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EPFO trustees likely to raise ETF investments to 15% on May 27

Monday, May 15, 2017

The trustees of retirement fund body EPFO are likely to raise the investment limit in exchange traded funds (ETFs) to 15% of the investible deposits, from 10% at present, in the current fiscal.

The higher limit would help the Employees' Provident Fund Organisation's (EPFO) park around Rs 15,000 crore in stock markets in 2017-18 as its investible deposits are close to Rs 1 lakh crore annually. "The EPFO's apex decision making body, the Central Board of Trustees, headed by the Labour Minister, is likely to increase ETF investments to 15% for this fiscal," a source said. CBT had met on April 12, where the proposal was discussed in the presence of Labour Minister Bandaru Dattatreya.

It deferred the proposal as some of the employees' representatives had pressed for vetting the move by EPFO's advisory body Finance Audit and Investment (FAIC) committee. They had also raised the issue of having a definitive exit policy to liquidate investments in government securities, ETFs and state loans to maximise returns for its members.

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