Bharat-22 ETF launched to benefit investors

BHARAT-22 index comprises of shares of key CPSEs, public sector banks and also the government owned shares in blue chip private companies

GN Bureau | November 15, 2017


#PSU   #Bharat 22 ETF   #Banking  

The centre has launched BHARAT-22 exchange traded fund (ETF), managed by ICICI Prudential mutual fund to target an initial amount of about Rs 8,000 crore. The new fund offer is open till November 17.

The units of the scheme will be allotted 25 percent to each category of investors. In this ETF, the retirement fund has been made separate category for the investors. In case of spill-over, additional portion will be allocated to retail and retirement funds. It offers three percent discount as well.

The strength of this ETF lies in the specially created Index S&P BSE BHARAT-22 Index which is a unique blend of shares of key CPSEs, public sector banks (PSBs) and also the government owned shares in blue chip private companies like Larsen & Tubro (L&T), Axis Bank and ITC. The shares of the government companies represent six core sectors of the economy - finance, industry, energy, utilities, fast moving consumer goods (FMCG) and basic materials. It makes the index broad-based and diversified. The strength of the index has been demonstrated in its performance since its launch in August, 2017 wherein it outperformed NIFTY-50 and Sensex.

The index constituents include Maharatana and Navratana enterprises like Coal India, GAIL, Power Grid Corporation of India Ltd. (PGCIL), National Thermal Power Corporation (NTPC), Indian Oil Corporation Ltd., Oil & Natural Gas Corporation (ONGC), Bharat Petroleum, and National Aluminum Company (NALCO), three PSBs—SBI, Bank of Baroda apart from the three private sector companies.
 

Comments

 

Other News

Eliminating tuberculosis within a generation

Published ahead of World TB Day (24 March 2019), The Lancet Commission on Tuberculosis estimates that there are significant financial benefits of reducing TB mortality. With the country shouldering one-fourth of the global burden and a predominant number of patients accessing care in the private sector, th

India a year unhappier

India is unhappier than ever before. The United Nation`s World Happiness report 2019 has ranked India at the 140th position from the previous 133 in 2018, dropping seven spots in just a year and 23 positions since 2015.   Out of the total 156 countries that were covered, India`s

On the line

Releasing a booklet on the railways achievements in the last five years, railways minister Piyush Goyal may have painted a rosy picture, but that does not subtract from its many troubles, chief among which is its worsening operating ratio.   The ratio is of working expenses to tr

SAIL launches smart trash bins to develop smart garbage stations

SAIL has rolled out stainless steel smart garbage bins, which will display signals to the collection vehicle about the ‘fill-up’ position.   A smart garbage station will be set up at Bhikaji Cama Place, which is being developed by SDMC (South Delhi Municipal Corporati

Civil enclave at Hindon airport unveiled by PM Modi

Prime minister Narendra Modi recently inaugurated a civil enclave at Hindon airport in Ghaziabad. The development of new civil enclave at Hindon airport is aimed at reducing the burden of Delhi’s IGI Airport and will also serve the passengers from Delhi NCR and Uttar Pradesh. Hindon

Rethinking healthcare

The new world is aggressively batting for individual rights and self-determination. As the society is evolving for the better, we see a more assertive Indian coming to the fore. An Indian who has higher expectations and an Indian who is cognizant of his/her rights. Our constitution guarantees us several fr



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter