNDAn Open-ended Equity Scheme

LICMF OPPORTUNITIES FUNDAn Open-ended Growth Scheme







Last 1 year

Since Inception

-38.11%Last 3 year -10.85%

2.10%Benchmark (BSE-200) Return Last 1 year -40.98%

ANNUALISED RETURNS


DIVIDEND HISTORYMonth DividendFeb-06 20.00%Oct-06 25.00%Nov-07 30.00%

Income Plus Fund

28th May 2007

To provide reasonable possible currentincome - consistent with preservationof capital & providing liquidity frominvesting in a diversified portfolio ofShort-Term Money Market & Debtsecurities.

Debt

Dividend Frequency :Daily / Weekly / Monthly

Dividend / Growth

Nil

Nil

Rs.5,00,000/-



STP

Available


Equity

L & T 336.33 6.34%

S B I 319.97 6.03%

TATA POWER 191.33 3.60%

BHARTI TELEVENTURE 188.80 3.56%

H D F C 183.46 3.46%

N T P C 180.20 3.40%

I C I C I BANK 166.30 3.13%

POWER FINANCE CORPORATION 159.28 3.00%

BANK OF INDIA 153.93 2.90%

O N G C 148.14 2.79%

H D F C BANK 145.18 2.74%

RELIANCE INFRASTRUCTURE 133.01 2.51%

INFRASTRUCTURE DEVELOPMENT FINANCE 124.66 2.35%

PUNJAB NATIONAL BANK 123.27 2.32%

R I L 121.86 2.30%

A C C 115.33 2.17%

POWER GRID CORPORATION OF INDIA 114.78 2.16%

B H E L 105.30 1.98%

RELIANCE PETROLEUM 95.15 1.79%

CONCOR 85.94 1.62%

POWER TRADING CORPORATION OF INDIA 76.29 1.44%

PUNJ LLOYD 72.92 1.37%

RELIANCE COMMUNICATION 69.84 1.32%

PETRONET LNG 58.28 1.10%

S A I L 53.36 1.01%

JAIPRAKASH ASSOCIATES 50.52 0.95%

ABAN OFFSHORE 27.98 0.53%

T I S C O 20.60 0.39%

CAIRN INDIA 18.41 0.35%

IDEA CELLULAR 5.02 0.09%

RENAISSANCE JEWELLERY 0.02 0.00%

Total - Equity 3645.42 68.68%

Debt 0.00

Total - Debt 0.00 0.00%

Cash ‘n’ Call, Current Assets & Receivables 1662.38 31.32%

An Open-ended Equity Scheme


Holdings Mkt. Value %(Rs. Lakh) Holdings



DIVIDEND HISTORY

Month DividendMar-04 12.00%Mar-05 10.00%Nov-05 20.00%Oct-06 25.00%Nov-07 50.00%

Expense Ratio (as on ) : %31/03/2009 0.89


Equity


S B I 373.48 5.85%

L & T 371.89 5.82%



I C I C I BANK 329.27 5.16%

N T P C 320.74 5.02%






SUN PHARMACEUTICALS 122.57 1.92%

TATA POWER 114.80 1.80%

KOTAK MAHINDRA BANK 113.18 1.77%

I F C I 96.50 1.51%

RELIGARE ENTERPRISES 81.88 1.28%


H D F C 70.56 1.10%

I O C L 58.10 0.91%

TATA MOTORS 56.69 0.89%

PROVOGUE (INDIA) 49.91 0.78%

H D F C BANK 48.39 0.76%

PAREKH ALUMINEX 46.19 0.72%

AXIS BANK 41.45 0.65%

M & M 38.32 0.60%

ALPHAGEO INDIA 13.58 0.21%



Debt 0.00 0.00%

Total Debt 0.00 0.00%


ANNUALISED RETURNS


Last 1 year -35.59%Last 3 years -10.01%Since Inception 5.38%Benchmark (Sensex) Return Last 1 year -37.94%


LICMF BOND FUNDAn Open-ended Debt Scheme

LICMF LIQUID FUNDAn Open-ended Liquid Scheme


Bonds / Debentures

Commercial Papers


NHB HDFC AAA 12597.50

WELSPUN GUJARAT STAHL ROHREN A+ 10570.00

I R F C AAA 9166.92


P F C AAA 2491.25

H D F C AAA 1568.55

TGS INVESTMENT & TRADE A1+ 30000.00

REI AGRO PR1 28900.00


JAIPRAKASH ASSOCIATES PR1+ 23000.00


TRAPTI TRADING & INVESTMENT PVT LTD A1+ 20000.00

BIRLA TMT HOLDING P1+ 10000.00

JINDAL STEEL & POWER A1+ 10000.00

GENUS POWER INFRA F1 8800.00


PIRAMAL HEALTHCARE A1+ 7175.00




ORIENT PAPERS & INDUSTRIES A1+ 5000.00

DEWAN HOUSING FINANCE AA+ 5000.00


EURO CERAMICS PR1+ 4000.00

RELIGARE FINVEST A1+ 3800.00


COX AND KINGS PR1+ 3500.00


VALECHA ENGINEERING PR1 2500.00

FIRST LEASING PR1 1498.77


HINDUSTTHAN NATIONAL GLASS & INDS PR1+ 1320.00




BALLARPUR INDUSTRIES F1+ 575.00

PMT MACHINES LTD PR1 400.00


RELIANCE CAPITAL A1+ 84527.80


TATA CAPITAL A1+ 36960.19

ADLABS FILMS A1+ 18996.19


ICICI HOME FINANCE COMPANY A1+ 18146.02

SHRIRAM TRANSPORT FINANCE F1+ 17981.21

MAGMA FINCORP PR1+ 13695.38

TATA MOTORS A1+ 13605.45

BHUSHAN STEEL & STRIPS PR1+ 9157.53

MERCATOR LINES PR1+ 9095.66

FIRST LEASING PR1+ 9012.82

TATA CAPITAL LTD A1+ 8937.90

IL&FS INVESTSMART F1+ 8916.12

TELEVISION EIGHTEEN A1+ 8629.33

DALMIA CEMENT A1+ 8221.51

UTV SOFTWARE COMMUNICATION LTD. A1+ 7221.93

ESSAR SHIPPING PORTS & LOGISTICS F1 6626.75

FUTURE CAPITAL HOLDINGS P1 5630.79

KALPATARU POWER TRANSMISSION PR1+ 4770.72

RELIGARE SECURITIES P1 4542.47

BAJAJ AUTO FINANCE P1+ 4509.78

PATEL ENGINEERING PR1+ 4485.57

ORIX AUTO INFRASTRUCTURE SERVICES PR1+ 4465.60

ABG SHIPYARD PR1+ 4397.06

RAYMOND PR1+ 3922.61

VYSYA BANK P1+ 24149.91

ORIENTAL BANK OF COMMERCE P1+ 9250.93

EXIM AAA 9248.24

ANDHRA BANK F1+ 9247.44

I D B I BANK P1+ 7663.69

VIJAYA BANK PR1+ 4916.33

Last 1 yearLast 3 yearSince Inception (18.03.2002)

9.23%8.28%6.96%

Benchmark © Fund ~LX) Return (Last 1 year) 8.80%

ANNUALISED RETURNS


Holdings Rating Mkt. Value(Rs. lakhs)



TOTAL FUND : Rs. 1102275.31Lakh(as on 31 )/03/2009



DIVIDEND HISTORY

Mar-02 0.0204May-02 0.0472Oct-03 0.0400Nov-03 0.0337Dec-03 0.0421Jan-04 0.0327Feb-04 0.0335Mar-04 0.0298Apr-04 0.0329May-04 0.0368Jun-04 0.0285Jul-04 0.0145Aug-04 0.0417Sep-04 0.0339Oct-04 0.0333Nov-04 0.0448Dec-04 0.0348Jan-05 0.0461Feb-05 0.0400Mar-05 0.0422Apr-05 0.03933992May-05 0.04240000Jun-05 0.04089337Jul-05 0.04210000Aug-05 0.04250000Sep-05 0.04100000Oct-05 0.04455476Nov-05 0.04749685Dec-05 0.04943670Jan-06 0.05202764Feb-06 0.04836850Mar-06 0.07196284Apr-06 0.05065708May-06 0.05328228

Avg. Maturity (in month) : 5.99

Avg. Duration (in month) : 5.69

Jun-06 0.05243226Jul-06 0.05969500Aug-06 0.06310000Sep-06 0.06340000Oct-06 0.06860000Nov-06 0.06750000Dec-06 0.06280627Jan-07 0.07300000Feb-07 0.06420000Mar-07 0.07660000Apr-07 0.07970000May-07 0.07980000

Jun-07 0.06120000Jul-07 0.05370000Aug-07 0.06730000Sep-07 0.06430000Oct-07 0.06980000Nov-07 0.07360000Dec-07 0.07930000Jan-08 0.07750000Feb-08 0.07470000Mar-08 0.07973000Apr-08 0.07280000May-08 0.07830000Jun-08 0.08110000Jul-08 0.08440000Aug-08 0.08610000Sep-08 0.08700000Oct-08 0.09810000Nov-08 0.08640000Dec-08 0.08750000Jan-09 0.07920000Feb-09 0.08620000Mar-09 0.06830000

Month Gross DividendMonth Gross Dividend

UNITED BANK OF INDIA A1+ 4855.43

I D B I BANK A1+ 4844.20

CANARA BANK P1+ 4608.93

VYSYA BANK 20000.00

H D F C BANK 18800.00

CENTRAL BANK OF INDIA 13100.00

FEDERAL BANK 7500.00

AXIS BANK 2500.00


Bank Deposits


PORTFOLIO (as on )31/03/2009



DIVIDEND HISTORY

Last 1 yearLast 3 years .Since inception (09.05.1999) 9.

