NATIONAL PENSION SYSTEM TRUST

Recruitment Notice NPS

nps-sadmin — Fri, 27 Mar 2026 11:42:54 +0000

Recruitment Notice NPS nps-sadmin Fri, 03/27/2026 - 17:12

NPS Bharat Fund of Funds, driving better financial outcomes.

site_admin — Fri, 27 Mar 2026 04:40:52 +0000

NPS Bharat Fund of Funds, driving better financial outcomes. site_admin Fri, 03/27/2026 - 10:10

NPS Bharat Fund of Funds, driving better financial outcomes.

News Date

Thu, 03/26/2026 - 12:00

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What are the Big five Auditors?

site_admin — Tue, 24 Mar 2026 12:34:40 +0000

What are the Big five Auditors? site_admin Tue, 03/24/2026 - 18:04

Big Five auditors are Deloitte, PwC, EY, KPMG and Grant Thorton.

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Which AIFs are eligible to Apply?

site_admin — Tue, 24 Mar 2026 11:52:17 +0000

Which AIFs are eligible to Apply? site_admin Tue, 03/24/2026 - 17:22

AIFs may assess their eligibility prior to application by referring to the prescribed eligibility criteria. Click here to review the detailed eligibility requirements.

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SEBI Master Circular for Alternative Investment Funds (AIFs)

site_admin — Mon, 23 Mar 2026 11:28:30 +0000

SEBI Master Circular for Alternative Investment Funds (AIFs) site_admin Mon, 03/23/2026 - 16:58

Date

Tue, 05/07/2024 - 12:00

Document

Download (1.56 MB)

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Regulations

Eligibility Criteria

nps-sadmin — Thu, 12 Mar 2026 05:05:51 +0000

Eligibility Criteria nps-sadmin Thu, 03/12/2026 - 10:35

Ensuring Regulatory Compliance and Fiduciary Standards

To ensure alignment with regulatory requirements and fiduciary standards, the following eligibility conditions shall apply:

AIF Category

The applicant fund must be registered with SEBI as a Category I or Category II Alternative Investment Fund (AIF).

Compliance with PFRDA Act, 2013

The AIF shall not invest in securities of companies or funds incorporated or operated outside India in violation of Section 25 of the Pension Fund Regulatory and Development Authority Act, 2013.

Minimum Target Corpus

The target corpus of the AIF should not be less than ₹100 Crore (or such minimum amount as may be prescribed from time to time).

Creditworthiness of Key Members

The CIBIL score of all Key Members of the fund should be above 700.

Legal Eligibility of Key Members

All Key Members must be legally eligible to be appointed as a Director or to hold a managerial position under applicable Indian laws.

Regulatory and Legal Clean Record

No Key Member should have any pending proceedings, investigations, or cases under Indian laws relating to money laundering, including under the Prevention of Money Laundering Act, 2002 (PMLA).

Check Eligibility

Definition: For the purpose of the above criteria, Key Members shall mean Directors (in case of a company) or Partners (in case of a partnership/LLP).

Frequently Asked Questions

nps-sadmin — Wed, 11 Mar 2026 12:53:17 +0000

Frequently Asked Questions nps-sadmin Wed, 03/11/2026 - 18:23

Coming Soon

nps-sadmin — Wed, 11 Mar 2026 12:52:52 +0000

Coming Soon nps-sadmin Wed, 03/11/2026 - 18:22

This page is under construction.

About

nps-sadmin — Wed, 11 Mar 2026 12:51:46 +0000

About nps-sadmin Wed, 03/11/2026 - 18:21

What is the NPS Bharat Fund of Funds (NPS Bharat FoF)

The NPS Bharat FoF has been established under NPS Trust, to enable calibrated participation of pension savings in the Alternative Investment Fund (AIF) ecosystem, while safeguarding subscriber interests.

Within the regulatory framework, The NPS Bharat FoF is conceived as a governance led institutional platform designed to enhance long term risk adjusted returns, strengthen portfolio diversification, and align pension savings prudently with India's long term growth trajectory.

