Jan 04, 2021 (LBO) – The Central Bank who manages the Employees’ Provident Fund (EPF), expects to revise its Investment Guidelines to be in line with the latest market developments.
Presenting the Road Map for 2021, Governor W D Lakshman said that the intention is to facilitate a more prudent investment decision making process, while strengthening the existing internal control environment.
“We expect to rebalance the investment portfolio to generate a high risk-adjusted rate of return compared to market rates, while seeking alternative investment avenues to diversify the investment portfolio given the current low interest rate environment,” he highlighted.
The Central Bank manages the largest superannuation fund in Sri Lanka, the Employees’ Provident Fund (EPF), with a view to facilitating a diversified medium- to long-term investment strategy.
“We also plan to implement a business process reengineering in 2021, with the assistance of competent consultants, thereby implementing a member-centric integrated IT solution, and investment and accounting modules.”