EPFO gives a nod for diversification of investments to upto 5% of annual deposits
By MYBRANDBOOK
The apex body of the Employees’ Provident Fund Organisation (EPFO), The Central Board of Trustees (CBT) has taken an important decision regarding investments. At its 229th meeting, the central board of the EPFO gave a nod for investing up to 5% of the annual deposits in alternative investments including infrastructure investment trusts (InvITs), reported a news source.
As per another news source, the Central board of trustees of EPFO has given in- principle approvals to invest in public sector InvITs and bonds, though on a case-to-case basis, to be decided by the Finance Investment and Audit Committee (FIAC).
An Infrastructure Investment Trust (InvITs) is like a mutual fund, which enables direct investment of small amounts of money from possible individual/institutional investors in infrastructure to earn a small portion of the income as return.
The decisions will indicate that EPFO is diversifying its investments into asset classes. It will improve the yield on investments but at the same time will carry a fair amount of risks.
So far, the EPFO has invested only in Exchange Traded Funds (ETFs) through ETF manufacturers (SBI-Mutual Fund and UTI-Mutual Fund) and not in individual shares.
The equity investment of the EPFO was Rs 31,025 crore in 2020-21, Rs 32,377 crore in 2019-20 and Rs 27,743 crore in 2018-19.
In April 2021, the labour ministry had notified changes in EPFO investment options to include alternative investment funds.
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