Pension fund managers (PFMs) will soon be allowed to invest in IPO

Pension fund managers (PFMs) will soon be allowed to invest in IPO and also in a broader list of stocks, a top official from sector regulator PFRDA said today. The Pension Regulatory and Development Authority (PFRDA) is aiming to increase the number of subscribers looking to build a retirement corpus by 1 crore in FY22 with the increase in interest during the pandemic, its Chairman Supratim Bandyopadhyay told reporters. Currently, there are restrictions under which PFMs can invest the equity component of a corpus only in scrips.