HDFC Pension’s AUM crosses Rs 50,000 cr
HDFC Pension Management Company Ltd., a pension fund manager under the National Pension System (NPS) has crossed the milestone of Rs50,000 crore of Assets Under Management (AUM) on May 15th 2023.
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Hyderabad: HDFC Pension Management Company Ltd., a pension fund manager under the National Pension System (NPS) has crossed the milestone of Rs50,000 crore of Assets Under Management (AUM) on May 15th 2023.
Since its launch in 2013, the company’s (a wholly owned subsidiary of HDFC Life Insurance Company Ltd.,) AUM size has grown 400 per cent in a span of thirty three months from a base AUM of Rs10,000 crore, which was achieved in July 2020.
Sriram Iyer, Chief Executive Officer, HDFC Pension, said: “We are delighted to have crossed this milestone of Rs50,000 crore AUM and this validates our strong presence and achievement becomes even more significant as we complete ten years of business this year. NPS as a financial product plays a critical role in the process of retirement planning. The superior returns, attractive tax benefits, and low charges make for a strong customer proposition. With our AUM crossing the threshold of Rs50,000 crore, the effective fund management charges for our subscribers will reduce further, making the product more cost effective.”
HDFC Pension is one of the fastest growing legacy pension fund manager in India, under Retail and Corporate NPS segments with over 15,00,000 subscribers as on 1st May 2023. HDFC Pension has also been awarded as the 'Best Performing PFM' by Money Today for 3 consecutive years from 2019 to 2022.
