Getting a part of the retirement savings organization’s sizeable corpus could help the fund house mount a serious challenge for the No.3 spot on the MF leaderboard.
Nippon India Mutual Fund is about to hit the jackpot.
The Employees Provident Fund Organisation is set to award it—along with ICICI Prudential Mutual Fund—a contract allowing investment of the incremental flows into its massive retirement corpus in exchange traded funds, according to three people with direct knowledge of the matter.
“The names have been finalized by the EPFO. The formal letters are expected to be issued anytime soon,” says one of three people mentioned above, all of whom requested anonymity.
Nippon India MF and ICICI Prudential MF were shortlisted after submitting the lowest bids in response to the EPFO’s …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi