Profit

Edelweiss Mutual Fund Lists Second Exchange-Traded Fund on NSE

 Share
EMAIL
PRINT
COMMENTS
Edelweiss Mutual Fund Lists Second Exchange-Traded Fund on NSE
Mumbai: Edelweiss Mutual Fund on Friday said it has listed its second open-ended exchange traded fund (ETF), Edelweiss Exchange Traded Scheme-Banking (EBANK), on the NSE. The scheme is suitable for investors seeking long-term capital appreciation and investment in securities covered by the Nifty Bank Index, a company statement said.

The investment objective of EBANK is to provide returns before expenses that closely correspond to the total returns of the Nifty Bank Index, subject to tracking errors, it added.

However, there can be no assurance or guarantee that the investment objective of the scheme will be realised and the scheme does not guarantee any returns, the statement said. "Banking sector is the backbone and the catalyst for a growing economy. Globally, as a single sector, banking commands one of the highest shares in most emerging markets indices, reflecting its importance," Edelweiss Asset

Management Chief Executive Vikaas M Sachdeva said.

"Banking ETFs are highly flexible and can be used as a tool for gaining instant exposure to banking segment in a risk-adjusted manner," he added.

EBANK will be competitive in terms of expenses in the category and more liquid with lower spreads, it said.


Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top