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We evaluate 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 typically these funds outperform their benchmarks (BSE 100 or BSE 200). The Nifty 50 is an equal accessible benchmark.
Earlier critiques
Disclaimer: Fund efficiency studies current return and threat evaluation of a fund with consultant benchmarks and never funding suggestions. It have to be expressly understood that the information under mirror solely previous efficiency and is on no account 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 doable 1Y,2Y,3Y,4Y, and 5Y interval. Increased the outperformance consistency, the higher. Suppose 876 fund returns have been in contrast with 876 benchmark returns, and the fund has overwhelmed the benchmark 675 instances. The consistency rating might 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 12 months
| Metric | UTI Nifty 50 | Nifty 50 TRI |
| No of rolling return entries Index (1 Yr) | 2167 | 3010 |
| No of rolling return entries Fund (1 12 months) | 2167 | 3010 |
| No of instances fund has outperformed the index (1 12 months) | 1106 | 1598 |
| rolling return outperformance Consistency Rating (1 12 months) | 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 admire that that is nearly pretty much as good because it will get for NPS schemes! Add the necessary 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! 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: Avoid Company NPS if You Want to Retire ASAP!
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