ETFs, Investments

ETF Securities enters Indian equity market

ETF Securities has partnered with an Indian asset manager to launch an exchange-traded fund (ETF) that will invest in stocks listed on the National Stock Exchange of India.

The fund, which will trade on the Australian Securities Exchange under the code NDIA, will be operational in the next few weeks, and is a joint venture with Reliance Nippon Life AMC.

“India has a US$2.6 trillion economy that is home to iconic companies like Tata and Infosys. Its transformation to a services-led economy has driven innovation and efficiencies and the rise of a wealthier consumer,” ETF Securities head Kris Walesby said.

“Even with the challenges it now faces, we still think the Indian economy can register annual growth rates of as much as 7 per cent, putting it at the head of the pack among major economies.”

Pointing out the difficulties in accessing Indian markets for foreign investors, Walesby said: “Dealing with all the red tape probably explains why no one else in Australia has attempted the sort of fund we are about to offer. This will be the first passive exposure to India available to Australian investors – whether listed or unlisted.

“A lot of hard work has gone into NDIA. Getting to this point demonstrates the commitment of ETF Securities to innovating and providing clients with exposure to difficult-to-reach market opportunities.”

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