Country's largest lender SBI's pension corpus could be regulated by the Pension Fund Regulatory and Development Authority, opening a new area for the interim regulator. "We have given approval to SBI for management of its pension corpus by our fund managers and now they are talking with its trust," a PFRDA official said. Regulating the corpus of companies is a new area for the interim regulator. Till now, PFRDA-appointed fund managers, under the New Pension System (NPS), were handling only the corpus of individuals. Six PFRDA-appointed fund managers IDFC Mutual Fund, Kotak Mahindra, SBI, UTI Asset Management, ICICI Prudential Life Insurance and Reliance MF are handling the corpus under the NPS, which was thrown open to all citizens from May 1 this year. There are 22 contact and collection centres including SBI, ICICI Bank, the Postal Department, IDBI Bank, Oriental Bank of Commerce, Axis Bank and Union Bank of India for all citizens' scheme.
A manager may be the difference between the best and worst funds. Here's how you can find the right one Does a mutual fund manager make a difference to your investment? The answer may not be as easy as you think, since most best-performing mutual funds have moved away from individualistic fund management to process-driven methods, limiting the scope of an individual's role in investment decisions. In fact, many fund managers would speak at length about how the "system" their fund house has in place makes their task of picking stocks easy even though it restricts their freedom. Still, the question is important, especially after recent reports that the Securities and Exchange Board of India ( Sebi ) may ask fund managers to disclose to investors their track record of managing money. Let us take a look at the universe of large-cap funds over the past five years. According to Value Research, an independent mutual fund tracking firm, the topper in the category is DSP...
