Buoyed by strong stock markets, labour Minister Bandaru Dattatreya has said the Employees Provident Fund Organisation may invest up to 12 per cent of its investable amount in equities over a period of time.
According to the minister, as on June 30, the EPFO invested Rs7,468 crore in two index-linked ETFs (Exchange Traded Funds) -- one to the BSE’s Sensex and the other to NSE’s Nifty -- and as of now the market value of the investment stood at Rs8,024 crore with 7.45 per cent yield.
“There will be a CBT meeting before July 22. We may take a decision on the quantum of investments to be made in ETF. We are in discussions with Bombay and National Stock Exchanges also. The investment will certainly increase (over last year).