Last Updated: March 27, 2023, 14:59 IST
EPFO Meeting: The Employees’ Provident Fund Organisation, or EPFO, has continued to make investments in two Adani Group corporations, Adani Enterprises and Adani Ports, even after the port-to-energy conglomerate’s shares have been pounded rout following a harmful short-seller report.
According to a report in The Hindu on March 27, the subscribers are the captive traders as a result of the 2 shares are a part of the Sensex and the Nifty which can be tracked by EPFO-managed funds.
The EPFO, a retirement fund run by a belief below the Union labour ministry, administers the necessary provident fund and a pension scheme of workers registered below the scheme.
The EPFO invests 15% of its corpus into exchange-traded funds, or ETFs, linked to Nifty 50 and the Sensex, reported The Hindu. The retirement fund physique has additionally put aside 85% of its funding in corporations into exchange-traded funds monitoring Nifty 50.
Exchange-traded funds are a kind of funds that observe a pre-defined algorithm to monitor a basket of securities which can be used to elevate capital in the markets.
As of March 2022, the EPFO had invested Rs 1.57 lakh crore in exchange-traded funds. The social safety physique made one other funding of Rs 8,000 crore in the monetary yr 2022-’23, reported The Hindu.
After the hammering of the Adani group shares, specialists referred to as for larger transparency and accountability in the funding choices made by EPFO. Some have recommended diversifying the funding portfolio to yield higher returns in the long run.
The 233rd assembly of the CBT, chaired by Union labour and employment minister Bhupender Yadav, was scheduled for March 25-26 however was pushed again.
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