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Retirement fund body EPFO has decided to invest in corporate bonds in the AA+ investment grade, a notch lower than the earlier norm of AAA, a move that will help it park around Rs 3,000 crore per annum in such securities.
The decision to invest 2 per cent of investible deposits of the Employees Provident Fund Organisation (EPFO) was taken by its advisory body, Finance, Audit and Investment Committee (FAIC), at its meeting held today.
The source said that the decision was taken in this regard after CRISIL made a detailed presentation that the there are few options of investment in AAA rated bonds in the market and the body can explore the investments in AA+ rated corporate bonds.
EPFO is expected to have investible deposits of around Rs 1.5 lakh crore in the current fiscal. Thus, now it can invest around Rs 3,000 crore in AA+ rated corporate bonds in a year.
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