11.54%8 57%

29%

Benchmark (C CompBex) Return (Last 1 year) 7.26%

ANNUALISED RETURNS

PORTFOLIO RATING ANALYSIS

Month Gross Div. (%) Month Gross Div. (%)


DEBT

COMMERCIAL PAPER/ BANK DEPOSIT


I O C L AA+ 1161.59

RURAL ELECTRIFICATION CORPORATION AAA 966.52

T I S C O AA 877.06

S A I L AAA(SO) 536.94

GSEC 8.33% 2036 AAA 530.20

H U D C O AA 524.81

CITI BANK AAA 515.30

JET AIRWAYS (JUS TRUST PTC) AAA(SO) 400.62

R I L AAA 207.86

BOB HOUSING FINANCE(PTC NHB) AAA(SO) 96.83

DEVELOMENT CREDIT BANK A- 1154.11

I R F C AAA 1105.25

ANDHRA BANK PTC (NHB) AAA(SO) 59.44

Holdings Rating Mkt. Value (Rs. lakhs)

LICMF G-SEC FUNDAn Open-ended Gilt Scheme


GSEC 7.95%2032 AAA 5070.00

GSEC 7.95% 2032 AAA 4056.00


GSEC 8.33% 2036 AAA 2120.80

GSEC 8.24% .2027 AAA 459.89

Commercial Paper / Bank Deposit



Last 1 year

Last 3 years

Since inception (29.11.1999)

6.65%

5.68%

8.49%

Benchmark (I Sec Composite Gilt) Return

Last 1 year 12.97%

ANNUALISED RETURNS


NAV (Rs.) as on / /20010.5462 21.5971;

12.4538; 12.4538

31 03 9Reg.: ; Reg.Gr.:

PF-Div. PF-Gr. :

Securities Mkt. Value (Rs. Lakhs)Rating DIVIDEND HISTORY


Mar-00 2.50%

May-00 2.50%

Nov-00 2.50%

Mar-01 3.50%

Jul-01 3.00%

Nov-01 3.50%

Mar-02 7.00%

Jul-02 3.00%

Oct-02 3.50%

Jan-03 4.00%

Apr-03 4.00%

Jun-03 3.50%

Sep-03 3.50%

Dec-03 3.00%

Mar-04 3.00%

Jun-04 0.75%

Sep-04 0.50%

Mar-09 2.00%



Oct-99 4.00%Mar-00 4.50%May-00 3.00%Nov-00 3.50%Mar-01 4.50%Jul-01 4.00%Nov-01 3.50%Mar-02 3.50%Jul-02 3.00%Oct-02 3.00%Jan-03 3.00%Jun-03 2.25%Sep-03 2.25%Dec-03 2.00%Mar-04 1.50%Jun-04 1.00%Sep-04 0.50%Dec-04 1.00%

Mar-05 1.50%Jul-05 1.50%Oct-05 1.00%Jan-06 1.00%Mar-06 1.00%Jul-06 2.00%Oct-06 4.00%Jan-07 1.00%Mar-07 1.00%Jul-07 2.50%Oct-07 2.50%Jan-08 2.00%Mar-08 1.50%Jul-08 1.50%Oct-08 1.50%Jan-09 2.00%Mar-09 2.50%





AAA (SO)12.20%

AAA,AA+,P1+ orEquivalent59.73%

Money Market & Other22.07%

AA, AA-, A, PR1+(SO)& Others28.51%

AAA37.09%

AA+12.96%

Money Market9.25%

P1, , A+AA-- orEquivalent12.54%

Bank Deposits5.66%


LICMF FLOATING RATE FUND - STPAn Open-ended Income Fund


TOTAL FUND : Rs. 83941.05 Lakhs(as on 31/03/2009)

LICMF SAVINGS PLUS FUND(An open-ended income scheme)


Debt Instruments

Commercial Paper

Certificate of Deposits

Bank Deposits

Cash 'n' Call, Current Assets & Receivables 2737.11



ARCH PHARMALABS A1 5000.00


RAMSARUP INDUSTRIES PR1 4000.00










RAYMOND PR1+ 570.64


I D B I BANK A1+ 4844.20


I D B I BANK P1+ 1572.48

BANK OF INDIA 10000.00

TOTAL FUND Rs. 80233.71 Lakh(as on 31/03/2009) :

Last 1 year 7.88%Last 3 years 7.02%Since Inception 5.78%

Benchmark (C Fund ~LX) Return 8.80%

ANNUALISED RETURNS


Holdings Rating Mkt. Value

(Rs. lakhs)

DIVIDEND DECLARED (Dividend Option)

Jul-03 0.0500Aug-03 0.0500Sep-03 0.0350Oct-03 0.0350Nov-03 0.0350Dec-03 0.0317Jan-04 0.0293Feb-04 0.0275Apr-04 0.0306May-04 0.0373Jun-04 0.0353Jul-04 0.0391Aug-04 0.0389Sep-04 0.0389Oct-04 0.0389Nov-04 0.0389Dec-04 0.0350Jan-05 0.0250Feb-05 0.0100Mar-05 0.0458Apr-05 0.0458May-05 0.0458Jun-05 0.0458Jul-05 0.0458Aug-05 0.0458Sep-05 0.0350Oct-05 0.0400Nov-05 0.04162Dec-05 0.04167Jan-06 0.04167Feb-06 0.04167Mar-06 0.01400672Apr-06 0.04167000May-06 0.04167000

Month Gross Div. (%)Month Gross Div. (%)Jun-06 0.05000000Jul-06 0.05000000Aug-06 0.05000000Sep-06 0.05000000Oct-06 0.05000000Nov-06 0.05000000Dec-06 0.03000000Jan-07 0.07000000Feb-07 0.04000000Mar-07 0.08000000Apr-07 NilMay-07 NilJun-07 0.02000000Jul-07 0.02000000Aug-07 0.04000000Sep-07 0.05000000Oct-07 0.09000000Nov-07 0.07520000Dec-07 0.09680000Jan-08 0.09670000Feb-08 0.10240000Mar-08 0.07810000Apr-08 0.06460000May-08 0.06340000Jun-08 0.03380000Jul-08 0.01930000Aug-08 0.07390000Sep-08 0.07160000Oct-08 0.04880000Nov-08 0.06650000Dec-08 0.01030000Jan-09 0.55670000Feb-09 0.06320000Mar-09 0.06970000


GROSS DIVIDEND DECLARED (Rs. Per Unit)

Last 1 year 9.80%

Last 3 year 8.81%





LICMF BALANCED FUNDAn Open-ended Balanced Scheme



Bonds / Debentures

Commercial Paper


Bank Depost



RELIANCE CAPITAL A1+ 4541.56INDIABULLS FINANCIAL SERVICES P1+ 4506.95TATA MOTORS A1+ 4505.73FIRST LEASING PR1+ 2703.44TELEVISION EIGHTEEN F1 1415.31IDFC A1+ 978.21TELEVISION EIGHTEEN A1+ 951.29DLF A1+ 740.06

I D B I BANK A1+ 4844.20VYSYA BANK P1+ 4819.76


TOTAL FUND : Rs. Lakh(as on 31/03/2009) 2443.77


Debt

TOTAL - DEBT 1189.54


RURAL ELECTRIFICATION CORPORATION AAA 96.65GSEC 6.05% 02/02/2019 AAA 93.24ALOK INDUSTRIES PR1 300.00IL&FS INVESTSMART F1(SO) 299.65RELIANCE CAPITAL A1+ 200.00BAJAJ HINDUSTAN F1 200.00


NAV (Rs.) as on 31/03/2009 : Dividend: 8.1817; Growth: 38.7092

Last 1 yearLast 3 yearsSince Inception 5.

-23.37%-3.25%

31%


ANNUALISED RETURNS



Month DividendNov-04 3.50%Mar-05 8.50%Aug-05 10.00%Nov-05 7.50%Feb-06 8.50%Apr-06 17.00%Sep-06 10.00%Jan-07 15.00%Oct-07 15.00%

DIVIDEND HISTORY








Equity



N T P C 126.14




G A C L 71.30

POWER TRADING CORPORATION OF INDIA 69.35


UCO BANK 51.96

PUNJ LLOYD 45.58

L & T 33.63

PVR 29.66


S A I L 19.29



Jan-05 0.1250

May-05 0.0425

Jun-05 0.0377

Jul-05 0.0392

Aug-05 0.0490

Sep-05 0.0392

Oct-05 0.04687965

Nov-05 0.04059843

Dec-05 0.03919996

Jan-06 0.04899995

Feb-06 0.03919996

Mar-06 0.03919996

Apr-06 0.03919999

May-06 0.05522018

Jun-06 0.04748464

Jul-06 0.06431700

Aug-06 0.05345360

Sep-06 0.05495360

Oct-06 0.071817000

Nov-06 0.06095360

Dec-06 0.05386606

Jan-07 0.07841700

Feb-07 0.06585360

Mar-07 0.06555360

Apr-07 0.09231700

May-07 0.07105360

Jun-07 0.05555360

Jul-07 0.06071700

Aug-07 0.06475360

Sep-07 0.07391700

Oct-07 0.06845360

Nov-07 0.06515360

Dec-07 0.06975360

Jan-08 0.09361700

Feb-08 0.07255360

Mar-08 0.09801700

Apr-08 0.06945360

May-08 0.07005360

Jun-08 0.08871700

Jul-08 0.07485360

Aug-08 0.07655360

Sep-08 0.09821700

Oct-08 0.08135360

Nov-08 0.08115360

Dec-08 0.09231700

Jan-09 0.07085360

Feb-09 0.06962420

Mar-09 0.07181700

LICMF CHILDREN’S FUNDAn Open-ended Balanced Scheme for Children


NAV (Rs.) as on 31/03/2009 : 6.5737

Last 1 year

Last 3 years

Since inception (12/11/2001)

-50.75%

-21.96%

-5.47%

Benchmark ) Return Last 1 year(C BalanceEx -22.34%

ANNUALISED RETURNS




Equity

Total Equity 277.48Debt

Total Debt 0.00Commercial Paper/ Bank Deposits


R I L 53.31S B I 52.26ADLABS FILMS 30.51RELIANCE INFRASTRUCTURE 20.61I F C I 19.30ADANI ENTERPRISES 18.69RELIANCE CAPITAL 17.68JAIPRAKASH ASSOCIATES 16.84PROVOGUE (INDIA) 16.78KNR CONSTRUCTIONS 11.69GTC INDUSTRIES 8.11RELIANCE COMMUNICATION 6.98ORBIT CORPORATION 4.71RENAISSANCE JEWELLERY 0.01

Holdings Rating Mkt. Value (Rs. lakhs) Avg. Maturity (in month) : 0.00


Equity59.31%


ANNUALISED RETURNS

Money Mkt.,9.42%

Equity,41.90%Debt,

4 .8 68%

Money Mkt.%40.69

NAV (Rs.) as on 31/03/2009: Daily Dividend : 10.0000;Monthly Dividend: 10.0697; Weekly Divedend: 10.0025; Growth: 13.8716

P1,AA-- ,A+ orEquivalent1

1.69%

Money Market & Others34.47%

Bank Deposits23.83%


LICMF MONTHLY INCOME PLANAn Open-ended Monthly Income Scheme w.e.f. 01/06/2003


Last 1 year

Since Inception

-0.46%Last 3 years 5.56%

9.57%Benchmark (C MiPex) Return(Last 1 year) 0.50%

ANNUALISED RETURNS


Debt

TOTAL - DEBT 8555.04Commercial Paper / Bank DepositsCash 'n' Call, Current Assets & Receivables 822.13

GSEC 6.05% 02/02/2019 AAA 186.48ERA CONSTRUCTION F2+ 1620.38IL&FS INVESTSMART F1(SO) 1548.18BAJAJ HINDUSTAN F1 1500.00RELIANCE CAPITAL A1+ 1500.00FIRST LEASING PR1+ 1200.00ALOK INDUSTRIES PR1 1000.00

