Photo: MintHyderabad: Union labour minister Bandaru Dattatreya has said the Employees Provident Fund Organisation (EPFO) may invest more than Rs.6,000 crore in equity market during the current financial year. Last year, we had invested Rs.6,000 crore. Last year, EPFO had invested about Rs.6,000 crore through SBI Mutual Fund’s two index-linked ETFs (exchange-traded funds)—one to BSE’s Sensex and the other NSE’s Nifty. According to Dattatreya, the pension body has so far invested Rs.5,800 crore in shares of state-owned oil companies’ shares. However, the EPFO management decided to invest 5% of its incremental deposits in ETFs only during the last year, the minister added.

Source: Mint May 15, 2016 11:33 UTC