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PFRDA to make changes in NPS investment norms

The PFRDA has asked private pension fund managers not to invest directly in equities

March 06, 2014 2:26 IST | India Infoline News Service
The National Pension System (NPS) is all set to make changes in investment rules and fund management fees, according to a media report.
The Pension Fund Regulatory and Development Authority (PFRDA) has asked private pension fund managers not to invest directly in equities but to invest in equities only through index mutual fund or exchange-traded funds, the report added.
These index funds or ETFs should track either the Bombay Stock Exchange (BSE) Sensex or the National Stock Exchange (NSE) Nifty indices.
The fund managers will have to choose the index they want to track in advance on a yearly basis.
On Monday IRDA (Insurance Regulatory and Development Authority) allowed insurance companies to invest in equity ETFs with certain conditions. The objective is to attract investment in the stock market.






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