0.00


DIVIDEND DECLARED

Jun-03 Monthly 0.0500Jul-03 Monthly 0.0500Aug-03 Monthly 0.0500Sep-03 Monthly 0.0600Oct-03 Monthly 0.0700Nov-03 Monthly 0.0700Dec-03 Monthly 0.0800Jan-04 Monthly 0.0800Feb-04 Monthly 0.0850Mar-04 Monthly 0.0800Mar-04 Yearly 0.8500Apr-04 Monthly 0.0700May-04 Monthly 0.0585Jun-04 Monthly 0.0500Jul-04 Monthly 0.0550Aug-04 Monthly 0.0550Sep-04 Monthly 0.0550Sep-04 Quarterly 0.0500Oct-04 Monthly 0.0550Nov-04 Monthly 0.0550Dec-04 Monthly 0.0650Dec-04 Quarterly 0.1000Jan-05 Monthly 0.0650Feb-05 Monthly 0.0700Mar-05 Monthly 0.2500Mar-05 Quarterly 0.3000Mar-05 Yearly 0.9500Apr-05 Monthly 0.0550May-05 Monthly 0.0550Jun-05 Monthly 0.0700

Jun-05 Quarterly 0.1800Jul-05 Monthly 0.0900Aug-05 Monthly 0.0900Sep-05 Monthly 0.1400Sep-05 Quarterly 0.2200Oct-05 Monthly 0.0800Nov-05 Monthly 0.1000Dec-05 Monthly 0.1200Dec-05 Quarterly 0.3000Jan-06 Monthly 0.1500Feb-06 Monthly 0.1500Mar-06 Monthly 0.3000Mar-06 Quarterly 0.7000Mar-06 Yearly 1.4000Apr-06 Monthly 0.1500May-06 Monthly 0.1500Jun-06 Monthly 0.1200Jun-06 Quarterly 0.2000Jul-06 Monthly 0.1200Aug-06 Monthly 0.1200Sep-06 Monthly 0.1400Sep-06 Quarterly 0.4000Oct-06 Monthly 0.1400Nov-06 Monthly 0.1400Dec-06 Monthly 0.1200Dec-06 Quarterly 0.4000Jan-07 Monthly 0.1000Feb-07 Monthly NilMar-07 Monthly NilMar-07 Quarterly 0.1500

Month Frequency GrossDiv.(Rs/Unit)



Equity


N T P C 163.95


S B I 127.99



H D F C BANK 96.79


PETRONET LNG 77.70


L & T 60.54

B H E L 60.17

SUN PHARMACEUTICALS 55.62


R I L 45.70

H D F C 42.34

PUNJ LLOYD 31.90


INDIAN OVERSEAS BANK 11.38


LICMF FLOATER MIPAn Open-ended income Scheme

PLAN - A PORTFOLIO (as on 31/03/2009)

Equity

Bonds / Debenture

Commercial paper

Bank Deposits


N T P C 189.21


PETRONET LNG 58.28




L & T 33.63

PUNJ LLOYD 22.79


VOLTAS 16.15

RELIANCE PETROLEUM 6.66

INDIAN OVERSEAS BANK 4.55

GSEC 8.24% 2018 AAA 543.00

GSEC 6.05% 02/02/2019 AAA 466.20




IL&FS INVESTSMART F1(SO) 599.30


0.00

0.00

TOTAL FUND 31 3 : Rs. Lakh(as on /0 /2009) 4609.23

NAV (Rs.) as on 31/03/2009

9.8559; 10.1545;9.8880; Growth : 14.6143

Month Income : Yearly Income :

Quarterly :

TOTAL FUND 31 : Rs. 262.97 Lakhs(as on )/03/2009

DIVIDEND HISTORY

Month FrequencyGross Div. (Rs/Unit)

Plan A Plan B

Dec-04 Monthly 0.0500 0.0500Dec-04 Quarterly 0.0500 0.0250Jan-05 Monthly 0.0500 0.0500Feb-05 Monthly 0.0550 0.0500Mar-05 Monthly 0.0700 NilMar-05 Quarterly 0.1800 0.0850Mar-05 Yearly 0.2500 0.1100May-05 Monthly 0.0500 NilJun-05 Monthly 0.0600 0.0450Jun-05 Quarterly 0.1500 0.1000Jul-05 Monthly 0.0600 0.0450Aug-05 Monthly 0.0600 0.0450Sep-05 Monthly 0.1200 0.0900Sep-05 Quarterly 0.2100 0.2000Oct-05 Monthly 0.0300 0.0450Nov-05 Monthly 0.1000 0.0850Dec-05 Monthly 0.1200 0.0900Dec-05 Quarterly 0.2500 0.2000Jan-06 Monthly 0.1400 NilFeb-06 Monthly 0.1400 NilMar-06 Monthly 0.3100 0.2500Mar-06 Quarterly 0.5900 0.3500Mar-06 Yearly 1.2000 0.8500Apr-06 Monthly 0.1000 0.0700May-06 Monthly 0.0300 0.0500Jun-06 Monthly Nil NilJun-06 Quarterly 0.2100 0.2000Jul-06 Monthly 0.1000 0.0200Aug-06 Monthly 0.1000 0.1200Sep-06 Monthly 0.1400 0.0700Sep-06 Quarterly 0.2600 0.3000Oct-06 Monthly 0.1000 0.0600Nov-06 Monthly 0.1300 0.0500Dec-06 Monthly 0.1500 NilDec-06 Quarterly 0.3800 0.1000Jan-07 Monthly 0.1400 NilFeb-07 Monthly Nil NilMar-07 Monthly Nil 0.0500Mar-07 Quarterly 0.2000 0.0500Mar-07 Yearly 0.9000 0.5000Apr-07 Monthly 0.1000 0.0400May-07 Monthly 0.1000 0.0700Jun-07 Monthly 0.1500 0.1000Jun-07 Quarterly 0.2500 0.2000Jul-07 Monthly 0.1000 0.1000Aug-07 Monthly 0.1000 0.0700Sep-07 Monthly 0.1000 0.0600Sep-07 Quarterly 0.3000 0.3000Oct-07 Monthly 0.1500 0.0500Nov-07 Monthly 0.2000 0.1000Dec-07 Monthly 0.2000 0.1000Dec-07 Quarterly 0.5000 0.2500Jan-08 Monthly 0.1000 0.2500Feb-08 Monthly 0.1500 0.3000Mar-08 Monthly 0.0000 0.0000Mar-08 Quarterly 0.3500 0.0000Mar-08 Yearly 1.6000 0.4000Apr-08 Monthly 0.0000 0.0000May-08 Monthly 0.0000 0.0000Jun-08 Monthly 0.0000 0.0000Jun-08 Quarterly 0.0000 0.0000Jul-08 Monthly 0.0000 0.0000Aug-08 Monthly 0.0000 0.0000Sep-08 Monthly 0.0700 0.0000Sep-08 Quarterly 0.2000 0.0000Oct-08 Monthly 0.0000 0.0000Nov-08 Monthly 0.0000 0.0000Dec-08 Monthly 0.0000 0.0000Jan-09 Monthly 0.0000 0.0000Feb-09 Monthly 0.0000 0.0000Mar-09 Monthly 0.0000 0.0000

Last 1 year 0.48%

Last 3 years 6.83%


Benchmark (C MiPex) Return - last 1 year 0.50%

ANNUALISED RETURNS


ANNUALISED RETURNS


NAV (Rs.) as on 31/03/2009

9.3846; 10.1077;

9.7076; 12.0753

Month Income : Yearly Income :

Quarterly : Growth :






TOTAL FUND 31 3 : Rs. 10770.78 Lakh(as on /0 /2009)

NAV (Rs.) as on 31/03/2009Monthly Income : Yearly Income :

Quarterly : Growth :

9.7197; 10.0241;

9.8006; 27.1440




Avg. Maturity (in months) : 47.70

Avg. Duration (in ) : .months 42 93

Avg. Maturity (in ) : 1.

Avg. Duration (in ) : 1.

month 33

month 20

PLAN - B PORTFOLIO (as on 31/03/2009)

Equity

Bonds/Debentures

Bank Deposits





(Rs. Lakhs)

Category Exposure % Exposure %(Rs. Lakh) Contribution (Rs. Lakh) Contribution

Plan A Plan B

Total 4609.23 100.00% 262.97 100.00%

Equity 618.02 13.41% 0.00 0.00%Debt 3658.45 79.37% 79.95 30.40%Money Mkt. 332.76 7.22% 183.02 69.60%

LICMF INDIA VISION FUNDA 36 months Close ended Equity Fund with an automatic conversion into

an Open ended scheme on expiry of 36 months from the date of allotment (15/01/2007).

TOTAL FUND 31 3 : Rs. 7234.44 Lakh(as on /0 /2009)



Equity


S B I 472.48



INFOSYS TECHNOLOGIES 331.03

N T P C 319.38





APOLLO HOSIPTALS & ENTERPRISES 204.10

L & T 168.16

B H E L 150.44

SUN PHARMACEUTICALS 111.24


PUNJ LLOYD 91.15

TV TODAY NETWORK 79.08

PETRONET LNG 77.70

INDO TECH TRANSFORMERS 74.95




YES BANK 37.43

PVR 36.02

S A I L 24.11

VOLTAS 13.85

J K CORP 10.80

PROVOGUE (INDIA) 0.36


RURAL ELECTRICIFICATION CORPORATION AAA 483.26


0.00

TOTAL-EQUITY 4645.92

Debt

TOTAL-DEBT 732.97

Commercial Paper/Bank Deposits


Holdings Mkt. Value (Rs. Lakhs)


Category Exposure (Rs. Lakh) % ContributionEquity 1393.61 12.94%Debt 8555.04 79.43%Money Mkt. 822.13 7.63%Total 10770.78 100.00%

Last 1 year

Since Inception -22.80%

-48.99%

Benchmark (BSE 200) Return Last 1 year -40.98%

ANNUALISED RETURNS


Mar-07 Yearly 0.9000Apr-07 Monthly 0.0700May-07 Monthly 0.1000Jun-07 Monthly 0.0800Jun-07 Quarterly 0.2000Jul-07 Monthly 0.1200Aug-07 Monthly 0.1200Sep-07 Monthly 0.1200Sep-07 Quarterly 0.3500Oct-07 Monthly 0.1800

Nov-07 Monthly 0.2000Dec-07 Monthly 0.2000Dec-07 Quarterly 0.5000Jan-08 Monthly 0.2500Feb-08 Monthly 0.0700Mar-08 Monthly 0.0000Mar-08 Quarterly 0.2000Mar-08 Yearly 1.6000Apr-08 Monthly 0.0000May-08 Monthly 0.0000Jun-08 Monthly 0.0000Jul-08 Monthly 0.0000Aug-08 Monthly 0.0000Spet-08 Monthly 0.0000Sep-08 Quarterly 0.1500Oct-08 Monthly 0.0000Nov-08 Monthly 0.0000Dec-08 Monthly 0.0000Jan-09 Monthly 0.0000Feb-09 Monthly 0.0000Mar-09 Monthly 0.0000

Last 1 year 0.48%Last 3 years 2.47%Since Inception 4.31%Benchmark (C MiPex) Return - last 1 year 0.50%


LICMF FLOATING RATE FUND - STPAn Open-ended Income Fund


TOTAL FUND : Rs. 83941.05 Lakhs(as on 31/03/2009)

LICMF SAVINGS PLUS FUND(An open-ended income scheme)


