The more-than-$100 billion Employees' Provident Fund Organisation (EPFO) intends to place an initial 1 per cent of its investments in exchange traded funds, increasing to 5 per cent of the annual total in equity products.
New Delhi: Starting in July, India's state-run pension and social security fund will invest about $800 million in equities in the current fiscal year, Labour Minister Bandaru Dattatreya said, in a long-awaited move that may help finance an ambitious privatization programme.
The more-than-$100 billion Employees' Provident Fund Organisation (EPFO) intends to place an initial 1 per cent of its investments in exchange traded funds, increasing to 5 per cent of the annual total in equity products by March 31.
($1 = 63.6100 rupees)
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