Photo: Priyanka Parashar/MintNew Delhi: India’s retirement fund manager Employees’ Provident Fund Organization (EPFO) will invest at least Rs18,000 crore in stocks in the current financial year, adding fuel to a stock market that is already on fire. EPFO functions under the Union labour ministry and started investing in stocks in August 2015. EPFO has an annual incremental corpus of more than Rs1.2 trillion and 15% of that will be at least Rs18,000 crore. The Sensex, India’s most closely followed stock market index, was trading at 28,301.27 just three months ago. “EPFO does not have an exit policy yet, which means their equity exposure is not well thought thro-ugh,” said D.L.

Source: Mint May 15, 2017 18:22 UTC