NEW DELHI, Nov 22: Retirement fund body EPFO is likely to invest Rs 5,750 crore in stock market funds in the current fiscal, as against the earlier plan of Rs 5,000 crore.
This has been made possible as the Employees’ Provident Fund Organisation (EPFO) has estimated receiving Rs 1.15 lakh crore as incremental deposits during this fiscal as against the earlier projection of Rs 1 lakh crore.
Earlier this year, EPFO had decided to invest 5 per cent of its incremental deposits in exchange traded funds (ETFs), which came to about Rs 5,000 crore.
Now, since the incremental deposits are estimated at Rs 1.15 lakh crore, the body’s investments in ETFs will also go up to around Rs 5,750 crore, a source said. In the first seven months of 2015-16, EPFO has invested Rs 2,322.1 crore in ETFs as part of its planned investment. EPFO entered stock markets on August 6 this year after government notified new investment norms allowing it to invest minimum of 5 per cent and up to 15 per cent of its incremental deposits in equity or equity related schemes. (PTI)
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