×
E-PAPER ▾

E-paper

Business

EPFO may invest up to 15% of investable amount in equity mkts

| | Hyderabad

Buoyed by the surging stock markets, the Employees Provident Fund Organisation (EPFO) may propose to invest up to 15 per cent of its investable amount in equity markets during the next fiscal, Union Labour Minister Bandaru Dattatreya said.

“We are proposing to invest up to 15 per cent during the next year. Central Board of Trustees (CBT) meeting will be held on March 30. We will seek its opinion. So far, during the past one-and-half year we have invested `18,069 crore. We are getting good yield. It is encouraging,” Dattatreya told the news agency.

According to the minister, so far in the current year, the Provident Fund body invested the amount in the two index-linked ETFs (Exchange Traded Funds) -- the BSE’s Sensex and the NSE’s Nifty which yielded a return of 18.13 per cent.

He said the investment proposal will be put in the CBT meeting to be held on March 30 for the final call.Dattatreya said the EPFO through fund managers had invested Rs 14,700 crore in ETFs in the current financial year.

A senior official said the Ministry of Finance gave its consent to the EPFO to invest from 5 per cent to 15 per cent of the investable income of the organisation every year.

Investable income is the net income of the EPFO from the investments it had already made in various forms, fresh contributions among others.      This year the investable income would be about Rs 1.40 lakh crore, the official said.

The EPFO had started investing in ETFs in August 2015. EPFO manages a corpus of over Rs 8 lakh crore.       

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

N Korea blames US for tensions in rare UN talks

10 Dec 2017 | AFP | Seoul

North Korea blamed US "nuclear blackmail" for soaring tensions over its weapons programme in rare meetings with a senior UN official, but agreed to regular communication with the organisation, state media said today. Jeffrey Feltman arrived in Beijing today after wrapping up a five-day visit to Pyongyang aimed at defusing the crisis, just a week after North Korea said it test-fired a new ballistic missile capable of reaching the United States...

Read More

STATE EDITIONS

View All

Jayant Sinha assures enquiry into Zaira case

11 Dec 2017 | PNS | Ranchi

Minister of State for Civil Aviation Jayant Sinha on Sunday condemned the alleged molestation of Bollywood actress Zaira Wasim by a co-passenger on board a Delhi-Mumbai flight. The Minister has assured a fair enquiry into the matter and suggested that the actress should get an FIR registered first so that the process of investigation could be started by the competent authorities...

Read More

Page generated in 0.3755 seconds.