Pension fund regulator Supratim Bandyopadhyay said on Tuesday that allowing pension fund managers (PFMs) to invest in startups is not off the table but the valuation process of investing in these companies is a hurdle at present.
The comments assume importance in the wake of reports that the government is holding talks with the Employees’ Provident Fund Organsiation (EPFO) and the Life Insurance Corporation (LIC) on investing in startups.
“All investments made by LIC and EPFO are not mark-to-market. Like mutual funds, we have to give the value of funds at the end of the day, which is called net