Seven fund management firms have shown interest in managing the Coal Mines Provident Fund Organisation’s Rs 1.06 lakh crore investible corpus, the commission for which is expected to be at least Rs 100 crore annually.
Investment management arms of HSBC, ICICI, HDFC, UTI and State Bank of India, along with Reliance Nippon Life Asset Management and Centrum Wealth Management, recently attended a pre-bid meeting for managing the fund, and more are expected to participate, CMPFO commissioner Animesh Bharti told ET.
“Selected set of fund managers will also get to reinvest and manage the returns from this corpus, which is around Rs 6000 crore annually,” said Bharti. Read More
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