Psu Etf

The Union Budget is likely to keep the disinvestment estimates at almost the same level as in the current fiscal, people in the know of the matter said.

Government holding in several PSU banks continues to remain at very high levels. It is as high as 75 per cent in PNB and 65 per cent in Bank of Baroda

Facing an uphill target, the Department of Disinvestment (DoD) wants the Employees' Provident Fund Organisation (EPFO) to invest Rs 6,000 crore in India's only exchange-traded fund (ETF) of PSU stocks, but the retirement fund body is now keen on investing only Rs 1,000 crore.

The Department of Disinvestment has initiated talks with the Labour Ministry to persuade retirement fund body Employees' Provident Fund Organisation (EPFO) to invest a portion of its funds in the exchange traded fund of PSU stocks.

Central Public Sector Enterprises Exchange Traded Fund, operated by Goldman Sachs Asset Management India Ltd, rose as much as 10.3 per cent to Rs 19.25 on listing at the National Stock Exchange on Friday, compared with its allotment price of Rs 17.45 per unit.

The government is seeking to raise around Rs 3000 crore by selling partial stakes in 10 state-owned companies via an exchange traded fund that will be operated by Goldman Sachs' asset management unit.

Power Grid Corporation has been kept out of the proposed CPSE Exchange Traded Fund (ETF), which will now consist of 10 companies, including ONGC, Coal India, GAIL and Indian Oil.

The government's ambitious disinvestment target for 2013-14 was left stranded after few initial PSU stake sales. Besides, works on setting up the Exchange Traded Fund (ETF) also kept the disinvestment department busy.

In order to encourage retail investors, the Kelkar committee has suggested that government should consider floating exchange traded fund (ETF) comprising shares of only those PSUs which have good financial track records.

The Union Budget is likely to keep the disinvestment estimates at almost the same level as in the current fiscal, people in the know of the matter said.

Government holding in several PSU banks continues to remain at very high levels. It is as high as 75 per cent in PNB and 65 per cent in Bank of Baroda

Facing an uphill target, the Department of Disinvestment (DoD) wants the Employees' Provident Fund Organisation (EPFO) to invest Rs 6,000 crore in India's only exchange-traded fund (ETF) of PSU stocks, but the retirement fund body is now keen on investing only Rs 1,000 crore.

The Department of Disinvestment has initiated talks with the Labour Ministry to persuade retirement fund body Employees' Provident Fund Organisation (EPFO) to invest a portion of its funds in the exchange traded fund of PSU stocks.

Central Public Sector Enterprises Exchange Traded Fund, operated by Goldman Sachs Asset Management India Ltd, rose as much as 10.3 per cent to Rs 19.25 on listing at the National Stock Exchange on Friday, compared with its allotment price of Rs 17.45 per unit.

The government is seeking to raise around Rs 3000 crore by selling partial stakes in 10 state-owned companies via an exchange traded fund that will be operated by Goldman Sachs' asset management unit.

Power Grid Corporation has been kept out of the proposed CPSE Exchange Traded Fund (ETF), which will now consist of 10 companies, including ONGC, Coal India, GAIL and Indian Oil.

The government's ambitious disinvestment target for 2013-14 was left stranded after few initial PSU stake sales. Besides, works on setting up the Exchange Traded Fund (ETF) also kept the disinvestment department busy.

In order to encourage retail investors, the Kelkar committee has suggested that government should consider floating exchange traded fund (ETF) comprising shares of only those PSUs which have good financial track records.