Tuesday, 29 November 2016

EPFO seeks clear exit norms on equity invstments from govt

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The Employees Provident Fund Organization (EPFO) is seeking a clear exit policy on its equity investments from the government before deploying any more money in the market. The EPFO started putting some of its Rs 1 lakh crore-plus of assets under management into equity markets starting August 2015. Since then, it invested Rs 10,500 crore into equities. In September, the government had directed the EPFO to increase its investments into equities to at least 10 percent of total deposits. 

The EPFO will be writing to the Labour and Finance Ministries to form an 'effective' exit policy and will consult fund managers before submitting proposals to the government. SBI and UTI Mutual Funds currently manage the market investments of EPFO.

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