EPFO may invest up to 15% of investable amount in equity mkts
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.
- Rosneft: EOL deal bans Ruias from re-entering oil refining, retailing for ever 22 Aug 2017 | PTI
- Govt gets Rs 42K cr tax so far in first filing under GST 22 Aug 2017 | PNS
- Infosys pulls down Sensex 22 Aug 2017 | PNS
- Infy chairman, co-chair must step down before CEO search: Bala 22 Aug 2017 | PTI
- Speculation over my future in Tata Motors annoying: Butschek 22 Aug 2017 | PNS
- Tata Motors to pump in Rs 4k cr this fiscal to launch products 22 Aug 2017 | PTI
- Tepid credit growth: RBI data missing non-bank, debt markets 21 Aug 2017 | PTI
- Aurobindo to widen US portfolio, enter new markets in Europe 21 Aug 2017 | PTI
- Delhi to host 4th India-International MSME & Startup Expo 2017 from 24 Aug 21 Aug 2017 | PNS
- Sikka saga:Institutions need to outlive founders, feel experts 21 Aug 2017 | PTI
Sunday EditionView All
20 Aug 2017 | AFP | Washington
The entire President’s Committee on the Arts and the Humanities, that includes Indian-Americans Jhumpa Lahiri and Kal Penn, has resigned over President Donald Trump’s controversial remarks after the racist violence in Virginia. In a letter signed by 16 of 17 committee members, including author Lahiri and actor Penn, Trump’s decision to withdraw from the Paris Agreement on climate change has also been cited as a reason for their resignation...
STATE EDITIONSView All
22 Aug 2017 | OP Agnihotri | LALKUAN
The 12,209 Kanpur Central- Kathgodam Garib Rath Express and 12,353 Howrah-Lalkuan super fast express, instead of their present route of Bareilly-Rampur-Lalkuan will ply on the Bareilly-Bhojipura-Lalkuan route. This decision of the railways will considerably decrease the distance between the two destination points and also result in noticeable time saving for the passengers...