Mutual funds angle for provident funds

 Mutual funds are now targetting provident funds (PFs) to build up a larger asset base.

 The rush to launch gilt plans follows the recent finance ministry notification that provident funds could now invest up to 70 per cent of their incremental accretions in dedicated gilt funds.

 In fact, the asset management industry is actively canvassing support with PFs, explaining to them the benefits to shifting their incremental inflows with mutual funds.

 Pankan Razdan, deputy CEO at Prudential ICICI said,