Nippon India, IPru MF's EPFO play gets going; move to help shore up AUM

Join public sector-linked peers SBI and UTI MF

The Employees’ Provident Fund Organisation (EPFO) made its maiden investments in the National Stock Exchange Nifty50 and the S&P BSE Sensex exchange-traded funds (ETFs) offered by Nippon India and ICICI Prudential (IPru) in July. These two fund houses are now in the company of public sector bank-linked players SBI Mutual Fund (MF) and UTI MF, whose products have traditionally been used by the retirement fund body.

EPFO’s investment corpus was routed through Nippon and IPru nearly three months after they were approved for empanelment with the social security organisation.

Over the years, EPFO has exclusively invested in Nifty50 and Sensex