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Tuesday, November 29, 2022

UTI Pension Fund Scheme E


We evaluation the efficiency consistency of UTI Pension Fund Scheme E – NPS TIER I measured towards Nifty 50 TRI and UTI Nifty 50 TRI. The scheme was launched in Might 2009 and at the moment has an AUM of about Rs. 1,423 crores, a lot decrease than the corresponding AUM of HDFC and SBI fairness schemes reviewed earlier.

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

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

Earlier opinions

Disclaimer: Fund efficiency reviews current return and threat evaluation of a fund with consultant benchmarks and never funding suggestions. It have to be expressly understood that the info beneath mirror solely previous efficiency and is by no means 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 crushed the benchmark 675 instances. The consistency rating might be 675/876 ~ 77%. All information are as of twenty ninth August 2022.

UTI 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) 3424 3607
No of rolling return entries Fund (1 yr) 3424 3607
No of instances fund has outperformed the index (1 yr) 2252 1190
rolling return outperformance Consistency Rating (1 yr) 66% 33%

Two years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (2 Years) 2637 3065
No of rolling return entries Fund (2 years) 2637 3065
No of instances the fund has outperformed the index (2 years) 1705 1213
rolling return outperformance Consistency Rating (2 years) 65% 40%

Three years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (3 Years) 1822 2535
No of rolling return entries Fund (3 years) 1822 2535
No of instances the fund has outperformed the index (3 years) 910 1028
rolling return outperformance Consistency Rating (3 years) 50% 41%

4 years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (4 Years) 1428 2291
No of rolling return entries Fund (4 years) 1428 2291
No of instances the fund has outperformed the index (4 years) 554 1005
rolling return outperformance Consistency Rating (4 years) 39% 44%

5 years

Metric UTI Nifty 50 Nifty 50 TRI
No of rolling return entries Index (5 Years) 1182 2044
No of rolling return entries Fund (5 years) 1182 2044
No of instances the fund has outperformed the index (5 years) 376 907
rolling return outperformance Consistency Rating (5 years) 32% 44%

Sadly, that could be a poor efficiency vs Nifty 50 for a non-index that desires to “maximise returns”. Given the constraints of the NPS, we should admire that that is nearly nearly as good because it will get for NPS schemes!

Concerning efficiency versus UTI Nifty 50, HDFC T1 E > SBI T1 E > UTI T1 E (see hyperlinks above). That, after all, doesn’t make a pension fund with obligatory lock-in and annuity restrictions a greater purchase than UTI Nifty 50 Index fund!

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

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