Which of the following statements about the National Investment Fund (NIF) are correct? I.          The allocation of capital for NIF is done in the Union Budget II.         The NIF is used in funding selected social sector schemes as well as for capital investment in profitable and revivable central public sector undertakings (CPSUs) III.        The NIF funds are managed by SBI, HDFC Bank and ICICI Bank

Union government announced the setting up of National Investment Fund (NIF) in 2005.� The NIF is to be funded from the disinvestment of government stake in public sector units. 75 per cent of NIF's annual income is earmarked to finance selected social sector schemes and the remaining 25 per cent for capital investment in profitable and revivable central public sector undertakings (CPSUs). Under the existing guidelines, the disinvestment proceeds are deposited in the NIF. Which is managed by three public sector mutual funds � UTI Asset Management Company, SB I Funds Management and LIC Mutual Fund Asset Management Company.