Aug 10, 2015

RETAIL RESEARCH

Performance of Pension Funds (NPS Tier I)

Returnsecember
as of July 31, 2015(5)

Asset Class E:
Asset Class E is a pure Equity fund investing in shares of the companies which are listed on Bombay Stock Exchange or National Stock Exchange and on which derivatives are
available or are a part of BSE Sensex or Nifty 50 Index. The investors can allocate their investment in this class up to 50%.
Relative performance of Asset Class E which are offered by the Pension Fund Managers:
Trailing Return (%)
Latest
Name of Fund
3
6
1
2
3
NAV (Rs)
Month
Month
Year
Year
Year
SBI E
18.42
5.09
-2.13
11.78
23.07
19.57
Reliance E
20.47
5.10
-2.04
11.93
23.42
19.21
Kotak E
19.92
5.26
-1.81
12.11
23.41
19.21
ICICI E
21.77
5.12
-2.08
12.11
24.38
19.74
UTI E
21.19
5.34
-1.23
12.96
23.75
19.57
HDFC E
15.65
5.15
-2.05
12.15
25.10
LIC E
14.57
5.07
-2.46
11.34
20.70
Benchmark:
Sensex
28114.56
4.08
-3.66
8.57
20.55
17.52
Nifty
8532.85
4.29
-3.13
10.51
21.90
17.54

5
Year
11.06
10.41
11.27
11.59
10.60
-

3
Month
2.98
2.94
3.07
3.19
2.88
6.45
5.36

9.49
9.71

2.68
2.76

Rolling Return (%)

6
1
2
Month
Year
Year
6.38
12.88
11.66
6.29
12.40
10.88
6.56
13.04
11.45
6.82
13.57
12.10
6.20
12.35
10.89
14.64
30.85
12.68
27.49
6.29
5.91

11.38
11.51

10.09
9.99

3
Year
11.38
10.58
11.22
11.81
10.54
-

Standard
Deviation (%)
0.91
0.91
0.90
0.92
0.87
0.91
0.90

9.82
9.76

Note: Returns are in % (Trailing & Rolling), below one year are absolute while for one year and above are CAGR. Rolling returns are more relevant for schemes that have longer NAV history.

Asset Class C:
Asset Class C is a Debt Fund which invests only in Credit Risk bearing fixed income securities other than Central and State Government Bonds. No Equity allocation.
Relative performance of Asset Class C which are offered by the Pension Fund Managers:
Trailing Return (%)
Latest
Name of Fund
NAV
3
6
1
2
3
(Rs)
Month Month
Year
Year
Year
SBI C
19.57
1.91
3.13
13.27
12.03
10.73
Reliance C
17.53
2.05
3.28
13.07
12.05
11.15
Kotak C
19.34
2.21
3.63
13.38
12.22
10.84
ICICI C
19.44
2.11
4.38
14.51
12.70
11.25
UTI C
17.74
1.99
3.39
12.94
11.90
10.63
HDFC C
12.65
2.12
3.59
13.34
12.48
LIC C
12.72
2.32
4.35
13.43
12.80
Benchmark:
Crisil 10 Yr Gilt Index
1.15
1.99
11.92
7.22
7.18
Crisil Composite Bond Fund Index
1.63
2.99
11.68
10.79
8.91

5
Year
10.91
10.21
10.86
11.52
10.42
-

3
Month
2.92
2.57
2.82
2.89
2.68
3.21
3.25

6.34
8.17

Rolling Return (%)

6
1
2
Month
Year
Year
5.90
11.83
11.70
5.27
10.78
10.90
5.74
11.70
11.64
5.87
11.98
11.88
5.49
11.15
11.10
6.96
13.30
6.93
13.20
-

3
Year
11.74
10.95
11.70
11.91
11.11
-

Standard
Deviation
(%)
0.20
0.18
0.18
0.20
0.14
0.16
0.15

Note: Returns are in % (Trailing & Rolling), below one year are absolute while for one year and above are CAGR. Rolling returns are more relevant for schemes that have longer NAV history.

Asset Class G:
Asset Class G is a Gilt fund which invests only in Central Government Bonds and State Government Bonds. No Equity allocation.
Relative performance of Asset Class G which are offered by the Pension Fund Managers:
Trailing Return (%)
Latest
Name of Fund
NAV
3
6
1
2
3
(Rs)
Month Month
Year
Year
Year
SBI G
17.98
0.68
0.93
14.78
11.50
9.65
Reliance G
16.21
0.75
1.08
14.35
11.40
9.75
Kotak G
16.54
0.82
1.43
13.70
11.00
9.29
ICICI G
16.75
0.65
1.03
14.46
11.54
10.21
UTI G
16.47
0.73
1.18
14.19
11.45
9.76
HDFC G
12.43
0.58
0.88
14.19
11.49
LIC G
12.83
0.64
0.98
14.25
13.27
Benchmark:
Crisil 10 Yr Gilt Index
1.15
1.99
11.92
7.22
7.18
Crisil Composite Bond Fund Index
1.63
2.99
11.68
10.79
8.91

5
Year
9.39
9.11
9.07
9.40
8.89
-

3
Month
2.54
2.37
2.38
2.40
2.45
3.20
3.49

6.34
8.17

Rolling Return (%)

6
1
2
Month
Year
Year
5.23
10.30
9.44
4.88
9.73
9.17
4.93
9.82
9.24
4.99
10.01
9.46
5.01
9.75
8.99
7.68
15.29
8.24
16.40
-

3
Year
9.58
9.34
9.37
9.60
9.16
-

Standard
Deviation
(%)
0.25
0.24
0.22
0.24
0.23
0.25
0.26

Note: Returns are in % (Trailing & Rolling), below one year are absolute while for one year and above are CAGR. Rolling returns are more relevant for schemes that have longer NAV history.

RETAIL RESEARCH

Note:

Returns are as of July 31, 2015. Returns are in % (Trailing & Rolling), below one year are absolute while above one year are CAGR.

New entrants to NPS such as HDFC and LIC have started disclosing NAVs since 05-July-2013 and 02-July-2013 respectively. DSP BR Pension Fund Managers are currently not
active since July 2014.

Rolling returns are calculated for respective periods on daily basis. Data points taken from Jan 01, 2010 to July 31, 2015 (since inception in case of the latest entrants such
as HDFC and LIC). Rolling Returns give more realistic view of investment returns on non-lumpsum investments which are calculated for the given periods. They are average
of daily rolling of respective time frames. They are useful for examining the behavior of returns for holding periods especially when the investment is not lumpsum or onetime.

Trailing Returns are calculated to measure the return of the particular fund in a given period. These are typically point to point returns.

Standard Deviation is calculated from daily returns for last one year period. Standard Deviation measures the risk of daily returns on investments. Lower Standard
Deviation means lower the risk.

RETAIL RESEARCH Tel: (022) 3075 3400 Fax: (022) 2496 5066 Corporate Office
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RETAIL RESEARCH