Business Other News 22 May 2017 EPFO to take call on ...

EPFO to take call on 15 per cent investment

DECCAN CHRONICLE.
Published May 22, 2017, 3:20 am IST
Updated May 22, 2017, 3:20 am IST
“During 2015-16 we invested Rs 6,577 crore and Rs 14,982 crore in 2016-17,” Mr Dattatreya said.
Union minister Bandaru Dattatreya
 Union minister Bandaru Dattatreya

Hyderabad, May 21: Union minister Bandaru Dattatreya said on Sunday that the EPFO would take a final call on raising the investment limit in exchange traded funds (ETFs) to 15 per cent from 10 per cent.

Mr Dattatreya said the meeting of the Central Board of Trustees of the Employees Provident Fund Organisations would be held on May 26. “One of the major agenda items is ETF investments,” Mr Dattatreya said. The labour ministry will take a final call.

 

“Till now we have done 10 per cent investment. Now in the agenda discussion we have to take decision of (raising it) from 10 to 15 per cent,” he said.

As of April 21 this year an investment of Rs 21,559 crore had been made and its market value stood at Rs 23,845 crore with absolute return of 10.6 per cent till March 31. The absolute return as on April 21 was 11.5 per cent, he said.

“During 2015-16 we invested Rs 6,577 crore and Rs 14,982 crore in 2016-17,” Mr Dattatreya said.

“My contention is results are encouraging... returns are showing improvement so by seeing this condition the CBT will take a decision,” he said.

Asked if the meet would decide to increase the quantum of investments, he said: “Positively... it is most likely.” 

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Location: India, Telangana, Hyderabad




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