New Delhi: 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 the CRISIL, it said.
Employees' Provident Fund Organisation (EPFO) has 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 percent respectively.
On the portfolio yield criteria, SBI generated the highest return of 9.36 percent, followed by the ICICI Securities Primary Dealership Ltd and Reliance Capital AML with 9.33 percent each.
HSBC AMC earned an yield of 9.22 percent on investments at par with the benchmark rate set for the said period.
On asset quality criteria is concerned which holds 10 percent 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 which holds 5 percent 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 percent against the benchmark yield of 9.16 percent in the period under review.
SBI earned an yield of 9.47 percent on investment made by it, followed by Reliance Capital AML at 9.45 percent and ICICI Securities Primary Dealership Ltd at 9.43 percent during the six-month period.