EPFO gets approval to invest up to 5% in InvITs, alternative funds

The central board of Employees' Provident Fund Organisation (EPFO) has approved a proposal to allow the retirement fund body to invest up to 5% of annual deposits in alternative investments funds, including infrastructure investment trusts (InvITs). "We shall only focus on government-backed alternatives, which are category one funds like public sector InvITs," Labour Secretary Sunil Barthwal said.