Govt to launch CPSE-ETFs in a month
In May 2013, the Cabinet Committee on Economic Affairs had approved the setting up of a CPSE-ETF, which would comprise CPSE stocks
The Government wants to raise about Rs. 30 billion through the CPSE-ETFs, the report added.
In May 2013, the Cabinet Committee on Economic Affairs had approved the setting up of a CPSE-ETF, which would comprise CPSE stocks (from amongst the listed CPSE stocks). Each stock would have a fixed weightage in the basket.
CPSE ETF is made up of a basket of shares of different CPSEs, that tracks an index fund, but trades like a stock on the exchange.
The companies which would form part of the ETF basket are ONGC, Coal India, GAIL, Power Grid, REC, Oil India, Container Corporation, Power Finance, Indian Oil, Engineers India and Bharat Engineering.
During the October-December quarter, gold ETFs accounted for assets worth about Rs. 85 billion and non-Gold ETFs Rs. 15 billion. The average assets under management (AUM) for the entire mutual fund industry during the same period stood at Rs 8.76 trillion.
India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.