Debt Instruments

Commercial Paper

Certificate of Deposits

Bank Deposits




ARCH PHARMALABS A1 5000.00


RAMSARUP INDUSTRIES PR1 4000.00










RAYMOND PR1+ 570.64


I D B I BANK A1+ 4844.20


I D B I BANK P1+ 1572.48


TOTAL FUND Rs. 80233.71 Lakh(as on 31/03/2009) :

Last 1 year 7.88%Last 3 years 7.02%Since Inception 5.78%


ANNUALISED RETURNS



(Rs. lakhs)

DIVIDEND DECLARED (Dividend Option)

Jul-03 0.0500Aug-03 0.0500Sep-03 0.0350Oct-03 0.0350Nov-03 0.0350Dec-03 0.0317Jan-04 0.0293Feb-04 0.0275Apr-04 0.0306May-04 0.0373Jun-04 0.0353Jul-04 0.0391Aug-04 0.0389Sep-04 0.0389Oct-04 0.0389Nov-04 0.0389Dec-04 0.0350Jan-05 0.0250Feb-05 0.0100Mar-05 0.0458Apr-05 0.0458May-05 0.0458Jun-05 0.0458Jul-05 0.0458Aug-05 0.0458Sep-05 0.0350Oct-05 0.0400Nov-05 0.04162Dec-05 0.04167Jan-06 0.04167Feb-06 0.04167Mar-06 0.01400672Apr-06 0.04167000May-06 0.04167000

Month Gross Div. (%)Month Gross Div. (%)Jun-06 0.05000000Jul-06 0.05000000Aug-06 0.05000000Sep-06 0.05000000Oct-06 0.05000000Nov-06 0.05000000Dec-06 0.03000000Jan-07 0.07000000Feb-07 0.04000000Mar-07 0.08000000Apr-07 NilMay-07 NilJun-07 0.02000000Jul-07 0.02000000Aug-07 0.04000000Sep-07 0.05000000Oct-07 0.09000000Nov-07 0.07520000Dec-07 0.09680000Jan-08 0.09670000Feb-08 0.10240000Mar-08 0.07810000Apr-08 0.06460000May-08 0.06340000Jun-08 0.03380000Jul-08 0.01930000Aug-08 0.07390000Sep-08 0.07160000Oct-08 0.04880000Nov-08 0.06650000Dec-08 0.01030000Jan-09 0.55670000Feb-09 0.06320000Mar-09 0.06970000


GROSS DIVIDEND DECLARED (Rs. Per Unit)

Last 1 year 9.80%

Last 3 year 8.81%





LICMF BALANCED FUNDAn Open-ended Balanced Scheme



Bonds / Debentures

Commercial Paper


Bank Depost



RELIANCE CAPITAL A1+ 4541.56INDIABULLS FINANCIAL SERVICES P1+ 4506.95TATA MOTORS A1+ 4505.73FIRST LEASING PR1+ 2703.44TELEVISION EIGHTEEN F1 1415.31IDFC A1+ 978.21TELEVISION EIGHTEEN A1+ 951.29DLF A1+ 740.06

I D B I BANK A1+ 4844.20VYSYA BANK P1+ 4819.76




Debt

TOTAL - DEBT 1189.54


RURAL ELECTRIFICATION CORPORATION AAA 96.65GSEC 6.05% 02/02/2019 AAA 93.24ALOK INDUSTRIES PR1 300.00IL&FS INVESTSMART F1(SO) 299.65RELIANCE CAPITAL A1+ 200.00BAJAJ HINDUSTAN F1 200.00


NAV (Rs.) as on 31/03/2009 : Dividend: 8.1817; Growth: 38.7092

Last 1 yearLast 3 yearsSince Inception 5.

-23.37%-3.25%

31%


ANNUALISED RETURNS



Month DividendNov-04 3.50%Mar-05 8.50%Aug-05 10.00%Nov-05 7.50%Feb-06 8.50%Apr-06 17.00%Sep-06 10.00%Jan-07 15.00%Oct-07 15.00%

DIVIDEND HISTORY








Equity



N T P C 126.14




G A C L 71.30



UCO BANK 51.96

PUNJ LLOYD 45.58

L & T 33.63

PVR 29.66


S A I L 19.29



Jan-05 0.1250

May-05 0.0425

Jun-05 0.0377

Jul-05 0.0392

Aug-05 0.0490

Sep-05 0.0392

Oct-05 0.04687965

Nov-05 0.04059843

Dec-05 0.03919996

Jan-06 0.04899995

Feb-06 0.03919996

Mar-06 0.03919996

Apr-06 0.03919999

May-06 0.05522018

Jun-06 0.04748464

Jul-06 0.06431700

Aug-06 0.05345360

Sep-06 0.05495360

Oct-06 0.071817000

Nov-06 0.06095360

Dec-06 0.05386606

Jan-07 0.07841700

Feb-07 0.06585360

Mar-07 0.06555360

Apr-07 0.09231700

May-07 0.07105360

Jun-07 0.05555360

Jul-07 0.06071700

Aug-07 0.06475360

Sep-07 0.07391700

Oct-07 0.06845360

Nov-07 0.06515360

Dec-07 0.06975360

Jan-08 0.09361700

Feb-08 0.07255360

Mar-08 0.09801700

Apr-08 0.06945360

May-08 0.07005360

Jun-08 0.08871700

Jul-08 0.07485360

Aug-08 0.07655360

Sep-08 0.09821700

Oct-08 0.08135360

Nov-08 0.08115360

Dec-08 0.09231700

Jan-09 0.07085360

Feb-09 0.06962420

Mar-09 0.07181700

LICMF CHILDREN’S FUNDAn Open-ended Balanced Scheme for Children


NAV (Rs.) as on 31/03/2009 : 6.5737

Last 1 year

Last 3 years

Since inception (12/11/2001)

-50.75%

-21.96%

-5.47%

Benchmark ) Return Last 1 year(C BalanceEx -22.34%

ANNUALISED RETURNS




Equity

Total Equity 277.48Debt

Total Debt 0.00Commercial Paper/ Bank Deposits


R I L 53.31S B I 52.26ADLABS FILMS 30.51RELIANCE INFRASTRUCTURE 20.61I F C I 19.30ADANI ENTERPRISES 18.69RELIANCE CAPITAL 17.68JAIPRAKASH ASSOCIATES 16.84PROVOGUE (INDIA) 16.78KNR CONSTRUCTIONS 11.69GTC INDUSTRIES 8.11RELIANCE COMMUNICATION 6.98ORBIT CORPORATION 4.71RENAISSANCE JEWELLERY 0.01

Holdings Rating Mkt. Value (Rs. lakhs) Avg. Maturity (in month) : 0.00


Equity59.31%


ANNUALISED RETURNS

Money Mkt.,9.42%

Equity,41.90%Debt,

4 .8 68%

Money Mkt.%40.69

NAV (Rs.) as on 31/03/2009: Daily Dividend : 10.0000;Monthly Dividend: 10.0697; Weekly Divedend: 10.0025; Growth: 13.8716

P1,AA-- ,A+ orEquivalent1

1.69%

Money Market & Others34.47%

Bank Deposits23.83%


LICMF BOND FUNDAn Open-ended Debt Scheme

LICMF LIQUID FUNDAn Open-ended Liquid Scheme


Bonds / Debentures

Commercial Papers


NHB HDFC AAA 12597.50


I R F C AAA 9166.92


P F C AAA 2491.25

H D F C AAA 1568.55

TGS INVESTMENT & TRADE A1+ 30000.00

REI AGRO PR1 28900.00





BIRLA TMT HOLDING P1+ 10000.00

JINDAL STEEL & POWER A1+ 10000.00

GENUS POWER INFRA F1 8800.00






ORIENT PAPERS & INDUSTRIES A1+ 5000.00

DEWAN HOUSING FINANCE AA+ 5000.00


EURO CERAMICS PR1+ 4000.00



COX AND KINGS PR1+ 3500.00


VALECHA ENGINEERING PR1 2500.00

FIRST LEASING PR1 1498.77


HINDUSTTHAN NATIONAL GLASS & INDS PR1+ 1320.00





PMT MACHINES LTD PR1 400.00







ICICI HOME FINANCE COMPANY A1+ 18146.02

SHRIRAM TRANSPORT FINANCE F1+ 17981.21

MAGMA FINCORP PR1+ 13695.38

TATA MOTORS A1+ 13605.45

BHUSHAN STEEL & STRIPS PR1+ 9157.53

MERCATOR LINES PR1+ 9095.66

FIRST LEASING PR1+ 9012.82

TATA CAPITAL LTD A1+ 8937.90

IL&FS INVESTSMART F1+ 8916.12

TELEVISION EIGHTEEN A1+ 8629.33



ESSAR SHIPPING PORTS & LOGISTICS F1 6626.75

FUTURE CAPITAL HOLDINGS P1 5630.79

KALPATARU POWER TRANSMISSION PR1+ 4770.72

RELIGARE SECURITIES P1 4542.47


PATEL ENGINEERING PR1+ 4485.57

ORIX AUTO INFRASTRUCTURE SERVICES PR1+ 4465.60

ABG SHIPYARD PR1+ 4397.06

RAYMOND PR1+ 3922.61


ORIENTAL BANK OF COMMERCE P1+ 9250.93

EXIM AAA 9248.24

ANDHRA BANK F1+ 9247.44

I D B I BANK P1+ 7663.69


Last 1 yearLast 3 yearSince Inception (18.03.2002)

9.23%8.28%6.96%

Benchmark © Fund ~LX) Return (Last 1 year) 8.80%

ANNUALISED RETURNS





TOTAL FUND : Rs. 1102275.31Lakh(as on 31 )/03/2009



DIVIDEND HISTORY

Mar-02 0.0204May-02 0.0472Oct-03 0.0400Nov-03 0.0337Dec-03 0.0421Jan-04 0.0327Feb-04 0.0335Mar-04 0.0298Apr-04 0.0329May-04 0.0368Jun-04 0.0285Jul-04 0.0145Aug-04 0.0417Sep-04 0.0339Oct-04 0.0333Nov-04 0.0448Dec-04 0.0348Jan-05 0.0461Feb-05 0.0400Mar-05 0.0422Apr-05 0.03933992May-05 0.04240000Jun-05 0.04089337Jul-05 0.04210000Aug-05 0.04250000Sep-05 0.04100000Oct-05 0.04455476Nov-05 0.04749685Dec-05 0.04943670Jan-06 0.05202764Feb-06 0.04836850Mar-06 0.07196284Apr-06 0.05065708May-06 0.05328228



Jun-06 0.05243226Jul-06 0.05969500Aug-06 0.06310000Sep-06 0.06340000Oct-06 0.06860000Nov-06 0.06750000Dec-06 0.06280627Jan-07 0.07300000Feb-07 0.06420000Mar-07 0.07660000Apr-07 0.07970000May-07 0.07980000

Jun-07 0.06120000Jul-07 0.05370000Aug-07 0.06730000Sep-07 0.06430000Oct-07 0.06980000Nov-07 0.07360000Dec-07 0.07930000Jan-08 0.07750000Feb-08 0.07470000Mar-08 0.07973000Apr-08 0.07280000May-08 0.07830000Jun-08 0.08110000Jul-08 0.08440000Aug-08 0.08610000Sep-08 0.08700000Oct-08 0.09810000Nov-08 0.08640000Dec-08 0.08750000Jan-09 0.07920000Feb-09 0.08620000Mar-09 0.06830000

Month Gross DividendMonth Gross Dividend

UNITED BANK OF INDIA A1+ 4855.43

I D B I BANK A1+ 4844.20

CANARA BANK P1+ 4608.93

VYSYA BANK 20000.00

H D F C BANK 18800.00

CENTRAL BANK OF INDIA 13100.00

FEDERAL BANK 7500.00

AXIS BANK 2500.00


Bank Deposits





DIVIDEND HISTORY

Last 1 yearLast 3 years .Since inception (09.05.1999) 9.

