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NSE Indices – AIF Benchmark Report Highlights


Considering the rising importance of AIFs as an asset class for investors, NSE Indices Ltd. (appointed by IVCA as one of the benchmarking agencies) has created a suite of benchmark indices to measure returns across various Categories of AIFs. The Nifty Alternative Investment Fund (AIF) Benchmark Report aims to provide the users insights into the aggregate historical performance of various categories of AIFs in India. This increased transparency will benefit investors and facilitate comparison of AIFs with their peers and with public market equivalents, where applicable.

NSE Indices also launched its First ever sub–category level report for the period ended 31st March 2022, which features a host of finely curated sub-category indices to enable a more nuanced benchmarking of AIF performances.

We have now published the fourth iteration of the sub-category report for the period ended September 30, 2023.

Performance Highlights – September 2023 

CATEGORY I                         

Vintage Year

Scheme

Count

INR

USD

Pooled XIRR (%)

Pooled DPI

Pooled RVPI

Pooled TVPI

Pooled XIRR (%)

Pooled DPI

Pooled RVPI

Pooled TVPI

FY 2014

5

11.46%

1.19

0.64

1.84

7.77%

1.01

0.51

1.52

FY 2015

6

9.00%

0.98

0.67

1.65

6.06%

0.88

0.52

1.40

FY 2016

15

25.18%

0.58

2.75

3.33

21.10%

0.52

2.27

2.79

FY 2017

11

32.12%

0.35

2.50

2.84

27.12%

0.32

2.16

2.48

FY 2018

9

25.17%

0.39

1.54

1.93

20.46%

0.37

1.37

1.73

FY 2019

12

30.88%

0.05

2.25

2.30

25.85%

0.05

2.00

2.04

FY 2020

15

27.07%

0.05

1.67

1.72

21.49%

0.04

1.51

1.56

FY 2021

4

25.41%

0.02

1.50

1.52

19.38%

0.01

1.38

1.39

FY 2022

6

10.85%

0.01

1.10

1.11

5.44%

0.01

1.05

1.06

FY 2023

8

-17.91%

0.00

0.83

0.83

-20.74%

0.00

0.80

0.80

Total Schemes

91

 

Data as of 30th September 2023; Returns and multiples are calculated on a post-expenses, pre-carry, and pre-tax basis.

DPI: Distributions to paid-in capital, RVPI: Residual Value to paid-in capital, TVPI: Total Value to paid-in capital

Benchmark metrics are published starting from that vintage year in which at least 2 schemes are available.

RBI reference rates are used for calculation of metrics in USD terms.

Please refer the full report for complete scheme eligibility criteria and number of schemes excluded from calculation of above benchmarks

CATEGORY II

Vintage Year

Scheme

Count

INR

USD

Pooled XIRR (%)

Pooled DPI

Pooled RVPI

Pooled TVPI

Pooled XIRR (%)

Pooled DPI

Pooled RVPI

Pooled TVPI

FY 2014

12

10.76%

1.21

0.08

1.28

7.97%

1.14

0.06

1.20

FY 2015

8

6.63%

0.83

0.49

1.33

3.49%

0.77

0.39

1.16

FY 2016

15

15.32%

0.77

1.06

1.82

11.79%

0.72

0.87

1.59

FY 2017

35

12.70%

0.70

0.82

1.52

8.68%

0.65

0.68

1.33

FY 2018

43

16.37%

0.63

1.04

1.67

11.92%

0.58

0.88

1.46

FY 2019

55

23.05%

0.47

1.16

1.63

18.36%

0.45

1.04

1.49

FY 2020

53

16.33%

0.46

0.87

1.32

11.59%

0.44

0.78

1.23

FY 2021

36

14.50%

0.55

0.67

1.21

9.41%

0.53

0.61

1.14

FY 2022

90

10.36%

0.15

0.97

1.13

4.80%

0.15

0.91

1.06

FY 2023

38

1.55%

0.13

0.88

1.01

-1.55%

0.13

0.86

0.99

Total Schemes

385

 

Data as of 30th September 2023; Returns and multiples are calculated on a post-expenses, pre-carry, and pre-tax basis.

DPI: Distributions to paid-in capital, RVPI: Residual Value to paid-in capital, TVPI: Total Value to paid-in capital

Benchmark metrics are published starting from that vintage year in which at least 2 schemes are available.

RBI reference rates are used for calculation of metrics in USD terms.

Please refer the full report for complete scheme eligibility criteria and number of schemes excluded from calculation of above benchmarks

CATEGORY III

Period

Benchmark Returns

Public Market Indices Returns (INR)

Asset Weighted

INR

Asset Weighted

USD

Nifty 50

TR

Nifty Total

Market TR

Nifty Composite Debt TR

Since Inception*

14.71%

11.54%

14.47%

16.33%

8.15%

5 Years

13.15%

10.13%

13.77%

15.14%

8.02%

3 Years

20.18%

15.54%

21.87%

24.73%

5.15%

2 Years

6.97%

1.14%

6.85%

8.84%

4.47%

1 Year

15.02%

12.93%

16.06%

18.52%

7.58%

Data as of 30th September 2023; Total schemes considered for above analysis – 228

Returns are calculated on a post-expenses, pre-carry, and pre-tax basis.

RBI reference rates are used for calculation of metrics in USD terms.

*Indices have been created from the quarter in which at least three schemes were available i.e., September 2013

Please refer the full report for details of complete scheme eligibility criteria and number of schemes excluded from calculation of above benchmarks

 

Form:

Updated on: 12/03/2024