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World Bank Pension Trust invests in GNFC stock

World Bank Pension Trust invests in GNFC stock

New Delhi: Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) has attracted many pension funds, including World Bank Pension Trust, in the last few months due the consistent performance of the company promoted by Gujarat government.

Usually, Pension funds invest in fixed income securities rather than equity because of their obligation to take care of their members or contributors during their retirement.

Due to the company's sustainable performance, many Provident Fund and Pension Fund Trusts have invested in the company and the latest entrant in the list is the World Bank, which has purchased large chunk of the Guajarat firm's equity for their Pension Fund for staff retirement plan, GNFC MD Rajiv Kumar Gupta said when asked about the development.

"World Bank as well as other pension funds have a very sophisticated and very stringent means of analysing the strength of equity investment on various technical parameters, both, quantitative and qualitative, Litmus Test," he said.

This is an evidence of expression of confidence by such reputed and well managed institutions in the growing strength of GNFC, while placing the hard earned money of their investors, he said.

The retirement funds therefore, choose various assets classes which by nature are not very aggressive but have qualities of consistency, long term nature, safety and reliability as well as full of liquidity with fair returns.

As per the latest D&B's rankings GNFC has topped among all the Gujarat government owned companies. Overall, the company is ranked at 129th position, registering a jump of 83 places, compared to last year's 212th rank. Of all these 17 chemical companies, GNFC is the third best chemical company of India.

PTI

PTI

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