विज्ञप्तियां उर्दू विज्ञप्तियां फोटो निमंत्रण लेख प्रत्यायन फीडबैक विज्ञप्तियां मंगाएं Search उन्नत खोज
RSS RSS
Quick Search
home Home
Releases Urdu Releases Photos Invitations Features Accreditation Feedback Subscribe Releases Advance Search
home  Printer friendly Page home  Email this page
English Release 24-October 2014
Date Month Year
  • Prime Minister's Office
  • PM conveys greetings on United Nations Day
  • PM salutes our brave ITBP personnel on the Raising Day of ITBP
  • Min of Agriculture
  • Kharif Rice Area Coverage
  • Min of Commerce & Industry
  • DIPP Constitutes IPR Think Tank to Draft National Intellectual Property Rights Policy
  • Min of Defence
  • Brave Heart NCC Cadets Rescue Middle Aged Woman from River Yamuna
  • Ministry of Finance
  • Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
  • Min of Health and Family Welfare
  • Dr Harsh Vardhan offers cooperation to Pakistan to end polio
  • Min of Home Affairs
  • Home Minister addresses 53rd Raising Day Function of Indo Tibetan Border Police Force
  • Observance of the Rashtriya Ekta Diwas on 31st October
  • Min of Petroleum & Natural Gas
  • Modified DBTL Scheme
  • Global crude oil price of Indian Basket was US$ 83.61 per bbl on 23.10.2014
  • Min of Road Transport & Highways
  • Electronic Toll Collection System to be Inaugurated on October 31, 2014
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • India’s Performance at 2nd Asian Para Games 2014 on 22nd and 23rd October, 2014
  • Min of Urban Development
  • Shri M.Venkaiah Naidu adopts Hudhud cyclone ravaged village of Andhra Pradesh for rehabilitation

Previous Date

 
Ministry of Labour & Employment29-July, 2008 18:0 IST
Central Board of Trustees select fund managers

      A special meeting of the Central Board of Trustees, Employees Provident Fund was held here today to decide on the issue of appointing a multiple fund managers to manage the provident fund monies.  The issue of multiple fund managers is under examination by the Board for more than two years.  In an earlier meeting, it was decided to appoint a professional agency to assist the EPFO through the process of appointing multiple fund managers.  M/s. CRICIL was appointed as a consultant.  After following rigorous scrutiny mechanism in a transparent and fair manner, the Committee of Officers short listed 17 out of 21 applicants for inviting request for proposals (RFP).  All the parties were informed of the requirements and technical parameters.  On examination of technical bid, 10 fund managers were shortlisted for financial bid.

            On opening the financial bid,   two fund managers among the shortlisted i.e. namely HDFC AMC, Birla Sun Life AMC., made a bid of 0%. Their bids were rejected after taking a legal advice and that zero bid would not constitute a valid contract.  The Board selected four fund managers on the basis of financial bid.  The fund managers selected and fee quoted by them are as follows:

1.         HSBC AMC                               0.0063%

2.         ICICIC Prudential AMC             0.0075%

3.         State Bank of India                  0.01%

4.         Reliance Capital AMC              0.01%

            It is expected that each year about Rs.30,000 crore would be available as incremental accretion to these fund managers. The monies be managed by them would be in a certain proportion that would be decided later.  Further they would also render custodial services for maintaining the previous investment currently held by SBI.

VBA/


(Release ID :40803)

Web Ratana This site is winner of Platinum Icon for 'Outstanding Web Content' Web Ratna Award'09 presented in April 2010
Site is designed and hosted by National Informatics Centre (NIC),Information is provided and updated by Press Information Bureau
"A" - Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi - 110 001 Phone 23389338
Go Top Top

उपयोग संबंधी शर्तें स्वोत्वाधिकार नीति गोपनीयता संबंधी नीति हाइपरलिंकिंग नीति Terms of Use Copyright Policy Privacy Policy Hyperlinking Policy