Reply To:
Name - Reply Comment
Last Updated : 2024-04-19 00:03:00
The members of the Employees’ Provident Fund (EPF) have received approximately 9.0 percent return on their balances in 2020 after receiving 9.5 percent in 2019, as the Central Bank vowed to maintain an attractive return for the incumbent year as well.
There were some concerns over the returns that the members of the country’s largest annuity fund received in 2020 as the interest rates were on a fast descent. The EPF accounts for the 2020 are now under audit.
The over Rs.3.0 trillion Fund has diversified its investments in various instruments from government securities, corporate bonds to equities.
Equities performed extremely well in 2020 and the bull run has continued to this year up to now and the Central Bank is mulling amendments to EPF’s investment guidelines.
Through these amendments the Fund expects to rebalance the investment portfolio to generate a high risk-adjusted rate of return compared to market rates, while seeking alternative investment avenues to diversify the investment portfolio, given the current interest rate environment.
Responding to a question whether the EPF would consider realising certain equity investments it earlier made given the current market bull run, the Central Bank said the decisions would be up to the EPF investment committee which meets regularly.
The EPF came under heavy flack during 2010-2014 period for allegedly losing money after investing in certain stocks, which were out of its investment guidelines.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
A recent post on social media revealed that three purple-faced langurs near t
10 Apr 2024
09 Apr 2024