EPFO to invest about Rs 410 crore in ETFs every month
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Retirement fund body EPFO will invest around Rs 410 crore in exchange trade funds (
"
The EPFO has received an average monthly incremental deposits of Rs 8,200 crore during this financial year so far. Thus, 5 % of incremental deposits comes to around Rs 410 crore.
The Employees'
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An ETF is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.
Following the CBT decision, Labour Ministry had notified new investment pattern in April which provided that EPFO will invest a minimum of 5 per cent and up to 15 per cent of incremental deposits in equity or equity-related schemes.
However, EPFO has not invested in any ETF so far, the official said that SBI Mutual funds has be asked to handhold the body for its investments in the ETF and understand the dynamics of stock market.
(Image: Indiatimes)
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