Reliance Capital Top Fund Manager Of EPFO (05-Mar-2010)
EPFO has ranked Reliance Capital as the topmost retirement fund manager overall in order to provide good returns and invest money in quality assets, while SBI stood at the bottom.
A Labour Ministry source said that as per the Employees'' Provident Fund Organisation (EPFO) analysis, HSBC AMC and ICICI Pru AMC have been ranked the second and third respectively for their performance during the nine-month period ending December 2009.
Moreover, HSBC AMC churned out the highest yield (return) of 8.43 per cent followed by Reliance Capital at 8.41 per cent, as per the analysis placed before EPFO''s key advisory body, Finance and Investment Committee, last week.
However, SBI stood at the lowest position on all parameters including yield as well as maturity profile and asset quality profile.
On the basis of maturity profile, Reliance Capital AMC continues to perform the best on the said parameter followed by ICICI Pru AMC as well as HSBC AMC and SBI in that order.
However, on Asset quality profile, ICICI Pru AMC stood at the top followed by Reliance Capital, HSBC AMC and SBI.
Moreover, ICICI Pru has been ranked first on overall basis for managing fund since September 17, 2008 till December 31, 2009 followed by HSBC AMC, Reliance Capital and SBI.
Meanwhile, Reliance Capital reported 52% decline in its consolidated net profit at Rs 63 crore for Q3 ended December 31, 2009.
However, lower capital gains were booked in the quarter due to the planned partial stake sale later in 2010 in the operating businesses, subject to necessary approvals.
The total income of the company declined to Rs 1,488.8 crore for the December quarter, from Rs 1,573.5 crore in the same period previous fiscal.
As on December 31, 2009, the net worth of the company stood at Rs 7,832.5 crore , that is $2 billion.
On the other hand, on the standalone basis, it reported net profit of Rs 41 crore for the October-December quarter, down 64% over the year-ago period.
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