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.
Tax Plan is one of the better performing schemes from Religare Asset Management. Existing investors can redeem their investment after three years. But given the scheme's performance, they can continue to stay invested Given the mandated lock-in period of three years, tax saving schemes give the fund manager the leeway to invest in ideas that may take time to nurture. Religare Tax Plan's investment ideas revolve around 'High Growth', which the fund manager has aimed to achieve by digging out promising stories/businesses in the mid-cap segment. Within the space, consumer staples has been the centre of attention for the last couple of years and can be seen as one of the key reasons for the scheme's outperformance as compared to the broader market. It has, however, tweaked its focus and reduced exposure in midcaps as they were commanding a high premium. The strategy seems to have worked as it returned a 22% gain last year. Religare Tax Plan has outperformed BSE 100...