11.54%8 57%

29%

Benchmark (C CompBex) Return (Last 1 year) 7.26%

ANNUALISED RETURNS

PORTFOLIO RATING ANALYSIS



DEBT

COMMERCIAL PAPER/ BANK DEPOSIT


I O C L AA+ 1161.59


T I S C O AA 877.06

S A I L AAA(SO) 536.94

GSEC 8.33% 2036 AAA 530.20

H U D C O AA 524.81

CITI BANK AAA 515.30

JET AIRWAYS (JUS TRUST PTC) AAA(SO) 400.62

R I L AAA 207.86

BOB HOUSING FINANCE(PTC NHB) AAA(SO) 96.83

DEVELOMENT CREDIT BANK A- 1154.11

I R F C AAA 1105.25

ANDHRA BANK PTC (NHB) AAA(SO) 59.44


LICMF G-SEC FUNDAn Open-ended Gilt Scheme


GSEC 7.95%2032 AAA 5070.00

GSEC 7.95% 2032 AAA 4056.00


GSEC 8.33% 2036 AAA 2120.80

GSEC 8.24% .2027 AAA 459.89

Commercial Paper / Bank Deposit



Last 1 year

Last 3 years

Since inception (29.11.1999)

6.65%

5.68%

8.49%

Benchmark (I Sec Composite Gilt) Return

Last 1 year 12.97%

ANNUALISED RETURNS


NAV (Rs.) as on / /20010.5462 21.5971;

12.4538; 12.4538

31 03 9Reg.: ; Reg.Gr.:

PF-Div. PF-Gr. :

Securities Mkt. Value (Rs. Lakhs)Rating DIVIDEND HISTORY


Mar-00 2.50%

May-00 2.50%

Nov-00 2.50%

Mar-01 3.50%

Jul-01 3.00%

Nov-01 3.50%

Mar-02 7.00%

Jul-02 3.00%

Oct-02 3.50%

Jan-03 4.00%

Apr-03 4.00%

Jun-03 3.50%

Sep-03 3.50%

Dec-03 3.00%

Mar-04 3.00%

Jun-04 0.75%

Sep-04 0.50%

Mar-09 2.00%



Oct-99 4.00%Mar-00 4.50%May-00 3.00%Nov-00 3.50%Mar-01 4.50%Jul-01 4.00%Nov-01 3.50%Mar-02 3.50%Jul-02 3.00%Oct-02 3.00%Jan-03 3.00%Jun-03 2.25%Sep-03 2.25%Dec-03 2.00%Mar-04 1.50%Jun-04 1.00%Sep-04 0.50%Dec-04 1.00%

Mar-05 1.50%Jul-05 1.50%Oct-05 1.00%Jan-06 1.00%Mar-06 1.00%Jul-06 2.00%Oct-06 4.00%Jan-07 1.00%Mar-07 1.00%Jul-07 2.50%Oct-07 2.50%Jan-08 2.00%Mar-08 1.50%Jul-08 1.50%Oct-08 1.50%Jan-09 2.00%Mar-09 2.50%





AAA (SO)12.20%


Money Market & Other22.07%

AA, AA-, A, PR1+(SO)& Others28.51%

AAA37.09%

AA+12.96%

Money Market9.25%

P1, , A+AA-- orEquivalent12.54%

Bank Deposits5.66%


SNAPSHOT

31st January 2005

The investment objective of the scheme isto provide capital growth in long-term withreasonable risk levels by investing mainlyin companies which are in sector/s, whichhave a high growth potential at that pointto time.


Dividend / Growth


Nil

Rs. 5000/-




Available

1st January 1997

To provide capital growth alongwithtax rebate and tax relief u/s 80 C toour investors through PrudentInvestments in the stock market.

ELSS

Dividend / Growth

2.25%

Nil

Rs. 500/-




Available

21st September 2004

Debt

Plan A / Plan B

Monthly Div. / Quarterly Div. / Yearly Div. /Growth

Nil

For application size upto 25 lakh: 0.5% if exit within6 months from the date of investment.For application size > 25 lakh: 0.25% if exit within3 months from the date of Investment.

Rs. 25000 for Monthly Div. / Rs. 15000 forQuarterly Div. / Rs. 10000 for yearlyDiv. / Rs. 5000 for Growth




Available

The investment objective of the scheme is togenerate regular income by investing mainly infloating rate instruments / fixed rate instrumentsswapped for floating rate return so as to minimisethe interest rate risk and at the same time aiming atgenerating capital appreciation in a long term byinvesting in equity / equity related instruments.

14th November 02

To provide capitalgrowth by investing in index stocks.

Equity - Index

Sensex / Nifty / Sensex Advantage

Dividend / Growth


Nil

Rs. 2000/-




Available

16th April 98

To obtain maximum possible maximumpossible growth consistent withreasonable levels of safety and securityby investing mainly in equities.


Dividend / Growth


Nil

Rs. 2000/-




Available

1st January 91

To provide regular returns & capitalappreciation according to the slection of theplan by investing in equities & debt.

Balanced

Dividend / Growth


Nil

Rs. 1000/-




Available

Index Fund Growth Fund Balanced Fund Equity Fund

Opportunities Fund Tax Plan Floater MIP

SIP: SWP: STP: AWOCA:Note :

Systematic Investment Plan; Systematic Withdrawal Plan; Systematic Transfer Plan; Automatic Withdrawal of Capital AppreciationSWP & AWOCA are available under growth options only.

1st September 99

To provide capital growth by investingin a mix of equity instruments.


Dividend / Growth


Nil

Rs. 2000/-




Available

LICMF EQUITY FUNDAn Open-ended Equity Scheme

LICMF OPPORTUNITIES FUNDAn Open-ended Growth Scheme







Last 1 year

Since Inception

-38.11%Last 3 year -10.85%

2.10%Benchmark (BSE-200) Return Last 1 year -40.98%

ANNUALISED RETURNS


DIVIDEND HISTORYMonth DividendFeb-06 20.00%Oct-06 25.00%Nov-07 30.00%

Income Plus Fund

28th May 2007

To provide reasonable possible currentincome - consistent with preservationof capital & providing liquidity frominvesting in a diversified portfolio ofShort-Term Money Market & Debtsecurities.

Debt

Dividend Frequency :Daily / Weekly / Monthly

Dividend / Growth

Nil

Nil

Rs.5,00,000/-



STP

Available


Equity

L & T 336.33 6.34%

S B I 319.97 6.03%

TATA POWER 191.33 3.60%


H D F C 183.46 3.46%

N T P C 180.20 3.40%

I C I C I BANK 166.30 3.13%

POWER FINANCE CORPORATION 159.28 3.00%


O N G C 148.14 2.79%

H D F C BANK 145.18 2.74%




R I L 121.86 2.30%

A C C 115.33 2.17%

POWER GRID CORPORATION OF INDIA 114.78 2.16%

B H E L 105.30 1.98%


CONCOR 85.94 1.62%

POWER TRADING CORPORATION OF INDIA 76.29 1.44%

PUNJ LLOYD 72.92 1.37%

RELIANCE COMMUNICATION 69.84 1.32%


S A I L 53.36 1.01%


ABAN OFFSHORE 27.98 0.53%

T I S C O 20.60 0.39%


IDEA CELLULAR 5.02 0.09%


Total - Equity 3645.42 68.68%

Debt 0.00

Total - Debt 0.00 0.00%


An Open-ended Equity Scheme





DIVIDEND HISTORY

Month DividendMar-04 12.00%Mar-05 10.00%Nov-05 20.00%Oct-06 25.00%Nov-07 50.00%

Expense Ratio (as on ) : %31/03/2009 0.89


Equity


S B I 373.48 5.85%

L & T 371.89 5.82%



I C I C I BANK 329.27 5.16%

N T P C 320.74 5.02%






SUN PHARMACEUTICALS 122.57 1.92%

TATA POWER 114.80 1.80%

KOTAK MAHINDRA BANK 113.18 1.77%

I F C I 96.50 1.51%

RELIGARE ENTERPRISES 81.88 1.28%


H D F C 70.56 1.10%

I O C L 58.10 0.91%

TATA MOTORS 56.69 0.89%

PROVOGUE (INDIA) 49.91 0.78%

H D F C BANK 48.39 0.76%

PAREKH ALUMINEX 46.19 0.72%

AXIS BANK 41.45 0.65%

M & M 38.32 0.60%

ALPHAGEO INDIA 13.58 0.21%



Debt 0.00 0.00%

Total Debt 0.00 0.00%


ANNUALISED RETURNS


Last 1 year -35.59%Last 3 years -10.01%Since Inception 5.38%Benchmark (Sensex) Return Last 1 year -37.94%


SCHEMES

26th March 99

To generate attractive returns forour investors by investing in qualitydebt securities and money marketinstruments.

Debt

Nil

1% if exit within 1 year forInvestment 1 Cr;

Nil for Investment > 1 Cr

Rs. 5000/-



Available

Dividend / Growth


<

15th November 99

To generate steady and consistentreturns for our investors by timingthe government securities market.

Debt - Gilt

PF / Regular

Investment upto 1 crore : 1.25%

Nil

1% if Exit within 365 daysfrom the date of allotment

Regular Plan: Rs. 5,000/-PF Plan: Rs. 10000/-

Dividend / Growth

Investment above 1 crore : Nil

Nil




Available

Regular Plan

PF Plan :

Regular Plan

PF Plan :

26th September 01

To generate long term capitalappreciation through judiciousmix of quality debt & equityinstrument at moderate risklevels through research basedinvestments.

Balanced

Nil

1% if exit within 3 years fromthe date of investment; Nil if exitafter 3 years from the date ofinvestment

Rs. 5000/-

Growth




Available

29th May 03

To generate income by investing ina portfolio of quality short termdebt securities.

Debt - Short Term

Nil

Nil

Rs. 5000/-

Dividend / Growth




Available

Bond Fund G-Sec Fund Savings Plus Fund Children’s Fund

11th March 02

To generate reasonable returnswith low risk and high liquiditythrough judicious mix of investmentin money market and quality debtinstruments

Debt - Liquid

Dividend / Growth

Nil

Nil

Rs. 25000/-


On all days

STP

Available

1st June / 03

To generate regular income byinvesting mainly in quality debt andmoney market instruments withsome portion in equity/equityrelated instruments for long termcapital appreciation.

