State Bank of India has outperformed private sector peers, including HSBC AMC and Reliance Capital AML, in managing retirement fund body EPFO’s corpus.

SBI has been placed at top position with a score of 99.79 out of 100 for managing EPFO funds during November 1, 2011 to September 30, 2012, said a report on financial performance prepared by rating agency Crisil.

ICICI Securities Primary Dealership Ltd has been ranked second with a score of 99.75, followed by Reliance Capital AML at 99.58 and HSBC AMC at 99.51 by Crisil, it said.

Employees’ Provident Fund Organisation appointed Crisil in December 2010 to analyse the periodic performance of its fund managers.

Crisil did the performance evaluation of the four fund managers on three broad criteria including portfolio yield, asset quality and average maturity giving weight of 85, 10 and 5 per cent respectively.

On the portfolio yield criteria, SBI generated the highest return of 9.36 per cent, followed by the ICICI Securities Primary Dealership Ltd and Reliance Capital AML with 9.33 per cent each.

HSBC AMC earned a yield of 9.22 per cent on investments at par with the benchmark rate set for the said period.

On asset quality criteria (holds 10 per cent weight), ICICI Securities Primary Dealership Ltd was ranked at top position, followed by SBI, Reliance Capital AML and HSBC AMC.

On the basis of average maturity criteria (5 per cent weight), ICICI Securities Primary Dealership Ltd was ranked at top position followed by HSBC AMC, Reliance Capital AML and SBI.

During the current financial year from April 1, 2012 to September 30, 2012, HSBC generated the maximum yield of 9.53 per cent against the benchmark yield of 9.16 per cent in the period under review.

SBI earned a yield of 9.47 per cent on investment made by it, followed by Reliance Capital AML at 9.45 per cent and ICICI Securities Primary Dealership Ltd at 9.43 per cent during the six-month period.

(This article was published on February 5, 2013)
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