×
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

I am with you, Pawar tells victims of social media trolls

15 Oct 2017 | IANS | Mumbai

Coming out in support of young victims of social media trolls, Nationalist Congress Party (NCP) President Sharad Pawar on Saturday exhorted them to speak out against the wrong policies of the Government and oppose growing incidents of intolerance and fascism across India. In an unique initiative, Pawar met around 35 youngsters who have been threatened on social media and/or booked by police for speaking out their minds against the Government and...

Read More

STATE EDITIONS

View All

23 lakh farmers registered under Bhavantar Bhugtan

17 Oct 2017 | Staff Reporter | Bhopal

Around 23 lakh farmers have got registered so far in Bhavantar Bhugtan Yojana launched today in Madhya Pradesh. The registration process was started from September 1...

Read More

Page generated in 0.5636 seconds.