Debt

Monthly Div./Quarterly Div.Yearly Div./Growth

Nil

0.5% for investments25 lakhs for 6 months;

0.25% for investment> 25 lakhs for 3 months.

Rs. 25000/- for MonthlyOption; Rs.15000/- for QuarterlyOption; Rs.10000/- for YearlyOption; Rs.5000/- for Growth Option.




Available

<

15th March 2004

To generate consistent returnsby investing mainly in floatingrate instruments/fixed rateinstruments swapped for floatingrate return so as to minimise theinterest rate risk for the investor.

Debt - Floating

Dividend / Growth

Nil

Nil

Rs. 5,000/- and thereafter inmultiples of Rs. 500/-.


On all days


Available

19th June 89

To generate long term capitalappreciation and offer Tax rebate u/s80 C as well as additional benefits ofa life & insurance cover free accidentinsurance cover.

Insurance linked tax saving

Single Premium-5/10 year termRegular Contribution-10/15 year term

Dividend Re-investment

2.25%

Nil

Rs. 10000/- under Single PremiumRs. 1000/- under Regular Premium-yearly option, Rs. 500/- underRegular Premium - monthly option



SIP / STP

Available

Liquid Fund Monthly Income Plan Unit Linked Insurance Scheme Floating Rate Fund - STP

Launch Date

Objective

Type

Plans

Options

Entry Load

Exit Load

Minimum Investment

Liquidity

NAV Declaration

Special Facilities

Nomination

Launch Date

Objective

Type

Plans

Options

Entry Load

Exit Load

Minimum Investment

Liquidity

NAV Declaration

Special Facilities

Nomination

LICMF INDEX FUNDAn Open-ended Index Linked Equity Scheme

Equity

TotalEquity 9590.06Cash‘n’Call, Current Assets & Receivables 259.31

RIL 1216.29ONGC 845.15NTPC 751.62BHARTITELEVENTURE 602.84INFOSYSTECHNOLOGIES 383.80BHEL 375.02ITC 354.09SBI 343.95TATACONSULTANCYSERVICES 266.50HUL 262.94RELIANCEPETROLEUM 217.57HDFCBANK 209.37POWERGRIDCORPORATIONOFINDIA 205.08HDFC 204.25SAIL 202.67L&T 198.72ICICIBANK 188.36RELIANCECOMMUNICATION 183.35WIPRO 181.61CAIRNINDIA 177.70GAIL 157.03DLF 144.37STERLITEINDUSTRIES 127.77RELIANCEPOWERLTD 124.82SUNPHARMACEUTICALS 116.45MUL 113.61HEROHONDAMOTORS 107.99CIPLA 87.71TATAPOWER 85.61IDEACELLULAR 79.03TISCO 75.77AXISBANK 75.47VSNL 74.46GRASIMINDUSTRIES 73.66NALCO 70.88BPCL 68.43PUNJABNATIONALBANK 65.59RELIANCEINFRASTRUCTURE 60.90ACC 54.41GACL 54.18M&M 49.04ABB 46.18SIEMENS 44.81RELIANCECAPITAL 44.76HINDALCO 44.39TATAMOTORS 41.32RANBAXYLABORATORIES 35.61HCLTECHNOLOGIES 34.41SUZLONENERGY 31.50UNITECH 29.00

NIFTY PLAN - PORTFOLIO (as on )31/03/2009

TOTAL FUND / : Rs. 9849.37 Lakh(as on 31/03 2009)



(Last 1 year)

-37.82%-7.77%10.68%

Benchmark NSE - Nifty Return -36.19%

ANNUALISED RETURNS

EquityRIL 394.77INFOSYSTECHNOLOGIES 214.90ITC 162.71BHARTITELEVENTURE 136.82ICICIBANK 123.44L&T 118.00HDFCBANK 116.55HDFC 113.69ONGC 111.15SBI 101.52HUL 86.55BHEL 85.97NTPC 74.37TATACONSULTANCYSERVICES 43.99RELIANCECOMMUNICATION 42.06TATAPOWER 39.51MUL 37.24GRASIMINDUSTRIES 36.14TISCO 35.18







Last 1 yearsLast 3 yearsSince Inception

-41.87%-7.35%12.17%

Benchmark BSE - Sensex Return (Last 1 years) -37.94%

ANNUALISED RETURNS

SENSEX ADVT. PLAN PORTFOLIO (as on 31/03/2009)

Month Dividend (%)Nifty Sensex Sensex Advt.

Nov-03 13 13 15Jan-04 16 15 17Aug-05 25Nov-05 40Jan-06 50Feb-06 50Nov-06 50Feb-07 50Mar-07 20 20Mar-08 20 15










-37.72%-11.50%11.16%

Benchmark BSE - Sensex Return (Last 1 year) -37.94%

ANNUALISED RETURNS

DIVIDEND HISTORY


Holdings Mkt. Value (Rs. lakhs)Equtiy

Total Equity 315.02


RIL 46.63

INFOSYSTECHNOLOGIES 23.93

AXISBANK 20.73

ITC 18.13

BHARATELECTRONICS 17.66

BHARTITELEVENTURE 17.36

ICICIBANK 13.73

L&T 13.12

HDFC 12.56

ONGC 12.45

SBI 11.45

HDFCBANK 10.99

HUL 9.82

BHEL 9.64

NTPC 8.31

TATAPOWER 6.57

INDIACEMENTS 5.30

TATACONSULTANCYSERVICES 4.92

SAIL 4.82

RELIANCECOMMUNICATION 4.68

TATAMOTORS 4.65

GRASIMINDUSTRIES 4.30

MUL 4.16

TISCO 3.92

JAIPRAKASHASSOCIATES 3.63

HINDALCO 3.10

WIPRO 2.87

M&M 2.84

RELIANCEINFRASTRUCTURE 2.83

STERLITEINDUSTRIES 2.64

ACC 2.51

SUNPHARMACEUTICALS 1.71

DLF 1.59


STERLITEINDUSTRIES 33.59SUNPHARMACEUTICALS 30.87RELIANCEINFRASTRUCTURE 25.30M&M 24.72WIPRO 23.98ACC 19.88HINDALCO 19.26JAIPRAKASHASSOCIATES 18.33TATAMOTORS 14.48DLF 14.18





LICMF GROWTH FUNDAn Open-ended SchemeGrowth


YESBANK 12.48 0.26%

VIJAYABANK 11.65 0.24%

PROVOGUE(INDIA) 5.80 0.12%

RENAISSANCEJEWELLERY 0.06 0.00%

0.00%


Debt 0.00 0.00%

Total-Debt 0.00 0.00%

Commercial Paper/Bank Deposit 0.00 0.00%

Cash‘n’Call, Current Assets & Receivables 654.28 13.73%





Last 1 year -35.27%

Last 3 year -10.66%


%Benchmark (Sensex) Return - last 1 year -37.94

ANNUALISED RETURNS



Equity

SBI 381.86 8.01%

RIL 380.80 7.99%

L&T 302.69 6.35%

ONGC 296.29 6.22%

ICICIBANK 249.45 5.24%

GAIL 247.41 5.19%

HDFCBANK 203.25 4.27%

CONCOR 190.78 4.00%

NTPC 180.20 3.78%

POWERFINANCECORPORATION 179.55 3.77%

PUNJABNATIONALBANK 164.36 3.45%

RELIANCEINFRASTRUCTURE 154.61 3.25%

HDFC 141.12 2.96%

INFRASTRUCTUREDEVELOPMENTFINANCE 135.50 2.84%

BANKOFINDIA 109.95 2.31%

ELDERPHARMACEUTICALS 108.63 2.28%

TATACHEMICALS 82.71 1.74%

RELIGAREENTERPRISES 81.88 1.72%

NEYVELILIGNITECORPORATION 73.70 1.55%

AXISBANK 62.18 1.31%

BEML 57.23 1.20%

POWERTRADINGCORPORATIONOFINDIA 56.17 1.18%

JAIPRAKASHASSOCIATES 54.73 1.15%

JAIPRAKASHHYDRO-POWERLTD. 53.94 1.13%

POWERGRIDCORPORATIONOFINDIA 37.49 0.79%

PUNJLLOYD 27.35 0.57%

RELIANCECOMMUNICATION 26.19 0.55%

TISCO 20.60 0.43%

PETRONETLNG 19.43 0.41%

LICMF TAX PLANAn Open-ended ELSS


DIVIDEND HISTORY

Month Dividend

Mar-04 20.00%Mar-05 30.00%Aug-05 10.00%Mar-06 20.00%Oct-06 25.00%May-07 10.00%Oct-07 15.00%







Debt 0.00

Total - Debt 0.00

Commercial Paper / Bank Deposit 0.00


Equity


S B I 223.98

L & T 201.80

S A I L 183.26

R I L 177.65

O N G C 155.94

I T C 147.84

H D F C 98.78



I C I C I BANK 83.64

RELIANCE INFRASTRUCTURE 56.69

G A I L 54.96

RELIGARE ENTERPRISES 49.13

T I S C O 47.17

BANK OF INDIA 43.98


CAIRN INDIA 36.81



ADANI ENTERPRISES 21.36

PAREKH ALUMINEX 11.09

TATA MOTORS 10.82

KOTAK MAHINDRA BANK 8.57




Holdings Market Value(Rs. in Lakhs)

Last 1 year

Last 3 years

Since Inception

-37.51%

-12.74%

4.45%

Benchmark (Sensex) Return Last 1 year -37.94%

ANNUALISED RETURNS

DIVIDEND HISTORY

Month Dividend

Oct-07 15.00%

NAV (Rs.) as on 31/03/2009: DIVIDEND: 5.8477; GROWTH: 6.5934

NAV (Rs.) as on 31/03/2009; Dividend: 5.9741; Growth: 16.6857

The year that was….

Indices % Fall Indices % Fall

Sensex -37.94 BSE POWER -42.09

BSE FMCG -11.08 BSE 500 -42.77

HEALTHCARE -26.45 CAPITAL GOODS -53.84

BSE-oil and Gas -29.59 BSE Midcap -54.01

Auto -32.34 Consumer Durables -58.14

BSE-IT -35.57 Small-cap -58.6

Tech -38.93 Metal -58.67

Bankex -41.81 Realty -79.34

Indian Economy

The projected growth rate for the Indian economy is estimatedto be 6.5-7% for the year 2009 as per the PM's Advisory Counciland around 7.7% in the year 2010. The growth rate will bemoderate mainly due to fall in the Industrial growth and sloweragricultural growth. The inflation measured by the WPI hasreached in the trajectory of disinflation. The decliningcommodity prices and weakening demand resulting fromeconomic slowdown led to decline of the annual inflation rate tofall to another historic low of 0.27 per cent for the week endedMarch 14. The Rupee has been very volatile and weak againstdollar during the year. Gold as an asset class gave anappreciation of 29% in the last financial year which is anindicator of investors' attention shifting from financial assets totraditional commodities.

