EPFO to allocate equity investments equally in Nifty and Sensex firms

Decision against hiring private fund managers

The Employees’ Provident Fund Organisation (EPFO) has decided against hiring private asset management companies for managing its annual corpus to the tune of Rs 1.5 trillion. 

The EPFO, a body which handles the provident fund savings of private sector employees, has hired state-owned State Bank of India (SBI) Funds Management Private Limited and UTI Asset Management Company to manage its funds, a senior official said. The decision was taken by the EPFO’s central board of trustees (CBT), led by Labour and Employment Minister Santosh Kumar Gangwar, in a meeting in Hyderabad on Wednesday. The EPFO further decided to equally distribute its