EPFO has invested Rs.6,577 crore in exchange traded funds

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New Delhi, April 29 (IANS) The total amount invested by Employees’ Provident Fund Organisation (EPFO) in exchange traded funds (ETF) of the Nifty and Sensex-based index, as at the end of the last financial year, was Rs.6,577 crore, parliament was informed on Friday.

“Employee’s Provident Fund (EPF) has not invested in individual stocks. It has invested only 5 percent investible surplus in ETFs of Nifty and Sensex-based index. The total amount invested is Rs.6,577 crore as on March 31, 2016,” Minister of State for Finance Jayant Sinha said in a written reply to the Lok Sabha.

He said the investment limit had been determined by awareness of the risks investing more of EPFO funds in the stock market.

“Therefore, the Central Board of Trustees, EPF, has decided to invest only 5 percent of investible surplus in ETFs of Nifty and Sensex-based index,” the minister said.

Moreover, the Board of Trustees has decided to invest only in ETF, he added.

–IANS

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