New Delhi, March 5 -- The annual report card for equity pension fund managers is out, and DSP's NPS Equity Fund has delivered a staggering 11.68% return in the last one year-five times higher than the second-best performer, which posted a modest 2.3%.

To match the score of DSP's fund, the new kid on the block, the sum of the funds that gave positive returns would need to be more than doubled. Among the 11 funds in this category, six recorded negative returns in the last year, according to the pension fund regulator's NPS Trust website.

A closer look at DSP's fund reveals an interesting pattern. At the end of 2024, 8.75% of its portfolio was in cash compared to Kotak Mahindra Pension Fund's 3.86%, the fund with the second-highest cash al...