How Finance Fueled Students’ And Nonprofit’s Future

Finance Ministry may allow 5 pvt funds to manage pensions of govt staff

Far from passive idealism, students are increasingly concerned about doing something meaningful with their careers, including those who study finance.Theyre demanding to learn the principles of social impact, gain experience through internships and case studies, and even embed impactinvesting in their universities endowment policies. And, thoughinternships with large financial firms help to expose students to the field as well as enhance resumes, an internship with a firm that focuses on impact investment can be equally advantageous. The four of us are thrilled to be working for RSF Social Finance , a San Francisco-based impact investment firm that offers a different, and for us a more personally satisfying, experience. At the AshokaU Exchange in February 2013, we met Ted Levinson, Director of Lending atRSF Social Finance, and convinced him to give us the opportunity to gain experience in this innovative field.

Private sector pension corpus is managed by 8 players including three fund managers who manages the government employees’ corpus. The other five players are HDFC Pension Management Company Ltd, ICICI Prudential Pension Funds Management Company Ltd, Kotak Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd and DSP BlackRock Pension Fund Managers Pvt Ltd. The National Pension Scheme (NPS), which was introduced by the Central Government in January 2004 for its new entrants and subsequently extended to the private sector in May 2009, has accumulated a corpus of Rs 33,000 crore (as of March 2013) contributed by 50 lakhs subscribers. Last fiscal, the pension scheme for other than government employee with investment focus on corporate debt generated return of 14.19 per cent while investment in government debt earned 13.52 per cent.

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