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Friday, June 9, 2023

HDFC Pension Management Company crosses Rs 50K crore AUM milestone

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HT Bureau

GUWAHATI, May 26: HDFC Pension Management Company Ltd., the fastest-growing legacy Pension Fund Manager in India’s National Pension System (NPS), achieved a significant milestone by crossing Rs 50,000 crore in Assets Under Management (AUM) on May 15, 2023. Since its establishment in 2013 as a wholly-owned subsidiary of HDFC Life Insurance Company Ltd., the company has witnessed remarkable growth, with its AUM size expanding by 400% in just thirty-three months from the initial Rs 10,000 crore achieved in July 2020.

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With over 1.5 million subscribers, HDFC Pension is the leading Pension Fund Manager in India, catering to both the retail and corporate segments of the NPS. The company’s rapid growth and increasing subscriber base have played a key role in its achievement of this significant milestone.

Expressing his pride in reaching this milestone, Sriram Iyer, the chief executive officer of HDFC Pension, said, “This is an extremely proud moment for us. Crossing the Rs 50,000 crore AUM mark validates our strong market presence. As we celebrate our tenth year of business, this achievement holds even greater significance. It reflects the trust that our esteemed subscribers have placed in our organization. We extend our heartfelt gratitude to our subscribers, corporate partners, Points of Presence (POPs), and distributors for their confidence, trust, and continuous support, which have enabled our company to grow over the years.”

He further emphasized the importance of retirement planning and the role of NPS in securing the future of working individuals. Highlighting the superior returns, attractive tax benefits, and low charges associated with NPS, Iyer stated, “With our AUM crossing Rs 50,000 crore, the effective Fund Management Charges for our subscribers will reduce further, making the product even more cost-effective. I hope more and more Indians opt for this instrument, thereby securing their golden years.”

HDFC Pension’s dedication and commitment to providing exceptional services have been recognized by receiving the prestigious ‘Best Performing PFM’ award from Money Today for three consecutive years from 2019 to 2022. This accolade further solidifies the company’s position as a leading player in the pension fund management industry.

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The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur
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