More fund houses eye pension money

Several fund houses are trying to convince pension manager Employees’ Provident Fund Organisation (EPFO) to invest through their exchange-traded funds (ETFs) including a mid-sized state-owned fund house. The EPFO officials also conducted a preliminary check of the systems and investment processes of the public sector fund house. ETF schemes run by SBI MF and UTI MF have cornered most of the EPFO inflows, with SBI MF mopping up about three-fourths of the investment, as per sources. Earlier this year, the retirement fund body gave its nod to hike the investment limit in ETFs to 15 per cent from 10 per cent, which is expected to bring in an incremental ~18,000-20,000 crore into equities this financial year.