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Bandaru Dattatreya says that EPFO money in equities is a long-term investment

The Employee Provident Fund Organisation (EPFO) has started investing in equities, would pump in around Rs 5,000-6,000 crore in this asset class by the current fiscal end and the further flow will depend on market returns, said a Union Minister.

The Union Minister of State for Labour Bandaru Dattatreya  said, “For the first time, EPFO has taken this new initiative. Through Exchange Traded Funds, we are going to have participation under equity class, The process has already begun.”

“Our portfolio managers, the SBI and others, they are on that job. Our Ministry has also formed some guidelines.With those guidelines and every month, we are progressing,” he further said.

“By end of this financial year (FY16), approximately Rs 5,000-6,000 crore will be in the markets. After that financial year, we will review the situation, how the things are going on, how the markets are giving benefits, then we will take further decisions,” he added.

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