Wednesday, February 1, 2023
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ICICI Pension Fund Scheme E


We overview the efficiency consistency of ICICI Pension Fund Scheme E – NPS TIER I measured in opposition to Nifty 50 TRI and UTI Nifty 50 TRI. The scheme was launched in July 2009 and presently 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 massive and mid cap funds: Is the NPS Fairness Scheme an index fund?

Subsequently 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 critiques

Disclaimer: Fund efficiency reviews current return and danger evaluation of a fund with consultant benchmarks and never funding suggestions. It should be expressly understood that the info under mirror 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. Larger 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.

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 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! Add the obligatory lock-in and annuity restrictions, and the UTI Nifty 50 index fund is a greater purchase.

We suggest 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 put money into the NPS. See: Keep away from Company NPS if You Want to Retire ASAP!

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