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The NPS Bharat Fund of Funds is proposed to be formally launched at the hands of the Hon'ble Union Minister of Finance, underscoring its national importance and its commitment towards enhancing subscriber returns by generating sustainable 'alpha' through prudent, long-term investment strategies.

Strategic Purpose & Value Proposition

Empowering India's Growth Vision

One of India's largest and fastest growing pools of patient domestic capital. As the Indian economy advances toward the cherished vision of Viksit Bharat 2047, several high growth and long gestation sectors require stable domestic institutional capital for unlocking the growth potential.

At the same time, best practices adopted by global pension funds indicate measured allocation to alternative assets as a means of:

Enhancing Diversification

Improving Long term Return Potential

Accessing Unlisted Growth Opportunities

Aligning with Long duration Liabilities

Investment Thesis & Philosophy

Building a Robust Framework for Sustainable Growth

Investment Strategy

Diversified investments in India across SEBI registered Alternative Investment Funds (Cat I & Cat II) including Private Equity, Venture Capital, Private Credit, Infrastructure, and Hybrid Strategies.

Sectoral & Geography Agnostic

Sector agnostic, India focused mandate across high growth and strategic sectors, driven by high governance standards, excellent manager quality, and better risk return potential.

Manager Selection Philosophy

Emphasis on track record, governance, alignment of interest, institutional processes, transparency, and ability to generate sustainable alpha.

Core Values

Emphasis on fiduciary responsibility, transparency, accountability, prudence, long term orientation, and alignment with subscriber interests.

Guiding Principle

The NPS Bharat FoF shall operate under one overarching commitment:

"To protect and grow subscriber contribution responsibly through disciplined, governance led participation in the alternative investment ecosystem."

Expected Outcomes

Driving Excellence and Building Trust

Improved Retirement Outcomes

Stronger Diversification

Institutional Participation in Alternatives

Establishment of Global quality Governance Standards

Core Objective of Viksit Bharat Fund

nps-sadmin — Wed, 11 Mar 2026 12:51:07 +0000

Core Objective of Viksit Bharat Fund nps-sadmin Wed, 03/11/2026 - 18:21

Enhance Long-Term Risk-Adjusted Returns for NPS Subscribers

The primary objective of the FoF is to improve long-term, risk-adjusted returns for NPS subscribers by:

Investing beyond traditional listed markets by participating in high-quality alternative investments that are otherwise not easily accessible
Capturing appropriate illiquidity premium over long horizons
Enhancing portfolio efficiency through diversified exposure
Ensuring better alignment between investments and long-term pension obligations

All allocations will be evaluated strictly through a fiduciary lens.

Strengthen Portfolio Diversification

The FoF aims to enhance resilience across market cycles by adding exposure to diversified mix of alternative investment strategies, including but not limited to:

Private Equity
Venture Capital
Private Credit
Infrastructure Funds
Growth Capital
Hybrid Strategies

Diversification will be achieved across:

Strategies

Fund Managers

Vintage Years

Risk-Return Profiles

Economic Sectors

Alternatives will complement — not substitute — traditional equity and debt allocations.

Maintain a Sector-Agnostic Mandate

The Viksit Bharat FoF will operate under a sector-agnostic mandate. The Fund will remain open to investments across a broad range of sectors, including but not limited to:

Financial Services

Deep Technology & Digital Innovation

Defence & Aerospace

Pharmaceuticals & Healthcare

Manufacturing & Industrial Growth

Infrastructure & Logistics

Climate & Sustainability Solutions

MSME & Entrepreneurship Ecosystem

Consumer & Emerging Sectors

Capital deployment will be driven by governance standards, fund manager quality, and risk-return potential — not by sector bias.

Enable Responsible Participation in India's Growth

While subscriber interest remains paramount, the FoF seeks to facilitate prudent participation of pension savings in India's structural transformation.

Deepen domestic institutional participation in alternatives

Support capital formation in emerging and strategic sectors

Strengthen the role of long-term domestic savings in national development priorities

Financial prudence will remain the overriding consideration.