ETF Securities releases Indian ETF

ETF Securities has released its Indian ETF product, which will invest in stocks listed on the National Stock Exchange (NSE) of India.

The fund, operating under the code NDIA on the Australian Securities Exchange, will track the Nifty 50 index, which holds India’s top 50 stocks and accounts for 13 sectors representing 66.8 per cent of the free-float market capitalisation of the stocks listed on the NSE.

“This product offers investors the chance to gain exposure to a US$2.6 trillion economy that still has tremendous potential to grow as India reaps the benefits of structural reforms,” ETF Securities Australia head Kris Walesby said.

Walesby pointed out traditionally the Indian market had been difficult for offshore investors to access due to its strict investment rules and the ETF was the result of a partnership with Reliance Nippon Life Asset Management.

“Within six years it’s expected that around one-fifth of the world’s working-age population will be Indian and that represents a huge fillip to the economy,” he said.

“The increasing wages of the middle and lower classes, coupled with growing demand for consumer items such as mobile phones, should underpin further strong growth going forward.”

In May, BetaShares announced the launch of its India Quality ETF, which is aimed at giving investors access to a diversified portfolio of high-quality Indian companies.

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