FreeCurrencyRates.com

इंडियन आवाज़     24 Sep 2017 03:23:16      انڈین آواز
Ad

Govt announces new exchange traded fund ETF, Bharat-22

AMN /  New Delhi

jaitelyFinance Minister Arun Jaitley today announced a new Exchange Traded Fund (ETF) named BHARAT -22 which consists of 22 scrips including ONGC, IOC, SBI and Axis Bank.

ICICI Prudential AMC will be the ETF Manager and Asia Index Private Limited will be the Index Provider. The index will be rebalanced annually.

ETF functions like a mutual fund scheme and is bought by investors as units.

Talking to media persons here , Finance Minister Arun Jaitley said, Bharat-22 will have a diversified portfolio of six sectors, including energy, FMCG, finance, basic material and industrial and utilities.

He said, ETF investment is less risky and provides liquid assets which are traded real time and is a transparent mode of investment.

The government had raised about eight thousand 500 crore rupees through the three tranches of CPSE Exchange Traded Fund last fiscal. In his Budget Speech, Mr Jaitley had promised to use ETF as a vehicle for further disinvestment of shares.

The target for central public sector enterprises disinvestment in 2017-18 was set at 72,500 crore rupees. During the current Financial Year, the government has realised approx 9,300 crore rupees through nine disinvestment transactions so far.

Leave a Reply

You have to agree to the comment policy.

Ad
Ad
Ad
Ad

SPORTS

India A hockey teams leave for Australian Hockey League

Harpal Singh Bedi /New Delhi The India ‘A’ Men and Women Hockey teams left on Saturday for the Australi ...

Ghosal reaches semifinals of Macau Open

India's leading squash player, Saurav Ghosal, today moved into the semifinals of the Macau Open Squash Tournam ...

Ad

Archive

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930  

OPEN HOUSE

Mallya case: India gives fresh set of documents to UK

AMN India has given a fresh set of papers to the UK in the extradition case of businessman Vijay Mallya. Ex ...

@Powered By: Logicsart

Help us, spread the word about INDIAN AWAAZ

RSS
Follow by Email20
Facebook210
Facebook
Google+100
http://theindianawaaz.com/govt-announces-new-exchange-traded-fund-etf-bharat-22/">
LINKEDIN