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BREAKINGNEWS
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WhatNPSchangesmeanforyou

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BySanketDhanorkar,ETBureau|17Aug,2015,10.54AMIST

READMOREONSumitShukla|realestate|PensionFundRegulatoryandDevelopmentAuthority|NPS|
corporatebonds|BajpaiCommittee

SPOTLIGHT

Ifyouareanexistinginvestorinthe
NationalPensionSystem(NPS)or
Smoothflow

Makingitcount

ETSPECIAL: Lovevisualaspectofnews?Enjoy

planningtosubscribetoit,youmightwant
thisexclusiveslideshowstreat!
toconsidertheimpactofsomeproposed
changestothescheme.AmongaslewofreformsbeingconsideredbythePensionFund
RegulatoryandDevelopmentAuthority(PFRDA),themoneyofprivatesectorsubscribers
intheNPSmaysoonbeallowedtobeinvestedinIPOsofIndiancompanies.Activefund
managementmaybeintroduced,replacingthecurrentindexonlyequityinvestment.Will
investorsbenefitfromthesechanges?
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Rs4,000cr!That'swhattop75

cosspentonCSRthisyr
FirmsspentmorethanRs4,000crorelast
fiscal,thefirstyearaftergovtmandated
themtogiveawayapartoftheirprofitsfor
socialwork.

Art

LoanCentre

RADICALSHIFT

CreditCards

RealEstate

TaxSavers

More

Govt'smarketpricingofoilto
keepbabusatbay
TheNPSisagovernmentpromulgatedschemethatallowsinvestorstocontribute
Oilministryhopestoattractinvestors
regularlytowardstheirretirementbyinvestinginamixofgovernmentsecurities,
despitethefallincrudepriceswiththenew

corporatebondsandindexfunds.Atpresent,themaximumpermissiblelimitfor

policyformarginalfields,peggedon
investmentinequitiesunderNPSis50percent.Also,theinvestmentsinthiscategory
revenuesharing.

SensexfirmsmissCSRthresholdby
30%only7firmscomply
MphasispartnerswithIIITBforCSR
activities

TomorrowMakers

Insurance

Sponsored

Howmotorinsurance
policyaddoncovers
work

Dontavoidinsurance
becauseofthehikein
servicetax

aredonepassivelybymimickingtheNiftyindex.However,iftheproposedchangescome
through,fundmanagersmaybeallowedtomanagetheequitycorpusactivelyinsteadof
merelymimickingthebenchmark.
Also,theuniverseofinvestible
stocksmaybeexpandedto
includecompanieslistingon
theboursesforthefirsttime.
Thisinvestmentwouldbe
subjecttotheceilingof50per
cent.Thisapart,NPSfund
managersmaybeallowedto
investinRealEstate
InvestmentTrustsand
InfrastructureInvestment
Trusts,withacollectivecapof
5percent,respectively,aswellasprivateequityinvestmentsupto3percentofthe
corpus.Theseproposedchangeswouldmarkaradicalshiftfromtheearlierstructureof
theNPS.

KnowMore

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Commented

Youcouldbefilingafaultytaxreturnhere'showto
avoidgettingitrejected
Willtherealestatebubbleburstduetofallingsales
&risinginventories?
Fivestepstowardsfreedomfromfinancialworries

Expertsdifferovertheproposedchanges.Somearenotconvinced."Thiswouldinvolve
introducingadditionalriskelementsintheformofthefundmanager,"arguesManoj
Nagpal,CEO,OutlookAsiaCapital.
Besides,ifactivefundmanagementisintroduced,thefeestructureofNPSisboundtogo
up."Onecannothavethebestofbothworlds,"saysNagpal."WouldtheNPSensurethe
samequalityoffundmanagementatprevailingcost?Ifyouwantatrulylowcostproduct,
thentrackingapubliclytradedindexisthebestway."

AnotherunrealpeakforIndianrealty:Mumbai
residentialapartmentsoldforarecordRs202crore

However,someargue

MumbaisettohaveIndia'stallestcommercial
building

direction.PankaajMaalde,

More

thesearestepsintheright
certifiedfinancialplanner,
reckonstheshifttoactive
fundmanagementwill

NottobeMissed
SureshPrabhuinfuseslifeinto
railwayswithRs1.5lakhcrore
LICloan

ChinaluringIndianpharma
scientistswith3timeshigher
paytoboostformulations
segment

Howincreasedexcisedutyon
cigaretteshasmadethe
Indianmarketvulnerableto
Chinesebrands

IndianRailwayslaunches
threeITInitiatives

MarutiCiazSHVSlaunchedin
India,pricedfromRs8.23
Lakh

benefitinvestors.
"Activefundshavea
provenabilitytobeatthe
index,"saysMaalde,but
addsacaveat."Itwould
dependonwhois
managingthefund."Sumit
Shukla,CEO,HDFC
PensionFunds,oneofthe
currentdesignatedNPS
fundmanagers,also
supportsthemove.Heis
alsocomfortablewithNPS
investinginIPOsand
privateequity,asthe
necessaryduediligence
andriskmanagementwillbeadheredto.
Raisingtheinvestmentlimitinequitybeyond50percent,basedontheBajpaiCommittee
recommendations,hasalsobeendiscussed.
However,itisnotexpectedtobeconsideredrightnow.

ThreewaysSteveJobsmade
meetingsinsanelyproductive

The20highestpayingjobs
youcandofromhome

Thenewrulescouldbeannouncedwithinamonth.Prospectivesubscribersshouldwait
fortheannouncementandconsiderwhethertheschemeisaworthypropositionsuitedto
theirriskprofile.
StayontopofbusinessnewswithTheEconomicTimesApp.DownloaditNow!
Recommend 2peoplerecommendthis.Bethefirstofyour
friends.

Indiahashugeopportunityfor
appdriveneconomyin
consumerspace

BauBax:EntrepreneurHiral
Sanghavi'swearablejacket
hasraisedRs49crore

READMOREONSumitShukla|realestate|PensionFundRegulatoryandDevelopmentAuthority|NPS|
corporatebonds|BajpaiCommittee

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