Kolkata: Coal Mines Provident Fund Organisation (CMPFO) has invited portfolio managers to handle its investible corpus, estimated at Rs 1.06 lakh crore, the commission for which is expected to be at least Rs 100 crore annually.
It is one of the largest funds of its kind and the money belongs to coal workers. CMPFO is the custodian of this fund. Consultancy firm Brickwork India was recently appointed to guide the organisation through the selection process.
“To ensure optimum returns on the corpus through investment in securities, CMPFO has decided to select portfolio managers to manage its investible funds. This fund, under Coal Mines Provident Fund Scheme 1948, Coal Mines Pension Scheme 1998, Coal Mines Deposit Linked Insurance Scheme 1976 and Coal Mines Administrative Charges Fund, will be allocated to selected portfolio managers for investment management,” said Animesh Bharti, commissioner, CMPFO.