Currently, in order to increase the liquidity in the market, thegovernment and the Reserve Bank of India has introducedstimulus packages leading to softening of interest rates, cuttingof duties and tax rates. Falling Stock market, slowing real estatemarket and stringent lending which leads to slowconsumption/spending is leading the overall economy into adawdling phase.

However, with the new government in place, new reforms areexpected. India's banking system has been sound and resilientin the current financial turmoil.

The year 2008-2009 was a gloomy year for the Indian stockmarket. The unprecedented mayhem in the financial markets inUS that began in the late FY08 brought the entire world in itsclutches.

For the first time in five years the BSE Sensex gave negativereturns over the financial year. It closed at 9708 down 37.94 percent from the previous fiscal close of 15644. The broader 50-share Nifty closed at 3021 down 36.19 per cent from theprevious fiscal close of 4734.50.

Booking of losses under sub-prime loans by leading financialfirms in US and the credit crises in US led to fall of the entirefinancial system all over the world. The economic crises causedsteep fall of the stock markets across various countries and alsoled to temporarily close some of the stock markets. Indian Stockmarket fell drastically to 15332.42 levels on 22 January 2008from its peak of 20206.77 on 10 January 2008. The next majorshock came in September 08 with the filing of bankruptcy byLehaman Brothers, Sale of Merril Lynch to bank of America andrescue package for one of the largest insurer AIG which sufferedliquidity crisis led to major Financial meltdown across the globe.The Indian Stock market was no exception to this financialhavoc. The heavy selling by the FIIs, liquidity crunch and worriesabout global slowdown put pressure on the Indian stockmarket. The BSE Sensex touched the lowest of the year 7697.39on 27 October 08. However, from October to March 2009, themarkets have been moving in the range of 8000 to 11000 levels.The Indian economy along with the global economy fell into thevicious circle of slowdown. The regulators revised downwardEconomic growth estimates due to poor industrial output data.

The Sensex lost almost 6000 points during this financial year.The Mid-cap and Small-caps are more affected than the largecaps and the indices fell by 54% and 58.6% during the year.

Amongst the Sectoral indices, BSE Realty Index was the worsthit during the fiscal losing 79.34%. The real estate companystocks had a good rally in the last Bull Run. However, theseprices corrected sharply due to plunge in the real estate market

nd

th

th

Equity Market

owing to slow demand, higher interest costs and input cost. TheBSE Metal Index also lost 58.67% due to sharp fall in thecommodity prices. The most resilient sectors were FMCG andHealthcare that fell only 11.08% and 26.45% respectively. Thesteep fall in the oil prices led to fall in the prices of Oil companiesstocks.

The Foreign Institutional Investors (FIIs), the major participantsin the Indian stock market offloaded equities worth Rs.6151.50Crores during 2008-2009(sebi data). However, the FIIregistration showed a significant rise during the same period.The total number of registration of FII stood at 1635 and FII sub-accounts at 5015 as on 31st march 2009 against 1319 FIIs and3964 sub-accounts a year ago. The Domestic Institutionalinvestors tried to support the Indian Market by on buying side.The Mutual Funds bought shares worth Rs.1477.30 crore on31/03/2009.

The Elections are due in April 2009 and as per estimates,Rs. 10,000 crores is to be spent on it. From 1996 till date inspiteof 4 coalition governments into power India has managed togrow at 9 per cent rate. This time around as well, many fear ahung Lok Sabha. But any new government will try to continuereforms, wipe out the fiscal deficit as much as possible in orderto put the Indian growth story on track.

Money market was easy and the call rates were soft through outthe month on account of ample cash with the Bank & improvedliquidity condition. Call rates traded at 2.25 -4.30 % at the end ofthe month.

Headline inflation, as measured by the wholesale price index,has fallen sharply to 0.44 percent week to march 7, two decadelow providing room for RBI to cut interest rates. FY 2008-09 sawa massive reversal of fortunes in terms of crude oil prices, withthe commodity hitting its all time-high in July and a four-year lowby mid-December. Inventory pile caused by Lower demand sawcrude oil prices dropped by nearly $100 to $47.25 by the end ofyear from its peak in July 2008.

Last year 10-year G-sec was trading at a yield of 7.94 percent, assentiments were jittery on inflation concerns. The yield on the 10year bond fell by 93 basis points in FY 2008-09, mostly due toaggressive rate cuts by the RBI to boost the economy. Thecentral bank has cut its repo rate by 275 basis points to 5.00percent and banks' cash reserve requirements by 250 basispoints to 5.00 percent over the past one year. Earlier, G-Secyield touched a record low of 4.86 percent, as series of rate cutcoupled MSS buy back by RBI boosted the confidence in G-secMarket. However, the yield on government securities has beenclimbing in the recent past with new benchmark 2019 bondclosing at 7.01 percent at the end of month. This Sluggishnessin G-sec market is largely attributable to the substantial increasein the quantum of government borrowing reflecting the surge infiscal deficit. The central government's borrowing target for thefirst half of FY 2009-10 has been pegged at Rs 2,41,000 crorealmost 80 per cent of its total borrowing in FY 2008-09. On thecorporate bond front, spread between the ten -year corporateand government debt yields was at around 202 basis points and5-year AAA corporate bond and government debt was 171basis points. Rupee closed at 50.71/72 per dollar on 31st March09. Rupee lost nearly 21 percent in 2008-09, biggest fall sincethe balance of payment crisis.

The capital markets seem to be in a consolidation phase. Thenext major response from the Equity markets is expected afterthe results of the forthcoming Election, the policy decisionstaken by the New Government, the economic response to thesepolicy decisions, the GDP Data and the corporate resultsexpected soon. The Indian stock market is expected to be rangebound in near future.

The Debt Markets also have gone through their own turmoil.With inflation moving towards negative territory, RBI may go fora rate cut to stimulate demand and protect the economy fromglobal recession. This may help in softening of yields ongovernment securities & corporate bonds. We expect liquidityto remain soft in the foreseeable future.

CIO’s Desk...

Debt Market

Outlook


LICMF UNIT LINKED INSURANCE SCHEMEAn Open-ended Insurance linked Tax Saving Scheme



NAV (Rs.) as on 31/03/2009: 7.2488


-24.13%-2.34%10.13%


ANNUALISED RETURNS



Equity




S B I 351.96

N T P C 324.36


BHARAT ELECTRONICS 129.31

L & T 121.08

O N G C 116.96

H D F C BANK 116.14




G A C L 71.30


B H E L 60.17



R I L 45.70


G A I L 24.43

S A I L 24.11

BANK OF BARODA 21.93



Debt

TOTAL - DEBT 3099.78Commercial Paper 0.00TOTAL - Commercial Paper


GSEC 6.05% 02/02/2019 AAA 186.48RURAL ELECTRIFICATION CORPORATION AAA 96.65RELIANCE CAPITAL A1+ 800.00IL&FS INVESTSMART F1(SO) 709.17FIRST LEASING PR1+ 700.00ERA CONSTRUCTION F2+ 507.48BAJAJ HINDUSTAN F1 100.00





Bonds / Debentures

Commercial Papers

IDFC AAA 5027.50

H D F C AAA 4974.75



ARCH PHARMALABS F1 5000.00





BHUSHAN STEEL & STRIPS F1 1200.00



MIDDAY MULTIMEDIA P1 995.00






REI AGRO PR1 300.00

AMALGMATED BEAN COFEE TRADING CO. L PR1+ 50.00



DLF A1+ 8517.31





NAV (Rs.) as on 31 3

Daily Dividend : 10.0000 Weekly Dividend : 10.0026

10.0614 11.7431

/0 /2009

Monthly Dividend : Growth :

LICMF INCOME PLUS FUNDAn Open-ended Debt Scheme

Category Exposure (Rs. Lakh) % Contribution

Equity 2795.46 44.68%

Debt 3099.78 49.54%

Money Mkt. 362.00 5.79%

Total 6257.24 100.00%

DIVIDEND RECORD

Year Rate

1989-90 12.50%

1990-91 13.00%

1991-92 13.50%

1992-94 (18 months) 15.00%

1994-95 7.50%

1996-97 6.00%

1997-98 10.00%

1999-00 10.00%

Year Rate

2001-02 10.00%

2002-03 7.50%

2003-04 17.00%

2004-05 20.00%

2005-06 28.00%

2006-07 44.00%

2007-08 30.00%

2008-09 0.00%

July, 07 0.06660000 0.08314312 0.06570000Aug., 07 0.06640000 0.05480000 0.07180000Sept., 07 0.06460000 0.07320000 0.06490000Oct., 07 0.07380000 0.07020000 0.07410000Nov-07 0.07040000 0.06220000 0.06900000Dec-07 0.07400000 0.06670000 0.07430000Jan-08 0.07500000 0.08500000 0.07530000Feb-08 0.06900000 0.06300000 0.06910000Mar-08 0.08220000 0.09270000 0.08290000Apr-08 0.06720000 0.06200000 0.06750000May-08 0.06860000 0.06340000 0.06870000Jun-08 0.07650000 0.08690000 0.07690000Jul-08 0.07880000 0.08860000 0.07910000Aug-08 0.07820000 0.07560000 0.07870000Sep-08 0.08850000 0.09690000 0.08890000Oct-08 0.09410000 0.08220000 0.09450000Nov-08 0.07390000 0.07850000 0.07510000

Dec-08 0.08630000 0.09820000 0.09370000Jan-09 0.07070000 0.05430000 0.07080000Feb-09 0.05580000 0.05660000 0.05590000Mar-09 0.06120000 0.06460000 0.06140000

Month Daily Weekly Monthly


Bank Deposits

Cash ‘n’ Call, Current Assests and Receivables 33925.67

VYSYA BANK P1+ 9275.50VIJAYA BANK PR1+ 4916.33UNITED BANK OF INDIA A1+ 4855.43I D B I BANK A1+ 4844.20

BANK OF INDIA 10000.00PUNJAB NATIONAL BANK 500.00



Avg. Maturity (in months) : 5.89Avg. Duration (in months) : 5.59

Expense Ratio (as at 31 ) : 2. %/03/2009 50

Last 1 yearSince Inception

9.50%9.14%

Benchmark (C Fund ~ LX) Return - last 1 year 8.80%

ANNUALISED RETURNS


DIVIDEND DECLARED

The financial year 2008-09 was a very difficult year not only for the global and Indian economy in general but also

for the India Mutual Fund Industry in particular. Following the bankruptcy of Lehman Brothers in mid September

2008, the global financial markets that were already suffering the consequences of the sub-prime credit and

other financial misadventures, totally seized and the shockwaves hit India and other emerging economies

shattering in its wake the “decoupling” theory which had claimed that emerging markets would be immune to

the financial turmoil faced by the Developed economies for various reasons. The turmoil in the financial and real

economy soon caused a deep crisis of confidence and Mutual funds faced a deluge of redemptions in October

2008. Just as the saying goes “When the going gets tough, the tough get going”, LICMF, which also faced the

crisis, came out much stronger.

