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Dear Policyholder,

Equity markets saw gains of 1.5% in May 2019 as investors cheered the results of 2019 general elections, where the BJPled NDA got re-elected with higher numbers compared to 2014. Another big positive was the correction in crude oil prices by 11.4% during May 2019 due to concerns of global trade wars. Escalation of global trade wars does not augur well for global growth but India seems to be in a sweet spot in this scenario with falling commodity prices, strong political leadership and favorable macro conditions.

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