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Decision on increasing EPFO investments in ETF in next 15 days : Minister

Decision  on increasing EPFO investments in ETF in next 15 days : Minister

Hyderabad, Aug 21 (UNI) A decision on increasing EFPO investments in Exchange Traded Funds (ETF) will be taken in next 15 days, Union Minister of State for Labour and Employment Bandaru Dattatreya said today. Talking to National News Agencies ---- UNI and PTI, Mr Dattatreya said an emergency meeting of Central Board Trust (CBT) of EPFO was called for the purpose. The final decision on how much will be increased will be taken in the CBT Meeting., he said, adding that at present 5 per cent of EPFO funds was invested in ETFs. Mr Dattatreya said as on July 31, 2016, the amount invested in ETF by EFPO was Rs 7,468 crore. Market value of this as on date was Rs 8,372 crore. This show a positive return of 12.10 per cent, he added. The tenure of SBI Mutual Fund as ETF Manufacturer for EPFO lapsed on June 30, 2016, Mr Dattatreya said besides SBI Mutual Fund, the CBT also selected UTI Mutual Fund to invest in ETFs. In the meanwhile, funds amounting to Rs 900 crore has been parked/invested in Liquid Mutual funds. Such Liquid Mutual Funds earned around 7 per cent (approximately). This amount will be withdrawn and invest in ETF by SBI Mutual Fund and also UTI Mutual Fund, Mr Dattatreya said. UNI VV CS 1322

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