On its part, the Government of India, to combat slowdown announced three stimulus packages, of which one

includes the reduction in the key interest rates. This came as a boon to the G-Sec investors with yields falling to

its lowest thereby benefiting the banks with better profits. Inflation figures began to fall though too much of it is

not good for economic growth. While rest of the measures were meant to boost the aggregate economic

demand, their impact is yet to be felt in the coming quarters and it is believed that if the investment and

consumption picks up as expected, the increased fiscal deficit, which is inevitable on account of the conscious

decision to provide the monetary and fiscal stimulus, can be quickly reversed.

After 9% GDP growth for 2007-08, PM's Advisory Council has projected, in January 09, growth of 7.1% for 2008-

09. This has been revised further to 6.5-7% in March 09. However, there are positive notes as well. GDP growth

rate of 7% is expected in 2009-10 and is possible to accomplish for all valid reasons. Oil and Commodities prices,

the key factors to dampen the industry demand, have now declined. Interest rates have calmed down and cost of

borrowing has reduced and may be relaxed further if there is another cut in key interest rates. Liquidity is no

longer a constraint. Sixth Pay Commission when fully implemented is bound to increase the disposable income

of the population. Interest on the investment in country's infrastructure is still strong.

Average AUM of LIC Mutual Fund as on March 31, 2009 stood at Rs.23,092.37 crore. With this we have achieved

a growth of 64.29% in AAUM over last year's AAUM of Rs.14,056.16 crore. The growth in AAUM registered by

LICMF is one the highest in the industry. Of the total assets under management, nearly 87% is contributed by

debt schemes while the rest is made of equity and hybrid schemes. During the year we have launched 11 NFOs,

of which 7 were FMPs and 4 were Interval Funds.

For the period ending December 31, 2008, LICMF Liquid Fund and LICMF Floating Rate Fund received the “Gold

Award” for best performance in the respective category for 3-year period and were rated as 7 Star Funds in the

ICRA Mutual Fund Awards. While LICMF Income Plus received the “Gold Award” for best performance in the

respective category for 1-year period, was also rated as 7 Star Funds. Besides this our schemes got three 5 Star

Fund Awards. Morningstar, leading global investment research based company best known for rating funds and

stocks, awarded LICMF Liquid Fund with the Best Fund in the India Liquid category.

The schemes in debt category have by and large outperformed their respective benchmarks for FY2008-09.

Hybrid and equity schemes performed in line with the market indices. Almost all the schemes performed in the

top-20 performance bracket.

Increased thrust is given to attracting and retaining pool of retail investors across semi urban and rural areas.

Determined efforts have been made to make products available across wide spread locations. Field force has

been increased by manifold and feedback mechanism is in place. LICMF Short Term Plan was relaunched as

LICMF Savings Plus Fund keeping the needs of retail investors in mind.

LICMF thanks all its investors for their continuous trust. We reaffirm our commitment to deliver value to our

customers.

- CEO's Desk

Where we stand…

Whither from here…

FUND PERSPECTIVE

Investment Managers :

LIC Mutual Fund Asset Management Company Ltd.

MUTUALINTEREST

April, 2009FOR PRIVATE CIRCULATION

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Pri

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Offse

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.

4th Floor, Industrial Assurance Bldg., Opp. Churchgate Station, Mumbai 400 020. Tel. : 22851663 visit us at www.licmutual.com

Statutory DetailsRISK FACTORS

: LIC Mutual Fund has been set up as a Trust sponsored by Life Insurance Corporation of India. LIC Mutual Fund Asset Management Co. Ltd. is the Investment Managerto the Fund. : Mutual Funds and Securities investments are subject to market risks and there is no assurance and no guarantee that the objectives of the Mutual Fund willbe achieved. As with any investment in stocks and shares, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the capitalmarkets. The Sponsor is not responsible for or liable to any loss resulting from the operations of the scheme beyond their initial contribution of Rs. 2 Crore towards the setting up of theMutual Fund. Past performance of the Sponsor/AMC/Mutual Fund does not indicate the future performance of the schemes of the Mutual Fund. The NAV of units of the scheme may beaffected by changes in general level of interest rates. Please read the offer document carefully before investing.

Investment Manager:

AREA OFFICES

Mobile No. Name of Place Mobile No. Name of Place Mobile No.

PLACE ADDRESS LANDLINE MOBILE

AHMEDABAD

BANGALORE

CHENNAI

ERNAKULAM

HYDERABAD

JAIPUR

KANPUR

MUMBAI

NEW DELHI

RAIPUR

RANCHI

Jeevan Sadan, 3rd Floor, LIC Building, Opp. Capital Commercial Center,Ashram Road, AHMEDABAD - 380006.

No.4, Canara Mutual Building (Opp. Cash Pharmacy), 2nd Floor,Residency Road, BANGALORE-560025.

Jeevan Vikas, 16/98, M.G. Road, KANPUR - 208001.

- LIC Mutual Fund, 4th Floor, Industrial Assurance Bldg.,Opp. Churchgate Station, MUMBAI - 400020.

7th Floor, Jeevan Prakash, 25 K.G. Marg, NEW DELHI - 110001.

Narsaria Tower, 2nd Floor, Opp. Lalpur Police Station, Post Lalpur, 0651-2206372

079-26631989 / 65431989 9375090006 / 9924403147

080-22210180 / 22295598 9845172957 / 9972092957 /9986500721

OCHC Building, Ground Floor, 24-Janpath, Unit-3, BHUBANESHWAR-751001. 0674-2390694 9438132162 /9438081037 /9438526420

15, Anna Salai, Next to V.G.P. Bldg., CHENNAI - 600002. 044-28411984 / 28555883 9382315850 / 9382980073 /

9962526278

11th Floor, Jeevan Prakash, M.G. Road, Ernakulam, Kochi - 682011 0484-2367643 9895036554 / 9745612888 /

9446042945

T 9/10, 3rd floor, Alfran Plaza, Opp. Don Bosco High School, M. G. Road, 0832-2420561 9421151400 / 9890711551

Panaji, Goa-403001.

LICMF AMC Ltd., C/o LIC of India, Jeevan Deep Building, Panbazar, Guwahati -782 001 0361 - 2735323 9435040478 / 9707021706

LIC Mutual Fund, House No. 5-9-57, 4th Floor, Jeevan Jyoti Building, 040-23244445 / 23210572 9392471583 / 9000444850 /Basheerbagh, HYDERABAD - 500029. 9000550850

U.V. Business Centre, 1st Floor, Snehil 9/1-A South Tukoganj, INDORE - 452001. 0731-2520262 / 4069162 9753242050 / 9425870126

327 - A, 3rd floor, Ganpati Plaza, M. I. Road, JAIPUR - 1. 0141-5112620 9460873120 / 9829098323 /9929095005

0512-2360240 / 3244949 9415060134 / 9984006600 /

9838038440 / 9918971258

Ground Floor, Hindustan Building Annexe, 4, Chittaranjan Avenue, 033-22129455 / 65290605 9432128113 / 9433098459 /

KOLKATA - 700072. 9339531895 / 9339002574 /9231407611

LICMF AMC LTD., Room No. 102, 1st Fl., S.C.O. 19, Opp. Stock Exchange 0161 - 2405805 / 2405806 9814703558 / 9888320209Feroze Gandhi Market, Ludhiana - 141 001 9872106060

LICMF AMC Ltd., No. 6, Gr. Floor, Popular Building, K S Rao Road, Managalore - 575 001 0824 - 2411482 9845190466 / 9980950466

022-22885971 / 55719750 9324543832 / 9323181203 /9323180802 / 9892550455 /9930957772 / 9870775600

LIC Mutual Fund, 4th Floor, Industrial Assurance Bldg., 022-22851660 9820002994 / 9967655060 /Opp. Churchgate Station, MUMBAI - 400020. 9371617717 / 9920675088

LIC Mutual Fund, Iind Floor, Indian Mutual Bldg., Mount Road, Sadar, Nagpur - 440 001 0712 - 2542497 9422113800

Shop No.2, Ground Floor, Rajvee Enclave, New Pandit Colony, NASHIK - 422002. 0253-2579507 9922996155 / 9823366379

011-23359190/23314396 9818039607 / 9818039603 /9818030124 / 9999828173 /9818191263 / 9811108744

Ground floor, Jeevan Jyothi Bldg. Exhibition Road, PATNA - 800001. 0612-2501157/6452757 9470610695 / 9431023274

SF-22-23, Millennium Plaza, Near Indian Coffee House, 0771-2236780/4051137 9329731077 / 9329100009/G.E. Road, RAIPUR - 492001 C.G. 9329778201

RANCHI -834001. 9470524099 / 9334768543

BHUBANESHWAR

GOA

GUWAHATI

INDORE

KOLKATA

LUDHIANA

MANGALORE

MUMBAI -

NAGPUR

NASHIK

PATNA

I

II

ALWAR : 9950995148AGRA : 9927888854ALAPUZHA : 9447367160AMRITSAR : 9814299747AJMER : 9829077674AMRAVATI : 9923797207ANANTPUR : 9000444852AURANGABAD : 9422728151BERHAMPORE : 9238504924BELGAUM : 9845205168BELLARY : 9980830179BILASPUR : 9301982280BHILAI : 9301701133BHOPAL : 9302441980BHAGALPUR : 9431609765BOKARO : 9955189443CHANDIGARH : 9316065681COIMBATORE : 9282216891DHANBAD : 9835334495DEHRADUN : 9410702598FARIDABAD : 9871814850GORAKHPUR : 9336833448GULBARGA : 9900144196GAYA : 9334118071

GWALIOR : 9406586454HUBLI : 9880058223HAZARIBAG : 9835197681 /

9199107292JABALPUR : 9407606313JAMMU : 9419213201JAMSHEDPUR : 9234620669JODHPUR : 9829947974KANNUR : 9846113249KARIMNAGAR : 9000444853KOTTAYAM : 9349374220KOZHICODE : 9961036375KOTA : 9829905879KOLHAPUR : 9822851948LUCKNOW : 9450661015 /

9453016072MADURAI : 9994509005MALDA : 9836237434 /

9851955023MEERUT : 9319267811MYSORE : 9986117183MUZAFFARPUR : 9431813155

NELLORE : 9000444854PONDICHERRY : 9443337411PANIPAT : 9996006023PUNE : 9325523480RAJKOT : 9898733233SAMBALPUR : 9937040031SALEM : 9944744424SHIMOGA : 9902007686SURAT : 9978862626

9925027406SILIGURI : 9332114747THANE : 9320180806THIRUVANANTHAPURAM : 9388088066THRISSUR : 9388110220TRICHY : 9842524130UDAIPUR : 9784011432VADODARA : 9327494916VARANASI : 9336501004VISHAKHAPATNAM : 9000444851VIJAYWADA : 9000444856

BUSINESS CENTREName of Place

4th Floor, Industrial Assurance Bldg., Opp. Churchgate Station,Mumbai - 400 020. Tel.: 22851663. www.licmutual.com

AREA OFFICES April, 2009 PLACE ADDRESS LANDLINE … · alwar : 9950995148 agra : ... shriram...

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