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Friday, December 16, 2022

ICICI Pension Fund Scheme E


We evaluate the efficiency consistency of ICICI Pension Fund Scheme E – NPS TIER I measured towards Nifty 50 TRI and UTI Nifty 50 TRI. The scheme was launched in July 2009 and at present has an AUM of about Rs. 5,594 crores.

In a earlier article, we listed the funding coverage of NPS fairness schemes, which behave like actively managed giant and mid cap funds: Is the NPS Fairness Scheme an index fund?

Due to this fact it’s proper to find out how usually these funds outperform their benchmarks (BSE 100 or BSE 200). The Nifty 50 is an equal accessible benchmark.

Earlier opinions

Disclaimer: Fund efficiency experiences current return and danger evaluation of a fund with consultant benchmarks and never funding suggestions. It have to be expressly understood that the info beneath replicate solely previous efficiency and is under no circumstances a sign of future efficiency.

We will use the Rolling return outperformance consistency to gauge efficiency. The fund returns are in contrast with class benchmark returns over each attainable 1Y,2Y,3Y,4Y, and 5Y interval. Increased the outperformance consistency, the higher. Suppose 876 fund returns had been in contrast with 876 benchmark returns, and the fund has overwhelmed the benchmark 675 instances. The consistency rating can be 675/876 ~ 77%. All knowledge are as of twenty ninth August 2022.

ICICI Pension Fund Scheme E – NPS TIER I vs Nifty 50 TRI & UTI Nifty 50 TRI

One yr

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (1 12 months) 2167 3010
No of rolling return entries Fund (1 yr) 2167 3010
No of instances fund has outperformed the index (1 yr) 1106 1598
rolling return outperformance Consistency Rating (1 yr) 51% 53%

Two years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (2 Years) 1928 2771
No of rolling return entries Fund (2 years) 1928 2771
No of instances the fund has outperformed the index (2 years) 1051 1447
rolling return outperformance Consistency Rating (2 years) 55% 52%

Three years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (3 Years) 1677 2520
No of rolling return entries Fund (3 years) 1677 2520
No of instances the fund has outperformed the index (3 years) 612 1227
rolling return outperformance Consistency Rating (3 years) 36% 49%

4 years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (4 Years) 1434 2277
No of rolling return entries Fund (4 years) 1434 2277
No of instances the fund has outperformed the index (4 years) 353 1098
rolling return outperformance Consistency Rating (4 years) 25% 48%

5 years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (5 Years) 1190 2033
No of rolling return entries Fund (5 years) 1190 2033
No of instances the fund has outperformed the index (5 years) 192 949
rolling return outperformance Consistency Rating (5 years) 16% 47%

Sadly, that may be a poor efficiency vs Nifty 50 for a non-index that wishes to “maximise returns”. Given the constraints of the NPS, we should recognize that that is nearly pretty much as good because it will get for NPS schemes! Add the obligatory lock-in and annuity restrictions, and the UTI Nifty 50 index fund is a greater purchase.

We advocate avoiding fairness (scheme E) in your NPS portfolio! Except your employer contributes to the NPS  and you’ve got a everlasting job, it makes little sense to spend money on the NPS. See: Steer clear of Company NPS if You Want to Retire ASAP!

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