EPF reiterates that it has followed Investment Policy Guidelines

Sri Lanka’s Employees’ Provident Fund which is the largest private pension fund in the country once again reiterated that it has diligently followed all internal guidelines in relation to the assessment, analysis and investment in the Stock market.

It also says the investments it had made in the stock market had the approval of the Investment Committee and the ratification of the Monetary Board.

The Fund says despite the earlier clarifications regarding its process of investment, certain opposition Members of Parliament has not acknowledged its clarifications.

“This unfounded allegation could be categorized as a part of a systematic attempt which is designed to provoke a disturbance to the stability of the financial system, since the EPF is a substantial element of the total financial system” added the EPF in its latest statement.

In recent times opposition parliamentarians claimed that the EPF has violated the internal guidelines which it needs to follow if and when making investment decisions.